Grupo de Inversiones Suramericana S.A. (“Grupo SURA”) announces that its subsidiary, SURA Asset Management S.A. (“SURA AM”), has today filed with the Colombian Superintendency of Finance (“CSF”) a request for authorization of a tender offer for common shares of Administradora de Fondos de Pensiones y Cesantías Protección S.A. (“Protección”).

Through this tender offer, SURA AM intends to acquire between 6.0% and 7.5% of the outstanding common shares of Protección. For this purpose, SURA AM has entered into a share purchase agreement and a preliminary agreement with Cornerstone LP, a shareholder of Protección. The share purchase agreement is subject to certain conditions precedent for its effectiveness, including, but not limited to, the authorization of the tender offer by the CSF.

This opportunity to increase its stake in Protección will allow SURA AM to consolidate its participation in a strategic asset in which it currently holds 52.31% of the common shares. Additionally, the offer represents an efficient capital allocation, considering that the price offered per common share of Protección will be forty thousand Colombian pesos (COP $40,000), which corresponds to a multiple close to 0.4 times its book value.

Through this transaction, SURA AM reaffirms its commitment to creating sustainable value for its shareholders.