A statement from Grupo SURA in response to the misinformation contained in an article published by Semana magazine

With regard to the article published on October 28 on the Semana magazine’s website " in which it states that “Sura has declared itself, before the US authorities as a business group that includes Argos and Nutresa", Grupo SURA would like to declare that such information is false, taken out of context and distorted. In order to ensure that the public is well informed, the Company hereby clarifies that:

  • Grupo SURA has never declared itself, either in Colombia or in any other jurisdiction, as being a business group that includes Grupo Argos and Grupo Nutresa, nor as exerting control with regard to these companies which form part of its investment portfolio.

  • We reiterate that Grupo SURA's decision-making power is not subject to the will of either Grupo Argos or Grupo Nutresa. Likewise, Grupo SURA does not impose its will on the decision-making power of either Grupo Argos or Grupo Nutresa.

  • The aforementioned facsimile, which was taken out of context in the article published in Semana Magazine, does not form part of a document filed before a U.S. authority. This is merely an excerpt on page 4 of the Prospectus corresponding to the issue and placement of international bonds for the year 2016 in the amount of USD 550 million maturing in 2026, as made available on the Company's website.

  • In this type of document, reference annotations are made at the beginning with regard to certain defined terms, including "Group", a term which has specific and particular contractual effects within the documents regarding said issue. In this case these documents are between Grupo SURA, as the issuer of said bonds, and the investors themselves.

  • The term "Group" is used in several sections within the Prospectus, mainly to illustrate to investors and potential investors the importance for Grupo SURA of the dividends received from Grupo Argos and Grupo Nutresa. These dividends are a determining factor in Grupo SURA's credit evaluation.

  • It is made very clear, throughout the document, that the use of the word "Group" does not denote the existence of a situation of control, nor of a business group in the terms of Colombian law, as the publication Revista Semana pretends to make it appear.

  • For example, on page 55 of the aforementioned Prospectus the accounting treatment of Grupo SURA's holdings in Grupo Argos and Grupo Nutresa is amply discussed, and expressly mentions that these investments are not consolidated, since no control is exerted over these.

Grupo SURA would like to reiterate its willingness to attend and handle any request from the media as well as its shareholders, in order to verify and cross reference any information that circulates or is published in relation to the Company.