Board decisions – Repurchasing the Company’s own shares

The Company’s Board of Directors has given its approval for submitting for the consideration of the General Assembly of Shareholders the possibility for them to issue due authorization for repurchasing the Company’s own shares in the amount of three hundred billion pesos (COP 300,000,000,000) during a maximum term of three (3) years. Should this be approved, a reserve shall be set up for repurchasing said shares in the amount thus proposed. Furthermore, the General Assembly of Shareholders shall be requested to delegate to the Board of Directors the task of defining the terms and conditions under which these stock buy backs shall be carried out, adopting mechanisms that enable equal treatment among shareholders in accordance with currently applicable legislation in Colombia.