Grupo SURA’s Board of Directors have decided not to accept the second successive Tender Offer for Grupo Nutresa shares presented by Nugil S.A.S.*

The Board of Directors of Grupo SURA unanimously decided not to accept the second tender offer for Grupo Nutresa shares, as launched by Nugil S.A.S., considering that an eventual acceptance of this bid would disregard relevant aspects for Grupo SURA and its shareholders, such as:

1. The fundamental value of Grupo Nutresa and its portfolio
2. The creation of added value, in accordance with the medium- and long-term strategy defined by Grupo Nutresa
3. The search for strategic partners with whom fundamental purposes are shared
4. The application of environmental, social and governance (ESG) criteria in business management

In making this decision several factors were considered including, various methodologies of recognized technical value, and the Board received the financial advisory services of Bank of America (BofA) as well as the support of Deloitte in evaluating ESG criteria and practices.

The Board of Directors considers inappropriate the messages of those who suggest that the only right decision would be to accept the tender offer under the conditions offered.

* This free translation is for illustration purposes only. The Información Relevante published in Spanish on February 23, 2022 is the official version.