Annual Ordinary Shareholders´ Meeting

Grupo de Inversiones Suramericana S.A. hereby announces to the market that its General Assembly of Shareholders at its annual ordinary meeting held today adopted the following decisions:

  1. Approval for the Management Report from the Board of Directors and Chief Executive Officer.
  2. Approval for both the Separate and Consolidated Financial Statements at December 31, 2022.

With regard to this item the Company´s Management informed the Shareholders´about the communication received on Thursday evening from the Colombian Superintendency of Finance , relating to the financial information transmitted by Grupo SURA on February 28. This communication contained observations and recommendations regarding the accounting treatment given to agreements signed with the minority shareholders Munich Re, Grupo Bolivar and CDPQ.

Grupo SURA shall inform the market in a timely manner regarding the measures to be taken as a result of this request, if applicable.

  1. To authorize increasing the "Reserve for repurchasing the Company's shares" in the amount of fifty-five billion one hundred and fifty-one million five hundred and thirty-five thousand nine hundred and seventy-six pesos (COP 55,151,535,976), with which, after deducting the value of the Company’s own shares repurchased in the previous program, there shall be three hundred billion pesos (COP 300,000,000,000), left for carrying out this new buyback program.

Furthermore, the General Assembly of Shareholders authorized delegating to the Board of Directors, the task of defining the terms and conditions under which these stock buy backs would be carried out.

  1. Approval was also given for the distribution of dividends, the setting up of the Company’s reserves and the funds to be allocated for social outreach programs, details of which can be consulted at the following link: content/uploads/2023/04/Distribucion-Utilidades-GIS-2023.pdf.

The dividend declared came to COP 1,280 per share, which represented an increase of 63% with respect to the previous year.

  1. Approval was also given to the amount of fees for members of the Board of Directors, these set at $10,120,000 for each meeting of both the Board and each of the Board Committees, for the period April 2023 through to March 2024.
  2. Fees for the Statutory Auditor were also approved, as follows:
  • COP 427,316,043 as fees for the period April 2023 to March 2024
  • COP 46,000,000 for additional procedures to be carried out in 2023.
  • COP 980,000,000,000, as a result of the additional efforts made in 2022.