CORPORATE PRESENTATION
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1 CORPORATE PRESENTATION 0
2 Main Figures Figures in Colombian Pesos Consolidated 2017 Separate 2017 Investment Grade Rating Assets: $ MM Total Equity: $ MM Net Income: $ MM ROE: 6,59% Solvency: 37,09% Assets: $ MM Total Equity: $ MM Net Income: $ MM ROE: 7,67% Solvency: 41,01% AAA Local BBB International AAA Local Consolidated Figures: Equity without excluding minority interest. Controlling Net Income. ROE: net profit attributable to Corficolombiana on the average controlled equity. Our Business Lines Equity Investments - Strategic participation in key sectors of the economy: Infrastructure, Energy & Gas, Agroindustry, Hospitality, Financial, among others. - $5,1 trillion equity investment portfolio as of Investment Banking - One of the investment banking practices with greatest tradition and recognition in the country. - Covers the full spectrum of services, from capital markets to corporate finance and project finance. Treasury - $2,2 trillion fixed income portfolio as of Dec Market makers in the different products offered: FX, derivatives, Colombian government bonds (TES) and money market operations. Retail Banking - Presence in 5 regions: Center, Antioquia, West, North and East clients served. 1
3 Value Proposal Controlled by Grupo Aval (NYSE:AVAL), a leading bank group in Colombia and Central America. Well-defined strategy with significant growing opportunities. Diversified investment portfolio with interest in strategic assets. History of positive financial results and solid capitalization. Highly experienced management team with a long track record in the company and the industry. 2
4 Shareholders 5,8% 4,6% 38,5% Retail Investors; 14,8% Colombian Pension Funds; 11,0% International Investors; 3,6% 9,5% Legal Entities; 12,2% As of December 31st, 2017 Grupo Aval is the largest financial group in Colombia and one of the leading banking groups in Central America, offering financial services through a platform based on seven distinctive brands in Colombia and Central America Net Loans Portfolio Fixed Income Inv. Others 22,2% Total Assets: COP 236,5 Tn 9,9% 68,0% 3
5 56 Years of History 4
6 Corporate Strategy Equity Investments Growth guided by the following investment principles: Long-term strategic investor in capital intensive sectors. Controlling position or significant influence. Seeks stable and growing results and cash generation, with low volatility. Relevant presence in the sectors in which it participates. Seeks to obtain synergies between the companies in which it participates and to transfer best practices. Target market: Colombia, Peru, Central America and the Caribbean. Treasury Diversification of Treasury business targeting new customers (e.g. corporate), products and markets in order to increase returns and reduce volatility in the fixed income portfolio. Strengthening of risk control and monitoring. CENTRAL AMERICA COLOMBIA CARIBBEAN Investment Banking Expansion of the investment banking business through (i) Growth in Colombia seeking a leading position in Project Finance, M&A, capital market and syndicated loans (ii) Entry to the Central America and Peru markets (iii) Expansion of the customer base focusing on large corporations, while continuing supporting Corficolombiana and Grupo Aval investments. PERU Geographical Presence Target Market Commercial Banking Transformation from Commercial into Corporate Banking working as a supporting unit/sales force for the Treasury and Investment Banking units (relationship with the 200 largest customers and complex derivatives). 5
7 Investment Portfolio Infrastructure Energy and Gas Hospitality Financial Services Other 100% 50,2*% 85% 100%* 8,5% 59,8*% 3,6% 84,6% 100%* 99,7% 88,3% 100%* 100%* 100%* 51% 1,7% 100% 20% Agroindustry 91,9% 100% 4,4% 19,9% 40,8% 98,7% 89,9%* 100%* 33,3% 54,5% 98,4* Controlling interest or significant influence in 85% of portfolio companies 50% Coviandes: 59,28% through Epiandes, 0,25% through Concecol and 0,25% directly; Panamericana: 100% through Episol; Coviandina: 75% through Concecol and 25% through Episol; Covioriente: 60% through Episol and 40% through Concecol; Covimar: 60% through Episol and 40% through Prodevimar; Covipacífico: 49,9% through Episol and 40% through Prodepacífico. Promigas: With economic and political rights: 34,22% directly and 10,58% through CFC Gas Holdings. With economic rights and no political rights: 5,43% through a PEF managed by a third party. Mavalle: 18,3% directly and 81,7% through Organización Pajonales. Leasing Corficolombiana y Fiduciaria Corficolombiana: 94,5% directly and5,5% through Valora S.A. 6
8 Diversified Investments with Interest in Strategic Assets.. Portfolio Book Value % 8% 3% Portfolio Book Value % 5% 2% Portfolio Book Value % 4% 3% 9% $ % 30% 30% 8% 30% $ % 8% $ % 20% 22% 33% 35% Leaders in Colombia in the sectors in which we participate 2nd transportation and distribution of gas Energy & Gas Infrastructure Agroindustry Hospitality Financial S. Other Transportation: 3,089 km of gas pipelines. Capacity 975 MCF/D 1) Distribution: 3,9 million users 1st Investor in road concessions 8 road concessions 691 km ADT 2) : 116,902 ( 2,7% YoY) 1st Corporate hotel chain 1) MCF/D: Million Cubic Feet per Day 2) ADT: Average Daily Traffic during 2017 * Note: Book Value corresponds to investments in subsidiaries, associates and other minority equity investments. Excludes investments in Fiduciary Rights 32 hotels 3,925 rooms 3 countries: Colombia, Peru and Panama Occupation: 55,9% 7
9 . And Cash Flow Generation Potential EBITDA Subsidiaries 1) Agroindustry; 1% Financial S. 2% Hospitality 3% Other 0% Agroindustry; 1% Financial S. 1% Hospitality 2% Other 0% Infrastructure 30% 2016 $ Energy & Gas 64% Infrastructure 29% 2017 $ Energy & Gas 67% Dividends Declared Received in in Cash to Corficolombiana Other Financial Infrastructure Energy & Gas ) Consolidated EBITDA of subsidiaries, without adjusting by participation. Financial Sector corresponds to Operating Profit of the financial subsidiaries. 8
10 Recent Projects Inauguration in 2016 of the first LNG regasification terminal in Colombia with a capacity of 400 MCF/D. In 2017, the first regasification operation took place. In 2017, Gases del Pacífico, a 21-year concession to distribute gas in the north of Peru, started commercial operation. Goal: 150,000 connections in the next 5 years. Capex: USD 214 million. Opening in 2016 of Hotel Estelar Cartagena de Indias with 338 rooms. The construction of two hotels in the city of Medellín and also the Estelar San Isidro in Lima Peru is advancing. Beginning of operation (Est.): 2Q-18 In 2018, additional 1,639 Ha of rubber are expected to enter exploitation to reach 3,747 Ha (90% of mature Ha). In 2015, concluded the construction of the largest rubber processing plant in the country with a capacity of 3 ton/hour. In 2017, the first export of TRS20 was made. program (4G). CFC Equity Contributions COP Trillion Four road concession projects awarded as part of the fourth generation concessions CoviPacifico CoviMar CoviAndina CoviOriente Note: Estimated figures and subject to change. Concession Interest Section Km Estimated Term (years) 89.9% 100% 100% % Project Progress Apr 18 Ancon Sur Bolombolo % Mulalo Loboguerrero % Chirajara - Villavicencio * 24, % 100% Villavicencio - Yopal % * Section awarded for construction. Additionally, it has the OAM of the corridor Bogota-Villavicencio 9
11 Consolidated Financial Results Net Income ROAE % Controlling Non Controlling 16,7% ,9% 6,6% Consolidated EBITDA ,1% Energy Infrastruct. Hospitality Agroind. Financial Dividends & Other Holding Adjustments Total Note: Financial Sector corresponds to Operating Profit of the financial subsidiaries plus Corficolombiana, excluding expenses of the Equity Investment business and dividends from minority shareholdings. 10
12 Solid Funding Strategy at the Separate Balance Sheet Balance Sheet Other Assets Fixed Income Investments Equity Investments CDs Average Tenor Years 4,2 5,5 Inversiones Tesorería Other Liabilities CDs Equity 0,9 1, Dec-2016 Dec-2017 Average Cost (Annual Effective Rate) Sept-17 CDs per Type of Rate December ,5% 8,3% 7,3% 4Q-16 9,0% 8,0% 6,9% CDs Savings Account Interbank Rate 1Q-17 8,2% 7,1% 6,2% 2Q-17 7,5% 5,7% 5,2% 3Q-17 7,2% 5,2% 4,7% 4Q-17 Fixed Rate 40% CPI 28% D.T.F 12% Interbank Rate 20% 11
13 Dividends Declared Dividends Declared 1) 690, , , , , ,743 Declared in Cash Declared in Shares 2) Shares Decree ) Net Income 4) 426, , , , , , , , ,380 91,765 62, , ) Dividends declared on earnings of the year. 2) Payable in shares at shareholder s option, otherwise paid in cash 3) Dividends paid in shares by express mandate of Decree 2336/1995. In 2014 includes extraordinary dividend of $701 per share declared on December 29th. 4) Separate Net Income: 2013 COLGAAP, IFRS restated IAS
14 Management Team Bernardo Noreña President Juan Carlos Paez Executive VP Economist from Universidad Javeriana with a MBA from University of Notre Dame He worked as CEO of Citibank Colombia and Citivalores S.A. He was also Investment Banking Vice President, Regional Corporate Vice President and Vice President of Currency Markets in Citibank Colombia Civil Engineer and Master of Business Administration from Universidad de los Andes He was Projects Director and Treasury Manager at Banco de Bogota, Finance Vice President at Megabanco S.A. and Findeter, and Regional Manager of Official Banking at Banco Santander Gustavo Ramirez Investment VP Electronic Engineer and Master of Economics from Universidad de Los Andes He was Director of Investment Banking and Executive Vice President of Investment Banking at Corporacion Financiera del Valle S.A. and he also held the same post at Corficolombiana Julian Valenzuela Treasury VP Alejandro Sanchez Investment Banking VP Leonardo Caicedo Governance, Risk and Compliance VP Industrial Engineer from Universidad Javeriana with a MBA from I.E of Madrid He worked as Investment Manager at Banco de Occidente, Administrative Legal Representative at Casa de Bolsa S.A. and as Derivatives Desk Manager at Corficolombiana Economist from Universidad de Los Andes, Master of Financial Markets from Toulouse University He joined Corficolombiana in 1998 and has held the positions as Economic Research Director, Projects Director and Investment Banking Manager and Investment Banking Executive Director Pubic accountant from Universidad Javeriana with an specialization in financial law from Universidad Externado de Colombia He has served as Compliance Officer for Banco BBVA Colombia, Audit Director for Citibank Colombia and Compliance Comptroller Auditor for the Andean Region for PricewaterhouseCoopers 13
15 Contact Adriana del Pilar Gonzalez Romero Investor Relations Manager Pbx. (1) ext
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