Grupo Aval Acciones y Valores S.A (NYSE:AVAL) Q3 2021 Earnings Call November 18, 2021 ET Company Participants Luis Carlos Sarmiento Gutierrez - CEO & President Diego Solano Saravia - CFO Conference Call Participants Jason Mollin - Scotiabank Yuri Fernandes - JPMorgan Chase & Co. Julian Ausique - Davivienda Andres Soto - Santander Carlos Gomez-Lopez - HSBC Operator Welcome to Grupo Aval Third Quarter 2021 Consolidated Results Conference Call. My name is Hilda and I will be your operator for today’s call. Gru ...

Grupo Aval Acciones y Valores S.A. (NYSE:AVAL) Q2 2021 Earnings Conference Call August 12, 2021 10:30 AM ET Company Participants Luis Carlos Sarmiento Gutierrez - CEO & President Diego Solano Saravia - CFO Conference Call Participants Sebastián Gallego - CrediCorp Capital Adriana De Lozada - Scotiabank Brian Flores - ASA Investments Yuri Fernandes - JPMorgan Chase & Co. Julian Ausique - Davivienda Andres Soto - Santander Operator Welcome to Grupo Aval's Second Quarter 2021 Consolidated Results Conference Ca ...

Financial Data and Key Metrics Changes - The company's total assets grew by 4.3% quarter-on-quarter and 5.1% year-on-year, with Colombian assets increasing by 2.7% quarterly and 0.3% annually [24][25] - The gross loan portfolio increased by 3.8% over the quarter and 4.4% year-on-year, with Colombian loans growing by 1.7% during the quarter [26][27] - Attributable net income for Q1 2021 was 792 billion pesos, representing a 24.7% increase year-on-year [42] Business Line Data and Key Metrics Changes - Retail lending products showed substantial performance, with consumer loans in Colombia increasing by 2.7% in the quarter and 8.1% year-on-year [26][27] - Payroll lending, which constitutes 60% of the Colombian consumer portfolio, grew by 5.7% over the quarter [27] - The corporate loan portfolio in Colombia grew by 1% during the quarter, recovering from previous contractions [27] Market Data and Key Metrics Changes - The Colombian economy grew by 2% in Q1 2021, surprising market expectations of contraction [10] - The Central Bank raised its GDP growth forecast for Colombia to 6% from 5.2% [12] - Inflation in Colombia reached 1.95% in April, up from 1.51% the previous month, with expectations of reaching around 3% by year-end [13] Company Strategy and Development Direction - The company is focused on digitalization, with active digital clients growing by almost 30% year-on-year [19] - There is a strong emphasis on cost containment and efficiency improvements through digital initiatives [21] - The company anticipates further improvement in economic activity supported by stronger business sentiment and increased consumer spending [11] Management's Comments on Operating Environment and Future Outlook - Management expressed cautious optimism regarding the economic recovery, noting that tailwinds such as an improving economy and resilient loan portfolio may outweigh headwinds like social unrest [20][22] - The company is closely monitoring social unrest and its potential impact on operations, while also being vigilant about the ongoing pandemic [22] - Future guidance includes loan growth expectations of 9% to 10% and a cost of risk between 2.3% and 2.4% [42] Other Important Information - The company reported a significant increase in digital transactions, with nearly 70% of monetary transactions conducted through digital channels [19] - The cost of risk improved to 2.2%, down from 3.5% in the previous quarter [33] Q&A Session Summary Question: Inquiry about double leverage at the group level - Management explained that they have maintained debt levels and have strategies in place to ensure liquidity for bond payments, with a focus on lending to subsidiaries at favorable rates [44][45][46] Question: Asset quality and cost of risk guidance - Management confirmed that the cost of risk guidance has been revised to 2.3% to 2.4%, citing improved asset quality despite ongoing uncertainties [53][54] Question: Charge-offs and specific segments - Management acknowledged an increase in charge-offs but noted that they are still within historical averages, with specific segments being more affected than others [56][57] Question: Tax reform prospects - Management discussed the uncertainty surrounding tax rates and potential reforms, indicating that the most likely scenario is maintaining current tax levels [60][62] Question: Impact of social unrest on operations - Management confirmed that they are monitoring the situation closely, particularly regarding its impact on Banco de Occidente and overall operations [64][65]

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 20-F ☐ REGISTRATION STATEMENT PURSUANT TO SECTION 12(b) OR (g) OF THE SECURITIES EXCHANGE ACT OF 1934 OR ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 for the fiscal year ended December 31, 2020 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from ________________ to ________________ OR ☐ SHELL COMPANY ...

Financial Performance - Grupo Aval's consolidated assets grew by 22% year-over-year to COP 334 trillion[7] - Attributable net income for the quarter was COP 691 billion, with a year-to-date net income of COP 171 trillion[7] - Return on Average Assets (ROAA) was 15% and Return on Average Equity (ROAE) was 136% for the quarter[7] Loan Portfolio - Consolidated gross loans increased by 17% year-over-year to COP 210 trillion[7] - Consolidated deposits grew by approximately 25% year-over-year to COP 217 trillion[7] - The 90 days past due loans to gross loans ratio was 32% in 3Q20, compared to 33% in 3Q19 and 30% in 2Q20[6] Regional Performance - In Colombia, gross loans reached COP 1318 trillion, a 79% increase compared to 3Q19[10] - Deposits in Colombia amounted to COP 1326 trillion, up 127% from 3Q19[10] - Central America saw gross loans of COP 783 trillion, a 370% increase compared to 3Q19[10] - Deposits in Central America reached COP 845 trillion, a 500% increase from 3Q19[10] Key Ratios - The efficiency ratio improved to 440% in 3Q20, compared to 479% in 3Q19[6] - Net Interest Margin (NIM) was 51% in 3Q20, a decrease from 57% in 3Q19[6] - Deposits to Net Loans ratio stood at 107x[6]

Grupo Aval Acciones y Valores S.A. (NYSE:AVAL) Q3 2020 Earnings Conference Call November 19, 2020 9:00 AM ET Company Participants Luis Carlos Sarmiento Gutiérrez - President and CEO Diego Fernando Solano Saravia - CFO Conference Call Participants Jason Mollin - Scotiabank Gabriel Nobrega - Citigroup Yuri Fernandes - J.P. Morgan Andres Soto - Santander Nicolas Riva - Bank of America Merrill Lynch Sebastian Gallego - Credicorp Capital Carlos Gomez - HSBC Piedad Alessandri - CrediCorp Capital Julián Ausique - ...

Grupo Aval Acciones y Valores S.A. (NYSE:AVAL) Q2 2020 Earnings Conference Call August 28, 2020 10:00 AM ET Company Participants Luis Carlos Sarmiento Gutiérrez - Chief Executive Officer Diego Fernando Solano Saravia - Chief Financial Officer Conference Call Participants Gabriel Nóbrega - Citi Group Sebastián Gallego - CrediCorp Capital Yuri Fernandes - JPMorgan Andres Soto - Santander Carlos Gomez - HSBC Nicolas Riva - Bank of America. Julián Ausique - Davivienda Corredores Alonso Aramburu - BTG Pactual Op ...