Core Viewpoint - Colombia has initiated a cash tender offer to purchase outstanding bonds, with the maximum purchase amount to be determined at the government's discretion, subject to financing conditions [1][2]. Offer Details - The offer is not contingent on any minimum participation from holders of the old bonds [2]. - The purchase price for each series of bonds will be fixed, with additional accrued interest paid to holders whose bonds are accepted [3][10]. - If the total purchase price exceeds the maximum purchase amount, a proration factor will be applied [3]. Old Bonds Information - The outstanding principal amounts and fixed purchase prices for various series of old bonds are detailed, including: - 3.875% Global Bonds due 2026: €634.89 million, Purchase Price: €1,005.71 - 9.850% Global TES Bonds due 2027: Ps. 1,924.52 billion, Purchase Price: Ps. 1,000.00 - 3.875% Global Bonds due 2027: $1.74 billion, Purchase Price: $1,000.00 - 4.500% Global Bonds due 2029: $2.00 billion, Purchase Price: $1,000.00 - 3.000% Global Bonds due 2030: $1.54 billion, Purchase Price: $918.75 - 7.375% Global Bonds due 2030: $1.90 billion, Purchase Price: $1,086.25 - 10.375% Global Bonds due 2033: $340.51 million, Purchase Price: $1,277.50 - 8.000% Global Bonds due 2033: $1.62 billion, Purchase Price: $1,127.50 - 7.500% Global Bonds due 2034: $2.20 billion, Purchase Price: $1,087.50 - 8.500% Global Bonds due 2035: $1.90 billion, Purchase Price: $1,160.00 - 8.000% Global Bonds due 2035: $1.90 billion, Purchase Price: $1,117.50 - 7.750% Global Bonds due 2036: $2.00 billion, Purchase Price: $1,090.00 - 7.375% Global Bonds due 2037: $1.82 billion, Purchase Price: $1,066.25 - 6.125% Global Bonds due 2041: $2.50 billion, Purchase Price: $928.75 - 5.000% Global Bonds due 2045: $3.67 billion, Purchase Price: $787.50 - 8.750% Global Bonds due 2053: $1.90 billion, Purchase Price: $1,192.50 - 8.375% Global Bonds due 2054: $1.64 billion, Purchase Price: $1,147.50 [4][5]. Tender Process - The tender offer commenced on November 14, 2025, and will expire on November 19, 2025, for U.S. Dollar Bonds and November 21, 2025, for Non-U.S. Dollar Bonds [11]. - Settlement is scheduled for November 26, 2025 [11]. - Old Bonds can only be tendered in minimum authorized denominations, with specific amounts outlined for each series [8][9]. Currency and Payment - Payments for the COP 2027 Global Bonds will be made in U.S. dollars, converted at the representative market rate prior to the expiration of the tender period [6][7]. - Holders must consult with their intermediaries regarding submission deadlines, which may differ from the official deadlines [12]. Additional Information - Global Bondholder Services Corporation is acting as the tender and information agent for the offer [14]. - The dealer managers for the offer include Santander U.S. Capital Markets LLC, Goldman Sachs & Co., and J.P. Morgan Securities LLC [15][16].

Core Points - The Republic of Colombia has initiated a tender offer to purchase its outstanding 3.875% Global Bonds due 2026, with a total principal amount of €715,107,000 accepted for the tender offer [1][2] - The maximum purchase price for the Old Bonds in the tender offer is €719,397,642, and no proration of tenders has occurred [2][3] - The settlement date for the tender offer is scheduled for September 16, 2025, subject to change [2][3] Summary by Sections Tender Offer Details - Colombia has instructed Citigroup Global Markets Inc. to manage the tender offer, which includes accepting valid tenders of the Old Bonds [1] - The aggregate principal amount of the Old Bonds accepted includes €488,557,000 from reinvestment tenders and €226,550,000 from simple tenders [3] Settlement and Conditions - The settlement of the tender offer is set for September 16, 2025, and failure to deliver Old Bonds on time may lead to cancellation of the tender or other consequences [2][3] - Colombia reserves the right to not accept any or all tender orders and may terminate the tender offer for any reason [4] Contact Information - The information agent for the tender offer is D.F. King & Co., Inc., with contact details provided for inquiries [27]