Grupo Argos’ Board of Directors appointed Juan Esteban Calle as successor to Jorge Mario Velásquez as President of Grupo Argos, effective April 1, 2026

• The selection process took place over a six-month period, was led by the Board of Directors, and was supported by Egon Zehnder, a global executive search and leadership advisory firm.
• Juan Esteban Calle holds a Business Administration degree from Universidad EAFIT, an MBA with an emphasis in Finance and Economics from the University of Chicago, and is a Chartered Financial Analyst (CFA) charterholder through the CFA Institute. For the past ten years, he has served as President of Cementos Argos, Grupo Argos’ building materials company.
• Grupo Argos will continue executing its strategic plan in building materials and infrastructure, which includes a project portfolio of approximately COP 40 trillion, and will maintain the financial discipline that has enabled it to achieve AAA credit ratings from Fitch Ratings and S&P Global.

The Board of Directors of Grupo Argos informs that, in accordance with its Corporate Governance Code and following a rigorous and structured succession process announced in June 2025, it has appointed Juan Esteban Calle as the next President of Grupo Argos, effective April 1, 2026.

This decision is part of an orderly transition process in which it had been envisaged that the current Board of Directors, who led the process and was familiar with the candidates, would select the company’s new President by the end of 2025 with the aim of enabling a smooth handover during the first months of 2026, in line with the highest corporate governance standards. Additionally, and as approved by the Shareholders’ Meeting, Grupo Argos’ Board of Directors will be renewed as of January 1, 2026. This staggered design enables a transition that ensures strategic continuity and the consolidation of the company as an investment vehicle in infrastructure and building materials in the region.

Juan Esteban Calle holds a degree in Business Administration from Universidad EAFIT, an MBA with an emphasis in Finance and Economics from the University of Chicago, and is a Chartered Financial Analyst (CFA) charterholder of the CFA Institute. He has served as President of Cementos Argos since 2016, where he drove operational efficiencies that expanded the EBITDA margin by more than 600 basis points and executed strategic transactions such as the combination of assets between Argos and Summit Materials in the United States and their subsequent divestment, transactions that represented more than COP 7.3 trillion in profits for Grupo Argos.

The Board of Directors welcomes Juan Esteban as the new President of Grupo Argos, confident that he has the knowledge and experience to lead the organization, continue executing the business plan focused on building materials and infrastructure, and further strengthen its ability to create value for all shareholders, honoring a legacy of more than 90 years in which the company has remained true to its principles and has grown alongside Colombia and all the territories where it operates.

“Following a rigorous and structured succession process, announced in June and conducted under the highest corporate governance standards, the Board of Directors selected Juan Esteban Calle to lead Grupo Argos’ next stage. His experience and deep understanding of the company’s businesses enable us to ensure strategic continuity, discipline in capital allocation, and a focus on long-term value creation. This decision honors the legacy of Jorge Mario Velásquez and sends a message of confidence and stability to shareholders, investors, employees, and partners.”

Rosario Córdoba
Chair of the Board of Directors
Grupo Argos

The organization thanks Dr. Jorge Mario Velásquez for his leadership of Grupo Argos and for serving as Chair of the Boards of Cementos Argos, Celsia, and Odinsa. Under his leadership—which will continue through March 31, 2026, the company’s net income increased from COP 643 billion in 2015 to COP 7.6 trillion in 2024, an 11.8x rise, while dividends grew by more than 157% over the same period, from COP 268 to COP 688 per share. Additionally, through the transaction executed in 2025 that involved delivering COP 10.8 trillion in value to shareholders, the company consolidated a corporate transformation aimed at simplifying its structure and specializing in building materials and infrastructure. All of this has been possible thanks to his long-term vision, principled leadership, and unwavering commitment to the country’s development—a legacy that will guide the next chapter in the company’s history.