Grupo Argos Board of Directors Authorized by the Assembly to Deliberate and Decide on the Tender Offer for Grupo Nutresa

• Observing the corporate governance framework of Grupo Argos, the Shareholders Assembly authorized Mrs. Ana Cristina Arango and Mrs. Claudia Betancourt, members of the Board of Directors of the company, to deliberate and decide regarding the attender offer for Grupo Nutresa.
• The Board of Directors, with five of its members, will make the decision regarding the tender offer for Grupo Nutresa shares. Gonzalo Pérez, president of Grupo Sura and Carlos Ignacio Gallego, president of Grupo Nutresa, will not participate in the deliberation and decision.

With a representation of more than 83% of Grupo Argos shares, this Friday, December 3, in a special meeting, the Shareholders Assembly authorized Mrs. Ana Cristina Arango and Mrs. Claudia Betancourt to participate in the decision regarding the Grupo Nutresa tender offer.

Taking into account the ongoing tender offer for Grupo Nutresa shares, and that after the Shareholders Assembly was convened, a request for authorization of the tender offer for Grupo Sura shares was submitted, Mr. Carlos Ignacio Gallego, President of Grupo Nutresa and Mr. Gonzalo Pérez, President of Grupo Sura, will not participate in their capacity as members of the Board of Directors of Grupo Argos in the deliberations and decisions regarding the tender offer for Grupo Nutresa.

The Board of Directors of Grupo Argos will conduct a comprehensive analysis of the offer, considering, among others, the studies prepared by a group of national and international advisors on the economic, legal and strategic alignment aspects of the tender, on which it will make a timely decision.