Grupo Aval Acciones y Valores S A : 15th BBVA The Americas Conference

CORPORATE PRESENTATION

GRUPO AVAL

March, 2026

Key Consolidated Figures (December 25)

Ps 348.G Tn I US$ G2.G Bn1

Total assets

Ps 46G.5 Tn2 I US$ 125.0 Bn1

Assets under management

Ps 1G0.G Tn I US$ 50.8 Bn1

Gross loans

Ps 207.4 Tn I US$ 55.2 Bn1

Deposits

Ps 18.4 Tn I US$ 4.G Bn1

Attributable equity

+18 MM

Banking clients

+15 MM

Pension fund clients

Colombia

67,585 Employees G65 Branches 2,725 ATM’s

116,5G4 Banking correspondents

Fully Integrated

and inter-operable network

Peru

3 Note: 1) Exchange rate of Ps 3,757.08 as of December 31st, 2025 2). Includes the sum of AUMs for Provenir and Fiduciaries

GDP (YoY%)

GDP 2025 (YoY%)

Public vs. Private GDP *

(YoY%)

12%

-10% -5% 0% 5% 10%

Public

Private

15%

10%

8%

6%

4%

2%

0%

-2%

-4%

-6%

Other services Commerce Social services Agriculture

Financial services

GDP

Real state Industry

Professional services

Utilities Communications Construction

-2.8%

4.6%

4.5%

3.1%

2.8%

2.6%

2.0%

1.9%

1.3%

1.1%

1.0%

9.9%

10%

5%

0%

-5%

7.1%

1.8%

-8%

2019 2021 2023 2025

Aval guidance

FY 26: 2.4%

3.80%

2.6%

0.8% 1.5%

GDP

Average 2000-1G

Oil and mining -6.2%

-10%

dic-19 dic-21 dic-23 dic-25

Source: DANE. Calculations and estimates by Banco de Bogotá Economic Research and Markets Analysis * Public GDP corresponds to government spending on the demand side. Private GDP is the residual. 4

Inflation vs. Central bank

interest rate (YoY%, %)

Current account vs. Exchange rate

(12-month %GDP, USD/COP avg. inverted)

Primary fiscal deficit central

Government (% GDP, YTD)

14%

12%

Aval guidance

EoP 26: 11.75%

Aval guidance

EoP 26: 6.2%

-1%

-2%

3,500 4%

-1.G%

3,682

2%

10%

10.25%

-3%

-4%

4,000

0%

0.3%

-0.7%

8%

6%

5.4%

-5%

-6%

-7%

4,500

5,000

-2%

-4%

Target in 2025 Budget*

-2.4%

-3.2%

4%

Jan-24 Jul-24 Jan-25 Jul-25 Jan-26 Central bank rate Headline inflation

Mar-22 Mar-24 Mar-26 Current account (12-month)

Exchange rate (USD/COP)

-6%

Jan Mar May Jul Sep Nov

Range 2004-22 Average 2025

Source: DANE, Banco de la República, MinHacienda. Calculations and estimates by Banco de Bogotá Economic Research and Markets Analysis. * Reference in the National Budget after the suspension of the Fiscal Rule. 5

Evolution of Grupo Aval’S unconSolidated aSSetS

Figures in Ps. billion

Grupo Aval’s

NYSE IPO

Preferred stock

issuance

18,8G7

27,576

IFRS

25,575

Adoption

BAC

Spin-off

20,037

20,G40

21,785

17,864

BAC acquisition

8,562

2,735

1GGG 2000 2001 2002 2003 2004 2005 2006 2007 2008 200G 2010 2011 2012 2013 2014 2015 2016 2017 2018 201G 2020 2021 2022 2023 2024 2025

6

1G71 –

1G72

1GG1 –

1GG8

1GG1 –

1GG4

1GG7 –

1GGG

1GG8 –

1GGG

2000 –

2007

2010 –

2011

2012 –

2013

2014 –

2018

201G –

2020

2021 – 2025

2024

Acquisitions and entrance to the banking industry

Acquisition of Banco de Bogotá to strengthen our position in the banking sector

Entrance to the pension and severance business

Privatization of Banco Popular

Acquisition

of Corfi

Grupo Aval is created to consolidate investments in the financial sector

Further MsA and consolidation

Strategic reorganization of Banco Popular

International Expansion to Central America

Bond and stock issuances

Strategic acquisitions

NYSE IPO Grupo Aval’s

US$1 bn

bond issuance

Strategic

acquisitions

Strategic reorganization

Spin-off and sale of BHI

Purchase of Aval Fiduciaria and Aval Casa de Bolsa

Strategic reorganization of Fiduciary and Trust management services

Divestment of MFG

BdB’s purchase of Itaú Colombia’s retail banking

Corfi acquisition of 100% of

Zelestra and 51% of Sencia

7

The divestment of MFG strengthens Banco de Bogotá’s position to pursue stronger growth in its core market and reallocates capital toward businesses with stronger strategic alignment and long-term potential.

Estimated Figures in USD million@ Feb-26

Banco de Bogotá’s purchase of Itaú Colombia’s retail banking(2) , by adds ~277 thousand clients, reinforces Banco de Bogotá’s focus on the affluent segment (a 67% increase in clients), enhances the quality of our client mix, and strengthens our competitive positioning in Colombia.

COP trillion and US$ million; Figures as of Nov-25

US$ 7 Gross loans

US$ 140 Deposits

BV of MFH’s investment

Total Cash Received

Sale price

COP 6.4

COP 3.9

Gross loans

Deposits

446.5

1.14x

507.3

COP

Market Share

Consumer loans and mortgages

6.4

1.7%

Mortgages

3.0

2.4%

Personal loans

1.7

2.9%

Credit cards

0.8

2.1%

Other consumer loans

0.9

0.5%

@ 1.03x BV

Other cash received(1)

The sale process for this operation is expected to close over the following months, following regulatory approvals in Panama. This quarter, Multi Financial Group’s statement of financial and P&L have been classified as discontinued operations.

Deposits from individuals

3.9

1.6%

Term deposits

2.3

1.8%

Savings and Checking accounts 1.6 1.3%

Includes purchase price recovery and cash dividends.

The deal excludes Itaú’s corporate banking and is pending regulatory approval.

8

Acquisition of 100% of a regional renewable generation platform with presence in Colombia, Chile, and Peru with a contracted capacity of

1.4 Gw.

Acquisition of 51% of Sencia, a concessionaire for a Public-Private Partnership responsible for the renovation, construction, operation, and maintenance of the “El Campín” complex

The project will include:

COP 2.4 trillion investment

(CAPEX)

167,000 sq mt of intervened

•

area

29.2 years of concession Hospital, hotel, commercial real estate, food court and auditorium

On January 2, Aval Fiduciaria consolidated all the fiduciary businesses of Fiduciaria Bogotá, Fiduciaria de Occidente and Fiduciaria Popular.

#1 player in the industry by AUM: COP $200 trillion. Complete product offering with +33 funds and +5.500 trust and fiduciary businesses.

Following the transaction, we will exercise direct control over Aval Fiduciaria with a 28.1% direct ownership and will receive economic rights over 77.2% of the company.

2.7%

1.1%

24.5%

2.5%

28.1%

41.2%

Grupo Aval Banco de Bogotá

Banco de Occidente

Banco Popular

Corfi

Other

9

Figures at December 31, 2025

Limited

Direct ownership

Indirect ownership

structure

Banco de Bogotá Banco de Occidente Banco Popular

AV Villas

Corfi

Total

% Consolidated by Aval

(1) Ownership in Multibank

68.9%

99.6%

GG.6%

68.6%

72.3%

(1)

93.9%

8.7%

Total Shares

Corfi

34.7%

4.2%

5.2%

52.8%

40.5%

79.9%

20%

Porvenir

46.9%

33.1%

100%

75.8%

40.8%

Aval Casa de Bolsa

22.8%

7.9%

27.3%

G8.8%

87.8%

94.5%

Aval Fiduciaria

5.5%

100.0%

G8.5%

70.0%

Aval Banca de Inversión

30.0%

82.2%

Aval Valor Compartido

20.0%

20.0%

20.0%

40.0%

100.0%

7G.0%

Gou Payments

20.0%

20.0%

20.0%

40.0%

100.0%

7G.0%

100%

GAL

100.0%

10

Commercial Banking Strategic FocuS

Corporate

Segments

Medium enterprises

SMEs and very small businesses Government

Affluent

Mass consumer market

Silver economy and public employees

Banking services

Financial ServiceS and SinergieS

Term loans and working capital Treasury operations

Financial leases International operations Factoring

Personal loans Credit cards Automobile Payroll lending

Mortgages and housing leases Trust services

Merchant banking

Pension and severance fund management

Products and Services

Infrastructure Entertainment infrastructure Energy C gas

Agribusiness Hotels

Mandatory pension funds Voluntary pension funds Severance funds

Other

11

Figures as December 31st, 2025

Market Share

Complete suite of banking and non-banking products offered1

25.0% in gross loans

25.7% in deposits

27.0% in commercial loans

28.9% in consumer lending

17.3% in mortgage lending

24.5% in AUMs*

26.1% in corporate lending

26.1% in medium enterprises

#1

42.2% in payroll lending

#1

24.1% in vehicle loans

21.5% in personal lending

#1

17.4% in credit cards

#1

Leading private pension and severance fund manager in Colombia

#1

▪ +26 thousand hectares of agribusiness farmable land

12

(1) Source: Unconsolidated monthly financial information filed with the Superintendency of Finance. System defined as Banks. Grupo Aval is the sum of Banco de Bogotá, Banco de Occidente, Banco Popular and Banco Av Villas. (*) Information as of Nov-2025 (**) Clients in the mandatory pension fund

Customer experience

Financial diversification

Synergies and efficiencies

Digital transformation

Corporate culture

Sustainability

13

Administrative Synergies and Physical Channels

First wave – 2025

Productivity and Standardization

2025 Achievements

Supply Chain – Procurement

1 Supply Chain – Procurement

Centralized management of purchases across Aval Banks

2 Property Management

40% reduction in procurement

cycle time

3 Facility Management

50% simplification of active contracts

4 Talent Attraction & Selection

Property and Facility Management

5 Payroll Management

2/3 reduction in OREO sale times

Launch of Aval Real Estate Portal

7 Physical Security

6 Physical Channels Management

Standardization of maintenance routines across Aval Banks

8 Cybersecurity

Human Talent – Attraction &

Selection and Payroll Management

14% reduction in time to hire

Launch of Aval Talent Portal

Physical Channels Management

First to implement NFC technology in ATMs

Development of a Machine Learning model to optimize coverage of Aval Banks’ physical service points

Cybersecurity

Centralized SOC operations and critical tools

In-house cybersecurity monitoring services increased from 16 to 23 companies

14

State of the art processing capabilities

1

+9.1million

Keys to individuals

60%

+51 million

transactions

+45.6% market

share of keys to merchants

11.3 trillion COP

payment volumes

Value proposition: autonomy and time to market

Traditional and instant payments processing

Clearing house for Aval Banks and third parties

All channels are interoperable with the Central Bank

Strategy

Value-added products

Interoperability for A2A merchants and payments, competitive advantage in solutions such as cash management, payment collections, and QR.

Open to third parties (new players):

Unbiased and unrestricted services to fintechs, asset managers, payment gateways, credit unions , etc

1. Data From October 6, 2025 to January 31,2026

Source: Banco de la República and internal calculations. 15

DIGITAL WALLET | dale!

Features and benefits

Free and instant interoperable Remittances reception

transfers to any other keys Instant and free to the receptor from 45 countries

Interoperable NFC and QR Payroll reception payments for individuals and With free debit card businesses to any entity

Savings piggy banks

~700,000 Free withdrawals in over 2,738 ATMs and 116,000 correspondents of Red Aval

small businesses and

entrepreneurships Payments for services and Credit application of digital

MISSION agreements to over 22,000 personal loans with Banco de agreements including TAT payment Bogotá and Banco AV Villas

buttons and catalog sales

Provide a fast, interoperable,

secure, and highly stable payment Co-branded cards:

solution (compared to competitors) • Digital and physical

that promotes financial inclusion • No handling fees

and supports the development and • Benefits ecosystem

• #ExperienciasAval

formalization of businesses, • NFC contactless

reducing the use of cash. payments

• International acceptance

• Online payments

Deportivo Independiente Medellín

Plurall Millonarios fútbol Club

Walo C.C. Plaza de las Américas

+4.3 M

Customers

Starting from age 12

+31% Deposit by PSE or cash at any of

Transactions YoY Red Aval’s banking correspondents

Credit card application with Banco AV Villas

Awards and recognitions:

LifeMiles

16

R

Return with

Purpose

Sustainable Return on Equity ESG Strategy

¡We strengthened and accelerated our sustainability performance.!

R

Return with Purpose (Rentabilidad con propósito)

O

Opportunities for All (Oportunidades para todos)

E

Environmen tal Balance (Equilibrio con el planeta)

We achieved a historic score of 81/100, and were

It achieved a

score of 88/100

Ranked #1 globally in its industry

It achieved a score of 66/100

It achieved a score of 73/100

included in the

S&P 2026

Sustainability Yearbook

BB → BBB

We received the Colombia Silver Award in the Payment Solutions category at the Country Awards for our Tag Aval project.

(SF&MC)

They were included in the S&P

2026 Sustainability Yearbook.

17

R

Return with Purpose

Balance | Sustainable Portfolio

COP $44,9 Tn

Social Portfolio

Green Portfolio

COP $36,2 Tn

COP $8,7 Tn

MSMEs

Financial inclusion

Affordable housing

Social infrastructure

Through its sustainable financing lines, it supported renewable energy projects primarily solar with a potential generation capacity of 21.1 GWh. It also backed 45 sustainable construction projects and financed more than 1,023 hybrid and electric vehicles in 2025.

Under its alliance with the National Federation of Coffee Growers, it financed more than 17,450 coffee growers and issued over 449,600 coffee grower ID cards.

Financed 81 projects certified under sustainable construction standards, including Casa Colombia and EDGE.

Provided financial solutions for the silver economy, reaching nearly COP 10 billion – representing 85.4% of the bank’s social portfolio – and benefiting more than 476,000 senior clients.

Acquired 100% of Zelestra’s companies. The portfolio includes solar generation and storage projects, with

1.4 GW contracted and more than 2.1 GW in

development.

18

O

Opportunities for All

We invested $70,000 million COP

in social programs benefiting 2 million people, through projects focused on community infrastructure, education and research, socioeconomic development and promotion of culture, art and sports.

E

We joined with our main entities in the Partnership for Carbon Accounting Financials (PCAF) initiative.

Environmental Balance

Mission

Fulfilled!

The most important social project of the private sector in Colombia. Today we have benefited more than 21,500 people and 3,100 families in more than 80 communities, with energy, water and food security solutions.

Together with Claro Colombia, we bring free connectivity to 34 communities and nearly 7,000 connected people.

We continue to strengthen the sustainability of

the project:

– Financial education for plumbers with Banco Popular

– Business support for +1,500 Wayuú artisans

– First Pilot Child Care Center

Goal: $9,000 million

Total funds raised: COP $11,111 million

In 2024 we contributed $200 million.

Since 2018, Vamos Pa’lante has transformed the lives of more than 7,500 students and has raised more than 56 billion pesos.

Eco-efficiency

Biodiversity

We restore and

protect:

6,698 hectares

We plant:

+3,779,600

trees

We protected:

2,522 species of

fauna and flora

With our entities we reduce the consumption of:

Energy 9.6%

Water 1.9%

Waste 9%

*Cumulatively, at the end of

2025.

19

WITH A DIVERSIFIED LOAN PORTFOLIO AND DEPOSITS BASE

FY26 Loan growth guidance: Gross loans 10% area Commercial loans 7% area Retail loans 14% area

Figures in Ps. Trillion

Gross loans Consumer loans

4.7%

5.2%

183.1 183.3 185.2 18G.3 1G2.7

Mix LTM Δ %

19.6

18.5

0.0 0.0 0.0 20.3 0.0 21.3 0.0 22.1

57.7 58.3 58.7 59.7 60.5

11.5%

31.4%

19.6% Mortgages

4.7% Consumer

57.7

58.3

58.7

14.3

6.9

0.2

6.7 0.2

6.7

0.3

5G.7

6.6

60.5

Mix LTM Δ %

0.3

6.8 0.3

4.3

32.0

14.5

4.3

32.6

14.6

4.3

32.9

15.2

4.3

33.3

16.0

4.4

33.0

37.7% 7.6%

7.2% 0.6%

54.6%

3.2%

Unsecured lending

Automobile

106.9 105.4 106.1 108.3

110.1

57.1%

3.0%

Commercial

Payroll loans

4Q24*

1Q25*

2Q25*

3Q25*

4Q25

4Q24*

1Q25*

2Q25*

3Q25 *

4Q25

Commercial loans

Consumer loans

Mortgages loans

Microcredit loans

Payroll loans

Automobile and vehicle

Personal loans

Credit cards

Other

198.7

22.7

17.8

22.4

24.9

21.5

22.7

186.5

194.2

16.6

200.3

207.4

75.1%

11.2%

21.1

254.0

8.7%

4.0

23.0

17.7

24.6

1.8%

24.9%

4.1 20.5

20.2

4.4

19.6

LTM Δ %

Mix

276.1

272.1

4.3 263.1

258.3

4.4 20.1

Funding Deposits

11.2%

207.4

94.4

54.1% 11.6%

45.9% 10.8%

90.3

85.9

95.1

22.4

23.4

0.3

77.2

92.1

0.5

88.2

Other funding

Deposits

186.5 1G4.2 1G8.7 200.3

Mix LTM Δ %

Demand deposits

Time deposits

4Q24*

1Q25*

2Q25*

3Q25*

4Q25

4Q24*

1Q25*

2Q25*

3Q25*

4Q25

Deposits

Interbank borrowings and overnight funds

Bonds issued

Borrowings from banks and others

Borrowings from development entities

(*)Pro-Forma Information reclassifying MFG’s operations as non-current assets and liabilities held for sale

Time deposits

Checking accounts

Savings deposits

Other deposits

20