GRUPO AVAL ACCIONES Y VALORES S.A. 2026 Q2 Earnings Call

Thank you. Good morning, everyone, and thank you for joining us for our second quarter 2026 conference call. I am here with Diego Solano, our CFO, Camilo Pérez, Chief Economist of Banco de Bogotá, and Ernesto Gutiérrez de Piñeres, Chief Technology Officer. Before discussing our query results, I want to address the earthquake that took place in Colombia this week. On behalf of Grupo Aval, our thoughts are with everyone affected. Our priority has been the safety of our employees, our clients, and communities we touch. We took immediate action to leverage our transactional logistical capabilities to support emergency relief efforts. We enabled our network of over 2,700 ATMs, mobile banking platforms, and dale! to channel donations to the Colombian Red Cross and the Colombia Un Solo Corazón initiative. Through Sencia, a Corficolombiana investment, we also set up El Campín Stadium as a collection center for essential supplies.

Yesterday, we had more than 1,000 people there in the city. Regarding our operations in the areas most affected by the earthquake, we have temporary service interruptions in several service points to ensure the safety of our clients and employees. In addition, these regions were initially affected by widespread electricity and communication failures. Our operations and services have been progressively restored. Turning now to our corporate highlights. Our attributed net income reached COP 577 billion, up 17% compared to the second quarter of 2025, and the highest quality result since March 2022, reflecting the continuous strengthening of profitability. ROAE reached 12.7% for the quarter. The quarter was marked by solid loan and deposit growth and strong contributions from our investment portfolio, and further maintained stable asset quality and continued efficiency gains.

In addition, we continue to deploy strategic initiatives focused on deepening retail customer presence and strengthening our payments ecosystem. Through our alliance with Visa, we deliver unique customer experiences, reaching more than 750,000 participants in the brand activation activities launched during the FIFA World Cup 2026. In parallel, our bank has been working in QR-based instant payment collection solution for businesses, further enhancing our transaction banking offering and deposit franchise. As for the recent developments, on July 31st, Banco de Bogotá completed the transfer of the retail banking and supply abilities and contracts from Banco Itaú in Colombia. The transaction has more than 250,000 retail banking customers and reinforces Banco de Bogotá's strategy to grow and strengthen its retail banking franchise, especially in the affluent segment. On June 19th, Grupo Aval Holding for Banco de Bogotá, Banco AV Villas and Banco Popular contributed their investments in Corficolombiana to a special purpose vehicle.

Each entity retains its direct stake in Corfi. This transaction is primarily aimed at simplifying Corficolombiana ownership structure, consolidating the stake into a single jointly controlled vehicle within Grupo Aval. Diego Solano will touch on this in more detail later on. We will begin this call discussing some key elements of our technology strategy, a key driver of Grupo Aval's transformation and future growth. Before passing the call on to Ernesto Gutiérrez de Piñeres, our Chief Technology Officer, I want to highlight this. At Grupo Aval, we are deploying a technology strategy to support faster innovation and more efficient operation and to improve our customers' experience. This strategy seeks to build advantages to compete in a more digital and connected financial system, shaped by data analytics and artificial intelligence, and to redirect operational CapEx to transformation investment aligned with best practices for the financial industry.

To achieve these results, we are working on four key techniques. First, improving our service platforms to allow us to better understand and serve our customers. Second, reengineering our digital core to accelerate our time to market. Third, migrating to a Grupo Aval cloud, a modern and resilient platform that will support this evolution by speeding up our adoption of new solutions, improving the resilience of our operational platform and capturing synergies across the group. Finally, strengthening our data platforms to improve real time decision making. I will turn the call over to Ernesto Gutiérrez de Piñeres who will provide additional color on our technology strategy.

Ernesto? Thank you, María Lorena Gutiérrez Botero.

Good morning, everyone. I would like to give you a brief update on the execution of our technology strategy, and more importantly, on how it's beginning to translate into growth, structural efficiency, and resilience across the Grupo Aval. As María Lorena Gutiérrez Botero has outlined, technology innovation, data, and artificial intelligence are key enablers of our long-term strategy. Our focus now is execution. We start from an important competitive advantage, our scale. Grupo Aval is a multi-entity financial group, and our technology strategy is designed to turn that scale into economic advantage by building shared capabilities that can be developed once and developed across the group. This is the foundation of our common digital core, a secure, scalable and offering architecture designed to operate increasingly in real time, connect with partners and ecosystem, and prepare the group for the opportunities created by open finance and open data.

We are executing this strategy across four main pillars. The first one is about efficiency. Knowledge and serving our customer better. About this system is creating a more integrated view of our customers across the group, allowing us to improve continually across channels, personalize interactions, and progressively increase our ability to offer certain products and services across our entities. The business objective is straightforward: higher conversion and stronger retention, and greater value for the customer. Artificial intelligence is becoming an important part of the business strategy. For example, in Nexa BPO company will take 30% of a personal installed flow to be handled through the AI-enabled solution. This should increase scalability and response capacity while maintaining the service quality and customer experience for our customers. At the same time, digital adoption continues to expand. Today, 67% of our customers already conduct transactions through the digital channels.

The second point is our digital course. When accelerating our digital business, we are building shared capabilities to design, launch, and scale digital products faster, while progressively reducing dependency on traditional core systems and making it easier to connect with external ecosystem and partners. Our new digital personal loan solution is on track to go live in the fourth quarter of the year. In parallel, we continue to advance our capabilities for credit cards and customer loans and retail banking transactional services. Together, these initiatives address a significant part of the financial needs of our retail customers. The value proposition is clear: shorter time to market and lower structural cost per product. Importantly, these are not capabilities designed for a single entity. They are being built to be reused and scaled across Grupo Aval. The third point is Delos, turning data into better decisions.