<SEC-DOCUMENT>0000950103-22-004121.txt : 20220307
<SEC-HEADER>0000950103-22-004121.hdr.sgml : 20220307
<ACCEPTANCE-DATETIME>20220307161519
ACCESSION NUMBER:		0000950103-22-004121
CONFORMED SUBMISSION TYPE:	6-K
PUBLIC DOCUMENT COUNT:		2
CONFORMED PERIOD OF REPORT:	20220307
FILED AS OF DATE:		20220307
DATE AS OF CHANGE:		20220307

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			Grupo Aval Acciones Y Valores S.A.
		CENTRAL INDEX KEY:			0001504764
		STANDARD INDUSTRIAL CLASSIFICATION:	COMMERCIAL BANKS, NEC [6029]
		IRS NUMBER:				000000000
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		6-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-36631
		FILM NUMBER:		22718166

	BUSINESS ADDRESS:	
		STREET 1:		CARRERA 13 NO. 26A - 47
		CITY:			Bogota D.C.
		STATE:			F8
		ZIP:			00000
		BUSINESS PHONE:		57 1 241-9700

	MAIL ADDRESS:	
		STREET 1:		CARRERA 13 NO. 26A - 47
		CITY:			Bogota D.C.
		STATE:			F8
		ZIP:			00000
</SEC-HEADER>
<DOCUMENT>
<TYPE>6-K
<SEQUENCE>1
<FILENAME>dp168691_6k.htm
<DESCRIPTION>FORM 6-K
<TEXT>
<HTML>
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     <TITLE></TITLE>
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<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="font: 14pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 14pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-size: 10pt"></FONT></P>

<!-- Field: Rule-Page --><DIV STYLE="margin-top: 0pt; margin-bottom: 0pt; width: 100%"><DIV STYLE="border-top: Black 2pt solid; font-size: 1pt; border-bottom: Black 1pt solid">&nbsp;</DIV></DIV><!-- Field: /Rule-Page -->

<P STYLE="font: 14pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"></P>

<P STYLE="font: 14pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 14pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-size: 14pt"><B>UNITED STATES</B></FONT></P>

<P STYLE="font: 14pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"></P>

<P STYLE="font: 14pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><FONT STYLE="font-size: 14pt"><B>SECURITIES AND
EXCHANGE COMMISSION</B></FONT></P>

<P STYLE="font: 14pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"></P>

<P STYLE="font: 14pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><FONT STYLE="font-size: 14pt"><B>Washington, D.C.
20549</B></FONT></P>

<P STYLE="font: 14pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><FONT STYLE="font-size: 14pt">&nbsp;</FONT></P>

<P STYLE="font: 14pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><FONT STYLE="font-size: 14pt"><B>FORM 6-K</B></FONT><B><FONT STYLE="font-size: 10pt"><BR>
</FONT><FONT STYLE="font-size: 12pt">&nbsp;</FONT></B></P>

<P STYLE="font: 14pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><FONT STYLE="font-size: 12pt"><B>Report Of Foreign
Private Issuer</B></FONT></P>

<P STYLE="font: 14pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"></P>

<P STYLE="font: 14pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><FONT STYLE="font-size: 12pt"><B>Pursuant To Rule
13a-16 Or 15d-16 Of</B></FONT></P>

<P STYLE="font: 14pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"></P>

<P STYLE="font: 14pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><FONT STYLE="font-size: 12pt"><B>The
Securities Exchange Act Of 1934</B></FONT></P>

<P STYLE="font: 14pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><FONT STYLE="font-size: 12pt">&nbsp;</FONT></P>

<P STYLE="font: 14pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><FONT STYLE="font-size: 12pt">For the month of&nbsp;March
 2022</FONT></P>

<P STYLE="font: 14pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><FONT STYLE="font-size: 12pt">&nbsp;</FONT></P>

<P STYLE="font: 14pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"></P>

<!-- Field: Rule-Page --><DIV STYLE="margin: 0pt auto; width: 12%"><DIV STYLE="border-top: Black 1.5pt solid; font-size: 1pt">&nbsp;</DIV></DIV><!-- Field: /Rule-Page -->

<P STYLE="font: 14pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><FONT STYLE="font-size: 12pt">&nbsp;</FONT></P>



<P STYLE="font: 14pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><FONT STYLE="font-size: 12pt"><B>Commission File
Number: 000-54290</B></FONT></P>

<P STYLE="font: 14pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><FONT STYLE="font-size: 12pt">&nbsp;</FONT></P>

<P STYLE="font: 24pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><FONT STYLE="font-size: 18pt"><B>Grupo Aval Acciones
y Valores S.A.</B></FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><FONT STYLE="font-size: 12pt"><B>(Exact name of
registrant as specified in its charter)</B></FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><FONT STYLE="font-size: 12pt">&nbsp;</FONT></P>

<P STYLE="font: 14pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><FONT STYLE="font-size: 12pt"><B>Carrera 13 No.
26A - 47</B></FONT></P>

<P STYLE="font: 14pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"></P>

<P STYLE="font: 14pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><FONT STYLE="font-size: 12pt"><B>Bogot&aacute;
D.C., Colombia</B></FONT></P>

<P STYLE="font: 14pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><FONT STYLE="font-size: 12pt"><B>(Address of principal
executive office)</B></FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 14pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-size: 10pt">Indicate by check
mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F:</FONT></P>

<P STYLE="font: 14pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<TABLE CELLSPACING="0" CELLPADDING="0" ALIGN="CENTER" STYLE="font: 10pt Times New Roman, Times, Serif; width: 50%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 29%; font-size: 10pt; text-align: center"><FONT STYLE="font-size: 10pt">Form 20-F</FONT></TD>
    <TD STYLE="width: 14%"><P STYLE="border-bottom: Black 0.5pt solid; font: 14pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-size: 10pt">X</FONT></P></TD>
    <TD STYLE="width: 15%; font-size: 10pt; text-align: center"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 28%; font-size: 10pt; text-align: center"><FONT STYLE="font-size: 10pt">Form 40-F</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; width: 14%"><FONT STYLE="font-size: 10pt"></TD></TR>
  </TABLE>
<P STYLE="font: 14pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 14pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-size: 10pt">Indicate by check
mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation&nbsp;S-T&nbsp;Rule&nbsp;101(b)(1):</FONT></P>

<P STYLE="font: 14pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<TABLE CELLSPACING="0" CELLPADDING="0" ALIGN="CENTER" STYLE="font: 10pt Times New Roman, Times, Serif; width: 50%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 29%; font-size: 10pt; text-align: center"><FONT STYLE="font-size: 10pt">Yes</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; width: 14%"><FONT STYLE="font-size: 10pt"></TD>
    <TD STYLE="width: 15%; font-size: 10pt; text-align: center"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 28%; font-size: 10pt; text-align: center"><FONT STYLE="font-size: 10pt">No</FONT></TD>
    <TD STYLE="width: 14%"><P STYLE="border-bottom: Black 0.5pt solid; font: 14pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-size: 10pt">X</FONT></P></TD></TR>
  </TABLE>
<P STYLE="font: 14pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 14pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-size: 10pt">Indicate by check
mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation&nbsp;S-T&nbsp;Rule&nbsp;101(b)(7):</FONT></P>

<P STYLE="font: 14pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 14pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"></P>

<TABLE CELLSPACING="0" CELLPADDING="0" ALIGN="CENTER" STYLE="font: 10pt Times New Roman, Times, Serif; width: 50%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 29%; font-size: 10pt; text-align: center"><FONT STYLE="font-size: 10pt">Yes</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; width: 14%"><FONT STYLE="font-size: 10pt"></TD>
    <TD STYLE="width: 15%; font-size: 10pt; text-align: center"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 28%; font-size: 10pt; text-align: center"><FONT STYLE="font-size: 10pt">No</FONT></TD>
    <TD STYLE="width: 14%"><P STYLE="border-bottom: Black 0.5pt solid; font: 14pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-size: 10pt">X</FONT></P></TD></TR>
  </TABLE>
<P STYLE="font: 14pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 14pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

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<P STYLE="font: 14pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"></P>

<P STYLE="font: 14pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"></P>

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    <DIV STYLE="margin-top: 6pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="text-align: center; margin-top: 0pt; margin-bottom: 0pt">&nbsp;</P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 12pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-size: 10pt"></FONT></P>

<P STYLE="font: 12pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 12pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-size: 10pt"><B>GRUPO AVAL ACCIONES
Y VALORES S.A.</B></FONT></P>

<P STYLE="font: 12pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 12pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-size: 10pt"><B>TABLE OF CONTENTS</B></FONT></P>

<P STYLE="font: 12pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Arial, Helvetica, Sans-Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 9%; font-size: 10pt; text-align: center"><FONT STYLE="font-size: 10pt"><B>ITEM</B></FONT></TD>
    <TD STYLE="width: 91%; font-size: 10pt; text-align: center"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="font-size: 10pt; text-align: center"><FONT STYLE="font-size: 10pt">1.</FONT></TD>
    <TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 10pt">Notice regarding Ordinary General Shareholders&rsquo; meeting to be held
    on March&nbsp;30, 2022</FONT></TD></TR>
  </TABLE>

</FONT></TD></TR></FONT></TD></TR></FONT></TD></TR>


<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="margin: 0"></P>

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    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 12pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 0.25in; text-align: right"><FONT STYLE="font-size: 10pt"><B>Item
1</B></FONT></P>

<P STYLE="font: 12pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 0.25in; text-align: right">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt"><IMG SRC="image_001.jpg" ALT="" STYLE="height: 41px; width: 148px"></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 174.45pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0in; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0in; text-indent: 0in">Grupo Aval
Acciones y Valores S.A. (&ldquo;Grupo Aval&rdquo;) informs the following:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 5.7pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in; text-align: left">1.</TD><TD>The Ordinary General Meeting of Shareholders of Grupo Aval
has been summoned for March 30, 2022, at 9:00 am, at the auditorium of Banco de Bogot&aacute; located at Calle 36 No. 7-47, first floor
in Bogot&aacute; D.C.</TD>
</TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in; text-align: left">2.</TD><TD>The following will be the proposed distribution of the profits
obtained during year 2021, to be considered at such Ordinary General Shareholders Meeting:</TD>
</TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0in; text-indent: 0in"><B>GRUPO
AVAL ACCIONES Y VALORES S.A.</B></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0in; text-indent: 0in"><B>PROPOSED DISTRIBUTION OF PROFITS</B></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 312.75pt 0pt 18.15pt"></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0in; text-indent: 0in"><B>FOR THE
PERIOD BEGINNING ON JANUARY 1st AND ENDING ON</B></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0in; text-indent: 0in"><B>DECEMBER 31st, 2021</B></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0in; text-indent: 0in"><B>GENERAL MEETING OF SHAREHOLDERS</B></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 222.4pt 0pt 18.15pt">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Calibri, Helvetica, Sans-Serif; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 53%; padding-left: 0pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">Net I<FONT STYLE="text-decoration: none">ncome</FONT></FONT></TD>
    <TD STYLE="text-align: right; padding-left: 0pt; width: 17%"><FONT STYLE="text-decoration: none">&nbsp;</FONT></TD>
    <TD STYLE="padding-left: 0pt; width: 15%; text-align: right"><FONT STYLE="text-decoration: none">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right; padding-left: 0pt; width: 15%"><P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: right"><FONT STYLE="text-decoration: none">3,502,757,886,033.29</FONT></P></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="text-align: right; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="padding-left: 0pt; text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right; padding-left: 0pt">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 0pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; text-decoration: none">With
    tax benefit</FONT></TD>
    <TD STYLE="text-align: right; padding-left: 0pt"><FONT STYLE="text-decoration: none">&nbsp;</FONT></TD>
    <TD STYLE="padding-left: 0pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; text-decoration: none">1,619,852,360,114.14</FONT></TD>
    <TD STYLE="padding-left: 0pt; text-align: right"><FONT STYLE="text-decoration: none">&nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 0pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; text-decoration: none">Without
    tax benefit</FONT></TD>
    <TD STYLE="text-align: right; padding-left: 0pt"><FONT STYLE="text-decoration: none">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-left: 0pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; text-decoration: none">1,882,905,525,919.15</FONT></TD>
    <TD STYLE="padding-left: 0pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; text-decoration: none">&nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="text-align: right; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="padding-left: 0pt; text-align: right">&nbsp;</TD>
    <TD STYLE="padding-left: 0pt; text-align: right">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 0pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; text-decoration: none">Plus:</FONT></TD>
    <TD STYLE="text-align: right; padding-left: 0pt"><FONT STYLE="text-decoration: none">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right; padding-left: 0pt"><FONT STYLE="text-decoration: none">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right; padding-left: 0pt"><FONT STYLE="text-decoration: none">&nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 0pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; text-decoration: none">Occasional
    reserve release at the disposal of the General</FONT></TD>
    <TD STYLE="text-align: right; padding-left: 0pt"><FONT STYLE="text-decoration: none">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right; padding-left: 0pt"><FONT STYLE="text-decoration: none">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right; padding-left: 0pt"><P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: right"></P></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 0pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; text-decoration: none">Meeting
    of Shareholders</FONT></TD>
    <TD STYLE="text-align: right; padding-left: 0pt"><FONT STYLE="text-decoration: none">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right; padding-left: 0pt"><FONT STYLE="text-decoration: none">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right; padding-left: 0pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">10,518,334,949,537.70<FONT STYLE="text-decoration: none">&nbsp;</FONT></FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 0pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; text-decoration: none"><B>Year
    2016 and previous years</B></FONT></TD>
    <TD STYLE="text-align: right; padding-left: 0pt"><FONT STYLE="text-decoration: none">&nbsp;</FONT></TD>
    <TD STYLE="padding-left: 0pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; text-decoration: none">2,057,618,814,741.97</FONT></TD>
    <TD STYLE="padding-left: 0pt; text-align: right"><FONT STYLE="text-decoration: none">&nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 0pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; text-decoration: none">With
    tax benefit</FONT></TD>
    <TD STYLE="padding-left: 0pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; text-decoration: none">-</FONT></TD>
    <TD STYLE="text-align: right; padding-left: 0pt"><FONT STYLE="text-decoration: none">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right; padding-left: 0pt"><FONT STYLE="text-decoration: none">&nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 0pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; text-decoration: none">Without
    tax benefit</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-left: 0pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; text-decoration: none">2,057,618,814,741.97</FONT></TD>
    <TD STYLE="text-align: right; padding-left: 0pt"><FONT STYLE="text-decoration: none">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right; padding-left: 0pt"><FONT STYLE="text-decoration: none">&nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 0pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; text-decoration: none"><B>Year
    2017 and following</B></FONT></TD>
    <TD STYLE="text-align: right; padding-left: 0pt"><FONT STYLE="text-decoration: none">&nbsp;</FONT></TD>
    <TD STYLE="padding-left: 0pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; text-decoration: none">8,648,923,134,529.43</FONT></TD>
    <TD STYLE="padding-left: 0pt; text-align: right"><FONT STYLE="text-decoration: none">&nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 0pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; text-decoration: none">With
    tax benefit</FONT></TD>
    <TD STYLE="padding-left: 0pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; text-decoration: none">4,159,927,422,835.00</FONT></TD>
    <TD STYLE="text-align: right; padding-left: 0pt"><FONT STYLE="text-decoration: none">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right; padding-left: 0pt"><FONT STYLE="text-decoration: none">&nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 0pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; text-decoration: none">Without
    tax benefit</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-left: 0pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; text-decoration: none">4,488,995,711,694.43</FONT></TD>
    <TD STYLE="text-align: right; padding-left: 0pt"><FONT STYLE="text-decoration: none">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right; padding-left: 0pt"><FONT STYLE="text-decoration: none">&nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="padding-left: 0pt; text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="text-align: right; padding-left: 0pt">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 0pt"><P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt"><FONT STYLE="text-decoration: none">Minus:</FONT></P>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 3pt"></P>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt"><FONT STYLE="text-decoration: none">Effect
    of applying Decree 1311 of 2021:&nbsp;</FONT></P>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt"><FONT STYLE="text-decoration: none">To
    be taken from unearned income for 2016 and prior years.</FONT></P>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 34.3pt 0pt 3pt"></P></TD>
    <TD STYLE="text-align: right; padding-left: 0pt"><FONT STYLE="text-decoration: none">&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: bottom; text-align: right; padding-left: 0pt"><P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt"><FONT STYLE="text-decoration: none">(188,206,999,733.68)</FONT></P></TD>
    <TD STYLE="text-align: right; padding-left: 0pt"><FONT STYLE="text-decoration: none">&nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="text-align: right; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="text-align: right; padding-left: 0pt">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 0pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; text-decoration: none">Adjustment
    in deferred tax due to change in income tax rate</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: right; padding-left: 0pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; text-decoration: none">(188,206,999,733.68)</FONT></TD>
    <TD STYLE="text-align: right; padding-left: 0pt"><FONT STYLE="text-decoration: none">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right; padding-left: 0pt"><FONT STYLE="text-decoration: none">&nbsp;</FONT></TD></TR>

<TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="text-align: right; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="text-align: right; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="text-align: right; padding-left: 0pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 0pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; text-decoration: none">Total
    Income available at the disposal of the General</FONT></TD>
    <TD STYLE="text-align: right; padding-left: 0pt"><FONT STYLE="text-decoration: none">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right; padding-left: 0pt"><FONT STYLE="text-decoration: none">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: right; padding-left: 0pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; text-decoration: none"><B></B></FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 0pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; text-decoration: none">Meeting
    of Shareholders:</FONT></TD>
    <TD STYLE="text-align: right; padding-left: 0pt"><FONT STYLE="text-decoration: none">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right; padding-left: 0pt"><FONT STYLE="text-decoration: none">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: right; padding-left: 0pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; text-decoration: none">14,021,092,835,571.00</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="text-align: right; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="text-align: right; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="text-align: right; padding-left: 0pt">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD COLSPAN="2" STYLE="padding-left: 0pt"><FONT STYLE="text-decoration: none; font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><B>Occasional reserve at the disposal of the General Meeting of Shareholders</B></FONT></TD>
    <TD STYLE="text-align: right; padding-left: 0pt"><FONT STYLE="text-decoration: none">&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: bottom; text-align: right; padding-left: 0pt"><P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt"><FONT STYLE="text-decoration: none">14,021,092,835,571.00</FONT></P></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="text-align: right; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="text-align: right; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right; padding-left: 0pt">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 0pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; text-decoration: none">Total
    with tax benefit:</FONT></TD>
    <TD STYLE="text-align: right; padding-left: 0pt"><FONT STYLE="text-decoration: none">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right; padding-left: 0pt"><P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: right; margin-top: 0pt; margin-bottom: 0pt"><FONT STYLE="text-decoration: none">5,779,779,782,949.22</FONT></P></TD>
    <TD STYLE="text-align: right; padding-left: 0pt"><FONT STYLE="text-decoration: none">&nbsp;</FONT></TD></TR>

<TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="text-align: right; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="text-align: right; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="text-align: right; padding-left: 0pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 0pt"><P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 1.7pt"><FONT STYLE="text-decoration: none">Year 2021</FONT></P>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 1.7pt"><FONT STYLE="text-decoration: none"></FONT></P></TD>
    <TD STYLE="text-align: right; padding-left: 0pt"><P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: right; margin-top: 0pt; margin-bottom: 0pt"><FONT STYLE="text-decoration: none">1,619,852,360,114.14</FONT></P></TD>
    <TD STYLE="text-align: right; padding-left: 0pt"><FONT STYLE="text-decoration: none">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right; padding-left: 0pt"><FONT STYLE="text-decoration: none">&nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 0pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; text-decoration: none">Year
    2020</FONT></TD>
    <TD STYLE="text-align: right; padding-left: 0pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; text-decoration: none">1,524,244,600,639.30</FONT></TD>
    <TD STYLE="text-align: right; padding-left: 0pt"><FONT STYLE="text-decoration: none">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right; padding-left: 0pt"><FONT STYLE="text-decoration: none">&nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 0pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; text-decoration: none">Year
    2019</FONT></TD>
    <TD STYLE="text-align: right; padding-left: 0pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; text-decoration: none">1,605,196,863,857.97</FONT></TD>
    <TD STYLE="text-align: right; padding-left: 0pt"><FONT STYLE="text-decoration: none">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right; padding-left: 0pt"><FONT STYLE="text-decoration: none">&nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 0pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; text-decoration: none">Year
    2018</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: right; padding-left: 0pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; text-decoration: none">1,030,485,958,337.81</FONT></TD>
    <TD STYLE="text-align: right; padding-left: 0pt"><FONT STYLE="text-decoration: none">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right; padding-left: 0pt"><FONT STYLE="text-decoration: none">&nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="text-align: right; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="text-align: right; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="text-align: right; padding-left: 0pt">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 0pt"><P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt"><FONT STYLE="text-decoration: none">Total
    without tax benefit:</FONT></P>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 7.75pt"><FONT STYLE="text-decoration: none"></FONT></P></TD>
    <TD STYLE="text-align: right; padding-left: 0pt"><FONT STYLE="text-decoration: none">&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: bottom; text-align: right; padding-left: 0pt"><P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt"><FONT STYLE="text-decoration: none">8,241,313,052,621.80</FONT></P></TD>
    <TD STYLE="text-align: right; padding-left: 0pt"><FONT STYLE="text-decoration: none">&nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="text-align: right; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="text-align: right; padding-left: 0pt">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 0pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; text-decoration: none">Year
    2021</FONT></TD>
    <TD STYLE="text-align: right; padding-left: 0pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; text-decoration: none">1,882,905,525,919.15</FONT></TD>
    <TD STYLE="text-align: right; padding-left: 0pt"><FONT STYLE="text-decoration: none">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right; padding-left: 0pt"><FONT STYLE="text-decoration: none">&nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 0pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; text-decoration: none">Year
    2020</FONT></TD>
    <TD STYLE="text-align: right; padding-left: 0pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; text-decoration: none">874,756,729,820.62</FONT></TD>
    <TD STYLE="text-align: right; padding-left: 0pt"><FONT STYLE="text-decoration: none">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right; padding-left: 0pt"><FONT STYLE="text-decoration: none">&nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 0pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; text-decoration: none">Year
    2019</FONT></TD>
    <TD STYLE="text-align: right; padding-left: 0pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; text-decoration: none">1,426,041,296,499.94</FONT></TD>
    <TD STYLE="text-align: right; padding-left: 0pt"><FONT STYLE="text-decoration: none">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right; padding-left: 0pt"><FONT STYLE="text-decoration: none">&nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 0pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; text-decoration: none">Year
    2018</FONT></TD>
    <TD STYLE="text-align: right; padding-left: 0pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; text-decoration: none">1,323,914,957,506.00</FONT></TD>
    <TD STYLE="text-align: right; padding-left: 0pt"><FONT STYLE="text-decoration: none">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right; padding-left: 0pt"><FONT STYLE="text-decoration: none">&nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 0pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; text-decoration: none">Year
    2017</FONT></TD>
    <TD STYLE="text-align: right; padding-left: 0pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; text-decoration: none">864,282,727,867.80</FONT></TD>
    <TD STYLE="text-align: right; padding-left: 0pt"><FONT STYLE="text-decoration: none">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right; padding-left: 0pt"><FONT STYLE="text-decoration: none">&nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 0pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; text-decoration: none">Year
    2016 and previous</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: right; padding-left: 0pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; text-decoration: none">&nbsp;&#9;1,869,411,815,008.29</FONT></TD>
    <TD STYLE="text-align: right; padding-left: 0pt"><FONT STYLE="text-decoration: none">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right; padding-left: 0pt"><FONT STYLE="text-decoration: none">&nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="text-align: right; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="text-align: right; padding-left: 0pt">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid; text-align: right; padding-left: 0pt">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 0pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; text-decoration: none">TOTAL</FONT></TD>
    <TD STYLE="text-align: right; padding-left: 0pt"><FONT STYLE="text-decoration: none">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right; padding-left: 0pt"><FONT STYLE="text-decoration: none">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: right; padding-left: 0pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; text-decoration: none; text-underline-style: double"><B>14,021,</B></FONT><B><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; text-underline-style: double"><U STYLE="text-decoration: none">092,835,571.00</U></FONT></B></TD></TR>
  </TABLE>

<P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>

<P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>

<P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>

<P STYLE="margin-top: 0; margin-bottom: 0"></P>

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<P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>

<P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: center"><FONT STYLE="font-size: 10pt">SIGNATURE</FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: center"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"><FONT STYLE="font-size: 10pt">Pursuant to the
requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned,
thereunto duly authorized.</FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"><FONT STYLE="font-size: 10pt">Date: March&nbsp;7,
2022</FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD COLSPAN="3"><FONT STYLE="font-size: 10pt"><B>GRUPO AVAL ACCIONES Y VALORES S.A.</B></FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="3">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="3">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">By:&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-size: 10pt">/s/ Jorge Adri&aacute;n
    Rinc&oacute;n Plata</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 60%"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 2%"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 2%"><FONT STYLE="font-size: 10pt">Name:&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD STYLE="width: 36%"><FONT STYLE="font-size: 10pt">Jorge Adri&aacute;n Rinc&oacute;n Plata</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">Title:</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">Chief Legal Counsel</FONT></TD></TR>
  </TABLE>

<P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>


<P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>

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