Grupo Aval Acciones Y Valores S.A. reported unaudited consolidated earnings results for the year ended December 31, 2012. Total interest income was COP 10,205.0 billion against COP 8,150.8 billion last year. Net interest income was COP 6,310.3 billion against COP 5,468.9 billion last year. Income before income tax expense and non-controlling interest was COP 3,809.2 billion against COP 3,508.2 billion last year. Net income before minority interest was COP 2,437.4 billion against COP 2,371.5 billion last year. Net income attributable to shareholders was COP 1,526.4 billion against COP 1,291.2 billion last year. ROAA was 2.1% against 2.3% last year. ROAE was 17.8% against 23.8% last year. EPS was COP 82.3 against COP 79.2 last year. Net income attributable to shareholders for the year ended December 31, 2012 increased by 18.2%, or COP 235.2 billion against the year ended December 31, 2011, primarily due to: (i) an increase in total interest income of COP 2,054.1 billion, (ii) an increase in fees and other services income of COP 147.7 billion, (iii) an increase in total non-operating income of COP 251.8 billion, and (iv) a decrease in non-controlling interest of COP 169.2 billion. These effects were partially offset by increases in: (i) total interest expense of COP 1,212.7 billion, (ii) total net provisions of COP 501.0 billion, (iii) total operating expenses of COP 366.6 billion, and (iv) income tax expense of COP 235.0 billion. Net interest income increased by 15.4%, or COP 841.4 billion. The main reasons for this increase were a COP 1,723.6 billion increase in interest income from loans and financial leases and a COP 267.7 billion increase in interest income from investment securities. The increase in total interest income was partially offset by a COP 1,212.7 billion increase in total interest expense. Total operating income was COP 8,660.6 billion against COP 8,244.9 billion last year. Net operating income was COP 3,361.1 billion against COP 3,312.0 billion last year.

Grupo Aval Acciones Y Valores S.A. at its AGM held on March 22, 2013, approved cash dividend of $4.20 per share per month, from April to September of 2013. The dividends for the month of April 2013, will be paid from the fourth trading day following the date in which the shareholders general assembly approved the distribution of profits, which is from April 2, 2013. In this month, dividends will be paid until April 11, 2013.

Grupo Aval Acciones Y Valores S.A. at its AGM to be held on March 22, 2013, is to consider the distribution of a cash dividend of $4.20 per share per month, from April to September of 2013. Dividends shall be paid within the first ten days of each month to shareholders at the moment each payment is due, according to the applicable regulation and in proportion to the amount paid when such dividend becomes available.