SURA ASSET MANAGEMENT Corporate Presentation 4Q18 CONTENT 01 02 - PowerPoint PPT Presentation

SURA ASSET MANAGEMENT Corporate Presentation 4Q18

CONTENT 01 02 03 SURA Asset Financial Annexes Management performance and comercial figures 2 SURA ASSET MANAGEMENT

SURA ASSET MANAGEMENT MEXICO MAIN FIGURES USD 25,490 M 14.7 % 7.7M 3,186 (Ranking 3) 19.8 MILLION EL SALVADOR International OF CLIENTS COLOMBIA Investment grade: 47.5 % 1.7 M USD 5,155M 325 128.8 BILLIONS Fitch BBB+ % 29,706 M 36.7 6.2M 1,782 USD USD (Ranking 2) (Ranking 2) Moody’s Baa1 ASSET UNDER PERU MANAGEMENT 6 10.7 38.6 % 2.0M 18,539 M 688 USD (Ranking 1) BILLONES COUNTRIES CHILE Unidad Investment Management 19.2 % 1.8M USD 375.0 USD 42,296M 2,289 Market Share (AFP): (Ranking 4) 22.8% (Ranking 1) EBITDA MILLIONS URUGUAY USD 2,935 M 17.8 % 332k 145 8,568 (Ranking 2) EMPLOYEES 3 SURA ASSET MANAGEMENT Figures in million dollars, as of December 2018 Clients and AUM include Protección and Crecer, entities not consolidated by SURA AM

A COMPANY WITH SUPPORT OF THEIR SHAREHOLDERS While the largest shareholder is Grupo Sura, we have two others shareholders, who have minority interest: Grupo Bolívar and CDPQ SHAREHOLDERS 83.58% Grupo SURA 9.74% Grupo Bolívar 6.68% CDPQ 4 SURA ASSET MANAGEMENT

BACKED BY REPUTABLE SHAREHOLDERS Support from Strong and Sophisticated Shareholders Company Ownership Overview Financial Investments Industrial Investments Banking Insurance Pension Funds and AM Cement Producer Food Conglomerate 83.58% Ownership: (2) 46.4% 81.1% 83.6% 35.7% 35.7% • Presence in 6 countries • Presence in 10 countries • Presence in 6 countries • Presence in 17 countries • Plants and distribution in Latin America networks in 14 countries • Leading franchise in • Specialized in the • #1 in Pensions in Latam Colombia and Central insurance and risk • Majority owner of • Leader in the processed America management sectors Cementos Argos food industry in (cement), Celsia Colombia • #1 bank in Colombia and (electricity generation) 9th most important bank and Odinsa (road and in LatAm (by assets) airport concessions) Banking Insurance • Colombian investment group with significant experience in the financial sector Local / Regional 9.7% 6.7 % • Second largest pension fund in Canada, CDPQ managed assets of $308.3 billion invested in Canada and elsewhere. 5 SURA ASSET MANAGEMENT

EVOLUTION OF THE BUSINESS MODEL Adquisición de A stock brokerage firm, BlackRock Acquisition of 50% Constitution of a Stock Acquisition of “Agente de Valores Distribution BBVA AFP Brokerage “Sociedad 2018 Primero Seguros de SURA” was started up Agreement Horizonte in Perú Agente de Bolsa Vida SURA” 2017 Distribution of insurance Incorporation of Asset Incorporation policies through our Manager-AFISA SURA Corredora de International insurance brokerage Bolsa SURA 10-year USD 500MM firm (Corredora de CDPQ new bond offering. The 2016 Seguros Uruguay) shareholder notes priced at a yield Real Estate Fund Merger between of 4.930% and a Bond issue for Annuities business Proteccion and ING Launch coupon of 4,875%. The USD 350 million Relaunch Colombia order book was over 2015 subscribed 8.0x. Distribution Infrastructure Fund Begining of Sale of Distribution agreement with Acquisition of 63% lauch by USD 400 MM SURA AM annuities agreement with BlackRock Seguros SURA 2014 company in BlackRock (Formerly Invita) and Chile Hipotecaria Distribution agreement SURA with Franklin Acquisition of Templeton Sale of 2013 ING Latam insurance company Sura Peru and Mexico 2012 35 years of experience, with a unique knowledge in the asset management 2011 6 industry. SURA ASSET MANAGEMENT

WE PROVIDE A COMPREHENSIVE SAVINGS PRODUCT PORTFOLIO DESIGNED TO COVER ALL LIFE CYCLE NEEDS… ($) Wealth – + Life Cycle Mandatory Voluntary Life Insurance Mutual Funds Programmed Annuities Securities Pensions Savings and Savings Withdrawal ACCUMULATION PHASE DE-ACCUMULATION PHASE We support our customers on achieving their dreams and goals with our complete product offering designed to cover their needs throughout their life cycle 7 SURA ASSET MANAGEMENT 7

UNDISPUTED LEADER IN STABLE MANDATORY PENSION BUSINESS Over 2x Market Share of Next Competitor Economic Group Region 22.8% 19.2% 14.7% 38.6% 36.7% 17.8% 47.5% Ranking 1 st Ranking 4 th Ranking 3 rd Ranking 1 st Ranking 2 nd Ranking 2 nd Ranking 2 nd 9.3% 24.9% 0.0% 10.9% 28.0% 4.6% 9.3% 19.0% 6.8% 7.4% 22.4% 6.8% 42.9% 5.9% 17.9% 4.3% 25.5% 12.8% 4.8% 14.7% 516 192.7 170.0 45.5 81.6 15.5 10.9 Total AUM (USDBN) 6 11 4 4 4 2 Number of players Figures as of december 2018 8 SURA ASSET MANAGEMENT This information is removed from superintendency of each country, which includes only AFP´S AUM (Mandatory Pension, Voluntary Pension and Severance).

STRONG FINANCIAL PERFORMACE MAIN FIGURES ASSETS UNDER MANAGEMENT CLIENTS 128.8 134.9 19.6 15.2 118.2 15.9 17.3 18.8 18.7 108.4 17.0 12.4 1.9 16.7 1.0 100.6 1.1 11.6 0.9 1.7 15.7 0.7 9.9 86.8 0.7 8.1 74.9 5.4 119.1 112.9 105.2 17.8 17.7 17.6 96.8 17.4 17.2 90.6 17.0 16.4 78.7 69.5 2012 2013 2014 2015 2016 2017 2018 2012 2013 2014 2015 2016 2017 2018 VOLUNTARY MANDATORY MANDATORY VOLUNTARY CAGR 2012 – 2018: 9.9% CAGR 2012 – 2018: 4.0% MANDATORY 8.8% | WM-LI&A 20.6% MANDATORY 1.4% | WM-LI&A 20.1% Figures in billion dollars Figures in million dollars 9 (*) PROTECTION´S AND AFP CRECER AUM are included. while SURA Asset Management has no control over AFP PROTECTION (and therefore indirectly AFP CRECER),data from both companies are included only for information purposes, because SURA Asset Management has a significant equity stake in these. 9 SURA ASSET MANAGEMENT

STRATEGY OUR PURPOSE We accompany our clients to achieve their dreams STRATEGIC GUIDELINES CLIENT FOCUS » Our client in the center of our strategy » Core guidelines for the development of our businesses » Capacity development through transversal enabling strategy guidelines 10 SURA ASSET MANAGEMENT

EVOLUTION OF THE BUSINESS MODEL 2011 - 2012 2013 - 2016 2017 to the future SURA Asset Management SURA Asset Management SURA Asset Management Chile M exico Volunteer Business Perú (Funds, WM and Management Savings and Colombia Investment Mandatory Investment Mandatory Insurance) Business Business Business business Uruguay El Salvador 11 SURA ASSET MANAGEMENT

EVOLUTION OF THE BUSINESS MODEL INSTITUTIONAL CLIENT INDIVIDUAL CLIENT MANDATORY SAVINGS AND INVESTMENT INVESTMENT MANAGEMENT » Mandatory pension » Voluntary Pensions » Management of investment » Severance » Distribution of own Mutual portfolios (Mandates and Funds and open architecture Funds) » Unit linked » Creation of products and » Insurance distribution services » Sales and trading 12 SURA ASSET MANAGEMENT

STRONG GROWTH POTENTIAL GIVEN 1 FAVORABLE DEMOGRAPHICS Strong Share of Population in Savings and Accumulations Age Poised to Bolster AUM Age 2010 2050 Programmed 100+ Withdrawal 592MM Annuities 368MM 10% 25% 90 – 94 people over and people 80 – 84 20 over 20 Attractive 70 – 74 60 – 64 Demographics in a accumulati 51% on period 53% Savings 50 – 54 and Fast Growing 40 – 44 30 – 34 Market (1) 20 – 24 10 – 14 0 – 4 12 8 4 0 4 8 12 12 8 4 0 4 8 12 (%) (%) Men Women 81,5 Growing Life 65,4 Expectancy in LatAm (1) '80 – '85 '85 – '90 '90 – '95 '95 – '00 '00 – '05 '05 – '10 '10 – '15 '15 – '20 '20 – '25 '25 – '30 '30 – '35 '35 – '40 '40 – '45 '45 – '50 7.1% 7. 1% 5. 5.4% 4% 12.1% 12. 1% 14. 14.4% 4% 16.8% 16. 8% 7.1% 7. 1% 72.5 62.0 Growing (Million) Economically Active 26.3 24.6 Population 19.8 17.3 9.3 8.7 3.0 3.3 1.8 1.9 Colombia Chile El Salvador Perú México Uruguay 2018 2028 13 % Var SURA ASSET MANAGEMENT 13 Source: ECLAC and Economist Intelligence Unit. (1) Population distribution for Latin America as reported by ECLAC.

FINANCIAL SERVICES PENETRATION Low Penetration of Financial Services in LatAm Result in a Growing Opportunity in the Mandatory Pension and Savings Industries 2017 % GDP – PENSIONS Sep 2017 % GDP – MUTUAL FUNDS (1) Source: OECD Source: FIAFIN, World Bank. * 2016 Market penetration = AUM / GDP. Market penetration = AUM / GDP. 14 SURA ASSET MANAGEMENT 14 .

FINANCIAL PERFORMANCE AND COMERCIAL FIGURES Santiago de Chile