Companies of the Argos Business Group have repurchased more than COP 140,000 million in shares for the benefit of their shareholders

• As part of its commitment to transferring value to its shareholders, last year Grupo Argos and its companies launched share buyback programs with an aggregate amount of up to COP 1 trillion.
• Grupo Argos has repurchased more than 8 million shares for an amount exceeding COP 75,000 million, representing more than 15% execution of the buyback program approved by its Shareholders’ Meeting.
• Cementos Argos, through both the transactional mechanism and buyback offers under the independent mechanism, has repurchased more than 11 million shares for a value of COP 64,000 million, constituting more than half of its buyback program.
• In December of the previous year, Celsia launched its buyback program with the goal of acquiring a maximum of 9.9% of the outstanding shares. As of January 19, Grupo Argos’s energy company has repurchased 960,538 shares for a value of COP 2,972 million.

In line with its commitment to revealing value for its shareholders, in 2023, Grupo Argos launched a share buyback program for up to COP 500,000 over three years. During 2023, the company repurchased more than seven million ordinary and preferred shares, with an investment of COP 65,000 million and a weighted price of COP 9,600 for ordinary shares and COP 6,400 for preferred shares.

Likewise, both Cementos Argos and Celsia have received approval from their respective Shareholders’ Meetings to carry out share buybacks, which, when added to the Grupo Argos program, reach a total amount of up to COP 1 trillion. This buyback program reaffirms confidence in the business plan and the strategy being executed by Grupo Argos and all its companies.

Among the benefits of this mechanism is the reduction of the outstanding shares of the companies, which positively impacts financial indicators such as earnings per share and return on equity, without affecting financial robustness and their growth plan, while offering shareholders of Grupo Argos, Cementos Argos, and Celsia a liquidity alternative.

During 2023, Grupo Argos continued with the execution and materialization of strategic projects for its businesses, such as the signing of the asset combination agreement between Argos USA and Summit Materials, the start of operations of the Odinsa and Macquairie roads and airports platform, and Celsia’s foray into the Peruvian energy market. Coupled with the execution of the buyback program, these developments generated increased investor interest in the company’s shares and led to a 50% appreciation in the value of the ordinary shares and a 69% increase in the value of the company’s preferred shares compared to the minimum prices during the year.

Since the announcement of the merger between Argos USA and Summit Materials and the end of 2023, both the ordinary and preferred shares of Cementos Argos experienced growth of over 120%. As for Celsia, after reaching its lowest point in February, the shares closed on December 28 with an increase of more than 40%.