Bancolombia S.A. (the "Issuer") announced the early tender results of its previously announced offer to purchase for cash (the "Offer") up to U.S.D 370,000,000 of its outstanding 3.000% Senior Notes due 2025 (the "Notes"). The Offer is subject to the terms and conditions in the offer to purchase dated July 12, 2023 (the "Offer to Purchase"). The early tender deadline for the Offer occurred at 5:00 P.M., New York City time, on July 25, 2023 (the "Early Tender Date").

The Issuer also announced that it has increased the Maximum Tender Amount from U.S.D 370,000,000 to U.S.D 467,966,000 and intends to accept for purchase on the early settlement date for the Offer (the "Early Settlement Date"), which is expected to be August 1, 2023, all Notes validly tendered and not validly withdrawn prior to the Early Tender Date up to an amount of U.S.D 467,966,000. The tender offer was oversubscribed as of the Early Tender Date. Accordingly, the Issuer will not accept for purchase any Notes tendered after the Early Tender Date.

Holders that validly tendered prior to the Early Tender Date, and whose Notes are accepted for purchase, will be entitled to receive the total consideration set forth in the table above, which includes the early tender payment. In addition, holders whose Notes are purchased in the Offer will be entitled to receive accrued and unpaid interest in respect of their purchased Notes from the last interest payment date to, but not including, the Early Settlement Date. The withdrawal deadline for the Offer was 5:00 P.M., New York City time, on July 25, 2023, and so has passed.

Accordingly, Notes tendered (in the past or future) in the Offer may no longer be withdrawn, except as required by applicable law. Conditions to the Issuer's obligation to accept for purchase and to pay for the Notes validly tendered and not withdrawn are described in the Offer to Purchase. The Issuer may amend, extend, terminate or withdraw the Offer.