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CHAPTER 2 BOARD OF DIRECTORS

Grupo SURA´s Board of Directors of Grupo SURA is the Company’s administrative governing body appointed by the General Assembly of Shareholders. It is comprised of seven (7) principal members ("Directors"), of whom a minimum of four (4) shall enjoy an independent status. An independent member shall not be appointed to serve more than ten (10) continuous years. The Board of Directors has a deliberative and
professional nature as the guarantor of the rights of all shareholders.

Its functions, responsibilities and powers relate to the Parent Company's strategy, to its oversight of key issues to ensure the Company´s ongoing
development and sustainability, as well as the control of its business and governance issues. The Colombian Code of Commerce, the provisions of
the Company´s Articles of Association, the Board of Directors’ internal regulations and this Code of Good Governance constitute its framework for action.

Likewise, its subsidiaries have their own Boards of Directors or equivalent bodies, whose functions, responsibilities and powers relate to the strategy
of each entity, their oversight of key issues to ensure their individual Company´s development and sustainability, as well as the control of their
own business and governance issues.

CHAPTER 2 BOARD OF DIRECTORS

Grupo SURA´s Board of Directors of Grupo SURA is the Company’s administrative governing body appointed by the General Assembly of Shareholders. It is comprised of seven (7) principal members ("Directors"), of whom a minimum of three (3) shall enjoy an independent status. The Board of Directors has a deliberative and professional nature as the guarantor of the rights of all shareholders.

The Board may be appointed by a single ballot, when the number of independent members to be appointed, as mentioned above, is guaranteed; or otherwise in the form of separate ballots, one to elect the independent members and the other for the rest.

Its functions, responsibilities and powers relate to the Parent Company's strategy, to its oversight of key issues to ensure the Company´s ongoing development and sustainability, as well as the control of its business and governance issues. The Colombian Code of Commerce, the provisions of the Company´s bylaws, the Board of Directors’ internal regulations and this Code of Good Governance constitute its framework for action.

Likewise, its subsidiaries have their own Boards of Directors or equivalent bodies, whose functions, responsibilities and powers relate to the strategy of each entity, their oversight of key issues to ensure their individual Company´s development and sustainability, as well as the control of their own business and governance issues.