Operational and Services External Circular DFV-108, Subject 16: Agricultural Development Bonds

Document No: OT/PF/JUL/2026/146958
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Recipient: Banking Establishments, Financial Corporations, Commercial Financing Companies, Financial Cooperative Entities, Higher-Level Cooperative Organizations, Special Official Institutions – IOE (Second-Tier Banking), Fiduciary Companies, Pension and Severance Fund Management Companies, Insurance Entities, Stock Exchanges, Agricultural, Agro-industrial and other Commodities Exchanges, Stock Brokerage Firms, National Agricultural Exchange Brokerage Firms, Investment Management Companies, Securities Trading and Operations Registration System Management Companies, High-Value, Low-Value Payment System Management Entities and Securities, Foreign Exchange, Derivatives and other Financial Assets Clearing and Settlement Entities, Capitalization Companies, General Directorate of Public Credit and the National Treasury, Centralized Securities Depositories established in Colombia, Financial Superintendency of Colombia, Main Office and Branches of the Bank of the Republic. Subject 16: Agricultural Development Bonds This Operational and Services External Circular replaces page 16-3 of Operational and Services External Circular DFV-108 of December 9, 2025, corresponding to Subject 16: AGRICULTURAL DEVELOPMENT BONDS of the Fiduciary and Securities Department Manual. The aforementioned page is adjusted in order to modify the deadline for registering instructions for the reinvestment of Agricultural Development Bonds (TDA) in the Central Securities Depository - DCV prior to their maturity date. This circular is effective as of July 28, 2026. MARCELA OCAMPO DUQUE Executive Manager DIONISIO VALDIVIESO BURBANO Deputy Manager of Payment Systems and Banking Operations OPERATIONAL AND SERVICES EXTERNAL CIRCULAR DFV - 108 FIDUCIARY AND SECURITIES MANUAL Date: Tuesday, July 28, 2026

Document No: OT/PF/JUL/2026/146958
Page 16 - 1
OPERATIONAL AND SERVICES EXTERNAL CIRCULAR
DFV -108
Date: Tuesday, July 28, 2026
Subject 16: Agricultural Development Bonds

1. Background
   The Board of Directors of the Bank of the Republic (JDBR), in External Resolution 3 of 2000 and those that modify or replace it, hereinafter RE 3/2000, establishes the conditions and terms of the investments that credit institutions must make and maintain in Agricultural Development Bonds – TDA. In accordance with RE 3/2000, TDAs will have the following characteristics:

• They will be issued by FINAGRO.
• They may be Class A or B.
• They will have an amortization period of one (1) year.
• They will be issued to order and will be freely negotiable in the market.
• They will be fractional at the request and expense of the legitimate holder.
• They will have an expiration period of three (3) years.
• They may only be subscribed primarily by credit institutions obliged to make the investment.
• They will not be extendable, and no yield will accrue after their maturity date.
• The interest rate for Class A TDAs will be the nominal annual three-month IBR in effect on the first day of the corresponding quarter, reduced by three point seventy percentage points (IBR-3.70%). When the applicable IBR is equal to or less than 3.70%, no yields will be recognized on Class A TDAs.
• The interest rate for Class B TDAs will be the nominal annual three-month IBR in effect on the first day of the corresponding quarter, reduced by one point seventy-six percentage points (IBR-1.76%). When the applicable IBR is equal to or less than 1.76%, no yields will be recognized on Class B TDAs.
  The IBR in effect on a banking business day will be the IBR generated and published on the previous banking business day. The IBR in effect on a non-banking business day will be the IBR in effect on the previous banking business day.
• Yields will be payable quarterly in arrears on their nominal value.
  The calculation of yields for IBR-indexed TDAs will use the Actual/360 calculation basis.
  The conditions for calculating TDA interest can be consulted in the DCV Operating Manual, available on the BR website, www.banrep.gov.co.

Document No: OT/PF/JUL/2026/146958
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OPERATIONAL AND SERVICES EXTERNAL CIRCULAR
DFV -108
Date: Tuesday, July 28, 2026
Subject 16: Agricultural Development Bonds
2. Issuance of the bonds
Obligated entities must make the investment in Class A or Class B TDAs in the Central Securities Depository - DCV of the Bank of the Republic (BR).
The bonds will be issued in uncertificated form, charged to the deposit account in the BR of the entity making the TDA constitution. In accordance with instructions issued by FINAGRO, the bonds will be issued in multiples of one cent ($0.01). Investments in Class A or Class B TDAs may only be made directly in the DCV by obligated credit institutions or through another financial entity, from the start of DCV operations until one o'clock in the afternoon (1:00 p.m.). After the deadline, no TDA investment operation can be settled in the DCV. Entities may at no time present investment defects or excesses, as these are mandatory and not voluntary investments.
3. Payment of Capital and Interest
Provided that FINAGRO places the corresponding resources on the due date for TDA yields or principal, the DCV will make the payment by crediting the respective beneficiary's deposit account in the BR.
If the due date for interest or capital payment coincides with a non-banking business day, payment will be made on the immediately following banking business day. No interest will be recognized for the days elapsed between the due date for interest or capital payment and the date on which payment is made.
4. Reinvestment of the bonds
Credit institutions may register instructions in the system for the reinvestment of the bonds, which may include changes in the bond class (Class A or Class B) and in the amount.
In the event that no instructions related to reinvestment are registered, the DCV will proceed to automatically reinvest in IBR-indexed TDAs, maintaining the other financial conditions of the maturing bond.
For their part, credit institutions that register instructions not to carry out the reinvestment (total or partial), the DCV will proceed to return the value of the investment (capital and interest) that is not subject to reinvestment, in accordance with the provisions of numeral 3 of this Circular. The registration of reinvestment instructions will be carried out in accordance with the deadlines defined in the DCV Operating Manual. Reinvestment will be made up to the value of the primary constitution, and the DCV system will credit any accrued interest to the beneficiary's deposit account, once FINAGRO places the corresponding resources. In all cases, the new bond will begin its validity on the maturity date of the previous bond.
5. Repurchase of the Bonds
FINAGRO may acquire TDAs before their maturity in the cases provided for in RE 3/2000. For this purpose, the credit institution must register the respective repurchase request in the DCV system, and FINAGRO must register its authorization in the said system. Repurchase requests for bonds may be made from the start of DCV system operations until twelve fifty (12:50) in the afternoon. Repurchase of bonds may be requested up to one business day before their maturity and will become effective on the same day of the request. The DCV system will proceed to return the value of the investment (capital and interest), in accordance with the provisions of numeral 3 of this Circular. It will be the responsibility of FINAGRO and the entity requesting the repurchase to determine the issues and values to be canceled, as well as the location of the necessary resources for cancellation and the verification of the settlement of the operation in the DCV system.
6. Withholding Tax
The financial yields generated by Class A and Class B TDAs will be subject to withholding tax, in accordance with current legal provisions.
7. Additional Information
To contact the Fiduciary and Securities Department - DFV, consult the contact number via the Bank of the Republic telephone service link on the BR corporate portal or through the corporate mailbox ServicioalClienteDFV@banrep.gov.co.

Document No: OT/PF/JUL/2026/146958
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OPERATIONAL AND SERVICES EXTERNAL CIRCULAR
DFV -108
Date: Tuesday, July 28, 2026
Subject 16: Agricultural Development Bonds
In the event of system or telephone service contingencies, consult the respective contact number on the BR website via the Bank of the Republic contingency points of contact link.
8. Characteristics of DTF-indexed TDAs in effect during 2026
Class A and Class B TDAs indexed to the DTF in effect during 2026 will have the characteristics established in numeral 1 of this circular.
Regarding the applicable interest rate, it will adhere to the provisions of Article 3 of External Resolution No. 4 of 2025 of the Board of Directors of the Bank of the Republic, as follows:

• The interest rate for Class A TDAs will be:
  The effective annual DTF in effect in the week of the start of the corresponding quarter, reduced by four percentage points (DTF-4%). When the applicable DTF is equal to or less than 4%, no yields will be recognized on Class A TDAs.
• The interest rate for Class B TDAs will be:
  The effective annual DTF in effect in the week of the start of the corresponding quarter, reduced by two percentage points (DTF-2%). When the applicable DTF is equal to or less than 2%, no yields will be recognized on Class B TDAs. The calculation basis for interest liquidation will use the 360/360 convention. For automatic reinvestments, when DTF-indexed TDAs and IBR-indexed TDAs coincide at maturity in the same securities account, the reinvestment, if applicable, will be made into a single IBR-indexed TDA, consolidating the corresponding balances. (AVAILABLE SPACE)