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<div class="destacadoazul" dir="ltr">To request the Tax Certificate corresponding to your shareholding in PROTECCIÓN
    S.A., please contact our Shareholder Service Center located at Carrera 48 # 26-85. Torre Sur, Mezanine, in Medellín,
    or phones +57 (4) 444 72 31, or toll free 01 8000 954 242 for the rest of the country, or by e-mail
    caa@bancolombia.com.co. The response time for requests is one to two business days.</div>
 
<p dir="ltr">&nbsp;</p>
 
<div dir="ltr" id="accordion">
    <h3>Administradora de Fondos de Pensiones y Cesantías Protección S.A.: Information reported for 2020</h3>
 
    <div>
        <p>There is no content available for this page at this time.</p>
    </div>
 
    <h3>Administradora de Fondos de Pensiones y Cesantías Protección S.A.: Information reported for 2015</h3>
 
    <div>
        <table border="0" cellpadding="0" cellspacing="0" dir="ltr" name="1" style="width: 400px;">
            <tbody>
                <tr>
                    <td>Published on</td>
                    <td>Time</td>
                    <td>Topic</td>
                    <td style="width: 156px;">Summary</td>
                    <td style="width: 34px;">Appendix</td>
                </tr>
                <tr>
                    <td>9/9/2015</td>
                    <td>17:40:16</td>
                    <td>Entities' ratings supervised by the Financial Superintendence of Colombia</td>
                    <td style="width: 156px;">Fitch confirmed the rating for Protección's Short-term Severance Pay Fund
                        at 1/AAA (Col) based on its periodic review.</td>
                    <td style="width: 34px;"><a
                            href="/wps/wcm/myconnect/proteccion/cb443944-2211-4ddf-b621-31dafc389669/corto-plazo.pdf?MOD=AJPERES&amp;useDefaultText=0&amp;useDefaultDesc=0"
                            target="_blank" title="">See attachment</a></td>
                </tr>
                <tr>
                    <td>9/9/2015</td>
                    <td>17:35:51</td>
                    <td>Entities' ratings supervised by the Financial Superintendence of Colombia.</td>
                    <td style="width: 156px;">Fitch confirmed the rating for Protección's Long-term Severance Pay Fund
                        at NR/AAA (Col) based on its periodic review.</td>
                    <td style="width: 34px;"><a
                            href="/wps/wcm/myconnect/proteccion/70a5d905-1718-4252-a3c7-4eecee98c52c/largo-plazo.pdf?MOD=AJPERES&amp;useDefaultText=0&amp;useDefaultDesc=0"
                            target="_blank" title="">See attachment</a></td>
                </tr>
                <tr>
                    <td>9/8/2015</td>
                    <td>17:15:00</td>
                    <td>Entities' ratings supervised by the Financial Superintendence of Colombia.</td>
                    <td style="width: 156px;">Fitch provided access to the document published on June 12 by mistake in
                        the name of the Protección mandatory pension funds.</td>
                    <td style="width: 34px;"><a
                            href="/wps/wcm/myconnect/proteccion/79282d1b-8cd4-4618-a93b-44fc8e0c2a59/calificaciones-entidades-vigiladas-por-la-superfinanciera.pdf?MOD=AJPERES&amp;useDefaultText=0&amp;useDefaultDesc=0"
                            target="_blank" title="">See attachment</a></td>
                </tr>
                <tr>
                    <td>4/15/2015</td>
                    <td>15:51:44</td>
                    <td>Corporate Governance Code</td>
                    <td style="width: 156px;">Protección S.A. hereby informs the completion and transmission of the
                        Código País survey corresponding to the year 2014.</td>
                    <td style="width: 34px;"><a
                            href="/wps/wcm/myconnect/proteccion/04468e39-bd94-4176-ad44-6f4819816e6b/55-15-04-2015.pdf?MOD=AJPERES&amp;useDefaultText=0&amp;useDefaultDesc=0"
                            target="_blank" title="">See attachment</a></td>
                </tr>
                <tr>
                    <td>4/14/2015</td>
                    <td>16:56:21</td>
                    <td>Year-end Reports</td>
                    <td style="width: 156px;">We are attaching the Year-end Reports for 2014 of Protección S.A. in
                        compliance with External Bulletin 004 / 2012</td>
                    <td style="width: 34px;"><a
                            href="/wps/wcm/myconnect/proteccion/79300e9e-fc0f-400b-a25e-23f3456541d9/54-14-04-2015.pdf?MOD=AJPERES&amp;useDefaultText=0&amp;useDefaultDesc=0"
                            target="_blank" title="">See attachment</a></td>
                </tr>
                <tr>
                    <td>3/19/2015</td>
                    <td>12:20:46</td>
                    <td>Bylaw Reform</td>
                    <td style="width: 156px;">The General Shareholders' Meeting of PROTECCION S.A. approved the bylaw
                        reform in the session held today in order to address the new guidelines of Código País. In
                        addition, it approved a proposal for the compilation of the Bylaws.</td>
                    <td style="width: 34px;"><a
                            href="/wps/wcm/myconnect/proteccion/eb7d1fc7-1eae-4f67-b102-a61e89d9840c/51-reforma-estatutos.pdf?MOD=AJPERES&amp;useDefaultText=0&amp;useDefaultDesc=0"
                            target="_blank" title="">See attachment</a></td>
                </tr>
                <tr>
                    <td>3/19/2015</td>
                    <td>12:18:00</td>
                    <td>Notices published by the Company</td>
                    <td style="width: 156px;">In the session held on March 19, 2015, the General Shareholders' Meeting
                        of PROTECCION S.A. approved the appointment of the firm KPMG as the Statutory Auditor of
                        Protección S.A. and the managed funds.</td>
                    <td style="width: 34px;">N/A</td>
                </tr>
                <tr>
                    <td>3/19/2015</td>
                    <td>12:16:25</td>
                    <td>Notices published by the Company</td>
                    <td style="width: 156px;">In the session held on March 19, 2015, the General Shareholders' Meeting
                        of PROTECCION S.A. approved the individual and consolidated financial statements corresponding
                        to the 2014 period and the Management Report of the Administrators.</td>
                    <td style="width: 34px;">N/A</td>
                </tr>
                <tr>
                    <td>3/19/2015</td>
                    <td>12:15:58</td>
                    <td>Profit or Loss Project approved by the Shareholders' Meeting</td>
                    <td style="width: 156px;">In the session held on March 19, 2015, the General Shareholders' Meeting
                        of PROTECCION S.A. approved the distribution of profit as at December 31, 2014. The report is on
                        the ex-dividend period.</td>
                    <td style="width: 34px;"><a
                            href="/wps/wcm/myconnect/proteccion/87fb3965-a999-4d4a-94e9-3f2f3aee1e02/52-proyecto-utilidad-perdida.pdf?MOD=AJPERES&amp;useDefaultText=0&amp;useDefaultDesc=0"
                            target="_blank" title="">See attachment</a></td>
                </tr>
                <tr>
                    <td>3/19/2015</td>
                    <td>12:14:33</td>
                    <td>Notices published by the Company</td>
                    <td style="width: 156px;">In the session held on March 19, 2015, the General Shareholders' Meeting
                        of PROTECCION S.A. approved the election of the members of the Board of Directors that it is
                        responsible for appointing.</td>
                    <td style="width: 34px;"><a
                            href="/wps/wcm/myconnect/proteccion/fb6244cb-2d08-454e-b447-ff117df8cb98/53-avisos-publicados.pdf?MOD=AJPERES&amp;useDefaultText=0&amp;useDefaultDesc=0"
                            target="_blank" title="">See attachment</a></td>
                </tr>
                <tr>
                    <td>1/29/2015</td>
                    <td>17:40:13</td>
                    <td>Board Decisions</td>
                    <td style="width: 156px;">In a meeting held on January 29, 2015, the Board of Directors of
                        PROTECCION S.A. approved the announcement to call for the Ordinary General Shareholders' Meeting
                        for March 19, 2015 at 8:30 a.m. at the Company's place of business.</td>
                    <td style="width: 34px;">N/A</td>
                </tr>
                <tr>
                    <td>2/17/2015</td>
                    <td>10:34:25</td>
                    <td>Call for Meeting&nbsp;</td>
                    <td style="width: 156px;">Call for Ordinary Shareholders' Meeting Protección S.A.</td>
                    <td style="width: 34px;"><a
                            href="/wps/wcm/myconnect/proteccion/6ef3cf58-162a-4c73-9b0a-8916abe7bdeb/convocatoria.pdf?MOD=AJPERES&amp;useDefaultText=0&amp;useDefaultDesc=0"
                            target="_blank" title="">See attachment</a></td>
                </tr>
                <tr>
                    <td>2/12/2015</td>
                    <td>08:11:07</td>
                    <td>Meeting 2015</td>
                    <td style="width: 156px;">Mandatory Pension and Voluntary Pension Meeting</td>
                    <td style="width: 34px;"><a
                            href="/wps/wcm/myconnect/proteccion/6fe875b9-f14d-427f-8ed6-a38dd6f830ab/proteccion-2X10-6-febrero-2015-V2.pdf?MOD=AJPERES&amp;useDefaultText=0&amp;useDefaultDesc=0"
                            target="_blank" title="">See attachment</a></td>
                </tr>
                <tr>
                    <td>1/09/2015</td>
                    <td>18:25:25</td>
                    <td>Profit or Loss Project to be presented at the Meeting</td>
                    <td style="width: 156px;">In the meeting held today, the Board of Directors of PROTECCIÓN S.A.
                        approved the distribution of profit project to be presented for consideration by the
                        Shareholders' Meeting.</td>
                    <td style="width: 34px;"><a
                            href="/wps/wcm/myconnect/proteccion/b85e680d-ac86-4b17-a91d-86e6a32d0fbb/posicion-sobre-distribuidores.pdf?MOD=AJPERES&amp;useDefaultText=0&amp;useDefaultDesc=0"
                            target="_blank" title="">See&nbsp;attachment</a></td>
                </tr>
                <tr>
                    <td>1/29/2015</td>
                    <td>17:38:41</td>
                    <td>Shareholder Representation (Res. 116 Feb.27/2002)</td>
                    <td style="width: 156px;">The letter addressed to the Financial Superintendence, in compliance with
                        the provisions set forth in External Bulletin 024 / 2010, is attached hereto.</td>
                    <td style="width: 34px;"><a
                            href="/wps/wcm/myconnect/proteccion/f467dabc-5f9c-41d7-a594-66d278036f66/carta.pdf?MOD=AJPERES&amp;useDefaultText=0&amp;useDefaultDesc=0"
                            target="_blank" title="">See&nbsp;attachment</a></td>
                </tr>
            </tbody>
        </table>
    </div>
 
    <h3>Administradora de Fondos de Pensiones y Cesantías Protección S.A.: Information reported for 2014</h3>
 
    <div>
        <table border="0" cellpadding="0" cellspacing="0" dir="ltr" name="1" style="width: 400px;">
            <tbody>
                <tr>
                    <td>Published on</td>
                    <td>Time</td>
                    <td>Topic</td>
                    <td>Summary</td>
                    <td>Appendix</td>
                </tr>
                <tr>
                    <td>1/29/2015</td>
                    <td>17:40:13</td>
                    <td>Board Decisions</td>
                    <td>In a meeting held on January 29, 2015, the Board of Directors of PROTECCION S.A. approved the
                        announcement to call for the Ordinary General Shareholders' Meeting for March 19, 2015 at 8:30
                        a.m. at the Company's place of business.</td>
                    <td>N/A</td>
                </tr>
                <tr>
                    <td>2/17/2015</td>
                    <td>10:34:25</td>
                    <td>Call for Meeting&nbsp;</td>
                    <td>Call for Ordinary Shareholders' Meeting Protección S.A.</td>
                    <td><a href="/wps/wcm/myconnect/proteccion/6ef3cf58-162a-4c73-9b0a-8916abe7bdeb/convocatoria.pdf?MOD=AJPERES&amp;useDefaultText=0&amp;useDefaultDesc=0"
                            target="_blank" title="">See&nbsp;attachment</a></td>
                </tr>
                <tr>
                    <td>2/12/2015</td>
                    <td>08:11:07</td>
                    <td>Meeting 2015</td>
                    <td>Mandatory Pension and Voluntary Pension Meeting.</td>
                    <td><a href="/wps/wcm/myconnect/proteccion/6fe875b9-f14d-427f-8ed6-a38dd6f830ab/proteccion-2X10-6-febrero-2015-V2.pdf?MOD=AJPERES&amp;useDefaultText=0&amp;useDefaultDesc=0"
                            target="_blank" title="">See&nbsp;attachment</a></td>
                </tr>
                <tr>
                    <td>1/9/2015</td>
                    <td>18:25:25</td>
                    <td>Profit or Loss Project to be presented at the Meeting</td>
                    <td>In the meeting held today, the Board of Directors of PROTECCIÓN S.A. approved the distribution
                        of profit project to be presented for consideration by the Shareholders' Meeting.</td>
                    <td><a href="/wps/wcm/myconnect/proteccion/b85e680d-ac86-4b17-a91d-86e6a32d0fbb/posicion-sobre-distribuidores.pdf?MOD=AJPERES&amp;useDefaultText=0&amp;useDefaultDesc=0"
                            target="_blank" title="">See&nbsp;attachment</a></td>
                </tr>
                <tr>
                    <td>1/29/2015</td>
                    <td>17:38:41</td>
                    <td>Shareholder Representation (Res. 116 Feb.27/2002)</td>
                    <td>The letter addressed to the Financial Superintendence, in compliance with the provisions set
                        forth in External Bulletin 024 / 2010, is attached hereto.</td>
                    <td><a href="/wps/wcm/myconnect/proteccion/f467dabc-5f9c-41d7-a594-66d278036f66/carta.pdf?MOD=AJPERES&amp;useDefaultText=0&amp;useDefaultDesc=0"
                            target="_blank" title="">See&nbsp;attachment</a></td>
                </tr>
                <tr>
                    <td>12/23/2014</td>
                    <td>13:54:07</td>
                    <td>Change in the issuer's shareholding structure</td>
                    <td>A change in the issuer's shareholding structure of more than 5% was announced</td>
                    <td><a href="/wps/wcm/myconnect/proteccion/b18c0841-12e8-49a2-93a4-f5553c4fb61a/23-12-2014.pdf?MOD=AJPERES&amp;useDefaultText=0&amp;useDefaultDesc=0"
                            target="_blank" title="">See&nbsp;attachment</a></td>
                </tr>
                <tr>
                    <td>12/18/2014</td>
                    <td>17:23:02</td>
                    <td>Change in the issuer's shareholding structure</td>
                    <td>A change in the issuer's shareholding structure of more than 5% was announced</td>
                    <td><a href="/wps/wcm/myconnect/proteccion/cd747228-76ae-4473-bd3f-0bfcd49d8bea/18-12-2014.pdf?MOD=AJPERES&amp;useDefaultText=0&amp;useDefaultDesc=0"
                            target="_blank" title="">See&nbsp;attachment</a></td>
                </tr>
                <tr>
                    <td>07/31/2014</td>
                    <td>16:50:43</td>
                    <td>Change in Legal Representatives</td>
                    <td>The resignation of a legal representative of Protección S.A. was reported.</td>
                    <td><a href="/wps/wcm/myconnect/proteccion/dab65425-268a-4844-8cc8-1d775383473b/Renuncia_Representante_Legal_Ana_Lucia_y_nombramiento_reemplazo.pdf?MOD=AJPERES&amp;useDefaultText=0&amp;useDefaultDesc=0"
                            target="_blank" title="">See&nbsp;attachment</a></td>
                </tr>
                <tr>
                    <td>05/22/2014</td>
                    <td>16:42:56</td>
                    <td>Change in Board of Directors</td>
                    <td>Protección S.A. announced changes in the Board of Directors to raise the Company's corporate
                        governance standards.</td>
                    <td><a href="/wps/wcm/myconnect/proteccion/6e0eefd5-5d68-4d08-9338-72d5acc39b09/Eleccion_Junta_Directiva_Mayo_2014_%28ABO%29.pdf?MOD=AJPERES&amp;useDefaultText=0&amp;useDefaultDesc=0"
                            target="_blank" title="">See&nbsp;attachment</a></td>
                </tr>
                <tr>
                    <td>05/14/2014</td>
                    <td>09:02:26</td>
                    <td>Fines and penalties imposed by government entities</td>
                    <td>The Superintendence of Industry and Commerce imposed a fine of COP&nbsp;21,560,000 on Protección
                        for, in its opinion, failing to fulfill the duties of items j) and m) of Law 1581 / 2012,
                        Article 17. The relevant appeals will be filed against the decision.</td>
                    <td><a href="/wps/wcm/myconnect/proteccion/6497e763-0358-4611-82a5-a371dfad5b54/Informaci%C3%B3n_relevante_sanci%C3%B3n_SIC_2014.pdf?MOD=AJPERES&amp;useDefaultText=0&amp;useDefaultDesc=0"
                            target="_blank" title="">See&nbsp;attachment</a></td>
                </tr>
                <tr>
                    <td>05/08/2014</td>
                    <td>16:21:00</td>
                    <td>Notices published by the Company</td>
                    <td>Protección S.A. reported the resignation of two (2) of the members of the Board of Directors
                    </td>
                    <td><a href="/wps/wcm/myconnect/proteccion/fff9fac0-ebba-4f63-aacf-5e008ca70ed6/Renuncia_Juan_F_Uribe_y_Pablo_Sprenger.pdf?MOD=AJPERES&amp;useDefaultText=0&amp;useDefaultDesc=0"
                            target="_blank" title="">See&nbsp;attachment</a></td>
                </tr>
                <tr>
                    <td>05/09/2014</td>
                    <td>09:24:35</td>
                    <td>Notices published by the Company</td>
                    <td>Call for an extraordinary Shareholders' Meeting published today on page 8 of El Espectador
                        newspaper</td>
                    <td><a href="/wps/wcm/myconnect/proteccion/80cd7da5-f896-429c-91b6-15ecea61d226/Junta_Directiva_asamblea_2014.pdf?MOD=AJPERES&amp;useDefaultText=0&amp;useDefaultDesc=0"
                            target="_blank" title="">See&nbsp;attachment</a></td>
                </tr>
                <tr>
                    <td>05/09/2014</td>
                    <td>09:28:41</td>
                    <td>Notices published by the Company</td>
                    <td>Protección S.A. informs the measures to ensure the effective participation and fair treatment of
                        shareholders at the Shareholders' Meeting to be held on May 22, 2014</td>
                    <td><a href="/wps/wcm/myconnect/proteccion/77ebc752-7844-4cb9-8c16-697ba538d5fd/Representaci%C3%B3n_de_Accionistas_Mayo_2014.pdf?MOD=AJPERES&amp;useDefaultText=0&amp;useDefaultDesc=0"
                            target="_blank" title="">See&nbsp;attachment</a></td>
                </tr>
                <tr>
                    <td>02/17/2014</td>
                    <td>21:14:09</td>
                    <td>Call for Ordinary Meeting</td>
                    <td>Call for Ordinary General Shareholders' Meeting published in El Espectador newspaper.</td>
                    <td><a href="/wps/wcm/myconnect/proteccion/7b015b21-0063-4ec8-9c61-83de5a701659/convocatoria_asamblea_nacional_de_accionistas.pdf?MOD=AJPERES&amp;useDefaultText=0&amp;useDefaultDesc=0"
                            target="_blank" title="">See&nbsp;attachment</a></td>
                </tr>
                <tr>
                    <td>01/30/2014</td>
                    <td>16:59:02</td>
                    <td>Shareholder Representation (Res.116 / Feb. 27/2002)</td>
                    <td>In the meeting held today, the Board of Directors of PROTECCION S.A. approved the measures to
                        ensure compliance with Bulletin 024 / 2010 and the fair treatment of shareholders.</td>
                    <td><a href="/wps/wcm/myconnect/proteccion/c3e35c84-94bd-4314-9da5-a6cc85e80240/descarga+%281%29.doc?MOD=AJPERES&amp;useDefaultText=0&amp;useDefaultDesc=0"
                            target="" title="">See&nbsp;attachment</a></td>
                </tr>
                <tr>
                    <td>01/30/2014</td>
                    <td>16:57:32</td>
                    <td>Profit or Loss Project to be presented at the Meeting</td>
                    <td>In the meeting held today, the Board of Directors of PROTECCIÓN S.A. approved the distribution
                        of profit project to be presented for consideration by the Shareholders' Meeting.</td>
                    <td><a href="/wps/wcm/myconnect/proteccion/667eb0a5-9f76-4423-b475-92e2b681d064/Proyecto_Utilidad_o_Perdida_a_presentar_a_Asamblea.pdf?MOD=AJPERES&amp;useDefaultText=0&amp;useDefaultDesc=0"
                            target="_blank" title="">See&nbsp;attachment</a></td>
                </tr>
                <tr>
                    <td>01/30/2014</td>
                    <td>16:56:16</td>
                    <td>Board Decisions</td>
                    <td>In a meeting held on Thursday, January 30, 2014, the Board of Directors of PROTECCION S.A.
                        approved the announcement to call for the Ordinary General Shareholders' Meeting for Thursday,
                        March 13, 2014 at 8:30 a.m.</td>
                    <td>N/A</td>
                </tr>
                <tr>
                    <td>01/27/2014</td>
                    <td>17:36:56</td>
                    <td>Ratings entities supervised by the Financial Superintendence of Colombia</td>
                    <td>Fitch Ratings published the rating report of Sociedad Administradora de Fondos de Pensiones y
                        Cesantías Protección S.A. as the Administrator of Investment Assets on the occasion of its
                        periodic review.</td>
                    <td><a href="/wps/wcm/myconnect/proteccion/b2bbab0b-07b3-4ab7-b274-e4cad315b6df/informacion_elevante.pdf?MOD=AJPERES&amp;useDefaultText=0&amp;useDefaultDesc=0"
                            target="_blank" title="">See&nbsp;attachment</a></td>
                </tr>
                <tr>
                    <td>12/24/2013</td>
                    <td>07:30:30</td>
                    <td>Change in the issuer's shareholding structure</td>
                    <td>A change in the shareholding structure of Protección S.A. of more than 5% was announced</td>
                    <td><a href="/wps/wcm/myconnect/proteccion/3565de56-a657-4845-810b-2d88a3b4fdf1/descarga.pdf?MOD=AJPERES&amp;useDefaultText=0&amp;useDefaultDesc=0"
                            target="_blank" title="">See&nbsp;attachment</a></td>
                </tr>
            </tbody>
        </table>
    </div>
 
    <h3>Administradora de Fondos de Pensiones y Cesantías Protección S.A.: Information reported for 2013</h3>
 
    <div>
        <table border="0" cellpadding="0" cellspacing="0" dir="ltr" name="1" style="width: 400px;">
            <tbody>
                <tr>
                    <td align="center" colspan="5" valign="middle">Administradora de Fondos de Pensiones y Cesantías
                        Protección S.A.: Information reported from 01/11/2013 to 04/05/2013</td>
                </tr>
                <tr>
                    <td align="center" valign="middle"><strong>Date</strong></td>
                    <td align="center" valign="middle"><strong>Time</strong></td>
                    <td align="center" valign="middle"><strong>Topic</strong></td>
                    <td align="center" valign="middle"><strong>Summary</strong></td>
                    <td align="center" valign="middle"><strong>Appendix</strong></td>
                </tr>
                <tr>
                    <td align="center" valign="middle">4/5/2013</td>
                    <td align="center" valign="middle">18:01:10</td>
                    <td align="center" valign="middle">Year-end Reports</td>
                    <td align="center" valign="middle">The Certifications of the legal representative and public
                        accountant have been attached herein in the terms of Article 37 of Law 222/95 and Article 46 of
                        Law 964/2005 in compliance with Bulletin 004/2012</td>
                    <td align="center" valign="middle"><a
                            href="/wps/wcm/myconnect/proteccion/95e804cc-1233-4523-8a4f-b617796b0899/1.+certificacionRepresentante.pdf?MOD=AJPERES&amp;useDefaultText=0&amp;useDefaultDesc=0"
                            target="_blank" title="">See&nbsp;attachment</a></td>
                </tr>
                <tr>
                    <td align="center" valign="middle">4/5/2013</td>
                    <td align="center" valign="middle">17:58:14</td>
                    <td align="center" valign="middle">Year-end Reports</td>
                    <td align="center" valign="middle">The year-end Financial Statements are attached hereto, along with
                        their notes and the opinion of the Statutory Auditor in compliance with Bulletin 004 / 2012.
                    </td>
                    <td align="center" valign="middle"><a
                            href="/wps/wcm/myconnect/proteccion/5bc85c26-3474-40dd-8b82-aa58cf7acf0a/2.+EstadosFinancieros.pdf?MOD=AJPERES&amp;useDefaultText=0&amp;useDefaultDesc=0"
                            target="_blank" title="">See&nbsp;attachment</a></td>
                </tr>
                <tr>
                    <td align="center" valign="middle">04/04/2013</td>
                    <td align="center" valign="middle">17:25:52</td>
                    <td align="center" valign="middle">Notices published by the Company</td>
                    <td align="center" valign="middle">Compliance with the ex-dividend period was reported.</td>
                    <td align="center" valign="middle"><a
                            href="/wps/wcm/myconnect/proteccion/eb7e7c99-d210-443a-bcbc-9c6b21df9b99/3.+periodo_ex_dividendo.pdf?MOD=AJPERES&amp;useDefaultText=0&amp;useDefaultDesc=0"
                            target="_blank" title="">See&nbsp;attachment</a></td>
                </tr>
                <tr>
                    <td align="center" valign="middle">04/04/2013</td>
                    <td align="center" valign="middle">17:25:52</td>
                    <td align="center" valign="middle">Change in Board of Directors</td>
                    <td align="center" valign="middle">In the meeting held on March 14, 2013, the General Shareholders'
                        Meeting of PROTECCIÓN S.A. elected the Board of Directors for the 2013 - 2015 statutory period.
                    </td>
                    <td align="center" valign="middle"><a
                            href="/wps/wcm/myconnect/proteccion/be7b6117-fdca-4e42-88c0-aef9557f1755/4.+JuntaDirectiva.pdf?MOD=AJPERES&amp;useDefaultText=0&amp;useDefaultDesc=0"
                            target="_blank" title="">See&nbsp;attachment</a></td>
                </tr>
                <tr>
                    <td align="center" valign="middle">3/15/2013</td>
                    <td align="center" valign="middle">09:46:48</td>
                    <td align="center" valign="middle">Change in Board of Directors</td>
                    <td align="center" valign="middle">In the meeting held on March 14, 2013, the General Shareholders'
                        Meeting of PROTECCIÓN S.A. elected the Board of Directors for the 2013 - 2015 statutory period.
                    </td>
                    <td align="center" valign="middle"><a
                            href="/wps/wcm/myconnect/proteccion/f8a3ef78-00cc-4cc4-b4b8-a86d52ccbc9d/5.+JuntaDirectiva.pdf?MOD=AJPERES&amp;useDefaultText=0&amp;useDefaultDesc=0"
                            target="_blank" title="">See&nbsp;attachment</a></td>
                </tr>
                <tr>
                    <td align="center" valign="middle">3/15/2013</td>
                    <td align="center" valign="middle">09:45:07</td>
                    <td align="center" valign="middle">Profit or Loss Project approved by the Shareholders' Meeting</td>
                    <td align="center" valign="middle">In the session held on March 14, 2013, the General Shareholders'
                        Meeting of PROTECCION S.A. approved the project for the distribution of accumulated profit as at
                        December 31, 2012.</td>
                    <td align="center" valign="middle"><a
                            href="/wps/wcm/myconnect/proteccion/c8218740-8288-4f6d-ac0d-0c2b62183ec8/6.+proposicionUtilidades.pdf?MOD=AJPERES&amp;useDefaultText=0&amp;useDefaultDesc=0"
                            target="_blank" title="">See&nbsp;attachment</a></td>
                </tr>
                <tr>
                    <td align="center" valign="middle">3/15/2013</td>
                    <td align="center" valign="middle">09:43:26</td>
                    <td align="center" valign="middle">Notices published by the Company</td>
                    <td align="center" valign="middle">In the session held on March 14, 2013, the General Shareholders'
                        Meeting of PROTECCION S.A. approved the individual and consolidated financial statements
                        corresponding to the 2012 period and the management report of the administrators.</td>
                    <td align="center" valign="middle">N/A</td>
                </tr>
                <tr>
                    <td align="center" valign="middle">3/6/2013</td>
                    <td align="center" valign="middle">17:58:20</td>
                    <td align="center" valign="middle">Issuer control situations</td>
                    <td align="center" valign="middle">The Grupo de Inversiones Suramericana registered the change in
                        the situation of control over Protección S.A. at the Medellín Chamber of Commerce, excluding it
                        as a controlled company because it is no longer a subordinated company (Article 261 (1) of the
                        C.Co)</td>
                    <td align="center" valign="middle">N/A</td>
                </tr>
                <tr>
                    <td align="center" valign="middle">3/4/2013</td>
                    <td align="center" valign="middle">18:31:56</td>
                    <td align="center" valign="middle">Change in the issuer's shareholding structure</td>
                    <td align="center" valign="middle">A change was reported in the shareholding structure of Protección
                        S.A. greater than 5% as a result of the acquisition of 7.53% of the company's shares by
                        Cornerstone L.P.</td>
                    <td align="center" valign="middle">N/A</td>
                </tr>
                <tr>
                    <td align="center" valign="middle">2/21/2013</td>
                    <td align="center" valign="middle">17:12:22</td>
                    <td align="center" valign="middle">Call for Ordinary Meeting</td>
                    <td align="center" valign="middle">Call for an Ordinary General Shareholders' Meeting.</td>
                    <td align="center" valign="middle"><a
                            href="/wps/wcm/myconnect/proteccion/3a7e5764-4e0f-40df-927c-b5ddb61a4f9d/7.+citacionAsambleaOrdinaria.pdf?MOD=AJPERES&amp;useDefaultText=0&amp;useDefaultDesc=0"
                            target="_blank" title="">See&nbsp;attachment</a></td>
                </tr>
                <tr>
                    <td align="center" valign="middle">1/31/2013</td>
                    <td align="center" valign="middle">18:33:22</td>
                    <td align="center" valign="middle">Profit or Loss Project to be presented at the Meeting</td>
                    <td align="center" valign="middle">In the meeting held today, the Board of directors of PROTECCION
                        S.A. agreed to propose to the General Shareholders' Meeting the declaration of a dividend of
                        COP&nbsp;1,787 per share on the net profit of the year 2012, payable on 4/15/2013.</td>
                    <td align="center" valign="middle"><a
                            href="/wps/wcm/myconnect/proteccion/401bcb28-7795-42b8-a3d5-2aceb7add66f/8.+proyectoUtilidadPerdida.pdf?MOD=AJPERES&amp;useDefaultText=0&amp;useDefaultDesc=0"
                            target="_blank" title="">See&nbsp;attachment</a></td>
                </tr>
                <tr>
                    <td align="center" valign="middle">1/31/2013</td>
                    <td align="center" valign="middle">18:23:13</td>
                    <td align="center" valign="middle">Shareholder Representation (Res.116 / Feb. 27/2002)</td>
                    <td align="center" valign="middle">The letter addressed to the Financial Superintendence, in
                        compliance with the provisions set forth in External Bulletin 024 / 2010, is attached hereto.
                    </td>
                    <td align="center" valign="middle"><a
                            href="/wps/wcm/myconnect/proteccion/4270c88a-39d3-4a67-9850-521d5509b808/9.+representacionAccionistas.pdf?MOD=AJPERES&amp;useDefaultText=0&amp;useDefaultDesc=0"
                            target="_blank" title="">See&nbsp;attachment</a></td>
                </tr>
                <tr>
                    <td align="center" valign="middle">1/31/2013</td>
                    <td align="center" valign="middle">18:21:32</td>
                    <td align="center" valign="middle">Board Decisions</td>
                    <td align="center" valign="middle">In a meeting held on January 31, 2013, the Board of Directors of
                        PROTECCION S.A. approved the announcement to call for the Ordinary General Shareholders' Meeting
                        for March 14, 2013 at 9:00&nbsp;a.m.</td>
                    <td align="center" valign="middle">N/A</td>
                </tr>
                <tr>
                    <td align="center" valign="middle">1/25/2013</td>
                    <td align="center" valign="middle">12:42:41</td>
                    <td align="center" valign="middle">Previously agreed transactions</td>
                    <td align="center" valign="middle">In communication filed under 2013006495-000-000 1/25/13, Valores
                        Bancolombia informed this Superintendence of a previously agreed transaction concerning shares
                        in Protección between persons who are not the real beneficiaries.</td>
                    <td align="center" valign="middle"><a
                            href="/wps/wcm/myconnect/proteccion/84145c72-cf6e-4b3b-a121-329845f9ed6c/10.+descarga.tiff?MOD=AJPERES&amp;useDefaultText=0&amp;useDefaultDesc=0"
                            target="_blank" title="">See&nbsp;attachment</a></td>
                </tr>
                <tr>
                    <td align="center" valign="middle">1/11/2013</td>
                    <td align="center" valign="middle">18:13:52</td>
                    <td align="center" valign="middle">Issuer control situations</td>
                    <td align="center" valign="middle">The listing of a control situation in the business registry was
                        reported. See attachment</td>
                    <td align="center" valign="middle"><a
                            href="/wps/wcm/myconnect/proteccion/dab45015-d00b-43b2-8467-8fc5aba914ba/11.+descarga.pdf?MOD=AJPERES&amp;useDefaultText=0&amp;useDefaultDesc=0"
                            target="_blank" title="">See&nbsp;attachment</a></td>
                </tr>
            </tbody>
        </table>
    </div>
 
    <h3>Administradora de Fondos de Pensiones y Cesantías Protección S.A.: Information reported for 2012</h3>
 
    <div>
        <table border="0" cellpadding="0" cellspacing="0" name="2" style="width: 400px;" width="569">
            <tbody>
                <tr>
                    <td align="center" colspan="5" valign="middle">Administradora de Fondos de Pensiones y Cesantías
                        Protección S.A.: Information reported from 1/26/2012 to 12/31/2012</td>
                </tr>
                <tr>
                    <td align="center" valign="middle"><strong>Published on</strong></td>
                    <td align="center" valign="middle" width="142"><strong>Time</strong></td>
                    <td align="center" valign="middle"><strong>Topic</strong></td>
                    <td align="center" valign="middle" width="142"><strong>Summary</strong></td>
                    <td align="center" valign="middle"><strong>Appendix</strong></td>
                </tr>
                <tr>
                </tr>
                <tr>
                    <td align="center" valign="middle">12/31/2012</td>
                    <td align="center" valign="middle">14:36:20</td>
                    <td align="center" valign="middle">Merger</td>
                    <td align="center" valign="middle">The merger by absorption between PROTECCION S.A., the Absorbing
                        Entity and ING PENSIONES Y CESANTIAS, Absorbed Entity, was made official today.</td>
                    <td align="center" valign="middle">N/A</td>
                </tr>
                <tr>
                    <td align="center" valign="middle">12/28/2012</td>
                    <td align="center" valign="middle">10:47:11</td>
                    <td align="center" valign="middle">Bylaw Reform</td>
                    <td align="center" valign="middle">The bylaw reform consisting of the merger by absorption between
                        PROTECCION S.A., the Absorbing Entity and ING PENSIONES Y CESANTIAS, Absorbed Entity, was
                        formalized through Public Deed No. 2086 / 12/26/2012.</td>
                    <td align="center" valign="middle">N/A</td>
                </tr>
                <tr>
                    <td align="center" valign="middle">12/17/2012</td>
                    <td align="center" valign="middle">17:50:27</td>
                    <td align="center" valign="middle">Extraordinary Meetings</td>
                    <td align="center" valign="middle">The Extraordinary General Shareholders' Meeting of Protección
                        S.A. approved the commitment to merge with Ing Pensiones y Cesantía S.A., authorized the legal
                        representative to make the merger official and approved the amendment of the Bylaws.</td>
                    <td align="center" valign="middle"><a
                            href="/wps/wcm/myconnect/proteccion/9c637a2a-d34f-4722-b3f8-ae0672674289/12+.DecisionesAsamblea.pdf?MOD=AJPERES&amp;useDefaultText=0&amp;useDefaultDesc=0"
                            target="_blank" title="">See attachment</a></td>
                </tr>
                <tr>
                    <td align="center" valign="middle">12/11/2012</td>
                    <td align="center" valign="middle">16:43:41</td>
                    <td align="center" valign="middle">Ratings of entities supervised by the Financial Superintendence
                        of Colombia</td>
                    <td align="center" valign="middle">Fitch Ratings Colombia S.A., SCV, published the technical report
                        corresponding to the national rating of Administradora de Fondos de Pensiones y Cesantía
                        Protección S.A. as an Administrator of Investment Assets</td>
                    <td align="center" valign="middle"><a
                            href="/wps/wcm/myconnect/proteccion/b3428f02-ef08-4afb-ad83-aa99fda5b072/13.+Factores.pdf?MOD=AJPERES&amp;useDefaultText=0&amp;useDefaultDesc=0"
                            target="_blank" title="">See attachment</a></td>
                </tr>
                <tr>
                    <td align="center" valign="middle">12/5/2012</td>
                    <td align="center" valign="middle">15:47:37</td>
                    <td align="center" valign="middle">Ratings of entities supervised by the Financial Superintendence
                        of Colombia</td>
                    <td align="center" valign="middle">Fitch Ratings published the rating report for Protección's High
                        Risk Mandatory Pension Fund based on its periodic review</td>
                    <td align="center" valign="middle"><a
                            href="/wps/wcm/myconnect/proteccion/a500cec5-8fbb-488a-855b-b36aa61f28d8/14.+FondoPensiones.pdf?MOD=AJPERES&amp;useDefaultText=0&amp;useDefaultDesc=0"
                            target="_blank" title="">See attachment</a></td>
                </tr>
                <tr>
                    <td align="center" valign="middle">12/5/2012</td>
                    <td align="center" valign="middle">15:38:17</td>
                    <td align="center" valign="middle">Ratings of entities supervised by the Financial Superintendence
                        of Colombia</td>
                    <td align="center" valign="middle">Fitch Ratings published the rating report for Protección's
                        Mandatory Pension Fund for Planned Retirement based on its periodic review</td>
                    <td align="center" valign="middle"><a
                            href="/wps/wcm/myconnect/proteccion/d09daf64-120f-4b10-aba8-20830ccdd3f8/15.+FondoPensionesObligatorias.pdf?MOD=AJPERES&amp;useDefaultText=0&amp;useDefaultDesc=0"
                            target="_blank" title="">See attachment</a></td>
                </tr>
                <tr>
                    <td align="center" valign="middle">12/5/2012</td>
                    <td align="center" valign="middle">15:23:03</td>
                    <td align="center" valign="middle">Ratings of entities supervised by the Financial Superintendence
                        of Colombia</td>
                    <td align="center" valign="middle">Fitch Ratings published the rating report for Protección's
                        Conservative Risk Mandatory Pension Fund based on its periodic review</td>
                    <td align="center" valign="middle"><a
                            href="/wps/wcm/myconnect/proteccion/50141f83-7f2c-4225-8423-7d70731a6c90/16.+FondoPensionesObligatoriasConservador.pdf?MOD=AJPERES&amp;useDefaultText=0&amp;useDefaultDesc=0"
                            target="_blank" title="">See attachment</a></td>
                </tr>
                <tr>
                    <td align="center" valign="middle">12/5/2012</td>
                    <td align="center" valign="middle">15:16:21</td>
                    <td align="center" valign="middle">Ratings of entities supervised by the Financial Superintendence
                        of Colombia</td>
                    <td align="center" valign="middle">Fitch Ratings published the rating report for Protección's
                        Moderate Risk Mandatory Pension Fund on occasion of its periodic review</td>
                    <td align="center" valign="middle"><a
                            href="/wps/wcm/myconnect/proteccion/afa2fa5a-86eb-41b0-bd2d-29ca732f9c67/17.+FondoPensionesObligatoriasModerado.pdf?MOD=AJPERES&amp;useDefaultText=0&amp;useDefaultDesc=0"
                            target="_blank" title="">See attachment</a></td>
                </tr>
                <tr>
                    <td align="center" valign="middle">12/3/2012</td>
                    <td align="center" valign="middle">12:50:06</td>
                    <td align="center" valign="middle">Ratings of entities supervised by the Financial Superintendence
                        of Colombia</td>
                    <td align="center" valign="middle">Fitch Ratings Colombia S.A., SCV, confirmed the "M1 (col)"
                        national rating of Administradora de Fondos de Pensiones y Cesantías Protección S.A. as an
                        Administrator of Investment Assets</td>
                    <td align="center" valign="middle"><a
                            href="/wps/wcm/myconnect/proteccion/55fe0632-4be7-49e6-992c-ad5ffdb2cec6/18.+RAC.pdf?MOD=AJPERES&amp;useDefaultText=0&amp;useDefaultDesc=0"
                            target="_blank" title="">See attachment</a></td>
                </tr>
                <tr>
                    <td align="center" valign="middle">11/26/2012</td>
                    <td align="center" valign="middle">15:03:12</td>
                    <td align="center" valign="middle">Ratings of entities supervised by the Financial Superintendence
                        of Colombia</td>
                    <td align="center" valign="middle">Fitch Ratings confirmed the rating for Protección's High Risk
                        Mandatory Pension Fund at 4/AAA (Col) based on its periodic review.</td>
                    <td align="center" valign="middle"><a
                            href="/wps/wcm/myconnect/proteccion/035bee36-aa43-4861-af47-741949258776/19.+RACRiesgo.pdf?MOD=AJPERES&amp;useDefaultText=0&amp;useDefaultDesc=0"
                            target="_blank" title="">See attachment</a></td>
                </tr>
                <tr>
                    <td align="center" valign="middle">11/26/2012</td>
                    <td align="center" valign="middle">14:59:27</td>
                    <td align="center" valign="middle">Ratings of entities supervised by the Financial Superintendence
                        of Colombia</td>
                    <td align="center" valign="middle">Fitch Ratings lowered the rating for the Mandatory Pension Fund
                        for Planned Retirement from 3/AAA (Col) to 2/AAA (Col) based on its periodic review.</td>
                    <td align="center" valign="middle"><a
                            href="/wps/wcm/myconnect/proteccion/e0045522-e9b9-4a2b-891e-b5afa37b1f1d/20.+RACRetiro.pdf?MOD=AJPERES&amp;useDefaultText=0&amp;useDefaultDesc=0"
                            target="_blank" title="">See attachment</a></td>
                </tr>
                <tr>
                    <td align="center" valign="middle">11/26/2012</td>
                    <td align="center" valign="middle">14:54:59</td>
                    <td align="center" valign="middle">Ratings of entities supervised by the Financial Superintendence
                        of Colombia</td>
                    <td align="center" valign="middle">Fitch Ratings confirmed the rating for Protección's Moderate Risk
                        Mandatory Pension Fund at 3/AAA (Col) based on its periodic review.</td>
                    <td align="center" valign="middle"><a
                            href="/wps/wcm/myconnect/proteccion/afbacb5f-4ebb-44dc-bbd4-3f26e44457cf/21.+RACModerado.pdf?MOD=AJPERES&amp;useDefaultText=0&amp;useDefaultDesc=0"
                            target="_blank" title="">See attachment</a></td>
                </tr>
                <tr>
                    <td align="center" valign="middle">11/26/2012</td>
                    <td align="center" valign="middle">14:45:58</td>
                    <td align="center" valign="middle">Ratings of entities supervised by the Financial Superintendence
                        of Colombia</td>
                    <td align="center" valign="middle">Fitch Ratings confirmed the rating for Protección's Conservative
                        Risk Mandatory Pension Fund at 2/AAA (Col) based on its periodic review.</td>
                    <td align="center" valign="middle"><a
                            href="/wps/wcm/myconnect/proteccion/fb5b32e0-ad17-4faa-abb0-53cd49dd42e5/22.+RACConservador.pdf?MOD=AJPERES&amp;useDefaultText=0&amp;useDefaultDesc=0"
                            target="_blank" title="">See attachment</a></td>
                </tr>
                <tr>
                    <td align="center" valign="middle">11/26/2012</td>
                    <td align="center" valign="middle">14:45:58</td>
                    <td align="center" valign="middle">Ratings of entities supervised by the Financial Superintendence
                        of Colombia</td>
                    <td align="center" valign="middle">Fitch Ratings confirmed the rating for Protección's Conservative
                        Risk Mandatory Pension Fund at 2/AAA (Col) based on its periodic review.</td>
                    <td align="center" valign="middle"><a
                            href="/wps/wcm/myconnect/proteccion/d8b4736a-fa79-47ee-96bd-6c864de6e957/23.+RACConservador2.pdf?MOD=AJPERES&amp;useDefaultText=0&amp;useDefaultDesc=0"
                            target="_blank" title="">See attachment</a></td>
                </tr>
                <tr>
                    <td align="center" valign="middle">11/16/2012</td>
                    <td align="center" valign="middle">15:40:39</td>
                    <td align="center" valign="middle">Extraordinary Meetings</td>
                    <td align="center" valign="middle">In a notice published on November 16, 2012 in a national
                        newspaper, Protección S.A. called for an extraordinary General Shareholders' Meeting for
                        December 17, 2012. Appendix: Merger Commitment Project.</td>
                    <td align="center" valign="middle"><a
                            href="/wps/wcm/myconnect/proteccion/f6c1974e-d834-43d4-b047-23efbf638068/24.+OrdenDia.pdf?MOD=AJPERES&amp;useDefaultText=0&amp;useDefaultDesc=0"
                            target="_blank" title="">See attachment</a></td>
                </tr>
                <tr>
                    <td align="center" valign="middle">11/14/2012</td>
                    <td align="center" valign="middle">18:56:48</td>
                    <td align="center" valign="middle">Issue or cancellation of concessions or licenses</td>
                    <td align="center" valign="middle">The Financial Superintendence of Colombia indicated no objection
                        to the merger process.</td>
                    <td align="center" valign="middle"><a
                            href="/wps/wcm/myconnect/proteccion/d155d710-bbd9-444f-b007-ca55a227685b/25.+Ortogamiento.pdf?MOD=AJPERES&amp;useDefaultText=0&amp;useDefaultDesc=0"
                            target="_blank" title="">See attachment</a></td>
                </tr>
                <tr>
                    <td align="center" valign="middle">10/25/2012</td>
                    <td align="center" valign="middle">19:04:26</td>
                    <td align="center" valign="middle">Board Decisions</td>
                    <td align="center" valign="middle">The Board of Directors of PROTECCION S.A. agreed to present at
                        the General Shareholders' Meeting the appendix explaining the method of assessment of PROTECCION
                        S.A. and ING PENSIONES Y CESANTIAS, as well as the exchange ratio resulting from the application
                        thereof.</td>
                    <td align="center" valign="middle">N/A</td>
                </tr>
                <tr>
                    <td align="center" valign="middle">10/19/2012</td>
                    <td align="center" valign="middle">16:55:55</td>
                    <td align="center" valign="middle">Bylaw Reform</td>
                    <td align="center" valign="middle">Protección S.A. reported that the bylaw reform approved by the
                        General Shareholders' Meeting concerning the increase in the Company's authorized capital was
                        protocolized and listed in the Business Registry.</td>
                    <td align="center" valign="middle">N/A</td>
                </tr>
                <tr>
                    <td align="center" valign="middle">10/18/2012</td>
                    <td align="center" valign="middle">17:27:32</td>
                    <td align="center" valign="middle">Ratings of entities supervised by the Financial Superintendence
                        of Colombia</td>
                    <td align="center" valign="middle">Fitch Ratings published the rating report for Protección's
                        Short-term Voluntary Pension Fund based on its periodic review.</td>
                    <td align="center" valign="middle"><a
                            href="/wps/wcm/myconnect/proteccion/348f3b64-cde4-47b4-a565-2f9d9277c6ee/26.+FondoVoluntariasCortoPlazo.pdf?MOD=AJPERES&amp;useDefaultText=0&amp;useDefaultDesc=0"
                            target="_blank" title="">See attachment</a></td>
                </tr>
                <tr>
                    <td align="center" valign="middle">10/18/2012</td>
                    <td align="center" valign="middle">17:24:36</td>
                    <td align="center" valign="middle">Ratings of entities supervised by the Financial Superintendence
                        of Colombia</td>
                    <td align="center" valign="middle">Fitch Ratings published the rating report for Protección's
                        High-Liquidity Voluntary Pension Fund based on its periodic review.</td>
                    <td align="center" valign="middle"><a
                            href="/wps/wcm/myconnect/proteccion/a29ad3aa-8525-4110-ab09-0201b6019ff9/27.+FondoVoluntariasAltaLiquidez.pdf?MOD=AJPERES&amp;useDefaultText=0&amp;useDefaultDesc=0"
                            target="_blank" title="">See attachment</a></td>
                </tr>
                <tr>
                    <td align="center" valign="middle">10/18/2012</td>
                    <td align="center" valign="middle">17:21:19</td>
                    <td align="center" valign="middle">Ratings of entities supervised by the Financial Superintendence
                        of Colombia</td>
                    <td align="center" valign="middle">Fitch Ratings published the rating report for Protección's
                        Diversified Voluntary Pension Fund based on its periodic review.</td>
                    <td align="center" valign="middle"><a
                            href="/wps/wcm/myconnect/proteccion/eafffee2-dba5-4894-845c-4310aa985584/28.+FondoVoluntariasDiversificado.pdf?MOD=AJPERES&amp;useDefaultText=0&amp;useDefaultDesc=0"
                            target="_blank" title="">See attachment</a></td>
                </tr>
                <tr>
                    <td align="center" valign="middle">10/18/2012</td>
                    <td align="center" valign="middle">17:15:48</td>
                    <td align="center" valign="middle">Ratings of entities supervised by the Financial Superintendence
                        of Colombia</td>
                    <td align="center" valign="middle">Fitch Ratings published the rating report for Protección's
                        Long-term Voluntary Pension Fund based on its periodic review.</td>
                    <td align="center" valign="middle"><a
                            href="/wps/wcm/myconnect/proteccion/af4fe502-5e90-45e2-8654-a8319e56abb3/29.+FondoVoluntariasLargoPlazo.pdf?MOD=AJPERES&amp;useDefaultText=0&amp;useDefaultDesc=0"
                            target="_blank" title="">See attachment</a></td>
                </tr>
                <tr>
                    <td align="center" valign="middle">10/9/2012</td>
                    <td align="center" valign="middle">16:16:14</td>
                    <td align="center" valign="middle">Ratings of entities supervised by the Financial Superintendence
                        of Colombia</td>
                    <td align="center" valign="middle">Fitch Ratings lowered the market risk rating for Protección's
                        Long-term Voluntary Pension Fund from 5/AAA (Col) to 3/AAA (Col) based on its periodic review.
                    </td>
                    <td align="center" valign="middle"><a
                            href="/wps/wcm/myconnect/proteccion/de3fdebc-a749-4fc1-ad1e-85841e8403fc/30.+FondoVoluntariasLargoPlazoA.pdf?MOD=AJPERES&amp;useDefaultText=0&amp;useDefaultDesc=0"
                            target="_blank" title="">See attachment</a></td>
                </tr>
                <tr>
                    <td align="center" valign="middle">10/9/2012</td>
                    <td align="center" valign="middle">16:12:30</td>
                    <td align="center" valign="middle">Ratings of entities supervised by the Financial Superintendence
                        of Colombia</td>
                    <td align="center" valign="middle">Fitch Ratings lowered the market risk rating for Protección's
                        Diversified Voluntary Pension Fund from 5/AAA (Col) to 2/AAA (Col) based on its periodic review.
                    </td>
                    <td align="center" valign="middle"><a
                            href="/wps/wcm/myconnect/proteccion/3fdbdbe0-d590-475d-ae90-6bf1423165c1/31.+RACDiversificado.pdf?MOD=AJPERES&amp;useDefaultText=0&amp;useDefaultDesc=0"
                            target="_blank" title="">See attachment</a></td>
                </tr>
                <tr>
                    <td align="center" valign="middle">10/9/2012</td>
                    <td align="center" valign="middle">16:10:16</td>
                    <td align="center" valign="middle">Ratings of entities supervised by the Financial Superintendence
                        of Colombia</td>
                    <td align="center" valign="middle">Fitch Ratings confirmed the rating for Protección's Short-term
                        Voluntary Pension Fund at 1/AAA (Col) based on its periodic review.</td>
                    <td align="center" valign="middle"><a
                            href="/wps/wcm/myconnect/proteccion/a2045d24-b8fc-4f80-b82e-d6f9d49e0fa3/32.+RACCortoPlazo.pdf?MOD=AJPERES&amp;useDefaultText=0&amp;useDefaultDesc=0"
                            target="_blank" title="">See attachment</a></td>
                </tr>
                <tr>
                    <td align="center" valign="middle">10/9/2012</td>
                    <td align="center" valign="middle">16:07:44</td>
                    <td align="center" valign="middle">Ratings of entities supervised by the Financial Superintendence
                        of Colombia</td>
                    <td align="center" valign="middle">Fitch Ratings confirmed the rating for Protección's
                        High-liquidity Voluntary Pension Fund at 1/AAA (Col) based on its periodic review.</td>
                    <td align="center" valign="middle"><a
                            href="/wps/wcm/myconnect/proteccion/e2de4d96-b657-435b-858b-58bc2ccfcf77/33.+RACAltaLiquidez.pdf?MOD=AJPERES&amp;useDefaultText=0&amp;useDefaultDesc=0"
                            target="_blank" title="">See attachment</a></td>
                </tr>
                <tr>
                    <td align="center" valign="middle">10/4/2012</td>
                    <td align="center" valign="middle">18:41:26</td>
                    <td align="center" valign="middle">Board Decisions</td>
                    <td align="center" valign="middle">The Board of Directors agreed to present for the approval of the
                        Shareholders' Meeting the appendix explaining the method of assessment of PROTECCION S.A. and
                        ING Colombia, ands the exchange ratio resulting from the application thereof.</td>
                    <td align="center" valign="middle">N/A</td>
                </tr>
                <tr>
                    <td align="center" valign="middle">9/25/2012</td>
                    <td align="center" valign="middle">16:55:04</td>
                    <td align="center" valign="middle">Ratings of entities supervised by the Financial Superintendence
                        of Colombia</td>
                    <td align="center" valign="middle">Fitch Ratings published the rating report for Protección's
                        Long-term Severance Fund based on its periodic review.</td>
                    <td align="center" valign="middle"><a
                            href="/wps/wcm/myconnect/proteccion/8a6d0dc2-2507-45e0-bfea-6d1c51067da7/34.+FondoCesantiasLargoPlazo.pdf?MOD=AJPERES&amp;useDefaultText=0&amp;useDefaultDesc=0"
                            target="_blank" title="">See attachment</a></td>
                </tr>
                <tr>
                    <td align="center" valign="middle">9/25/2012</td>
                    <td align="center" valign="middle">16:55:04</td>
                    <td align="center" valign="middle">Ratings of entities supervised by the Financial Superintendence
                        of Colombia</td>
                    <td align="center" valign="middle">Fitch Ratings published the rating report for Protección's
                        Long-term Severance Fund based on its periodic review.</td>
                    <td align="center" valign="middle"><a
                            href="/wps/wcm/myconnect/proteccion/fdda25d4-5022-4e47-a160-2921af13fd5a/35.+FondoCesantiasLargoPlazoA.pdf?MOD=AJPERES&amp;useDefaultText=0&amp;useDefaultDesc=0"
                            target="_blank" title="">See attachment</a></td>
                </tr>
                <tr>
                    <td align="center" valign="middle">9/25/2012</td>
                    <td align="center" valign="middle">16:51:11</td>
                    <td align="center" valign="middle">Ratings of entities supervised by the Financial Superintendence
                        of Colombia</td>
                    <td align="center" valign="middle">Fitch Ratings published the rating report for Protección's
                        Short-term Severance Fund based on its periodic review.</td>
                    <td align="center" valign="middle"><a
                            href="/wps/wcm/myconnect/proteccion/1f109aa0-4f79-471a-8363-ecefbfafeeca/36.+FondoCesantiasCortoPlazo.pdf?MOD=AJPERES&amp;useDefaultText=0&amp;useDefaultDesc=0"
                            target="_blank" title="">See attachment</a></td>
                </tr>
                <tr>
                    <td align="center" valign="middle">9/14/2012</td>
                    <td align="center" valign="middle">17:54:07</td>
                    <td align="center" valign="middle">Ratings of entities supervised by the Financial Superintendence
                        of Colombia</td>
                    <td align="center" valign="middle">Fitch Ratings confirmed the rating for Protección's Long-term
                        Severance Fund at 4/AAA (Col) based on its periodic review.</td>
                    <td align="center" valign="middle"><a
                            href="/wps/wcm/myconnect/proteccion/0389a46d-59de-4e57-b838-60a1eaebeb64/37.+RACLargoPlazo.pdf?MOD=AJPERES&amp;useDefaultText=0&amp;useDefaultDesc=0"
                            target="_blank" title="">See attachment</a></td>
                </tr>
                <tr>
                    <td align="center" valign="middle">9/14/2012</td>
                    <td align="center" valign="middle">17:48:31</td>
                    <td align="center" valign="middle">Ratings of entities supervised by the Financial Superintendence
                        of Colombia</td>
                    <td align="center" valign="middle">Fitch Ratings confirmed the rating for Protección's Short-term
                        Severance Fund at 1/AAA (Col) based on its periodic review.</td>
                    <td align="center" valign="middle"><a
                            href="/wps/wcm/myconnect/proteccion/77de295e-589d-4378-b709-34fd7793019d/38.+RACCesantiasCortoPlazo.pdf?MOD=AJPERES&amp;useDefaultText=0&amp;useDefaultDesc=0"
                            target="_blank" title="">See attachment</a></td>
                </tr>
                <tr>
                    <td align="center" valign="middle">9/14/2012</td>
                    <td align="center" valign="middle">15:38:35</td>
                    <td align="center" valign="middle">Extraordinary Meetings</td>
                    <td align="center" valign="middle">The Extraordinary General Shareholders' Meeting of PROTECCIÓN
                        S.A. held on September 14, 2012 approved the amendment of Article 4 of the bylaws in relation to
                        the increase in authorized capital.</td>
                    <td align="center" valign="middle"><a
                            href="/wps/wcm/myconnect/proteccion/3799efed-9880-4d48-a1f2-f373c6f1b2a9/39.+DecisionesAsamblea.doc?MOD=AJPERES&amp;useDefaultText=0&amp;useDefaultDesc=0"
                            target="_blank" title="">See attachment</a></td>
                </tr>
                <tr>
                    <td align="center" valign="middle">8/31/2012</td>
                    <td align="center" valign="middle">14:16:41</td>
                    <td align="center" valign="middle">Notices published by the Company/td&gt;</td>
                    <td align="center" valign="middle">Call for an Extraordinary Shareholders' Meeting.</td>
                    <td align="center" valign="middle"><a
                            href="/wps/wcm/myconnect/proteccion/6f64c342-c33d-4908-851a-8db75e0adc04/40.+OrdenDiaA.pdf?MOD=AJPERES&amp;useDefaultText=0&amp;useDefaultDesc=0"
                            target="_blank" title="">See attachment</a></td>
                </tr>
                <tr>
                    <td align="center" valign="middle">7/26/2012</td>
                    <td align="center" valign="middle">17:13:16</td>
                    <td align="center" valign="middle">Board Decisions</td>
                    <td align="center" valign="middle">In the meeting held today, the Board of Directors agreed to
                        submit the proposal to increase the Company's authorized capital for consideration by the
                        General Shareholders' Meeting.</td>
                    <td align="center" valign="middle">N/A</td>
                </tr>
                <tr>
                    <td align="center" valign="middle">6/28/2012</td>
                    <td align="center" valign="middle">19:57:31</td>
                    <td align="center" valign="middle">Board Decisions</td>
                    <td align="center" valign="middle">The commencement of the merger process was authorized.</td>
                    <td align="center" valign="middle"><a
                            href="/wps/wcm/myconnect/proteccion/4b388c69-0c49-4964-81d9-4fc5f5dfa77b/41.+InfoRelevante.doc?MOD=AJPERES&amp;useDefaultText=0&amp;useDefaultDesc=0"
                            target="_blank" title="">See attachment</a></td>
                </tr>
                <tr>
                    <td align="center" valign="middle">4/16/2012</td>
                    <td align="center" valign="middle">17:35:10</td>
                    <td align="center" valign="middle">Notices published by the Company</td>
                    <td align="center" valign="middle">Protección S.A. clarified that the "Código País" Survey of Best
                        Corporate Practices completed today is for the period from January to December 2011.</td>
                    <td align="center" valign="middle">N/A</td>
                </tr>
                <tr>
                    <td align="center" valign="middle">4/16/2012</td>
                    <td align="center" valign="middle">17:27:42</td>
                    <td align="center" valign="middle">Notices published by the Company</td>
                    <td align="center" valign="middle">Protección S.A. reported that it completed the "Código País"
                        Survey of Best Corporate Practices through the system provided by the Financial Superintendence
                        of Colombia for the period from January to December 2010.</td>
                    <td align="center" valign="middle">N/A</td>
                </tr>
                <tr>
                    <td align="center" valign="middle">3/30/2012</td>
                    <td align="center" valign="middle">14:54:51</td>
                    <td align="center" valign="middle">Year-end Reports</td>
                    <td align="center" valign="middle">In the terms of External Bulletin 04 / 2012, Protección S.,A.
                        published the Consolidated and Year-end Financial Statements.</td>
                    <td align="center" valign="middle"><a
                            href="/wps/wcm/myconnect/proteccion/ba5b4ecf-2638-4544-84d0-93c198ffe66e/42.+InformeAnual.pdf?MOD=AJPERES&amp;useDefaultText=0&amp;useDefaultDesc=0"
                            target="_blank" title="">See attachment</a></td>
                </tr>
                <tr>
                    <td align="center" valign="middle">3/8/2012</td>
                    <td align="center" valign="middle">17:12:04</td>
                    <td align="center" valign="middle">Issuer's financial standing</td>
                    <td align="center" valign="middle">The Ordinary General Shareholders' Meeting of PROTECCIÓN S.A.
                        held on March 8, 2012 approved the Individual and Consolidated Financial Statements at December
                        31, 2011.</td>
                    <td align="center" valign="middle"><a
                            href="/wps/wcm/myconnect/proteccion/31d35e17-7b21-45c4-816e-4f9378ebd489/43.+Aprobacion.doc?MOD=AJPERES&amp;useDefaultText=0&amp;useDefaultDesc=0"
                            target="_blank" title="">See attachment</a></td>
                </tr>
                <tr>
                    <td align="center" valign="middle">3/8/2012</td>
                    <td align="center" valign="middle">17:10:41</td>
                    <td align="center" valign="middle">Profit or Loss Project approved by the Shareholders' Meeting</td>
                    <td align="center" valign="middle">In the session held on March 8, 2012, the Ordinary Shareholders'
                        Meeting of PROTECCION S.A. approved the project for the distribution of accumulated profit as at
                        December 31, 2011, attached hereto.</td>
                    <td align="center" valign="middle"><a
                            href="/wps/wcm/myconnect/proteccion/eb8a7e28-45cd-45e6-8e56-618875332c1f/44.+Proposicion.pdf?MOD=AJPERES&amp;useDefaultText=0&amp;useDefaultDesc=0"
                            target="_blank" title="">See attachment</a></td>
                </tr>
                <tr>
                    <td align="center" valign="middle">2/14/2012</td>
                    <td align="center" valign="middle">14:44:53</td>
                    <td align="center" valign="middle">Notices published by the Company</td>
                    <td align="center" valign="middle">Call for an Ordinary Shareholders' Meeting.</td>
                    <td align="center" valign="middle">N/A</td>
                </tr>
                <tr>
                    <td align="center" valign="middle">1/26/2012</td>
                    <td align="center" valign="middle">17:18:29</td>
                    <td align="center" valign="middle">Shareholder Representation (Res.116 / Feb. 27/2002)</td>
                    <td align="center" valign="middle">The communication from the Chairman of the Board of Directors of
                        Protección S.A. concerning the mechanisms to ensure the fair treatment of all shareholders in
                        the next Shareholders' Meeting is attached hereto</td>
                    <td align="center" valign="middle"><a
                            href="/wps/wcm/myconnect/proteccion/c6a02066-cd24-4eb9-b0c2-332bb3a35774/45.+SandraPatricia.pdf?MOD=AJPERES&amp;useDefaultText=0&amp;useDefaultDesc=0"
                            target="_blank" title="">See attachment</a></td>
                </tr>
                <tr>
                    <td align="center" valign="middle">1/26/2012</td>
                    <td align="center" valign="middle">17:18:29</td>
                    <td align="center" valign="middle">Shareholder Representation (Res.116 / Feb. 27/2002)</td>
                    <td align="center" valign="middle">The communication from the Chairman of the Board of Directors of
                        Protección S.A. concerning the mechanisms to ensure the fair treatment of all shareholders in
                        the next Shareholders' Meeting is attached hereto</td>
                    <td align="center" valign="middle"><a
                            href="/wps/wcm/myconnect/proteccion/55366fd8-5037-49fc-b818-3e2ef60a4f1f/46.+SandraPatriciaA.pdf?MOD=AJPERES&amp;useDefaultText=0&amp;useDefaultDesc=0"
                            target="_blank" title="">See attachment</a></td>
                </tr>
                <tr>
                    <td align="center" valign="middle">1/26/2012</td>
                    <td align="center" valign="middle">17:17:46</td>
                    <td align="center" valign="middle">Profit or Loss Project to be presented at the Meeting</td>
                    <td align="center" valign="middle">In the meeting held today, the Board of Directors agreed to
                        submit the profit distribution project attached hereto for consideration by the General
                        Shareholders' Meeting to be held on March 8, 2012.</td>
                    <td align="center" valign="middle"><a
                            href="/wps/wcm/myconnect/proteccion/45381717-88e6-48ff-a598-3e9b9256a67b/47.+ProposicionDistribuccionUtilidades.pdf?MOD=AJPERES&amp;useDefaultText=0&amp;useDefaultDesc=0"
                            target="_blank" title="">See attachment</a></td>
                </tr>
                <tr>
                    <td align="center" valign="middle">1/26/2012</td>
                    <td align="center" valign="middle">17:16:23</td>
                    <td align="center" valign="middle">Board Decisions</td>
                    <td align="center" valign="middle">In the meeting held today, the Board of Directors agreed to call
                        for an Ordinary General Shareholders' Meeting for March 8, 2012 at 9:00&nbsp;p.m. at Calle 49
                        No. 63-100 in Medellín.</td>
                    <td align="center" valign="middle">N/A</td>
                </tr>
            </tbody>
        </table>
    </div>
</div>
 
<p dir="ltr">&nbsp;</p>
 
<div dir="ltr" id="tittle">
    <h3>Ratings</h3>
</div>
 
<p dir="ltr">&nbsp;</p>
 
<div dir="ltr" id="accordion" style="width: 650px;">
    <h3>Risk</h3>
 
    <div>
        <p dir="ltr">The economic actors of our country, such as Protección S.A., receive ratings assigned by oversight
            and control entities dedicated to observing and analyzing the management of funds. At Protección, we are
            interested that you, as a shareholder, know the risk ratings obtained by the Company and the portfolios we
            manage.</p>
 
        <p dir="ltr"><strong>Rating as Administrators of Investment Assets:&nbsp;</strong> Assesses the operations
            carried out for the administration of investment assets and the vulnerability thereof in the event of
            operational failure or in the administration of investments.</p>
 
        <p dir="ltr">This type of rating, in the case of Pension and Severance Fund Management Companies (AFP, for the
            Spanish original), applies for the administration of Mandatory Pension Funds, Severance Funds, Voluntary
            Pension Funds and Pension Liabilities.</p>
 
        <p dir="ltr" style="font-stlye:italic"><strong>In 2012, Protección S.A. received the M1 rating assigned by Fitch
                Ratings as a Manager of Investment Assets. This rating agency, whose purpose was to show the strength of
                Protección S.A. as an Administrator of Investment Assets, confirmed the highest rating, pointing out
                aspects such as asset management operations with the lowest vulnerability in the event of operational
                failure or investment management. </strong></p>
 
        <p dir="ltr"><strong>Credit risk rating:</strong> Assesses the risk of noncompliance that may occur throughout
            the life of a debt issuance, by incorporating the assessment of all known and expected future events.</p>
 
        <p dir="ltr" style="font-style:italic">The current rating for Protección S.A. in credit risk is AAA for
            Severance, Mandatory Pensions and Voluntary Pensions. This is the highest rating assigned by the risk rating
            agency for the credit quality of the instruments that make up the portfolio.
            <!--<p-->
        </p>
 
        <p dir="ltr"><strong>Market risk rating:</strong> Is meant to measure the sensitivity of changing market
            conditions and the consequent exposure to volatility of the amount of capital invested.</p>
 
        <p dir="ltr">See the details of this information in the document attached hereto. Download it to your computer
            and save it for permanent consultation.</p>
 
        <ul dir="ltr">
            <li><a href="/wps/wcm/myconnect/proteccion/ac8872e7-1a03-4d11-b293-90e432d8f769/AFP.pdf?MOD=AJPERES&amp;useDefaultText=0&amp;useDefaultDesc=0"
                    target="_blank" title="">Administrator Rating</a></li>
            <li><a href="/wps/wcm/myconnect/proteccion/348da722-f2ea-4fd3-8c2d-daed1f1f15b4/OBL_CONSERVADOR.pdf?MOD=AJPERES&amp;useDefaultText=0&amp;useDefaultDesc=0"
                    target="_blank" title="">Conservative MPF Rating</a></li>
            <li><a href="/wps/wcm/myconnect/proteccion/3e8a6894-9c97-4694-8ac6-7214cd2e29ab/OBL_MODERADO.pdf?MOD=AJPERES&amp;useDefaultText=0&amp;useDefaultDesc=0"
                    target="_blank" title="">Moderate MPF Rating</a></li>
            <li><a href="/wps/wcm/myconnect/proteccion/6db887d1-f24d-4d9f-b24d-c3520ca742ec/OBL_MAYOR_RIESGO.pdf?MOD=AJPERES&amp;useDefaultText=0&amp;useDefaultDesc=0"
                    target="_blank" title="">High-Risk MPF Rating</a></li>
            <li><a href="/wps/wcm/myconnect/proteccion/34ba8e8e-b2a6-464b-ba2e-f5346760e5f5/OBL_RETIRO_PROGRAMADO.pdf?MOD=AJPERES&amp;useDefaultText=0&amp;useDefaultDesc=0"
                    target="_blank" title="">Planned Retirement MPF Rating</a></li>
            <li><a href="/wps/wcm/myconnect/proteccion/39d0709b-907c-4f91-a17e-26b1ad1400fa/CES_LP+13+Sep+2013.pdf?MOD=AJPERES&amp;useDefaultText=0&amp;useDefaultDesc=0"
                    target="_blank" title="">Long-Term Severance Pay Rating September 13</a></li>
            <li><a href="/wps/wcm/myconnect/proteccion/3d3e4ac0-dea1-41e0-a4ff-9f8d0b4625dc/CES_LP.pdf?MOD=AJPERES&amp;useDefaultText=0&amp;useDefaultDesc=0"
                    target="_blank" title="">Long-Term Severance Pay Rating October 22</a></li>
            <li><a href="/wps/wcm/myconnect/proteccion/b34ddb6b-5b74-4210-965a-ae92cb2c8dda/CES_CP+13+Sep+2013.pdf?MOD=AJPERES&amp;useDefaultText=0&amp;useDefaultDesc=0"
                    target="" title="">Short-Term Severance Pay Rating September 13&nbsp;</a></li>
            <li><a href="/wps/wcm/myconnect/proteccion/fe695c92-7af3-47d7-a207-8bdcd6b1c101/CES_CP.pdf?MOD=AJPERES&amp;useDefaultText=0&amp;useDefaultDesc=0"
                    target="_blank" title="">Short-Term Severance Pay Rating October 22</a></li>
            <li><a href="/wps/wcm/myconnect/proteccion/a0037fcf-746a-4514-aa37-be471ac5a7ce/Vol+Alta+Liquidez+01+Oct+2013.pdf?MOD=AJPERES&amp;useDefaultText=0&amp;useDefaultDesc=0"
                    target="_blank" title="">High Liquidity MPF Rating</a></li>
            <li><a href="/wps/wcm/myconnect/proteccion/a0037fcf-746a-4514-aa37-be471ac5a7ce/Vol+Alta+Liquidez+01+Oct+2013.pdf?MOD=AJPERES&amp;useDefaultText=0&amp;useDefaultDesc=0"
                    target="_blank" title="">High Liquidity Fixed Income MPF Rating</a></li>
            <li><a href="/wps/wcm/myconnect/proteccion/e4eed37d-6800-4ce4-a8f3-e26f420c3af1/Vol_LP+01+Oct+2013.pdf?MOD=AJPERES&amp;useDefaultText=0&amp;useDefaultDesc=0"
                    target="_blank" title="">Long-Term Fixed Income MPF Rating October 01</a></li>
            <li><a href="/wps/wcm/myconnect/proteccion/22e045e3-6440-4f0b-92a5-1cbeb48bf582/VOLUNTARIAS_LARGO_PLAZO.pdf?MOD=AJPERES&amp;useDefaultText=0&amp;useDefaultDesc=0"
                    target="_blank" title="">Long-Term Fixed Income MPF Rating November 11</a></li>
            <li><a href="/wps/wcm/myconnect/proteccion/03d07780-b51c-4110-8c25-7c6bb09ada1b/VOLUNTARIAS_CORTO_PLAZO.pdf?MOD=AJPERES&amp;useDefaultText=0&amp;useDefaultDesc=0"
                    target="_blank" title="">Short-Term Fixed Income MPF Rating</a></li>
            <li><a href="/wps/wcm/myconnect/proteccion/032d83d2-0249-4984-8dac-3c67800ec3ef/BALANCEADO_MODERADO.pdf?MOD=AJPERES&amp;useDefaultText=0&amp;useDefaultDesc=0"
                    target="_blank" title="">Moderate Balanced MPF Rating</a></li>
            <li><a href="/wps/wcm/myconnect/proteccion/a65a2cae-be49-4a08-80b3-d56ac76cb83f/Balanceado+Moderado+01+Oct+2013.pdf?MOD=AJPERES&amp;useDefaultText=0&amp;useDefaultDesc=0"
                    target="_blank" title="">Moderate Balanced MPF Rating October 1</a></li>
        </ul>
    </div>
 
    <h3>Icontec</h3>
 
    <div>
        <p dir="ltr">Protección S.A. has the ICONTEC Quality Certification. This certification was issued in response to
            our commitment to the continuous improvement of each of our processes and sub-processes, and is synonymous
            with commitment and stability for shareholders and investors.</p>
 
        <p dir="ltr">Through ICONTEC, Protección S.A. has been conducting the certification auditing of the Company's
            Quality Management System since 2002. Protección S.A.'s Quality Management System has been designed and
            implemented at all the offices based on ISO 9001:2000 - NTC-ISO 9001:2000 and the legal and regulatory
            requirements.</p>
    </div>
 
    <h3>M1 Rating</h3>
 
    <div>
        <p>There is no content available for this page at this time.</p>
    </div>
 
    <h3>Great Place To work</h3>
 
    <div>
        <p dir="ltr">Protección S.A. has been classified as one of the 100 best companies to work for in Latin America.
            This important recognition shows our permanent effort at the Company for continuous development and the
            professional outreach of each of our employees.</p>
    </div>
</div>
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Proteccion - Compartir Contenido - (JSR 286)

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