IR Statement OdinsaFitch Rating

Fitch Ratings confirms its confidence in Odinsa with the affirmation of its ratings AA- (Col)
Stable Outlook and F1 + (Col).
• Fitch, one of the three main risk rating agencies in the world, confirmed the rating of
Odinsa and of the issuance of its ordinary bonds.
• The agency highlighted the company’s extensive experience in project development and
optimization of its capital structure, among other factors.
• The presence of Grupo Argos as Odinsa’s controlling shareholder was evaluated by Fitch
very positively as a key factor for the rating.


Medellín, June 2021, Odinsa, a Grupo Argos concession company, received from Fitch
Ratings the ratification of its long and short-term national scale ratings of ‘AA- (col)’ with
a Stable Outlook and ‘F1 + (col ) ‘, respectively. Likewise, the ratings of the issuance of its
ordinary bonds for COP400,000 million and COP280,000 million in ‘AA- (col)’.
“We are pleased to receive these statements that become a seal of confidence for the
market and investors, recognize our management and adaptation capacity and motivate us
to continue contributing to the competitiveness of the country,” said Mauricio Ossa,
president of Odinsa.
According to the Fitch Ratings report, the ratings consider Odinsa’s extensive experience in
the development of infrastructure projects inside and outside of Colombia; its focus on
long-term concessions and, especially, strengthening its capital structure, with the effective
execution of the optimization strategy in several of its concessions.
Additionally, the agency highlighted as key factors for the rating: the presence of Grupo
Argos as a controlling shareholder, its balanced concessions portfolio with participation in
projects in different stages of maturity, its positive prospective cash flow and its ability to
manage its structure of capital despite the impacts generated by the pandemic.
About the qualifications
The AA- rating, granted to Odinsa, is a long-term national credit rating. It belongs to the first
category, in which there are debt issues with greater certainty about their ability to pay,
that is, issues that are very attractive to investors, who see Fitch’s opinion as an important
benchmark for decision-making.

Relevant Information
F1 (Col) is a short-term national credit rating. Indicates the strongest capacity for timely
payment of financial commitments in relation to other issuers or obligations in the same
country. In Fitch’s National Rating scale, this rating is assigned to the lowest default risk
compared to others in the same country. When the liquidity profile is particularly strong, a
“+” is added to the assigned rating.
For additional information contact:
Juliana Bermúdez, communications analyst / JulianaBermudez@dattis.com / 301 337 09
17
Viviana Arroyave, Director of Communications / varroyave@odinsa.com / 317 646 92 18
Visit the website www.odinsa.com
Go to https://www.fitchratings.com/es/region/colombia

IR Odinsa bonds rating

Fitch affirmed the ratings of Odinsa ́s ordinary bond issues for COP400,000
million and COP280,000 million in ‘AA- (col)’.

IR Odinsa Fitch Rating

Fitch published the technical document that supports the long and short-term
national scale ratings of Odinsa S.A. Fitch Ratings affirmed the long and short-term
national scale ratings of Odinsa S.A. (Odinsa) in ‘AA- (col)’ with Stable Perspective
‘F1 + (col)’, respectively.

Board decisions

Ícono de validado por la comunidad

Odinsa S.A. informs that today, the Board of Directors approved calling an extraordinary
meeting of the general shareholders’ meeting of Odinsa S.A., so that it can deliberate
and decide on the approval of the Merger Agreement between Odinsa S.A. (as the
absorbing company) and its subsidiary Odinsa Holding Inc. (as the absorbed company)
and can review and approve the separate and audited extraordinary financial statements
of special purpose as of May 31, 2021.

CALL FOR GENERAL SHAREHOLDERS ‘ASSEMBLY

ODINSA S.A. calls the extraordinary meeting of the General Assembly of Shareholders to
be held in the city of Medellín, on August 27, 2021, at 10:00 AM in Carrera 43 A No. 1 A
Sur-143, Centro Empresarial Santillana. For the meeting, a biosecurity protocol will be
rigorously applied to prevent contagion and affectations by COVID-19, in accordance with
the recommendations of the health authorities.
The following Agenda will be submitted to the Assembly for consideration:

ORDER OF THE DAY

  1. Verification of the quorum.
  2. Reading and approval of the Agenda.
  3. Appointment of a commission for approval and signing of the Minutes.
  4. Preparation, review and approval of the merger commitment between Odinsa S.A.
    (absorbing) and Odinsa Holding Inc. (absorbed) and the separate and audited
    extraordinary financial statements of special purpose as of May 31, 2021.
    Within the term established for the exercise of the right of inspection, the documents
    that order the current regulations, including the merger commitment, will be available to
    shareholders who wish to consult them from August 05 to 26, 2021, at the offices of the
    Administration located in Carrera 43 A No. 1 A Sur-143, telephone: (4) 3198700,
    Medellín – Colombia, for which they must send a communication to the electronic
    address: juanita.toro@odinsa.com, with the In order to meet your request and schedule

an appointment to exercise the respective right, strictly complying with the preventive
measures derived from COVID -19.
The shareholders are informed that in the event in which the projected merger would impose
greater responsibility on the shareholders or imply an impairment of their patrimonial rights,
the absent or dissident shareholders will have the right to withdraw from the company in
accordance with articles 12 and following of Law 222 of 1995.
Likewise, the shareholders are reminded that the granting of powers must be carried out in
compliance with the provisions contained in Circular 024 of 2010 issued by the Financial
Superintendence of Colombia and that in no case may the administrators or employees of
the company act as proxies. society.