CORPORATE GOVERNANCE

Meet our Board of Directors

We have solid corporate governance, our Board is comprised of 3 independent members and 6 shareholder members, who are elected for two-year terms.

Independent Members

The General Shareholders Assembly in ordinary session held on March 31, 2022, re-elected the Members of the Board of Directors for the 2022 - 2024 period

Jorge Enrique Bedoya Vizcaya

Economist from the Javeriana University of Bogotá, Master in Public Policy from Harvard University, has extensive experience, was part of the team of the National Federation of Coffee Growers and has held positions as President of the National Federation of Poultry Farmers of Colombia, Fenavi, Vice Minister of National Defense, Director of the Bavaria Foundation and Sustainable Development and currently serves as President of the SAC.

Eduardo López Obregón

Economist from Harvard University, MBA Business School University of Harvard, has held positions as Vice President of Banco de Bogotá, member of the Board of Directors of La Fortaleza SA Commercial Financing Company and the Industrial and Agricultural Development Finance Corporation. Indufinanciera SA, Legal Representative of South Trading SAS and Manager of Admnova SA

Giovanna Sardi Blum

Economist and MBA from the Massachusetts Institute of Technology and MSc from the London School of Economics. She has held positions as an associate at Monitor Company – Cambridge MA, Associate at Booz Allen and Hamilton, Private Secretary and Advisor to the Ministry of Mines and Energy, General Director of the Energy Mining Planning Unit, Partner at Sumatoria SA, Consultant at Advantis Management Consulting . He currently works as a Senior Advisor at Bain Advisor.

Shareholder Members

Elected by the General Shareholders Meeting in the ordinary session held on March 31, 2022, for the period 2022 – 2024.

Diego Bautista Rios

Industrial Engineer and Specialist in Project Evaluation from Universidad de los Andes, with a Master's in Public and Social Policies from Universidad Pompeu Fabra. Previously, he served in various capacities, including director, advisor, and consultant for Colombian government agencies (National Planning, Ministry of Agriculture, Mayor's Office of Bogotá, etc.), and spearheaded projects with international and cooperative bodies (IDB, World Bank, USAID). He advised the Office of the High Commissioner for Peace during the FARC peace talks. Founder of the Improbable Dialogues Platform. Former deputy director of USAID's Our Prosperous Land Program, promoting rural land titling, and ex-president of the Rural Development Agency. Recently, he was named director of a new five-year USAID initiative.

Sergio Enrique Villamizar Ortiz

Industrial Engineer from the Universidad de los Andes, Bachelor of Science in Industrial Engineering and Operation Research from the University of Massachusetts, MBA from Columbia University and Master's in International Relations and Management and International Energy Policies from the School of International and Public Affairs, has held positions as Senior Director of Corporate Development and Strategic Planning of the New York Mercantile Exchange and Head and Management Director of Futures and Derivatives Group Marco Polo Network Inc., Member of the Board of Directors of Termoflores SA

Carlos Andrés Piedrahíta Tello

Business Administrator from the University of San Buenaventura. He has worked for more than 25 years at DATECSA and has experience in technology, marketing and finance. He belongs to Boards of Directors such as Lima Organization, SIDOC, Fabricato and COMFANDI.

Edwin Cortés Mejía

Lawyer from the Universidad Colegio Mayor de Nuestra Señora del Rosario, Master in International Legal Studies from Georgetown University, Lawyer admitted to practice by the New York State Bar Association, he has held the positions as an independent attorney and advisor in various law firms. He currently works as a Partner of the Firm Cuberos, Cortes, Gutiérrez Abogados SA

Antonio Escobar Cuartas

Textile Engineer from the Georgia Institute of Technology. With experience in managing personal portfolios in companies such as Valores Bancolombia, Credicorp, City Bank and Merrill Lynch. He has also worked in companies such as Enka de Colombia and Cabarria y CIA. He has belonged to Boards of Directors such as the Río Piedras Hydroelectric Power Plant, Fabricato, the Fiduciary Committee for Liquidation of the Premium Fund, among others.

Mario Jaramillo Corredor

Professional in Finance and International Economics and specialist in International Business from Georgetown University and MBA from American University. He has held positions as Risk Manager at First Bank of the Americas – New York, Financial Advisor of the Luis Carlos Sarmiento Angulo LTDA Organization, Team Leader at Bank Boston, Founding Partner of Optimiza SA, PTV SAS and Managing Partner of the ELMS Y CIA SCA Group.

Support Committees for the Board of Directors

The Exchange has seven committees, which advise the Board of Directors in the excution of its duties. Each of these committees has its own regulations, setting down its duties, its composition, the periodicity and course of its meetings, among other aspects. These are specialized committees acting as study and support bodies for the Board of Directors on specific matters and its duties are those decided by the corporate body.

The Support Committees are comprised exclusively of members of the Board of Directors, who will propose strategies to perform comprehensive, efficient and transparent management, which in any case shall be adopted by decision of the Board of Directors. The Committees shall report directly to this corporate body on the progress and/or status of the duties assigned to them and are as follows.

The Exchange's Audit Committee is the support body for the function performed by the Board of Directors of Bolsa Mercantil de Colombia SA regarding the follow-up of the internal control of the Exchange and the verification of the audit function. It also serves as support for the Board of Directors in making decisions regarding Internal Control and its improvement. The audit committee does not replace the responsibility that corresponds to the Board of Directors and the administration regarding the supervision and implementation of the internal control of the Exchange and in this sense, its responsibility shall be limited to serving as support to the governing body in decision making related to its control and improvement.

Committee Members:

Jorge Bedoya Vizcaya
Eduardo López Obregón
Giovanna Sardi Blum

Reglamento Comité de Auditoría

The Risk Committee of the Exchange is an internal body, in charge of monitoring the risks that affect the activity of the Exchange and formulating recommendations for their management, within the framework established by the risk control and management system, for which purpose it is responsible for assessing the policies, mechanisms and procedures implemented to mitigate the risks in which the Exchange may be involved in the performance of its corporate purpose, as well as recommending to the Board of Directors the measures or adjustments as may be appropriate. This Committee monitors the risks (SARO, SARM, SARLAFT and SARF) that might affect the activity of the entity.

Committee Members:

Eduardo López Obregón
Diego Bautista Ríos
Antonio Escobar Cuartas

Reglamento Comité de Riesgos

The Corporate Governance Committee of the Board of Directors of the Bolsa Mercantil de Colombia SA, is a support body for the management carried out by the Board of Directors regarding the the Exchange's good Corporate Governance practices, and whose main objective is to recommend to the Board of Directors procedures for the adoption, improvement and monitoring of the entity's corporate governance practices.

Committee Members:

Carlos Andrés Piedrahíta Tello
Sergio Villamizar Ortiz
Edwin Cortés Mejía
Jorge Enrique Bedoya

Reglamento Comité de Gobierno Corporativo

Committees attached to the Board of Directors

They are those that have the participation of members of the Board, some members of Senior Management, officials of the Exchange and external members of the same, which are:

The Regulation Committee of the Board of Directors of the Colombian Mercantile Exchange SA, has as its objective, to deepen the study and understanding of the Regulations of Functioning and Operation of the Exchange, in order to make proposals for modifications when they are necessary and which will be taken for approval by the Board of Directors of the Exchange and for authorization by the Financial Superintendence of Colombia.

Committee Members:

Edwin Cortés Mejía
Diego Bautista Ríos

Reglamento Comité de Regulación

The Standards Committee of the Board of Directors of the Bolsa Mercantil de Colombia S.A. is in charge of determining the qualities of commodities and services, as well as the terms and conditions of documents of title or representative of merchandise, certificates, securities, rights, derivatives and contracts that are traded on the Exchange. Within its scope, the Committee evaluates the origin, feasibility, and appropriateness of the registration of the products that are traded on the Exchange.

Committee Members:

Carlos Andrés Piedrahíta Tello
María Inés Agudelo
Presidente de la Bolsa Mercantil
Luis Eduardo Quintero Leal
Samuel Zambrano

Reglamento Comité de Estándares

The purpose of the Business Committee is to provide support to the Board of Directors and the Administration in matters directly related to the activities and/or development of the SCBs. Likewise, it is the avenue of interlocution between the SCBs, the Board of Directors of the Exchange and its Administration.

Committee Members:

Sergio Villamizar Ortiz
Antonio Escobar Cuartas
Mario Jaramillo Corredor
Carlos Andrés Piedrahíta Tello

Reglamento Comité de Negocios

The purpose of the Business Transformation Committee of the Board of Directors of Bolsa Mercantil de Colombia S.A. is to support the Board of Directors in monitoring the digital strategy and operational efficiency plans, as well as to monitor and discuss strategic, technological, innovation, and cultural change projects, with the aim of submitting reports and recommendations to the Board of Directors, for decision-making.

Committee Members:

Mario Jaramillo Corredor
Giovanna Sardi Blum
Jorge Acevedo

Reglamento Comité de Transformación del Negocio