Standard Contracts
GRUPO AVAL ACCIONES Y VALORES S.A. [·] Preferred Shares In the Form of American Depositary Shares Underwriting AgreementUnderwriting Agreement • September 8th, 2014 • Grupo Aval Acciones Y Valores S.A. • Commercial banks, nec • New York
Grupo Aval Acciones y Valores S.A. (the “Company”), a sociedad anónima (corporation) incorporated under the laws of the Republic of Colombia (“Colombia”), proposes to issue and sell to the several Underwriters listed in Schedule 1 hereto (the “Underwriters”), for which you are acting as representatives (the “Representatives”), an aggregate of [·] preferred shares, par value Ps1.00 per share, of the Company (“Preferred Shares”) in the form of American Depositary Shares (“ADSs”), each ADS representing 20 Preferred Shares of the Company (the “Firm Securities”). The Company also proposes to sell to the Underwriters at the option of the Underwriters, an aggregate of not more than [·] Preferred Shares of the Company in the form of ADSs (the “Option Securities”). The Firm Securities and the Option Securities are herein collectively called the “Securities.”
