Top 20 shareholders GRUPO NUTRESA S.A. top 20 shareholders reviewed: mar-2014 Name of shareholder

GRUPO DE INVERSIONES SURAMERICANA S.A. GRUPO ARGOS S.A. FONDO DE PENSIONES OBLIGATORIAS PORVENIR MODERADO FDO DE PENSIONES OBLIGATORIAS PROTECCION MODERADO AMALFI S.A. MICROINVERSIONES S.A. FONDO DE PENSIONES OBLIGATORIAS COLFONDOS MODERADO FONDO BURSATIL ISHARES COLCAP INVERSIONES EL DUERO S.A.S. FINESTERRE S.A.S. & CIA S.C.A. LIBREVILLE S.A.S. FUNDACION FRATERNIDAD MEDELLIN FONDO DE PENSIONES OBLIGATORIAS SKANDIA S.A. NEW WORLD FUND INC NORGES BANK PALACIO RESTREPO CLARA INES PALACIO RESTREPO ANA MARIA CANAPA S.A.S. LUNAPA S.A.S. LANAPA S.A.S. other 15.049 shareholders

# shares

%

158,835,279

34.52%

38,246,145

8.31%

27,330,896

5.94%

20,313,521

4.41%

11,296,142

2.46%

10,751,984

2.34%

9,046,283

1.97%

7,830,480

1.70%

6,997,636

1.52%

5,713,266

1.24%

5,514,904

1.20%

4,520,000

0.98%

3,823,339

0.83%

3,341,557

0.73%

2,996,105

0.65%

2,804,653

0.61%

2,343,636

0.51%

2,288,981

0.50%

2,288,980

0.50%

2,288,980

0.50%

131,550,691 460,123,458

28.59% 100%