Filed pursuant to Rule 424(b)(3)
Registration No. 333-284683

TABLE OF CONTENTS

Prospectus Supplement

Prospectus

Colombia has only provided to you the information contained in or incorporated by reference in this prospectus supplement and the accompanying prospectus. Colombia has not authorized anyone to provide you with different information. Colombia is not making an offer of these securities in any jurisdiction where the offer is not permitted. You should not assume that the information contained in this prospectus supplement or the accompanying prospectus is accurate as of any date other than the date on the front of this prospectus supplement.

PROHIBITION OF SALES TO EEA RETAIL INVESTORS—The bonds are not intended to be offered, sold or otherwise made available to and should not be offered, sold or otherwise made available to

any retail investor in the European Economic Area (“EEA”). For these purposes, a retail investor means a person who is one (or more) of: (i) a retail client as defined in point (11) of Article 4(1) of MiFID II; or (ii) a customer within the meaning of Directive 2016/97/EU (as amended, the “Insurance Distribution Directive”), where that customer would not qualify as a professional client as defined in point (10) of Article 4(1) of MiFID II. Consequently, no key information document required by Regulation (EU) No 1286/2014 (as amended, the “PRIIPs Regulation”) for offering or selling the bonds or otherwise making them available to retail investors in the EEA has been prepared and therefore offering or selling the bonds or otherwise making them available to any retail investor in the EEA may be unlawful under the PRIIPs Regulation.

PROHIBITION OF SALES TO UK RETAIL INVESTORS—The bonds are not intended to be offered, sold, distributed or otherwise made available to and should not be offered, sold, distributed or otherwise made available to any retail investor in the United Kingdom (“UK”). For these purposes, a retail investor means a person who is not a professional client, as defined in point (8) of Article 2(1) of Regulation (EU) No 600/2014 as it forms part of domestic law by virtue of the European Union (Withdrawal) Act 2018 (as amended, the “EUWA”). Consequently, no disclosure document required by the FCA Product Disclosure Sourcebook (“DISC”) for offering, selling or distributing the bonds or otherwise making them available to retail investors in the UK has been prepared and therefore offering, selling or distributing the bonds or otherwise making them available to any retail investor in the UK may be unlawful under DISC and the Consumer Composite Investments (Designated Activities) Regulations 2024.

This prospectus supplement is only being distributed to and is only directed at: (i) persons who are outside the United Kingdom; or (ii) investment professionals falling within Article 19(5) of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005 (as amended, the “Order”); or (iii) high net worth entities, or other persons to whom it may lawfully be communicated, falling within Article 49(2)(a) to (d) of the Order (all such persons together being referred to as “relevant persons”). The bonds will only be available to, and any invitation, offer or agreement to subscribe, purchase or otherwise acquire the bonds will be engaged in only with, relevant persons. Any person who is not a relevant person should not act or rely on this prospectus supplement or any of its contents.

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RISK FACTORS

This section describes certain risks associated with investing in the bonds. You should consult your financial and legal advisors about the risk of investing in the bonds. Colombia disclaims any responsibility for advising you on these matters.

Risk Factors Relating to the Bonds

The price at which the bonds will trade in the secondary market is uncertain.

Colombia has been advised by the underwriters that they intend to make a market in the bonds but are not obligated to do so and may discontinue market making at any time without notice. Application will be made to list the bonds on the official list of the Luxembourg Stock Exchange and to trade them on the Euro MTF Market of the Luxembourg Stock Exchange. Application will also be made to the London Stock Exchange for the bonds to be admitted to trading on the London Stock Exchange’s ISM. The ISM is not a regulated market for the purposes of MiFID II. No assurance can be given as to the liquidity of the trading market for the bonds. The price at which the bonds will trade in the secondary market is uncertain.

The bonds will contain provisions that permit Colombia to amend the payment terms without the consent of all holders.

The bonds will contain provisions regarding acceleration and voting on amendments, modifications and waivers which are commonly referred to as “collective action clauses.” Under these provisions, certain key terms of the bonds may be amended, including the maturity date, interest rate and other payment terms, without your consent. See “Description of the Securities—Meetings and Amendments—Collective Action Clause” in the accompanying prospectus.

Risk Factors Relating to Colombia

Colombia is a foreign sovereign state and accordingly it may be difficult to obtain or enforce judgments against it.

Colombia is a foreign sovereign state. As a result, it may not be possible for investors to effect service of process within their own jurisdictions upon Colombia or to enforce against Colombia judgments obtained in their own jurisdictions. See “Description of the Securities—Jurisdiction; Enforceability of Judgments” in the accompanying prospectus.

Certain economic risks are inherent in any investment in an emerging market country such as Colombia.

Investing in an emerging market country such as Colombia carries economic risks. These risks include economic instability that may affect Colombia’s economic results. Economic instability in Colombia and in other Latin American and emerging market countries has been caused by many different factors, including the following:

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Any of these factors, as well as volatility in the markets for securities similar to the bonds, may adversely affect the liquidity of, and trading markets for, the bonds. See “Forward-Looking Statements” in the accompanying prospectus. For further information on internal security, see “Recent Developments—Republic of Colombia”.

Colombia’s economy remains vulnerable to external shocks, including those that could be caused by future significant economic difficulties of its major regional trading partners or by more general “contagion” effects, which could have a material adverse effect on Colombia’s economic growth and its ability to service its public debt.

The mining sector (including oil) is a significant contributor to the Colombian economy and is a principal source of exports. The escalation of hostilities in the Middle East in February 2026 and subsequent developments have disrupted global oil supplies and contributed to significant volatility in oil prices. Continued or further hostilities could cause additional supply disruptions and price volatility. Oil prices are volatile and a significant decrease in oil prices would have a negative impact on Colombia’s economy.

The United States, Panamá, the European Union and India are Colombia’s first, second, third and fourth most important trading partners in terms of exports, respectively. For the eight-month period ended August 31, 2026, according to preliminary figures, exports to the United States, Panama, India and the European Union, accounted for 28.3%, 8.7%, 4.6% and 15.1% of total exports, respectively, compared to the same period of 2025, during which exports to the United States, Panama, India and the European Union, accounted for 30.4%, 6.9%, 3.8% and 12.8% of total exports, respectively. For more information, see “Economy—Gross Domestic Product,” “Monetary System—Foreign Exchange Rates and International Reserves” and “ —Interest Rates and Inflation” in Colombia’s annual report on Form 18-K for the year ended December 31, 2025, filed with the SEC on September 15, 2026 (including all exhibits thereto) (the “2025 Annual Report”).

On April 2, 2025, U.S. President Donald Trump announced new tariffs on imports into the United States. These tariffs include a “baseline” tariff of 10% on imports from many countries, including Colombia. The imposition of these tariffs may have significant adverse effects on global trade, which could have a material adverse effect on Colombia’s economy, trade balance, and key industries.

A significant portion of Colombia’s exports are directed to the United States, making it vulnerable to changes in U.S. trade policy. Higher tariffs could reduce demand for Colombia’s goods in the United States, disrupt supply chains, and lead to job losses in affected industries. Additionally, retaliatory measures by other nations could exacerbate economic uncertainty, impacting investor confidence and foreign direct investment, and countries facing even higher tariff rates could decide to sell excess products into the Colombian market, adversely affecting Colombian producers.

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The tariffs may also contribute to global trade tensions and volatility in currency markets, which could put pressure on exchange rates and inflation. If Colombia is unable to negotiate exemptions or mitigate the effects through alternative trade agreements, these factors could have a material adverse impact on Colombia’s economic growth and fiscal stability.

Emerging-market investment generally poses a greater degree of risk than investment in more mature market economies because the economies in the developing world are more susceptible to destabilization resulting from domestic and international developments.

A significant decline in the economies of any of Colombia’s major trading partners, such as the United States, the European Union or India could have a material adverse impact on Colombia’s balance of trade and adversely affect Colombia’s economic growth. In 2025, the United States accounted for 29.6% of Colombia’s total exports, Panama accounted for 7.3% of Colombia’s total exports, India accounted for 4.3% of Colombia’s total exports and the European Union accounted for 12.4% of Colombia’s total exports. A decline in United States or European Union demand for imports could have a material adverse effect on Colombian exports and Colombia’s economic growth. Continued outbreaks due to COVID-19 or a future pandemic and economic shutdown to combat such outbreaks in the United States and Europe could have a material adverse impact on Colombia’s exports and economic growth.

The occurrence of unusual weather conditions (such as “El Niño” or “La Niña”), earthquakes, epidemic or pandemic outbreaks (such as COVID-19), terrorist attacks, disruptive political events, including sanctions, embargoes and asset freezes, civil unrest, actual or threatened acts of war, escalation of current hostilities in the Middle East and elsewhere, including the current conflict between Russia and Ukraine, the recent U.S. military intervention in Venezuela and the capture of Nicolás Maduro, the ongoing conflicts in the Middle East or any other military or trade disruptions, may adversely impact Colombia’s economy by causing, among other things, political tensions with major trading partners, supply chain disruptions, market volatility, changes in commodity prices and shortages of raw materials. In addition, because international investors’ reactions to the events occurring in one emerging market country sometimes appear to demonstrate a “contagion” effect, in which an entire region or class of investments is disfavored by international investors, Colombia could be adversely affected by negative economic or financial developments in other emerging market countries. Colombia has been adversely affected by such contagion effects on a number of occasions, including following the 1997 Asian financial crisis, the 1998 Russian financial crisis, the 1999 devaluation of the Brazilian real, the 2001 Argentine financial crisis, the global economic crisis that began in 2008 and the COVID-19 pandemic. Similar developments can be expected to affect the Colombian economy in the future.

There can be no assurance that any crises such as those described above or similar events will not negatively affect investor confidence in emerging markets or the economies of the principal countries in Latin America, including Colombia. In addition, there can be no assurance that these events will not adversely affect Colombia’s economy and its ability to raise capital in the external debt markets in the future. See “Forward-Looking Statements” in the accompanying prospectus.

There can be no assurance that Colombia’s credit ratings will improve or remain stable, or that they will not be downgraded, suspended or cancelled by the rating agencies.

Colombia’s long-term public external indebtedness is currently rated by S&P Global Ratings (“S&P”), Moody’s Investors Services Inc. (“Moody’s”) and Fitch Ratings, Inc. (“Fitch”). On May 19, 2021, S&P downgraded Colombia’s long-term foreign currency rating from BBB- to BB+ and revised its outlook from negative to stable. On January 18, 2024, S&P affirmed Colombia’s long-term foreign currency rating at BB+ and revised its outlook from stable to negative. S&P affirmed the BB+ rating and negative outlook on January 23, 2025. On July 1, 2021, Fitch downgraded Colombia’s long-term foreign currency rating from BBB- to BB+ and revised its outlook from negative to stable. On March 6, 2025, Fitch affirmed Colombia’s long-term foreign currency rating at BB+ and revised its outlook from stable to negative. On December 16, 2025, Fitch downgraded

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Colombia’s long-term foreign currency rating from BB+ to BB and revised the outlook from negative to stable. From May 23, 2019, Moody’s rated Colombia with a Baa2 rating, until on June 27, 2024, Moody’s revised its outlook from stable to negative. On June 26, 2025, S&P downgraded Colombia’s long-term foreign currency rating to BB from BB+ and maintained its negative outlook. On the same day, Moody’s downgraded Colombia’s long-term foreign currency rating to Baa3 from Baa2 and revised the outlook from negative to stable. On April 8, 2026, S&P downgraded Colombia’s long-term foreign currency rating to BB- from BB, with a stable outlook. The recent downgrades to Colombia’s long-term foreign currency ratings by Moody’s, S&P and Fitch resulted in part from the suspension of the fiscal rule for three years and increased fiscal spending rigidities.

Ratings address the creditworthiness of Colombia and the likelihood of timely payment of Colombia’s long- term debt securities. Ratings are not a recommendation to purchase, hold or sell securities and may be changed, suspended or withdrawn at any time. Colombia’s current ratings and the rating outlooks currently assigned to it depend, in part, on economic conditions and other factors that affect credit risk and are outside the control of Colombia, as well as assessments of the creditworthiness of its productive state-owned enterprises.

There can be no assurances that Colombia’s credit ratings will be maintained or that they will not be downgraded, suspended or cancelled. Any credit rating downgrade, suspension or cancellation may have an adverse effect on the market price and the trading of the bonds.

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CERTAIN DEFINED TERMS AND CONVENTIONS

Currency of Presentation

Unless otherwise stated, Colombia has translated historical amounts into U.S. dollars (“U.S. dollars,” “dollars,” “$” or “U.S.$”) or pesos (“pesos,” “Colombian pesos” or “Ps.”) at historical average exchange rates for the period indicated. Translations of pesos to dollars have been made for the convenience of the reader only and should not be construed as a representation that the amounts in question have been, could have been or could be converted into dollars at any particular rate or at all.

ABOUT THIS PROSPECTUS SUPPLEMENT

You should read this prospectus supplement along with the accompanying prospectus attached hereto. Colombia is furnishing this prospectus supplement and the accompanying prospectus solely for use by prospective investors in connection with their consideration of a purchase of the bonds and for Luxembourg listing purposes.

Responsibility Statement

Colombia, having taken all reasonable care to ensure that such is the case, confirms that the information contained in this prospectus (which includes this prospectus supplement together with the accompanying prospectus) is, to the best of Colombia’s knowledge, in accordance with the facts and contains no material omission likely to affect its import. Colombia accepts responsibility accordingly.

INCORPORATION BY REFERENCE

The SEC allows Colombia to incorporate by reference some information that Colombia files with the SEC. Colombia can disclose important information to you by referring you to those documents. Any information referred to in this way is considered part of this prospectus supplement from the date Colombia files that document. Except for the purposes of Regulation (EU) 2017/1129 (the “Prospectus Regulation”), reports filed by Colombia with the SEC on or after the date of this prospectus supplement and before the date that the offering of the bonds by means of this prospectus supplement is terminated will automatically update and, where applicable, supersede any information contained in this prospectus supplement and the accompanying prospectus or incorporated by reference in this prospectus supplement and the accompanying prospectus. Colombia’s SEC filings are also available to the public from the SEC’s website at http://www.sec.gov.

Exhibit D to Colombia’s 2025 Annual Report is considered part of and incorporated by reference in this prospectus supplement and the accompanying prospectus.

Any person receiving a copy of this prospectus supplement may obtain, without charge and upon request, a copy of the above document (including only the exhibits that are specifically incorporated by reference in it). Requests for such document should be directed to:

Dirección General de Crédito Público y Tesoro Nacional

Ministerio de Hacienda y Crédito Público

Carrera 8, No. 6C-38, Piso 1

Bogotá D.C., Colombia

Telephone: 57-60- 1-381-2802 /57-60-1-381-4153

Fax: 57-60-1-381-2801/57-60-1-381-2102

You may also obtain copies of documents incorporated by reference, free of charge, at the office of the Luxembourg listing agent specified on the inside back cover of this prospectus supplement or from the website of the Luxembourg Stock Exchange at http://www.luxse.com.

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TABLE OF REFERENCES

For purposes of Commission Regulation (EC) No. 2019/980, any information not listed in the cross- reference table but included in the documents incorporated by reference is given for information purposes only:

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USE OF PROCEEDS

The net proceeds of the sale of the bonds will be approximately U.S.$     after deduction of the underwriting discount and of certain expenses payable by Colombia (which are estimated to be U.S.$    ). Colombia will use the net proceeds of the offering for general budgetary purposes.

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RECENT DEVELOPMENTS

This section provides information that supplements the information about Colombia contained in Colombia’s 2025 Annual Report, as it may be amended from time to time. To the extent the information in this section is inconsistent with the information contained in the 2025 Annual Report, as amended to date, the information in this section replaces such information. Capitalized terms not defined in this section have the meanings ascribed to them in the 2025 Annual Report, as amended to date.

Republic of Colombia

Internal Security

On September 30, 2026, the Colombian Attorney General’s Office and U.S. Homeland Security Investigations (HSI) signed an agreement to create a joint unit against transnational crime. The joint unit is designed to strengthen bilateral cooperation in intelligence sharing, judicial investigations, and operational strategies to dismantle transnational organized crime.

On October 3, 2026, President Abelardo De La Espriella reported security operation results from the preceding 24 hours, including 55 arrests, the seizure of 1,011 kilograms of cocaine, 24 firearms and Ps. 675 million in cash, the destruction of seven drug laboratories, and the neutralization of a member of the FARC dissident group (Structure 30) during a joint Navy and Army operation in Arenal, El Charco (Nariño).

On October 5, 2026, in a joint operation involving the National Army, the Aerospace Force, the National Police, and the Attorney General’s Office, Colombian Security Forces captured Wilmar Elías Zuleta Pulgarín, known by the alias “Lobo,” and his partner, known by the alias “Samanta,” in Antioquia. Zuleta Pulgarín, identified as one of the leaders of Structure 36 of the FARC dissidents under the command of alias “Calarcá”, was arrested for offences including extortion, kidnapping, homicide, forced displacement, and attacks against the security forces in northern Antioquia.

On October 8, 2026, President De La Espriella announced the cumulative operational results of the Armed Forces since he took office on August 7, 2026, which included 32,029 arrests, 135,515 kilograms of narcotics seized, and 3,414 firearms confiscated. Notable operations included the arrests of Clan del Golfo members in Meta and Antioquia, the captures of FARC dissidents in Caquetá, the interception of 32 packages of illegal substances in Vichada, and the dismantling of five coca paste laboratories.

On October 9, 2026, Colombian security forces captured Yovannys Chaverra Vargas, known as alias “Niño Potro,” in Nuquí, Chocó. Chaverra Vargas, an alleged leader of the Clan del Golfo wanted on charges related to transnational drug trafficking, was arrested pursuant to an extradition request issued by the United States District Court for the Eastern District of Texas on charges of drug trafficking and criminal conspiracy.

On October 12, 2026, President De La Espriella held a telephone conversation with U.S. Secretary of State Marco Rubio to discuss bilateral relations, security cooperation, and regional stability, highlighting mutual support and strategic partnership between Colombia and the United States.

On October 13, 2026, the Ministry of the Interior issued Decree 1525, updating the protocol for public demonstrations and police operations. The decree modifies Decree 003 of 2021 by establishing a five-tier framework for institutional action and allowing immediate police intervention against individuals committing acts of violence or maintaining road blockades without requiring prior dialogue.

Corruption Investigations

On September 30, 2026, the Attorney General’s Office revealed that the Mixed Fund for the Promotion of Infrastructure, Integral Development and Social Management (Fondo Mixto “Sierra Nevada”) was allegedly

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used to improperly direct royalty-funded contracts valued at approximately Ps. 3.2 trillion. The investigation led to judicial measures, including pretrial detention in prison facilities, against eight individuals associated with the fund’s management and contract allocation schemes.

On October 1, 2026, the Attorney General’s Office imposed precautionary measures for asset forfeiture linked to six individuals investigated in connection with the corruption scheme at the National Unit for Disaster Risk Management (the “UNGRD”).

On October 9, 2026, the Attorney General’s Office filed formal corruption charges against the current mayor and a former mayor of Ataco, Tolima, as well as a private contractor, regarding alleged procurement irregularities in a basic sanitation project valued at over Ps. 21.6 billion, financed through the General Royalty System.

On October 12, 2026, a court convicted a former official of the National Development Fund (“FONADE”) for favoring a specific proposal in an audit and supervision contract valued at over Ps. 16.0 billion. The judicial decision forms part of broader legal proceedings that have resulted in convictions of 13 other individuals, including public servants and two former senators.

On October 14, 2026, the Attorney General’s Office expanded corruption charges against Gustavo Bolaños Pastrana, founder of the Association of Municipalities of the Caribbean, for the alleged steering of 23 additional royalty-funded contracts. With this expansion, the ongoing investigation encompasses a total of 101 contracts valued at Ps. 496.0 billion.

Economic Policy, Public Finance, and Infrastructure

On October 6, 2026, the Government issued Decree 1490, amending Decree 2555 of 2010 to remove the 30% global cap on foreign asset investments for mandatory pension funds. The measure aims to optimize the risk-return profile of pension portfolios and enhance asset diversification options for Pension Fund Administrators.

On October 6, 2026, the Government issued Decree 1491, introducing regulatory measures to strengthen energy supply reliability during the 2026–2027 El Niño phenomenon. The decree permits thermal power plants, under their classification as Non-Intermediary Individual Large Consumers of diesel fuel, to source liquid fuels from multiple wholesale distributors in the event of operational or logistical supply constraints.

On October 6, 2026, the Government issued Decree 1493, regulating temporary utility subsidies for water, sewage, and waste management services covering up to six monthly billing cycles for Socioeconomic Strata 1, 2, and 3 households registered in the Official Disaster Victims Register following declared disasters.

On October 7, 2026 President De La Espriella announced the formal establishment and launch of Fondo Milagro, a reconstruction fund capitalized with an initial Ps. 1.0 trillion to manage public and private resources for infrastructure, housing, health, and education recovery following the August 10, 2026 earthquake. Managed by Jaime Uribe, the fund will operate under a board of directors comprising private sector leaders and government representatives.

On October 12, 2026, President De La Espriella sent an urgent message to Congress requesting the expedited approval of a Ps. 1.2 trillion budget reallocation within the 2026 national budget to mitigate power rationing risks and prevent potential blackouts stemming from the El Niño phenomenon.

On October 16, 2026, Minister of Foreign Affairs Omar Bula Escobar concluded a four-day official visit to Israel, culminating in a high-level meeting with President Isaac Herzog to formalize the re-establishment of diplomatic relations following the Government’s decision of August 11, 2026. Key outcomes of the visit

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included the official inauguration of the Embassy of Colombia in Jerusalem, the reinstatement of reciprocal visa exemption for tourism, and agreements to reactivate bilateral cooperation in security, defense, trade, investment, innovation, artificial intelligence, agriculture, and water management.

On October 23, 2026, President De La Espriella announced the signing of Decree 1585, which aims to reduce public spending by Ps. 13.8 trillion in 2026. The measure involves three main components: a Ps. 3 trillion reduction in operating expenses, primarily through cuts to service contracts and the elimination of unnecessary purchases; a Ps. 4 trillion reduction in debt service, attributed to a more favorable exchange rate; and a Ps. 6.8 trillion reduction in procurement expenditures that will not be executed or that, according to the President, do not align with national priorities.

Economy

Gross Domestic Product

According to preliminary figures, in the second quarter of 2026, real GDP grew 3.5% in relation to the same period of 2025. The economic activities that contributed most to this growth were public administration and defense, retail, and entertainment.

Employment and Labor

The following table presents national monthly average unemployment rates from January 2021 to August 2026, according to the methodology adopted by the National Department of Statistics of Colombia (“DANE”):

National Monthly Average Unemployment Rates

Notes:

N/A = not available.

Source: DANE.

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The following table presents the distribution of national employment by sector of the economy for the periods indicated in 2025 and 2026:

National Quarterly Employment Rates by Sector

Source: DANE. Calculations: Ministry of Finance.

On October 20, 2026, Congress approved the General National Budget (Presupuesto General de la Nación) for fiscal year 2027 totaling Ps. 634.9 trillion.

On October 22, 2026, the Government issued Executive Decree 1599 of 2026 enacting the General National Budget for fiscal year 2027 in the total amount of Ps. 634.95 trillion. The Government invoked Article 59 of the Organic Budget Statute (Estatuto Orgánico del Presupuesto) to adopt the proposed budget text, incorporating the modifications approved during the first legislative debate, after Congress failed to reconcile a procedural disagreement on a single article prior to statutory deadlines. Under the enacted budget text, total expenditure was allocated as follows: Ps. 391.38 trillion for operating expenses, Ps. 155.43 trillion for public debt service, and Ps. 88.14 trillion for public investment.

Foreign Trade and Balance of Payments

Balance of Payments

During the six-month period ended June 30, 2026, the country’s balance of payments current account registered a deficit of U.S.$5,981 million, U.S.$1,854 million higher than the deficit recorded in the same period of 2025. As a proportion of semi-annual GDP, the deficit is estimated at 2.3%, 0.3 percentage points (pp) higher than the estimated figure for the same period in 2025, mainly due to dollar-denominated growth of the current account deficit (0.8 pp), and partially offset by the effect of the appreciation of the Colombian peso against the U.S. dollar on the measurement of nominal GDP in dollars (0.3 pp) and by the effect of nominal GDP growth in pesos (0.2 pp).

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Geographic Distribution of Trade

The following tables show the destination and origin, respectively, of Colombia’s exports and imports for the years and periods indicated:

Merchandise Exports to Major Trading Partners

Totals may differ due to rounding.

Source: DANE and National Directorate of Customs and Taxes.

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Merchandise Imports by Major Trading Partners⁽¹⁾

Totals may differ due to rounding.

Source: DANE and National Directorate of Customs and Taxes.

During the eight-month period ended August 31, 2026, Colombia’s three major export partners (FOB) were the United States, Panama and India, representing 28.3%, 8.7% and 4.6% of Colombia’s total exports during such period, respectively.

During the six-month period ended June 30, 2026, Colombia’s three major import partners (FOB) were China, the United States and Brazil, representing 28.6%, 22.7% and 5.1% of Colombia’s total imports during such period, respectively.

Monetary System

Interest Rates and Inflation

On September 30, 2026, the Banco de la República decided to increase the discount rate by 25 basis points to 12.25%.

The 12-month change in the Consumer Price Index (“CPI”) as of September 30, 2026 was 6.29%.

As of September 30, 2026, the year-over-year Producer Price Index (“PPI”) increased by 2.20% compared to September 30, 2025, according to preliminary data, mainly due to an increase in prices in the Mining sector (6.38%) and the Agriculture, Livestock, and Fisheries sector (4.57%).

As of September 30, 2026, the monthly Fixed Term Deposit rate (“DTF”) was 10.25%.

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The following table shows changes in the CPI and the PPI and the average DTF rates for the periods indicated:

Inflation and Interest Rates

Source: DANE and Banco de la República.

Foreign Exchange Rates and International Reserves

Exchange Rates

The following table shows the average and end-of-period peso/dollar exchange rates and the Real Exchange Rate Index for the dates and periods indicated:

Exchange Rates

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Source: Superintendencia Financiera and Banco de la República.

International Reserves

As of September 30, 2026, gross international reserves increased by U.S.$1,401 million compared to September 30, 2025, reaching a total of U.S.$67,251 million.

As of October 15, 2026, the General Directorate of Public Credit and National Treasury had no active positions in swaps or forward contracts over foreign exchange.

Public Sector Debt

General

As of August 31, 2026, Central Government gross debt totaled Ps. 1,169,059 billion, equivalent to 60.6% of GDP, of which internal debt totaled Ps. 919,538 billion (47.7% of GDP) and external debt totaled Ps. 249,522 billion (12.9% of GDP).

Public Sector Internal Debt

As of August 31, 2026, the Central Government’s total direct internal funded debt (with an original maturity of more than one year) was Ps. 881,624,879 million, compared to Ps. 748,978,752 million as of August 31, 2025.

The following table shows the direct internal funded debt of the Central Government as of the provided periods, by type:

Central Government: Internal Public Funded Debt - Direct Funded Debt

Totals may differ due to rounding.

Source: Deputy Directorate of Risk - Ministry of Finance.

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The following tables show the total external funded debt of the public sector (with an original maturity of more than one year) by type and by creditor:

Public Sector External Funded Debt by Type⁽¹⁾

Source: Debt Database - Ministry of Finance.

Public Sector External Funded Debt by Creditor⁽¹⁾

Totals may differ due to rounding.

Source: Debt Database - Ministry of Finance

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Tables and Supplementary Information

Public Debt of the Republic of Colombia

External Public Debt

Direct Funded Debt⁽¹⁾

Bond Issues

Aggregate amounts may differ due to rounding.

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Source: Debt Database - Ministry of Finance.

Loans from Multilateral Institutions

Totals may differ due to rounding.

Source: Debt Database - Ministry of Finance.

Loans from Banks ⁽¹⁾

Totals may differ due to rounding.

Source: Debt Database - Ministry of Finance.

(2) Amount in millions of U.S. dollars.

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Other External Public Sector Debt

Guaranteed Debt and Non-Guaranteed Debt⁽¹⁾⁽²⁾

Totals may differ due to rounding.

Source: Debt Database - Ministry of Finance.

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Internal Public Debt

Direct Debt

Bond Issues and Banco de la República

Totals may differ due to rounding.

Source: Debt Registry Office—General Directorate of Public Credit—Ministry of Finance.

Internal Public Debt

Guaranteed Debt ⁽¹⁾

Source: Ministry of Finance.

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DESCRIPTION OF THE BONDS

This prospectus supplement describes the terms of the bonds in greater detail than the accompanying prospectus and may provide information that differs from the accompanying prospectus. If the information in this prospectus supplement differs from the accompanying prospectus, you should rely on the information in this prospectus supplement.

Colombia will issue the bonds under an indenture, dated as of January 28, 2015, as supplemented by the first supplemental indenture dated as of September 8, 2015, between Colombia and The Bank of New York Mellon, as trustee. The information contained in this section and in the accompanying prospectus summarizes some of the terms of the bonds and the indenture. Because this is a summary, it does not contain all of the information that may be important to you as a potential investor in the bonds. Therefore, you should read the indenture and the form of the bonds in making your investment decision. Colombia has filed copies of these documents with the SEC and also filed copies of these documents at the offices of the trustee and the paying agents.

General Terms of the Bonds

The bonds offered by this prospectus supplement will: