Circular CAMEX 1-1049: Foreign Trade and Exchange. Adjustments.

. "Year of the Reconstruction of the Argentine Nation" "Year of the Reconstruction of the Argentine Nation"COMMUNICATION "A" 8296 08/07/2025TO FINANCIAL ENTITIES,TO EXCHANGE HOUSES:Ref.: CircularCAMEX 1-1049:Foreign Trade and Exchange. Adjustments.___________________________________________________________________________We address you to inform you that this Institution has adopted the following resolution:1. Establish that clients who enter and liquidate in the foreign exchange market, as of 08/08/25, new export pre-financings with an average life of not less than 3 (three) years that include at least 1 (one) year of grace for capital payment or alternatively an average life of not less than 2 (two) years with 18 (eighteen) months of grace for capital payment and that have been granted by foreign financial entities or by local financial entities with funding from foreign credit lines, may:1.1. accumulate funds originating from the collection of goods and services exports of the debtor in foreign currency accounts opened in local financial entities or abroad intended to guarantee the cancellation of the maturities of said pre-financing as provided in the financing contract.This option will be available until reaching 125% (one hundred twenty-five percent) of the capital and interest services to be paid in the current month and the following 6 (six) calendar months, in accordance with the payment schedule of the services agreed with the creditors, with any excess funds having to be entered and liquidated in the foreign exchange market within the deadlines provided in the general regulations on the matter.In the event that the date until which collections must remain deposited by virtue of what is required in the financing contract is after the expiration of the term for the liquidation of foreign currency, the exporter may request that this term be extended until the fifth business day after said date.1.2. access the foreign exchange market under the terms provided in point 3.11.3. of the consolidated text on Foreign Trade and Exchange for the purchase of foreign currency for the constitution of guarantees in foreign currency accounts opened in local financial entities or abroad intended to guarantee the cancellation of the maturities of said pre-financing as provided in the financing contract.2. The local financial entity that monitors the export pre-financings for which the exporter opts to use the mechanisms indicated in point 1. must:2.1. certify compliance with the eligibility conditions of the financing operations to which the foreign currency will be applied,-2-2.2. have a sworn declaration from the client stating that prior approval from the Central Bank of the Argentine Republic will be necessary for the application of foreign currency prior to the maturity dates that allowed compliance with the conditions required for the operation's inclusion in this mechanism,2.3. monitor the shipping permits whose collections are kept abroad in
accordance with the provisions of this regulation, and2.4. monitor the guarantees constituted and the special accounts that are established.3. Incorporate among the operations enabled to apply collections from exports of goods and services within the framework of the mechanism provided in point 7.9. of the consolidated text on Foreign Trade and Exchange, new financial debts that fall under point 3.5. of the aforementioned regulation, have an average life of not less than 2 (two) years and at least 18 (eighteen) months of grace for capital payment and are entered and liquidated in the foreign exchange market as of 08/08/25.Likewise, we inform you that we will subsequently send you the pages that, replacing those previously provided, should be incorporated into the reference regulations.Sincerely yours,CENTRAL BANK OF THE ARGENTINE REPUBLICOscar C. Marchelletta Marina OngaroPrincipal Manager ofForeign Trade and ExchangeDeputy General Manager ofFinancial Regulation