General Resolution SMV No. JD-1-21 Extending the Deadline for Submission of the AML/CFT Self-Assessment Questionnaire

Promulgated in the Official Gazette No. 29224 of February 22, 2021. 1 REPUBLIC OF PANAMA BOARD OF DIRECTORS SECURITIES MARKET SUPERINTENDENCE General Resolution SMV No. JD-1-21 Of February 10, 2021

"Which extends, in a special manner and only for this time, the deadline for the submission of the 'Questionnaire for Self-Assessment of Prevention of Money Laundering, Terrorism Financing and Financing of the Proliferation of Weapons of Mass Destruction', to be submitted by financial obligated subjects to the Securities Market Superintendence, whose original submission date expires on March 31, 2021"

The Board of Directors of the Securities Market Superintendence,

in the exercise of its legal powers, and

CONSIDERING:

That Law 67 of September 1, 2011, reformed Decree-Law 1 of July 8, 1999, and created the Securities Market Superintendence as an autonomous state body, with legal personality, own assets, and administrative, budgetary, and financial independence.

That the Board of Directors, in accordance with articles 5, 6, 10 (items 1, 5, and 20), 19, and 20 of the Single Text of the Securities Market Law, acts as the Highest Consultative, Regulatory, and Policy-Setting Body of the Superintendence and has among its attributes: to adopt, reform, and revoke agreements that develop the provisions of the Securities Market Law, as well as to issue resolutions of general application, which must be published in the Official Gazette and shall enter into force from their promulgation, unless the Board of Directors establishes another date.

That Law 23 of April 27, 2015, regarding measures for the prevention of money laundering, terrorism financing, and financing of the proliferation of weapons of mass destruction, establishes the Securities Market Superintendence as the Supervisory Body in charge of the financial obligated subjects determined in article 22, item 2, of the aforementioned Law.

That Law 23 of April 27, 2015, was regulated through Executive Decree 363 of August 13, 2015, and the latter, in its article 26, determines that the provisions of the aforementioned Executive Decree do not prevent, additionally, the Supervisory Bodies from adopting agreements, resolutions, and other measures for their respective obligated subjects on the matter.

That, in this sense and through Agreement 06-2015 of August 19, 2015, the Superintendence issued provisions applicable to the financial obligated subjects under its supervision. Subsequently, for the supervision of the activities of financial obligated subjects, through Agreement 2-2019 of August 21, 2019^1, the Superintendence adopted the reports known as: "Questionnaire for Self-Assessment of Prevention of Money Laundering, Terrorism Financing and Financing of the Proliferation of Weapons of Mass Destruction" and "Financial Obligated Subject Operational Information Questionnaire", the submission of which is the responsibility of the financial obligated subjects.

That the Superintendence is advancing a technological project, aimed at automating the receipt and review of the aforementioned questionnaires, integrating them into the Electronic System for the Submission of Information (SERI), implemented by the Superintendence for the supervision of its regulated entities in matters of the securities market, such that, once the aforementioned technological project is completed, it will benefit the fulfillment of the reporting duty to the Superintendence by financial obligated subjects, strengthen the security of the reported information, and provide greater efficiency in the supervisory work by this Supervisory Body, in matters of measures for the prevention of money laundering, terrorism financing, and financing of the proliferation of weapons of mass destruction.

^1 Article four of Agreement 2-2019 of August 21, 2019, promulgated in the Official Gazette 28852-B of September 3, 2019.

Promulgated in the Official Gazette No. 29224 of February 22, 2021. 2

That the aforementioned technological project is in an advanced stage; however, the deadline for the submission of the "Questionnaire for Self-Assessment of Prevention of Money Laundering, Terrorism Financing and Financing of the Proliferation of Weapons of Mass Destruction" is approaching, therefore, within the Superintendence, it was brought to the consideration of the Board of Directors, which decided the convenience of extending, in a special manner, the deadline for the submission of the aforementioned questionnaire, whose original presentation date expires on March 31, 2021, in such a way that the necessary training is provided in a timely manner to financial obligated subjects, on the implementation of the new mechanism or means of presentation of the aforementioned reports.

In merit of the foregoing, the Board of Directors of the Securities Market Superintendence, in the exercise of its legal powers,

RESOLVES:

ARTICLE FIRST: EXTEND, in a special manner and only for this time, until May 17, 2021, the deadline for the submission of the "Questionnaire for Self-Assessment of Prevention of Money Laundering, Terrorism Financing and Financing of the Proliferation of Weapons of Mass Destruction", by financial obligated subjects to the Securities Market Superintendence, whose original submission date expires on March 31, 2021.

ARTICLE SECOND: VALIDITY. This resolution shall enter into force from its promulgation in the Official Gazette.

LEGAL BASIS: articles 3, 5, 6, 10 (items 18 and 20), 19, 20, and concordant articles of the Single Text of the Securities Market Law. Article 26 of Executive Decree 363 of August 13, 2015. Article 46 of Law 38 of July 31, 2000.

LET IT BE COMMUNICATED, PUBLISHED, AND COMPLIED WITH,

(signed) (signed) Eduardo Lee Luis Chalhoub President of the Board of Directors Secretary of the Board of Directors. /aatencio.