Instruction COSOB No. 23-01 of November 7, 2023 Fixing the Elements Constituting the File Attached to the Application for Approval of the Participative Investment Advisor

Instruction COSOB No. 23-01 of November 7, 2023 Fixing the Elements Constituting the File Attached to the Application for Approval of the Participative Investment Advisor

Article 1: This instruction aims to define the elements constituting the file to be attached to the application for approval of a Participative Investment Advisor, in application of Article 10 of COSOB Regulation No. 23-01 of 21 Ramadan 1444 corresponding to April 12, 2023, fixing the conditions for approval, exercise, and control of Participative Investment Advisors.

Art. 2. – The application of the Participative Investment Advisor is submitted to the Commission for the Organization and Supervision of Stock Exchange Operations (COSOB) by the applicant or their mandated representative according to the model attached as an annex to this instruction. It must be accompanied by a file comprising the following elements:

A. For the granting of provisional approval:

1. An application for approval (See Annex 01);
2. A registration form (See Annex 02);
3. A copy of the company's statutes;
4. If it is a subsidiary, attach a copy of the parent company's statutes;
5. For the general manager or managing director of the company (this measure concerns only commercial companies created to exercise this activity): 5.1. A criminal record (Bulletin No. 3); 5.2. A list of activities exercised in other companies as well as their capital and voting rights holdings; 5.3. A declaration of honorability, as defined by Instruction No. 16-02 of February 24, 2016, regarding the honorability conditions that the manager of the Stock Exchange Operations Intermediary - commercial company must meet.
6. For the person in charge of the Participative Investment Advisor activity: 6.1. A criminal record (Bulletin No. 3); 6.2. A copy of the certificate of success in the certification exam for financial market professionals or any other equivalent certificate recognized by COSOB. Failing that, a commitment by the applicant to meet this condition will suffice; 6.3. A copy of obtained diplomas.
7. Proof of designation of the financial service provider bank;
8. A draft of the adequacy test model for participants' objectives and their knowledge of the risks related to securities and financial products proposed to them;
9. A draft of the subscription form for participative investment projects;
10. A letter of commitment from the Participative Investment Advisor (See Annex 03).

B. For the granting of definitive approval:

1. Proof of the online launch of the platform by a host located in Algeria;
2. A certificate of encryption of communications and data security of the Transport Layer Security (TLS) or Secure Sockets Layer (SSL) type, currently valid.

Art. 3. – This instruction enters into force as of the date of its signature.

Done in Algiers, on November 7, 2023 Youcef BOUZENADA

Annex 01 Application for Approval of Participative Investment Advisor Application for Approval (Commercial Company / Stock Exchange Operations Intermediary / Investment Fund Management Company) Name: ..................................................... Registered Office: ........................................................ Tel: ........................ Fax: ...................................... Email: …………………………………………. Place and Date: …………………………………………….. To the President of the Commission for the Organization and Supervision of Stock Exchange Operations -COSOB- Subject: Application for Approval of Participative Investment Advisor

I/We, the undersigned, Mr. ……………………. legal representative of the company ……………………., hereby request your high authority to examine our application for approval mentioned above, in accordance with the provisions of Regulation No. 23-01 of April 12, 2023, relating to the conditions for approval, exercise, and control of Participative Investment Advisors.

We attach hereto the documents provided for by Article 02 of COSOB Instruction No. 23-01 of November 7, 2023, fixing the elements constituting the file attached to the application for approval of the Participative Investment Advisor.

Signature of the Manager

Annex 02 Participative Investment Advisor Registration Form

1. General Information: 1.1. The Company: Name or Corporate Name: Share Capital: Registered Office: Tel: Fax: Email: Main Corporate Purpose: Date of Creation: Connected and Compatible: 1.2. The Founders: Name & Surname or Corporate Name Activity Address 1.3. The Managers: Name & Surname Role Other Functions 1.4. The Statutory Audit of the Company (Statutory Auditors): Name & Surname Address No. Tel/Fax Term of Office 1.5. The Share Capital of the Company:

The amount of share capital Amount subscribed Amount paid up 1.6. The Distribution of Capital: Shareholders Amount % of the company's capital Nature of Contribution (Cash/In-kind) 2. Brief Description of the Activity: Provide a brief description of the activity targeted by the Participative Investment Advisor. 3. Organization of the Company: 3.1. The Person in Charge of the Participative Investment Advisor Activity: Name: First Name: Tel: Email: Function: Diploma: Professional Experience: 3.2. The Human Resources Planned: Category Number Function Executives Supervisory Staff Operational Staff 3.3. The Material Resources Planned: Nature of Premises Description Ownership/Lease

Communication Means IT Tools 3.4. The Security Device Protection of Premises IT Security 4. Objectives and Medium-Term Strategy A description of the objectives set for the medium term and the adopted strategy. NB: The company may provide other information elements that it deems useful.

Annex 03 Letter of Commitment Letter of Commitment (Commercial Company / Stock Exchange Operations Intermediary / Investment Fund Management Company) Name: ...................................... Registered Office: ......................................... Tel. / Fax: ............................................... Email: …………………………………………. Place and Date: ....................……….. To the President of the Commission for the Organization and Supervision of Stock Exchange Operations -COSOB- Subject: Letter of Commitments

In addition to our application for approval as a Participative Investment Advisor and in accordance with Instruction 23-01 of November 7, 2023; we, the undersigned, commit to:

• respect the current regulations;
• launch a participative investment advisory platform within a maximum period of 12 months;
• subscribe to civil liability insurance covering risks related to the activity of Participative Investment Advisor;
• put in place an internal control and compliance device, adapted to the volume of the activity;
• obtain the certificate of success in the certification exam related to the training of financial market professionals.

Signature of the Manager