COSOB Instruction No. 25-08 of November 30, 2025, Setting the Procedures for Authorization to Exercise the Activity of Title Safekeeping Account Management

The People's Democratic Republic of Algeria 1 Commission for the Organization and Supervision of Stock Market Operations – COSOB - COSOB Instruction No. 25-08 of November 30, 2025, Setting the Procedures for Authorization to Exercise the Activity of Title Safekeeping Account Management

Article 1. — In application of Article 6 of COSOB Regulation No. 03-02 of 15 Moharram 1424 corresponding to March 18, 2003, relating to the keeping of title safekeeping accounts, this instruction aims to set the procedures for authorization to exercise the activity of title safekeeping account management.

Art. 2. — Authorization to exercise the activity of title safekeeping account management is subject to the prior submission of an authorization request by the requesting establishment to the Commission for the Organization and Supervision of Stock Market Operations, hereinafter referred to as "the Commission," in accordance with the model attached as Annex (1) to this instruction.

This request must be accompanied by the constituent elements of the file as follows:

• a form established according to the model attached as Annex (5), duly filled out and signed by the activity manager as well as by (2) two persons in charge of the title safekeeping account management activity, designated by the establishment requesting authorization;
• a letter of commitment conforming to the model attached as Annex (3) and duly signed by the director(s) of the establishment requesting authorization;
• a letter duly signed by the director(s) of the requesting establishment designating the activity manager as well as the (2) two persons in charge of the title safekeeping account management activity;
• a certified true copy of the current statutes of the establishment requesting authorization; The Commission may request any other document it deems necessary for the processing of the file.

For the activity manager and/or the persons in charge of the title safekeeping account management activity: • an authorization request specifying the activity manager and/or the person in charge of title safekeeping account management; • a birth certificate extract; • a criminal record extract No. 3; • a certified true copy of obtained diplomas; • a copy of the certificate of success in the exam certified by the Commission relating to the training of financial market professionals. Failing this, a letter of commitment attached as Annex (7) must be signed by the applicant and the manager or person in charge of the activity to meet this condition, unless a derogation is granted by the Commission; • a work certificate; • a CV detailing professional experience;

2 • a recent passport-size photo; • the form in Annex 6 duly filled out. The Commission may request any other document it deems necessary for the processing of the request.

After processing the file of the activity manager and/or the person in charge of the title safekeeping account management activity, the Commission assigns the candidate(s) to the central securities depository to undergo training focused on the activity of title safekeeping account management, unless a derogation is granted by the Commission.

Art. 3. — When the applicant is a legal entity referred to in the second paragraph, second dash of Article 3 of COSOB Regulation No. 03-02 of 15 Moharram 1424 corresponding to March 18, 2003, mentioned above, a request for authorization to exercise the activity of title safekeeping account management is addressed to the Commission according to the model attached as Annex (2).

This request, to which is attached a letter of commitment conforming to the model in Annex (4) and duly signed by the director(s) of the requesting establishment, is accompanied by a precise description of the conditions and procedures under which the applicant intends to exercise the activity of title safekeeping account management, in accordance with the provisions contained in the specifications of the title safekeeping account manager.

Art. 4. — The Commission verifies whether the requesting establishment satisfies the obligations provided for in COSOB Regulation No. 03-02 of 15 Moharram 1424 corresponding to March 18, 2003, mentioned above and in the specifications of the title safekeeping account manager.

The submission of the authorization file is attested by a receipt duly dated and signed by the Commission.

Art. 5. — Any modification, subsequent to authorization, relating to the title safekeeping account management activity affecting:

• the category of titles kept,
• the conditions for exercising the activity: for own account, for third-party account, for OPCVM account as well as for account of other title safekeeping account managers,
• relations with an agent: use of one or more agents, change of agent,
• the identity of the activity manager and/or the persons in charge of the title safekeeping account management activity, and
• all elements communicated in the authorization file.

These modifications must be declared to the Commission at least one (1) month before their entry into force. The Commission examines the envisaged modifications and their potential consequences on the authorization. It rules within a period of one (1) month from the receipt of the declaration and notifies its decision to the applicant.

Art. 6. — This instruction cancels and replaces COSOB Instruction No. 03-01 of December 21, 2003, setting the authorization procedures for title safekeeping account managers.

Art. 7. — This instruction enters into force as of the date of its signature.

Made in Algiers, on November 30, 2025 Youcef BOUZENADA

3 ANNEXE (1) AUTHORIZATION REQUEST FOR THE EXERCISE OF THE ACTIVITY OF TITLE SAFEKEEPING AND ACCOUNT MANAGEMENT

Name: ………………………………… Legal Name: ..................................................... Legal Form ………………………………. Registered Office: ………............................................ Phone/Fax: ................………............. Email: ………………………………………. Place and Date: ………………………………………

Mr. The President of the Commission for the Organization and Supervision of Stock Market Operations - COSOB

Subject: Authorization request for the exercise of the activity of title safekeeping and account management

We )1( ....................................acting as )2( ..................................at (3)………. ………………………….., requesting authorization to exercise the activity of title safekeeping and account management, in accordance with the provisions of COSOB Regulation No. 03-02 of 15 Moharram 1424 corresponding to March 18, 2003, relating to title safekeeping account management.

We attach the documents provided for by COSOB Instruction No. 25-08 of November 30, 2025, setting the authorization procedures for the exercise of the title safekeeping account management activity.

Signature

(1) Name of the applicant; (2) Capacity of the applicant; (3) The name of the establishment requesting authorization.

4 ANNEXE 2 AUTHORIZATION REQUEST FOR THE EXERCISE OF THE ACTIVITY OF TITLE SAFEKEEPING AND ACCOUNT MANAGEMENT

Name: ………………………………… Legal Name: ..................................................... Legal Form ………………………………. Registered Office: ………............................................ Phone/Fax: ................………............. Email: ………………………………………. Place and Date: ………………………………………

Mr. The President of the Commission for the Organization and Supervision of Stock Market Operations - COSOB

Subject: Authorization request for the exercise of the activity of title safekeeping and account management

We )1( ....................................acting as )2( ..................................at (3)………. ………………………….., requesting authorization to exercise the activity of title safekeeping and account management, in accordance with the provisions of COSOB Regulation No. 03-02 of 15 Moharram 1424 corresponding to March 18, 2003, relating to title safekeeping account management.

We attach the documents provided for by COSOB Instruction No. 25-08 of November 30, 2025, setting the authorization procedures for the exercise of the title safekeeping account management activity.

Signature

(1) Name of the applicant; (2) Capacity of the applicant; (3) The name of the establishment requesting authorization.

ANNEXE 3 LETTER OF COMMITMENT (1)

Name: ………………………………… Legal Name: ..................................................... Legal Form ………………………………. Registered Office: ………............................................ Phone/Fax: ................………............. Email: ………………………………………. Place and Date: ………………………………………

Mr. The President of the Commission for the Organization and Supervision of Stock Market Operations - COSOB

Subject: Letter of commitment

In the context of the authorization request for the exercise of the activity of title safekeeping and account management in accordance with the provisions of COSOB Regulation No. 03-02 of 15 Moharram 1424 corresponding to March 18, 2003, relating to title safekeeping account management, (2) …………………………………………….. commits to:

1. guarantee management independence between the title safekeeping account management activity and other activities;
2. respect current legislation and regulations;
3. respect the specifications established by COSOB Instruction No. 03-02 of December 21, 2003, establishing the specifications for title safekeeping account managers;
4. respect the ethical rules imposed on market operators, established by the Commission for the Organization and Supervision of Stock Market Operations;
5. facilitate the missions of COSOB agents carried out within the framework of the provisions of Article 37 of Legislative Decree 93-10 of May 23, 1993, modified and supplemented, relating to the securities exchange.

Signature

(1) Legal entities referred to in the first paragraph of Article 3 of COSOB Regulation No. 03-02 of 15 Moharram 1424 corresponding to March 18, 2003, relating to title safekeeping account management; (2) Name of the establishment requesting authorization.

ANNEXE 4 LETTER OF COMMITMENT (1)

Name: ………………………………… Legal Name: ..................................................... Legal Form ………………………………. Registered Office: ………............................................ Phone/Fax: ................………............. Email: ………………………………………. Place and Date: ………………………………………

Mr. The President of the Commission for the Organization and Supervision of Stock Market Operations - COSOB

Subject: Letter of commitment

In the context of the authorization request for the exercise of the activity of title safekeeping and account management in accordance with the provisions of COSOB Regulation No. 03-02 of 15 Moharram 1424 corresponding to March 18, 2003, relating to title safekeeping account management, (2) …………………………………………….. commits to:

1. guarantee management independence between the title safekeeping account management activity and other activities;
2. respect current legislation and regulations;
3. respect the specifications established by COSOB Instruction No. 03-02 of December 21, 2003, establishing the specifications for title safekeeping account managers.

Signature

(1) Legal entities referred to in the second paragraph, second dash of Article 3 of COSOB Regulation No. 03-02 of 15 Moharram 1424 corresponding to March 18, 2003, relating to title safekeeping account management; (2) Name of the establishment requesting authorization.

ANNEXE 5 AUTHORIZATION FORM FOR THE EXERCISE OF THE ACTIVITY OF TITLE SAFEKEEPING AND ACCOUNT MANAGEMENT

The person(s) in charge of preparing the authorization file Name & Surname Function Phone Number Email Signature

The activity manager and the persons in charge of the title safekeeping account management activity Name & Surname Function Phone Number Email Signature

Place and Date: ……………………………………… Signature

I- IDENTITY OF THE APPLICANT Capacity: (Specify the category of the establishment requesting authorization to exercise the title safekeeping account management activity) ……………………………………………………………………………………………………………….. General Information Elements: Name: ............................................................. Corporate Purpose: .................................................................. Legal Form: .......................................................... Registered Office: ................................................................. Tel/fax: ............................................................................ Directors: Name & Surname Capacity Other Functions Capital: Amount: .............................................................................................. Nature of shares representing the capital: .............................................. Distribution (1): Shareholders (Name & Surname or Legal Name) Amount % of capital

1. If the company is a subsidiary, attach information about the parent company. • Capital contributions in kind: • Capital contributions in cash:

II- CONDITIONS OF EXERCISE AND CONTROL OF THE ACTIVITY • Description of the activity: Indicate:

• the titles kept;
• if the activity will be exercised for own account and/or for the account of OPCVM and/or for third-party account; if the activity will be exercised: — for the account of other title safekeeping account managers, as an agent — for the account of authorized stock market intermediaries; — for the account of issuing legal entities, for the safekeeping account management of the titles they issue. • Procedures for exercising the activity: Indicate:
• if the activity will be exercised through recourse to one or more agents (attach draft mandates as well as the evaluation of means and procedures implemented and risks incurred);
• if membership with one or more central depositories is envisaged (explain); • Human Resources: Indicate:
• total number of staff;
• number of staff dedicated to the title safekeeping account management activity. Number Function/Post Qualifications Management Supervision Execution
• describe the organizational chart of different posts and functions;
• describe the annual training plan for personnel. • Technical, Accounting, and IT Means: 1- technical and IT means:
• description of the structure in charge of the title safekeeping account management activity (department, direction or other), hierarchical attachment, description of different functions and required posts;
• description of offices (number, area, equipment …).
• IT and communication means: — describe the information processing system (access / security / data retention / document production) — software (level of automation / information volume / processing reliability / IT incident risks / self-control capabilities / backup plan in case of incident…) — computers: number, characteristics,… — telephones and fax — describe the measures for protecting client assets; 2 - describe in an appropriate document the organization of securities accounting; 3 - specify the mode of organization of external segregation of assets or the measures envisaged in this regard; 4 - describe the internal control procedures for the title safekeeping account management activity; 5- describe the order transmission circuit from the requesting establishment.

III- OBJECTIVES AND STRATEGY FOR MEDIUM AND LONG TERM () …………………………………………………………………………………… …………………………………………………………………………………… …………………………………………………………………………………… …………………………………………………………………………………… …………………………………………………………………………………… () The requesting establishment must further specify if it intends to exercise other activities related to stock market intermediation and at what period it envisages doing so. NB: Possibility to provide other information elements that may seem useful.

11 ANNEXE 6 FORM (*) 1-Candidate Capacity: Activity Manager Person in charge of the activity ▪ Name and Surname: ▪ Date of Birth: ▪ Address: 2-Name of the establishment requesting authorization Name: Registered Office: 3 – Academic Background: Diploma Institution Date of Obtention 4- Specialized Training, Internships, and Seminars in Title Professions Title Institution Date and Duration Give an overview of the nature of the teachings followed ............................................................................................................................................................................ ............................................................................................................... 5- Professional Experience Post Institution Date and Duration Place and Date …………………………… Signature

This form must be duly filled out and signed by the activity manager and/or the persons in charge of the title safekeeping account management activity.

12 ANNEXE 7 Letter of Commitment (1) Place and Date....................……….. Mr. the President of the Commission for the Organization and Supervision of Stock Market Operations -COSOB

Subject: Letter of commitment

In complement to our authorization request as (2)………………………………………… in accordance with Instruction 25-08 of November 30, 2025, setting the authorization procedures for the exercise of the title safekeeping account management activity; we, the undersigned, commit to:

• the obtaining of the certificate of success in the exam certified by the Commission relating to the training of financial market professionals by ……………………..………………….

Signature of Applicant Signature of Manager or Person in Charge of the Concerned Activity

(1) Commitment to be signed by the applicant and the activity manager or the person in charge of the title safekeeping account management activity, (2) Capacity of authorization: activity manager / person in charge of the activity.