Accounting Manual for Asset Securitization Companies

THE STANDARDS COMMITTEE OF THE CENTRAL RESERVE BANK OF EL SALVADOR,

CONSIDERING:

I. That by Legislative Decree No. 470, of November 15, 2007, published in Official Diary No. 235, Volume 377, of December 17 of the same year, the Asset Securitization Law was approved.

II. That Article 24, letter c) of the Asset Securitization Law establishes that it shall be the responsibility of the Securitization Company to maintain separate accounting for each Securitization Fund it constitutes, independent of the accounting corresponding to the Securitization Company.

III. That Article 4, letter c) of the Law on Supervision and Regulation of the Financial System establishes that the Superintendence of the Financial System has among its powers to carry out individual and consolidated supervision of the members of the financial system, as well as the supervision of other regulated subjects.

IV. That Article 7, letter q) of the Law on Supervision and Regulation of the Financial System establishes that Securitization Companies are subject to the provisions of said Law and therefore to the supervision of the Superintendence of the Financial System.

V. That Article 35, letter f) of the Law on Supervision and Regulation of the Financial System establishes that it is the obligation of the supervised to provide adequate accounting disclosure of the economic and financial reality, and to have the backing of their internal and external audits.

VI. That Article 99, letter c) of the Law on Supervision and Regulation of the Financial System establishes that it corresponds to the Standards Committee of the Central Reserve Bank to approve the Technical Standards for the preparation, presentation, and disclosure of Financial Statements and supplementary information of the members of the financial system; to determine the accounting obligations and the principles in accordance with which they must keep their accounting; and to establish criteria for the valuation of assets, liabilities, and the creation of provisions and reserves for risks.

VII. That in accordance with Article 101, fourth paragraph of the Law on Supervision and Regulation of the Financial System, the powers to approve, modify, and repeal technical standards that must be complied with by the members of the financial system and other supervised entities are transferred to the Central Reserve Bank of El Salvador.

THEREFORE,

by virtue of the regulatory powers conferred upon it by Article 99 of the Law on Supervision and Regulation of the Financial System,

AGREES to issue the following:

ACCOUNTING MANUAL FOR ASSET SECURITIZATION COMPANIES

CONTENTS

CHAPTER I
GENERAL PROVISIONS
Comprises the general application provisions in the recording of operations of Asset Securitization Companies.

CHAPTER II
FINANCIAL STATEMENTS TO BE SUBMITTED TO THE SUPERINTENDENCE OF THE FINANCIAL SYSTEM AND FOR PUBLICATION Comprises the provisions relating to the submission of financial statements to the Superintendence of the Financial System, the publication thereof, and other provisions.

CHAPTER III
CHART OF ACCOUNTS
Comprises the list of accounts provided for the accounting of the respective operations.

CHAPTER IV
APPLICATION MANUAL
Comprises the description of the concept of the accounts and the main applications by which they will be affected.

CHAPTER V
FINANCIAL STATEMENTS
Includes the models of Financial Statements.

CHAPTER VI
OTHER PROVISIONS AND EFFECTIVE DATE
Comprises provisions corresponding to sanctions, repeals, unforeseen aspects, and effective date.

CHAPTER I
GENERAL PROVISIONS

A. OBJECTIVE
The purpose of this Accounting Manual is to provide Asset Securitization Companies with the Technical Accounting treatment that allows for the application of International Financial Reporting Standards, regarding the uniform recording of their transactions, preparation and presentation of their Financial Statements, and disclosure of their notes, thus providing a useful instrument for the analysis of information and decision-making by Shareholders, Administrators, the public using the services, the Superintendence of the Financial System, and other interested parties.

B. APPLICATION

This document and the provisions contained herein shall be applied by all entities authorized to operate as Asset Securitization Companies.
The accounts contained in the Manual do not imply authorization to carry out the operations to which they refer; entities must adhere to the current legal and regulatory standards.
Asset Securitization Companies may not use new accounts, sub-accounts, and sub-sub-accounts without prior written authorization from the Central Reserve Bank, through its Standards Committee. However, they may open additional detail accounts to those established in the Chart of Accounts, from the eighth and ninth digits, to the degree and detail they consider necessary for better recording and control of their operations.
To incorporate additional detail accounts or accounts with more digits in the Chart of Accounts, intended to identify banking entities, Stockbrokerage Houses, and entities specialized in securities custody, the codes and denominations established by the Central Reserve Bank, through its Standards Committee, must be used.
Asset Securitization Companies must submit the monthly trial balance electronically, with the main accounts and all corresponding sub-accounts, down to the last level of information, as well as the Commissions charged by the asset securitization company to each of the funds, in accordance with what is established in letter D of Chapter II of this Accounting Manual.

C. STRUCTURE, CODIFICATION, AND DENOMINATION

DEFINITION OF COMPONENTS OF THE CHART STRUCTURE

a.- The Chart has been structured based on a decimal coding system, with an account denomination that contemplates different levels of aggregation, distinguishing:
Element: Identified by the first digit
Section: Identified by the first two digits
Account: Identified by the first three digits
Sub-account: Identified by the first four digits Sub-sub-account: Identified by the first seven digits Detail: Identified by the first nine digits

ACCOUNTING ELEMENTS
The elements defined within the structure are associated with the rights, obligations, and equity of Asset Securitization Companies, and changes in such elements. The established elements are presented below:

CODE DESCRIPTION
1 ASSET
2 LIABILITY
3 EQUITY
4 EXPENSES
5 INCOME
6 CONTINGENT COMMITMENTS AND DEBIT CONTROL
7 CONTINGENT COMMITMENTS AND CREDIT CONTROL

SECTION OF GROUPING
Identified by the second digit, starting from one (1), such sections are detailed below:

CODE DESCRIPTION
1 ASSET
11 CURRENT ASSET
12 NON-CURRENT ASSET
2 LIABILITY
21 CURRENT LIABILITY
22 NON-CURRENT LIABILITY
3 EQUITY
31 CAPITAL

CODE DESCRIPTION
32 CAPITAL RESERVES
33 REVALUATIONS
34 RESULTS
35 RESTRICTED EQUITY
36 OPTIONS ON SHARE-BASED PAYMENTS
4 EXPENSES
41 OPERATING COSTS
42 FINANCIAL EXPENSES
43 EXTRAORDINARY EXPENSES
44 INCOME TAX
5 INCOME
51 OPERATING INCOME
52 FINANCIAL INCOME
53 EXTRAORDINARY INCOME
6 CONTINGENT COMMITMENTS AND DEBIT CONTROL
61 DEBIT CONTINGENT COMMITMENT ACCOUNTS
62 DEBIT CONTROL ACCOUNTS
7 CONTINGENT COMMITMENTS AND CREDIT CONTROL
71 CREDIT CONTINGENT AND COMMITMENT ACCOUNTS
72 CREDIT CONTROL ACCOUNTS

GENERAL LEDGER ACCOUNTS
Group homogeneous nature economic events, identified by the third digit starting with zero (0), allowing a maximum of ten accounts to be grouped per section of the accounting elements. An example of account codification is presented below:

CODE DESCRIPTION
110 CASH AND CASH EQUIVALENTS
111 BANKS AND NON-BANK FINANCIAL INTERMEDIARIES 112 RESTRICTED AVAILABLE FUNDS

SUB-ACCOUNTS
Identified by the fourth digit, they represent aggregations of economic events that provide valuable financial information, coded from the zero (0) digit, allowing up to ten sub-accounts to be generated from the general ledger account. An example of codification is presented below:

CODE TYPE DESCRIPTION
110 ACCOUNT CASH AND CASH EQUIVALENTS
1100 SUB-ACCOUNT PETTY CASH
1101 SUB-ACCOUNT GENERAL CASH

SUB-SUB-ACCOUNTS.
Sub-sub-accounts: Identified by the seventh digit, they represent aggregations of economic events that provide valuable financial information, allowing up to 199 sub-sub-accounts to be generated, grouped within the sub-accounts and the general ledger account. An example of codification is presented below:

CODE TYPE DESCRIPTION
1111 SUB-ACCOUNT LOCAL BANKS AND INTERMEDIARIES 1111000 SUB-SUB-ACCOUNT CHECKING ACCOUNT DEPOSITS 1111010 SUB-SUB-ACCOUNT SAVINGS ACCOUNT DEPOSITS 1111020 SUB-SUB-ACCOUNT TIME DEPOSITS

OPENING OF DETAIL ACCOUNTS FOR BANKS.
Bank accounts will be generated in accordance with the following list, assigning the eighth and ninth digits for their identification.

DIGITS FINANCIAL INSTITUTION
00 CENTRAL RESERVE BANK
01 AGRICULTURAL BANK, S.A.
02 DAVIVIENDA SALVADORIAN BANK, S.A.
03 MORTGAGE BANK OF EL SALVADOR
04 CITIBANK, N. A., EL SALVADOR BRANCH
05 CUSCATLAN BANK OF EL SALVADOR, S.A.
06 AGRICULTURAL DEVELOPMENT BANK
08 PROMERICA BANK, S.A.
11 CENTRAL AMERICA BANK, S.A.
12 ATLANTIDA BANK EL SALVADOR, S.A.
14 BANK OF NEW YORK
15 STATE STREET
16 CLEAR STREAM
17 JP MORGAN

DIGITS FINANCIAL INSTITUTION
18 ABANK EL SALVADOR BANK, S.A.
19 AZUL BANK OF EL SALVADOR, S.A.
20 INDUSTRIAL BANK EL SALVADOR, S.A.
21 APOYO INTEGRAL BANK, S.A.
22 DEVELOPMENT BANK OF THE REPUBLIC OF EL SALVADOR 23 RURAL DEVELOPMENT BANK, SOCIETY LIMITED 24 SALVADORIAN WORKERS BANK, S.C. DE R.L. DE C.V.

Generating the detail account immediately for the corresponding bank, for example:

CODE TYPE DESCRIPTION
1111 SUB-ACCOUNT LOCAL BANKS AND INTERMEDIARIES 1111000 SUB-SUB-ACCOUNT CHECKING ACCOUNT DEPOSITS 111100001 DETAIL AGRICULTURAL BANK, S.A. 1111010 SUB-SUB-ACCOUNT SAVINGS ACCOUNT DEPOSITS 111101001 DETAIL AGRICULTURAL BANK, S.A.

If new banks arise, they will be added by continuing the sequence of the last assigned code. This codification is applicable to all accounts, sub-accounts, and sub-sub-accounts that represent deposits of Asset Securitization Companies in financial institutions on their own account.

D. CLOSE OF ECONOMIC YEAR
The economic and accounting period shall comprise from January 1 to December 31 of each year.

E. RECORDS

ACCOUNTING BOOKS
The movement and balance of accounts shall be recorded in the main books, and that of sub-accounts in auxiliary books as considered necessary. The main books that must be legalized are the following:
a. Financial Statements Book; b. General Ledger (If they consider it convenient, they may legalize the books in one single JOURNAL - GENERAL LEDGER); and
c. Journal Book.
Accounting records must comply with what is established in Title II, of Book Two, of the Code of Commerce, insofar as applicable. In particular, in the Financial Statements Book, the Balance Sheet, the Statement of Results, the Statement of Cash Flows, the Statement of Changes in Equity, and the corresponding notes must be entered, in accordance with what is established in Article 442 of the Code of Commerce. The figures entered in this book must be presented in absolute values including cents, in a comparative manner with the figures of the previous year.
TAX BOOKS
The books of legal requirement, in accordance with the Law on Tax on the Transfer of Movable Goods and the Provision of Services, must comply with what is established in Article 141 of the Tax Code and Section Five of Chapter VII of the Regulation for the application of the Tax Code, which are mentioned below:
a. Purchase Registration Book; b. Sales to Taxpayer Registration Book;
c. Sales to Consumer Registration Book.
ADMINISTRATIVE BOOKS
The Securitization Company must keep, legalize, and complete, in addition to the accounting and tax books established above, the following books dictated by the Code of Commerce for this case:
a. Shareholders' General Meeting Minutes Book, b. Board of Directors Minutes Book,
c. Shareholders Registration Book.
The Shareholders' General Meeting Minutes and Board of Directors Minutes, in addition to complying with what is stipulated in Article 246 of the Code of Commerce, must be entered in the corresponding Legal Books no later than 15 days after said sessions are held.

F. INTERNAL CONTROL APPLIED TO ACCOUNTING RECORDS Accounting records must contain the necessary detail regarding the characteristics of assets, liabilities, commitments, income, and expenses so that all information contained in the different statements to be rendered can be clearly derived from them, which will maintain the necessary correlation both among themselves, when applicable, and with that accounting basis. Likewise, inventories or details of the different items will be kept, independent of the books of an obligatory nature required by Salvadoran legislation. To this end, entities will establish internal control systems directed to reasonably ensure the reliability of accounting records, as well as the correct integration of operations. Therefore, independent of the accounts specified to form the financial statements, the details deemed necessary for the preparation of the rest of the complementary informative statements will be established, thereby developing an analytical accounting that provides sufficient information for the calculation of costs and returns of the different centers, products, business lines, or other aspects of interest for adequate management control.

G. RECORDING AND ARCHIVING OF ACCOUNTING DOCUMENTATION The operations registered in the books listed in letter E must be backed by the corresponding supporting documentation and comply with the standards established in the Code of Commerce. Operations will be entered as they are carried out, and only in exceptional cases, justified in writing to the Superintendence of the Financial System, a delay of more than one month may be permitted, both in the accounting books, as well as administrative, and other books of legal requirement. This without prejudice to the sanctions, fines, and others that the Asset Securitization Company may incur for such delays established in accordance with the applicable legal standards by other government entities.

H. SEPARATION OF INCOME AND EXPENSES
To associate income with the corresponding expenses, ordinary income and expenses have been determined as: Operating Income, Financial Income, Operating Costs, and Financial Expenses; and extraordinary income and expenses.

I. APPROVAL AND MODIFICATION OF ACCOUNTING SYSTEMS
The accounting system consists of the methods and records established to identify, gather, analyze, classify, record, and report the transactions of an entity, as well as to maintain the accounting of the asset, liability, equity, and asset securitization operations relative to it. The accounting system comprises:

The Chart of Accounts and Application Manual.
Accounting records, supporting documents, and auxiliary records.
The accounting processing involved from the initiation of a transaction, until its inclusion in the financial statements, including the way to use computers for data processing.
The financial information process employed to prepare the entity's financial statements, including estimates and disclosures of important tables.

In consideration of the above, the process to follow to request approval and/or modification to the accounting systems will be:
a) The Securitization Company must present its application addressed to the Superintendence of the Financial System, attaching the complete accounting system requested for authorization in original and copy, with the signature of the Legal Representative. b) If the accounting system is computerized, they must attach the required information for such systems.

The minimum information to be detailed within the accounting system, for purposes of approval and modification will be:
1 DESCRIPTION OF ACCOUNTING SYSTEM
1.1 ENTITY GENERAL INFORMATION
Name or Trade Name, Tax Identification Number (NIT) and Taxpayer Registration Number (NRC), Address and Telephone, etc.
1.2 DATA OF REGISTRATION OF THE DEED OF CONSTITUTION
1.3 REGISTRATION OF THE DEED OF CONSTITUTION
1.4 NAME AND REGISTRATION NUMBER OF THE EXTERNAL AUDITOR
1.5 ACCOUNTING POLICIES AND PROCEDURES ADOPTED.
Consists of presenting the accounting policies and their procedures, which the Securitization Company will use, in accordance with the minimum disclosures required by the Accounting Manual for Asset Securitization Companies and the applicable International Financial Reporting Standards.
1.6 DETAIL OF PROJECTED NOTES TO BE USED IN THE PUBLICATION OF FINANCIAL STATEMENTS
Consists of describing the notes to the financial statements to be prepared, in accordance with the minimum disclosures required by the Accounting Manual for Asset Securitization Companies and the applicable International Financial Reporting Standards.

2 REQUIREMENTS OF ACCOUNTING RECORDS
2.1 FORM OF KEEPING ACCOUNTING BOOKS
Indicate whether accounting will be kept in bound and paginated books, on separate sheets, or other physical or electronic means.

2.2 NATURE OF THE SYSTEM TO BE USED
Description of the name and operating form of the computer system.
2.3 FORM OF ENTRY OF OPERATIONS
Explain in what form operations will be entered into the legalized accounting records.
2.4 DETAIL OF AUXILIARY BOOKS TO BE KEPT AND THE FORM OF ENTERING OPERATIONS INTO THEM

3 DESCRIPTION OF COMPUTERIZED INFORMATION SYSTEMS 1
3.1 DESIGN OF THE COMPUTERIZED ACCOUNTING SYSTEM
The content of this section comprises a description of the way to register, operate, and generate accounting records, within the computer system.
3.1.1 DESCRIPTION OF MODULES 2

MODULE NAME
IMPLEMENTATION LANGUAGE
MODULE OBJECTIVE
Describe generally what is the main function of the specific accounting module.
MAIN SUB-MODULES (With explanation of them.)
REPORTS ISSUED BY THE MODULE, ON PAPER, SCREEN, OR MAGNETIC FILES
Exposing:
Name of the report,
Frequency of issuance,
Objective of the report

3.1.2 DESCRIPTION OF DATABASES

NAME OF THE DATABASE
OBJECTIVE
DATABASE MANAGER (WITH VERSION DETAIL)
FORM OF DATA CAPTURE

1 The description must incorporate, in addition to the accounting system, any other computer system that the Securitization Company uses for its operations, such as the systems it will use to control Securitization Funds. 2 The description applies to the main program, as well as to each of the sub-modules.

In this particular area, it must be specified whether the content of the database is generated by the system through automatic calculation or corresponds to information captured by the user.

−DETAILED FIELD DESCRIPTION
Field Name
Field Type
Meaning and Use of the Field

−DATA DICTIONARY

3.1.3 FLOWCHART OF MODULES AND PROGRAMS
The flowchart must show the data flow through the system and the interrelation between the steps of the process and computer routines.

3.1.4 ENTITY-RELATIONSHIP DIAGRAMS

4 CHARACTERISTICS OF THE HARDWARE USED FOR SYSTEM OPERATION

4.1 PHYSICAL DISTRIBUTION OF TERMINALS OR WORKSTATIONS

4.2 HARDWARE DESCRIPTION

4.2.1 SERVERS
−NO. OF SERVERS
−PROCESSOR
−RAM MEMORY
−HARD DISK CAPACITY
−INSTALLED SOFTWARE
−OPERATING SYSTEM

4.2.2 TERMINALS OR WORKSTATIONS
−PROCESSOR
−RAM MEMORY
−HARD DISK CAPACITY
−NETWORK CARD
−INSTALLED SOFTWARE
−OPERATING SYSTEM

4.2.3 INFORMATION RELATED TO THE NETWORK
−NETWORK OPERATING SYSTEM
−NETWORK TOPOLOGY
−NETWORK PROTOCOLS
−INTERNAL AND EXTERNAL NETWORK COMMUNICATIONS

4.3 CONTINGENCY PLAN
This will consist of an exposition of measures to be taken, in order to avoid loss of information or, in case of disasters, to ensure the system continues to operate.

5 SECURITY MEASURES
This will consist of an exposition of measures to be taken internally in order to minimize the inherent risk existing for the different assets, as well as for client assets under administration. It must also include measures for accessing information in physical or magnetic files.

6 ADDITIONAL DOCUMENTATION
The following documentation must be attached in original and copy:
− Source documentation to be used for recording operations. (Income notes, expense notes, journal vouchers, etc.). − Formats for main books, except for the books required by the Law on Tax on the Transfer of Movable Property and on the Provision of Services. − Formats for auxiliary books. − System reports (On paper or screen). − Technical and operation manual of the computer system. − User manual of the computer system. A photocopy of the payment receipt for the Commercial Registration (Company and Establishment) and the initial balance registered in the Commercial Registry must also be attached.

J. APPROVAL OF FINANCIAL STATEMENTS FOR THE END OF THE ECONOMIC YEAR AND MANAGEMENT REPORT The financial statements for the end of the economic year and management report must be included in the Annual Work Report to be presented at the General Shareholders' Meeting, for approval by the same, in the manner established in Chapter II of this Manual and taking into account the following procedures:

The Board of Directors of the Securitization Company must annually prepare the Work Report, prior consideration and approval in the General Shareholders' Meeting, within forty-five (45) days following the close of the fiscal year.
The Work Report must contain as a minimum: Identification, Number of Entry in the Stock Market Public Register, Letter from the President, Main achievements, Description of the company, Shareholders, Board of Directors, Administration and staff, Remunerations, Activities and Business of the company, Risk Factors, Financial Reports (Administrative and External Auditor Reports), and Declaration of Responsibility that will include the name, position, and signature of the Board of Directors and General Manager; and it must be sent to the Superintendence within 10 business days after its approval.

K. ACCOUNTING PRINCIPLES AND HYPOTHESES APPLICABLE In addition to the specific rules established in the description and application of items, accounts, and sub-accounts, some General Accounting Principles and Hypotheses are established, the application of which must be observed when recording the operations carried out by Asset Securitization Companies.

GENERAL ACCOUNTING PRINCIPLES
Accounting will be developed by applying the Accounting Principles indicated below:

PRINCIPLE OF PRUDENCE
This will prevail over any other principle in case of conflict. Foreseeable risks and potential losses must be accounted for as soon as they are known. Facts disclosed publicly or communicated specifically to the entity are considered known from the moment of their disclosure or receipt of the communication, respectively. Amortizations and depreciations must be taken into account, whether the fiscal year ends with a profit or a loss.

PRINCIPLE OF NON-COMPENSATION
Under no circumstances may asset and liability items of the Balance Sheet be offset, nor expense and income items of the Income Statement, unless specifically authorized by an International Financial Reporting Standard, which must be reported to the Superintendence.

PRINCIPLE OF CORRELATION OF INCOME AND EXPENSES By virtue of this, the income statement must reflect the income of the fiscal year and all expenses necessary to obtain them.

PRINCIPLE OF UNIFORMITY
Once a criterion has been adopted in the application of Accounting Principles within the alternatives that these may allow, it must be maintained over time as long as the assumptions that motivated the choice of said criterion are not altered. If for justified cause these vary, an explanatory note must accompany the affected statements to allow appreciation of the origin of the new criteria and their quantitative and qualitative effect on equity, results, and total assets. Likewise, such variation and its effects must be recorded in the notes to the financial statements included in the annual financial statements.

PRINCIPLE OF RELATIVE IMPORTANCE
Each item that possesses sufficient relative importance must be presented separately in the financial statements. Items of insignificant amounts must appear grouped with others of similar nature or function, provided they do not have to be presented separately.

PRINCIPLE OF COMPARISON OF INFORMATION
Numerical information in the annual financial statements must be presented together with the data from the previous fiscal year. When the method of preparation or classification of financial statement items is altered, the amounts of the previous fiscal year must be changed unless it is impossible to do so. If this modification is not possible, the reasons for such limitation must be reported in the notes to the financial statements.

FUNDAMENTAL HYPOTHESES

ACCUMULATION OR ACCRUAL BASIS
As a general criterion, the attribution of income and expenses to the Income Statement will be based on the actual flow they represent, regardless of the time of their collection or payment.

GOING CONCERN PRINCIPLE
The management of the Entity will be considered indefinite. Financial statements must be prepared based on the assumption of a going concern. Consequently, the application of accounting principles will not be aimed at determining the value of equity for the purpose of its global or partial alienation, nor the resulting amount in case of liquidation. If there is doubt about the continuity of the business, Management must reveal this fact in the financial statements. If financial statements are not prepared on the basis of a going concern, such circumstance must be revealed along with the alternative criteria that have been used and the reasons why the Entity cannot be considered a going concern.

L. INFORMATION ON RISKS
Entities will maintain information and monitoring systems regarding the situation of various classes of relevant risks according to the nature of their business and appropriate to their operations, which must be documented and approved by their Board of Directors. In particular, they must have information to evaluate at all times their risks from fluctuations in the quotes of securities or instruments derived from them, interest rates, and currencies, their liquidity risk, both from their treasury position and from the composition or availability of their securities portfolio, their credit risk derived from insolvency in financial investments, their counterparty risk in assumed commitments, and their risk of concentration of assets, liabilities, and commitments by subjects, financial groups, terms, and economic activity sectors. Likewise, Securitization Companies must equip themselves with control systems that allow adequate monitoring of compliance with limits on the assumption of risks established by them (-11), approved by the Central Reserve Bank through its Standards Committee. The information referred to above will be available to the Board of Directors of the Superintendence of the Financial System at all times in accordance with Article 32 of the Law on Supervision and Regulation of the Financial System.

CHAPTER II
FINANCIAL STATEMENTS TO BE PRESENTED TO THE SUPERINTENDENCE OF THE FINANCIAL SYSTEM AND PUBLISHED

A. FINANCIAL STATEMENTS TO BE PRESENTED TO THE SUPERINTENDENCE OF THE FINANCIAL SYSTEM

Securitization Companies must submit their monthly, semi-annual, or annual Financial Statements to the Superintendence of the Financial System in the formats, deadlines, periodicity, and under the grouping rules dictated in this Manual. These Financial Statements are the only valid ones for all purposes, whether for approval in the General Shareholders' Meeting, inclusion in the annual report, and publication in national circulation print media or other digital publication platforms with greater or equal coverage, or on their website, in accordance with the provisions of the current legal framework or for any other type of dissemination in the country or abroad, with the exception of Financial Statements that must be prepared for tax purposes, while there are fiscal criteria that differ from what is established in this Manual. Semi-annual and annual Financial Statements must be accompanied by the Interim Report and/or External Auditor's Opinion, as applicable.
Semi-annual or annual Financial Statements, such as: Balance Sheet, Income Statement, Statement of Changes in Equity, Statement of Cash Flows, and the notes thereto, which are sent to the Superintendence of the Financial System, must be submitted obligatorily with the signatures of the General Accountant, the person holding the main executive position, i.e., the General Manager, the Legal Representative, and the External Auditor, and their corresponding seals.
These Financial Statements must be expressed in United States dollars in absolute figures including cents.
Asset Securitization Companies must annually inform about the persons authorized to sign the financial statements. The General Accountant must be a Licensed Public Accountant. Such communication is required when there are changes in the persons authorized to sign the Financial Statements.
The signatures must be identified regarding the persons to whom they belong and their corresponding positions, considering that they imply the declaration that the information contained in the signed documents has been extracted from the legal and auxiliary books of the entity and verified for accuracy and integrity.
The semi-annual and annual Financial Statements presented to the Superintendence of the Financial System must be considered and approved by the Board of Directors those corresponding to June 30, and by the General Shareholders' Meeting of the entity those corresponding to December 31, in the first meeting held after the presentation of said financial statements, leaving written record in the respective minutes regarding their review and analysis, and sending copies of said minutes to the Superintendence no later than the last day of the publication deadline for semi-annual Financial Statements and eight business days after the General Shareholders' Meeting, in the case of annual Financial Statements. In case of observations, these must be reported immediately to the Superintendence of the Financial System.
At the bottom of each semi-annual and annual Financial Statement, the following pages (Indicate the page number) are an integral part
Asset Securitization Companies will submit their Trial Balances and monthly reports to the Superintendence of the Financial System through electronic systems, within eight business days following the month to which the information corresponds; in addition, the monthly Trial Balance must include all sub-accounts, sub-sub-accounts, and detail accounts down to the last level of information, with movements and balances, in accordance with what is established in letter D of this Chapter.
When referring to Trial Balances and semi-annual or annual information, Securitization Companies will electronically send within sixty calendar days following the month to which the definitive information corresponds. This does not mean that the provisional information of said months does not have to be presented within the deadline stipulated in the previous paragraph.
Financial Statements and information will be presented by Asset Securitization Companies to the Superintendence of the Financial System in comparative form with the immediate previous period, and the Trial Balance must include all sub-accounts, sub-sub-accounts, and detail accounts down to the last level, with movements and balances; in the formats and frequencies indicated below:

Frequency Format Designation
Semi-annual A Balance Sheet
Monthly and Semi-annual B Income Statement
Semi-annual C Statement of Changes in Equity
Semi-annual D Statement of Cash Flows
Semi-annual E Notes to Financial Statements

B. PUBLICATION OF FINANCIAL STATEMENTS
Asset Securitization Companies, in accordance with current legal norms, must publish their semi-annual and annual Financial Statements along with the Auditor's Opinion, in two national circulation print media or other digital publication platforms with greater or equal coverage, or on their website, in accordance with the provisions of the current legal framework within 60 days following the end of each semester. The Financial Statements to be published must comply with what is established in Article 28 of the Asset Securitization Law, understanding that the notes to the financial statements form an integral part of them and are therefore mandatory for publication.

The Interim Balance Sheet must be presented in comparative form with the annual Financial Statements of the immediate previous period. The remaining Interim Financial Statements will be presented with their similar from the semester of the immediate previous period. If the Superintendence of the Financial System determines the existence of data that alter, modify, or affect the published financial statements, the notes, or that the latter have not been published in their entirety, it will require the entity to publish anew, in the same national circulation print media or digital publication platforms in which it was originally published, accompanied by its explanatory note proposed by the Securitization Company and approved by the Superintendence. In case the Securitization Company refuses to publish the corrected Financial Statements, as well as their respective notes, required in accordance with this Manual, the Superintendence will instruct a deadline for the Securitization Company to make the publication effective; otherwise, the corresponding sanction will be imposed in accordance with what is established in the Law on Supervision and Regulation of the Financial System. The published Financial Statements and their notes must be expressed in thousands of United States dollars. Asset Securitization Companies must appoint a person responsible for sending information regarding the publications they make and will notify through the performance. The appointed person must send the information no later than the business day after Superintendence, in the following format:

Name of the
Publication Page Date of
Publication
Medium of
Publication

C. FORM AND CONTENT OF FINANCIAL STATEMENTS AND NOTES
The basic content of the information to be published is presented in the models listed below:

• Results.
.
Statement of Cash Flows.
FORMAT E

The Formats for Financial Statements A, B, C, and D are presented in Chapter V of this Accounting Manual. The corresponding account code is attached to facilitate the identification of accounts to be published. It is at the option of the Asset Securitization Company to publish financial statements under the account or report modality, when applicable. It must be understood that what is detailed in the Financial Statements and their notes is the minimum to be published, leaving it at the option of the Securitization Company to expand the information provided to the public. At the header of each Financial Statement, following the name of the Securitization Company, it must describe to which financial conglomerate it belongs (if applicable), example:
(parent company, subsidiary, etc.

NOTES TO THE FINANCIAL STATEMENTS.
In the preparation of the financial statements of Asset Securitization Companies, what is established in this Accounting Manual and the International Financial Reporting Standards (IFRS) must be observed, with what is established in this Accounting Manual prevailing in case of conflict with the International Financial Reporting Standards (IFRS). The preparation and publication of the notes is the responsibility of the Management of the Securitization Company, but it is the responsibility of the External Auditor to verify that such notes comply with the level of disclosure required by the International Financial Reporting Standards. If the published notes do not comply with what is required by the Standards, the republishing of the financial statements and the corrected notes may be required. In addition to the minimum disclosures required by Standards, the following notes must be included:

NOTE 1 CONSTITUTION AND REGISTRATION IN THE STOCK MARKET PUBLIC REGISTER This note must contain the information on the constitution of the company, including who, when, and object, as well as the main historical events and the details of modifications to its bylaws.

NOTE 2 ACCOUNTING CRITERIA USED
Reference will be made to the accounting period, bases of preparation and presentation of the Financial Statements, monetary correction, conversion bases, Property, plant and equipment, depreciation, other current assets, deferred taxes, and income taxes, rights over excesses of separate equity, indemnification, issuance and placement expenses for debt securities, operating income, cash flow, etc.

NOTE 3 ACCOUNTING CHANGES
Explain if changes have occurred in the application of accounting principles compared to the previous period.

NOTE 4 RISKS DERIVED FROM FINANCIAL INSTRUMENTS This disclosure must be made taking into account the requirements described in IFRS 7:

NOTE 5 BALANCES AND TRANSACTIONS WITH RELATED ENTITIES Balances of documents and accounts receivable from commissions earned for the administration of separate estates and payments made on their behalf must be detailed. Disclose any type of valid contract regarding obligations or rights. Long-term and short-term items must be separated, and the effects on results of significant transactions must be disclosed.

NOTE 6 DEFERRED TAXES AND INCOME TAX
Declaration and detail of tax obligations, provisions, and composition of income tax, withholdings, collections, and advance payments, deferred taxes, and temporary differences, etc.

NOTE 7 OTHER CURRENT ASSETS
Current assets not considered in specific notes are included in this note, for example: investments, etc.

NOTE 8 INTANGIBLE ASSETS
Intangible assets, their original and amortized amounts, are described.

NOTE 9 VARIOUS CREDITORS
Accounts payable, their balances, origins, and identification are detailed.

NOTE 10 PROVISIONS
Balances of provisions for the period being reported must be detailed, identifying the concept to which they refer.

NOTE 11 EQUITY
A declaration of the total subscription and payment of Social Capital (at least the amount established in the Asset Securitization Law) is made, detailing the shareholding distribution by identifying shareholders, their number of shares, and percentage of participation. As well as equity movements that have occurred during the reporting period, regarding: Distribution of dividends, increases or decreases in capital, revaluations or reserves, losses, etc. Likewise, it must be disclosed if the Asset Securitization Company has controlling or relevant shareholders, the quantity and amount and percentage they represent of the social capital, and that these have been reported to the regulator in accordance with the Law. Additionally, it must reveal if during the reported period there were non-compliance with the minimum equity level and how and when they were resolved.

NOTE 12 CONTINGENCIES
Regarding Contingent Liabilities, the following must be included: a brief description of the nature, estimate of the financial effect, indication of uncertainties related to the amount or time of any outflow, and the possibility of any reimbursement. Regarding Contingent Assets, reveal a brief description of the nature and the estimate of the financial effect.

NOTE 13 GUARANTEES OBTAINED FROM THIRD PARTIES The guarantees received from third parties must be detailed, specifying the origin, amount, validity, etc., and any other information that describes them completely.

NOTE 14 SANCTIONS
For the period reported, sanctions received from the Superintendency of the Financial System or another Administrative Authority must be detailed separately, describing the infractions committed and the sanctions imposed.

NOTE 15 SUBSEQUENT EVENTS AND OTHER IMPORTANT DISCLOSURES.
All other clarifications or additional explanations that are considered necessary or required by International Financial Reporting Standards (IFRS) for the adequate interpretation of the financial statements must be included. Examples of essential events that must be disclosed are:
a. The current Board of Directors, declaring that they do not have grounds for disqualification established by Law, as well as changes occurring in the Board of Directors or Administration; in such cases, substitutes and those replaced must be mentioned, along with the validity periods. b. Changes in the shareholding ownership of the Asset Securitization Company, indicating the amounts and number of shares.
c. Discontinued operations, indicating the date the event occurred.

d. Reclassification of liabilities. e. Gains or losses on the sale of property, plant and equipment, other assets in subsidiaries and branches, or any other gain on the sale of assets that significantly affect the profits of the Securitization Company. f. Losses arising from disasters. g. Effects of market value on the book value of investments in securities. h. The receipt of shares as payment of dividends; the receipt date, the number of shares, and their nominal value must be indicated.
i. Significant changes in Management plans.
j. Effects of contracts (leases, advertising, services, etc.).

NOTE 16 SIGNIFICANT DIFFERENCES BETWEEN INTERNATIONAL FINANCIAL REPORTING STANDARDS AND STANDARDS ISSUED BY THE REGULATOR

Asset Securitization Companies will disclose significant differences between International Financial Reporting Standards and this Accounting Manual.

6.1 OPERATIONS AND TRANSACTIONS TO BE REPORTED ELECTRONICALLY TO THE SUPERINTENDENCY OF THE FINANCIAL SYSTEM.

Asset Securitization Companies must electronically submit the following information to the Superintendency:
1.1. Trial Balance with monthly periodicity, which must be submitted within eight business days following the month being reported; and
1.2. Monthly report on commissions charged by the Asset Securitization Company to each of the funds, which must be submitted within eight business days following the month being reported.
Structure and files of the information to be submitted to the Superintendency.
2.1. Database structure of the files. The data structure is defined with the following files:

FILE NAME DESCRIPTION ssf_cota_saldo_cuenta.xsd Trial Balance. ssf_cota_comisiones_cobradas.xsd Commissions charged by the Asset Securitization Company to each of the funds.

2.2. Data file for the submission of information. The files will be submitted with the following information:

FILE NAME DESCRIPTION saldo_cuenta.xml Trial Balance. comisiones_cobradas.xml Commissions charged by the Asset Securitization Company to each of the funds.

Name of the files to be submitted to the Superintendency of the Financial System.
3.1. File name: saldo_cuenta. This file is used to report information corresponding to the trial balance with its balances and accounting movements:

ELEMENT DESCRIPTION id_codigo_cuenta
Accounting Code. The code of the account will be noted, from the first to the last level according to the nomenclature of its account catalog. nombre_cuenta Description of the accounting account. Name corresponding to the account according to the entity's account catalog. Saldo_anterior The amount of the previous balance of the account. Cargo_mes The amount of charges that affected the account during the reference month. Abono_mes The amount of credits that affected the account during the reference month. Saldo_actual The amount of the final balance of the account. Naturaleza_cuenta Nature of the account; Debtor or Creditor.

3.2. File name: Comisiones_cobradas. This corresponds to the file that includes commissions charged by the Asset Securitization Company to each of the Securitization Funds.

ELEMENT DESCRIPTION nombre_fondo
Corresponds to the name of the fund approved by the Board of Directors of the Superintendency. Concepto Field used Comisión Corresponds to the effective value of commissions applied to structured funds, expressed in form.

The Superintendency will send the technical details related to the mechanisms for sending the information requested in the formats established in this subsection, which will be communicated to Asset Securitization Companies, with a copy to the Central Bank, within a maximum period of sixty days following the entry into force of the modifications of this subsection D.
Asset Securitization Companies must implement the necessary mechanisms for the submission of information within a maximum period of ninety business days, counted from the date of receiving the technical details from the Superintendency referred to in the previous paragraph.
Asset Securitization Companies must comply with the following aspects:
a) The deadline for submission to the Superintendency of the files. b) The formats in the formation of the names of the sent files. c) The data structures required by the Superintendency. d) The quality of the information: ensuring that the information is sent free of errors.
To fulfill the responsibility of sending information, a responsible person must be appointed by the audited entity, whose function is to serve as contact or liaison with the Superintendency. This person must report any problems that may arise in the information sending process.
The name of the person responsible for these duties must be notified by means of their position, direct phone, email, and any other information useful to guarantee the respective contact. This person may be the same as referred to in subsection B, of this Chapter.
The accounts and their balances will be validated prior to sending the data. During this process, the Asset Securitization Company may correct and review its information. Once the sending is performed, it will be taken as definitive. In case a resending is required, the Asset Securitization Company must inform by means of a letter the reason and request authorization from the Securities Superintendency, who will inform the corresponding areas to change the status and allow resending.
The entity that fails to submit information within the deadline established in numeral 1 of this subsection D must send, no later than the next business day, a letter signed by the general manager, and in their absence, whoever is legally authorized to do so, in which the cause of non-compliance, the solution to the delay, and the administrative measures that will be taken to avoid the repetition of the non-compliance are clearly explained.

CHAPTER III
ACCOUNT CATALOG
The Account Catalog is presented in the Annex of this Accounting Manual, in which codes and descriptions are detailed.

CHAPTER IV
ACCOUNT APPLICATION MANUAL

SECTION I
ACCOUNTING APPLICATION MANUAL FOR ASSETS

ELEMENT 1 ASSET
DESCRIPTION:
Represents resources controlled by the company as a result of past events, and whose future economic benefits are expected to flow to the company. It includes cash on hand, bank deposits, immediate collection effects, negotiable securities, accounts and documents receivable, prepaid expenses, permanent investments in securities, fixed assets, and other assets; as well as, the corresponding provisions for uncollectibility, for the devaluation of investments, accumulated depreciation for fixed assets, and accumulated amortization for amortizable expenses.

HEADER 11 CURRENT ASSET
DESCRIPTION:
Represents resources controlled by the company as a result of past events, and whose future economic benefits are expected to flow to the company within a period of one year at most. It includes cash on hand, bank deposits, immediate collection effects, negotiable securities, accounts and documents receivable, prepaid expenses; as well as, the corresponding provisions for uncollectibility, for the devaluation of investments.

The following accounts, sub-accounts, and sub-sub-accounts correspond to this header:

ACCOUNT 110 CASH AND CASH EQUIVALENTS
DESCRIPTION:
This account records cash consisting of the existence of local circulation banknotes and coins and foreign coins authorized by the Central Bank, which the entity maintains in the cash box of its main office and cash for centralized minimal expense disbursements such as petty cash.

SUB-ACCOUNT 1100 PETTY CASH
SUB-ACCOUNT 1101 GENERAL CASH

DESCRIPTION:
Periodic verifications of cash holdings must be carried out through audits, the act of which must be recorded in relevant minutes duly signed by the custodians and the auditors. Any differences that may be established must be accounted for, as appropriate.

CHARGES:

By income in local and/or foreign circulation currency, checks or other equivalent effects of currency.
By internal transfers of cash.
By cash overages.

CREDITS:

By disbursements in cash with national and/or foreign currency.
By internal transfers of cash.
By cash shortages.

ACCOUNT 111 BANKS AND NON-BANK FINANCIAL INTERMEDIARIES DESCRIPTION:
This account records the amount of current, savings, and time deposits, in national and foreign currency, that the entity maintains in banking institutions, non-bank financial intermediaries, and financial companies. It includes overdrafts and current account advances granted by banks.

SUB-ACCOUNT 1111 LOCAL BANKS AND INTERMEDIARIES SUB-SUBACCOUNT 1111000 CURRENT ACCOUNT DEPOSITS SUB-SUBACCOUNT 1111010 SAVINGS ACCOUNT DEPOSITS SUB-SUBACCOUNT 1111020 TIME DEPOSITS SUB-ACCOUNT 1112 FOREIGN BANKS AND FINANCIAL COMPANIES SUB-SUBACCOUNT 1112000 CURRENT ACCOUNT DEPOSITS SUB-SUBACCOUNT 1112010 SAVINGS ACCOUNT DEPOSITS SUB-SUBACCOUNT 1112020 TIME DEPOSITS

In the corresponding sub-sub-accounts and analytical accounts, the amount of current, savings, and time deposits, in national and foreign circulation currency, that the entity maintains in banking, non-banking, and financial institutions will be recorded by type of entity and Account No. Deposits in banks in the current account modality include, when applicable, overdrafts and current account advances granted by banks. Detailing the bank account number corresponding to the created analytical account. Bank overdrafts, when they occur, must be reclassified to the corresponding liability accounts. Bank account balances must be subject to reconciliation with their respective statements; differences, as well as pending correspondence items, must be regularized within a period not exceeding thirty (30) days for domestic operations and sixty (60) days for foreign operations.

CHARGES:

By deposits made in cash or its equivalent.
By fund transfers.
By credit notes received.

CREDITS:

By drawn checks.
By withdrawals made in cash or its equivalent.
By debit notes received.
By fund transfers.

ACCOUNT 112 RESTRICTED AVAILABLE
DESCRIPTION:
This account records deposits on which the entity cannot exercise immediate availability, either due to contractual effects, loans, administrative or judicial order, or other mandatory restrictive provision.

SUB-ACCOUNT 1120 DEPOSITS IN GUARANTEE
DESCRIPTION:
This sub-account records funds designated to constitute guarantees, prior to agreement of the competent bodies of the entity, to meet the requirements of its operational activities. They also represent minimum balances in bank accounts to be maintained in accordance with loan contracts held by the Asset Securitization Company.

SUB-SUBACCOUNT 1120000 GUARANTEE DEPOSITS IN M.L.
SUB-SUBACCOUNT 1120010 GUARANTEE DEPOSITS IN M.E.

SUB-ACCOUNT 1121 OTHER RESTRICTED AVAILABILITIES DESCRIPTION:
This sub-account records deposits on which the entity cannot exercise immediate availability due to judicial order or other mandatory restrictive provision.

SUB-SUBACCOUNT 1121000 OTHER RESTRICTED AVAILABILITIES IN M.L.
SUB-SUBACCOUNT 1121010 OTHER RESTRICTED AVAILABILITIES IN M.E.

CHARGES:

By the imposition of funds in guarantee.
By restricted deposits.

CREDITS:

By the release of funds in guarantee.
By the release of restricted deposits.

ACCOUNT 113 FINANCIAL INVESTMENTS
DESCRIPTION:
It includes investments in securities acquired by the entity with a negotiable character, held to maturity, or available for sale, with the purpose of obtaining returns. These investments will be recorded by adding to the cost the charges related to their acquisition. The value fluctuation that occurs as a consequence of the corresponding daily valuation must constitute a provision against the profit or loss of the period. The yield generated by fixed-income securities investments, as soon as...

SUB-ACCOUNT 1130 INVESTMENTS HELD FOR TRADING
DESCRIPTION:
This category includes those financial assets, measured at fair value with effect on results, that meet the following conditions: They are acquired with the objective of realizing them in the short term; they are part of a portfolio of financial investments identified and managed jointly for which there is evidence of recent actions to generate short-term profits. Derivatives not designated as accounting hedge instruments. The classification in this header is subject to the ease of obtaining prices for these assets within an active market or the existence of a valuation methodology developed by an authorized body, which may be adequate to assign a fair value to such assets. The entity will not reclassify a financial instrument into this category while it is in its possession or continues to be issued, nor will it remove any classified in this way to take it to a different category.

SUB-SUBACCOUNT 1130000 PUBLIC BONDS
SUB-SUBACCOUNT 1130010 BONDS OF PRIVATE FINANCIAL ENTITIES SUB-SUBACCOUNT 1130020 BONDS OF PRIVATE NON-FINANCIAL ENTITIES SUB-SUBACCOUNT 1130030 FOREIGN PUBLIC BONDS SUB-SUBACCOUNT 1130040 FOREIGN PRIVATE BONDS SUB-SUBACCOUNT 1130050 MARKETABLE PAPER SUB-SUBACCOUNT 1130060 INVESTMENT CERTIFICATES OF FINANCIAL ENTITIES SUB-SUBACCOUNT 1130070 INVESTMENT CERTIFICATES OF NON-FINANCIAL ENTITIES SUB-SUBACCOUNT 1130080 OTHER INVESTMENTS IN FIXED INCOME SECURITIES OF PUBLIC ENTITIES SUB-SUBACCOUNT 1130090 OTHER INVESTMENTS IN FIXED INCOME SECURITIES OF PRIVATE FINANCIAL ENTITIES SUB-SUBACCOUNT 1130100 OTHER INVESTMENTS IN FIXED INCOME SECURITIES OF PRIVATE NON-FINANCIAL ENTITIES SUB-SUBACCOUNT 1130110 SECURITIES IN GUARANTEE (SALE REPOROS) SUB-SUBACCOUNT 1130120 SHARES SUB-SUBACCOUNT 1130130 INVESTMENTS IN PORTFOLIO MANAGEMENT SUB-SUBACCOUNT 1130140 INVESTMENTS IN SECURITIZATION FUNDS SUB-SUBACCOUNT 1130150 ETF'S AND OTHER PARTICIPATIONS SUB-SUBACCOUNT 1130160 OTHER INVESTMENTS IN VARIABLE INCOME SECURITIES SUB-SUBACCOUNT 1130170 INVESTMENTS IN INVESTMENT FUNDS SUB-SUBACCOUNT 1130180 DERIVATIVES

CHARGES:

By subscription or purchase, generally credited to the accounts of
By upward fluctuations in fair value with respect to the cost of subscription or purchase, crediting the results account within the income accounts by the difference between fair value and said cost.
These amounts, after adjusting results at the end of the period, will become part of the Restricted Equity, Investments held for trading.
By the amount of accrued but uncollected interest at the close of different economic periods, crediting the Interest and dividends portfolio financial investments accounts.

CREDITS:

By downward fluctuations in fair value with respect to the cost of subscription or purchase, debiting the results account within the expense accounts by the difference between fair value and said cost.
By sales, early amortizations, or write-offs in the securities portfolio, with sale and for which it was accounted for at that time.
In the case of investments in foreign currency, this account will be debited or credited by the exchange rate between the previous value and the current exchange rate.

SUB-ACCOUNT 1131 INVESTMENTS HELD TO MATURITY
DESCRIPTION:
This category may include non-derivative financial assets with fixed maturity and determinable or determinable cash flows that the...

The entity has, from the beginning and on any subsequent date, both the positive intention and the demonstrated financial capacity to hold them until maturity. Such intention and capacity must be consistent with its risk policies and classification of financial assets.

Assets classified in this category will be recorded at their amortized cost. Amortized cost is measured by the present value of estimated future cash flows discounted at the original effective interest rate of the financial asset(s).

SUB-SUBACCOUNT 1131000 PUBLIC BONDS
SUB-SUBACCOUNT 1131010 BONDS OF PRIVATE FINANCIAL ENTITIES SUB-SUBACCOUNT 1131020 BONDS OF PRIVATE NON-FINANCIAL ENTITIES SUB-SUBACCOUNT 1131030 FOREIGN PUBLIC BONDS SUB-SUBACCOUNT 1131040 FOREIGN PRIVATE BONDS SUB-SUBACCOUNT 1131050 MARKETABLE PAPER SUB-SUBACCOUNT 1131060 INVESTMENT CERTIFICATES OF FINANCIAL ENTITIES SUB-SUBACCOUNT 1131070 INVESTMENT CERTIFICATES OF NON-FINANCIAL ENTITIES SUB-SUBACCOUNT 1131080 OTHER INVESTMENTS IN FIXED INCOME SECURITIES OF PUBLIC ENTITIES SUB-SUBACCOUNT 1131090 OTHER INVESTMENTS IN FIXED INCOME SECURITIES OF PRIVATE FINANCIAL ENTITIES SUB-SUBACCOUNT 1131100 OTHER INVESTMENTS IN FIXED INCOME SECURITIES OF PRIVATE NON-FINANCIAL ENTITIES SUB-SUBACCOUNT 1131110 INVESTMENTS IN SECURITIZATION FUNDS SUB-SUBACCOUNT 1131120 ETF'S AND OTHER PARTICIPATIONS SUB-SUBACCOUNT 1131130 OTHER INVESTMENTS IN VARIABLE INCOME SECURITIES SUB-SUBACCOUNT 1131140 INVESTMENTS IN INVESTMENT FUNDS SUB-SUBACCOUNT 1131150 DERIVATIVES

CHARGES:

For the subscription or purchase cost with credit normally to accounts of

For positive adjustments to amortized cost in case the acquisition cost is lower than the face value of the asset or interest is paid at maturity with credit to the Interest and Dividends Income account of the financial investment portfolio.
For accrued interest with credit to the Interest and Dividends Income account of the financial investment portfolio.

CREDITS:

For negative adjustments to amortized cost in case the acquisition cost is higher than the face value, debiting the Interest and Dividends Income account of the financial investment portfolio, once accrued interest has been credited.

SUB-ACCOUNT 1132 INVESTMENTS AVAILABLE FOR SALE

DESCRIPTION:
This category will include non-derivative financial assets that are specifically designated as available for sale, or that are not classified as: a) trading b) loans and receivables, c) held-to-maturity investments or d) financial assets accounted for at fair value with changes in results. In short, it is the default investment category.

SUB-SUBACCOUNT 1132000 PUBLIC BONDS
SUB-SUBACCOUNT 1132010 BONDS OF PRIVATE FINANCIAL ENTITIES SUB-SUBACCOUNT 1132020 BONDS OF PRIVATE NON-FINANCIAL ENTITIES SUB-SUBACCOUNT 1132030 FOREIGN PUBLIC BONDS SUB-SUBACCOUNT 1132040 FOREIGN PRIVATE BONDS SUB-SUBACCOUNT 1132050 MARKETABLE PAPER SUB-SUBACCOUNT 1132060 INVESTMENT CERTIFICATES OF FINANCIAL ENTITIES SUB-SUBACCOUNT 1132070 INVESTMENT CERTIFICATES OF NON-FINANCIAL ENTITIES SUB-SUBACCOUNT 1132080 OTHER INVESTMENTS IN FIXED INCOME SECURITIES OF PUBLIC ENTITIES SUB-SUBACCOUNT 1132090 OTHER INVESTMENTS IN FIXED INCOME SECURITIES OF PRIVATE FINANCIAL ENTITIES SUB-SUBACCOUNT 1132100 OTHER INVESTMENTS IN FIXED INCOME SECURITIES OF PRIVATE NON-FINANCIAL ENTITIES

SUB-SUBACCOUNT 1132110 GUARANTEED VALUES (SALE REPurchase AGREEMENTS) SUB-SUBACCOUNT 1132120 SHARES SUB-SUBACCOUNT 1132130 INVESTMENTS IN PORTFOLIO MANAGEMENT SUB-SUBACCOUNT 1132140 INVESTMENTS IN SECURITIZATION FUNDS SUB-SUBACCOUNT 1132150 ETF'S AND OTHER PARTICIPATIONS SUB-SUBACCOUNT 1132160 OTHER INVESTMENTS IN VARIABLE INCOME SECURITIES SUB-SUBACCOUNT 1132170 INVESTMENTS IN INVESTMENT FUNDS SUB-SUBACCOUNT 1132180 DERIVATIVES SUB-SUBACCOUNT 1132190 SUBSCRIPTIONS OF SECURITIES, IN PRIMARY MARKET

CHARGES:

For the amount of accrued interest not collected at the close of the different economic periods crediting the income accounts
In the case of investments in foreign currency, this account will be debited or credited by the exchange rate between the previous value and the current exchange rate with charge or credit to the income or expense result account called Exchange Rate Difference.

CREDITS:

For sales, early amortizations or write-off of the securities portfolio, at initial value, in case gains occur, crediting the account of
Likewise, it will be credited with a debit to the expense result account if there is objective evidence that the instruments have deteriorated as a result of one or more events that occurred after the initial recognition of the asset or assets

SUB-ACCOUNT 1133 (ESTIMATE FOR VALUATION OF FINANCIAL INVESTMENTS)

DESCRIPTION:
This account must represent the value of the impairment, of the financial investments held to maturity, caused by price variations, by payment insolvency on the part of the issuer or other causes that indicate that the instrument has deteriorated; its balance is creditor and is presented decreasing the item to which it belongs.

SUB-SUBACCOUNT 1133000 INVESTMENTS HELD FOR TRADING SUB-SUBACCOUNT 1133010 INVESTMENTS HELD TO MATURITY SUB-SUBACCOUNT 1133020 INVESTMENTS AVAILABLE FOR SALE

CHARGES:

This account will be reversed up to the value of the impairment recognized in previous dates and that at the balance date, according to the valuation of the assets performed, the administration has determined that the causes that originated said impairment have disappeared.

CREDITS:

For the value of the impairment with debit to the result account in the corresponding account in case the investment is not collected.

ACCOUNT 114 ACCOUNTS AND DOCUMENTS RECEIVABLE

DESCRIPTION:
It comprises various rights that are directly related to the activity of the Securitization Companies. It includes accounts and documents receivable from Originators, Securitization Funds, Brokerage Houses, etc., for own operations and for asset securitization services operations. It includes the corresponding accounts to register the items resulting from doubtful collectability.

Accounts and documents receivable must be evaluated at least semi-annually, in order to establish their recoverability. Accounts classified as uncollectable by the administration and/or those that after their maturity, thirty (30) days have elapsed and have not been collected, must be subject to accounting by reclassifying them as accounts of doubtful collection, in the corresponding analytical accounts that include the accounts of this item, for which the corresponding provisions must be constituted.

For adequate presentation in the balance sheet, the balance of this item will be shown net of the complementary asset account, ESTIMATE FOR UNCOLLECTABLE ACCOUNTS.

SUB-ACCOUNT 1140 ORIGINATORS
SUB-SUBACCOUNT 1140000
RECEPTION OF ASSETS FOR INTEGRATION OF
SECURITIZATION FUNDS
SUB-SUBACCOUNT 1140010 COMMISSIONS
SUB-SUBACCOUNT 1140020 OTHERS

SUB-ACCOUNT 1141 SECURITIZATION FUNDS
SUB-SUBACCOUNT 1141000 COMMISSIONS
SUB-SUBACCOUNT 1141010 OTHERS

SUB-ACCOUNT 1142 BROKERAGE HOUSES
SUB-SUBACCOUNT 1142000 BROKERAGE HOUSES

SUB-ACCOUNT 1143 INVESTORS
SUB-SUBACCOUNT 1143000 INVESTORS

SUB-ACCOUNT 1144 STOCK EXCHANGE
SUB-SUBACCOUNT 1144000 STOCK EXCHANGE

SUB-ACCOUNT 1145 CENTRAL DEPOSIT AND CUSTODY OF SECURITIES SUB-SUBACCOUNT 1145000 CENTRAL DEPOSIT AND CUSTODY OF SECURITIES

SUB-ACCOUNT 1146 OTHER ACCOUNTS RECEIVABLE
SUB-SUBACCOUNT 1146000 INTERESTS PAID IN ADVANCE

SUB-SUBACCOUNT 1146010 ADVANCES TO SUPPLIERS
SUB-SUBACCOUNT 1146020 INDEMNITIES CLAIMED FOR DISASTERS SUB-SUBACCOUNT 1146030 CASH SHORTAGES SUB-SUBACCOUNT 1146040 OTHER ACCOUNTS RECEIVABLE

CHARGES:

For the rights generated by own operations and by the services
provided to Originators, Securitization Funds and third parties.
For loans granted to third parties.
For payments made in excess and/or on behalf of third parties.
For the partial or total collection of accounts for which provisions
for risk of uncollectability have been constituted.

CREDITS:

For the collection of rights.
For the collection of loans granted.
For the collection or refund of payments made in excess and/or on behalf
of third parties.
For the write-off of accounts classified as uncollectable.

SUB-ACCOUNT 1147 (ESTIMATE FOR UNCOLLECTABLE ACCOUNTS)

DESCRIPTION:
This sub-account records the estimate for accounts and documents receivable of doubtful collection. Balances that in the previous year did not show movement and there is no evidence of the possibility of collection must be recognized as losses in the exercise in which such event is determined.

SUB-SUBACCOUNT 1147000 ORIGINATORS
SUB-SUBACCOUNT 1147010 SECURITIZATION FUNDS
SUB-SUBACCOUNT 1147020 BROKERAGE HOUSES
SUB-SUBACCOUNT 1147040 INVESTORS
SUB-SUBACCOUNT 1147050 STOCK EXCHANGE
SUB-SUBACCOUNT 1147060 CENTRAL DEPOSIT AND CUSTODY OF SECURITIES SUB-SUBACCOUNT 1147070 OTHER ACCOUNTS RECEIVABLE

CHARGES:

For the write-off of accounts classified as uncollectable and for the reversal
of provisions that turn out to be excessive or improper.

CREDITS:

For the constitution of provisions for accounts classified as doubtful
collectability.

ACCOUNT 115 ACCOUNTS AND DOCUMENTS RECEIVABLE
RELATED

DESCRIPTION:
This account records the rights of the entity, which the entity will soon collect from companies, employees, shareholders and others with whom it is related.

SUB-ACCOUNT 1150 ACCOUNTS AND DOCUMENTS RECEIVABLE FROM EMPLOYEES SUB-SUBACCOUNT 1150000 SALARY ADVANCES SUB-SUBACCOUNT 1150010 SHORT-TERM LOANS SUB-SUBACCOUNT 1150020 OTHERS

SUB-ACCOUNT 1151 ACCOUNTS AND DOCUMENTS RECEIVABLE FROM DIRECTORS AND SHAREHOLDERS SUB-SUBACCOUNT 1151000 LOANS TO DIRECTORS SUB-SUBACCOUNT 1151010 LOANS TO SHAREHOLDERS SUB-SUBACCOUNT 1151020 OTHERS

SUB-ACCOUNT 1152 ACCOUNTS AND DOCUMENTS RECEIVABLE FROM RELATED COMPANIES SUB-SUBACCOUNT 1152000 LOANS SUB-SUBACCOUNT 1152010 SERVICE COMMISSIONS SUB-SUBACCOUNT 1152020 OTHERS

CHARGES:

For the rights of the entity with related parties.

For the transfer of related accounts and documents receivable considered
doubtful collectability.

CREDITS:

For the credits or payments received by the entity from related parties.
For the partial or total collection of accounts of doubtful collectability.
For the write-off of accounts classified as uncollectable.

SUB-ACCOUNT 1153 (ESTIMATE FOR UNCOLLECTABLE ACCOUNTS) SUB-SUBACCOUNT 1153000 ACCOUNTS AND DOCUMENTS RECEIVABLE FROM EMPLOYEES SUB-SUBACCOUNT 1153010 ACCOUNTS AND DOCUMENTS RECEIVABLE FROM DIRECTORS AND SHAREHOLDERS SUB-SUBACCOUNT 1153020 ACCOUNTS AND DOCUMENTS RECEIVABLE FROM RELATED COMPANIES

CHARGES:

For the write-off of accounts classified as uncollectable, for the reversal
of provisions that turn out to be excessive or improper.

CREDITS:

For the constitution of provisions for accounts classified as doubtful
collectability.

ACCOUNT 116 EXCESS OF SECURITIZATION FUNDS

DESCRIPTION:
This account records the recognition of the withdrawal of excesses that the Securitization Company will make from the securitized funds, for the following cases and at the time indicated: (i) the withdrawal of excesses that the Securitization Company will make once the full payment of the securitized values that were issued against a securitized fund has been made and any other preferential obligation to the withdrawal of excesses has been fulfilled, according to what is stated in the securitization contract of the respective securitized fund; (ii) those early withdrawals of excesses that the Securitization Company will make, once the Representative of the Holders of Secured Values approves these withdrawals. Such registration must be made in the exercise in which the Representative approves said withdrawal.

SUB-ACCOUNT 1160 EXCESS OF SECURITIZATION FUNDS

SUB-SUBACCOUNT 1160000 EXCESS OF SECURITIZATION FUNDS

CHARGES:

For the rights of excesses generated, once the full payment of the securitized values that were issued against a securitized fund has been made and any other preferential obligation to the withdrawal of excesses has been fulfilled, according to what is stated in the securitization contract of the respective securitized fund.
For the rights of excesses withdrawn early by the
Securitization Company with the approval of the Representative of the Holders.

CREDITS:

For the receipt of the remnants originated once the debt titles of Securitization issued against a securitization fund have been paid.

ACCOUNT 117 YIELDS RECEIVABLE

DESCRIPTION:
This account records the yields accrued by reason of interest receivable on deposited, invested or lent capital and the rights generated by participation in the profits corresponding to investments in other companies.

SUB-ACCOUNT 1170 LOCAL BANKS
SUB-SUBACCOUNT 1170000 YIELDS RECEIVABLE IN M.L.
SUB-SUBACCOUNT 1170010 YIELDS RECEIVABLE IN M.E.

SUB-ACCOUNT 1171 YIELDS RECEIVABLE FROM FINANCIAL INVESTMENTS SUB-SUBACCOUNT 1171000 INVESTMENT IN FIXED INCOME SECURITIES SUB-SUBACCOUNT 1171010 INVESTMENTS IN VARIABLE INCOME SECURITIES SUB-SUBACCOUNT 1171020 INVESTMENTS IN COLLECTIVE FUNDS SUB-SUBACCOUNT 1171030 REPURCHASE AGREEMENTS SUB-SUBACCOUNT 1171040 DERIVATIVES SUB-SUBACCOUNT 1171050 SUBSCRIPTIONS OF SECURITIES, IN PRIMARY MARKET

CHARGES:

For accrued interest and commissions pending collection.
For declared dividends pending collection.

CREDITS:

For the collection of interest and commissions, dividends and others.
For the collection of yields, interest and others.

ACCOUNT 118 TAXES

DESCRIPTION:
This account records the advance payments of income tax made by the entity, which will be applied at the close of the accounting period or exercise. As well as the fiscal credit by reason of Value Added Tax, which must be netted monthly with the debit fiscal account.

SUB-ACCOUNT 1180 VAT, FISCAL CREDIT
SUB-SUBACCOUNT 1180000 VAT, FISCAL CREDIT
SUB-SUBACCOUNT 1180010 VAT TAX IN ADVANCE BY WITHHOLDING SUB-SUBACCOUNT 1180020 VAT TAX COLLECTED SUB-SUBACCOUNT 1180030 OTHER WITHHOLDINGS

SUB-ACCOUNT 1181 INCOME TAXES
SUB-SUBACCOUNT 1181000 ADVANCE PAYMENT OF INCOME TAX SUB-SUBACCOUNT 1181010 FISCAL CREDIT OF INCOME TAX SUB-SUBACCOUNT 1181020 INCOME TAX WITHHELD

CHARGES:

For the accounting of payments made in advance of income tax.
For the amounts of VAT fiscal credits.

CREDITS:

For the settlement of income tax paid in advance at the close of the
economic exercise.
For the monthly payment, settled against the fiscal debit of the VAT generated in the
corresponding period or the generation of the remainder of the next period.

ACCOUNT 119 EXPENSES PAID IN ADVANCE

DESCRIPTION:
It comprises various expenses paid in advance for the obtaining of goods or services, which will be used or compensated at a date after the close of the exercise and which are directly related to the activity of the Securitization Companies. It includes rent and insurance paid in advance, premiums for bonds, office supplies and stationery, subscriptions paid in advance, advertising and marketing and taxes paid in advance. Whose maturity period is greater than two months.

SUB-ACCOUNT 1190 EXPENSES PAID IN ADVANCE FOR SERVICES SUB-SUBACCOUNT 1190000 RENT PAID IN ADVANCE SUB-SUBACCOUNT 1190010 INSURANCE PAID IN ADVANCE SUB-SUBACCOUNT 1190020 PREMIUMS FOR BONDS SUB-SUBACCOUNT 1190030 SUBSCRIPTIONS PAID IN ADVANCE SUB-SUBACCOUNT 1190040 ADVERTISING AND MARKETING SUB-SUBACCOUNT 1190050 COMMUNICATIONS SUB-SUBACCOUNT 1190060 AUDIT COST SUB-SUBACCOUNT 1190070 MEMBERSHIP FEES SUB-SUBACCOUNT 1190080 OTHER EXPENSES FOR SERVICES PAID ADVANCEDLY

SUB-ACCOUNT 1191 DEFERRED INCOME TAX
SUB-SUBACCOUNT 1191000 PROVISION FOR VALUATION SUB-SUBACCOUNT 1191010 OTHER PROVISIONS

SUB-ACCOUNT 1192 EXPENSES PAID IN ADVANCE IN MATERIALS SUB-SUBACCOUNT 1192000 OFFICE SUPPLIES AND STATIONERY

SUB-ACCOUNT 1193 LEASING CONTRACTS
SUB-SUBACCOUNT 1193000 LEASING CONTRACTS

SUB-ACCOUNT 1194 ASSETS FOR LEASING
SUB-SUBACCOUNT 1194000 ASSETS FOR LEASING

CHARGES:

For the disbursements made for services not yet received and not
consumed, attributable to future exercises.

CREDITS:

For the services received and consumed, attributable to future exercises.

ITEM 12 NON-CURRENT ASSET

DESCRIPTION:
It comprises the tangible properties that the entity uses for the development of its activities. They present as characteristics a relatively long useful life, are not the object of usual transfer operations and are subject to revaluations, depreciations and impairments. It also includes acquisitions, not for sale, of investments in securities or physical goods, for which the valuation criteria of Financial Investments apply. Non-current assets include, rights that do not constitute assets in the full sense of the word, such as intangible assets.

In no case can repairs, refactions and other conservation expenses that do not substantially modify the form and conditions of use of the goods be activated.

Goods with a useful life of less than one year are excluded, which by their slight importance, it is preferred to charge directly to results and whose inventory can be registered in order accounts.

For adequate presentation in the Balance Sheet, the balance of this item must be shown net of the accumulated depreciation of the accounts that integrate it.

The following accounts, sub-accounts and sub-sub-accounts correspond to this item:

ACCOUNT 120 REAL ESTATE

DESCRIPTION:
This account records the value of the land of the different real estate properties of the entity that are destined for the development of its activities.

SUB-ACCOUNT 1200 LAND
SUB-SUBACCOUNT 1200000 LAND
SUB-SUBACCOUNT 1200010 REVALUATION OF LAND
SUB-SUBACCOUNT 1200020 ACCUMULATED IMPAIRMENT OF LAND

SUB-ACCOUNT 1201 BUILDINGS
SUB-SUBACCOUNT 1201000 BUILDINGS
SUB-SUBACCOUNT 1201010 REVALUATION OF BUILDINGS SUB-SUBACCOUNT 1201020 ACCUMULATED DEPRECIATION OF BUILDINGS SUB-SUBACCOUNT 1201030 ACCUMULATED IMPAIRMENT OF BUILDINGS

SUB-ACCOUNT 1202 INSTALLATIONS
SUB-SUBACCOUNT 1202000 INSTALLATIONS
SUB-SUBACCOUNT 1202010 REVALUATION OF INSTALLATIONS SUB-SUBACCOUNT 1202020 ACCUMULATED DEPRECIATION OF INSTALLATIONS SUB-SUBACCOUNT 1202030 ACCUMULATED IMPAIRMENT OF INSTALLATIONS

CHARGES:

For the acquisition cost or fair value of real estate and
installations.
For the revalued values, according to expert appraisal and prior
approval of the supervisory body.

CREDITS:

For the sale of real estate and installations.
For the realization of the revaluations.
For the loss of value impairment produced by the amount that exceeds
by its book value to its recoverable amount.

ACCOUNT 121 FURNITURE

SUB-ACCOUNT 1210 VEHICLES

DESCRIPTION:
This sub-account records the vehicles owned by the entity, for the development of its activities, net of accumulated depreciation and impairment.

SUB-SUBACCOUNT 1210000 VEHICLES
SUB-SUBACCOUNT 1210010 REVALUATION OF VEHICLES SUB-SUBACCOUNT 1210020 ACCUMULATED DEPRECIATION OF VEHICLES SUB-SUBACCOUNT 1210030 ACCUMULATED IMPAIRMENT OF VEHICLES

SUB-ACCOUNT 1211 FURNITURE AND EQUIPMENT
DESCRIPTION:
This sub-account records furniture and equipment to be used in the operations performed by the entity; net of accumulated depreciation and impairment for furniture and equipment.

SUB-SUBACCOUNT 1211000 OFFICE FURNITURE
SUB-SUBACCOUNT 1211010 COMPUTER EQUIPMENT
SUB-SUBACCOUNT 1211020 OTHER OFFICE EQUIPMENT
SUB-SUBACCOUNT 1211030 COMMUNICATION EQUIPMENT SUB-SUBACCOUNT 1211040 SECURITY EQUIPMENT SUB-SUBACCOUNT 1211050 OTHER EQUIPMENT SUB-SUBACCOUNT 1211060 ACCUMULATED DEPRECIATION OF FURNITURE AND EQUIPMENT SUB-SUBACCOUNT 1211070 ACCUMULATED IMPAIRMENT OF FURNITURE AND EQUIPMENT

SUB-ACCOUNT 1212 ASSETS ACQUIRED UNDER FINANCIAL LEASE DESCRIPTION:
This sub-account records assets received under financial lease to be used by the entity in the development of its activities, net of accumulated depreciation and impairment for assets acquired under financial lease.

SUB-SUBACCOUNT 1212000 REAL ESTATE ACQUIRED UNDER FINANCIAL LEASE SUB-SUBACCOUNT 1212010 FURNITURE AND OFFICE EQUIPMENT ACQUIRED UNDER FINANCIAL LEASE SUB-SUBACCOUNT 1212020 TRANSPORT EQUIPMENT ACQUIRED UNDER FINANCIAL LEASE SUB-SUBACCOUNT 1212030 OTHER ASSETS ACQUIRED UNDER FINANCIAL LEASE SUB-SUBACCOUNT 1212040 ACCUMULATED DEPRECIATION OF ASSETS ACQUIRED UNDER FINANCIAL LEASE SUB-SUBACCOUNT 1212050 ACCUMULATED IMPAIRMENT OF ASSETS ACQUIRED UNDER FINANCIAL LEASE

SUB-ACCOUNT 1213 OTHER ASSETS OF DIVERSE USE
DESCRIPTION:
This sub-account records the value of artworks, library items, and other company assets, net of accumulated depreciation for other assets of diverse use.

SUB-SUBACCOUNT 1213000 ARTWORKS
SUB-SUBACCOUNT 1213010 LIBRARY
SUB-SUBACCOUNT 1213020 OTHER ASSETS
SUB-SUBACCOUNT 1213030 ACCUMULATED DEPRECIATION OF OTHER ASSETS OF DIVERSE USE SUB-SUBACCOUNT 1213040 ACCUMULATED IMPAIRMENT OF OTHER ASSETS OF DIVERSE USE

SUB-ACCOUNT 1214 INVESTMENT PROPERTIES
DESCRIPTION:
In the sub-subaccounts of this sub-account, properties (land or buildings, or part of a building, or both) must be recorded, held (by the owner or by the lessee in a financial lease), with the aim of obtaining rents or capital gains or both and not for use in the production or supply of goods and services, nor for administrative purposes, nor for sale in the ordinary course of operations. Such investment properties will be initially measured at cost; transaction costs associated with the transaction will be included in the initial valuation; after initial recognition, it will value the assets using the cost model, that is, valuation at cost less accumulated depreciation and any accumulated impairment loss.

SUB-SUBACCOUNT 1214000 LAND
SUB-SUBACCOUNT 1214010 BUILDINGS
SUB-SUBACCOUNT 1214020 ACCUMULATED DEPRECIATION OF INVESTMENT PROPERTIES SUB-SUBACCOUNT 1214030 ACCUMULATED IMPAIRMENT OF INVESTMENT PROPERTIES

DEBITS:

For the acquisition cost of movable assets.

For the accounting cost of assets acquired under financial lease.
For revalued values, according to expert appraisal and prior approval of the Superintendence of the Financial System.
The sub-subaccount corresponding to depreciation is debited when the asset that generated the depreciation is disposed of.
For the reversal of accumulated depreciation due to the withdrawal of the asset acquired under financial lease.
For the transfer to the corresponding account of accumulated depreciation upon the termination of the financial lease contract.
At the time of purchase, for its acquisition value, with credit to
In the case of impairment reversal, with credit to the income account
Depreciation will be debited in case of intention to sell by reclassifying the asset to which it is affected, crediting the account in the corresponding section.

CREDITS:

For the sale of movable assets.
For the transfer of the amount recorded for assets acquired under financial lease upon contract conclusion.
For the execution of revaluations.
The sub-subaccount corresponding to depreciation is credited for the annual depreciation of the asset, except for land, where depreciation may be recognized due to obsolescence, use, physical wear, or simply the passage of time. Artworks are not depreciated.
In the case of destruction or loss of value due to impairment, with debit to the expense account Loss from Impairment of Assets, as applicable.
It will be credited for monthly recognition, with debit to the corresponding expense accounts for Depreciations.
For the impairment loss produced by the amount exceeding its book value by its recoverable amount.

ACCOUNT 122 IMPROVEMENTS IN PROPERTY, PLANT AND EQUIPMENT DESCRIPTION:
This account records the value of improvements in the entity's properties, which are destined for the development of the company's activities. Improvements will be recorded as those expenditures that significantly prolong the life of the activated asset and represent material balances.

SUB-ACCOUNT 1220 IMPROVEMENTS
SUB-SUBACCOUNT 1220000 ON LAND
SUB-SUBACCOUNT 1220010 ON BUILDINGS
SUB-SUBACCOUNT 1220020 ON INSTALLATIONS
SUB-SUBACCOUNT 1220030 ON VEHICLES
SUB-SUBACCOUNT 1220040 IMPROVEMENTS IN OTHER ASSETS SUB-SUBACCOUNT 1220050 ACCUMULATED DEPRECIATION OF IMPROVEMENTS

DEBITS:

For improvements and capitalizable expenses that represent a higher value of the asset.
For the revaluation of assets.
For the reduction of accumulated depreciation recorded when it is taken out of use, disposed of, or sold.

CREDITS:

For the cost of withdrawn or transferred assets.
For the accounting of accumulated depreciation.

ACCOUNT 123 LONG-TERM RECEIVABLES FROM CUSTOMERS DESCRIPTION:
It comprises various rights directly related to the activity of the Securitization Companies. It includes accounts and documents receivable from Originators, Securitization Funds, Brokerage Houses, etc., for own operations and for asset securitization services operations. It includes the corresponding accounts to record items resulting from doubtful collectability. All the above accounts with a maturity greater than one year.

SUB-ACCOUNT 1230 ORIGINATORS
SUB-SUBACCOUNT 1230000
RECEPTION OF ASSETS FOR INTEGRATION OF
SECURITIZATION FUNDS
SUB-SUBACCOUNT 1230010 COMMISSIONS
SUB-SUBACCOUNT 1230020 OTHERS

SUB-ACCOUNT 1231 SECURITIZATION FUNDS

SUB-SUBACCOUNT 1231000 COMMISSIONS
SUB-SUBACCOUNT 1231010 OTHERS

SUB-ACCOUNT 1232 BROKERAGE HOUSES
SUB-SUBACCOUNT 1232000 BROKERAGE HOUSES
SUB-SUBACCOUNT 1232010 OTHERS

SUB-ACCOUNT 1233 INVESTORS
SUB-SUBACCOUNT 1233000 INVESTORS
SUB-SUBACCOUNT 1233010 OTHERS

SUB-ACCOUNT 1234 STOCK EXCHANGE
SUB-SUBACCOUNT 1234000 STOCK EXCHANGE
SUB-SUBACCOUNT 1234010 OTHERS

SUB-ACCOUNT 1235 CENTRAL DEPOSIT AND CUSTODY OF SECURITIES SUB-SUBACCOUNT 1235000 CENTRAL DEPOSIT AND CUSTODY OF SECURITIES SUB-SUBACCOUNT 1235010 OTHERS

SUB-ACCOUNT 1236 OTHER LONG-TERM RECEIVABLES
SUB-SUBACCOUNT 1236000 LOANS
SUB-SUBACCOUNT 1236010 OTHERS

SUB-ACCOUNT 1237 (ESTIMATE FOR UNCOLLECTABLE ACCOUNTS) SUB-SUBACCOUNT 1237000 ORIGINATORS SUB-SUBACCOUNT 1237010 SECURITIZATION FUNDS SUB-SUBACCOUNT 1237020 BROKERAGE HOUSES SUB-SUBACCOUNT 1237030 INVESTORS SUB-SUBACCOUNT 1237040 STOCK EXCHANGE SUB-SUBACCOUNT 1237050 CENTRAL DEPOSIT AND CUSTODY OF SECURITIES SUB-SUBACCOUNT 1237060 OTHER LONG-TERM RECEIVABLES

DEBITS:

For the rights generated by own operations and by services provided to Originators, Securitization Funds, and third parties.
For loans granted to third parties.
For payments made in excess and/or on behalf of third parties.
For the partial or total collection of accounts for which provisions for risk of uncollectability have been established.

CREDITS:

For the collection of rights.
For the collection of loans granted.
For the collection or refund of payments made in excess and/or on behalf of third parties.
For the write-off of accounts classified as uncollectable.

ACCOUNT 124 LONG-TERM RECEIVABLES FROM RELATED PARTIES DESCRIPTION:
This account records the entity's rights, which it will collect shortly from companies, employees, shareholders, and others with whom it is related, whose maturity period is greater than one year.

SUB-ACCOUNT 1240 ACCOUNTS AND DOCUMENTS RECEIVABLE FROM EMPLOYEES SUB-SUBACCOUNT 1240000 LOANS SUB-SUBACCOUNT 1240010 OTHERS

SUB-ACCOUNT 1241 ACCOUNTS AND DOCUMENTS RECEIVABLE FROM SHAREHOLDERS AND DIRECTORS SUB-SUBACCOUNT 1241000 LOANS TO DIRECTORS SUB-SUBACCOUNT 1241010 LOANS TO SHAREHOLDERS SUB-SUBACCOUNT 1241020 OTHERS

SUB-ACCOUNT 1242 ACCOUNTS AND DOCUMENTS RECEIVABLE FROM RELATED COMPANIES SUB-SUBACCOUNT 1242000 LOANS SUB-SUBACCOUNT 1242010 OTHERS

SUB-ACCOUNT 1243 (ESTIMATE FOR UNCOLLECTABLE ACCOUNTS) SUB-SUBACCOUNT 1243000 ACCOUNTS AND DOCUMENTS RECEIVABLE FROM EMPLOYEES SUB-SUBACCOUNT 1243010 ACCOUNTS AND DOCUMENTS RECEIVABLE FROM SHAREHOLDERS AND DIRECTORS SUB-SUBACCOUNT 1243020 ACCOUNTS AND DOCUMENTS RECEIVABLE FROM RELATED COMPANIES

DEBITS:

For the entity's rights with related parties.
For the transfer of related accounts and documents receivable considered doubtful.

CREDITS:

For credits or payments received by the entity from related parties.
For the write-off of RELATED ACCOUNTS AND DOCUMENTS RECEIVABLE.
For the partial or total collection of doubtful accounts.
For the write-off of accounts classified as uncollectable.

ACCOUNT 125 INTANGIBLE ASSETS
DESCRIPTION:
It is an identifiable asset, of a non-monetary nature and without physical appearance, that is held to be used in the production, supply of goods and services, to be leased to third parties, or for functions related to administration. These are those identifiable, without physical substance, used for the production or supply of goods, provision of services, or for administrative purposes, which will generate future economic benefits controlled by the entity.

SUB-ACCOUNT 1250 LICENSES AND CONCESSIONS
SUB-SUBACCOUNT 1250000 LICENSES AND CONCESSIONS SUB-SUBACCOUNT 1250010 ACCUMULATED AMORTIZATION OF LICENSES AND CONCESSIONS SUB-SUBACCOUNT 1250020 ACCUMULATED IMPAIRMENT OF LICENSES AND CONCESSIONS

SUB-ACCOUNT 1251 COMPUTER PROGRAMS

SUB-SUBACCOUNT 1251000 COMPUTER PROGRAMS
SUB-SUBACCOUNT 1251010 ACCUMULATED AMORTIZATION OF COMPUTER PROGRAMS SUB-SUBACCOUNT 1251020 ACCUMULATED IMPAIRMENT OF COMPUTER PROGRAMS

SUB-ACCOUNT 1252 FRANCHISES
SUB-SUBACCOUNT 1252000 FRANCHISES
SUB-SUBACCOUNT 1252010 ACCUMULATED AMORTIZATION OF FRANCHISES SUB-SUBACCOUNT 1252020 ACCUMULATED IMPAIRMENT OF FRANCHISES

SUB-ACCOUNT 1253 WEBSITES
SUB-SUBACCOUNT 1253000 WEBSITES
SUB-SUBACCOUNT 1253010 ACCUMULATED AMORTIZATION OF WEBSITES SUB-SUBACCOUNT 1253020 ACCUMULATED IMPAIRMENT OF WEBSITES

SUB-ACCOUNT 1254 OTHER INTANGIBLE ASSETS
SUB-SUBACCOUNT 1254000 OTHER INTANGIBLE ASSETS SUB-SUBACCOUNT 1254010 ACCUMULATED AMORTIZATION OF OTHER INTANGIBLE ASSETS SUB-SUBACCOUNT 1254020 ACCUMULATED IMPAIRMENT OF OTHER INTANGIBLE ASSETS

DEBITS:

For the accounting at cost of Intangible Assets.
For the application of accumulated amortization due to the cancellation of amortizable expenses.
When there is a reversal of impairment loss or an asset affected by impairment loss is withdrawn.

CREDITS:

When withdrawn due to sale, or abandonment.
For the accounting of accumulated amortizations.
For impairment losses established by Administration based on periodic evaluations of intangibles.
For the transfer of amortizable expenses to income accounts.

ACCOUNT 126 CONSTRUCTION WORKS IN PROGRESS
DESCRIPTION:
This account records Works in progress on assets owned by the entity. Assets included in this account are not depreciated.

SUB-ACCOUNT 1260 CONSTRUCTION WORKS IN PROGRESS SUB-SUBACCOUNT 1260000 CONSTRUCTION WORKS IN PROGRESS

DEBITS:

For construction, conditioning, or equipment costs.

CREDITS:

For the transfer to the corresponding accounts for the value recorded upon completion of the works.

ACCOUNT 127 LONG-TERM ASSETS HELD FOR SALE
DESCRIPTION:
This account will be integrated by long-term assets reclassified to this category, because Management has decided to recover them through a sales operation rather than by continuous use and by long-term assets acquired by management exclusively for the purpose of subsequent disposal. These assets will not be depreciated while classified in this category.

SUB-ACCOUNT 1270 LONG-TERM ASSETS HELD FOR SALE SUB-SUBACCOUNT 1270000 INVESTMENTS IN SUBSIDIARIES SUB-SUBACCOUNT 1270010 INVESTMENTS IN ASSOCIATES SUB-SUBACCOUNT 1270020 INVESTMENTS IN JOINT VENTURES SUB-SUBACCOUNT 1270030 ASSETS IN DISCONTINUATION SUB-SUBACCOUNT 1270040 PROPERTY, PLANT AND EQUIPMENT SUB-SUBACCOUNT 1270050 INTANGIBLE ASSETS SUB-SUBACCOUNT 1270060 ASSETS RECEIVED UNDER FINANCIAL LEASE SUB-SUBACCOUNT 1270070 ASSETS RECEIVED IN PAYMENT OR ADJUDICATED

DEBITS:

At the time of reclassification as an asset of this category or upon acquisition, with credit to the corresponding asset accounts for their net book value (book value less accumulated depreciation) from long-term where they originate, normally from the Non-current Asset group or to Cash and cash equivalents or to creditors/debtors respectively when acquired or enter the entity with this purpose.
For increases in fair value over the recorded value at the time of transfer or acquisition, crediting the account of
It will be debited in case of recognition of accrued income and not
It will be debited for the reversal of impairment, crediting account 5123010

CREDITS:

It will be credited for decreases in fair value over the recorded value at the time of transfer or acquisition, debiting the
It will be credited for its impairment
account for the amount that would have been constituted in case of revaluation adjustments.
It will be credited for dividend distributions charged to profits generated before the acquisition of the participation, with debit to cash or other asset accounts.

SECTION II
ACCOUNTING APPLICATIONS MANUAL OF LIABILITIES
ELEMENT 2 LIABILITY
DESCRIPTION:
It groups accounts that represent obligations contracted by the entity for normal business operations derived from debts from credits obtained and expenses incurred in the business operation, as well as obligations with the State, with personnel, and various provisions. It includes debts with financial institutions in the country and abroad, accounts and documents payable for own operations and for

Alameda Juan Pablo II, between 15 and 17 Av. Norte, San Salvador, El Salvador. Tel. (503) 2281-8000 www.bcr.gob.sv CNBCR-05/2025 NCF-11 ACCOUNTING MANUAL FOR ASSET SECURITIZATION COMPANIES Approval: 30/06/2025 Validity: 15/07/2025 third-party accounts, obligations with workers, obligations for taxes and contributions, debts with suppliers; and, provisions for labor obligations, other provisions, and deferred gains.

ITEM 21 CURRENT LIABILITY
DESCRIPTION:
It represents obligations owed by the entity, whose maturity is less than one year. This item corresponds to the following accounts, sub-accounts, and sub-sub-accounts:

ACCOUNT 210 LOANS AND OVERDRAFTS WITH LOCAL BANKS DESCRIPTION:
It comprises financing obtained, such as debts from short-term financings, contracted with local banking and financial institutions, under the modality of direct credits and credit lines.

SUB-ACCOUNT 2100 OVERDRAFTS WITH LOCAL BANKS
SUB-SUBACCOUNT 2100000 OVERDRAFTS FROM LOCAL BANKS SUB-SUBACCOUNT 2100010 OVERDRAFTS FROM FOREIGN BANKS

SUB-ACCOUNT 2101 LOANS FROM LOCAL BANKS
SUB-SUBACCOUNT 2101000 LOANS FROM LOCAL BANKS M.L.
SUB-SUBACCOUNT 2101010 LOANS FROM LOCAL BANKS M.E.

DEBITS:

For amortizations and cancellation of obligations from credits received.
For the cancellation of overdrafts.
For credit notes received.

CREDITS:

For the amounts of financings and credits contracted.
For overdrafts in current accounts that the entity maintains in banks.
For debit notes received.

ACCOUNT 211 CURRENT PORTION OF LONG-TERM LIABILITIES DESCRIPTION:
It represents the amount to be paid due to the maturity in the current exercise of long-term obligations.

SUB-ACCOUNT 2110 OBLIGATIONS WITH LOCAL BANKS
SUB-SUBACCOUNT 2110000 LOANS FROM LOCAL BANKS M.L.
SUB-SUBACCOUNT 2110010 LOANS FROM LOCAL BANKS M.E.

SUB-ACCOUNT 2111 LOANS FROM FOREIGN BANKS AND FINANCIAL INSTITUTIONS SUB-SUBACCOUNT 2111000 LOANS FROM FOREIGN BANKS AND FINANCIAL INSTITUTIONS M.E.

SUB-ACCOUNT 2112 OBLIGATIONS WITH OTHER INSTITUTIONS IN THE COUNTRY SUB-SUBACCOUNT 2112000 OBLIGATIONS WITH OTHER INSTITUTIONS IN THE COUNTRY

SUB-ACCOUNT 2113 OBLIGATIONS WITH OTHER FOREIGN INSTITUTIONS SUB-SUBACCOUNT 2113000 OBLIGATIONS WITH OTHER FOREIGN INSTITUTIONS

DEBITS:

For amortizations and cancellation of obligations from credits received.
For the cancellation of overdrafts.
For credit notes received.

CREDITS:

For the amounts of financings and credits contracted whose maturity will occur in the current exercise.

ACCOUNT 212 OBLIGATIONS FROM ASSET SECURITIZATION OPERATIONS

DESCRIPTION:
This account records obligations that originate in Asset Securitization operations.

SUB-ACCOUNT 2120 ORIGINATORS
SUB-SUBACCOUNT 2120000 ORIGINATORS

SUB-ACCOUNT 2121 SECURITIZATION FUNDS
SUB-SUBACCOUNT 2121000 SECURITIZATION FUNDS

SUB-ACCOUNT 2122 BROKERAGE HOUSES
SUB-SUBACCOUNT 2122000 BROKERAGE HOUSES

SUB-ACCOUNT 2123 INVESTORS
SUB-SUBACCOUNT 2123000 INVESTORS

SUB-ACCOUNT 2124 STOCK EXCHANGE
SUB-SUBACCOUNT 2124000 STOCK EXCHANGE

SUB-ACCOUNT 2125 CENTRAL DEPOSIT AND CUSTODY OF SECURITIES SUB-SUBACCOUNT 2125000 CENTRAL DEPOSIT AND CUSTODY OF SECURITIES

DEBITS:

For the accounting of payments of obligations from operations.
For payments of obligations originating from Asset Securitization services.

CREDITS:

For the accounting of obligations originating directly from Asset Securitization operations.
For the accounting of obligations originating from services received from third parties in the process of securitization operations.

ACCOUNT 213 ACCOUNTS PAYABLE

DESCRIPTION:
This account will record the entity's obligations with its personnel, remuneration, vacations, fees, and commissions.

SUB-ACCOUNT 2130 PROVISIONS FOR PAYABLE EMPLOYEE AMOUNTS SUB-SUBACCOUNT 2130000 REMUNERATIONS PAYABLE SUB-SUBACCOUNT 2130010 VACATIONS PAYABLE SUB-SUBACCOUNT 2130020 OTHER OBLIGATIONS WITH EMPLOYEES PAYABLE

SUB-ACCOUNT 2131 WITHHOLDINGS PAYABLE
SUB-SUBACCOUNT 2131000 ISSS-FSV
SUB-SUBACCOUNT 2131010 PENSION FUND ADMINISTRATORS (AFP) SUB-SUBACCOUNT 2131020 OTHER EMPLOYEE WITHHOLDINGS

SUB-ACCOUNT 2132 WITHHELD TAXES
SUB-SUBACCOUNT 2132000 INCOME TAX WITHHELD FROM EMPLOYEES SUB-SUBACCOUNT 2132010 INCOME TAX WITHHELD FOR PROFESSIONAL SERVICES SUB-SUBACCOUNT 2132020 INCOME TAX WITHHELD FROM CLIENTS SUB-SUBACCOUNT 2132030 INCOME TAX WITHHELD FROM THIRD PARTIES SUB-SUBACCOUNT 2132040 MUNICIPAL TAXES WITHHELD FROM EMPLOYEES SUB-SUBACCOUNT 2132050 VAT, WITHHELD FROM THIRD PARTIES SUB-SUBACCOUNT 2132060 VAT COLLECTED PAYABLE SUB-SUBACCOUNT 2132070 OTHER WITHHELD TAXES

SUB-ACCOUNT 2133 ACCOUNTS PAYABLE FOR SERVICES SUB-SUBACCOUNT 2133000 SERVICES PAYABLE FOR COMMUNICATION AND TELEPHONE SUB-SUBACCOUNT 2133010 SERVICES PAYABLE FOR ENERGY AND WATER SUB-SUBACCOUNT 2133020 PROFESSIONAL SERVICES PAYABLE SUB-SUBACCOUNT 2133030 RENTALS PAYABLE SUB-SUBACCOUNT 2133040 INSURANCE PAYABLE SUB-SUBACCOUNT 2133050 OTHER SERVICES PAYABLE

Alameda Juan Pablo II, entre 15 y 17 Av. Norte, San Salvador, El Salvador. Tel. (503) 2281-8000 www.bcr.gob.sv CNBCR-05/2025 NCF-11 ACCOUNTING MANUAL FOR ASSET SECURITIZATION COMPANIES Approval: 30/06/2025 Validity: 15/07/2025

SUB-ACCOUNT 2134 PROVISIONS FOR PAYABLES
SUB-SUBACCOUNT 2134000
PROVISION FOR INTEREST ON BANK LOANS PAYABLE
SUB-SUBACCOUNT 2134010 EMPLOYER CONTRIBUTION ISSS AND FSV SUB-SUBACCOUNT 2134020 EMPLOYER CONTRIBUTION TO PENSION FUND ADMINISTRATORS (AFP) SUB-SUBACCOUNT 2134030 PROVISION FOR REPO COSTS SUB-SUBACCOUNT 2134040 AUDIT COST SUB-SUBACCOUNT 2134050 MEMBERSHIP FEES SUB-SUBACCOUNT 2134060 OTHER PAYABLE ACCOUNTS SUB-ACCOUNT 2135 OTHER CREDITORS SUB-SUBACCOUNT 2135000 OTHER CREDITORS SUB-SUBACCOUNT 2135010 CASH OVERAGES CHARGES:

For the payment of remuneration payable.
For payments of rents and services.
For cash overages.
For payments of obligations with the Tax Authority, for withheld taxes.
CREDITS:
For rents and services payable.
For cash overages.
For income tax, VAT, or municipal taxes withheld from employees,
clients, and third parties.

ACCOUNT 214 ACCOUNTS PAYABLE RELATED
DESCRIPTION:
Represents the set of obligations that Asset Securitization Companies have with shareholders, directors, and related companies.

SUB-ACCOUNT 2140 ACCOUNTS PAYABLE TO DIRECTORS SUB-SUBACCOUNT 2140000 LOANS SUB-SUBACCOUNT 2140010 OTHER ACCOUNTS PAYABLE TO DIRECTORS

SUB-ACCOUNT 2141 ACCOUNTS PAYABLE TO SHAREHOLDERS SUB-SUBACCOUNT 2141000 LOANS SUB-SUBACCOUNT 2141010 OTHER ACCOUNTS PAYABLE TO SHAREHOLDERS SUB-ACCOUNT 2142 ACCOUNTS PAYABLE TO RELATED COMPANIES SUB-SUBACCOUNT 2142000 LOANS SUB-SUBACCOUNT 2142010 OTHER ACCOUNTS PAYABLE TO RELATED COMPANIES CHARGES:

For the payment of remuneration payable to shareholders, directors.
For payments of rents and services, to related companies or persons.
CREDITS:
For rents and services payable, to related companies or persons.
For obligations with related parties.

ACCOUNT 215 TAXES PAYABLE
DESCRIPTION:
This account represents obligations of immediate enforceability arising from taxes, contributions, and other levies in favor of State institutions and others borne by the entity as a tax responsible party.

SUB-ACCOUNT 2150 MUNICIPAL TAXES
SUB-SUBACCOUNT 2150000 MUNICIPAL TAXES
SUB-ACCOUNT 2151 INCOME TAX
SUB-SUBACCOUNT 2151000 INCOME TAX
SUB-ACCOUNT 2152 VAT PAYABLE
SUB-SUBACCOUNT 2152000 FISCAL VAT CREDIT
SUB-SUBACCOUNT 2152010 VAT PAYABLE

SUB-ACCOUNT 2153 OTHER TAXES
SUB-SUBACCOUNT 2153000 OTHER TAXES
CHARGES:

For the payment of taxes and contributions on one's own account.
CREDITS:
For taxes and contributions on one's own account payable.

ACCOUNT 216 DIVIDENDS PAYABLE
DESCRIPTION:
Represents profits pending distribution to shareholders, approved by the General Assembly of Shareholders.

SUB-ACCOUNT 2160 DIVIDENDS PAYABLE
SUB-SUBACCOUNT 2160000 DIVIDENDS PAYABLE
CHARGES:

For the cash and/or check payment of dividends to shareholders.
CREDITS:
For the decree of distribution of profits, formulated by the General Assembly
of Shareholders.

ACCOUNT 217 NEGOTIABLE FINANCIAL LIABILITIES
DESCRIPTION:
This category includes those financial liabilities, measured at fair value with effect on results, that meet the following conditions: a) They are acquired with the objective of realizing them in the short term; b) They are part of a portfolio of financial instruments identified and managed jointly for which there evidence of recent actions to generate short-term gains; c) Derivatives not designated as accounting hedge instruments.

Classification in this item is subject to the ease of obtaining prices for these liabilities within an active market or to the existence of a valuation methodology developed by an authorized entity, which may be adequate for assigning a fair value to such liabilities. CHARGES:

For downward fluctuations in fair value with respect to the cost
of subscription or purchase, crediting the results account within the income accounts for the difference between the fair value and said cost CREDITS:
For
For upward fluctuations in fair value with respect to the cost
of subscription or purchase, debiting the results account within the expense accounts for the difference between the fair value and said cost of
For sales, early amortizations, or write-offs from the securities portfolio, with
accounting recorded at that time.
In the case of foreign currency investments, this
account will be debited or credited by the exchange rate between the previous value and the current exchange rate

ACCOUNT 218 OTHER FINANCIAL LIABILITIES AT FAIR VALUE WITH EFFECT ON RESULTS DESCRIPTION:
This account incorporates the value of financial liability items classified from initial recognition at their fair value with effect on results. Classification in this account is subject to the ease of obtaining prices for these liabilities within an active market or to the existence of valuation methodology developed by an authorized entity, which may be adequate for assigning a fair value to such liabilities.

The entity will not reclassify a financial instrument into this category while it is in its possession or continues to be issued, nor will it remove any classified in this way to move it to a different category.

ACCOUNT 219 HEDGE FINANCIAL DERIVATIVE INSTRUMENTS DESCRIPTION:
This account will include financial derivative instruments designated as hedges of specifically identified risks that have an impact on the income statement as a consequence of variations in the fair value or cash flow of one or several specific elements or in a net investment in foreign currency, referred to as hedged items. These sub-subaccounts will be affected when, as a result of fair value adjustments, they adopt a creditor nature. If fair value hedge meets the criteria to be considered as such, it will be accounted for as follows: a) The gain or loss arising from the remeasurement of the hedging instrument will be recognized in results at the moment it is established; b) The gain or loss that arises on the hedged item that is attributable to the hedged risk will adjust the recorded value of the hedged item and will be recognized in results at the moment it is established. The recognition of the loss or gain attributable to the hedged risk in the result of the fiscal year will also apply if the hedged item is an asset available for sale.

SUB-ACCOUNT 2190 HEDGE FINANCIAL DERIVATIVE INSTRUMENTS SUB-SUBACCOUNT 2190000 FAIR VALUE HEDGE SUB-SUBACCOUNT 2190010 CASH FLOW HEDGE SUB-SUBACCOUNT 2190020 NET INVESTMENT IN FOREIGN CURRENCY HEDGE CHARGES:

It will be debited for downward fluctuations in fair value with respect
to the initial or previously measured value, crediting the results account within the income accounts with the difference between the previous measurement These amounts, once results are settled at the end of the fiscal year,

It will be debited for sales, or write-offs from the securities portfolio, with credit to the
Treasury accounts and, in case of gains, crediting the and by which it was accounted for at that time.
It will be debited for downward fluctuations in fair value with respect
to the initial or previously measured value, crediting the difference between the previous measurement and the current fair value, in the following accounts: De once results are settled at the end of the fiscal year, they will become part of the account -
For sales, or write-offs from the securities portfolio, with credit to the Treasury accounts
and, in case of gains, crediting the account or ineffective, and, in case of losses, debiting the Equity account between the sale price and by which it was accounted for at that time. CREDITS:
It will be credited for upward fluctuations in fair value with respect
to the initial or previously measured value, debiting the results account within the expense accounts with the difference between the fair value and said previous measurement, in the expense account
For upward fluctuations in fair value with respect to the initial or
previously measured value, debiting the difference between the fair value and Net Investment in Foreign Currency Hedge.

ITEM 22 NON-CURRENT LIABILITY

DESCRIPTION:
Represents the set of obligations, borne by the Securitization Company, whose maturity occurs at more than one year term. This item corresponds to the following accounts, sub-accounts, and sub-sub-accounts:

ACCOUNT 220 LONG-TERM BANK LOANS
DESCRIPTION:
Comprises financing obtained, such as debts arising from long-term financing, contracted with local and foreign banking and financial institutions, under the modality of direct credits and credit lines.

SUB-ACCOUNT 2200 OBLIGATIONS WITH LOCAL BANKS
SUB-SUBACCOUNT 2200000 DEBTS FROM LOANS
SUB-SUBACCOUNT 2200010 OTHER LONG-TERM OBLIGATIONS SUB-ACCOUNT 2201 OBLIGATIONS WITH FOREIGN BANKS AND FINANCIAL INSTITUTIONS SUB-SUBACCOUNT 2201000 DEBTS FROM LOANS SUB-SUBACCOUNT 2201010 OTHER LONG-TERM OBLIGATIONS CHARGES:

For the annual transfer, of the current maturity of obligations to the current
liability.
CREDITS:
For taking out loans or other obligations for a term greater than one year.

ACCOUNT 221 OBLIGATIONS WITH RELATED COMPANIES AT LONG TERM DESCRIPTION:
This account records long-term obligations with related companies, under the forms referred to in the item description.

SUB-ACCOUNT 2210
OBLIGATIONS WITH RELATED COMPANIES AT
LONG TERM

SUB-SUBACCOUNT 2210000 LONG-TERM LOANS
SUB-SUBACCOUNT 2210010 OTHER LONG-TERM OBLIGATIONS CHARGES:

For the annual transfer, of the current maturity of obligations to the current
liability.
For adjustments to loans.
CREDITS:
For taking out loans or other obligations for a term greater than one year
with related companies.

ACCOUNT 222 DEFERRED INCOME TAX
DESCRIPTION:
Represents temporary differences between the tax assessed in accordance with the Income Tax Law and the profit determined in accordance with International Financial Reporting Standards.

SUB-ACCOUNT 2220 DEFERRED INCOME TAX
SUB-SUBACCOUNT 2220000 DEFERRED INCOME TAX
CHARGES:

For the elimination of temporary differences between the tax paid
and the accounting tax.
CREDITS:
For the creation of temporary differences between the tax paid and the
accounting tax.

ACCOUNT 223 DEFERRED INCOME
DESCRIPTION:
This account records income that, without having been earned, has been received by the entity.

SUB-ACCOUNT 2230
DEFERRED INCOME FROM ASSET
SECURITIZATION SERVICES

SUB-SUBACCOUNT 2230000
DEFERRED INCOME FROM OPERATIONAL SERVICES OF
SECURITIZATION
SUB-ACCOUNT 2231 DEFERRED INCOME FROM OTHER OPERATIONS SUB-SUBACCOUNT 2231000 DEFERRED INCOME FROM OTHER OPERATIONS SUB-SUBACCOUNT 2231010 OTHER DEFERRED INCOME CHARGES:

For the application to results of income earned in the accounting period.
CREDITS:
For the recording of unearned income.

ACCOUNT 224 OBLIGATIONS UNDER FINANCIAL LEASE
DESCRIPTION:
Represents future payments that the entity will incur for financial leases.

SUB-ACCOUNT 2240 OBLIGATIONS UNDER FINANCIAL LEASE SUB-SUBACCOUNT 2240000 REAL ESTATE TAKEN UNDER FINANCIAL LEASE SUB-SUBACCOUNT 2240010 FURNITURE AND OFFICE EQUIPMENT TAKEN UNDER FINANCIAL LEASE SUB-SUBACCOUNT 2240020 TRANSPORT EQUIPMENT TAKEN UNDER FINANCIAL LEASE SUB-SUBACCOUNT 2240030 OTHER GOODS TAKEN UNDER FINANCIAL LEASE CHARGES:

For the payment of the financial lease.
CREDITS:
For signing financial lease contracts, in which
substantially the ownership of the asset is transferred.

ACCOUNT 225 ESTIMATE FOR LABOR OBLIGATIONS
DESCRIPTION:
This account records provisions for labor obligations whose payment or settlement will be made in the current or subsequent fiscal years.

SUB-ACCOUNT 2250 ESTIMATE FOR LABOR OBLIGATIONS SUB-SUBACCOUNT 2250000 ESTIMATE FOR LABOR OBLIGATIONS CHARGES:

For the decrease in provisions at the end of the accounting period.
CREDITS:
For the constitution of the provisions corresponding to the fiscal year
for social benefits and labor obligations. In accordance with the company's labor policy.

ACCOUNT 226 MINORITY INTEREST
SUB-ACCOUNT 2260 MINORITY INTEREST
SUB-SUBACCOUNT 2260000 MINORITY INTEREST

SECTION III
ACCOUNTING APPLICATIONS MANUAL OF EQUITY

ELEMENT 3 EQUITY
DESCRIPTION:
Represents the owners' participation in the entity's assets. Its amount is determined by the difference between assets and liabilities. It comprises the accumulation of shareholders' contributions, including the capitalization of profits, surpluses, and others, of a permanent nature, represented by nominal shares duly subscribed; as well as capital reserves, revaluations, and accumulated results.

ITEM 31 CAPITAL

DESCRIPTION:
Capital is represented by paid-in capital and subscribed capital, deducting from the latter subscriptions pending integration, as well as contributions from other institutions under the modality of donations. This item corresponds to the following accounts, sub-accounts, and sub-sub-accounts:

ACCOUNT 310 SOCIAL CAPITAL
DESCRIPTION:
Social capital is represented by paid-in capital and subscribed capital, deducting from the latter subscriptions pending integration. Paid-in capital constitutes the accumulation of shareholders' contributions, including the capitalization of profits, surpluses, and others, of a permanent nature, represented by nominal shares duly subscribed.

SUB-ACCOUNT 3100 MINIMUM SUBSCRIBED CAPITAL PAID SUB-SUBACCOUNT 3100000 MINIMUM SUBSCRIBED CAPITAL PAID SUB-ACCOUNT 3102 TREASURY SHARES

ACCOUNT 311 ADDITIONAL CAPITAL
DESCRIPTION:
Comprises donations and other similar contributions in favor of the entity.

SUB-ACCOUNT 3110 DONATIONS
SUB-SUBACCOUNT 3110000 DONATIONS
CHARGES:

For the capitalization of donations.
For the amounts of capital subscriptions.
For the reduction of capital duly authorized.
CREDITS:
For the amount of initial subscribed capital and subsequent contributions.
For payments made of subscribed capital.

For the capitalization of profits.
For the capitalization of reserves.
For the capitalization of obligations and others.
For donations received.

ITEM 32 CAPITAL RESERVES
DESCRIPTION:
Comprises legal and mandatory reserves as well as voluntary ones constituted with deductions from accumulated profits for specific purposes, as well as freed shares received from other companies by capitalization of revaluation. This item corresponds to the following accounts, sub-accounts, and sub-sub-accounts:

ACCOUNT 320 CAPITAL RESERVES
DESCRIPTION:
This account records the constitution of the legal reserve, through the deductions of profits in accordance with what is established by legal dispositions, and other reserves.

SUB-ACCOUNT 3200 LEGAL RESERVE
SUB-SUBACCOUNT 3200000 LEGAL RESERVE
SUB-ACCOUNT 3201 SHARE SALE PREMIUM
SUB-SUBACCOUNT 3201000 SHARE SALE PREMIUM
CHARGES:

For the capitalization of the legal reserve.
For the use stipulated by the Commercial Code.
CREDITS:
For 7% of profits before taxes.
For the premium in excess of the nominal value in the sale of shares.

ACCOUNT 321 OTHER MANDATORY RESERVES

DESCRIPTION:
This account records the constitution of reserves through the deductions of accumulated profits in accordance with what is established in the bylaws or other dispositions. It includes the amounts of increases, of participations in entities in which the entity exercises control or significant influence, by revaluation.

SUB-ACCOUNT 3210 STATUTORY RESERVES
SUB-SUBACCOUNT 3210000 STATUTORY RESERVES
SUB-ACCOUNT 3211 RESERVES FOR OTHER DISPOSITIONS SUB-SUBACCOUNT 3211000 RESERVES FOR OTHER DISPOSITIONS CHARGES:

For the capitalization of the reserve or the use thereof.
CREDITS:
For the segregation made of profits, in the amount established by
the agreement and/or bylaws.

ACCOUNT 322 VOLUNTARY RESERVES
DESCRIPTION:
This account records the constitution of reserves through the deductions of accumulated profits in accordance with what is established in board of directors agreements or general assembly of partners.

SUB-ACCOUNT 3220 VOLUNTARY RESERVES
SUB-SUBACCOUNT 3220000 VOLUNTARY RESERVES
CHARGES:

For the capitalization of the reserve or the use thereof
CREDITS:
For the segregation made of profits, in the amount established by
the agreement.

ITEM 33 REVALUATIONS
DESCRIPTION:
Comprises the higher net value assigned to the entity's fixed assets, determined as a consequence of revaluation, in accordance with the provisions of Law and the standards issued by the Committee of Standards of the Central Bank of El Salvador. This item corresponds to the following accounts, sub-accounts, and sub-sub-accounts:

ACCOUNT 330 REVALUATIONS OF REAL ESTATE
DESCRIPTION:
This account records the net result of the revaluation of real estate assets, of the entity, determined in accordance with the legal provisions referred to in the item description.

SUB-ACCOUNT 3300 REVALUATIONS OF REAL ESTATE
SUB-SUBACCOUNT 3300000 REVALUATIONS OF REAL ESTATE CHARGES:

For the capitalization of revalued values.
For the realization of revaluations, through the sale of the fixed asset that
originated it.
CREDITS:
For the difference between the historical cost and the real value of the real estate,
determined through technical appraisal and prior authorization from the Superintendence of the Financial System.

ACCOUNT 331 REVALUATIONS OF FURNITURE
DESCRIPTION:
This account records the net result of the revaluation of movable property, of the entity, determined in accordance with the legal provisions referred to in the item description.

SUB-ACCOUNT 3310 REVALUATIONS OF FURNITURE

SUB-SUBACCOUNT 3310000 REVALUATION OF FURNITURE CHARGES:

For the capitalization of revalued values.
For the realization of revaluations, through the sale of the fixed asset that originated it.
CREDITS:
For the difference between the historical cost and the real value of the furniture, determined through technical appraisal and prior authorization of the Superintendent of the Financial System.

ACCOUNT 332 REVALUATIONS OF INVESTMENTS
DESCRIPTION:
This account records the net result of the revaluation of investments held until maturity.

SUB-ACCOUNT 3320 REVALUATIONS OF INVESTMENTS
SUB-SUBACCOUNT 3320000 REVALUATIONS OF INVESTMENTS SUB-ACCOUNT 3321 FINANCIAL ASSETS AVAILABLE FOR SALE SUB-ACCOUNT 3322 CASH FLOW HEDGE SUB-ACCOUNT 3323 NET INVESTMENT HEDGE IN FOREIGN CURRENCY CHARGES:

For the recording of the loss arising from a change in the fair value corresponding to an investment available for sale.
For the realization of revaluations, through the sale of the investment that originated it.
For upward fluctuations in fair value with respect to the initial or previously measured value, crediting the difference between the fair value
For downward fluctuations in fair value with respect to the initial or previously measured value, crediting the difference between the previous measurement and the current fair value.

For upward fluctuations in fair value with respect to the initial or previously measured value, crediting the difference between the fair value
For downward fluctuations in fair value with respect to the initial or previously measured value, crediting the difference between the previous measurement and the current fair value.
CREDITS:
For the recording of the gain arising from a change in the fair value corresponding to an investment available for sale.
For the amount of revaluations, debiting the Asset account
For upward fluctuations in fair value with respect to the initial or previously measured value, debiting the difference between the fair value and
such previous measurement.
For downward fluctuations in fair value with respect to the initial or previously measured value, debiting the difference between the previous measurement
For upward fluctuations in fair value with respect to the initial or previously measured value, debiting the difference between the fair value and
such previous measurement.
For downward fluctuations in fair value with respect to the initial or previously measured value, debiting the difference between the previous measurement

ACCOUNT 333 REVALUATIONS OF LONG-TERM ASSETS
HELD FOR SALE
DESCRIPTION:
This account includes the amount of income and expenses that have been recognized directly in equity and refer to long-term assets and liabilities classified as held for sale. CHARGES:

For the recognition of losses incurred due to devaluations with
For the disposal of the asset referred to, crediting the

For the recognition of income earned from revaluations with

ITEM 34 RESULTS
DESCRIPTION:
It comprises accumulated results up to the reporting period that have not been distributed or applied. It includes undistributed profits and/or accumulated losses. This item corresponds to the following accounts, sub-accounts, and sub-sub-accounts:

ACCOUNT 340 ACCUMULATED RESULTS OF PREVIOUS YEARS DESCRIPTION:
It comprises accumulated results up to the reporting period that have not been distributed or applied. It includes undistributed profits and/or accumulated losses.

SUB-ACCOUNT 3400 ACCUMULATED PROFIT OF PREVIOUS YEARS SUB-SUBACCOUNT 3400000 PROFIT TO BE APPLIED SUB-ACCOUNT 3401 ACCUMULATED LOSS OF PREVIOUS YEARS SUB-SUBACCOUNT 3401000 ACCUMULATED LOSS OF PREVIOUS YEARS CHARGES:

For its application to Reserve accounts and/or payable dividends that apply.
For the application of accumulated profits.
For the current year losses incorporated at the beginning of the following year.
CREDITS:
For the positive results of the year debiting the Equity account
It is credited when undistributable profits move to the category of
distributable.

For the current year profit incorporated at the beginning of the following year.
For the reduction of accumulated loss.

ACCOUNT 341 RESULTS OF THE CURRENT PERIOD
DESCRIPTION:
It comprises the result obtained by the entity at the end of the accounting period or at the end of the fiscal year, which arises from the income statement, determined by the accumulation of the debit and credit balances of the accounts that constitute Expenses and Income respectively.

SUB-ACCOUNT 3410 CURRENT YEAR PROFIT
SUB-SUBACCOUNT 3410000 CURRENT YEAR PROFIT
SUB-ACCOUNT 3411 CURRENT YEAR LOSS
SUB-SUBACCOUNT 3411000 CURRENT YEAR LOSS
CHARGES:

For the current year loss arising from the income statement.
For the transfer of the current year profit to ACCUMULATED RESULTS at
the beginning of the following year.
CREDITS:
For the transfer of current year losses to ACCUMULATED RESULTS
at the beginning of the following year.
For the current year profit arising from the income statement.

ITEM 35 RESTRICTED EQUITY
DESCRIPTION:
This item collects undistributed profits.
This item corresponds to the following accounts, sub-accounts, and sub-sub-accounts:

ACCOUNT 350 RESTRICTED EQUITY
DESCRIPTION:
This account collects undistributable profits different from those listed in the epigraphs mentioned below.

When it is considered distributable, crediting the previous year profit account.
When the asset to which it applies is disposed of or written off.
It will be debited as the assets to which it was affected are realized to
apply.
It will be debited when the periodic control of receivable accounts is carried out
CREDITS:
For the amount that the entity considers undistributable, debiting the account
of previous year profits.
For the amount of the donation, debiting the corresponding asset account
according to the nature of the donation received, whether cash or other accounts of fixed assets in the case of tangible goods.
It will be credited at the end of the year for the previously mentioned balance
in case it results as a creditor, of the accounts mentioned.
It will be credited for the retention of profits, debiting the account of

ITEM 36 OPTIONS ON SHARE-BASED PAYMENTS
DESCRIPTION:
This account includes transactions arising from operations in which the entity acquires goods or services, with share-based payments, which will be settled by the delivery of equity instruments or by the option to settle them either in cash or by the issuance of equity instruments. In transactions with share-based payments settled by equity instruments, the entity values the goods or services received, as well as the corresponding increase in equity, directly at the fair value of the goods or services received, unless such value cannot be measured reliably.

Alameda Juan Pablo II, between 15 and 17 Av. Norte, San Salvador, El Salvador. Tel. (503) 2281-8000 www.bcr.gob.sv CNBCR-05/2025 NCF-11 ACCOUNTING MANUAL FOR ASSET SECURITIZATION COMPANIES Approval: 30/06/2025 Validity: 15/07/2025 This item corresponds to the following accounts, sub-accounts, and sub-sub-accounts:

ACCOUNT 360 OPTIONS ON SHARE-BASED PAYMENTS
SUB-ACCOUNT 3600 OPTIONS ON SHARE-BASED PAYMENTS SUB-SUBACCOUNT 3600000 OPTIONS ON SHARE-BASED PAYMENTS CHARGES:

For the fair value of the goods or services, debiting the following
accounts: When it concerns employee benefits, the account of results within the expense accounts will be debited in the expense account debiting the corresponding asset account. When it concerns the contracting of a service, the account of results within the expense account will be debited corresponding to the contracted service. CREDITS:
In transactions with share-based payments in which the terms
of the agreement provide the bank or the other party with the option that the entity settles the transaction in cash (or other assets) or by the issuance of equity instruments, the entity will account for that transaction, or its components, as a transaction with share-based payments to be settled in cash if, and to the extent that, the entity has incurred a liability to settle the cash or other assets, or as a transaction with share-based payments to be settled with equity instruments if, and to the extent that, no liability has been incurred.

SECTION IV
ACCOUNTING APPLICATIONS MANUAL FOR EXPENSES
ELEMENT 4 EXPENSES
DESCRIPTION:
It groups the accounts that accumulate operational expenses, financial expenses, provisions for uncollectibility and devaluation of investments, depreciation and devaluation of fixed assets and amortization of expenses, personnel and administrative expenses, extraordinary expenses and expenses of previous years, incurred by the entity during the fiscal year, which will be recorded as they are incurred or occur, regardless of the date and method of payment.

ITEM 41 OPERATING COSTS
DESCRIPTION:
It comprises expenses incurred during the period arising from services provided by Asset Securitization operations; as well as, various operational expenses related to the entity's activities, which are recorded regardless of the date and method of payment. This item corresponds to the following accounts, sub-accounts, and sub-sub-accounts:

ACCOUNT 410 OPERATING EXPENSES FOR ASSET SECURITIZATION DESCRIPTION:
This account records management expenses incurred, related to the structuring and administration operations of a securitization fund performed by the Asset Securitization Company, as well as by discounts granted.

SUB-ACCOUNT 4100
EXPENSES FOR STRUCTURING AND ADMINISTRATION
OF SECURITIZATION FUNDS
SUB-SUBACCOUNT 4100000 STRUCTURING AND INTEGRATION COSTS SUB-SUBACCOUNT 4100010 ADMINISTRATION COSTS SUB-SUBACCOUNT 4100020 OTHERS SUB-ACCOUNT 4101 EXPENSE FOR LOSS ON SALE OF ASSETS TO BE SECURITIZED SUB-SUBACCOUNT 4101000 EXPENSE FOR LOSS ON SALE OF ASSETS TO BE SECURITIZED SUB-ACCOUNT 4102 EXPENSES FOR PROVISIONS ON ASSETS TO BE SECURITIZED SUB-SUBACCOUNT 4102000 EXPENSES FOR PROVISIONS ON ASSETS TO BE SECURITIZED SUB-ACCOUNT 4103 EXPENSES FOR LOSSES IN LIQUIDATION OF GUARANTEES SUB-SUBACCOUNT 4103000 EXPENSES FOR LOSSES IN LIQUIDATION OF GUARANTEES

For the payment of various management expenses related to the segment of
operations for asset securitization services provided by the entity.
For estimates of various expenses incurred during the year,
related to the operations and activities performed by the entity.
CREDITS:
For external and period-specific adjustments.

ACCOUNT 411 GENERAL ADMINISTRATIVE AND OPERATIONAL PERSONNEL EXPENSES FOR SECURITIZATION

Alameda Juan Pablo II, between 15 and 17 Av. Norte, San Salvador, El Salvador. Tel. (503) 2281-8000 www.bcr.gob.sv CNBCR-05/2025 NCF-11 ACCOUNTING MANUAL FOR ASSET SECURITIZATION COMPANIES Approval: 30/06/2025 Validity: 15/07/2025 DESCRIPTION:
It comprises expenses incurred, provisions made, and others that are recorded on an accumulated basis, regardless of the date and method of payment, such as personnel expenses, third-party services, insurance expenses, taxes and contributions and various management charges. Incurred by the Securitization services provided.

SUB-ACCOUNT 4110 PERSONNEL EXPENSES
SUB-SUBACCOUNT 4110000 WAGES AND SALARIES OF PERSONNEL SUB-SUBACCOUNT 4110010 COMMISSIONS SUB-SUBACCOUNT 4110020 OVERTIME SUB-SUBACCOUNT 4110030 BONUS AND BONUSES SUB-SUBACCOUNT 4110040 VACATIONS SUB-SUBACCOUNT 4110050 UNIFORMS SUB-SUBACCOUNT 4110060 TRAINING SUB-SUBACCOUNT 4110070 SOCIAL BENEFITS SUB-SUBACCOUNT 4110080 INSURANCE FOR PERSONNEL SUB-SUBACCOUNT 4110090 INDEMNITIES SUB-SUBACCOUNT 4110100 SOCIAL BENEFITS SUB-SUBACCOUNT 4110110 LABOR OBLIGATIONS SUB-SUBACCOUNT 4110120 OTHER PERSONNEL BENEFITS SUB-ACCOUNT 4111 BOARD EXPENSES SUB-SUBACCOUNT 4111000 PER DIEMS SUB-SUBACCOUNT 4111010 REMUNERATIONS AND SALARIES SUB-SUBACCOUNT 4111020 ENTERTAINMENT AND REPRESENTATION SUB-SUBACCOUNT 4111030 OTHER BOARD EXPENSES SUB-ACCOUNT 4112 EXPENSES FOR SERVICES RECEIVED FROM THIRD PARTIES SUB-SUBACCOUNT 4112000 SECURITY AND PROTECTION SERVICES SUB-SUBACCOUNT 4112010 TRANSPORT SERVICES SUB-SUBACCOUNT 4112020 COMMUNICATION SERVICES SUB-SUBACCOUNT 4112030 VALUE CUSTODY SERVICES

Alameda Juan Pablo II, between 15 and 17 Av. Norte, San Salvador, El Salvador. Tel. (503) 2281-8000 www.bcr.gob.sv CNBCR-05/2025 NCF-11 ACCOUNTING MANUAL FOR ASSET SECURITIZATION COMPANIES Approval: 30/06/2025 Validity: 15/07/2025 SUB-SUBACCOUNT 4112040 INFORMATION TECHNOLOGY SERVICES SUB-SUBACCOUNT 4112050 PROFESSIONAL FEES SUB-SUBACCOUNT 4112060 PRINTING SERVICES SUB-SUBACCOUNT 4112070 ELECTRICITY AND WATER SERVICES SUB-SUBACCOUNT 4112080 EXTERNAL AUDIT SUB-SUBACCOUNT 4112090 ADVERTISING SERVICES SUB-SUBACCOUNT 4112100 CLEANING AND FUMIGATION SERVICES SUB-SUBACCOUNT 4112110 OFFICE MAINTENANCE SERVICES SUB-SUBACCOUNT 4112120 VEHICLE MAINTENANCE SERVICES SUB-SUBACCOUNT 4112130 FURNITURE AND EQUIPMENT MAINTENANCE SERVICES SUB-SUBACCOUNT 4112140 PER DIEMS SUB-SUBACCOUNT 4112150 SUBSCRIPTIONS SUB-SUBACCOUNT 4112160 FUELS AND LUBRICANTS SUB-SUBACCOUNT 4112170 CERTIFICATIONS SUB-SUBACCOUNT 4112180 OTHER EXPENSES FOR SERVICES SUB-ACCOUNT 4113 INSURANCE EXPENSES SUB-SUBACCOUNT 4113000 INSURANCE ON MONEY AND VALUES SUB-SUBACCOUNT 4113010 INSURANCE FOR PROPERTY, PLANT AND EQUIPMENT SUB-SUBACCOUNT 4113020 INSURANCE FOR DISHONESTY SUB-SUBACCOUNT 4113030 OTHER INSURANCE SUB-ACCOUNT 4114 TAXES AND CONTRIBUTIONS SUB-SUBACCOUNT 4114000 MUNICIPAL TAXES SUB-SUBACCOUNT 4114010 CONTRIBUTIONS FOR SUPERVISION BY THE SUPERINTENDENT OF THE FINANCIAL SYSTEM SUB-SUBACCOUNT 4114020 OTHER TAXES AND CONTRIBUTIONS SUB-SUBACCOUNT 4114030 STOCK EXCHANGE CONTRIBUTIONS. SUB-SUBACCOUNT 4114040 ACABOLSA CONTRIBUTIONS

For the gross amount of remuneration payable to personnel and by the
total amount of contributions accrued by the entity that fall on such remuneration.
For estimates of expenses incurred during the accounting period.
For the amount of expenses for the various concepts incurred by the
board of directors.
CREDITS:
For external and period-specific adjustments.

ACCOUNT 412 EXPENSES FOR DEPRECIATION, AMORTIZATION AND IMPAIRMENT FROM CURRENT OPERATIONS DESCRIPTION:
It comprises charges for depreciation and devaluation due to obsolescence and deterioration of fixed assets, as well as amortizations of expenses determined by the entity at the end of each accounting period.

SUB-ACCOUNT 4120 DEPRECIATION OF IMMOVABLE PROPERTY SUB-SUBACCOUNT 4120000 DEPRECIATION OF BUILDINGS SUB-SUBACCOUNT 4120010 DEPRECIATION OF INSTALLATIONS SUB-SUBACCOUNT 4120020 DEPRECIATION OF FINANCE LEASED ASSETS SUB-ACCOUNT 4121 DEPRECIATION OF MOVABLE PROPERTY SUB-SUBACCOUNT 4121000 DEPRECIATION OF FURNITURE AND EQUIPMENT SUB-SUBACCOUNT 4121010 DEPRECIATION OF TRANSPORT EQUIPMENT

Alameda Juan Pablo II, between 15 and 17 Av. Norte, San Salvador, El Salvador. Tel. (503) 2281-8000 www.bcr.gob.sv CNBCR-05/2025 NCF-11 ACCOUNTING MANUAL FOR ASSET SECURITIZATION COMPANIES Approval: 30/06/2025 Validity: 15/07/2025 SUB-SUBACCOUNT 4121020 DEPRECIATION OF OTHER USEFUL GOODS SUB-SUBACCOUNT 4121030 DEPRECIATION OF INSTALLATIONS AND IMPROVEMENTS IN PROPERTIES TAKEN ON RENT SUB-SUBACCOUNT 4121040 DEPRECIATION OF SECURITY EQUIPMENT SUB-SUBACCOUNT 4121050 DEPRECIATION OF COMMUNICATIONS EQUIPMENT SUB-ACCOUNT 4122 AMORTIZATION OF INTANGIBLE ASSETS SUB-SUBACCOUNT 4122000 AMORTIZATION OF BOURSE POSITION SUB-SUBACCOUNT 4122010 AMORTIZATION OF LICENSES AND CONCESSIONS SUB-SUBACCOUNT 4122020 AMORTIZATION OF SOFTWARE PROGRAMS SUB-SUBACCOUNT 4122030 AMORTIZATION OF FRANCHISES SUB-SUBACCOUNT 4122040 AMORTIZATION OF WEBSITES SUB-SUBACCOUNT 4122050 AMORTIZATION OF OTHER INTANGIBLES SUB-ACCOUNT 4123 IMPAIRMENT LOSSES OF ASSETS SUB-SUBACCOUNT 4123000 IMPAIRMENT OF BUILDINGS SUB-SUBACCOUNT 4123010 IMPAIRMENT OF INSTALLATIONS SUB-SUBACCOUNT 4123020 IMPAIRMENT OF FURNITURE AND EQUIPMENT SUB-SUBACCOUNT 4123030 IMPAIRMENT OF TRANSPORT EQUIPMENT SUB-SUBACCOUNT 4123040 IMPAIRMENT OF OTHER USEFUL GOODS SUB-SUBACCOUNT 4123050 IMPAIRMENT OF INSTALLATIONS AND IMPROVEMENTS IN PROPERTIES TAKEN ON RENT SUB-SUBACCOUNT 4123060 IMPAIRMENT OF SECURITY EQUIPMENT SUB-SUBACCOUNT 4123070 IMPAIRMENT OF COMMUNICATIONS EQUIPMENT SUB-SUBACCOUNT 4123080 IMPAIRMENT OF BOURSE POSITIONS SUB-SUBACCOUNT 4123090 IMPAIRMENT OF LICENSES AND CONCESSIONS SUB-SUBACCOUNT 4123100 IMPAIRMENT OF SOFTWARE PROGRAMS SUB-SUBACCOUNT 4123110 IMPAIRMENT OF FRANCHISES SUB-SUBACCOUNT 4123120 IMPAIRMENT OF WEBSITES SUB-SUBACCOUNT 4123130 IMPAIRMENT OF OTHER INTANGIBLES SUB-SUBACCOUNT 4123140 IMPAIRMENT OF FINANCE LEASED ASSETS

For the amount exceeding the book value with respect to the
recoverable value, with credit to the corresponding asset accounts.
CREDITS:
For external and period-specific adjustments.

ACCOUNT 413 DEVALUATION OF LONG-TERM ASSETS
HELD FOR SALE
DESCRIPTION:
It represents the amount of value loss of Long-Term Assets held for sale, which are maintained in subsidiaries, associates, joint ventures, assets in discontinuation, etc.

SUB-ACCOUNT 4130 DEVALUATION OF LONG-TERM ASSETS HELD FOR SALE SUB-SUBACCOUNT 4130000 INVESTMENTS IN SUBSIDIARIES SUB-SUBACCOUNT 4130010 INVESTMENTS IN ASSOCIATES SUB-SUBACCOUNT 4130020 INVESTMENTS IN JOINT VENTURES SUB-SUBACCOUNT 4130030 ASSETS IN DISCONTINUATION SUB-SUBACCOUNT 4130040 PROPERTY, PLANT AND EQUIPMENT SUB-SUBACCOUNT 4130050 INTANGIBLE ASSETS SUB-SUBACCOUNT 4130060 ASSETS RECEIVED IN FINANCE LEASE SUB-SUBACCOUNT 4130070 GOODS RECEIVED IN PAYMENT OR ADJUDICATED CHARGES:

With the value of losses from the devaluation of these assets, at the end
of each accounting period.
For losses from the devaluation of these assets, at the end of each
accounting period.

CREDITS:

For adjustments specific to the accounting period.

ITEM 42 FINANCIAL EXPENSES

DESCRIPTION:
Comprises expenses incurred during the period arising from financing obtained from financial institutions, those originated by financing via repos and financial leasing; as well as expenses arising from interest on accounts and documents payable and various financial expenses payable, regardless of the date and method of payment. It includes the corresponding accounts for the control of inter-office financial expenses.

The following accounts, sub-accounts, and sub-sub-accounts correspond to this item:

ACCOUNT 420 EXPENSES FROM OPERATIONS DUE TO FOREIGN CURRENCY EXCHANGE

DESCRIPTION:
Expenses incurred, related to foreign currency exchange service operations provided by the entity on behalf of third parties, are recorded in this account.

SUB-ACCOUNT 4200 EXPENSES FROM FOREIGN CURRENCY EXCHANGE OPERATIONS

SUB-SUB-ACCOUNT 4200000 EXPENSES FROM FOREIGN CURRENCY EXCHANGE OPERATIONS

SUB-SUB-ACCOUNT 4200010 EXCHANGE DIFFERENCE

SUB-SUB-ACCOUNT 4200020 DIFFERENCE IN FOREIGN CURRENCY PURCHASE AND SALE

DEBITS:

For exchange losses and in the purchase and sale of foreign currency.

CREDITS:

For external items and adjustments specific to the accounting period.

ACCOUNT 421 EXPENSES FROM OWN INVESTMENT OPERATIONS

DESCRIPTION:
Management expenses incurred, related to the entity's own investment operations, such as interest, commissions, etc., are recorded in this account.

SUB-ACCOUNT 4210 EXPENSES FROM INVESTMENTS IN SECURITIES

SUB-SUB-ACCOUNT 4210000 EXPENSES FROM INVESTMENTS IN FIXED INCOME SECURITIES

SUB-SUB-ACCOUNT 4210010 EXPENSES FROM INVESTMENTS IN VARIABLE INCOME SECURITIES

SUB-ACCOUNT 4211 EXPENSES FROM INVESTMENTS IN REPOS

SUB-SUB-ACCOUNT 4211000 EXPENSES FROM INVESTMENTS IN REPOS

SUB-ACCOUNT 4212 EXPENSES FROM INVESTMENTS IN PORTFOLIO MANAGEMENT

SUB-SUB-ACCOUNT 4212000 COMMISSIONS

SUB-SUB-ACCOUNT 4212010 OTHERS

DEBITS:

For payments of various management expenses related to the own investments segment.

CREDITS:

For external items and adjustments specific to the accounting period.

ACCOUNT 422 EXPENSES FROM OBLIGATIONS WITH FINANCIAL INSTITUTIONS

DESCRIPTION:
Financial expenses related to financing obtained to develop investment activities are recorded in this account.

SUB-ACCOUNT 4220 EXPENSES FROM INTEREST

SUB-SUB-ACCOUNT 4220000 EXPENSES FROM OBLIGATIONS WITH LOCAL BANKS

SUB-SUB-ACCOUNT 4220010 EXPENSES FROM OVERDRAFTS WITH LOCAL BANKS

SUB-SUB-ACCOUNT 4220020 EXPENSES FROM LOAN DEBTS WITH LOCAL BANKS

SUB-SUB-ACCOUNT 4220030 EXPENSES FROM OTHER OBLIGATIONS WITH LOCAL BANKS

SUB-SUB-ACCOUNT 4220040 EXPENSES FROM OBLIGATIONS WITH FOREIGN BANKS AND FINANCIAL ENTITIES

SUB-SUB-ACCOUNT 4220050 EXPENSES FROM OVERDRAFTS WITH FOREIGN BANKS AND FINANCIAL ENTITIES

SUB-SUB-ACCOUNT 4220060 EXPENSES FROM LOAN DEBTS WITH FOREIGN BANKS AND FINANCIAL ENTITIES

SUB-SUB-ACCOUNT 4220070 EXPENSES FROM OTHER OBLIGATIONS WITH FOREIGN BANKS AND FINANCIAL ENTITIES

DEBITS:

For interest, commissions, and expenses from financing and overdrafts.
For expenses from credit lines.
For expenses from contracted guarantees.

CREDITS:

For external items and adjustments specific to the accounting period.

ACCOUNT 423 EXPENSES FROM ACCOUNTS AND DOCUMENTS PAYABLE

DESCRIPTION:
Financial expenses, such as interest related to accounts and documents payable derived from the entity's own activities and the provision of services, are recorded in this account.

SUB-ACCOUNT 4230 FINANCIAL EXPENSES FROM STOCK MARKET OPERATIONS

SUB-SUB-ACCOUNT 4230000 EXPENSES FROM OBLIGATIONS FROM STOCK MARKET OPERATIONS

SUB-SUB-ACCOUNT 4230010 EXPENSES FROM OBLIGATIONS FROM STOCK MARKET OPERATIONS SERVICES

SUB-SUB-ACCOUNT 4230020 EXPENSES FROM OBLIGATIONS FROM TAXES AND CONTRIBUTIONS

SUB-SUB-ACCOUNT 4230030 EXPENSES FROM DIVIDENDS AND PARTICIPATIONS

SUB-SUB-ACCOUNT 4230040 EXPENSES FROM OTHER ACCOUNTS AND DOCUMENTS PAYABLE

SUB-SUB-ACCOUNT 4230050 EXPENSES FROM RELATED ACCOUNTS AND DOCUMENTS PAYABLE

DEBITS:

For interest, commissions, and expenses originated by accounts and documents receivable.

CREDITS:

For external items and adjustments specific to the accounting period.

ACCOUNT 424 EXPENSES FROM ASSETS RECEIVED UNDER FINANCIAL LEASE

DESCRIPTION:
Financial expenses, such as interest derived from obligations under financial lease, are recorded in this account.

SUB-ACCOUNT 4240 EXPENSES FROM ASSETS RECEIVED UNDER FINANCIAL LEASE

SUB-SUB-ACCOUNT 4240000 EXPENSES FROM ASSETS RECEIVED UNDER FINANCIAL LEASE

DEBITS:

For expenses derived from financial lease operations.

CREDITS:

For external items and adjustments specific to the accounting period.

ACCOUNT 425 OTHER FINANCIAL EXPENSES

DESCRIPTION:
Other financial expenses derived from credit lines, contracted guarantees, exchange difference, difference in the purchase and sale of foreign currency; as well as provisions for contingencies, commitments, and other financial expenses are recorded in this account.

SUB-ACCOUNT 4250 EXPENSES FROM CREDITS

SUB-SUB-ACCOUNT 4250000 EXPENSES FROM CREDIT LINES

SUB-SUB-ACCOUNT 4250010 EXPENSES FROM CONTRACTED GUARANTEES

SUB-ACCOUNT 4251
EXPENSES FROM CONTINGENCIES, COMMITMENTS AND
OTHERS

SUB-SUB-ACCOUNT 4251000 PROVISION FOR CONTINGENCIES

SUB-SUB-ACCOUNT 4251010 PROVISION FOR COMMITMENTS

SUB-SUB-ACCOUNT 4251020 OTHER FINANCIAL EXPENSES

DEBITS:

For expenses from contracted guarantees.
For provisions for contingencies.
For provisions for commitments.

CREDITS:

For external items and adjustments specific to the accounting period.

ACCOUNT 426 PROVISIONS FOR UNCOLLECTIBILITY AND DEVALUATION OF INVESTMENTS

DESCRIPTION:
Comprises charges for provisions for uncollectibility of accounts and documents receivable, for the devaluation of investments in securities, and for the write-off of asset returns.

SUB-ACCOUNT 4260 PROVISION FOR UNCOLLECTIBILITY OF ACCOUNTS AND DOCUMENTS RECEIVABLE

SUB-SUB-ACCOUNT 4260000
PROVISION FOR ACCOUNTS AND DOCUMENTS RECEIVABLE

SUB-ACCOUNT 4261 PROVISION FOR DEVALUATION OF ASSETS AND LIABILITIES

SUB-SUB-ACCOUNT 4261000 HELD FOR TRADING

SUB-SUB-ACCOUNT 4261010 HELD TO MATURITY

SUB-SUB-ACCOUNT 4261020 AVAILABLE FOR SALE

SUB-ACCOUNT 4262 PROVISION FOR OTHER ASSETS

SUB-SUB-ACCOUNT 4262000 PROVISION FOR OTHER ASSETS

SUB-ACCOUNT 4263 WRITE-OFF OF ASSET RETURNS

SUB-SUB-ACCOUNT 4263000 WRITE-OFF OF RETURNS FROM AVAILABLE

SUB-SUB-ACCOUNT 4263010 WRITE-OFF OF RETURNS FROM ACCOUNTS AND DOCUMENTS RECEIVABLE

SUB-SUB-ACCOUNT 4263020 WRITE-OFF OF RETURNS FROM FINANCIAL INVESTMENTS

SUB-ACCOUNT 4264 REHABILITATION OF FINANCIAL ASSETS

SUB-SUB-ACCOUNT 4264000 FINANCIAL ASSETS AVAILABLE FOR SALE

SUB-SUB-ACCOUNT 4264010 FINANCIAL ASSETS HELD TO MATURITY

SUB-SUB-ACCOUNT 4264020 FINANCIAL ASSETS HELD FOR TRADING

DEBITS:

For the charge for adjusting the provision for uncollectibility of accounts and documents receivable at the close of each accounting period.
For the charge for adjusting the provision for value fluctuation at the close of each accounting period.
For the amount of values whose redemption at maturity is not possible to effect.

CREDITS:

For external items and adjustments of the accounting period.

ACCOUNT 427 LOSSES ON SALE OF ASSETS

DESCRIPTION:
These accounts must represent the value of losses incurred in the sale of securities. The loss must be recorded when it is known, that is, even before the transaction cycle is closed in the case of repos and other stock market operations.

SUB-ACCOUNT 4270 LOSSES ON SALE OF ASSETS

SUB-SUB-ACCOUNT 4270000 TRADABLE FINANCIAL ASSETS AND LIABILITIES

SUB-SUB-ACCOUNT 4270010 FINANCIAL ASSETS AT FAIR VALUE WITH EFFECT ON RESULTS

SUB-SUB-ACCOUNT 4270020 FINANCIAL ASSETS AVAILABLE FOR SALE

SUB-SUB-ACCOUNT 4270030
FINANCIAL ASSETS HELD TO
MATURITY

DEBITS:

For the loss produced in the sale, with credit to the corresponding financial asset accounts.

CREDITS:

For external items and adjustments of the accounting period.

ITEM 43 EXTRAORDINARY EXPENSES

DESCRIPTION:
Comprises atypical and exceptional expenses produced by losses from disasters, thefts, robberies, and frauds, as well as in the sale of goods and others, in the economic years.

The following accounts, sub-accounts, and sub-sub-accounts correspond to this item:

ACCOUNT 430 EXTRAORDINARY EXPENSES

DESCRIPTION:
Atypical and exceptional expenses produced by losses from disasters, thefts, robberies, and frauds, as well as in the sale of goods and others produced in the accounting period or at the close of the year, are recorded in this account.

SUB-ACCOUNT 4300 EXTRAORDINARY EXPENSES

SUB-SUB-ACCOUNT 4300000 LOSSES FROM DISASTERS

SUB-SUB-ACCOUNT 4300010 LOSSES FROM THEFTS, ROBBERIES AND FRAUDS

SUB-SUB-ACCOUNT 4300020 LOSSES ON SALE OF GOODS

SUB-SUB-ACCOUNT 4300030 OTHER EXTRAORDINARY EXPENSES

DEBITS:

For the amount of extraordinary expenses paid or accrued by the entity.

CREDITS:

For external items and adjustments of the accounting period.

ITEM 44 INCOME TAX

DESCRIPTION:
Comprises the income tax calculated in accordance with the Law in the corresponding accounting period.

The following accounts, sub-accounts, and sub-sub-accounts correspond to this item:

ACCOUNT 440 INCOME TAX

DESCRIPTION:
Charges for income tax in the corresponding accounting period are recorded in this account.

SUB-ACCOUNT 4400 INCOME TAX

SUB-SUB-ACCOUNT 4400000 INCOME TAX

DEBITS:

For the amount of charges for income tax of the period

CREDITS:

For the amount of charges for income tax of the period

SECTION IV
ACCOUNTING APPLICATION MANUAL OF INCOME

ELEMENT 5 INCOME

DESCRIPTION:
Groups the accounts that accumulate operating income, financial income, various management income; as well as, extraordinary income and from prior years produced in the year, which are recorded as they are realized or incurred, respectively, regardless of the date and method of payment.

ITEM 51 OPERATING INCOME

DESCRIPTION:
Comprises income originated by Asset Securitization operations and other complementary services provided by the entity.

The following accounts, sub-accounts, and sub-sub-accounts correspond to this item:

ACCOUNT 510 INCOME FROM ASSET SECURITIZATION

DESCRIPTION:
Represents income from commissions for the structuring and administration of Securitization Funds.

SUB-ACCOUNT 5100 INCOME FROM STRUCTURING AND
ADMINISTRATION SERVICES OF SEPARATE ESTATES

SUB-SUB-ACCOUNT 5100000 INCOME FROM STRUCTURING AND INTEGRATION

SUB-SUB-ACCOUNT 5100010 INCOME FROM ADMINISTRATION

SUB-SUB-ACCOUNT 5100020 OTHERS

SUB-ACCOUNT 5101 INCOME FROM SALE OF ASSETS TO SECURITIZE

SUB-SUB-ACCOUNT 5101000 INCOME FROM SALE OF ASSETS TO SECURITIZE

SUB-ACCOUNT 5102 INCOME FROM INTEREST ON ASSETS TO SECURITIZE

SUB-SUB-ACCOUNT 5102000 INCOME FROM INTEREST ON ASSETS TO SECURITIZE

DEBITS:

For external items and adjustments at the close of the accounting period.

CREDITS:

For the amounts of income from Asset Securitization service operations, such as commissions, fees, etc.

ACCOUNT 511 INCOME FROM EXCESSES OF SECURITIZATION FUNDS

DESCRIPTION:
This account records the income generated by the recognition of withdrawals of excesses that the securitization company will make from the securitized funds, for the following cases and at the time indicated: (i) the withdrawal of

Alameda Juan Pablo II, between 15 and 17 Av. Norte, San Salvador, El Salvador. Tel. (503) 2281-8000 www.bcr.gob.sv CNBCR-05/2025 NCF-11 ACCOUNTING MANUAL FOR ASSET SECURITIZATION COMPANIES Approval: 30/06/2025 Validity: 15/07/2025 excesses that the Securitizer will make once the full payment of the securitized values that were issued against a securitized fund has been made and any other obligation prior to the withdrawal of excesses has been fulfilled, according to what is stated in the securitization contract of the respective securitized fund; (ii) those advance withdrawals of excesses that the Securitizer will make, once the Representative of the Holders of Securitized Values approves these withdrawals. Such recording must be made in the exercise in which the Representative approves said withdrawal.

SUB-ACCOUNT 5110 INCOME FROM EXCESSES OF SECURITIZATION FUNDS

SUB-SUB-ACCOUNT 5110000
INCOME FROM EXCESSES OF SECURITIZATION FUNDS

DEBITS:

For any adjustment in the receipt of remnants originated once the debt titles of securitization issued against a securitization fund have been paid.

CREDITS:

For the recognition of income from excess rights generated, once the full payment of the securitized values that were issued against a securitized fund has been made and any other obligation prior to the withdrawal of excesses has been fulfilled, according to what is stated in the securitization contract of the respective securitized fund.
For the recognition of income from excess rights withdrawn in advance by the Securitizer with the approval of the Representative of the Holders.

ACCOUNT 512 DIVERSE INCOME

DESCRIPTION:
Represents the income that the Securitizer receives for concepts other than Securitization and Asset Administration services.

SUB-ACCOUNT 5120 DIVERSE INCOME

SUB-SUB-ACCOUNT 5120000 INCOME FROM TRAINING

SUB-SUB-ACCOUNT 5120010 INCOME FROM RECOVERY OF EXPENSES

SUB-SUB-ACCOUNT 5120020 OTHER DIVERSE INCOME

SUB-ACCOUNT 5122 REVERSALS OF IMPAIRMENT OF NON-CURRENT ASSETS

SUB-SUB-ACCOUNT 5122000 REVERSALS OF IMPAIRMENT OF NON-CURRENT ASSETS

SUB-ACCOUNT 5123 OTHER INCOME

SUB-SUB-ACCOUNT 5123000
REVERSAL FOR IMPAIRMENT OF ASSETS AND LIABILITIES FINANCIAL

SUB-SUB-ACCOUNT 5123010
CHANGES IN FAIR VALUE OF ASSETS AND
FINANCIAL LIABILITIES

SUB-SUB-ACCOUNT 5123020
GAINS ON SALE OF FINANCIAL INVESTMENTS

DEBITS:

For external items and adjustments at the close of the accounting period.

CREDITS:

For the amounts of income from service operations to third parties.

ITEM 52 FINANCIAL INCOME

DESCRIPTION:
Comprises financial income in the form of interest from the entity's financial resource placement activity, from the returns on liquidity, financial investments, accounts and documents receivable, and other financial income. It includes the accounts for the control of inter-office income.

The following accounts, sub-accounts, and sub-sub-accounts correspond to this item:

ACCOUNT 520 FOREIGN CURRENCY PURCHASE AND SALE OPERATIONS

DESCRIPTION:
Income originated by foreign currency exchange operations developed by the entity is recorded in this account.

SUB-ACCOUNT 5200 INCOME FROM FOREIGN CURRENCY EXCHANGE

SUB-SUB-ACCOUNT 5200000
INCOME FROM FOREIGN CURRENCY EXCHANGE
OPERATIONS

SUB-SUB-ACCOUNT 5200010 EXCHANGE DIFFERENCE

SUB-SUB-ACCOUNT 5200020
DIFFERENCE IN THE PURCHASE AND SALE OF FOREIGN CURRENCY

DEBITS:

For external items and adjustments at the close of the accounting period.

CREDITS:

For the gain from exchange difference.

ACCOUNT 521 INCOME FROM FINANCIAL INVESTMENTS

DESCRIPTION:
Represents the set of income received by the Asset Securitization Company, as a result of its financial investments, classified according to whether the income is taxable or exempt from income tax.

SUB-ACCOUNT 5210 INCOME TAXABLE FOR INCOME TAX

SUB-SUB-ACCOUNT 5210000 INCOME FROM INVESTMENT OPERATIONS IN FIXED INCOME SECURITIES

SUB-SUB-ACCOUNT 5210010 INCOME FROM INVESTMENT OPERATIONS IN VARIABLE INCOME SECURITIES

SUB-SUB-ACCOUNT 5210020 INCOME FROM INVESTMENT OPERATIONS IN REPOS

SUB-SUB-ACCOUNT 5210030 INCOME FROM INVESTMENT OPERATIONS IN PORTFOLIO MANAGEMENT

SUB-SUB-ACCOUNT 5210040 OTHERS

SUB-ACCOUNT 5211 INCOME EXEMPT FROM INCOME TAX

SUB-SUB-ACCOUNT 5211000 INCOME FROM INVESTMENT OPERATIONS IN FIXED INCOME SECURITIES

SUB-SUB-ACCOUNT 5211010 INCOME FROM INVESTMENT OPERATIONS IN

REPOS

SUB-SUB-ACCOUNT 5211020 INCOME FROM INVESTMENT OPERATIONS IN PORTFOLIO MANAGEMENT

SUB-SUB-ACCOUNT 5211030 OTHERS

SUB-ACCOUNT 5212 INCOME FROM INTEREST

SUB-SUB-ACCOUNT 5212000 INTEREST AND DIVIDENDS FROM THE FINANCIAL INVESTMENT PORTFOLIO

DEBITS:

For correction of accounting errors.
For settlement of the account.

CREDITS:

For the recognition of income resulting from investments made.

ACCOUNT 522 INCOME FROM ACCOUNTS AND DOCUMENTS RECEIVABLE

DESCRIPTION:
Income accrued during the period in the form of interest, originated by the operations included in the accounts and documents receivable item, is recorded in this account.

SUB-ACCOUNT 5220 RETURNS FROM ACCOUNTS AND DOCUMENTS RECEIVABLE

SUB-SUB-ACCOUNT 5220000 INTEREST

SUB-SUB-ACCOUNT 5220010 LATE PAYMENT

DEBITS:

For the accumulations of the accounting period, including the corresponding adjustments.

CREDITS:

For the amounts collected corresponding to uncollectible or written-off accounts and documents receivable.

ACCOUNT 523 RECOVERY OF FINANCIAL ASSETS

DESCRIPTION:
Comprises income attributable to the exercise in the form of recovery of financial assets considered uncollectible. It includes the decrease in provisions for accounts and documents receivable and financial investments, as well as the recovery of accounts and documents receivable and financial investments that had been written off.

SUB-ACCOUNT 5230 RECOVERY OF FINANCIAL ASSETS

SUB-SUB-ACCOUNT 5230000 RECOVERY OF FINANCIAL ASSETS

SUB-ACCOUNT 5231
DECREASE IN PROVISIONS FOR ACCOUNTS AND
DOCUMENTS RECEIVABLE AND INVESTMENTS

SUB-SUB-ACCOUNT 5231000 DECREASE IN PROVISIONS FOR ACCOUNTS AND DOCUMENTS RECEIVABLE

SUB-SUB-ACCOUNT 5231010 DECREASE IN PROVISIONS FOR FINANCIAL INVESTMENTS

DEBITS:

For the accumulations of the accounting period, including the corresponding adjustments.

CREDITS:

For the decrease in provisions for accounts and documents receivable and financial investments.

ACCOUNT 524 OTHER FINANCIAL INCOME

DESCRIPTION:
Income accrued during the period in the form of exchange difference and differential in the purchase and sale, originated by operations developed in foreign currency, is recorded in this account.

SUB-ACCOUNT 5240 OTHER FINANCIAL INCOME

SUB-SUB-ACCOUNT 5240000 OTHER FINANCIAL INCOME

DEBITS:

For the accumulations of the accounting period, including the corresponding adjustments.

CREDITS:

For inter-office financial income.

ITEM 53 EXTRAORDINARY INCOME

DESCRIPTION:
Comprises income generated by operations other than those that the entity usually carries out, such as the sale of Property, Plant and Equipment goods and other extraordinary income.

The following accounts, sub-accounts, and sub-sub-accounts correspond to this item:

ACCOUNT 530 EXTRAORDINARY INCOME

DESCRIPTION:
Income generated by operations other than those that the entity usually carries out, such as the sale of fixed asset goods and other extraordinary income, is recorded in this account.

SUB-ACCOUNT 5300 EXTRAORDINARY INCOME

SUB-SUB-ACCOUNT 5300000 GAINS FROM SALES OF GOODS

SUB-SUB-ACCOUNT 5300010 OTHER EXTRAORDINARY INCOME

DEBITS:

For the accumulations of the accounting period, including the corresponding adjustments.

CREDITS:

For the realization of profit in the sale of movable and immovable goods and extraordinary events in accordance with International Financial Reporting Standards (IFRS).

SECTION VI
ACCOUNTING APPLICATION MANUAL OF OWN COMMITMENT CONTINGENCIES AND CONTROL

ELEMENT 6
OWN COMMITMENT CONTINGENCIES AND CONTROL

DESCRIPTION:
Groups debtor and creditor accounts by those operations in which the entity's obligation is conditioned on whether a future event occurs or not, depending on future factors that may result in the loss of an asset or the accumulation of a liability. The referred operations give rise to a legal relationship with third parties.

ITEM 61 DEBTOR CONTINGENT COMMITMENT ACCOUNTS

DESCRIPTION:
Contains debtor accounts for the recording of contingencies in favor of the Securitization Company. The following accounts, sub-accounts, and sub-sub-accounts correspond to this item:

ACCOUNT 610 GUARANTEES GRANTED

DESCRIPTION:
This account records guarantees granted by Securitization operations, as well as other guarantees granted by the Securitization Company, sureties, and bonds.

SUB-ACCOUNT 6100 FOR ASSET SECURITIZATION OPERATIONS SUB-ACCOUNT 6101 OTHER GUARANTEES SUB-ACCOUNT 6102 SURETIES AND BONDS GRANTED

ACCOUNT 611 LITIGATION AND LAWSUITS

DESCRIPTION:
This account records contingencies related to litigation and lawsuits that are in process.

ACCOUNT 612 SECURITIES OF SECURITIZATION FUNDS TO BE TRADED

DESCRIPTION:
Records securities that are backed by a Securitization Fund and are pending placement in an organized trading system.

ACCOUNT 613 OTHER CONTINGENCIES AND COMMITMENTS

DESCRIPTION:
This account records other contingencies or commitments in favor of the Securitization Company, not contemplated in the previous ones.

SUB-ACCOUNT 6130 SECURITIZATION OPERATIONS
SUB-ACCOUNT 6131 OTHERS

ACCOUNT 614 REPO OPERATIONS

DESCRIPTION:
A control account that reflects the right to repurchase securities, sold in sale repo operations, as well as controlling the obligation to sell securities in purchase repo operations in which the Asset Securitization Company is the buying entity.

SUB-ACCOUNT 6140 RIGHT OF REPURCHASE FOR SALES REPOS SUB-ACCOUNT 6141 RIGHTS TO RECEIVE IN CASH, FOR PURCHASE REPOS

ITEM 62 CONTROL ACCOUNTS

DESCRIPTION:
This item comprises control accounts for the company's securities and assets, which are not recorded in equity accounts due to their nature. The following accounts, sub-accounts, and sub-sub-accounts correspond to this item:

ACCOUNT 620 OWN SECURITIES AND ASSETS IN CUSTODY

DESCRIPTION:
Records the value of own securities and assets that are in the custody of an authorized institution.

SUB-ACCOUNT 6200 SECURITIES IN CUSTODY
SUB-ACCOUNT 6201 ASSETS IN CUSTODY
SUB-ACCOUNT 6202 DOCUMENTS IN CUSTODY

ACCOUNT 621 OWN SECURITIES AND ASSETS PLEDGED AS COLLATERAL

DESCRIPTION:
Records the securities and assets of the entity that have been pledged as collateral.

SUB-ACCOUNT 6210 SECURITIES
SUB-ACCOUNT 6211 TANGIBLE AND INTANGIBLE ASSETS SUB-ACCOUNT 6212 OTHER PLEDGED GUARANTEES

ACCOUNT 622 OBTAINED CREDITS NOT USED

DESCRIPTION:
Records credits obtained, but which have not yet been used, such as authorized overdrafts, loans, etc.

ACCOUNT 623 GUARANTEES RECEIVED

DESCRIPTION:
Records the value of guarantees received for operations carried out with third parties, such as loans or other operations for which the Asset Securitization Company must demand a guarantee.

SUB-ACCOUNT 6230 FIXED INCOME SECURITIES
SUB-ACCOUNT 6231 VARIABLE INCOME SECURITIES
SUB-ACCOUNT 6232 INVESTMENT YIELD

ACCOUNT 624 DIVERSE CONTROL ACCOUNTS

DESCRIPTION:
This account records the control of those assets that no longer appear in the Balance Sheet with a monetary value, but which must be controlled due to their existence or possible recovery.

SUB-ACCOUNT 6240 DEPRECIATED PROPERTY, PLANT AND EQUIPMENT SUB-ACCOUNT 6241 NON-DEPRECIABLE ASSETS SUB-ACCOUNT 6242 ACCOUNTS AND DOCUMENTS FOR COLLECTION WRITT-OFF UNCOLLECTIBLES SUB-ACCOUNT 6243 YIELDS FROM ACCOUNTS AND DOCUMENTS FOR

COLLECTION WRITT-OFF
SUB-ACCOUNT 6244
YIELDS FROM ACCOUNTS AND DOCUMENTS IN
DOUBTFUL COLLECTION

SECTION VII
MANUAL OF ACCOUNTING APPLICATIONS FOR CONTINGENT COMMITMENTS AND CREDITOR CONTROL

ELEMENT 7
CONTINGENT COMMITMENTS AND CREDITOR CONTROL

DESCRIPTION:
Represents the eventual obligations that the entity might have, by having indirectly assumed responsibility by guaranteeing third parties; by litigation and lawsuits against the entity; as well as, by obligations pending to fulfill and by developing operations in favor of third parties, which may result in the loss of an asset or the accumulation of a liability.

ITEM 71 CONTINGENT AND COMMITMENT ACCOUNTS

DESCRIPTION:
Comprises accounts for the recording of responsibility that may be held for operations related to third parties, whether these are guarantees, litigation, lawsuits, or other types of obligations. The following accounts, sub-accounts, and sub-sub-accounts correspond to this item:

ACCOUNT 710 RESPONSIBILITY FOR GUARANTEES GRANTED

DESCRIPTION:
This account records the entity's eventual obligation in favor of third parties for guarantees granted.

SUB-ACCOUNT 7100
RESPONSIBILITY FOR GUARANTEES GRANTED TO
FINANCIAL INSTITUTIONS
SUB-ACCOUNT 7101
RESPONSIBILITY FOR OTHER GUARANTEES
GRANTED

ACCOUNT 711 RESPONSIBILITY FOR LITIGATION AND LAWSUITS

DESCRIPTION:
This account records the entity's eventual responsibility with third parties for litigation and

lawsuits against the entity.

SUB-ACCOUNT 7110 RESPONSIBILITY FOR LITIGATION AND LAWSUITS

ACCOUNT 712 RESPONSIBILITY FOR PRIMARY PLACEMENT COMMITMENTS

DESCRIPTION:
This account records the entity's eventual obligation with third parties, for the responsibility of primary placement commitments of securities in the securities market, which are backed by a Securitization Fund.

SUB-ACCOUNT 7120
RESPONSIBILITY FOR PRIMARY PLACEMENT OF
SECURITIES

ACCOUNT 713 RESPONSIBILITY FOR OTHER CONTINGENCIES AND COMMITMENTS

DESCRIPTION:
This account records the entity's eventual obligation with third parties, for responsibility for other contingencies and commitments not contemplated above.

SUB-ACCOUNT 7130
RESPONSIBILITY FOR PAYMENTS ON BEHALF OF
ISSUERS
SUB-ACCOUNT 7131
RESPONSIBILITY FOR OTHER CONTINGENCIES AND
COMMITMENTS

ACCOUNT 714 OBLIGATIONS AND RIGHTS FROM REPO OPERATIONS

DESCRIPTION:
Represents the counter-account of the operations registered under code 614, it contains the obligation to pay in currency for sales repos carried out, as well as the right to purchase securities, for purchase repos.

SUB-ACCOUNT 7140 OBLIGATIONS FOR SALE REPO OF SECURITIES SUB-ACCOUNT 7141 OBLIGATION TO RESALE SECURITIES, FOR PURCHASE OPERATIONS

ITEM 72 CREDITOR CONTROL ACCOUNTS

DESCRIPTION:
This item comprises the counter-control accounts for the entity's securities and assets, which by their nature are not recorded in equity accounts. The following accounts, sub-accounts, and sub-sub-accounts correspond to this item:

ACCOUNT 720 COUNTER-ACCOUNT OWN SECURITIES AND ASSETS IN CUSTODY

DESCRIPTION:
This account records the value of own securities and assets that are in the custody of an authorized institution.

ACCOUNT 721 COUNTER-ACCOUNT OWN SECURITIES AND ASSETS PLEDGED AS COLLATERAL

DESCRIPTION:
Records the securities and assets of the entity that have been pledged as collateral.

ACCOUNT 722 COUNTER-ACCOUNT OF OBTAINED CREDITS NOT USED

DESCRIPTION:
Records the responsibility for obtained credits not used.

ACCOUNT 723 RESPONSIBILITY FOR GUARANTEES RECEIVED

DESCRIPTION:
Records the responsibility that the Securitization Company has for the value of guarantees received for operations carried out, such as loans or other operations for which the Securitization Company must demand a guarantee.

ACCOUNT 724 COUNTER-ACCOUNT OF DIVERSE CONTROL ACCOUNTS

DESCRIPTION:
Records the values corresponding to accounts of goods and securities, which no longer appear in the balance sheet, but which must have control over them.

CHAPTER V
FINANCIAL STATEMENT MODELS

COMPARATIVE BALANCE SHEET
ASSET SECURITIZATION COMPANY XXX
BALANCE SHEET
AS OF XX OF XXXXXXXXX OF 2XX1-2XX0
(EXPRESSED IN THOUSANDS OF UNITED STATES DOLLARS) 2XX1 2XX0 1 ASSET 11 CURRENT ASSET US$ US$ 110 CASH AND ITS EQUIVALENTS US$ US$ 111 BANKS AND NON-BANK FINANCIAL INTERMEDIARIES US$ US$ 112 RESTRICTED AVAILABILITY 113 FINANCIAL INVESTMENTS US$ US$ 114 ACCOUNTS AND DOCUMENTS FOR COLLECTION US$ US$ 115 RELATED ACCOUNTS AND DOCUMENTS FOR COLLECTION. US$ US$ 116 EXCESSES OF SECURITIZATION FUNDS US$ US$ 117 YIELDS FOR COLLECTION US$ US$ 118 TAXES US$ US$ 119 EXPENSES PAID IN ADVANCE US$ US$ 12 NON-CURRENT ASSET US$ US$ 120 REAL ESTATE US$ US$ 121 FURNITURE US$ US$ 122 IMPROVEMENTS IN PROPERTY PLANT AND EQUIPMENT US$ US$ 123 LONG-TERM ACCOUNTS AND DOCUMENTS FOR COLLECTION FROM CLIENTS US$ US$ 124 LONG-TERM RELATED ACCOUNTS AND DOCUMENTS FOR COLLECTION US$ US$ 125 INTANGIBLE ASSETS US$ US$ 126 CONSTRUCTION WORKS IN PROCESS US$ US$ 127 LONG-TERM ASSETS HELD FOR SALE US$ US$ TOTAL ASSET US$ US$ 2 LIABILITY 21 CURRENT LIABILITY US$ US$ 210 LOANS AND OVERDRAFTS WITH LOCAL BANKS US$ US$ 211 CURRENT PORTION OF LONG-TERM LIABILITIES US$ US$ 212 OBLIGATIONS FROM ASSET SECURITIZATION OPERATIONS US$ US$ 213 ACCOUNTS PAYABLE US$ US$ 214 RELATED ACCOUNTS PAYABLE US$ US$ 215 TAXES PAYABLE US$ US$ 216 DIVIDENDS PAYABLE US$ US$ 217 NEGOTIABLE FINANCIAL LIABILITIES US$ US$

ASSET SECURITIZATION COMPANY XXX
BALANCE SHEET
AS OF XX OF XXXXXXXXX OF 2XX1-2XX0
(EXPRESSED IN THOUSANDS OF UNITED STATES DOLLARS) 2XX1 2XX0 218 OTHER FINANCIAL LIABILITIES AT FAIR VALUE WITH EFFECT ON RESULTS US$ US$ 219 HEDGING FINANCIAL DERIVATIVE INSTRUMENTS US$ US$ 22 NON-CURRENT LIABILITY US$ US$ 220 LONG-TERM BANK LOANS US$ US$ 221 LONG-TERM OBLIGATIONS WITH RELATED COMPANIES US$ US$ 222 DEFERRED INCOME TAX US$ US$ 223 DEFERRED INCOME US$ US$ 224 OBLIGATIONS UNDER FINANCIAL LEASES US$ US$ 225 ESTIMATE FOR LABOR OBLIGATIONS US$ US$ 226 MINORITY INTEREST US$ US$ 3 EQUITY 31 CAPITAL US$ US$ 310 SOCIAL CAPITAL US$ US$ 311 ADDITIONAL CAPITAL US$ US$ 32 CAPITAL RESERVES US$ US$ 320 CAPITAL RESERVES US$ US$ 321 OTHER MANDATORY RESERVES US$ US$ 322 VOLUNTARY RESERVES US$ US$ 33 REVALUATIONS US$ US$ 330 REVALUATIONS OF REAL ESTATE US$ US$ 331 REVALUATIONS OF FURNITURE US$ US$ 332 REVALUATIONS OF INVESTMENTS US$ US$ 333 REVALUATIONS OF LONG-TERM ASSETS HELD FOR SALE US$ US$ 34 RESULTS US$ US$ 340 ACCUMULATED RESULTS FROM PREVIOUS YEARS US$ US$ 341 RESULTS OF THE CURRENT PERIOD US$ US$ 35 RESTRICTED EQUITY US$ US$ 350 RESTRICTED EQUITY 36 OPTIONS ON SHARE-BASED PAYMENTS US$ US$ 360 OPTIONS ON SHARE-BASED PAYMENTS US$ US$ TOTAL LIABILITY EQUITY US$ US$ CONTINGENT COMMITMENT ACCOUNTS AND OWN CONTROL 2XX1 2XX0 6 CONTINGENT COMMITMENTS AND OWN CONTROL 61 DEBTOR CONTINGENT COMMITMENT ACCOUNTS. US$ US$ 610 GUARANTEES GRANTED US$ US$ 611 LITIGATION AND LAWSUITS US$ US$

ASSET SECURITIZATION COMPANY XXX
BALANCE SHEET
AS OF XX OF XXXXXXXXX OF 2XX1-2XX0
(EXPRESSED IN THOUSANDS OF UNITED STATES DOLLARS) 2XX1 2XX0 612 SECURITIES OF SECURITIZATION FUNDS TO BE TRADED US$ US$ 613 OTHER CONTINGENCIES AND COMMITMENTS US$ US$ 614 REPO OPERATIONS US$ US$ 62 CONTROL ACCOUNTS US$ US$ 620 OWN SECURITIES AND ASSETS IN CUSTODY US$ US$ 621 OWN SECURITIES AND ASSETS PLEDGED AS COLLATERAL US$ US$ 622 OBTAINED CREDITS NOT USED US$ US$ 623 GUARANTEES RECEIVED US$ US$ 624 DIVERSE CONTROL ACCOUNTS US$ US$ TOTAL 7 CONTINGENT COMMITMENT AND CREDITOR CONTROL 71 CONTINGENT AND COMMITMENT ACCOUNTS US$ US$ 710 RESPONSIBILITY FOR GUARANTEES GRANTED US$ US$ 711 RESPONSIBILITY FOR LITIGATION AND LAWSUITS US$ US$ 712 RESPONSIBILITY FOR PRIMARY PLACEMENT COMMITMENTS. US$ US$ 713 RESPONSIBILITY FOR OTHER CONTINGENCIES AND COMMITMENTS. US$ US$ 714 OBLIGATIONS AND RIGHTS FROM REPO OPERATIONS US$ US$ 72 CREDITOR CONTROL ACCOUNTS US$ US$ 720 COUNTER-ACCOUNT OWN SECURITIES AND ASSETS IN CUSTODY US$ US$ 721 COUNTER-ACCOUNT OWN SECURITIES AND ASSETS PLEDGED AS COLLATERAL US$ US$ 722 COUNTER-ACCOUNT OF OBTAINED CREDITS NOT USED US$ US$ 723 RESPONSIBILITY FOR GUARANTEES RECEIVED US$ US$ 724 COUNTER-ACCOUNT OF DIVERSE CONTROL ACCOUNTS US$ US$ TOTAL

COMPARATIVE INCOME STATEMENT.
ASSET SECURITIZATION COMPANY XXX
INCOME STATEMENT
PERIOD FROM XX OF XXXXXX TO XXXXX OF XXXXXXXXX OF 2XX1-2XX0 (EXPRESSED IN THOUSANDS OF UNITED STATES DOLLARS) 2XX1 2XX0 5 INCOME 51 OPERATING INCOME US$ US$ 510 INCOME FROM ASSET SECURITIZATION US$ US$ 511 INCOME FROM SECURITIZATION EXCESSES 512 DIVERSE INCOME US$ US$ 4 EXPENSES 41 OPERATING COSTS US$ US$ 410 EXPENSES FOR ASSET SECURITIZATION OPERATIONS US$ US$ 411 GENERAL ADMINISTRATIVE AND OPERATIONAL EXPENSES FOR SECURITIZATION OPERATIONS US$ US$ 412 EXPENSES FOR DEPRECIATION, AMORTIZATION AND IMPAIRMENT FOR CURRENT OPERATIONS US$ US$ 413 DEVALUATION OF LONG-TERM ASSETS HELD FOR SALE US$ US$ OPERATING RESULT US$ US$ 52 FINANCIAL INCOME US$ US$ 520 FOREIGN CURRENCY PURCHASE AND SALE OPERATIONS US$ US$ 521 INCOME FROM FINANCIAL INVESTMENTS US$ US$ 522 INCOME FROM ACCOUNTS AND DOCUMENTS FOR COLLECTION US$ US$ 523 RECOVERY OF FINANCIAL ASSETS US$ US$ 524 OTHER FINANCIAL INCOME US$ US$ US$ US$ PROFIT (LOSS) BEFORE INTEREST AND TAXES 44 INCOME TAX US$ US$ 440 INCOME TAX US$ US$ ORDINARY PROFIT AFTER TAXES US$ US$ 42 FINANCIAL EXPENSES 420 EXPENSES FOR OPERATIONS BY CHANGE OF FOREIGN CURRENCY US$ US$ 421 OPERATING EXPENSES FOR OWN INVESTMENTS US$ US$ 422 EXPENSES FOR OBLIGATIONS WITH FINANCIAL INSTITUTIONS US$ US$ 423 EXPENSES FOR ACCOUNTS AND DOCUMENTS PAYABLE US$ US$

ASSET SECURITIZATION COMPANY XXX
INCOME STATEMENT
PERIOD FROM XX OF XXXXXX TO XXXXX OF XXXXXXXXX OF 2XX1-2XX0 (EXPRESSED IN THOUSANDS OF UNITED STATES DOLLARS) 2XX1 2XX0 424 EXPENSES FOR GOODS RECEIVED IN FINANCIAL LEASE US$ US$ 425 OTHER FINANCIAL EXPENSES US$ US$ 426 PROVISIONS FOR UNCOLLECTIBILITY AND DEVALUATION OF INVESTMENTS US$ US$ 427 LOSSES ON SALE OF ASSETS US$ US$ ORDINARY PROFIT AFTER TAXES US$ US$ PROFIT (LOSS) RETAINED AT THE BEGINNING OF THE YEAR ADJUSTMENTS 53 EXTRAORDINARY INCOME US$ US$ 530 EXTRAORDINARY INCOME US$ US$ 43 EXTRAORDINARY EXPENSES US$ US$ 430 EXTRAORDINARY EXPENSES US$ US$ NET PROFIT (LOSS) US$ US$ PROFIT (LOSS) RETAINED AT THE BEGINNING OF THE YEAR US$ US$ DECLARED DIVIDENDS US$ US$ TOTAL RETAINED EARNINGS AT THE END OF THE YEAR US$ US$ EARNINGS PER SHARE EARNINGS OF THE PERIOD AND BEFORE TAXES US$ US$ EARNINGS OF THE PERIOD AND BEFORE EXTRAORDINARY ITEMS US$ US$ EARNINGS AFTER EXTRAORDINARY ITEMS US$ US$ No. OF COMMON SHARES IN CIRCULATION XXX XXX NOMINAL VALUE PER SHARE US$ US$

STATEMENT OF CHANGES IN EQUITY
ASSET SECURITIZATION COMPANY XXX
STATEMENT OF CHANGES IN EQUITY FOR THE PERIODS ...
(EXPRESSED IN THOUSANDS OF UNITED STATES DOLLARS) Capital Capital Additional Reserves Revaluations Accumulated Result Total US$ US$ US$ US$ US$ US$

Capital Increase US$ (US$) US$
Capitalization. US$ (US$) (US$) (US$) (US$) US$ Revaluation. US$ US$ Declared Dividends (US$) (US$) Result of the period. US$ US$ Others (specify) Balances at ... US$ US$ US$ US$ US$ US$

Capital Increase US$ (US$) US$ US$
Capitalization. US$ (US$) (US$) (US$) (US$) US$ Revaluation. US$ Declared Dividends (US$) (US$) Result of the period US$ US$ Others (specify) Balances at ... US$ US$ US$ US$ US$ US$

CASH FLOW STATEMENT
ASSET SECURITIZATION COMPANY

(EXPRESSED IN THOUSANDS OF UNITED STATES DOLLARS) 2XX1 2XX0 CASH FLOW FROM OPERATING ACTIVITIES Inflow from own investment operations. US$ US$ Inflow from services. US$ US$ Inflow from interest and dividends. US$ US$ Other inflows related to operation. US$ US$ (recovery of assets previously declared as loss) LESS:
Payments for own investment purchase. US$ US$
Payments for service costs. US$ US$
Payment of remuneration and social benefits. US$ US$ Payment to suppliers. US$ US$ Payment of taxes and contributions. US$ US$ Other payments related to operation. US$ US$ INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS FROM OPERATING ACTIVITY. CASH FLOW FROM INVESTING ACTIVITIES Inflows from sale of financial investments. US$ US$ Inflows from received dividends. US$ US$ Inflows from sale of real estate and equipment. US$ US$ Other income related to investment US$ US$ LESS:
Payments for purchase of Financial Investments US$ US$ Payments for purchase of real estate and equipment. US$ US$ Other outflows related to investment. US$ US$ INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS FROM INVESTING ACTIVITIES. CASH FLOW FROM FINANCING ACTIVITIES Inflow from shareholder contributions. US$ US$ Inflow from short and long-term bank loans. US$ US$ Inflow from repo operations US$ US$ Other inflows related to financing activity. US$ US$ LESS:
Amortization of obtained loans. US$ US$
Payment of dividends and other distributions. US$ US$ Other cash payments related to financing activity. US$ US$ INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS FROM FINANCING ACTIVITIES.

ASSET SECURITIZATION COMPANY

(EXPRESSED IN THOUSANDS OF UNITED STATES DOLLARS) 2XX1 2XX0 NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS.

BALANCE CASH AND CASH EQUIVALENTS AT THE BEGINNING OF THE YEAR

BALANCE CASH AND CASH EQUIVALENTS AT THE END OF THE YEAR

RECONCILIATION OF NET RESULT WITH CASH AND CASH EQUIVALENTS FROM OPERATING ACTIVITIES RESULT OF THE PERIOD PROFIT (LOSS). PLUS:
Adjustment to the result of the period: US$ US$ Provisions for uncollectibility and devaluation of investment for the period. US$ US$ Depreciation and amortization for the period. US$ US$ Various provisions for the period. US$ US$ Losses on sale of real estate and equipment. US$ US$ Others. US$ US$ LESS:
Profit on sale of real estate and equipment. US$ US$ CHARGES AND CREDITS FOR NET CHANGES IN ASSET AND LIABILITY: US$ US$ Accounts and documents for collection. US$ US$ Accounts and documents payable. US$ US$ Expenses paid in advance. US$ US$ Other assets. US$ US$ Taxes and contributions payable. US$ US$ Suppliers. US$ US$ INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS FROM OPERATING ACTIVITY. The nomenclature of the elements of this financial statement may vary, adapting it to the operations carried out by Asset Securitization Companies.

CHAPTER VI
OTHER PROVISIONS AND VALIDITY

A. SANCTIONS
Non-compliance with the provisions contained in this Accounting Manual shall be sanctioned in accordance with what is established in the Financial System Supervision and Regulation Law.

B. REPEAL
This Manual repeals the Manual and Account Catalog for Asset Securitization Companies (RCTG-6/2008), approved by the Board of Directors of the Securities Superintendence in Session No. CD-18/2008 of May 13, 2008, whose Organic Law was repealed by Legislative Decree No. 592 containing the Financial System Supervision and Regulation Law, published in Official Gazette No. 23, Volume 390, dated February 2, 2011.

C. UNFORESEEN ASPECTS
Unforeseen aspects regarding regulation in this Accounting Manual shall be resolved by the Central Reserve Bank through its Standards Committee.

D. VALIDITY
These Norms shall enter into force as of July 15, 2025.

Accounting Manual for Asset Securitization Companies

SUB-ACCOUNT 3400 ACCUMULATED PROFIT OF PREVIOUS YEARS SUB-SUBACCOUNT 3400000 PROFIT TO BE APPLIED SUB-ACCOUNT 3401 ACCUMULATED LOSS OF PREVIOUS YEARS SUB-SUBACCOUNT 3401000 ACCUMULATED LOSS OF PREVIOUS YEARS CHARGES:

Lineage: In force

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