Adjunct Superintendent Resolution for Conduct Supervision No. 023-2026-SMV/11

PERÚ Ministry of Economy and Finance

SMV
Electronically signed document under the framework of Law No. 27269, Law of Digital Signatures and Certificates, its regulations and amendments. The integrity of the document and the authorship of the signature(s) can be verified at https://apps.firmaperu.gob.pe/web/validador.xhtml Adjunct Superintendent Resolution for Conduct Supervision SMV No. 023-2026-SMV/11 Lima, May 29, 2026 Subject: To sanction EMPRESA AGROINDUSTRIAL TUMÁN S.A.A. with a total fine of 150 UIT for having committed six (06) serious infractions classified under item 2.10 of numeral 2 of Annex I of the Sanctions Regulation. Administered: EMPRESA AGROINDUSTRIAL TUMÁN S.A.A. Subject: Sanctioning Administrative Procedure Main Type: Item 2.10 numeral 2 of Annex I of the Sanctions Regulation SERIOUS INFRACTIONS File No.: 2026001599 The Adjunct Superintendent of Market Conduct Supervision VIEWED:
The administrative file No. 2026001599 containing the sanctioning administrative procedure (hereinafter, PAS) initiated by the General Superintendent of Conduct Compliance of the Securities Market Superintendence – SMV (hereinafter, the IGCC), against EMPRESA AGROINDUSTRIAL TUMÁN S.A.A. (hereinafter, Issuer); as well as Report No. 713-2026-SMV/11.2 of May 8, 2026 (hereinafter, the Report), issued by said IGCC; CONSIDERING:
I. Function and competence of the SASCM
1. That, the IGCC – the instructing body of the PAS referred to in this case–, has brought to the knowledge of the Adjunct Superintendence of Market Conduct Supervision of the SMV (hereinafter, SASCM), the PAS of administrative file No. 2026001599 with the aim that it issues a decision as the first-instance sanctioning body in said PAS. In this way, the SASCM assumes competence in observance of the exercise of the supervision function and the sanctioning faculty of the SMV established through the Concorded Single Text of its Organic Law, Decree Law No. 26126 (hereinafter, LOSMV), and the Ordered Single Text of Law No. 27444, General Administrative Procedure Law, approved by Supreme Decree No. 006-2026-JUS (hereinafter, TUO of the LPAG) 1; as well as by what is provided in the Sanctions Regulation, approved by SMV Resolution No. 035-2018-SMV/01 (hereinafter, Sanctions Regulation); and, in articles 42 and 43 of the Regulations on Organization and Functions of the SMV, approved by Supreme Decree No. 216-2011-EF (hereinafter, ROF-SMV), in the sense that it is a specific function of the SASCM, to impose sanctions in first administrative instance for the commission of infractions whose compliance control corresponds to the said Adjunct Superintendence;
2. That, the present PAS corresponds to two (2) administrative instances in accordance with article 15 of the Sanctions Regulation, and what is established in numeral 26 of article 12 of the ROF-SMV, which establish that the Superintendent of the Securities Market resolves appeals against resolutions issued in first instance by the Adjunct Superintendent of the SASCM, with the exception of single-instance procedures;
II. FACTS, CHARGES AND DEFENSES OF THE ADMINISTERED
2.1 Facts
3. That, it was evaluated whether the Issuer complied or not with presenting its financial information and annual report to the securities market;
2.2 Charges
4. That, as a result of said evaluation, through Letter No. 224-2026-SMV/11.2 (hereinafter, Letter of Charges), it was warned that the Issuer was in the quality of omitting because it had not complied with presenting its financial information to the SMV, for which the following charges were formulated to the Issuer:
1. The Individual Interim Financial Statements as of December 31, 2024 and its respective Management Report, which should have been presented no later than February 17, 2025 2; however, they have not been presented to date (Charge No. 1).
2. The Audited Individual Annual Financial Statements for the 2024 exercise and its respective Audit Report, which should have been presented no later than March 31, 2025; however, they have not been presented to date (Charge No. 2).
3. The Annual Report for the 2024 exercise which should have been presented no later than March 31, 2025; however, it has not been presented to date (Charge No. 3).

1 Through Supreme Decree No. 006-2026-JUS, published on April 30, 2026 in the Official Newspaper El Peruano, the Ordered Single Text of the Securities Market Law, Legislative Decree No. 861, was approved.
2 The presentation deadline is February 15 of each year. However, in 2025 this day fell on a non-working day, so the obligation is understood to be extended until the next working day, as established in numeral 134.2 of article 134 of the TUO of the LPAG.

PERÚ Ministry of Economy and Finance

SMV
Electronically signed document under the framework of Law No. 27269, Law of Digital Signatures and Certificates, its regulations and amendments. The integrity of the document and the authorship of the signature(s) can be verified at https://apps.firmaperu.gob.pe/web/validador.xhtml
4. The Individual Interim Financial Statements as of March 31, 2025 and its respective Management Report, which should have been presented no later than April 30, 2025; however, they have not been presented to date (Charge No. 4).
5. The Individual Interim Financial Statements as of June 30, 2025 and its respective Management Report, which should have been presented no later than July 31, 2025; however, they have not been presented to date (Charge No. 5).
6. The Individual Interim Financial Statements as of September 30, 2025 and its respective Management Report, which should have been presented no later than October 31, 2025; however, they have not been presented to date (Charge No. 6).
2.3 Defenses
5. That, the Issuer, despite being validly notified with the Charge Letter, the Issuer has not sent the corresponding defenses to the charges formulated, it being necessary to take into account that the deadline granted for the submission of its defenses has elapsed, given that the Issuer was notified on February 4, 2026, as verified from the notification certificate on file;
6. That, through Supreme Decree No. 006-2026-JUS, the Ordered Single Text of the General Administrative Procedure Law – Law No. 27444, was approved, which contains common rules for the actions of the administrative function of the State and regulates all administrative procedures developed in entities, including special procedures. Likewise, numeral 3) of article 230 of the TUO of the LPAG, points out the criteria regarding the graduation of the sanction: (a) The illicit benefit resulting from the commission of the infraction, (b) The probability of detection of the infraction, (c) The severity of the damage to the public interest and/or protected legal good, (d) The economic damage caused, (e) Recidivism, for the commission of the same infraction within a period of one (1) year from when the resolution sanctioning the first infraction became final, (f) The circumstances of the commission of the infraction; and, (g) The existence or not of intent in the conduct of the offender;
7. That, the charge formulated and the criteria regarding the graduation of the sanction have been the subject of evaluation in the Report, which has been submitted to the knowledge of the SASCM;
8. That, in observance of what is provided by numeral 5 of article 235 of the TUO of the LPAG, through Letter No. 2233-2026-SMV/11, the Report was sent to the Issuer, so that it can send its allegations within a period of five (05) working days of notification; the same that have not been presented to date;
III. QUESTIONS TO DETERMINE
9. That, in the present PAS it corresponds to determine the following:
(i) If the Issuer incurred or not in the infractions indicated in the Letter of Charges and Report; (ii) If it corresponds or not to impose a sanction on the Issuer;
IV. ANALYSIS

PERÚ Ministry of Economy and Finance

SMV
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4.1 Applicable Normativity
10. That, article 31 of the TUO LMV provides that: "What is provided in the previous article does not relieve the issuer of the timely delivery to the SMV and, if applicable, to the respective stock exchange or entity responsible for the conduct of the centralized mechanism, of the information that one or the other requires of it and, necessarily, that indicated below:
a) Its financial states and indicators, with the minimum information generally indicated by the SMV, with a frequency not greater than quarterly; and, b) Its annual report, with the minimum information generally established by the SMV. (…)". (Underline added);
11. That, articles 11, 13, 14, 15, 19 and 20 of the Standards on Preparation, Presentation and Dissemination of Financial Statements, Annual Report and Management Report, approved through SMV Resolution No. 013- 2023SMV/01, effective from December 11, 2023 (hereinafter, Standards on Preparation, Presentation and Dissemination of FS), establish that issuing companies with values registered in the Public Registry of the Securities Market - RPMV are obliged to present to the SMV audited annual individual or separate financial statements, annual reports, individual interim financial statements and management reports, having to present said financial information on the day it was approved by the corresponding body, and in no case beyond the day in which this has occurred, being the deadline for its approval and respective presentation: i) April 30, July 31, October 31 and February 15 of each year in the case of individual interim financial statements and management reports respectively and ii) March 31 of each year for audited individual annual financial statements and the annual report;
12. That, the non-presentation of financial information and annual report are classified in item 2.10 of numeral 2 of Annex I of the Sanctions Regulation, which states that it constitutes a serious infraction: "Not to communicate important facts or not to present audited individual or consolidated financial information, individual or consolidated interim financial statements, management report or special audit report and annual reports". (Underline added);
13. That, according to article 34 of the Sanctions Regulation, serious infractions are sanctionable with a fine not less than twenty-five (25) UIT and up to fifty (50) UIT;
4.2 Evaluation of the case
14. That, in the administrative file No. 2026001599, which contains the documentation of the present PAS, it is appreciated that through Memorandums No. 2330-2025-SMV/11.1 of June 11, 2025 (File No. 2025025566) and No. 4515-2025-SMV/11.1 of October 24, 2025 (File No. 2025046315), the IGSC – the body of the SMV that has within its functions and faculties, the supervision of compliance with the norms applicable to issuers with values registered in the RPMV, evaluating the indications of possible infractions, and sends, for its consideration, the respective infraction indication reports, to the IGCC–, sent to the IGCC, the result of its evaluation, and specifically what refers to the present case;
15. That, it must be taken into account that the procedures and

PERÚ Ministry of Economy and Finance

SMV
Electronically signed document under the framework of Law No. 27269, Law of Digital Signatures and Certificates, its regulations and amendments. The integrity of the document and the authorship of the signature(s) can be verified at https://apps.firmaperu.gob.pe/web/validador.xhtml legal forms with which the IGSC conducts its inspection and/or supervision activity and upon concluding it with an infraction indication report, determine that its pronouncement or opinion on a specific supervision topic – which can even contain a decision, such as the adoption of corrective measures–, is an opinion on the merits of the matter; it being necessary to specify that said opinion and the infraction indication report of the IGSC, is not binding for the IGCC, as established in the second paragraph of article 9 of the Sanctions Regulation 3;
16. That, in this way it is had that in the evaluation of the facts related to the present PAS have intervened and participated previously to the issuance of this Resolution, two (2) other administrative bodies of the SMV, functionally independent from each other and from this Office; first the IGSC which at its opportunity reported the indications of infraction and then the IGCC which, as a result of its evaluation, formulated the Letter of Charges and the Report; and at this point of the PAS it corresponds to the Office of the SASCM to issue a pronouncement containing its decision regarding the mentioned charges, it being precise to indicate that by the nature of the same, as previously stated, it will be a first-instance administrative decision;
17. That, it is worth specifying that the Issuer, by maintaining values registered in the RPMV, is obliged to observe and comply with the regime of communication and revelation of information in strict, regarding the presentation of periodic and eventual information in a clear, truthful, sufficient and timely manner;
18. That, likewise, the compliance with the obligation regarding the presentation of eventual, truthful, sufficient and timely information by issuers of values registered in the RPMV, is necessary for the transparency and proper functioning of the securities market, and in that sense the transparency of information is a protected legal good, it being necessary to point out that the non-observance of said obligation affects the good functioning of this market;
19. That, the Issuer has not presented the corresponding defenses to the charges formulated, despite having been validly notified at

3 In article 228-G. of the TUO of the LPAG it is indicated as forms or modes in which the inspection activity could conclude the following: 1) Certificate of conformity of the activity developed by the administered; 2) Recommendation of improvements or corrections of the activity developed by the administered; 3) The warning of the existence of non-compliances not susceptible of meriting the determination of administrative responsibilities; 4) The recommendation of the start of a procedure to determine the administrative responsibilities that correspond; 5) The adoption of corrective measures and 6) Other forms as established by special laws. «Article 9.- PRELIMINARY INQUIRIES AS A CONSEQUENCE OF SUPERVISION ACTIONS (…) When said bodies conclude that there are sufficient indications of possible administrative infractions they send the corresponding reports to the General Superintendencies of Compliance, which determine if it corresponds to start or not a sanctioning administrative procedure. If so, the General Superintendencies of Compliance may carry out additional inspections or investigations of the reported indications. In the case of possible infractions in the scope of the Regulation of the Participatory Financial Financing Activity and its Managing Societies, the preliminary inquiries are carried out by the General Superintendent of Investigation and Innovation, dependency that if there are sufficient indications of possible administrative infractions will determine if it corresponds to start or not a sanctioning administrative procedure. (…)».

PERÚ Ministry of Economy and Finance

SMV
Electronically signed document under the framework of Law No. 27269, Law of Digital Signatures and Certificates, its regulations and amendments. The integrity of the document and the authorship of the signature(s) can be verified at https://apps.firmaperu.gob.pe/web/validador.xhtml its domicile on February 4, 2026, which is recorded in the present file;
20. That, it must be pointed out that the Issuer, by maintaining values registered in the RPMV, is obliged to observe and comply with the regime of communication and revelation of information in strict, regarding the presentation of periodic and eventual information in a clear, truthful, sufficient and timely manner;
21. That, likewise, the compliance with the obligation regarding the presentation of timely information by issuers of values registered in the RPMV, is necessary for the transparency and proper functioning of the securities market, and in that sense the transparency of information is a protected legal good, it being necessary to point out that the non-observance of said obligation affects the good functioning of this market;
22. That, in the present case, according to the facts described in the Letter of Charges, it has been proven that the Issuer infringed the regulation by not presenting financial information and annual report according to the following detail:
1. The Individual Interim Financial Statements as of December 31, 2024 and its respective Management Report, which should have been presented no later than February 17, 2025.
2. The Audited Individual Annual Financial Statements for the 2024 exercise and its respective Audit Report, which should have been presented no later than March 31, 2025.
3. The Annual Report for the 2024 exercise which should have been presented no later than March 31, 2025.
4. The Individual Interim Financial Statements as of March 31, 2025 and its respective Management Report, which should have been presented no later than April 30, 2025.
5. The Individual Interim Financial Statements as of June 30, 2025 and its respective Management Report, which should have been presented no later than July 31, 2025.
6. The Individual Interim Financial Statements as of September 30, 2025 and its respective Management Report, which should have been presented no later than October 31, 2025.
It is worth warning that to date, Tumán has not presented its defenses, leaving on record that there are objective elements that allow deducing that to date it has a Board of Directors and new general manager, which makes it possible to comply with its information obligations for the securities market, more so when it is an open joint-stock company and has many minority shareholders;
23. That, it must take into consideration the following facts regarding the Issuer:
(i) The last Annual Report published by the Issuer was presented on April 14, 2014 referring to the 2013 exercise (File No. 2014013630). According to the same, its main shareholders, at that date, were: (i) Borlinghton Trading Corp with 10.24% of the share capital; and, (ii) Yielding Accounting Systems, Inc. with

PERÚ Ministry of Economy and Finance

SMV
Electronically signed document under the framework of Law No. 27269, Law of Digital Signatures and Certificates, its regulations and amendments. The integrity of the document and the authorship of the signature(s) can be verified at https://apps.firmaperu.gob.pe/web/validador.xhtml 9.19% of the share capital. Likewise, there are 5328 shareholders who have a holding of less than 0.2% of shares with voting rights. Below, some graphics that were included in said document:
Image No. 1: Main shareholders and percentage of shareholding of the Issuer As can be observed, the Issuer is a company with dispersed shareholding and has 5,328 minority shareholders, mentioning that Borlinghton Trading Corp with 10.24% of the share capital; and, (ii) Yielding Accounting Systems, Inc. with 9.19% of the share capital, increased their participation in the Issuer. On the other hand, according to a review of important facts communicated by the Issuer, the following information is had:
(ii) Through an important fact of February 9, 2016, the <emisor indicates the following: "YIELDING ACCOUNTING SYSTEMS, INC (15%) and BORLINGHTON TRADING CORP (14%) which was communicated on December 23, 2015; it is specified that such information is as of 31-07-2015 and that such percentages are the result of purchases and sales made in several operations and on different dates." (iii) The last important fact disseminated by the Issuer is the important fact of November 21, 2016, by which the stock exchange representative, Mr. Marcial Cabrera Ruíz, informed that on October 26, 2016, the Mixed Court of Ferreñafe issued Resolution One of file 00221-2016-67-1707-JM-CI-01 resolving, among others, the designation as Judicial Administrator of the Issuer to César Augusto Sandoval Lozada, identified with DNI 16585276. (iv) Subsequently, in accordance with item 27.1 of article 27 of the Regulation of Important Facts, five (05) letters issued by the IGSC have been disseminated as important facts, being these:

PERÚ Ministry of Economy and Finance

SMV
Electronically signed document under the framework of Law No. 27269, Law of Digital Signatures and Certificates, its regulations and amendments. The integrity of the document and the authorship of the signature(s) can be verified at https://apps.firmaperu.gob.pe/web/validador.xhtml

• Letter No. 3681-2017-SMV/11.1 of June 13, 2017, disseminated as an important fact on June 20, 2017 (File No. 2017024663), by which, among others, l

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