Authorization and Registration of Subordinated Debt Bonds Public Offering for Asociación Cibao de Ahorros y Préstamos

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FIRST RESOLUTION OF THE SUPERINTENDENCE OF THE SECURITIES MARKET OF DATE FIRST (1ST) OF JULY OF THE YEAR TWO THOUSAND TWENTY-SIX (2026) R-SIMV-2026-26-EV

Subject: Authorization and registration in the Securities Market Registry of a public offering of securities named "Subordinated Debt Bonds" in favor of Asociación Cibao de Ahorros y Préstamos (ACAP).

Viewed: The Constitution of the Dominican Republic, proclaimed on the twenty-seventh (27) day of the month of October of the year two thousand twenty-four (2024).

Viewed: Law No. 183-02, dated the twenty-first (21) of November of the year two thousand two (2002), which approves the Monetary and Financial Code of the Dominican Republic.

Viewed: Law No. 107-13, dated the sixth (6) of August of the year two thousand thirteen (2013), regarding the Rights of Persons in their Relations with the Administration and Administrative Procedure.

Viewed: Law No. 249-17, dated the nineteenth (19) of December of the year two thousand seventeen (2017), of the Securities Market of the Dominican Republic, which repeals and replaces Law No. 19-00 of the eighth (8) of May of the year two thousand (2000) (the "Law No. 249-17").

Viewed: The Third Resolution of the Monetary Board dated the thirtieth (30) of March of the year two thousand four (2004), which approves the Regulation of Prudential Norms for Capital Adequacy, and its modifications.

Viewed: The Sole Resolution of the National Securities Market Council, dated the fifteenth (15) of October of the year two thousand nineteen (2019), R-CNMV-2019-24-MV, which approves the Public Offering Regulation, modified by the Fourth Resolution of the National Securities Market Council, dated the thirteenth (13) of September of the year two thousand twenty-two (2022), R-CNMV-2022-16-MV (the "Public Offering Regulation").

Viewed: Circular C-SIMV-2020-11-MV, dated the sixth (6) of May of the year two thousand twenty (2020), which approves the Instruction Manual of the Public Offering Regulation,

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Public Offering, modified by Circular No. 01/23, dated the twelfth (12) of January of the year two thousand twenty-three (2023).

Viewed: Circular ADM: CADM-R&A-2026106111, issued by the Superintendence of Banks, on the twenty-ninth (29) of June of the year two thousand twenty-six (2026), through which it authorizes Asociación Cibao de Ahorros y Préstamos (ACAP) to proceed with the issuance of Subordinated Debt Bonds for an amount up to five billion five hundred million Dominican pesos with zero cents (DOP 5,500,000,000.00).

Viewed: The First Resolution of the Superintendence of the Securities Market, dated the thirty-first (31) of July of the year two thousand eighteen (2018), R-SIV-2018-29-EV, which approved the request for authorization and registration in the Securities Market Registry of Asociación Cibao de Ahorros y Préstamos (ACAP) as a securities issuer.

Seen: The report OP-458-26, dated the twenty-ninth (29) of June of the year two thousand twenty-six (2026), issued by the Directorate of Issuers, Assets and Rating Agencies of the Superintendence of the Securities Market (the "Report of the Directorate of Issuers, Assets and Rating Agencies"), regarding the request for approval and registration in the Registry of a public offering of Subordinated Debt Bonds of Asociación Cibao de Ahorros y Préstamos (ACAP), in which it recommends its approval and registration, having met the requirements established for such purposes in the current regulations, after verification and technical analysis of the request by said area.

Considering: That Article 75, letter d) of Law No. 183-02, establishes that savings and loan associations may issue securities.

Considering: That the capital part of Article 17 of Law No. 249-17 provides that "the Superintendent is the highest executive authority of the Superintendence, having in charge its direction, control and representation (...)" and that he is invested with the attribution of "4) authorize and register in the Registry the public offerings of securities".

Considering: That Article 48 of Law No. 249-17 establishes that "the Superintendence will be the only body authorized to authorize the public offering of securities throughout the territory of the Dominican Republic,

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Considering: That in accordance with what is provided by paragraph II, Article 50, of Law No. 249-17 and complementary provisions, the authorization of the public offering of securities by the Superintendence of the Securities Market (the "Superintendence") will be limited to verifying that the request complies with the information requirements established in the law, its regulations and other applicable norms, without prejudice to the faculty and duty of the Superintendence to dismiss any request that, based on determined elements, is considered harmful to the financial system and the securities market, nor is it within the circumstances established in paragraph V of Article 11 of the Public Offering Regulation to deny an authorization request.

Considering: That according to Article 53 of Law No. 249-17, "the authorization of the Superintendence and the registration in the Registry does not imply certification, nor any responsibility on the part of the Superintendence, regarding the solvency of the registered natural or legal persons, nor of the price, negotiability or profitability of the public offering securities, nor guarantee on the merits of said securities. The information presented will be the exclusive responsibility of the person presenting it".

Considering: That Asociación Cibao de Ahorros y Préstamos (ACAP) is a commercial company with National Taxpayer Registry (RNC) No. 4-02-00186-4, and is registered in the Registry, in its capacity as issuer, under No. SIVEV-058.

Considering: That to date, Asociación Cibao de Ahorros y Préstamos (ACAP) is considered a recurring issuer in light of what is provided by Law No. 249-17 and its complementary regulations. The entity possesses one (1) public offering of Subordinated Debt Bonds registered in the aforementioned Registry under number SIVEM-156, which has securities in circulation.

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Considering: That through the Act of the Extraordinary General Assembly of Associates of Asociación Cibao de Ahorros y Préstamos (ACAP), dated the twenty-seventh (27) of November of the year two thousand twenty-five (2025), the public offering of "Subordinated Debt Bonds" and its future placement in the securities market was approved for an amount up to five billion five hundred million Dominican pesos with zero cents (DOP 5,500,000,000.00).

Considering: That Asociación Cibao de Ahorros y Préstamos (ACAP) hired Parallax Valores Puesto de Bolsa, S.A., to act as the structuring agent of the Subordinated Debt Bonds issuance program subject to this resolution. In this sense, Parallax Valores Puesto de Bolsa, S.A., will be responsible for preparing and drafting the scheme to be used for the structuring of the public offering referred to in this resolution.

Considering: That Parallax Valores Puesto de Bolsa, S.A., is duly authorized by the Superintendence of the Securities Market to operate as a stock exchange broker and, therefore, is registered in the Registry under code No. SVPB-001, in accordance with the provisions of the securities market regulations.

Considering: That through the Request Form for Registration of a Public Offering of Fixed Income Securities from Recurring Issuers through Express Window, received by the Superintendence attached to communication No. 02-2026-000002, dated the twenty-sixth (26) of February of the year two thousand twenty-six (2026), Asociación Cibao de Ahorros y Préstamos (ACAP), duly represented by Mr. José Luis Ventura Castaños, in his capacity as Executive President, requested this regulatory body to authorize and register in the Registry a program of fixed income securities issuances named "Subordinated Debt Bonds", for an amount up to five billion five hundred million Dominican pesos with zero cents (DOP 5,500,000,000.00).

Considering: That through the Circular issued by the Superintendence of Banks, CADM-R&A-2026106111, Asociación Cibao de Ahorros y Préstamos (ACAP) is authorized to proceed with the issuance of Subordinated Debt Bonds for an amount up to five billion five hundred

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Considering: That according to the Report of the Directorate of Issuers, Assets and Rating Agencies of this Superintendence, it has analyzed and evaluated the request and consequently recommends the approval of the request for authorization and registration in the Registry of a program of fixed income securities issuances named "Subordinated Debt Bonds" for an amount up to five billion five hundred million Dominican pesos with zero cents (DOP 5,500,000,000.00), carried out by Asociación Cibao de Ahorros y Préstamos (ACAP), for complying with the requirements established in the current regulations.

Considering: That this Superintendence of the Securities Market verified that the authorization request for the public offering of the issuance and placement program of fixed income securities, named "Subordinated Debt Bonds" for an amount up to five billion five hundred million Dominican pesos with zero cents (DOP 5,500,000,000.00) carried out by Asociación Cibao de Ahorros y Préstamos (ACAP), complies with the information requirements established in Law No. 249-17, the Public Offering Regulation, and other applicable regulations.

Considering: The current legal framework and cited above, as well as the recommendations of the technical areas of the institution, and by virtue of the legal attributions, the Superintendent of the Superintendence of the Securities Market as the highest authority, with the faculty to know and decide on the request for authorization and registration in the Registry of the public offering of fixed income securities, named "Subordinated Debt Bonds" for an amount up to five billion five hundred million Dominican pesos with zero cents (DOP 5,500,000,000.00) carried out by Asociación Cibao de Ahorros y Préstamos (ACAP), decides to pronounce on it, through this administrative act.

Therefore, the Superintendent of the Superintendence of the Securities Market, in the use of the faculties granted to him by numeral 4, of Article 17, of Law No. 249-17, as well as by reason of the considerations and technical opinions that support the file, resolves:

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First: Authorize the public offering of fixed income securities named "Subordinated Debt Bonds" for an amount up to five billion five hundred million Dominican pesos with zero cents (DOP 5,500,000,000.00), requested by Asociación Cibao de Ahorros y Préstamos (ACAP), a commercial entity with the National Taxpayer Registry (RNC) No. 4-02-00186-4 and registered in the Securities Market Registry as a securities issuer with No. SIVEV-058.

Second: Instruct the Registry Department of the Superintendence of the Securities Market that once Asociación Cibao de Ahorros y Préstamos (ACAP) materializes the payment for the concept of registration fees corresponding within the established deadline, proceed with the registration in the corresponding section of the Securities Market Registry of the public offering of fixed income securities named "Subordinated Debt Bonds" for an amount up to five billion five hundred million Dominican pesos with zero cents (DOP 5,500,000,000.00), whose issuance program has the characteristics indicated below:

a) Type of Securities:
Fixed income securities named "Subordinated Debt Bonds". b) Currency: Dominican pesos. c) Total amount of the issuance program:
Up to five billion five hundred million Dominican pesos with zero cents (DOP 5,500,000,000.00). d) Nominal value: One hundred Dominican pesos with zero cents (DOP 100.00). e) Maturity of the securities:
Up to ten (10) years, but not equal to or less than five (5) years, counted from the date of issuance of each issuance generated from the issuance program, as notified to the market through the corresponding Primary Placement Notices for each securities issuance. f) Use of funds:
According to the Third Resolution adopted by the Extraordinary General Assembly of Associates dated the twenty-seventh (27) of November of the year two thousand twenty-five (2025), the resources obtained may be destined for: working capital, affecting available funds accounts, investments and credit portfolio; excluding the acquisition of non-productive assets. These resources will be integrated as part of the secondary capital of Asociación Cibao, within the limits permitted by the Monetary and Financial Law and its Regulations. g) Market to which the offering is directed:
Professional investors.

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h) Custody, payment and administration agent of the issuance program:
CEVALDOM, S.A. i) Guarantee:
The Subordinated Debt Bonds Issuance Program does not have any collateral guarantee; on the contrary, its payment of principal and interest by the Issuer is subject to the prior satisfaction of obligations derived from other debts. The Subordinated Debt Bonds are not considered deposits; therefore, their bondholders will not have the right to the guarantee established in Article 64, letter c) of the Monetary and Financial Law.

Third: Instruct Asociación Cibao de Ahorros y Préstamos (ACAP) to disclose in the simplified issuance prospectus of the public offering of Subordinated Debt Bonds, as well as in the other documents and in all advertising carried out for the subscription and negotiation of the securities, the risks and conditions of the securities offered, including the warnings required by the Superintendence of the Securities Market for the security of investors and transparency in the securities market.

Fourth: Inform Asociación Cibao de Ahorros y Préstamos (ACAP) that it must provide the Superintendence of the Securities Market with the information that it requests regarding the public offering and the issuer, in compliance with what is established in Article 238 of Law No. 249-17.

Fifth: Inform Asociación Cibao de Ahorros y Préstamos (ACAP) that by the authorization granted it must faithfully comply with the provisions contained in the Public Offering Regulation, especially those contained in Chapter II of Title II (Obligations of the Issuer and Requirements of the Securities Subject to the Public Offering and Financial Information), without prejudice to other legal and regulatory provisions applicable to it as a participant in the securities market.

Sixth: Warn Asociación Cibao de Ahorros y Préstamos (ACAP) that the registration of the issuance program in the Securities Market Registry must take place within the period of ten (10) business days counted from the date of formal notification by the Superintendence of the Securities Market to the issuer, of the approval of the public offering of Subordinated Debt Bonds through written communication.

Seventh: Warn Asociación Cibao de Ahorros y Préstamos (ACAP) that in the event that it does not make the payment for the concept of registration in the Securities Market Registry within the deadline established in the previous paragraph, the authorization of the Subordinated Debt Bonds issuance program will become void and the issuer must present and initiate again the request for authorization and registration on the occasion of continuing with the interest to manage the process.

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Eighth: Authorize the Registry Department of the Securities Market to make available to the public the documentation that supports the approval and registration before the Registry of the public offering to which this resolution refers, in the offices of the Superintendence of the Securities Market and through the means available to this entity, once the issuance program is registered in the Registry.

Ninth: Instruct Asociación Cibao de Ahorros y Préstamos (ACAP), and the centralized negotiation mechanism where the securities are registered, to place all the documentation that supports the approval and registration in the Securities Market Registry of the Subordinated Debt Bonds issuance program subject to this resolution, available to the public through the corresponding means, once registered before the Securities Market Registry.

Tenth: Instruct the Registry Department of the Securities Market to issue a certified copy of this resolution and notify it to Asociación Cibao de Ahorros y Préstamos (ACAP), as well as to communicate the corresponding payment instructions.

Eleventh: Instruct the Registry Department of the Securities Market to notify a certified copy of this resolution to the Central Bank of the Dominican Republic and to the Superintendence of Banks.

Twelfth: Instruct the Legal Directorate to publish this resolution on the website of the Superintendence of the Securities Market, in its corresponding section.

In the city of Santo Domingo de Guzmán, National District, capital of the Dominican Republic, on the first (1st) day of the month of July of the year two thousand twenty-six (2026).

Digitally signed:
Ernesto Bournigal Read
Superintendent