Banks and Financial Intermediation Cooperatives - Article 477.1 of the RNRCSF - Disclosure of information to the market on capital, risk management and other prudential requirements - Modification

1 Montevideo, April 8, 2024 Ref: BANKS AND FINANCIAL INTERMEDIATION COOPERATIVES - ARTICLE 477.1 OF THE RNRCSF - Disclosure of information to the market on capital, risk management and other prudential requirements - Modification. The market is informed that the Superintendence of Financial Services, adopted on April 5, 2024 the following resolution:

1. Replace in Chapter II – Disclosure of information on corporate governance, capital, risk management and other prudential requirements, of Title I – Transparency, of Book V – Transparency and market conduct of the Compilation of Regulations and Control of the Financial System article 477.1 with the following:

ARTICLE 477.1 (REPORT ON CAPITAL, RISK MANAGEMENT AND OTHER PRUDENTIAL REQUIREMENTS). Banks and financial intermediation cooperatives shall disclose qualitative and quantitative information regarding their regulatory situation in matters of capital and other prudential requirements, including data on exposures and the management of credit, counterparty, market, operational and liquidity risks, in accordance with the instructions that will be issued. The Board of Directors or equivalent hierarchical authority must ensure that the aforementioned information verifies consistency with other information submitted to the Superintendence of Financial Services and supplied to third parties. The disclosed information must be presented in a manner understandable to all stakeholders. The most complex aspects must be explained in simple language and the most important terms must be defined. The institution must publish all significant information, understood as that whose omission or imprecision could modify or influence the evaluation that a user makes of it to make an economic decision. The information must be coherent over time. Likewise, it must explain any significant change in the information (qualitative and quantitative) with respect to previous reports, including changes in the specific circumstances of the institution, regulation or market. In those exceptional cases where the disclosure of certain information Diagonal Fabini 777 - C.P. 11100 - Tel.: (598 2) 1967 - Montevideo, Uruguay - www.bcu.gub.uy CIRCULAR N°2453

2 required by this standard harms the position of the bank or financial intermediation cooperative by making public information that is reserved or confidential, the institution will not be obliged to make such specific data public but must disclose more general information about such requirement and explain the reason why it does not provide the specific data, unless that general information also has a reserved or confidential character.

Reserved information is understood as that which, in the possession of competitors, would decrease the value of the institution's investment and harm its competitive position. Information is considered confidential when there are obligations with third parties that imply for the bank or cooperative the duty of confidentiality. The disclosed information must be available in a single place, of public access and easy to locate on the institution's website. The required data must be updated according to the following minimum frequency:

• for qualitative information: annually or on the occasion of any relevant modification;

• for information of a quantitative nature: according to the frequency established in each form. Updates must be published within 60 (sixty) days following the date to which the information refers, with the exception of information corresponding to the fiscal year-end date, whose update must be published within 90 (ninety) days. Banks and financial intermediation cooperatives must keep published the information corresponding to the last 5 (five) years. The disclosure of the aforementioned information will be carried out based on the consolidated situation.

JUAN PEDRO CANTERA Superintendent of Financial Services 2017-50-1-01800 Diagonal Fabini 777 - C.P. 11100 - Tel.: (598 2) 1967 - Montevideo, Uruguay - www.bcu.gub.uy CIRCULAR N°2453