Resolution No. JPRM-2024-017-A — Appointing Mr. Mario Edelberto Escudero Orozco as a Member of the Audit Committee of the Central Bank of Ecuador for a Four-Year Term

RESOLUTION NO. JPRM-2024-017-A

THE MONETARY AND FINANCIAL POLICY BOARD

CONSIDERING:

That, Article 226 of the Constitution of the Republic of Ecuador prescribes that public servants and persons acting by virtue of a state power shall exercise only the competencies and powers attributed to them in the Constitution and the Law;

That, Article 227 ibidem states that Public Administration constitutes a service to the community that is governed by the principles of effectiveness, efficiency, quality, hierarchy, coordination, planning, among others;

That, Article 47.1 of the Organic Code of Monetary and Financial creates the Monetary and Financial Policy Board, as part of the Executive Function, responsible for the formulation of monetary policy, the highest governing body of the Central Bank of Ecuador, and determines its composition;

That, numerals 15 and 26 of Article 47.6 of the Organic Code of Monetary and Financial, among other functions of the Monetary and Financial Policy Board, determine: “15. Establish and regulate the functioning of the committees that may be necessary for the functioning of the Bank; (…) 26. Those others conferred by law.”;

That, Article 57.2 of the Organic Code of Monetary and Financial establishes that the Monetary and Financial Policy Board shall appoint and determine the attributions and functions of the Audit Committee that will assist it in the oversight of financial reports, internal audit, external audit, and internal control systems;

That, the “Regulations of the Audit Committee of the Central Bank of Ecuador” approved by the Monetary and Financial Policy Board, through Resolution No. JPRM-2021-006-A, of December 17, 2021, reformed through Resolutions No. JPRM-2022-030-A, of December 19, 2022, and No. JPRM-2024-016-A, of August 26, 2024, in its Article 4 establishes that the Audit Committee shall be composed of three members with voice and vote, appointed by the Monetary and Financial Policy Board. Additionally, Article 5 establishes that members will perform their functions for a period of four years and Article 6 establishes the requirements to be a member of the Audit Committee;

That, Article 7 of the aforementioned “Regulations of the Audit Committee of the Central Bank of Ecuador”, reformed through Resolution No. JPRM-2024-016-A, of August 26, 2024, in its pertinent part establishes that “(…) In the event of the termination of functions of any of the members, the person who replaces them will exercise the functions for a period of four (4) years, counted from their assumption of office. (…)”

That, through an electronic summary inserted in file No. BCE-SG-2024-3082-EXT, of July 8, 2024, of the Quipux Document Management System, the President of the Monetary and Financial Policy Board, ordered the General Manager of the Central Bank of Ecuador to prepare a report related to the compliance with requirements of Mr. Mario Edelberto Escudero Orozco as a candidate to be a member of the Audit Committee of the CBE;

That, with legal report No. BCE-GJ-004-2024, of July 9, 2024, the General Legal Coordination of the Central Bank of Ecuador, after evaluating the compliance with requirements of the candidates for members of the Audit Committee of the Central Bank of Ecuador, concluded that the evaluated candidate meets the requirements provided for in the current regulations;

That, the Monetary and Financial Policy Board in an extraordinary in-person session, dated August 26, 2024, reviewed the legal report No. BCE-GJ-004-2024, of July 9, 2024, sent via memorandum No. BCE-BCE-2024-0152-M, of July 9, 2024, by the General Manager of the Central Bank of Ecuador to the President of the Monetary and Financial Policy Board, and,

In exercise of its functions and in accordance with Article 47.7 of the Organic Code of Monetary and Financial, the Monetary and Financial Policy Board:

RESOLVES

Article 1.- Appoint Mr. Mario Edelberto Escudero Orozco as a member of the Audit Committee of the Central Bank of Ecuador, for a period of four years.

GENERAL PROVISION.- The General Financial Administrative Coordination of the Central Bank of Ecuador, through its Directorates, will execute the pertinent administrative actions to implement this resolution.

FINAL PROVISION.- This resolution will enter into force from the present date, without prejudice to its publication in the Official Register.

Entrust the publication on the institutional website of the Central Bank of Ecuador to the Document Management and Archive Directorate.

COMMUNICATE AND PUBLISH. - Given in the Metropolitan District of Quito, on August 26, 2024.

THE PRESIDENT Dr. TATIANA MARIBEL RODRÍGUEZ CERÓN

RESOLUTION No. JPRM-2024-017-A Page | 3

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The aforementioned resolution was signed by Doctor Tatiana Maribel Rodríguez Cerón, in her capacity as President of the Monetary and Financial Policy Board, in the Metropolitan District of Quito, on August 26, 2024.- I CERTIFY.

ADMINISTRATIVE SECRETARY Attorney MARÍA ALEXANDRA GUERRERO DEL POZO