Circular No. 041-2026-SMV/11.1 - Updated Minimum Amounts for General Regime and Alternative Securities Market Issuers 2026

PERÚ Ministry of Economy and Finance

SMV Securities Market Superintendence "Decade of Equal Opportunities for Women and Men" Av. Paseo de la República 3617 San Isidro Central: 610 - 6300 www.smv.gob.pe Page 1 of 2 Electronically signed document in 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

San Isidro, January 22, 2026

CIRCULAR NO. 041-2026-SMV/11.1

Gentlemen

Issuers of the General Regime Issuers of the Alternative Securities Market

Present:-

Ref.: File No. 2026000646

I address you with the purpose of bringing to your knowledge the current minimum amounts referenced in the Unified Ordained Text of the Securities Market Law, Legislative Decree No. 861, approved by Supreme Decree No. 020-2023-EF (hereinafter, TUO of the LMV) and in the various regulations approved by the Securities Market Superintendence – SMV, regarding Entities authorized and/or supervised by the Superintendence for the Supervision of Market Conduct Behaviors – SASCM.

In this regard, it should be indicated that, although the minimum amounts indicated in the regulations are constant, they must be updated annually based on the National Wholesale Price Index (hereinafter, IPM), as provided for in the First Final Provision of the LMV1; taking into consideration for the year 2026 the IPM corresponding to December 20252.

In that sense, the current minimum amounts for the year 2026 are as follows:

Updated Minimum Amounts 2026

No.	Minimum Amounts LMV and SASCM Competition Regulations	Legal Basis	Base Amounts	Updated Amounts 2026 (*)
1	Lowest nominal value or unit placement value - Private Offering (Article 5 of the LMV)	Article 5 of the LMV	250,000	578,563
2	Social Capital and Net Worth of the Risk Classification Company (Article 272 of the LMV and Article 20 of the Regulation of Risk Classification Companies, approved by SMV Resolution No. 032-2015-SMV/01)	Article 272 of the LMV and Article 20 of the Regulation of Risk Classification Companies	400,000	925,700
3	Social Capital of the Securitization Entity (Article 7, numeral 7.6, of the Regulation of Securities Market Securitization Entities, approved by SMV Superintendent Resolution No. 142-2014-SMV/02)	Article 7, numeral 7.6, of the Regulation of Securities Market Securitization Entities	750,000	1,735,688
4	Investment Portfolio in Securities - Non-State Legal Persons (Annex 1, numeral 4, of the Regulation of the Institutional Investors Market, approved by SMV Resolution No. 021-2013-SMV/01)	Annex 1, numeral 4, of the Regulation of the Institutional Investors Market	1,000,000	2,314,250
5	Fund or Individual Net Worth administered by Institutional Investors (Annex 1, numeral 5, of the Regulation of the Institutional Investors Market, approved by SMV Resolution No. 021-2013-SMV/01)	Annex 1, numeral 5, of the Regulation of the Institutional Investors Market	400,000	925,700
6	Net Worth of Natural Persons (Annex 1, numeral 6, of the Regulation of the Institutional Investors Market, approved by SMV Resolution No. 021-2013-SMV/01)	Annex 1, numeral 6, of the Regulation of the Institutional Investors Market	2,000,000	4,628,501
7	Investment Portfolio in Securities of Natural Persons (Annex 1, numeral 6, of the Regulation of the Institutional Investors Market, approved by SMV Resolution No. 021-2013-SMV/01)	Annex 1, numeral 6, of the Regulation of the Institutional Investors Market	1,000,000	2,314,250

Source: Amounts indicated in the provisions of the cited norms and IPM (approved via Chief Resolution No. 255-2025-INEI of December 31, 2025). (*) The 2026 amounts have been calculated by update.

Finally, it should be noted that this Circular does not require a response from your represented entity, as its character is merely informative; the information detailed above must be taken into consideration in cases and/or administrative procedures in which your represented entity observes the aforementioned minimum amounts established in the regulations.

Without further particulars, I remain at your disposal.

Sincerely,

Alix Godos General Superintendent General Superintendence of Conduct Supervision

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1 "First.- The sums referred to in this law are of constant value and are updated annually, at the close of each fiscal year, based on the Wholesale Price Index for Metropolitan Lima published periodically by the National Institute of Statistics and Informatics. The number obtained for the month of January 1996 is considered as the base of the aforementioned index." (Emphasis and underlining added)

2 Published in the Official Gazette El Peruano on December 31, 2025. Web Link: https://busquedas.elperuano.pe/dispositivo/NL/2473374-1

PERÚ Ministry of Economy and Finance

SMV Securities Market Superintendence "Decade of Equal Opportunities for Women and Men" Av. Paseo de la República 3617 San Isidro Central: 610 - 6300 www.smv.gob.pe Page 2 of 2 Electronically signed document in 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