DIRECTORATE RESOLUTION No. 153/2026

SUBJECT: INTERNATIONAL OPERATIONS MANAGEMENT – APPROVE THE EXIT FROM THE NATIONAL CUSTOMS TERRITORY OF GOLD ACQUIRED IN THE DOMESTIC MARKET

WHEREAS:

The Political Constitution of the State of 7 February 2009.

Law No. 1670 of 31 October 1995, of the Central Bank of Bolivia (BCB) and its amendments.

Law No. 1503 of 5 May 2023, on the Purchase of Gold Destined for the Strengthening of International Reserves.

Supreme Decree No. 25870 of 11 August 2000, which approves the Regulations to the General Customs Law and its amendments.

The Regulations for the Administration of International Reserves approved by Directorate Resolution No. 66/2026 of 20 May 2026.

Directorate Resolution No. 152/2026 of 20 October 2026, which establishes the procedure applicable to the approval and exit of gold from the national customs territory.

The Statute of the BCB, approved by Directorate Resolution No. 85/2026 of 23 June 2026.

Report BCB-GOI-SRES-DNI-INF-2026-46 of 20 October 2026, issued by the International Operations Management (GOI).

Report BCB-GAL-SANO-DLBCI-INF-2026-269 of 20 October 2026, issued by the Legal Affairs Management (GAL).

CONSIDERING:

That the Political Constitution of the State in its article 327 determines that the BCB is an institution of public law, with legal personality and its own patrimony. In numeral 5, paragraph I of its article 328, it establishes that the BCB in coordination with the policy

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economic policy determined by the Executive Branch, has the attribution to administer the International Reserves.

That Law No. 1670 in its articles 14 and 15 establishes that the BCB shall ensure the strengthening of the International Reserves in a manner that allows the normal functioning of Bolivia's international payments and that said reserves are constituted by one or several of the assets, among which is physical gold.

That the aforementioned Law, in its articles 16 and 17 determines that the BCB shall administer and manage its International Reserves, being able to invest them and deposit them in custody, as well as dispose of and pledge them, in the manner it considers most appropriate for the fulfillment of its purpose and its functions and for their adequate safekeeping and security. It may likewise purchase exchange hedging instruments for the purpose of reducing risks. The International Reserves are unseizable and may not be subject to precautionary, administrative or judicial measures, nor be subject to any state tax or contribution.

That in its article 44 the cited Law provides that the highest authority of the BCB is its Directorate, which is responsible for defining its policies, specialized regulations of general application and internal norms. In its article 54 subparagraphs a), c) and q) it establishes that the Directorate has the attributions to issue the norms and adopt the general decisions that may be necessary for the BCB to fulfill the functions, competences and faculties assigned to it by Law; to monitor the execution of monetary, exchange, credit, financial intermediation, international reserves administration policies and regulations and others corresponding to the BCB; in accordance with this Law and those that may be necessary for the fulfillment of its functions.

That Law No. 1503 in its article 1 provides that its purpose is to authorize the BCB to purchase gold from the domestic market for the strengthening of the International Reserves and to carry out financial operations with the International Reserves in gold in international markets. In paragraph I of its article 7, it states that once the gold purchase process is concluded and total settlement is made in the domestic market, the BCB may refine the gold abroad to obtain the quality of good delivery bars and, in accordance with regulations, shall regulate the exit from the national customs territory. Likewise, in paragraph I of its article 9, it establishes that the BCB shall carry out operations in international markets with the Gold Reserves, being able to purchase, invest, deposit in custody, employ in hedging instruments, transform and convert them into foreign currency, in order to optimize the liquidity and/or the yield of the International Reserves.

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That the sole final provision of Law No. 1503 determines that within the framework of articles 327 and 328 of the Political Constitution of the State, the BCB, with the objective of complying with its constitutional mandate, is empowered to apply the provisions of Law No. 1670, this being sufficient for the development of its functions, without requiring further provisions than said law.

That the Regulations to the General Customs Law in its article 185 determines that the exit from the national customs territory of the International Reserves, made up of convertible foreign currency and gold, by virtue of operations carried out by the BCB with international financial organizations and other foreign institutions, derived from its central banking functions or that are carried out to facilitate payment and credit operations, shall be carried out in accordance with applicable legal provisions and upon prior presentation of the Resolution of the Ministry of Finance, currently Ministry of Economy and Public Finance, authorizing such operation.

That the Statute of the BCB in numerals 1), 5) and 51) in its article 11 provides that the Directorate has the attributions to approve the general decisions and issue the norms that may be necessary for the BCB to fulfill the functions, competences and faculties assigned to it by Law; that of approving the policy and norms for the administration of the International Reserves and other attributions that may be necessary for the fulfillment of its functions.

That subsection a) of paragraph II of article 2 of Board Resolution No. 152/2026 establishes that the exit of gold from the national customs territory, for purposes of refining and/or investment abroad, must be approved by the BCB Board. Likewise, subsection b) of the aforementioned paragraph provides that the GOI shall process before the Ministry of Economy and Public Finance the Ministerial Resolution authorizing said exit.

CONSIDERING:

That by means of report BCB-GOI-SRES-DNI-INF-2026-46, the GOI concludes that with the objective of carrying out the recomposition of gold reserves and increasing the gold reserves of Good Delivery in the BCB account in London, it is appropriate to authorize the exit from the national customs territory of the 247 gold bars acquired in the domestic market during the 2026 management period, in order to complete the accreditation process of the gold held in BCB vaults. Likewise, it recommends submitting to the consideration of the BCB Board the approval of the exit from the national customs territory of up to 2.64 tons of gold, contained in 247 bars, acquired in the domestic market, destined for the United Arab Emirates to carry out investment operations, from which it is estimated to obtain 2.46 //4. R.D. No. 153/2026

tons of fine gold, in accordance with the schedule of 3 shipments of up to 1 ton of gold each, to be executed until 31 December 2026, subject to operational availability and market conditions. Likewise, authorize the investment operations of the gold resulting from the aforementioned operation and instruct the International Operations Management to process before the Ministry of Economy and Public Finance the Ministerial Resolution authorizing the exit of the gold from the national customs territory.

That by means of report BCB-GAL-SANO-DLBCI-INF-2026-269, the GAL concludes that the exit from the national customs territory of 2.64 tons of gold, of which 2.46 tons of fine gold are estimated, contained in 247 bars, in accordance with the schedule of 3 shipments of up to 1 ton of gold each, destined for the United Arab Emirates to carry out investment operations to be executed until 31 December 2026, subject to operational availability and market conditions, by being framed within the applicable regulations and within the functions of the BCB for the administration of International Reserves and the Framework Agreement for the Sale and Purchase of Precious Metals signed between the BCB and STONEX, is legally admissible and viable; therefore, it corresponds to the BCB Board to approve it, in accordance with the provisions of articles 44 and 54 subsections a), c) and q) of Law No. 1670 and numerals 1), 5) and 51) of article 11 of the BCB Statute.

THEREFORE,
THE BOARD OF THE CENTRAL BANK OF BOLIVIA
RESOLVES:

Article 1.- Approve the exit from the national customs territory of up to 2.64 tons of gold, contained in 247 bars, acquired in the domestic market, destined for the United Arab Emirates to carry out investment operations, from which it is estimated to obtain 2.46 tons of fine gold, in accordance with the schedule of 3 shipments of up to 1 ton of gold each, to be executed until 31 December 2026, subject to operational availability and market conditions.

Article 2.- Authorize the International Operations Management to invest the gold resulting from the operations described in the preceding article, in accordance with the provisions of the Regulations for the Administration of International Reserves.

Article 3.- In accordance with subsection b) of paragraph II of article 2 of Board Resolution No. 152/2026, the International Operations Management shall process before the Ministry of Economy and Public Finance the Ministerial Resolution authorizing the exit of the gold from the national customs territory.

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Article 4.- This Resolution shall enter into force from its approval.

Article 5.- The Presidency and the General Management are entrusted with the compliance of this Resolution.

La Paz, 20 October 2026

FDO. DAVID IVÁN ESPINOZA TORRICO, Claudia Haydee Pacheco Ayala, Dennise Sussan Martin Alarcón, Walter Fernando Orellana Rocha, Álvaro Alfonso Romero Villavicencio.