R-SIMV-2026-10-FI — Authorization to Modify the Maturity Date of the Closed-End Real Estate Investment Fund Excel I Managed by Excel Sociedad Administradora de Fondos de Inversión, S.A.

SC-07-15-06 Edition 1 Page 1 of 5
FIRST RESOLUTION OF THE SUPERINTENDENCY OF THE SECURITIES MARKET OF DATE TWENTY-SIX (26) OF FEBRUARY OF THE YEAR TWO THOUSAND TWENTY-SIX (2026) R-SIMV-2026-10-FI Subject: Authorization to modify the maturity date of the Closed-End Real Estate Investment Fund Excel I managed by Excel Sociedad Administradora de Fondos de Inversión, S.A.

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

Viewed: Law No. 247-12, of date nine (9) of August of the year two thousand twelve (2012), Organic Law of Public Administration (the “Law No. 247-12”).

Viewed: Law No. 107-13, of date six (6) of August of the year two thousand thirteen (2013), on the Rights of Persons in their Relations with the Administration and Administrative Procedure (the “Law No. 107-13”).

Viewed: Law No. 249-17, of date nineteen (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 date eight (8) of May of the year two thousand (2000) (the “Law No. 249-17”).

Viewed: The First Resolution of the National Council of the Securities Market, of date five (5) of November of the year two thousand nineteen (2019), R-CNMV-2019-28-MV, which approves the Regulation of Administrator Companies and Investment Funds, modified by the Second Resolution of the National Council of the Securities Market, of date sixteen (16) of July of the year two thousand twenty-one (2021), R-CNMV-2021-16-MV (the “Regulation of Administrator Companies and Investment Funds”).

Viewed: Circular C-SIMV-2020-01-MV of date eighteen (18) of February of the year two thousand twenty (2020), which approves the Instruction containing the guidelines for the various documents established in the Regulation of Administrator Companies and Investment Funds.

Viewed: The First Resolution of the National Council of Values (now “National Council of the Securities Market” and hereinafter the “Council”), of date twenty-four (24) of April of the year two thousand fifteen (2015), R-CNV-2015-10-FI, through which the inscription in the Securities and Products Market Registry (now “Securities Market Registry”, and hereinafter the “Registry”) of the closed-end investment fund named

SC-07-15-06 Edition 1 Page 2 of 5
“Closed-End Real Estate Investment Fund Excel I” (the “Fund”) inscribed under number SIVFIC-008, managed by Excel Sociedad Administradora de Fondos de Inversión, S.A., inscribed under number SVAF-001 (the “Approval Resolution”).

Viewed: Communication No. 01-2026-001802, of date twenty-three (23) of February of the year two thousand twenty-six (2026), through which Excel Sociedad Administradora de Fondos de Inversión, S.A., requests this Superintendency of the Securities Market (the “Superintendency”) the extension of the validity date of the Fund, and therefore, of the Approval Resolution.

Seen: Report number OP-111-26, of date twenty-five (25) of February of the year two thousand twenty-six (2026), presented by the Public Offering Directorate, through which said area requests the extension of the validity date of the Fund.

Considering: That the main part of Article 17 of Law No. 249-17 provides that “the Superintendent is the highest executive authority of the Superintendency, having in charge its direction, control, and representation.”

Considering: That in this same order, Article 48 of Law No. 249-17 establishes that “the Superintendency will be the only one authorized to authorize the public offering of securities throughout the territory of the Dominican Republic, prior to the presentation of the requirements established in this law and its regulations.”

Considering: That taking into account what is provided in numeral 2 of Article 83 of the Regulation of Administrator Companies and Investment Funds, “modifications to the internal regulations, the summarized information brochure, and, in general, to all documents presented to the Superintendency for the authorization and inscription of the investment fund in the Registry, which arise subsequent to the Superintendency’s approval, shall proceed as follows: 2) In the case of closed-end investment funds: any modification shall be submitted to the Superintendency for the purpose of obtaining its non-objection (…)”.

SC-07-15-06 Edition 1 Page 3 of 5
Considering: That Law No. 247-12, in its Article 12 numeral, establishes the principle of competence which is “Any competence granted to the entities and bodies that make up the Public Administration comprises a faculty to act and an obligation to exercise it under the conditions, limits, and procedures established legally. Competence shall be irrenounceable, indelegable, and unextendable, except in cases of delegation and assumption.”

Considering: That Law No. 107-13, referring to the validity requirements of acts, states in its Article 9 that administrative acts dictated by the competent body shall be considered valid.

Considering: That at the time of the dictation of the First Resolution of the National Council of Values, of date twenty-four (24) of April of the year two thousand fifteen (2015), R-CNV-2015-10-FI, through which the inscription in the Registry of the “Closed-End Real Estate Investment Fund Excel I” managed by Excel Sociedad Administradora de Fondos de Inversión, S.A. was authorized and ordered, Law No. 19-00 was in force; therefore, according to the procedure of that moment, said approval resolution was issued by the Council. However, according to numeral 4 of Article 17 of the current Law No. 249-17, it is the attribution of the Superintendent “to authorize and inscribe in the Registry the public offerings of securities.”

Considering: That by virtue of the Extraordinary General Assembly of the Closed-End Real Estate Investment Fund Excel I, held on nineteen (19) of February of the year two thousand twenty-six (2026), the Fund’s contributors approved the extension of the Fund’s maturity term, for the purpose of completing the merger process of the same, for an additional period of twenty-four (24) months, counted from the date of its maturity, and therefore, the modification of the Fund’s Internal Regulations and other documents supporting it.

Considering: That through communication No. 01-2026-001802, of date twenty-three (23) of February of the year two thousand twenty-six (2026), Excel Sociedad Administradora de Fondos de Inversión, S.A., requests this Superintendency the extension of the validity date of the Fund, and therefore, of the Approval Resolution.

Considering: That this resolution has as its purpose to modify the maturity date of the Fund, and that the Approval Resolution does not contain information different from the information presented and held in the Securities Market Registry.

SC-07-15-06 Edition 1 Page 4 of 5
Considering: That this Superintendency, through the Public Offering Directorate, has verified that the request presented by Excel Sociedad Administradora de Fondos de Inversión, S.A., complies with and is in accordance with the requirements established in the current legislation.

Considering: That this Superintendency, through the Public Offering Directorate, has verified that the request presented by Excel Sociedad Administradora de Fondos de Inversión, S.A., complies with and is in accordance with the requirements established in Article 83 of the Regulation of Administrator Companies and Investment Funds and in Law No. 249-17.

Considering: The current legal framework cited above, as well as the recommendations of the institution’s technical area, and by virtue of the legal attributions, the Superintendent of the Securities Market as the highest executive authority of the Superintendency, with the faculty to know and decide regarding the aforementioned request, decides to pronounce on it through this administrative act.

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

First: Modify the literal “f) Maturity Date” of the General Characteristics of the Securities, contained in numeral 1 of the device of the First Resolution of the National Council of Values, of date twenty-four (24) of April of the year two thousand fifteen (2015), R-CNV-2015-10-FI, through which the inscription in the Registry of the “Closed-End Real Estate Investment Fund Excel I” managed by Excel Sociedad Administradora de Fondos de Inversión, S.A. was authorized and ordered, so that hereinafter it shall be read as transcribed below:

f) Maturity Date: Twelve (12) years counted from the date of issuance of the fund, that is, the day 2 of March of 2028, by virtue of the decision of the Extraordinary General Assembly of Contributors held on date 19 of February of 2026, where the extension of the validity term of the fund for 24 additional months was approved due to the merger process through which the fund is undergoing.

Second: Inform that all other characteristics of the Fund and conditions not modified in this resolution remain unchanged with respect to those established in the First Resolution of the National Council of Values, of date twenty-four (24) of April of the year two thousand fifteen (2015), R-CNV-2015-10-FI.

SC-07-15-06 Edition 1 Page 5 of 5
Third: Order Excel Sociedad Administradora de Fondos de Inversión, S.A. to inform the changes of the Fund to the contributors and to the market as a material event and to proceed to publish on its website with sufficient prominence.

Fourth: Instruct the Securities Market Registry Department to issue a certified copy of this Resolution and to notify it to Excel Sociedad Administradora de Fondos de Inversión, S.A., to the Stock and Securities Markets of the Dominican Republic, S.A., to Cevaldom, S.A., and to the Risk and Investment Limits Rating Commission.

Fifth: Instruct the Legal Directorate to publish this Resolution on the website of the Superintendency 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 twenty-six (26) days of the month of February of the year two thousand twenty-six (2026).

Digitally signed by:
Ernesto Bournigal Read
Superintendent