Resolution of the Deputy Superintendent of Conduct Supervision No. 017-2026-SMV/11

PERÚ Ministerio de Economía y Finanzas

SMV Superintendencia del Mercado de Valores “Decenio de la Igualdad de Oportunidades para Mujeres y Hombres” “Año de la Esperanza y el Fortalecimiento de la Democracia” 1 Documento electrónico firmado digitalmente en el marco de la Ley N° 27269, Ley de Firmas y Certificados Digitales, su Reglamento y modificatorias. La integridad del documento y la autoría de la(s) firma(s) pueden ser verificadas en https://apps.firmaperu.gob.pe/web/validador.xhtml Resolution of the Deputy Superintendent of Conduct Supervision SMV No. 017-2026-SMV/11 Lima, April 20, 2026 The Deputy Superintendent of Market Conduct Supervision HAVING SEEN: File No. 2025032000, which contains, among other things, the reconsideration appeal filed by EMPRESA DE GENERACION ELECTRICA SAN GABAN S.A. against the Resolution of the Deputy Superintendent of Conduct Supervision SMV No. 012-2026-SMV/11; CONSIDERING:

1. That, Article 3 of Legislative Decree No. 1683, Legislative Decree establishing the deadlines for the processing of administrative appeals filed in high-complexity administrative sanctioning procedures of the Securities Market Superintendency (hereinafter, DLEG No. 1683), establishes that, within a maximum period of forty-five (45) business days, the Securities Market Superintendency - SMV must resolve the reconsideration appeals filed in high-complexity administrative sanctioning procedures;
2. That, Article 5 of DLEG No. 1683, provides that the determination of the high complexity of the administrative sanctioning procedure is made within three (3) business days of the filing of the administrative appeal, through a reasoned and irrecurrible resolution in the administrative sphere, issued by the body responsible for resolving the same; and that, said period forms part of the maximum period for the resolution of the administrative appeal;
3. That, through Resolution SMV No. 013-2024-SMV/01, it was established that the administrative authority resolving the reconsideration appeal may declare the high complexity of the administrative sanctioning procedure when it verifies that any of the following criteria are met: (i) There is a plurality of sanctioned parties; (ii) There is a plurality of administrative infractions; (iii) The administrative infraction is classified as serious or very serious in the current Sanctions Regulation; or, (iv) Specialized technical support in accounting or financial matters is required to resolve a reconsideration appeal, from staff of the line organs of the SMV;
4. That, through the Resolution of the Deputy Superintendent of Conduct Supervision SMV No. 012-2026-SMV/11, EMPRESA DE GENERACION ELECTRICA SAN GABAN S.A. was sanctioned with a fine of 3.03 Tax Unit Units (UIT) equivalent to S/ 15,604.50 (Fifteen Thousand Six Hundred Four and 50/100 Soles) and two (02) warnings, for having committed three (03) infractions of a minor nature classified in subsection 3.1, numeral 3 of Annex I of the Sanctions Regulation, approved by Resolution SMV No. 035-2018-SMV/01.

PERÚ Ministerio de Economía y Finanzas

SMV Superintendencia del Mercado de Valores “Decenio de la Igualdad de Oportunidades para Mujeres y Hombres” “Año de la Esperanza y el Fortalecimiento de la Democracia” 2 Documento electrónico firmado digitalmente en el marco de la Ley N° 27269, Ley de Firmas y Certificados Digitales, su Reglamento y modificatorias. La integridad del documento y la autoría de la(s) firma(s) pueden ser verificadas en https://apps.firmaperu.gob.pe/web/validador.xhtml 5. That, through a letter dated April 17, 2026, EMPRESA DE GENERACION ELECTRICA SAN GABAN S.A. filed a reconsideration appeal against the aforementioned resolution; 6. That, from the review of the sanctioning resolution and the reconsideration appeal filed, it is verified that the three (03) administrative infractions referred to in the preceding consideration are classified as minor in the Sanctions Regulation, approved by Resolution SMV No. 035-2018-SMV/01; 7. That, in accordance with the legal framework cited above, and taking into consideration that there is a plurality of infractions, the present administrative sanctioning procedure qualifies as high complexity, so the deadline to resolve the reconsideration appeal filed is up to forty-five (45) business days; and, Being in accordance with the provisions of Articles 3 and 5 of Legislative Decree No. 1683, Legislative Decree establishing the deadlines for the processing of administrative appeals filed in high-complexity administrative sanctioning procedures of the Securities Market Superintendency, Article 1 of Resolution SMV No. 013-2024-SMV/01 and numeral 22 of Article 43 of the Organization and Functions Regulation of the Securities Market Superintendency, approved by Supreme Decree No. 216-2011-EF; RESOLVES: Article 1º.- Qualify the present administrative sanctioning procedure as high complexity, according to numeral 3 of Article 1 of Resolution SMV No. 013-2024-SMV/01. Article 2º.- This Resolution is irrecurrible in the administrative sphere, in accordance with what is established by Article 5 of Legislative Decree No. 1683, Legislative Decree establishing the deadlines for the processing of administrative appeals filed in high-complexity administrative sanctioning procedures of the Securities Market Superintendency. Article 3º.- Notify this Resolution to EMPRESA DE GENERACION ELECTRICA SAN GABAN S.A. Register, communicate and publish. Carlos Rivero Zevallos Deputy Superintendent Deputy Superintendency of Market Conduct Supervision

PERÚ Ministerio de Economía y Finanzas

SMV Superintendencia del Mercado de Valores “Decenio de la Igualdad de Oportunidades para Mujeres y Hombres” “Año de la Esperanza y el Fortalecimiento de la Democracia” 3 Documento electrónico firmado digitalmente en el marco de la Ley N° 27269, Ley de Firmas y Certificados Digitales, su Reglamento y modificatorias. La integridad del documento y la autoría de la(s) firma(s) pueden ser verificadas en https://apps.firmaperu.gob.pe/web/validador.xhtml