Resolution SMV No. 005-2026-SMV/01

PERÚ Ministry of Economy and Finance

SMV
Securities Market Superintendence
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Resolution SMV
No. 005-2026-SMV/001
Lima, March 2, 2026

SEEN:
File No. 2025050781 and Joint Report No. 235-2026-SMV/06/11 dated February 23, 2026, issued by the Legal Advisory Office and the Deputy Superintendency of Market Conduct Supervision, as well as the draft modification of the Internal Regulation on the Listing and Delisting of Securities in the Securities Registry of the Lima Stock Exchange, approved by SMV Resolution No. 042-2012-SMV/01;

CONSIDERING:
That Article 145 of the Single Consolidated Text of the Securities Market Law, Legislative Decree No. 861, approved by Supreme Decree No. 020-2023-EF (hereinafter, TUO of the LMV), establishes that the Securities Market Superintendence – SMV approves the internal regulations issued by stock exchanges and their respective modifications;

That, by SMV Resolution No. 042-2012-SMV/01, the Internal Regulation on the Listing and Delisting of Securities in the Securities Registry of the Lima Stock Exchange was approved (hereinafter, BVL Internal Regulation);

That, the Lima Stock Exchange S.A. (BVL), by letter of November 18, 2025, requested approval of the regulatory project that modifies Articles 11, 12, 16, 17, 18, 18-A, 26, and 27 of the BVL Internal Regulation (hereinafter, the Project), indicating that such modifications were approved in its Board of Directors Session No. 07.25 of October 28, 2025;

That, by Letters No. 7503-2025-SMV/11.1 and Letter No. 309-2026-SMV/11.1, observations were made on the request submitted by the BVL, which were remedied by letters of January 22, 2026, and February 5, 2026, respectively;

That, the First Complementary Final Provision of the BVL Internal Regulation states that modifications to said regulation must be approved by the BVL Board of Directors and presented to the SMV for approval, attaching the respective Board agreement;

That, by Supreme Decree No. 115-2025-EF, the Single Text of Administrative Procedures – TUPA of the Securities Market Superintendence – SMV was approved, which includes, among others, the administrative procedure with code PA4100477D, named "Exclusion from the Public Registry of the Securities Market of common shares with voting rights previously issued by junior companies included in the Junior II categories that are registered in centralized trading mechanisms at the request of the exchange", and the administrative procedure with code PA4100CE3A, named "Registration in the Public Registry of the Securities Market of common shares with voting rights previously issued by junior companies included in the Junior II category and that will be traded in centralized trading mechanisms at the request of the exchange", which have been classified as free of charge;

That, the modification proposal contemplates: (i) the elimination of the requirement to present a receipt of payment for processing fees before the SMV in the registration and exclusion procedures of junior II mining companies; (ii) the possibility for the BVL to implement virtual means of document reception in the registration and exclusion procedures of junior II mining companies; (iii) the recognition of electronic and/or digital signature in contracts that issuers sign with the BVL and CAVALI S.A. I.C.L.V.; (iv) the inclusion of the presentation of the corresponding public deed of the framework contract and/or supplementary contract in the case of automatic bond registration; and, (v) other general formal modifications and updates to the BVL Internal Regulation;

That, the BVL accredited having complied with the dissemination of the regulatory proposal on its institutional website for a period of ten (10) business days, as well as with the other requirements established for the modification of the internal regulations of stock exchanges, in accordance with what is provided in Articles 145 and 146 of the TUO of the LMV, Articles 8 and 10 of the General Standards of Stock Exchanges, approved by Superintendent Resolution No. 21-2020-SMV/02 (hereinafter, General Standards of Exchanges), and in the administrative procedure with Code PA41002841, named "Approval or modification of the internal regulations of stock exchanges and complementary provisions to the articles of said regulations" of the TUPA of the SMV, applicable to the present procedure;

That, after analyzing the modification proposal of the BVL Internal Regulation presented by the BVL, its approval is appropriate; and,

Being in accordance with the provisions of letter a) of Article 1 and letter b) of Article 5 of the Concorded Single Text of the Organic Law of the SMV, approved by Decree Law No. 26126; numeral 7 of Article 9 of the Organization and Functions Regulation of the SMV, approved by Supreme Decree No. 216-2011-EF; Article 145 of the Consolidated Text of the LMV; and Article 10 of the General Standards of Stock Exchanges, approved by Superintendent Resolution No. 21-2020-SMV/02; as well as what was agreed by the Board of Directors of the SMV in its session of February 24, 2026;

IT IS RESOLVED:

Article 1°.- Modify the last paragraph of Article 11, the second and fifth paragraphs of Article 12, the second paragraph of Article 16, the second paragraph of Article 17, numerals 6 and 8 of Article 18, numeral 5 of letter a) of Article 18-A, the fourth paragraph of Article 26, and Article 27 of the Internal Regulation on the Listing and Delisting of Securities in the Securities Registry of the Lima Stock Exchange, approved by SMV Resolution No. 042-2012-SMV/01, in accordance with the following texts:

"Article 11.- Values issued by the Central Government (...)

By the day following the registration or exclusion in the RBVL, the BVL shall notify the SMV and the corresponding issuer."

"Article 12.- Automatic Registration
(...)

In all these cases, for the automatic registration of the values to proceed, it is a prior requirement that the SMV has granted access to the corresponding administrative file to the BVL, through MVNet, which will be understood as registered on the date and time recorded in said system. (...)

It is a requirement for the registration of values in the RBVL that the issuer has signed the contracts referred to in Article 26 of this regulation. Additionally, in the case of bonds, the presentation of the Public Deed of the Framework Contract and/or Supplementary Issuance Contract is required, with the exception of those cases in which the regulation expressly does not require it. (...)"

"Article 16.- Junior II Registration
(...)

The file will be sent in a single copy in physical format or through the BVL's virtual filing office, in the means designated for such purposes, except with respect to the service contract with issuers for the dematerialization of the values to be subscribed with CAVALI, and the service contract with issuers to be subscribed with BVL, which must be presented in 2 copies in original, when signed with handwritten signature."

"Article 17.- Junior II Exclusion
(...)

In the event that the exclusion is at the request of the issuer, they must send the file in physical format, in a single copy, to the BVL's filing office, presenting:

1. Request for exclusion from the Risk Capital Segment of the RBVL;
2. Powers of attorney to carry out the procedure;
3. Exclusion agreement or documents supporting the exclusion of the value in the market of origin;
4. Receipt generated by the MVNET system of the communication sent, as a fact of importance, regarding the agreement adopted for the exclusion of the value from the RBVL."

"Article 18.- Junior II Registration Procedure (...)

6. Likewise, the BVL will proceed to notify the SMV about the approval of the registration file via MVNet, by the day following its occurrence, attaching the following documents, for the value to be registered automatically in the RPMV:

• Request for registration in the RPMV;
• Sworn declaration on verification of the requirements for the registration of the value;
• Document containing the issuer's data and characteristics of the value to be registered.
  (...)

8. The BVL will proceed to notify the SMV and the issuer about the registration of the value in the RBVL via MVNet by the day following its occurrence."

"Article 18-A.- Junior II Exclusion Procedure a) At the request of the issuer (...)

5. Upon expiration of the period referred to in Article 25 of the Risk Capital Segment Regulation, the BVL will proceed to communicate this fact to the SMV via MVNet, for the value to be automatically excluded from the RPMV, attaching the following documents:

• Request for exclusion from the RPMV;
• Sworn declaration on verification of the requirements for the exclusion of the value;
• Documents containing the issuer's data and characteristics of the value to be excluded;
• Receipt generated by the MVNET system of the communication sent, as a fact of importance, regarding the agreement adopted for the exclusion of the value from the RBVL.
  (...)"

"Article 26.- Celebration of Contracts
(...)

The presentation of the contracts duly signed through handwritten, electronic, or digital signatures, as well as the compliance with the other requirements of the Internal Regulation, are indispensable requirements for the registration of values in the RBVL, so the non-compliance with their presentation will be considered by the BVL as an observation of the file. (...)"

"Article 27.- The BVL will code the national values registered in the RBVL according to international standards, assigning the corresponding identification codes, at the appropriate time, depending on whether they are fixed income or variable income values:

1. Variable income: on the day of registration of the values in the RBVL.
2. Fixed income: prior to placement, in accordance with the information appearing in the respective fact of importance sent by the company."

Article 2°.- Publish this resolution in the Official Gazette El Peruano and on the Institutional Page of the Securities Market Superintendence – SMV on the Unified Digital Platform of the Peruvian State for Citizen Orientation (www.gob.pe/smv).

Article 3°.- Transcribe this resolution to the Lima Stock Exchange S.A.

Article 4°.- This resolution will enter into force from the day following its publication in the Official Gazette El Peruano.

Register, communicate, and publish.

Zósimo Juan Pichihua Serna
Superintendent of the Securities Market