Technical Norms for the Authorization of Share Transfers of Banks, Investment Banks, Sole Purpose Holding Companies and Savings and Credit Societies

NRP-55
OF SHARES OF BANKS, INVESTMENT BANKS,
SOLE PURPOSE HOLDING COMPANIES AND SAVINGS AND CREDIT SOCIETIES Approval: 29/02/2024 Validity: 15/03/2024 THE COMMITTEE OF NORMS OF THE CENTRAL BANK OF RESERVE OF EL SALVADOR,

CONSIDERING:

I. That Article 11 of the Banking Law and Article 8 of the Investment Banks Law
establish that natural or legal persons may be holders of shares of a bank or investment bank, respectively, representing more than one percent of the capital of the institution, subject to prior authorization from the Superintendency of the Financial System. (1)
II. That Article 12 of the Banking Law and Article 18 of the Investment Banks Law
establish the requirements that natural and legal persons must meet considered as relevant shareholders and direct relevant shareholders, respectively. (1)
III. That Article 14 of the Banking Law and Article 9 of the Investment Banks Law
establish the timeframe within which banks or investment banks, respectively, must send to the Superintendency of the Financial System the report on the transfers of shares registered in their Shareholder Register, which must be sent within the first ten business days of each month. Likewise, they must send a list of shareholders at the close of each fiscal year, within a period not exceeding thirty days after said close. (1)
IV. That Article 120 of the Banking Law establishes that the shares that
correspond to the investments of the holding company may be encumbered or transferred with the authorization of the Superintendency of the Financial System.
V. That Article 121 of the Banking Law establishes that, to sole purpose holding
companies, the provisions on organization, administration, ownership and operation established in Articles 5 to 21 of said Law shall apply.
VI. That Article 125 of the Banking Law establishes that, the holding company,
subject to prior authorization from the Superintendency of the Financial System, may alienate at any time, totally or partially, the shares that are its property. The Superintendency of the Financial System will authorize such sales when they do not affect the consolidated equity requirement of the holding company. When for any reason the sole purpose holding company loses majority share ownership of a member company, it must alienate the remaining shares within one hundred and eighty days of having lost majority ownership, except when the investment is joint.

NRP-55
OF SHARES OF BANKS, INVESTMENT BANKS,
SOLE PURPOSE HOLDING COMPANIES AND SAVINGS AND CREDIT SOCIETIES Approval: 29/02/2024 Validity: 15/03/2024
VII. That Article 189, first paragraph, of the Banking Law establishes that, persons
who acquire shares of banks in violation of the provisions of Articles 10, 11 and 12 of said Law, will be suspended from exercising the right to vote; and additionally will be sanctioned by the Superintendency of the Financial System with a fine of up to four hundred minimum monthly salaries, depending on the gravity of the infringement, its recurrence and the economic capacity of the infringer.
VIII. That Article 209, letter a), of the Banking Law establishes that, banks may not
carry out credit operations with guarantees of their own shares or with guarantee of shares of other banks or with guarantee of shares of companies belonging to the same Financial Conglomerate.
IX. That Article 209, letter b), of the Banking Law establishes that, banks also may
not grant loans to a person so that they subscribe to shares of their own capital or shares of companies belonging to the same Financial Conglomerate.
X. That Article 155 of the Cooperative Banks and Savings and Credit Societies Law
establishes that, unless otherwise provided in Book Four of said Law, Savings and Credit Societies shall be subject to the provisions of the Banking Law.
XI. That Article 157 of the Cooperative Banks and Savings and Credit Societies Law
establishes that, the provisions of the Banking Law contained in Title Two, relating to the organization, administration and operation, shall apply to Savings and Credit Societies, with the modifications described in said article.

THEREFORE, by virtue of the regulatory powers conferred upon it by Article 99 of the Law on Supervision and Regulation of the Financial System,

AGREES to issue the following:
TECHNICAL NORMS FOR THE AUTHORIZATION OF TRANSFER OF SHARES OF BANKS, INVESTMENT BANKS, SOLE PURPOSE HOLDING COMPANIES AND SAVINGS AND CREDIT SOCIETIES (1)

CHAPTER I
OBJECTIVE, SUBJECTS AND TERMS

NRP-55
OF SHARES OF BANKS, INVESTMENT BANKS,
SOLE PURPOSE HOLDING COMPANIES AND SAVINGS AND CREDIT SOCIETIES Approval: 29/02/2024 Validity: 15/03/2024 Objective Art. 1.- These Norms have as their objective to establish the requirements and procedures that interested parties must comply with to obtain authorization to acquire shares of banks, investment banks, sole purpose holding companies, and savings and credit societies, in a percentage greater than one percent or ten percent of the social capital of the issuing entity and to establish the procedures and requirements that banks or sole purpose holding companies must comply with, derived from the transfer of shares. (1) Subject Art. 2.- The subjects obliged to comply with the provisions established in these Norms are:
a) Banks; b) Sole purpose holding companies; c) Savings and credit societies; d) Shareholders of banks, sole purpose holding companies, and savings and credit societies; (1) e) Natural and legal persons who intend to acquire shares of banks or of sole purpose holding companies or of savings and credit societies, in excess of one percent or for an amount equal to or greater than ten percent; and (1) f) Investment Banks. (1) Terms Art. 3.- For the purposes of these Norms, the terms indicated below have the following meaning:
a) Entity: Refers to Banks, Investment Banks, Sole Purpose Holding Companies and Savings and Credit Societies; (1) b) Central Bank: Central Bank of Reserve of El Salvador; c) Repealed (1); and d) Superintendency: Superintendency of the Financial System.

CHAPTER II
INFORMATION REQUIREMENTS ON THE TRANSFER OF SHARES Art. 4.- Any natural or legal person must request authorization from the Superintendency to acquire more than one percent of the share capital of an entity or when they intend to acquire a percentage equal to or greater than ten percent. For the determination of more than one percent, mentioned in the first paragraph of this article, the applicant's own participation will be added to the proportion that corresponds to them when they participate in the equity of legal persons that are shareholders of the entity. For the case of more than ten percent, it will be added to the shares of the holder or applicant, those of the spouse, those of relatives within the first degree of consanguinity and the proportional part that corresponds to them in shareholder companies of the entity, depending on the entity where they intend to acquire the shares. When it concerns the acquisition of shares of an entity, the participation that corresponds to them in the sole purpose holding company will be added.

Application for authorization of share transfer Art. 5.- Interested parties in the transfer of shares of Banks, Sole Purpose Holding Companies, and Savings and Credit Societies, must present the application in accordance with the models established in Annexes Nos. 1 and 2 of these Norms, and in the case of Investment Banks according to models of Annexes No. 8 and 9 of these Norms, incorporating the following documentation:
(1) a) Sworn declaration, according to models of Annexes Nos. 3, 4 and 5 of these Norms, in which they state that they are not in any of the circumstances established in Article 14 of these Norms, explicitly mentioning each one of them. When it concerns the acquisition of shares of an Investment Bank, the sworn declaration must state that they are not in any of the causes indicated in Article 17 of the Investment Banks Law. according to models of Annexes 10 and 11 of these Norms. (1) This declaration must indicate that the funds for the acquisition of the shares come from legitimate activities, as well as the immediate source of obtaining the resources. When the applicant is a legal person, the sworn declaration must be signed by the legal representative; The information referred to in this letter must be accompanied by the documentation that proves the origin of the funds; b) Certificate issued by the Attorney General's Office, certifying that no judicial participation has been proven in activities related to narcotics trafficking and related crimes and with money laundering, financing of terrorism and financing of the proliferation of weapons of mass destruction; or sworn declaration of the applicant, granted before a Notary, according to model of Annex No. 6 of these Norms; (2) c) Certificate issued by the General Directorate of Penal Centers, or sworn declaration of the applicant, issued before a Notary, of having no criminal records, according to model of Annex No. 7 of these Norms; d) Copy of the Unique Identity Document (DUI), when the applicant is a Salvadoran natural person; e) Certified copy of the passport, when the applicant is a foreign natural person; f) Copy of the Tax Identification Number (NIT), which will be in accordance with what established by the Tax Administration; g) The last audited financial statements with their corresponding opinion and notes,

NRP-55
OF SHARES OF BANKS, INVESTMENT BANKS,
SOLE PURPOSE HOLDING COMPANIES AND SAVINGS AND CREDIT SOCIETIES Approval: 29/02/2024 Validity: 15/03/2024 when by legal provision the applicant is obliged to have external audit; in the case that the application is presented after June 30, the last trial balance must be attached, if the applicant is obliged to keep formal accounting; h) Certification mentioning the names of the main shareholders or partners of the legal person applicant, with their corresponding equity participation; i) Updated credentials of the Board of Directors of the applicant entity; j) Share transfer agreement signed between the parties, in case that the share acquisition is of more than fifty percent of participation; k) Resolution issued by the Competition Superintendency regarding the economic concentration, in cases where such authorization is required in accordance with the Competition Law; and l) In the case of being a legal person, report signed by the Compliance Officer or its equivalent according to the legislation of the country of origin of the entity applicant, regarding the due diligence of the origin of the funds (sources of funds, and verification of documentation) and regarding the due diligence in the knowledge of the shareholders who contribute, providing in each case documentary evidence. The above requirements are extendable to its shareholders with a participation equal to or greater than ten percent and Board of Directors members. The application and documentation may be presented through the means made available by the Superintendency, which may be electronic. In any case, the period referred to in the first paragraph of Article 10 of these Norms, will begin to run from the next business day after the application has been presented.

Certification
Art. 6.- In the case of Banks, Sole Purpose Holding Companies and Savings and Credit Societies, when the transfer of shares is one of those requiring authorization according to these Norms, such entities must obtain certification of the corresponding authorization granted by the Superintendency, prior to the registration in the shareholder register. (1) In the case of Investment Banks, when as a result of a transfer of shares, a shareholder owns more than ten percent of the capital of said Bank, the referenced entity must obtain certification of the corresponding authorization granted by the Superintendency, prior to registration in the shareholder register. (1)

Share transfer report
Art. 7.- The transfer of shares carried out in accordance with what is established in these Norms, must be communicated to the Superintendency in accordance with the "Technical Norms for the Information Collection Procedure for the Shareholder Register" (NRP -37), approved by the Central Bank through its Committee of Norms.

Presentation of sworn declaration
Art. 8.- In the case of Banks, Sole Purpose Holding Companies and Savings and Credit Societies, shareholders holding more than one percent of the shares of determined entities must present to the Superintendency within the first ninety days of each year, through the entity, a sworn declaration in which they state that they are not in any of the circumstances established in Article 11 of the Banking Law. (1)

Presentation of financial statements
Art. 9.- Those who are holders of shares of an entity for a sum equal to or greater than ten percent of the social capital, in addition to what is established in Article 8 of these Norms, must present to the Superintendency within the first one hundred and twenty days of each year, through the respective entity, their audited annual financial statements by an auditor registered in the Register of External Auditors kept by the Superintendency. In the case that the shareholder is a foreign entity, they must be audited by an internationally recognized audit firm.

CHAPTER III
AUTHORIZATION FOR THE TRANSFER OF SHARES

Procedure for the authorization of the transfer of shares Art. 10.- Upon receipt of the application for authorization for the transfer of shares, in accordance with what is established in Article 5 of these Norms, the Superintendency will proceed to verify compliance with the requirements defined in the Banking Law, Investment Banks Law and in these Norms, having a maximum period of up to twenty business days for the authorization or denial of the corresponding application. (1) If the application does not come with the complete and proper information, as detailed in Article 5 of these Norms, the Superintendency, due to the lack of necessary requirements, may require the applicant to present the missing documents within a period of ten business days counted from the day following the notification, a period that may be extended at the request of the interested parties when there are reasons justifying it. The Superintendency in the same notice will indicate to the applicant that if they do not complete the information within the aforementioned period, it will proceed without further procedure to archive the application, leaving them free to present a new application. If after the analysis of the documentation presented in accordance with Article 5 of these Norms, the Superintendency has observations or when the documentation or information that has been presented is not sufficient to establish the facts or information that is intended to be proven, the Superintendency

NRP-55
OF SHARES OF BANKS, INVESTMENT BANKS,
SOLE PURPOSE HOLDING COMPANIES AND SAVINGS AND CREDIT SOCIETIES Approval: 29/02/2024 Validity: 15/03/2024 will notify the applicant to remedy the deficiencies communicated to them or present additional documentation or information requested by them. The applicant will have a maximum period of ten business days counted from the next business day after the notification, to resolve the observations or present the additional information required by the Superintendency. The Superintendency may, through a reasoned resolution, extend by up to another ten business days, the period indicated in the previous paragraph, when the nature of the observations or deficiencies notified so requires.

Extension period
Art. 11.- The applicant may present to the Superintendency a request for extension of the period indicated in the fifth paragraph of Article 10 of these Norms, before the expiration of said period, must express the grounds on which it is based and propose, if applicable, the relevant proof. The extension period may not exceed ten business days and will start from the next business day after the expiration date of the original period.

Suspension of the period
Art. 12.- The period of twenty business days indicated in the first paragraph of Article 10 of these Norms, will be suspended for the days that elapse between the notification of the request for information or documentation referred to in the second and fifth paragraphs of said article, until the observations required by the Superintendency are remedied.

Resolution
Art. 13.- Once the complete and proper documentation is presented, the Superintendency through a resolution will respond to the application for authorization for the transfer of shares. The Superintendency will proceed to notify the interested party and the corresponding entity of the resolution in which it authorizes or denies the application for authorization for the transfer of shares, within a maximum period of three business days from the date of issuance.

Regarding the denial of the application
Art. 14.- In the case of Banks, Sole Purpose Holding Companies and Savings and Credit Societies, the Superintendency will deny the application to persons who are in any of the following cases: (1) a) In a state of bankruptcy, suspension of payments or creditors' composition; b) That they have been convicted of any intentional crime; c) That judicial participation has been proven in activities related

NRP-55
OF SHARES OF BANKS, INVESTMENT BANKS,
SOLE PURPOSE HOLDING COMPANIES AND SAVINGS AND CREDIT SOCIETIES Approval: 29/02/2024 Validity: 15/03/2024 with narcotics trafficking and related crimes and with money laundering, financing of terrorism and financing of the proliferation of weapons of mass destruction; (2) d) That they are debtors of the Financial System for credits to which a sanitation reserve of fifty percent or more of the balance has been required; e) That they have been an administrator, director, manager or official of an entity of the Financial System, in which administrative responsibility is demonstrated for said entity, from the validity of the Law on Privatization of Commercial Banks and Savings and Loan Associations, to have incurred:
i. Equity deficiencies of twenty percent or more of the minimum required
by the Banking Law; (1)
ii. That they have received contributions from the State or the Deposit Guarantee Institute for their sanitation;
iii. That they have been intervened by the competent regulatory body; or
iv. That they have been restructured and as a consequence, their authorization to operate as a bank has been revoked.
When it concerns the legal representatives, general manager, executive director and directors with executive positions of financial entities, it will be presumed that they have had responsibility for any of the circumstances indicated above. The presumption shall not apply in the case of those persons who have ceased their functions two years before such situation occurred, nor to those who have participated in the sanitation of financial institutions, based on what is prescribed in the Law on Sanitation and Strengthening of Commercial Banks and Savings and Loan Associations, without prejudice to the responsibility incurred by them subsequent to said sanitation; f) That they have been convicted administratively or judicially for serious infringement of the laws and regulations governing the financial system, especially the collection of funds from the public without authorization, the granting or receipt of loans related in excess of the permitted limit and financial crimes; g) That they cannot demonstrate the legitimate origin of the funds to acquire shares, either because they refuse to provide the information or that it is incomplete; h) That their financial and equity situation is not economically proportional to the value of the shares they intend to acquire; i) That they are persons who were holders of more than one percent of the shares of an entity, which were fully cancelled to absorb losses; and j) When it concerns relevant shareholders who have share participation in another entity equal to or greater than one percent; for the determination of this percentage, direct and indirect participation will be taken into account. When the applicant is a legal person, what is established in the first paragraph of this article shall apply, except for what is contained in letters i) and j), to each of the partners or shareholders who have participation equal to or greater than twenty-five percent, in the equity of the applicant company.

NRP-55
TECHNICAL STANDARDS FOR THE AUTHORIZATION OF SHARE TRANSFERS OF BANKS, INVESTMENT BANKS, EXCLUSIVE PURPOSE HOLDING COMPANIES AND SAVINGS AND CREDIT SOCIETIES Approval: 02/29/2024 Validity: 03/15/2024

In the case of Investment Banks, the Superintendence will deny the request to persons who fall under any of the causes indicated in Article 17 of the Investment Banks Law. (1)

Art. 15.- When a shareholder with a participation equal to or greater than twenty-five percent in the equity of a shareholder company of the entity wishes to transfer percentages of twenty-five percent or more of the capital of that company, they must obtain prior authorization from the Superintendence.

Controlling Companies
Art. 16.- Controlling companies will request authorization from the Superintendence to transfer ownership of the shares of their subsidiaries or joint investment companies, which will be authorized when the consolidated equity fund of the controlling company is not reduced below the minimum required.

The shareholdings of the controlling company in subsidiaries and joint investment companies must be kept free of all encumbrances. However, they may be encumbered with the authorization of the Superintendence.

If for any reason the exclusive purpose controlling company loses majority shareholding in a member company, it must dispose of the remaining shares within a period of one hundred and eighty days, counted from the date of the loss, unless the investment was joint, in which case it may retain them.

CHAPTER IV
OTHER PROVISIONS AND VALIDITY

Submission of Information
Art. 17.- The documentation presented to the Superintendence, in compliance with what is provided for in these Standards, must conform to the corresponding legal formalities, especially regarding the following:
a) The copies presented must be legible and certified by an authorized notary in El Salvador. In the cases of copies of the Unique Identity Document (DUI) and the Tax Identification Number (NIT) or its Graphic Representation, notarial certification will not be required; b) The signatures that match in all types of documentation issued in El Salvador must be authenticated by a Salvadoran notary duly authorized to exercise this function, in accordance with the Notary Law; and c) Public or authentic documents emanating from a foreign country, as well as their photocopies, may be admitted without the need for legalization or apostille, provided they allow reasonable verification of their authenticity, integrity, and content, in accordance with what is established in Article 4-A of the Administrative Procedures Law. (2)

NRP-55
TECHNICAL STANDARDS FOR THE AUTHORIZATION OF SHARE TRANSFERS OF BANKS, INVESTMENT BANKS, EXCLUSIVE PURPOSE HOLDING COMPANIES AND SAVINGS AND CREDIT SOCIETIES Approval: 02/29/2024 Validity: 03/15/2024

In the case that the documents are not in the Castilian language, they must be translated in accordance with what is established in the Law on the Notarial Exercise of Voluntary Jurisdiction and Other Diligences.

Art. 18.- When the applicant for the acquisition of shares in excess of one or ten percent, has been a legal representative, general manager, executive director, or director with an executive position in any of the entities covered by the circumstances referred to in letter e) of Article 14 of these Standards or letter e) of Article 17 of the Investment Banks Law, as applicable, the Superintendence will issue a reasoned resolution indicating the corresponding presumptions, so that this person may exercise their right of defense, for which a period of ten business days will be granted, counted from the next business day following the notification. (1)

In the case that the applicant does not present the defense arguments within the established period or if these are not satisfactory to the Superintendence, it will issue the corresponding resolution.

Irregular Shareholding
Art. 19.- To persons who acquire shares of Banks, Exclusive Purpose Holding Companies, and Savings and Credit Societies, which are not in accordance with what is established in Articles 10, 11, and 12 of the Banks Law, what is established in Article 189 of the aforementioned Banks Law will be applicable. (1)

New Companies or Capital Increase
Art. 20.- The cases of subscription and payment of shares for the constitution of new entities or for an increase in social capital will be authorized as appropriate.

Indirect Ownership
Art. 21.- Persons who indirectly reach a shareholding of shares greater than one percent or equal to or greater than ten percent of the social capital of an entity, will be obliged to request the corresponding authorization upon having knowledge of the fact or upon request of the Superintendence.

Prohibitions
Art. 22.- In accordance with what is established in Article 209 of the Banks Law, Banks, Exclusive Purpose Holding Companies, and Savings and Credit Societies are prohibited from carrying out credit operations with collateral of their own shares, those of other banks, or those of other companies belonging to the financial conglomerate. (1)

They are also prohibited from granting loans to subscribe and pay for shares of the same bank or companies belonging to the financial conglomerate.

Sanctions
Art. 23.- Non-compliance with the provisions contained in these Standards,

NRP-55
TECHNICAL STANDARDS FOR THE AUTHORIZATION OF SHARE TRANSFERS OF BANKS, INVESTMENT BANKS, EXCLUSIVE PURPOSE HOLDING COMPANIES AND SAVINGS AND CREDIT SOCIETIES Approval: 02/29/2024 Validity: 03/15/2024

will be sanctioned in accordance with what is established in the Law on Supervision and Regulation of the Financial System.

Repeal
Art. 24.- These Standards repeal the "Standards on the Transfer of Shares of Banks, Exclusive Purpose Holding Companies, and Savings and Credit Societies" (NPB4-23), approved by the Board of Directors of the Superintendence of the Financial System in Session No. CD-12/2000, of March 1, 2000, whose Organic Law was repealed by Legislative Decree No. 592 which contains the Law on Supervision and Regulation of the Financial System, published in the Official Journal No. 23, Volume No. 390, dated February 2, 2011.

Transitory
Art. 25.- The requests presented in accordance with what is established in the "Standards on the Transfer of Shares of Banks, Exclusive Purpose Holding Companies, and Savings and Credit Societies" (NPB4-23), and which were in process at the time these Standards enter into force, will be continued and concluded in accordance with the regulations under which they began.

Unforeseen Aspects
Art. 26.- The aspects not provided for in regulatory matters in these Standards, will be resolved by the Central Bank through its Standards Committee.

Validity
Art. 27.- These Standards will enter into force as of March 15, two thousand twenty-four.

MODIFICATIONS:
(1) Modifications in the denomination of the Standards, in the Considerations I, II, and III, and in Articles 1, 2, 3, 5, 6, 8, 10, 14, 18, 19, and 22 and incorporation of Annexes Nos. 8, 9, 10, and 11, approved by the Central Bank through its Standards Committee, in Session No. CN-09/2025, of November 10, two thousand twenty-five, with validity as of November 25, two thousand twenty-five. (2) Modifications in Articles 5, 14, and 17 and in Annexes Nos. 3, 4, 5, 6, 10, and 11 approved by the Central Bank through its Standards Committee, in Session No. CN-04/2026 of May 25, two thousand twenty-six, with validity as of June 9, two thousand twenty-six.

NRP-55
TECHNICAL STANDARDS FOR THE AUTHORIZATION OF SHARE TRANSFERS OF BANKS, INVESTMENT BANKS, EXCLUSIVE PURPOSE HOLDING COMPANIES AND SAVINGS AND CREDIT SOCIETIES Approval: 02/29/2024 Validity: 03/15/2024

Annex No. 1
REQUEST FOR AUTHORIZATION TO ACQUIRE AND BE OWNER OF SHARES IN EXCESS OF 1% OR 10% (Natural Persons)

To: Superintendence of the Financial System
Present.

I, _____________________, of _______ years of age, profession or occupation ______________, nationality ________________ , from the domicile of ______________________ with Unique Identity Document No. ___________________, Tax Identification Number (NIT) ___________________, request authorization to acquire and be owner of ________________ shares in _________________ in excess of 1% of its social capital. For the effect of the regulations established in Art. 11 of the Banks Law, I declare under oath the following personal information:

I. THAT I AM THE OWNER OF THE FOLLOWING INVESTMENTS IN SHAREHOLDER ENTITIES OF THE BANK (OPERATING OR IN FORMATION)

Society NIT Name of Partners NIT Nominal Value /u. Total Shares Nominal Value Total % Participation Bank ___________ _________ ____________ ________ ____________ ____________ _________ __________ __________ ___________ _________ ____________ ________ ____________ ____________ _________ __________ __________ ___________ _________ ____________ ________ ____________ ____________ _________ __________ __________ ___________ _________ ____________ ________ ____________ ____________ _________ __________ __________ ___________ _________ ____________ ________ ____________ ____________ _________ __________ __________

II. THAT I AM A DEBTOR IN THE FOLLOWING FINANCIAL SYSTEM INSTITUTIONS.

Financial Institution Amount Maturity Destination Collateral __________________ _____________ _______________ _______________ __________ __________________ _____________ _______________ _______________ __________ __________________ _____________ _______________ _______________ __________ __________________ _____________ _______________ _______________ __________ __________________ _____________ _______________ _______________ __________ __________________ _____________ _______________ _______________ __________

NRP-55
TECHNICAL STANDARDS FOR THE AUTHORIZATION OF SHARE TRANSFERS OF BANKS, INVESTMENT BANKS, EXCLUSIVE PURPOSE HOLDING COMPANIES AND SAVINGS AND CREDIT SOCIETIES Approval: 02/29/2024 Validity: 03/15/2024

Annex No. 1

III. THAT I HAVE BEEN AN OFFICIAL, DIRECTOR, OR MANAGER (FACTOR) IN THE FOLLOWING FINANCIAL SYSTEM INSTITUTIONS:

Financial Institution Position Held Period

---

IV. POSSIBLE TRANSFERORS OR SOURCES OF ACQUISITION OF THE SHARES

The names of the persons who will transfer their shareholding to me are:
______________________________________________________________________________________________ ______________________________________________________________________________________________ or I intend to carry out the acquisition of shares through a public share offer.

V. AMOUNT OF THE TRANSACTION

The transaction or transactions will amount to a sum of (Amount in United States Dollars in numbers and letters).

And for the effects of the prior authorization required by the Banks Law, I sign this in ________________, on the ____________ of the month of _____________ of _________.

Signature of the Applicant

NRP-55
TECHNICAL STANDARDS FOR THE AUTHORIZATION OF SHARE TRANSFERS OF BANKS, INVESTMENT BANKS, EXCLUSIVE PURPOSE HOLDING COMPANIES AND SAVINGS AND CREDIT SOCIETIES

Approval: 02/29/2024
Validity: 03/15/2024

Annex No. 2
REQUEST FOR AUTHORIZATION TO ACQUIRE AND BE OWNER OF SHARES IN EXCESS OF 1% OR 10%

(Legal Persons)

To: Superintendence of the Financial System
Present.

I, _________________, of ___________ years of age, profession or occupation ________________, nationality _____________________, from the domicile of _____________________, with Unique Identity Document No. ___________________________, and with NIT No. ___________________, in my capacity as legal representative of the Company _________________________, nationality ___________, with NIT No. ________________, registered under No. ________ Folio __________ Book __________, dated , of the Commercial Registry of ____________________, I request that my represented party be authorized to be owner of ________________ shares of ______________________ in excess of 1% of its social capital. I declare under oath the following information about my represented party:

I. INVESTMENTS IN ENTITIES THAT WILL BE (OR ARE) SHAREHOLDERS OF THE BANK OR EXCLUSIVE PURPOSE HOLDING COMPANY (OPERATING OR IN FORMATION) Art. 11 of the Banks Law

Name NIT Quantity of Shares Nominal Value /u. Total Nominal Value % Participation Bank Society ___________ ________ ________________ ____________ _____________ ___________ ________ ________________ ____________ _____________ ___________ ________ ________________ ____________ _____________ ___________ ________ ________________ ____________ _____________ ___________ ________ ________________ ____________ _____________ ___________ ________ ________________ ____________ _____________

II. THAT IT IS A DEBTOR IN THE FOLLOWING FINANCIAL SYSTEM INSTITUTIONS.

Financial Institution NIT Maturity Destination Collateral ______________________ ___________ ______________ ___________________ _______________ ______________________ ___________ ______________ ___________________ _______________ ______________________ ___________ ______________ ___________________ _______________ ______________________ ___________ ______________ ___________________ _______________ ______________________ ___________ ______________ ___________________ _______________ ______________________ ___________ ______________ ___________________ _______________ ______________________ ___________ ______________ ___________________ _______________

NRP-55
TECHNICAL STANDARDS FOR THE AUTHORIZATION OF SHARE TRANSFERS OF BANKS, INVESTMENT BANKS, EXCLUSIVE PURPOSE HOLDING COMPANIES AND SAVINGS AND CREDIT SOCIETIES

Approval: 02/29/2024
Validity: 03/15/2024

Annex No. 2

III. ROSTER OF PARTNERS OR SHAREHOLDERS OF MY REPRESENTED PARTY:

Name NIT Nationality Qty. Shares Nominal Value Total Nominal Value % Participation of Partners in the Society __________ ______ ______________ ______________ ____________ __________ ____________ __________ ______ ______________ ______________ ____________ __________ ____________ __________ ______ ______________ ______________ ____________ __________ ____________ __________ ______ ______________ ______________ ____________ __________ ____________ __________ ______ ______________ ______________ ____________ __________ ____________ __________ ______ ______________ ______________ ____________ __________ ____________ __________ ______ ______________ ______________ ____________ __________ ____________ __________ ______ ______________ ______________ ____________ __________ ____________

IV. POSSIBLE TRANSFERORS OR SOURCES OF ACQUISITION OF THE SHARES

The names of the persons who will transfer their shareholding to me are:
____________________________________________________________________________________ or I intend to carry out the acquisition of shares through a public share offer.

V. AMOUNT OF THE TRANSACTION

The transaction or transactions will amount to a sum of (Amount in United States Dollars in numbers and letters).

And for the effects of the prior authorization required by the Banks Law, I sign this in San Salvador, on the __________ days of the month of _____________ of two thousand_________________________.

Signature of the Legal Representative

NRP-55
TECHNICAL STANDARDS FOR THE AUTHORIZATION OF SHARE TRANSFERS OF BANKS, INVESTMENT BANKS, EXCLUSIVE PURPOSE HOLDING COMPANIES AND SAVINGS AND CREDIT SOCIETIES

Approval: 02/29/2024
Validity: 03/15/2024

Annex No. 3

MODEL OF SWORN DECLARATION
(Natural Person)

In the city of _______________________________ at _____ hours on the day ____ of ______________ of_______________________. Before me, , Notary of the domicile of appears Mr.________________ of ______ years of profession (or occupation)____________________ , from the domicile of ____________ whom I know (or do not know), holder of (or identified by) Unique Identity Document No. (or passport number), consequently of requesting authorization for the acquisition of shares of the bank______________________ in excess of one percent (or of ten percent or more) of the social capital of that cited entity; under oath he tells me that: I) That he is not in a state of bankruptcy, suspension of payments, or creditors' agreement; II) That he has never been convicted of any intentional crime; III) That he has never been judicially proven to have participated in activities related to drug trafficking and related crimes or with money laundering, terrorism financing, and financing of the proliferation of weapons of mass destruction; IV) That he is not a debtor in the Financial System of credits for which a reserve for cleaning of fifty percent or more of the balance has been required; V) That since December 20, nineteen ninety, while he has been an administrator (or director or manager) of Financial System entities, administrative responsibility has not been demonstrated to him for equity deficiencies of twenty percent or more of the respective entity, nor that the same has received contributions from the State or the Deposit Guarantee Institute for its cleaning, nor in the intervention by the competent regulatory body, or that it has been restructured and consequently its authorization to operate as a bank has been revoked; VI) That he has never been convicted administratively or judicially for a serious infringement of the laws governing the Financial System; VII) That the funds to acquire the shares come from lawful activities, which immediately originate from (a deposit, the sale of an asset, obtaining a loan, etc.), consequently, said funds are not related under any circumstance in situations contrary to the Special Law for the Prevention, Control, and Sanction of Money Laundering, Terrorism Financing, and Financing of the Proliferation of Weapons of Mass Destruction; VIII) That he has never been the holder of more than one percent of shares of banks that have been totally cancelled to absorb losses; IX) That he does not have direct or indirect shareholding in another bank that is greater than one percent of its social capital (only in the case of relevant shareholders). The appearing party tells me that the aforementioned declaration is true and that he knows the responsibility he may incur for any falsehood in it. Thus the appearing party expressed himself, to whom I explained the legal effects of this notarial act which consists of ______pages; and having read it to him by me in a single act,
without interruption and in its entirety, he ratifies its content and we sign: I CERTIFY. (2)

NRP-55
TECHNICAL STANDARDS FOR THE AUTHORIZATION OF SHARE TRANSFERS OF BANKS, INVESTMENT BANKS, EXCLUSIVE PURPOSE HOLDING COMPANIES AND SAVINGS AND CREDIT SOCIETIES

Approval: 02/29/2024
Validity: 03/15/2024

Annex No. 4

MODEL OF SWORN DECLARATION
(Legal Person)

In the city of _______________________________ at _____ hours on the day ____ of ______________ of_______________________. Before me, , Notary of the domicile of appears Mr.________________ of ______ years of profession (or occupation) , from the domicile of ____________ whom I know (or do not know), holder of (or identified by) Unique Identity Document number (or passport number), acting in his capacity as Legal Representative of , personhood which I certify to be legitimate and sufficient by having had in view the following documents:___________________________________________________________________ ___________________________________________________________________________ ; he tells me that for the effect that his represented party be authorized for the acquisition of shares of the bank_________ in excess of one percent (or of ten percent or more) of the social capital of that cited entity; under oath, regarding his represented party, he tells me that: I) That his represented party is not in a state of bankruptcy, suspension of payments, or creditors' agreement; II) That it is not a debtor in the Financial System of credits for which a reserve for cleaning of fifty percent or more of the balance has been required; III) That it has never been convicted administratively or judicially for a serious infringement of the laws governing the Financial System; IV) That the funds to acquire the shares come from lawful activities, which immediately originate from (a deposit, the sale of an asset, obtaining a loan, etc.), consequently, said funds are not related under any circumstance in situations contrary to the Special Law for the Prevention, Control, and Sanction of Money Laundering, Terrorism Financing, and Financing of the Proliferation of Weapons of Mass Destruction; V) That it has never been the holder of more than one percent of shares of banks that have been totally cancelled to absorb losses; VI) That it does not have direct or indirect shareholding in another bank that is greater than one percent of its social capital (only in the case of relevant shareholders). The appearing party tells me that the aforementioned declaration is true and that he knows the responsibility he may incur for any falsehood in it. Thus the appearing party expressed himself, to whom I explained the legal effects of this notarial act which consists of ______pages; and having read it to him by me in a single act, without interruption and in its entirety, he ratifies its content and we sign: I CERTIFY. (2)

NRP-55
TECHNICAL STANDARDS FOR THE AUTHORIZATION OF SHARE TRANSFERS OF BANKS, INVESTMENT BANKS, EXCLUSIVE PURPOSE HOLDING COMPANIES AND SAVINGS AND CREDIT SOCIETIES

Approval: 02/29/2024
Validity: 03/15/2024

Annex No. 5

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SWORN DECLARATION MODEL
(Shareholders of applicant legal entities)
In the city of _______________________________ at _____ hours on the day ____ of ______________ of _______________________. Before me, _____________________________, Notary of the domicile of ___________________ appears Mr. __________________________ of ______ years of age, profession (or occupation) ____________________, from the domicile of ____________ whom I know (or do not know), holder of (or identified by) Unique Identity Document number (or passport number), in his capacity as a shareholder with a participation equal to or greater than twenty-five percent in the equity of the company __________________________ which is requesting authorization for the acquisition of shares of the bank ______________________ in excess of one percent (or ten percent or more) of the social capital of that cited entity; under oath he tells me: I) That he is not in a state of bankruptcy, suspension of payments, or creditors' concourse; II) That he has never been convicted of any intentional crime; III) That he has never been judicially proven to have participated in activities related to drug trafficking and related crimes, or with money laundering, terrorism financing, and financing of the proliferation of weapons of mass destruction; IV) That he is not a debtor in the Financial System of credits for which a fifty percent balance safeguarding reserve has been required; V) That since December twenty, nineteen hundred ninety, while he has been an administrator (or director or manager) of entities of the Financial System, no administrative responsibility has been demonstrated in patrimonial deficiencies of twenty percent or more of the respective entity, nor that it has received contributions from the State or the Deposit Guarantee Institute for its safeguarding, nor in the intervention by the competent regulatory body, or that it has been restructured and consequently its authorization to operate as a bank has been revoked; VI) That he has never been convicted administratively or judicially for serious infringement of the laws governing the Financial System; and VII) That he has never been the holder of more than one percent of shares of banks that have been completely cancelled to absorb losses. The applicant states that the above declaration is true and that he is aware of the liability he may incur for any falsity therein. Thus expressed the applicant, to whom I explained the legal effects of this notarial deed which consists of ______ pages; and having read it to him by me in a single act, without interruption and in its entirety, he ratifies its content and we sign: I HEREBY CERTIFY. (2)

NRP-55
OF SHARES OF BANKS, INVESTMENT BANKS,
EXCLUSIVE PURPOSE HOLDING COMPANIES AND SAVINGS AND CREDIT SOCIETIES

Approval: 29/02/2024
Validity: 15/03/2024
Annex No. 6

SWORN DECLARATION MODEL
(If there is no judicial evidence against)

In the city of _______________________________ at _____ hours on the day ____ of ______________ of _______________________. Before me, _____________________________, Notary of the domicile of ___________________ appears Mr. __________________________ of ______ years of age, profession (or occupation) ____________________, from the domicile of ____________ whom I know (or do not know), holder of (or identified by) Unique Identity Document number (or passport number), consequently of requesting authorization for the acquisition of shares of the bank ______________________ in excess of one percent (or ten percent or more) of the social capital of that cited entity; under oath he tells me that: I) That he has never participated in any way in crimes related to drug trafficking and related crimes, nor with money laundering, terrorism financing, and financing of the proliferation of weapons of mass destruction, consequently, he has never been judicially proven to have participated judicially in those types of crimes; II) That he knows the difference between being convicted judicially for the commission of a crime and being convicted for the same, by having been properly advised regarding this (or by being knowledgeable of the criminal matter governing our country). The applicant states that the above declaration is true and that he is aware of the liability he may incur for any falsity therein. Thus expressed the applicant, to whom I explained the legal effects of this notarial deed which consists of ______ pages; and having read it to him by me in a single act, without interruption and in its entirety, he ratifies its content and we sign: I HEREBY CERTIFY. (2)

NRP-55
OF SHARES OF BANKS, INVESTMENT BANKS,
EXCLUSIVE PURPOSE HOLDING COMPANIES AND SAVINGS AND CREDIT SOCIETIES

Approval: 29/02/2024
Validity: 15/03/2024
Annex No. 7

SWORN DECLARATION MODEL
(No criminal record)
In the city of _______________________________ at _____ hours on the day ____ of ______________ of _______________________. Before me, _____________________________, Notary of the domicile of ___________________ appears Mr. __________________________ of ______ years of age, profession (or occupation) ____________________, from the domicile of ____________ whom I know (or do not know), holder of (or identified by) Unique Identity Document number (or passport number), consequently of requesting authorization for the acquisition of shares of the bank ______________________ in excess of one percent (or ten percent or more) of the social capital of that cited entity; under oath he tells me that: I) That he has never been convicted for having participated in any way in the commission of any intentional crime; II) That he knows the nature of intentional crimes, by having been properly advised regarding this (or by being knowledgeable of the criminal matter governing our country). The applicant states that the above declaration is true and that he is aware of the liability he may incur for any falsity therein. Thus expressed the applicant, to whom I explained the legal effects of this notarial deed which consists of ______ pages; and having read it to him by me in a single act, without interruption and in its entirety, he ratifies its content and we sign: I HEREBY CERTIFY.

NRP-55
OF SHARES OF BANKS, INVESTMENT BANKS,
EXCLUSIVE PURPOSE HOLDING COMPANIES AND SAVINGS AND CREDIT SOCIETIES

Approval: 29/02/2024
Validity: 15/03/2024
Annex No. 8 (1)

REQUEST FOR AUTHORIZATION TO ACQUIRE AND BE OWNER OF SHARES IN EXCESS OF 1% OR 10% (NATURAL PERSONS) To the Superintendency of the Financial System Present. I, _______________________, of _________ years of age, profession or occupation _________________, of nationality _________________ from the domicile of ____________________, with Identity Document No.__________, and Tax Identification Number (which shall be in accordance with what is established by the Tax Administration) No. ____________ request authorization to acquire and be owner of shares in _______________________ in excess of 1% or 10% of its social capital. For the purposes of the regulations established in
Article 17 of the Investment Banks Law, I declare under oath the following personal information:
I. THAT I AM THE OWNER OF THE FOLLOWING INVESTMENTS IN COMPANIES THAT WILL BE
SHAREHOLDERS OF THE INVESTMENT BANK (OPERATING OR IN FORMATION) Company NIT Name of Partners NIT Nominal Value Each Total Shares Nominal Value Total % Part. ________ ______ ________ _____ ________ _________ _____ ____ ________ ______ ________ _____ ________ _________ _____ ____ ________ ______ ________ _____ ________ _________ _____ ____

II. THAT I AM A DEBTOR IN THE FOLLOWING ENTITIES OF THE FINANCIAL SYSTEM

Financial Entity Reference Balance at Maturity Destination Guarantee ___________ __________ _________ ____________ ___________ __________ _________ ____________ ___________ __________ _________ ____________ ___________ __________ _________ ____________
III. THAT I HAVE BEEN AN OFFICIAL, DIRECTOR OR MANAGER (FACTOR) IN THE FOLLOWING
ENTITIES OF THE FINANCIAL SYSTEM:
Financial Entity Position Held Period

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NRP-55
OF SHARES OF BANKS, INVESTMENT BANKS,
EXCLUSIVE PURPOSE HOLDING COMPANIES AND SAVINGS AND CREDIT SOCIETIES

Approval: 29/02/2024
Validity: 15/03/2024
Annex No. 8 (1)
IV. THAT I AM AWARE OF THE PENAL RESPONSIBILITIES RELATING TO THE FORGERY OF
DOCUMENTS CONTAINED IN THE PENAL CODE.
Likewise, I declare that I am aware of the causes for which the Superintendency may deny the acquisition of shares by more than 1% or 10%; that I am not in any of them; and that I comply with the requirements for the authorization requested. And for the purposes of the prior authorization required by the Investment Banks Law, I sign this in ____________________, at the ___________ of the month of _____________ of two thousand _________ Signature of the Applicant

NRP-55
OF SHARES OF BANKS, INVESTMENT BANKS,
EXCLUSIVE PURPOSE HOLDING COMPANIES AND SAVINGS AND CREDIT SOCIETIES

Approval: 29/02/2024
Validity: 15/03/2024
Annex No. 9 (1)

REQUEST FOR AUTHORIZATION TO ACQUIRE AND BE OWNER OF SHARES IN EXCESS OF 1% OR 10% (LEGAL ENTITIES) To the Superintendency of the Financial System Present. I, _____________________, of _____ years of age, profession or occupation ____________, of nationality, __________, from the domicile of ______________, with Identity Document No. ________________, in my capacity as legal representative of the Company _____________________ of nationality ___________________________, with Tax Identification Number (TIN) No. _______________________________, registered under No. _________ Folio _______ Book ________, dated ____________, of the Commercial Registry of __________, request that my represented party be authorized to be the owner of __________ shares of _________ in excess of 1% or 10% of its social capital. I declare under oath the information of my represented party as follows:
I. INVESTMENTS IN COMPANIES THAT WILL BE SHAREHOLDERS OF THE INVESTMENT BANK
(OPERATING OR IN FORMATION) ARTICLE 17 OF THE INVESTMENT BANKS LAW).
Name
Company TIN Quantity of
Shares Nominal
Value Each Nominal
Value Total
% Participation

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II. THAT IT IS A DEBTOR IN THE FOLLOWING ENTITIES OF THE FINANCIAL SYSTEM

Financial Entity Amount Maturity Destination Guarantee ______________ ____________ ______________ ____________ _____________ ______________ ____________ ______________ ____________ _____________ ______________ ____________ ______________ ____________ _____________ ______________ ____________ ______________ ____________ _____________

III. LIST OF PARTNERS OR SHAREHOLDERS OF MY REPRESENTED PARTY:

Name of Partners TIN Nationality Qty. Shares in the Co. Nominal Value Nominal Value Total % Participation __________ _______ ____________ __________ __________ _______ ____________ __________ __________ _______ ____________ __________

NRP-55
OF SHARES OF BANKS, INVESTMENT BANKS,
EXCLUSIVE PURPOSE HOLDING COMPANIES AND SAVINGS AND CREDIT SOCIETIES

Approval: 29/02/2024
Validity: 15/03/2024
Annex No. 9 (1)
IV. THAT I AM AWARE OF THE PENAL RESPONSIBILITIES RELATING TO THE FORGERY OF
DOCUMENTS CONTAINED IN THE PENAL CODE
Likewise, I declare that I am aware of the causes for which the Superintendency may deny the acquisition of shares by more than 1% or 10%; that my represented party is not in any of them; and that it complies with the requirements for the authorization requested. And for the purposes of the prior authorization required by the Investment Banks Law, I sign this in San Salvador, on the ___________ days of the month of ______________ of two thousand______ Signature of the Legal Representative

NRP-55
OF SHARES OF BANKS, INVESTMENT BANKS,
EXCLUSIVE PURPOSE HOLDING COMPANIES AND SAVINGS AND CREDIT SOCIETIES

Approval: 29/02/2024
Validity: 15/03/2024
Annex No. 10 (1)

SWORN DECLARATION MODEL OF SHAREHOLDERS
(Natural Person)

In the city of _______________________________ at _____ hours on the day ____ of ______________ of _______________________. Before me, __________________________, Notary of the domicile of ___________________ appears the Mr. __________________________ of ______ years of age, profession (or occupation) ____________________, from the domicile of ____________ whom I know (or do not know), holder of (or identified by) Unique Identity Document No. (or passport number), in consequence of requesting authorization for the acquisition of shares of the Investment Bank ______________________ in excess of one percent (or ten percent or more) of the capital social of that cited entity; under oath he tells me that: I) That he is not a director, official or employee of any other Investment Bank, bank, cooperative bank, savings and credit society or official credit institution or persons who engage in activities similar to those of Investment Banks; except in cases where these societies are within the same financial conglomerate; those who are debtors of the Investment Banks in question, except when their debt has been authorized in accordance with what is provided in article 19 of the Investment Bank Law; II) That he is not in a state of bankruptcy, suspension of payments, or creditors' concourse and that in no case has he been judicially qualified as responsible for a culpable or intentional bankruptcy; III) That he is not a debtor of the Salvadoran Financial System for credits for which a safeguarding reserve of fifty percent or more of the balance has been required; IV) That he has not been an administrator, director or manager, or official of an institution of the Financial System in which it is demonstrated administratively, his responsibility for said institution, from the effective date of the Law on Privatization of Commercial Banks and Savings and Loan Associations, to have incurred patrimonial deficiencies of twenty percent or more of the minimum required by law, have received contributions from the State or the Deposit Guarantee Institute for its safeguarding, have been intervened by the competent body, or have been restructured and consequently their authorization to operate as a bank has been revoked; V) That he has not been convicted for having committed or intentionally participated in the commission of any crime; VI) That it has not been judicially proven to have participated in activities related to drug trafficking and related crimes and with money laundering, terrorism financing, and financing of the proliferation of weapons of mass destruction; VII) That he has not been sanctioned administratively or judicially for his participation in serious infringement of laws and norms of a financial nature, especially the collection of funds from the public without authorization, the granting or receipt of loans related in excess of the permitted limit and financial crimes; VII) That he is not the President and Vice President of the Republic, minister
and vice minister of State, deputy owner, owner magistrate of the Supreme Court of Justice and of the Courts of Second Instance, or president of the institutions and state enterprises of an autonomous character. The applicant states that the above declaration is true and that he is aware of the liability he may incur for any falsity therein. Thus expressed the applicant, to whom I explained the legal effects of this notarial deed which consists of ______ pages; and having read it to him by me in a single act, without interruption and in its entirety, he ratifies its content and we sign: I HEREBY CERTIFY. (2)

NRP-55
OF SHARES OF BANKS, INVESTMENT BANKS,
EXCLUSIVE PURPOSE HOLDING COMPANIES AND SAVINGS AND CREDIT SOCIETIES

Approval: 29/02/2024
Validity: 15/03/2024
Annex No. 11 (1)
SWORN DECLARATION MODEL OF SHAREHOLDERS
(Legal Entity)

In the city of _______________________________ at _____ hours on the day ____ of ______________ of . Before me, , Notary of the domicile of ___________________ appears Mr. __________________________ of ______ years of age, profession (or occupation) , from the domicile of ____________ whom I know (or do not know), holder of (or identified by) Unique Identity Document number (or passport number), acting in his capacity as Legal Representative of , personhood which I certify is legitimate and sufficient for having had the documents below: .__________________ ; he tells me that for the purpose that his represented party be authorized for the acquisition of shares of the Investment Bank ______________________ in excess of one percent (or ten percent or more) of the social capital of that cited entity; under oath, regarding his represented party, he tells me that: I) That his represented party is not in a state of bankruptcy, suspension of payments, or creditors' concourse and that in no case has it been judicially qualified as responsible for a culpable or intentional bankruptcy; II) That it is not a debtor of the Salvadoran Financial System for credits for which a safeguarding reserve of fifty percent or more of the balance has been required; III) That it has not been convicted for having committed or intentionally participated in the commission of any crime; IV) That it has not been judicially proven to have participated in activities related to drug trafficking and related crimes and with money laundering, terrorism financing, and financing of the proliferation of weapons of mass destruction; V) That it has not been sanctioned administratively or judicially for its participation in serious infringement of laws and norms of a financial nature, especially the collection of funds from the public without authorization, the granting or receipt of loans related in excess of the permitted limit and financial crimes. The applicant states that the above declaration is true and that he is aware of the liability he may incur for any falsity therein. Thus expressed the applicant, to whom I explained the legal effects of this notarial deed which consists of ______ pages; and having read it to him by me in a single act, without interruption and in its entirety, he ratifies its content and we sign: I HEREBY CERTIFY. (2)