Through Resolution No. 2, Minute No. 21, dated May 22, 2025 (the “Resolution”), the Board of Directors of the Central Bank of Paraguay resolved to delegate to the Superintendency of Securities (“SIV”) various powers related to the authorization and supervision of market participants in the securities sector.

Pursuant to the Resolution, the SIV is expressly authorized to grant operating licenses to issuers, external auditors, credit rating agencies, clearinghouses, securitization companies, bondholders’ representatives, commodity brokers, stock and trading desk operators, and investment advisors.

In addition, the SIV is granted the authority to approve the internal regulations of Stock and Commodity Exchanges, Central Securities Depositories, and Clearinghouses.