Ecuador

Pino/Elizalde establishes itself as one of the most important law firms in the country with its merger with Bjarner Flores We begin 2026 stronger. Pino/Elizalde Abogados, a full-service law firm, merged with Bjarner Flores, a specialized firm in tax and corporate law. This merger reinforces Pino Elizalde´s presence as a leader in the Ecuadorian market. Both firms were founded in 2017 in the city of Guayaquil. Pino/Elizalde was founded through the partnership of Daniel Pino, Marco (Valentín) Elizalde, and Jaime Arosemena; and Bjarner Flores was founded by attorneys Oscar Bjarner Icaza and Ricardo Flores Gallardo, all Guayaquil-based lawyers with more than 20 years of experience in the legal practice. With this merger, both firms consolidate a new team with the necessary technical expertise to face the current challenges of the legal environment, providing comprehensive and strategic advice on legal issues required by several clients and industries in different areas. Pino/Elizalde is highly regarded by six of the most important legal international publications such as Chambers and Partners, The Legal 500, Leaders League, IFLR1000, ITR Tax World, and Latin Lawyer. This merger will provide the Ecuadorian industry with a law firm with a recognized track record and a comprehensive team ready to support your objectives. Contact: [email protected] Phone: 04-3803790

Quito, Ecuador – December 15, 2025 – BUSTAMANTE FABARA, a premier law firm renowned for its leadership in mergers and acquisitions and its deep experience in complex cross-border transactions, is proud to announce its role as counsel to Primax, Grupo Romero’s energy subsidiary, in the closing of a landmark strategic alliance with UNO Corp. UNO Corp., a Honduran energy company, has now concluded a strategic alliance with Grupo Romero for the integration of Primax’s operations in Peru and Ecuador, while acquiring Primax’s business in Colombia. Through this multi-jurisdictional structure, UNO Corp. gains control of more than 2,100 service stations and over 180 LISTO! convenience stores across the three countries—marking one of the most significant expansions in Latin America’s fuel retail market. BUSTAMANTE FABARA’s multidisciplinary team, led by Partner José Rafael Bustamante Crespo, alongside Director Kirina González and Senior Associate Valentina Morillo, provided end-to-end legal counsel throughout the process, ensuring seamless execution of the transaction through its successful closing. This deal highlights BUSTAMANTE FABARA’s commitment to delivering innovative and business-oriented legal solutions to major clients across Latin America, and reinforces its role as a trusted advisor in high-profile and complex cross-border transactions successfully brought to closing. About BUSTAMANTE FABARA BUSTAMANTE FABARA is one of Ecuador’s leading law firms, with a strong track record advising on complex financial transactions, cross-border deals, and international projects. With over 120 lawyers and 190 total team members, the firm continues to lead in shaping Ecuador’s legal landscape. About Primax Primax, Grupo Romero’s energy subsidiary, is a leading fuel retailer with over two decades of presence in Latin America’s energy sector. Since its founding, Primax has consolidated its position as one of the region’s largest distributors of fuels and lubricants. Through its network of service stations and LISTO! convenience stores, Primax plays a key role in the energy and retail markets of the region, supporting growth and regional development. Press contact: María José Sotomayor Hidalgo Director of Marketing and Communications BUSTAMANTE FABARA Email: [email protected] Phone: 0989728788

Quito, Ecuador – November 25, 2025 – BUSTAMANTE FABARA is pleased to announce that it has advised the shareholder-owners of TRECX S.A. (Pintulac) on the acquisition of a 70% majority interest in PHARMAVIDA S.A.S., a pharmaceutical distribution company in Ecuador, marking a significant strategic expansion for the Pintulac Group into the healthcare and pharmaceutical sectors. The transaction was structured through a Share Purchase Agreement combining an upfront payment to the seller with a capitalization contribution to the company, along with an additional capital injection to be completed within a defined period. This structure not only secures majority control for the shareholder-owners of TRECX S.A. but also strengthens the company’s working capital and supports its medium-term operational growth. BUSTAMANTE FABARA conducted a comprehensive due diligence review of the target, assessing its corporate, regulatory, contractual, and financial standing. The team also led the preparation and negotiation of all core transaction documents, including the Share Purchase Agreement, the Non-Disclosure Agreement, the Shareholders’ Agreement; and the corresponding bylaws reform to reflect the new ownership structure and governance framework. The BUSTAMANTE FABARA team advising the shareholder-owners of TRECX S.A. was led by Managing Partner María Rosa Fabara Vera, together with Director Andrés Becdach and Senior Associate Adriana Lasso, along with other attorneys specializing in corporate and regulatory matters. About BUSTAMANTE FABARA BUSTAMANTE FABARA is one of Ecuador’s leading law firms, with a strong track record advising on complex financial transactions, cross-border deals, and international projects. With over 120 lawyers and 190 total team members, the firm continues to lead in shaping Ecuador’s legal landscape.   About TRECX S.A. (Pintulac) TRECX S.A., part of the Pintulac Group, is one of Ecuador’s most prominent and diversified business groups, recognized for its nationwide presence and leadership in the distribution of industrial, construction, and specialty products. With more than 60 years of experience and a strong focus on innovation, operational excellence, and responsible growth, TRECX S.A. continues to expand its portfolio into new strategic sectors.   Press Contact María José Sotomayor Hidalgo Directora de Marketing y Comunicaciones BUSTAMANTE FABARA Email: [email protected] Phone: +593 98 972 8788

Quito, Ecuador – November 17, 2025 – BUSTAMANTE FABARA acted as Ecuadorian counsel to the shareholders of Anders Ecuador Cía. Ltda. (AEC) in the sale of their majority shareholding in AEC’s to Safic-Alcan S.A.S. (Buyer), advised by PwC. The deal forms part of a multi-country transaction through which Safic-Alcan acquired equity in Anders Group operating companies across nine Latin American jurisdictions. AEC, part of a regional group engaged in the distribution of specialty chemicals, food ingredients, consumables, and equipment for industrial and life sciences applications, will become an affiliate of Safic-Alcan, strengthening its platform and presence in Latin America. BUSTAMANTE FABARA played a key role in the Ecuadorian aspect of the transaction, advising the sellers throughout the process to ensure a smooth and efficient outcome. Led by Partner José Rafael Bustamante C., Director Kirina González, and Senior Associates Valentina Morillo and Gino Ivich, the team provided expert guidance at every stage, securing a successful closing of the deal. This transaction marks an important milestone in the specialty chemicals distribution sector in Latin America, reflecting the firm’s consistent involvement in complex, cross-border M&A transactions. About BUSTAMANTE FABARA BUSTAMANTE FABARA is one of Ecuador’s leading law firms, with a strong track record advising on complex financial transactions, cross-border deals, and international projects. With over 120 lawyers and 190 total team members, the firm continues to lead in shaping Ecuador’s legal landscape. About Anders Ecuador Cía. Ltda. (AEC) Anders Ecuador Cía. Ltda. (AEC) is part of the Anders Group, a regional organization dedicated to the distribution of specialty chemicals, food ingredients, consumables, and equipment for industrial and life sciences applications. The company serves key sectors such as pharmaceuticals, food and beverages, personal care, and industrial manufacturing, providing high-quality products and technical support to clients across Ecuador and Latin America. Press contact: María José Sotomayor Hidalgo Director of Marketing and Communications BUSTAMANTE FABARA Email: [email protected] Phone: 0989728788