Shareholders Annex

The Internal Revenue Service issued the Regulation NAC-DGERCGC22-00000065 on December 30, 2022, by which the rules for the disclosure of the corporate structure were amended. The most important changes are summarized below:

1. The last level of the corporate structure to be disclosed is the one that identifies the individuals who are the beneficial owners of the entity and/or are tax residents in Ecuador. This information excludes nominal or formal holders.

2. If the local entity has as -direct or indirect- shareholder an entity which is not a tax resident in Ecuador, this shareholder will be considered as the last level of the corporate structure to be disclosed if the individuals at the end of the chain own -individually or jointly with their related parties-, less than 10% of the local entity's share capital.