Morgan & Morgan advised Green Tower Properties Inc. and its shareholders in the registration and conversion as a Real Estate Investment Trust and an initial public offering (IPO) of its shares through Latinex.

Panama, March 31, 2023. Morgan & Morgan advised Green Tower Properties Inc. (“Green Tower”) and its shareholders, in the registration and conversion as a Sociedad de Inversión Inmobiliaria (the Panamanian equivalent of a Real Estate Investment Trust or “REIT”) before the Superintendence of the Securities Market of Panama (the Superintendencia del Mercado de Valores or “SMV”),

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Morgan & Morgan advised Dream Properties in the constitution and registration of NF Real Estate Fund Inc. as a Real Estate Investment Fund.

Panama, February 6, 2023. Morgan & Morgan provided legal counsel to Inversiones Inmobiliarias Dream Properties (“Dream Properties”), as sponsor, in the constitution and registration before the the Superintendence of the Securities Market of Panama (the Superintendencia del Mercado de Valores or “SMV”), of NF Real Estate Fund Inc., as a Sociedad de Inversión Inmobiliaria (the

Morgan & Morgan advised Mercantil Holding Financiero Internacional, S.A. and Mercantil Capital S.A., in the closing of the acquisition of Capital Bank, Inc.

Panama, December 12, 2022. Morgan & Morgan advised Mercantil Holding Financiero Internacional, S.A. (“MHFI”), and Mercantil Capital, S.A. (“Mercantil Capital”), subsidiaries of Grupo Mercantil, in relation to the closing of the Promissory Share Purchase Agreement (the “SPA”) dated June 29, 2022, by and among the shareholders of Capital Bank, Inc. (“Capital Bank”) as sellers (the “Sellers”),

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Morgan & Morgan advised Latin American Kraft Investments Inc. in the registration of revolving corporate bonds for an amount of up to US$60 million.

Panama, November 3, 2022. Morgan & Morgan represented Latin American Kraft Investments, Inc. (the “Issuer”), in the registration of revolving corporate bonds for an aggregate amount of US$60,000,000, under the abbreviated registration process for recurring registered issuers with the Superintendency of Capital Markets of Panama, in order for the Issuer to publicly offer the bonds

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Morgan & Morgan advised Latin American Kraft Investments, Inc. in the registration of revolving commercial papers for an amount of up to US$40 million.

Panama, November 3, 2022. Morgan & Morgan represented Latin American Kraft Investments, Inc. (the “Issuer”), in the registration of revolving commercial papers for an aggregate amount of US$40,000,000, under the abbreviated registration process for recurring registered issuers with the Superintendency of Capital Markets of Panama, in order for the Issuer to publicly offer the revolving

Morgan & Morgan advised MMG Bank Corporation in connection with a financing to be granted in favor of Daconan Star Solar, S.A.

Panama, September 8, 2022. Morgan & Morgan represented MMG Bank Corporation (“MMG Bank”), as lender, in a financing to be granted in favor of Daconan Star Solar, S.A. (“Daconan”), to be used for expansion, by 2.64 additional megawatts of the capacity of a photovoltaic project called “Daconan Solar”, with an installed capacity of 3.24 megawatts,

Morgan & Morgan advised Mercantil Holding Financiero Internacional, S.A. in the registration of corporate bonds for an amount of up to US$100 million.

Panama, August 1, 2022. Morgan & Morgan advised Mercantil Holding Financiero Internacional, S.A. (the “Issuer”), an affiliate of Grupo Mercantil and the indirect holder of leading enterprises in the banking and insurance business in Panama and other countries, in the registration of corporate bonds for an aggregate of US$100,000,000 with the Superintendency of Capital Markets

Morgan & Morgan advised Mercantil Servicios Financieros Internacional, S.A. in the issuance of Class “A” and Class “B” common shares for an amount of up to US$30 million.

Panama, July 31, 2022. Morgan & Morgan advised MERCANTIL SERVICIOS FINANCIEROS INTERNACIONAL, S.A. (the “Issuer”), the holding company of Mercantil Group and the indirect holder of leading enterprises in the banking and insurance business in Panama and other countries, in the issuance of Class “A” and Class “B” Common Shares for a total of US$30,000,000.00

Morgan & Morgan advised Supermercados Xtra, S.A. in connection with the registration of common shares for an amount of up to US$45.5 million.

Panama, July 4, 2022. Morgan & Morgan advised Supermercados Xtra, S.A., one of the leading supermarket chains in Panama (the “Issuer”), and its shareholders in the registration of its 12,500,000 common shares (the “Common Shares”) with the Superintendency of Capital Markets of Panama for their negotiation in a secondary market transaction through the Latinamerican Stock

Morgan & Morgan advised Mercantil Holding Financiero Internacional, S.A. (MHFI) in the execution of a promissory share purchase agreement for the acquisition of the majority stake in Capital Bank, Inc.

Panama, June 30, 2022. Morgan & Morgan advised Mercantil Holding Financiero Internacional, S.A. (MHFI), a subsidiary of Grupo Mercantil, in relation to the execution of the Promissory Share Purchase Agreement (the “SPA”) dated June 29, 2022, by and among the shareholders of Capital Bank, Inc. (“Capital Bank”) as sellers (the “Sellers”), and MHFI, as a buyer,