Morgan & Morgan advised Corporación Andina de Fomento in the listing and placement of a Series of Set-Up Fixed Rate Notes for an amount of up to US$200 million.

Panama, September 30, 2022. Morgan & Morgan represented Corporación Andina de Fomento (CAF- Development Bank of Latin America) (the “Issuer”), in the listing and placement through the Latin American Stock Exchange (“Latinex”) of a Series of Step-Up Fixed Rate Notes for an aggregate of US$200,000,000 (the “Notes”), under the US$30,000,000,000 Medium Term Note Programme. The

Morgan & Morgan advised Cochez y Cía, S.A. in the registration of revolving corporate bonds for an amount of up to US$90 million.

Panama, September 7, 2022. Morgan & Morgan represented Cochez y Cía., S.A. (the “Issuer”), in the registration of revolving corporate bonds for an aggregate of US$90,000,000, 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 in multiple

Morgan & Morgan advised Cochez y Cía, S.A. in the registration of revolving commercial papers for an amount of up to US$10 million.

Panama, September 7, 2022. Morgan & Morgan represented Cochez y Cía., S.A. (the “Issuer”), in the registration of revolving commercial papers for an aggregate of US$10,000,000, 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 in multiple

Morgan & Morgan outstands in Chambers Latin America 2023.

Panama, August 30, 2022. Once again, Morgan & Morgan leads the Panama ranking in Chambers Latin America Guide 2023, the key reference point of Latin American top law firms. The firm achieved 21 top rankings in 7 practice areas, the highest number for a Panamanian law firm. The recommended attorneys are: Allen Candanedo: Intellectual Property.

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 Servicios Financieros Internacional, S.A. in the private issuance of corporate bonds for an amount of up to US$10 million.

Panama, June 2, 2022. Morgan & Morgan advised MERCANTIL SERVICIOS FINANCIEROS INTERNACIONAL, S.A. (the “Issuer”), the holding company of Grupo Mercantil and the indirect holder of leading enterprises in the banking and insurance business in Panama and other countries, in the private issuance of corporate bonds in the amount of US$10,000,000.00 (the “Private Bonds”), which

Morgan & Morgan advised Mercantil Servicios Financieros Internacional, S.A. in the private issuance of cumulative preferred shares for an amount of up to US$30 million.

Panama, June 1, 2022. Morgan & Morgan advised MERCANTIL SERVICIOS FINANCIEROS INTERNACIONAL, S.A. (the “Issuer”), the holding company of Grupo Mercantil and the indirect holder of leading enterprises in the banking and insurance business in Panama and other countries, in the private issuance of cumulative preferred shares for a total of US$30,000,000.00 (the “Preferred Shares”),

Morgan & Morgan advised Banco General, S.A., and Banistmo, S.A. in connection with the public offering and issuance by Fountain Hydro Power Corp. of corporate bonds for an amount of up to US$110 million.

Panama, March 31, 2022. Morgan & Morgan advised Banco General, S.A., and Banistmo, S.A., as arrangers and underwriters in connection with the public offering and issuance by Fountain Hydro Power Corp. of corporate bonds for an amount of up to US$110 million registered with the Superintendency of Capital Markets of Panama and successfully placed through