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 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,

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 Orla Mining Ltd. and Minera Cerro Quema, S.A. in connection with a secured credit facility for an amount of up to US$150 million.

Panama, April 28, 2022. Morgan & Morgan advised Orla Mining Ltd., as borrower and Minera Cerro Quema, S.A., as guarantor with respect to a secured credit facility of US$150 million (the “Credit Facility”). The Credit Facility includes a US$100 million term facility and a US$50 million revolving facility through a syndicate of lenders composed of

Morgan & Morgan advised Farmalisto in the acquisition of GoFarma.

Panama, March 30, 2022. Morgan & Morgan acted as Panamanian counsel to Farmalisto in the purchase of 100% of the Mexican pharmacy GoFarma. With this acquisition, the company advances its expansion process in the Mexican market and Latin America. Currently, Farmalisto has a presence in Colombia, Chile, Peru, and Mexico. In this country, it arrived

Morgan & Morgan advised in the reacquisition and purchase of the majority stake of Supermercados Xtra, S.A.

Panama, January 7, 2022. Morgan & Morgan acted as legal counsel of Supermercados Xtra, S.A. (“XTRA”) and Grupo Harari, in the reacquisition by XTRA and the purchase by Grupo Harari of the shares owned by Souq Investments LP, equivalent to 53% of the issued and outstanding shares of XTRA, resulting in Grupo Harari becoming the

Morgan & Morgan advised Supermercados Xtra, S.A. in connection with the offering and issuance of corporate bonds for an amount of up to US$100 million.

Panama, January 5, 2022. Morgan & Morgan advised Supermercados Xtra, S.A., one of the leading supermarket chains in Panama (the “Issuer”), in the amendment to certain terms and conditions of the Issuer’s US$250,000,000 public bond issuance registered with the Superintendency of Capital Markets of Panama in order for the Issuer to offer and issue three

Morgan & Morgan advised Cirsa Enterprises S.L.U in connection with the offering of secured notes for an amount of up to €615,000,000

Panama, September 27, 2021. Morgan & Morgan acted as counsel to Cirsa Enterprises S.L.U. in connection with the offering of €615,000,000 aggregate principal amount of 4.500% Secured Notes due 2027, issued by Cirsa Finance International S.à.r.l., and to be guaranteed by the Cirsa Enterprises S.L.U. and, among others, Gaming & Services de Panama, S.A. Cirsa