The Argentine Securities and Exchange Commission ("Comisión Nacional de Valores") limits simultaneous purchase and sale

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THE ARGENTINE SECURITIES AND EXCHANGE COMMISSION ("COMISIÓN NACIONAL DE VALORES") LIMITS SIMULTANEOUS PURCHASE AND SALE SECURITIES TRANSACTIONS FOR INDIVIDUALS

On September 12, 2019, the Argentine Securities and Exchange Commission (Comisión Nacional de Valores or “CNV”) issued General Resolution No. 2019-808-APN-DIR#CNV, which established the following requirements for purchasing foreign-currency-denominated securities by individuals and for amounts of up to US$10,000: (i) the filing of an affidavit in which the individual assures that the funds are not the result of a foreign exchange transaction performed through the Free Single Foreign Exchange Market within the previous 5-business day term; (ii) a minimum 48-hour holding term in portfolio of the relevant securities; and (iii) a minimum 5-business day term for the securities to be transferred in exchange of Argentine pesos.

Should you require further information, please contact Fermín Caride and/or María Victoria Funes.