Press Release

The Fondo de Ahorro de Panamá Releases its Audited Financial Statements for the Second Quarter 2021

Panama | January 11, 2022

The Fondo de Ahorro de Panama (the “FAP” or the “Fund”) has released its audited financial statements for the second quarter of 2021 (“2Q2021”). The following are highlights of the quarter:

• The cumulative gross return for the year to 2Q2021 was 1.27%.

• The excess of income over expense accrued to 2Q2021 was B/. 18.8 million. *

• For the six months ended on the 2Q2021, the Fund generated B/. 13.1 million in interests and dividends.

• Net assets closed the quarter at B/. 1,399.4 million.

FINANCIAL RESULTS

SUMMARY OF AUDITED FINANCIAL STATEMENTS

* The official currency of the Republic of Panama is Balboas (B/.), which is at par and freely exchangeable with the United States dollar (USD); The Republic of Panama does not issue its own currency, and instead, the USD is used as legal tender and is considered the Fund´s functional currency. The financial reports provided by our global custodian are in USD and form the financial basis of this report.

About the Fondo de Ahorro de Panama

The Fund was created by Law 38 of June 5, 2012, whose main objectives are:

1. Establish a long-term savings mechanism for the Panamanian State; and

2. Establish a stabilization mechanism in case of a state of emergency (declared by the Cabinet’s Council) and economic slowdowns.

Contact: Administration, +507-394-5776/5706, administrador@fondoahorropanama.com

For additional information visit www.fondoahorropanama.com

###