The report concludes with a vote of confidence in the Oversight Committee and a recommendation for its continuation, noting that the DCV maintains a robust internal control environment with risks that are reasonably mitigated.

On March 13, the Central Securities Depository (DCV) held its 31st Depositors’ Meeting, during which the Supervisory Committee presented its management report for the 2025–2026 period, which was approved by the depositors.

During this period, the Committee implemented a plan focused on following up on audits, overseeing critical processes, and assessing the internal control environment, while maintaining ongoing coordination with DCV management. This work included regular meetings, reviews of internal and external audits, and monitoring of operational and technological risks.

Rodrigo Roblero, general manager of DCV, stated that “I would like to thank the committee for its work; we coordinated very closely, while obviously maintaining the committee’s independence, but I believe that working in a coordinated manner greatly facilitates the process. Therefore, the committee and the company add value through the reviews and recommendations they provide”.

Among the highlights of the fiscal year were the engagement of PwC to assess internal controls and inventory processes, as well as the collaboration with specialized consulting firms to strengthen the bidding framework and related procedures. Additionally, a cybersecurity exercise was conducted with Dreamlab, which allowed for the evaluation of incident detection and response capabilities, demonstrating an adequate level of maturity within the internal team.

In terms of internal control, the results reflect a high level of effectiveness, with significant coverage of critical processes and controls that operate in a timely and documented manner. While opportunities for improvement were identified—primarily related to updating procedures and strengthening monitoring—no significant deficiencies were detected that would affect the integrity of operations.

With regard to reconciliation and balance confirmation, high levels of compliance were achieved, notably 99.28% confirmation among depositors and figures exceeding 96% among international custodians, which reinforces the reliability of the records. The discrepancies identified were minor and had been resolved by the end of the period.

Furthermore, the physical security review concluded that the DCV has an adequate access control system and infrastructure, while cybersecurity testing demonstrated an effective ability to detect and respond to incidents, along with specific areas for improvement in access management and response times.

In line with the above, the Committee’s report concludes that DCV maintains a robust internal control environment, with risks reasonably mitigated and no instances identified that could significantly affect depositors.

Finally, it was decided that the current Supervisory Committee would continue for the new term, reflecting depositors’ confidence in the management’s performance over the past year.

The 2026 Oversight Committee will consist of:

• President: Hugo De La Carrera Prett
• Vice president: Oscar Mehech Castellón
• Secretary: Américo Becerra Morales
• Member: Victoria Martínez Ocamica
• Member: José Miguel Valdés Lira