Argentina: Amendment to Regulatory Decree No. 206/2017
Argentina: Automatic public regulatory framework

in short On January 9, 2025, the National Securities Commission (CNV) released the universal resolution number 1047/2025, and established a regulatory framework ("" for automatic public publicity fundraising (""solve"). Except for other aspects, the resolution provides a special public issuance system and automatically authorizes in the following circumstances: Low -influence discount: no more than 1 million UVA (acquisition of value units) for transfer obligations. At the current UVA rate, this amount is ARS 1,311,850,000. There is no need to make a prospectus or the pre -authorization required for CNV. Unqualified investors were not accepted. Medium influence discount: no more than 7 million ultraviolet transfers. At the current UVA rate, this amount is ARS 9,182,950,000. The offer person must apply for the admission of the system and meet certain other requirements. Unqualified investors were not accepted. Auction of negotiating securities: The transferred securities auction of companies shares that does not include the public issuance system. At least one agent registered on…