Guatemala Overview & CVN: Securities Market Evolution

1. An Introductory OverviewCENTRAL DE VALORES NACIONAL, S.A.Guatemala

2. Contents • Demographics & other information about Guatemala • CVN’s General Information • Systems • Evolution

3. Demographics & other information about Guatemala • Location: Bordered by Mexico to the North; Belize and the Caribbean to the Northeast; Honduras and El Salvador to the Southeast. • Area: 108.889 km2 • Capital : Guatemala City • National Currency : Quetzal ( Q7.85/ US$ ) • Population:14.5 million • Language: Spanish is the official language. 23 indigenous languages are also spoken • Climate: Tropical, warm and humid in lowlands; colder in the highlands • Main Exports: Coffee, sugar, cardamom, bananas. • Natural Resources: Oil, precious metals, precious timber, fish, gum, hydroelectric energy • GDP:US$50,271 MM (Q394,633 MM)

5. Central de Valores Nacional, S.A. -CVN- • Established in 1994; as a Department of Bolsade ValoresNacional, S.A. • Startsworking as a Subsidiary of Bolsa de Valores Nacional, S.A. in June,2011 • Registered at the Securities and Merchandise Registry in 2011 as a Depository Entity • Provides services for 12 broker-dealers and 15 institutional participants

6. Milestones in the History of CVN • 1990 – Stamp tax for securities trading is eliminated • 1990 – First short-term Central Bank debt is traded • 1991 – First private debt is traded • 1991 – First repurchase agreement • 1991 – First trading of Treasury short-term debt • 1994 – Custody and Settlement services start to be provided • 1996 – Securities Market Law is authorized by Congress • 1998 – Starts providing services for Custody of International Securities • 1999 – Institutional participants join securities account • 2003 – BVN is accepted as a member of ACSDA • 2004 – Access to financial statements and inventory through the web site Centro del Inversionista • 2004 – First dematerialized securities are issued • 2006 – Opening of an account in the system of Real Time Gross Settlement (LBTR) of the Central Bank

7. 2006 – Central Securities Depository settles primary markets of public debt through the LBTR System. • 2008 – First Investment Fund is authorized • 2010 – First Multiple Security Deposit is issued • 2011 – BVN delegates CVN the services of custody of assets and Settlement of transactions • 2011 – Registration of CVN as a Central Securities Depository at the Securities and Merchandise Registry • 2011 – Starts working as an independent entity • 2012 – Initiates valuation of public securities and settlement of repurchase transactions • 2012 – CVN is accepted as a member of ACSDA

8. CVN

9. ElectronicSettlementSystem–SEL-

10. ElectronicSettlementSystem–SEL-

11. Account’s General Registry of Annotations–RGAC-

12. Account’sSpecificRegistry of annotations–REAC-

13. SupportSystemforIssuer –SAE-Issuer’sAuxiliaryRegistry–RAE-

14. Sum in custody

15. Breakdown of sum in custody

16. AmountSettledMonthly Millions of Quetzals

17. Capital and interests collected through CVN Figures given in Millions of Quetzals

18. MY INVESTMENTS (Investor’sHub)

19. www.cvn.com.gt

20. THANK YOU…