Latinex closes 2025 with solid execution and charts the course to climb

stock market in 2026

Panama City, February 12, 2026 — The Latinex Group (Exchange)

Latinoamericana de Valores y Central Latinoamericana de Valores) presentó sus

2025 results and the strategy for 2026, highlighting one year of implementation

strategic, institutional strengthening and concrete progress in infrastructure and

international access, which consolidates the Panamanian stock market as

a growing regional platform.

During 2025, the total trading volume exceeded USD 9.6 billion, with

a 34% increase compared to the previous year, reflecting market confidence

and the dynamism of stock market activity. For its part, Latinclear closed the year with

over USD 44 billion in assets under custody, a 26% increase

compared to 2024, reflecting the strength of the infrastructure and the confidence of the

market participants.

“2025 was a year to execute and demonstrate that the strategy is correct.

We invested in infrastructure, raised standards, and strengthened the market

local, listening to our participants. That work today allows us to look at

“2026 with a clear vision: to scale the market impact,” Olga Cantillo noted,

Executive President of Latinex, during the presentation.

A market in motion

One of the most important advances was the strengthening of the local market

through initiatives that boosted liquidity and expanded participation of

international investors, including the use of the iLink link with Euroclear

Bank, which enabled connecting local issues with global capital of more than 27

countries, without losing their domestic anchor.

International access and new services

Panama's positioning as an international hub continued to strengthen

significantly. In 2025, a cumulative historical record was reached of

over USD 1.6 billion traded through remote operators and

correspondent agreements, with 60% of the volume traded from Panama.

Latinex consolidated Phase II of iLink with Euroclear Bank for issuances

corporate, facilitating the placement of more than USD 100 million by

three corporate issuers, expanding access to international investors

from the Panamanian market.

As part of this evolution, Latinex launched the Listing service.

International in Spanish, a pioneering initiative in Latin America that allows

Issuers, with structures under Rule 144A and RegS, list their securities in Panama

under standards comparable to the main financial centers of

Luxembourg and Singapore. To date, three issuers, IDC Overseas (Guatemala),

Bladex and the National Bank of Panama have used this service, dialing

a firm step towards the internationalization of the Panamanian stock market, and

expanding the visibility and sophistication of the Panamanian market.

The first issue listed in Costa Rican colones by Bladex

The 25 billion colones in the Panamanian market marked a milestone by allowing

that a foreign currency was traded from Panama, demonstrating the

capacity of the Panamanian market to operate in multiple currencies and

to consolidate itself as a regional platform for financial integration.

Sustainability, best practices and stock market education

In terms of sustainability, Latinex continued to strengthen its best practices.

market practices, with the update of its Instruments Guide

Thematic events and the publication of their Sustainability Report for the fourth year

consecutively. It also presented, for the second year, the Voluntary Index of

Latinex Sustainability, which integrates 20 issuers committed to the

Voluntary disclosure of ESG factors, strengthening transparency and

market confidence. These efforts were complemented by the Awards

to the ESG Market Champions, held during the Investors Forum

from Latinex.

In parallel, Latinex reinforced its commitment to talent development and

Stock market education. Through the Stock Market Education Program, training was provided to

more than 2,137 people, a 19% increase compared to the previous year,

consolidating capacity building as part of the infrastructure of

market.

Looking ahead to 2026: scaling up the impact

Looking ahead to 2026, Latinex will focus its strategy on scaling its market impact.

on three priorities: deepening the local market, consolidating Panama as

international access point and actively support participants of

market through trade missions, roadshows and dialogue spaces.

Sustainability will continue to be a strategic pillar across the board.

elevating the Panamanian market towards better practices and standards

international standards in transparency, disclosure and sustainable finance.

“Our focus now is on deepening the local market, expanding global access and

continue to support the participants in this new stage of growth,”

Cantillo concluded.

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