1.1. By participating in the simulator, participants declare that they are aware that the provisions of these Regulations apply to the simulator and that BURSEN is not responsible for the investment decisions made by the Participants inside or outside the simulator.

1.2. During the simulation, participants must conduct their negotiations following the principles of the stock market, such as stock market transparency.

1.3. Only shares of issuers listed on the Stock Exchange are traded in the Simulator

1.4. At the start of the negotiation in the Simulator, each participant will have a fictitious amount of S/ 500,000.00 (five hundred thousand and 00/100 Soles) which must be used in the purchase of securities made in the Stock Exchange Wheel Simulator (“Simulator”).

1.5. The securities that can be traded in the Contest through the Stock Exchange Simulator will be those belonging to the SP/BVL PERÚ GENERAL in force at the time of the Stock Market Challenge.

1.6. Transactions carried out in the Simulator will be considered as completed and cannot be cancelled, except as indicated in section 5.1 of these regulations.

1.7. Regarding commissions, a single commission of 1% will be charged on the transaction amount as an intermediation cost, which includes the following items:

– Contribution to the SUPERINTENDENCY OF THE MARKET

– Maintenance contribution

– CAVALI A. ICLV Remuneration. (“CAVALI”).

– Liquidation Fund.

– Stockbroker Commission.

– VAT.

1.8. The trading hours in the Simulator are Monday to Friday from 5:00 pm to 11:00 pm. There is no trading simulation in the Simulator on Saturdays, Sundays and holidays.

1.9. On Saturdays and Sundays, you may access the platform for consultation purposes during the established hours, but you will not be able to trade. On holidays, you may enter trades during the established hours, provided the holiday falls on a weekday between Monday and Sunday. These trades will be processed at the closing price of the previous trading day.

1.10. Regarding the securities traded in the Simulator, their trading value will be that reflected on the BVL Stock Exchange floor. In cases where the trading value differs between the Stock Exchange floor and the Simulator, the value shown in the Simulator will prevail.

1.11. Trading amounts will be expressed in the Simulator in up to 4 decimal places. If values in other decimal places are reflected in the Stock Exchange, for the purposes of the Contest, the provisions of the Simulator will prevail.

1.12. BURSEN may at any time during the simulator modify any of the provisions indicated in the Regulations, which will be previously informed to the Participants, as regulated in this document.

1.13. During the Session, the Participant must make decisions individually and without the intervention of third parties.

2.1. ABOUT PROHIBITIONS A THE PARTICIPANTS

a. Participants are prohibited from sharing and/or transferring their username and password to another participant.

b. Participants are prohibited from inviting others to unauthorized private groups on social media. BURSEN is not responsible for the content or information obtained in such spaces.

2.2. ABOUT THE OPERATIONS PERFORMED IN THE SIMULATOR

a. Only buy and sell transactions of securities may be carried out in the Simulator. For the purposes of the Contest, no other form of acquisition or liquidation of securities will be permitted.

b. It will not be possible to buy and sell shares of the same company on the same day they are acquired.

c. The minimum amount for each transaction will be S/ 5,000.00, (Five thousand and 00/100 Soles) regardless of the number of shares involved.

d. There will be no maximum amount per transaction, provided that the Participants' available funds allow it.

e. No participant may sell a quantity of securities greater than the amount they hold in their portfolio.

f. Shares acquired as a result of a purchase will be automatically added to the participant's portfolio.

g. The money resulting from a sale made in a session will be considered as available at the same time that the transaction is carried out.

h. The prices used for buying and/or selling securities will be the same as the quotes for the corresponding trading session. In case of any discrepancy, the prices shown in the Simulator will prevail. Prices in the Simulator are updated in real time (with a delay of up to 5 minutes).

i. If at the time of carrying out a transaction the value has not had a (last) quote in the corresponding Trading Session on the Lima Stock Exchange, the Simulator system will use the price shown as previous to carry out the transaction.

2.3. ABOUT MONEY LOANS IN SIMULATION

a. Money will be lent to participants at a fixed interest rate of 0.5% daily.

b. The maximum loan amount per participant will be S/ 100,000.00 (one hundred thousand and 00/100 Soles) and the minimum amount will be S/ 5,000.00 (five thousand and 00/100 Soles).

c. The acquisition of a loan will be reflected in an increase of the same amount in each participant's Available Cash account.

d. Participants may borrow money as many times as they deem necessary, provided they do not exceed the maximum loan amount allowed.

e. Each loan will have a specific term according to the date it was requested, and the interest will be calculated according to the duration of the loan.

f. The loan plus interest will be deducted from the beginning of the loan in the valuation of the participant's portfolio.

g. Participants may pay off their loans in full at any time they wish while the contest is in effect.

2.4. ON PORTFOLIO VALUATION

a. The valuation of Participants' investment portfolios will be performed in real time, considering, for each security, the quoted price on the BVL Stock Exchange at the time of valuation (with a delay of up to 20 minutes). In the event of a different quote, the one indicated by the

b. Securities whose price is expressed in US dollars will be recorded in the participant's portfolio in Soles, for which the corresponding conversion will be made using the exchange rate of the day used by the BVL and published on its website.

c. Loans and their respective interest will be reflected in the valuation of the investment portfolio with a negative account discounting the total level of the portfolio.

d. The total valuation of the portfolio will consist of the portfolio values according to market prices plus available cash (this will consider the loans requested) less the loans requested including the interest that the participant will have to pay.

3.1. The ranking will display the order of participants according to the profitability of their respective investment portfolios. The ranking will be available in the Stock Market Simulator and will be updated every 15 minutes according to changes in the valuation of participants' portfolios.

3.2. In the event of a tie in profitability, the participant with the fewest transactions during the event will be considered.

3.3. Profitability will be calculated by dividing the portfolio valuation by the initial cash given to each participant (considering the commissions charged on each transaction made by the participant).

3.4. The system will automatically remove from the final total ranking all those people who did not participate in the Rueda simulation.

4.1. BURSEN will resolve with an unappealable decision the issues that arise during the simulator regarding the complaints received and/or the validity of the operations, being empowered to cancel the operations carried out during the trading hours contravening the provisions of the Regulation and to disqualify the participants who are involved in this case.

4.2. The disqualification will be notified to the Participant via the email address provided on the Registration Form. Given the duration of the Contest, the Participant will have one calendar day to submit their defense to BURSEN, starting from the day after notification. After the defense is submitted, BURSEN will issue its decision and notify the Participant of this decision no later than the day after receiving the defense. BURSEN's decision will be final and cannot be appealed.

4.3. Participants will be disqualified for the following reasons:

i. Failure to comply with the obligations and carry out the prohibitions indicated herein

ii. Carry out activities or operations not authorized or prohibited by the

iii. To perform any act, omission, practice or conduct that undermines the integrity or transparency of the Contest

iv. Engaging in any practice that is considered an unfair competition practice, fraud, or any other deceptive practice.

v. To engage in inappropriate or disrespectful conduct during the

4.4. The disqualification of any Participant for any of the reasons stated above will not entitle them to a refund of payments made. However, if the Participant is part of a group, the disqualification will apply to the entire team.

5.1. BURSEN may eliminate operations when any transaction in the real market is cancelled by the Markets Directorate and has generated distortion in the prices of the Trading Wheel

5.2. In the event of situations not foreseen in the regulations, BURSEN will decide with an unappealable ruling, applying in a supplementary manner the provisions of the securities market, regulated in the Securities Market Law, the Regulation of Operations on the Stock Exchange and other applicable provisions.

5.3. All information presented in the Regulations is for informational purposes only and is applicable exclusively to the development of the simulation with the purpose of familiarizing the public and Participants with the stock market; therefore, the information contained herein does not replace, modify, or can be taken as a basis for interpreting the corresponding legal or regulatory norms or provisions on the stock market and the Trading Floor. For a complete understanding of the topics described here, these norms or provisions should be consulted.

5.4. BURSEN and the University of Piura are not responsible for any decision or operation carried out based on the information contained in the Regulations that the participants adopt inside or outside the

5.5. BURSEN may change the rules and regulations at any time during the Contest at its sole discretion. All modifications will be notified to the email address provided by the Participant during registration. Updates made by BURSEN will take effect two calendar days after notification to the Participant.

For a better understanding of the stock market and the Stock Exchange Trading Simulator, we have prepared a summary table of the rules of this event and compared them with the Lima Stock Exchange's Operating Regulations as follows: