Ecuador

Dentons Paz Horowitz is pleased to announce that Carmen Crespo has joined the firm as a Partner in its Tax practice. With over a decade of experience in tax law, Carmen brings a deep understanding of cross-border taxation, international transactions, and corporate tax planning. Carmen advises multinational corporations, private equity funds, and high-net-worth individuals on a broad range of tax matters, including mergers and acquisitions, restructurings, investment strategies, and U.S. tax compliance. Her experience extends to navigating complex treaty applications and advising clients in multiple jurisdictions. Prior to joining Dentons, Carmen spent 5 years as a Manager in the Transaction Tax Advisory practice at Ernst & Young LLP in the United States, Followed by over a year and a half as part of the EY US Desk in Munich, Germany. During her time at EY, she led major due diligence and structuring projects, supported IPO-related tax planning, and advised on significant divestitures involving over 28 jurisdictions. In Ecuador, Carmen began her career at a boutique law firm, where she represented clients in commercial, tax, and administrative litigation, including proceedings involving the Ecuadorian government. Carmen holds an LL.M. in Taxation from Georgetown University Law Center, where she graduated with distinction, and a Master of Laws with a specialization in Tax Law from Universidad Andina Simón Bolívar. She is admitted to practice in Ecuador, New York, and Washington, D.C. Reflecting on her new role, Carmen said: “After several years advising clients on international tax strategies across multiple jurisdictions, joining Dentons represents an exciting opportunity to offer world-class service to clients in Ecuador and beyond. I look forward to contributing to the firm’s continued growth and excellence.” Carmen joins a dynamic team at Dentons Paz Horowitz, which provides integrated legal services across more than 20 practice areas and industries throughout Latin America and globally. As part of Dentons, the world’s largest law firm with more than 21,000 professionals in over 200 locations across 80+ countries, Dentons Paz Horowitz continues to strengthen its position as a leading legal advisor in the region.

BUSTAMANTE FABARA is proud to announce the promotion of Gustavo Almeida and Bruno Pesantes to the position of Directors, effective from April 1, 2025. This strategic move reflects our continued commitment to excellence and further strengthens our leadership in the areas of Environment, Energy & Natural Resources. As we evolve to meet the complex and ever-changing needs of our clients, this milestone reaffirms BUSTAMANTE FABARA’s mission to provide innovative and high-impact legal solutions. The promotion of these outstanding professionals enhances our ability to deliver world-class legal services across Ecuador and beyond. About Gustavo Almeida Gustavo Almeida, now Director at BUSTAMANTE FABARA, advises local and international companies in energy regulation, oil & gas, mining, environmental law, and infrastructure. He brings a deep understanding of energy project structuring, having led regulatory approvals for generation, self-generation, and distributed generation initiatives. Gustavo has successfully negotiated concession contracts, PPAs, and infrastructure agreements. With extensive in-house experience at Ecuador’s largest oil and gas company, Gustavo offers valuable insight into production sharing and service contracts, integrated services with financing, and regulatory matters. His mining practice includes legal support on enabling titles, royalty agreements, compliance, and due diligence. Gustavo’s environmental law practice includes performing due diligence, obtaining environmental permits, challenging sanctions, and advising on environmental compliance across sectors. He has also advised on landmark transactions with a significant environmental component. Beyond his legal practice, Gustavo is the founding president of the Ecuadorian Institute of Energy and Natural Resources Law (IEDERN), a former adjunct professor of Administrative Law, and a recognized thought leader in his field. He has been ranked as a Leading Associate in Energy and Natural Resources by The Legal 500 About Bruno Pesantes Bruno Pesantes, also appointed as Director, advises national and international clients. His practice is primarily focused on energy and natural resources, with a special emphasis on regulatory law in mining, oil & gas, as well as environmental and corporate law. He has extensive experience in the oil & gas industry, particularly in regulatory, strategic, environmental, and operational matters. He actively participates in major contract negotiations with the State and the National Oil Company. In the mining sector, Bruno supports clients in obtaining government authorizations and provides counsel on regulatory, environmental, and project structuring matters. He also has vast experience in complex transactions and acquisitions of mining projects, as well as negotiations with the State for the signing of strategic agreements and in international disputes. In environmental law, Bruno advises companies from various sectors on regulatory compliance, environmental permitting, audits, and due diligence. He has worked on high-impact projects, helping to mitigate environmental risks, manage community conflicts, and implement new regulations to ensure legal compliance in business operations.Furthermore, Bruno is a founding member and first vice president of the Ecuadorian Institute of Energy and Natural Resources Law (IEDERN). These appointments reflect BUSTAMANTE FABARA’s focus on professional development, strategic growth, and delivering exceptional legal counsel in highly specialized and regulated sectors. For media inquiries, please contact: María José Sotomayor Marketing and Communications Director BUSTAMANTE FABARA Email: [email protected]

In a significant step forward for the Loja-Catamayo Road Corridor in Ecuador, Dentons will support the Canadian Commercial Corporation (CCC) in structuring this project under a Public-Private Partnership (PPP) model. This initiative aims to enhance connectivity in southern Ecuador and drive economic growth in the region. Dentons' infrastructure team in Canada, led by Ilan Dunsky, along with the Ecuador infrastructure team, led by Gabriel Solís, will be involved in the legal and transactional structuring, as well as local coordination and alignment with the country’s legal and regulatory frameworks. Our partner, Gabriel Solís, supported by Dentons Paz Horowitz Managing Partner, Agustín Acosta Cárdenas, and Founding Partner Jorge Paz, has played a crucial role in navigating the complexities of the local legal environment, ensuring the project’s seamless execution and integration with Ecuador’s broader infrastructure objectives. “We are thrilled to be part of this transformative project and to contribute to the creation of a safer and more efficient transportation corridor for the people of Loja province and the productive sectors of southern Ecuador,” said Gabriel Solís. The significance of this project goes beyond improving road infrastructure. Enhanced connectivity will facilitate better access to Catamayo Airport, a critical hub for travel in southern Ecuador. This is expected to spur economic growth, strengthen integration with the rest of the country, and create new opportunities for local communities. The signing of the Government-to-Government (G2G) contract marks a critical step in the realization of this infrastructure project. The agreement between CCC and Ecuador’s Secretariat for Public-Private Investments brings Canadian expertise in legal and transactional structuring to support Ecuador’s vision of modernizing its road infrastructure. The joint efforts of Dentons Canada and Dentons Paz Horowitz in Ecuador highlight the firm’s commitment to fostering international collaboration. For more information, please contact [email protected].

Quito, Ecuador – April 24, 2025 – On April 20, 2025, Lumina and CMOC Group Ltd (CMOC) entered into an Arrangement Agreement under which CMOC will acquire all of the issued and outstanding common shares of Lumina Gold Corp., in a transaction valued at approximately USD $427 million, payable in all cash. Through this acquisition, CMOC adds the Cangrejos Project to its portfolio. The project is located in El Oro Province, in southwestern Ecuador, and is considered the largest primary gold deposit in the country, it is currently in the exploration stage, and is expected to enter the exploitation phase in Q4 2025. It has a signed binding term sheet of the Exploitation Contract with the Government of Ecuador. BUSTAMANTE FABARA acted as local legal counsel to CMOC, leading the legal and social due diligence of the project, as well as advising on its regulatory and environmental status of the mining project. The transaction was led by partner Rafael Valdivieso and director Bruno Pesantes. This transaction marks a milestone for the development of Ecuador’s mining sector, standing out as one of the most significant deals in the industry in recent years due to its size, impact, and strategic relevance. About BUSTAMANTE FABARA BUSTAMANTE FABARA is one of Ecuador’s leading law firms, with a strong track record advising on complex financial transactions, environmental initiatives, and international projects. With over 120 lawyers and 190 total team members, the firm continues to lead the shaping of Ecuador’s legal landscape. About CMOC CMOC (CMOC Group Ltd.) is one of the world’s leading mining companies, with diversified operations in copper, cobalt, molybdenum, tungsten, niobium, and phosphates. With a presence in Asia, Africa, and the Americas, CMOC is known for its focus on sustainability, technological innovation, and responsible resource development. About Lumina Gold Corp. Lumina is a Canadian company focused on the exploration and development of gold projects in Ecuador. Its flagship asset, the Cangrejos Project, has been identified as one of the largest and most advanced gold deposits in Ecuador, with significant large-scale development potential. Press contact: María José Sotomayor Hidalgo Director of Marketing and Comunicaciones BUSTAMANTE FABARA Email: [email protected] Phone: 0989728788 Bruno Pesante   Rafael Valdivieso