We assisted in the issuance of trust securities under “Fideicomiso Financiero AySA II” Financial Trust

Bruchou & Funes de Rioja assisted as legal advisors in the recent issuance and placement in Argentina of trust securities for $70,000,000,000 by the “Fideicomiso Financiero AySA II” Financial Trust, under the Program of Financial Trusts “SECUVAL III” for an amount of up to US$ 100,000,000 (or its equivalent in other currency or value unit).

FIX SCR S.A. rated the Trust Securities as “AA+sf(arg)”.

Agua y Saneamientos Argentinos S.A., a drinking water and sewage services provider, acted as trustor and administrative agent; Banco de Valores S.A. acted as trustee, issuer, placement agent and co-structurer; and Balanz Capital Valores S.A.U. acted as arranger, co-structurer and placement agent.

The Argentine Exchange Commission (Comisión Nacional de Valores) authorized the public offering of the securities on June 26, 2026, and the securities were issued on July 3, 2026.

Bruchou & Funes de Rioja acted as legal advisor to the transaction through a team led by partner Alejandro Perelsztein and associates Ramón Augusto Poliche, Victoria Negro and Micaela Zárate.

AySA was advised by its in-house legal team led by Gala Barbieri and Alejandro Luzuriaga.