Summary

Panama Ports Company S.A. (PPC) takes note of the statement issued this evening by the Judicial Branch of the Republic of Panama stating that the Supreme Court of Justice has decided to declare Law No. 5 of 16 January 1997 unconstitutional, among other relevant laws. While PPC has not yet been notified of such decision, the decision is inconsistent with the relevant legal framework and the law that approved the contract which has been the basis for PPC's operations at the ports of Balboa and Cristóbal for nearly three decades, based on the referenced statement and assessment by counsel of the referenced proceedings.