Core Viewpoint - The announcement by the company regarding the decision of the Supreme Court of Panama to declare Law No. 5 of January 16, 1997 unconstitutional, which affects the operations of its subsidiary, Panama Ports Company (PPC) [1] Group 1: Legal Developments - The Supreme Court of Panama announced on January 29, 2026, that Law No. 5 of January 16, 1997, and its amendments are unconstitutional [1] - This law has allowed PPC to operate under a concession agreement at Balboa and Cristobal ports for nearly 30 years [1] - The decision by the Supreme Court is expected to take effect in early February 2026 [1] Group 2: Company Response - PPC has received legal opinions indicating that the Supreme Court's decision and the actions taken by the Panamanian government regarding PPC's operations are inconsistent with the legal framework [1] - On February 3, 2026, PPC initiated arbitration against the Republic of Panama under applicable concession agreements and the arbitration rules of the International Chamber of Commerce [1] - The company's board strongly opposes the ruling and actions taken by Panama, and it continues to consult legal advisors while reserving all rights, including pursuing further domestic and international legal proceedings [1]