Credicorp Global SMID Equity Engagement Commentary

This document is an engagement commentary focused on Credicorp's Global SMID Equity Engagement for Q4 2025. It outlines the recent name change of the fund to Federated Hermes Global SMID Equity Engagement and emphasizes the importance of small and mid-cap companies in achieving sustainability improvements. The commentary details Credicorp's sustainability strategy for 2025-2030, which includes four pillars: inclusion, finance for the future, trust, and country vision. It describes the group's role in financial inclusion and economic development in Peru, highlighting its subsidiaries and their impact on approximately 19 million clients. The document also discusses the theory of change regarding financial inclusion in Peru, the development of the Yape super-app, and the microfinance initiatives through Mibanco, particularly aimed at supporting female entrepreneurs. Furthermore, it addresses ongoing engagement efforts related to customer protection, digital inclusion, and climate risk management, concluding with the progress made by Credicorp in transforming into a digitally enabled financial inclusion platform.