CAF - Sustainability Report 2025

Report 2025 SustainabilitySustainability Report 2025 This document has been published under the Executive Presidency of Sergio Díaz-Granados Guida and the Corporate Vice Presidency of Strategic Programming of Christian Asinelli.

RIF: G200015470

Editorial coordination Directorate of Green Operations and Financing Climate Action and Positive Biodiversity Management Editorial management Directorate of Strategic Communication Editorial design Good, creativity for development Photographs CAF and iStock © CAF 2026 This and other digital publications are available at scioteca.caf.com Open access under the Creative Commons license Attribution-NonCommercial-NoDerivatives 4.0 International (CC-BY -NC-ND 4.0). T o view a copy of this license, visit https:/ /creativecommons.org/licenses/ Report 2025 SustainabilityContents Introduction and institutional context 04 Message from the Executive President 05 Regional Context, and Development Challenges 07 Key Results 08 Methodological Note 13 CAF Profile 14 Strategy, materiality, and contribution to the sdgs 18 Materiality Analysis 19 Institutional Strategy 21 Link to the SDGs and 2025 Results 24 Stakeholder Engagement 27 Strategic Alliances and Resource Mobilization 30

Mission impact: Green banking and climate action

37 Greener Operations 38 Institutional Strengthening 41 Physical and Digital Infrastructure 42 Just Energy T ransition 46 Climate-Resilient T erritories 48 Biodiversity and Ecosystem Services 53

Mission impact: Inclusive development and social cohesion

61 Inclusive Social Well-Being 62 Gender, Inclusion, and Diversity 67 Culture and Sports 70

Mission impact: Productivity, competitiveness, and regional integration

73 Productivity and Internationalization 74 Regional Integration 82 Governance, ethics, and transparency 84 Corporate Governance 85 Institutional T ransparency and Access to Information 89 Internal Control 92 Ethics, Compliance, and Risk Management 96 Prevention of Prohibited Practices, Money

Conflict of Interest Environmental and Social Management Framework Complaint Mechanisms Audit Practices at CAFInstitutional Transparency and Access to Information GRI 3-3 CAF views transparency and access to information as central enablers of its institutional agenda, as they strengthen accountability, the trust of shareholder countries, and relationships with other stakeholders. This management approach is grounded in the Policy on Access to Information and Institutional T ransparency (PAITI), which establishes the principles, criteria, and procedures aimed at ensuring timely, reliable, and consistent access to institutional information. The policy defines, among other aspects, the principle of maximum disclosure, the criteria for classifying information, the procedures for handling access requests, as well as the corresponding deadlines and institutional responsibilities. It also includes review and monitoring mechanisms that promote an organizational culture based on transparency, integrity, and institutional accountability to the public, shareholder countries, and strategic partners. Based on this regulatory framework, in 2024 CAF established the Program for Access to Information and Institutional T ransparency (AITI Program) as an operational tool for the effective implementation of the PAITI. During 2025, its implementation generated positive impacts by: Strengthening the confidence of shareholder countries and other stakeholders. Improving the quality, availability, and timeliness of information on institutional management and operations. Establishing formal accountability mechanisms, supported by bodies and tools that promote dialogue with shareholder countries and the public, and that enable the systematization of information for institutional monitoring. 89 CAF Sustainability Report 2025 Introduction and institutional context Strategy, materiality, and contribution to the SDGS Green banking and climate action Inclusive development and social cohesion Productivity, competitiveness, and regional integration Governance, ethics,

Green banking and climate action Inclusive development and social cohesion Productivity, competitiveness, and regional integration Governance, ethics, and transparency Internal management and organizational performance Risks, opportunities, and future outlook Corporate Governance Institutional Transparency and Access to Information Internal Control Ethics, Compliance, and Risk Management Prevention of Prohibited Practices, Money Laundering, and T errorist Financing Conflict of Interest Environmental and Social Management Framework Complaint Mechanisms Audit Practices at CAFRisk management at CAF Financial and NonFinancial Risk Management Fraud Risk Management Non-financial risks include fraud risks, which are managed by front-line areas as part of the annual risk management cycle, with methodological support from Corporate Risk Management. Within the framework of the Internal Control Program (ICP), whose objective is to provide reasonable assurance regarding the adequate mitigation of inherent risks, annual tests are conducted to review the design and operational effectiveness of the controls implemented to mitigate both fraud risks and the other risks identified by CAF . Market and Liquidity Risk During 2025, significant progress was made in market and liquidity risk management, notably:During the 2025 fiscal year, the reviews conducted by the Internal Control Department and the Corporation’s external auditors did not reveal any deficiencies in the execution of the controls included within the scope of the PCI. Consequently, the reports issued conclude that CAF’s internal control system over financial reporting as of December 31, 2025, is effective, and that there is reasonable assurance regarding the adequate mitigation of the assessed risks. Full implementation of the Bloomberg PORT Enterprise platform, which enabled the digitization of market and liquidity risk management processes, positioning CAF as a benchmark case study for other banking or multilateral institutions in the region. Development and implementation of a new liquidity risk appetite framework and

and future outlook Corporate Governance Institutional Transparency and Access to Information Internal Control Ethics, Compliance, and Risk Management Prevention of Prohibited Practices, Money Laundering, and T errorist Financing Conflict of Interest Environmental and Social Management Framework Complaint Mechanisms Audit Practices at CAFEnvironmental and Social Management Framework GRI 3-3 In early 2025, CAF published the new Environmental and Social Management Framework for Operations (MGAS), through which it reaffirms its commitment to the sustainable development of its shareholder countries. This framework establishes a set of common yet differentiated responsibilities between CAF and its borrowers to ensure the environmental sustainability and social responsibility of the investment programs and projects financed by the institution. The framework is a core instrument for identifying, managing, and mitigating environmental, social, and climate risks across CAF’s operations. The MGAS defines CAF’s commitments regarding human rights; gender equality, non-discrimination, and inclusion; the protection and conservation of biodiversity and natural resources; respect for and protection of ethnic groups and cultural diversity; action on climate change, the strengthening of consultation, outreach, and engagement processes with communities potentially affected by operations, as well as the associated accountability mechanisms. One of the core pillars of the MGAS is the set of Environmental and Social Safeguards (SAS), which establish the requirements that borrowers must meet to ensure comprehensive, adequate, and timely management of the environmental and social risks associated with CAF-financed operations, in order to fulfill the aforementioned commitments. 100 CAF Sustainability Report 2025 Introduction and institutional context Strategy, materiality, and contribution to the SDGS Green banking and climate action Inclusive development and social cohesion Productivity, competitiveness, and regional integration Governance, ethics, and transparency

institutional context Strategy, materiality, and contribution to the SDGS Green banking and climate action Inclusive development and social cohesion Productivity, competitiveness, and regional integration Governance, ethics, and transparency Internal management and organizational performance Risks, opportunities, and future outlook Solvency and Financial Sustainability Human Capital and Organizational Well-Being Environmental Sustainability Digital Transformation and Operational EfficiencyKey Benefits Health coverage and insurance: CAF provides its staff with health plans, as well as life and accident insurance policies, contrib-uting to the comprehensive protection of employees and their families.

Vacation bonus: a bonus equivalent to fifteen days’ pay in the first year of service, increasing by one additional day for each year starting from the second.

Paternity leave: ten consecutive weeks of leave starting from the birth of a child.

Educational subsidy for dependents: a contribution to cover costs associated with the compulsory formal education of dependent children.

Paternity leave: ten weeks of leave in cases of legal recognition of parental authority over a minor in the em-ployee’s care, regardless of biological or adoptive ties.

Seniority benefits: A cumulative benefit equivalent to five days’ pay per month of service, plus two additional days for each year worked, starting from the first year, up to a maximum of 30 additional days.

Variable Incentive: CAF has a variable incentive linked to performance management, designed to recognize employ-ees’ contributions to the achievement of strategic and institutional objectives. The award is determined by the Executive Presidency, based on the achievement of corporate goals

institutional context Strategy, materiality, and contribution to the SDGS Green banking and climate action Inclusive development and social cohesion Productivity, competitiveness, and regional integration Governance, ethics, and transparency Internal management and organizational performance Risks, opportunities, and future outlook Key Risks in CAF’s Operating Environment and Business Model Strategic Opportunities 2026 Plan and Institutional RoadmapStrategic Opportunities CAF continuously identifies strategic opportunities to address development challenges in Latin America and the Caribbean, in line with its role as a development bank and its capacity to generate impact. These opportunities arise from the convergence of the priorities of member countries, global trends in sustainability, and CAF’s institutional capabilities, and are underpinned by enablers consolidated during the 2021–2026 cycle, such as the expansion of the shareholder base to 24 countries, the strengthening of the credit profile, and a portfolio growth trajectory aligned with the goal of doubling by 2030. Strengthening financing for the sustainable transition is a strategic priority, in response to the growing demand for investments in climate action, biodiversity protection, and the reduction of social vulnerabilities. These areas open opportunities to deepen the channeling of resources aligned with international sustainability frameworks. The integration of environmental and social considerations into the design of financial products helps to amplify the impact of operations and strengthen relationships with partners and markets. This positioning is supported by verifiable results. In 2025, 44 % of approvals incorporated green financing, and cumulative green financing exceeded USD 22,000 million, with a projection to surpass USD 25,000 million. Likewise, CAF exceeded its blue economy commitment with USD 1,545 million approved and made progress on water security with USD 3,409 million toward the USD 4,000 million target. These advances are complemented by the strengthening of tools to integrate climate considerations and the progressive implementation of the methodology for alignment with the Paris Agreement.

Green banking and climate action Inclusive development and social cohesion Productivity, competitiveness, and regional integration Governance, ethics, and transparency Internal management and organizational performance Risks, opportunities, and future outlook Greener Operations Institutional Strengthening Physical and Digital Infrastructure Just Energy Transition Climate-Resilient T erritories Biodiversity and Ecosystem ServicesBlue Economy and Ocean Conservation CAF is consolidating its leadership in the blue economy in Latin America and the Caribbean with three key announcements: doubling its financing target to USD 2,500 million for the 2026–2030 period, launching its Blue Economy Strategy, and presenting a regional diagnostic report at UNOC3, along with an impact report highlighting successful cases of marine and coastal conservation and development projects. CAF actively participated in more than 12 international forums to promote this strategy and strengthen regional leadership. CAF issued its first Blue Bond, for EUR 100 million. See the Sustainable Finance in Capital Markets section of this report The results achieved in 2025 demonstrate the strengthening of CAF’s role as a strategic partner for Latin American and Caribbean countries in promoting development that recognizes biodiversity and ecosystem services as fundamental assets for climate resilience, socioeconomic stability, and long-term sustainability. SUST AINABLE BLUE ECONOMY STRA TEGY CAF’s Sustainable Blue Economy Strategy (SBE-CAF) is an ambitious roadmap that seeks to position Latin America and the Caribbean as a leader in the sustainable use of the ocean, recognizing it as a driver of development, climate resilience, and human well-being. In the face of structural challenges such as ecosystem degradation and institutional fragmentation, CAF proposes a transformative vision for 2030, integrating financing, knowledge, and innovation to strengthen coastal communities, protect the oceans, and foster regenerative production chains. 58 CAF Sustainability Report 2025

regional integration Governance, ethics, and transparency Internal management and organizational performance Risks, opportunities, and future outlook Greener Operations Institutional Strengthening Physical and Digital Infrastructure Just Energy Transition Climate-Resilient T erritories Biodiversity and Ecosystem ServicesIn 2025, 20 carbon assessments were conducted for loan operations. T wo representative cases are presented below: Hatillo Aqueduct Water and sanitation Dominican Republic Revolving credit line – Banco Santander Brasil S.A. Electromobility Brazil Replacement of water consumption via water tankers and bottled water —both of which have high emissions—with a piped supply system, primarily gravityfed, with lower GHG emissions. An annual reduction of approximately 91,000 tCO₂e is estimated. Ex-post estimates of emissions reductions resulting from the financing of hybrid and electric vehicles. Estimated reduction of 9,363 tCO₂e in 2024 and 14,090 tCO₂e in 2025. Under the Memorandum of Understanding signed between CAF and the West African Development Bank (BOAD) during COP30, knowledge transfer regarding the use of the tool and the interpretation of its technical note to officials of that institution is planned for the first quarter of 2026. Looking ahead to 2026, carbon assessments are projected to be conducted for 30 loan operations, including most of the Investment Programs and Projects (PPI) in the portfolio, marking the start of its systematic application across the Bank’s portfolio. 60 CAF Sustainability Report 2025 Introduction and institutional context Strategy, materiality, and contribution to the SDGS Green banking and climate action Inclusive development and social cohesion Productivity, competitiveness, and regional integration Governance, ethics, and transparency Internal management and organizational

integration 73 Productivity and Internationalization 74 Regional Integration 82 Governance, ethics, and transparency 84 Corporate Governance 85 Institutional T ransparency and Access to Information 89 Internal Control 92 Ethics, Compliance, and Risk Management 96 Prevention of Prohibited Practices, Money Laundering, and T errorist Financing 98 Conflict of Interest 99 Environmental and Social Management Framework 100 Complaint Mechanisms 106 Audit Practices at CAF 108 Internal management and organizational performance 110 Solvency and Financial Sustainability 111 Human Capital and Organizational Well-Being 114 Environmental Sustainability 126 Digital T ransformation and Operational Efficiency 136 Risks, opportunities, and future outlook 137 Key Risks in CAF’s Operating Environment and Business Model 138 Strategic Opportunities 140 2026 Plan and Institutional Roadmap 141 GRI T able 143 3 CAF Sustainability Report 2025 Introduction and institutional context Strategy, materiality, and contribution to the SDGS Green banking and climate action Inclusive development and social cohesion Productivity, competitiveness, and regional integration Governance, ethics, and transparency Internal management and organizational performance Risks, opportunities, and future outlookIntroduction and institutional context 4 CAF Sustainability Report 2025 Introduction and institutional context Strategy, materiality, and contribution to the SDGs Green banking and climate action Inclusive development and social cohesion Productivity, competitiveness, and regional integration Governance, ethics, and transparency Internal management and organizational performance Risks, opportunities, and future outlook Letter from the CEO Regional Context, and Development Challenges Key Results Methodological Note CAF ProfileMessage from the Executive President GRI 2-22 The consolidation of CAF as the green and blue bank of Latin America and the Caribbean is not only a strategic definition, but also a tangible expression of our commitment to the

Regional Context, and Development Challenges Key Results Methodological Note CAF ProfileMessage from the Executive President GRI 2-22 The consolidation of CAF as the green and blue bank of Latin America and the Caribbean is not only a strategic definition, but also a tangible expression of our commitment to the region’s structural challenges. In an international context marked by fragmentation, uncertainty, and the need for new collective responses, Latin America and the Caribbean possesses strategic assets, natural capital, energy resources, and productive capacity that position the region as an essential part of global solutions. Our responsibility as a development finance institution is to support our shareholder countries in transforming this potential into sustainable growth, social inclusion, and regional integration. In 2025, we reaffirmed our institutional roadmap and strengthened our capacity to generate impact through meaningful results across our mission-driven and cross-cutting agendas. We reached USD 18,668 million, in loan approvals, representing a 33 % increase compared to 2024. These resources contributed to advancing strategic priorities such as the energy transition, territorial resilience, productivity enhancement, social inclusion, and ecosystem protection, expanding the institution’s ability to respond to the needs of its member countries while promoting more effective regional integration. This performance was supported by strong financial management, reflected in a record USD 8,262 million in bond issuances across international capital markets. The improvement in our credit ratings reflects investor confidence, the strength of our corporate governance, and the consistency of a results-oriented management approach. In particular, Standard & Poor’s upgraded CAF’s rating to AA+, while Moody’s and Fitch revised their outlooks to positive, reaffirming their Aa3 and AAratings, respectively. In line with our institutional strategy through 2026, we further consolidated our position as the green and blue bank of the region. Forty-four percent of the year’s approvals were allocated to green financing, continuing a demonstrable trajectory: our goal of reaching 40 % by 2026 was achieved

In line with our institutional strategy through 2026, we further consolidated our position as the green and blue bank of the region. Forty-four percent of the year’s approvals were allocated to green financing, continuing a demonstrable trajectory: our goal of reaching 40 % by 2026 was achieved ahead of schedule when we reached 41 % in 2024, allowing us to raise our ambition to a new target of 50 % by 2030. During COP30 in Belém, CAF committed to allocating USD 40,000 million over the next five years to advance regional green growth. This decision reaffirms our contribution to climate action and the protection of strategic ecosystems, while also reflecting a deeper understanding of the differentiated ways in which the climate crisis affects our region. Sustainable development requires advancing with the same determination in inclusion and human capital. For this reason, we launched Banco Futuro as a strategic initiative, backed by a baseline investment of at least USD 5,000 million in education and early childhood development, with the objective of reaching nearly 50 million children and adolescents. This effort is supported by an institutional transformation that enabled 67 % of our sovereign operations to incorporate gender, inclusion, and diversity components, compared to 48 % in 2024. We also continued strengthening the productivity and internationalization agenda through expanded financing for SMEs, the development of the venture capital ecosystem, and the promotion of sustainable investments in collaboration with financial partners. In 2025, 32 % of total approvals were allocated to this agenda, reflecting the importance of fostering a more productive, competitive, and internationally connected region, integrated into sustainable investment and trade flows. The growth of our impact has been accompanied by unprecedented institutional strengthening. Supported by a historic USD 7 ,000 million capitalization initiated in 2022 and the consolidation of our AA+ rating, CAF now has solid 5 CAF Sustainability Report 2025 Introduction and institutional context Strategy, materiality, and contribution to the SDGS Green banking and climate action Inclusive development

Complaint Mechanisms Audit Practices at CAFGRI 2-25, 2-26 Environmental and Social Grievance Mechanism (ESGM) CAF has an accountability mechanism known as the Environmental and Social Grievance Mechanism (ESGM). This mechanism serves as an alternative dispute resolution mechanism and a timely, direct channel of communication, made available to the public and stakeholders to address concerns or grievances related to potential adverse environmental and social impacts associated with operations financed by CAF . The ESGM guarantees access and service without discrimination based on age, sex, gender, sexual orientation, beliefs, disability, or ethnicity. It also ensures linguistically and culturally appropriate service, recognizing the specific characteristics of the individuals and communities involved in each case. In 2025, CAF made significant progress in strengthening the ESGM: The Guide for the Design and Implementation of Complaint and Grievance Handling Mechanisms (CGHM) was published, aimed at standardizing complaint management at the project level and strengthening the capacity of implementing agencies to address them in a timely and transparent manner. An internal awareness-raising process was implemented to strengthen operational teams’ understanding of the CGHM guidelines, promoting their proper application and consistent guidance for beneficiaries. A training program was conducted for approximately 100 staff members with operational responsibilities, strengthening their technical capacities in the design and implementation of CGHMs.

The following were developed: (i) the guide for drafting the Protocol for the Responsible Referral of Complaints Related to Gender-Based Violence (GBV) within the CGHMs, and (ii) the Protocol for the Referral of GBV Cases for the ESGM.

These instruments guide safe, ethical, and person-centered responses and establish guidelines for coordination with specialized services. 106 CAF Sustainability Report 2025 Introduction and institutional context Strategy, materiality, and contribution to the SDGS Green banking and climate action Inclusive development and social cohesion Productivity, competitiveness, and regional integration

resources to close social gaps, strengthen infrastructure, and move toward more sustainable and inclusive production models. In this context, scaling up investment and improving the quality of public spending are crucial for sustaining growth and strengthening competitiveness. From a social perspective, persistent inequalities continued to be one of the main challenges to regional development. Large segments of the population remain exposed to conditions of informality, unequal access to basic services, and limited opportunities for social mobility, with more pronounced impacts in rural areas, peri-urban zones, and vulnerable communities. In this regard, strengthening social cohesion and equitable access to essential services remains a central component for advancing toward more inclusive development. Climate change and environmental degradation have emerged as cross-cutting factors that amplify existing risks. The increased frequency and intensity of extreme weather events affect water security, agricultural production, critical infrastructure, and livelihoods, reinforcing the need to integrate climate resilience, sustainable natural resource management, and environmental risk reduction into development strategies. At the same time, the region possesses comparative advantages linked to its natural capital and renewable energy potential, positioning it as a key player in the global solution, provided that investments and enabling frameworks for a sustainable transition are accelerated. Likewise, significant gaps persist in physical, social, and digital infrastructure, limiting competitiveness, territorial cohesion, and regional integration. Constraints in transportation, energy, water, sanitation, and digital connectivity continue to limit countries’ ability to respond to development challenges, reinforcing the need to prioritize resilient, low-carbon infrastructure, including nature-based solutions. In this context, the development challenges in Latin America and the Caribbean highlight the importance of promoting comprehensive approaches that integrate economic growth, social inclusion, and environmental sustainability, as well as strengthening regional cooperation and mobilizing financing for sustainable development. As a green bank committed to sustainable and inclusive growth, CAF focuses its efforts on accelerating investments in resilient infrastructure, energy transition, water security, productivity, and inclusion. It combines financing, technical cooperation, and knowledge

14 countries Productivity and Internationalization Strengthening productivity and competitiveness by expanding financing for SMEs, developing the venture capital ecosystem, and promoting sustainable investments in coordination with financial partners. USD 2,426 million 8 countries Resilient T erritories Strengthening territorial resilience through investments in water security, urban systems, sustainable mobility, waste management, and the development of local economies under a sustainable approach. USD 3,143 million 10 countries Just Energy T ransition Promoting the energy transition through the expansion of renewable energy and the strengthening of transmission, distribution, and storage systems, contributing to the decarbonization of the electricity sector and production chains. USD 1,728 million 5 countries Digital Infrastructure Expanding connectivity and regional integration through investments in transportation, logistics, energy, and digital infrastructure, including emerging technologies for productive transformation. USD 1,063 million 7 countries USD 1,040 million 6 countries Inclusive Social Welfare Resilience, Strategic Ecosystems, and the Agricultural Sector Reducing disparities and strengthening human development through investments in health, nutrition, early childhood, education, 21st-century skills, and gender and inclusion policies. Protecting biodiversity and strengthening climate resilience through an ecosystem-based approach, alongside the promotion of sustainable and regenerative agricultural production systems. 9 CAF Sustainability Report 2025 Introduction and institutional context Strategy, materiality, and contribution to the SDGs Green banking and climate action Inclusive development and social cohesion Productivity, competitiveness, and regional integration Governance, ethics, and transparency

Ratings. These results reflect the strength of its financial profile and the confidence of international markets, while expanding its ability to access financing on competitive terms. Likewise, the institution continued to strengthen its regional character by expanding its shareholder base, with the addition of Grenada and Antigua and Barbuda as new shareholders, which helps broaden its reach and capacity for action in the region. In the area of financial instruments and innovation, CAF made progress in diversifying its funding sources and mechanisms. T able 1.3 CAF Credit Ratings, December 2025 M o o d ys Investors Service

Rating: Aa3

Outlook: Positive

Standard & Poor’s

Rating: AA+

Outlook: Stable

Japan Credit Rating Agency

Rating: AA+

Outlook: Stable

Fitch Ratings

Rating: AAOutlook: Positive Key