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IN THE UNITED STATES DISTRICT COURT

FOR THE DISTRICT OF COLUMBIA

GRAMERCY FUNDS MGMT. LLC, and )

GRAMERCY PERU HOLDINGS LLC, )

)

Petitioners, )

) Case No. 23-CV-00684 (ABJ)

v. )

THE REPUBLIC OF PERU, )

)

Respondent. )

)

JOINT STIPULATION AND PROPOSED ORDER

WHEREAS, this proceeding concerns the recognition and confirmation of an arbitral award (“Award”) issued on December 6, 2022, and corrected on January 13, 2023, by an arbitral tribunal in a dispute between Petitioners Gramercy Funds Management LLC and Gramercy Peru Holdings LLC (together, “Gramercy”) and Respondent Republic of Peru (“Peru,” and together with Gramercy, the “Parties");

WHEREAS, Gramercy commenced this proceeding through its filing of the Corrected Petition to Recognize and Confirm the Arbitral Award on March 15, 2023 (the “Petition”) (Dkt. 4);

WHEREAS, this Court issued a Summons in a Civil Action (“Summons") directed to Peru on March 17, 2023 (Dkt. 6);

WHEREAS, Gramercy filed a motion for the issuance of a letter rogatory on April 28, 2023 (Dkt. 7), which this Court granted on May 11, 2023 (Dkt. 8);

WHEREAS, the Parties wish to pursue good faith discussions towards the resolution of the present action through a temporary stay of proceedings (“Stay”);

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IT IS HEREBY STIPULATED AND AGREED by the Parties and ORDERED by the Court as follows:

1. Service on Peru of the Summons and Petition has been validly made and shall be deemed to have been made upon entry of this Stipulation and Order.
2. All proceedings in this Court are stayed.
3. Either Party may at any time file a motion to lift this Stay and resume proceedings, which the other Party agrees not to oppose.
4. Peru shall respond to the Petition in this action on the 61st day following the lifting of this Stay.
5. The Parties will submit a joint status report to the Court by October 6, 2023.
6. Nothing contained herein shall be construed as a waiver of immunity, jurisdiction or any other defenses by Peru other than any defense or objection based on service of process. Peru reserves all such other rights and defenses and waives none.

Dated: September 8, 2023

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Of Counsel:

Ina C. Popova

Sarah Lee

Beatrice A. Walton

Debevoise & Plimpton LLP

66 Hudson Boulevard

New York, NY 10001

Phone: (212) 909-6000

[email protected]

[email protected]

[email protected]

Attorneys for Petitioners Gramercy

Funds Management LLC and

Gramercy Peru Holdings LLC

SO ORDERED:

Dated: _______________, 2023

____________________________________

Hon. Amy Berman Jackson