During the asexual blood stage, processes key proteins essential for merozoite egress and invasion of host erythrocytes (PubMed:29074775, PubMed:32109369). Cleaves and activates proteases SUB1 and SUB2 (PubMed:29074775, PubMed:32109369). May process members of the EBL and Rh protein families (PubMed:32109369). Also cleaves apical membrane protein AMA1 (PubMed:29074775). During the mosquito vector stage and probably in ookinetes, cleaves CelTOS (PubMed:29074775). Inhibited by small molecule 49c (PubMed:29074775). Inhibited by small molecules WM382, WM4, and WM5 (PubMed:32109369). In schizonts, localizes to exonemes which are secretory vesicles that discharge their content during egress into the parasitophorous vacuole. Autocleaved into a p16 prodomain form and two mature forms p44 and p51. Belongs to the peptidase A1 family.