On the Approval of Securities Valuation Acts Held by Fiduciary Administrators CF BV Fiduciar Invest SA and Compania Fiduciara a Feroviarilor SA

REPUBLIC OF MOLDOVA
NATIONAL FINANCIAL MARKET COMMISSION
77 Stefan cel Mare si Sfant Blvd., Chisinau, MD 2012, tel: (373 22) 859 401, www.cnpf.md, e-mail: office@cnpf.md DECISION December 30, 2025 No. 62/3 On the Approval of Securities Valuation Acts Held by Fiduciary Administrators CF "BV Fiduciar Invest" SA and "Compania Fiduciara a Feroviarilor" SA

On December 15, 2025, the fiduciary administrators CF "BV Fiduciar Invest" SA and "Compania Fiduciara a Feroviarilor" SA submitted applications No. 52 and No. 27, respectively, dated December 15, 2025 (registered with the National Financial Market Commission (CNPF) under No. 10080 and No. 10081, respectively), pertaining to the valuation acts of client assets (held in closed joint-stock companies) under fiduciary administration (approved at the liquidation committee meeting on December 15, 2025).

Thus, pursuant to Article 1 paragraphs (3) and (4) and Article 1461 of Law No. 171/2012 on the Capital Market (Law No. 171/2012), Article 8 letter b), Article 18 paragraph (3), Article 20 paragraph (1), Article 22 paragraphs (3) and (6), and Article 25 paragraph (2) of Law No. 192/1998 on the National Financial Market Commission, point 8 subpoint 2), point 25, and point 27 of the Regulation on the Procedure for Termination of Fiduciary Investment Administration Activities (CNPF Decision No. 40/4/2018), and points 16 and 19 of the Regulation on the Organization and Functioning of the National Financial Market Commission (CNPF Decision No. 57/11/2022),

The National Financial Market Commission DECIDES:

1. The valuation acts of the securities held by the fiduciary administrators CF "BV Fiduciar Invest" SA and "Compania Fiduciara a Feroviarilor" SA are approved, which are to be offered for sale in the manner established by Article 1461 paragraph (2) of Law No. 171/2012, according to the Annex.

2. The Moldova Stock Exchange SA is permitted not to reflect in open positions the list of securities (closed joint-stock companies) offered for sale as single packages at auction, according to the Annex.

3. In the event of exercising the rights provided for in Article 1461 paragraph (3) of Law No. 171/2012, the president of the liquidation committees of the fiduciary administrators CF "BV Fiduciar Invest" SA and "Compania Fiduciara a Feroviarilor" SA shall inform the CNPF within a period of up to 3 working days from the date of submission of the redemption or sale application.

4. This Decision may be contested by submitting a preliminary application to the CNPF (MD-2012, Chisinau, 77 Stefan cel Mare si Sfant Blvd.) within 30 days from the date of notification.

5. This Decision enters into force on the date of adoption, is communicated to recipients in accordance with legislation, and is published on the official website of the CNPF (www.cnpf.md).

Adrian GHEORGHIȚĂ,
VICE-PRESIDENT

1
Annex
to CNPF Decision
No. 62/3 of 30.12.2025
List of Securities of Joint-Stock Companies (Closed Type) Offered for Sale in Auctions (With Bidding) Organized within the MTF, pursuant to Article 1461 paragraph (2) of Law No. 171/2012

No.
Name of the JSC
Address of the JSC
IDNO
ISIN Code
Nominal Value, lei
Previous Sale Price of 1 Share, lei
Revalued Sale Price of 1 Share, lei
% Decrease in Price
Number of Shares under Fiduciary Administration % Held Number of Clients Net Assets per Share at the Time of Setting the Initial Sale Price Net Assets per Share, According to the Last Financial Statement Submitted to CNPF Value, lei Period Value, lei Period

CF "BV Fiduciar Invest" SA a) Joint-stock companies where the net asset value exceeds the nominal value by 100%

1. S.A. "Luceafărul-Drochia"
   Bălți, Ștefan cel Mare St. 191
   1003607011737
   MD14LUCE1000
   4
   3.07
   3.07
   0
   303
   0.36
   3
   10.28
   Q4, 2006
   -
   -
2. S.A. "Făuraș"
   Cahul, Dunării St. 17
   1003603007431
   MD14URAS1000
   10
   8.00
   8.00
   0
   155
   0.34
   3
   26.79
   2017
   41.66
   2024
3. S.A. "Micul Prinț"
   Leova, Independenței St. 24
   1003605011560
   MD14MIPR1005
   8
   10.96
   10.96
   0
   13,700
   33.29
   -
   37.7
   2018
   37.92
   2024 b) Joint-stock companies where the net asset value is positive and exceeds the nominal value
4. S.A. "Curcubeul Primăverii"
   Chisinau, Sarmizegetusa St. 12
   1007603002803
   MD14CURC1006
   7
   3.07
   3.07
   0
   2,480
   14.1
   145
   10.03
   Q3, 2000
   -
   -

"Compania Fiduciara a Feroviarilor" SA a) Joint-stock companies where the net asset value exceeds the nominal value by 100%
5. S.A. "Micul Prinț"
Leova, Independenței St. 24
1003605011560
MD14MIPR1005
8
10.96
10.96
0
3,016
7.33
1
956
37.7
2018
37.92
2024