On the Approval of Securities Valuation Acts Held by Fiduciary Administrators CF BV Fiduciar Invest SA, CF Econ-Renaștere SA and Compania Fiduciară 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 October 6, 2026 No. 52/3 On the Approval of Securities Valuation Acts Held by Fiduciary Administrators CF "BV Fiduciar Invest" SA, CF "Econ-Renaștere" SA and "Compania Fiduciară a Feroviarilor" SA

On September 23, 2026, the fiduciary administrators CF "BV Fiduciar Invest" SA, CF "Econ-Renaștere" SA and "Compania Fiduciară a Feroviarilor" SA submitted applications No. 54, No. 36 and No. 26 (registered with the National Financial Market Commission (CNPF) under Nos. 8645, 8646 and 8647), pertaining to the valuation acts of client assets held in fiduciary administration (approved at the liquidation commission meeting on September 23, 2026).

Thus, on the basis of Art. 1 para. (3) and para. (4) and Art. 146¹ of Law No. 171/2012 on the capital market (Law No. 171/2012), Art. 8 lit. b), Art. 18 para. (3), Art. 20 para. (1) and para. (6) and Art. 22 para. (3) of Law No. 192/1998 on the National Financial Market Commission, point 8 subpoint 2), points 25 and 27 of the Regulation on the procedure for cessation of fiduciary investment administration activity (CNPF Decision No. 40/4/2018), 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, CF "Econ-Renaștere" SA and "Compania Fiduciară a Feroviarilor" SA are approved (Annex No. 1).

2. The exposure for sale without announcement of the initial price (at the highest price proposed by the buyer) of the securities held by the fiduciary administrator "BV Fiduciar Invest" SA is approved, in the manner established by Art. 146¹ para. (2) and para. (4) of Law No. 171/2012 (Annex No. 2).

3. The Moldova Stock Exchange is permitted not to reflect in open positions the lists of securities exposed at auction as single packages, according to Annexes No. 1 and No. 2.

4. The deregistration from the State Register of Legal Persons of the joint-stock company "Piele" is noted, as a result of liquidation, according to Annex No. 3.

5. In the event of exercising the rights provided for in Art. 146¹ para. (3) of Law No. 171/2012, the president of the liquidation commissions of the fiduciary administrators CF "BV Fiduciar Invest" SA, CF "Econ-Renaștere" SA and "Compania Fiduciară 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.

6. 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 communication.

7. 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).

Dumitru BUDIANSCHI,
PRESIDENT

1
Annex No. 1
to CNPF Decision
No. 52/3 of 06.10.2026
List of joint-stock companies whose share packages are exposed for sale in the course of outcry auctions, organized within the MTF

No. p/o
Name of SA
Address
IDNO
ISIN Code
Nominal Value, lei
Previous selling price per share, lei Revalued price per share, lei % price reduction Number of shares under fiduciary administration % held Number of clients Net assets per share at the time of setting the initial selling price Net assets per share, according to the last financial statement submitted to CNPF value, lei period value, lei year

I. CF "BV Fiduciar Invest" SA
a) joint-stock companies whose net asset value exceeds the nominal value by 100%

1. S.A. "Infomac"
   Chisinau,
   Sarmizegetusa St.
   37/2
   1003600166591 MD14FOMA1008 15 12.08 11.48 5 463 4.58 207 72.97 2013 - - 2. S.A. "AvicolaTalmaz" Stefan Vodă District, Talmaza Village 251471 MD14AVTA1007 10 8.81 8.37 5 19 827 3.13 210 42.5 Q2, 1998 - -
2. S.A. "Gezegen" Cahul District, Lenin St.
   119/a
   1003611006659 MD14GEZE1000 9 3.53 3.35 5 484 9.56 13 21.29 2013 - -
3. S.A. "Alet" Chisinau,
   Bucuriei St.
   12/A
   1002600035845 MD14ALET1005 1 1.21 1.15 5 470 485 30.87 - 6.48 Q4, 2004 - -
4. S.A. "Profilcons" Soroca,
   Cosăuţi St. 10 1003607012631 MD14PCSO1008 5
   15.38 14.61
   5
   20 405 24.34 44 74.3 2009 - -
5. S.A. "Hidroinpex"
   Soroca,
   V. Stroescu St.
   118/A
   1003607005170 MD14INPE1009 20 7.46 7.09 5 23 122 3.66 680 40.05 2017 25.43 2025

2
7. S.A. "Galaxia
-Books"
Chisinau,
Sarmizegetusa St.
12
1005604002736 MD14LAXI1005
5 1.71 1.62
5
6 791 10.22 205 9.17 2010

8. S.A. "Lucoarea

Venus"
Dondușeni,
Independenței St. 4
1009604002974 MD14VENU1005
5 1.10 1.05
5
6242 10.77 333 5.94 Q3,
2002
9. S.A. "Izotermocon"
Chisinau,
Bucuriei St.
12/A
1002600040508 MD14IZOT1009 10 2.82 2.
6
8
5 12 191 24.47 1 342 15.12 Q1,
2005

10. S.A. "BTA
    -23
    Taraclia"
    Taraclia,
    Vokzalinaia St. 51 1003610001989 MD14BZST1002 10 3.46 3.29 5 249 0.45 5 20.56 2017 46.39 202 5
11. S.A. "BTA
    -28
    Călăraşi"
    Călăraşi,
    Al. cel Bun St.
    238
    1004609000372 MD14BARA1003 10 42.54 40.41 5 180 0.22 4 257.6 2017 365.71 202 5
12. S.A. "Concom
    RTCA"
    Chisinau,
    Petricani St.
    202
    1003600070450 MD14RTCA1001 10 7.09 6 .74 5 372 0.23 3 42.23 2017 33.19 202 5
13. S.A. "Promstroi

Grup"
Chisinau,
Uzinelor St. 90 1002600004166 MD14SOGU1007 10 14.13 13.42 5 8 244 0.59 235 84.23 2017 12 7 . 2 3 202 5
14. S.A. "Magnolia

Servcom"
Chisinau,
Petricani St. 23 1002600037481 MD14MAGN1008 10 8.37 7 .95 5 314 0.11 5 49.88 2017 49.13 2025
15. S.A. "Mașrut" Strășeni,
M. Costin St. 2 1003600079257 MD14MASR1000 10 5.94 5.64 5 415 0.11 5 35.44 2017 8.93 2025
16. S.A. "Service auto
prim"
Bălți,
Heciului St. 2 1002602005363 MD14SEAU1005 23 10.82 10.28 5 85 0.075 5 64.47 2017 102.73 2025
17. S.A. "Unita"
Hânceşti,
Industrială St.
12
1002605000314 MD14UNIT1005 25 11.31 1 0 .74 5 21 0.06 2 67.42 2017 75.33 2025
18. S.A. "Aparat" Bălți,
Sennaia piața 2 1003602033967 MD14APAR1007 1 0.35 0.3 3 5 304 0.06 7 2.32 2017 2.22 2024
19. S.A. "Aqua
-Prut" Cahul District, Roşu Village 1003603008520 MD14AQUA1001 9 9.37 8 .90 5 465 0.22 3 62.88 2017 48.06 2025
20. S.A. "Servmec" Cimișlia,
Cetatea Albă St. 2 1003605007882 MD14SEME1001 10 4.13 3.92 5 300 0.12 5 27.66 2017 21.17 2025
21. S.A. "Cosînzeana"
Ungheni,
Naţională St.
15
1002609000688 MD14COSZ1006
1 1.06 1.
0
1
5 2 455 0.4 108 7.13 2017 5.81 2025
22. S.A. "DCRR
-Orhei" Orhei,
S. Lazo St. 33 1003606005966 MD14DCRR1000 10 7.55 7.17 5 162 0.68 3 50.62 2017 45 9 .03 2025
23. S.A. "Drenaj"
Chișinău,
Uzinelor St.
188
1003600079969 MD14RENA1005 10 17.85 16.96 5 340 0.69 4 119.7 2017 52.30 2025
24. S.A. "Fertilitatea

Strășeni"
Strășeni,
M. Costin St. 8 1005600006471 MD14TERF1004 10 6.69 6.36 5 150 0.08 2 44.78 2017 37.26 2025

3
25. S.A. "Garant-Auto" Comrat,
Gavriliuc St. 10 1003611010441 MD14GARN1003 7 10.46 9.94 5 128 0.16 4 70.15 2017 38.63 2025
26. S.A. "Investcom" Chișinău,
Gh. Tudor St. 3 1002600044573 MD14IVSM1006 10 6.40 6.08 5 306 0.27 11 42.91 2017 16.84 2025
27. S.A. "Rechin" Briceni,
Pescarilor St. 38 1004604001950 MD14RECH1001 10 15.58 14.80 5 79 0.19 6 104.5 2017 49.39 2025
28. S.A. "Refplast"
Anenii Noi,
Chișinăului St.
42
1003600125903 MD14REFP1008 10 3.70 3.51 5 540 0.32 3 24.84 2017 18.06 2025
29. S.A. "RIFAcvaaparat"
Bălți,
Decebal St. 9 1002602000519 MD14RIFA1001 5 9.63 9.15 5 120 0.03 5 64.53 2017 115.05 2025
30. S.A. "Spectrul" Chișinău,
Feredeului St. 4 1003600022585 MD14PECT1009 14 6.69 6.36 5 373 0.42 3 45.84 2017 34.06 2025
31. S.A. "Vuldis"
Vulcăneşti,
Frunzelor St.
115
1003611005733 MD14VULD1008 50 18.14 17.23 5 169 0.73 3 121.6 2017 73.51 2025 32. S.A. "Baza comercială angro textile" Chișinău, Petricani St. 23/2 1003600019963 MD14TEXT1000 10 4.47 4.25 5 4 805 1.11 41 28.23 2017 19.59 2025 33. S.A. "Combinatul de collectare și prelucrare a cerealelor din Făleşti" Fălești, Bogdan Vodă St. 31 1003602021869 MD14COMF1006 1 0.24 0.23 5 5967 0.23 27 2.48 2017 2.21 2025 34. S.A. "Fabrica de prelucrare a semințelor din porumb din Răuțel" Fălești District, Răuțel Village 1002602001435 MD14UTEL1001 5 5.52 5.24 5 990 0.07 13 32.96 2017 41.69 2025
35. S.A. "FertilitateaHîncești"
Hâncești,
M. Kogălniceanu St. 3
1005605004508 MD14FERH1008 10 4.37 4.15 5 536 0.26 5 38.76 Q4, 2002 - -
36. S.A. "Grand M. R."
Chișinău,
Cricova,
Chișinăului St.
112/A
1003600028196 MD14GRMD1001 5 1.89 1.80 5 81 1.49 4 16.88 Q4, 2007 - - b) joint-stock companies whose net asset value is positive and exceeds the nominal value
37. S.A. "CaracudaHîncești"
Hânceşti,
Industrială St.
22
1002605000473 MD14CARA1002 4 0.56 0.53 5 159 0.07 2 5.219 2017 8.29 2025
38. S.A. "Asicon"
Călăraşi,
Constructorilor St.
6
1002609001250 MD14ASIC1003 10 1.47 1.40 5 179 0.19 2 14.01 2017 15.49 2025
39. S.A. "BTA-26"
Cantemir,
B. Glavan St.
16
1005603005774 MD14ANSP1001 40 8.37 7.95 5 100 1.1 2 79.89 2017 46.24 2025

4
40. S.A.
"Hidroconstructor"
Orhei District, Pelivan Village 1003606009791 MD14HIDO1009 10 2.84 2.70 5 102 0.09 1 24.1 2017 6.05 2025 c) joint-stock companies whose net asset value is positive, but does not exceed the nominal value
II. CF "Econ-Renaștere" SA
a) joint-stock companies whose net asset value exceeds the nominal value by 100%
41. S.A. "Tehoptimed"
Chișinău,
M. Drăgan St.
19/A
1003600087162 MD14TEHO1005 12 16.20 16.20 0 21 486 34.17 1 389 70.8 2017 98.84 2025
42. S.A. "Alet"
Chișinău,
Bucuriei St.
2/A
1002600035845 MD14ALET1005 1 1.16 1.10 5 900 0.06 57 6.48 Q4, 2004 - - b) joint-stock companies whose net asset value is positive and exceeds the nominal value
43. S.A. "Nord-Zahăr" Briceni,
Uzinelor St. 30 1003604005353 MD14ZABR1004 10 2.65 2.52 5 31 617 0.46 384 16.62 2017 10.00 2025
44. S.A. "Izotermocon"
Chișinău,
Bucuriei St.
2/A
1002600040508 MD14IZOT1009 10 2.97 2.82 5 3 602 7.23 140 15.12 Q4, 2005 - -
III. "Compania Fiduciară a Feroviarilor" SA
a) joint-stock companies whose net asset value exceeds the nominal value by 100% 45. S.A. "Alet" Chișinău, Bucuriei St. 2/A 1002600035845 MD14ALET1005 1 1.22 1.16 5 287 510 18.87 1 632 6.48 Q4, 2004 - b) joint-stock companies whose net asset value is positive and exceeds the nominal value
46. S.A. "Nord-Zahăr"
Briceni,
Uzinelor St. 30 1003604005353 MD14ZABR1004 10 2.65 2.52 5 16 576 0.24 162 16.62 2017 10.00 2025
47. S.A. "Izotermocon"
Chișinău,
Bucuriei St.
12/A
1002600040508 MD14IZOT1009 10 2.54 2.41 5 1 310 2.63 162 15.12 Q4, 2005 - -

1
Annex No. 2
to CNPF Decision
No. 52/3 of 06.10.2026
Securities held by the fiduciary administrator CF "BV Fiduciar Invest" SA, which are exposed for sale in the course of outcry auctions, organized on a regulated market and/or within an MTF, without announcement of the initial price (at the highest price proposed by the buyer)

No. p/o
Name of SA
Address
IDNO
ISIN Code
Nominal Value, lei
Initial selling price per share, lei Last selling price per share, lei Number of shares under fiduciary administration % held Number of clients Net assets per share at the time of setting the initial selling 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

1. S.A. "Chimistul-M"
   Chisinau, Muncești
   Boulevard 803 1003600039943 MD14MIST1000 10 7.17 1.00 275 973 76.88 6 750 7.17 2015 - -

1
Annex No. 3
to CNPF Decision
No. 52/3 of 06.10.2026
Joint-stock company, under fiduciary administration of the fiduciary administrator CF "BV Fiduciar-Invest" SA, which has been deregistered from the State Register of Legal Persons, as a result of liquidation

No. p/o
Name of SA
Address
IDNO
ISIN Code
Nominal Value, lei
Number of shares under fiduciary administration % held Number of clients Date of deregistration from SRLR

1. "
   "
   S.A. "PIELE" Chisinau, Ismail St. 99 1002600027619 MD14PIEE1000 8 3 160 0.23 165 18.08.2026