On the Payment of the Annual Contribution to the Investor Compensation Fund

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 May 12, 2026 No. 23/6 On the Payment of the Annual Contribution to the Investor Compensation Fund

Following the assessment of the level of financial resources accumulated in the Investor Compensation Fund (the Fund) as of December 31, 2025, taking into account the number of persons whose assets are held by the Fund members, the size of the compensation cap, as well as the volume of revenues recorded during 2025 by the Fund members,

under the authority of Article 8 letter b), Article 18 paragraph (3), Article 20 paragraphs (1), (6) and (7) and Article 22 paragraph (1) of Law No. 192/1998 on the National Financial Market Commission, Article 132 paragraph (1) letter a) of Law No. 171/2012 on the capital market, point 11 and point 12 of the Regulation on the Investor Compensation Fund (CNPF Decision No. 32/2/2014), point 16 and point 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 amounts of the percentage rates are established for the purpose of payment by the members of the Investor Compensation Fund of the annual contribution for the 2025 management period, as follows:
   a) 1 percent of the sum of revenues obtained from the following services and activities:
   investment consulting, placement of financial instruments without firm commitment, consulting provided to joint-stock companies regarding capital structure, industrial strategy and related aspects, services related to mergers and acquisitions of companies and research in investments and financial analysis or any other form of general recommendation regarding transactions with financial instruments; b) 0.5 percent of the sum of revenues obtained from the portfolio management service; c) 1 percent of the sum of revenues obtained from the services of receiving and transmitting orders regarding one or more financial instruments and of executing orders regarding financial instruments on behalf of clients.

2. Members of the Investor Compensation Fund shall pay the annual contribution in the amount of the percentage rates established in point 1 of this Decision, but not less than the equivalent in lei of 500 euros, calculated at the official exchange rate of the National Bank of Moldova on the date of payment.

3. The payment of the annual contribution shall be made by May 31, 2026, in national currency, to the account opened by the CNPF, communicated on the official website.

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

Dumitru BUDIANSCHI,
PRESIDENT