Barras Eléctricas Galaico-Asturianas calls meeting to reduce capital

The Board of Directors of Barras Eléctricas Galaico-Asturianas, S.A. (BEGASA) has convened its shareholders to an Extraordinary General Meeting to submit for approval a reduction of share capital through the redemption of 3,697 shares and the return of the value of the contributions. The meeting will be held at the company’s registered office, at Rúa Ramón María Aller Ulloa, nº 9 in Lugo, on October 6, 2026, at 12:00 p.m. on first call and, if necessary, at 1:00 p.m. on second call. The notice is published in the Official Gazette of the Mercantile Registry (BORME) number 171, dated September 4, 2026, page 6,068, with official reference BORME-C-2026-4862.

The operation is framed within the capital reduction regime provided for in the Capital Companies Act, which requires compliance with reinforced requirements when the redemption affects shareholders unequally. The announcement, signed on August 31, 2026, by the Secretary of the Board of Directors, Mr. Pelayo Echevarría Ybarra, details the scope of the measure and the information guarantees available to the partners.

Capital reduction and redemption of shares

The first item on the agenda proposes the reduction of share capital through the redemption of 3,697 bearer shares, numbered consecutively, with the corresponding statutory modification. The affected shares correspond to the following numbering ranges:

• From 5,214,901 to 5,217,339
• Share 5,218,040
• From 5,218,579 to 5,219,097
• From 5,219,222 to 5,219,335
• From 5,219,485 to 5,219,484
• From 5,219,533 to 5,219,677

The stated purpose of the operation is the return of the value of the contributions to the holders of the redeemed securities, which implies an outflow of funds from the company in favor of the affected shareholders.

Separate voting of the affected shareholders

In accordance with Articles 329 and 293 of the Capital Companies Act, the proposal requires a double quorum. In addition to approval by the majority of the capital attending the meeting under the requirements established for the modification of bylaws, approval is required by the majority of votes of the attending capital, present or represented, corresponding to the shares to be redeemed.

To this end, a separate vote will be conducted within the meeting, in which only the shareholders affected by the reduction will participate. This mechanism protects the interests of those whose shares are being redeemed against the decision of the shareholders as a whole.

Agenda and information rights

The agenda is completed with the delegation of powers to formalize and register the agreements, the period for requests and questions, and the reading and approval of the minutes. From the publication of the notice, shareholders have the right to examine at the registered office and obtain immediately and free of charge the documents submitted for approval, including the full text of the statutory amendment and the justifying report issued by the Board of Directors, and may request their free delivery.

The notice comes months after the company’s ordinary general meeting, held on March 26, 2026, had already agreed to capital reductions which were the subject of an announcement in BORME number 62. The new operation, of an extraordinary nature, directly affects the holders of the listed bearer shares, who must remain attentive to the separate vote and the meeting deadlines to exercise their rights.

Source: Official Gazette of the Mercantile Registry (BORME), no. 171, September 4, 2026, Second Section (Meeting Notices), p. 6,068 (official reference: BORME-C-2026-4862).