Barras Eléctricas reduces capital by amortizing 3,697 bearer shares

Barras Eléctricas Galaico-Asturianas, S.A. has convened its shareholders to an Ordinary General Meeting to be held on October 2, 2026, at its registered office in Lugo, at Rúa Ramón María Aller Ulloa, nº 9. Among the items on the agenda is a reduction of share capital through the amortization of 3,697 bearer shares, intended for the return of the value of contributions, which will require a separate vote from the affected shareholders.

The notice is published in the Official Gazette of the Mercantile Registry (BORME), number 167, of August 31, 2026, page 6027, with the official reference BORME-C-2026-4827. The agreement was adopted by the Board of Directors in exercise of the powers conferred upon it by the Bylaws, and the announcement was signed in Lugo on August 26, 2026, by the Secretary of the Board, Mr. Pelayo Echevarría Ybarra.

The meeting and its agenda

The meeting will be held on first call at 12:00 p.m. and, if necessary, on second call at 1:00 p.m. on the same day and at the same location. The agenda includes seven points, most notably the approval of the annual accounts and the Board’s management for the 2025 financial year, the distribution of results, and two operations regarding the share capital.

• First: examination and approval of the Annual Accounts and the Board’s management for the 2025 financial year.
• Second: distribution of results.
• Third: capital reduction for the increase of the legal reserve and statutory amendment.
• Fourth: capital reduction through the amortization of 3,697 bearer shares for the return of contributions.
• Fifth: delegation of powers.
• Sixth: requests and questions.
• Seventh: reading and approval, if applicable, of the meeting minutes.

The capital reduction and the separate vote

The fourth point proposes to amortize 3,697 bearer shares, numbered consecutively from 5,214,901 to 5,217,339, along with other tranches ranging from 5,218,040 to 5,219,677, in order to return the value of the contributions and amend the bylaws accordingly.

In accordance with Articles 329 and 293 of the Capital Companies Act, the proposal requires, in addition to the majority of the capital attending the meeting under the requirements for statutory amendments, the approval of the majority of votes of the attending capital corresponding to the shares to be amortized. To this end, a separate vote will be held within the meeting, in which only the shareholders affected by the reduction will participate.

Shareholders’ rights

From the publication of the notice, shareholders may examine at the registered office and obtain immediately and free of charge the documents submitted for the approval of the meeting, including those for the first item, the Management Report, the Auditors’ Report, the full text of the proposed amendments to the bylaws, and the Board’s justifying reports on the third and fourth items. They may also request that these documents be sent to them free of charge.

The operation directly affects the holders of the bearer shares that will be redeemed, who will be refunded the value of their contributions. For a historic electric utility company from Lugo, this capital reduction represents a significant step in the restructuring of its assets, and the separate vote ensures that the shareholders directly involved decide on the measure that concerns them.

Source: Official Gazette of the Mercantile Registry (BORME), no. 167, August 31, 2026, Second Section – Notices of Meetings, p. 6027 (official reference: BORME-C-2026-4827).