CVNE redeems 2,100 treasury shares and reduces its capital by 504 euros

Compañía Vinícola del Norte de España, S.A. (CVNE) has reduced its share capital by 504 euros through the cancellation of 2,100 treasury shares, according to the announcement published in the Official Gazette of the Mercantile Registry (BORME) number 181, dated Friday, September 18, 2026, Second Section —Announcements and legal notices—, pages 6301 and 6302, with official reference BORME-C-2026-5066. The decision corresponds to the Ordinary General Meeting held on September 10, 2026, which approved the resolution unanimously. Following the operation, the share capital is set at 3,093,032.88 euros.

The agreement and its content

Item Nine of the agenda records the reduction of capital by the amount of five hundred and four euros (504 euros), through the cancellation of 2,100 treasury shares with a nominal value of 0.24 euros each. These shares represented 0.0163 percent of the share capital at the time the resolution was adopted.

The new capital figure is 3,093,032.88 euros, divided and represented by 12,887,637 shares with a nominal value of 0.24 euros each, fully paid up. The announcement is disseminated in compliance with Article 319 of the Capital Companies Act and modifies Article 5 of the corporate bylaws, dedicated to the capital figure.

Without creditor opposition and charged to reserves

The agreement takes immediate effect by the sole will of the General Meeting, without prejudice to the formalization acts, as there is no right of opposition for creditors. The reasons stated in the announcement are as follows:

• The reduction does not involve the return of contributions, because the company itself is the owner of the shares being cancelled.
• It is carried out charged to freely disposable reserves.
• A reserve for cancelled capital is established for an amount equal to the nominal value of the cancelled shares.
• This reserve may only be used under the same requirements demanded for the reduction of capital.
• Pursuant to Article 335 c) of the Capital Companies Act, creditors do not have the right of opposition provided for in Article 334.

The shares are represented by book entries, and the legitimacy to exercise shareholder rights is obtained through registration in the corresponding accounting record.

A recurring operation after each meeting

The cancellation of treasury shares is a common practice in the company, which repeats after each ordinary general meeting. The precedents published in the same gazette are as follows:

• 2025: reduction of 147.60 euros due to the redemption of 615 shares, with resulting capital of 3,093,536.88 euros (meeting of September 11, 2025; BORME-C-2025-5178, BORME no. 180, of September 22, 2025, p. 6384).
• 2024: reduction of 697.68 euros due to the redemption of 2,907 shares, with resulting capital of 3,093,684.48 euros (meeting of September 19, 2024; BORME-C-2024-5393, BORME no. 192, of October 4, 2024, p. 6675).
• 2023: reduction of 705.60 euros due to the redemption of 2,940 shares, with resulting capital of 3,094,382.16 euros (meeting of September 13, 2023; BORME-C-2023-5927, BORME no. 187, of September 29, 2023, p. 7121).

The announcement was signed in Laguardia (Álava) on September 11, 2026 by the President, Víctor Urrutia Ybarra, and is also available on the company’s website, www.cvne.com.

Relevance

The operation has a low quantitative impact—barely 0.0163 percent of the capital—but confirms the continuity of the shareholder remuneration policy of one of the benchmark wineries of Rioja, which has been steadily reducing capital since at least 2023. The fact that the reduction is covered by freely disposable reserves and not by the return of contributions explains why creditors cannot object, which gives immediate effectiveness to the agreement and strengthens the company’s financial position vis-à-vis third parties.

Source: Official Gazette of the Mercantile Registry, no. 181, of September 18, 2026, Second Section —Announcements and legal notices—, p. 6301-6302 (official reference: BORME-C-2026-5066).