Transaction in Own Shares • Jan 9, 2026
Transaction in Own Shares
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Llodio, 09 de enero de 2026
De conformidad con lo previsto en el artículo 227 del texto refundido de la Ley del Mercado de Valores, aprobado por el Real Decreto Legislativo 4/2015, de 23 de octubre, y disposiciones concordantes, Tubacex, S.A. (en adelante, la "Sociedad") comunica que en relación con la comunicación de fecha 22 de agosto de 2019 (Nº de Registro: 281291) relativa al contrato de liquidez firmado con JB Capital Markets, Sociedad de Valores, S.A.U. (el "Contrato de Liquidez"), y de acuerdo con lo establecido en la Norma Cuarta, apartado 2.b) de la Circular 1/2017, de 26 de abril, de la Comisión Nacional del Mercado de Valores, sobre los contratos de liquidez, a continuación se detallan las operaciones efectuadas en virtud del mencionado Contrato de Liquidez correspondiente al cuarto trimestre de 2025.
| Resumen | |||||
|---|---|---|---|---|---|
| Títulos | Importe (€) | Precio medio Ejecución | |||
| Saldo a la firma del contrato | 56.405 | 146.371,00 | |||
| Saldo inicial | 182.328 | 241.744,35 | • | ||
| Compra | 921.455 | -3.131.998,57 | 3,398970726 | ||
| Ventas | -933.921 | 3.192.450,25 | 3,418330084 | ||
| Gastos directamente vinculados | |||||
| a la operativa bursátil | 1.023,94 | ||||
| Saldo actual | 169.862 | 301.172,09 |
Asimismo, a continuación, se detallan en el anexo las operaciones efectuadas sobre acciones propias durante el periodo mencionado.
Atentamente,
Maider Cuadra Etxebarrena

Anexo I: Detalle de operaciones efectuadas durante el cuarto trimestre de 2025
| Fecha operación | Nº Títulos | Bloque | Nº | Precio medio | Efectivo ejecución (€) | Posición a la fecha (nº | Importe neto | |
|---|---|---|---|---|---|---|---|---|
| геспа орегастоп | N- IIIulos | Dioque | operacion | ejecución (€) | títulos) | importe neto | ||
| Saldo inicial | • | • | • | 241.744,35 | 182.328 | |||
| Compras | 01 / 10 / 2025 | 10.000 | N | 12 | 3,52750 | -35.275,00 | 192.328 | 206.469,35 |
| Ventas | 01 / 10 / 2025 | -20.000 | N | 7 | 3,57630 | 71.525,00 | 172.328 | 277.994,35 |
| Compras | 02 / 10 / 2025 | 10.000 | N | 4 | 3,63250 | -36.325,00 | 182.328 | 241.669,35 |
| Ventas | 02 / 10 / 2025 | -15.000 | N | 4 | 3,63330 | 54.500,00 | 167.328 | 296.169,35 |
| Compras | 03 / 10 / 2025 | 3.211 | N | 1 | 3,67500 | -11.800,43 | 170.539 | 284.368,92 |
| Ventas | 03 / 10 / 2025 | -15.000 | N | 15 | 3,67500 | 55.125,00 | 155.539 | 339.493,92 |
| Compras | 06 / 10 / 2025 | 10.000 | N | 4 | 3,67980 | -36.797,58 | 165.539 | 302.696,34 |
| Ventas | 06 / 10 / 2025 | -15.000 | N | 22 | 3,69670 | 55.450,00 | 150.539 | 358.146,34 |
| Compras | 07 / 10 / 2025 | 10.000 | N | 8 | 3,65750 | -36.575,00 | 160.539 | 321.571,34 |
| Ventas | 07 / 10 / 2025 | -9.247 | N | 19 | 3,66370 | 33.878,47 | 151.292 | 355.449,81 |
| Compras | 08 / 10 / 2025 | 5.000 | N | 6 | 3,64500 | -18.225,01 | 156.292 | 337.224,80 |
| Ventas | 08 / 10 / 2025 | -20.000 | N | 11 | 3,67500 | 73.500,00 | 136.292 | 410.724,80 |
| Compras | 09 / 10 / 2025 | 10.000 | N | 8 | 3,65750 | -36.575,00 | 146.292 | 374.149,80 |
| Ventas | 09 / 10 / 2025 | -13.198 | N | 5 | 3,70980 | 48.962,55 | 133.094 | 423.112,35 |
| Compras | 10 / 10 / 2025 | 25.000 | N | 12 | 3,58300 | -89.575,00 | 158.094 | 333.537,35 |
| Compras | 13 / 10 / 2025 | 11.783 | N | 7 | 3,55850 | -41.929,65 | 169.877 | 291.607,70 |
| Ventas | 13 / 10 / 2025 | -10.000 | N | 6 | 3,57500 | 35.750,00 | 159.877 | 327.357,70 |
| Compras | 14 / 10 / 2025 | 15.000 | N | 3 | 3,52330 | -52.850,00 | 174.877 | 274.507,70 |
| Ventas | 14 / 10 / 2025 | -15.000 | N | 5 | 3,52670 | 52.900,01 | 159.877 | 327.407,71 |
| Compras | 15 / 10 / 2025 | 15.000 | N | 10 | 3,53500 | -53.025,00 | 174.877 | 274.382,71 |
| Ventas | 15 / 10 / 2025 | -10.000 | N | 2 | 3,54750 | 35.475,00 | 164.877 | 309.857,71 |
| Compras | 16 / 10 / 2025 | 10.000 | N | 7 | 3,53000 | -35.300,00 | 174.877 | 274.557,71 |
| Ventas | 16 / 10 / 2025 | -15.000 | N | 7 | 3,54500 | 53.175,00 | 159.877 | 327.732,71 |
| Compras | 17 / 10 / 2025 | 15.000 | N | 16 | 3,54440 | -53.165,86 | 174.877 | 274.566,85 |
| Ventas | 17 / 10 / 2025 | -15.000 | N | 6 | 3,55000 | 53.250,00 | 159.877 | 327.816,85 |
| Compras | 20 / 10 / 2025 | 11.914 | N | 11 | 3,53080 | -42.065,99 | 171.791 | 285.750,86 |
| Ventas | 20 / 10 / 2025 | -15.000 | N | 5 | 3,53670 | 53.050,00 | 156.791 | 338.800,86 |
| Compras | 21 / 10 / 2025 | 10.000 | N | 7 | 3,53500 | -35.350,00 | 166.791 | 303.450,86 |
| Ventas | 21 / 10 / 2025 | -15.000 | N | 8 | 3,53830 | 53.075,00 | 151.791 | 356.525,86 |
| Compras | 22 / 10 / 2025 | 25.000 | N | 8 | 3,44200 | -86.050,01 | 176.791 | 270.475,85 |
| Ventas | 22 / 10 / 2025 | -5.000 | N | 4 | 3,44500 | 17.225,00 | 171.791 | 287.700,85 |
| Compras | 23 / 10 / 2025 | 15.000 | N | 16 | 3,36670 | -50.500,01 | 186.791 | 237.200,84 |
| Ventas | 23 / 10 / 2025 | -24.000 | N | 9 | 3,41270 | 81.905,00 | 162.791 | 319.105,84 |
| Compras | 24 / 10 / 2025 | 25.583 | N | 19 | 3,38940 | -86.711,59 | 188.374 | 232.394,25 |
| Ventas | 24 / 10 / 2025 | -10.000 | N | 3 | 3,38000 | 33.800,00 | 178.374 | 266.194,25 |
| Compras | 27 / 10 / 2025 | 10.840 | N | 10 | 3,42690 | -37.147,80 | 189.214 | 229.046,45 |
| Ventas | 27 / 10 / 2025 | -20.000 | N | 4 | 3,43000 | 68.600,00 | 169.214 | 297.646,45 |
| Compras | 28 / 10 / 2025 | 15.000 | N | 5 | 3,43000 | -51.450,00 | 184.214 | 246.196,45 |
| Ventas | 28 / 10 / 2025 | -15.000 | N | 4 | 3,44170 | 51.625,00 | 169.214 | 297.821,45 |
| Compras | 29 / 10 / 2025 | 20.000 | N | 17 | 3,45750 | -69.149,82 | 189.214 | 228.671,63 |
| Ventas | 29 / 10 / 2025 | -10.100 | N | 7 | 3,47740 | 35.121,50 | 179.114 | 263.793,13 |
| Compras | 30 / 10 / 2025 | 20.000 | N | 6 | 3,41380 | -68.275,00 | 199.114 | 195.518,13 |
| Ventas | 30 / 10 / 2025 | -5.000 | N | 2 | 3,45500 | 17.275,00 | 194.114 | 212.793,13 |
| Compras | 31 / 10 / 2025 | 21.500 | N | 8 | 3,33870 | -71.782,50 | 215.614 | 141.010,63 |
| Ventas | 31 / 10 / 2025 | -21.919 | N | 18 | 3,30640 | 72.473,95 | 193.695 | 213.484,58 |
| Ventas | 03 / 11 / 2025 | -43.900 | N | 38 | 3,44690 | 151.318,21 | 149.795 | 364.802,79 |
| Compras | 04 / 11 / 2025 | 20.000 | N | 14 | 3,39750 | -67.950,00 | 169.795 | 296.852,79 |
| Ventas | 04 / 11 / 2025 | -11.108 | N | 6 | 3,45760 | 38.406,89 | 158.687 | 335.259,68 |
| Compras | 05 / 11 / 2025 | 20.000 | N | 10 | 3,36380 | -67.275,00 | 178.687 | 267.984,68 |

| P | ||||||||
|---|---|---|---|---|---|---|---|---|
| Ventas | 05 / 11 / 2025 | -5.000 | N | 1 | 3,36000 | 16.800,00 | 173.687 | 284.784,68 |
| Ventas | 06 / 11 / 2025 | -30.000 | N | 12 | - | 102.225,00 | , | |
| 3,40750 | · · | 143.687 | 387.009,68 | |||||
| Compras | 07 / 11 / 2025 | 21.931 | N | 13 | 3,37510 | -74.018,79 | 165.618 | 312.990,89 |
| Ventas | 07 / 11 / 2025 | -15.000 | N | 22 | 3,41670 | 51.250,00 | 150.618 | 364.240,89 |
| Compras | 10 / 11 / 2025 | 10.000 | N | 8 | 3,45000 | -34.500,01 | 160.618 | 329.740,88 |
| Ventas | 10 / 11 / 2025 | -20.000 | N | 14 | 3,45000 | 69.000,00 | 140.618 | 398.740,88 |
| - | * | |||||||
| Compras | 11 / 11 / 2025 | 15.000 | N | 7 | 3,42500 | -51.375,00 | 155.618 | 347.365,88 |
| Ventas | 11 / 11 / 2025 | -15.000 | N | 7 | 3,44830 | 51.725,00 | 140.618 | 399.090,88 |
| Compras | 12 / 11 / 2025 | 20.000 | N | 20 | 3,42630 | -68.525,00 | 160.618 | 330.565,88 |
| Ventas | 12 / 11 / 2025 | -15.000 | 11 | - | 51.457,84 | |||
| N | 3,43050 | 145.618 | 382.023,72 | |||||
| Compras | 13 / 11 / 2025 | 15.000 | N | 7 | 3,42000 | -51.300,00 | 160.618 | 330.723,72 |
| Ventas | 13 / 11 / 2025 | -5.251 | N | 7 | 3,42970 | 18.009,22 | 155.367 | 348.732,94 |
| Compras | 14 / 11 / 2025 | 15.000 | N | 6 | 3,39170 | -50.875,00 | 170.367 | 297.857,94 |
| Ventas | 14 / 11 / 2025 | -12.647 | 14 | - | 43.077,74 | |||
| N | 3,40620 | 157.720 | 340.935,68 | |||||
| Compras | 17 / 11 / 2025 | 16.558 | N | 14 | 3,39100 | -56.148,83 | 174.278 | 284.786,85 |
| Ventas | 17 / 11 / 2025 | -15.000 | N | 7 | 3,39170 | 50.875,00 | 159.278 | 335.661,85 |
| Compras | 18 / 11 / 2025 | 20.000 | N | 9 | 3,33750 | -66.750,00 | 179.278 | 268.911,85 |
| • | - | |||||||
| Ventas | 18 / 11 / 2025 | -5.000 | N | 1 | 3,33500 | 16.675,00 | 174.278 | 285.586,85 |
| Compras | 19 / 11 / 2025 | 15.000 | N | 8 | 3,31170 | -49.675,00 | 189.278 | 235.911,85 |
| Ventas | 19 / 11 / 2025 | -20.000 | N | 16 | 3,33000 | 66.600,00 | 169.278 | 302.511,85 |
| Ventas | 20 / 11 / 2025 | -30.283 | N | 15 | - | 102.715,03 | 138.995 | 405.226,88 |
| 3,39180 | * | |||||||
| Compras | 21 / 11 / 2025 | 25.000 | N | 20 | 3,33500 | -83.374,70 | 163.995 | 321.852,18 |
| Ventas | 21 / 11 / 2025 | -5.000 | N | 5 | 3,31000 | 16.550,00 | 158.995 | 338.402,18 |
| Compras | 24 / 11 / 2025 | 10.000 | N | 2 | 3,33750 | -33.375,00 | 168.995 | 305.027,18 |
| Ventas | 24 / 11 / 2025 | -17.133 | N | 5 | - | 57.509,54 | ||
| 3,35670 | 151.862 | 362.536,72 | ||||||
| Compras | 25 / 11 / 2025 | 16.132 | N | 7 | 3,33860 | -53.858,24 | 167.994 | 308.678,48 |
| Ventas | 25 / 11 / 2025 | -20.000 | N | 12 | 3,35630 | 67.125,00 | 147.994 | 375.803,48 |
| Compras | 26 / 11 / 2025 | 15.000 | N | 3 | 3,37330 | -50.600,00 | 162.994 | 325.203,48 |
| • | - | · | ||||||
| Ventas | 26 / 11 / 2025 | -20.000 | N | 28 | 3,38250 | 67.650,00 | 142.994 | 392.853,48 |
| Compras | 27 / 11 / 2025 | 15.000 | N | 6 | 3,40330 | -51.050,00 | 157.994 | 341.803,48 |
| Ventas | 27 / 11 / 2025 | -20.000 | N | 7 | 3,42630 | 68.525,00 | 137.994 | 410.328,48 |
| Compras | 28 / 11 / 2025 | 14.185 | N | 6 | 3,44000 | -48.796,40 | 152.179 | |
| • | - | 361.532,08 | ||||||
| Ventas | 28 / 11 / 2025 | -15.400 | N | 14 | 3,45360 | 53.186,00 | 136.779 | 414.718,08 |
| Compras | 01 / 12 / 2025 | 15.000 | N | 6 | 3,44330 | -51.650,00 | 151.779 | 363.068,08 |
| Ventas | 01 / 12 / 2025 | -15.000 | N | 9 | 3,45000 | 51.750,00 | 136.779 | 414.818,08 |
| Compras | 02 / 12 / 2025 | 20.000 | 5 | - | -68.875,00 | |||
| • | N | 3,44380 | 156.779 | 345.943,08 | ||||
| Ventas | 02 / 12 / 2025 | -15.229 | N | 13 | 3,43870 | 52.367,34 | 141.550 | 398.310,42 |
| Compras | 03 / 12 / 2025 | 15.000 | N | 6 | 3,43450 | -51.517,76 | 156.550 | 346.792,66 |
| Ventas | 03 / 12 / 2025 | -6.356 | N | 5 | 3,43950 | 21.861,43 | 150.194 | 368.654,09 |
| Compras | 04 / 12 / 2025 | 20.000 | 18 | - | -68.500,01 | |||
| • | N | 3,42500 | 170.194 | 300.154,08 | ||||
| Ventas | 04 / 12 / 2025 | -10.000 | N | 4 | 3,42500 | 34.250,00 | 160.194 | 334.404,08 |
| Compras | 05 / 12 / 2025 | 17.468 | N | 10 | 3,38570 | -59.142,16 | 177.662 | 275.261,92 |
| Compras | 08 / 12 / 2025 | 15.000 | N | 10 | 3,35000 | -50.250,00 | 192.662 | 225.011,92 |
| Ventas | 08 / 12 / 2025 | -15.000 | 7 | - | 50.277,61 | |||
| N | 3,35180 | 177.662 | 275.289,53 | |||||
| Compras | 09 / 12 / 2025 | 15.000 | N | 7 | 3,33000 | -49.950,00 | 192.662 | 225.339,53 |
| Ventas | 09 / 12 / 2025 | -15.000 | N | 3 | 3,33500 | 50.025,00 | 177.662 | 275.364,53 |
| Compras | 10 / 12 / 2025 | 10.000 | N | 12 | 3,33000 | -33.300,00 | 187.662 | 242.064,53 |
| Ventas | 10 / 12 / 2025 | -2.154 | 3 | 7.183,59 | ||||
| N | 3,33500 | 185.508 | 249.248,12 | |||||
| Compras | 11 / 12 / 2025 | 6.139 | N | 5 | 3,34160 | -20.514,26 | 191.647 | 228.733,86 |
| Ventas | 11 / 12 / 2025 | -5.170 | N | 4 | 3,34450 | 17.291,10 | 186.477 | 246.024,96 |
| Compras | 12 / 12 / 2025 | 14.000 | N | 7 | 3,33530 | -46.694,00 | 200.477 | 199.330,96 |
| Ventas | 12 / 12 / 2025 | -20.000 | 8 | 67.325,00 | ||||
| N | 3,36630 | 180.477 | 266.655,96 | |||||
| Compras | 15 / 12 / 2025 | 15.000 | N | 8 | 3,27830 | -49.175,00 | 195.477 | 217.480,96 |
| Ventas | 15 / 12 / 2025 | -8.418 | N | 13 | 3,29760 | 27.759,25 | 187.059 | 245.240,21 |
| Compras | 16 / 12 / 2025 | 15.000 | N | 8 | 3,23330 | -48.500,00 | 202.059 | 196.740,21 |
| Ventas | 16 / 12 / 2025 | -15.000 | 5 | 48.600,00 | ||||
| N | 3,24000 | 187.059 | 245.340,21 | |||||
| Compras | 17 / 12 / 2025 | 15.000 | N | 11 | 3,22830 | -48.425,00 | 202.059 | 196.915,21 |
| Ventas | 17 / 12 / 2025 | -17.000 | N | 9 | 3,20980 | 54.566,50 | 185.059 | 251.481,71 |
| Compras | 18 / 12 / 2025 | 15.000 | N | 13 | 3,17170 | -47.575,00 | 200.059 | 203.906,71 |
| Ventas | 18 / 12 / 2025 | -15.000 | 3 | 47.700,00 | ||||
| N | 3,18000 | 185.059 | 251.606,71 | |||||
| Compras | 19 / 12 / 2025 | 15.000 | N | 3 | 3,21170 | -48.175,00 | 200.059 | 203.431,71 |
| Ventas | 19 / 12 / 2025 | -18.225 | N | 17 | 3,23000 | 58.866,16 | 181.834 | 262.297,87 |
| Compras | 22 / 12 / 2025 | 14.000 | N | 10 | 3,24680 | -45.455,00 | 195.834 | 216.842,87 |
| Ventas | 22 / 12 / 2025 | -15.000 | 9 | |||||
| N | 3,22330 | 48.350,00 | 180.834 | 265.192,87 | ||||
| Compras | 23 / 12 / 2025 | 15.000 | N | 9 | 3,24150 | -48.622,26 | 195.834 | 216.570,61 |
| Ventas | 23 / 12 / 2025 | -17.000 | N | 6 | 3,24210 | 55.115,00 | 178.834 | 271.685,61 |
| Compras | 24 / 12 / 2025 | 16.047 | N | 10 | 3,25620 | -52.251,97 | 194.881 | 219.433,64 |
| Ventas | 24 / 12 / 2025 | -17.183 | N | 21 | 3,26350 | 56.076,44 | 177.698 | 275.510,08 |
| Compras | 29 / 12 / 2025 | 18.000 | N | 7 | 3,27030 | -58.865,00 | 195.698 | 216.645,08 |
| Ventas | 29 / 12 / 2025 | -18.000 | N | 11 | 3,26880 | 58.838,87 | 177.698 | 275.483,95 |
| Compras | 30 / 12 / 2025 | 15.000 | N | 5 | -48.850,00 | 192.698 | 226.633,95 | |
| 3,25670 | ||||||||
| Ventas | 30 / 12 / 2025 | -15.000 | N | 7 | 3,27830 | 49.175,00 | 177.698 | 275.808,95 |
| Compras | 31 / 12 / 2025 | 12.164 | N | 9 | 3,31820 | -40.362,93 | 189.862 | 235.446,02 |
| Ventas | 31 / 12 / 2025 | -20.000 | N | 11 | 3,33750 | 66.750,01 | 169.862 | 302.196,03 |
| • | , | , | -, | |||||
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