Indexa lifts the ‘lock-up’ for investors seven months earlier than agreed to increase liquidity

• The company has announced that it has ended the ‘no-sale’ agreement of shares among a dozen historical partners. This was supposed to last three years until July 12, 2026.

• Consequence: from today, shares of the company can be bought and sold by those partners. This initial agreement group includes the founding team, the funds Cabiedes & Partners and All Iron, Fides Capital, and other partners such as Pedro Luis Uriarte

• The objective: “to allow greater flexibility and promote greater liquidity in the market.” Several of the funds will be able to ‘cash out’ partially or totally from their positions.

• Many of them have accumulated very significant capital gains, especially important partners such as Cabiedes & Partners itself. The latter had registered, according to its latest annual accounts, its 19% at acquisition cost: €1.75M.

• In any case, that agreement did not prevent small partial sales. And to date, the ‘hard core’ of shareholders has not divested shares.

• On the horizon is precisely attracting more investors, which could contribute to “facilitating the group's future access” to the Main Market (Continuous) in Spain. Throughout 2025, around 800,000 euros have been traded in 2025 (5.4% of the ‘free float’, i.e., about 14.7 million).

• Today it trades at a market capitalization of €165M. The current share price is 11.4 euros compared to the 10.3 euros at which it debuted in 2023.

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