Purcari Wineries : Eugen Comendant resigns as COO, remains in Board & trading update

Eugen Comendant resigns as COO, remains in Board.

Company issues trading update.

Bucharest, 20 January 2023

Purcari Wineries Public Company Limited ("Company", "Group", "Purcari" - BVB:WINE), CEE's leading wine producer, announced today that Eugen Comendant, its Chief Operating Officer, will be leaving his COO position to pursue new opportunities. Mr. Comendant is also a member of the Purcari Board of Directors and will continue to serve on the Board following his voluntary resignation from the position of Chief Operating Officer.

In his role as Chief Operating Officer, Eugen Comendant has overseen a number of areas at Group level including marketing, sales, finance, product development, legal, HR, M&A, IT and IR. Mr. Comendant has made significant contributions to the Company's success through his strategic vision and strong leadership, driving key initiatives and directing important projects in these business areas that have helped to solidify Purcari's position as a regional leader in the wine industry.

Eugen Comendant's last day as COO will be 31 March 2023. Until a new appointment is made, his functional responsibilities will be overseen directly by Victor Bostan, CEO of Purcari Wineries. Despite his departure as COO, Mr. Comendant will retain his position as a member of the Board of Directors of Purcari Wineries, where he will continue to provide valuable guidance and support.

"We are deeply grateful for all that Eugen has done for Purcari and we wish him the best in his new ventures," said Victor Bostan, CEO. "His leadership and expertise have been invaluable to our company, and we will miss him on a daily basis. However, we are pleased that he will continue to be a part of the Purcari team as a member of the Board of Directors."

"We are saddened to see Eugen leave the executive team of Purcari as he and his family make this next step in their life journey, but we are grateful for the meaningful contributions to our company and wish him all the best in his new endeavors", added Vasile Tofan, Chairman.

"I treasure the opportunity to have been a part of the Purcari team and to have been able to contribute to the company's growth and evolution," said Eugen Comendant. "I have had the pleasure of working with incredibly talented, ambitious and dedicated people, with whom I'm happy to have shared many

successes and achievements. While I will certainly miss the team and the energetic environment at Purcari, I am excited to continue supporting the team as a member of the Board of Directors. I am confident that the company is in great shape to continue its path towards becoming the undisputed champion of the wine industry in Central and Eastern Europe."

Trading update

The Company has also issued today a 4Q22 and full year 2022 trading update, ahead of the preliminary financials to be reported on February 28, 2023. The Group has booked revenues of RON 302.6 million in full year 2022, up 22% year-on-year, above the 15-20% annual guidance announced. In 4Q22, the revenues reached RON 102.9 million, growth accelerating compared to 9M22, to +26% year-on-year (vs. +20% in the first three quarters of the year).

"We are pleased with our 2022 results, against a difficult macroeconomic backdrop and are optimistic about this the new year ahead, in which we want to maintain our track record of accelerated growth and will continue working hard to meet and exceed the high expectations our customers, team and investors have from us", commented Victor Bostan, CEO.

About Purcari Wineries

Purcari Wineries Public Company Limited is one of the largest wine and brandy groups in CEE. The Group manages around 1,450 hectares of vineyards and operates seven production platforms in Romania, Moldova and Bulgaria. Purcari Wineries is the leader in the Premium wine segment in Romania with a 30% segment share and the largest wine exporter from Moldova, delivering to over 40 countries. Founded in 1827, Chateau Purcari is the most awarded winery of the CEE Region at Decanter London 2015-2021, as well as among the best ranked wineries on Vivino, with an average score of 4.1 out of 5.0, based on over 78,000 reviews. Since February 2018, the Group is listed on the Bucharest Stock Exchange under the ticker WINE. Purcari Wineries is led by Victor Bostan, a veteran with more than 30 years of experience in the wine business and is endorsed by top institutional investors such as: Conseq, East Capital, Franklin Templeton, Fiera Capital, Horizon Capital and Norges Bank.