Mbf Group Spolka Akcyjna

Report Publication Announcement • Dec 19, 2025

Report Content The Management Board of MBF Group S.A. with its registered office inWarsaw (the 'Issuer', 'Company'), with reference to current report ESPINo. 50/2025 of 14 October 2025 concerning the launch of the MALLARDproject within the Consortium, announces that between 8 and 18 December2025, a series of operational tests of the bridge unmanned system wereconducted as part of the first phase of the project called MALLARD-S('Little Mallard'). The purpose of the tests conducted with the bridgeunmanned aerial vehicle is to confirm its ability to operate at SAIL IIIlevel.

SAIL III (Specific Assurance _ Integrity Level) is a risk level in theSystem of Operations Assessment for Drones (SORA) developed by theEuropean Union Aviation Safety Agency (EASA), which refers to high-riskoperations (e.g. flights over populated areas, in specific conditions,in more complex scenarios, closer to infrastructure). Further flightswill be carried out in the first months of 2026, subject to aviationapprovals and regulations and meteorological conditions.

The successful flights confirming the BSP system's capability to operateat SAIL III level indicate that the aircraft selected and acquired as abridging solution in the creation of an unmanned cargo flight ecosystem(and in further steps towards the main objective of the MALLARD project)is not a conceptual design, but a functioning unmanned aerial vehicle.The acquisition of a ready-made UAV system enables further validation offlight economics, unit costs and models for the organisation of regularcargo operations using large unmanned aerial vehicles.

The test results open up a real opportunity for the Issuer to startoffering pilot implementation of deliveries within the framework ofunmanned cargo air transport, primarily to entities from the logisticsand freight transport sector that are looking for a competitiveadvantage resulting from their role as pioneers in the field of unmannedcargo.

The offer will be addressed in particular to logistics and couriercompanies interested in testing new delivery models between distributionhubs, warehouse and intermodal centre operators, as well as industrial,energy and e-commerce companies and entities providing medical andhumanitarian deliveries in isolated areas. In the opinion of theIssuer's Management Board, participation in the early stages ofimplementation may enable such companies to build long-term marketadvantage, optimise costs and co-create standards for the future cargomarket, which is moving towards unmanned cargo aviation.

At the same time, the Company's Management Board announces thattechnical reports, test analyses and operational reports not covered bytrade secrets or other legal restrictions will be communicated throughthe official communication channels of the Company, Squadron sp. z o.o.(ASE Group) and the project website. The Management Board of the Companyannounces that Squadron Sp. z o.o. (ASE Group) is responsible forcoordinating the stages of the MALLARD project.

In the opinion of the Management Board of MBF Group S.A., the MALLARD-Stests are an important milestone in the MALLARD project and asignificant step towards the commercialisation of unmanned freighttransport services. The Company will provide information on thesubsequent stages of the project's development, including the launch ofpilot tests with industry/logistics partners (proof of concept) and theconclusion of letters of intent and agreements, in separate currentreports on the ESPI. The Issuer considers this information to beconfidential within the meaning of Article 17(1) of MAR, due to itssignificance for the implementation of the Company's developmentstrategy and its potential impact on the Company's future financialresults, market value and contract acquisition opportunities.