SIF Oltenia S.A.

Interim / Quarterly Report • Sep 26, 2023

Half-yearly report as of 30.06.2023 – The Simplified Interim Consolidated Financial Statements

The simplified interim consolidated financial statements as of 30.06.2023 were prepared in accordance with the requirements of IAS 34 "Interim Financial Reporting" and must be read together with the consolidated financial statements for 2022, prepared in accordance with Regulation no. 39/2015 for the approval of the Accounting Regulations in compliance with the International Financial Reporting Standards applicable to the entities authorized, regulated and supervised by the Supervisory Authority from the Financial Instruments and Investment Sector as well as the Investor Compensation Fund.

Based on the provisions of Law no. 24/2017 and Regulation no. 5/2018 regarding issuers of financial instruments and market operations, the Company prepares half-yearly consolidated accounting in accordance with IFRS. The half-yearly consolidated accounting report shall be prepared and submitted to the F.S.A. no later than 3 months after the end of the semester.

In the consolidation scope were included a number of 13 commercial companies, in which the ownership is over 50% of the voting rights, which were consolidated by the method of global integration and represent a weight of 14.64% in the total assets of the Company and 15.57% respectively in its net assets.

On 30.06.2023, the Group mainly held shares in companies operating in the field of finance - banks with a share of 45.7% of the total stock portfolio, down by 2.83% compared to 31.12.2022, when this activity sector registered a weight of 47.04%.

THE INTERIM CONSOLIDATED STATEMENT OF PROFIT OR LOSS AND OF OTHER ELEMENTS OF THE COMPREHENSIVE INCOME

	30 June	30 June
in lei	2023	2022
Incomes
Gross incomes from dividends	26,476,902	153,046,357
Incomes from interests	2,211,698	1,175,304
Revenue from contracts with customers	135,788,552	218,130,979
Other operating income	2,330,402	3,450,715
(Loss)/ Net profit from exchange rate differences	26,429	631,962
Net gain from the reassessment of financial assets at fair
value through the profit or loss statement	361,730	830,214
Gain/(loss) from the reassessment of real estate investments		(51,307)
Expenses
(Losses)/reversal of impairment losses on financial assets		14,302
(Losses)/reversal of impairment losses on non-financial
assets	98,280	196,122
(Establishment)/(resumption) of provisions for risks and
expenses		346,389
Expenditure on salaries, allowances and similar expenses	(17,809,626)	(17,857,403)
Raw materials, consumables and goods	(137,025,980)	(149,511,692)
Interest expenses	(4,580,289)	(2,107,992)

	30 June	30 June
in lei	2023	2022
Other operational expenses	(28,877,755)	(28,568,535)
Profit before taxation	(20,999,657)	179,725,415
Profit tax	2,339,692	(10,836,618)
Net profit of the financial year	(18,659,965)	168,888,797
Other elements of the comprehensive income
(Decrease)/increase in the reserve from the revaluation of the tangible assets, net of deferred tax
Other comprehensive income - items that will not be
reclassified to profit or loss	126,894,298	(222,057,325)
	126,894,298	(222,057,325)
Total other elements of the comprehensive income
Total comprehensive income for the financial exercise	108,234,333	(53,168,528)
Afferent net profit
Shareholders of the Group	(16,787,456)	164,932,799
Non-controlling interest	(1,872,509)	3,955,998
Total net profit of the financial year	(18,659,965)	168,888,797
The basic and diluted earnings per share (net profit per
share) of the Group's shareholders		0.3302
Basic and diluted earnings per share (including earnings from the sale of FVTOCI financial assets), relating to the
Group's shareholders	0.0035	0.3501
Total comprehensive income for the financial exercise related to	108,234,333	(53,168,528)
Shareholders of the Group	109,437,655	(56,500,242)
Non-controlling interest	(1,203,322)	3,331,714
INTERIM CONSOLIDATED FINANCIAL POSITION
	30 June	31 December
in lei	2023	2022
Assets
Cash and current accounts	5,024,114	9,315,636
Deposits placed in banks	94,653,877	90,949,069
Financial assets assessed at fair value through the profit or loss account	5,822,905	4,475,075
Financial assets assessed at fair value through other elements of
the comprehensive income	1,951,210,167	1,851,871,888

	30 June	31 December
in lei	2023	2022
Real estate investments	335,352,840	308,971,502
Tangible assets	170,097,445	204,768,162
Intangible fixed assets	191,806	216,651
Other assets	2,748,664	469,452
Current tax accounts receivable		418,040
Total assets	2,657,287,934	2,668,257,173
Payables
Loans	42,858,536	160,737,859
Payable dividends	50,259,070	51,083,704
Current tax liabilities		690,393
Trade payables	7,363,414	11,670,375
Other payables	23,285,186	21,138,374
Provisions for risks and expenses	3,758,234	3,108,189
Deferred tax liabilities	125,377,228	114,762,592
Total payables	252,901,668	363,191,486
Equity
Registered capital	50,000,000	50,000,000
Legal and statutory reserves	31,312,325	30,937,825
Retained earnings	833,468,829	1,024,459,557
Reserves from the reassessment of the tangible assets, net of
deferred tax	140,687,779	125,720,104
Reserves from the reassessment of financial assets at fair value
through other elements of the comprehensive income net of
deferred tax	477,784,650	369,357,208
Other reserves	876,367,748	693,070,737
Own shares	(66,139,706)	(63,364,962)
Other elements of equity
Total equity attributable to Company shareholders	2,343,481,625	2,230,180,469
Non-controlling interest	60,904,641	74,885,218
Total equity	2,404,386,266	2,305,065,687
Total payables and equity	2,657,287,934	2,668,257,173

The simplified interim financial statements consolidated on 30.06.2023 are not audited by the external financial auditor.

Infinity Capital Investments S.A. informs the investors that the Report of the Board of Administration and the Simplified Interim Consolidated Financial Statements as of 30.06.2023 – prepared in accordance with legislation in force – will be available starting from 26.09.2023, hour 8:30 am,, thus:

• on BVB website, www.bvb.ro, market symbol SIF 5; .
• on company's website, www.infinitycapital.ro, at the Investors info section/Reports/Periodical reports; .

in written form at company's headoffice, 1 Tufanele Street, Craiova, Dolj, .

as well as by accessing the link below:

Sorin – Iulian CIOACA President - General Manager

Viorica Balan Compliance Officer