Sinteza S.A.

Quarterly Report • Nov 15, 2024

SINTEZA S.A. Șos. Borșului nr. 35 410605 ORADEA - ROMANIA

E-mail: sinteza@sinteza.ro

Tax code: RO 67329 No. at the Trade Register Office - Bihor: J.05/197/1991

BANK: UNICREDIT BANK ACCOUNT IN RON: RO64BACX0000000484374000

QUARTERLY REPORT ACCORDING TO ASF REGULATION NO.5/2018

Phone no .: 0259 444 969

Fax no .: 0259 462 224

www.sinteza.ro

Date of report: Name of the company: Headquarters: Phone: Fax: Tax Identification Code: 67329 Number of registration in the Commercial Register: Subscribed and paid capital: Regulated market where the issued securities are traded:

30.09.2024 SINTEZA S.A 410605 Oradea,Borşului, road 35 40 259 456 116 40 259 462 224

J/05/197/1991 9.916.888,50 RON

BUCHAREST STOCK EXCHANGE

This Quarterly Report includes:

• 1) The financial statements on 30.09.2024, prepared in accordance with International Financial Reporting Standards (IFRS).
  • Statement of financial position at 30.09.2024
  • Statement of Comprehensive Income on 30.09.2024
  • Statement of the modification shareholders' equities on 30.09.2024
  • Cash flow statement
• 2) Notes to the financial statements ended 30.09.2024
• 3) Economic and financial indicators specified in Appendix 13 A of ASF Regulation No.5 / 2018.

Note that first quarter 2024 financial statements were not audited.

SINTEZA SA ORADEA informs the investors that Q3 REPORT is available for consultation at the company's headquarters in Oradea, Borşului Street No. 35, daily from 9 to 12, on the company's website www.sinteza.ro , as well as in link below, starting on 15.11.2024

1. Financial statements at 30.09.2024

Individual and consolidated Financial Statements 30.09.2024

INDICATOR	INDIVIDUAL		CONSOLIDATED
	31.12.2023	30.09.2024	31.12.2023	30.09 2024
Tangible assets
Freehold land and land improvements	14,737,009	14,730,372	14,737,009	14,730,372
Buildings	11,515,309	11,089,129	11,515,309	11,089,129
Technical installations and transport means	9,881,254	10,655,131	9,881,254	10,655,131
Furniture, office automation equipments	69,154	50,159	69,154	50,159
Tangible assets in progress	1,065,604	243,185	1,065,604	243,185
Advance payments for tangible assets
Total of tangible assets	37,268,330	36,767,976	37,268,330	36,767,976
Intangible assets
Concessions, patents, licences,
trademarks	52,390	24,041	52,390	24,041
Intangible assets in progress
Shares owned at branch offices and other fixed securities	3,295	3,295	6,195	6,195
Rights to use the assets leased	71,898	50,099	71,898	20,099
Total of intangible assets	37,395,913	36,845,411	37,398,813	36,848,311
Current assets
Stocks	2,759,880	287,412	2,759,880	287,412
Trade receivables and other receivables	1,052,742	111,960	1,052,757	-1,668,320
Accrued expenses	99,828	189,864	99,828	189,864
Cash and cash equivalent	223,168	178,740	224,033	178.872
Assets classified as being held for sale	1,999,171	1,999,171	1,999,171	1,999,171
Total of current assets	6,134,789	2,767,147	6,135,669	986,999
Total of assets	43,530,702	39,612,558	43,534,482	37,835,310
Shareholders' equities
Share capital	9,916,889	9,916,889	9,916,889	9,916,889
Share premiums
Reserves	30,686,182	30,686,182	32,125,420	32,125,420
Result of the year	-10,719,506	-5,333,598	-10,724,863	-5,337,887
Result carried forward	-1,482,584	-12,202,090	-4,691,722	-15,416,586
Other elements of shareholders' equities	-540	-540	-540	-540
Minority interests			-4,183	-4,192
Total of shareholders' equities	28,400,441	23,066,843	26,621,001	21,283,104
Long-term liabilities
Long-term loans and other liabilities	45,691	26,108	45,691	26,108
Deferred income
Provisions
Deferred tax liabilities	3,496,076	3,496,076	3,496,076	3,496,076
Total of long-term liabilities	3,541,767	3,522,184	3,541,767	3,522,184
Current liabilities
Short-term loans	5,160,720	5,330,708	5,160,720	5,330,708
Trading liabilities and other liabilities,
including derivatives	6,108,938	7,557,004	7,892,158	7,563,495
Deferred income	197,811	14,794	197,811	14,794
Provisions	121,025	121,025	121,025	121,025
Liabilities classified as being held for sale
Total of current liabilities	11,588,494	13,023,531	13,371,714	13,030,022
Total of liabilities	15,130,261	16,545,715	16,913,481	16,552,206
Total of shareholders' equities and		39,612,558	43,534,482	37,835,310
liabilities	43,530,702

		INDIVIDUAL		CONSOLDATED
INDICATOR	30.09.2023	30.09.2024	30.09.2023	30.09.2024
Continuous activities
Income	11,778,242	2,598,131	11,778,242	2,598,131
Other income	345,057	451,348	345.057	451,348
Changes in inventories	-873,416	-2,419,844	-873,416	-2,419,844
Total of operating income	11,249,883	629,635	11,249,883	629,635
Expenses related to inventories	6,665,293	119,039	6,665,293	119,039
Expenses related to utilities	1,959,776	493,228	1,959,776	493,228
Expenses with the employees' benefits	4,589,133	3,067,484	4,592,679	3,071,477
Amortization and depreciation of fixed assets	1,891,172	607,652	1,891,172	607,652
Gains (-)/losses from the assignation of fixed
assets (+)	-1,272,471		-1,272,471
Value adjustment of current assets	1,614	-4,294	1,614	-4,294
Adjustments related to provisions
Other expenses	2,063,664	1,442,474	2,064,087	1,442,780
Total of operating expenses	15,898,181	5,725,583	15,902,150	5,729,882
Result of the Operating Activities	-4,648,298	-5,095,948	-4,652,267	-5,100,247
Financial income	119,914	14,673	119,914	14,673
Financial expenses	431,123	252,323	431,123	252,323
Net financial result	-311,209	-237,650	-311,209	-237,650
Result before the taxation	-4,959,507	=5,333,598	-4,963,476	-5,337,897
Expense with the current income tax
Expenses with the deferred income tax
Deferred income tax-related income
Result of the Continuous Activities	-4,959,507	-5,333,598	-4,963,476	-5,337,897
Minority interests			9	10
Total of the overall result afferent to the
nariod	1 959 507	-5 333 598	-4 963 467	-5 337 887

Statement of the individual and consolidated overall result 30.09.2024

JV.VJ.LUCH
Modification resources of the shareholders' equities	capital Share	Share premi ums	instrume ssued capital nts	Othe equit ﮯ V	The cumulative those elements of the overall value. To result	Result carried forward	reserves. Reeval	reservatio Other ns	(-) Own shares	holders of sharehold ers'equity Attributabl e profit or loss (-) to company parent in the the	(-) Interim dividends	resel elements of the overall Cumulative value. Other Minority interests	items Minority interests Other	Total
0	ﺎ	ਟ	ల	র্ব	ഹ	9	L	8	റ	10	11	12	13	14
Opening balance (before restatement)
The effect of error corrections
The effect of changes in accounting policies
Opening balance (current period)	9,916,889				(10,719,506)	(1,482,584)	26,582,348	4,103,834	(540)					28,400,441
Ordinary bond Issues
ssues of preferred shares
ssues of other equity instruments
Exercising or expiring other issued capital instruments
Conversion of liabilities into shareholders' equity
Capital reduction
Dividends
Buying own shares
Sale or cancellation of own shares
Reclassification of financial instruments from equity into debt
Transfers between equity components					10,719,506	(10,719,506)
Increases or (-) decreases in equity resulting from combinations of activities
Share -based payments
Other increases or (-) decreases in equity
Total overall result for the year					(5,333,598)									(5,333,598)
Closing balance (current period)	9,916,889				(5,333,598)	(12,202,090)	26,582,348	4,103,834	(540)					23,066,843

Statement of the modifications in the individual shareholders' equities 30 09 2024

SU.US CULS
Modification resources of the shareholders' equities	Share capital	Share premi ums	instrume lssued capital nts	equity Other	elements of cumulative the overall value. To those result The	Result carried forward	reserves. Reeval	reservatio Other ns	(-) Own shares	sharehold Attributabl holders of loss (-) to e profit or ers'equity company parent in the the	(-) Interim dividends	result elements of the overall Cumulative value. Other Minority interests	smali Minority interests Other	Total
0	1	ਟ	ల	র্ব	ഹ	9	L	8	6	10	11	12	13	14
Opening balance (before restatement)
The effect of error corrections
The effect of changes in accounting policies
Opening balance (current period)	9,916,889				2,088,497)	(1,345,597)	28.098.250	4.103.834	(540)					38.684.339
Ordinary bond issues
Issues of preferred shares
ssues of other equity instruments
Exercising or expiring other issued capital instruments
Conversion of liabilities into shareholders' equity
Capital reduction
Dividends
Buying own shares
Sale or cancellation of own shares
Reclassification of financial instruments from equity into debt
Transfers between equity components					2,088,497	(2,088,497)
Increases or (-) decreases in equity resulting from combinations of activities
Share -based payments
Other increases or (-) decreases in equity						1.790.631	(1.790.631)
Total overall result for the year					(4,959,507)									(4,959,507)
PICA onalso Clacinia	0 016 889				507 050 A	463 643	Q 61 26 307	4 103 834	UNKI

Statement of the modifications in the individual shareholders' equities 20 00 2022

S

14,167

Statement of the modifications in the consolidated sharenoiders' equitie
	30 09 2024

Total	14				26.621.001														(10)	(5,337,887)	21,283,104
sməti Minority interests Other	13
result elements of the overall Cumulative value. Other Minority interests	12				(4.183)														(10)		(4,192)
dividends (-) Interim	11
ers'equitie holders of sharehold Attributabl loss (-) to e profit or company s in the parent the	10
(-) Own actions	റ				(540)																(540)
reservatio Other ns	8				5,507,136																5.507.136
reserves. Reeval	1				26,618,284																26.618.284
Result carried forward	9				(4.691.722)											(10,724,863)					(15.416.586)
value. To those elements of the cumulative overall result The	9				10.724.863)											10,724,863				(5,337,887)	(5.337.887)
Othe equit y ﻤﺎ	ব
instrume ssued capital nts	3
Share premi ums	2
Share capital	ﺎ				9.916.889																9 916 889
Modification resources of the shareholders' equities	0	Opening balance (before restatement)	The effect of error corrections	The effect of changes in accounting policies	Opening balance (current period)	Ordinary bond issues	Issues of preferred shares	ssues of other equity instruments	Exercising or expiring other issued capital instruments	Conversion of liability into shareholders' equity	Capital reduction	Dividends	Buying own shares	Sale or cancellation of own shares	Reclassification of financial instruments from equity into debt	Transfers between equity components	Increases or (-) decreases in equity resulting from combinations of activities	Share -based payments	Other increases or (-) decreases in equity	Total overall result for the year	Berind rrent C Closina halance

Statement of the modifications in the consolidated shareholders' equities
	30.09.2023

36,910,269 (છ) (4,963,467) Total 14 temps 13 Minority interests Other result (9) (4.170) elements of the overall 12 Cumulative value. Other Minority inferests (-) Interim dividends 11 ers'equitie holders of sharehold Attributabl e profit or loss (-) to company s in the parent the 10 (540) (-) Own actions ర్ 5.507.136 reservatio Other ns ರಿ (1,790,631) 28.134.186 reserves. Reeval L (2,097,266) (4,545,966) 1.790.631 forward Result carried 9 2,097,266 (2,097,266) (4,963,467) elements of cumulative the overall value. To result those The ഹ Other equity ব instrume ssued capital లు nts Share premi ums 2 9.916.889 Share capital ﺎ Reclassification of financial instruments from Increases or (-) decreases in equity resulting The effect of changes in accounting policies Other increases or (-) decreases in equity Exercising or expiring other issued capital Opening balance (before restatement) Conversion of liability into shareholders' Modification resources of the Transfers between equity components Opening balance (current period) shareholders' equities Sale or cancellation of own shares ssues of other equity instruments Total overall result for the year from combinations of activities The effect of error corrections Issues of preferred shares Share -based payments O Ordinary bond issues Buying own shares Capital reduction equity into debt instruments Dividends equity
											31.946.793
											(4,179)
											(540)
											5.507.136
											26.343.555
											(4,852,601)
											(4,963,467)
											9.916.889
											Closing balance (current period)

Individual cash flow statement on 30.09.2024

	30.09.2023	30.09 2072
Cash flows from operating activity
Receipts from sales to customers	16,167,511	3,784,883
Other receipts (including net VAT refunds)	700,031	1,075,457
Payments to suppliers	14,969,019	2,255,617
Payments of net wages	2,722,701	1,418,235
Payments to budgets	368,302	909,673
Other payments	241,256	253,050
Net cash from operating activities	-1,433,736	23,765
Cash flows from investments activities
Payments for acquisition of fixed assets	58,131	17,347
Receipts from sales of tangible fixed assets
Interest received
Net cash from investment activities	-58,131	-17,347
Net cash from financing activities
Proceeds from loans	6,968,652	293,284
Interest paid and loan refunds	6,059,567	344,130
Dividends paid
Net cash from financing activities	909,085	-50,846
Net increase/(decrease) of cash	-582,782	-44,428
Cash and cash equivalent at the beginning of the period of
time	1,214,206	223,168
Cash and cash equivalent at the end of the period of time	631,424	178,740

• lei -

Consolidated cash flow statement on 30.09.2024

		- lei -
	30.09.2023	30.09 2022
Cash flows from operating activity
Receipts from sales to customers	16,167,511	3,784,883
Other receipts (including net VAT refunds)	702,531	1,078,967
Payments to suppliers	14,969,019	2,255,617
Payments of net wages	2,724,910	1,420,735
Payments to budgets	369,573	911,110
Other payments	241,679	253,356
Net cash from operating activities	-1,435,139	23,032
Cash flows from investments activities
Payments for acquisition of fixed assets	58,131	17,347
Receipts from sales of tangible fixed assets
Interest received
Net cash from investment activities	-58,131	-17,347
Net cash from financing activities
Proceeds from loans	6,968,652	293,284
Interest paid and loan refunds	6,059,567	344,130
Dividends paid
Net cash from financing activities	909,085	-50,846
Net increase/(decrease) of cash	-584,185	-45,161
Cash and cash equivalent at the beginning of the period of
time	872,544	224,033
Cash and cash equivalent at the end of the period of time	288,359	178,872

2. Notes to the financial statements ended 30.09.2024

The entity reported:

SINTEZA S.A. it is headquartered Oradea, Borsului Road No.35, Registration No. J 05/197/1991 T. It is a joint stock company and operates in Romania in accordance with Law No.31 / 1990 on commercial companies.

The activity of the Company is based on the production and marketing of basic organic chemical products - CAEN code 2014.

The Company's shares are listed on the Bucharest Stock Exchange, Standard category , with the indicative STZ

On this, the company is owned by the following shareholders:

No. crt.	Name/Name	Percentage owned
1	FIA WITH PRIVATE CAPITAL BT INVEST 1	33.8898
2	PASCU RADU	31.1597
3	Alternative Investment Company With Private Capital Roca Investments SA	18.0000
4	Other natural and legal persons	16.9505
	Total	100.00

Evidence shares and shareholders is held according to the law, by Depozitarul Central S.A. Bucharest

Presentation of Financial Statements

The individual financial statements are presented in accordance with International Financial Reporting Standards requirements (IFRS).

Functional and presentation currency

The chosen functional currency is the leu (RON). The financial statements are presented in RON.

Significant accounting policies

The Company organizes and manages financial accounting, according to the Accounting Law no. 82/1991, with subsequent amendments and IFRS

Financial accounting provides a chronological and systematic recording, processing, publish and maintain information about the financial position, financial performance and other information related to the work.

Transactions in foreign currencies

Operations in foreign currency are recorded in RON at the exchange rate on the date of the transaction.

At the end of each month, the liabilities in foreign currency are valued at the exchange rate of the currency market, announced by the National Bank of Romania in the last working day of the month in question.

Financial instruments

The company owns the non-derivative financial assets: trade receivables, cash and cash equivalents.

Tangible assets

Tangible assets are assets that:

• are held by a company for use in the production of goods or services, for rental to others or for administrative purposes; and

-are used over a period longer than one year.

Production cost includes direct costs related to the production assets such as direct materials, energy consumption for technological purposes, the costs of salaries, contributions and other legal related expenses, arising directly from the construction of property and equipment, costs of site preparation costs initial delivery and handling, installation and assembly costs, testing costs for the proper functioning of the asset, professional fees and fees paid in connection with the asset, the cost of designing products and obtain necessary permits; Subsequent expenditure on a tangible asset is recognized:

-as an expense in the period in which they were incurred if they are considered repairs or purpose of these expenditures is to ensure continued use of the asset while maintaining the original technical parameters; or

-as part of the asset, as subsequent expenses, if the conditions to be considered investments on fixed assets.

Depreciation of tangible assets is calculated starting with next month commissioning and until full recovery of their input. The Company calculated and accounted for depreciation of tangible leased, rented or management location. Land is not depreciated.

Intangible assets:

Within intangible assets include:

-establishment costs;

-development costs;

-concessions, patents, licenses, trademarks, rights and similar assets, except those created by society;

-goodwill;

-other intangible assets;

• advance payments for intangible assets;

-intangible assets in progress.

Amortization of intangible assets is allocated on a systematic basis over the best estimate of its useful life

The method of amortization of intangible assets is the straight one.

Items of stocks

Registration in inventory accounting entry shall be made after the transfer of risks and rewards.

Trade discounts granted by the supplier and included in the purchase invoice reduces the acquisition cost of goods.

In determining the cost of production using standard cost method, taking into account normal levels of materials and supplies, labor, efficiency and production capacity.

The levels considered normal consumption of material shall be reviewed within 12 months.

Revenue

Revenue represents increases in economic benefits, incurred during the year, which generated an increase in equity in forms other than those expressing consideration nterprise's new owners.

Revenues are recognized on an accrual basis.

Expenditure

Company expenses are amounts paid or payable.

Accounting expenses take the kinds of expenses as follows:

Synthetic spending accounts covering multiple items with different tax deductibility regime develops analytical, analytical so that each reflect specific content.

Debts of company

Debts evidenced by accounting company on behalf of third-party accounts. Accounting suppliers and other liabilities take into categories and each person or entity. Personal rights shall be accounted for retaining contributions Income tax payment as a liability should be recognized to the extent unpaid.

Foreign currency debt rating and those with settlement in lei depending on the course of Poreign currency debtraining and those with betwent in Tork of Romania, valid on the date of each financial year.

Commercial and financial discounts

Confineredal and mianolar diosean.
Trade discounts granted by the supplier and included in the purchase invoice adjusted downwards acquisition cost of goods.

downwards acquisition cost of goods.
Trade discounts to customers in order to reduce the amount of income adjusted for the transaction.

Contingent assets and liabilities

Contingent assets and habilities is presented in the notes if the inflows are likely to arise economic benefits.

Events after the preparation of financial statements

Events after the balance sheet date are those events, favorable or unfavorable, that occur Events aller the balance sheet date are the date the annual financial statements are authorized for issue. They are presented in the notes when considered significant.

Events or uncertainty factors that affect or could affect the company's activity

Events of affected by the global crisis of credit and liquidity constraints that led to a low level and difficult access to funds on the capital market.

and difficult access to funds on the ouplar market, generated in part by developments in the euro Sighaled Contraction in the lindinely market, generals new loans and refinance those already obtained in terms and conditions related to past transactions.

already obtained in terms and conditions relations were of available liquidity, which could Also, borrowers Company may be uncoted by low love in impact on the ability to forecast cash flows

Cash nows.
The Company can not predict all the events that would impact on the financial sector and any effects that would interfere with the financial statements.

ellects that would interes with the imancial statements of future decreases. The Company can not estimate the enoses on and financial assets or credit market contraction or increasing currency volatility.

However, the Company believes that, in specific market conditions that works, characterized However, the Company believes that, in opeofitoriants and their risk assessment and by a strong specialization of a Small hambor of parting of incoming and outgoing flows of cash and by making short-term forecasts net liquidity.

cash and by making cubject to externally imposed capital requirements.

ﯿﮑﮯ
Curre nt iss.	Indicator	Calculation	Result
1	Current liquidity	Current Assets / Current Liabilities	0,20
		Borrowed capital / Equity *100	0.00
2	Indebtedness percentage	Equity / Capital employed * 100	100.00
3	The rotation speed of debits - clients	The average balance of clients Turnover* 270	44,54
ব	The rotation speed of fixed assets	Turnover/Fixed assets	0.07

3. Economic and financial indicators

FINANCIAL MANAGER ADRIAN BUCUREAN