Rompetrol Well Services S.A.

Interim / Quarterly Report • Aug 14, 2025

PRESS RELEASE

Regarding the Availability of the Report for the First Half of 2025

Rompetrol Well Services S.A. (PTR) is one of the most important special well services companies in Romania. It provides a wide range of services for oil and natural gas wells in Romania and Eastern Europe (cementing, stimulation, various pumping, pressure tests, instrumentation, well casing operations, etc.).

In the first six months of this year, the company adapted to the volatile market context and maintained profitability through a business strategy focused on identifying new opportunities and partnerships. In this regard, a contract was recently signed for cementing services in the project aimed at developing geothermal wells for the Gerota Hospital.

During April–June 2025 (Q2 2025), the company significantly improved its financial indicators compared to the first quarter of the year. Thus, financial results reported for the entire first half increased, despite global trends indicating a decrease of up to 6% in upstream sector investments.

The company continues to explore opportunities to participate in projects specific to the upstream market as well as in future geothermal projects in Europe and Romania.

For 2025, we estimate that the Company's flexibility regarding the type of services provided, along with a strong financial position—including cash and cash equivalents—will enable operational activity to remain at a level similar to that recorded in 2024.

The company has continued to manage all its commitments under balanced financial conditions, ensuring full and timely cash availability for the payment of commercial obligations, employee rights, and budgetary liabilities.

RON
	Q2 2025	Q2 2024	Q1 2025	H1 2025	H1 2024
Operating revenues, of which:	17,718,649	18,463,111	14,723,889	32,442,538	36,659,182
Services rendered	17,526,581	18,259,508	14,578,181	32,104,762	36,293,019
Operating expenses	(16,785,933)	(16,953,281)	(15,153,579)	(31,939,512)	(33,656,194)
Operating result	932,716	1,509,830	(429,690)	503,026	3,002,988
EBITDA *)	2,073,347	2,716,543	799,543	2,872,890	5,418,050
Net financial income	755,005	917,448	801,093	1,556,098	1,828,758
NET RESULT	1,687,721	2,140,882	187,622	1,694,985	4,126,252

*) EBITDA = = Operating result – value adjustments for fixed assets and current assets – adjustments for provisions

Rompetrol Well Services S.A. informs investors regarding the availability of the Report for the first half of 2025. The report, prepared in accordance with applicable legislation, will be made

Rompetrol Well Services S.A.

2 bis Clopotei Street, 100189, Ploiesti, Prahova County, ROMANIA phone: + (40) 244 544321; fax: + (40) 244 522913; email: office.rws@rompetrol.com; www.rompetrol.com

available to the public starting August 14, 2025, at 18:00, in writing, upon request, as well as in electronic format on the Company's website:

rompetrolwellservices.kmginternational.com/Investor Relations/Financial Results and Reports / Half Yearly Interim Reports.

Rompetrol Well Services S.A. was established in 1951 as a state company subordinated to the Ministry of Petroleum and Chemistry, under the name "ICOTS - Intreprinderea de Cimentari, Operatiuni si Transporturi Speciale" (Cementing, Operations and Special Transport Enterprise). Since 1990, the company had become Petros Ploiesti trading company and had been listed on the Bucharest Stock Exchange since 1998. The Rompetrol Group (currently KMG International) took over the majority stake in 2000, currently having a 73% stake.

GENERAL MANAGER, Georgian Stefan Florea

Rompetrol Well Services S.A.

2 bis Clopotei Street, 100189, Ploiesti, Prahova County, ROMANIA phone: + (40) 244 544321; fax: + (40) 244 522913; email: office.rws@rompetrol.com; www.rompetrol.com

HALF-YEAR REPORT OF THE BOARD OF DIRECTORS

prepared in accordance with Regulation FSA no.5/2018 for the first half-year of 2025

Company ROMPETROL WELL SERVICES S.A.

Registered office: Ploieşti - str. Clopoţei no. 2 bis Telephone no.: 0244/544321, 0244/544101 Fax no.: 0244/522913 Tax identity code: RO 1346607 Trade Registry no.: J29/110/March 05, 1991 Trading market: BUCHAREST STOCK EXCHANGE Subscribed and paid in share capital: RON 27,819,090

Main characteristics of the securities issued by the company

No. of shares: 278,190,900 Nominal value (RON/share): RON 0.10 Class and type of securities: "A" nominative

Rompetrol Well Services S.A. (PTR) is one of the major suppliers of well services in Romania. The company offers a wide range of services for oil and gas wells. These services include cementing, stimulation, tubular running operations etc.

In the first six months of this year, the Company managed to demonstrate its ability to adapt to the current conditions of the upstream market, maintaining its position on the specific market of well-related services.

Although in 2025 we expect the market to be volatile, with a low level of new investment from our main customers, we estimate the Company's flexibility in terms of the type of services provided, along with a strong financial position, including cash and cash equivalents, will allow the operational activity to register a level similar to the one recorded in 2024.

1. Economic and financial position

1.1. Presentation of a current economic and financial analysis in comparison with the same period of the last year, with reference to at least the following:

a) balance sheet items: assets accounting for at least 10% of total assets; cash and other available funds; reinvested profits; total current assets; company's debts situation;company total current liabilities;

		-lei
	At	At
	30.06.2025	31.12.2024
Fixed assets	63.029.173	63.995.957
Current assets, of which:	71.246.815	68.139.909
Cash and availabilities in cash-pooling system	49.029.218	47.407.346
Total assets	134.275.988	132.135.866
Equity, of which:	100.550.551	109.092.873
Current year profit / (loss)	1.694.985	10.237.307
Long term liabilities	7.140.538	7.526.399
Current liabilities	26.584.899	15.516.595
Total equity and liabilities	134.275.988	132.135.866

The net value of fixed assets had recorded an decreasing trend, the significant impact being given by the closing of collateral accounts for letter of guarantees.

The decrease in equity is the direct consequence of level of profitability recorded in first half year of 2025. The significant variation registered in the category of current liabilities is given by the level of dividends payable (10.2 million on 30 June 2025).

b) the profit and loss account: net sales; gross income; cost and expenditure items representing for at least 20% of net sales or of gross income ; provisions for risks and various expenses ; reference to any sale or discontinuation in one activity segment during the last 6 months or during the following 6 months ; dividends declared and paid;

Economic and financial indicators achieved in the first six months of this year, shows the direct effects of current economic conditions, characterized by incresed volatility.

		- lei
	H1 2025	H1 2024
Operating income, out of which:	32.442.538	36.659.182
Services performed	32.346.816	36.293.019
Operating expenses	(31.939.512)	(33.656.194)
Operating result	503.026	3.002.988
Net financial income	1.556.098	1.828.758
Net Result	1.694.985	4.126.252

Operating expenses also include the effect of additional taxation of companies operating in the oil and gas sector, the amount representing specific tax on turnover for the first 6 months being in the amount of RON 171,919.

c) cash flow: all the changes occurred in the cash flow generated by the main activity, by investments and financial activities, the cash flow at the beginning and at the and of the period.

Statement of Cash Flows

Indirect method

		- lei
	H1 2025	H1 2024
Net cash flow (used in) generated by operating activities	3,950,864	3,246,459
Net cash from investments	(1,098,360)	(1,127,580)
Net cash flows from financing activities	(1,429,906)	(1,426,026)
Net increase / (decrease) of cash and cash equivalents	1,423,027	692,665
Cash and cash equivalents at the beginning of the financial year	298,005	648,543
Cash and cash equivalents at the end of reported period	1,720,602	1,341,396

During the first six months of the year 2025, all the company's commitments were respected, managed in financial equilibrium, ensuring the cash availability for full and timely payment of commercial commitments, salaries, budgetary obligations and dividends. Solid liquidity position allowed the Company to address working capital requiments in full from own sources. In addition to the cash presented at the end of the reporting period, the Company can use also without restrictions the own cash resources from cash-pooling master account, in amount of 46,967,186 lei at 30.06.2025, respectively 52,968,293 lei at 30.06.2024.

	H I 2025	H I 2024
1. Liquidity indicators
Current liquidity indicator	2.68	2.72
2. Gearing ratio	6.4%	8.0%
3. Activity indicators
Turnover speed of debits - clients (days)	77.98	88.36
Turnover speed of fixed assets	0.51	0.72

We specify that financial information for the reported period January 1st 2025 – June 30st 2025 was not audited. The auditor's report shall be prepared only annually at the end of each year - calendar year. Financial auditor of the Company is PRICEWATERHOUSECOOPERS AUDIT S.R.L., a company specialized and recognized as independent auditor and audit of annual statements is made in purpose of offering a clear view in all material respects, of the financial position of the company, of the results of its operations, of the situation changes in equity, as well as of the situation cash flow statement.

2. Analysis of the company's activity

2.1. Presentation and analysis of trends, elements, events or uncertainty factors which affect or could affect the company's liquidity position, in comparison with the same period of the last year.

The current context of the upstream market, impacted by the existing geopolitical conditions, continues to cause the large companies in this sector to maintain a low level of investments. However, the Company managed to partially compensate these negative effects, by applying a flexible policy regarding the type of services offered, as well as by a prudential approach to costs, while maintaining its social responsibilities.

To ensure success in service quality, health and safety of employees and environment protection, Rompetrol Well Services has implemented and maintains since 2006 an integrated management system certified according to ISO 9001:2015, ISO 14001:2015 and ISO 45001:2018.

2.2. Presentation and analysis of the effects on the company's financial position of all capital expenditure, either current or anticipated (by mentioning the purpose and the source of finance for the expenditure), in comparison with the same period of the last year.

The company operated mainly through the use of its own financing sources, without engaging credits from banking institutions or other legal persons.

At the beginning of 2020, the Company signed a financial leasing contract which acquires the right to use two production equipment (cement pumping units). The financing contract has a period of 5 years, starting with the date of the goods receipt, the total value of the equipment's being of EUR 2,680,000 and the value financed in the amount of EUR 2,412,000. The Company paid in the first half of the year 2020 the advance, as part of the leasing contract, in amount of RON 1,297,120. The equipment was delivered in the first half of 2022 which resulted in the recognition of assets under the category rights of use of assets and corresponding lease liability in the amount of RON 12,061,957.

The Company will continue with the investment programme for the year using own financing sources, in order to maintain the high quality of equipment and continue to offer services with a high degree of complexity to its customers.

2.3. Presentation and analysis of the events, transactions, economic changes which significantly affect the income generated by the main activity. Mention of the extent to which the income has been affected by each element identified. Comparison with the same period of the last year.

The current market context has characterized by an increased volatility, impacted the upstream industry in Romania in terms of the level of new investments, but, as a result of the Company's flexibility regarding the type of services offered, the Company managed to reach a turnover level similar to that recorded in the first six months of 2024.

The company continues to analyze opportunities for involvement in projects specific to the upstream market, as well as in future geothermal projects in Europe and in the country.

3. Changes which affect the company's capital and administration

3.1. Description of the situations when the company was unable to fulfil its financial obligations within that period.

The Company was able to meet all its financial obligations, having permanently liquidities, the obligations being paid within the deadlines set by the legislative norms or the contractual clauses.

3.2. Description of any change in the rights of holders of securities issued by the company.

The transferable securities issued by SC Rompetrol Well Services S.A. are admitted to the Bucharest Stock Exchange, under category II, starting with 18.06.1998 and are traded on this market under the symbol PTR.

The registered capital at June 30st 2024 is 27,819,090 RON equivalent to 278,190,900 shares with a nominal value of 0.10 RON / share.

During the first half of 2025 there was no change as regards the rights of holders of securities issued by the Company.

At June 30st, 2025, no person from the Company's management participates in the share capital of the company.

4. Significant transactions

In the case of issuers of shares, information on major transactions concluded by the issuer with the persons that act in concert or in which these persons have been involved in the relevant time period.

The transactions with the affiliated parties carried out during the reporting period are as follows:

H1 2025
1,909,542
150,845
3,902
109
126
2.064.525

Acquisitions	H1 2025
Rompetrol Downstream SRL	2,222,765
KMG Rompetrol SRL	1,685,132
KMG Rompetrol Services Center SRL	564,229
Rompetrol Quality Control SRL	363
Total	4.472.490

Chairman of the Board of Directors,

Yedil Utekov

Florea Georgian StefanMoise Luiza Roxana

General Manager, Finance Manager,

AFFIDAVIT

The undersigned, Yedil Utekov, in capacity of Chairman of the Board, Georgian Stefan Florea, in capacity of General Manager and Roxana Luiza Moise in capacity of Finance Manager, in view art. 67 alin. 2 c) of Law no. 24/2017 on issuers of financial instruments and market operations, We hereby declare that:

• In our opinion, the simplified half-yearly financial statements, prepared in accordance with the applicable accounting standards, present fairly, in all material respects, the assets, liabilities, financial position, and profit and loss account of the issuer and of its subsidiaries included in the consolidation process, and the report referred to under point (b) provides complete and accurate information regarding the issuer.

• The Report of the Board of Directors includes an accurate analysis of the development and performance of the company and a description of the main risks and uncertainties specific for activity in the first half of 2024.

Chairman of the Board of Directors,

Yedil Utekov

Member of the Board, General Manager, Stefan Georgian Florea

Director Economic, Luiza Roxana Moise

Rompetrol Well Services S.A.

2 bis Clopotei Street, 100189, Ploiesti, Prahova County, ROMANIA phone: + (40) 244 544321; fax.: + (40) 244 522913; email: office.rws@rompetrol.com; www.rompetrol.com

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ROMPETROL WELL SERVICES SA

STANDALONE INTERIM FINANCIAL STATEMENTS UNAUDITED

Prepared in accordance with Order of Minister of Public Finance no. 2844/2016

30 June 2025

ROMPETROL WELL SERVICES SA Stand-alone Interim Financial Statements Unaudited Prepared in accordance with Order of the Minister of Public Finance no. 2844/2016 30 June 2025

Contents	Page
Statement of profit or loss and other comprehensive income	3
Statement of the financial position	4
Statement of changes in equity	5 - 6
Statement of cash flow	7
Notes to the standalone interim financial statements	8 - 42

ROMPETROL WELL SERVICES SA STATEMENT OF PROFIT OR LOSS AND OTHER COMPREHENSIVE INCOME UNAUDITED For the period ended as at 30 June 2025

(all amounts expressed in Lei ("RON"), unless otherwise specified)

	Notes	st Half of 1 2025	st Half of 1 2024
Revenue		32,346,816	36,535,090
Revenues from contracts with customers	2	32,104,762	36,293,019
Rental revenues	2.1	242,054	242,071
Other operating income	3.1	95,722	124,092
OPERATING INCOME – TOTAL		32,442,538	36,659,182
Expenses with consumables		(8,418,963)	(10,094,311)
Power and water expenses		(305,475)	(240,544)
Merchandise expenses		(11,271)	(3,337)
Payroll costs, out of which:	5	(12,083,932)	(11,219,256)
- Salaries		(11,294,071)	(10,725,433)
- Social security contributions		(390,694)	(356,744)
Fixed assets' value adjustments, of which	7,8,9,17	(2,515,152)	(2,406,372)
- Depreciation and amortization		(2,515,152)	(2,406,372)
- Impairment of property, plant and equipment		-	-
Allowance for inventories	12	-	-
Allowance for expected credit losses	13	145,288	(8,690)
Expenses with third-party services	3.2	(8,050,950)	(9,199,111)
Taxes, duties and similar expenses	3.4	(611,051)	(399,334)
Other operating expenses	3.3	(88,006)	(85,239)
OPERATING EXPENSES – TOTAL		(31,939,512)	(33,656,194)
OPERATING PROFIT / (LOSS)		503,026	3,002,988
Interest income		1,915,757	2,114,223
- of which, revenues from related parties		1,909,542	2,105,216
Other financial income		48,004	7,894
FINANCIAL INCOME - TOTAL	4.1	1,963,761	2,122,117
Finance costs		(407,663)	(293,359)
FINANCE COSTS - TOTAL	4.2	(407,663)	(293,359)
FINANCIAL PROFIT / (LOSS)		1,556,098	1,828,758
PROFIT / (LOSS) BEFORE TAX		2,059,124	4,831,746
Income tax expense		(364,139)	(705,494)
PROFIT / (LOSS) FOR THE YEAR		1,694,985	4,126,252
Earnings per share (Basic and Diluted)	6	0.0061	0.0148
Other comprehensive income that will not be reclassified to profit or loss in subsequent periods (net of tax):		-	-
Actuarial gain / (losses) relating to retirement benefits		-	-
Remeasurement of fair value of equity instruments measured at fair value
through other comprehensive income *		-	-
TOTAL COMPREHENSIVE INCOME FOR THE YEAR, net of tax		1,694,985	4,126,252

Administrator, Prepared by, FLOREA Georgian Stefan MOISE Luiza-Roxana

Signature Signature

ROMPETROL WELL SERVICES SA STATEMENT OF FINANCIAL POSITION UNAUDITED For the period ended as at 30 June 2025

(all amounts expressed in Lei ("RON"), unless otherwise specified)

	Notes	30 June 2025	31 December 2024
Assets
Non-current assets
Property, Plant & Equipment	7	23,674,365	22,505,869
Right of use assets	17.1	10,793,258	10,143,052
Investment property	8	386,293	395,594
Intangible assets	9	14,508	20,725
Equity instruments at FVOCI	10	20,079,665	20,079,665
Other financial assets	11	8,081,084	10,851,052
Total non-current assets		63,029,173	63,995,957
Current assets
Inventories, net	12	5,967,046	5,479,481
Trade and other receivables	13	15,108,771	13,031,556
Availabilities in cash pooling system	19	47,308,616	47,109,341
Other current assets	14	1,009,438	1,018,381
Collateral cash for guarantee letters	15.1	132,342	1,203,143
Cash and deposits	15	1,720,602	298,005
Total current assets		71,246,815	68,139,907
Total assets		134,275,988	132,135,864
Capital and reserves Capital
Share capital, of which:		28,557,446	28,557,446
Subscribed and paid in share capital	16.1	27,819,090	27,819,090
Share capital adjustments	16.2	738,356	738,356
Legal reserves		5,563,818	5,563,818
Other reserves		33,837,980	33,837,979
Retained earnings		12,854,944	12,854,944
Retained earnings IFRS transition		18,041,378	18,041,378
Current result		1,694,985	10,237,307
Total equity		100,550,551	109,092,873
Long-term liabilities Employee benefits liabilities		1,026,441	1,249,466
Deferred tax liabilities		2,599,476	2,599,476
Lease liabilities	17.2	3,427,538	3,603,822
Other liabilities		87,083	73,635
Total long-term liabilities		7,140,538	7,526,399
Current liabilities
Trade and other payables	18	23,199,817	12,073,500
Income tax payable		387,506	874,108
Lease liabilities	17.2	2,997,576	2,568,984
Total current liabilities		26,584,899	15,516,592
Total liabilities		33,725,437	23,042,991
Total equity and liabilities		134,275,988	132,135,864

Administrator, Prepared by,

FLOREA Georgian Stefan MOISE Luiza-Roxana

Signature Signature

ROMPETROL WELL SERVICES SA STATEMENT OF CHANGES IN EQUITY UNAUDITED For the period ended as at 30 June 2025

(all amounts expressed in Lei ("RON"), unless otherwise specified)

For the period ended as at 30 June 2025	Share capital	Legal reserves	Other reserves	Retained earnings	Retained earnings IFRS transition	Current result	Total equity
Balance at 1 January 2025	28,557,446	5,563,818	33,837,979	12,854,944	18,041,378	10,237,307	109,092,873
Profit for the year	-	-	-	-	-	1,694,985	1,694,985
Other comprehensive income	-	-	-	-	-	-	-
Remeasurement of fair value of financial assets measured at fair value
through other comprehensive income	-	-	-	-	-	-	-
Actuarial gain / (losses) relating to retirement benefits	-	-	-	-	-	-	-
Total comprehensive income	-	-	-	-	-	-	-
Profit distribution	-	-	-	10,237,307	-	(10,237,307)	-
Dividends	-	-	-	(10,237,307)	-	-	(10,237,307)
Balance at 30 June 2025	28,557,446	5,563,818	33,837,979	12,854,944	18,041,378	1,694,985	100,550,551
For the period ended as at 30 June 2024	Share capital	Legal reserves	Other reserves	Retained earnings	Retained earnings IFRS transition	Current result	Total equity
Balance at 1 January 2024	28,557,446	5,563,818	30,796,597	12,854,944	18,041,378	11,767,863	107,582,046
Profit for the year	-	-	-	-	-	4,126,252	4,126,252
Other comprehensive income	-	-	-	-	-	-	-
Remeasurement of fair value of financial assets measured at fair value through other comprehensive income	-	-	-	-	-	-	-
Actuarial gain / (losses) relating to retirement benefits	-	-	-	-	-	-	-
Total comprehensive income	-	-	-	-	-	-	-
Profit distribution	-	-	-	11,767,863	-	(11,767,863)	-
Dividends	-	-	-	(11,767,863)	-	-	(11,767,863)
Balance at 30 June 2024	28,557,446	5,563,818	30,796,597	12,854,944	18,041,378	4,126,252	99,940,435

Administrator, Prepared by, FLOREA Georgian Stefan MOISE Luiza-Roxana

Signature Signature

ROMPETROL WELL SERVICES SA STATEMENT OF CHANGES IN EQUITY UNAUDITED For the period ended as at 30 June 2025 (all amounts expressed in Lei ("RON"), unless otherwise specified)

The legal reserve is in amount of RON 5,563,818 (2024: RON 5,563,818). The company constituted the legal reserve in accordance with the provisions of the Romanian trading companies law, which requires at least 5% of the annual company's profit before tax to be transferred to legal reserve until the ending balance of this reserve reaches 20% of the company's share capital.

Other reserves represent reserves constituted on the basis of mandatory legislation, respectively reserves for elements of other comprehensive income as well as other capital reserves:

Retained earnings represent reserves constituted through the distribution of prior year profits, respectively the cover of prior year losses.

Retained Earnings IFRS transition represent the retained earnings constituted on the first adoption of IAS, less IAS 29, as well as adoption of other mandatory IFRSs.

During the General Ordinary Meeting of the Shareholders from 28 April 2025, it was decided the distribution of dividends in gross amount of RON 10,237,307.

Administrator, Prepared by, FLOREA Georgian Stefan MOISE Luiza-Roxana

Signature Signature

Finance Manager

Explanatory notes from 1 to 21 are part of these financial statements.

ROMPETROL WELL SERVICES SA STATEMENT OF CASH FLOW UNAUDITED For the period ended as at 30 June 2025

(all amounts expressed in Lei ("RON"), unless otherwise specified)

Indirect method

Name of item Note		30 June 2025	30 June 2024
Cash flows from operating activities:
Net profit before tax		2,059,124	4,831,746
Adjustments for:
Depreciation related to tangible assets and investment properties	7, 8	1,664,148	1,574,739
Depreciation related to right of use assets	17.1	844,787	808,627
Amortization related to intangible assets	9	6,217	23,007
Impairment related to tangible assets and investment properties	7	-	-
Provisions for post-employment benefits plans and other provisions Provision for inventory	12	(223,025) -	(157,681) -
Allowance for trade and other receivables	13	(145,288)	8,692
Trade receivables and sundry debtors write off	3.3	2,715	-
Earnings from debts write-off (unclaimed dividends)	3.1	-	-
Interest income	4.1	(1,915,757)	(2,114,223)
Interest expense	4.2	169,772	267,220
Net foreign exchange differences		162,626	13,999
Loss / (gain) from disposal of property, plant and equipment		(8,502)	(59,065)
Operating profit before working capital changes		2,616,817	5,197,060
(Increase) / Decrease of guarantees letters		3,840,769	(3,122,051)
(Increase) / Decrease of trade and other receivables		(1,908,984)	(474,840)
(Increase) / Decrease of inventories		(487,565)	784,032
Increase / (Decrease) of trade and other payables		910,341	1,760,681
Payments of interest portion of lease liabilities	17.2	(169,773)	(267,058)
Paid income tax Net cash flow from operating activities		(850,741) 3,950,864	(631,365) 3,246,459
Cash flows from investing activities:
Purchase of tangible and intangible assets		(2,847,842)	(727,561)
Proceeds from sale of tangible and intangible assets		33,000	70,351
(Increase) / Decrease of cash pooling balance		(149,122)	(2,579,748)
Interest received		1,865,604	2,109,378
Net cash from investing activities		(1,098,360)	(1,127,580)
Cash flows from financing activities:
Payments of principal portion of lease liabilities		(1,394,186)	(1,327,693)
Proceeds from sale of financial assets		-	-
Dividends paid to equity holders		(35,720)	(98,333)
Net cash flows from financing activities		(1,429,906)	(1,426,026)
Net (decrease) / increase of cash and cash equivalents Net foreign exchange differences		1,423,027 (428)	692,665 189
Cash and cash equivalents at the beginning of the financial year		298,005	648,543
Cash and cash equivalents at the end of the financial year		1,720,602	1,341,396

Administrator, Prepared by, FLOREA Georgian Stefan MOISE Luiza-Roxana

Signature Signature

1. INFORMATION ON THE ENTITY, ACCOUNTING POLICIES

Rompetrol Well Services SA ("the Company") is a stock company, registered office located in Ploiesti, Clopotei Street, No. 2 bis, Romania. The Company is registered with the Trade Register under the number J1991000110297.

It was turned into a joint-stock company named SC PETROS SA based on the Government Decision no. 1213 of November 1990, under the Law 15/1990, and operated under such name until September 2001 when its name was changed into ROMPETROL WELL SERVICES SA.

The Company is part of the KazMunayGas International Group. The annual consolidated financial statements are prepared at the level of the parent company, KMG International NV, with the head office located in Strawinskylaan 1571, Tower Ten, 17th Floor, 1077 XX, Amsterdam, The Netherlands.

The ultimate parent of KazMunayGas International is the National Wealth Fund JSC "Samruk-Kazyna", an entity based in Kazakhstan.

The company's scope of business mainly consists of: special well operations, rent of special well tools and devices, other services provision. The Company provides services for both domestic and foreign markets. Its long history in both the domestic and the foreign oil industry makes it a competitive, reliable and serious partner for a large range of services:

• Primary and secondary cementing;
• Acidizing and cracking services;
• Sand-Control services (reinforcement and packing);
• Well nitrogen treatment services;
• Well testing services;
• Well lining services;
• Drilling tools and instrumentation rental services.

These interim stand-alone financial statements are public and available on https://rompetrolwellservices.kmginternational.com/, on Investor Relations section.

1.1. BASIS FOR THE PREPARATION OF THE FINANCIAL STATEMENTS

Starting with 31 December 2012, the financial statements of the Company are prepared in accordance with the Order no. 1286/2012 of the Ministry of Public Finance, the latest regulation being Order no. 2844/2016 of the Ministry of Public Finance, approving the accounting regulations compliant with the International Financial Reporting Standards applicable to companies whose securities are admitted to trading on a regulated market. Such provisions are aligned with the requirements of the IFRS accounting standards, as issued by the International Accounting Standards Board (IASB), except for the provisions of IAS 21 - The Effects of Changes in Foreign Exchange Rates regarding the functional currency.

In order to prepare these financial statements, pursuant to the Romanian legal requirements, the functional currency of the Company is deemed to be the Romanian Leu (RON).

The financial statements of the Company are based on the historical cost principle, except for equity investments measured as fair value through other comprehensive income. The stand-alone financial statements are presented in RON and all amounts are rounded up in RON unless otherwise specified.

The financial statements of the Company are prepared based on the going concern principle.

1. INFORMATION ON THE ENTITY, ACCOUNTING POLICIES (continued)

1.2. MATERIAL ACCOUNTING PRINCIPLES, POLICIES AND METHODS

a) The going concern principle

The financial statements of the Company were drawn up based on the principle of continuity of activity. The management of the company considers that there are no material uncertainties that could raise significant doubts about this assumption. The management formed a judgment according to which there is a reasonable expectation that the Company has adequate resources to continue the operational activity for the foreseeable future and not less than 12 months from the date of approval of financial statements.

The current existing regulations on climate changes does not have a direct impact on the activities of the Company. However, the Company considered the global requirements to reduce the level of CO2 emissions, and incorporated this requirements in the investments program. Thus, equipment acquired comply with the latest standards regarding CO2 emissions. The thermal engines used by machines in daily operations are in accordance with the European legislation regarding emissions.

Despite the constantly changing market conditions, the Company has managed to secure its leading position in the specific market segment through diversity and flexibility in offering specialized services tailored for each individual client, providing a wide range of services for oil and natural gas wells (cementing, stimulation, well casing operations, etc.). It is estimated that during the year 2025 the Company will register a level of sales similar to 2024.

The impact from the change in the macroeconomic environment (i.e. interest rate increase, increased inflation rate) was considered in the approved business plan which shows a constant level of profitability.

The military conflict between Russia and Ukraine as well as the conflict in Middle East, created the base for an inherent risk of supply chain disturbances for the Company and a continuous impact on the European and global economies through financial markets volatility, inflation and exchange rate depreciation pressure. The Company does not have direct exposure to the impacted areas since its main operations and its main customers activate only on the local market. However, the impact on the general economic situation may require revisions of certain assumptions and estimates.

Considering all the above as well as next year cash flow projections based on existing and renewed commercial contracts, the financial statements of the Company were prepared based on the going concern principle.

1. INFORMATION ON THE ENTITY, ACCOUNTING POLICIES (continued)

b) Foreign Currency Transactions

Transactions in foreign currencies are initially recorded by the Company at their respective functional currency spot rate at the date the transaction first qualifies for recognition. Monetary assets and liabilities denominated in foreign currencies are retranslated at the functional currency spot rate of exchange ruling at the reporting date.

Differences arising on settlement or translation of monetary items are recognised in profit or loss. Nonmonetary items that are measured in terms of historical cost in a foreign currency are translated using the exchange rates as at the dates of the initial transactions. Non-monetary items measured at fair value in a foreign currency are translated using the exchange rates at the date when the fair value is determined. The gain or loss resulted from the re-conversion of non-monetary items is treated in line with the recognition of gain or loss upon the change in fair value (i.e., the exchange rate differences on items whose fair value gain or loss is recognised in Other elements of global earnings, or the profit or loss are also recognised in Other elements of global earnings, profit or loss, respectively).

The exchange rates used to translate the balances denominated in foreign currency as at 30 June 2025 were, for RON:

	30 June 2025	31 December 2024
1 EUR	5.0777	4.9741
1 USD	4.3329	4.7768

c) Financial instruments

A financial instrument is any contract which produces a financial asset for a company and a financial liability or equity instrument for another entity. The Company's financial assets include cash and cash equivalents, trade receivables and other receivables (including loans to related parties) and financial investments. The Company's financial liabilities include trade liabilities and other liabilities. The accounting policies for the recognition and measurement of each item are described in this Note.

Initial and subsequent measurement

Financial assets and liabilities are initially measured at fair value. Transaction costs which are directly attributable to acquisition or issuance of financial assets and liabilities (other than financial assets and financial liabilities at fair value through profit or loss) are added at initial recognition or deducted from the fair value of respective financial asset or liability, if applicable.

Financial assets are classified, at initial recognition, as subsequently measured at amortized cost, fair value through other comprehensive income (OCI), or fair value through profit or loss.

The classification of financial assets at initial recognition depends on the financial asset's contractual cash flow characteristics and the Company's business model for managing them. With the exception of trade receivables that do not contain a significant financing component or for which the Company has applied the practical expedient, the Company initially measures a financial asset at its fair value plus, in the case of a financial asset not at fair value through profit or loss, transaction costs. Trade receivables that do not contain a significant financing component or for which the Company has applied the practical expedient are measured at the transaction price determined under IFRS 15.

In order for a financial asset to be classified and measured at amortized cost or fair value through OCI, it needs to give rise to cash flows that are 'solely payments of principal and interest (SPPI)' on the principal amount outstanding.

1. INFORMATION ON THE ENTITY, ACCOUNTING POLICIES (continued)

The Company's business model for managing financial assets refers to how it manages its financial assets in order to generate cash flows. The business model determines whether cash flows will result from collecting contractual cash flows, selling the financial assets, or both. The company measures financial assets at amortized cost, except for fair value of equity instruments in relation to investments in Rompetrol Rafinare SA and Rompetrol Logistics SRL which are measure at fair value through other comprehensive income.

Purchases or sales of financial assets that require delivery of assets within a time frame established by regulation or convention in the market place (regular way trades) are recognized on the trade date, i.e., the date that the Company commits to purchase or sell the asset.

Financial liabilities are classified as subsequently measured at amortized cost.

For purposes of subsequent measurement, the company's specific financial assets and liabilities are classified in three categories:

• Financial asset measured at amortized cost (Receivables and loans granted); and
• Trade payables and other liabilities at amortised cost;
• Financial assets measured at fair value through other comprehensive income (Financial assets, Note 1h).

Receivables and loans

This category is the most relevant to the Company. Receivables and loans are non-derivative financial assets with fixed or determinable payments that are not quoted in an active market. After initial measurement, such financial assets are subsequently measured at amortized cost using the effective interest rate (EIR) method, less impairment. Amortized cost is calculated taking into account any discount or premium on acquisition and any fees or costs that are an integral part of the EIR. The EIR amortization is included in finance income in the statement of profit or loss. The losses arising from impairment are recognized in the statement of profit or loss in finance costs for loans and in cost of sales or other operating expenses for receivables.

Trade payables and other liabilities

Trade payables and other liabilities are subsequently measured at amortized cost, using the effective interest rate. The effective interest method is a method to calculate the amortized cost of a financial liability and to allocate interest expenses from the relevant period. The effective interest rate is the rate that exactly discounts the estimated future cash payments over the expected life of the financial liability (including all paid or received commissions which are part of the effective interest rate, transaction costs and other bonuses or discounts) or (if the case) on a shorter period, to the net carrying amount from the initial recognition.

Derecognition

A financial asset is primarily derecognised when:

• The rights to receive cash flows from the asset have expired; or
• The Company has transferred its rights to receive cash flows from the asset or has assumed an obligation to pay the received cash flows in full without material delay to a third party under a 'pass-through' arrangement; and either (a) the Company has transferred substantially all the risks and rewards of the asset, or (b) the Company has neither transferred nor retained substantially all the risks and rewards of the asset, but has transferred control of the asset.

1. INFORMATION ON THE ENTITY, ACCOUNTING POLICIES (continued)

When the Company has transferred its rights to receive cash flows from an asset or has entered into a pass-through arrangement, it evaluates if, and to what extent, it has retained the risks and rewards of ownership. When it has neither transferred nor retained substantially all of the risks and rewards of the asset, nor transferred control of the asset, the Company continues to recognise the transferred asset to the extent of its continuing involvement. In that case, the Company also recognises an associated liability. The transferred asset and the associated liability are measured on a basis that reflects the rights and obligations that the Company has retained.

A financial liability is derecognised when the obligation under the liability is discharged or cancelled or expires. When an existing financial liability is replaced by another from the same lender on substantially different terms, or the terms of an existing liability are substantially modified, such an exchange or modification is treated as the derecognition of the original liability and the recognition of a new liability. The difference in the respective carrying amounts is recognised in the statement of profit or loss.

Offsetting of financial instruments

Financial assets and financial liabilities are offset and the net amount is reported in the statement of financial position if there is a currently enforceable legal right to offset the recognised amounts and there is an intention to settle on a net basis, to realise the assets and settle the liabilities simultaneously.

d) Impairment of financial assets

The Company recognizes an allowance for expected credit losses (ECLs) for debt instruments not held at fair value through profit or loss. ECLs are based on the difference between the contractual cash flows due in accordance with the contract and all the cash flows that the Company expects to receive, discounted at an approximation of the original effective interest rate.

ECLs are recognised in three stages. For credit exposures for which there has not been a significant increase in credit risk since initial recognition, ECLs are provided for credit losses that result from default events that are possible within the next 12-months (a 12-month ECL). For those credit exposures for which there has been a significant increase in credit risk since initial recognition, a loss allowance is required for credit losses expected over the remaining life of the exposure, irrespective of the timing of the default (a lifetime ECL).

For trade receivables and contract assets, the Company applies a simplified approach in calculating ECLs. Therefore, the Company does not track changes in credit risk, but instead recognizes a loss allowance based on lifetime ECLs at each reporting date. The Company has established a provision matrix that is based on its historical credit loss experience, adjusted for forward-looking factors specific to the debtors and the economic environment.

The Company considers a financial asset in default when contractual payments are 90 days past due. However, in certain cases, the Company may also consider a financial asset to be in default when internal or external information indicates that the Company is unlikely to receive the outstanding contractual amounts in full before taking into account any credit enhancements held by the Company. A financial asset is written off when there is no reasonable expectation of recovering the contractual cash flows.

e) Property, plant and equipment

Property, plant and equipment are stated at cost less cumulative depreciation and, if the case, less loss from impairment, in the financial statements of the Company.

1. INFORMATION ON THE ENTITY, ACCOUNTING POLICIES (continued)

The initial cost of property, plant and equipment comprises its purchase price, including import duties and non-refundable purchase taxes and any directly attributable costs of bringing the asset to its working condition and location for its intended use. Expenditures incurred after the assets have been put to operation, such as repairs and maintenance are charged to the profit and loss statement in the period in which the costs are incurred. In cases where it can be proved that expenses have increased the future economic benefits obtained from the use of intangible assets besides the standard evaluation of its performance, the expenditure is capitalized as additional costs of the property, plant and equipment.

Construction in progress represents plant and properties under construction and is stated at cost, less any impairment loss. This includes the cost of construction and other direct costs. Depreciation of these and other assets is registered starting with the date when they are ready to be used for the activity they are intended for.

Depreciation for property, plant and equipment except land and construction in progress is computed using the straight-line method over the following estimated useful lives:

	Years
Buildings and other constructions	5 - 60
Machinery and other equipment	3 - 27
Vehicles	3 - 15

The useful life and methods of depreciation of tangible assets are revised at each financial year end and adjusted prospectively if the case.

When assets are sold or disposed of, their cost and related accumulated depreciation are removed and any income or loss resulting from their output is included in the profit or loss account.

f) Investment property

Investment properties are measured initially at cost, including transaction costs. Subsequent to initial recognition, investment properties are disclosed at their historical cost less the provisions for depreciation and impairment. Depreciation of investment properties is computed using straight-line method through their useful life of between 35 and 40 years.

For the purpose of disclosure of fair values are consequently assessed by an accredited external, independent valuator, by applying a valuation model recommended by the International Valuation Standards Committee. The revaluation is performed at least every 3 years. For more details, please refer to Note 8.

Investment properties are derecognised when either they have been disposed of or when the investment property is permanently withdrawn from use and no future economic benefit is expected from its disposal.

The difference between the net disposal proceeds and the carrying amount of the asset is recognised in the income statement in the period of derecognition.

1. INFORMATION ON THE ENTITY, ACCOUNTING POLICIES (continued)

g) Intangible assets

Intangible assets are measured initially at cost. Intangible assets are recognized if it is probable that the future economic benefits attributable to the asset will flow to the enterprise and the cost of the asset can be measured reliably. After the initial recognition, intangible assets are measured at cost less the accumulated amortization and any accumulated impairment losses. Intangible assets are amortized on a straight-line basis over the best estimate of their useful lives:

• Intangible assets consist mainly of software and licenses and are amortized on a straight-line basis over 3 to 5 years;
• The carrying amount of each intangible asset is reviewed annually and adjusted for impairment where it is considered necessary. External and internal costs specifically associated with the maintenance of already existing computer software programmers are expensed as incurred.

h) Equity instruments at FVOCI

Equity instruments at FVOCI represent strategic long term investments and are recorded at fair value through other comprehensive income.

Dividends received from entities in which the Company has shares are recognized in profit and loss account of the year when the right of the Company to collect dividends is established and it is probable that they will be collected.

The changes in fair value are recognized in other elements of the comprehensive income until the investment is derecognized or depreciated, moment when the cumulative gain or losses are reclassified from other comprehensive income in the retained earnings account for the respective period.

Fair value is the price received from selling an asset or the price paid to transfer a liability in a normal transaction between market participants, at the date of the valuation.

Valuation at fair value implies that the asset is exchanged in a normal transaction for the sale of the asset or transfer of the debt, between market participants, at the valuation date, under current market conditions. In a valuation at fair value it is assumed that the transaction of sale of the asset takes place either:

• on the main market of the asset, or

• in the absence of a main market, on the market most advantageous for the asset.

The valuation at fair value of an asset is based on the assumption that market participants would use when determining the value of the asset, assuming that market participants act to obtain maximum economic benefit.

The Company uses valuation techniques appropriate to the circumstances and for which there are available sufficient data for fair value valuation, using to the maximum the relevant observable input data and minimizing the unobservable input data used.

The financial assets that are the object of valuation at fair value are classified within the fair value hierarchy, based on the input data, which is the necessary basis for selecting and using the necessary approach for its reliable determination. The data entry hierarchy consists of three levels:

• (i) Level 1 prices quotations (unadjusted) on active markets for identical assets and liabilities, to which the entity has access to at the valuation date;
• (ii) Level 2 entry data, other than the price quotations included in level one, which are observed for assets or liabilities, either directly or indirectly;
• (iii) Level 3 non-observable entry data for assets or liabilities.

Additional details on structure of financial assets, classified according to IFRS 9 in financial assets valued at fair value through other comprehensive income, are presented in Note 10.

1. INFORMATION ON THE ENTITY, ACCOUNTING POLICIES (continued)

i) Impairment of non-financial assets

At each reporting date, the Company reviews the carrying amounts of its non-financial assets to determine whether there is any indication that those assets have undergone an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the Company estimates the recoverable amount of the cash-generating unit to which the respective asset belongs.

The recoverable amount is the higher of fair value less costs to sell and value in use. In order to determine the recoverable amount of property, plant and equipment, the Company uses value in use, this being assessed based on estimated future cash flows that are discounted to their present value using a pre-tax discount rate. The discount rate reflects current market assessments of time value of money and risks specific to the asset for which the estimates of future cash flows have not been adjusted already.

The current existing legislation on climate changes does not have a direct impact on the activities of the Company. However, the Company considered the global requirements to reduce the level of CO2 emissions, and incorporate these requirements in the investments programs. Thus, equipment acquired comply with the latest standards regarding CO2 emissions. The thermal engines used by machines in daily operations are in accordance with the European legislation regarding emissions.

The company bases its impairment computation on detailed budgets and forecast calculations which cover a period of 7 years considering the average remaining useful life of specialized assets used by the Company. A long-term growth rate is calculated and applied to the future cash flows determined based on the company's budgets and forecasts.

If the recoverable amount of an asset (or cash-generating unit) is estimated to be less than its carrying amount, the carrying amount of the assets (or cash-generating unit) is reduced to its recoverable amount. Impairment losses are recognized as an expense immediately, unless the relevant asset is stated at its revalued amount, in which case the impairment loss is treated as a revaluation decrease.

When an impairment loss is reversed, the carrying amount of the asset (cash-generating unit) is increased to the revised estimate of its recoverable amount, but so that the increased carrying amount does not exceed the carrying amount that would have been determined if no impairment loss had been recognized for the asset (cash-generating unit) in prior years.

j) Provisions

Provisions are recognized when the Company has a present obligation (legal or constructive) as a result of a past event, it is probable that an outflow of resources embodying economic benefits will be required to settle the obligation and a reliable estimate can be made of the amount of the obligation. Where the Company expects a provision to be reimbursed partially or totally, the reimbursement is recognized as a separate asset, but only when the reimbursement is certain. The expense related to any provision is presented in the profit and loss statement net of any reimbursement. If the effect of the time value of money is material, the provisions are discounted using a current pre-tax rate that reflects, where appropriate, the risks specific to the liability. When discounting is used, the increase in the provision due to the passage of time is recognized as interest cost.

Provisions are not recognized for future operating losses.

Provisions are measured at the present value of management's best estimate of the expenditure required to settle the present obligation at the reporting date. The discount rate used to determine the present value reflects current market assessments of the time value of money and the risks specific to the liability.

1. INFORMATION ON THE ENTITY, ACCOUNTING POLICIES (continued)

k) Leases

The Company assesses at contract inception whether a contract is, or contains, a lease. That is, if the contract conveys the right to control the use of an identified asset for a period of time in exchange for consideration.

Company as a lessee

The Company applies a single recognition and measurement approach for all leases, except for shortterm leases and leases of low-value assets. The Company recognises lease liabilities to make lease payments and right-of-use assets representing the right to use the underlying assets.

i) Right-of-use assets

The Company recognises right-of-use assets at the commencement date of the lease (i.e., the date the underlying asset is available for use). Right-of-use assets are measured at cost, less any accumulated depreciation and impairment losses, and adjusted for any remeasurement of lease liabilities. The cost of right-of-use assets includes the amount of lease liabilities recognised, initial direct costs incurred, and lease payments made at or before the commencement date less any lease incentives received. Right-ofuse assets are depreciated on a straight-line basis over the shorter of the lease term and the estimated useful lives of the assets, as follows:

► Machinery	10 years
► Other equipment	3 – 5 years

ii) Lease liabilities

At the commencement date of the lease, the Company recognises lease liabilities measured at the present value of lease payments to be made over the lease term. The lease payments include fixed payments (including in-substance fixed payments) less any lease incentives receivable, variable lease payments that depend on an index or a rate, and amounts expected to be paid under residual value guarantees. The lease payments also include the exercise price of a purchase option reasonably certain to be exercised by the Company and payments of penalties for terminating the lease, if the lease term reflects the Company exercising the option to terminate.

Variable lease payments that do not depend on an index or a rate are recognised as expenses (unless they are incurred to produce inventories) in the period in which the event or condition that triggers the payment occurs.

In calculating the present value of lease payments, the Company uses its incremental borrowing rate at the lease commencement date because the interest rate implicit in the lease is not readily determinable. After the commencement date, the amount of lease liabilities is increased to reflect the accretion of interest and reduced for the lease payments made. In addition, the carrying amount of lease liabilities is remeasured if there is a modification, a change in the lease term, a change in the lease payments (e.g., changes to future payments resulting from a change in an index or rate used to determine such lease payments) or a change in the assessment of an option to purchase the underlying asset.

iii) Short-term leases and leases of low-value assets

The Company applies the short-term lease recognition exemption to its short-term leases of machinery and equipment (i.e., those leases that have a lease term of 12 months or less from the commencement date and do not contain a purchase option).. Lease payments on short-term leases are recognised as expense on a straight-line basis over the lease term.

1. INFORMATION ON THE ENTITY, ACCOUNTING POLICIES (continued)

Company as lessor

Leases in which the Company does not transfer substantially all the risks and rewards incidental to ownership of an asset are classified as operating leases. Rental income arising is accounted for on a straight-line basis over the lease terms and is included in revenue in the statement of profit or loss due to its operating nature. Initial direct costs incurred in negotiating and arranging an operating lease are added to the carrying amount of the leased asset and recognised over the lease term on the same basis as rental income. Contingent rents are recognised as revenue in the period in which they are earned.

l) Inventories

Inventories are valued at the lower of cost and net realizable value. Net realizable value is the estimated selling price in the ordinary course of business, less the estimated costs of completion and the estimated costs necessary to make the sale. Cost comprises the acquisition cost and other costs that have been incurred in bringing the inventories to their present location and condition and is determined by weighted average method for all the inventories.

m) Cash and cash equivalents

Cash includes petty cash, cash at banks and cheques in course of being cashed. Cash equivalents are short-term, highly liquid investments that are readily convertible to known amounts of cash in less than three months to maturity from the date of acquisition and that are subject to an insignificant risk of devaluation.

n) Revenue from contracts with customers

Revenue is recognised at the level of consideration to which the Company expects to be entitled in exchange for transferring goods or services to a customer, excluding amounts collected on behalf of third parties. The revenue is recognised when the Company satisfies a performance obligation by transferring a promised good or service (i.e. an asset) to a customer. An asset is transferred when the customer obtains control of that asset. The Company assesses its revenue arrangements against specific criteria in order to determine if it is acting as principal or agent. The Company has concluded that it is the principal in its revenue arrangements because it typically controls the goods or services before transferring them to the customer.

The Company's business model establish the identification of performance obligations as the written requests of clients, which represent the commitment to purchase goods or services, based on the framework contract.

The Company has framework agreements concluded with customers, services provided/merchandise sold being made based on purchase order. The Company has assessed, by type of contract, the goods and/or services promised in each type of contract and has identified the following contracts as separate performance obligations (POs):

• contracts for well services: specific well operation to a specific defined well.
• Other segments: rental (distinct space and vehicle), ITP services (specific vehicle verification) and other merchandise (distinct goods).

1. INFORMATION ON THE ENTITY, ACCOUNTING POLICIES (continued)

The transaction price is the client's promise to pay in cash a fixed amount of the consideration. The company analyzed the transaction price and concluded that it did not include a significant financing component or a variable component.

The company has determined for each performance obligation identified at the beginning of the contract whether it will be fulfilled over time or at a specific time. The company collects commercial receivables within 30 - 90 days..

In case of contracts for well services, the performance obligation is fulfilled when the job ticket is approved by the customer's representative, this being the moment of the well work finalization.

In case of contracts concluded for other revenue segments (i.e. space rental, ITP services), performance obligation is fulfilled when the service is provided.

o) Retirement benefit costs

Payments made to state - managed retirement benefit schemes are dealt with as defined contribution plans where the Company pays fixed contributions into the state-managed fund and has no legal or constructive obligation to pay further contributions if the fund does not hold sufficient assets to pay all employee benefits relating to employee service in the current and prior period. The contributions are charged as an expense in the same period when the employee service was rendered.

Under the provisions of the collective labor agreement, employees are entitled to specified retirement benefits, payable on retirement, if they are employed with the Company at the date of their retirement. These amounts are estimated as of the reporting date and the measurement process applied is subject to uncertainty. The retirement benefit is determined through a measurement technique applied judgments and estimates such as applicable benefits provided in the agreement, the Company headcount and specific actuarial estimates such as discount rate, price inflation and key demographic figures like mortality rates.

The defined benefit liability as of reporting date comprises the estimated present value of the defined benefit obligation and while the related current year service cost recorded in the profit and loss statement. All actuarial gains and losses are fully recognized in other comprehensive income in the period in which they occur. Actuarial gains and losses recognized in other comprehensive income are presented in the statement of comprehensive income.

The Company has no other liabilities with respect to future pension benefits, health and other costs for its employees.

p) Taxes

• Current income tax

Current income tax assets and liabilities for the current and prior periods are measured at the amount expected to be recovered from or paid to the tax authorities. The tax rates and tax laws used to compute the amount are those that are enacted or substantively enacted, by the reporting date, in the countries where the Company operates and generates taxable income.

Current income tax relating to items recognized directly in equity is recognized in equity and not in the profit and loss statement. Management periodically evaluates positions taken in the tax returns with respect to situations in which applicable tax regulations are subject to interpretation and establishes provisions where appropriate.

1. INFORMATION ON THE ENTITY, ACCOUNTING POLICIES (continued)

- Deferred tax

Deferred tax is recorded using the liability method on temporary differences at the reporting date between the tax bases of assets and liabilities and their carrying amounts for financial reporting purposes.

Deferred tax liabilities are recognized for all taxable temporary differences, except:

• ► Where the deferred tax liability arises from the initial recognition of an asset or liability in a transaction that is not a business combination and, at the time of the transaction, affects neither the accounting profit nor taxable profit or loss.
• ► The deductible temporary differences associated with investments in subsidiaries and related parties and interests in joint ventures when the reversal of such temporary differences can be controlled and likely not to be reversed in the foreseeable future.

Deferred tax assets are recognized for all deductible temporary differences, carry forward of unused losses and tax credits, to the extent that it is probable that taxable profit will be available against which the deductible temporary differences, and the carry forward of unused tax credits and unused tax losses can be utilized except:

• ► Where the deferred tax asset arises from the initial recognition of an asset or liability in a transaction that is not a business combination and, at the time of the transaction, affects neither the accounting profit nor taxable profit or loss.
• ► In case of deductible temporary differences associated with investments in subsidiaries and related parties and interests in joint ventures, the deferred tax asset is recognised only when the temporary differences are likely to be reversed in a foreseeable future and when there can be a taxable profit for which temporary differences may be used.

The carrying amount of deferred tax assets is reviewed at each balance sheet date and reduced consequently to the extent that it is no longer probable that sufficient taxable profit will be available to allow all or part of the deferred tax asset to be utilized. Unrecognized deferred tax assets are reassessed at each reporting date and are recognized to the extent that it has become probable that future taxable profits will allow the deferred tax asset to be recovered.

Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the year when the asset is realized or the liability is settled, based on tax rates (and tax laws) that have been enacted or substantively enacted until the end of the reporting period.

Deferred tax relating to items recognized outside the profit and loss statement is recognized outside the profit or loss account. Deferred tax items are recognized depending on the nature of the underlying transaction either in other comprehensive income or directly in equity.

Deferred tax assets and deferred tax liabilities are offset, if a legally enforceable right exists to set off current tax assets against current income tax liabilities and the deferred taxes relate to the same taxable entity and are collected by the same tax authority.

• Value added tax related to revenue

Revenues, expenses and assets are recognized net of the amount of sales tax except:

• ► Where the sales tax incurred on a purchase of assets or services is not recoverable from the tax authority, in which case the sales tax is recognized as part of the acquisition cost of the asset or as part of the expense item as the case may be.
• ► Receivables and payables whose taxes are included in their amount.

The net amount of value added tax recoverable from, or payable to, the tax authority is included in the receivables or payables in the balance sheet.

1. INFORMATION ON THE ENTITY, ACCOUNTING POLICIES (continued)

q) Dividends

Dividends are recorded in the year in which they are approved by the shareholders.

r) Contingent assets and liabilities

Contingent liabilities are not recognized in the financial statements. They are however disclosed unless the possibility of an outflow of resources embodying economic benefits is remote.

Contingent assets are not recognized in the financial statements but disclosed when an inflow of economic benefits is probable.

1.3. SIGNIFICANT ACCOUNTING JUDGMENTS, ESTIMATES AND ASSUMPTIONS

The preparation of the Company's stand-alone financial statements requires the management to make judgments, estimates and assumptions that affect the reported amounts of revenues, expenses, assets and liabilities, and the disclosure of contingent liabilities, at the balance sheet date. The estimates and associated assumptions rely on the historical experience and other factors that are considered to be relevant. However, uncertainty about these assumptions and estimates could result in outcomes that require an adjustment to the carrying amount of the assets or liabilities in the future periods.

The estimates and assumptions that accounting judgements rely on are subject to constant review. Revisions to accounting estimates are recognized in the period in which the estimate is revised if such revision only affects that period or in the period of the revision and future periods if such revision affects both current and future periods.

1.4 CHANGES IN ACCOUNTING POLICY AND DISCLOSURES

The accounting policies adopted are consistent with those of the previous financial year. The amendments with an application date starting with January 1, 2025 do not have a material impact on the interim financial statements.

2. REVENUE FROM CONTRACTS WITH CUSTOMERS

Below there is an analysis of Company's revenues:

	Sales in H1 2025	Sales in H1 2024
Revenue from well services	31,986,406	36,204,701
Revenue from other services	64,585	60,991
Revenue from goods sold	53,771	27,327
Total	32,104,762	36,293,019

2. REVENUE FROM CONTRACTS WITH CUSTOMERS (continued)

	Sales in H1 2025	Sales in H1 2024
Europe	-	1,564,391
Export	-	1,564,391
Internal market sales	32,104,762	34,728,628
Total sales	32,104,762	36,293,019

The Company analyzed the criteria for defining an operational segment according to IFRS 8 Operating segments and concluded that business is organized as single cash generating unit, with one segment, considering the nature of the services provided, the type of customers and the method used to provide services. For the purpose of making decisions about resource allocation and performance assessment, Management analyze and monitors the operating results of the business as a single segment.

2.1 RENTAL REVENUES

Below there is an analysis of Company's rental revenues:

	Sales in H1 2025	Sales in H1 2024
Rental revenue from office space	242,054	242,071
Total	242,054	242,071

The Company obtains revenues from renting office spaces. The respective contracts have 12 months term.

Contracts concluded for rental of office space include only fixed leases.

3. OTHER OPERATING INCOME AND OTHER EXPENSES

3.1. Other operating income

In the table below other operating revenues are being detailed depending on their nature:

	H1 2024
	8,210
	59,065
	-
	56,817
95,722	124,092
	H1 2025 - 8,502 24,138 63,082

3.2. Expenses with third-party services

In the table below expenses for third party services are being detailed depending on their nature:

	H1 2025	H1 2024
Travel expenses*)	720,206	1,419,539
Maintenance and repair expenses*)	775,592	904,272
Royalties and rental expenses	865,931	780,871
Insurance premiums	415,382	428,419
Postage and telecommunications	9,606	9,203
Bank commissions and similar charges	10,220	11,856
Entertaining, promotion and advertising	70,307	30,911
Goods transportation services*)	1,693,335	2,139,368
Well services rendered – by subcontractors*)	758,086	374,618
Outsourced activities services	904,239	1,206,111
Dedicated management assistance and specialized technical consulting services	709,450	940,314
Others	575,630	493,456
Security services	468,470	392,290
Consultancy and audit	74,496	67,883
Total	8,050,950	9,199,111

The weight of these expenses in the structure of the operating costs is specific to the main activity, regarding the service delivery at the headquarters of the beneficiaries with auto type equipment and the flexible adaptability to the current market conditions.

*) The highlighted expenses are directly influenced by the level and type of services rendered.

During the first quarter of 2025, the company partially subcontracted services of acidizing, hot oil pumping and nitrogen for a specific project to a third party. The value of the services performed by this subcontractor in order to fulfill the contractual obligations assumed by the Company, as a supplier, amounts to RON 758,086 for the reported period (2024: RON 374,618).

3. OTHER OPERATING INCOME AND OTHER EXPENSES (continued)

3.3. Other operating expenses

In the table below other operating expenses are being detailed depending on their nature:

	H1 2025	H1 2024
Compensations, fines, penalties	16,249	1,056
Amounts or goods granted as sponsorship	69,039	38,904
Write-off trade receivables and sundry debtors	2,715	-
Destroyed / improper stocks	-	45,277
Other operating expenses	3	2
Total	88,006	85,239

3.4. Taxes, duties and similar expenses

In the table below taxes, duties and similar expenses are being detailed depending on their nature:

H1 2025	H1 2024
	27,403
	128,636
	-
	236,707
	-
	6,588
611,051	399,334
	33,030 194,676 3,425 200,607 171,919 7,394

4. FINANCIAL EXPENSES AND REVENUES

4.1. Financial revenues

	H1 2025	H1 2024
Interest income, from which:	1,915,758	2,114,223
Income obtained from the entities within the group	1,909,542	2,105,216
Income from exchange rate differences	48,003	7,740
Other financial income	-	154
Total financial income	1,963,761	2,122,117

The line "Income obtained from the entities within the group" in amount of RON 1,909,542 (2024: RON 2,105,216) represents interest revenue from cash-pooling. For more details, including EIR please refer to Note 19.

4.2. Financial expenses

	H1 2025	H1 2024
Expenses from exchange rate differences	237,890	26,138
Other financial expenses, out of which	169,773	267,221
Interest expense on the lease liability	169,772	267,058
Total financial expenses	407,663	293,359

5. PAYROLL COSTS

The expenses with salaries and taxes, recorded during first half year of 2025 and 2024 are as follows:

	H1 2025	H1 2024
Expenses related to salaries and allowances	11,294,071	10,725,433
Other expenses with employees benefits	399,167	137,079
Contributions to special funds	135,109	110,550
Expenses related to the social insurances	255,585	246,194
Total	12,083,932	11,219,256

6. EARNINGS PER SHARE

The value of earning per share is calculated by dividing the net profit of the year attributable to shareholders by the weighted average number of shares outstanding during the period.

The following report present the net profit and the number of shares used in computing earnings per share:

	30 June 2025	30 June 2024
Net result attributable to shareholders	1,694,985	4,126,252
Weighted average number of shares	278,190,900	278,190,900
Basic earnings per share (RON / share)	0.0061	0.0148

Diluted earnings per share equal basic earnings per share.

There was no issue or cancellation of shares between the date of the report and the date of the presentation of the financial statements.

7. PROPERTY, PLANT & EQUIPMENT

		Buildings and special	Technical equipment and machinery and other tangible	Advances and Tangible assets in
	Land	constructions	assets	progress	Total
Cost
On 1 January 2024	5,438,555	8,424,900	91,129,288	403,619	105,396,360
Additions	-	-	1,314	3,788,020	3,789,334
Disposals	-	(37,248)	(4,983,578)	-	(5,020,826)
Transfers	-	474,032	1,442,447	(1,916,480)	-
On 31 December 2024	5,438,555	8,861,684	87,589,471	2,275,159	104,164,867
Additions	-	-	3,084	2,844,758	2,847,842
Disposals	-	(41,671)	(823,848)	-	(865,519)
Transfers	-	78,426	2,851,815	(2,930,241)	-
On 30 June 2025	5,438,555	8,898,439	89,620,523	2,189,675	106,147,190
Depreciation and Impairment
On 1 January 2024	-	4,038,675	79,986,636	-	84,025,312
Depreciation charge for the year	-	372,539	2,779,358	-	3,151,898
Disposals	-	(25,962)	(4,983,578)	-	(5,009,540)
Impairment	-	-	(508,671)	-	(508,671)
On 31 December 2024	-	4,385,253	77,273,745	-	81,658,999
Depreciation charge for the year	-	161,421	1,493,426	-	1,654,847
Disposals	-	(17,172)	(823,848)	-	(841,020)
Impairment	-	-	-	-	-
On 30 June 2025	-	4,529,501	77,943,323	-	82,472,825
Net book value
On 30 June 2025	5,438,555	4,368,938	11,677,200	2,189,675	23,674,365
On 31 December 2024	5,438,555	4,476,431	10,315,727	2,275,159	22,505,869
On 1 January 2024	5,438,555	4,386,224	11,142,653	403,619	21,371,048

The Company used own funds in order to finance the budgeted capital expenditure for first half year of 2025.

All presented tangible assets are the property of the Company.

As of 30 June 2025 and 31 December 2024, the Company has not pledged assets and interest rated capitalized.

As of 30 June 2025 total gross book value of property, plant and equipment items that are fully depreciated is RON 20,962,158 (2024: RON 23,106,917).

8. INVESTMENT PROPERTIES

The company has an apartment block in Campina and two apartments in Timisoara, held with the exclusive target to obtain income from rents. These are being classified as investment properties.

	30.06.2025	31.12.2024
Initial balance on 1 January	395,594	414,197
Depreciation expenses	(9,301)	(18,603)
Ending balance	386,293	395,594

8. INVESTMENT PROPERTIES (continued)

	H1 2025	H1 2024
Income from rents obtained from real estate investments Direct operational expenses (including repairs and maintenance) which generate income from rents Net result from investment property recorded at cost	8,213	8,191
	(24,662)	(18,936)
	(16,449)	(10,745)

At 30 June 2025, the fair values of the properties determined in 2022 by S.C. FairValue Consulting SRL, a recognised independent evaluator, were in amount of RON 1,800,627.

9. INTANGIBLE ASSETS

	Patents and licenses	Total
Costs
On 1 January 2024	818,918	818,918
Additions	-	-
Disposals	(83)	(83)
Transfers	-	-
On 31 December 2024	818,835	818,835
Additions	-	-
Disposals	(4,296)	(4,296)
Transfers	-	-
On 30 June 2025	814,539	814,539
Amortisation and impairment
On 1 January 2024	759,267	759,267
Depreciation charge for the year	38,927	38,927
Disposal	(83)	(83)
On 31 December 2024	798,111	798,111
Depreciation charge for the year	6,217	6,217
Disposal	(4,296)	(4,296)
On 30 June 2025	800,032	800,032
Net book value
On 30 June 2025	14,508	14,508
On 31 December 2024	20,724	20,724
On 1 January 2024	59,651	59,651

10. EQUITY INSTRUMENTS AT FVOCI

			Percent held on		Fair value of the investment on
Name of the company	Nature of the relationship	Year of investment	31 December 2024	30 June 2025	31 December 2024	30 June 2025
Rompetrol Logistics SRL	Long term investment	2002/2003/2007	6.98%	6.98%	19,159,842	19,159,842
Rompetrol Rafinare SA*	Long term investment	2003/2004	0.05%	0.05%	919,823	919,823
Total					20,079,665	20,079,665

*Company listed on Bucharest Stock Exchange under RRC symbol.

11. OTHER FINANCIAL ASSETS

	30 June 2024	31 December 2024
Collateral account for guarantee letters with maturity over one year	6,894,947	9,742,682
Specific account for dividends	1,151,641	1,073,873
Specific accounts for other guarantee	34,496	34,496
Other financial assets	8,081,084	10,851,052

The presentation of collaterals as non-current assets is made considering the initial maturity of the collateral accounts in accordance with IAS 7.

The details on the structure of collateral account for guarantee letters with maturity over one year can be found bellow (see details in Note 20):

Number	Beneficiary	Currency	Amount equivalent RON	Start date	Maturity date	Currency collateral deposit	Collateral deposit equivalent RON
LG9000021340	OMV PETROM S.A.	RON	1,272,202	23-May-24	31-Mar-27	RON	1,272,202
LG99007665	OMV PETROM S.A.	RON	18,370	18-Jan-22	30-Sep-25	RON	18,370
LG9000004272	OMV PETROM S.A.	RON	115,614	6-Jul-22	30-Jun-26	RON	115,614
LG99008693	OMV PETROM S.A.	RON		2,563,731 23-Nov-22	30-Jun-25	RON	2,563,731
LG9000007786	OMV PETROM S.A.	RON	635,167	2-Feb-23	31-Mar-28	RON	635,167
LG00888-02-
1048506	OMV PETROM S.A.	RON	255,101	9-Aug-24	30-Sep-25	RON	255,101
LG9000024179	OMV PETROM S.A.	RON		577,903 19-Aug-24	31-Dec-29	RON	577,903
LG9000024304	OMV PETROM S.A.	RON		349,220 19-Aug-24	31-Dec-28	RON	349,220
LG9000024701	OMV PETROM S.A.	RON	357,428	6-Sep-24	31-Oct-25	RON	357,428
43840	S.N.G.N. ROMGAZ S.A.	RON		750,212 23-Nov-23	4-Dec-26	RON	750,212
Total collateral accounts with maturity over one year as of 30 June 2025					6,894,947

Number	Beneficiary	Currency	Amount equivalent RON	Start date	Maturity date	Currency collateral deposit	Collateral deposit equivalent RON
LG99007664*	OMV PETROM S.A.	RON	1,219,901	18-Jan-22	31-Dec-24	RON	1,219,901
LG99007665*	OMV PETROM S.A.	RON	3,705,027	18-Jan-22	31-Dec-24	RON	3,705,027
	LG9000004272* OMV PETROM S.A.	RON	115,614	6-Jul-22	30-Jun-26	RON	115,614
LG99008693*	OMV PETROM S.A.	RON		2,554,991 23-Nov-22	13-Dec-24	RON	2,554,991
LG99008060*	OMV PETROM S.A.	RON	311,816	7-Dec-22	31-Dec-24	RON	311,816
	LG9000007786* OMV PETROM S.A.	RON	557,802	2-Feb-23	31-Mar-28	RON	557,802
LG00888-02- 1048506	OMV PETROM S.A.	RON		255,101 09-Aug-24	30-Sep-25	RON	255,101
LG9000024179*	OMV PETROM S.A.	RON		160,829 19-Aug-24	31-Dec-29	RON	160,829
LG9000024304*	OMV PETROM S.A.	RON		126,445 19-Aug-24	31-Dec-28	RON	126,445
LG9000024701*	OMV PETROM S.A.	RON	142,671	6-Sep-24	31-Oct-25	RON	142,671
43840*	S.N.G.N. ROMGAZ S.A.	RON		592,486 23-Nov-23	4-Dec-26	RON	592,486

Total collateral accounts with maturity over one year as of 31 December 2024 9,742,682

12. INVENTORIES

	30 June 2025	31 December 2024
Cement and additives	3,636,504	3,343,281
Spare parts equipment	2,026,658	1,902,762
Other inventories	303,883	233,439
Total inventories, net	5,967,046	5,479,481

The inventories mainly contain cement, additives and spare parts for special equipment. For the items whose procurement process is relatively long, as well for the items whose consumption is dependent on fluctuating demand of our customers, it is applied an optimization quantitative procurement, which explains a variation of inventory value between two acquisitions.

The presented allowance for inventories is related to obsolete and slow moving spare parts and other inventories.

	Allowance for inventories
On 1 January 2024	339,089
Additions	45,939
Used during the year	(849)
On 31 December 2024	384,179
Additions	-
Used during the year	-
On 30 June 2025	384,179

13. TRADE AND OTHER RECEIVABLES

	30 June 2025	31 December 2024
Trade receivables - third parties Trade receivables with affiliated entities (Note 19)	16,319,358 31,316	14,244,292 35,257
Allowance for trade receivables – third parties Allowance for trade receivables – affiliated entities (Note 19)	(1,314,276) -	(1,282,951) (7,732)
Total trade receivables, net	15,036,398	12,988,866
Other receivables – third parties Other receivables with the affiliated entities (Note 19)	252,022 -	231,152 154,019
Other receivables with state budget Allowance for other receivables – third parties	34,141 (213,790)	23,890 (213,790)
Allowance for other receivables – affiliated entities (Note 19)	-	(152,580)
Total other receivables, net	72,373	42,691
Total receivables, net	15,108,771	13,031,556

ROMPETROL WELL SERVICES SA NOTES TO FINANCIAL STATEMENTS UNAUDITED For the period ended as at 30 June 2025 (all amounts expressed in Lei ("RON"), unless otherwise specified)

13. TRADE AND OTHER RECEIVABLES (continued)

Trade receivables are usually collected within 30 to 90 days.

In the table below, there are detailed the movements within the provision for the impairment of trade and other receivables:

	Individually impaired	Collectively impaired	Total
On 1 January 2024	622,066	1,028,468	1,650,534
Charge for the year	3,760	13,910	17,670
Unused amounts, reversed	(3,198)	(7,875)	(11,072)
Amounts written-off	-	-	-
Exchange rate differences	-	(79)	(79)
On 31 December 2024	622,628	1,034,425	1,657,054
Charge for the year	40	21,004	21,044
Unused amounts, reversed	(164,074)	(2,259)	(166,333)
Amounts written-off	-	-	-
Exchange rate differences	-	16,301	16,301
On 30 June 2025	458,595	1,069,471	1,528,066

The impairment loss for financial assets evaluated at amortized cost are calculated based on three stage model, using swap for credit risk, internal or external ratings of counterparties and corresponding probability of default. For all trade receivables, the impairment losses are estimated based on simplified approach, recognizing anticipated losses for their entire lifetime.

Impairment losses, calculated and recognized, based on the new model required by IFRS 9 for Company's trade receivables, is presented as follows:

		Total trade receivables
At 30 June 2025	Current	< 30 days	31 – 60 days	61- 90 days	91 - 180 days	181 - 360 days	> 360 days	Total
Expected credit loss rate (%) Estimated total gross	0.63%	11.87%	22.75%	60.07%	90.00%	90.00%	100.00%
carrying amount at default Expected credit loss	14,959,664 (2,305)	32,953 (1,386)	8,850 (1,557)	6,544 (3,931)	21,470 (15,408)	8,453 (1,718)	1,312,740 (1,287,972)	16,350,674 (1,314,276)

		Total trade receivables
At 31 December 2024	Current	< 30 days	31 – 60 days	61- 90 days	91 - 180 days	181 - 360 days	> 360 days	Total
Expected credit loss rate (%) Estimated total gross	0.63%	11.87%	22.75%	60.07%	90.00%	90.00%	100.00%
carrying amount at default	12,911,506	25,827	24,814	6,630	8,451	7,103	1,295,218	14,279,549
Expected credit loss	(4,544)	(1,987)	(2,374)	(1,368)	(1,718)	(6,392)	(1,272,300)	(1,290,683)

14. OTHER CURRENT ASSETS

	30 June 2025	31 December 2024
Advance expenses for car insurance	295,237	322,387
Advance expenses for vignette	97,052	105,780
Advance expenses for business insurance	234,284	468,568
Advance expenses for authorizations, transportation licenses, subscriptions, others	382,864	121,645
Other current assets TOTAL	1,009,438	1,018,381

The values represent the payments carried out during the current year, for costs which affect the next financial year in accordance with the validity period for the insurances, authorizations, licenses, subscriptions.

15. CASH AND DEPOSITS

	30 June 2025	31 December 2024
Bank accounts in RON	7,215	14,081
Bank accounts in foreign currency	684	1,742
Short term deposits in RON	405,476	244,032
Short term deposits in foreign currency	1,271,900	-
Petty cash in RON	17,784	18,359
Petty cash in foreign currency	17,542	19,791
Total cash and short term deposits	1,720,602	298,005

The cash in banks records interests at variable rates, depending on the daily rates of the deposits in banks. The short term deposits are being constituted for periods of one day and records interests for the respective rates of the short term deposits.

The service providing contracts concluded with our main customers contain clauses referring to creation of performance guarantees through a guarantee granting instrument issued under the provisions of the law, by a bank or insurance company, i.e. Letters of Bank Guarantees.

Collateral deposits were classified depending on the maturity calculated from the starting date of the deposit. (details in Note 11 and 15.1).

Note 19 presents the details regarding the company's participation for the year 2025 to the system for optimization of cash availability between the companies within KazMunayGas International Group, known as cash pooling concept. The amount available in the principal account on 30 June 2025 was of RON 46,967,186 (2024: RON 46,818,063), being ready to use without restriction, depending on the necessity.

15. CASH AND DEPOSITS (continued)

15.1 COLLATERAL CASH FOR LETTERS OF GUARANTEE

The detail of the collateral deposits as at 31 March 2025 for the Letters of Bank Guarantee with maturity between less than 12 months is enclosed in the table below:

Number	Beneficiary	Currency	Amount equivalent RON	Start Date	Maturity date	Currency collateral deposit	Collateral deposit equivalent RON
LG9000019224 45189 Total collateral deposits	OMV PETROM S.A. S.N.G.N. ROMGAZ S.A.	RON RON	1,131 131,211	6-Mar-24 29-Apr-24	15-Sep-24 7-May-25	RON RON	1,131 131,211 132,342

The collateral deposits as at 31 December 2024 had the following components:

Number	Beneficiary	Currency	Amount equivalent RON	Start Date	Maturity date	Currency collateral deposit	Collateral deposit equivalent RON
LG9000021340	OMV PETROM S.A.	RON	662,546	23-May-24	23-May-25	RON	662,546
LG9000019224	OMV PETROM S.A.	RON	441,188	6-Mar-24	15-Feb-25	RON	441,188
45189	S.N.G.N. ROMGAZ S.A.	RON	93,088	29-Apr-24	7-May-25	RON	93,088
47464	S.N.G.N. ROMGAZ S.A.	RON	6,322	8-Nov-24	28-Feb-25	RON	6,322
Total collateral deposits							1,203,143

16. SHARE CAPITAL

16.1. Subscribed share capital

The last modification of the share capital has been in 2008, when the shareholders have decided, after the general meeting which has taken place on 20 June 2008, to increase the share capital of the company by the amount of RON 13,909,545, from RON 13,909,545 up to RON 27,819,090, through issuing, for free, of a number of 139,095,450 new shares with a nominal value of RON 0.10 / share.

The new issued shares have been allocated for the shareholders registered under the Shareholders' Registry at the date of the registration, approved by the Extraordinary Meeting of the Shareholders, respectively July 8th 2008, proportional to the amounts held by each of them. The allocation index has been 1. The issuing of shares has been financed from the reserves of the result carried forward of the financial year 2007, respectively from the amount allocated to Other reserves.

The finalization of the procedural phases for approval and recognition has been officially signaled through the repetition of the transacting of the shares, after the increase of the share capital, on 18 September 2008, without undergoing modifications until 30 June 2025.

	30 June 2025	31 December 2024
	Number	Number
Subscribed capital, ordinary shares	278,190,900	278,190,900
Nominal value, ordinary shares	RON 0.1	RON 0.1
Value of the share capital	RON 27,819,090	RON 27,819,090

The share capital of the company is totally paid in on 30 June 2025.

The Company is listed under the Bucharest Stock Exchange under the symbol PTR.

16.2. Adjustments on share capital

According to the IAS 29 provisions, the company has adjusted the costs of its purchased investments until 31 December 2003 with the purpose of reflecting the accounting impact in the hyperinflation. The value of the share capital has been increased at 31 December 2012 by RON 166,740,745. This adjustment had no impact over the carried forward distributable profit of the company. In 2013, the general ordinary meeting of shareholders on 30 April 2013 approved to cover the brought forward accounting loss from first application of IAS 29 "Financial Reporting in Hyperinflationary Economies" in amount of RON 166,002,389, from own capitals, i.e. "adjustment of share capital". The effect of this decision for the structure of share capital on 30 June 2025, as well as on 31 December 2024 and is presented in the table below:

	30 June 2025	31 December 2024
Share capital, from which:	28,557,446	28,557,446
Paid-in share capital	27,819,090	27,819,090
The adjustment of the share capital	738,356	738,356

17. LEASES

17.1 The right-of-use assets

The statement of the identified assets as of 30 June 2025 is presented in the table below:

Cost	Technical equipment and machinery and other tangible assets	Advances	Total Right of use assets
On 1 January 2024	15,308,878	-	15,308,878
Additions	-	-	-
Remeasurement	(6,584)	-	(6,584)
Transfers	-	-	-
On 31 December 2024	15,302,294	-	15,302,294
Additions	1,494,992	-	1,494,992
Remeasurement	-	-	-
Transfers	-	-	-
On 30 June 2025	16,797,286	-	16,797,286
Depreciation and impairment
On 1 January 2024	5,159,241	-	5,159,241
Depreciation charge for the year Transfers	1,596,609	- -	1,596,609
On 31 December 2024	5,159,241	-	5,159,241
Depreciation charge for the year Transfers	844,787	- -	844,787
On 30 June 2025	6,004,028	-	6,004,028
Net book value
On 30 June 2025	10,793,258	-	10,793,258
On 31 December 2024	10,143,053	-	10,143,053
On 1 January 2024	11,746,246	-	11,746,246

At the beginning of 2020, the Company signed a financial leasing contract which acquires the right to use two production equipment (cement pumping units). The financing contract has a period of 5 years, starting with the date of the goods receipt, the total value of the equipment's being of EUR 2,680,000 (equivalent of RON 12,061,957), the option to buy the goods being expressed at the moment the contract was signed. The Company paid in the first half of the year 2020 the advance, as part of the leasing contract, in amount of RON 1,297,120. The equipment was delivered in the first half of 2022 which resulted in the recognition of assets under the category rights of use of assets in the amount of RON 12,061,957.

17. LEASES (continued)

17.2 Lease liability

The accounting value of the lease liability and the movements recorded in this category during the first half year of 2025:

30 June 2025	31 December 2024
	8,805,636
	-
	(7,214)
	475,418
	(3,129,029)
	27,995
6,425,114	6,172,806
2,997,576	2,568,984 3,603,823
	6,172,805 1,494,992 - 169,772 (1,563,959) 151,504 3,427,538

For details regarding undiscounted potential future lease payments, please refer to Note 21.

The following expenses represent amounts recognized in profit and loss account in connection to lease contracts:

	H1 2025	H1 2024
Depreciation expense of right of use assets	844,787	808,627
Interest expense on lease liability	169,772	267,058
Expense relating to short-term leases	138,960	53,383
Variable lease payments	7,668	54,925
Total amounts recognised in profit or loss account	1,161,186	1,183,992

The maturity analysis of lease liabilities is disclosed in Note 21.

18. TRADE PAYABLES AND SIMILAR LIABILITIES (CURRENT)

	30 June 2025	31 December 2024
Trade payables - third parties	4,250,287	4,812,119
Trade payables with affiliated entities	1,231,686	660,367
Advances	23,530	22,009
Salaries	2,205,607	1,921,702
Dividends to be paid	14,128,147	3,926,559
Other taxes	1,354,532	730,744
Other liabilities	6,028	-
Total	23,199,817	12,073,500

ROMPETROL WELL SERVICES SA NOTES TO FINANCIAL STATEMENTS UNAUDITED For the period ended as at 30 June 2025 (all amounts expressed in Lei ("RON"), unless otherwise specified)

19. PRESENTATION OF THE AFFILIATED PARTIES

The following tables present information on transactions with companies under common control of KazMunayGas Group as of 30 June 2025.

Name of the company	Transaction type	Country of origin	The nature of relationship
KMG International NV	Payments of dividends	Netherland s	Parent Company
Rompetrol Rafinare SA	ITP services	Romania	Minority investment of 0.05% of the Rompetrol Rafinare share capital
Rompetrol Logistics SRL	ITP services, reinvoicement security services	Romania	Minority investment of 6.98%, of the Rompetrol Logistics share capital
Oilfield Exploration Business Solutions SA	ITP services	Romania	Company member of KMG International Group
Rompetrol Downstream SRL	Procurement of fuel, procurement of rovignete	Romania	Company member of KMG International Group
KMG Rompetrol SRL	Management and IT services, cash pooling services	Romania	Company member of KMG International Group
Rominserv SRL	ITP services	Romania	Company member of KMG International Group
KMG Rompetrol Services Center SRL	Services for procurement, legal, employees, translations, rental of premises	Romania	Company member of KMG International Group
Rompetrol Quality Control SRL	Laboratory test	Romania	Company member of KMG International Group
Global Security Sistem SA	Security services	Romania	Associate of KMG International Group

19. PRESENTATION OF THE AFFILIATED PARTIES (continued)

Receivables

	30 June 2025	31 December 2024
KMG Rompetrol SRL	47,308,616	47,109,341
Rompetrol Logistics SRL	29,752	28,194
KMG Rompetrol Services Center SRL	1,563	770
Total	47,339,932	47,138,305

Liabilities

	30 June 2025	31 December 2024
KMG Rompetrol SRL	668,279	204,311
Rompetrol Downstream SRL	464,635	397,960
KMG International N.V.	7,474,250	-
KMG Rompetrol Services Center SRL	98,772	58,096
Total	8,705,937	660,367

Sales

	H1 2025	H1 2024
KMG Rompetrol SRL	1,909,542	2,105,216
Rompetrol Logistics SRL	150,845	124,750
KMG Rompetrol Services Center SRL	3,902	3,880
Oilfield Exploration Business Solutions SA	109	109
Rompetrol Rafinare S.A.	126	109
Rominserv SRL	-	143
Total	2,064,525	2,234,208

Acquisition of goods and services

	H1 2025	H1 2024
Rompetrol Downstream SRL	2,222,765	2,739,505
KMG Rompetrol SRL	1,685,132	2,239,794
KMG Rompetrol Services Center SRL	564,229	520,750
Rompetrol Quality Control SRL	363	1,089
Total	4,472,490	5,501,139

Starting with 2014, it was implemented an optimization system for the cash availability between the companies within KazMunayGas International Group, known as cash pooling concept. Cash pooling system was implemented in relation to cash availability from certain bank accounts of the Company, and the direct effect will be transposed to the optimization of cash for the company, with impact in the interest income. According to the cash pooling system, in terms of assets presentation, the amounts available at the end of the reporting period is reflected in the statement of financial position in the line "Availabilities in cash pooling system". During the reporting period, the average balance of master account was RON 48,742,585, generating interest in amount of RON 1,909,542. The value of these receivables as of 30 June 2025 was of RON 47,308,616.

19. PRESENTATION OF THE AFFILIATED PARTIES (continued)

Description	Validity term	Contract Date	Maturity Date	Interest rate	Currency	Principal	Interest receivable as of 31 December 2024	Balance existing as of 31 December 2024	Interest receivable as of 30 June 2025	Balance existing as of 30 June 2025
Cash Optimization System implementation of The KMG Rompetrol Group companies (cash pooling) Total	12 months, with automatically extension	15-Sep-14	15-Sep-25	Based on ROBOR OVERNIGHT	RON	Depending on the working capital needs	291,278 291,278	46,818,063 46,818,063	341,430 341,430	46,967,186 46,967,186

On 17 October 2019, KMG International NV issued a deed guarantee in favor of the Company for an amount up to 30 million USD, in connection with the current cash pooling contract.

20. COMMITMENTS AND CONTINGECIES

Guarantees to third parties

The service providing contracts concluded with our main customers contain clauses referring to creation of performance guarantees through a guarantee granting instrument issued under the provisions of the law, by a bank or insurance company, i.e. Letters of Bank Guarantees.

The detail of the collateral accounts on 30 June 2025 and 31 December 2024 for the Letters of Bank Guarantee is enclosed in Note 11 and Note 15.1.

Transfer pricing

Fiscal legislation in Romania includes the principle of "market value", according to which transactions between affiliated parties must be conducted at market value. Taxpayers which conduct transactions with affiliated parties must prepare and readily present to Romanian fiscal authorities at their written demand the transfer price file. The failure to present the transfer price file or the presentation of an incomplete file may lead to application of penalties for nonconformity; in addition to the content of the transfer price file, the fiscal authorities might interpret differently the transactions and circumstances than the interpretation of management and, as a consequence, might impose additional fiscal obligations resulting from adjustment of transfer prices. The management of the Company is considering that it will not suffer losses in case of a fiscal control for the verification of transfer prices. However, the impact of possible different interpretations of the fiscal authorities can't be estimated.

Litigation

The Company is involved in a litigation file having as object a call for guarantee concerning a provision of services, the amount of the claims being approximately RON 697,000. The Company lawyer informed the management about the status of the litigation file, to the effect that based on the information/documents and the arguments of the parties, currently included in the file before the Court, there are no indications that could lead to a possible admission of the call for guarantee filed against the Company. Therefore, no provision for litigation was recorded in these financial statements.

During 2023, for the same amount, the Company filed a request for the refund of wrongfuly executed guarantee, case in which the court ordered, during 2024, the application to be granted and ordered the company's customer to refund the amount (final decision was issued, no right for appeal anymore). The amount was collected on April, 2024 (details in Note 13).

21. OBJECTIVES AND POLICIES FOR THE FINANCIAL RISK MANAGEMENT

The risk of the interest rate

• ➢ Loans received: the company is not involved in any loan contract and therefore not exposed to risks regarding the movement of the interest rate;
• ➢ Loan granted: for the loans granted presented in note 19 (Availabilities in cash pooling system), the income from interest varies, depending on OVERNIGHT ROBOR.

Considering the cash availabilities of the Company which are managed through cash pooling system, the current increased interest rates have positive impact on the Company's financial result.

If interest rates would have varied with + / - 1 percent and all other variables would have been constant, the net result of the Company as of 30 June 2025 would increase / decrease with RON 244,619 (2024: increase / decrease with RON 486,822).

Risk of the exchange rate variations

Most of the transactions of the company are in RON. Depending on the case, the structure of the amounts available in cash and the short-term deposits are also being adapted.

21. OBJECTIVES AND POLICIES FOR THE FINANCIAL RISK MANAGEMENT (continued)

The difference between the entry of the amounts in foreign currency and their repayment cannot generate, through the variation of the exchange rate, significant impact in the Company's financial position.

Foreign currency sensitivity

The following tables demonstrate the sensitivity towards a possible reasonable change (5%) of the exchange rate of the USD dollar, EUR, all other variables being maintained constant.

The impact over the profit of the company before taxation is due to the changes in fair value of the assets and monetary debts. The exposure of the company to the foreign currency modifications for any other foreign currency is not significant.

	Total	5%	5%
	RON	USD	EUR
31 December 2024
Balance	(134,973)	(20,408)	(114,565)
Monetary assets	2,649	968	1,680
Monetary liabilities	(137,622)		(21,376) (116,246)
30 June 2025
Balance	(55,171)	(2,119)	(53,052)
Monetary assets	67,075	856	66,219
Monetary liabilities	(122,246)		(2,975) (119,271)

The credit risk

The company treats the crediting of its customers procedural, with flexibility through the stable contracting strategy as an essential mechanism for the risk repartition. The unfavorable conditions of the current market environment might impact our existing customers of the company, but the Management permanently monitors the receivables, collections and potential impairments. Having a constant customers' structure ensures a level of overdue receivables which does not vary significantly from one period to another.

The market risk

The geopolitical context and the uncertainty faced by the region during this period triggered an increase in the purchase prices for the goods and services contracted by the company for the current activities, but also a fluctuation in delivery terms. However, Management is constantly looking to align to the current market condition the service tariffs as well as the type of services rendered.

Taking into consideration the structure and continuance of trade contracts, it can be highlighted as important clients SC OMV Petrom SA and SNGN Romgaz SA concentrating around 84% of the total turnover registered for the first quarter of the year 2025.

Cyber risk

The progress made toward digitalization certainly brings great benefits, however as the use of new technologies and their capabilities increases, so do the risks derived from their exposure in cyberspace, the reliance on the systems deployed and the information generated by the Company. The risks are not only technical but also business related and may lead to operational disruptions, fraud or theft of sensitive information.

In 2022, we were subject to an attempt to gain unauthorized access to our computer network and systems, which did not result in major operational disruptions and have not had a material adverse effect on us, however this kind of events may occur in the future.

21. OBJECTIVES AND POLICIES FOR THE FINANCIAL RISK MANAGEMENT (continued)

The Company continuously improves cyber security capabilities. and supervise the cyber security activity, ensuring the protection of the confidentiality, integrity and availability of data. Also, the Company continuously educates their employees and partners about cyber security risks and support them to act in a responsible way.

Impact of sanction risks and conflict in Ukraine

In the context of the military conflict between Russia and Ukraine, started on 24 February 2022, the EU, USA, UK and other countries imposed various sanctions against Russia, including financing restrictions on certain Russian banks and state-owned companies as well as personal sanctions against a number of individuals.

Considering the geopolitical tensions, since February 2022, there has been an increase in financial markets volatility and exchange rate depreciation pressure.

These events continue to affect the activities in various sectors of the economy, resulting in increases in European energy prices and increased risk of supply chain disturbances.

The Company does not have direct exposures to related parties and/or key customers or suppliers from those countries since the Company and its main customers activate only on local market, therefore the most recently sanctions imposed against Russia do not to have an direct impact on the Company's activity.

At this stage Management doesn't expect that such conflict will have a significant negative impact on the Company's operations and on the recoverable value of the Company's long term assets.

Liquidity risk

The Company monitors its risk of a shortage of funds using a liquidity planning tool.

The Company's objective is to maintain a balance between continuity of funding and flexibility through the efficient use of working capital. Approximately 86% of the Company's debt will mature in less than one year at 30 June 2025 (2024: 67%) based on the carrying value reflected in the financial statements. The Company assessed the concentration of risk with respect to chargeability of its debt and concluded it to be low.

21. OBJECTIVES AND POLICIES FOR THE FINANCIAL RISK MANAGEMENT (continued)

The table below details the profile of the payment terms of the financial liabilities of the Company, based on contractual payments:

	Between
Trade payables and similar liabilities	On demand	Under 3 months	Between 3 and 12 months	1 and 5 years	Over 5 years	Total
Trade payables - third parties	25,030	3,906,716	268,332	50,208	-	4,250,287
Trade payables with affiliated entities	-	1,231,686	-	-	-	1,231,686
Lease liabilities	-	494,504	2,250,854	3,679,755	-	6,425,114
Dividends to be paid	3,890,914	10,237,233	-	-	-	14,128,147
Other liabilities	-	28	6,000	-	-	6,028
Total year 2025	3,915,944	15,870,168	2,525,186	3,729,964	-	26,041,262

Trade payables and similar liabilities	On demand	Under 3 months	Between 3 and 12 months	Between 1 and 5 years	Over 5 years	Total
Trade payables - third parties	81,035	4,156,599	111,463	463,022	-	4,812,118
Trade payables with affiliated entities	416,854	243,513	-	-	-	660,367
Lease liabilities	-	423,120	1,928,985	3,820,702	-	6,172,807
Dividends to be paid	3,926,559	-	-	-	-	3,926,559
Other liabilities	-	-	-	-	-	-
Total year 2024	4,424,448	4,823,232	2,040,447	4,283,723	-	15,571,851

Administrator, Prepared by, FLOREA Georgian Stefan MOISE Luiza-Roxana

Signature Signature