Mostostal Zabrze S.A.

Interim / Quarterly Report • Sep 11, 2025

INTERIM CONDENSED CONSOLIDATED FINANCIAL STATEMENTS for the period from January 1, 2025 to June 30, 2025

Due to interest of international investors we present excerpt from the financial statement/interim report that is not a part of the official version and therefore does not present a complete picture of company's situation. The official version revealing on company's financial situation has been presented fully in Polish version of the report.

Date of publication: September 11 2025

All figures are in PLN thousand unless otherwise stated

STATEMENT OF FINANCIAL POSITION

ASSETS	30.06.2025	31.12.2024
Fixed assets (long-term)	412 675	392 890
Tangible fixed assets	214 519	213 382
Real property investments	39 925	39 231
Goodwill	295	295
Intangible fixed assets	5 042	4 728
Long-term financial assets	89 166	88 826
Deferred income tax assets	59 435	42 773
Long-term receivables and prepaid expenses	4 293	3 655
Current assets (short-term)	583 520	476 928
Current assets other than classified as held for sale	579 590	472 729
Inventory	115 098	65 136
Short-term receivables including:	262 203	176 662
Assets resulting from contracts with customers	85 200	88 493
Income tax receivables	1 245	3 830
Short-term financial assets	2 822	3 127
Cash and cash equivalents	113 022	135 481
Assets classified as held for sale	3 929	4 200
Total assets	996 195	869 818

EQUITY AND LIABILITIES	30.06.2025	31.12.2024
Total equity	393 208	375 031
Equity attributable to owners of the parent company	330 165	312 054
Core capital	147 951	147 951
Revaluation reserve	(13 237)	(13 329)
Retained profits/losses	195 451	177 432
Equity attributable to non-controlling interest	63 044	62 976
Liabilities	602 987	494 788
Long-term liabilities	117 357	88 603
Long-term provision	27 623	24 648
Deferred income tax liability	52 980	40 798
Long-term bank credits and loans	292	354
Long-term lease liabilities	21 554	22 319
Other long-term financial liabilities	789	77
Long-term liabilities	14 119	407
Short-term liabilities	485 630	406 185
Short-term liabilities other than liabilities included in groups intended for sale	484 885	405 643
Short-term provisions	17 005	57 783
Short-term bank credits and loans	46 191	10 449
Short-term lease liabilities	13 515	12 740
Other short-term financial liabilities	6 781	570
Short-term liabilities, including:	254 203	240 743
Liabilities related to contracts - valuation of contracts	134 239	77 284
Income tax liability	12 951	6 074
Liabilities of assets classified as destined for sale	745	542
Total Equity and Liabilities	996 195	869 818

TOTAL INCOME STATEMENT

CONSOLIDATED PROFIT AND LOSS ACCOUNT MULTIPLE-STEP VARIANT	From 01.01 to 30.06.2025	From 01.04 to 30.06.2025	From 01.01 to 30.06.2024	From 01.04 to 30.06.2024
Revenue from sale of products, goods and materials	505 262	266 305	454 439	222 514
Cost of products, goods and materials sold	445 313	236 869	395 895	195 507
Gross profit (loss) on sales	59 948	29 436	58 544	27 008
Selling costs	9 529	4 922	7 937	4 395
General administrative expenses	37 410	19 122	28 175	14 926
Net profit (loss) on sales	13 008	5 392	22 432	7 687
Other revenues	11 423	6 808	1 606	989
Other expenses	3 221	2 588	1 903	1 217
Profit (loss) on operating activities	21 211	9 612	22 135	7 459
Financial revenues	14 231	10 619	8 154	3 694
Financial expenses	5 550	3 383	4 614	1 865
Gross profit (loss)	29 892	16 848	25 675	9 287
Income tax	9 935	5 205	6 281	2 403
Net profit (loss) from business activities	19 957	11 643	19 394	6 885
Profit/Loss in the financial year for discontinued operations	(226)	(226)	-	-
Net profit (loss) for the financial year	19 731	11 417	19 394	6 885
Net profit (loss) attributable to non-controlling interests	1 223	2 094	557	194
Net profit (loss) for the shareholders of the parent company	18 508	9 323	18 836	6 691

CONSOLIDATED STATEMENT OF OTHER COMPREHENSIVE INCOMES	From 01.01 to 30.06.2025	From 01.04 to 30.06.2025	From 01.01 to 30.06.2024	From 01.04 to 30.06.2024
Net profit (loss) for the financial year	19 731	11 417	19 394	6 885
Other total income subject to reclassification to the profit and loss	(16)	(1 220)	(327)	(764)
account
Valuation of financial instruments	332	(7)	372	(172)
Valuation of hedging instruments	(348)	(1 213)	(700)	(592)
Other total income not subject to reclassification to the profit and loss	-	-	-	-
account
Actuarial profits/losses	-	-	-	-
Valuation of tangible fixed assets (temporary differences in the valuation of	-	-	-	-
property, plant and equipment)
Other total gross income	(16)	(1 220)	(327)	(764)
Income tax connected with components of other comprehensive	91	155	(24)	9
incomes subject to reclassification to the profit and loss account
Valuation of financial instruments	25	(75)	(157)	(103)
Valuation of financial instruments	66	230	133	112
Income tax connected with components of other comprehensive	5	3	16	3
incomes not subject to reclassification to the profit and loss account
Actuarial profits/losses	-	-	-	-
Valuation of tangible fixed assets (temporary differences in the valuation of	5	3	16	3
property, plant and equipment)
Other total net incomes	81	(1 062)	(335)	(752)
Total net comprehensive income	19 812	10 355	19 059	6 133
Allocated to non-controlling interests	1 227	2 086	561	196
Allocated to the shareholders of the parent company	18 585	8 269	18 497	5 937

CASH FLOW STATEMENT

Cash flow from operating activities	From 01.01 to 30.06.2025	From 01.04 to 30.06.2025	From 01.01 to 30.06.2024	From 01.04 to 30.06.2024
Net profit (loss) for the financial year	19 731	11 417	19 394	6 885
Total adjustments	(57 144)	(17 590)	26 032	17 798
Share in profits (losses) of investments accounted for by using the	-	-	-	-
equity method
Depreciation	10 813	5 651	8 199	4 086
Profits (loss) related to changes in foreign exchange rates	237	340	(214)	43
Shares in profit (dividends)	-	-	(7)	(7)
Cost of interest	1 702	1 099	1 124	553
Profit generated by interest	(3 973)	(1 884)	(5 556)	(3 397)
Profit (loss) from sale, disposal of fixed assets	(18)	(97)	95	59
Profit (loss) from sale, disposal of financial assets	(41)	(44)	113	(129)
Profit (loss) from asset valuation	112	447	396	185
Change in provisions	(37 520)	(34 040)	(3 715)	(2 394)
Change in inventories	(49 974)	(20 930)	2 518	740
Change in receivables, including prepaid expenses	(82 221)	(41 954)	31 144	(9 356)
Change in liabilities, including prepaid expenses	33 556	28 674	(23 675)	24 585
Change in assets and liabilities related to contracts	60 247	39 944	9 328	428
Adjustments resulting from income tax charges	9 935	5 205	6 281	2 403
Other adjustments from operating activities	-	-	-	-
Cash flow from operating activities (used in operating activities)	(37 413)	(6 174)	45 426	24 683
Income tax paid (refunded), counted towards operating activities	(3 913)	(2 380)	(29 822)	(12 757)
Total net cash flow from operating activities	(41 326)	(8 554)	15 604	11 925
Cash flow from investing activities
Proceeds from interest received	4 049	2 235	5 414	3 628
Proceeds from dividends received	-	-	7	7
Proceeds from the sale of financial assets	-	-	-	-
Proceeds from the sale of fixed assets, intangible assets and property	1 470	911	(678)	(416)
investments
Proceeds from repayment of loans granted	-	-	825	-
Purchase of financial assets	-	-	-	-
Purchase of property, plant and equipment, intangible assets and	(5 751)	(3 849)	(5 215)	(2 739)
property investments
Expenditures from loans granted	(5 000)	(5 000)	(10 525)	(11 050)
Other proceeds and expenditures from investments	(716)	(251)	3 943	13 933
Total net cash flows from investing activities	(5 948)	(5 955)	(6 229)	3 363
Cash flow from financing activities
Proceeds from emission of ordinary shares	-	-	-	-
Proceeds from debt securities	-	-	-	-
Proceeds and expenditures from granted credits and loans	37 734	29 608	-	(822)
Repayment of credits and loans	(1 977)	(988)	(1 712)	(1 457)
Payment of dividends	(879)	(879)	(1 426)	(1 426)
Repayment of liabilities related to financial leasing	(6 943)	(3 349)	(4 533)	(2 286)
Payment of interest on credit, loans, financial liabilities, debt securities	(3 019)	(1 932)	(1 271)	(634)
Other proceeds and expenses from financing activities	(1)	(1)	(104)	(99)
Total net cash flow from financing activities	24 915	22 459	(9 046)	(6 725)
Total net cash flow	(22 358)	7 950	329	8 563
Balance sheet change in cash	(22 452)	7 725	526	8 577
Change in cash resulting from differences in foreign exchange rates	(93)	(225)	197	14
Cash at the beginning of period with valuation	135 479	-	116 502	-
Cash and cash equivalents at the end of period with valuation	113 027	7 725	117 028	8 577
Restricted cash	2 680	(1 778)	4 148	1 996

CONDENSED INTERIM FINANCIAL STATEMENTS for the period from January 1, 2025 to June 30, 2025

Due to interest of international investors we present excerpt from the financial statement/interim report that is not a part of the official version and therefore does not present a complete picture of company's situation. The official version revealing on company's financial situation has been presented fully in Polish version of the report.

Date of publication: September 11 2025

All figures are in PLN thousand unless otherwise stated

STATEMENT OF FINANCIAL POSITION

ASSETS	30.06.2025	31.12.2024
Fixed assets (long-term)	220 804	220 245
Tangible fixed assets	1 519	1 738
Real property investments	8 253	7 967
Goodwill	-	-
Intangible fixed assets	1 429	1 152
Long-term financial assets	209 407	209 242
Deferred income tax assets	185	121
Long-term receivables and prepaid expenses	12	25
Current assets (short-term)	70 160	47 628
Current assets other than classified as held for sale	66 738	44 206
Inventory	-	-
Short-term receivables including:	5 324	5 476
Assets resulting from contracts with customers	-	-
Income tax receivables	16	1 790
Short-term financial assets	44 911	34 221
Cash and cash equivalents	16 486	2 719
Assets classified as held for sale	3 422	3 422
Total assets	290 965	267 873

EQUITY AND LIABILITIES	30.06.2025	31.12.2024
Total equity	268 259	220 487
Core capital	147 951	147 951
Revaluation reserve	(294)	(409)
Retained profits/losses	120 603	72 945
Including current period profit/loss	48 138	66 674
Liabilities	22 705	47 385
Long-term liabilities	4 034	4 064
Long-term provision	922	922
Deferred income tax liability	2 923	2 782
Long-term bank credits and loans	-	-
Long-term lease liabilities	189	361
Other long-term financial liabilities	-	-
Long-term liabilities	-	-
Short-term liabilities	18 671	43 322
Short-term liabilities other than liabilities included in groups intended for sale	17 926	42 780
Short-term provisions	5 186	7 089
Short-term bank credits and loans	-	21 191
Short-term lease liabilities	355	409
Other short-term financial liabilities	65	65
Short-term liabilities, including:	10 518	9 443
Liabilities related to contracts - valuation of contracts	-	-
Income tax liability	1 803	4 582
Liabilities of assets classified as destined for sale	745	542
Total Equity and Liabilities	290 965	267 873

TOTAL INCOME STATEMENT

PROFIT AND LOSS ACCOUNT	From 01.01 to 31.06.2025	From 01.04 to 31.06.2025	From 01.01 to 31.06.2024	From 01.04 to 31.06.2024
Revenue from sales of products, goods and materials	7 897	4 125	7 997	4 374
Cost of products, goods and materials sold	5 466	2 808	5 036	2 807
Gross profit (loss) on sales	2 430	1 317	2 961	1 568
Selling costs	253	58	1 039	776
General administrative expenses	10 492	5 492	8 508	4 574
Net profit (loss) on sales	(8 315)	(4 233)	(6 586)	(3 782)
Other revenues	208	199	331	209
Other expenses	141	63	119	74
Profit (loss) on operating activities	(8 247)	(4 097)	(6 373)	(3 646)
Financial revenues	57 243	52 796	79 455	40 332
Financial expenses	841	184	544	254
Gross profit (loss)	48 154	48 514	72 538	36 432
Income tax	17	202	(252)	(88)
Net profit (loss) from business activities	48 138	48 313	72 790	36 520
Profit/Loss in the financial year for discontinued operations	-	-	-	-
Net profit (loss) for the financial year	48 138	48 313	72 790	36 520
Net profit (loss) attributable to non-controlling interests	-	-	-	-
Net profit (loss) for the shareholders	48 138	48 313	72 790	36 520

STATEMENT OF OTHER COMPREHENSIVE INCOMES	From 01.01 to 31.06.2025	From 01.04 to 31.06.2025	From 01.01 to 31.06.2024	From 01.04 to 31.06.2024
Net profit (loss) for the financial year	48 138	48 313	72 790	36 520
Other total income subject to reclassification to the profit and loss
account	119	(71)	56	(318)
Valuation of financial instruments	119	(71)	56	(318)
Valuation of hedging instruments	-	-	-	-
Other total income not subject to reclassification to the profit and loss	-	-	-	-
account
Actuarial profits/losses	-	-	-	-
Valuation of tangible fixed assets (temporary differences in the valuation of	-	-	-	-
property, plant and equipment)
Other total gross income	119	(71)	56	(318)
Income tax connected with components of other comprehensive	(4)	(63)	(102)	(111)
incomes subject to reclassification to the profit and loss account
Valuation of financial instruments	(4)	(63)	(102)	(111)
Valuation of hedging instruments	-	-	-	-
Income tax connected with components of other comprehensive		-	-	-
incomes not subject to reclassification to the profit and loss account	-
Actuarial profits/losses	-	-	-	-
Valuation of tangible fixed assets (temporary differences in the valuation of	-	-	-	-
property, plant and equipment)
Other total net incomes	115	(133)	(46)	(429)
Total net comprehensive income	48 252	48 180	72 744	36 091

CASH FLOW STATEMENT

Cash flow from operating activities	From 01.01 to 31.06.2025	From 01.04 to 31.06.2025	From 01.01 to 31.06.2024	From 01.04 to 31.06.2024
Net profit (loss)	48 138	48 313	72 790	36 520
Total adjustments	(58 607)	(55 766)	(76 426)	(37 505)
Depreciation	407	219	460	236
Profits (loss) related to changes in foreign exchange rates	2	2	(0)	(0)
Shares in profit (dividends)	(53 580)	(50 935)	(75 980)	(38 166)
Cost of interest	652	123	37	20
Profit generated by interest	(3 458)	(1 788)	(3 113)	(1 811)
Profit (loss) from sale, disposal of fixed assets	-	-	(9)	(9)
Profit (loss) from sale, disposal of financial assets	(41)	(44)	(247)	(328)
Profit (loss) from asset valuation	124	(70)	156	75
Change in provisions	(1 903)	(1 902)	(1 959)	(1 923)
Change in inventories	-	-	-	-
Change in receivables	(2 420)	(3 705)	7 358	787
Change in liabilities	1 594	2 133	(2 875)	3 703
Change in assets and liabilities related to contracts	-	-	-	-
Adjustments resulting from income tax charges	17	202	(252)	(88)
Other adjustments from operating activities (e.g., valuation of leases)	-	-	-	-
Cash flow from operating activities (used in operating activities)	(10 470)	(7 453)	(3 636)	(985)
Income tax paid (refunded), counted towards operating activities	132	96	180	127
Net cash flow from operating activities	(10 337)	(7 357)	(3 455)	(858)
Cash flow from investing activities
Proceeds from interest received	2 696	2 013	2 853	1 912
Proceeds from dividends received	18 564	553	67 228	67 228
Proceeds from the sale of financial assets	-	18 564	-	-
Proceeds from the sale of fixed assets, intangible assets and property
investments	364	18 564	4 634	-
Proceeds from repayment of loans granted	4 580	-	1 855	-
Purchase of financial assets	-	-	-	-
Purchase of property, plant and equipment, intangible assets and	(791)	324	(783)	(480)
property investments
Expenditures from loans granted	(11 300)	121	(12 825)	(15 350)
Other proceeds and expenditures from investments	-	2 600	(6 400)	(6 400)
Total net cash flow from investing activities	14 113	2 600	56 563	46 910
Cash flow from financing activities
Proceeds from emission of ordinary shares	-	-	-	-
Proceeds from debt securities	-	-	-	-
Proceeds and expenditures from granted credits and loans	11 000	-	-	-
Repayment of credits and loans	-	-	-	-
Payments of dividends	-	-	-	-
Repayment of liabilities related to financial leasing	(226)	(108)	(215)	(109)
Payment of interest on credit, loans, financial liabilities, debt securities	(781)	(314)	-	-
Other proceeds and expenses from financing activities	-	-	-	-
Total net cash flow from financing activities	9 993	(422)	(215)	(109)
Total net cash flow	13 769	14 538	52 892	45 942
Balance sheet change in cash	13 767	14 537	52 892	45 942
Change in cash resulting from differences in foreign exchange rates	(2)	(2)	0	-
Cash at the beginning of period with valuation	2 719	-	1 152	-
Cash and cash equivalents at the end of period with valuation	16 486	14 537	54 045	45 942
Restricted cash	1	(822)	117	117

The Management Board approves the financial statements of Mostostal Zabrze S.A. for first half of 2025.

President

Vice President Witold Grabysz ……………………………………

Vice President

Dariusz Pietyszuk …………………………………… Elektronicznie podpisany przez Dariusz Pietyszuk Data: 2025.09.11 15:13:39 +02'00'

Elektronicznie podpisany przez Witold Grabysz Data: 2025.09.11 13:40:43 +02'00'

Signature of the person entrusted with keeping the accounting books

Chief Accountant Officer Izabela Kramorz-Januszek ……………………………………

Izabela Maria Kramorz-Januszek Elektronicznie podpisany przez Izabela Maria Kramorz-Januszek Data: 2025.09.11 12:25:05 +02'00'