Rompetrol Well Services S.A.

Quarterly Report • Nov 27, 2025

RELEASE regarding the availability of the Report for the third quarter of 2025

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

During the first nine months of the current year, the company adapted to the volatile market context and maintained its 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 the construction of geothermal wells for Gerota Hospital.

Throughout 2025, the activity was negatively influenced by several factors independent of the company's current activity - the impact of recent fiscal measures, which reduced the level of investments in the market, the implementation of restructuring programs in the industry, which led to the postponement of orders related to ongoing contracts. Thus, the financial results reported for the third quarter recorded decreases, in line with the trends indicating, at a global level, a decrease of up to 6% in investments in the upstream sector.

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 locally.

For 2025, we estimate that the Company's flexibility related to the type of services provided, along with a strong financial position, including cash and cash equivalents, will allow for an increase in operational activity indicators.

The company continued to manage all its commitments, keeping a financial balance, ensuring cash availability for the full and timely payment of all commercial commitments, salary rights and budgetary debts.

RON

	Q III 2025	Q III 2024	Q II 2025	9M 2025	9M 2024
Operating income, of which:	14,579,960	18,092,325	17,718,649	47,022,498	54,751,507
Services provided	14,413,347	17,946,609	17,526,581	46,518,109	54,239,628
Operational costs	(15,960,553)	(17,492,444)	(16,785,933)	(47,900,065)	(51,148,638)
Operational result	(1,380,593)	599,881	932,716	(877,567)	3,602,869
EBITDA *)	(26,772)	1,811,023	2,073,347	2,846,118	7,229,073
Net financial income	734,333	722,464	755,005	2,290,431	2,551,222
NET RESULT	(533,422)	1,154,201	1,507,363	1,161,563	5,280,453

^*) EBITDA = Operating result - value adjustments related to fixed assets and current assets - adjustments related to provisions

Rompetrol Well Services S.A. informs investors about the availability of the Report for the third quarter of 2025. The report prepared in accordance with applicable legislation will be made available to the public starting November 27, 2025, at 6:00 p.m., in writing, upon request, as well as in electronic format, on the Company's website: rompetrolwellservices.com/ Investor Relations / Financial results and reports / Quarterly interim reports.

Rompetrol Well Services S.A. was established in 1951 as a state-owned company under the Ministry of Petroleum and Chemistry, under the name "ICOTS - Cementing, Operations and Special Transport Enterprise". Since 1990, the company has become the commercial company Petros Ploiesti and has been listed on the Bucharest Stock Exchange since 1998. The Rompetrol Group (currently KMG International) took over the majority stake in 2000, currently holding a 73% stake.

GENERAL DIRECTOR, Georgian Stefan Florea

FINANCIAL RATIOS FOR THE THIRD QUARTER 2025

Ratio	Calculation method	Value
Current liquidity ratio 1)	Current assets/Current liabilities	4,15
Gearing ratio 2)	Borrowed capital/Total equity x 100	5,7
Receivable turnover 3)	Average receivables/Turnover x 90	70,63
Asset turnover 4)	Turnover/Non-current assets	0,78

• 1) Provides the guarantee to cover current debts from current assets. The recommended acceptable value is about 2.
• 2) Explains the effectiveness of credit risk management, indicating potential financing, liquidity issues, with influences in meeting the commitments. Borrowed Capital = Loans over 1 year, Employed Capital = Borrowed Capital + Equity
• 3) Expresses the company's effectiveness in collecting its receivables, i.e. the number of days until the debtors pay their debts to the company.
• 4) Explains the effectiveness of non-current asset management by examining turnover (for S.I.F. the amount of current activity revenue) generated by a certain amount of non-current assets.

Stefan Georgian Florea Luiza-Roxana Moise

Administrator, Prepared by Finance Manager,

ROMPETROL WELL SERVICES SA STANDALONE INTERIM FINANCIAL STATEMENTS UNAUDITED

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

30 September 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 September 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 September 2025

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

	Notes	9 months of 2025	9 months of 2024	Quarter 3 2025	Quarter 3 2024
Turnover		46,883,191	54,600,440	14,536,375	18,065,350
Revenues from contracts with customers	2	46,518,109	54,239,628	14,413,347	17,946,609
Rental revenues	2.1	365,082	360,812	123,028	118,741
Other operating income	3.1	139,307	151,067	43,585	26,975
OPERATING INCOME - TOTAL		47,022,498	54,751,507	14,579,960	18,092,325
Expenses with consumables		(12,923,883)	(15,260,142)	(4,504,920)	(5,165,831)
Power and water expenses		(357,500)	(287,002)	(52,025)	(46,458)
Merchandise expenses		(12,101)	(3,337)	(830)	-
Payroll costs, out of which:	5	(18,251,898)	(17,420,967)	(6,167,966)	(6,201,711)
- Salaries		(16,996,063)	(16,444,065)	(5,701,992)	(5,718,632)
- Social security contributions		(586,560)	(545,164)	(195,866)	(188,420)
Fixed assets' value adjustments, of which	7,8,9,17	(3,871,478)	(3,622,779)	(1,356,326)	(1,216,407)
- Depreciation Allowance for expected credit losses		(3,871,478) 147,793	(3,622,779) (3,425)	(1,356,326) 2,505	(1,216,407) 5,265
Expenses with third-party services	3.2	(11,628,499)	(13,854,565)	(3,577,549)	(4,655,454)
Taxes, duties and similar expenses		(907,615)	(585,011)	(296,564)	(185,677)
Other operating expenses	3.3	(94,884)	(111,410)	(6,878)	(26,171)
OPERATING EXPENSES – TOTAL		(47,900,065)	(51,148,638)	(15,960,553)	(17,492,444)
OPERATING RESULT		(877,567)	3,602,869	(1,380,593)	599,881
Interest income		2,744,686	2,941,629	828,929	827,406
- of which, revenues from related parties		2,735,115	2,930,005	825,573	824,789
Other financial income		55,165	32,039	7,161	24,145
FINANCIAL INCOME - TOTAL	4.1	2,799,851	2,973,668	836,090	851,551
Other financial expenses		(509,420)	(422,446)	(101,757)	(129,087)
FINANCIAL EXPENSES - TOTAL	4.2	(509,420)	(422,446)	(101,757)	(129,087)
FINANCIAL RESULT		2,290,431	2,551,222	734,333	722,464
RESULT BEFORE TAX		1,412,864	6,154,091	(646,260)	1,322,345
Income tax expense		(251,301)	(873,638)	112,838	(168,144)
RESULT FOR THE YEAR		1,161,563	5,280,453	(533,422)	1,154,201
Earnings per share	6	0.0042	0.0190	(0.0019)	0.0041
Other comprehensive income that will not
be reclassified to profit or loss in
subsequent periods (net of tax): Actuarial gain / (losses) relating to retirement		-	(711,575)	-	(711,575)
benefits		-	-	-	-
Remeasurement of fair value of equity
instruments measured at fair value through
other comprehensive income		-	(711,575)	-	(711,575)
TOTAL COMPREHENSIVE INCOME, net of tax		1,161,563	4,568,878	(533,422)	442,626

Administrator, Prepared by,

FLOREA Georgian Stefan MOISE Luiza-Roxana

Signature Signature

Finance Manager

ROMPETROL WELL SERVICES SA STATEMENT OF FINANCIAL POSITION UNAUDITED

For the period ended as at 30 September 2025

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

	Notes	30 September 2025	31 December 2024
Assets
Non-current assets
Property, Plant & Equipment	7	22,981,776	22,505,869
Right of use assets	17.1	10,330,354	10,143,052
Investment property	8	381,642	395,594
Intangible assets	9	11,399	20,725
Equity instruments at FVOCI	10	20,079,665	20,079,665
Other financial assets	11	6,526,172	10,851,052
Total non-current assets		60,311,008	63,995,957
Current assets
Inventories, net	12	6,103,288	5,479,481
Trade and other receivables	13	11,653,340	13,031,556
Availabilities in cash pooling system	19	40,622,716	47,109,341
Other current assets	14	798,879	1,018,381
Collateral cash for guarantee letters	15.1	535,615	1,203,143
Cash and deposits	15	736,746	298,005
Total current assets		60,450,584	68,139,907
Total assets		120,761,592	132,135,864
Capital and reserves
Capital
Share capital, of which:		28,557,446	28,557,446
Subscribed and paid in share capital Share capital adjustments	16.1 16.2	27,819,090 738,356	27,819,090 738,356
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		1,161,563	10,237,307
Total equity		100,017,129	109,092,873
Long-term liabilities Employee benefits liabilities		803,416	1,249,466
Deferred tax liabilities		2,599,476	2,599,476
Lease liabilities	17.2	2,670,012	3,603,822
Other liabilities		90,925	73,635
Total long-term liabilities		6,163,829	7,526,399
Current liabilities
Trade and other payables	18	11,470,595	12,073,500
Income tax payable Lease liabilities	17.2	94,310 3,015,729	874,108 2,568,984
Total current liabilities		14,580,634	15,516,592
Total liabilities		20,744,463	23,042,991
Total equity and liabilities		120,761,592	132,135,864

FLOREA Georgian Stefan MOISE Luiza-Roxana

Signature Signature

Administrator, Prepared by, Finance Manager

ROMPETROL WELL SERVICES SA STATEMENT OF CHANGES IN EQUITY UNAUDITED

For the period ended as at 30 September 2025

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

For the period ended as at 30 September 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	-	-	-	-	-	1,161,536	1,161,536
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 September 2025	28,557,446	5,563,818	33,837,979	12,854,944	18,041,378	1,161,536	100,017,129
For the period ended as at 30 September 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	-	-	-	-	-	5,280,453	5,280,453
Other comprehensive income Remeasurement of fair value of financial assets measured at fair value through other comprehensive income	- -	- -	(711,575) (711,575)	- -	- -	- -	(711,575) (711,575)
Actuarial gain / (losses) relating to retirement benefits	-	-	-	-	-	-	-
Total comprehensive income	-	-	(711,575)	-	-	-	(711,575)
Profit distribution	-	-	-	11,767,863	-	(11,767,863)	-
Dividends Balance at 30 September 2024	- 28,557,446	- 5,563,818	- 30,085,022	(11,767,863) 12,854,944	- 18,041,378	- 5,280,453	(11,767,863) 100,383,061

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

Signature Signature

Finance Manager

ROMPETROL WELL SERVICES SA STATEMENT OF CHANGES IN EQUITY UNAUDITED

For the period ended as at 30 September 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

Finance Manager

Signature Signature

ROMPETROL WELL SERVICES SA STATEMENT OF CASH FLOW UNAUDITED

For the period ended as at 30 September 2025

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

Indirect method

Name of item	Note	30 September 2025	30 September 2024
Cash flows from operating activities:
Net profit before tax		1,412,864	6,154,091
Adjustments for:
Depreciation related to tangible assets and investment properties	7, 8	2,554,207	2,375,701
Depreciation related to right of use assets Amortization related to intangible assets	17.1 9	1,307,690 9,325	1,212,568 34,510
Impairment related to tangible assets and investment properties	7	-	-
Provisions for post-employment benefits plans and other provisions		(446,050)	(157,681)
Provision for inventory	12	-	-
Allowance for trade and other receivables	13	(147,793)	3,427
Trade receivables and sundry debtors write off Earnings from debts write-off (unclaimed dividends)	3.3 3.1	2,715 -	- -
Interest income	4.1	(2,744,686)	(2,941,629)
Interest expense	4.2	246,873	380,029
Net foreign exchange differences		165,717	16,132
Loss / (gain) from disposal of property, plant and equipment		(40,494)	(59,065)
Operating profit before working capital changes		2,320,369	7,018,084
(Increase) / Decrease of guarantees letters		4,992,408	(3,855,185)
(Increase) / Decrease of trade and other receivables		1,759,538	(1,312,478)
(Increase) / Decrease of inventories		(622,453)	(349,403)
Increase / (Decrease) of trade and other payables		(1,265,865)	1,497,046
Payments of interest portion of lease liabilities Paid income tax	17.2	(246,352) (1,031,099)	(379,819) (917,761)
Net cash flow from operating activities		5,906,546	1,700,484
Cash flows from investing activities:
Purchase of tangible and intangible assets Proceeds from sale of tangible and intangible assets		(3,042,015) 64,992	(2,726,204) 70,351
(Increase) / Decrease of cash pooling balance		6,453,427	10,596,850
Interest received		2,777,884	3,034,392
Net cash from investing activities		6,254,288	10,975,389
Cash flows from financing activities:
Payments of principal portion of lease liabilities		(2,143,675)	(1,998,787)
Proceeds from sale of financial assets		-	-
Dividends paid to equity holders		(9,578,416)	(11,030,574)
Net cash flows from financing activities		(11,722,091)	(13,029,362)
Net (decrease) / increase of cash and cash equivalents		439,171	(353,381)
Net foreign exchange differences		(428)	(107)
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		736,746	295,054

Administrator, Prepared by,

Signature Signature

FLOREA Georgian Stefan MOISE Luiza-Roxana Finance Manager

For the period ended as at 30 September 2025

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

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.

For the period ended as at 30 September 2025

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

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.).

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.

For the period ended as at 30 September 2025

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

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 September 2025 were, for RON:

	30 September 2025	31 December 2024
1 EUR	5.0811	4.9741
1 USD	4.3247	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.

For the period ended as at 30 September 2025

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

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.

For the period ended as at 30 September 2025

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

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.

For the period ended as at 30 September 2025

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

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.

For the period ended as at 30 September 2025

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

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.

For the period ended as at 30 September 2025

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

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.

For the period ended as at 30 September 2025

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

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 short-term 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-of-use 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:

MachineryOther equipment

10 years

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.

For the period ended as at 30 September 2025

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

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).

For the period ended as at 30 September 2025

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

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.

For the period ended as at 30 September 2025

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

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.

For the period ended as at 30 September 2025

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

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:

	Reported period completed on September 30th 2025	Reported period completed on September 30th 2024
Revenue from well services	46,386,637	54,122,939
Revenue from other services	77,286	89,363
Revenue from goods sold	54,186	27,327
Total	46,518,109	54,239,628

For the period ended as at 30 September 2025

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

2. REVENUE FROM CONTRACTS WITH CUSTOMERS (continued)

	Reported period completed on September 30th 2025	Reported period completed on September 30th 2024
Europe	-	1,564,391
Export	-	1,564,391
Internal market sales	46,518,109	52,675,238
Total sales	46,518,109	54,239,628

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:

	Reported period completed on September 30th 2025	Reported period completed on September 30th 2024
Rental revenue from office space	365,082	360,812
Total	365,082	360,812

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.

For the period ended as at 30 September 2025

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

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:

	Reported period completed on September 30th 2025	Reported period completed on September 30th 2024
Other operating income: - earnings from sale of waste	-	8,210
- gain from disposal of fixed assets	40,494	59,065
- earnings from compensations and penalties	24,138	-
- other	74,675	83,792
Total	139,307	151,067

3.2. Expenses with third-party services

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

	Reported period completed on September 30th 2025	Reported period completed on September 30th 2024
Travel expenses*)	983,352	1,888,962
Maintenance and repair expenses*)	1,153,480	1,471,106
Royalties and rental expenses	1,248,047	1,190,134
Insurance premiums	613,035	541,560
Postage and telecommunications	15,820	11,889
Bank commissions and similar charges	15,230	19,494
Entertaining, promotion and advertising	36,731	75,016
Goods transportation services*)	2,624,274	3,330,008
Well services rendered – by subcontractors*)	787,347	476,358
Outsourced activities services	1,400,299	1,814,312
Dedicated management assistance and specialized technical consulting services	1,019,740	1,392,884
Others	848,825	821,192
Security services	706,180	612,842
Consultancy and audit	176,139	208,808
Total	11,628,499	13,854,565

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.

During the first three quarters 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 787,347 for the reported period (2024: RON 476,358).

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

<-- PDF CHUNK SEPARATOR -->

For the period ended as at 30 September 2025

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

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:

	Reported period completed on September 30th 2025	Reported period completed on September 30th 2024
Compensations, fines, penalties	23,124	2,293
Amounts or goods granted as sponsorship	69,039	63,834
Write-off trade receivables and sundry debtors	2,715	-
Destroyed / improper stocks	-	45,277
Other operating expenses	6	6
Total	94,884	111,410

3.4. Taxes, duties and similar expenses

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

	Reported period completed on September 30th 2025	Reported period completed on September 30th 2024
Tax on land	49,545	41,105
Tax on buildings	292,015	192,954
Tax on special constructions	3,425	0
Tax on vehicles	301,012	341,656
Specific turnover tax	248,837	0
Other taxes	12,781	9,296
Total	907,615	585,011

4. FINANCIAL EXPENSES AND REVENUES

4.1. Financial revenues

	Reported period completed on September 30th 2025	Reported period completed on September 30th 2024
Interest income, from which:	2,744,686	2,941,629
Income obtained from the entities within the group	2,735,115	2,930,005
Income from exchange rate differences	54,644	31,837
Other financial income	521	202
Total financial income	2,799,851	2,973,668

The line "Income obtained from the entities within the group" in amount of RON 2,735,115 (2024: RON 2,930,005) represents interest revenue from cash-pooling. For more details, including EIR please refer to Note 19.

4.2. Financial expenses

	Reported period completed on September 30th 2025	Reported period completed on September 30th 2024
Expenses from exchange rate differences	262,547	42,417
Other financial expenses, out of which	246,873	380,029
Interest expense on the lease liability	246,352	379,819
Total financial expenses	509,420	422,446

For the period ended as at 30 September 2025

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

5. PAYROLL COSTS

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

	Reported period completed on September 30th 2025	Reported period completed on September 30th 2024
Expenses related to salaries and allowances	16,996,063	16,444,065
Other expenses with employees benefits	669,275	431,738
Contributions to special funds	199,707	171,637
Expenses related to the social insurances	386,853	373,527
Total	18,251,898	17,420,967

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 September 2025	30 September 2024
Net result attributable to shareholders Weighted average number of shares	1,161,563 278,190,900	5,280,453 278,190,900
Basic earnings per share (RON / share)	0.0042	0.0190

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.

For the period ended as at 30 September 2025

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

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	-	13,928	3,084	3,025,003	3,042,015
Disposals	-	(41,671)	(1,073,681)	-	(1,115,352)
Transfers	-	249,397	2,813,007	(3,062,404)	-
On 30 September 2025	5,438,555	9,083,338	89,331,882	2,237,757	106,091,530
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	-	274,323	2,265,932	-	2,540,255
Disposals	-	(17,172)	(1,072,328)	-	(1,089,500)
Impairment	-	-	-	-	-
On 30 September 2025	-	4,642,404	78,467,349	-	83,109,754
Net book value
On 30 September 2025	5,438,555	4,440,934	10,864,533	2,237,757	22,981,776
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 three quarters of the year 2025.

All presented tangible assets are the property of the Company.

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

As of 30 September 2025 total gross book value of property, plant and equipment items that are fully depreciated is RON 21,656,675 (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.

	30.09.2025	31.12.2024
Initial balance on 1 January	395,594	414,197
Depreciation expenses	(13,952)	(18,603)
Ending balance	381,642	395,594

For the period ended as at 30 September 2025

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

8. INVESTMENT PROPERTIES (continued)

	Reported period completed on September 30th 2025	Reported period completed on September 30th 2024
Income from rents obtained from real estate investments	12,344	12,286
Direct operational expenses (including repairs and maintenance) which generate income from rents	(36,993)	(28,404)
Net result from investment property recorded at cost	(24,648)	(16,118)

At 30 September 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 Transfers	(4,296) -	(4,296) -
On 30 September 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	9,325	9,325
Disposal	(4,296)	(4,296)
On 30 September 2025	803,140	803,140
Net book value
On 30 September 2025	11,399	11,399
On 31 December 2024	20,724	20,724
On 1 January 2024	59,651	59,651

For the period ended as at 30 September 2025

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

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 September 2025	31 December 2024	30 September 2025
Rompetrol Logistics SRL	Long term investment	2002/2003/2007	6.98%	6.98%	19,159,842	19,159,842
Rompetrol Rafinare SA* Total	Long term investment	2003/2004	0.05%	0.05%	919,823 20,079,665	919,823 20,079,665

^*Company listed on Bucharest Stock Exchange under RRC symbol.

For the period ended as at 30 September 2025

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

11. OTHER FINANCIAL ASSETS

	30 September 2024	31 December 2024
Collateral account for guarantee letters with maturity over one year Specific account for dividends Specific accounts for other guarantee	5,192,739 1,298,936 34,496	9,742,682 1,073,873 34,496
Other financial assets	6,526,172	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
LG9000007786	OMV PETROM S.A.	RON	689,103	2-Feb-23	31-Mar-28	RON	689,103
LG9000024179	OMV PETROM S.A.	RON	810,026	19-Aug-24	31-Dec-29	RON	810,026
LG9000024304	OMV PETROM S.A.	RON	470,617	19-Aug-24	31-Dec-28	RON	470,617
LG00888-02- 1048506	OMV PETROM S.A.	RON	255,101	9-Aug-24	30-Sep-25	RON	255,101
LG9000021340	OMV PETROM S.A.	RON	1,666,949	23-May-24	31-Mar-27	RON	1,666,949
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	943,516	23-Nov-23	4-Dec-26	RON	943,516
Total collateral	Total collateral accounts with maturity over one year as of 30 September 2025						5,192,739

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 ov	er one year	as of 31 Dec	cember 2024			9,742,682

For the period ended as at 30 September 2025

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

12. INVENTORIES

	30 September 2025	31 December 2024
Cement and additives	4,028,988	3,343,281
Spare parts equipment	1,754,307	1,902,762
Other inventories	319,993	233,439
Total inventories, net	6,103,288	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 September 2025	384,179

13. TRADE AND OTHER RECEIVABLES

	30 September 2025	31 December 2024
Trade receivables - third parties	12,819,879	14,244,292
Trade receivables with affiliated entities (Note 19)	31,846	35,257
Allowance for trade receivables – third parties	(1,312,307)	(1,282,951)
Allowance for trade receivables – affiliated entities (Note 19)	-	(7,732)
Total trade receivables, net	11,539,418	12,988,866
Other receivables – third parties	292,937	231,152
Other receivables with the affiliated entities (Note 19)	-	154,019
Other receivables with state budget	34,775	23,890
Allowance for other receivables – third parties	(213,790)	(213,790)
Allowance for other receivables – affiliated entities (Note 19)	-	(152,580)
Total other receivables, net	113,922	42,691
Total receivables, net	11,653,340	13,031,556

For the period ended as at 30 September 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	52	18,813	18,865
Unused amounts, reversed	(164,073)	(2,584)	(166,657)
Amounts written-off	-	-	-
Exchange rate differences	-	16,836	16,836
On 30 September 2025	458,607	1,067,490	1,526,097

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
			31 – 60	61- 90	91 - 180	181 - 360
At 30 September 2025	Current	< 30 days	days	days	days	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	11,322,547	178,905	6,862	8,049	20,118	46	1,315,198	12,851,725
Expected credit loss	(1,829)	(5,324)	(1,561)	(4,835)	(8,301)	(42)	(1,290,416)	(1,312,307)
					Total trade receivables
			31 – 60	61- 90	91 - 180	181 - 360
At 31 December 2024	Current	< 30 days	days	days	days	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)

For the period ended as at 30 September 2025

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

14. OTHER CURRENT ASSETS

	30 September 2025	31 December 2024
Advance expenses for car insurance	234,640	322,387
Advance expenses for vignette	111,895	105,780
Advance expenses for business insurance	117,142	468,568
Advance expenses for authorizations, transportation licenses, subscriptions, others	335,201	121,645
Other current assets TOTAL	798,879	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 September 2025	31 December 2024
Bank accounts in RON	1,917	14,081
Bank accounts in foreign currency	-	1,742
Short term deposits in RON	408,461	244,032
Short term deposits in foreign currency	301,014	-
Petty cash in RON	7,816	18,359
Petty cash in foreign currency	17,537	19,791
Total cash and short term deposits	736,746	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 September 2025 was of RON 40,364,636 (2024: RON 46,818,063), being ready to use without restriction, depending on the necessity.

For the period ended as at 30 September 2025

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

15. CASH AND DEPOSITS (continued)

15.1 COLLATERAL CASH FOR LETTERS OF GUARANTEE

The detail of the collateral deposits as at 30 September 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
LG00888-02-1169199 45189 Total collateral deposits	OMV PETROM S.A. S.N.G.N. ROMGAZ S.A.	RON RON	380,880 154,735	29-Sep-25 29-Apr-24	30-Sep-26 7-May-25	RON RON	380,880 154,735 132,342

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

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

For the period ended as at 30 September 2025

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 September 2025.

	30 September 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 September 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 September 2025, as well as on 31 December 2024 and is presented in the table below:

	30 September 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

For the period ended as at 30 September 2025

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

17. LEASES

17.1 The right-of-use assets

The statement of the identified assets as of 30 September 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 September 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	1,307,690	- -	1,307,690
On 30 September 2025	6,466,932	-	6,466,932
Net book value
On 30 September 2025	10,330,354	-	10,330,354
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.

For the period ended as at 30 September 2025

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

17. LEASES (continued)

17.2 Lease liability

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

	30 September 2025	31 December 2024
At 1 January	6,172,805	8,805,636
Additions during the period	1,494,992	-
Remeasurement of lease contract	-	(7,214)
Interest associated to lease liability	246,352	475,418
Lease instalments	(2,390,028)	(3,129,029)
Exchange rate difference for liability	161,618	27,995
Balance	5,685,741	6,172,806
Current	3,015,729	2,568,984
Non-current	2,670,012	3,603,823

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:

	30 September 2025	30 September 2024
Depreciation expense of right of use assets	1,307,690	1,212,568
Interest expense on lease liability	246,352	379,819
Expense relating to short-term leases	142,427	80,700
Variable lease payments	9,135	15,077
Total amounts recognised in profit or loss account	1,705,605	1,688,164

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

18. TRADE PAYABLES AND SIMILAR LIABILITIES (CURRENT)

	30 September 2025	31 December 2024
Trade payables - third parties	2,937,110	4,812,119
Trade payables with affiliated entities	1,089,537	660,367
Advances	22,807	22,009
Salaries	1,969,659	1,921,702
Dividends to be paid	4,585,450	3,926,559
Other taxes	860,007	730,744
Other liabilities	6,025	-
Total	11,470,595	12,073,500

For the period ended as at 30 September 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

For the period ended as at 30 September 2025

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

19. PRESENTATION OF THE AFFILIATED PARTIES (continued)

Receivables

	30 September 2025	31 December 2024
KMG Rompetrol SRL	40,622,716	47,109,341
Rompetrol Logistics SRL	30,252	28,194
KMG Rompetrol Services Center SRL	1,594	770
Total	40,654,562	47,138,305

Liabilities

	30 September 2025	31 December 2024
KMG Rompetrol SRL	663,974	204,311
Rompetrol Downstream SRL	322,877	397,960
KMG Rompetrol Services Center SRL	102,686	58,096
Total	1,089,537	660,367

Sales

	Q3 2025	Q3 2024
KMG Rompetrol SRL	2,735,115	2,930,005
Rompetrol Logistics SRL	227,518	195,064
KMG Rompetrol Services Center SRL	5,878	5,820
Oilfield Exploration Business Solutions SA	109	109
Rompetrol Rafinare S.A.	504	218
Rominserv SRL	-	143
Total	2,969,125	3,131,359

Acquisition of goods and services

	Q3 2025	Q3 2024
Rompetrol Downstream SRL	3,240,041	4,153,904
KMG Rompetrol SRL	2,632,398	3,429,884
KMG Rompetrol Services Center SRL	849,798	805,272
Rompetrol Quality Control SRL	363	1,089
Total	6,722,600	8,390,149

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 46,375,222, generating interest in amount of RON 2,735,115. The value of these receivables as of 30 September 2025 was of RON 40,622,716.

For the period ended as at 30 September 2025

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

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 September 2025	Balance existing as of 30 September 2025
Cash Optimization System implementation of The KMG Rompetrol Group companies (cash pooling) Total	12 months, with automatically extension	15-Sep-14	15-Sep-26	Based on ROBOR OVERNIGHT	RON	Depending on the working capital needs	291,278 291,278	46,818,063 46,818,063	258,080 258,080	40,364,636 40,364,636

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.

For the period ended as at 30 September 2025

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

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 September 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 353,917 (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.

For the period ended as at 30 September 2025

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

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 September 2025
Balance	(70.996)	6.407	(77.402)
Monetary assets	20.731	6.407	14.324
Monetary liabilities	(91.727)	-	(91.727)

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 92% of the total turnover registered for the first nine months 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.

For the period ended as at 30 September 2025

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

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 79% of the Company's debt will mature in less than one year at 30 September 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.

For the period ended as at 30 September 2025

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

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:

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	47,716	2,748,554	115,720	25,121	-	2,937,110
Trade payables with affiliated entities	-	1,089,537	0	0	-	1,089,537
Lease liabilities	-	498,953	2,264,228	2,922,560	-	5,685,741
Dividends to be paid	4,585,450	0	0	0	-	4,585,450
Other liabilities	-	25	6,000	0	-	6,025
Total year 2025	4,633,166	4,337,068	2,385,948	2,947,681	-	14,303,863
				Between
	On	Under	Between 3 and	1 and 5	Over
Trade payables and similar liabilities	demand	3 months	12 months	years	5 years	Total
Trade payables - third parties	81,035	4,156,599	111,463	463,022	-	4,812,118
Trade payables with affiliated entities Lease liabilities	416,854 -	243,513 423,120	- 1,928,985	- 3,820,702	- -	660,367 6,172,807
Dividends to be paid	3,926,559	-	-	-	-	3,926,559
Other liabilities	-	-	-	-	-	-

22. EVENIMENTE ULTERIOARE PERIOADEI DE RAPORTARE

On October 31, 2025, the Company recorded the receipt of interim dividends distributed by the affiliate Rompetrol Logistics S.R.L. in the net amount of RON 6,007,975.

Administrator, Prepared by,

FLOREA Georgian Stefan MOISE Luiza-Roxana Finance Manager

Signature Signature

AFFIDAVIT

The undersigned, Yedil Utekov, in capacity of Chairman of the Board, Georgian Stefan Florea, in capacity of General Manager and Luiza Roxana Moise in capacity of Finance Manager, we declare on our own responsibility that, in our opinion, the financial statements for the third quarter of 2025, prepared in accordance with the applicable accounting standards, give a true and fair view of the assets, liabilities, financial position, profit and loss account of the issuer and of its subsidiaries, and the Report for the third quarter of 2025, prepared in accordance with ASF Regulation no. 5/2018, as subsequently amended and supplemented and containing the information set out in Annex no. 13 thereto, includes a fair analysis of the issuer's development and performance as well as a description of the main risks and uncertainties specific to the business.

Chairman of the Board of Directors,

Yedil Utekov

Member of the Board, General Manager, Stefan Georgian Florea

Director Economic, Luiza Roxana Moise