Granolio d.d. — Interim / Quarterly Report 2026

Apr 30, 2026

Consolidated financial results for the three months period ended 31 March 2026 (unaudited)

Granolio

---

1

General information on Granoliod.d.

GRANOLIO d.d. ("The Company") is a joint-stock company registered with the Commercial Court of Zagreb, Croatia. The Company's tax number (OIB) is 59064993527, and its registration number (MBS) 080111595.

The Company's headquarter is located in Zagreb at Budmanijeva 5.

Subsidiaries

The Company holds 100% of the shares in Zdenačkafarma d.o.o.

It has a controlling influence in the decision-making process in Zdenkamliječniproizvodi d.o.o. which has been consolidated into the Granolio Group since 2011.

Ownership in subsidiaries is presented in the organizational chart below:

The Group monitors its business operations through four business segments:

• Milling
• Dairy and cheese production
• Wholesale trade
• Other

Milling is a segment that includes the production and sale of flour. This business segment is represented exclusively in the parent company.

Dairy and cheese production (hereinafter "Dairy") includes the production and sale of cheese realized in the company Zdenka - mliječni proizvodi d.o.o. and the production and sale of milk on a dairy farm in the company Zdenačka farma d.o.o.

Wholesale is a segment that includes trade in cereals, oilseeds and raw materials for sowing represented in the company Granolio d.d.

The Other segment includes cattle fattening, silos and warehousing services, goods reception services and the like. All of the above is represented in the parent company.

---

Granolio Group's financial indicators for the three-month period of 2026

In thousands of EUR

	1-3 2026	1-3 2025	change
Operating income	24.839	26.209	(1.370)	(5%)
Operating expenses	(24.217)	(25.248)	1.031	4%
EBIT	622	961	(339)	(35%)
EBIT margin	3%	4%
EBITDA	1.711	1.974	(263)	(13%)
EBITDA margin	7%	8%
Net financial result	(455)	(504)	49	10%
Net result for the period	167	458	(291)	64%
Attributable to the Group	93	429	(336)	(78%)
Non-controlling interest	74	29	45	155%

The Group's EBITDA in the three-month period of 2026 amounts to EUR 1.7 million.

The net financial result represents the difference between financial income and financial expenses.

In thousands of EUR

	31.3.2026	31.12.2025	change
Net assets (Capital and reserves)*	28.325	28.287	39	0%
Total debt	37.985	34.194	3.791	11%
Cash and cash equivalents	298	1.222	(925)	(76%)
Given loans, deposits and similar**	3.663	3.734	(71)	(2%)
Net debt	34.024	29.238	4.787	16%
Net debt/ EBITDA	4,59	3,81
EBITDA for the last 12 months	7.411	7.674

• Net assets = capital and reserves attributable to the equity holders of the parent and to the minority interests
  ** Loans given, securities and deposits

The Group's total debt has increased due to the new loans of Granolio d.d. and Zdenka-mliječni proizvodi d.o.o.

---

Separate business results for the three-month period of 2026

Granolio d.d.

In thousands of EUR

	1-3 2026	1-3 2025	change
Operating income	15.609	16.957	(1.348)	(8%)
Operating expenses	15.324	16.371
EBIT	285	586	(301)	(51%)
margin %	2%	3%
EBITDA	671	961	(290)	(30%)
margin %	4%	6%
Net financial result	(2)	551	(553)	(100%)
Net result	283	1.137	(854)	(75%)
margin %	1,8%	6,7%

The net financial result represents the difference between financial income and financial expenses.

Zdenka - mliječni proizvodi d.o.o.

In thousands of EUR

	1-3 2026	1-3 2025	change
Operating income	8.667	8.887	(220)	(2%)
Operating expenses	8.444	8.806
EBIT	223	81	142	(175%)
margin %	3%	1%
EBITDA	830	595	235	39%
margin %	10%	7%
Net financial result	(76)	(24)	(52)	(217%)
Net result	148	57	91	160%
margin %	2%	1%

In the three-month period of 2026, the Company generated higher EBITDA by 39% compared to the same period last year.

Zdenačka farma d.o.o.

In thousands of EUR

	1-3 2026	1-3 2025	change
Operating income	1.566	1.412	154	11%
Operating expenses	1.454	1.118
EBIT	113	294	(181)	(62%)
margin %	7%	21%
EBITDA	209	418	(209)	(50%)
margin %	13%	30%
Net financial result	(28)	(30)	2	7%
Net result	84	264	(180)	(68%)
margin %	5%	19%

---

In the three-month period of 2026, the Company generated revenues higher by 11% compared to the same period last year due to higher price of milk.

Employees

In the three-month period of 2026, the Group employed 473 employees based (in the three-month period of 2025: 471 employees).

Environment

Regarding environmental protection, the Group has implemented comprehensive and systematic solutions and established environmentally friendly production processes.

Other

The supervisory Board has approved Granolio Group's financial statements for the three-month period 2026. year.

4

---

Annex 1

ISSUER'S GENERAL DATA

Reporting period: 1.1.2026 to 31.12.2026

Year: 2026

Quarter: 1

Quarterly financial statements

Registration number (MB): 01244272
Issuer's home Member: HRVATSKA
State code:

Entity's registration number (MBS): 08011595

Personal identification number (OIB): 59064993527
LEI: 213800O3Z6ZSDBAKG321

Institution code: 15989

Name of the issuer: GRANOLIO d.d.

Postcode and town: 10000
ZAGREB

Street and house number: Budmanijeva 5

E-mail address: granolio@granolio.hr

Web address: www.granolio.hr

Number of employees (end of the reporting): 529

Consolidated report: KD
(KN-not consolidated/KD-consolidated)

Audited: RN
(RN-not audited/RD-audited)

Names of subsidiaries (according to IFRS):
Registered office:
MB:

GRANOLIO d.d.	ZAGREB	1244272
ZDENAČKA FARMA d.o.o.	VELIKI ZDENCI	2095777
ZDENKA-MLIJEČNI PROIZVODI d.o.o.	VELIKI ZDENCI	1623982

Bookkeeping firm: No
(Yes/No)
(name of the bookkeeping firm)

Contact person: Mirjana Ketava
(only name and surname of the contact person)

Telephone: 01/6320-233

E-mail address: mketava@granolio.hr

Audit firm: BDO CROATIA
(name of the audit firm)

Certified auditor: VEDRANA STIPIC
(name and surname)

---

BALANCE SHEET

balance as at 31.03.2026

in EUR

GRANOLIO d.d.

Item	ADP code	Last day of the preceding business year	At the reporting date of the current period
1	2	3	4
A) RECEIVABLES FOR SUBSCRIBED CAPITAL UNPAID	001	0,00	0,00
B) FIXED ASSETS (ADP 003+010+020+031+036)	002	51.915.245,15	51.493.045,58
I INTANGIBLE ASSETS (ADP 004 to 009)	003	1.186.674,79	1.292.927,70
1 Research and development	004	0,00	0,00
2 Concessions, patents, licences, trademarks, software and other rights	005	1.186.674,79	1.292.927,70
3 Goodwill	006	0,00	0,00
4 Advances for the purchase of intangible assets	007	0,00	0,00
5 Intangible assets in preparation	008	0,00	0,00
6 Other intangible assets	009	0,00	0,00
II TANGIBLE ASSETS (ADP 011 to 019)	010	50.684.198,66	50.155.746,00
1 Land	011	2.115.618,11	2.143.118,17
2 Buildings	012	26.230.228,82	26.093.428,54
3 Plant and equipment	013	18.220.544,38	17.886.394,13
4 Tools, working inventory and transportation assets	014	479.354,21	443.483,59
5 Biological assets	015	1.056.782,49	1.063.560,08
6 Advances for the purchase of tangible assets	016	0,00	0,00
7 Tangible assets in preparation	017	1.675.463,42	1.619.872,38
8 Other tangible assets	018	13.911,37	13.593,25
9 Investment property	019	892.295,86	892.295,86
III FIXED FINANCIAL ASSETS (ADP 021 to 030)	020	44.371,70	44.371,88
1 Investments in holdings (shares) of undertakings within the group	021	0,00	0,00
2 Investments in other securities of undertakings within the group	022	0,00	0,00
3 Loans, deposits, etc. to undertakings within the group	023	0,00	0,00
4 Investments in holdings (shares) of companies linked by virtue of participating interests	024	0,00	0,00
5 Investment in other securities of companies linked by virtue of participating interests	025	0,00	0,00
6 Loans, deposits etc. to companies linked by virtue of participating interests	026	0,00	0,00
7 Investments in securities	027	31.363,50	31.363,50
8 Loans, deposits, etc. given	028	12.902,02	12.902,20
9 Other investments accounted for using the equity method	029	0,00	0,00
10 Other fixed financial assets	030	106,18	106,18
IV RECEIVABLES (ADP 032 to 035)	031	0,00	0,00
1 Receivables from undertakings within the group	032	0,00	0,00
2 Receivables from companies linked by virtue of participating interests	033	0,00	0,00
3 Customer receivables	034	0,00	0,00
4 Other receivables	035	0,00	0,00
V DEFERRED TAX ASSETS	036	0,00	0,00
C) CURRENT ASSETS (ADP 038+046+053+063)	037	36.416.670,29	37.685.335,21
I INVENTORIES (ADP 039 to 045)	038	12.020.908,67	12.176.217,02
1 Raw materials and consumables	039	7.068.104,92	6.614.674,69
2 Production in progress	040	2.173.162,34	2.104.415,57
3 Finished goods	041	1.908.218,70	2.425.872,61
4 Merchandise	042	871.422,71	1.031.254,15
5 Advances for inventories	043	0,00	0,00
6 Fixed assets held for sale	044	0,00	0,00
7 Biological assets	045	0,00	0,00
II RECEIVABLES (ADP 047 to 052)	046	19.483.389,56	21.592.445,35
1 Receivables from undertakings within the group	047	664.218,85	629.813,16
2 Receivables from companies linked by virtue of participating interests	048	0,00	0,00
3 Customer receivables	049	16.365.825,21	18.637.841,56
4 Receivables from employees and members of the undertaking	050	30,44	86,84
5 Receivables from government and other institutions	051	1.167.754,66	679.046,22
6 Other receivables	052	1.285.560,40	1.645.657,57
III CURRENT FINANCIAL ASSETS (ADP 054 to 062)	053	3.689.919,27	3.618.857,67
1 Investments in holdings (shares) of undertakings within the group	054	0,00	0,00
2 Investments in other securities of undertakings within the group	055	0,00	0,00
3 Loans, deposits, etc. to undertakings within the group	056	1.109.725,35	1.049.725,35

---

4 Investments in holdings (shares) of companies linked by virtue of participating interests	057	0,00	0,00
5 Investment in other securities of companies linked by virtue of participating interests	058	0,00	0,00
6 Loans, deposits etc. to companies linked by virtue of participating interests	059	0,00	0,00
7 Investments in securities	060	19.858,46	19.858,46
8 Loans, deposits, etc. given	061	2.560.335,46	2.549.273,86
9 Other financial assets	062	0,00	0,00
IV CASH AT BANK AND IN HAND	063	1.222.452,79	297.815,17
D ) PREPAID EXPENSES AND ACCRUED INCOME	064	169.547,94	529.398,54
E) TOTAL ASSETS (ADP 001+002+037+064)	065	88.501.463,38	89.707.779,33
OFF-BALANCE SHEET ITEMS	066	0,00	0,00
LIABILITIES
A) CAPITAL AND RESERVES (ADP 068 to	067	28.286.650,35	28.325.259,74
I INITIAL (SUBSCRIBED) CAPITAL	068	2.523.910,00	2.523.910,00
II CAPITAL RESERVES	069	11.171.232,79	11.171.232,79
III RESERVES FROM PROFIT (ADP 071+072-073+074+075)	070	1.348.867,02	1.348.867,22
1 Legal reserves	071	1.239.188,77	1.239.188,97
2 Reserves for treasury shares	072	109.678,25	109.678,25
3 Treasury shares and holdings (deductible item)	073	0,00	0,00
4 Statutory reserves	074	0,00	0,00
5 Other reserves	075	0,00	0,00
IV REVALUATION RESERVES	076	4.865.938,48	4.766.321,82
V FAIR VALUE RESERVES AND OTHER (ADP 078 to 083)	077	0,00	0,00
1 Financial assets at fair value through other comprehensive income (i.e. available for sale)	078	0,00	0,00
2 Cash flow hedge - effective portion	079	0,00	0,00
3 Hedge of a net investment in a foreign operation - effective portion	080	0,00	0,00
4 Other fair value reserves	081	0,00	0,00
5 Exchange rate differences from translation of foreign operations (consolidation)	082	0,00	0,00
6 Exchange rate differences from translation into the presentation business	083	0,00	0,00
VI RETAINED PROFIT OR LOSS BROUGHT FORWARD (ADP 085-	084	3.188.190,86	4.070.203,06
1 Retained profit	085	3.188.190,86	4.070.203,06
2 Loss brought forward	086	0,00	0,00
VII PROFIT OR LOSS FOR THE BUSINESS YEAR (ADP 088-089)	087	760.528,03	92.831,54
1 Profit for the business year	088	760.528,03	92.831,54
2 Loss for the business year	089	0,00	0,00
VIII MINORITY (NON-CONTROLLING) INTEREST	090	4.427.983,17	4.351.893,31
B) PROVISIONS (ADP 092 to 097)	091	0,00	0,00
1 Provisions for pensions, termination benefits and similar	092	0,00	0,00
2 Provisions for tax liabilities	093	0,00	0,00
3 Provisions for ongoing legal cases	094	0,00	0,00
4 Provisions for renewal of natural resources	095	0,00	0,00
5 Provisions for warranty obligations	096	0,00	0,00
6 Other provisions	097	0,00	0,00
C) LONG-TERM LIABILITIES (ADP 099 to 109)	098	26.943.078,03	25.725.250,94
1 Liabilities to undertakings within the group	099	1.344.722,70	1.344.722,70
2 Liabilities for loans, deposits, etc. of undertakings within the group	100	0,00	0,00
3 Liabilities to companies linked by virtue of participating interests	101	0,00	0,00
4 Liabilities for loans, deposits etc. of companies linked by virtue of participating interests	102	0,00	0,00
5 Liabilities for loans, deposits etc.	103	265.445,62	266.445,61
6 Liabilities to banks and other financial institutions	104	23.922.729,36	22.767.350,16
7 Liabilities for advance payments	105	0,00	0,00
8 Liabilities to suppliers	106	175.724,22	175.724,22
9 Liabilities for securities	107	166.323,26	124.742,45
10 Other long-term liabilities	108	0,00	0,00
11 Deferred tax liability	109	1.068.132,87	1.046.265,80
D) SHORT-TERM LIABILITIES (ADP 111 to 124)	110	29.952.663,69	32.392.692,12
1 Liabilities to undertakings within the group	111	109.363,33	297.017,90
2 Liabilities for loans, deposits, etc. of undertakings within the group	112	0,00	0,00
3 Liabilities to companies linked by virtue of participating interests	113	0,00	0,00
4 Liabilities for loans, deposits etc. of companies linked by virtue of participating interests	114	0,00	0,00
5 Liabilities for loans, deposits etc.	115	4.736.051,20	4.736.051,58
6 Liabilities to banks and other financial institutions	116	3.592.596,63	9.745.892,69

---

7 Liabilities for advance payments	117	469.104,94	166.903,00
8 Liabilities to suppliers	118	18.869.184,15	14.615.692,69
9 Liabilities for securities	119	166.323,26	166.323,25
10 Liabilities to employees	120	676.598,12	652.115,98
11 Taxes, contributions and similar liabilities	121	644.979,73	1.316.998,20
12 Liabilities arising from the share in the result	122	0,00	0,00
13 Liabilities arising from fixed assets held for sale	123	0,00	0,00
14 Other short-term liabilities	124	688.462,29	695.696,83
E) ACCRUALS AND DEFERRED INCOME	125	3.319.071,35	3.264.576,53
F) TOTAL – LIABILITIES (ADP 067+091+098+110+125)	126	88.501.463,38	89.707.779,33
G) OFF-BALANCE SHEET ITEMS	127

---

STATEMENT OF PROFIT OR LOSS

for the period 01.01.2026 to 31.03.2026

in EUR

GRANOLIO d.d.

Item	ADP code	Same period of the previous year		Current period
		Cumulative	Quarter	Cumulative	Quarter
1	2	3	4	5	6
I OPERATING INCOME (ADP 002 to 008)	001	26.209.345,59	26.209.345,59	24.839.109,10	24.839.109,10
1 Income from sales with undertakings within the group	002	300,00	300,00	900,00	900,00
2 Income from sales	003	24.809.637,61	24.809.637,61	24.000.352,79	24.000.352,79
3 Income from the use of own products, goods and services	004	55.546,14	55.546,14	50.952,12	50.952,12
4 Other operating income with undertakings within the group	005	0,00	0,00	0,00	0,00
5 Other operating income (outside the group)	006	1.343.861,84	1.343.861,84	786.904,19	786.904,19
6 OPERATING EXPENSES (ADP 09+009+013+017+018+019+022+029)	007	25.247.923,95	25.247.923,95	24.216.663,56	24.216.663,56
1 Changes in inventories of work in progress and finished goods	008	-1.442.035,39	-1.442.035,39	-451.803,07	-451.803,07
2 Material costs (ADP 010 to 012)	009	22.165.679,96	22.165.679,96	19.907.278,98	19.907.278,98
a) Costs of raw materials and consumables	010	17.422.580,98	17.422.580,98	15.402.713,26	15.402.713,26
b) Costs of goods sold	011	2.800.367,13	2.800.367,13	2.643.529,04	2.643.529,04
c) Other external costs	012	1.942.731,85	1.942.731,85	1.861.036,68	1.861.036,68
3 Staff costs (ADP 014 to 016)	013	2.703.659,14	2.703.659,14	2.982.609,76	2.982.609,76
a) Net salaries and wages	014	1.730.504,12	1.730.504,12	1.878.384,39	1.878.384,39
b) Tax and contributions from salary costs	015	639.089,97	639.089,97	732.559,99	732.559,99
c) Contributions on salaries	016	334.065,05	334.065,05	371.665,38	371.665,38
4 Depreciation	017	1.012.230,83	1.012.230,83	1.088.634,23	1.088.634,23
5 Other costs	018	433.742,43	433.742,43	315.477,47	315.477,47
6 Value adjustments (ADP 020+021)	019	0,00	0,00	0,00	0,00
a) fixed assets other than financial assets	020	0,00	0,00	0,00	0,00
b) current assets other than financial assets	021	0,00	0,00	0,00	0,00
7 Provisions (ADP 023 to 028)	022	0,00	0,00	0,00	0,00
a) Provisions for pensions, termination benefits and similar	023	0,00	0,00	0,00	0,00
b) Provisions for tax liabilities	024	0,00	0,00	0,00	0,00
c) Provisions for ongoing legal cases	025	0,00	0,00	0,00	0,00
d) Provisions for renewal of natural resources	026	0,00	0,00	0,00	0,00
e) Provisions for warranty obligations	027	0,00	0,00	0,00	0,00
f) Other provisions	028	0,00	0,00	0,00	0,00
8 Other operating expenses	029	374.646,98	374.646,98	374.466,19	374.466,19
III FINANCIAL INCOME (ADP 031 to 040)	030	42.551,09	42.551,09	14.789,11	14.789,11
1 Income from investments in holdings (shares) of undertakings within	031	0,00	0,00	0,00	0,00
2 Income from investments in holdings (shares) of companies linked by virtue of participating interests	032	0,00	0,00	0,00	0,00
3 Income from other long-term financial investment and loans granted to undertakings within the group	033	0,00	0,00	0,00	0,00
4 Other interest income from operations with undertakings within the group	034	590,12	590,12	257,18	257,18
5 Exchange rate differences and other financial income from operations with undertakings within the group	035	0,00	0,00	0,00	0,00
6 Income from other long-term financial investments and loans	036	40.266,00	40.266,00	9.230,73	9.230,73
7 Other interest income	037	1.694,97	1.694,97	5.301,20	5.301,20
8 Exchange rate differences and other financial income	038	0,00	0,00	0,00	0,00
9 Unrealised gains (income) from financial assets	039	0,00	0,00	0,00	0,00
10 Other financial income	040	0,00	0,00	0,00	0,00
IV FINANCIAL EXPENSES (ADP 042 to 048)	041	546.137,20	546.137,50	470.492,53	470.492,53
1 Interest expenses and similar expenses with undertakings within the group	042	28.259,27	28.259,27	28.259,27	28.259,27
2 Exchange rate differences and other expenses from operations with	043	0,00	0,00	0,00	0,00
3 Interest expenses and similar expenses	044	511.915,00	511.915,00	436.433,14	436.433,14
4 Exchange rate differences and other expenses	045	0,00	0,00	0,00	0,00
5 Unrealised losses (expenses) from financial assets	046	0,00	0,00	0,00	0,00
6 Value adjustments of financial assets (net)	047	0,00	0,00	0,00	0,00
7 Other financial expenses	048	5.963,08	5.963,08	5.800,12	5.800,12
V SHARE IN PROFIT FROM UNDERTAKINGS LINKED BY VRITUE OF PARTICIPATING INTERESTS	049	0,00	0,00	0,00	0,00
VII SHARE IN PROFIT FROM JOINT VENTURES	050	0,00	0,00	0,00	0,00
VIII SHARE IN LOSS OF COMPANIES LINKED BY VRITUE OF PARTICIPATING INTEREST	051	0,00	0,00	0,00	0,00
VIII SHARE IN LOSS OF JOINT VENTURES	052	0,00	0,00	0,00	0,00
IX TOTAL INCOME (ADP 001+030+049+050)	053	26.251.896,68	26.251.896,68	24.853.898,21	24.853.898,21
X TOTAL EXPENDITURE (ADP 007+041+051+052)	054	25.794.061,30	25.794.061,30	24.687.156,09	24.687.156,09
XI PRE-TAX PROFIT OR LOSS (ADP 053-054)	055	457.835,38	457.835,38	166.742,12	166.742,12
1 Pre-tax profit (ADP 053-054)	056	457.835,38	457.835,38	166.742,12	166.742,12
2 Pre-tax loss (ADP 054-053)	057	0,00	0,00	0,00	0,00
XII INCOME TAX	058	0,00	0,00	0,00	0,00
XIII PROFIT OR LOSS FOR THE PERIOD (ADP 055-059)	059	457.835,38	457.835,38	166.742,12	166.742,12
1 Profit for the period (ADP 055-059)	060	457.835,38	457.835,38	166.742,12	166.742,12
2 Loss for the period (ADP 059-055)	061	0,00	0,00	0,00	0,00
DISCONTINUED OPERATIONS (to be filled in by undertakings subject to IFRS only with discontinued operations)
XIV PRE-TAX PROFIT OR LOSS OF DISCONTINUED OPERATIONS (ADP 063-064)	062	0,00	0,00	0,00	0,00
1 Pre-tax profit from discontinued operations	063	0,00	0,00	0,00	0,00
2 Pre-tax loss on discontinued operations	064	0,00	0,00	0,00	0,00
XV INCOME TAX OF DISCONTINUED OPERATIONS	065	0,00	0,00	0,00	0,00
1 Discontinued operations profit for the period (ADP 062-065)	066	0,00	0,00	0,00	0,00
2 Discontinued operations loss for the period (ADP 065-062)	067	0,00	0,00	0,00	0,00
TOTAL OPERATIONS (to be filled in only by undertakings subject to IFRS with discontinued operations)
XVI PRE-TAX PROFIT OR LOSS (ADP 055+062)	068	0,00	0,00	0,00	0,00
1 Pre-tax profit (ADP 068)	069	0,00	0,00	0,00	0,00
2 Pre-tax loss (ADP 068)	070	0,00	0,00	0,00	0,00
XVII INCOME TAX (ADP 058+065)	071	0,00	0,00	0,00	0,00
XVIII PROFIT OR LOSS FOR THE PERIOD (ADP 066-071)	072	0,00	0,00	0,00	0,00
1 Profit for the period (ADP 066-071)	073	0,00	0,00	0,00	0,00

---

2 Loss for the period (ADP 071-068)	074	0,00	0,00	0,00	0,00
APPENDIX to the P&L (to be filled in by undertakings that draw up consolidated annual financial statements)
XIX PROFIT OR LOSS FOR THE PERIOD (ADP 076+077)	075	457.835,38	457.835,38	166.742,12	166.742,12
1 Attributable to owners of the parent	076	429.268,89	429.268,89	92.831,54	92.831,54
2 Attributable to minority (non-controlling) interest	077	28.566,49	28.566,49	73.910,58	73.910,58
STATEMENT OF OTHER COMPREHENSIVE INCOME (to be filled in by undertakings subject to IFRS)
I PROFIT OR LOSS FOR THE PERIOD	078	0,00
II OTHER COMPREHENSIVE INCOME/LOSS BEFORE TAX (ADP 80 + 87)	079	0,00	0,00	0,00	0,00
III Items that will not be reclassified to profit or loss (ADP 081 to 085)	080	0,00	0,00	0,00	0,00
1 Changes in revaluation reserves of fixed tangible and intangible assets	081
2 Profit or loss arising from subsequent measurement of equity securities at fair value through other comprehensive income	082
3 Changes in the fair value of the financial liability at fair value through statement of profit or loss that is attributable to changes in the credit risk of that liability	083
4 Actuarial gains/losses on the defined benefit obligation	084
5 Other items that will not be reclassified	085
6 Income tax relating to items that will not be reclassified	086
IV Items that may be reclassified to profit or loss (ADP 088 to 095)	087	0,00	0,00	0,00	0,00
1 Exchange rate differences from translation of foreign operations	088
2 Exchange rate differences from translation into the presentation currency	089
3 Profit or loss arising from subsequent measurement of debt securities at fair value through other comprehensive income	090
4 Profit or loss arising from effective cash flow hedging	091
5 Profit or loss arising from effective hedge of a net investment in a foreign operation	092
6 Share in other comprehensive income/loss of companies linked by virtue of participating interests	093
7 Changes in fair value of the time value of an option	094
8 Changes in fair value of the forward elements of forward contracts	095
9 Other items that may be reclassified to profit or loss	096
10 Income tax relating to items that may be reclassified to profit or loss	097
V NET OTHER COMPREHENSIVE INCOME OR LOSS (ADP 080+087 - 086 - 097)	098	0,00	0,00	0,00	0,00
VI COMPREHENSIVE INCOME OR LOSS FOR THE PERIOD (ADP	099	0,00	0,00	0,00	0,00
APPENDIX to the Statement on comprehensive income (to be filled in by undertakings that draw up consolidated statements)
VII COMPREHENSIVE INCOME OR LOSS FOR THE PERIOD (ADP	100	457.835,38	457.835,38	166.742,12	166.742,12
1 Attributable to owners of the parent	101	429.268,89	429.268,89	92.831,54	92.831,54
2 Attributable to minority (non-controlling) interest	102	28.566,49	28.566,49	73.910,58	73.910,58

---

STATEMENT OF CASH FLOWS - indirect method

for the period 01.01.2026 . to 31..03.2026.

in EUR

GRANOLIO d.d.

Item	ADP code	Same period of the previous year	Current period
1	2	3	4
Cash flow from operating activities
1 Pre-tax profit	001	457.834,00	166.742,07
2 Adjustments (ADP 003 to 010):	002	1.485.453,31	1.490.106,11
a) Depreciation	003	1.012.231,20	1.088.634,23
b) Gains and losses from sale and value adjustment of fixed tangible and intangible assets	004	86.160,23	107.746,07
c) Gains and losses from sale and unrealised gains and losses and value adjustment of financial assets	005	0,00	0,00
d) Interest and dividend income	006	-1.226,40	-5.875,01
e) Interest expenses	007	536.221,13	463.886,90
f) Provisions	008	0,00	0,00
g) Exchange rate differences (unrealised)	009	0,00	0,00
h) Other adjustments for non-cash transactions and unrealised gains and losses	010	-147.932,85	-164.286,08
i) Cash flow increase or decrease before changes in working capital (ADP 001+002)	011	1.943.287,31	1.656.848,18
3 Changes in the working capital (ADP 013 to 016)	012	-5.613.883,00	-6.312.595,78
a) Increase or decrease in short-term liabilities	013	-3.361.996,00	-4.344.430,83
b) Increase or decrease in short-term receivables	014	-1.606.412,00	-1.821.277,57
c) Increase or decrease in inventories	015	-645.475,00	-146.887,38
d) Other increase or decrease in working capital	016	0,00	0,00
II Cash from operations (ADP 011+012)	017	-3.670.595,69	-4.655.747,60
4 Interest paid	018	-580.164,90	-365.528,23
5 Income tax paid	019	-140.257,47	-150.013,11
A) NET CASH FLOW FROM OPERATING ACTIVITIES (ADP 017 to 019)	020	-4.391.018,06	-5.171.288,94
Cash flow from investment activities
1 Cash receipts from sales of fixed tangible and intangible assets	021	0,00	0,00
2 Cash receipts from sales of financial instruments	022	0,00	0,00
3 Interest received	023	1.650,11	4.373,18
4 Dividends received	024	0,00	0,00
5 Cash receipts from repayment of loans and deposits	025	0,00	0,00
6 Other cash receipts from investment activities	026	0,00	0,00
III Total cash receipts from investment activities (ADP 021 to 026)	027	1.650,11	4.373,18
1 Cash payments for the purchase of fixed tangible and intangible assets	028	-1.068.294,00	-618.315,36
2 Cash payments for the acquisition of financial instruments	029	0,00	0,00
3 Cash payments for loans and deposits for the period	030	-3.842.763,15	71.061,82
4 Acquisition of a subsidiary, net of cash acquired	031	0,00	0,00
5 Other cash payments from investment activities	032	0,00	0,00
IV Total cash payments from investment activities (ADP 028 to 032)	033	-4.911.057,15	-547.253,54
B) NET CASH FLOW FROM INVESTMENT ACTIVITIES (ADP 027+033)	034	-4.909.407,04	-542.880,36
Cash flow from financing activities
1 Cash receipts from the increase in initial (subscribed) capital	035	0,00	0,00
2 Cash receipts from the issue of equity financial instruments and debt financial instruments	036	0,00	0,00
3 Cash receipts from credit principals, loans and other borrowings	037	10.832.812,83	5.816.928,75
4 Other cash receipts from financing activities	038	0,00	0,00
V Total cash receipts from financing activities (ADP 035 to 038)	039	10.832.812,83	5.816.928,75
1 Cash payments for the repayment of credit principals, loans and other borrowings and debt financial instruments	040	-720.365,12	-815.363,01
2 Cash payments for dividends	041	-1.000.000,00	-150.000,00
3 Cash payments for finance lease	042	-34.926,40	-20.453,18
4 Cash payments for the redemption of own shares and decrease in initial (subscribed) capital	043	0,00	0,00
5 Other cash payments from financing activities	044	-41.580,81	-41.580,81
VI Total cash payments from financing activities (ADP 040 to 044)	045	-1.796.872,33	-1.027.397,00
C) NET CASH FLOW FROM FINANCING ACTIVITIES (ADP 039+045)	046	9.035.940,50	4.789.531,75
1 Unrealised exchange rate differences in respect of cash and cash	047	0,00	0,00
D) NET INCREASE OR DECREASE IN CASH FLOW (ADP 020+034+046+047)	048	-264.484,60	-924.637,55
E) CASH AND CASH EQUIVALENTS AT THE BEGINNING OF THE	049	505.294,57	1.222.452,79
F) CASH AND CASH EQUIVALENTS AT THE END OF THE PERIOD (ADP 048+049)	050	240.809,97	297.815,24

---

STATEMENT OF CASH FLOWS - direct method

for the period _ to _

in EUR

Submitter:

Item	ADP code	Same period of the previous year	Current period
1	2	3	4
Cash flow from operating activities
1 Cash receipts from customers	001
2 Cash receipts from royalties, fees, commissions and other revenue	002
3 Cash receipts from insurance premiums	003
4 Cash receipts from tax refund	004
5 Other cash receipts from operating activities	005
I Total cash receipts from operating activities (ADP 001 to 005)	006	0,00	0,00
1 Cash payments to suppliers	007
2 Cash payments to employees	008
3 Cash payments for insurance premiums	009
4 Interest paid	010
5 Income tax paid	011
6 Other cash payments from operating activities	012
II Total cash payments from operating activities (ADP 007 to 012)	013	0,00	0,00
A) NET CASH FLOW FROM OPERATING ACTIVITIES (ADP 006 + 013)	014	0,00	0,00
Cash flow from investment activities
1 Cash receipts from sales of fixed tangible and intangible assets	015
2 Cash receipts from sales of financial instruments	016
3 Interest received	017
4 Dividends received	018
5 Cash receipts from the repayment of loans and deposits	019
6 Other cash receipts from investment activities	020
III Total cash receipts from investment activities (ADP 015 to 020)	021	0,00	0,00
1 Cash payments for the purchase of fixed tangible and intangible assets	022
2 Cash payments for the acquisition of financial instruments	023
3 Cash payments for loans and deposits	024
4 Acquisition of a subsidiary, net of cash acquired	025
5 Other cash payments from investment activities	026
IV Total cash payments from investment activities (ADP 022 to 026)	027	0,00	0,00
B) NET CASH FLOW FROM INVESTMENT ACTIVITIES (ADP 021 + 027)	028	0,00	0,00
Cash flow from financing activities
1 Cash receipts from the increase in initial (subscribed) capital	029
2 Cash receipts from the issue of equity financial instruments and debt financial instruments	030
3 Cash receipts from credit principals, loans and other borrowings	031
4 Other cash receipts from financing activities	032
V Total cash receipts from financing activities (ADP 029 to 032)	033	0,00	0,00
1 Cash payments for the repayment of credit principals, loans and other borrowings and debt financial instruments	034
2 Cash payments for dividends	035
3 Cash payments for finance lease	036
4 Cash payments for the redemption of own shares and decrease in initial	037
5 Other cash payments from financing activities	038
VI Total cash payments from financing activities (ADP 034 to 038)	039	0,00	0,00
C) NET CASH FLOW FROM FINANCING ACTIVITIES (ADP 033+039)	040	0,00	0,00
1 Unrealised exchange rate differences in respect of cash and cash	041
D) NET INCREASE OR DECREASE IN CASH FLOW (ADP 014 + 028 + 040 + 041)	042	0,00	0,00
E) CASH AND CASH EQUIVALENTS AT THE BEGINNING OF THE	043
F) CASH AND CASH EQUIVALENTS AT THE END OF THE PERIOD (ADP 042+043)	044	0,00	0,00

---

STATEMENT OF CHANGES IN EQUITY
for the period from 1.1.2006 to 31.1.2009

Line	Date	1st January 2010 to 31st January 2011	2nd January 2010 to 31st January 2011	3rd January 2010 to 31st January 2011	4th January 2010 to 31st January 2011	5th January 2010 to 31st January 2011	6th January 2010 to 31st January 2011	7th January 2010 to 31st January 2011	8th January 2010 to 31st January 2011	9th January 2010 to 31st January 2011	10th January 2010 to 31st January 2011	11th January 2010 to 31st January 2011	12th January 2010 to 31st January 2011	13th January 2010 to 31st January 2011	14th January 2010 to 31st January 2011	15th January 2010 to 31st January 2011	16th January 2010 to 31st January 2011	17th January 2010 to 31st January 2011
1	2	3	4	5	6	7	8	9	10	11	12	13	14	15	16	17	18	19
1. Revenue on the First Day of the previous business year	01	0.023 (0.023)	13.777 (0.023)	1.000 (0.000)	1.000 (0.000)	0.000	0.000	0.000	0.000 (0.000)	0.000	0.000	0.000	0.000	0.000	0.000	1.000 (0.000)	0.761 (0.000)	22.022 (0.000)
2. Purchases in the group	02																	0.000
3. Purchases in all the	03																	0.000
4. Revenues on the First Day of the previous business year (included) (1ST 17 to 31)	04	0.023 (0.023)	13.777 (0.023)	1.000 (0.000)	1.000 (0.000)	0.000	0.000	0.000	0.000 (0.000)	0.000	0.000	0.000	0.000	0.000	0.000	1.000 (0.000)	0.761 (0.000)	22.022 (0.000)
5. Purchases in the group	05																	0.000
6. Purchases in all the	06																	0.000
7. Changes in production revenues of the tangible and tangible assets	07																	0.000
8. Change in production revenues of the tangible and tangible assets	08																	0.000
9. Profit in due and pay from subsequent measurement of improvements of the value through other comprehensive investment for sale	09																	0.000
10. Profit in due and pay from subsequent measurement of improvements of the value through other comprehensive investment for sale	10																	0.000
11. Profit in due and pay from subsequent measurement of	11																	0.000
12. Other, changes in assets of related to assets	12																	0.000
13. Tax, tax, and income, as specified during or after the following from the last business year, settlement provisions and amounts for the introduction of profit	13																	0.000
14. Tax, tax, and income, as specified during or after the following from the last business year, settlement provisions and amounts for the introduction of profit	14																	0.000
15. Purchases in total (subscribed capital and by the tax issue up to settlement provisions)	15																	0.000
16. Purchases in total (subscribed capital and by the tax issue up to settlement provisions)	16																	0.000
17. Purchases in total (subscribed capital and by the tax issue up to settlement provisions)	17																	0.000

---

NOTES TO FINANCIAL STATEMENTS – QFS
(drawn up for quarterly periods)

Name of the Issuer: ___________

Personal Identification number (OIB): ___________

Reporting period: ___________

Notes to financial statements for quarterly periods include:

a) registration of business events relevant to understanding changes in the statement of financial position and financial performance for the quarterly reporting period of the issuer with respect to the last business year. Information is provided regarding these events and relevant information published in the last annual financial statement is updated (paragraphs 15 to 15c of the IAS 34 – Interim Financial Reporting)

b) information on the access to the latest annual financial statements, for the purpose of understanding information published in the notes to financial statements drawn up for the quarterly reporting period

c) a statement explaining that the same accounting policies are applied while drawing up financial statements for the quarterly reporting period as in the latest annual financial statements or, in the case where the accounting policies have changed, a description of the nature and effect of the changes (paragraph 164(a) of the IAS 34 – Interim Financial Reporting)

d) a description of the financial performance in the case of the issuer whose business is seasonal (paragraphs 37 and 39 of the IAS 34 – Interim Financial Reporting)

e) other disclosures prescribed by the IAS 34 – Interim Financial Reporting, and

f) in the notes to the quarterly financial statements, in addition to the information stated above, information in respect of the following matters shall be disclosed:

1. Issuer's name, registered office (address), legal form, country of establishment, entity's registration number and, if applicable, the indication whether the issuer is undergoing liquidation, bankruptcy proceedings, shortened termination proceedings or extraordinary administration

2. adopted accounting policies (only an indication of whether there has been a change relative to the previous period)

3. the total amount of any financial commitments, guarantees or contingencies that are not included in the balance sheet, and an indication of the nature and form of any valuable security which has been provided, any commitments concerning pensions of the issuer within the group or company linked by virtue of participating interest shall be disclosed separately

4. the amount and nature of individual items of income or expenditure which are of exceptional size or incidence

5. amounts owed by the issuer and falling due after more than five years, as well as the total debts of the issuer covered by valuable security furnished, with an indication of the nature and form of the security

6. average number of employees during the current period

7. where, in accordance with the regulations, the issuer capitalized on the cost of salaries in part or in full, information on the amount of the total cost of employees during the year broken down into the amount directly relating the costs of the period and the amount capitalized on the value of the assets during the period, showing separately the total amount of net salaries and the amount of taxes, contributions from salaries and contributions on salaries

8. where a provision for deferred tax is recognised in the balance sheet, the deferred tax balances at the end of the financial year, and the movement in those balances during the financial year

9. the name and registered office of each of the companies in which the issuer, either itself or through a person acting in their own name but on the issuer's behalf, holds a participating interest, showing the proportion of the capital held, the amount of capital and reserves, and the profit or loss for the latest financial year of the company concerned for which financial statements have been adopted; the information concerning capital and reserves and the profit or loss may be omitted where the company concerned does not publish its balance sheet and is not controlled by another company

10. the number and the nominal value or, in the absence of a nominal value, the accounting per value of the shares subscribed during the financial year within the limits of the authorised capital

11. the existence of any participation certificates, convertible debentures, warrants, options or similar securities or rights, with an indication of their number and the rights they confer

12. the name, registered office and legal form of each of the companies of which the issuer is a member having unlimited liability

13. the name and registered office of the company which draws up the quarterly consolidated financial statements of the largest group of companies of which the issuer forms part as a controlled group member

14. the name and registered office of the company which draws up the quarterly consolidated financial statements of the smallest group of companies of which the issuer forms part as a controlled group member and which is also included in the group of companies referred to in point 13

15. the place where copies of the quarterly consolidated financial statements referred to in points 13 and 14 may be obtained, provided that they are available

16. the nature and business purpose of the issuer's arrangements that are not included in the balance sheet and the financial impact on the issuer of these arrangements, provided that the risks or benefits arising from such arrangements are material and in so far as the disclosure of such risks or benefits is necessary for the purposes of assessing the financial position of the issuer

17. the nature and the financial effect of material events arising after the balance sheet date which are not reflected in the profit and loss account or balance sheet

Name of the Issuer: Granolin d.d.

Personal Identification number (OIB): 08084993527

Reporting period: 1. quarter

a) The financial statements have been prepared on the historical cost basis, except where stated otherwise.
The following statements have been prepared on the same concern basis and space the use of estimates and judgments in aspiring accounting policies.
The financial statements are prepared in compliance with comparative information.
(If significant accounting policies applied in the preparation of the financial statements have been disclosed in the audited annual financial statements.
The condensed financial statements have been prepared in accordance with International Accounting Standard 34 – Interim Financial Reporting. The condensed financial statements do not contain all the information and disclosures required for the annual financial statements and should be read together with the latest published annual financial statements available on the issuer's website www.granolin.fr.)
b) The notes to the financial statements are provided with the audited annual financial statements of the Group. The audited annual financial statements are available on the website www.granolin.fr.
c) The same accounting policies and methods are applied in obtaining the financial statements for the quarterly reporting period as in the latest annual financial statements.
d) The Group does not perform activities of a seasonal nature.
e) Other disclosures required under IAS 34 – Interim Financial Reporting are as follows:
Interest receivable on loans given within the group are stated within the item receivables from undertakings within the group and as at 31 March 2026 amount to EUR 630 thousand (31.12.2025.. EUR 664 thousand).

Staff costs in the Jan. - Mar 2026 period amount to EUR 2,950 thousand (Jan. - Mar 2025: EUR 2,759 thousand), of which net salaries amount to EUR 1,876 thousand (Jan. - Mar 2025: EUR 1,731 thousand), taxes and contributions from salaries amount to EUR 733 thousand (Jan. - Mar 2025: EUR 539 thousand) and contributions on salaries amount to EUR 372 thousand (Jan. - Mar 2025: EUR 334 thousand). For addition to the above information, the following information is disclosed in the notes to the quarterly financial statements:

1. Name of the Issuer: Granolin d.d., Ulica Pore Budmanija 6, 10 000 Zagreb.
   Legal form: Jeni-klock-calmanni
   Country of registration: Republic of Croatia
   Entity's registration number 08653-08011068
   Personal identification number (OIB): 08084993527

2. During 2025, accounting policies did not change.

3. The Granolin Group has not given any guarantees nor is it a co-delator to third parties in financial obligations.

4. There was no revenue nor expenditure of extraordinary size or occurrence.

5. Liabilities maturing after more than five years relates to loans received from banks in amount EUR 10.186.

6. Average number of employees during the current period: 928 (1-03 2026: 024).

7. The Company did not capitalize the cost of salaries in the business year.

8. Balance of deferred tax assets as at 31 March 2026 amounts to EUR 1,646 thousand. During 2026 deferred tax assets have decreased by EUR 22 thousand.

9. Granolin d.d. holds a participating interest in I.Zdenačka forma d.o.o., Mata Lovrata 118/b, Veliki Zdenci, OIB 35465243768, on 31.03.2026. Share in Equity is EUR 2,553 thousand. Total equity is EUR 3,633 thousand. Result for the period is EUR 64 thousand.

I.Zdenača=objektni proizvod d.o.o., Trg Indija Tomsilava 10, Veliki Zdenci, OIB 45631553790, on 31.03.2026. Share in Equity is EUR 3,414 thousand. Total equity is EUR 4,352 thousand. Result for the period is EUR 74 thousand.

1. The company had no subscription of shares.

2. The company has no certificates.

3. The company holds 100% of the company Zdenačka forma d.o.o., Veliki Zdenci, Mata Lovrata 118 i b, OIB 35465243768.

4. The company is the ultimate parent and is not a controlled member of another group.

5. The company is the parent company and there are no other companies in its group that have control over third companies.

6. The company prepares quarterly non-consolidated and consolidated financial statements which are published on the Zagreb Stock Exchange. Hards and the company's website www.granolin.fr.

7. The Company has no material arrangements with companies that are not included in the presented unconsolidated financial statements.

8. There were no significant events after the balance sheet date.

---

Notes to the consolidated report for the three months period ended

31 March 2026

Granolio

---

1. The company that is the subject of reporting

GRANOLIO d.d. ("The Company") is a joint-stock company registered with the Commercial Court of Zagreb, Croatia.

The Company's tax number (OIB) is 59064993527, and its registration number (MBS) 080111595.

The Company's headquarter is located in Zagreb at Budmanijeva 5.

The Company has General Assembly, Supervisory Board and Management Board.

1. Basis of preparation of financial statements and significant accounting policies

The same accounting policies are applied when preparing the financial statements for previous periods as in the last quarterly financial report.

1. Financial liabilities, guarantees or contingencies not included in the balance sheet

Guarantees and co-debts on loans were given to member of the group Zdenka-mliječni proizvodi d.o.o. in the amount of 2.292.492 EUR.

1. The amount and nature of individual items of income or expense of exceptional size or occurrence

There was no revenue or expenditure of extraordinary size or occurrence.

1. Liabilities maturing after more than five years and debts covered by valuables insurance provided by the Company

Loans received
000' EUR

	31 Mar 2026	2026	2027	2028	2029	from 2030
Loans received from banks	21.292	4.163	2.227	2.550	2.153	10.198
Loans received from third parties	6.344	4.734	1.610	-	-	-
Leasing	46	9	12	12	13	-
	27.682	8.906	3.849	2.562	2.166	10.198

Loans received from banks are secured by mortgage on asset, bills of exchange and promissory notes.

Liabilities for securities
000' EUR

	31 Mar 2026	2026	2027	2028	2029	from 2030
Liabilities for securities	291	125	166	-	-	-
	291	125	166	-	-	-

Liabilities under securities are secured by bills of exchange and promissory notes

---

1. Average number of employees during the business year

Average number of employees during the current period: 524.

1. Capitalized salary cost during the year

The Company did not capitalize the cost of salaries in the business year.

1. Deferred taxes

	31 Mar 2026
Balance 1 January 2026	1.068
Decrease	(22)
Balance 31 March 2026	1.046

1. Name and registered office of each company in which the issuer, either alone or through a person acting in its own name but on behalf of the issuer, holds a participating interest, stating the amount of capital held, the amount of total capital and reserves, and profit or loss

Zdenačka farma d.o.o., Mate Lovraka 118/b, Veliki Zdenci, OIB 35460243768

Zdenka-mliječni proizvodi d.o.o., Trg kralja Tomislava 15, Veliki Zdenci, OIB 45651553790

Investments as at 31 March 2026
000' EUR

	Share in Equity	Total Equity	Result for the period
ZDENAČKA FARMA d.o.o.	2.553	3.633	84
ZDENKA -MLIJEČNI PROIZVODI d.o.o.	3.414	4.352	74

1. Number and nominal value of shares subscribed during the business year within the authorized capital

The company had no subscription of shares.

1. Existence of any certificates of participation, convertible debentures, guarantees, options or similar securities or rights, indicating their number and the rights conferring The Group has no certificates of participation, convertible debentures, guarantees, options or the like securities or rights.

The company has no certificates.

---

1. Name, registered office and legal form of each company in which the issuer has unlimited liability The Group has no stake in companies with unlimited liability.

The company holds 100% of the company Zdenačka farma d.o.o., Veliki Zdenci, Mate Lovraka 118 / b, OIB 35460243768

1. Name and registered office of the company compiling the quarterly consolidated financial statements of the largest group of companies in which the issuer participates as a controlled member of the group

The company is the ultimate parent and is not a controlled member of another group.

1. Name and registered office of the company compiling the annual consolidated financial statements of the smallest group of companies in which the issuer participates as a controlled member and which is also included in the group of companies referred to in point 13.

The company is the ultimate parent and there are no other companies in its group that have control over third companies.

1. The place where copies of the quarterly consolidated financial statements referred to in points 13 and 14 can be obtained.

The company prepares quarterly non-consolidated and consolidated financial statements which are published on the Zagreb Stock Exchange, Hanfia and the company's website www.granolio.hr.

1. Nature and business purpose of arrangements of companies not included in the balance sheet and financial impact of those arrangements on the issuer, provided that the risks or rewards of such arrangements are material and to the extent that disclosure of such risks or rewards is necessary to assess the issuer's financial condition

The Company has no material arrangements with companies that are not included in the presented unconsolidated financial statements.

1. Nature and financial impact of significant events that occurred after the balance sheet date and were not reflected in the income statement or balance sheet

There were no significant events after the balance sheet date.

---

Granolio 30
ZRNO PO ZRNO. 30 GODINA.
Granolio d.d.
Ulica Pere Budmanija 5, HR-10000 Zagreb,
tel: +385 1 6320 200, faks: +385 1 6320 222, e-mail: granolio@granolio.hr, www.granolio.hr

Zagreb, 30 April 2026

Statement of Executives responsible for preparing financial statements for the three months period

Pursuant to the current Croatian Accounting Act (Official Gazette 109/07), the Management Board is required to ensure that the financial statements of Granolio d.d. for each financial period are prepared in accordance with the International Financial Reporting Standards (IFRS), issued by the International Accounting Standards Board (IASB) and that they give a true and fair view of the financial position and results of the Company's operations in the given period.

To the best of our knowledge, the complete shorten set of unaudited financial statements for the three months period give a true presentation of the Company's position as at 31 March 2026.

Reports prepared by:

BANNA
BANNA
BANNA
BANNA
BANNA
BANNA
BANNA
BANNA
BAN
BAN
BAN
BAN
BAN
BAN
BAN
BAN
BAN
BAN

MB: 1344272; OIB: 59064993527; IBAN HR6024020091100063532 Erste&Steiermarkische bank d.d., Rijeka, IBAN HR1423400091110416692 Privredna banka Zagreb d.d., Zagreb, IBAN HR5123900011100014291 Hrvatska poštanska banka d.d., Zagreb; temelji kapital: 2.523.914,00 EUR upišćen u cijelosti, podijeljen na 1.901.643 redovnih dionica serije A bez nominalnog iznosa; tvrtka je upisana u sudski register Trgovačkog suda u Zagrebu, MB5: 080111595; predsjednik Uprave: Hrvoje Filipović, članovi Uprave: Vladimir Kalčić i Devor Mitrović, predsjednik Nedzornog odbora: Vlatko Kordić

---

Granolio 30
ZRNO PO ZRNO. 30 GODINA.
Granolio d.d.
Ulica Pere Budmanija 5, HR-10000 Zagreb,
tel: +385 1 6320 200, faks: +385 1 6320 222, e-mail: granolio@granolio.hr, www.granolio.hr

Zagreb, 30 April 2026

Pursuant to the article 407. to 410. of the Capital market Law (Official Gazette 88/08, 146/08 and 74/09) the President of the Management Board of the Company Granolio d.d., Budmanijeva 5, Zagreb provides:

MANAGEMENT BOARD’S STATEMENT OF LIABILITY

The separate and consolidated financial statements of Granolio d.d. have been prepared pursuant to the International Financial Reporting Standards (IFRS) and Croatian Accounting Law.

The non-consolidated and consolidated financial statements for the period from 1 January 2026 till 31 March 2026 present complete and fair view of assets and liabilities, profit and loss, financial position and operations of the Company.

The management report for the three months period ended 31 March 2026 presents true and fair presentation of development and results of the Company’s operations with description of significant risks and uncertainties the Company is facing.

President of the Management Board
Granolio
Hrvoje Filipović
Signature: Hrvoje Filipović

Contact:
Granolio d.d.
Budmanijeva 5
10 000 Zagreb
Hrvatska

Tel: +385 1 6320 200
e-mail: trzistekapitala@granolio.hr

UNI
ISO 9001
BUREAU VERITAS
BNF
BUREAU VERITAS 1828

MB: 1244272; OIB: 59064993527; IBAN HR6024020061100062532 Erste&Steiermarkische bank d.d., Rijeka, IBAN HR1423400091110418692 Privredna banka Zagreb d.d., Zagreb, IBAN HR5123900011100014261 Hrvatska poštanska banka d.d., Zagreb; temelji kapital: 2.523.014,00 EUR uplaćen u cijelosti, podijeljen na 1.901.643 redovnih dionica serije A bez nominalnog iznosa; tvrtka je upisana u sudski registar Trgovačkog suda u Zagrebu, MBS: 080111595; predajednik Uprave: Hrvoje Filipović, članovi Uprave: Vladimir Kalčić i Davor Mitrović, predajednik Nedzernog odbora: Vlatko Kordić