Hrvatski Telekom d.d.

Quarterly Report • Oct 30, 2024

1

UNAUDITED NON-CONSOLIDATED INTERIM REPORT FOR THE HT INC.

JANUARY - SEPTEMBER 2024

HT INC. FINANCIAL HIGHLIGHTS

Revenue

As a result of positive business developments across consumer and business segment Hrvatski Telekom has in 9M 2024 recorded revenue growth, which was driven by strong performance in mobile, fixed service and system solutions.

Adjusted EBITDA before exceptional items after leases

Growth of adjusted EBITDA before exceptional items after leases in 9M 2024 driven by robust top-line development, offsetting investments in employees and continuing inflationary pressures.

Net profit after non-controlling interests

Net Profit reflects solid operating performance.

HT INC. FINANCIAL STATEMENTS - TFI-POD

Unaudited non-consolidated financial statements

STATEMENT OF THE MANAGEMENT BOARD OF HRVATSKI TELEKOM D.D.

Financial Statements of the company Hrvatski Telekom d.d., for the 9M 2024, consolidated and nonconsolidated, are not audited.

To the best of our knowledge, unaudited financial statements of the company Hrvatski Telekom d.d. (hereinafter: "Company") and unaudited consolidated financial statements of the Company and affiliated companies thereof (hereinafter: "Group"), which are prepared in accordance with International Financial Reporting Standards (IFRS), give a true and fair view of assets and obligations, profit and loss, financial position, and operations of both the Company and the Group.

The Management report for 9M 2024 contains a true presentation of development and results of operations and position of the Group, with description of significant risks and uncertainties for the Group as a whole.

Ms. Nataša Rapaić, President of the Management Board (CEO)

Ms. Marijana Bačić, Member of the Management Board and Chief Operating Officer Business

Mr. Ivan Bartulović, Member of the Management Board and Chief Operating Officer for Human Resources and Customer Operations

Mr. Boris Drilo, Member of the Management Board and Chief Technical and Chief Information Officer

Mr. Siniša Đuranović, Member of the Management Board and Chief Corporate Affairs Officer

Mr. Matija Kovačević, Member of the Management Board and Chief Financial Officer

Mr. Krešimir Madunović, Member of the Management Board and Chief Operating Officer Residential

Zagreb, 30 October 2024

Annex 1
		ISSUER'S GENERAL DATA
Reporting period:		01.01.2024	to	30.09.2024
Year:		2024
Quarter:		3.
		Quarterly financial statements
Registration number (MB):	1414887		Issuer's home Member State code:	HR
Entity's registration number (MBS):	80266256
Personal identification number (OIB):	81793146560		LEI:	097900BFHJ0000029454
Institution code:	273
Name of the issuer: Hrvatski Telekom d.d.
Postcode and town:	10000		Zagreb
Street and house number: Radnička cesta 21
	E-mail address: consolidation@t.ht.hr
Web address: www.t.ht.hr
Number of employees (end of the reporting	4173
Consolidated report:	KN	(KN-not consolidated/KD-consolidated)		KN	KD
Audited:	RN	(RN-not audited/RD-audited)		RN	RD
Names of subsidiaries (according to IFRS):			Registered office:		MB:
					Yes
Bookkeeping firm:	No	(Yes/No)		(name of the bookkeeping firm)	No
Contact person:
Telephone:	(only name and surname of the contact person)
	E-mail address: consolidation@t.ht.hr
	Audit firm: Deloitte d.o.o.
Certified auditor: Katarina Kadunc	(name of the audit firm)
	(name and surname)

BALANCE SHEET balance as at 30.09.2024

Submitter: Hrvatski Telekom d.d.			in EUR
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 B) FIXED ASSETS (ADP 003+010+020+031+036)	001 002	0 1.411.243.205	0 1.413.911.591
I INTANGIBLE ASSETS (ADP 004 to 009)	003	356.668.201	373.728.383
1 Research and development	004	0	0
2 Concessions, patents, licences, trademarks, software and other rights	005	123.646.996	124.771.264
3 Goodwill	006	6.567.081	16.749.363
4 Advances for the purchase of intangible assets	007	0	0
5 Intangible assets in preparation	008	162.839.089	159.061.860
6 Other intangible assets II TANGIBLE ASSETS (ADP 011 to 019)	009	63.615.035	73.145.896
1 Land	010 011	760.859.316 3.239.915	778.940.818 2.657.473
2 Buildings	012	465.206.666	469.628.096
3 Plant and equipment	013	148.958.035	149.241.186
4 Tools, working inventory and transportation assets	014	139.519	103.670
5 Biological assets 6 Advances for the purchase of tangible assets	015 016	0 284.069	0 478.532
7 Tangible assets in preparation	017	141.337.838	155.182.061
8 Other tangible assets	018	1.092.979	1.079.079
9 Investment property	019	600.295	570.721
III FIXED FINANCIAL ASSETS (ADP 021 to 030)	020	212.935.306	167.342.335
1 Investments in holdings (shares) of undertakings within the group 2 Investments in other securities of undertakings within the group	021 022	212.100.308 0	166.465.393 0
3 Loans, deposits, etc. to undertakings within the group	023	0	0
4. Investments in holdings (shares) of companies linked by virtue of	024	0	0
participating interests 5 Investment in other securities of companies linked by virtue of	025	0	0
participating interests 6 Loans, deposits etc. to companies linked by virtue of participating interests	026	0	0
7 Investments in securities	027	834.998	876.942
8 Loans, deposits, etc. given	028	0	0
9 Other investments accounted for using the equity method	029	0	0
10 Other fixed financial assets	030	0	0
IV RECEIVABLES (ADP 032 to 035) 1 Receivables from undertakings within the group	031 032	62.319.124 0	72.440.382 0
2 Receivables from companies linked by virtue of participating interests	033	0	0
3 Customer receivables	034	59.871.113	69.725.348
4 Other receivables	035	2.448.011	2.715.034
V DEFERRED TAX ASSETS C) CURRENT ASSETS (ADP 038+046+053+063)	036	18.461.258	21.459.673
I INVENTORIES (ADP 039 to 045)	037 038	534.064.125 56.668.010	494.759.420 64.245.685
1 Raw materials and consumables	039	7.374.846	10.724.447
2 Work in progress	040	0	0
3 Finished goods	041	0	0
4 Merchandise 5 Advances for inventories	042 043	17.593.164 0	21.821.238 0
6 Fixed assets held for sale	044	31.700.000	31.700.000
7 Biological assets	045	0	0
II RECEIVABLES (ADP 047 to 052)	046	264.139.873	244.269.968
1 Receivables from undertakings within the group	047	30.707.301	3.261.015
2 Receivables from companies linked by virtue of participating interests	048	0	0
3 Customer receivables	049	207.328.681	233.854.902
4 Receivables from employees and members of the undertaking 5 Receivables from government and other institutions	050	1.824.922	2.163.083
6 Other receivables	051 052	88.031 24.190.938	238.601 4.752.367
III CURRENT FINANCIAL ASSETS (ADP 054 to 062)	053	22.414.600	31.756.244
1 Investments in holdings (shares) of undertakings within the group	054	0	0
2 Investments in other securities of undertakings within the group	055	0	0
3 Loans, deposits, etc. to undertakings within the group	056	3.010.358	11.843.971
4 Investments in holdings (shares) of companies linked by virtue of participating interests	057	0	0
5 Investment in other securities of companies linked by virtue of participating interests 6 Loans, deposits etc. to companies linked by virtue of participating	058	0	0
interests	059	0	0
7 Investments in securities 8 Loans, deposits, etc. given	060	19.404.242	19.912.273
9 Other financial assets	061 062	0 0	0 0
IV CASH AT BANK AND IN HAND	063	190.841.642	154.487.523
D ) PREPAID EXPENSES AND ACCRUED INCOME	064	32.791.111	36.111.180
E) TOTAL ASSETS (ADP 001+002+037+064)	065	1.978.098.441	1.944.782.191
OFF-BALANCE SHEET ITEMS	066	0	0

LIABILITIES
A) CAPITAL AND RESERVES (ADP 068 to	067	1.670.870.718	1.617.200.945
070+076+077+083+086+089)
I INITIAL (SUBSCRIBED) CAPITAL	068	1.359.742.172	1.359.742.172
II CAPITAL RESERVES	069	0	0
III RESERVES FROM PROFIT (ADP 071+072-073+074+075)	070	68.160.999	68.060.878
1 Legal reserves	071	67.987.109	67.987.109
2 Reserves for treasury shares	072	21.226.328	5.460.619
3 Treasury shares and holdings (deductible item)	073	-21.226.328	-5.460.619
4 Statutory reserves	074	0	0
5 Other reserves	075	173.890	73.769
IV REVALUATION RESERVES	076	0	0
V FAIR VALUE RESERVES AND OTHER (ADP 078 to 082)	077	-159.814	-7.326.658
1 Financial assets at fair value through other comprehensive income (i.e. available for sale)	078	11.737	25.112
2 Cash flow hedge - effective portion	079	-171.551	-7.351.770
3 Hedge of a net investment in a foreign operation - effective portion	080	0	0
4 Other fair value reserves	081	0	0
5 Exchange differences arising from the translation of foreign operations (consolidation)	082	0	0
VI RETAINED PROFIT OR LOSS BROUGHT FORWARD (ADP 084-	083	117.966.163	87.701.251
085)
1 Retained profit	084	117.966.163	87.701.251
2 Loss brought forward	085	0	0
VII PROFIT OR LOSS FOR THE BUSINESS YEAR (ADP 087-088)	086	125.161.198	109.023.302
1 Profit for the business year	087	125.161.198	109.023.302
2 Loss for the business year	088	0	0
VIII MINORITY (NON-CONTROLLING) INTEREST	089	0	0
B) PROVISIONS (ADP 091 to 096)	090	15.240.470	23.321.680
1 Provisions for pensions, termination benefits and similar obligations	091	2.330.636	3.502.814
2 Provisions for tax liabilities	092	0	0
3 Provisions for ongoing legal cases	093	8.227.423	14.947.217
4 Provisions for renewal of natural resources	094	0	0
5 Provisions for warranty obligations	095	0	0
6 Other provisions	096	4.682.411	4.871.649
C) LONG-TERM LIABILITIES (ADP 098 to 108)	097	52.674.076	64.710.118
1 Liabilities to undertakings within the group	098	0	0
2 Liabilities for loans, deposits, etc. of undertakings within the group	099	0	0
3 Liabilities to companies linked by virtue of participating interests	100	0	0
4 Liabilities for loans, deposits etc. of companies linked by virtue of	101	0	0
participating interests
5 Liabilities for loans, deposits etc.	102	0	0
6 Liabilities to banks and other financial institutions	103	0	0
7 Liabilities for advance payments	104	0	0
8 Liabilities to suppliers	105	0	0
9 Liabilities for securities	106	0	0
10 Other long-term liabilities	107	52.311.800	64.347.842
11 Deferred tax liability	108	362.276	362.276
D) SHORT-TERM LIABILITIES (ADP 110 to 123)	109	231.668.644	222.906.719
1 Liabilities to undertakings within the group 2 Liabilities for loans, deposits, etc. of undertakings within the group	110 111	26.694.924 0	21.280.917 0
3 Liabilities to companies linked by virtue of participating interests	112	0	0
4 Liabilities for loans, deposits etc. of companies linked by virtue of
participating interests	113	0	0
5 Liabilities for loans, deposits etc.	114	0	0
6 Liabilities to banks and other financial institutions	115	0	0
7 Liabilities for advance payments	116	0	0
8 Liabilities to suppliers	117	127.009.884	112.603.726
9 Liabilities for securities	118	0	0
10 Liabilities to employees	119	23.977.190	20.316.561
11 Taxes, contributions and similar liabilities	120	11.514.316	16.945.523
12 Liabilities arising from the share in the result	121	0	0
13 Liabilities arising from fixed assets held for sale	122	0	0
14 Other short-term liabilities	123	42.472.330	51.759.992
E) ACCRUALS AND DEFERRED INCOME	124	7.644.533	16.642.729
F) TOTAL – LIABILITIES (ADP 067+090+097+109+124)	125	1.978.098.441	1.944.782.191
G) OFF-BALANCE SHEET ITEMS	126	0	0

for the period 01.01.2024 to 30.09.2024 STATEMENT OF PROFIT OR LOSS

in EUR

Submitter: Hrvatski Telekom d.d.
Item	Same period of the previous year ADP			Current period
	code	Cumulative	Quarter	Cumulative	Quarter
1	2	3	4	5	6
I OPERATING INCOME (ADP 002 to 006)	001	647.890.346	235.858.623	716.867.473	254.411.189
1 Income from sales with undertakings within the group	002	37.105.847	17.938.355	26.188.895	12.925.019
2 Income from sales (outside group) 3 Income from the use of own products, goods and services	003	608.078.063	216.892.792	683.013.613	241.031.186
4 Other operating income with undertakings within the group	004 005	0 0	0 0	0 9	0 0
5 Other operating income (outside the group)	006	2.706.436	1.027.476	7.664.956	454.984
II OPERATING EXPENSES (ADP 08+009+013+017+018+019+022+029)	007	533.267.186	185.855.841	586.142.182	196.212.870
1 Changes in inventories of work in progress and finished goods 2 Material costs (ADP 010 to 012)	008	0	0	0	0
a) Costs of raw materials and consumables	009 010	181.252.529 26.397.078	64.082.008 8.880.352	201.298.021 23.355.494	66.739.602 8.155.721
b) Costs of goods sold	011	101.484.634	35.910.525	110.739.265	32.128.977
c) Other external costs	012	53.370.817	19.291.131	67.203.262	26.454.904
3 Staff costs (ADP 014 to 016)	013	83.627.290	27.391.425	96.648.004	32.092.385
a) Net salaries and wages	014	52.959.154	17.187.943	62.613.763	20.678.953
b) Tax and contributions from salary costs	015	20.668.828	6.884.752	22.687.133	7.587.892
c) Contributions on salaries	016	9.999.308	3.318.730	11.347.108	3.825.540
4 Depreciation	017	169.869.888	57.653.339	180.258.104	61.386.080
5 Other costs	018	82.283.651	24.919.180	84.912.285	29.552.119
6 Value adjustments (ADP 020+021)	019	10.074.748	4.881.260	6.126.001	1.460.206
a) fixed assets other than financial assets	020	3.579.384	3.563.078	0	0
b) current assets other than financial assets	021	6.495.364	1.318.182	6.126.001	1.460.206
7 Provisions (ADP 023 to 028)	022	6.159.080	6.928.629	16.899.767	4.982.478
a) Provisions for pensions, termination benefits and similar obligations	023	7.108.514	5.004.215	4.475.389	2.437.351
b) Provisions for tax liabilities	024	0	0	0	0
c) Provisions for ongoing legal cases	025	-2.500.619	1.110.461	11.065.872	2.162.770
d) Provisions for renewal of natural resources e) Provisions for warranty obligations	026	0	0	0	0
f) Other provisions	027 028	0 1.551.185	0 813.953	0 1.358.506	0 382.357
8 Other operating expenses	029	0	0	0	0
III FINANCIAL INCOME (ADP 031 to 040)	030	5.007.019	1.641.584	5.108.239	1.408.324
1 Income from investments in holdings (shares) of undertakings within
the group	031	0	0	0	0
2 Income from investments in holdings (shares) of companies linked by	032	0	0	0	0
virtue of participating interests
3 Income from other long-term financial investment and loans granted to undertakings within the group	033	2.850.238	1.045.613	3.107.332	1.155.311
4 Other interest income from operations with undertakings within the
group	034	0	0	0	0
5 Exchange rate differences and other financial income from operations
with undertakings within the group	035	82.632	-843	2.914	0
6 Income from other long-term financial investments and loans	036	0	0	0	0
7 Other interest income	037	1.809.674	479.418	1.631.982	181.105
8 Exchange rate differences and other financial income	038	263.592	117.396	366.011	71.908
9 Unrealised gains (income) from financial assets	039	0	0	0	0
10 Other financial income	040	883	0	0	0
IV FINANCIAL EXPENSES (ADP 042 to 048)	041	4.363.420	1.471.521	5.692.673	1.967.960
1 Interest expenses and similar expenses with undertakings within the group	042	0	0	0	0
2 Exchange rate differences and other expenses from operations with
undertakings within the group	043	33.528	1.150	4.119	-8.067
3 Interest expenses and similar expenses	044	4.182.540	1.599.194	5.251.414	1.723.690
4 Exchange rate differences and other expenses	045	96.506	-144.378	390.260	250.315
5 Unrealised losses (expenses) from financial assets	046	0	0	0	0
6 Value adjustments of financial assets (net)	047	-1.827	-417	3.547	2.022
7 Other financial expenses V SHARE IN PROFIT FROM UNDERTAKINGS LINKED BY VRITUE	048	52.673	15.972	43.333	0
OF PARTICIPATING INTERESTS	049	0	0	0	0
VI SHARE IN PROFIT FROM JOINT VENTURES	050	0	0	0	0
VII SHARE IN LOSS OF COMPANIES LINKED BY VIRTUE OF
PARTICIPATING INTEREST	051	0	0	0	0
VIII SHARE IN LOSS OF JOINT VENTURES	052	0	0	0	0
IX TOTAL INCOME (ADP 001+030+049 +050)	053	652.897.365	237.500.207	721.975.712	255.819.513
X TOTAL EXPENDITURE (ADP 007+041+051 + 052)	054	537.630.606	187.327.362	591.834.855	198.180.830
XI PRE-TAX PROFIT OR LOSS (ADP 053-054)	055	115.266.759	50.172.845	130.140.857	57.638.683
1 Pre-tax profit (ADP 053-054)	056	115.266.759	50.172.845	130.140.857	57.638.683
2 Pre-tax loss (ADP 054-053)	057	0	0	0	0
XII INCOME TAX	058	21.138.516	9.133.749	21.117.555	11.226.138
XIII PROFIT OR LOSS FOR THE PERIOD (ADP 055-059) 1 Profit for the period (ADP 055-059)	059 060	94.128.243 94.128.243	41.039.096 41.039.096	109.023.302 109.023.302	46.412.545 46.412.545
2 Loss for the period (ADP 059-055)	061	0	0	0	0

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	0	0	0
1 Pre-tax profit from discontinued operations	063	0	0	0	0
2 Pre-tax loss on discontinued operations	064	0	0	0	0
XV INCOME TAX OF DISCONTINUED OPERATIONS	065	0	0	0	0
1 Discontinued operations profit for the period (ADP 062-065)	066	0	0	0	0
2 Discontinued operations loss for the period (ADP 065-062)	067	0	0	0	0
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	0	0	0
1 Pre-tax profit (ADP 068)	069	0	0	0	0
2 Pre-tax loss (ADP 068)	070	0	0	0	0
XVII INCOME TAX (ADP 058+065)	071	0	0	0	0
XVIII PROFIT OR LOSS FOR THE PERIOD (ADP 068-071)	072	0	0	0	0
1 Profit for the period (ADP 068-071)	073	0	0	0	0
2 Loss for the period (ADP 071-068)	074	0	0	0	0
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)
1 Attributable to owners of the parent	075	0	0	0	0
2 Attributable to minority (non-controlling) interest	076 077	0 0	0 0	0 0	0 0
STATEMENT OF OTHER COMPRHENSIVE INCOME (to be filled in by undertakings subject to IFRS)
I PROFIT OR LOSS FOR THE PERIOD	078	94.128.243	41.039.096	109.023.302	46.412.545
II OTHER COMPREHENSIVE INCOME/LOSS BEFORE TAX
(ADP 80+ 87)	079	15.502	-10.079	-7.166.844	-387.424
III Items that will not be reclassified to profit or loss (ADP 081 to 085)	080	15.502	-10.079	13.375	12.462
1 Changes in revaluation reserves of fixed tangible and intangible assets	081	0	0	0	0
2 Gains or losses from subsequent measurement of equity instruments	082	15.502	-10.079	13.375	12.462
at fair value through other comprehensive income 3 Fair value changes of financial liabilities at fair value through
statement of profit or loss, attributable to changes in their credit risk	083	0	0	0	0
4 Actuarial gains/losses on the defined benefit obligation	084	0	0	0	0
5 Other items that will not be reclassified	085	0	0	0	0
6 Income tax relating to items that will not be reclassified	086	0	0	0	0
IV Items that may be reclassified to profit or loss (ADP 088 to 095)	087	0	0	-7.180.219	-399.886
1 Exchange rate differences from translation of foreign operations	088	0	0	0	0
2 Gains or losses from subsequent measurement of debt securities at fair value through other comprehensive income	089	0	0	0	0
3 Profit or loss arising from effective cash flow hedging	090	0	0	-7.180.219	-399.886
4 Profit or loss arising from effective hedge of a net investment in a foreign operation	091	0	0	0	0
5 Share in other comprehensive income/loss of companies linked by virtue of participating interests	092	0	0	0	0
6 Changes in fair value of the time value of option	093	0	0	0	0
7 Changes in fair value of forward elements of forward contracts	094	0	0	0	0
8 Other items that may be reclassified to profit or loss	095	0	0	0	0
9 Income tax relating to items that may be reclassified to profit or loss	096	0	0	0	0
V NET OTHER COMPREHENSIVE INCOME OR LOSS (ADP 080+087- 086 - 096)	097	15.502	-10.079	-7.166.844	-387.424
VI COMPREHENSIVE INCOME OR LOSS FOR THE PERIOD (ADP 078+097)	098	94.143.745	41.029.017	101.856.458	46.025.121
APPENDIX to the Statement on comprehensive income (to be filled in by undertakings that draw up consolidated statements)
VI COMPREHENSIVE INCOME OR LOSS FOR THE PERIOD (ADP 100+101)	099	0	0	0	0
1 Attributable to owners of the parent	100	0	0	0	0
2 Attributable to minority (non-controlling) interest	101	0	0	0	0

STATEMENT OF CASH FLOWS - indirect method
for the period 01.01.2024 to 30.09.2024

in EUR

Submitter: _____________
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	115.266.759	130.140.857
2 Adjustments (ADP 003 to 010): a) Depreciation	002	171.793.755	190.056.540
b) Gains and losses from sale and value adjustment of fixed tangible and	003	169.869.888	180.258.104
intangible assets	004	3.088.717	-4.373.477
c) Gains and losses from sale and unrealised gains and losses and value	005	-2.800.275
adjustment of financial assets			-3.060.452
d) Interest and dividend income	006	-1.809.674	-1.631.982 5.251.414
e) Interest expenses	007	4.182.540 -1.812.546
f) Provisions	008		8.081.210
g) Exchange rate differences (unrealised)	009	63.531	184.200
h) Other adjustments for non-cash transactions and unrealised gains and losses	010	1.011.574	5.347.523
I Cash flow increase or decrease before changes in working capital	011	287.060.514	320.197.397
(ADP 001+002)
3 Changes in the working capital (ADP 013 to 016)	012	-4.856.870	-4.079.059
a) Increase or decrease in short-term liabilities	013	18.807.345	14.449.065
b) Increase or decrease in short-term receivables	014	-17.837.647	-5.062.458
c) Increase or decrease in inventories	015	-3.320.428	-7.578.167
d) Other increase or decrease in working capital	016	-2.506.140	-5.887.499
II Cash from operations (ADP 011+012)	017	282.203.644	316.118.338
4 Interest paid	018	-3.788.167	-4.453.935
5 Income tax paid	019	-27.393.874	-29.122.333
A) NET CASH FLOW FROM OPERATING ACTIVITIES (ADP 017 to 019)	020	251.021.603	282.542.070
Cash flow from investment activities
1 Cash receipts from sales of fixed tangible and intangible assets	021	981.050	6.274.707
2 Cash receipts from sales of financial instruments	022	0	0
3 Interest received	023	1.578.251	4.475.704
4 Dividends received	024	0	0
5 Cash receipts from repayment of loans and deposits	025	19.490.842	21.487.809
6 Other cash receipts from investment activities	026	51.226	42.617
III Total cash receipts from investment activities (ADP 021 to 026)	027	22.101.369	32.280.837
1 Cash payments for the purchase of fixed tangible and intangible assets	028	-230.431.037	-135.642.646
2 Cash payments for the acquisition of financial instruments	029	-9.866.040	-7.515.201
3 Cash payments for loans and deposits for the period	030	-20.000.000	-23.500.000
4 Acquisition of a subsidiary, net of cash acquired	031	0	0
5 Other cash payments from investment activities	032	-1.325.092	-882.604
IV Total cash payments from investment activities (ADP 028 to 032)	033	-261.622.169	-167.540.451
B) NET CASH FLOW FROM INVESTMENT ACTIVITIES (ADP 027 +033)	034	-239.520.800	-135.259.614
Cash flow from financing activities
1 Cash receipts from the increase in initial (subscribed) capital	035	0	0
2 Cash receipts from the issue of equity financial instruments and debt	036	0	0
financial instruments
3 Cash receipts from credit principals, loans and other borrowings	037	0	0
4 Other cash receipts from financing activities	038	0	0
V Total cash receipts from financing activities (ADP 035 to 038)	039	0	0
1 Cash payments for the repayment of credit principals, loans and other borrowings and debt financial instruments	040	0	0
2 Cash payments for dividends
3 Cash payments for finance lease	041 042	-86.464.906 -29.556.426	-119.211.475 -30.765.722
4 Cash payments for the redemption of treasury shares and decrease in
initial (subscribed) capital	043	-18.046.153	-5.315.788
5 Other cash payments from financing activities	044	-22.217.179	-28.343.590
VI Total cash payments from financing activities (ADP 040 to 044)	045	-156.284.664	-183.636.575
C) NET CASH FLOW FROM FINANCING ACTIVITIES (ADP 039 +045)	046	-156.284.664	-183.636.575
1 Unrealised exchange rate differences in respect of cash and cash equivalents	047	0	0
D) NET INCREASE OR DECREASE IN CASH FLOWS (ADP 020+034+046+047)	048	-144.783.861	-36.354.119
E) CASH AND CASH EQUIVALENTS AT THE BEGINNING OF THE PERIOD	049	339.775.020	190.841.642
F) CASH AND CASH EQUIVALENTS AT THE END OF THE PERIOD(ADP 048+049)	050	194.991.159	154.487.523

for the period 01.01.2024 to 30.09.2024 STATEMENT OF CASH FLOWS - direct method

in EUR

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

STATEMENT OF CHANGES IN EQUITY for the period from 01.01.2024 to 30.09.2024																		in EUR
										Attributable to owners of the parent
	ADP					Treasury shares and				Fair value of financial assets		Hedge of a net		Exchange rate	Retained profit /		Total attributable to	Minority (non	Total capital and
Item	code	Initial (subscribed) capital	Capital reserves	Legal reserves	Reserves for treasury shares	holdings	Statutory reserves Other reserves		Revaluation reserves	through other comprehensive	Cash flow hedge - effective portion	investment in a foreign operation -	Other fair value reserves	differences from translation of	loss brought	Profit/loss for the business year	owners of the	controlling) interest	reserves
						(deductible item)				income (available for sale)		effective portion		foreign operations	forward		parent
1	2	3	4	5	6	7	8	9	10	11	12	13	14	15	16	17	18 (3 to 6 - 7 + 8 to 17)	19	20 (18+19)
Previous period
1 Balance on the first day of the previous business year 2 Changes in accounting policies	01 02	1.359.742.171 0	0 0	67.987.109 0	472.086 0	472.086 0	0 0	139.308 0	0 0	-6.586 0	0 0	0 0		0 0 0 0	156.062.013 0	69.091.228 0	1.653.015.243 0	0 0	1.653.015.243 0
3 Correction of errors	03	0	0	0	0	0	0	0	0	0	0	0		0 0	0	0	0	0	0
4 Balance on the first day of the previous business year (restated) (ADP 01 to 03)	04	1.359.742.171	0	67.987.109	472.086	472.086	0	139.308	0	-6.586	0	0		0 0	156.062.013	69.091.228	1.653.015.243	0	1.653.015.243
5 Profit/loss of the period	05	0	0	0	0	0	0	0	0	0	0	0		0 0	0	125.161.198	125.161.198	0	125.161.198
6 Exchange rate differences from translation of foreign operations	06	0	0	0	0	0	0	0	0	0	0	0		0 0	0	0	0	0	0
7 Changes in revaluation reserves of fixed tangible and intangible assets	07	0	0	0	0	0	0	0	0	0	0	0		0 0	0	0	0	0	0
8 Gains or losses from subsequent measurement of financial assets at fair value through other comprehensive income (available for sale)	08	0	0	0	0	0	0	0	0	18.323	0	0		0 0	0	0	18.323	0	18.323
9 Profit or loss arising from effective cash flow hedge	09	0	0	0	0	0	0	0	0	0	-171.551	0		0 0	0	0	-171.551	0	-171.551
10 Profit or loss arising from effective hedge of a net investment in a foreign operation	10	0	0	0	0	0	0	0	0	0	0	0		0 0	0	0	0	0	0
11 Share in other comprehensive income/loss of companies linked by virtue of	11	0	0	0	0	0	0	0	0	0	0	0		0 0	0	0	0	0	0
participating interests 12 Actuarial gains/losses on the defined benefit obligation	12	0	0	0	0	0	0	0	0	0	0	0		0 0	0	0	0	0	0
13 Other changes in equity unrelated to owners	13	1	0	0	0	0	0	34.582	0	0	0	0		0 0	1	0	34.584	0	34.584
14 Tax on transactions recognised directly in equity 15 Decrease in initial (subscribed) capital (other than arising from the pre-bankruptcy	14	0	0	0	0	0	0	0	0	0	0	0		0 0	0	0	0	0	0
settlement procedure or from the reinvestment of profit)	15	0	0	0	0	0	0	0	0	0	0	0		0 0	0	0	0	0	0
16 Decrease in initial (subscribed) capital arising from the pre-bankruptcy settlement procedure	16	0	0	0	0	0	0	0	0	0	0	0		0 0	0	0	0	0	0
17 Decrease in initial (subscribed) capital arising from the reinvestment of profit
	17	0	0	0	0	0	0	0	0	0	0	0		0 0	0	0	0	0	0
18 Redemption of treasury shares/holdings 19 Payments from members/shareholders	18 19	0 0	0 0	0 0	0 0	20.754.242 0	0 0	0 0	0 0	0 0	0 0	0 0		0 0 0 0	0 0	0 0	-20.754.242 0	0 0	-20.754.242 0
20 Payment of share in profit/dividend 21 Other distributions and payments to members/shareholders	20	0	0	0	0	0	0	0	0	0	0	0		0 0	-86.464.033	0	-86.464.033	0	-86.464.033
22 Transfer to reserves according to the annual schedule	21 22	0 0	0 0	0 0	0 20.754.242	0 0	0 0	0 0	0 0	0 0	0 0	0 0		0 0 0 0	0 48.368.182	0 -69.091.228	0 31.196	0 0	0 31.196
23 Increase in reserves arising from the pre-bankruptcy settlement procedure 24 Balance on the last day of the previous business year reporting period (ADP	23	0	0	0	0	0	0	0	0	0	0	0		0 0	0	0	0	0	0
04 to 23) APPENDIX TO THE STATEMENT OF CHANGES IN EQUITY (to be filled in by undertakings that draw up financial statements in accordance with the IFRS)	24	1.359.742.172	0	67.987.109	21.226.328	21.226.328	0	173.890	0	11.737	-171.551	0		0 0	117.966.163	125.161.198	1.670.870.718	0	1.670.870.718
I OTHER COMPREHENSIVE INCOME OF THE PREVIOUS PERIOD, NET OF TAX
(ADP 06 to 14)	25	1	0	0	0	0	0	34.582	0	18.323	-171.551	0		0 0	1	0	-118.644	0	-118.644
II COMPREHENSIVE INCOME OR LOSS FOR THE PREVIOUS PERIOD (ADP	26	1	0	0	0	0	0	34.582	0	18.323	-171.551	0		0 0	1	125.161.198	125.042.554	0	125.042.554
05+25)
III TRANSACTIONS WITH OWNERS IN THE PREVIOUS PERIOD RECOGNISED DIRECTLY IN EQUITY (ADP 15 to 23)	27	0	0	0	20.754.242	20.754.242	0	0	0	0	0	0		0 0	-38.095.851	-69.091.228	-107.187.079	0	-107.187.079
Current period
1 Balance on the first day of the current business year 2 Changes in accounting policies	28 29	1.359.742.172 0	0 0	67.987.109 0	21.226.328 0	21.226.328 0	0 0	173.890 0	0 0	11.737 0	-171.551 0	0 0		0 0 0 0	117.966.163 0	125.161.198 0	1.670.870.718 0	0 0	1.670.870.718 0
3 Correction of errors	30	0	0	0	0	0	0	0	0	0	0	0		0 0	0	0	0	0	0
4 Balance on the first day of the current business year (restated) (AOP 28 to 30)	31	1.359.742.172	0	67.987.109	21.226.328	21.226.328	0	173.890	0	11.737	-171.551	0		0 0	117.966.163	125.161.198	1.670.870.718	0	1.670.870.718
5 Profit/loss of the period 6 Exchange rate differences from translation of foreign operations	32	0 0	0 0	0 0	0 0	0 0	0 0	0 0	0 0	0 0	0 0	0 0		0 0 0 0	0 0	109.023.302 0	109.023.302 0	0 0	109.023.302 0
7 Changes in revaluation reserves of fixed tangible and intangible assets	33
8 Gains or losses from subsequent measurement of financial assets at fair value	34	0	0	0	0	0	0	0	0	0	0	0		0 0	0	0	0	0	0
through other comprehensive income (available for sale)	35	0	0	0	0	0	0	0	0	13.375	0	0		0 0	0	0	13.375	0	13.375
9 Profit or loss arising from effective cash flow hedge	36	0	0	0	0	0	0	0	0	0	-7.180.219	0		0 0	0	0	-7.180.219	0	-7.180.219
10 Profit or loss arising from effective hedge of a net investment in a foreign operation	37	0	0	0	0	0	0	0	0	0	0	0		0 0	0	0	0	0	0
11 Share in other comprehensive income/loss of companies linked by virtue of participating interests	38	0	0	0	0	0	0	0	0	0	0	0		0 0	0	0	0	0	0
12 Actuarial gains/losses on the defined benefit obligation	39	0	0	0	0	0	0	0	0	0	0	0		0 0	0	0	0	0	0
13 Other changes in equity unrelated to owners 14 Tax on transactions recognised directly in equity	40 41	0 0	0 0	0 0	0 0	0 0	0 0	-100.121 0	0 0	0 0	0 0	0 0		0 0 0 0	-31.701.971 0	0 0	-31.802.092 0	0 0	-31.802.092 0
15 Decrease in initial (subscribed) capital (other than arising from the pre-bankruptcy settlement procedure or from the reinvestment of profit)	42	0	0	0	0	0	0	0	0	0	0	0		0 0	0	0	0	0	0
16 Decrease in initial (subscribed) capital arising from the pre-bankruptcy settlement	43	0	0	0	0	0	0	0	0	0	0	0		0 0	0	0	0	0	0
procedure
17 Decrease in initial (subscribed) capital arising from the reinvestment of profit	44	0	0	0	0	0	0	0	0	0	0	0		0 0	0	0	0	0	0
18 Redemption of treasury shares/holdings 19 Payments from members/shareholders	45 46	0 0	0 0	0 0	0 0	4.514.330 0	0 0	0 0	0 0	0 0	0 0	0 0		0 0 0 0	0 0	0 0	-4.514.330 0	0 0	-4.514.330 0
20 Payment of share in profit/dividend 21 Other distributions and payments to members/shareholders	47	0 0	0 0	0 0	0 -20.280.039	0 -20.280.039	0 0	0 0	0 0	0 0	0 0	0 0		0 0 0 0	0 0	-119.209.808 0	-119.209.808 0	0 0	-119.209.808 0
22 Carryforward per annual plane	48 49	0	0	0	4.514.330	0	0	0	0	0	0	0		0 0	1.437.059	-5.951.390	-1	0	-1
23 Increase in reserves arising from the pre-bankruptcy settlement procedure 24 Balance on the last day of the current business year reporting period (ADP	50	0	0	0	0	0	0	0	0	0	0	0		0 0	0	0	0	0	0
31 to 50)	51	1.359.742.172	0	67.987.109	5.460.619	5.460.619	0	73.769	0	25.112	-7.351.770	0		0 0	87.701.251	109.023.302	1.617.200.945	0	1.617.200.945
APPENDIX TO THE STATEMENT OF CHANGES IN EQUITY (to be filled in by undertakings that draw up financial statements in accordance with the IFRS) I OTHER COMPREHENSIVE INCOME FOR THE CURRENT PERIOD, NET OF
TAX (ADP 33 to 41)	52	0	0	0	0	0	0	-100.121	0	13.375	-7.180.219	0		0 0	-31.701.971	0	-38.968.936	0	-38.968.936
II COMPREHENSIVE INCOME OR LOSS FOR THE CURRENT PERIOD (ADP 32 do	53	0	0	0	0	0	0	-100.121	0	13.375	-7.180.219	0		0 0	-31.701.971	109.023.302	70.054.366	0	70.054.366
52) III TRANSACTIONS WITH OWNERS IN THE CURRENT PERIOD RECOGNISED
DIRECTLY IN EQUITY (ADP 42 to 50)	54	0	0	0	-15.765.709	-15.765.709	0	0	0	0	0	0		0 0	1.437.059	-125.161.198	-123.724.139	0	-123.724.139

NOTES TO FINANCIAL STATEMENTS - TFI (drawn up for quarterly reporting periods)

Name of the issuer: _______________________________________________________ Personal identification number (OIB): ________________________________________________________

Reporting period: _____________________________________________

Notes to financial statements for quarterly periods include:

a) explanation of business events relevant to understanding changes in the statement of financial position and financial performance for the reporting semi-annual 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 (items 15 to 15C 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 semi-annual reporting period

c) a statement explaining that the same accounting policies are applied while drawing up financial statements for the semi-annual 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 (item 16.A (a) IAS 34 - Interim financial reporting)

d) a description of the financial performance in the case of the issuer whose business is seasonal (items 37 and 38 IAS 34 - Interim financial reporting)

e) other comments prescribed by IAS 34 - Interim financial reporting f) in the notes to quarterly periods financial statements, in addition to the information stated above, information in respect of the following matters shall be disclosed: 1. undertaking's name, registered office (address), legal form, country of establishment, entity's registration number and, if applicable, the indication whether the undertaking 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 from the previous period)

1. 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 undertaking within the group or company linked by virtue of participating interest shall be disclosed separately

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

3. amounts owed by the undertaking and falling due after more than five years, as well as the total debts of the undertaking covered by valuable security furnished by the undertaking, specifying the type and form of security

4. average number of employees during the financial year

5. where, in accordance with the regulations, the undertaking capitalised 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 debiting the costs of the period and the amount capitalised 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

6. the name and registered office of each of the undertakings in which the undertaking, either itself or through a person acting in their own name but on the undertaking'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 undertaking concerned for which financial statements have been adopted; the information concerning capital and reserves and the profit or loss may be omitted where the undertaking concerned does not publish its balance sheet and is not controlled by another

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

1. 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

2. the name, registered office and legal form of each of the undertakings of which the undertaking is a member having unlimited liability 13. the name and registered office of the undertaking which draws up the consolidated financial statements of the largest group of undertakings of which the undertaking forms part as a controlled group member

3. the name and registered office of the undertaking which draws up the consolidated financial statements of the smallest group of undertakings of which the undertaking forms part as a controlled group member and which is also included in the group of undertakings referred to in point 13

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

5. the nature and business purpose of the undertaking's arrangements that are not included in the balance sheet and the financial impact on the undertaking of those 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 undertaking

6. 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