Hrvatski Telekom d.d.

Quarterly Report • Oct 28, 2025

UNAUDITED NON-CONSOLIDATED INTERIM REPORT FOR THE HT INC.

JANUARY - SEPTEMBER 2025

HT INC. FINANCIAL HIGHLIGHTS

Revenue

Revenue growth supported by strong mobile and fixed business.

Adjusted EBITDA before exceptional items after leases

EBITDA before exceptional items after leases increased, driven by solid top-line performance and ongoing transformation of the operating model which helped offset persistent costs and inflationary-related pressures.

Net profit after non-controlling interests

Net profit contracted due to higher depreciation and tax, partly offset by favourable net financial result and higher EBITDA.

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 9M 2025, 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 2025 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, 28 October 2025

Annex 1
	ISS	JER'S GENERAI	L DATA
Reporting period:		01.01.2025	to	30.09.2025
Year:		2025
Quarter:		3.
	Quarterly fi	nancial statem	ents
		•	's home Member
egistration number (MB):	1414887	_	State code:	HR
Entity's registration number (MBS):	80266256
Personal identification number (OIB):	81793146560		LEI:	97900BFHJ000002945
Institution code:	273
Name of the issuer:	Hrvatski Telekom d.d.
Postcode and town:	10000		Zagreb
treet and house number:	Radnička cesta 21
E-mail address:	consolidation@t.ht.h	nr
Web address:	www.t.ht.hr
Number of employees (end of the reporting	4799
Consolidated report:	KN (KN	I-not consolidated/KD	o-consolidated)
Audited:	RN (F	RN-not audited/RD-au	udited)
Names of subsidiaries	s (according to IFRS):		Registered office	e:	MB:
Bookkeeping firm:	No	(Yes/No)	ĺ
		1 ' '	(name of the	bookkeeping firm)
Contact person: (only name and surname of the contact person)
Telephone: E-mail address: consolidation@t.ht.hr
⊏-maii address:	consolidation@t.ht.r	II
	Deloitte d.o.o. (name of the audit firm)
	Katarina Kadunc

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	001	0	0
B) FIXED ASSETS (ADP 003+010+020+031+036)	002	1.459.964.463	1.473.785.242
I INTANGIBLE ASSETS (ADP 004 to 009)	003	393.962.470	371.545.478
1 Research and development	004	0	0
2 Concessions, patents, licences, trademarks, software and other	005	269.160.288	272.128.617
rights 3 Goodwill	006	16.749.363	16.749.363
4 Advances for the purchase of intangible assets	007	0	0
5 Intangible assets in preparation	008	35.497.084	22.091.841
6 Other intangible assets	009	72.555.735	60.575.657
II TANGIBLE ASSETS (ADP 011 to 019)	010	797.623.278	795.964.640
1 Land	011	2.702.601	2.631.044
2 Buildings	012	480.844.895	492.709.808
3 Plant and equipment	013	150.304.298	164.631.856
4 Tools, working inventory and transportation assets 5 Biological assets	014 015	100.163 0	89.640 0
6 Advances for the purchase of tangible assets	016	466.838	1.741.756
7 Tangible assets in preparation	017	161.607.427	132.656.675
8 Other tangible assets	018	1.076.106	1.068.429
9 Investment property	019	520.950	435.432
III FIXED FINANCIAL ASSETS (ADP 021 to 030)	020	166.746.424	191.440.383
1 Investments in holdings (shares) of undertakings within the group	021	166.465.393	191.160.816
2 Investments in other securities of undertakings within the group	022	0	0
3 Loans, deposits, etc. to undertakings within the group	023	0	0
4. Investments in holdings (shares) of companies linked by virtue of participating interests	024	0	0
5 Investment in other securities of companies linked by virtue of participating interests	025	0	0
6 Loans, deposits etc. to companies linked by virtue of participating interests	026	0	0
7 Investments in securities	027	281.031	279.567
8 Loans, deposits, etc. given 9 Other investments accounted for using the equity method	028 029	0 0	0 0
10 Other fixed financial assets	030	0	0
IV RECEIVABLES (ADP 032 to 035)	031	82.605.486	93.959.167
1 Receivables from undertakings within the group	032	0	0
2 Receivables from companies linked by virtue of participating interests	033	0	0
3 Customer receivables	034	79.855.103	90.749.694
4 Other receivables	035	2.750.383	3.209.473
V DEFERRED TAX ASSETS	036	19.026.805	20.875.574
C) CURRENT ASSETS (ADP 038+046+053+063)	037	482.904.619	417.238.204
I INVENTORIES (ADP 039 to 045)	038	64.719.755	76.910.464
1 Raw materials and consumables	039	10.356.921	11.566.465
2 Work in progress 3 Finished goods	040 041	0 0	0 0
4 Merchandise	042	22.662.834	33.643.999
5 Advances for inventories	043	0	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	249.038.771	272.370.700
1 Receivables from undertakings within the group	047	1.921.679	6.100.581
2 Receivables from companies linked by virtue of participating interests	048	0	0
3 Customer receivables	049	238.721.134	258.956.450
4 Receivables from employees and members of the undertaking 5 Receivables from government and other institutions	050	2.244.559	2.355.259
6 Other receivables	051 052	2.423.428 3.727.971	388.588 4.569.822
III CURRENT FINANCIAL ASSETS (ADP 054 to 062)	053	0	7.109.512
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	0	7.109.512
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	058	0	0
6 Loans, deposits etc. to companies linked by virtue of participating interests	059	0	0
7 Investments in securities	060	0	0
8 Loans, deposits, etc. given 9 Other financial assets	061 062	0 0	0 0
IV CASH AT BANK AND IN HAND	063	169.146.093	60.847.528
D ) PREPAID EXPENSES AND ACCRUED INCOME	064	29.989.887	22.127.608
E) TOTAL ASSETS (ADP 001+002+037+064)	065	1.972.858.969	1.913.151.054
OFF-BALANCE SHEET ITEMS	066	0	0

LIABILITIES
A) CAPITAL AND RESERVES (ADP 068 to
070+076+077+083+086+089)	067	1.620.523.720	1.570.987.000
I INITIAL (SUBSCRIBED) CAPITAL	068	1.359.742.172	1.340.772.262
II CAPITAL RESERVES III RESERVES FROM PROFIT (ADP 071+072-073+074+075)	069 070	0 67.891.151	0 86.932.338
1 Legal reserves	071	67.987.109	67.987.109
2 Reserves for treasury shares	072	28.579.126	60.363.938
3 Treasury shares and holdings (deductible item)	073	-28.579.126	-60.363.938
4 Statutory reserves	074	0	0
5 Other reserves	075	-95.958	18.945.229
IV REVALUATION RESERVES	076	0	0
V FAIR VALUE RESERVES AND OTHER (ADP 078 to 082)	077	-8.564.340	-7.216.144
1 Financial assets at fair value through other comprehensive income (i.e. available for sale)	078	19.457	17.993
2 Cash flow hedge - effective portion	079	-8.583.797	-7.234.137
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	082	0	0
operations (consolidation)
VI RETAINED PROFIT OR LOSS BROUGHT FORWARD (ADP 084-	083	64.627.623	42.672.860
085) 1 Retained profit	084	64.627.623	42.672.860
2 Loss brought forward	085	0	0
VII PROFIT OR LOSS FOR THE BUSINESS YEAR (ADP 087-088)	086	136.827.114	107.825.684
1 Profit for the business year	087	136.827.114	107.825.684
2 Loss for the business year	088	0	0
VIII MINORITY (NON-CONTROLLING) INTEREST	089	0	0
B) PROVISIONS (ADP 091 to 096)	090	16.152.723	12.824.721
1 Provisions for pensions, termination benefits and similar obligations	091	2.662.730	3.554.183
2 Provisions for tax liabilities	092	0	0
3 Provisions for ongoing legal cases	093	8.565.908	7.812.730
4 Provisions for renewal of natural resources	094	0	0
5 Provisions for warranty obligations 6 Other provisions	095 096	0 4.924.085	0 1.457.808
C) LONG-TERM LIABILITIES (ADP 098 to 108)	097	81.303.060	73.452.270
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 participating interests	101	0	0
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 11 Deferred tax liability	107 108	80.931.670 371.390	73.080.880 371.390
D) SHORT-TERM LIABILITIES (ADP 110 to 123)	109	242.757.689	243.885.142
1 Liabilities to undertakings within the group	110	24.842.975	19.548.743
2 Liabilities for loans, deposits, etc. of undertakings within the group	111	0	0
3 Liabilities to companies linked by virtue of participating interests 4 Liabilities for loans, deposits etc. of companies linked by virtue of	112	0	0
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	138.540.277	141.691.430
9 Liabilities for securities	118	0	0
10 Liabilities to employees	119	25.572.425	25.819.933
11 Taxes, contributions and similar liabilities 12 Liabilities arising from the share in the result	120	1.323.611	18.066.329
13 Liabilities arising from fixed assets held for sale	121 122	0 0	0 0
14 Other short-term liabilities	123	52.478.401	38.758.707
E) ACCRUALS AND DEFERRED INCOME	124	12.121.777	12.001.921
F) TOTAL – LIABILITIES (ADP 067+090+097+109+124)	125	1.972.858.969	1.913.151.054
G) OFF-BALANCE SHEET ITEMS	126	0	0

for the period 01.01.2025 to 30.09.2025 STATEMENT OF PROFIT OR LOSS

Submitter: Hrvatski Telekom d.d.
Item	ADP	Same period of the previous year		Current period
	code	Cumulative	Quarter	Cumulative	Quarter
1	2	3	4	5	6
I OPERATING INCOME (ADP 002 to 006)	001	716.867.473	254.411.189	737.459.222	260.511.221
1 Income from sales with undertakings within the group 2 Income from sales (outside group)	002 003	26.188.895 683.013.613	12.925.019 241.031.186	24.439.767 708.194.848	12.936.663 245.906.670
3 Income from the use of own products, goods and services	004	0	0	0	0
4 Other operating income with undertakings within the group	005	9	0	54.738	54.738
5 Other operating income (outside the group)	006	7.664.956	454.984	4.769.869	1.613.150
II OPERATING EXPENSES (ADP 08+009+013+017+018+019+022+029)	007	586.142.182	196.212.870	610.524.466	200.854.921
1 Changes in inventories of work in progress and finished goods	008	0	0	0	0
2 Material costs (ADP 010 to 012)	009	201.298.021	66.739.602	208.308.379	67.585.996
a) Costs of raw materials and consumables	010	23.355.494	8.155.721	23.066.189	8.031.287
b) Costs of goods sold	011	110.739.265	32.128.977	115.295.999	35.402.525
c) Other external costs 3 Staff costs (ADP 014 to 016)	012	67.203.262	26.454.904	69.946.191	24.152.184
a) Net salaries and wages	013 014	96.648.004 62.613.763	32.092.385 20.678.953	121.239.632 77.605.509	41.478.772 26.286.420
b) Tax and contributions from salary costs	015	22.687.133	7.587.892	29.032.618	10.149.570
c) Contributions on salaries	016	11.347.108	3.825.540	14.601.505	5.042.782
4 Depreciation	017	180.258.104	61.386.080	184.729.836	63.114.780
5 Other costs	018	84.912.285	29.552.119	81.417.354	26.046.459
6 Value adjustments (ADP 020+021)	019	6.126.001	1.460.206	4.459.704	1.362.743
a) fixed assets other than financial assets	020	0	0	0	0
b) current assets other than financial assets	021	6.126.001	1.460.206	4.459.704	1.362.743
7 Provisions (ADP 023 to 028)	022	16.899.767	4.982.478	10.369.561	1.266.171
a) Provisions for pensions, termination benefits and similar obligations	023	4.475.389	2.437.351	7.890.815	683.659
b) Provisions for tax liabilities	024	0	0	0	0
c) Provisions for ongoing legal cases	025	11.065.872	2.162.770	932.537	21.032
d) Provisions for renewal of natural resources	026	0	0	0	0
e) Provisions for warranty obligations f) Other provisions	027 028	0 1.358.506	0 382.357	0 1.546.209	0 561.480
8 Other operating expenses	029	0	0	0	0
III FINANCIAL INCOME (ADP 031 to 040)	030	5.108.239	1.408.324	11.132.148	896.812
1 Income from investments in holdings (shares) of undertakings within the group	031	0	0	8.097.566	0
2 Income from investments in holdings (shares) of companies linked by virtue of participating interests	032	0	0	0	0
3 Income from other long-term financial investment and loans granted to undertakings within the group	033	3.107.332	1.155.311	1.028.512	35.955
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	2.914	0	16.556	0
6 Income from other long-term financial investments and loans	036	0	0	0	0
7 Other interest income	037	1.631.982	181.105	555.992	82.733
8 Exchange rate differences and other financial income	038	366.011	71.908	1.433.522	778.124
9 Unrealised gains (income) from financial assets 10 Other financial income	039 040	0 0	0 0	0 0	0 0
IV FINANCIAL EXPENSES (ADP 042 to 048)	041	5.692.673	1.967.960	7.150.490	2.372.119
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	4.119	-8.067	26	0
3 Interest expenses and similar expenses	044	5.251.414	1.723.690	5.637.040	1.516.846
4 Exchange rate differences and other expenses	045	390.260	250.315	1.473.459	849.518
5 Unrealised losses (expenses) from financial assets	046	0	0	0	0
6 Value adjustments of financial assets (net)	047	3.547	2.022	6.353	5.754
7 Other financial expenses	048	43.333	0	33.612	1
V SHARE IN PROFIT FROM UNDERTAKINGS LINKED BY VRITUE OF PARTICIPATING INTERESTS VI SHARE IN PROFIT FROM JOINT VENTURES	049 050	0 0	0 0	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	721.975.712	255.819.513	748.591.370	261.408.033
X TOTAL EXPENDITURE (ADP 007+041+051 + 052)	054	591.834.855	198.180.830	617.674.956	203.227.040
XI PRE-TAX PROFIT OR LOSS (ADP 053-054)	055	130.140.857	57.638.683	130.916.414	58.180.993
1 Pre-tax profit (ADP 053-054)	056	130.140.857	57.638.683	130.916.414	58.180.993
2 Pre-tax loss (ADP 054-053)	057	0	0	0	0
XII INCOME TAX	058	21.117.555	11.226.138	23.090.730	10.686.541
XIII PROFIT OR LOSS FOR THE PERIOD (ADP 055-059)	059	109.023.302	46.412.545	107.825.684	47.494.452
1 Profit for the period (ADP 055-059)	060	109.023.302	46.412.545	107.825.684	47.494.452
2 Loss for the period (ADP 059-055)	061	0	0	0	0

in EUR

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)	075	0	0	0	0
1 Attributable to owners of the parent	076	0	0	0	0
2 Attributable to minority (non-controlling) interest	077	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	109.023.302	46.412.545	107.825.684	47.494.452
II OTHER COMPREHENSIVE INCOME/LOSS BEFORE TAX (ADP 80+ 87)	079	-7.166.844	-387.424	1.348.195	-22.999
III Items that will not be reclassified to profit or loss (ADP 081 to 085)	080	13.375	12.462	-1.464	4.711
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 at fair value through other comprehensive income	082	13.375	12.462	-1.464	4.711
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	-7.180.219	-399.886	1.349.659	-27.710
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	-7.180.219	-399.886	1.349.659	-27.710
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 V NET OTHER COMPREHENSIVE INCOME OR LOSS (ADP 080+087-	096	0	0	0	0
086 - 096)	097	-7.166.844	-387.424	1.348.195	-22.999
VI COMPREHENSIVE INCOME OR LOSS FOR THE PERIOD (ADP 078+097)	098	101.856.458	46.025.121	109.173.879	47.471.453
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 01.01.2025 to 30.09.2025

in EUR

Submitter:
Item	ADP	Same period of the	Current period
1	code 2	previous year 3	4
Cash flow from operating activities
1 Pre-tax profit	001	130.140.857	130.916.414
2 Adjustments (ADP 003 to 010):	002	190.056.540	175.545.270
a) Depreciation	003	180.258.104	184.729.836
b) Gains and losses from sale and value adjustment of fixed tangible and	004	-4.373.477	-1.943.273
intangible assets c) Gains and losses from sale and unrealised gains and losses and value	005	-3.060.452	-1.028.512
adjustment of financial assets d) Interest and dividend income	006	-1.631.982	-8.653.558
e) Interest expenses	007	5.251.414	5.643.394
f) Provisions	008	8.081.210	-4.064.258
g) Exchange rate differences (unrealised)	009	184.200	57.018
h) Other adjustments for non-cash transactions and unrealised gains and losses	010	5.347.523	804.623
I Cash flow increase or decrease before changes in working capital (ADP 001+002)	011	320.197.397	306.461.684
3 Changes in the working capital (ADP 013 to 016)	012	-4.079.059	-19.740.369
a) Increase or decrease in short-term liabilities	013	14.449.065	17.586.785
b) Increase or decrease in short-term receivables	014	-5.062.458	-16.258.135
c) Increase or decrease in inventories	015	-7.578.167	-12.190.709
d) Other increase or decrease in working capital	016	-5.887.499	-8.878.310
II Cash from operations (ADP 011+012)	017	316.118.338	286.721.315
4 Interest paid	018	-4.453.935	-3.558.379
5 Income tax paid	019	-29.122.333	-20.052.246
A) NET CASH FLOW FROM OPERATING ACTIVITIES (ADP 017 to 019)	020	282.542.070	263.110.690
Cash flow from investment activities
1 Cash receipts from sales of fixed tangible and intangible assets	021	6.274.707	2.081.293
2 Cash receipts from sales of financial instruments	022	0	0
3 Interest received	023	4.475.704	1.588.194
4 Dividends received	024	0	8.097.566
5 Cash receipts from repayment of loans and deposits	025	21.487.809	129.055
6 Other cash receipts from investment activities	026	42.617	12.567
III Total cash receipts from investment activities (ADP 021 to 026)	027	32.280.837	11.908.675
1 Cash payments for the purchase of fixed tangible and intangible assets	028	-135.642.646	-151.914.211
2 Cash payments for the acquisition of financial instruments	029	-7.515.201	-61.718
3 Cash payments for loans and deposits for the period	030	-23.500.000	-7.147.256
4 Acquisition of a subsidiary, net of cash acquired 5 Other cash payments from investment activities	031 032	0 -882.604	0 0
IV Total cash payments from investment activities (ADP 028 to 032)	033	-167.540.451	-159.123.185
B) NET CASH FLOW FROM INVESTMENT ACTIVITIES (ADP 027 +033)	034	-135.259.614	-147.214.510
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 4 Other cash receipts from financing activities	037 038	0 0	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	040	0	0
borrowings and debt financial instruments
2 Cash payments for dividends	041	-119.211.475	-125.479.129
3 Cash payments for finance lease 4 Cash payments for the redemption of treasury shares and decrease in	042	-30.765.722	-31.524.906
initial (subscribed) capital	043	-5.315.788	-32.537.712
5 Other cash payments from financing activities	044	-28.343.590	-34.652.998
VI Total cash payments from financing activities (ADP 040 to 044)	045	-183.636.575	-224.194.745
C) NET CASH FLOW FROM FINANCING ACTIVITIES (ADP 039 +045)	046	-183.636.575	-224.194.745
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	-36.354.119	-108.298.565
E) CASH AND CASH EQUIVALENTS AT THE BEGINNING OF THE PERIOD	049	190.841.642	169.146.093
F) CASH AND CASH EQUIVALENTS AT THE END OF THE PERIOD(ADP 048+049)	050	154.487.523	60.847.528

for the period 01.01.2025 to 30.09.2025 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 4 Cash receipts from tax refund	003	0	0
5 Other cash receipts from operating activities	004 005	0 0	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	012	0	0
II Total cash payments from operating activities (ADP 007 to 012)	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	031	0	0
4 Other cash receipts from financing activities	032	0	0
V Total cash receipts from financing activities (ADP 029 to 032)	033	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
initial (subscribed) capital	037	0	0
5 Other cash payments from financing activities	038	0	0
VI Total cash payments from financing activities (ADP 034 to 038)	039	0	0
C) NET CASH FLOW FROM FINANCING ACTIVITIES (ADP 033 +039)	040	0	0
1 Unrealised exchange rate differences in respect of cash and cash 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 FOLITY for the period from 01.01.2025 to 30.09.2025 01 Balance on the first day of the previous business year 1.359.742.17 67.987.10 21.226.328 21.226.328 -171.55 117 986 163 125.161.198 Profit/loss of the period

Exchange rate differences from translation of foreign operations 136.827.11 hanges in revaluation reserves of fixed tangible and intangible assets 07 Gains or losses from subsequent measurement of financial assets at fair value rough other comprehensive income (available for sale) Profit or loss arising from effective cash flow hedge Profit or loss arising from effective hedge of a net investment in a foreign operation Share in other comprehensive incomelloss of companies linked by virtue of articipating interests

2 Actuarial gains/losses on the defined benefit obligation ..... -31.926.94 -31.926.94 3 Other changes in equity unrelated to owners -260 84 Tax on transactions recognised directly in equity Decrease in initial (subscribed) capital (other than arising from the pre-bankruptcy lement procedure or from the reinvestment of profit) 16 Decrease in initial (subscribed) capital arising from the reinvestment of profit 17 18 27.632.83 -27.632.83 -119.209.80 -119.209.8 Other distributions and payments to members/sharehold Transfer to reserves according to the annual schedule -20.280.039 27.632.83 -20.280 -21.681.44 -5.951.39 ncrease in reserves arising from the pre-bankruptcy settlement procedure 136 827 11 24 PENDIX TO THE STATEMENT OF CHANGES IN EQUITY (to be filled in by -8.412. -31.657.0 -40.331.4 COMPREHENSIVE INCOME OR LOSS FOR THE PREVIOUS PERIODADP 26 .269 -8.412.2 -31 657 0 136 827 1 96 495 6 96 495 6 27 7 352 7 7.352 -21 681 4 -125 161 -146 842 -146 842 1.359.742.17 28.579.126 -8.583.797 136.827.114 Balance on the first day of the current business year (restated) (AOP 28 to 30 31 67.987. -8.583. 1.620.523 Profit/loss of the period Exchange rate differences from translation of foreign operations Gains or losses from subsequent measurement of financial assets at fair value hrough other comprehensive income (available for sale) 35 rofit or loss arising from effective cash flow hedge 36 1 349 6 Profit or loss arising from effective hedge of a net investment in a foreign operati- Share in other comprehensive incomelloss of companies linked by virtue of carticipating interests
Rotustrial gains/losses on the defined benefit obligation
Other chances in equity unrelated to owners 38 -1.518.022 4 Tax on transactions recognised directly in equity 5 Decrease in initial (subscribed) capital (other than arising from the pre-bankrupto stitlement procedure or from the reinvestment of profit) 42 -18 969 91 18 989 91 44 Redemption of treasury shares/holdings 31 784 / -125.479.04 -125.479.0 -125.479.0 Payment of share in profit/dividend Other distributions and payments to members/shareholders
Carryforward per annual plane 31 784 81 -20 436 7 .11 348 072 use systematic per annual plane increase in reserves arising from the pre-bankruptcy settlement procedure Balance on the last day of the current business year reporting period (ADP to 50) 51 1.570.987. PENDIX TO THE STATEMENT OF CHANGES IN EQUITY (to be filled in by OTHER COMPREHENSIVE INCOME FOR THE CURRENT PERIOD, NET OF 52 -1.518.0 I COMPREHENSIVE INCOME OR LOSS FOR THE CURRENT PERIOD(ADP 32 1.349 -1.518.0 107.825.6 107.727.13 107.727.13 RANSACTIONS WITH OWNERS IN THE CURRENT PERIOD RECOGNISED ICTLY IN EQUITY (ADP 42 to 50)

31.784.8

31.784.8

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
• 1. 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
• 1. the amount and nature of individual items of income or expenditure which are of exceptional size or incidence
• 1. 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
• 1. average number of employees during the financial year
• 1. 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
• 1. 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
• 1. 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

• 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

• 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
• 1. the name, registered office and legal form of each of the undertakings of which the undertaking is a member having unlimited liability
• 1. 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
• 1. 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
• 1. the place where copies of the consolidated financial statements referred to in points 13 and 14 may be obtained, provided that they are available
• 1. 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
• 1. 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