INA d.d. — Interim / Quarterly Report 2026

Apr 30, 2026

Zagreb, April 2026

INA

INA, D.D.
Q1 2026
FINANCIAL REPORT

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Q1 2026 REPORT
INA, D.D. NON-CONSOLIDATED
INA

Content

Management discussion and analysis ... 3
INA, d.d. financial results (IFRS) ... 3
Financial and operational highlights ... 3
Condensed non-consolidated Statement of Profit or Loss ... 4
Condensed non-consolidated Statement of Comprehensive income ... 4
Condensed non-consolidated Statement of Financial Position ... 5
Condensed non-consolidated Cash Flow Statement (Indirect method) ... 6
INA, d.d. Summary Segmental Results of Operations ... 7
Financial overview and notes ... 8
Special items in operating profit and EBITDA ... 9
Changes in equity ... 9
Related party transactions ... 10
Management representation ... 11

FINANCIAL STATEMENTS IN THIS REPORT ARE UNAUDITED
2

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Q1 2026 REPORT

INA, D.D. NON-CONSOLIDATED

iNA

Management discussion and analysis

INA, d.d. financial results (IFRS)

2025	EUR mn	Q1 2025	Q1 2026	%
3,643.1	Net sales revenues*	869.1	832.0	(4)
382.5	EBITDA (1)	72.9	57.2	(22)
382.5	EBITDA excl. special items (2)	72.9	57.2	(22)
174.2	Profit/(loss) from operations	30.1	(10.7)	n.a.
186.1	Profit/(loss) from operations excl. special items (2)	30.1	(10.7)	n.a.
7.7	Net (loss)/income from financial activities	2.3	(6.8)	n.a.
152.3	Profit/(loss) for the period attributable to Owners of the Company	26.4	(14.5)	n.a.
164.2	Profit/(loss) for the period excl. special items (2)	26.4	(14.5)	n.a.
313.6	Net operating cash flow	(69.7)	65.8	n.a.
	Earnings per share
15.2	Basic and diluted earnings/(loss) per share (EUR per share)	2.6	(1.5)	n.a.
514.1	Net debt	605.9	599.1	(1)
23.6	Net gearing (%)	26.7	26.6
258.3	CAPEX total (4)	31.9	75.9	138
2025	USD mn (3)	Q1 2025	Q1 2026	%
4,114.5	Net sales revenues*	914.6	973.7	6
432.0	EBITDA (1)	76.7	66.9	(13)
432.0	EBITDA excl. special items (2)	76.7	66.9	(13)
196.7	Profit/(loss) from operations	31.7	(12.5)	n.a.
210.2	Profit/(loss) from operations excl. special items (2)	31.7	(12.5)	n.a.
8.7	Net (loss)/income from financial activities	2.4	(8.0)	n.a.
172.0	Profit/(loss) for the period attributable to Owners of the Company	27.8	(17.0)	n.a.
185.5	Profit/(loss) for the period excl. special items (2)	27.8	(17.0)	n.a.
354.2	Net operating cash flow	(73.3)	77.0	n.a.
	Earnings per share
17.2	Basic and diluted earnings/(loss) per share (USD per share)	2.8	(1.7)	n.a.
534.8	Net debt	654.2	688.0	5
291.7	CAPEX total (4)	33.6	88.8	165

• Related to Revenue from contracts with customers
  (1) EBITDA = EBIT + Depreciation, amortization and impairment (net)
  (2) In 2025, the result was impacted by impairment of assets in the amount of EUR (11.9) million. In Q1 2025 and Q1 2026, there were no special items impacting the result.
  (3) In converting EUR figures into US Dollars, the following average CNB (HNB) rates were used: as at 31 December 2025 – 1.1757 EUR/USD; as at 31 March 2026 1.1484; for Q1 2025 - 1.0523 EUR/USD; for Q1 2026 - 1.1703 EUR/USD
  (4) Including borrowing costs in accordance with IAS 23

Financial and operational highlights

Following a stable 2025, the beginning of 2026 was marked by a less favourable gas-price environment, followed by global instability caused by geopolitical events in the Middle East that led to a sudden increase in oil and gas prices from March. INA performance in Q1 2026 was lower than in the same period last year, with EBITDA amounting to EUR 57 million.

Exploration and Production EBITDA was weaker due to lower natural gas prices in January and February, reaching EUR 74 million in Q1 2026. Production increased by 2% compared to Q1 2025 as a result of workovers performed in Croatia and Egypt, together with the Offshore Ika A infill well and new wells in Egypt that were put into production. Capital investments amounted to EUR 26 million in Q1 2026, 65% higher than in Q1 2025, and were focused on Croatia. An agreement with Vermilion Zagreb Exploration d.o.o. has been signed to acquire a 60% stake in the onshore exploration area SAVA-07, thereby increasing INA's stake to 100% in that area, subject to obtaining Government approval.

Results of Refining and Marketing, including Consumer Services and Retail, remained stable despite significant market volatility caused by ongoing geopolitical uncertainty and the reintroduction of a regulation setting maximum retail prices for petroleum products, imposed by the Government at the beginning of March. Rijeka Refinery underwent a planned catalyst change in Q1 2026. Consumer Services and Retail sales volumes increased by 5% compared to Q1 last year, with consistently strong performance in key markets, while the non-fuel margin continued to grow. In line with this environment, EBITDA of the segment reached EUR 8 million, an increase compared to Q1 last year.

Overall capital expenditures increased significantly compared to Q1 2025, amounting to EUR 76 million, mainly related to the Rijeka Refinery Upgrade Project and Croatian offshore field developments. The Rijeka Refinery Upgrade Project achieved Systems Mechanical Completion. Net debt remained at the same level as in Q1 2025, at EUR 599 million, with a gearing ratio of 27%, following the continuation of a strong investment cycle.

FINANCIAL STATEMENTS IN THIS REPORT ARE UNAUDITED

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Q1 2026 REPORT INA, D.D. NON-CONSOLIDATED

INA

Condensed non-consolidated Statement of Profit or Loss

For the period ended 31 March 2025 and 2026 (in EUR millions)

2025		Q1 2025	Q1 2026	%
3,643.1	Revenue from contracts with customers	869.1	832.0	(4)
49.6	Other operating income	9.7	6.8	(30)
3,692.7	Total operating income	878.8	838.8	(5)
(11.2)	Changes in inventories of finished products and work in progress	(1.6)	20.6	n.a.
(1,690.1)	Costs of raw materials and consumables	(484.3)	(253.6)	(48)
(208.3)	Depreciation, amortisation and impairment (net)	(42.8)	(67.9)	59
(296.9)	Other material costs	(69.9)	(153.8)	120
(148.7)	Service costs	(34.0)	(35.7)	5
(136.5)	Staff costs	(33.5)	(33.6)	0
(958.7)	Costs of other goods sold	(175.2)	(326.3)	86
(17.9)	Impairment charges (net)	(5.6)	(1.7)	(70)
(58.1)	Provision for charges and risks (net)	(3.4)	0.4	n.a.
7.9	Capitalised value of own performance	1.6	2.1	31
(3,518.5)	Operating expenses	(848.7)	(849.5)	0
174.2	Profit/(Loss) from operations	30.1	(10.7)	n.a.
72.6	Finance income	20.1	6.8	(66)
(64.9)	Finance costs	(17.8)	(13.6)	(24)
7.7	Net gain/(loss) from financial activities	2.3	(6.8)	n.a.
181.9	Profit/(Loss) before tax	32.4	(17.5)	n.a.
(29.6)	Income tax gain/(expense)	(6.0)	3.0	n.a.
152.3	Profit/(Loss) for the period	26.4	(14.5)	n.a.
	Earnings per share
15.2	Basic and diluted earnings/(loss) per share (EUR per share)	2.6	-	n.a.

Condensed non-consolidated Statement of Comprehensive income

For the period ended 31 March 2025 and 2026 (in EUR millions)

2025		Q1 2025	Q1 2026	%
152.3	Profit/(Loss) before tax	26.4	(14.5)	n.a.
	Items that will not be reclassified subsequently to profit or loss:
(0.2)	Remeasurement of defined benefit obligation	-	-	n.a.
(4.4)	Gain on non-current financial assets	(4.9)	3.4	n.a.
	Items that may be reclassified subsequently to profit or loss:
(2.7)	Exchange differences on translating foreign operations	(0.7)	0.4	n.a.
	Net fair value gain/(loss) on financial instruments	-	-	n.a.
(7.3)	Other comprehensive income, net of income tax	(5.6)	3.8	n.a.
145.0	Total comprehensive gain/(loss) for the period	20.8	(10.7)	n.a.

FINANCIAL STATEMENTS IN THIS REPORT ARE UNAUDITED

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Q1 2026 REPORT INA, D.D. NON-CONSOLIDATED

INA

Condensed non-consolidated Statement of Financial Position

At 31 December 2025 and 31 March 2026 (in EUR millions)

	31 December 2025	31 March 2026	%
Assets
Non-current assets
Intangible assets	102.6	141.3	38
Property, plant and equipment	1,693.8	1,714.1	1
Investment property	17.7	17.5	(1)
Right-of-use assets	68.5	64.2	(6)
Investment in subsidiaries	295.6	295.6	-
Investments in associates and joint venture	126.6	126.6	-
Other investments	0.6	0.6	-
Other non-current financial assets	100.6	103.4	3
Deferred tax assets	111.1	133.5	20
Long-term marketable securities	2.6	2.6	-
Non-current financial assets	92.7	96.9	5
Other non-current assets	22.1	22.1	-
Total non-current assets	2,634.5	2,718.4	3
Current assets
Inventories	400.1	512.6	28
Intercompany receivables	28.3	38.9	37
Trade receivables, net	237.1	270.1	14
Other current financial assets	14.6	160.7	1,001
Corporate income tax receivables	-	8.1	n.a.
Other current assets	27.4	31.9	16
Derivative financial instruments	3.9	35.2	803
Cash and cash equivalents	148.1	96.6	(35)
Current assets	859.5	1,154.1	34
Total current assets	859.5	1,154.1	34
Total assets	3,494.0	3,872.5	11
Equity and liabilities
Capital and reserves
Share capital	1,200.0	1,200.0	-
Legal reserves	58.9	58.9	-
Fair value reserves	69.1	72.5	5
Other reserves	151.4	151.8	0
(Accumulated losses)/Retained earnings	187.7	173.2	(8)
Total equity	1,667.1	1,656.4	(1)
Non-current liabilities
Borrowings	-	-	n.a.
Long-term lease liabilities	51.7	47.7	(8)
Other non-current liabilities	2.0	2.1	5
Other non-current financial liabilities	21.4	21.7	1
Employee benefits obligation	2.5	2.4	(4)
Provisions	529.3	529.2	(0)
Total non-current liabilities	606.9	603.1	(1)
Current liabilities
Borrowings	662.2	695.7	5
Current portion of long-term lease liabilities	18.5	18.2	(2)
Intercompany payables	45.5	35.6	(22)
Other current financial liabilities	17.1	81.0	374
Trade payables	235.9	361.5	53
Taxes and contributions	120.0	139.8	17
Income tax payables	5.6	25.7	359
Other current liabilities	47.4	43.6	(8)
Derivative financial instruments	8.8	141.5	1,508
Employee benefits obligation	0.2	0.2	-
Provisions	58.8	70.2	19
Current liabilities	1,220.0	1,613.0	32
Total current liabilities	1,220.0	1,613.0	32
Total liabilities	1,826.9	2,216.1	21
Total equity and liabilities	3,494.0	3,872.5	11

FINANCIAL STATEMENTS IN THIS REPORT ARE UNAUDITED

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Q1 2026 REPORT

INA, D.D. NON-CONSOLIDATED

INA

Condensed non-consolidated Cash Flow Statement (Indirect method)

For the period ended 31 March 2025 and 2026 (in EUR millions)

2025		Q1 2025	Q1 2026	%
152.3	Profit/(loss) for the period:	26.4	(14.5)	n.a.
	Adjustments for:
	Depreciation, amortisation and impairment of property, plant and equipment and ROU asset (net)	42.8	67.9	59
208.3	Income tax (benefit)/expense recognised in profit and loss	6.0	(3.0)	n.a.
29.6	Impairment charges (net)	5.6	1.7	(70)
17.9	Loss/(Gain) on sale of property, plant and equipment	(0.8)	-	n.a.
(3.1)	Foreign exchange (gain)/loss	(9.5)	(0.2)	(98)
(8.8)	Interest income	(0.9)	(0.8)	(11)
(4.1)	Interest expense	2.9	1.6	(45)
7.0	Share of loss/(gain) of joint ventures accounted for using the equity method	-	-	n.a.
(27.1)	Other finance (income)/expense recognised in profit	(1.0)	(0.8)	(20)
26.2	Increase/(decrease) in provision	2.4	(1.6)	n.a.
25.6	Decommissioning interests and other provision	6.3	7.0	11
2.1	Net (gain)/loss on derivative financial instruments and hedge transactions	1.3	80.5	6,092
425.9	Operating cash flow before working capital changes	81.5	137.8	69
	Movements in working capital
(8.7)	Decrease/(Increase) in inventories	4.6	(106.2)	n.a.
(29.0)	Decrease/(Increase) in receivables and prepayments	(65.4)	(89.9)	37
(36.5)	(Decrease)/Increase in trade and other payables	(80.8)	132.2	n.a.
351.7	Cash generated from operations	(60.1)	73.9	n.a.
(38.1)	Taxes paid	(9.6)	(8.1)	(16)
313.6	Net cash flows from operating activities	(69.7)	65.8	n.a.
	Cash flows used in investing activities
(218.3)	Capital expenditures, exploration and development costs	(30.4)	(73.7)	142
(23.0)	Payment for intangible assets	(4.3)	(0.5)	(88)
5.0	Proceeds from sale of non-current assets	1.4	0.3	(79)
9.5	Dividends received	-	-	n.a.
15.4	Dividends received from subsidiaries	-	-	n.a.
10.5	Interest received and other financial income	3.3	1.9	(42)
10.3	Loans and deposits given (net)	(10.2)	2.4	n.a.
(190.6)	Net cash flows used investing activities	(40.2)	(69.6)	73
	Cash flows used in financing activities
2,564.8	Proceeds from borrowings	1,016.0	578.8	(43)
(2,481.6)	Repayment of borrowings	(961.6)	(546.1)	(43)
(17.7)	Payment of lease liabilities	(3.9)	(4.7)	21
(21.4)	Interest paid	(9.1)	(75.7)	732
(119.8)	Dividends paid	-	-	n.a.
(75.7)	Net cash flows from financing activities	41.4	(47.7)	n.a.
47.3	Net increase/(decrease) in cash and cash equivalents	(68.5)	(51.5)	(25)
101.4	At the beginning of the period	101.4	148.1	46
(0.6)	Effect of foreign exchange rate changes	(0.2)	-	n.a.
148.1	At the end of period	32.7	96.6	195
148.1	Cash and cash equivalents in statement of financial position	32.7	96.6	195

FINANCIAL STATEMENTS IN THIS REPORT ARE UNAUDITED

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Q1 2026 REPORT

INA, D.D. NON-CONSOLIDATED

INA

INA, d.d. Summary Segmental Results of Operations

2025	(EUR mn)	Q1 2025	Q1 2026	%
Net sales revenues
451.0	Exploration & Production	133.2	126.0	(5)
3,604.8	Refining & Marketing including Consumer services and Retail	858.8	822.1	(4)
48.8	Corporate and Other	12.1	16.1	33
(461.5)	Intersegment transfers and consolidation adjustments	(135.0)	(132.2)	(2)
3,643.1	Total	869.1	832.0	(4)
EBITDA*
239.7	Exploration & Production	80.0	73.5	(8)
174.4	Refining & Marketing including Consumer services and Retail	3.2	8.2	156
(26.9)	Corporate and Other	(5.2)	(6.7)	29
(4.7)	Intersegment transfers and consolidation adjustments	(5.1)	(17.8)	249
382.5	Total	72.9	57.2	(22)
EBITDA Excluding Special Items
239.7	Exploration & Production	80.0	73.5	(8)
174.4	Refining & Marketing including Consumer services and Retail	3.2	8.2	156
(26.9)	Corporate and Other	(5.2)	(6.7)	29
(4.7)	Intersegment transfers and consolidation adjustments	(5.1)	(17.8)	249
382.5	Total	72.9	57.2	(22)
Profit/(Loss) from operations
149.7	Exploration & Production	63.5	35.2	(45)
69.7	Refining & Marketing including Consumer services and Retail	(19.8)	(18.2)	(8)
(40.5)	Corporate and Other	(8.5)	(9.9)	16
(4.7)	Intersegment transfers and consolidation adjustments	(5.1)	(17.8)	249
174.2	Total	30.1	(10.7)	n.a.
Profit/(Loss) from operations Excluding Special Items
161.6	Exploration & Production	63.5	35.2	(45)
69.7	Refining & Marketing including Consumer services and Retail	(19.8)	(18.2)	(8)
(40.5)	Corporate and Other	(8.5)	(9.9)	16
(4.7)	Intersegment transfers and consolidation adjustments	(5.1)	(17.8)	249
186.1	Total	30.1	(10.7)	n.a.
Property, plant and equipment
484.3	Exploration & Production	474.0	477.7	1
1,179.0	Refining & Marketing including Consumer services and Retail	1,128.1	1,206.8	7
30.5	Corporate and Other	31.2	29.6	(5)
-	Intersegment assets eliminations	-	-	n.a.
1,693.8	Total	1,633.3	1,714.1	5

*EBITDA= EBIT - Depreciation, amortisation and impairment (net)

FINANCIAL STATEMENTS IN THIS REPORT ARE UNAUDITED

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Q1 2026 REPORT
INA, D.D. NON-CONSOLIDATED
INA

Financial overview and notes

Condensed non-consolidated Statement of Profit or Loss

Revenue from contract with customers in Q1 2026 amounted to EUR 832.0 million.

Costs of raw materials and consumables at EUR (253.6) million were lower than in Q1 2025, reflecting different dynamic of refinery operation.

Other operating costs realized in Q1 2026 include:

• Depreciation, amortisation and impairment (net) in the amount of EUR (67.9) million was higher compared to Q1 2025, due to asset capitalisation
• Other material costs in the amount of EUR (153.8) million were higher compared to Q1 2025, as a result of crude price changes
• Service costs in the amount of EUR (35.7) million were 5% higher compared to Q1 2025
• Impairment charges (net) had a negative effect in the amount of EUR (1.7) million in Q1 2026 compared to negative effect in the amount of EUR (5.6) million in Q1 2025
• Provision for charges and risk (net) had a positive effect in the amount of EUR 0.4 million in Q1 2026 compared to EUR (3.4) million negative effect in Q1 2025.

Staff costs the amount EUR (33.6) million were the same as in Q1 2025.

Costs of other goods sold in Q1 2026 amounted to EUR (326.3) million and were 86% higher compared to Q1 2025, as a result of planned catalyst change in refinery in February and March.

Net result from financial activities in Q1 2026 in the amount of EUR (6.8) million was negative compared to EUR 2.3 million in Q1 2025.

Income tax gain in Q1 2026 amounted to EUR 3.0 million compared to EUR (6.0) million income tax expense in Q1 2025. Tax costs and deferred taxes during the reporting period are calculated based on actual results and the profit tax rate, 18% for the periods ended 31 March 2025 and 2026.

Condensed non-consolidated Statement of Financial Position

Total assets of INA d.d., on 31 March 2026 amounted to EUR 3,872.5 million and were higher than on 31 December 2025.

Property, plant and equipment amounted to EUR 1,714.1 million and were slightly higher compared to 31 December 2025.

Trade receivables, net amounted to EUR 270.1 million, which is 14% higher than on 31 December 2025.

Total liabilities amounted to EUR 2,216.1 million and were 21% higher compared to 31 December 2025.

INA, d.d. net debt amounted to EUR 599.1 million and decreased by 1% compared to 31 March 2025. Net gearing was at 26.6% on 31 March 2026.

Trade payables amounted to EUR 361.5 million and increased by 53% compared to 31 December 2025 mainly due to higher purchased volumes.

Condensed non-consolidated Cash Flow Statement (Indirect method)

The operating cash flow before movements in working capital amounted to EUR 137.8 million in Q1 2026 representing an increase compared to Q1 2025, which is in line with the change in EBITDA performance excluding non-cash items.

Movements in working capital affected the operating cash flow negatively by EUR (63.9) million, primarily due to:

• Increase in value of inventories in the amount of EUR (106.2) million
• Increase in receivables and prepayments in the amount of EUR (89.9) million mainly due to higher volumes
• Increase in trade and other payables in the amount of EUR 132.2 million mainly related to higher import in line with processing dynamic.

INA d.d. generated EUR 65.8 million net cash inflow from operating activities in Q1 2026 compared to EUR (69.7) million in Q1 2025.

FINANCIAL STATEMENTS IN THIS REPORT ARE UNAUDITED
8

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Q1 2026 REPORT
INA, D.D. NON-CONSOLIDATED
INA

Special items in operating profit and EBITDA

In addition to international accounting standards, international reporting standards and regulatory requests the company discloses special items to achieve a higher level of transparency and to provide better understanding of the usual business operations. Business events not occurring regularly and having a significant effect on operations and results are considered as special items. INA has adopted the materiality level for the special items in the amount of USD 10 million or above. If special items reach materiality level on cumulative basis, previous quarters are restated. Furthermore, in accordance with the adopted accounting policies and IFRS 36 – Impairment of Assets, INA performs impairment testing at the end of each reporting period if impairment indicators are assessed to be significant.

In 2025, the result was impacted by impairment of assets in the amount of EUR (11.9) million.

In Q1 2025 and Q1 2026, there were no special items impacting the result.

Changes in equity

	Share capital	Legal reserves	Fair value reserves	Other reserves	Retained earnings/ (accumulated losses)	Total
Balance at 1 January 2025	1,200.0	51.1	73.5	154.3	163.2	1,642.1
Profit/(loss) for the period	-	-	-	-	26.4	26.4
Other comprehensive gain/(loss), net	-	-	(4.9)	(0.7)	-	(5.6)
Balance at 31 March 2025	1,200.0	51.1	68.6	153.6	189.6	1,662.9
Balance at 1 January 2026	1,200.0	58.9	69.1	151.4	187.7	1,667.1
Profit/(loss) for the period	-	-	-	-	(14.5)	(14.5)
Other comprehensive gain/(loss), net	-	-	3.4	0.4	-	3.8
Balance at 31 March 2026	1,200.0	58.9	72.5	151.8	173.2	1,656.4

FINANCIAL STATEMENTS IN THIS REPORT ARE UNAUDITED
9

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Q1 2026 REPORT

INA, D.D. NON-CONSOLIDATED

INA

Related party transactions

INA, d.d. has dominant positions in Croatia in oil and gas exploration and production, oil refining and the sale of gas and petroleum products. As a result of the INA, d.d. strategic position within the Croatian economy, a substantial portion of its business is transacted with the Croatian Government, its departments and agencies, and the companies with the Republic of Croatia being their majority shareholder.

Details of transactions between INA, d.d., other INA Group companies and other related parties during Q1 2026 are disclosed below:

INA d.d.	Sales of goods and services	Purchase of goods and services
EUR mn	31 March 2026	31 March 2026
Related companies
Holdina d.o.o. Sarajevo	109.4	-
INA Crna Gora d.o.o. Podgorica	13.2	-
INA Slovenija d.o.o. Ljubljana	4.2	-
STSI, Integrirani tehnički servisi d.o.o.	0.9	19.3
CROSCO, naftni servisi d.o.o.	0.9	13.5
Plavi tim d.o.o.	0.5	4.6
INA Maloprodajni servisi d.o.o.	0.3	17.3
INA MAZIVA d.o.o.	0.1	2.9
INA Vatrogasni Servisi d.o.o.	0.1	4.2
Top Računovodstvo Servisi d.o.o.	0.1	1.6
Adriagas S.r.l. Milano	-	0.1
Related companies through direct or indirect ownership
- associates and joint control
Plinara Istočne Slavonije d.o.o.	9.7	-
Plinara Pula d.o.o.	2.2	-
ED INA d.o.o.	-	2.9
Share in company as non-current financial assets
JANAF d.d. Zagreb	-	1.8
Ultimate parent company
MOL Nyrt.	1.4	15.8
Related companies controlled through the same ultimate parent
Tifon d.o.o.	33.2	2.3
SLOVNAFT, a.s.	4.6	6.3
MOL & INA d.o.o.	19.8	-
MOL Petrochemicals Co. Ltd.	4.3	-
MOL Serbia d.o.o.	1.8	-
MOL Commodity Trading Kft.	0.1	22.5
FGSZ Zrt.	-	0.1
IES S.p.A - Refinery	0.1	-
Rossi Biofuel Zrt.	-	5.4

FINANCIAL STATEMENTS IN THIS REPORT ARE UNAUDITED

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Q1 2026 REPORT

INA, D.D. NON-CONSOLIDATED

iNA

INA d.d.	Amounts owed from related parties	Amounts owed to related parties
EUR mn	31 March 2026	31 March 2026
Related companies
Holdina d.o.o. Sarajevo	27.3	0.1
INA Crna Gora d.o.o. Podgorica	6.3	-
STSI, Integrirani tehnički servisi d.o.o.	1.8	11.7
INA Slovenija d.o.o. Ljubljana	1.8	-
CROSCO, naftni servisi d.o.o.	0.5	4.4
Plavi tim d.o.o.	0.5	6.2
INA Maloprodajni servisi d.o.o.	0.2	7.9
INA MAZIVA d.o.o.	0.1	1.0
Top Računovodstvo Servisi d.o.o.	0.1	0.7
INA Vatrogasni Servisi d.o.o.	-	1.9
Adriagas S.r.l. Milano	-	0.1
Related companies through direct or indirect ownership - associates and joint control
Plinara Istočne Slavonije d.o.o.	2.4	-
Plinara Pula d.o.o.	0.9	-
ED INA d.o.o.	0.01	1.8
Share in company as non-current financial assets
JANAF d.d. Zagreb	0.02	1.0
Ultimate parent company
MOL Nyrt.	1.7	9.5
Related companies controlled through the same ultimate parent
Tifon d.o.o.	19.6	2.7
MOL & INA d.o.o.	12.6	-
MOL Commodity Trading Kft.	0.1	-
MOL Serbia d.o.o.	0.1	0.4
SLOVNAFT, a.s.	0.01	0.6
MOL Petrochemicals Co. Ltd.	1.0	-
MOL Slovenia Downstream Investment B.V	-	5.4
SC MOL Romania Petroleum Products S	0.03	-
MOL Czech Republic Llc	0.02	-
Rossi Biofuel Zrt.	-	2.8

Management representation

INA, d.d. non-consolidated financial statements for Q1 2026 have been prepared in accordance with the International Financial Reporting Standards (IFRS), i.e. they present fairly, in all material aspects, the financial position of the company, results of its operations and cash flows.

Management Board:

• Zsuzsanna Éva Ortutay – President of the Management Board
• Károly Hazuga – Member of the Management Board
• Zsombor Ádám Marton – Member of the Management Board
• Miroslav Skalicki – Member of the Management Board
• Hrvoje Šimović – Member of the Management Board
• Marin Zovko – Member of the Management Board

11

FINANCIAL STATEMENTS IN THIS REPORT ARE UNAUDITED