Institut IGH d.d.

Management Reports • Jul 28, 2025

Ordinary share IGH-R-A, ISIN HRIGHORA0006 Listed on the official market of the Zagreb Stock Exchange Home Member State: Croatia LEI mark: 74780000W0UQ8MF2FU71

ZAGREB STOCK EXCHANGE lvana | učića 2a 10000 Zagreb

HANFA Miramarska 24h 10000 Zagreb

HINA ots@hina.hr

Zagreb, July 25, 2025

Subject: Statement of the Management Board on the responsibility for preparing financial reports for the Group Institut IGH, JSC

The Company's Management Board has to ensure that the Group's unaudited financial reports for the accounting period from January to June 2025 are prepared in accordance with the Accountancy Law (Official Gazette 78/15, 133/15, 120/16) and International Reporting Standards as adopted by the European Union, so that these documents provide a true and unbiased picture of the Group's financial standing, business results, change in capital, and cash flow for the period under consideration.

After making due enquiries, the Management Board has a reasonable expectation that the Group has adequate resources to continue operation in the foreseeable future. Accordingly, the Group has prepared its financial reports under assumption that the Group will continue operating for an unlimited period of time.

During preparation of financial reports, the Management Board is responsible:

• · for the selection and, thereafter, for consistent use of appropriate accounting policies;
• · for giving reasonable and sensible assessments and estimates;
• · for applying valid financial reporting standards and for making public and explaining every materially significant discrepancy discovered in financial reports;
• · for preparing financial reports under assumption of an unlimited period of operation, except in cases when such assumption is inappropriate.

The Management Board is responsible for keeping proper accountancy records that will depict, to an acceptable level of accuracy, the financial standing and business results of the Group, in full compliance with the Accountancy Law and International Financial Reporting Standards issued by the International Accounting Standards Board (IASB). The Management Board is also responsible for protecting and safeguarding the Group's assets, and hence for undertaking every measure it deems necessary to prevent and discover cases of fraud and other illegal activity.

Signed on the behalf of the Management Board: Robert Petrosian, President of the Management Tatjana Bičanić, Member of the Management Josip Majer, Member of the Management Marija Đuroković, Member of the Management

INSTITUT IGH, d.d. Janka Rakuše 1 10000 Zagreb, Hrvatska

TEL: +385 (0)1 612 51 25 EMAlL: igh@igh.hr WEB: www.igh.hr

Poslovna banka: Hrvatska poštanska banka d.d IBAN: HR3423900011198006586 SWIFT kod: HPBZHR2X

MB. 3750272 OIB: 79766124714

Mierodavni sud: Trgovački sud u Zagrebu registarski uložak s matičnim brojem (MBS) 080000959

Temeljni kapital 14.814.630.00 €, uplaćen u cijelosti

Broj izdanih dionica: IGH 1.481.463 Nominalna vrijednost dionice 10 €

Unrava: Robert Petrosian, predsjednik Uprave Marija Đuroković, članica Uprave Tatjana Bičanić, članica Uprave Josip Majer, član Uprave

ladzorni odbor Žarko Dešković, dipl.ing.grad. , predsjednik Nadzornog Odbora

Zagreb, June 30, 2025

Subject: Management Report on business results of the Company Institut IGH d.d. and its subsidiaries in the period from January 1 to June 30 2025.

Institut IGH d.d.

In the period from January to June 2025, Institut IGH d.d operated with revenue amounting to EUR 9,1 million. Operating expenses are (excluding amortization) amount to EUR 7,8 million.

After the amortization cost in the amount of EUR 1 milion, negative effect of interest and exchange rate differences in the amount of EUR 101 thousands, Institut IGH d.d operated at a loss amounting EUR 124 thousands.

The Company actively implements the policy of increasing liquidity and shortening the period of settlement of liabilities to suppliers and The company's activities are also carried out in foreign markets through representative offices, Georgia, Armenia, Hungary, Italy, where they generate income from infrastructure projects of importance in the mentioned markets.

The Company continues to fulfill the set short-term activity plan, improve and further digitize business processes, and invest in new areas of activities such as research and development, waste management, and expansion of already started ones such as BIM.

Between January 1 and June 30, 2025 the new contracts were contracted in total of EUR 5,6 million.

IGH Group

In the period from January to June 2025, IGH Group operated at a revenue amounting to EUR 9,1 million. Operating expenses (excluding amortization) amount to EUR 7,8 million.

offer the amortization cost in the amount of EUR 1 million, negative effect of interest and exchange rate Afferences in the amount of EUR 101 thousands, IGH Group operated at a gross loss amounting EUR 127 thousands.

the IGH Institute continues with further enhanced activities defined by the Strategic Development Plan until The for histiate continues ments and investments in projects of significant interest for the development of the Institute and the Group. In addition, the IGH Institute is focused on increasing labour productivity and efficient and efficient realization of projects.

productivity and emecificant and resources, activities in international markets aimed at sustainable growth and development of the Company and Group are intensifying.

Signed on the behalf of the Management Board: Robert Petrosian, President of the Management Tatjana Bičanić, Member of the Management Josip Majer, Member of the Management Marija Đuroković, Member of the Management

INSTITUT IGH, d.d. Janka Rakuše 1 10000 Zagreb, Hrvatska

TEL: +385 (0)1 612 51 25 EMAIL: igh@igh.hr WEB: www.igh.hr

Poslovna banka: Hrvatska poštanska banka d.d IBAN: HR3423900011198006586 SWIFT kod: HPBZHR2X

MB: 3750272 OIB: 79766124714

Mjerodavni sud: Trgovački sud u Zagrebu registarski uložak s matičnim brojem (MBS) 080000959

Temeljni kapital: 14.814.630,00 €, uplaćen u cijelosti

Broi izdanih dionica: IGH 1.481.463 Nominalna vrijednost dionice 10 €

Uprava: Robert Petrosian, predsjednik Uprave
Marija Đuroković, članica Uprave Tatjana Bičanić, članica Uprave Josip Majer, član Uprave

Nadzorni odbor: Žarko Dešković, dipl.ing.grad. predsjednik Nadzornog Odbora

Annex 1		ISSUER'S GENERAL DATA
Reporting period:		1.1.2025	30.6.2025 to
Year:		2025
Quarter:		2.
		Quarterly financial statements
egistration number (MB):	03750272	Issuer's home Member	HR State code:
Entity's registration number (MBS):	080000959
Personal identification number (OIB):	79766124714		LEI: 74780000W0UQ8MF2FU71
Institution code:	1461
Name of the issuer: INSTITUT IGH d.d.
Postcode and town:	10000	Zagreb
reet and house number: Janka Rakuše 1
E-mail address: ligh@igh.hr
	Web address: http://www.igh.hr
Number of employees (end of the reporting	330
Consolidated report: KD		(KN-not consolidated/KD-consolidated)
Audited: RN		(RN-not audited/RD-audited)
Names of subsidiaries (according to IFRS):			Registered office:	MB:
	Bookkeeping firm:		(name of the bookkeeping firm)
Contact person:
Telephone:		(only name and surname of the contact person)
E-mail address:
Audit firm:
Certified auditor:	(name of the audit firm)

BALANCE SHEET

balance as at 30.06.2025.

in EUR

Submitter: INSTITUT IGH D.D.		Last day of the	At the reporting date
Item	ADP code	preceding business vear	of the current period
1	S	SP	4
A) RECEIVABLES FOR SUBSCRIBED CAPITAL UNPAID	001	0	9.555.728
B) FIXED ASSETS (ADP 003+010+020+031+036)	002	10.328.125	20.939
I INTANGIBLE ASSETS (ADP 004 to 009)	003	25.338	0
1 Research and development	004	0
2 Concessions, patents, licences, trademarks, software and other	005	16.643	12.244
rights		4.280	4.280
3 Goodwill	006	0	0
4 Advances for the purchase of intangible assets	007	4.415	4.415
5 Intangible assets in preparation	008	0	0
6 Other intangible assets	009	8.053.264	7.340.155
II TANGIBLE ASSETS (ADP 011 to 019)	010	877.949	877.949
1 Land	011		1.497.224
2 Buildings	012	1.498.144	4.237.736
3 Plant and equipment	013	4.930.037	511.361
4 Tools, working inventory and transportation assets	014	548.060	0
5 Biological assets	015	0	39.554
6 Advances for the purchase of tangible assets	016	39.554
7 Tangible assets in preparation	017	40.348	57.159
8 Other tangible assets	018	40.424	40.424
9 Investment property	019	78.748	78.748
III FIXED FINANCIAL ASSETS (ADP 021 to 030)	020	2.116.230	2.063.174
1 Investments in holdings (shares) of undertakings within the group	021		0 0
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		1.990.842	1.990.842
	024
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	026		0 0
interests			0 0
7 Investments in securities	027		72.332
8 Loans, deposits, etc. given	028	125.388	0
9 Other investments accounted for using the equity method	029		0 0
10 Other fixed financial assets	030		0 131.460
IV RECEIVABLES (ADP 032 to 035)	034	133.293	0
1 Receivables from undertakings within the group	032		0
2 Receivables from companies linked by virtue of participating	033		0 0
interests
3 Customer receivables	034	130.722	128.889
4 Other receivables	035	2.571	2.571
V DEFERRED TAX ASSETS	036		0 0
C) CURRENT ASSETS (ADP 038+046+053+063)	037	7.370.160	7.596.128
	033	75.619	75.619
I INVENTORIES (ADP 039 to 045)	039		0 0
1 Raw materials and consumables	040	75.619	75.619
2 Work in progress	041		0
3 Finished goods	042		0
4 Merchandise	043		0
5 Advances for inventories	044		0
6 Fixed assets held for sale	045		O
7 Biological assets	046	3.344.937	4.010.577
II RECEIVABLES (ADP 047 to 052)	047		0
1 Receivables from undertakings within the group
2 Receivables from companies linked by virtue of participating	048	6.145	6.145
interests	049	2.238.582	2.487.731
3 Customer receivables

4 Receivables from employees and members of the undertaking	050	140.646	180.583
5 Receivables from government and other institutions		138.776	155.184
6 Other receivables	052	820.788	1.180.928
III CURRENT FINANCIAL ASSETS (ADP 054 to 062)	053	3.809.957	3.450.315
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	0
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	059	0	0
interests
7 Investments in securities	060	3.539	3.539
8 Loans, deposits, etc. given	061	3.785.070	3.425.428
9 Other financial assets	062	21.348	21.348
IV CASH AT BANK AND IN HAND	063	139.647	59.617
D ) PREPAID EXPENSES AND ACCRUED INCOME	064	2.001.779	3.626.704
E TOTAL ASSETS (ADP 001+002+037+064)	065	19.700.064	20.778.560
OFF-BALANCE SHEET ITEMS	066	0	0
LABIES
A) CAPITAL AND RESERVES (ADP 068 to	067	4.183.256	4.276.461
070+076+077+083+086+089)
I INITIAL (SUBSCRIBED) CAPITAL	063	14.814.630	14.814.630
II CAPITAL RESERVES	069	-33.895	-33.895
III RESERVES FROM PROFIT (ADP 071+072-073+074+075)	07.0	-291.606	-291.606
1 Legal reserves	071	O	0
2 Reserves for treasury shares	072	191.958	191.958
3 Treasury shares and holdings (deductible item)	073	-483.564	-483.564
4 Statutory reserves	074	0	0
5 Other reserves	075	0	0
IV REVALUATION RESERVES	076	2.191.656	2.019.914
V FAIR VALUE RESERVES AND OTHER (ADP 078 to 082)	077	193.674	193.674
1 Financial assets at fair value through other comprehensive income
(i.e. available for sale)	078	133.711	133.711
2 Cash flow hedge - effective portion	079	O	0
3 Hedge of a net investment in a foreign operation - effective portion	030	0	0
4 Other fair value reserves	081	0	0
5 Exchange differences arising from the translation of foreign
operations (consolidation)	082	59.963	59.963
VI RETAINED PROFIT OR LOSS BROUGHT FORWARD (ADP 084-	083	-13.941.783	-12.656.292
085)
1 Retained profit	084	0
2 Loss brought forward	035	13.941.783	12.656.292
VII PROFIT OR LOSS FOR THE BUSINESS YEAR (ADP 087-088)	086	1.186.497	165.953
1 Profit for the business year	087	1.186.497	165.953
2 Loss for the business year	088	O	0
VIII MINORITY (NON-CONTROLLING) INTEREST	089	64.083	64.083
B) PROVISIONS (ADP 091 to 096)	090	324.272	324.272
1 Provisions for pensions, termination benefits and similar obligations	091	78.859	78.859
2 Provisions for tax liabilities	092	O	0
3 Provisions for ongoing legal cases	093	245.413	245.413
4 Provisions for renewal of natural resources	094	0	0
5 Provisions for warranty obligations	095	O	0
6 Other provisions	096	0	0
C) LONG-TERM LIABILITIES (ADP 098 to 108)	097	2.652.014	2.438.325
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

18 - 31 T

4 Liabilities for loans, deposits etc. of companies linked by virtue of
participating interests	101	0	0
5 Liabilities for loans, deposits etc.	102	2.231.519	2.055.530
6 Liabilities to banks and other financial institutions	103	200	200
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	0	0
11 Deferred tax liability	108	420.295	382.595
D) SHORT-TERM LIABILITIES (ADP 110 to 123)	109	12.001.716	13.317.596
1 Liabilities to undertakings within the group	110	0	0
2 Liabilities for loans, deposits, etc. of undertakings within the group	111	0	0
3 Liabilities to companies linked by virtue of participating interests	112	409.861	409.861
4 Liabilities for loans, deposits etc. of companies linked by virtue of participating interests	113	0	0
5 Liabilities for loans, deposits etc.	114	4.182.750	3.998.273
6 Liabilities to banks and other financial institutions	115	0	26.205
7 Liabilities for advance payments	116	776.494	870.032
8 Liabilities to suppliers	117	3.916.242	4.826.325
9 Liabilities for securities	118	0	0
10 Liabilities to employees	119	726.022	748.836
11 Taxes, contributions and similar liabilities	120	1.430.700	1.717.159
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	559.647	720.905
E) ACCRUALS AND DEFERRED INCOME	124	538.806	421.906
F) TOTAL - LIABILITIES (ADP 067+090+097+109+124)	1925	19.700.064	20.778.560
G) OFF-BALANCE SHEET ITEMS	126	0	0

STATEMENT OF PROFIT OR LOSS for the period 01.01.2025 to 30.06.2025

Submitter: INSTITUT IGH D.D. Same period of the previous year ADP Current period ltem code Cumulative Quarter Cumulative Quarter 2 3 4 5 દિ OPERATING INCOME (ADP 002 to 006) 001 10.283.843 5.290.169 9.154.917 5.364.011 1 Income from sales with undertakings within the group 002 0 0 0 0 2 Income from sales (outside group) 003 9.067.550 5.290.169 8.641.317 5.364.011 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 0 0 0 O 5 Other operating income (outside the group) 006 1.216.293 0 513.600 0 OPERATING EXPENSES (ADP 08+009+013+017+018+019+022+029) 007 9.669.437 5.118.602 8.897.707 4.690.086 1 Changes in inventories of work in progress and finished goods 008 0 0 0 0 2 Material costs (ADP 010 to 012) 009 2.453.404 1.493.742 2.396.343 1.408.541 a) Costs of raw materials and consumables 010 334.458 173.105 316.770 146.155 b) Costs of goods sold 011 0 0 0 O c) Other external costs 012 2.118.946 1.320.637 2.079.573 1.262.386 3 Staff costs (ADP 014 to 016) 013 5.440.339 2.847.115 5.090.859 2.605.001 a) Net salaries and wages 014 3.442.065 1.813.372 3.216.225 1.678.829 b) Tax and contributions from salary costs 015 1.327.560 690.666 1.244.787 614.358 c) Contributions on salaries 016 670.714 343.077 629.847 311.814 4 Depreciation 017 1.137.416 507 202 1.041.940 517.358 5 Other costs 018 263.132 171.142 322.824 130.380 6 Value adjustments (ADP 020+021 019 175,670 4.476 24 327 8.727 a) fixed assets other than financial assets 020 0 0 0 0 b) current assets other than financial assets 021 175.670 4.476 24.327 8.727 7 Provisions (ADP 023 to 028) 022 0 0 0 0 a) Provisions for pensions, termination benefits and similar obligations 023 0 0 0 0 b) Provisions for tax liabilities 024 0 0 0 0 c) Provisions for ongoing legal cases 025 0 0 0 0 d) Provisions for renewal of natural resources 026 0 0 0 0 e) Provisions for warranty obligations 027 0 0 0 0 f) Other provisions 028 0 0 0 O 8 Other operating expenses 029 199,476 94.925 21.414 20.079 III FINANCIAL INCOME (ADP 031 to 040) 030 14.949 14.292 25.133 21.677 1 Income from investments in holdings (shares) of undertakings within 031 0 0 0 0 the group 2 Income from investments in holdings (shares) of companies linked by 0 032 0 0 0 virtue of participating interests 3 Income from other long-term financial investment and loans granted to 033 0 0 0 0 undertakings within the group 4 Other interest income from operations with undertakings within the 034 0 0 0 0 aroup 5 Exchange rate differences and other financial income from operations 0 035 0 0 0 with undertakings within the group 6 Income from other long-term financial investments and loans 036 0 0 0 0 7 Other interest income 037 299 197 1.148 983 8 Exchange rate differences and other financial income 038 1.014 459 377 138 9 Unrealised gains (income) from financial assets 030 0 0 0 0 10 Other financial income 040 13.636 13.636 23.608 20 556 IV FINANCIAL EXPENSES (ADP 042 to 048) 041 117.830 70.049 155.775 78,282 1 Interest expenses and similar expenses with undertakings within the 042 0 0 0 0 group 2 Exchange rate differences and other expenses from operations with 043 0 0 0 0 undertakings within the group 3 Interest expenses and similar expenses OAA 93.289 55.376 122.138 50.255 4 Exchange rate differences and other expenses 045 17.158 14.673 28.315 27.480 5 Unrealised losses (expenses) from financial assets 046 0 0 0 0 6 Value adjustments of financial assets (net) 047 0 0 0 0 7 Other financial expenses 048 7.383 0 5.322 547 V SHARE IN PROFIT FROM UNDERTAKINGS LINKED BY VRITUE OF 049 0 0 0 0 PARTICIPATING INTERESTS VI SHARE IN PROFIT FROM JOINT VENTURES 050 0 0 0 0 VII SHARE IN LOSS OF COMPANIES LINKED BY VIRTUE OF 051 0 0 0 0 PARTICIPATING INTEREST VIII SHARE IN LOSS OF JOINT VENTURES 052 0 0 0 0 IX TOTAL INCOME (ADP 001+030+049 +050) 053 10.298.792 5.304.461 9.180.050 5.385.688 × TOTAL EXPENDITURE (ADP 007+041+051 + 052) 054 9.787.267 5.188.651 9.053.482 4.768.368

055

056

511.525

511.525

115.810

115.810

126.568

126.568

617.320

617.320

XI PRE-TAX PROFIT OR LOSS (ADP 053-054)

1 Pre-tax profit (ADP 053-054)

2 Pre-tax loss (ADP 054-053) XII INCOME TAX	057	0	0	0	0
	058	-64.664	-42.330	-39.385	-20.535
XIII PROFIT OR LOSS FOR THE PERIOD (ADP 055-059)	059	576.189	158.140	165.953	637.855
1 Profit for the period (ADP 055-059)	060	576.189	158.140	165.953	637.855
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
1 Pre-tax profit from discontinued operations	063	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
1 Discontinued operations profit for the period (ADP 062-065)	066
2 Discontinued operations loss for the period (ADP 065-062)	067
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
1 Pre-tax profit (ADP 068)	083	0	0	0
2 Pre-tax loss (ADP 068)	070	0	0	0
XVII INCOME TAX (ADP 058+065)	071
XVIII PROFIT OR LOSS FOR THE PERIOD (ADP 068-071)	0762
1 Profit for the period (ADP 068-071)	073
2 Loss for the period (ADP 071-068)	074
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
1 Attributable to owners of the parent	076	0	0	0
2 Attributable to minority (non-controlling) interest	077	0	0	0
STATEMENT OF OTHER COMPRHENSIVE INCOME (to be filled in by undertakings subject to IFRS)
PROFIT OR LOSS FOR THE PERIOD	078	0	0	0
II OTHER COMPREHENSIVE INCOME/LOSS BEFORE TAX
(ADP 80+ 87)	079	0	0	0
III Items that will not be reclassified to profit or loss (ADP 081 to 085)	080	0	0	0
1 Changes in revaluation reserves of fixed tangible and intangible assets	081	0	0	0
2 Gains or losses from subsequent measurement of equity instruments	082	0	0	0
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
4 Actuarial gains/losses on the defined benefit obligation	084	0	0	0
5 Other items that will not be reclassified	085	0	0	0
6 Income tax relating to items that will not be reclassified	086	0	0	0
IV Items that may be reclassified to profit or loss (ADP 088 to 095)	087	0	0	0
1 Exchange rate differences from translation of foreign operations	088	0	0	0
2 Gains or losses from subsequent measurement of debt securities at	089	0	0
fair value through other comprehensive income				0
3 Profit or loss arising from effective cash flow hedging	090	0	0	0
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	092	0	0	0	0
virtue of participating interests
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-	097	0	0	0	0
086 - 096) VI COMPREHENSIVE INCOME OR LOSS FOR THE PERIOD (ADP
0784097	098	0	0	0	0
APPENDIX to the Statement on comprehensive in 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
2 Attributable to minority (non-controlling) interest	101	0	0	0	0 0

STATEMENT OF PROFIT OR LOSS for the period 01.01.2025 to 30.06.2025

Submitter: INSTITUT IGH D.D.
Item			Same period of the previous year		Current period
	code	Cumulative	Quarter	Cumulative	Quarter
1	2	3	4	5 9.154.917	ତ 5.364.011
OPERATING INCOME (ADP 002 to 006) 1 Income from sales with undertakings within the group	001 002	10.283.843 0	5.290.169 0	0	0
2 Income from sales (outside group)	003	9.067.550	5.290.169	8.641.317	5.364.011
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	0	O	0	0
5 Other operating income (outside the group)	006	1.216.293	0	513.600	0
II OPERATING EXPENSES (ADP 08+009+013+017+018+019+022+029)	007	9.669.437	5.118.602	8.897.707	4.690.086
1 Changes in inventories of work in progress and finished goods	008	0	0	0	0
2 Material costs (ADP 010 to 012)	009	2.453.404	1.493.742	2.396.343	1.408.541
a) Costs of raw materials and consumables	010	334.458	173.105	316.770	146.155
b) Costs of goods sold	011	0	0	0	0
c) Other external costs	012	2.118.946	1.320.637	2.079.573	1.262.386
3 Staff costs (ADP 014 to 016)	013	5.440.339	2.847.115	5.090.859	2.605.001
a) Net salaries and wages	014	3.442.065	1.813.372	3.216.225 1.244.787	1.678.829 614.358
b) Tax and contributions from salary costs	015	1.327.560	690.666 343.077	629.847	311.814
c) Contributions on salaries	016 017	670.714 1.137.416	507.202	1.041.940	517.358
4 Depreciation	018	263.132	171.142	322.824	130.380
5 Other costs 6 Value adjustments (ADP 020+021)	019	175.670	4.476	24.327	8.727
a) fixed assets other than financial assets	020	0	0	0	0
b) current assets other than financial assets	021	175.670	4.476	24.327	8.727
7 Provisions (ADP 023 to 028)	022	0	6	0	0
a) Provisions for pensions, termination benefits and similar obligations	023	0	0	0	0
b) Provisions for tax liabilities	024	0	0	0	0
c) Provisions for ongoing legal cases	025	0	0	0	0
d) Provisions for renewal of natural resources	026	0	0	0	0
e) Provisions for warranty obligations	027	0	0	0	0
f) Other provisions	028	0	0	0	0
8 Other operating expenses	029	199.476	94.925	21.414	20.079
III FINANCIAL INCOME (ADP 031 to 040)	030	14.949	14.292	25.133	21.677
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 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	0	0	0	0
4 Other interest income from operations with underlakings within the group	034	0	0	0	0
5 Exchange rate differences and other financial income from operations with undertakings within the group	035	0	0	0	0
6 Income from other long-term financial investments and loans	036	0	0	0	0
7 Other interest income	037	299	197	1.148	883
8 Exchange rate differences and other financial income	038	1.014	459	377	138
9 Unrealised gains (income) from financial assets	039	0	0	0	0
10 Other financial income	040	13.636	13.636	23.608	20.556
IV FINANCIAL EXPENSES (ADP 042 to 048)	041	117.830	70.049	155.775	78.282
1 Interest expenses and similar expenses with undertakings within the group	042	0	0	O	0
2 Exchange rate differences and other expenses from operations with undertakings within the group	043	0	0	0	0
3 Interest expenses and similar expenses	044	93.289	55.376	122.138	50.255
4 Exchange rate differences and other expenses	045	17.158	14.673	28.315	27.480
5 Unrealised losses (expenses) from financial assets	046	0	0	0	0
6 Value adjustments of financial assets (net)	047	0	0	O	0
7 Other financial expenses	048	7.383	0	5.322	547
SHARE IN PROFIT FROM UNDERTAKINGS LINKED BY VRITUE OF PARTICIPATING INTERESTS	049	0	0	0	0
SHARE IN PROFIT FROM JOINT VENTURES VI	050	0	0	O	0
VII SHARE IN LOSS OF COMPANIES LINKED BY VIRTUE OF	051	0	0	0	0
PARTICIPATING INTEREST
VIII SHARE IN LOSS OF JOINT VENTURES	052	0	0	0	0
IX TOTAL INCOME (ADP 001+030+049 +050)	053	10.298.792	5.304.461	9.180.050 9.053.482	5.385.688 4.768.368
TOTAL EXPENDITURE (ADP 007+041+051 + 052)	054 055	9.787.267 511.525	5.188.651 115.810	126.568	617.320
PRE-TAX PROFIT OR LOSS (ADP 053-054) XI 1 Pro-tov profit (ADD 053.05A)	056	511 525	115 810	126 568	617 320

in EUR

STATEMENT OF CASH FLOWS - direct method

ADP Same period of the Item Current period previous year code 2 3 4 Cash flow from operating activities 1 Cash receipts from customers 001 2 Cash receipts from royalties, fees, commissions and other revenue 002 3 Cash receipts from insurance premiums 003 4 Cash receipts from tax refund 004 5 Other cash receipts from operating activities 005 I Total cash receipts from operating activities (ADP 001 to 005) 0 006 1 Cash payments to suppliers 007 2 Cash payments to employees 008 3 Cash payments for insurance premiums 009 4 Interest paid 010 5 Income tax paid 011 6 Other cash payments from operating activities 012 Il Total cash payments from operating activities (ADP 007 to 012) 013 0 A) NET CASH FLOW FROM OPERATING ACTIVITIES (ADP 006 + 013) 0 014 Cash flow from investment activities 1 Cash receipts from sales of fixed tangible and intangible assets 015 2 Cash receipts from sales of financial instruments 016 3 Interest received 017 4 Dividends received 018 5 Cash receipts from the repayment of loans and deposits 019 6 Other cash receipts from investment activities 020 Ill Total cash receipts from investment activities (ADP 015 to 020) 021 0 1 Cash payments for the purchase of fixed tangible and intangible 022 assets 2 Cash payments for the acquisition of financial instruments 0223 3 Cash payments for loans and deposits 024 4 Acquisition of a subsidiary, net of cash acquired 025 5 Other cash payments from investment activities 026 IV Total cash payments from investment activities (ADP 022 to 026) 0977 0 B) NET CASH FLOW INVESTMENT ACTIVITIES (ADP 021 + 028 0 02-0 Cash flow from financing activities 1 Cash receipts from the increase in initial (subscribed) capital 029 2 Cash receipts the from issue of equity financial instruments and debt 030 financial instruments 3 Cash receipts from credit principals, loans and other borrowings 031 4 Other cash receipts from financing activities 032 V Total cash receipts from financing activities (ADP 029 to 032) 033 0 1 Cash payments for the repayment of credit principals, loans andother 034 borrowings and debt financial instruments 2 Cash payments for dividends 035 3 Cash payments for finance lease 036 4 Cash payments for the redemption of treasury shares and decrease 037 in initial (subscribed) capital 5 Other cash payments from financing activities 038 VI Total cash payments from financing activities (ADP 034 to 038) 039 0 0 NET CASH FLOW FROM FINANCING ACTIVITIES (ADP 033 +039) 040 0 1 Unrealised exchange rate differences in respect of cash and cash 041 equivalents D) NET INCREASE OR DECREASE IN CASH FLOWS (ADP 014 + 028 + 042 0 040 + 041) E) CASH AND CASH EQUIVALENTS AT THE BEGINNING OF THE 043 PERIOD	Submitter:			in EUR
				0
				0
				0
				0
				9
				0
				0
				0
				0
				0
F) CASH AND CASH EQUIVALENTS AT THE END OF THE PERIOD
(042+043)		044	0	0

STATEMENT OF CASH FLOWS - indirect method for the period 01.01.2025 to 30.06.2025

Submitter: INSTITUT IGH D.D.			in EUR
Item	ADP code	Same period of the previous year	Current period
1	8	8
Cash flow from operating activities
1 Pre-tax profit 2 Adjustments (ADP 003 to 010):	001	511.525	126.568
a) Depreciation	002 003	1.223 133 1.137.416	1.042.272 1.041.940
b) Gains and losses from sale and value adjustment of fixed tangible and
intangible assets	004	680.065	0
c) Gains and losses from sale and unrealised gains and losses and value adjustment of financial assets	005	0	0
d) Interest and dividend income	006	0	0
e) Interest expenses	007	0	0
f) Provisions	008	0	2.864
g) Exchange rate differences (unrealised)	009	0	0
h) Other adjustments for non-cash transactions and unrealised gains and losses	010	-594.348	-2.532
I Cash flow increase or decrease before changes in working capital
(ADP 001+002)	ીને ઉ	1.734.658	1.168.840
3 Changes in the working capital (ADP 013 to 016)	012	-1.054.672	254.743
a) Increase or decrease in short-term liabilities	013	1.175.604	2.941.876
b) Increase or decrease in short-term receivables	014	-1.286.299	-737.271
c) Increase or decrease in inventories	015	0	0
d) Other increase or decrease in working capital	016	-943.977	-1.949.862
Il Cash from operations (ADP 011+012)	017	679.986	1.423.583
4 Interest paid	018	0	0
5 Income tax paid	019	0	0
A) NET CASH FLOW FROM OPERATING ACTIVITIES (ADP 017 to 019)	020	679.986	1.423.583
Cash flow from investment activities
1 Cash receipts from sales of fixed tangible and intangible assets	021	0	0
2 Cash receipts from sales of financial instruments	022	0
3 Interest received	023	0	0
4 Dividends received	024	0	00
5 Cash receipts from repayment of loans and deposits	025	0	0
6 Other cash receipts from investment activities	026	0	0
III Total cash receipts from investment activities (ADP 021 to 026)	027	0	0
1 Cash payments for the purchase of fixed tangible and intangible assets	028	0	0
2 Cash payments for the acquisition of financial instruments	029	0	0
3 Cash payments for loans and deposits for the period	030	-1.058.166	0
4 Acquisition of a subsidiary, net of cash acquired	031	0	0
5 Other cash payments from investment activities	032	0	0
IV Total cash payments from investment activities (ADP 028 to 032)	033	-1.058.166	0
B) NET CASH FLOW FROM INVESTMENT ACTIVITIES (ADP 027 +033)	034	-1.058.166	0
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	0	184.026
	038	4.391	0
V Total cash receipts from financing activities (ADP 035 to 038)	039	4.391	184.026
1 Cash payments for the repayment of credit principals, loans and other	040	0	-1.607.886
borrowings and debt financial instruments
2 Cash payments for dividends	041	0	0
3 Cash payments for finance lease 4 Cash payments for the redemption of treasury shares and decrease in	042	0	0
initial (subscribed) capital	043	0	0
5 Other cash payments from financing activities	044	0	0
VI Total cash payments from financing activities (ADP 040 to 044)	045	0	-1.607.886
C) NET CASH FLOW FROM FINANCING ACTIVITIES (ADP 039 +045)	046	4.391	-1.423.860
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	373.789	-24/7
E) CASH AND CASH EQUIVALENTS AT THE BEGINNING OF THE PERIOD	049	433.683	59.894
F) CASH AND CASH EQUIVALENTS AT THE END OF THE
PERIOD(ADP 048+049)	050	59.894	59.617

to for the period from 1.1.2025	30 6.2025															u EUR
Rem	ទូរ		Capital reserves	Lugal reserves	earress for Time shortes os		Other recerves	100000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000			Crimer form and	ellers	loga brought	Profitfree for the Total stiriburable (s) hustonees year		ിന്റെ സ്വാതന്ത്രി
vious period
1 Balance on the first day of the provious business year 2 Changes in accounting policies	2 ຊ	14 814 030	-33.805		191 958	483 564		2.507 022	133,719			-35.170	-18.265.428	4 985 294	త్రి ఈ రింగ్ రూపా 3.814	63 082
4 Balance on the first day of the previous business year (restated) (ADP D 1 10 3 Cerrection of errars	00
5 Profitioss of the period 03)	8 8 8	10 14.614.630	-33.805		104.068	483.56		2.507.022	133.71			-35.170	-18.205.429	4.985.29	3.814.558	63.082
7 Changes in revaluation reserves of fixed tangible and inlangible assets 6 Exchange rate differences from translation of foreign operations	07											95.133			05,133 180	2.00-
6 Gains or losses from subsequent measurement of financial assets at fair value Ihrough ather comprehensive income (available for sale)	08												661 641		-977.011
9 Profit or loss arising from effective cash Bow heage	60
so Profit or loss arising from effective negge of a net investment in a foreign operation	10
11 Share in other comprehensive incomelloss of companies linked by virtue of participating Interests 12 Actuarial gains losses on the defined benefit obligation	11
13 Other changes in equity unrelated to owners 14 Tax on transactions recognised directly in equity	===
15 Decrease in initial (subscribed) capital (other than arising from the pro-bankruptcy settlement procedure or from the reinvestment of profili	si			11111 211111111111111111111	11/10	11/1/19/
16 Decrease in Initial (subscribed) capital arising from the pre-bankrupt y settlement
cocodura	16
17 Decrease in Initial (subscribed) capital arising from the reinvestment of profit	と
19 Payments from membersishareholders 18 Redemption of treasury sharesmoldings	18 ୍ତା
20 Payment of share in profitalderidend	steller of the for
21 Other distributions and payments to mombors.ishareholders 22 Transfer to reserves according to the annual schedule
23 Increase in reserves a ising from the pre-bankruptcy a times on the many of the many of the	u												4.005 204	-6.985.20
APPENDIX TO THE STATEMENT OF CHANGES IN EQUITY (to be filled in by un	24	14.814.630 claim r up fin	-33.605 in In socore	0 h the IFRS)	101.058	483.664		2.191.650	133.711			50.05	-13.941.783	1.186.497	4.119.173	64 083
I OTHER COMPREHENSIVE INCOME OF THE PREVIOUS PERIOD, NET OF TAX (ADP 00 10 14)	25	0						315.366				95.133	661.649
II COMPREHENSIVE INCOME OR LOSS FOR THE PREVIOUS PERIOD (ADP 05+25)	20			0											-881.887
								-315.366				95,133	-001,046	1.186.49.	304.615	1.001
III TRANSACTIONS WITH OWNERS IN THE PREVIOUS PERIOD RECOONISED DIRECTLY IN EQUITY (ADP 15 to 23) Current period	27			0									4.085.204	-4.985.204
1 Balance on the first day of the current business year 2 Changes in accounting policies		14,814 630	-33 895		181.956	483,564
Correction of en ors	2 2 2 5							2.191.656	133.71			59.963	-13 041.783	1,186 497	4.119.173	84 08
4 Balance on the first day of the current business year (rectated) (A.OP 26 to 30)	31	14,814,630	33,895		191.058	483.56
5 ProfitAoss of the period	ಬ		10					2.101.05	133.71			50.000	-13.941.783	1 186.49	4,119,172	Now
6 Exchange rate differences from translation of freeign operations	CC							દીદર							165
8 Gains or losses from subsequent measurement of financial assets af fair value 7 Changes in revaluation reserves of fixed tangible and intangible assels	34							-171.742					08 90		-72.7
hrough other comprehensive income (available for sale)	૩ ક
Profit or loss answar from effective cash flow hedge	36
10 Profit or loss arising from affective hedge of a nel investment in a foreign operation	37
11 Share in other comprehensive income/loss of companies linked by virtue of participating interests	88
12 Actuarial gains/losses on the defined benefit obligation 13 Other changes in equity unrelated to owns	一号 号
14 Tax on transactions recognised directly in equity		(11/11/11/2/11/11/11/11/11/11/11/11/11/11/11/11/11/11/11/11/11/11/11/11/11/11/11/11/11/11/11/11/11/11/11/11/11/11/11/11/11/11/11/11/11/11/11/11/11/11/11/11/11/11/11/11/11/11/
15 Decrease in initial (subscribed) capital (other than arising from the pre-bankruptcy settlement procedure or from the reinvestment of profit) 16 Decrease In initial {subscribed} capital ansing from the pre-bankruptcy settlem	42
procedure	43
17 Decrease in initial (subscribed) capital arising from the relinestment of profit	44
18 Redemption of treasury shares/holdings 19 Payments from members/shareholders	SP
21 Other distributions and payments to members/sharehol/ars 20 Payment of share in profitidividend	ることな
23 Increase in reserves arising from the pre-bankruptcy setSement procedure 22 Garyforward per annual plane	28												1 186 497	-1.186 497
24 Belance on the last day of the current business year reporting period (ADP) 31 to 50)	51	14,814,630	-33.895	0	191.658	483.584
APPENDIX TO THE STATEMENT OF CHANGES IN EQUITY (to be filled in by un		akings that draw up financial while	ents in accordance with the IFRS)					2.019.914	133 711			50.063	-12.656.292	165,053	4 212.378	64,083
I OTHER COMPREHENSIVE INCOME FOR THE CURRENT PERIOD, NET OF I TAX (ADP 33 to 41)	52	0	0					-171 742
													98.994		-72748

ﺍﻟﻤﺴﺘﻘﻠﺔ ﺍﻟﻤﺘﺤﺪﺓ

---

03, 200

(1978) :

1000 40

179.78

જ

I TRANSACTIONS WITH OWNERS IN THE CURRENT PERIOD R
IRECTLY IN EQUITY (ADP 42 to 50)

2)

ﺍﻟﻤﺴﺘﻮﻯ ﺍﻟﻤ

NOTES TO FINANCIAL STATEMENTS - TFI
{dmivin up for quarterly reporting periods}

Name of the issuer: INSTITUT IGH, did
Personal identification number (OIB) 79768124714
Reporting period 1st January, 2025 to 30th June, 2025

ീ be blandslation in the promotes of contrinted in the became of the color of the management in the see posted an cominer in the semployation the prominent on oncolery while

. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

where a provision for deferred tax is recognised in the b

delement to not of hancel per and movel in the blanced mind to the mail year.
Mente la lable in excepted to be revient of the works of ender many and a la more and the mini