Institut IGH d.d.

Quarterly Report • Apr 30, 2025

Ordinary share IGH-R-A, ISIN HRIGH0RA0006 Listed on the official market of the Zagreb Stock Exchange Home Member State: Croatia LEI mark: 74780000W0UQ8MF2FU71

ZAGREB STOCK EXCHANGE lvana Lučića 2a 10000 Zagreb

HANFA Miramarska 24h 10000 Zagreb

HINA ots@hina.hr

Zagreb, Aprile 30, 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 March 2024 are prepared in accordance with the Accountancy Law (Official Gazette 78/15, 133/15, 120/16) and International Financial 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 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 (ASB). The Management Board is also responsible for protecting 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

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No of issued shares: Hickig I datail
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Hpornsory Board 1 511 400 The statul Backed

Zagreb, March 31, 2025

Subject: Management Report on business results of the Company Institut IGH d.d. and its subsidiaries in the period from January 1 to March 31 2025.

Institut IGH d.d.

In the period from January to March 2025, Institut IGH d.d operated with revenue amounting to EUR 3,8 million. Operating expenses are (excluding amortization) amount to EUR 3,6 million.

After the amortization cost in the amount of EUR 0,5 milion, negative effect of interest and exchange rate differences in the amount of EUR 77 thousands, Institut IGH d.d operated at a loss amounting EUR 400 thousands.

The Company actively implements the policy of increasing liquidity and shortening the period of settlement of liabilities to suppliers and subcontractors of the Company, and the collection of overdue receivables within the agreed deadlines.

The company's activities are aimed at opening representative offices in new markets (Georgia, Armenia, Hungary, Italy) where new infrastructure projects of importance are expected in these 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 March 31, 2025 the new contracts were contracted in total of EUR 3,5 million.

IGH Group

In the period from January to March 2025, IGH Group operated at a revenue amounting to EUR 3,8 million. Operating expenses (excluding amortization) amount to EUR 3,6 million.

After the amortization cost in the amount of EUR 0,5 million, negative effect of interest and exchange rate differences in the amount of EUR 77 thausands, IGH Group operated at a gross loss amounting EUR 388 thousands.

The IGH Institute continues with further enhanced activities defined by the Strategic Development Plan until 2027, which plans additional investments 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.

With all the above and the company's human resources, activities in international markets aimed at sustainable growth and development of the Company and Group are intensifying.

	Robert Petrosian	On behalf of the INSTITUT IGH, d.d. President of the Management Board
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Annex 1
	ISSUER'S GENERAL DATA
Reporting period:	1.1.2025 31.3.2025 to
Year:	2025
Quarter:	1.
	Quarterly financial statements
egistration number (MB): 03750272	Issuer's home Member HR State code:
Entity's registration 080000959 number (MBS):
Personal identification 79766124714 number (OIB):	74780000W0UQ8MF2FU71 LEI:
Institution 1461 code:
Name of the issuer: INSTITUT IGH d.d.
Postcode and town: 10000	Zagreb
treet and house number: Janka Rakuše 1
E-mail address: igh@igh.hr
Web address: http://www.igh.hr
Number of employees 344 (end of the reporting
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:
	(only name and surname of the contact person)
Telephone:
E-mail address:
Audit firm:l
	(name of the audit firm)
Certified auditor:
	(name and surname)

BALANCE SHEET balance as at 31.03.2025.

Submitter: INSTITUT IGH D.D.

ltem

Last day of the At the reporting date ADP preceding business of of the current period

	Color:	year
1	2	3	4
A) RECEIVABLES FOR SUBSCRIBED CAPITAL UNPAID	001	0	0
B) FIXED ASSETS (ADP 003+010+020+031+036)	002	10.328.125	10.072.919
I INTANGIBLE ASSETS (ADP 004 to 009)	003	25.338	22.983
1 Research and development	004	0	0
2 Concessions, patents, licences, trademarks, software and other rights	005	16.643	14.288
3 Goodwill	006	4.280	4.280
4 Advances for the purchase of intangible assets	007	0	0
5 Intangible assets in preparation	008	4.415	4.415
6 Other intangible assets	009	O	0
II TANGIBLE ASSETS (ADP 011 to 019)	010	8.053.263	7.836.518
1 Land
	011	877.949	877.949
2 Buildings	012	1.498.144	1.497.684
3 Plant and equipment	013	4.930.037	4.695.358
4 Tools, working inventory and transportation assets	014	548.060	549.512
5 Biological assets	015	0	0
6 Advances for the purchase of tangible assets	016	39.554	39.554
7 Tangible assets in preparation	017	40.348	57.290
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	2.081.372
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 participating interests	0924	1.990.842	1.990.842
5 Investment in other securities of companies linked by virtue of participating interests	025	O	0
6 Loans, deposits etc. to companies linked by virtue of participating	026	0	0
interests
7 Investments in securities	0727	0	0
8 Loans, deposits, etc. given	0723	125.388	90.529
9 Other investments accounted for using the equity method	0729	0	0
10 Other fixed financial assets	030	0	0
IV RECEIVABLES (ADP 032 to 035)	031	133.293	132.046
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	130.722	129.476
4 Other receivables	035	2.571	2.571
V DEFERRED TAX ASSETS	036	0	0
C) CURRENT ASSETS (ADP 038+046+053+063)	037	7.370.158	7.663.715
I INVENTORIES (ADP 039 to 045)	033	75.619	75.619
1 Raw materials and consumables	039	0	0
2 Work in progress	040	75.619	75.619
3 Finished goods	041	0	0
4 Merchandise	042	O	0
5 Advances for inventories	043	0	0
6 Fixed assets held for sale	044	0
7 Biological assets	045	0	0 0
II RECEIVABLES (ADP 047 to 052)	046	3.344.937
			4.128.382

in EUR

1 Receivables from undertakings within the group	047	0	0
2 Receivables from companies linked by virtue of participating	048	6.145	6.145
interests
3 Customer receivables	049	2.238.582	2.627.405
4 Receivables from employees and members of the undertaking	050	140.646	131.399
5 Receivables from government and other institutions 6 Other receivables	051	138.776 820.788	145.305 1.218.128
	052 058	3.809.956	3.406.012
III CURRENT FINANCIAL ASSETS (ADP 054 to 062) 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	0-57	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		3.539
7 Investments in securities	060 061	3.785.070	3.539 3.381.126
8 Loans, deposits, etc. given 9 Other financial assets	062	21.348	21.348
IV CASH AT BANK AND IN HAND	063	139.647	53.703
D ) PREPAID EXPENSES AND ACCRUED INCOME	064	2.001.779	2.326.160
E) TOTAL ASSETS (ADP 001+002+037+064)	065	19.700.062	20.062.794
OFF-BALANCE SHEET ITEMS	066	0	0
LIABILITIES
A) CAPITAL AND RESERVES (ADP 068 to
070+076+077+083+086+089)	067	4.183.256	3.741.704
I INITIAL (SUBSCRIBED) CAPITAL	068	14.814.630	14.814.630
II CAPITAL RESERVES	0 69	-33.895	-33.895
III RESERVES FROM PROFIT (ADP 071+072-073+074+075)	070	-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	2.105.785
V FAIR VALUE RESERVES AND OTHER (ADP 078 to 082)	07.7	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	0749	O	0
3 Hedge of a net investment in a foreign operation - effective portion	030	O	0
4 Other fair value reserves	081	O	0
5 Exchange differences arising from the translation of foreign operations (consolidation)	0872	59.963	59.963
VI RETAINED PROFIT OR LOSS BROUGHT FORWARD (ADP 084-	083	-13.941.783	-12.742.245
085) 1 Retained profit	084	0	0
2 Loss brought forward	085	13.941.783	12.742.245
VII PROFIT OR LOSS FOR THE BUSINESS YEAR (ADP 087-088)	036	1.186.497	-368.722
1 Profit for the business year	087	1.186.497	-368.722
2 Loss for the business year	033	0	0
VIII MINORITY (NON-CONTROLLING) INTEREST	089	64.083	64.083
B) PROVISIONS (ADP 091 to 096)	090	324.271	324.271
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	003	245.413	245.413
4 Provisions for renewal of natural resources	094	0	0
5 Provisions for warranty obligations	095	0	0

6 Other provisions	096	0	0
C) LONG-TERM LIABILITIES (ADP 098 to 108)	097	2.652.015	2.448.423
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	2.231.519	2.046.778
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	401.445
D) SHORT-TERM LIABILITIES (ADP 110 to 123)	109	12.001.714	12.994.095
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	4.389.594
6 Liabilities to banks and other financial institutions	115	0	-7.967
7 Liabilities for advance payments	116	776.494	772.681
8 Liabilities to suppliers	117	3.916.242	4.362.631
9 Liabilities for securities	118	0	0
10 Liabilities to employees	119	726.022	694.407
11 Taxes, contributions and similar liabilities	120	1.430.700	1.781.621
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	591.269
E) ACCRUALS AND DEFERRED INCOME	124	538.805	554.300
TOTAL ~ LIABILITIES (ADP 067+090+097+109+124)	1725	19.700.062	20.062.794
G) OFF-BALANCE SHEET ITEMS	126	0	0

STATEMENT OF PROFIT OR LOSS for the period 01.01.2025 to 31.03.2025

Submitter: INSTITUT IGH D.D.

Item	ADP	Same period of the previous year		Current period
	code	Cumulative	Quarter	Cumulative	Quarter
1	2	3	4	5	6
OPERATING INCOME (ADP 002 to 006)	001	5.127.367	5.127.367	3.842.496	3.842.496
1 Income from sales with undertakings within the group	002	0	0	0	0
2 Income from sales (outside group)	003	3.777.450	3.777.450	3.277.306	3.277.306
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	0
5 Other operating income (outside the group)	006	1.349.917	1.349.917	565.190	565.190
II OPERATING EXPENSES (ADP 08+009+013+017+018+019+022+029)	0.07	4.550.835	4.550.835	4.156.031	4.156.031
1 Changes in inventories of work in progress and finished goods	008	0	0	0	0
2 Material costs (ADP 010 to 012)	009	959.662	959.662	936.212	936.212
a) Costs of raw materials and consumables	010	161.353	161.353	170.615	170.615
b) Costs of goods sold	011	0	0	0	0
c) Other external costs	012	798.309	798.309	765.597	765.597
3 Staff costs (ADP 014 to 016)	013	2.593.224	2.593.224	2.485.858	2.485.858
a) Net salaries and wages	014	1.628.693	1.628.693	1.537.396	1.537.396
b) Tax and contributions from salary costs	015	636.894	636.894	630.429	630.429
c) Contributions on salaries	016	327.637	327.637	318.033	318.033
4 Depreciation	017	630.214	630.214	524.582	524.582
5 Other costs	018	91.990	91.990	192.444	192.444
6 Value adjustments (ADP 020+021)	018	171.194	171.194	15.600	15.600
a) fixed assets other than financial assets	020	0	0	0	C
b) current assets other than financial assets	021	171.194	171.194	15.600	15.600
7 Provisions (ADP 023 to 028)	022	0	0	0	C
a) Provisions for pensions, termination benefits and similar obligations	023	0	0	0	C
b) Provisions for tax liabilities	024	0	0	0	0
c) Provisions for ongoing legal cases	025	0	0	0	C
d) Provisions for renewal of natural resources	026	0	0	0	C
e) Provisions for warranty obligations	027	0	0	0	0
f) Other provisions	028	0	0	0	0
8 Other operating expenses	029	104.551	104.551	1.335	1.335
III FINANCIAL INCOME (ADP 031 to 040)	030	657	657	3.456	3.456
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 undertakings within the group	034	0	0	0
5 Exchange rate differences and other financial income from operations with undertakings within the group	035	0	0	0
6 Income from other long-term financial investments and loans
7 Other interest income	036 037	0	0	0	0
8 Exchange rate differences and other financial income	038	102	102	165	165
9 Unrealised gains (income) from financial assets	039	555	555	239	236
10 Other financial income	040	0 0	Ol 0	01 3.052	C
IV FINANCIAL EXPENSES (ADP 042 to 048)	041	47.781	47.781	77.493	3.052
1 Interest expenses and similar expenses with undertakings within the					77.493
group	042	0	0	0	0
2 Exchange rate differences and other expenses from operations with undertakings within the group	043	O	0	0	0
3 Interest expenses and similar expenses	044	37.913	37.913	71.883	71.883
4 Exchange rate differences and other expenses	045	1.865	1.865	835	835
5 Unrealised losses (expenses) from financial assets	046	0	0	0	0
6 Value adjustments of financial assets (net)	047	O	0	0	0
7 Other financial expenses	048	8.003	8.003	4.775	4.775
SHARE IN PROFIT FROM UNDERTAKINGS LINKED BY VRITUE OF PARTICIPATING INTERESTS	049	0	0	0	0
VI SHARE IN PROFIT FROM JOINT VENTURES	050	0
SHARE IN LOSS OF COMPANIES LINKED BY VIRTUE OF VII			0	0	0
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	5.128.024	5.128.024	3.845.952	3.845.952
TOTAL EXPENDITURE (ADP 007+041+051 + 052) ×	054	4.598.616	4.598.616	4.233.524	4.233.524
PRE-TAX PROFIT OR LOSS (ADP 053-054) XI	055	529.408	529.408	-387.572	-387.572
1 Pre-tax profit (ADP 053-054)	056	529.408	529.408	0	0

in EUR

	057	0	0	-387.572	-387.572
2 Pre-tax loss (ADP 054-053)
XII INCOME TAX	058	-22.334	-22.334	-18.850	-18.850
XIII PROFIT OR LOSS FOR THE PERIOD (ADP 055-059)	059	551.742	551.742	-368.722	-368.722
1 Profit for the period (ADP 055-059)	080	551.742	551.742	0
2 Loss for the period (ADP 059-055)	061	0	0	-368.722	-368.722
DISCONTINUED OPERATIONS (to be filled in by undertakings subject to IFRS only with discontinued operations)
XIV PRE-TAX PROFIT OR LOSS OF DISCONTINUED OPERATIONS	062	O	0	0
(ADP 063-064)
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	0
1 Discontinued operations profit for the period (ADP 062-065)	066
2 Discontinued operations loss for the period (ADP 065-062)	0.67
TOTAL OPERATIONS (to be filled in only by undertakings subject to IFRS with discontinued operations)
XVI PRE-TAX PROFIT OR LOSS (ADP 055-+062)	088
1 Pre-tax profit (ADP 068)	069	0	O	0
2 Pre-tax loss (ADP 068)	070	0	O	0	0
XVII INCOME TAX (ADP 058+065)	071
XVIII PROFIT OR LOSS FOR THE PERIOD (ADP 068-071)	072
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	O	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 COMPRENSIVE INCOME (to be filled in by undertakings subject to IFRS)
PROFIT OR LOSS FOR THE PERIOD	078	0	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 at fair value through other comprehensive income	082	0	0	0
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	O	0	0
5 Other items that will not be reclassified	085	O	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	O	0	0	0
2 Gains or losses from subsequent measurement of debt securities at	089	0	0	0	0
fair value through other comprehensive income
3 Profit or loss arising from effective cash flow hedging	090	0	0	0	0
4 Profit or loss arising from effective hedge of a net investment in a foreign operation	091	O	0	0	0
5 Share in other comprehensive income/loss of companies linked by virtue of participating interests	092	O	0	0	0
6 Changes in fair value of the time value of option	093	O	0	0	0
7 Changes in fair value of forward elements of forward contracts	094	O	0	0	0
8 Other items that may be reclassified to profit or loss	095	O	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	098	0	0	0	0
078+097)
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	O	0	0
1 Attributable to owners of the parent	100	0	0	0	0
2 Attributable to minority (non-controlling) interest	101	O	O	0	0

STATEMENT OF CASH FLOWS - indirect method for the period 01.01.2025 to 31.03.2025

Submitter: INSTITUT IGH D.D.			in EUR
Item	ADP code	Same period of the previous year	Current period
	2	3	4
Cash flow from operating activities
1 Pre-tax profit	001	529.408	-387.572
2 Adjustments (ADP 003 to 010):	002	-731.990	301.628
a) Depreciation	003	630.214	524.582
b) Gains and losses from sale and value adjustment of fixed tangible and intangible assets	004	682-057	0
c) Gains and losses from sale and unrealised gains and losses and value
adjustment of financial assets	005	0
d) Interest and dividend income	006	0	0
e) Interest expenses	007	0	0
f) Provisions	008	0	0
g) Exchange rate differences (unrealised)	009	0	0
h) Other adjustments for non-cash transactions and unrealised gains and
losses	010	-2.044.261	-222.954
I Cash flow increase or decrease before changes in working capital (ADP 001+002)	011	-202.582	-85.944
3 Changes in the working capital (ADP 013 to 016)	012	277.476
a) Increase or decrease in short-term liabilities	013	719.977	0
b) Increase or decrease in short-term receivables	014	-401.631
c) Increase or decrease in inventories	015	0	0
d) Other increase or decrease in working capital	016		0
Il Cash from operations (ADP 011+012)		-40.870
4 Interest paid	017	74.894	-85.944
5 Income tax paid	018	0
	019	0
A) NET CASH FLOW FROM OPERATING ACTIVITIES (ADP 017 to 019)	020	74.894	-85,944
Cash flow from investment activities 1 Cash receipts from sales of fixed tangible and intangible assets	021	0
2 Cash receipts from sales of financial instruments	022	0
3 Interest received	023	0	0
4 Dividends received	024	0	0
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	U
2 Cash payments for the acquisition of financial instruments	029	O	0
3 Cash payments for loans and deposits for the period	030	-368.930	0
4 Acquisition of a subsidiary, net of cash acquired	031	O	0
5 Other cash payments from investment activities	032	0	0
IV Total cash payments from investment activities (ADP 028 to 032)	033	-368.930	0
B) NET CASH FLOW FROM INVESTMENT ACTIVITIES (ADP 027 +033)	034	-368.930	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 financial instruments	036	0	0
3 Cash receipts from credit principals, loans and other borrowings	037	O	0
4 Other cash receipts from financing activities	038	0	0
V Total cash receipts from financing activities (ADP 035 to 038)	0 (33)	0	0
1 Cash payments for the repayment of credit principals, loans and other borrowings and debt financial instruments	040	0	0
2 Cash payments for dividends	041	0	0

3 Cash payments for finance lease	042	0	0
4 Cash payments for the redemption of treasury shares and decrease in 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
C) NET CASH FLOW FROM FINANCING ACTIVITIES (ADP 039 +045)	046		0
1 Unrealised exchange rate differences in respect of cash and cash equivalents	047		O
D) NET INCREASE OR DECREASE IN CASH FLOWS (ADP 020+034+046+047)	048	-294.036	-85.944
E) CASH AND CASH EQUIVALENTS AT THE BEGINNING OF THE PERIOD	049	433.683	139.647
F) CASH AND CASH EQUIVALENTS AT THE END OF THE PERIOD(ADP 048+049)	050	139.647	53.703

STATEMENT OF CHANGES IN EQUITY

	T			September Separation	1	ાં આવેલા			P		bagains and the program and the comments of the comments of the comments of the comments of the comments of the comments of the comments of the comments of the comments of th				and the first and the states of the states of		1
Belanos on the first day of the previous business your (restated) (ADP 01 to 03) Profit or loss arising from effective hedge of a nel investment in a foreign operation Tax on fransections recognized directly in equilty Decrease in initial (subscribed) capital (other than anising from the pro-banknuptcy Decrease in initial (subscribed) capital ansing from the pre-bankruptcy settlement Transfer to reserves according to the annual schedule Increase in roderves arising from the pro-bankrupicy solliomont procodure Balance on the last day of the provious busine Cains or losses from subsequent measurement of financial assets at fair value Exchange rate differences from translation of foreign operations Decrease in Initial (subscribed) capital arising from the reinvestment of profit Share in other comprehensive incomestices of companies linked by virtue of Prough other comprehensive incorne (available for sale) Profit or boss arising from effective cash flow hedge Changes In revaluallion reserves of fixed langible and Intangible assets 1 Balance on the first day of the previous business year ートです。 アイア Other distributions and payments to members/shareholders - Payments from mombers/shareholders Actuarial gainstilosses on the defined benefil obligation ement procadura or from the reinvestment of profit} Redemption of Ireasury ahares/holdings Other changes in equity unrelated to owners Profil/loss of the panod Correction of errors Payment of share in profit/dividend acipating interests popul suol esture	60 Tilli Statis 07 08 10 15 01 0 20 ್ ಶ್ರೀ . ആ 12 1 4 16 17 24 11 18 19 હદ ਨ ਈ 23 :	11/1/1/0/1/1/10 11:11 14.85 = 630 14,814,630 14,814,630 17	1,0 % . -33.895 -33.895 -33.895 ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------ :		, ಂ 10 200 0 0%0 0 0 ry	191.958 17.0 191.958	483.564 483.584		133,711 2.507.022 2.507.02			24-135 -35,170 -54 1 70	-4n 24th 475 -18.265,428 4 185 254 -661.649	1.186 451 4 144 754 4.985.294 4 165 754	3.814.554 95.133 3.814.568 1.186.497 -977 013	63,082 ా ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------- 1.00	3.877.64 3.877.84 1 187.49 95, 13 -677 01:
OTHER COMPREMENSIVE INCOME OF THE PREVIOUS PERIOD, NET OF TAX PENDIX TO THE STATEMENT OF CHANGES IN EQUITY (to be filled in by unde TRANSACTIONS WITH OWNERS IN THE PREVIOUS PERIOD RECOGNISED COMPREHENSIVE INCOME OR LOSS FOR THE PREVIOUS PERIOD (ADP RECTLY IN EQUITY (ADP 15 to 23) P 06 lo 14) 23 25)	26 26 27	0 mas that draw up financial staten	nts in accordance with the IFRS}	0		191,958	483.664		133,711 2,191.656 -315.365 -315.365			14 121 n (zi	AST 1 1771 AM 1 166 -15-641.78 4.985.29	11 000 06 AUDI AD -4.085.26	304,615 -1041 1.942 11.11		-881.68 305.61
Profit or loss arising from affective hedge of a not invostment in a foreign operation Balance on the last day of the current business year reporting period (ADP 31 them on the first day of the current business year (restated) (ACIP 28 to 30) Decrease in intilized (subscribed) capital (other than arising from the pro-bankruptcy Decrease in initial (subscribed) capital arising from the pro-bankruptcy settlemanl Tax on transactions recognised directly in equilty Sains or losses from subsequent measurement of financial assets at fair value Decrease in initial (subscribed) capital arising from the relnwestment of profit Paymente from mombers/shareholders Paymente from mombers/shareholders E L. NOTHERSORIES VEHICLE VEHICLE ASSOCIATION Shara In other comprehensive incomentoss of companies linked by William of increase in reserves srising from the pre-bankruptcy settlement procedure shessa elditalithi bod exist of fixed langible were notifualizaven in segmant Other distributions and payments to members/shareholders ugh other comprehensive income (available for sale) ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------ change rate differences from translation of foreign operations and or loss arising from effective cash flow hedge and the county of Actuarial gainsflosses on the defined benefit obligation alance on the first day of the current business year 1 i Redemption of treasury sharesholdings Other changes in equity unrelated to owners Changes in accounting policies Payment of share in profil dividend polion of arrors Collion of arrange of the count Carryforward per annual plane rolibloss of the period pollad mer	- i - डर रहे हुए हा श्रद と રૂક રૂક 39 30 39 33 34 37 43 38 বিএনপির প্রথম প্রকল্পিত হয়েছে। এই প্রকল্পিত করে আমাকে আন্তর্জাতিক করে আমাকে আমাকে আমাকে আমাকে আমাকে আমাকে আমাকে আমাকে আমাকে আমাকে আমাকে আমাকে আমাকে আমাকে আমাকে আমার করে আমাক 41 42 ব 45 ୍ତମ 47 તક 01 61 51	1.11.110 11.11.2017 11.08 11.11 100 14.814.630 14.814.530 14,814,630	-33.865 -33.895 -33.805 - ------- -------	11/200 ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------ ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------	10 0	17 116 483.664 - 3 -- 110 191,958 191.958 191.858	17-111 483,564		133.711 133.711 2.191.656 2, 105, 785			58.983 0.0 leets	-13.941.763 -15 (100) 13.040 1 1964 495 253425	1.186.497 1,100,421 368 177 246.773 -1.166 43	4 * 10 ( 17) -366.771 17.854 2.627 WA 4.10 PM #7	84.08 64.88	611526 (348) 22 9.229
Comprehensive Income or Loss for the current period (adp 32 PENDIX TO THE STATEMENT OF CHANGES IN EQUATY (to be filled in by und rransactions with overers in the current period recognised OTHER COMPREHENSIVE INCOME FOR THE CURRENT PERIOD, NET OF X (ADP 33 to 41) 52)	nos that di 62 83 રત	cial ntate uio finan	in accordanos with	The IFRSI					-85.87 € -85.871				13.04		77.43 -441.553		441.55

NOTES TO FINANCIAL STATEMENTS - TFI

Name of the issuer: INSTITUT IGH, d.d.

Reporting period: 1st January, 2025 to 31st March, 2025 Personal identification number (OIB): 79766124714

Notes to financial statements for quarterly periods include:

al primation it uness well be states in the states and fination and transe in re- econingsmannlated to be super in examples per increation is production is prices each and r published in the last annual financial statement is updated (items 15 to 15C IAS 34 - Interim financial reporting). There were no significant business events.

b) information on the acess to the pupose of underslanding information published in the notes to inancial statements drawn up for the sering reporting period.

Consoildated and non-conscitizated financial station of the period 1st March, 2025 are available at the Company's website https://www.igh.html.

riya statenting the sone accusion of the sering of the sering on the sering mark on the east and the assembly of the case were be accoming prices hare the association of the changes (item 16.A (a) IAS 34 - Interim financial reporting).

The financial statements have been prepared in according Standards adopted by the European Union (FRS) wirith are in force in the European Union.

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

There is no activity of a seasonal nature, with significantly increased business activity during the spring and autumn months.

sess with he gift coses association of e your a case, a the ease in allin he position of the ence. Preservations, which is a posterial in the 3,0 militr e one. Property with e of the corners pressible the signing - Assess and the trade estable the treating to the people of asses and with the position of the personal with the position of the prosi

Receively and libilities for here and received with the group are shown with the position of received into the group as of December 31st, 2024. are ot significat.

Reservations for court cases as of March 31, 2025. amount to 245 thousand euros and there were no changes compared to the previous year.

Revenues from the sale of services from related parties as of March 31st. 2025. are not significant.

The costs of employees in the current period anounted to EUR 2,6 million and there is no significant deviation compared to the previous year. In the TFI-POD form, transactions with related paties are shown in the provided positions under the group'.

f in the notes to quarterly periods inancial states to the information in respect of the following matters shall be disclosed:

t. website in and endersh, laga issues and it a partir number and, i quade, the intrade revolved. be houts yourses in prosesions to home in richines consessions of ministean

INSTITUTE IGH Zagreb, Janka Rakuše 1, dioničko društvo, Croatia, MBS: 03750272, OlB:79766124714

1. adopted accounting policies (only an indication of whether there has been a change from the previous period):

There were no changes in accounting policies compared to the previous reporting period.

t, te that included on the below to be belance the battle of the battle of enable and finn is any with has been production of the brown of the unities and peasons of the one company linked by virtue of participating interest shall be disclosed separately.

The company has obligations under issued bank guarantees for good performance in the amount of EUR 3,4 million.

1. the amount and nature of income of income or expenditure which are of exceptional size or incidence.

Significant frours of income and refer prinarily to income from the sale of eal estate in Dubruily and Karbac, inome from rent, and cancellation of reservation of reservation

1. annunts well by the underling and falling the eller the undersing cover by valuation cover by valuaties scarif unisibled by the undertaing, specify. In the becarly,

There are no obligations that mature after more than five years. 6. average number of employees during the financial year - 347

hile business year for agains a brunch he ada mort the saires and the annund the said and the arrowind the profit his profit in the protections on stream in the profit of be i, intege with he equilation the sost (salas in the interness in thil, interest on the propes sing by and the partines of the personal for blear one hot freed and the ancord the assets during the period, showing separately the total and the anount of taxes, contributions from salaries and contributions on salaries.

1. where a provision for deferred tax is recognised in the balance sheet, the the neriod

deferred tax balances at the end of the financial year, and the movement in those balances during the financial year. Deferred tax liability is recognized in the balance sheet based on the revoke of revaluation reserves.

namibal hald the amniunt of namital and connecess and the ﻣ ﺘﺎﺑﻊ ﺍﻟﻤﺴﺎﺣﺔ ﺍﻟﻤﺴﺘﻮﻯ ﺍﻟﻤﺴﺘﻮﻯ ﺍﻟﻤﺴﺘﻮﻯ ﺍﻟﻤﺴﺘﻮﻯ ﺍﻟﻤﺴﺘﻮﻯ ﺍﻟﻤﺴﺘﻮﻯ ﺍﻟﻤﺴﺘﻮﻯ ﺍﻟﻤﺴﺘﻮﻯ ﺍﻟﻤﺴﺘﻮﻯ ﺍﻟﻤﺴﺘﻮﻯ ﺍﻟﻤﺴﺘﻮﻯ ﺍﻟﻤﺴﺘﻮﻯ ﺍﻟﻤﺴﺘﻮﻯ ﺍﻟﻤﺴﺘﻮﻯ ﺍﻟﻤﺴﺘﻮﻯ ﺍﻟﻤﺴﺘﻮﻯ ﺍﻟﻤﺴﺘﻮﻯ ﺍﻟﻤﺴﺘﻮﻯ ﺍﻟﻤﺴﺘﻮﻯ ﺍﻟﻤﺴ noma huit an the undartabinata haball halds a norticimation talina sithar itaalf ar through a mornan nation in thair affirm of proch at the .