SIF Muntenia S.A.

Annual / Quarterly Financial Statement • Sep 12, 2025

Bucuresti, Str. S.V. Rahmaninov nr. 46-48, sector 2, cod 020199 Telefon: +40 213 873 210 Fax: +40 213 873 209 Email: sai@munteniainvest.ro www.longshield.ro

	STATEMENT OF ASSETS AND LIABILITIES OF LONGSHIELD INVESTMENT GROUP AS AT 31.08.2025
	PREPARED ACCORDING TO FSA REGULATIONS
		LEI	% of total assets
1	Intangible assets	0,00	0,00
2	Tangible assets	0,00	0,00
3	Real estate investments	0,00	0,00
4	Biological assets	0,00	0,00
5	Assets representing rights to use the underlying assets in a leasing contract	45.906,78	0,00
6	Financial Assets	2.847.234.784,82	95,97
6.1	Financial assets measured at amortized cost 78.386.905,68
6.1.1	Bonds 78.386.905,68
6.1.1.1	Corporate bonds 78.386.905,68
6.1.1.1.1	Listed corporate bonds	0,05
6.1.1.1.2	Listed and not traded corporate bonds in the last 30 days	0,00	0,00
6.1.1.1.3	Newly issued corporate bonds	0,00	0,00
6.1.1.1.4	Unlisted corporate bonds	77.065.738,75	2,60
6.2	Financial assets measured at fair value through pro˚t or loss	1.284.664.856,95	43,30
6.2.1	Shares	979.104.129,22	33,00
6.2.1.1	Listed shares 675.242.661,22		22,76
6.2.1.2	Listed and not traded shares in the last 30 days	4.051.027,00	0,14
6.2.1.3	Unlisted shares 299.810.441,00		10,11
6.2.2	Participation titles of UCITS and / or AIFs, of which: 214.183.525,72		7,22
6.2.2.1	listed shares 0,00
6.2.2.2	listed fund units	0,00	0,00
6.2.2.3	unlisted fund units	214.183.525,72	7,22
6.2.3	Bonds 58.245.721,01		1,96
6.2.3.1	Corporate bonds	58.245.721,01	1,96
6.2.3.1.1	Listed corporate bonds, of which: 58.245.721,01		1,96
6.2.3.1.1.1.	admitted or traded on a regulated market in a Member State	58.245.721,01	1,96
6.2.4	Payments for share capital increase for unlisted companies	0,00	0,00
6.2.5	Equity interests	33.131.481,00	1,12
			12.9.2025

Bucuresti, Str. S.V. Rahmaninov nr. 46-48, sector 2, cod 020199 Telefon: +40 213 873 210 Fax: +40 213 873 209 Email: sai@munteniainvest.ro www.longshield.ro

	STATEMENT OF ASSETS AND LIABILITIES OF LONGSHIELD INVESTMENT GROUP AS AT 31.08.2025
	PREPARED ACCORDING TO FSA REGULATIONS
		LEI	% of total assets
6.3	Financial assets measured at fair value through other comprehensive income	1.484.183.022,19	50,03
6.3.1	Shares	1.336.972.494,19	45,07
6.3.1.1	Listed shares	1.308.868.734,14	44,12
6.3.1.2	Listed and not traded shares in the last 30 days 11.707.843,85
6.3.1.3	Unlisted shares 16.395.916,20
6.3.2	Participation titles of UCITS and / or AIFs, of which: 147.210.528,00
6.3.2.1	listed shares 147.210.528,00
6.3.2.2	listed fund units 0,00
6.3.2.3	unlisted fund units	0,00	0,00
6.3.3	Payments for share capital increase for unlisted companies	0,00	0,00
7	Availabilities (cash and cash equivalent)	6.350.178,96	0,21
7.1	Current accounts	6.349.047,04	0,21
7.2	cash	1.291,34	0,00
7.3	balance at SSIF		0,00
7.4	amounts under settlement with the SSIF	0,00	0,00
7.5	amounts in transit	-159,42
7.6	Due fees	0,00 0,00
8	Bank deposits	97.181.268,03 3,28
9	Other assets, of which: 15.839.924,24		0,53
9.1	Dividends or other rights receivables 15.786.104,74		0,53
9.1.1	Shares distributed with cash contribution 0,00		0,00
9.1.2	Bonus shares	0,00	0,00
9.1.3	Dividends	15.786.104,74	0,53
9.1.4	Preference / allocation rights 0,00		0,00
9.1.5	Amounts to be received following the decrease of the share 0,00 capital		0,00
9.2	Other assets	53.819,50	0,00
9.2.1	Amounts to be received following the withdrawal from companies		0,00

Bucuresti, Str. S.V. Rahmaninov nr. 46-48, sector 2, cod 020199 Telefon: +40 213 873 210 Fax: +40 213 873 209 Email: sai@munteniainvest.ro www.longshield.ro

	STATEMENT OF ASSETS AND LIABILITIES OF LONGSHIELD INVESTMENT GROUP AS AT 31.08.2025
	PREPARED ACCORDING TO FSA REGULATIONS
		LEI	% of total assets
9.2.2	Amounts to be received following the transactions with participation titles	0,00	0,00
9.2.3	Other assets	53.819,50	0,00
10	Accruals and similar accounts	14.457,13	0,00
11	Total assets	2.966.666.519,96	100,00
12	Total liabilities	124.529.579,09
12.1	Financial liabilities measured at amortized cost 4.970.990,09
12.1.1	Commercial liabilities 4.340.037,52
12.1.2	Dividends due to shareholders 567.055,92
12.1.3	Other liabilities 63.896,65
12.2	Deferred income tax liabilities	#Error
12.3	Other liabilities	0,00	#Error
13	Provisions for risks and expenses 0,00		#Error
14	Deferred income	1.147,99	#Error
15	Equity, of which:	2.851.040.748,74	#Error
15.1	Share capital	76.110.584,50	#Error
15.2	Items similar to equity 757.576.343,00		#Error
15.3	Other equity items	709.825.929,87 #Error
15.4	Premiums	0,00 #Error
15.5	Revaluation reserve 0,00		#Error
15.6	Reserves	1.393.616.201,75 #Error
15.7	Own shares	-31.905.900,00 #Error
15.8	Other retained earnings, of which	505.774.276,56 #Error
15.8.1	Pro˚t (Loss) arising on the disposal of ˚nancial assets measured at fair value through other comprehensive income in accordance with IFRS 9	294.815.116,27	#Error
15.9	Other retained earnings ˚rst adopted IAS 29	-757.576.343,00	#Error
15.10	Pro˚t (loss) for the period	197.619.656,06	#Error
16	Net Asset	2.842.135.792,88	#Error
17	Number of issued shares	744.743.845,00	#Error

LONGSHIELD INVESTMENT GROUP S.A. - SOCIETATE AUTORIZATĂ PRIN AUTORIZAȚIA ASF NR. 151/09.07.2021, ÎNSCRISĂ ÎN REGISTRUL A.S.F. CU NR. PJR09FIAIR/400005/09.07.2021 - CAPITAL SOCIAL: 76.110.584,50 LEI, ÎNREGISTRATĂ LA ORC CU NR. J40/27499/1992, CUI: 3168735, CONT BANCAR: RO59BRDE450SV00951424500 B.R.D. - G.S.G. - COD LEI (LEGAL IDENTITY IDENTIFIER) 2549007DHG4WLBMAAO98 - ADMINISTRATĂ DE S.A.I. MUNTENIA INVEST S.A. - AUTORIZATĂ PRIN DECIZIA C.N.V.M. NR. D 6924/17.07.1997, REAUTORIZATĂ PRIN DECIZIA C.N.V.M. NR. 110/13.01.2004, ÎNSCRISĂ ÎN REGISTRUL A.S.F. CU NR. PJR05SAIR/400006/13.01.2004, AUTORIZATĂ CA ADMINISTRATOR DE FONDURI ALTERNATIVE (A.F.I.A.) CONFORM AUTORIZAȚIEI A.S.F. NR. 152/15.11.2024, ÎNSCRISĂ ÎN REGISTRUL A.S.F. CU NR. PJR08.AFIAA/400002/15.11.2024.

STATEMENT OF ASSETS AND LIABILITIES OF LONGSHIELD INVESTMENT GROUP AS AT 31.08.2025
PREPARED ACCORDING TO FSA REGULATIONS
		LEI	% of total assets
18	Net asset value per share	3,8163	#Error
19	Number of portfolio companies, of which:	90	#Error
19.1	Companies admitted to trading on an EU trading venue	39	#Error
19.2	Companies admitted to trading on a stock exchange in a third country	0	#Error
19.3	Companies not admitted to trading	49	#Error
19.4	Limited liability companies/SRL	2	#Error

Note

• · The accounting elements are taken from the balance of Longshield Investment Group prepared for 31.08.2025
• The report was certi˚ed by the depositary of Longshield Investment Group BRD-GSG Securities Department with no. 15182 from 11.09.2025.
• · The valuation rules for the ˚nancial securities from Longshield Investment Group's portfolio can be consulted at the link below https://www.longshield.ro/en/investments/net-asset-value/rules-applied-navcalculation/

Prepared by,

LONGSHIELD INVESTMENT GROUP prin administratorul sau S.A.I. Muntenia Invest S.A. Deputy General Director, SERGIU MIHAILOV Depositary Certi˚cation,

BRD - Groupe Societe Generale Director, CLAUDIA IONESCU

Certi˚ed, MARIA CIURLEA

ELENA LILIANA IANCU

Compliance Of˚cer, CLAUDIA JIANU

		Annex according to art. 38 para. (4) of Law no. 243 / 2019
	accordance with International Valuation Standards					Assets from the portfolio of Longshield Investment Group that were valued using valuation methods in
SRC	Company	No. of shares Valuation	date	Value / share	Stake value	Valuation method
48452990	FINAGROM IFN SA	27,000	31.07.2025	5,432.1196	146,667,228.0 0	Income approach - the discounted cash-˛ows method
434492	FIROS S.A BUCURESTI	2,815,576	31.10.2024			18.7484 52,787,424.00 Income approach - the discounted cash-˛ows method
47784028	ICPE ELECTRIC MOTORS S.R.L.	298,000	31.01.2025	102.7902		30,631,481.00 Asset approach - the adjusted net asset method
51100632	INEVITABLE VENTURES SRL	25,000	31.01.2025	100.0000		2,500,000.00 Asset approach - the adjusted net asset method
3682077	MATASARI HOLDING S.A.	16,064,609	31.10.2024	1.1794		18,947,047.00 Asset approach - the adjusted net asset method
622003	MINDO SA DOROHOI	32,595,770	31.10.2024	0.1243		4,051,027.00 Income approach - the discounted cash-˛ows method
23207014	VOLUTHEMA PROPERTY DEVELOPER SA	7,647,397	31.07.2025			10.6453 81,408,742.00 Income approach - the discounted cash-˛ows method

* The valuation of SIF MunteniaLongshield Investment Group's participation in the above-mentioned companies was performed using income approach - the discounted cash-˛ows method, except for ICPE ELECTRIC MOTORS S.R.L. INEVITABLE VENTURES SRL MATASARI HOLDING S.A. where the valuation was performed using asset approach - the adjusted net asset method.

The leverage level and the exposure value of Longshield Investment Group calculated according to the provisions of Regulation (EU) No. 231/2013

Method type	Leverage	Exposure value
Gross method	104,16 %	2.960.316.181,58
Commitment method	104,38 %	2.966.666.519,96

SAI Muntenia Invest SA does not use leverage in the investment policy adopted in the management of Longshield Investment Group.

Prepared by,

LONGSHIELD INVESTMENT GROUP prin administratorul sau S.A.I. Muntenia Invest S.A. Deputy General Director, SERGIU MIHAILOV

ELENA LILIANA IANCU

Compliance Of˚cer, CLAUDIA JIANU

Depositary Certi˚cation,

BRD - Groupe Societe Generale Director, CLAUDIA IONESCU

Certi˚ed, MARIA CIURLEA

12.9.2025