Span d.d.

Interim / Quarterly Report • Jul 31, 2024

Unaudited financial statements of Span Group and Span d.d.

JANUARY — JUNE 2024

Contents

1.	Management Interim Report – Management Report	3
1.1.	Statement by Marijan Pongrac, Member of the
	Management Board, Technology Director	4
1.2.	Corporate events	6
1.2.1.	Acquisition of 100% of shares in the affiliated company Bonsai d.o.o.
	and the intention to merge affiliated companies Bonsai d.o.o. and
	Ekobit d.o.o. to Span d.d.	6
1.2.2.	Reduction of the business share of company Span d.d.
	in the affiliated company Ekobit d.o.o. with purpose of alignment
	of share capital due to the introduction of the euro	6
1.2.3.	Decision on the utilization of profit and payment of dividend	7
1.2.4.	Signing of the merger agreements of affiliated companies Bonsai d.o.o
	and Ekobit d.o.o with Span d.d.	7
1.2.5.	General Assembly – invitation and decisions	7
1.2.6.	Release of own shares	8
1.2.7.	Corporate Governance Code – Compliance Questionnaire for 2023	8
1.3.	Awards and recognitions	9
1.3.1.	Microsoft Partner of the Year 2024 for Croatia	9
1.3.2.	Successful recertification of ISO 14001 and 50001 standards	10
1.3.3.	Hewlett Packard Enterprise Gold Partner and Aruba Gold Partner Status	10
1.3.4.	Span Cyber Security Arena conference	10
1.4.	DORA – not only financial entities are in focus	11
1.5.	People and community	12
1.5.1.	HR initiatives	12
1.5.1.1.	Development of leadership positions in Span	12
1.5.1.2.	Support and development of future experts	13
1.5.1.3.	LifeSpan: Span's commitment to health	13
1.5.2.	Sustainability in Span	14
1.5.2.1.	Sustainability Report for 2023	14
1.5.2.2.	World Good Deeds Day	16
	1.5.2.3. Span & Diversity	16
	1.5.2.4. Span & World Wildlife Fund for Nature	17
1.5.2.5.	Span & RTL pomaže djeci	17
2.	Financial indicators for the first half of 2024	19
2.1.	Operating Revenue, EBITDA and Net Profit of Span Group	20
2.2.	Operating Revenue, EBITDA and Net Profit of Span d.d.	20
2.3.	Key features of the period – first half of 2024	21
2.4.	Revenues by segments	23
2.5.	Revenues by geographic markets	25
2.6.	Balance Sheet	26
2.7.	Cash flow	28
3.	Financial Statements of Span Group and Span d.d.	29
4.	Notes	42
4.1.	Notes accompanying Financial Statements - (drawn up for
	quarterly reporting periods)	42
5.	Statement on responsibility for compiling
	a report in the observed period	43

1. Management Interim Report – Management Report

1.1. Statement by Marijan Pongrac, Member of the Management Board, Technology Director

t the beginning of each year numerous market forecasts are published, including for the IT sector. In its half-year review for 2024, Gartner presented revised expectations for IT investments and predicted an increase of 7.5 percent worldwide compared to 20231 . They believe the biggest investments will be related to artificial intelligence projects and the preparation of data centers for its implementation2 . In 2023 investments in IT decreased and the implementation of new projects slowed down, but 2024 added new momentum to

the entire IT sector, including Span.

Research available in Croatia shows a six percent increase in revenues in the IT sector in the first five months of this year, compared to the same period last year3 . Span Group follows the same trend and shows an increase in revenues of 40% in the first half of 2024, compared to the same period in 2023.

In the first half of 2024 we also acquired a 100% share in our affiliated company Bonsai and we merged the affiliated companies Bonsai and Ekobit with Span. For seven years Bonsai has been providing solutions and services to its users in the field of artificial intelligence, which is a crucial topic in the business and private world today. AI solutions are implemented more extensively in organizations, and the availability of generative artificial intelligence accelerated this process even further. Solutions based on artificial intelligence and ways in which they can improve business and processes are increasingly being considered in the business environment.

By merging Bonsai and Ekobit, our offer of software and AI solution development at Span has been brought together as well, which will enable us to respond to the needs of our users even more efficiently and comprehensively. It is precisely because of the development and

¹ https://www.gartner.com/en/newsroom/press-releases/2024-07-16-gartner-forecasts-worldwide-it-spending-to-grow-7-point-5-percent-in-2024 ² https://www.gartner.com/en/newsroom/press-releases/2024-07-16-gartner-forecasts-worldwide-it-spending-to-grow-7-point-5-percent-in-2024 ³ https://forbes.n1info.hr/financije/prosjecne-place-u-hrvatskim-softverskim-firmama-u-manjima-1500-vecima-2000-eura/

implementation of AI solutions of superb quality that we received the Microsoft Partner of the Year recognition for 2024, with the help of Microsoft's Cloud-oriented technology. It brings me joy that the knowledge and expertise of our experts have been recognized and that we can proudly say we received the sixth Microsoft Partner recognition for Croatia.

The number of events held in our Span Cyber Security Center is growing all the time and shows the increased public interest for cyber security. Recent cyber attacks on domestic public and private institutions and organizations certainly contributed to that, as well as regulatory requirements of the European Union – NIS2 Directive and DORA. One of the main goals we have set for ourselves when starting up the Span Cyber Security Center was to raise the awareness of cyber security, and I believe that our influence is evident. To gather those who already deal with or want to interact with the world of cyber security, on 4 November we are organizing the Span Cyber Security Arena conference in Zagreb. All those who deal with regulatory and legal affairs, experts in charge of technical implementation in that area, as well as management and members of the Management Boards will be able to gain valuable knowledge and useful practice in one place.

In addition to supporting our users, we continuously work on improving Span's management systems and seeking new opportunities for progress. This was also confirmed by our third Sustainability Report, which was published in June. One of the main ESG goals for 2024 that we have set for ourselves is to complete the verification of our suppliers and thus strengthen our cooperation, but also to reduce risks arising from these business relationships.

1.2. Corporate events

1.2.1. Acquisition of 100% of shares in the affiliated company Bonsai d.o.o. and the intention to merge affiliated companies Bonsai d.o.o. and Ekobit d.o.o. to Span d.d.

Span d.d. (hereinafter: Company or Span) signed a contract on purchase of 30% of business shares of the affiliated company Bonsai d.o.o. (hereinafter: Bonsai). Value of the transaction amounts to EUR 750,000.00. By purchasing the remaining 30% of Bonsai's shares, Span acquired full ownership and announced the intention to merge this company with Span. At the same time, the intention to merge with the affiliated company Ekobit d.o.o. (hereinafter: Ekobit), which has been fully owned by Span since the acquisition in 2022, was announced.

Integration of Bonsai and Ekobit into Span will unite Span's offer of software and AI solutions development. The goal is to achieve a unique presence on the market, within the same company and unique Span brand. Alongside cloud and cyber security, artificial intelligence is becoming one of Span's key strategic directions in the upcoming period.

AI solutions are implemented more intensively in organizations, and the availability of generative artificial intelligence has further accelerated the process. The ways solutions based on AI can enhance business operation and advance business processes are becoming more considered in the business environment.

"AI is no longer something that is merely discussed, AI is making an entrance into business operation. This merger will further strengthen Span's AI offer within the key segments of our operation, and I expect that the development of this part will generate significant profit in the years to come," said Nikola Dujmović, President of the Management Board of Span.

1.2.2. Reduction of the business share of company Span d.d. in the affiliated company Ekobit d.o.o. with purpose of alignment of share capital due to the introduction of the euro

On 13 April 2024 the Commercial Court in Zagreb published the registration of the share capital adjustment to EUR for Span's affiliated company Ekobit d.o.o., Koturaška cesta 47, 10000 Zagreb, OIB: 69609657776 (hereinafter: company Ekobit).

In order to adjust the share capital of Ekobit to EUR, and in accordance with the rules laid down in the Companies Act and the Law on the Introduction of the Euro as the Official Currency in the Republic of Croatia, the issuer's business share in the share capital of the company Ekobit was reduced. Until the adjustment of the share capital of the company Ekobit, the issuer had business shares in the company in the total amount of 82.13%, and after the adjustment, it has a business share in the amount of 82.12%.

1.2.3. Decision on the utilization of profit and payment of dividend

The meetings of the Management Board and the Supervisory Board of the Company took place on 30 April 2024, and it was then that the proposed Decision on the utilization of profit and payment of dividend in the amount of EUR 0.30 per share was adopted. The Management Board and the Supervisory Board proposed to the General Assembly that the dividend in the specified amount be paid to the shareholders of the Company who, on 24 June 2024, were registered as shareholders of the Company in the Central Depository and Clearing Company (record date). The claim for the dividend payment became due on 5 July 2024 (payment date). The date from which the share of the Company was traded without the right to the dividend payment was 21 June 2024 (ex date). The dividend was paid from the Company's profit realized in 2023, and partly from retained profit from the previous years.

1.2.4. Signing of the merger agreements of affiliated companies Bonsai d.o.o and Ekobit d.o.o with Span d.d.

Pursuant to Article 517 and Article 531 of the Companies Act, Notice on the signing of the merger agreements of affiliated companies Ekobit d.o.o. and Bonsai d.o.o. with Span d.d. was submitted. The merger agreements were concluded on 14 May 2024 between Span, a joint stock company for the design of information systems, with the registered office in Zagreb, Koturaška cesta 47, registered in the commercial register of the Commercial Court in Zagreb under number (MBS): 080192242, OIB: 19680551758 and companies:

• EKOBIT, a limited liability company for the development of software packages, trade and representation, with the registered office in Zagreb, Radnička cesta 80, registered in the commercial register of the Commercial Court in Zagreb under number (MBS): 080144042, OIB: 69609657776 and
• • BONSAI, a limited liability company for the design and implementation of intelligent information systems, with the registered office in Zagreb, Koturaška cesta 47, registered in the commercial register of the Commercial Court in Zagreb under number (MBS): 081100130, OIB: 81255473305.

Merger agreements signed on 14 May 2024 between Span d.d. and Ekobit d.o.o. and between Span d.d. and Bonsai d.o.o. were submitted to the commercial register of the Commercial Court in Zagreb4 on 15 May 2024, in accordance with the provision of Article 517 of the Companies Act.

1.2.5. General Assembly – invitation and decisions

Invitation to the General Assembly of Span d.d. was announced on 6 May 2024. Based on the provisions of the Capital Market Act and Rules of the Zagreb Stock Exchange, on 18 June 2024, starting at 11 o'clock at the address: Savska cesta 32, HOTO Tower, 1st floor, 10000 Zagreb, Croatia, a regular meeting of the General Assembly of the Company was held.

The Assembly was chaired by Gorana Grubišić, Attorney at Law, and 1,278,391 votes were represented, which makes 65.57% of the total number of Company shares with voting rights, or 65.22% of the share in the Company's share capital.

In accordance with the Agenda of the General Assembly of the Company, published in the Invitation to the General Assembly, the following decisions were made:

⁴ On the day of entry of the merger in the court register in which the acquiring company is registered, the merged companies will cease to exist. The acquiring company will become the general legal successor of the merged companies and will thereby enter into all legal relations of the merged company.

• 1. Election of Chairperson of the General Assembly;
• 1. Decision on the utilization of profit;
• 1. Decision on giving discharge to Members of the Management Board of the Company for the business year 2023;
• 1. Decision on giving discharge to Members of the Supervisory Board of the Company for the business year 2023;
• 1. Decision on approval of the Report on Remuneration of the Management Board and the Supervisory Board of the Company in the business year 2023;
• 1. Decision on the election of members of the Supervisory Board;
• 1. Decision on appointing the auditor of the Company and the Group for the business year 2024.

The full contents of the decisions are available on the following link: General Assembly of Span d.d.

1.2.6. Release of own shares

On 24 June, 2024, Span d.d. ("the Company") released 2,355 of own shares based on the Share Buy-Back Programme adopted on 2 December, 2022, at the Company's Management and Supervisory Board meeting. The Programme is carried out with the aim of disposition of the Shares within the framework of the Company's ESOP programme, rewarding members of the Management Board, employees of the Company and affiliated companies, potential acquisitions of companies, as well as for all other purposes that are foreseen and permitted as such by the applicable legislation of the Republic of Croatia, and in accordance with the decision of the General Assembly of the Company from 13 June, 2022.

Prior to the said disposal, Span d.d owned 10,465 of own shares, representing 0.5339% of the share capital. After the said disposal and as at the date of this notice, Span d.d owns a total of 8,110 of own shares, representing 0.4138 % of the share capital5 .

1.2.7. Corporate Governance Code – Compliance Questionnaire for 2023

The Company applies the Corporate Governance Code of the Zagreb Stock Exchange and the Croatian Financial Services Supervisory Agency (HANFA), which is publicly available online on the websites of the Zagreb Stock Exchange (www.zse.hr) and HANFA (www.hanfa.hr).

With the Statement of the application of the Corporate Governance Code6 , Span confirms that it operates in accordance with good corporate governance practices and, for the most part, according to the recommendations of the Code, publishes all information whose publication is provided for by positive regulations. In accordance with the Ordinance on corporate governance-related data that need to be submitted by issuers to the Croatian Financial Services Supervisory Agency, and on the form, deadlines and manner of their submission (Official Gazette 59/2020), Span submitted Compliance Questionnaire for issuers of shares to HANFA and published it on the websites of the Company and Zagreb Stock Exchange7 .

⁵The share capital of the Company amounts to EUR 3,920,000.00 and is divided into 1,960,000 shares with the nominal value of EUR 2.00, under the security code SPAN-R-A and the ISIN code HRSPANRA0007.

⁶Published in the Annual Report for the year 2023: https://www.span.eu/en/media/annual-report-for-2023\_pdf/

⁷ The Questionnaire on Management Practices was also submitted to HANFA in the deadline prescribed by relevant provisions of law.

1.3. Awards and recognitions

1.3.1. Microsoft Partner of the Year 2024 for Croatia

We were awarded Microsoft Partner of the Year 2024 for Croatia. This recognition by Microsoft honors the best partners for demonstrating excellence in their work and delivering solutions based on Microsoft technologies.

"The greatest strength of the people of Span is a great desire for knowledge, continuous skills development and following trends. I am happy we received the Microsoft Partner of the Year award in 2024 as well, which reflects our commitment to creating superior solutions based on Microsoft technologies for our users, with an emphasis on AI and security standards", said Mihaela Trbojević, Product Marketing Director of Span.

Microsoft's Partner of the Year is granted to companies that have successfully conceived, developed and implemented solutions using Microsoft technologies in the previous year, focusing on Microsoft Cloud solutions and innovations in the field of artificial intelligence. The award is bestowed in several categories, and winners are selected among more than 4.700 nominated companies from more than 100 countries worldwide. We have been awarded for providing superb services and solutions in Croatia.

"Congratulations to the winners and finalists of the 2024 Microsoft Partner of the Year Awards!" said Nicole Dezen, Chief Partner Officer and Corporate Vice President at Microsoft. "Numerous AI and Copilot announcements this year have fueled our partners' innovations, enabling revolutionary services and solutions for customers. I am inspired by the capabilities and creativity of our partner ecosystem, and this year's winners best demonstrate what can be achieved with artificial intelligence and the Microsoft Cloud."

1.3.2. Successful recertification of ISO 14001 and 50001 standards

In April, we conducted a certification audit for our IT service management system according to ISO 20000 standard for the fifth time. By doing this we once again demonstrated our commitment to a methodological and structured approach to our key business processes.

At the beginning of June, we successfully conducted re-certification audits for our environmental and energy management systems according to ISO 14001 and ISO 50001 standards. This way, Span continues to implement socially responsible practices that were present in our DNA even before the implementation of these systems.

1.3.3. Hewlett Packard Enterprise Gold Partner and Aruba Gold Partner Status

We are proud to have been recognized for many years as Hewlett Packard Enterprise Gold Partner. This 2024 recognition is new evidence of our dedication and excellence in the area of hybrid cloud with tested quality products and services of the IT infrastructure.

We are also holders of Aruba Gold Partner Status, and we take pride in the fact that we were awarded HPE Aruba Networking Champion of the Year 2023 at the HPE Intelligent Data conference.

Our expertise in the HPE hybrid cloud portfolio and completion of the training program and certification for HPE hybrid solutions are a confirmation of the high level of knowledge of our team, and this recognition further confirms our commitment to providing superior solutions and support to our users.

Our focus remains on providing quality service to users when implementing demanding and complex HPE solutions so that they could respond faster to unpredictable business requirements.

1.3.4. Span Cyber Security Arena conference

First Span Cyber Security Arena conference will be held on 4 November 2024 in The Westin Hotel in Zagreb.

The conference aims to become a central place for everyone who interacts with the world of cyber security. This is precisely why Span Cyber Security Arena will be equally useful for those who deal with regulatory and legal affairs, as well as for experts in charge of technical implementation in that area, and also for management and members of management boards.

1.4. DORA – not only financial entities are in focus

DORA is a regulation of the European Union that aims to strengthen the financial sector in relation to the challenges and risks brought by digital business. In other words, its goal is to strengthen the digital operational resilience of the financial sector. DORA therefore sets unique requirements for the security of network and information systems that support the business processes of financial entities.

The official text of the regulation was published at the end of 2022, and in January 2023 DORA entered into force. Currently, the deadline has been set until 17 January 2025 (the so-called grace period) when all entities that fall under the scope of DORA would have to comply with its requirements and obligations.

Due to the focus on financial entities, we also refer to DORA as sector-specific regulation. This means that DORA should impose obligations only on financial entities. Despite this fact, DORA sets a precedent by directly imposing obligations on entities outside the financial sector. Particularly, DORA is directly applicable to ICT service providers who provide their services to financial entities.

From application development, implementation and maintenance of various systems, all the way to SOC and similar services, ICT service

providers play an important role in the daily operations of financial entities. Guided by this fact, the legislator stipulated a whole series of obligations for the control and supervision of ICT service providers to financial entities. DORA even went so far as to define direct supervisory powers of financial regulators over ICT service providers to financial entities.

As for financial entities themselves, they must establish a comprehensive digital operational resilience testing program and ensure that appropriate tests of all ICT systems and applications supporting key or important functions are conducted at least once a year.

Digital operational resilience testing includes:

• vulnerability assessment and scanning,
• analysis of publicly available sources,
• assessment of network security,
• gap analysis,
• review of physical security,
• software solutions for scanning,
• source code review if feasible,
• scenario-based testing, compatibility and performance testing, and
• integral testing (end-to-end testing) and penetration testing.

If the competent authorities consider it necessary, the financial entity must also conduct advanced testing in the form of threat-led penetration testing, or in other words Read Team testing. As reference sources for this type of penetration testing, DORA lists the so-called TIBER-EU as a framework for ethical hacking and the G7 document called Fundamental Elements for Threat-Led Penetration Testing.

Finally, let's mention the next steps regarding DORA regulation. The EU is currently in the phase of defining regulatory technical standards that will further specify the mandatory measures from DORA, therefore it is necessary to start actively thinking and planning the implementation of the measures requested by DORA. This particularly applies to ICT service providers whose users fall within the financial sector since the ICT service providers themselves will be under the supervision of regulators from the financial industry.

1.5. People and community

1.5.1. HR initiatives

1.5.1.1. Development of leadership positions in Span

In the first half of 2024, Span started a project of development of leadership positions within the organization with the aim of strengthening and empowering the management. The first step

was to conduct a detailed analysis of job descriptions, which included creating clear responsibilities and expectations for each position. This analysis made it possible to precisely define the necessary competencies for each role within management. This framework will serve as a guideline for the identification and development of key competencies at the organizational level and will help align employees' job skills with Span's strategic goals. The plan is to connect and digitize this framework through the future SAP Performance & Goals system, which will enable easier monitoring and evaluation of work performance.

Internal initiatives aimed at developing managerial skills include the Span Management Academy (SMA) for the third year in a row. At the end of this quarter, 15 new team leaders and managers officially completed the development program and further strengthened their leadership skills.

All these activities are aimed at strengthening Span's management and are of key importance for the long-term success and sustainability of the organization. Strong and competent management is a prerequisite for a stable and profitable organization, capable of adapting and growing in dynamic business environments.

1.5.1.2. Support and development of future experts

We actively promoted our business activities and youth employment opportunities in the past period. We participated in various events, including FER Job Fair, Career Day at Algebra University, Career Day at Faculty of Transport and Traffic Sciences and TVZ Career Day.

For the first time, we decided to visit high schools in order to present career opportunities to students who may not continue their education at a university. That's

how we introduced working in the Service Desk and Span IT Gym professional practice to the graduates of Ban Josip Jelačić High School. Span IT Gym is a one-month program covering practical training in the basics of IT and the development and mentoring of young talents. In this

quarter, as many as two professional practices were successfully completed, and several participants were successfully employed after completing the program.

1.5.1.3. LifeSpan: Span's commitment to health

Span continued to invest in the health and well-being of its employees through a series of LifeSpan initiatives. The most significant initiative is certainly Fit Happens, which gathered more than 250 employees at the Span Group level for another year.

In addition to the traditional step counting, this year we were also tracking kilometers for the first time in two new categories – running and cycling. In order to further encourage employees to cycle to work and prepare them for the upcoming

All these activities enabled us to be successfully recertified as a "Health-Friendly Company" by the Croatian Institute of Public Health and once again confirmed our commitment to the health and well-being of our employees.

challenge, a small bicycle service was also organized.

Alongside Fit Happens, we also ran in the largest business race B2Run, which also took place for the first time this year in Osijek and Rijeka.

We talked about health with experts from MultiSport, who provided valuable health insights to employees as part of an educational lecture.

1.5.2. Sustainability in Span 1.5.2.1. Sustainability Report for 2023

Our Sustainability Report for 2023, named "Charting a course for a resilient future", this year was based on the results of previous materiality assessments, the due diligence of potential and actual adverse impacts on people and the environment initiated in 2022, and the analysis of trends and practices in 2023. We also mapped potential impacts, risks and sustainability opportunities along Span's value chain.

As a new development, this year we made a breakthrough in understanding how our business intertwines with the interests and views of different stakeholder groups. This was done through a total of ten thematic, in-depth interviews and focus groups covering all potential material topics of Span, changes in the regulatory framework and business trends.

Conversations with representatives of the Supervisory Board, investors, the Zagreb Stock Exchange, banks we cooperate with, customers, business partners, suppliers, and employees allowed us to gather different information. We obtained diverse perspectives on our business practices, trends in sustainability reporting, stakeholder expectations and needs, and sustainability aspects that are their focus. We were provided with insights into their views on our management, recognized potential adverse impacts, as well as our contribution to sustainability, and the risks and business opportunities related to sustainable business.

Global sustainability risks are our opportunity

"Today, it is impossible to imagine a world without digital technologies. We rely on them daily and we saw a significant increase in the need for information and communication solutions during the pandemic. The IT industry grew globally, as

did Span, until it reached saturation in 2023. A more careful investment of customers in IT projects, along with various other factors, led to a slowdown in the industry growth. But 2023 also brought opportunities for innovation and further development in cybersecurity and artificial intelligence.

At the same time, both phenomena have become global sustainability issues – threats as well as opportunities. In their development, we see an opportunity not only to ensure our business and social relevance, but also to be a leader in their development on the Croatian market and a reliable provider of value in all markets where we operate," said Nikola Dujmović, President of the Management Board.

In-depth interviews with informed stakeholders confirmed that Span has correctly identified material topics included in our sustainability reports in recent years. Stakeholders highlighted governance issues such as transparent, ethical and responsible corporate governance, data protection and privacy, and providing quality IT solutions for customers, and in particular the increasing importance of our services in the cybersecurity segment as the most relevant business-wise.

Alongside governance criteria they deem the most important for Span, stakeholders emphasized the importance of social issues such as raising awareness and Span's contribution to developing competencies and elevating public discourse on cybersecurity, matters relating to Span's organizational culture, employee satisfaction, quality of customer relations, diversity in managing bodies, and employee attraction and development. Stakeholders we talked to acknowledged the importance of environmental protection and combating climate change, but they did not consider environmental issues as critical to Span's operations.

Span celebrated that day with weekly activities of doing good deeds by collecting textile products as part of the well-known initiative "Krpe na hrpe" (loosely translated as "Loads of clothes"), and by collecting toys for those who need them the most. Our initiative was also rounded off with a workshop on textile recycling. The workshop was led by a team of employees of the social collective Humana Nova, who introduced us to the topics of collecting, reusing and recycling textiles. In addition to the educational part, we were also creative – with expert guidance, we were able to create new items from existing textile.

1.5.2.2. World Good Deeds Day

The World Good Deeds Day, known as "Good Deeds Day", is a global initiative dedicated to promoting good deeds and positively influencing the society. On this day, people around the world are encouraged to engage in various activities that help others, improve communities and contribute to the common good.

World Good Deeds Day is an opportunity for us to make the world a better place together. No matter the importance or extent of the deed, every contribution is important and can make a significant difference. By joining this global initiative, individuals and communities can show that the power of kindness is universal and that every good deed, no matter how small, has the potential to change the world for the better.

1.5.2.3. Span & Diversity

In the past year, we dedicated a lot of attention to the topics of diversity and inclusion. The topics of diversity and inclusion in the workplace are important for creating a positive and inclusive organizational culture. In order to find out what these topics actually mean in Span and how the people of Span perceive them, we conducted the Span Voices questionnaire at the end of last year. The responses helped us define these topics at Span and write our first Policy on Diversity and Inclusion. All of the above was summed up by signing the Croatian Diversity Charter.

1.5.2.4. Span & World Wildlife Fund for Nature

In cooperation with WWF, we removed the abandoned fishing gear from the seabed in the Telašćica Nature Park. Seabed waste is fatal for as many as 66% of marine mammals, 50% of sea birds and 90% of fish.

By cleaning the seabed in the area of the Telašćica Nature Park, which is located in a no-fishing zone, we are reinforcing our commitment to the 14th UN Sustainable Development Goal, which focuses on conserving the underwater life.

This is why removing abandoned fishing gear from the sea is crucial for preserving marine biodiversity, maintaining fisheries productivity, mitigating environmental hazards and fulfilling conservation obligations. There is still work to do at the bottom of the Adriatic Sea, and we are proud to have contributed to the preser-

vation of the biodiversity of the sea so it remains healthy and resilient for as long as possible – not just for the present, but also for future generations.

We continuously work on improving sustainability by supporting the community, protecting the environment, caring for our employees and delivering quality services and solutions to our customers without compromising the planet we live on. In the IT services and solutions we offer to customers in our daily operations, and in our relationships with employees and communities, we have identified areas where we contribute to the UN's 2030 Agenda for Sustainable Development. Our most important Sustainable Development Goals in the environmental segment relate to the circular economy, energy efficiency of products and services, energy and greenhouse gas emissions.

1.5.2.5. Span & RTL pomaže djeci

We have once again joined forces with the "RTL pomaže djeci" association and we have secured funding for an innovative learning system called Play Attention for the Children's Creative Center DOKKICA from Osijek. It is a computer-assisted biofeedback system used in therapy to improve skills needed for school tasks in children older than seven years. This technology

allows young patients to advance in the development of skills important for personal and school success through cognitive exercises and feedback technology.

"The system is very simple, non-invasive, interesting and stimulating. It is based on edufeedback technology, and what is important to us is the fact that we can implement it in therapies for children diagnosed with ADHD, autism,

dyslexia, dysgraphia, or some forms of brain trauma," emphasized Marija Matulin Jelić from the Children's Creative Center DOKKICA, the project manager of Play Attention.

DOKKICA was founded in 2009 as a project of the Youth Work Association "Breza", and since then it has been providing non-institutional social and educational support for primary school-age children. DOKKICA's mission is to su-

pport children in growing up and developing their potential in various programs and activities, and we supported them on this journey with this valuable donation to the Children's Creative Center.

"Our long-term cooperation with the humanitarian association "RTL pomaže djeci" has already turned into a long-standing tradition that we at Span want to continue nurturing. We are glad to have participated in the project of the Children's Creative Center DOKKICA from Osijek and provided their users with a new form of therapy. Since we're an IT company, we are especially pleased with the fact that in this project, innovative technological solutions are used to support children in their upbringing, growth, and development of all their potential", said Anita Bastašić, corporate social responsibility specialist at Span.

2. Financial indicators for the first half of 2024

2.1. Operating Revenue, EBITDA and Net Profit of Span Group

EUR 88.2 mil. +40 % OPERATING REVENUE YoY

EUR 6.2 mil. +21 %

EBITDA YoY before one-off items

EUR 5.8 mil. +33 % EBITDA YoY after one-off items

EUR 2.3 mil. +7 % NET PROFIT YoY after one-off items

2.2. Operating Revenue, EBITDA and Net Profit of Span d.d.

EUR 48.1 mil. +6 %

OPERATING REVENUE YoY

EUR 2.7 mil. -13 % EBITDA YoY

before one-off items

EUR 2.4 mil. -14 % EBITDA YoY after one-off items

EUR 2.5 mil. +91 % NET PROFIT YoY after one-off items

2.3. Key features of the period – first half of 2024

Profit and Loss Account – shortened

Span Group
In thousands of EUR	H1 2023	H1 2024	∆%	Q2 2023	Q2 2024	∆%
Total revenue	63,909	89,514	40%	38,148	54,745	44%
Operating revenue	62,911	88,170	40%	37,286	54,195	45%
Other revenue	998	1,344	35%	862	550	-36%
Total costs	59,507	83,671	41%	36,713	51,358	40%
Costs of goods and services sold	39,256	61,220	56%	25,979	39,837	53%
Personnel expenses	15,293	17,541	15%	7,924	8,892	12%
Other business expenses	4,958	4,910	-1%	2,810	2,630	-6%
EBITDA before one-off items	5,099	6,180	21%	1,845	3,448	87%
EBITDA one-off items*	698	336	-52%	411	62	-85%
EBITDA after one-off items	4,402	5,844	33%	1,435	3,387	136%
Depreciation and amortization	1,532	1,873	22%	790	933	18%
EBIT	2,870	3,970	38%	645	2,454	281%
Net financial result	(125)	(522)	-317%	(18)	(496)	-2613%
Profit/loss before taxation before one-off items	3,442	3,784	10%	1,037	2,020	95%
Profit/loss before taxation after one-off items	2,744	3,448	26%	626	1,958	213%
Corporate tax	552	1,107	100%	291	902	210%
Profit/loss after taxation before one-off items	2,890	2,677	-7%	746	1,118	50%
Profit/loss after taxation after one-off items	2,192	2,341	7%	335	1,056	215%

Span d.d.
In thousands of EUR	H1 2023	H1 2024	∆%	Q2 2023	Q2 2024	∆%
Total revenue	45,790	48,425	6%	25,470	29,098	14%
Operating revenue	45,346	48,114	6%	25,124	28,981	15%
Other revenue	444	311	-30%	346	117	-66%
Total costs	42,947	45,990	7%	25,247	28,091	11%
Costs of goods and services sold	28,249	29,561	5%	17,414	19,673	13%
Personnel expenses	11,292	12,840	14%	5,895	6,592	12%
Other business expenses	3,406	3,588	5%	1,938	1,825	-6%
EBITDA before one-off items	3,120	2,716	-13%	429	1,068	149%
EBITDA one-off items	278	281	1%	207	62	-70%
EBITDA after one-off items	2,843	2,436	-14%	223	1,007	352%
Depreciation and amortization	1,119	1,282	15%	579	648	12%
EBIT	1,723	1,153	-33%	(356)	359	201%
Net financial result	(118)	1,608	1464%	11	1,589	14953%
Profit/loss before taxation before one-off items	1,883	3,042	62%	(139)	2,010	1548%
Profit/loss before taxation after one-off items	1,605	2,761	72%	(345)	1,948	664%
Corporate tax	316	300	-5%	110	161	47%
Profit/loss after taxation before one-off items	1,567	2,742	75%	(249)	1,848	844%
Profit/loss after taxation after one-off items	1,289	2,461	91%	(455)	1,787	493%

* the value adjustment of receivables from Studio Moderna reported in the financial statement for the third quarter of 2023 related to the period from January to September 2023, therefore H1 2023 has been corrected accordingly

REVENUES

Total consolidated revenues increased by EUR 25,606 thousand, or 40% compared to the first half-year of the last year. Operating revenues increased by EUR 25,260 thousand in the same observed period. The highest growth was recorded by the Software Asset Management and Licensing segment, mostly from Span Ukraine (Microsoft has discontinued the use of products and services free of charge for most of its users), and partly from GT Tarkvara which was acquired in Q2 2023. Furthermore, revenues in the IT services with high added value segment also grew by EUR 2,647 thousand.

In the same period, Span d.d. recorded an increase of revenues by EUR 2,635 thousand, or 6%. The growth came from the operating revenues, which increased by EUR 2,768 thousand. Revenues growth is the result of growth in all business segments.

OPERATING EXPENSES

Total consolidated operating expenses increased by EUR 24,164 thousand, or 41% compared to the first half-year of 2023. The greatest generator of the growth of expenses was the cost of the goods and services sold, following the revenue growth.

The increase of personnel expenses was EUR 2,248 thousand, and resulted mostly from the higher number of employees in the segment of IT services with high added value. The average number of employees in the Group in H1 2024 was 862, whereas in the prior year, the average number of employees in the Group was 809.

Total expenses of Span d.d. increased by EUR 3,042 thousand compared to the same period last year. Costs of goods and services sold increased by EUR 1,312 thousand, while personnel expenses increased by EUR 1,548 thousand.

The average number of employees in the Company in the observed period is 643, which is an increase compared to the previous year when the average number of employees in the Company was 611. Most of the new employees were employed in segments of services with high added value.

EBITDA

EBITDA of the Group before one-off items increased by EUR 1,080 thousand, or 21% and amounts to EUR 6,180 thousand. One-off items of EBITDA of the Group were EUR 336 thousand and related to: 1) expenses of taxes and surcharges on capital gains, resulting from the Share Allocation Plan awarding employees of Ekobit, defined in the purchase and sale agreement; 2) reserved expenses in the ESOP program for the allocation of shares to employees; 3) severance payment to a former member of the Management Board; 4) additional expenses resulting from the acquisition of GT Tarkvara. According to the requirements announced in the Prospectus, Span will award every employee who keeps in their ownership one or more ESOP packages in a period of three years, with 25% shares in relation to the number of shares the respective employee holds within the ESOP package. 5% of the total number of shares will be awarded after the expiry of the first year from the date of the public announcement, and 10% of shares will be awarded upon the expiry of the second and third years each.

EBITDA after one-off items in the first half of 2024 recorded an increase of 33% compared to the same period of the prior year.

Span d.d. recorded a drop of EBITDA before one-off items of EUR 404 thousand, or 13%, amounting to EUR 2,716 thousand. In the observed period, Span d.d. recorded a drop of EBITDA after one-off items by EUR 407 thousand, to EUR 2,436 thousand, a drop of 14%. The slowdown in the drop of EBITDA is the result of revenue growth in the segment of services with high added value, which is visible in the Q2 results.

The Group's net financial result is mostly the result of foreign exchange losses realized in Span Ukraine.

NET PROFIT

Profit after taxation before one-off items of the Group decreased by EUR 213 thousand, to EUR 2,677 thousand. In the observed period, profit after taxation after one-off items of the Group increased by EUR 149 thousand, to EUR 2,341 thousand. One-off items decreased by EUR 362 thousand compared to the same period last year.

Cost of the profit tax reflected the release of the deferred tax assets for both obtained tax reliefs based on the Investment Promotion Act. Due to the reorganization changes as a result of the merger, Ekobit had an obligation to return the used tax support for the 2021 - 2023 period. In addition, the payment of dividend of GT Tarkvara according to the tax laws of Estonia created a tax liability.

Span d.d. recorded a growth of profit after taxation before one-off items by EUR 1,175 thousand, to EUR 2,742 thousand. Span d.d. recorded a growth of profit after taxation after one-off items by EUR 1,172 thousand, to EUR 2,461 thousand. A dividend was paid to Span d.d. from affiliated companies in the total amount of EUR 1,650 thousand.

The Management Board of Span d.d. continuously considers all risks related to war between Russia and Ukraine and estimates that these risks do not threaten the Group's financial results.

2.4. Revenues by segments

The Span Group generates revenues in the following segments:

• 1. Software Asset Management and Licensing
• 1. Infrastructure Services, Cloud & Cyber Security
• 1. Service Center Management and Technical Support
• 1. Software and Business Solutions Development

Data on revenues by segments of the operation of the Group and Span d.d. for the first half of 2023 and 2024 is presented below.

Span Group
In thousands of EUR	H1 2023	H1 2024	∆ %	Q2 2023	Q2 2024	∆ %
Total operating revenue	62,911	88,170	40 %	37,285	54,195	45 %
Software Asset Management and Licensing	41,674	64,287	54 %	27,111	41,964	55 %
Infrastructure Services, Cloud & Cyber Security /*	6,852	7,449	9 %	3,103	4,226	36 %
Service Center Management and Technical Support *	8,569	8,914	4 %	4,005	4,213	5 %
Software and Business Solutions Development **	5,815	7,521	29 %	3,066	3,793	24 %

Revenues by segments

Span d.d.
In thousands of EUR	H1 2023	H1 2024	∆ %	Q2 2023	Q2 2024	∆ %
Total operating revenue	45,346	48,114	6 %	25,124	28,981	15 %
Software Asset Management and Licensing	28,120	28,339	1 %	16,976	18,714	10 %
Infrastructure Services, Cloud & Cyber Security /*	6,104	6,683	9 %	2,641	3,812	44 %
Service Center Management and Technical Support *	8,154	8,646	6 %	3,807	4,214	11 %
Software and Business Solutions Development **	2,968	4,446	50 %	1,700	2,240	32 %

* the Security Operations Center has become an integral part of the Cyber Security segment therefore we adjusted the revenue in 2023 to make it comparable to the current period

** by consolidating the software development and AI solutions offer, we started to track a part of the projects from 2024 within the segment Software and Business Solutions Development, which is why we adjusted the revenues in 2023

1. Software Asset Management and Licensing recorded a growth of revenues by 54%. The Group recorded higher revenues compared to the first half of 2023, mostly as a result of revenues growth in Span Ukraine. The share of revenues in the total operating revenues was 73%.

2. Infrastructure Services, Cloud & Cyber Security in the observed period grow by 9% compared to the same period last year, while the Q2 grows by 36%, which shows that Cloud and Cyber Security are still a key strategic focus.

- 24 -

3. Service Center Management and Technical Support contributed to a continuous growth of revenues through the supervision and management of the IT surroundings services, with the increase of revenues of this segment amounting to 4% compared to the same period last year.

4. Software and Business Solutions Development recorded a 29% increase in the observed period. The growth of this segment resulted from the development of specific business solutions for individual key customers, such as CRM, automation and robotization of their operating processes. It will be further strengthened by the integration of Bonsai and Ekobit into Span, which will combine our offer of software and AI solutions development. The goal is to have a unique appearance on the market, within the same company and the unique Span brand.

2.5. Revenues by geographic markets

Revenues by geography show the geographic market where the goods and services were invoiced. The share of revenues the Group makes in international markets was 82% of total revenues.

The significant growth of revenues was recorded by the Ukrainian market (EUR 13,784 thousand). Growth was further strengthened in the Slovenian market. The Estonian market also recorded growth, but primarily due to the fact that in the first half of 2023, we were showing revenues from the Q2.

In the observed period, 30% of the Span d.d.'s revenues refers to the Croatian market. The UK market achieved the highest growth in the first half-year.

Revenues by geographic markets

Ukraine 19 %

Span d.d. H1 2023 Span d.d. H1 2024

Span Group H1 2024

2.6. Balance Sheet

ASSETS

	Span d.d.
In thousands of EUR	31.12.2023	30.06.2024	31.12.2023	30.06.2024
ASSETS	72,261	74,031	52,984	60,204
Fixed assets	23,927	24,337	28,870	30,824
Deferred tax assets	1,724	1,109	1,145	844
Current assets	28,314	26,210	14,456	17,098
Cash and cash equivalents	14,379	16,429	4,832	7,566
Prepaid expenses and accrued income	3,916	5,947	3,681	3,872
LIABILITIES	72,261	74,031	52,984	60,204
Equity and reserves	30,423	31,366	27,082	28,979
Long-term liabilities	3,509	2,453	2,995	1,919
Current liabilities	32,014	35,448	18,093	26,286
Accrued expenses and deferred revenue	6,315	4,765	4,813	3,019

The total value of the assets of the Group was higher by EUR 1,770 thousand. The increase in total assets is primarily the result of an increase in cash and cash equivalents from business activities.

Span Group				Span d.d.
In thousands of EUR	H1 2023	H1 2024	Q2 2023	Q2 2024	H1 2023	H1 2024	Q2 2023	Q2 2024
Computer equipment and other equipment	530	271	392	165	319	251	204	153
Right-of-use assets	518	1,795	451	1,643	417	1,780	353	1,628
Other intangible assets	401	14	286	12	398	-	283	-
Intangible assets in preparation	505	262	386	138	669	379	425	173
Investment in assets total	1,954	2,342	1,515	1,958	1,803	2,410	1,265	1,954

INVESTMENT IN ASSETS

Investments in tangible assets of Span Group in most part related to expenditure for the procurement and replacement of worn out computers and other equipment required for the work of employees. Right-of-use assets related to business premises and leased vehicles. The growth shown in the Q2 related to a new contract concluded for the lease of existing business premises. Investment in intangible assets in preparation related to internally generated intangible assets that resulted from the continuation of development of software available for further sale/use.

DEFERRED TAX ASSETS

Deferred tax assets represent income tax return amounts which are recoverable based on future taxable profit deductions. Deferred tax assets are recognized up to the amount of taxable earnings which are likely to be achieved. When determining future taxable profit and amounts of tax revenues likely to be achieved in the future, the Group makes judgements and assessments based on taxable profit from previous years and expectations of future revenues which it considers reasonable in the existing circumstances. The Group made an assessment of the usability of tax relief for the estimate of the amount of deferred tax assets, based on received support from the Ministry of Economy, Entrepreneurship and Crafts.

The aforementioned support enables Span d.d. relief from payment of corporate income tax from 2015 to 2025, for 50% of the amount of the tax basis, up to the maximum threshold in the amount of the total investment according to the Investment Promotion Act (ZOPI).

In December 2021, Span d.d. and Bonsai d.o.o. applied for the use of a new round of supports named Investment in expansion of the research and development capacity and capacity for delivery of IT solutions project. They got a positive decision on 25 February 2022 based on which the Company accomplished additional 50% relief of the tax rate. Thus, Span ensured that by 2025, i.e. by the utilization of the maximum threshold of the investment, it has a corporate income tax rate of 0%.

Due to the reorganization changes as a result of the merger, Ekobit had an obligation to return the used tax support for the 2021 - 2023 period. The remainder of the unused deferred tax assets was reduced accordingly.

EQUITY AND RESERVES

The total equity and reserves of the Group increased by EUR 943 thousand. The increase results from the profit of the current period.

LONG-TERM AND SHORT-TERM LIABILITIES

Total long-term liabilities decreased by EUR 1,056 thousand. Long-term liabilities reduced due to the transfer to current liabilities related to the acquisition of GT Tarkvara.

Current Assets, Current Liabilities and Working Capital	Span Group		Span d.d.
In thousands of EUR	31.12.2023	30.06.2024	31.12.2023	30.06.2024
Current assets	46,609	48,586	22,969	28,536
Current liabilities	38,329	40,212	22,906	29,306
Working capital	8,280	8,373	63	(770)
Current liquidity ratio	1.22	1.21	1.00	0.97

Current liabilities increased primarily as a result of liabilities to banks.

The currrent liquidity ratio points to the ability of the Group to settle its current liabilities.

Net debt	Span Group		Span d.d.
In thousands of EUR	31.12.2023	30.06.2024	31.12.2023	30.06.2024
Short-term and long-term loans	2,107	4,111	2,107	4,111
Cash and cash equivalents	14,379	16,429	4,832	7,566
Net debt	(12,273)	(12,318)	(2,725)	(3,455)
Total equity	30,423	31,366	27,082	28,979
Net debt and total equity ratio	-	-	-	-

The Group does not have a net debt, while the Company uses short-term loan frameworks to bridge liquidity.

2.7. Cash flow

The Group achieved positive cash flows from operating activities.

Negative cash flow from investment activities was a result of the acquisition of GT Tarkvara and acquisition of the remainder of the Bonsai's business shares.

The positive cash flow from financial activities mostly results from the withdrawal of shortterm loan frameworks in order to bridge liquidity.

	Span Group				Span d.d.
In thousands of EUR	H1 2023	H1 2024	Q2 2023	Q2 2024	H1 2023	H1 2024	Q2 2023	Q2 2024
Net cash from operating activities	5,475	3,661	3,017	325	6,042	3,215	3,305	5,894
Net cash used in investment activities	-5,762	-2,467	2,014	-1,020	-9,160	-1,109	-1,283	539
Net cash used in financial activities	-3,684	855	-287	-1,143	-3,711	628	-225	-2,777
Net increase / decrease in cash and cash equivalents	-3,971	2,049	4,744	-1,838	-6,829	2,734	1,797	3,656

3. Financial Statements of Span Group and Span d.d.

Span Group

STATEMENT OF PROFIT OR LOSS

for the period 01.01.2024 to 30.06.2024 in EUR

Submitter: Span d.d.
Item	AOP code	Same period of the previous year Cumulative Quarter		Current period Cumulative	Quarter
1	2	3	4	5	6
I OPERATING INCOME (ADP 002 to 006)	001	63,908,514	38,147,635	89,514,481	54,745,003
1 Income from sales with undertakings within the group	002	0	0	0	0
2 Income from sales (outside group)	003	62,910,862	37,286,048	88,170,465	54,194,989
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	997,652	861,587	1,344,016	550,014
II OPERATING EXPENSES (ADP 08+009+013+017+018+019+022+029)	007	61,038,834	37,502,907	85,544,082	52,287,758
1 Changes in inventories of work in progress and finished goods	008	0	0	0	0
2 Material costs (ADP 010 to 012)	009	42,535,590	27,778,909	64,512,458	41,465,098
a) Costs of raw materials and consumables	010	294,223	151,333	321,324	150,486
b) Costs of goods sold	011	37,416,988	24,863,354	59,100,458	38,567,738
c) Other external costs	012	4,824,379	2,764,222	5,090,676	2,746,874
3 Staff costs (ADP 014 to 016)	013	15,292,881	7,923,887	17,540,706	8,891,573
a) Net salaries and wages	014	9,717,757	5,092,978	11,364,862	5,819,082
b) Tax and contributions from salary costs	015	4,242,559	2,157,668	4,619,729	2,288,881
c) Contributions on salaries	016	1,332,565	673,241	1,556,115	783,610
4 Depreciation	017	1,532,057	789,900	1,873,193	932,748
5 Other costs	018	1,347,241	810,479	1,617,725	1,001,577
6 Value adjustments (ADP 020+021)	019	331,065	199,732	0	-3,238
a) fixed assets other than financial assets	020	0	0	0	0
b) current assets other than financial assets	021	331,065	199,732	0	-3,238
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	0
8 Other operating expenses	029	0	0	0	0
III FINANCIAL INCOME (ADP 031 to 040)	030	248,303	160,647	468,897	238,597
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	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	64,560	38,548	144,005	85,937
8 Exchange rate differences and other financial income	038	183,743	122,099	324,892	152,660
9 Unrealised gains (income) from financial assets	039	0	0	0	0
10 Other financial income	040	0	0	0	0
IV FINANCIAL EXPENSES (ADP 042 to 048)	041	370,937	178,640	990,946	737,560
1 Interest expenses and similar expenses with undertakings within the group	042	0	0	0	0
2 Exchange rate differences and other expenses from operations with undertakings within the group	043	0	0	0	0
3 Interest expenses and similar expenses	044	57,793	30,304	149,336	102,848
4 Exchange rate differences and other expenses	045	313,144	148,336	841,610	634,712
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	0	0	0	0
V 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	0	0	0
VII SHARE IN LOSS OF COMPANIES LINKED BY VIRTUE OF PARTICIPATING INTEREST	051	2,784	294	432	317
VIII SHARE IN LOSS OF JOINT VENTURES	052	0	0	0	0
IX TOTAL INCOME (ADP 001+030+049 +050)	053	64,156,817	38,308,282	89,983,378	54,983,600
X TOTAL EXPENDITURE (ADP 007+041+051 + 052)	054	61,412,555	37,681,841	86,535,460	53,025,635
XI PRE-TAX PROFIT OR LOSS (ADP 053-054)	055	2,744,262	626,441	3,447,918	1,957,965
1 Pre-tax profit (ADP 053-054)	056	2,744,262	626,441	3,447,918	1,957,965
2 Pre-tax loss (ADP 054-053)	057	0	0	0	0
XII INCOME TAX	058	552,201	291,153	1,106,792	901,701
XIII PROFIT OR LOSS FOR THE PERIOD (ADP 055-059)	059	2,192,061	335,288	2,341,126	1,056,264
1 Profit for the period (ADP 055-059)	060	2,192,061	335,288	2,341,126	1,056,264
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	0
1 Pre-tax profit from discontinued operations	063	0	0	0	0
2 Pre-tax loss on discontinued operations	064	0	0	0	0
XV INCOME TAX OF DISCONTINUED OPERATIONS	065	0	0	0	0
1 Discontinued operations profit for the period (ADP 062-065)	066	0	0	0	0
2 Discontinued operations loss for the period (ADP 065-062)	067	0	0	0	0
TOTAL OPERATIONS (to be filled in only by undertakings subject to IFRS with discontinued operations)
XVI PRE-TAX PROFIT OR LOSS (ADP 055-+062)	068	0	0	0	0
1 Pre-tax profit (ADP 068)	069	0	0	0	0
2 Pre-tax loss (ADP 068)	070	0	0	0	0
XVII INCOME TAX (ADP 058+065) XVIII PROFIT OR LOSS FOR THE PERIOD (ADP 068-071)	071 072	0 0	0 0	0 0	0 0
1 Profit for the period (ADP 068-071)	073	0	0	0	0
2 Loss for the period (ADP 071-068) 074 0 0 0 0 APPENDIX to the P&L (to be filled in by undertakings that draw up consolidated annual financial statements)
XIX PROFIT OR LOSS FOR THE PERIOD (ADP 076+077)	075	2,192,062	335,291	2,341,126	1,056,266
1 Attributable to owners of the parent	076	2,199,391	327,688	2,293,284	912,797
2 Attributable to minority (non-controlling) interest	077	-7,329	7,603	47,842	143,469
STATEMENT OF OTHER COMPRHENSIVE INCOME (to be filled in by undertakings subject to IFRS)
I PROFIT OR LOSS FOR THE PERIOD	078	2,192,062	335,291	2,341,126	1,056,266
II OTHER COMPREHENSIVE INCOME/LOSS BEFORE TAX (ADP 80+ 87)	079	-316,968	46,864	-83,860	-93,893
III Items that will not be reclassified to profit or loss (ADP 081 to 085)	080	0	0	0	0
1 Changes in revaluation reserves of fixed tangible and intangible assets	081	0	0	0	0
2 Gains or losses from subsequent measurement of equity instruments at fair value through other comprehensive income	082	0	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	0
4 Actuarial gains/losses on the defined benefit obligation	084	0	0	0	0
5 Other items that will not be reclassified	085	0	0	0	0
6 Income tax relating to items that will not be reclassified	086	0	0	0	0
IV Items that may be reclassified to profit or loss (ADP 088 to 095)	087	-316,968	46,864	-83,860	-93,893
1 Exchange rate differences from translation of foreign operations	088	-316,968	46,864	-83,860	-93,893
2 Gains or losses from subsequent measurement of debt securities at fair value through other comprehensive income	089	0	0	0	0
3 Profit or loss arising from effective cash flow hedging	090	0	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 virtue of participating interests	092	0	0	0	0
6 Changes in fair value of the time value of option	093	0	0	0	0
7 Changes in fair value of forward elements of forward contracts	094	0	0	0	0
8 Other items that may be reclassified to profit or loss	095	0	0	0	0
9 Income tax relating to items that may be reclassified to profit or loss	096	0	0	0	0
V NET OTHER COMPREHENSIVE INCOME OR LOSS (ADP 080+087- 086 - 096)	097	-316,968	46,864	-83,860	-93,893
VI COMPREHENSIVE INCOME OR LOSS FOR THE PERIOD (ADP 078+097)	098	1,875,094	382,155	2,257,266	962,373
APPENDIX to the Statement on comprehensive income (to be filled in by undertakings that draw up consolidated statements)
VI COMPREHENSIVE INCOME OR LOSS FOR THE PERIOD (ADP 100+101)	099	1,875,094	382,155	2,257,266	962,373
1 Attributable to owners of the parent	100	1,882,423	374,552	2,209,424	818,904
2 Attributable to minority (non-controlling) interest	101	-7,329	7,603	47,842	143,469

Span Group

Submitter: Span d.d.

BALANCE SHEET balance as at 30.06.2024

in EUR

Item	ADP code	Last day of the preceding business year	At the reporting date of the current period
1	2	3	4
A) RECEIVABLES FOR SUBSCRIBED CAPITAL UNPAID	001	0	0
B) FIXED ASSETS (ADP 003+010+020+031+036)	002	25,651,331	25,445,380
I INTANGIBLE ASSETS (ADP 004 to 009)	003	16,053,827	15,603,929
1 Research and development	004	1,773,304	1,491,614
2 Concessions, patents, licences, trademarks, software and other rights	005	780,638	992,572
3 Goodwill	006	8,905,148	8,905,148
4 Advances for the purchase of intangible assets	007	0	0
5 Intangible assets in preparation	008	694,426	592,941
6 Other intangible assets	009	3,900,311	3,621,654
II TANGIBLE ASSETS (ADP 011 to 019)	010	7,399,452	8,284,049
1 Land	011	1,731,990	1,731,990
2 Buildings	012	3,453,866	4,353,179
3 Plant and equipment	013	736,056	879,073
4 Tools, working inventory and transportation assets	014	1,473,164	1,319,807
5 Biological assets	015	0	0
6 Advances for the purchase of tangible assets	016	0	0
7 Tangible assets in preparation	017	4,376	0
8 Other tangible assets	018	0	0
9 Investment property	019	0	0
III FIXED FINANCIAL ASSETS (ADP 021 to 030)	020	473,147	448,037
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	024	0	0
5 Investment in other securities of companies linked by virtue of participating interests	025	0	0
6 Loans, deposits etc. to companies linked by virtue of participating interests	026	0	0
7 Investments in securities	027	0	0
8 Loans, deposits, etc. given	028	84,692	60,669
9 Other investments accounted for using the equity method	029	261,520	261,087
10 Other fixed financial assets	030	126,935	126,281
IV RECEIVABLES (ADP 032 to 035)	031	509	509
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	0	0
4 Other receivables	035	509	509
V DEFERRED TAX ASSETS	036	1,724,396	1,108,856
C) CURRENT ASSETS (ADP 038+046+053+063)	037	42,693,087	42,638,666
I INVENTORIES (ADP 039 to 045)	038	274,767	1,552,144
1 Raw materials and consumables	039	0	0
2 Work in progress	040	0	0
3 Finished goods	041	0	0
4 Merchandise	042	274,767	1,552,144
5 Advances for inventories	043	0	0
6 Fixed assets held for sale	044	0	0
7 Biological assets	045	0	0
II RECEIVABLES (ADP 047 to 052)	046	27,602,611	24,128,815
1 Receivables from undertakings within the group	047	0	0
2 Receivables from companies linked by virtue of participating interests	048	0	0
3 Customer receivables	049	26,634,408	23,159,926
4 Receivables from employees and members of the undertaking	050	0	0
5 Receivables from government and other institutions	051	552,320	304,152
6 Other receivables	052	415,883	664,737
III CURRENT FINANCIAL ASSETS (ADP 054 to 062)	053	436,214	528,714
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 interests	059	0	0
7 Investments in securities	060	100,495	200,495

	- UNAUDITED FINANCIAL STATEMENTS OF SPAN GROUP AND SPAN D.D. JANUARY — JUNE 2024 -

8 Loans, deposits, etc. given	061	335,719	328,219
9 Other financial assets	062	0	0
IV CASH AT BANK AND IN HAND	063	14,379,495	16,428,993
D ) PREPAID EXPENSES AND ACCRUED INCOME	064	3,916,351	5,946,946
E) TOTAL ASSETS (ADP 001+002+037+064)	065	72,260,769	74,030,992
	066	0	0
OFF-BALANCE SHEET ITEMS LIABILITIES
A) CAPITAL AND RESERVES (ADP 068 to 070+076+077+083+086+089)	067	30,422,899	31,365,940
I INITIAL (SUBSCRIBED) CAPITAL	068	3,920,000	3,920,000
	069
II CAPITAL RESERVES	070	9,918,809	9,888,641
III RESERVES FROM PROFIT (ADP 071+072-073+074+075)	071	1,377,098	713,684
1 Legal reserves		1,377,098	1,340,457
2 Reserves for treasury shares	072	624,100	572,591
3 Treasury shares and holdings (deductible item)	073	-624,100	-572,591
4 Statutory reserves	074	0	0
5 Other reserves	075	0	-626,773
IV REVALUATION RESERVES	076	1,876,704	1,876,704
V FAIR VALUE RESERVES AND OTHER (ADP 078 to 082)	077	-237,143	-321,003
1 Financial assets at fair value through other comprehensive income (i.e. available for sale)	078	0	0
2 Cash flow hedge - effective portion	079	0	0
3 Hedge of a net investment in a foreign operation - effective portion	080	0	0
4 Other fair value reserves	081	0	0
5 Exchange differences arising from the translation of foreign operations (consolidation)	082	-237,143	-321,003
VI RETAINED PROFIT OR LOSS BROUGHT FORWARD (ADP 084-085)	083	12,103,558	12,750,325
1 Retained profit	084	12,103,558	12,750,325
2 Loss brought forward	085	0	0
VII PROFIT OR LOSS FOR THE BUSINESS YEAR (ADP 087-088)	086	1,144,183	2,293,284
1 Profit for the business year	087	1,144,183	2,293,284
2 Loss for the business year	088	0	0
VIII MINORITY (NON-CONTROLLING) INTEREST	089	319,690	244,305
B) PROVISIONS (ADP 091 to 096)	090	0	0
1 Provisions for pensions, termination benefits and similar obligations	091	0	0
2 Provisions for tax liabilities	092	0	0
3 Provisions for ongoing legal cases	093	0	0
4 Provisions for renewal of natural resources	094	0	0
5 Provisions for warranty obligations	095	0	0
	096	0	0
6 Other provisions	097
C) LONG-TERM LIABILITIES (ADP 098 to 108)	098	3,508,824	2,452,691
1 Liabilities to undertakings within the group	099	0	0
2 Liabilities for loans, deposits, etc. of undertakings within the group	100	0	0
3 Liabilities to companies linked by virtue of participating interests		0	0
4 Liabilities for loans, deposits etc. of companies linked by virtue of participating interests	101	0	0
5 Liabilities for loans, deposits etc.	102	0	0
6 Liabilities to banks and other financial institutions	103	33,333	0
7 Liabilities for advance payments	104	0	0
8 Liabilities to suppliers	105	0	0
9 Liabilities for securities	106	0	0
10 Other long-term liabilities	107	2,894,585	1,876,430
11 Deferred tax liability	108	580,906	576,261
D) SHORT-TERM LIABILITIES (ADP 110 to 123)	109	32,014,407	35,447,739
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	0	0
4 Liabilities for loans, deposits etc. of companies linked by virtue of participating interests	113	0	0
5 Liabilities for loans, deposits etc.	114	0	0
6 Liabilities to banks and other financial institutions	115	2,073,477	4,111,289
7 Liabilities for advance payments	116	465,085	263,756
8 Liabilities to suppliers	117	19,640,965	19,974,476
9 Liabilities for securities	118	0	0
10 Liabilities to employees	119	1,781,238	1,759,975
11 Taxes, contributions and similar liabilities	120	3,355,011	3,611,108
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	4,698,631	5,727,135
E) ACCRUALS AND DEFERRED INCOME	124	6,314,639	4,764,622
F) TOTAL – LIABILITIES (ADP 067+090+097+109+124)	125	72,260,769	74,030,992
G) OFF-BALANCE SHEET ITEMS	126	0	0

Span Group

STATEMENT OF CASH FLOWS - indirect method for the period 01.01.2024 to 30.06.2024 in EUR

Submitter: Span d.d.
Item	ADP code	Same period of the previous year	Current period
1	2	3	4
Cash flow from operating activities
1 Pre-tax profit	001	2,744,262	3,447,918
2 Adjustments (ADP 003 to 010):	002	1,493,764	1,935,232
a) Depreciation	003	1,532,058	1,873,192
b) Gains and losses from sale and value adjustment of fixed tangible and intangible assets	004	-15,942	13,079
c) Gains and losses from sale and unrealised gains and losses and value adjustment of financial assets	005	331,065	1,087
d) Interest and dividend income	006	-64,560	-144,005
e) Interest expenses	007	57,793	149,336
f) Provisions	008	0	0
g) Exchange rate differences (unrealised)	009	-346,650	-55,954
h) Other adjustments for non-cash transactions and unrealised gains and losses	010	0	98,497
I Cash flow increase or decrease before changes in working capital (ADP 001+002)	011	4,238,026	5,383,150
3 Changes in the working capital (ADP 013 to 016)	012	1,558,330	-1,216,471
a) Increase or decrease in short-term liabilities	013	7,360,445	355,020
b) Increase or decrease in short-term receivables	014	-4,837,322	3,277,868
c) Increase or decrease in inventories	015	487,159	-1,277,377
d) Other increase or decrease in working capital	016	-1,451,952	-3,571,982
II Cash from operations (ADP 011+012)	017	5,796,356	4,166,679
4 Interest paid	018	-58,975	-111,524
5 Income tax paid	019	-262,642	-393,932
A) NET CASH FLOW FROM OPERATING ACTIVITIES (ADP 017 to 019)	020	5,474,739	3,661,223
Cash flow from investment activities
1 Cash receipts from sales of fixed tangible and intangible assets	021	26,287	10,295
2 Cash receipts from sales of financial instruments	022	0	0
3 Interest received	023	0	144,005
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	26,287	154,300
1 Cash payments for the purchase of fixed tangible and intangible assets	028	-1,280,916	-556,815
2 Cash payments for the acquisition of financial instruments	029	0	0
3 Cash payments for loans and deposits for the period	030	0	0
4 Acquisition of a subsidiary, net of cash acquired	031	-4,507,337	-2,064,497
5 Other cash payments from investment activities	032	0	0
IV Total cash payments from investment activities (ADP 028 to 032)	033	-5,788,253	-2,621,312
B) NET CASH FLOW FROM INVESTMENT ACTIVITIES (ADP 027 +033)	034	-5,761,966	-2,467,012
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	167,889	6,000,000
4 Other cash receipts from financing activities	038	64,560	31,523
V Total cash receipts from financing activities (ADP 035 to 038)	039	232,449	6,031,523
1 Cash payments for the repayment of credit principals, loans and other borrowings and debt financial instruments	040	-302,251	-4,033,333
2 Cash payments for dividends	041	-2,584,250	0
3 Cash payments for finance lease	042	-885	0
4 Cash payments for the redemption of treasury shares and decrease in initial (subscribed) capital	043	-336,000	-314,658
5 Other cash payments from financing activities	044	-692,733	-828,245
VI Total cash payments from financing activities (ADP 040 to 044)	045	-3,916,119	-5,176,236
C) NET CASH FLOW FROM FINANCING ACTIVITIES (ADP 039 +045)	046	-3,683,670	855,287
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	-3,970,897	2,049,498
E) CASH AND CASH EQUIVALENTS AT THE BEGINNING OF THE PERIOD	049	18,815,261	14,379,495
F) CASH AND CASH EQUIVALENTS AT THE END OF THE PERIOD (ADP 048+049)	050	14,844,364	16,428,993

STATEMENT OF CHANGES IN EQUITY Span Group

for the period from 01.01.2024 to 30.06.2024 in EUR

	Attributable to owners of the parent
Item	AOP code	Initial (subscribed) capital	Capital reserves	Legal reserves	Reserves for treasury shares	Treasury shares and holdings (deductible item)	Statutory reserves	Other reserves	Revaluation reserves	Fair value of financial assets through other comprehensive income (available for sale)	Cash flow hedge - effective portion	Hedge of a net inve stment in a foreign operation - effective portion	Other fair value reserves	Exchange rate differences from translation of foreign operations	Retained profit / loss brought forward	Profit/loss for the business year	Total attributable to owners of the parent	Minority (non-controlling) interest	Total capital and reserves
1	2	3	4	5	6	7	8	9	10	11	12	13	14	15	16	17	18 (3 to 6 - 7 + 8 to 17)	19	20 (18+19)
Previous period
1 Balance on the first day of the previous business year	01	2,601,367	10,911,764	1,348,532	156,772	156,772	0	0	1,997,109	0	0	0	0	97,815	7,793,811	6,638,086	31,388,484	217,238	31,605,722
2 Changes in accounting policies	02	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
3 Correction of errors	03	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
4 Balance on the first day of the previous business year (restated) (ADP 01 to 03)	04	2,601,367	10,911,764	1,348,532	156,772	156,772	0	0	1,997,109	0	0	0	0	97,815	7,793,811	6,638,086	31,388,484	217,238	31,605,722
5 Profit/loss of the period	05	0	0	0	0	0	0	0	0	0	0	0	0	0	0	1,144,183	1,144,183	102,452	1,246,635
6 Exchange rate differences from translation of foreign operations	06	0	0	0	0	0	0	0	0	0	0	0	0	-334,958	0	0	-334,958	0	-334,958
7 Changes in revaluation reserves of fixed tangible and intangible assets	07	0	0	0	0	0	0	0	-120,405	0	0	0	0	0	120,405	0	0	0	0
8 Gains or losses from subsequent measurement of financial assets at fair value through
other comprehensive income (available for sale)	08	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
9 Profit or loss arising from effective cash flow hedge	09	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
10 Profit or loss arising from effective hedge of a net investment in a foreign operation 11 Share in other comprehensive income/loss of companies linked by virtue of	10	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
participating interests	11	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
12 Actuarial gains/losses on the defined benefit obligation	12	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
13 Other changes in equity unrelated to owners	13	1,318,633	-1,318,633	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
14 Tax on transactions recognised directly in equity	14	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
15 Decrease in initial (subscribed) capital (other than arising from the pre-bankruptcy settlement procedure or from the reinvestment of profit)	15	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
16 Decrease in initial (subscribed) capital arising from the pre-bankruptcy settlement procedure	16	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
17 Decrease in initial (subscribed) capital arising from the reinvestment of profit	17	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
18 Redemption of treasury shares/holdings	18	0	0	0	703,413	703,413	0	0	0	0	0	0	0	0	0	0	0	0	0
19 Payments from members/shareholders	19	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
20 Payment of share in profit/dividend	20	0	0	0	0	0	0	0	0	0	0	0	0	0	0	-2,584,250	-2,584,250	0	-2,584,250
21 Other distributions and payments to members/shareholders	21	0	325,677	28,566	-236,085	-236,085	0	0	0	0	0	0	0	0	135,506	0	489,749	0	489,749
22 Transfer to reserves according to the annual schedule	22	0	0	0	0	0	0	0	0	0	0	0	0	0	4,053,836	-4,053,836	0	0	0
23 Increase in reserves arising from the pre-bankruptcy settlement procedure	23	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
24 Balance on the last day of the previous business year reporting period (ADP 04 to 23)	24	3,920,000	9,918,808	1,377,098	624,100	624,100	0	0	1,876,704	0	0	0	0	-237,143	12,103,558	1,144,183	30,103,208	319,690	30,422,898
APPENDIX TO THE STATEMENT OF CHANGES IN EQUITY (to be filled in by undertakings that draw up financial statements in accordance with the IFRS)
I OTHER COMPREHENSIVE INCOME OF THE PREVIOUS PERIOD, NET OF TAX (ADP 06 to 14)	25	1,318,633	-1,318,633	0	0	0	0	0	-120,405	0	0	0	0	-334,958	120,405	0	-334,958	0	-334,958
II COMPREHENSIVE INCOME OR LOSS FOR THE PREVIOUS PERIOD (ADP 05+25)	26	1,318,633	-1,318,633	0	0	0	0	0	-120,405	0	0	0	0	-334,958	120,405	1,144,183	809,225	102,452	911,677
III TRANSACTIONS WITH OWNERS IN THE PREVIOUS PERIOD RECOGNISED DIRECTLY IN EQUITY (ADP 15 to 23)	27	0	325,677	28,566	467,328	467,328	0	0	0	0	0	0	0	0	4,189,342	-6,638,086	-2,094,501	0	-2,094,501
Current period
1 Balance on the first day of the current business year	28	3,920,000	9,918,808	1,377,098	624,100	624,100	0	0	1,876,704	0	0	0	0	-237,143	12,103,558	1,144,183	30,103,208	319,690	30,422,898
2 Changes in accounting policies	29	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
3 Correction of errors	30	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
4 Balance on the first day of the current business year (restated) (AOP 28 to 30)	31	3,920,000	9,918,808	1,377,098	624,100	624,100	0	0	1,876,704	0	0	0	0	-237,143	12,103,558	1,144,183	30,103,208	319,690	30,422,898
5 Profit/loss of the period	32	0	0	0	0	0	0	0	0	0	0	0	0	0	0	2,293,284	2,293,284	47,842	2,341,126
6 Exchange rate differences from translation of foreign operations	33	0	0	0	0	0	0	0	0	0	0	0	0	-83,860	0	0	-83,860	0	-83,860
7 Changes in revaluation reserves of fixed tangible and intangible assets	34	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
8 Gains or losses from subsequent measurement of financial assets at fair value through other comprehensive income (available for sale)	35	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
9 Profit or loss arising from effective cash flow hedge	36	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
10 Profit or loss arising from effective hedge of a net investment in a foreign operation	37	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
11 Share in other comprehensive income/loss of companies linked by virtue of participating interests	38	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
12 Actuarial gains/losses on the defined benefit obligation	39	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
13 Other changes in equity unrelated to owners	40	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
14 Tax on transactions recognised directly in equity	41	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
15 Decrease in initial (subscribed) capital (other than arising from the pre-bankruptcy settlement procedure or from the reinvestment of profit)	42	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
16 Decrease in initial (subscribed) capital arising from the pre-bankruptcy settlement procedure	43	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
17 Decrease in initial (subscribed) capital arising from the reinvestment of profit	44	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
18 Redemption of treasury shares/holdings	45	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
19 Payments from members/shareholders	46	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
20 Payment of share in profit/dividend	47	0	0	0	0	0	0	0	0	0	0	0	0	0	-124,122	-461,445	-585,567	0	-585,567
21 Other distributions and payments to members/shareholders	48	0	-30,167	-36,642	-51,509	-51,509	0	-626,773	0	0	0	0	0	0	88,151	0	-605,431	-123,227	-728,658
22 Carryforward per annual plane	49	0	0	0	0	0	0	0	0	0	0	0	0	0	682,738	-682,738	0	0	0
23 Increase in reserves arising from the pre-bankruptcy settlement procedure	50	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
24 Balance on the last day of the current business year reporting period (ADP 31 to 50)	51	3,920,000	9,888,641	1,340,456	572,591	572,591	0	-626,773	1,876,704	0	0	0	0	-321,003	12,750,325	2,293,284	31,121,634	244,305	31,365,939
APPENDIX TO THE STATEMENT OF CHANGES IN EQUITY (to be filled in by undertakings that draw up financial statements in accordance with the IFRS)
I OTHER COMPREHENSIVE INCOME FOR THE CURRENT PERIOD, NET OF TAX (ADP 33 to 41)	52	0	0	0	0	0	0	0	0	0	0	0	0	-83,860	0	0	-83,860	0	-83,860
II COMPREHENSIVE INCOME OR LOSS FOR THE CURRENT PERIOD (ADP 32 do 52)	53	0	0	0	0	0	0	0	0	0	0	0	0	-83,860	0	2,293,284	2,209,424	47,842	2,257,266
III TRANSACTIONS WITH OWNERS IN THE CURRENT PERIOD RECOGNISED DIRECTLY IN EQUITY (ADP 42 to 50)	54	0	-30,167	-36,642	-51,509	-51,509	0	-626,773	0	0	0	0	0	0	646,767	-1,144,183	-1,190,998	-123,227	-1,314,225

Span d.d.

STATEMENT OF PROFIT OR LOSS for the period 01.01.2024 to 30.06.2024

in EUR

Submitter: Span d.d.
Item	AOP code	Same period of the previous year Cumulative Quarter		Cumulative	Current period Quarter
1	2	3	4	5	6
I OPERATING INCOME (ADP 002 to 006)	001	45,789,999	25,470,119	48,425,182	29,097,543
1 Income from sales with undertakings within the group	002	11,357,329	6,462,622	11,762,939	7,041,610
2 Income from sales (outside group)	003	33,988,619	18,661,334	36,350,972	21,939,185
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	13,942	6,177	65,745	28,915
5 Other operating income (outside the group)	006	430,109	339,986	245,526	87,833
II OPERATING EXPENSES (ADP 08+009+013+017+018+019+022+029)	007	44,066,727	25,825,977	47,271,684	28,738,597
1 Changes in inventories of work in progress and finished goods	008	0	0	0	0
2 Material costs (ADP 010 to 012)	009	30,723,381	18,827,271	32,042,098	20,916,819
a) Costs of raw materials and consumables	010	248,130	127,158	271,798	124,998
b) Costs of goods sold	011	26,137,754	16,169,360	26,809,684	17,746,907
c) Other external costs	012	4,337,497	2,530,753	4,960,616	3,044,914
3 Staff costs (ADP 014 to 016)	013	11,292,351	5,894,903	12,840,440	6,592,467
a) Net salaries and wages	014	6,798,954	3,619,725	7,863,654	4,108,021
b) Tax and contributions from salary costs	015	3,413,934	1,729,120	3,707,634	1,844,266
c) Contributions on salaries	016	1,079,463	546,058	1,269,152	640,180
4 Depreciation	017	1,119,293	578,787	1,282,100	647,607
5 Other costs	018	929,134	529,284	1,107,046	581,704
6 Value adjustments (ADP 020+021)	019	2,568	-4,268	0	0
a) fixed assets other than financial assets	020	0	0	0	0
b) current assets other than financial assets	021	2,568	-4,268	0	0
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
f) Other provisions	028	0	0	0	0
8 Other operating expenses	029	0 0	0 0	0 0	0 0
III FINANCIAL INCOME (ADP 031 to 040)	030	173,371	123,675	1,835,192	1,736,328
1 Income from investments in holdings (shares) of undertakings within the group	031	0	0	1,650,000	1,650,000
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	033	0	0	0	0
within the group
4 Other interest income from operations with undertakings within the group 5 Exchange rate differences and other financial income from operations with	034	0	0	0	0
undertakings within the group	035	4,336	2,700	2,146	2,146
6 Income from other long-term financial investments and loans	036	0	0	0	0
7 Other interest income	037	22,709	20,078	23,122	20,039
8 Exchange rate differences and other financial income	038	146,326	100,897	159,924	64,143
9 Unrealised gains (income) from financial assets	039	0	0	0	0
10 Other financial income	040	0	0	0	0
IV FINANCIAL EXPENSES (ADP 042 to 048)	041	291,270	113,121	227,488	147,383
1 Interest expenses and similar expenses with undertakings within the group	042	0	0	0	0
2 Exchange rate differences and other expenses from operations with undertakings within the group	043	4,422	990	10,044	10,044
3 Interest expenses and similar expenses	044	42,313	21,228	153,422	109,561
4 Exchange rate differences and other expenses	045	244,535	90,903	43,191	27,778
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	0	0	20,831	0
V 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	0	0	0
VII SHARE IN LOSS OF COMPANIES LINKED BY VIRTUE OF PARTICIPATING INTEREST	051	0	0	0	0
VIII SHARE IN LOSS OF JOINT VENTURES	052	0	0	0	0
IX TOTAL INCOME (ADP 001+030+049 +050)	053	45,963,370	25,593,794	50,260,374	30,833,871
X TOTAL EXPENDITURE (ADP 007+041+051 + 052)	054	44,357,997	25,939,098	47,499,172	28,885,980
XI PRE-TAX PROFIT OR LOSS (ADP 053-054)	055	1,605,373	-345,304	2,761,202	1,947,891
1 Pre-tax profit (ADP 053-054)	056	1,605,373	0	2,761,202	1,947,891
2 Pre-tax loss (ADP 054-053)	057	0	-345,304	0	0
XII INCOME TAX	058	315,967	109,773	300,017	161,196
XIII PROFIT OR LOSS FOR THE PERIOD (ADP 055-059)	059	1,289,406	-455,077	2,461,185	1,786,695
1 Profit for the period (ADP 055-059)	060	1,289,406	0	2,461,185	1,786,695
2 Loss for the period (ADP 059-055)	061	0	-455,077	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	0
1 Pre-tax profit from discontinued operations	063	0	0	0	0
2 Pre-tax loss on discontinued operations	064	0	0	0	0
XV INCOME TAX OF DISCONTINUED OPERATIONS	065	0	0	0	0
1 Discontinued operations profit for the period (ADP 062-065)	066	0	0	0	0
2 Discontinued operations loss for the period (ADP 065-062)	067	0	0	0	0
TOTAL OPERATIONS (to be filled in only by undertakings subject to IFRS with discontinued operations)
XVI PRE-TAX PROFIT OR LOSS (ADP 055-+062)	068	0	0	0	0
1 Pre-tax profit (ADP 068) 2 Pre-tax loss (ADP 068)	069 070	0 0	0 0	0 0	0 0
XVII INCOME TAX (ADP 058+065)	071	0	0	0	0
XVIII PROFIT OR LOSS FOR THE PERIOD (ADP 068-071)	072	0	0	0	0
1 Profit for the period (ADP 068-071)	073	0	0	0	0
2 Loss for the period (ADP 071-068)	074	0	0	0	0
APPENDIX to the P&L (to be filled in by undertakings that draw up consolidated annual financial statements)
XIX PROFIT OR LOSS FOR THE PERIOD (ADP 076+077)	075	0	0	0	0
1 Attributable to owners of the parent	076	0	0	0	0
2 Attributable to minority (non-controlling) interest	077	0	0	0	0
STATEMENT OF OTHER COMPRHENSIVE INCOME (to be filled in by undertakings subject to IFRS)
I PROFIT OR LOSS FOR THE PERIOD	078	1,289,406	-455,077	2,461,185	1,786,695
II OTHER COMPREHENSIVE INCOME/LOSS BEFORE TAX (ADP 80+ 87)	079	0	0	0	0
III Items that will not be reclassified to profit or loss (ADP 081 to 085)	080	0	0	0	0
1 Changes in revaluation reserves of fixed tangible and intangible assets	081	0	0	0	0
2 Gains or losses from subsequent measurement of equity instruments at fair value through other comprehensive income	082	0	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	0
4 Actuarial gains/losses on the defined benefit obligation	084	0	0	0	0
5 Other items that will not be reclassified	085	0	0	0	0
6 Income tax relating to items that will not be reclassified	086	0	0	0	0
IV Items that may be reclassified to profit or loss (ADP 088 to 095)	087	0	0	0	0
1 Exchange rate differences from translation of foreign operations	088	0	0	0	0
2 Gains or losses from subsequent measurement of debt securities at fair value through other comprehensive income	089	0	0	0	0
3 Profit or loss arising from effective cash flow hedging	090	0	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 virtue of participating interests	092	0	0	0	0
6 Changes in fair value of the time value of option	093	0	0	0	0
7 Changes in fair value of forward elements of forward contracts	094	0	0	0	0
8 Other items that may be reclassified to profit or loss	095	0	0	0	0
9 Income tax relating to items that may be reclassified to profit or loss	096	0	0	0	0
V NET OTHER COMPREHENSIVE INCOME OR LOSS (ADP 080+087- 086 - 096)	097	0	0	0	0
VI COMPREHENSIVE INCOME OR LOSS FOR THE PERIOD (ADP 078+097) APPENDIX to the Statement on comprehensive income (to be filled in by undertakings that draw up consolidated statements)	098	1,289,406	-455,077	2,461,185	1,786,695
VI COMPREHENSIVE INCOME OR LOSS FOR THE PERIOD (ADP 100+101) 1 Attributable to owners of the parent	099 100	0 0	0 0	0 0	0 0

Span d.d.

Submitter: Span d.d.

BALANCE SHEET balance as at 30.06.2024

in EUR

Item	ADP code	Last day of the preceding business year	At the reporting date of the current period
1	2	3	4
A) RECEIVABLES FOR SUBSCRIBED CAPITAL UNPAID	001	0	0
B) FIXED ASSETS (ADP 003+010+020+031+036)	002	30,014,430	31,668,585
I INTANGIBLE ASSETS (ADP 004 to 009)	003	5,113,644	5,173,242
1 Research and development	004	1,192,430	1,012,249
2 Concessions, patents, licences, trademarks, software and other rights	005	710,608	925,829
3 Goodwill	006	2,320,685	2,320,685
4 Advances for the purchase of intangible assets	007	0	0
5 Intangible assets in preparation	008	889,921	914,479
6 Other intangible assets	009	0	0
II TANGIBLE ASSETS (ADP 011 to 019)	010	6,569,955	7,637,414
1 Land	011	1,731,990	1,731,990
2 Buildings	012	3,015,688	4,021,757
3 Plant and equipment	013	671,780	806,430
4 Tools, working inventory and transportation assets	014	1,149,713	1,077,237
5 Biological assets	015	0	0
6 Advances for the purchase of tangible assets	016	0	0
7 Tangible assets in preparation	017	784	0
8 Other tangible assets	018	0	0
9 Investment property	019	0	0
III FIXED FINANCIAL ASSETS (ADP 021 to 030)	020	17,185,820	18,012,935
	021
1 Investments in holdings (shares) of undertakings within the group	022	16,808,086	17,692,002
2 Investments in other securities of undertakings within the group	023	0	0
3 Loans, deposits, etc. to undertakings within the group	024	56,801	0
4. Investments in holdings (shares) of companies linked by virtue of participating interests	025	266,375	266,375
5 Investment in other securities of companies linked by virtue of participating interests		0	0
6 Loans, deposits etc. to companies linked by virtue of participating interests	026	0	0
7 Investments in securities	027	0	0
8 Loans, deposits, etc. given	028	32,582	32,582
9 Other investments accounted for using the equity method	029	0	0
10 Other fixed financial assets	030	21,976	21,976
IV RECEIVABLES (ADP 032 to 035)	031	509	509
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	0	0
4 Other receivables	035	509	509
V DEFERRED TAX ASSETS	036	1,144,502	844,485
C) CURRENT ASSETS (ADP 038+046+053+063)	037	19,288,376	24,663,874
I INVENTORIES (ADP 039 to 045)	038	261,494	1,539,495
1 Raw materials and consumables	039	0	0
2 Work in progress	040	0	0
3 Finished goods	041	0	0
4 Merchandise	042	261,494	1,539,495
5 Advances for inventories	043	0	0
6 Fixed assets held for sale	044	0	0
7 Biological assets	045	0	0
II RECEIVABLES (ADP 047 to 052)	046	14,120,790	15,066,667
1 Receivables from undertakings within the group	047	421,828	1,667,494
2 Receivables from companies linked by virtue of participating interests	048	0	0
3 Customer receivables	049	13,314,805	12,731,892
4 Receivables from employees and members of the undertaking	050	0	0
5 Receivables from government and other institutions	051	191,432	182,176
6 Other receivables	052	192,725	485,105
III CURRENT FINANCIAL ASSETS (ADP 054 to 062)	053	73,784	491,717
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	73,784	491,717
4 Investments in holdings (shares) of companies linked by virtue of participating interests	057	0	0
5 Investment in other securities of companies linked by virtue of participating interests	058	0	0
6 Loans, deposits etc. to companies linked by virtue of participating interests	059	0	0
7 Investments in securities	060	0	0

	- UNAUDITED FINANCIAL STATEMENTS OF SPAN GROUP AND SPAN D.D. JANUARY — JUNE 2024 -

8 Loans, deposits, etc. given	061	0	0
	062
9 Other financial assets		0	0
IV CASH AT BANK AND IN HAND	063	4,832,308	7,565,995
D ) PREPAID EXPENSES AND ACCRUED INCOME	064	3,680,713	3,871,695
E) TOTAL ASSETS (ADP 001+002+037+064)	065	52,983,519	60,204,154
OFF-BALANCE SHEET ITEMS	066	0	0
LIABILITIES
A) CAPITAL AND RESERVES (ADP 068 to 070+076+077+083+086+089)	067	27,082,454	28,979,415
I INITIAL (SUBSCRIBED) CAPITAL	068	3,920,000	3,920,000
II CAPITAL RESERVES	069	9,918,809	9,888,641
III RESERVES FROM PROFIT (ADP 071+072-073+074+075)	070	1,259,454	1,259,454
1 Legal reserves	071	1,259,454	1,259,454
2 Reserves for treasury shares	072	571,011	519,502
3 Treasury shares and holdings (deductible item)	073	-571,011	-519,502
	074	0	0
4 Statutory reserves	075
5 Other reserves		0	0
IV REVALUATION RESERVES	076	1,876,704	1,876,704
V FAIR VALUE RESERVES AND OTHER (ADP 078 to 082)	077	0	0
1 Financial assets at fair value through other comprehensive income (i.e. available for sale)	078	0	0
2 Cash flow hedge - effective portion	079	0	0
3 Hedge of a net investment in a foreign operation - effective portion	080	0	0
4 Other fair value reserves	081	0	0
5 Exchange differences arising from the translation of foreign operations (consolidation)	082	0	0
VI RETAINED PROFIT OR LOSS BROUGHT FORWARD (ADP 084-085)	083	9,646,042	9,573,429
	084
1 Retained profit		9,646,042	9,573,429
2 Loss brought forward	085	0	0
VII PROFIT OR LOSS FOR THE BUSINESS YEAR (ADP 087-088)	086	461,445	2,461,187
1 Profit for the business year	087	461,445	2,461,187
2 Loss for the business year	088	0	0
VIII MINORITY (NON-CONTROLLING) INTEREST	089	0	0
B) PROVISIONS (ADP 091 to 096)	090	0	0
1 Provisions for pensions, termination benefits and similar obligations	091	0	0
2 Provisions for tax liabilities	092	0	0
	093
3 Provisions for ongoing legal cases		0	0
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	2,995,261	1,918,984
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
	102
5 Liabilities for loans, deposits etc.		0	0
6 Liabilities to banks and other financial institutions	103	33,333	0
7 Liabilities for advance payments	104	0	0
8 Liabilities to suppliers	105	0	0
9 Liabilities for securities	106	0	0
10 Other long-term liabilities	107	2,549,969	1,507,025
11 Deferred tax liability	108	411,959	411,959
D) SHORT-TERM LIABILITIES (ADP 110 to 123)	109	18,093,243	26,286,467
1 Liabilities to undertakings within the group	110	293,901	1,099,611
2 Liabilities for loans, deposits, etc. of undertakings within the group	111	0	0
	112
3 Liabilities to companies linked by virtue of participating interests		0	0
4 Liabilities for loans, deposits etc. of companies linked by virtue of participating interests	113	0	0
5 Liabilities for loans, deposits etc.	114	0	0
6 Liabilities to banks and other financial institutions	115	2,073,477	4,111,289
7 Liabilities for advance payments	116	209,189	216,463
8 Liabilities to suppliers	117	10,101,315	13,023,342
9 Liabilities for securities	118	0	0
10 Liabilities to employees	119	1,275,225	1,343,533
11 Taxes, contributions and similar liabilities	120	1,265,065	1,867,306
12 Liabilities arising from the share in the result	121	0	0
	122
13 Liabilities arising from fixed assets held for sale		0	0
14 Other short-term liabilities	123	2,875,071	4,624,923
E) ACCRUALS AND DEFERRED INCOME	124	4,812,561	3,019,288
F) TOTAL – LIABILITIES (ADP 067+090+097+109+124)	125	52,983,519	60,204,154
G) OFF-BALANCE SHEET ITEMS	126	0	0

Span d.d.

STATEMENT OF CASH FLOWS - indirect method for the period 01.01.2024 to 30.06.2024 in EUR

Submitter: Span d.d.
Item	ADP code	Same period of the previous year	Current period
1	2	3	4
Cash flow from operating activities
1 Pre-tax profit	001	1,605,373	2,761,203
2 Adjustments (ADP 003 to 010):	002	1,125,603	-153,660
a) Depreciation	003	1,119,293	1,282,101
b) Gains and losses from sale and value adjustment of fixed tangible and intangible assets	004	-15,862	-8,172
c) Gains and losses from sale and unrealised gains and losses and value adjustment of financial assets	005	2,568	30,255
d) Interest and dividend income	006	-22,709	-1,673,122
e) Interest expenses	007	42,313	153,423
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	0	61,855
I Cash flow increase or decrease before changes in working capital (ADP 001+002)	011	2,730,976	2,607,543
3 Changes in the working capital (ADP 013 to 016)	012	3,368,953	789,238
a) Increase or decrease in short-term liabilities	013	8,333,754	4,974,728
b) Increase or decrease in short-term receivables	014	-3,770,790	-923,234
c) Increase or decrease in inventories	015	373,659	-1,278,001
d) Other increase or decrease in working capital	016	-1,567,670	-1,984,255
II Cash from operations (ADP 011+012)	017	6,099,929	3,396,781
4 Interest paid	018	-43,495	-115,611
5 Income tax paid	019	-14,409	-66,516
A) NET CASH FLOW FROM OPERATING ACTIVITIES (ADP 017 to 019)	020	6,042,025	3,214,654
Cash flow from investment activities
1 Cash receipts from sales of fixed tangible and intangible assets	021	16,433	10,295
2 Cash receipts from sales of financial instruments	022	0	0
3 Interest received	023	0	23,122
4 Dividends received	024	0	1,650,000
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	16,433	1,683,417
1 Cash payments for the purchase of fixed tangible and intangible assets	028	-1,386,159	-631,026
2 Cash payments for the acquisition of financial instruments	029	0	0
3 Cash payments for loans and deposits for the period	030	0	0
4 Acquisition of a subsidiary, net of cash acquired	031	-7,790,576	-2,161,772
5 Other cash payments from investment activities	032	0	0
IV Total cash payments from investment activities (ADP 028 to 032)	033	-9,176,735	-2,792,798
B) NET CASH FLOW FROM INVESTMENT ACTIVITIES (ADP 027 +033)	034	-9,160,302	-1,109,381
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	0	7,550,000
4 Other cash receipts from financing activities	038	93,021	56,802
V Total cash receipts from financing activities (ADP 035 to 038)	039	93,021	7,606,802
1 Cash payments for the repayment of credit principals, loans and other borrowings and debt financial instruments	040	-302,251	-6,054,164
2 Cash payments for dividends	041	-2,584,250	0
3 Cash payments for finance lease	042	-885	0
4 Cash payments for the redemption of treasury shares and decrease in initial (subscribed) capital	043	-336,000	-314,659
5 Other cash payments from financing activities	044	-580,353	-609,565
VI Total cash payments from financing activities (ADP 040 to 044)	045	-3,803,739	-6,978,388
C) NET CASH FLOW FROM FINANCING ACTIVITIES (ADP 039 +045)	046	-3,710,718	628,414
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	-6,828,995	2,733,687
E) CASH AND CASH EQUIVALENTS AT THE BEGINNING OF THE PERIOD	049	14,212,306	4,832,308
F) CASH AND CASH EQUIVALENTS AT THE END OF THE PERIOD (ADP 048+049)	050	7,383,311	7,565,995

STATEMENT OF CHANGES IN EQUITY Span d.d.

for the period from 01.01.2024 to 30.06.2024 in EUR

	Attributable to owners of the parent
Item	AOP code	Initial (subscribed) capital	Capital reserves	Legal reserves	Reserves for treasury shares	Treasury shares and holdings (deductible item)	Statutory reserves	Other reserves	Revaluation reserves	Fair value of financial assets through other comprehensive income (available for sale)	Cash flow hedge - effective portion	Hedge of a net inve stment in a foreign operation - effective portion	Other fair value reserves	Exchange rate differences from translation of foreign operations	Retained profit / loss brought forward	Profit/loss for the business year	Total attributable to owners of the parent	Minority (non-controlling) interest	Total capital and reserves
1	2	3	4	5	6	7	8	9	10	11	12	13	14	15	16	17	18 (3 to 6 - 7 + 8 to 17)	19	20 (18+19)
Previous period
1 Balance on the first day of the previous business year	01	2,601,367	10,912,206	1,168,910	103,683	103,683	0	0	1,997,109	0	0	0	0	0	7,098,471	5,569,288	29,347,351	0	29,347,351
2 Changes in accounting policies	02	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
3 Correction of errors	03	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
4 Balance on the first day of the previous business year (restated) (ADP 01 to 03)	04	2,601,367	10,912,206	1,168,910	103,683	103,683	0	0	1,997,109	0	0	0	0	0	7,098,471	5,569,288	29,347,351	0	29,347,351
5 Profit/loss of the period	05	0	0	0	0	0	0	0	0	0	0	0	0	0	0	461,445	461,445	0	461,445
6 Exchange rate differences from translation of foreign operations	06	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
7 Changes in revaluation reserves of fixed tangible and intangible assets	07	0	0	0	0	0	0	0	-120,405	0	0	0	0	0	120,405	0	0	0	0
8 Gains or losses from subsequent measurement of financial assets at fair value through other comprehensive income (available for sale)	08	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
9 Profit or loss arising from effective cash flow hedge	09	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
10 Profit or loss arising from effective hedge of a net investment in a foreign operation	10	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
11 Share in other comprehensive income/loss of companies linked by virtue of	11	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
participating interests 12 Actuarial gains/losses on the defined benefit obligation	12	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
13 Other changes in equity unrelated to owners	13	1,318,633	-1,318,633	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
14 Tax on transactions recognised directly in equity	14	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
15 Decrease in initial (subscribed) capital (other than arising from the pre-bankruptcy
settlement procedure or from the reinvestment of profit)	15	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
16 Decrease in initial (subscribed) capital arising from the pre-bankruptcy settlement procedure	16	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
17 Decrease in initial (subscribed) capital arising from the reinvestment of profit	17	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
18 Redemption of treasury shares/holdings	18	0	0	0	703,413	703,413	0	0	0	0	0	0	0	0	0	0	0	0	0
19 Payments from members/shareholders	19	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
20 Payment of share in profit/dividend	20	0	0	0	0	0	0	0	0	0	0	0	0	0	0	-2,584,250	-2,584,250	0	-2,584,250
21 Other distributions and payments to members/shareholders	21	0	325,236	90,544	-236,085	-236,085	0	0	0	0	0	0	0	0	-557,872	0	-142,092	0	-142,092
22 Transfer to reserves according to the annual schedule	22	0	0	0	0	0	0	0	0	0	0	0	0	0	2,985,038	-2,985,038	0	0	0
23 Increase in reserves arising from the pre-bankruptcy settlement procedure	23	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
24 Balance on the last day of the previous business year reporting period (ADP 04 to 23) APPENDIX TO THE STATEMENT OF CHANGES IN EQUITY (to be filled in by undertakings that draw up financial statements in accordance with the IFRS)	24	3,920,000	9,918,809	1,259,454	571,011	571,011	0	0	1,876,704	0	0	0	0	0	9,646,042	461,445	27,082,454	0	27,082,454
I OTHER COMPREHENSIVE INCOME OF THE PREVIOUS PERIOD, NET OF TAX (ADP 06 to 14)	25	1,318,633	-1,318,633	0	0	0	0	0	-120,405	0	0	0	0	0	120,405	0	0	0	0
II COMPREHENSIVE INCOME OR LOSS FOR THE PREVIOUS PERIOD (ADP 05+25)	26	1,318,633	-1,318,633	0	0	0	0	0	-120,405	0	0	0	0	0	120,405	461,445	461,445	0	461,445
III TRANSACTIONS WITH OWNERS IN THE PREVIOUS PERIOD RECOGNISED
DIRECTLY IN EQUITY (ADP 15 to 23)	27	0	325,236	90,544	467,328	467,328	0	0	0	0	0	0	0	0	2,427,166	-5,569,288	-2,726,342	0	-2,726,342
Current period
1 Balance on the first day of the current business year	28	3,920,000	9,918,809	1,259,454	571,011	571,011	0	0	1,876,704	0	0	0	0	0	9,646,042	461,445	27,082,454	0	27,082,454
2 Changes in accounting policies	29	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
3 Correction of errors	30	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
4 Balance on the first day of the current business year (restated) (AOP 28 to 30) 5 Profit/loss of the period	31 32	3,920,000 0	9,918,809 0	1,259,454 0	571,011 0	571,011 0	0 0	0 0	1,876,704 0	0 0	0 0	0 0	0 0	0 0	9,646,042 0	461,445 2,461,187	27,082,454 2,461,187	0 0	27,082,454 2,461,187
6 Exchange rate differences from translation of foreign operations	33	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
7 Changes in revaluation reserves of fixed tangible and intangible assets	34	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
8 Gains or losses from subsequent measurement of financial assets at fair value through
other comprehensive income (available for sale)	35	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
9 Profit or loss arising from effective cash flow hedge	36	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
10 Profit or loss arising from effective hedge of a net investment in a foreign operation	37	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
11 Share in other comprehensive income/loss of companies linked by virtue of participating interests	38	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
12 Actuarial gains/losses on the defined benefit obligation	39	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
13 Other changes in equity unrelated to owners	40	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
14 Tax on transactions recognised directly in equity	41	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
15 Decrease in initial (subscribed) capital (other than arising from the pre-bankruptcy settlement procedure or from the reinvestment of profit)	42	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
16 Decrease in initial (subscribed) capital arising from the pre-bankruptcy settlement procedure	43	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
17 Decrease in initial (subscribed) capital arising from the reinvestment of profit	44	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
18 Redemption of treasury shares/holdings	45	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
19 Payments from members/shareholders	46	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
20 Payment of share in profit/dividend	47	0	0	0	0	0	0	0	0	0	0	0	0	0	-124,122	-461,445	-585,567	0	-585,567
21 Other distributions and payments to members/shareholders	48	0	-30,168	0	-51,509	-51,509	0	0	0	0	0	0	0	0	51,509	0	21,341	0	21,341
22 Carryforward per annual plane	49	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
23 Increase in reserves arising from the pre-bankruptcy settlement procedure	50	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
24 Balance on the last day of the current business year reporting period (ADP 31 to 50)	51	3,920,000	9,888,641	1,259,454	519,502	519,502	0	0	1,876,704	0	0	0	0	0	9,573,429	2,461,187	28,979,415	0	28,979,415
APPENDIX TO THE STATEMENT OF CHANGES IN EQUITY (to be filled in by undertakings that draw up financial statements in accordance with the IFRS)
I OTHER COMPREHENSIVE INCOME FOR THE CURRENT PERIOD, NET OF TAX (ADP 33 to 41)	52	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
II COMPREHENSIVE INCOME OR LOSS FOR THE CURRENT PERIOD (ADP 32 do 52)	53	0	0	0	0	0	0	0	0	0	0	0	0	0	0	2,461,187	2,461,187	0	2,461,187
III TRANSACTIONS WITH OWNERS IN THE CURRENT PERIOD RECOGNISED DIRECTLY IN EQUITY (ADP 42 to 50)	54	0	-30,168	0	-51,509	-51,509	0	0	0	0	0	0	0	0	-72,613	-461,445	-564,226	0	-564,226

4. Notes 4.1. Notes accompanying Financial Statements - (drawn up for quarterly reporting periods)

Issuer name:	Span d.d
Address:	Koturaška cesta 47, 10000 Zagreb
OIB:	19680551758
MBS:	080192242
Reporting period:	January 1st – June 30th, 2024

Notes to the financial statements for quarterly reporting periods are included in the Unaudited Business Results of Span Group and Span d.d. for the first six months 2024, available on Zagreb Stock Exchange website.

Annual Report of Span Group and Span d.d. for 2023 is available on Span d.d. website.

The accounting policies applied in the preparation of the financial statements for the reporting period are the same as in the most recent annual financial statements.

Span d.d. issued corporate guarantees in the amount of EUR 4,831 thousand (of which EUR 2,771 thousand for affiliated companies).

Average number of Span Group employees in the period from 1.1.2024. to 30.06.2024. was 862. The average number of employees of Span d.d. in the period from 1.1.2024. to 30.06.2024. was 643.

In the observed period, the company Span d.d. capitalized labor costs related to the continued development of internally generated intangible assets. The total amount of employee costs during the period, amounts to EUR 12,887 thousand, out of which EUR 12,840 thousand is directly charged to the costs of the period, while EUR 46 thousand is capitalized. Capitalized cost is broken down into net salaries (EUR 28 thousand), taxes and contributions from salaries (EUR 5 thousand) and contributions to salaries (EUR 14 thousand). In the observed period, Span Group capitalized labor costs related to the continued development of internally generated intangible assets. Total amount personel expensess during the period amounts to EUR 17,587 thousand, of which the amount of EUR 17,541 thousand is directly charged to the expenses of the period, while EUR 46 thousand is capitalized. Capitalized cost is broken down into net salaries (EUR 28 thousand), taxes and contributions from salaries (EUR 5 thousand) and contributions to salaries (EUR 14 thousand).

Deferred tax assets of Span Group as at 31 December 2023 amount to EUR 1,724 thousand, while for Span d.d. it amounts to EUR 1,145 thousand. In Span Group, in the reporting period, deferred tax assets have been decreased by EUR 616 thousand, while in Span d.d. deferred tax assets have been decreased by EUR 300 thousand. Decrease relates to the corporate income tax liability calculated on the result of the reporting period.

Span d.d. in the business year 2023 holds a participating stake in Trilix d.o.o., Zagreb and Bonsai d.o.o., Zagreb. The amount of capital that Span d.d. holds in Trilix d.o.o. amounts to 60%, ie EUR 298 thousand, the amount of total capital and reserves of Trilix d.o.o. amounts to EUR 497 thousand, and the profit in the business year 2023 amounts to EUR 233 thousand. The amount of capital that Span d.d. holds in Bonsai d.o.o. amounts to 70%, or EUR 278 thousand, the amount of total capital and reserves of Bonsai d.o.o. amounts to EUR 396 thousand, and the profit in the business year 2023 amounts to EUR 31 thousand.

Companies where Span d.d. has unlimited liability are: Span d.o.o. Ljubljana, Span IT Ltd. London, Span USA Inc. Chicago, Span LLC Baku, Span GmbH Munich, LLC Span Kiev, SPAN SWISS AG Zurich, SPAN-IT SRL Moldova, Ekobit d.o.o. Zagreb, Span Cyber Security Center d.o.o. Zagreb, GT Tarkvara OU Tallinn and Span LLS Tbilisi.

5. Statement on responsibility for compiling a report in the observed period

Statement

Unaudited financial statements of Span d.d. and Span Group for the period from January 1st to June 30th, 2024, are shown to be fair and truthful in accordance with International Financial Reporting Standards which have been consistently applied in relation to previous years.

All materially significant transactions were accordingly recorded in the accounting records, which were the basis of the financial statements. They give a truthful and complete overview of assets and obligations, the financial position and business activities of the Span d.d. and Span Group.

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Nikola Dujmović President of the Management Board, Span d.d.