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

51.12.2025

span

Contents

1 Management Interim Report – Management Report 5

1.1. Statement by Ana Vukšić, Member of the Management Board, Finance Director 6
1.2. Corporate events 8
1.3. Business events, awards and recognitions 10
1.4. People and community 14

2 Financial Indicators for twelve months of 2025 25

2.1. Operating Revenue, EBITDA and Net Profit of Span Group 26
2.2. Operating Revenue, EBITDA and Net Profit of Span d.d. 27
2.3. Key features of the period – twelve months of 2025 28
2.4. Revenues by segments 31
2.5. Revenues by geographic markets 32
2.6. Balance Sheet 33
2.7. Cash flow 34

3 Financial Statements of Span Group and Span d.d. 37

4 Notes 51
4.1. Notes accompanying Financial Statements (drawn up for quarterly reporting periods) 52
5. Statement on responsibility for compiling a report in the observed period 54

Management Interim Report - Management Report

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1.1. Statement by Ana Vukšić,

Member of the Management Board, Finance Director

I am extremely glad to be able to present the operation results of Span Group for 2025, and the people behind those figures. The past year was an exceptional year and will be remembered as one of the most successful years of Span so far. A record growth of revenue across all segments at the 2-digit level is not random—it resulted from strategic excellence and team work.

As much as 32% of revenue growth in the Software Asset Management and Licensing segment is an outstanding accomplishment and the proof of our strong market presence. This is also supported by the fact that we were awarded Microsoft Partner of the Year 2025 for Croatian, Slovenian and Ukrainian markets. 19% growth in the Infrastructure Services, Cloud & Cyber Security segment shows that there are technical experts and geniuses at Span who do their job exquisitely and highly responsibly. This was one of the most demanding, but also most successful years so far for the Service Center Management and Technical Support team, with the 28% growth of the segment compared to the last year. This combination of the right people and the high level of complexity of work that these people do is exactly what proves Span's internal strength and the ability to go the extra mile. In the Software and Business Solution Development segment, we achieved a 14% growth and we are proud of the successful management of key AI, data, and software projects.

Thanks to all of the above, Span Group achieved EBITDA before one-off items of EUR 13.7 million, i.e. a 38% growth. In 2025,

EBITDA before one-off items at Span d.d. doubled compared to 2024, marking an extraordinary operational achievement.

In 2025, Span further reinforced its international presence and the position of one of the leading providers of advanced IT services. Building on the Group's strategy of growth and geographic expansion across Southern, Central and Eastern Europe and Central Asia, we have established a separate strategic pillar within our organisation for international markets to support ongoing and future growth initiatives.

Alongside our core business, in this dynamic year we did not disregard the ESG segment, which is at the heart of our business. At the end of 2025, we presented the new ESG strategy in which new priority areas of action were defined through an integrated approach to environment, social and governance topics, and we will continue to use technology to make a positive impact on the community.

Looking ahead to 2026, we expect technological advancement to continue revolutionising business models and requirements for IT partners, while central importance should be given to ethical and sustainable solutions that are compliant in terms of governance requirements. In the following period, we will continue to expand to new markets, making Span an internationally relevant actor one step at a time. This ambition leads us, but also compels us to stay focused, responsible and to stick to the strategy that we have set for ourselves.

1.2. Corporate events

1.2.1. Acquisitions and disposals of treasury shares

In accordance with the Share Buy-Back Program, the investment firm Interkapital vrijednosni papiri d.o.o. bought 5,000 Company shares on behalf of, and on account of the Company in November and December of 2025.

The Share Buy-Back Program is implemented with the purpose of the disposal of shares within the ESOP Program of the Company, remuneration of the members of the Management Board, the employees of the Company and affiliated companies, potential acquisition of companies, and for any other purposes that are provided for as such and allowed under the applicable legislation of the Republic of Croatia, in line with the decision of the General Assembly of the Company of 13 June 2022.

Prior to the said acquisitions, the Company owned 5,760 own shares, representing 0.2939% of the share capital¹, and after the said acquisitions, it owns a total of 10,760 own shares, representing 0.5490% of the share capital.

1.2.2. New ESG strategy adopted

In December 2025, Span's Management Board adopted new ESG strategy representing a significant step in our future development and firmly establishing sustainability as a strategic priority of the Company. The strategy is based on the comprehensive double materiality assessment conducted in 2024. It helped us identify what's really important to Span: where we make the biggest impact, where risks emerge and where opportunities that can turn our technology into social force lie.

Adopted on 5 December 2024 at the meeting of the Management Board, and upon prior agreement of the Supervisory Board of Span d.d. (hereinafter: Company).
The Company's share capital amounts to EUR 3,920,000.00 and is split into 1,960,000 common shares with a nominal value of EUR 2.00, under the symbol SPAN-P-A and ISIN symbol: HRERAMIA2007.

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1.3. Business events, awards and recognitions

Supplier of the Year

soan

TOGETHER
WE RUN
STARBUCKS

1.3.1. Span Croatia, Slovenia and Ukraine – winners of 2025 Microsoft Partner of The Year Awards

Span has been named 2025 Microsoft Partner of The Year for Croatian, Slovenian and Ukrainian market. With this award, Microsoft honours the best among its partners for demonstrating excellence in their work and delivering solutions based on Microsoft technologies. It's the first time Span has been recognized as the winner for three countries in the same year.

"This award is another confirmation of Span's technological expertise, and our commitment to delivering solutions tailored to the actual needs of our customers. It is also the result of the continuous trust of our customers and the measurable value of our teams' achievements by applying Microsoft technology into secure and scalable solutions. We are especially honoured that this year we received the Microsoft Partner of The Year Award for our three markets simultaneously, which further strengthens our expertise and international recognition", emphasized Mihaela Trbojević, a member of Span's Management Board responsible for product and service management.

The Microsoft Partner of the Year Awards recognize companies that have developed and delivered solutions and innovations in the area of AI based on Microsoft Cloud technologies. The award is bestowed in several categories, and winners are selected among more than 4,600 nominations from more than 100 countries worldwide. Span Croatia, Slovenia and Ukraine were recognized for providing top-quality services and solutions in their respective countries. Span Croatia has won this prestigious award for the 7th time. The complete list of categories, winners, and finalists can be found at the Partner of the Year Awards link.

1.3.2. Starbucks Supplier of the Year

Span has received Starbucks Supplier of the Year award. The award is based on an internal voting procedure and is awarded to suppliers that achieved extraordinary results in Team Player and Service Owner categories.

While other suppliers were awarded in individual categories, Span has been recognised as a partner that demonstrated each of those qualities by delivering beyond expected and acting as an actual part of the Starbucks team.

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1.5.5. Span earned one new Advanced Microsoft Specialization

In this quarter, we have earned the Calling for Microsoft Teams Advanced Specialization, showcasing our proven success in deploying and managing Microsoft 365 Phone System solutions. Modern voice solutions like Teams Calling enhance security, compliance, mobility, and productivity, and this specialization further validates our expertise in delivering these capabilities.

Span now has a total of 14 Microsoft Advanced Specializations – further strengthening our expertise and reliability in delivering quality solutions to customers, with continued monitoring of technology trends.

1.5.4. Span Cyber Security Arena 2026. Announcement

With the rapid development of technology, the complexity of cyber threats is also increasing, making discussions on high-quality cyber security more relevant than ever.

In its third edition, and with the biggest program so far, Span Cyber Security Arena 2026 continues to gather global experts in this field, and focuses on what truly strengthens our defense against cyber threats through lectures, deep-dive presentations, best practice examples and masterclasses.

Span Cyber Security Arena 2026 will be held in Poreč from May 20 to 22, 2026, at the Valamar Collection Pical Resort 5*.

Keynote speakers are Sami Laiho and Joe Tidy. Sami Laiho is known as one of the world's leading experts in Windows security. Joe Tidy is a BBC reporter specializing in cyber security. He is the author of the book "Ctrl+Alt+Chaos: How Teenage Hackers Hijack the Internet", which explores the dark side of teenage hacker culture.

For the third year in a row, excellent expert Paula Januszkiewicz is attending the conference, while Sami Laiho and Joe Slowik are coming to Croatia for the first time. All three are top experts who, in addition to lectures, will also hold masterclasses where participants will gain practical tools and strategies applicable in real-world environments.

The Arena will also place emphasis on the application of the Cyber Security Act in daily business operations, as well as the challenges and opportunities arising from European certification schemes and other relevant EU policies.

Span Cyber Security Arena 2026 points out that compliance with European security policies and legislation is not just an obligation, but also the foundation of competitiveness, trust, and sustainable business development in the digital age.

1.4. People and community

1.4.1. Priority areas and new ESG objectives defined

Results of the double materiality assessment provided us with a clear framework for action and helped us identify topics in which Span can achieve the biggest positive impact, and mitigate key impacts and risks. In our new ESG strategy, we provide an insight into how we used an integrated approach to environment, social and governance topics to define new priority areas of action.

Environment

Our focus is on reducing the GHG scope 1 and 2 emissions, achieving more energy efficient operations, and gradually transitioning to renewable energy sources.

To achieve this, we particularly strive to develop and optimise cloud solutions, enabling our customers to reduce the energy consumption. We also improve efficiency and enable an indirect reduction of their emissions.

Social

We foster equal rights, fair reward system and career development through training, certifications and internal promotion programmes.

Aware of the challenges of working in a dynamic IT environment, we continuously enhance our well-being programmes, take care of the work-life balance and reinforce our talent management and business continuity systems.

Through partnerships with education institutions, work in the area of digital literacy and inclusiveness of community, we aim to contribute to the society in which we operate.

Governance

Ethics, transparency and responsibility are the basis of our business. We are guiding the further strengthening of anti-corruption policies, legal compliance and more sustainable supplier practices.

Cyber security remains one of the key business areas and an important part of our ESG contribution to the community. Through Span Cyber Security Center, we continue building the resilience, sharing knowledge and providing support, in particular to small and medium-sized enterprises that often lack sufficient resources for quality protection.

We also defined 11 key, measurable objectives that will guide the implementation of our ESG priorities, and their summary is shown below:

Environment

Climate change mitigation & Energy efficiency	Cloud solutions
Reduce absolute Scope 1 and Scope 2 greenhouse gas emissions by 23.9% by September 2020 compared to the 2024 baseline	By 2038, Span will include sustainability considerations related to cloud infrastructure efficiency and emissions reduction in 100% of cloud service proposals and (Sopements of Work (SDWs) for data center)

[Span's core business focus]

Social

Community engagement and digital education	Employee wellbeing and work-life balance	Data privacy
Establishing and maintaining at least 5 partnerships with key educational institutions, enhancing digital competencies and educational opportunities for students	Increase the employee engagement score related to work-life balance from 87.8% to at least 70 % by the end of the next calendar year	Maintain GDPR compliance throughout Span
Change management and employee adaptability	Equal treatment and equal opportunities for all	Carver development and talent retention
To maintain and continuously strengthen management capabilities in leading organisational change, ensuring an average 900' Change Management competency score of at least ≥ 4.00	Maintain or increase the employee engagement score related to fairness, equal opportunities, and inclusion in the climate assessment survey ≤ 90 %	To ensure a minimum annual rate of internal career issues in relation to the average number of employees of 10 %

Governance

Corruption and bribery - Prevention and detection including training	Management of relationships with suppliers including payment practices	Cyber security
Zero-tolerance culture towards corruption and bribery through mandatory training and policy enforcement	Keep < 5% late payment to GHG	Reach a total of 900 beneficiaries of Span's Interactive Cyber Security Course for GHGs by the end of September 2020 (cumulative)

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1.4.2. Organisational Climate Survey: international offices and inclusiveness in focus

We carried out the Organisational Climate Survey of Span Group that covered all the employees, including the colleagues from international offices. Its aim was to get honest feedback from employees on key aspects of the work environment, and to further improve the organisational culture and employee experience.

This year's survey introduced a few important developments, including a new chapter dedicated to inclusiveness, as well as a part

of the survey specifically adapted to international offices aimed at better understanding of their perspective and cooperation with the Head Office.

Results of the survey showed a positive trend, whereby overall employee satisfaction increased by 3.61% compared to previous year, confirming the improvement in the development of work environment and the importance of active involvement of employees in the shaping of organisational culture.

The results obtained will act as a basis for further activities and initiatives aimed at the improvement of satisfaction, engagement and well-being of employees in the whole of Span Group.

1.4.3. Participation in conferences and professional events

In the fourth quarter of 2025, Span worked thoroughly on enhancing the cooperation with the academic community through a number of initiatives and events of educational nature. We actively participated in activities at the Faculty of Engineering in Rijeka, Faculty of Electrical Engineering and Computing in Zagreb, and the Faculty of Organization and Informatics in Varaždin, and we also successfully continued our long-term cooperation with the Technical High School in Zagreb by giving technical lectures.

In addition to cooperation with educational institutions, Span's experts also participated

in various panels and professional events, including Career Days at the University of Applied Sciences in Virovitica, "Workforce Challenges" panel organised by the ESG Academy CEE, and "Volunteering in the Digital Age" panel of the National Volunteering Conference organised by the Croatian Volunteer Development Centre. Moreover, expert lectures were given to students of Software Engineering at Algebra.

By participating in these events, our employees shared their knowledge and experience through lectures, workshops and panel discussions, and at the same time provided support to students by way of awards, career counseling and guidance in terms of future professional opportunities.

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1.4.4. Span Heroes

Through Span Heroes programme, and for the sixth year in a row, Span has continued to recognize and honour employees who embody the core values of the Company with their work and behaviour. For Span Heroes 2025, we further updated the employee recognition system by simplifying the approach and putting a stronger focus on values that have a significant and tangible impact on the way we work every day.

This year, the programme focused on promoting the colleagues that live by Span's values – Ahead of Times, Care and Honesty and Transparency – and positively impact the teams and the organisation at the wider level by their example. The recognition system consisted of two categories: Span Hero, dedicated to employees who continuously show care, integrity and innovation within

their organisational units, and Cross Team Hero, awarded to individuals who actively connect teams, foster cooperation and knowledge sharing within the organisation as a whole. In the last voting phase, employees selected a total of 21 winners, thereby once again highlighting the importance of the culture of recognition, community and mutual respect within Span.

1.4.5. Employee health and well-being in focus

Span continues to carry out initiatives that promote employee health and well-being in the last quarter as well, with the focus on physical and mental health. On World Mental Health Day (10 October), employees had the opportunity to participate in a mental health and well-being webinar, which was aimed at raising awareness on the importance of mental health, recognising

ing the early signs of stress and providing practical strategies for day-to-day support to resilience and overall satisfaction.

In November and December, Span particularly focused on men's health through Movember initiative, with an emphasis on preventive exams and early diagnosis of testicular and prostate diseases. In that period, 120 employees registered for full body check-ups. Some colleagues did a specialist urological examination, while all the interested employees still could schedule a free examination in the polyclinic of choice. In addition to activities aimed at employees, Span further supported the healthcare system by donating resources to the Urology Clinic of the Clinical Hospital Center "Sestre Milosrdnice", financing the training of doctors and nurses. With these initiatives, Span once again confirmed its commitment to promoting employee health,

preventive care and well-being, while fostering positive and engaged work culture at the same time.

1.4.6. Span Christmas Pub Quiz – team spirit and team power

Apart from business activities, the fourth quarter also saw our first Span Christmas Pub Quiz, which gathered more than 180 employees on Span's premises. Participants divided into teams and enjoyed the knowledge quiz that encouraged team and healthy competition in a relaxed, holiday atmosphere.

Span Christmas Pub Quiz proved to be a successful internal initiative that blended together fun, teamwork and holiday spirit, and laid the foundation for similar gatherings in the future.

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1.4.7. The First Audio Book Club held

Span joined the unique Croatian audiobook festival AudioLiber 2025 by participating in the audio book club Book&zvook.

Span's book lovers gathered in a relaxed atmosphere where they discussed a previously selected audiobook available on the Book&zvook app. It was an opportunity for these book enthusiasts to share their opinions about the chosen novel – as well as about audiobooks as an alternative way of enjoying literature.

The Book Club will continue quarterly throughout 2026.

1.4.8. People of Span for the community

During 2025, more than 90% of IT equipment which is no longer used at Span was donated to the institutions whose activity contributes to education, youth development and social inclusion. Donated equipment did no longer meet our internal standards, but is still completely functional, so we found a way to extend its lifecycle and help the community. We thereby also actively reduce waste and promote the reuse of equipment, extending its lifecycle in a sustainable way.

Furthermore, Span contributes to positive changes in society by organising already traditional Christmas humanitarian activity which

was initiated and carried out by our member of the Management Board Mihaela Trbojević, together with Mali zmaj, an association which helps improve the quality of life of children from vulnerable families. Humanitarian blood donation was also organised, attracting more and more new donors each year.

1.4.9. Voluntary contribution and professional engagement

In cooperation with the Volunteers' Center Zagreb, Span organised another volunteering action. After two years dedicated to the furnishing of nursing homes, this year we focused on the youth – we furnished the living room

and hallway of the Trnoružica Nursery School in Zagreb. Through joint work of our employees, we created a more comfortable, warm and stimulating area for children and youth workers, proving that even slight changes can have a great impact on everyday life of the youngest members of the community.

Building on the cooperation with Volunteers' Center Zagreb, we actively participated in the 8th National Employee Volunteering Conference. Sonja Tadić, our ESG and Environmental Protection Team Leader had the opportunity to present Span's volunteering project based on employee skills in cooperation with Krijesnica, an association that provides support to children and families facing malignant diseases. In this project, our colleagues made use of their expert knowledge to help the as-

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sociation optimise its day-to-day processes, and to enable them to devote more time to what's really important – their beneficiaries.

Also, at the panel during "Volunteering in the Digital Age" national conference, Petra Cigoj Debijadi, our Organisational Development Specialist, talked to experts in different fields about how business sector and technology can support quality and sustainable volunteer programmes and active engagement of citizens.

Through initiatives such as volunteer activities based on professional skills, cooperation with educational institutions and raising awareness on cyber security, Span continues to promote responsible use of technology and make a significant social impact.

1.4.10. Cooperation with the Croatian Business Council for Sustainable Development (HRPSOR)

Span continues its active cooperation with the Croatian Business Council for Sustainable Development by participating of the

ESG Department at the 17th Sustainable Development Conference, an event gathering business and public sector leaders, experts, decision-makers and academic community representatives to debate key topics and challenges in the area of sustainable development.

Also, employees of the ESG, Legal, and HR departments participated in HRPSOR's professional workshop on human rights in business environment. The programme included legislation, examples of the most serious human rights violation, and interactive exercises that helped colleagues understand practical challenges the companies may face with.

In the second part of the workshop, the focus was on children's rights and their importance in responsible business. Such trainings help us better understand how technologies and business processes can support higher standards of protection of human rights and ensure a sustainable and ethical company development.

1.4.11. Exchange of experience on sustainable practices

Participating in panels dedicated to sustainable practices helps us share experiences with other organisations, better understand the regulatory requirements, and contributes to the dialogue that promotes a more transparent and responsible business environment. Such approach was further reinforced by participating in panels that covered the key topics in the area of sustainable development.

At the workshop on understanding the key requirements and practices related to reporting in accordance with ESRS standards, Deloitte brought together participants from various industries. Sonja Tadić, our ESG Team Leader, had the opportunity to share her practical experience, challenges and lessons learned in the implementation of European Sustainability Reporting Standards.

Moreover, Ana Vukšić, Member of the Management Board, participated in an ESG networking event organised by the Raiffeisen Bank, and in the ESG Conference "Green

Croatia – Sustainability and Corporate Governance" organised by the Croatian News Agency (HINA). Both events gathered experts from various sectors, with a view to share knowledge, experience and good practices in the implementation of ESG principles in business processes.

1.4.12. Cooperation with URI Soča

At Span, socially responsible business means expanding our presence to areas that connect us in a broader sense. Span Slovenia has recognized this as well and has been connected for years with URI Soča – the University Rehabilitation Institute of the Republic of Slovenia, with special attention given to supporting the hospital's primary school children. Span Slovenia provides assistance in procuring school supplies, organizing cooking workshops, joint celebrations, and summer activities – from summer in Planica to diving with the support of professional divers. These are just some of the areas where personal commitment from employees was needed, and children were given experiences that would be unattainable without physical and material support.

Financial Indicators for twelve months of 2025

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

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

Operating revenue	+29% Net	Operating revenue	+55% Net
230.9 mil. EUR		148.6 mil. EUR
EBITDA before one-off items	+58% Net	EBITDA before one-off items	+109% Net
13.7 mil. EUR		10.6 mil. EUR
EBITDA after one-off items	+47% Net	EBITDA after one-off items	+159% Net
13.5 mil. EUR		10.4 mil. EUR
Net Profit after one-off items	+68% Net	Net Profit after one-off items	+127% Net
5.7 mil. EUR		6.3 mil. EUR

2.3. Key features of the period – twelve months of 2025

Profit and Loss Account – shortened

Span Group

In thousands of EUR	2024	2025	A %	Q4 2024	Q4 2025	A %
Total revenue	180,879	232,225	28%	42,354	51,235	21%
Operating revenue*	179,039	230,861	29%	41,910	50,752	21%
Other revenue	1,840	1,364	-26%	444	683	9%
Total costs	171,685	218,680	27%	40,855	48,777	19%
Costs of goods and services sold*	123,251	164,659	34%	23,991	33,694	30%
Personnel expenses	36,451	43,322	19%	10,308	11,772	14%
Other operating expenses	11,984	10,700	-11%	4,336	3,312	-27%
EBITDA before one-off items	9,951	13,689	38%	1,861	2,458	32%
EBITDA one-off items	757	144	-81%	362	-	-100%
EBITDA after one-off items	9,194	13,544	47%	1,499	2,458	64%
Depreciation and amortization	3,748	4,255	14%	949	1,101	16%
Goodwill impairment losses	-	1,431	-	-	1,431	-
EBIT before one-off items	6,203	9,434	52%	912	1,357	49%
EBIT after one-off items	5,446	7,858	44%	549	1741	-153%
Net financial result	-652	-237	64%	59	(141)	-339%
Shares of profit/loss of associated companies	-1	-90	-7845%	-	(0)	-2243%
Impairment losses on investments in associates	-	260	-	-	260	-
Profit/loss before taxation before one-off items	5,550	9,107	64%	970	1,207	24%
Profit/loss before taxation after one-off items	4,792	7,272	52%	608	(484)	-180%
Corporate tax	1,394	1,365	12%	205	168	-18%
Profit/loss after taxation before one-off items	4,155	7,543	82%	765	1,040	36%
Profit/loss after taxation after one-off items	3,398	5,707	68%	403	(652)	-262%

*Revenue from voucher sales of the subsidiary undertaking that was previously reported in gross amount is now reported in net amount, while revenue and direct expenses are adapted for the previous period without impacting the results of the Company and the Group.

Span d.d.

In thousands of EUR	2024	2025	A %	Q4 2024	Q4 2025	A %
Total revenue	110,568	149,120	35%	27,594	32,517	18%
Operating revenue	110,033	148,617	35%	27,472	32,298	18%
Other revenue	534	503	-6%	122	220	80%
Total costs	106,216	138,703	31%	26,505	30,605	15%
Costs of goods and services sold	68,109	93,180	37%	14,244	18,250	28%
Personnel expenses	28,970	37,100	28%	8,700	9,806	13%
Other operating expenses	9,137	8,423	-8%	3,561	2,549	-28%
EBITDA before one-off items	5,053	10,361	109%	1,451	1,913	32%
EBITDA one-off items	702	144	-79%	362	-	-100%
EBITDA after one-off items	4,351	10,416	139%	1,089	1,913	76%
Depreciation and amortization	2,782	3,438	24%	753	881	17%
Goodwill impairment losses	-	1,431	-	-	1,431	-
EBIT before one-off items	2,271	7,123	214%	697	1,031	48%
EBIT after one-off items	1,569	5,548	254%	335	(399)	-219%
Net financial result	1,547	1,439	-7%	64	781	117%
Shares of profit/loss of associated companies
Impairment losses on investments in associates	-	266	-	-	266	-
Profit/loss before taxation before one-off items	3,818	8,563	124%	762	1,812	138%
Profit/loss before taxation after one-off items	3,116	6,721	116%	400	115	-71%
Corporate tax	360	459	28%	60	(168)	-380%
Profit/loss after taxation before one-off items	3,458	8,103	134%	702	1,980	182%
Profit/loss after taxation after one-off items	2,756	6,262	127%	340	283	-17%

Revenue

Total consolidated revenue increased by EUR 51,346 thousand, or 28% compared to the twelve months of 2024. The operating revenue grew by EUR 51,822 thousand in the same observed period. The highest absolute and relative growth was recorded by the Software Asset Management and Licensing segment. Total revenue growth from IT services with high added value amounted to EUR 10,522 thousand.

In the same period, Span d.d. recorded a growth of total revenue by EUR 38,552 thousand, or 35%. The growth results from operating revenues, which were higher by EUR 38,584 thousand. Revenue growth is the result of growth in all business segments, while the most significant growth was recorded in the Software Asset Management and Licensing segment. In 2025, a bid of the Group of bidders Span d.d. and Combis d.o.o. was selected on a public tender for the use of Microsoft software products and services, followed by the implementation of contract in July. Also, the contract for buy in and technical support renewal of Microsoft licenses was implemented in July, as part of an open procedure for the public procurement of Hrvatska elektroprivreda d.d.

Operating expenses

The total consolidated operating expenses saw an increase by EUR 46,995 thousand, or 27% compared to 2024. The largest generator of the growth of expenses was the cost of goods and services sold, following the revenue growth, while the increase has been further stimulated by the expansion to foreign markets, including incorporation and operational start-up of subsidiaries.

The personnel expenses increased by EUR 6,871 thousand, or 19% compared to 2024. The average number of employees in the Group in twelve months of 2025 was 890, compared to the prior year when the average number of employees in the Group was 859.

Total expenses of Span d.d. increased by EUR 32,487 thousand compared to the same period last year. Cost of goods and services sold increased by EUR 25,071 thousand, while personnel expenses increased by EUR 8,130 thousand, which is mostly due to the merger of the companies Ekobit and Bonsai. The average number of employees in the Company in the observed period was 776, an increase compared to the prior year when the average number of employees in the Company was 698. Increase in the number of employees is a result of Ekobit and Bonsai mergers, and after the merger, the employees continue to work in the segments of services with high added value.

EBITDA

EBITDA of the Group before one-off items increased by EUR 3,738 thousand, or 38% and amounts to EUR 13,689 thousand. One-off items of EBITDA of the Group were EUR 144 thousand and related to: 1) severance pay to a former member of the Management Board 2) adjustment of the last instalment liability related to the acquisition of GT Tarkvara.

EBITDA after one-off items in twelve months of 2025 recorded an increase of 47% compared to the same period of the prior year.

Span d.d. recorded an increase of EBITDA before one-off items of EUR 5,507 thousand, or 109%, amounting to EUR 10,561 thousand. In the observed period, Span d.d. recorded an increase of EBITDA after one-off items of EUR 6,065 thousand, to EUR 10,416 thousand, which was a 139% increase.

The increase of depreciation in the Company is mostly the result of the merger of the company Ekobit, and leasing an additional business premise.

The Group's net financial result of the period amounted to EUR -237 thousand, a result of foreign exchange losses in Span Croatia and interest expense due to bond issuance.

Revenues by segments

Span Group

In thousands of EUR	2024	2025	A %	Q4 2024	Q4 2025	A %
Total operating revenue	179,039	230,861	29%	41,980	50,752	21%
Software Asset Management and Licensing	129,152	170,451	32%	26,839	34,623	29%
Infrastructure Services, Cloud & Cyber Security	16,135	19,128	19%	5,557	4,284	-23%
Service Center Management and Technical Support	19,193	24,628	28%	5,819	6,693	29%
Software and Business Solutions Development*	14,559	16,654	14%	4,346	5,151	19%

revenue from voucher sales of the subsidiary undertaking that was previously reported in gross amount is now reported in net amount, while revenue and direct expenses are adapted for the previous period without impacting the results of the Company and the Group.

Span d.d.

In thousands of EUR	2024	2025	A %	Q4 2024	Q4 2025	A %
Total operating revenue	180,033	148,817	35%	27,472	32,298	18%
Software Asset Management and Licensing	68,376	93,187	40%	14,030	18,179	30%
Infrastructure Services, Cloud & Cyber Security	14,058	18,147	29%	4,724	3,919	-17%
Service Center Management and Technical Support	18,730	23,569	26%	5,087	6,152	21%
Software and Business Solutions Development	10,669	13,713	29%	3,632	4,048	11%

Net profit

Profit after taxation before one-off items of the Group increased by EUR 3,387 thousand, to EUR 7,543 thousand. In the observed period, profit after taxation after one-off items of the Group increased by EUR 2,309 thousand, to EUR 5,707 thousand. One-off items are higher by EUR 1,079 thousand compared to the same period last year.

One-off items of the Group at the level of EBITDA include the severance pay to a former member of the Management Board and the adjustment of the last instalment liability related to the acquisition of GT Tarkvara, in the amount of EUR 144 thousand; at the level of EBIT, they include the expenses stated and goodwill impairment in the amount of EUR 1,431 thousand; while at the level of gross and net profit, they further include impairment of investment in associate Fintech Digital Services d.o.o., in the amount of EUR 260 thousand.

Goodwill arising from the merger of subsidiary Recro-net d.o.o. has been written off based on the estimate of recoverable values, in accordance with the long-term strategic direction and business development priorities of the Company.

Span d.d. recorded a growth of profit after taxation before one-off items by EUR 4,645 thousand, to EUR 8,103 thousand. Span d.d. recorded a growth of profit after taxation after one-off items by EUR 3,506 thousand, to EUR 6,262 thousand. The cost of corporate tax reflected the release of the deferred tax assets for both tax reliefs obtained based on the Investment Promotion Act. More details about the reliefs obtained can be found in the chapter "Deferred tax assets". The Management Board of Span d.d. continuously considers all risks related to the Russian - Ukrainian war and is of opinion that those risks do not jeopardize the financial results of the Group.

Revenues by segments

Span Group 2024

Software Asset Management & Licensing 72.14%
Infrastructure services, Cloud & Cyber Security 9.01%
Service Center Management & Technical Support 10.72%
Software & Business Solution Development 8.13%

Span Group 2025

Software Asset Management & Licensing 73.83%
Infrastructure services, Cloud & Cyber Security 8.29%
Service Center Management & Technical Support 10.67%
Software & Business Solution Development 7.21%

Span d.d. 2024

Software Asset Management & Licensing 69.31%
Infrastructure services, Cloud & Cyber Security 12.78%
Service Center Management & Technical Support 17.02%
Software & Business Solution Development 9.70%

Span d.d. 2025

Software Asset Management & Licensing 62.70%
Infrastructure services, Cloud & Cyber Security 12.21%
Service Center Management & Technical Support 15.86%
Software & Business Solution Development 9.23%

2.4. Revenues by segments

Span Group generated revenue in the following segments:

Software Asset Management and Licensing
Infrastructure Services, Cloud & Cyber Security
Service Center Management and Technical Support
Software and Business Solution Development

Data on revenues by segments of the operation of the Group and Span d.d. for the twelve months of 2024 and 2025 is provided below.

Software Asset Management and Licensing recorded a growth of revenue by 32%. The Group recorded higher revenue compared to the twelve months of 2024. The highest growth was recorded by Span Croatia and Span LLC Ukraine, followed by Span Slovenia

and GT Tarkvara. The share of revenues in the total operating revenues was 74%.

Infrastructure Services, Cloud & Cyber Security increased by 19% in the observed period, compared to the same period of the prior year. Revenue growth in this segment was generated by the realization of strategic investment in this business segment, additionally expanded by the implementation of a major project with one of our key customers in 2025.
Service Center Management and Technical Support contributed to a continuous growth of revenue through the supervision and management of the IT surroundings services, with the increase of revenue of this segment amounting to 28% compared to the same period last year.
Software and Business Solution Development in the observed period grew by 14% compared to the twelve months of the last year.

Revenues by geographic markets

Span Group 2024

Span Group 2025

Span d.d. 2024

Span d.d. 2025

2.5. Revenues by geographic markets

Revenues by geography show the geographic market where goods, or services are invoiced. The share of revenues the Group makes in foreign markets accounts for 74% of the total revenues. The most significant growth of revenue, totalling EUR 13,697 thousand was recorded by the

Croatian market, followed by the Ukrainian (EUR 7,353 thousand) and Slovenian market (EUR 6,429 thousand). In the Ukrainian market, Microsoft for most of its users in Q1 2024 still allowed the use of products free of charge.

Span d.d. achieves 40% of revenue on the Croatian market, which also recorded the highest growth compared to the same period last year.

2.6. Balance Sheet

In thousands of EUR	Span Group		Span d.d.
	31.12.2024	31.12.2025	31.12.2024	31.12.2025
ASSETS	81,177	113,767	61,034	87,434
Fixed assets	23,033	20,246	30,002	30,567
Deferred tax assets	1,158	631	933	623
Current assets	26,028	37,316	17,93	24,594
Cash and cash equivalents	24,368	44,056	8,994	28,705
Prepaid expenses and accrued income	4,590	5,518	3,992	4,945
LIABILITIES	81,177	113,767	61,034	87,434
Equity and reserves	33,853	37,847	29,840	34,624
Long-term liabilities	2,414	30,044	2,377	29,075
Current liabilities	39,334	39,662	23,461	21,620
Accrued expenses and deferred revenue	5,575	6,215	3,356	2,114

Investment in assets

In thousands of EUR	Span Group					Span d.d.
	2024	2025	Q4 2024	Q4 2025	2024	2025	Q4 2024
Computer equipment and other equipment	739	879	227	170	704	713	214
Tangible assets in preparation	23	36	4	7	-	-	-
Right-of-use assets	2,302	4,880	124	3,692	2,223	3,787	99
Other intangible assets	39	58	25	38	3	27	-
Intangible assets in preparation	312	495	-73	273	429	453	-73
Investment in assets total	3,415	6,348	307	4,180	3,359	4,980	240

Assets

The total value of the assets of the Group was higher by EUR 32,590 thousand. The increase of the total assets is mostly the result of the increase of cash and cash equivalents, as well as the increase of accounts receivable.

Investment in assets

Investments of Span Group in tangible assets mostly 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. In the fourth quarter of 2025, the existing lease agreements were extended, thus leading to a remeasurement of lease liabilities and right-to-use assets in accordance with applicable accounting standards. This resulted in an increase of carrying amount of right-to-use assets and corresponding liabilities. Investment in intangible assets in preparation related to the implementation of software for own use, capitalised labour costs relating to the continuation of

development of internally generated intangible assets, and the investment in business premises leased by the Group.

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 profits and the amount of taxable earnings which are likely to be achieved in the future, the Group judges and creates an estimate based on taxable profits from the previous years and the expected future earnings which are considered to be reasonable in 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 support received from the Ministry of Economy, Entrepreneurship and Crafts. Based on the above, deferred tax assets were further recognized, and they amounted to EUR 631 thousand as at 31 December 2025.

The financial support received allows Span d.d. to be exempt from paying corporate income tax from 2021 to 2031, for 50% of the amount of the tax base, up to the maximum threshold in the amount of the total investment according to the Investment Promotion Act (ZOPI).

Equity and reserves

The total equity and reserve of the Group increased by EUR 3,993 thousand. The increase arises from the retained profit and the profit of the current period.

Long-term and short-term liabilities

Total long-term liabilities increased by EUR 27,630 thousand, primarily as a result of bond issuance in the third quarter and the increase of lease liabilities after the remeasurement of lease liabilities, carried out due to the extension of existing lease agreements.

Short-term liabilities increased by EUR 328 thousand, as a result of the increase in liabilities to suppliers.

2.7. Cash flow

The Group recorded positive cash flow from business activities, which is lower compared to the previous year, primarily as a result of an increase in accounts receivable as at 31 December 2025, leading to an increase of tied-up resources in the working capital and consequently lower net inflow from business activity. The Group recorded the current liquidity ratio of 1.89, which points to the ability of the Group to settle its current liabilities.

Negative cash flow from investment activities was mostly the result of the payment of the last instalment for the acquisition of GT Tarkvara.

The positive cash flow from financial activities is the result of bond issuance.

Negative net debt of the Group amounted to EUR 12,704 thousand, and is an indicator of the financial liquidity of the Group.

Current Assets, Current Liabilities and Working Capital
	Span Group			Span d.d.
In thousands of EUR	31.12.2024	31.12.2025	31.12.2024	31.12.2025
Current assets	54,986	86,890	30,099	56,244
Current liabilities	44,910	45,877	28,817	23,734
Working capital	10,077	41,033	1,282	32,510
Current liquidity ratio	1.22	1.09	1.04	2.37
Net debt	Span Group			Span d.d.
---	---	---	---	---
In thousands of EUR	31.12.2024.	31.12.2025.	31.12.2024.	31.12.2025.
Financial debt*	8,299	31,352	8,118	30,334
Cash and cash equivalents	24,368	44,056	8,994	28,705
Net debt	(16,069)	(12,704)	(876)	3,629
Total equity	33,853	37,847	29,840	34,624
Net debt and total equity ratio	-	-	-	10.71

*Long-term and short-term credits and loans, lease liabilities and liabilities for issued securities

Cash flow
	Span Group					Span d.d.
In thousands of EUR	2024.	2025.	Q4 2024.	Q4 2025.	2024.	2025.	Q4 2024.	Q4 2025.
Net cash from operating activities	11,772	6,682	11,549	10,610	3,320	4,071	6,247	5,460
Net cash used in investment activities	-2,943	-3,138	-60	-340	-530	-1,686	-190	-653
Net cash used in financial activities	1,159	16,143	-1,194	-1,428	1,372	15,326	-1,213	-4,001
Net increase / decrease in cash and cash equivalents	9,988	19,687	10,294	8,841	4,162	17,711	4,844	2,111

Financial Statements of
Span Group and Span d.d.

Span Group

Statement of profit or loss for the period 1.1.2025 to 31.12.2025 in EUR, submitter: Span d.d.

Item	Sales period of the previous year			Current period
	SNP code	Cumulative	Quarter	Cumulative	Quarter
1	2	5	4	5	6
I OPERATING INCOME (SNP 800 to 808)	808	886,878,851	42,554,808	252,224,357	31,535,37
I become from sales with undertakings within the Group	082	0	0	0	0
2 Income from sales (article Group)	083	178,038,553	41,981,555	258,868,715	38,732,884
3 Income from the use of own products, goods and services	084	0	0	0	0
4 Other operating income with undertakings within the Group	085	0	0	0	0
5 Other operating income (article the Group)	086	1,848,408	443,745	1,384,012	485,833
II OPERATING EXPENSES (SNP 08-009-021-017-018-019-022-023)	087	172,431,401	41,804,802	224,366,271	31,509,599
1 Changes in inventories of work in progress and finished goods	088	0	0	0	0
2 Material costs (SNP 00 to 02)	089	180,556,082	28,172,781	172,146,292	35,970,831
a) Costs of (use materials and consumables	010	736,486	223,851	547,587	147,447
b) Costs of goods sold	011	103,892,177	24,980,593	102,546,869	32,029,148
c) Other external costs	012	36,082,029	5,642,327	11,276,061	5,793,230
3 Staff costs (SNP 00 to 00)	013	36,146,017	16,948,076	45,531,864	9,273,032
a) Net salaries and wages	014	23,972,458	6,980,158	28,776,004	7,085,378
b) Tax and contributions from salary costs	015	6,971,81	2,443,439	10,587,313	2,784,278
c) Contributions on salaries	016	5,198,056	840,486	3,984,547	1,120,980
4 depreciation	017	3,517,842	843,365	4,222,620	1,011,233
5 Other costs	018	4,385,728	2,075,238	2,978,793	982,561
6 Value adjustments (SNP 020-021)	019	298,452	298,452	1,670,392	1,470,392
a) fixed assets other than financial assets	020	0	0	1,410,832	1,438,852
b) current assets other than financial assets	021	298,452	298,452	238,308	30,560
7 Provisions (SNP 023 to 023)	022	0	0	0	0
a) Provisions for premium, 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 removal 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 (SNP 00 to 040)	030	1,024,085	343,082	1,022,904	480,843
1 Income from investments in holdings (interest of undertakings within the Group	031	0	0	0	0
2 Income from investments in holdings (interest 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	581,846	693,428	692,348	204,872
8 Exchange rate differences and other financial income	038	662,237	243,254	827,725	276,271
9 Unrealized gains (incurred from financial assets	039	0	0	0	0
10 Other financial income	040	0	0	0	0
11 FINANCIAL EXPENSES (SNP 042 to 043)	044	1,076,278	298,786	2,320,229	882,249
1 Interest expenses and similar expenses with undertakings within the Group	045	0	0	0	0
2 Exchange rate differences and other expenses from operations with undertakings within the Group	045	0	0	0	0
3 Interest expenses and similar expenses	046	350,033	99,085	724,308	330,760
4 Exchange rate differences and other expenses	047	1,520,103	19,638	1,137,228	323,609
5 Unrealized losses (expressed from financial assets	048	0	0	0	0
6 Value adjustments of financial assets (net)	047	0	0	280,701	280,701
7 Other financial expenses	049	0	0	0	0
V. WEARER IN PROFIT FROM CORRESPONDENCE ORDER BY VIRTUS OF PARTICIPATING INTERESTS	049	0	0	0	0
---	---	---	---	---	---
VI WEARER IN PROFIT FROM AUDIT VITATION	050	0	0	0	0
VII WEARER IN LOSS OF COMPUTER LIABLES BY VIRTUS OF PARTICIPATING INTEREST	051	1,328	559	89,015	8,141
VIII WEARER IN LOSS OF AUDIT VITATION	052	0	0	0	0
IX TOTAL INCOME (SNP 000-000-040-050)	053	882,983,154	42,769,802	233,603,871	31,768,980
X TOTAL EXPENSES (B) (SNP 007-014-051-052)	054	177,061,780	42,096,037	228,370,181	32,199,809
X ONE-TAL PROFIT (B) (050) (SNP 053-054)	055	4,792,344	807,925	7,271,556	482,000
1 Per tax profit (SNP 053-054)	056	4,792,344	807,925	7,271,556	0
2 Per tax loss (SNP 054-073)	057	0	0	0	482,000
VII INCOME TAX	058	1,384,173	205,241	1,564,024	107,941
VIII PROFIT (B) LONG FOR THE PERIOD (SNP 055-059)	059	3,398,171	482,084	5,786,932	653,858
1 Profit for the period (SNP 055-059)	060	3,398,171	482,084	5,786,932	0
2 Loss for the period (SNP 059-065)	061	0	0	0	802,838
DISTRICTS (D) OPERATIONS to be filled in by undertakings subject to IFRS only with discontinued operations
XIX FINE TAX PROFIT (B) LONG FOR DISCOUNTED OPERATIONS (SNP 063-064)	062	0	0	0	0
1 Per tax profit from discontinued operations	063	0	0	0	0
2 Per tax loss on discontinued operations	064	0	0	0	0
IX INCOME TAX OF DISCOUNTED RE-OPERATIONS	065	0	0	0	0
1 Discontinued operations profit for the period (SNP 062-065)	066	0	0	0	0
2 Discontinued operations loss for the period (SNP 065-062)	067	0	0	0	0
TOTAL OPERATIONS to be filled in only by undertakings subject to IFRS with discontinued operations
XIX FINE TAX PROFIT (B) LONG (SNP 072-082)	068	0	0	0	0
1 Per tax profit (SNP 068)	069	0	0	0	0
2 Per tax loss (SNP 080)	070	0	0	0	0
XIX INCOME TAX (SNP 058-065)	071	0	0	0	0
XIX INCOME TAX LONG FOR THE PERIOD (SNP 060-071)	072	0	0	0	0
1 Profit for the period (SNP 060-071)	073	0	0	0	0
2 Loss for the period (SNP 071-069)	074	0	0	0	0
APPENDIX to the PEL for be filled in by undertakings that draw up consolidated annual financial statements
XIX PROFIT (B) LONG FOR THE PERIOD (SNP 076-077)	075	3,398,072	482,084	5,786,931	653,858
1 Attributable to owners of the parent	076	3,398,072	482,084	5,772,710	657,948
2 Attributable to minority (non-controlling) interest	077	0	0	-50,789	-23,882
FOLLOWING OF OTHER COMPREHENSIVE INCOME (to be filled in by undertakings subject to IFRS)
1 PROFIT (B) LONG FOR THE PERIOD	078	3,398,072	482,084	5,786,932	653,858
10 OTHER COMPREHENSIVE INCOME LONG BEFORE TAX (SNP 08-07)	079	1,380,791	1,383,381	-436,846	75,136
10 Items that will not be reclassified to profit or loss (SNP 080 to 085)	080	1,373,787	1,373,787	0	0
11 Changes in revaluation reserves of fixed tangible and intangible assets	081	1,373,787	1,373,787	0	0
11 Sales or losses from subsequent announcement of equity instruments at fair value through other comprehensive income	082	0	0	0	0
5 Fair value changes of financial liabilities at fair value through statement of profit or loss, attributable to changes in basic credit risk	083	0	0	0	0
4 Unrealized gains (losses on the defined benefit obligation	084	0	0	0	0
3 Other loans 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
15 Items that may be reclassified to profit or loss (SNP 080 to 087)	087	17,604	381,624	-436,846	75,136
1 Exchange rate differences from translation of foreign operations	088	17,604	381,624	-436,846	75,136
2 Sales or losses from subsequent announcement 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 loans 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 (B) LONG (SNP 080-087-088-096)	097	1,380,791	1,383,381	-436,846	75,136
VI COMPREHENSIVE INCOME (B) LONG FOR THE PERIOD (SNP 090-097)	098	1,398,903	1,380,305	5,270,080	727,360
APPENDIX to the Statement on comprehensive income to be filled in by undertakings that draw up consolidated statements
VI COMPREHENSIVE INCOME (B) LONG FOR THE PERIOD (SNP 090-091)	099	4,788,903	1,380,305	5,270,080	727,360
1 Attributable to owners of the parent	100	4,788,903	1,380,305	5,320,865	705,583
2 Attributable to minority (non-controlling) interest	00	0	0	-50,789	-23,882

Span Group
Balance sheet, as of 31.12.2025 in EUR, submitter: Span d.d.

State	ATP code	Last day of the preceding issuance year	At the reporting date of the current period
1	2	3	4
A) RECEIVABLES FOR SURGERIES CAPITAL UNPAID	004	0	0
B) YEEDS ASSETS (ADP 005 - 006 - 028 - 031 - 032)	012	24,106,555	24,877,110
C) OVERHEAL ASSETS (ADP 0014 to 009)	003	14,976,830	15,531,98
1 Research and development	004	1,751,581	1,517,500
2 Conservation, parents, licences, trademarks, sufferers and other rights	005	835,208	794,534
3 Goodwill	006	8,987,138	7,474,314
4 Advances for the purchase of intangible assets	007	0	0
5 Intangible assets in preparation	008	318,722	342,112
6 Other intangible assets	009	3,342,068	3,780,690
E) TAXABLE ASSETS (ADP 011 to 019)	010	9,742,742	11,522,132
1 Land	011	2,339,550	2,500,638
2 Buildings	012	7,087,146	7,504,228
3 Plant and equipment	013	1,000,032	935,134
4 Tools, working inventory and transportation assets	014	1,247,865	1,838,388
5 Biological assets	015	0	0
6 Advances for the purchase of tangible assets	016	0	0
7 Tangible assets in preparation	017	2,974	4,359
8 Other tangible assets	018	0	0
9 Investment property	019	0	0
E) OTHER STRAINING ASSETS (ADP 021 to 029)	020	512,101	518,878
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 Investments 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	46,828
7 Investments in securities	027	0	0
8 Loans, deposits, etc. given	028	52,106	60,587
9 Other investments accounted for using the equity method	029	380,786	30,565
10 Other fixed financial assets	030	0	0
E) RECEIVABLES (ADP 032 to 035)	031	519	1,843,008
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	519	1,843,008
V) REFERRED TAX ASSETS	036	1,577,943	631,254
E) CURRENT ASSETS (ADP 038 - 040 - 053 - 063)	037	20,296,635	16,171,576
C) OVERWHELD (ADP 039 to 045)	038	278,825	287,208
1 Non materials and consumables	039	0	0
2 Work in progress	040	0	0
3 Finished goods	041	0	0
4 Merchandise	042	278,825	287,208
5 Advances for inventories	043	0	0
6 Fixed assets held for sale	044	0	0
7 Biological assets	045	0	0
E) REFERRED TAX ASSETS	046	23,178,243	30,357,446
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	24,300,462	34,800,301
4 Receivables from employees and members of the undertaking	050	0	0
5 Receivables from government and other institutions	051	289,776	1,508,888
6 Other receivables	052	438,905	708,170
E) CURRENT FINANCIAL ASSETS (ADP 054 to 062)	053	778,854	711,154
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 Investments 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	46,368
7 Investments in securities	060	235,972	348,651
8 Loans, deposits, etc. given	061	554,884	532,123
---	---	---	---
9 Other financial assets	062	0	0
E) CURRENT BANK AND INTAKE	063	24,300,299	44,835,700
B) PREPAID EXPENSES AND INTREESING	064	4,583,511	5,518,531
B) TOTAL ASSETS (ADP 068 - 082 - 057 - 064)	065	16,178,081	115,767,108
C) TOTAL ASSETS (ADP 071 - 074)	066	0	0
LIABILITIES
A) CAPITAL AND REDEEDS (ADP 068 to 070 - 075 - 077 - 081 - 086 - 089)	067	32,853,445	37,046,630
1 INITIAL INDEPENDENCE CAPITAL	068	5,928,000	5,920,000
2 CAPITAL REDEEDS	069	9,892,205	8,808,416
B) OTHER EXPENSE PROFIT (ADP 071 - 072 - 073 - 074 - 075)	070	1,437,936	1,315,817
1 Caught over Fee	071	1,457,930	1,315,817
2 Reserves for treasury shares	072	53,069	55,689
3 Treasury shares and holdings (debat (fills from)	073	-53,069	-55,689
4 Statutory reserves	074	0	0
5 Other reserves	075	0	0
C) RETAIL LITERATURES	076	3,150,087	2,362,282
V) CAPITAL LITERATURE AND OTHER (ADP 076 to 082)	077	-220,319	-658,985
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 asset 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 in manufacture	082	-220,319	-658,985
F) RETAINED PROFIT OR LINK BRIEF (ADP 084 - 085)	083	13,565,096	15,463,778
1 Retained profit	084	13,565,096	15,463,778
2 Loss brought forward	085	0	0
G) PROFIT OR LINK BRIEF (REMAINING YEAR (ADP 087 - 088)	086	3,308,172	3,757,730
1 Profit for the business year	087	3,308,172	3,757,730
2 Loss for the business year	088	0	0
TOTAL	100	1,751,581	1,751,581
H) CURRENT ASSETS (ADP 089 to 096)	097	3,308,172	3,757,730
I) Profit for the business year	098	3,308,172	3,757,730
2 Loss for the business year	099	0	0
J) RECEIVABLES (ADP 097 to 098)	099	0	122,202
K) PREPAID EXPENSES (ADP 099 to 100)	099	0	0
1 Provisions for pensions, termination benefits and similar obligations	099	0	0
2 Provisions for tax liabilities	099	0	0
3 Provisions for ongoing legal cases	099	0	0
4 Provisions for renewal of natural resources	099	0	0
5 Provisions for warranty obligations	099	0	0
6 Other pensions	099	0	0
L) LINK TOTAL LIABILITIES (ADP 099 to 100)	097	2,413,079	58,943,731
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	099	0	0
4 Liabilities for loans, deposits etc. of companies linked by virtue of participating interests	099	0	0
5 Liabilities for loans, deposits etc.	099	0	0
6 Liabilities to banks and other financial institutions	099	0	0
7 Liabilities for advance payments	099	0	0
8 Liabilities to suppliers	099	0	0
9 Liabilities for securities	099	0	24,831,800
10 Other long-term liabilities	097	1,578,345	4,827,324
11 Referral tax liability	099	494,635	563,481
B) BRIEF TOTAL LIABILITIES (ADP 099 to 113)	099	39,534,886	39,682,022
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	101	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.	101	0	0
6 Liabilities to banks and other financial institutions	101	5,522,204	238,801
7 Liabilities for advance payments	101	688,546	872,444
8 Liabilities to suppliers	107	22,080,070	28,147,502
9 Liabilities for securities	108	0	437,238
10 Liabilities to employees	109	2,040,365	2,368,485
11 Taxes, contributions and similar liabilities	109	3,455,543	6,890,151
12 Liabilities arising from the share in the result	111	0	0
13 Liabilities arising from fixed assets held for sale	112	0	0
14 Other short-term liabilities	113	3,032,739	3,476,625
E) ATTENTION FOR REFERRED INCOME	114	5,571,438	6,214,808
F) TOTAL LIABILITIES (ADP 007 - 008 - 007 - 009 - 011)	115	8,170,800	115,767,108
G) BIVILLE VOLUME (ADP 012 - 013)	116	0	0

Span Group

Statement of cash flows - indirect method for the period 1.1.2025 to 31.12.2025 in EUR, submitter: Span d.d.

Item	AOP code	Same period of the previous year	Current period
1	2	3	4
Cash flow from operating activities
1 Pre-tax profit	001	4,792,344	7,271,554
2 Adjustments (ADP 003 to 010):	002	3,342,228	6,307,529
a) Depreciation	003	3,747,941	4,255,022
b) Gains and losses from sale and value adjustment of fixed tangible and intangible assets	004	-7,049	71,418
c) Gains and losses from sale and unrealised gains and losses and value adjustment of financial assets	005	301,088	2,020,398
d) Interest and dividend income	006	-361,846	-695,349
e) Interest expenses	007	350,076	724,308
f) Provisions	008	0	0
g) Exchange rate differences (unrealised)	009	43,146	-416,632
h) Other adjustments for non-cash transactions and unrealised gains and losses	010	-731,128	348,364
I Cash flow increase or decrease before changes in working capital (ADP 001-002)	011	8,134,572	13,579,083
3 Changes in the working capital (ADP 013 to 016)	012	4,593,303	-5,491,751
a) Increase or decrease in short-term liabilities	013	3,872,734	7,235,159
b) Increase or decrease in short-term receivables	014	2,125,936	-12,429,626
c) Increase or decrease in inventories	015	-3,888	-8,613
d) Other increase or decrease in working capital	016	-1,401,479	-288,671
II Cash from operations (ADP 011-012)	017	12,727,875	8,087,332
4 Interest paid	018	-333,623	-289,435
5 Income tax paid	019	-622,319	-1,116,162
A) NET CASH FLOW FROM OPERATING ACTIVITIES (ADP 017 to 019)	020	11,771,933	6,681,735
Cash flow from investment activities
I Cash receipts from sales of fixed tangible and intangible assets	021	33,968	70,650
2 Cash receipts from sales of financial instruments	022	0	0
3 Interest received	023	361,846	695,349
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	395,814	765,999
I Cash payments for the purchase of fixed tangible and intangible assets	028	-1,110,550	-1,467,105
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	-2,227,855	-2,316,432
5 Other cash payments from investment activities	032	0	-120,000
IV Total cash payments from investment activities (ADP 028 to 032)	033	-3,338,405	-3,903,537
B) NET CASH FLOW FROM INVESTMENT ACTIVITIES (ADP 027-033)	034	-2,942,591	-3,137,538
Cash flow from financing activities
I 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	24,651,000
3 Cash receipts from credit principals, loans and other borrowings	037	10,999,000	6,501,000
4 Other cash receipts from financing activities	038	127,592	0
V Total cash receipts from financing activities (ADP 035 to 038)	039	11,126,592	31,152,000
I Cash payments for the repayment of credit principals, loans and other borrowings and debt financial instruments	040	-7,600,000	-11,750,000
2 Cash payments for dividends	041	-585,566	-1,564,299
3 Cash payments for finance lease	042	0	0
4 Cash payments for the redemption of treasury shares and decrease in initial (subscribed) capital	043	-300,779	0
5 Other cash payments from financing activities	044	-1,480,785	-1,694,488
VI Total cash payments from financing activities (ADP 040 to 044)	045	-9,967,130	-15,008,787
C) NET CASH FLOW FROM FINANCING ACTIVITIES (ADP 039-045)	046	1,159,462	16,143,213
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	9,988,804	19,687,410
E) CASH AND CASH EQUIVALENTS AT THE BEGINNING OF THE PERIOD	049	14,379,495	24,368,299
F) CASH AND CASH EQUIVALENTS AT THE END OF THE PERIOD (ADP 048-049)	050	24,368,299	44,055,709

Span Group

Statement of changes in equity for the period from 1.1.2025 to 31.12.2025, in EUR

Rank	SUP rank	Initial index of SUP, explicit	Explicit sentence	Legal concerns	Reserves for research objects	Treasury objects and buildings related (RIS form)	Statutory concerns	Other concerns	Revaluation concerns	Fair value of financial assets through other comprehensive income in soluble income	Cash flow under effective portion	Hedge of a net investment in a foreign operation - effective portion	Other fair value - reserves	Exchange rate differences from regulations of foreign operations	Returned profit from brought forward	Profit from further business year	Total attributable to issuance of this parson	Property, time and subsign interest	Total capital and reserves
1	2	3	4	5	6	7	8	9	10	11	12	13	14	15	16	17	18 (1 to € - 7 - 6 to 17)	19	20 (10-16)
Previous period
1 Balance on the first day of the previous business year	10	3,503,000	9,046,808	1,377,000	624,100	624,300	0	0	1,656,764	0	0	0	0	-237,143	12,103,550	1,144,103	30,003,200	336,800	30,422,808
2 Changes in accounting policies	62	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
3 Conversion of errors	63	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) (SUP 01 to 03)	64	3,926,000	9,046,808	1,377,000	624,100	624,300	0	0	1,656,764	0	0	0	0	-237,143	12,103,550	1,144,103	30,003,200	336,800	30,422,808
5 Profit loss of the period	65	0	0	0	0	0	0	0	0	0	0	0	0	0	0	3,598,172	5,598,172	0	3,598,172
6 Exchange rate differences from translation of foreign operations	66	0	0	0	0	0	0	0	0	0	0	0	0	17,604	0	0	17,604	0	17,604
7 Changes in revaluation reserves followed in public and intangible assets	67	0	0	0	0	0	0	0	4,533,302	0	0	0	0	0	120,405	0	1,374,787	0	1,573,787
8 Eates or losses from subsequent measurement of financial assets at fair value through other comprehensive income in soluble income	68	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
9 Eates or loss arising from effective cash flow hedge	69	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	70	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
11 Bases in other comprehensive income loss of companies linked by virtue of participating interests	71	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	72	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
13 Other changes in equity concluded in issuers	73	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
14 Tax on transactions recognized directly in equity	74	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
15 Revenues in initial index of both capital either than arising from the pre-bankruptcy settlement procedure or from the reinvestment of profit	75	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
16 Revenues in initial index of both capital arising from the pre-bankruptcy settlement procedure	76	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
17 Revenues in initial index of both capital arising from the reinvestment of profit	77	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
18 Redemption of treasury shares holdings	78	0	0	0	335,250	335,251	0	0	0	0	0	0	0	0	0	0	0	0	0
19 Payments from members shareholders	79	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
20 Payment of shares in profit dividend	80	0	0	0	0	0	0	0	0	0	0	0	0	0	124,122	446,445	502,587	0	-502,587
21 Other distributions and payments to members shareholders	81	0	1,116,693	84,932	-804,242	-684,242	0	0	0	0	0	0	0	582,631	0	-472,160	306,600	-772,650
22 Transfer to reserves according to the annual schedule	82	0	0	0	0	0	0	0	0	0	0	0	0	663,738	663,738	0	0	0
23 Increase in reserves arising from the pre-bankruptcy settlement procedure	83	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 (SUP 01 to 17)	84	3,900,000	8,802,305	1,137,000	53,689	53,689	0	0	3,196,808	0	0	0	0	-326,139	13,383,080	5,398,172	35,853,444	0	53,683,444
APPEARIETY OF THE 17.1.2025 OF THE PREVIOUS 12.1.2025 (to be filled in by undertaking that draw up financial statements in accordance with the IFRS)
1 OTHER COMPREHENSIVE DOORS OF THE PREVIOUS FORM: SUP 18 TAX (SUP 01 to 14)	25	0	0	0	0	0	0	0	1,253,302	0	0	0	0	17,604	120,405	0	1,398,736	0	1,598,736
B COMPREHENSIVE DOORS OF LESS PREVIOUS FORM: SUP 15 TAX (SUP 01 to 14)	26	0	0	0	0	0	0	0	1,555,302	0	0	0	0	17,604	120,405	5,398,172	4,788,803	0	4,788,803
B TRADE ACTIVITIES FOR INVESTING IN THE PREVIOUS FORM: SUP 18 INVESTIGATIVE (SUP 15 TAX)	27	0	1,116,693	84,932	-571,001	-571,001	0	0	0	0	0	0	0	0	1,144,227	4,144,163	-2,050,727	-306,600	-1,550,417
Current period
1 Balance on the first day of the current business year	20	3,926,000	8,802,305	1,457,000	53,689	53,689	0	0	3,196,808	0	0	0	0	-220,139	13,383,080	5,398,172	35,853,444	0	53,683,444
2 Changes in accounting policies	29	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
3 Conversion of errors	30	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) (SUP 28 to 30)	31	3,926,000	8,802,305	1,457,000	53,689	53,689	0	0	3,196,808	0	0	0	-220,139	13,383,080	5,398,172	35,853,444	0	53,683,444
5 Profit loss of the period	32	0	0	0	0	0	0	0	0	0	0	0	0	0	3,717,730	3,717,730	-16,798	3,700,178
6 Exchange rate differences from translation of foreign operations	33	0	0	0	0	0	0	0	0	0	0	0	0	403,640	0	0	-103,640	0	-103,640
7 Changes in revaluation reserves of fixed tangible and intangible assets	34	0	0	0	0	0	0	0	227,805	0	0	0	0	227,805	0	0	0	0
8 Eates or losses from subsequent measurement of financial assets at fair value through other comprehensive income in soluble income	35	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
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
11 Bases 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
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
13 Non-reisure from recognized directly in equity	40	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
14 Tax on transactions recognized directly in equity	41	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
15 Revenues in initial index of both capital and net loan raising from the pre-bankruptcy settlement procedure	42	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
16 Revenue in initial index of both 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
17 Revenues in initial index of both 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
18 Redemption of treasury shares holdings	45	0	0	0	776,450	776,450	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
20 Payment of shares in profit dividend	47	0	0	0	0	0	0	0	0	0	0	0	0	4,364,399	0	4,364,399	0	4,364,399
21 Other distributions and payments to members shareholders	48	0	80,211	242,303	776,450	776,450	0	0	0	0	0	0	0	246,401	0	84,308	203,062	287,401
22 Carry forward per annual phase	49	0	0	0	0	0	0	0	0	0	0	0	0	3,398,172	5,398,172	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
24 Balance on the last day of the current business year reporting period (SUP 01 to 10)	51	3,926,000	8,889,446	1,357,637	53,689	53,689	0	0	2,902,201	0	0	0	656,965	15,667,259	5,717,730	37,694,537	152,203	37,666,659

Span d.d.
Statement of profit or loss for the period 1.1.2025 to 31.12.2025 in EUR, submitter: Span d.d.

Item	Sales period of the previous year			Current period
	SAP costs	Cumulative	Quarter	Cumulative	Quarter
1	2	5	4	5	6
I OPERATING INCOME (SAP 000 to 006)	001	181,587,540	27,593,908	160,951,808	32,327,260
I become from sales with undertakings within the Group	002	19,870,220	3,513,925	21,304,025	4,298,040
2 become from sales (outside Group)	003	90,354,059	23,758,375	124,034,090	27,090,279
3 become from the use of own products, goods and services	004	0	0	0	0
4 Other operating income with undertakings within the Group	005	196,459	35,149	62,590	58,359
5 Other operating income (outside the Group)	006	457,897	180,738	430,195	195,354
II OPERATING EXPENSES (SAP 00-000-013-017-018-019-022-023)	007	890,996,581	27,736,701	162,715,360	32,916,940
I Changes in inventories of work in progress and finished goods	008	0	0	0	0
2 Material costs (SAP 000 to 012)	009	73,736,325	16,073,503	99,261,945	20,064,850
a) Costs of raw materials and consumables	010	490,725	183,587	478,311	52,705
b) Costs of goods sold	011	65,230,364	15,316,092	88,533,203	16,902,237
c) Other external costs	012	10,042,236	2,853,924	10,303,542	2,955,628
3 Staff costs (SAP 004 to 016)	013	20,909,922	8,099,022	37,084,645	9,060,348
a) Net salaries and wages	014	10,818,841	3,025,108	23,346,402	6,276,248
b) Tax and contributions from salary costs	015	8,165,595	2,399,932	9,934,434	2,549,478
c) Contributions on salaries	016	2,590,086	777,934	3,602,091	976,824
4 Depreciation	017	2,781,106	753,328	3,437,358	106,256
5 Other costs	018	5,436,863	4,783,293	2,234,680	697,652
6 Value adjustments (SAP 020-022)	019	28,775	28,775	1,467,943	1,467,943
a) Fixed assets other than financial assets	020	0	0	1,410,602	1,410,602
b) current assets other than financial assets	021	28,775	28,775	30,236	38,231
7 Previsions (SAP 023 to 023)	022	0	0	0	0
a) Previsions for pensions, termination benefits and similar obligations	023	0	0	0	0
b) Previsions for tax liabilities	024	0	0	0	0
c) Previsions for ongoing legal cases	025	0	0	0	0
d) Previsions for removal of natural resources	026	0	0	0	0
e) Previsions for warranty obligations	027	0	0	0	0
5 Other premiums	028	0	0	0	0
8 Other operating expenses	029	0	0	0	0
III FINANCIAL INCOME (SAP 031 to 043)	030	2,348,047	234,989	3,306,108	1,766,892
I become from investments in holding/obtain of undertakings within the Group	031	1,653,608	0	2,206,933	994,933
2 become from investments in holding/obtain of companies linked by virtue of participating interests	032	0	0	0	0
3 become 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	2,348	0	0,851	8,441
6 become from other long-term financial investments and loans	036	0	0	0	0
7 Other interest income	037	112,502	39,890	325,121	520,282
8 Exchange rate differences and other financial income	038	383,393	105,800	442,044	208,337
9 Unrealized gains (income) from financial assets	039	0	0	0	0
10 Other financial income	040	0	0	0,908	8,083
11 FINANCIAL EXPENSES (SAP 042 to 045)	041	160,248	274,641	1,535,715	102,875
11 Interest expenses and similar expenses with undertakings within the Group	042	0	0	0	0
12 Exchange rate differences and other expenses from operations with undertakings within the Group	043	10,044	0	32,554	38,920
13 Interest expenses and similar expenses	044	167,801	94,958	747,720	383,808
4 Exchange rate differences and other expenses	045	222,372	75,838	887,277	274,408
5 Unrealized losses (exposure) from financial assets	046	0	0	0	0
6 Value adjustments of financial assets (net)	047	0	0	280,375	206,375
7 Other financial expenses	048	29,931	0	0	0
Y SHARE IN PROFIT FROM UNDERTAKINGS LOWER BY UNITES OF PARTICIPATING ESTIMENTS	049	0	0	0	0
VI SHARE IN PROFIT FROM ABOUT SIXTEBRE	050	0	0	0	0
---	---	---	---	---	---
VII SHARE IN LONG OF COMPLIANT LENGTH BY UNITES OF PARTICIPATING ESTIMENT	051	0	0	0	0
VIII SHARE IN LONG OF JOINT VENTIBRE	052	0	0	0	0
IX TOTAL INCOME (SAP 000-000-040-050)	053	162,741,387	27,089,775	153,293,454	33,903,933
X TOTAL EXPENSES (SAP 000-000-051-052)	054	199,590,620	27,423,239	145,585,285	30,740,312
XI FRE TAX PROFIT OR LONG (SAP 023-034)	055	3,161,300	590,536	6,721,119	115,178
1 Pre-tax profit (SAP 055-054)	056	3,151,300	590,536	6,721,119	115,178
2 Pre-tax loss (SAP 054-053)	057	0	0	0	0
XII INCOME TAX	058	350,000	50,183	431,458	487,834
XIII PROFIT OR LONG FOR THE PERIOD (SAP 055-055)	059	2,734,428	500,623	6,201,671	200,214
I Profit for the period (SAP 055-058)	060	2,736,628	500,623	6,201,671	200,214
2 Loss for the period (SAP 059-055)	061	0	0	0	0
IMPORTING IN OPERATIONS (to be filled in by undertakings subject to FIFO only with discontinued operations)
XIV FRE TAX PROFIT OR LONG OF INNOVATION TO OPERATIONS (SAP 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 INNOVATION TO OPERATIONS	065	0	0	0	0
1 Discontinued operations profit for the period (SAP 062-065)	066	0	0	0	0
2 Discontinued operations loss for the period (SAP 065-062)	067	0	0	0	0
TOTAL OPERATIONS (to be filled in only by undertakings subject to IFIO with discontinued operations)
XVI FRE TAX PROFIT OR LONG (SAP 075-082)	068	0	0	0	0
1 Pre-tax profit (SAP 068)	069	0	0	0	0
2 Pre-tax loss (SAP 080)	070	0	0	0	0
XVII INCOME TAX (SAP 059-065)	071	0	0	0	0
XVIII PROFIT OR LONG FOR THE PERIOD (SAP 060-071)	072	0	0	0	0
I Profit for the period (SAP 060-071)	073	0	0	0	0
2 Loss for the period (SAP 071-060)	074	0	0	0	0
APPENDIX to the FILS (to be filled in by undertakings that draw up consolidated annual financial statement)
XXI PROFIT OR LONG FOR THE PERIOD (SAP 076-077)	075	0	0	0	0
1 Attributable to owners of the parent	076	0	0	0	0
2 Attributable to minority laws controlling interest	077	0	0	0	0
STATEMENT OF OTHER COMPREHENTS INCOME (to be filled in by undertakings subject to IFIO)
I PROFIT OR LONG FOR THE PERIOD	078	2,736,628	500,623	6,201,671	200,214
II OTHER COMPREHENTS INCOME LONG BEFORE TAX (SAP 00-07)	079	1,372,787	1,372,787	0	0
III Items that will not be reclassified to profit or loss (SAP 003 to 005)	080	1,372,787	1,372,787	0	0
I Changes in revaluation reserves of fixed tangible and intangible assets	081	1,372,787	1,372,787	0	0
II Gains or losses from subsequent announcement of equity instruments at fair value through other comprehensive income	082	0	0	0	0
V Fair value changes of financial liabilities of 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 (SAP 088 to 095)	087	0	0	0	0
I Exchange rate differences from translation of foreign operations	088	0	0	0	0
2 Gains or losses from subsequent announcement 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 FAT OTHER COMPREHENSIVE INCOME OR LONG (SAP 080-087-000-096)	097	1,372,787	1,372,787	0	0
VI COMPREHENSIVE INCOME OR LONG FOR THE PERIOD (SAP 070-087)	098	1,370,865	1,371,145	6,201,671	200,214
APPENDIX to the Statement on comprehensive income (to be filled in by undertakings that draw up consolidated statements)
VI COMPREHENSIVE INCOME OR LONG FOR THE PERIOD (SAP 010-011)	099	0	0	0	0
1 Attributable to owners of the parent	100	0	0	0	0
2 Attributable to minority laws controlling interest	101	0	0	0	0

Span d.d.
Balance sheet, as of 31.12.2025 in EUR, submitter: Span d.d.

State	ATP code	Last day of the preceding balance year	At the reporting date of the current period
1	2	3	4
A) RECEIVABLES FOR SUBSCRIBED CAPITAL UNPAID	006	0	0
B) YEEDS AND IN (ADP 0015-0061-0220-0701-0058)	002	36,955,136	34,808,448
1 INVESTABLE ASSETS (ADP 0014-0008)	003	7,896,408	5,858,965
1 Research and development	004	1742,590	1,315,800
2 Conservation, parents, licences, trademarks, software and other rights	005	794,165	803,074
3 Goodwill	006	3,902,203	2,472,560
4 Advances for the purchase of intangible assets	007	0	0
5 Intangible assets in preparation	008	161,562	132,358
6 Other intangible assets	009	1,315,539	1,515,531
II TAXABLE ASSETS (ADP 011-0008)	010	9,309,469	8,278,521
1 Land	011	3,339,500	2,500,638
2 Buildings	012	4,835,815	4,202,153
3 Plant and equipment	013	1,015,437	808,378
4 Tools, working inventory and transportation assets	014	1,138,389	1,617,312
5 Biological assets	015	0	0
6 Advances for the purchase of tangible assets	016	0	0
7 Tangible assets in preparation	017	0	0
8 Other tangible assets	018	0	0
9 Investment property	019	0	0
III FIBER FINANCIAL ASSETS (ADP 021-0008)	020	12,751,862	11,317,383
1 Investments in holdings (shares) of undertakings within the Group	021	12,446,787	11,101,802
2 Investments in other securities of undertakings within the Group	022	0	0
3 Loans, deposits, etc. to undertakings within the Group	023	0	214,707
4. Investments in holdings (shares) of companies linked by virtue of participating interests	024	580,215	631,000
5 Investments 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	46,828
7 Investments in securities	027	0	0
8 Loans, deposits, etc. given	028	44,089	82,248
9 Other investments accounted for using the equity method	029	0	0
10 Other fixed financial assets	030	0	0
II RECEIVABLES (ADP 031-0002)	031	569	608
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	569	608
V REFERRED TAX ASSETS	036	553,160	622,951
VI CURRENT ASSETS (ADP 036-0041-0021-0002)	037	28,106,846	26,299,643
1 INVESTABLES (ADP 039-0041)	038	278,790	284,228
1 Non materials and consumables	039	0	0
2 Work in progress	040	0	0
3 Finished goods	041	0	0
4 Merchandise	042	278,790	284,228
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 047-0033)	046	16,701,865	23,682,274
1 Receivables from undertakings within the Group	047	627,543	621,000
2 Receivables from companies linked by virtue of participating interests	048	0	0
3 Customer receivables	049	15,617,862	22,943,296
4 Receivables from employees and members of the undertaking	050	0	0
5 Receivables from government and other institutions	051	167,578	185,259
6 Other receivables	052	280,566	219,541
III CURRENT FINANCIAL ASSETS (ADP 051-002)	053	154,150	1,342,891
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	111,303	1,303,317
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	46,988
7 Investments in securities	060	21,076	22,976
8 Loans, deposits, etc. given	061	0	0
---	---	---	---
9 Other financial assets	062	0	0
IV CASH AT RANK AND IN RANK	063	8,994,832	20,784,030
E (PREPAID EXPENSES AND ADJUSTEDS)	064	3,301,614	4,845,527
E) TOTAL ASSETS (ADP 066-002-057-064)	065	41,633,906	87,433,801
006 BALANCE BREET ITEMS	066	0	0
LIABILITIES
A) CAPITAL AND BENEFITS (ADP 068-0064-070-070-077-083-090-099)	067	29,840,432	34,624,832
1 INITIAL INDEPENDENCE CAPITAL	068	3,928,000	5,920,000
2 CAPITAL BENEFITS	069	9,005,744	9,801,054
B) BENEFITS FROM PROFIT (ADP 071-072-073-074-075)	070	1,599,185	1,138,793
1 Cargill reserves	071	1,589,185	1,138,793
2 Reserves for treasury shares	072	0	0
3 Treasury shares and holdings (debat (fills from)	073	0	0
4 Statutory reserves	074	0	0
5 Other reserves	075	0	0
II RETAILS FROM BENEFITS	076	3,158,087	2,902,282
V FAR CALCULATIONS	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 asset 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 from other tax	082	0	0
VI RETIUNES PROFIT OR LINK BREED OUT FOR SAID (ADP 084-005)	083	8,020,467	8,312,154
1 Retained profit	084	9,059,407	8,312,154
2 Loss/insight forward	085	0	0
VII PROFIT OR LINK BREED IN REVENUE (YAS (ADP 007-006)	086	2,758,029	6,201,839
1 Profit for the business year	087	2,758,029	6,201,839
2 Loss for the business year	088	0	0
VIII INFORCITS (NON-EXPENSES) IN THESE STAT	089	0	0
B) PROVISIONS (ADP 091-009)	090	0	0
1 Provision for premium, termination benefits and similar obligations	091	0	0
2 Provision for tax liabilities	092	0	0
3 Provision for ongoing legal cases	093	0	0
4 Provision for renewal of natural resources	094	0	0
5 Provision for warranty obligations	095	0	0
6 Other provisions	096	0	0
C) LINK TERM LIABILITIES (ADP 090-009)	097	2,376,873	29,075,461
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	090	0	0
4 Liabilities for loans, deposits etc. of companies linked by virtue of participating interests	091	0	0
5 Liabilities for loans, deposits etc.	102	0	0
6 Liabilities to banks and other financial institutions	103	0	0
7 Liabilities for advance payments	104	0	0
8 Liabilities to suppliers	105	0	0
9 Liabilities for securities	106	0	24,831,800
10 Other long-term liabilities	107	1,543,048	3,802,201
11 Referral tax liability	108	814,621	782,580
B) BRIEF ITEMS LIABILITIES (ADP 100-002)	109	25,461,038	21,023,440
1 Liabilities to undertakings within the Group	101	59,451	5,130,262
2 Liabilities for loans, deposits, etc. of undertakings within the Group	111	0	11,833
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	5,522,204	238,801
7 Liabilities for advance payments	116	391,848	200,080
8 Liabilities to suppliers	117	11,173,708	18,065,680
9 Liabilities for securities	118	0	437,338
10 Liabilities to employees	119	1,676,942	1,537,174
11 Taxes, contributions and similar liabilities	120	1,665,443	2,580,983
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	3,948,742	2,438,721
E) ACTRICALS AND REFINEDS INCOME	124	3,555,843	2,102,800
F) TOTAL - LIABILITIES (ADP 007-008-097-099-123)	125	41,831,906	87,433,817
G) 001-BALANCE BREET ITEMS	126	0	0

Span d.d.
Statement of cash flows - indirect method for the period 1.1.2025 to 31.12.2025 in EUR, submitter: Span d.d.

Item	AOP code	Same period of the previous year	Current period
1	2	3	4
Cash flow from operating activities
1 Pre-tax profit	001	3,115,961	6,721,128
2 Adjustments (ADP 003 to 010):	002	1,824,227	3,506,317
a) Depreciation	003	2,782,496	3,437,559
b) Gains and losses from sale and value adjustment of fixed tangible and intangible assets	004	-25,937	62,428
c) Gains and losses from sale and unrealised gains and losses and value adjustment of financial assets	005	58,426	1,733,738
d) Interest and dividend income	006	-1,762,502	-2,622,114
e) Interest expenses	007	347,801	747,529
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	423,943	147,177
I Cash flow increase or decrease before changes in working capital (ADP 001-002)	011	4,940,188	10,227,445
3 Changes in the working capital (ADP 013 to 016)	012	-1,023,386	-5,609,529
a) Increase or decrease in short-term liabilities	013	1,939,816	2,970,068
b) Increase or decrease in short-term receivables	014	-1,043,748	-6,376,511
c) Increase or decrease in inventories	015	-15,296	-7,438
d) Other increase or decrease in working capital	016	-1,904,158	-2,195,648
II Cash from operations (ADP 011-012)	017	3,916,802	4,617,916
4 Interest paid	018	-331,347	-299,623
5 Income tax paid	019	-265,592	-247,277
A) NET CASH FLOW FROM OPERATING ACTIVITIES (ADP 017 to 019)	020	3,319,863	4,071,016
Cash flow from investment activities
I Cash receipts from sales of fixed tangible and intangible assets	021	33,968	70,650
2 Cash receipts from sales of financial instruments	022	0	0
3 Interest received	023	112,502	325,121
4 Dividends received	024	1,650,000	2,296,993
5 Cash receipts from repayment of loans and deposits	025	0	0
6 Other cash receipts from investment activities	026	1,272,054	0
III Total cash receipts from investment activities (ADP 021 to 026)	027	3,068,524	2,692,764
I Cash payments for the purchase of fixed tangible and intangible assets	028	-1,136,487	-1,192,469
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	-2,461,799	-3,066,727
5 Other cash payments from investment activities	032	0	-120,000
IV Total cash payments from investment activities (ADP 028 to 032)	033	-3,598,286	-4,379,196
B) NET CASH FLOW FROM INVESTMENT ACTIVITIES (ADP 027 - 033)	034	-529,762	-1,686,432
Cash flow from financing activities
I 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	24,651,000
3 Cash receipts from credit principals, loans and other borrowings	037	13,449,000	8,440,221
4 Other cash receipts from financing activities	038	155,317	0
V Total cash receipts from financing activities (ADP 035 to 038)	039	13,604,317	33,091,221
I Cash payments for the repayment of credit principals, loans and other borrowings and debt financial instruments	040	-10,157,004	-14,761,017
2 Cash payments for dividends	041	-585,567	-1,564,299
3 Cash payments for finance lease	042	0	0
4 Cash payments for the redemption of treasury shares and decrease in initial (subscribed) capital	043	-300,779	0
5 Other cash payments from financing activities	044	-1,189,344	-1,439,872
VI Total cash payments from financing activities (ADP 040 to 044)	045	-12,232,694	-17,765,188
C) NET CASH FLOW FROM FINANCING ACTIVITIES (ADP 039 - 045)	046	1,371,623	15,326,033
I 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	4,161,724	17,710,617
E) CASH AND CASH EQUIVALENTS AT THE BEGINNING OF THE PERIOD	049	4,832,308	8,994,032
F) CASH AND CASH EQUIVALENTS AT THE END OF THE PERIOD (ADP 048-049)	050	8,994,032	26,704,649

Span d.d.

Statement of changes in equity for the period from 1.1.2025 to 31.12.2025, in EUR

Item	Attributable to owners of the parent
SOP code	Initial (index/short) capital
1	2
Previous period
1Balance on the first day of the previous business year	10
2 Changes in accounting policies	02
3 Conversion of errors	03
4 Balance on the first day of the previous business year (restated) (SOP 01 to 03)	04
5 Profit loss of the period	05
6 Exchange rate differences from translation of foreign operations	06
7 Changes in revaluation reserves (Effort) taught and intangible assets	07
8 Sales or losses from subsequent measurement of financial assets at fair value through other comprehensive income (available for sale)	08
9 Profit or loss arising from effective cash flow hedge	09
10 Profit or loss arising from effective hedge of a net investment in a foreign operation	10
11 Share in other comprehensive income loss of companies linked by virtue of participating interests	11
12 Actuarial gains (sense on the defined benefit obligation)	12
13 Other changes in equity calculated to owners	13
14 Tax on transactions recognized directly in equity	14
15 Revenue in initial (index/short) capital (other than arising from the pre-bankruptcy settlement procedure or from the reinvestment of profit)	15
16 Revenue in initial (reduced) capital arising from the pre-bankruptcy settlement procedure	16
17 Revenue in initial (reduced) capital arising from the reinvestment of profit	17
18 Redemption of treasury shares buildings	18
19 Payments from members shareholders	19
20 Payment of shares in profit/dividend	20
21 Other debt (behines and payments to members) shareholders	21
22 Transfer to reserves according to the annual schedule	22
23 Increase in reserves arising from the pre-bankruptcy settlement procedure	23
24 Balance on the last day of the previous business year reporting period (SOP 04 to 25)	24
APPENDIX TO THE STATEMENT OF CHANGE ON SEP 2019 (to be filled in by underwriting) that does up financial statements in accordance with the OMS)
1 OTHER COMPREHENSIVE INCOME OF THE PREFABURSOR, SET OF TAX (SOP 00 to 04)	25
2 COMPREHENSIVE INCOME OR LOSS FOR THE PREFABURSOR (SOP 05-01)	26
3 D Earnings from differences from translation of foreign operations	27
Current period
1 Balance on the first day of the current business year	28
2 Changes in accounting policies	29
3 Forese loss of errors	30
4 Balance on the first day of the current business year (restated) (SOP 28 to 50)	31
5 Profit loss of the period	32
6 Exchange rate differences from translation of foreign operations	33
7 Changes in revaluation reserves of fixed tangible and intangible assets	34
8 Sales or losses from subsequent measurement of financial assets at fair value through other comprehensive income (available for sale)	35
9 Profit or loss arising from effective cash flow hedge	36
10 Profit or loss arising from effective hedge of a net investment in a foreign operation	37
11 Share in other comprehensive income loss of companies linked by virtue of participating interests	38
12 Actuarial gains (sense on the defined benefit obligation)	39
13 Other changes in equity calculated to owners	40
14 Tax on transactions recognized directly in equity	41
15 Revenues in initial (reduced) capital (other than arising from the pre-bankruptcy settlement procedure or from the reinvestment of profit)	42
16 Revenues in initial (reduced) capital arising from the pre-bankruptcy settlement procedure	43
17 Revenues in initial (reduced) capital arising from the reinvestment of profit	44
18 Redemption of treasury shares buildings	45
19 Payments from members shareholders	46
20 Payment of shares in profit/dividend	47
21 Other debt (behines and payments to members shareholders)	48
22 Carry forward pre-annual plans	49
23 Increase in reserves arising from the pre-bankruptcy settlement procedure	50

Notes

52
53

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: 1 January – 31 December 2025

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 year 2025, available on Zagreb Stock Exchange website.

Annual Report of Span Group and Span d.d. for year 2024 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 Group issued corporate guarantees in the amount of EUR 8,529 thousand (of which EUR 2,513 thousand for Span d.d.).

Average number of Span Group employees in the period from 1.1.2025. to 31.12.2025. was 890. The average number of employees of Span d.d. in the period from 1.1.2025. to 31.12.2025. was 776.

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 37,276 thousand, out of which EUR 37,100 thousand is directly charged to the costs of the period, while EUR 176 thousand is capitalized. Capitalized cost is broken down into net salaries (EUR 106 thousand), taxes and contributions from salaries (EUR 18 thousand) and contributions to salaries (EUR 53 thousand). In the observed period, Span Group capitalized

labor costs related to the continued development of internally generated intangible assets. Total amount personnel expenses during the period amounts to EUR 43,498 thousand, of which the amount of EUR 43,322 thousand is directly charged to the expenses of the period, while EUR 176 thousand is capitalized. Capitalized cost is broken down into net salaries (EUR 106 thousand), taxes and contributions from salaries (EUR 18 thousand) and contributions to salaries (EUR 53 thousand).

Deferred tax assets of Span Group as at 31 December 2024 amount to EUR 1,158 thousand, while for Span d.d. it amounts to EUR 933 thousand. In Span Group, in the reporting period, deferred tax assets have been decreased by EUR 527 thousand, while in Span d.d. deferred tax assets have been decreased by EUR 310 thousand. Decrease relates to the corporate income tax liability calculated on the result of the reporting period.

Span d.d. in the business year 2025 holds a majority stake in Span Kazakhstan Ltd, Astana and Span Hellas SA, Athina. The amount of capital that Span d.d. holds in Span Kazakhstan Ltd amounts to 85,72%, ie EUR 150 thousand. The amount of capital that Span d.d. holds in Span Hellas SA amounts to 90%, ie EUR 450 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 in Liquidation Zurich, SPAN-IT SRL Chisinau, Cyber Security Incubator d.o.o. Zagreb, GT Tarkvara OU Tallinn, Span LLC Tbilisi, Ustanova Span Centar kibernetičke sigurnosti Zagreb, Span BV Amsterdam, Trilix d.o.o. Zagreb, SPAN IT s.r.o. Praha, SPAN POLSKA SPÖLKA Z OGRANICZONĄ ODPOWIEDZIALNOŚCIĄ Warsaw, Span Romania S.R.L. Bucharest.

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

Unaudited financial statements of Span d.d. and Span Group for the period from 1 January - 31 December 2025, 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.

Nikola Dujmović
President of the Management Board

AI assistant

Span d.d. — Interim / Quarterly Report 2025

2101_10-q_2026-03-05_16ff40b6-4079-4dab-8837-6d63dc3a6637.pdf

1.1. Statement by Ana Vukšić,

1.2. Corporate events

1.2.1. Acquisitions and disposals of treasury shares

1.2.2. New ESG strategy adopted

1.3. Business events, awards and recognitions

Supplier of the Year

Supplier of the Year

soan

1.3.1. Span Croatia, Slovenia and Ukraine – winners of 2025 Microsoft Partner of The Year Awards

1.3.2. Starbucks Supplier of the Year

1.5.5. Span earned one new Advanced Microsoft Specialization

1.5.4. Span Cyber Security Arena 2026. Announcement

1.4. People and community

1.4.1. Priority areas and new ESG objectives defined

Environment

Social

Governance

Environment

Social

Governance

1.4.2. Organisational Climate Survey: international offices and inclusiveness in focus

1.4.3. Participation in conferences and professional events

1.4.4. Span Heroes

1.4.5. Employee health and well-being in focus

1.4.6. Span Christmas Pub Quiz – team spirit and team power

1.4.7. The First Audio Book Club held

1.4.8. People of Span for the community

1.4.9. Voluntary contribution and professional engagement

1.4.10. Cooperation with the Croatian Business Council for Sustainable Development (HRPSOR)

1.4.11. Exchange of experience on sustainable practices

1.4.12. Cooperation with URI Soča

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

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

2.3. Key features of the period – twelve months of 2025

Span Group

Span d.d.

Revenue

Operating expenses

EBITDA

Net profit

2.4. Revenues by segments

2.5. Revenues by geographic markets

2.6. Balance Sheet

Assets

Investment in assets

Deferred tax assets

Equity and reserves

Long-term and short-term liabilities

2.7. Cash flow

Span Group

Span Group

Span Group

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

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

More from Span d.d.

Span d.d. Interim / Quarterly Report 2025