Interim report
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HALF-YEAR REPORT 2026 HOME OFCONSTRUCTION ONE STEPONE STEP AHEADAHEAD
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Operating data in EUR m 1-6/2026 1–6/2025 Change Production output1 3,167 3,171 -0.1% Foreign share 52.0% 54.4% -2.4 PP Order backlog 9,839 9,421 4.4% Order intake 3,466 4,049 -14.4% Staffing level (average) 20,801 20,651 0.7% Earnings indicators in EUR m 1-6/2026 1–6/2025 Change Revenue 2,925.3 2,959.2 -1.1% EBITDA 171.1 153.4 11.6% EBIT 56.3 48.7 15.6% EBT 49.2 38.8 26.8% Profit 36.4 29.4 23.9% Earnings per share (in EUR) 0.71 0.53 34.0% Financial position indicators in EUR m 30.06.2026 31.12.2025 Change 30.06.2025 Total assets 4,726 4,578 3.2% 4,271 Equity (incl. non-controlling interests) 946 964 -1.8% 855 Equity ratio 20.0% 21.1% -1.1 PP 20.0% Net debt 461 -93 < -100.0% 301 Cash flow and investments in EUR m 1-6/2026 1–6/2025 Change Cash flow from operating activities -257.9 -100.7 156.1% Cash flow from investing activities -209.7 -96.0 118.5% Cash flow from financing activities -71.2 -76.5 -6.9% CAPEX2 172.1 122.4 40.7% Depreciation/amortisation/impairment 114.9 104.7 9.7% Key data regarding shares in EUR m 30.06.2026 31.12.2025 Change 30.06.2025 Number of shares 39,278,250 39,278,250 - 39,278,250 Market capitalisation 1,738.1 1,262.8 37.6% 1,107.6 1 The production output corresponds to the output of all companies and consortiums (fully consolidated, equity method, proportional or those of minor significance) in line with the interest held by PORR AG. 2 Investments in property, plant and equipment and intangible assets. The figures have been rounded off using the compensated summation method. Absolute changes are calculated using the rounded values, relative changes (in percent) are derived from the non-rounded values. KEY DATA 2
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CONTENTS ONE STEP AHEAD 02 Foreword by the Executive Board 03 Highlights 04 PORR on the Stock Exchange INTERIM CONSOLIDATED FINANCIAL STATEMENTS 18 Overview 20 Consolidated Income Statement 21 Consolidated Statement of Comprehensive Income 22 Consolidated Cash Flow Statement 23 Consolidated Statement of Financial Position 24 Statement of Changes in Group Equity 26 Notes to the Interim Consolidated Financial Statements 0202 1818 3838 0606 GROUP MANAGEMENT REPORT 06 Overview 08 Markets & Performance 11 Forecast Report 12 Segment Report FURTHER INFORMATION 38 Statement of All Legal Representatives 39 Financial Calendar, Contact, Acknowledgements 1
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Dear shareholders, dear stakeholders, The first half of 2026 was very dynamic for PORR. We were pleased to secure a number of significant new orders: For example, we’re building the 13 km western bypass of Szczecin and part of the DK25 national road in Poland. We’re constructing the multi-use ensemble Holzmarktstraße 51 in Berlin and have also won major contracts in industrial construction in Germany, such as the chip factory for X-FAB in Erfurt. The order backlog of EUR 9.8 bn secures good capacity utilisation for the next one and a half years. Production output remained stable at around EUR 3.2 bn in the first half of 2026. In the second half of the year, we’re continuing the momentum. In Germany, we’ve already secured a number of contracts in the building construction sector and our project pipelines are well stocked: There are currently numerous tenders underway, particularly in Poland and CEE. Civil engineering remains the driving force behind the sector: In Eastern Europe, infrastructure development is in full swing, and in Germany a wave of refurbishment projects is on the horizon. We are also expanding our portfolio in growth segments such as industrial construction, healthcare and affordable housing. We’re also consistently delivering improved earnings on the basis of our order pipeline. With an increase of 15.6%, PORR generated earnings before interest and taxes (EBIT) of EUR 56.3m, while we increased earnings per share by more than a third to EUR 0.71. Our broad product portfolio and consistent cost management give us confidence for the further course of the year as well. For the full year, we expect growth in output and revenue of 2% to 4% as well as an EBIT margin of 3.2% to 3.3%. August 2026, Vienna Klemens Eiter Executive Board Member and CFO Karl-Heinz Strauss Chairman of the Executive Board and CEO Josef-Dieter Deix Executive Board Member and COO Claude-Patrick Jeutter Executive Board Member and COO 2
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HIGHLIGHTS Scan the QR code to learn more. When AI is added to the mix with asphalt and concrete A high proportion of recycled content in construction materials can re - duce emissions and conserve natural resources. However, when natural aggregate is replaced by recycled material in asphalt or concrete pro - duction, the material parameters change. This can affect the durability of the construction materials. PORR’s SmartStreet research project, in collaboration with the Univer- sity of Innsbruck, uses artificial intelligence to de - termine in advance what properties the finished product will have. This allows recycled products to be upgraded and used in an optimised way. Scan the QR code to learn more. PORR gets Gold: PORR has continued to improve in the international EcoVadis sustainability rating. Of all companies assessed worldwide, it ranks among the best 5%, and even among the top 3% within the con- struction of buildings sector. “This demonstrates we’re consistently in- tegrating sustainability into our business activities and continuously advancing our initiatives. I’m par- ticularly pleased that our progress is visible across every area assessed”, says CEO Karl-Heinz Strauss. New high in EcoVadis rating Scan the QR code to learn more. The major SuedLink project will make it possible to transport wind energy from northern Germany to the south. PORR is implementing the central key section: A 5.2-kilometre tunnel beneath the Elbe, connecting Schleswig-Holstein and Lower Saxony. On 22 June – ahead of schedule – the breakthrough was achieved on the ElbX project. The tunnel was driven using mechanised tunnelling at depths of up to several dozen metres beneath the Elbe and under challenging geological and water-bearing conditions. PORR is now working in close coordination with all project stakeholders on the interior works and technical fit-out. Completion is planned for summer 2027. Milestone in ElbX tunnel crossing: Decisive breakthrough 3 ONE STEP AHEAD GROUP MANAGEMENT REPORT FINANCIAL STATEMENTS FURTHER INFORMATION
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Stock markets show signs of recovery The first half of 2026 was characterised by high volatility on the international capital markets and a challenging geopolitical envi- ronment. In addition to prevailing uncertainty about the political direction of the USA, market developments were influenced by the conflicts in Ukraine and the Middle East in particular. The escalation of the situation in Iran and the associated disruption to shipping traffic through the Strait of Hormuz led at times to significant spikes in energy prices. Subsequently, this became a focus for market participants, alongside general inflation risks and expectations of rising interest rates. The escalation in the Middle East led to significant share price declines at the beginning of March, before a recovery set in on the international stock markets as the first half of 2026 progressed. However, performance varied considerably by region. While the Japanese equity market and the US technology sector in par- ticular recorded significant gains, the Chinese and German stock markets grew at a comparatively weaker pace. Listed companies with small or medium market capitalisation generally performed better than those with a high market value. The Austrian stock market, which consists largely of companies with comparatively low market capitalisation, therefore showed correspondingly dynamic growth. Supported by continued in- flows of funds, the benchmark ATX index rose by 21.4% in the period from 31 December 2025 to 30 June 2026. Internationally, the S&P 500 and the Nasdaq 100 recorded gains of 9.6% and 19.9% respectively. The EURO STOXX 50 improved by 9.3%, while Germany’s benchmark DAX index showed a far more subdued development with an increase of 2.1%. Strong performance of PORR share continues The PORR share continued its positive performance in the first half of 2026. After reaching its low for the year of EUR 32.05 on 21 January, the share price rocketed over the subsequent period. On 25 June, the share reached EUR 46.00, its highest level in the reporting period and a new all-time high. As of 30 June 2026, the closing price of the PORR share was EUR 44.25. This put it 37.6% above the year-end 2025 price of EUR 32.15. The PORR share therefore outperformed the strong growth of the Austrian market as a whole. Based on 39,278,250 shares in issue, market capitalisation as of the reporting date amounted to around EUR 1.7 bn. The average daily trading volume in the first half of 2026 was around 57,954 shares. The positive share price performance was supported by the strong results for the 2025 financial year, con- tinued interest in European infrastructure stocks, and the ongoing high visibility as a member of Austria’s benchmark ATX index. Share price and trading volume of the PORR share in the first half of 2026 (Index) Share price performance in % Average daily trading volume per month in number of shares (thousands) PORR share ATX – Austrian Traded Index Trading volume PORR share Jan Feb Mar 200 180 160 140 120 100 80 150 120 100 75 50 25 0 Apr May Jun PORR ON THE STOCK EXCHANGE PORR Half-Year Report 2026 ONE STEP AHEAD 4
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Dividends and Annual General Meeting The 146th Annual General Meeting of PORR AG was held in Vi- enna on 28 April 2026. It passed a resolution to distribute a divi- dend of EUR 1.05 per share for the 2025 financial year. Compared with the previous year’s dividend of EUR 0.90, this corresponds to an increase of 16.7%. The payout ratio was 35.0% and therefore within the range of 30% to 50% defined by PORR. The dividend was paid out on 7 May 2026. In addition, the Annual General Meeting approved a new Long Term Incentive Program and renewed the authorisations of the Executive Board to acquire, sell and redeem treasury shares. The authorisation to acquire treasury shares covers up to 10% of the share capital and creates additional flexibility for future capital measures. In addition, conditional capital and an authorisation for the possible issue of convertible bonds were approved. Increase in international free float As of the reporting date of 30 June 2026, 47.4% of the shares in issue were attributable to the syndicate comprising the Strauss Group and IGO Industries Group. The free float, including the shares held by PORR Management, amounted to 52.6%. After the reporting date, on 10 July 2026, IGO Industries Group sold a total of 4.0% of the PORR shares bound in the syndicate. As a result, the free float, including the shares held by PORR Man- agement, increased to 56.6%, while the share of the syndicate comprising IGO Industries Group and Strauss Group decreased to 43.4%. The continued existence of the syndicate, the existing control relationships and IGO Industries Group’s commitment to the strategic development of PORR remain unaffected by the transaction. The further increase in the free float strengthens the liquidity of the PORR share, broadens the potential investor base and increases its international visibility on the capital market. According to the internal analysis completed in August 2026, the free float was held primarily by investors from the USA (22.0%). These were followed by investors from Germany (9.4%) and Austria (8.5%) as well as from the United Kingdom (7.5%). The proportion held by retail investors in the increased free float was 26.3%. Around 5.9% of the shares are not directly assignable. Breakdown of free float (in %) Not directly assignable 5.9% Retail 26.3% Rest of the world 1.5% Austria 8.5% Germany 9.4% UK 7.5% USA 22.0% Rest of Europe 18.9% Shareholder structure in August 2026 (in %) Syndicate (Strauss Group, IGO Industries Group) 43.4 % Free Float (of which 2.3% PORR Management ) 56.6 % 5 ONE STEP AHEAD GROUP MANAGEMENT REPORT FINANCIAL STATEMENTS FURTHER INFORMATION
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GROUPGROUP REPORTREPORT ARGE H53 Brenner Base Tunnel Tyrol, Austria 66
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REPORTREPORT Earnings before interest and taxes (EBIT) (in EUR m) 2022 2023 2024 2025 2026 32.0 34.1 42.2 48.7 56.3 Equity ratio (in %) 2022 2023 2024 2025 2026 20.018.5 19.4 20.018.4 Production output by market (in EUR m) AT 1,521 DE 729 PL 494 CZ 155 SK 10 RO 158 CH 55 Project markets 32 Miscellaneous 13 Total 3,167 All figures have been rounded off using the compensated summation method. Absolute changes are calculated using the rounded values, relative changes (in percent) are derived from the non-rounded values. 77 ONE STEP AHEAD GROUP MANAGEMENT REPORT FINANCIAL STATEMENTS FURTHER INFORMATION
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Economic environment Geopolitical tensions slow down growth The global economy continued to develop unevenly in the first half of 2026 and remained characterised by high geopolitical uncertainty. After initially more robust growth at the beginning of the year, forecasts were revised downwards in the spring as a result of the Iran war, higher energy prices and continued trade policy tensions. The OECD expects global growth to weaken from 3.4% in 2025 to 2.8% in 2026 and to pick up again to 3.1% in 2027. Higher energy and commodity prices, subdued consumer senti- ment and continued elevated uncertainty in investment decisions were having a particularly negative impact. In the USA, the economy remained resilient in the first half of the year. According to the Bureau of Economic Analysis, real gross domestic product increased by an annualised 1.5%. For the full year 2026, the OECD expects growth of around 2.0%, be- fore momentum weakens to 1.8% in 2027. Development is being supported above all by high investment in the technology and AI sector, while higher energy prices and geopolitical uncertainty are weighing on consumer spending. In the eurozone, economic growth remained subdued. The OECD forecasts GDP growth of 0.8% for 2026 and an acceleration to 1.2% for 2027. Robust labour markets and public investment had a stabilising effect, while higher energy prices, weaker exports and continued uncertainty slowed investment activity. According to Eurostat, inflation stood at 2.8% in June 2026. The European Central Bank responded in June by raising key interest rates; the deposit rate has stood at 2.25% since 17 June. The Austrian economy remained on a slight growth path in the first half of the year. The Austrian Institute of Economic Research (WIFO) and the Institute for Advanced Studies (IHS) have fore - cast real GDP growth of 0.9% and 0.8% respectively for 2026. The recovery at the beginning of the year was dampened by the renewed energy price shock and the associated deterioration in confidence, but should regain momentum from the second half of the year onwards. Inflation remains elevated: WIFO expects inflation of 3.2% on average in 2026, while IHS anticipates 3.0%. A cautious recovery also continued in Germany. The ifo Institute forecasts GDP growth of 0.8% in both 2026 and 2027. On the one hand, the energy price shock resulting from the Iran war weighed on industry, consumption and investment. On the other hand, expansionary fiscal policy and additional spending on infrastruc- ture, climate neutrality and defence had a supportive effect. The OECD also expects low growth, citing rises in public spending as a result of greater fiscal leeway and a high need for investment. In PORR’s Eastern European home markets, economic growth remained stronger overall than in Western Europe, but the pic- ture was increasingly mixed. The Vienna Institute for International Economic Studies (wiiw) expects average growth of 2.2% for the eastern EU member states in 2026 and 2.4% for 2027. Poland remains the region’s growth driver, with an increase of 3.7% forecast for 2026. According to the OECD, the Czech Republic is expected to grow by 1.9%. The situation is significantly more subdued in Slovakia and Romania, where fiscal consolidation, political uncertainty – particularly in connection with the still pending formation of a government in Romania – and elevated inflation are weighing on economic performance. Recovery of construction s ector The European construction industry continued to stabilise in the first half of 2026, but remained characterised by increasing dif- ferentiation between the segments. According to Euroconstruct, construction output volume in the 19 Euroconstruct countries (EC-19 countries) grew by 0.2% in 2025. For 2026, another in- crease is expected of 2.0%, followed by 2.2% in 2027 and 1.9% in 2028. Current Eurostat data confirm this stabilisation: In May 2026, construction output in the eurozone was 1.2% above the previous year’s level and in the EU 1.8%. At the same time, a clear divide between building construction and civil engineering remains evident. Residential construction continues to be the weakest area of the European construction industry. For the period 2026 to 2028, cumulative growth of 6.9% is expected again, although the recovery is likely to set in only gradually. In addition to higher financing costs and general economic uncertainty, a decline in permits continues to have a dampening effect. In Austria, Sta- tistics Austria reported a new low in building permits for new residential units for 2025. The situation also remains tense in Germany: According to the ifo Institute, completions are initially likely to decline further in the current year after around 205,000 residential units were completed in 2025, before a slight recovery sets in from 2027 onwards – caused by an already noticeable increase in the level of contracts awarded. Non-residential building construction remained largely stable overall, albeit with considerable differences between the indi- vidual sectors in some cases. While office construction continues to be characterised by restraint, renovations and selected seg- ments such as healthcare, education and logistics buildings are providing clearly positive impetus. The construction of healthcare facilities in particular is benefiting from structural drivers such as demographic change, the increasing need to modernise existing facilities, and higher requirements for medical infrastructure. Euroconstruct expects this segment to be the strongest growth driver in building construction over the forecast period of 2026 to 2028. At the same time, good growth rates are anticipated in the construction of military infrastructure as well. Civil engineering was once again the most important growth driver for the industry in the first half of 2026. Euroconstruct expects cumulative growth of 7.6% in the EC-19 countries for the period from 2026 to 2028. Investment in energy infrastruc- ture, water management and railway construction is seeing MARKETS & PERFORMANCE PORR Half-Year Report 2026 ONE STEP AHEAD 8
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particularly dynamic growth. This development is supported by the high need for modernisation, the energy transition, and national and European investment programmes. For May 2026, Eurostat reports a 3.5% increase in civil engineering output vol- ume in the eurozone compared with the previous year. Development of output The indicator production output includes traditional design, plan- ning and construction services as well as services from landfill operations and raw material sales and therefore all of PORR’s key services. For fully consolidated companies, this output cor- responds approximately to the revenue defined and reported in accordance with IFRS accounting standards. In contrast to revenue, production output also includes the output from joint ventures and companies accounted for using the equity method and subordinate companies in line with the interest held by the Group. Differences in definitions are reconciled pursuant to com- mercial criteria. PORR’s production output in the first six months amounted to EUR 3,167m, on a par with the previous year (1–6/2025: EUR 3,171m). While the segment AT / CH recovered significant ground in terms of output – not least due to railway and structural engineering – the segment PL continued its particularly strong performance. The first half of 2026 was also characterised by a later start to the season due to the long winter: Poor weather conditions, including snow on the ground well into April, led to a 2.6% decline in output in the building construction sector, which was particularly noticeable in Austria and Germany. By contrast, civil engineering recorded growth of 7.2%, since it is not affected by any prolonged winter break. PORR generated 98.6% of its total output on its seven home mar- kets. Austria remained PORR’s most important market, account- ing for 48.0% of production output. Germany generated 23.0% of total output, followed by Poland with 15.6%. The markets of the Czech Republic and Slovakia contributed a combined 5.2%. Romania generated 5.0% of total output, while Switzerland ac- counted for 1.7%. Order balance In the last twelve months (July 2025 to June 2026), PORR gener- ated an order intake of EUR 7,231m. This represents a slight de- crease of 5.7% compared with the previous period. In the first half of 2026, the order intake fell by 14.4% and stood at EUR 3,466m as of the reporting date. After the end of the reporting period, the German Bundeswehr concluded a three-year framework agreement with PORR worth EUR 270m in connection with the German Armed Forces – Contractor Augmentation Program (G-CAP). Further additional high-margin contracts in German industrial and residential construction with a total value of around EUR 200m are already secured; in the fall, another major contract worth EUR 200m is also expected. In German infrastructure construction – including road, railway and tunnel construction – increased tendering and contract-award activity is expected from October onwards. In Po- land, PORR already won infrastructure contracts worth EUR 180m after the reporting date. In the segments PL and CEE, further major projects with a value of more than EUR 4.5 bn are currently in the final tendering or offer phase. Given its extensive expertise in areas such as tunnelling, PORR has very good prospects for winning several contracts. In Romania, PORR is the top bidder for a highway project worth approximately EUR 550m; the contract is expected to be awarded once a new government is formed. In light of the new contracts in Germany, Poland and Romania, strong growth is set to continue. In the first six months of 2026, PORR once again won a number of major new orders in the infrastructure sector. The largest new order was the western bypass of Szczecin in Poland. There, PORR is responsible for a section of more than 13 kilometres between Kołbaskowo and Dołuje. Another major transport infrastructure project is the design & build contract for the Polish national road DK25 between Konin and Rychwał. In addition, PORR is involved in the Fehmarn Sound Crossing as a consortium partner, con- tributing its extensive expertise in specialist civil engineering in Germany. The largest single building construction contract received by PORR was in German industrial construction: At the X-FAB site in Erfurt, it is realising cleanrooms and other facilities for the Fab4Micro project, which is intended to expand production capacities for semiconductors. The significant building con- struction projects also once again include residential construc- tion contracts, among them the mixed-use ensemble HMS 51 in Berlin, with apartments, a public swimming pool and office space, as well as the Seestädter and Lil-y am See residential complexes in Vienna. It also recorded significant new orders in healthcare construction. These include, for example, the new psychiatric building at Klinik Favoriten. As of the reporting date of 30 June 2026, the order backlog stood at EUR 9,839m. This represents an increase of 4.4% compared with the previous year. The main driver of this development was building construction, which recorded a significant rise, par- ticularly due to higher construction output on ongoing projects. The segments AT / CH and DE developed particularly well, each achieving double-digit growth. If the orders recently received in Germany and Poland were taken into account, the total order backlog would also show a double-digit increase. Staff PORR employed around 20,801 staff members in the first half of 2026. The main factor behind the 0.7% increase was the trans- fer of new PORR employees from the former VSG to the PORR Healthcare department. Financial performance The construction industry is subject to seasonal fluctuations typical for the sector. The first half of the year usually shows weaker earnings due to lower construction output in the winter months. It therefore allows only limited conclusions to be drawn about the financial year as a whole. In the first half of 2026, revenue amounted to EUR 2,925.3m. The effects of the long winter were also evident here. Due to the shift in output in favour of consortiums and joint ventures, the decline in revenue of 1.1% compared with the previous year’s level was somewhat higher than the decline in output. The in- creased share of consortiums and joint ventures also led to a 40.0% rise in income from companies accounted for using the equity method, which totalled EUR 44.9m. In addition, the sale of an operating property by a joint venture resulted in a one-off effect of EUR 6.4m. 9 ONE STEP AHEAD GROUP MANAGEMENT REPORT FINANCIAL STATEMENTS FURTHER INFORMATION
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The cost of materials and other purchased services decreased by a total of EUR 58.8m to EUR 1,882.6m. Their share of revenue therefore fell by 1.3 PP to 64.4%. This development underlines PORR’s continued consistent cost management. The hedging measures relating to material price increases in connection with the Iran war also had an effect here. Due to inflation, employee benefits expenses increased by 3.4% to EUR 829.6m. Their share of revenue rose by 1.3 PP to 28.4%. Other operating income rose by EUR 6.9m to EUR 101.7m, primar- ily due to higher recharges and insurance reimbursements. Other operating expenses decreased by 0.6% to EUR 191.6m. Due to efficiency improvements and consistent cost manage - ment, earnings before interest, taxes, depreciation and amorti- sation (EBITDA) improved by 11.6% to EUR 171.1m. Depreciation, amortisation and impairment expense increased by 9.7% to EUR 114.9m compared to the first half of 2025. This was partly due to extraordinary impairment of EUR 7.4m in connection with the expected sale of the PWW group. Earnings before interest and taxes (EBIT) therefore rose by 15.6% to EUR 56.3m. The EBIT margin in relation to revenue increased from 1.65% to 1.92%. The financial result (sum of income from financial investments, other current financial assets and finance costs) improved to EUR -7.1m (1–6/2025: EUR -9.9m) due to higher income from financial assets. This resulted in earnings before tax (EBT) improving by 26.8% to EUR 49.2m (1–6/2025: EUR 38.8m). The tax rate increased due to the good results in Germany. Although the tax result of EUR -12.8m was significantly below the comparative figure for the previous year (1–6/2025: EUR -9.4m), the profit for the period improved by 23.9% to EUR 36.4m. Earnings per share amounted to EUR 0.71, an increase of 34.0% on the previous year (1–6/2025: EUR 0.53). Financial position PORR’s total assets stood at EUR 4,725.8m as of 30 June 2026 and were therefore 3.2% above the figure at the end of the pre- vious year (31 December 2025: EUR 4,725.8m). Non-current assets increased by 7.8% compared with the pre - vious year-end to EUR 2,003.2m, partly as a result of the acqui- sition of rhtb group. In addition, PORR invested in hybrid capital of UBM Development AG with a nominal amount of EUR 56.4m. This secures PORR both a long-term earnings opportunity with an interest rate of 9.0% and a strong sales partner for PORR LIVING. At the same time, current assets also increased by 0.1% to EUR 2,722.6m. The increase in trade receivables included here is also attributable to the long winter and the resulting delay in invoicing and cash conversion. Despite the higher dividend payout, equity increased by EUR 92.0m compared with the previous year’s reporting date to EUR 946.5m (30 June 2025: EUR 854.5m). The equity ratio was therefore at the previous year’s level at 20.0%. Debt stood at EUR 3,779.4m (30 June 2025: EUR 3,416.3m). The increase of 10.6% is essentially attributable to the rise in trade payables – in parallel with the increase in trade receivables. The decline in other liabilities is attributable to the reduction in VAT liabilities and slightly lower advance payments received. As a result of increased investment in company acquisitions as well as higher financial investments, net debt also rose by EUR 159.2m. As of the reporting date of 30 June 2026, it amounted to EUR 460.6m (30 June 2025: EUR 301.4m). Here too, the effects of the long winter and the associated later invoicing and longer cash conversion are noticeable. Cash flows Operating cash flow decreased by EUR 7.1m compared with the same period of the previous year to EUR 131.8m. This develop - ment is primarily attributable to one-off higher tax payments in connection with the completion of a tax audit. Due to the weath- er-related late start to the construction season, there was an increased build-up of working capital. This resulted in cash flow from working capital of EUR -389.7m (1–6/2025: EUR -239.5m). Cash flow from operating activities stood at EUR -257.9m (1– 6/2025: EUR -100.7m). A reduction in working capital and signif- icantly positive cash flow from operating activities are expected again by year-end. Cash flow from investing activities decreased by EUR 113.8m to EUR -209.7m. In addition to investments in company acquisi- tions amounting to around EUR 39m and in 9% hybrid capital of UBM Development AG, this reflects the acquisition of property, plant and equipment, which was around EUR 20m higher. The latter relates in particular to the purchase of a tunnel boring ma- chine in Poland, which was not carried out within the framework of consortiums or lease agreements as is usually the case. Cash flow from financing activities remained largely unchanged at EUR -71.2m (1–6/2025: EUR -76.5m). The slight improvement compared with the previous year is mainly attributable to the repayment of hybrid capital in the comparative period. In total, cash and cash equivalents decreased by EUR 545.0m as of the reporting date of 30 June 2026 to EUR 203.4m (30 June 2025: EUR 307.5m). Investments Investment activity is measured by applying the CAPEX indica- tor (capital expenditure). This includes investments in intangible assets, property, plant and equipment, assets under construction and usage rights. In the first half of 2026, investments in both replacement and new construction equipment were made, as well as a major invest- ment in a tunnel boring machine. CAPEX increased by EUR 49.8m compared with the low comparative figure of the previous year to EUR 172.1m. This results in a CAPEX ratio in relation to production output of 5.4% (1–6/2025: 3.9%). For the full year, a CAPEX ratio of around 4.5% is now expected. PORR Half-Year Report 2026 ONE STEP AHEAD 10
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The global economy is likely to continue its moderate growth in 2026, although it remains characterised by geopolitical uncer- tainty. After a more robust start to the year, forecasts were revised downwards as a result of the Iran war, higher energy prices and ongoing trade policy tensions. The OECD expects global growth of 2.8% for 2026, while the IMF forecasts 3.0%. A slight acceleration is currently expected for 2027. In the eurozone, economic growth remains more subdued. The OECD forecasts GDP growth of 0.8% for 2026 and an increase to 1.2% for 2027. A gradual recovery is also expected in Austria and Germany. PORR’s Eastern European home markets are developing more dynamically overall, but show increasing differentiation. Poland remains the region’s strongest growth driver. The European construction industry is likely to enter a growth phase in 2026. According to Euroconstruct, construction output volume in the EC-19 countries will increase by 2.0% in the current year. Civil engineering remains the most important growth driver for the industry. Investments in rail, roads, energy infrastructure, water management and digital networks are ensuring a robust project pipeline. Building construction is also showing positive trends: Residential construction is now set to recover gradu- ally after the sharp declines of recent years, while healthcare, education, logistics and infrastructure buildings, together with renovations, are providing additional momentum The long-term growth drivers – decarbonisation, digitalisation, deglobalisation and demographic change – remain unchanged and intact. With its broad product range in its home markets and its focus on infrastructure, the energy transition and selected areas of building construction, PORR is well positioned to benefit from the sustainable recovery of the European construction in- dustry. This is also reflected in a promising project pipeline, with reason to expect additional major new orders. PORR’s order backlog stood at EUR 9.8 bn as of 30 June 2026 and therefore continues to offer extremely good visibility. More than half of this – specifically 58.1% – is attributable to civil engineer- ing, once again underlining the positive momentum in this sector. Further major contracts in Polish infrastructure construction – including one already secured contract worth around EUR 180m – are currently in the final tendering phase. In Germany, increased tendering and contract-award activity in civil engineering is also expected from October. In building construction, PORR is focusing on industrial construction and healthcare facilities and expects further extensive contracts in the field of military infrastructure. In connection with G-CAP (German Armed Forces – Contractor Augmentation Program), it recently received a framework con- tract worth EUR 270m for the construction of barracks in Ger- many. In addition, PORR sees further German building construc- tion contracts worth around EUR 400m in high-margin industrial and residential construction – about half of that has already been secured. As of the reporting date, non-residential building con- struction accounted for 27.1% of the order backlog. Residential construction has recently regained momentum across multiple countries. Around 8.4% of the order backlog is attributable to this sector. With PORR LIVING, PORR is optimally positioned for growth opportunities in this area. Due to the long winter, output and revenue generation got off to a somewhat delayed start; however, based on the strong order backlog, they are now in full swing. That said, the Executive Board expects an increase in output and revenue of 2% to 4% as well as an EBIT margin of 3.2% to 3.3% for 2026. The target by 2030 is an EBIT margin of 3.5% to 4.0%. The assessment of how the business will perform is based on the general conditions in the individual areas as well as the op - portunities and risks that arise in the respective markets. Should the high-risk political situation worsen, this could have a negative impact on PORR and its business activities. Any assessment of economic development is therefore subject to forecasting risks. Opportunity and risk management Active risk management is an integral part of responsible cor- porate management at PORR and safeguards the company’s competitiveness long term. Should risks have an impact on one of PORR’s business fields or markets, this could have a negative effect on the company’s earnings, the environment and PORR’s stakeholders. There have been no material changes to the opportunity/risk pro- file from which new or changed risks for PORR can be derived. So, the description in the Risk Report of the Annual and Sustainability Report 2025 from page 203 onwards remains valid. FORECAST REPORT 11 ONE STEP AHEAD GROUP MANAGEMENT REPORT FINANCIAL STATEMENTS FURTHER INFORMATION
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SEGMENT REPORT Holding AT / CH DE PL CEE Infrastructure International *The order intake for the Holding segment is not applicable for the first half of 2026. Production output by segment (in EUR m) 275 292 515 664 1,371 50 3,167 Order backlog by segment (in EUR m) 3,361 2,110 1,022 131 1,320 1,895 9,839 Number of employees by segment (average) 944 2,712 3,491 2,624 9,657 1,373 20,801 Order intake by segment* (in EUR m) 55 238 922 514 1,871 3,466 PORR Half-Year Report 2026 ONE STEP AHEAD 12
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Segment AT / CH The segment AT/CH combines country responsibility for the two home markets of Austria and Switzerland. PORR offers its entire service portfolio in Austria. All services along the construction value chain are offered here from a single source. In addition to the permanent business – with a focus on industrial, road and residential construction – the national competencies in railway and pipeline construction, environmental engineering and specialist civil engineering are bundled here. In Switzerland, PORR focuses exclusively on civil engineering. The portfolio is complemented by strategic shareholdings, including Ing. A. Sauritschnig Alu-Stahl-Glas Gesellschaft m.b.H.. Key data in EUR m 1-6/2026 1-6/2025 Change Production output 1,371 1,361 0.7% Revenue 1,221 1,176 3.8% EBIT 43.1 43.9 -2.0% Order backlog 3,361 2,778 21.0% Order intake 1,871 1,595 17.3% Average staffing levels 9,657 9,686 -0.3% Market performance In the first half of 2026, the Austrian construction industry had a solid performance. Following a weather-related decline in value creation in the first quarter, production data showed a recovery over the course of the year. In May, construction output was 3.0% higher than the previous year. At the same time, cost pressures increased again: Construction costs in residential construction rose by 5.4% and in road construction by 8.3%. In residential construction, signs of stabilisation became more pronounced. The number of building permits developed posi- tively compared with the previous year. Lower financing costs led to rising demand for residential construction loans and had a supportive effect. However, continued cautious investment senti- ment is putting the brakes on a stronger recovery. Non-residential building construction – including the construction of healthcare facilities, industrial buildings and office buildings – remained at a good level. Civil engineering remained a key driver. Investments in transport, energy and utilities infrastructure continued to ensure a solid level of capacity utilisation. ASFINAG’s investment programme involves EUR 12.5 bn by 2031, of which more than EUR 2.0 bn is in 2026. ÖBB’s framework plan provides for investments of around EUR 19.5 bn by 2032. However, the consolidation of public budg- ets, rising construction costs and the prioritisation of individual projects dampened growth momentum. In Switzerland, PORR continues to operate exclusively in the civil engineering sector. Overall, construction activity in the main construction sector increased by 5.6% in the first half of the year, with growth driven primarily by building construction while civil engineering stagnated. Public investment and ongoing maintenance programmes continue to ensure a stable demand base. However, budget restrictions and higher material and en- ergy costs are limiting growth. The key interest rate of 0.0% and moderate changes in construction prices are having a supportive effect. Segment performance The segment AT / CH generated production output of EUR 1,371m in the first half of 2026. This trend is in line with that of the overall market. The decline from the first quarter due to the long winter was made up in the second quarter. Revenue even increased significantly due to the higher share accounted for by consorti- ums. EBIT of EUR 43.1m were impacted by impairment of around EUR 1.0m and were above the previous year’s figure even when adjusted for this. The EBIT margin stood at 3.5%. The order backlog in the segment AT / CH increased by 21.0% to EUR 3,361m. This was primarily due to a significant increase in orders in railway and structural engineering construction, although the order backlog also improved in building construc- tion. The order intake likewise recorded extremely pleasing dou- ble-digit growth of 17.3% and stood at EUR 1,871m. The largest new orders in the segment AT / CH in the first half of 2026 included several building construction and infrastructure projects. In Vienna, PORR received orders including for residential complexes like in Seestadt and the new psychiatric building at Klinik Favoriten. In infrastructure construction, significant new orders included the Klimatunnel Linz consortium, the Ober Nas – Rotschuo road construction project in Switzerland, and several railway projects for ÖBB, including the renovation of the main line in Vienna. In addition, the segments AT / CH and DE are involved as a consortium in the renovation of the railway line between Rosenheim and Salzburg. 13 ONE STEP AHEAD GROUP MANAGEMENT REPORT FINANCIAL STATEMENTS FURTHER INFORMATION
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Segment DE With the exception of railway construction and tunnelling, the segment DE represents PORR’s core activities in Germany. Key areas include building construction, industrial construction and civil engineering. All services are offered from a single source. PORR is also one of the few specialists in the field of transport infrastructure and specialist civil engineering. Another component is the engineering & design area, which covers the entire construction value chain as a one-stop shop. This includes amongst others the area of healthcare and the subsidiaries pde Integrale Planung, PPE and EPC (Engineering, Procurement, Construction). This segment trades in mineral raw materials as well. PORR Government Services with its defence unit is also anchored here, which, in addition to its main activities in Germany, is also active to a lesser extent in Italy and the Benelux countries. Key data in EUR m 1-6/2026 1-6/2025 Change Production output 664 801 -16.7% Revenue 606 817 -25.8% EBIT 9.3 4.2 120.5% Order backlog 2,110 1,891 12.3% Order intake 922 730 26.4% Average staffing levels 3,491 3,087 13.1% Market performance At mid-year 2026, signs of recovery were seen in the German construction industry. Demand grew slightly overall, while actual construction output remained subdued. Real revenue also lagged below the previous year’s level in May. Building construction showed initial, encouraging signs of a rebound. Positive developments were seen in residential construction in particular. From January to May 2026, around 104,700 apart- ments were approved, 15.4% more than in the same period of the previous year. For apartments in new residential buildings, the increase was even more pronounced at 16.6%. Lower financing costs and government support measures improved the frame - work conditions, while high construction costs and long project lead times continued to slow the implementation of new projects. Non-residential building construction developed in a highly mixed manner. Structural growth impetus came in particular from specialised areas such as the construction of data centres and research buildings. The rising demand for cloud and AI ca- pacity in particular is generating additional investment in digital infrastructure. In civil engineering, the need for investment remains high. The construction of transport, energy and digital infrastructure in particular offers positive medium and long-term prospects. The 2026 economic plan for the Special Fund for Infrastructure and Climate Neutrality provides for more than EUR 18.8 bn for the maintenance and modernisation of railway lines, the renovation of bridges and tunnels, and the digitalisation of railway infra- structure. Due to lengthy planning, approval and contract-award procedures, however, these funds are likely to be reflected in construction output only gradually. Segment performance The decline in production output and revenues is attributable on the one hand to the very long winter and the associated disruption in building construction. On the other hand, a major project also came to an end. A considerable amount of this was already offset in the second quarter of 2026. Both EBIT and the EBIT margin more than doubled compared to the previous year, at EUR 9.3m and 1.6% respectively, which is attributable in particular to high-margin projects in industrial construction. The order situation in the segment DE continues to develop very positively. The order backlog increased by 12.3% to EUR 2,110m. The order intake rose even more strongly, growing by 26.4% to EUR 922m. The rise in the order intake was driven primarily by positive developments in building construction and infrastruc- ture construction. Significant contributions were made by the areas of industrial construction, specialist civil engineering and building construction in the South region. To date, the company has already secured a major contract in industrial construction as well as several other building construction contracts totalling around EUR 200m. In addition, a major building construction contract worth approximately EUR 200m is expected in autumn. In connection with G-CAP (German Armed Forces – Contractor Augmentation Program), PORR recently received a three-year framework contract worth EUR 270m for the construction of barracks. From October, tendering and contract-award activity in German civil engineering – including railway, road and tunnel construction – is then likely to gain significant momentum with a valume of EUR 1.5 bn. The segment DE received its largest new order with the Fab4Mi- cro project at the X-FAB site in Erfurt. PORR is benefiting here from its extensive expertise in the construction of cleanrooms. Other significant contracts include the mixed-use HMS 51 build- ing construction project in Berlin, the Fehmarn Sound crossing and the new construction of Münster Police Headquarters. PORR Half-Year Report 2026 ONE STEP AHEAD 14
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Segment PL The segment PL holds the entire country responsibility for the home market of Poland and integrates all Polish shareholdings, including Stump-Franki. In civil engineering, PORR’s focus is on infrastructure construction, whereby in addition to road and bridge construction, the range of services also includes railway and power plant construction as well as hydraulic engineering. In building construction, PORR is active in Poland in the fields of residential and office construction, as well as building hospitals, hotels, educational institutions and industrial facilities, in addition to public-sector construction. Key data in EUR m 1-6/2026 1-6/2025 Change Production output 515 423 21.7% Revenue 488 399 22.3% EBIT 11.5 11.0 4.4% Order backlog 1,895 1,797 5.4% Order intake 514 564 -9.0% Average staffing levels 2,624 2,478 5.9% Market performance In Poland, infrastructure construction remains the key driver. Supported by public investment and EU-co-financed pro - grammes, Euroconstruct expects real growth in construction output of 6.4% for the full year 2026. This makes Poland one of the fastest growing markets in Europe. In residential construction, stabilisation clearly continued. From January to June, around 94,900 apartments were completed, 3.2% more than in the same period of the previous year. However, high construction and financing costs continued to have a damp- ening effect on the start of new projects. In non-residential build- ing construction, investments in industrial, logistics and public buildings as well as funds from European funding programmes generated additional demand. Civil engineering remained the most important growth driver. Extensive programmes to expand the road and rail network are ensuring a well-filled project pipeline. The national road operator GDDKiA planned tenders in 2026 for at least 212 km of new roads and bypasses. Investment activity in railway construction also re- mained strong: The national rail operator PKP Polskie Linie Kole- jowe increased its planned tender volume for 2026 from EUR 2.2 bn to around EUR 2.7 bn. With a current open tender pipeline of EUR 5.5 bn in total, the modernisation and expansion of the Polish transport network continues to ensure an exceptionally positive demand situation. Additional impetus is coming from the infrastructure programme surrounding the new transport hub Port Polska, formerly Cen - tralny Port Komunikacyjny (CPK). The long-term airport and rail programme is generating extensive investment in building con- struction and transport infrastructure. Segment performance Based on the strengthened order pipeline, both production output and revenue increased by more than 20% each, although the long winter was also noticeable here. EBIT increased from EUR 11.0m to EUR 11.5m, while the EBIT margin was maintained at a high level of 2.4%. The order backlog, which increased by 5.4% to EUR 1,895m, re- sulted in particular from infrastructure and railway construction. The order intake amounted to EUR 514m and was therefore 9.0% below the previous year’s level due to the high comparative figure. In the previous year, there had been a large new order shortly before the reporting date. In the second half of 2026, new orders totalling EUR 180m are already in the pipeline in the infrastruc- ture sector, while around EUR 4.5 bn is in the tendering and offer phase. PORR is a leading contender for some of these and there- fore sees very good chances of securing further major contracts. With the Szczecin bypass, a design-and-build contract for the national road between Kołbaskowo and Dołuje, PORR already received an extensive road construction project in Poland in the first quarter of 2026. In May, the contract for the construction of an ammunition storage facility in Powidz was added, representing a significant order in military infrastructure construction. In addi- tion, further major contract awards in Polish building construction were received in June, including for the TBS Mościckiego resi- dential construction project in Wrocław. 15 ONE STEP AHEAD GROUP MANAGEMENT REPORT FINANCIAL STATEMENTS FURTHER INFORMATION
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Segment CEE The segment CEE is responsible for the home markets of the Czech Republic, Slovakia and Romania and integrates all local sharehold- ings. In the Czech Republic, PORR offers a comprehensive range of services, especially those on a permanent basis, including both civil engineering and building construction projects. In Slovakia, services are focused on civil engineering. In Romania, PORR is primarily active in civil engineering with its entire product portfolio. The broad portfolio is also extended with large-scale projects in infrastructure and specialist civil engineering as well as asphalt pro - duction. This means that PORR covers the entire construction value chain in infrastructure construction. Key data in EUR m 1-6/2026 1-6/2025 Change Production output 292 284 2.8% Revenue 319 303 5.4% EBIT 12.6 5.5 > 100.0 % Order backlog 1,320 1,301 1.5% Order intake 238 698 -65.9% Average staffing levels 2,712 2,906 -6.7% Market performance In the CEE home markets of the Czech Republic, Slovakia and Romania, the construction industry had developed positively overall by mid-year 2026, albeit with clear differences between the individual markets. According to Euroconstruct, demand in the Czech Republic and Slovakia was supported in particular by investments in transport, energy and social infrastructure. At the same time, rising construction costs and strained public budgets weighed on further growth. In Romania, construction activity remained at a high level. Civil engineering in particular benefited from extensive road and rail- way projects as well as European funding. According to EECFA, the well-filled infrastructure pipeline continues to ensure solid demand. However, the strained budgetary situation and higher costs could somewhat dampen growth momentum. The current political situation – efforts to form a government are ongoing following the presidential election – is currently slowing the awarding of contracts. In the Czech Republic, by contrast, growth continued in both building construction and civil engineering. Investments in trans- port and energy infrastructure as well as in the modernisation of existing buildings provided additional impetus. Framework conditions also improved in residential construction due to more favourable financing options and a rising number of new projects. The Slovakian construction industry also saw a clear revival. In addition to civil engineering, building construction developed positively as well. Additional demand arose in particular from investments in hospitals and public facilities. According to Euro- construct, however, the medium-term outlook remains subdued in light of limited public funds and expiring funding programmes. Segment performance Here too, the winter made itself felt. Nonetheless, both production output and revenue rose by 2.8% and 5.4% respectively. Due to the existing order backlog, growth is set to accelerate signifi- cantly in the second half of the year. EBIT more than doubled from EUR 5.5m to EUR 12.6m, which is mainly attributable to the strong performance of the expressway projects in Romania. The EBIT margin stood at an absolute top level of 4.0%. The order intake in the first half of the year totalled EUR 238m, which was 65.9% below the previous year’s level. This is attribut- able, on the one hand, to the current political situation. PORR has already emerged as the best bidder for one motorway lot worth around EUR 550m, with the contract award expected after the formation of the government has been completed. On the other hand, the segment CEE recorded significant new orders in the Czech Republic in the previous year, which means that capacity there is now well utilised. The order situation is very solid, with an order backlog of EUR 1,320m. Due to the well-filled project pipeline and the increased implementation of EU-financed in- vestments in the CEE markets, a revival in the order intake is expected for the second half of the year. The largest new orders in the segment CEE came from Romania. In addition to the modernisation of Traian Square in Timișoara, these include the water and wastewater infrastructure in Cosoba and Săbăreni as well as the Topalu wind farm project. PORR Half-Year Report 2026 ONE STEP AHEAD 16
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Segment Infrastructure International The segment Infrastructure International mainly consists of PORR’s expertise in international tunnelling, which focuses on the home markets in the DACH region and Eastern Europe. The Slab Track International department is also based here. Responsibility for the project markets in the United Kingdom, Norway and Qatar as well as for international projects is bundled here too. PORR has evaluated the markets in Norway and Qatar; they will remain as project markets until all outstanding projects have been completed and the relevant warranty periods have expired. As an infrastructure expert in project and international markets, PORR relies primarily on its export products in tunnelling, railway con- struction and specialist civil engineering and on cooperative partnerships with local companies. In addition, it also offers its expertise in the slab track sector on a highly selective basis. Particular attention is paid to consistent risk management. Emerging opportunities and project acquisitions are only pursued if they offer decisive advantages for PORR. Key data in EUR m 1-6/2026 1-6/2025 Change Production output 275 260 5.5% Revenue 260 233 11.4% EBIT -2.4 0.7 < -100.0 % Order backlog 1,022 1,508 -32.2% Order intake 55 452 -87.8% Average staffing levels 944 1,114 -15.3% Market performance The international infrastructure environment continued to be characterised by high demand for efficient and sustainable transport networks at mid-year 2026. The trans-European trans- port network TEN-T provides a central framework. Through the Connecting Europe Facility, the European Commission made ad- ditional funds available for the expansion and modernisation of transport infrastructure. The focus is on rail transport, cross-bor- der links and military mobility in particular. This means the project pipeline in railway and tunnel construction remains well filled over the long term. In international tunnelling, several major projects were continued, including new metro sections, railway tunnels and underground supply and disposal lines. Continuous positive impetus is also expected in the area of infrastructure refurbishment. This creates a favourable environment and good opportunities in this area of the construction industry. PORR’s construction activity focuses on technically demanding projects that are highly beneficial to society. The focus is on quality, sustainability and digital management. PORR pursues international market opportunities only selectively and has a clear focus on its home markets. Segment performance Production output in the segment Infrastructure International reached EUR 275m, while revenue stood at EUR 260m. The increases of 5.5% and 11.4% respectively resulted mainly from tunnelling. EBIT of EUR -2.4m was impacted by settlement costs from Qatar. The order backlog decreased by 32.2% to EUR 1,022m in the first half of the year, while the order intake fell by 87.8% to EUR 55m. This development is mainly attributable to the already high ca- pacity utilisation and the limited acceptance of new projects associated with this. Accordingly, the order intake in the seg- ment Infrastructure International mainly consisted of additions to existing projects. 17 ONE STEP AHEAD GROUP MANAGEMENT REPORT FINANCIAL STATEMENTS FURTHER INFORMATION
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Railway construction Dinkelscherben, Germany INTERIM CONSOLIDATED FINANCIAL STATEMENTS 18
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INTERIM CONSOLIDATED AS OF 30 JUNE 2026 20 Consolidated Income Statement 21 Statement of Comprehensive Income 22 Consolidated Cash Flow Statement 23 Consolidated Statement of Financial Position 24 Statement of Changes in Group Equity 26 Notes to the Interim Consolidated Financial Statements FINANCIAL STATEMENTS 19 ONE STEP AHEAD GROUP MANAGEMENT REPORT FINANCIAL STATEMENTS FURTHER INFORMATION
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CONSOLIDATED INCOME STATEMENT in TEUR 1–6/2026 1–6/2025 Revenue 2,925,319 2,959,207 Own work capitalised in non-current assets 3,035 3,546 Income from companies accounted for using the equity method 44,869 32,052 Other operating income 101,658 94,807 Cost of materials and other related production services -1,882,582 -1,941,406 Employee benefits expense -829,605 -802,085 Other operating expenses -191,564 -192,724 Earnings before interest, tax, depreciation and amortisation (EBITDA) 171,130 153,397 Depreciation, amortisation and impairment expense -114,854 -104,698 Earnings before interest and tax (EBIT) 56,276 48,699 Income from financial investments and other current financial assets 16,743 11,519 Finance costs -23,794 -21,392 Earnings before tax (EBT) 49,225 38,826 Income tax expense -12,835 -9,449 Profit for the period 36,390 29,377 of which attributable to shareholders of the parent 27,952 20,220 of which attributable to holders of hybrid capital 7,050 7,046 of which attributable to non-controlling interests 1,388 2,111 Basic earnings per share, total (in EUR) 0.71 0.53 Diluted earnings per share, total (in EUR) 0.71 0.53 PORR Half-Year Report 2026 ONE STEP AHEAD 20
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STATEMENT OF COMPREHENSIVE INCOME in TEUR 1–6/2026 1–6/2025 Profit for the period 36,390 29,377 Other comprehensive income Remeasurement of defined benefit obligations 1,373 1,434 Change in fair value of equity instruments 206 - Income tax on other comprehensive income -257 -286 Items which cannot be reclassified to profit or loss (non-recyclable) 1,322 1,148 Differences from currency translation -3,274 -7,776 Net loss from cash flow hedges in the reporting period 759 -258 Income tax on other comprehensive income -175 59 Items which can subsequently be reclassified to profit or loss (recyclable) -2,690 -7,975 Other comprehensive income -1,368 -6,827 Total comprehensive income for the period 35,022 22,550 of which attributable to shareholders of the parent 26,643 13,471 of which attributable to holders of hybrid capital 7,050 7,046 of which attributable to non-controlling interests 1,329 2,033 21 ONE STEP AHEAD GROUP MANAGEMENT REPORT CONSOLIDATED STATEMENTS FURTHER INFORMATION
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CONSOLIDATED CASH FLOW STATEMENT in TEUR 1–6/2026 1–6/2025 Profit for the period 36,390 29,377 Depreciation, impairment and reversals of impairment on fixed assets and financial assets 114,857 104,689 Interest income/expense 7,002 9,969 Income from companies accounted for using the equity method -5,107 -4,141 Dividends from companies accounted for using the equity method 2,224 5,227 Profits from the disposal of fixed assets -8,016 -9,712 Decrease in long-term provisions -4,437 -1,762 Current income tax expense 10,085 9,318 Income tax paid -23,953 -4,234 Deferred income tax expense/income 2,750 131 Operating cash flow 131,795 138,862 Decrease/increase in current provisions -7,993 20,864 Increase in inventories -21,289 -16,237 Increase in receivables -514,172 -253,776 Increase in payables 152,968 23,045 Interest received 12,979 9,273 Interest paid -18,745 -17,625 Other non-cash transactions 6,581 -5,088 Cash flow from operating activities -257,876 -100,682 Proceeds from the sale of property, plant and equipment and investment property 15,025 18,009 Proceeds from the sale of financial investments - 25 Proceeds from repayment of loans 4,052 1,017 Payments for investments in intangible assets -17,456 -6,388 Payments for investments in property, plant and equipment and investment property -129,112 -80,298 Payments for investments in companies accounted for under the equity method and other financial investments -2,851 -13,210 Payments for investments in loans and other financing for companies accounted for under the equity method -17,258 -15,223 Payouts for financial investments -56,400 - Proceeds from the sale of consolidated companies less cash and cash equivalents - 57 Payouts/proceeds for the purchase of subsidiaries less cash and cash equivalents -5,739 25 Cash flow from investing activities -209,739 -95,986 Paid dividends and interest from hybrid capital -54,067 -48,892 Payouts to non-controlling interests -935 -70 Sale of treasury shares - 44,233 Acquisition of treasury shares - -11,325 Repayment of hybrid capital - -46,450 Repayment of bonded loans (Schuldscheindarlehen) -8,000 - Repayment of lease financing -38,792 -37,993 Proceeds from loans and other financing 51,145 48,281 Repayment of loans and other financing -20,539 -24,277 Cash flow from financing activities -71,188 -76,493 Cash flow from operating activities -257,876 -100,682 Cash flow from investing activities -209,739 -95,986 Cash flow from financing activities -71,188 -76,493 Change to cash and cash equivalents -538,803 -273,161 Cash and cash equivalents as of 1 Jan 748,427 583,165 Currency translation -6,184 -2,467 Cash and cash equivalents as of 30 Jun 203,440 307,537 PORR Half-Year Report 2026 ONE STEP AHEAD 22
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CONSOLIDATED STATEMENT OF FINANCIAL POSITION in TEUR 30.6.2026 31.12.2025 30.6.2025 Assets Non-current assets Intangible assets 271,092 244,607 225,024 Property, plant and equipment 1,313,537 1,277,439 1,279,382 Investment property 40,042 38,103 34,996 Shareholdings in companies accounted for using the equity method 125,781 116,692 92,077 Other financial investments 59,343 2,861 2,607 Other financial assets 155,774 141,016 116,997 Deferred tax assets 37,660 37,792 32,370 2,003,229 1,858,510 1,783,453 Current assets Inventories 140,031 118,263 118,161 Trade receivables 2,113,965 1,591,621 1,844,318 Other financial assets 177,135 187,379 150,727 Other receivables and current assets 76,396 74,080 66,576 Cash and cash equivalents 203,440 748,427 307,537 Non-current assets held for sale 11,643 - - 2,722,610 2,719,770 2,487,319 Total assets 4,725,839 4,578,280 4,270,772 Equity and liabilities Equity Share capital 39,278 39,278 39,278 Capital reserve 370,942 370,942 370,942 Hybrid capital 157,773 163,548 157,773 Other reserves 346,725 358,200 256,668 Equity attributable to shareholders of parent 914,718 931,968 824,661 Non-controlling interests 31,760 32,247 29,855 946,478 964,215 854,516 Non-current liabilities Provisions 130,043 130,492 138,792 Lease liabilities 292,882 301,258 317,396 Financial liabilities 271,249 263,919 173,055 Other financial liabilities 18,933 6,677 5,676 Deferred tax liabilities 43,308 42,400 33,019 756,415 744,746 667,938 Current liabilities Provisions 498,473 504,803 438,309 Lease liabilities 71,835 72,629 69,070 Financial liabilities 28,333 17,808 49,593 Trade payables 1,580,805 1,222,348 1,338,969 Other financial liabilities 40,793 34,823 37,328 Other liabilities 777,567 993,288 784,268 Tax payables 15,218 23,620 30,781 Non-current liabilities held for sale 9,922 - - 3,022,946 2,869,319 2,748,318 Total equity and liabilities 4,725,839 4,578,280 4,270,772 23 ONE STEP AHEAD GROUP MANAGEMENT REPORT CONSOLIDATED STATEMENTS FURTHER INFORMATION
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STATEMENT OF CHANGES IN GROUP EQUITY in TEUR Share capital Capital re- serve Revaluation reserve Reserve for remeasurement of defined benefit obligations Valuation of equity instruments Foreign currency translation reserves Reserve for cash flow hedges Hybrid capital Retained earnings and non-retained profit Equity attributable to shareholders of parent Non-controlling interests Total Balance as of 1 Jan 2025 39,278 358,833 22,263 -38,554 180 15,960 -1,520 211,831 258,042 866,313 27,940 894,253 Total profit for the period - - - - - - - 7,046 20,220 27,266 2,111 29,377 Other comprehensive income - - - 1,148 - -7,692 -199 - -6 -6,749 -78 -6,827 Total income for the period - - - 1,148 - -7,692 -199 7,046 20,214 20,517 2,033 22,550 Dividend payout - - - - - - - -15,075 -33,817 -48,892 -118 -49,010 Hybrid capital - - - - - - - -46,029 -421 -46,450 - -46,450 Income tax on interest of holders of hybrid capital - - - - - - - - 3,467 3,467 - 3,467 Sale of treasury shares - 12,109 - - - - - - 28,715 40,824 - 40,824 Acquisition of treasury shares - - - - - - - - -11,325 -11,325 - -11,325 Share-based payments - - - - - - - - 207 207 - 207 Balance as of 30 Jun 2025 39,278 370,942 22,263 -37,406 180 8,268 -1,719 157,773 265,082 824,661 29,855 854,516 Balance as of 1 Jan 2026 39,278 370,942 23,167 -36,035 - 10,284 -1,527 163,548 362,311 931,968 32,247 964,215 Total profit for the period - - - - - - - 7,050 27,952 35,002 1,388 36,390 Other comprehensive income - - - 1,163 159 -3,224 584 - 9 -1,309 -59 -1,368 Total income for the period - - - 1,163 159 -3,224 584 7,050 27,961 33,693 1,329 35,022 Dividend payout - - - - - - - -12,825 -41,242 -54,067 -1,816 -55,883 Income tax on interest of holders of hybrid capital - - - - - - - - 2,950 2,950 - 2,950 Share-based payments - - - - - - - - 174 174 - 174 Balance as of 30 Jun 2026 39,278 370,942 23,167 -34,872 159 7,060 -943 157,773 352,154 914,718 31,760 946,478 PORR Half-Year Report 2026 ONE STEP AHEAD 24
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STATEMENT OF CHANGES IN GROUP EQUITY in TEUR Share capital Capital re- serve Revaluation reserve Reserve for remeasurement of defined benefit obligations Valuation of equity instruments Foreign currency translation reserves Reserve for cash flow hedges Hybrid capital Retained earnings and non-retained profit Equity attributable to shareholders of parent Non-controlling interests Total Balance as of 1 Jan 2025 39,278 358,833 22,263 -38,554 180 15,960 -1,520 211,831 258,042 866,313 27,940 894,253 Total profit for the period - - - - - - - 7,046 20,220 27,266 2,111 29,377 Other comprehensive income - - - 1,148 - -7,692 -199 - -6 -6,749 -78 -6,827 Total income for the period - - - 1,148 - -7,692 -199 7,046 20,214 20,517 2,033 22,550 Dividend payout - - - - - - - -15,075 -33,817 -48,892 -118 -49,010 Hybrid capital - - - - - - - -46,029 -421 -46,450 - -46,450 Income tax on interest of holders of hybrid capital - - - - - - - - 3,467 3,467 - 3,467 Sale of treasury shares - 12,109 - - - - - - 28,715 40,824 - 40,824 Acquisition of treasury shares - - - - - - - - -11,325 -11,325 - -11,325 Share-based payments - - - - - - - - 207 207 - 207 Balance as of 30 Jun 2025 39,278 370,942 22,263 -37,406 180 8,268 -1,719 157,773 265,082 824,661 29,855 854,516 Balance as of 1 Jan 2026 39,278 370,942 23,167 -36,035 - 10,284 -1,527 163,548 362,311 931,968 32,247 964,215 Total profit for the period - - - - - - - 7,050 27,952 35,002 1,388 36,390 Other comprehensive income - - - 1,163 159 -3,224 584 - 9 -1,309 -59 -1,368 Total income for the period - - - 1,163 159 -3,224 584 7,050 27,961 33,693 1,329 35,022 Dividend payout - - - - - - - -12,825 -41,242 -54,067 -1,816 -55,883 Income tax on interest of holders of hybrid capital - - - - - - - - 2,950 2,950 - 2,950 Share-based payments - - - - - - - - 174 174 - 174 Balance as of 30 Jun 2026 39,278 370,942 23,167 -34,872 159 7,060 -943 157,773 352,154 914,718 31,760 946,478 25 ONE STEP AHEAD GROUP MANAGEMENT REPORT CONSOLIDATED STATEMENTS FURTHER INFORMATION
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1. General information The PORR Group consists of PORR AG and its subsidiaries. PORR AG is a public limited company according to Austrian law and has its registered head office at Absberggasse 47, 1100 Vienna, Austria. The company is registered with the commercial court of Vienna under reference number FN 34853f. The Group deals mainly with the planning and execution of a whole range of construction activities. The interim consolidated financial statements of the PORR Group have been prepared in accordance with IAS 34, Interim Financial Reporting in compliance with the IFRS accounting standards issued by the International Accounting Standards Board (IASB) and adopted by the European Union, the interpretations of the International Financial Reporting Interpretations Committee (IFRIC) and the standards to be applied for the first time from 1 January 2026. The effects of the first-time application of the new standards are presented in note 3. In accordance with IAS 34, the interim consolidated financial statements do not contain all the disclosures required in the annual financial statements. Therefore, these interim consolidated financial statements should be read in conjunction with the consolidated financial statements of the PORR Group as of 31 December 2025. The consolidated results of the interim financial statements according to IAS 34 are not necessarily indicative of the annual results. The euro is the reporting currency as well as the functional currency of PORR AG and the majority of its subsidiaries included in these interim consolidated financial statements. 2. Consolidated group and business combinations 6/2026 2025 Fully consolidated companies as of 1 Jan 141 137 Mergers - -1 Liquidations - -1 Sales - -1 Additions due to foundations 4 2 Additions due to materiality 1 1 Additions due to acquisitions 7 4 Fully consolidated companies as of 30 Jun/31 Dec 153 141 of which domestic subsidiaries 79 72 of which foreign subsidiaries 74 69 NOTES TO THE INTERIM CONSOLI- DATED FINANCIAL STATEMENTS AS OF 30 JUNE 2026 PORR Half-Year Report 2026 ONE STEP AHEAD 26
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In one company, the PORR Group holds only 49% of the shares. However, as the remaining shares are held in trust for the PORR Group, this company is included in the consolidated group. In these condensed consolidated interim financial statements, the following companies were fully included in the consolidated group for the first time. Due to new foundations Date of initial consolidation POTT55 Projekt GmbH 4.2.2026 PORR Bahnbau GmbH 27.2.2026 Vitality World Management GmbH 30.4.2026 PORR Data Center Austria GmbH 4.5.2026 No material assets or liabilities were included as a result. Due to first-time consolidation Date of initial consolidation PORR Datacenter GmbH 21.1.2026 Die grüne Flöte GmbH 31.3.2026 Elektrobud Grudziadz Spólka z ograniczona odpowiedzialnoscia 30.4.2026 rhtb: smart living systems gmbh 30.4.2026 rhtb: bau service gmbh 30.4.2026 rhtb: projekt de gmbh 30.4.2026 rhtb: projekt gmbh 30.4.2026 PORR Beteiligungen Deutschland GmbH 30.6.2026 PORR Beteiligungen Deutschland GmbH is a shelf company classified as immaterial until the date of initial consolidation, that is now commencing business activities. The assets included for the first time as of the reporting date are immaterial. Die grüne Flöte GmbH was acquired under a purchase agreement dated 25 March 2026, legally effective as of 1 April 2026, at a purchase price of TEUR 4,680, which was fully settled in cash. This is the acquisition of a right of use that does not meet the criteria of a business combination pursuant to IFRS 3 and is therefore presented as an acquisition of assets in the condensed consolidated interim financial statements. rhtb: smart living systems gmbh was acquired in the course of the acquisition of rhtb group on the basis of the purchase agreement dated 13 May 2026. The acquired patents do not meet the criteria of a business combination pursuant to IFRS 3. The transaction is therefore presented in the condensed consolidated interim financial statements as an acquisition of assets. The agreed purchase price amounts to TEUR 8,762 and is being paid in several tranches. PORR Datacenter GmbH involves the acquisition of a shell company by assignment agreement dated 21 January 2026. Under a purchase agreement dated 13 May 2026, 51% of the shares in the drywall specialists rhtb: bau service gmbh, rhtb: projekt de gmbh and rhtb: projekt gmbh (rhtb group) were acquired. At the same time, combined put and call options for the remaining shares were agreed with the seller. At the date of first-time consolidation, it is assumed that the options will be exercised. The rhtb group is therefore recognised in the condensed consolidated interim financial statements without taking non-controlling interests into account. The purchase price, including the options, amounts to TEUR 13,070 and is being paid in instalments. The purchase price was preliminarily allocated to assets and liabilities as follows: 27 ONE STEP AHEAD GROUP MANAGEMENT REPORT CONSOLIDATED STATEMENTS FURTHER INFORMATION
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in TEUR 2026 Non-current assets Goodwill 11,240 Other intangible assets 159 Property, plant and equipment 1,566 Other financial investments 11 Other financial assets 16 Deferred tax assets 29 Current assets Inventories 287 Trade receivables 8,809 Other financial assets 5,259 Other receivables and current assets 231 Cash and cash equivalents 9,362 Tax receivables 106 Non-current liabilities Provisions -81 Financial liabilities -697 Other financial liabilities -4,738 Deferred tax liabilities -385 Current liabilities Provisions -1,245 Financial liabilities -252 Trade payables -4,497 Other financial liabilities -5,939 Other liabilities -3,954 Tax payables -2,217 Purchase price 13,070 The acquisition led to the recognition of non-tax-deductible goodwill, as the purchase price includes benefits from synergic effects. The goodwill was allocated to the cash-generating unit PBG Austria. With a purchase agreement dated 30 April 2026, Elektrobud Grudziadz sp. z o.o. was acquired at a purchase price of TEUR 5,845, which is being paid in instalments. The purchase price was preliminarily allocated to assets and liabilities as follows: in TEUR 2026 Non-current assets Goodwill 1,660 Property, plant and equipment 1,437 Other financial assets 70 Deferred tax assets 152 Current assets Inventories 323 Trade receivables 2,374 Other financial assets 1,052 Other receivables and current assets 381 Cash and cash equivalents 1,047 Non-current liabilities Provisions -75 Financial liabilities -4 Deferred tax liabilities -435 Current liabilities Provisions -470 Financial liabilities -8 Trade payables -1,478 Other financial liabilities -5 Other liabilities -162 Tax payables -14 Purchase price 5,845 PORR Half-Year Report 2026 ONE STEP AHEAD 28
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The acquisition led to the recognition of non-tax-deductible goodwill, as the purchase price includes the benefits from synergic effects; this was allocated to the cash-generating unit PORR Polska Infrastructure. In total, 71 (previous year: 71) domestic and 36 (previous year: 36) foreign associated companies and joint ventures were included under application of the equity method. 3. Accounting policies and measurement methods The accounting policies and measurement methods applied in the consolidated financial statements as of 31 December 2025, which are presented in the notes to the consolidated annual financial statements, have been applied unchanged to the interim consolidated financial statements with the exception of the following standards and interpretations applied for the first time, whereby their first-time application has not had a material impact on the Group: New standard or amendment Date of publica- tion by IASB Date of adoption into EU law Date of entry into force Amendments to IFRS 7 and IFRS 9 Classification and Measurement of Financial Instruments 30.5.2024 27.5.2025 1.1.2026 Annual Improvements Volume 11 Amendments to IFRS 1, IFRS 7, IFRS 9, IFRS 10 and IAS 7 18.7.2024 9.7.2025 1.1.2026 Amendments to IFRS 9 and IFRS 7 Contracts Referencing Nature-depend- ent Electricity 18.12.2024 30.6.2025 1.1.2026 The following standards and interpretations have been published since the preparation of the consolidated financial statements as of 31 December 2025 but are not yet mandatory or have not yet been adopted into law by the European Union. Standards and interpretations already adopted by the European Union New standard or amendment Date of publica- tion by IASB Date of adoption into EU law Date of entry into force IFRS 18 Presentation and Disclosure in Financial Statements 9.4.2024 13.2.2026 1.1.2027 The new standard IFRS 18 on the presentation and disclosure in financial statements replaces the previous IAS 1 from 1 January 2027. Its application will have a significant impact on the condensed consolidated interim financial statements of PORR Group. The expected impacts remain unchanged compared with the consolidated financial statements as of 31 December 2025; see note 3, New Accounting Standards. Standards and interpretations not yet adopted by the European Union New standard or amendment Date of publica- tion by IASB Date of entry into force acc. to IASB IFRS 19 Subsidiaries without Public Accountability : Disclosures 9.5.2024 1.1.2027 Amendments to IAS 21 Translation to a Hyperinflationary Presentation currency 13.11.2025 1.1.2027 Amendments to IAS 28 Amendments to the Fair Value Option for Investments in Associates and Joint Ventures 26.6.2026 1.1.2027 IFRS 20 Regulatory Assets and Regulatory Liabilities 27.5.2026 1.1.2029 No material impact on the Group is expected. The interim consolidated financial statements as of 30 June 2026 use the same consolidation methods and basis for currency translation as were used in the annual financial statements as of 31 December 2025. 29 ONE STEP AHEAD GROUP MANAGEMENT REPORT CONSOLIDATED STATEMENTS FURTHER INFORMATION
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4. Sources of estimation uncertainty Preparing interim consolidated financial statements in accordance with IFRS accounting standards requires management to make estimates and assumptions that affect the amount and disclosure of assets and liabilities in the statement of financial position, income and expense, as well as entries regarding contingent liabilities in the interim report. Actual results may deviate from these estimates. 5. Seasonal influence in the construction sector, cli- mate change, and macroeconomic and geopoliti- cal backdrop In comparison to other industry sectors, the construction industry experiences seasonal variations with regard to revenue and earnings due to weather-related factors. Revenue and earnings are, as a rule, lower in the winter months than in the summer months. As a result of the fixed costs that exist, earnings are lower in the first half of the year than in the second. These seasonal fluctuations are less pronounced in building construction than in civil engineering and road construction. There has been no material change in the environmental and climate-related effects on the net assets, financial position and financial performance in the first half of 2026 compared to 31 December 2025. An analysis of the risks in connection with environmental and climate protection conducted in the reporting period did not lead to the identification of any obligations requiring recognition or contingent liabilities requiring disclosure that are not already taken into account in these interim consolidated financial statements. Geopolitical and macroeconomic developments in the first half of 2026 continue to be characterised by elevated risks, which are also reflected in subdued economic growth in the eurozone. Nevertheless, the European construction industry is on a recovery path, with civil engineering in particular showing more robust development than building construction. Long-term growth drivers such as decarbonisation, digitalisation, deglobalisation and demographic change remain unchanged and intact. Possible impacts of these developments on the PORR Group are being monitored continuously. Risks from uncertain obligations resulting from past events and expected to lead to a probable outflow of resources were taken into account when recognising liabilities and provisions. An analysis as of 30 June 2026 revealed no indications of a potential need for impairment of assets and goodwill or of deferred taxes on loss carryforwards. To mitigate the risk of rising prices, the PORR Group continues to rely on proactive hedging, particularly of energy price risks such as gas prices, including through hedging transactions concluded with banks. Overall, no material changes arose in the first half of 2026. 6. Revenues 1-6/2026 in TEUR AT / CH DE PL CEE Infrastruc- ture Inter- national Holding Group Revenue Building construction Commercial/office construction 23,114 71,681 - - - - 94,795 Industrial engineering 37,799 75,477 126,724 22,456 - - 262,456 Miscellaneous building construc- tion 257,832 129,346 72,921 18,212 - 2,845 481,156 Residential construction 178,820 43,057 6,349 32,258 - 9,918 270,402 Civil engineering Railway construction 123,092 10,261 101,550 21,355 7,492 - 263,750 Bridge/overpass construction 42,983 20,171 631 16,736 2,531 - 83,052 Miscellaneous civil engineering 256,289 101,156 62,337 27,443 252 - 447,477 Road construction 139,786 109,808 117,792 177,425 281 - 545,092 Tunnelling 9,231 6,622 9 - 249,344 - 265,206 Other sectors 151,937 38,574 15 2,915 - 18,492 211,933 Revenue 1,220,883 606,153 488,328 318,800 259,900 31,255 2,925,319 Revenue recognised over time 1,148,910 600,796 488,326 318,027 259,900 31,255 2,847,214 Revenue recognised at a point of time 71,973 5,357 2 773 - - 78,105 PORR Half-Year Report 2026 ONE STEP AHEAD 30
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1-6/2025 in TEUR AT / CH DE PL CEE Infrastruc- ture Inter- national Holding Group Revenue Building construction Commercial/office construction 19,158 243,016 6,977 2,710 - 186 272,047 Industrial engineering 85,978 133,310 77,040 17,905 - - 314,233 Miscellaneous building construc- tion 186,428 101,098 61,471 14,751 - 6,004 369,752 Residential construction 173,221 55,923 2,583 26,826 - 3,631 262,184 Civil engineering Railway construction 103,839 10,383 71,779 10,526 11,968 - 208,495 Bridge/overpass construction 32,365 16,280 3,287 9,178 12,269 - 73,379 Miscellaneous civil engineering 250,038 110,870 55,612 19,970 1,837 126 438,453 Road construction 159,714 91,811 120,650 195,733 - - 567,908 Tunnelling 11,864 21,053 - - 207,264 - 240,181 Other sectors 153,575 33,137 34 4,990 - 20,839 212,575 Revenue 1,176,180 816,881 399,433 302,589 233,338 30,786 2,959,207 Revenue recognised over time 1,098,924 812,986 397,184 302,329 233,338 30,786 2,875,547 Revenue recognised at a point of time 77,256 3,895 2,249 260 - - 83,660 7. Earnings per share 1-6/2026 1-6/2025 Profit for the year attributable to shareholders of parent 27,952 20,220 Weighted average number of issued shares 39,278,250 37,924,289 Basic earnings per share (in EUR) 0.71 0.53 Diluted earnings per share (in EUR) 0.71 0.53 Diluted earnings per share are the same as basic earnings per share because the issuance of employee shares under the LTIP is linked to performance criteria and the potential impact of future performance only affects earnings per share once the defined performance conditions are met at the end of the reporting period. Share-based payment arrangement PORR AG pursues a strategic direction aimed at sustainable growth and increasing the value of the company in the long term. For this reason, the Annual General Meeting and Supervisory Board of PORR AG approved a share-based payment arrangement (Long Term Incentive Program, LTIP 2026) with a grant date of 31 May 2026 for the period 2026 to 2028. The program is a performance-based share remuneration model, which extends over a three-year term (performance period) and requires a personal investment by the participants based on an annual retention as a percentage of the bonus and premium agreement payments in cash, as well as at least 20,000 shares for members of the Executive Board by the end of the term. Remuneration is paid in the form of ordinary shares (a maximum of 500,000 shares will be issued) after three years of meeting the Group’s annual EBIT margin targets for 2026 to 2028, as approved by the Supervisory Board. The annual share allocation is calculated in each case a 25% of the bonus base value set in the individual target agreement, at a base price of EUR 38.895. The aim of the LTIP 2026 is to bind the members of the Executive Board and other managers in the company in the long term and to increase their motivation and the way they identify with the company’s goals. The program is also intended to further enhance the appeal of the PORR Group as an employer. The fair value of the share-based payments on the grant date is EUR 40.5 per expected share, giving the LTIP 2026 with a three-year term a maximum value of EUR 6,268,550. The reserve as of 30 June 2026 amounts to EUR 174,126. Personnel-related liabilities of TEUR 7,006 relating to the LTIP 2023 were settled during the first half of 2026. Accounting policies The share-based payment is recognised at fair value on the grant date; it is derived from the price of PORR AG ordinary shares at the grant date and is earned over the performance period of the beneficiaries. The impacts of share-based payment transactions are recognised in the consolidated financial statements pro rata over the three-year performance period in employee benefits expense and in equity reserves. As compensation is settled through equity instruments (ordinary shares), no ongoing revaluation is performed. 31 ONE STEP AHEAD GROUP MANAGEMENT REPORT CONSOLIDATED STATEMENTS FURTHER INFORMATION
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8. Non-current assets and liabilities held for sale The non-current assets and liabilities held for sale relate to six companies of the PWW Group. The signing of the purchase agreement took place on 28 April 2026; closing is still pending. As part of the measurement of the disposal group allocated to the AT / CH segment at fair value less costs to sell, an impairment loss of TEUR 7,372 was recognised in the reporting period. The expense was reported in the income statement under depreciation, amortisation and impairment of intangible assets and property, plant and equipment. The material assets and liabilities reclassified to this item break down as follows: in TEUR 30.6.2026 Property, plant and equipment 3,174 Other assets 8,469 Financial liabilities -7,558 Other liabilities -2,364 9. Share capital No. 2026 EUR 2026 No. 2025 EUR 2025 Ordinary bearer shares 39,278,250 39,278,250 39,278,250 39,278,250 Total share capital 39,278,250 39,278,250 39,278,250 39,278,250 Following a proposal by the Executive Board and the Supervisory Board, the Annual General Meeting of PORR AG on 28 April 2026 passed a resolution, on the basis of the profit for the 2025 financial year, to distribute a dividend of EUR 1.05 per share entitled to dividends. As of the reporting date of 30 June 2026, the company does not hold any treasury shares. Treasury shares By resolution of the Annual General Meeting of 28 April 2026, the Executive Board was authorised, for a period of 30 months from the date of the resolution, pursuant to Section 65 Paragraph 1 (4) and (8) as well as Paragraph 1a and Paragraph 1b of the Stock Corporation Act, to acquire treasury shares of the company up to the legally permissible amount of 10% of the share capital, including shares already acquired, also by repeated use of the 10% limit. The consideration to be paid upon repurchase may not be lower than EUR 1.00 and may not be more than a maximum of 10% above the average, unweighted closing stock exchange price on the ten trading days preceding the repurchase. The acquisition may take place via the stock exchange or by way of a public offer or in any other legally permissible and appropriate manner, in particular also off-market, or from individual shareholders willing to sell by way of a negotiated purchase, and also excluding shareholders’ pro rata tender rights. The Executive Board is further authorised to determine the respective repurchase terms of an acquisition, whereby the Executive Board must publish the Executive Board resolution and the respective repurchase programme based on it, including its duration, in accordance with the statutory provisions in each case. The authorisation may be exercised in whole or in part and also in several partial amounts and in pursuit of one or more purposes by the company, by a subsidiary (Section 189a of the Austrian Commercial Code), or by third parties for the account of the company. Trading in treasury shares is excluded as a purpose of the acquisition. Finally, the Executive Board is authorised, with the approval of the Supervisory Board and without any further involvement of the Annual General Meeting, to redeem treasury shares. The Supervisory Board is authorised to resolve amendments to the company statutes resulting from the redemption of treasury shares. Furthermore, at the Annual General Meeting of 28 April 2026, the Executive Board was authorised, with the approval of the Supervisory Board, to sell or use treasury shares of the company also in ways other than via the stock exchange or by way of a public offer. The authorisation may be exercised in whole or in part or also in several partial amounts and in pursuit of one or more purposes. Shareholders’ pro rata purchase rights in the event of the sale or use of treasury shares in ways other than via the stock exchange or by way of a public offer are excluded (exclusion of subscription rights). Authorised capital By resolution of the Annual General Meeting of 28 April 2023, the Executive Board was authorised, with the approval of the Supervisory Board and within five years from 30 June 2023, to increase the share capital of the company by up to EUR 3,927,825 by issuing up to 3,927,825 no-par value bearer shares in exchange for cash or contribution in kind – in either case also in multiple tranches – also by way of indirect subscription rights in accordance with Section 153 Paragraph 6 of the Stock Corporation Act (authorised capital) and to determine the issue price, which may not be lower than the pro rata share of share capital, the conditions of issue, the subscription ratio and the further details of the implementation to be determined with the approval of the Supervisory Board. The Executive Board has been authorised, with the approval of the Supervisory Board, to exclude shareholders’ subscription rights in whole or in part: (i) if the capital increase is in exchange for contribution in kind; or (ii) if the capital increase is in exchange for cash and PORR Half-Year Report 2026 ONE STEP AHEAD 32
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(A) the arithmetic total of the cash consideration of the share of share capital in the company, under exclusion of subscription rights, does not exceed the limit of 10% (ten percent) of the company’s share capital at the time the authorisation is exercised, or (B) the exclusion of subscription rights is for the purpose of servicing an over-allotment option (greenshoe) in the capital increase, or (C) the exclusion of subscription rights in this respect is used to balance out fractional amounts. The Supervisory Board is authorised to rule on changes to the company statutes resulting from the use of this authorisation by the Executive Board. Conditional capital By resolution of the Annual General Meeting of 28 April 2026, the following resolution was adopted: Resolution on a conditional capital increase excluding subscription rights in the amount of up to EUR 5,891,737 by issuing up to 5,891,737 new no-par value bearer shares pursuant to Section 159 Paragraph 2 (1) of the Stock Corporation Act for issue to creditors of convertible bonds, and the determination of the requirements pursuant to Section 160 Paragraph 2 of the Stock Corporation Act, as well as the authorisation of the Executive Board to determine the further details of the conditional capital increase and its implementation, in particular the details of the issue and conversion procedure for the convertible bonds, the possibility of mandatory conversion, the issue price and the exchange or conversion ratio; and a resolution on the corresponding amendment to the company statutes by inserting a new paragraph 5 in section 4 of the company statutes, as well as the authorisation of the Supervisory Board to resolve amendments to the company statutes resulting from the issue of shares from the conditional capital. Furthermore, pursuant to Section 174 Paragraph 2 of the Stock Corporation Act , the Executive Board was authorised, within five years from the date of the resolution and with the approval of the Supervisory Board, to issue convertible bonds, also in several tranches, carrying an exchange or subscription right to acquire up to 5,891,737 new no-par value bearer shares of the company with a pro rata amount of the share capital of up to EUR 5,891,737, and to determine all further terms and conditions, the issue and conversion procedure for the convertible bonds, the issue price and the exchange or conversion ratio. The subscription rights of shareholders are excluded. In addition to or instead of a subscription or exchange right, the terms of issue may also provide for mandatory conversion at the end of the term or at another point in time. The exchange or subscription rights may be serviced by conditional capital or by treasury shares or by a combination of conditional capital and treasury shares, or in other legally permissible ways. The price of the convertible bonds is to be determined using recognised financial mathematical methods in a recognised price-finding procedure. 10. Hybrid capital The current outstanding hybrid capital from the 2021 and 2024 hybrid bonds has a total nominal value of TEUR 153,550. in TEUR Balance as of 1 Jan 2026 Repayment New issue Balance as of 30 Jun 2026 Hybrid bond 2021 18,550 - - 18,550 Hybrid bond 2024 135,000 - - 135,000 Total amount 153,550 - - 153,550 11. Financial instruments The carrying amount of the financial instruments as per IFRS 9 corresponds to the fair value, with the exception of bonds subject to fixed interest rates (fair value hierarchy level 3) and liabilities to banks subject to fixed interest rates (fair value hierarchy level 3). 33 ONE STEP AHEAD GROUP MANAGEMENT REPORT CONSOLIDATED STATEMENTS FURTHER INFORMATION
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in TEUR Measure- ment cate- gory as per IFRS 9 Carrying amount as of 30.6. 2026 Measured at amor- tised cost Fair value through other com- prehensive income Fair value through profit and loss Fair value hierarchy Fair value as of 30.6. 2026 Assets Other financial investments - Hybrid capital/Shareholdings FVTOCI 57,354 57,354 Level 3 57,354 Other financial investments - Debt instruments/other investments FVTPL 1,911 1,911 Level 3 1,911 Other financial investments - Debt instruments/other investments FVTPL 77 77 Level 1 77 Trade receivables AC 1,181,920 1,181,920 Other financial assets - oans and receivables AC 305,812 305,812 Other financial assets - Investment certificates FVTPL 264 264 Level 1 264 Other financial assets - Loans to companies for other share- holdings FVTPL 25,814 25,814 Level 3 25,814 Derivatives (without hedges) FVTPL 979 979 Level 2 979 Derivatives (with hedges) 39 39 Level 2 39 Cash and cash equivalents 203,440 203,440 Liabilities Bonded loans (Schuldscheindarle- hen) at fixed interest rates AC 19,988 19,988 Level 3 20,781 at variable interest rates AC 165,385 165,385 Liabilities to banks at fixed interest rates AC 47,667 47,667 Level 3 47,744 at variable interest rates AC 65,596 65,596 Lease liabilities¹ 364,717 364,717 Other financial liabilities at fixed interest rates AC 946 946 Level 3 965 Trade payables AC 1,580,805 1,580,805 Other financial liabilities AC 55,765 55,765 Derivatives (without hedges) FVTPL 2,327 2,327 Level 2 2,327 Derivatives (with hedges) 1,634 1,634 Level 2 1,634 by category Financial assets at amortised cost AC 1,487,732 1,487,732 Cash and cash equivalents 203,440 203,440 Financial assets at fair value through profit & loss FVTPL 29,045 29,045 Financial liabilities at fair value through profit & loss FVTPL 2,327 2,327 Financial assets at fair value through OCI FVTOCI 57,354 57,354 Financial liabilities at amortised cost AC 1,936,152 1,936,152 1 Lease liabilities are subject to application of IFRS 16 PORR Half-Year Report 2026 ONE STEP AHEAD 34
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in TEUR Measure- ment cate- gory as per IFRS 9 Carrying amount as of 31.12. 2025 Measured at amor- tised cost Fair value through other com- prehensive income Fair value through profit and loss Fair value hierarchy Fair value as of 31.12. 2025 Assets Other financial investments - Shareholdings FVTOCI 871 871 Level 3 871 Other financial investments - Debt instruments/other investments FVTPL 1,911 1,911 Level 3 1,911 Other financial investments - Debt instruments/other investments FVTPL 79 79 Level 1 79 Trade receivables AC 968,209 968,209 Other financial assets - oans and receivables AC 302,199 302,199 Other financial assets - Investment certificates FVTPL 241 241 Level 1 241 Other financial assets - Loans to companies for other share- holdings FVTPL 25,814 25,814 Level 3 25,814 Derivatives (without hedges) FVTPL 141 141 Level 2 141 Cash and cash equivalents 748,427 748,427 Liabilities Bonded loans (Schuldscheindarle- hen) at fixed interest rates AC 27,986 27,986 Level 3 29,290 at variable interest rates AC 165,372 165,372 Liabilities to banks at fixed interest rates AC 28,539 28,539 Level 3 26,743 at variable interest rates AC 59,367 59,367 Lease liabilities¹ 373,887 373,887 Other financial liabilities at fixed interest rates AC 463 463 Level 3 470 Trade payables AC 1,222,348 1,222,348 Other financial liabilities AC 37,642 37,642 Derivatives (without hedges) FVTPL 1,504 1,504 Level 2 1,504 Derivatives (with hedges) 2,355 2,355 Level 2 2,355 by category Financial assets at amortised cost AC 1,270,408 1,270,408 Cash and cash equivalents 748,427 748,427 Financial assets at fair value through profit & loss FVTPL 28,186 28,186 Financial liabilities at fair value through profit & loss FVTPL 1,504 1,504 Financial assets at fair value through OCI FVTOCI 871 871 Financial liabilities at amortised cost AC 1,541,717 1,541,717 1 Lease liabilities are subject to application of IFRS 16 35 ONE STEP AHEAD GROUP MANAGEMENT REPORT CONSOLIDATED STATEMENTS FURTHER INFORMATION
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12. Segment report The segment reporting has been prepared in accordance with the internal reporting structure and management of the PORR Group. in TEUR 1–6/2025 AT / CH DE PL CEE Infrastruc- ture Inter- national Holding Group Production output (Group) 1,371,239 663,954 514,772 292,259 274,573 49,800 3,166,597 Segment revenue 1,220,883 606,153 488,328 318,800 259,900 31,255 2,925,319 Intersegment revenue 20,928 14,871 3,251 9 - 86,266 EBIT (Earnings before interest and tax = segment earnings) 43,064 9,339 11,536 12,631 -2,355 -17,939 56,276 in TEUR 1–6/2025 AT / CH DE PL CEE Infrastruc- ture Inter- national Holding Group Production output (Group) 1,361,448 800,580 422,949 284,310 260,328 41,510 3,171,125 Segment revenue 1,176,180 816,881 399,433 302,589 233,338 30,786 2,959,207 Intersegment revenue 38,169 10,675 201 35 - 83,792 EBIT (Earnings before interest and tax = segment earnings) 43,947 4,236 11,045 5,527 733 -16,789 48,699 13. Related party disclosures There have been no material changes in relationships between affiliated companies or any resultant obligations or guarantees since 31 December 2025. Transactions in the reporting period between companies included in the PORR Group’s consolidated financial statements and the UBM Group companies primarily relate to purchased construction services. With an agreement dated 3 June 2026, PORR AG subscribed for deeply subordinated hybrid capital of UBM Development AG in the amount of TEUR 56,400. The instrument bears interest at an annual coupon rate of 9.0%. No other material transactions with related parties were carried out during the reporting period. In addition to subsidiaries and associates, related parties include the companies of the IGO Industries Group as they or their controlling entity has a significant influence over PORR AG through the shares they hold as well as the Strauss Group, as a member of the Executive Board of PORR AG also has significant influence over it. In addition to people who have significant influence over PORR AG, related parties also include the members of the Executive and Supervisory Boards of PORR AG as well as their close family members. Other transactions with related parties By assignment agreement dated 30 March 2026, 23% of the shares in each of the following were acquired from UBM Group: Warsaw Office sp. z o.o. at a purchase price of TEUR 1,595 including assumption of loans, Berlin Office sp. z o.o. at a purchase price of TEUR 632 including assumption of loans, Poleczki Amsterdam Office sp. z o.o. at a purchase price of TEUR 3,696 including assumption of loans, and Poleczki Vienna Office sp. z o.o. at a purchase price of TEUR 6,213 including assumption of loans. With this, the PORR Group holds a total of 49% of the shares in the aforementioned companies. PORR Half-Year Report 2026 ONE STEP AHEAD 36
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14. Audit disclosure These interim financial statements of the PORR Group have neither been audited nor subjected to an audit review. 15. Events after the end of the reporting period No events requiring disclosure occurred after the reporting date. 27 August 2026, Vienna The Executive Board Karl-Heinz Strauss m.p Klemens Eiter m.p. Claude-Patrick Jeutter m.p. Josef-Dieter Deix m.p. 37 ONE STEP AHEAD GROUP MANAGEMENT REPORT CONSOLIDATED STATEMENTS FURTHER INFORMATION
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We confirm to the best of our knowledge that the condensed interim financial statements give a true and fair view of the assets, liabilities, financial position and profit or loss of the Group as required by the applicable accounting standards and that the half-year Group management report gives a true and fair view of the assets, liabilities, financial position and profit or loss of the Group regarding important events that have occurred during the first six months of the financial year and their impact on the condensed interim financial statements and of the principal risks and uncertainties for the remaining six months of the financial year and of the material related party transactions to be disclosed. August 2026, Vienna Karl-Heinz Strauss Chairman of the Executive Board and CEO Klemens Eiter Executive Board Member and CFO Claude-Patrick Jeutter Executive Board Member and COO Josef-Dieter Deix Executive Board Member and COO STATEMENT OF ALL LEGAL REPRESENTATIVES PORR Half-Year Report 2026 ONE STEP AHEAD 38
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FINANCIAL CALENDER 18.11.2026 Interest payment hybrid bond 2021 19.11.2026 Publication report on Q3 2026 06.02.2027 Interest payment hybrid bond 2024 31.03.2027 Publication Annual and Sustainability Report 2026 31.03.2027 Press conference on the Annual and Sustainability Report 2026 08.05.2027 Record date for participation in the 147th Annual General Meeting 18.05.2027 147th Annual General Meeting 24.05.2027 Trade ex dividend on the Vienna Stock Exchange 25.05.2027 Record date dividend 26.05.2027 Date of dividend payment for the 2026 fiscal year 26.05.2027 Publication trading statement Q1 2027 26.08.2027 Publication half-year report 2027 18.11.2027 Interest payment hybrid bond 2021 18.11.2027 Publication report on Q3 2027 CONTACT Investor Relations ir@porr-group.com Group Communications comms@porr-group.com The report on the first half of 2026 can be requested free of charge from the company, Absberggasse 47, 1100 Vienna, and can also be downloaded from https://porr-group.com/en/ir-interimreports/. ACKNOWLEDGEMENTS Media Proprietor PORR AG Absberggasse 47, 1100 Wien T +43 50 626-0 office@porr-group.com porr-group.com Concept, Text, Design and Editing PORR AG . Investor Relations, Group Communications Mensalia Unternehmensberatungs GmbH, Vienna Produced with ns.publish byMultimedia Solutions AG, Zurich Photos MW Architekturfotografie (Supergrätzl Vienna – cover), Astrid Knie (Executive Board photoshoot 2025 – p. 2), PORR (ElbX Wewelsfleth, Asphalt – p. 3) EcoVadis (badge – p.3), Wolfgang Gollmayer (consortium H53 Brenner Base Tunnel – p.6, 7), Mila Motions (Knape Bahnbau, p.18, 19) 39 ONE STEP AHEAD GROUP MANAGEMENT REPORT CONSOLIDATED STATEMENTS FURTHER INFORMATION
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Disclaimer This half-year report also contains statements relating to the future which are based on estimates and assumptions which are made by the management to the best of their current knowledge. Future-related statements may be identified as such by expressions such as “expected”, “target” or similar constructions. Forecasts related to the future development of the Group take the form of estimates based on information available at the time of the interim report going to press. Actual results may differ from the forecast if they are shown to be based on inaccurate assumptions or are subject to unforeseen risks. Every care has been taken to ensure that all information contained in every part of this half-year report is accurate and complete. The figures have been rounded off using the compensated summation method. We cannot rule out possible round-off, typesetting and printing errors. This report is a translation into English of the half-year report issued in the German language and is provided solely for the convenience of English-speaking users. In the event of a discrepancy or translation error, the German-language version prevails. PORR Half-Year Report 2026 ONE STEP AHEAD 40
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PORR AG Absberggasse 47, 1100 Vienna T +43 50 626-0 porr-group.com