Interim report
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for the period of 6 months ended 30 June 2026 Financial Report Asseco Group
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I 2 Asseco Group Financial Report for the period of 6 months ended 30 June 2026 (in PLN millions) *refers to proprietary software and services Present in 56 countries PLN 9 , 250 million in sales revenues 3 0, 932 highly committed employees PLN 430 million of net profit for Shareholders of the Parent Company PLN 13, 416 million in order backlog* for 2026 PLN 19. 7 billion in market capitalization** ** as at 25 August 2026
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I 3 Asseco Group Financial Report for the period of 6 months ended 30 June 2026 (in PLN millions) Asseco Group Financial Report for the period of 6 months ended 30 June 2026 FINANCIAL HIGHLIGHTS .......................................................................................................................................... 5 INTERIM CONDENSED CONSOLIDATED FINANCIAL STATEMENTS OF ASSECO GROUP FOR THE PERIOD OF 6 MONTHS ENDED 30 JUNE 2026 ................................ ................................ ................................ ................................ .......................... 6 INTERIM CONSOLIDATED STATEMENT OF PROFIT OR LOSS AND OTHER COMPREHENSIVE INCOME ............................................ 7 INTERIM CONSOLIDATED STATEMENT OF FINANCIAL POSITION ......................................................................................... 9 INTERIM CONSOLIDATED STATEMENT OF CHANGES IN EQUITY ........................................................................................ 11 INTERIM CONSOLIDATED STATEMENT OF CASH FLOWS ................................................................................................. 13 EXPLANATORY NOTES TO THE INTERIM CONDENSED CONSOLIDATED FINANCIAL STATEMENTS ................................................ 16 1. GENERAL INFORMATION ................................ ................................ ................................ ................................ ................................ .. 16 2. BASIS FOR THE PREPARATION OF INTERIM CONDENSED CONSOLIDATED FINANCIAL STATEMENTS ................... 17 2.1. Basis for preparation .......................................................................................................................... 17 2.2. Impact of the geopolitical situation on the Group’s business operations ......................................... 17 2.3. Compliance statement ....................................................................................................................... 18 2.4. Functional currency, presentation currency and hyperinflation ........................................................ 18 2.5. Professional judgement and estimates .............................................................................................. 18 2.6. Accounting policies applied ............................................................................................................... 19 2.7. New standards and interpretations issued but not in force yet ........................................................ 20 2.8. Changes in the accounting policies and presentation methods applied............................................ 21 2.9. Correction of errors ........................................................................................................................... 21 2.10. Restatement of comparable data and discontinued operations ........................................................ 21 2.11. Effects of Turkey’s status as a hyperinflationary economy ................................................................ 23 3. ORGANIZATION AND CHANGES IN THE STRUCTURE OF ASSECO GROUP, INCLUDING THE ENTITIES SUBJECT TO CONSOLIDATION ................................ ................................ ................................ ................................ ............................. 25 4. INFORMATION ON OPERATING SEGMENTS ................................ ................................ ................................ ............................. 34 5. EXPLANATORY NOTES TO THE CONSOLIDATED STATEMENT OF PROFIT OR LOSS ................................ ..................... 37 5.1. Structure of operating revenues ........................................................................................................ 37 5.2. Structure of operating costs............................................................................................................... 40 5.3. Other operating income and expenses .............................................................................................. 41 5.4. Financial income and expenses ......................................................................................................... 42 5.5. Corporate income tax ........................................................................................................................ 43 5.6. Earnings per share ............................................................................................................................. 44 5.7. Information on dividends paid out .................................................................................................... 44 6. EXPLANATORY NOTES TO THE CONSOLIDATED STATEMENT OF FINANCIAL POSITION ................................ ........... 45 6.1. Intangible assets ................................................................................................................................ 45 6.2. Right-of-use assets ............................................................................................................................. 45 6.3. Goodwill ............................................................................................................................................. 46 6.4. Impairment tests ................................................................................................................................ 49 6.5. Entities with significant non-controlling interests ............................................................................. 51 6.6. Receivables and contract assets ........................................................................................................ 52 6.7. Other assets ....................................................................................................................................... 53 6.8. Inventories ......................................................................................................................................... 55 6.9. Cash and bank deposits ..................................................................................................................... 55 6.10. Treasury shares .................................................................................................................................. 56 6.11. Bank loans, borrowings and debt securities ...................................................................................... 56 6.12. Lease liabilities ................................................................................................................................... 58
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I 4 Asseco Group Financial Report for the period of 6 months ended 30 June 2026 (in PLN millions) 6.13. Other financial liabilities .................................................................................................................... 59 6.14. Trade payables, state budget liabilities and other liabilities .............................................................. 60 6.15. Contract liabilities .............................................................................................................................. 61 6.16. Provisions ........................................................................................................................................... 61 6.17. Accruals and deferred income ........................................................................................................... 62 6.18. Related party transactions ................................................................................................................. 62 7. EXPLANATORY NOTES TO THE CONSOLIDATED STATEMENT OF CASH FLOWS ................................ ........................... 64 7.1. Cash flows – operating activities ........................................................................................................ 64 7.2. Cash flows – investing activities ......................................................................................................... 64 7.3. Cash flows – financing activities ........................................................................................................ 65 8. OTHER EXPLANATORY NOTES ................................ ................................ ................................ ................................ ........................ 67 8.1. Off-balance-sheet liabilities ............................................................................................................... 67 8.2. Seasonal and cyclical business ........................................................................................................... 68 8.3. Employment ....................................................................................................................................... 68 8.4. Significant events after the reporting period ..................................................................................... 69 8.5. Significant events related to prior years ............................................................................................ 69 APPROVAL FOR PUBLICATION BY THE MANAGEMENT BOARD ................................ ................................ ................................ 70
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I 5 Asseco Group Financial Report for the period of 6 months ended 30 June 2026 (in PLN millions) Financial Highlights Asseco Group The following table presents the selected financial data of Asseco Group. 6 months ended 6 months ended 6 months ended 6 months ended 30 June 2026 30 June 2025 30 June 2026 30 June 2025 (restated) (restated) PLN mn PLN mn EUR mn EUR mn Operating revenues 9,250.4 7,987.0 2,175.4 1,892.3 Operating profit 1,082.7 786.2 254.6 186.3 Pre-tax profit before share of profits of associates and joint ventures 1,063.4 696.2 250.1 164.9 Net profit for the reporting period from continuing operations 873.3 539.4 205.4 127.8 Net profit for the reporting period 873.3 659.1 205.4 156.2 Net profit attributable to Shareholders of the Parent Company 429.6 282.0 101.0 66.8 Net cash provided by operating activities 194.7 799.8 45.8 189.5 Net cash used in investing activities (460.9) (524.4) (108.4) (124.2) Net cash used in financing activities (2,115.7) (1,003.9) (497.6) (237.8) Cash and bank deposits (comparable data as at 31 December 2025) 5,104.7 7,246.0 1,188.2 1,714.3 Basic and diluted earnings per ordinary share attributable to Shareholders of the Parent Company (in PLN/EUR) 5.34 4.14 1.26 0.98 Basic and diluted earnings per ordinary share from continuing operations attributable to Shareholders of the Parent Company (in PLN/EUR) 5.34 3.94 1.26 0.93 The selected financial data disclosed in these interim condensed consolidated financial statements have been translated into euros (EUR) in the following way: ▪ Items in the interim consolidated statement of profit or loss and the statement of cash flows have been translated at the arithmetic average of mid exc hange rates as published by the National Bank of Poland and in effect on the last day of each month. These exchange rates were respectively: o for the period from 1 January 2026 to 30 June 2026: EUR 1 = PLN 4.2522, o for the period from 1 January 2025 to 30 June 2025: EUR 1 = PLN 4.2208. ▪ The Group’s cash and cash equivalents as at the end of the reporting period and the comparable period of the previous year have been translated at daily mid exchange rates as publis hed by the National Bank of Poland. These exchange rates were respectively: o exchange rate effective on 30 June 2026: EUR 1 = PLN 4.2963, o exchange rate effective on 31 December 2025: EUR 1 = PLN 4.2267. All figures in this report are presented in millions of Polish zlotys (PLN mn), unless stated otherwise.
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I 6 Asseco Group Financial Report for the period of 6 months ended 30 June 2026 (in PLN millions) Interim Condensed Consolidated Financial Statements of Asseco Group for the period of 6 months ended 30 June 2026 Interim Condensed Consolidated Financial Statements of Asseco Group for the period of 6 months ended 30 June 2026
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I 7 Asseco Group Financial Report for the period of 6 months ended 30 June 2026 (in PLN millions) Interim Consolidated Statement of Profit or Loss and Other Comprehensive Income Asseco Group STATEMENT OF PROFIT OR LOSS Note 3 months ended 6 months ended 3 months ended 6 months ended 30 June 2026 30 June 2026 30 June 2025 30 June 2025 (restated*) (restated*) PLN mn PLN mn PLN mn PLN mn Operating revenues 5.1 4,851.0 9,250.4 3,943.2 7,987.0 Cost of sales 5.2 (3,724.1) (7,105.3) (3,095.0) (6,276.4) Gross profit on sales 1,126.9 2,145.1 848.2 1,710.6 Selling costs 5.2 (238.5) (456.9) (200.2) (411.6) General and administrative expenses 5.2 (294.7) (570.9) (247.6) (497.9) Net profit on sales 593.7 1,117.3 400.4 801.1 Other operating income 5.3 13.8 35.7 15.6 28.2 Other operating expenses 5.3 (37.4) (70.3) (16.1) (43.1) Operating profit 570.1 1,082.7 399.9 786.2 Financial income 5.4 81.9 165.0 36.0 85.0 Financial expenses 5.4 (94.2) (184.3) (94.8) (175.0) Pre-tax profit before share of profits of associates and joint ventures 557.8 1,063.4 341.1 696.2 Corporate income tax 5.5 (148.7) (251.1) (81.4) (161.3) Share of profits of associates and joint ventures (net of income taxes) (1.2) 61.0 0.1 4.5 Net profit for the reporting period from continuing operations 407.9 873.3 259.8 539.4 Net profit for the reporting period from discontinued operations - - 49.2 119.7 Net profit for the reporting period 407.9 873.3 309.0 659.1 Attributable to: Shareholders of the Parent Company, of which: 201.2 429.6 145.8 282.0 from continuing operations 201.2 429.6 140.2 268.7 from discontinued operations - - 5.6 13.3 Non-controlling interests, of which: 206.7 443.7 163.2 377.1 from continuing operations 6.5 206.7 443.7 119.6 270.7 from discontinued operations - - 43.6 106.4 Earnings per share Basic and diluted consolidated earnings per share attributable to shareholders of the Parent Company (in PLN), of which: 5.6 2.50 5.34 2.14 4.14 from continuing operations 5.6 2.50 5.34 2.06 3.94 from discontinued operations 5.6 - - 0.08 0.20 * The restatement has been disclosed in detail in explanatory note 2.10 to these interim condensed consolidated financial statements.
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I 8 Asseco Group Financial Report for the period of 6 months ended 30 June 2026 (in PLN millions) OTHER COMPREHENSIVE INCOME 3 months ended 6 months ended 3 months ended 6 months ended 30 June 2026 30 June 2026 30 June 2025 30 June 2025 (restated) (restated) PLN mn PLN mn PLN mn PLN mn Net profit for the reporting period 407.9 873.3 309.0 659.1 Components that may be reclassified to profit or loss Reversal of the impact of hyperinflation due to sale of a subsidiary company - - - (2.2) Gain/(Loss) on valuation of cash flow hedging instruments (9.9) (10.6) (1.5) (1.8) Exchange differences on translation of foreign operations 117.7 426.4 (52.1) (395.2) Components that will not be reclassified to profit or loss Gain/(Loss) on valuation/sale of financial assets* 4.7 (5.4) 4.6 0.7 Actuarial gains/(losses) 0.5 3.4 0.2 2.1 Income tax relating to other comprehensive income that will not be reclassified (0.1) (0.8) 4.1 3.6 Other changes in equity of companies consolidated using the equity method 0.7 0.7 (4.1) (3.8) Total other comprehensive income from continuing operations 113.6 413.7 (48.8) (396.6) Other comprehensive income from discontinued operations - - (8.7) 6.6 Total other comprehensive income 113.6 413.7 (57.5) (390.0) TOTAL COMPREHENSIVE INCOME attributable to: 521.5 1,287.0 251.5 269.1 Shareholders of the Parent Company, of which: 224.1 604.8 127.1 161.7 from continuing operations 224.1 604.8 135.1 168.1 from discontinued operations - - (8.0) (6.4) Non-controlling interests, of which: 297.4 682.2 124.4 107.4 from continuing operations 297.4 682.2 125.1 94.4 from discontinued operations - - (0.7) 13.0 * In the current reporting period, this line includes the gain/(loss) on valuation of equity instruments held as at the reporti ng date.
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I 9 Asseco Group Financial Report for the period of 6 months ended 30 June 2026 (in PLN millions) Interim Consolidated Statement of Financial Position Asseco Group ASSETS Note 30 June 2026 31 December 2025 (restated*) PLN mn PLN mn Non-current assets Property, plant and equipment 937.4 883.2 Intangible assets 6.1 1,598.4 1,524.3 Right-of-use assets 6.2 879.7 839.9 Goodwill 6.3 5,837.9 5,558.7 Investments accounted for using the equity method 262.2 193.6 Other receivables and trade receivables 6.6 75.3 78.1 Deferred tax assets 188.6 168.9 Prepayments and accrued income 135.7 116.0 Other assets 6.7 1,275.3 1,216.0 11,190.5 10,578.7 Current assets Inventories 6.8 392.6 324.2 Prepayments and accrued income 431.5 362.5 Trade receivables 6.6 4,510.8 3,792.9 Contract assets 6.6 573.7 379.1 Corporate income tax receivable 6.6 71.0 96.5 Receivables from the state and local budgets and other receivables 6.5 217.3 166.3 Other assets 6.7 276.5 88.3 Cash and bank deposits 6.9 5,104.7 7,246.0 11,578.1 12,455.8 Assets held for sale 5.4 5.3 11,583.5 12,461.1 TOTAL ASSETS 22,774.0 23,039.8 * The restatement has been disclosed in detail in explanatory note 2.10 to these interim condensed consolidated financial statements.
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I 10 Asseco Group Financial Report for the period of 6 months ended 30 June 2026 (in PLN millions) Interim Consolidated Statement of Financial Position Asseco Group EQUITY AND LIABILITIES Note 30 June 2026 31 December 2025 (restated*) PLN mn PLN mn Equity (attributable to shareholders of the Parent Company) Share capital 83.0 83.0 Share premium 4,180.1 4,180.1 Treasury shares 6.10 (199.5) (199.5) Transactions with non-controlling interests (224.1) (199.9) Exchange differences on translation of foreign operations 88.4 (91.1) Retained earnings and other capitals 3,030.7 3,650.2 6,958.6 7,422.8 Non-controlling interests 6.5 5,178.0 5,446.3 Total equity 12,136.6 12,869.1 Non-current liabilities Bank loans, borrowings and debt securities 6.11 1,440.3 1,323.0 Lease liabilities 6.12 635.1 618.2 Other financial liabilities 6.13 366.8 403.8 Deferred tax liabilities 496.2 457.2 Contract liabilities 6.15 178.4 111.9 Other liabilities and trade payables 6.14 4.8 5.5 Provisions 6.16 74.2 63.7 Accruals and deferred income 6.17 55.1 53.0 3,250.9 3,036.3 Current liabilities Bank loans, borrowings and debt securities 6.11 1,313.4 1,139.6 Lease liabilities 6.12 249.2 227.8 Other financial liabilities 6.13 573.3 417.9 Trade payables 6.14 1,939.0 1,958.8 Contract liabilities 6.15 1,369.4 1,082.6 Corporate income tax payable 6.14 197.0 589.9 Other liabilities to the state and local budgets 6.14 280.3 369.3 Other liabilities 6.14 729.8 647.4 Provisions 6.16 39.9 45.7 Accruals and deferred income 6.17 695.2 655.4 7,386.5 7,134.4 TOTAL LIABILITIES 10,637.4 10,170.7 TOTAL EQUITY AND LIABILITIES 22,774.0 23,039.8 * The restatement has been disclosed in detail in explanatory note 2.10 to these interim condensed consolidated financial statements.
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I 11 Asseco Group Financial Report for the period of 6 months ended 30 June 2026 (in PLN millions) Interim Consolidated Statement of Changes in Equity Asseco Group Note Share capital Share premium Treasury shares Transactions with non-controlling interests Exchange differences on translation of foreign operations Retained earnings and other capitals Equity attributable to shareholders of the Parent Company Non-controlling interests Total equity PLN mn PLN mn PLN mn PLN mn PLN mn PLN mn PLN mn PLN mn PLN mn As at 1 January 2026 (restated*) 83.0 4,180.1 (199.5) (199.9) (91.1) 3,650.2 7,422.8 5,446.3 12,869.1 Net profit for the reporting period - - - - - 429.6 429.6 443.7 873.3 Other comprehensive income for the reporting period - - - - 179.5 (4.3) 175.2 238.5 413.7 Total comprehensive income for the reporting period - - - - 179.5 425.3 604.8 682.2 1,287.0 Dividend for the year 2025 5.7 - - - - - (1,050.7) (1,050.7) (853.9) (1,904.6) Share-based payment transactions with employees - - - - - - - 22.2 22.2 Transactions with non-controlling interests (including contingent financial liabilities to non-controlling shareholders (put options)) - - - (24.2) - - (24.2) (200.3) (224.5) Obtaining control over subsidiaries - - - - - - - 40.5 40.5 Loss of control over subsidiaries - - - - - - - (1.0) (1.0) Bonds convertible into shares – equity component - - - - - 5.9 5.9 42.0 47.9 As at 30 June 2026 83.0 4,180.1 (199.5) (224.1) 88.4 3,030.7 6,958.6 5,178.0 12,136.6 * The restatement has been disclosed in detail in explanatory note 2.10 to these interim condensed consolidated financial statements.
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I 12 Asseco Group Financial Report for the period of 6 months ended 30 June 2026 (in PLN millions) Interim Consolidated Statement of Changes in Equity Asseco Group Note Share capital Share premium Treasury shares Transactions with non-controlling interests Exchange differences on translation of foreign operations Retained earnings and other capitals Equity attributable to shareholders of the Parent Company Non-controlling interests Total equity PLN mn PLN mn PLN mn PLN mn PLN mn PLN mn PLN mn PLN mn PLN mn As at 1 January 2025 83.0 4,180.1 (1,186.2) (269.1) (40.9) 2,729.1 5,496.0 4,151.9 9,647.9 Net profit for the reporting period - - - - - 282.0 282.0 377.1 659.1 Other comprehensive income for the reporting period - - - - (117.2) (3.1) (120.3) (269.7) (390.0) Total comprehensive income for the reporting period - - - - (117.2) 278.9 161.7 107.4 269.1 Dividend for the year 2024 5.7 - - - - - (268.7) (268.7) (379.5) (648.2) Equity-settled share-based payment transactions - - - - - - - 38.7 38.7 Transactions with non-controlling interests (including contingent financial liabilities to non-controlling shareholders (put options)) - - - (13.8) - - (13.8) (125.5) (139.3) Obtaining control over subsidiaries - - - (4.0) - - (4.0) 14.2 10.2 As at 30 June 2025 (restated) 83.0 4,180.1 (1,186.2) (286.9) (158.1) 2,739.3 5,371.2 3,807.2 9,178.4
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I 13 Asseco Group Financial Report for the period of 6 months ended 30 June 2026 (in PLN millions) Interim Consolidated Statement of Cash Flows Asseco Group Note 6 months ended 6 months ended 30 June 2026 30 June 2025 (restated*) PLN mn PLN mn Cash flows – operating activities Pre-tax profit before share of profits of associates and joint ventures 1,063.4 696.2 Total adjustments: (207.4) 189.0 Depreciation and amortization 381.8 369.9 Changes in working capital 7.1 (692.2) (332.3) Interest (income)/expenses 85.1 96.8 (Gain)/Loss on foreign exchange differences (22.5) 7.9 Other financial (income)/expenses (3.8) 8.8 (Income)/Expenses related to company acquisitions (incl. valuation of liabilities under put options and contingent liabilities) 2.6 (1.0) (Gain)/Loss on loss of control over subsidiaries (2.9) 8.6 Impairment losses on goodwill 8.8 - Costs of share-based payment transactions 22.7 34.3 (Gain)/Loss on property, plant and equipment 8.2 (2.0) (Gain)/Loss on hyperinflation (12.2) (8.2) Dividends payable to non-controlling interests 17.0 6.2 Cash generated from operating activities from continuing operations 856.0 885.2 Corporate income tax paid (211.7) (190.2) Net cash provided by operating activities from continuing operations 644.3 695.0 Net cash provided by (used in) operating activities from discontinued operations 7.1 (449.6) 104.8 Net cash provided by operating activities 194.7 799.8 Cash flows – investing activities Inflows Disposal of property, plant and equipment, intangible assets, and investment property 7.0 8.2 Proceeds from sale of shares in related entities, net of cash and cash equivalents in subsidiaries sold 2.0 2.4 Proceeds from disposal/settlement of financial assets carried at fair value as well as other financial assets carried at amortized cost 43.5 14.9 Bank deposits exceeding 3 months completed and loans collected 7.2 676.7 18.4 Interest received 6.6 2.2 Dividends received (from associates and/or joint ventures) 0.9 21.0 Outflows Acquisition of property, plant and equipment and intangible assets (including expenditures for development projects) 7.2 (134.0) (148.6) Acquisition of subsidiaries and associates, net of cash and cash equivalents in subsidiaries acquired 7.2 (164.1) (153.7) Acquisition/Settlement of financial assets carried at fair value, as well as acquisition of other financial assets carried at amortized cost (47.2) (4.7) Bank deposits exceeding 3 months placed and loans granted 7.2 (852.3) (22.3) Net cash used in investing activities from continuing operations (460.9) (262.2) Net cash used in investing activities from discontinued operations - (262.2) Net cash used in investing activities (460.9) (524.4)
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I 14 Asseco Group Financial Report for the period of 6 months ended 30 June 2026 (in PLN millions) Cash flows – financing activities Inflows Proceeds from bank loans and borrowings 7.3 497.1 305.0 Proceeds from issuance of debt securities 7.3 360.1 - Proceeds from sale of non-controlling interests 3.9 4.5 Other cash flows from financing activities 1.5 0.1 Outflows Expenditures for acquisition of non-controlling interests 7.3 (190.5) (85.3) Redemption of debt securities 7.3 (41.1) (36.6) Repayments of bank loans and borrowings 7.3 (644.3) (262.6) Payments of lease liabilities (142.8) (121.3) Interest paid (including interest on leases) (88.0) (87.9) Dividends paid out by the Parent Company 5.7 (1,050.7) (268.7) Dividends paid out to non-controlling interests (820.9) (276.1) Other cash flows from financing activities - (5.0) Net cash used in financing activities from continuing operations (2,115.7) (833.9) Net cash used in financing activities from discontinued operations - (170.0) Net cash used in financing activities (2,115.7) (1,003.9) Net increase/(decrease) in cash and cash equivalents (2,381.9) (728.5) Net foreign exchange differences 263.3 (163.1) Net cash and cash equivalents as at 1 January 7,147.2 3,213.6 Net cash and cash equivalents as at 30 June 6.9 5,028.6 2,322.0 * The restatement has been disclosed in detail in explanatory note 2.10 to these interim condensed consolidated financial statements.
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I 15 Asseco Group Financial Report for the period of 6 months ended 30 June 2026 (in PLN millions) Explanatory notes to the Interim Condensed Consolidated Financial Statements of Asseco Group
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I 16 Asseco Group Financial Report for the period of 6 months ended 30 June 2026 (in PLN millions) Explanatory notes to the Interim Condensed Consolidated Financial Statements 1. General information Asseco Group (“Asseco Group” or the “Group”) is a group of companies, whose Parent Company is Asseco Poland S.A. (the “Parent Company”, “Company” or “Issuer”). General information on the Parent Company Name Asseco Poland S.A. Registered seat 14 Olchowa St., Rzeszów, Poland National Court Register number 0000033391 Statistical ID number (REGON) 010334578 Tax Identification Number (NIP) 522-000-37-82 Core business Production of software The Parent Company was established on 18 January 1989. On 4 January 2007, the Issuer changed its corporate name from Softbank S.A. to Asseco Poland S.A. The period of the Company’s operations is indefinite. Since 1998, the Company’s shares have been listed on the main market of the Warsaw Stock Exchange S.A. Asseco Poland S.A. stands at the forefront of the multinational Asseco Group which, along with its subsidiaries, is present in 56 countries around the world, primarily in Europe, Israel and the USA. Asseco Group is one of the leading software producers in Europe as well as the largest provider of innovative IT solutions in Central and Eastern Europe. As a leader of the Group, Asseco Poland S.A. is actively engaged in business acquisitions both in the domestic and foreign markets, seeking to strengthen its position across Europe and worldwide. Now the Company is expanding its investment spectrum for software houses, with an eye to gain insight into their local markets and customers, as well as access to innovative and unique IT solutions. Our comprehensive offering includes products dedicated for the sectors of finance and banking, public administration, as well as industry, trade, and services. The Group has got a wide -range portfolio of proprietary products, unique competence and experience in the execution of complex IT projects, and a broad customer base, including the largest financial institutions, major industrial enterprises as well as public administration bodies.
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I 17 Asseco Group Financial Report for the period of 6 months ended 30 June 2026 (in PLN millions) 2. Basis for the preparation of interim condensed consolidated financial statements 2.1. Basis for preparation These interim condensed consolidated financial statements have been prepared in accordance with the historical cost convention, except for financial assets carried at fair value through profit or loss or through other comprehensive income, financial liabilities carried at fair value through profit or loss, as well as investment property which are measured at fair value. In addition, our subsidiaries operating in a hyperinflationary economy (Turkey) restated their financial data, taking into account the change in purchasing power based on the general price index, so that they were expressed in the measuring units current at the end of the reporting period. The impact of hyperinflation on the interim condensed consolidated financial statements has been described in explanatory note 2.11. These interim condensed consolidated financial statements have been prepared on a going -concern basis, assuming the Group will continue its business activities over a period not shorter than 12 months from 30 June 2026. Till the date of preparing these interim condensed consolidated financial statements, we have not observed any circumstances that would threaten the Group’s ability to continue as a going concern. These interim condensed consolidated financial statements do not include all information and disclosures required for annual consolidated financial statements, and therefore they should be read together with the Group’s consolidated financial statements for the year ended 31 December 2025 which were published on 31 March 2026. 2.2. Impact of the geopolitical situation on the Group’s business operations As at the date of publication of these interim condensed consolidated financial statements, based on the conducted analysis of risks including those arising from the current geopolitical situation, the Management Board concluded that the Group’s ability to continue as a going concern over a period of at least 12 months from 30 June 2026 is not threatened. Ukraine and Russia The Russian invasion of Ukraine in February 2022 caused a radical change in th e geopolitical situation of the region in which the Parent Company and some of the Group’s companies operate. During the reporting period, Asseco Group did not conduct any significant business operations in Russia or in Belarus, nor did it keep any cash in Russian bank accounts. However, some companies of our Group, mainly in the Formula Systems segment, use services of software developers from Ukraine and Russia. Moreover, ASEE Group has one subsidiary company based in Lviv, Ukraine but its impact of the financial results of ASEE Group and Asseco Group is not material. Israel and the Middle East As a consequence of the attack on Israel by the Hamas organization in October 2023 and the subsequent Israel’s military operation in the territory of Palestine, as well as the continued escalation of the armed conflict in the Middle East since February 2026, geopolitical risks in the region have increased significantly. This is particularly relevant to the Group given the operations of many companies of the Formula Systems segment in Israel. At the date of publication of these financial statements, the Group has not identified any material direct impact of the escalation of the conflict on its business operations. The Formula Group companies have implemented business continuity programmes, and all companies within the Formula Systems segment conduct their operational activities and fulfil their contractual obligations in line with the terms of their contracts. Assessment of impact on the Group At the date of publication of these interim condensed consolidated financial statements, the Group has not observed any material impact of the war in Ukraine, sanctions imposed on Russia or the Middle East conflict on the Group’s operations and the financial data presented in this report. Given the high level of uncertainty surrounding future geopolitical developments, especially in the Middle East, currently it is not possible to reliably estimate the extent of its potential impact on the Group’s operations and financial results in subsequent reporting periods. The Management is monitoring developments on an ongoing basis, as well as their potential impact on the Group’s business.
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I 18 Asseco Group Financial Report for the period of 6 months ended 30 June 2026 (in PLN millions) 2.3. Compliance statement These interim condensed consolidated financial statements have been prepared in conformity with the requirements set forth in the International Accounting Standard 34 ‘Interim Financial Reporting’ as endorsed by the European Union (IAS 34). The scope of these interim condensed consolidated financial statements, being part of the quarterly report, is in accordance with Regulation of the Minister of Finance of 6 June 2025 regarding current and periodic information to be published by issuers of securities and conditions for recognizing as equivalent the information required by laws of non -EU member states (consolidated text: Journal of Laws of 2025, item 755) (“Regulation”), and covers the reporting period from 1 January to 30 June 2026 and the comparable period from 1 January to 30 June 2025 in case of the statement of profit or lo ss, statement of cash flows and the statement of changes in equity, as well as the financial position data as at 30 June 2026 and the comparable data as at 31 December 2025 in case of the statement of financial position. The cumulative data presented for the period of 6 months ended 30 June 2026 as well as for the comparable period have been reviewed by a certified auditor. Whereas, the quarterly data disclosed for the period from 1 April to 30 June 2026 and for the corresponding period of 2025 have not been subject to such a review. These data have been calculated as the difference between the semi -annual cumulative data and the data presented in the quarterly condensed consolidated financial statements of A sseco Group for the period of 3 months ended 30 March 2026 which were published on 27 May 2026. 2.4. Functional currency, presentation currency and hyperinflation The presentation currency of these interim condensed consolidated financial statements is the Polish zloty (PLN), and all figures are presented in PLN millions (PLN mn), unless stated otherwise. Any inaccuracies in totals, amounting to PLN 0.1 million, are due to the adopted rounding of numbers. The functional currency applied by the Parent Company and, at the same time, the presentation currency used in these interim condensed consolidated financial statements is the Polish zloty (PLN). Functional currencies applied by our subsidiaries consolidated in these interim condensed consolidated financial statements are the currencies of primary business environments in which they operate. For consolidation purposes, financial statements of our foreign subsidiaries are translated into PLN using the respective currency exchange rates as quoted by the National Bank of Poland at the end of the reporting period in case of the statement of financial position, or using the arithmetic average of such exchange rates as published by the National Bank of Poland and effective on the last day of each month during the reporting period in case of the statement of profit or loss and other comprehensive income, and the statement of cash flows. The effects of such conversion are recognized in equity as ‘exchange differences on translation of foreign operations’. As regards our subsidiaries operating in a hyperinflationary economy, individual items in the statement of profit or loss and other comprehensive income are translated into PLN using the respective currency exchange rates as quoted by the National Bank of Poland at the end of the reporting period. 2.5. Professional judgement and estimates Preparation of consolidated financial statements in accordance with IFRS requires making estimates and assumptions which have an impact on the data disclosed in these financial statements. Although the adopted assumptions and estimates have been based on the Group’s management best knowledge on the current activities and occurrences, the actual results may differ from those anticipated. Presented below are the main areas which in the process of applying the acco unting policies were subject to accounting estimates and the management’s professional judgement, and whose estimates, if changed, could significantly affect the Group’s future results. i. Consolidation of entities in which the Group holds less than 50% of total voting rights The Group’s Management has not changed its judgement regarding the existence of control over entities in which the Parent Company holds less than 50% of share capital in relation to such judgement that was described in detail in item 3.5 of section ‘Basis for the preparation of financial statements’ contained in the Group’s consolidated financial statements for the year ended 31 December 2025 which were published on 31 March 2026. Hence, in the Management’s opinion, the Parent Company maintained control over Formula Systems (1985) Ltd (hereinafter “Formula” or “Formula Systems”) in which the Group holds less than 50% of share capital.
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I 19 Asseco Group Financial Report for the period of 6 months ended 30 June 2026 (in PLN millions) The same conclusion applies to Matrix IT Ltd (hereinafter “Matrix IT”) in which direct equity interest held by Formula Systems does not provide an absolute majority of voting rights. The conclusion regarding the existence of control has also been upheld in the case of Asseco Business Solutions S.A., a direct subsidiary of Asseco Enterprise Solutions, a.s. in which the Group holds 47.61% of total voting rights at the general meeting of shareholders (percentage calculated excluding treasury shares). Similarly, the conclusion regarding the existence of control has been upheld in the case of NXTBK Inc., a subsidiary of Nextbank Software Sp. z o.o. in which the Group holds 39.9% of the share capital and total voting rights at the general meeting of shareholders. Consequently, all of the above -mentioned entities have been fully consolidated in these interim condensed consolidated financial statements of Asseco Group for the period of 6 months ended 30 June 2026. ii. Estimates In the period of 6 months ended 30 June 2026, our approach to making e stimates was not subject to any substantial modification. In relevant notes to these interim condensed consolidated financial statements, the Group has disclosed possible changes to estimates presented in previous reporting periods that h ave a significant impact on the current interim period. Significant accounting policies regarding the items that are at significant risk of material adjustment to the carrying amounts of assets and liabilities were described in item 3.5 in the consolidated financial statements of Asseco Group for the year ended 31 December 2025. iii. Hyperinflation The Management’s professional judgement and estimates additionally covered the operations conducted by our foreign subsidiaries in a hyperinflationary economy. It needed to be assessed whether the financial statements of such entities must be restated as required by IAS 29. The Management analyzed qualitative and quantitative factors (including whether the three -year cumulative inflation rate is approaching or exceeds 100%) which indicate the existence of hyperinflation and concluded that Turkey is a country with a hyperinflationary economy. As a consequence, the financial data of our subsidiaries operating in Turkey, as part of ASEE Group (the Asseco International segment), have been restated taking into account the change in purchasing power based on the general price index, so that they were expressed in the measuring units current at the end of the reporting period. The impact of hyperinflation on these interim condensed consolidated financial statements has been described in explanatory note 2.11. 2.6. Accounting policies applied Significant accounting policies applied by the Group in these interim condensed consolidated financial statements are consistent with those explained in the Group’s annual consolidated financial statements for the year 2025, except for the adoption of new or amended standards and interpretations effective for annual periods beginning on or after 1 January 2026. New standards or amendments effective from 1 January 2026: ▪ Amendments to IFRS 9 and IFRS 7 ‘Contracts Referencing Nature -dependent Electricity’ (issued on 18 December 2024) – effective for annual periods beginning on or after 1 January 2026; ▪ Amendments to IFRS 9 and IFRS 7 ‘Classification and Measurement of Fi nancial Instruments’ (issued on 30 May 2024) – effective for annual periods beginning on or after 1 January 2026; ▪ Annual Improvements to IFRS Accounting Standards – Volume 11 (issued on 18 July 2024) – effective for annual periods beginning on or after 1 January 2026. The amended standards and interpretations that were first applied in 20 26 had no significant impact on the interim condensed consolidated financial statements of the Group.
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I 20 Asseco Group Financial Report for the period of 6 months ended 30 June 2026 (in PLN millions) 2.7. New standards and interpretations issued but not in force yet The following standards and interpretations were issued by the International Accounting Standards Board (IASB) and International Financial Reporting Interpretations Committee (IFRIC), but have not yet come into force: ▪ IFRS 18 ‘Presentation and Disclosure in Financial Statements’ (issued on 9 April 2024) – effective for annual periods beginning on or after 1 January 2027; ▪ IFRS 19 ‘Subsidiaries without Public Accountability: Disclosures’ (issued on 9 May 2024) – not yet endorsed by the EU till the date of approval of these financial statements – effective for annual periods beginning on or after 1 January 2027; ▪ Amendments to IFRS 19 ‘Subsidiaries without Public Accountability: Disclosures’ (issued on 21 August 2025) – not yet endorsed by the EU till the date of approval of these financial statements – effective for annual periods beginning on or after 1 January 2027; ▪ Amendments to IAS 21 ‘The Effects of Changes in Foreign Exchange Rates: Translation to a Hyperinflationary Presentation Currency’ (issued on 13 November 2025) – not yet endorsed by the EU till the date of approval of these financial statements – effective for annual periods beginning on or after 1 January 2027; ▪ Amendments to IAS 28 ‘Fair Value Option for Investments in Associates an d Joint Ventures’ (issued on 26 Jun 2026) – not yet endorsed by the EU till the date of approval of these financial statements – effective for annual periods beginning on or after 1 January 2027; ▪ IFRS 20 ‘Regulatory Assets and Regulatory Liabilities’ (issued on 27 May 2026) – not yet endorsed by the EU till the date of approval of these financial statements – effective for annual period s beginning on or after 1 January 2029. The specified effective dates have been set forth in the standards published by the International Accounting Standards Board. The actual dates of adopting these standards in the European Union may differ from those set forth in the standards and they shall be announced once they are approved for application by the European Union. The Group did not decide on early adoption of any standard, interpretation or amendment which has been published but has not yet become effective. The Group is currently conducting an analysis of how the introduction of the above -mentioned standards and interpretations may affect the consolidated financial statements and accounting policies applied by the Group. The new IFRS 18 standard ‘Presentation and Disclosure in Financial Statements’ will be effective from 1 January 2027, replacing IAS 1. The main changes introduced by the new standard rel ate to the new structure of the statement of profit or loss (including the introduction of mandatory subtotals and classification of results into operating, investing, and financing activities, income tax and discontinued operations), the requirement to disclose management-defined performance measures (MPM), as well as the disclosure of expenses by nature – regardless of their presentation by function. Although the implementation of IFRS 18 will not affect the net profit (loss) for the period, it is expected that the reclassification of revenues and expenses into new categories in the statement of profit or loss will affect the amount of operating profit. The analysis carried out so far indicates that cha nges in the presentation of the statement of profit or loss will affect, among other items: • foreign exchange differences which are currently presented entirely in financial income or expenses but may be reclassified to new categories following the adoption of IFRS 18, depending on the nature of the transaction; • interest items which are currently presented entirely in financial income or expenses but may be reclassified to new categories following the adoption of IFRS 18, depending on the nature of the transaction; • valuation of forward derivatives which may require a different classification within the statement of comprehensive income. Our analysis of the full impact of the adoption of IFRS 18 is still underway. The Group is continuing to assess the impact on the presentation of profit and loss items, the classification of expenses, and the requirements to disclose management performance measures for revenues and expenses by nature.
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I 21 Asseco Group Financial Report for the period of 6 months ended 30 June 2026 (in PLN millions) 2.8. Changes in the accounting policies and presentation methods applied In the reporting period, the applied methods of presentation were not subject to any change. 2.9. Correction of errors In the reporting period, no events occurred that would require making corrections of any misstatements. 2.10. Restatement of comparable data and discontinued operations In the reporting period, the Group has restated the financial position data as at 31 December 2025 and 30 June 2025, as well as the data in the statement of profit or loss and the statement of cash flows for the period of 6 months ended 30 June 2025 due to changes in the values of assets and liabilities acquired that were recognized in the purchase price allocation of subsidiary companies in the Formula Systems segment and companies in the Asseco International segment. Additionally, in connection with the sale of a majority stake in Sapiens International Corporation N.V. (“Sapiens”) by Formula Systems (1985) Ltd, the activities of Sapiens Group were then classified as discontinued operations. This caused a restatement of individual items in the statement of profit or loss and other comprehensive income as well as in the statement of cash flows for the period of 6 months ended 30 June 2025, in accordance with the requirements of IFRS 5. The Group’s Man agement judgement regarding the recognition of the activities of Sapiens Group as discontinued operations wa s described in explanatory note 3.11 to the consolidated financial statements of the Group for the year ended 31 December 2025 which were published on 31 March 2026. The tables below present how the said changes affected the comparable dat a disclosed in the statement of profit or loss and the statement of cash flows for the period of 6 months end ed 30 June 2025, as well as the financial position data as at 31 December 2025. Restatement of the statement of profit or loss 6 months ended Discontinued operations Revision of purchase price allocation in the segment of Asseco International 6 months ended 30 June 2025 30 June 2025 (restated) PLN mn PLN mn PLN mn PLN mn Operating revenues 9,037.5 (1,050.5) - 7,987.0 Cost of sales (6,971.4) 695.1 (0.1) (6,276.4) Gross profit on sales 2,066.1 (355.4) (0.1) 1,710.6 Selling costs (501.5) 89.9 - (411.6) General and administrative expenses (610.8) 112.9 - (497.9) Net profit on sales 953.8 (152.6) (0.1) 801.1 Other operating income 28.3 (0.1) - 28.2 Other operating expenses (53.8) 10.7 - (43.1) Operating profit 928.3 (142.0) (0.1) 786.2 Financial income 114.4 (29.4) - 85.0 Financial expenses (197.3) 22.3 - (175.0) Pre-tax profit before share of profits of associates and joint ventures 845.4 (149.1) (0.1) 696.2 Corporate income tax (190.7) 29.4 - (161.3) Share of profits of associates and joint ventures (net of income taxes) 4.5 - - 4.5 Net profit for the reporting period from continuing operations 659.2 (119.7) (0.1) 539.4 Net profit for the reporting period from discontinued operations - 119.7 - 119.7 Net profit for the reporting period 659.2 - (0.1) 659.1 Attributable to: Shareholders of the Parent Company 282.1 - (0.1) 282.0 Non-controlling interests 377.1 - - 377.1
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I 22 Asseco Group Financial Report for the period of 6 months ended 30 June 2026 (in PLN millions) Restatement of the statement of financial position 31 December 2025 Revision of purchase price allocation in the segment of Formula Systems 31 December 2025 (restated) PLN mn PLN mn PLN mn Non-current assets 10,602.4 (23.7) 10,578.7 of which: Goodwill 5,582.4 (23.7) 5,558.7 Current assets and assets held for sale 12,461.1 - 12,461.1 TOTAL ASSETS 23,063.5 (23.7) 23,039.8 Total equity 12,892.8 (23.7) 12,869.1 of which: Equity (attributable to shareholders of the Parent Company) 7,425.7 (2.9) 7,422.8 Non-controlling interests 5,467.1 (20.8) 5,446.3 Non-current liabilities 3,036.3 - 3,036.3 Current liabilities 7,134.4 - 7,134.4 TOTAL LIABILITIES 10,170.7 - 10,170.7 TOTAL EQUITY AND LIABILITIES 23,063.5 (23.7) 23,039.8 Restatement of the statement of cash flows 6 months ended 30 June 2025 Discontinued operations Revision of purchase price allocation in the segment of Asseco International 6 months ended 30 June 2025 (restated) PLN mn PLN mn PLN mn PLN mn Cash flows – operating activities Pre-tax profit before share of profits of associates and joint ventures 845.4 (149.1) (0.1) 696.2 Total adjustments: 197.2 (8.3) 0.1 189.0 of which: Depreciation and amortization 431.2 (61.4) 0.1 369.9 Changes in working capital (378.9) 46.6 - (332.3) Interest (income)/expenses 95.9 0.9 - 96.8 (Gain)/Loss on foreign exchange differences (2.4) 10.3 - 7.9 Costs of share-based payment transactions 39.2 (4.9) - 34.3 (Gain)/Loss on property, plant and equipment (2.2) 0.2 - (2.0) Cash provided by/(used in) operating activities from continuing operations 1,042.6 (157.4) - 885.2 Corporate income tax paid (242.8) 52.6 - (190.2) Net cash provided by/(used in) operating activities from continuing operations 799.8 (104.8) - 695.0 Net cash provided by operating activities from discontinued operations - 104.8 - 104.8 Net cash provided by operating activities 799.8 - - 799.8 Cash flows – investing activities Inflows 274.1 (207.0) - 67.1 of which: Disposal of property, plant and equipment, intangible assets, and investment property 8.3 (0.1) - 8.2 Bank deposits exceeding 3 months completed and loans collected 220.1 (201.7) - 18.4 Interest received 7.4 (5.2) - 2.2
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I 23 Asseco Group Financial Report for the period of 6 months ended 30 June 2026 (in PLN millions) Outflows (798.5) 469.2 - (329.3) of which: Acquisition of property, plant and equipment and intangible assets (including expenditures for development projects) (169.6) 21.0 - (148.6) Acquisition of subsidiaries and associates, net of cash and cash equivalents in subsidiaries acquired (563.5) 409.8 - (153.7) Bank deposits exceeding 3 months placed and loans granted (60.7) 38.4 - (22.3) Net cash provided by/(used in) investing activities from continuing operations (524.4) 262.2 - (262.2) Net cash provided by/(used in) investing activities from discontinued operations - (262.2) - (262.2) Net cash provided by/(used in) investing activities (524.4) - - (524.4) Cash flows – financing activities Inflows 309.6 - - 309.6 Outflows (1,313.5) 170.0 - (1,143.5) of which: Redemption of debt securities (112.7) 76.1 - (36.6) Payments of lease liabilities (131.2) 9.9 - (121.3) Interest paid (including interest on leases) (93.4) 5.5 - (87.9) Dividends paid out to non-controlling interests (354.6) 78.5 - (276.1) Net cash provided by/(used in) financing activities from continuing operations (1,003.9) 170.0 - (833.9) Net cash used in financing activities from discontinued operations - (170.0) - (170.0) Net cash used in financing activities (1,003.9) - - (1,003.9) Net increase/(decrease) in cash and cash equivalents (728.5) - - (728.5) Net foreign exchange differences (163.1) - - (163.1) Net cash and cash equivalents as at 1 January 3,213.6 - - 3,213.6 Net cash and cash equivalents as at 30 June 2,322.0 - - 2,322.0 2.11. Effects of Turkey’s status as a hyperinflationary economy Assumptions for the reasons, approach and timing of hyperinflation restatements have not changed in relation to those described in detail in explanatory note 3.12 to the Group’s consolidat ed financial statements for the year ended 31 December 2025 which were published on 31 March 2026. Hyperinflation restatements of the financial data of our subsidiaries operating in Turkey have been based on officially available data on changes in the consumer price index (CPI) as published by the Turkish Statistical Institute. According to this index, the inflation rate for the period of 12 months ended 30 June 2026 reached 32%. The rates of inflation for particular periods are presented in the table below: Inflation rate for particular periods June 2026 – December 2025 18% June 2026 – June 2025 32% December 2025 – December 2024 31% Three-year cumulative inflation rate June 2026 – June 2023 206% December 2025 – December 2022 211%
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I 24 Asseco Group Financial Report for the period of 6 months ended 30 June 2026 (in PLN millions) The impact of adopting IAS 29 on these interim condensed consolidated financial statements for the period of 6 months ended 30 June 2026 is summarized below: STATEMENT OF PROFIT OR LOSS 6 months ended 30 June 2026 Impact of hyperinflation PLN mn Operating revenues 7.3 Cost of sales (6.4) Gross profit on sales 0.9 Selling costs (0.7) General and administrative expenses (0.5) Net profit on sales (0.3) Other operating income and expenses - Operating profit (0.3) Financial income 12.7 Financial expenses (0.1) Pre-tax profit before share of profits of associates and joint ventures 12.3 Corporate income tax (0.5) Share of profits of associates and joint ventures (net of income taxes) - Net profit for the reporting period 11.8 Attributable to: Shareholders of the Parent Company 6.0 Non-controlling interests 5.8 ASSETS 30 June 2026 Impact of hyperinflation PLN mn Non-current assets 76.2 Total current assets and assets held for sale 2.1 TOTAL ASSETS 78.3 EQUITY AND LIABILITIES 30 June 2026 Impact of hyperinflation PLN mn Equity (attributable to shareholders of the Parent Company) 37.4 Non-controlling interests 36.3 Total equity 73.7 Non-current liabilities 1.6 Current liabilities 3.0 TOTAL LIABILITIES 4.6 TOTAL EQUITY AND LIABILITIES 78.3
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I 25 Asseco Group Financial Report for the period of 6 months ended 30 June 2026 (in PLN millions) 3. Organization and changes in the structure of Asseco Group, including the entities subject to consolidation The organizational structure of Asseco Group has been presented in the chart below (voting rights and equity interest held as at 30 June 2026 and 31 December 2025 are disclosed under the name of each company): Asseco Poland segment Formula Systems segment Asseco International, a.s. Asseco Data Systems S.A. Podkarp. Fund. Nieruchomości Sp. z o.o. Formula Systems (1985) Ltd Slovakia Poland Poland Israel 100/100 (100/100) 100/100 (100/100) 100/100 (100/100) 25.81/25.81 (25.82/25.82) Asseco South Eastern Europe S.A. Asseco PST Holding - SGPS, S.A. Pirios S.A. Park Wodny Sopot Sp. z o.o. Matrix IT Ltd Michpal Technologies Ltd ExonMedia Ltd Poland Portugal Poland Poland Israel Israel Israel 50.89/50.89 (50.89/50.89) 94.90/94.90 (94.90/94.90) 65.24/65.24 (65.24/65.24) 100/100 (100/100) 47.68/47.68 (48.12/48.12) 69.09/69.09 (69.09/69.09) 21.45/21.45 (21.45/21.45) Asseco Central Europe, a.s. ASSECO PST PORTUGAL – Business & Software Solutions, S.A. Nile Data Systems Limited Aquapark Sopot Sp. z o.o. Insync Staffing Inc. TSG IT Advanced Systems Ltd Bestdeals USA LLC (BD) Slovakia Portugal South Sudan Poland USA Israel USA 92.33/92.33 (92.33/92.33) 100/100 (100/100) 49/49 (49/49) 100/100 (100/100) 90.09/90.09 (90.09/90.09) 32.87/32.87 (37.33/37.33) 100/100 (100/100) ASSECO EQUATOR SOFTWARE Ltd LebaTechnology S.A. Cyber Defense Africa S.A.S ZUI Novum Sp. z o.o. Bear Staffing E.P.R. Systems Ltd Exon Media Private Limited (India) Kenya Angola Togo Poland USA Israel India 51/51 (51/51) 99.86/99.86 (99.86/99.86) 32/32 (32/32) 51.08/51.08 (51.08/51.08) 100/100 (100/100) 60/60 (60/60) 100/100 (100/100) Asseco Western Europe S.A. CPI - Consultoria de Projetos Informaticos, S.A. Asseco Middle East Co. GSTN Consulting Sp. z o.o. Zap Group Ltd Bar Technologies (D.S.) Ltd Exon Media Technology Brazil LTDA Poland Angola Saudi Arabia Poland Israel Israel Brazil 100/100 (100/100) 80/80 (80/80) 33/33 (33/33) 100/100 (100/100) 100/100 (100/100) 100/100 (100/100) 100/100 (100/100) Asseco Spain S.A. ASSECO PST MOÇAMBIQUE - Business & Software Solutions, LIMITADA Creative Telecom Company LLC Postdata S.A. Gil Hazahaz Ltd (hereafter Gil Hazahav) E.S.D- ASSETS CONDUCTING (1993) Ltd Strepera Limited Spain Mozambique Saudi Arabia Poland Israel Israel Ireland 86.86/86.86 (86.86/86.86) 90/90 (90/90) 100/100 (100/100) 49/49 (49/49) 100/100 (100/100) 100/100 (100/100) 100/100 (100/100) Valorista S.L.U. FINANTECH - Sistemas de Informação, S.A. Asseco Innovation Fund Sp. z o.o. in liquidation* Asseco Resovia S.A. Winhelp – Ofran Limited Partnership ESHED - ASSET REGISTRATION Ltd Brandvision Ltd Spain Portugal Poland Poland Israel Israel Israel 100/100 (100/100) 76/76 (76/76) 100/100 (100/100) 89.02/89.02 (89.02/89.02) 100/100 (100/100) 100/100 (100/100) 100/100 (100/100) Raxon Security Services, S.L.U CodeConnexion Ltd * ComCERT S.A. Krajowy Operator Chmury Medycznej Sp. z o.o. Safra Digital Marketing Ltd Q.rity Quality Security Solutions Ltd Ofek Aerial Photography (1987) Ltd Spain Sri Lanka Poland Poland Israel Israel Israel 100/100 (100/100) 45/45 (45/45) 100/100 (100/100) 100/100 (100/100) 51/51 (51/51) 100/100 (100/100) 80/80 (80/80) Worldtech Enterprises USA Corp. KKI-BCI Sp. z o.o. in liquidation* Nextbank Software Sp. z o.o. SHAK-AD L.P. A.R.T.S. Advanced Real Time Systems LTD Yona Engineering Consulting & Management Ltd USA Poland Poland Israel Israel Israel 80/80 (80/80) 100/100 (100/100) 64.8/64.8 (64.8/64.8) 50.1/50.1 (50.1/50.1) 100/100 (100/100) 100/100 (100/100) Asseco Lietuva UAB IMX tow * NXTBK, Inc. ATAK Elextronics Communications Ltd Elita Project Management Ltd Geopoint Ltd Lithuania Ukraine Philippines Israel Israel Israel 97.80/97.80 (97.80/97.80) 100/100 (100/100) 39.9/39.9 (39.9/39.9) 100/100 (100/100) 100/100 (100/100) 50/40 (50/40) ABS GmbH Asseco Cloud Sp. z o.o. Shamrad Electronic (1977) Ltd Puzzle Projects Ltd Formula Infrastructure Ltd Germany Poland Israel Israel Israel 100/100 (100/100) 100/100 (100/100) 100/100 (100/100) 100/100 (100/100) 100/100 (100/100) Infocomp Sp. z o.o. Hashahar Telecom and Electricity Ltd P.C.I PROCESS CONTROL INSTRUMENTATION Ltd Advance Engineering Ltd A - Group structure presented in chart A subsidiary company Poland Israel Israel Israel B - Group structure presented in chart B 50.83/50.83 (50.83/50.83) 51/51 (51/51) 70/70 (70/70) 60/60 (60/60) C - Group structure presented in chart C associated company D - Group structure presented in chart D Asseco Poland segment MABAT 3 D TECHNOLOGIES Ltd M.L.B.S. Technologies Ltd joint venture Israel Israel 100/100 (0/0) 73/73 (0/0) * company in liquidation M.L.B.S Construction, Development and Management Ltd 100/100 voting rights / equity interest as at 30 June 2026 (in %) Israel (100/100) voting rights / equity interest as at 31 December 2025 (in %) 100/100 (0/0) David Barhom Ltd Israel 70/70 (0/0) Formula Systems segment Asseco International segment Asseco International segment D)B) A) Asseco Poland S.A. C)
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I 26 Asseco Group Financial Report for the period of 6 months ended 30 June 2026 (in PLN millions) A. Organizational structure of Asseco Central Europe Group Asseco Central Europe, a.s. INVENTION, s.r.o. Asseco Enterprise Solutions, a.s. * Czech Republic Slovakia Slovakia 100/100 (100/100) 100/100 (100/100) 49.46/49.46 (49.46/49.46) Asseco Berit GmbH 8Seneca PTE Ltd DahliaMatic Sp. z o.o. Asseco Business Solutions S.A. Germany Singapore Poland Poland 100/100 (100/100) 51/51 (0/0) 100/100 (100/100) 47.61/46.47 (47.05/46.47) Asseco Berit AG CONG TY TNHH 8Seneca Solver Sp. z o.o. Asseco Solutions, a.s. Switzerland Vietnam Poland Czech Republic 100/100 (100/100) 100/100 (0/0) 100/100 (100/100) 100/100 (100/100) TOVEK, spol. s r.o. 8Seneca s.r.o. Asseco Solutions AG NZ Servis s.r.o. Czech Republic Slovakia Germany Czech Republic 80/80 (75/75) 100/100 (0/0) 89.9/89.9 (89.9/89.9) 100/100 (100/100) Prvni Certifikacni Autorita, a.s. 8Seneca Ltd Asseco Solutions Sp. z o.o. ANeT-Advanced Network Technology, s.r.o. Czech Republic United Kingdom Poland Czech Republic 23.25/23.25 (23.25/23.25) 100/100 (0/0) 100/100 (100/100) 100/100 (100/100) Asseco Central Europe Magyarország Zrt Asseco CEIT, a.s. Asseco Solutions GmbH ANeT Slovakia s.r.o. Hungary Slovakia Austria Slovakia 100/100 (100/100) 95/95 (95/95) 100/100 (100/100) 100/100 (100/100) exe, a.s. Tuskrobots Europe B.V. Asseco Solutions AG Asseco Solutions, a.s. Slovakia Netherlands Switzerland Slovakia 100/100 (100/100) 100/100 (100/100) 100/100 (100/100) 100/100 (100/100) Exe Magyarország Zrt Asseco CEIT Asset Management s.r.o. Asseco Solutions S.A. Axera, s.r.o. Hungary Slovakia Guatemala Slovakia 100/100 (100/100) 100/100 (100/100) 80/80 (80/80) 100/100 (100/100) eDocu a.s. Asseco CEIT CZ, s.r.o. Asseco Solutions s.r.l. Slovakia Czech Republic Italy 51/51 (51/51) 100/100 (100/100) 100/100 (100/100) G5 plus, s.r.o. Asseco CE Cloud, a.s. Slovakia Slovakia subsidiary company 51/51 (51/51) 100/100 (100/100) associated company joint venture DSDP Consulting, s.r.o. Slovakia 100/100 voting rights / equity interest as at 30 June 2026 (in %) 100/100 (100/100) (100/100) voting rights / equity interest as at 31 December 2025 (in %) * Asseco Central Europe, a.s. holds a 49.456601% stake in Asseco Enterprise Solutions, while the remaining 49.456623% of shares are held by Asseco International, a.s. Asseco Central Europe, a.s. maintains direct control over Asseco Enterprise Solutions, a.s. Asseco Central Europe a.s. Slovakia
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I 27 Asseco Group Financial Report for the period of 6 months ended 30 June 2026 (in PLN millions) B. Organizational structure of Asseco South Eastern Europe Group Payten Holding S.A. ASEE Sh.p.k. ASEE d.o.o. (Sarajevo) Poland Kosovo Bosnia & Herzegovina 99.07/99.07 (99.07/99.07) 100/100 (100/100) 100/100 (100/100) Payten DOOEL Skopje PAYTEN d.o.o. - New Belgrade Touras India Private Limited ASEE Albania Sh.p.k. Dwelt d.o.o. Banja Luka Macedonia Serbia India Albania Bosnia & Herzegovina 100/100 (100/100) 100/100 (100/100) 51/51 (51/51) 100/100 (100/100) 60/60 (60/60) Payten d.o.o., Sarajevo Chip Card, a.d. Belgrade Touras Tech Global Private Limited Helius Systems Sh.p.k. BS Telecom Solutions d.o.o. Sarajevo Bosnia & Herzegovina Serbia India Albania Bosnia & Herzegovina 100/100 (100/100) 92.51/92.51 (92.51/92.51) 100/100 (100/100) 70/70 (70/70) 100/100 (60/60) Monri Payments d.o.o. Payten Teknoloji A.Ş. Touras Technologies Limited Clever Solutions Sh.p.k. ASEE EOOD Bosnia & Herzegovina Turkey United Arab Emirates Albania Bulgaria 100/100 (100/100) 100/100 (100/100) 51/51 (51/51) 45/45 (45/45) 100/100 (100/100) Monri Payments d.o.o. Zagreb Paratika Ödeme Hizmetleri A.Ş. Touras Global IT Solutions LLC ASEE Solutions d.o.o., Belgrade ASEE Solutions d.o.o. Croatia Turkey United Arab Emirates Serbia Croatia 100/100 (100/100) 100/100 (100/100) 100/100 (100/100) 100/100 (100/100) 100/100 (100/100) Payten d.o.o. (Ljubljana) Payten d.o.o. (Zagreb) Sycket Technologies S.L. Things Solver d.o.o., Beograd ASEE BSS Dooel, Skopje Slovenia Croatia Spain Serbia Macedonia 100/100 (100/100) 100/100 (100/100) 70/70 (70/70) 76.14/76.14 (76.14/76.14) 100/100 (100/100) Payten d.o.o. Podgorica Payten Egypt LLC Payten Payment Solutions s.r.l. ASEE Solutions S.R.L. ASEE Dooel, Skopje Montenegro Egypt Romania Romania Macedonia 100/100 (100/100) 80/80 (80/80) 100/100 (100/100) 100/100 (100/100) 100/100 (100/100) SONET, Spol. s.r.o. Monri Payments d.o.o., Belgrade ContentSpeed s.r.l. ASEE Solutions S.R.L. ASEE Bilişim Teknolojileri A.Ş. Czech Republic Serbia Romania Moldova Turkey 100/100 (100/100) 100/100 (100/100) 80/80 (80/80) 100/100 (100/100) 100/100 (100/100) SONET Slovakia, s.r.o. IfthenPay, Lda Necomplus, S.L. Bithat Solutions s.r.l. E-Mon d.o.o., Podgorica Slovakia Portugal Spain Romania Montenegro 100/100 (100/100) 80/80 (80/80) 100/100 (100/100) 100/100 (100/100) 75/75 (75/75) Monri Payments d.o.o. WEO Unipessoal Lda Necomplus Serveis Andorra, S.L. Askepnet TOV Slovenia Portugal Andorra Ukraine 100/100 (75/75) 80/80 (80/80) 33.33/33.33 (33.33/33.33) 100/100 (100/100) Fawaterk for E-payments LLC Monripayments, S.L.U. Necomplus Portugal Lda. Egypt Spain Portugal 51/51 (51/51) 100/100 (100/100) 100/100 (100/100) Necomplus Dominicana, Srl Dominican Republic 100/100 (100/100) Necomplus Colombia SAS 100/100 voting rights / equity interest as at 30 June 2026 (in %) Colombia (100/100) voting rights / equity interest as at 31 December 2025 (in %) 100/100 (100/100) subsidiary company Necomplus PERÚ SAC associated company Peru 100/100 (100/100) Asseco South Eastern Europe S.A. Poland
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I 28 Asseco Group Financial Report for the period of 6 months ended 30 June 2026 (in PLN millions) C. Organizational structure of Michpal Group Kol HaMas Ltd Emalogic Software Ltd JTG HR Consulting Ltd Israel Israel Israel 65/65 (65/65) 75/75 (75/75) 60/60 (0/0) Unique Software Industries Ltd Heshev Information Systems (2012) Ltd THT Ltd Israel Israel Israel 100/100 (100/100) 70/70 (70/70) 51/51 (0/0) Software For Professionals - Liram Ltd Mida Computers Software Solutions (G.D) Ltd JP Group Global Wealth Management Ltd Israel Israel Israel 100/100 (100/100) 60/60 (60/60) 55/55 (0/0) CostApp Technologies Ltd Y-IT Ltd JTG Insurance Agency (2016) Ltd Israel Israel Israel 100/100 (0/0) 60/60 (60/60) 100/100 (0/0) Formally Smart Form System Ltd Paperless Bookkeeping Ltd Zviran Consulting and Surveys Ltd Israel Israel Israel 100/100 (100/100) 70/70 (70/70) 100/100 (0/0) Linkatch Ltd MishMarot Technologies Ltd Gonen and Glazner Ltd Israel Israel Israel 60/60 (60/60) 70/70 (70/70) 100/100 (0/0) Gaido Zviran Ltd 100/100 voting rights / equity interest as at 30 June 2026 (in %) Israel (100/100) voting rights / equity interest as at 31 December 2025 (in %) 100/100 (0/0) subsidiary company Michpal Technologies Ltd Israel
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I 29 Asseco Group Financial Report for the period of 6 months ended 30 June 2026 (in PLN millions) D. Organizational structure of Matrix IT Group Magic Software Enterprises Ltd* Matrix IT Systems Ltd Matrix IT Integration & Infrastructures Ltd Tangram Soft Ltd Israel Israel Israel Israel 100/100 (46.71/46.71) 100/100 (100/100) 100/100 (100/100) 100/100 (100/100) Matrix IT Advanced Inf. System Ltd Matrix-IFS UK Ltd Matrix IT Systems Management Ltd Aviv Engineering Management and Information Systems Ltd Matrix I.T. Cloudzone Ltd Matrix Devops Ltd Israel United Kingdom Israel Israel Israel Israel 100/100 (100/100) 100/100 (100/100) 100/100 (100/100) 85/85 (85/85) 100/100 (100/100) 100/100 (100/100) Segol Hardware and Software Distribution Ltd Noah Technologies Ltd Matrix IT Software Products Ltd AMCG Infrastructure and Transportation Ltd CloudZone EMEA B.V. MatrixDnA Israel Israel Israel Israel Netherlands Israel 100/100 (100/100) 100/100 (100/100) 100/100 (100/100) 95/95 (95/95) 100/100 (100/100) 80/80 (60/60) Matrix Open Source Ltd Matrix US Holdings LLC AG 2000 Holdings LLC AMCG Marketing Ltd CloudZone Portugal Lda Zebra A.G.R. Technologies Ltd Israel USA USA Israel Portugal Israel 100/100 (100/100) 95/95 (95/95) 100/100 (100/100) 100/100 (100/100) 100/100 (100/100) 100/100 (70/70) I.T.D. Group Ltd Matrix 3D LLC Matchpoint IT Ltd D.H.V. Med Ltd Matrix Cloudzone France SAS Tact Computers & Systems Ltd Israel USA Israel Israel France Israel 75/75 (75/75) 50.1/50.1 (50.1/50.1) 90.02/90.02 (90.02/90.02) 89.49/67 (89.47/67) 100/100 (100/100) 100/100 (100/100) Eduwerx Ltd MGSHIP International Private Ltd Matchpoint R&D Ltd Aviv - Engineering Management and International Consulting Ltd CloudZone EMEA Spain, S.L. Matrix Testing and Automation Ltd Israel India Israel Israel Spain Israel 50/50 (50/50) 99/99 (99/99) 100/100 (100/100) 100/100 (100/100) 100/100 (0/0) 100/100 (100/100) Gav Systems Ltd Matrix LB Holdco LLC A Soft Ltd AMCG (USA) Ltd Elon Software Systems Ltd Tikshuv Systems In Education (Shacham) Ltd Israel USA Israel USA Israel Israel 70/70 (70/70) 97.5/97.5 (97.5/97.5) 100/100 (100/100) 99.26/99.26 (99.26/99.26) 100/100 (100/100) 100/100 (100/100) Gav Systems for success Ltd Alacer Matrix LLC Consultants Matrix-IFS Canada Inc. Dana Engineering Ltd Tech Top Marketing Ltd Matrix Defense Ltd Israel USA Canada Israel Israel Israel 100/100 (100/100) 51/51 (51/51) 100/100 (100/100) 90.5/90.5 (90.5/90.5) 90.1/90.1 (90.1/90.1) 100/100 (100/100) Gav Expert Ltd Exzac Inc. K.B.I.S. Ltd A.A. Engineering Ltd Matrix Network Net Ltd John Bryce Training Ltd Israel USA Israel Israel Israel Israel 70/70 (70/70) 100/100 (100/100) 51/51 (51/51) 75/75 (75/75) 100/100 (100/100) 100/100 (100/100) Network Infrastructure Technologies Inc. Matrix IT Global Services Ltd Babcom Centers Ltd Cambium (2014) Ltd Hamil - The Israeli Management Center Ltd USA Israel Israel Israel Israel 100/100 (100/100) 100/100 (100/100) 50.1/50.1 (50.1/50.1) 55/55 (55/55) 100/100 (100/100) 2BSecure Ltd Matrix IT E.R.P Solutions Ltd SQ Method Ltd Sky Labs Ltd Moshe Ort Holdings Ltd Israel Israel Israel Israel Israel 100/100 (100/100) 100/100 (100/100) 100/100 (100/100) 100/100 (100/100) 100/100 (100/100) Matrix Technologies Cyprus Limited Xtivia Technologies Inc. Starit Ltd Gestetnertech Ltd Ortec Marketing, Equipment & Supply Ltd Cyprus USA Israel Israel Israel 51/51 (51/51) 100/100 (100/100) 100/100 (100/100) 75.5/75.5 (75.5/75.5) 100/100 (100/100) Matrix OT Ltd Hydus Technologies India Private Limited Net-shore Ltd Caliber Engineering and Computers Ltd Israel India Israel Israel 100/100 (100/100) 100/100 (100/100) 100/100 (100/100) 70/70 (70/70) Programa Logistic Systems Ltd Right Star Inc. Matrix IT Global Services Bulgaria AVB Technology Ltd Israel USA Bulgaria Israel 100/100 (76.65/76.65) 100/100 (100/100) 100/100 (100/100) 100/100 (100/100) Integrity Software 2011 Ltd Stons Inc. Matrix I.T. Global Services Romania S.R.L. Asio Vision Ltd Israel USA Romania Israel 100/100 (65/65) 70/70 (70/70) 100/100 (100/100) 100/100 (100/100) Integrity Software Ltd Xtivia Inc. Matrix IT Global Services Macedonia DOOEL RSA Testware Industries Ltd Cyprus USA Macedonia Israel 100/100 (0/0) 100/100 (100/100) 100/100 (100/100) 100/100 (100/100) Medatech Information Technology Ltd 100/100 voting rights / equity interest as at 30 June 2026 (in %) RDT Equipment and Systems (1993) Ltd Israel (100/100) voting rights / equity interest as at 31 December 2025 (in %) Israel 100/100 (100/100) 100/100 (100/100) subsidiary company Medatech Systems Ltd Israel E - Group structure presented in chart E 100/100 (100/100) * As at 31 December 2025, Formula Systems (1985) Ltd held 46.71% of shares in Magic Software Enterprises Ltd Matrix IT Ltd Israel E)
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I 30 Asseco Group Financial Report for the period of 6 months ended 30 June 2026 (in PLN millions) E. Organizational structure of Magic Software Enterprises Group Roshtov Software Industries Ltd F.T.S. Formula Telecom Solutions Ltd Magix Integration (Proprietary) Ltd Magic Software Enterprises Inc. Pilat Europe Ltd Israel Israel Republic of South Africa USA United Kingdom 80.05/80.05 (80.05/80.05) 100/100 (100/100) 100/100 (100/100) 100/100 (100/100) 100/100 (100/100) Magic Software Enterprises Neth. B.V. Magic Software Enterprises (UK) Ltd Magic Software Enterprises India Pvt. BridgeQuest, Inc. Pilat (North America) Inc. Netherlands United Kingdom India USA USA 100/100 (100/100) 100/100 (100/100) 100/100 (100/100) 100/100 (100/100) 100/100 (100/100) Onyx Magyarorszag Szsoftverhaz Hermes Logistics Technologies Ltd Magic Software Japan K.K. BridgeQuest Labs, Inc. Comblack IT Ltd Hungary United Kingdom Japan USA Israel 100/100 (100/100) 100/100 (100/100) 100/100 (100/100) 100/100 (100/100) 80.24/80.24 (80.24/80.24) Magic Software Enterprises Spain Ltd* Magic Beheer B.V. Magic Software Enterprises (Israel) Ltd Allstates Consulting Services LLC Shavit Software (2009) Ltd Spain Netherlands Israel USA Israel 100/100 (100/100) 100/100 (100/100) 100/100 (100/100) 100/100 (100/100) 100/100 (100/100) Magic Software Enterprises France SAS Magic Benelux B.V. AppBuilder Solutions Ltd Coretech Consulting Group Inc. Productive Software Development Ltd France Netherlands United Kingdom USA Israel 100/100 (100/100) 100/100 (100/100) 100/100 (100/100) 100/100 (100/100) 60/60 (0/0) Magic Software Enterprises GmbH Magic Hands B.V. CommIT Technology Solutions Ltd Martin Control Systems, Inc. INFINIGY (UK) HOLDINGS LIMITED Germany Netherlands Israel USA United Kingdom 100/100 (100/100) 100/100 (100/100) 80.7/80.7 (81.15/81.15) 100/100 (0/0) 100/100 (100/100) Complete Business Solutions Ltd Knowledge & Solutions Software B.V. CommIT Embedded Ltd PowWow, Inc. INFINIGY (US) Holdings Inc. Israel Netherlands Israel USA USA 100/100 (100/100) 100/100 (100/100) 75/75 (75/75) 100/100 (100/100) 100/100 (100/100) DataMind Ltd Intrabases SAS Skysoft Solutions Ltd Coretech Consulting Group LLC INFINIGY Solutions LLC Israel France Israel USA USA 90.1/90.1 (90.1/90.1) 100/100 (100/100) 75/75 (75/75) 100/100 (100/100) 100/100 (100/100) Mobisoft Ltd Minereye Technologies Ltd BA Microwave Xsell Resources Inc. INFINIGY Engineering LLP Israel Israel Israel USA USA 98.52/98.52 (98.52/98.52) 55/55 (55/55) 78.57/78.57 (69.38/69.38) 100/100 (100/100) 99.9/99.9 (99.9/99.9) Menarva Ltd Comm-IT Technology Canada Inc. CommIT Software Ltd Fusion Solutions LLC OnTarget Group Inc. Israel Canada Israel USA USA 100/100 (100/100) 100/100 (100/100) 100/100 (100/100) 100/100 (100/100) 100/100 (100/100) Appush Technologies Ltd CommIT AI Ltd Quickode Ltd Futurewave Systems, Inc. OnTarget Labs, Inc. Israel Israel Israel USA USA 100/100 (100/100) 70/70 (70/70) 100/100 (100/100) 100/100 (100/100) 100/100 (100/100) Appush Inc. AI Team Software Solutions Ltd 9540 Y.G. Soft IT Fusion Technical Solutions LLC MagicQuest Labs LLC Israel Israel Israel USA Georgia 100/100 (100/100) 85/85 (85/85) 60/60 (60/60) 49/49 (49/49) 100/100 (100/100) Savannah Solutions Ltd NETEFFECTS Inc. OnTarget Labs LLC Russia 100/100 voting rights / equity interest as at 30 June 2026 (in %) Israel USA Russia (100/100) voting rights / equity interest as at 31 December 2025 (in %) 75/75 (75/75) 100/100 (100/100) 100/100 (100/100) subsidiary company Sanjer AI Ltd Aptonet Inc. OnTarget Labs Latvia associated company Israel USA Latvia 26/26 (26/26) 100/100 (100/100) 100/100 (100/100) * company in liquidation Autonomy AI Technologies Inc Stockell Information Systems Inc. K.M.T (M.H.) Technologies Communication Computers Ltd USA USA Israel 100/100 (100/100) 100/100 (100/100) 60/60 (60/60) Valinor Ltd enableIT, LLC Expim Ltd Israel USA Israel 100/100 (100/100) 100/100 (100/100) 100/100 (100/100) Dario IT Solutions Ltd Enable IT Consulting Services Canada Inc. Goodkind Hospitality, LLC Israel Canada USA 100/100 (100/100) 100/100 (100/100) 100/100 (100/100) Twingo Ltd The Goodkind Group, LLC Goodkind Services Group, LLC Israel USA USA 60/60 (60/60) 100/100 (100/100) 100/100 (100/100) COMM-IT USA, Inc. Theoris, Inc. USA USA 100/100 (100/100) 100/100 (100/100) Comm-IT Technology UK Ltd Executive Life Ltd United Kingdom USA 100/100 (100/100) 100/100 (100/100) Magic Software Enterprises Ltd Israel
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I 31 Asseco Group Financial Report for the period of 6 months ended 30 June 2026 (in PLN millions) During the period of 6 months ended 30 June 2026, the Group’s composition changed as follows: Asseco Poland segment Percentage of voting rights after transaction Impact on equity attributable to shareholders of the Parent Company (PLN mn) Changes within the Asseco Poland segment Date of transaction Liquidation of companies Commencing the process of winding-up Asseco Innovation Fund Sp. z o.o. in liquidation 19 May 2026 n/a n/a Asseco International segment Percentage of voting rights after transaction Impact on equity attributable to shareholders of the Parent Company (PLN mn) Changes within the Asseco International segment Date of transaction Acquisition of shares in new companies Detailed information on transactions is presented in explanatory note 6.3 to these consolidated financial statements. INVENTION, s.r.o. acquired shares in 8SENECA PTE LTD along with its subsidiaries 9 February 2026 51% - Change of shareholdings in companies Asseco Central Europe, a.s., Czech Republic increased its equity interest in TOVEK, spol. s r.o. 2 April 2026 80% - Payten Holding S.A. increased its equity interest in Monri Payments d.o.o. 23 April 2026 100% - Asseco South Eastern Europe S.A. increased its equity interest in BS Telecom Solutions d.o.o. 30 April 2026 100% - Change of equity interest in Asseco Business Solutions S.A. as a result of awarding shares to participants in their incentive plan as well as a share buy-back 30 March 2026 29 June 2026 47.61% (13.4) Sale of shares in companies Sale of shares in Tax Order Sp. z o.o. by Asseco Business Solutions S.A. 29 June 2026 - 0.5 Liquidation of companies Completion of the process of winding -up DWC Slovakia a.s. in liquidation 31 January 2026 n/a - Organizational changes PAYTEN d.o.o. - New Belgrade increased its equity interest in AFusion d.o.o. Belgrade on 11 February 2026. Following this transaction, PAYTEN held 100% of shares in AFusion. On 1 June 2026, Afusion d.o.o. Belgrade merged with PAYTEN d.o.o. - New Belgrade acting as the taking-over company. 11 February 2026 1 June 2026 n/a n/a
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I 32 Asseco Group Financial Report for the period of 6 months ended 30 June 2026 (in PLN millions) Formula Systems segment Percentage of voting rights after transaction Impact on equity attributable to shareholders of the Parent Company (PLN mn) Changes within the Formula Systems segment Date of transaction Acquisition of shares in new companies Detailed information on transactions is presented in explanatory note 6.3 to these consolidated financial statements. Formula Infrastructure Ltd acquired shares in M.L.B.S. Technologies Ltd along with its subsidiary 1 February 2026 73% - Formula Infrastructure Ltd acquired shares in David Barhom Ltd 1 February 2026 70% - Magic Software Enterprises Inc. acquired shares in Martin Control Systems, Inc. 12 March 2026 100% - TSG IT Advanced Systems Ltd acquired shares in MABAT 3 D TECHNOLOGIES LTD. This company is accounted for as an associate. 26 March 2026 100% - Michpal Technologies Ltd acquired shares in JTG HR Consulting Ltd along with its subsidiaries 1 April 2026 60% - Comblack IT Ltd acquired shares in Productive Software Development Ltd 13 April 2026 60% - Change of shareholdings in companies Matrix IT E.R.P Solutions Ltd increased its equity interest in Integrity Software 2011 Ltd 12 March 2026 100% (3.6) Formula Systems (1985) Ltd decreased its equity interest in TSG IT Advanced Systems Ltd 13 January 2026 17 April 2026 32.87% 15.7 Tangram Soft Ltd increased its equity interest in Zebra A.G.R. Technologies Ltd 7 May 2026 100% (0.1) Matrix IT E.R.P Solutions Ltd increased its equity interest in Programa Logistic Systems Ltd 17 May 2026 100% (0.2) Tangram Soft Ltd increased its equity interest in MatrixDnA 19 May 2026 80% (4.5) Asseco Poland S.A. decreased its equity interest in Formula Systems (1985) Ltd 24 May 2026 25.81% (0.1) Magic Software Enterprises Ltd decreased its equity interest in CommIT Technology Solutions Ltd 10 June 2026 80.7% - CommIT Embedded Ltd increased its equity interest in BA Microwave 17 June 2026 78.57% (0.3) Formula Systems (1985) Ltd changed its equity interest in Matrix IT Ltd 24 June 2026 47.68% 0.1 On 24 June 2026, following the exercise of a stock option, the equity interest held by Michpal Technologies Ltd in Unique Software Industries Ltd dropped to 99.14%. Michpal subsequently repurchased the 0.86% stake of shares, restoring its 100% shareholding as at 30 June 2026. 2nd quarter of 2026 100% (0.1) Establishing of new companies Integrity Software 2011 Ltd established a new company called Integrity Software Ltd 9 February 2026 100% n/a CloudZone EMEA B.V. established a new company called CloudZone EMEA Spain, S.L. 7 May 2026 100% n/a Sale of shares in companies Matrix IT Systems Ltd sold a 31.3% stake of shares in Newbotix Ltd 23 April 2026 - -
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I 33 Asseco Group Financial Report for the period of 6 months ended 30 June 2026 (in PLN millions) Organizational changes The merger between the companies of Matrix IT and Magic Software Enterprises Ltd was completed on 24 February 2026. In the merger transaction, conducted by way of a reverse triangular merger, Matrix acquired the entire issued and paid-up share capital of Magic. Upon completion of the transaction, Magic shares have been delisted from the NASDAQ and Tel Aviv Stock Exchange, and Magic is no longer a public company. Before the transaction, the Group’s shareholdings in the companies of Matrix and Magic equalled 48.12% and 46.71%, respectively. Following the merger, the shareholding in Matrix stands at 47.67%. 24 February 2026 47.67% 0.3 On 24 March 2026, Software For Professionals – Liram Ltd acquired an organized group of assets that were subsequently transferred to a newly established company CostApp Technologies Ltd on 30 April 2026. 24 March 2026 30 April 2026 100% -
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I 34 Asseco Group Financial Report for the period of 6 months ended 30 June 2026 (in PLN millions) 4. Information on operating segments According to IFRS 8, an operating segment is a separable component of the Group’s business for which separate financial information is available and regularly reviewed by the chief operating decision maker in order to allocate resources to the segment and to assess its performance. The Asseco Poland segment comprises our companies which generate revenues mostly in the Polish market. Performance of this segment is analyzed on a regular basis by the Management of the Parent Company acting as the chief operating decision maker. This segment includes, among others, the following companies: Asseco Poland, Asseco Data Systems Group, ZUI Novum, ComCERT, GSTN Consulting, Asseco Cloud, National Medical Cloud Operator, Infocomp, and Nextbank Group. The aforementioned companies offer comprehensive IT services intended for a broad range of clients operating in the sectors of financial institutions, public administration, and enterprises. The segment’s performance as a whole is subject to regular verification by the Management of Asseco Poland S.A. The Asseco International segment comprises our companies which generate revenues mostly in the markets of Central Europe, South Eastern Europe, as well as Western Europe and Eastern Europe. Performance of these companies is assessed on a periodic basis by the Management of Asseco International, a.s. This segment is identical with the composition of Asseco International Group. The segment’s performance as a whole is subject to regular verification by the Management of Asseco Poland S.A. The aforementioned companies offer comprehensive IT services intended for a broad range of clients operating primarily in the sectors of financial institutions, public administration, and enterprises. The Formula Systems segment comprises our companies which generate revenues mostly in the markets of Israel and North America, as well as in Europe, Asia and Africa. Performance of these companies is assessed on a periodic basis by the Management of Formula Systems (1985) Ltd; hence, the segment’s composition corresponds to the structure of Formula Systems Group. The segment’s performance as a whole is subject to regular verification by the Management of Asseco Poland S.A. Revenues from none of our clients exceeded 10% of total sales generated by the Group in the period of 6 months ended 30 June 2026 just as in the comparable period.
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I 35 Asseco Group Financial Report for the period of 6 months ended 30 June 2026 (in PLN millions) Selected data from the statement of profit or loss and the cash flow statement for the period of 6 months ended 30 June 2026, in a breakdown by operating segments: 6 months ended 30 June 2026 Asseco Poland segment Asseco International segment Formula Systems segment Eliminations Total PLN mn PLN mn PLN mn PLN mn PLN mn Revenues from external customers 1,289.0 2,368.6 5,592.8 - 9,250.4 Inter-segment transactions 16.1 3.5 - (19.6) - Total operating revenues of segment 1,305.1 2,372.1 5,592.8 (19.6) 9,250.4 Operating profit/(loss) of operating segment 318.7 276.4 481.8 5.8 1,082.7 Interest income 1) 25.0 10.5 78.9 - 114.4 Interest expenses 2) (16.4) (9.4) (65.1) 0.2 (90.7) Corporate income tax (86.0) (61.7) (103.4) - (251.1) Non-cash items: Depreciation and amortization (as disclosed in the cash flow statement) (49.8) (108.8) (224.8) 1.6 (381.8) of which amortization of intangible assets recognized in purchase price allocation (PPA) (4.5) (11.5) (83.8) - (99.8) Costs of share-based payment transactions - (3.3) (19.4) - (22.7) (Recognition)/Reversal of impairment losses on segment assets (17.5) (26.2) 0.5 - (43.2) Share of profits of associates and joint ventures (0.2) 0.9 60.3 - 61.0 Net profit/(loss) of segment attributable to the Parent Company (from continuing and discontinued operations) 232.5 137.5 53.8 5.8 429.6 Cash provided by operating activities from continuing operations3) 318.9 450.6 89.2 (2.7) 856.0 1) Interest income on loans granted, debt securities purchased, leases, trade receivables, and bank deposits 2) Interest expenses on bank loans, borrowings, debt securities issued, leases, and trade payables 3) Cash generated from operating activities before income tax paid Selected data from the statement of financial position as at 30 June 2026, in a breakdown by operating segments: 30 June 2026 Asseco Poland segment Asseco International segment Formula Systems segment Eliminations Total PLN mn PLN mn PLN mn PLN mn PLN mn Non-current assets 3,102.9 2,629.5 5,460.6 (2.5) 11,190.5 of which goodwill 2,237.3 1,843.1 1,757.5 - 5,837.9 Current assets and non-current assets held for sale 1,850.9 2,375.4 7,381.2 (24.0) 11,583.5 of which: trade receivables and contract assets 673.8 853.1 3,566.6 (9.0) 5,084.5 cash and bank deposits 877.1 967.7 3,259.9 - 5,104.7 Non-current liabilities 728.4 458.8 2,078.0 (14.3) 3,250.9 of which: bank loans, borrowings and debt securities 487.8 114.4 838.1 - 1,440.3 lease liabilities 57.2 159.5 423.0 (4.6) 635.1 Current liabilities 798.8 1,617.1 4,992.7 (22.1) 7,386.5 of which: bank loans, borrowings and debt securities 100.6 119.2 1,093.6 - 1,313.4 lease liabilities 13.8 61.3 176.9 (2.8) 249.2 trade payables and contract liabilities 310.4 827.5 2,177.8 (7.3) 3,308.4
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I 36 Asseco Group Financial Report for the period of 6 months ended 30 June 2026 (in PLN millions) Selected data from the statement of profit or loss and the cash flow statement for the period of 6 months ended 30 June 2025, in a breakdown by operating segments: 6 months ended 30 June 2025 Asseco Poland segment Asseco International segment Formula Systems segment Eliminations Total (restated) PLN mn PLN mn PLN mn PLN mn PLN mn Revenues from external customers 1,101.1 2,159.6 4,726.3 - 7,987.0 Inter-segment transactions 15.4 7.4 - (22.8) - Total operating revenues of segment 1,116.5 2,167.0 4,726.3 (22.8) 7,987.0 Operating profit/(loss) of operating segment 214.7 219.6 360.4 (8.5) 786.2 Interest income 1) 8.6 10.8 18.9 - 38.3 Interest expenses 2) (25.5) (10.3) (59.8) 0.3 (95.3) Corporate income tax (37.8) (46.1) (79.1) 1.7 (161.3) Non-cash items: Depreciation and amortization (as disclosed in the cash flow statement) (53.0) (102.5) (215.9) 1.5 (369.9) of which amortization of intangible assets recognized in purchase price allocation (PPA) (5.7) (14.0) (85.3) - (105.0) Costs of share-based payment transactions - (7.8) (26.5) - (34.3) (Recognition)/Reversal of impairment losses on segment assets (2.4) (11.3) (4.0) - (17.7) Share of profits of associates and joint ventures 0.1 0.7 3.7 - 4.5 Net profit/(loss) attributable to the Parent Company 147.9 109.1 31.2 (6.2) 282.0 Cash provided by operating activities from continuing operations3) 248.4 235.2 403.1 (1.5) 885.2 1) Interest income on loans granted, debt securities purchased, leases, trade receivables, and bank deposits 2) Interest expenses on bank loans, borrowings, debt securities issued, leases, and trade payables 3) Cash generated from operating activities before income tax paid Selected data from the statement of financial position as at 31 December 2025, in a breakdown by operating segments: 31 December 2025 Asseco Poland segment Asseco International segment Formula Systems segment Eliminations Total (restated) PLN mn PLN mn PLN mn PLN mn PLN mn Non-current assets 3,135.3 2,652.4 4,807.5 (16.5) 10,578.7 of which goodwill 2,237.3 1,823.1 1,498.3 - 5,558.7 Current assets and non-current assets held for sale 2,225.2 2,484.7 7,782.0 (30.8) 12,461.1 of which: trade receivables and contract assets 496.4 898.6 2,785.6 (8.6) 4,172.0 cash and bank deposits 1,577.5 1,066.0 4,602.5 - 7,246.0 Non-current liabilities 720.9 496.4 1,842.0 (23.0) 3,036.3 of which: bank loans, borrowings and debt securities 535.9 111.5 675.6 - 1,323.0 lease liabilities 62.4 175.5 386.1 (5.8) 618.2 Current liabilities 735.8 1,650.6 4,769.1 (21.1) 7,134.4 of which: bank loans, borrowings and debt securities 100.7 122.2 916.7 - 1,139.6 lease liabilities 15.0 60.6 154.9 (2.7) 227.8 trade payables and contract liabilities 291.0 796.5 1,952.0 1.9 3,041.4
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I 37 Asseco Group Financial Report for the period of 6 months ended 30 June 2026 (in PLN millions) 5. Explanatory notes to the consolidated statement of profit or loss 5.1. Structure of operating revenues Operating revenues generated during the periods of 3 and 6 months ended 30 June 2026 and in the comparable periods were as follows: Operating revenues 3 months ended 6 months ended 3 months ended 6 months ended 30 June 2026 30 June 2026 30 June 2025 30 June 2025 (restated) (restated) PLN mn PLN mn PLN mn PLN mn Operating revenues by product type Proprietary software and services 3,756.1 7,149.0 3,006.8 6,091.3 Third-party software and services 519.0 1,038.9 462.7 880.6 Hardware and infrastructure 575.9 1,062.5 473.7 1,015.1 Total 4,851.0 9,250.4 3,943.2 7,987.0 Operating revenues by product groups Solutions for finance 1,013.8 1,986.9 884.4 1,789.3 Solutions for public institutions 1,354.8 2,504.2 970.0 1,940.8 ERP solutions 477.0 933.9 394.9 797.6 Other IT solutions 804.8 1,597.9 723.8 1,449.1 Infrastructure 1,023.4 1,848.3 791.0 1,643.7 Other non-IT solutions 177.2 379.2 179.1 366.5 Total operating revenues 4,851.0 9,250.4 3,943.2 7,987.0 i. Operating revenues of segments in a breakdown by product type Operating revenues of individual segments by product type generated during the periods of 3 and 6 months ended 30 June 2026 and in the comparable periods were as follows: Asseco Poland segment Asseco International segment Formula Systems segment Eliminations Total PLN mn PLN mn PLN mn PLN mn PLN mn 3 months ended 30 June 2026 Proprietary software and services 649.2 917.8 2,193.3 (4.2) 3,756.1 Third-party software and services 29.9 102.9 389.6 (3.4) 519.0 Hardware and infrastructure 19.0 217.4 339.5 - 575.9 Total operating revenues 698.1 1,238.1 2,922.4 (7.6) 4,851.0 Asseco Poland segment Asseco International segment Formula Systems segment Eliminations Total PLN mn PLN mn PLN mn PLN mn PLN mn 6 months ended 30 June 2026 Proprietary software and services 1,214.7 1,761.1 4,185.9 (12.7) 7,149.0 Third-party software and services 62.0 220.7 763.1 (6.9) 1,038.9 Hardware and infrastructure 28.4 390.3 643.8 - 1,062.5 Total operating revenues 1,305.1 2,372.1 5,592.8 (19.6) 9,250.4 Asseco Poland segment Asseco International segment Formula Systems segment Eliminations Total PLN mn PLN mn PLN mn PLN mn PLN mn 3 months ended 30 June 2025 (restated) Proprietary software and services 519.4 762.2 1,720.0 5.2 3,006.8 Third-party software and services 43.6 127.8 307.0 (15.7) 462.7 Hardware and infrastructure 9.4 218.7 245.6 - 473.7 Total operating revenues 572.4 1,108.7 2,272.6 (10.5) 3,943.2
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I 38 Asseco Group Financial Report for the period of 6 months ended 30 June 2026 (in PLN millions) Asseco Poland segment Asseco International segment Formula Systems segment Eliminations Total PLN mn PLN mn PLN mn PLN mn PLN mn 6 months ended 30 June 2025 (restated) Proprietary software and services 1,018.2 1,494.4 3,575.7 3.0 6,091.3 Third-party software and services 79.7 253.4 573.3 (25.8) 880.6 Hardware and infrastructure 18.6 419.2 577.3 - 1,015.1 Total operating revenues 1,116.5 2,167.0 4,726.3 (22.8) 7,987.0 ii. Operating revenues of segments in a breakdown by product groups Operating revenues of individual segments by product groups generated during the periods of 3 and 6 months ended 30 June 2026 and in the comparable periods were as follows: Asseco Poland segment Asseco International segment Formula Systems segment Eliminations Total PLN mn PLN mn PLN mn PLN mn PLN mn 3 months ended 30 June 2026 Solutions for finance 183.2 414.7 416.0 (0.1) 1,013.8 Solutions for public institutions 409.7 183.4 763.8 (2.1) 1,354.8 ERP solutions 2.8 280.9 195.1 (1.8) 477.0 Other IT solutions 44.9 30.8 726.2 2.9 804.8 Infrastructure 52.9 324.8 648.6 (2.9) 1,023.4 Other non-IT solutions 4.6 3.5 172.7 (3.6) 177.2 Total operating revenues 698.1 1,238.1 2,922.4 (7.6) 4,851.0 Asseco Poland segment Asseco International segment Formula Systems segment Eliminations Total PLN mn PLN mn PLN mn PLN mn PLN mn 6 months ended 30 June 2026 Solutions for finance 361.3 821.1 804.7 (0.2) 1,986.9 Solutions for public institutions 739.2 322.4 1,447.5 (4.9) 2,504.2 ERP solutions 3.7 565.2 368.8 (3.8) 933.9 Other IT solutions 102.3 57.6 1,435.9 2.1 1,597.9 Infrastructure 89.7 600.0 1,164.0 (5.4) 1,848.3 Other non-IT solutions 8.9 5.8 371.9 (7.4) 379.2 Total operating revenues 1,305.1 2,372.1 5,592.8 (19.6) 9,250.4 Asseco Poland segment Asseco International segment Formula Systems segment Eliminations Total PLN mn PLN mn PLN mn PLN mn PLN mn 3 months ended 30 June 2025 (restated) Solutions for finance 160.2 406.5 317.7 - 884.4 Solutions for public institutions 298.1 134.2 543.4 (5.7) 970.0 ERP solutions 18.8 232.6 144.4 (0.9) 394.9 Other IT solutions 46.0 21.0 657.5 (0.7) 723.8 Infrastructure 46.2 310.6 434.8 (0.6) 791.0 Other non-IT solutions 3.1 3.8 174.8 (2.6) 179.1 Total operating revenues 572.4 1,108.7 2,272.6 (10.5) 3,943.2
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I 39 Asseco Group Financial Report for the period of 6 months ended 30 June 2026 (in PLN millions) Asseco Poland segment Asseco International segment Formula Systems segment Eliminations Total PLN mn PLN mn PLN mn PLN mn PLN mn 6 months ended 30 June 2025 (restated) Solutions for finance 310.3 792.1 687.3 (0.4) 1,789.3 Solutions for public institutions 582.9 241.9 1,124.1 (8.1) 1,940.8 ERP solutions 35.1 468.4 296.0 (1.9) 797.6 Other IT solutions 96.5 44.0 1,308.1 0.5 1,449.1 Infrastructure 84.6 614.4 952.3 (7.6) 1,643.7 Other non-IT solutions 7.1 6.2 358.5 (5.3) 366.5 Total operating revenues 1,116.5 2,167.0 4,726.3 (22.8) 7,987.0 iii. Operating revenues in a breakdown by countries where they were generated 6 months ended 6 months ended 30 June 2026 30 June 2025 (restated) PLN mn PLN mn Israel 4,512.0 3,708.6 Poland 1,504.4 1,255.9 USA 868.8 810.5 Slovakia 343.7 274.8 Spain 315.5 340.0 Czech Republic 246.0 250.9 Serbia 210.4 187.7 Germany 189.9 175.3 Croatia 130.4 113.7 Romania 101.0 92.5 Turkey 92.4 83.3 Angola 71.0 76.1 Other countries 664.9 617.7 Total 9,250.4 7,987.0 iv. Revenues from contracts with customers within total operating revenues 3 months ended 6 months ended 3 months ended 6 months ended 30 June 2026 30 June 2026 30 June 2025 30 June 2025 (restated) (restated) PLN mn PLN mn PLN mn PLN mn Revenues from contracts with customers recognized in accordance with IFRS 15, of which: 4,816.6 9,186.3 3,913.1 7,929.3 From goods and services transferred at a specific point in time 974.4 1,821.8 828.6 1,615.9 Asseco Poland segment 53.4 113.7 83.1 109.5 Asseco International segment 333.1 638.0 351.2 671.7 Formula Systems segment 591.1 1,076.2 398.0 846.6 Intragroup transactions (3.2) (6.1) (3.7) (11.9) From goods and services transferred over the passage of time 3,842.2 7,364.5 3,084.5 6,313.4 Asseco Poland segment 640.1 1,184.2 487.1 1,002.9 Asseco International segment 874.4 1,674.1 728.2 1,439.0 Formula Systems segment 2,331.3 4,516.6 1,874.6 3,879.7 Intragroup transactions (3.6) (10.4) (5.4) (8.2)
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I 40 Asseco Group Financial Report for the period of 6 months ended 30 June 2026 (in PLN millions) Operating revenues from leases recognized in accordance with IFRS 16 34.4 64.1 30.1 57.7 Asseco Poland segment 4.6 7.2 2.2 4.1 Asseco International segment 30.6 60.0 29.3 56.3 Intragroup transactions (0.8) (3.1) (1.4) (2.7) Total operating revenues 4,851.0 9,250.4 3,943.2 7,987.0 Revenues from operating leases recognized in accordance with IFRS 16, as disclosed in the table above, represent primarily revenues generated by the Asseco International segment (in particular by Asseco South Eastern Europe Group) from the provision of ATM and POS terminal outsourcing services. In addition, these revenues comprise income from letting of own property, including of fice space (particularly in the Asseco Poland segment). Such contracts are treated as operating lease contracts, and revenues generated therefrom are recognized as revenues from operating leases in accordance with IFRS 16. 5.2. Structure of operating costs The table below presents operating costs incurred during the periods of 3 and 6 months ended 30 June 2026 and in the comparable periods. Operating costs 3 months ended 6 months ended 3 months ended 6 months ended 30 June 2026 30 June 2026 30 June 2025 30 June 2025 (restated) (restated) PLN mn PLN mn PLN mn PLN mn Cost of goods, materials and third -party services sold (COGS) (838.1) (1,650.7) (720.6) (1,477.2) Employee benefits (2,298.2) (4,391.9) (1,903.7) (3,883.7) Depreciation and amortization (199.1) (380.4) (185.5) (368.5) Third-party services (693.7) (1,306.8) (545.7) (1,092.5) Other (228.2) (403.3) (187.3) (364.0) Total (4,257.3) (8,133.1) (3,542.8) (7,185.9) Cost of sales, of which: (3,724.1) (7,105.3) (3,095.0) (6,276.4) (Recognition)/Reversal of allowances for trade receivables (17.6) (22.8) (8.9) (16.5) Selling costs (238.5) (456.9) (200.2) (411.6) General and administrative expenses (294.7) (570.9) (247.6) (497.9) Total (4,257.3) (8,133.1) (3,542.8) (7,185.9) In the reporting period, the costs of third -party services included the costs of human resources outsourcing amounting to PLN 656.5 million as well as the costs of subcontractors amounting to PLN 539.7 million. In the comparable period, such costs amounted to PLN 538.7 million and PLN 456.2 million, respectively. In the period of 6 months ended 30 June 2026, other operating costs included primarily maintenance of property and company cars in the amount of PLN 233.5 million, as well as business trips in the amount of PLN 22.4 million. Whereas, in the comparable period other operating costs included primarily maintenance of property and company cars in the amount of PLN 215.1 million, as well as business trips in the amount of PLN 23.6 million. i. Costs of employee benefits 3 months ended 6 months ended 3 months ended 6 months ended 30 June 2026 30 June 2026 30 June 2025 30 June 2025 (restated) (restated) PLN mn PLN mn PLN mn PLN mn Salaries (1,936.4) (3,646.1) (1,588.6) (3,227.4) Social insurance contributions (158.8) (307.6) (138.8) (268.8) Costs of pension benefits (163.0) (321.7) (134.3) (271.6) Costs of share-based payment transactions (11.2) (22.7) (20.7) (34.3) Other costs of employee benefits (28.8) (93.8) (21.3) (81.6) Total costs of employee benefits (2,298.2) (4,391.9) (1,903.7) (3,883.7)
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I 41 Asseco Group Financial Report for the period of 6 months ended 30 June 2026 (in PLN millions) The average level of employment during the reporting period presented in full -time salaried jobs, i.e. employment in full -time jobs adjusted for (reduced by) positions which are not salaried by the Group companies (such as an unpaid leave, maternity leave, etc.), exclusive of companies whose financial results are disclosed under other operating activities or discontinued operations, however inclusive of companies which joined the Group during the reporting period (calculated proportionally to the period of their consolidation) equalled 29,502 persons, in comparison with 28,369 persons in the comparable period. The costs of share -based payment transactions correspond to stock option plans that were awarded to employees and managers of companies incorporated within the Formula Systems segment as well as the Asseco International segment. In the financial results for 2026 and 2025, the Group recognized a portion of cost of the stock option plan awarded to the CEO of Formula Systems in 2020. Under this plan, the CEO has been granted Restricted Share Units (RSUs) that will become convertible into a 4% stake of shares in Formula Systems after the passage of 8 years, i.e. after the end of 2027. The stock option plan is worth a total of approx. PLN 196.7 million which shall be recognized on a straight -line basis in the Group’s costs over the period from 2020 to 2027. In its financial results for the first half of 2026, Formula Systems (1985) Ltd recognized the cost of this stock option plan in the amount of PLN 13.6 million, as well as the costs of other s hare-based payment plans in the amount of PLN 0.6 million. The remaining costs of share -based payment transactions were incurred by Matrix Group (PLN 3.0 million), Michpal Group (PLN 2.2 million), as well as by ASEE Group (PLN 0.3 million) and Asseco Business Solutions (PLN 3.0 million). 5.3. Other operating income and expenses Other operating income and expenses recognized during the periods of 3 and 6 months ended 30 June 2026 and in the comparable periods were as follows: Other operating income 3 months ended 6 months ended 3 months ended 6 months ended 30 June 2026 30 June 2026 30 June 2025 30 June 2025 (restated) (restated) PLN mn PLN mn PLN mn PLN mn Proceeds from sports and recreational activities 7.9 15.0 7.4 14.4 Gain on revaluation of deferred and conditional payments for controlling interests in subsidiaries as well as on revaluation of liabilities from acquisition of non-controlling interests (put options) (1.6) 7.8 3.0 4.4 Gain on disposal of property, plant and equipment, and intangible assets 2.1 3.8 2.2 4.2 Gain on revaluation of receivables from the sale of a subsidiary 0.2 2.1 - - Gain on loss of control over subsidiaries 1.0 1.0 - - Other 4.2 6.0 3.0 5.2 Total 13.8 35.7 15.6 28.2 Other operating expenses 3 months ended 6 months ended 3 months ended 6 months ended 30 June 2026 30 June 2026 30 June 2025 30 June 2025 (restated) (restated) PLN mn PLN mn PLN mn PLN mn Expenses related to proceeds from sports and recreational activities (11.5) (23.1) (10.4) (20.2) Dividends payable to non-controlling interests (3.9) (17.0) (6.2) (6.2) Loss on revaluation of deferred and conditional payments for controlling interests in subsidiaries as well as on revaluation of liabilities from acquisition of non-controlling interests (put options) (5.8) (10.4) 5.3 (3.2) Impairment losses on goodwill (8.8) (8.8) - - Allowances for other receivables (2.6) (3.5) (0.1) (0.2)
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I 42 Asseco Group Financial Report for the period of 6 months ended 30 June 2026 (in PLN millions) Expenses related to obtaining control over subsidiaries (2.3) (2.3) (1.0) (1.4) Loss on loss of control over subsidiaries - - (2.1) (8.6) Other (2.5) (5.2) (1.6) (3.3) Total (37.4) (70.3) (16.1) (43.1) Gain and loss on revaluation of deferred and conditional payments for controlli ng interests in subsidiaries as well as on revaluation of liabilities from acquisition of non -controlling interests (put options) resulted primarily from changes in estimates of operating profits of our subsidiaries which constitute basis for the calculation of such liabilities. 5.4. Financial income and expenses Financial income earned during the periods of 3 and 6 months ended 30 June 2026 and in the comparable periods was as follows: Financial income 3 months ended 6 months ended 3 months ended 6 months ended 30 June 2026 30 June 2026 30 June 2025 30 June 2025 (restated) (restated) PLN mn PLN mn PLN mn PLN mn Interest income 60.4 116.4 19.3 38.6 Positive foreign exchange differences 6.3 24.4 13.6 35.8 Gain on the net monetary position – hyperinflation 4.3 12.2 2.4 9.4 Gain on exercise and/or valuation of financial assets carried at fair value through profit or loss 10.7 11.3 0.1 0.1 Other financial income 0.2 0.7 0.6 1.1 Total financial income 81.9 165.0 36.0 85.0 The gain on the net monetary position – hyperinflation resulted from applying IAS 29 and making the inflation- related revaluation of non -monetary items in the statement of financial position and the statement of profit or loss of our subsidiaries operating in Turkey, as part of ASEE Group (the Assec o International segment), using the rate of inflation in the current year. Detailed information on the impact of hyperinflation has been provided in explanatory note 2.11 to these interim condensed consolidated financial statements. Financial expenses incurred during the periods of 3 and 6 months ended 30 June 2026 and in the comparable periods were as follows: Financial expenses 3 months ended 6 months ended 3 months ended 6 months ended 30 June 2026 30 June 2026 30 June 2025 30 June 2025 (restated) (restated) PLN mn PLN mn PLN mn PLN mn Interest expense (45.4) (98.8) (48.2) (101.4) Negative foreign exchange differences (43.8) (72.2) (40.7) (55.5) Unwinding of discounts on deferred and conditional payments for controlling interests in subsidiaries and on liabilities from acquisition of non-controlling interests (put options) (3.7) (7.8) (3.8) (9.0) Loss on exercise and/or valuation of financial assets carried at fair value through profit or loss (0.8) (3.9) (0.7) (3.6) Other financial expenses (0.5) (1.6) (1.4) (5.5) Total financial expenses (94.2) (184.3) (94.8) (175.0) Positive and negative foreign exchange differences are presented in net amounts (reflecting the excess of positive differences over negative differences or otherwise) at the level of individual subsidiaries.
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I 43 Asseco Group Financial Report for the period of 6 months ended 30 June 2026 (in PLN millions) 5.5. Corporate income tax The main charges on pre-tax profit resulting from corporate income tax (current and deferred portions): Corporate income tax 3 months ended 6 months ended 3 months ended 6 months ended 30 June 2026 30 June 2026 30 June 2025 30 June 2025 (restated) (restated) PLN mn PLN mn PLN mn PLN mn Current income tax and prior years’ adjustments (180.5) (286.0) (98.5) (181.8) Deferred income tax 31.8 34.9 17.1 20.5 Income tax expense as disclosed in the statement of profit or loss (148.7) (251.1) (81.4) (161.3) During the period of 6 months ended 30 June 2026, our effective tax rate equalled 23.61% as compared to 23.17% in the comparable period last year. Global Minimum Tax Pillar 2 In December 2022, the European Council adopted Council Directive (EU) 2022/2523 on ensuring a global minimum level of taxation for multinational enterprise groups and large -scale domestic groups in the Union, which introduces within the EU the solutions previously formulated by the Organization for Economic Cooperation and Development (OECD) and accepted by more than 140 countries under the BEPS 2.0 (Base Erosion Profit Shifting) project. The Pillar 2 guidelines aim to address the problem of tax base erosion and profit shifting (BEPS) by introducing a global minimum top-up tax rate of 15%. The Global Minimum Tax (Pillar 2) rules impose new tax and reporting obligations on companies which belong to capital groups (Polish and multinational) with revenues of at least EUR 750 million, and therefore they apply to Asseco Group. The purpose of the Pillar 2 regulations is to equalize taxation rules by imposing a minimum tax of 15% on qualifying income of capital groups. The calculation shall take into account the effective tax rate, and not the nominal rate, and the tax shall be calculated on a country -by-country (jurisdiction) basis, i.e. basically in aggregate for all group companies in a given country. Commencing the application of the Pillar 2 regulations in individual countries depends on the status of implementation of these regulations and varies across jurisdictions. Some countries started to apply the Pillar 2 regulations in 2024 and, within the Group, these regulations covered companies from a total of 32 countries. In the case of Poland, the legislation concerning Pillar 2 and implementing Counc il Directive (EU) 2022/2523 has been effective since 1 January 2025. Due to implementation of the Income Inclusion Rule (IRR) by Poland, the Pillar 2 rules apply to all subsidiaries of the Group for the fiscal year 2025. The Group has collected data and analyzed the possible use of temporary saf e harbour mechanisms during the transitional period, based on financial data resulting from Country -by-Country Reporting (CbCR) and financial reporting packages received. Based on calculations for the years 2024 and 2025, the Group recognized a tax liability in the amount of PLN 4.9 million in 2025. Based on data for the first half of 2026, the Group recognized an additional tax liability of PLN 0.3 million in its consolidated accounts arising from the international tax system reform. The final amount of top -up tax may differ from current estimates. The Group has applied the exception not to recognize and not to disclose information about deferred tax assets and liabilities related to the Pillar 2 income taxes, in accordance with the ame ndments to IAS 12 issue d in May 2023.
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I 44 Asseco Group Financial Report for the period of 6 months ended 30 June 2026 (in PLN millions) 5.6. Earnings per share Both during the reporting period and the comparable period, there were no instruments that could potentially dilute basic earnings per share, hence our basic earnings per share and diluted earnings per share are equal. The table below presents net profits and numbers of shares used for the calculation of earnings per share. The number of shares used in the calculation of earnings per share takes into account treasury shares held by Asseco Poland S.A. Earnings per share 3 months ended 6 months ended 3 months ended 6 months ended 30 June 2026 30 June 2026 30 June 2025 30 June 2025 (restated) (restated) Weighted average number of ordinary shares outstanding, used for calculation of basic earnings per share 80,510,294 80,510,294 68,191,431 68,191,431 Net profit for the reporting period attributable to shareholders of the Parent Company (in PLN millions), of which: 201.2 429.6 145.8 282.0 from continuing operations 201.2 429.6 140.2 268.7 from discontinued operations - - 5.6 13.3 Consolidated earnings per share (in PLN), of which: 2.50 5.34 2.14 4.14 from continuing operations 2.50 5.34 2.06 3.94 from discontinued operations - - 0.08 0.20 5.7. Information on dividends paid out In 2026, the Parent Company paid out to its shareholders a dividend for the year 2025. On 7 May 2026, Asseco Poland S.A. held its Annual General Meeting of Shareholders which resolved to distribute the entire net profit for the financial year 2025, amounting to PLN 432.7 million, to the Shareholders in the form of a dividend payment. Furthermore, the amount of PLN 618.0 million, representing a portion of prior years’ retained earnings accumulated in the capital reserve of Asseco Poland S.A., was additionally allocated to the dividend payment. Consequently, the total amount allocated to the dividend payment reached PLN 1,050.7 million or PLN 13.05 per share. The dividend record date was set for 14 May 2026, whereas the dividend payment was scheduled for 22 May 2026. In 2025, the Parent Company paid out to its shareholders a dividend for the year 2024. On 14 May 2025, the General Meeting of Shareholders of Asseco Poland S.A. resolved that net profit for the financial year 2024 in the amount of PLN 339.0 million shall be distributed as follows: a) The amount of PLN 268.7 million was allocated to distribution among the Company’s Shareholders through the payment of a dividend amounting to PLN 3.94 per share. The dividend record date was set for 24 June 2025, whereas the dividend payment was scheduled for 30 June 2025; b) The remaining portion of net profit for 2024 in the amount of PLN 70 .3 million was allocated to the reserve capital.
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I 45 Asseco Group Financial Report for the period of 6 months ended 30 June 2026 (in PLN millions) 6. Explanatory notes to the consolidated statement of financial position 6.1. Intangible assets Changes in the net book value of intangible assets that took place during the period of 6 months ended 30 June 2026 and in the comparable period are presented below: 6 months ended 6 months ended 30 June 2026 30 June 2025 (restated) PLN mn PLN mn Net book value of intangible assets as at 1 January 1,524.3 2,017.3 Additions, of which: 114.2 108.6 Purchases and modernization 7.0 18.4 Obtaining control over subsidiaries 80.8 51.4 Capitalization of development project costs 26.4 38.8 Reductions, of which: (148.6) (159.8) Amortization charges for the reporting period (147.4) (153.0) Disposal and liquidation - (2.7) Loss of control over subsidiaries (1.2) (4.1) Additions/(Reductions) related to discontinued operations - 133.9 (Recognition)/Reversal of impairment losses (10.5) (0.8) Change due to hyperinflation 0.2 0.2 Change in presentation (0.4) - Exchange differences on translation of foreign operations 119.2 (76.1) Net book value of intangible assets as at 30 June 1,598.4 2,023.3 6.2. Right-of-use assets Changes in the net book value of right -of-use assets that took place during the period of 6 months ended 30 June 2026 and in the comparable period are presented below: 6 months ended 6 months ended 30 June 2026 30 June 2025 (restated) PLN mn PLN mn Net book value of right-of-use assets as at 1 January 839.9 956.8 Additions, of which: 118.7 156.5 Conclusion of new lease contracts 71.0 127.1 Modification and indexation of existing contracts (lease extension, interest rate change) 40.9 26.0 Obtaining control over subsidiaries 6.8 1.5 Other - 1.9 Reductions, of which: (145.5) (141.0) Depreciation charges for the reporting period (137.9) (130.6) Early termination of contracts (6.7) (6.7) Modification and indexation of existing contracts (lease shortening, interest rate change) (0.9) (3.7) Additions/(Reductions) related to discontinued operations - (4.1) Exchange differences on translation of foreign operations 66.6 (27.2) Net book value of right-of-use assets as at 30 June 879.7 941.0
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I 46 Asseco Group Financial Report for the period of 6 months ended 30 June 2026 (in PLN millions) 6.3. Goodwill For impairment testing purposes, goodwill arising from obtaining control over subsidiaries is allocated by the Group in the following way: ▪ to the groups of cash-generating units that constitute an operating segment; or ▪ to individual subsidiaries; or ▪ to operating segments identified within the Parent Company (including: “Finance and Banking”, “Healthcare and Public Administration”, or “General Business”). The following table presents the amounts of goodwill as at 30 June 2026 and 31 December 2025, in a breakdown by operating segments: Goodwill 30 June 2026 31 December 2025 (restated) PLN mn PLN mn Asseco Poland segment, of which: 2,237.3 2,237.3 Goodwill allocated to individual cash-generating units 315.8 315.8 Asseco Data Systems Group 245.5 245.5 Asseco Cloud Sp. z o.o. 11.0 11.0 GSTN Consulting Sp. z o.o. 33.1 33.1 ZUI Novum Sp. z o.o. 0.3 0.3 Infocomp Sp. z o.o. 25.9 25.9 Operating segments identified within the Parent Company 1,921.5 1,921.5 Goodwill allocated to the Finance and Banking segment 890.2 890.2 Goodwill allocated to the Healthcare and Public Administration segment 850.3 850.3 Goodwill allocated to the General Business segment 181.0 181.0 Asseco International segment, of which: 1,843.1 1,823.1 Asseco Central Europe Group 809.9 799.5 Asseco South Eastern Europe Group 942.8 934.8 Asseco Spain Group 18.3 18.0 Asseco Lietuva UAB 1) 0.5 0.5 Asseco PST Group 71.6 70.3 Formula Systems segment 1,757.5 1,498.3 Total goodwill 5,837.9 5,558.7 1) Goodwill recognized on the acquisition of Sintagma UAB and Asseco Lietuva UAB. During the period of 6 months ended 30 June 2026, the following changes in goodwill arising from consolidation took place (the table includes changed components only): Goodwill as allocated to reportable segments: Goodwill at the beginning of the period (restated) Obtaining of control Loss of control Impairment loss on goodwill Impact of hyperinflation Foreign exchange differences and other changes Goodwill as at the end of the period PLN mn PLN mn PLN mn PLN mn PLN mn PLN mn PLN mn Asseco International segment Asseco Central Europe Group 799.5 1.3 (0.9) - - 10.0 809.9 Asseco South Eastern Europe Group 934.8 - - (8.8) 11.2 5.6 942.8 Asseco Spain Group 18.0 - - - - 0.3 18.3 Asseco PST Group 70.3 - - - - 1.3 71.6 Formula Systems segment Formula Group 1,498.3 111.4 - - - 147.8 1,757.5
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I 47 Asseco Group Financial Report for the period of 6 months ended 30 June 2026 (in PLN millions) The increase in goodwill due to hyperinflation is a result of applying IAS 29 and is related to Turkey -based subsidiaries of ASEE Group (the Asseco International segment). Detailed information on the impact of hyperinflation has been provided in explanatory note 2.11 to these interim condensed consolidated financial statements. Impairment loss on goodwill in ASEE Group is related to Touras India companies and it was recognized as a result of an individual impairment test carried out for those specific companies directly by the ASEE Group. At the Asseco Group level, ASEE Group constitutes a cash -generating unit as a whole, and no indications of impairment of goodwill have been identified for this unit. Furthermore, in the period of 6 months ended 30 June 2026, the balance of goodwill arising from consolidation was affected by the transactions of obtaining control as described below. Foreign currency amounts disclosed for individual acquisitions in the descriptions below have been converted to Polish zlotys at the exchange rates effective on the acquisition date, whereas in the aggregate table above, changes in goodwill have been converted to Polish zlotys at the average exchange rate for the reporting period. A detailed description has only been provided for major acquisitions. For remaining acquisitions, we have disclosed just basic information. No descriptions have been provided either for acquisitions carried out during the comparable period for which the final purchase price allocation was comple ted in the reporting period, or for which the provisional purchase price allocation was changed compared to that of 31 December 2025. The total impact of final and revised purchase price allocations on individual items in the statement of financial position is presented in explanatory note 2.10 to these interim condensed consolidated financial statements. i. Acquisition of M.L.B.S. Technologies Ltd by Formula Infrastructure Ltd On 1 February 2026, Formula Infrastructure Ltd acquired 73% of shares in M.L.B.S. Technologies Ltd, a company based in Israel along with its subsidiary. The purchase price amounted to NIS 53.0 million (PLN 60.5 million), of which NIS 34.5 million (PLN 39.4 million) was paid in cash, while the remaining portion of NIS 18.5 million (PLN 21.1 million) constitutes a deferred payment. As part of the purchase price allocation, the Group recognized goodwill in the amount of NIS 13.0 million (PLN 14.8 million). Until 30 June 2026, the process of purchase price allocation has not yet been completed by the Group. Therefore, goodwill recognized on this acquisition may be subject to change in the period of 12 months from the date of obtaining control over that company. ii. Acquisition of David Barhom Ltd by Formula Infrastructure Ltd On 1 February 2026, Formula Infrastructure Ltd acquired 70% of shares in David Barhom Ltd, a company based in Israel. The purchase price amounted to NIS 42.0 million (PLN 47.9 million) and it was fully paid in cash. As part of the purchase price allocation, the Group recognized goodwill in the amount of NIS 33.2 million (PLN 37.9 million). Until 30 June 2026, the process of purchase price allocation has not yet been completed by the Group. Therefore, goodwill recognized on this acquisition may be subject to change in the period of 12 months from the date of obtaining control over that company. iii. Acquisition of 8Seneca PTE Ltd by ACE Group On 9 February 2026, INVENTION, s.r.o. (a company of ACE Group) acquired 51% of shares in 8Seneca PTE Ltd, a company based in Singapore along with its subsidiaries. The purchase price amounted to EUR 0.5 million (PLN 1.9 million), of which EUR 0.4 million (PLN 1.5 million) was paid in cash, while the remaining portion constitutes a deferred payment. As part of the provisional purchase price allocation, the excess of the purchase price paid over the value of net assets acquired in the amount of EUR 0. 3 million (PLN 1.1 million) was allocated to goodwill. Until 30 June 2026, the process of purchase price allocation has not yet been completed by the Group. Therefore, goodwill recognized on this acquisition may be subject to change in the period of 12 months from the date of obtaining control over that company. iv. Acquisition of Martin Control Systems, Inc. by Magic Group On 12 March 2026, Magic Software Enterprises Inc. (a company of Magic Group) acquired 100% of shares in Martin Control Systems, Inc. based in the United States. The purchase price amounted to USD 2.9 million (PLN 10.7 million), of which USD 1.5 million (PLN 5.5 million) was paid in cash, while the remaining portion
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I 48 Asseco Group Financial Report for the period of 6 months ended 30 June 2026 (in PLN millions) constitutes a deferred payment. As part of the provisional purchase price allocation, the excess of the purchase price paid over the value of net assets acquired was recognized in intangible assets in the amount of USD 1.2 million (PLN 4.3 million), while the remaining amount of USD 2.1 million (PLN 7.6 million) was allocated to goodwill. Until 30 June 2026, the process of purchase price allocation has not been completed by the Group. Therefore, goodwill recognized on this acquisition may be subject to change in the period of 12 months fr om the date of obtaining control over that company. v. Acquisition of a group of assets by Michpal Group On 24 March 2026, Software For Professionals – Liram Ltd (a compan y of Michpal Group) acquired an organized group of assets. The purchase price amounted to NIS 2.0 million (PLN 2.4 million) all of which constitutes a deferred payment liability. As part of the provisional purchase price allocation, the excess of the purchase price paid over the value of net assets acquired was recognized in intangible assets in the amount of NIS 1.2 million (PLN 1.4 million), while the remaining amount of NIS 0.6 million (PLN 0.7 million) was allocated to goodwill. Until 30 June 2026, the process of purchase price allocation has not yet been completed by the Group. Therefore, goodwill recognized on this acquisition may be subject to change in the period of 12 months from the date of obtaining control over the assets acquired. vi. Acquisition of JTG HR Consulting Ltd by Michpal Group On 1 April 2026, Michpal Technologies Ltd (a company of Michpal Group) acquired 60% of shares in JTG HR Consulting Ltd, a company based in Israel along with its subsidiaries. The purchase price amounted to NIS 48.3 million (PLN 57.1 million), of which NIS 47.3 million (PLN 55.9 million) was paid in cash, while the remaining portion of NIS 1.0 million (PLN 1.2 million) constitutes a deferred payment. As part of the provisional purchase price allocation, the excess of the purchase price paid over the value of net assets acquired was recognized in intangible assets in the amount of NIS 29.8 million (PLN 35.2 million), while the remaining amount of NIS 34.9 million (PLN 41.2 million) was allocated to goodwill. Until 30 June 2026, the process of purchase price allocation has not yet been completed by the Group. Therefore, goodwill recognized on this acquisition may be subject to change in the period of 12 months from the date of obtaining control over that company. The provisional values of identifiable assets and liabilities of the acquired company as at the acquisition date are presented below: Provisional values as at the acquisition date Provisional values as at the acquisition date NIS mn PLN mn Assets acquired Property, plant and equipment 1.8 2.1 Intangible assets (including those identified under purchase price allocation) 29.8 35.2 Right-of-use assets 5.6 6.6 Trade receivables 3.3 3.9 Cash and cash equivalents 6.4 7.6 Other assets 4.9 5.8 Total assets 51.8 61.2 Liabilities acquired Trade payables 4.7 5.6 Other liabilities 16.0 18.9 Deferred tax liabilities 6.9 8.0 Total liabilities 27.6 32.5 Net assets value 24.2 28.7 Value of non-controlling interests 10.8 12.8 Equity interest acquired 60% 60%
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I 49 Asseco Group Financial Report for the period of 6 months ended 30 June 2026 (in PLN millions) Purchase price 48.3 57.1 Goodwill as at the acquisition date 34.9 41.2 vii. Acquisition of Productive Software Development Ltd by Magic Group On 13 April 2026, Comblack IT Ltd (a company of Magic Group) acquired 60% of shares in Productive Software Development Ltd, a company based in Israel. The purchase price amounted to NIS 6.4 million (PLN 7.7 million), of which NIS 4.5 million (PLN 5.5 million) was paid in cash, while the remaining portion constitutes a deferred payment. As part of the provisional purchase price allocation, the excess of the purchase price paid over the value of net assets acquired was recognized in intangible assets in the amount of NIS 1.5 million (PLN 1.8 million), while the amount of NIS 4.0 million (PLN 4.9 million) was allocated to goodwill. Until 30 June 2026, the process of purchase price allocation has not been completed by the Group. Therefore, goodwill recognized on this acquisition may be subject to change in the period of 12 months from the date of obtaining control over these companies. 6.4. Impairment tests In line with the Group’s policy, each year as at 31 December, the Management of the Parent Company performs an annual impairment test on cash -generating units or groups of cash -generating units to which goodwill or/and intangible assets with an indefinite period of useful life have been allocated. Whereas, as at each interim reporting date, the Management of the Parent Company performs a review of the indications of possible impairment of cash -generating units to which goodwill and/or intangible assets with indefinite useful life have been allocated, as well as of other cash -generating units. In the event such indications are identified, the Management shall first verify the assumptions adopted in the last annual impairment test and, if necessary, carry out an impairment test for a given cash -generating unit or group of cash -generating units also the interim reporting date. The procedures followed in interim impairment testing are consistent with those applied for annual impairment tests performed as at 31 December. Each impairment test requires making estimates of the recoverable amount of a cash -generating unit or a group of cash-generating units to which goodwill is allocated. In the case of the Asseco Poland segment, for impairment testing purposes, goodwill is allocated to the level of operating segments constituted by the three operating segments identified within the Parent Company and separately by each direct subsidiary company or group of Asseco Poland S.A. operating primarily in the Polish market. In accordance with the guidelines of the International Financial Reporting Standards and the policy described above, the Group’s Management analyzed the indications for impairment tests, taking account of the existing economic situation, and reviewed the budgets and financial forecasts for individual segments to which goodwill has been allocated. As a result of the conducted analysis, the Management Board assessed that with regard to the operating segments identified in the Parent Company, none of the above -mentioned indications requires performing an interim impairment test. This has been concluded taking into account the industry in which the Parent Company operates as well as the fact that all the operating segments of Asseco Poland S.A. fulfilled their budgets for the period of 6 months ended 30 June 2026. In addition, during the review of forecasts for the coming years, we have found no significant deviations that could derail the achievement of business goals planned. Therefore, the assumptions made in the impairment tests carried out as at 31 December 2025 remain realistic. In the case of the Asseco International segment, for impairment testing purpose s, goodwill is allocated to the level of operating segments constituted by companies or subgroups incorporated within Asseco International Group. In the case of the Formula Systems segment, goodwill impairment tests are performed for the operating segment represented by the entire Formula Group. In the case of cash -generating units constituted by companies quoted in an active market, factors indicating potential impairment may include: low market capitalization of a given cash -generating unit (i.e. excess of its carrying amount over its market value).
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I 50 Asseco Group Financial Report for the period of 6 months ended 30 June 2026 (in PLN millions) Our companies or groups of companies quoted in an active market include: Asseco Business Solutions S.A., Asseco South Eastern Europe S.A., as well as Formula Systems (1985) Ltd and its subsidiary subgroups. The table below compares the market value (calculated on the basis of average stock prices of companies quoted during the quarter preceding the reporting date) against the net assets value of cash -generating units constituted by groups of companies quoted in an active market as at 30 June 2026 as well as at the date of the last annual impairment test, this is as at 31 December 2025: Asseco South Eastern Europe Group Asseco Business Solutions Formula Group PLN mn PLN mn PLN mn 30 June 2026 net assets value of cash-generating unit 1,299.8 334.0 4,573.3 stock market capitalization 3,187.3 2,904.1 7,339.5 excess (+) / deficit (-) of fair value over carrying amount 1,887.5 2,570.1 2,766.2 31 December 2025 (restated) net assets value of cash-generating unit 1,286.1 429.6 5,312.7 stock market capitalization 3,449.7 2,867.3 8,840.3 excess (+) / deficit (-) of fair value over carrying amount 2,163.6 2,437.7 3,527.6 The fair values of Asseco Business Solutions Group, Asseco South Eastern Europe Group and Formula Systems Group are much higher than their net assets values, hence it was d eemed unnecessary to perform an additional interim impairment test or to recognize any impairment loss on these cash -generating units. In the case of cash -generating units constituted by companies not quoted in an active market, factors indicating potential impairment may include the achievement of lower financial resul ts than assumed for a given cash-generating unit in the last annual impairment test. As at 30 June 2026, the Group has found indications of possible impairment for the following companies: Asseco PST, Asseco Spain and Asseco Lietuva (cash -generating units allocated to the Asseco International segment). In each of the above -mentioned cases, possible impairment was indicated by the achievement of weaker than budgeted results for the first half of 2026. Cash flows applied in the value -in-use model for each cash -generating unit were based on the forecasts of IT market growth for the period from 1 July 2026 to 31 December 2030, in individual countries where the above-mentioned companies operate. The discount rates applied to determine the present value of expected future cash flows in the tested cash - generating units correspond to the estimated weighted average cost of capital of individual cash -generating units in each period. Particular components of these discount rates were determined taking into account the market values of risk-free interest rates, the beta coefficient, as well as the expected market yield. The conducted impairment tests did not indicate a necessity for the Group to recognize any impairment charges on any of its cash-generating units as at 30 June 2026. Analysis of sensitivity We carried out a sensitivity analysis for all the impairment tests performed as at 30 June 2026 which involved the estimation of the value in use. Such sensitivity analysis examined the impact of changes in: ▪ discount rate applied for the terminal period, i.e. for cash flows generated after 2030; and ▪ average annual rate of change of free cash flows over the period of forecast, i.e. in the years 2026 - 2030; as factors with influence on the recoverable amount of a cash -generating unit, assuming other factors remain unchanged. The objective of such a sensitivity analysis was to examine by how much the selected model parameters would have to change so that the estimated value in use of each cash -generating unit would equal its carrying amount. The results of the conducted analysis are presented in the table below.
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I 51 Asseco Group Financial Report for the period of 6 months ended 30 June 2026 (in PLN millions) Carrying amount of cash-generating unit* Discount rate for the explicit forecast period of 5 years Terminal discount rate Break-even average annual rate of change of free cash flows (FCFF) pre-tax applied in the model pre-tax applied in the model break-even value break-even value PLN mn % % % % % % Cash-generating units within the Asseco International segment Asseco Lietuva UAB 16.2 11.5% - 12.3% 9.6% - 10.2% 12.2% 10.2% n/a n/a Asseco Spain Group 41.5 9.6% - 10.0% 7.2% - 7.5% 10.7% 8.0% 13.3% (4.2)% Asseco PST Group 173.4 9.1% - 9.4% 7.3% - 7.6% 9.9% 8.0% n/a (34.9)% * The carrying amount of a cash -generating unit represents net operating assets (including the fair value of assets recognized in purchase price allocation) and goodwill consolidated using the full method in these financial statements (hence this value does not include net debt/cash position and net non-operating assets). 6.5. Entities with significant non-controlling interests In explanatory note 3 to these interim condensed consolidated financial statements, we have presented information on entities in which the Group holds less than 100% of shares, including their company names, countries of registration, as well as equity interests and voting rights held by the Group. In the Management’s opinion, the entities with significant individual non -controlling interests are: Matrix IT Group, Asseco South Eastern Europe Group, as well as Asseco Central Europe Group, among others including Asseco Business Solutions S.A. In the case of other entities with non -controlling interests, individual non-controlling interests do not exceed 4% of total non -controlling interests therein, hence they have not been considered as entities with significant non-controlling interests. The tables below present the selected financial data of entities with significant individual non -controlling interests for the period of 6 months ended 30 June 2026 and as at 30 June 2026 as well as for respective comparable periods. These figures are presented before consolidation ad justments, including before the elimination of mutual transactions. Percentage of non-controlling interests 30 June 2026 31 December 2025 Matrix IT Group* 87.69% 87.58% Magic Group* n/a** 87.94% ASEE Group 49.11% 49.11% ACE Group 7.67% 7.67% * Percentages of non-controlling interests are calculated taking into account our direct shareholding in Formula Systems (1985) Ltd as well as indirect shareholdings in the companies of Matrix IT Ltd and Magic (in the comparable period). ** In the first quarter of 2026, Matrix IT Group and Magic Group conducted a merger. Carrying amount of non-controlling interests* Name of group 30 June 2026 31 December 2025 PLN mn (restated) PLN mn Formula Group** 4,314.6 4,527.5 ASEE Group 616.0 609.8 ACE Group (including ABS) 241.4 300.0 Other individually insignificant 6.0 9.0 Total 5,178.0 5,446.3 * Carrying amounts of non-controlling interests have been adjusted for the value of put options granted to non-controlling shareholders. ** The value of non-controlling interest in Formula Group includes, among others, the value of non-controlling interest in Matrix IT Group.
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I 52 Asseco Group Financial Report for the period of 6 months ended 30 June 2026 (in PLN millions) Net profit from continuing operations attributable to non-controlling interests for the period of 6 months ended Dividends paid out to non-controlling interests in the period of 6 months ended Name of group 30 June 2026 30 June 2025 30 June 2026 30 June 2025 PLN mn (restated) PLN mn PLN mn (restated) PLN mn Matrix IT Group** 279.2 142.0 (89.0) (64.5) Magic Group** n/a 71.9 n/a (75.9) ASEE Group 42.4 39.8 (68.8) (4.6) ACE Group (including ABS) 47.2 31.7 (75.5) (64.9) Other individually insignificant 74.9 (14.7) (587.6)* (66.2) Total 443.7 270.7 (820.9) (276.1) * Including the dividend paid out by the holding company Formula Systems (1985) Ltd in the amount of PLN 563.5 million. ** In the current reporting period, the amounts attributable to Magic Group have been presented as part of Matrix IT Group following their merger. 6.6. Receivables and contract assets The table below presents trade receivables as at 30 June 2026 as well as at 31 December 2025. 30 June 2026 31 December 2025 Non-current Current Non-current Current PLN mn PLN mn PLN mn PLN mn Trade receivables, of which: Invoiced receivables 0.2 3,691.6 0.6 3,094.8 from related parties - 2.9 - 17.7 from other entities 0.2 3,688.7 0.6 3,077.1 Uninvoiced receivables 1.3 979.8 - 831.4 from related parties - 0.5 - 2.6 from other entities 1.3 979.3 - 828.8 Receivables from operating leases - 9.3 - 10.5 from other entities - 9.3 - 10.5 Net investment leases 0.1 0.5 0.4 0.5 Allowances for expected credit losses on trade receivables (-) - (170.4) - (144.3) Total trade receivables 1.6 4,510.8 1.0 3,792.9 Corporate income tax receivable - 71.0 - 96.5 Receivables from the state and local budgets - 44.1 - 35.1 Value added tax - 26.0 - 18.2 Other - 18.1 - 16.9 Other receivables 73.7 173.2 77.1 131.2 Receivables from payment transactions processed - 106.2 - 90.6 Other receivables 73.9 77.4 77.1 47.6 Allowances for expected credit losses on other receivables (-) (0.2) (10.4) - (7.0) Total receivables from the state and local budgets and other receivables 73.7 217.3 77.1 166.3 Total receivables 75.3 4,799.1 78.1 4,055.7 The balance of other receivables includes, among others, receivables from security deposits paid -in (PLN 40.7 million), as well as receivables from the sale of shares (PLN 38.3 million).
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I 53 Asseco Group Financial Report for the period of 6 months ended 30 June 2026 (in PLN millions) Assets from contracts with customers result from the excess of the percentage of completion of implementation contracts over invoices issued. 30 June 2026 31 December 2025 Non-current Current Non-current Current PLN mn PLN mn PLN mn PLN mn Contract assets from related parties - 0.7 - - from other entities - 573.0 - 379.1 Total contract assets - 573.7 - 379.1 Both as at 30 June 2026 and 31 December 2025, the carrying amounts of receivables and contract assets were not different from their fair values. Related party transactions have been presented in explanatory note 6.18 to these interim condensed consolidated financial statements. The Group has adopted a relevant policy that allows for selling products and services to verified customers only. However, due to the dynamic macroeconomic and geopolitical situation prevailing in Poland and globally, the Group has implemented a process of even stricter monitoring of its receivables and has intensified its standard debt collection procedures. As at the date of publication of this report, we have not found any indications to increase the amount of allowances for expected credit losses or to amend the Group’s policy in this respect. Changes in the amount of allowances for expected credit losses on trade rec eivables during the period of 6 months ended 30 June 2026 and in the comparable period are presented in the table below: 6 months ended 6 months ended 30 June 2026 30 June 2025 PLN mn (restated) PLN mn Allowances as at 1 January (144.3) (154.9) Recognized during the reporting period (36.3) (29.9) Utilized during the reporting period 3.6 6.3 Reversed during the reporting period 13.5 13.4 Obtaining control over subsidiaries (0.2) (1.5) Foreign exchange differences (6.7) 7.3 Additions/(Reductions) related to discontinued operations - 1.6 Allowances as at 30 June (170.4) (157.7) 6.7. Other assets Both as at 30 June 2026 and 31 December 2025, apart from receivables and cash and cash equivalents described in other explanatory notes, the Group also held other assets as presented in the table below. 30 June 2026 31 December 2025 Non-current Current Non-current Current PLN mn PLN mn PLN mn PLN mn Financial assets carried at fair value through profit or loss Shares in companies not quoted in an active market, of which: 1,154.2 0.2 1,096.8 0.2 SI Swan UK Topco Limited 1,139.3 - 1,080.5 - Shares in companies quoted in an active market 14.4 0.1 8.1 0.1 Other assets 14.8 3.8 13.2 2.3 1,183.4 4.1 1,118.1 2.6 Financial assets carried at fair value through other comprehensive income Shares in companies not quoted in an active market 11.9 - 11.9 - Shares in companies quoted in an active market 68.7 - 72.5 - Treasury and corporate bonds - 0.3 - 0.4 Other assets 1.5 6.7 2.3 2.4
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I 54 Asseco Group Financial Report for the period of 6 months ended 30 June 2026 (in PLN millions) 82.1 7.0 86.7 2.8 Financial assets carried at amortized cost Other debt securities 0.1 - 0.1 0.4 Loans granted and bank deposits, of which: granted to related parties 2.0 6.7 3.5 6.5 granted to employees 0.8 4.0 0.8 2.2 granted to other entities 0.7 0.6 0.6 0.6 bank term deposits 6.1 241.4 5.9 61.5 9.7 252.7 10.9 71.2 Total other financial assets 1,275.2 263.8 1,215.7 76.6 Other non-financial assets 0.1 12.7 0.3 11.7 Total other assets 1,275.3 276.5 1,216.0 88.3 The balance of shares in companies not quoted in an active market mainly includes an 18.7% stake in SI Swan UK Topco Limited (the parent company of Sapiens Group which used to be c ontrolled by the Group until 17 December 2025). The fair value measurement of shares held in SI Swan UK Topco Limited (“Swan”) as at 30 June 2026 was carried out using the method of discounted cash flows. The model utilizes projected cash flows for the explicit forecast period of 8.5 years, i.e. from 1 July 2026 to 31 December 2034. Cash flows beyond the explicit forecast period were accounted for by using the terminal value. The projected cash flows and terminal value were discounted using the weighted average cost of capital of 15.5 per cent. Enterprise value calculated in this way was then adjusted for the company’s net debt, yielding equity value, which forms the basis for determining the fair value of the shares held. During the reporting period, the Group changed its method for measuring the fair value of shares held in Swan company. As at 31 December 2025, the shareholding in the company was valued based on the number of Sapiens shares held by the Group, multiplied by the transaction price of USD 4 3.5 per share (representing the sale price of the stake of shares in December 2025), and subsequently translated into the equivalent amount in PLN millions. The change in the value of financial assets carried at fair value through profit or loss resulting from their valuation was recognized in financing activities (in explanatory note 5.4) and amounted to a total of PLN 7.4 million. The remaining change in value resulted primarily from exchange differences on translation of foreign operations. Changes in the fair value measurement of financial instruments carrie d at fair value, and changes in the classification of financial instruments Apart from the change described above regarding the valuation of shares h eld in Swan, in the period of 6 months ended 30 June 2026, the Group did not change its methods for measuring the fair value of financial instruments carried at fair value nor did it transfer any instruments between individual levels of the fair value hierarchy. Both as at 30 June 2026 and 31 December 2025, the fair values of financial assets were not significantly different from their book values. 30 June 2026 Carrying amount Level 1i) Level 2 ii) Level 3 iii) PLN mn PLN mn PLN mn PLN mn Financial assets carried at fair value through profit or loss Shares in companies not quoted in an active market 1,154.4 - - 1,154.4 Shares in companies quoted in an active market 14.5 14.5 - - Other assets 18.6 - 18.6 - Total 1,187.5 14.5 18.6 1,154.4 Financial assets carried at fair value through other comprehensive income Shares in companies not quoted in an active market 11.9 - - 11.9 Shares in companies quoted in an active market 68.7 68.7 - - Corporate bonds 0.3 - 0.3 - Other 8.2 - - 8.2
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I 55 Asseco Group Financial Report for the period of 6 months ended 30 June 2026 (in PLN millions) Total 89.1 68.7 0.3 20.1 i. fair value determined on the basis of quoted prices offered in active markets for identical assets; ii. fair value determined using calculation models based on inputs that are observable, either directly or indirectly, in active markets; iii. fair value determined using calculation models based on inputs that are not observable, neither directly or indirectly, in active markets. 31 December 2025 Carrying amount Level 1i) Level 2 ii) Level 3 iii) PLN mn PLN mn PLN mn PLN mn Financial assets carried at fair value through profit or loss Shares in companies not quoted in an active market 1,097.0 - - 1,097.0 Shares in companies quoted in an active market 8.2 8.2 - - Other assets 15.5 - 15.5 - Total 1,120.7 8.2 15.5 1,097.0 Financial assets carried at fair value through other comprehensive income Shares in companies not quoted in an active market 11.9 - - 11.9 Shares in companies quoted in an active market 72.5 72.5 - - Corporate bonds 0.4 - 0.4 - Other assets 4.7 - - 4.7 Total 89.5 72.5 0.4 16.6 Descriptions of the fair value hierarchy levels are identical to those provided under the table above. 6.8. Inventories The table below presents inventories as at 30 June 2026 as well as at 31 December 2025: Inventories 30 June 2026 31 December 2025 PLN mn PLN mn Computer hardware, third-party software licenses and other goods for resale 415.2 333.2 Computer hardware, spare parts and other materials intended for the performance of repair/maintenance services 32.7 28.0 Impairment losses on inventories (55.3) (37.0) Total inventories 392.6 324.2 Changes in the amount of impairment losses on inventories during the period of 6 months ended 30 June 2026 and in the comparable period are presented in the table below: Impairment losses on inventories 6 months ended 6 months ended 30 June 2026 30 June 2025 PLN mn PLN mn Impairment losses as at 1 January (37.0) (30.8) Recognized during the reporting period (21.8) (9.5) Utilized during the reporting period 0.7 0.7 Reversed during the reporting period 3.4 4.1 Foreign exchange differences (0.6) 0.3 Impairment losses as at 30 June (55.3) (35.2) 6.9. Cash and bank deposits The table below presents cash and cash equivalents as at 30 June 2026 and 31 December 2025: 30 June 2026 31 December 2025 PLN mn PLN mn Cash at bank accounts 1,298.7 1,535.5 Cash at split payment accounts 10.7 27.2 Cash on hand 2.1 15.4 Short-term bank deposits (up to 3 months) 3,793.1 5,667.5 Other cash equivalents 0.1 0.4
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I 56 Asseco Group Financial Report for the period of 6 months ended 30 June 2026 (in PLN millions) Total cash and cash equivalents as disclosed in the statement of financial position 5,104.7 7,246.0 Interest accrued on cash and cash equivalents (1.3) (6.7) Bank overdraft facilities utilized for current liquidity management (74.8) (92.1) Total cash and cash equivalents as disclosed in the cash flow statement 5,028.6 7,147.2 Cash held at bank earns interest at variable levels, depending on interest rates. Short-term bank deposits are made for varying periods of between one day and three months and earn interest at their respective fixed interest rates. 6.10. Treasury shares As at 30 June 2026 and 31 December 2025, the Parent Company held 2,490,009 treasury shares, representing approx. 3.00% of the Parent Company’s share capital. These shares were purchas ed in 2023 at a price of PLN 80 per share. 6.11. Bank loans, borrowings and debt securities The table below presents the Group’s debt outstanding as at 30 June 2026 and 31 December 2025: 30 June 2026 31 December 2025 Non-current Current Non-current Current PLN mn PLN mn PLN mn PLN mn Bank loans 684.7 616.2 894.7 508.1 - overdraft facilities - 140.3 - 92.2 - non-revolving loans 684.7 475.9 894.7 415.9 Debt securities 755.2 695.4 427.4 628.4 Borrowings 0.4 1.8 0.9 3.1 Total 1,440.3 1,313.4 1,323.0 1,139.6 The Group’s total liabilities under all bank loans and borrowings obtained and debt securities issued aggregated at PLN 2,753.7 million as at 30 June 2026, as compared to PLN 2,462.6 million outstanding as at 31 December 2025. Our total debt increased mainly due to transactions conducted within the Formula Systems segment, including the issuance of bonds by Matrix IT Group in the first half of 2026. Bank overdraft facilities outstanding as at 30 June 2026 and 31 December 2025 are presented in the tables below. Loan currency Effective interest rate 30 June 2026 31 December 2025 Actual amount of debt PLN mn Unused amount of credit facilities PLN mn Actual amount of debt PLN mn Unused amount of credit facilities PLN mn EUR Variable interest rate 51.0 37.3 45.5 246.1 Fixed interest rate 3.1 14.1 0.3 17.5 PLN Variable interest rate 22.4 613.3** 3.1 631.0** Fixed interest rate 0.1 0.3 0.9 0.6 NIS Variable interest rate 46.8 n/a* - n/a* BAM Fixed interest rate 14.8 0.2 39.7 13.5 Other Variable interest rate - - - 26.2 Fixed interest rate 2.1 1.1 2.7 0.8 140.3 666.3 92.2 935.7 * The amount of bank overdraft facilities disclosed in this line is related to Matrix IT Group. As regards Matrix IT Group, limits available under credit facilities are negotiated with individual banks on an aggregate basis (meaning the sum of bank account overdrafts,
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I 57 Asseco Group Financial Report for the period of 6 months ended 30 June 2026 (in PLN millions) non-revolving loans and guarantees), and as at 30 June 2026 the total limit of such credit facilities reached NIS 997.7 million (PLN 1,263.3 million), compared to NIS 1,235.2 million (PLN 1,394.6 million) as at 31 December 2025. ** of which PLN 57.4 million (compared to PLN 38.9 million as at 31 December 2025) were used as collateral for guarantees. Non-revolving bank loans outstanding as at 30 June 2026 and 31 December 2025 are presented in the table below. Loan currency Effective interest rate 30 June 2026 31 December 2025 Non-current Current Non-current Current PLN mn PLN mn PLN mn PLN mn EUR Variable interest rate 99.2 13.6 91.4 20.2 Fixed interest rate 2.6 5.2 3.7 1.8 NIS Variable interest rate 27.3 53.9 38.7 52.0 Fixed interest rate 55.4 297.5 171.2 197.3 USD Variable interest rate - - 38.1 39.0 Fixed interest rate 0.2 - 0.2 - CZK Fixed interest rate 6.3 2.7 6.3 2.7 PLN Variable interest rate 487.6 95.6 535.4 95.6 Other Fixed interest rate 6.1 7.4 9.7 7.3 684.7 475.9 894.7 415.9 As at 30 June 2026 and 31 December 2025, the Group’s liabilities under bonds and other debt securities issued are attributable to the companies of Formula Systems and Matrix IT Ltd , and they are presented in the table below: Company / Group Division into short-term and long-term portion Series 30 June 2026 31 December 2025 Effective interest rate Currency PLN mn PLN mn Formula Systems long-term portion Series D 188.0 167.5 6.01% NIS short-term portion Series C 209.8 186.7 2.71% NIS Series D 0.9 0.8 6.01% NIS Formula Systems subtotal 398.7 355.0 Matrix IT Group long-term portion Series 2 317.2 - 0.5% NIS Series B 250.0 259.9 4.1% NIS short-term portion Series 2 1.8 - 0.5% NIS Series B 97.8 88.7 4.1% NIS short-term portion n/a 385.1 352.2 Bank of Israel interest rate + 0.25% NIS Matrix IT Group subtotal 1,051.9 700.8 Total bonds and other debt securities 1,450.6 1,055.8 Assets serving as collateral for bank loan facilities: Category of assets Net value of assets Utilized amount of bank loans secured with assets 30 June 2026 31 December 2025 30 June 2026 31 December 2025 PLN mn PLN mn PLN mn PLN mn Cash and cash equivalents 43.0 45.7 71.9 72.0 Land and buildings 2.6 2.9 25.7 20.5 Computers and other office equipment 9.2 - - - Transportation vehicles 2.4 2.6 2.0 2.3 Other tangible assets 26.8 24.0 9.7 9.7 Long-term investments 717.1 1,181.1 398.6 412.7 Other financial assets 3.3 3.8 0.9 0.9 Current and future receivables 53.5 65.5 52.9 47.7
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I 58 Asseco Group Financial Report for the period of 6 months ended 30 June 2026 (in PLN millions) Total 857.9 1,325.6 561.7 565.8 Some loans obtained from Polish, Slovak and Israeli banks come with the so -called covenants which impose an obligation to maintain certain financial ratios at the levels required by the bank. These ratios are related to the level of indebtedness, e.g. debt to EBITDA or debt to equity ratios, or to achieving the expected operating results. In the event a company carrying such a covenanted loan fails to satisfy the said requirements, the bank may apply a sanction in the form of a higher credit margin. Should the bank deem the new level of a ratio to be unacceptable, the bank may in certain cases exercise its rights in the collateral provided. Both as at 30 June 2026 and 31 December 2025, none of the Group’s companies infringed on any covenants defined in their bank loan agreements. Fair value of financial liabilities In the period of 6 months ended 30 June 2026, the Group did not transfer any debt instruments between individual levels of the fair value hierarchy. Both as at 30 June 2026 and 31 December 2025, the fair values of bank loans and debt securities issued were not significantly different from their book values. As at 30 June 2026 Carrying amount Level 1i) Level 2 ii) Level 3 iii) PLN mn PLN mn PLN mn PLN mn Bank loans, borrowings and debt securities Bank loans 1,300.9 - - 1,300.9 - overdraft facilities 140.3 - - 140.3 - non-revolving loans 1,160.6 - - 1,160.6 Debt securities 1,450.6 1,065.5 385.1 - Borrowings 2.2 - - 2.2 Total 2,753.7 1,065.5 385.1 1,303.1 i. fair value determined on the basis of quoted prices offered in active markets for identical assets; ii. fair value determined using calculation models based on inputs that are observable, either directly or indirectly, in active markets; iii. fair value determined using calculation models based on inputs that are not observable, neither di rectly or indirectly, in active markets. As at 31 December 2025 Carrying amount Level 1i) Level 2 ii) Level 3 iii) PLN mn PLN mn PLN mn PLN mn Bank loans, borrowings and debt securities Bank loans 1,402.8 - - 1,402.8 - overdraft facilities 92.2 - - 92.2 - non-revolving loans 1,310.6 - - 1,310.6 Debt securities 1,055.8 703.6 352.2 - Borrowings 4.0 - - 4.0 Total 2,462.6 703.6 352.2 1,406.8 Descriptions of the fair value hierarchy levels are identical to those provided under the table above. 6.12. Lease liabilities Changes in the amount of lease liabilities during the period of 6 months ended 30 June 2026 and in the comparable period are presented in the table below: 6 months ended 6 months ended 30 June 2026 30 June 2025 (restated) PLN mn PLN mn As at 1 January 846.0 977.0 Cash changes Repayment of principal amount (142.8) (121.3) Interest paid (19.1) (18.9) Non-cash changes Interest accrued 20.3 20.7 Non-cash increase in lease liabilities (incl. new contracts, modifications and indexation of contracts) 111.9 153.4 Non-cash decrease in lease liabilities (incl. modifications, indexation and early termination of contracts) (6.3) (10.0) Acquisitions of new companies 6.6 1.2 Foreign exchange differences recognized in financial income/expenses (0.4) (0.6) Additions/(Reductions) related to discontinued operations - (4.4) Exchange differences on translation of foreign operations 68.1 (27.2)
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I 59 Asseco Group Financial Report for the period of 6 months ended 30 June 2026 (in PLN millions) As at 30 June, of which: 884.3 969.9 Non-current 635.1 720.6 Current 249.2 249.3 6.13. Other financial liabilities 30 June 2026 31 December 2025 Other financial liabilities Non-current Current Non-current Current PLN mn PLN mn PLN mn PLN mn Dividends payable - 72.3 - 33.2 Liabilities under deferred and/or conditional payments for controlling interests 28.9 95.8 73.5 33.4 Liabilities from acquisition of non-controlling interests in subsidiaries (put options) 337.8 405.1 330.3 351.1 Other financial liabilities 0.1 0.1 - 0.2 Total 366.8 573.3 403.8 417.9 Both as at 30 June 2026 and 31 December 2025, dividends payable comprised basically dividends payable to non-controlling interests in direct and indirect subsidiaries of the Parent Company. As at 30 June 2026 and 31 December 2025, the Group carried estimated liabilities arising from deferred and/or conditional payments for controlling interests. The amounts of the above -mentioned liabilities have been measured using the price calculation formula as defined in the controlling interest acquisition agreements, which usually corresponds to a given company’s profit for the contractual term multiplied by a predetermined coefficient. The table below presents liabilities arising from deferred and/or conditional payments for controlling interests in subsidiaries as at 30 June 2026 and 31 December 2025: Liabilities under deferred and/or conditional payments for controlling interests 30 June 2026 31 December 2025 PLN mn PLN mn Liabilities from acquisitions made within the Asseco International segment 42.0 36.1 Liabilities from acquisitions made within the Formula Systems segment 82.7 70.8 Total 124.7 106.9 As at 30 June 2026 and 31 December 2025, the Group had liabilities arising from acquisition of non -controlling interests in subsidiaries (put options). The amounts of such liabilities have been estimated using the formula for calculation of the exercise price of options that the Group granted to non -controlling shareholders, which corresponds to a given company’s profit for the contractual term multiplied by a predetermined coefficient. The table below presents liabilities arising from put options granted to non-controlling shareholders in subsidiaries as at 30 June 2026 and 31 December 2025: Liabilities from acquisition of non-controlling interests in subsidiaries (put options) 30 June 2026 31 December 2025 PLN mn PLN mn Liabilities of companies within the Asseco Poland segment 22.4 21.7 Liabilities of companies within the Asseco International segment 161.5 220.7 Liabilities of companies within the Formula Systems segment 559.0 439.0 742.9 681.4 Both as at 30 June 2026 and 31 December 2025, the fair values of financial liabilities were not significantly different from their book values. In the period of 6 months ended 30 June 2026, the Group did not change its methods for measuring the fair value of financial liabilities carried at fair value nor did it transfer any liabilities between individual levels of the fair value hierarchy.
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I 60 Asseco Group Financial Report for the period of 6 months ended 30 June 2026 (in PLN millions) As at 30 June 2026 Carrying amount Level 1i) Level 2 ii) Level 3 iii) PLN mn PLN mn PLN mn PLN mn Financial liabilities Liabilities under deferred and/or conditional payments for controlling interests 124.7 - - 124.7 Liabilities from acquisition of non-controlling interests in subsidiaries (put options) 742.9 - - 742.9 Other financial liabilities 0.2 - - 0.2 Total 867.8 - - 867.8 i. fair value determined on the basis of quoted prices offered in active markets for identical assets; ii. fair value determined using calculation models based on inputs that are observable, either directly or indirectly, in active markets; iii. fair value determined using calculation models based on inputs that are not observable, neither di rectly or indirectly, in active markets. As at 31 December 2025 Carrying amount Level 1i) Level 2 ii) Level 3 iii) PLN mn PLN mn PLN mn PLN mn Financial liabilities Liabilities under deferred and/or conditional payments for controlling interests 106.9 - - 106.9 Liabilities from acquisition of non-controlling interests in subsidiaries (put options) 681.4 - - 681.4 Other financial liabilities 0.2 - - 0.2 Total 788.5 - - 788.5 i. fair value determined on the basis of quoted prices offered in active markets for identical assets; ii. fair value determined using calculation models based on inputs that are observable, either directly or indirectly, in active markets; iii. fair value determined using calculation models based on inputs that are not observable, neither directly or indirectly, in active markets. 6.14. Trade payables, state budget liabilities and other liabilities The table below presents the Group’s liabilities outstanding as at 30 June 2026 and 31 December 2025: 30 June 2026 31 December 2025 Non-current Current Non-current Current PLN mn PLN mn PLN mn PLN mn Trade payables and contractual penalties, of which: 2.0 1,939.0 2.0 1,958.8 Invoiced payables 0.6 1,268.6 0.4 1,298.5 to related parties - 3.3 - 1.6 to other entities 0.6 1,265.3 0.4 1,296.9 Uninvoiced payables 1.4 661.4 1.6 651.2 to related parties - 2.7 - 5.2 to other entities 1.4 658.7 1.6 646.0 Liabilities arising from contractual penalties - 9.0 - 9.1 Corporate income tax payable - 197.0 - 589.9 Liabilities to the state and local budgets - 280.3 - 369.3 Value added tax (VAT) - 160.7 - 234.3 Personal income tax (PIT) - 22.5 - 40.4 Social insurance - 77.0 - 84.5 Withholding income tax - 4.6 - 3.2 Other - 15.5 - 6.9 Other liabilities 2.8 729.8 3.5 647.4 Liabilities from payment transactions processed - 106.2 - 93.2 Liabilities to employees (including salaries payable) - 581.4 - 519.0
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I 61 Asseco Group Financial Report for the period of 6 months ended 30 June 2026 (in PLN millions) Other liabilities 2.8 42.2 3.5 35.2 Total 4.8 3,146.1 5.5 3,565.4 Trade payables are non -interest bearing. Related party transactions have been presented in explanatory note 6.18 to these interim condensed consolidated financial statements. 6.15. Contract liabilities The table below presents the Group’s liabilities from contracts with customers as at 30 June 2026 and 31 December 2025: 30 June 2026 31 December 2025 Non-current Current Non-current Current PLN mn PLN mn PLN mn PLN mn Liabilities from valuation of IT contracts, of which: - 117.7 - 144.8 to related parties - 0.1 - 0.1 to other entities - 117.6 - 144.7 Contract liabilities, of which: 178.4 1,251.7 111.9 937.8 Maintenance services and license fees 165.9 1,149.4 107.1 842.2 Implementation processes 7.4 18.5 0.2 15.1 Obligations to supply hardware - 24.0 - 27.5 Other prepaid services 5.1 59.8 4.6 53.0 Total contract liabilities 178.4 1,369.4 111.9 1,082.6 6.16. Provisions Changes in the amount of provisions during the period of 6 m onths ended 30 June 2026 and in the comparable period are presented in the table below: 6 months ended 6 months ended 30 June 2026 30 June 2025 (restated) PLN mn PLN mn As at 1 January (restated) 109.4 128.6 Obtaining control over subsidiaries 3.7 3.7 Provisions created during the reporting period 22.8 19.4 Discount change and actuarial gains/losses (3.3) (2.1) Provisions utilized during the reporting period (15.9) (5.4) Provisions reversed during the reporting period (6.6) (10.7) Loss of control over subsidiaries - (0.3) Change in presentation - 1.3 Additions/(Reductions) related to discontinued operations - 7.3 Exchange differences on translation of foreign operations 4.0 (3.5) As at 30 June, of which: 114.1 138.3 Non-current 74.2 82.3 Current 39.9 56.0
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I 62 Asseco Group Financial Report for the period of 6 months ended 30 June 2026 (in PLN millions) 6.17. Accruals and deferred income As at 30 June 2026 and 31 December 2025, accruals and deferred income included the following items: 30 June 2026 31 December 2025 Non-current Current Non-current Current PLN mn PLN mn PLN mn PLN mn Accruals, of which: 8.8 683.4 6.1 647.7 Accruals for unused holiday leaves - 249.9 - 216.1 Accruals for employee bonuses 8.8 433.5 6.1 431.6 Deferred income, of which: 46.3 11.8 46.9 7.7 Grants related to assets 43.8 4.4 44.2 4.8 Other 2.5 7.4 2.7 2.9 Total accruals and deferred income 55.1 695.2 53.0 655.4 The total amount of accruals comprises accruals for unused holiday leaves, as well as accruals for remunerations of the current period to be paid out in future periods which result from the bonus incentive schemes applied by the Group. The balance of deferred income comprises mainly grants related to assets. Grants related to assets represent subsidies received by the Group in connection with its development proj ects or projects related to the creation of IT competence centers. 6.18. Related party transactions Sales Purchases 6 months ended 6 months ended 6 months ended 6 months ended 30 June 2026 30 June 2025 30 June 2026 30 June 2025 PLN mn PLN mn PLN mn PLN mn Transactions with associates and joint ventures 9.2 11.7 0.2 0.7 Transactions with entities or individuals related through the Key Management Personnel of the Group 0.5 22.7 3.1 4.5 Transactions with Members of the Management Board and Supervisory Board and Commercial Proxies of Asseco Poland S.A. - - 0.1 0.4 Transactions with Members of Management Boards and Supervisory Boards and Commercial Proxies of other companies of the Group - - 2.0 2.0 Total related party transactions 9.7 34.4 5.4 7.6 Sales to related parties include revenues from the sale of goods and IT services related to ongoing IT projects as well as from other activities. Purchases from related parties include purchases of goods and services related to ongoing IT projects, purchases of consulting services, as well as rental of buildings. The decrease in sales and purchases disclosed in transactions with entities or i ndividuals related through the Key Management Personnel of the Group in the reporting period, in comparison with the comparable period, resulted from a change in the composition of the Supervisory Board of Asseco Poland S.A. which took place on 1 April 2025. Following this change, since 1 April 2025, Polsat Plus Group has no longer been related to Asseco Group through the Key Management Personnel.
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I 63 Asseco Group Financial Report for the period of 6 months ended 30 June 2026 (in PLN millions) Trade receivables, other receivables and contract assets as at Trade payables, contract liabilities, lease liabilities and other liabilities as at 30 June 2026 31 December 2025 30 June 2026 31 December 2025 PLN mn PLN mn PLN mn PLN mn Transactions with associates and joint ventures 3.9 4.9 0.6 1.0 Transactions with entities or individuals related through the Key Management Personnel of the Group 12.8 31.2 18.5 25.0 Transactions with Members of the Management Board and Supervisory Board and Commercial Proxies of Asseco Poland S.A. - - - 0.1 Transactions with Members of Management Boards and Supervisory Boards and Commercial Proxies of other companies of the Group 13.5 17.8 18.9 15.9 Total related party transactions 30.2 53.9 38.0 42.0 As at 30 June 2026, total receivables from related parties comprised trade receivables and contract assets amounting to PLN 4.1 million, as well as other receivables amounting to PLN 26.1 million. As at 31 December 2025, total receivables from related parties comprised trade receivables and c ontract assets amounting to PLN 20.3 million, as well as other receivables amounting to PLN 33.6 million. As at 30 June 2026, total liabilities to related parties comprised trade payables and contract liabilities amounting to PLN 6.5 million, as well as other liabilities amounting to PLN 31.5 million. As at 31 December 2025, total liabilities to related parties comprised trade payables and contract liabilities amounting to PLN 7.8 million, as well as other liabilities amounting to PLN 34.2 million. Loans granted Borrowings 30 June 2026 31 December 2025 30 June 2026 31 December 2025 PLN mn PLN mn PLN mn PLN mn Transactions with associates and joint ventures 4.7 4.5 - - Transactions with Members of the Management Board and Supervisory Board and Commercial Proxies of Asseco Poland S.A. 3.2 4.7 - - Transactions with Members of Management Boards and Supervisory Boards and Commercial Proxies of other companies of the Group 0.8 0.8 - 0.3 Total related party transactions 8.7 10.0 - 0.3 During the reporting period, all transactions with related parties of Asseco Group were carried out on an arm’s length basis.
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I 64 Asseco Group Financial Report for the period of 6 months ended 30 June 2026 (in PLN millions) 7. Explanatory notes to the consolidated statement of cash flows 7.1. Cash flows – operating activities ▪ The table below presents items included in the line ‘Changes in working capital’: 6 months ended 6 months ended 30 June 2026 30 June 2025 (restated) PLN mn PLN mn Change in inventories (49.1) 3.9 Change in receivables and non-financial assets (671.7) (1.7) Change in liabilities (18.6) (332.0) Change in prepayments and accruals 50.2 (2.2) Change in provisions (3.0) (0.3) Total (692.2) (332.3) ▪ The line ‘Net cash provided by (used in) operating activities from discontinued operations’ includes income tax in the amount of PLN 449.6 million relating to the sale of shares in Sapiens International Corporation N.V. (“Sapiens”) that was paid by Formula Systems (1985) Ltd (the seller of shares) in the first quarter of 2026. The Sapiens sale transaction was finalized on 17 December 2025 and described in explanatory note 3.11 to the consolidated financial statements of the Group for the year ended 31 December 2025 which were published on 31 March 2026. 7.2. Cash flows – investing activities In the period of 6 months ended 30 June 2026 as well as in the comparable period, the amount of cash flows from investing activities was affected primarily by the following transactions: ▪ Acquisition of property, plant and equipment and intangible assets: 6 months ended 6 months ended 30 June 2026 30 June 2025 (restated) PLN mn PLN mn Acquisition of property, plant and equipment (98.8) (94.5) Expenditures for development projects (26.3) (34.8) Acquisition of other intangible assets (8.9) (19.3) Total (134.0) (148.6) ▪ Acquisition of subsidiaries, associates and joint ventures, net of cash and cash equivalents in subsidiaries acquired as at the date of obtaining control: 6 months ended 6 months ended 30 June 2026 30 June 2025 (restated) PLN mn PLN mn Acquisitions made within the Asseco Poland segment - (13.2) Acquisitions made within the Asseco International segment (12.1) (45.5) Acquisitions made within the Formula Systems segment (152.0) (95.0) Total (164.1) (153.7)
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I 65 Asseco Group Financial Report for the period of 6 months ended 30 June 2026 (in PLN millions) ▪ Cash flows related to loans and bank deposits: Bank deposits exceeding 3 months completed and loans collected 6 months ended 6 months ended 30 June 2026 30 June 2025 (restated) PLN mn PLN mn Loans for employees 1.0 1.2 Loans for related parties 1.6 1.4 Loans for other entities 0.7 - Bank term deposits with original maturity exceeding 3 months 673.4 15.8 Total 676.7 18.4 Bank deposits exceeding 3 months placed and loans granted 6 months ended 6 months ended 30 June 2026 30 June 2025 (restated) PLN mn PLN mn Loans for employees (1.1) (1.6) Loans for related parties - (4.3) Loans for other entities (0.4) (5.6) Bank term deposits with original maturity exceeding 3 months (850.8) (10.8) Total (852.3) (22.3) 7.3. Cash flows – financing activities In the period of 6 months ended 30 June 2026 as well as in the comparable period, the amount of cash flows from financing activities was affected primarily by the following transactions: ▪ Proceeds from bank loans and borrowings: 6 months ended 6 months ended 30 June 2026 30 June 2025 PLN mn PLN mn Bank loans and borrowings obtained within the Asseco Poland segment 1.8 1.4 Bank loans and borrowings obtained within the Asseco International segment 38.2 59.9 Bank loans and borrowings obtained within the Formula Systems segment 457.1 243.7 Total 497.1 305.0 ▪ Repayments of bank loans and borrowings: 6 months ended 6 months ended 30 June 2026 30 June 2025 PLN mn PLN mn Bank loans repaid within the Asseco Poland segment (49.9) (49.9) Bank loans repaid within the Asseco International segment (23.1) (33.6) Bank loans repaid within the Asseco International segment (571.3) (179.1) Total (644.3) (262.6)
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I 66 Asseco Group Financial Report for the period of 6 months ended 30 June 2026 (in PLN millions) ▪ Expenditures for acquisition of non-controlling interests: 6 months ended 6 months ended 30 June 2026 30 June 2025 PLN mn PLN mn Expenditures within the Asseco International segment (74.2) (1.7) Expenditures within the Formula Systems segment (116.3) (83.6) Total (190.5) (85.3) ▪ In the period of 6 months ended 30 June 2026, Matrix IT (a company of the Formula Systems segment) issued corporate bonds with a value of NIS 297.3 million. The bonds bear interest at a fixed rate of 0.5% and have a maturity date of 1 February 2031. The bonds are convertible into the company’s shares. Cash inflows from this transaction amounted to PLN 360.1 million. ▪ In the period of 6 months ended 30 June 2026, Matrix IT (a company of the Formula Systems segment) redeemed its previously issued corporate bonds. Cash outflows for this purpose amounted to PLN 41.1 million.
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I 67 Asseco Group Financial Report for the period of 6 months ended 30 June 2026 (in PLN millions) 8. Other explanatory notes 8.1. Off-balance-sheet liabilities The table below presents our contingent liabilities as at 30 June 2026 and 31 December 2025: Contingent liabilities 30 June 2026 31 December 2025 PLN mn PLN mn Liabilities from guarantees of due performance of contracts Liabilities falling due within 3 months 24.3 16.5 Liabilities falling due within 3 to 12 months 328.2 260.2 Liabilities falling due within 1 to 5 years 160.0 159.7 Liabilities falling due after 5 years 13.4 16.8 Total 525.9 453.2 Liabilities arising from bank guarantees and guarantee bonds Liabilities falling due within 3 months 2.5 2.2 Liabilities falling due within 3 to 12 months 28.4 33.6 Liabilities falling due within 1 to 5 years 1.5 1.0 Liabilities falling due after 5 years - - Total 32.4 36.8 Other contingent liabilities 0.3 2.4 Guarantees of due performance of contracts granted by the Group were purchased from banks, hence the contingent liabilities disclosed in the table above may become due as a result of the bank’s recourse to the Group in the event of failure to perform our contractual obligations. In the Management’s opinion, the probability of having to satisfy our liabilities from guarantees of due performance of contracts as presented in the table above is negligible; however, due to their amount, it was decided to make an appropriate disclosure in these interim condensed consolidated financial statements of Asseco Group. None of the above -described guarantee obligations meet the definition of a financial guarantee under IFRS 9, and therefore such commitments are not recognized as liabilities in the stateme nt of financial position of the Group as at 30 June 2026 or 31 December 2025. As at 30 June 2026, there were no guarantees granted by Asseco Central Europe a.s. to its associated companies or joint ventures as described in the annual financial statements of Asseco Group for the year 2025, in explanatory note 10.1. Disputes in litigation at the end of the reporting period • Asseco International segment During the reporting period, a company of AES Group (of the Asseco International segment) was involved in a court dispute in which the company was sued for EUR 2.2 million (PLN 9.5 million). The dispute concerns the cancellation of an implementation contract and compensation for damages incurred. The company filed a counter-claim for unpaid invoices and lost profits amounting to EUR 0.7 million (PLN 3.0 million). As at the reporting date, all unpaid receivables from this customer were covered by an allowance and the company recognized a liability of EUR 1.8 million (PLN 7.7 million) in connection with the pending dispute. • Formula Systems segment In the reporting period, Matrix IT Group (of the Formula Systems segment) was party to court proceedings where the total amount in dispute was NIS 7.0 million (PLN 7.5 million). Additionally, in December 2023, a court in Israel requested Matrix IT for disclosure of documents in order to investigate the possibility of filing a lawsuit against the company by its minority shareholder. The respondents are the CEO of Matrix IT and members of its Board of Directors, and the lawsuit challenges the remuneration awarded to the company’s CEO despite the lack of approval by the Shareholders’ Meeting. Matrix IT resp onded to the court’s request in the second quarter of 2024, subsequently the court proceedings commenced in the first quarter of 2025 and are still underway.
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I 68 Asseco Group Financial Report for the period of 6 months ended 30 June 2026 (in PLN millions) In the reporting period, ZAP Group (which was acquired by Formula Systems in 2021) was party to court proceedings where the total amount in dispute was NIS 101.2 million (PLN 128.1 million), of which NIS 97.5 million (PLN 123.5 million) concerned disputes that had been already pendin g before the acquisition of ZAP Group and any potential claims resulting from such lawsuits were secured in an appropriate amount in the acquisition agreement and thus should not weigh upon the financial results of Asseco Group in the future. The remaining amount of NIS 3.7 million (PLN 4.7 million) is related to two legal disputes concerning alleged breaches of contracts by ZAP Group. The first dispute for the amount of NIS 2. 7 million (PLN 3.4 million) was concluded with a settlement in the second quarter of 2026, whilst the second dispute for NIS 1 million (PLN 1.3 million) is still pending in court. During the reporting period, Formula Systems (1985) Ltd was engaged in a dispute that began in 2020, in which Formula Systems (1985) Ltd and members of its management b odies were sued personally by a minority shareholder, who holds 28 shares representing 0.0001% of the total number of shares in this company. The lawsuit concerns the correctness of granting the stock option plan to Mr. Guy Bernstein (CEO of Formula Systems) in 2020, the terms and value of which are described in explanatory note 5.2 in the consolidated financial statements for the year 2020, which was awarded to the CEO by a resolution of the Board of Directors that overruled the decision made by the General Meeting of Shareholders. In the lawsuit, the shareholder has questioned the correctness of the adopted procedure and has also alleged irregularities in the implementation of the option plans of 2011 and 2012. The lawsuit also c oncerns the remuneration of the company’s CFO. The shareholder’s objection asserts acting to the detriment of minority shareholders. After consulting with legal advisors, the company has deemed the claim to be unfounded, considering that both the Board of Directors and the company’s m anaging officers (including the CEO and CFO) acted in accordance with the law. Formula Systems (1985) Ltd informed the Securities and Exchange Commission of the details of the claim in 6 -K forms which are available to the public. In 2023, the court acceded to the company’s request to dismiss the claim due to a change in the factual situation in dispute and in 2024 the plaintiff appealed against that court decision to the Israeli Supreme Court. The current proceedings have been pending before the Supreme Court in Israel since 2024. In the opinion of Company’s Management Board, the provisions for pending li tigation that are recognized in these interim condensed consolidated financial statements have been created in a sufficient amount to cover possible risks arising from existing disputes. Except for those described above, during the reporting period, no proceedings were pending before any court or arbitration authority concerning any significant liabilities of Asseco Group companies. 8.2. Seasonal and cyclical business The Group’s sales revenues are subject to some seasonality in individual quarters of the year. The fourth quarter revenues tend to be somewhat higher than in the remaining periods, as bulk of such turnover is generated from sale of IT services for large enterprises and public administration. Such entities often decide to make higher purchases of hardware and licenses in the last months of a year. 8.3. Employment Number of employees in the Group companies as at 30 June 2026 31 December 2025 Management Board of the Parent Company 12 12 Management Boards of the Group companies 219 216 Production departments 26,957 26,294 Sales departments 1,708 1,681 Administration departments 2,036 2,003 Total 30,932 30,206 Number of employees in the Group companies as at 30 June 2026 31 December 2025 Asseco Poland segment 4,135 3,880 Asseco International segment 8,689 8,729 Formula Systems segment 18,108 17,597
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I 69 Asseco Group Financial Report for the period of 6 months ended 30 June 2026 (in PLN millions) Total 30,932 30,206 8.4. Significant events after the reporting period • Signing an agreement to acquire shares in Laor Energy (1993) Ltd by Matrix Group On 9 July 2026, Matrix IT Systems Ltd signed an agreement for the acquisition of 80% of shares in Laor Energy (1993) Ltd, a company based in Israel. The purchase price amounted to NIS 73.0 million (PLN 90.9 million). The acquisition is conditional and its completion is subject to obtaining approval from the Israel Competition Authority. • Completion of the process of winding-up KKI-BCI Sp. z o.o. in liquidation On 29 July 2026, the Ordinary General Meeting of KKI -BCI Sp. z o.o. in liquidation adopted a resolution to conclude the company's liquidation process. On the same day, the District Court decided to remove that company from the National Court Register. The decision became legally binding on 7 August 2026. • Acquisition of Mc Comp S.A. by Asseco Poland S.A. On 30 July 2026, Asseco Poland acquired 38,644,627 shares in Mc Comp S.A. representing 96.37% of the share capital and 97.35% of total voting rights at the General Meeting of Shareholders that company. The purchase price amounted to PLN 47.2 million. • Acquisition of RandTech Computing, LDA by Asseco PST Holding - SGPS, S.A. On 3 August 2026, Asseco PST Holding - SGPS, S.A. acquired 58.01% of share s in RandTech Computing, LDA, a company based in Portugal. The purchase price amounted to EUR 2.8 million (PLN 12.0 million). • Increase of shareholding in Comblack IT Ltd by Magic Group On 3 August 2026, Magic Software Enterprises Ltd increased its equity interest in Comblack IT Ltd by additional 19.76%. As a result of this transaction, Magic Software Enterpri ses Ltd holds 100% of shares in Comblack IT Ltd. • Increase of shareholdings in ASEE Group companies On 10 August 2026, Payten Holding S.A. increased its equity interest in IfthenPay, Lda by 20%. Following this transaction, Payten Holding S.A. holds 100% of shares in IfthenPay, Lda. The purchase price of the acquired shares amounted to EUR 4.7 million (PLN 20.2 million). On 10 August 2026, ASEE Sh.p.k. increased its equity interest in Helius Systems Sh.p.k. by 20%. Following this transaction, ASEE Sh.p.k. holds 100% of shares in Helius Systems Sh.p.k. The purchase price of the acquired shares amounted to EUR 2.6 million (PLN 11.2 million). • Acquisition of Meckano Ltd by Michpal Group On 20 August 2026, Michpal Technologies Ltd acquired 70% of shares in Meckano Ltd, a company based in Israel. The purchase price amounted to NIS 66.0 million (PLN 81.6 million). • Signing an agreement to acquire shares in Interspace Ltd by Michpal Group On 25 August 2026, Michpal Technologies Ltd signed an agreement for the acquisition of 70% of shares in Interspace Ltd, a company based in Israel . The purchase price amounted to NIS 56.0 million (PLN 69.0 million). The acquisition is conditional and its completion is subject to obtaining approval from the Israel Competition Authority. 8.5. Significant events related to prior years Until the date of preparing these interim condensed consolidated financial statements for the period of 6 months ended 30 June 2026, we have not observed any significant events related to prior years, which have not but should have been included in these financial statements.
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I 70 Asseco Group Financial Report for the period of 6 months ended 30 June 2026 (in PLN millions) Approval for publication by the Management Board
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I 71 Asseco Group Financial Report for the period of 6 months ended 30 June 2026 (in PLN millions) These interim condensed consolidated financial statements of Asseco Group for the period of 6 months ended 30 June 2026 have been approved for publication by the Management Bo ard of Asseco Poland S.A. on 27 August 2026. Management Board: Adam Góral President of the Management Board $# Adam Góral $# Grzegorz Bartler Vice President of the Management Board $# Grzegorz Bartler $# Tomasz Bendlewski Vice President of the Management Board $# Tomasz Bendlewski $# Andrzej Dopierała Vice President of the Management Board $# Andrzej Dopierała $# Krzysztof Groyecki Vice President of the Management Board $# Krzysztof Groyecki $# Rafał Kozłowski Vice President of the Management Board $# Rafał Kozłowski $# Marek Panek Vice President of the Management Board $# Marek Panek $# Zbigniew Pomianek Vice President of the Management Board $# Zbigniew Pomianek $# Karolina Rzońca-Bajorek Vice President of the Management Board $# Karolina Rzońca-Bajorek $# Sławomir Szmytkowski Vice President of the Management Board $# Sławomir Szmytkowski $#
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I 72 Asseco Group Financial Report for the period of 6 months ended 30 June 2026 (in PLN millions) Artur Wiza Vice President of the Management Board $# Artur Wiza $# Gabriela Żukowicz Vice President of the Management Board $# Gabriela Żukowicz $# Person responsible for the preparation of interim condensed consolidated financial statements: Rafał Obodziński Director of the Financial Reporting Department $# {50} Rafał Obodziński $#
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I 73 Asseco Group Financial Report for the period of 6 months ended 30 June 2026 (in PLN millions) Asseco Poland S.A. 14 Olchowa St., 35-322 Rzeszów, Poland Phone: +48 17 888 55 55 Fax: +48 17 888 55 50 Email: info@asseco.pl inwestor.asseco.com