Interim report
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1 Financial Report of Wirtualna Polska Holding SA Group for the period of 6 months ended 3 0 June 2026 [ TRANSLATION ONLY ] Financial Report of Wirtualna Polska Holding Group for the period of 6 months ending 30 June 2026
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2 Financial Report of Wirtualna Polska Holding SA Group for the period of 6 months ended 3 0 June 2026 [ TRANSLATION ONLY ] CONTENTS OF THE REPORTS MANAGEMENT’S REPORT ON THE ACTIVITIES OF WIRTUALNA POLSKA GROUP FOR THE PERIOD OF 6 MONTHS ENDING 30 JUNE 2026 ................................ ................................ ................................ ............... 6 1. DISCUSSION ON THE OPERATING RESULTS AND THE FINANCIAL SITUATION OF WIRTUALNA POLSKA HOLDING CAPITAL GROUP ............................................................................................................................ 7 2. CHARACTERISTICS OF WIRTUALNA POLSKA HOLDING CAPITAL GROUP .......................................... 26 3. FACTORS AND EVENTS, IN PARTICULAR THOSE OF AN UNUSUAL NATURE, HAVING A SIGNIFICANT IMPACT ON THE OPERATIONS AND FINANCIAL RESULTS OF THE COMPANY AND THE CAPITAL GROUP ...... 32 4. FACTORS WHICH, IN THE MANAGEMENT BOARD’S OPINION, WILL AFFECT THE FINANCIAL RESULTS OF THE COMPANY AND THE CAPITAL GROUP IN FUTURE PERIODS ............................................................. 34 5. SIGNIFICANT EVENTS THAT OCCURRED IN THE FIRST HALF OF 2026 ................................................ 38 6. SHARES AND SHAREHOLDING STRUCTURE ...................................................................................... 40 7. ADDITIONAL INFORMATION .............................................................................................................. 44 8. SELECTED CONSOLIDATED FINANCIAL DATA TRANSLATED INTO EUR .............................................. 46 MANAGEMENT BOARD’S STATEMENT ................................ ................................ ................................ .......48 CONDENSED INTERIM CONSOLIDATED FINANCIAL STATEMENTS OF WIRTUALNA POLSKA CAPITAL GROUP FOR THE SIX-MONTH PERIODS ENDED 30 JUNE 2026 ................................ ................................ .49 CONDENSED INTERIM CONSOLIDATED STATEMENT OF PROFIT OR LOSS AND OTHER COMPREHENSIVE INCOME ................................ ................................ ................................ .......................... 50 CONDENSED INTERIM CONSOLIDATED STATEMENT OF FINANCIAL POSITION ................................ .....51 CONDENSED INTERIM CONSOLIDATED STATEMENT OF CHANGES IN EQUITY ................................ ......52 CONDENSED INTERIM CONSOLIDATED STATEMENT OF CASH FLOWS ................................ ................... 54 NOTES TO THE CONDENSED INTERIM CONSOLIDATED FINANCIAL STATEMENTS ................................ 55 1. GENERAL INFORMATION .................................................................................................................. 55 2. DESCRIPTION OF SIGNIFICANT ACCOUNTING POLICIES .................................................................. 55 3. APPROVAL OF THE CONSOLIDATED FINANCIAL STATEMENTS FOR PUBLICATION ............................ 59 4. SIGNIFICANT VALUES BASED ON JUDGEMENTS AND ESTIMATES ...................................................... 59 5. EXPLANATORY INFORMATION REGARDING SEASONALITY OF THE GROUP’S OPERATIONS ............... 63 6. INFORMATION ON OPERATING SEGMENTS ....................................................................................... 64 7. GROUP STRUCTURE ......................................................................................................................... 65 8. FACTORS AND EVENTS HAVING A SIGNIFICANT IMPACT ON THE GROUP’S OPERATIONS AND FINANCIAL RESULTS .................................................................................................................................... 65 9. SIGNIFICANT AGREEMENTS AND EVENTS THAT OCCURRED IN THE FIRST HALF YEAR OF 2026 ........ 65 10. REVENUE FROM SALES ..................................................................................................................... 65 11. EXTERNAL SERVICES ........................................................................................................................ 66 12. EBITDA AND ADJUSTED EBITDA ......................................................................................................... 67 13. ADJUSTED NET PROFIT...................................................................................................................... 68 14. OTHER OPERATING INCOME............................................................................................................. 68 15. OTHER OPERATING EXPENSES ......................................................................................................... 69 16. FINANCIAL INCOME AND FINANCE COSTS ....................................................................................... 69
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3 Financial Report of Wirtualna Polska Holding SA Group for the period of 6 months ended 3 0 June 2026 [ TRANSLATION ONLY ] 17. CURRENT AND DEFERRED INCOME TAX ........................................................................................... 70 18. EARNINGS PER SHARE ...................................................................................................................... 72 19. CHANGES IN IMPAIRMENT ALLOWANCES FOR ASSETS..................................................................... 73 20. PROPERTY, PLANT AND EQUIPMENT, INTANGIBLE ASSETS AND PROGRAM ASSETS .......................... 73 21. GOODWILL ....................................................................................................................................... 73 22. TRADE RECEIVABLES AND OTHER ASSETS ........................................................................................ 74 23. SHARE CAPITAL ................................................................................................................................ 74 24. INCENTIVE PLAN – SHARE-BASED PAYMENTS ................................................................................... 76 25. LOANS, BORROWINGS AND LEASES ................................................................................................. 76 26. PROVISIONS ..................................................................................................................................... 79 27. TRADE PAYABLES AND OTHER LIABILITIES ........................................................................................ 80 28. NON-CURRENT ASSETS (OR DISPOSAL GROUPS) HELD FOR SALE AND RELATED LIABILITIES, AND GAIN ON DISPOSAL OF A SUBSIDIARY ......................................................................................................... 81 29. INFORMATION ON LITIGATION .......................................................................................................... 82 30. FAIR VALUE ESTIMATION ................................................................................................................... 82 31. OBJECTIVES AND PRINCIPLES OF FINANCIAL RISK MANAGEMENT ................................................... 83 32. RELATED PARTY DISCLOSURES ........................................................................................................ 85 33. NOTES TO THE STATEMENT OF CASH FLOWS ................................................................................... 86 34. INFORMATION ON GUARANTEES GRANTED, SURETIES FOR LOANS OR BORROWINGS..................... 86 35. OTHER INFORMATION WHICH, IN THE GROUP’S OPINION, IS MATERIAL FOR THE ASSESSMENT OF THE GROUP’S EMPLOYMENT, ASSET AND FINANCIAL POSITION, FINANCIAL RESULTS AND CHANGES THERETO, AS WELL AS INFORMATION MATERIAL FOR THE ASSESSMENT OF THE GROUP’S ABILITY TO MEET ITS OBLIGATIONS ........................................................................................................................................ 87 36. EVENTS AFTER THE BALANCE SHEET DATE ....................................................................................... 88 CONDENSED INTERIM SEPARATE FINANCIAL STATEMENTS OF WIRTUALNA POLSKA HOLDING FOR THE SIX-MONTH PERIODS ENDED 30 JUNE 2026 ................................ ................................ ...................... 89 CONDENSED INTERIM SEPARATE STATEMENT OF PROFIT OR LOSS AND OTHER COMPREHENSIVE INCOME ................................ ................................ ................................ ................................ ......................... 90 CONDENSED INTERIM SEPARATE STATEMENT OF FINANCIAL POSITION ................................ ..............91 CONDENSED INTERIM SEPARATE STATEMENT OF CHANGES IN EQUITY ................................ ................ 92 CONDENSED INTERIM SEPARATE STATEMENT OF CASH FLOWS ................................ ............................. 93 1. GENERAL INFORMATION .................................................................................................................. 94 2. BASIS FOR PREPARATION OF THE CONDENSED INTERIM FINANCIAL STATEMENTS .......................... 94 3. CORRECTIONS OF PRIOR-PERIOD ERRORS AND RESTATEMENT OF COMPARATIVE INFORMATION .. 94 4. NEW AND AMENDED STANDARDS AND INTERPRETATIONS .............................................................. 96 5. APPROVAL OF THE SEPARATE FINANCIAL STATEMENTS FOR PUBLICATION ..................................... 97 6. SIGNIFICANT JUDGMENTS AND ESTIMATES ...................................................................................... 97 7. CHANGES IN IMPAIRMENT ALLOWANCES FOR ASSETS..................................................................... 98 8. PROPERTY, PLANT AND EQUIPMENT AND INTANGIBLE ASSETS ........................................................ 98 9. RELATED PARTY TRANSACTIONS ...................................................................................................... 98
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4 Financial Report of Wirtualna Polska Holding SA Group for the period of 6 months ended 3 0 June 2026 [ TRANSLATION ONLY ] 10. INVESTMENTS ACCOUNTED FOR USING THE EQUITY METHOD ........................................................ 99 11. FINANCIAL ASSETS ......................................................................................................................... 100 12. EQUITY ........................................................................................................................................... 100 13. LOANS AND BORROWINGS RECEIVED ............................................................................................ 100 14. TRADE AND OTHER PAYABLES ........................................................................................................ 101 15. FINANCE INCOME AND FINANCE COSTS ........................................................................................ 101 16. OTHER GAINS/(LOSSES) ................................................................................................................. 101 17. EXTERNAL SERVICES ...................................................................................................................... 102 18. NOTES TO THE STATEMENT OF CASH FLOWS ................................................................................. 102 19. EVENTS AFTER THE BALANCE SHEET DATE ..................................................................................... 102
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5 Financial Report of Wirtualna Polska Holding SA Group for the period of 6 months ended 3 0 June 2026 [ TRANSLATION ONLY ]
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6 Financial Report of Wirtualna Polska Holding SA Group for the period of 6 months ended 3 0 June 2026 [ TRANSLATION ONLY ] MANAGEMENT’S REPORT ON THE ACTIVITIES OF WIRTUALNA POLSKA GROUP FOR THE PERIOD OF 6 MONTHS ENDING 30 JUNE 2026 Management’s report on the activities of Wirtualna Polska Holding Group for the period of 6 months ending 30 June 2026
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7 Financial Report of Wirtualna Polska Holding SA Group for the period of 6 months ended 3 0 June 2026 [ TRANSLATION ONLY ] 1. DISCUSSION ON THE OPERATING RESULTS AND THE FINANCIAL SITUATION OF WIRTUALNA POLSKA HOLDING CAPITAL GROUP The financial data for the period of 3 and 6 months ended 30 June 2026 and 2025 have not been audited by an independent auditor. The information presented in the table below should be read in conjunction with the consolidated financial statements for the year 2025, which were audited by an independent auditor. SELECTED CONSOLIDATED FINANCIAL RESULTS FOR THE PERIOD OF 3 AND 6 MONTHS ENDED 30 JUNE 2026 The table below presents the key items of the statement of profit or loss for the three -month periods ended 30 June 2026 and 2025. PLN’000 Three months ended 30 June 2026 Three months ended 30 June 2025 Change Change % Segments total Sales 579 375 540 815 38 560 7.1% Cash sales 575 674 535 414 40 260 7.5% Adjusted EBITDA 103 442 121 874 (18 432) (15.1%) EBITDA 78 112 88 061 (9 949) (11.3%) Amortization and depreciation (71 424) (61 911) (9 513) (15.4%) Operating profit 6 688 26 150 (19 462) (74.4%) Result on financial activities 244 (29 263) 29 507 100.8% Profit/loss before tax 6 932 (3 113) 10 045 322.7% Net profit/loss attributable to equity holders of the parent company 62 617 (11 074) 73 691 665.4% Net profit/loss 65 659 (9 256) 74 915 809.4% Segment Travel Sales 335 542 296 568 38 974 13.1% Cash sales 335 529 296 568 38 961 13.1% Adjusted EBITDA 44 017 54 461 (10 444) (19.2%) Segment Advertising and subscription Sales 177 571 172 487 5 084 2.9% Cash sales 173 905 167 169 6 736 4.0% Adjusted EBITDA 49 303 57 718 (8 415) (14.6%) Segment Consumer finance Sales 55 325 60 409 (5 084) (8.4%) Cash sales 55 320 60 348 (5 028) (8.3%) Adjusted EBITDA 8 359 7 259 1 100 15.2% Segment Other Sales 14 012 14 380 (368) (2.6%) Cash sales 13 997 14 355 (358) (2.5%) Adjusted EBITDA 1 763 2 436 (673) (27.6%)
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8 Financial Report of Wirtualna Polska Holding SA Group for the period of 6 months ended 3 0 June 2026 [ TRANSLATION ONLY ] COMPARABILITY OF RESULTS IN THE SECOND QUARTER OF 2026: Acquisition of Invia Group: On 24 April 2025, the Group completed the acquisition of Invia Group, one of the largest travel groups operating in Central Europe and the German-speaking DACH region. Invia operates, among others, in Germany, Austria, Switzerland, the Czech Republic, Slov akia, Hungary and Poland. At the same time, at the end of May 2026, the Group completed the sale of Invia Flights Germany GmbH. To ensure comparability of the data, we present pro forma figures for the second quarter of 2025 as if Invia Group’s results had been consolidated from the beginning of 2025. Furthermore, due to disposal of Invia Flights Germany GmbH in May 2026, a corresponding pro forma adjustment was made to revenue and adjusted EBITDA for the second quarter of 2025. (PLN million) 2Q 2026 PF 2Q 2025 PF Change % Revenue 564.6 563.7 0% Cash sales 560.9 558.3 0% Advertising & subscriptions 173.9 167.2 4% Travel 320.8 319.5 0% Consumer finance 55.3 60.3 (8%) Other 14.0 14.4 (2%) Consolidation eliminations (3.1) (3.0) Adjusted EBITDA 104.7 127.9 (18%) Advertising & subscriptions 49.3 57.7 (15%) Travel 45.3 60.4 (25%) Consumer finance 8.4 7.3 15% Other 1.8 2.4 (28%) Revenue and adjusted EBITDA of the operating segments in 2Q 2026 and 2025 on a pro forma basis (including the results of Invia Group as if it had been acquired on 1 January 2025, while excluding the results of Invia Flights Germany GmbH, the disposal of which was completed at the end of May 2026). In 2Q 2026, the Group’s cash revenue increased by 8% year-on-year, reaching PLN 575.7 million, while adjusted EBITDA decreased by 15% year-on-year to PLN 103.4 million. On a pro forma basis, including the results of Invia Group (acquired in April 2025) as if it had been acquired on 1 January 2025, while excluding the results of Invia Flights Germany GmbH (the disposal transaction of this entity was finalized at the end of May 2026), cash revenue 2Q 2026 remained at a level comparable to 2Q 2025, while adjusted EBITDA decreased by 18% year-on-year. In the Travel segment, the results for 2Q 2026 were partly impacted by the first-time consolidation of Invia Group (acquired in April 2025). On a pro forma basis, segment revenue remained stable year-on- year, while adjusted EBITDA decreased by 25% year -on-year. The key factor affecting the segmen t’s performance in 2Q 2026 was a significant decline in sales of outbound holiday packages to Turkey and Egypt following the escalation of the armed conflict in the Middle East. At the same time, a gradual improvement in sales dynamics was observed from mid-April 2026. In April, sales remained below the level recorded in the corresponding period of the previous year; in May, they stabilised at a level comparable to the previous year; while since June 2026, sales have been growing year-on-year. In the Advertising and Subscription segment, cash revenue increased by 4% year -on-year, primarily driven by improved advertising revenue dynamics (compared to 2025) and the continued growth in subscription revenue. Adjusted EBITDA decreased by 15% year-on-year, mainly as a result of continued investments (including quality journalism, video production – five new programmes were launched in February and March – AI solutions in publishing products, AI solutions in WP Booster advertising products, and the development of WP ADS, WPartner and WKreator), which contributed to an increase in operating expenses year-on-year and consequently lower profitability margins. In the Consumer Finance segment, revenue decreased by 8% year -on-year to PLN 55.3 million. Adjusted EBITDA of the segment increased by 15% year-on-year to PLN 8.4 million.
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9 Financial Report of Wirtualna Polska Holding SA Group for the period of 6 months ended 3 0 June 2026 [ TRANSLATION ONLY ] EBITDA in 2Q 2026 was adjusted by PLN 25. 3 million, primarily for: transaction costs related to M&A activities, including costs associated with the completion of the sale of Fluege.de and the tender offer for the Company’s own shares conducted during the quarter, as well as employee restructuring in the Travel segment. Depreciation and amortization of property, plant and equipment and intangible assets in 2Q 2026 amounted to PLN 71.4 million, representing an increase of PLN 9.5 million compared to the second quarter of 2025, which was attributable, among other factors, to the first -time consolidation of Invia Group’s results from May 2025. The Group estimates that amortization of identified intangible assets recognized as part of the purchase price allocation (PPA) amounts to approximately PLN 17 million per quarter. The net finance result in 2Q 2026 was positive at PLN +0.2 million, compared to PLN -29.3 million in 2Q 2025. In 2Q 2026, finance costs related to interest and commissions amounted to PLN 30.0 million, representing an increase of 4% year -on-year. At the same time, a gain of PLN 27.6 million was recognized in 2Q 2026 on the disposal of the subsidiary, Invia Flights Germany GmbH. Net profit attributable to shareholders of the Parent Company in 2Q 2026 amounted to PLN 62.6 million, compared to PLN -11.1 million in 2Q 2025. Net profit was positively impacted primarily by: (1) the gain on the disposal of the subsidiary, Invia Flights Germany GmbH, of PLN 27.6 million; (2) the recognition of gains resulting from an adjustment to corporate income tax (CIT) overpaid for th e years 2020 –2024 following the application of the IP Box tax relief, amounting to PLN 66.8 million. Cash flows from operating activities in 2Q 2026 amounted to PLN 241.5 million, compared to PLN 166.1 million in the second quarter of 2025, mainly due to a significantly higher change in working capital. Cash flows from investing activities in 2Q 2026 were positive at PLN 162.2 million. Expenditure on the acquisition of intangible assets and property, plant and equipment (CAPEX) in 2Q 2026 amounted to PLN 43.2 million. At the same time, cash proceeds of PLN 193.0 million were recognized from the disposal of the subsidiary, Invia Flights Germany GmbH. Net debt as of the end of June 2026, calculated in accordance with IFRS 16, amounted to PLN 1,282. 6 million, compared to PLN 1,426.4 million as of the end of March 2026. The net debt to adjusted EBITDA pro forma ratio as of the end of June 2026 amounted to 2.3x, excluding EBITDA generated by Invia Flights Germany GmbH, which was disposed of in May 2026. Sale of Invia Flights Germany: On 29 May 2026, the Group completed the sale of shares in its German subsidiary, Invia Flights Germany GmbH, the owner of the Fluege.de platform. Following a reassessment of the presentation of this business in accordance with the criteria set out in IFRS 5 Non-current Assets Held for Sale and Discontinued Operations, it was concluded that Invia Flights does not represent a separate major line of business of the Group and therefore does not meet the criteria for classification as a discontinued operation. Consequently, the results of Invia Flights for the period up to the date of disposal have been presented as part of continuing operations in the financial statements for the first half of 2026, including the second quarter of 2026. The comparative data for the first quarter of 2026, in which the results of Invia Flights had previously been presented as discontinued operations, have been restated accordingly. This change relates solely to presentation and has no impact on the Group’s total net profit for the respective periods.
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10 Financial Report of Wirtualna Polska Holding SA Group for the period of 6 months ended 3 0 June 2026 [ TRANSLATION ONLY ] Outlook for 3Q 2026: Advertising & Subscriptions segment: In 3Q 2026, the Group expects revenue dynamics in the Advertising & Subscriptions segment to follow trends similar to those seen in H1 2026. At the same time, 3Q will continue to reflect the impact of ongoing investments - including quality journalism, video production (5 new shows launched in February and March), AI in the publishing product, AI in the WP Booster advertising products, and the development of WP ADS, WPartner, and WKreator - which is driving a year-on-year increase in operating costs and translating into lower margins. At the same time, the Group does not expect any significant further increase in its cost base in 2027, which should help limit the margin pressure resulting from the investments currently being made. Travel segment: Results in the Travel segment in 3Q 2026 continue to be affected by the fallout from the geopolitical situation in the Middle East, which weighed on sales of travel packages in the first half of the year - particularly to Turkey and Egypt. This resulted in fewer bookings and a higher number of cancellations, with the strongest impact recorded in March 2026. Since mid-April 2026, however, a gradual recovery in sales momentum has been observed. In April, sales value remained below the level of the same period last year, while in May it stabilized at a level close to last year's. Since June 2026, sales have been running above the levels achieved in the corresponding months of 2025, with visible year-on-year growth recorded in July and August. This recovery has been supported in particular by customers' growing tendency to book closer to their departure date, incl uding last-minute bookings. At the same time, this trend is contributing to increased competitive pressure, particularly in the DACH market. The Management Board continues to monitor the situation closely and is assessing its potential impact on the Company's operations and results. As of the date of this report, the Management Board expects the segment's revenue to grow by a percentage in the teens year-on-year in 3Q 2026. At the same time, the Management Board expects high single -digit growth in pro forma adjusted EBITDA in outbound travel, alongside a decline in pro forma adjusted EBITDA in domestic travel, which combined should translate into low single -digit growth in pro forma adjusted EBITDA for the Travel segment in 3Q 2026. Pro forma = including the results of Invia Group for the comparable period, but excluding the results of Invia Flights, which was sold in May 2026. Monthly Total Transaction Value (TTV) of the international holiday packages business -25% -15% -5% 5% 15% 25% 35% - 0.20 0.40 0.60 0.80 1.00 1.20 1.40 1.60 January February March April May June July 2025 2026 y/y dynamics + 13 % y/y - 8 % y/y +22% y/y
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11 Financial Report of Wirtualna Polska Holding SA Group for the period of 6 months ended 3 0 June 2026 [ TRANSLATION ONLY ] The table below presents the key items of the statement of profit or loss for the six -month periods ended 30 June 2026 and 2025. PLN'000 Six months ended 30 June 2026 Six months ended 30 June 2025 Change Change % Segments total Sales 1 163 861 912 768 251 093 27.5% Cash sales 1 156 404 903 568 252 836 28.0% Adjusted EBITDA 202 640 207 706 (5 066) (2.4%) EBITDA 168 718 167 374 1 344 0.8% Amortization and depreciation (142 957) (106 486) (36 471) (34.2%) Operating profit 25 761 60 888 (35 127) (57.7%) Result on financial activities (33 454) (40 800) 7 346 18.0% Profit/loss before tax (7 693) 20 088 (27 781) (138.3%) Net profit/loss attributable to equity holders of the parent company 45 747 (1 064) 46 811 4 399.5% Net profit/loss 51 926 3 161 48 765 1 542.7% Segment Travel Sales 685 407 444 326 241 081 54.3% Cash sales 685 393 444 323 241 070 54.3% Adjusted EBITDA 87 261 77 854 9 407 12.1% Segment Advertising and subscription Sales 343 887 331 202 12 685 3.8% Cash sales 336 469 322 132 14 337 4.5% Adjusted EBITDA 94 985 111 026 (16 041) (14.4%) Segment Consumer finance Sales 112 292 116 611 (4 319) (3.7%) Cash sales 112 286 116 519 (4 233) (3.6%) Adjusted EBITDA 17 180 15 623 1 557 10.0% Segment Other Sales 28 452 26 519 1 933 7.3% Cash sales 28 432 26 481 1 951 7.4% Adjusted EBITDA 3 214 3 203 11 0.3% COMPARABILITY OF RESULTS IN THE FIRST HALF OF 2026: Acquisition of Invia Group: On 24 April 2025, the Group completed the acquisition of Invia Group, one of the largest travel groups operating in Central Europe and the German-speaking DACH region. Invia operates, among others, in Germany, Austria, Switzerland, the Czech Republic, Slov akia, Hungary and Poland. At the same time, at the end of May 2026, the Group completed the sale of Invia Flights Germany GmbH. To ensure comparability of data, we present pro forma data for the first half of 2025 as if the results of Invia Group had been consolidated from the beginning of 2025. At the same time, due to disposal of Invia Flights Germany GmbH in May 2026, a corresponding pro forma adjustment was made to revenue and adjusted EBITDA for the first half of 2025.
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12 Financial Report of Wirtualna Polska Holding SA Group for the period of 6 months ended 3 0 June 2026 [ TRANSLATION ONLY ] (PLN million) 1H 2026 PF 1H 2025 PF Change % Revenue 1 119.9 1 117.8 0% Cash sales 1 112.4 1 108.6 0% Advertising & subscriptions 336.5 322.1 4% Travel 641.4 649.3 (1%) Consumer finance 112.3 116.5 (4%) Other 28.4 26.5 7% Consolidation eliminations (6.2) (5.9) Adjusted EBITDA 203.1 253.9 (20%) Advertising & subscriptions 95.0 111.0 (14%) Travel 87.7 124.0 (29%) Consumer finance 17.2 15.6 10% Other 3.2 3.2 0% Revenue and adjusted EBITDA of operating segments in the first half of 2026 and 2025 on a pro forma basis (including the results of Invia Group as if it had been acquired on 1 January 2025, while excluding the results of Invia Flights Germany GmbH, the disposal of which was finalized at the end of May 2026). In 1H 2026, the Group’s cash revenue increased by 2 8% year-on-year, reaching PLN 1,1 56.4 million, while adjusted EBITDA decreased by 2% year-on-year to PLN 202.6 million. On a pro forma basis, including the results of Invia Group (acquired in April 2025) as if it had been acquired on 1 January 2025, while excluding the results of Invia Flights Germany GmbH (the disposal transaction of this entity was finalized at the end of May 2026), cash revenue in the first half of 2026 remained at a level comparable to the first half of 2025, while adjusted EBITDA decreased by 20% year-on-year. EBITDA in 1H 2026 was adjusted by PLN 33. 9 million, primarily for: transaction costs related to M&A activities, including costs associated with the completion of the sale of Fluege.de, costs related to the tender offer for the Company’s own shares conducted during the quarter, and employment restructuring costs in the Travel segment. Depreciation and amortization of property, plant and equipment and intangible assets in 1H 2026 amounted to PLN 143.0 million, representing an increase of PLN 36.5 million compared to the first half of 2025. On a pro forma basis, including depreciation and amortization of Invia Group also in the comparative period, depreciation and amortization increased by PLN 8.8 million year-on-year. The net finance result in 1H 2026 was negative at PLN -33.5 million, compared to PLN -40.8 million in 1H 2025. In 1H 2026, finance costs related to interest and commissions amounted to PLN 58.2 million, representing an increase of 34% year-on-year, which was associated with higher indebtedness resulting from the financing of the Invia Group acquisition completed in Apri l 2025. At the same time, a gain of PLN 27.6 million was recognized in 1H 2026 on the disposal of the subsidiary, Invia Flights Germany GmbH. Net profit attributable to shareholders of the Parent Company in 1H 2026 amounted to PLN 45.7 million, compared to PLN -1.0 million in 1H 2025. Net profit was positively impacted primarily by: (1) the gain of PLN 27.6 million on the disposal of the subsidiary, Invia Flights Germany GmbH; (2) the recognition of gains of PLN 66.8 million resulting from an adjustment to corporate income tax (CIT) overpaid for the years 2020 – 2024 following the application of the IP Box tax relief. Cash flows from operating activities in 1H 2026 amounted to PLN 387.0 million, compared to PLN 297.0 million in 1H 2025. Cash flows from investing activities in 1H 2026 amounted to PLN +103.1 million, reflecting proceeds of PLN 193.0 million from the disposal of the subsidiary, Invia Flights Germany GmbH, in May 2026, compared to PLN -988.9 million in 1H 2025, when expenditure related to the acquisition of Invia Group was recognized (the transaction was completed in April 2025).
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13 Financial Report of Wirtualna Polska Holding SA Group for the period of 6 months ended 3 0 June 2026 [ TRANSLATION ONLY ] Net debt as of the end of June 2026, calculated in accordance with IFRS 16, amounted to PLN 1,282. 6 million, compared to PLN 1,482.4 million as of the end of December 2025. The net debt to adjusted EBITDA pro forma ratio as of the end of June 2026 amounted to 2.3x, excluding EBITDA generated by Invia Flights Germany GmbH, which was disposed of in May 2026. Sale of Invia Flights Germany: On 29 May 2026, the Group completed the sale of shares in its German subsidiary, Invia Flights Germany GmbH, the owner of the Fluege.de platform. Following a reassessment of the presentation of this business in accordance with the criteria set out in IFRS 5 Non-current Assets Held for Sale and Discontinued Operations, it was concluded that Invia Flights does not represent a separate major line of business of the Group and therefore does not meet the criteria for classification as a discontinued operation. Consequently, the results of Invia Flights for the period up to the date of disposal have been presented as part of continuing operations in the financial statements for the first half of 2026, including the second quarter of 2026. The comparative data for the first quarter of 2026, in which the results of Invia Flights had previously been presented as discontinued operations, have been restated accordingly. This change relates solely to presentation and has no impact on the Group’s total net profit for the respective periods ENTITIES CONSOLIDATED IN 2026 AND 2025 The Group’s consolidated results for the first half of 2026 and 2025 included the results of The following subsidiaries: No. Name of subsidiary % of shares Period covered by consolidation 30 June 2026 30 June 2025 1 Wirtualna Polska Media SA 100% full period full period 2 Totalmoney.pl Sp. z o.o. 100% full period full period 3 Wakacje.pl SA 100% full period full period 4 Extradom.pl Sp. z o.o. 100% full period full period 5 Superauto.pl Sp. z o.o. 51% full period full period 6 RD Plus Sp. z o. o. 100% full period full period 7 WP Naturalnie Solar 1 Sp. z o.o. 100% full period full period 8 Grupa Audioteka 100% full period full period 9 Grupa Szallas 100% full period full period 10 WP Naturalnie Solar 2 Sp. z o.o. 100% full period full period 11 Wirtualnemedia.pl Sp. z o.o. 100% full period full period 12 GO.pl Sp. z o.o. 100% full period full period 13 WP Consumer Finance Sp. z o.o. 100% full period since 16 January 2025 14 WP Travel SA 100% full period since 16 January 2025 15 Invia Group 100% full period since 24 April 2025 SUMMARY OF THE RESULTS OF THE MAIN BUSINESS AREAS OF WIRTUALNA POLSKA HOLDING Below we present a summary of the financial situation and current trends affecting the main operating segments of Wirtualna Polska Holding SA Capital Group. TRAVEL In the first half of 2026, segment revenue increased by 54% year-on-year to PLN 685.4 million, while adjusted EBITDA increased by 12% year-on-year to PLN 87. 3 million, primarily due to the first -time recognition of the results of Invia Group (acquired in April 2025). In the second quarter of 2026 alone, revenue increased by 13% year-on-year, while adjusted EBITDA decreased by 19% year-on-year. On a pro forma basis, including the results of Invia Group in the comparative period as if these entities had been acquired on 1 January 2025, while excluding the results of Invia Flights Germany GmbH, which was disposed of in May 2026, revenue of the Travel segment in the first half of 2026 decreased by 1% year-on-year,
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14 Financial Report of Wirtualna Polska Holding SA Group for the period of 6 months ended 3 0 June 2026 [ TRANSLATION ONLY ] while adjusted EBITDA declined by 29% year-on-year. This was related to the negative impact of the escalation of the armed conflict in the Middle East on sales of outbound holiday packages since the end of February 2026. In the second quarter of 2026, on a pro forma basis, segment revenue remained at a level comparable year - on-year, while adjusted EBITDA decreased by 25% year-on-year. The results of the Travel segment are characterized by high seasonality, with the highest share of revenue and EBITDA typically reported in the third quarter. International Travel (Invia Group, Wakacje.pl): In December 2024, the Group announced its intention to acquire 100% of the shares in Invia Group, a travel group operating in German-speaking countries, as well as in the Czech Republic, Slovakia, Hungary and Poland. The transaction was finalized on 24 Apr il 2025, and the results of Invia Group were consolidated for the first time starting from May 2025. This acquisition significantly increased the scale of the Travel segment and strengthened the Group’s market position in the region. Between January and February 2026, revenue of the International Travel business area increased at a high single-digit year-on-year rate. At the same time, in March 2026, the Group began to observe a negative impact from the geopolitical conflict on booking volumes, which resulted in an approximately 30% year -on-year decline in the business area’s revenue in March 2026 and led this business area to generate an EBITDA loss for that month. Subsequently, a gradual recovery in sales was observed from mid-April; in May, sales were already at a level comparable year-on-year, while in June 2026 they exceeded the level recorded in June 2025. At the same time, EBITDA of the International Travel business area remained below the levels recorded in the corresponding periods of 2025. In subsequent periods, the segment’s performance may continue to be affected by the geopolitical situation related to key travel destinations, particularly Turkiye and Egypt, which account for a significant portion of travel agency sales in the Polish, Czech and German markets. At the same time, sales of holiday packages to Turkey and Egypt in June and July 2026 reached the levels recorded in 2025, which may indicat e that the situation is stabilizing. Further developments and their impact on consumer behaviour and customers ’ purchasing decisions remain difficult to predict. 28% 20% 13% 12% 27% Destinations of package holidays sold by tour operators Turkiye Egypt Greece Spain Other Source: Wirtualna Polska Holding, Wakacje.pl, Travelplanet, Invia CEE, Ab-in-den-Urlaub
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15 Financial Report of Wirtualna Polska Holding SA Group for the period of 6 months ended 3 0 June 2026 [ TRANSLATION ONLY ] In the CEE region: At the beginning of 2026, supported by continued strong demand for outbound travel in the Central and Eastern European region, revenue of this business area grew at a year-on-year rate in the teens. However, in March 2026, this trend reversed due to the negative impact of the geopolitical conflict on the number of holiday package bookings, particularly to Turkey and Egypt, which translated into a year -on-year decline in revenue. Subsequently, a gradual recovery in sales was observed from mid-April; in May, sales were already at a level comparable year-on-year, while in June 2026 they exceeded the level recorded in June 2025. In July and August 2026, low double-digit year-on-year growth is already visible. In Poland, according to data published by the Travel Guarantee Fund (Turystyczny Fundusz Gwarancyjny), the volume of package tour bookings sold by travel agencies in the first half of 2026 was only 1% higher compared to the first half of 2025. Following in creases recorded in January and February 2026 of 7% and 18% year -on- year, respectively, the number of bookings declined by 20% year-on-year in March. This decline was related to the deterioration of the geopolitical situation in the Middle East, which weakened demand for travel to popular destinations in the region, particularly Turkey and Egypt. Subsequently, sales levels gradually recovered from April: sales in April and May were lower by 3% and 2% year-on-year, respectively, while in June sales increased by 6% year -on-year. Despite the improvement towards the end of the first half of the year, sales dynamics remained below the levels observed in previous years and in the first two months of 2026. Flat sales in the first half of 2026 were not driven by a supply -side adjustment, but rather by a shift in the timing of demand - as confirmed by the sales data for July and August 2026. Sales were also affected by tour operators' pricing policies, as high jet fuel prices led them to maintain higher package holiday prices, as well as by the limited availability of last-minute offers. In the long term, the Management Board identifies The following as the key growth drivers for the business: (1) further growth in the number of package tours sold in the CEE region, which remains associated with a relatively low number of trips sold per capita compared to Western European markets; (2) the planned further increase in market share; and (3) the growing popularity of the high-margin fully online sales channel. In addition, the acquisition of Invia Group and cooperation between the Group’s brands in the region (Wakacje.pl, Invia and Travelplanet) will support the Group’s growth in the CEE region. The post -merger integration process is already delivering tangible benefits in the form of significant improvements in management efficiency and growth resulting from the initiatives implemented, particularly in the area of marketing. The geopolitical situation in the Middle East remains the most significant risk factor for the business area, particularly in relation to Turkey and Egypt, which are estimated to jointly account for approximately 40 –50% of sales in the Group’s key markets. Consequently, any deterioration of the situation affecting these destinations could impact demand, the pace of bookings and the sales mix.
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16 Financial Report of Wirtualna Polska Holding SA Group for the period of 6 months ended 3 0 June 2026 [ TRANSLATION ONLY ] DACH region: In the first half of 2026, market conditions in the DACH region remained volatile. The beginning of the year was affected by the shift of part of the first -minute demand to earlier months, i.e. November and December 2025, which resulted in a relatively del ayed start to sales in January. However, an improvement in booking dynamics and a return to a growth path became visible at the end of January and in February. In March 2026, consumer sentiment deteriorated following the escalation of geopolitical tensions surrounding Iran and increased uncertainty regarding the situation in the Middle East. These factors resulted in a decline in the number of new bookings, an increase in cancellations and greater caution among customers when making purchasing decisions. The segment’s performance was most significantly affected by the DACH market’s exposure to destinations such as Turkiye and Egypt, which remain among the key travel destinations for customers from this region. Weaker demand continued in April, with a marked improvement occurring only in the second half of May and in June, when the DACH package holiday market recovered and sales exceeded the levels recorded in the corresponding period of the previous year. However, the recovery in demand towards the end of the second quarter was accompanied by increased competitive pressure, which resulted in higher traffic acquisition costs and more extensive discounting across the market. The Group continued its efforts to improve traffic acquisition efficiency, optimize its offering and strengthen the position of the online channel. In subsequent periods, the key factors affecting the segment’s performance will continue to include the pace of recovery in consumer demand, stabilization of the geopolitical situation in the Middle East, the level of competitive pressure affecting the efficiency of marketing expenditure, as well as the continued shift of holiday package sales to online channels, which remains a favourable trend for the Ab - in-den-urlaub platform. Domestic travel (Szallas Group): Wirtualna Polska Group is a significant player in the domestic travel market in the Central and Eastern European region through Szallas Group, which was acquired in 2022. Szallas Group owns accommodation booking platforms in Hungary, the Czech Republic, Romania, Poland and Croatia, strengthening the Group’s position in this segment. In addition, in September 2024, Szallas Group completed the acquisition of Creative Eye, the owner of the Romanian travel accommodation booking platform Litoralul Romanesc. In the first half of 2026, the Polish company Nocowanie continued the gradual transformation of its business model from a subscription-based model to a transaction-based model, which adversely affects the company’s profitability in the short term. The Group plans to complete the transformation of this business by the end of 2026. 0 50 100 150 200 250 300 350 400 I II III IV V VI VII VIII IX X XI XII Poland: Market volume of package tours bookings of travel agencies (with airfare, in thousand) 2019 2025 2026 Source: Tourist Guarantee Fund; package travel and related travel services excl. Poland and neighboring countries
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17 Financial Report of Wirtualna Polska Holding SA Group for the period of 6 months ended 3 0 June 2026 [ TRANSLATION ONLY ] In the first half of 2026, Szallas Group focused on significantly improving the quality and efficiency of its technology platform, restructuring employment, strengthening its local brands and improving marketing efficiency. In the first and second quarters of 2026, EBITDA in the domestic travel business area was negative, reflecting the typical seasonality of this business, under which losses are recognized in the first, second and fourth quarters, while a high level of EBITD A is recognized in the third quarter, as revenue is recognized when the accommodation service is provided. According to Eurostat, at the beginning of 2026, the domestic travel market in the CEE region, measured by the volume of overnight stays, remained several percent above the level recorded in 2025. In Poland, Hungary and the Czech Republic, overnight stay v olumes increased at a mid-single-digit rate, with Romania being the exception, recording a decline that may have been related to the deterioration of the economic environment in the country. ADVERTISING AND SUBSCRIPTIONS In the Advertising and Subscription segment, cash revenue increased by 4% year-on-year both in the first half of 2026 and in the second quarter of 2026 alone, primarily driven by improved advertising revenue dynamics (compared to 2025) and the continued growth in subscription revenue. Quarterly YoY growth dynamics* of Advertising and Subscriptions revenue * Revenue growth dynamics were adjusted for a change in revenue recognition under one B2B contract in Audioteka Group Adjusted EBITDA decreased by 15% year-on-year in the second quarter of 2026, mainly as a result of continued investments (including quality journalism, video production – five new programmes were launched in February and March – AI solutions in publishing products, AI solutions in WP Booster advertising products, and the development of WP ADS, WPartner and WKreator), which contributed to an increase in operating expenses year-on-year and consequently lower profitability margins. At the same time, the Group does not expect any significant further increase in its cost base in 2027, which should help limit the margin pressure resulting from the investments currently being made. In the coming quarters, the Group expects the share of online advertising in the total advertising market to continue increasing. At the same time, the Group observes a significant impact of potential increases or decreases in uncertainty in the economic and political environment on the advertising market. The advertising +4% +3% -2% -0% +2% +3% +7% +6% +1% +0% -3% -2% +5% +4% -6% -4% -2% +0% +2% +4% +6% +8% Q1 2023 Q2 2023 Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026 Q2 2026
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18 Financial Report of Wirtualna Polska Holding SA Group for the period of 6 months ended 3 0 June 2026 [ TRANSLATION ONLY ] market is highly dependent on the macroeconomic environment, measured, among other factors, by GDP growth, as well as on consumer sentiment. CONSUMER FINANCE In the first half of 2026, segment revenue decreased by 4% year-on-year to PLN 112.3 million, while adjusted EBITDA increased by 10% year-on-year to PLN 17.2 million. In the second quarter of 2026, revenue decreased by 8% year- on-year, while adjusted EBITDA increased by 15% year-on-year. Superauto In the first half of 2026, 350 thousand new passenger cars and light commercial vehicles (up to 3.5 tonnes) were registered in Poland, representing an increase of 10% year-on-year. Totalmoney According to data published by the Credit Information Bureau (BIK), total loan sales in Poland in the first half of 2026 were 31% higher year-on-year than in the first half of 2025. Cash loan sales on the Polish market increased by 16% year-on-year in the first half of 2026. The cash loan market affects Totalmoney’s operations, with cash loan intermediation representing the company’s largest source of revenue. At the same time, the company observes increasing competition in the financial product intermediation market. 450 500 550 600 650 700 750 I IV VII X I IV VII X I IV VII X I IV VII X I IV VII X I IV VII X I IV VII X I IV VII 2019 2020 2021 2022 2023 2024 2025 2026 First registration of cars LTM (in thousand) Źródło: PZPM 0 2 4 6 8 10 12 14 I II III IV V VI VII VIII IX X XI XII Cash loans sales in Poland (bn PLN) 2019 2025 2026 Źródło: BIK
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19 Financial Report of Wirtualna Polska Holding SA Group for the period of 6 months ended 3 0 June 2026 [ TRANSLATION ONLY ] FINANCIAL POSITION OF THE CAPITAL GROUP The table below presents the consolidated statement of financial position of the Group as at 30 June 2026 and 31 December 2025. PLN'000 As of 30 June 2026 As of 31 December 2025 (adjusted) Change Change % Non-current assets 2 612 661 2 607 943 4 718 0,2% Current assets 1 416 372 1 223 298 193 074 15,8% Long-term liabilities 1 990 838 2 013 037 (22 200) (1,1%) Short-term liabilities 1 292 052 881 840 410 212 46,5% Equity attributable to equity holders of the Parent Company 690 606 881 103 (190 496) (21,6%) Share capital 1 489 1 489 - (0,0%) Non-controlling interests 55 538 55 261 277 0,5% Changes in individual balance sheet items are discussed below. NON-CURRENT ASSETS The table presents the structure and changes in non-current assets by detailed balance sheet categories. PLN'000 As of 30 June 2026 Structure 2026 As of 31 December 2025 (adjusted) Structure 2025 Change Change % Property, plant and equipment 146 162 5,6% 155 169 5,9% (9 007) (5,8%) Goodwill 1 094 951 41,9% 1 081 283 41,5% 13 668 1,3% Investments accounted for using the equity method 79 088 3,0% 87 540 3,4% (8 452) (9,7%) Other intangible assets 1 190 801 45,6% 1 207 138 46,3% (16 337) (1,4%) Non-current programming assets 30 905 1,2% 29 087 1,1% 1 818 6,2% Long-term receivables 2 736 0,1% 4 734 0,2% (1 998) (42,2%) Other financial assets 27 973 1,1% 28 215 1,1% (242) (0,9%) Deferred tax assets 40 046 1,5% 14 775 0,6% 25 271 171,0% Non-current assets 2 612 662 100,0% 2 607 941 100,0% 4 721 0,2%
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20 Financial Report of Wirtualna Polska Holding SA Group for the period of 6 months ended 3 0 June 2026 [ TRANSLATION ONLY ] Goodwill reported in the Capital Group’s consolidated financial statements as of 30 June 2026 increased by PLN 13.7 million as a result of the translation of the gross carrying amount of goodwill denominated in foreign currencies. During the period under review, property, plant and equipment decreased by PLN 9.0 million. This change was primarily attributable to depreciation of property, plant and equipment of PLN 23.0 million and modifications to lease agreements, which reduced the carrying amount of right-of-use assets by PLN 4.4 million. The carrying amount of property, plant and equipment disposed of or written off amounted to PLN 0.5 million. The decrease was partly offset by additions to property, plant and equipment of PLN 13. 2 million and the recognition of new and remeasurement of existing right-of-use assets, which increased their carrying amount by PLN 5.4 million. Other intangible assets decreased by PLN 16.3 million. This change was primarily attributable to amortization of intangible assets of PLN 120.0 million, which exceeded additions to intangible assets of PLN 90.5 million. The additions related mainly to capitalized development projects and the acquisition of new systems supporting the Group’s operating activities. In addition, the Group recognised the effect of translating intangible assets initially recognised in foreign currencies. Investments accounted for using the equity method decreased by PLN 8.5 million, corresponding to the Capital Group’s share of losses generated by associates. The total carrying amount of program assets increased by PLN 2.1 million in the current period, comprising an increase of PLN 1.8 million in the non-current portion and PLN 0.3 million in the current portion. This resulted primarily from additions of PLN 6.3 million, compared to amortization of PLN 4.2 million. Non-current receivables decreased by PLN 2.0 million in the current period, primarily due to the refund of a deposit following the termination of an office lease agreement. As of 30 June 2026, the Group’s other financial assets mainly comprised shares in Digitics S.A., measured by the Group at PLN 0.8 million, shares in Teroplan S.A. of PLN 10.4 million and shares in Moliera2 S.A. of PLN 1.3 million. Other financial assets also include, among other items, finance lease receivables and deposits paid. The PLN 25.3 million increase in the deferred tax asset as of 30 June 2026 compared to 31 December 2025 resulted from the recognition of an additional asset in respect of unused tax losses. CURRENT ASSETS The table below presents the structure and changes in current assets by detailed balance sheet categories. PLN'000 As of 30 June 2026 Structure 2026 As of 31 December 2025 Structure 2025 Change Change % Cash trade receivables 513 046 36,2% 416 204 34,0% 96 842 23,3% Barter receivables 4 299 0,3% 7 608 0,6% (3 309) (43,5%) Contract assets 36 215 2,6% 25 654 2,1% 10 561 41,2% State receivables 12 938 0,9% 15 554 1,3% (2 616) (16,8%) Income tax receivables 70 628 5,0% 8 060 0,7% 62 568 776,3% Other short-term financial assets 14 111 1,0% 15 783 1,3% (1 672) (10,6%) Prepayments 15 772 1,1% 10 641 0,9% 5 131 48,2% Advance payments provided 114 731 8,1% 66 896 5,5% 47 835 71,5% Inventory 21 120 1,5% 31 511 2,6% (10 391) (33,0%) Other current assets 9 283 0,7% 13 246 1,1% (3 963) (29,9%) Cash and cash equivalents 604 228 42,7% 400 543 32,7% 203 685 50,9% Non-current assets held for sale - 0,0% 211 598 17,3% (211 598) (100,0%) Current assets 1 416 372 100,0% 1 223 298 100,0% 193 074 15,8% The increase in trade receivables resulted primarily from higher receivables among companies in the Travel segment due to the typical seasonality of their operations. At the beginning of the travel season, these companies recognize receivables relating to holiday packages purchased by customers.
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21 Financial Report of Wirtualna Polska Holding SA Group for the period of 6 months ended 3 0 June 2026 [ TRANSLATION ONLY ] At the same time, the increase was slightly offset by a decrease in receivables in the Advertising and Subscription segment, which generates its highest revenue in the final quarter of the year. Contract assets relate primarily to estimated receivables arising from annual settlements with travel service providers for which companies operating in the Travel segment act as sales agents. The receivables are accrued during the year and are generally settled at or shortly after the end of the financial year. Contract assets increased by PLN 10.5 million. The PLN 62.6 million increase in current income tax receivables resulted primarily from the recognition of a receivable of PLN 66.8 million relating to the adjustment of corporate income tax overpaid for the years 2020–2024. The adjustment resulted from identifying a part of the operations of the subsidiary Wirtualna Polska Media SA related to the creation and development of intellectual property – in particular, proprietary IT systems used to operate the Company’s websites – that qualifies for preferential taxation under the IP Box tax relief. The PLN 47.8 million increase in advances paid resulted primarily from the balance sheet model applied by Creative Eye, a company operating in the Travel segment, which pays advances before the season for hotel reservations for the upcoming season. The PLN 5.1 million increase in prepaid expenses resulted primarily from an increase in such balances at Szallas Group, which operates in the Travel segment, and is directly related to the company’s business model. This balance generally increases before the travel season and is settled by the end of the year. The PLN 10.4 million decrease in inventories resulted from a change in Superauto.pl’s sales model, involving a primary focus on agency sales. A detailed analysis of changes in cash is presented in the section of the report relating to the statement of cash flows. As of 31 December 2025, assets relating to Invia Flights Germany GmbH and its subsidiaries were presented as held for sale after the Parent Company became aware that, on 3 December 2025, its subsidiary Invia Flights s.r.o. had entered into a conditional tr ansaction for the sale of 100% of the shares in IFG to Tongcheng International Investment Singapore Pte. Ltd. The transaction was completed on 29 May 2026 and, consequently, as of 30 June 2026 the Group held no assets classified as held for sale. NON-CURRENT LIABILITIES The following table presents the structure and changes in non-current liabilities by detailed balance sheet categories. PLN'000 As of 30 June 2026 Structure 2026 As of 31 December 2025 (adjusted) Structure 2025 Change Change % Bank loans and other loans 1 680 100 84,4% 1 712 989 85,1% (32 889) (1,9%) Leasing liabilities due to the right of use the assets 54 992 2,8% 65 242 3,2% (10 250) (15,7%) Liabilities in respect of purchase of property, plant and equipment and intangible assets 16 896 0,8% 16 391 0,8% 505 3,1% Deferred tax liabilities 223 325 11,2% 204 900 10,2% 18 425 9,0% Other 15 524 0,8% 13 515 0,7% 2 009 14,9% Long-term liabilities 1 990 838 100,0% 2 013 037 100,0% (22 199) (1,1%) As of 30 June 2026, the aggregate carrying amount of the current and non-current portions of loans and borrowings increased by PLN 21 million, primarily due to a loan of PLN 225.9 million drawn by Wirtualna Polska Holding to finance the acquisition of its own shares. At the same time, the Group used the proceeds from the disposal of Invia Flights Germany GmbH to make an early repayment of PLN 176.2 million of the principal amount of the facility held by Wirtualna Polska Media and repaid PLN 29 million of the principal amount of the PLN-denominated facility in accordance with the repayment schedule. The amount drawn under the revolving credit facility by Superauto.pl also decreased.
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22 Financial Report of Wirtualna Polska Holding SA Group for the period of 6 months ended 3 0 June 2026 [ TRANSLATION ONLY ] Lease liabilities relating to right-of-use assets decreased by PLN 17.1 million in aggregate, primarily as a result of changes in the measurement of certain agreements following the shortening of lease terms or the reduction of leased office space, as well as the settlement of lease agreements. Other non-current liabilities mainly comprise estimated provisions for long-term bonus schemes operated by selected companies and measured based on the extent to which the performance targets specified in the schemes have been achieved and the probability of their achievement.
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23 Financial Report of Wirtualna Polska Holding SA Group for the period of 6 months ended 3 0 June 2026 [ TRANSLATION ONLY ] CURRENT LIABILITIES The table below presents the structure and changes in current liabilities by detailed balance sheet categories. PLN'000 As of 30 June 2026 Structure 2026 As of 31 December 2025 (adjusted) Structure 2025 Change Change % Bank loans and other loans 125 631 9,7% 71 722 8,1% 53 909 75,2% Leasing liabilities due to the right of use the assets 26 148 2,0% 32 979 3,7% (6 831) (20,7%) Cash trade payables 818 032 63,3% 440 690 50,0% 377 342 85,6% Barter trade payables 3 346 0,3% 3 067 0,3% 279 9,1% Dividend payable 38 743 3,0% - 0,0% 38 743 nd Contract and refund liabilities 45 949 3,6% 56 197 6,4% (10 248) (18,2%) Liabilities arising from vouchers 79 200 6,1% 85 042 9,6% (5 842) (6,9%) State liabilities 30 701 2,4% 32 778 3,7% (2 077) (6,3%) Employee benefit liabilities 49 102 3,8% 43 048 4,9% 6 054 14,1% Liabilities related to business combinations (other than earn-out) 13 246 1,0% 13 246 1,5% - 0,0% Liabilities in respect of purchase of property, plant and equipment, intangible assets and programming assets 7 064 0,5% 13 926 1,6% (6 862) (49,3%) Other short-term payables 36 142 2,8% 14 761 1,7% 21 381 144,8% Other provisions 4 154 0,3% 4 207 0,5% (53) (1,3%) Current income tax liabilities 14 594 1,1% 34 830 3,9% (20 236) (58,1%) Liabilities held for sale - 0,0% 35 346 4,0% (35 346) (100,0%) Short-term liabilities 1 292 052 100,0% 881 840 100,0% 410 212 46,5% The increase in cash trade payables resulted primarily from the nature of the operations of the companies in the Travel segment (Invia, Wakacje and Szallas) and the seasonality of their activities. Before the peak season, these companies collect advances and prepayments from customers for services whose performance and settlement dates may be significantly later than the payment date. During the summer months, as travel services are provided by travel agencies, a significant portion of these liabilities is settled. The PLN 21.4 million increase in other current liabilities was also related to the nature of the operations of companies within the Domestic Travel CGU and the seasonality of their activities. As of 31 December 2025, liabilities relating to Invia Flights Germany GmbH and its subsidiaries were presented as held for sale after the Parent Company became aware that, on 3 December 2025, its subsidiary Invia Flights s.r.o. had entered into a conditional transaction for the sale of 100% of the shares in IFG to Tongcheng International Investment Singapore Pte. Ltd. The transaction was completed on 29 May 2026 and, consequently, as of 30 June 2026 the Group had no liabilities classified as held for sale.
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24 Financial Report of Wirtualna Polska Holding SA Group for the period of 6 months ended 3 0 June 2026 [ TRANSLATION ONLY ] EQUITY The table below presents the structure and changes in equity by detailed balance sheet categories. PLN'000 As of 30 June 2026 Structure 2026 As of 31 December 2025 (adjusted) Structure 2025 Change Change % Equity attributable to equity holders of the Parent Company, including 690 606 92,6% 881 103 94,1% (190 497) (21,6%) Share capital 1 489 0,2% 1 489 0,2% - 0,0% Supplementary capital 340 674 45,7% 340 674 36,4% - 0,0% Treasury shares (226 671) (30,4%) - 0,0% (226 671) nd Other reserves 352 328 47,2% (1 334) (0,1%) 353 663 26 505,7% Retained earnings 222 786 29,9% 540 274 57,7% (317 488) (58,8%) Non-controlling interests 55 538 7,4% 55 261 5,9% 277 0,5% Equity 746 144 100,0% 936 364 100,0% (190 220) (20,3%) In the first half of 2026, equity attributable to equity holders of the Parent Company decreased by PLN 190.5 million in aggregate. The change in equity attributable to equity holders of the Parent Company resulted from The following events: a decrease in equity of PLN 226.7 million due to the acquisition of own shares; a decrease in equity of PLN 33.7 million due to the dividend declared for the shareholders of the Parent Company; a decrease in equity of PLN 0.6 million resulting from the measurement of the shares held in Moliera 2, which were classified as financial assets measured at fair value through other comprehensive income; an increase in equity of PLN 45.7 million due to net profit attributable to equity holders of the Parent Company; an increase in equity of PLN 0.6 million due to an increase in other reserves in connection with the vesting of the next tranche of share options under the existing incentive plans; an increase in equity of PLN 24.2 million due to the recognition of foreign exchange differences arising from the translation of foreign operations, presented in other reserves; and in addition, in the first half of 2026, PLN 329.5 million was transferred from retained earnings to other reserves, with no impact on the total amount of equity. The reserve was created for the purpose of acquiring the Parent Company’s own shares. Non-controlling interests increased by PLN 0.3 million. This resulted from profits attributable to non - controlling shareholders generated by Superauto.pl and Audioteka Group of PLN 3.4 million and PLN 2.7 million, respectively, as well as dividends declared for the non-controlling shareholders of Superauto.pl of PLN 5.0 million and UAB AMK, a member of Audioteka Group, of PLN 0.9 million.
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25 Financial Report of Wirtualna Polska Holding SA Group for the period of 6 months ended 3 0 June 2026 [ TRANSLATION ONLY ] DISCUSSION OF THE GROUP’S CASH FLOWS IN THE FIRST HALF OF 2026 PLN'000 Six months ended 30 June 2026 Structure 2026 Six months ended 30 June 2025 Structure 2025 Change Change % Net cash flows from operating activities 386 959 193,4% 297 043 80,8% 89 916 30,3% Net cash flows from investing activities 103 107 51,5% (988 937) (268,9%) 1 092 044 110,4% Net cash flows from financing activities (290 003) (145,0%) 1 059 605 288,2% (1 349 608) (127,4%) Total net cash flows 200 063 100,0% 367 711 100,0% (167 648) (45,6%) EBITDA generated by the Group of PLN 1 68.7 million, adjusted for a change in working capital of PLN 246.0 million and income tax payments of PLN 36.0 million, contributed to the generation of positive cash flows from operating activities of PLN 387.0 million. Net cash flows from investing activities were positive and amounted to PLN 103.1 million in the period under review. This was primarily attributable to the disposal of 100% of the shares in Invia Flights Germany GmbH, which generated cash proceeds of PLN 193.0 million. In addition, during the period the Group incurred capital expenditure (CAPEX) on the acquisition of intangible assets and property, plant and equipment totaling PLN 103.9 million and cash in the amount of 12.8 million PLN was received from a unit held for sale Net cash flows from financing activities were negative and amounted to PLN -290.0 million in the current period. During the first half of the year, the Group acquired its own shares and obtained a loan in the amount of PLN 225.9 mln to finance this transaction. The Group also repaid loans and borrowings of PLN 212.0 million, lease liabilities of PLN 19.1 million, and interest and bank commissions of PLN 57.1 million. Cash flows from share buybacks increased by direct costs paid amounted to PLN 226.7 million. Furthermore, the Group remeasured its foreign currency cash balances and recognized foreign exchange differences of PLN 3.6 million.
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26 Financial Report of Wirtualna Polska Holding SA Group for the period of 6 months ended 3 0 June 2026 [ TRANSLATION ONLY ] 2. CHARACTERISTICS OF WIRTUALNA POLSKA HOLDING CAPITAL GROUP GENERAL INFORMATION AND PRINCIPAL ACTIVITY OF THE PARENT COMPANY Wirtualna Polska Holding SA (the “Company”, “WPH”, “WPL”) is entered in the Register of Entrepreneurs of the National Court Register maintained by the District Court for the Capital City of Warsaw in Warsaw, 14th Commercial Division of the National Court Register, under KRS number 0000407130. The Company’s statistical number (REGON) is 016366823. The registered office of the Company is located in Warsaw, at Żwirki i Wigury 16. The Company was established for an indefinite period. The principal activity of the Company is financial holding activities and the provision of management services. The Company is the parent entity of Wirtualna Polska Holding Capital Group. BUSINESS PROFILE OF THE GROUP Wirtualna Polska Group is a technology holding company. It operates in the media, advertising, subscription and e-commerce sectors. The Group owns the WP Homepage, operates specialist thematic websites and offers online subscription products (Audioteka, Pilot WP and Patronite). In e-commerce services, the Group operates primarily in the travel sector (including Invia Group, Wakacje.pl, Szallas Group and Nocowanie.pl) and the financial sector (Superauto.pl and Totalmoney.pl). Our key business priorities are: ensuring the independence and credibility of the media providing high-quality products and services that engage users; and inspiring and supporting users in their everyday online purchasing decisions, The WP Group’s services are developed using innovative solutions that enable us to expand our user base and provide services and advertisements tailored to the needs of users and advertisers. The Group operates in The following business areas: Outbound travel OTA (Wakacje.pl, Invia Group) Wirtualna Polska Holding Group operates in the travel segment, including the online sale and distribution of travel services. In the outbound travel area, the Group develops OTA/travel agent platforms enabling customers to compare and purchase offers from multiple tour operators (including organized holidays), as well as selected city break products and dynamic packages. The Group operates in the Polish market (including Wakacje.pl and Travelplanet), other countries in the CEE region (Invia CEE) and the DACH region (Invia DACH through the Ab- in-den-urlaub brand). The Group offers omnichannel sales in the Central and Eastern European region (online platform, mobile application, call center and an extensive network of franchise-based offline branches) as well as online sales in the DACH region. Wakacje.pl, Travelplanet and Invia (CEE) Wakacje.pl, Travelplanet and Invia (CEE) operate under a multi-agent/marketplace model, providing customers with the ability to compare and purchase offers from multiple tour operators in one place. Sales are carried out
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27 Financial Report of Wirtualna Polska Holding SA Group for the period of 6 months ended 3 0 June 2026 [ TRANSLATION ONLY ] through multiple channels, in particular online channels (websites and applications), call centers and networks of offline branches operating under a franchise model across Central and Eastern European markets. Ab-in-den-urlaub (DACH) In the DACH region, sales are conducted, among others, through the Ab-in-den-urlaub brand, operating as an online booking platform without an offline branch network and focused on digital customer acquisition and service channels. Domestic travel (Szallas Group) In the domestic travel area, the Group develops a portfolio of booking platforms focused on accommodation and short-term travel within the CEE region, particularly within Szallas Group (including Szallas, Nocowanie, Travelminit, Hotely.cz, Spa.cz and Litoralul Romanesc). This activity includes building an accommodation base, developing booking functionalities and supporting accommodation providers in online sales channels. WP Group is one of the largest internet groups in Poland, with its portals and services attracting 21 million users monthly. The Group is engaged in content creation, sale of advertising inventory on both owned and external platforms, as well as the sale of subscription products (including access to television channels via the Pilot WP service, audiobooks produced and distributed by Audioteka, and e-mail services). Wirtualna Polska Media operates in the Polish online advertising market, offering its clients a broad range of internet advertising products. These include, among others, display advertising (including video advertising), e-mail advertising, mobile adverti sing and performance -based advertising models (i.e. settled based on website visits, form completions, registrations, purchases of goods or services, lead generation and performance marketing). For years, WP has been developing automated sales solutions that provide extensive metrics enabling the measurement of campaign effectiveness. The Company carried out a number of initiatives aimed at technological improvements. It continued the development of WP Ads, a platform enabling self-service planning and management of advertising campaigns, including mailing campaigns. WP Ads allows adver tisers to bypass intermediaries and provides settlement based on actual sales performance (ROAS). Additionally, the Group continued the development of WPartner, an SSP (Supply -Side Platform) solution enabling other publishers to effectively monetize their advertising inventory. The solution allows publishers to select the optimal demand offer in real t ime without the need to integrate systems with multiple business partners. Through WPartner, publishers are able to display advertisements from various sources (media agencies, direct clients, regional clients and programmatic advertising) within one platform, while maintaining the most efficient campaign settlement model for their business. Services and content WP journalists prepare dozens of materials every day, including interviews, video reports, opinion pieces, feature stories and news articles. They deliver up-to-date information, comment on current events and present entertainment-related content. Thanks to them, Wirtualna Polska remains a destination to which internet users return every day. WP’s portfolio includes a wide range of thematic services. Every day, we present the most important domestic and international news, operate the most popular financial service in Poland and provide comprehensive sports, automotive, technology, lifestyle and entertainment content.
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28 Financial Report of Wirtualna Polska Holding SA Group for the period of 6 months ended 3 0 June 2026 [ TRANSLATION ONLY ] E-mail services Services facilitating communication for our users also include WP Poczta and o2 Poczta. They offer, among others, unlimited mailbox capacity and attachments of up to 100 MB. These services are distinguished by a high level of security and dedicated business solutions. One of the key tools developed within the e-mail services area is 1login by WP. It enables not only additional two-factor account protection, but also simplified access to multiple other services. As at the end of 2025, the e-mail service had 8.4 million monthly users. An increasing number of external partners also enable their users to log in and authenticate through the 1login by WP account. Subscriptions (Audioteka Group) Wirtualna Polska Group consistently strengthens its position in subscription services. The most important products include Pilot WP, enabling access to traditional television channels in an online format, as well as audiobooks offered by Audioteka, a company acquired in 2022 and the leader of the Polish audiobook market. Through its platform, Audioteka offers more than 30 thousand titles, both under the subscription model (Audioteka Klub) and through retail sales (Audioteka Store). One of Audioteka’s key st rengths is the development of proprietary content, including well-known “Superprodukcje” such as “Szacki”, “Terapeuta” and “Lęk wysokości”. Superauto is engaged in intermediation in obtaining financing for the purchase of new cars via the Internet (including leasing, loans) and is a leading company selling new cars online in Poland. It offers a broad range of new vehicles from various brands. The highest standards of customer service, delivered by a team of experienced advisors, enable individual and corporate customers to finance the purchase of a new car through leasing, rental or loan products without leaving their homes. Totalmoney is a leading platform for comparing various financial products, including cash loans. WP Group’s services compare and enable customers to select the most attractive offers for loans, credits, cards and bank accounts. Totalmoney experts write in simple language, and the content they create helps users navigate the complex world of finance. For users interested in more in -depth knowledge, they also prepare professional rankings and analyses. Additionally, the Group is engaged in the sale of house designs through Extradom. The Group also owns “green assets” — solar farms operating under the WP Naturalnie brand, producing energy from renewable sources.
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29 Financial Report of Wirtualna Polska Holding SA Group for the period of 6 months ended 3 0 June 2026 [ TRANSLATION ONLY ] Within the above business areas, Wirtualna Polska Group owns numerous strong and recognizable brands: We strive to remain the partner of first choice, delivering engaging information, entertainment and services, while inspiring users in their everyday decisions. WP Group’s services are developed based on innovative solutions that enable us to expand our au dience reach and deliver services and advertising solutions with precision.
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30 Financial Report of Wirtualna Polska Holding SA Group for the period of 6 months ended 3 0 June 2026 [ ONLY TRANSLATION ] STRUCTURE OF WIRTUALNA POLSKA HOLDING SA CAPITAL GROUP The diagram presents the Group’s structure as at 30 June 2026.
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31 Financial Report of Wirtualna Polska Holding SA Group for the period of 6 months ended 3 0 June 2026 [ TRANSLATION ONLY ] CHANGES IN THE COMPOSITION AND STRUCTURE OF THE GROUP On 29 May 2026, Invia Flights s.r.o. (“IF”), a subsidiary of WPH, completed the sale of 100% of the shares in Invia Flights Germany GmbH (“IFG”) to Tongcheng International Investment Singapore Pte. Ltd. As a result of the transaction, IF disposed of 25,000 shares representing 100% of IFG’s share capital and received consideration for the shares of EUR 45.5 million. The total transaction value may be adjusted based on the actual amount of net debt and net working capital as of the transaction completion date ; however, according to the Group’s estimates, this adjustment will not be material. CHANGES IN THE GROUP STRUCTURE AFTER THE BALANCE SHEET DATE There were no significant changes in the Group’s ownership structure after the balance sheet date.
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32 Financial Report of Wirtualna Polska Holding SA Group for the period of 6 months ended 3 0 June 2026 [ TRANSLATION ONLY ] 3. FACTORS AND EVENTS, IN PARTICULAR THOSE OF AN UNUSUAL NATURE, HAVING A SIGNIFICANT IMPACT ON THE OPERATIONS AND FINANCIAL RESULTS OF THE COMPANY AND THE CAPITAL GROUP During the analyzed period, The following significant factors affected the financial and operating results of the Company and the Capital Group: • the political and economic situation in Poland and globally; • significant acquisitions completed by the Group in previous periods; • financing costs related to acquisitions. POLITICAL AND ECONOMIC SITUATION IN POLAND AND GLOBALLY In the first half of 2026, the political and economic environment in Central Europe and worldwide remained challenging, although macroeconomic conditions in the European Union showed signs of gradual stabilization compared to previous periods. The economic environment continued to be significantly affected by geopolitical uncertainty, including the escalation of tensions and conflicts in the Middle East, which affected energy commodity prices, supply chain stability and investor sentiment. At the same time, the consequences of monetary and fiscal policies continued to affect the pace of economic growth, investment activity and consumer behaviour. During the period under review, inflationary pressures continued to ease gradually, improving the predictability of the business environment, although the scale and pace of this improvement varied across the countries in the region. According to estimates by the European Commission, GDP in the European Union as a whole increased by 1.5% in 2025, including growth of 3.6% in Poland, 0.5% in Hungary, 2.6% in the Czech Republic, 0.7% in Romania and 0.2% in Germany. Following a period of h igh inflation, price growth across the European Union stabilized at 2.5% in 2025. Among the countries in which the Group operates, the highest inflation rates in 2025 were recorded in Romania (6.8%) and Hungary (4.4%). Inflation in Poland stood at 3.3% in 2025, compared to 2.3% in both Germany and the Czech Republic. SIGNIFICANT ACQUISITIONS COMPLETED BY THE GROUP IN PREVIOUS PERIODS On 24 April 2025, the transaction for the acquisition of 100% of shares in Invia Group SE was finalized. As a result of the transaction, the Group acquired 10 shares in Invia, representing 100% of Invia’s share capital. At the same time, all loans granted by the previous owner were settled using funds originating from an intra - group loan granted by Wirtualna Polska Media SA. The purchase price for the Invia shares and the existing indebtedness as at the transaction date amounted in total to EUR 242.8 million, including existing indebtedness of EUR 52.5 million. The final total value of the Transaction, adjusted for the actual net debt value as at the transaction closing date, amounted to EUR 243.96 million and was settled in July 2025. The acquisition of the companies and the first-time consolidation of their results involved: • additional acquisition-related costs (including legal advisory fees, transaction costs, commercial, legal, financial and tax due diligence, and civil law transaction tax (PCC)); • higher interest expenses; • commission costs and additional amortization, including amortization of identified intangible assets recognized as part of the purchase price allocation (PPA) In December 2025, the Group announced its intention to dispose of Fluege.de, one of the leading online flight booking platforms in the DACH region, in order to focus on the key areas of the travel segment — package holidays and domestic travel. On 14 April 2026, the Group received information regarding the fulfilment of the final significant condition precedent for the transaction involving the disposal of 100% of shares in Invia Flights Germany GmbH by Invia Flights s.r.o. to Tongcheng International Invest ment Singapore Pte. Ltd., namely obtaining approval for the transaction from the competent public administration authority in Germany — the
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33 Financial Report of Wirtualna Polska Holding SA Group for the period of 6 months ended 3 0 June 2026 [ TRANSLATION ONLY ] Federal Ministry for Economic Affairs and Energy. On 29 May 2026, the sale of 100% of the shares in Invia Flights Germany GmbH was completed. FINANCING COSTS RELATED TO ACQUISITIONS AND DEVELOPMENT The Group uses debt financing in connection with its acquisition activities. In 2022, the Group increased its indebtedness mainly in connection with financing the acquisition of shares in Szallas Group (PLN 399 million), as well as part of the shares in Audioteka (PLN 45 million). During 2024, the Group acquired a majority stake in Creative Eye, owner of the Romanian travel platform Litoralul Romanesc. The acquisition was refinanced with bank debt in the first quarter of 2025. In December 2024, the Group signed an agreement for the acquisition of Invia Group. The transaction was finalized on 24 April 2025 and financed with bank debt. In December 2025, the Group signed an agreement for the disposal of Invia Flights. The transaction was finalized at the end of May 2026. In June 2026, the Company acquired its own shares for a total amount of PLN 225.9 million. The transaction was financed with funds obtained under a bank loan. As of 30 June 2026, indebtedness under the credit facility agreement amounted to PLN 1,798 million, compared to PLN 1,763 million as of 31 March 2026. The net debt to adjusted EBITDA pro forma ratio as of the end of June 2026 amounted to 2.3x, excluding EBITDA generated by Invia Flights, which was disposed of in May 2026. Indebtedness under the credit facility agreement bears interest at the 3M WIBOR and 3M EURIBOR rates plus the margins specified in the agreement. In the first half of 2026, the Group’s interest and commission costs, which predominantly related to interest on the loan drawn under the credit facility agreement, amounted to PLN 58.2 million. The amount of these costs in future periods will depend on th e 3M WIBOR and 3M EURIBOR rates, which as of 30 June 2026 amounted to 3.85% and 2.32%, respectively. The acquisition of the companies and the first -time consolidation of their results involved additional acquisition-related costs (including legal advisory services, transaction costs, market, legal, financial and tax due diligence, and tax on civil law transactions), higher interest and commission costs, and the recognition of additional amortization, including amortization of identified intangible assets recognized as part of the purchase price allocation (PPA). Apart from the factors described above, no factors or events of an unusual nature that had a significant impact on the financial results occurred in the first half of 2026.
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34 Financial Report of Wirtualna Polska Holding SA Group for the period of 6 months ended 3 0 June 2026 [ TRANSLATION ONLY ] 4. FACTORS WHICH, IN THE MANAGEMENT BOARD’S OPINION, WILL AFFECT THE FINANCIAL RESULTS OF THE COMPANY AND THE CAPITAL GROUP IN FUTURE PERIODS The operations of the Company and the Group will continue to be affected primarily by The following factors, similarly to previous periods: POLITICAL AND ECONOMIC SITUATION IN THE REGION AND GLOBALLY The Group operates primarily in the online media and advertising market in the Central and Eastern European region, as well as in the online travel segment (travel booking intermediation services) across the Central and Eastern European markets and the DACH region (Germany, Austria and Switzerland). The performance of both segments is significantly dependent on macroeconomic conditions, including the pace of economic growth, the level of consumer spending and the willingness of businesses to incur advertising expenditure. Consequently, the Group’s operations are affected by macroeconomic factors shaping the situation in the region, which in turn is significantly influenced by the economic environment in the European Union and globally. According to estimates by the European Commission, GDP in the European Union as a whole increased by 1.5% in 2025, including growth of 3.6% in Poland, 0.5% in Hungary, 2.6% in the Czech Republic, 0.7% in Romania and 0.2% in Germany. Following a period of high inflation, price growth across the European Union stabilized at 2.5% in 2025. Among the countries in which the Group operates, the highest inflation rates in 2025 were recorded in Romania (6.8%) and Hungary (4.4%). Inflation in Poland stood at 3.3% in 2025, compared to 2.3% in both Germany and the Czech Republic. In 2026, the European Commission expects inflation in the countries of the region to increase slightly to 3.1%, primarily as a result of the consequences of the conflict in the Middle East. In May 2026, the European Commission lowered its GDP growth forecast for the European Union to 1.1% (compared to the previously expected 1.4%) due to the negative impact of the conflict in the Middle East, particularly on fuel prices and inflation levels. In 2026, the European Commission expects GDP growth of 3.5% in Poland, 1.8% in Hungary, 1.8% in the Czech Republic, 0.1% in Romania and 0.6% in Germany. Changes in the economic environment, reflected in GDP growth dynamics, affect the purchasing power of the Group’s clients and consumers of its products and services, as well as the propensity for consumer spending or saving. This, in turn, influences the level of advertising budgets of the Group’s clients and consequently the demand for the Group’s advertising products, as well as e-commerce products and services. In subsequent periods, the Group’s performance may continue to be affected by the geopolitical situation concerning key travel destinations, particularly Turkey and Egypt, which account for a significant portion of travel agency sales in the Polish, Czech and German markets. As of the date of this report, these destinations remain open and operational; however, further developments and their impact on consumer behaviour and customers’ purchasing decisions, as well as on the financial stability of tour operators, remain difficult to predict. Any increase in uncertainty may affect the pace of bookings and the structure of demand, while the ability to fully redirect sales to other destinations may be limited by the availability of the offering. Consequently, sales growth may slow, revenue may remain flat or temporarily decline in the coming quarters. At the same time, the commission-based business model limits the risk of significant losses, reducing the sensitivity of the OTA model to short-term fluctuations in demand. The Group’s success depends on the development of services and technologies, as well as on the overall condition and structure of the markets in which the Group operates, particularly the online advertising, e-commerce and travel markets in Central Europe, including Poland, Germany, the Czech Republic and Hungary. In recent years, macroeconomic factors (inflation, financing costs and exchange rate fluctuations), regulatory developments (including regulations governing platforms and advertising) and technological changes related to privacy and automation (including AI) have become increasingly important drivers of these markets. Interest rate levels affect consumers’ propensity to make purchases, including deferred purchases and purchases financed with credit. At the same time, the regulatory environment is becoming increasingly important for the operation of online platforms and the transparency of online advertising. In parallel, technological changes are limiting traditional
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35 Financial Report of Wirtualna Polska Holding SA Group for the period of 6 months ended 3 0 June 2026 [ TRANSLATION ONLY ] campaign addressability and measurement, particularly due to the growing importance of consent and first-party data. At the same time, the regulatory environment is becoming increasingly important for the operation of online platforms and the transparency of online advertising, including requirements relating to content labelling, accountability and consumer protection. In parallel, technological changes are limiting traditional campaign addressability and measurement, particularly due to the growing importance of consent and first-party data, which may affect targeting and attribution effectiveness, as well as advertising rates. The online advertising market is also undergoing a structural shift in the mix of advertising formats and campaign objectives. Video formats, including short-form video, search advertising and performance marketing are recording relatively higher growth rates. The shift of advertising budgets towards channels offering measurable returns, the dominance of auction-based and programmatic buying models, and supply chain optimization, including reliance on adtech intermediaries and technology integrations, may affect the monetization of advertising inventory. In addition, demand and monetization in online advertising are affected by competition for users’ attention and changes in content consumption patterns, including the growing importance of applications and video formats, which may affect reach, time spent on websites and available advertising inventory. Qualitative and reputational factors, such as brand safety and viewability, as well as risks associated with abuse in the advertising ecosystem, including fraud, are also significant. The e-commerce market in Central Europe continues to grow; however, it remains sensitive to cost factors, including logistics, energy and returns processing costs, as well as price pressure and increasing competition in cross-border e-commerce. The e-commerce market is increasingly entering a mature phase, with the customer experience, integration of online and offline channels (omnichannel), and mobile and cross-border purchases becoming more important, while competition increases pressure on operating efficiency and service quality. Key trends in the coming years include mobile-first solutions and personalization, including the use of AI in the purchasing process, as well as the development of retail media. It cannot be ruled out that factors beyond the Group’s control, such as changes in consumer habits, may slow the migration of sales from traditional to online channels, which could adversely affect the Group’s ability to develop its online advertising and e-commerce activities. DEVELOPMENT OF THE OUTBOUND AND DOMESTIC TRAVEL MARKET IN THE CEE AND DACH REGIONS The Group’s situation and results in future years will depend to a significant extent on market conditions in the travel industry, including both outbound and domestic travel in the Central and Eastern European (CEE) region and the DACH region. In 2025, demand for travel services increased, particularly in the CEE region, supported by rising household income, improved availability of flight connections and growing consumer willingness to allocate part of their budgets to travel and leisure. At the same time, a clear trend towards digitalization of the travel booking process continues, with an increasing share of customers making reservations online. The Group’s acquisition of Invia Group, one of the leading online intermediaries in the sale of package holidays in the region, significantly increases the Group’s exposure to the online travel market. The development of electronic payments and the growing popularity of mobile booking applications may further support the growth of this segment. However, macroeconomic factors (such as inflation and exchange rates) as well as geopolitical factors (including political stability in popular tourist destinations) may affect the scale and dynamics of travel activity and consequently demand for travel services. Changes in consumer preferences may also alter the sales structure across particular channels. MARKET COMPETITION Both globally and in Poland, the online advertising market and the e-commerce market are characterized by high levels of competition. In the Advertising and Subscription segment, the Group’s direct competitors include entities operating domestic internet portals and services, in particular Onet.pl Group, Polsat-Interia.pl Group and Gazeta.pl Group. In addition, the Group competes with pr oviders of various internet services (such as Google, Facebook and X), including
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36 Financial Report of Wirtualna Polska Holding SA Group for the period of 6 months ended 3 0 June 2026 [ TRANSLATION ONLY ] particularly in the area of e -mail services (e.g. Yahoo!, Gmail), as well as with television advertising market participants, especially other TV broadcasters. Furthermore, other entities operating in the broadly understood advertising market, including television stations, newspapers and radio broadcasters, also compete indirectly with the Group for advertising budgets. These entities compete in terms of product and service pricing, particularly advertising rates, the ability to reach target audiences desired by advertisers, the attractiveness and quality of published content (including compliance with internet advertising visibility standards defined by IAB Poland), the ability to shape or quickly adapt to market trends, as well as brand strength. As at the report date, the Group is one of the two leading domestic internet portal and service operators in terms of real users and audience reach. This leading position is significant due to the so-called “leader premium”, meaning advertisers’ preference for placing advertisements on portals and services perceived as market leaders in terms of user reach, which materially affects generated revenue. The Group’s ability to strengthen its current competitive position depends on numerous factors, primarily brand recognition and reputation, the attractiveness and quality of published content, the user base, and the ability to analyze and process user data. It cannot be excluded that, due to a number of factors largely beyond the Group’s control, the Group may not be able to strengthen or maintain its current position. Moreover, increased competition in the markets in which the Group operates may result in gr eater pricing pressure on offered products and services, particularly online advertising formats, and may also require increased expenditure on marketing activities or research and development related to the market and the development and implementation of new products, services, improvements and innovative solutions. The Group conducts e-commerce activities through numerous entities operating across highly diversified target markets (including travel, car sales, consumer finance and house designs). Each of these markets is characterized by a different level of competitiveness, while in some cases key suppliers are also direct competitors to Group entities. In addition, the e-commerce market is characterized by a large number of newly established participants, further increasing competition intensity. In most cases, Grou p entities hold leading positions within their categories, particularly in terms of user numbers. However, it cannot be excluded that some or all entities operating in the e- commerce market may fail to strengthen or maintain their current positions due to factors largely beyond the Group’s control. In the Travel segment, the Group competes with entities offering travel services through both online and offline channels. The most significant competitors for the Group’s brands operating under the intermediary and marketplace model (including Wakacje.pl and Ab-in-den-Urlaub) are travel agencies and tour operators conducting direct sales through their own websites, mobile applications and agency networks. The Group also competes with other online intermediaries and booking platforms (OTA/marketplaces) operating in individual markets, as well as — in terms of traffic acquisition and purchase intent — comparison services and offer aggregators; in the German market, one of the significant competitors in this area is Check24. Additionally, the Group competes with travel service providers conducting direct sales, including hotels and hotel chains, accommodation providers, airlines and other entities offering direct booking channels, which may affect offer availability and the level of margins and commissions. In the domestic travel and accommodation booking segment, the main competitor of Szallas Group is the global platform Booking.com, which benefits from a broad accommodation base, strong brand recognition and significant marketing and technology investments, increasing competitive pressure, particularly in terms of user acquisition costs and offer visibility. Entities competing in the travel market compete primarily in terms of pricing and offer conditions (including availability, cancellation and refund policies, and date flexibility), the breadth and quality of offer databases, marketing effectiveness (SEO/SEM, performance marketing and affiliate activities), quality of user experience (search functionality, personalization, mobile solutions and booking process speed), customer service standards and after- sales support, as well as brand strength and consumer trust.
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37 Financial Report of Wirtualna Polska Holding SA Group for the period of 6 months ended 3 0 June 2026 [ TRANSLATION ONLY ] INCREASING EFFICIENCY THROUGH THE USE OF GROUP RESOURCES AND BIG DATA TOOLS The Group possesses one of the largest user bases of internet portals in Poland, as well as the largest user base of e-mail services in Poland. Achieving this position was possible, among others, due to acquisitions completed by the Group. Having a large number of users of services and content gives the Group, within the limits provided by applicable law, access to information regarding user behavior. Thanks to access to large volumes of user behavior data (in particular concerning content and services used by users), as well as technological progress in the analysis of large datasets achieved in recent years (including the emergence of tools enabling the analysis of large, diversified and high-frequency datasets — so-called big data), the Group has significant potential to improve operational efficiency, among others through content personalization and advertising personalization, increasing advertising effectiveness by eliminating advertisements for products that are not relevant to a given user. ACTIVE ACQUISITION STRATEGY In line with the Group’s adopted strategy, the Management Board continuously analyzes investment opportunities in companies providing services similar or complementary to those offered by the Group, which may expand the Group’s product and service portfolio, and actively participates in acquisition processes. During 2024, the Group acquired a majority stake in Creative Eye, owner of the Romanian travel platform Litoralul Romanesc. The transaction was finalised on 6 August 2025 following the acquisition of the remaining minority shares. In December 2024, the Group announced its intention to acquire 100% of Invia Group, an OTA (Online Travel Agent) group operating in Central Europe (including Germany, Poland, the Czech Republic and Hungary). The acquisition was finalized on 24 April 2025. The acquisitions completed by the Group will in future periods result in higher interest and commission expenses, as well as additional amortization, including amortization of identified intangible assets recognized as part of the purchase price allocation (PPA).
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38 Financial Report of Wirtualna Polska Holding SA Group for the period of 6 months ended 3 0 June 2026 [ TRANSLATION ONLY ] 5. SIGNIFICANT EVENTS THAT OCCURRED IN THE FIRST HALF OF 2026 Execution of a new amendment to the credit facility agreement On 30 March 2026, an amendment to the credit facility agreement (the “Credit Facility Agreement”) dated 20 March 2024 was executed between Wirtualna Polska Holding SA and Wirtualna Polska Media SA — as borrowers (the “Borrowers”) — and TotalMoney.pl Sp. z o.o., Wakacje.pl S.A., Audioteka Group Sp. z o.o. and other subsidiaries of the Company as guarantors, as well as a banking consortium comprising mBank S.A. as facility agent, Powszechna Kasa Oszczędności Bank Polski S.A., ING Bank Śląski S.A., Bank Polska Kasa Opieki S.A., BNP Paribas Bank Polska S.A. and Bank Handlowy S.A. as lenders. Pursuant to the amendment: • WPH joined the Credit Facility Agreement as a Borrower, enabling the Company to utilize the credit facilities (including the Capex facility and guarantee line facilities); • financing available under the Capex facility tranche was increased by PLN 220 million (to a total amount of PLN 405 million); • the Lenders granted guarantee line facilities with a total amount of PLN 400 million. Conclusion of an agreement concerning the joint acquisition of shares under the tender offer, decision to announce a voluntary tender offer for all remaining shares in the Company, and settlement of the acquisition of own shares. On 30 March 2026, Wirtualna Polska Holding SA entered into an agreement (the “Agreement”) with The following parties: Orfe S.A., 10X S.A., Albemuth Inwestycje S.A., Jacek Świderski, Michał Wiktor Brański and Krzysztof Daniel Sierota. Under the Agreement, the parties undertook to take joint action to announce and conduct a voluntary tender offer for 100% of the WPH shares not held by the parties to the Agreement, their subsidiaries or their parent entities, subject to the adoption of an appropriate resolution by the General Meeting of WPH. In connection with the conclusion of the Agreement, on 30 March 2026 the parties to the Agreement entered into an agreement with Santander Bank Polska S.A. – Santander Biuro Maklerskie for intermediary services in connection with the Tender Offer. The tender offer for the sale of shares was announced on 28 April 2026. On 3 June 2026, the Management Board of WPH adopted a resolution on the acquisition of the Company’s own shares. The transaction was executed on 8 June 2026 and settled on 10 June 2026. The acquisition comprised 3,828,130 ordinary bearer shares in the Company, with a nominal value of PLN 0.05 each and a total nominal value of PLN 191,406.50, registered with the Central Securities Depository of Poland (Krajowy Depozyt Papierów Wartościowych S.A.) under ISIN code PLWRTPL00027. The shares represent approximately 12.86% of the Company’s share capital and carry a total of 3,828,130 votes at the Company’s General Meeting, representing approximately 9.32% of the total number of votes in the Company. The acquisition price for each acquired share was equal to the price specified in the Tender Offer, i.e. PLN 59.00. The total amount allocated by the Company for the acquisition of the shares was PLN 225,859,670.00 and was financed from the reserve capital created pursuant to the General Meeting Resolution from retained earnings from previous years. Completion of the disposal of shares in the subsidiary Invia Flights Germany GmbH On 29 May 2026, Invia Flights s.r.o. (“IF”), a subsidiary of WPH, completed the sale of 100% of the shares in Invia Flights Germany GmbH (“IFG”) to Tongcheng International Investment Singapore Pte. Ltd. As a result of the transaction, IF disposed of 25,000 shares representing 100% of IFG’s share capital and received consideration for the shares of EUR 45.5 million. The total transaction value may be adjusted based on the actual amount of net debt and net working capital as of the transaction completion date ; however, according to the Group’s estimates, this adjustment will not be material.
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39 Financial Report of Wirtualna Polska Holding SA Group for the period of 6 months ended 3 0 June 2026 [ TRANSLATION ONLY ] Recognition of additional estimated gains from a tax refund in connection with the adjustment of overpaid CIT following the application of the IP Box tax relief In its financial results for the first half of 2026, the subsidiary Wirtualna Polska Media SA recognized additional gains with a total estimated value of PLN 66.8 million resulting from an adjustment to corporate income tax (CIT) overpaid for the years 202 0–2024. These gains resulted from identifying a part of the Company’s operations related to the creation and development of intellectual property – in particular, proprietary IT systems used to operate the Company’s websites – that qualifies for preferential taxation under the IP Box tax relief. In March and June 2026, the subsidiary Wirtualna Polska Media SA filed amended CIT returns for the years 2020–2021 and 2022–2023, respectively, identifying income derived from qualifying intellectual property rights, while also preparing an amended return for 2024. Upon filing the amended returns, the receivable for the years 2020–2021 was covered by a 100% impairment allowance due to the ongoing verification proceedings. Following the completion of the verification proceedings relating to the first amended return, in July 2026 the Company received a tax refund of PLN 21.2 million for the years 2020 –2021. In the Group’s opinion, this confirmed the recoverability of the income tax receivable as of 30 June 2026 and, consequently, the corresponding impairment allowance was reversed. Following the positive outcome of the proceedings concerning the settlement of the IP Box tax relief for 2021, the Management Board reassessed the probability of obtaining corresponding refunds for the years 2022 – 2024. Based on the outcome of the completed proceedings and other available evidence, the Management Board concluded that the circumstances justified the recognition of an additional asset and income of PLN 45.6 million in the second quarter of 2026. This assessment was further supported by WPM’s r eceipt, in August 2026, of tax refunds of PLN 20.1 million for 2022 and PLN 14.9 million for 2023. The tax preferences applied are a consequence of the WP Group’s strategy of investing in Poland in the development of its proprietary technologies and IT solutions that qualify as intellectual property rights within the meaning of the IP Box regulations. Apart from the events described above, changes in the Group’s structure and changes in the value of the Parent Company’s equity, no other material events occurred during the period under review.
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40 Financial Report of Wirtualna Polska Holding SA Group for the period of 6 months ended 3 0 June 2026 [ TRANSLATION ONLY ] 6. SHARES AND SHAREHOLDING STRUCTURE GOVERNING BODIES OF WIRTUALNA POLSKA HOLDING SA AND CHANGES IN THEIR COMPOSITION MANAGEMENT BOARD The composition of the Management Board as at the date of this report was as follows: SUPERVISORY BOARD OF THE COMPANY The composition of the Supervisory Board as at the date of this report was as follows:
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41 Financial Report of Wirtualna Polska Holding SA Group for the period of 6 months ended 3 0 June 2026 [ TRANSLATION ONLY ] DIVIDEND POLICY On 20 December 2016, the Management Board of Wirtualna Polska Holding SA adopted a dividend policy. In accordance with the adopted policy, the Management Board will recommend to the General Meeting the payment of a dividend exceeding PLN 1 per share, but amounting in total to no more than 70% of the consolidated net profit of the Capital Group presented in the financial statements for a given financial year. When recommending dividend payments, the Management Board will each time take into account significant factors, in particular: a) the current financial situation of the Capital Group, b) the Group’s investment plans, c) potential acquisition targets of companies within the Group, d) the expected level of free cash flow in WPH in the financial year in which the dividend payment is made. The decision on the payment of dividends by WPH SA is made by the General Meeting. On 2 June 2026, the Annual General Meeting of Wirtualna Polska Holding adopted a resolution to pay a dividend of PLN 38,708 thousand. The dividend was paid on 20 July 2026. After taking into account the share buyback, the final amount of the dividend paid was PLN 33,731 thousand. SHARE CAPITAL STRUCTURE As at 30 June 2026, the share capital consisted of 29.775.297 shares with a nominal value of PLN 0,05 each, carrying 41,065,006 votes at the General Meeting, including: 11,289,709 registered preferred series A shares; the preference attached to the 11,289,709 series A shares concerns voting rights at the General Meeting, whereby each share carries two votes; 1,100,000 ordinary bearer series A shares; 12,221,811 ordinary bearer series B shares; 301,518 ordinary bearer series C shares; 929,058 ordinary bearer series D shares; 3,339,744 ordinary bearer series E shares; 593,457 ordinary bearer series F shares. Series B, C, D, E and F shares, as well as Series A bearer shares without preferential voting rights, are admitted to trading on the regulated market.
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42 Financial Report of Wirtualna Polska Holding SA Group for the period of 6 months ended 3 0 June 2026 [ TRANSLATION ONLY ] SHAREHOLDERS HOLDING AT LEAST 5% OF THE TOTAL NUMBER OF VOTES According to notifications received by Wirtualna Polska Holding SA and to the best knowledge of the Company, the shareholder structure of entities holding directly or indirectly through subsidiaries at least 5% of the total number of votes at the Company’s General Meeting as at 30 June 2026 was presented in The following table. Shareholder Number of shares % of share capital Number of votes % of votes Jacek Świderski through subsidiaries, including: 3 779 667 12,69% 7 542 904 18,37% Orfe S.A. 3 779 667 12,69% 7 542 904 18,37% Michał Brański through subsidiaries, including: 3 775 416 12,68% 7 538 652 18,36% 10X S.A. 3 767 488 12,65% 7 530 724 18,34% Krzysztof Sierota through subsidiaries, including: 3 771 164 12,67% 7 534 400 18,35% Albemuth Inwestycje S.A. 3 763 236 12,64% 7 526 472 18,33% Company (treasury shares) ***: 3 828 130 12,86% 3 828 130 9,32% Total: Founders * and the Company ** 15 154 377 50,90% 26 444 086 64,40% Allianz OFE 3 597 103 12,08% 3 597 103 8,76% Others 11 023 817 37,02% 11 023 817 26,84% Total 29 775 297 100,00% 41 065 006 100,00% * Pursuant to the shareholders’ agreement concluded on 19 March 2015 by the Founders and their subsidiaries (Orfe SA, 10X SA and Albemuth Inwestycje SA), constituting an agreement regarding concerted voting at the Company’s General Meeting and pursuing a long-term policy towards the Company, the Founders exercise voting rights jointly. ** The Company, together with the Founders and their subsidiaries (Orfe S.A., 10X S.A. and Albemuth Inwestycje S.A.), is a party to an agreement within the meaning of Article 87(1)(5) of the Act on Public Offerings, concerning the acquisition of the Company’s shares, concluded on 30 March 2026. *** Pursuant to Article 364(2) of the Commercial Companies Code, the Company does not exercise voting rights attached to its own shares. SHARES HELD BY MANAGEMENT AND SUPERVISORY PERSONNEL As at the date of this report, the number of shares held in Wirtualna Polska Holding SA by management and supervisory personnel was as follows: Jacek Świderski is indirectly entitled to exercise voting rights attached to 3,763,237 Series A registered shares in the Company held by Orfe SA, carrying preferential voting rights whereby each share entitles its holder to two votes at the General Meeting, and 16,430 ordinary bearer shares held by Orfe SA. These shares represent in aggregate 12.69% of the Company’s share capital and carry 7,542,904 votes at the Company’s General Meeting, representing 18.37% of the total number of votes; Krzysztof Sierota is indirectly entitled to exercise voting rights attached to 3,763,236 Series A registered shares in the Company held by Albemuth Inwestycje SA, carrying preferential voting rights whereby each share entitles its holder to two votes at the General Meeting, and 7,928 ordinary bearer shares held by Highcastle Sp. z o.o. These shares represent in aggregate 12.67% of the Company’s share capital and carry 7,534,400 votes at the Company’s General Meeting, representing 18.35% of the total number of votes; Michał Brański is indirectly entitled to exercise voting rights attached to 3,763,236 Series A registered shares in the Company held by 10X SA, carrying preferential voting rights whereby each share entitles its holder to two votes at the General Meeting, 7,928 ordinary bearer shares held by Now2 Sp. z o.o. and 4,252 ordinary bearer shares held by 10X SA. These shares represent in aggregate 12.68% of the Company’s share capital and carry 7,538,652 votes at the Company’s General Meeting, representing 18.36% of the total number of votes.
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43 Financial Report of Wirtualna Polska Holding SA Group for the period of 6 months ended 3 0 June 2026 [ TRANSLATION ONLY ] Elżbieta Bujniewicz-Belka is indirectly entitled to exercise voting rights attached to 328,099 ordinary bearer shares, representing in aggregate 1.1% of the Company’s share capital and carrying 328,099 votes at the Company’s General Meeting, representing 0.80% of the total number of votes. Paweł Wujec is entitled to exercise voting rights attached to 300 ordinary bearer shares, representing in aggregate 0.001% of the Company’s share capital and carrying 300 votes at the Company’s General Meeting, representing 0.0007% of the total number of votes. Additional information on the structure of and changes in equity and voting rights is presented in Note 23 to the consolidated financial statement. INFORMATION ON AGREEMENTS RELATED TO CHANGES IN THE SHAREHOLDING STRUCTURE INCENTIVE PLAN – SHARE-BASED PAYMENTS AND ITS CONTROL SYSTEM On 23 October 2014, the shareholders of the Parent Company entered into an agreement providing for the establishment of an incentive plan under which key individuals cooperating with the Group would be granted options to acquire shares in the Company. As of 30 June 2026, all options available under the plan had been granted. However, an additional agreement was entered into with a member of the Company’s Management Board, setting out obligations relating to the package of shares acquired under the incentive plan in 2024. For a period of five years commencing on 1 January 2025, the right to dispose of the rights attached to the shares is restricted and conditional upon the Management Board member continuing to hold office in the Company. Consequently, despite the options having been granted in 2024, the Company recognizes the cost of this package over a five-year period commencing on 1 January 2025. Detailed information on the first incentive plan is presented in Note 24 to the Group’s condensed consolidated financial statements for the six-month periods ended 30 June 2026. ACQUISITION OF TREASURY SHARES Between 1 January and 30 June 2026, Wirtualna Polska Holding SA acquired 3,828,130 of its own shares, representing 12.86% of the Company’s share capital and carrying a total of 3,828,130 votes at the Company’s General Meeting, representing approximately 9.32% of the total number of votes in the Company, for a total consideration of PLN 225.9 million under the share buyback programme approved by the General Meeting. As of 30 June 2026, the own shares were recognized as a deduction from equity. As of the publication date of this report, the shares had not been cancelled. None of the other companies comprising the Capital Group held any own shares as of 30 June 2026.
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44 Financial Report of Wirtualna Polska Holding SA Group for the period of 6 months ended 3 0 June 2026 [ TRANSLATION ONLY ] 7. ADDITIONAL INFORMATION EVENTS OCCURRING AFTER THE BALANCE SHEET DATE Detailed information on events after the balance sheet date is presented in Note 36 to the condensed consolidated financial statements for the six-month periods ended 30 June 2026. MANAGEMENT BOARD’S POSITION REGARDING THE POSSIBILITY OF ACHIEVING PREVIOUSLY PUBLISHED FORECASTS FOR A GIVEN YEAR The Group did not publish financial forecasts for 2026. PROCEEDINGS PENDING BEFORE A COURT, ARBITRATION AUTHORITY OR PUBLIC ADMINISTRATIVE AUTHORITY Where a Group company is a defendant in court proceedings, a provision is recognized for the respective case based on its facts and circumstances and an estimate of costs prepared by the legal department handling the case. Provisions are recognized in the amount of claims and court costs which, in the Group’s opinion, are probable to be awarded. At present, there are no court, arbitration or administrative proceedings concerning liabilities or receivables of Wirtualna Polska Holding SA or its subsidiaries whose value would exceed 10% of the equity of Wirtualna Polska Holding SA. INFORMATION ON RELATED PARTY TRANSACTIONS All related party transactions are concluded on an arm’s length basis. Detailed information on related party transactions is presented in Note 32 to the consolidated financial statements for the six-month periods ended 30 June 2026. INFORMATION ON GUARANTEES, SURETIES FOR LOANS OR BORROWINGS, AND LOANS GRANTED GUARANTEES PROVIDED TO ENTITIES OUTSIDE THE GROUP During the analyzed period, none of the Group companies granted guarantees for loans or borrowings, nor provided guarantees to a single entity or its subsidiary with a total value representing at least 10% of the equity of Wirtualna Polska Holding. INTRA-GROUP GUARANTEES The guarantors of the credit facility agreement effective as at 30 June 2026, concluded on 20 March 2024 between Wirtualna Polska Media SA, Wirtualna Polska Holding SA, Wakacje.pl SA and mBank SA, Powszechna Kasa Oszczędności Bank Polski SA, ING Bank Śląski SA, Bank Polska Kasa Opieki SA, BNP Paribas Bank Polska SA and Bank Handlowy SA, are: Wirtualna Polska Holding SA, Wirtualna Polska Media SA, Totalmoney.pl Sp. z o.o., Wakacje.pl SA, Audioteka Group Sp. z o.o., Nocowanie.pl Sp. z o.o., Extradom.pl Sp. z o.o., WP Naturalnie Solar 1 Sp. z o.o., WP Naturalnie Solar 2 Sp. z o.o., Szallas Group Zrt, Online Holding s.r.o., Invia cz. a.s., Invia Group SE and Invia Travel Germany GmbH. LOANS GRANTED As of 30 June 2026, Wirtualna Polska Holding SA and Wirtualna Polska Media SA were parties to loan agreements under which loans were granted to companies within the Capital Group to finance acquisitions and ongoing operating activities. The Parent Company had no outstanding loans from other Group companies.
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45 Financial Report of Wirtualna Polska Holding SA Group for the period of 6 months ended 3 0 June 2026 [ TRANSLATION ONLY ] INFORMATION ON CREDIT AND LOAN AGREEMENTS CONCLUDED OR TERMINATED DURING THE FINANCIAL YEAR LOANS AND BORROWINGS OBTAINED FROM FINANCIAL INSTITUTIONS In accordance with the financing model adopted within the Capital Group, only Wirtualna Polska Holding SA and its subsidiary Wirtualna Polska Media SA are parties to loans obtained from external institutions (excluding overdraft facilities), while both borrowers and selected Group companies act as guarantors under such agreements. The Group is also a party to a stock financing loan agreement entered into in 2021 to finance the acquisition of vehicles sold as part of Superauto’s operations. The loan limit amounts to PLN 15 million. As of 30 June 2026, Superauto had drawn PLN 6.6 million under the available credit facility. The terms of the credit facility and the loan received, as well as changes during the year, are described in detail in Note 25 to the financial statements. INTRA-GROUP LOANS Within the WPH Capital Group, Group companies grant loans to one another to finance their ongoing operating activities and investment projects. Such intragroup financing enables efficient liquidity management and optimization of the cost of capital across the Group compared to external financing. The Parent Company had no outstanding loans from other Group companies. OTHER INFORMATION WHICH, IN THE GROUP’S OPINION, IS MATERIAL FOR THE ASSESSMENT OF THE EMPLOYMENT, ASSET, FINANCIAL POSITION AND FINANCIAL RESULTS OF THE GROUP AND THEIR CHANGES, AS WELL AS INFORMATION MATERIAL FOR THE ASSESSMENT OF THE GROUP’S ABILITY TO MEET ITS OBLIGATIONS. Other than the events presented in this document and in the consolidated financial statements, no other events occurred up to the publication date of this report that would be material for assessing the Group’s ability to meet its obligations. In the opinion of the Management Board of Wirtualna Polska Holding SA, the information presented comprehensively describes the employment, asset and financial position of the Group, and no other undisclosed events occurred that could be considered material for the assessment of such position .
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46 Financial Report of Wirtualna Polska Holding SA Group for the period of 6 months ended 3 0 June 2026 [ TRANSLATION ONLY ] 8. SELECTED CONSOLIDATED FINANCIAL DATA TRANSLATED INTO EUR CONSOLIDATED STATEMENT OF PROFIT OR LOSS AND OTHER COMPREHENSIVE INCOME Six months ended 30 June 2026 Six months ended 30 June 2025 Six months ended 30 June 2026 Six months ended 30 June 2025 PLN'000 EUR'000 Segments total Sales 1 163 861 912 768 273 708 216 255 Cash sales 1 156 404 903 568 271 954 214 075 Adjusted EBITDA (IFRS 16) 202 640 207 706 47 655 49 210 EBITDA (IFRS 16) 168 718 167 374 39 678 39 655 Amortization and depreciation total (142 957) (106 486) (33 619) (25 229) Operating profit 25 761 60 888 6 058 14 426 Result on financial activities (33 454) (40 800) (7 867) (9 666) Profit before tax (7 693) 20 088 (1 809) 4 759 Net profit 51 926 3 161 12 212 749 CONSOLIDATED STATEMENT OF FINANCIAL POSITION As of 30 June 2026 As of 31 December 2025 (adjusted) As of 30 June 2026 As of 31 December 2025 (adjusted) PLN'000 EUR'000 Total assets 4 029 033 3 831 241 937 791 906 438 Non-current assets 2 612 661 2 607 943 608 119 617 016 Current assets 1 416 372 1 223 298 329 673 289 421 Long-term liabilities 1 990 838 2 013 037 463 384 476 267 Short-term liabilities 1 292 052 881 840 300 736 208 636 Equity 746 144 936 364 173 671 221 535 Share capital 1 489 1 489 347 352 Non-controlling interests 55 538 55 261 12 927 13 074 CONSOLIDATED STATEMENT OF CASH FLOWS Six months ended 30 June 2026 Six months ended 30 June 2025 Six months ended 30 June 2026 Six months ended 30 June 2025 PLN'000 EUR'000 Net cash flows from operating activities 386 959 297 043 91 002 70 376 Net cash flows from investing activities 103 107 (988 937) 24 248 (234 301) Net cash flows from financing activities (290 003) 1 059 605 (68 201) 251 044 Total net cash flows 200 063 367 711 47 049 87 119
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47 Financial Report of Wirtualna Polska Holding SA Group for the period of 6 months ended 3 0 June 2026 [ TRANSLATION ONLY ] The translation into EUR was made in accordance with The following principles: amounts presented in PLN as of 30 June 2026 were translated into EUR at the exchange rate of 4.2963 (the NBP exchange rate applicable as of 30 June 2026); amounts presented in PLN as of 31 December 2025 were translated into EUR at the exchange rate of 4.2267 (the NBP exchange rate applicable as of 31 December 2025); amounts presented in PLN for the six-month period ended 30 June 2026 were translated at the exchange rate of 4.2522 (the arithmetic mean of the NBP exchange rates applicable on the last day of each month of the first half of 2026); amounts presented in PLN for the six-month period ended 30 June 2025 were translated at the exchange rate of 4.2208 (the arithmetic mean of the NBP exchange rates applicable on the last day of each month of the first half of 2025).
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48 Financial Report of Wirtualna Polska Holding SA Group for the period of 6 months ended 3 0 June 2026 [ TRANSLATION ONLY ] MANAGEMENT BOARD’S STATEMENT The Management Board of Wirtualna Polska Holding SA declares that, to the best of its knowledge, the condensed interim consolidated and separate financial statements and the comparative data have been prepared in accordance with the applicable accounting p rinciples and give a true, fair and clear view of the assets and financial position of the Capital Group and the Issuer, as well as their financial results. Furthermore, the Management Board of Wirtualna Polska Holding SA declares that the report on the activities of the Issuer’s Capital Group presents a true and fair view of the development, achievements and position of the Issuer’s Capital Group, including a description of the principal threats and risks. The Management Board of Wirtualna Polska Holding SA also declares that the entity authorized to audit financial statements, which performed the review of the condensed interim consolidated and separate financial statements, was appointed in accordance with the applicable laws and that this entity and the statutory auditors who performed the review met the requirements necessary to issue an impartial and independent review report on the interim consolidated and separate financial statements, in accordance wi th the applicable laws and professional standards. Warsaw, 7 September 2026
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49 Financial Report of Wirtualna Polska Holding SA Group for the period of 6 months ended 3 0 June 2026 [ ONLY TRANSLATION ] CONDENSED INTERIM CONSOLIDATED FINANCIAL STATEMENTS OF WIRTUALNA POLSKA CAPITAL GROUP FOR THE SIX-MONTH PERIODS ENDED 30 JUNE 2026 Condensed Interim Consolidated Financial Statements of Wirtualna Polska Holding Group for the period of 6 months ending 30 June 2026
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50 Financial Report of Wirtualna Polska Holding SA Group for the period of 6 months ended 3 0 June 2026 [ TRANSLATION ONLY ] CONDENSED INTERIM CONSOLIDATED STATEMENT OF PROFIT OR LOSS AND OTHER COMPREHENSIVE INCOME PLN'000 Note Six months ended 30 June 2026 (unaudited) Six months ended 30 June 2025 (unaudited, adjusted) Three months ended 30 June 2026 (unaudited) Three months ended 30 June 2025 (unaudited, adjusted) Sales 10 1 163 861 912 768 579 375 540 815 Cost of goods sold (53 609) (59 827) (25 104) (32 033) Amortization and depreciation (147 188) (110 580) (73 589) (63 984) Materials and energy used (6 569) (6 510) (3 613) (3 655) External services 11 (598 386) (419 064) (303 545) (265 600) Salary and employee benefit expenses (378 828) (287 386) (195 826) (167 370) Capitalized development cost 63 063 39 767 34 764 22 582 Other costs related to operating activities 15 (28 267) (17 556) (12 091) (10 399) Other revenues related to operating activities 14 11 684 9 276 6 317 5 794 Operating profit 25 761 60 888 6 688 26 150 Finance income 16 11 001 5 530 14 821 4 244 Finance costs 16 (58 472) (43 869) (30 123) (29 105) Other income/loss (5 172) (3 606) (5 172) (3 606) Share in the profit/loss of investments accounted for using the equity method (8 453) 1 145 (6 924) (796) Gain on disposal of a subsidiary and an associate 28 27 642 - 27 642 - Profit before tax (7 693) 20 088 6 932 (3 113) Income tax 17 59 619 (16 927) 58 727 (6 143) Net profit 51 926 3 161 65 659 (9 256) Other comprehensive income/(losses) re-classifiable to profit and loss (taking into account the income tax impact of the item): 24 151 (8 114) 7 108 (3 789) Foreign exchange differences on translation of foreign units 24 151 (8 114) 7 108 (3 789) Other comprehensive income/(losses) non re- classifiable to profit and loss (taking into account the income tax impact of the item) (556) 563 (370) 563 Profit (loss) on assets measured at fair value through other comprehensive income (556) 563 (370) 563 Other comprehensive income 23 596 (7 551) 6 737 (3 226) Comprehensive income 75 522 (4 390) 72 397 (12 482) Net profit/loss attributable to: Equity holders of the Parent Company 45 747 (1 064) 62 617 (11 074) Non-controlling interests 6 180 4 225 3 043 1 818 Comprehensive income attributable to: Equity holders of the Parent Company 69 342 (8 615) 69 354 (14 300) Non-controlling interests 6 180 4 225 3 043 1 818 PLN'000 Note Six months ended 30 June 2026 (unaudited) Six months ended 30 June 2025 (unaudited) Three months ended 30 June 2026 (unaudited) Three months ended 30 June 2025 (unaudited) Net profit per share (in PLN) 18 1,56 (0,04) 2,18 (0,37)
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51 Financial Report of Wirtualna Polska Holding SA Group for the period of 6 months ended 3 0 June 2026 [ TRANSLATION ONLY ] CONDENSED INTERIM CONSOLIDATED STATEMENT OF FINANCIAL POSITION PLN'000 Note As of 30 June 2026 (unaudited) As of 31 December 2025 (adjusted) Non-current assets Property, plant and equipment 20 146 162 155 169 Goodwill 21 1 094 951 1 081 283 Intangible assets 20 1 190 801 1 207 138 Other financial assets 27 973 28 215 Investments accounted for using the equity method 79 088 87 540 Non-current programming assets 20 30 905 29 087 Long-term receivables 2 736 4 734 Deferred tax assets 17 40 046 14 775 Total non-current assets 2 612 662 2 607 941 Current assets Current programming assets 20 758 462 Trade receivables and other non-financial assets 22 705 527 555 342 Short-term financial assets 14 111 15 783 Income tax receivables 70 628 8 060 Inventory 21 120 31 511 Cash and cash equivalents 604 228 400 543 Current assets other than non-current assets held for sale 1 416 372 1 011 701 Assets held for sale 28 - 211 598 Total current assets 1 416 372 1 223 298 TOTAL ASSETS 4 029 033 3 831 241 Equity Equity attributable to equity holders of the Parent Company Share capital 23 1 489 1 489 Supplementary capital 340 674 340 674 Treasury shares (226 671) - Other reserves 352 328 (1 334) Retained earnings 222 786 540 274 Equity attributable to equity holders of the Parent Company 690 606 881 103 Non-controlling interests 55 538 55 261 Equity 746 144 936 364 Long-term liabilities Bank loans and other loans 25 1 680 100 1 712 989 Leasing liabilities due to the right of use the assets 25 54 992 65 242 Other long-term liabilities 27 31 395 28 883 Provision for employee benefits 26 1 025 1 023 Deferred tax liabilities 17 223 325 204 900 Total long-term liabilities 1 990 837 2 013 037 Short-term liabilities Bank loans and other loans 25 125 631 71 722 Leasing liabilities due to the right of use the assets 25 26 148 32 979 Trade and other payables 27 1 121 525 702 756 Other provisions 26 4 154 4 207 Current income tax liabilities 14 594 34 830 Current liabilities other than liabilities included in disposal groups held for sale 1 292 052 846 494 Liabilities included in disposal groups held for sale 28 - 35 346 Total current liabilities 1 292 052 881 840 Total liabilities 3 282 890 2 894 877 TOTAL EQUITY AND LIABILITIES 4 029 033 3 831 241
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52 Financial Report of Wirtualna Polska Holding SA Group for the period of 6 months ended 3 0 June 2026 [ ONLY TRANSLATION ] CONDENSED INTERIM CONSOLIDATED STATEMENT OF CHANGES IN EQUITY PLN'000 Note Share capital Supplementary capital Treasury shares Other reserves Retained earnings Equity attributable to equity holders of the Parent Company Non- controlling interests Equity Equity as of 01 January 2026 1 489 340 674 - (1 334) 540 274 881 103 55 261 936 364 Net profit/(loss) - - - - 45 747 45 747 6 180 51 926 Other comprehensive income - - - 23 596 - 23 596 - 23 596 Total comprehensive income - - - 23 596 45 747 69 342 6 180 75 522 Option scheme 24 - - - 563 - 563 - 563 Dividend payment for owners of the parent company - - - - (33 731) (33 731) - (33 731) Dividends paid to shareholders of the Parent Company - - - - - - (5 903) (5 903) Creation of a reserve for the buy-back of shares - - - 329 504 (329 504) - - - Acquisition of own shares - - (226 671) - - (226 671) - (226 671) Changes in equity due to transactions with owners - - (226 671) 330 067 (363 235) (259 839) (5 903) (265 742) Equity as of 30 June 2026 (unaudited) 1 489 340 674 (226 671) 352 328 222 786 690 606 55 538 746 144 PLN'000 Note Share capital Supplementary capital Treasury shares Other reserves Retained earnings Equity attributable to equity holders of the Parent Company Non- controlling interests Equity Equity as at 1 January 2025 1 481 337 621 - (22 765) 652 892 969 229 43 216 1 012 445 Net profit/(loss) - - - (25 267) (25 267) 12 045 (13 222) Other comprehensive income - - - (1 540) - (1 540) - (1 540) Total comprehensive income - - - (1 540) (25 267) (26 808) 12 045 (14 763) Option scheme 24 8 3 053 - 1 126 - 4 187 - 4 187 Dividends paid to shareholders of the Parent Company - - - - (65 506) (65 506) - (65 506) Creation of a reserve for the buy-back of shares - - - 21 845 (21 845) - - - Changes in equity due to transactions with owners 8 3 053 - 22 971 (87 351) (61 318) - (61 318) Equity as at 31 December 2025 (adjusted) 1 489 340 674 - (1 334) 540 274 881 103 55 261 936 364
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53 Financial Report of Wirtualna Polska Holding SA Group for the period of 6 months ended 3 0 June 2026 [ ONLY TRANSLATION ] PLN'000 Note Share capital Supplementary capital Treasury shares Other reserves Retained earnings Equity attributable to equity holders of the Parent Company Non- controlling interests Equity Equity as at 1 January 2025 1 481 337 621 - (22 765) 652 892 969 229 43 216 1 012 445 Net profit/(loss) - - - - (1 064) (1 064) 4 225 3 161 Other comprehensive income - - - (7 551) - (7 551) - (7 551) Total comprehensive income - - - (7 551) (1 064) (8 615) 4 225 (4 390) Option scheme 24 8 3 053 - 563 - 3 624 - 3 624 Dividends paid to shareholders of the Parent Company - - - - (65 506) (65 506) - (65 506) Creation of a reserve for the buy-back of shares - - - 21 845 (21 845) - - - Changes in equity due to transactions with owners 8 3 053 - 22 408 (87 351) (61 882) - (61 882) Equity as at 30 June 2025 (unaudited, adjusted) 1 489 340 674 - (7 908) 564 477 898 732 47 441 946 173
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54 Financial Report of Wirtualna Polska Holding SA Group for the period of 6 months ended 3 0 June 2026 [ONLY TRANSLATION] Raport finansowy Grupy Kapitałowej Wirtualna Polska Holding SA za okres 3 i 6 miesięcy zakończonych 30 czerwca 202 6 roku CONDENSED INTERIM CONSOLIDATED STATEMENT OF CASH FLOWS PLN'000 Note Six months ended 30 June 2026 (unaudited) Six months ended 30 June 2025 (unaudited, adjusted) Cash flows from operating activities Profit before tax (7 693) 20 088 Adjustments: 430 613 306 907 Depreciation and amortization 147 188 110 580 Payments for programming assets (13 018) (4 638) Gains/(losses) on disposal, write-off and remeasurement of property, plant and equipment, intangible assets and programming assets 220 (23) Finance costs 58 472 45 084 Share in profit/(loss) of investments accounted for using the equity method 8 453 (1 145) Other non-operating gains/(losses) 5 172 3 606 Finance income from foreign exchange differences (4 245) (4 034) Gain on disposal of a subsidiary and an associate (27 642) - Employee stock option plan expense 563 563 Other adjustments 9 471 (4 119) Change in working capital Change in trade receivables and other current assets 33 (153 192) (29 270) Change in inventories 33 10 379 (328) Change in trade payables and other liabilities 33 388 843 189 962 Change in provisions 33 (53) 669 Cash generated from operations 422 921 326 995 Income tax paid (38 964) (33 292) Income tax refund 3 002 3 340 Net cash flows from operating activities 386 959 297 043 Cash flows from investing activities Proceeds from sale of property, plant and equipment 283 402 Acquisition of intangible assets 20 (89 570) (64 003) Acquisition of property, plant and equipment 20 (14 360) (16 075) Repayment of liabilities related to business acquisitions - (22 099) Acquisition of shares in subsidiaries (less cash and cash equivalents acquired) 33 - (877 093) Repayment of loans granted and investment receivables 417 875 Acquisition of shares in investments accounted for using the equity method - (9 840) Proceeds from sale of shares 192 952 - Acquisition of other financial assets - (1 104) Cash received from the entity held for sale 12 772 - Other 613 - Net cash flows from investing activities 103 107 (988 937) Cash flows from financing activities Proceeds from share capital increase - 3 061 Purchase of treasury shares (226 671) - Bank loans and borrowings received 25 225 860 1 145 544 Repayment of lease liabilities (19 113) (12 545) Payment of bank commissions (3 457) (9 780) Interest paid (53 690) (40 104) Repayment of bank loans and borrowings 25 (212 030) (26 571) Dividends paid to non-controlling shareholders (902) - Net cash flows from financing activities (290 003) 1 059 605 Net cash flows, total 200 063 367 711 Effect of exchange rate changes on cash and cash equivalents 3 622 (1 771) Change in cash and cash equivalents 203 685 365 940 Cash and cash equivalents at beginning of period 400 543 258 178 Cash and cash equivalents at end of period 604 228 624 118
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55 Financial Report of Wirtualna Polska Holding SA Group for the period of 6 months ended 3 0 June 2026 [ONLY TRANSLATION] Raport finansowy Grupy Kapitałowej Wirtualna Polska Holding SA za okres 3 i 6 miesięcy zakończonych 30 czerwca 202 6 roku NOTES TO THE CONDENSED INTERIM CONSOLIDATED FINANCIAL STATEMENTS 1. GENERAL INFORMATION Wirtualna Polska Holding SA Capital Group (the “Group”, the “Capital Group”, the “Wirtualna Polska Holding Group”) consists of Wirtualna Polska Holding SA (the “Company”, the “parent company”, “Wirtualna Polska Holding”) and its 41 subsidiaries subject to consolidation. The parent company is registered in Poland and its registered office is located in Warsaw at Żwirki i Wigury 16. Wirtualna Polska Holding and the remaining entities of the Capital Group were established for an indefinite period. Wirtualna Polska Group is a technology holding company. Its two main areas of activity are media, advertising and subscription operations, as well as operations in the travel market (primarily as an intermediary in the sale of package holidays). The Group owns the WP Homepage, operates specialist thematic websites and offers online subscription products (Audioteka, Pilot WP, Patronite). In the travel industry, the Group operates through entities such as Wakacje.pl, Invia Group, Szallas Group and Nocowanie.pl. In addition, the Group also operates in the financial e-commerce sector through two companies — Superauto.pl and Totalmoney.pl. 2. DESCRIPTION OF SIGNIFICANT ACCOUNTING POLICIES BASIS OF PREPARATION These condensed interim financial statements have been prepared on a going concern basis in accordance with IAS 34 “Interim Financial Reporting” (“IAS 34”). The accounting policies applied in preparing the condensed interim consolidated financial statements for six-month periods ended 30 June 2026 are consistent with those applied in preparing the consolidated financial statements for the year ended 31 December 2025, except for new and amended standards. The financial statements for the year ended 31 December 2025 were prepared in accordance with IFRS applicable in the European Union for the financial year ended 31 December 2025. The consolidated statement of financial position as of 30 June 2026 and the consolidated statements of profit or loss and other comprehensive income, cash flows and changes in equity for the six-month periods ended 30 June 2026 have not been audited by a statutory auditor. The consolidated financial statements as of 31 December 2025 and for the twelve-month period ended 31 December 2025 were audited by a statutory auditor, who issued an unqualified opinion. These condensed interim consolidated financial statements should be read in conjunction with the audited annual consolidated financial statements for 2025. NEW AND AMENDED STANDARDS AND INTERPRETATIONS In these interim condensed consolidated financial statements, the Group applied The following amendments to standards and interpretations approved by the European Union with an effective date for annual periods beginning on or after 1 January 2026: IFRS 9 and IFRS 7: Amendments to the Classification and Measurement of Financial Instruments In May 2024, the IASB issued amendments to IFRS 9 and IFRS 7 covering: a) clarification of the requirements for the recognition and derecognition of financial assets and financial liabilities. In particular, a financial liability is derecognized on the “settlement date”. The amendments also introduce an accounting policy option to derecognize financial liabilities settled through an electronic payment system before the settlement date, provided that specified conditions are met;
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56 Financial Report of Wirtualna Polska Holding SA Group for the period of 6 months ended 3 0 June 2026 [ONLY TRANSLATION] Raport finansowy Grupy Kapitałowej Wirtualna Polska Holding SA za okres 3 i 6 miesięcy zakończonych 30 czerwca 202 6 roku b) additional guidance on how to assess the contractual cash flow characteristics of financial assets with terms linked to environmental, social and governance (ESG) matters and other similar features; c) additional clarification regarding assets with non -recourse features and contractually linked instruments; and; d) new disclosure requirements for financial assets and financial liabilities with contingent features and equity instruments measured at fair value through other comprehensive income; Annual Improvements to IFRS Accounting Standards – Volume 11 In July 2024, the IASB issued nine narrow-scope amendments as part of its periodic review of IFRS Accounting Standards. The amendments include clarifications, simplifications, corrections and changes intended to improve consistency in The following standards: IFRS 1 First-time Adoption of International Financial Reporting Standards, IFRS 7 Financial Instruments: Disclosures and the accompanying Guidance on Implementing IFRS 7, IFRS 9 Financial Instruments, IFRS 10 Consolidated Financial Statements and IAS 7 Statement of Cash Flows. Amendments to IFRS 9 and IFRS 7: Contracts Referencing Nature-dependent Electricity In December 2024, the IASB issued amendments to IFRS 9 and IFRS 7 – Contracts Referencing Nature - dependent Electricity. The amendments apply only to contracts referencing nature-dependent electricity and: a) clarify when contracts referencing nature-dependent electricity may be excluded from the scope of IFRS 9 as contracts entered into for “own use”; b) amend the requirements for designating a hedged item in cash flow hedging relationships involving contracts within the scope of the amendments; and c) introduce new disclosure requirements to enable investors to understand the effect of these contracts on an entity’s financial performance and cash flows. The application of the above amendments did not have a material impact on the Group’s accounting policies, financial results or financial position in the current reporting period. The Group did not elect to early adopt any standard, interpretation or amendment that had been issued but was not yet effective under European Union regulations. Standards and interpretations issued but not yet effective:. • IFRS 18 Presentation and Disclosures in Financial Statements; In April 2024, the International Accounting Standards Board published a new standard, IFRS 18 “Presentation and Disclosures in Financial Statements” (hereinafter: “IFRS 18”), which will replace IAS 1 “Presentation of Financial Statements”. IFRS 18 will apply to annual reporting periods beginning on or after 1 January 2027. The analysis of the impact of the implementation of IF RS 18 is ongoing. The Company expects that the new standard will primarily affect the presentation and extent of disclosures of financial information, without having a material impact on the financial results presented. • IFRS 19 Subsidiaries without Public Accountability: Disclosures; • Amendments to IFRS 19 Subsidiaries without Public Accountability: Disclosures; • Amendments to IAS 21 The Effects of Changes in Foreign Exchange Rates – Translation to a Hyperinflationary Presentation Currency; • Amendments relating to the fair value measurement option in IAS 28 Investments in Associates and Joint Ventures; and • IFRS 20 Regulatory Assets and Regulatory Liabilities.
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57 Financial Report of Wirtualna Polska Holding SA Group for the period of 6 months ended 3 0 June 2026 [ONLY TRANSLATION] Raport finansowy Grupy Kapitałowej Wirtualna Polska Holding SA za okres 3 i 6 miesięcy zakończonych 30 czerwca 202 6 roku CORRECTIONS OF PRIOR-PERIOD ERRORS AND RESTATEMENT OF COMPARATIVE INFORMATION In the current reporting period ended 30 June 2026, the Group identified The following errors, the impact of which on the Group’s consolidated financial statements as of 31 December 2025 has been recognized retrospectively in these condensed interim consolidated financial statements: • Changes in German corporate income tax legislation In July 2025, Germany enacted an investment package (the so -called “Wachstumsbooster” / Investitionssofortprogramm), introducing amendments to the German Corporate Income Tax Act (Körperschaftsteuergesetz) and providing for a gradual reduction in the corpo rate income tax rate (Körperschaftsteuer) from 15% to 10%. The rate will be reduced by one percentage point annually, beginning on 1 January 2028, until the target rate is reached in 2032. Consequently, the aggregate tax burden on German corporations, including corporate income tax, solidarity surcharge and trade tax (Gewerbesteuer), will decrease from approximately 30% to approximately 25%. The legislation was enacted and officially promulgated in 2025 and therefore, in accordance with IAS 12 Income Taxes, met the criteria for enacted or substantively enacted legislation as of 31 December 2025. In the course of preparing the interim consolidated financial statements for the six -month period ended 30 June 2026, the Group reassessed the impact of the enactment of the above legislation on the deferred tax balances recognized by its German subsidiari es as of 30 June 2026 and 31 December 2025. The Group concluded that the measurement of the deferred tax liability should have been updated in 2025. The deferred tax liability recognized in respect of intangible assets, including those recognized as part of the accounting for business combinations involving German subsidiaries, was remeasured using the tax rates applicable in the respective future peri ods in which the temporary differences are expected to reverse, i.e. as the intangible assets are amortized for tax purposes. The application of the lower future tax rates resulted in a decrease in the carrying amount of the deferred tax liability. The effect of this remeasurement was recognized in the financial result for 2025. • Deferred tax recognized as part of the accounting for the acquisition of Invia Group During the preparation of the quarterly report, the Group identified an error in the amount of the deferred tax liability recognized as part of the accounting for the acquisition of Invia Group, which resulted in goodwill being overstated by PLN 10.6 million. The table below presents the impact of the identified corrections of prior -period errors on the consolidated statement of financial position as of 31 December 2025: PLN'000 As of 31 December 2025 Adjustment As of 31 December 2025 (adjusted) Non-current assets Goodwill 1 091 915 (10 632) 1 081 283 Total non-current assets 2 618 575 (10 632) 2 607 943 TOTAL ASSETS 3 841 873 (10 632) 3 831 241 Equity Equity attributable to shareholders of the parent company Other reserves (1 312) (22) (1 334) Retained earnings 531 423 8 851 540 274 Equity attributable to shareholders of the parent company 872 274 8 829 881 103 Equity 927 535 8 829 936 364 Non-current liabilities Deferred income tax liabilities 224 361 (19 461) 204 900 Total non-current liabilities 2 032 498 (19 461) 2 013 037 Total liabilities 2 914 338 (19 461) 2 894 877 TOTAL EQUITY AND LIABILITIES 3 841 873 (10 632) 3 831 241
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58 Financial Report of Wirtualna Polska Holding SA Group for the period of 6 months ended 3 0 June 2026 [ONLY TRANSLATION] Raport finansowy Grupy Kapitałowej Wirtualna Polska Holding SA za okres 3 i 6 miesięcy zakończonych 30 czerwca 202 6 roku Compared with the information presented in the Group’s consolidated financial statements as of 31 December 2025, The following presentational change was also made to ensure compliance with IFRS: • Provision for unused annual leave In previous periods, the Group presented the provision for unused annual leave under Provisions for employee benefits. In the current year, the Group changed its presentation and now presents the provision under Trade and other payables. PLN'000 As of 31 December 2025 Adjustment As of 31 December 2025 (adjusted) Current liabilities Trade and other payables 694 244 8 512 702 756 Employee benefit provisions 8 512 (8 512) - Current liabilities not classified as held for sale 846 494 - 846 494 Total current liabilities 881 840 - 881 840 Total liabilities 2 914 338 - 2 914 338 TOTAL EQUITY AND LIABILITIES 3 841 873 - 3 841 873 PLN'000 Six months ended 30 June 2025 (unaudited) Adjustment Six months ended 30 June 2025 (unaudited, adjusted) Change in trade and other payables 188 607 1 355 189 962 Change in provisions 2 024 (1 355) 669 Net cash flows from operating activities 297 043 - 297 043 Net cash flows from investing activities (111 844) - (111 844) Net cash flows, total (988 937) - (988 937) Change in cash and cash equivalents 1 059 605 - 1 059 605 - Cash and cash equivalents at beginning of period 258 178 - 258 178 Cash and cash equivalents at end of period 624 118 - 624 118 • Offsetting foreign exchange gains and losses In previous periods, the Group presented foreign exchange gains and losses on a gross basis, with foreign exchange gains recognized in finance income and foreign exchange losses recognized in finance costs. In the current year, the Group changed its presen tation and offsets foreign exchange gains and losses, presenting the resulting net gain or loss in finance income or finance costs, respectively. PLN'000 Six months ended 30 June 2025 (unaudited) Adjustment Six months ended 30 June 2025 (unaudited, adjusted) Finance income 6 745 (1 215) 5 530 Finance costs (45 084) 1 215 (43 869) Profit before tax 20 088 - 20 088 Net profit 3 161 - 3 161 PLN'000 Three months ended 30 June 2025 (unaudited) Adjustment Three months ended 30 June 2025 (unaudited, adjusted) Finance income 4 128 116 4 244 Finance costs (28 989) (116) (29 105) Profit before tax (3 113) - (3 113) Net profit (9 256) - (9 256)
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59 Financial Report of Wirtualna Polska Holding SA Group for the period of 6 months ended 3 0 June 2026 [ONLY TRANSLATION] Raport finansowy Grupy Kapitałowej Wirtualna Polska Holding SA za okres 3 i 6 miesięcy zakończonych 30 czerwca 202 6 roku 3. APPROVAL OF THE CONSOLIDATED FINANCIAL STATEMENTS FOR PUBLICATION These condensed interim consolidated financial statements were approved for publication by the Management Board of Wirtualna Polska Holding SA on 7 September 2026. 4. SIGNIFICANT VALUES BASED ON JUDGEMENTS AND ESTIMATES The preparation of the consolidated financial statements in accordance with EU IFRS requires the use of judgements, estimates and assumptions that affect the reported amounts of assets and liabilities as well as revenues and expenses for the period. Estimates and judgements are subject to ongoing review and are based on historical experience and other factors, including expectations regarding future events that are considered reasonable under the circumstances. The Group makes estimates and assumptions concerning the future. By definition, the resulting accounting estimates will rarely equal the related actual results. No new significant accounting estimates or assumptions that had not occurred in the previous period arose during the first half year of 2026. The key assumptions concerning the future and other key sources of estimation uncertainty existing at the balance sheet date, which involve a significant risk of material adjustment to the carrying amounts of assets and liabilities within the next financial year, are discussed below. DETERMINATION OF THE VALUE OF TRADEMARKS AND OTHER INTANGIBLE ASSETS ARISING FROM BUSINESS COMBINATIONS As part of the accounting for acquired subsidiaries, the Group made significant estimates regarding the valuation of intangible assets such as trademarks, customer relationships, the WP homepage and WP e -mail service. The estimates were based on revenues and costs expected by the Group to be generated by the acquired subsidiaries. For trademarks, the Royalty Relief Method is applied. This method focuses on determining a hypothetical royalty fee that would be charged to the company for the use of the trademark if the company did not own it. For software valuation, the Replacement Cost Method is applied. Under this approach, the value of the asset is determined based on the cost of replacing it, assuming that the fair value of the asset should not exceed the cost of obtaining a substitute with comparable characteristics and functionality, reduced by the total amount corresponding to all forms of impairment (depreciation/amortization) incurred up to the valuation date. For customer relationships, the Multi-period Excess Earnings Method is applied. This method involves forecasting future revenues and costs associated with the intangible asset based on adjusted historical performance and the entity’s budget for the remaining useful life of the asset. Capital charges reflecting market rates of return on other employed assets are deducted from forecasted earnings, and the present value of the resulting earnings is determined using an appropriate discount rate. USEFUL LIVES OF PROPERTY, PLANT AND EQUIPMENT AND INTANGIBLE ASSETS The depreciation and amortization rates are determined based on the expected useful lives of property, plant and equipment and intangible assets. The Group reviews the adopted useful lives annually based on current estimates. In particular, with respect to the WP.pl trademark, the Group has assessed that the trademark has an indefinite useful life. The WP trademark is one of the most recognizable brands on the Polish market and has existed and operated continuously for more than 30 years. The brand is characterized by strong recognition, a strong reputation and sustained economic value that shows no signs of decline. Accordingly, pursuant to IAS 38, the Management Board considers the trademark to have an indefinite useful life and therefore it is not amortized. This decision was based on The following premises:
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60 Financial Report of Wirtualna Polska Holding SA Group for the period of 6 months ended 3 0 June 2026 [ONLY TRANSLATION] Raport finansowy Grupy Kapitałowej Wirtualna Polska Holding SA za okres 3 i 6 miesięcy zakończonych 30 czerwca 202 6 roku • No foreseeable limit to the period over which the brand is expected to be used – the WP trademark is a key element of the business strategy and there are no plans to discontinue or replace it. Moreover, the Group undertakes actions aimed at further strengthening and developing the brand. • Strong market position and reputation – the WP brand is one of the best-known media brands in Poland, as confirmed by market research and financial performance analysis. Brand recognition is not weakening; on the contrary, it is being strengthened through strategic investments in operations a nd marketing activities. • No foreseeable period of value decline – there are no indications that the WP brand will lose its usefulness in the foreseeable future. Changing market conditions and technological developments are adequately addressed through the continuous adaptation of the Group’s strategy. • Compliance with IAS 38 requirements – pursuant to paragraph 88 of IAS 38, intangible assets with indefinite useful lives are not amortized but are subject to annual impairment testing. The Group performs such tests in accordance with the standard’s requirements and the results do not indicate the need for impairment charges. After analyzing the above factors, the Group concluded that there is no foreseeable limit to the period over which the “WP.pl” trademark is expected to generate net cash inflows for the Group and therefore adopted an indefinite useful life for the “WP.pl” trademark. In each reporting period, the Group reviews whether events and circumstances continue to support the assessment of the indefinite useful life of the “WP.pl” trademark. If the assessment changes from indefinite to finite useful life, the effect is recognized as a change in accounting estimates. CAPITALIZATION OF COSTS As a technology entity, the Group continuously develops its websites and internal systems supporting business operations through its internal teams of IT experts and also carries out new projects aimed at meeting the needs of users of services provided by the Group. Development expenditures meeting capitalization criteria are recognized as intangible assets. When assessing whether capitalization criteria are met, the Group considers in particular: • the technical feasibility of completing the intangible asset so that it will be available for use or sale; • the intention to complete the intangible asset and use or sell it; • the ability to use or sell the intangible asset; • the manner in which the intangible asset will generate probable future economic benefits; • the availability of adequate technical, financial and other resources to complete development and to use or sell the intangible asset; • the ability to reliably measure expenditures attributable to the intangible asset during its development, The Group mainly capitalizes payroll costs related to investments in software and technology platform development. These projects include, among others, the development and enhancement of websites, e-mail services, mobile applications and e-commerce tools aimed at increasing the functionality and attractiveness of offered services. Currently, R&D activities focus mainly on: • improving advertising reach and efficiency; • development of artificial intelligence tools aimed at supporting editorial work and facilitating content creation; • process automation; • UX development, i.e. continuous improvement of user experience related to our products and services. Development costs recognized as expenses in the presented periods are not recognized as assets in subsequent periods. Capitalized development costs are measured at production cost based on incurred expenditures, including in particular employee costs together with related payroll charges attributable to employees engaged in a given project, costs of cooperating personnel, external service costs and other project costs. Development projects previously meeting capitalization criteria that are abandoned are written off to profit or loss at the moment the decision is made to discontinue the project. Projects in progress are regularly monitored for impairment.
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61 Financial Report of Wirtualna Polska Holding SA Group for the period of 6 months ended 3 0 June 2026 [ONLY TRANSLATION] Raport finansowy Grupy Kapitałowej Wirtualna Polska Holding SA za okres 3 i 6 miesięcy zakończonych 30 czerwca 202 6 roku ESTIMATION OF LIABILITIES RELATED TO LONG-TERM INCENTIVE PLANS The Group recognizes liabilities related to long-term incentive plans offered to management personnel within individual segments. The amount of the liability may vary depending on many factors, including the specific structure of the plan, estimated achievement level of performance targets defined in the plan, vesting period and number of participants. Costs of long-term incentive plans are recognized over the duration of the plan. IMPAIRMENT TESTS Goodwill and intangible assets with indefinite useful lives were subject to impairment testing as at 31 December 2025. Details of the test are described in Note 20 to the Group’s consolidated financial statements for 2025. In the Management Board’s opinion, additional indicators of impairment arose in the first half of 2026 for the Domestic Travel – Szallas Group and Financial Lead Generation (Totalmoney) CGUs. Accordingly, the impairment tests were updated as at 30 June 2026. The results of these tests did not indicate a need to recognise impairment losses for these CGUs. At the same time, in the Management Board’s opinion, no impairment indicators arose for the remaining CGUs in the first half of 2026 and therefore no updates of the remaining tests were performed. IMPAIRMENT ALLOWANCES FOR TRADE RECEIVABLES The Group recognizes impairment allowances based on expected lifetime credit losses for individual receivables portfolios. The Group performed a portfolio analysis of receivables based on the existing credit classification of counterparties and applied a simplified impairment matrix for individual aging buckets. The analysis was based on expected default rates determined using historical data and the Group’s expectations regarding recoverability of such receivables. ESTIMATION OF LIABILITIES RELATED TO ANNUAL REBATES IN THE ADVERTISING AND SUBSCRIPTIONS SEGMENT As part of cooperation with clients in the Advertising and Subscriptions segment, the Group grants annual rebates. Rebates are granted individually or collectively depending on achieved turnover, either in fixed amounts or as a percentage of turnover. During the year, the Group estimates liabilities related to annual rebates based on current turnover forecasts and recognizes them as a reduction of revenues for the given period. Annual rebates are treated as variable consideration and are recognized only to the extent that it is highly probable that a significant reversal of revenues will not occur. The final value of annual rebates becomes known after the end of the respective financial year. Liabilities related to accrued rebates amounted to PLN 31,684 thousand as at 30 June 2026 (PLN 34,089 thousand as at 31 December 2025). ESTIMATION OF RECEIVABLES RELATED TO ANNUAL BONUSES IN THE TRAVEL SEGMENT The Group makes significant estimates regarding revenue recognition related to annual rebates received from tour operators, which depend on achieving specified sales levels during a given settlement period. Annual rebates constitute variable consideration within the meaning of IFRS 15 “Revenue from Contracts with Customers” and are recognized as an adjustment to sales revenues in the period to which they relate, based on the best available estimate of the amount due to the Group. The estimate of the annual rebate amount is based, among others, on: • current sales performance versus thresholds specified in agreements with tour operators; • sales forecasts for the remaining part of the settlement period; • commercial terms arising from concluded agreements, including the structure of rebate thresholds.
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62 Financial Report of Wirtualna Polska Holding SA Group for the period of 6 months ended 3 0 June 2026 [ONLY TRANSLATION] Raport finansowy Grupy Kapitałowej Wirtualna Polska Holding SA za okres 3 i 6 miesięcy zakończonych 30 czerwca 202 6 roku The Group estimates the most likely amount of receivables taking into account the constraint on variable consideration, i.e. rebates are recognized only to the extent that it is highly probable that a significant reversal will not occur in the future. The final amount of annual rebates often becomes known only after the end of the respective financial year. Due to uncertainty related to the achievement of sales thresholds, the actual amount of received rebates may differ from the estimated amount as at the balance sheet date. Such differences are recognized in profit or loss in the period in which the final settlement occurs. At each balance sheet date, the Group reviews the adopted assumptions and updates estimates based on the most current sales data and changes in market conditions. Receivables related to rebates recognized as at 30 June 2026 amounted to PLN 36,215 thousand (PLN 25,654 thousand as at 31 December 2025). REVENUE RECOGNITION FOR AGENCY SALES OF CARS As part of the Consumer Finance segment’s operations, the Group sells goods both under an agency model, acting as an intermediary between the end customer and the supplier of the goods, and under a model in which it exercises full control over the sales process to the end customer. For each sales transaction, the Group assesses whether it acts as an agent or as a principal, considering in particular whether it controls the goods before they are transferred, bears responsibility for their delivery and is exposed to credit risk associated with the transaction. Where the Group acts as an agent, revenue is recognized in the amount of the commission received from the seller of the goods. Otherwise, revenue is recognized in the gross amount due from the end customer. ESTIMATION OF LIABILITIES RELATED TO CONTINGENT CONSIDERATION ARISING FROM BUSINESS COMBINATIONS Agreements concluded by the Group within acquisition activities often provide for additional contingent consideration for sold shares or businesses. Additional consideration is usually dependent on the financial or operating results of the acquired entities. The final amount of contingent consideration becomes known after the end of the contingent period and may differ from estimates adopted at the acquisition date. Changes in the fair value of contingent consideration resulting from additional information obtained by the acquirer after the acquisition date regarding facts and circumstances existing at the acquisition date are recognized as an adjustment to the purchase price if made within 12 months from the acquisition date as part of the finalization of provisional accounting. Changes in valuation resulting from deviations of financial or operating results from levels assumed at initial recognition are recognized in the statement of profit or loss and other comprehensive income. The Group analyzes the conditions necessary for payment of additional consideration each time based on IFRS 3 requirements and includes in the acquisition price only that part of contingent consideration that does not constitute remuneration for matters other than the transfer of ownership rights. Liabilities arising from employment obligations of sellers are not included in the acquisition price. DEFERRED TAX ASSET • Recoverability of deferred tax assets The Group recognizes a deferred tax asset to the extent that it is probable that sufficient taxable profit will be available in the future against which the asset can be utilized. The Management Board of the Parent Company prepared financial projections confirming that sufficiently high taxable profits will be generated in the future to enable the asset to be utilized. The financial model was developed based on market forecasts and the Management Board’s expectations. A deterioration in future taxable results could render this assumption no longer justified. The forecasts adopted are consistent with those used for impairment testing purposes, as described in Note 21 to the Group’s consolidated financial statements for 2025. Details of the deferred tax asset recognized are presented in Note 17 to these condensed interim consolidated financial statements of the Group.
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63 Financial Report of Wirtualna Polska Holding SA Group for the period of 6 months ended 3 0 June 2026 [ONLY TRANSLATION] Raport finansowy Grupy Kapitałowej Wirtualna Polska Holding SA za okres 3 i 6 miesięcy zakończonych 30 czerwca 202 6 roku VALUATION OF PUT OPTION LIABILITY RELATED TO NON-CONTROLLING INTERESTS Following initial recognition, liabilities arising from put options over non-controlling interests are measured at the amount representing the best current estimate of the discounted purchase price. These liabilities are presented as investment liabilities. Any changes in the value of these liabilities subsequent to initial recognition are recognized in profit or loss under “Other gains/losses”. As of 30 June 2026, the Company had a contingent liability arising from a put option to acquire the minority interest in UAB AMK. The liability is measured based on the company’s current and forecast financial performance and the multiple specified in the acquisition agreement. Details of the liability are presented in Note 27. FOREIGN EXCHANGE DIFFERENCES ON INTRAGROUP LOANS FORMING PART OF THE NET INVESTMENT IN A FOREIGN OPERATION Within the Group, intragroup (IC) loans are granted to foreign subsidiaries and are denominated in a currency other than the functional currency of either the lending entity or the borrowing entity. Management exercises judgement in assessing whether settlement of a particular loan is planned or likely to occur in the foreseeable future. Where, based on the contractual terms and the intentions and financial capacity of the parties, repayment of the loan is neither planned nor likely to occur in the foreseeable future, the loan is, in substance, an extension of the Group’s investment in the relevant foreign operation and is treated as part of the net investment in a foreign operation within the meaning of IAS 21 “The Effects of Changes in Foreign Exchange Rates” (paragraph 15). In making this judgement, Management considers, in particular, the absence of a fixed repayment schedule or a long and indefinite repayment period, the history of extending (rolling over) repayment dates, the subordinated nature of the financing within the capital structure of the foreign operation, as well as the Group’s policy of financing foreign subsidiaries in a manner similar to equity financing. Classification of a loan as part of the net investment in a foreign operation results in foreign exchange differences arising from the translation of such a loan being presented differently from those arising on standard monetary items. Foreign exchange differences on such loans are not recognised in profit or loss for the period but are recognised in other comprehensive income (OCI) and accumulated in a separate component of equity – the foreign currency translation reserve – in accordance with IAS 21.32–33, until the disposal (in whole or in part) of the relevant foreign operation. The disposal of an investment in a foreign operation results in the reclassification of the accumulated foreign exchange differences from equity to profit or loss, in accordance with IAS 21.48. Application of the above approach requires the judgement applied to be reassessed on an ongoing basis. If circumstances change in a manner indicating that repayment of the loan has become planned or likely to occur in the foreseeable future, the loan (or the relevant portion thereof) ceases to be treated as part of the net investment, and foreign exchange differences arising from that point onwards are recognised in profit or loss. 5. EXPLANATORY INFORMATION REGARDING SEASONALITY OF THE GROUP’S OPERATIONS Revenue generated by the Advertising and Subscription segment is seasonal, with revenue in the first and third quarters being lower than in the second and fourth quarters of a given year. Revenue generated by the Travel segment is highly seasonal, with the highest levels of revenue generated in the third quarter of a given year. The Group’s remaining revenue is not subject to significant seasonality.
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64 Financial Report of Wirtualna Polska Holding SA Group for the period of 6 months ended 3 0 June 2026 [ONLY TRANSLATION] Raport finansowy Grupy Kapitałowej Wirtualna Polska Holding SA za okres 3 i 6 miesięcy zakończonych 30 czerwca 202 6 roku The table below presents the revenue generated by each of the segments identified by the Group on a quarterly basis for the twelve-month period from 1 July 2025 to 30 June 2026. PLN'000 Three months ended 30 September 2025 (Q3 25) Three months ended 31 December 2025 (Q4 25) Three months ended 31 March 2026 (Q1 26) Three months ended 30 June 2026 (Q2 26) Revenues in segments: Advertisement and subscription 157 496 206 945 163 474 174 751 Tourism 489 956 287 983 349 859 335 518 Consumer finance 60 501 69 348 56 719 55 108 Other 14 289 14 336 14 434 13 998 Total 722 241 578 613 584 486 579 375 6. INFORMATION ON OPERATING SEGMENTS The Management Board identified three main operating segments: Travel (intermediation in the sale of domestic and outbound travel services), Advertising and Subscriptions (activities related to the provision of advertising services, subscription services and advertising sales), and Consumer Finance (activities generating revenues from intermediation in obtaining financing and online car sales). In addition, the “Other” segment was identified, comprising the Group’s activities that do not meet the criteria for separate disclosure (sale of architectural designs and generation of green electricity). Six months ended 30 June 2026 (unaudited) Advertisement and subscription Tourism Consumer finance Other Inter-segment transactions Total Sales revenues 343 887 685 407 112 292 28 452 (6 176) 1 163 861 Sales to external customers 338 187 685 390 111 832 28 452 - 1 163 861 including cash revenues 330 769 685 377 111 827 28 432 - 1 156 404 Sales between segments 5 700 17 459 - - 6 176 External services (142 518) (435 388) (28 028) (4 517) 12 065 (598 386) Salary and employee benefit expenses and capitalized development cost (115 590) (166 159) (26 631) (7 384) - (315 764) Adjusted EBITDA 94 985 87 261 17 180 3 214 - 202 640 Six months ended 30 June 2025 (unaudited) Advertisement and subscription Tourism Consumer finance Other Inter- segment transactions Total Sales revenues 331 202 444 326 116 611 26 519 (5 890) 912 768 Sales to non-related parties 325 391 444 251 116 607 26 519 - 912 768 including cash revenues 316 324 444 248 116 515 26 481 - 903 568 Sales between segments 5 811 75 4 - - 5 887 External services (133 211) (261 774) (29 272) (4 037) 9 230 (419 064) Salary and employee benefit expenses and capitalized development cost (109 643) (105 668) (26 198) (6 110) - (247 619) Adjusted EBITDA 111 026 77 854 15 623 3 203 - 207 706 The Management Board analyses segment results only up to the level of adjusted EBITDA, as described in Note 12 to these financial statements. The definition of adjusted EBITDA and its reconciliation to profit before tax are presented in Note 12. The Management Board does not analyze operating segments in terms of their assets or liabilities. The Group’s operating segments are presented in a manner consistent with the internal reporting provided to the Management Board of the Parent Company, which is the chief operating decision-maker. Financial data prepared
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65 Financial Report of Wirtualna Polska Holding SA Group for the period of 6 months ended 3 0 June 2026 [ONLY TRANSLATION] Raport finansowy Grupy Kapitałowej Wirtualna Polska Holding SA za okres 3 i 6 miesięcy zakończonych 30 czerwca 202 6 roku for management reporting purposes is based on the same accounting policies as those applied in preparing the Group’s consolidated financial statements. 7. GROUP STRUCTURE The structure of the Group and changes therein are described in detail in section 2 of the Management Board’s report on the activities of the Capital Group, which constitutes an integral part of this report. 8. FACTORS AND EVENTS HAVING A SIGNIFICANT IMPACT ON THE GROUP’S OPERATIONS AND FINANCIAL RESULTS Factors and events having a significant impact on the Group’s operations and financial results are described in detail in section 3 of the Management Board’s report on the activities of the Capital Group, which constitutes an integral part of this interim report. 9. SIGNIFICANT AGREEMENTS AND EVENTS THAT OCCURRED IN THE FIRST HALF YEAR OF 2026 Significant agreements and events that occurred in the first half of 2026 are described in detail in Section 5 of the Management Board’s Report on the Activities of the Capital Group, which forms an integral part of this interim report. 10. REVENUE FROM SALES PLN'000 Six months ended 30 June 2026 (unaudited) Six months ended 30 June 2025 (unaudited) Three months ended 30 June 2026 (unaudited) Three months ended 30 June 2025 (unaudited) Cash revenues in segments: 1 156 404 903 568 575 674 535 414 Advertisement and subscription 330 769 316 324 171 051 164 203 Tourism 685 377 444 248 335 518 296 511 Consumer finance 111 827 116 515 55 108 60 346 Other 28 432 26 481 13 997 14 355 Sales of services in barter in Advertisement and subscription segment 7 456 9 200 3 700 5 401 Total 1 163 861 912 768 579 375 540 815 PLN’000 Six months ended 30 June 2026 (unaudited) Six months ended 30 June 2025 (unaudited) Three months ended 30 June 2026 (unaudited) Three months ended 30 June 2025 (unaudited) Sales of services in cash 1 094 932 840 132 547 418 502 601 Sales of goods in cash 61 473 63 436 28 256 32 809 Sales of services in barter 7 456 9 200 3 700 5 405 Total 1 163 861 912 768 579 375 540 815 PLN’000 Six months ended 30 June 2026 (unaudited) Six months ended 30 June 2025 (unaudited) Three months ended 30 June 2026 (unaudited) Three months ended 30 June 2025 (unaudited) Domestic sales (Poland) 737 463 698 845 371 303 351 531 Foreign sales 426 398 213 923 208 072 189 284 European Union 402 047 204 339 195 587 180 582 Non-EU 24 351 9 584 12 485 8 702 Total 1 163 861 912 768 579 375 540 815
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66 Financial Report of Wirtualna Polska Holding SA Group for the period of 6 months ended 3 0 June 2026 [ONLY TRANSLATION] Raport finansowy Grupy Kapitałowej Wirtualna Polska Holding SA za okres 3 i 6 miesięcy zakończonych 30 czerwca 202 6 roku PLN’000 Six months ended 30 June 2026 (unaudited) Six months ended 30 June 2025 (unaudited) Poland 737 463 698 845 Germany 189 040 69 924 Czech Republic 106 145 60 613 Hungary 41 493 31 671 Lithuania 10 416 7 228 Romania 6 902 9 458 Other 72 402 35 029 Total 1 163 861 912 768 The Group has a well-diversified portfolio of customers and suppliers. Neither in the first half of 2026 nor in the first half of 2025 did any counterparty account for 10% or more of the Group’s consolidated revenue. Accordingly, in the Management Board’s opinion, there is no risk related to excessive revenue concentration or credit risk. 11. EXTERNAL SERVICES The table below presents the costs of external services incurred by the Group in the first half of 2026 and 2025. PLN'000 Six months ended 30 June 2026 (unaudited) Six months ended 30 June 2025 (unaudited) Sales intermediation costs and sales commissions 158 871 118 219 Traffic acquisition costs and other marketing expenses 239 554 143 694 Other 199 961 157 151 External services 598 386 419 064 The “Other” category primarily comprises consulting and advisory expenses, costs incurred in acquiring content used in the Group’s advertising and subscription activities, as well as IT-related expenses.
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67 Financial Report of Wirtualna Polska Holding SA Group for the period of 6 months ended 3 0 June 2026 [ONLY TRANSLATION] Raport finansowy Grupy Kapitałowej Wirtualna Polska Holding SA za okres 3 i 6 miesięcy zakończonych 30 czerwca 202 6 roku 12. EBITDA AND ADJUSTED EBITDA The Group’s EBITDA is calculated as operating profit presented in the consolidated statement of profit or loss and other comprehensive income increased by depreciation and amortization (excluding amortization of acquired program assets), whereas the Group’s adjusted EBITDA is calculated as EBITDA adjusted for events including, among others: transaction costs related to acquisitions and restructuring, result on barter transactions, revaluation of non- current assets, goodwill impairment and costs of management option programs. EBITDA and adjusted EBITDA are presented because, in the Group’s opinion, they constitute useful measures of operating performance. EBITDA and adjusted EBITDA are not measures defined under IFRS and should not be treated as alternatives to IFRS- defined profit/(loss) categories, measures of operating performance or measures of cash flows from operating activities under IFRS. They should also not be treated as liquidity indicators. PLN'000 Six months ended 30 June 2026 (unaudited) Six months ended 30 June 2025 (unaudited) Three months ended 30 June 2026 (unaudited) Three months ended 30 June 2025 (unaudited) Profit before taxation (7 693) 20 088 6 932 (3 113) Share in losses of investments valued using the equity method and dividends from associated entities (8 453) 1 145 (6 924) (796) Financial costs (58 472) (43 869) (30 123) (29 105) Financial revenues 11 001 5 530 14 821 4 244 Other non-operating income/loss (5 172) (3 606) (5 172) (3 606) Profit on sale of an associate and subsidiary 27 642 - 27 642 - Operating profit 25 761 60 888 6 688 26 150 Depreciation and amortization of property, plant and equipment and intangible assets, excluding amortization of programming assets (142 957) (106 486) (71 424) (61 911) EBITDA 168 718 167 374 78 112 88 061 Adjustments, including: Restructuring and transaction costs - external services (20 457) (30 282) (16 209) (25 964) Restructuring and transaction costs - remuneration (9 212) (7 556) (7 288) (6 291) Restructuring and transaction costs - other operating costs and revenues (3 036) (1 160) (1 798) (804) Costs of employee options program (563) (563) (282) (281) Net result from barter transaction settlements (434) (794) 110 (430) Write-down and liquidation of non-financial assets (220) 23 136 (43) Adjusted EBITDA 202 640 207 706 103 442 121 874
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68 Financial Report of Wirtualna Polska Holding SA Group for the period of 6 months ended 3 0 June 2026 [ONLY TRANSLATION] Raport finansowy Grupy Kapitałowej Wirtualna Polska Holding SA za okres 3 i 6 miesięcy zakończonych 30 czerwca 202 6 roku 13. ADJUSTED NET PROFIT The Group’s adjusted net profit is calculated as net profit adjusted for events including, among others: transaction costs related to acquisitions and restructuring, settlement results on barter transactions, revaluation of non-current assets, costs of management option programs and goodwill impairment, as well as costs recognized in connection with the refinancing of the Group’s indebtedness and the remeasurement of liabilities related to the acquisition of non-controlling interests, together with the tax effect of these transactions on the Group’s result. Adjusted net profit is not a measure defined under IFRS and should not be treated as an alternative to IFRS-defined profit/(loss) categories, a measure of operating performance or a measure of cash flows from operating activities under IFRS. It should also not be treated as a liquidity indicator. PLN'000 Six months ended 30 June 2026 (unaudited) Six months ended 30 June 2025 (unaudited) Three months ended 30 June 2026 (unaudited) Three months ended 30 June 2025 (unaudited) Net profit 51 926 3 161 65 659 (9 256) Adjustments, including: Restructuring and transaction costs - external services (20 457) (30 282) (16 209) (25 964) Restructuring and transaction costs - remuneration (9 212) (7 556) (7 288) (6 291) Restructuring and transaction costs - other operating costs and revenues (3 036) (1 160) (1 798) (804) Costs of employee options program (563) (563) (282) (281) Net result from barter transaction settlements (434) (794) 110 (430) Profit on the sale of e subsidiary or an associated company 27 642 - 27 642 - Write-down and liquidation of non-financial assets (220) 23 136 (43) Currency exchange differences - loans - IC 8 654 - 8 654 - Other income / loss (5 172) (3 606) (5 172) (3 606) Other adjustments - - - Income tax adjustment 71 950 7 556 70 371 6 371 Adjusted net profit (17 225) 39 543 (10 505) 21 792 14. OTHER OPERATING INCOME The table below presents other operating income recognized by the Group in the first half of 2026 and 2025. PLN'000 Six months ended 30 June 2026 (unaudited) Six months ended 30 June 2025 (unaudited) Three months ended 30 June 2026 (unaudited) Three months ended 30 June 2025 (unaudited) Revenue from grants 1 614 1 425 652 643 Expiry and forgiveness of liabilities 4 383 3 762 3 215 2 977 Currency exchange differences from operating activities 892 719 245 176 Gain on disposal of non-financial assets 196 180 28 97 Repayment of receivables previously written off - 13 - 6 Revaluation of provisions value - 94 - 44 Contractual penalties and damages 867 - 249 - Auxiliary services 1 355 - 367 - Other 2 377 3 083 1 560 1 851 Total 11 684 9 276 6 317 5 794
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69 Financial Report of Wirtualna Polska Holding SA Group for the period of 6 months ended 3 0 June 2026 [ONLY TRANSLATION] Raport finansowy Grupy Kapitałowej Wirtualna Polska Holding SA za okres 3 i 6 miesięcy zakończonych 30 czerwca 202 6 roku 15. OTHER OPERATING EXPENSES The table below presents other operating expenses incurred by the Group in the first half of 2026 and 2025. PLN’000 Six months ended 30 June 2026 (unaudited) Six months ended 30 June 2025 (unaudited) Three months ended 30 June 2026 (unaudited) Three months ended 30 June 2025 (unaudited) Representation and other costs by type, including: 6 027 6 725 2 957 3 726 Representation 1 767 1 437 1 056 1 003 Other costs by type 4 260 5 288 1 901 2 723 Revaluation of receivables 5 335 1 234 945 1 059 Taxes and charges 9 850 6 750 5 009 4 154 Penalties, fines, compensations 1 451 441 1 294 276 Currency exchange differences from operating activities - 485 - (98) Revaluation of provisions 92 59 (90) 59 Revaluation and liquidation of non-financial assets 35 145 16 130 Loss on disposal of non-financial assets 381 12 (124) 10 Other 5 096 1 705 2 085 1 083 Total 28 267 17 556 12 091 10 399 16. FINANCIAL INCOME AND FINANCE COSTS The table below presents financial income earned by the Group. PLN'000 Six months ended 30 June 2026 (unaudited) Six months ended 30 June 2025 (unaudited, adjusted) Three months ended 30 June 2026 (unaudited) Three months ended 30 June 2025 (unaudited, adjusted) Interest income 2 170 2 415 1 259 1 549 Currency exchange differences 4 245 2 819 9 096 2 537 Other 4 586 296 4 466 158 Total 11 001 5 530 14 821 4 244 The table below presents finance costs incurred by the Group. PLN’000 Six months ended 30 June 2026 (unaudited) Six months ended 30 June 2025 (unaudited, adjusted) Three months ended 30 June 2026 (unaudited) Three months ended 30 June 2025 (unaudited, adjusted) Interests and commissions 58 206 43 601 29 997 28 939 Unwinding of the discount on investment liabilities - 128 - 84 Other 266 140 126 82 Total 58 472 43 869 30 123 29 105 PLN’000 Six months ended 30 June 2026 (unaudited) Six months ended 30 June 2025 (unaudited) Three months ended 30 June 2026 (unaudited) Three months ended 30 June 2025 (unaudited) Revaluation of other financial assets (5 172) (3 606) (5 172) (3 606) Total (5 172) (3 606) (5 172) (3 606)
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70 Financial Report of Wirtualna Polska Holding SA Group for the period of 6 months ended 3 0 June 2026 [ONLY TRANSLATION] Raport finansowy Grupy Kapitałowej Wirtualna Polska Holding SA za okres 3 i 6 miesięcy zakończonych 30 czerwca 202 6 roku 17. CURRENT AND DEFERRED INCOME TAX The table below presents current and deferred income tax. PLN’000 Six months ended 30 June 2026 (unaudited) Six months ended 30 June 2025 (unaudited) Three months ended 30 June 2026 (unaudited) Three months ended 30 June 2025 (unaudited) Current income tax (47 333) 18 121 (54 069) 11 027 For the financial year 19 790 18 121 13 432 11 027 Adjustments to previous year (67 123) - (67 501) - Deferred tax (12 286) (1 194) (4 658) (4 884) Temporary differences arising and reversed (12 286) (1 194) (4 658) (4 884) Total income tax (59 619) 16 927 (58 727) 6 143 The theoretical amount of income tax on the Group’s profit before tax differs from the amount of income tax recognized in the statement of profit or loss as follows. PLN’000 Six months ended 30 June 2026 (unaudited) Six months ended 30 June 2025 (unaudited) Three months ended 30 June 2026 (unaudited) Three months ended 30 June 2025 (unaudited) Profit before tax (7 693) 20 088 6 932 (3 113) Corporate income tax at the statutory rate of 19% (1 462) 3 817 1 317 (591) Tax effects of The following items: Revenues and costs non-taxable permanent differences (2 746) (460) (3 691) (1 633) Unrecognized tax assets (26 951) 4 105 (28 657) 2 734 Settlement of tax losses that have not been recognized assets 873 - 873 - Differences in tax rates 35 594 6 481 37 569 3 868 Other 2 110 2 984 898 1 764 Adjustments relating to previous years (incl. IP BOX) (67 036) - (67 036) - Total income tax (59 619) 16 927 (58 727) 6 143 The Capital Group includes entities subject to different tax rates. The key differences in tax rates applicable in the countries where the Group’s companies are registered are presented in the table below: The current income tax rate Poland 19% Hungary 9% Czech Republic 21% Germany 15% Lithuania 16% Croatia 18% Slovakia 24% Romania 16% In addition, the Group presents the local business tax and innovation contribution paid in Hungary as income tax. The tax base for these taxes is total net sales revenue less the cost of goods sold (COGS), subcontractor costs, material costs, intermediation service costs and research and development (R&D) costs. The combined tax rate for the local business tax and innovation contribution is 2.3%. The table above presenting the applicable income tax rates shows the basic tax rate of 15% for Germany. However, several additional tax components apply in Germany and make up the total tax rate. The total tax rate comprises The following components: • corporate income tax (Körperschaftsteuer) of 15%, plus a solidarity surcharge (Solidaritätszuschlag) of 5.5% of the corporate income tax amount; and
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71 Financial Report of Wirtualna Polska Holding SA Group for the period of 6 months ended 3 0 June 2026 [ONLY TRANSLATION] Raport finansowy Grupy Kapitałowej Wirtualna Polska Holding SA za okres 3 i 6 miesięcy zakończonych 30 czerwca 202 6 roku • trade tax (Gewerbesteuer), calculated by multiplying 3.5% by the municipal multiplier (Hebesatz). A multiplier of 460% applies to the Group’s subsidiaries. Furthermore, profit before tax is adjusted for a number of items in accordance with German tax regulations, including both additions (Hinzurechnungen) and deductions (Abzüge), which are required to determine the correct tax base. Tax settlements and other areas of operations subject to regulation, such as customs and foreign exchange matters, may be inspected by administrative authorities authorized to impose significant fines and penalties. The lack of reference to established legal regulations in Poland results in ambiguities and inconsistencies in the applicable legislation. Frequent differences of opinion regarding the legal interpretation of tax regulations, both within public authorities and between public authorities and businesses, create areas of uncertainty and conflict. Consequently, tax risk in Poland is significantly higher than is typically the case in countries with more developed tax systems. Tax settlements may be subject to inspection for a period of five years from the end of the year in which the tax was paid. As a result of such inspections, the Group’s existing tax settlements may be increased by additional tax liabilities. In the Group’s opinion, as of 30 June 2026 there were no grounds for recognizing a provision for identified and quantifiable tax risks. In light of the provisions of the General Anti-Abuse Rule (“GAAR”), effective from 15 July 2016 and intended to prevent the creation and use of artificial legal structures designed to avoid taxation in Poland, the Management Board of the Parent Company conducted a comprehensive review of the tax position of the Group entities to identify and assess transactions and arrangements that could potentially fall within the scope of the GAAR regulations. It also considered their impact on deferred tax, the tax bases of assets and provisions for tax risks. In the Management Board’s opinion, the analysis did not indicate a need to adjust the recognized current or deferred income tax balances. Nevertheless, in the Management Board’s opinion, the GAAR regulations involve inherent uncertainty as to the interpretation of tax legislation adopted by the Parent Company, which may affect the recoverability of deferred tax assets in future periods and result in additional tax payments relating to prior periods. Adjustment of overpaid corporate income tax following the application of the IP Box tax relief In March and June 2026, the subsidiary Wirtualna Polska Media SA filed amended CIT returns for the years 2020– 2021 and 2022–2023, respectively, identifying income derived from qualifying intellectual property rights, while also preparing an amended return for 2024. Upon filing the amended returns, the receivable for the years 2020–2021 was covered by a 100% impairment allowance due to the ongoing verification proceedings. Following the completion of the verification proceedings relating to the first amended return, in July 2026 the Company received a tax refund of PLN 21.2 million for the years 2020–2021. In the Group’s opinion, this confirmed the recoverability of the income tax receivable as of 30 June 2026 and, consequently, the corresponding impairment allowance was reversed. Following the positive outcome of the proceedings concerning the settlement of the IP Box tax relief for 2021, the Management Board reassessed the probability of obtaining corresponding refunds for the years 2022–2024. Based on the outcome of the completed proceedings and other available evidence, the Management Board concluded that the circumstances justified the recognition of an additional asset and income of PLN 45.6 million in the second quarter of 2026. This assessment was further supported by WPM’s receipt, in August 2026, of tax refunds of PLN 20.1 million for 2022 and PLN 14.9 million for 2023. The tax preferences applied are a consequence of the WP Group’s strategy of investing in Poland in the development of its proprietary technologies and IT solutions that qualify as intellectual property rights within the meaning of the IP Box regulations.
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72 Financial Report of Wirtualna Polska Holding SA Group for the period of 6 months ended 3 0 June 2026 [ONLY TRANSLATION] Raport finansowy Grupy Kapitałowej Wirtualna Polska Holding SA za okres 3 i 6 miesięcy zakończonych 30 czerwca 202 6 roku The table below presents the items in respect of which deferred tax assets or deferred tax liabilities were recognized. PLN’000 1 January 2026 (adjusted) Financial result Net foreign exchange differences from translating financial statements into the presentation currency 30 June 2026 (unaudited) Deferred tax assets: Unused tax losses 14 775 24 839 432 40 046 Write-downs of assets 2 604 (33) (1) 2 570 Differences in tax and carrying amounts of liabilities and receivables 56 483 14 161 412 71 056 Other differences 3 689 358 17 4 064 Deferred tax asset 77 551 39 325 860 117 736 Deferred tax liability: Differences between the carrying amounts and tax bases of non-current assets 216 965 (5 080) 2 754 214 639 Revenue accruals 47 501 37 061 842 85 404 Other 3 210 (2 247) 8 971 Deferred tax liability 267 676 29 734 3 604 301 014 Deferred tax assets/liability net (190 125) 9 591 (2 744) (183 278) PLN’000 As of 30 June 2026 (unaudited) As of 31 December 2025 (adjusted) Offsetting of deferred tax liability (77 690) (62 777) Deferred tax assets after offsetting 40 046 14 775 Deferred tax liabilities after offsetting 223 325 204 900 The amount of deferred tax recognized in profit or loss for the first half of 2026, as presented in the table above, differs from the amount of deferred tax reported in the condensed interim consolidated statement of profit or loss and other comprehensive income. The difference results from the recognition in profit or loss for the first half of the year of deferred income tax arising from the origination and reversal of temporary differences in Invia Flights Germany GmbH and its subsidiaries for the period from January to May 2026. In the consolidated statement of financial position as of 31 December 2025, the deferred tax assets and liabilities of Invia Flights Germany GmbH and its subsidiaries were presented under the separate line items Assets held for sale and Liabilities held for sale. As of 30 June 2026, following the completion of the disposal of Invia Flights Germany GmbH and its subsidiaries, the deferred tax assets and liabilities of those entities were no longer recognized. 18. EARNINGS PER SHARE Basic earnings per share are calculated by dividing the net profit for the period by the weighted average number of ordinary shares (without treasury shares) outstanding during the period. There were no dilutive instruments during the first half of 2026 or 2025. PLN'000 Six months ended 30 June 2026 (unaudited) Six months ended 30 June 2025 (unaudited) Three months ended 30 June 2026 (unaudited) Three months ended 30 June 2025 (unaudited) Net profit attributable to equity holders of the Parent Company 45 747 (1 064) 62 617 (11 074) Weighted average number of shares shown for the purpose of calculating basic earnings per share (no. of units) 29 246 550 29 753 691 28 723 613 29 775 297 Basic (in PLN) 1,56 (0,04) 2,18 (0,37)
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73 Financial Report of Wirtualna Polska Holding SA Group for the period of 6 months ended 3 0 June 2026 [ONLY TRANSLATION] Raport finansowy Grupy Kapitałowej Wirtualna Polska Holding SA za okres 3 i 6 miesięcy zakończonych 30 czerwca 202 6 roku 19. CHANGES IN IMPAIRMENT ALLOWANCES FOR ASSETS During the first six months of 2026, the Group increased impairment allowances for trade receivables by PLN 5,334 thousand. During the same period, impairment allowances were recognized or intangible assets, property, plant and equipment, program assets and inventories were written off in the amount of PLN 35 thousand. 20. PROPERTY, PLANT AND EQUIPMENT, INTANGIBLE ASSETS AND PROGRAM ASSETS During the period from 1 January 2026 to 30 June 2026, the Group acquired property, plant and equipment of PLN 13.2 million and intangible assets of PLN 90.5 million. In addition, the Group acquired program assets of PLN 6.3 million. As of 30 June 2026 and 31 December 2025, the Group had no material commitments to purchase property, plant and equipment or intangible assets. 21. GOODWILL The table below presents the allocation of goodwill to cash-generating units: Cash generating unit As of 30 June 2026 (unaudited) As of 31 December 2025 (adjusted) Segment Advertising and subscription 262 837 262 837 Advertising and Subscription activities 189 644 189 644 Audioteka 73 193 73 193 Segment Travel 887 028 861 003 International travel 564 112 556 546 Local travel 322 916 304 457 Consumer finance 51 808 51 808 Superauto 24 375 24 375 Financial lead generation 27 433 27 433 Segment Other 58 317 58 317 Extradom 58 317 58 317 Goodwill (gross) 1 259 989 1 233 965 Goodwill revaluation write-off: (165 038) (152 681) Advertising and Subscriptions activities (2 963) (2 963) Local Travel (162 075) (149 718) Goodwill (net) 1 094 951 1 081 283 The “Advertising and subscription” cash-generating unit includes the “WP.pl” trademark with a carrying amount of PLN 102,500 thousand, which has been assigned an indefinite useful life and is subject to impairment testing. Impairment tests As a result of the Group’s analysis of impairment indicators, performed in accordance with the adopted methodology, impairment indicators were identified for The following cash-generating units (CGUs): Domestic Travel – Szallas Group and Financial Lead Generation (Totalmoney). The impairment indicator was the shortfall against the financial results projected for the first half of 2026, as well as the fact that the current estimate for the full-year 2026 financial results is below the level assumed in the previous forecast. Consequently, the Group performed impairment tests for the identified CGUs. Based on the tests performed, it was concluded that their recoverable amounts were not lower than their carrying amounts and, therefore, no impairment losses were required to be recognized. When determining the recoverable amounts, the Group reflected in its financial projections the pressure on the performance of the Domestic Travel and Financial Lead Generation segments in 2026, followed by an assumed gradual recovery in performance and a return to growth from 2027 onwards. The Group did not identify any impairment indicators for the remaining CGUs and, consequently, the other impairment tests were not updated.
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74 Financial Report of Wirtualna Polska Holding SA Group for the period of 6 months ended 3 0 June 2026 [ONLY TRANSLATION] Raport finansowy Grupy Kapitałowej Wirtualna Polska Holding SA za okres 3 i 6 miesięcy zakończonych 30 czerwca 202 6 roku 22. TRADE RECEIVABLES AND OTHER ASSETS The table below presents the structure of trade receivables and other assets as at 30 June 2026 and 31 December 2025: PLN'000 As of 30 June 2026 (unaudited) As of 31 December 2025 Net trade receivables in cash 513 046 416 204 Net trade receivables in barter 4 299 7 608 Assets from the contracts with clients 36 215 25 654 Public-law receivables 12 938 15 554 Advances for deliveries 114 731 66 896 Employee settlements 670 319 Prepayments 15 772 10 641 Other 7 855 12 466 Total 705 526 555 342 23. SHARE CAPITAL As of 30 June 2026, the share capital was divided into 29,775,297 shares with a nominal value of PLN 0.05 each, comprising 11,289,709 shares carrying preferential voting rights and 18,485,588 ordinary shares. The structure of the share capital was as follows: Shareholder Number of shares % of share capital Number of votes % of votes Jacek Świderski through subsidiaries, including: 3 779 667 12,69% 7 542 904 18,37% Orfe S.A. 3 779 667 12,69% 7 542 904 18,37% Michał Brański through subsidiaries, including: 3 775 416 12,68% 7 538 652 18,36% 10X S.A. 3 767 488 12,65% 7 530 724 18,34% Krzysztof Sierota through subsidiaries, including: 3 771 164 12,67% 7 534 400 18,35% Albemuth Inwestycje S.A. 3 763 236 12,64% 7 526 472 18,33% Company (treasury shares) ***: 3 828 130 12,86% 3 828 130 9,32% Total: Founders * and the Company ** 15 154 377 50,90% 26 444 086 64,40% Allianz OFE 3 597 103 12,08% 3 597 103 8,76% Nationale-Nederlanden OFE 1 993 700 6,70% 1 993 700 4,85% Others 9 030 117 30,33% 9 030 117 21,99% Total 29 775 297 100,00% 41 065 006 100,00% * The Founders, in connection with the shareholders’ agreement concluded on 19 March 2015 by the Founders and their subsidiaries (Orfe SA, 10X SA and Albemuth Inwestycje SA) on 19 March 2015, constituting an agreement on concerted voting at the Company’s general meeting of shareholders andthe pursuit of a consistent policy towards the Company, exercise their voting rights jointly. ** The Company, together with its Founders and their subsidiaries (Orfe S.A., 10X S.A. and Albemuth Inwestycje S.A.) is a party to an agreement within the meaning of Article 87(1)(5) of the Act on Public Offerings, concerning the acquisition of the Company’s shares, concluded on 30 March 2026. *** Pursuant to Article 364(2) of the Commercial Companies Code, the Company does not exercise voting rights attached to its own shares.
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75 Financial Report of Wirtualna Polska Holding SA Group for the period of 6 months ended 3 0 June 2026 [ONLY TRANSLATION] Raport finansowy Grupy Kapitałowej Wirtualna Polska Holding SA za okres 3 i 6 miesięcy zakończonych 30 czerwca 202 6 roku As of 31 December 2025, the share capital was divided into 29,775,297 shares with a nominal value of PLN 0.05 each, comprising 11,289,709 shares carrying preferential voting rights and 18,485,588 ordinary shares. The structure of the share capital was as follows: Shareholder Number of shares % of share capital Number of votes % of votes Jacek Świderski through subsidiaries, including: 3 779 667 12,69% 7 542 904 18,37% Orfe S.A. 3 779 667 12,69% 7 542 904 18,37% Michał Brański through subsidiaries, including: 3 775 416 12,68% 7 538 652 18,36% 10X S.A. 3 767 488 12,65% 7 530 724 18,34% Krzysztof Sierota through subsidiaries, including: 3 771 164 12,67% 7 534 400 18,35% Albemuth Inwestycje S.A. 3 763 236 12,64% 7 526 472 18,33% Total: Founders * 11 326 247 38,04% 22 615 956 55,07% Allianz OFE 3 597 103 12,08% 3 597 103 8,76% Others 14 851 947 49,88% 14 851 947 36,17% Total 29 775 297 100,00% 41 065 006 100% * The Founders, in connection with the shareholders’ agreement concluded on 19 March 2015 by the Founders and their subsidiaries (Orfe SA, 10X SA and Albemuth Inwestycje SA) on 19 March 2015, constituting an agreement on concerted voting at the Company’s general meeting of shareholders and the pursuit of a consistent policy towards the Company, exercise their voting rights jointly. The Company’s share capital was fully paid as of 30 June 2026 and 31 December 2025. INCREASE IN SHARE CAPITAL No changes in the share capital occurred during the current period. CHANGES IN SHARE CAPITAL AFTER THE BALANCE SHEET DATE There were no changes in the share capital after the balance sheet date. BUYBACK OF OWN SHARES On 3 June 2026, the Management Board of WPH adopted a resolution on the acquisition of the Company’s own shares. The transaction was executed on 8 June 2026 and settled on 10 June 2026. The acquisition comprised 3,828,130 ordinary bearer shares in the Company, with a nominal value of PLN 0.05 each and a total nominal value of PLN 191,406.50, registered with the Central Securities Depository of Poland (Krajowy Depozyt Papierów Wartościowych S.A.) under ISIN code PLWRTPL00027. The shares represent in aggregat e approximately 12.86% of the Company’s share capital and carry a total of 3,828,130 votes at the Company’s General Meeting, representing approximately 9.32% of the total number of votes in the Company. The acquisition price for each Acquired Share was PLN 59. The total amount allocated by the Company for the acquisition of the Acquired Shares was PLN 225,859,670.00. Direct costs that increased the carrying amount of treasury shares amounted to PLN 811 thousand. Pursuant to the resolutions of the General Meeting, an amount of PLN 351,348 thousand was transferred to the reserve capital designated for the acquisition of treasury shares. The General Meeting authorised the Management Board to acquire treasury shares until 23 June 2030, but no longer than until the funds allocated for this purpose have been fully utilised. As part of the share repurchase carried out in June 2026, an amount of PLN 225,860 thousand was utilised. As the Company remains authorised to conduct further share repurchases, it continues to maintain PLN 351,348 thousand in the reserve capital until the completion of the share repurchase programme. SIGNIFICANT CHANGES IN SHAREHOLDING STRUCTURE Other than the share buyback described above, there were no other significant changes in the shareholding structure.
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76 Financial Report of Wirtualna Polska Holding SA Group for the period of 6 months ended 3 0 June 2026 [ONLY TRANSLATION] Raport finansowy Grupy Kapitałowej Wirtualna Polska Holding SA za okres 3 i 6 miesięcy zakończonych 30 czerwca 202 6 roku DIVIDEND POLICY On 20 December 2016, the Management Board of Wirtualna Polska Holding SA adopted a dividend policy. The policy provides for the payment of a dividend exceeding PLN 1 per share, but not exceeding 70% of the Capital Group’s consolidated net profit reported i n the consolidated financial statements for the respective financial year. When recommending the payment of a dividend by WPH SA, the Management Board will each time take into account relevant factors, including in particular the Group’s current financial position, its investment plans and potential acquisition targets, as well as the expected level of available cash in WPH SA in the financial year in which the dividend is to be paid. On 2 June 2026, the Annual General Meeting of Wirtualna Polska Holding adopted a resolution on the payment of a dividend of PLN 38,708 thousand. The dividend was paid on 20 July 2026. The final amount of the dividend paid, after taking into account the share buyback, amounted to PLN 33,731 thousand. 24. INCENTIVE PLAN – SHARE-BASED PAYMENTS On 23 October 2014, the Company’s shareholders entered into an agreement providing for the establishment of an incentive plan under which key individuals cooperating with the Capital Group, of which the Company is the Parent Company, would be granted options to acquire shares in the Company. The total number of shares allocated to the plan is 1,230,576 and did not exceed 5% of the Company’s share capital. As of 30 June 2026, all options available under the plan had been granted. However, an additional agreement was entered into with a member of the Company’s Management Board, setting out obligations relating to the package of shares acquired under the incen tive plan in 2024. For a period of five years commencing on 1 January 2025, the right to dispose of the rights attached to the shares is restricted and conditional upon the Management Board member continuing to hold office in the Company. Consequently, des pite the options having been granted in 2024, the Company recognizes the cost of this package on a pro rata basis over a five- year period commencing on 1 January 2025. The total expense recognized in profit or loss for the period ended 30 June 2026 in connection with this plan amounted to PLN 563 thousand, while the total expense recognized in profit or loss in prior periods amounted to PLN 11,936 thousand. 25. LOANS, BORROWINGS AND LEASES PLN'000 As of 30 June 2026 (unaudited) As of 31 December 2025 Long-term Bank loans 1 679 737 1 712 147 Other borrowings 363 842 Liability from the right to use buildings 54 679 64 816 Liability for lease of other property, plant and equipment 313 427 1 735 092 1 778 232 Short-term Bank loans 118 650 58 101 Other borrowings 6 981 13 621 Liability from the right to use buildings 25 584 32 418 Liability for lease of other property, plant and equipment 564 561 151 779 104 700 Total 1 886 871 1 882 931
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77 Financial Report of Wirtualna Polska Holding SA Group for the period of 6 months ended 3 0 June 2026 [ONLY TRANSLATION] Raport finansowy Grupy Kapitałowej Wirtualna Polska Holding SA za okres 3 i 6 miesięcy zakończonych 30 czerwca 202 6 roku LOANS As of 30 June 2026, the Group had The following undrawn credit facilities: PLN’000 As of 30 June 2026 (unaudited) As of 31 December 2025 Expiring after one year 25 757 30 000 Expiring within one year 192 232 198 092 Total 217 990 228 092 On 20 March 2024, a facility agreement was entered into between Wirtualna Polska Holding, Wirtualna Polska Media SA and Wakacje.pl SA as Borrowers; TotalMoney.pl Sp. z o.o., Wakacje.pl SA, Stacja Służew Sp. z o.o., Audioteka Group Sp. z o.o., Nocowanie.pl Sp. z o.o., Extradom.pl Sp. z o.o., WP Naturalnie Solar 1 Sp. z o.o., WP Naturalnie Solar 2 Sp. z o.o., Szallas Group Zártkörűen Működő Részvénytársaság, Szallas.hu Zártkörűen Működő Részvénytársaság and Online Holding s.r.o. as Guarantors; and a syndicate of banks comprising mBank SA as Facility Agent, Powszechna Kasa Oszczędności Bank Polski SA, ING Bank Śląski SA, Bank Polska Kasa Opieki SA and BNP Paribas Bank Polska SA as Lenders. Under the agreement, the Lenders granted the Group facilities of up to PLN 1,067 million in aggregate for The following purposes: • financing and refinancing acquisitions and capital expenditure specified in the new facility agreement, up to an aggregate amount of PLN 300 million (the Capex Facility Tranche); • refinancing the existing indebtedness under the facility agreement entered into on 25 February 2020 with a syndicate of banks comprising mBank SA, Powszechna Kasa Oszczędności Bank Polski SA, ING Bank Śląski SA, Bank Polska Kasa Opieki SA and BNP Paribas Bank Polska SA; and • financing ongoing operations and working capital up to PLN 30 million. On 7 February 2025, a conditional amendment was entered into in respect of the facility agreement dated 20 March 2024 between Wirtualna Polska Holding SA and Wirtualna Polska Media SA as Borrowers; TotalMoney.pl Sp. z o.o., Wakacje.pl SA, Audioteka Group Sp. z o.o., Nocowanie.pl Sp. z o.o., Extradom.pl Sp. z o.o., WP Naturalnie Solar 1 Sp. z o.o., WP Naturalnie Solar 2 Sp. z o.o., Szallas Group Zártkörűen Működő Részvénytársaság and Online Holding s.r.o. as Guarantors; and a syndicate of banks comprising mBank SA, Powszechna Kasa Oszczędności Bank Polski SA, ING Bank Śląski SA, Bank Polska Kasa Opieki SA and BNP Paribas Bank Polska SA as Lenders. In accordance with IFRS, the Group accounted for the amendment as a modification of the existing liability. Under the Amendment, among other matters: • a new Lender, Bank Handlowy w Warszawie SA, acceded to the Facility Agreement; and • the Lenders agreed to provide a new PLN-denominated Capex Facility and a new EUR-denominated Capex Facility, increasing the aggregate maximum amount of the facilities to PLN 1,766,931 thousand and EUR 101,000 thousand. Under the Amendment, the financing may be used in particular to finance and refinance acquisitions and capital expenditure, including in connection with the acquisition of shares in Invia Group SE. The additional financing was drawn on 24 April 2025. The indebtedness bears interest at: • the three-month WIBOR rate plus a margin specified in the agreement and dependent on the ratio of the Capital Group’s net debt to EBITDA; and • the three-month EURIBOR rate plus a margin specified in the agreement and dependent on the ratio of the Capital Group’s net debt to EBITDA. On 30 March 2026, an amendment was entered into in respect of the facility agreement dated 20 March 2024 between Wirtualna Polska Holding SA and Wirtualna Polska Media SA as Borrowers; TotalMoney.pl Sp. z o.o., Wakacje.pl SA, Audioteka Group Sp. z o.o. and other subsidiaries of the Company as Guarantors; and a syndicate of banks comprising mBank SA as Facility Agent, Powszechna Kasa Oszczędności Bank Polski SA, ING Bank Śląski SA, Bank Polska Kasa Opieki SA, BNP Paribas Bank Polska SA and Bank Handlowy SA as Lenders.
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78 Financial Report of Wirtualna Polska Holding SA Group for the period of 6 months ended 3 0 June 2026 [ONLY TRANSLATION] Raport finansowy Grupy Kapitałowej Wirtualna Polska Holding SA za okres 3 i 6 miesięcy zakończonych 30 czerwca 202 6 roku Under the Amendment: • WPH will accede to the Facility Agreement as a Borrower, enabling the Company to draw facilities, including the Capex Facility and a guarantee facility; • financing under the Capex Facility Tranche will be increased by PLN 220 million to a total amount of PLN 405 million; and • the Lenders will provide one or more guarantee facilities for an aggregate amount of PLN 400 million. On 5 June 2026, Wirtualna Polska Holding S.A. drew down PLN 225,860 thousand under the CAPEX facility to carry out the share buyback. On 29 June 2026, the Group made an early repayment of part of the facility drawn by its subsidiary, Wirtualna Polska Media SA, in the principal amount of PLN 176.2 million. In accordance with the current repayment schedule, as of 30 June 2026 the Borrowers are required to repay the indebtedness as follows: • Facility A Tranche 1, amounting to PLN 167.7 million, in fourteen quarterly instalments; • Facility A Tranche 2, amounting to PLN 255 million, on the final maturity date falling in the first quarter of 2030; • Capex Facility Tranche 1, amounting to PLN 35.7 million, in fourteen equal quarterly instalments commencing in the first quarter of 2026; • Capex Facility Tranche 2, amounting to PLN 61.1 million, on the final maturity date falling in the first quarter of 2031; • New Capex Facility Tranche 1, amounting to PLN 250.8 million, in seventeen equal quarterly instalments commencing in the first quarter of 2027; • New Capex Facility Tranche 2, amounting to PLN 376.1 million, on the final maturity date falling in the first quarter of 2031; • 2026 Capex Facility Tranche 1, up to a maximum amount of PLN 162.2 million, in seventeen equal quarterly instalments commencing in the first quarter of 2027; • 2026 Capex Facility Tranche 2, up to a maximum amount of PLN 243.3 million, on the final maturity date falling in the first quarter of 2031; • New EUR Capex Facility Tranche 1, amounting to EUR 40.4 million, in seventeen equal quarterly instalments commencing in the first quarter of 2027; and • New EUR Capex Facility Tranche 2, amounting to EUR 60.6 million, on the final maturity date falling in the first quarter of 2031. The Group presented the facility liability outstanding as of 30 June 2026 as current and non-current based on the applicable repayment schedule. The current portion was calculated as the total scheduled principal repayments falling due within the next twelve months. Under the agreement, The following security was established to secure the receivables: • financial and registered pledges over the shares and ownership interests in Wirtualna Polska Media SA, TotalMoney.pl Sp. z o.o., Wakacje.pl SA, Audioteka Group Sp. z o.o., Nocowanie.pl Sp. z o.o., Extradom.pl Sp. z o.o., WP Naturalnie Solar 1 Sp. z o.o., W P Naturalnie Solar 2 Sp. z o.o., Szallas Group Zártkörűen Működő Részvénytársaság, Online Holding s.r.o., Invia Group SE, Invia.cz a.s., Invia Travel Germany GmbH and Digitics SA; • ordinary and registered pledges over the rights to trademarks owned by WPM, Wakacje.pl SA and Invia.cz; • registered pledges over collections of movable assets and rights of Wirtualna Polska Holding SA, Wirtualna Polska Media SA, TotalMoney.pl Sp. z o.o., Wakacje.pl SA, Audioteka Group Sp. z o.o., Nocowanie.pl Sp. z
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79 Financial Report of Wirtualna Polska Holding SA Group for the period of 6 months ended 3 0 June 2026 [ONLY TRANSLATION] Raport finansowy Grupy Kapitałowej Wirtualna Polska Holding SA za okres 3 i 6 miesięcy zakończonych 30 czerwca 202 6 roku o.o., Extradom.pl Sp. z o.o., WP Naturalnie Solar 1 Sp. z o.o., WP Naturalnie Solar 2 Sp. z o.o. and Szallas Group Zártkörűen Működő Részvénytársaság; • financial and registered pledges over bank accounts maintained for the Company, Wirtualna Polska Media SA, TotalMoney.pl Sp. z o.o., Wakacje.pl SA, Audioteka Group Sp. z o.o., Nocowanie.pl Sp. z o.o., Extradom.pl Sp. z o.o., WP Naturalnie Solar 1 Sp. z o.o. and WP Naturalnie Solar 2 Sp. z o.o., together with powers of attorney over those bank accounts; • security assignments of rights under agreements entered into by Wirtualna Polska Media SA and specified in the facility agreement, including insurance policies, commercial contracts and intragroup loans; • statements of submission to enforcement by Wirtualna Polska Holding SA, Wirtualna Polska Media SA, TotalMoney.pl Sp. z o.o., Wakacje.pl SA, Audioteka Group Sp. z o.o., Nocowanie.pl Sp. z o.o., Extradom.pl Sp. z o.o., WP Naturalnie Solar 1 Sp. z o.o., WP Na turalnie Solar 2 Sp. z o.o., Szallas Group Zártkörűen Működő Részvénytársaság, Online Holding s.r.o., Invia Group SE, Invia.cz a.s. and Invia Travel Germany GmbH; and • an agreement subordinating specified existing and future receivables due from Wirtualna Polska Media SA to the receivables of the Lenders. Invia Group SE, Invia.cz a.s. and Invia Travel Germany GmbH also acceded to the facility agreement as Guarantors. Both as of 30 June 2026 and as of the date of this report, the security covers all of the Group’s obligations under the facility agreement. The Group’s Management Board continuously monitors the financial ratios defined in the facility agreement. Among other requirements, the facility agreement requires the Group to maintain a leverage ratio, calculated as the ratio of net debt to normalized EBITDA, below the level specified in the agreement. As of the date of this report, the ratio remained at a satisfactory level and did not indicate a risk of non-compliance with the required threshold. BORROWINGS The Group is a party to a stock financing loan agreement entered into in 2021 to finance the acquisition of vehicles sold as part of Superauto.pl’s operations. As of 30 June 2026, the maximum loan limit amounted to PLN 15 million. As of that date, Superauto.pl had drawn PLN 6.6 million under the available credit facility. Invia Group companies are parties to loan agreements used to finance the acquisition of property, plant and equipment. As of 30 June 2026, the outstanding amount of these loans was PLN 634 thousand. The loans bear interest at fixed rates. Depending on the respective loan, repayment is scheduled between 2026 and 2029. LEASE LIABILITIES RELATED TO RIGHT-OF-USE ASSETS – BUILDINGS As a lessee, the Group recognizes all identified lease agreements in accordance with a single model, under which a right-of-use asset and a corresponding lease liability are recognized in the statement of financial position. LEASES OF PROPERTY, PLANT AND EQUIPMENT The Group leases vehicles as well as computer and server equipment under agreements concluded for periods not exceeding five years. Lease liabilities are effectively secured, as the rights to the leased assets revert to the lessor in the event of a breach of the agreement by the lessee. 26. PROVISIONS The table below presents the structure of provisions as at 30 June 2026 and 31 December 2025. PLN’000 As of 30 June 2026 (unaudited) As of 31 December 2025 (adjusted) Provision for employee benefits 1 025 1 025 Provision for pension benefits 1 025 1 025 Other provisions, including: 4 154 4 207 Provisions for litigation 2 839 2 983 Other 1 315 1 224 Total 5 179 5 232
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80 Financial Report of Wirtualna Polska Holding SA Group for the period of 6 months ended 3 0 June 2026 [ONLY TRANSLATION] Raport finansowy Grupy Kapitałowej Wirtualna Polska Holding SA za okres 3 i 6 miesięcy zakończonych 30 czerwca 202 6 roku 27. TRADE PAYABLES AND OTHER LIABILITIES The table below presents the structure of trade payables and other liabilities as at 30 June2026 and 31 December 2025. PLN'000 As of 30 June 2026 (unaudited) As of 31 December 2025 (adjusted) Long-term Long-term payables for purchase of non-current assets 16 896 16 391 Other 14 499 12 492 31 395 28 883 Short-term Cash trade payables 818 032 440 690 Liabilities related to business combinations (other than earn-out) 13 246 13 246 Dividend liabilities 38 743 - Contract liabilities - other 16 512 22 108 Contract liabilities - refund liability 29 437 34 089 Liabilities arising from vouchers 79 200 85 042 Public payables 30 701 32 778 Barter trade payables 3 346 3 067 Employee benefit liabilities 49 102 43 048 Liabilities for the purchase of property, plant and equipment, intangible assets and programming assets 7 064 13 926 Other 36 142 14 761 1 121 525 702 756 Cash trade payables include, among others, liabilities to tour operators arising from advances for package holidays collected by the Group on their behalf from end customers. Liability related to the acquisition of companies or businesses AMK UAB In December 2020, the subsidiary Audioteka SA (currently Audioteka Group Sp. z o.o.) acquired 70% of shares in AMK UAB. As part of the acquisition, call and put option mechanisms were established with respect to the remaining shares in AMK held by the previous owner. Under the put option, the minority shareholder has the right to sell its shares, and Audioteka is obliged to acquire them starting from January 2024, provided that the contractual conditions specified in the agreement are met. The Group assessed the probab ility of fulfillment of these conditions as high and, accordingly, recognized a liability related to the acquisition of the business in 2023. In the Group’s opinion, this constitutes an obligation to acquire its own equity instruments and was initially rec ognized against equity. The remeasurement of the liability resulting from changes in the forecasted results of AMK, forming the basis for the valuation of the option exercise, was recognized in the profit or loss for the current period. At the same time, the Group emphasizes that it has no knowledge of any intention of the minority shareholder of AMK to exercise the option held. As at 30 June 2026 and 31 December 2025, the estimated contingent liability amounted to PLN 13,246 thousand.
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81 Financial Report of Wirtualna Polska Holding SA Group for the period of 6 months ended 3 0 June 2026 [ONLY TRANSLATION] Raport finansowy Grupy Kapitałowej Wirtualna Polska Holding SA za okres 3 i 6 miesięcy zakończonych 30 czerwca 202 6 roku 28. NON-CURRENT ASSETS (OR DISPOSAL GROUPS) HELD FOR SALE AND RELATED LIABILITIES, AND GAIN ON DISPOSAL OF A SUBSIDIARY The assets and liabilities relating to Invia Flights Germany GmbH (hereinafter: “IFG”) and its subsidiaries were presented as held for sale as at 31 December 2025, following the parent company becoming aware that on 3 December 2025 Invia Flights s.r.o., a subsidiary of the Group, had entered into a conditional agreement for the disposal of 100% of the shares in IFG to Tongcheng International Investment Singapore Pte. Ltd. The transaction was subject to conditions precedent, including in particular obtaining the required approval from the competent German public administrative authority, the Federal Ministry for Economic Affairs and Energy (Bundesministerium für Wirtschaft und Energie; BMWE). On 14 April 2026, notification was received that the aforementioned approval for the transaction had been granted by the BMWE. IFG operates leading flight booking platforms in the DACH region comprising Germany, Austria and Switzerland. The decision to dispose of the shares in IFG resulted from the Issuer’s strategy of focusing on package holiday and domestic travel activities conducted within the Issuer’s Travel segment. On 29 May 2026, Invia Flights s.r.o. (“IF”) entered into an agreement for the sale of 100% of the shares in IFG to Tongcheng International Investment Singapore Pte. Ltd. As a result of the transaction, IF disposed of 25,000 shares representing 100% of IFG’s share capital and received consideration for the shares of EUR 45.5 million. The total transaction value may be adjusted based on the actual amount of net debt and net working capital as of the transaction completion date; however, according to the Group ’s estimates, this adjustment will not be material. Following completion of the sale transaction described above, as of 30 June 2026 the Group held no assets or liabilities classified as held for sale. Assets classified as held for sale PLN'000 As of 30 June 2026 (unaudited) As of 31 December 2025 Assets classified as held for sale Property, plant and equipment - 571 Goodwill - 85 733 Intangible assets - 70 430 Deferred income tax assets - 131 Trade receivables and other non-financial assets - 22 852 Cash and cash equivalents - 31 880 Total disposal group classified as held for sale - 211 597 Liabilities classified as held for sale PLN'000 As of 30 June 2026 (unaudited) As of 31 December 2025 Liabilities directly associated with assets classified as held for sale Deferred income tax liabilities - 9 205 Trade and other payables - 25 650 Employee benefit provisions - 410 Other provisions - 81 Total disposal group liabilities classified as held for sale - 35 346
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82 Financial Report of Wirtualna Polska Holding SA Group for the period of 6 months ended 3 0 June 2026 [ONLY TRANSLATION] Raport finansowy Grupy Kapitałowej Wirtualna Polska Holding SA za okres 3 i 6 miesięcy zakończonych 30 czerwca 202 6 roku The accounting for the disposal of Invia Flights Germany GmbH is presented below. PLN'000 Six months ended 30 June 2026 (unaudited) Sales revenue 192 953 Cost of assets sold (165 311) Gain on disposal of a subsidiary and an associate 27 642 29. INFORMATION ON LITIGATION Where a Group company is a defendant in litigation proceedings, a provision is recognized for the given case based on its factual circumstances and an estimate of costs prepared by the Legal Department handling the matter. Provisions are recognized in the amount of claims and legal costs that, in the Group’s opinion, are probable to be awarded. Currently, there are no court, arbitration or administrative proceedings concerning liabilities or receivables whose individual value would be material to the Group. 30. FAIR VALUE ESTIMATION The following table presents the financial instruments held by the Group measured at fair value, categorized by valuation method. The individual levels are defined as follow: • inputs other than quoted prices included within Level 1 that are observable or can be corroborated for the asset or liability, either directly (i.e. as prices) or indirectly (i.e. derived from prices) (Level 2); • inputs for the valuation of the asset or liability that are not based on observable market data (i.e. unobservable inputs) (Level 3). The following table presents the Group’s financial assets and liabilities measured at fair value as at 30 June 2026: PLN’000 Level 1 Level 2 Level 3 Total Financial assets Assets measured at fair value through profit or loss - Shares - 10 430 800 11 230 Financial instruments - - - - Assets measured at fair value through other comprehensive income - Shares 1 296 - - 1 296 - Total financial assets 1 296 10 430 800 12 526 Level 1 financial instruments The fair value of financial instruments traded in an active market is determined using current market prices for identical assets or liabilities. The valuation of Level 1 financial instruments is based on market quotations for such instruments. Level 2 financial instruments The fair value of financial instruments not traded in an active market (for example over-the-counter derivatives) is determined using appropriate valuation techniques. Such valuation techniques maximize the use of observable market data where available and rely as little as possible on entity-specific estimates. If all significant inputs required for the fair value measurement of an instrument are observable, the instrument is classified within Level 2.
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83 Financial Report of Wirtualna Polska Holding SA Group for the period of 6 months ended 3 0 June 2026 [ONLY TRANSLATION] Raport finansowy Grupy Kapitałowej Wirtualna Polska Holding SA za okres 3 i 6 miesięcy zakończonych 30 czerwca 202 6 roku Level 3 financial instruments If one or more significant inputs are not based on observable market data, the instrument is classified within Level 3.The Group classifies within Level 3 investments in companies for which current financial data and forecasted results necessary to perform a fair value valuation are not available. The value was estimated based on information contained in published historical financial statements. The table below presents the fair values of loans and borrowings together with their carrying amounts as at 30 June 2026. PLN’000 Carrying amount Fair value Loans 1 805 731 1 820 843 Finance lease 877 877 A liability for the right of use buildings 80 263 80 263 Total 1 886 871 1 901 983 31. OBJECTIVES AND PRINCIPLES OF FINANCIAL RISK MANAGEMENT The Group is exposed to foreign exchange risk, credit risk, liquidity risk and the risk of changes in cash flows and fair values resulting from changes in interest rates. FOREIGN EXCHANGE RISK The WPH Capital Group operates internationally and is therefore exposed to the risk of fluctuations in the EUR and USD exchange rates in connection with sales of advertising services to foreign customers, capital expenditure and, primarily, office lease agreements, a significant proportion of which are denominated in EUR. The main statement of financial position items exposed to foreign currency risk are trade payables, lease liabilities relating to office leases, trade receivables and cash. Exposure to fluctuations in the EUR exchange rate does not apply to companies for which EUR is the functional currency. The Group does not hedge its foreign currency risk by entering into long -term foreign exchange hedging transactions. In the first half of 2026, the Group did not hold any foreign currency options or other instruments hedging foreign currency risk. Risk is managed by the centralized Group Cash Flow Management Department, which implements the policy approved by the Management Board. The Group Cash Flow Management Department identifies and assesses financial risks and protects the Group against them in close cooperation with the operating entities. The Management Board establishes the general risk management principles and policies relating to specific areas, such as foreign currency risk, interest rate risk, credit risk, the use of derivative and other non-derivative financial instruments, and the investment of surplus liquidity. CREDIT RISK The credit risk to which the Group is exposed arises mainly from trade receivables and cash held in bank accounts. • Trade receivables The Group enters into transactions with companies with an established market reputation and a long history of cooperation that have not previously experienced difficulties in settling their liabilities towards the Group. All customers wishing to use trade credit are subject to a prior verification procedure. Furthermore, through the ongoing monitoring of receivable balances, the Group’s exposure to the risk of uncollectible receivables is insignificant. In the Travel segment, the Group has receivables for commissions due from tour operators. These receivables generally have short payment terms. The agency sales model involves collecting payments from end customers on behalf of tour operators and subsequently remitting those payments to the travel agencies. As this model results in both receivables from and liabilities to the same counterparties, it minimizes the existing credit risk.
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84 Financial Report of Wirtualna Polska Holding SA Group for the period of 6 months ended 3 0 June 2026 [ONLY TRANSLATION] Raport finansowy Grupy Kapitałowej Wirtualna Polska Holding SA za okres 3 i 6 miesięcy zakończonych 30 czerwca 202 6 roku Furthermore, in the case of certain counterparties, receivables are settled by offsetting the amount due from the travel agency against the amount transferred on behalf of end customers. Due to the characteristics of the media market in which the Group operates, receivables of the Advertising and Subscription segment overdue by up to 90 days are not considered to be at risk, unless the Group has information indicating financial difficultie s of the respective customer. This results from the fact that the Group’s customers are primarily intermediaries, such as media agencies, acting on behalf of end customers. Consequently, the Group’s customers frequently withhold payment until they receive funds from the end customer. The Group has no significant concentration of credit risk, and receivables are generally settled within 60 days. The Group has a well -diversified portfolio of customers and suppliers. Neither in the first half of 2026 nor in the first half of 2025 did any counterparty account for more than 10% of the Group’s consolidated revenue. Accordingly, in the Management Board’ s opinion, there is no risk related to excessive revenue concentration or credit risk. • Cash held in bank accounts The Group holds its cash exclusively with financial institutions of the highest reputation. Maximum exposure to credit risk corresponds to the carrying amount of held cash and cash equivalents. Impairment allowances for cash and cash equivalents were determined individually for each balance held with a given financial institution. Credit risk was assessed using external bank ratings and publicly available information on default rates applicable to the respective ratings, as determined by Moody’s Investors Service. The analysis indicated that these assets had low credit risk as of the reporting date. The Group applied the practical expedient permitted by the standard and determined the impairment allowance based on 12-month expected credit losses. The calculation indicated that the impairment allowance was immaterial. The Group does not hold any cash deposits with maturities exceeding three months. RISK OF CHANGES IN CASH FLOWS AND FAIR VALUE RESULTING FROM CHANGES IN INTEREST RATES In the case of the Group, interest rate risk is related to long-term loans and borrowings. Loans and borrowings bearing variable interest rates expose the Group to the risk of changes in cash flows resulting from changes in interest rates. The Group analyses its exposure to interest rate risk on an ongoing basis. Various scenarios are simulated, taking into account refinancing, the renewal of existing positions, alternative financing and hedging. Based on these scenarios, the Group calculate s the impact of specified changes in interest rates on profit or loss. The scenarios are prepared only for liabilities representing the Group’s most significant interest-bearing positions. Based on the various scenarios, the Group manages its exposure to cash flow interest rate risk. During the six-month periods ended 30 June 2026 and 30 June 2025, the Group did not use any instruments hedging interest rate risk. The Group estimates that an increase in interest rates of 1 percentage point would increase its annual interest expense by approximately PLN 18 million. LIQUIDITY RISK The Group monitors the risk of shortage of funds using a periodic liquidity planning tool. This tool takes into account the maturity dates of both investments and financial assets (e.g. receivables and other financial assets), as well as forecast cash flows from operating activities. CAPITAL MANAGEMENT The primary objective of the Group’s capital management is to maintain a good credit rating and safe capital ratios that support the Group’s operating activities and increase value for shareholders. The Group manages its capital structure and adjusts it in response to changes in economic conditions. In order to maintain or adjust the capital structure, the Group may change dividend payments to shareholders, return capital to shareholders or issue new shares.
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85 Financial Report of Wirtualna Polska Holding SA Group for the period of 6 months ended 3 0 June 2026 [ONLY TRANSLATION] Raport finansowy Grupy Kapitałowej Wirtualna Polska Holding SA za okres 3 i 6 miesięcy zakończonych 30 czerwca 202 6 roku The Group monitors its capital using a leverage ratio calculated as the ratio of net debt to total equity increased by net debt. Net debt includes interest-bearing loans and borrowings reduced by cash and cash equivalents. Depending on the current level of acquisition activity, the leverage ratio may fluctuate significantly. The Group continuously monitors the ratio and optimizes its capital structure in order to increase shareholder value while maintaining the Company’s financial stability. 32. RELATED PARTY DISCLOSURES As at 30 June 2026, there was no single entity exercising sole control over the Group. Nevertheless, due to their share in the total number of votes at the General Meeting, the Founders (i.e. Jacek Świderski, Michał Brański and Krzysztof Sierota) and compa nies controlled by them (the Founders, pursuant to the shareholders’ agreement concluded on 19 March 2015 by the Founders and their subsidiaries, constituting an agreement regarding concerted voting at the Company’s General Meeting and pursuing a long -term policy towards the Company, exercise voting rights jointly) may exert a decisive influence over decisions concerning the most important corporate matters, such as appointment and dismissal of the President of the Management Board, appointment and dismissal of Supervisory Board members, amendments to the Articles of Association, issuance of new shares, reduction of the Company’s share capital, issuance of convertible bonds, dividend payments and other actions which, pursuant to the Polish Commercial Companies Code, require an ordinary or qualified majority of votes at the General Meeting. The ultimate parent entity of the Capital Group is Wirtualna Polska Holding SA. The following transactions were concluded with related parties: PLN'000 Six months ended 30 June 2026 (unaudited) Six months ended 30 June 2025 (unaudited) Purchase: A subsidiary of a member of the Supervisory Board of the parent company 541 736 Associates 12 5 Total 553 740 Sales: Associates 234 191 Total 234 191 As at 30 June 2026 and 31 December 2025, the Group had The following balances with related parties: PLN’000 As of 30 June 2026 (unaudited) As of 31 December 2025 Liabilities: A subsidiary of a member of the Supervisory Board of the parent company 46 89 Total 46 89 Receivables: Associates 277 270 Total 277 270 Loans: Members of the Management Board of the parent company 5 442 5 446 Total 5 442 5 446
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86 Financial Report of Wirtualna Polska Holding SA Group for the period of 6 months ended 3 0 June 2026 [ONLY TRANSLATION] Raport finansowy Grupy Kapitałowej Wirtualna Polska Holding SA za okres 3 i 6 miesięcy zakończonych 30 czerwca 202 6 roku Compensation due to or paid to Members of the Management Board and Supervisory Board of the Parent Company during the current and prior reporting periods is presented in The following table. PLN'000 Six months ended 30 June 2026 (unaudited) Six months ended 30 June 2025 (unaudited) Short-term employee benefits (salaries and mark-ups) 5 277 3 298 Stock-based incentive scheme 563 563 Total 5 840 3 861 33. NOTES TO THE STATEMENT OF CASH FLOWS As at each balance sheet date, all cash and cash equivalents comprised cash held in bank accounts and cash held by the Group companies. PLN'000 Six months ended 30 June 2026 (unaudited) Six months ended 30 June 2025 (unaudited, adjusted) Change in receivables and other short-term assets arises from The following items: (153 192) (29 270) Change in receivables and other short-term assets per balance sheet (150 185) (585 737) Change in long-term receivables per balance sheet 1 998 (1 557) Change in assets relating to financing and acquisition activities (5 005) - Receivables and other assets of companies as of the date of obtaining control - 557 809 Other - 215 Change in short-term liabilities arises from The following items: 388 843 189 962 Change in short-term liabilities per balance sheet 418 771 931 694 Adjustment for a change in investment liabilities 6 357 19 266 Adjustment due to change in dividend liabilities (38 743) (65 506) Balance of operating liabilities assumed as a result of taking control - (697 609) Change in long-term deferred income 2 512 2 866 Change in liabilities in respect of financial activities - (717) Other (54) (32) Change in inventories arises from The following items: 10 380 (328) Change in inventories per balance sheet 10 391 (328) Other (11) - Change in provisions arises from The following items: (51) 669 Change in provisions per balance sheet (51) 1 664 Provisions taken over as a result of obtaining control - (995) Purchase of shares in a subsidiary - (877 093) Nominal purchase price - (1 041 524) Cash and cash equivalents in Subsidiaries as of the date of the acquisition’s settlement - 164 431 34. INFORMATION ON GUARANTEES GRANTED, SURETIES FOR LOANS OR BORROWINGS Guarantees granted to entities outside the Group During the analyzed period, none of the Group companies granted sureties for loans or borrowings, nor granted guarantees to a single entity or its subsidiary with a total value equal to at least 10% of the Group’s equity.
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87 Financial Report of Wirtualna Polska Holding SA Group for the period of 6 months ended 3 0 June 2026 [ONLY TRANSLATION] Raport finansowy Grupy Kapitałowej Wirtualna Polska Holding SA za okres 3 i 6 miesięcy zakończonych 30 czerwca 202 6 roku Intra-group guarantees The guarantors of the credit facility agreement effective as at the reporting date, concluded on 20 March 2024 between Wirtualna Polska Media SA, Wirtualna Polska Holding SA and mBank SA, Powszechna Kasa Oszczędności Bank Polski SA, ING Bank Śląski SA, Bank Polska Kasa Opieki SA, BNP Paribas Bank Polska SA and Bank Handlowy w Warszawie S.A., are: Wirtualna Polska Holding SA, Wirtualna Polska Media SA, Totalmoney.pl Sp. z o.o., Wakacje.pl SA, Audioteka Group Sp. z o.o., Nocowanie.pl Sp. z o.o., Extradom.pl S p. z o.o., WP Naturalnie Solar 1 Sp. z o.o., WP Naturalnie Solar 2 Sp. z o.o., Szallas Group Zrt, Online Holding s.r.o., Invia cz. a.s., Invia Group SE and Invia Travel Germany GmbH. Apart from the information presented above, no other significant events occurred up to the date of preparation of this report. 35. OTHER INFORMATION WHICH, IN THE GROUP’S OPINION, IS MATERIAL FOR THE ASSESSMENT OF THE GROUP’S EMPLOYMENT, ASSET AND FINANCIAL POSITION, FINANCIAL RESULTS AND CHANGES THERETO, AS WELL AS INFORMATION MATERIAL FOR THE ASSESSMENT OF THE GROUP’S ABILITY TO MEET ITS OBLIGATIONS In 2026, geopolitical risk associated with the situation in the Middle East remains elevated, particularly due to the ongoing conflict involving Iran and the United States, as well as continuing tensions and military operations in the region. This situation increases uncertainty in the global economy and may affect, among other factors, energy commodity markets, fuel prices, international transportation costs and the functioning of global supply chains. The Group is indirectly exposed to the risk of changes in demand in the International Travel business area, particularly in relation to travel to Turkey and Egypt, which accounts for a significant portion of sales generated by tour operator partners in the Group’s key markets. Destinations that have been completely withdrawn from sale due to the geopolitical situation account for less than 5% of the Travel segment’s sales and their impact is considered immaterial from the perspective of the financial statements. However, the impact of further geopolitical developments and macroeconomic factors, including exchange rate and fuel price volatility, on the Group’s future demand, revenue and financial performance remains subject to uncertainty. The Management Board analysed the impact of these circumstances on the estimates and judgements adopted, particularly with regard to the assessment of impairment indicators for assets and the Group’s ability to continue as a going concern. As of the date of preparation of these financial statements, based on the analysis performed, the Group did not identify any indicators of potential impairment of assets allocated to the Travel segment. This assessment takes into account, in particular, the current performance of the Summer 2026 season, the results of which indicate a solid trend and a recovery in the segment’s operations. Consequently, as of the date of preparation of these financial statements, the geopolitical situation in the Middle East was not considered an impairment indicator requiring an impairment test to be performed in respect of these assets. No circumstances indicating the existence of material uncertainty regarding the Group’s ability to continue as a going concern were identified. The Management Board continuously monitors geopolitical developments and their impact on the Group’s operations and will update the assumptions and estimates adopted, where appropriate, in response to changes in market conditions. Apart from the matters presented in this document and in the Management Board’s commentary, no other events occurred up to the publication date of this report that would be material to the assessment of the Group’s ability to meet its obligations. In the opinion of the Management Board of Wirtualna Polska Holding SA, the information presented provides a comprehensive description of the Group’s employment, asset and financial position, and no other events occurred that were not disclosed by the Company and that could be considered material to the assessment of this position.
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88 Financial Report of Wirtualna Polska Holding SA Group for the period of 6 months ended 3 0 June 2026 [ONLY TRANSLATION] Raport finansowy Grupy Kapitałowej Wirtualna Polska Holding SA za okres 3 i 6 miesięcy zakończonych 30 czerwca 202 6 roku 36. EVENTS AFTER THE BALANCE SHEET DATE In July and August 2026, the subsidiary Wirtualna Polska Media SA received corporate income tax refunds for the years 2020–2023 totaling PLN 56.1 million in connection with the adjustment of overpaid CIT following the application of the IP Box tax relief, as described in more detail in Note 17, “Current and deferred income tax”, to this financial report.
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89 Financial Report of Wirtualna Polska Holding SA Group for the period of 6 months ended 3 0 June 2026 [ONLY TRANSLATION] Raport finansowy Grupy Kapitałowej Wirtualna Polska Holding SA za okres 3 i 6 miesięcy zakończonych 30 czerwca 202 6 roku CONDENSED INTERIM SEPARATE FINANCIAL STATEMENTS OF WIRTUALNA POLSKA HOLDING FOR THE SIX-MONTH PERIODS ENDED 30 JUNE 2026 Condensed Interim Separate Financial Statements of Wirtualna Polska Holding for the 6 months period ended 30 June 2026
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90 Financial Report of Wirtualna Polska Holding SA Group for the period of 6 months ended 3 0 June 2026 [ONLY TRANSLATION] Raport finansowy Grupy Kapitałowej Wirtualna Polska Holding SA za okres 3 i 6 miesięcy zakończonych 30 czerwca 202 6 roku CONDENSED INTERIM SEPARATE STATEMENT OF PROFIT OR LOSS AND OTHER COMPREHENSIVE INCOME PLN'000 Note Six months ending 30 June 2026 (unaudited) Six months ending 30 June 2025 (unaudited, adjusted) Three months ending 30 June 2026 (unaudited) Three months ending 30 June 2025 (unaudited, adjusted) Sales - - - --- - Share in the profit/loss of investments accounted for using the equity method 10 57 868 165 71 425 (10 498) Materials and energy used (70) (46) (47) (22) Costs of the employee option scheme (563) (563) (281) (281) External services 17 (2 907) (1 744) (790) (970) Salary and employee benefit expense (1 736) (2 231) (227) (1 009) Other operating expenses (1 098) (411) (965) (187) Profit from valuation of financial investments (175) (3 606) (175) (3 606) Other operating income 4 14 3 2 Income (loss) on operating activity 51 323 (8 422) 68 943 (16 571) Finance income 15 2 791 5 725 1 328 3 127 Finance costs 15 (2 026) (1 205) (2 026) (423) Other profits / (losses) 16 (5 006) - (5 006) - Profit before tax 47 082 (3 902) 63 239 (13 867) Income tax - (171) - (174) Net profit 47 082 (4 073) 63 239 (14 041) Other comprehensive income/(losses) re- classifiable to profit and loss (taking into account the income tax impact of the item): 24 151 1 919 7 105 6 216 Share in other comprehensive income of entities accounted for using the equity method 24 151 1 919 7 105 6 216 Other comprehensive income/(losses) non re- classifiable to profit and loss (taking into account the income tax impact of the item) (556) 556 (371) 556 Profit (loss) on assets measured at fair value through other comprehensive income (556) 556 (371) 556 Comprehensive income 70 677 (1 598) 69 973 (7 269)
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91 Financial Report of Wirtualna Polska Holding SA Group for the period of 6 months ended 3 0 June 2026 [ONLY TRANSLATION] Raport finansowy Grupy Kapitałowej Wirtualna Polska Holding SA za okres 3 i 6 miesięcy zakończonych 30 czerwca 202 6 roku CONDENSED INTERIM SEPARATE STATEMENT OF FINANCIAL POSITION PLN'000 Note As of 30 June 2026 (unaudited) As of 31 December 2025 (adjusted) Non-current assets Investments accounted for using the equity method 10 761 692 724 848 Other shares and equity interests 11 12 582 13 313 Loans granted 11 69 390 69 290 843 664 807 451 Current assets Inventories Loans granted 11 3 992 3 839 Trade receivables and other assets 56 695 16 099 Cash and cash equivalents 42 645 49 191 103 332 69 129 TOTAL ASSETS 946 996 876 580 Equity Share capital 12 1 489 1 489 Supplementary capital 340 674 340 674 Treasury shares (226 671) - Other reserves 352 328 (1 334) Retained earnings 216 784 532 937 684 604 873 766 Long-term liabilities Loans and leases 13 215 081 - 215 081 - Short-term liabilities Loans and leases 13 10 631 2 Trade and other payables 14 36 680 2 434 Current income tax liabilities - 378 47 311 2 814 TOTAL EQUITY AND LIABILITIES 946 996 876 580
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92 Financial Report of Wirtualna Polska Holding SA Group for the period of 6 months ended 3 0 June 2026 [ONLY TRANSLATION] Raport finansowy Grupy Kapitałowej Wirtualna Polska Holding SA za okres 3 i 6 miesięcy zakończonych 30 czerwca 202 6 roku CONDENSED INTERIM SEPARATE STATEMENT OF CHANGES IN EQUITY PLN'000 Share capital Supplementary capital Treasury shares Other reserves Retained earnings Equity Equity as of 1 January 2026 1 489 340 674 - (1 334) 532 937 873 766 Net profit - - - - 47 082 47 082 Other comprehensive income/(loss) - - - 23 595 - 23 595 Total comprehensive income - - - 23 595 47 082 70 677 Share option scheme - - - 563 - 563 Creation of a reserve for the buy-back of shares - - - 329 504 (329 504) - Acquisition of own shares - - (226 671) - - (226 671) Dividend payment - - - (33 731) (33 731) Equity as of 30 June 2026 (unaudited) 1 489 340 674 (226 671) 352 328 216 784 684 604 PLN'000 Share capital Supplementary capital Treasury shares Other reserves Retained earnings Equity Equity as of 1 January 2025 1 481 337 621 - 19 579 87 380 446 061 Changes to accounting principles (policies) - - - (42 311) 560 203 517 892 Equity as of 1 January 2025 (adjusted) 1 481 337 621 - (22 732) 647 583 963 953 Net profit - - - - (27 296) (27 296) Other comprehensive income/(loss) - - - (1 573) - (1 573) Total comprehensive income - - - (1 573) (27 296) (28 669) Share option scheme 8 3 053 - 1 126 - 4 187 Creation of a reserve for the buyback of shares - - - 21 845 (21 845) - Dividend payment - - - - (65 505) (65 505) Equity as of 31 December 2025 (adjusted) 1 489 340 674 - (1 334) 532 937 873 766 PLN'000 Share capital Supplementary capital Treasury shares Other reserves Retained earnings Equity Equity as of 1 January 2025 1 481 337 621 - 19 579 87 380 446 061 Changes to accounting principles (policies) - - - (42 311) 560 203 517 892 Equity as of 1 January 2025 (adjusted) 1 481 337 621 - (22 732) 647 583 963 953 Net profit - - - - (4 073) (4 073) Other comprehensive income/(loss) - - - 2 475 - 2 475 Total comprehensive income - - - 2 475 (4 073) (1 598) Share option scheme 8 3 053 - 563 - 3 624 Creation of a reserve for the buyback of shares - - - 21 845 (21 845) - Dividend payment - - - - (65 505) (65 505) Equity as of 30 June 2025 (unaudited) 1 489 340 674 - 2 151 556 160 900 474
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93 Financial Report of Wirtualna Polska Holding SA Group for the period of 6 months ended 3 0 June 2026 CONDENSED INTERIM SEPARATE STATEMENT OF CASH FLOWS PLN'000 Note Six months ending 30 June 2026 (unaudited) Six months ending 30 June 2025 (unaudited adjusted) Cash flows from operating activities Profit before tax 47 081 (3 902) Adjustments for: (52 889) (516) Share in the profit/(loss) of investments accounted for using the equity method (57 868) (165) Other gains/(losses) 5 006 — Gain/(loss) on remeasurement of financial investments 175 3 606 Finance income and costs (765) (4 520) Cost of the employee share option scheme 563 563 Changes in working capital (583) (3 283) Change in trade and other receivables 18 (958) (1 619) Change in trade and other payables 18 382 (1 693) Change in provisions (6) 29 Interest received on funds in bank accounts 201 445 Income tax paid (378) - Net cash flows from operating activities (6 567) (7 256) Cash flows from investing activities Loans granted (100) - Repayment of interest on loans granted 2 746 4 073 Acquisition of non-current financial assets - (110) Net cash flows from investing activities 2 646 3 963 Cash flows from financing activities Proceeds from an increase in share capital - 3 061 Share buyback (226 671) - Loans and other loans received 225 860 4 Repayment of bank commissions (1 101) (23) Interest paid (935) (643) Repayment of loans received - (609) Net cash flows from financing activities (2 847) 1 790 Total net cash flows (6 768) (1 503) Cash and cash equivalents at the beginning of the period 49 191 46 258 Impact of exchange differences on cash and cash equivalents 222 (476) Cash and cash equivalents at the end of the period 42 645 44 279
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94 Financial Report of Wirtualna Polska Holding SA Group for the period of 6 months ended 3 0 June 2026 1. GENERAL INFORMATION Wirtualna Polska Holding SA (the “Company”) is entered in the Register of Entrepreneurs of the National Court Register maintained by the District Court for the Capital City of Warsaw in Warsaw, 14th Commercial Division of the National Court Register, under KRS number 0000407130. The Company was assigned statistical number REGON 016366823. The registered office of the Company is located in Warsaw at Żwirki i Wigury 16. The Company was established for an indefinite period. The principal activity of the Company is financial holding operations. 2. BASIS FOR PREPARATION OF THE CONDENSED INTERIM FINANCIAL STATEMENTS These condensed interim financial statements have been prepared on a going concern basis in accordance with IAS 34 “Interim Financial Reporting” (“IAS 34”). The accounting policies applied in preparing the condensed interim separate financial statements for the six-month period ended 30 June 2026 are consistent with those applied in preparing the separate financial statements for the year ended 31 December 2025. The financial statements for the year ended 31 December 2025 were prepared in accordance with IFRS applicable in the European Union for the financial year ended 31 December 2025. The separate statement of financial position as of 30 June 2026 and the separate statements of profit or loss and other comprehensive income, cash flows and changes in equity for the six-month period ended 30 June 2026 have not been audited by a statutory auditor. The separate financial statements as of 31 December 2025 and for the twelve-month period ended 31 December 2025 were audited by a statutory auditor, who issued an unqualified opinion. These condensed interim separate financial statements should be read in conjunction with the audited annual separate financial statements for 2025. As the Parent Company, the Company prepared condensed interim consolidated financial statements, which were approved by the Management Board on 7 September 2026. These financial statements should be read in conjunction with the consolidated financial statements. 3. CORRECTIONS OF PRIOR-PERIOD ERRORS AND RESTATEMENT OF COMPARATIVE INFORMATION In 2025, the Company changed its accounting policy for the measurement of investments in subsidiaries presented exclusively in the separate financial statements. In previous years, in accordance with IAS 27, these investments were measured at cost. Beginning with the 2025 financial year, the Company applies the equity method to measure these investments. The change in accounting policy has no impact on the Group’s consolidated financial statements prepared in accordance with IFRS. As a result of the change in accounting policy, the Company retrospectively restated the comparative information, with the cumulative effect of the change recognized in retained earnings or other reserves. The tables below present the impact of the change in accounting policy on the respective statement of financial position and profit or loss items in the financial statements.
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95 Financial Report of Wirtualna Polska Holding SA Group for the period of 6 months ended 3 0 June 2026 STATEMENT OF PROFIT OR LOSS AND OTHER COMPREHENSIVE INCOME PLN'000 Six months ending 30 June 2025 (unaudited) Adjustment Six months ending 30 June 2025 (unaudited, adjusted) Share in the profits/losses of investments accounted for using the equity method - 165 165 Dividends received 92 033 (92 033) - Income (loss) on operating activity 83 446 (91 868) (8 422) Profit before tax 87 966 (91 868) (3 902) Net profit 87 795 (91 868) (4 073) Other comprehensive income/(losses) re-classifiable to profit and loss (taking into account the income tax impact of the item): - 1 919 1 919 Exchange rate differences arising from the translation of foreign currency units - 1 919 1 919 Comprehensive income 88 351 (89 949) (1 598) STATEMENT OF CASH FLOWS PLN'000 Six months ending 30 June 2025 (unaudited) Adjustment Six months ending 30 June 2025 (unaudited, adjusted) Cash flows from operating activities Profit before tax 87 966 (91 868) (3 902) Adjustments for: Share in the profit/loss of investments accounted for using the equity method - (165) (165) Dividends received (92 033) 92 033 - Other operating cash flows (3 283) 445 (2 838) Net cash flows from operating activities (7 701) 445 (7 256) Net cash flows from investing activities 3 963 - 3 963 Net cash flows from financing activities 2 235 (445) 1 790 Total net cash flows (1 503) - (1 503) Cash and cash equivalents at the beginning of the period 46 258 - 46 258 The impact of exchange rate fluctuations on cash and cash equivalents (476) - (476) Cash and cash equivalents at the end of the period 44 279 - 44 279 Compared with the information presented in the Company’s separate financial statements as of 31 December 2025, The following presentational change was also made to ensure compliance with IFRS: • In previous periods, the Company presented the provision for unused annual leave under Provisions for employee benefits. In the current year, the Company changed its presentation and now presents the provision under Trade and other payables. Additionally, following the adjustment to the Group’s financial result for 2025 presented in the consolidated financial statements, the Company restated the comparative information in its separate statement of financial position as of 31 December 2025. The adjustment is described in Note 2, in the section entitled Corrections of errors and restatement of comparative information, of the Group’s condensed interim consolidated financial statements for the six-month period ended 30 June 2026.
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96 Financial Report of Wirtualna Polska Holding SA Group for the period of 6 months ended 3 0 June 2026 The above changes are presented in the table below. STATEMENT OF FINANCIAL POSITION PLN'000 As of 31 December 2025 Adjustment As of 31 December 2025 (adjusted) Non-current assets Investments accounted for using the equity method 716 052 8 796 724 848 798 655 8 796 807 451 TOTAL ASSETS 867 784 8 796 876 580 Equity Other reserves (1 279) (55) (1 334) Retained earnings 524 086 8 851 532 937 864 970 8 796 873 766 Current liabilities Trade and other payables 2 416 18 2 434 Provisions for employee benefits 18 (18) - 2 814 - 2 814 TOTAL EQUITY AND LIABILITIES 867 784 8 796 876 580 4. NEW AND AMENDED STANDARDS AND INTERPRETATIONS In these condensed interim separate financial statements, the Company applied The following amendments to standards and interpretations approved by the European Union with an effective date for annual periods beginning on or after 1 January 2026: IFRS 9 and IFRS 7: Amendments to the classification and measurement of financial instruments In May 2024, the IASB issued amendments to IFRS 9 and IFRS 7 covering: a) clarification of the requirements for the recognition and derecognition of financial assets and financial liabilities. In particular, a financial liability is derecognized on the “settlement date”. The amendments also introduce an accounting policy option to derecognize financial liabilities settled through an electronic payment system before the settlement date, provided that specified conditions are met; b) additional guidance on how to assess the contractual cash flow characteristics of financial assets with terms linked to environmental, social and governance (ESG) matters and other similar features; c) additional clarification regarding assets with non -recourse features and contractually linked instruments; and; d) new disclosure requirements for financial assets and financial liabilities with contingent features and equity instruments measured at fair value through other comprehensive income. Annual Improvements to IFRS Accounting Standards – Volume 11 In July 2024, the IASB issued nine narrow-scope amendments as part of its periodic review of IFRS Accounting Standards. The amendments include clarifications, simplifications, corrections and changes intended to improve consistency in The following standards: IFRS 1 First-time Adoption of International Financial Reporting Standards, IFRS 7 Financial Instruments: Disclosures and the accompanying Guidance on Implementing IFRS 7, IFRS 9 Financial Instruments, IFRS 10 Consolidated Financial Statements and IAS 7 Statement of Cash Flows. Amendments to IFRS 9 and IFRS 7: Contracts Referencing Nature-dependent Electricity In December 2024, the IASB issued amendments to IFRS 9 and IFRS 7 – Contracts Referencing Nature - dependent Electricity. The amendments apply only to contracts referencing nature-dependent electricity and:
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97 Financial Report of Wirtualna Polska Holding SA Group for the period of 6 months ended 3 0 June 2026 a) clarify when contracts referencing nature-dependent electricity may be excluded from the scope of IFRS 9 as contracts entered into for “own use”; b) amend the requirements for designating a hedged item in cash flow hedging relationships involving contracts within the scope of the amendments; and c) introduce new disclosure requirements to enable investors to understand the effect of these contracts on an entity’s financial performance and cash flows. The application of the above amendments did not have a material impact on the Company’s accounting policies, financial results or financial position in the current reporting period. The Company did not elect to early adopt any standard, interpretation or amendment that had been issued but was not yet effective under European Union regulations. Standards and interpretations issued but not yet effective: • IFRS 18 Presentation and Disclosures in Financial Statements In April 2024, the International Accounting Standards Board published a new standard, IFRS 18 “Presentation and Disclosures in Financial Statements” (hereinafter: “IFRS 18”), which will replace IAS 1 “Presentation of Financial Statements”. IFRS 18 will apply to annual reporting periods beginning on or after 1 January 2027. The analysis of the impact of the implementation of IFRS 18 is ongoing. The Company expects that the new standard will primarily affect the presentation and extent of financial information disclosures, without having a material impact on the financial results presented. • IFRS 19 Subsidiaries without Public Accountability: Disclosures; • Amendments to IFRS 19 Subsidiaries without Public Accountability: Disclosures; • Amendments to IAS 21 The Effects of Changes in Foreign Exchange Rates – Translation to a Hyperinflationary Presentation Currency; • Amendments relating to the fair value measurement option in IAS 28 Investments in Associates and Joint Ventures; and • IFRS 20 Regulatory Assets and Regulatory Liabilities. 5. APPROVAL OF THE SEPARATE FINANCIAL STATEMENTS FOR PUBLICATION These condensed interim separate financial statements were approved for publication by the Management Board on 7 September 2026. 6. SIGNIFICANT JUDGMENTS AND ESTIMATES The key accounting estimates and assumptions applied in these condensed interim separate financial statements were the same as those applied in the financial statements for the year ended 31 December 2025. DEFERRED TAX ASSET As a result of the transition to IFRS, the value of shares held in Wirtualna Polska Media SA decreased by PLN 148,155 thousand due to the measurement of these shares at fair value. This resulted in a deductible temporary difference on this investment amounting to PLN 148,155 thousand. Due to the fact that the Company does not plan to sell the held shares in the foreseeable future, in accordance with IAS 12 paragraph 44, the financial statements do not recognize a deferred tax asset related to this temporary difference in the amount of PLN 28,155 thousand. Additionally, on 25 November 2016, the Company entered into an agreement regarding the early settlement of earn-out amounts resulting from the acquisition agreement of shares in NextWeb Media sp. z o.o. The amount paid in this respect totaled PLN 15.5 million and was PLN 3,431 thousand higher than the discounted value of this liability originally recognized in the accounting acquisition price of the shares. The entire amount paid was recognized as the tax acquisition cost of shares in NextWeb Media sp. z o.o. (and after the merger – shares in Wirtualna Polska
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98 Financial Report of Wirtualna Polska Holding SA Group for the period of 6 months ended 3 0 June 2026 Media SA). As a result of this tax treatment, a temporary difference arose in the value of the shares, for which the Company did not recognize a deferred tax asset. Due to the nature of the Company’s activities (holding activities) and the fact that its income is primarily generated in the form of dividends received from subsidiaries, it was concluded that, in subsequent years, neither the deferred tax asset nor the deferred tax liability relating to capital and operating activities would be recoverable or settled. Accordingly, as at 30 June 2026, the Company did not recognise a deferred tax asset or deferred tax liability. As at 30 June 2026, the total amount of tax losses for which no deferred tax asset was recognised amounted to PLN 135,605 thousand. IMPAIRMENT OF INVESTMENTS IN SUBSIDIARIES An impairment loss on investments in subsidiaries is recognized when there is objective evidence that events have occurred which may negatively affect the value of future cash flows associated with a given asset. Where the carrying amount of an asset exceeds its recoverable amount, the asset is considered impaired and its value is written down to the recoverable amount. Impairment losses are recognized in profit or loss. Impairment losses are reversed if a subsequent increase in recoverable amount can be objectively attributed to an event occurring after the impairment loss was recognized. IMPAIRMENT OF FINANCIAL ASSETS – LOANS The amount of impairment allowances for loans measured at amortized cost is determined in accordance with the three-stage expected credit loss model. The Company performed an individual analysis of each loan in order to assign these items to one of the three stages. Subsequently, the probability of default was determined. Expected credit loss was calculated based on the probability of default and the repayment profile agreed in the loan agreement. 7. CHANGES IN IMPAIRMENT ALLOWANCES FOR ASSETS The Management Board did not identify any indicators of impairment of investments in other subsidiaries; therefore, no update of the tests performed as at 31 December 2025 was carried out. 8. PROPERTY, PLANT AND EQUIPMENT AND INTANGIBLE ASSETS During the period from 1 January 2026 to 30 June 2026, the Company did not make investments in property, plant and equipment or intangible assets. 9. RELATED PARTY TRANSACTIONS The table below presents the value of transactions concluded with related parties. PLN'000 Six months ending 30 June 2026 (unaudited) Six months ending 30 June 2025 (unaudited, adjusted) Purchase 31 96 Subsidiaries 31 96 Other income (including income from the sale of shares) 40 1 760 Subsidiaries 40 1 760 Interest income, guarantees, dividends and reversals of impairment losses on loans granted 2 304 5 273 Subsidiaries 2 304 5 273 Guarantee costs - 42 Subsidiaries - 42
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99 Financial Report of Wirtualna Polska Holding SA Group for the period of 6 months ended 3 0 June 2026 The table below presents balances with related parties as at the balance sheet date. PLN'000 As of 30 June 2026 (unaudited) As of 31 December 2025 Receivables - 42 Subsidiaries - 42 Loans and guarantees granted 73 585 73 332 Subsidiaries 73 585 73 332 Liabilities 36 40 Subsidiaries 36 40 Compensation due to or paid to Members of the Management Board and Supervisory Board of the Company. PLN'000 Six months ending 30 June 2026 (unaudited) Six months ending 30 June 2025 (unaudited) Short-term employee costs (salaries and related benefits) 858 660 Incentive scheme - share-based payments 563 563 Total 1 421 1 223 10. INVESTMENTS ACCOUNTED FOR USING THE EQUITY METHOD The structure of investments in subsidiaries accounted for using the equity method as at 30 June 2026 and 31 December 2025 was as follows: Subsidiaries Place of business The size of the ownership share held As of 30 June 2026 (unaudited) As of 31 December 2025 (adjusted) Wirtualna Polska Media S.A. Poland 100% 636 384 599 774 Extradom.pl Sp. z o.o. Poland 100% 71 023 69 173 Superauto.pl Sp. z o.o. Poland 51% 54 285 55 871 RD Plus Sp. z o.o. Poland 100% - - WP Travel SA Poland 100% - 30 WP Consumer Finance Sp. z o.o. Poland 100% - - Total 761 692 724 848 Change in investment status WP Media Extradom Superauto RD Plus WP Travel WP Consumer Finance Total Investment value as of 1 January 2025 724 247 66 464 51 242 - - - 841 953 Acquisition of a subsidiary - - - - 100 5 105 Share in the profit or loss (32 159) 2 709 6 661 - (70) (5) (22 864) Share in other comprehensive income (2 314) - - - - - (2 314) Dividends received (90 000) - (2 032) - - - (92 032) Investment value as of 31 December 2025 (adjusted) 599 774 69 173 55 871 - 30 - 724 848 Acquisition of a subsidiary - - - - - - - Share in the profit or loss 52 459 1 850 3 589 - (30) - 57 868 Share in other comprehensive income 24 151 - - - - - 24 151 Dividends received (40 000) - (5 175) - - - (45 175) Investment value as of 30 June 2026 (unaudited) 636 384 71 023 54 285 - - - 761 692
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100 Financial Report of Wirtualna Polska Holding SA Group for the period of 6 months ended 3 0 June 2026 11. FINANCIAL ASSETS PLN'000 As of 30 June 2026 (unaudited) As of 31 December 2025 Shares and equity interests measured at fair value 12 582 13 313 Loans granted – amortised cost 73 382 73 129 Total 85 964 86 442 Loans granted In the first half year of 2026, the Company granted a loan to its subsidiary WP Travel in the amount of PLN 100 thousand. 12. EQUITY Detailed information regarding the structure and changes in the Company’s equity, as well as the approved dividend payment, is presented in Note 23 to the condensed consolidated financial statements. 13. LOANS AND BORROWINGS RECEIVED PLN'000 As of 30 June 2026 (unaudited) As of 31 December 2025 Long-term Bank loans 215 081 - 215 081 - Short-term Bank loans 10 631 2 10 631 2 The Company is a party to a facility agreement entered into on 20 March 2024. The agreement was entered into between Wirtualna Polska Holding, Wirtualna Polska Media SA and Wakacje.pl SA as Borrowers; TotalMoney.pl Sp. z o.o., Stacja Służew Sp. z o.o., Aud ioteka Group Sp. z o.o., Nocowanie.pl Sp. z o.o., Extradom.pl Sp. z o.o., WP Naturalnie Solar 1 Sp. z o.o., WP Naturalnie Solar 2 Sp. z o.o., Szallas Group Zártkörűen Működő Részvénytársaság, Szallas.hu Zártkörűen Működő Részvénytársaság and Online Holding s.r.o. as Guarantors; and a syndicate of banks comprising mBank SA as Facility Agent, Powszechna Kasa Oszczędności Bank Polski SA, ING Bank Śląski SA, Bank Polska Kasa Opieki SA and BNP Paribas Bank Polska SA as Lenders. On 30 March 2026, an amendment was entered into in respect of the aforementioned facility agreement dated 20 March 2024 (the “Facility Agreement”) between Wirtualna Polska Holding SA and Wirtualna Polska Media SA as Borrowers (the “Borrowers”); TotalMoney.pl Sp. z o.o., Wakacje.pl SA, Audioteka Group Sp. z o.o. and other subsidiaries of the Company as Guarantors; and a syndicate of banks comprising mBank SA as Facility Agent, Powszechna Kasa Oszczędności Bank Polski SA, ING Bank Śląski SA, Bank Polska Kasa Opieki SA, BNP Paribas Bank Polska SA and Bank Handlowy SA as Lenders. Pursuant to the Amendment: WPH joined the Credit Facility Agreement as a Borrower, enabling the Company to utilize the facilities (including the Capex facility and guarantee line facilities); financing available under the Capex facility tranche was increased by PLN 220 million (to a total amount of PLN 405 million); the Lenders granted guarantee line facilities in the total amount of PLN 400 million On 5 June 2026, WPH received proceeds of PLN 225.9 million under the Facility Agreement to which it had acceded.
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101 Financial Report of Wirtualna Polska Holding SA Group for the period of 6 months ended 3 0 June 2026 In accordance with the current repayment schedule, as of 30 June 2026 the Company is required to repay the indebtedness as follows: 2026 Capex Facility Tranche 1, up to a maximum amount of PLN 162.2 million, in seventeen equal quarterly instalments commencing in the first quarter of 2027; and 2026 Capex Facility Tranche 2, up to a maximum amount of PLN 243.3 million, on the final maturity date falling in the first quarter of 2031.; 14. TRADE AND OTHER PAYABLES PLN'000 As of 30 June 2026 (unaudited) As of 31 December 2025 (adjusted) Current liabilities: Cash trade payables 2 607 1 743 Dividend payable 33 731 - Liabilities to public authorities 87 577 Employee-related liabilities 114 114 Other 140 - Total 36 680 2 434 15. FINANCE INCOME AND FINANCE COSTS The tables below present finance income and finance costs for the three- and six-month periods ended 30 June 2026 and 2025. PLN'000 Six months ending 30 June 2026 (unaudited) Six months ending 30 June 2025 (unaudited) Three months ending 30 June 2026 (unaudited) Three months ending 30 June 2025 (unaudited) Interest on loans 2 505 3 615 1 295 1 807 Foreign exchange gains (net) 286 - 286 - Income from guarantees - 2 104 - 1 314 Other - 6 (253) 6 Total 2 791 5 725 1 328 3 127 PLN'000 Six months ending 30 June 2026 (unaudited) Six months ending 30 June 2025 (unaudited) Three months ending 30 June 2026 (unaudited) Three months ending 30 June 2025 (unaudited) Interest and commissions 2 026 654 2 026 326 Currency exchange differences (net) - 503 - 74 Guarantees costs - 43 - 22 Other - 5 - 1 Total 2 026 1 205 2 026 423 16. OTHER GAINS/(LOSSES) PLN'000 Six months ending 30 June 2026 (unaudited) Six months ending 30 June 2025 (unaudited) Three months ending 30 June 2026 (unaudited) Three months ending 30 June 2025 (unaudited) Revaluation of financial and investment receivables (5 006) - (5 006) - Total (5 006) - (5 006) - As of 30 June 2026, the Management Board reassessed the recoverability of the financial receivable and concluded that the probability of receiving the related cash inflows was insufficient to support the continued recognition of the asset.
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102 Financial Report of Wirtualna Polska Holding SA Group for the period of 6 months ended 3 0 June 2026 17. EXTERNAL SERVICES External services comprise mainly legal advisory, consulting and audit services. In the first half of 2026, legal advisory costs were higher than in the corresponding period of the previous year due to advisory services related to the one-off share buyback. 18. NOTES TO THE STATEMENT OF CASH FLOWS PLN'000 Six months ending 30 June 2026 (unaudited) Six months ending 30 June 2025 (unaudited, adjusted) Change in receivables and short-term assets arises from The following items: (958) (1 619) Change in trade receivables and other receivables per balance sheet (40 596) (93 015) Guarantees granted - 2 104 Adjustment for change in VAT settlements on accrued interest (509) (708) Adjustment for a change in the dividend receivables 45 175 90 000 Adjustment for the change in short-term financial assets (5 028) - Change in short-term liabilities arises from The following items: 382 (1 693) Change in trade liabilities, accruals, operating provisions and other longterm liabilities per balance sheet 34 246 61 814 Adjustment for change in liabilities in respect of financing activities (141) (43) Adjustment for a change in the dividend liability (33 731) (63 472) Other 8 8 19. EVENTS AFTER THE BALANCE SHEET DATE No significant events occurred after the balance sheet date other than those described in Note 36 to the condensed consolidated financial statements.