Interim report
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CONDENSED FINANCIAL STATEMENTS for the 3rd quarter of 2026 drawn up in accordance with with International Standards Financial Reporting approved for use by the EU
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WAWEL S.A. Financial Statements for Q3 2026 in accordance with EU IFRS 2 Table of contents 1. FIN AN CIAL STATEMEN TS ................................ ................................ ............................. 3 1.1. INTERIM CONDENSED STATEMENT OF FINANCIAL POSITION ........................................................................... 3 1.2. INTERIM CONDENSED STATEMENT OF COMPREHENSIVE INCOME .................................................................. 5 1.3. INTERIM CONDENSED STATEMENT OF CHANGES IN EQUITY ............................................................................ 6 1.4. INTERIM CONDENSED STATEMENT OF CASH FLOWS ........................................................................................ 8 2. ADDITION AL INFORM ATION ................................ ................................ ........................ 9 2.1. General information .......................................................................................................................................... 9 2.2. Characteristics of financial results achieved in the reporting period. ............................................................. 10 2.3. Application of International Financial Reporting Standards. ........................................................................... 15 2.4. Significant values based on professional judgment and estimates. ................................................................ 16 2.5. Other explanatory information to the financial statements. .......................................................................... 17
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| in PLN thousand, unless otherwise stated WAWEL S.A. Condensed Financial Statements for Q3 2026 in accordance with EU IFRS 3 1. FINANCIAL STATEMENTS 1.1. INTERIM CONDENSED STATEMENT OF FINANCIAL POSITION ASSETS As of 30.09.2026 As of 30.06.2026 As of 31.12.2025 As of 30.09.2025 Unaudited Unaudited Audited Unaudited Non-current assets 420 062 422 181 405 832 382 564 Property, plant and equipment 315 510 318 119 316 126 313 444 Value for Money 2 008 2 008 2 008 2 008 Intangible assets 33 532 33 817 26 974 4 500 Long-term receivables 108 122 119 255 Long-term financial assets 61 725 61 730 52 741 52 746 Shares in associates measured using the equity method 0 0 0 40 Other long-term financial assets 61 725 61 730 52 741 52 706 Long-term accruals 69 61 52 52 Deferred tax assets 7 110 6 324 7 812 9 559 Current assets 530 955 472 907 490 560 492 616 Inventory 107 970 105 140 121 960 115 487 Short-term receivables 119 892 94 482 145 862 132 448 Receivables for supplies and services and other receivables 119 892 94 482 145 862 132 448 CIT receivables 0 0 0 0 Assets for sale 0 0 2 052 0 Short-term accruals 2 997 3 941 765 2 463 Cash and other financial assets 300 096 269 344 219 921 242 218 Cash 164 203 160 545 131 071 154 441 Other financial assets 135 893 108 799 88 850 87 777 TOTAL ASSETS 951 017 895 088 896 392 875 180
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| in PLN thousand, unless otherwise stated WAWEL S.A. Condensed Financial Statements for Q3 2026 in accordance with EU IFRS 4 EQUITY AND LIABILITIES As of 30.09.2026 As of 30.06.2026 As of 31.12.2025 As of 30.09.2025 Unaudited Unaudited Audited Unaudited Total equity 839 293 804 290 799 249 760 711 Share capital 7 499 7 499 7 499 7 499 Own shares (106 218) (106 218) (106 218) (106 218) Capital from the issue of shares above their nominal value 18 146 18 146 18 146 18 146 Supplementary capital 379 141 379 141 339 737 339 725 Reserve capital 456 580 456 580 456 580 456 580 Revaluation capital 685 685 685 696 Other capital components 12 543 6 883 (1 618) (2 740) Retained earnings/uncovered losses 70 917 41 574 84 438 47 023 Total liabilities 111 724 90 798 97 143 114 469 Non-current liabilities and provisions for liabilities 16 837 17 324 18 997 20 558 Provision for pension and similar benefits 13 583 13 583 13 583 13 133 Long-term liabilities 3 254 3 741 5 414 7 425 Short-term liabilities 94 887 73 474 78 146 93 911 Payables and other liabilities 61 930 46 283 48 779 68 772 CIT liabilities 6 765 3 232 5 888 2 157 Employee benefits liabilities 23 181 22 099 23 019 20 109 Accruals 3 011 1 860 460 2 873 TOTAL EQUITY AND LIABILITIES 951 017 895 088 896 392 875 180
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| in PLN thousand, unless otherwise stated WAWEL S.A. Condensed Financial Statements for Q3 2026 in accordance with EU IFRS 5 1.2. INTERIM CONDENSED STATEMENT OF COMPREHENSIVE INCOME Q3 2026 Q1 – Q3 2026 Q3 2025 Q1 – Q3 2025 Unaudited Unaudited Audited Unaudited Revenue 168 004 470 431 171 895 500 015 Revenue from contracts with customers 163 675 459 492 167 342 489 081 Retail revenue 4 329 10 939 4 553 10 934 Costs (135 229) (395 435) (151 243) (452 006) Cost of sale (98 184) (289 030) (121 024) (354 789) Other operating revenues / expenses 547 586 160 112 Selling costs (17 292) (50 038) (16 178) (48 364) Management costs (20 300) (56 953) (14 201) (48 965) Operating profit 32 775 74 996 20 652 48 009 Financial revenue 3 282 15 474 4 109 11 843 Financial costs (80) (2 034) 27 (462) Profit before tax 35 977 88 436 24 788 59 390 Income tax (6 634) (17 338) (5 103) (12 186) Net profit from continuing operations 29 343 71 098 19 685 47 204 Items not subject to reclassification to profit or loss 5 660 14 161 0 0 Gains and losses on the valuation of long-term Financial Assets 6 536 17 031 0 0 Income tax (876) (2 870) 0 0 TOTAL TOTAL REVENUES 35 003 85 259 19 685 47 204 Basic and diluted earnings/loss per share weighted average of the number of ordinary shares during the period 1 291 846 1 291 846 1 291 846 1 291 846 Profit (loss) per share (in PLN) 22.71 55.04 15.24 36.54 Diluted earnings per share (in PLN) 22.71 55.04 15.24 36.54
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| in PLN thousand, unless otherwise stated WAWEL S.A. Condensed Financial Statements for Q3 2026 in accordance with EU IFRS 6 1.3. INTERIM CONDENSED STATEMENT OF CHANGES IN EQUITY Capital Stock Own shares Surplus from the sale of shares above their nominal value Supplementary capital Reserve capital Revaluation capital Other capital components Previous years' gains/losses Equity TOTAL Q3 2026 (unaudited) As of June 30, 2026 7 499 (106 218) 18 146 379 141 456 580 685 6 883 41 574 804 290 NET Score 0 0 0 0 0 0 0 29 343 29 343 Other Total Income 0 0 0 0 0 0 5 660 0 5 660 Total Revenue Total 0 0 0 0 0 0 5 660 29 343 35 003 As of September 30, 2026 7 499 (106 218) 18 146 379 141 456 580 685 12 543 70 917 839 293 Capital Stock Own shares Surplus from the sale of shares above their nominal value Supplementary capital Reserve capital Revaluation capital Other capital components Previous years' gains/losses Equity TOTAL Q1-Q3 2026 (unaudited) As of December 31, 2025 7 499 (106 218) 18 146 339 737 456 580 685 (1 618) 84 438 799 249 NET Score 0 0 0 0 0 0 0 71 098 71 098 Other Total Income 0 0 0 0 0 0 14 161 0 14 161 Total Revenue Total 0 0 0 0 0 0 14 161 71 098 85 259 Transfer of retained earnings in accordance with the resolution of the General Meeting of Shareholders 0 0 0 39 404 0 0 0 (39 404) 0 Dividends paid 0 0 0 0 0 0 0 (45 215) (45 215) As of September 30, 2026 7 499 (106 218) 18 146 379 141 456 580 685 12 543 70 917 839 293
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| in PLN thousand, unless otherwise stated WAWEL S.A. Condensed Financial Statements for Q3 2026 in accordance with EU IFRS 7 Capital Stock Own shares Surplus from the sale of shares above their nominal value Supplementary capital Reserve capital Revaluation capital Other capital components Previous years' gains/losses Equity TOTAL 2025 (audited) On 31 December 2024 7 499 (106 218) 18 146 278 897 456 580 709 (2 740) 73 553 726 426 NET Score 0 0 0 0 0 0 0 84 619 84 619 Other Total Income 0 0 0 0 0 0 1 122 0 1 122 Total Revenue Total 0 0 0 0 0 0 1 122 84 619 85 741 Transfer of retained earnings in accordance with the resolution of the General Meeting of Shareholders 0 0 0 60 816 0 0 0 (60 816) 0 Posting of revaluation for the liquidation of FA 0 0 0 24 0 (24) 0 0 0 Dividends paid 0 0 0 0 0 0 0 (12 918) (12 918) As of December 31, 2025 7 499 (106 218) 18 146 339 737 456 580 685 (1 618) 84 438 799 249 Capital Stock Own shares Surplus from the sale of shares above their nominal value Supplementary capital Reserve capital Revaluation capital Other capital components Previous years' gains/losses Equity TOTAL Q1 – Q3 2025 (unaudited) On 31 December 2024 7 499 (106 218) 18 146 278 897 456 580 709 (2 740) 73 553 726 426 NET Score 0 0 0 0 0 0 0 47 204 47 204 Total Revenue Total 0 0 0 0 0 0 0 47 204 47 204 Transfer of part of the net profit for supplementary capital 0 0 0 60 815 0 0 0 (60 815) 0 Allocation of a portion of the net profit for dividend 0 0 0 0 0 0 0 (12 919) (12 919) Post a revaluation due to the liquidation of the World Cup 0 0 0 13 0 (13) 0 0 0 As of September 30, 2025 7 499 (106 218) 18 146 339 725 456 580 696 (2 740) 47 023 760 711
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| ADDITIONAL INFORMATION in PLN thousand, unless otherwise stated WAWEL S.A. Condensed Financial Statements for Q3 2026 in accordance with EU IFRS 8 1.4. INTERIM CONDENSED STATEMENT OF CASH FLOWS Q3 2026 Q1-Q3 2026 Q3 2025 Q1-Q3 2025 Unaudited Unaudited Audited Unaudited Net cash flow from operating activities Gross profit (loss) 35 977 88 436 24 788 59 390 Total adjustments (1 986) 49 927 (10 598) 11 730 Depreciation 7 625 21 668 6 842 20 327 Gains (losses) on foreign exchange differences 109 91 (28) 106 Income tax paid (4 762) (18 629) (3 817) (21 008) Interest and dividends (2 791) (9 527) (2 460) (10 828) Profit (loss) on investment activities 70 (2 453) (78) (230) Change in reserves 0 0 0 (25) Change in inventory (2 829) 13 990 13 786 5 466 Change in the balance of receivables (25 453) 25 930 (40 278) 19 323 Change in current liabilities (except loans and credits) 22 035 16 629 14 828 (1 620) Change in accrual status 2 085 303 607 219 Realised result on financial instruments recognised in equity 1 925 1 925 0 0 Net cash flow from operating activities 33 991 138 363 14 190 71 120 Net cash flow from investing activities Disposal of intangible assets and property, plant and equipment 43 118 68 181 Acquisition of intangible assets and property, plant and equipment (10 234) (31 946) (15 387) (25 234) Disposal of financial assets 35 726 153 528 0 46 231 Interest received 1 827 8 443 1 976 9 880 Expenditure on financial assets (57 157) (188 558) (10 043) (157 783) Other capital expenditure 0 (12) 0 0 Net cash flow from investing activities (29 795) (58 427) (23 386) (126 725) Net cash flow from financing activities Dividends and other payments to owners 0 (45 215) (12 918) (12 918) Payments of liabilities under financial lease agreements (460) (1 332) (345) (1 144) Interest on financial lease agreements (78) (257) (197) (458) Net cash flow from financing activities (538) (46 804) (13 460) (14 520) TOTAL NET CASH FLOW 3 658 33 132 (22 656) (70 125) Balance sheet change in cash, including: 3 658 33 132 (22 656) (70 125) Change in cash due to exchange rate differences (100) (11) 231 (1) Cash at the beginning of the period 160 545 131 071 177 097 224 566 Cash at the end of the period 164 203 164 203 154 441 154 441
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| ADDITIONAL INFORMATION in PLN thousand, unless otherwise stated WAWEL S.A. Condensed Financial Statements for Q3 2026 in accordance with EU IFRS 9 2. ADDITIONAL INFORMATION 2.1. General information Legal form and basic subject of activity according to the Polish Classification of Activities (PKD). Wawel Joint Stock Company with its registered office in Krakow. The company is registered in the National Court Register kept by the District Court for Krakow - Śródmieście, XI Commercial Division in Krakow under the number 14525. The company has been assigned a statistical REGON number: 350035154. The main subject of the Company's activity according to the divisions of the Polish Classification of Activities is the production of cocoa, chocolate and confectionery products marked with the symbol (PKD 2007) 1082Z. The Company's shares are traded on the main market of the Warsaw Stock Exchange. According to the classification adopted by the Warsaw Stock Exchange, the Company operates in the food industry sector. Duration of the Company. The duration of the Company is indefinite. Periods for which condensed financial statements and comparable financial data are presented. The presented financial data cover the period from 1 January to 30 September 2026. Comparable data cover the period from 1 January to 30 September 2025 and for the statement of financial position as at 31 December 2025. Information on the composition of the Management Board and the Supervisory Board. MANAGEMENT BOARD: President of the Management Board Dariusz Orłowski Member of the Management Board Rafał Pulit Member of the Management Board Joanna Sztefko Member of the Management Board Tomasz Trela SUPERVISORY BOARD: Chairwoman of the Supervisory Board Laura Opferkuch Deputy Chairman of the Supervisory Board Eugeniusz Małek Secretary of the Supervisory Board Paweł Bałaga Member of the Supervisory Board Christoph Köhnlein Member of the Supervisory Board Michael Opferkuch Member of the Supervisory Board Max Alexander Schaeuble Member of the Supervisory Board Prof. Dr Eckart Seith Member of the Supervisory Board Tomasz Stankiewicz
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| ADDITIONAL INFORMATION in PLN thousand, unless otherwise stated WAWEL S.A. Condensed Financial Statements for Q3 2026 in accordance with EU IFRS 10 Consolidated financial statement. The Issuer is not the parent company in relation to other entities and does not prepare consolidated financial statements. Shareholding structure. As at the date of publication of the report, the shareholding structure of Wawel S.A. is as follows: Shareholding as at the date of publication of the report for Q3 2026 Shareholder name Number of shares Share in the share capital Number of votes Share of votes at the General Meeting of Shareholders Hosta International AG with its registered office in Bottmingen (Switzerland) 781 929 52,14% 781 929 52,14% Wawel S.A. with its registered office in Krakow (own shares) ** 207 909 13,86% 207 909 13,86% Allianz Polska Open Pension Fund with its registered office in Warsaw * 118 571 7,91% 118 571 7,91% Generali Open Pension Fund with its registered office in Warsaw* 99 213 6,62% 99 213 6,62% Other shareholders 292 133 19,47% 292 133 19,47% TOTAL 1 499 755 100% 1 499 755 100% *) information on the number of shares provided in accordance with the notification received by the Issuer pursuant to Articl e 69 of the in connection with Article 87(1)(3)(b) of the Act of 29 July 2005 "on Public Offering, Conditions Governing the Introduction of Financial Instruments to Organised Trading, and Public Companies", as amended. **) The Company, pursuant to Article 364 § 2 of the CCC, does not exercise share rights attached to its own shares, including voting rights at the General Meeting of Shareholders of the Company, except for the rights to dispose of them or to perform activities aimed at preserving these rights. 2.2. Characteristics of financial results achieved in the reporting period. Results achieved in Q3 2026 In the third quarter of 2026, the Company generated a profit before tax of PLN 36.0 million, which means an increase of PLN 11.2 million compared to the same period of the previous year. Q3 2026 Q3 2025 Change in PLN thousand Change w % Unaudited Unaudited Net sales revenue 168 004 171 895 (3 891) -2% Gross profit on sales 69 820 50 871 18 949 37% Selling costs 17 292 16 178 1 114 7% General management costs 20 300 14 201 6 099 43% Operating profit 32 775 20 652 12 123 59% Profit before tax 35 977 24 788 11 189 45%
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| ADDITIONAL INFORMATION in PLN thousand, unless otherwise stated WAWEL S.A. Condensed Financial Statements for Q3 2026 in accordance with EU IFRS 11 The Company's financial result in the third quarter of 2026, compared to the corresponding period of 2025, was primarily influenced by the following factors: ▪ decrease in sales revenues by PLN 3.9 million, ▪ decrease in the value of the cost of sale by PLN 22.8 million, ▪ increase in the value of general management costs by PLN 6.1 million, ▪ increase in the value of sales costs by PLN 1.1 million. To compare the two analysed periods, the EBITDA, EBIT, Gross cash flow and Cash flow netto. Q3 2026 Q3 2025 Dynamics 2026 / 2025 Unaudited Unaudited EBITDA ratio (PLN thousand) 40 400 27 494 147% Operating profit + depreciation and amortization EBITDA margin (% revenue share) 24,0% 16,0% EBIT ratio (PLN thousand) 32 775 20 652 159% Operating profit EBIT margin (% revenue share) 19,5% 12,0% Gross cash flow ratio (PLN thousand) 43 602 31 630 138% Gross profit + depreciation and amortization Gross cash flow margin (% revenue share) 26,0% 18,4% Net cash flow ratio (PLN thousand) 36 968 26 527 139% Net profit + depreciation and amortization Net cash flow margin (% revenue share) 22,0% 15,4% Sales revenue 2026 2025 Dynamics 2026 / 2025 Q1 163 380 183 996 89% Q2 139 047 144 124 96% Q3 168 004 171 895 98% 9 months 470 431 500 015 94% 9 months 2026 9 months 2025 Change in PLN thousand Change w % Unaudited Unaudited Net sales revenue 470 431 500 015 (29 584) -6% Gross profit on sales 181 401 145 226 36 175 25% Selling costs 50 038 48 364 1 674 3% General management costs 56 953 48 965 7 988 16% Operating profit 74 996 48 009 26 987 56% Profit before tax 88 436 59 390 29 046 49%
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| ADDITIONAL INFORMATION in PLN thousand, unless otherwise stated WAWEL S.A. Condensed Financial Statements for Q3 2026 in accordance with EU IFRS 12 Major events in the period 01.07.2026 – 30.09.2026 On 23.07.2026, the Issuer received from Jeronimo Martins Polska S.A. a signed annex to the sale agreement dated 01.12.2022, concerning the withdrawal of the statement of 31.03.2026 on the termination of the sales agreement in question. Cooperation between the parties will be continued and carried out on an ongoing basis as part of mutual business relations. Major events occurring after the balance sheet date. There were no Factors and events of an unusual nature, having a significant impact on the financial results achieved. They did not occur. Indication of factors that, in the Company's opinion, will have an impact on its results in the perspective of at least the next quarter: The main risks and risk factors include: a) Volatility of the prices of the basic raw material for production (cocoa beans) The past year 2025, as well as the first 9 months of 2026, were after the period of the two previous years (2023 -2024) of continuous increases in cocoa bean prices, a period in which the upward trend in the prices of this basic raw material for the Company was reversed. In the first 9 months of 2026, the price decline was 8%. The table below shows the level of quotations of cocoa beans at the close of the London Stock Exchange session at the end of each quarter. 30.06.2025 30.09.2025 31.12.2025 31.03.2026 30.06.2026 30.09.2026 23.10.2026 Closing Price 5 142 GBP 4 712 GBP 4 344 GBP 2 582 GBP 3 879 GBP 4 017 GBP £4,193 The table below shows the percentage dynamics of cocoa bean prices in individual quarters. Q3 2025 Q4 2025 Q1 2026 Q2 2026 Q3 2026 Price dynamics 92% 92% 59% 150% 104% In the third quarter of 2026, there was an increase in cocoa bean prices from GBP 3.9 thousand / t to a value of GBP 4.0 - 4.2 thousand / t, which may be due to concerns about the volume level of the upcoming harvest. The issuer will monitor the information emerging on this topic on an ongoing basis. As of the date of publication of this report, it is not possible to accurately estimate the impact of cocoa bean price fluctuations on the level of sales and on the Issuer's results in the whole of 2026, given the high volatility of cocoa bean prices over the last 3 years.
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| ADDITIONAL INFORMATION in PLN thousand, unless otherwise stated WAWEL S.A. Condensed Financial Statements for Q3 2026 in accordance with EU IFRS 13 Currently, the Company, on a scale corresponding to approx. 50% of the annual volume of demand for cocoa beans in 2027, executes transactions hedging the price of cocoa beans through the purchase of commodity swaps for contracts for 2027, but at the moment they have no impact on the Company's financial result for 9 months of 2026, and their valuation of PLN (+)17,551 thousand has been recognised in the statement of financial position as at 30.09.2026 under the item "Other capital components". The realised p rofit or loss on a given swap contract will be settled together with the physical delivery of cocoa beans linked to a given hedging instrument, and then recognised in the financial result as an own cost of sale of products manufactured from this raw material. In order to properly assess the Company's prospects, it is necessary to follow the events/quotations of cocoa bean prices on an ongoing basis. Chart 1. Data Source: London Stock Exchange Group
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| ADDITIONAL INFORMATION in PLN thousand, unless otherwise stated WAWEL S.A. Condensed Financial Statements for Q3 2026 in accordance with EU IFRS 14 b) the occurrence of changes in exchange rates unfavourable for the Company (mainly EUR, USD, GBP), which may consequently increase the costs of purchasing raw materials from imports Chart 2. Data Source Provider: NBP The Company does not plan any significant operations related to the opening of transactions hedging currency risk in the near future, due to its limited impact on the Company's results. Proceeds from the export of products in a significant part (approximat ely 42 percent) are secured by expenses on the import of goods and services. The remaining, open foreign exchange exposure on account of import purchases is calculated in the price of the finished product. Nevertheless, the Issuer allows for the possibilit y of concluding foreign exchange forward transactions related to the purchase of currency to the extent necessary to cover current purchases of raw materials. c) the impact of the political and economic situation on the territory of Ukraine and in the Middle East In the opinion of the Management Board of the Company, as at the date of publication of this report, it is difficult to accurately estimate the impact of the political and economic situation in Ukraine and the Middle East on the future financial situation and financial results of the Company, given the very small scale of business related to these areas. In the period of 9 months of 2026, Wawel S.A. sold products to Ukraine with a total value of less than 1% of the Company's total revenues in this period. As at 30.09.2026, the Issuer had receivables from entities from Ukraine below 1% of the total receivables from supplies and services. In the 9 months of 2026, Wawel S.A. sold products to the Middle East with a total value of 1.9% of the Company's total revenues in this period. As at 30.09.2026, the Issuer had receivables from entities from the Middle East in the amount of 3.3% of the total receivables from supplies and services. Currently, trade relations with contractors from this region are very difficult or impossible.
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| ADDITIONAL INFORMATION in PLN thousand, unless otherwise stated WAWEL S.A. Condensed Financial Statements for Q3 2026 in accordance with EU IFRS 15 2.3. Application of International Financial Reporting Standards. Declaration of Conformity. These interim condensed financial statements have been prepared in accordance with International Accounting Standard No. 34 "Interim Financial Reporting" approved by the EU ("IAS 34"). The interim condensed financial statements do not include all information and disclosures required in the annual financial statements and should be read together with the Company's financial statements for the year ended 31 December 2025 approved for publication on 18.03.2026. The interim financial result may not fully reflect the achievable financial result for the financial year. These interim condensed financial statements have been prepared on the assumption that the Company will continue its business activity in the foreseeable future. As at the date of approval of these financial statements, there are no circumstances indicating a threat to the Company's continued operations. Standards applied for the first time. The accounting principles (policies) applied to the preparation of interim condensed financial statements are consistent with those applied in the preparation of the Company's annual financial statements for the year ended 31 December 2025, except for the application of the following new or amended standards and interpretations applicable to annual periods beginning on or after 1 January 2026: ▪ Amendments to IFRS 9 and IFRS 7: Contracts based on electricity dependent on natural factors, ▪ Annual Amendments to IFRS Accounting Standards – Issue 11 containing amendments to IFRS 1, MSSF 7, MSSF 9, MSSF 10 in MSR 7. The changes to the standards and interpretations in force from 01.01.2026 did not apply to the Company or had an intangible impact on the Company's financial position, results of operations, or the scope of information presented in the Company's condensed separate financial statements. Standards and interpretations published, but not yet in force. ▪ Amendments to IFRS 9 "Financial Instruments" and IFRS 7 "Financial Instruments – Disclosures" – changes in the classification and measurement of financial instruments, ▪ IFRS 18 Presentation and Disclosures in Financial Statements, ▪ IFRS 19 Subsidiaries without Public Accountability: Disclosures. The Company has not decided to apply any standard, interpretation or amendment that has been published but has not yet entered into force in the light of the regulations of the European Union. IFRS 18 "Presentation and Disclosure in Financial Statements". This standard replaces IAS 1 and will apply to the Company from 1 January 2027. As at the date of preparation of these financial statements, the Company has made a preliminary assessment of the impact of IFRS 18 on the presentation of results. The Company is in the process of adapting its reporting systems to the requirements of IFRS 18. As at 30 September 2026, it is estimated that the introduction of the standard will have a material impact on the presentation of the income statement, but it will not change the method of valuation of assets and liabilities or the moment of recognition of revenues. With respect to other standards, interpretations and changes to standards, the Company estimates that their prior application by the Company would not have a material impact on these financial statements.
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| ADDITIONAL INFORMATION in PLN thousand, unless otherwise stated WAWEL S.A. Condensed Financial Statements for Q3 2026 in accordance with EU IFRS 16 Voluntary change in the Accounting Rules. In relation to those used in the last annual financial statements, the Company has not changed its accounting principles. Comparability of financial data for the preceding year with data from the financial statements for the reporting period. In the presented financial statements for the 3 quarters of 2026 and 2025, the principle of data comparability has been maintained. 2.4. Significant values based on professional judgment and estimates. Professional judgment. The preparation of the Company's condensed interim financial statements requires the Management Board to make judgments, estimates and assumptions that affect the presented revenues, expenses, assets and liabilities and related notes and disclosures regarding contingent liabilities. Uncertainty about these assumptions and estimates may result in material adjustments to the carrying amounts of assets and liabilities in the future. Uncertainty of estimates and assumptions. The following are the basic forward-looking assumptions and other key sources of uncertainty at the balance sheet date that entail a material risk of a material adjustment in the carrying amount of assets and liabilities in the next financial year. The Company has made assumptions and estimates about the future based on the knowledge it had at the time of preparing the financial statements. Assumptions and estimates may change as a result of future events resulting from market changes or changes beyond the Company's control. Such changes are reflected in the estimates or assumptions at the time of the statement. Impairment of non-current assets and goodwill As at the date of preparation of the condensed financial statements, the Company did not identify any indications of impairment and there was no need to carry out tests in this regard. Valuation of provisions for employee benefits Provisions for retirement and disability severance payables and jubilee bonuses were estimated using actuarial methods. Deferred tax asset The Company recognizes a deferred tax asset based on the assumption that a tax profit will be generated in the future that would allow it to be used. A deterioration in the tax results obtained in the future could render this assumption unjustified. Valuation of deferred income tax assets from operations in the Special Economic Zone The valuation and recognition of deferred tax assets, as well as the possibility of their realization, requires the Company's Management Board to use professional judgment and estimates according to the state of knowledge as at the date of preparation of the report. In particular, it refers to the assumed production volumes and the assumed level of costs in the production plant.
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| ADDITIONAL INFORMATION in PLN thousand, unless otherwise stated WAWEL S.A. Condensed Financial Statements for Q3 2026 in accordance with EU IFRS 17 According to the Management Board's estimates, there are no grounds for a change in the value of the recognized assets as at 30.09.2026. Depreciation rates The amount of depreciation rates is determined on the basis of the expected economic useful life of property, plant and equipment and intangible assets. The Company annually verifies the assumed economic useful life periods on the basis of current estimates. 2.5. Other explanatory information to the financial statements. Functional currency and reporting currency. This report has been prepared in Polish zlotys. The Polish zloty is a functional and reporting currency. The data in the financial statements have been presented in thousands of zlotys. Odds used to convert selected financial data: Financial data for 2026: ▪ the average EURO exchange rate as at 30.09.2026 announced by the National Bank of Poland was used to convert the individual items of the statement of financial position: 1 EUR = 4.3672 PLN ▪ the EURO exchange rate was used to convert the individual items of the statement of comprehensive income and the statement of cash flows for 9 months of 2026, which is the arithmetic average of the average EURO exchange rates announced by the NBP at the end of each month of the 3 quarters of 2026. 1 EUR = 4.2800 PLN Financial data for 2025: ▪ the average EURO exchange rate as at 31.12.2025 announced by the National Bank of Poland was used to recalculate the individual items of the statement of financial position: 1 EUR = 4.2267 PLN ▪ the EURO exchange rate was used to convert the individual items of the statement of comprehensive income and the statement of cash flows for 9 months of 2025, which is the arithmetic average of the average EURO exchange rates announced by NBP at the end of each month of the 3rd quarter of 2025. 1 EUR = 4.2365 PLN Material events following the end of the interim period that were not reflected in the financial statements for the interim period. They did not occur.
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| ADDITIONAL INFORMATION in PLN thousand, unless otherwise stated WAWEL S.A. Condensed Financial Statements for Q3 2026 in accordance with EU IFRS 18 Information regarding the dividend paid or declared. On 28.04.2026, the Ordinary General Meeting of Wawel S.A. adopted Resolution No. 6 on allocating PLN 45,214,610.00 to dividend to shareholders, which is PLN 35.00 per share. The dividend covered 1,291,846 shares of the Issuer. The dividend was determined on 01.06.2026. The dividend was paid on 16.06.2026. Changes in liabilities or contingent assets that have occurred since the end of the last financial year. There were no material changes in liabilities and contingent assets. Issuance, redemption and repayment of debt and equity securities. They do not occur. Changes in the structure of the entity during the mid-year period. They did not occur. Objectives and principles of financial risk management. In the period of 9 months of 2026, the objectives and principles of financial risk management in relation to 2025 have not changed. Financial instruments. According to the Company's assessment, the fair value of cash, short -term deposits, trade receivables, loans granted, listed capital instruments, trade liabilities and other liabilities does not differ from the carrying amounts, mainly due to the short maturity. Activity abandoned. It does not occur. Seasonality of the Issuer's operations. The Issuer's activity is characterized by seasonality, which results directly from the structure of manufactured and sold products. Due to the fact that 75% - 80% of sales are products from the group of filled chocolate, full chocolate and chocolate candies, their sales decrease in the spring and summer months, with the lowest level falling on the second quarter. The highest revenues and profits are generated in the first and fourth quarters of the calendar year. The chart below presents the volume of sales revenues in the last four quarters of the Company's operations compared to the corresponding quarters of the previous year.
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| ADDITIONAL INFORMATION in PLN thousand, unless otherwise stated WAWEL S.A. Condensed Financial Statements for Q3 2026 in accordance with EU IFRS 19 Chart 3. Information about operating segments. In accordance with the requirements of IFRS 8, operating segments should be identified on the basis of internal reports on those elements of the Company, which are regularly verified by persons who decide on the allocation of resources to a given segment a nd assess its financial results. The Company conducts a homogeneous activity consisting in the production and sale of confectionery products. On the other hand, for management purposes, the internal financial reporting system allows for the identification of financial results according to the criterion of sales markets. The results within the segment of sales markets are as follows: Q1-Q3 2026 Q1-Q3 2025 Unaudited Unaudited Revenues from the sale of products, goods and materials, including: 470 431 500 015 Country 420 642 423 422 Export 49 789 76 593 The cost of products, goods and materials sold, including: 289 030 354 789 Country 257 666 300 486 Export 31 364 54 303 Gross profit (loss) on sales, including: 181 401 145 226 Country 162 976 122 936 Export 18 425 22 290 Capital expenditures are not allocated to segments by sales market, as non -current assets used in all segments are located in Poland.
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| ADDITIONAL INFORMATION in PLN thousand, unless otherwise stated WAWEL S.A. Condensed Financial Statements for Q3 2026 in accordance with EU IFRS 20 Information about the main customers: In the period of 9 months of 2026. The Company with two external entities made sales transactions exceeding 10% of the Company's total sales revenues. The sales transactions took place entirely in the "Country" sales segment. Information on impairment losses on inventories to net recoverable value and reversal of impairment losses: In the period of Q3 2026, the balance of impairment losses related to inventories of materials and finished goods did not change compared to 30.06.2026. Information on impairment losses on financial assets, property, plant and equipment, intangible assets or other assets and the reversal of such impairment losses: In the 3rd quarter of 2026, the balance of impairment losses on principal and interest receivables did not change compared to 30.06.2026. Information on the creation, increase, use and dissolution of reserves: In the 3rd quarter of 2026, the balance of provisions did not change compared to 30.06.2026. Information on deferred tax provisions and assets made in the 3rd quarter of 2026 The offset balance of provisions and assets due to deferred income tax disclosed in the statement of financial position increased by PLN 786 thousand in the 3rd quarter, of which: ▪ the balance of provisions from t. deferred income tax increased by PLN 536 thousand ▪ the balance of assets from t. deferred income tax increased by PLN 1,322 thousand. Information on significant transactions of acquisition and sale of property, plant and equipment. They did not occur. Information on a material liability for the purchase of property, plant and equipment. It does not occur. Information on material settlements for court cases. They do not occur. Indication of error corrections of previous periods. They do not occur.
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| ADDITIONAL INFORMATION in PLN thousand, unless otherwise stated WAWEL S.A. Condensed Financial Statements for Q3 2026 in accordance with EU IFRS 21 Information on changes in the economic situation and operating conditions that have a material impact on the fair value of the entity's financial assets and financial liabilities. They do not occur. Information about the non-repayment of a credit or loan or a breach of material provisions of the credit or loan agreement. They do not occur. Material transactions with related parties on non-market terms. They did not occur. Information regarding a change in the classification of financial assets as a result of a change in the purpose or use of those assets. They did not occur. The Management Board's position on the possibility of fulfilling the published forecasts of results 2026. The company has not made public a forecast of financial results for 2026. Summary of changes of shareholders holding directly or indirectly by subsidiaries at least 5% of votes at the General Meeting of Shareholders of the Issuer. Shareholding as at the date of submission of the report for the first half of 2026 Shareholder name Number of shares Number of votes Share in the share capital Share of votes at the General Meeting of Shareholders Hosta International AG with its registered office in Bottmingen (Switzerland) 781 929 781 929 52,14% 52,14% Wawel S.A. with seated in Krakow (own shares) 207 909 207 909 13,86% 13,86% Allianz Polska Open Pension Fund with its registered office in Warsaw * 118 571 118 571 7,91% 7,91% Generali Open Pension Fund with its registered office in Warsaw* 99 213 99 213 6,62% 6,62% Change in shareholding from the date of submission of the report for the first half of 2026 to the date of submission of the report for the 3rd quarter of 2026 THE STATE OF OWNERSHIP HAS NOT CHANGED.
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| ADDITIONAL INFORMATION in PLN thousand, unless otherwise stated WAWEL S.A. Condensed Financial Statements for Q3 2026 in accordance with EU IFRS 22 Shareholding as at the date of publication of the report for Q3 2026 Shareholder name Number of shares Number of votes Share in the share capital Share of votes at the General Meeting of Shareholders Hosta International AG with its registered office in Bottmingen (Switzerland) 781 929 781 929 52,14% 52,14% Wawel S.A. with its registered office in Krakow (own shares) 207 909 207 909 13,86% 13,86% Allianz Polska Open Pension Fund with its registered office in Warsaw * 118 571 118 571 7,91% 7,91% Generali Open Pension Fund with its registered office in Warsaw* 99 213 99 213 6,62% 6,62% *) information on the number of shares provided in accordance with the notification received by the Issuer pursuant to Articl e 69 in conjunction with Article 87(1)(3)(b) of the Act of 29 July 2005 on Public Offering, Conditions Governing the Introduction o f Financial Instruments to Organised Trading, and Public Companies Summary of changes in the Issuer's shareholding by the managing persons. Shareholding as at the date of submission of the report for the first half of 2026 Shareholder name Number of shares Number of votes Type of shares held President of the Management Board – Dariusz Orłowski (has indirectly) 11 670 11 670 Ordinary bearer Member of the Management Board – Joanna Sztefko 50 50 Ordinary bearer Change in shareholding from the date of submission of the report for the first half of 2026 to the date of submission of the report for the 3rd quarter of 2026 THE STATE OF OWNERSHIP HAS NOT CHANGED. Shareholding as at the date of publication of the report for Q3 2026 Shareholder name Number of shares Number of votes Type of shares held President of the Management Board – Dariusz Orłowski (has indirectly) 11 670 11 670 Ordinary bearer Member of the Management Board – Joanna Sztefko 50 50 Ordinary bearer
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| ADDITIONAL INFORMATION in PLN thousand, unless otherwise stated WAWEL S.A. Condensed Financial Statements for Q3 2026 in accordance with EU IFRS 23 Summary of changes in the Issuer's shareholding by the supervising persons. Shareholding as at the date of submission of the report for the first half of 2026 Shareholder name Number of shares Number of votes Type of shares held Laura Opferkuch (held indirectly through Hosta International AG, WIK Sp. z o.o. and Wawel S.A.) 989 838 989 838 Ordinary bearer Paweł Bałaga 1 640 1 640 Ordinary bearer Eugeniusz Małek 2 2 Ordinary bearer Tomasz Stankiewicz 10 10 Ordinary bearer Change in shareholding from the date of submission of the report for the first half of 2026 to the date of submission of the report for the 3rd quarter of 2026 THE STATE OF OWNERSHIP HAS NOT CHANGED. Shareholding as at the date of publication of the report for Q3 2026 Shareholder name Number of shares Number of votes Type of shares held Laura Opferkuch (held indirectly through Hosta International AG, WIK Sp. z o.o. and Wawel S.A.) 989 838 989 838 Ordinary bearer Paweł Bałaga 1 640 1 640 Ordinary bearer Eugeniusz Małek 2 2 Ordinary bearer Tomasz Stankiewicz 10 10 Ordinary bearer Proceedings pending before a court, an arbitration authority or a public administration body. Important court and administrative cases do not occur. Information on the granting of credit guarantees, loans or guarantees by the Issuer. There are no sureties or guarantees granted by Wawel S.A. as at the balance sheet date. Other information that may significantly affect the assessment of the Issuer's property, financial and financial situation. Apart from the events described in the quarterly report, the Management Board is not aware of any other material information that may have a significant impact on the assessment of the Issuer's personnel, property and financial standing.