Interim report
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January to September 2025 Unaudited Interim Report of the Krka Group and Krka Novo mesto, November 2025
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2 January to September 2025 Unaudited Interim Report of the Krka Group and Krka CONTENTS Introduction ............................................................................................................................................ 3 January–September 2025 performance highlights .............................................................................................. 3 Financial highlights .............................................................................................................................................. 4 Krka ID card ........................................................................................................................................................ 5 Krka Group at a glance ....................................................................................................................................... 5 2025 Krka Group performance estimate ............................................................................................................. 6 2026 Krka Group business plan .......................................................................................................................... 6 Business report ...................................................................................................................................... 7 Financial risks ..................................................................................................................................................... 7 Investor and share information ............................................................................................................................ 7 Krka Group performance analysis ....................................................................................................................... 9 Marketing and sales .......................................................................................................................................... 12 Research and development .............................................................................................................................. 17 Investments ....................................................................................................................................................... 19 Employees ........................................................................................................................................................ 19 Condensed consolidated financial statements of the Krka Group, with notes .............................. 21 Consolidated statement of financial position of the Krka Group ........................................................................ 21 Consolidated income statement of the Krka Group ........................................................................................... 22 Consolidated statement of other comprehensive income of the Krka Group .................................................... 22 Consolidated statement of changes in equity of the Krka Group ...................................................................... 23 Consolidated statement of cash flows of the Krka Group ................................................................................. 25 Segment reporting of the Krka Group ............................................................................................................... 26 Notes to consolidated financial statements of the Krka Group .......................................................................... 27 Condensed financial statements of Krka, d. d., Novo mesto, with notes ........................................ 33 Statement of financial position of Krka, d. d., Novo mesto ................................................................................ 33 Income statement of Krka, d. d., Novo mesto ................................................................................................... 34 Statement of other comprehensive income of Krka, d. d., Novo mesto ............................................................ 34 Statement of changes in equity of Krka, d. d., Novo mesto .............................................................................. 35 Statement of cash flows of Krka, d. d., Novo mesto .......................................................................................... 37 Statement of compliance ..................................................................................................................... 45
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January to September 2025 Unaudited Interim Report of the Krka Group and Krka 3 INTRODUCTION Condensed consolidated financial statements of the Krka Group (hereinafter also the Group) and condensed financial statements of Krka, d. d., Novo mesto (hereinafter also Krka, the Company, or the controlling company, we, our, us) for the periods January–September 2025 and January–September 2024 are unaudited, while financial statements for the full financial year 2024 are audited. Krka has no authorised capital and made no conditional share capital increase. We promptly announce all significant data changes in the listing prospectus of Krka in the electronic information dissemination systems SEOnet of the Ljubljana Stock Exchange and ESPI of the Polish Financial Supervision Authority. Reports on business operations of the Krka Group and Krka are available for viewing at www.krka.biz. The Supervisory Board deliberated on the unaudited business report of the Krka Group and Krka for the period January–September 2025 at their regular meeting of 12 November 2025. January–September 2025 performance highlights • Krka Group product and service sales totalled €1,529.1 million, of which product sales accounted for over 97%. • Product and service sales of the Krka Group increased by 7% year on year. • We generated 94% of product and service sales outside Slovenia. Export accounted for 96% of product sales. • Region East Europe recorded the highest sales, accounting for 34.9% of total Krka Group sales, and was followed by Region Central Europe and Region West Europe. • The Krka Group recorded €367.2 million in operating profit (EBIT), up 10% year on year. The EBIT margin was 23.9%. EBITDA amounted to €436.7 million, up 9% year on year. The EBITDA margin was 28.5%. • The Krka Group recorded a posi tive net financial result of €28.3 million, of which net foreign exchange gains amounted to €34.0 million. • Krka Group profit before tax totalled €395.5 million, up 17% year on year. • Krka Group net profit amounted to €323.7 million, a 15% year-on-year increase. Net profit margin was 21.1%. • As at 30 September 2025, the Krka share traded at €214.00 on the Ljubljana Stock Exchange, up 54% on the year-end 2024. From January until the end of September 2025, we repurchased treasury shares in total of €39.9 million under the share buyback programme. • We added seventeen new products to our portfolio, thirteen prescription pharmaceuticals, two non-prescription products, and two animal health products. • The Krka Group allocated €66.7 million to investments, of which €48.0 million to the controlling company. • At the end of September 2025, the Krka Group had 13,107 regularly employed persons on payroll, up 2% on year-end 2024. Total headcount of the Krka Group, including agency workers, tallied 13,139 employees.
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4 January to September 2025 Unaudited Interim Report of the Krka Group and Krka Financial highlights € thousand Krka Group Krka Jan–Sep 2025 Jan–Sep 2024 Index Jan–Sep 2025 Jan–Sep 2024 Index Revenue 1,534,028 1,434,662 107 1,415,996 1,328,449 107 – Of which revenue from sales of products and services 1,529,127 1,427,514 107 1,224,414 1,148,926 107 Gross profit 884,852 819,323 108 815,727 745,156 109 Earnings before interest, tax, depreciation and amortisation (EBITDA) 436,734 401,748 109 400,008 362,127 110 Operating profit (EBIT)1 367,154 332,609 110 348,339 308,950 113 Profit before tax (EBT) 395,453 337,331 117 387,787 315,769 123 Net profit 323,654 281,027 115 317,985 266,446 119 R&D expenses 143,733 136,364 105 141,494 133,296 106 Investments 66,742 91,703 73 48,025 70,032 69 € thousand 30 Sep 2025 31 Dec 2024 Index 30 Sep 2025 31 Dec 2024 Index Non-current assets 1,048,461 1,022,901 102 1,054,303 1,044,180 101 Current assets 1,919,161 1,826,120 105 1,668,877 1,577,456 106 – Inventories 657,720 638,608 103 562,848 548,188 103 – Trade receivables 615,658 552,710 111 591,653 518,425 114 – Cash and cash equivalents 370,551 344,895 107 262,525 238,183 110 Equity 2,305,045 2,237,784 103 2,213,285 2,186,351 101 Non-current liabilities 171,382 162,662 105 139,499 130,433 107 Current liabilities 491,195 448,575 110 370,396 304,852 122 – Trade payables 149,281 148,285 101 196,170 171,183 115 RATIOS Jan–Sep 2025 Jan–Sep 2024 Jan–Sep 2025 Jan–Sep 2024 Gross profit margin 57.7% 57.1% 57.6% 56.1% EBITDA margin 28.5% 28.0% 28.2% 27.3% EBIT margin 23.9% 23.2% 24.6% 23.3% EBT margin 25.8% 23.5% 27.4% 23.8% Net profit margin (ROS) 21.1% 19.6% 22.5% 20.1% Return on equity (ROE)2 19.0% 17.1% 19.3% 16.6% Return on assets (ROA)3 14.8% 13.4% 15.9% 13.7% Liabilities/Equity 0.287 0.278 0.230 0.205 R&D expenses/Revenue 9.4% 9.5% 10.0% 10.0% HEADCOUNT 30 Sep 2025 31 Dec 2024 Index 30 Sep 2025 31 Dec 2024 Index Balance at 13,107 12,810 102 7,670 7,523 102 SHARE INFORMATION Jan–Sep 2025 Jan–Sep 2024 Index Total number of shares issued 32,793,448 32,793,448 100 Earnings per share (EPS) in €4 14.09 12.17 116 Closing price at end of period in €5 214.00 136.00 157 Price/Earnings ratio (P/E) 15.19 11.18 136 Book value in €6 70.29 67.21 105 Price/Book value (P/B) 3.04 2.02 150 Market capitalisation in € thousand (end of period) 7,017,798 4,459,909 157 1 The difference between operating income and expenses 2 Net profit, annualised/Average shareholders’ equity in the period 3 Net profit, annualised/Average total asset balance in the period 4 Net profit attributable to majority equity holders of the Krka Group, annualised/Average number of shares issued in the perio d, excluding treasury shares 5 Share price on the Ljubljana Stock Exchange 6 Equity at the end of the period/Total number of shares issued
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January to September 2025 Unaudited Interim Report of the Krka Group and Krka 5 Krka ID card Registered office Šmarješka cesta 6, 8501 Novo mesto, Slovenia Telephone +386 7 331 21 11 Email info@krka.biz Website www.krka.biz Core business Manufacture of pharmaceutical preparations Business classification code 21.200 Year established 1954 Registration entry 1/00097/00, District Court of Novo mesto, Slovenia Tax number 82646716 VAT registration number SI82646716 Company ID number 5043611000 Share capital €54,732,264.71 Total number of shares issued 32,793,448 ordinary registered no-par value shares, KRKG stock symbol. Krka shares have been listed on the Ljubljana Stock Exchange since 1997 under the KRKG stock symbol, and dual - listed on the Warsaw Stock Exchange since April 2012 under the KRK stock symbol. Krka Group at a glance The Krka Group develops, produces, markets, and sells human health products (prescription pharmaceuticals and non-prescription products), animal health products, and health resort and tourist services. The Krka Group consists of the controlling company, Krka, d. d., Novo mesto, Slovenia; a subsidiary in Slovenia, Terme Krka, d. o. o., Novo mesto; and 33 subsidiaries outside Slovenia. The controlling company is the sole owner of all subsidiaries, except f or Ningbo Krka Menovo Pharmaceutical Co Ltd in China, in which Krka holds a 60% stake, while its Chinese partner, Ningbo Menovo Pharmaceutical Co Ltd, holds the remaining 40%. In April 2024, Krka and the Indian partner Laurus Labs Ltd (hereinafter Laurus) established a joint venture, Krka Pharma Pvt Ltd, headquartered in Hyderabad, India. Krka holds a 51% stake, and Laurus Labs Ltd holds a 49% stake in the company. We contributed €11.7 million in initial capital of the joint venture. Production takes place at the controlling company in Slovenia and at subsidiaries in the Russian Federation, Poland, Croatia, and Germany. These subsidiaries, apart from Krka -Rus in the Russian Federation, deal with marketing and sales in addition to production. In China, production takes place in long-term leased facilities. Other subsidiaries outside Slovenia market and/or sell Krka products, but do not have production capacities. The subsidiary Terme Krka is engaged in health resort and tourist services and owns Golf Grad Otočec.
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6 January to September 2025 Unaudited Interim Report of the Krka Group and Krka 2025 Krka Group performance estimate • Full-year sales of products and services are projected at €2,020 million, up 6% year on year. Estimated sales outstrip the 2025 sales target. • The market share outside Slovenia is estimated at 94%. • Region East Europe is expected to generate the highest sales. Other regions are projected to follow in this order: Region Central Europe, Region West Europe, Region South-East Europe, Region Slovenia, and Region Overseas Markets. • Prescription pharmaceuticals are projected to remain the most important product category, accounting for 83% of total sales. • Net profit is forecast at €383 million, up 8% year on year. The estimate surpasses the amount planned for 2025 by €18 million. • We plan to invest just short €95 million in our in-house development, production, and infrastructure facilities. By the end of 2025, we will have paid a further €5 million into our joint venture, Krka Pharma Private Limited, in India. • At the end of 2025, the Krka Group is expecte d to have 13,344 regular employees on payroll (up 4%), 41% of them outside Slovenia. 2026 Krka Group business plan • We project product and service sales at €2,132 million, up €112 million or 6% on the 2025 sales estimate. • The market share outside Slovenia is estimated at 94%. • We expect prescription pharmaceuticals to remain our leading product category, accounting for more than 80% of overall sales. • Net profit is projected at €405 million, a €22 million or 6% increase on the 2025 estimate. • We plan to allocate over €140 million to investments, primarily for expanding and modernising production facilities and infrastructure, an increase of €45 million compared to the amount allocated in 2025. We earmarked €20 million for our joint venture Krka Pharma Private Limited in India. • The total number of employees in Slovenia and abroad is projected to increase by 2%. The 2026 business objectives derive from the 2026–2030 Krka Group Development Strategy and are based on estimates, assessments, projections, and other available data. The Management Board believes projections are reasonable. In the event of major changes in the business environment, e.g. price erosion, rising prices of raw materials, exchange rate fluctuations for certain key currencies, or a decre ase in demand for pharmaceutical products, actual operating results may deviate from the plan.
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January to September 2025 Unaudited Interim Report of the Krka Group and Krka 7 BUSINESS REPORT Financial risks Foreign exchange risk Our key currency risk management policy remains to mitigate currency risk exposure by natural hedging. We also use financial instruments to a limited extent. The Russian rouble continues to represent the largest Krka Group currency risk. We employ natural hedging strategies because of the limited options available for mitigating this risk with financial instruments. The value of the Russian rouble expressed in euros increased by 22% from the beginning of the year until the end of the third quarter of 2025, while the average value of the rouble expressed in euro s rose by 3.5% year on year. In the first nine months of 2025, the Krka Group recorded foreign exchange gains from its long position in the Russian rouble, which are recognised in the net financial result. We continued to hedge the risk exposure to the US dollar with financial instruments in the first nine months of 2025. Unlike with other currencies, exposure to the US dollar arises from a surplus of liabilities over assets from regular business operations, or in other words, the currency position is short. Exposure to the US dollar arises primarily from purchasing raw and other materials. The value of the US dollar expressed in euros decreased by 11.5% over the three quarters, while the average value of the dollar dropped by 2.8% year on year. Other currencies material to our operations had a minor impact on Krka Group result in the first nine months of 2025. Taking into account net foreign exchange gains and losses, income and expenses from financial instruments, interest income and expense, as well as other financial income and expenses, the total net financial result for the first nine months of 2025 was positive, amounting to €28.3 million. Credit risk Krka Group key credit risk stems from trade receivables. The centralised credit control process at the Krka Group level includes all customers with credit limits exceeding €20,000. Counting over 580 at the end of Q3 2025, they accounted for more than 95% of total trade receivables. Credit control for s mall customers is decentralised within the sales network and remains under constant supervision of the controlling company. Our credit risk management policy remained unchanged in the first nine months of 2025. At the end of this period, more than 90% of Krka Group trade receivables were insured with a credit insurance company. By the end of Q3 2025, total trade receivables in euros increased by 11% compared to the beginning of the year. The maturity structure remained stable and the proportion of overdue receivables relative to total trade receivables remained within acceptable limits. Investor and share information The Krka share price on the Ljubljana Stock Exchange rose by 54% over the first nine months of 2025, standing at €214.00 on 30 September 2025. In this period, holdings of Slovenian retail investors, legal entities and institutional investors, and treasury shares increased. At the end of September 2025, Krka had 47,811 shareholders.
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8 January to September 2025 Unaudited Interim Report of the Krka Group and Krka Shareholder structure (%) 30 Sep 2025 31 Dec 2024 Slovenian retail investors 41.7 41.5 Slovenski državni holding (SDH, Slovenian Sovereign Holding) and the Republic of Slovenia 16.2 16.2 Kapitalska družba, d. d. (KD, Pension Fund Management) and Prvi pokojninski sklad (PPS, First Pension Fund) 10.8 10.8 Slovenian legal entities and institutional investors 5.9 5.4 Foreign investors 18.3 19.7 Treasury shares 7.1 6.4 Total 100.0 100.0 In the first nine months of 2025, Krka repurchased 221,656 treasury shares and held 2,328,993 treasury shares as at 30 September 2025, representing 7.102% of its share capital. Ten largest shareholders as at 30 September 2025 Country No. of shares Equity (%) Voting rights (%) Kapitalska družba, d. d. Slovenia 3,493,030 10.65 11.47 Slovenski državni holding, d. d. Slovenia 2,949,876 9.00 9.68 Republic of Slovenia Slovenia 2,366,411 7.22 7.77 OTP banka d.d.* Croatia 1,479,941 4.51 4.86 Clearstream Europe AG* Germany 1,111,905 3.39 3.65 Erste Group Bank AG* Austria 1,007,801 3.07 3.31 Luka Koper, d. d. Slovenia 433,970 1.32 1.42 Privredna banka Zagreb d.d.* Croatia 373,847 1.14 1.23 Raiffeisen Bank International AG Austria 304,797 0.93 1.00 Hrvatska poštanska banka d.d.* Croatia 182,389 0.56 0.60 Total 13,703,967 41.79 44.98 * The shares are held in custody accounts with the above-listed banks and are owned by their clients. Equity stakes and voting rights of Management and Supervisory Board members as at 30 September 2025 No. of shares Equity (%) Voting rights (%) Management Board members Jože Colarič 22,500 0.069 0.074 Aleš Rotar 13,915 0.042 0.046 Vinko Zupančič 120 0.000 0.000 Milena Kastelic 505 0.002 0.002 Total Management Board members 37,040 0.113 0.122 Supervisory Board members Julijana Kristl 230 0.001 0.001 Mojca Osolnik Videmšek 617 0.002 0.002 Tomaž Sever 500 0.002 0.002 Total Supervisory Board members 1,347 0.004 0.004 Total Management and Supervisory Board members 38,387 0.117 0.126
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January to September 2025 Unaudited Interim Report of the Krka Group and Krka 9 Krka share trading from January to September 2025 As at 30 September 2025, market capitalisation of Krka on the Ljubljana Stock Exchange stood at €7.0 billion. The average daily trading volume of Krka shares during the period amounted to €1.418 million. Krka shares have also been listed on the Warsaw Stock Exchange since April 2012. Krka Group performance analysis Revenue € thousand Jan–Sep 2025 Jan–Sep 2024 Index Revenue from contracts with customers on sales of products and services 1,529,127 1,427,514 107 Revenue from contracts with customers on sales of material, and other revenue 4,901 7,148 69 Total revenue 1,534,028 1,434,662 107 Other operating income 5,386 5,090 106 Financial income 47,020 20,538 229 Total income 1,586,434 1,460,290 109 135 145 155 165 175 185 195 205 215 225 0 1,000 2,000 3,000 4,000 5,000 6,000 7,000 8,000 9,000 31 dec 2024 31 jan 2025 28 feb 2025 31 mar 2025 30 apr 2025 31 maj 2025 30 jun 2025 31 jul 2025 31 avg 2025 30 sep 2025 Closing price (€) Trading volume (€ thousand) Trading volume on LJSE Closirng price on LJSE
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10 January to September 2025 Unaudited Interim Report of the Krka Group and Krka Sales by period Expenses € thousand Jan–Sep 2025 % of revenue Jan–Sep 2024 % of revenue Index Cost of goods sold 649,176 42.3 615,339 42.9 105 Selling and distribution expenses 288,986 18.8 268,961 18.8 107 R&D expenses 143,733 9.4 136,364 9.5 105 General and administrative expenses 90,365 5.9 86,479 6.0 104 Total operating expenses 1,172,260 76.4 1,107,143 77.2 106 Financial expenses 18,721 1.2 15,816 1.1 118 Total expenses 1,190,981 77.6 1,122,959 78.3 106 Operating results € thousand Jan–Sep 2025 Jan–Sep 2024 Index Earnings before interest, tax, depreciation and amortisation (EBITDA) 436,734 401,748 109 Operating profit (EBIT) 367,154 332,609 110 Profit before tax (EBT) 395,453 337,331 117 Net profit 323,654 281,027 115 Net profit by period 1,341 1,435 1,534 200 400 600 800 1,000 1,200 1,400 1,600 Jan–Sep 2023 Jan–Sep 2024 Jan–Sep 2025 € million 236 281 324 50 100 150 200 250 300 350 Jan–Sep 2023 Jan–Sep 2024 Jan–Sep 2025 € million
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January to September 2025 Unaudited Interim Report of the Krka Group and Krka 11 Assets € thousand 30 Sep 2025 % 31 Dec 2024 % Index Non-current assets 1,048,461 35.3 1,022,901 35.9 102 Attributable to: – Property, plant and equipment 824,859 27.8 806,646 28.3 102 – Intangible assets 99,045 3.3 100,747 3.5 98 Current assets 1,919,161 64.7 1,826,120 64.1 105 Attributable to: – Inventories 657,720 22.2 638,608 22.4 103 – Trade receivables and other receivables 645,210 21.7 581,601 20.4 111 Total assets 2,967,622 100.0 2,849,021 100.0 104 Equity and liabilities € thousand 30 Sep 2025 % 31 Dec 2024 % Index Equity 2,305,045 77.7 2,237,784 78.6 103 Non-current liabilities 171,382 5.8 162,662 5.7 105 Attributable to provisions: 140,807 4.7 136,895 4.8 103 – For post-employment benefits and other non-current employee benefits 132,752 4.5 128,765 4.5 103 – For lawsuits 7,559 0.3 7,598 0.3 99 – Other provisions 496 0.0 532 0.0 93 Current liabilities 491,195 16.5 448,575 15.7 110 – Trade payables 149,281 5.0 148,285 5.2 101 – Contract liabilities 183,603 6.2 166,078 5.8 111 – Other current liabilities 158,311 5.3 134,212 4.7 118 Total equity and liabilities 2,967,622 100.0 2,849,021 100.0 104 Performance ratios All performance ratios improved year on year in the period from January to September 2025 and are aligned with the Krka Group key strategic objectives. 29.7 23.9 17.6 14.8 11.8 28.0 23.2 19.6 17.1 13.4 28.5 23.9 21.1 19.0 14.8 28.7 23.7 19.4 16.9 13.3 0 5 10 15 20 25 30 EBITDA margin EBIT margin Net profit margin ROE ROA % Jan–Sep 2023 Jan–Sep 2024 Jan–Sep 2025 Average
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12 January to September 2025 Unaudited Interim Report of the Krka Group and Krka Marketing and sales Krka Group revenue for the nine months of 2025 totalled €1,534.0 million, of which revenue from contracts with customers on sales of products and services totalled €1,529.1 million. Sales in markets outside Slovenia totalled €1,430.3 million, accounting for 94% of overall Krka Group sales. Sales volume increased by 5% year on year. Krka Group product and service sales by region Sales increased in all sales regions and most markets, except in Region Overseas Markets. Product and service sales by region € thousand Jan–Sep 2025 Jan–Sep 2024 Index Region Slovenia 98,821 91,893 108 – % of total sales 6.5 6.5 Region South-East Europe 218,220 201,627 108 – % of total sales 14.3 14.1 Region East Europe 533,723 484,297 110 – % of total sales 34.9 33.9 Region Central Europe 350,857 328,553 107 – % of total sales 22.9 23.0 Region West Europe 272,389 264,538 103 – % of total sales 17.8 18.5 Region Overseas Markets 55,117 56,606 97 – % of total sales 3.6 4.0 Total 1,529,127 1,427,514 107 Region Slovenia Product and service sales in Region Slovenia, our domestic market, totalled €98.8 million in the first nine months of 2025. Product sales were valued at €56.9 million, while services generated €41.9 million. Holding a 7.3% market share, we maintained the leading position among provid ers of medicines in Slovenia in terms of sales value. Products from our key therapeutic categories promoted in marketing campaigns contributed most substantially to sales, above all those for cardiovascular diseases; pain relief; the central nervous system; the gastrointestinal tract; and vitamins and minerals. Perindopril-based products were our key cardiovascular agents. Single -pill combinations Amlessa (perindopril/amlodipine), Amlewel (perindopril/amlodipine/indapamide), and Prenewel (perindopril/indapamide) from this product family stood out in terms of sales and contributed the most to brand awareness in the market of antihypertensives. Of our statins, we strengthened the leading mar ket position of Sorvasta (rosuvastatin) and bolstered the recognition of the single -pill combination Sorvitimb (rosuvastatin/ezetimibe). We increased brand awareness of our oral anticoagulant Daxanlo (dabigatran), and added Delianda (edoxaban) to our range of peroral anticoagulants. We also extended the range of our cardiovascular agents with a platelet aggregation inhibitor Atixarso (ticagrelor). Of our antidiabetic agents, we raised recognition of two antihyperglycaemic agents from the dipeptidyl-peptidase 4 (DPP-4) inhibitor product group, a mono -component agent Maysiglu (sitagliptin) and a single -pill combination Maymetsi (sitagliptin/metformin). We primarily focused on NSAIDs Nalgesin Forte (naproxen) and Daleron (paracetamol) 1000 mg, and a non -opioid analgesic Algominal (metamizole), all from our pain relief range. We bolstered brand awareness of our antidepressant Dulsevia (duloxetine) and the antipsychotic Parnido (paliperidone), both from our central nervous system product group. We extended our pro duct range for the treatment of multiple sclerosis by adding Efigalo (fingolimod) to Aregalu (teriflunomide). Nolpaza (pantoprazole) and Emozul (esomeprazole) recorded the highest sales growth of our medicines for the gastrointestinal tract. We increased brand awareness of Vitamin D3 Krka 7000 IU (cholecalciferol), which is taken once per week. We raised awareness of our newly launched non -prescription products Imunogard Krka (beta - glucan/vitamins/minerals) for immune system bolstering and Herbisland (Icela nd moss extract) lozenges for
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January to September 2025 Unaudited Interim Report of the Krka Group and Krka 13 relieving hoarseness and dry, irritating cough. The magnesium -based product Magnezij Krka (magnesium) from our range of vitamins and minerals, and Nalgesin S (naproxen) and Daleron (paracetamol) from our pain relief range were our leading non-prescription products. Our leading animal health product was the wide-spectrum parasiticide Milprazon (milbemycin oxime/praziquantel), while Floron (florfenicol) and Rycarfa (carprofen) presented the highest sales growth. Region South-East Europe Product sales by market € thousand Jan–Sep 2025 Jan–Sep 2024 Index Romania 58,696 55,707 105 Croatia 39,087 37,778 103 Serbia 31,748 29,316 108 Bulgaria 24,963 22,773 110 North Macedonia 23,725 21,794 109 Bosnia and Herzegovina 21,543 18,805 115 Kosovo 8,231 7,016 117 Greece 3,808 2,898 131 Albania 3,245 2,972 109 Montenegro 3,173 2,570 123 Total 218,220 201,627 108 According to the latest data, we held a 7.3% market share in terms of volume, and were the most successful provider of generic prescription pharmaceuticals in the pharmacy segment in Romania. Atoris (atorvastatin), Nolpaza (pantoprazole), Co -Prenessa (perindopril/indapamide), and Co -Roswera (rosuvast atin/ezetimibe) generated the strongest sales. Nalgesin (naproxen) and Bilobil (ginkgo leaf extract) were our flagship non-prescription products. Antiparasitic products remained our best -selling animal health products, especially the Fypryst brand products and Selehold (selamectin). In Croatia, we ranked second most successful generic pharmaceutical company by sales of prescription pharmaceuticals in the pharmacy segment. The leading prescription pharmaceuticals were Emanera (esomeprazole), Atoris (atorvas tatin), and Co -Dalneva (perindopril/amlodipine/indapamide). Our new medicines Daxanlo (dabigatran), Valomindo (valsartan/indapamide), and Xerdoxo (rivaroxaban) also presented sales growth. Delianda (edoxaban) was our latest launch. Nalgesin (naproxen) and Septolete Duo (benzydamine/cetylpyridinium chloride) recorded the strongest sales of non-prescription products. The Fypryst brand products and Enroxil (enrofloxacin) generated the strongest sales of animal health products. The newly launche d Otomicol (miconazole/prednisolone/polymyxin) also saw an increase in sales. Region East Europe Product sales by market € thousand Jan–Sep 2025 Jan–Sep 2024 Index Russian Federation 315,303 282,355 112 Ukraine 72,189 69,285 104 Uzbekistan 44,610 39,562 113 Belarus 23,946 20,824 115 Kazakhstan 15,114 17,416 87 Mongolia 13,817 12,062 115 Moldova 13,105 10,426 126 Azerbaijan 7,821 7,582 103 Georgia 7,796 7,608 102 Armenia 7,071 6,157 115 Kyrgyzstan 6,476 6,014 108 Tajikistan 3,737 3,376 111 Turkmenistan 2,739 1,629 168 Total 533,723 484,297 110
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14 January to September 2025 Unaudited Interim Report of the Krka Group and Krka In the Russian Federation, we recorded 12% growth in the first nine months of the year, placing us at the forefront of all international providers of generic pharmaceuticals in the country. Prescription pharmaceuticals accounted for 82% of overall sales in the country. Co -Dalneva (perindopril/amlodipine/indapamide), Co -Perineva (perindopril/indapamide), Lorista (losartan), Valsacor (valsartan), Lorista H and Lorista HD (losartan/hydr ochlorothiazide), Vamloset (valsartan/amlodipine), Nolpaza (pantoprazole), Duloxenta (duloxetine), Roxera (rosuvastatin), and Valsacor H and Valsacor HD (valsartan/hydrochlorothiazide) generated the highest sales. Duloxenta (duloxetine) and Roxera Plus (rosuvastatin/ezetimibe) presented the highest absolute growth. We were the leading producer of prescription pharmaceuticals in the pharmacy segment and the leading provider of cardiovascular agents on prescription. Nalgesin (naproxen), the Herbion brand prod ucts, and Septolete Total (benzydamine/cetylpyridinium chloride) recorded the highest sales figures and growth of our non-prescription products. Selafort (selamectin), Milprazon (milbemycin oxime/praziquantel), and Cladaxxa (amoxicillin/clavulanic acid) ge nerated the strongest sales of our animal health products, with Cladaxxa presenting the highest absolute growth. In the first nine months of 2025, the Krka-Rus production plant supplied 74% of all Krka products sold in the Russian Federation. Uncertainty surrounding Ukraine still impacts reliability and predictability of the pharmaceutical market. According to the latest available data, we maintained the second place among foreign providers of generic pharmaceuticals in the pharmacy segment, while our sales volume and value outperformed the average country market growth rate. Prescription pharmaceuticals remained the leading sales group, primarily owing to strong sales of Co -Prenessa (perindopril/indapamide), Co-Amlessa (perindopril/amlodipine/indapamide), Nolpaza (pantoprazole), and Roxera (rosuvastatin). Non-prescription products that generated the highest sales were Nalgesin (naproxen), the Herbion brand products, and Septolete Total (benzydamine/cetylpyridinium chloride), while best -selling animal health products were Milprazon (milbemycin oxime/praziquantel) and Selafort (selamectin). According to the latest available data, we remained the leading medicine provider in Uzbekistan. We recorded growth that came close to the average country market growth rat e in the period. Our paramount prescription pharmaceuticals were Amlessa (perindopril/amlodipine), Valodip (valsartan/amlodipine), and Lortenza (losartan/amlodipine), while Septolete Total (benzydamine/cetylpyridinium chloride), and Pikovit headed the non-prescription product list. Region Central Europe Product sales by market € thousand Jan–Sep 2025 Jan–Sep 2024 Index Poland 178,087 160,304 111 Czechia 47,982 44,539 108 Hungary 39,745 41,886 95 Slovakia 32,188 32,085 100 Lithuania 28,295 25,634 110 Latvia 15,628 14,915 105 Estonia 8,932 9,191 97 Total 350,857 328,553 107 Poland, where we recorded 11% growth, remained our second largest individual market. As per latest data, we remained the fifth largest provider of generic medicines in the country. Sales were driven by prescription pharmaceuticals, most notably Atoris (atorvasta tin), Roswera (rosuvastatin), Doreta (tramadol/paracetamol), Valsacor (valsartan), Co-Valsacor (valsartan/hydrochlorothiazide), and Coroswera (rosuvastatin/ezetimibe). Of other prescription pharmaceuticals, Emanera (esomeprazole), Dulsevia (duloxetine), and Nolpaza (pantoprazole) also generated strong sales. The leading non -prescription products remained Septanazal (xylometazoline/dexpanthenol) and the Septolete brand products. Best -selling animal health products were Milprazon (milbemycin oxime/praziquantel), Enroxil (enrofloxacin), and the Dehinel brand products. In Czechia, our second largest regional market, we recorded 8% year-on-year growth. As per latest data, we remained the fifth largest provider of generic medicines in the country. Sales were driven in particular by prescription pharmaceuticals, most notably Sorvasta (rosuvastatin), Atoris (atorvastatin), Pragiola (pregabalin), Nolpaza
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January to September 2025 Unaudited Interim Report of the Krka Group and Krka 15 (pantoprazole), Lexaurin (bromazepam), and Elicea (escitalopram). Nalgesin S (naproxen) and the Septolete brand products were our paramount non-prescription products, while the Fypryst and Dehinel brand products remained key animal health products. In Hungary, our third largest regional market in terms of sales, we maintained the fifth place among pro viders of generic pharmaceuticals. Prescription pharmaceuticals generated the highest sales, in particular Dulsevia (duloxetine), Co -Prenessa (perindopril/indapamide), Emozul (esomeprazole), Roxera (rosuvastatin), Kventiax (quetiapine), Zyllt (clopidogrel) , and Valsacor (valsartan). Our best -selling non -prescription products were Septanazal (xylometazoline/dexpanthenol), Bilobil (ginkgo leaf extract), and Septolete Extra (benzydamine/cetylpyridinium chloride). Milprazon (milbemycin oxime/praziquantel), the Fypryst brand products, and Enroxil (enrofloxacin) were the leading animal health products. We maintained the fourth place among providers of generic medicines in Slovakia. Prescription pharmaceuticals generated the highest sales, in particular Co -Prenessa (perindopril/indapamide), Atoris (atorvastatin), Nolpaza (pantoprazole), Co-Amlessa (perindopril/amlodipine/indapamide), Amlessa (perindopril/amlodipine), and Prenessa (perindopril). Nalgesin S (naproxen), Flebaven (diosmin), and Nolpaza (pantoprazole) r ecorded the highest sales of non-prescription products, while Fypryst and Dehinel brand products and Enroxil (enrofloxacin) sold best of animal health products. Region West Europe Product sales by market € thousand Jan–Sep 2025 Jan–Sep 2024 Index Germany 64,899 62,435 104 Scandinavia 38,502 37,375 103 Portugal 28,663 25,519 112 Italy 21,155 20,623 103 Spain 17,050 20,303 84 Finland 16,999 14,039 121 France 16,976 15,579 109 United Kingdom 16,676 21,139 79 Belgium 13,327 9,342 143 Netherlands 10,917 10,977 99 Ireland 10,885 10,986 99 Austria 9,442 8,045 117 Other European countries 6,898 8,178 84 Total 272,389 264,538 103 Germany, where we recorded 4% growth, remained our key regional market. Our cardiovascular and oncology agents, followed by central nervous system agents and animal health products for companion animals generated the strongest sales. Agents containing candesartan , valsartan, and ramipril stood out in terms of sales. We were the leading provider of single -pill combinations of ramipril and amlodipine and tramadol in combination with paracetamol. We successfully launched our ticagrelor -based product and maintained th e leading position of our innovative single-pill combination of valsartan and indapamide. Region Overseas Markets Product sales by market € thousand Jan–Sep 2025 Jan–Sep 2024 Index Far East and Africa 26,776 27,195 98 Middle East 17,950 19,013 94 China 8,927 9,231 97 Americas 1,464 1,167 125 Total 55,117 56,606 97
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16 January to September 2025 Unaudited Interim Report of the Krka Group and Krka In the first nine months of 2025, we generated 97% of year-on-year sales. The uncertainty in the Middle East had the greatest impact on our business, causing a sales drop. Our sales offices in the markets of the Far East and Africa and China recorded sales close to the last year’s figures. Product and service sales by group Product and service sales by group € thousand Jan–Sep 2025 Jan–Sep 2024 Index Prescription pharmaceuticals 1,274,060 1,181,266 108 – % of total sales 83.3 82.8 Non-prescription products 124,319 121,654 102 – % of total sales 8.1 8.5 Animal health products 88,830 86,825 102 – % of total sales 5.8 6.1 Health resort and tourist services 41,918 37,769 111 – % of total sales 2.8 2.6 Total 1,529,127 1,427,514 107 Prescription pharmaceuticals Sales of our prescription pharmaceuticals increased in Region East Europe (up 13%), Region South-East Europe (up 8%), Region Central Europe (up 7%), Region Slovenia (up 6%), and Region West Europe (up 4%), while they dropped in Region Overseas Markets (down 6%). We increased the year -on-year sales in our four largest markets in this order: the Russian Federation (up 15%), Poland (up 11%), Ukraine (up 8%), and Germany (up 6%). As to other major markets, sales growth was the highest in Uzbekistan (up 13%), Se rbia (up 9%), Scandinavia (up 7%), Czechia (up 6%), Slovenia (up 6%), Romania (up 4%), Croatia (up 3%), and Slovakia (up 1%). The top ten prescription pharmaceuticals in terms of sales were product groups containing perindopril (Prenessa*, Co-Prenessa*, Am lessa*, Co -Amlessa*, Roxiper*, Roxampex*), valsartan (Valsacor, Co -Valsacor*, Wamlox*, Valtricom*, Valarox*, Valomindo*), rosuvastatin (Roswera*, Co -Roswera*), losartan (Lorista*, Lorista H*, Lorista HD*, Tenloris*), pantoprazole (Nolpaza*), atorvastatin ( Atoris), esomeprazole (Emanera*), telmisartan (Tolura*, Tolucombi*, Telassmo*, Tolutris*, Telinstar*), duloxetine (Dulsevia*), and candesartan (Karbis*, Karbicombi*, Kandoset*, Kanpiduo*). Sales growth was driven by products containing valsartan, rosuvasta tin, perindopril, and duloxetine, and by pomalidomide, one of our new medicines, which we launched in the first countries at the end of 2024. We extended our product portfolio with four new launches: a single -pill antihypertensive Candecor -Inda* (candesartan/indapamide) in Germany, Scandinavia, and Portugal; two anticoagulants indicated for the treatment and prevention of thromboembolic events, Aboxoma* (apixaban) in the United Kingdom, Bosnia and Herzegovina, and Montenegro; and Delianda* (edoxaban) in Slovenia, Romania, Bulgaria, Scandinavia, Latvia, Estonia, Croatia, Hungary, and Czechia; and an agent for the treatment of blood and blood forming organs eltrombopag in Germany, Scandinavia, Slovenia, Estonia, Hungary, and Slovakia. Non-prescription products Non-prescription product sales increased in Region South -East Europe (up 4%), Region Slovenia (up 2%), and Region Central Europe (up 1%). They more than doubled in Region Overseas Markets. Non -prescription sales in Region East Europe levelled off at the last year’s figure, while they saw a 3% drop in Region West Europe. Products sold under the Nalgesin*, Septolete*, Herbion*, Septanazal, and Bilobil* brands generated the highest sales. We launched our new Herbisland* lozenges, a sore throat product containing Iceland moss extract, in Slovenia, Poland, Hungary, Lithuania, Latvia, Estonia, Romania, Kazakhstan, Moldova, Scandinavia, and Italy.
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January to September 2025 Unaudited Interim Report of the Krka Group and Krka 17 Animal health products Animal health product sales increased in Region South -East Europe (up 20%), Region Slovenia (up 17%), and Region Central Europe (up 12%), while Region West Europe and Region East Europe recorded a 3% drop each. The combination of milbemycin oxime and praziquantel (Milprazon*), fipro nil (Fypryst*, Fypryst Combo*), selamectin (Selehold*), the combination of amoxicillin and clavulanic acid (Cladaxxa*) , and the combination of pyrantel and praziquantel (Dehinel*, Dehinel Plus*) generated the strongest sales. Products marketed under different product brand names or the Krka trademark in individual markets are marked with asterisk (*). Health resort and tourist services Terme Krka recorded 275,014 overnight stays in the first nine months of 2025, up 6% year on year. Talaso Strunjan unit contributed the largest share, nearly 91,000 overnight stays. Terme Šmarješke Toplice unit recorded 83,500 and Terme Dolenjske Toplice unit 82,400 overnight stays. Research and development We added new products to our portfolio in the first nine months of 2025: thirteen prescription pharmaceuticals, two non-prescription products, and two animal health products. We finalised over 790 registration procedures for new and already established products and received approvals for more than 16,000 regulatory variations to ensure uninterrupted supply to various markets. Prescription pharmaceuticals We obtained marketing authorisations for our four new antidiabetic agents that allow for contemporary patient-tailored treatment. Dagraduo* (dapagliflozin/sitagliptin) is an innovative single-pill that combines two distinct mechanisms of action for improving glycaemic control in adults with type 2 diabetes mellitus when the treatment with both dapagliflozin and sitagliptin is appropriate. Our single-pill combination Mexdagry* (dapagliflozin/metformin), available in film-coated tablets, ensures effective glycaemic control and good patient compliance. Lynxaram* (linagliptin), available in film- coated tablets, is another antidiabetic agent for reliable glycaemic control that can be used as monotherapy or in combination with other agents. The medicine is taken once a day and no dose adjustment is required for patients with renal impairment. We added new products to the portfolio of cardiovascular agents, our largest therapeutic class of products. Valkubit* (sacubitril/valsartan) is used to treat high-risk patients with chronic heart failure. Available in film-coated tablets, the combination of sacubitril and valsartan is associated with reduced risk of hospitalisation and incre ased survival of patients with chronic heart failure. Bi-Prenessa* (bisoprolol/perindopril), available in film -coated tablets, combines a selective beta -blocker and an ACE inhibitor. This single-pill combination of two active ingredients has synergistic effect and allows for effective blood pressure control. It is indicated for the treatment of coronary artery disease or chronic heart failure. We obtained marketing authorisations for new strengths of Co-Amlessa* (perindopril/amlodipine/indapamide), available in tablets, and Co-Roswera* (rosuvastatin/ezetimibe), available in film-coated tablets, providing new options for patient-tailored therapies. We were also granted new marketing authorisations for our already established medicines indicated for the treatment of arterial hypertension, Telassmo* (telmisartan/amlodipine) tablets and Tolucombi (telmisartan/hydrochlorothiazide) tablets. Pixoroso (rosuvastatin/perindopril) in film-coated tablets is our innovative solution for patients with concomitant arterial hypertension and hyperlipidaemia. It allows for achieving target values of lipids and blood pressure by taking just one tablet per day. We were granted marketing authorisations under the decentralised procedure for Delanxara* (tramadol/dexketoprofen) film-coated tablets as the first generic manufacturer. This single-pill analgesic combines two active ingredients with distinct mechanisms of action. Their synergistic and complementary action effectively relieves moderate to severe pain at low doses, reducing the risk of adverse reactions. We were granted marketing authorisations for vonoprazan film-coated tablets in China. This contemporary medicine for the gastrointestinal tract reduces the amount of acid in the stomach, delivering quick and sustained relief. We also
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18 January to September 2025 Unaudited Interim Report of the Krka Group and Krka received approvals for marketing our dapagliflozin film-coated tablets indicated for the treatment of type 2 diabetes mellitus. We were granted new marketing authorisations for our established products in additional markets. Varesta* (vortioxetine) film-coated tablets, available in the EU Member states, are indicated for the treatment of major depressive episodes in adults and are a medicine of choice for patients with severe forms of the disease. In eastern European countries, we were g ranted approvals for a new strength of an antihypertensive agent Valsacor INDA (valsartan/indapamide) 80 mg/1.5 mg modified release tablets and two antidiabetic agents, Dapafors (dapagliflozin) film-coated tablets and Asiglia Met (sitagliptin/metformin) fi lm-coated tablets. We also obtained marketing authorisations for apixaban film-coated tablets, our contemporary antithrombotic agent. We were granted marketing authorisations in additional markets of south -eastern Europe for a contemporary antithrombotic a gent Daxanlo (dabigatran) capsules and a single-pill combination Valomindo (valsartan/indapamide) modified release tablets. We also obtained marketing authorisations for Co-Atoris (ezetimibe/atorvastatin) film-coated tablets indicated for the treatment of hyperlipidaemia. In overseas markets, we were granted new marketing approvals for our medicines from several therapeutic classes. Single-pill combinations that stood out from our cardiovascular agent product group were Wamlox (amlodipine/valsartan), Olmedipin (olmesartan/amlodipine), and Ifirmacombi (irbesartan/hydrochlorothiazide) – all three available in film-coated tablets – and Telassmo (telmisartan/amlodipine) tablets. We were granted marketing authorisations for two agents from our product group for the treatment of blood and blood forming organs, Atixarso (ticagrelor) and a new strength of Xerdoxo (rivaroxaban), both available in film-coated tablets. We also received approvals for marketing our Maysiglu (sitagliptin) film-coated tablets indicated for the treatment of diabetes. Non-prescription products In the first nine months of 2025, we were granted marketing authorisations for our two new non-prescription products. We extended the range of the Septabene product brand, marketed as Septolete Total* in some countries, with two new products for relieving pain and inflammation in the mouth and throat. Our first product, the benzydamine/cetylpyridinium chloride combination Septabene Lemon-and-Ginger Flavoured Lozenges, marketed in some countries as Septolete Total, was developed using Krka new soft-centre lozenge technology. Our innovative formulation is an upgrade of the existing lozenges. Soft -centre lozenges dissolve in the mouth in a specific way, increasing their acceptability among users. We developed lozenges with natural-origin cola flavouring Septabene Cola-Flavoured Lozenges (benzydamine/cetylpyridinium chloride), also marketed as Septolete Total in some countries, with adolescents and young adults in mind. The two products have antiseptic, analgesic, and anti- inflammatory properties and can be taken by adults and children aged 6 years and older. We were granted marketing authorisations in additional markets for the already established lozenges Herbion Iceland Moss that contain dry extract of Iceland moss. They relieve irritation of the mucosa in the throat and mouth and the associated dry cough, and can be taken by adults and adolescents aged 12 years and older. Animal health products We obtained marketing authorisations for European markets for two our ne w animal health products for companion animals. Dehinexxa (praziquantel/emodepside), in certain countries also available as Dehispot, is a spot -on solution indicated for the treatment and prevention of mixed parasitic infestations in cats. In certain coun tries, it has been approved as a non -prescription product, making it more accessible to pet owners. Robexera (robenacoxib) solution for injection is indicated for the control of pain and inflammation associated with orthopaedic or soft tissue surgery in c ats and dogs. We received marketing authorisations in additional markets for several established products. We were approved Ruboxim*(robenacoxib) chewable tablets indicated for relieving pain and treating inflammation associated with chronic osteoarthritis and soft tissue surgeries in dogs. We also received new marketing authorisations for Otomicol (miconazole/prednisolone/polymyxin) ear drops and cutaneous suspension for dogs, cats, and guinea pigs. Flovuxin (florfenicol/flunixin) solution for injection in dicated for the treatment of bacterial respiratory infections in cattle was granted marketing authorisations. Also, we received new approvals for our companion animal products in overseas markets. Products marketed under different product brand names or the Krka trademark in individual markets are marked with asterisk (*).
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January to September 2025 Unaudited Interim Report of the Krka Group and Krka 19 Investments In the first nine months of 2025, the Krka Group allocated €66.7 million to investments, of that €48.0 million to the controlling company. Upgrades made at the Notol plant (N ovo mesto, Slovenia) will ensure reliable operations over the next 20 years. We intend to increase production capacities by installing additional equipment at Notol 2, another production plant in Novo mesto, Slovenia. We upgraded the production and a filli ng-and-packaging line at the Solid Dosage Products plant in Novo mesto, Slovenia. Construction of the extension to Sterile Products Department in Novo mesto, Slovenia, entered into its final phase. We are currently installing a new suspension inspection line to increase the production capacities significantly. Two multi-purpose buildings are under construction there as well. We started the construction of a facility at the Bršljin Department in Novo mesto, Slovenia, to increase production capacities. We also expect to boost the capacities for packaging tablets for use in veterinary medicine and spot-on products in the existing facility. We increased capacities at our site in Ljutom er, Slovenia. We are about to start building an automated high -bay warehouse and expanding the plant. We finished the construction of the technologically advanced wastewater treatment plant in Krško, Slovenia. We are still in the process of obtaining the environmental protection and chemical safety (SEVESO) permits. At the production and distribution centre in Jastrebarsko, Croatia, we are currently increasing production capacities. We are about to start the extensive refurbishment of the Hotel Vital in Dol enjske Toplice (Slovenia) to improve accommodation for patients. In Slovenia, we refurbished the conference hall in Otočec, while renovation of the swimming pool in Strunjan entered the final phase. Our joint venture Krka Pharma Private Limited started the construction of production facilities in Hyderabad, India, expected to be ready for use in slightly more than two years. The core businesses of Krka and Laurus Labs Ltd, the co-founders of the joint venture, are complementary. We had made a €11.7-million initial capital contribution to the joint venture by the end of September 2025. Employees At the end of September 2025, the Krka Group had 13,107 employees on payroll, of whom 5,455 or 42% worked abroad. Total headcount of the Krka Group, including agency workers, tallied 13,139 employees. Overall, 47% held at least a university-level qualification, including 200 employees with a doctoral degree. Krka Group employees by education 30 Sep 2025 31 Dec 2024 Headcount % Headcount % PhD 200 1.5 202 1.6 Master of science 391 3.0 396 3.1 University degree 5,629 43.0 5,435 42.4 Higher professional education 2,245 17.1 2,151 16.8 Vocational college education 367 2.8 379 3.0 Secondary school education 3,146 24.0 3,136 24.5 Other 1,129 8.6 1,111 8.6 Total 13,107 100.0 12,810 100.0 We continue to attract new talented employees by awarding scholarships. At the end of September, Krka had 61 scholarship holders, primarily pharmacy and chemistry students. We also offer scholarships to exceptional students from other fields of interest to Krka. Our personnel development and succession planning system ensures that Krka Group employees fill most of our key professional and managerial positions.
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20 January to September 2025 Unaudited Interim Report of the Krka Group and Krka We also invest in enhancement and development of their professional skills and expertise. They undergo professional training in their respective specialist areas and participate in training programmes on quality, leadership, information technology, personal development, and foreign languages in Slovenia as well as abroad. We deliver most educational programmes in -house and tailor them to employee needs, technological processes, market situations, and development needs of the Krka Group. We regularly update these programmes and introduce new forms of training adapted to the contemporary work practices. At the end of September, 140 employees were enrolled in part-time studies co-funded by Krka, 33 of them at the postgraduate level. Krka is also included in the national vocational qualification (NVQ) system. Between 2004 and the end of September 2025, we awarded 2,189 NVQ certificates to Krka employees for four vocational qualifications. At the end of September 2025, 80 Krka employees were included in the proces s of obtaining a national vocational qualification. Encouraging scientific excellence among young people, we awarded prizes to the authors of the best undergraduate and postgraduate research projects for the 55th consecutive year. A total of 54 authors received a Krka Prize, including five who were honoured with the highest accolade – the Grand Krka Prize. Four authors received Special Recognition Prizes for exceptional research work. Additionally, 69 research projects received a Krka Award. Over the past 55 years, we have awarded a total of 3,297 Krka Prizes. These awards offer a valuable encouragement to young people embarking on scientific and research careers. They also reflect the outstanding work of mentors, whose guidance and motivation play a key role in helping young researchers shape their ideas and present their findings to the scientific community. The awarded projects cover a wide range of topics, with particular emphasis on development of medicines and innovative approaches to treating chronic diseases. Young researchers also demonstrate strong environmental awareness and highlight the importance of sustainable solutions in their work.
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January to September 2025 Unaudited Interim Report of the Krka Group and Krka 21 CONDENSED CONSOLIDATED FINANCIAL STATEMENTS OF THE KRKA GROUP, WITH NOTES Consolidated statement of financial position of the Krka Group € thousand 30 Sep 2025 31 Dec 2024 Index Assets Property, plant and equipment 824,859 806,646 102 Intangible assets 99,045 100,747 98 Investments in joint ventures 10,555 2,492 424 Loans 24,335 35,330 69 Investments 21,319 22,024 97 Deferred tax assets 67,154 54,434 123 Other non-current assets 1,194 1,228 97 Total non-current assets 1,048,461 1,022,901 102 Assets held for sale 41 44 93 Inventories 657,720 638,608 103 Contract assets 453 672 67 Trade receivables 615,658 552,710 111 Other receivables 29,552 28,891 102 Loans 15,900 10,506 151 Investments 229,286 249,794 92 Cash and cash equivalents 370,551 344,895 107 Total current assets 1,919,161 1,826,120 105 Total assets 2,967,622 2,849,021 104 Equity Share capital 54,732 54,732 100 Treasury shares -203,381 -163,491 124 Reserves 212,157 136,315 156 Retained earnings 2,223,053 2,190,627 101 Total equity attributable to the holders of the controlling company 2,286,561 2,218,183 103 Non-controlling interests 18,484 19,601 94 Total equity 2,305,045 2,237,784 103 Liabilities Provisions 140,807 136,895 103 Deferred income 5,436 5,654 96 Lease liabilities 14,690 9,502 155 Deferred tax liabilities 10,449 10,611 98 Total non-current liabilities 171,382 162,662 105 Trade payables 149,281 148,285 101 Lease liabilities 4,354 3,649 119 Income tax payables 35,432 24,379 145 Contract liabilities 183,603 166,078 111 Other current liabilities 118,525 106,184 112 Total current liabilities 491,195 448,575 110 Total liabilities 662,577 611,237 108 Total equity and liabilities 2,967,622 2,849,021 104
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22 January to September 2025 Unaudited Interim Report of the Krka Group and Krka Consolidated income statement of the Krka Group € thousand Jan–Sep 2025 Jan–Sep 2024 Index Revenue 1,534,028 1,434,662 107 – Revenue from contracts with customers 1,531,187 1,432,117 107 – Other revenue 2,841 2,545 112 Cost of goods sold -649,176 -615,339 105 Gross profit 884,852 819,323 108 Other operating income 5,386 5,090 106 Selling and distribution expenses -288,986 -268,961 107 – Whereof net impairments and write-offs of receivables -2,357 676 R&D expenses -143,733 -136,364 105 General and administrative expenses -90,365 -86,479 104 Operating profit 367,154 332,609 110 Financial income 47,020 20,538 229 Financial expenses -18,721 -15,816 118 Net financial result 28,299 4,722 599 Profit before tax 395,453 337,331 117 Income tax expense -71,799 -56,304 128 Net profit 323,654 281,027 115 Attributable to: – Equity holders of the controlling company 322,927 281,116 115 – Non-controlling interests 727 -89 Basic earnings per share (€)* 10.56 9.13 116 Diluted earnings per share (€)** 10.56 9.13 116 * Net profit/Average number of shares issued in the period, excluding treasury shares ** All shares issued by the controlling company are ordinary shares, hence the diluted earnings per share ratio equalled basic earnings per share. Consolidated statement of other comprehensive income of the Krka Group € thousand Jan–Sep 2025 Jan–Sep 2024 Index Net profit 323,654 281,027 115 Other comprehensive income for the period Other comprehensive income reclassified to profit or loss at a future date Translation reserve 34,658 -7,998 Net other comprehensive income reclassified to profit or loss at a future date 34,658 -7,998 Other comprehensive income that will not be reclassified to profit or loss at a future date Change in fair value of financial assets -705 -4,011 18 Deferred tax effect 155 882 18 Net other comprehensive income that will not be reclassified to profit or loss at a future date -550 -3,129 18 Total other comprehensive income for the period (net of tax) 34,108 -11,127 Total comprehensive income for the period (net of tax) 357,762 269,900 133 Attributable to: – Equity holders of the controlling company 358,879 269,989 133 – Non-controlling interests -1,117 -89 1,255
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January to September 2025 Unaudited Interim Report of the Krka Group and Krka 23 Consolidated statement of changes in equity of the Krka Group € thousand Share capital Treasury shares Reserves Retained earnings Total equity attributable to the holders of the controlling company Non- controlling interests Total equity Reserves for treasury shares Share premium Legal reserves Statutory reserves Fair value reserve Translation reserve Other profit reserves Retained earnings from previous periods Profit for the period Balance at 1 Jan 2025 54,732 -163,491 163,491 105,897 14,990 30,000 -11,362 -166,701 1,620,098 238,545 331,984 2,218,183 19,601 2,237,784 Net profit 0 0 0 0 0 0 0 0 0 0 322,927 322,927 727 323,654 Total other comprehensive income for the period (net of tax) 0 0 0 0 0 0 -549 36,501 0 0 0 35,952 -1,844 34,108 Total comprehensive income for the period (net of tax) 0 0 0 0 0 0 -549 36,501 0 0 322,927 358,879 -1,117 357,762 Transactions with owners, recognised in equity Formation of other profit reserves under the resolution of the AGM 0 0 0 0 0 0 0 0 59,053 -59,053 0 0 0 0 Transfer of previous periods’ profit to retained earnings 0 0 0 0 0 0 0 0 0 331,984 -331,984 0 0 0 Repurchase of treasury shares 0 -39,890 0 0 0 0 0 0 0 0 0 -39,890 0 -39,890 Formation of reserves for treasury shares 0 0 39,890 0 0 0 0 0 0 0 -39,890 0 0 0 Dividends paid 0 0 0 0 0 0 0 0 0 -250,611 0 -250,611 0 -250,611 Total transactions with owners, recognised in equity 0 -39,890 39,890 0 0 0 0 0 59,053 22,320 -371,874 -290,501 0 -290,501 Balance at 30 Sep 2025 54,732 -203,381 203,381 105,897 14,990 30,000 -11,911 -130,200 1,679,151 260,865 283,037 2,286,561 18,484 2,305,045
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24 January to September 2025 Unaudited Interim Report of the Krka Group and Krka € thousand Share capital Treasury shares Reserves Retained earnings Total equity attributable to the holders of the controlling company Non- controlling interests Total equity Reserves for treasury shares Share premium Legal reserves Statutory reserves Fair value reserve Translation reserve Other profit reserves Retained earnings from previous periods Profit for the period Balance at 1 Jan 2024 54,732 -138,489 138,489 105,897 14,990 30,000 -511 -134,370 1,544,595 246,699 300,023 2,162,055 19,711 2,181,766 Net profit 0 0 0 0 0 0 0 0 0 0 281,116 281,116 -89 281,027 Total other comprehensive income for the period (net of tax) 0 0 0 0 0 0 -3,122 -8,005 0 0 0 -11,127 0 -11,127 Total comprehensive income for the period (net of tax) 0 0 0 0 0 0 -3,122 -8,005 0 0 281,116 269,989 -89 269,900 Transactions with owners, recognised in equity Formation of other profit reserves under the resolution of the AGM 0 0 0 0 0 0 0 0 75,503 -75,503 0 0 0 0 Transfer of previous periods’ profit to retained earnings 0 0 0 0 0 0 0 0 0 300,023 -300,023 0 0 0 Repurchase of treasury shares 0 -16,632 0 0 0 0 0 0 0 0 0 -16,632 0 -16,632 Formation of reserves for treasury shares 0 0 16,632 0 0 0 0 0 0 0 -16,632 0 0 0 Dividends paid 0 0 0 0 0 0 0 0 0 -230,933 0 -230,933 0 -230,933 Total transactions with owners, recognised in equity 0 -16,632 16,632 0 0 0 0 0 75,503 -6,413 -316,655 -247,565 0 -247,565 Balance at 30 Sep 2024 54,732 -155,121 155,121 105,897 14,990 30,000 -3,633 -142,375 1,620,098 240,286 264,484 2,184,479 19,622 2,204,101
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January to September 2025 Unaudited Interim Report of the Krka Group and Krka 25 Consolidated statement of cash flows of the Krka Group
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26 January to September 2025 Unaudited Interim Report of the Krka Group and Krka Segment reporting of the Krka Group € thousand European Union South-Eastern Europe Eastern Europe Total segment reporting Other Eliminations Total Jan–Sep 2025 Jan–Sep 2024 Jan–Sep 2025 Jan–Sep 2024 Jan–Sep 2025 Jan–Sep 2024 Jan–Sep 2025 Jan–Sep 2024 Jan–Sep 2025 Jan–Sep 2024 Jan–Sep 2025 Jan–Sep 2024 Jan–Sep 2025 Jan–Sep 2024 Revenue from sales to non-group customers 827,176 777,017 91,679 82,479 533,792 484,429 1,452,647 1,343,925 81,381 90,737 1,534,028 1,434,662 Revenue from sales to intra-group customers 335,822 310,404 56,569 52,094 549,759 501,738 942,150 864,236 15,139 19,346 -957,289 -883,582 0 0 Total revenue 1,162,998 1,087,421 148,248 134,573 1,083,551 986,167 2,394,797 2,208,161 96,520 110,083 -957,289 -883,582 1,534,028 1,434,662 Other operating income 3,222 4,126 24 30 688 493 3,934 4,649 1,452 441 5,386 5,090 Operating expenses -689,280 -654,843 -60,545 -56,176 -359,991 -325,200 -1,109,816 -1,036,219 -62,444 -70,924 -1,172,260 -1,107,143 Intra-group operating expenses, including elimination of profits -335,822 -310,404 -56,569 -52,094 -549,759 -501,738 -942,150 -864,236 -15,139 -19,346 957,289 883,582 0 0 Operating profit 141,118 126,300 31,158 26,333 174,489 159,722 346,765 312,355 20,389 20,254 0 0 367,154 332,609 Interest income 7,025 9,189 1 1 1,087 773 8,113 9,963 759 920 8,872 10,883 Intra-group interest income 1,600 3,557 0 0 0 0 1,600 3,557 0 0 -1,600 -3,557 0 0 Interest expense -277 -98 -9 -9 -187 -170 -473 -277 -9 -16 -482 -293 Intra-group interest expense -1,600 -3,557 0 0 0 0 -1,600 -3,557 0 0 1,600 3,557 0 0 Net financial result 6,783 14,925 -448 -158 25,816 -10,113 32,151 4,654 -3,852 68 28,299 4,722 Income tax expense -30,257 -23,694 -6,115 -4,168 -32,690 -25,347 -69,062 -53,209 -2,737 -3,095 -71,799 -56,304 Net profit 117,644 117,531 24,595 22,007 167,615 124,262 309,854 263,800 13,800 17,227 0 0 323,654 281,027 Investments 60,987 85,678 411 483 4,768 4,431 66,166 90,592 576 1,111 66,742 91,703 Depreciation of property, plant and equipment 42,149 42,891 1,607 1,503 15,582 14,533 59,338 58,927 2,331 2,199 61,669 61,126 Depreciation of right-of-use assets 2,576 2,302 106 93 517 419 3,199 2,814 70 61 3,269 2,875 Amortisation of intangible assets 2,864 3,118 236 258 1,363 1,520 4,463 4,896 179 242 4,642 5,138 30 Sep 2025 31 Dec 2024 30 Sep 2025 31 Dec 2024 30 Sep 2025 31 Dec 2024 30 Sep 2025 31 Dec 2024 30 Sep 2025 31 Dec 2024 30 Sep 2025 31 Dec 2024 30 Sep 2025 31 Dec 2024 Total assets 2,105,258 2,078,751 85,913 76,528 664,085 577,157 2,855,256 2,732,436 112,366 116,585 2,967,622 2,849,021 Non-current assets exclusive of deferred tax assets 859,633 854,447 6,536 6,336 87,140 74,061 953,309 934,844 27,998 33,623 981,307 968,467 Total liabilities 428,148 410,885 24,245 19,913 169,059 138,560 621,452 569,358 41,125 41,879 662,577 611,237 The Krka Group reports revenue by specific geographic areas in which customers operate. The data are calculated based on revenue and expenses, as well as the assets and liabilities associated with each individual market of the Krka Group. Eliminations refer to business transactions between the controlling company and its subsidiaries, as well as those bet ween subsidiaries.
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January to September 2025 Unaudited Interim Report of the Krka Group and Krka 27 Notes to consolidated financial statements of the Krka Group Costs by nature €1,172,260 thousand € thousand Jan–Sep 2025 Jan–Sep 2024 Index Cost of goods and materials 403,186 382,140 106 Cost of services 187,507 206,069 91 Employee benefit expenses 469,202 410,873 114 Amortisation and depreciation 69,580 69,139 101 Net write-offs and allowances for inventories 12,263 12,413 99 Net impairments and write-offs of receivables 2,357 -676 Other operating expenses 32,277 33,341 97 Total costs 1,176,372 1,113,299 106 Change in the value of inventories of finished products and work in progress -4,112 -6,156 67 Total 1,172,260 1,107,143 106 Employee benefits €469,202 thousand € thousand Jan–Sep 2025 Jan–Sep 2024 Index Gross wages and salaries and continued pay 362,474 319,323 114 Social security contributions 25,269 21,798 116 Pension insurance contributions 50,396 44,551 113 Payroll tax 649 603 108 Post-employment benefits and other non-current employee benefits 5,507 4,478 123 Other employee benefit expense 24,907 20,120 124 Total employee benefits 469,202 410,873 114 Other operating expenses €32,277 thousand € thousand Jan–Sep 2025 Jan–Sep 2024 Index Grants and assistance for humanitarian and other purposes 1,593 1,593 100 Environmental protection expenditures 4,508 6,159 73 Other taxes and levies 21,352 19,520 109 Loss on sale and write-offs of property, plant and equipment and intangible assets 1,138 1,772 64 Other operating expenses 3,686 4,297 86 Total other operating expenses 32,277 33,341 97 Other levies include various taxes and levies on pharmaceuticals and fees paid to medical representatives in individual countries for pursuing promotional activities.
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28 January to September 2025 Unaudited Interim Report of the Krka Group and Krka Financial income and expenses € thousand Jan–Sep 2025 Jan–Sep 2024 Index Net foreign exchange gains 33,992 0 Interest income 8,872 10,883 82 Derivative income 49 1,719 3 – Realised revenue 49 1,719 3 Income from other financial instruments 4,021 7,145 56 – Realised revenue 5,878 9,682 61 – Change in fair value -1,857 -2,537 73 Income from dividends 44 760 6 Share of profit from equity-accounted investments 39 0 Other financial income 3 31 10 Total financial income 47,020 20,538 229 Net foreign exchange losses 0 -6,641 0 Interest expense -482 -293 165 – Interest paid -4 62 – Interest expense on lease liabilities -478 -355 135 Derivative expenses -8,777 -2,331 377 – Realised expenses -2,504 -1,584 158 – Change in fair value -6,273 -747 840 Other financial expenses -9,462 -6,551 144 Total financial expenses -18,721 -15,816 118 Net financial result 28,299 4,722 599 Income tax expense €71,799 thousand Current income tax amounted to €80,742 thousand or 20.4% of profit before tax. Taking into account deferred tax of -€9,096 thousand and other income-based taxes of €153 thousand, the tax expensed in the income statement totalled €71,799 thousand. The effective tax rate was 18.2%. Property, plant and equipment €824,859 thousand € thousand 30 Sep 2025 31 Dec 2024 Index Land 65,817 65,317 101 Buildings 336,184 334,182 101 Equipment 308,877 317,045 97 Property, plant and equipment being acquired 95,375 77,460 123 Right-of-use assets 18,606 12,642 147 Total property, plant and equipment 824,859 806,646 102 The value of property, plant, and equipment accounted for 28% of the Krka Group balance sheet total. See the ‘Investments’ section in the business report for details on major investments of Krka. Intangible assets €99,045 thousand € thousand 30 Sep 2025 31 Dec 2024 Index Goodwill 42,644 42,644 100 Trademark 31,652 32,305 98 Concessions, trademarks and licences 15,494 15,795 98 Other intangible assets 5,954 7,741 77 – Long-term deferred operating costs 138 185 75 – Development-related projects 3,792 4,389 86 – Emission coupons 2,024 3,167 64 Intangible assets being acquired 3,301 2,262 146 Total intangible assets 99,045 100,747 98
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January to September 2025 Unaudited Interim Report of the Krka Group and Krka 29 Loans €40,235 thousand € thousand 30 Sep 2025 31 Dec 2024 Index Non-current loans 24,335 35,330 69 – Loans to others 24,335 35,330 69 Current loans 15,900 10,506 151 – Portion of non-current loans maturing next year 9,652 9,970 97 – Loans to others 4,563 20 22,815 – Deposits granted to banks 1 2 50 – Current interest receivable 1,684 514 328 Total loans 40,235 45,836 88 Investments €250,605 thousand € thousand 30 Sep 2025 31 Dec 2024 Index Non-current investments 21,319 22,024 97 – Investments at fair value through OCI (equity instruments) 21,319 22,024 97 Current investments including derivatives 229,286 249,794 92 – Investments at fair value through profit or loss 229,286 224,110 102 – Investments at amortised cost (debt instruments) 0 20,231 0 – Derivatives 0 5,453 0 Total investments 250,605 271,818 92 Investments at fair value through OCI comprised €1,517 thousand of investments in shares and interests in companies in Slovenia (end of 2024: €1,137 thousand), and €19,802 thousand of investments in shares and interests in companies outside Slovenia (end of 2024: €20,887 thousand). The increase in investments at fair value through profit or loss of €5,176 thousand included acquisitions of treasury bills of €396,156 thousand, disposals of treasury bills due to their maturity of €395,001 thousand, realised financial income from disposal of treasury bills of €5,878 thousand, and treasury bill revaluation loss of €1,857 thousand. The decrease in investments at amortised cost of €20,231 thousand occurred due to the maturity of government bonds. Inventories €657,720 thousand € thousand 30 Sep 2025 31 Dec 2024 Index Material 260,240 266,402 98 Work in progress 118,044 121,520 97 Finished products 178,960 180,986 99 Merchandise 50,340 32,783 154 Advances for inventories 50,136 36,917 136 Total inventories 657,720 638,608 103 Trade and other receivables €645,210 thousand € thousand 30 Sep 2025 31 Dec 2024 Index Current trade receivables 615,658 552,710 111 Current receivables due from others 29,552 28,891 102 Total trade and other receivables 645,210 581,601 111
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30 January to September 2025 Unaudited Interim Report of the Krka Group and Krka Cash and cash equivalents €370,551 thousand € thousand 30 Sep 2025 31 Dec 2024 Index Cash in hand 58 52 112 Bank balances 370,493 344,843 107 Total cash and cash equivalents 370,551 344,895 107 Bank balances included a deposit of €235,776 thousand with a maturity of up to 90 days (31 December 2024: €204,438 thousand). Equity €2,305,045 thousand € thousand 30 Sep 2025 31 Dec 2024 Index Share capital 54,732 54,732 100 Treasury shares -203,381 -163,491 124 Reserves 212,157 136,315 156 – Reserves for treasury shares 203,381 163,491 124 – Share premium 105,897 105,897 100 – Legal reserves 14,990 14,990 100 – Statutory reserves 30,000 30,000 100 – Fair value reserve -11,911 -11,362 105 – Translation reserve -130,200 -166,701 78 Retained earnings 2,223,053 2,190,627 101 Total equity attributable to the holders of the controlling company 2,286,561 2,218,183 103 Non-controlling interests 18,484 19,601 94 Total equity 2,305,045 2,237,784 103 Provisions €140,807 thousand € thousand 30 Sep 2025 31 Dec 2024 Index Provisions for lawsuits 7,559 7,598 99 Provisions for post-employment benefits 110,639 107,900 103 Provisions for other non-current employee benefits 22,113 20,865 106 Other provisions 496 532 93 Total provisions 140,807 136,895 103 Deferred income €5,436 thousand € thousand 30 Sep 2025 31 Dec 2024 Index Grants received from the European Regional Development Fund and budget of the Republic of Slovenia intended for the production of pharmaceuticals in the new Notol 2 plant 533 572 93 Grants received from the budget for the Dolenjske and Šmarješke Toplice health resorts and Golf Grad Otočec 3,009 3,059 98 Grants received from the European Regional Development Fund (Farma GRS) 1,283 1,407 91 Subsidy for acquisition of electric drive vehicles 1 1 100 Property, plant and equipment received free of charge 7 17 41 Emission coupons 10 10 100 Subsidy for purchase of joinery 87 88 99 Subsidy for upgrading trucks 36 6 600 Subsidy for electricity production from renewable energy installations 470 494 95 Total deferred income 5,436 5,654 96
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January to September 2025 Unaudited Interim Report of the Krka Group and Krka 31 Trade payables €149,281 thousand € thousand 30 Sep 2025 31 Dec 2024 Index Current trade payables 149,281 148,285 101 Payables to domestic suppliers 50,660 50,266 101 Payables to foreign suppliers 98,621 98,019 101 Total trade payables 149,281 148,285 101 Current contract liabilities €183,603 thousand € thousand 30 Sep 2025 31 Dec 2024 Index Refund liabilities 178,187 160,979 111 – Bonuses and volume rebates 176,517 159,148 111 – Rights of return 1,670 1,831 91 Contract liabilities 5,416 5,099 106 – Deferred income 1,203 1,187 101 – Advances from other customers 4,213 3,912 108 Total current contract liabilities 183,603 166,078 111 Other current liabilities €118,525 thousand € thousand 30 Sep 2025 31 Dec 2024 Index Payables to employees – gross salaries, other receipts and charges 101,092 92,318 110 Derivatives 819 0 Other 16,614 13,866 120 Total other current liabilities 118,525 106,184 112 Contingent liabilities €28,150 thousand € thousand 30 Sep 2025 31 Dec 2024 Index Guarantees issued 27,287 17,238 158 Other 863 819 105 Total contingent liabilities 28,150 18,057 156
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32 January to September 2025 Unaudited Interim Report of the Krka Group and Krka Fair value € thousand 30 Sep 2025 31 Dec 2024 Carrying amount Fair value Carrying amount Fair value Non-current financial assets Loans 24,335 35,330 Investments at fair value through OCI (equity instruments) 21,319 21,319 22,024 22,024 Current financial assets Loans 15,900 10,506 Investments at fair value through profit or loss 229,286 229,286 224,110 224,110 Investments at amortised cost (debt instruments) 0 20,231 Derivatives 0 0 5,453 5,453 Trade receivables 615,658 552,710 Cash and cash equivalents 370,551 344,895 Non-current financial liabilities Lease liabilities -14,690 -9,502 Current financial liabilities Derivatives -819 -819 0 0 Lease liabilities -4,354 -3,649 Trade payables excluding advances -149,281 -148,285 Contract liabilities excluding advances -176,517 -159,148 Other liabilities excluding amounts owed to the state, to employees, and advances -4,338 -6,056 Total 927,050 249,786 888,619 251,587 In terms of fair value, assets and liabilities are classified into three levels: • Level 1 – Assets at market price; • Level 2 – Assets not classified within level 1 and the value of which is determined directly or indirectly based on observable market data; • Level 3 – Assets the value of which cannot be determined using market data. Assets at fair value € thousand 30 Sep 2025 31 Dec 2024 Level 1 Level 2 Level 3 Total Level 1 Level 2 Level 3 Total Assets at fair value Investments at fair value through OCI (equity instruments) 19,932 0 1,387 21,319 20,637 0 1,387 22,024 Investments at fair value through profit or loss 229,286 0 0 229,286 224,110 0 0 224,110 Derivatives 0 0 0 0 0 0 5,453 5,453 Total assets at fair value 249,218 0 1,387 250,605 244,747 0 6,840 251,587
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January to September 2025 Unaudited Interim Report of the Krka Group and Krka 33 CONDENSED FINANCIAL STATEMENTS OF KRKA, D. D., NOVO MESTO, WITH NOTES Statement of financial position of Krka, d. d., Novo mesto € thousand 30 Sep 2025 31 Dec 2024 Index Assets Property, plant and equipment 611,226 609,628 100 Intangible assets 23,804 25,026 95 Investments in subsidiaries 355,265 355,265 100 Investments in joint ventures 11,726 2,492 471 Loans 24,903 23,401 106 Investments 21,318 22,023 97 Deferred tax assets 5,417 5,677 95 Other non-current assets 644 668 96 Total non-current assets 1,054,303 1,044,180 101 Assets held for sale 41 41 100 Inventories 562,848 548,188 103 Trade receivables 591,653 518,425 114 Other receivables 16,324 13,800 118 Loans 6,200 9,025 69 Investments 229,286 249,794 92 Cash and cash equivalents 262,525 238,183 110 Total current assets 1,668,877 1,577,456 106 Total assets 2,723,180 2,621,636 104 Equity Share capital 54,732 54,732 100 Treasury shares -203,381 -163,491 124 Reserves 344,283 304,943 113 Retained earnings 2,017,651 1,990,167 101 Total equity 2,213,285 2,186,351 101 Liabilities Provisions 130,113 125,667 104 Deferred income 2,426 2,585 94 Lease liabilities 6,960 2,181 319 Total non-current liabilities 139,499 130,433 107 Trade payables 196,170 171,183 115 Borrowings 41,860 17,805 235 Lease liabilities 1,671 1,118 149 Income tax payables 30,456 17,524 174 Contract liabilities 16,677 18,112 92 Other current liabilities 83,562 79,110 106 Total current liabilities 370,396 304,852 122 Total liabilities 509,895 435,285 117 Total equity and liabilities 2,723,180 2,621,636 104
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34 January to September 2025 Unaudited Interim Report of the Krka Group and Krka Income statement of Krka, d. d., Novo mesto € thousand Jan–Sep 2025 Jan–Sep 2024 Index Revenue 1,415,996 1,328,449 107 – Revenue from contracts with customers 1,409,393 1,321,251 107 – Other revenue 6,603 7,198 92 Cost of goods sold -600,269 -583,293 103 Gross profit 815,727 745,156 109 Other operating income 1,802 2,368 76 Selling and distribution expenses -249,351 -230,087 108 – Whereof net impairments and write-offs of receivables -2,533 476 R&D expenses -141,494 -133,296 106 General and administrative expenses -78,345 -75,191 104 Operating profit 348,339 308,950 113 Financial income 52,594 21,918 240 Financial expenses -13,146 -15,099 87 Net financial result 39,448 6,819 579 Profit before tax 387,787 315,769 123 Income tax expense -69,802 -49,323 142 Net profit 317,985 266,446 119 Basic earnings per share (€)* 10.40 8.65 120 Diluted earnings per share (€)** 10.40 8.65 120 * Net profit/Average number of shares issued in the period, excluding treasury shares ** All shares issued by the controlling company are ordinary shares, hence the diluted earnings per share ratio equalled basi c earnings per share. Statement of other comprehensive income of Krka, d. d., Novo mesto € thousand Jan–Sep 2025 Jan–Sep 2024 Index Net profit 317,985 266,446 119 Other comprehensive income for the period Other comprehensive income that will not be reclassified to profit or loss at a future date Change in fair value of financial assets -705 -4,011 18 Deferred tax effect 155 882 18 Net other comprehensive income that will not be reclassified to profit or loss at a future date -550 -3,129 18 Total other comprehensive income for the period (net of tax) -550 -3,129 18 Total comprehensive income for the period (net of tax) 317,435 263,317 121
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January to September 2025 Unaudited Interim Report of the Krka Group and Krka 35 Statement of changes in equity of Krka, d. d., Novo mesto € thousand Share capital Treasury shares Reserves Retained earnings Total equity Reserves for treasury shares Share premium Legal reserves Statutory reserves Fair value reserve Other profit reserves Retained earnings from previous periods Profit for the period Balance at 1 Jan 2025 54,732 -163,491 163,491 105,897 14,990 30,000 -9,435 1,620,098 73,879 296,190 2,186,351 Net profit 0 0 0 0 0 0 0 0 0 317,985 317,985 Total other comprehensive income for the period (net of tax) 0 0 0 0 0 0 -550 0 0 0 -550 Total comprehensive income for the period (net of tax) 0 0 0 0 0 0 -550 0 0 317,985 317,435 Transactions with owners, recognised in equity Formation of other profit reserves under the resolution of the AGM 0 0 0 0 0 0 0 59,053 -59,053 0 0 Transfer of previous periods’ profit to retained earnings 0 0 0 0 0 0 0 0 296,190 -296,190 0 Repurchase of treasury shares 0 -39,890 0 0 0 0 0 0 0 0 -39,890 Formation of reserves for treasury shares 0 0 39,890 0 0 0 0 0 0 -39,890 0 Dividends paid 0 0 0 0 0 0 0 0 -250,611 0 -250,611 Total transactions with owners, recognised in equity 0 -39,890 39,890 0 0 0 0 59,053 -13,474 -336,080 -290,501 Balance at 30 Sep 2025 54,732 -203,381 203,381 105,897 14,990 30,000 -9,985 1,679,151 60,405 278,095 2,213,285
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36 January to September 2025 Unaudited Interim Report of the Krka Group and Krka € thousand Share capital Treasury shares Reserves Retained earnings Total equity Reserves for treasury shares Share premium Legal reserves Statutory reserves Fair value reserve Other profit reserves Retained earnings from previous periods Profit for the period Balance at 1 Jan 2024 54,732 -138,489 138,489 105,897 14,990 30,000 1,105 1,544,595 101,381 280,558 2,133,258 Net profit 0 0 0 0 0 0 0 0 0 266,446 266,446 Total other comprehensive income for the period (net of tax) 0 0 0 0 0 0 -3,129 0 0 0 -3,129 Total comprehensive income for the period (net of tax) 0 0 0 0 0 0 -3,129 0 0 266,446 263,317 Transactions with owners, recognised in equity Formation of other profit reserves under the resolution of the AGM 0 0 0 0 0 0 0 75,503 -75,503 0 0 Transfer of previous periods’ profit to retained earnings 0 0 0 0 0 0 0 0 280,558 -280,558 0 Repurchase of treasury shares 0 -16,632 0 0 0 0 0 0 0 0 -16,632 Formation of reserves for treasury shares 0 0 16,632 0 0 0 0 0 0 -16,632 0 Dividends paid 0 0 0 0 0 0 0 0 -230,933 0 -230,933 Total transactions with owners, recognised in equity 0 -16,632 16,632 0 0 0 0 75,503 -25,878 -297,190 -247,565 Balance at 30 Sep 2024 54,732 -155,121 155,121 105,897 14,990 30,000 -2,024 1,620,098 75,503 249,814 2,149,010
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January to September 2025 Unaudited Interim Report of the Krka Group and Krka 37 Statement of cash flows of Krka, d. d., Novo mesto € thousand Jan–Sep 2025 Jan–Sep 2024 CASH FLOWS FROM OPERATING ACTIVITIES Net profit 317,985 266,446 Adjustments for: 136,149 100,847 – Amortisation/Depreciation 51,669 53,177 – Net foreign exchange gains and losses 3,324 1,127 – Net write-offs and allowances for inventories 7,114 10,333 – Net impairments and write-offs of receivables 2,533 -476 – Investment income -12,587 -22,780 – Investment expenses 9,929 4,005 – Income on financing activities -2 -2 – Interest expense and other financial expenses 4,367 6,140 – Income tax expense 69,802 49,323 Operating profit before changes in net current assets 454,134 367,293 Change in trade receivables -77,894 -62,961 Change in inventories -21,773 -39,470 Change in trade payables 27,155 -4,365 Change in provisions 1,413 -11,176 Change in deferred income -159 -205 Change in other current liabilities 4,984 -7,672 Income tax paid -56,454 -6,500 Net cash flow from operating activities 331,406 234,944 CASH FLOWS FROM INVESTING ACTIVITIES Interest received 5,883 9,126 Dividends received 44 941 Proportionate profit of subsidiaries 1,904 13,663 Proceeds from sale of property, plant and equipment 1,421 2,632 Purchase of property, plant and equipment -47,697 -61,232 Purchase of intangible assets -3,932 -3,918 Refunds of subsequent contributions to subsidiaries 0 2,000 Acquisition of interest in joint ventures -9,234 0 Proceeds from non-current loans 1,765 31,495 Payments for non-current loans -3,444 -2,132 Net proceeds from current loans 548 45,579 Proceeds from sale of non-current investments 20,276 60,866 Payments for acquiring non-current investments -22 -44 Proceeds from sale of current investments 395,000 477,235 Payments for acquiring current investments -396,155 -455,480 Proceeds from derivatives 49 1,719 Payments for derivatives -2,504 -1,584 Net cash flow from investing activities -36,098 120,866 CASH FLOWS FROM FINANCING ACTIVITIES Interest paid -1,135 -2,945 Net proceeds from/payments for current borrowings 23,977 -44,300 Lease liabilities paid -1,139 -871 Dividends and other profit shares paid -251,962 -230,884 Repurchase of treasury shares -39,890 -16,632 Net cash flow from financing activities -270,149 -295,632 Net increase in cash and cash equivalents 25,159 60,178 Cash and cash equivalents at beginning of year 238,183 140,993
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38 January to September 2025 Unaudited Interim Report of the Krka Group and Krka Effect of changes in exchange rates on cash held -817 -665 Closing balance of cash and cash equivalents 262,525 200,506
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January to September 2025 Unaudited Interim Report of the Krka Group and Krka 39 Costs by nature €1,069,459 thousand € thousand Jan–Sep 2025 Jan–Sep 2024 Index Cost of goods and materials 394,919 380,415 104 Cost of services 253,649 260,084 98 Employee benefit expenses 337,954 292,388 116 Amortisation and depreciation 51,669 53,177 97 Net write-offs and allowances for inventories 7,114 10,333 69 Net impairments and write-offs of receivables 2,533 -476 Other operating expenses 23,283 24,308 96 Total costs 1,071,121 1,020,229 105 Change in the value of inventories of finished products and work in progress -1,662 1,638 Total 1,069,459 1,021,867 105 Employee benefits €337,954 thousand € thousand Jan–Sep 2025 Jan–Sep 2024 Index Gross wages and salaries and continued pay 261,147 227,713 115 Social security contributions 18,728 15,643 120 Pension insurance contributions 33,424 29,686 113 Post-employment benefits and other non-current employee benefits 5,190 4,073 127 Other employee benefit expense 19,465 15,273 127 Total employee benefits 337,954 292,388 116 Other operating expenses €23,283 thousand € thousand Jan–Sep 2025 Jan–Sep 2024 Index Grants and assistance for humanitarian and other purposes 1,472 1,452 101 Environmental protection expenditures 2,924 4,737 62 Other taxes and levies 15,577 14,092 111 Loss on sale and write-offs of property, plant and equipment and intangible assets 1,054 1,681 63 Other operating expenses 2,256 2,346 96 Total other operating expenses 23,283 24,308 96 Other levies include various taxes and levies on pharmaceuticals and fees paid to medical representatives in individual countries for pursuing promotional activities.
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40 January to September 2025 Unaudited Interim Report of the Krka Group and Krka Financial income and expenses € thousand Jan–Sep 2025 Jan–Sep 2024 Index Net foreign exchange gains 40,520 0 Interest income 6,042 8,325 73 Derivative income 49 1,719 3 – Realised revenue 49 1,719 3 Income from other financial instruments 4,021 7,145 56 – Realised revenue 5,878 9,682 61 – Change in fair value -1,857 -2,537 73 Income from dividends and other profit shares 1,962 4,729 41 – Dividends 44 760 6 – Profits of subsidiaries 1,918 3,969 48 Total financial income 52,594 21,918 240 Net foreign exchange losses 0 -6,626 0 Interest expense -1,231 -2,834 43 – Interest paid -1,111 -2,774 40 – Interest expense on lease liabilities -120 -60 200 Derivative expenses -8,777 -2,331 377 – Realised expenses -2,504 -1,584 158 – Change in fair value -6,273 -747 840 Other financial expenses -3,138 -3,308 95 Total financial expenses -13,146 -15,099 87 Net financial result 39,448 6,819 579 Income tax expense €69,802 thousand Current income tax amounted to €69,233 thousand or 17.9% of profit before tax. Taking into account deferred tax of €416 thousand and other income -based taxes of €153 thousand, the tax expensed in the income statement totalled €69,802 thousand. The effective tax rate was 18.0%. Property, plant and equipment €611,226 thousand € thousand 30 Sep 2025 31 Dec 2024 Index Land 52,688 52,540 100 Buildings 222,345 226,846 98 Equipment 244,850 259,721 94 Property, plant and equipment being acquired 82,721 67,316 123 Right-of-use assets 8,622 3,205 269 Total property, plant and equipment 611,226 609,628 100 The value of property, plant and equipment accounted for 22% of the Krka balance sheet total. See the ‘Investments’ section in the business report for details on major investments of Krka. Intangible assets €23,804 thousand € thousand 30 Sep 2025 31 Dec 2024 Index Concessions, trademarks and licences 14,876 15,377 97 Other intangible assets 5,916 7,706 77 – Long-term deferred operating costs 100 150 67 – Development-related projects 3,792 4,389 86 – Emission coupons 2,024 3,167 64 Intangible assets being acquired 3,012 1,943 155 Total intangible assets 23,804 25,026 95 Intangible assets refer to software and registration documents for new pharmaceuticals.
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January to September 2025 Unaudited Interim Report of the Krka Group and Krka 41 Loans €31,103 thousand € thousand 30 Sep 2025 31 Dec 2024 Index Non-current loans 24,903 23,401 106 – Loans to subsidiaries 11,100 11,100 100 – Loans to others 13,803 12,301 112 Current loans 6,200 9,025 69 – Portion of non-current loans maturing next year 2,075 1,897 109 – Loans to subsidiaries 3,701 6,850 54 – Loans to others 14 18 78 – Current interest receivable 410 260 158 Total loans 31,103 32,426 96 Investments €250,604 thousand € thousand 30 Sep 2025 31 Dec 2024 Index Non-current investments 21,318 22,023 97 – Investments at fair value through OCI (equity instruments) 21,318 22,023 97 Current investments including derivatives 229,286 249,794 92 – Investments at fair value through profit or loss 229,286 224,110 102 – Investments at amortised cost (debt instruments) 0 20,231 0 – Derivatives 0 5,453 0 Total investments 250,604 271,817 92 Investments at fair value through OCI comprised €1,516 thousand of investments in shares and interests in companies in Slovenia (end of 2024: €1,136 thousand), and €19,802 thousand of investmen ts in shares and interests in companies outside Slovenia (end of 2024: €20,887 thousand). The increase in investments at fair value through profit or loss of €5,176 thousand included acquisitions of treasury bills of €396,156 thousand, disposals of treasury bills due to their maturity of €395,001 thousand, realised financial income from disposal of treasury bills of €5,878 thousand, and treasury bill revaluation loss of €1,857 thousand. The decrease in investments at amortised cost of €20,231 thousand occurred due to the maturity of government bonds. Inventories €562,848 thousand € thousand 30 Sep 2025 31 Dec 2024 Index Material 243,479 252,100 97 Work in progress 105,244 111,987 94 Finished products 108,123 104,504 103 Merchandise 56,055 42,786 131 Advances for inventories 49,947 36,811 136 Total inventories 562,848 548,188 103 Trade and other receivables €607,977 thousand € thousand 30 Sep 2025 31 Dec 2024 Index Current trade receivables 591,653 518,425 114 – Receivables due from subsidiaries 370,349 303,125 122 – Receivables due from customers other than Krka Group companies 221,304 215,300 103 Current receivables due from others 16,324 13,800 118 Total trade and other receivables 607,977 532,225 114
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42 January to September 2025 Unaudited Interim Report of the Krka Group and Krka Cash and cash equivalents €262,525 thousand € thousand 30 Sep 2025 31 Dec 2024 Index Bank balances 262,525 238,183 110 Total cash and cash equivalents 262,525 238,183 110 Bank balances included a deposit of €235,776 thousand with a maturity of up to 90 days (31 December 2024: €204,438 thousand). Equity €2,213,285 thousand € thousand 30 Sep 2025 31 Dec 2024 Index Share capital 54,732 54,732 100 Treasury shares -203,381 -163,491 124 Reserves: 344,283 304,943 113 – Reserves for treasury shares 203,381 163,491 124 – Share premium 105,897 105,897 100 – Legal reserves 14,990 14,990 100 – Statutory reserves 30,000 30,000 100 – Fair value reserve -9,985 -9,435 106 Retained earnings 2,017,651 1,990,167 101 Total equity 2,213,285 2,186,351 101 Provisions €130,113 thousand € thousand 30 Sep 2025 31 Dec 2024 Index Provisions for lawsuits 7,400 7,400 100 Provisions for post-employment benefits 101,700 98,515 103 Provisions for other non-current employee benefits 21,013 19,752 106 Total provisions 130,113 125,667 104 Deferred income €2,426 thousand € thousand 30 Sep 2025 31 Dec 2024 Index Grants received from the European Regional Development Fund and budget of the Republic of Slovenia intended for the production of pharmaceuticals in the new Notol 2 plant 533 572 93 Subsidy for acquisition of electric drive vehicles 1 1 100 Property, plant and equipment received free of charge 6 7 86 Emission coupons 10 10 100 Subsidy for purchase of joinery 87 88 99 Grants received from the European Regional Development Fund (Farma GRS) 1,283 1,407 91 Subsidy for upgrading trucks 36 6 600 Subsidy for electricity production from renewable energy installations 470 494 95 Total deferred income 2,426 2,585 94 Trade payables €196,170 thousand € thousand 30 Sep 2025 31 Dec 2024 Index Current trade payables 196,170 171,183 115 Payables to subsidiaries 73,094 55,307 132 Payables to domestic suppliers 46,438 46,859 99 Payables to foreign suppliers 76,638 69,017 111 Total trade payables 196,170 171,183 115
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January to September 2025 Unaudited Interim Report of the Krka Group and Krka 43 Borrowings €41,860 thousand € thousand 30 Sep 2025 31 Dec 2024 Index Current borrowings 41,860 17,805 235 – Borrowings from subsidiaries 41,540 17,564 237 – Current interest payable 320 241 133 Total borrowings 41,860 17,805 235 Current contract liabilities €16,677 thousand € thousand 30 Sep 2025 31 Dec 2024 Index Refund liabilities 13,215 15,162 87 – Bonuses and volume rebates 13,215 15,162 87 Contract liabilities 3,462 2,950 117 – Advances from non-group customers 3,462 2,950 117 Total current contract liabilities 16,677 18,112 92 Other current liabilities €83,562 thousand € thousand 30 Sep 2025 31 Dec 2024 Index Payables to employees – gross salaries, other receipts and charges 81,125 75,684 107 Derivatives 819 0 Other 1,618 3,426 47 Total other current liabilities 83,562 79,110 106 Contingent liabilities €26,055 thousand € thousand 30 Sep 2025 31 Dec 2024 Index Guarantees issued 25,192 15,193 166 Other 863 819 105 Total contingent liabilities 26,055 16,012 163
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44 January to September 2025 Unaudited Interim Report of the Krka Group and Krka Fair value € thousand 30 Sep 2025 31 Dec 2024 Carrying amount Fair value Carrying amount Fair value Non-current financial assets Loans 24,903 23,401 Investments at fair value through OCI (equity instruments) 21,318 21,318 22,023 22,023 Current financial assets Loans 6,200 9,025 Investments at fair value through profit or loss 229,286 229,286 224,110 224,110 Investments at amortised cost (debt instruments) 0 20,231 Derivatives 0 0 5,453 5,453 Trade receivables 591,653 518,425 Cash and cash equivalents 262,525 238,183 Non-current financial liabilities Lease liabilities -6,960 -2,181 Current financial liabilities Borrowings -41,860 -17,805 Derivatives -819 -819 0 0 Lease liabilities -1,671 -1,118 Payables to suppliers and subsidiaries excluding advances -196,170 -171,183 Contract liabilities excluding advances -13,215 -15,162 Other liabilities excluding amounts owed to the state, to employees, and advances -800 -2,631 Total 874,390 249,785 850,771 251,586 In terms of fair value, assets and liabilities are classified into three levels: • Level 1 – Assets at market price; • Level 2 – Assets not classified within level 1 and the value of which is determined directly or indirectly based on observable market data; • Level 3 – Assets the value of which cannot be determined using market data. Assets at fair value € thousand 30 Sep 2025 31 Dec 2024 Level 1 Level 2 Level 3 Total Level 1 Level 2 Level 3 Total Assets at fair value Investments at fair value through OCI (equity instruments) 19,932 0 1,386 21,318 20,637 0 1,386 22,023 Investments at fair value through profit or loss 229,286 0 0 229,286 224,110 0 0 224,110 Derivatives 0 0 0 0 0 0 5,453 5,453 Total assets at fair value 249,218 0 1,386 250,604 244,747 0 6,839 251,586
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January to September 2025 Unaudited Interim Report of the Krka Group and Krka 45 STATEMENT OF COMPLIANCE The Management Board of Krka, d. d., Novo mesto hereby states that the condensed financial statements of Krka and the condensed consolidated financial statements of the Krka Group for the period ended 30 September 2025 have been prepared so as to provide a true and fair view of the financial position and operating results of the Krka Group and Krka. The condensed financial statements for the period from January to Septemb er 2025 have been prepared using the same accounting policies as for the 2024 annual financial statements of the Krka Group and Krka. The condensed financial statements for the period ended 30 September 2025 have been prepared pursuant to IAS 34 – Interim Financial Reporting and have to be read in conjunction with the annual financial statements prepared for the financial year ended 31 December 2024. The Management Board is responsible for taking the measures required to preserve the assets of the Krka Group and Krka, and to prevent and detect fraud and other forms of misconduct. The Management Board states that all transactions between K rka Group subsidiaries have been executed according to the concluded purchase contracts, using market prices of products and services. No significant business transactions were concluded with other related parties. Novo mesto, 4 November 2025 Jože Colarič President of the Management Board and CEO Dr Aleš Rotar Member of the Management Board Dr Vinko Zupančič Member of the Management Board David Bratož Member of the Management Board Milena Kastelic Member of the Management Board – Worker Director