Slide 1: Summary of 1H 2025 in the TORPOL Group
Conference of the Management Board of TORPOL S.A. Summary of 1H 2025 in the TORPOL Group 8 September 2025
Slide 2: Disclaimer
This presentation (Presentation) is to provide information on the company Torpol S.A. with its office in Poznań (the Company) and TORPOL Capital Group (Torpol Group). This Presentation is for information purposes only and does not constitute or contain an offer to sell or invitation to subscribe for
Slide 3: Agenda
Agenda | torpo) TORPOL Group key data for 1H 2025 4 Significant events in TORPOL S.A. 10 Backlog of orders 13 Investment plan for 2025 14 TORPOL OIL & GAS 15 Challenges, current objectives and prospects 16 Appendices V7 3 www.torpol.pl
Slide 4: TORPOL Group results for 1H 2025
TORPOL Group -— results for 1H 2025 3 Se MN PLN BLN PLN MN PLN MN PLN NET SALES REVENUE BACKLOG (NET) EBITDA in CASH é, (+43.8% ytd) (#52:8% yoy) (+26.4% yoy) 7 il zl F MN PLN MN PLN MN PLN MN PLN GROSS PROFIT ON SALES PROFIT ON SALES OPERATING PROFIT NET PROFIT (419.2% yoy) (419.1% yoy) (¥35.3% yoy
Slide 5: Consolidated income statement
Consolidated income statement Change in Data in PLN thousand 1H2025 1H2024 %/pp ▪ In the first half of 2025, the Group generated higher Sales revenue 853 097 558 492 52,8% sales revenues (by 52.8%) and gross profit (by 19.2%) Cost of sales 794 492 509 338 56,0% than in the same period of 2024. Despi
Slide 6: Consolidated balance sheet
Consolidated balance sheet Data in PLN thousand 30/06/2025 31/12/2024 Change in % ▪ The TORPOL Group's balance sheet total at the end of the first half of Balance sheet total 1 088 391 1 206 006 -9,8% 2025 reached PLN 1.1 billion and was 9.8% lower than that presented Fixed assets 229 588 232 676 -1
Slide 7: Cash flows from operating, investing and financing activities
Cash flows from operating, investing and financing activities Data in PLN thousand 1H2025 1H2024 Change Net cash flows from operating activity 127 700 -238 642 366 342 ▪ In the first half of 2025, the TORPOL Group generated a positive balance from operating activities (PLN 127.7 million), which was
Slide 8: Summary of profitability, liquidity and order portfolio
Despite the increase in revenue and gross profit volume from sales, the Group recorded a decline in profitability of operations. The lower level of profitability is a result of a higher share of contracts in the backlog realized at a lower margin than the average realized in the first half of 2024.
Slide 9: Bids submitted and orders secured in 1H2025
▪ In 1H2025, TORPOL S.A. submitted 13 bids in proceedings conducted by various contracting authorities, including 6 bids submitted to PKP PLK. Thirteen proceedings were resolved, 6 of which were proceedings scheduled for 2024. In the resolved proceedings, the Company secured 2 orders with a total va
Slide 10: Significant events in TORPOL S.A.
▪ On February 28, 2025, the Company received information from PKP Polskie Linie Kolejowe S.A. that its bid in the tender for the expansion of railway infrastructure on railway line No. 406 and the construction of the "Port in Police" railway junction was deemed the most advantageous. The Company's b
Slide 11: Significant events: Konin bus depot and tenders
▪ On June 12, 2025, the Company received information from Miejski Zakład Komunikacji w Koninie Sp. z o.o. (Municipal Transport Company in Konin) that the bid submitted by the consortium of TORPOL S.A. (Consortium Leader) and Torpol Oil & Gas Sp. z o.o. (Consortium Partner) was deemed the most advant
Slide 12: Tender for modernization of railway line No. 38
▪ PKP Polish Railway Lines (PKP Polskie Linie Kolejowe) has opened bids in the tender for the modernization of railway line No. 38 on the Białystok–Ełk section using the "design and build" formula. ▪ The lowest bid was submitted by the consortium of TORPOL S.A. (leader) and Mirbud S.A. ▪ The value o
Slide 13: Backlog of orders (net value)
76.2 MNPLN 69.4 MN PLN 153.7 MN PLN 318.6 MN PLN 143.3 MN PLN 1760.2 MN PLN 13 | www.torpol.pl 101.6 MN PLN – TOG BACKLOG (NET VALUE) 23.5 MN PLN – other by Torpol TOTAL: PLN 3.15 BLN* 59.9 MN PLN Bocznica kolejowa ZPK Szumowo Gądki Terminal Intermodalny LK 38 Giżycko - Korsze Modernizacja stacji Os
Slide 14: The investment plan for 2025
The investment plan for 2025 In 1H25, the Group made investments of PLN 13.6 milion. The TORPOL Group’s investments included primarily the major overhaul and modernization of the Company’s Kirow 810T crane, an advance payment for a two-way vehicle for network work with HDS, the purchase of a wheel l
Slide 15: TORPOL OIL & GAS
TOG mainly carries out orders for the ORLEN Group. The Oil & Gas sector also anticipates growth despite the unstable geopolitical situation. Torpol Oil & Gas estimates procurement potential of PLN 1.5 billion in 2025. In 1H2025, TOG submitted 19 bids in proceedings conducted by various contracting a
Slide 16: Challenges, current objectives and prospects
▪ Strengthening leadership in modernization and revitalization projects in the railroad market, while maintaining market share. ▪ Implementing the strategy for 2025-2030 and achieving a cumulative consolidated net revenue of about PLN 14.5 billion and EBITDA of about PLN 840 million. ▪ Building a st
Slide 17: Appendices
torpo) APPENDICES
Slide 18: Balance sheet ratios and indebtedness
2,27 2,30 1,28 1,06 0,56 0,51 0,44 0,49 0,47 0,42 0,09 0,09 -1,42 -2,13 equity to assets ratio equity to fixed assets debt ratio equity indebtedness short-term long-term net financial debt to ratio indebtedness indebtedness EBIDTA for last 12mths 31.12.2024 30.06.2025 18 | www.torpol.pl
Slide 19: Profitability and EBITDA ratios
8,8% 6,9% 6,8% 5,7% 5,77% 5,22% 5,0% 4,6% 4,7% 3,9% 4,1% 3,6% 2,66% 2,46% Gross margin on Profit margin on EBIDTA margin EBIT margin Net margin ROA ROE sales sales 30.06.2024 30.06.2025 The presented ratios of profitability and EBITDA levels confirm the Group's very good financial position. This is
Slide 20: Consolidated income statement detail
Data in PLN thousand 1H25 Structure % 1H24 Structure % Change Change in % Sales of services 852 713 100,0% 558 326 100,0% 294 387 52,7% Revenues from sales of goods and products 384 0,0% 166 0,0% 218 131,3% Sales revenues 853 097 100,0% 558 492 100,0% 294 605 52,8% Cost of goods sold 794 492 93,1% 5
Slide 21: Consolidated assets
Data in PLN thousand 30/06/2025 Structure % 31/12/2024 Structure % Change Change % Fixed assets 229 588 21,1% 232 676 19,3% -3 088 -1,3% Tangible fixed assets 127 326 11,7% 125 791 10,4% 1 535 1,2% Right-of-use assets 55 304 5,1% 58 052 4,8% -2 748 -4,7% Goodwill 9 008 0,8% 9 008 0,7% 0 0,0% Intangi
Slide 22: Consolidated equity and liabilities
Data in PLN thousand 30/06/2025 Structure % 31/12/2024 Structure % Change Change % Equity 528 276 48,5% 528 772 43,8% -496 -0,1% Share capital 4 594 0,4% 4 594 0,4% 0 0,0% Other reserve capital 432 805 39,8% 397 030 32,9% 35 775 9,0% Share premium 54 617 5,0% 54 617 4,5% 0 0,0% Retained earnings 33
Slide 23: Consolidated cash flow statement
Data in PLN thousand 1H2025 1H2024 Change Data in PLN thousand 1H2025 1H2024 Change Cash flows from operating activity Cash flows from investing activity Sales of tangible fixed assets, intangible assets and Gross profit/loss 38 530 32 079 6 451 2 075 207 1 868 fixed assets classified as held for sa
Slide 24: TORPOL S.A. income statement
Data in PLN thousand 1H25 Structure % 1H24 Structure % Change Change in % Sales of services 822 895 100,0% 484 262 100,0% 338 633 69,9% Revenues from sales of goods and products 384 0,0% 30 0,0% 354 1180,0% Sales revenues 823 279 100,0% 484 292 100,0% 338 987 70,0% Cost of goods sold 767 330 93,2% 4
Slide 25: TORPOL S.A. assets
Data in PLN thousand 30/06/2025 Structure % 31/12/2024 Structure % Change Change % Fixed assets 229 022 21,6% 232 724 20,0% -3 702 -1,6% Tangible fixed assets 125 094 11,8% 123 430 10,6% 1 664 1,3% Right-of-use assets 54 111 5,1% 56 872 4,9% -2 761 -4,9% Goodwill 9 008 0,8% 9 008 0,8% 0 0,0% Intangi
Slide 26: TORPOL S.A. equity and liabilities
Data in PLN thousand 30/06/2025 Structure % 31/12/2024 Structure % Change Change % Equity 520 573 49,0% 519 753 44,7% 820 0,2% Share capital 4 594 0,4% 4 594 0,4% 0 0,0% Other reserve capital 422 687 39,8% 392 366 33,7% 30 321 7,7% Share premium 54 617 5,1% 54 617 4,7% 0 0,0% Retained earnings 34 13
Slide 27: TORPOL S.A. cash flow statement
Data in PLN thousand 1H2025 1H2024 Change Data in PLN thousand 1H2025 1H2024 Change Cash flows from operating activity Cash flows from investing activity Sales of tangible fixed assets, intangible assets and Gross profit/loss 40 064 29 227 10 837 2 075 207 1 868 fixed assets classified as held for s
Slide 28: Contact
Małgorzata Napierała tel. +48 61 87 82 775 fax +48 61 87 82 790 ma.napierala@torpol.pl | ri@torpol.pl ul. św. Michała 43 61-119 Poznań tel. +48 61 87 82 700 fax +48 61 87 82 790 www.torpol.pl 28 | www.torpol.pl