Quarter 1 - financial statement for 2026

ABC TRANSPORT PLC

CONSOLIDATED AND SEPARATE STATEMENT OF PROFIT OR LOSS

AND OTHER COMPREHENSIVE INCOME

FOR THE FIRST QUARTER ENDED MARCH 31, 2026

Group

Company

2026

2025

2026

2025

Continuing operations

Notes

=N=000

=N=000

=N=000

=N=000

Revenue from contract with cus

14

4,268,208

3,631,989

2,191,924

1,826,288

Direct costs

16

(3,409,856)

(2,871,975)

(1,791,743)

(1,464,533)

Gross profit

Administrative expenses

858,352

760,014

400,182

361,755

(604,244)

(475,185)

(311,589)

(256,675)

254,109

284,829

88,593

105,079

142,685

116,589

81,406

79,602

44

1,075

-

1,031

54,367

51,116

28,237

67,788

(111,137)

(101,549)

(86,257)

(99,717)

340,068

352,059

111,980

153,783

(100,384)

(128,875)

(24,368)

(59,843)

239,684

223,184

87,612

93,940

189,089

194,739

87,612

93,940

50,640

28,445

-

239,729

223,184

87,612

93,940

Total comprehensive (loss)/income f

110,276

106,760

87,612

93,940

Attributable to:

Equity shareholders

Non-controlling interests

60,930

79,479

87,612

93,940

49,346

27,281

110,276

106,760

87,612

93,940

Basic earnings per share(kobo)

10

9

3.66

3.93

Diluted earnings per share(kobo)

10

9

3.66

3.93

The accompanying notes and statement of material accounting policy information form an integral

part of these consolidated and Separate financial statements.

1

Gr

oup

GROUP

Company

Note

2026

N'000

2025

N'000

2025

N'000

2026

N'000

2025

N'000

Non-current assets

Property, plant and equipment

1

9,936,802

10,602,187

10,260,542

8,314,389

9,458,609

Intangible assets

12

25,954

18,661

22,465

17,672

15,574

Right of use assets

1a

155,361

23,252

163,741

146,136

-

Investment in subsidiaries

-

-

-

141,470

141,470

Financial assets - FVOCI

-

1,845

-

-

1,845

Financial assets - FVPL

-

19,906

-

-

19,906

Deferred tax asset

481,050

423,453

494,297

59,864

59,864

Total non-current assets

10,599,167

11,089,304

10,941,045 8,679,530 9,697,269

Current assets

Inventories

2

613,493

830,956

1,164,743

321,476

251,379

Trade and other receivables

4

676,980

545,594

435,205

897,787

567,312

Other assets

5

2,271,145

1,643,334

1,638,027

789,457

569,900

Cash and Cash equivalents

6

218,257

189,042

283,657

98,592

76,130

Current Tax asset

7,463

-

-

-

-

Total current assets

3,787,339

3,208,926

3,521,632

2,107,312

1,464,721

Total assets

14,386,505

14,298,231

14,462,677

10,786,842

11,161,990

Equity and reserves

Issued share capital

1,196,311

1,196,311

1,196,311

1,196,311

1,196,311

Share premium

434,607

434,607

434,607

434,607

434,607

Retained earnings/(accumulated losses)

647,375

(318,271)

458,287

332,654

(313,351)

Other comprehensive income reserve

(243,107)

(193,097)

(114,949)

18,188

18,188

Shareholder's fund

2,035,186

1,119,550

1,974,255

1,981,760

1,335,755

Non-controlling interests

385,767

256,338

336,421

-

-

Total equity and reserves

2,420,953

1,375,888

2,310,677

1,981,760

1,335,755

Non-current liabilities

Loans and borrowings

10a

747,165

793,042

739,185

453,131

793,042

Contract liabilities

3,852,192

5,598,235

4,332,059

3,852,192

5,598,235

Lease liability

1b

90,313

-

97,068

90,313

Provisions

9

297,447

141,573

317,761

297,447

141,573

Deferred tax liabilities

7,463

14,625

43,680

-

-

Total non-current liabilities

4,994,580

6,547,476

5,529,753

4,693,083

6,532,851

Current liabilities

Loans and borrowings

10b

755,482

979,463

901,269

755,482

918,841

Post employment benefits - defined contrib

389,862

378,170

383,938

389,862

376,224

Current tax liabilities

11

630,393

645,581

819,563

181,670

320,587

Trade and other payables

7

3,754,436

4,011,448

3,335,860

1,566,998

1,541,685

Lease liability

1b

67,641

67,641

67,641

Contract laibilities

8

1,243,158

229,200

1,113,976

1,150,348

136,048

Overdraft

130,001

131,005

-

-

-

Total current liabilities

6,970,972

6,374,866

6,622,246

4,112,000

3,293,384

Total Liabilities

11,965,552

12,922,342

12,152,000

8,805,083

9,826,235

Total equity and liabilities

14,386,505

14,298,231

14,462,677

10,786,842

11,161,990

The consolidated and Separate financial statements were approved by the Board of Directors on 29th March 2026 and signed on its behalf by:

Managing Director/CEO : FRC/2015/PRO/00000011844

Chief Financial Officer :FRC/2014/PRO/ICAN/001/0000007350

The accompanying notes and stateme t of material accounting policy information form an integral part of these consolidated and separate financial statements.

2

CONSOLIDATED AND SEPARATE STATEMENT OF CASH FLOWS

FOR THE FIRST QUARTER ENDED MARCH 31, 2026

Group Company

2026

2025 2026 2025

=N=000

=N=000 =N=000 =N=000

Net cash inflow(outflow) from operating activitie

126,942

2,815,289 282,350 2,936,926

Cash flow from investing activities:

Purchase of Property,plant and equipment

(76,326)

(2,826,362)

(55,924)

(2,815,274)

Purchase of Intangible assets

(723)

-

-

-

Sale of property, plant and equipment/Assets Held-f

3,607

40,676

3,607

40,676

Interest received

44

1,075

2,042

1,031

Net cash inflow(outflow) from investing activities

(73,397)

(2,784,611)

(50,275)

(2,773,567)

Cash flows from financing activities:

Borrowings/leases-Additions

Repayment of borrowings

Repayment of finance Lease obligations

Finance Charges

Net cash inflow(outflow) from financing activities

1,242,429

1,117,884

-

229,000

(1,380,237)

(1,190,507)

(105,879)

(278,891)

(34,839)

-

(34,839)

-

(76,298)

(101,549)

(51,418)

(99,717)

(248,944)

(174,172)

(192,136)

(149,608)

Net increase(decrease) in cash and cash equival

(195,400)

(143,494)

39,939

13,751

Cash and cash equivalents at 1 January

283,657

201,531

58,654

62,380

Cash and cash equivalents at 31/3/2026

88,257

58,037

98,592

76,131

N:B :Overdaft is considered as part of cash and cash equivalents

3

ABC TRANSPORT PLC

CONSOLIDATED STATEMENT OF CHANGES IN EQUITY

FOR THE FIRST QUARTER ENDED MARCH 31, 2026

Attributable to equity holiders- the Group

Issued

share

Share

capital

premium

=N=000

=N=000

At 1 January 2025

1,196,310.89

434,607.00

Non

controlling

interests

=N=000

229,057.67

Retained

earnings

=N=000

(513,009.89)

OCI

reserves

=N=000

(77,837.00)

Changes in equity for 2025

Profit for the year

Net exchange differences on translating

foreign operations

MARCH 31, 2025

454,020.00

138,509.00

592,529.00

(61,214.67)

(618.33)

(61,833.00)

1,196,311

434,607

(58,990)

(139,052)

366,948

1,799,825

Profit for the Period

Net exchange differences on translating foreign operations

MARCH 31, 2026

Changes in equity for 2025

Profit for the Period

189,089

50,640

239,729

(128,158)

(1,295)

(129,453)

1,196,311

434,607

647,375

(243,107)

385,767

2,420,953

OCI

reserves

=N=000

18,188

Total

=N=000

1,241,815

1,196,311

434,607

ABC TRANSPORT PLC

SEPARATE STATEMENT OF CHANGES IN EQUITY

FOR THE FIRST QUARTER ENDED MARCH 31, 2026

Attributable to equity holiders- the Compa

Issued

share

Share

Retained

capital

premium

earnings

=N=000

=N=000

=N=000

At 1 January 2025

1,196,311

434,607

(407,291)

1,196,311

434,607

(4,761)

18,188

1,644,345

As at 1 January 2026

1,196,311

434,607

245,042

18,188

1,894,148

Changes in equity for 2026

Profit for the Period

87,612

87,612

MARCH 31, 2026

1,196,311

434,607

332,654

18,188

1,981,760

The accompanying notes and statement of material accounting policy information form an integral part of these consolidated and separate financial statements.

4

ABC TRANSPORT PLC

CONSOLIDATED AND SEPARATE UNAUDITED INTERIM FINANCIAL STATEMENTS

FOR THE FIRST QUARTER ENDED MARCH 31, 2026

NOTES TO THE ACCOUNTS

PROPERTY,PLANT AND EQUIPMENT

GROUP

MOTOR VEHICLE

EQUIP, FURN

& & FITTINGS

COMPUTERS

LAND

BUILDINGS

WIP

TOTAL

COST

=N=000

=N=000

=N=000

=N=000

=N=000

=N=000

=N=000

Balance 01/01/2026

13,933,806

792,394

142,227

392,628

1,590,506

880,488

17,732,048

Additions

24,732

30,225

2,105

7,816

-

7,926

72,804

Disposals

(4,195)

-

-

-

-

-

(4,195)

Balance 31/3/2026

13,954,343

822,619

144,332

400,444

1,590,506

888,413

17,800,657

Accumulated depreciation

Balance 01/01/2026

5,714,875

585,134

102,575

-

1,068,923

-

7,471,507

Charge

362,848

16,831

2,552

-

14,313

396,543

Elimination on disposals

(4,195)

-

(4,195)

Balance 31/3/2026

6,073,528

601,965

105,127

-

1,083,236

-

7,863,855

AT 31/3/2025

8,666,598

183,042

28,294

322,887

549,701

851,664

10,602,187

AT 31/3/2026

7,880,815

220,654

39,205

400,444

507,270

888,413

9,936,802

5

MOTOR VEHI

EQUIP, FURN

COMPUTERS

LAND

BUILDINGS

WIP

TOTAL

& FITTINGS

COST

=N=000

=N=000

=N=000

=N=000

=N=000

=N=000

=N=000

Balance 01/01/2026

13,120,242

636,362

120,261

272,627

1,573,897

11,965

15,735,355

Additions

23,624

16,258

1,555

7,816

-

6,671

55,924

Elimination on disposals

(4,195)

-

-

-

-

-

(4,195)

Balance 31/3/2026

13,139,671

652,620

121,816

280,443

1,573,897

18,636

15,787,084

Accumulated depreciation

Balance 01/01/2026

5,451,082

478,684

98,302

-

1,067,887

-

7,095,954

Charge

351,412

13,049

2,142

-

14,313

-

380,916

Elimination on disposals

(4,195)

-

(4,195)

Balance 31/3/2026

5,798,299

491,733

100,444

-

1,082,200

-

7,472,675

0

AT 31/3/2025

8,568,132

136,639

17,232

202,887

533,093

626

9,458,609

AT 31/3/2026

7,341,373

160,887

21,373

280,443

491,698

18,636

8,314,409

INTANGIBLES

Balance 01/01/2026

Additions

Depreciation charge

Balance 31/3/2026

COMPANY

GROUP

N'000

N'000

21,801.32

23,635

-

723.00

(4,129.59)

(6,022.59)

17,671.74

18,335.73

Depreciation charge

2026

N'000

2025

N'000

Computed depreciation charge

380,916

250,887

Transfer to related parties

(37,168)

(34,941)

Total PPE depreciation charge

343,748

215,946

Depreciation and amortization have been allocated as follows:

2026

2025

Note

Admin

Direct

Total

Direct

Admin

Total

Depreciation charge on

1

24,062

319,686

343,748

1,512

214,434

215,946

Right of use amortizatio

1a

639

8,496

9,135

-

-

-

Intangible assets amorti

1

289

3,841

4,130

240

3,187

3,427

24,991

332,022

357,013

1,752

217,621

219,373

6

ABC TRANSPORT PLC

CONSOLIDATED AND SEPARATE UNAUDITED INTERIM FINANCIAL STATEMENTS

FOR THE FIRST QUARTER ENDED MARCH 31, 2026

NOTES TO THE ACCOUNTS

Office

Motor

Office

Motor

Building

Vehicle

Building

Vehicle

Group

Group

TOTAL

Company

Company

TOTAL

N'000

N'000

N'000

N'000

N'000

N'000

1a

Right-of-Use Asset

Cost

At 1 January 2025

Addition

At 31 March 2026

-

-

-

- - - -

-

-

- - - -

-

-

At 1 January 2026

90,168

182,667

272,835

-

182,667

182,667

Addition

2,799

-

2,799

-

-

-

At 31 MARCH 2026

92,967

182,667

275,634

-

182,667

182,667

Accumulated depreciation

At 1 January 2025

-

-

-

Charge

-

-

-

At 31 march 2025

-

-

-

-

-

-

At 1 January 2026

(81,697)

(27,396)

(109,093)

-

(27,396)

(27,396)

Charge

(2,044)

(9,135)

(11,179)

-

(9,135)

(9,135)

At 31 March 2026

(83,741)

(36,531)

(120,272)

-

(36,531)

(36,531)

Carrying amount:

At 31 March 2026

At 31 March 2025

9,226

146,135

155,361

-

146,135

146,135

15,896

-

15,896

-

-

-

1b

Lease liability

Group

Company

2026

2025

2026

2025

N'000

N'000

N'000

N'000

At 1 January

Addition

182,637

-

182,637

-

Payment

(34,839)

-

(34,839)

-

Interest on lease laibility

10,155

-

10,155

-

At 31 March 2026

157,954

-

157,954

-

15.2

Lease liability ( Current & Non current)

2026

2025

N'000

N'000

2026

2025

N'000

N'000

Lease liability-Current Por

67,641

-

67,641

-

Lease liability-None Curre

90,313

-

90,313

-

Total Lease Liability

157,954

-

-

157,954

-

ABC TRANSPORT PLC

CONSOLIDATED AND SEPARATE UNAUDITED INTERIM FINANCIAL STATEMENTS

FOR THE FIRST QUARTER ENDED MARCH 31, 2026

NOTES TO THE ACCOUNTS

GROUP

COMPANY

INVENTORY

2026

2025

2026

2025

=N=000

=N=000

=N=000

=N=000

Motor vehicle spares

262,511

199,284

262,511

199,284

Fuel and diesel

4,124

4,631

4,124

4,631

Stationeries and printed materials

18,952

18,661

18,952

18,661

Oil and lubricants

30,770

24,602

30,770

24,602

Uniform and promotional materials

691

467

691

467

Sanitation materials

240

159

240

159

City Transit Inn (CTI)

4,188

3,574

4,188

3,574

Transit Support Services (TSS)

292,017

579,577

613,493

830,956

321,476

251,379

3

NON CURRENT ASSETS HELD FOR SALE

Motor Vehicle

4

TRADE AND OTHER RECEIVABLES

Accounts Receivable

472,142

362,452

279,781

141,509

Staff Debts

162,149

141,947

92,334

93,998

ABC Ghana Ltd

-

-

136,020

112,777

Other Receivables

5,175

1,140

-

-

Other Debtors

37,514

35,816

18,115

16,249

Transit Support Services Ltd

-

-

371,536.3

202,779

Current Account

-

4,239.00

-

-

676,980

545,594

897,787

567,312

5

OTHER CURRENT ASSETS

Prepaid Rent

217,022

149,749

103,151

45,371

Prepaid Insurance

67,170

90,343

61,244

83,383

Withholding Tax Recoverable

545,834

498,109

484,802

441,146

Deposit with suppliers

1,428,984

903,385

140,260

-

Others

12,136

1,748

-

2,271,145

1,643,334

789,457

569,899

6

CASH AND CASH EQUIVALENTS

Cash in hand

44,642

58,025

24,622

11,012

Cash at Bank

173,615

131,018

73,970

65,118

Overdraft

(130,001)

(131,005)

0

88,256

58,037

98,592

76,130

ABC TRANSPORT PLC

CONSOLIDATED AND SEPARATE UNAUDITED INTERIM FINANCIAL STATEMENTS

FOR THE FIRST QUARTER ENDED MARCH 31, 2026

NOTES TO THE ACCOUNTS

7

TRADE AND OTHER PAYABLES

Trade payables

Rapido Venture

Accrual Expenses

Industrial Training Fund Levy

Unclaimed dividends

Co-operative liabilities

Other payables

Staff welfare liabilities

Accrued Salaries

Abc Cargo Express

Bus Franchise Security Deposit.

Director's Current Account-Frank Nneji

GROUP

COMPANY

2026

2025

2026

2025

=N=000

=N=000

=N=000

=N=000

1,298,166

1,621,145

143,769

66,454

2,820

26,858

2,820

26,858

125,248

159,855

48,871

135,610

9,787

7,327

8,160

6,191

34,192

46,102

34,192

46,102

41,704

26,911

41,704

26,911

2,050,761

1,323,133

452,571

349,696

674

174

674

174

25,980

83,621

25,980

83,621

-

-

794,496

308,229

482

9,518

1,020

920

163,789

254,538

12,740

38,651

3,753,605

3,559,181

1,566,997.91

1,089,417.31

Group

Company

2026

2025

2026

2025

N'000

N'000

N'000

N'000

92,601

93,152

-

68,020

16,493

68,020

16,493

97,798

119,555

97,798

119,555

4,836,721

6,050,502

4,836,721

6,050,503

209

209

5,095,349 6,279,911

5,002,539

6,186,550

Group

Company

2026

2025

2026

2025

N'000

N'000

N'000

N'000

3,852,192

5,598,235

3,852,192

5,598,235

1,243,158

681,676

1,150,348

588,315

5,095,349 6,279,911 5,002,539

6,186,550

Group Company

2026

2025

2026

2025

N'000

N'000

N'000

N'000

60,242

45,854

60,242

45,854

237,205

95,719

237,205

95,719

297,447

141,573

297,447

141,573

Group Company

2026

2025

2026

2025

N'000

N'000

N'000

N'000

370,368

113,270

76,333

113,270

241,110

424,489

241,110

424,489

135,688

255,283

135,688

255,283

747,165

793,042

453,131

793,042

ABC TRANSPORT PLC

CONSOLIDATED AND SEPARATE UNAUDITED INTERIM FINANCIAL STATEMENTS

FOR THE FIRST QUARTER ENDED MARCH 31, 2026

NOTES TO THE ACCOUNTS

GROUP

COMPANY

2026

2025

2026

2025

CURRENT BORROWINGS

=N=000

=N=000

=N=000

=N=000

BORROWINGS

Access Bank

268,180

322,219

268,180

322,219

Lafarge Truck Financing Scheme

253,991

416,620

253,991

416,620

16.5% Bond

233,311

180,002

233,311

180,002

Bank of Industry-Tss

-

60,622

-

755,482

979,463

755,482

918,841

TAXATION

B/FWD

581,675

707,737

208,968

265,243

Adjustment

8,921

-

8,921

Income Tax Provision for the year

91,463

128,875

15,447

59,843

Adj Provision for the Period

682,059

836,612

233,336

325,086

paid in the Period

(51,666)

(191,031)

(51,666)

(4,499)

C/FWD

630,393

645,581

181,670

320,587

TAXATION

Current tax assets -ABC GHANA

-

5,801

-

-

12

INTANGIBLE ASSETS

25,954

18,661

17,672

15,574

13

POST EMPLOYMENT BENEFITS

DEFINED BENEFIT OBLIGATION SC

831

1,946

-

-

DEFINED CONTRIBUTION SCHEMES

-

376,224

-

376,224

831

378,170

-

93,039

10

ABC TRANSPORT PLC

CONSOLIDATED AND SEPARATE UNAUDITED INTERIM FINANCIAL STATEMENTS

FOR THE FIRST QUARTER ENDED MARCH 31, 2026

NOTES TO THE ACCOUNTS

GROUP

COMPANY

2026

2025

2026

2025

REVENUE

=N=000

=N=000

=N=000

=N=000

Transport earnings

701,149

774,151

700,417

739,142

Haulage operations

1,361,524

995,777

1,361,524

995,777

Loads and waybill

1,257,420

1,101,677

7,878

6,366

Hospitality

122,106

85,003

122,106

85,003

Sale of vehicle spares and speed go

826,010

675,381

4,268,208

3,631,989

2,191,924

1,826,288

15

OTHER OPERATING INCOME

Insurance indemnity

2,050

-

-

-

Operating rental income

5,913

3656

13,776

11,662

Income from adverts

-

482

-

482

Sale of scrap/other assets

4,903

-

4,903.28

-

Demurrage on waybills

39

-

-

-

Franchise income

108,776

97210

42,249

52,332

Training income

20,459

15113

20,459

15,113

utility fee

545

14

19

14

142,685

116,589

81,406

79,602

GROUP

COMPANY

2026

2025

2026

2025

=N=000

=N=000

=N=000

=N=000

394,224

306,751

188,223

136,918

1,237

3,688

651

374

81,754

75,867

54,349

51,754

6,627

6,571

6,627

3,995

44,260

40,517

44,260

40,517

5,509

3,925

5,509

3,925

381,806

274,037

332,022

233,337

394,574

313,870

255,994

189,872

1,682

4,983

1,682

1,414

15,415

4,407

6,280

3,828

72,851

68,073

47,605

42,348

1,012,189

985,169

672,699

621,244

81,158

63,424

65,397

59,266

36,930

25,584

20,484

8,715

49,141

42,805

31,610

27,512

62,656

36,265

33,525

20,652

0

2,205

-

2,107

3,752

1,446

1,367

666

22,417

10,229

-

-

138,846

87,582

23,459

16,090

648,237

514,579

3,455,266

2,871,975

1,791,743

1,464,533

11

17 ADMINISTRATIVE EXPENS

2026

=N=000

2025

=N=000

2026

=N=000

2025

=N=000

Salaries and allowances

49,402

36,830

28,125

20,459

Pension

9,920

12,484

9,920

8,605

Inconvenience allowance

3,307

5,587

3,029

2,482

Outstation Expenses

6,076

4,621

6,076

4,140

Meal subsidy

4,587

2,585

4,383

2,395

Bonuses

6,001

22,651

5,570

7,622

Staff training and developmen

1,536

12,268

1,536

9,190

NSITF- employer's contributio

1,058

1,066

962

620

Medical expenses

12,326

7,709

5,380

4,146

Depreciation and amortisation

31,939

22,169

24,991

17,563

Motor vehicle repairs and mai

15,789

5,075

7,368

3,660

Repairs and maintenance buil

554

791

297

250

Repairs and maintenance othe

1,759

570

473

288

Computer repairs and mainten

6,631

5,584

6,612

3,316

Local and Foreign transport ex

30,522

40,312

12,040

14,266

Fuel expenses

13,506

9,283

11,103

7,274

Insurance expenses

43,891

39,147

41,811

37,891

Compensation

6,501

5,974

2,221

3,032

Accident expenses

579

51

579

51

Rent expenses

11,804

5,585

3,615

1,538

Water rate

912

754

17

497

Other taxes and levies

71

2,425

21

812

Licensing/registration

35,595

26,084

29,595

18,864

Director's emolument

14,743

12,887

11,143

9,287

Director's fees

375

3,875

-

3,500

Advertisement and publicity

7,896

5,584

3,864

3,242

Public relation

1,775

722

1,355

461

Donations

1,534

3,220

1,332

2,326

Subscription and dues

14,600

12,119

8,725

10,052

Electricity and lighting

38,197

28,516

21,257

16,992

Bank charges and commissio

23,110

17,969

4,864

2,963

Audit fees

5,297

3,171

1,588

1,546

Legal and professional charge

17,033

875

15,958

145

Printing and stationeries

8,752

18,849

5,087

6,324

Hotel expenses

3,396

6,403

939

6,052

Security expenses

31,229

17,608

9,862

4,358

Cleaning and sanitation

7,020

8,438

2,617

3,660

Telephone and postages

12,921

5,423

6,486

5,244

Newspaper expenses

48

11,304

44

41

Exchange loss

2,283

-

-

-

Entertainment expenses

4,449

2,350

2,023

1,416

AGM expenses

1,376

1,250

1,376

1,250

Office expenses

4,600

3,758

4,433

3,686

General expenses

6,695

12,044

2,911

5,172

OTHER ALLOWANCES

49,372

2,576

-

-

ABC TRANSPORT PLC

CONSOLIDATED AND SEPARATE UNAUDITED INTERIM FINANCIAL STATEMENTS

FOR THE FIRST QUARTER ENDED MARCH 31, 2026

NOTES TO THE ACCOUNTS

GROUP

COMPANY

2026

2025

2026

2025

INTEREST/OTHER INCOME

=N=000

=N=000

=N=000

=N=000

bank interest

-

0

-

0

investment income

44

1,075

-

1,031

BANK INTEREST

44

3,140

-

3,096

19

OTHER GAINS AND LOSSES

GROUP

COMPANY

Profit on disposal of PPE

3,607

40,676

3,607

40,676

exchange gains etc)

36,341

(11,165)

-

-

Others(Miscellaneous income)

14,419

21,605

24,630

27,112

-

54,367

51,116

28,237

67,788

20

FINANCE COST

FINANCE LEASE CHARGES

GROUP

COMPANY

2,026

2,025

2,026

2,025

=N=000

=N=000

=N=000

=N=000

111,137

101,549

86,257

99,717

111,137

101,549

86,257

99,717

21

CASH FLOW FROM OPERATING ACTIVITIES

GROUP

COMPANY

Profit before Tax

239,684

352,059

111,980

153,783

Adjustment for:

-

-

Depreciation and amortisation

413,745

292,737

357,013

219,373

Fair value gain on Financial assets -FVTPL

(1,075)

-

(1,031)

Interest expense

111,137

101,549

86,257

99,717

Profit on disposal of property, plant and equipmen

(3,607)

(40,676)

(3,607)

(40,676)

OPERATING PROFIT/(LOSS) BEFORE

CHANGES IN OPEARTING ASSETS

760,959

704,594

551,642

431,166

Changes in working capital

decrease in Inventories

551,250

229,759

111,827

53,034

Decrease /Increase in Trade and other receivables

(241,775)

209,393

(155,295)

98,386

increase in Other Current assets

(640,581)

(494,734)

24,189

(72,473)

Increase in Trade and other payables

(251,245)

2,357,309

(250,014)

2,431,311

Cash generated from operating activities

178,608

3,006,320

282,350

2,941,425

Tax paid through cash

(51,666)

(191,031)

-

(4,499)

Net cash from operating activities

126,942

2,815,289

282,350

2,936,926

13

ABC TRANSPORT PLC

CONSOLIDATED SEGMENT PERFORMANCE STATEMENT

FOR THE FIRST QUARTER ENDED MARCH 31, 2026

2026

COACH

SPRINTER

SHUTTLE

CARGO

HAULAGE

Income

N'000

N'000

N'000

N'000

N'000

HOSPITALITY

(CTI)

TRADING(TRUC

K/SPARE

OTHERS

TOTAL

N'000

N'000

N'000

N'000

Gross Segment Revenue

116,914

442,900

154,947

1,243,740

1,361,524

122,106

826,010

0

4,268,140

Intersegment Revenue

19,684

56,703

2,964

0

79,350

Total Revenue

Other Income

136,598

499,604

157,910

1,243,740

1,361,524

122,106

826,010

0

4,347,491

28,262

13,987

68,075

-

-

41,207

67,375

218,907

136,598

527,866

171,897

1,311,815

1,361,524

122,106

867,217

67,375

4,566,398

TOTAL EXPENSES

183,791

536,092

182,957

1,261,168

1,247,937

94,466

714,780

5,138

4,226,329

PROFIT/(LOSS) BEFORE TAXATIO

(47,193)

(8,227)

(11,060)

50,647

113,586

27,640

152,437

62,237

340,068

LESS: DIRECT COSTS

Material

Wages & Salaries

Depreciation-Direct

Depreciation-Apportioned

Finance Lease Charges

Operating Lease Charges

Intersegment Expenses

Other direct overheads

57,575

198,111

62,470

571,293

433,834

22,522

648,237

-

1,994,042

14,862

38,304

26,008

206,000

41,736

9,450

14,106

-

350,467

17,671

45,944

2,827

-

272,128

7,245

5,596

351,411

393

2,220

990

-

563

-

-

-

4,166

901

45,070

1,194

23,467

38,152

941

1,413

-

111,137

-

-

-

46,257

-

-

-

-

46,257

-

-

-

79,350

-

-

-

-

79,350

55,522

111,793

30,479

112,323

350,107

27,532

7,864

0

695,620

146,923

441,441

123,969

1,038,691

1,136,521

67,690

677,216

0

3,632,451

(10,325)

86,424

47,929

273,124

225,003

54,416

190,000

67,375

933,947

GROSS PROFIT/(LOSS)

LESS: APPORTIONED COSTS

Workshop charge

General Administration

7,018

16,844

11,229

0

2,888

-

-

-

37,980

29,849

77,807

47,759

222,477

108,528

26,776

37,563

5,138

555,899

36,868

94,651

58,989

222,477

111,416

26,776

37,563

5,138

593,879

ABC TRANSPORT PLC

CONSOLIDATED SEGMENT PERFORMANCE STATEMENT

FOR THE FIRST QUARTER ENDED MARCH 31, 2025

2025

COACH

SPRINTER

SHUTTLE

CARGO

HAULAGE

Income

N'000

N'000

N'000

N'000

N'000

HOSPITALITY

(CTI)

TRADING(TRUC

OTHERS

TOTAL

N'000

N'000

N'000

N'000

Gross Segment Revenue

222,543

471,204

112,628

1,074,048

995,777

85,003

675,382

-

3,636,584

Intersegment Revenue

21,363

20,144

3,163

-

-

-

0

-

44,670

Total Revenue

Other Income

243,906

491,348

115,791

1,074,048

995,777

85,003

675,382

-

3,681,255

0

23,742

28,590

44,955

-

-

(2,648)

92,325

186,964

243,906

515,090

144,381

1,119,003

995,777

85,003

672,734

92,325

3,868,219

TOTAL EXPENSES

194,102

435,787

143,527

1,048,847

1,021,633

78,984

586,949

6,321

3,516,149

PROFIT/(LOSS) BEFORE TAXATIO

49,804

79,303

854

70,156

(25,856)

6,019

85,785

86,004

352,069

LESS: DIRECT COSTS

Material

Wages & Salaries

Depreciation-Direct

Depreciation-Apportioned

Finance Lease Charges

Operating Lease Charges

Intersegment Expenses

Other direct overheads

78,386

188,860

51,678

570,106

382,220

24,959

514,579

-

1,810,788

11,635

34,431

15,756

169,833

27,222

7,300

13,053

-

279,231

12,843

31,301

1,987

0

176,376

5,093

4,488

-

232,087

1,104

6,240

2,784

0

1,584

-

-

-

11,713

3,101

5,159

1,569

0

88,703

1,184

1,832

-

101,549

-

-

-

31,330

-

-

-

-

31,330

-

-

-

44,670

-

-

-

-

44,670

49,895

105,920

22,217

66,755

251,261

17,622

26,637

4,149

544,456

156,965

371,911

95,992

882,694

927,366

56,159

560,589

4,149

3,055,824

86,941

143,179

48,389

236,309

68,411

28,844

112,145

112,145

836,363

GROSS PROFIT/(LOSS)

LESS: APPORTIONED COSTS

Workshop charge

General Administration

5,331

9,170

6,824

-

1,755

-

-

-

23,080

31,806

54,706

40,711

166,153

92,512

22,825

26,360

2,172

437,245

37,137

63,876

47,535

166,153

94,268

22,825

26,360

2,172

460,325

ABC TRANSPORT PLC

NOTES TO THE CONSOLIDATED AND SEPARATE FINANCIAL STATEMENTS

FOR THE FIRST QUARTER ENDED MARCH 31, 2026

General information

ABC Transport Plc was incorporated in April 1993.The Company's business is road passenger transportation between major cities in the south,north central and Abuja.

In July 2004, the Company commenced road passenger transportation on the west coast between Lagos Nigeria and Accra Ghana.ABC Transport Ghana in which ABC Transport Plc owns a 99% equity stake was incorporated in 2007 to provide transport services within Ghana and to offer passenger and cargo handling service to ABC Transport Plc.

ABC Transport Plc is also involved Haulage Services and Hospitality business at its City Transit Inn (CTI), Abuja. In January1, 2023, the Cargo Segment of the company transformed into subsidiary with the company owning a 99% equity state

ABC Transport Plc which became public company in 2005 equally owns 50% equity stake in Transit Support Services Ltd, a trading company engaged in the importation, sales of vehicles spares and installation of motor vehicle speed governing devices and assembly of heavy duty trucks and a 5% stake in ABC Express Courier (ABEX) ltd.

Going Concern

The Group's management has made assessment of the Group's ability to continue as a going concern and is satisfied that the Group has the resources to continue in business for the foreseeable future.Furthermore,management is not aware of any material uncertainties that may cast doubt upon the Group's ability to continue as a going concern.Therefore, the financial statements are prepared on going concern basis.

Basis of preparation of firs t quarter account

This consolidated financial statement for first quarter months ended march, 2026 has been prepared in accordance with the International Financial Reporting Standard (IFRS) set by International Accounting Standard Board(IASB) and specifically in compliance with Interim Financial Reporting (IAS 34). The financial report should be read in conjuction with the Group's audited financial statements for 2025 which presents the company's IFRS policies.

The financial statements are prepared on the historical cost basis of accounting.The financial statements are presented in Naira, which is the functional currency of the economic environment in which the entity operates and are presented in thousands of Naira.

16

New standards, ammendments, interpretations issued but not yet effective

The following new pronouncements, considered relevant to the Company, are not yet effective as at as Ist January,2026 and have not been early adopted by the Company. The Company's assessment of the impact of these new standards, interpretations or amendments is set out below.

Presentation and Disclosure in Financial Statements - IFRS 18

This new standard deals with the presentation and disclosure of information in general-purpose financial statements; new requirements:

• specified totals or subtotals within the statement of profit or loss.

• disclosure of management-defined performance measures; over the coverage period.

• aggregation and disaggregation of financial information based on the identified 'roles' of the primary financial statements and the notes; and

• consequential amendments to other accounting standards.

The effective date is 1 January 2027.

IFRS S1 General Requirements for Disclosure of Sustainability-related Financial Information

This new standard requires entities to disclose information about sustainability-related risks and opportunities that are useful to users relating to providing resources to the entity.

• ◻Entities are required to disclose information about sustainability-related risks and opportunities reasonably expected to affect their prospects.

• ◻Prescribes how the entity prepares and reports its sustainability-related disclosures, setting out general requirements for content and presentation thereof.

• ◻To provide an understanding of the entity's governance processes & controls, strategy to manage, identification processes & controls and performance in relation to the sustainability-related risks and opportunities and targets set.

The mandatory adoption date is 1 January 2028.

The amendments are effective for annual reporting periods beginning on or after 1 January 2028, with earlier application permitted.The amendment will be appropriate applied when the circumstances to demand

3

Summary of s ignificant accounting policies

The significant accounting policies set out below have been applied consistently to all years presented in these consolidated financial statements unless otherwise indicated.

4

Contingent liabilities/Litigation settlements

There were no additions to contingent liabilities within the period. Though a few cases came up within the period, the

company does not expect material liabilities to arise thereupon,

There were no litigation settlemets within the period under review.However,the company is in talks for court setlement in some ongoing cases.

Related party transactions

The Group has business relationship with Rapido Ventures Ltd,Abex Express,Mayfair and Transit Support services

Mayfair Hotels and Suites

The wife of ABC's Transport plc founder is the managing director of Mayfair Hotels

Included in"Trade and other Payables" is N1.5m due to Mayfair as at 31/3/2026

18

Transit Supports Services Ltd.

ABC Transport Plc owns 50% equity in Transit Support services Ltd.During the period under review,invoices from Transit Support Services to ABC Transport Plc was N92.4m while the total amount of invoices from ABC Transport Plc to Transit Support Services was zero.Included in"Trade and other Receavable"is N371.536m due to Transit support services as at 31/3/2026

Events occuring after the reporting period

There have not been significant events after the interim period that could alter the current position

7

Debt and equity securities,loan repayments and financing arrangements

There were no issuances or repurchases of debt securities within the period.

Borrowings

GROUP

COMPANY

N'000

N'000

Opening balance (1/1/2026)

1,640,454

1,314,492

New borrowings

1,242,429

0

Repayments

(1,380,237)

(105,879)

Closing balance (31/1/2026)

1,502,647

1,208,613

Current portion

755,482

755,482

Non-current portion

747,165

453,131

Total

1,502,647

1,208,613

8

Dividends

No dividend was declared based on the performance for the period.

9

Financial instruments

An unclaimed dividend pool of N14,653,65373 was transferred in Aug'12 from the custody of Stanbic IBTC Asset Management Ltd for investment to the benefit of the company in line with the provisions of the Investment and Securities Act 2007. The sum of N15.9m unclaim dividend has be refunded. Unclaimed dividend fund stands at N34.19m as reported under note 7 (Trade and other payables)

19

10

Restructurings

There were no restructuring or reversals relating to same within the period under review

11

Changes in estimates /Prior year adjustments

There were no material prior year adjustments due to either errors or misstatements

12

.Impairments /Write-down of inventory to NRV

No impairments were recognized on property, plant and equipment .

There were no write-downs of inventory to net realizable value.

13

Risks and Uncertainties

The group's principal risk and uncertainty exposures are as enunciated in the 2025 audited financial statement

14

Key events within the interim period

No event or transaction has occurred since the reporting date, which would have had material effect on the financial

statements as at that date or which needs to be mentioned in the financial statements in the interest of fair presentation of the Company's financial position as at the reporting date or its results for the year that ended.

15

Earnings Per Share

The earnings and weighted average number of ordinary shares used in the report

Group

2026

2025

=N=000

=N=000

Profit attributable to equity Shareholders

189,089

194,739

Weighted number of ordinary shares for the purpose of basic earning per share

2,392,622

2,392,622

Weighted number of ordinary shares for the purpose of dilluted earning per share

2,392,622

2,392,622

Company

2026

2025

=N=000

=N=000

Profit attributable to equity Shareholders

87,612

93,940

Weighted number of ordinary shares for the purpose of basic earning per share

2,392,622

2,392,622

20

16

Compliance with Rule on Securities Trading

In compliance with Rule 17.15 Disclosure of dealings in issuers' shares, Rulebook of Exchange 2015(Issuers' Rule) ABC Transport Plc maintains a security Trading Policy which guides Directors, Audit Committee members, employees and individuals categorised as insiders as to their dealing in the company shares. the Policy undergoes periodic reviews by the Board and its updated accordingly. the company has made specific inquires of all its Directors and other insiders and the ompany is not aware of any infringement on this policy during the period.

21