Individual financial statements on 31.12.2025 (Item 2 on the agenda)

(unless specified otherwise, all amounts are stated in thousand lei)

2025 2024

(unless specified otherwise, all amounts are stated in thousand lei)

(unless specified otherwise, all amounts are stated in thousand lei)

payments for the acquisition of property, plant and equipment and intangible assets

(13.457) (26.952)

cash and cash equivalents

11 313.352 260.403

Chief Executive Officer, Financial Director,

Filip Alexandru Damaschin Doru

Comprehensive income

Share Reserves capital

of financial assets through other comprehensive income

Deferred income tax recognised in equity

Retained earnings

Profit for Total equity the period

A. Balance as at 1 January 2025 48.729 459.571 8.110 (27.445) 54.374 76.994* 620.334

Profit for the period 98.037 98.037

Other comprehensive income

Deferred income tax recognised in equity (7.134) 258 (6.876)

Appropriation of profit for the financial year 2024 to the destinations approved by shareholders at the AGOA on 24 April 2025 (Note 12)

Appropriation of 2025 profit to reserves from tax incentives, in gross amounts

Gain transferred to retained earnings on sale of equity instruments through other comprehensive income

76.994 (76.994) -

9.735 (9.735) -

(1.213) 1.074 (139)

Fair value revaluation of equity instruments through other comprehensive income

Transfer to reserves of retained earnings representing surplus from revaluation reserves

35.396 35.396

316 (316) -

* The result as at 31.12.2024, amounting to 95.725 thousand lei, is affected by the appropriation of profit to other reserves from tax incentives in the amount of 18.731 thousand lei;

** The result as at 31.12.2025, amounting to 98.037 thousand lei, is affected by the appropriation of profit to other reserves from tax incentives in the amount of 9.735 thousand lei;

Chief Executive Officer, Financial Director,

Alexandru Filip Doru Damaschin

Comprehensive income

Share Reserves capital

of financial assets through other comprehensive income

Deferred income tax recognised in equity

Retained earnings

Profit for Total equity the period

A. Balance as at 1 January 2024 48.729 407.359 2.669 (23.481) 51.577 65.104* 551.957

Profit for the period 95.725 95.725

Other comprehensive income

Deferred income tax recognised in equity (3.964) 225 (3.739)

Appropriation of profit for the financial year 2023 to the destinations approved by shareholders at the AGOA on 18 April 2024 (Note 12)

Appropriation of 2024 profit to reserves from tax incentives, in gross amounts

Gain transferred to retained earnings on sale of equity instruments through other comprehensive income

Fair value revaluation of equity instruments through other comprehensive income

Transfer to reserves of retained earnings representing surplus from revaluation reserves

65.104 (65.104) -

18.731 (18.731) -

Chief Executive Officer, Financial Director,

Alexandru Filip Doru Damaschin

AEROSTAR was established in 1953 and operates in accordance with the Romanian law. AEROSTAR S.A. conducts its activity at its registered head office located in Bacau, 9 Condorilor Street, code 600302. In accordance with the Resolution no. 2/14.12.2017 of the Board of Directors, the opening of a secondary place of business without legal personality (branch) located in Iasi, on 25B Aeroportului Street was approved. Moreover, in accordance with the Decision of the Board of Directors nr.1/02.06.2023 the opening of a secondary office without legal personality (branch) located in Fetești, 2 Carpați Street, ap. 7 was approved.

The main field of activity of AEROSTAR is production.

The main object of activity of the company is "Manufacture of civil aircraft and spacecraft" - code 3031.

The company was registered as a shareholding company at the Bacău Trade Register (under number J1991001137040), with the current name "AEROSTAR S.A." and the unique identification code 950531, the European Unique Identifier (EUID) code ROONRC.J1991001137040.

The company is listed on the Bucharest Stock Exchange under the ARS code, and the record of its shares and shareholders is kept, as provided by law, by S.C. Depozitarul Central S.A. Bucharest.

During the year 2025, there was no subscription of new shares, nor any participation certificates, convertible bonds, warranties, options, or similar rights. In December 2025, Aerostar S.A. entered into an equity interest transfer agreement and acquired 392 shares of FOAR S.R.L. from GKN Fokker Aerospace B.V., for a consideration of 207 thousand lei. As a result, as at 31 December 2025, the Company increased its ownership interest in FOAR S.R.L. to 100%.

In terms of accounting regulations, AEROSTAR S.A. is a subsidiary of IAROM S.A. and, therefore, the parent company that consolidates the financial statements of the Group is IAROM S.A., with the unique identification code 1555301. The consolidated financial statements for the financial year 2024 were submitted to the National Agency for Fiscal Administration (A.N.A.F.) under registration number 962157978/26.08.2025. The parent company will prepare and publish a set of consolidated financial statements in accordance with the applicable accounting regulations for the financial year ended 31 December 2025.

The Company has a single operating segment in accordance with IFRS 8, as the activities carried out by Aerostar S.A. are not separately structured into operating components with distinct financial information, but function as an integrated system in which resources are allocated based on an integrated medium- and long-term vision, and the nature of the products and services offered presents similar economic characteristics. The Company operates across three main business lines, structured to meet specific market requirements, with a view to maximising sales.

Information regarding sales by business lines and markets is presented in detail in the Directors' Report.

The Company's policy is focused on maintaining a solid capital base in order to support the Company's continuous development and the achievement of its strategic objectives.

The Company will continue to act decisively to ensure the sustainability of its investments and the preservation of its production capabilities. Furthermore, drawing on the experience accumulated within its workforce, the Company seeks to identify the most appropriate solutions to new economic challenges.

The most significant accounting policies are presented below:

• Accounting Policies for Property, Plant and Equipment

  The Company has chosen the cost model as its accounting policy. After recognition as an asset, property, plant and equipment are measured at cost less accumulated depreciation and any accumulated impairment losses.

  The depreciable amount is allocated systematically over the asset's useful life and represents the cost of the asset less its residual value.

  Considering the nature of the Company's operations and the types of property, plant and equipment held, the residual values of such assets are considered immaterial. Practically, the residual value is calculated based on the estimated recoverable value of scrap metal, after deducting dismantling, disassembly and selling costs.

  Depreciation methods and useful lives are reviewed at least at the end of each financial year and adjusted accordingly. Useful lives are determined by committees composed of the Company's specialists. Any changes are accounted for prospectively.

  Subsequent expenditure on property, plant and equipment is added to the carrying amount of the asset when it:

  • enhances the asset's original technical parameters;

  • generates future economic benefits in the form of additional cash flows compared with those initially estimated; and

  • can be measured reliably.

    The realisation of benefits occurs directly through increased revenues and indirectly through reduced maintenance and operating expenses.

    All other repair and maintenance costs incurred to ensure the continuous use of assets are recognised in the profit or loss when incurred. These costs are aimed at maintaining the asset's original technical parameters.

    Spare parts are generally accounted for as inventory and recognised as an expense when consumed. Where spare parts and service equipment are significant in value and can only be used in connection with a specific item of property, plant and equipment, they are capitalised as part of the related asset, provided that the initial acquisition cost (at commissioning) of the replaced part can be determined.

    To decide whether separate component recognition is appropriate, each case is analysed individually, using professional judgement.

    Property, plant and equipment under construction, intended for use in production or administrative activities, are presented in the statement of financial position at cost less any accumulated impairment losses. Such assets are classified within the respective categories of property, plant and equipment when completed and ready for use in the manner intended by management, for the purpose for which they were acquired.

    NOTE 3 - ACCOUNTING POLICIES AND MEASUREMENT BASES (continued)

    The Company's management has established a capitalisation threshold for assets of 2.500 lei. All acquisitions below this amount are recognised as an expense in the period.

    Exceptions: Computers are treated as depreciable property, plant and equipment regardless of their acquisition cost and are depreciated over the useful life determined by the reception committee.

    Tools and work equipment are accounted for as inventory and recognised as an expense when consumed, irrespective of their acquisition cost, considering that they generally have a useful life of less than one year and their degree of specialisation (intended for use in a specific product or service).

    For internally generated intangible assets, the research and development phases are clearly distinguished:

    • Research phase: Research costs are recognised as an expense in the period;

    • Development phase: Development costs are recognised as an intangible asset if the following conditions are met:

  • technical feasibility of completing the asset so that it will be available for use or sale;

  • availability of adequate resources-technical, financial and human-to complete development;

  • intention to complete and use or sell the intangible asset;

  • ability to use or sell the asset;

  • the way in which the asset will generate future economic benefits;

  • ability to measure the costs reliably.

    If the Company cannot distinguish between the research and development phases of an internal project to create an intangible asset, the costs of the project are treated as incurred entirely in the research phase.

    The Company has adopted the cost model as its accounting policy, under which intangible assets are measured at carrying amount equal to their cost less accumulated amortisation and any recognised impairment losses.

    An investment property is initially measured at cost, including any directly attributable expenditure. After initial recognition, the Company has opted for the cost model for all investment properties in accordance with the provisions of IAS 16 for that model.

    Transfers to and from the investment property category are made only when there is a change in use.

    Transfers between categories do not affect the carrying amount of the transferred property and do not change the cost of that property for measurement or disclosure purposes.

    Investment properties are depreciated on the same basis as property, plant and equipment.

    Financial assets include:

  • Shares held in subsidiaries;

  • Other non-current securities;

  • Long-term loans granted, together with interest thereon. This category includes amounts granted to third parties under contracts on which interest is charged in accordance with the law;

  • Other non-current receivables, together with interest thereon. This category includes guarantees, deposits and bonds placed with third parties, as well as receivables under lease contracts.

  NOTE 3 - ACCOUNTING POLICIES AND MEASUREMENT BASES (continued)

  Financial assets are classified, on initial recognition, as subsequently measured at amortised cost, fair value through other comprehensive income (OCI) or fair value through profit or loss, as appropriate.

  The classification of financial assets on initial recognition depends on the contractual cash flow characteristics of the financial asset and the entity's business model for managing them.

• Accounting policies for inventories

  Inventories are recognised in accounting on the date on which the risks and rewards are transferred. The cost of inventories that are not ordinarily interchangeable, as well as goods or services produced for specific projects, is determined by using specific identification of their individual costs.

  Upon derecognition, inventories and other interchangeable assets are measured and recorded using the FIFO method.

  Management periodically approves the level of normal technological losses.

  Inventories are accounted for on a quantitative and value basis using the perpetual inventory method.

  Value adjustments for inventories are recognised at each reporting date, based on the ageing of inventories, the findings of inventory count committees and/or profit centre managers, in order to present inventories at the lower of cost and net realisable value.

• Accounting policies for liabilities

  Liabilities are recorded in accounting through third-party accounts. The accounting records for suppliers and other liabilities are maintained by category and by each individual legal or natural person.

  Current income tax payable is recognised as a liability to the extent that it remains unpaid.

  Excise duties and special funds included in prices or tariffs are recorded in the corresponding liability accounts, without being recognised through revenue or expense accounts.

  Transactions that cannot be recorded separately in the appropriate accounts and which require subsequent clarification are recorded in a distinct account, "473 - Settlements from operations pending clarification".

  Foreign currency liabilities are recorded both in lei and in the foreign currency. A liability is classified as a current liability when:

  • it is expected to be settled in the Company's normal operating cycle; or

  • it is due to be settled within 12 months after the reporting date. All other liabilities are classified as non-current liabilities.

  Liabilities due after more than 12 months are classified as non-current liabilities.

  Interest-bearing liabilities are also classified as non-current liabilities, even if they are due within 12 months after the reporting date, where:

  1. the original term was for a period of more than 12 months; and

  2. a refinancing or rescheduling agreement has been concluded before the reporting date.

  NOTE 3 - ACCOUNTING POLICIES AND MEASUREMENT BASES (continued)
• Accounting policies for receivables

  Receivables include:

  • trade receivables, representing amounts due from customers for goods sold or services rendered in the ordinary course of business;

  • bills of exchange receivable and other third-party instruments;

  • amounts due from employees or related companies;

  • advances granted to suppliers of property, plant and equipment, goods and services;

  • receivables relating to employees and the state budget.

    Receivables are recognised on an accrual basis, in accordance with legal or contractual provisions. Customer accounting records are maintained by category (domestic customers - products and services, and foreign customers - products and services) and by each individual legal or natural person.

    Foreign currency receivables arising from the Company's transactions are recorded both in lei and in the foreign currency.

    Foreign currency transactions are initially recorded at the exchange rate communicated by the National Bank of Romania on the date of the transaction.

    Receivables that are time-barred are written off only after all legal steps for their settlement have been taken.

    Doubtful receivables are recorded separately in account 4118 "Doubtful customers" when the contractual due date has been exceeded by more than 30 days or when litigation with the customer has been initiated.

    In the annual financial statements, receivables are measured and presented at their collectible amount.

    Where a receivable from a customer has not been fully collected by the contractual due date, loss allowances on the receivable are recognised at the deadlines and percentages approved by the Board of Directors in the Accounting Policies Manual.

• Accounting policies for revenue recognition

  Revenue is recognised in the Company's statement of profit or loss when it is probable that future economic benefits will flow to the entity and these benefits can be measured reliably. Accordingly, revenue is recognised simultaneously with the recognition of an increase in assets or a decrease in liabilities.

  Revenue includes both amounts received or receivable on the Company's own account and gains from any source.

  Revenue is classified as follows:

  • operating revenue;

  • financial income.

Revenue is recognised on an accrual basis.

Revenue general ledger accounts are further detailed into analytical accounts in accordance with the applicable accounting regulations (the general chart of accounts) and the Company's internal requirements, subject to management approval.

Revenue is measured at the fair value of the consideration received or receivable. Revenue from sales is reduced by returns, trade discounts and other similar allowances.

Operating revenue comprises:

• revenue from contracts with customers (goods, services, merchandise and residual products);

• revenue related to the cost of inventories of finished goods;

• revenue from the production of property, plant and equipment;

• income from the reversal of impairment losses on assets and from the decrease or reversal of provisions;

• other operating revenue.

Revenue from contracts with customers is recognised in accordance with IFRS 15 "Revenue from Contracts with Customers". A customer is a party that has entered into a contract with the Company to obtain goods or services arising from the Company's ordinary activities.

Revenue recognition depicts the transfer of control of goods or services to customers, and the measurement of revenue reflects the consideration to which the Company expects to be entitled in exchange for those goods or services.

Control includes the ability to prevent other entities from directing the use of the asset and from obtaining the benefits from it. The benefits of an asset are the potential cash flows that may be obtained directly or indirectly through its use, sale or holding.

Revenue recognition is achieved through the application of the following five steps:

1. Identification of the contract with a customer

   The Company accounts for a contract with a customer only when all of the following conditions are met:

   1. the parties have approved the contract and are committed to fulfilling their respective obligations;

   2. the Company can identify each party's rights regarding the goods or services to be transferred;

   3. the Company can identify the payment terms for the goods or services to be transferred;

   4. the contract has commercial substance (i.e. it is expected to change the risk, timing or amount of the Company's future cash flows);

   5. it is probable that the Company will collect the consideration to which it will be entitled in exchange for the goods or services transferred to the customer. This requires an assessment of the customer's ability and intention to pay the consideration when it becomes due.

2. Identification of the obligations arising from the contract

   A contract includes performance obligations to transfer goods or services to a customer. A performance obligation to transfer a good or service is distinct if both of the following criteria are met:

   1. the customer can benefit from the good or service either on its own or together with other resources that are readily available to the customer; and

   2. the entity's promise to transfer the good or service is separately identifiable from other promises in the contract.

      NOTE 3 - ACCOUNTING POLICIES AND MEASUREMENT BASES (continued)

      The Company has not identified types of contracts with distinct performance obligations. In the case of warranties provided for satisfactory performance, these do not constitute an additional service and, therefore, do not represent a separate performance obligation.

3. Determination of the transaction price

   The Company determines the amount of consideration to which it expects to be entitled in exchange for the goods or services promised in a contract in order to recognise revenue. The price may be fixed or may vary due to discounts or other similar items.

   The Company's sales transaction prices are not adjusted for the time value of money, as the Company does not have supply contracts with payment terms exceeding one year or containing a significant financing component.

   For contracts entered into by the Company, the price is negotiated and remains fixed. Renegotiated contract modifications are applied prospectively from the date of renegotiation for subsequent orders, considering that the performance obligation is distinct and does not form part of a single performance obligation partially satisfied at the date of contract modification.

4. Allocation of the transaction price to the performance obligations in the contract

   If a contract contains multiple distinct performance obligations, the Company allocates the transaction price to each obligation proportionally to the standalone selling price of that obligation. The best evidence of the standalone selling price of each obligation is the price at which the good or service is sold separately by the entity.

5. Recognition of revenue at a point in time or over time as the Company satisfies a performance obligation

   A performance obligation in a contract is satisfied when control of the goods or services is transferred to the customer. Control represents the ability to direct the use of, and obtain substantially all of the remaining benefits from, the transferred good or service.

   The Standard specifies how revenue is determined, in that it must be recognised either at a point in time or over a period of time, which applies to both the sale of goods and the provision of services. A performance obligation is satisfied, and revenue is recognised over time if at least one of the following conditions is met:

   • the customer simultaneously receives and consumes the benefits of the entity's performance as the entity performs;

   • the entity's performance creates or enhances an asset (e.g., work in progress) that the customer controls as the asset is created or enhanced;

   • the entity's performance does not create an asset with an alternative use for the entity and the entity has an enforceable right to payment for performance completed to date.

   If a performance obligation is not satisfied over time, an entity satisfies the obligation at a specific point in time.

   If the Company reasonably expects that the effects on the financial statements for a portfolio of contracts with similar characteristics will not differ significantly from those determined by applying the standard to individual contracts within that portfolio, then contracts are analysed in aggregate.

   NOTE 3 - ACCOUNTING POLICIES AND MEASUREMENT BASES (continued)

   The timing of revenue recognition results from the correlation of specific contractual provisions with the requirements of IFRS 15.

   Rental income

   Rental income from investment properties is recognised in profit or loss on a straight-line basis over the lease term, in accordance with IFRS 16.

   Financial income includes interest income, foreign exchange gains, dividend income and other financial income.

   Interest income is recognised in profit or loss on an accrual basis, using the effective interest method. Interest income arising from a financial asset is recognised when it is probable that the entity will receive economic benefits and when the amount of income can be measured reliably.

   Dividend income arising from investments is recognised when the right to receive payment is established. The entity records dividend income at the gross amount, including any withholding tax (where applicable), which is recognised as a current expense.

   • Accounting policies on provisions

     Provisions are recognised when the entity has a present obligation (legal or constructive) as a result of a past event, it is probable that the entity will be required to settle the obligation, and a reliable estimate can be made of the amount of the obligation.

     The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the end of the reporting period, taking into account the risks and uncertainties surrounding the obligation.

     Provisions are accounted for by type, according to their nature, purpose or the item for which they were established.

     Provisions for warranties

     The entity establishes provisions for warranties when products or services covered by a warranty are sold.

     The amount of the warranty provision is based on historical, contractual or reasonable estimates for products/services executed for the first time by the company.

     Provisions for risks and expenses

     When risks and expenses are identified, arising from events that have occurred or are in progress, which are probable and whose object is clearly defined but whose realisation is uncertain, the company covers these risks by establishing provisions.

     Provisions for risks and expenses are made for items such as: industry-specific aviation risks, litigation, fines, penalties, compensations, damages, and other uncertain liabilities.

     NOTE 3 - ACCOUNTING POLICIES AND MEASUREMENT BASES (continued) Provisions for decommissioning of property, plant and equipment

     Upon the initial recognition of an item of property, plant and equipment, the costs of dismantling and removing the item and restoring the site on which it is located are estimated, as a consequence of using the item over a certain period of time.

     These costs are reflected through the recognition of a provision, which is recorded in profit or loss over the useful life of the property, plant and equipment by including it in depreciation expense.

     The revision of estimates for the decommissioning and restoration provision is determined by the annual review of dismantling costs. The committee of specialists of the company, appointed by decision, periodically analyses whether the initial estimates of dismantling costs remain appropriate.

     Provisions for employee benefits

     Provisions are recognised for employee benefits granted in accordance with the applicable Collective Labour Agreement, if and only if:

     • the company has a legal or constructive obligation to make such payments as a result of past events; and

     • a reliable estimate of the obligation can be made.

     Provisions are reviewed at the end of each reporting period so as to reflect the current best estimate.

   • Accounting policies on grants and other non-reimbursable funds

     Within grants, the following are presented separately:

     • government grants;

     • non-reimbursable loans in nature of grants;

     • other amounts received as grants.

       Grants are recognised at their approved amount. Grants received in the form of non-monetary assets are recognised at fair value.

       Government grants are initially recognised as deferred income at fair value when there is reasonable assurance that they will be received and that the company will comply with the conditions attached to the grant.

       Grants that compensate the company for expenses incurred are recognised in profit or loss on a systematic basis in the same periods in which the related expenses are recognised. Grants that compensate the company for the cost of an asset are recognised in profit or loss on a systematic basis over the useful life of the asset.

       Income-related grants are recognised on a systematic basis as income in the periods corresponding to the related expenses that the grants are intended to compensate.

       If, in a given period, grants are received relating to expenses that have not yet been incurred, the grants received do not represent income of the current period. They are recognised as deferred income and released to profit or loss as the expenses they compensate are incurred.

   • Accounting policies on the production of goods and services

   The organisation of management accounting within Aerostar SA is based on the applicable legal provisions and on the manual of procedures and specific working instructions for management accounting, adapted to the specific nature of the Company's activity.

   NOTE 3 - ACCOUNTING POLICIES AND MEASUREMENT BASES (continued)

   The object of management accounting consists of:

   • the collection of direct, indirect and auxiliary costs by their nature;

   • the allocation of indirect costs;

   • the absorption of direct and indirect costs.

   The purpose of management accounting is primarily the determination of the result by production or service order and by each organisational structure.

   In accordance with accounting regulations, the cost of goods, work and services performed does not include the following items, which are recognised as expenses of the period in which they are incurred:

   1. material losses, labour or other production costs related to scrap and the costs of idle capacity;

   2. general administrative expenses.

The costing method used by Aerostar SA is the job order costing method.

This method is appropriate for individual and batch production. The object of cost accounting and cost calculation under this method is the order launched for a specific quantity (batch) of products. Production costs are collected for each individual order either directly (for those of a direct nature) or by allocation (for indirect costs).

The actual cost per unit of product is calculated upon completion of the order by dividing the production costs collected for that order by the quantity of products manufactured under the respective order.

Orders are launched at planned cost, as applicable.

In the case of orders relating to export sales, the price is expressed in lei by translating the foreign currency amount at the budgeted exchange rate.

In applying its accounting policies, the company issues procedures, instructions and working guidelines approved by the executive management.

AEROSTAR considers the Romanian leu as the functional currency and the financial statements are presented in thousands of lei.

Foreign currency transactions are initially recorded at the exchange rate of the functional currency at the date of the transaction.

On the date of the Statement of Financial Position, financial assets and liabilities denominated in foreign currency are retranslated into the functional currency using the exchange rate, communicated by the Romanian National Bank, effective at the end of the financial year:

Foreign exchange gains and losses arising on the settlement of financial assets and liabilities denominated in foreign currency are recognised in the Statement of Profit or Loss for the financial year during which they occur.

Considering that 85% of the turnover recorded during the reporting period is denominated in USD and EUR, while a significant portion of operating expenses is denominated in lei, fluctuations in exchange rates will affect both its net revenues and financial position as expressed in the functional currency.

During the reporting period, the net foreign currency exposure, determined as the difference between cash inflows from financial assets and cash outflows for financial liabilities denominated in foreign currencies, is as follows:

AEROSTAR has decided not to use foreign currency hedging (options, forwards) due to the relatively high initial costs and the potential loss of opportunities in case of LEU depreciation against the main currencies (USD, EUR).

The remeasurement of financial assets and liabilities denominated in foreign currencies at 31 December 2025 resulted in the recognition of a foreign exchange loss of 5.315 thousand lei.

Net carrying amount

Net carrying amount on 31.12.2024 and transactions during the period:

(unless specified otherwise, all amounts are stated in thousand lei)

The category of intangible assets includes the following classes of assets of similar nature and use:

• Licences

• Other intangible assets

Software programmes are recorded under other intangible assets.

The useful lifetimes for the intangible assets are established in years, based on the period of the contract or the service life, as the case may be. The useful life of the licenses and software purchased or internally generated is 3 years.

Amortisation expenses are recognised in the income statement using the straight-line method.

The intangible assets carried in the balance sheet as at 31 December 2025 have not been impaired, and no impairment adjustments were recognised. When determining the gross carrying amount of intangible assets, the company uses the historical cost method.

The value of fully amortised software licences as at 31 December 2025 and still in use is 7.165 thousand lei.

All intangible assets carried in the balance sheet as at 31 December 2025 are the property of Aerostar S.A. Intangible asset additions during the period were as follows: 1.130 thousand lei

• Development of the production management IT system 68 thousand lei

• Purchase of software licences 1.062 thousand lei

During the reporting period, there were no licences generated internally or acquired through business combinations. During the reporting period, there were no assets classified as held for sale in accordance with IFRS 5.

Net carrying amount as at 31 December 2025 and transactions during the period:

Net carrying amount as at 31 December 2024 and transactions during the period:

Property, plant and equipment are measured at acquisition or production cost less accumulated depreciation and impairment losses.

The depreciation method applied to property, plant and equipment is the straight-line method. Depreciation expenses are recognised in the profit and loss account.

The following useful lives are assumed for property, plant and equipment:

• buildings 30-50 years

• plant and machinery 2-25 years

• motor vehicles 4-18 years

• other property, plant and equipment 2-18 years

• investment property 25-50 years

  Useful lives are determined by committees comprising the Company's specialists. The tax depreciation lives of property, plant and equipment are regulated by the applicable tax legislation.

  The Company has not acquired assets through business combinations and has not classified any assets as held for sale.

  Investment property comprises 13 real estate properties - buildings leased to third parties under lease agreements. Rental income for this category of assets amounted to 3.278 thousand lei.

  At the date of transition to IFRS, the Company estimated and included in the cost of property, plant and equipment the estimated costs of dismantling and removing the assets at the end of their useful lives.

  These costs were recognised through the establishment of a provision, which is recognised in the income statement over the useful lives of the property, plant and equipment through inclusion in depreciation expense. This expense is not tax deductible.

  This expense is not tax deductible.

  The depreciation of an asset begins when the asset is available for use and ends on the day when the asset is reclassified in another category or when it is derecognised.

  The depreciation does not end when the asset is not in use.

  The land and buildings are separable assets, and their accounts are kept separately, even when they are acquired together.

  The land has an unlimited useful life and therefore does not depreciate.

  The value of land owned by Aerostar SA is presented at acquisition cost, i.e. the assumed cost that was recorded at the date of transition to IFRS.

  In accordance with the provisions of IAS 36 - Impairment of assets, the Company proceeded to the identification of any signs of impairment of property, plant and equipment, taking into account the external and internal sources of information.

  Internal sources of information:

  The economic performance of the assets is good, all fixed assets that are in operation benefit the Company.

  External source of information:

  The indicator providing information on investor interest in listed companies on the capital market is the market capitalisation to equity ratio (MBR).

  Indicator MBR - Market to Book Ratio 31.12.2025

  Market capitalisation to equity ratio (MBR) 2,02

  The above-unit value of the MBR indicator is achieved by high-performing companies on the capital market that attract investor interest.

  The property, plant and equipment in the balance at 31 December 2025 are not impaired and no significant indicators of impairment were identified.

  The gross carrying amount of property, plant and equipment fully depreciated and still in use as at 31 December 2025 is 128.334 thousand lei.

  As at 31 December 2025, no mortgages have been established on the investment properties owned by Aerostar S.A.

  Additions of property, plant and equipment were as follows: 25.214 thousand lei

  • commissioning of technological equipment, hardware,

    and measurement and control equipment - 10.037 k lei

  • building modernisation work 1.987 k lei

  • technical installations and assets under construction 327 k lei

  • property, plant and equipment under construction performed during the period 12.853 k lei

  • reclassification of building to investment property 10 k lei

    Disposals of property, plant and equipment were as follows: k lei

  • transfer of assets under construction to property, plant and equipment following commissioning

  • derecognition of property, plant and equipment because the Company no longer expects future economic benefits from their use

12.023 k lei

509 k lei