ASEE Group – Annual Report Asseco South Eastern Europe (ye25 gasee and asee management report)

Annual Report

Presence

in 26 countries

Revenue generated

Contracts in Pipeline for 2026

(based on gross profit on sales - Margin1)

Market Cap

1. ‌MESSAGE FROM THE PRESIDENT

   Dear Shareholders,

   I am proud of the results we have achieved in 2025. They show the consistent implementation of our growth strategy, optimized business, and how engage our employees have been across all markets. At the end of 2025, ASEE Group (including Payten) sales revenue was EUR 424 thousand - 7% increase from last year, with EBITDA at EUR 87 thousand - 15% higher than at the end of 2024.

   In 2025, we put even more emphasis on the effective performance of our activities. We deployed extra performance indicators and streamlined our sales funnel management for an even better growth curve. Operational cash flow has increased, demonstrated a visible improvement in our ability to generate finance from our core business. The profit-to-cash conversion index remained stable, providing a solid foundation for financing our growth, liabilities and further investments in innovation. This financial resilience gives confidence in our perspectives for the future.

   And in M&A, 2025 was a year of continued expansion through markets that feature high growth potential, at the same furthering our excellence in merchant support services and e-payment solutions. And to that end we have welcomed two new entities in ASEE & Payten Group: Fawaterk - one of the fastest-growing digital payment platforms in Egypt, certainly one of the most promising MENA territories for us; and Sycket - a cloud-based sales platform for ECR (cash registers) and POS (points of sale), a company based in Spain which serves the retail, hospitality and service sectors. Sycket significantly backs up our competences in the area of physical outlet services, including store management, inventory support and invoicing. When combined with Payten's e-commerce and payment processing solutions, we are able to provide end-to-end support for merchants, whether they need online payments or are brick-and-mortar shops.

   On top of these acquisitions, we have also continued our organic growth in the area of merchant payment solutions. As an example, Monri from our company portfolio was recognised in Deloitte's 2024 Technology Fast 500 EMEA ranking thanks to the impressive 740% revenue growth attained over four years only.

   In terms of our payment infrastructure, we have successfully guarded our market leader position, delivering many key projects that had strategic importance. In SoftPOS segment, Payten was recognised among Top 10 suppliers in Europe, a true achievement.

   Moreover, in banking solutions we have achieved several key milestones that confirm our strategic directions and prove we have the operational competence for success. We finalised over 20 SWIFT and SEPA projects using our new Financial Gateway product and meeting strict regulatory deadlines for every one of them. In Romania, we rolled out one of the most complex banking integrations on the market when uniting Intesa Sanpaolo Romania with First Bank systems. Our deep expertise in data consolidation, architecture and regulatory alignment enabled a smooth transition to a common banking platform that is ready for the future, setting the standard for large-scale financial transformations. On top of that, the deployment of Open Banking and InACT® (SaaS) tools now allow customers across many markets to benefit from enhanced fraud protection and comprehensive legal compliance, opening up opportunities for further expansion. We also demonstrated the level of competence we have when delivering turnkey state-of-the-art systems for the banking sector, as was a case of for example a Serbian bank for which we successfully brought a new central system and a future-ready digital platform, enabling the bank a rapid improvement of its process efficiency and enhanced standard of customer service.

   We also developed our AI competence. The year 2025 was a breakthrough for our AI-dedicated subsidiary, Things Solver, which prem-iered Workforce Hub - a platform based on agentic artificial intelligence (Agentic AI). We are proud of eight agents already implemented in production environment, with another seven also during deployment in three different sectors. Our AI agents processed an enormous quantity of real-world business interactions during 2025, providing reliable and scalable support. Supporting customers on both regional markets as well as in USA, Things Solver has proven its ability to deliver enterprise-grade AI solutions that have measurable impact in our customers' businesses. In the last month alone, our agents have responded to more than 30,000 user inquiries.

   Innovation remains a key feature in our growth strategy. In Payten R&D, we expanded functionalities of many solutions, including in the case of Nestpay Torus and Payten Payment Gateway with Apple Pay, Visa Tokenisation and CIT /MIT scheme support, implementing these solutions in production environment across a number of markets simultaneously. An din ASEE R&D, there were some debuts, including AuthHub, ASEE Flow or the new Live Nova with AI and automation. Our Turkish branch expanded InACT® with further anti-fraud functions, and the subsidiary has sustained its innovation leader rank for the seventh year in a row and was named in the prestigious ranking of biggest R&D investors in Turkey.

   I am optimistic about the future. In the near future, we was to focus on strategic development directions which are further excellence in operational efficiency and further expansion of business in high-growth potential areas and markets.

   Last but not least, I want to thank our employees for contributing to our successes in 2025, as well as our customers and shareholders for the trust they have shown in us.

   Piotr Jeleński,

   President of Board, ASEE Group including Payten

   Management Report of ASEE Group and ASEE S.A. for the year ended 31 December 2025 3

   Management Report

   Asseco South Eastern Europe S.A. and ASEE Group
   
   

   Management Report

   Asseco South Eastern Europe S.A. and ASEE Group

   for the year ended on 31 December 2025

   1. MESSAGE FROM THE PRESIDENT 3

   2. BACKGROUND INFORMATION ABOUT ASSECO SOUTH EASTERN EUROPE S.A. AND ASEE GROUP 7

      1. Business Activity 7

      2. Officers of Asseco South Eastern Europe S.A. 8

      3. Organizational Structure of Asseco South Eastern Europe Group 9

      4. Growth Strategy and Directions 11

      5. Main Products, Goods and Services 15

      6. Company and Group Trading Markets 26

      7. Significant Agreements of the Company and the Group 30

   3. FINANCIAL INFORMATION OF ASSECO SOUTH EASTERN EUROPE S.A. 33

      1. Financial results of Asseco South Eastern Europe S.A. 33

      2. Structure of the statement of financial position of ASEE S.A. 33

      3. Structure of Cash Flow 34

      4. Financial Ratio Analysis 34

   4. FINANCIAL INFORMATION OF ASSECO SOUTH EASTERN EUROPE S.A. 35

      1. Financial results of ASEE Group for Q4 2025 35

      2. Financial results of ASEE Group for entire 2025 /cumulatively/ 38

      3. Financial Ratio Analysis 43

      4. Structure of the consolidated statement of financial position of ASEE Group 44

      5. Structure of Cash Flow 46

      6. Geographical Structure of Results 47

   5. SHARES AND SHAREHOLDING 49

      1. Shareholding 49

      2. Contracts known to the Issuer potentially resulting in future changes of shareholding interests held by existing shareholders and bondholders 50

   6. CORPORATE GOVERNANCE DECLARATION 50

      1. Corporate governance rules not adopted by Asseco South Eastern Europe including reasons 50

      2. Main features of internal control and risk management systems in the context of separate and consolidated financial statements preparation 53

      3. Shareholders holding significant holdings directly or indirectly 54

      4. Holders of securities giving special control interest 55

      5. Voting right restrictions 55

      6. Restrictions on transfer of securities 55

      7. Appointment and dismissal of officers, their powers including the right to decide on share issue or redemption 55

      8. Amendments of ASEE Articles of Association and Statute 55

      9. General Meeting, its operation and key powers, and rights of shareholders 56

      10. Activities of the management, supervisory or administrative bodies of Asseco South Eastern Europe, their committees including the Audit Committee, the composition of these bodies and changes in the recent financial year 57

      11. Diversity policy applied to administration, management and supervisory bodies 65

   7. SUSTAINABILITY STATEMENT 66

      1. General disclosures 66

         1. Management structure 66

         2. Sustainable Development Strategy 72

         3. Material impact, risks and opportunities 74

         4. Interests and views of stakeholders 76

         5. Material topics and their interaction with strategy and business model 77

      2. Table of compliance 78

      3. Environment 79

         1. EU Taxonomy 79

         2. Climate change 87

         3. Circular economy 94

      4. Social information 95

         1. Own workforce 95

         2. Value chain workers 105

         3. Consumers and end-users 106

      5. Business conduct 108

   8. OTHER INFORMATION ABOUT ASEE GROUP & ASSECO SOUTH EASTERN EUROPE S.A. 118

      1. External and Internal Development Factors for the Company and the Group 118

      2. Unusual Events Affecting Financial Performance 119

      3. Relevant Risks and Threats 119

      4. Main Equity Investments in ASEE Group 123

      5. Organisational and Personal Affiliations 123

      6. Related Party Transactions 123

      7. Financial Resource Management 123

      8. Borrowings, Loans and Guarantees 123

      9. Loans Granted in 2025 123

      10. Key Intangible Assets 123

      11. Share Issue 123

      12. Financial Projections 124

      13. Feasibility of Investments 124

      14. Changes in Corporate Governance 124

      15. Agreements with Officers with Severance Clauses 124

      16. Employee Share Scheme Control 124

      17. Remuneration of Management and Supervision Boards 124

      18. Pension and Similar Liabilities 124

      19. Auditor Agreement 124

      20. Auditor Remuneration 125

      21. Significant Off-balance Sheet Items 125

      22. Significant Litigations 125

      23. Significant Events after 31 December 2025 125

   9. STATEMENT OF THE MANAGEMENT BOARD OF ASSECO SOUTH EASTERN EUROPE S.A. COMPLEMENTING THE ANNUAL REPORT 126

2. ‌BACKGROUND INFORMATION ABOUT ASSECO SOUTH EASTERN EUROPE S.A. and ASEE GROUP

   Asseco South Eastern Europe S.A. ("Parent Entity" "Company", "Issuer", "ASEE S.A.") is a public limited company based in

   Rzeszów, Poland, established on 10 April 2007.

   On 11 July 2007, the Company registered with the District Court in Rzeszów, 12th Commercial Division, with company number

   (KRS) 0000284571.

   It has been listed since 28 October 2009 on the main market of Warsaw Stock Exchange (Giełda Papierów Wartościowych

   w Warszawie S.A.).

   Asseco South Eastern Europe Group ("Group", "ASEE Group", "ASEE") consists of Asseco South Eastern Europe S.A. and its subsidiaries.

   1. ‌Business Activity

      ASEE S.A. mainly engages in holding activities, focusing on the management of the Group, and expanding its geographical and product coverage.

      ASEE Group conducts operational activities in the area of sales of proprietary and third-party software, as well as implementation, integration, and outsourcing services. The Group provides complete solutions and proprietary products indispensable in bank operations, advanced payment solutions that allow market players to lead in their regions, as well as system and hardware integration and deployment services for global brands.

      ASEE Group distinguishes the following reporting segments, reflecting the structure of its operations:

      • Banking solutions

      • Payment solutions

      • Dedicated solutions

      The Banking Solutions segment includes comprehensive solutions and products necessary to run a bank, such as: multichannel solutions for banking products and service delivery, solutions for improving customer communication, integrated central banking systems, authentication tools, mandatory reporting support and management information systems, as well as systems for risk management and fraud prevention. On top of that, in this segment, the Group offers 24x7 online services as well as consultancy related to mobile and online banking and digital transformation.

      The Payment Solutions segment includes end-to-end solutions supporting online payment processing as well as offline payment channels for both financial and non-financial institutions, which are offered by the Payten Group. These are solutions for e-commerce (online payment gateways, support for alternative payment methods - cryptocurrencies, QR codes, solutions enabling card tokenisation, subscription payments), mobile payments (mPOS, vPOS, SoftPOS), payment card processing and services related to ATMs and EFT POS payment terminals. The Group provides software and services, as well as ATMs and payment terminals, also in device outsourcing model that enables customers to rent hardware and take advantage of maintenance and infrastructure management services. This segment also operates independent ATM networks operating under the MoneyGet brand. In addition, the Group has a network of independent EFT POS payment terminals used in merchant outlets

      - this IPD service under the Monri brand enables merchants to, instead of multiple EFT payment terminals at the point-of-sale, use only one device that is connected directly to multiple billing centres (card issuers). In addition, the segment offers complementary solutions for creating online and mobile stores and marketplace platforms, and for merchant outlets - cash register management and sales support systems (ECR).

      In the Dedicated Solutions segment, the Group provides services to the following sectors: public service providers and telecoms, the public service sector (including road infrastructure), government entities, as well as the banking and finance sector, in the following business lines: BPM business process management, customer service and sales support platform, data records, smart city solutions, AI & Machine Learning, e-tax, border control, authentication, dedicated solutions, BI and ERP. The Group focuses on its own solutions, however also offers a full range of integration services for solutions of other leading global vendors.

   2. ‌Officers of Asseco South Eastern Europe S.A.

      As at the date of publication of this report (25 February 2026), the Management Board, the Supervisory Board, and the Audit Committee were composed as follows:

      Supervisory Board	Management Board	Audit Committee
      Jozef Klein	Piotr Jeleński	Artur Kucharski
      Adam Góral	Miljan Mališ	Adam Pawłowicz
      Jacek Duch	Michał Nitka	Jacek Duch
      Artur Kucharski	Kostadin Slavkoski
      Adam Pawłowicz

      In the reporting period, as well as from 31 December 2025 to the date of publication of this report (25 February 2026), there were no changes in the composition of the Issuer's management and supervisory bodies.

   3. ‌Organizational Structure of Asseco South Eastern Europe Group

      Presented below is the organizational structure of ASEE Group along with equity interests and voting rights at the general meetings of shareholders/partners of its subsidiaries as at 31 December 2025 and 31 December 2024:

      Payten d.o.o.. Podgorica

      Montenegro

      100/100 (100/100)

Necomplus PERÚ SAC

Peru 100/100 (100/100)

subsidiary company

associated company

Clever Solutions Sh.p.k.

Albania 45/45 (45/45)

ASEE Solutions d.o.o. Beograd

Serbia

100/100 (100/100)

Touras Tech Global Private Limited

India

100/100 (100/100)

Bithat Solutions s.r.l.

Romania 100/100 (100/100)

Askepnet TOV

Ukraine 100/100 (100/100)

Helius Systems Sh.p.k.

Albania 70/70 (70/70)*

ContentSpeed s.r.l.

Romania

80/80 (80/80)*

Touras Global IT Solutions L.L.C. United Arab Emirates 100/100 (100/100)

100/100 voting rights / equity interest as at 31 December 2025 (in %) (100/100) voting rights / equity interest as at 31 December 2024 (in %)

* thi s investment i s accounted for using the present ownership method, assuming we hold 100% of shares due to the exis ti ng put/ca l l opti ons

The parent company of Asseco South Eastern Europe S.A. is Asseco International a.s., seated in Bratislava. As at 31 December 2025, Asseco International a.s. held a 50.89% stake in the share capital of ASEE S.A.

Both as at 31 December 2025 and 31 December 2024, voting rights held by the Group in ASEE Group companies were equiv-

alent to the Group's equity interests in these entities.

Changes in the Group structure

During the period of 12 months ended 31 December 2025, the Group's composition changed as follows:

• Purchase of the company Fawaterk for E-payments LLC

  On January 15, 2025, Payten Holding SA acquired 51% of shares in Fawaterk for E- payments LLC based in Cairo (Egypt).

• Sale of Mobven Teknoloji Anonim Şirketi

  On 11 February 2025, a share sale agreement for Mobven Teknoloji Anonim Şirketi was signed. Payten Teknoloji Anonim Şirketi sold all of its shares (100%) in Mobven and, as a result, the Group lost control over this entity. The consideration for the shares will be paid in seven instalments, starting from the first anniversary of the transaction.

  As at the end of 2024, in connection with the plan to sell the subsidiary, Mobven's assets and liabilities were classified in the Group's statement of financial position as assets held for sale and related liabilities, measured at the lower of their carrying amount and fair value less costs to sell. Accordingly, in the prior year, net assets held for sale were recognized at the estimated selling price of the company.

  In the current reporting period, the result on disposal was determined as the estimated selling price of the shares less net assets. Additionally, other comprehensive income previously recognized was reclassified to profit or loss as part of the disposal result. The loss on disposal of Mobven was estimated at PLN 6.9 million and recognized in financial expenses.

• Change of name of subsidiary of Touras Technologies Limited - Touras Global IT Solutions LLC

  On February 25, 2025, the subsidiary of Touras Technologies Limited based in Dubai (United Arab Emirates) changed its name from Safexpay Software Solutions LLC to Touras Global IT Solutions LLC.

• Acquisition of Sycket Technologies, SL

  On April 22, 2025, Payten Holding SA acquired 70% of the shares in Sycket Technologies, SL, based in Seville (Spain).

• Sales Paygate (Private) Limited

  On June 16, 2025, Paygate (Private) Limited, based in Colombo (Sri Lanka), was sold.

• Establishment of Monripayments , SLU

  On December 5, 2025, Payten Holding SA established a company in Spain called Monripayments, SLU, acquiring 100% of its shares.

• Acquisition of shares in Necomplus, SL

On December 10, 2025, Payten Holding SA acquired 15.03% of the shares in Necomplus, SL, based in Alicante (Spain), in connection with the exercise of a put option granted to non-controlling shareholders of Necomplus. Following the transaction, Payten Holding SA holds 100% of the shares in Necomplus, SL.

The Banking Solutions segment includes comprehensive solutions and products necessary to run a bank, such as: multi-channel solutions for banking products and service delivery, solutions for improving customer communication, integrated central banking systems, authentication tools, mandatory reporting support and management information systems, as well as systems for risk management and fraud prevention. On top of that, in this segment, the Group offers 24x7 online services as well as consultancy related to mobile and online banking and digital transformation.

Omni-channel Sales and Services

Digital Edge Digital Edge is an e-banking platform that provides customers with multi-channel access to the Bank's products and services. Thanks to the Digital Edge solution, a bank can increase the activity and loyalty of existing customers, as well as effectively acquire new ones. Digital Edge includes channels used by bank customers, an admin panel used by the staff, as well as the multi-channel software that connects the platform to all the bank's backend systems. Digital Edge provides 24x7 support regardless of back-end system availability, by queuing initiated transactions for later execution. Digital Edge is compatible with the following online channels: Mobile/Tablet, Web, ATMs, social media (Facebook), and Chatbot channel.

Digital Origination Digital Origination is a software allowing full flexibility of the sale process (banking products, services, and their bundles) as well as credit analysis, enabling quick marketing of products and complete control and transparency of customer application handling both in bank branches and in self-service channels. Thanks to the open architecture, built-in AI and latest technology, the software contributes to accelerated digital transformation, therefore permitting innovation as well as integration of third-party solutions. Digital Origination provides a unified and personalised user experience on screens of all sizes - desktop, tablet, and mobile.

Open Banking The Open Banking platform is a set of tools and processes that enable a bank to share its data, processes, and business functionalities across broader ecosystems. An ecosystem is the environment encompassing banks, customers, fintech companies, external vendors, software developers, and other business partners with whom the bank contracts. The Open Banking solution meets all the requirements of the PSD2 Payment Services Directive in terms of customer authentication and transactions, fraud monitoring, as well as provides open APIs for accessing account information and initiating payments.

Digital SPM Digital Sales Performance Manager is a solution enabling the bank to set and achieve sales goals in a more organised and effective way - top down from the level of the entire bank, branch or manager, to the level of an individual employee. Using the latest technologies, this solution supports the tasks of planning and measuring sales goals and KPI for various products/bank offers over specific time intervals.

Digital CIF Digital CIF solution, with its flexible process engine and high parametrization capabilities, provides efficient omni-channel customer on-boarding process on self-service and assisted channels (branches), providing optimal user experience, reducing the effort needed of customers and employees, and time needed for end-to-end onboarding process. On the other hand, ensures execution of all important validations that have to be executed during the process, reducing the associated risks. Solution has the capability to be implemented as a standalone module for customer master data management.

Digital Branch Digital Branch is a software package supporting the bank's services in customer service channels such as the bank's branch network, external agencies, and customer service centers. This application helps achieve operational excellence at the branch level, supports the work of customer advisors in branches, speeds up the branch-level processes and operations, and streamlines customer service by placing the customer in the centre instead of the traditional customer account-oriented approach. It integrates the procedures performed by the customer advisors in the branch in the general multi-channel service model.

Customer Analytics Customer Analytics is a solution featuring a set of analytical and forecasting models to support banks in the acquisition of new as well as retention of existing customers, and in improving their profitability thanks to tailored campaigns and offers that increase customer loyalty and enhance their relations with the bank. Experience Customer Analytics makes possible more effective campaigns and marketing offers. The multi-channel approach allows integration and unification of campaigns across all channels used by a bank. The use of machine learning

and forecasting models permits users to rely not just on their own expertise but also on forecasts made available by modern technology.

Supply Chain Finance The Supply Chain Finance platform allows invoice factoring and discounting online. This light front-end application for the factoring market players is designed for bank customers who want to avoid bank visits. It allows viewing the current factoring agreements, uploading invoices, and selecting invoices for acquisition. The simple and easy-to-use Supply Chain Finance platform is especially useful for large customers with a large number of suppliers and receiving a large number of invoices every day.

Digital Pricing Digital Pricing is a centralized pricing and tariff management platform that ensures consistent, transparent, and governed pricing across products, services, and customer relationships. It provides a single source of truth for standard and personalized pricing, supported by approval workflows, audit trails, real-time and batch fee calculation, and reporting on revenues, savings, and pricing impact.

Banking Operations In the Banking Solutions segment, ASEE offers three different central banking systems. Two of them are based on the Oracle platform (Absolut and Bapo), and one on the Microsoft platform (Pub2000).

Oracle platform systems:

• Absolut

• Bapo

Absolut is a system of applications designed to support financial and banking activities. The system consists of the main module and several additional modules such as: Internet banking, management information system, card management, insurance management. In addition, it contains the Absolut Leasing app which is used to operate leasing companies.

Bapo is an integrated central banking system equipped with numerous front-end solutions, optimised for retail and commercial banks operating in Southeast Europe.

Microsoft platform systems:

- Pub2000

Pub2000 is an integrated application for retail and corporate banking. The Product Factory function makes it a unique solution on the market because it allows generating new banking products and services, as well as defining or modifying the course of processes without changing the application itself.

In addition to central banking systems, ASEE offers Treasury and Collateral Management solutions in the Solutions segment for the banking sector.

Treasury Treasury is an advanced front, middle and back office solution designed to meet all the needs of treasury operations in a modern environment. The solution contributes to better overall profitability of a bank while accurately anticipating risks and planning in accordance with applicable international and local regulations.

DigCM - Digital Collateral Management Platform

DigCM (Digital Collateral Management) is an end-to-end platform for managing collateral data and processes throughout the entire collateral lifecycle. It serves as a centralized system for collateral and guarantee agreements, assets, and collection instruments across all business segments. The solution includes three independent modules: Collateral Asset (registration and data management), Allocation & Eligibility Calculation (rule-based eligibility and value allocation using Basel, IFRS, and Central Bank methodologies), and Collection (workflow support for distressed asset collection). DigCM enables role-based workflows with internal and external participants, ensuring controlled and auditable processes. Its structured data model supports legal and value analysis during loan origination and manages collateral registration and maintenance post-approval. By automating collateral workflows, DigCM improves efficiency, ensures regulatory compliance, and provides a single source of truth for effective risk management.

Financial Gateway Financial Gateway (FG) is a unified platform for managing and orchestrating financial transaction flows across diverse financial ecosystems. It acts as a central integration layer between core banking systems and multiple financial networks, enabling secure, reliable, and bidirectional transaction processing. FG supports integration with major financial infrastructures, including SWIFT, SEPA, ACH, RTGS, Instant Payment systems, and other processing networks through dedicated, network-specific connector modules. These native connectors handle protocol management, message exchange, and network-specific processing, ensuring flexibility and scalability as business needs evolve. A core design principle of FG is native ISO 20022 support. The platform natively processes ISO 20022 messages and provides advanced message transformation capabilities, enabling conversion between legacy formats and the ISO 20022 standard. By unifying transaction processing, standardizing

messaging, and simplifying integrations, Financial Gateway helps financial institutions reduce complexity, ensure regulatory compliance, and accelerate adoption of modern payment and messaging standards.

Risk and Compliance

Tezauri™ Tezauri™ is an integrated banking solution related to Business Intelligence, enabling risk management, credit assessment through an integrated scoring system and profitability analysis, supervision of regulatory compliance, as well as implementation solutions.

Scoring Scoring is a solution that supports banks in automating important operational decisions using forecasting models. Thanks to a simple but robust environment, easy access to data and the use of best practices, the solution enables comprehensive management of forecasting models, from their creation, through their continuous verification and monitoring, up to model adjustment and exit.

Funds Transfer Pricing Funds Transfer Pricing (FTP) enables banks and other financial institutions to better understand internal performance at all levels of operations and take advantage of all business opportunities, thereby increasing the company's profitability. FTP is tailored to the needs of Southeast European markets. With flexible financing models, integration with Tezauri BDW or any external data source, as well as detailed reports based on personalised profitability factors, FTP is an effective and reliable solution for any financial institution.

AML AML (Anti-Money Laundering) is an integrated solution that uses advanced patterns and a wide range of scenarios to detect in real (or near real) time illegal activities and potential money laundering activities by analyzing the behaviour of internal customers and their contractors on every transaction across the corporate organisation. Offering fully automated workload reduction processes, the system provides easy-to-use and reliable modules to perform key AML tasks such as customer identification, periodic monitoring, auditing, and ensuring compliance with relevant AML directives and local regulatory requirements.

Early Warning System Early Warning System (EWS) is a solution supporting proactive risk management in banks and quick response to negative changes in the credit portfolio. EWS ensures early detection of potentially negative changes at the customer level as well as the entire credit portfolio, and enables the initiation of risk mitigation measures even before the actual increased risk results from the identified negative changes.

ASEE Impairment Solution ASEE Impairment Solution is an advanced tool for risk management and credit risk segmentation according to IFRS 9, and for calculating expected credit losses. It allows easy adaptation to IFRS 9, process support and help in report creation according to new regulatory requirements.

InACT® InACT® is a module-based application that monitors and prevents fraud in multi-channel transactions, non-transactional fraud, fraud attempts, employee fraud incidents as well as operational errors, and it also monitors regulatory compliance. InACT® offer includes the following modules: Enterprise Fraud Detection & Prevention, Internal Fraud Management, InACT® Euler with Intelligent Anomaly Detection and Relationship Network Analysis. InACT® Enterprise Fraud Detection & Prevention helps financial institutions protect their customers from multi-channel fraud attacks. InACT® Internal Fraud is used to detect and prevent employee fraud, operational errors and regulatory violations. InACT® Euler prevents abuse through the application of AI which detects anomalies using predictive analytics. On the other hand, thanks to InACT® Relationship Network Analysis, companies can easily detect sophisticated loops and fraud networks, as well as perpetrators and victims of organised crime. InACT® complies with PSD2 requirements and is offered to financial institutions as part of an open banking package.

Authentication Solutions

SxS Advanced Authentication SxS is a comprehensive, proven, multi-level authentication solution, designed to provide extremely secure access to every application and system through the use of progressive technology. For the highest level of security and identification of end users, SxS uses a wide range of authentication methods. It combines biometrics with a risk analysis mechanism, thus ensuring constant user satisfaction. The multi-level solution deals with all security obstacles, regardless of whether users use a hardware or software authentication token.

mToken mToken is a mobile token coupled with SxS, a source of authentication methods that can be used in a mobile device. mToken can be provided as a developer toolkit (SDK) for implementation in an existing mobile app or as a standalone mobile app (requiring a minimum level of customisation).

AppProtector AppProtector is a mobile app security technology that can be built into or connected to an app. It provides protection against unauthorised application launch, enables early intrusion detection, and prevents real-time attacks on mobile phones. This technology is provided in the form of a set of tools for developers (SDK) to be implemented in a mobile application. SDK detects potential threats from the mobile device on which the application is running and offers a specific response in the event of a threat (e.g. termination of the mobile application).

App Protector Portal Portal is an extension of App Protector that allows configuring the type of response that will follow a given type of threat once detected. It also allows visualising statistics and reports related to mobile attacks.

PKI-based Advanced E-signature and Encryption:

SecureSign,

CMS

SecureSign is an advanced digital signature solution that enables secure, compliant electronic signing across organizations. It supports a wide range of certificate types, including local PKI hardware devices, software certificates, and cloud-based certificates, enabling both advanced and qualified electronic signatures in line with eIDAS and related regulatory frameworks. The solution provides flexible signing workflows, including single and bulk signing, serial and parallel approval flows, and automated document sealing. SecureSign integrates seamlessly with enterprise platforms such as OfficePoint, BoardPoint, and other business applications. With robust APIs, connectors, and pre-built integrations, it can be deployed on-premises or in the cloud, ensuring secure, auditable, and legally valid digital signing operations.

CMS (Credential Management System) is a flexible solution for managing entities, devices, certificates, and certification policies. It supports certificate issuance on hardware devices (smart cards, USB tokens), software certificates, CSR-based issuance, and cloud certificates used on HSM devices.

The system provides multi-institution support, role-based administration, notifications, and full audit logging, while remaining browser-agnostic and operating system independent. CMS also enables digital signing and document encryption over unsecured networks and integrates easily with existing web applications. It supports secure authentication, transaction signing, and qualified and advanced electronic signatures with legal equivalence to handwritten signatures.

Services

Managed Multichannel e-Banking

Managed Multichannel e-Banking is a 24x7 electronic banking service that can be hosted in various CEE countries. It enables retail and corporate clients of a bank to access its data and services from anywhere and using various devices.

Consultancy ASEE offers consultancy services in the area of e-banking and digital transformation. It supports banks in their transformation from banks based on customer service in branches to banks operating online.

Infrastructure as a Service In the Infrastructure as a Service model, ASEE offers companies cloud computing services and on-demand hard and volatile storage resources.

In the Dedicated Solutions segment, the Group provides services to the following sectors: public service providers and telecoms, the public service sector (including road infrastructure), government entities, as well as the banking and finance sector, in the following business lines: BPM business process management, customer service and sales support platform, data records, smart city solutions, AI & Machine Learning, e-tax, border control, authentication, dedicated solutions, BI and ERP. The Company focuses on its own solutions, however also offers a full range of integration services for solutions of other leading global vendors.

Other Proprietary Software Business Process Management

ABC ABC is a Content Services Platform (CSP) solution that helps organisations increase the usefulness of their information and improve process management by using a content services platform. The solution is designed to manage specific cases, digitize documents and preserve archived information. It is originator-independent and includes the following modules, among others: a digital law firm, electronic correspondence adapted to the compliance policy, distribution and decision-making process tracking, document management and archiving. ABC provides tools to automate processes and adapt them to customer needs.

DTH DTH (Digital Transformation HUB) is an orchestration platform that enables the creation of fully automated and digitised processes within the organisation. DTH makes organisations save time and improve user comfort by eliminating manual tasks thanks to fully digital customer verification and personal data entry, product purchasing and receipt confirmation for use in many industries.

EnterprisePoint EnterprisePoint is an AI-enabled platform for rapidly building document-based business applications, combining BPMN process modelling, advanced forms, and robust, semantic search with Retrieval-Augmented Generation (RAG) to digitize and automate complex workflows with speed and flexibility. It integrates seamlessly with a wide range of document repositories-including OfficePoint, ABC eArchive, SharePoint, Alfresco, Documentum, and FileNet-as well as other third-party orstom repositories via standardized integration interfaces, enabling organizations to unify processes, search, and user experience across diverse systems without replacing existing repositories.

OfficePoint OfficePoint is an Enterprise Document and Records Management System (EDRMS) for secure management of digital and physical records across their entire lifecycle. Certified to ISO 15489, it ensures structured records governance through metadata, versioning, access control, retention policies, audit trails, and AI-assisted semantic search (RAG).

The solution supports electronic signatures and optional integration with SecureSign. OfficePoint works with multiple document storage platforms-including Microsoft SharePoint, Azure Blob Storage, Amazon S3/MinIO, FileNet, Alfresco, and others-while maintaining unified governance. With SharePoint, it enables native integration and real-time collaborative editing. In addition, OfficePoint supports enterprise-grade management of physical archives, including paper documents and storage locations.

BoardPoint BoardPoint is a digital platform for managing board and committee meetings and decision-making processes end to end. It supports agenda preparation, document distribution, approvals, decision tracking, and task follow-up, ensuring transparent and efficient governance. Built on Microsoft SharePoint, BoardPoint enables secure collaboration, AI-assisted semantic search (RAG), electronic signatures, and fully paperless, compliant board operations across devices.

CapturePoint

ASEE Flow

CapturePoint (formerly Docs4ECM) is a unified document capture and input management platform that automates the intake, classification, OCR, and AI-based data extraction of paper and digital documents from multiple channels. With modular deployment options and low-code configuration, it standardizes document intake, improves efficiency, reduces costs, and seamlessly integrates with business systems and repositories.

ASEE Flow is an enterprise BPM platform based on an extended Camunda 7 engine, providing BPMN and DMN execution across ASEE solutions. It introduces a modern React-based administration interface and can fully replace Camunda 7 Community Edition without impacting existing models, ensuring improved usability and longterm maintainability

Customer Service Management Solution

Live Live is an advanced omnichannel customer service management platform that helps companies around the world increase profitability by optimizing and automating internal and external communications and processes, enabling customers to actively engage with the company's brand. It integrates various technologies and modules that are part of standard omni-channel systems for communication and customer relations (Omni-Channel Contact Center, Customer Engagement). Thanks to the seamless integration with CRM and internal IT systems, the organisation provides a 360 degrees customer image that takes into account all channels of interaction with the customer.

ERP

Fidelity Fidelity is a complete ERP solution for product lifecycle management for different asset groups, aimed primarily at large organisations with a distributed structure. It is a unique solution on the market due to the comprehensiveness of its modules which support all the needs of wealth and expense management and offer, among others, budget control, purchasing and expense analysis, as well as traditional ERP functions such as inventory management.

Leasing Solutions

LeaseFlex Leasing and Asset Management Solution

LeaseFlex is software dedicated to managing financial products of individuals and hardware assets, built around an online platform. This solution enables financial service providers to maximize the efficiency of operational management and monitoring through the use of a centralised platform for operational process management and life cycle management of leasing products and assets.

Individual Financial Services FinanceFlex is a scalable solution for car finance companies, improving their regulatory compliance, operational efficiency and company-wide performance. FinanceFlex offers additional modules for suppliers and sales channels for financial service providers who work with individual customers, to speed up the processes of loan quotation and approval.

AI/Machine Learning Solutions

Customer 360 Customer 360 is a modular AI platform designed to place your customers at the center of attention by consolidating all audience data into a unified, 360-degree overview that empowers every department to make data-driven decisions and deliver superior customer experience. This all-around approach is seamlessly integrated through the Customer Hub, which centralize and optimize data with tools like Profile Studio and Segmentation Studio for precise profiling; the Marketing Hub, which automates multi-channel campaigns via Automation and Broadcast Studios to scale your reach effectively; the Personalization Hub, which leverages Touchpoint and Search Studios to provide AI-powered recommendations and hyper-accurate search results; and the Sales Hub, which simplifies sales processes and accelerates growth through Opportunity Studio and advanced pipeline reporting, ensuring every interaction is optimized for success.

Solver Atlas Data Lake Solver Atlas Data Lake is an enterprise data repository operating in cloud environment. The solution provides data storage functions via object-based storage, ETL, SQL engine and a reporting tool. In addition, it offers enterprise-grade security features such as RBAC and ABAC. Atlas also provides tools for AI/ML development and management.

Workforce Hub Workforce Hub is an enterprise Agentic AI platform that enables organizations to automate key processes by building digital employees tailored to specific business needs. With Workforce Hub, users can streamline workflows, enhance compliance, and scale operations using smart AI agents-all managed through a user-friendly dashboard. The platform features: Agent Builder - intuitive GUI for building role-specific digital employees, HQ (reporting & observability) - monitor performance, audit conversations, and ensure regulatory compliance with transparent reporting, Channels & backoffice integration - deploying agents on various channels, with seamless handover to human teams, model-agnostic AI brain - support for OpenAI, Gemini, Claude, LLaMA, local models, and more.

Smart Traffic Management Solutions

ITS Husky ITS Husky is an open and scalable SCADA software specifically designed to monitor and manage traffic and tunnels, using AI-based services to enhance transport safety. Thanks to the scalable, virtualised, cloud-based architecture, this solution can also be used in other areas, such as transport, oil/gas, energy, utilities, facility control, etc.

Smart City Solutions

SmartCity + Husky SmartCity + Husky is a modular SCADA software that combines urban infrastructure management and integration of technology keeping the social responsibility aspects in mind. This solution contributes to improving and

increasing the safety of city residents by reducing the number of accidents in public transport. The platform provides an embedded set of traffic industry policies for defining new control rules to create a full range of smart city services, including city information and safety management.

BEE Urban BEE Urban is a smart toll collection system for the transport industry, which also allowed supervising and managing public transport. The operation of the system is reliable for users, passengers as well as operators. It helps to optimize the functioning of public transport and the management of tunnels and urban roads, including the end-user billing.

Notary Management System (NISA) NISA is a solution for managing notarial office operations which ensures safe handling of all activities carried out by a notary. It increases security and convenience for both companies and customers who regularly use notary services. It covers a wide range of functionalities such as: generation and processing of notarial deeds and services, calculation of fees, electronic signatures, integration with systems of state institutions (land records, mortgage registry, etc.), requests for error corrections in notarial deeds, archiving, as well as accounting and finance.

Postal Services System Postal Services System enables the implementation of various postal and financial services in post offices, as well as creation and maintenance of customer accounts, comprehensive billing, etc. using digital technology. The solution is also a backend system for virtual mail platforms such as e-post, e-commerce and e-wallet. The system supports the following postal services: task processing from mail receipt to delivery, postal service charges, pricelist management, parcel transport management, customs support, integration with e-commerce systems and third-party services related to information on postal events (IPS) and parcel tracking.

Platform X

Askep.net

Platform X is an ecosystem of applications dedicated to the public service sector. Built around a central software, this platform supports all business and operational processes of electricity suppliers, distribution network operators and municipal utilities (water, gas, heat, waste management and other public services) regardless of their size. The platform optimizes the operation and management of utilities, related data, billing and also legal proceedings, all within a single system (including contracting, customer management, smart meter management, billing, invoicing, payments, reminder and debt collection, market communication and a customer portal). Equipped with latest architecture, flexibility and ease of use, the platform is a next-generation operating system for public utilities operators and enables them to smoothly move around today's market.

Askep.net is a comprehensive SaaS solution for hospitals for more efficient collection, storage, management and transfer of patient medical records. This Hospital Information System (HIS) available in the cloud provides support to public and private healthcare institutions with such functionalities as: doctor appointment schedules, electronic medical records, laboratory service support and patient data tracking, thereby streamlining work and improving patient care.

The Payment Solutions segment includes end-to-end solutions supporting online payment processing as well as offline payment channels for both financial and non-financial institutions. The solutions are offered by Payten Group. These are solutions for e-commerce (online payment gateways, support for alternative payment methods - cryptocurrencies, QR codes, solutions enabling card tokenisation, subscription payments), mobile payments (mPOS, vPOS, SoftPOS), Android POS payments, payment card processing and services related to ATMs and EFT POS payment terminals. The Group provides software and services, as well as ATMs and payment terminals, also in device outsourcing models that enabling customers to rent hardware and take advantage of maintenance and infrastructure management services. This segment also operates independent ATM networks operating under the MoneyGet brand. In addition, the Group has a network of independent EFT POS payment terminals used in merchant outlets - this IPD service under the Monri brand enables merchants to, instead of multiple EFT payment terminals at the point-of-sale, use only one device that is connected directly to multiple billing centres (card issuers). In addition, the segment offers complementary solutions for creating online and mobile stores and marketplace platforms, and for merchant outlets - cash register management and sales support systems (ECR).

ATMs and POS terminals

• installation

• maintenance

• replacement

  The Payten service network, with more than 100 service centers, means the highest level of service quality. In Southeast Europe, the Group successfully maintains 10,000 ATMs, cashier machines (ATS) and information kiosks, as well as more than 1 million POS terminals. It constantly upgrades and improves the functionality of self-service devices installed in this part of Europe, following the latest global trends and investing significant resources in R&D (monthly bill payments, recycling fees, automatic currency exchange, card top-ups, mCash

  24/7 Service Centre mobile payments, etc.). Outsourcing is one of its priorities as Payten strives to maintain long-term contracts with customers, while also reducing their operating costs.

  Multi-provider Solutions at ATMs and POS Terminals

  Card Payment Processing Card Payment Processing Center. Payten provides support across all aspects of card transaction processing. Customers are offered high-level service, knowledge and experience of our experts, comprehensive solutions, and advice related to credit card use. The processing service includes: Transaction Processing & Switching Services, Card Issuance & Hosting Services, Authorisation Services at ATMs and POS Terminals, Authentication Solutions, and Customer Service Center Services.

  Mobile payments:

  -mPOS

  mPOS is one of the latest generation of smart and interactive mobile POS solutions for card payments. This integrated mobile payment solution allows merchants to use their smartphone as a mobile POS terminal that fully supports PIN-based transactions (including EMV chip cards), reducing the cost of starting a business and minimizing the need for hardware. In addition, this system provides merchants with additional services related to payment acceptance, for example a certain level of app customisation and transaction confirmation, branding, asset management, and online preview of transaction history.

  E-commerce:

• NestPay® virtual terminal

  NestPay® is a B2C platform, called a payment gateway, supporting online card payments between merchants and banks that authorise transactions. NestPay® allows banks to offer card acceptance services through online retailers. Financial institutions offering online payment services can use NestPay ® as a service provided by Payten, using PCI-DSS compliant infrastructure. The NestPay ® technology allows banks to seamlessly enter the payments market without having to physically use a card (Card Not Present). The solution supports technology that is based on containers and Kubernetes in a microservice architecture with extended resilience.

  Trides2 Trides2 is a complete 3-D security solution dedicated to payment card issuing institutions as well as transactions authorisation and settling institutions that seek lower risk of fraudulent electronic transactions, using the globally used 3-D Secure standard. The solution involves ACS, 3DS Server, Directory Server and a comprehensive test tools. With the new EMV® 3-D Secure Protocol, Trides2 provides enhanced Strong Customer Authentication methods such as biometrics, separate transaction authentication, transaction risk analysis as well as risk-based authentication to enhance customer satisfaction and transaction security.

  ATM Software

  TermHost

  TermHost allows certain value-added services in addition to the standard set of ATM transactions. It enables banks to gain new sources of income from ATMs, at the same time making card owners more comfortable using them. TermHost allows seamless ATM integration with the other multi-channel banking channels, making the ATM a modern point of access to a variety of banking functionalities. It allows offering transactions that are otherwise unavailable in the case of the rigid obsolete NDC ATM protocol. Currently, we offer the following TermHost functionalities, depending on the choice of modules: Campaigns, Personalized User Experience, mCash (mobile cash withdrawal), internal transactions authorised by the bank (not by an authorisation and settlement center), and many others.

  POS Terminal Software

  PayPro

  PayPro is an application for EFT POS terminals supporting card payment at retailer POS, such as Visa, Mastercard, American Express and others. It works with different terminal models from different manufacturers, therefore offering banks and merchants the same user experience across different devices and reducing the time to market for new products on these devices. We also monitor official regulatory recommendations on an ongoing basis and improve the software functionality to provide the highest level of security in the service.

  Android POS The new generation of POS terminals based on the Android platform opens up space for various non-payment applications that can create the perfect ecosystem for merchants. Part of the solution is an Android-based payment application that supports all card issuers (VISA, Mastercard, Amex, UPI) and offers added features such as Dynamic Currency Exchange (DCC), MC instalment plans, cashback purchase, ECR cash register connection, etc. The Android POS terminal management system, which includes MDM, provides a wide range of possibilities for full monitoring and management of the terminal network. An all-in-one device with payment, checkout, location, loyalty, or any other Android sales apps, providing options well known to the end user, brings a whole new user experience.

  Instant POS Payments This solution provides added value to the standard instant-payment system, enabling the use of instant payments at points of sale. For retail outlets, this warrants that payments are made and customers have funds, while for customers it provides the convenience stemming from, among others, no need to carry cash or card but only a mobile phone.

  UNAC UNAC is a NAC-class system used to redirect payments directly to the payer's bank. It is a reliable, secure, easy to set up and manage trading network platform. It has been specifically designed and optimised to process a large number of simultaneous transactions, making it ideal for high transaction traffic networks. UNAC combines and offers the best NAC-class systems while eliminating their shortcomings.

  MoneyGet MoneyGet is a network of almost 400 independent (from financial institutions) ATMs owned by Payten. The network has been developing in Central and Eastern Europe and today covers Croatia, Serbia, Montenegro and Albania. MoneyGet ATMs are located in the most convenient locations - near supermarkets, city centers, tourist attractions, beaches, etc. MoneyGet ATMs provide cash and other financial services (checking balance, account statement, cardless withdrawal via QR codes) to local and foreign customers, because it supports Visa and Mas-terCard systems. DCC (Dynamic Currency Conversion) makes ATMs able to offer cash withdrawal to foreign customers based on a known currency exchange rate so that the customer's account is debited in their local currency and in the amount that is displayed on the ATM screen during the transaction. Thanks to DCC, foreign customers are not exposed to an unknown exchange rate of their bank.

  PFS

  Payten Fintech Suite

  Payten Fintech Suite is a modular, regulatory-compliant financial infrastructure for Payment and Electronic Money Institutions. It accelerates market entry and ensures end-to-end compliance through three core modules: Payment Facilitator Module: Digital acquiring, merchant onboarding, smart routing, commission management, and advanced payment orchestration. E-Wallet Module: Complete wallet infrastructure with mobile apps, transfers, loyalty, limits, and back-office management. Third-Party Integrations Module: Seamless integration with fraud, AML, KYC, BNPL, APMs, POS, Open Banking, and compliance services.

  NeuX NeuX is an advanced neobanking platform tailored to the needs of micro, small and mid-sized enterprises, corporations and B2B contractors. It offers comprehensive features such as purchasing and sales management, inventory control, and efficient payment processing, all accessible through an intuitive user dashboard. NeuX enables digital transformation of company operations, enhanced efficiency and more efficient workflow management, hence supporting their growth and improving their financial management.

  Non-financial Solutions Payten offers many solutions for merchants' outlets. The highly competitive e-commerce market requires retail outlets to adapt quickly and act safely. In addition, merchants sign agreements for virtual POS terminals with many banks, making it difficult to manage payment processes, as electronic payments are an alternative channel to traditional systems. Moreover, another key issue is to ensure the security of important customer data.

  Switching & Tokenisation:

• Payten Payment Gateway

  Payten Payment Gateway is a solution that allows merchants to remotely collect payments from various banks, featuring a payment card tokenisation service that reduces the risk for merchants, as well as switching. Switching redirects a transaction to the most suitable bank with the lowest commission or to the next available bank in case of a declined transaction, without detriment to the level of user satisfaction. Tokenisation provides both buyers and sellers with a secure, easy and convenient way to make payments from a variety of access points, including the Internet, ERP systems, CRM systems, and email. In addition, it offers a quick payment feature called one-click payment, by storing card information in a secure PCI-DSS compliant environment and eliminating the need to re-enter card details during future purchases.

  In addition to card payments, Payten Payment Gateway supports trader credit (BNPL), wire transfer payments, recurring payments, PaybyLink, and some local bank eWallet applications. This wide range of payment methods offers customers the flexibility to choose their preferred payment option and provides businesses with a payment infrastructure capable of meeting all types of customer needs.

  In addition, Payten Payment Gateway is offered as a B2B online payment solution for companies with a network of dealers, suppliers and merchants. Payten Payment Gateway for dealership network management allows the central company to collect payments from its dealers, and dealers to accept payments from their customers.

  Payment Support:

• Paratika Online Payment Operator Acting as an online payment operator, Paratika provides an electronic payment solution that allows retail outlets to accept online payments from multiple banks, as well as store card details for future payments in a PCI-DSS compliant environment. Paratika is equipped with card token technology which makes it easier for card holders to make subsequent payments in the future. In addition, a quick payment feature called one-click payment provides cardholders with a secure, easy and convenient payment experience.

WebPay WebPay is a PCI DSS Level 1 compliant online payment solution that enables merchants across EU member states and selected regional markets to accept digital payments through a single integration. It supports multiple acquiring banks, multiple currencies, and additional payment methods such as Aircash, KEKS Pay, Google Pay, Apple Pay, and IPS, operating in a secure EU-hosted environment. The solution provides features including card-on-file tokenization, pay-by-link, lightbox and component-based payment forms, Android and iOS SDKs, realtime transaction monitoring, reporting, and alarm notifications. WebPay also offers ready-made plugins for leading e-commerce platforms such as WordPress, Magento, WooCommerce, PrestaShop, and OpenCart.

IfthenPay Payment Gateway Acting as a Payment Institution with a banking license, IfthenPay offers an omnichannel payment gateway integrated with multiple ERP systems, e-commerce platforms and invoicing software. Merchants can easily receive payments for their products and services, whether in e-commerce, invoice sales, or sales at local retail outlets. All payment management operations, such as payment verification, pay-by-link token generation, QR codes and statistics, are performed on one platform via BackOffice and the mobile app. With real-time notifications and a user-friendly interface, this solution makes the service easy to use.

SinglePOS SinglePOS is a payment service that enables merchants to replace multiple EFT POS terminals with a single device connected to multiple acquirers. It dynamically selects the most cost-efficient acquiring route, allowing merchants to consistently use the lowest available transaction fee. Integrated with ECR systems, SinglePOS streamlines checkout by eliminating manual cashier input on EFT POS terminals, reducing errors and improving customer experience. Merchants gain real-time visibility into transactions through a dedicated Merchant Portal and benefit from support for instalments, loyalty programs, tokenization, DCC, instant payments, mobile top-ups, and customized reporting, including accounting system integration. In addition to traditional POS hardware, SinglePOS is available as an MPOC-certified SoftPOS solution, enabling secure contactless card acceptance directly on smart devices.

eCommerce Platform eCommerce Platform is available in two plan options. StartUP (eShopTen) is designed for start-up companies and based on a monthly/annual subscription, with a multi-level pricing strategy combined with the advantages of additional and cross-selling options. Premium is the second license-based option that is dedicated to well-established companies. It is divided into specific products tailored to market needs: Omnichannel B2C Retail, B2C Online Pharmacy, Portal for B2B distribution companies, mobile apps and a marketplace solution. Advanced single-core technology and modules designed for specific niches ensure a very short time to market. On average, it takes less than 2 months from the concept to the first order.

ECR In the ECR business line, Payten provides micro and small enterprises with hardware and software designed to enable and support the sale of products at all POS types. Payten's hospitality solutions support all business processes such as guest orders, kitchen orders, kitchen management, inventory control, invoicing, and reporting. ECR solutions enable integration with other products offered by Payten, including POS, mobile payments, e-Commerce loyalty programs, as well as third-party solutions such as various ERP, PMS, BS systems.

Aassan Aasaan is a payment solution that allows businesses to offer seamless one-click payments, which increases customer satisfaction and conversion rates. By simplifying the payment process, Aasaan reduces the number of cart cancellations and encourages re-purchases, contributing to increased sales and customer loyalty.

WeoInvoice Web-based invoicing solution offered in the SaaS (Software as a Service) model provides retailers with a simple and intuitive tool for handling daily invoicing with the option of direct payment to end customers. This solution has been certified by the Portuguese Tax Authority since 2011 and meets all regulatory requirements.

Monri ECR Monri ECR delivers modular software for micro and small to medium-sized merchants, designed to support sales across all relevant points of sale. The solution operates on both Windows and Android platforms, enabling merchants to choose between traditional POS workstations, all-in-one terminals, mobile devices, and self-ordering

kiosks, depending on their operational needs. With a strong focus on the hospitality industry, Monri ECR covers the full operational flow - from order taking and kitchen management to inventory control, billing, and reporting. Monri ECR is natively integrated with Monri payment services, POS, loyalty and eCommerce solutions, as well as selected third-party systems such as ERP and PMS platforms.

Fawaterak Fawaterak payment gateway is a B2C online card payment platform that processes payments between merchants and acquirer banks. Fawaterak is designed to enable banks to offer card acquiring services to their web merchants using its PCI DSS certified environment. Fawaterak solution offered software as a service provided by Payten, Solution supports container-based technologies in a microservices architecture with extended resil-iency. Also we offer API integrations to all systems and ready on plugins for ecommerce platforms like shopify, woocommerce, open cart etc. Also we offer microCRM for merchants to make payments and create payment links (Invoices, Product link, Payment pages).

Financial Gateway (FG) - Unified Platform for Financial Transaction Processing

Financial Gateway (FG) is a unified platform for managing and orchestrating financial transaction flows across diverse financial ecosystems. It acts as a central integration layer between core banking systems and multiple financial networks, enabling secure, reliable, and bidirectional transaction processing. FG supports integration with major financial infrastructures, including SWIFT, SEPA, ACH, RTGS, Instant Payment systems, and other processing networks through dedicated, network-specific connector modules. These native connectors handle protocol management, message exchange, and network-specific processing, ensuring flexibility and scalability as business needs evolve. A core design principle of FG is native ISO 20022 support. The platform natively processes ISO 20022 messages and provides advanced message transformation capabilities, enabling conversion between legacy formats and the ISO 20022 standard. By unifying transaction processing, standardizing messaging, and simplifying integrations, Financial Gateway helps financial institutions reduce complexity, ensure regulatory compliance, and accelerate adoption of modern payment and messaging standards.

1. 1. ‌Company and Group Trading Markets

      ASEE S.A. generates dividend revenue from subsidiaries as well as from the sale of business and technical support services to subsidiaries. These revenues are realised in countries where the Company has investments.

      ASEE S.A. also generates revenue from the sale of services and software related to voice systems, and from the sale of software, services and equipment to the banking sector. Revenue from service and product sales

      Asseco South Eastern Europe Group operates in several regions: Southeast Europe (Albania, Bosnia and Herzegovina, Bulgaria, Croatia, Montenegro, Kosovo, North Macedonia, Moldova, Serbia, Slovenia, Turkey), Central Europe (Czech Republic, Poland, Slovakia, Romania, Ukraine), Western Europe (Spain, Portugal, Andorra), South America (Dominican Republic, Colombia, Peru), Middle East and Africa (United Arab Emirates and Egypt), and APAC (India).

      Southeast Europe

      In Southeast Europe, the Group operates mainly in Serbia, Croatia, Turkey, Bosnia and Herzegovina, and North Macedonia. In other markets, gradual expansion is planned in the scale of operations through implementation of a full product offer from all operating segments.

      Three of the regional countries, Slovenia, Bulgaria and Croatia, are members of the European Union. Other countries are at different stages of applying for membership of the European Union. Slovenia and Croatia are also members of the Eurozone, while Bulgaria joined the Eurozone on 1 January 2026.

      The following are the basic statistics for the Southeast Europe markets in which ASEE Group operates:

      	Population	GDP in 2025	GDP growth in 2025	GDP growth forecast in 2026	Inflation rate in 2025	Unemployment rate in 2025
      	(mn)	(bn USD)	(% yearly)	(% yearly)	(% yearly)	(%)
      Albania	2.7	29.9	3.4	3.6	2.7	8.7
      Bosnia and Herzegovina	3.4	33.2	2.4	2.9	3.2	12.6
      Bulgaria	6.3	127.4	3.0	2.7	4.0	3.5
      Croatia	3.9	103.9	3.1	2.6	3.8	5.0
      Kosovo	1.6	12.7	3.9	4.0	4.1	10.5
      Moldova	2.4	19.6	1.7	2.8	6.2	3.5
      Montenegro	0.6	9.4	3.2	2.9	5.0	9.5
      North Macedonia	1.8	18.8	3.4	3.4	3.5	12.8
      Serbia	6.5	100.0	2.4	3.8	4.7	8.6
      Slovenia	2.1	79.2	1.1	2.5	2.8	3.8
      Turkey	86.0	1,565.5	3.5	3.1	31.0	8.3

      Source: International Monetary Fund, tradingeconomics.com

      Analysis of the population data and the gross domestic product shows that most of the countries in which ASEE operates are small markets with relatively low purchasing power. The exception is Turkey, where the population and GDP are higher than in all other covered countries of Southeast Europe combined. The second largest market in the region is Bulgaria.

      Data on real GDP changes published by the International Monetary Fund indicate that in 2025 the economies of most of the above countries developed at a similar pace as the year before. The exception is Montenegro with an increase of 1.2 p.p. and Serbia with a decrease of 1.5 p.p. Overall, the markets of Southeast Europe are heavily influenced by global macroeconomic trends which manifest themselves in the general increase in prices, interest rates, energy costs and the conflict in Ukraine. Currently, the International Monetary Fund predicts that up to 2029 GDP growth will be close to the level predicted for 2026. However, it is worth noting that these estimates are very variable, mainly due to the above trends in global macroeconomics. Assuming that the above forecasts are realized, the analysis of the 2026 order pipeline implies that ASEE Group's revenues in the next year will remain stable.

      In 2025, all the above countries recorded higher inflation compared to the previous year (2024), with the exception of Croatia (a decrease of 0.2 p.p.) and Turkey (a decrease of 29.9 p.p.). Taking into account the current inflation rates, in most of the countries already running or planning to apply for the EU membership, the inflation rate exceeds the inflation rate requirements under the Maastricht Treaty. In the case of Turkey, the inflation rate is much higher than in other countries, amounting to 31.0% per year. According to data published by the International Monetary Fund, in 2024 inflation was 60.9%, which means a decrease in inflation between 2025 and 2024 by almost 30 p.p. The IMF forecasts for the next years show a downward trend in the level of inflation in Turkey (21% in 2026 and 18% in 2027), i.e. a continuation of the trend from 2025 and a reversal of trends from 2023-2024. The Board is closely monitoring developments and all macroeconomic indicators, and it is taking all available measures to mitigate the potential risks arising from the depreciation of the Turkish lira.

      As for the level of unemployment, it should be noted that it varies widely between countries, with the lowest unemployment rate in Bulgaria and Moldova - 3.5%, and the highest in North Macedonia - 12.8%. When comparing the data from 2024 and 2025, most countries did not notice any major changes in the level of unemployment. The exception is Montenegro with a decrease of 1.82 p.p.

      Central Europe

      For many years, ASEE Group has been operating in Romania (ASEE, Payten, Bithat and ContentSpeed, in all business lines -banking, payment solutions, dedicated solutions), and on a smaller scale in Poland where it offers customers services and software supporting customer communication channels and business processes (contact center). As a consequence of the SONET Group acquisition in September 2019, ASEE operations in Central Europe are also present in the Czech Republic and Slovakia. In these markets, ASEE Group offers payment technology services, including installation and maintenance as well as implementation of proprietary software for the POS terminal management. Another acquisition in 2024 of Askepnet increased the range of services offered both geographically (Ukraine) and product-wise (medical sector).

      Population GDP in 2025 GDP growth GDP growth fore- Inflation rate Unemployment in 2025 cast in 2026 in 2025 rate in 2025
      	(mn)	(bn USD)	(% yearly)	(% yearly)	(% yearly)	(%)
      Czech	10.9	383.4	2.3	2.2	2.4	2.5
      Poland	36.5	1,039.6	3.2	3.4	2.8	2.9
      Romania	18.8	422.5	1.0	1.5	8.5	5.9
      Slovakia	5.4	154.6	0.9	1.6	3.9	5.5
      Ukraine	32.9	209.7	2.0	2.0	9.0	11.6

      Source: International Monetary Fund

      The basic statistics for the Eastern Europe markets in which ASEE Group operates are presented above.

      The macroeconomic situation in Central Europe was shaped by the same factors as in other regions, and thus primarily impacted by global macroeconomic trends and the war in Ukraine. Romania, Slovakia and Ukraine recorded a decline in GDP growth (Romania by 0.9 p.p., Slovakia by 1.3 p.p. and Ukraine by 1 p.p.). Observing 2024-2029 forecasts that are based on IMF estimates, all these countries can expect an improvement in the economic situation. Poland and the Czech Republic recorded faster growth (Poland by 0.2 p.p., and the Czech Republic by 1.2 p.p.). Both countries can expect a deterioration in the economic situation.

      Analyzing the inflation data and forecasts, a similar trend is noticeable like in the case of Southeast Europe, namely slowing inflation and stabilizing prices.

      The unemployment rate for these countries in the region remains at a similar level as in 2024, and the forecasts of the International Monetary Fund indicate further stabilisation. The exception for this region is Ukraine, where there is a significant decrease in unemployment between 2024 and 2025 (from 14.2% to 11.6%). The next years are expected to bring a further decline down to the level of 8.5% in 2029.

      Western Europe

      ASEE Group started operations in Spain and Portugal with the Necomplus acquisition back in January 2019. Necomplus's core business in Spain and Portugal is POS terminal installation and maintenance, as well as BPO (call center) services. Necomplus also operates on a smaller scale in the area of POS terminal installation and maintenance in Andorra. Recent years have seen ASEE Group further develop its network of independent payment terminals in Portugal.

      The acquisitions of Ifthenpay and WEO carried out in 2023 and 2024 increased the range of services offered in the region by e-commerce solutions that are offered directly to merchant outlets.

      The Sycket acquisition in 2025 increased the range of services offered by ECR solutions.

      	Population	GDP in 2025	GDP growth in 2025	GDP growth fore- cast in 2026	Inflation rate in 2025	Unemployment rate in 2025
      	(mn)	(bn USD)	(% yearly)	(% yearly)	(% yearly)	(%)
      Spain	49.7	1,891.4	2.9	2.1	2.1	10.8
      Portugal	10.8	337.9	1.9	2.0	2.1	6.4

      Source: International Monetary Fund

      The basic statistics for the Western Europe markets in which ASEE Group operates are presented above. In 2025, neither Spain nor Portugal recorded an increase in GDP growth year-on-year. Analysing the 2026-2029 outlook, growth rates are projected around 1.7%. The 2025 inflation rate exceeds the level allowed by the Maastricht Treaty criteria, but looking at the 2025-2029 forecast, inflation should fall to nearly 2% which would be in line with the Maastricht level. Based on IMF data, the unemployment rate will not change significantly in 2026-2029.

      South America

      As with Western Europe, ASEE Group started operations in South America with the Necomplus acquisition. The Spanish company, through its subsidiaries, offers POS terminal installation and maintenance to customers in Colombia, the Dominican Republic and Peru, and BPO services in Peru and Colombia, as well as independent payment terminals in the Dominican Republic.

      The following are the basic statistics for the South America markets in which ASEE Group operates:

      	Population	GDP growth	GDP growth	GDP growth forecast	Inflation rate	Unemployment rate
      	(mn)	in 2025 (bn USD)	in 2025 (% yearly)	in 2026 (% yearly)	in 2025 (% yearly)	in 2025 (%)
      Colombia	53.1	438.1	2.5	3.1	4.4	10.0
      Dominican Rep.	10.9	129.7	3.0	3.2	3.7	5.3
      Peru	34.4	318.5	2.9	3.0	2.0	6.5

      Source: International Monetary Fund

      Among South American countries, only Colombia recorded an increase in GDP growth compared to the previous year. The largest decrease was recorded by the Dominican Republic - 2.1 p.p. According to the IMF forecasts for the coming years, improvement can be expected in the economic situation for all countries of the region.

      As with the previous regions, inflation in South America was lower in 2025 compared to 2024, with the exception of the Dominican Republic. The largest decrease can be observed in Colombia (by 2.3 p.p.). The IMF forecast predicts a further decline down to around 3%.

      Unemployment rates for both 2025 and the IMF 2026-2029 outlook show no significant changes for South American countries

      Middle East & Africa and APAC

      ASEE Group started operations in these two regions with the acquisition of the Touras group of companies in July 2024. The main business area of the group is payment solutions for e-commerce that are offered directly to merchant outlets and payment institutions. These acquisitions have continued Payten's growth into new markets. ASEE Group also operates on a smaller scale in the area of dedicated solutions in Egypt.

      	Population	GDP growth	GDP growth	GDP growth fore-	Inflation rate	Unemployment
      		in 2025	in 2025	cast in 2026	in 2025	rate in 2025
      	(mn)	(bn USD)	(% yearly)	(% yearly)	(% yearly)	(%)
      India	1,463.9	4,125.2	6.6	7.4	3.3	4.9
      United Arab	11.1	569.1	4.8	3.1	1.6	2.2
      Emirates

      Source: International Monetary Fund, tradingeconomics.com

      Unlike most European countries, India has been experiencing a decline in GDP growth. According to IMF's forecast for 2026-2029, this decline is expected to stop in 2027. The United Arab Emirates, on the other hand, is expected to decline down to 4.3% in 2026-2029, according to the IMF forecast.

      The inflation rate for India dropped, as in the previous year, to 3.3%. IMF predicts growth in 2026, followed up by stabilisation in 2027-2029 at 4%. In the United Arab Emirates, the situation in 2025 is similar, with a decline by 0.7 p.p. Inflation is expected to stabilize at 2.0% in 2026-2029.

      The unemployment rate in India fell significantly from the previous year (by 3.4 p.p.) and is expected to remain at this level until 2029. In the United Arab Emirates, the unemployment rate fell by 0.7 p.p. in 2025. IMF predicts its rise in 2027 (up to 2.7%) and then a period of stabilisation.

      The Board of ASEE has set a strategic objective which aims to increase the sales of the Group's solutions also outside the regions described above. In countries where ASEE Group is not present through its subsidiaries, the Board wants to generate sales and implement projects with the support of local partners. In recent years, the Group has implemented projects in Austria, Panama, Italy, Hungary, France, and the United Kingdom, to name a few. In 2026, the Board plans to continue its sales activity in markets where ASEE subsidiaries do not yet exist, focusing on North Africa, the Middle East and South America.

      As mentioned above, the Group operates in several regions, with the most important ASEE operations still situated in Southeast Europe. In the remaining regions its activity results from acquisitions carried out in 2019-2025 and, apart from revenues in the Spanish market (Western Europe), the revenue structure has not changed much for the entire Group. The acquisition of the Touras group (India and the United Arab Emirates) did not significantly affect the revenue structure. In 2025, in the Southeast European market, there was no major change in the revenue structure, with the biggest change being the increase in Turkey's share by 5 p.p., counterbalanced mainly by Serbia. In Central and Western Europe, the revenue structure remained similar to the previous year. In South America, Colombia's share fell by 4.3 p.p., counterbalanced mainly by the Dominican Republic. The largest change in the revenue structure took place in Middle East, Africa & APAC - the share of the United Arab Emirates fell by 7 p.p., counterbalanced by Egypt.

      The 2025 sales structure by customer location was as follows:

      • Southeast Europe 69.6% (including Serbia 24%; Croatia 14%; Bosnia and Herzegovina 12%, Turkey 10%; Macedonia 5%; Albania 2%; Bulgaria, Kosovo, Montenegro and Slovenia 1% each),

      • Central Europe 13.5% (including Romania 11%)

      • Western Europe 11.4% (including Spain 9%),

      • South America 2.4%,

      • Other countries where ASEE is not present through its subsidiaries 2.9%,

      • Middle East, Africa & APAC 0.3%.

      The Group did not have any customer whose individual sales would exceed 10% of total sales revenue realised by the Group in the year ended on 31 December 2025.

      In most regions operated by ASEE, the Group companies have their own suppliers in the respective countries, which is why the Group is not significantly dependent on any single supplier. In the Payment Solutions segment, the Payten Group cooperates primarily with Diebold Nixdorf in the supply of ATMs, and with Ingenico and Castles in the supply of payment terminals. In the Solutions segment, among ASEE's significant suppliers there are Microsoft, with its products offered by ASEE primarily in Romania, as well as Cisco, with its solutions mainly used in Serbia and Macedonia.

   2. ‌Significant Agreements of the Company and the Group

      Contracts significant for the Group's operations that were signed during 2025 are presented below in a breakdown to indi-

      vidual operating segments:

      Banking solutions:

      • InACT External Fraud projects at six banks and two payment institutions, including a bank in the Netherlands, a bank in Romania, and a payment institution in Slovakia,

      • The first implementation of the InACT Application Fraud solution at Türkiye's only private, domestically owned participation bank with a branch network, Dünya Katılım Bankası,

      • Security tokens software for large banks in Croatia and central state owned financial agency in Croatia,

      • Multifactor authentication solution for leading banks in Croatia and Bulgaria, state - owned bank in Romania, well-established nationwide banking group in Italy, and a subsidiary of the leading banking group in Croatia,

      • PKI VAS for large banks in Croatia and for a Croatian financial agency,

      • Adaptive elements for leading banks in Croatia, Croatian financial agency, a subsidiary of a leading banking group, an IT service company from Croatia and one of largest banks in Hungary,

      • Tezauri solution for a big bank in Croatia,

      • PUB2000 Payment, Experience Branch, Digital Edge Web, Digital Edge HUB for a big bank in Croatia,

      • Basel III and IFRS 9 regulatory solutions - implementation of regulatory compliance and risk automation solutions for Yettel bank in Serbia,

      • App Protector mobile security solution - implementation of RASP SDK to secure mobile banking application for NLB Komercijalna bank in Serbia,

      • SWIFT ISO 20022 - Financial Gateway - partnership established for implementation of the SWIFT ISO 20022 Financial Gateway solution across four Balkan countries for Addiko Bank Group,

      • Financial Gateway SEPA - Financial Gateway - implementation of SEPA Financial Gateway solution for three banks in Montenegro,

      • SWIFT - Financial Gateway - implementation of SWIFT Financial Gateway solution for five banks in Bosnia and Herzegovina,

      • Core banking and digital onboarding solutions - implementation of PUB2000 Core, bApO Core, Digital CIF and Digital Origination solutions for AIK Bank in Serbia,

      • Open Banking Platform - implementation of Open Banking solution for a NLB Kompercijalna bank in Serbia,

      • • SWIFT, SEPA - Financial Gateway and AML integration - implementation of SWIFT and SEPA Financial Gateway solutions with AML integration for Addiko bank in Montenegro.

        Dedicated solutions:

      • CapturePoint solution for two large banks in Croatia Bosnia and Herzegovina,

      • OfficePoint solution for a large transport company and leading insurance company in Croatia, for leading Hungarian financial institution providing banking services across CEE, largest bank iz Slovenia, large bank and regulatory financial institution in Croatia,

      • BoardPoint solution for a large bank, big transport company and energy company in Croatia,

      • EnterprisePoint solution for a big bank in Croatia,

      • FieldWork 4 for a gas company in Croatia,

      • Live 3.0. migration for leading bank in Croatia,

      • Live Contact Center solution for Export Development Bank of Egypt,

      • Live Nova for the administrative and self-governing capital institution of Croatia and a large insurance company in Croatia,

      • Dynatrace Application Performance Management projects at two insurance companies, three banks, two investment companies, two information technology companies, and an e-commerce company,

      • LeaseFlex projects at two leasing companies, including a newly established leasing subsidiary of Türkiye's leading

        state-owned bank and a private-sector leasing company,

      • Genesys Engage solution at a leading bank,

      • ASEE 3D Secure IVR project at one of Türkiye's leading energy distribution companies,

      • IT infrastructure virtualization and modernization - delivery of VMware licenses, virtualization capacity support and Dell IT equipment for infrastructure modernization for Halk bank in Serbia,

      • IT security infrastructure modernization - delivery of IT security equipment with Palo Alto technology for British American Tobacco in Serbia,

      • Data storage and server infrastructure modernization - delivery and implementation of Dell storage and server solutions for Srpska bank in Serbia,

      • Core information system upgrade - implementation of new functionalities and upgrade of the core information system within Ministry of Finance in Serbia,

      • Enterprise content management and DMS implementation - delivery and implementation of Dell storage, servers

        and Hitachi Content Platform with ABC Archive DMS solution for Poštanska štedionica bank in Serbia,

      • IT infrastructure modernization with SLA services - delivery and implementation of Dell IT equipment with SLA services for Data Cloud Technology organization in Serbia,

      • Data protection and document classification system - implementation of data protection and document classification solution including licenses, implementation, support and training services for Elektroprivreda Srbije (EPS) in Serbia,

      • AML/CFT information system upgrade - implementation of AML/CFT software solution as part of the information system upgrade for Ministry of Finance in Serbia,

      • Online Customer Portal - development, expansion and maintenance of an online portal of Elektroprivreda Srbije (EPS) for individual and small commercial electricity customers, enabling secure access to billing, consumption data, payments, contracts and notifications, with integration into the production billing system,

      • • DMS and electronic archiving integration - integration of the existing Document Management System with an electronic archiving module for secure, automated and legally compliant document archiving for a regulatory authority in Serbia (RATEL - Regulatory Agency for Electronic Communications and Postal Services).

        Payment solutions:

        e-commerce & processing

        • 30 new enterprise PPG-Payten Payment Gateway clients onboarded across insurance, energy, car rental, tourism and e-commerce, including BEDA Energy, Emaa Sigorta and TatilBudur, extending Payten's reach to millions of end users annually,

        • Payten Fintech Suite selected by leading state-owned bank subsidiaries and new-generation fintechs, including VakıfPayS, ZiraatPay, QPAY, PMS Payment Institution and Paladyum Electronic Money Institution, supporting the rapid launch of licensed payment infrastructures across banking and fintech ecosystems,

        • 2,000+ new Paratika Virtual POS merchants from various industries, including a leading automotive services group, a global logistics provider, and a major retailer of musical instruments,

        • In-store Payments solution for one of the leading hotel chains in Croatia, Grand Hotel Lav, important publisher and book retailer chain Školska knjiga, one of leading pharmacy chains Ljekarne Švaljek, one of leading drugstore chains in Croatia BIPA d.o.o. (REWE), rent-a-car companies A-ANTICUS d.o.o. and VIATOR d.o.o., rent-a-car company and private hospital Specijalna bolnica Medico,

        • Online Paymets solution for DEKOD d.o.o, company specialised for ticketing and access control,

        • POS Sharing in-store payment solution at Auchan Romania,

        • Regulatory and risk solutions support - continuation of regulatory and risk automation solutions for a Yettel bank in Serbia,

        • ATM delivery and maintenance services - partnership renewal with Erste bank for ATM delivery, maintenance and related services through 2026 in Serbia,

        • Tap&Tip Android application - implementation of Tap&Tip Android application for direct tipping on POS devices in the catering sector for Unicredit Bank in Serbia,

        • ATM fleet modernization - renewal of CINEO Recycling ATMs with DN V series as part of ATM fleet modernization for Yettel Bank in Serbia,

        • UTMS/UNAC services and POS application - contract with a new client for UTMS/UNAC services and POS application implementation for Coris Bank in Chad,

        • Discover card acceptance - partnership established to enable Discover card acceptance on POS and ATM devices for Discover Financial Services in Serbia,

        • eCommerce security solutions - implementation of SMS card alarm and OTP TriDES solutions to enhance eCommerce

          security for Poštanska štedionica bank in Serbia,

        • Third-party processing services - implementation of card issuing, ATM acquiring, value-added and digital services for Capital Bank a.d. Skopje in North Macedonia.

          ATM & POS related services

        • Implementation of ATMs (160) for a bank in Romania (BCR - Romanian Commercial Bank),

        • ATM and cash recycling delivery - delivery and replacement of ATMs and cash recycling ATMs for three banks in Croatia and Bosnia and Herzegovina,

        • POS terminal delivery - delivery of EFT POS terminals to three banks in Croatia and Bosnia and Herzegovina,

        • Payment processing and issuing solution - implementation of Issuing Pay Process payment processing solution for OTP bank in Serbia,

        • ATM and CDS delivery - sale and delivery of ATMs and cash deposit safes for two banks in Bosnia and Herzegovina and North Macedonia,

        • Retail IT equipment delivery - sale and delivery of IT equipment for Lidl Makedonija DOOEL Skopje in North Macedonia,

        • Payment card production and delivery - sale and transport of Visa and MasterCard payment cards for Komercijalna Banka a.d. Skopje in North Macedonia,

        • SoftPOS market expansion - implementation of the first Payten SoftPOS solution on the Hungarian market for CIB Bank Zrt,

        • Field maintenance and support & maintenance service for 7,000 payment devices of Banco Montepío, one of Portu-

          gal's oldest banks,

        • Sale of loyalty solution for 1,000 payment devices of Grupo PIE Misericórdias Saúde, a Portuguese healthcare group,

        • Development of the payment solution for AZUL, merchant acquiring services and electronic payment solutions brand, subsidiary of Grupo Popular, one of the largest bank in the Dominican Republic,

        • Licensing of PI management solution as BBVA's Bank payment devices management fleet tool in Latin America (Peru,

          Argentina, and Mexico),

        • Terminal as a Service for BBVA Peru, covering the entire pinpad device fleet for the next 5 years,

        • Affiliate services for Davivienda, Colombia's second-largest bank,

        • Payment hardware sale to the venezuelan financial institution Banesco,

        • Field maintenance services for payment devices for the Dominican fintech MIO.

2. ‌FINANCIAL INFORMATION OF ASSECO SOUTH EASTERN EUROPE S.A.

   1. ‌Financial results of Asseco South Eastern Europe S.A.

      	12 months to	12 months to
      	31 December 2025	31 December 2024
      	PLN'000	PLN'000
      Dividend income	118,344	120,658
      Revenues from sale of services	27,468	27,195
      Cost of sales (-)	(20,681)	(22,954)
      Selling costs (-)	(376)	(645)
      General and administrative expenses (-)	(5,087)	(5,209)
      Operating profit	119,621	119,230
      Net profit for the reporting period	111,634	81,375

      In 2025, income from dividends received from subsidiaries decreased by PLN 2.3 million compared to the previous year. On the other hand, revenues from the sale of consultancy and support services provided to subsidiaries recorded an increase of PLN 3.8 million. Revenue from IT service sales decreased by PLN 3.6 million. The above changes had an impact on the operating profit of ASEE S.A., which increased from PLN 119.2 million in 2024 to PLN 119.6 million in 2025 (up by PLN 0.4 million). The profit for the reporting period increased from PLN 81.4 million in 2024 to PLN 111.6 million in 2025 (up by PLN 30.3 million), which is mainly due to lower costs of impairment losses on investments in subsidiaries in the current period (PLN 25.6 million less compared to 2024).

      31 December 2025

      31 December 2024

      31 December 2025

      31 December 2024

   2. ‌Structure of the statement of financial position of ASEE S.A.

      	PLN'000	PLN'000	Share in balance sheet sum (%)
      Non-current assets	708,868	672,704	92%	89%
      Property, plant and equipment, and intangible assets	866	950	0%	0%
      Right-of-use assets	-	216	0%	0%
      Investments in subsidiaries	641,515	647,115	83%	86%
      Long-term financial assets	62,087	20,080	8%	3%
      Other	4,400	4,343	1%	1%
      Current assets	60,178	80,980	8%	11%
      Trade receivables and prepayments	6,721	11,249	1%	1%
      Cash and bank deposits	30,698	34,025	4%	5%
      Short-term financial assets	21,628	11,706	3%	2%
      Other receivables	1,131	24,000	0%	3%
      TOTAL ASSETS	769,046	753,684	100%	100%

      The structure of ASEE S.A. assets is dominated by investments in subsidiaries. The value of the investment decreased compared to the previous year and was PLN 641.5 million as at 31 December 2025. The change in the investments was caused by the revaluation of ASEE Romania investment (-5.6 million PLN).

      Compared to 2024, long-term financial assets increased (by PLN 42.0 million), which is related to the loans granted to subsidiaries: Payten Holding (PLN 37.2 million), Payten Serbia (PLN 19.0 million), Payten Romania (PLN 5.1 million).

      The Structure of Liabilities and Equity

      31 December 2025

      31 December 2024

      31 December 2025

      31 December 2024

      PLN'000 PLN'000 Share in balance sheet sum (%)

      Equity 734,504 713,455 96% 95%

      Non-current liabilities 23,247 19,971 3% 3%

      Current liabilities 11,295 20,258 1% 3%

      TOTAL EQUITY AND LIABILITIES 769,046 753,684 100% 100%

      In the liabilities structure, the main item is equity which rose by PLN 21.0 million compared to the previous year.

      Long-term liabilities are borrowings from banks which in 2025 increased by PLN 3.4 million and at the end of 2025 were at PLN 23.2 million (PLN 19.9 million in 2024). Their description can be found in section 5.10 of the Notes to the 2025 Annual Financial Statements of the Company.

      In 2025, short-term liabilities decreased by PLN 9.0 million compared to 2024 and were PLN 11.3 million as at 31 December 2025. Borrowings (bank loans) decreased by PLN 3.5 million, trade liabilities by PLN 0.3 million, liabilities under customer contracts by PLN 2.6 million, public sector liabilities by PLN 1.1 million, and accruals by PLN 1.3 million.

   3. ‌Structure of Cash Flow

      	12 months to	12 months to
      	31 December 2025 PLN'000	31 December 2024 PLN'000
      Net cash flows from operating activities	139,858	108,141
      Net cash flows from investing activities	(51,317)	(7,532)
      Net cash flows from financing activities	(91,868)	(95,945)
      Net change in cash and cash equivalents	(3,327)	4,664
      Cash and cash equivalents at the end of the period	30,698	34,025

      Due to the holding nature of the Company's business, cash flows from operating activities include, among others, dividends received and inflows/outflows related to the divestment/acquisition of subsidiaries.

      The value of operating activity flows in 2025 was PLN 139.9 million and increased by PLN 31.7 million compared to the previous year. Dividends received from subsidiaries were PLN 138.7 million in the current year and increased by PLN 28.4 million compared to the previous year.

      Cash flows from investing activities mainly include inflows and outflows related to loans granted to subsidiaries (final balance

      - PLN 53.1 million), as well as interest received on loans granted (PLN 1.9 million).

      Cash flows from financial activities result primarily from the dividends paid out to the ASEE Shareholders (PLN 90.8 million) as well as PLN 1.0 million of interest payments on loans granted.

   4. ‌Financial Ratio Analysis

      Return Ratios
      	12 months to	12 months to
      	31 December 2025	31 December 2024
      	PLN'000	PLN'000
      Return on Equity (ROE)	15.4%	11.4%
      Return on Assets (ROA)	14.7%	10.7%
      The above indicators have been calculated according to the following formulas: Return on Equity = Reporting Period Profit/ Average Shareholders Equity Return on Assets = Reporting Period Profit/ Average Assets
      In 2025, ROE and ROA increased by 4.0 p.p. compared to 2024.
      Liquidity Ratios
      	12 months to	12 months to
      	31 December 2025	31 December 2024
      	PLN'000	PLN'000
      Working capital	48,883	60,722
      Current liquidity ratio	5.3	4.0
      Quick liquidity ratio	5.2	3.9
      Absolute liquidity ratio	2.7	1.7
      The above indicators have been calculated according to the following formulas: Working Capital = Current (short-term) Assets - Short-term Liabilities Current liquidity ratio = Current (short-term) Assets / Short-term Liabilities Quick liquidity ratio = (Current Assets - Inventories - Prepayments) / Short-term Liabilities Absolute liquidity ratio = (bonds and securities held to maturity + cash and short-deposits) / Short-term Liabilities

      The decrease in working capital as at 31 December 2025 compared to the end of last year is mainly related to the decrease in current assets, including mainly the overall balance of dividend receivables.

      The change in liquidity ratios was influenced by both a decrease in dividend receivables as well as short-term liabilities from borrowings and liabilities from customer contracts. However, short-term liabilities recorded greater declines than current assets, which has an impact on improving all liquidity ratios.

3. ‌FINANCIAL INFORMATION OF ASSECO SOUTH EASTERN EUROPE S.A.

   1. ‌Financial results of ASEE Group for Q4 2025

      	3 months to 31 December 2025	3 months to 31 December 2024	Change	3 months to 31 December 2025	3 months to 31 December 2024	Change
      	PLN'000	PLN'000	%	EUR'000	EUR'000	%
      Sales revenues	534,759	498,723	7%	126,157	115,738	9%
      Gross profit on sales	172,626	137,141	26%	40,729	31,829	28%
      Net profit on sales	108,362	71,342	52%	25,568	16,559	54%
      Operating profit	105,882	72,179	47%	24,983	16,753	49%
      EBITDA	133,268	95,656	39%	31,442	22,199	42%

      Net profit for the reporting period 63,580 60,040 6% 15,001 13,934 8%

      Net profit attributable to Shareholders of

      the Parent Company

      65,030

      58,302

      12%

      15,342

      13,530

      13%

      EBITDA = Operating profit + Depreciation + P.P.A

      ASEE Group's financial results in the fourth quarter of 2025 were significantly better than in the same period of the previous year. Sales revenue expressed in PLN was 534.8 million, up by 36 million (7%) compared to the fourth quarter of 2024. Operating profit was PLN 105.9 million (47% increase) while EBITDA for the fourth quarter of 2025 was PLN 133.3 million (39% increase). The difference in growth dynamics between revenues and subsequent margin levels is a derivative of the change in the revenue structure, in which revenues from the resale of equipment and third-party solutions decreased, and revenues from own services and the sale of proprietary software increased.

      The Group's financial results for the fourth quarter of 2025 were adjusted down by one-off non-cash events related to the activities of subsidiaries in India and the United Arab Emirates (UAE). The total impact of such events was:

      • Operating profit: EUR 0.6 million less

      • Reporting period profit: EUR 4.3 million less

      Certain one-off transactions lowered the results in the Payment Solutions segment, with the key ones being:

      1. Recognition of a provision for liabilities

      Recognition of provisions for tax liabilities and trade liabilities related to transactions prior 2025: -0.4 million EUR Allowance for intangible assets (PaymentGateway software)

      In connection with the decreased cash flows generated by the Payment Gateway software, which were recognised as part of the purchase price allocation (PPA), there was an impairment loss made at EUR -0.2 million (effect on operating profit) and EUR -0.1 million (effect on net profit).

      3. Goodwill impairment

      The goodwill resulting from the acquisition of these companies was written off. The total negative effect of these operations on net profit was -3.7 million EUR.

      Once the above one-off transactions are eliminated and the impact of hyperinflation adjusted fro, the results in the fourth quarter of 2025 are as follows:

      Figures adjusted for hyperinflation and one-off transactions	3 months to 31 December 2025	3 months to 31 December 2024	Change	3 months to 31 December 2025	3 months to 31 December 2024	Change
      	PLN'000	PLN'000	%	EUR'000	EUR'000	%
      Sales revenues	533,854	478,906	12%	125,944	111,135	13%
      Gross profit on sales	173,987	128,962	35%	41,051	29,929	37%
      Net profit on sales	109,619	65,871	66%	25,865	15,288	69%
      Operating profit	108,565	66,640	63%	25,615	15,466	66%
      EBITDA	134,501	88,858	51%	31,733	20,620	54%

      Net profit for the reporting period 80,068 66,678 20% 18,892 15,478 22%

      Net profit attributable to Shareholders of

      the Parent Company (adjusted)

      80,317

      64,984

      24%

      18,950

      15,085

      26%

      EBITDA = Operating profit + Depreciation + P.P.A

      The results after adjustments for the one-off transactions, expressed in EUR show an increase in revenues as well as improved profitability of ASEE Group thanks to the growing Dedicated Solutions segment as well as the Banking Solutions segment. This

      is described in more detail in the following sections, with the results of individual segments elaborated further. The Payment Solutions segment, even after adjusting for the impact of one-off transactions, recorded a slight decrease in results.

      The new ASEE Group companies, acquired in 2024 and 2025, impacted revenues by EUR -1.1 million year on year in the fourth quarter of 2025. Their financial results and the P.P.A amortisation lead to a drop in EBIT by -0.8 million EUR and in EBITDA by

      -0.8 million EUR. The negative impact mainly originated in the companies operating in India and the UAE.

      3 months to

      Effect

      Transac-

      tions

      3 months to

      3 months to

      Effect

      Transac-

      tions

      3 months to

      The effect of one-off transactions and adjustment for hyperinflation on the Group's results in the fourth quarter of 2025 is presented in the table below:

      	31 December 2025 According to IFRS	hyperin- flation	one-off	31 December 2025 adjusted	31 December 2025 According to IFRS	hyperin- flation	one-off	31 December 2025 adjusted
      	PLN'000	PLN'000	PLN'000	PLN'000	EUR'000	EUR'000	EUR'000	EUR'000
      Sales revenues	534,759	(905)	-	533,854	126,157	(213)	-	125,944
      Gross profit on sales	172,626	160	1,201	173,987	40,729	38	284	41,051
      Net profit on sales	108,362	56	1,201	109,619	25,568	13	284	25,865
      Operating profit	105,882	45	2,638	108,565	24,983	10	622	25,615
      EBITDA	133,268	(651)	1,884	134,501	31,442	(153)	444	31,733
      Net profit for the reporting pe- 63,580 (1,622) 18,110 80,068 15,001 (383) 4,274 18,892
      riod
      Net profit attributable to
      Shareholders of the Parent	65,030	(1,622)	16,909	80,317	15,342	(383)	3,991	18,950
      Company
      EBITDA = Operating profit + Depreciation + P.P.A

      For more detailed information on hyperinflation reporting, see Section 2.11 of the Consolidated Financial Statements.

      The results of individual segments, without the effect of hyperinflation, are described below. This approach is in line with the way the Board considers the segments. In addition, the described results were cleared of the effect of one-off events related to the Payment Solutions segment, described above.

      Payment Solutions segment results

      Payment Solutions

      3 months to

      31 December

      3 months to

      31 December

      3 months to

      31 December

      3 months to

      31 December

      2025	2024	Change	2025	2024	Change
      (excluding the effect of hyperinflation and one- PLN'000	PLN'000	%	EUR'000	EUR'000	%
      Sales revenues 224,189	225,914	-1%	52,885	52,420	1%
      Operating profit 33,363	36,702	-9%	7,868	8,514	-8%
      EBITDA 50,604	52,937	-4%	11,936	12,282	-3%

      off events)

      Payment Solutions revenue in the fourth quarter of 2025 was EUR 52.9 million, a slight increase of EUR 0.5 million (1%) compared to the same period last year. The revenue structure was also changing in the business lines. The eCommerce+Processing business lines recorded a decrease in revenue by EUR 1.9 million. This decrease was influenced by the revenues from payment gateway transactions (SaaS) of corporate clients in Turkey, related to the switching of a significant volume of transactions by two clients to their internal payment gateway systems. In addition, in the fourth quarter of the previous year, the UAE subsidiary provided payment gateway implementation services for a bank which did not repeat in the current year. In terms of the payment gateway service offered directly to retailers ('merchants'), companies in India recorded a significant decrease in revenue. These decreases were partially compensated by the increased revenue from the payment gateway offered directly to such merchants in Western Europe and Southeast Europe.

      Growth was also recorded in the business lines that directly address merchants and offer independent payment terminal networks (IPD) and cash registers (ECR), where revenue increased by EUR 1.5 million, mainly in Southeast Europe, and to a smaller extent also in Central Europe and Western Europe. Positive revenue dynamics (EUR 1.2 million increase) was recorded by the ATM sale and maintenance business line. Recurring BPO revenue as well as revenue from equipment supply and related installation services also increased. In terms of geography, the growth was observed mainly in Southeast Europe and to a smaller extent also in Central Europe.

      The decrease revenue described above also translated into lower operating profit of this segment, falling by EUR 0.6 million. However, the eCommerce+Processing business line recorded the highest drop in the result. It was lower by EUR 2.1 million, mainly due to Turkey, India and the UAE, related to the decreasing revenue that has been described above. The lower results were compensated for by the better performance of the business lines that address retail merchants directly and provide independent payment terminal networks (IPD) and cash registers (ECR), as well as by the improved performance of more traditional lines that provide POS terminal maintenance as well as ATM maintenance.

      In the Payment Solutions segment, consolidated EBITDA in the fourth quarter of 2025 was EUR 11.9 million, a decrease of EUR

      0.3 million. A smaller decrease in EBITDA compared to the decrease in operating profit is mainly due to higher depreciation costs of ATMs and POS terminals related to investments realised over the recent 12 months, offered in the outsourcing model, and depreciation/amortisation and allowances for assets that are recognised through P.P.A (purchase price allocation).

      Banking Solutions segment results

      Banking Solutions

      3 months to

      31 December

      3 months to

      31 December

      3 months to

      31 December

      3 months to

      31 December

      2025	2024	Change	2025	2024	Change
      (excluding the effect of hyperinflation and one-off PLN'000	PLN'000	%	EUR'000	EUR'000	%
      Sales revenues 89,882	78,637	14%	21,203	18,246	16%
      Operating profit 19,523	12,374	58%	4,606	2,871	60%
      EBITDA 22,722	15,510	47%	5,360	3,597	49%

      events)

      The Banking Solutions segment generated sales of EUR 21.2 million in the fourth quarter of 2025, which is more by EUR 3.0 million (16%) compared to the same period last year.

      By far the highest growth (EUR 3.9 million) was recorded in the revenue from the business line offering central systems, mainly in Southeast Europe. The growth was driven by the range of implemented projects and the software customisation services offered in Serbia and North Macedonia. Revenue in Romania also increased albeit to a lesser extent. The second largest revenue increase (EUR 0.4 million) was recorded by the line offering security solutions, as in the case of the central banking systems line, mainly in Southeast Europe, which was mostly thanks to the subscriptions signed and, to a lesser extent, the implementation of software customisation services. The multi-channel solutions line, however, recorded a decrease in revenue by EUR -1.4 million, mainly in Southeast Europe.

      The operating result of the Banking Solutions segment in 2025 was EUR 4.6 million, more by EUR 1.7 million (60%) compared to the same period last year. As in the case of revenue, the central banking solutions line recorded the largest increase in the result, while the security solutions line recorded a smaller increase. The multi-channel solutions line marked a lower operating result.

      Consolidated EBITDA in the fourth quarter of 2025 increased by EUR 1.8 million (49%) in the Banking Solutions segment, reaching EUR 5.4 million, which was linked to the change in operating profit.

      Dedicated Solutions segment results

      Dedicated Solutions

      3 months to

      31 December

      3 months to

      31 December

      3 months to

      31 December

      3 months to

      31 December

      2025	2024	Change	2025	2024	Change
      (excluding the effect of hyperinflation and one- PLN'000	PLN'000	%	EUR'000	EUR'000	%
      Sales revenues 219,783	174,355	26%	51,856	40,467	28%
      Operating profit 55,679	17,564	217%	13,142	4,080	222%
      EBITDA 61,176	20,412	200%	14,437	4,740	205%

      off events)

      Sales revenue of the Dedicated Solutions segment increased in the fourth quarter of 2025 by EUR 11.4 million (28%) and reached EUR 51.9 million. Both lines in that segment marked an improved result. The revenue of the proprietary software business line increased mainly in Southeast Europe thanks to solutions offered to the public service sector, such as billing software, integrated financial and operational systems, and to a lesser extent in smart traffic systems. The increased revenue

      ‌in the third-party solutions line was enabled mainly by hardware installation services within the framework of smart traffic systems projects that were implemented in Southeast Europe.

      The Dedicated Solutions segment recorded the highest increase in operating result among all segments, which was EUR 9.1 million. Most of this growth (EUR 7.6 million) was recorded by the line offering proprietary software and related services. The increase in this business line's result was comparable to the increase in its revenue thanks to the efficient utilisation of resources that were not comprehensively taken advantage of in the previous year. In product terms, solutions for the public service sector and, to a lesser extent, smart traffic systems, recorded the greatest increase. Less but still robust was the EUR

      1.5 million increase recorded by the third-party solutions business line, and related services.

      EBITDA of the Dedicated Solutions segment in the fourth quarter of 2025 increased by EUR 9.7 million and reached EUR 14.4 million.

      Net profit

      According to the annual consolidated financial statements, in the fourth quarter of 2025, financial activities, income tax and net result were as follows:

      	3 months to	3 months to	3 months to	3 months to
      	31 December 2025	31 December 2024	31 December 2025	31 December 2024
      	PLN'000	PLN'000	EUR'000	EUR'000
      Financial activities	(27,226)	3,286	(6,426)	761
      Pre-tax profit	78,656	75,465	18,557	17,514
      Corporate income tax	(15,076)	(15,425)	(3,557)	(3,581)
      Effective tax rate	19.2%	20.4%	19.2%	20.4%
      Net profit for the reporting period	63,580	60,040	15,001	13,934

      The following table presents the ASEE Group results for the third quarter of 2025 adjusted for the effect of one-off transactions and the impact of hyperinflation:

      	3 months to	3 months to	3 months to	3 months to
      	31 December 2025	31 December 2024	31 December 2025	31 December 2024
      	PLN'000	PLN'000	EUR'000	EUR'000
      Financial activities	(13,414)	14,074	(3,165)	3,269
      Profit before tax	95,151	80,714	22,451	18,736
      Income tax expense	(15,083)	(14,036)	(3,559)	(3,258)
      Effective tax rate	15.9%	17.4%	15.9%	17.4%
      Net profit for the reporting period	80,068	66,678	18,892	15,478

      ASEE Group's consolidated net profit for the fourth quarter of 2025, net of one-off events and hyperinflation adjustments, was EUR 18.9 million, up by EUR 3.4 million (22.1%) from the same period last year. The net profit increase resulted mainly from the increase in operating profit. The result on financial activities in the fourth quarter of 2025 was EUR 6.4 million lower than in the previous year, mainly due to loss from revaluation of contingent liabilities related to shares in acquired shares, as well as the valuation of PUT options of minority shareholders (-10.0 million EUR). The change was also influenced by the fact that in the fourth quarter of last year goodwill was written off in the Dedicated Solutions segment at EUR 3.2 million, which is not present in the current quarter.

      The effective tax rate in the fourth quarter of 2025, after adjustment for one-off events and hyperinflation, was lower than in the comparable period, and amounted to 15.9%. The decrease is mainly due to the tax benefits recognised in the fourth quarter of 2025, resulting from the settlement of investments in product development in Spain and Croatia as well as the lower tax related to dividends paid by subsidiaries.

   2. Financial results of ASEE Group for entire 2025 /cumulatively/

12 months to

31 December

2025

PLN'000

12 months to

12 months to

12 months to

31 December

2024

PLN'000

Change

31 December

2025

EUR'000

31 December

2024

EUR'000

Change

%

%

Net profit for the reporting period 180,276 204,686 -12% 42,546 47,555 -11%

Net profit attributable to Shareholders

of the Parent Company

198,254

199,223

-1%

46,789

46,286

1%

EBITDA = Operating profit + Depreciation + P.P.A

ASEE Group sales revenue for 2025 expressed in PLN was PLN 1,798.7 million. This represents an increase of PLN 90.5 million (5%) compared to the previous year. Operating profit in the same period increased by PLN 24.9 million (11%) and reached PLN

251.6 million. Net profit attributable to the parent company shareholders in 2025 was PLN 198.3 million, which means PLN 1 million drop compared to 2024. And, in 2025, EBITDA was PLN 367.3 million compared to PLN 325.5 million from the previous year (up by 13%).Consolidated sales revenue for 2025 expressed in EUR increased by EUR 27.6 million (7%) to EUR 424.5 million. Operating profit in the same period increased by EUR 6.7 million (13%) and reached EUR 59.4 million. In turn, EBITDA increased from EUR 75.6 million to EUR 86.7 million (15%).

The Group's financial results in 2025 were adjusted down significantly by one-off non-cash events recorded in the third and fourth quarters and related to the activities of subsidiaries in India and the United Arab Emirates (UAE). The total impact of such events was:

• Operating profit: EUR 1.6 million less

• Operating profit: EUR 5.6 million less

• Reporting period profit: EUR 6.1 million less

Certain one-off transactions lowered the results in the Payment Solutions segment, with the key ones being:

1. Reversal of SaaS revenue

   An adjustment of -1.6 million EUR due to the reversal of previously recognised revenue (not yet invoiced) from the transaction processing services provided by the payment gateway and the Payouts platform based on the SaaS model. The reversal decision was made as there was no real possibility to invoice and procure payment, a consequence of the difficult operational situation of customers from the FinTech sector.

2. Allowances for trade receivables, other receivables and provisions for liabilities

Recognition of allowances for trade receivables to corporate clients in the UAE and other receivables in India that were considered unlikely to be recovered. The total effect on operating profit and net profit was -1.7 million EUR. Recognition of provisions for tax liabilities and trade liabilities related to transactions prior 2025: -0.4 million EURAllow-ance for financial assets (deposits)

EUR -1.4 million was written down on deposits put on hold by India's Directorate of Enforcement, against net profit.

1. Allowance for intangible assets (Payouts and Payment Gateway)

   In connection with the lack of positive cash flows generated by Payouts as well as Payment Gateway software, which were recognised as part of the purchase price allocation (PPA), there was an impairment loss made at EUR -1.9 million (effect on operating profit) and EUR -1.5 million (effect on net profit).

2. Revaluation of contingent liabilities and goodwill impairment

Revaluation to zero of contingent liabilities on the payment for the controlling package of subsidiaries based in India and the UAE, due to the lack of prospects for the realisation of the assumed result by 31 March 2026. The goodwill resulting from the acquisition of these companies was written off. The total positive effect of these operations on net profit was

+0.5 million EUR.

Once the above one-off transactions are eliminated and the impact of hyperinflation adjusted for, the results for the 12 months of 2025 are as follows:

12 months to 12 months to 12 months to 12 months to

EBITDA = Operating profit + Depreciation + P.P.A

The results after adjustments for the one-off transactions, expressed in EUR show an increase in revenues as well as improved profitability of ASEE Group thanks to the growing results in the Dedicated Solutions segment as well as the Banking Solutions segment. This is described in more detail in the following sections, with the results of individual segments elaborated further. The Payment Solutions segment, even after adjusting for the impact of one-off transactions, recorded a decrease in results.

The new ASEE Group companies, acquired in 2024 and 2025, impacted revenues by EUR -0.8 million year on year. Their financial results and the P.P.A amortisation lead to a drop in EBIT by -9.8 million EUR and in EBITDA by -6.8 million EUR. The negative impact mainly originated in the companies operating in India and the UAE.

12 months to

Effect

Transac-

tions

12 months to

12 months to

Effect

Transac-

tions

12 months to

The effect of one-off transactions and adjustment for hyperinflation on the Group's results for 12 months of 2025 is presented in the table below:

For more detailed information on hyperinflation reporting, see Section 2.11 of the Consolidated Financial Statements.

The results of individual segments, without the effect of hyperinflation, are described below. This approach is in line with the way the Board considers the segments. In addition, the described results were cleared of the effect of one-off events related to the Payment Solutions segment, described above.

Payment Solutions segment results

Payment Solutions

12 months to

31 December

12 months to

31 December

12 months to

31 December

12 months to

31 December

off events)

Payment Solutions segment revenue in 2025 was EUR 211.5 million, up by EUR 15 million (8%) from the same period last year. Growth was recorded in all lines included in the segment, with the largest share in growth being directly addressed to retail