Consolidated financial report for Q1 2026 (consolidated financial report for q1 2026)

Quarterly Report

for the period of 3 months ended 31 March 2026

Present in

26 countries

Revenue generated

PLN 434.5 million

3 930

employees contributing to the achieved results

Net result

for Shareholders

of the Parent Company

PLN 47.5 million

Financial Highlights 5

Interim Condensed Consolidated Statement of Profit and Loss and Other Comprehensive Income 6

Interim Condensed Consolidated Statement of Financial Position 7

Interim Condensed Consolidated Statement of Changes in Equity 9

Interim Condensed Consolidated Statement of Cash Flows 11

Explanatory notes to the Interim Condensed Consolidated Financial Statements 12

1. GENERAL INFORMATION 12

2. BASIS FOR THE PREPARATION OF INTERIM CONDENSED FINANCIAL STATEMENTS 13

   1. Basis for preparation 13

   2. Impact of the geopolitical and macroeconomic situation on the Group's business operations 13

   3. Compliance statement 13

   4. Functional currency and presentation currency 14

   5. Professional judgement and estimates 14

   6. Accounting policies applied 14

   7. New standards and interpretations published but not in force yet 15

   8. Changes in the presentation methods and in the comparable data 15

   9. Correction of errors 17

   10. Accounting effects of Turkey's status as a hyperinflationary economy 17

3. ORGANIZATION AND CHANGES IN THE STRUCTURE OF ASSECO SOUTH EASTERN EUROPE GROUP, INCLUDING THE ENTITIES SUBJECT TO CONSOLIDATION 21

4. INFORMATION ON OPERATING SEGMENTS 24

5. EXPLANATORY NOTES TO THE CONSOLIDATED STATEMENT OF PROFIT AND LOSS 27

   1. Structure of operating revenues 27

   2. Structure of operating costs 29

   3. Other operating income and expenses 30

   4. Financial income and expenses 31

   5. Corporate income tax 32

   6. Earnings per share 33

   7. Information on dividends paid out 33

6. EXPLANATORY NOTES TO THE CONSOLIDATED STATEMENT OF FINANCIAL POSITION 34

   1. Property, plant and equipment 34

   2. Intangible assets 34

   3. Right-of-use assets 35

   4. Goodwill 35

   5. Other financial assets 37

   6. Prepayments 38

   7. Receivables and contract assets 38

   8. Inventories 39

   9. Cash and cash equivalents 40

   10. Lease liabilities 40

   11. Bank loans and borrowings 41

   12. Other financial liabilities 42

   13. Trade payables, state budget liabilities and other liabilities 42

   14. Contract liabilities 43

   15. Provisions 43

   16. Accruals and deferred income 44

   17. Related party transactions 44

7. EXPLANATORY NOTES TO THE CONSOLIDATED STATEMENT OF CASH FLOWS 46

   1. Cash flows - operating activities 46

   2. Cash flows - investing activities 46

   3. Cash flows - financing activities 46

8. OTHER EXPLANATORY NOTES 48

SUMMARY AND ANALYSIS OF THE FINANCIAL RESULTS OF ASSECO SOUTH EASTERN EUROPE GROUP FOR THE PERIOD

OF 3 MONTHS ENDED 31 MARCH 2026 51

1. FINANCIAL RESULTS OF ASSECO SOUTH EASTERN EUROPE GROUP FOR THE FIRST QUARTER OF 2026 52

2. ANALYSIS OF FINANCIAL RATIOS 56

3. STRUCTURE OF THE STATEMENT OF CASH FLOWS 57

4. INFORMATION ON GEOGRAPHICAL STRUCTURE OF FINANCIAL RESULTS 58

5. NON-RECURRING EVENTS WITH IMPACT ON OUR FINANCIAL PERFORMANCE 60

6. AUTHORITIES OF ASSECO SOUTH EASTERN EUROPE S.A 60

7. SHAREHOLDERS STRUCTURE OF ASSECO SOUTH EASTERN EUROPE S.A 60

8. OTHER INFORMATION 61

INTERIM CONDENSED FINANCIAL STATEMENTS OF ASSECO SOUTH EASTERN EUROPE S.A. FOR THE PERIOD OF 3 MONTHS ENDED

31 MARCH 2026 63

Financial Highlights 64

Interim Condensed Statement of Profit and Loss and Other Comprehensive Income 65

Interim Condensed Statement of Financial Position 66

Interim Condensed Statement of Changes in Equity 68

Interim Condensed Statement of Cash Flows Asseco South Eastern Europe S.A 69

‌Financial Highlights

Cash and cash equivalents at the end of the period

(comparable data as at 31 December 2025)

351,829

311,942

82,023

73,803

The selected financial data disclosed in these interim condensed consolidated financial statements have been translated into euros (EUR) in the following way:

• Items relating to the consolidated statement of profit or loss and the consolidated statement of cash flows were translated using the exchange rate calculated as the arithmetic average of the average exchange rates published by the National Bank of Poland, effective on the last day of each month. This rates amounted to:

  • for the period from 1 January 2026 to 31 March 2026: EUR 1 = PLN 4.2419

  • for the period from 1 January 2025 to 31 March 2025: EUR 1 = PLN 4.1848

• The Group's cash and cash equivalents as at the end of the reporting period and the comparative period were translated using the average exchange rates published by the National Bank of Poland. These rates were as follows:

  • exchange rate effective on 31 March 2026: EUR 1 = PLN 4.2894

  • exchange rate effective on 31 December 2025: EUR 1 = PLN 4.2267

All amounts in this report are expressed in thousands of Polish zloty (PLN), unless stated otherwise.

‌Interim Condensed Consolidated Statement of Profit and Loss and Other Comprehensive Income

Net gain/loss on valuation of financial assets 45 55

Items that may not be reclassified subsequently to

profit or loss

Exchange differences on translation of foreign operations

14,299 (44,393)

-

-

Actuarial gains/losses - -

Non-controlling interests (430) 1,252

for the reporting period for the reporting period with employees

for the reporting period for the reporting period with employees

liabilities to non-controlling shareholders

(restated)

‌Interim Condensed Consolidated Statement of Cash Flows

companies acquired

‌Explanatory notes to the Interim Condensed Consolidated Financial Statements

1. ‌General information

   Asseco South Eastern Europe Group ("ASEE Group", "Group", "ASEE") is a group of companies, the Parent Company of which is Asseco South Eastern Europe S.A. ("Parent Company", "ASEE S.A.", "Company", "Issuer") seated at 14 Olchowa St., Rzeszów, Poland.

   General information on the Parent Company

   Name Asseco South Eastern Europe S.A.

   Registered seat Rzeszów, 14 Olchowa St.

   National Court Register number 0000284571

   Statistical ID number (REGON) 180248803

   Tax Identification Number (NIP) 813-351-36-07

   Core business Activities of holding companies, IT activities

   The Parent Company, Asseco South Eastern Europe S.A., with its registered office in Rzeszów, was established on 10 April 2007 as a joint-stock company under the name Asseco Adria S.A. On 11 July 2007, the Company was entered into the XII Commercial Division of the National Court Register maintained by the District Court in Rzeszów under registration number 0000284571. The Parent Company was assigned the statistical number REGON 180248803. On 11 February 2008, the change of the Parent Company's name from Asseco Adria Spółka Akcyjna to Asseco South Eastern Europe Spółka Akcyjna was registered.

   Since 28 October 2009, the Company's shares have been listed on the main market of the Warsaw Stock

   Exchange S.A.

   ASEE S.A. is the Parent Company of the Asseco South Eastern Europe Group. The Parent Company may operate within the territory of the Republic of Poland as well as abroad. The duration of the Parent Company its subsidiaries is indefinite.

   The Group provides comprehensive solutions and proprietary software necessary for banking operations, as well as advanced payment solutions enabling the development of the payments market in the region. It also delivers integration and implementation services for IT systems and hardware of global market leaders. The Group operates in Central Europe, South-Eastern Europe, the Iberian Peninsula, as well as in Egypt, Turkey, Colombia, Peru, the Dominican Republic, India and the United Arab Emirates.

   The scope of the core businesss activities of the Asseco South Eastern Europe Group, broken down into relevant segments, is described in Section IV of these interim condensed consolidated financial statements.

   The direct parent entity of ASEE S.A. is Asseco International a.s. ("AI"), with its registered office in Bratislava, which is part of the Asseco Poland Group. As at 31 March 2026, AI held 26,407,081 shares in the Company, representing 50.89% of the Company's share capital and entitling it to 26,407,081 votes at the General Meeting, which constituted 50.89% of the total number of votes. The ultimate parent company of the entire Asseco Poland Group is Asseco Poland S.A., with its registered office in Rzeszów.

   These interim condensed consolidated financial statements cover the interim period ended 31 March 2026 and contain comparable data for the interim period ended 31 March 2025 in case of the statement of profit and loss, statement of other comprehensive income, statement of changes in equity and the statement of cash flows; and comparable data as at 31 December 2025 in case of the statement of financial position.

2. ‌Basis for the preparation of interim condensed financial statements
   1. ‌Basis for preparation

      These interim condensed consolidated financial statements have been prepared on the historical cost basis, except for financial assets measured at fair value through profit or loss or other comprehensive income, financial assets measured at amortized cost, and financial liabilities measured at fair value through profit or loss. Additionally, subsidiaries operating a hyperinflationary economy (Turkey) have restated their financial data to reflect changes in purchasing power based on a general price index so that amounts are expressed in the measurement units at the end of the reporting period. The impact of hyperinflation on the consolidated financial statements is described in explanatory note 2.10.

      These interim condensed consolidated financial statements do not include all information and disclosures required for annual consolidated financial statements, and therefore they should be read together with the Group's consolidated financial statements for the year ended 31 December 2025 which were published on 25 February 2026.

      The scope of these interim condensed consolidated financial statements, being part of the quarterly report, is in accordance with Regulation of the Minister of Finance of 6 June 2025 on current and periodic information disclosed by issuers of securities and on the conditions for recognizing as equivalent information required by the laws of a non-member state (consolidated text: Journal of Laws 2025, item 755, as amended) ("Regulation"), and covers the reporting period from 1 January to 31 March 2026 and the comparable period from 1 January to 31 March 2025 in case of the statement of profit and loss, statement of cash flows and statement of changes in equity, as well as the financial position data as at 31 March 2026 and the comparable data as at 31 December 2025 in case of the statement of financial position.

      These interim condensed consolidated financial statements have been prepared on a going-concern basis, assuming the Group will continue its business activities in the foreseeable future. As of the date of these consolidated financial statements, there are no circumstances indicating a threat to the Group's ability to continue as a going concern.

   2. ‌Impact of the geopolitical and macroeconomic situation on the Group's business operations

      As at the date of publication of these interim condensed consolidated financial statements, based on its analysis of existing geopolitical and macroeconomic risks, the Management Board concluded that the Group's ability to continue operations for a period of no less than 12 months from 31 March 2026 is not at risk.

      As a result of the Russian invasion of Ukraine that began in 2022, the geopolitical situation in the entire Central and South-Eastern Europe region has significantly changed, while political tensions and military activities in Israel, the Gaza Strip, and Lebanon continue to affect the stability of the Middle East region. The Group continuously monitors the evolving geopolitical situation and its potential impact on future financial position and results. It is difficult to predict the further course of the conflict, and consequently the long-term economic effects for this part of Europe and the United Arab Emirates, as well as the impact on the overall macroeconomic environment, which indirectly affects ASEE Group's financial results.

      In 2022, Turkey was recognized as a country with a hyperinflationary economy. The Group consolidates financial data from several subsidiaries operating in Turkey, including ASEE Turkey, Payten Turkey, and Paratika, whose functional currency is that of a hyperinflationary economy. Accordingly, the interim condensed consolidated financial statements include financial information of subsidiaries operating in Turkey adjusted for inflation, to reflect the impact of changes in the appropriate price index. The effect of hyperinflation adjustments is described in explanatory note 2.10 to these interim condensed consolidated financial statements.

   3. ‌Compliance statement

      These interim condensed consolidated financial statements have been prepared in compliance with the International Accounting Standard 34 'Interim Financial Reporting' as endorsed by the European Union (IAS 34).

      Some of the Group companies maintain their accounting books in accordance with the accounting regulations. The consolidated financial statements include adjustments not recorded in the accounting books of the Group's entities, made to align their financial statements with IFRS.

   4. ‌Functional currency and presentation currency

      These interim condensed consolidated financial statements are presented in Polish zloty ("PLN"), and all amounts, unless stated otherwise, are presented in thousands of PLN (PLN'000). Minor differences of 1 thousand PLN in totals result from rounding.

      The functional currency of the Parent Company, and simultaneously the presentation currency of these consolidated financial statements, is the Polish zloty (PLN). The functional currencies of the subsidiaries included in these financial statements are the currencies of the primary economic environments in which they operate. For consolidation purposes, the financial statements of foreign subsidiaries are translated into PLN using for balance sheet items: exchange rates quoted by the National Bank of Poland at the end of the reporting period and for statement of comprehensive income as well as the statement of cash flows items: average exchange rates calculated as the arithmetic mean of rates published by the National Bank of Poland on the last day of each month of the reporting period. The effects of these translations are recognized in equity under 'Exchange differences on translation of foreign operations'.

      For subsidiaries operating in a hyperinflationary economy, individual items of the statement of comprehensive income are translated into PLN using the respective currency exchange rates as determined by the National Bank of Poland at the end of the reporting period. The difference resulting from the translation of the statement of comprehensive income at the exchange rate effective on the reporting date, instead of using the average exchange rate for the reporting period, is disclosed in the line 'Exchange differences on translation of foreign operations'.

   5. ‌Professional judgement and estimates

      The preparation of the Group's consolidated financial statements in accordance with IFRS requires management to make judgements, estimates and assumptions that affect the reported amounts in the financial statements. Although these assumptions and estimates are based on the best knowledge of the Group's management regarding current activities and events, actual results may differ from those estimates.

      In the period of 3 months ended 31 March 2026, our approach to making estimates was not subject to any substantial modification in relation to the previous year.

   6. ‌Accounting policies applied

      Significant accounting policies adopted by the Parent Company have been described in its consolidated financial statements for the year ended 31 December 2025 which were published on 25 February 2026.

      Accounting policies adopted in the preparation of these interim condensed consolidated financial statements have remained unchanged in relation to those followed when preparing the Group's annual consolidated financial statements for the year ended 31 December 2025, except for the adoption of amendments to standards that have become effective from 1 January 2026.

      New standards or amendments effective from 1 January 2026:

      • Amendments to IFRS 9 and IFRS 7 Classification and Measurement of Financial Instruments (issued on May 30, 2024) - effective for reporting periods beginning on or after January 1, 2026;

      • Amendments to IFRS 9 and IFRS 7 Contracts Referencing Nature-dependent Electricity (published on December 18, 2024) effective for reporting periods beginning on or after January 1, 2026;

      • Annual Improvements to IFRS Accounting Standards - Volume 11 (published on July 18, 2024) - effective for reporting periods beginning on or after January 1, 2026.

        The amended standards and interpretations that were first applied in 2026 had no significant impact on the consolidated financial statements of the Group.

   7. ‌New standards and interpretations published but not in force yet

      The following standards and interpretations were issued by the International Accounting Standards Board (IASB) and International Financial Reporting Interpretations Committee (IFRIC), but have not yet come into force:

      • IFRS 19 Subsidiaries without Public Accountability: Disclosures (published on 9 May 2024) - not endorsed by the EU by the date of approval of these financial statements - effective for reporting periods beginning on or after 1 January 2027;

      • Amendments to IFRS 19 Subsidiaries without Public Accountability: Disclosures (published on 21 August 2024) - not endorsed by the EU by the date of approval of these financial statements - effective for reporting periods beginning on or after 1 January 2027;

      • Amendments to IAS 21 The Effects of Changes in Foreign Exchange Rates: Translation to a Hyperinflationary Presentation Currency (published on 13 November 2025) - not endorsed by the EU by the date of approval of these financial statements - effective for reporting periods beginning on or after 1 January 2027;

      • IFRS 18 Presentation and Disclosure in Financial Statements (published on 9 April 2024) - effective for reporting periods beginning on or after 1 January 2027.

      The specified effective dates have been set forth in the standards published by the International Accounting Standards Board. The actual dates of adopting these standards in the European Union may differ from those set forth in the standards and they shall be announced once they are approved for application by the European Union.

      The Group did not decide on early adoption of any standard, interpretation or amendment which has been published but has not yet become effective.

      The Group is currently conducting an analysis of how the above-mentioned amendments are going to impact its financial statements.

   8. ‌Changes in the presentation methods and in the comparable data

      The Group has changed the comparable data disclosed as at 31 March 2025 and for the period of 3 months ended 31 March 2025 due to changes in the values of assets acquired that were recognized in the purchase price allocation of our subsidiary company Touras.

      Detailed information on accounting for the acquisition of Touras has been presented in explanatory note 6.4 to the Group's consolidated financial statements for the year 2025 which were published on 25 February 2026, as the purchase price allocation processes was completed in 2025.

      The tables below present how the said changes affected the comparable data disclosed as at 31 March 2025 and for the period of 3 months ended 31 March 2025:

      STATEMENT OF PROFIT AND LOSS	3 months ended 31 March 2025	Purchase price allocation of	3 months ended 31 March 2025
      		subsidiaries	(restated)
      	PLN'000	PLN'000	PLN'000
      Operating revenues	400,324	-	400,324
      Cost of sales	(294,102)	-	(294,102)
      Allowances for trade receivables	(3,457)	-	(3,457)
      Gross profit on sales 102,765 - 102,765
      Selling expenses	(29,526)	-	(29,526)
      General and administrative expenses	(25,216)	-	(25,216)
      Net profit on sales 48,023 - 48,023
      Other operating income	1,388	-	1,388
      Other operating expenses	(345)	-	(345)
      Share of profits of associates	47	-	47
      Operating profit 49,113 - 49,113
      Financial income	16,847	-	16,847
      Financial expenses	(18,341)	-	(18,341)
      Impairment loss on financial instruments	-	-	-
      Profit before tax 47,619 - 47,619
      Income tax expense	(9,459)	-	(9,459)

      (current and deferred tax expense)
      Net profit for the reporting period 38,160 - 38,160
      Attributable to:
      Shareholders of the Parent Company 35,845 - 35,845
      Non-controlling interests	2,315	-	2,315
      Basic and diluted consolidated earnings per share for the reporting period, attributable to shareholders of the Parent	0.69	-	0.69
      Company (in PLN)

      OTHER COMPREHENSIVE INCOME Net profit for the reporting period 38,160 - 38,160

      Items that may be reclassified subsequently to profit or (44,488) 150 (44,338) loss

      Net gain/loss on valuation of financial assets	55	-	55
      Exchange differences on translation of foreign operations	(44,543)	150	(44,393)
      Items that may not be reclassified subsequently to profit - - - or loss
      Actuarial gains/losses	-	-	-

      Total other comprehensive income	(44,488)	150	(44,338)
      TOTAL COMPREHENSIVE INCOME attributable to:	(6,328)	150	(6,178)
      Shareholders of the Parent Company	(7,450)	20	(7,430)

      905,053 (865) 904,188

      TOTAL ASSETS 2,263,682 2,240 2,265,922

      Non-controlling interests 1,122 130 1,252

      31 March 2025 Purchase price 31 March 2025 allocation of (restated) ASSETS subsidiaries PLN'000 PLN'000 PLN'000

      Non-current assets

      Property, plant and equipment	174,309	-	174,309
      Intangible assets	85,430	-	85,430
      Right-of-use assets	74,378	-	74,378
      Investment property	-	-	-
      Goodwill	992,520	3,105	995,625
      Investments accounted for using the equity method	304	-	304
      Other receivables	14,544	-	14,544
      Deferred tax assets	11,593	-	11,593
      Other financial assets	2,941	-	2,941
      Prepayments	2,610	-	2,610
      1,358,629 3,105 1,361,734
      Current assets
      Inventories	89,632	-	89,632
      Prepayments	62,878	-	62,878
      Trade receivables	222,792	(865)	221,927
      Contract assets	97,877	-	97,877
      Income tax receivable	5,745	-	5,745
      Receivables from the state and local budgets	10,437	-	10,437
      Other receivables	99,934	-	99,934
      Other non-financial assets	7,010	-	7,010
      Other financial assets	4,113	-	4,113
      Cash and bank deposits	304,635	-	304,635

      31 March 2025 Purchase price 31 March 2025 allocation of (restated) EQUITY AND LIABILITIES subsidiaries PLN'000 PLN'000 PLN'000

      Equity (attributable to shareholders of the Parent Company)

      Share capital	518,943	-	518,943
      Share premium	38,826	-	38,826
      Transactions with non-controlling interests	(164,594)	(2,563)	(167,157)
      Other reserves	1,785	-	1,785
      Exchange differences on translation of foreign operations	(268,016)	22	(267,994)
      Retained earnings	940,098	-	940,098

      	1,067,042	(2,541)	1,064,501
      Non-controlling interests	8,540	-	8,540
      Total equity	1,075,582	(2,541)	1,073,041
      Non-current liabilities

      Bank loans and borrowings	82,116	-	82,116
      Lease liabilities	51,258	-	51,258
      Other financial liabilities	398,013	-	398,013
      Deferred tax liabilities	13,385	-	13,385
      Provisions	5,300	4,781	10,081
      Deferred income	862	-	862
      Accruals	484	-	484
      Contract liabilities	7,051	-	7,051
      Other liabilities	53	-	53

      558,522 4,781 563,303

      Current liabilities

      Bank loans and borrowings	86,385	-	86,385
      Lease liabilities	20,413	-	20,413
      Other financial liabilities	45,473	-	45,473
      Trade payables	134,271	-	134,271
      Contract liabilities	142,686	-	142,686
      Income tax payable	11,584	-	11,584
      Liabilities to the state and local budgets	32,210	-	32,210
      Other liabilities	115,707	-	115,707
      Provisions	2,790	-	2,790
      Deferred income	646	-	646
      Accruals	37,413	-	37,413

      	629,578	-	629,578
      TOTAL LIABILITIES	1,188,100	4,781	1,192,881
      TOTAL EQUITY AND LIABILITIES	2,263,682	2,240	2,265,922

   9. ‌Correction of errors

      In the reporting period, no events occurred that would require making corrections of any misstatements.

   10. ‌Accounting effects of Turkey's status as a hyperinflationary economy

       The Group has subsidiaries operating in a hyperinflationary economy, for which it applies IAS 29 Financial Reporting in Hyperinflationary Economies. The Group identified hyperinflation in Turkey based on both qualitative and quantitative factors, in particular due to the fact that cumulative inflation over a three-year period exceeded 100% in April 2022 and have remained above 100% till the end of the reporting period.

       In accordance with IAS 29, the financial data of Turkish subsidiaries have been restated to reflect purchasing power at the end of the reporting period, based on the Consumer Price Index (CPI) published by the Turkish Statistical Institute. Accordingly, non-monetary items in the statement of financial position as well as the statement of profit and loss have been restated to reflect purchasing power as at the reporting date. Monetary items, such as receivables, liabilities, and bank borrowings, already reflect purchasing power at the closing date, as they are expressed in current monetary units. IAS 29, in conjunction with IAS 21 The Effects of Changes in Foreign Exchange Rates, also requires that all transactions denominated in a hyperinflationary currency, i.e. the Turkish lira (TRY), be translated into the Group's presentation currency, i.e. Polish zloty

       (PLN), using the exchange rate at the reporting date. Accordingly in the current reporting period, all transactions in Turkey were translated into PLN using the exchange rate as at 31 March 2026, in the prior year, all transactions in Turkey were translated using the exchange rate as at 31 December 2025, whereas the Group typically translates profit or loss items using the average exchange rate for the reporting period.

       Basis of restatements due to hyperinflation

       • Price index:

         Hyperinflation restatements of the financial data of our subsidiaries operating in Turkey have been based on officially available data on changes in the consumer price index (CPI) as published by the Turkish Statistical Institute. According to this index, the inflation rate for the period of 12 months ended 31 March 2026 reached 31%.

         The rates of inflation for particular reporting periods are presented in the table below:

         Inflation rate for particular periods

         March 2026 - December 2025 10%

         March 2026 - March 2025 31%

         December 2025 - December 2024 31%

         December 2024 - December 2023 44%

         Three-year cumulative inflation rate

         March 2026 - March 2023 205%

         December 2025 - December 2022 211%

       • Currency exchange rate:

   All financial data of our subsidiary operations in Turkey, both in the statement of financial position and the statement of profit and loss are translated into the Group's presentation currency (PLN) using the TRY/PLN exchange rate effective on the reporting date, instead of the Group's standard practice of translating the statement of profit and loss at the average exchange rate for the reporting period. As at 31 March 2026, this exchange rate was: TRY 1 = PLN 0.0840.

   STATEMENT OF PROFIT AND LOSS

   3 months ended

   3 months ended

   Impact of

   The impact of adopting IAS 29 on the consolidated financial statements for the period of 3 months ended 31 March 2026 is summarized below:

   	31 March 2026 without impact of	hyperinflation	31 March 2026 according to
   	PLN'000	PLN'000	PLN'000
   Operating revenues	431,076	3,464	434,540
   Cost of sales	(314,145)	(3,079)	(317,224)
   Allowances for trade receivables	(2,230)	-	(2,230)
   Gross profit on sales	114,701	385	115,086
   Selling expenses	(30,351)	(356)	(30,707)
   General and administrative expenses	(26,838)	(247)	(27,085)
   Net profit on sales	57,512	(218)	57,294
   Other operating income	849	-	849
   Other operating expenses	(420)	(1)	(421)
   Share of profits of associates	21	-	21
   Operating profit	57,962	(219)	57,743
   Financial income	13,662	7,884	21,546
   Financial expenses	(20,027)	(40)	(20,067)
   Impairment loss on financial instruments	(34)		(34)
   Profit before tax	51,563	7,625	59,188
   Income tax expense (current and deferred tax expense)	(11,753)	(325)	(12,078)
   Net profit for the reporting period	39,810	7,300	47,110
   Attributable to:
   Shareholders of the Parent Company	40,239	7,271	47,510
   Non-controlling interests	(429)	29	(400)

   OTHER COMPREHENSIVE INCOME
   Net profit for the reporting period	39,810	7,300	47,110
   Items that may be reclassified subsequently to profit or loss	14,299	45	14,344
   Net gain/loss on valuation of financial assets	45	-	45
   Exchange differences on translation of foreign operations	14,254	45	14,299

   Total other comprehensive income	14,299	45	14,344
   TOTAL COMPREHENSIVE INCOME attributable to:	54,109	7,345	61,454
   Shareholders of the Parent Company	54,568	7,316	61,884

   	1,012,072	1,781	1,013,853
   TOTAL ASSETS	2,219,020	75,668	2,294,688

   262,537 1,564 264,101

   Current liabilities

   Non-controlling interests (459) 29 (430)

   31 March 2026 Impact of 31 March 2026 ASSETS without impact of IAS 29 hyperinflation according to IAS/IFRS PLN'000 PLN'000 PLN'000

   Non-current assets

   Property, plant and equipment	187,557	6,269	193,826
   Intangible assets	55,960	541	56,501
   Right-of-use assets	68,316	-	68,316
   Goodwill	854,714	66,983	921,697
   Investments accounted for using the equity method	327	-	327
   Other receivables	12,907	-	12,907
   Deferred tax assets	13,856	50	13,906
   Other financial assets	3,115	-	3,115
   Prepayments	10,196	44	10,240

   1,206,948 73,887 1,280,835

   Current assets

   Inventories	67,498	-	67,498
   Prepayments	66,621	1,781	68,402
   Trade receivables	290,514	-	290,514
   Contract assets	93,516	-	93,516
   Income tax receivable	4,266	-	4,266
   Receivables from the state and local budgets	4,672	-	4,672
   Other receivables	121,966	-	121,966
   Other non-financial assets	10,253	-	10,253
   Other financial assets	937	-	937
   Cash and cash equivalents	351,829	-	351,829

   EQUITY AND LIABILITIES	31 March 2026 without impact of IAS 29 PLN'000	Impact of hyperinflation PLN'000	31 March 2026 according to IAS/IFRS PLN'000
   Equity (attributable to shareholders of the Parent Company)	1,212,055	71,227	1,283,282
   Non-controlling interests	7,996	276	8,272
   Total equity	1,220,051	71,503	1,291,554
   Non-current liabilities
   Bank loans and borrowings	88,682	-	88,682
   Lease liabilities	44,738	-	44,738
   Other financial liabilities	95,768	-	95,768
   Deferred tax liabilities	7,588	1,557	9,145
   Provisions	11,678	-	11,678
   Deferred income	268	-	268
   Accruals	862	-	862
   Contract liabilities	12,235	7	12,242
   Other liabilities	718	-	718
   Bank loans and borrowings	50,689	-	50,689
   Lease liabilities	22,486	-	22,486
   Other financial liabilities	117,962	-	117,962
   Trade payables	151,360	-	151,360
   Contract liabilities	158,362	2,601	160,963
   Income tax payable	16,194	-	16,194

   Liabilities to the state and local budgets	35,456	-	35,456
   Other liabilities	134,205	-	134,205
   Provisions	4,543	-	4,543
   Deferred income	688	-	688
   Accruals	44,487	-	44,487

   	736,432	2,601	739,033
   TOTAL LIABILITIES	998,969	4,165	1,003,134
   TOTAL EQUITY AND LIABILITIES	2,219,020	75,668	2,294,688

   As described in section IV. Information on operating segments, the Management analyzes the operations of individual segments and their financial performance without the impact of hyperinflation revaluations. Therefore, in the explanatory note on operating segments, the impact of hyperinflation has been disclosed in a separate column in order to reconcile the financial data of segments with the data presented elsewhere in the interim condensed consolidated financial statements.

   The table below presents the financial data of segments in two variants: without the impact of IAS 29, and also in accordance with IAS/IFRS.

   3 months ended 31 March 2026 Banking Solutions Payment Solutions Dedicated Solutions without according to without according to without according impact of IAS/IFRS impact of IAS/IFRS impact of to IAS/IFRS IAS 29 IAS 29 IAS 29 PLN'000 PLN'000 PLN'000 PLN'000 PLN'000 PLN'000
   Sales to external customers	92,751	92,863	222,313	223,676	127,868	129,857
   Gross profit on sales	34,558	34,588	64,539	64,349	15,604	16,149

   Selling expenses	(2,833)	(2,850)	(18,285)	(18,544)	(9,233)	(9,313)
   General and administrative expenses	(6,819)	(6,844)	(13,711)	(13,875)	(6,308)	(6,366)
   Net profit on sales	24,906	24,894	32,543	31,930	63	470
   Other operating activities	23	23	244	244	162	161
   Share of profits of associates	-	-	21	21	-	-
   Operating profit	24,929	24,917	32,808	32,195	225	631
   Goodwill as at 31 March 2026	205,787	213,324	291,513	318,232	357,414	390,141

3. ‌ Organization and changes in the structure of Asseco South Eastern Europe Group, including the entities subject to consolidation

   Organizational structure of Asseco South Eastern Europe Group is presented in the chart below:

   Ifthenpay Lda Portugal 80/80 (80/80)*

Payten Teknoloji A.Ş.

Turkey

100/100 (100/100)

Askepnet TOV

Ukraine 100/100 (100/100)

Bithat Solutions s.r.l.

Romania 100/100 (100/100)

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

Helius Systems Sh.p.k.

Albania 70/70 (70/70)*

ContentSpeed s.r.l.

Romania

80/80 (80/80)*

Monri Payments d.o.o.

Slovenia

75/75 (75/75)*

Necomplus PERÚ SAC

Peru 100/100 (100/100)

subsidiary company

associated company

Sycket Technologies, S.L.

Spain

70/70 (70/70)*

Clever Solutions Sh.p.k.

Albania 45/45 (45/45)

Afusion d.o.o., Beograd

Serbia 100/100 (95/95)

Monri Payments d.o.o. Zagreb

Croatia

100/100 (100/100)

Payten d.o.o.. Podgorica

Montenegro

100/100 (100/100)

Payten DOOEL. Skopje Macedonia

100/100 (100/100)

ASEE Solutions d.o.o. Beograd

Serbia

100/100 (100/100)

Touras Tech Global Private Limited

India

100/100 (100/100)

100/100 voting rights / equity interest as at 31 March 2026 (in %) (100/100) voting rights / equity interest as at 31 December 2025 (in %)

ASEE Group consists of ASEE S.A. as the parent company and the following subsidiaries and associates:

Associated companies:

Clever Solutions Sh.p.k. Albania 45/45 45/45

* this investment is accounted for using the present ownership method, assuming we hold 100% of shares due to the existing put/call options

Both as at 31 March 2026 and 31 December 2025, all the subsidiary companies were subject to consolidation. The Group had no shares in any jointly controlled entities as at 31 March 2026 nor as at 31 December 2025.

During the period of 3 months ended 31 March 2026, the Group's composition changed as follows:

• Acquisition of non-controlling shares in AFusion d.o.o. Beograd

  On 3 February 2026, Payten d.o.o., Novi Beograd entered into an agreement to acquire a 5% equity interest in AFusion d.o.o., Beograd. The acquisition was registered on 11 February 2026. As a result of this transaction, Payten d.o.o., Novi Beograd holds 100% of the shares in AFusion d.o.o., Beograd.

  The transaction was accounted for within equity as a transaction with non-controlling interests and was fully attributed to the equity of the Parent Company.

• Change of name of subsidiary of Monri Payments d.o.o.

On 4 March 2026, the change of the company name in Slovenia from Avera d.o.o. to Monri Payments

informacijske rešitve in storitve d.o.o., abbreviated as Monri Payments d.o.o., was registered.

1. ‌Information on operating segments

   According to IFRS 8, an operating segment is a separable component of the Group's business for which separate financial information is available and regularly reviewed by the chief operating decision maker in order to allocate resources to the segment and to assess its performance.

   Asseco South Eastern Europe Group has identified the following reportable segments reflecting the structure of its business operations:

   • Banking Solutions,

   • Payment Solutions

   • Dedicated Solutions.

   These reportable segments correspond to the Group's operating segments.

   The Banking Solutions segment includes comprehensive solutions and products necessary for banking operations, such as: multi-channel solutions for distribution of banking products and services, solutions improving customer communication, integrated core banking systems, authentication security solutions, IT reporting systems for regulatory and management reporting, systems for risk management and anti-fraud systems. The segment also offers its clients 24x7 online services and consultancy in the areas of mobile and electronic banking and digital transformation.

   The Payment Solutions segment provides comprehensive payment solutions supporting bith online and offline payments, offered by the Payten Group for both financial and non-financial institutions. These solutions are intended for e-Commerce (online payment gateways, support for alternative payment methods such as cryptocurrencies, QR codes, cards tokenization, subscription payments), mobile payments (mPOS, vPOS, SoftPOS), payment card processing, as well as services related to ATMs and EFT POS terminals. The Group delivers software and services as well as ATMs and payment terminals, including under an outsourcing model, allowing clients to lease equipment and use maintenance and infrastructure management services. This segment also operates an independent ATM network under the MoneyGet brand. In addition, the Group runs a network of independent EFT POS terminals at points of sale - IPD service under the Monri brand enabling merchants to replace two or more payment terminals at the point of sale with a single device connected directly to multiple acquirers (card issuers). Moreover, the segment offers complementary solutions for creating online and mobile stores and marketplace platforms, as well as cash register management and sales support systems (ECR) for retailers.

   The Dedicated Solutions segment provides services to the sectors of utilities and telecommunications, public sector (including road infrastructure), government as well as to the banking and finance sector within the following business lines: BPM business process management, customer service and sales support platform, data registers, smart city, AI & Machine Learning, e-Tax, border control, authentication, dedicated solutions, BI and ERP. The company focuses on selling its proprietary solutions but also offers a full range of integration services for solutions from leading global vendors.

   The Group's financing activities as well as income taxes are monitored at the whole group level and therefore they are not allocated to individual operating segments. The Management also does not analyze assets and liabilities or cash flows in a breakdown by segments. The table below presents the key financial information reviewed by the chief operating decision maker in the Company.

   Revenues from none of our clients exceeded 10% of total sales generated by the Group in the period of 3 months ended 31 March 2026.

   3 months ended 31 March 2026 Banking Solutions Payment Dedicated Eliminations Hyperinflation Total Solutions Solutions PLN'000 PLN'000 PLN'000 PLN'000 PLN'000 PLN'000

   Sales revenues: 92,751 222,313 127,868 (11,856) 3,464 434,540

   Sales to external customers	88,024	218,045	125,007	-	3,464	434,540
   Sales between and/or within segments	4,727	4,268	2,861	(11,856)	-	-
   Selling expenses	(2,833)	(18,285)	(9,233)	-	(356)	(30,707)
   General and administrative expenses	(6,819)	(13,711)	(6,308)	-	(247)	(27,085)
   Other operating activities	23	244	162	-	(1)	428
   Share of profits of associates	-	21	-	-	-	21

   Operating profit 24,929 32,808 225 - (219) 57,743

   Non-cash items

   Depreciation and amortization (3,182) (17,361) (5,627) - (897) (27,067)

   Impairment losses on segment assets

   recognized in operating expenses

   (269) (1,820) (188) - - (2,277)

   Goodwill as at 31 March 2026 205,787 291,513 357,414 - 66,983 921,697

   3 months ended 31 March 2026 Banking Solutions Payment Dedicated Eliminations Hyperinflation Total Solutions Solutions EUR'000 EUR'000 EUR'000 EUR'000 EUR'000 EUR'000
   Sales revenues:	21,865	52,408	30,144	(2,794)	817	102,440
   Sales to external customers	20,751	51,402	29,470	-	817	102,440
   Sales between and/or within segments	1,114	1,006	674	(2,794)	-	-
   Gross profit on sales	8,147	15,214	3,679	-	91	27,131
   Selling expenses	(668)	(4,311)	(2,176)	-	(84)	(7,239)
   General and administrative expenses	(1,608)	(3,231)	(1,488)	-	(58)	(6,385)
   Net profit on sales	5,871	7,672	15	-	(51)	13,507
   Other operating activities	5	58	38	-	-	101
   Share of profits of associates	-	5	-	-	-	5
   Operating profit	5,876	7,735	53	-	(51)	13,613
   Non-cash items
   Depreciation and amortization	(750)	(4,093)	(1,327)	-	(211)	(6,381)
   Impairment losses on segment assets recognized in operating expenses	(63)	(429)	(44)	-	-	(536)

   Goodwill as at 31 March 2026 47,976 67,961 83,325 - 15,616 214,878

   The financial results presented above have been converted at the average exchange rate in the first quarter of 2026: EUR 1 = PLN 4.2419, whereas the financial position data have been converted at the exchange rate effective on 31 March 2026: EUR 1 = PLN 4.2894.

   The financial data of our subsidiaries operating in Turkey were restated due to hyperinflation. The Management analyzes the operations of individual segments and their financial performance without the impact of hyperinflation revaluations. Therefore, the impact of hyperinflation has been disclosed in a separate column in order to reconcile the financial data of segments with the data presented elsewhere in the interim condensed consolidated financial statements.

   3 months ended 31 March 2025 Banking Solutions Payment Dedicated Eliminations Hyperinflation Total (restated) Solutions Solutions PLN'000 PLN'000 PLN'000 PLN'000 PLN'000 PLN'000

   Sales revenues: 81,351 224,848 104,110 (9,938) (47) 400,324

   Sales to external customers	77,190	220,851	102,330	-	(47)	400,324
   Sales between and/or within segments	4,161	3,997	1,780	(9,938)	-	-
   Selling expenses	(4,211)	(16,737)	(8,678)	-	100	(29,526)
   General and administrative expenses	(6,249)	(12,303)	(6,659)	-	(5)	(25,216)
   Other operating activities	(67)	1,097	30	-	(17)	1,043
   Share of profits of associates	-	47	-	-	-	47

   Operating profit 18,579 32,177 (861) - (782) 49,113

   Non-cash items

   Depreciation and amortization	(3,014)	(16,679)	(5,331)	-	(658)	(25,682)
   Impairment losses on segment assets recognized in operating expenses	(25)	(3,206)	(213)	-	-	(3,444)

   Goodwill as at 31 December 2025 202,967 288,193 353,379 - 60,297 904,836

   3 months ended 31 March 2025 Banking Solutions Payment Dedicated Eliminations Hyperinflation Total (restated) Solutions Solutions EUR'000 EUR'000 EUR'000 EUR'000 EUR'000 EUR'000

   Sales revenues: 19,439 53,730 24,877 (2,374) (11) 95,661

   Sales to external customers	18,445	52,775	24,452	-	(11)	95,661
   Sales between and/or within segments	994	955	425	(2,374)	-	-
   Selling expenses	(1,006)	(3,999)	(2,075)	-	24	(7,056)
   General and administrative expenses	(1,493)	(2,940)	(1,591)	-	(1)	(6,025)
   Other operating activities	(16)	262	7	-	(4)	249
   Share of profits of associates	-	11	-	-	-	11

   Operating profit 4,440 7,689 (206) - (187) 11,736

   Non-cash items

   Depreciation and amortization	(720)	(3,986)	(1,274)	-	(157)	(6,137)
   Impairment losses on segment assets recognized in operating expenses	(6)	(766)	(51)	-	-	(823)

   Goodwill as at 31 December 2025 48,020 68,184 83,606 - 14,266 214,076

   The financial results presented above have been converted at the average exchange rate in the first quarter of 2025: EUR 1 = PLN 4.1848, whereas the financial position data have been converted at the exchange rate effective on 31 December 2025: EUR 1 = PLN 4.2267.

2. ‌Explanatory notes to the consolidated statement of profit and loss
   1. ‌Structure of operating revenues

      Operating revenues generated during the period of 3 months ended 31 March 2026 and in the comparative period were as follows:

      3 months ended 3 months ended 31 March 2026 31 March 2025 PLN'000 PLN'000

      Operating revenues by type of products

      Proprietary software and services	340,291	314,519
      Third-party software and services	21,732	18,887
      Hardware and infrastructure	72,517	66,918

      Total 434,540 400,324

      1. Operating revenues of segments in a breakdown by type of products

         Operating revenues of individual segments from sales to external customers by type of products during the period of 3 months ended 31 March 2026 and in the comparative period were as follows:

         Banking Solutions Payment Solutions Dedicated Solutions Total PLN'000 PLN'000 PLN'000 PLN'000

         3 months ended 31 March 2026

         Proprietary software and services	86,074	167,879	86,338	340,291
         Third-party software and services	494	2,219	19,019	21,732
         Hardware and infrastructure	1,568	49,310	21,639	72,517

         Total operating revenues 88,136 219,408 126,996 434,540

         Banking Solutions Payment Solutions Dedicated Solutions Total PLN'000 PLN'000 PLN'000 PLN'000

         3 months ended 31 March 2025

         Proprietary software and services	74,805	163,735	75,979	314,519
         Third-party software and services	796	1,299	16,792	18,887
         Hardware and infrastructure	1,624	54,674	10,620	66,918

         Total operating revenues 77,225 219,708 103,391 400,324

      2. Revenues from contracts with customers by the method of recognition in the statement of profit and loss

         	3 months ended 31 March 2026 PLN'000	3 months ended 31 March 2025 PLN'000
         Revenues from contracts with customers recognized in accordance with IFRS 15, of which:	405,481	374,120

         From goods and services transferred at a specific point in time	92,652	87,808
         From goods and services transferred over the passage of time	312,829	286,312

         Other operating revenues (mainly from leases) 29,059 26,204

         Total operating revenues 434,540 400,324

         Operating revenues not recognized in accordance with IFRS 15 mainly relate to the Group's revenues from ATM and POS terminal outsourcing services. Such contracts are treated as operating lease agreements, and the revenues from them are recognized in accordance with IFRS 16.

      3. Operating revenues in a breakdown by countries where they were generated

         3 months ended 3 months ended 31 March 2026 31 March 2025 PLN'000 PLN'000

         Operating revenues by countries

         Albania	4,901	3,771
         Austria	4,348	4,324
         Bosnia and Herzegovina	29,315	30,278
         Bulgaria	5,452	7,689
         Croatia	64,944	48,109
         Montenegro	8,250	5,621
         Czech Republic	5,907	6,061
         Dominicana	4,193	1,052
         Spain	29,063	37,618
         Kosovo	6,920	7,383
         Macedonia	23,862	14,777
         Peru	5,329	5,844
         Poland	1,334	2,117
         Portugal	12,480	12,245
         Romania	45,715	41,506
         Serbia	115,587	98,153
         Slovak Republic	3,899	2,599
         Slovenia	6,328	5,260
         Turkey	45,169	46,444
         Other countries	11,544	19,473

         Total operating revenues 434,540 400,324

      4. Outsourcing contracts - the Group acting as a lessor

      The Group implements a number of contracts for outsourcing of payment transaction processes. The total amounts of future minimum lease payments receivable under such contracts have been estimated as follows:

      31 March 2026 31 March 2025 PLN'000 PLN'000

      Future minimum lease payments

      (i) within 1 year	120,096	107,442
      (ii) within 1 to 5 years	88,736	75,132
      (iii) within more than 5 years	5,083	3,678

      Total 213,915 186,252

   2. ‌Structure of operating costs

      The table below presents operating costs incurred in the period of 3 months ended 31 March 2026 and in the comparative period.

      Operating costs	3 months ended 31 March 2026 PLN'000	3 months ended 31 March 2025 PLN'000
      Cost of goods, materials and third-party services sold (COGS)	(132,193)	(115,278)
      Employee benefits	(163,398)	(157,834)
      Third-party non-project services and outsourcing of employees	(21,050)	(21,236)
      Depreciation and amortization	(27,067)	(25,682)
      Maintenance costs of property and company cars	(20,897)	(19,339)
      Business trips	(1,616)	(2,380)
      Advertising	(3,522)	(2,653)
      Recognition (reversal) of allowances for trade receivables	(2,230)	(3,457)
      Write-off for impairment of tangible and intangible assets	(47)	12
      Other operating expenses	(5,226)	(4,454)
      Total (377,246) (352,301)
      Cost of sales	(317,224)	(294,102)
      Selling expenses	(30,707)	(29,526)
      General and administrative expenses	(27,085)	(25,216)
      Allowances for trade receivables	(2,230)	(3,457)

      Total (377,246) (352,301)

      Third-party non-project services comprise consulting and advisory services not related to specific projects, as well as auditing, legal, banking, postal, courier services, and stock exchange fees.

      Maintenance costs of property and company cars include the costs of repairs of equipment and spare parts used for the executed projects, costs of repairs and maintenance of property, plant and equipment (including infrastructure provided under outsourcing contracts), maintenance costs of intangible assets, office space rental and maintenance fees, as well as maintenance of company cars.

      Share-based payment transactions with employees

      Currently, the Group has two share-based payment plans as defined in IFRS 2 which are settled in equity instruments. Detailed information on the both share-based payment plans has been presented in explanatory note 5.2 to the annual consolidated financial statements of ASEE Group for 2025 which were published on 25 February 2026.

      2021 plan

      On 23 September 2021, Asseco International a.s. and managers of ASEE Group companies signed agreements for the acquisition of shares in ASEE S.A. The whole incentive plan covers 547,550 shares of ASEE S.A. which represent 1.06% of the Company's share capital. Members of the Management Board of ASEE S.A. as well as parties related through Members of the Management Board of ASEE S.A. acquired 341,336 shares in total.

      The above-mentioned agreements constitute an equity-settled share-based payment transaction as defined by IFRS 2.

      The standalone financial statements present the costs related to the acquisition of 316,425 shares, including 280,000 shares acquired by Piotr Jeleński, CEO of ASEE S.A., and 25,000 shares acquired by Michał Nitka, Member of the Management Board of ASEE S.A.

      The costs of this share-based payment plan disclosed in the interim condensed consolidated financial statements of ASEE Group for the period of 3 months ended 31 March 2026 amounted to PLN 42 thousand (PLN 70 thousand in the first quarter of 2025). In correspondence, this transaction was recognized as a separate item of the Group's equity, in the same amount as disclosed in remuneration costs.

      2022 plan

      On 22 August 2022, ASEE S.A. signed agreements to sell shares in Payten Holding S.A. to the managers of ASEE Group companies. The whole incentive plan covers 426,571 shares of Payten Holding S.A. which represent 0.93% of the company's share capital.

      The above-mentioned agreements constitute an equity-settled share-based payment transaction as defined by IFRS 2.

      The costs of this share-based payment plan disclosed in the interim condensed consolidated financial statements of ASEE Group for the period of 3 months ended 31 March 2026 amounted to PLN 123 thousand (PLN 80 thousand in the first quarter of 2025). In correspondence, this transaction was recognized as a separate item of the Group's equity, in the same amount as disclosed in remuneration costs.

      i. Reconciliation of depreciation and amortization charges

      3 months ended	3 months ended
      31 March 2026	31 March 2025
      PLN'000	PLN'000
      Depreciation charges as disclosed in the table of changes in property, plant and (15,319)	(13,380)
      Amortization charges as disclosed in the table of changes in intangible assets (5,984)	(6,832)
      Depreciation charges as disclosed in the table of changes in right-of-use assets (5,933)	(5,627)
      Depreciation charges on investment property -	(5)
      Reduction of amortization charges due to recognition of grants to internally generated 169	162

      The table below presents the reconciliation of depreciation and amortization charges recognized in the statement of profit and loss with those disclosed in the tables of changes in property, plant and equipment, as well as in intangible assets:

      equipment

      licenses

      Total depreciation and amortization charges disclosed in the statement of profit and

      loss and in the statement of cash flows

      (27,067)

      (25,682)

   3. ‌Other operating income and expenses

      Other operating income and expenses in the period of 3 months ended 31 March 2026 and in the comparative period were as follows:

      Other operating income	3 months ended 31 March 2026 PLN'000	3 months ended 31 March 2025 PLN'000
      Gain on disposal of property, plant and equipment	233	397
      Income from letting of own office space	63	75
      Reversal of a provision for the costs of court litigation relating to other operations	-	32
      Grants and subsidies received	-	124
      Gain from lease modification	89	7
      Other	464	753

      Total 849 1,388

      Other operating expenses	3 months ended 31 March 2026 PLN'000	3 months ended 31 March 2025 PLN'000
      Loss on disposal of property, plant and equipment	(7)	(10)
      Charitable contributions to unrelated parties	(94)	(162)

      Provisions created, including for the costs of court litigation relating to other

      operations

      (128) -

      Allowances for other receivables - -

      Other (192) (173)

      Total (421) (345)

   4. ‌Financial income and expenses

      Financial income earned during the period of 3 months ended 31 March 2026 and in the comparative period was as follows:

      	3 months ended	3 months ended
      Financial income	31 March 2026	31 March 2025
      	PLN'000	PLN'000
      Interest income on loans granted and bank deposits	1,879	2,433
      Positive foreign exchange differences	3,694	3,921
      Gain on exercise and/or valuation of financial assets carried at fair value through profit or loss	-	-
      Gain on remeasurement of contingent consideration in a business combination	-	2,023
      Gain on remeasurement of liability for non-controlling interests (put options)	5,783	1,246
      Gain on the net monetary position - hyperinflation	7,754	7,034

      Gain on remeasurement of the receivable arising from the disposal of a

      subsidiary

      1,901

      Total financial income 21,546 16,847

      Other financial income 535 190

      Gain on the net monetary position resulted from the inflation-related revaluation of non-monetary items in the statement of financial position and the statement of profit and loss of our subsidiaries operating in Turkey, using the rate of inflation in the current year. The revaluation has been described in detail in explanatory note 2.10 to these interim condensed consolidated financial statements.

      	3 months ended	3 months ended
      Financial expenses	31 March 2026 PLN'000	31 March 2025 PLN'000
      Interest expenses on bank loans and borrowings	(1,337)	(1,589)
      Interest expenses on leases	(890)	(901)
      Other interest expenses	(182)	(138)
      Negative foreign exchange differences	(3,409)	(2,230)

      Financial expenses incurred during the period of 3 months ended 31 March 2026 and in the comparative period were as follows:

      Loss on remeasurement of contingent consideration in business combination and/or acquisition of non-controlling interests

      (489) (6,144)

      Loss on remeasurement of liability for non-controlling interests (put options) (693) (789)

      Loss on exercise and/or valuation of financial assets carried at fair value through profit or loss

      - (4)

      Loss on disposal of subsidiaries - (6,534)

      Dividends declared payable to minority shareholders in acquisitions accounted for using the present ownership method

      (13,063) -

      Other financial expenses (4) (12)

      Total financial expenses (20,067) (18,341)

      Dividends declared to non-controlling interests arise from acquisitions accounted for using the present ownership method and relate to the following subsidiaries: Dwelt and Ifthenpay.

      Gain on remeasurement of the receivable arising from the disposal of a subsidiary relates to the receivable from the sale of Mobven, which was remeasured following the execution of an amendment to the sale agreement and a revision of the repayment schedule.

      The loss on disposal of investments in subsidiaries presented in comparative period relates to Mobven, over which the Group lost control on 11 February 2025 following the sale of all shares held in the subsidiary.

      Positive and negative foreign exchange gains and losses are presented net (i.e., as the excess of gains over losses or vice versa) at the level of each subsidiary.

      Gains/losses on remeasurement of contingent consideration for controlling interests in subsidiaries result from changes in estimates of deferred, contingent liabilities arising from the acquisition of controlling interests in subsidiaries.

      Gains/losses on remeasurement of liabilities for non-controlling interests (put options) arise from changes in estimates used to determine liabilities under put option agreements, where contract terms transfer the benefits of ownership of the equity instrument subject to the put option to the parent company (i.e., present ownership method).

   5. ‌Income tax expense

      The main components of income tax expenses (current and deferred portions):
      	3 months ended 31 March 2026	3 months ended 31 March 2025
      	PLN'000	PLN'000
      Current income tax expense as disclosed in the statement of profit and loss, of which:	(11,914)	(10,226)
      Current portion of income tax	(12,177)	(10,211)
      Corrections of CIT filings for prior years	263	(15)
      Deferred income tax	(164)	767

      Income tax expense as disclosed in the statement of profit and loss (12,078) (9,459)

      During the period of 3 months ended 31 March 2026, our effective tax rate equalled 20,4%, as compared to 19.9% in the comparative period.

      The Group operates in multiple tax jurisdictions and is subject to various tax laws and regulations. In each country, rules regarding value-added tax, corporate income tax, personal income tax, and social security contributions are subject to frequent changes, and established precedents are often limited. Applicable tax regulations are not always clear, which may result in differing interpretations. Tax filings may be subject to review or audit by tax authorities. In the event of identified non-compliance, the taxpayer may be required to settle any outstanding tax liabilities with statutory interest. Payment of such amounts does not necessarily exempt the Group from potential administrative or criminal liability. These factors contribute to a relatively high degree of uncertainty regarding the Group's tax positions.

      Tax audits may cover several prior years, depending on the jurisdiction in which a Group company operates. Consequently, the amounts recognized in the financial statements may be adjusted in the future upon final determination by tax authorities.

      Global Minimum Tax (Pillar II)

      The Global Minimum Tax (Pillar II) regulations impose new tax and reporting obligations on companies belonging to capital groups - both Polish and international - with consolidated revenues of at least EUR 750 million. The ASEE Group is part of the Asseco Poland Group, which meets the above revenue criterion and is therefore subject to Pillar II regulations.

      The Pillar II reform aims to combat base erosion and profit shifting (BEPS) by introducing a global minimum effective tax rate of 15% on eligible income. The effective tax rate, not the nominal rate, is used in the calculation. This tax is calculated at the level of individual countries (jurisdictions), meaning that it generally applies collectively to all group companies in a given country.

      Pillar II rules became effective in Poland in 2025, while in certain other jurisdictions they were effective from 2024. The ASEE Group continuously monitors legislative developments related to Pillar II implementation in all jurisdictions where its subsidiaries operate and evaluates the potential impact on the Group's operations.

      As of the date of publication of these consolidated financial statements for first quarter of 2026, the global minimum tax regulations have been implemented in 13 countries where the Group operates: Poland, Bulgaria, Montenegro, Spain, Portugal, Croatia, the Czech Republic, Slovakia, Slovenia, Romania, Turkey, the United Arab Emirates, and Macedonia. In the remaining jurisdictions where Group companies currently operate, implementation is ongoing or has not yet begun.

      The Group has collected preliminary data and assessed the potential application of transitional safe harbours based on Country-by-Country Reporting (CbCR) and local reporting packages. With respect to 2024 and 2025, the Group intends to make use of the option to centrally file the GloBE Information Return (GIR) through a

      designated entity within the Asseco Poland Group, taking into account the information exchange mechanisms provided for under DAC9 and the GIR MCAA.

      Based on financial data for the years 2024-2025, covering exclusively ASEE subsidiaries, the Group performed a preliminary internal assessment of the impact of Pillar Two and recognised a tax liability of PLN 4,482 thousand in prior periods. Based on data for the first quarter of 2026, the estimate of the additional liability arising from the international tax reform was not material and, accordingly, was not recognised in the consolidated financial statements. The estimated liability also depends on the financial results of other Asseco Poland subsidiaries operating in the same tax jurisdictions as the ASEE Group companies. Therefore, the final amount of the top-up tax may differ from the current estimates.

      The Group has applied the mandatory exception for the recognition and disclosure of deferred tax assets and liabilities related to income taxes under Pillar 2, in accordance with the amendments to IAS 12 issued in May 2023.

   6. ‌Earnings per share

      Both during the reporting period and the comparative period, there were no instruments that could potentially dilute basic earnings per share, hence our basic earnings per share and diluted earnings per share are equal. The table below presents net profits and numbers of shares used for the calculation of earnings per share.

      3 months ended

      31 March 2026

      3 months ended

      31 March 2025

      Weighted average number of ordinary shares outstanding, used for calculation

      51,894,251 51,894,251

      of basic earnings per share

      Net profit attributable to shareholders of the Parent Company for the reporting

      47,510 35,845

      period (in thousands of PLN)

      Consolidated earnings per share for the reporting period (in PLN) 0.92 0.69

   7. ‌Information on dividends paid out

   Until 31 March 2026, the General Meeting has not yet adopted a resolution on distribution of the Parent Company's net profit for the year 2025. However, on 25 February 2026, in line with the Management's proposal presented at the Supervisory Board meeting, the Supervisory Board passed a resolution to recommend to the Company's General Meeting to approve payment of a dividend for the year 2025 in the amount of PLN 1.95 per share. The total amount allocated to the dividend payment equals PLN 101 194 thousand.

   In 2025, the Parent Company paid out to its shareholders a dividend for the year 2024. The Ordinary General Meeting of Shareholders of Asseco South Eastern Europe S.A. with its registered office in Rzeszów, acting under Article 395 § 2 item 2) and Article 396 § 1 of the Commercial Companies Code and under §12 section 4 item 2) of the Company's Articles of Association, resolved on 4 June 2025 to pay a dividend of PLN 90,815 thousand, equivalent to PLN 1.75 per share, to all shareholders of the Company. The record date for entitlement to the dividend was set at 3 July 2025, and the dividend was paid on 10 July 2025. The total number of shares entitled to the dividend was 51,894,251.

3. ‌Explanatory notes to the consolidated statement of financial position