Consolidated Quarterly Report for the 3rd Quarter of 2025

‌Quarterly Report

Present in

26 countries

Sales revenues

PLN 1,263.9 million

4,077

highly committed employees

Net profit

for Shareholders

of the Parent Company

PLN 133.2 million

Quarterly Report of Asseco South Eastern Europe Group for the period of 9 months ended 30 September 2025

INTERIM CONDENSED CONSOLIDATED FINANCIAL STATEMENTS OF ASSECO SOUTH EASTERN EUROPE GROUP

FOR THE PERIOD OF 9 MONTHS ENDED 30 SEPTEMBER 2025 1

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, presentation currency and hyperinflation 14

   5. Professional judgement and estimates 14

   6. Accounting policies applied 14

   7. New standards and interpretations published but not in force yet 14

   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 22

4. INFORMATION ON OPERATING SEGMENTS 25

5. EXPLANATORY NOTES TO THE CONSOLIDATED STATEMENT OF PROFIT AND LOSS 28

   1. Structure of operating revenues 28

   2. Structure of operating costs 30

   3. Other operating income and expenses 31

   4. Financial income and expenses 32

   5. Corporate income tax 33

   6. Earnings per share 34

   7. Information on dividends paid out 34

6. EXPLANATORY NOTES TO THE CONSOLIDATED STATEMENT OF FINANCIAL POSITION 36

   1. Property, plant and equipment 36

   2. Intangible assets 36

   3. Right-of-use assets 37

   4. Goodwill 37

   5. Other financial assets 44

   6. Prepayments and accrued income 45

   7. Receivables and contract assets 45

   8. Inventories 46

   9. Cash and cash equivalents 47

   10. Lease liabilities 47

   11. Bank loans and borrowings 48

   12. Other financial liabilities 49

   13. Trade payables, state budget liabilities and other liabilities 49

   14. Contract liabilities 50

   15. Provisions 50

   16. Accruals and deferred income 51

   17. Related party transactions 51

7. EXPLANATORY NOTES TO THE CONSOLIDATED STATEMENT OF CASH FLOWS 53

   1. Cash flows - operating activities 53

   2. Cash flows - investing activities 53

   3. Cash flows - financing activities 53

8. OTHER EXPLANATORY NOTES 55

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

FOR THE PERIOD OF 9 MONTHS ENDED 30 SEPTEMBER 2025 58

1. FINANCIAL RESULTS OF ASSECO SOUTH EASTERN EUROPE GROUP FOR THE THIRD QUARTER OF 2025 59

2. FINANCIAL RESULTS OF ASSECO SOUTH EASTERN EUROPE GROUP FOR THE PERIOD OF 9 MONTHS

   ENDED 30 SEPTEMBER 2025 /CUMULATIVE/ 64

3. ANALYSIS OF FINANCIAL RATIOS 69

4. STRUCTURE OF THE STATEMENT OF CASH FLOWS 70

5. INFORMATION ON GEOGRAPHICAL STRUCTURE OF FINANCIAL RESULTS 71

6. NON-RECURRING EVENTS WITH IMPACT ON OUR FINANCIAL PERFORMANCE 73

7. AUTHORITIES OF ASSECO SOUTH EASTERN EUROPE S.A 73

8. SHAREHOLDERS STRUCTURE OF ASSECO SOUTH EASTERN EUROPE S.A 73

9. OTHER INFORMATION 74

INTERIM CONDENSED FINANCIAL STATEMENTS OF ASSECO SOUTH EASTERN EUROPE S.A.

FOR THE PERIOD OF 9 MONTHS ENDED 30 SEPTEMBER 2025 77

FINANCIAL HIGHLIGHTS 78

Interim Condensed Statement of Profit and Loss and Other Comprehensive Income 79

Interim Condensed Statement of Financial Position 80

Interim Condensed Statement of Changes in Equity 82

Interim Condensed Statement of Cash Flows 83

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

• Items of the consolidated statement of profit and loss and consolidated statement of cash flows have been translated into EUR at the arithmetic average of mid exchange rates as published by the National Bank of Poland and in effect on the last day of each month. These exchange rates were as follows:

  • for the period from 1 January 2025 to 30 September 2025: EUR 1 = PLN 4.2365

  • for the period from 1 January 2024 to 30 September 2024: EUR 1 = PLN 4.3022

• The Group's cash and cash equivalents as at the end of the reporting period and the comparable period of the previous year have been translated into EUR at the mid exchange rates as published by the National Bank of Poland. These exchange rates were as follows:

  • exchange rate effective on 30 September 2025: EUR 1 = PLN 4.2692

  • exchange rate effective on 31 December 2024: EUR 1 = PLN 4.2730

In this report, all figures are presented in thousands of Polish zlotys (PLN), unless stated otherwise.

Net gain/loss on valuation of financial assets 28 141 19 113

Exchange differences on translation of foreign operations

8,511 (44,426) (27,227) (42,173)

Actuarial gains/losses - - - -

Non-controlling interests (16,803) (17,569) 1,531 3,013

* The restatement has been disclosed in detail in explanatory note 2.8 to these interim condensed consolidated financial statements.

* The restatement has been disclosed in detail in explanatory note 2.8 to these interim condensed consolidated financial statements.

Acquisition of property, plant and equipment, and intangible assets (including R&D expenditures)

7.2 (62,557) (38,930)

Acquisition of subsidiaries, net of cash and cash equivalents in subsidiaries acquired 7.2 (22,716) (80,931)

Acquisition/settlement of financial assets carried at fair value through profit or loss - -

Acquisition/settlement of financial assets carried at fair value through other comprehensive

(671) (549)

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 14 Olchowa St., Rzeszów, Poland

   National Court Register number 0000284571

   Statistical ID number (REGON) 180248803

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

   Core business Activities of head offices and holdings, production of software

   The Parent Company Asseco South Eastern Europe S.A. based in Rzeszów, Poland, was established on 10 April 2007 as a joint stock company called Asseco Adria S.A. On 11 July 2007, the Company was entered in the register of entrepreneurs maintained by the District Court in Rzeszów, XII Commercial Department of the National Court Register, under the number KRS 0000284571. The Parent Company has been assigned the statistical number REGON 180248803. On 11 February 2008, the Parent Company's corporate name was changed from Asseco Adria S.A. to Asseco South Eastern Europe S.A.

   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 Asseco South Eastern Europe Group. The Parent Company shall operate within the territory of the Republic of Poland as well as abroad. The time of duration of both the Parent Company and the entities incorporated in the Group is indefinite.

   The Group delivers complete solutions and proprietary software necessary to run a bank, as well as state-of-the-art payment solutions helping shape the payments market in the region, and provides integration and implementation services for IT systems and hardware from the world's major vendors. The Group conducts business operations in the countries of Central Europe, South Eastern Europe, Iberian Peninsula, and in Egypt, Turkey, Colombia, Peru, Dominican Republic, as well as in India and the United Arab Emirates.

   The scope of Asseco South Eastern Europe Group's core business broken down by relevant segments is

   described in section IV of these interim condensed consolidated financial statements.

   The parent company of ASEE S.A. is Asseco International a.s. ("AI") based in Bratislava, Slovakia which is part of Asseco Poland Group. As at 30 September 2025, AI held 26,407,081 shares representing 50.89% in the share capital of our Company, which carried 26,407,081 votes or 50.89% of total voting rights at the Company's General Meeting of Shareholders. The ultimate parent company of the entire Asseco Poland Group is Asseco Poland S.A. based in Rzeszów, Poland.

   These interim condensed consolidated financial statements cover the period of 9 months ended 30 September 2025 and contain comparable data for the period of 9 months ended 30 September 2024 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 2024 in case of the statement of financial position.

   Asseco South Eastern Europe Group

2. ‌Basis for the preparation of interim condensed financial statements

   1. ‌Basis for preparation

      These interim condensed consolidated financial statements have been prepared in accordance with the historical cost convention, except for financial assets carried at fair value through profit or loss or through other comprehensive income, financial assets carried at amortized cost, as well as financial liabilities carried at fair value through profit or loss. In addition, our subsidiaries operating in a hyperinflationary economy (Turkey) restated their financial data, taking into account the change in purchasing power based on the general price index, so that they were expressed in the measuring units current at the end of the reporting period. The impact of hyperinflation on our consolidated financial statements has been 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 2024 which were published on 26 February 2025.

      These interim condensed consolidated financial statements have been prepared on a going-concern basis, assuming the Group will continue its business activities over a period not shorter than 12 months from 30 September 2025. Till the date of preparing these interim condensed consolidated financial statements, we have not observed any circumstances that would threaten 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 as a going concern over a period not shorter than 12 months from 30 September 2025 is not threatened.

      The Russian invasion of Ukraine launched in 2022 caused a radical change in the geopolitical situation of the entire region of Central and South Eastern Europe, while political tensions and military actions in Israel, the Gaza Strip and Lebanon are affecting the stability of the Middle East region. The Group continues to analyze geopolitical developments and their impact on the Group's financial position and financial performance in the future. It is difficult to assess further development of the war and thus its long-term economic consequences for this region of Europe and the United Arab Emirates, as well as its impact on the overall macroeconomic situation which indirectly affects the financial results of ASEE Group.

      In 2022, Turkey was recognized as a country with a hyperinflationary economy. The Group consolidates the financial results of several subsidiaries operating in Turkey, including ASEE Turkey, Payten Turkey, and Paratika, whose functional currency is that of a hyperinflationary economy. Therefore, these interim condensed consolidated financial statements contain the financial data of our subsidiaries operating in Turkey adjusted for the rate of inflation so that they reflected changes in the appropriate price index. The effects of hyperinflation adjustments have been 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 conformity with the requirements set forth in the International Accounting Standard 34 'Interim Financial Reporting' as endorsed by the European Union (IAS 34).

      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 29 March 2018 regarding current and periodic information to be published by issuers of securities and conditions for recognizing as equivalent the information required by laws of non-EU member states (consolidated text: Journal of Laws of 2018, item 757) ("Regulation"), and covers the reporting period from 1 January to 30 September 2025 and the comparable period from 1 January to 30 September 2024 in case of the statement of profit and loss and the statement of cash flows, as well as the financial position data as at 30 September 2025 and the comparable data as at 31 December 2024 in case of the statement of financial position.

      Some of the Group companies maintain their accounting books in accordance with the accounting policies set forth in their respective local regulations. The interim condensed consolidated financial statements include adjustments not disclosed in the accounting books of the Group's entities which were introduced to adjust the financial statements of those entities to IFRS.

   4. ‌Functional currency, presentation currency and hyperinflation

      The presentation currency of these interim condensed consolidated financial statements is the Polish zloty (PLN) and all figures are presented in thousands of PLN (PLN'000), unless stated otherwise. Any inaccuracies in totals, amounting to PLN 1 thousand, are due to the adopted rounding of numbers.

      The functional currency applied by the Parent Company and, at the same time, the presentation currency used in these interim condensed consolidated financial statements is the Polish zloty (PLN). Functional currencies applied by our subsidiaries consolidated in these financial statements are the currencies of primary business environments in which they operate. For consolidation purposes, financial statements of our foreign subsidiaries are translated into PLN using the respective currency exchange rates as quoted by the National Bank of Poland at the end of the reporting period in case of the statement of financial position, or using the arithmetic average of exchange rates as published by the National Bank of Poland and effective on the last day of each month during the reporting period in case of the statement of comprehensive income as well as the statement of cash flows. The effects of such conversion are recognized in equity as 'Exchange differences on translation of foreign operations'.

   5. ‌Professional judgement and estimates

      Preparation of consolidated financial statements in accordance with IFRS requires making estimates and assumptions which have an impact on the data disclosed in such financial statements. Although the adopted assumptions and estimates have been based on the Group's management best knowledge on the current activities and occurrences, the actual results may differ from those anticipated.

      In the period of 9 months ended 30 September 2025, our approach to making estimates was not subject to any substantial modification in relation to the principles described in the consolidated financial statements for the year ended 31 December 2024.

   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 2024 which were published on 26 February 2025.

      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 2024, except for the adoption of amendments to standards that have become effective from 1 January 2025.

      New standards or amendments effective from 1 January 2025:

      • Amendments to IAS 21 'The Effects of Changes in Foreign Exchange Rates: Lack of Exchangeability'

        (issued on 15 August 2023) - effective for annual periods beginning on or after 1 January 2025.

        The amended standards and interpretations that were first applied in 2025 had no significant impact on the interim condensed 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 18 'Presentation and Disclosure in Financial Statements' (issued on 9 April 2024) - not yet endorsed by the EU till the date of approval of these financial statements - effective for annual periods beginning on or after 1 January 2027;

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

      • Amendments to IFRS 9 and IFRS 7 'Contracts Referencing Nature-dependent Electricity' (issued on

        18 December 2024) - effective for annual periods beginning on or after 1 January 2026;

      • Annual Improvements to IAS/IFRS - Volume 11 (issued on 18 July 2024) - effective for annual periods beginning on or after 1 January 2026;

      • Amendments to IFRS 9 and IFRS 7 'Classification and Measurement of Financial Instruments' (issued on

      30 May 2024) - effective for annual periods beginning on or after 1 January 2026.

      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 December 2024 as well as for the period of 9 months ended 30 September 2024 due to changes in the values of assets acquired that were recognized in the purchase price allocation of our subsidiaries: WEO, Askepnet and Touras. Detailed information on the acquired assets and liabilities of these companies has been presented in explanatory note 6.4 to these interim condensed consolidated financial statements.

      The tables below present how the said changes affected the comparable data disclosed for the period of 9 months ended 30 September 2024:

      STATEMENT OF PROFIT AND LOSS	9 months ended 30 September 2024	Purchase price allocation of	9 months ended 30 September 2024
      	PLN'000	subsidiaries PLN'000	(restated) PLN'000
      Operating revenues	1,209,461	-	1,209,461
      Cost of sales	(899,979)	(29)	(900,008)
      Allowances for trade receivables	(4,526)	-	(4,526)
      Gross profit on sales 304,956 (29) 304,927
      Selling costs	(76,791)	-	(76,791)
      General and administrative expenses	(74,865)	-	(74,865)
      Net profit on sales 153,300 (29) 153,271
      Other operating income	2,330	-	2,330
      Other operating expenses	(1,108)	-	(1,108)
      Share of profits of associates	78	-	78
      Operating profit 154,600 (29) 154,571
      Financial income	44,447	(57)	44,390
      Financial expenses	(23,150)	-	(23,150)
      Impairment loss on financial instruments	(16)	-	(16)
      Pre-tax profit 175,881 (86) 175,795
      Corporate income tax (current and deferred tax expense)	(31,155)	6	(31,149)
      Net profit for the reporting period 144,726 (80) 144,646
      Attributable to:
      Shareholders of the Parent Company 141,001 (80) 140,921
      Non-controlling interests	3,725	-	3,725
      Basic and diluted consolidated earnings per share for the reporting period, attributable to shareholders of the Parent	2.72	-	2.72
      Company (in PLN)

      OTHER COMPREHENSIVE INCOME Net profit for the reporting period 144,726 (80) 144,646

      Components that may be reclassified to profit or loss (42,174) 114 (42,060)

      Net gain/loss on valuation of financial assets	113	-	113
      Exchange differences on translation of foreign operations	(42,287)	114	(42,173)
      Components that will not be reclassified to profit or loss - - -
      Actuarial gains/losses	-	-	-

      Total other comprehensive income	(42,174)	114	(42,060)
      TOTAL COMPREHENSIVE INCOME attributable to:	102,552	34	102,586
      Shareholders of the Parent Company	99,539	34	99,573

      Non-controlling interests 3,013 - 3,013

      9 months ended Banking Payment Dedicated Change - Change - Change - Banking Payment Dedicated Banking Payment Dedicated 30 September 2024 Solutions Solutions Solutions Solutions Solutions Solutions Solutions Solutions Solutions (restated) PLN'000 PLN'000 PLN'000 PLN'000 PLN'000 PLN'000 PLN'000 PLN'000 PLN'000

      Operating revenues 228,119 628,703 372,257 - - - 228,119 628,703 372,257

      Sales to external customers 213,874	620,062	367,545	-	-	-	213,874	620,062	367,545
      Sales between and/or within 14,245	8,641	4,712	-	-	-	14,245	8,641	4,712
      Selling costs (12,354)	(41,442)	(22,596)	-	-	-	(12,354)	(41,442)	(22,596)
      General and administrative (19,050)	(35,308)	(19,936)	-	-	-	(19,050)	(35,308)	(19,936)

      segments

      Gross profit on sales 79,386 191,445 33,867 - (29) - 79,386 191,416 33,867

      Net profit on sales 47,982 114,695 (8,665) - (29) - 47,982 114,666 (8,665)

      expenses

      Other operating activities 6 472 763 - - - 6 472 763

      Operating profit 47,988 115,245 (7,902) - (29) - 47,988 115,216 (7,902)

      Share of profits of associates - 78 - - - - - 78 -

      The tables below present how the said changes affected the comparable data disclosed as at 31 December 2024:

      31 December 2024 Purchase price 31 December 2024 allocation of (restated) ASSETS subsidiaries PLN'000 PLN'000 PLN'000

      Non-current assets

      Property, plant and equipment	174,175	-	174,175
      Intangible assets	90,278	-	90,278
      Right-of-use assets	68,848	-	68,848
      Investment property	436	-	436
      Goodwill	1,018,670	3,289	1,021,959
      Investments accounted for using the equity method	265	-	265
      Other receivables	5,850	-	5,850
      Deferred tax assets	11,711	-	11,711
      Other financial assets	2,481	-	2,481
      Prepayments and accrued income	3,090	-	3,090

      1,375,804 3,289 1,379,093

      Current assets

      Inventories	109,968	-	109,968
      Prepayments and accrued income	61,562	-	61,562
      Trade receivables	292,385	(916)	291,469
      Contract assets	87,249	-	87,249
      Corporate income tax receivable	4,662	-	4,662
      Receivables from the state and local budgets	15,841	-	15,841
      Other receivables	71,917	-	71,917
      Other non-financial assets	4,924	-	4,924
      Other financial assets	4,079	-	4,079
      Cash and cash equivalents	271,211	-	271,211
      923,798 (916) 922,882
      Assets held for sale	15,320	-	15,320

      	939,118	(916)	938,202
      TOTAL ASSETS	2,314,922	2,373	2,317,295

      31 December 2024 Purchase price 31 December 2024 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	(162,161)	(2,694)	(164,855)
      Other capitals	1,580	-	1,580
      Exchange differences on translation of foreign operations	(224,666)	2	(224,664)
      Retained earnings	904,253	-	904,253

      	1,076,775	(2,692)	1,074,083
      Non-controlling interests	8,424	-	8,424
      Total equity	1,085,199	(2,692)	1,082,507
      Non-current liabilities

      Bank loans and borrowings	85,820	-	85,820
      Lease liabilities	47,983	-	47,983
      Other financial liabilities	394,195	-	394,195
      Deferred tax liabilities	14,575	-	14,575
      Provisions	5,543	5,065	10,608
      Deferred income	1,045	-	1,045
      Accruals	423	-	423
      Contract liabilities	8,541	-	8,541
      Other liabilities	54	-	54

      558,179 5,065 563,244

      Current liabilities

      Bank loans and borrowings	76,912	-	76,912
      Lease liabilities	17,650	-	17,650
      Other financial liabilities	46,849	-	46,849
      Trade payables	195,073	-	195,073
      Contract liabilities	127,737	-	127,737
      Corporate income tax payable	9,601	-	9,601
      Liabilities to the state and local budgets	45,151	-	45,151
      Other liabilities	104,482	-	104,482
      Provisions	3,086	-	3,086
      Deferred income	660	-	660
      Accruals	40,206	-	40,206
      667,407 - 667,407
      Liabilities directly related to assets held for sale	4,137	-	4,137

      	671,544	-	671,544
      TOTAL LIABILITIES	1,229,723	5,065	1,234,788
      TOTAL EQUITY AND LIABILITIES	2,314,922	2,373	2,317,295

   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 to which IAS 29 'Financial Reporting in Hyperinflationary Economies' is applied. The Group has identified hyperinflation in Turkey on the basis of qualitative and quantitative factors existing in this country, and in particular because the three-year cumulative inflation rate 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 our Turkey-based subsidiaries have been restated to reflect the purchasing power at the end of the reporting period, based on the consumer price index (CPI) as 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 the purchasing power at the reporting date. Monetary items such as receivables, liabilities, bank debt, etc. already reflect the purchasing power at the reporting date because these items are composed of balances, amounts of receivables or payables in

       respective monetary units. IAS 29, in conjunction with IAS 21 on foreign currency translation, also requires all transactions carried out in a hyperinflationary currency, i.e. Turkish lira (TRY), to be translated into the Group's presentation currency, i.e. Polish zloty (PLN), using the exchange rate effective on the reporting date. Therefore, in the current reporting period all transactions conducted in Turkey were converted into PLN using the exchange rate effective on 30 September 2025; whereas, all transactions conducted in Turkey in the period of 9 months ended 30 September 2024 were converted into PLN using the exchange rate of 30 September 2024, although the Group usually translates transactions in the statement of profit and loss at the average exchange rate for the given 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 9 months ended 30 September 2025 reached 25%.

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

         Inflation rate for particular periods

         September 2025 - December 2024 25%

         September 2025 - September 2024 33%

         December 2024 - December 2023 44%

         December 2023 - December 2022 65%

         Three-year cumulative inflation rate

September 2025 - September 2022 222%

December 2024 - December 2021 291%

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, which is contrary to the Group's usual practice of translating the statement of profit and loss at the average exchange rate for the reporting period. As at 30 September 2025, this exchange rate was: TRY 1 = PLN 0.0873.

Assumptions for the approach and timing of hyperinflation restatements:

• Hyperinflation restatements in the local currency

  • The Group has analyzed items of the statement of financial position of its subsidiaries in Turkey and divided them into monetary and non-monetary assets/liabilities. Monetary items have not been restated because they are already expressed in terms of the monetary unit current at the end of the reporting period.

  • Significant non-monetary items existing in our Turkish subsidiaries include: goodwill arising from the acquisition of these companies, property, plant and equipment, intangible assets, right-of-use asset, prepayments, and liabilities from contracts with customers. Right-of-use assets have not been additionally revalued because they are periodically indexed by the inflation rate. Other non-monetary items have been restated to reflect the effects of inflation based on changes in the price index. Effects of changes in the price index in the period from initial recognition till 31 December 2024 have been recognized in the financial data for prior years. Whereas, effects of changes in the price index since 1 January till 30 September 2025 have been recognized in the financial statements for the current reporting period.

    The restatements were made as at the date of initial recognition of non-monetary items, but not earlier than as at the date of acquisition of subsidiaries by the Group, because it is assumed that non-monetary items were then translated and recognized in the consolidated financial statements at fair value, reflecting the purchasing power as at the acquisition date. The restatement significantly increased the value of goodwill, property, plant and equipment, and intangible assets. Such restatement also resulted in higher costs in the statement of profit and loss in the form of higher depreciation and amortization charges due to the restated gross values of property, plant and

    equipment and intangible assets, higher expenses and income from the accounting for restated amounts of accruals and contract liabilities.

  • Due to the revaluation of non-monetary assets and liabilities, deferred tax calculated as the difference between the tax value and the book value was also revalued.

  • All transactions included in the statement of profit and loss for the year 2025 have been restated to reflect changes in the price index from the month when recognized till 30 September, except for depreciation charges on property, plant and equipment and amortization charges on intangible assets that have been remeasured based on the adjusted gross value of these assets, as well as expenses and income from the accounting for restated amounts of accruals and contract liabilities. The remeasurement of depreciation and amortization charges has been based on the normal periods of useful life of relevant assets. The restatement of the statement of profit and loss for the inflation rate resulted in an increase in the value of individual items presented in the local currency due to changes in the price index from the date of their recognition till 30 September 2025.

  • In correspondence to the restatement of the statement of profit and loss and the statement of financial position for the inflation rate in the current reporting period, the Group has recognized a gain/loss on the net monetary position, disclosed financial income/expenses in the statement of profit and loss. In correspondence to the revaluation of items in the statement of financial position for the inflation rate from the date of their initial recognition till the end of 2021, the Group has recognized exchange differences on translation of foreign operations disclosed separately in other comprehensive income for 2022 and in equity.

• Translation of financial data into the Group's presentation currency

  • Once the financial statements of our subsidiaries operating in Turkey were restated for the effects of inflation in the local currency, they have been translated into PLN which involved translating the statement of financial position and all items of the statement of profit and loss for the reporting period, using the TRY/PLN exchange rate effective on the reporting date. As at 30 September 2025, this exchange rate was: TRY 1 = PLN 0.0873. Translation of the statement of financial position has remained unchanged compared to the Group's usual practice, while the new principle of translating the statement of profit and loss has had a significant impact on its individual items. The effect of translating the statement of comprehensive income using the closing exchange rate of the reporting period has been recognized in correspondence in exchange differences on translation of foreign operations.

• Time of recognition

  • IAS 29 has been implemented by the Group since 1 January 2022 and the first hyperinflation restatements were made in the interim consolidated financial statements for the period of 6 months ended 30 June 2022.

The impact of adopting IAS 29 on the consolidated financial statements for the period of 9 months of 2025 is summarized below:

STATEMENT OF PROFIT AND LOSS

9 months ended Impact of hyperinflation 9 months ended

30 September 2025 30 September 2025

without impact of according to

IAS 29 IAS/IFRS

Non-controlling interests (17,603) 34 (17,569)

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 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.

1. ‌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:

   Necomplus Dominicana, Srl

   Dominikana 100/100 (100/100)

Necomplus PERÚ SAC

Peru 100/100 (100/100)

jednostka zależna

jednostka stowarzyszona

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

Indie

100/100 (100/100)

Touras Global IT Solutions L.L.C. Zjednoczone Emiraty Arabskie 100/100 (100/100)

Bithat Solutions s.r.l.

Rumunia 100/100 (100/100)

Askepnet TOV

Ukraina 100/100 (100/100)

Helius Systems Sh.p.k.

Albania 70/70 (70/70)*

ContentSpeed s.r.l.

Rumunia

80/80 (80/80)*

100/100 udział w głosach/udział w kapitale na dzień 30 września 2025 roku (w %)

(100/100) udział w głosach/udział w kapitale na dzień 31 grudnia 2024 roku (w %)

* do rozliczenia nabycia przyjmujemy że mamy 100% ze względu na opcje put/call - stosowana metoda oczekiwanego nabycia (ang. present ownership)

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

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 30 September 2025 and 31 December 2024, all the subsidiary companies were subject to consolidation.

The Group had no shares in any jointly controlled entities as at 30 September 2025 or as at 31 December 2024. During the period of 9 months ended 30 September 2025, the Group's composition changed as follows:

• Acquisition of Fawaterk for E-payments LLC

  On 15 January 2025, Payten Holding S.A. acquired a 51% stake of shares in Fawaterk for E-payments LLC, a company based in Cairo, Egypt.

• Sale of Mobven Teknoloji Anonim Şirketi

An agreement to sell the company Mobven Teknoloji Anonim Şirketi was signed on 11 February 2025. Payten Teknoloji Anonim Şirketi sold all 100% shares it held in Mobven, as a result of which the Group lost control over that company. The payment for shares sold shall be made in 7 instalments, starting from the first anniversary of the shares sale transaction.

At the end of 2024, due to the planned sale of our subsidiary Mobven, assets and liabilities of this company have been disclosed in the Group's statement of financial position as assets and related liabilities held for sale, and they were measured at the lower of carrying value and fair value less costs to sell. Accordingly, last year net assets held for sale were recognized at the estimated selling price of this company.

In the current reporting period, result on the sale of this company was determined as the estimated selling price of its shares, less net assets. In addition, result on the sale included other comprehensive income that was reclassified to the statement of profit and loss. Loss on the sale of Mobven company was estimated at PLN

6.7 million and was recognized in financial expenses.

• Changing the name of a subsidiary company of Touras Technologies Limited to Touras Global IT Solutions LLC

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

• Acquisition of Sycket Technologies, S.L.

  On 22 April 2025, Payten Holding S.A. acquired 70% of shares in Sycket Technologies, S.L., a company based in Seville, Spain.

• Sale of Paygate (Private) Limited

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

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 portfolio includes fully-fledged solutions and products necessary to run a bank such as omnichannel solutions designed to distribute banking products and services, solutions allowing to improve communication with the customer, integrated core banking systems, authentication security solutions, reporting systems for regulatory compliance and managerial information, as well as 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 complete payment industry solutions supporting online and offline payments, which are 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 - cryptocurrencies, QR codes, solutions enabling tokenization of cards, 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 outsourcing and equipment, providing the highest level of expertise, maintenance and support through the entire portfolio. This segment also operates an independent network of ATMs under the brand name of MoneyGet. In addition, the Group runs a network of independent EFT POS terminals at points of sale - IPD service under the Monri brand that enables 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 Group 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 9 months ended 30 September 2025.

   9 months ended 30 September 2025 Banking Solutions Payment Dedicated Eliminations Hyperinflation Total Solutions Solutions PLN'000 PLN'000 PLN'000 PLN'000 PLN'000 PLN'000

   Sales revenues: 256,178 681,361 361,027 (36,565) 1,905 1,263,906

   Sales to external customers	240,577	665,539	355,885	-	1,905	1,263,906
   Sales between and/or within segments	15,601	15,822	5,142	(36,565)	-	-
   Selling costs	(12,428)	(52,534)	(25,403)	-	(38)	(90,403)
   General and administrative expenses	(19,175)	(39,001)	(19,385)	-	(57)	(77,618)
   Other operating activities	126	(1,640)	208	-	4	(1,302)
   Share of profits of associates	-	68	-	-	-	68

   Operating profit 57,249 72,209 17,766 - (1,498) 145,726

   Non-cash items

   Depreciation and amortization	(9,229)	(51,891)	(16,457)	-	(1,975)	(79,552)
   Impairment losses on segment assets recognized in operating expenses	(351)	(20,741)	(2,387)	-	-	(23,479)

   Goodwill as at 30 September 2025 205,256 307,898 356,926 - 60,096 930,176

   9 months ended 30 September 2025 Banking Solutions Payment Dedicated Eliminations Hyperinflation Total Solutions Solutions EUR'000 EUR'000 EUR'000 EUR'000 EUR'000 EUR'000

   Sales revenues: 60,470 160,831 85,218 (8,632) 450 298,337

   Gross profit on sales 20,943 39,022 14,716 - (332) 74,349

   Net profit on sales 13,483 17,416 4,144 - (354) 34,689

   Operating profit 13,513 17,045 4,193 - (353) 34,398

   Non-cash items

   Gross profit on sales 88,726 165,316 62,346 - (1,407) 314,981

   Net profit on sales 57,123 73,781 17,558 - (1,502) 146,960

   Sales to external customers	56,787	157,096	84,004	-	450	298,337
   Sales between and/or within segments	3,683	3,735	1,214	(8,632)	-	-
   Selling costs	(2,934)	(12,400)	(5,996)	-	(9)	(21,339)
   General and administrative expenses	(4,526)	(9,206)	(4,576)	-	(13)	(18,321)
   Other operating activities	30	(387)	49	-	1	(307)
   Share of profits of associates	-	16	-	-	-	16
   						-
   Depreciation and amortization	(2,178)	(12,249)	(3,885)	-	(466)	(18,778)
   Impairment losses on segment assets
   (83)		(4,896)	(563)	-	-	(5,542)

   recognized in operating expenses

   Goodwill as at 30 September 2025 48,078 72,121 83,605 - 14,077 217,881

   The financial results presented above have been converted at the average exchange rate for the period of 9 months ended 30 September 2025: EUR 1 = PLN 4.2365, whereas the financial position data have been converted at the exchange rate effective on 30 September 2025: EUR 1 = PLN 4.2692.

   In the current reporting period, 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 consolidated financial statements.

   Gross profit on sales 79,386 191,416 33,867 - 258 304,927

   Net profit on sales 47,982 114,666 (8,665) - (712) 153,271

   Selected financial data for the period of 9 months ended 30 September 2024, in a breakdown by operating segments:

   9 months ended 30 September 2024 Payment Dedicated Banking Solutions Eliminations Hyperinflation Total (restated) Solutions Solutions PLN'000 PLN'000 PLN'000 PLN'000 PLN'000 PLN'000

   Sales revenues: 228,119 628,703 372,257 (27,598) 7,980 1,209,461

   Sales to external customers	213,874	620,062	367,545		7,980	1,209,461
   Sales between and/or within segments	14,245	8,641	4,712	(27,598)	-	-
   Selling costs	(12,354)	(41,442)	(22,596)	-	(399)	(76,791)
   General and administrative expenses	(19,050)	(35,308)	(19,936)	-	(571)	(74,865)
   Other operating activities	6	472	763	-	(19)	1,222
   Share of profits of associates	-	78	-	-	-	78

   Operating profit 47,988 115,216 (7,902) - (731) 154,571

   Non-cash items

   Depreciation and amortization	(9,527)	(45,796)	(15,376)	-	(2,177)	(72,876)
   Impairment losses on segment assets recognized in operating expenses	(665)	(1,733)	(4,895)	-	-	(7,293)

   Goodwill at 31 December 2024 207,037 393,196 359,105 - 62,621 1,021,959 (restated)

   9 months ended 30 September 2024 Payment Dedicated Banking Solutions Eliminations Hyperinflation Total (restated) Solutions Solutions EUR'000 EUR'000 EUR'000 EUR'000 EUR'000 EUR'000

   Sales revenues: 53,024 146,136 86,528 (6,415) 1,855 281,128

   Gross profit on sales 18,453 44,493 7,871 - 60 70,877

   Net profit on sales 11,153 26,653 (2,014) - (166) 35,626

   Operating profit 11,154 26,781 (1,836) - (170) 35,929

   Non-cash items

   Sales to external customers	49,713	144,127	85,433	-	1,855	281,128
   Sales between and/or within segments	3,311	2,009	1,095	(6,415)	-	-
   Selling costs	(2,872)	(9,633)	(5,251)	-	(93)	(17,849)
   General and administrative expenses	(4,428)	(8,207)	(4,634)	-	(133)	(17,402)
   Other operating activities	1	110	178	-	(4)	285
   Share of profits of associates	-	18	-	-	-	18
   						-
   Depreciation and amortization	(2,214)	(10,645)	(3,574)	-	(506)	(16,939)
   Impairment losses on segment assets (155)		(403)	(1,138)	-	-	(1,696)

   recognized in operating expenses

   Goodwill at 31 December 2024 48,452 92,019 84,040 - 14,655 239,166 (restated)

   The financial results presented above have been converted at the average exchange rate for the period of 9 months ended 30 September 2024: EUR 1 = PLN 4.3022, whereas the financial position data have been converted at the exchange rate effective on 31 September 2024: EUR 1 = PLN 4.2730.

2. ‌Explanatory notes to the consolidated statement of profit and loss

The table below presents operating costs incurred during the periods of 3 and 9 months ended 30 September 2025 and in the comparable periods.

Third-party non-project services include consulting services which are 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 equipment repairs and spare parts used for the executed projects, costs of repairs and maintenance of tangible assets (including infrastructure provided under our outsourcing contracts), maintenance costs of intangible assets, office space rental and maintenance fees, as well as maintenance of company cars.

Other operating costs primarily include telecommunications costs, allowances for trade receivables, impairment losses on intangible assets, provisions for warranty repairs and onerous contracts. A substantial increase in such costs in the current reporting period, in relation to the comparable period, resulted from the recognition of allowances for receivables from Touras India and Touras UAE companies in the total amount of PLN 9,740 thousand, as well as from impairment losses on intangible assets recognized from the acquisition of Touras India and Askepnet companies in the total amount of PLN 8,715 thousand.

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 2024 which were published on 26 February 2025.

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 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, and 25,000 shares acquired by Michał Nitka, Member of the Management Board of ASEE.

The costs of this share-based payment plan disclosed in the interim condensed consolidated financial statements of ASEE Group for the period of 9 months ended 30 September 2025 amounted to PLN 218 thousand, as compared to PLN 218 thousand in the comparable period, of which costs related to shares