Report for the 1st Quarter 2025

Raport za I kwartał 2025

Grupa Kapitałowa XTB S.A.

for Q1 2025

Report for Q1 2025

XTB S.A. Capital Group

SELECTED CONSOLIDATED FINANCIAL DATA 4

Selected consolidated financial data 5

INTERIM CONDENSED CONSOLIDATED FINANCIAL STATEMENTS 6

Interim condensed consolidated comprehensive income statement 7

Interim condensed consolidated statement of financial position 8

Interim condensed consolidated statement of changes in equity 9

Interim condensed consolidated cash flow statement 11

Additional explanatory notes to the interim condensed consolidated financial statements 12

1. Basis for drafting the financial statements 14

2. Professional judgement 16

3. Adopted material accounting principles 17

4. Seasonality of operations 18

5. Operating income 18

6. Salaries and employee benefits 19

7. Marketing 19

8. Other external services 19

9. Commission expenses 19

10. Finance income and costs 20

11. Segment information 20

12. Cash and cash equivalents 25

13. Financial assets at fair value through P&L 25

14. Financial assets at amortised cost 25

15. Intangible assets 27

16. Property, plant and equipment 29

17. Amounts due to customers 31

18. Financial liabilities at fair value through P&L 31

19. Liabilities due to lease 31

20. Other liabilities 32

21. Provisions for liabilities and contingent liabilities 32

22. Equity 33

23. Profit distribution and dividend 35

24. Earnings per share 35

25. Current income tax and deferred income tax 35

26. Related party transactions 38

27. Employment 39

28. Supplementary information and explanations to the cash flow statement 40

29. Off-balance sheet items 40

30. Items regarding the compensation scheme 41

31. Capital management 41

32. Risk management 44

33. Post balance sheet events 57

ADDITIONAL INFORMATION 58

Description of operations of the Company and XTB Capital Group 59

1. General information 59

2. Business model 60

3. Development strategy 63

4. Group structure 64

5. Bodies of the Company 67

6. Share capital and shareholder structure 70

   xtb.com 2

   
   
   

   Report for Q1 2025

   XTB S.A. Capital Group

7. Sustainability and the XTB Foundation 73

XTB S.A. Capital Group's activities in Q1 2025 76

1. Factors affecting operational and financial performance 76

2. Selected financial indicators 77

3. Selected operational data 78

4. Discussion of the Group's performance for Q1 2025 80

5. Main business segments 92

6. Factors which, in the opinion of the Management Board, may affect the Group's results in the perspective of at least the next quarter 94

7. Position of the Management Board concerning the feasibility of meeting previously published result forecasts for a given year 95

Additional information 96

1. Information on transactions with related parties 96

2. Information on sureties for loans or credits or guarantees granted by the Parent Company or its subsidiaries - to one entity or a subsidiary of that entity, where the total value of the existing sureties or guarantees is significant 96

3. Information on significant proceedings pending before a court, an authority competent for arbitration proceedings or a public administration body 96

4. Regulatory environment 98

INTERIM CONDENSED STANDALONE FINANCIAL STATEMENTS 102

Interim condensed standalone comprehensive income statement 103

Interim condensed standalone statement of financial position 104

Interim condensed standalone statement of changes in equity 105

Interim condensed standalone cash flow statement 107

DISCLAIMER

This document is an unofficial translation of the Polish version of Report of the XTB S.A. Capital Group for Q1 2025 and does not constitute a current or periodical report as defined under the Regulation of the Minister of Finance on the current and periodical information provided by issuers of securities and the conditions for considering the information required by the provisions of law of the state not being a member state as equivalent thereto that was issued in accordance with the Polish Act on Public Offering, the Conditions Governing the Introduction of Finance Instruments to Organised Trading, and Public Companies dated 29 July 2005 (amended and restated: Journal of Laws of 2020, item 2080 with subsequent amendments).

This document is for informational purposes only. Neither the Company, its shareholders, nor any of their advisors are responsible for translation errors, if any, or for any discrepancies between the original report and this translation into English. If there are any discrepancies between the English translation and the Polish version, the latter shall prevail.

xtb.com 3

Report for Q1 2025

XTB S.A. Capital Group

in PLN thousand in EUR thousand

3 MONTHS ENDING ON 3 MONTHS ENDING ON

in PLN thousand in EUR thousand

The financial figures above have been converted into EUR as follows:

• items of the consolidated statement of comprehensive income and the consolidated statement of cash flows - at an exchange rate representing the arithmetic mean of the average exchange rates set by the National Bank of Poland on the last day of each month of the reporting period:

  • for the current period: EUR 1 = PLN 4.1848

  • for the comparative period: EUR 1 = PLN 4.3211;

• items of the consolidated statement of financial position - at an average exchange rate set by the National Bank of Poland at the end of the reporting period:

  • for the current period: EUR 1 = PLN 4.1839

  • for the comparative period: EUR 1 = PLN 4.2730;

xtb.com 5