Zagrebačka banka unaudited financial results Q1 2026

1. Management report for the period from 1 January to 31 March 2026

2. Statement of the persons responsible for the preparation of the financial statements

3. Financial statements (TFI-KI statements)

   1. General data as at 31 March 2026

   2. Balance sheet as at 31 March 2026

   3. Income statement for the period from 1 January to 31 March 2026

   4. Cash flow statement for the period from 1 January to 31 March 2026

   5. Statement of changes in equity for the period from 31 December 2025 to 31 March 2026

   6. Notes to the financial statements

1. Management report for the period from 1 January to 31 March 2026 Zagrebačka banka dd recorded profit after tax of EUR 136 million in the first quarter 2026, reflecting an decrease of EUR 1 million (-0.7%) compared to the first quarter 2025.

   The Croatian economy remained resilient despite elevated uncertainty arising from persistent and evolving geopolitical and trade tensions. GDP growth and favourable labour market conditions continued to support economic activity.

   Operating income amounted to EUR 216 million, marginally lower year on year, reflecting mixed trends across income components. Net interest income declined by 2.9%, driven by lower interest rate environment, margin pressures and balance-sheet dynamics, while net fee and commission income increased by a strong 18.8%, supported by volume growth and the successful introduction of new products. Trading and other income decreased compared to the prior year.

   Business growth continued, driven by lending activities within a prudent risk framework. Zagrebačka banka continues to demonstrate the capabilities, capacity and expertise required to execute the largest and most complex transactions, while at the same time remaining firmly focused on each individual client, retail customers, sole proprietors and small businesses, through tailored solutions aligned with their needs and ambitions.

   This balanced business model enables sustainable growth while reinforcing trust, long-term partnerships, and value creation for the broader economy and the communities we serve.

   Growth is further supported by our specialised mortgage sales force, enabling the effective capture of refinancing and switching opportunities, while strong client retention was driven by smart combination of digital and physical channels and favourable demand dynamics on the market.

   Operating expenses amounted to EUR 59 million, reflecting higher staff costs primarily related to performance-based remuneration and targeted investments in human capital and organisational capabilities. Profit before impairment and other provisions reached EUR 157 million, slightly lower year on year, while the cost-to-income ratio remained strong at 27.3%, highlighting continued cost discipline. Net impairment and other provisions resulted in a write-back of EUR 6 million, reflecting continued sound asset quality and prudent risk management.

   We remain focused on delivering client-driven, profitable growth while maintaining a disciplined risk appetite, and we have successfully achieved both. This is supported by prudent capital deployment, a stable and diversified funding base anchored in customer deposits, structural cost efficiency, and our leading distribution network and technology platform.

   Key performance indicators:
   • Operating income: EUR 216 million
   • Operating expenses: EUR 59 million
   • Profit before impairment and other provisions: EUR 157 million
   • Impairment and other provisions: EUR 6 million
   • Loans and advances to customers: EUR 13,230 million
   • Deposits from customers: EUR 18,469 million
   Operating income amounted to EUR 216 million, decreased by EUR 2 million (-0.9%) Y/Y:

   • Net interest income amounted to EUR 136 million, decreased by EUR 4 million (-2.9%), impacted by lower interest rate environment as during 2025, the European Central Bank gradually reduced its key interest rates, thereby easing monetary policy conditions. Negative macro impacts were largely offset by strong commercial activities especially on lending side

   • Net fee and commission income amounted to EUR 57 million, increased by EUR 9 million (+18.8%), driven by expanded portfolio of new products, development of innovative solutions, execution of the most complex transactions in the market, and a continuous strong focus on meeting our clients' needs.

   • Net trading and other income and expenses amounted to EUR 23 million, decreased by EUR 7 million (-23.3%).

     Operating expenses at EUR 59 million. Cost to income ratio equals to 27.31%, demonstrating strong cost management despite inflationary pressures, while continuing with targeted investments in human capital Profit before impairment and other provisions amounted to EUR 157 million, lower by EUR 2 million (-1.3%), as a result of the previously described movements in Operating income and Operating expenses. Impairment and other provisions write down amounted to EUR 6 million. Total assets of the Bank amounted to EUR 23,199 million, lower by EUR 64 million (-0.3%) BoY.
   • Net loans and advances to customers amounted to EUR 13,230 million, increased by EUR 419 million (+3.3%) due to increase in both corporate and retail lending.

   • Our commercial growth was underpinned by strong performance across all products and segments, supported by a disciplined risk management approach and a particular focus on SMEs and retail clients. Through this growth, we actively contribute to economic and market development while consistently maintaining a strong focus on high levels of client satisfaction.

   • Deposits from customers remain the key source of funding, reaching EUR 18,469 million. The increase of EUR 390 million (+2.2%) was primarily driven by the growth in retail deposits, confirming customer trust and the stability of the funding base.
   • Deposits from credit institutions at EUR 348 million, lower by EUR 536 million (-60.6%). Financial results for the period from 1 January to 31 March 2026

     Zagrebačka banka dd			Δ 2026 vs 2025
     Income statement (EURm)	2026	2025	EUR m	%
     	1	2	3 (1-2)	4 (3/2)
     Interest income	181	183	(2)	(1.1 %)
     Interest expense	(45)	(43)	(2)	4.7 %
     Net interest income	136	140	(4)	(2.9 %)
     Fee and commission income	64	59	5	8.5 %
     Fee and commission expense	(7)	(11)	4	(36.4 %)
     Net fee and commission income	57	48	9	18.8 %
     Net trading and other income and expenses	23	30	(7)	(23.3 %)
     Operating income	216	218	(2)	(0.9 %)
     Operating expenses	(59)	(59)	-	-
     Cash contributions to resolution funds and deposit guarantee schemes	-	-	-	-
     Profit before impairment and other provisions	157	159	(2)	(1.3 %)
     Impairment and other provisions	6	4	2	50.0 %
     Share of the profit or (-) loss of investments in subsidiaries, joint ventures and associates accounted for using the equity method	-	-	-	-
     Profit before tax	163	163	-	-
     Income tax	(27)	(26)	(1)	3.8 %
     Net profit	136	137	(1)	(0.7 %)

     Financial results for the period from 1 January to 31 March 2026 (continued)

     Zagrebačka banka dd			Δ 2026 vs. 2025
     Balance sheet (EURm)	31 Mar 2026	31 Dec 2025	EURm	%
     	1	2	3 (1-2)	4 (3/2)
     Cash, cash balances at central banks and other demand deposits	3,049	2,993	56	1.9%
     Financial assets at fair value through profit or loss	230	180	50	27.8%
     Fair value changes of the hedged items in portfolio hedge of interest rate risk	(72)	(47)	(25)	53.2%
     Non-trading financial assets mandatorily at fair value through profit or loss	8	9	(1)	(11.1%)
     Financial assets at fair value through other comprehensive income	1,742	1,717	25	1.5%
     Financial assets at amortised cost:	17,687	17,821	(134)	(0.8%)
     Debt securities	2,415	2,295	120	5.2%
     Loans and advances to credit institutions	2,042	2,715	(673)	(24.8%)
     Loans and advances to customers	13,230	12,811	419	3.3%
     Tangible and intangible assets	187	192	(5)	(2.6%)
     Investments in subsidiaries, joint ventures and associates	264	261	3	1.1%
     Other assets	104	137	(33)	(24.1%)
     Total assets	23,199	23,263	(64)	(0.3%)
     Financial liabilities held for trading	174	155	19	12.3%
     Fair value changes of the hedged items in portfolio hedge of interest rate risk	(75)	(33)	(42)	127.7%
     Financial liabilities measured at amortised cost:	20,584	20,323	261	1.3%
     Debt securities issued	1,296	1,296	-	-
     Deposits from credit institutions	348	884	(536)	(60.6%)
     Deposits from customers	18,469	18,079	390	2.2%
     Other financial liabilities	471	64	407	635.9%
     Provisions for risks and charges	181	196	(15)	(7.7%)
     Other liabilities	195	196	(1)	(0.5%)
     Total liabilities	21,059	20,837	222	1.1%
     Equity	2,140	2,426	(286)	(11.8%)
     Total equity and liabilities	23,199	23,263	(64)	(0.3%)

     Rating		31 March 2026
     Fitch Ratings Ltd.	Long Term Issuer Default Rating	A-
     	Short Term Rating	F2
     	Viability	bbb
     	Shareholder Support	a-
     	Outlook	Stable

     Zagreb, 30 April 2026

     Significant events and transactions

     Geopolitical tensions and market uncertainties

     At the end of March 2026, geopolitical tensions did not have a significant direct impact on the Bank's assets. Our operations remain indirectly affected, as the overall macro-economic scenario evolves. The market environment continues to be uncertain.

     The impacts of uncertainties continue to evolve as of the date of this report. As such, it is fluctuant as to the full magnitude that they will have on the macro-economic scenario and consequentially on the Bank's future financial condition and results of operations.

     The Bank continues to support our clients, while it adequately assesses their creditworthiness, carefully considering the risk classification as well as the related impact on financial reporting.

     While having a strong capital and liquidity position, as well as the assets covered by prudent loan provisions, the Bank is actively monitoring the situation and assessing its impact on operations, financial performance, capital position and cash-flows.

     
     
     

     Dalibor Ćubela

     Chief Executive Officer,

     Chairman of the Management Board

     Jasna Mandac

     Ivana Lonjak Dam

     
     
     

     Stefano Gison

     
     
     

     Member of the Management Board Member of the Management Board

     
     
     

     Aleksandra Rašić

     Member of the Management Board Member of the Management Board

     Slaven Rukavina

     
     
     

     Member of the Management Board

2. Statement of the persons responsible for the preparation of financial statements

   Pursuant to the provisions of the Capital Market Act, to the best of our knowledge:

   1. the set of financial statements of Zagrebačka banka dd, prepared in accordance with International Financial Reporting Standards (IFRS) as adopted in the European Union, gives a true and fair view of the assets and liabilities, profit and loss, financial position and business operations of Zagrebačka banka dd;

   2. the Management Report includes a fair overview of the development and results of operations

   and of the position of Zagrebačka banka dd.

   
   
   

   Jasna Mandac

   Member of the Management Board

   Additional info:

   Public Relations

   e-mail: PR@unicreditgroup.zaba.hr https://www.zaba.hr

3. Financial statements (TFI-KI statements)

1. General data as at 31 December 20261

   Annex 1

   ISSUER'S GENERAL DATA

   Reporting period:

   to

   Year:

   Quarter:

   Quarterly financial statements

   egistration number (MB):

   Issuer's home

   Member State code:

   Entity's registration

   number (MBS):

   Personal identification

   number (OIB):

   LEI:

   Institution

   code:

   Name of the issuer: Zagrebačka banka d.d.

   Postcode and town:

   Zagreb

   treet and house number: Trg bana Josipa Jelačića 10, Zagreb, Hrvatska

   E-mail address:zaba@unicreditgroup.zaba.hr

   Web address:www.zaba.hr

   Number of employees (end of the reporting

   Consolidated report:

   (KN-not consolidated/KD-consolidated)

   Audited:

   (RN-not audited/RD-audited)

   Names of subsidiaries (according to IFRS):

   Registered office:

   MB:

   Bookkeeping firm:

   (Yes/No)

   (name of the bookkeeping firm)

   Contact person: Ferizović Antica

   (only name and surname of the contact person)

   Telephone:

   E-mail address:antica.ferizovic@unicreditgroup.zaba.hr

   Audit firm: KPMG d.o.o.

   (name of the audit firm)

   Certified auditor:

   (name and surname)

   No

   RN

   KN

   3162

   10000

   307

   PRNXTNXHBI0TSY1V8P17

   92963223473

   80000014

   HR

   3234495

   1

   2026

   31.03.2026.

   01.01.2026.

   
   
   

   ‌1 Average number of employees in head office and branch network of Zagrebačka banka dd in 1Q 2026 amounts to 3,150.

   III. Financial statements (TFI-KI statements) (continued)

2. Balance sheet as at 31 March 2026

   in EUR
   Submitter: Zagrebačka banka d.d.
   Item	ADP code	Last day of the preceding business year	Current period
   1	2	3	4
   ASSETS
   Cash in hand and balances at central banks	001	2,871,488,448	2,839,720,982
   Treasury bills and other short-term securities eligible for refinancing with central banks (003 + 004):	002	0	4,883,658
   (a) Treasury bills and similar securities	003	0	4,883,658
   (b) Other short-term securities	004	0	0
   Loans and advances to credit institutions (006 + 007):	005	2,835,781,745	2,251,503,924
   (a) Repayable on demand	006	121,048,766	121,977,019
   (b) Other loans and advances	007	2,714,732,979	2,129,526,905
   Loans and advances to customers	008	12,811,454,358	13,229,277,762
   Debt securities, including fixed-income securities (010 + 011):	009	4,010,291,037	4,155,584,981
   (a) Issued by public bodies	010	3,941,219,849	4,082,151,874
   (b) Other debt securities	011	69,071,188	73,433,107
   Shares and other variable-yield securities	012	10,468,390	9,097,724
   Participating interests	013	6,828,580	10,468,734
   Investments in associates	014	254,269,192	253,897,514
   Intangible assets	015	48,583,603	48,910,472
   Tangible assets (017+ 018):	016	143,167,634	138,430,281
   (a) Property, plant and equipment	017	129,550,274	124,806,795
   (b) Investment in real estate	018	13,617,360	13,623,486
   Tax assets (020+ 021):	019	50,070,277	57,829,562
   (a) Current tax assets	020	0	0
   (b) Deferred tax assets	021	50,070,277	57,829,562
   Other assets	022	191,471,482	162,666,243
   Prepayments and accrued income	023	29,047,703	36,362,364
   Fixed assets held for sale and discontinued operations	024	0	0
   TOTAL ASSETS (from 001 to 024)	025	23,262,922,449	23,198,634,201
   LIABILITIES AND EQUITY
   Amounts owed to credit institutions (027 + 028):	026	883,472,629	348,253,689
   (a) Repayable on demand	027	30,265,911	30,759,793
   (b) With agreed maturity dates or periods of notice	028	853,206,718	317,493,896
   Amounts owed to customers (030 + 033):	029	18,080,219,673	18,468,452,614
   (a) savings deposits (031 + 032):	030	16,352,403,163	16,521,910,896
   (aa) Repayable on demand	031	12,517,428,756	12,479,145,675
   (ab) With agreed maturity dates or periods of notice	032	3,834,974,407	4,042,765,221
   (b) Other amounts owed to customers (034 + 035):	033	1,727,816,510	1,946,541,718
   (ba) Repayable on demand	034	653,188,568	585,167,377
   (bb) With agreed maturity dates or periods of notice	035	1,074,627,942	1,361,374,341
   Debt securities issued	036	1,135,497,144	1,135,420,540
   Other liabilities	037	343,824,950	719,225,502
   Accruals and deferred income	038	28,998,359	27,846,624
   Provisions (040+ 041):	039	196,303,575	180,678,669
   (a) Provisions for pensions and similar obligations	040	1,332,349	1,321,659
   (b) Other provisions	041	194,971,226	179,357,010
   Tax liabilities (043 + 044):	042	8,135,895	18,114,576
   (a) Current tax liabilities	043	8,135,895	18,114,576
   (b) Deferred tax liabilities	044	0	0
   Liabilities included in disposal groups classified as held for sale	045	0	0
   Subordinated liabilities	046	160,298,346	160,301,320
   Capital (048 + 049):	047	850,068,233	850,068,233
   (a) Paid-in capital	048	850,068,233	850,068,233
   (b) Unpaid capital which has been called up	049	0	0
   Share premium	050	465,451,715	465,451,715
   Other equity	051	1,857,150	1,857,150
   ( - ) Treasury shares	052	-182,895	-1,382,895
   Reserves (054 + 055 + 056 + 057):	053	61,175,022	61,175,022
   (a) Legal reserves	054	9,031,591	9,031,591
   (b) Statutory reserves	055	52,143,431	52,143,431
   (c) Reserves for treasury shares	056	0	0
   (d) Other reserves	057	0	0
   Revaluation reserves	058	0	0
   Accumulated other comprehensive income	059	9,990,515	-3,743,457
   Retained profit	060	527,991,266	631,144,095
   Profit or loss for the year	061	509,820,872	135,770,804
   Minority interests	062	0	0
   TOTAL LIABILITIES AND EQUITY (from 026 to 062)	063	23,262,922,449	23,198,634,201
   Off-balance sheet items
   Loan commitments given	064	2,681,361,726	2,703,702,693
   Financial guarantees given	065	335,804,382	327,583,690
   Other commitments given	066	1,218,102,191	1,268,595,489
   TOTAL OFF-BALANCE SHEET ITEMS (from 064 to 066)	067	4,235,268,299	4,299,881,872

3. Income statement for the period from 1 January to 31 March 2026

   in EUR
   Submitter: Zagrebačka banka d.d.
   Item	ADP code	Same period of the previous year		Current period
   		Cumulative	Quarter	Cumulative	Quarter
   1	2	3	4	5	6
   Interest receivable and similar income	001	183,358,034	183,358,034	181,336,799	181,336,799
   of which: income from fixed-income securities	002	18,732,554	18,732,554	28,642,004	28,642,004
   Interest payable and similar charges	003	43,517,177	43,517,177	44,739,814	44,739,814
   Income from securities (005 + 006 + 007):	004	16,912,899	16,912,899	12,721,344	12,721,344
   (a) Income from shares and other variable-yield securities	005	4,741	4,741	1,906	1,906
   (b) Income from participating interests	006	3,430,000	3,430,000	3,640,154	3,640,154
   (c) Income from shares in affiliated undertakings	007	13,478,158	13,478,158	9,079,284	9,079,284
   Commissions receivable	008	58,742,291	58,742,291	64,414,244	64,414,244
   Commissions payable	009	10,628,095	10,628,095	6,901,616	6,901,616
   Net profit or net loss on financial operations	010	-5,214,241	-5,214,241	12,209,102	12,209,102
   Other operating income	011	19,950,244	19,950,244	-1,998,522	-1,998,522
   of which: gains and losses on derecognition of financial assets measured at amortised cost	012	0	0	0	0
   General administrative expenses (014 + 015):	013	59,045,316	59,045,316	58,757,848	58,757,848
   (a) Employee expenses	014	30,014,832	30,014,832	30,683,855	30,683,855
   (b) Other administrative expenses	015	29,030,484	29,030,484	28,073,993	28,073,993
   Impairment or reversal of impairment of tangible and non-tangible assets	016	7,337	7,337	9,594	9,594
   Other operating expenses	017	1,284,807	1,284,807	1,124,217	1,124,217
   Provisions or reversal of provisions (019 + 020):	018	-2,336,308	-2,336,308	-7,962,075	-7,962,075
   (a) Provisions for commitments and guarantees given	019	-3,179,807	-3,179,807	-8,560,515	-8,560,515
   (b) Other provisions	020	843,499	843,499	598,440	598,440
   Impairment or reversal of impairment of loans and advances	021	-1,077,523	-1,077,523	3,139,806	3,139,806
   Impairment or reversal of impairment of securities and participating interests and shares in affiliated undertakings	022	-611,669	-611,669	-804,857	-804,857
   Profit or loss before tax from continuing operations (001 - 003 + 004 + 008 - 009 + 010 + 011 - 013 - 016 - 017 - 018 - 021 - 022)	023	163,291,995	163,291,995	162,777,004	162,777,004
   Tax expense or income related to profit or loss from continuing operations	024	26,431,443	26,431,443	27,006,200	27,006,200
   Profit or loss after tax from continuing operations (023 - 024)	025	136,860,552	136,860,552	135,770,804	135,770,804
   Profit or (-) loss before tax from discontinued operations	026	0	0	0	0
   Tax expense or (-) income related to discontinued operations	027	0	0	0	0
   Profit or loss after tax from discontinued operations (026 - 027)	028	0	0	0	0
   Profit or loss for the current year (025 + 028; 030 + 031)	029	136,860,552	136,860,552	135,770,804	135,770,804
   Attributable to minority interest [non-controlling interests]	030	0	0	0	0
   Attributable to owners of the parent	031	136,860,552	136,860,552	135,770,804	135,770,804
   STATEMENT OF OTHER COMPREHENSIVE INCOME
   Income or ( - ) loss for the current year	001	136,860,552	136,860,552	135,770,804	135,770,804
   Other comprehensive income (003 + 015)	002	-2,339,367	-2,339,367	-13,733,972	-13,733,972
   Items that will not be reclassified to profit or loss (from 004 to 010 + 013 + 014)	003	-53,043	-53,043	-11,963	-11,963
   Tangible assets	004	-61,451	-61,451	-47,853	-47,853
   Intangible assets	005	0	0	0	0
   Actuarial gains or (-) losses on defined benefit pension plans	006	0	0	0	0
   Fixed assets and disposal groups classified as held for sale	007	0	0	0	0
   Share of other recognised income and expense of entities accounted for using the equity method	008	0	0	0	0
   Fair value changes of equity instruments measured at fair value through other comprehensive income	009	3,334	3,334	33,264	33,264
   Gains or (-) losses from hedge accounting of equity instruments at fair value through other comprehensive income, net	010	0	0	0	0
   Fair value changes of equity instruments measured at fair value through other comprehensive income [hedged item]	011	0	0	0	0
   Fair value changes of equity instruments measured at fair value through other comprehensive income [hedging instrument]	012	0	0	0	0
   Fair value changes of financial liabilities at fair value through profit or loss attributable to changes in their credit risk	013	0	0	0	0
   Income tax relating to items that will not be reclassified	014	5,074	5,074	2,626	2,626
   Items that may be reclassified to profit or loss (from 016 to 023)	015	-2,286,324	-2,286,324	-13,722,009	-13,722,009
   Hedge of net investments in foreign operations [effective portion]	016	0	0	0	0
   Foreign currency translation	017	0	0	0	0
   Reserve for cash flow hedge [effective portion]	018	-2,616,766	-2,616,766	-5,223,721	-5,223,721
   Hedging instruments [not designated elements]	019	0	0	0	0
   Debt instruments at fair value through other comprehensive income	020	-171,434	-171,434	-11,510,436	-11,510,436
   Fixed assets and disposal groups classified as held for sale	021	0	0	0	0
   Share of other recognised income and expense of investments in subsidiaries, joint ventures and associates	022	0	0	0	0
   Income tax relating to items that may be reclassified to profit or (-) loss	023	501,876	501,876	3,012,148	3,012,148
   Total comprehensive income for the current year (001 + 002; 025 +	024	134,521,185	134,521,185	122,036,832	122,036,832
   Attributable to minority interest [non-controlling interest]	025	0	0	0	0
   Attributable to owners of the parent	026	134,521,185	134,521,185	122,036,832	122,036,832

4. Cash flow statement for the period from 1 January to 31 March 2026

   in EUR Submitter: Zagrebačka banka d.d.
   Item	ADP code	Same period of the previous year	At the reporting date of the current period
   1	2	3	4
   Operating activities - direct method
   Interest received and similar receipts	001	0	0
   Fees and commissions received	002	0	0
   (Interest paid and similar expenditures)	003	0	0
   (Fees and commissions paid)	004	0	0
   (Operating expenses paid)	005	0	0
   Net gains/losses from financial instruments at fair value through statement of profit or loss	006	0	0
   Other receipts	007	0	0
   (Other expenditures)	008	0	0
   Operating activities - indirect method
   Profit/(loss) before tax	009	163,291,995	162,777,004
   Adjustments:		0	0
   Impairment and provisions	010	-4,018,171	-5,617,534
   Depreciation	011	5,824,347	5,943,153
   Net unrealised (gains)/losses on financial assets and liabilities at fair value through statement of profit or loss	012	-3,540,491	3,812,995
   (Profit)/loss from the sale of tangible assets	013	0	0
   Other non-cash items	014	-139,831,095	-156,740,293
   Changes in assets and liabilities from operating activities
   Deposits with the Croatian National Bank	015	1,162,924,982	1,043,919
   Deposits with financial institutions and loans to financial	016	17,611,506	636,833,972
   Loans and advances to other clients	017	-477,693,954	-485,755,377
   Securities and other financial instruments at fair value through other comprehensive income	018	-646,478,838	-25,441,074
   Securities and other financial instruments held for trading	019	66,667	-4,317,241
   Securities and other financial instruments at fair value through statement of profit or loss, not traded	020	-3,835,336	322,975
   Securities and other financial instruments mandatorily at fair value through statement of profit and loss	021	0	0
   Securities and other financial instruments at amortised cost	022	-342,512,379	-176,212,448
   Other assets from operating activities	023	-19,473,927	42,297,558
   Deposits from financial institutions	024	18,061,629	-62,086,024
   Transaction accounts of other clients	025	-173,723,042	-112,338,077
   Savings deposits of other clients	026	-1,941,678	-2,970,830
   Time deposits of other clients	027	310,634,756	482,964,547
   Derivative financial liabilities and other liabilities held for trading	028	0	0
   Other liabilities from operating activities	029	-39,748,817	-20,563,368
   Interest received from operating activities [indirect method]	030	159,665,805	290,273,214
   Dividends received from operating activities [indirect method]	031	0	0
   Interest paid from operating activities [indirect method]	032	-47,430,225	-48,003,059
   (Income tax paid)	033	-21,056,657	-21,780,072
   Net cash flow from operating activities (from 001 to 033)	034	-83,202,923	504,443,940
   Investing activities
   Cash receipts from the sale / payments for the purchase of tangible and intangible assets	035	-1,929,801	-1,528,438
   Cash receipts from the sale / payments for the purchase of investments in branches, associates and joint ventures	036	0	0
   Cash receipts from the sale / payments for the purchase of securities and other financial instruments held to maturity	037	0	0
   Dividends received from investing activities	038	2,400,367	9,427,452
   Other receipts /payments from investing activities	039	0	0
   Net cash flow from investing activities (from 035 to 039)	040	470,566	7,899,014
   Financing activities
   Net increase/(decrease) in loans received from financing activities	041	36,002,020	-462,396,056
   Net increase/(decrease) in debt securities issued	042	100,355,633	-73,631
   Net increase/(decrease) in Tier 2 capital instruments	043	0	0
   Increase in share capital	044	0	0
   (Dividends paid)	045	0	0
   Other receipts /(payments) from financing activities	046	0	0
   Net cash flow from financing activities (from 041 to 046)	047	136,357,653	-462,469,687
   Net increase/(decrease) in cash and cash equivalents (034 + 040 + 047)	048	53,625,296	49,873,267
   Cash and cash equivalents at the beginning of period	049	4,124,302,770	2,992,537,215
   Effect of exchange rate fluctuations on cash and cash equivalents	050	-8,994,378	6,580,023
   Cash and cash equivalents at the end of period (048 + 049 + 050)	051	4,168,933,688	3,048,990,505

   
   
   
   1. Financial statements (TFI-KI statements) (continued)

5. Statement of changes in equity for the period from 31 December 2025 to 31 March 2026

   		for the period from	to 31.3.2026												in EUR
   Sources of changes in equity	ADP code	Attributable to ow ners of the parent											Non-controlling interest		Total
   		Capital	Share premium	Equity instrumen ts issued other than capital	Other equity	Accumulat ed other comprehen sive income	Retained profit	Revaluation reserves	Other reserves	( ) Treasury shares	Profit or ( - ) loss attributable to owners of the parent	(-) Interim dividends	Accumulate d other comprehen sive income	Other items
   1	2	3	4	5	6	7	8	9	10	11	12	13	14	15	16
   Opening balance [before restatement]	001	850,068,233	465,451,715	0	1,857,150	9,990,515	527,991,268	0	61,175,022	-182,895	509,820,872	0	0	0	2,426,171,880
   Effects of error corrections	002	0	0	0	0	0	0	0	0	0	0	0	0	0	0
   Effects of changes in accounting policies	003	0	0	0	0	0	0	0	0	0	0	0	0	0	0
   Opening balance [current period] (001 + 002 + 003)	004	850,068,233	465,451,715	0	1,857,150	9,990,515	527,991,268	0	61,175,022	-182,895	509,820,872	0	0	0	2,426,171,880
   Ordinary shares issue	005	0	0	0	0	0	0	0	0	0	0	0	0	0	0
   Preference shares issue	006	0	0	0	0	0	0	0	0	0	0	0	0	0	0
   Issue of other equity instruments	007	0	0	0	0	0	0	0	0	0	0	0	0	0	0
   Exercise or expiration of other equity instruments issued	008	0	0	0	0	0	0	0	0	0	0	0	0	0	0
   Conversion of debt to equity instruments	009	0	0	0	0	0	0	0	0	0	0	0	0	0	0
   Capital reduction	010	0	0	0	0	0	0	0	0	0	0	0	0	0	0
   Dividends	011	0	0	0	0	0	-406,707,283	0	0	0	0	0	0	0	-406,707,283
   Purchase of treasury shares	012	0	0	0	0	0	0	0	0	-1,200,000	0	0	0	0	-1,200,000
   Sale or cancellation of treasury shares	013	0	0	0	0	0	0	0	0	0	0	0	0	0	0
   Reclassification of financial instruments from equity to liability	014	0	0	0	0	0	0	0	0	0	0	0	0	0	0
   Reclassification of financial instruments from liability to equity	015	0	0	0	0	0	0	0	0	0	0	0	0	0	0
   Transfers among components of equity	016	0	0	0	0	0	509,820,872	0	0	0	-509,820,872	0	0	0	0
   Equity increase or ( - ) decrease resulting from business combinations	017	0	0	0	0	0	0	0	0	0	0	0	0	0	0
   Share based payments	018	0	0	0	0	0	0	0	0	0	0	0	0	0	0
   Other increase or ( - ) decrease in equity	019	0	0	0	0	0	39,238	0	0	0	0	0	0	0	39,238
   Total comprehensive income for the current year	020	0	0	0	0	-13,733,972	0	0	0	0	135,770,804	0	0	0	122,036,832
   Closing balance [current period] (from 004 to 020)	021	850,068,233	465,451,715	0	1,857,150	-3,743,457	631,144,095	0	61,175,022	-1,382,895	135,770,804	0	0	0	2,140,340,667

6. Notes to the condensed interim financial statements

1. Financial liabilities at amortised cost

   			EUR million
   	31 March 2026		31 December 2025
   Deposits from customers
   Households	11,460		11,299
   Non-financial corporations	5,072		5,066
   State and public sector	1,287		1,001
   Other financial corporations	650		713
   	18,469		18,079
   Deposits from credit institutions	348		884
   Other financial liabilities	471		64
   Debt securities issued	1,296		1,296
   	20,584		20,323

2. Operating segments

   1. Profit for the period before tax

      						EUR million
      	Retail	Corporate and Investment	Other	Total managerial reporting	Reconciliation to financial statements	Financial statements
      31 March 2026	82	61	20	163	-	163
      31 March 2025	88	51	24	163	-	163

   2. Statement of the financial position

      						EUR million
      31 March 2026
      	Retail	Corporate and Investment	Other	Total managerial reporting	Reconciliation to financial statements	Financial statements
      Segment's assets	6,531	6,721	9,700	22,952	(75)	22,877
      Investments in subsidiaries and associates	-	-	155	155	109	264
      Deferred tax assets	-	-	58	58	-	58
      Segments' assets	6,531	6,721	9,913	23,165	34	23,199
      Segments' liabilities	12,493	5,979	2,568	21,040	-	21,040
      Current tax liabilities	-	-	18	18	-	18
      Total liabilities	12,493	5,979	2,586	21,058	-	21,058

      						EUR million
      31 December 2025
      	Retail	Corporate and Investment	Other	Total managerial reporting	Reconciliation to financial statements	Financial statements
      Segment's assets	6,316	6,530	10,178	23,024	(72)	22,952
      Investments in subsidiaries and associates	-	-	155	155	106	261
      Deferred tax assets	-	-	50	50	-	50
      Segments' assets	6,316	6,530	10,383	23,229	34	23,263
      Segments' liabilities	12,389	5,785	2,655	20,829	-	20,829
      Current tax liabilities	-	-	8	8	-	8
      Total liabilities	12,389	5,785	2,663	20,873	-	20,873

3. Changes in the composition of the Group

   Changes in the consolidation perimeter of Zagrebačka banka Group

   No changes in the composition of Zagrebačka banka Group in 2026.

4. Share capital

   Authorised and issued	31 March 2026		31 December 2025
   Issued share capital (EUR million)	850		850
   Number of shares	320,241,955		320,241,955

   Ordinary shares carry voting rights at shareholders' meetings, subject to a minimum shareholding of one share, The Bank does not have preference shares.

   The shareholder structure of the Bank as at 31 March 2026 and 31 December 2025 was as follows:

   			%
   	31 March 2026		31 December 2025
   UniCredit S.p.A.	96.19		96.19
   Other	3.81		3.81
   	100.00		100.00

   Consolidated Annual reports of UniCredit S.p.A., Milan is publicly disclosed and available on the web.

5. Basic and diluted earnings per share

   For the purposes of calculating earnings per share, earnings are calculated as the profit after tax attributable to equity holders.

   			EUR million
   	31 March 2026		31 December 2025
   Profit after tax attributable to equity holders	136		510
   Weighted average number of ordinary shares	320,321,102		320,320,833
   Basic and diluted earnings per share (expressed in EUR per share)	1.70		1.58

6. Risk management

   The major risks to which the Bank is exposed are:

   • credit risk,

   • liquidity risk,

   • market risks and

   • operational risk.

   Information on the nature of the Bank's exposure to risks, as well as on the methods used by the management to identify, measure and manage risks are in more details disclosed in the annual financial statements.

   Stress tests and multiple scenarios sensitivity analyses are performed. They are calibrated based on reasonable and realistic estimates and assumptions. Results confirm that the Bank has a strong capital and liquidity positions, which are also in stressed conditions above the regulatory and internal thresholds.

7. Measurement of fair values

Fair values are categorised into different levels in a fair value hierarchy based on the inputs used in the valuation techniques, as follows:

• Level 1: quoted prices (unadjusted) in active markets for identical assets or liabilities,

• Level 2: inputs other than quoted prices included in Level 1 that are observable for the asset or liability, either directly (i.e. as prices) or indirectly (i.e. derived from prices),

• Level 3: inputs for the asset or liability that are not based on observable market data (unobservable inputs).

The Bank recognises transfers between levels of the fair value hierarchy at the end of the reporting period during which the change has occurred. More information about the assumptions applied in measuring fair values is disclosed in the annual financial statements.

1. Measurement of fair values (continued)
   1. Financial instruments measured at fair value - fair value hierarchy

      EUR million

      Financial assets at fair value through profit or loss

      Debt securities held for trading Equity securities held for trading Financial assets mandatorily at fair

      value

      Derivative financial instruments Hedge accounting

      Fair value changes of the hedged

      items in portfolio hedge of interest rate risk

      Financial assets at fair value through other comprehensive income

      Debt securities at fair value through other comprehensive income

      Equity securities at fair value through other comprehensive income

      31 March 2026 31 December 2025

      Level 1	Level 2	Level 3	Total	Level 1	Level 2	Level 3	Total
      -	5	-	5	-	-	-	-
      -	-	-	-	-	1	-	1
      -	7	1	8	-	8	1	9
      -	50	-	50	-	43	-	43
      -	175	-	175	-	136	-	136
      -	(72)	-	(72)	-	(47)	-	(47)
      -	165	1	166	-	141	1	142

      1,130 611 - 1,741 1,094 622 - 1,716

      - - 1 1 - - 1 1

      Total financial assets measured at fair value

      1,130 611 1 1,742 1,094 622 1 1,717

      1,130 776 1 1,908 1,094 763 2 1,859

      Financial liabilities at fair value through profit or loss

      Derivative financial instruments	-	47	-	47	-	37	-	37
      Hedge accounting	-	127	-	127	-	118	-	118
      Fair value changes of the hedged

      -	(75)	-	(75)	-	(33)	-	(33)
      -	99	-	99	-	122	-	122
      truments not measured at fair value EUR million Fair value

      items in portfolio hedge of interest rate risk

      Total financial liabilities measured at fair value

   2. Fair value of financial ins

      	Book value	Total	Level 1	Level 2	Level 3
      31 March 2026 Financial assets at amortised cost	17,687	17,583	1,340	8,391	7,852
      Financial liabilities at amortised cost	20,584	20,582	-	287	20,295
      31 December 2025
      Financial assets at amortised cost	17,821	17,835	1,215	7,746	8,874
      Financial liabilities at amortised cost	20,324	20,317	-	265	20,052

      Assumptions used in estimates and measurement of fair values are based on requirements of IFRS 13.

2. Commitments and contingencies Gross carrying amount Loan commitments given Financial guarantees given Commercial guarantees given

   Other commitments given

   Total ECL allowance

   Loan commitments given Financial guarantees given

   Commercial guarantees given

   Other commitments given

   Total EUR million

   Stage 1	Stage 2	Stage 3	Total	Stage 1	Stage 2	Stage 3	Total
   2,630	70	3	2,703	2,574	93	14	2,681
   279	46	2	327	290	44	2	336
   1,158	75	14	1,247	1,138	51	11	1,200
   21	1	-	22	17	1	-	18
   4,088	192	19	4,299	4,019	189	27	4,235
   EUR million 31 March 2026 31 December 2025
   Stage 1	Stage 2	Stage 3	Total	Stage 1	Stage 2	Stage 3	Total
   (23)	(6)	(3)	(32)	(21)	(6)	(14)	(41)
   (3)	(2)	(2)	(7)	(3)	(2)	(1)	(6)
   (13)	(2)	(7)	(22)	(14)	(2)	(6)	(22)
   -	-	-	-	-	-	-	-
   (39)	(10)	(12)	(61)	(38)	(10)	(21)	(69)

   31 March 2026 31 December 2025
3. Events after the reporting period

There were no significant reportable events after the reporting period.