Zagrebačka banka unaudited financial results Q4 2025

1. Management report for the period from 1 January to 31 December 2025

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 December 2025

   2. Balance sheet as at 31 December 2025

   3. Income statement for the period from 1 January to 31 December 2025

   4. Cash flow statement for the period from 1 January to 31 December 2025

   5. Statement of changes in equity for the period from 31 December 2024 to 31 December 2025

   6. Notes to the financial statements

1. Management report for the period from 1 January to 31 December 2025 Zagrebačka banka dd recorded profit after tax of EUR 510 million in 2025, reflecting an increase of EUR 60 million (+13.3%) compared to the same period in 2024.

   We continued to deliver strong performance, supported by stable operating income and a cost base that reflects our commitment to operational excellence. Our capital and liquidity positions remain solid, and the credit portfolio is prudently managed with adequate provisioning.

   We remain deeply connected to our community, actively supporting the economy and the society in which we operate. This is achieved through our leading role in financing loans across the market, by continuously investing in superior user experiences and the security of our solutions, by maintaining a resilient payment infrastructure, and providing a wide range of services to both corporates and individuals.

   We are actively transforming our culture, driving simplification and digitalization across our organization and processes to ensure long-term sustainability. We continue to advance our ESG ambitions and remain fully committed to initiatives that generate positive environmental, social, and governance impact.

   We are also dedicated to being an employer of choice by supporting our people through comprehensive work-life balance and wellbeing initiatives, fostering an environment in which our employees can thrive both professionally and personally.

   Key performance indicators:
   • Operating income: EUR 848 million
   • Operating expenses: EUR 248 million
   • Profit before impairment and other provisions: EUR 592 million
   • Impairment and other provisions: EUR 17 million
   • Loans and advances to customers: EUR 12,811 million
   • Deposits from customers : EUR 18,079 million
   Operating income amounted to EUR 848 million, increased by EUR 39 million (+4.8%) Y/Y:

   • Net interes t income amounted to EUR 553 million, decreased by EUR 35 million (-6.0%).

   • Net fee and commiss ion income amounted to EUR 195 million, increased by EUR 21 million (+12.1%).

   • Net trading and other income and expens es amounted to EUR 100 million, increased by EUR 53 million (+112.8%).

     Operating expenses at EUR 248 million, higher by EUR 1 million (+0.4%). Cost to income ratio equals to 29.25%. Profit before impairment and other provisions amounted to EUR 592 million, higher by EUR 35 million (+6.3%), as a result of the previously described movements in Operating income and Operating expenses. Impairment and other provisions write back amounted to EUR 17 million. Total ass ets of the Bank amounted to EUR 23,263 million, higher by EUR 2,091 million (+9.8%) BoY.
   • Net loans and advances to customers amounted to EUR 12,811 million, increased by EUR 1,855 million (+17.3%) due to increase in corporate and retail lending.
   • Deposits from customers remain the key source of funding, reaching EUR 18,079 million. The increase of EUR 664 million (+3.8%) 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 884 million, higher by EUR 749 million (+554.8%). Financial results for the period from 1 January to 31 December 2025

     Zagrebačka banka dd Income s tatement (EURm)			Δ 2025 vs 2024
     	2025	2024	EUR m	%
     	1	2	3 (1-2)	4 (3/2)
     Interest income	727	791	(64)	(8.1 %)
     Interest expense	(174)	(203)	29	(14.3 %)
     Net interes t income	553	588	(35)	(6.0 %)
     Fee and commission income	250	222	28	12.6 %
     Fee and commission expense	(55)	(48)	(7)	14.6 %
     Net fee and commission income	195	174	21	12.1 %
     Net trading and other income and expenses	100	47	53	112.8 %
     Operating income	848	809	39	4.8 %
     Operating expenses	(248)	(247)	(1)	0.4 %
     Cash contributions to resolution funds and deposit guarantee schemes	(8)	(5)	(3)	60.0 %
     Profit before impairment and other provisions	592	557	35	6.3 %
     Impairment and other provisions	17	(13)	30	(230.8 %)
     Share of the profit or (-) loss of investments in subsidiaries, joint ventures and associates accounted for using the equity method	2	3	(1)	(33.3 %)
     Profit before tax	611	547	64	11.7 %
     Income tax	(101)	(97)	(4)	4.1 %
     Net profit	510	450	60	13.3 %

     Financial results for the period from 1 January to 31 December 2025 (continued)

     Zagrebačka banka dd Balance sheet (EURm)			Δ 2025 vs. 2024
     	31 Dec 2025	31 Dec 2024	EURm	%
     	1	2	3 (1-2)	4 (3/2)
     Cash, cash balances at central banks and other demand deposits	2,993	4,124	(1,131)	(27.4 %)
     Financial assets at fair value through profit or loss	180	146	34	23.3 %
     Fair value changes of the hedged items in portfolio hedge of interest rate risk	(47)	19	(66)	(347.4 %)
     Non-trading financial assets mandatorily at fair value through profit or loss	9	7	2	28.5 %
     Financial assets at fair value through other comprehensive income	1,717	826	891	107.9 %
     Financial assets at amortised cost:	17,821	15,464	2,357	15.2 %
     Debt securities	2,295	1,573	722	45.9 %
     Loans and advances to credit institutions	2,715	2,965	(250)	(8.4 %)
     Loans and advances to customers	12,811	10,926	1,885	17.3 %
     Tangible and intangible assets	192	195	(3)	(1.5 %)
     Investments in subsidiaries, joint ventures and associates	261	266	(5)	(1.9 %)
     Other assets	137	124	13	10.5 %
     Total assets	23,263	21,171	2,092	9.9 %
     Financial liabilities held for trading	155	198	(43)	(21.7 %)
     Fair value changes of the hedged items in portfolio hedge of interest rate risk	(33)	7	(40)	(571.4 %)
     Financial liabilities measured at amortised cost:	20,323	18,197	2,126	11.7 %
     Debt securities issued	1,296	594	702	118.2 %
     Deposits from credit institutions	884	135	749	554.8 %
     Deposits from customers	18,079	17,415	664	3.8 %
     Other financial liabilities	64	53	11	20.8 %
     Provisions for risks and charges	196	219	(23)	(10.5 %)
     Other liabilities	196	201	(5)	(2.5 %)
     Total liabilities	20,837	18,822	2,015	10.7 %
     Equity	2,426	2,349	77	3.3 %
     Total equity and liabilities	23,263	21,171	2,092	9.9 %

     Rating		31 December 2025
     Fitch Ratings Ltd.	Long Term Issuer Default Rating	A-
     	Short Term Rating	F2
     	Viability	bbb
     	Shareholder Support	a-
     	Outlook	Stable

     Zagreb, 6 February 2026

     Significant events and transactions

     Geopolitical tensions and market uncertainties

     At the end of 2025, 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 20251

   Annex 1

   ISSUER'S GENERAL DATA

   Reporting period:

   to

   Year:

   Quarter:

   Quarterly financial statements

   egis tration number (MB):

   Issuer's home

   Member State code:

   Entity's registration

   number (MBS):

   Pers onal identification

   number (OIB):

   LEI:

   Ins titution

   code:

   Name of the is s uer: Zagrebačka banka d.d.

   Pos tcode and town:

   Zagreb

   treet and hous e number: Trg bana Josipa Jelačića 10

   E-m ail addres s :zaba@unicreditgroup.zaba.hr

   Web addres s :www.zaba.hr

   Number of employees (end of the reporting

   Cons olidated report:

   (KN-not cons olidated/KD-cons olidated)

   Audited:

   (RN-not audited/RD-audited)

   Names of s ubs idiaries (according to IFRS):

   Regis tered office:

   MB:

   Bookkeeping firm:

   (Yes /No)

   (nam e of the bookkeeping firm)

   Contact pers on: Ferizović Antica

   (only name and s urname of the contact pers on)

   Telephone:

   E-m ail addres s :antica.ferizovic@unicreditgroup.zaba.hr

   Audit firm: KPMG Croatia d.o.o.

   (nam e of the audit firm)

   Certified auditor:

   (nam e and s urname)

   No

   RN

   KN

   3138

   10000

   307

   PRNXTNXHBI0TSY1V8P17

   92963223473

   80000014

   HR

   3234495

   4

   2025

   31.12.2025

   1.1.2025

   
   
   

   1 Average number of employees in head office and branch network of Zagrebačka banka dd in 4Q 2025 amounts to 3,175.

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

2. Balance sheet as at 31 December 2025

   in EUR
   Submitter: Zagrebačka banka d.d.
   Item 1	ADP code	Las t day of the preceding bus ines s year	Current period
   	2	3	4
   As s ets
   Cas h, cas h balances at central banks and other demand depos its (from 2 to 4)	001	4,124,302,770	2,992,537,215
   Cas h in hand	002	483,330,997	484,893,124
   Cas h balances at central banks	003	3,482,451,241	2,386,595,325
   Other demand depos its	004	158,520,532	121,048,766
   Financial as s ets held for trading (from 6 to 9)	005	50,317,766	43,644,371
   Derivatives	006	49,611,918	42,663,944
   Equity ins truments	007	705,848	980,427
   Debt s ecurities	008	0	0
   Loans and advances	009	0	0
   Non-trading financial as s ets mandatorily at fair value through profit or los s (from 11 to 13)	010	6,984,308	8,560,543
   Equity ins truments	011	6,984,308	8,560,543
   Debt s ecurities	012	0	0
   Loans and advances	013	0	0
   Financial as s ets at fair value through profit or los s (15 + 16)	014	0	0
   Debt s ecurities	015	0	0
   Loans and advances	016	0	0
   Financial as s ets at fair value through other comprehens ive income (from 18 to 20)	017	825,999,378	1,716,673,919
   Equity ins truments	018	662,800	927,420
   Debt s ecurities	019	825,336,578	1,715,746,499
   Loans and advances	020	0	0
   Financial as s ets at amortis ed cos t (22 + 23)	021	15,464,202,833	17,820,731,875
   Debt s ecurities	022	1,573,469,335	2,294,544,538
   Loans and advances	023	13,890,733,498	15,526,187,337
   Derivatives - hedge accounting	024	96,137,761	136,488,887
   Fair value changes of the hedged items in portfolio hedge of interes t rate ris k	025	18,748,406	-47,240,273
   Inves tments in s ubs idiaries , joint ventures and as s ociates	026	265,530,623	261,097,772
   Tangible as s ets	027	150,755,850	143,167,634
   Intangible as s ets	028	44,024,401	48,583,603
   Tax as s ets	029	64,024,498	50,070,277
   Other as s ets	030	60,195,461	88,606,626
   Fixed as s ets and dis pos al groups clas s ified as held for s ale	031	0	0
   Total as s ets (1 + 5 + 10 + 14 + 17 + 21 + from 24 to 31)	032	21,171,224,055	23,262,922,449
   Liabilities
   Financial liabilities held for trading (from 34 to 38)	033	47,409,627	37,238,078
   Derivatives	034	47,409,627	37,238,078
   Short pos itions	035	0	0
   Depos its	036	0	0
   Debt s ecurities is s ued	037	0	0
   Other financial liabilities	038	0	0
   Financial liabilities at fair value through profit or los s (from 40 to 42)	039	0	0
   Depos its	040	0	0
   Debt s ecurities is s ued	041	0	0
   Other financial liabilities	042	0	0
   Financial liabilities meas ured at amortis ed cos t (from 44 to 46)	043	18,202,139,032	20,323,282,815
   Depos its	044	17,550,388,777	18,963,692,303
   Debt s ecurities is s ued	045	594,488,057	1,295,795,491
   Other financial liabilities	046	57,262,198	63,795,021
   Derivatives - hedge accounting	047	150,648,515	117,974,702
   Fair value changes of the hedged items in portfolio hedge of interes t rate ris k	048	7,317,606	-32,912,531
   Provis ions	049	218,706,407	196,303,575
   Tax liabilities	050	14,720,260	8,135,895
   Share capital repayable on demand	051	0	0
   Other liabilities	052	181,237,477	186,728,037
   Liabilities included in dis pos al groups clas s ified as held for s ale	053	0	0
   Total liabilities (33 + 39 + 43 + from 47 to 53)	054	18,822,178,924	20,836,750,571
   Equity
   Capital	055	850,068,233	850,068,233
   Share premium	056	465,253,748	465,451,715
   Equity ins truments is s ued other than capital	057	0	0
   Other equity	058	1,996,305	1,857,150
   Accumulated other comprehens ive income	059	-4,906,307	9,990,515
   Retained profit	060	526,085,074	527,991,266
   Revaluation res erves	061	0	0
   Other res erves	062	61,175,022	61,175,022
   ( - ) Treasury shares	063	-268,443	-182,895
   Profit or los s attributable to owners of the parent	064	449,641,499	509,820,872
   (--) Interim dividends	065	0	0
   Minority interes ts [non-controlling interes ts ]	066	0	0
   Total equity (from 55 to 66)	067	2,349,045,131	2,426,171,878
   Total equity and liabilities (54 + 67)	068	21,171,224,055	23,262,922,449

3. Income statement for the period from 1 January to 31 December 2025

   in EUR Submitter: Zagrebačka banka d.d.
   Item	ADP code	Sam e period of the previous year		Current period
   		Cum ulative	Quarter	Cum ulative	Quarter
   1	2	3	4	5	6
   Interes t income	001	791,174,350	194,428,570	727,000,547	181,923,153
   (Interes t expens es )	002	202,966,201	48,943,690	173,887,074	44,315,522
   (Expens es on s hare capital repayable on demand)	003	0	0	0	0
   Dividend income	004	13,793,189	4,713	64,423,032	47,060,499
   Fees and commis s ions income	005	221,559,987	55,778,866	250,463,855	62,324,806
   (Fees and commis s ions expens es )	006	47,870,512	11,580,093	55,634,482	15,090,366
   Gains or (-) los s es on derecognition of financial as s ets and liabilities not meas ured at fair value through profit or los s , net	007	-3,166,689	-1,975,030	-10,661	-10,807
   Gains or (-) los s es on financial as s ets and liabilities held for trading, net	008	7,701,917	2,403,972	-6,622,820	5,640,239
   Gains or los s es on non-trading financial as s ets mandatorily at fair value through profit or los s , net	009	1,101,797	271,067	644,891	39,413
   Gains or (-) los s es on derecognition of financial as s ets and liabilities at fair value through profit or los s , net	010	0	0	0	0
   Gains or (-) los s es from hedge accounting, net	011	-2,542,546	-2,763,881	1,037,861	748,891
   Exchange rate differences [gain or (-) los s ], net	012	4,921,057	436,555	23,203,419	-1,105,698
   Gains or (-) los s es on derecognition of of inves tments in s ubs idiaries , joint ventures and as s ociates , net	013	0	0	-456,300	0
   Gains or (-) los s es on derecognition of non-financial as s ets , net	014	154,746	359	55,700	14,952
   Other operating income	015	31,985,299	4,816,770	23,109,995	1,841,819
   (Other operating expens es )	016	6,782,380	804,525	5,172,407	2,376,920
   Total operating income, net (1 - 2 - 3 + 4 + 5 - 6 + from 7 to 15 - 16)	017	809,064,014	192,073,653	848,155,556	236,694,459
   (Adm inis trative expens es )	018	222,980,961	60,784,755	224,292,065	65,593,346
   (Cas h contributions to res olution boards and depos it guarantee s chemes )	019	5,022,517	4,527,517	8,112,529	7,572,529
   (Depreciation)	020	24,133,753	5,816,998	23,370,835	5,842,809
   Modification gains or (-) los s es , net	021	0	0	0	0
   (Provis ions or (-) revers al of provis ions )	022	34,214,648	33,208,461	3,818,549	14,199,603
   (Im pairment or (-) revers al of impairment on financial as s ets not meas ured at fair value through profit or los s )	023	-22,404,315	3,034,045	-20,711,786	-30,475,368
   (Im pairment or (-) revers al of impairment of inves tments in s ubs idiaries , joint ventures and as s ociates )	024	343,021	0	0	-8
   (Im pairment or (-) revers al of impairment on non-financial as s ets )	025	537,844	536,758	289,547	277,177
   Negative goodwill recognis ed in profit or los s	026	0	0	0	0
   Share of the profit or (-) los s es of inves tments in s ubs idiaries , joint ventures and as s ociates accounted for us ing the equity method	027	2,552,681	1,248,522	1,520,759	694,658
   Profit or (-) los s from fixed as s ets and dis pos al groups clas s ified as held for s ale not qualifying as dis continued operations	028	0	0	0	0
   Profit or (-) loss before tax from continuing operations (17 - 18 to 20 + 21 - from 22 to 25 + from 26 to 28)	029	546,788,266	85,413,641	610,504,576	174,379,029
   (Tax expens e or (-) income related to profit or los s from continuing operations )	030	97,146,767	16,500,119	100,683,704	25,257,502
   Profit or (-) loss after tax from continuing operations (29 - 30)	031	449,641,499	68,913,522	509,820,872	149,121,527
   Profit or (-) loss after tax from discontinued operations (33 - 34)	032	0	0	0	0
   Profit or (-) los s before tax from dis continued operations	033	0	0	0	0
   (Tax expens e or (-) income related to dis continued operations )	034	0	0	0	0
   Profit or ( - ) loss for the year (31 + 32; 36 + 37)	035	449,641,499	68,913,522	509,820,872	149,121,527
   Attributable to minority interes t [non-controlling interes ts ]	036	0	0	0	0
   Attributable to owners of the parent	037	449,641,499	68,913,522	509,820,872	149,121,527
   STATEMENT OF OTHER COMPREHENSIVE INCOME
   Income or (-) los s for the current year	038	449,641,499	68,913,522	509,820,872	149,121,527
   Other comprehens ive income (40+ 52)	039	15,236,122	5,736,429	14,903,392	4,481,299
   Items that will not be reclas s ified to profit or los s (from 41 to 47 + 50 + 51)	040	1,826,178	1,403,399	-881,209	-122,170
   Tangible as s ets	041	2,168,222	1,682,076	-1,297,271	-60,334
   Intangible as s ets	042	0	0	0	0
   Actuarial gains or (-) los s es on defined benefit pens ion plans	043	42,692	42,692	-5,494	-5,494
   Fixed as s ets and dis pos al groups clas s ified as held for s ale	044	0	0	0	0
   Share of other recognis ed income and expens e of entities accounted for us ing the equity method	045	0	0	0	0
   Fair value changes of equity ins truments meas ured at fair value through other comprehens ive income	046	8,120	-13,306	234,690	-83,160
   Gains or (-) los s es from hedge accounting of equity ins truments at	047	0	0	0	0
   Fair value changes of equity ins truments meas ured at fair value	048	0	0	0	0
   Fair value changes of equity ins truments meas ured at fair value	049	0	0	0	0
   Fair value changes of financial liabilities meas ured at fair value through profit or los s attributable to changes in their credit ris k	050	0	0	0	0
   Income tax relating to items that will not be reclas s ified	051	-392,856	-308,063	186,866	26,818
   Items that may be reclas s ified to profit or los s (from 53 to 60)	052	13,409,944	4,333,030	15,784,601	4,603,469
   Hedge of net inves tments in foreign operations [effective portion]	053	0	0	0	0
   Foreign currency trans lation	054	0	0	0	0
   Cas h flow hedges [effective portion]	055	10,337,528	1,393,445	-864,290	-2,160,688
   Hedging ins truments [not des ignated elements ]	056	0	0	0	0
   Debt ins truments at fair value through other comprehens ive income	057	6,016,062	3,890,738	20,113,803	7,774,674
   Fixed as s ets and dis pos al groups clas s ified as held for s ale	058	0	0	0	0
   Share of other recognis ed income and expens e of inves tments in s ubs idiaries , joint ventures and as s ociates	059	0	0	0	0
   Income tax relating to items that may be reclas s ified to profit or (-) los s	060	-2,943,646	-951,153	-3,464,912	-1,010,517
   Total comprehens ive income for the current year (38 + 39; 62 + 63)	061	464,877,621	74,649,951	524,724,264	153,602,826
   Attributable to minority interes t [non-controlling interes t]	062	0	0	0	0
   Attributable to owners of the parent	063	464,877,621	74,649,951	524,724,264	153,602,826

4. Cash flow statement for the period from 1 January to 31 December 2025

   in EUR
   Submitter: Zagrebačka banka d.d.
   Item	ADP code	Sam e period of the previous year	At the reporting date of the current period
   1	2	3	4
   Operating activities - direct method
   Interes t received and s imilar receipts	001	0	0
   Fees and commis s ions received	002	0	0
   (Interes t paid and s imilar expenditures )	003	0	0
   (Fees and commis s ions paid)	004	0	0
   (Operating expens es paid)	005	0	0
   Net gains /los s es from financial ins truments at fair value through s tatement of profit or los s	006	0	0
   Other receipts	007	0	0
   (Other expenditures )	008	0	0
   Operating activities - indirect method
   Profit/(los s ) before tax	009	546,788,266	610,504,576
   Adjus tments :		0	0
   Impairment and provis ions	010	12,348,177	-16,603,695
   Depreciation	011	24,133,753	23,370,835
   Net unrealis ed (gains )/los s es on financial as s ets and liabilities at fair value through s tatement of profit or los s	012	5,913,003	-2,482,588
   (Profit)/los s from the s ale of tangible as s ets	013	-154,387	-55,700
   Other non-cas h items	014	-588,208,149	-592,335,394
   Changes in as s ets and liabilities from operating activities
   Depos its with the Croatian National Bank	015	-1,163,418,957	1,162,352,548
   Depos its with financial ins titutions and loans to financial	016	-180,002,978	-907,359,699
   Loans and advances to other clients	017	-623,331,924	-1,890,346,695
   Securities and other financial ins truments at fair value through other comprehens ive income	018	-63,413,273	-855,858,212
   Securities and other financial ins truments held for trading	019	-169,030	-273,716
   Securities and other financial ins truments at fair value through s tatement of profit or los s , not traded	020	-422,626	-3,688,832
   Securities and other financial ins truments mandatorily at fair value through s tatement of profit or los s	021	0	0
   Securities and other financial ins truments at amortis ed cos t	022	-90,584,573	-750,702,545
   Other as s ets from operating activities	023	-20,429,823	-28,403,859
   Depos its from financial ins titutions	024	-55,928,907	253,292,829
   Trans action accounts of other clients	025	241,355,801	1,043,925,156
   Savings depos its of other clients	026	-8,410,523	-6,217,307
   Time depos its of other clients	027	218,398,201	-255,960,506
   Derivative financial liabilities and other liabilities held for trading	028	0	0
   Other liabilities from operating activities	029	-12,537,090	-38,029,500
   Interes t received from operating activities [indirect method]	030	786,014,965	690,484,484
   Dividends received from operating activities [indirect method]	031	0	0
   Interes t paid from operating activities [indirect method]	032	-198,556,843	-185,913,093
   (Incom e tax paid)	033	-105,270,330	-96,102,075
   Net cas h flow from operating activities (from 1 to 33)	034	-1,275,887,247	-1,846,402,988
   Inves ting activities
   Cas h receipts from the s ale / payments for the purchas e of tangible and intangible as s ets	035	-26,195,992	-20,508,310
   Cas h receipts from the s ale / payments for the purchas e of inves tments in branches , as s ociates and joint ventures	036	18,689,141	3,328,000
   Cas h receipts from the s ale / payments for the purchas e of s ecurities and other financial ins truments held to maturity	037	0	0
   Dividends received from inves ting activities	038	13,795,671	62,065,452
   Other receipts /paym ents from inves ting activities	039	0	0
   Net cas h flow from inves ting activities (from 35 to 39)	040	6,288,820	44,885,142
   Financing activities
   Net increas e/(decreas e) in loans received from financing activities	041	0	439,968,195
   Net increas e/(decreas e) in debt s ecurities is s ued	042	-73,953,652	701,307,434
   Net increas e/(decreas e) in Tier 2 capital ins truments	043	443,193,932	0
   Increas e in s hare capital	044	0	0
   (Dividends paid)	045	0	-448,319,920
   Other receipts /(paym ents ) from financing activities	046	-448,298,971	0
   Net cas h flow from financing activities (from 41 to 46)	047	-79,058,691	692,955,709
   Net increas e/(decreas e) of cas h and cas h equivalents (34 + 40 + 47)	048	-1,348,657,118	-1,108,562,137
   Cas h and cas h equivalents at the beginning of period	049	5,477,880,945	4,124,302,771
   Effect of exchange rate fluctuations on cas h and cas h equivalents	050	-4,921,057	-23,203,419
   Cas h and cas h equivalents at the end of period (48 + 49 + 50)	051	4,124,302,770	2,992,537,215

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

5. Statement of changes in equity for the period from 31 December 2024 to 31 December 2025

   		for the period from 31.12.2024	to 31.12.2025												in EUR
   Sources of equity changes	ADP code	Attributable to owners of the parent											Non-controlling interes t		Total
   		Equity	Share prem ium	Equity ins trum en ts is s ued other than capital	Other equity	Accum ulat ed other com prehen s ive incom e	Retained profit	Revaluation reserves	Other reserves	( ) Treasury shares	Profit or ( - ) loss attributable to owners of the parent	(-) Interim dividends	Accum ulate d other com prehen s ive incom e	Other item s
   1	2	3	4	5	6	7	8	9	10	11	12	13	14	15	16
   Opening balance [before res tatem ent]	001	850,068,233	465,253,748	0	1,996,305	-4,906,306	526,085,074	0	61,175,022	-268,442	449,641,498	0	0	0	2,349,045,132
   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	-6,570	0	0	0	0	0	0	0	0	-6,570
   Opening balance [current period] (1 + 2 + 3)	004	850,068,233	465,253,748	0	1,996,305	-4,912,876	526,085,074	0	61,175,022	-268,442	449,641,498	0	0	0	2,349,038,562
   Ordinary shares issue	005	0	197,967	0	0	0	0	0	0	0	0	0	0	0	197,967
   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
   Exercis e or expiration of other equity ins trum ents is s ued	008	0	0	0	0	0	0	0	0	0	0	0	0	0	0
   Conversion of receviables 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	-448,338,737	0	0	0	0	0	0	0	-448,338,737
   Purchase of treasury shares	012	0	0	0	0	0	0	0	0	-687,500	0	0	0	0	-687,500
   Sale or cancellation of treasury shares	013	0	0	0	0	0	0	0	0	773,047	0	0	0	0	773,047
   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
   Trans fers am ong com ponents of equity	016	0	0	0	0	0	449,641,499	0	0	0	-449,641,499	0	0	0	0
   Equity increas e or ( - ) decreas e res ulting from bus ines s com binations	017	0	0	0	0	0	0	0	0	0	0	0	0	0	0
   Share bas ed paym ents	018	0	0	0	-139,155	0	0	0	0	0	0	0	0	0	-139,155
   Other increas e or (-) decreas e in equity	019	0	0	0	0	0	603,430	0	0	0	0	0	0	0	603,430
   Total com prehens ive incom e for the current year	020	0	0	0	0	14,903,391	0	0	0	0	509,820,873	0	0	0	524,724,264
   Clos ing balance [current period] (from 4 to 20)	021	850,068,233	465,451,715	0	1,857,150	9,990,515	527,991,266	0	61,175,022	-182,895	509,820,872	0	0	0	2,426,171,878

6. Notes to the condens ed interim financial statements

Segment's assets 6,316 6,530 10,178 23,024 (72) 22,952

1. 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 2025.

2. Share capital

   Authoris ed and is s ued	31 December 2025		31 December 2024
   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 December 2025 and 31 December 2024 was as follows:

   			%
   	31 December 2025		31 December 2024
   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.

3. 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 .

   	31 December 2025	EUR million 31 December 2024
   Profit after tax attributable to equity holders	510	450
   Weighted average number of ordinary shares	320,320,833	320,279,945

   Basic and diluted earnings per share (expressed in EUR per share)

   1.58 1.40
4. 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.

5. 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 as s ets 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 as s ets 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

      Total financial assets measured at fair value 31 December 2025 31 December 2024

      Level 1	Level 2	Level 3	Total	Level 1	Level 2	Level 3	Total
      -	-	-	-	-	-	-	-
      -	1	-	1	-	1	-	1
      -	8	1	9	-	5	2	7
      -	43	-	43	-	49	-	49
      -	136	-	136	-	96	-	96
      -	47		47	-	(19)	-	(19)
      -	235	1	236	-	132	2	134

      1,094 622 - 1,716 231 594 - 825 - - 1 1 - - 1 1 1,094 622 1 1,717 231 594 1 826 1,094 857 2 1,953 231 726 3 960

      Financial liabilities at fair value through profit or loss

      Derivative financial instruments	-	37	-	37	-	47	-	47
      Hedge accounting Fair value changes of the hedged	-	118	-	118	-	151	-	151

      -	(33)	-	(33)	-	7	-	7
      -	122	-	122	-	205	-	205
      ruments 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 inst

      	Book value	Total	Level 1	Level 2	Level 3
      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
      31 December 2024 Financial assets at amortised cost	15,464	15,657	729	5,227	9,701
      Financial liabilities at amortised cost	18,197	18,194	-	568	17,626

      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
   2,574	93	14	2,681	2,113	333	3	2,449
   290	44	2	336	296	26	4	326
   1,138	51	11	1,200	953	100	24	1,077
   17	1	-	18	32	3	-	35
   4,019	189	27	4,235	3,394	462	31	3,887
   EUR million 31 December 2025 31 December 2024
   Stage 1	Stage 2	Stage 3	Total	Stage 1	Stage 2	Stage 3	Total
   (21)	(6)	(14)	(41)	(12)	(14)	(2)	(28)
   (3)	(2)	(1)	(6)	(2)	(2)	(3)	(7)
   (14)	(2)	(6)	(22)	(13)	(5)	(12)	(30)
   -	-	-	-	(1)	-	-	(1)
   (38)	(10)	(21)	(69)	(28)	(21)	(17)	(66)

   31 December 2025 31 December 2024
3. Events after the reporting period

There were no significant reportable events after the reporting period.