The Board of Directors approved the Half-yearly Financial Report of the Unidata Group as of 30 June 2026

The Board of Directors approved the Half-yearly Financial Report of the Unidata Group as of 30 June 2026 | Phynwire

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PRESS RELEASE

UNIDATA S.p.A.

Sede legale Roma Milano Bari unidata@pec.unidata.it Viale A. G. Eiffel 100 Viale E. Jenner 33 Viale delle Dalie 5 info@unidata.it 00148 Roma (RM). 20159 Milano (MI) 70026 Modugno (BA) C.F./P.IVA 06187081002 Tel. (+39) 06 4040 41 Tel. (+39) 02 8908 91 Tel. (+39) 06 4040 41 Capitale Soc. €. 10.000.000 i.v.

THE BOARD OF DIRECTORS APPROVED THE HALF -YEARLY FINANCIAL REPORT OF

THE UNIDATA GROUP AS OF 30 JUNE 2026

REVENUES +8% AT € 53.6 MILLION , EBITDA +8% AT € 13.1 MILLION, ADJUSTED

EBITDA AT € 13.7 MILLION WITH ADJUSTED MARGINALITY AT 25.6%

RECURRING REVENUES AT € 34.5 MILLION, EQUAL TO 64.3% OF TOTAL REVENUES

NET FINANCIAL DEBT AT € 43.9 MILLION DUE TO THE INVESTMENT IN UNICENTER

AND THE WORKING CAPITAL OF ONGOING PROJECTS, EXPECTED TO RECOVER IN

THE SECOND HALF OF THE YEAR

2026 GUIDANCE CONFIRMED

Main consolidated data of the Unidata Group • Total revenues : € 53.6 million (€ 49.5 million in H1 2025) +8% YoY • Recurring revenues: € 34.5 million, equal to 64.3% of total revenues • EBITDA: € 13.1 million (€ 12.2 million in H1 2025) +8% YoY • EBITDA Margin: 24.5% (24 .7% in H1 2025), in line YoY • Adjusted EBITDA : € 13.7 million (€ 13.7 million in H1 2025)1, in line YoY • Adjusted EBITDA Margin : 25.6% (27 .7% in H1 2025)1 • EBIT: € 7.0 million (€ 6.7 million in H1 2025) +4% YoY • EBIT Margin : 13.0% (13.6% in H1 2025) • Profit for the period: € 2.0 million (€ 4.1 million in H1 2025 : € 2.2 million net of non -recurring non-cash financial income) • Investments : € 10.0 million • Net Financial Debt: € 43.9 million (€ 37.7 million as of 31 December 2025)

1 Please note that the comparative figure for Adjusted EBITDA and Adjusted EBITDA Margin as of 30 June 2025, has been appropriately restated to take into account the elimination of intercompany profit accrued with respect to associated companies.

PRESS RELEASE

UNIDATA S.p.A.

• Number of customers : +5% compared to 31 December 2025 • Km of optical fiber: +380 km compared to 31 December 2025, reaching about 8,880 km

Roma, 10 September 2026 – Unidata S.p.A. (UD.MI) (the “Company ”), a telecommunications, cloud and IoT services operator, listed on the Euronext Milan market – STAR Segment, organised and managed by Borsa Italiana S.p.A., announces that the Board of Directors, which met on today’s date under the chairmanship of Renato Brunetti, examined and approved the Consolidated Half -Year Financial Report of the Unidata Group as of 30 June 2026, prepared in accordance with IAS/IFRS International Accounting Standards.

Renato Brunetti, Chairman and CEO of Unidata , stated: "The first half of 2026 confirms the solidity of Unidata's growth path, with increasing revenues and EBITDA, and the Group's ability to combine business development with targeted investments in strategic infrastructure. We look to the second half of the year with confidence, continuing to expand our customer base and strengthen our infrastructure, while also accelerating the development of businesses with higher technological content and added value —from Cloud to Smart IoT, from Data Centers to Cybersecurity —on which the Group is focusing a significant portion of its future growth strategy. Along this path, the launch of Unicenter operations with the green colocation TIER IV data center project in Rome represents a strategic step, strengthening our competitive positioning and laying the foundations for growth and value creation in the medium to long term" .

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CONSOLIDATED ECONOMIC AND FINANCIAL FIGURES AS OF 30 JUNE 2026

Total consolidated revenues , equal to € 53.6 million , increased ( +8%) compared to the first 6 months of 2025 (€ 49.5 million), with a breakdown of revenues by business area that saw an increase in both Service revenues (+5%) and Infrastructure revenues (+17%). The recurring component remains the cornerstone of the business model: € 34.5 million, equal to 64.3% of total revenue s, confirming the visibility and quality of the Group's cash flows.

EBITDA amounted to € 13.1 million , up 8% compared to € 12.2 million in the first half of 2025, driven by the positive revenue performance. The EBITDA margin stood at 24.5%, in line with the 24.7% of the first half of 2025.

PRESS RELEASE

UNIDATA S.p.A.

Adjusted EBITDA is equal to € 13.7 million , in line with € 13.7 million2 in the first 6 months of 2025.

The adjustments decreased from € 1.5 million to € 0.6 million: in 2026 they only concern the elimination of the intercompany profit accrued with respect to associated companies, accounted for using the equity method, as required by the international accounting standard IAS 28, while in 2025 they also included non-recurring costs. Adjusted EBITDA Margin is 25.6% compared to 27.7%2 in the first 6 months of 2025 and remains consistent with the target of approximately 25% envisaged in the 2026 Guidance.

Operating Income (EBIT) amounted to € 7.0 million , up 4% compared to the first six months of 2025 (€ 6.7 million), despite an increase in depreciation and amortization related to increased investments.

EBIT Margin was 13.0% (13.6% in the first half of 2025).

Total financial income and expenses recorded expenses of € 3.7 million , up from expenses of € 0.9 million in the first half of 2025. The change reflects the elimination of non -monetary financial income recognised in the first half of 2025 for € 1.9 million (with a net effect on the financial income of € 1.8 million), in accordance with the requirements of IFRS 9 as part of the renegotiation of the € 50 million loan payable on June 19, 2025. The remaining change, equal to € 0.9 million, is due to the higher net loss attributable to associated companies, accounted for using the equity method (€ 1.9 million compared to € 1.0 million), attributable to the start -up phase of the Unifiber and Unitirreno infrastructure projects and consistent with the expected profile of their respective development plans.

Net financial expenses remained essentially stable. It should also be noted that the average annual interest rate on existing loans is approximately 4.5%.

Profit for the period is equal to € 2.0 million compared to the result recorded in the first half of 2025 (€ 4.1 million). The comparison is significantly impacted by the non-monetary financial income of € 1.9 million recognized in the first half of 2025 as part of the renegotiation of the loan. Net of this financial income, the result for the comparison period would have been approximately € 2.2 million:

on a like -for-like basis, the change is therefore limited and reflects the higher amortization related

2 Please note that the comparative figure for Adjusted EBITDA and Adjusted EBITDA Margin as of 30 June 2025, has been appropriately restated to take into account the elimination of intercompany profit accrued with respect to associated companies.

PRESS RELEASE

UNIDATA S.p.A.

to the investments made and the negative contribution of associated companies in the start -up phase.

During the first 6 months of 2026, Investments of € 10.0 million were made, divided into € 1.8 million in intangible assets, € 3.7 million in tangible assets, mainly related to the infrastructure area, and € 4.5 million in financial assets (Unicenter).

Net Financial Debt is € 43.9 million , compared to € 37.7 million a s of 31 December 2025. The change of € 6.2 million mainly reflects a € 4.5 million investment in the newly established subsidiary UniCenter S.p.A., € 5.5 million investment in tangible and intangible assets, and € 0.5 million in dividends distributed and purchase of treasury shares, compared to a cash flow from operating activities of € 4.0 million. This compares with a cash flow of € 13.7 million before changes in net working capital and reflects the temporary absorption of working capital related to ongoing projects: contractual activities , relating to work completed and not yet invoiced, went from € 0.5 million to € 4.9 million.

The Group expects to recover this working capital during the second half of the year, through invoicing and collection of project payments. The Group confirms a Net Financial Debt of between € 37 million and € 39 million for the 2026 financial year.

Adjusted Net Financial Debt , an alternative performance indicator calculated net of overdue trade receivables and invoices to be issued for € 7.1 million, mainly relating to projects for the Public Administration, and the change in contractual a ctivities for € 4.5 million, relating to work performed and not yet invoiced, is equal to € 32.3 million.

Net equity as of 30 June 2026 is equal to € 88.7 million compared to € 86.7 million as of 31 December 2025.

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PRESS RELEASE

UNIDATA S.p.A.

REVENUES BY BUSINESS AREAS

Service

The Service revenues line , which recorded a growth of 5% , includes:

• revenues relating to the main business lines (Fiber & Networking, Datacenter & Cloud and IoT & Smart Solutions) divided by type of customer (Consumer, Business, Wholesale and PA);

• revenues relating to direct and indirect sales through resellers of the Group’s services and to network and voice trading services.

Infrastructure

The Infrastructure revenues line , which recorded an increase of 17% , includes mainly revenues for the construction of telecommunications infrastructure attributable to the works connected to the Unifiber project.

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Thousands of € H1 2026 H1 2025 Variazione % Consumer 3,301 2,937 364 12% Business 13,291 11,791 1,501 13% of which recurring 11,513 11,220 293 3% of which project 1,779 571 1,208 212% Wholesale 2,053 849 1,204 142% of which recurring 722 355 367 104% of which project 1,331 494 837 169% Public Administration 2,346 2,711 -365 -13% of which recurring 319 478 -159 -33% of which project 2,028 2,233 -205 -9% Reseller 15,076 15,081 -5 0% Voice Trading and voice network 2,297 3,164 -867 -27% Service Revenues 38,364 36,533 1,832 5% Creation, Delivery & Assurance 13,732 11,344 2,389 21% Materials trading 355 700 -345 -49% Infrastructure Revenues 14,087 12,044 2,043 17% Deferred income 552 769 -217 -28% Other income 629 129 500 389% Total 53,633 49,474 4,159 8%

PRESS RELEASE

UNIDATA S.p.A.

CUSTOMERS

The first half of 2026 confirmed growth in direct customers (+5%) compared to the previous year. Total direct customers as of 30 June 2026 amounted to no. 32,629 , compared to no. 31,0223 as of 31 December 2025. The increase affects all major customer categories; in particular, the Business customer sector recorded a 2% increase, while the Consumer customer sector recorded a 6% increase. The number of whitelabel lines activated through the partner network recorded an increase compared to 31 December 2025, reaching 34,605 active lines (of which 362 international) as of 30 June 2026.

The following table illustrates the calculation of Average Revenue Per User (ARPU) broken down by major customer categories and compared to the previous year's figure.

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FIBER OPTIC INFRASTRUCTURE EXTENSION

During the first 6 months of 2026, the fiber optic network was extended by approximately 380 km using proprietary cables, reaching a total extension of approximately 8,880 km by 30 June 2026.

Unidata's fiber optics in buildings provide coverage for approximately 550,000 residential and business Real Estate Units (UIs), including several industrial and business districts.

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SIGNIFICANT EVENTS THAT OCCURRED DURING THE FIRST SIX MONTHS OF 2026

On 27 January 2026 , Unidata announced the signing of a three -year commercial and strategic partnership agreement with Serdal Holding LLC, a company headquartered in Abu Dhabi, United Arab Emirates (UAE). The agreement represents a strategic step in Unidata's internationalization journey

3 Please note that customer data has been re stated and, for this reason, the number of customers as of 31 December 2025 is 31,022 instead of the 31,095 reported on 31 March 2026.

Type of customersNumber of

CustomersARPUNumber of

CustomersARPU

Consumer 27,322 21 25,798 21 6% 0% Business 5,307 353 5,224 352 2% 0% Total 32,629 31,022 5%H1 2026 FY 2025 % Change

PRESS RELEASE

UNIDATA S.p.A.

and allows the Group to enter the UAE market, one of the most dynamic economic environments globally, characterized by a strong commitment to the development of advanced digital infrastructure, smart services, cloud, the Internet of Things, and Artificial Intelligence.

On 23 March 2026 , Unidata announced that it had established UniCenter S.p.A. jointly with Azimut Libera Impresa SGR S.p.A., as the management company of the “Fondo Infrastrutture per la Crescita – ESG”, for the creation of a green colocation TIER IV data center in Rome, with a capacity of approximately 20 MW and over 2,000 racks of capacity, for a total surface area of 13,000 sqm, with national and international customers and which will use energy from renewable sources.

During the first half of 2026 , in execution of the existing shareholders' authorization, the Company continued its share buyback program, for a total of € 171,000. As of 30 June 2026, the Company holds 745,861 treasury shares, for a total value of € 2,897,010.

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SIGNIFICANT EVENTS AFTER THE FIRST SIX MONTHS OF 2026

On 2 July 2026 , Unidata announced its entry into the Intermonte Valore Italia Index, developed as part of the PMI2Change project promoted by Banca Generali in collaboration with Intermonte to promote 100 excellent SMEs listed on the Italian Stock Exchange.

On 20 July 2026 , Unidata announced that it had been awarded a contract in a temporary consortium and had signed a contract for the assignment by Infratel Italia S.p.A. of the supply of ultra -broadband Internet connectivity services to the municipal offices in the regions affected by the 2016 earthquake (Abruzzo, Lazio, Marche, and Umbria), including the supply and installation of the access network and management and maintenance services.

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FORESEEABLE EVOLUTION OF MANAGEMENT

In light of the performance recorded in the first half of 2026, expectations for the remainder of the year remain consistent with the development and growth objectives defined by the Group. On this basis, the Group confirms its 2026 Guidance. The expected acceleratio n, in line with the historical seasonality of Unidata revenues, in the second half of the year primarily reflects the continuation of activities related to the contract signed with Infratel Italia S.p.A. on 20 July 2026, the progress of

PRESS RELEASE

UNIDATA S.p.A.

infrastructure work relating to the Unifiber project, and the invoicing of special projects whose working capital is already recognized in the balance sheet as of 30 June 2026.

From a commercial perspective, the company plans to continue expanding its customer base, particularly in the retail segment. At the same time, it will continue its commitment to developing telecommunications infrastructure, both through Unifiber S.p.A. an d Unifiber Puglia S.r.l., both of which are owned by Unifiber Italy S.p.A., for the construction of fiber optic networks in the grey areas of Lazio and Puglia, and through the initiatives led by Unitirreno Holding S.p.A. and Unitirreno Submarine Network S.p.A., dedicated to the development of submarine fiber optic i nfrastructure in the Tyrrhenian Sea.

Another area of development will be Public Administration contracts and IoT (Internet of Things) solutions, for which the activities resulting from previously awarded tenders will continue, possibly complemented by new opportunities related to participation in further competitive procedures.

Activit ies planned for the Rome 5G project will also continue.

Overall, for the second half of 2026, the Group intends to continue along the path outlined in the 2026-2028 Business Plan, approved by the Board of Directors of the parent company Unidata S.p.A.

on 1st December 2025, progressively strengthening its positioning in the most technologically advanced and value -added sectors. In this context, particular importance will continue to be given to the development of Cloud, Smart IoT, Data Center, and Cybersecurity activities, considered strategic in the Group's evolution towards a tech company model and in the pursuit of sustainable growth in the medium to long term.

In particular, during the second half of the year, the newly established company Unicenter S.p.A. will begin operations. Through this company, the Group intends to develop a project to build a green colocation TIER IV data center in Rome. This initiative represents an important step in the Group's development and diversification process, strengthening its position in the high -tech digital infrastructure sector. The project also aligns with the strategic guideli nes outlined in the 2026 -2028 Business Plan, which identifies data centers as one of the key areas to leverage to support future growth and the Group's progressive evolution toward a tech company model.

Overall, the outlook for the remainder of the financial year remains oriented towards continuing the growth and strategic evolution path undertaken by the Group, through the consolidation of traditional activities and, at the same time, the progressive dev elopment of businesses with higher technological

PRESS RELEASE

UNIDATA S.p.A.

content and added value. The ongoing initiatives and planned investments are therefore aimed at further strengthening the Group's competitive positioning and laying the foundations for achieving the economic, operational and strategic objectives defined for the medium to long term and, in particular, for achieving the 2026 Guidance, which provides for:

• Total revenues : between € 114 and € 116 million;

• Adjusted EBITDA : between € 28 and € 29 million;

• Adjusted EBITDA Margin : equal to approximately 25%;

• Net Financial Debt : between € 37 million and € 39 million.

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MEETING WITH THE FINANCIAL COMMUNITY

The results as of 30 June 2026 will be presented to the financial community on today’s date , Thursday 10 September 2026, during a video conference at 4pm (3pm UK).

The video conference will be attended by the Chairman of the Board of Directors and CEO, Renato Brunetti, and the CFO and Investor Relations Officer, Roberto Giacometti.

For information about attending the video conference, please contact eleonora.nicolini@cdr -

communication.it .

The presentation can also be downloaded from the website investors.unidata.it .

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FILING OF DOCUMENTATION

Half-Year Financial Report will be made available to the public, within the legal deadlines, at the Company's registered office, on the "1info" storage mechanism ( www.1info.it ) and on the Company's website investors.unidata.it in the Investors/Financial Statements and Periodic Reports section.

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The Manager in charge for preparing the corporate accounting documents of Unidata S.p.A., Mr. Roberto Giacometti, certifies, pursuant to art. 154 -bis, paragraph 2, of Legislative Decree 58/98, that the accounting information contained in this press release corresponds to the d ocumentary evidence, books, and accounting records.

PRESS RELEASE

UNIDATA S.p.A.

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Finally, please note that the attached income statement and balance sheet represent reclassified statements and, as such, have not been audited by the auditors.

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This press release may contain forward -looking statements regarding future events and results of Unidata S.p.A., which are based on current expectations, estimates, and projections regarding the industry in which the Company operates, events, and managemen t's current beliefs. These statements inherently involve risk and uncertainty because they depend on the occurrence of future events and a variety of factors, many of which are beyond Unidata's control, including global macroeconomic conditions, changes in business conditions, further deterioration of markets, the impact of competition, and political, economic, and regulatory developments in Italy.

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This press release is available on Borsa Italiana, on the “1info” storage mechanism ( www.1info.it ) and on the Company's website investors.unidata.it in the “Investors/Financial Press Releases” section.

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For further information:

UNIDATA S.p.A.

Roberto GIACOMETTI

CFO ed Investor Relations Officer +39 329 2478696

roberto.giacometti@unidata.it

Investor Relations Advisor Media Relations

CDR COMMUNICATION CDR COMMUNICATION

Silvia DI ROSA Stefania TREVISOL +39 335 78 64 209 +39 347 87 82 490 silvia.dirosa@cdr -communication.it stefania.trevisol@cdr -communication.it

Eleonora NICOLINI

+39 333 97 73 749

eleonora.nicolini@cdr -communication.it

PRESS RELEASE

UNIDATA S.p.A.

Specialist

INTERMONTE SIM SPA

Galleria de Cristoforis, 7/8, 20122 Milano Tel +39 02 771151

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Unidata S.p.A., a Telecommunications, Cloud and IoT Operator, was founded in 1985 by three partners still in the Company. With a fiber optic network of about 8,880 km in continuous expansion, a wireless network and a proprietary data center, the Unidata Group supplies over 32,500 business, wholesale and residential customers with ultra -broadband connectivity services with FTTH (Fiber to the Home) network architectures, wireless connectivity, VoIP services, Cloud services and other dedicated solutions, with a high level of reliab ility and security. The company is also active in the Internet of Things (IoT), with the development and supply of solutions for the home automation and Smart City market.

Unidata S.p.A. ISIN CODE: IT0005573065 (Reuters UD MI - Bloomberg UD IM) is listed on Euronext Milan – STAR segment of Borsa Italiana.

Attachments:

• Consolidated Financial situation as of 30 June 2026 • Consolidated Income statement as of 30 June 2026 • Consolidated Net Financial Debt as of 30 June 2026 • Consolidated Cash flow statement as of 30 June 2026

PRESS RELEASE

UNIDATA S.p.A.

CONSOLIDATED FINANCIAL SITUATION AS OF 30 JUNE 2026

€ As of 30 June 2026 As of 31 December 202 5 Other intangible assets 15,845,598 15,982,164 Goodwill 37,525,268 37,525,268 Assets for rights of use 10,705,319 11,306,352 Property, plant and equipment 62,299,229 62,187,567 Investments 14,982,488 12,961,301 Non-current financial assets 3,986,214 3,953,081 Active derivative financial instruments 5,642 14,053 Other non -current receivables and assets 5,546 5,546 Active deferred taxes 1,032,352 1,183,882

TOTAL NON -CURRENT ASSETS 146,387,656 145,119,214

Inventories 2,791,196 2,154,518 Contractual activities 4,905,901 450,000 Trade receivables 27,401,370 34,428,836 Tax receivables 0 242,376 Other current financial assets 1,245,326 315,300 Other current receivables and assets 8,333,854 5,919,022 Cash and cash equivalents 12,764,499 25,090,916

TOTAL CURRENT ASSETS 57,442,146 68,600,968

TOTAL ASSETS 203,829,802 213,720,182

Share capital 10,000,000 10,000,000 Legal reserve 1,715,463 1,373,044 Extraordinary reserve 578,432 388,594 IAS19 TFR reserve 597,537 660,177 Quotation reserve -132,725 -132,725 Treasury shares reserve -2,897,010 -3,030,615 Other reserves 37,519,164 37,311,800 Retained earning/losses 34,000,279 27,840,753 FTA reserve 5,298,320 5,298,320 Net profit (loss) for the period 2,031,909 6,992,990

TOTAL NET EQUITY 88,711,369 86,702,338

Employment benefits 2,403,246 2,494,025 Passive derivative financial instruments 485,745 860,661 Non-current financial loan 50,989,964 55,157,797 Other non -current liabilities 8,562,693 9,086,084 Passive deferred taxes 4,428,709 4,690,462

TOTAL NON -CURRENT LIABILITIES 66,870,357 72,289,029

Trade payables 29,068,264 35,071,837 Tax payables 1,091,810 -

Current financial payables 6,927,066 7,937,933 Other current liabilities 11,160,936 11,719,045

TOTAL CURRENT LIABILITIES 48,248,076 54,728,815

TOTAL LIABILITIES 203,829,802 213,720,182

PRESS RELEASE

UNIDATA S.p.A.

CONSOLIDATED INCOME STATEMENT AS OF 30 JUNE 2026

€ As of 30 June 2026 As of 30

June 2025

Revenues 52,451,822 48,576,747 Other revenues 1,180,887 897,337

TOTAL REVENUES 53,632,709 49,474,084

Purchase of raw materials and consumables 2,076,951 2,239,880 Service costs 30,874,811 28,307,010 Other operating costs 1,336,916 965,967 Value adjustments to assets and other provisions 38,872 57,412

TOTAL PRODUCTION COSTS 34,327,550 31,570,269

64% 64%

ADDED VALUE 19,305,159 17,903,815

36% 36%

Personnel costs 6,160,663 5,677,403

11% 11%

EBITDA Reported 13,144,496 12,226,412 EBITDA Margin 24.51% 24.71% Adjusted EBITDA 13,737,554 13,679,837 Adjusted EBITDA Margin 25.61% 27.7%

Amortisation 6,152,845 5,492,971

EBIT 6,991,651 6,733,441

13.0% 13.6%

Financial income 190,022 1,990,453 Financial charges 2,010,645 1,878,796 Income and charges from shareholdings valued at equity 1,915,333 1,032,759

TOTAL FINANCIAL INCOME AND CHARGES -3,735,956 -921,102

EARNINGS BEFORE TAXES 3,255,695 5,812,339

Income taxes 1,223,786 1,707,515

RESULT FOR THE PERIOD 2,031,909 4,104,824

PRESS RELEASE

UNIDATA S.p.A.

CONSOLIDATED NET FINANCIAL DEBT AS OF 30 JUNE 2026

Figures in € 30/06/2026 31/12/2025 A Cash 12,764,499 25,090,916 B Cash equivalents C Other current financial assets 1,245,326 315,300 D Liquidity (A + B + C) 14,009,825 25,406,216 E Current financial debt (including debt instruments, but excluding the current portion of non -current financial debt) 1,235,365 3,890,864 F Current portion of non -current financial debt 5,691,701 4,047,069 G Current Financial Debt (E + F) 6,927,066 7,937,933 H Current Net Financial Debt (G - D) - 7,082,759 - 17,468,283 I Non-current financial debt (excluding current portion and debt instru-

ments) 50,989,964 55,157,797 J Debt instruments K Trade payables and other non -current payables L Non-current financial debt (I + J+ K) 50,989,964 55,157,797 M Total financial debt (H + L) 43,907,205 37,689,514

PRESS RELEASE

UNIDATA S.p.A.

CONSOLIDATED CASH FLOW STATEMENT AS OF 30 JUNE 2026

€ 30/06/2026 30/06/2025 A) Cash Flow from operating activities Profit (loss) of the period 2,031,909 4,104,824 Income tax expenses 1,223,786 1,707,515 Interest paid / (Interest received) 1,820,623 -111,657 (Capital gain) Capital loss from equity investments evaluated through the equity method 1,915,333 1,032,759 Other (Capital gain) Capital loss 94,346 617,838 Profit (loss) before income tax expenses, interests, dividends, capital gains and capital losses from transfer 7,085,997 7,085,997 Adjustments for non -cash items Fund reserve / (Release of funds) 468,551 482,365 Amortisation 6,152,845 5,492,971 Cash Flow before changes in net working capital 13,707,393 13,707,393 Changes in net working capital (Increase) Decrease in inventories and recovery rights for customers' returns -5,131,451 -339,583 (Increase) Decrease of trade receivables 7,013,241 4,807,572 Increase (Decrease) in trade payables and liabilities for future refund to customers -8,228,332 -5,156,922 Other changes in net working capital -2,692,481 -1,140,071 Cash Flow after changes in net working capital 4,668,369 4,668,369

Other adjustments

(Income tax expenses) -100,086 -658,132 Increase (Use) of funds -61,631 -170,462 Increase (Use) of liabilities for employments benefit -526,252 -165,052 Cash Flow from operating activities (A) 3,980,401 10,503,965

B) Cash flows from investing activities (Investments)/Disinvestments in intangible fixed assets -1,780,175 -1,088,054 (Investments)/Disinvestments in tangible fixed assets -3,746,733 -3,037,780 (Investments)/Disinvestments in equity investments -4,499,555 -441,621 Other changes in cash flows from investment activities 32,601 -97,910 Cash flows from investing activities (B) -9,993,862 -4,665,365

C) Cash flows from financing activities Third party means Increase (decrease) of short -term payables towards banks -766,168 -565,918 New loans 0 50,000,000 (Pay back of loans) -2,570,000 -32,970,000 Interestì received/(Interest paid) -1,317,052 -1,403,592 Increase (decrease) in leasing loans -187,078 -295,234 Release of secured deposit 2,400,000 Other changes in financing activities -1,000,000

Owners’ Equity

Dividends paid -301,207 -302,584 Purchase of treasury shares -171,451 -173,034 Cash flows from financing activities (C) -6,312,955 16,689,638

D) Increase (decrease) in cash and cash equivalents (A+B+C) -12,326,416 22,528,238

Cash and cash equivalents as of Beginning of the Period 25,090,916 4,850,488 Cash and cash equivalents as of End of the Period 12,764,499 27,378,726