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Table of contents
I. CONSOLIDATED INCOME STATEMENT – EXPENSE BY FUNCTION 4
II. CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME 5
III. CONSOLIDATED STATEMENT OF FINANCIAL POSITION 6
IV. CONSOLIDATED STATEMENT OF CHANGES IN EQUITY 7
V. CONSOLIDATED STATEMENT OF CASH FLOWS 9
VI. EXPLANATORY NOTES TO THE CONDENSED INTERIM CONSOLIDATED FINANCIAL
STATEMENTS 10
1. General information 10 2. Basis for presentation, estimates made and accounting policies 11 3. Changes to the Group’s structure 13 4. Events occurred since the end of 2025 14 5. Cost of sales and administration and sales expenses 17 6. Employee benefits expenses 18 7. Other income and expenses 18 8. Net finance costs 20 9. Segment reporting 20 10. Property, plant and equipment, goodwill and other intangible assets 23 10.1. Property, plant and equipment 23 10.2. Goodwill 24 10.3. Right -of-use 25 10.4. Other intangible assets 26 11. Investments accounted for using the equity method 27 12. Non-current financial assets and other current financial assets 30 13. Cash and cash equivalents 31 14. Inventories 31 15. Equity 32 15.1. Share capital and Share premium 32 15.2. Own shares 32 15.3. Cumulative translation differences 33 15.4. Earnings per share 34 15.5. Non-controlling interests 34 15.6. Dividends 34 16. Provisions 35 17. Financial liabilities 39 18. Taxation 42 19. Contingencies 47 20. Business combinations 48
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20.1. Goodwill added in 2026 48 20.2. Goodwill added in 2025 whose valuation is being reviewed in 2026 48 20.3. Goodwill added in 2025 and not modified in 2026 48 21. Balances and transactions with related parties 49 22. Average headcount 51 23. Events after the statement of financial position 51 APPENDIX I. – Summary of the main accounting policies 52 Directors’ interim report 53
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I. CONSOLIDATED INCOME STATEMENT – EXPENSE BY FUNCTION
Six-month period
ended 30 June (In thousands of Euros) Note 2026 2025 Revenue 9 1,000,754 1,005,095 Cost of sales 5, 6 (665,976) (654,798) Gross profit/loss 334,778 350,297 Other income 7 6,073 10,968 Administration and sales expenses 5, 6 (242,722) (260,386) Other expenses 7 (2,340) (1,717) Equity accounted for using the equity method 11 5,024 2,012 Operating profit/loss (EBIT) 100,813 101,174 Finance income 8 8,551 7,151 Finance expenses 8 (25,915) (21,641) Net finance costs (17,364) (14,490) Profit/loss before tax 83,449 86,684 Income tax 18 (34,987) (39,121) Profit/loss after tax from ongoing operations 48,462 47,563 Consolidated profit/loss for the period 48,462 47,563
Attributable to:
Owners of the parent company 46,332 45,940 Non-controlling interests 2,130 1,623
Earnings per share from ongoing operations attributable to the owners of the parent company (Euros per share)
- Basic 15.4 0.03 0.03
- Diluted 15.4 0.03 0.03
Notes on pages 10 to 51 form an integral part of these condensed interim consolidated financial statements.
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II. CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME
Six month period ended 30 June (In thousands of Euros)
2026 2025
Profit/loss for the period 48,462 47,563
Other comprehensive income:
Items that are going to be reclassified to profit/loss Translation differences for foreign operations 49,326 (60,343)
49,326 (60,343)
Total comprehensive income for the period, net of tax 97,788 (12,780)
Attributable to:
- Owners of the parent company 95,794 (13,623)
- Non-controlling interests 1,994 843
97,788 (12,780)
Notes on pages 10 to 51 form an integral part of these condensed interim consolidated financial statements.
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III. CONSOLIDATED STATEMENT OF FINANCIAL POSITION
(In thousands of Euros) Note 30 June 2026
31 December
2025
ASSETS
Property, plant and equipment 10 391,876 373,572 Goodwill 10 465,940 467,840 Right -of-use 10 88,996 87,649 Other intangible assets 10 221,264 234,949 Investments accounted for using the equity method 11 28,472 22,704 Non-current financial assets 12 21,720 20,134 Deferred tax assets 50,185 47,976 Non-current assets 1,268,453 1,254,824 Inventories 14 29,061 25,667 Clients and other receivables 395,952 333,974 Receivables with Prosegur Group 21 36,130 32,486 Current tax assets 46,884 59,536 Other financial assets 12 21,449 19,833 Cash and cash equivalents 13 489,382 1,019,741 Current assets 1,018,858 1,491,237 Total assets 2,287,311 2,746,061
EQUITY
Share capital 15 29,465 29,698 Share premium 15 33,134 33,134 Own shares 15 (8,077) (16,648) Translation differences (638,189) (687,651) Retained earnings and other reserves 792,223 817,273 Equity attributed to holders of equity instruments of the parent company 208,556 175,806 Non-controlling interests 46,026 44,298 Total equity 254,582 220,104
LIABILITIES
Financial liabilities 17 732,204 705,701 Long -term lease liabilities 10 66,500 64,603 Deferred tax liabilities 54,858 63,883 Provisions 16 91,117 86,284 Non-current liabilities 944,679 920,471 Suppliers and other payables 353,872 339,050 Current tax liabilities 59,610 71,660 Financial liabilities 17 515,963 1,098,651 Short -term lease liabilities 10 30,329 34,371 Payables with Prosegur Group 21 104,617 44,408 Provisions 16 2,499 4,120 Other current liabilities 21,160 13,226 Current liabilities 1,088,050 1,605,486 Total liabilities 2,032,729 2,525,957 Total equity and liabilities 2,287,311 2,746,061
Notes on pages 10 to 51 form an integral part of these condensed interim consolidated financial statements.
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IV. CONSOLIDATED STATEMENT OF CHANGES IN EQUITY
PERIOD ENDED 30 JUNE 2026
(In thousands of Euros) Equity attributed to holders of equity instruments of the parent company
Non-
controlling
interests
Total equity
Capital
(Note 15) Share
premium
(Note 15) Own
shares
(Note 15) Translation
differences Retained
earnings
and other
reserves Total
Balance at 1 January 2026 29,698 33,134 (16,648) (687,651) 817,273 175,806 44,298 220,104 Total comprehensive income for the period ended 30 June 2026 – – – 49,462 46,332 95,794 1,994 97,788 Capital reduction (Note 15) (233) – 8,000 – (7,767) – – – Dividends (Note 15) – – – – (62,465) (62,465) – (62,465) Accrued share -based incentives – – 571 – (1,331) (760) – (760) Other changes – – – – 181 181 (266) (85) Balance at 30 June 2026 29,465 33,134 (8,077) (638,189) 792,223 208,556 46,026 254,582
Notes on pages 10 to 51 form an integral part of these condensed interim consolidated financial statements.
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PERIOD ENDED 30 JUNE 2025
(In thousands of Euros) Equity attributed to holders of equity instruments of the parent company
Non-
controlling
interests
Total equity
Capital
(Note 15) Share
premium
(Note 15) Own
shares
(Note 15) Translation
differences Retained
earnings
and other
reserves Total
Balance at 1 January 2025 29,698 33,134 (9,107) (631,320) 800,300 222,705 41,132 263,837 Total comprehensive income for the period ended 30 June 2025 – – – (59,563) 45,940 (13,623) 843 (12,780) Dividends (Note 15) – – – – (62,960) (62,960) – (62,960) Accrued share -based incentives – – 240 – 287 527 – 527 Purchase of own shares – – (6,036) – – (6,036) – (6,036) Other changes – – – – (5,330) (5,330) 731 (4,599) Balance at 30 June 2025 29,698 33,134 (14,903) (690,883) 778,237 135,283 42,706 177,989
Notes on pages 10 to 51 form an integral part of these condensed interim consolidated financial statements.
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V. CONSOLIDATED STATEMENT OF CASH FLOWS
Six month period ending at 30 June (In thousands of Euros) Note 2026 2025 Cash flows from operating activities Profit/(Loss) of the period 48,462 47,563
Adjustments for:
Depreciation and amortisation 5, 10 71,868 69,350 Impairment losses on trade receivables and inventories 7 1,187 1,137 Investments accounted for using the equity method (5,024) (2,012) Changes in provisions 16 7,542 (13,599) Finance income 8 (11,097) (6,737) Finance expenses 8 28,461 27,501 Income tax 18 34,986 39,121 Other income (4,318 ) (533)
Changes in working capital, excluding the effect of acquisitions and translation
differences
Inventories (3,171) (10,767) Clients and other receivables (21,684) (23,858) Suppliers and other payables (6,564) 15,945 Payments of provisions 16 (12,470) (25,926) Other liabilities 1,838 2,284 Cash generated from operations Interest payments (12,839) (16,545) Income tax paid (37,990) (51,406) Net cash generated from operating activities 79,187 51,518 Cash flows from investing activities Interest received 3,038 1,368 Proceeds from transactions with associates 11 14,718 – Payments for the purchase of property, plant and equipment 10 (30,546) (20,484) Payments for the purchase of intangible assets 10 (6,492) (13,230) Payments for and proceeds from financial assets 12 (4,976) (5,220) Proceeds from the sale of property, plant and equipment (5,026) 1,042 Net cash generated from investing activities (29,284) (36,524) Cash flows from financing activities Payments from the issue of own shares and equity instruments 15 - (6,036) Payments from debentures and other negotiable securities (600,000) -
Proceeds from bank borrowings 166,151 467,334 Payments from bank borrowings (121,170 ) (308,359) Payments from other debts (5,673 ) (7,282) Payments from lease liabilities (22,5 37) (22,542) Paid dividends 4 and 15 (2,037 ) (513) Net cash generated from financing activities (585,666) 122,602 Net increase (decrease) in cash and cash equivalents (535,363) 137,596 Cash and cash equivalents at the beginning of the year 1,019 ,741 551,275 Effect of exchange differences on cash 5,004 (12,711) Cash and equivalents at the end of the year 489,382 676,160 Notes on pages 10 to 51 form an integral part of these condensed interim consolidated financial statements.
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VI. EXPLANATORY NOTES TO THE CONDENSED INTERIM CONSOLIDATED
FINANCIAL STATEMENTS
1. General information Prosegur Cash Group (hereinafter, “Prosegur Cash” or the “Cash Group”) is a business group made up of Prosegur Cash, S.A. (hereinafter, “the Company”) and its subsidiaries (together, Prosegur Cash or Cash Group) which provides securities logistics, cash management and other value -added services in the following countries: Spain, Portugal, Germany, Italy, Andorra, Cyprus, Czech Republic, Luxembourg, the United Kingdom, Sweden, Finland, Denmark, France, Austria, the United States, Argentina, Brazil, Chile, Peru, Uruguay, Paraguay, Colombia, the Dominican Republic, the Philippines, Singapore, New Zealand, Iceland, the Netherlands, Guatemala, El Salvador, Honduras, Nicaragua, Costa Rica, Ecuador, Mexico, India, Indonesia and Australia. The Cash Group is organised into the following geographical areas:
– Europe
– LATAM
– Rest of the world (AOA) The services provided by the Cash Group are distributed into the following business lines:
– Transport
– Cash management – Transformation Products Prosegur Cash, S.A. is a subsidiary controlled by the Spanish company Prosegur Compañía de Seguridad, S.A. (hereinafter, Prosegur or the Prosegur Group), which currently owns 82.37% of its shares. Accordingly, the Prosegur Group consolidates the Prosegur Cash Group in its financial statements. The registered offices of Prosegur Cash, S.A. are at Calle Santa Sabina, 8, Madrid (Spain).
Prosegur is under the control of Gubel, S.L. and Yirayira International S.L., which own 65.09% and 8.04%, respectively, of the shares in Prosegur Compañía de Seguridad S.A.
The corporate purpose of Prosegur Cash is to provide the following services through companies focusing on the Cash business:
(i) national and international transport services (by land, sea and air) of funds and other valuables (including jewellery, artworks, precious metals, electronic devices, voting ballots, legal evidence), including collection, transport, custody and deposit services;
(ii) processing and automation of cash (including counting, processing and packaging), as well as coin recycling, cash flow control and monitoring systems;
(iii) comprehensive ATM and network management solutions (including planning, loading, monitoring, first - and second -tier maintenance and balancing services);
(iv) cash planning and forecasting for financial entities;
(v) Cash -Today (including cash machines, cash deposit machines, recycling and coin and bill dispensing services); and custody services for cryptocurrency and other securities;
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(vi) until 31 March 2026, added -value outsourcing services (AVOS) in several countries for banks (including outsourcing of teller services, multi -agency services, cheque processing and related administrative services), (vii) correspondent banking activities (collection and payment management and payment of invoices, among others), (viii) foreign exchange services (also includes international payment services and online foreign
currency) and
(ix) Prosegur Crypto services for the purchase, sale and custody of tokenised gold , as well as cryptocurrency custody services.
The individual and consolidated annual accounts of Prosegur Cash, S.A. for 2025 were approved by the Shareholders General Meeting of 29 April 2026.
Structure of Prosegur Cash Prosegur Cash, S.A. is the parent company of a Group made up of subsidiaries, listed in Appendix I of the Notes to the Consolidated Annual Accounts at 31 December 2025 . Likewise, Prosegur Cash has Joint Arrangements and associates in place (Note 15 and Appendix II of the Notes to the Consolidated Annual Accounts at 31 December 2025 ).
Details of the principles applied to prepare the Prosegur Cash Consolidated Annual Accounts and define the consolidation scope are provided in Note 32.2 and Note 2 to the Consolidated Annual Accounts at 31 December 2025 .
2. Basis for presentation, estimates made and accounting policies These condensed interim consolidated financial statements of Prosegur Cash, for the six -month period ended 30 June 2026 , have been prepared in accordance with IAS 34 “Interim Financial Reporting”.
In accordance with the provisions of IAS 34, interim financial reporting is prepared solely with the intention of updating the content of the latest Consolidated Annual Accounts prepared by Prosegur Cash, emphasising the new activities, events and circumstances that occurred during the six -month period ended 30 June 2026 , and not duplicating the information previously published in the Consolidated Annual Accounts for 2025 .
Therefore, and for a proper understanding of the information included in these condensed interim consolidated financial statements, they should be read together with Prosegur Cash Consolidated Annual Accounts for the year ended 31 December 2025 , which were prepared in accordance with International Financial Reporting Standards (IFRS), adopted for use in the European Union and approved by the current European Commission Regulations and other applicable financial reporting regulations (IFRS -EU).
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Significant changes in accounting policies Except for the rest of the new standards and interpretations effective as of 1 January 2026 , described in Appendix I, the accounting policies applied in these condensed interim consolidated financial statements at 30 June 2026 are consistent with those applied in the preparation of Prosegur Cash Consolidated Annual Accounts at 31 December 2025 , the detail of which is included in Not e 32 of said Consolidated Annual Accounts.
Additionally, as indicated in Appendix I, IFRS 18 introduces, among other changes, three new requirements to improve companies’ reporting of their financial performance and provide investors with a better basis for analysing and comparing companies.
– It improves the comparability of the statement of financial performance by introducing three new categories: operating, investing and financing;
– It provides greater transparency of Management -defined performance measures by introducing new guidelines and breakdowns;
– It provides guidance to provide a more useful grouping of information in the financial statements.
The Cash Group is analysing the impact that IFRS 18 will have on its consolidated financial statements from 1 January 2027, and, although the changes will affect specific breakdowns in the Annual Accounts, the Consolidated Statement of Financial Position, and the Consolidated Statement of Cash Flows, the Cash Group estimates that the biggest changes due to the adoption of the Standard will occur in the Consolidated Income Statement, which will include new categories that will be classified among operating, investing and financing results.
The Cash Group is mainly assessing the classification of the following items among the different categories of the Income Statement:
– Profits/(losses) of the year, regarding investments accounted for using the equity method;
– Breakdown of the other income and other expenses item and classification among the different categories, if applicable;
– Classification of positive and negative exchange differences among the categories of operating, investing or financing results, depending on their origin;
– Breakdown of the finance expenses item by nature;
– Classification of expenses and income derived from the net monetary position;
– Classification of dividend income and income from property investments.
Estimates, assumptions and relevant judgements The preparation of the condensed interim consolidated financial statements, in accordance with IFRS -EU requires the application of relevant accounting estimates and the undertaking of judgements, estimates and assumptions in the process for application of the Prosegur Cash accounting policies and valuation of the assets, liabilities and profit and loss.
The tax expense for Corporate Income Tax for the six -month period ended 30 June 2026 is calculated based on the best estimate of the effective tax rate that the Cash Group expects for the annual period and the recoverability of recognised deferred tax assets.
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Comparative information
For comparative purposes and for each item in the consolidated statement of financial position, in the consolidated income statement, in the consolidated statement of comprehensive income, in the consolidated statement of cash flows, in the consolidated statement of changes in equity and in the notes to the condensed interim consolidated financial statements, in addition to the consolidated figures for the six -month period ended 30 June 2026 , the condensed interim consolidated financial statements show those for the same period of the previous year, except for the consolidated statement of financial position which shows the consolidated figures for the twelve -month period ended 31 December 2025 .
At 30 June 2026 , the Cash Group has a negative working capital of EUR 69,192 thousand (EUR 114,249 thousand negative working capital at 31 December 2025 ). This change compared to the working capital at 31 December 2025 is due to the reclassification from non -current liabilities to current liabilities of the financial debt held by the Cash Group from the issuance of uncovered bonds maturing in February 2026.
3. Changes to the Group’s structure In Appendix I to the Consolidated Annual Accounts for the year ended 31 December 2025 , relevant information is provided on the Group companies that were consolidated at that date.
During the first six months of 2026 , the following companies have been incorporated and wound up:
– In January 2026, Prosegur Logistik Management GmBH was incorporated in Germany.
– In February 2026, Prosegur Cash Management GmBH was incorporated in Germany.
– In February 2026, Prosegur Logistik Management GmBH & Co KG was incorporated in Germany.
– In February 2026, Prosegur Cash GmBH & Co KG was incorporated in Germany.
– In March 2026, Fideicomiso Financiero Individual Prosegur Digital Gold was incorporated in Argentina.
– In April 2026, Planopliafigurada Unipessoal LDA was incorporated in Portugal.
– In March 2026, Blindados SRL was wound up in Uruguay.
Sale of VN Group in Argentina and Paraguay to Prosegur Group On 31 March 2026, Prosegur Cash formalised the sale and transfer of 100% of the shares in the companies V.N. Global BPO S.A. (Argentina) and VN Global Paraguay S.A. to Prosegur Compañía de Seguridad, S.A. and another group company, as a means for the acquisition by said entities of the so-called added -value outsourcing services (AVOS) business for financial institutions and insurance companies in Argentina and Paraguay. Both operations are part of a single economic and legal transaction and have been contractually structured as interdependent.
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The company value agreed for the operations as a whole amounted to EUR 16,367 thousand for the Argentina company and EUR 3,414 thousand for the Paraguayan company at the time of the transaction.
The transaction responds to the strategic decision, independently adopted by Prosegur Cash to better achieve its business objectives, to monetise and enhance the value of the transferred businesses, freeing up resources to allocate them to investment opportunities with a stronger strategic fit and which are a priority in the capital allocation of Prosegur Cash Group and to the reduction of debt, and it culminates the divestment process, initiated in 2021, of most of the added -
value outsourcing services (AVOS) business, within the framework of the sale by Prosegur Cash to Prosegur Group of certain areas of said business in Spain, as well as the associated technology, communicated to the market in March 2021.
The transaction has been reviewed by the Prosegur Cash Audit Committee which has confirmed that it is fair and reasonable from the Company’s point of view and from the various Prosegur Group non -
controlling shareholders. Likewise, Kroll Advisory S.L. has issued an independent valuation report addressed to the Company’s Board of Directors in which it has determined a valuation range for the companies subject to the transfer.
4. Events occurred since the end of 2025 In addition to what is reflected in Note 3 on the changes to the structure of the Cash Group, the most relevant transactions and events that occurred during the first six months of 2026 are detailed below:
Geopolitical uncertainties
Macroeconomic outlook
During the first half of 2026, the global macroeconomic environment has been marked by a significant increase in uncertainty, stemming mainly from the intensification of geopolitical tensions in the Middle East. In particular, the conflict that began in late February is having a significant impact on energy markets, even causing interruptions in maritime traffic through the Strait of Hormuz and generating disruptions in the supply of oil and gas. These tensions are translating into a rebound in energy and other raw material prices, with direct effects on inflation expectations and global financial conditions.
Although actions for the de -escalation of the conflict have been taken by the parties involved during the first six months, central banks maintain a prudent stance due to the persistence of inflationary risks associated with the volatility of energy markets.
Despite this scenario of high uncertainty, global economic activity has shown resilience, supported by factors such as the strength of domestic demand in certain economies and the boost in investment, especially in technology sectors. Nevertheless, the outlook remains dependent on how geopolitical conflicts evolve and their potential impact on market growth and stability, in an environment where the expectation of a progressive normalisation persists if the resolution of the current tensions takes hold.
Consequently, the Cash Group’s results have shown a positive trend during the first six months of 2026, driven by:
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– Overall, steady business growth in local currency in all regions, with a particular increase in the AOA region;
– Growth of transformation products;
– Continuous search for alternatives to improve the Group’s financing structure. At 30 June 2026, fixed -rate debt as a proportion of total bank debt is 63% and variable -rate debt is 37% (43% and 57% at 2025 year -end, respectively).
Lastly, regarding the other existing armed conflicts in Ukraine and the Middle East, international pressure continues in an effort to force the parties involved to negotiate, but it is not known to what extent or for how long they will remain active. For this reason, the Cash Group continues to constantly monitor the macroeconomic and business variables that give it the best estimate of the potential associated impacts.
Currency risk
More than two and a half years after the arrival of the new government, Argentina remains in a process of macroeconomic stabilisation. The country has managed to maintain a fiscal surplus and a prudent monetary policy, and progress has been made towards greater exchange rate flexibility.
During the first half of 2026 , the impacts on the interim consolidated financial statements of the Cash Group arising from the economic situation in Argentina were as follows:
– Exchange rate changes: The total sales figure of the Group amounted to EUR 1,000,754 thousand in 2026 (EUR 1,005,095 thousand in the first half of 2025). Turnover, translated into euros, generated in countries with a functional currency other than the euro, and therefore exposed to exchange rate fluctuations, amounted to EUR 704,885 thousand (EUR 723,866 thousand in the first half of 2025).
– Hyperinflation and devaluation: Hyperinflation reached 16.97% in the first half of 2026 (15.30% in the same period in 2025), while the appreciation of the Argentine peso against the euro was approximately 3.3% (devaluation of 30.9% in 2025).
Capital reduction
On 10 February 2026, a deed was registered in the Companies Registry of Madrid relating to the reduction of capital through the redemption of 11,678,000 own shares of the Company, each with a nominal value of EUR 0.02, thus reducing the share capital by EUR 233,560, from EUR 29,698,260.74 to EUR 29,464,709.74. The resulting share capital is represented by 1,473,235,487 ordinary shares of a single class and series, each with a nominal value of EUR 0.02 (Note 15).
The capital reduction was carried out without refund of contributions and was made against free reserves by provisioning an unavailable voluntary reserve for the same amount as the capital reduction (that is EUR 233,560), in accordance with article 355 (c) of the Spanish Companies Act.
Sustainability
These condensed interim consolidated financial statements have been prepared taking into account the provisions of the informative documents issued by the International Accounting Standards Board (IASB) in November 2020 and in July 2023, which include information requirements in relation to climate change.
During the first three months of 2026, the Cash Group has continued to make progress in integrating ESG (Environmental, Social and Governance) criteria as an essential part of its corporate culture and responsible management model. These three pillars – environment, social commitment and good
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governance – continue to gain a presence in the Group’s management and reinforce its long -term sustainability.
The actions carried out in this period have been mainly aimed at enhancing environmental responsibility in the provision of services, promoting decent and stable employment, encouraging the continuous training of employees, ensuring the health and safety of professional teams, preserving human rights and maintaining the highest standards of regulatory compliance and good corporate governance. This commitment was endorsed by the renewal, in 2025, of the highest rating (G++) in AENOR’s good governance certification, a recognition that attests to the strength of the Group’s governance system.
Likewise, during 2026, the Board of Directors has continued to review and update the Company’s internal regulatory framework with the aim of reinforcing best corporate governance practices, approving the updates to the Tax Strategy Policy, the Information Security and Cybersecurity Policy, the Policy on Communication with Shareholders, Institutional Investors and Proxy Advisors, the Corporate Governance Policy, the Shareholder Remuneration Policy, the Policy for the Selection of Candidates for Directors, and the Financial Investment Policy.
The Cash Group continues to work on implementing policies that consolidate a corporate culture based on transparency, responsible innovation and proactive risk management.
In the environmental sphere, the Cash Group maintains a firm commitment to the progressive reduction of its emissions in the medium and long term. It should be noted that, due to the nature of its activity – focused on the provision of services and not on transformation or manufacturing –, the Cash Group’s operations do not generate a significant environmental impact, nor do they constitute a factor accelerating climate change or a threat to biodiversity.
Likewise, it is worth highlighting that Prosegur Cash has been included for the first time in Standard & Poor’s 2026 sustainability yearbook.
Lastly, it should be noted that Prosegur Cash was included in Forbes’ prestigious list as one of the 100 best companies to work for in Spain, and, additionally, was incorporated into the Ibex Gender Equality index.
For all the reasons mentioned above, as of the date these condensed interim consolidated financial statements were prepared, there is no obligation requiring the establishment of an environmental provision.
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5. Cost of sales and administration and sales expenses The main cost of sales and administration and sales expenses in the consolidated income statement for the six -month periods ended 30 June 2026 and 2025 are as follows:
Thousands of Euros Period ended 30 June
2026 2025
Supplies 48,667 47,301 Employee benefits expenses (Note 6) 418,870 427,169 Operating leases 4,844 2,780 Supplies and external services 103,457 97,224 Depreciation and amortisation 29,802 25,482 Other expenses 60,336 54,842 Total cost of sales 665,976 654,798
Thousands of Euros Period ended 30 June
2026 2025
Supplies 893 711 Employee benefits expenses (Note 6) 75,217 73,883 Operating leases 32,189 36,096 Supplies and external services 39,879 41,442 Depreciation and amortisation 42,066 43,868 Other expenses 52,478 64,386 Total administration and sales expenses 242,722 260,386
During the first six months of 2026 , the cost of sales and administration and sales expenses increased compared to the same period of the previous year, mainly due to the increase in supplies, depreciation of property, plant and equipment, and other external services expenses.
Total supplies in the consolidated income statement for the six -month period ended 30 June 2026 amount to EUR 49,560 thousand (June 2025 : EUR 48,012 thousand). Within the supplies category, costs totalling EUR 5,564 thousand are recorded for the Corban business in Uruguay (compared to EUR 4,284 thousand in June 2025).
The heading on Other expenses mainly includes insurance costs, freight and transport costs, costs for uniforms, travel, training and medical expenses of personnel, costs for taxes, costs for claims not covered by insurance, as well as costs for the acquisition of minor equipment and other minor items.
The heading on Supplies and external services includes the costs for the repair of items of transport, bill-counting equipment, operating subcontracts with third parties and other advisors such as lawyers, auditors and consultants.
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The costs for operating leases by right -of-use corresponding to contracts for a period equal to or less than one year and to lease contracts of low value assets for an amount equal to or less than USD 5 thousand are included under the heading on Operating leases. The remaining contracts are included in the heading on Right -of-use (Note 10.3).
The heading on Other expenses, under administration and sales, mainly includes expenses for management support services and trademark usage expenses for EUR 19,514 thousand and EUR 18,137 thousand, respectively (June 2025 : EUR 24,579 thousand and EUR 17,704 thousand, respectively) (Note 21).
6. Employee benefits expenses Details of employee benefits expenses for the six -month periods ended 30 June 2026 and 2025 are
as follows:
Thousands of Euros Period ended 30 June
2026 2025
Wages and salaries 380,625 385,614 Social Security expenses 78,987 78,967 Other employee benefits expenses 16,808 16,740 Indemnities 17,667 19,731 Total employee benefits expenses 494,087 501,052 The accrual of the long -term incentive associated with the 2021 -2023 Plan, 2024 -2025 Plan and the 2026 -2027 Plan for the Executive President, Managing Director and the Management of the Group is included under the heading on Wages and salaries (Note 16). At 30 June 2026 , the accumulated net expense amounts to EUR 1,802 thousand (EUR 1,514 thousand expense in June 2025 ) (Note 16).
The heading on Indemnities includes the provision for occupational risks (Note 16).
7. Other income and expenses Details of Other income and expenses in the consolidated income statement for the six -month periods ended 30 June 2026 and 2025 are as follows:
Thousands of Euros Period ended 30 June
2026 2025
Profit/(loss) for impairment of receivables (1,551) (1,137) Other expenses (789) (580) Total other expenses (2,340) (1,717) The line for impairment losses and reversals on trade receivables includes, at 30 June 2026, credit risks from specific clients in Germany, Spain and Colombia.
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Thousands of Euros Period ended 30 June
2026 2025
Other income 6,073 10,968 Total other income 6,073 10,968 In June 2026 , the “other income” item primarily reflects:
- positive impact in the amount of EUR 3,243 thousand from the sale of 100% of the shares in the companies V.N. Global BPO S.A. (Argentina) and VN Global Paraguay S.A. to Prosegur Compañía de Seguridad, S.A. and another group company (Note 3);
- the impact of the reversal of debt for business combinations carried out in previous years in the LATAM segment. Deferred contingent consideration was recorded based on estimated business plans, which included estimated operating results higher than those finally obtained.
As a consequence, the Cash Group has recorded income in the amount of EUR 1,205 thousand associated with business combinations in LATAM;
In June 2025, the “other income” item primarily reflects the net impact recorded from:
– positive impact from the payment of Transpev’s debt to the Brazilian Federal Tax Authority, amounting to EUR 16,087 thousand, due to the difference between the reversal of the provision recorded in recent years for EUR 35,717 thousand and the cash payment to the Brazilian Federal Tax Authority of EUR 19,629 thousand;
– negative impact of EUR 7,767 thousand, arising from the agreement signed between the Cash Group and Grupo Prosegur Segurança in Brazil, whereby the Cash Group must indemnify Grupo Prosegur Segurança in Brazil for the partial payment of the debt that the latter made to the Brazilian Federal Tax Authority for proceedings related to Transpev (Notes 4 and 21), which was a debt attributable to the Cash Group.
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8. Net finance costs Details of net finance costs for the six -month periods ended 30 June 2026 and 2025 are as follows:
Thousands of Euros Period ended 30 June
2026 2025
Borrowing costs (15,763) (13,253) Interest received 3,137 2,217 Net (loss)/profit on foreign currency transactions 5,414 4,423 Net finance (expense)/income from the net monetary position (528) 413 Finance expenses for the update of lease liabilities (Note 10) (3,119) (2,921) Gains/(losses) due to variation in fair value of financial instruments – 98 Other expenses and net finance income (6,505) (5,467) Total net finance costs (17,364) (14,490) The main change in the financial profit/loss for the first six months of 2026 compared to the first six months of 2025 is due principally to the net effect of:
– Increase in interest expenses amounting to EUR 2,510 thousand; this heading includes the coupon on the bond issued by the Cash Group in 2017 amounting to EUR 600,000 thousand, and the one issued in October 2025, as well as the interest on syndicated operations and other financing. The change is mainly due to an increase in financing costs compared to the same period in 2025;
– Increase in interest received amounting to EUR 920 thousand, reflecting the performance of cash surplus investments;
– Positive impact of EUR 991 thousand from net gains on foreign currency transactions, mainly driven by Spain and Argentina;
– A slight increase in finance expenses for the update of lease liabilities;
– Negative impact on the June 2026 consolidated income statement due to the net finance expense arising from the net monetary position. At June 2025, the net monetary position represented a finance income of EUR 413 thousand. That item reflects the exposure to the change in the purchasing power of the Argentine currency;
– Increase in finance expenses under the heading of Other net finance income and expenses, amounting to EUR 1,038 thousand, mainly due to an increase in expenses for the monetary adjustment of court deposits associated with the labour actions open in Brazil and Argentina (Note 16).
9. Segment reporting The Board of Directors is ultimately responsible for making decisions on the Cash Group’s operations and, together with the Audit Committee, for reviewing the Cash Group’s internal financial information to assess performance and to allocate resources.
The Board of Directors analyses the business from two perspectives: geographical and by activity.
From a geographical perspective, three segments are identified: Europe, LatAm and Rest of the world (AOA), which in turn include the lines of activity identified as Transport, Cash Management and Transformation Products.
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The Board of Directors uses adjusted EBITA to assess segment performance, since this indicator is considered to best reflect the results of the Cash Group’s different activities.
Details of revenue by segments for the six -month periods ended 30 June 2026 and 2025 are as
follows:
Europe AOA LatAm Total Thousands of Euros at 30 June 2026 at 30 June 2025 at 30 June 2026 at 30 June 2025 at 30 June 2026 at 30 June 2025 at 30 June 2026 at 30 June
2025
Transport 136,876 137,591 64,097 65,462 273,764 282,839 474,737 485,892 % of total 41% 43% 70% 71% 47% 48% 47% 48% Cash management 81,999 80,707 4,244 4,390 81,901 92,153 168,144 177,250 % of total 25% 25% 5% 5% 14% 16% 17% 18% Transformation Products 111,382 104,794 22,975 22,761 223,516 214,398 357,873 341,953 % of total 34% 32% 25% 25% 39% 36% 36% 34% Total Sales 330,257 323,092 91,316 92,613 579,181 589,390 1,000,754 1,005,095 Income from Transport, Cash Management and Transformation Products services are recognised at the time they are provided.
Segment income and expenses are composed by those deriving from the operating activities directly attributable to them and that the Board of Directors considers reasonable and which are distributed by using an analytical distribution criterion.
Details of profit/loss after tax from operations broken down by segment are as follows:
Europe AOA LatAm Total Thousands of Euros at 30 June 2026 at 30 June
2025
at 30 June 2026 at 30 June
2025
at 30 June 2026 at 30 June
2025
at 30 June 2026 at 30 June
2025
Sales to external clients 330,257 323,093 91,316 92,613 579,181 589,389 1,000,754 1,005,095 Other net expenses (301,550) (290,694) (78,500) (82,473) (453,047) (463,416) (833,097) (836,583)
Equity losses
recorded applying the equity method 24 (134)
4,119 2,866
881 (720)
5,024 2,012
EBITDA 28,731 32,265 16,935 13,006 127,015 125,253 172,681 170,524
PPE depreciation (20,795) (20,688) (5,264) (4,728) (35,233) (32,671) (61,292) (58,087) Adjusted EBITA 7,936 11,577 11,671 8,278 91,782 92,582 111,389 112,437 Amortisation of intangible assets (2,701) (2,926) (1,198) (1,345) (6,677) (6,992) (10,576) (11,263)
EBIT 5,235 8,651 10,473 6,933 85,105 85,590 100,813 101,174
Net Finance Profit/loss (16,527) (12,144) (1,236) (2,262) 399 (84) (17,364) (14,490) Corporate Income Tax (6,367) (9,146) (3,354) (1,310) (25,266) (28,665) (34,987) (39,121) Profit/loss after tax of ongoing operations (17,659) (12,639) 5,883 3,361 60,238 56,841 48,462 47,563
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Details of assets allocated to segments and a reconciliation with total assets at 30 June 2026 and 31 December 2025 are as follows:
Europe AOA LatAm Not allocated to
segments Total
Thousands of Euros 30 June
2026 31
December
2025 30 June
2026 31
December
2025 30 June
2026 31
December
2025 30 June
2026 31
December
2025 30 June
2026 31
December
2025
Assets allocated to segments 449,856 433,219 200,900 188,070 1,028,386 976,952 97,067 107,516 1,776,209 1,705,757 Other non -allocated assets – – – – – – 511,102 1,040,304 511,102 1,040,304 Other non -current financial assets – – – – – – 21,720 20,563 21,720 20,563 Cash and cash equivalents – – – – – – 489,382 1,019,741 489,382 1,019,741 449,856 433,219 200,900 188,070 1,028,386 976,952 608,169 1,147,820 2,287,311 2,746,061 Details of liabilities allocated to segments and a reconciliation with total liabilities at 30 June 2026 and 31 December 2025 are as follows:
Europe AOA LatAm Not allocated to
segments Total
Thousands of Euros 30 June
2026 31
December
2025 30 June
2026 31
December
2025 30 June
2026 31
December
2025 30 June
2026 31
December
2025 30 June
2026 31
December
2025
Liabilities allocated to segments 316,209 230,518 78,954 80,751 352,738 348,486 114,467 135,546 862,368 795,301 Other unallocated liabilities – – – – – – 1,170,361 1,730,656 1,170,361 1,730,656 Bank borrowings – – – – – – 1,170,361 1,730,656 1,170,361 1,730,656 316,209 230,518 78,954 80,751 352,738 348,486 1,284,828 1,866,202 2,032,729 2,525,957 Total assets allocated to segments mainly exclude other current and non -current financial assets and cash and cash equivalents, as these are managed together by the Cash Group and include rights -of-
use that have emerged as a result of the application of IFRS 16.
The total liabilities assigned to segments exclude bank borrowings as the Cash Group jointly handles the financing, and they include finance lease liabilities and those arising from the application of IFRS 16.
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10. Property, plant and equipment, goodwill and other intangible assets 10.1. Property, plant and equipment Details of changes in property, plant and equipment for the six -month periods ended 30 June 2026 and 2025 are as follows:
Thousands of Euros Period ended 30 June
2026 2025
Cost
Opening balances 932,590 1,013,969 Additions 41,461 20,484 Write offs due to disposals or by other means (15,761) (14,756) Exit from the scope (5,403) – Transfer to right -of-use (Note 10.3) (2,642) – Translation differences 70,630 (32,688) Closing balances 1,020,875 987,009
Accumulated depreciation
Opening balances (559,018) (612,102) Write offs due to disposals or by other means 6,030 13,792 Provisions charged against the income statement (34,850) (33,115) Exit from the scope 4,391 – Translation differences (45,693) 15,429 Transfer to right -of-use (Note 10.3) 141 – Closing balances (628,999) (615,996)
Opening balances 373,572 401,867 Closing balances 391,876 371,013 During the first half of 2026 , investments in property, plant and equipment made by the Cash Group came to EUR 41,461 thousand (at 30 June 2025 : EUR 20,484 thousand). These investments mainly
correspond to:
– Cash automation equipment installed at clients amounting to EUR 23,072 thousand (EUR 12,841 thousand in June 2025 ), most notably in Brazil;
– Acquisitions and upgrades of bases, other facilities, and armoured vehicles in Argentina, Brazil, Chile, Colombia, Spain, Paraguay, Peru, and Uruguay, totalling EUR 11,762 thousand (compared to EUR 3,936 thousand in June 2025 );
– The refurbishment of spaces and purchase of equipment for the foreign exchange business, amounting to EUR 919 thousand (EUR 1,249 thousand in June 2025 ).
No assets are subject to restrictions on title or pledged as security for particular transactions at 30 June 2026 .
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10.2. Goodwill
Details of changes in goodwill for the six -month period ended 30 June 2026 are as follows:
Thousands of Euros
2026
Net carrying amount at 31 December 2025 467,840 Exits from the scope (12,749) Translation differences 10,849 Net carrying amount at 30 June 2026 465,940 The Cash Group tests goodwill for impairment at the end of each reporting period, or earlier if there are indications of impairment, in accordance with the accounting policy described in Note 32.10 of the Consolidated Annual Accounts at December 2025 .
At 30 June 2026 , there were no elements indicating impairment with respect to recognised goodwill.
Details of changes in goodwill for the six -month period ended 30 June 2025 were as follows:
Thousands of Euros
2025
Net carrying amount at 31 December 2024 488,373
Additions 129
Translation differences (19,553) Net carrying amount at 30 June 2025 468,949 The additions corresponded to the goodwill generated from the acquisition of Prosegur Services Germany GmbH in Germany (Note 3).
Thousands of Euros
2025
Prosegur Services Germany GmbH 129 129
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10.3. Right -of-use Details of changes in rights -of-use assets for the six -month periods ended 30 June 2026 and 2025 are as follows:
Thousands of Euros Period ended 30 June
2026 2025
Cost
Opening balances 274,183 314,027 Additions 18,519 22,542 Exits from the scope (793) – Transfer of property, plant and equipment (Note 10.1) 2,642 – Write offs and cancellations (2,150) (30,810) Translation differences 9,525 (18,405) Closing balances 301,926 287,354
Accumulated amortisation
Opening balances (186,534) (191,286) Transfer to non -current assets held for sale (141) – Provisions charged against the income statement (19,515) (19,219) Translation differences (7,328) 10,970 Write offs due to disposals or by other means – 12,634 Exits from the scope 588 – Closing balances (212,930) (186,901)
Opening balances 87,649 122,741 Closing balances 88,996 100,453 Details of changes in lease liabilities for the six -month periods ended 30 June 2026 and 2025 are as
follows:
Thousands of Euros Period ended 30 June
2026 2025
Cost
Balance at 31 December (98,974) (125,097) Additions (18,529) (22,542) Write offs and cancellations 25,811 35,397 Finance expenses (Note 8) (3,119) (2,921) Translation differences (2,260) 3,631 Exits from the scope 242 – Closing balances (96,829) (111,532)
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The average discount rates for the main countries affected by this standard, used for calculating the current value of the operating lease liabilities, were as follows:
Average rate
1 to 3 years 3 to 5 years 5 to 10 years Germany 2.54 % 2.78 % 3.11 % Brazil 14.63 % 13.97 % 14.24 % Peru 4.40 % 4.72 % 5.07 % Argentina 31.14 % 52.80 % 78.51 % Colombia 10.27 % 11.12 % 12.33 % Chile 4.97 % 5.36 % 5.96 % Spain 3.27 % 3.41 % 3.84 % The rates have been calculated according to the life of the right of use.
The Cash Group does not recognise in the balance sheet the lease liabilities and the right -of-use asset corresponding to short -term lease contracts (leases for one year or less) and lease contracts for low value assets (USD 5 thousand or less). Those exceptions have been recorded entirely under the heading on Operating leases (Note 5).
10.4. Other intangible assets Details of changes in intangible assets for the six -month periods ended 30 June 2026 and 2025 are
as follows:
Thousands of Euros
2026 2025
Cost
Opening balances 493,020 509,610 Additions 8,192 13,230 Write offs (6,956) (1,359) Exit from the scope (11,566) – Translation differences 24,646 (24,724) Closing balances 507,336 496,757
Accumulated amortisation
Opening balances (258,071) (239,343) Write offs 4,774 334 Provisions charged against the income statement (17,503) (17,016) Exit from the scope 3,076 – Translation differences (18,348) 6,386 Closing balances (286,072) (249,639)
Net assets
Opening balances 234,949 270,267 Closing balances 221,264 247,118 At June 2026 , the additions mainly correspond to computer software amounting to EUR 8,192 thousand.
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11. Investments accounted for using the equity method Details of the main figures of investments accounted for under the equity method at the end of 2025 are included in Note 15 and Appendix III of the Consolidated Annual Accounts for the year ended 31 December 2025 .
The main Joint Arrangements of the Cash Group at 30 June 2026 include the following companies:
– Companies operating in Spain, and other subsidiaries: LATAM ATM Solutions S.L, LATAM ATM Solutions Perú, S.A.C., and Hispronet LATAM ATM Solutions RD, S.A., 99.8% and 99.0% owned, respectively, by LATAM ATM Solutions S.L.
– Companies operating in Brazil: Harapay Holding S.A. and Harapay Instituição de Pagamentos S.A.; the latter is 100% owned by the former.
These Joint Arrangements are structured as separate vehicles and the Cash Group has a share of their net assets. Consequently, the Cash Group has classified these shareholdings as Joint Ventures.
They are equity -accounted in accordance with IFRS 11.
In addition, the associates at 30 June 2026 are as follows:
– Companies operating in Australia:
– Linfox Armaguard Pty Ltd 35% owned;
– Prosegur Australia Pty Limited, Prosegur Hub Pty Limited, Armaguard Technology Solutions Pty Ltd, Point 2 Point Secure Pty Ltd, wholly owned by Linfox Armaguard
Pty Ltd;
– Integrated Technology Services Pty Ltd 42.9% owned by Linfox Armaguard Pty Ltd
and,
– Armaguard Robotics Pty Ltd wholly owned by Integrated Technology Services Pty Ltd.
The Cash Group is partially represented on the Board of Directors of these companies and is involved in the operational management and financial planning and execution decisions, having significant influence but not control over them. Therefore, the Cash Group has classified these investments as associates. The equity method is applied pursuant to IAS 28 Investments in Associates and Joint Ventures.
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Details of changes in the investments in joint ventures accounted for under the equity method for the six-month periods ended 30 June 2026 and 2025 were as follows:
Thousands of Euros 30 June 2026 30 June 2025 Balance at 1 January 22,704 18,935 Additions 1,054 196 Participation in profits/(losses) 5,024 2,012 Write offs/transfers (828) 609 Translation differences 518 (1,040) Balance at 30 June 28,472 20,712
Associates in Australia Regarding the investments in the Australian associates, the Cash Group has reviewed the recoverable amount at 30 June 2026, concluding that there have been no substantial changes compared with December 2025, and therefore, by comparison with its carrying amount, it has concluded that there are no additional indications of impairment, nor do the circumstances exist to reverse the impairments recorded.
In Note 16 of the Consolidated Annual Accounts as of 31 December 2025, an estimate was made of the value of investments in Australian associates as of that date.
The assumptions considered by the Cash Group’s Management for each of the businesses developed were updated at 30 June 2026, as follows:
• Cash -in-transit and cash management business.
In 2024, working groups were set up with the country’s main financial entities to analyse potential changes to the current operational business model in order to lay the foundations for future operations. The main lines of analysis were to identify initiatives that financial entities can implement in their operations to contribute to additional cost reductions beyond those already foreseen in the synergies associated with the merger, to review the improvements and synergies identified at the time of the 2023 merger between Armaguard Group and the Cash Group, and to establish the basis for a new pricing model to ensure the continuity of operations.
At 30 June 2026, the Australian Competition and Consumer Commission (ACCC) is still in the process of reviewing the report prepared by the independent advisor hired to assess the pricing model, as a preliminary step prior to its approval. The Australian Competition and Consumer Commission (ACCC) has requested an update to the report to determine what the impact of the pricing model will be on each of the clients, which is being prepared by the independent advisor and will likely be delivered in August 2026.
Additionally, for certain customers, the terms of their current contracts —agreed by the ACCC as part of the approval of the transaction between Cash Group and Armaguard in September 2023 —will expire during the second half of 2026.
It is estimated that the final approval of the pricing model by the Australian Competition and Consumer Commission (ACCC) will take place in the first months of 2027.
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To estimate the value of the cash -in-transit and cash management business, the Cash Group’s Management considered two scenarios in 2025, to which, given the described existing uncertainty, it assigned a 66% probability of occurrence for scenario 1 and a 33% probability for scenario 2, used to weight the contribution of each scenario to the estimated fair value associated with this business. The description of the two scenarios and their update at 30 June 2026, is as follows:
– Scenario 1: an agreement is reached to establish a new pricing mechanism that guarantees an estimated minimum profitability from June 2026; because at 30 June 2026 the Australian Competition and Consumer Commission (ACCC) is still reviewing the report on the new independent pricing mechanism, this scenario is updated and it is estimated that a preliminary agreement is reached in the second half of 2026. At 30 June 2026, this scenario has been given a 66% probability of occurrence because:
◦ Progress continues to be made towards reaching an agreement to establish an independent pricing mechanism, as the Australian Competition and Consumer Commission (ACCC) is still in the process of reviewing the report prepared by the independent advisor and has requested additional information in this regard;
◦ No client participating in the definition of the model has withdrawn from the negotiations, and there is good will to reach an agreement;
◦ Additional cost reductions and improvements and synergies required by financial entities are at a very advanced stage.
– Scenario 2: no agreement is reached to establish a new independent pricing mechanism, casting doubt on the sustainable continuity of the business (assigned a 33% probability).
During the first half of 2026, the financial entities have made monthly monetary contributions until June 2026 that have helped cushion the impacts caused by the negative factors of the sector and have guaranteed the sustainability of the operational cash business model. As mentioned, it is expected that during the second half of 2026 the ACCC will approve the pricing model on an interim basis, from which date the model will begin to be applied with retroactive effect from 1 July 2026.
Armaguard has cash and cash equivalents amounting to AUD 62,124 thousand at 30 June 2026, of which AUD 20,000 thousand have been drawn down from the credit facility with an Australian financial entity of up to AUD 45,000 thousand (leaving AUD 25,000 thousand pending drawdown at 30 June 2026), which will help to mitigate liquidity risk and, therefore, safeguard business continuity, until the pricing model is approved on an interim basis.
As a result, the Cash Group maintains the valuation performed at 31 December 2025 for the cash -in-
transit and cash management business. However, due to the complexity and uncertainty of the various factors influencing this valuation, the Cash Group will continue to monitor closely to enable a more accurate estimation of impacts.
• Automated Teller Machine (ATM) business At 30 June 2026, the estimates of cash flows and of the securing of new contracts made in December 2025 are being met, so their contribution to the estimated recoverable value of the investment accounted for by the equity method has not changed substantially compared to December 2025.
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• ATM Maintenance, Monitoring, and Supply Business (FTS) At 30 June 2026, the estimates of cash flows and of the securing of new contracts made in December 2025 are being met, so their contribution to the estimated recoverable value of the investment accounted for by the equity method has not changed substantially compared to December 2025.
Additions, write offs and other changes Additions in the six -month period ended 30 June 2026 mainly relate to a capitalisation made to the company Latam ATM Solutions S.L.
Additions in the six -month period ended 30 June 2025 mainly relate to a capitalisation made to the company LATAM ATM Solutions S.L.
At 30 June 2026 , the Cash Group has no significant contingent liability commitments in any of the joint ventures accounted for under the equity method.
12. Non -current financial assets and other current financial assets Non-current financial assets at 30 June 2026 mainly include:
– Granting of loans to various external investors related to the subsidiaries of the Cash Group in Indonesia, the Philippines and El Salvador, amounting to EUR 8,933 thousand (31 December 2025 : EUR 9,126 thousand).
– Investment in MINOS Global for the sum of EUR 3,268 thousand, a brokerage and custody company for crypto assets and digital assets, in which the Cash Group has a 30.92% share (31 December 2025 : EUR 3,270 thousand). Additionally, a loan granted to MINOS Global during the first half of 2026 for the amount of EUR 1,250 thousand is included.
– Deposits and bonds held by the Cash Group for the amount of EUR 5,280 thousand of which EUR 1,964 thousand correspond to deposits paid in lease contracts of branches where the Cash Group provides exchange and currency services (31 December 2025 : EUR 5,685 thousand and EUR 1,839 thousand, respectively).
– Other non -current financial provisions for EUR 2,989 thousand (EUR 2,053 thousand at 31 December 2025 ).
At 30 June 2026 , other financial assets mainly include:
– Collection rights with a business combination seller from previous years in Brazil in the amount of EUR 18,856 thousand (31 December 2025 : EUR 16,694 thousand).
– Short -term and long -term deposits and guarantees and various items, amounting to EUR 2,131 thousand, mainly in Brazil (EUR 2,590 thousand at 31 December 2025 ).
– Other current financial provisions for EUR 213 thousand (EUR 549 thousand at 31 December 2025 ).
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- Additionally, at 30 June 2026 , under the heading of Current financial assets in the consolidated statement of financial position, several loans granted amounting to EUR 19,905 thousand (equivalent to BRL 117,448 thousand) are included (EUR 16,103 thousand in 2025 , equivalent to BRL 106,646 thousand at the exchange rate of 31 December 2025 ), from the Cash Group to the Brazilian company Harapay Holding S.A., which is consolidated using the equity method. The loans were signed between 2022 and 2026, and impaired loans at 30 June 2026 amount to EUR 19,656 thousand.
13. Cash and cash equivalents The detail of this heading at 30 June 2026 and 31 December 2025 is as follows:
Thousands of Euros 30 June 2026 31 December 2025 Cash, banks and other cash equivalents 432,316 468,938 Current bank deposits 57,066 550,803
489,382 1,019,741
The effective interest rate on current bank deposits was 5. 2% (at 31 December 2025 : 4.81%) and the average term of the deposits held during the first half of 2026 was 15 days (at 31 December 2025 : 29 days).
As of 30 June 2026 , the Cash and cash equivalents heading includes EUR 170,898 thousand, representing advance funds received from third parties that the Cash Group temporarily holds for its collection and payment management business and invoice payment services in Uruguay and Ecuador (EUR 206,529 thousand at 31 December 2025 ). These advance funds from third parties carry an obligation to repay them to other third parties, resulting in a corresponding financial liability of EUR 170,898 thousand (refer to Note 17 on financial liabilities).
Likewise, the variation in short -term deposits with credit institutions as of June 2026 compared with December 2025 is due to the payment made by Grupo Cash in February 2026 upon the maturity of the senior unsecured bonds (Note 17) .
14. Inventories
Details of inventories at 30 June 2026 and 31 December 2025 are as follows:
Thousands of Euros 30 June 2026 31 December 2025 Fuel and others 23,714 21,191 Operating material 3,398 2,783 Uniforms 374 368 Others 3,435 3,548 Impairment of inventories (1,860) (2,223)
29,061 25,667
Under the Operating material heading, the stock of ATMs and cash machines is primarily included.
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No inventories have been pledged as securities for liabilities.
15. Equity
15.1. Share capital and Share premium At 30 June 2026 the share capital of Prosegur Cash, S.A. was EUR 29,465 thousand ( 2025 : EUR 29,698 thousand) and is represented by 1,473,235,487 shares ( 2025 : 1,484,913,487 shares) with a nominal value of EUR 0.02 each, fully subscribed and paid. These shares are listed on the Madrid, Barcelona, Bilbao and Valencia stock exchanges and traded via the Spanish Stock -Exchange Interconnection System (SIBE).
On 10 February 2026, a deed was registered in the Madrid Companies Registry relating to the reduction of capital through the redemption of 11,678,000 own shares of the Company, each with a nominal value of EUR 0.02, thus reducing the share capital by EUR 233,560, from EUR 29,698,260.74 to EUR 29,464,709.74. The resulting share capital is represented by 1,473,235,487 ordinary shares of a single class and series, each with a nominal value of EUR 0.02.
The capital reduction was carried out without refund of contributions and was made against free reserves by provisioning an unavailable voluntary reserve for the same amount as the capital reduction (that is EUR 233,560), in accordance with article 355 (c) of the Spanish Companies Act.
At 30 June 2026 , the amount of the share premium totals EUR 33,134 thousand.
15.2. Own shares Details of changes in own shares during the first half of 2026 are as follows:
Number of
shares Thousands of
Euros
Balance at 31 December 2025 22,366,962 16,648 Capital reduction (11,678,000) (8,000) Other awards (694,635) (571) Balance at 30 June 2026 9,994,327 8,077 Buyback programme of 18 December 2024 On 18 December 2024 the Board of Directors decided to implement an own share buyback programme (the “Programme”) in the terms of Regulation (EU) no. 596/2014 on market abuse and the Commission Delegated Regulation 2016/1052, making use of the authorisation granted by the Shareholders General Meeting held on 2 June 2021 (item 11 of the Agenda) for the purchase of own shares, for the purpose of redeeming them pursuant to a share capital reduction resolution which will be submitted for the approval of the next Shareholders General Meeting.
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The Programme applied to a maximum of 14,849,135 shares, representing approximately 1% of the Company’s current share capital (1,484,913,487 shares).
The Programme had the following features:
– Maximum amount allocated to the Programme: EUR 8,000 thousand.
– Maximum number of shares that can be acquired: up to 14,849,135 shares representing approximately 1% of the Company’s share capital on the date of the agreement.
– Maximum price per share: shares were purchased in compliance with the price and volume limits established in the Regulations. In particular, the Company cannot buy shares at a price higher than the highest of the following: (i) the price of the last independent trade; or (ii) the highest current independent bid on the trading venues where the purchase is carried out.
– Maximum volume per trading session: in so far as volume is concerned, the Company would not purchase more than 25% of the average daily volume of the shares in any one day on the trading venues on which the purchase was carried out.
– Duration: the Programme had a maximum duration of one year. Notwithstanding the above, the Company reserves the right to conclude the Programme if, prior to the end of said maximum term of one year, it had acquired the maximum number of shares authorised by the Board of Directors, if it had reached the maximum monetary amount of the Programme or if any other circumstances arise that call for it.
The main manager of the Programme was an investment company or a credit institution that took its decisions in relation to the timing of the purchase of the Company’s shares irrespective of the Company.
Delivery of own shares for long term incentives As a result of the first payment of the 2024 -2025 Long -Term Incentive Plan, a total of 390,422 shares were delivered to two beneficiaries of the plan in April 2026 (212,400 shares in 2025).
The rest of the shares delivered correspond to other remuneration not associated with long term Incentive Plans.
15.3. Cumulative translation differences The change in the balance of the cumulative translation difference at 30 June 2026 as compared to 31 December 2025 was EUR 49,462 thousand (lower negative translation differences) due to the net
impacts of:
– Positive impact from the evolution of the different currencies, mainly arising from the appreciation of the Argentine peso and the Brazilian real;
– A slight positive impact from Argentina due to hyperinflation effects (IAS 29).
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15.4. Earnings per share
• Basic
Basic earnings per share are calculated by dividing the profit of the ongoing operations attributable to the owners of the parent company by the weighted average number of ordinary shares outstanding during the year, excluding own shares acquired by the Company.
30 June 2026 30 June 2025
Ongoing
operations Total Ongoing
operations Total
Year profit attributable to the owners of the parent company 46,332 46,332 45,940 45,940 Weighted average ordinary shares in circulation 1,462,865,059 1,462,865,059 1,468,747,566 1,468,747,566 Basic earnings per share 0.0317 0.0317 0.0313 0.0313
• Diluted
Diluted earnings per share are calculated by adjusting the profit for the year attributable to the owners of the parent company and the weighted average number of ordinary shares outstanding by all the inherent diluting effects of potential ordinary shares.
The parent company does not have different classes of partially diluted ordinary shares.
15.5. Non -controlling interests At 30 June 2026, the non -controlling interests of the Cash Group are:
– In India, 51.00% of the companies SIS Cash Services Private Limited, SIS Prosegur Holdings Private Limited and SIS Prosegur Cash Logistics Private Limited;
– In Spain, 4.90% of Prosegur Alpha3 Cash Labs, 10.25% of Dinero Gelt S.L., and 4.90% of
Wohcash;
– In Brazil, 0.00% of Prosegur Brasil S.A. Transportadora de Valores;
– In Colombia, 7.04% of Dinero Gelt, S.A.S.;
– In Indonesia, 46.66% of PT Prosegur Cash Indonesia.
15.6. Dividends
On 29 April 2026 the Shareholders General Meeting of Prosegur Cash S.A. approved the distribution of a dividend charged against voluntary reserves at the rate of EUR 0.0424 gross per share in circulation with the right to receive it on the payment date, which means a total dividend amount of EUR 62,465,184.65, to be paid in a single instalment in December 2026.
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16. Provisions
Details of the balance and changes under this heading for the six -month period ended 30 June 2026 are as follows:
Thousands of Euros Occupational
risks Legal
risks Employee
benefits Tax risks Other
risks Total
Balance at 1 January 2026 22,508 16,793 21,654 22,194 7,255 90,404 Provisions charged against the income statement 4,295 1,131 – 897 3,285 9,608 Reversals credited to the income statement (625) (437) – (16) (988) (2,066) Applications (4,980) (1,134) – (298) (6,058) (12,470) Financial effect of discounting 1,649 240 – 166 44 2,099 Provisions and reversals charged to Equity – – – – 1,331 1,331 Translation differences 1,985 406 1,063 1,205 51 4,710 Balance at 30 June 2026 24,832 16,999 22,717 24,148 4,920 93,616
Non-Current 2026 24,832 16,999 22,717 24,148 2,421 91,117 Current 2026 – – – – 2,499 2,499 a) Occupational risks The provisions for occupational risks, which amount to EUR 24,832 thousand at 30 June 2026 (at 31 December 2025 : EUR 22,508 thousand), are calculated individually based on the estimated probability of success or failure. Said probability is determined by the various attorneys that work with the Cash Group. In addition, an internal review is carried out of the probabilities assigned to each of the cases, based on past experience, in order to arrive at the definitive provision to be recorded.
The provision for occupational risks is composed mainly of labour legal cases in Brazil and Argentina.
In the remaining countries, they correspond to provisions for individually insignificant amounts.
In the case of Brazil, claims made by ex -employees and employees of the Cash Group are included.
The characteristics of labour legislation in that country result in such processes becoming drawn out, leading to a provision in 2026 of EUR 20,013 thousand (31 December 2025 : EUR 18,738 thousand).
In the case of Argentina, claims made by former employees and employees of the Cash Group amounting to EUR 3,147 thousand (EUR 3,080 thousand at 31 December 2025 ) are also included.
Provisions charged to and reversals credited to the income statement are included under other expenses in cost of sales in Note 5; the monetary adjustments associated with said provision are included under other finance expenses (Note 8).
b) Legal risks The provisions for legal risks, which amount to EUR 16,999 thousand (31 December 2025 : EUR 16,793 thousand), correspond mainly to civil claims which are analysed on a case -by-case basis.
The settlement of these provisions is highly probable, but both the value of the final settlement as well as the moment are uncertain and depend upon the outcome of the processes under way. Except in the case of Chile, there are no individually significant legal risks.
The provision for legal risks is composed mainly of legal cases in Brazil and Chile. In the remaining countries, they correspond to provisions for individually insignificant amounts.
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In the case of Brazil, the provisioned amount corresponds to irrelevant individual amounts, totalling EUR 4,591 thousand (31 December 2025 : EUR 3,976 thousand).
Regarding Chile, in 2018 the Chilean National Economic Prosecutor (FNE) began an investigation into potential anti -competitive practices due to agreed actions and the exchange of sensitive commercial information between competitors between 2017 and 2018. On 7 October 2021, the FNE filed a request with the Chilean Court for Competition Defence (TDLC) for sanctions, including a fine of approximately EUR 22,000 thousand on a subsidiary of the Cash Group in Chile (as maximum penalty). Prosegur Cash filed its defence before the TDLC on 22 November 2022 and at the date of preparation of these condensed interim consolidated financial statements, the legal proceedings are still in progress, having been ordered on 18 March 2024, with the case to be accepted as evidence, and the proceedings are pending the development of this phase and the subsequent ruling by the TDLC.
As a result of the formal requirement received on 7 October 2021, the Cash Group reviewed the arguments that previously led it to classify the risk as possible and in 2021 it recorded the provisions that it deemed necessary to make for hedging the likely risk of sanctions being imposed, as identified by our specialist advisors. As of 30 June 2026 , the recorded amount associated with this risk in provisions for legal risks amounts to EUR 10,012 thousand ( 2025 : EUR 9,969 thousand).
c) Employee benefits As indicated in Note 5.2 of the Consolidated Annual Accounts for the year ended 31 December 2025 , the Cash Group maintains defined benefit schemes in Germany, Brazil, Honduras, Nicaragua, El Salvador, Ecuador, India and Mexico. The actuarial valuation, carried out by qualified actuaries, of the value of the benefits to which the Company is committed is updated annually, with the last update at the end of 2025 applicable to the current period.
The defined benefit schemes of Germany, India and Ecuador consist of Pension and retirement schemes, while the defined benefit scheme for Mexico consists of a seniority scheme.
The Cash Group has a defined benefit scheme comprising post -employment healthcare offered to employees in Brazil compliant with local legislation (Act 9656).
In addition, Honduras, Nicaragua and El Salvador have obligations, as determined by law, under defined benefit schemes arising from the termination of employment contracts by dismissal or following a mutual agreement.
d) Tax risks The provisions for tax risks amount to EUR 24,148 thousand (31 December 2025 : EUR 22,194 thousand) and mainly refer to tax risks in Brazil amounting to EUR 13,532 thousand (31 December 2025 : EUR 12,249 thousand). In this regard, during the 2026 financial year, provisions were made against results for EUR 323 thousand, reversals for EUR 16 thousand and applications for EUR 290 thousand. The provisions for the remaining countries refer to provisions for individually insignificant amounts.
The most representative risks arise as a result of the disparity in criteria between Prosegur Cash and the Tax Administration (Note 18).
Tax risks associated with Brazil primarily stem from claims related to direct and indirect taxes, resulting from tax inspections and differences in interpretation with the tax authorities.
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Prosegur Cash uses “the most probable outcome” as the basis for assessing uncertain potential tax risks. The significant tax risks are assessed based on opinions and studies provided by external advisors, taking into account the most recent resolutions and jurisprudence related to the subject in question. Internal analyses are also prepared based on similar cases that have occurred in the past in Prosegur Cash or in other entities.
At each close, a detailed analysis of each of the tax contingencies is made. This analysis refers to quantification, qualification and the level of provision associated with the risk. An annual letter with the respective analysis and assessment by an independent expert is used to determine these parameters in the most significant risks. On the basis of this, the level of provision is adjusted.
Provisions charged to and reversals credited to the income statement are included under other expenses and other income in Note 5 and 6.
e) Other risks The provisions for other risks, which amount to EUR 4,920 thousand at 30 June 2026 (31 December 2025 : EUR 7,255 thousand), include multiple items.
The settlement of these provisions is highly probable, but both the value of the final settlement as well as the moment are uncertain and depend upon the outcome of the processes under way.
The most significant ones correspond to accruals with personnel, and the remaining correspond to risk for individually insignificant amounts:
Accruals with personnel At 30 June 2026 , the amount recorded for this item amounted to EUR 2,581 thousand (31 December 2025 : EUR 5,268 thousand).
These provisions include the accrued incentive in the 2024 -2025 and 2026 -2027 Long -Term Incentive Plans for the Executive President, Managing Director and Senior Management of the Cash Group. The third payment of the 2021 -2023 Plan was paid in full in April 2026, so at 30 June 2026, there is no provision recorded for this plan.
During the year, an expense charged to results of 2,786 and a reversal charged to results of EUR 984 thousand were recorded (30 June 2025 : a provision of EUR 1,672 thousand and a reversal of EUR 158 thousand). Expenses are included under the heading on Wages and salaries in Note 6.
During the first half of 2026 , a total of EUR 5,875 thousand was paid to beneficiaries, and 1,327,852 shares were delivered, associated with the third payment of the 2021 -2023 Plan and the first payment of the 2024 -2025 Plan.
During the first half of 2025 , a total of EUR 1,375 thousand was paid to beneficiaries, and 212,400 shares were delivered, associated with the second payment of the 2021 -2023 Plan.
As detailed in Note 32.17 of the Consolidated Annual Accounts for the year ended 31 December 2025 , the 2021 -2023 Plan has been generally linked to the creation of value during the 2021 -2023 period and has envisaged the payment of cash incentives, calculated for certain beneficiaries based on the share price. In the vast majority of cases, the Plan measures target achievement from 1 January 2021 until 31 December 2023 and length of service from 1 January 2021 until 30 April 2026.
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The 2021 -2023 Plan is generally linked to the creation of value in the 2021 -2023 period and envisages the payment of cash incentives, calculated for certain beneficiaries based on the share price. In the vast majority of cases, the Plan measures target achievement from 1 January 2021 until 31 December 2023 and length of service from 1 January 2021 until 30 April 2026.
The 2024 -2025 Plan is generally linked to the creation of value in the 2024 -2025 period and envisages the payment of cash incentives, calculated for certain beneficiaries based on the share price. In the vast majority of cases, the Plan measures target achievement from 1 January 2024 until 31 December 2025 and length of service from 1 January 2024 until 31 May 2027.
The 2026 -2027 Plan is generally linked to the creation of value in the 2026 -2027 period and envisages the payment of cash incentives, calculated for certain beneficiaries based on the share price. In the vast majority of cases, the Plan measures target achievement from 1 January 2026 until 31 December 2027 and length of service from 1 January 2026 until 31 May 2029.
For the purpose of determining the value of each share to which the beneficiary is entitled, the average quotation price of Prosegur Cash shares in the Stock Exchange will be taken as reference during the last fifteen trading sessions of the month prior to the one in which the shares must be delivered.
Quantification of the total incentive depends on the degree of achievement of the targets established in line with the strategic plan.
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17. Financial liabilities Details of the balances of this heading under the consolidated statement of financial position at 30 June 2026 and 31 December 2025 are as follows:
Thousands of Euros 30 June 2026 31 December 2025 Non-current Current Non-current Current Debentures and other negotiable securities 299,088 177,924 299,088 759,301 Bank loans 386,092 137,846 363,581 96,664 Credit accounts – 5,336 – 5,493 Advance funds received from Third parties – 170,898 – 206,529 Other payables 47,024 23,959 43,032 30,664 732,204 515,963 705,701 1,098,651 The most significant items that make up the balance at 31 December 2025 are detailed in Note 22 of the Consolidated Annual Accounts for the year ended on that date.
The financial liabilities associated with the application of IFRS 16 have been recorded under the heading on Lease liabilities (Note 10) for a total amount of EUR 96,829 thousand (EUR 98,254 thousand at 31 December 2025 ).
During the six -month period ended 30 June 2026 there has been no default or non -compliance with any agreement regarding the loans and credit facilities granted to the Cash Group.
Syndicated credit facility (Spain) On 10 February 2017 Prosegur Cash arranged a five -year syndicated credit financing facility of EUR 300,000 thousand to provide the company with long -term liquidity. On 7 February 2019 this syndicated credit facility was renewed, and its maturity extended by another 5 years. In February 2020 the maturity was extended until February 2025. Additionally, in February 2021, the maturity was extended again until February 2026.
In February 2025, a new credit facility was negotiated, replacing the previous one for the same amount, with a maturity in February 2030 that includes the option to extend for two additional years, and in 2026 the maturity was extended for 1 additional year.
At 30 June 2026 , no balance has been drawn from this credit facility (no balance was drawn at 31 December 2025 ).
The interest rate of the drawdowns under the syndicated credit facility is equal to Euribor plus an adjustable spread based on the Company’s rating.
At 31 December 2025 , the Cash Group complied with the covenants related to this syndicated credit facility.
Debentures and other negotiable securities On 4 December 2017 Prosegur Cash, issued uncovered bonds for EUR 600,000 thousand maturing on 4 February 2026. The issue was made in the Euromarket as part of the Euro Medium Term Note Programme.
On 9 October 2025, Prosegur Cash issued uncovered bonds maturing in October 2030 for the amount of EUR 300,000 thousand. The bonds were admitted to trading on the Vienna Multilateral Trading Facility (MTF). They accrue an annual coupon of 3.38% payable at the end of each year.
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On 4 February 2026, Prosegur Cash cancelled and repaid uncovered bonds amounting to EUR 600,000 thousand of principal, which matured on that date. The bonds traded in the secondary market, in the Irish Stock Exchange, and accrued an annual coupon of 1.38%, payable at the end of each year.
Loan in Peru On 2 June 2021, the Cash Group, via its subsidiary Compañía de Seguridad Prosegur, S.A. in Peru, arranged a credit financing facility for PEN 300,000 thousand for a five -year term. In June 2026, the loan was cancelled, so there is no outstanding amount at that date. At 31 December 2025 , the drawn down capital amounted to PEN 30,000 thousand (at 31 December 2025 equivalent to EUR 7,596 thousand).
Loans and credit facilities in Spain On 30 May 2024, 25 June 2024 and 31 July 2024, three loans of EUR 30,000, EUR 75,000 and EUR 11,000 thousand, respectively, were arranged in Spain, with maturities ranging from four to five years. The loans bear interest at market rates.
In December 2024, two loans were formalised in Spain for EUR 20,000 thousand and EUR 15,000 thousand, with maturities of three and four years, respectively.
During 2025, 7 loans and a credit facility were formalised, and during 2026, 2 loans and a credit facility formalised during 2025 have been drawn down, which bear interest at market rates and have the following characteristics:
Formalised and drawn down in 2025:
– Loan of EUR 18,000 thousand with a three -year maturity;
– Loan of EUR 20,000 thousand with a four -year maturity;
– Loan of EUR 20,000 thousand with a four -year maturity;
– Loan of EUR 50,000 thousand with a three -year maturity;
– Loan of EUR 25,000 thousand with a three -year maturity;
– Loan of EUR 75,000 thousand with a four -year maturity;
– Loan of EUR 30,000 thousand with a four -year maturity;
– Credit facility with a limit of EUR 80,000 thousand with maturity in two years, and extendable for an additional year; as of 30 June 2026, there is no drawn balance on this credit facility.
Formalised in 2025 and drawn down in 2026:
– Loan of EUR 25,000 thousand with a three -year maturity;
– Loan of EUR 40,000 thousand with a three -year maturity;
– Credit facility with a limit of EUR 40,000 thousand with maturity in two years, and extendable for an additional year; as of 30 June 2026, there is no drawn balance on this credit facility.
Promissory note issuance programmes In June 2026 , the Cash Group formalised a promissory note programme called the Prosegur Cash 2026 AIAF Promissory Note Programme, for a maximum amount of up to EUR four hundred million at any given moment (hereinafter, the Programme).
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The promissory notes have a unit face value of Euro 100 thousand and have maturities of a minimum of three business days and a maximum of three hundred and sixty -four calendar days.
The formalisation of this Programme has been carried out as a complement to the traditional financing channels that the Cash Group has been using in recent years, in order to diversify its sources of financing.
The issuances made during the first six months of 2026 that have not yet matured have the following
characteristics:
– EUR 12,800 thousand issued on 26 September 2025, with settlement on 2 October 2025 and maturing on 30 September 2026, with an interest rate of 2.54%.
– EUR 9,000 thousand issued on 30 October 2025, with settlement on 4 November 2025 and maturing on 3 July 2026, with an interest rate of 2.45%.
– EUR 20,000 thousand issued on 13 November 2025, with settlement on 19 November 2025 and maturing on 18 November 2026, with an interest rate of 2.55%.
– EUR 20,000 thousand issued on 9 January 2026, with settlement on 14 January 2026 and maturing on 3 July 2026, with an interest rate of 2.35%.
– EUR 25,000 thousand issued on 16 January 2026, with settlement on 21 January 2026 and maturing on 18 December 2026, with an interest rate of 2.53%.
– EUR 25,000 thousand issued on 16 January 2026, with settlement on 21 January 2026 and maturing on 19 January 2027, with an interest rate of 2.57%.
– EUR 8,000 thousand issued on 27 February 2026, with settlement on 5 March 2026 and maturing on 30 September 2026, with an interest rate of 2.39%.
– EUR 8,100 thousand issued on 27 February 2026, with settlement on 5 March 2026 and maturing on 23 October 2026, with an interest rate of 2.41%.
– EUR 11,000 thousand issued on 20 March 2026, with settlement on 26 March 2026 and maturing on 18 February 2027, with an interest rate of 2.77%.
– EUR 12,600 thousand issued on 28 April 2026, with settlement on 4 May 2026 and maturing on 23 October 2026, with an interest rate of 2.69%.
– EUR 10,800 thousand issued on 28 April 2026, with settlement on 4 May 2026 and maturing on 18 February 2027, with an interest rate of 2.91%.
– EUR 4,400 thousand issued on 29 May 2026, with settlement on 4 June 2026 and maturing on 18 November 2026, with an interest rate of 2.77%.
– EUR 6,100 thousand issued on 29 May 2026, with settlement on 4 June 2026 and maturing on 16 March 2027, with an interest rate of 2.93%.
At 30 June 2026 , the carrying amount of the debt for this Programme amounts to EUR 170,494 thousand (the debt for this Programme amounted to EUR 149,600 thousand at December 2025 ).
.
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In June 2025, the Cash Group formalised a promissory note programme called the Prosegur Cash 2025 AIAF Promissory Note Programme, for a maximum amount of up to EUR four hundred million at any given moment.
The promissory notes had a unit face value of EUR 100 thousand and had maturities of a minimum of three business days and a maximum of three hundred and sixty -four calendar days.
The formalisation of this programme was carried out as a complement to the traditional financing channels that the Cash Group has been using in recent years, in order to diversify its sources of financing.
Payables for funds received in advance from third parties At 30 June 2026 , current financial liabilities include EUR 170,898 thousand on a transitional basis, corresponding to third -party funds received by the Cash Group in the collection management business and invoice payment services in Uruguay and Ecuador (EUR 206,529 thousand at 31 December 2025 ) (Note 13).
Other payables
The most significant items that make up the balance at 31 December 2025 are detailed in Note 22 of the Consolidated Annual Accounts for the year ended on that date.
At 30 June 2026 , other payables mainly relate to pending payments of business combinations.
18. Taxation
The tax expense for Corporate Income Tax for the six -month period ended 30 June 2026 is calculated based on the best estimate of the effective tax rate that the Group expects for the annual period and the recoverability of recognised deferred tax assets. The amounts calculated for the tax expense, in this interim accounting period, may need adjustments in subsequent periods provided that the estimates of the effective annual rate have changed by then.
Thousands of Euros Period ended 30 June
2026 2025
Current tax 46,221 36,750 Deferred tax (11,234) 2,371 Total 34,987 39,121
Thousands of Euros Period ended 30 June
2026 2025
Expense from income tax 34,987 39,121 Profit/loss before tax 83,449 86,684 Effective rate 41.93% 45.13%
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The effective tax rate was 41.93% in the first half of 2026 , compared to 45.13% in the same period the previous year, a decrease of 3.20 percentage points. This decrease is mainly due to the improvement in the results obtained in certain countries that recorded losses during the first half of 2025.
Prosegur Cash tax audits and litigation in Brazil
Transpev Procedure
In 2005, the Cash Group acquired assets in Brazil from the cash in transit company Transpev Transporte (hereinafter, Transpev or the acquired assets).
Since the acquisition, several proceedings were initiated with the Brazilian Federal Tax Authority related to debts of Transpev Transporte and another company owned by the same owner, Transpev Processamento. In particular, these procedures mainly concerned tax obligations related to Contribuções Previdenciarias (social security contributions) and the indirect taxation corresponding to PIS and COFINS.
In 2016, in preparation for the Cash Group’s stock market listing in March 2017, the Prosegur Group carried out a spin -off of its Cash and Security divisions in Brazil. This was followed by the sale of the Security unit by Cash Brazil to the Prosegur Group. The Brazilian Federal Tax Authority considered both entities jointly liable for the debts of Transpev Transporte and Transpev Processamento in the aforementioned proceedings.
In 2025, the Cash Group and the Prosegur Group reached an agreement with the Brazilian Federal Tax Authority and the other parties involved, whereby the final tax debt amount corresponding to the above -mentioned proceedings was set at BRL 203,864 thousand (EUR 34,553 thousand) (hereinafter the debt). The debt payment has been made in cash and through the offset of tax credits, in the amounts of BRL 120,515 thousand and BRL 83,348 thousand, respectively (EUR 20,426 thousand and EUR 14,127 thousand).
Additionally, part of the tax debt was paid directly to the Brazilian Federal Tax Authority by a third party under an extra -contractual agreement reached by the Cash Group and the Prosegur Group with said party involved.
Since the Cash Group had recorded a provision for these proceedings in previous years amounting to BRL 220,017 thousand (EUR 37,291 thousand), the net positive impact on the consolidated income statement at 31 December 2025 amounted to BRL 49,493 thousand (EUR 8,389 thousand),
comprising:
– A positive impact of BRL 99,502 thousand (EUR 16,865 thousand), due to the difference between the cash payment of the debt amounting to BRL 120,515 thousand and the provision recorded in previous years of BRL 220,017 thousand.
– A negative impact of BRL 50,009 thousand (EUR 8,476 thousand), due to the indemnity that the Cash Group must pay to Grupo Prosegur Segurança in Brazil for the partial payment of the debt that the latter entity made to the Brazilian Federal Tax Authority through the offsetting of tax credits amounting to EUR 12,754 thousand, which was debt attributable to the Cash Group.
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Transfer pricing audit - FY2016 to 2018 On 4 April 2019 the Brazilian Tax Authority notified Prosegur Brasil S.A. Transportadora de Valores e Segurança of a tax settlement decision regarding Corporate Income Tax, Social Security and withholdings at source in relation to the corporate cost incurred from 2014 to 2016. The amount under the notice was BRL 255,677 thousand (tax liability BRL 102,938 thousand, penalties BRL 81,049 thousand and interest BRL 71,690 thousand), equivalent to EUR 39,713 thousand. After a first phase of defence in administrative proceedings, the amount was reduced to BRL 200,456 thousand (tax liability BRL 76,607 thousand, penalties BRL 54,571 thousand and interest BRL 69,277 thousand), equivalent to EUR 31,136 thousand.
Having concluded the administrative procedure, the entity has lodged an appeal in the courts, which has been admitted for processing and is pending progress and resolution. After the start of the judicial phase and the inclusion of legal costs, the contingency amounts to BRL 278,474 thousand (tax debt BRL 72,761 thousand, penalties and costs BRL 100,983 thousand and interest BRL 104,730 thousand), equivalent to EUR 47,198 thousand.
The Group has not recorded a provision in its consolidated annual accounts because it expects a favourable outcome of the dispute.
Verification of IRPJ and CSLL - FY2018 In January 2022 the Brazilian Tax Authority notified Prosegur Brasil S.A. Transportadora de Valores e Segurança of the start of an inspection regarding Personal Income Tax, Social Security and withholdings at source in relation to the 2018 financial year. The inspection phase was concluded in December 2023, with a contingency amounting to BRL 89,524 thousand (tax debt BRL 50,933 thousand, penalties BRL 10,079 thousand and interest of BRL 28,512 thousand), equivalent to EUR 15,173 thousand, mainly due to various interpretations in the calculation of withholdings associated with IRPJ and CSLL. The entity has initiated a first phase of administrative defence, which is still ongoing.
The Group has not recorded a provision in its consolidated annual accounts because it expects a favourable outcome of the dispute.
Prosegur Cash tax audits and litigation in Spain
Verification of Corporate Income Tax for the financial years 2015 to 2018 On 10 July 2020 notice of the opening of a general inspection procedure was received for Prosegur Servicios de Efectivo de España, S.A., Juncadella Prosegur Internacional, S.A. and Prosegur Global CIT, S.A. for the 2015 -2018 tax periods for Corporate Income Tax.
With regard to Corporate Income Tax for Prosegur Global CIT, a tax assessment was signed on a contested basis on 11 May 2022. After a first phase of presenting arguments, the Company was notified of the settlement ruling at 4 October 2022 the amount of which was EUR 1,431 thousand (tax charge EUR 1,244 thousand, late -payment interest EUR 187 thousand).
With respect to the rest of the companies, there were no significant adjustments. The settlement agreement was subject to appeal in the administrative route through the filing of an Economic -
Administrative Claim before the Central Administrative Economic Court, which was dismissed by the resolution issued on 24 September 2025.
Subsequently, on 26 November 2025, the Company proceeded to file a contentious -administrative appeal before the Contentious -Administrative Chamber of the National Court, which is pending resolution.
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Audit of corporate income tax of the financial years 2019 to 2022 On 11 May 2023, the Company received notification of the opening of a partial verification and investigation procedure for Prosegur Cash, S.A. (as successor to Prosegur Global CIT, S.L.), financial years 2019 to 2021, regarding the deductibility of withholdings at source in corporate income tax.
On 17 July 2023, Prosegur Compañía de Seguridad, S.A., as the parent company of the consolidated tax group, signed a dissenting report proposing an adjustment with a potential impact on Prosegur Cash, S.A. amounting to EUR 2,340 thousand (tax liability of EUR 2,187 thousand, late -
payment interest of EUR 153 thousand). On 31 July 2023, Prosegur Compañía de Seguridad, S.A., as the parent company, filed an initial statement of objections to the tax assessment. Subsequently, on 18 October 2023, the technical office ordered the reopening of the file and the performance of additional actions. On 18 January 2024, the Company was notified of the extension of the verification and investigation actions, which then took on a general nature.
The abovementioned inspection actions were concluded by means of Settlement Agreement A23 -
73819305, issued in relation to the Corporate Income Tax for the years 2019 to 2022, which resulted in an amount to be regularised of 2,353 (tax liability EUR 2,187 thousand, late -payment interest EUR 166 thousand) due to discrepancies in the interpretation and application of Article 31.2 of the Corporate Income Tax Act, regarding the deductibility of certain withholdings of foreign Income Tax.
The Company lodged an appeal for reconsideration against this Agreement, which was rejected on 10 September 2025. Subsequently, the Company filed an economic -administrative claim before the Central Court for Economic -Administrative Issues on 22 December 2025, which is pending resolution.
Due to the different interpretations that could be made of the fiscal legislation in force, additional tax liabilities could arise as a result of inspections by the tax authorities. In any event, the Directors of the Company do not consider that any such liabilities that could arise would have a significant effect on the Consolidated Annual Accounts.
Complementary Tax to ensure an overall minimum level of taxation
On 21 December 2024, “Act 7/2024, of 20 December, establishing a Supplementary Tax to guarantee an overall minimum level of taxation for multinational groups and large national groups, a Tax on the interest and commission margin of certain financial entities and a Tax on liquids for electronic cigarettes and other tobacco -related products, and amending other tax rules” was published in Spain.
Act 7/2024 implements Pillar Two in Spain, retroactively establishing a Complementary Tax for years beginning on 31 December 2023, which ensures that large multinational groups are taxed at a minimum effective rate of 15% wherever they operate. The Prosegur Cash Group, as a large multinational group, is subject to this Complementary Tax.
The ultimate parent company of the Prosegur Cash Group is Gubel, S.L, a company resident in Spain, which holds an indirect majority stake in Prosegur Cash, S.A.
The Cash Group has carried out an analysis of the potential impact of the application of said tax in the first half of 2025, considering the application of the Transitional Safe Harbours provided for in Transitional Provision four of Act 7/2024 and the full calculation, if applicable.
These Transitional Safe Harbours are intended to facilitate the adaptation to Pillar Two regulations by establishing that the Complementary Tax will be zero when one of the three established regulatory tests is met.
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Based on the analysis of possible impacts, the Prosegur Cash Group has no material impact related to the Pillar Two rules on its current tax expense and applies the exception to the recognition of deferred tax assets and liabilities arising from the implementation of Act 7/2024, in accordance with the provisions of IAS 12.
IFRIC 23
In 2019, the Company implemented IFRIC 23, referring to the application of the recognition and valuation criteria of IAS 12 when there is uncertainty over the acceptance by the tax authority of a specific tax treatment used by the Cash Group.
With this, if the Company considers it is likely that the tax authority will accept an uncertain tax treatment, it will establish the taxable gain (loss), the tax bases, unused tax losses, unused tax credits or the tax rates consistent with the tax treatment used or intended to be used in its income tax returns, without allocating any provision for that uncertain tax treatment.
However, if the Company considers it unlikely that the tax authority will accept an uncertain tax treatment, it will reflect the effect of the uncertainty to establish the taxable gain (loss), the tax bases, unused tax losses or credits or the corresponding tax rates. In this manner the effect of the uncertainty for each uncertain tax treatment will be reflected by the Company by using the most likely amount or the expected value of the probability -weighted amounts.
As at 30 June 2026, the provision for IFRIC 23 amounted to EUR 16,790 thousand, recorded under current tax liabilities in the consolidated statement of financial position. No changes in the provision have taken place during the first half of 2026.
Restructuring operations
In the first half of 2026, no corporate restructuring operations were carried out under the neutral tax regime.
In 2025, the following corporate restructuring operations were carried out under the neutral tax
regime:
– In Germany, the takeover merger of Prosegur Services Germany GmbH by Prosegur Internationale Handels GmbH took place in September.
During the first half of 2026, the following entities were wound up:
– In March, Blindados SRL was wound up in Uruguay.
The following companies were wound up in 2025:
– In Mexico, Dinero Gelt México SA de CV was wound up in July.
– In the United States, Prosegur CASH Today USA LLC was wound up in July.
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19. Contingencies
Note 25 of the Consolidated Annual Accounts for the year ended 31 December 2025 provides information on contingent assets and liabilities at that date.
The Cash Group has defined a procedure of internal response and investigation of the existence of potential suspicions or signs of non -compliance with the applicable internal legislation and regulations, including the incidents received through its report channel, whether these suspicions or signs arise in the framework of a legal or judicial procedure, or they are discovered at any previous time.
Certain investigation processes are currently being conducted by regulatory bodies, judicial bodies and internal investigations in some of the countries in which the Cash Group operates, and which are pending a judicial resolution, mainly in regard to competition.
At 30 June 2026 , the Cash Group updated its assessment on legal risks and potential fines and sanctions that could arise from these situations, on the basis of the considerations of its internal and external legal and forensic specialists, and on the information available in each case.
The Cash Group also considers that there are certain situations pending judicial resolution that could lead to the payment of fines and sanctions, as well as to the recognition of other liabilities. The most significant ones are listed below:
Chilean National Economic Prosecutor In 2018, the Chilean National Economic Prosecutor (FNE) began an investigation into potential anti -
competitive practices due to agreed actions and the exchange of sensitive commercial information between competitors between 2017 and 2018.
On 7 October 2021, the FNE filed a request with the Chilean Court for Competition Defence (TDLC) for sanctions, including a fine of approximately EUR 22,000 thousand on a subsidiary of the Cash Group in Chile (as maximum penalty).
The Cash Group filed its defence before the TDLC on 22 November 2022 and at the date of preparation of these condensed interim consolidated financial statements, the legal proceedings are still in progress, having been ordered on 18 March 2024, with the case to be heard as evidence, and the proceedings are pending the development of this phase and the subsequent ruling by the TDLC.
As a result of the formal requirement received on 7 October 2021, the Cash Group reviewed the arguments that previously led it to classify the risk as possible and in 2021 it recorded the provisions that it deemed necessary to make for hedging the likely risk of sanctions being imposed, as identified by our specialist advisors.
As of 30 June 2026 , the recorded amount associated with this risk in provisions for legal risks amounts to EUR 10,012 thousand (31 December 2025 : EUR 9,969 thousand) (Note 16).
Brazilian tax administration
Due to differing interpretations of Brazilian tax legislation, differences in opinion have arisen between the tax authorities and taxpayers regarding the calculation basis for social security contributions, specifically as to whether certain remuneration components should be included.
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Prosegur Cash has calculated its social security contributions based on what it considers to be the most appropriate interpretation of the applicable regulations and the most recent court rulings in similar cases. Notwithstanding the above, Cash Group has quantified the amounts that could arise from the differences between its interpretation and that adopted by the tax authorities, estimating a possible contingency of BRL 56,834 thousand (equivalent to EUR 9,632 thousand).
Prosegur Cash has not recognized any provision in its consolidated annual financial statements, as it believes that, should its position be challenged, the contingency would ultimately be resolved in its favor.
20. Business combinations 20.1. Goodwill added in 2026 No significant business combinations took place during the first six months of 2026 .
20.2. Goodwill added in 2025 whose valuation is being reviewed in 2026 There was no goodwill added in 2025 whose valuation is being reviewed in the first half of 2026 .
20.3. Goodwill added in 2025 and not modified in 2026 There is no goodwill added in 2025 that has not changed during the first six months of 2026 .
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21. Balances and transactions with related parties The Cash Group is controlled by Prosegur Compañía de Seguridad, S.A., which was incorporated in Madrid and directly holds 82.37% of the Company’s shares.
Balances with Prosegur Group companies The Cash Group performs balances with companies belonging to the Prosegur Group but not included in the consolidation scope of the Cash Group:
Thousands of Euros 30 June 2026 31 December 2025
Trade and other receivables Clients 2,220 4,276 Other receivables 33,910 28,210 Total current assets with Prosegur Group companies 36,130 32,486
Total assets 36,130 32,486
Other long -term payables 6 5 Total non -current liabilities with Prosegur Group companies 6 5
Loans granted by group companies Dividends payable 51,455 – Trade and other payables Suppliers 52,394 30,933 Other payables 762 13,470
Total current liabilities with Prosegur Group companies 104,611 44,403
Total liabilities 104,617 44,408 As a result of the tax consolidation of the Prosegur Group in Spain, at 30 June 2026, the balances with the Prosegur Group have been recorded under the heading Other receivables, mainly for the payment of Corporate Income Tax.
Furthermore, suppliers includes services received and not paid for by the Cash Group for management support services and trademark usage expenses.
Additionally, at 30 June 2026 , under the heading of Current financial assets in the consolidated statement of financial position, several loans granted amounting to EUR 19,905 thousand (equivalent to BRL 117,448 thousand) are included (EUR 16,103 thousand in 2025 , equivalent to BRL 106,646 thousand at the exchange rate of 31 December 2025 ), from the Cash Group to the Brazilian company Harapay Holding S.A., which is consolidated using the equity method. The loans were signed between 2022 and 2026, and impaired loans at 30 June 2026 amount to EUR 19,656 thousand.
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The Cash Group performs transactions with companies belonging to the Prosegur Group but not included in the consolidation scope of the Cash Group:
Thousands of Euros 30 June 2026 30 June 2025
Income
Leases and supplies 359 – Services rendered 1,347 510 Total income 1,706 510
Expense
Brand (Note 5) (18,137) (17,704) Management support services (Note 5) (19,514) (24,579) Leases and supplies (10,060) (7,550) Other expenses (7,955) (6,785) Total expenses (55,666) (56,618) Remuneration of members of the Board of Directors and key senior management personnel 1. Remuneration of members of the Board of Directors Details of the remuneration accrued by members of the Board of Directors for all items during the six -
month periods ended 30 June 2026 and 2025 are as follows:
Thousands of Euros 30 June 2026 30 June 2025 Fixed remuneration 544 497 Variable remuneration 946 925 Life insurance premiums 1 1 Other benefits 2 2 Remuneration for membership of the Board and Committee 353 475 Per diems 100 84
1,946 1,983
2. Remuneration of Senior Management personnel:
Senior Management personnel are Cash Group employees who hold, de facto or de jure, Senior Management positions reporting directly to the governing body or Managing Director, including those with power of attorney not limited to specific areas or matters or areas or matters not forming part of the entity’s statutory activity.
The remuneration accrued by all the Senior Management personnel of Prosegur Cash for the six -
month periods ended 30 June 2026 and 2025 is as follows:
Thousands of Euros 30 June 2026 30 June 2025 Total remuneration accrued by Senior Management 529 493 The total commitment acquired by the Company at 30 June 2026 related to the 2024 -2025 Plan and the 2026 -2027 Plan incentives is recorded in liabilities for a total amount of EUR 2,581 thousand (31 December 2025: EUR 4,424 thousand) (Note 16).
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Information required by article 229 of the Spanish Companies Act As required by articles 228, 229 and 230 of the Revised Text of the Spanish Companies Act, approved by Royal Legislative Decree 1/2010 of 2 July 2010 and amended by Act 31/2014 concerning improvements to corporate governance, the members of the Board of Directors and their related parties declare that they have not been involved in any direct or indirect conflicts of interest with the Company during the first six months of 2026 .
Prosegur is controlled by Gubel, S.L. and Yirayira International S.L., holders of 65.09% and 8.00% of the shares of Prosegur, which consolidates Prosegur Cash in its consolidated financial statements.
During the year, Prosegur Cash provided services to Gubel, S.L. in the amount of EUR 7 thousand (EUR 9 thousand at 30 June 2025 ).
During the year, Euroforum Escorial, S.A. (controlled by Gubel, S.L.) billed Prosegur Cash the amount of EUR 43 thousand for services (EUR 36 thousand at 30 June 2025 ).
Moreover, Mr Christian Gut Revoredo and Ms Maite Rodriguez Sedano respectively hold the posts of the Managing Director of Prosegur and Executive President of Prosegur Cash and Proprietary Director (representing Prosegur) at Prosegur Cash. Ms Chantal Gut Revoredo is a Proprietary Director at Prosegur and Prosegur CASH (on behalf of Prosegur). The Board of Directors considers that their respective posts at Prosegur in no way affect their independence when discharging their duties at Prosegur Cash.
22. Average headcount Details of the average headcount of the Cash Group for the six -month periods ended 30 June 2026 and 30 June 2025 , including the companies consolidated using the equity method, are as follows:
30 June 2026 30 June 2025 Men 44,839 44,791 Women 10,170 10,866
55,009 55,657
23. Events after the statement of financial position On 20 July 2026, Grupo Cash, through its Peruvian subsidiary, Compañía de Seguridad Prosegur S.A., entered into a loan agreement in Peru for an amount of PEN 120,000 thousand, with a three -
year maturity and bearing interest at market rates.
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APPENDIX I. – Summary of the main accounting policies The accounting policies used to prepare these condensed interim consolidated financial statements are the same as those applied in the consolidated annual accounts for the year ended 31 December 2025.
In addition, the Standards published at the time that these condensed interim consolidated financial statements were being drawn up and that are not mandatory are as follows:
– Amendments to IFRS 19 Subsidiaries without Public Accountability: It allows certain subsidiaries that apply IFRS to present less information in the notes to the financial statements, maintaining the same recognition and measurement criteria as the rest of the standards.
– Clarification on Translating to a Hyperinflationary Presentation Currency: issued in November 2025 and mandatory as of January 2027.
– IFRS 18 Presentation and Disclosures in Financial Statements: Among other changes, IFRS 18 introduces three new requirements to improve companies’ reporting of their financial performance and provide investors with a better basis for analysing and comparing
companies:
– It improves the comparability of the statement of financial performance by introducing three new categories: operating, investing and financing; as well as new subtotals:
operating result and result before financing and income tax.
– It provides greater transparency of management -defined performance measures by introducing new guidelines and breakdowns.
– It provides guidance to provide a more useful grouping of information in the financial statements.
These rules shall apply from 1 January 2027.
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Table of contents 1. Events occurred since the end of 2025 55 2. Performance of the business 55 2.1. Sales by geographical segment 55 2.2. Sales by line of activity 56 2.3. Margins 56 2.4 Outlook for the second half of 2026 57 3. Average headcount 59 4. Investments 59 5. Financial management 59 6. Own shares 60 7. Innovation 60 8. Alternative Performance Measures 63 9. Subsequent events 68
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Directors’ interim consolidated report for the six -month period ended 30
June 2026
1. Events occurred since the end of 2025 Note 4 to the Cash Group’s condensed interim consolidated financial statements for the six -month period ended 30 June 2026 details the most significant transactions and events that have occurred during the first six months of 2026.
2. Performance of the business 2.1. Sales by geographical segment The Cash Group sales in the period from January to June 2026 came to EUR 1,000.8 million, a drop of 0.4% with respect to the EUR 1,005.1 million in the same period the previous year. Organic growth had a positive impact of 3.0% and inorganic growth had, in turn, a negative impact of 1.2%. The negative impact of the exchange rate and the result of applying IAS 29 and 21 has been 2.2%.
Consolidated sales are distributed by geographical area as follows:
Millions of Euros June 2026 June 2025 Variation Europe 330.3 323.1 2.2 %
AOA 91.3 92.6 (1.4) %
LatAm 579.2 589.4 (1.7) % Cash Group Total 1,000.8 1,005.1 (0.4) % The variation in sales for the first six months of 2026 compared to the same period in 2025 is explained as follows:
– The positive sales trend in local currency continues in most of the countries where the Cash
Group operates;
– Significant reduction in sales in Argentina, due, on the one hand, to a negative exchange rate effect, and on the other, to the government policies implemented in the country, which have caused a decrease in the volumes transported due to a reduction in consumption.
– Positive performance of Transformation Products compared to sales in the same period of the previous year.
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2.2. Sales by line of activity Consolidated sales are distributed by lines of activity as follows:
Millions of Euros June 2026 June 2025 Variation Transport 474.7 485.9 (2.3) % % of total 47.4 % 48.3 % Cash management 168.1 177.3 (5.2) % % of total 16.8 % 17.6 % Transformation Products 357.9 341.9 4.7 % % of total 35.8 % 34.0 % Cash Group Total 1,000.8 1,005.1 (0.4) %
2.3. Margins
The adjusted EBITA margin is distributed by geographical areas as follows:
at 30 June 2026 Millions of Euros Europe AOA LatAm Cash Group
Sales 330.3 91.3 579.2 1,000.8 Adjusted EBITA 7.9 11.7 91.8 111.4 Adjusted EBITA margin 2.4 % 12.8 % 15.8 % 11.1 %
at 30 June 2025 Millions of Euros Europe AOA LatAm Cash Group
Sales 323.1 92.6 589.4 1,005.1 Adjusted EBITA 11.6 8.3 92.6 112.4 Adjusted EBITA margin 3.6 % 8.9 % 15.7 % 11.2 % The adjusted EBITA from January to June 2026 amounted to EUR 111.4 million, a slight decrease of 0.93% on the same period in 2025 when the figure was EUR 112.4 million. The adjusted EBITA margin over sales in January -June 2026 was 11.1%, compared to 11.2% the previous year.
The adjusted EBITA for the period from January to June 2026 decreased in absolute terms with respect to the same period the previous year, owing to the following reasons:
– In general terms, the countries where the Cash Group operates continue to meet the objectives established in the Strategic Plan, although sales in some countries have fallen significantly compared to the same period of the previous year.
– Specifically, sales in Argentina continue to suffer a significant reduction compared to the same period of the previous year, due, on the one hand, to a negative exchange rate effect, and on the other, to the government policies implemented in the country, which have caused a decrease in transported volumes due to a reduction in consumption.
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– Positive impacts from the result of the companies that the Cash Group consolidates using the equity method in Australia during the first six months of 2026, compared to the same period in 2025; additionally, there has been a positive impact from the capital gain generated by the sale of the AVOS business in Argentina and Paraguay to Prosegur Compañía de Seguridad;
– Negative exchange rate effect, with particular relevance of the Argentine peso;
– Steady growth of Transformation Products.
2.4. Outlook for the second half of 2026 During the first half of 2026, the Cash Group has shown resilient performance in an environment marked by geopolitical instability, maintaining operational stability and advancing the execution of the company’s Transformation strategy while improving the traditional business.
Sales reached EUR 1,001.7 million, representing a slight fall of 0.4% compared to the same period of the previous year. However, on a like -for-like basis, sales grew by 0.7%, reflecting the strength of the underlying business.
The macroeconomic environment during the first half of 2026 has varied across regions:
– In the LATAM region, economic activity has continued to show resilience, supported by private consumption and a gradual easing of inflationary pressures. In particular, Argentina has continued to make progress in its macroeconomic stabilisation and disinflation, although consumption remains constrained by the adjustment measures implemented in recent
quarters;
– In the EUROPE region, economic activity has maintained moderate growth, supported primarily by domestic demand, although uncertainties persist regarding energy price developments, geopolitical tensions and the international context;
– In the AOA region, despite the conflict in the Middle East that is creating tension and instability, economic activity has continued to develop favourably, supported by domestic demand and the growth of emerging economies;
Looking ahead to the second half of the year, these trends are expected to continue, although financial market volatility, currency movements and geopolitical uncertainty will continue to weigh on the pace of global economic growth.
In this context, cash continues to play a key role as a universal, accessible and resilient means of payment, especially in those geographies where it still accounts for a significant share of daily transactions and economic activity.
It is important to highlight that, as part of the execution of the Perform & Transform strategy, Transformation Products have increased their sales by 7.8% during the first six months of the year, excluding the contribution of the AVOS business, which was sold by the Cash Group at the end of the first quarter of 2026. As a result, these products reach a penetration of 35.1% of total sales, improving by 240 basis points compared to the same period of the previous year.
By geography, and in terms of activity and the development of the Transformation strategy:
- LATAM, the main region of the Cash Group, representing approximately 58% of total sales, has recorded organic growth of 2.0%, although sales in euros have been affected by currency movements. Transformation Products now represent 38.6% of the region’s sales;
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- EUROPE has maintained a positive trend in activity, with organic growth of 2.4%.
Transformation Products continue to grow in importance and now represent over a third of the region’s sales.
- AOA has recorded organic growth of 11.8%. Despite the adverse impact of currency movements, the region continues to expand its activity and advance the rollout of Transformation Products.
In terms of profitability, the Cash Group achieved an adjusted EBITA of EUR 111.4 million during the first half of 2026, with a margin on sales of 11.1%, in line with that recorded in the same period of the previous year.
Turning to the analysis of profitability by region, the following can be observed:
- LATAM has achieved sales of EUR 579.2 million and an adjusted EBITA margin of 15.8%, remaining at levels similar to those of the previous year, despite the impact of currency movements in the region.
- Europe has achieved sales of EUR 330.3 million and an adjusted EBITA margin of 2.4%. The region’s profitability has been affected by the performance of the foreign exchange (Forex) business and by higher incident rates during the period.
- AOA has achieved sales of EUR 91.3 million and an adjusted EBITA margin of 12.8%, with an increase in adjusted EBITA of 41.0% compared to the same period of the previous year, confirming the improvement observed in the region’s profitability.
Looking ahead to the full year 2026, the Cash Group maintains its focus on:
• driving organic growth in all geographies;
• accelerating the adoption of transformation solutions;
• continuing to improve operational efficiency and cash generation.
Overall, the results for the first half of 2026 reflect the resilience of the Group’s business model, supported by its geographical diversification, the progressive consolidation of Transformation Products and solid operational and financial discipline. Looking ahead to the second half of the year, trends in currencies, economic activity and consumption in the main markets, as well as the geopolitical and regulatory context, will continue to be the main factors to monitor. In this environment, the Group remains committed to executing its strategy, generating sustainable value and strengthening its financial position.
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3. Average headcount Details of the average headcount of the Cash Group for the six -month periods ended 30 June 2026 and 30 June 2025 are as follows:
30 June 2026 30 June 2025 Men 44,839 44,791 Women 10,170 10,866
55,009 55,657
4. Investments
All of the Cash Group’s investments are analysed by the corresponding technical and operating areas and the management control department, which estimate and examine the strategic importance, return period and yields of the investments before these are approved. Subsequently these are submitted to the investment team for a final decision on whether to proceed with the investment.
During the first six months of 2026 , investments in fixed assets were made for the amount of EUR 37.1 million (at 30 June 2025 : EUR 32.9 million).
5. Financial management The Cash Group calculates net financial debt as follows: total current and non -current borrowings (excluding other non -bank borrowings) plus net derivative financial instruments, minus cash and cash equivalents, and minus other current financial assets.
At 30 June 2026 net financial debt totals EUR 687.8 million (at 31 December 2025 : EUR 710.9 million).
The Cash Group calculates its leverage ratio as the ratio resulting from net financial debt (excluding other non -bank borrowings corresponding to deferred M&A payments) over total capital, the latter being the sum of net financial debt (excluding other non -bank borrowings corresponding to deferred M&A payments) and equity from the Cash Group business. The ratio at 30 June 2026 is of 0.7 (31 December 2025 : 0.8).
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6. Own shares Details of changes in own shares during the first half of 2026 are as follows:
Number of
shares Millions of
Euros
Balance at 31 December 2025 22,366,962 16.65 Capital reduction (11,678,000) (8.00) Other awards (694,635) (0.57) Balance at 30 June 2026 9,994,327 8.08
7. Innovation
Last November, Prosegur Cash held the eighth edition of its Innovation Days, reaffirming its commitment to transformation and technological development. This commitment is based on a model that integrates innovation and disruption to anticipate trends and shape the future of the organisation, with a strong emphasis on AI.
Prosegur Cash has consolidated its commitment to innovation as a strategic axis to transform its business model and strengthen its position in the cash value chain.
Transformation Products already account for more than 35% of the company’s sales, reflecting the tangible impact of its innovative strategy. This is the best basis for contributing to the future of the company. Its three main pillars, Cash Today, Corban and Forex, drive the outstanding growth of Transformation Products while demonstrating client confidence in them. In this context, it has developed disruptive solutions such as Prosegur Pay, prepaid Forex cards or Prosegur Digital Gold, initiatives that demonstrate its ability to combine technology, security and market experience with proposals that provide clients with differential value.
This is how we have innovated Cash management and in transit is currently at a technological crossroad. The major advances introduced in the sector in recent years have created a scenario in which a radical transformation of the business is both possible and necessary. We cannot afford to wait.
For this reason, in recent years, Prosegur Cash has focused on exponentially boosting its capacity for innovation, designing a working methodology focused on the development of new products and services.
Artificial intelligence has fully entered traditional products, optimising processes, improving cost efficiency, simplifying tasks, and ensuring 100% achievement of the company’s strategic objectives.
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In practice, this involves listening to clients, identifying their problems and understanding their expectations and necessities. It is this process of active listening and thorough understanding that makes it possible to launch products that respond to the real demands of the market. Of course, the product is confirmed with the client and if the result is satisfactory, an action plan is designed to be implemented on a massive scale.
Innovation is enabling the company to develop new proposals that bring value to clients and make a substantial difference to the bulk of competitors. Adequately protecting Prosegur Cash developments susceptible to protection as Intellectual and Industrial Property (IP) is an intrinsic part of innovation processes.
To this end, Prosegur Cash has a Policy as a pillar for the management and protection of its IP. This policy establishes an IP Committee which is responsible for supervising this Corporate Policy and takes decisions on Prosegur Cash’s IP asset management and marketing strategy.
Emblematic projects
During the first half of 2026, Prosegur Cash worked on the development and implementation of several digital transformation programmes.
All these projects have been based on the specific knowledge of the sector, the creativity and technological competence of the company’s teams and the exploitation of the data at its disposal.
These combined qualities enabled the Company to build a unique proposal for solutions. Alone, in close collaboration with start -ups or in the framework of corporate partnerships, Prosegur Cash has started activities in technological fields such as Artificial Intelligence (AI), Data Science, Automation and Blockchain.
In February 2026, Prosegur Cash was included for the first time in the S&P Global Sustainability Yearbook 2026, a yearbook that distinguishes the companies with the best corporate sustainability results within their respective sectors. Prosegur Cash, which has a total ESG rating of 59/100, according to Standard & Poor’s, is the only company in its sector (private security) included in this yearbook, which highlights the company’s commitment to the criteria set out in its Sustainability Master Plans.
Prosegur Crypto extends its tokenised gold platform to the EU and the UK In April of this year, Prosegur Crypto, the institutional digital asset custody service of Prosegur Cash;
Minos Global, a Spanish company specialising in the custody, trading and management of digital assets; and Nuek, the unit specialising in payment infrastructure of the Indra Group, signed an agreement to explore the joint development of solutions in the field of digital payments, stablecoins and asset tokenisation.
Furthermore, Prosegur Crypto has launched its pioneering platform for purchasing tokenised gold, Prosegur Digital Gold, to the rest of the European Union (EU) countries and the United Kingdom.
This expansion takes place six months after its launch in the Spanish market and represents the company’s effective entry into one of the largest integrated financial spaces in the world, consisting of around 450 million inhabitants with high purchasing power. The platform, Prosegur Digital Gold, allows the digital purchase of gold backed one hundred per cent by physical gold safeguarded by Prosegur and verified through periodic audits.
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Pioneering solutions for the CORE business In Brazil, Prosegur Cash has continued to strengthen its commitment to innovation applied to strategic sectors. In this regard, the company presented its new refrigerated armoured truck during the Intermodal South America 2026 trade fair, a pioneering solution designed to raise security standards in the pharmaceutical logistics chain. This initiative responds to the growth of the specialised medicines market and the increase in crime associated with high -value products, offering a transport model that combines integral armouring, advanced thermal control and continuous monitoring. The proposal is complemented by the consolidation of Prosegur Cash as a benchmark operator in special loads and international transport of sensitive goods, supported by international certifications that guarantee its compliance with the highest operational standards.
In recent years, the company has implemented internal policies geared towards fostering equal opportunities, inclusion, and female leadership, aligning with the criteria set by the Spanish National Securities Market Commission (CNMV), which require female representation of between 25% and 75% on the board of directors and between 15% and 85% in senior management.
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8. Alternative Performance Measures In order to comply with ESMA Guidelines on APMs, the Cash Group presents this additional information to enhance the comparability, reliability and understanding of its financial reporting. The Company presents its profit/loss in accordance with International Financial Reporting Standards (IFRS). However, Management considers that certain alternative performance measures provide additional useful financial information that should be taken into consideration when assessing its performance. Management also uses these APMs to make financial, operating and planning decisions, as well as to assess the Company’s performance. The Cash Group provides those APMs it deems appropriate and useful for users to make decisions and those it is convinced represent a true and fair view of its financial information.
APM Definition and calculation Purpose
Working capital
This is a finance measure that represents operational liquidity available for the Cash Group.
Working capital is calculated as current assets less current liabilities (excluding the short -term lease liabilities) plus deferred tax assets less deferred tax liabilities less long -term provisions.
Positive working capital is necessary to ensure that the Company can continue its operations and has sufficient funds to cover matured short -term debt as well as upcoming operating expenses. Working capital management consists of the management of inventories, payables and receivables and cash.
Organic Growth
Organic growth is calculated as an increase or decrease of income between two periods adjusted by acquisitions and divestments and the exchange rate effect. Organic growth provides the comparison between years of the growth of the revenue excluding the currency effect.
Inorganic Growth
The Cash Group calculates inorganic growth for a period as the sum of the revenue of the companies acquired minus divestments. The income from these companies is considered inorganic for 12 months following their acquisition date. Inorganic growth provides the growth experienced by the company through new acquisitions or divestments.
Exchange rate effect The Cash Group calculates the exchange rate effect as the difference between the revenue for the current year less the revenue for the current year using the exchange rate of the previous year. The exchange rate effect provides the impact of currencies on the revenue of the company.
Cash flow conversion rate The Cash Group calculates the cash flow conversion rate as the difference between EBITDA less the CAPEX on EBITDA. The cash flow conversion rate provides the cash generation of the Company.
Gross Financial Debt The Cash Group calculates gross financial debt as all financial liabilities minus other non -bank borrowings corresponding to deferred payments for M&A acquisitions. Gross financial debt reflects gross financial debt without including other non -bank borrowings corresponding to deferred payments for M&A
acquisitions
Cash availability
The Cash Group calculates cash availability as the sum of cash and cash equivalents and any short and long term unused credit facilities. Cash availability reflects available cash as well as potential cash available through undrawn credit facilities.
Net Financial Debt The Cash Group calculates financial debt as the sum of the current and non -current financial liabilities (including other payables corresponding to deferred M&A payments and financial liabilities with Group companies) minus cash and cash equivalents, minus current investments in group companies and minus other current financial assets.
The net debt provides the gross debt less cash in absolute terms of a company.
Adjusted EBITA
Adjusted EBITA is calculated on the basis of the consolidated profit/loss for the period without including the profit/loss after taxes from discontinued operations, income taxes, finance income or costs, or amortisation and impairment of intangible assets, but including the amortisation and impairment of computer software. The adjusted EBITA provides an analysis of earnings before interest, taxes and amortisation, and impairment of intangible assets (except computer software).
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EBITDA
EBITDA is calculated on the basis of the consolidated profit/loss for the period for the Cash Group, excluding earnings after taxes from discontinued operations, income taxes, finance income or costs, and cost of repayment or impairment of fixed assets, but including impairment of property, plant and equipment.
The purpose of the EBITDA is to obtain a fair view of what the company is earning or losing in the business itself. The EBITDA excludes variables not related to cash that may vary significantly from one company to another depending upon the accounting policies applied. Amortisation is a non -monetary variable and therefore of limited interest for investors.
Adjusted EBITA margin The adjusted EBITA margin is calculated by dividing the operating profit/loss of the company by the total figure of revenue.
The adjusted EBITA margin provides the profitability obtained prior to amortisation and impairment of intangible assets (except computer software) of the total revenue accrued.
Leverage ratio
The Cash Group calculates the leverage ratio as net financial debt divided by total capital. Net financial debt is calculated as described above and including debt associated with non -current assets held for sale. Total capital is the sum of equity plus net financial debt.
The leverage ratio provides the weight of the net financial debt over all of the Company’s own and third-party financing, shedding light on its financing structure.
Ratio of net financial debt
to equity
The Company calculates the ratio of net financial debt to equity by dividing the net financial debt (excluding other non -bank borrowings relating to deferred M&A payments and financial debt from lease payments) by equity as they appear in the Statement of Financial Position. The ratio of net financial debt to shareholder equity offers the ratio of the Company’s net financial debt to its equity.
Ratio of financial debt to
EBITDA
The Company calculates the ratio of net financial debt to equity by dividing the net financial debt (excluding other non -bank borrowings relating to deferred M&A payments and financial debt from lease payments) by last twelve months EBITDA. The ratio of net financial debt to EBITDA offers the ratio of the Company’s net financial debt to its EBITDA, thus reflecting its payment capacity.
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Working capital (in millions of Euros) Note 30.06.2026 31.12.2025 Inventories 14 29.1 25.7 Clients and other receivables 396.0 334.0 Receivables with Prosegur Group 21 36.1 32.5 Current tax assets 46.9 59.5 Current financial assets 21.4 19.8 Cash and cash equivalents 13 489.4 1,019.7 Deferred tax assets 50.2 48.0 Suppliers and other payables (353.9) (339.1) Current tax liabilities (59.6) (71.7) Current financial liabilities 17 (516.0) (1,098.7) Payables with Prosegur Group 21 (104.6) (44.4) Other current liabilities (21.2) (13.2) Deferred tax liabilities (54.9) (63.9) Provisions 16 (93.6) (90.4) Total Working Capital (134.7) (182.2)
Organic growth (in millions of Euros) Note 30.06.2026 30.06.2025 Revenue current year 1,000.8 1,005.1 Less: revenue previous year 1,005.1 998.1 Less: inorganic growth (11.1) 20.3 Exchange rate effect (23.6) (109.7) Total Organic Growth 2 Directors’ report 30.3 96.4
Inorganic growth (in millions of Euros) Note 30.06.2026 30.06.2025
AOA (2.2) 20.3
Latam (9,0) -
Total Inorganic Growth 2 Directors’ report (11.1) 20.3
Exchange rate effect (in millions of Euros) Note 30.06.2026 30.06.2025 Revenue current year 1,000.8 1,005.1 Less: Revenue current year at the previous year’s exchange rate 1,024.4 1,114.8 Exchange rate effect 2 Directors’ report (23.6) (109.7)
Cash Flow Conversion Rate (in millions of Euros) Note 30.06.2026 30.06.2025
EBITDA 172.7 170.5
CAPEX 37.1 32.9
Cash flow conversion rate (EBITDA - CAPEX / EBITDA) 78.5 % 80.7 %
Gross financial debt (In millions of Euros) Note 30.06.2026 31.12.2025 Debentures and other negotiable securities 17 477.0 1,058.4 Bank loans 17 523.9 460.2 Credit accounts 17 5.3 5.5 Third parties funds 17 170.9 206.5 Gross financial debt 5 Directors’ report 1,177.1 1,730.6
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Cash availability (in millions of Euros) Note 30.06.2026 31.12.2025 Cash and cash equivalents 13 489.4 1,019.7 Short -term undrawn credit facilities 237.0 260.0 Long -term credit availability 300,0 300,0 Cash availability 5 Directors’ report 1,026 .4 1,579.7 Net financial debt (in millions of Euros) Note 30.06.2026 31.12.2025 Financial liabilities 17 1,248.2 1,804.4 Plus: Financial debt from lease payments (excluding subleasing) and others 10 76.9 79.9 Adjusted financial liabilities (A) 1,325.1 1,884.3 Non-bank borrowings with Group (B) – – Cash and cash equivalents 13 (489.4) (1,019.7) Less: adjusted cash and cash equivalents (C) (489.4) (1,019.7) Less: Own shares (D) (6.3) (14.2) Total Net Financial Debt (A+B+C+D) 829.4 850.4 Less: other non -bank borrowings (E) 17 (51.6) (55.3) Plus: Own shares (F) 6.3 14.2 Less: financial debt from lease payments (excluding subleasing) (G) 10 (96.4) (98.3) Total Net Financial Debt (excluding other non -bank borrowings referring to deferred M&A payments and financial debt from lease payments) (A+B+C+D+E+F+G) 5 Directors’ report 687.8 710.9
Adjusted EBITA (in millions of Euros) Note 30.06.2026 30.06.2025 Consolidated profit/loss for the year 2 Directors’ report 48.5 47.6 Income taxes 2 Directors’ report 35.0 39.1 Net finance costs 2 Directors’ report 17.4 14.5 PPE depreciation and impairment (excluding computer software) 2 Directors’ report 10.6 11.3 Adjusted EBITA 2 Directors’ report 111.4 112.4
EBITDA (in millions of Euros) Note 30.06.2026 30.06.2025 Consolidated profit/loss for the year 2 Directors’ report 48.5 47.6 Income taxes 2 Directors’ report 35.0 39.1 Net finance costs 2 Directors’ report 17.4 14.5 Total repayments and impairment (excluding impairment of property, plant and equipment) 2 Directors’ report 71.9 69.3 EBITDA 2 Directors’ report 172.7 170.5
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Adjusted EBITA margin (in millions of Euros) Note 30.06.2026 30.06.2025 Adjusted EBITA 2 Directors’ report 111.4 112.4 Revenue 9 1,000.8 1,005.1 Adjusted EBITA margin 2 Directors’ report 11.1 % 11.2 %
Leverage ratio (in millions of Euros) Note 30.06.2026 31.12.2025 Total Net Financial Debt (excluding other non -bank borrowings referring to deferred M&A and financial debt from lease payments) 17 687.8 710.9 Net financial debt excluding other non -bank borrowings (A) 687.8 710.9 Plus: Net assets (B) 15 254.6 220.1 Total capital: Net financial debt excluding other non -bank borrowings and net assets (C=A+B) 942.4 931.0 Leverage ratio (C/A) 2.1.2 Directors’ report 0.7 0.8
Ratio of net financial debt to equity (in millions of Euros) Note 30.06.2026 31.12.2025 Equity (A) 15 254.6 220.1 Net Financial Debt (excluding other non -bank borrowings referring to deferred M&A and financial debt from lease payments) (B) 687.8 710.9 Ratio of net financial debt to shareholder equity (B/A) 5 Directors’ report 2.7 3.2
Ratio of net financial debt to EBITDA (in millions of Euros) Note 30.06.2026 31.12.2025 Last Twelve Months EBITDA (A) 2 Directors’ report 357.9 355.7 Net Financial Debt (excluding other non -bank borrowings referring to deferred M&A and financial debt from lease payments) (B) 687.8 710.9 Ratio of net financial debt to EBITDA (B/A) 2 Directors’ report 1.9 2.0
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9. Subsequent events Note 23 of Prosegur’s condensed interim consolidated financial statements, corresponding to the six -
month period ending 30 June 2026, provides a breakdown of the post -closing events that could have a material impact on the presentation of said interim financial statements.
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STATEMENT OF RESPONSIBILITY FOR THE FINANCIAL REPORT FOR THE
SECOND QUARTER OF 2026
The members of the Board of Directors of Prosegur Cash, S.A. state, to the best of their knowledge, that the financial information selected from Prosegur Cash, S.A., as well as the condensed interim consolidated financial statements of Prosegur Cash, S.A. and their subsidiaries, for the first half of 2026 , drawn up by the Board of Directors at its meeting of 28 July 2026 , and prepared in accordance with the applicable accounting principles, provide a true and fair view of the assets, financial position and the profit/loss of Prosegur Cash, S.A., as well as of the subsidiaries included in the consolidation scope, taken as a whole, and that the respective directors’ interim reports include a reliable analysis of the information required.
Madrid, 28 July 2026
Mr Christian Gut Revoredo Ms Ana Sainz de Vicuña Bemberg Executive President Director
Mr José Antonio Lasanta Luri Ms Bárbara Gut Revoredo Managing Director Director
Mr Claudio Aguirre Pemán Ms Maite Rodríguez Sedano
Director Director
Mr Daniel Entrecanales Domecq
Director
Ms Chantal Gut Revoredo
Director
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Proceeding to record that the Board of Directors of Prosegur Cash, S.A., in the meeting held in Madrid on 28 July 2026 , has d rawn up the Half -Yearly Financial Report for the first half of 2026, consisting of the following documents: the individual financial information selected, the consolidated financial information selected, the condensed interim consolidated financial statements and the Directors’ interim report of Prosegur Cash, S.A. and its subsidiaries, and the statement of responsibility of the Directors, all corresponding to the first half of 2026; this documentation has been drawn up unanimously (by all the attending directors) by the Board of Directors of the Company, in accordance with the provisions of article 35 of Act 24/1988, of 27 July, on the Securities Market, in the meeting held on this date.
The aforementioned documents, which are presented in a single body, are transcribed in the preceding pages numbered consecutively, written only on their front and all signed purely for identification purposes by the Secretary of the Board of Directors, with the Company’s seal.
The declarations of responsibility on its content have been signed by the directors of Prosegur Cash, S.A.
And all of which as secretary of the Board of Directors I attest to, in Madrid on 28 July 2026 .
Signed: Mr Antonio Rubio Merino (Non -Director Secretary)
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