Interim report
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1 Selected explanatory notes included on pages 7 to 42 are an integral part of these interim condensed consolidated financial statements. ENG ROBYG SA IFRS Consolidated FS 30 June 2025.docx ROBYG S.A. GROUP FINANCIAL REPORT FOR THE 6 MONTH PERIOD ENDED 30 JUNE 2026 (containing the interim condensed consolidated financial statements of the ROBYG S.A. Group for 6 months ended 30 June 2026 and interim condensed standalone financial statements of ROBYG S.A. for 6 months ended 30 June 2026
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ROBYG S.A. GROUP Interim condensed consolidated financial statements for 6 months ended 30 June 2026 (in thousands of PLN) 2 Selected explanatory notes included on pages 7 to 42 are an integral part of these interim condensed consolidated financial statements. INTERIM CONDENSED CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME ...................... 3 INTERIM CONDENSED CONSOLIDATED STATEMENT OF FINANCIAL POSITION ................................ 4 INTERIM CONDENSED CONSOLIDATED STATEMENT OF CASH FLOWS ............................................. 5 INTERIM CONDENSED CONSOLIDATED STATEMENT OF CHANGES IN EQUITY ................................. 6 SELECTED NOTES ...................................................................................................................................... 7 1. GENERAL INFORMATION ....................................................................................................................... 7 2. APPROVAL AND BASIS FOR THE PREPARATION OF THE INTERIM CONDENSED CONSOLIDATED FINANCIAL STATEMENTS .................................................................................................................................................11 3. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES ..............................................................................14 4. SEASONALITY OF OPERATIONS ...........................................................................................................14 5. SEGMENT INFORMATION ....................................................................................................................15 6. INVESTMENTS IN JOINT VENTURES ACCOUNTED FOR USING THE EQUITY METHOD ..................................20 7. NOTES TO THE INTERIM CONDENSED CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME .............23 8. INVENTORIES ....................................................................................................................................24 9. INVESTMENT PROPERTIES ..................................................................................................................25 10. CASH AND CASH EQUIVALENTS ...........................................................................................................28 11. TRADE AND OTHER RECEIVABLES .......................................................................................................28 12. INTEREST-BEARING LOANS, BORROWINGS, BONDS AND LEASE LIABILITIES ............................................29 13. TRADE AND OTHER PAYABLES (CURRENT AND NON-CURRENT) .............................................................29 14. DIVIDENDS PAID AND PROPOSED ........................................................................................................30 15. EARNINGS PER SHARE .......................................................................................................................30 16. CONTINGENT LIABILITIES ....................................................................................................................31 17. RELATED PARTIES .............................................................................................................................33 18. FINANCIAL INSTRUMENTS ...................................................................................................................35 19. EQUITY .............................................................................................................................................37 20. SIGNIFICANT EVENTS RELATING TO THE GROUP, OCCURRING DURING THE PERIOD OF 6 MONTHS ENDED 30 JUNE 2026 ...............................................................................................................................................39 21. DEBT RATIO ......................................................................................................................................41 22. ASSETS CLASSIFIED AS HELD FOR SALE ..............................................................................................42 23. EVENTS AFTER THE REPORTING DATE .................................................................................................42
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ROBYG S.A. GROUP Interim condensed consolidated financial statements for 6 months ended 30 June 2026 (in thousands of PLN) 3 Selected explanatory notes included on pages 7 to 42 are an integral part of these interim condensed consolidated financial statements. INTERIM CONDENSED CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME Note 6 months ended 30 June 2026 (unaudited) 3 months ended 30 June 2026 (unaudited, not reviewed) 6 months ended 30 June 2025 (unaudited, restated) 3 months ended 30 June 2025 (unaudited, not reviewed) Continuing operations Sales revenues, including: 5, 7.1 727 307 411 237 486 421 314 519 - sales of residential and commercial units 381 051 177 251 309 459 209 734 - revenues from general contracting services and other services provided to related parties 222 210 113 315 158 310 89 744 Cost of sales, including: 5, 7.3 (602 308) (355 461) (374 467) (238 395) - cost of residential and commercial units sold (274 491) (135 225) (212 019) (144 434) - cost of general contracting services and other services provided to related parties (209 259) (106 183) (147 998) (84 476) Gross profit on sales 5 124 999 55 776 111 954 76 124 Gain on loss of control following contribution to joint ventures 2 008 1 630 - - Post-tax share of the profit or loss of the joint ventures accounted for using the equity method 6.1 10 889 8 941 753 1 707 Revaluation of investment properties to fair value, net 9 45 889 45 889 33 424 28 480 Other income 1 009 331 3 861 239 Selling and marketing expenses (21 402) (11 735) (16 136) (8 532) Administrative expenses (35 177) (17 986) (32 564) (15 314) Other expenses (1 243) (1 038) (771) (478) Operating profit 126 972 81 808 100 521 82 226 Finance income 9 978 4 912 11 332 5 183 Finance costs (9 445) (4 891) (10 912) (6 407) Profit before tax 127 505 81 829 100 941 81 002 Income tax 7.4 (23 124) (14 085) (18 995) (14 519) Net profit for the period 104 381 67 744 81 946 66 483 Attributable to: Equity holders of the parent 102 529 66 635 82 158 66 488 Non-controlling interest 19.2 1 852 1 109 (212) (5) 104 381 67 744 81 946 66 483 Other comprehensive income Other comprehensive income to be reclassified to profit/(loss) in subsequent periods (net of tax): - - - - Total comprehensive income for the period, net of tax 104 381 67 744 81 946 66 483 Attributable to: Equity holders of the parent 102 529 66 635 82 158 66 488 Non-controlling interest 19.2 1 852 1 109 (212) (5) 104 381 67 744 81 946 66 483 Earnings per share (in PLN per share): - basic and diluted from profit for the period attributable to ordinary equity holders of the parent 15 1,06 0,69 0,85 0,69
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ROBYG S.A. GROUP Interim condensed consolidated financial statements for 6 months ended 30 June 2026 (in thousands of PLN) 4 Selected explanatory notes included on pages 7 to 42 are an integral part of these interim condensed consolidated financial statements. INTERIM CONDENSED CONSOLIDATED STATEMENT OF FINANCIAL POSITION Note 30 June 2026 (unaudited) 31 December 2025 ASSETS Non-current assets Property, plant and equipment 23 089 24 930 Investment properties 9 964 664 902 635 Goodwill 21 488 21 488 Other intangible assets 369 586 Investments in joint ventures accounted for using the equity method 6.1 48 215 37 326 Other long-term receivables and other assets 11.1 124 625 120 944 Deferred tax assets 109 084 100 875 1 291 534 1 208 784 Current assets Inventories 8 2 636 351 2 466 365 Trade and other receivables 11.2 532 904 278 349 Income tax receivables 2 349 4 890 Prepayments 11 555 2 465 Individual escrow accounts 139 120 167 942 Cash and cash equivalents 10 198 569 139 441 Non-current assets (disposal group) classified as held for sale 22 52 818 49 472 3 573 666 3 108 924 TOTAL ASSETS 4 865 200 4 317 708 EQUITY AND LIABILITIES Equity (attributable to equity holders of the parent) Share capital 19.1 28 940 28 940 Share premium 385 423 385 423 Capital contribution paid, not registered 19.3 73 797 - Reserve capital 19.3 17 847 9 647 Retained earnings 1 746 999 1 644 470 2 253 006 2 068 480 Non-controlling interest 19.2 19 309 28 499 Total equity 2 272 315 2 096 979 Non-current liabilities Interest-bearing loans, borrowings, bonds and lease liabilities 12 833 571 740 457 Perpetual usufruct right of land 73 236 39 574 Other liabilities 13 72 228 77 087 Deferred income tax liabilities 168 885 173 312 1 147 920 1 030 430 Current liabilities Trade and other payables 13 448 051 335 624 Perpetual usufruct right of land 43 737 57 712 Interest-bearing loans, borrowings, bonds and lease liabilities 12 168 794 188 322 Income tax payables 6 260 17 973 Accruals 57 800 87 057 Advances from the customers 713 760 497 143 Provisions 16.2 6 563 6 468 1 444 965 1 190 299 Total liabilities 2 592 885 2 220 729 TOTAL EQUITY AND LIABILITIES 4 865 200 4 317 708
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ROBYG S.A. GROUP Interim condensed consolidated financial statements for 6 months ended 30 June 2026 (in thousands of PLN) 5 Selected explanatory notes included on pages 7 to 42 are an integral part of these interim condensed consolidated financial statements. INTERIM CONDENSED CONSOLIDATED STATEMENT OF CASH FLOWS Note 6 months ended 30 June 2026 (unaudited) 6 months ended 30 June 2025 (unaudited, restated) Cash flows from operating activities Profit before tax 127 505 100 941 Adjustments for: Depreciation/Amortization 3 872 3 689 Revaluation of investment properties to fair value, net 9 (45 889) (33 424) Finance income (9 978) (11 332) Finance costs 9 445 10 912 Change in provisions 95 (2 650) (Profit)/loss on disposal and liquidation of non-current assets, investment properties and assets held for sale (145) (2 665) Gain on loss of control following contribution to joint ventures (2 008) - Post-tax share of the profit or loss of the joint ventures accounted for using the equity method 6.1 (10 889) (753) Valuation of the share-based payment programme 19.3 2 240 - Income tax paid (44 936) (17 941) Interest received 2 473 3 114 Working capital adjustments: Change in receivables (233 669) 37 750 Change in inventories (119 269) (493 462) Change in trade payables and other payables 102 940 253 737 Change in accruals, advances from the customers and prepayments 176 761 22 230 Change in the balance of cash paid to the restricted escrow developer’s accounts 28 822 32 285 Net cash flows from operating activities (12 630) (97 569) Cash flows from investing activities Purchase of property, plant and equipment and intangibles (1 385) (464) Proceeds from the sale of property, plant and equipment 289 5 086 Proceeds from the sale of investment properties and assets previously classified as held for sale - 12 381 Purchase of investment properties and costs incurred in connection with them 9 (2 618) (240 247) Loans granted to related parties - (10 000) Acquisition of shares in subsidiaries, net of cash acquired 20.4 (24 127) - Net cash flows from investing activities (27 841) (233 244) - Cash flows from financing activities Proceeds from issue of shares 19.3 73 797 - Repayment of lease liabilities 18.2 (15 818) (11 431) Proceeds from obtained bank loans 18.2 1 204 923 553 134 Repayment of bank loans 18.2 (1 045 239) (631 970) Proceeds from issuance of bonds 18.2 - 400 000 Buy-out of bonds 18.2 (88 200) (22 500) Proceeds from obtained loans from related parties - 66 718 Repayment of loans from related parties - (2 387) Interest and commissions paid 18.2 (29 514) (19 780) Cash received from the issuance of bills of exchange 18.2 - 30 000 Repayment of bills of exchange 18.2 (350) (500) Proceeds from SWAP settlements - 2 288 Net cash flows from financing activities 99 599 363 572 Net increase/(decrease) in cash and cash equivalents 59 128 32 759 Cash and cash equivalents at the beginning of the period 10 139 441 210 758 Cash and cash equivalents at the end of the period, including: 10 198 569 243 517 - restricted cash 10 43 834 2 710
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ROBYG S.A. GROUP Interim condensed consolidated financial statement for 6 months ended 30 June 2026 (in thousands of PLN) 6 Selected explanatory notes included on pages 7 to 42 are an integral part of these interim condensed consolidated financial statements. INTERIM CONDENSED CONSOLIDATED STATEMENT OF CHANGES IN EQUITY for 6 months ended 30 June 2026 (unaudited) Attributable to equity holders of the parent Non-controlling interest Total equity Note Share capital Share premium Reserve capital Capital contribution paid, not registered Retained earnings Total As at 1 January 2026 28 940 385 423 9 647 - 1 644 470 2 068 480 28 499 2 096 979 Net profit/(loss) for 6 months ended 30 June 2026 - - - - 102 529 102 529 1 852 104 381 Total comprehensive income for the period - - - - 102 529 102 529 1 852 104 381 Contributions for shares pending registration 19.3 - - - 73 797 - 73 797 - 73 797 Valuation of the share-based payment programme 19.3 - - 8 200 - - 8 200 - 8 200 Dividend payment - - - - - - (11 042) (11 042) As at 30 June 2026 28 940 385 423 17 847 73 797 1 746 999 2 253 006 19 309 2 272 315 for 6 months ended 30 June 2025 (unaudited, restated) Attributable to equity holders of the parent Non-controlling interest Total equity Note Share capital Share premium Reserve capital Retained earnings Total As at 1 January 2025 28 940 385 423 9 647 1 326 692 1 750 702 (2 873) 1 747 829 Net profit/(loss) for the 6 months ended 30 June 2025 (restated) - - - 82 158 82 158 (212) 81 946 Total comprehensive income for the period (restated) - - - 82 158 82 158 (212) 81 946 As at 30 June 2025 (restated) 28 940 385 423 9 647 1 408 850 1 832 860 (3 085) 1 829 775
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ROBYG S.A. GROUP Interim condensed consolidated financial statements for 6 months ended 30 June 2026 (in thousands of PLN) 7 SELECTED NOTES 1. GENERAL INFORMATION 1.1. Corporate information ROBYG S.A. Capital Group (the “Group”) comprises ROBYG S.A. (the “Parent Company ,” the “Company”) and its subsidiaries; in addition, the Group conducts its operations through investments in joint ventures. The financial data of subsidiaries are consolidated using the full consolidation method. In addition, the Group holds interests in joint ventures, which are accounted for using the equity method. The entities comprising the Group are listed in Note 1.3, and the Group’s joint ventures are listed in Note 1.4. The Group operates in the real estate development sector and is mainly involved in the construction and sale of residential units. Basic information about ROBYG S.A. is as follows: • ROBYG S.A. has its registered office in Poland, in Warsaw (02-972), at Al. Rzeczypospolitej 1. • ROBYG S.A. was established on the basis of the Articles of Association dated March 14, 2007 • ROBYG S.A. was entered in to the Register of Entrepreneurs kept by the District Court, XIII Economic Department of the National Court Register, Entry No. KRS 0000280398. • ROBYG S.A. was assigned the statistical identification number (REGON) 140900353. All entities comprising the Group are incorporated in Poland and conduct their operations therein. 1.2. Management Board and Supervisory Board As at 30 June 2026, the Management Board of ROBYG S.A. comprised the following persons: • Eyal Keltsh – President of the Management Board, • Artur Ceglarz – Vice-President of the Management Board, • Marta Hejak – Vice-President of the Management Board. On 12 June 2026 Dariusz Pawlukowicz resigned from his role as the Vice -President of the Company’s Management Board. As at 30 June 2026, the Supervisory Board of ROBYG S.A. comprised the following persons: • Oscar Kazanelson – Chairman of the Supervisory Board, • Martin Thiel – Vice-Chairman of the Supervisory Board, • Claudia Hoyer – Member of the Supervisory Board, • Dr Harboe Vaagt – Member of the Supervisory Board, • Przemysław Kurczewski – Member of the Supervisory Board, • Karolina Rzońca-Bajorek – Member of the Supervisory Board, • Krzysztof Kaczmarczyk – Member of the Supervisory Board. On 12 June 2026 Radosław Biedecki resigned from his position as the Member of the Company’s Supervisory Board. On 12 June 2026 the Company’s Extraordinary General Meeting of Shareholders appointed Karolina Rzońca-Bajorek and Krzysztof Kaczmarczyk as Members of the Company’s Supervisory Board for the term of office lasting until 31 December 2028. On 14 August 2026 Karolina Rzońca-Bajorek resigned from her position as the Member of the Company’s Supervisory Board, effective from 31 August 2026 end of business day.
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ROBYG S.A. GROUP Interim condensed consolidated financial statements for 6 months ended 30 June 2026 (in thousands of PLN) 8 1.3. Composition of the Group No. Company name Core activities % held by the Company (indirectly or directly) in share capital of an entity as at: 30 June 2026 31 December 2025 1. ROBYG S.A. Holding and financing activities. n/a n/a 2. ROBYG Development 1 Sp. z o.o. Holding activities. 100,00% 100,00% 3. ROBYG Development 1 Spółka z ograniczoną odpowiedzialnością Sp. k. Real estate development and sales of units on its own behalf. 100,00% 100,00% 4. ROBYG Development 2 Sp. z o.o. Real estate development and sales of units on its own behalf. 100,00% 100,00% 5. ROBYG Park Sp. z o.o. Real estate development and sales of units on its own behalf. 100,00% 100,00% 6. ROBYG Słoneczna Morena Spółka z ograniczoną odpowiedzialnością Sp. k. Real estate development and sales of units on its own behalf. 100,00% 100,00% 7. ROBYG City Apartments Sp. z o.o. Real estate development and sales of units on its own behalf. 100,00% 100,00% 8. ROBYG Marina Tower Sp. z o.o. Real estate development and sales of units on its own behalf. 100,00% 100,00% 9. ROBYG Osiedle Zdrowa 1 Sp. z o.o. (1) Holding activities. 100,00% 100,00% 10. ROBYG Osiedle Zdrowa Sp. z o.o. Real estate development and sales of units on its own behalf. 100,00% 100,00% 11. ROBYG Jabłoniowa Sp. z o.o. Real estate development and sales of units on its own behalf. 100,00% 100,00% 12. ROBYG Jabłoniowa 2 Sp. z o.o. Real estate development and sales of units on its own behalf. 100,00% 100,00% 13. ROBYG Marketing i Sprzedaż Sp. z o.o. Sales and marketing activities related to the sale of units built by the Group's companies, public relation activities of the Group. 100,00% 100,00% 14. ROBYG Księgowość Sp. z o.o. Accounting and administrative services. 100,00% 100,00% 15. ROBYG Construction Sp. z o.o. Construction and building activities. 100,00% 100,00% 16. ROBYG Residence Sp. z o.o. Real estate development and sales of units on its own behalf. 100,00% 100,00% 17. ROBYG Kameralna Sp. z o.o. Real estate development and sales of units on its own behalf. 100,00% 100,00% 18. P-Administracja Sp. z o.o. Real estate management services. 100,00% 100,00% 19. Wilanów Office Center Sp. z o.o. Real estate development and sales of units on its own behalf. 100,00% 100,00% 20. ROBYG Business Park Sp. z o.o. Real estate development and sales of units on its own behalf. 100,00% 100,00% 21. Jagodno Estates Sp. z o.o. Real estate development and sales of units on its own behalf. 100,00% 100,00% 22. ROBYG Morenova Sp. z o.o. Real estate development and sales of units on its own behalf. 100,00% 100,00% 23. OVERKAM 7 QUBE Sp. z o.o. Holding activities 100,00% 100,00% 24. ROBYG Zajezdnia Wrzeszcz Sp. z o.o. Real estate development and sales of units on its own behalf. 100,00% 100,00% 25. ROBYG Ursynów Sp. z o.o. Real estate development and sales of units on its own behalf. 100,00% 100,00% 26. OVERKAM 7 QUBE SPV 12 Sp. z o.o. Real estate development and sales of units on its own behalf. 100,00% 100,00% 27. ROBYG Praga Arte Sp. z o.o. Real estate development and sales of units on its own behalf. 100,00% 100,00% 28. ROBYG Property Sp. z o.o. Rental activities. 100,00% 100,00% 29. ROBYG Żoliborz Investment Sp. z o.o. (1) Real estate development and sales of units on its own behalf. 100,00% 100,00% 30. ROBYG Finance Spółka z ograniczoną odpowiedzialnością S.K.A. Financing activities. 100,00% 100,00% 31. ROBYG Finance Sp. z o.o. Holding activities 100,00% 100,00% 32. ROBYG Słoneczna Morena Sp. z o.o. Holding activities 100,00% 100,00% 33. ROBYG Stacja Nowy Ursus Sp. z o.o. Real estate development and sales of units on its own behalf. 100,00% 100,00% 34. ROBYG Praga Investment I Sp. z o.o. Real estate development and sales of units on its own behalf. 100,00% 100,00%
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ROBYG S.A. GROUP Interim condensed consolidated financial statements for 6 months ended 30 June 2026 (in thousands of PLN) 9 No. Company name Core activities % held by the Company (indirectly or directly) in share capital of an entity as at: 30 June 2026 31 December 2025 35. ROBYG Apartamenty Villa Nobile Sp. z o.o. (1) Real estate development and sales of units on its own behalf. 100,00% 100,00% 36. ROBYG Young City 2 Sp. z o.o. Real estate development and sales of units on its own behalf. 100,00% 100,00% 37. ROBYG Mokotów Investment Sp. z o.o. Real estate development and sales of units on its own behalf. 100,00% 100,00% 38. ROBYG Young City 3 Sp. z o.o. Real estate development and sales of units on its own behalf. 100,00% 100,00% 39. ROBYG Ogród Jelonki Sp. z o.o. (1) Holding activities. 100,00% 100,00% 40. ROBYG Osiedle Kameralne Sp. z o.o. Real estate development and sales of units on its own behalf. 100,00% 100,00% 41. ROBYG Project Management Sp. z o.o. Project management and supporting services. 100,00% 100,00% 42. ROBYG Wola Investment 2 Sp. z o.o. Real estate development and sales of units on its own behalf. 100,00% 100,00% 43. ROBYG Osiedle Życzliwe Sp. z o.o. Real estate development and sales of units on its own behalf. 100,00% 100,00% 44. Kuropatwy Park Sp. z o.o. Real estate development and sales of units on its own behalf. 100,00% 100,00% 45. GK ROBYG Sp. z o.o. Real estate development and sales of units on its own behalf. 100,00% 100,00% 46. ROBYG Wola Investment 3 Sp. z o.o. (1) Real estate development and sales of units on its own behalf. 100,00% 100,00% 47. ROBYG 24 Spółka z ograniczoną odpowiedzialnością Sp. k. Real estate development and sales of units on its own behalf. 100,00% 100,00% 48. PZT "Transbud” S.A. Real estate development and sales of units on its own behalf. 100,00% 100,00% 49. PZT "Transbud Service" Sp. z o.o. in liquidation (2) Repair and production services with regard to means of transportation and other equipment. - 100,00% 50. PZT "Transbud Trading - 3" Sp. z o.o. in liquidation (2) Real estate development and sales of units on its own behalf. - 100,00% 51. ROBYG 27 Sp. z o.o. Real estate development and sales of units on its own behalf. 100,00% 100,00% 52. ROBYG 18 Sp. z o.o. Real estate development and sales of units on its own behalf. 100,00% 100,00% 53. ROBYG Grobla Park Sp. z o.o. Real estate development and sales of units on its own behalf. 100,00% 100,00% 54. ROBYG Wola Investment Sp. z o.o. Real estate development and sales of units on its own behalf. 100,00% 100,00% 55. ROBYG 19 Sp. z o.o. Real estate development and sales of units on its own behalf. 100,00% 100,00% 56. ROBYG Working Balance Sp. z o.o. (1) Real estate development and sales of units on its own behalf. 100,00% 100,00% 57. ROBYG 21 Sp. z o.o. Real estate development and sales of units on its own behalf. 100,00% 100,00% 58. ROBYG 22 Sp. z o.o. Real estate development and sales of units on its own behalf. 100,00% 100,00% 59. Star Property Sp. z o.o. in liquidation (2) Real estate development and sales of units on its own behalf. - 100,00% 60. IGD Silesia Sp. z o.o. in liquidation (2) Real estate acquisition and sales on its own behalf. - 100,00% 61. 10/165 ROBYG Praga Investment I Spółka z ograniczoną odpowiedzialnością Sp. k. Real estate development and sales of units on its own behalf. 100,00% 100,00% 62. 9/151 ROBYG Praga Investment I Spółka z ograniczoną odpowiedzialnością Sp. k. Real estate development and sales of units on its own behalf. 100,00% 100,00% 63. 15/167 ROBYG Praga Investment I Spółka z ograniczoną odpowiedzialnością Sp. k. Real estate development and sales of units on its own behalf. 100,00% 100,00% 64. ROBYG Nowy Wrocław 1 Sp. z o.o. Real estate development and sales of units on its own behalf. 100,00% 100,00% 65. ROBYG Panorama Sp. z o.o. (formerly: ROBYG Nowy Wrocław 2 Sp. z o.o.) (3) Real estate development and sales of units on its own behalf. 100,00% 100,00% 66. ROBYG Zajezdnia Wrzeszcz 2 Sp. z o.o. Real estate development and sales of units on its own behalf. 100,00% 100,00%
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ROBYG S.A. GROUP Interim condensed consolidated financial statements for 6 months ended 30 June 2026 (in thousands of PLN) 10 No. Company name Core activities % held by the Company (indirectly or directly) in share capital of an entity as at: 30 June 2026 31 December 2025 67. ROBYG WEGA Development Sp. z o.o. Real estate development and sales of units on its own behalf. 100,00% 100,00% 68. ROBYG 23 Sp. z o.o. Real estate development and sales of units on its own behalf. 100,00% 100,00% 69. ROBYG 24 Sp. z o.o. Real estate development and sales of units on its own behalf. 100,00% 100,00% 70. TM Investment Holding Sp. z o.o. Real estate development and sales of units on its own behalf. 100,00% 100,00% 71. GYBOR Sp. z o.o. Real estate development and sales of units on its own behalf. 100,00% 100,00% 72. ROBYG 25 Sp. z o.o. Real estate development and sales of units on its own behalf. 100,00% 100,00% 73. ROBYG 26 Sp. z o.o. Real estate development and sales of units on its own behalf. 100,00% 100,00% 74. ROBYG 28 Sp. z o.o. Real estate development and sales of units on its own behalf. 51,00% 51,00% 75. ROBYG 29 Sp. z o.o. Real estate development and sales of units on its own behalf. 100,00% 100,00% 76. ROBYG 30 Sp. z o.o. Real estate development and sales of units on its own behalf. 100,00% 100,00% 77. ROBYG Piątkowo Sp. z o.o. Real estate development and sales of units on its own behalf. 100,00% 100,00% 78. ROBYG WPB Sp. z o.o. Real estate development and sales of units on its own behalf. 99,76% 99,76% 79. Królewski Park Sp. z o.o. Real estate development and sales of units on its own behalf. 100,00% 100,00% 80. ROBYG Young City 1 Sp. z o.o. Real estate development and sales of units on its own behalf. 100,00% 100,00% 81. ROBYG Osiedle Królewskie Sp. z o.o. (1) Real estate development and sales of units on its own behalf. 100,00% 100,00% 82. Przybrzeżna Sp. z o.o. Real estate development and sales of units on its own behalf. 100,00% 100,00% 83. MKO Investment Holding Sp. z o.o. Real estate development and sales of units on its own behalf. 100,00% 100,00% 84. KAJAR Investment Sp. z o.o. Real estate development and sales of units on its own behalf. 100,00% 100,00% 85. Apartamenty przy metrze Sp. z o.o. Real estate development and sales of units on its own behalf. 100,00% 100,00% 86. Krakowska Project Sp. z o.o. Real estate development and sales of units on its own behalf. 51,00% 51,00% 87. ROBYG Łódź Sp. z o.o. (formerly: NCHAR Sp. z o.o.) (4) Real estate development and sales of units on its own behalf. 100,00% 100,00% 88. ROBYG New Era Sp. z o.o. Real estate development and sales of units on its own behalf. 100,00% 100,00% 89. ROBYG Prestigious Residence Sp. z o.o. Real estate development and sales of units on its own behalf. 100,00% 100,00% 90. Zaspa Project Sp. z o.o. Real estate development and sales of units on its own behalf. 51,00% 51,00% 91. LF3 Sp. z o. o. (5) Real estate development and sales of units on its own behalf. 100,00% - (1) After the reporting date, ROBYG Osiedle Zdrowa 1 Sp. z o.o., ROBYG Żoliborz Investment Sp. z o.o., ROBYG Apartamenty Villa Nobile Sp. z o.o., ROBYG Ogród Jelonki Sp. z o.o., ROBYG Wola Investment 3 Sp. z o.o. , ROBYG Working Balance Sp. z o.o. and ROBYG Osiedle Królewskie Sp. z o.o. were merged. ROBYG Young City 1 Sp. z o.o. was the acquiring company. (2) The entity prepared and approved its liquidation financial statements in 4Q 2025. The entity was deregistered from the National Court Register in January 2026. (3) Change of the Entity’s name was registered on 31 October 2025 in the National Court Register. (4) Change of the Entity’s name was registered on 2 January 2026 in the National Court Register. (5) On 22 January 2026, the Company acquired 100% of the shares in LF3 Sp. z o.o. All entities forming the Group have an unlimited period of operation.
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ROBYG S.A. GROUP Interim condensed consolidated financial statements for 6 months ended 30 June 2026 (in thousands of PLN) 11 1.4. Joint ventures of the Group 2. APPROVAL AND BASIS FOR THE PREPARATION OF THE INTERIM CONDENSED CONSOLIDATED FINANCIAL STATEMENTS These interim condensed consolidated financial statements were authorised for publication by the Management Board on 29 September 2026. These interim condensed consolidated financial statements have been prepared in accordance with the historical cost principle, except for investment properties, which are measured at fair value. These interim condensed consolidated financial statements have been prepared on the assumption that the Group will continue as a going concern for the foreseeable future . As at the date of approval of th ese interim condensed consolidated financial statements, the Company’s Management Board has not identified any circumstances indicating a threat to the continued operations of the companies comprising the Group. These interim condensed consolidated financial statements are presented in Polish zlotys (“PLN”), and all amounts, unless otherwise stated, are rounded to the nearest thousand PLN (‘000 PLN). 2.1. Statement of compliance These interim condensed consolidated financial statements have been prepared in accordance with International Accounting Standard 34 “Interim Financial Reporting” as adopted by the European Union (IAS 34). As at the date of approval of these interim condensed consolidated financial statements for publication, in the light of the ongoing process of implementation of the IFRS by the EU, IFRS applicable to these interim condensed consolidated financial statements do not differ from the EU IFRS. The IFRS-EU include standards and interpretations approved by the International Accounting Standards Board (“IASB”) and the International Financial Reporting Interpretations Committee (“IFRIC”), endorsed by EU. Certain Group entities maintain their accounting records in accordance with the accounting policies (principles) set out in the Accounting Act of 29 September 1994 (“the Act”), as amended, and the regulations issued thereunder (“Polish accounting standards”). These interim condensed consolidated financial statements include adjustments not reflected in the accounting records of the Group entities, introduced to bring the financial information of these entities into conformity with the Group's accounting policies. In preparing these interim condensed consolidated financial statements certain information and disclosures which in accordance with the IFRSs adopted by the European Union are normally included in full financial statements, have been condensed or omitted purs uant to the provisions of IAS 34. Accordingly, these interim condensed consolidated financial statements should be read in conjunction with the Group’s Consolidated Financial Statements for the year ended 31 December 2025, authorised for issue on 3 March 2026. 2.2. Functional currency and presentation currency of the interim condensed consolidated financial statements The Polish zloty (PLN) is the Company’s functional currency and the presentation currency of these interim condensed consolidated financial statements. No. Company name Core activities % held by the Company (indirectly or directly) in share capital of an entity as at: 30 June 2026 31 December 2025 1. Inwestycja 2016 Sp. z o.o. Real estate development and sales of units on its own behalf. 50,00% 50,00% 2. Affane Sp. z o.o. Real estate development and sales of units on its own behalf. 50,00% 50,00% 3. ROBYG Mój Ursus Sp. z o.o. Real estate development and sales of units on its own behalf. 50,00% 50,00%
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ROBYG S.A. GROUP Interim condensed consolidated financial statements for 6 months ended 30 June 2026 (in thousands of PLN) 12 2.3. Restatement of comparative data The Group has changed the presentation of comparative data for the 6 months ended 30 June 2025, in order to comply with the changes introduced in the Group’s Consolidated Financial Statements for the year ended 31 December 2025, authorised for issue on 3 March 2026. The table below summarizes the impact of the changes on the interim condensed consolidated statement of comprehensive income, interim condensed consolidated statement of changes in equity and interim condensed consolidated statement of cash flows for the 6 months period ended 30 June 2025. Respective Notes to these Interim condensed consolidated financial statements have been restated accordingly in order to comply with the applied changes. The changes introduced concerned the following: 1) presentation in the interim condensed consolidated statement of comprehensive income of the net result on the sale of a commercial unit within in the line “Revaluation of investment properties to fair value, net” instead of “Sales revenues”, 2) recognition of the Group’s share in previously unrecognised losses from prior periods. The impact of the above on the interim condensed consolidated statement of comprehensive income and the interim condensed consolidated statement of changes in equity for the 6 month period ended 30 June 2025 amounted to PLN 3 087 thousand, 3) elimination of recognition of the Group’s share in the net losses incurred by joint ventures in the amount that previously caused the carrying amount of investment in the joint venture to fall below zero. After reducing the investment to zero, the Group does not create a provision, as it has no legal or constructive obligation to cover these losses, hence this amount has not been recognized as a “Liability. ” The impact of the above on the interim condensed consolidated statement of comprehensive income and the interim condensed consolidated statement of changes in equity for the 6 months period ended 30 June 2025 amounted to PLN 646 thousand, 4) adjusting the Group's previously recognized share in the joint venture's profits to include in the joint venture's financial result the cost of residential units sold in the 6 months period ended 30 June 2025, determined after adjusting inventories to fair value as at the date of obtaining joint control. The impact on the interim condensed consolidated statement of comprehensive income and the interim condensed consolidated statement of changes in equity for the 6 months period ended 30 June 2025 amounted to PLN 2 938 thousand, 5) presentation of payments made in relation to the perpetual usufruct right of land constituting a lease within the meaning of IFRS 16 as part of lease payments under financing activities in the interim condensed consolidated statement of cash flows. INTERIM CONDENSED CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME Published Change Restated 6 months ended 6 months ended 30 June 2025 30 June 2025 Sales revenues (1) 491 365 (4 944) 486 421 Revaluation of investment properties to fair value, net (1) 28 480 4 944 33 424 Post-tax share of the profit or loss of the joint ventures accounted for using the equity method (2), (3), (4) 6 132 (5 379) 753 Operating profit 105 900 (5 379) 100 521 Net profit for the period 87 325 (5 379) 81 946
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ROBYG S.A. GROUP Interim condensed consolidated financial statements for 6 months ended 30 June 2026 (in thousands of PLN) 13 INTERIM CONDENSED CONSOLIDATED STATEMENT OF CASH FLOWS Published Change Restated 6 months ended 6 months ended 30 June 2025 30 June 2025 Cash flows from operating activities Profit before tax 106 320 (5 379) 100 941 Adjustments for: Revaluation of investment properties to fair value, net (1) (28 480) (4 944) (33 424) (Profit)/loss on disposal and liquidation of non-current assets, investment properties and assets held for sale (1) (7 609) 4 944 (2 665) Post-tax share of the profit or loss of the joint ventures accounted for using the equity method (2), (3), (4) (6 132) 5 379 (753) Working capital adjustments: Change in inventories (5) (500 799) 7 337 (493 462) Net cash flows from operating activities (104 906) 7 337 (97 569) Cash flows from investing activities Purchase of investment properties and costs incurred in connection with them (5) (242 155) 1 908 (240 247) Net cash flows from investing activities (235 152) 1 908 (233 244) Cash flows from financing activities Repayment of lease liabilities (5) (2 186) (9 245) (11 431) Net cash flows from financing activities 372 817 (9 245) 363 572 Net increase/(decrease) in cash and cash equivalents 32 759 - 32 759 Cash and cash equivalents at the beginning of the period 210 758 - 210 758 Cash and cash equivalents at the end of the period, of which: 243 517 - 243 517 - restricted cash 2 710 - 2 710 INTERIM CONDENSED CONSOLIDATED STATEMENT OF CHANGES IN EQUITY Retained earnings Total Non-controlling interest Total equity As at 1 January 2025 1 326 692 1 750 702 (2 873) 1 747 829 Net profit for the 6 months ended 30 June 2025 (published) 87 537 87 537 (212) 87 325 Net profit for the 6 months ended 30 June 2025 (change) (2), (3), (4) (5 379) (5 379) - (5 379) Other comprehensive income - - - - Total comprehensive income for the period (restated) 82 158 82 158 (212) 81 946 As at 30 June 2025 (restated) 1 408 850 1 832 860 (3 085) 1 829 775
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ROBYG S.A. GROUP Interim condensed consolidated financial statements for 6 months ended 30 June 2026 (in thousands of PLN) 14 3. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES The accounting policies adopted in the preparation of these interim condensed consolidated financial statements are consistent with the accounting policies described in the Group’s most recent full consolidated financial statements prepared in accordance with IFRS for the year ended 31 December 2025 , with the exception of the following amendments to IFRS adopted in these interim condensed consolidated financial statements from 1 January 2026: • Amendments to IFRS 9 and Amendments to IFRS 7 regarding the classification and measurement of financial instruments; • Amendments to IFRS 9 and IFRS 7 Contracts Referencing Nature-dependent Electricity; • Annual Improvements to IFRS Standards – Volume 11: relating to IFRS 1, IFRS 7, IFRS 9, IFRS 10 and IAS 7, aimed at introducing minor clarifications and corrections. The application of the above amendments did not have a material impact on th ese interim condensed consolidated financial statements. 3.1. New standards and interpretations not yet effective The following standards and amendments to standards have been issued by the International Accounting Standards Board or the International Financial Reporting Interpretations Committee, but are neither effective nor endorsed by the EU as at the date of preparation of these interim condensed consolidated financial statements: • IFRS 19 Subsidiaries without Public Accountability: Disclosures – effective for annual periods beginning on or after 1 January 2027; • IFRS 20 Regulatory Assets and Regulatory Liabilities - effective for annual periods beginning on or after 1 January 2029; • Amendments to IFRS 19 Subsidiaries without Public Accountability: Disclosures – effective for annual periods beginning on or after 1 January 2027; • Amendments to IAS 28 Investments in Associates and Joint Ventures: Fair Value Option for Investments in Associates and Joint Ventures – effective for annual periods beginning on or after 1 January 2027; • Amendments to IAS 21 The Effects of Changes in Foreign Exchange Rates: Translation to a Hyperinflationary Presentation Currency – effective for annual periods beginning on or after 1 January 2027. The following standards have been adopted by the International Accounting Standards Board or the International Financial Reporting Interpretations Committee, but are not effective as at the date of preparation of these interim condensed consolidated financial statements: • IFRS 18 Presentation and Disclosures in Financial Statements – effective for annual periods beginning on or after 1 January 2027. The Management Board is in the process of assessing the impact of the aforementioned standards and amendments on the interim condensed consolidated financial statements in the period of their application. The results of this assessment will depend on further, more detailed analysis of the provisions of the standards, clarifications, and additional interpretations issued by the International Accounting Standards Board. The Group has not early adopted any other standards, interpretations or amendments that have been issued but are not yet effective. 4. SEASONALITY OF OPERATIONS The Group’s operations are not seasonal in nature and, as a result, the Group’s financial results presented here are not subject to significant fluctuations between individual interim reporting periods.
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ROBYG S.A. GROUP Interim condensed consolidated financial statements for 6 months ended 30 June 2026 (in thousands of PLN) 15 5. SEGMENT INFORMATION The Group’s current activities are mostly homogenous and focus primarily on development and sales of residential and commercial units and related supporting activities. They are, however, carried out in different cities in Poland (Warsaw, Tricity, Wrocław, Poznań and Łódź). The Group identified the following operating and reportable segments based on geographical location which are further divided into subsidiaries and joint ventures, the Group has identified the following operating segments, which also constitute reportable segments: • Warsaw segment, • Tricity segment, • Wrocław segment, • Poznań segment, • Łódź segment. The Parent Company operates within a single operating segment (namely, holding activities). The Group evaluates the performance of individual segments based on sales revenue and gross profit on sales generated by each segment. Assets and liabilities are not monitored or reported at the level of individual operating segments; therefore, the Group does not present information on assets and liabilities broken down by reportable segments. All non-current assets of the Group are located in Poland. The segment reporting method ology differs from IFRS in respect of the presentation of activities carried out by joint ventures. Segment reporting regarding joint ventures over which the Group exercises joint control is recognised using the proportionate consolidation method, whereas under IFRS, such joint ventures should be accounted for using the equity method. Compared with the last annual financial statements, there have been no changes in the basis of segmentation or the basis of measurement of segment profit or loss. The table below presents segment information about each reportable segment and a reconciliation between segment reporting and gross profit on sales as presented in the interim condensed consolidated statement of comprehensive income prepared in accordance with IFRS. There are no inter-segment sales revenues.
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ROBYG S.A. GROUP Interim condensed consolidated financial statements for 6 months ended 30 June 2026 (in thousands of PLN) 16 6 months ended 30 June 2026 (unaudited) Operating segments Total operations Reconciliation to IFRS Total IFRS Warsaw – subsidiaries Warsaw – joint ventures Tricity – subsidiaries Tricity – joint ventures Wrocław – subsidiaries Poznań – subsidiaries Łódź – subsidiaries Sales revenue to non-related parties, including: 207 377 44 466 76 291 - 63 057 39 964 1 431 156 (44 466) 386 690 Revenue from the sale of residential and commercial units 202 107 44 466 76 183 - 62 798 39 963 - 425 517 (44 466) 381 051 Sales revenue to related parties 338 815 - - - - - - 338 815 - 338 815 Revenues from the rental of investment properties and other properties 287 - 149 1 255 391 975 - 3 057 (1 255) 1 802 Total sales revenue 546 479 44 466 76 440 1 255 63 448 40 939 1 773 028 (45 721) 727 307 Cost of sales, including: 462 976 30 153 60 728 945 50 447 28 144 13 633 406 (31 098) 602 308 Cost of residential and commercial units sold 137 706 30 153 59 367 - 50 197 27 221 - 304 644 (30 153) 274 491 Gross profit on sales 83 503 14 313 15 712 310 13 001 12 795 (12) 139 622 (14 623) 124 999 Other income 1 009 Revaluation of investment properties to fair value, net 45 889 Selling and marketing expenses (21 402) Administrative expenses (35 177) Other expenses (1 243) Gain on loss of control resulting from contribution to joint ventures 2 008 Post-tax share of the profit or loss of the joint ventures accounted for using the equity method 10 889 Operating profit 126 972
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ROBYG S.A. GROUP Interim condensed consolidated financial statements for 6 months ended 30 June 2026 (in thousands of PLN) 17 3 months ended 30 June 2026 (unaudited, not reviewed) Operating segments Total operations Reconciliation to IFRS Total IFRS Warsaw – subsidiaries Warsaw – joint ventures Tricity – subsidiaries Tricity – joint ventures Wrocław – subsidiaries Poznań – subsidiaries Łódź – subsidiaries Sales revenue to non-related parties, including: 79 078 34 971 47 273 - 47 991 6 108 1 215 422 (34 971) 180 451 Revenue from the sale of residential and commercial units 76 234 34 971 47 166 - 47 743 6 108 - 212 222 (34 971) 177 251 Sales revenue to related parties 229 920 - - - - - - 229 920 - 229 920 Revenues from the rental of investment properties and other properties 135 - 16 616 228 487 - 1 482 (616) 866 Total sales revenue 309 133 34 971 47 289 616 48 219 6 595 1 446 824 (35 587) 411 237 Cost of sales, including: 272 139 23 239 39 790 444 38 690 4 829 13 379 144 (23 683) 355 461 Cost of residential and commercial units sold 52 835 23 421 39 584 - 38 598 4 208 - 158 646 (23 421) 135 225 Gross profit on sales 36 994 11 732 7 499 172 9 529 1 766 (12) 67 680 (11 904) 55 776 Other income 331 Revaluation of investment properties to fair value, net 45 889 Selling and marketing expenses (11 735) Administrative expenses (17 986) Other expenses (1 038) Gain on loss of control resulting from contribution to joint ventures 1 630 Post-tax share of the profit or loss of the joint ventures accounted for using the equity method 8 941 Operating profit 81 808
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ROBYG S.A. GROUP Interim condensed consolidated financial statements for 6 months ended 30 June 2026 (in thousands of PLN) 18 6 months ended 30 June 2025 (unaudited) Operating segments Total operations Reconciliation to IFRS Total IFRS Warsaw – subsidiaries Warsaw – joint ventures Tricity – subsidiaries Tricity – joint ventures Wrocław – subsidiaries Poznań – subsidiaries Łódź – subsidiaries Sales revenue to non-related parties, including: 194 976 36 365 105 697 - 6 958 6 089 - 350 085 (36 365) 313 720 Revenue from the sale of residential and commercial units 190 943 36 365 105 473 - 6 956 6 087 - 345 824 (36 365) 309 459 Sales revenue to related parties 158 310 - 10 338 - - - 639 169 287 - 169 287 Revenues from the rental of investment properties and other properties 1 351 - 965 1 019 130 968 - 4 433 (1 019) 3 414 Total sales revenue 354 637 36 365 117 000 1 019 7 088 7 057 639 523 805 (37 384) 486 421 Cost of sales, including: 276 102 29 093 87 367 590 6 275 4 084 639 404 150 (29 683) 374 467 Cost of residential and commercial units sold 122 168 28 322 79 975 - 5 961 3 915 - 240 341 (28 322) 212 019 Gross profit on sales 78 535 7 272 29 633 429 813 2 973 - 119 655 (7 701) 111 954 Other income 3 861 Revaluation of investment properties to fair value, net 33 424 Selling and marketing expenses (16 136) Administrative expenses (32 564) Other expenses (771) Post-tax share of the profit or loss of the joint ventures accounted for using the equity method 753 Operating profit 100 521
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ROBYG S.A. GROUP Interim condensed consolidated financial statements for 6 months ended 30 June 2026 (in thousands of PLN) 19 3 months ended 30 June 2025 (unaudited, not reviewed) Operating segments Total operations Reconciliation to IFRS Total IFRS Warsaw – subsidiaries Warsaw – joint ventures Tricity – subsidiaries Tricity – joint ventures Wrocław – subsidiaries Poznań – subsidiaries Łódź – subsidiaries Sales revenue to non-related parties, including: 135 334 14 757 69 041 - 5 410 2 312 - 226 854 (14 757) 212 097 Revenue from the sale of residential and commercial units 133 195 14 757 68 818 - 5 409 2 312 - 224 491 (14 757) 209 734 Sales revenue to related parties 89 744 - 10 338 - - - 639 100 721 - 100 721 Revenues from the rental of investment properties and other properties 708 - 435 508 52 506 - 2 209 (508) 1 701 Total sales revenue 225 786 14 757 79 814 508 5 462 2 818 639 329 784 (15 265) 314 519 Cost of sales, including: 171 032 10 203 60 362 285 4 996 1 366 639 248 883 (10 488) 238 395 Cost of residential and commercial units sold 84 467 9 725 53 794 - 4 851 1 322 - 154 159 (9 725) 144 434 Gross profit on sales 54 754 4 554 19 452 223 466 1 452 - 80 901 (4 777) 76 124 Other income 239 Revaluation of investment properties to fair value, net 28 480 Selling and marketing expenses (8 532) Administrative expenses (15 314) Other expenses (478) Gain on loss of control resulting from contribution to joint ventures - Post-tax share of the profit or loss of the joint ventures accounted for using the equity method 1 707 Operating profit 82 226
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ROBYG S.A. GROUP Interim condensed consolidated financial statements for 6 months ended 30 June 2026 (in thousands of PLN) 20 6. INVESTMENTS IN JOINT VENTURES ACCOUNTED FOR USING THE EQUITY METHOD 6.1. Changes in investments in joint ventures accounted for using the equity method Changes in investments in joint ventures in the period from 1 January 2026 to 30 June 2026 were as follows: 6 months ended 30 June 2026 (unaudited) Opening balance as at 1 January 2026 37 326 The Group’s post-tax share of the profit or loss of the joint ventures accounted for using the equity method 10 889 Closing balance as at 30 June 2026 48 215 Changes in investments in joint ventures in the period from 1 January 2025 to 31 December 2025 were as follows: Year ended 31 December 2025 Opening balance as at 1 January 2025 34 123 The Group’s post-tax share of the profit or loss of the joint ventures accounted for using the equity method 10 531 Settlement of the Group’s share in previously unrecognised share of losses from prior years (7 637) Conversion of loan into equity – Affane Sp. z o.o. 5 131 Acquisition of control over Zaspa Project Sp. z o.o. (4 822) Closing balance as at 31 December 2025 37 326
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ROBYG S.A. GROUP Interim condensed consolidated financial statements for 6 months ended 30 June 2026 (in thousands of PLN) 21 6.2. Condensed financial information The condensed financial information regarding the Group’s joint ventures as at 30 June 2026 and for the period of 6 months ended 30 June 2026 is presented in the table below: Inwestycja 2016 Sp. z o.o. ROBYG Mój Ursus Sp. z o.o. Affane Sp. z o.o. (project in Warsaw) (project in Warsaw) (project in Gdynia) Selected financial information from the statement of financial position Total current assets, including: 256 186 74 352 182 472 Inventories 204 671 - 172 061 Cash and cash equivalents 28 354 1 276 4 946 Individual escrow accounts 16 481 131 2 954 Other short-term financial assets - 69 614 5 Total non-current assets, including: - - 2 106 Long-term investments - - 50 Deferred tax assets - - 2 056 Total assets 256 186 74 352 184 578 Total current liabilities, including: 94 965 13 54 659 Advances from customers 79 459 - 43 840 Interest-bearing loans - - - Total non-current liabilities, including: 132 158 - 128 051 Interest-bearing loans from related parties 121 193 - 120 391 Interest-bearing bank loans 10 374 - 7 660 Deferred income tax liability 3 666 685 - Accrued expenses and deferred income 9 760 1 250 30 Total liabilities 240 549 1 948 182 740 Net assets 15 637 72 404 1 838 Group’s share of net assets (%) 50% 50% 50% Group’s share of net assets 7 819 36 202 919 Consolidation adjustments 2 855 380 40 Carrying amount of the Group’s share in the joint venture 10 674 36 582 959 Inwestycja 2016 Sp. z o.o. (project in Warsaw) ROBYG Mój Ursus Sp. z o.o. (project in Warsaw) Affane Sp. z o.o. (project in Gdynia) Selected financial information from the statement of comprehensive income Sales of residential and commercial units 86 506 2 426 - Rental income - - 2 509 Cost of sales (58 093) (2 212) (1 889) Administrative and selling expenses (3 275) (133) (2 031) Net interest income / (expenses) 293 2 561 77 Income tax (4 851) (504) 257 Net profit / (loss) / Total comprehensive income 20 722 2 146 (1 091) The Group’s share of profits/(losses) (%) 50% 50% 50% The Group’s share of profits/(losses) 10 361 1 073 (545) Recognition of the Group's share of previously unrecognised losses from prior years - - - The Group’s share of profits/(losses) using the equity method recognised in the Group’s statement of comprehensive income 10 361 1 073 (545)
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ROBYG S.A. GROUP Interim condensed consolidated financial statements for 6 months ended 30 June 2026 (in thousands of PLN) 22 Condensed financial information regarding the Group’s joint ventures as at 31 December 2025 and for the 6-month period ended 30 June 2025 are presented in the table below: Inwestycja 2016 Sp. z o.o. (project in Warsaw) ROBYG Mój Ursus Sp. z o.o. (project in Warsaw) Affane Sp. z o.o. (project in Gdynia) Selected financial information from the statement of financial position Total current assets, including: 252 503 75 627 148 432 Inventories 212 663 1 879 142 783 Cash and cash equivalents 25 499 561 3 974 Individual escrow accounts 10 478 141 792 Deferred tax assets 1 184 - 1 968 Total assets 253 687 75 627 150 400 Total current liabilities, including: 90 305 1 598 30 487 Advances from customers 69 552 10 26 619 Total non-current liabilities, including: 167 381 - 116 774 Interest-bearing loans from related parties 117 400 - 116 774 Deferred income tax liability - 2 673 - Accrued expenses and deferred income 1 086 1 098 110 Total liabilities 258 772 5 369 147 371 Net assets (5 085) 70 258 3 029 Group’s share of net assets (%) 50% 50% 50% Group’s share of net assets (2 542) 35 129 1 515 Consolidation adjustments 2 855 380 (11) Carrying amount of the Group’s share in the joint venture 313 35 509 1 504 Inwestycja 2016 Sp. z o.o. (project in Warsaw) ROBYG Mój Ursus Sp. z o.o. (project in Warsaw) Affane Sp. z o.o. (project in Gdynia) Zaspa Project Sp. z o.o. (project in Gdańsk) Selected financial information from the statement of comprehensive income Sales of residential and commercial units - 72 778 - - Rental income - - 2 038 - Cost of sales - (64 111) (1 179) - Administrative and selling expenses (1 852) (183) (1 056) (18) Net interest income/(expenses) 259 2 072 118 41 Income tax 301 (2 916) 15 (21) Net profit (loss) / Total comprehensive income (1 292) 7 653 (64) 90 The Group’s share of profits/(losses) (%) 50% 50% 50% 50% The Group’s share of profits/(losses) (646) 3 827 (32) 45 Recognition of the Group's share of previously unrecognised losses from prior years 646 - (3 087) - The Group’s share of profits/(losses) using the equity method recognised in the Group’s statement of comprehensive income - 3 827 (3 119) 45 As at 30 June 2026 and 31 December 2025, in connection with the execution of credit facility agreements, security arrangements were in place, including, in particular, powers of attorney to establish mortgage security over land owned by the joint ventures, pledges over selected assets, security interests over bank accounts, assignments of receivables, and subordination agreements in respect of receivables. The operations of all joint ventures are continued. The financial statements of all joint ventures are prepared as at the same reporting date as the Group's financial statements.
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ROBYG S.A. GROUP Interim condensed consolidated financial statements for 6 months ended 30 June 2026 (in thousands of PLN) 23 7. NOTES TO THE INTERIM CONDENSED CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME 7.1. Revenue by type and timing of recognition 7.1.1. Revenue by type 6 months ended 30 June 2026 (unaudited) 3 months ended 30 June 2026 (unaudited, not reviewed) 6 months ended 30 June 2025 (unaudited) 3 months ended 30 June 2025 (unaudited, not reviewed) Sales of residential and commercial units 381 051 177 251 309 459 209 734 Revenue from general contracting services provided to related parties (Vantage Development S.A. Group) (details in Note 17) 152 586 72 596 76 268 45 538 Revenue from other services provided to related parties (Vantage Development S.A. Group) (details in Note 17) 7 877 5 687 6 638 3 522 Revenue from general contracting services and other services provided to related parties (joint ventures) (details in Note 17) 61 747 35 032 75 404 40 684 Revenue from the sale of land to non-related parties 215 215 - - Revenue from the sale of land and capital expenditures on land to related parties (Vantage Development S.A. Group) (details in Notes 17 and 20.5) 116 605 116 605 10 977 10 977 Rental income from investment properties and other properties 1 802 866 3 414 1 701 Other revenue from non-related parties 5 424 2 985 4 261 2 363 Total sales revenue 727 307 411 237 486 421 314 519 7.1.2. Revenue by timing of recognition Revenue generated by the Group, in particular revenue from the sale of residential and commercial units as well as revenue from the sale of land and capital expenditures , is recognised at a specific point in time. Only revenue from services provided to related parties and rental income from investment properties and other properties is recognised over time. 7.2. Revenue and operating segments The Group’s operating segments have been identified in accordance with IFRS 8 on the basis of geographical location (Warsaw, Tricity, Wrocław, Poznań and Łódź segments). Revenue from the sale of residential and commercial units, services and rental activities is allocated to individual geographical segments in accordance with the location of the projects and properties. Detailed quantitative information relating to: - revenue by geographical segment, - a breakdown of revenue between related and non-related parties, - rental income, are presented in Note 5. 7.3. Cost of sales 6 months ended 30 June 2026 (unaudited) 3 months ended 30 June 2026 (unaudited, not reviewed) 6 months ended 30 June 2025 (unaudited) 3 months ended 30 June 2025 (unaudited, not reviewed) Cost of residential and commercial units sold (274 491) (135 225) (212 019) (144 434) Cost of general contracting services provided to related parties (Vantage Development S.A. Group) (148 353) (70 562) (74 222) (44 383) Cost of other services provided to related parties (Vantage Development S.A. Group) (5 177) (4 095) (3 211) (1 475) Cost of general contracting services and other services provided to related parties (joint ventures) (55 729) (31 526) (70 565) (38 618) Cost of land and capital expenditures on land sold to related parties (Vantage Development S.A. Group) (details in Note 17 ) (111 800) (111 800) (6 601) (6 601) Cost of rental operations of investment properties and other properties (380) (24) (751) (316) Other costs (6 378) (2 229) (7 098) (2 568) Total cost of sales (602 308) (355 461) (374 467) (238 395)
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ROBYG S.A. GROUP Interim condensed consolidated financial statements for 6 months ended 30 June 2026 (in thousands of PLN) 24 7.4. Reconciliation of the effective income tax rate 6 months ended 30 June 2026 (unaudited) 3 months ended 30 June 2026 (unaudited, not reviewed) 6 months ended 30 June 2025 (unaudited) 3 months ended 30 June 2025 (unaudited, not reviewed) Profit before tax 127 505 81 829 100 941 81 002 At statutory income tax rate of 19% (2025: 19%) (24 226) (15 548) (19 179) (15 390) Permanent differences arising from the acquisition of a group of assets that does not constitute a business combination (647) (191) 773 778 Other non-taxable income/(costs) (805) (443) (766) (307) Post-tax share of the profit or loss of the joint ventures accounted for using the equity method 2 554 2 097 177 400 At the effective income tax rate of 18,1% and 17,2% (2025: 18,8% and 17,9%) (23 124) (14 085) (18 995) (14 519) Income tax expense reported in the consolidated statement of comprehensive income (23 124) (14 085) (18 995) (14 519) 8. INVENTORIES 30 June 2026 (unaudited) 31 December 2025 Land purchased for construction purposes 902 225 1 039 086 Work in progress 1 545 810 1 132 045 Finished goods 173 535 283 079 Advance payments for construction services 14 781 12 155 Total inventories, at the lower of cost or net realisable value 2 636 351 2 466 365 In the period of 6 months ended 30 June 2026 and in the year ended 31 December 2025, the Group did not recognise or reverse any impairment losses or write-downs to net realisable value in respect of inventories. The Group classifies inventories as current assets, as it expects to realise them within its normal operating cycle. The Group capitalises a portion of external financing costs directly attributable to the acquisition and construction of assets recognised as inventories. In the 6 month s period ended 30 June 2026 , the amount of borrowing costs capitalised to inventories amounted to PLN 24 726 thousand (in the 6 months period ended 30 June 2025: PLN 18 387 thousand).
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ROBYG S.A. GROUP Interim condensed consolidated financial statements for 6 months ended 30 June 2026 (in thousands of PLN) 25 9. INVESTMENT PROPERTIES 9.1. Changes in investment properties 2026 (unaudited) 2025 (unaudited) Opening balance as at 1 January 902 635 680 224 Revaluation of investment property to fair value, net (1) 45 692 25 915 Acquisition of investment properties (2) 445 239 858 Transfer to inventories (3) (28 600) (77 611) Additional costs incurred during the period 10 830 2 297 Application of IFRS 16 (Perpetual usufruct right of land) (4) 33 662 16 591 Closing balance as at 30 June 964 664 887 274 Investment properties 891 428 851 545 Impact of the application of IFRS 16 (Perpetual usufruct right of land) 73 236 35 729 (1) The total value of investment properties as at 30 June 2026 , and as at 30 June 2025 , was classified as Level 3 of the fair value hierarchy in accordance with IFRS 13 Fair Value Measurement. In the period of 6 months ended 30 June 2026 (as well as in the period of 6 m onths ended 30 June 2025), there were no transfers between levels of fai r value hierarchy as of reclassification of investment properties to particular levels. Profit from the revaluation presented in the interim condensed consolidated statement of comprehensive income in the amount of PLN 4 5 889 thousand comprises of the profit from the revaluation of investment properties in the amount of PLN 45 692 thousand an d the profit from the revaluation of assets held for sale in the amount of PLN 197 thousand (details in Note 22) . Profit from the revaluation presented in the interim condensed consolidated statement of comprehensive income in the amount of PLN 45 889 thousand includes revaluation to the selling prices of land plots intended for sale to Vantage Development in the amount of PLN 27 315 thousand. (2) In the period of 6 months ended 30 June 2026, the Group signed an agreement for the acquisition of land classified as investm ent properties with a value of PLN 445 thousand (PLN 239 858 thousand for the period of 6 months ended 30 June 2025) (details in Note 20.3). (3) In the period of 6 months ended 30 June 2026 , and in the period of 6 months ended 30 June 2025, the Group has commenced the development of residential projects on land previously accounted for as an investment propert y. (4) The change comprises an increase relating to newly acquired land and the revaluation of perpetual usufruct fees, as well as a decrease resulting from the reclassification of land from investment propert ies to inventories. Changes arising from the measurement of investment properties at fair value are recognised in the interim condensed consolidated statement of comprehensive income under “Revaluation of investment properties to fair value, net.” 9.2 Basis of valuation and valuation methods The fair value of investment properties is determined twice a year, i.e. as at June 30 and December 31, in accordance with IFRS 13 “Fair Value Measurement”. For all material investment property items valuations are performed by external independent valuati on specialists using appropriate valuation methods that reflect the nature and intended use of individual properties. Immaterial investment properties are measured internally – items valued internally have been specifically indicated in the table below. Valuation methods applied Residual method The residual method applied by the Group constitutes a type of the market approach within the meaning of IFRS 13 and is used primarily for the valuation of investment land intended for development. The value of a property is determined as the difference be tween the expected market value of the project upon completion and the estimated development costs and the investor’s expected margin. Comparable transactions method The comparable transactions method involves determining the fair value of a property on the assumption that such value corresponds to the prices achieved for similar properties that have been traded on the market. The value of the property is adjusted to reflect the characteristics that differentiate it from comparable properties and takes into account changes in price levels resulting from the passage of time. The market approach is applied where prices of properties comparable to the property being valued are available. Under the paired comparison method, the property being valued, with known characteristics, is compared sequentially with at least three similar properties with known transaction prices and characteristics. The value is determined by adjusti ng the transaction prices to reflect differences in the characteristics of the property being valued and the comparable properties (including, among others, location, surrounding area, development constraints, land area / planned development area, planning status, etc.). Ultimately, the value of the property is determined as the product of the land area or the usable residential and commercial floor area (PUMiU) and the average price derived from the adjusted transaction prices.
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ROBYG S.A. GROUP Interim condensed consolidated financial statements for 6 months ended 30 June 2026 (in thousands of PLN) 26 The description of the valuation methods and the key input data used for the valuation of investment properties to fair value are presented below (impact of IFRS 16 application for perpetual usufruct right of land was not reflected): Investment property Valuation method (5) Fair value as at Gain / (loss) on revaluation of investment properties for the period ended: 30 June 2026 31 December 2025 30 June 2026 30 June 2025 Land property in Gdańsk (Śródmieście district) Comparable transactions method 70 100 63 742 6 358 5 939 Land property in Warsaw (Bemowo district) Comparable transactions method / Internal valuation 1 438 1 438 - - Land property in Poznań (Ostrów Tumski district) Residual method / Comparable transactions method 184 995 184 553 442 10 207 Land property in Poznań (Piątkowo district) (1) Comparable transactions method 26 600 53 800 1 400 3 946 Land property in Warsaw (Wilanów district) Comparable transactions method 257 500 246 700 2 291 - Land property in Warsaw (Włochy district) Comparable transactions method 86 382 59 500 26 882 2 800 Land property in Poznań (Nowe Miasto district) Comparable transactions method 30 700 30 001 699 1 740 Land property in Warsaw (Ochota district) Comparable transactions method 199 999 192 100 7 168 - Land property in Gdańsk (Oliwa district) (2) Comparable transactions method 30 882 28 728 119 1 283 Rental units Comparable transactions method / Internal valuation 2 832 2 499 333 - Land property in Gdańsk (Oliwa district) (3) – held for sale Comparable transactions method 52 818 49 472 197 2 565 Rental property in Warsaw (Białołęka) (4) - held for sale Comparable transactions method / Internal valuation - - - 4 944 Total 944 246 912 533 45 889 33 424 Total investment properties 891 428 863 061 45 692 25 915 Total assets classified as held for sale 52 818 49 472 197 7 509 (1) In the period of 6 months ended 30 June 2026, the Group has continued the development of a residential project on land previously accounted for as an investment property (the value of land transferred to inventor y amounted to PLN 28 600 thousand in the period of 6 months ended 30 June 2026 and PLN 7 770 thousand in the year ended December 31, 2025 ). (2) In the period of 6 months ended 30 June 2026, the Group signed an agreement for the acquisition of land classified as investm ent properties with a value of PLN 445 thousand (details in Note 20.3). (3) The transaction involving the sale of the land located in Gdańsk (Oliwa district) has not yet been finalized due to prolonged completion of activities related to the sale process. The Group plans to finalise the sale of this land during 2026 (details in No te 22). (4) In the year ended December 3 1 2024, one unit was transferred to assets held for sale. The sale transaction was finalized in the year ended December 31, 2025. (5) The valuation methods applied to individual properties are consistent across reporting periods . In the period of 6 months ended 30 June 2026 and for the year ended 31 December 2025, the valuation of part of the land property located in Poznań, in the Ostrów Tumski district, was carried out using two methods: the residual method was applied to one part of the land, while the comparative method was applied to the o ther part. In the period of 6 months ended 30 June 2025 the valuation of the entire land was conducted e xclusively using the residual method. In the period of 6 months ended 30 June 2026, the valuation of the land property located in Gdańsk, in the Śródmieście district, was conducted using the comparable method. In the period of 6 months ended 30 June 2025, and for the year ended 31 December 2025, the valuation of the land was conducted using the residual method. Rental income from investment properties and other properties in the period of 6 months ended 30 June 2026, amounted to PLN 1 802 thousand (PLN 3 414 thousand in the period of 6 months ended 30 June 2025). 9.3 Data used for fair value measurement The data used in the fair value measurement process includes both observable and unobservable data. Observable data Observable data used in the valuation process include, in particular: - information on transactions concluded in the active real estate market, - planning and legal conditions,
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ROBYG S.A. GROUP Interim condensed consolidated financial statements for 6 months ended 30 June 2026 (in thousands of PLN) 27 - general market and macroeconomic conditions. Unobservable data Significant unobservable data used in the fair value measurement of investment properties are presented below: Residual method: - average selling prices of residential and commercial units upon the completion of the project (PLN/m²), - construction, infrastructure, and architectural design costs (PLN/m²), - discount rate (%). Comparable transaction method: - average price based on adjusted transaction prices (PLN/m²), The description of the selected significant unobservable input data for the valuation purposes at each reporting date is presented below: June 30, 2026: Valuation method Significant unobservable input data Values Residual method Average selling prices (1) Construction, infrastructure, and architectural design costs (1) Discount rate (1) 14 541 PLN/sqm 8 250 PLN/sqm 7,90% Comparable transactions method Average price based on adjusted transaction prices 1 489 – 9 393 PLN/sqm (1) Based on the independent valuations and Group’s budget assumptions 31 December 2025: Valuation method Significant unobservable input data Values Residual method Average selling prices (1) Construction, infrastructure, and architectural design costs (1) Investor's margin (1) 13 832 – 16 847 PLN/m2 7 625 – 7 800 PLN/m2 7,75% - 7,90% Comparable transactions method Average price based on adjusted transaction prices 1 454 – 7 246 PLN/m2 (1) Based on the independent valuations and Group’s budget assumptions 9.4 Sensitivity analysis The fair value of investment properties is particularly sensitive to changes in significant unobservable inputs, in particular: - average selling prices of residential and commercial units upon the completion of the project, - construction costs, - discount rate. Changes in the above parameters could result in a material increase or decrease in the fair value of investment properties. There are interdependencies among the adopted unobservable inputs, which may either enhance or mitigate the impact of changes in individual assumptions on the fair value measurement. The table below presents the impact of changes in unobservable inputs on fair values of investment properties measured using the residual method as at 30 June 2026 and 31 December 2025: Average selling prices (change in value) Construction costs (change in value) Discount rate (change in value) -5% +5% -5% +5% - 25 pb. + 25 pb. 30 June 2026 (40 600) 40 600 28 900 (28 900) 7 800 (7 800) 31 December 2025 (48 400) 48 400 33 800 (33 800) 8 800 (8 800)
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ROBYG S.A. GROUP Interim condensed consolidated financial statements for 6 months ended 30 June 2026 (in thousands of PLN) 28 The table below presents impact of changes in unobservable inputs on fair value of investment properties valued using the comparable transactions method as at 30 June 2026 and 31 December 2025: Average price change (change in value) -5% +5% 30 June 2026 (40 539) 40 539 31 December 2025 (38 815) 38 815 10. CASH AND CASH EQUIVALENTS 30 June 2026 (unaudited) 31 December 2025 Cash at bank and in hand 12 025 7 334 Short-term deposits 142 710 131 345 Restricted cash (VAT account) 43 834 762 Balance of cash and cash equivalents presented in the interim condensed consolidated statement of cash flows and the interim condensed consolidated statement of financial position 198 569 139 441 11. TRADE AND OTHER RECEIVABLES 11.1. Other long-term receivables and other assets 30 June 2026 (unaudited) 31 December 2025 Loans granted to related parties (details in Note 17) 120 790 117 086 Guarantee deposits held by non-related parties 839 859 Other 2 996 2 999 Other long-term receivables and other assets 124 625 120 944 11.2. Trade and other short-term receivables 30 June 2026 (unaudited) 31 December 2025 Trade receivables from third parties 18 997 15 098 Advances for the acquisition of land 295 595 149 284 Trade receivables from related parties (details in Note 17) 50 105 63 051 Advances for the acquisition of land from related parties (details in Note 17) 61 722 - State receivables 83 455 40 367 Deposit paid to the city 12 000 - Guarantee deposits held by third parties 1 914 1 946 Receivables from bills of exchange received from related parties (details in Note 17) 8 473 8 157 Other receivables 643 446 Total receivables, net 532 904 278 349 Allowance for expected credit losses 3 906 3 609 Total receivables, gross 536 810 281 958
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ROBYG S.A. GROUP Interim condensed consolidated financial statements for 6 months ended 30 June 2026 (in thousands of PLN) 29 12. INTEREST-BEARING LOANS, BORROWINGS, BONDS AND LEASE LIABILITIES 30 June 2026 (unaudited) Current interest-bearing loans and borrowings, bonds and lease liabilities Non-current interest- bearing loans and borrowings, bonds and lease liabilities Total Loans (Revolving credit facilities/overdraft) (1) 118 289 230 722 349 011 Loans from related parties (2) - 119 033 119 033 Bills of exchange to related parties (2) 36 461 - 36 461 Bonds (3) 9 725 469 638 479 363 Lease liabilities (office space) 3 478 11 041 14 519 Lease liabilities (vehicles) 841 3 137 3 978 168 794 833 571 1 002 365 1) Nominal interest rate based on WIBOR 1M increased by a margin. 2) Details in Note 17. 3) Nominal interest rate based on WIBOR 6M increased by a margin which varied from 2.4% to 2.6%. 31 December 2025 Current interest bearing loans and borrowings, bonds and lease liabilities Non-current interest bearing loans and borrowings, bonds and lease liabilities Total Loans (Revolving credit facilities/overdraft) (1) 48 984 140 635 189 619 Loans from related parties (2) - 115 030 115 030 Bills of exchange to related parties (2) 35 557 - 35 557 Bonds (3) 99 556 469 051 568 607 Lease liabilities (office space) 3 427 12 297 15 724 Lease liabilities (vehicles) 798 3 444 4 242 188 322 740 457 928 779 1) Nominal interest rate based on WIBOR 1M increased by a margin. 2) Details in Note 17. 3) Nominal interest rate based on WIBOR 6M increased by a margin which varied from 2.4% to 2.6%. 13. TRADE AND OTHER PAYABLES (CURRENT AND NON-CURRENT) 30 June 2026 (unaudited) 31 December 2025 Trade payables To related parties (details in Note 17) 1 814 28 863 To third parties 109 795 89 462 111 609 118 325 Tax, customs duty, social security, and other payables VAT 47 458 22 315 Personal income tax 395 768 Other 1 580 1 662 49 433 24 745 Other payables Guarantee deposits from subcontractors 90 361 74 250 Liability relating to advance payment received for the sale of land to a related party (details in Note 17) 169 685 97 330 Other liabilities to related parties (details in Note 17) - 3 012 Dividend liabilities to the non-controlling shareholders 11 056 - Deferred gain on the entry into joint ventures 15 674 17 682 Other liabilities to third parties 233 280 287 009 192 554 Total current trade and other payables 448 051 335 624 Other non-current liabilities: Liabilities to key members of the Group’s management arising from the incentive scheme (details in Note 17) 1 509 - Guarantee deposits from subcontractors 70 719 77 087 Total other non-current liabilities 72 228 77 087
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ROBYG S.A. GROUP Interim condensed consolidated financial statements for 6 months ended 30 June 2026 (in thousands of PLN) 30 14. DIVIDENDS PAID AND PROPOSED Dividends are distributed in accordance with the provisions of the Commercial Companies Code, based on the separate financial statements of ROBYG S.A. prepared in accordance with IFRS. On 10 June 2026, the Annual General Shareholders Meeting adopted a resolution concerning the distribution of the net profit generated by the Company for the financial year ended 31 December 202 5 by the allocation of the entire profit, i.e. PLN 253 625 thousand to the supplementary capital (presented in the interim condensed consolidated statement of financial position under retained earnings). 15. EARNINGS PER SHARE 6 months ended 30 June 2026 (unaudited) 3 months ended 30 June 2026 (unaudited, not reviewed) 6 months ended 30 June 2025 (unaudited) 3 months ended 30 June 2025 (unaudited, not reviewed) Net profit attributable to ordinary shareholders of the parent company, used to compute basic earnings per share 102 529 66 635 82 158 66 488 Weighted average number of ordinary shares used to compute basic earnings per share 96 614 132 96 759 581 96 467 066 96 467 066 Basic earnings per share (in PLN per share) 1.06 0.69 0.85 0.69 In the periods of 6 months ended 30 June 2026 and 30 June 2025, there were no dilutive instruments. On 25 March 2026, an Extraordinary General Meeting of the Company was held, during which a number of resolutions were passed concerning operations on the Company’s share capital (details of the resolutions passed are described in Note 19). These concerned, amongst other things, the consolidation of all the Company’s shares, as a result of which the Company’s share capital is to be divided into 96 467 066 Series A ordinary bearer shares, with a nominal value of PLN 0,30 per share. Registration in the National Court Register was completed on 5 May 2026. In addition, the Meeting also adopted a resolution on increasing the Company’s share capital by the issue of 9 646 706 new Series B ordinary bearer shares, with a nominal value of PLN 0,30 each (with rights identical to those of Series A shares). Registration of the increased share capital in the National Court Register was completed on 10 August 2026. On 12 June 2026, the Extraordinary General Meeting of the Company adopted a resolution (subsequently amended by a resolution adopted by the Extraordinary General Meeting dated 15 June 2026), increasing the Company’s share capital through the issu ance of 2 411 677 new Series C ordinary shares addressed to selected key managers of the Group, with a nominal value of PLN 0,30 each. Registration of the increased share capital in the National Court Register was completed on 18 August 2026. In the period of 6 months ended 30 June 2026, the Company calculated the basic earnings per share using the weighted average number of ordinary shares considering the consolidation of Series A shares and the issuance of Series B and Series C shares, for the respective period. In the period of 6 months ended 30 June 2025, the Company calculated the basic earnings per share using the number of shares remaining after the consolidation, i.e. 96 467 066 shares.
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ROBYG S.A. GROUP Interim condensed consolidated financial statements for 6 months ended 30 June 2026 (in thousands of PLN) 31 16. CONTINGENT LIABILITIES 16.1. Guarantees and sureties granted As at 30 June 2026: Guarantor Contractor/Customer Subject of the guarantee Up to the amount From To ROBYG S.A. City of Poznań Construction of public infrastructure (1) 34 059 15.10.2021 31.12.2026 ROBYG S.A. City of Poznań Construction of public infrastructure (1) 9 056 15.10.2021 30.09.2028 ROBYG Construction Sp. z o.o. Budinpol sp. z o.o. Trade payables (2) 700 27.01.2026 14.08.2026 ROBYG S.A. Stal-Service Sp. z o.o. Trade payables (2) 700 26.01.2026 30.12.2026 ROBYG S.A. Przedsiębiorstwo Produkcyjno- Handlowe "ABET" Sp. z o.o. Trade payables (2) 4 000 01.04.2026 31.03.2027 ROBYG S.A. Cemex Polska Sp. z o.o. Trade payables (2) 650 16.02.2026 01.10.2026 ROBYG Construction Sp. z o.o. Budinpol sp. z o.o. Trade payables (2) 1 000 17.09.2025 31.07.2026 ROBYG S.A. Przedsiębiorstwo Produkcyjno- Handlowe "ABET" Sp. z o.o. Trade payables (2) 2 300 21.07.2025 30.06.2026 ROBYG S.A. Przedsiębiorstwo Produkcyjno- Handlowe "ABET" Sp. z o.o. Trade payables (2) 2 300 01.08.2025 30.06.2026 ROBYG S.A. LUXMED Sp. z o.o. Trade payables (2) 1 135 04.06.2019 08.07.2026 ROBYG S.A. Stal-Service Sp. z o.o. Trade payables (2) 1 907 31.10.2025 31.10.2026 ROBYG S.A. Cemex Polska Sp. z o.o. Trade payables (2) 900 03.11.2025 31.01.2027 ROBYG S.A. RBC Property Sp. z o.o. Trade payables (2) 1 050 25.06.2025 20.02.2030 ROBYG Young City 3 Sp. z o.o. Capital City of Warsaw, Bemowo District Bank guarantee (3) 1 920 24.09.2024 10.09.2027 ROBYG Construction Sp. z o.o. Port Popowice Sp. z o.o. SK Bank guarantee (3) 4 386 08.04.2025 14.01.2027 Total 66 063 (1) Performance guarantee in respect of services provided by companies within the ROBYG Group. (2) The Group acts as a guarantor of payments towards contractors for the supply of goods and services ordered, in particular in connection with the implementation of the Group’s property development projects and other services purchased by the Group. The guarantees gra nted constitute financial guarantees issued by the Group. The valuation of financial guarantees (expected credit losses) is immaterial. (3) Details in Note 21.
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ROBYG S.A. GROUP Interim condensed consolidated financial statements for 6 months ended 30 June 2026 (in thousands of PLN) 32 As at 31 December 2025: Guarantor Contractor/Customer Subject of the guarantee Up to the amount of From To ROBYG S.A. City of Poznań Construction of public infrastructure (1) 34 059 15.10.2021 31.12.2026 ROBYG S.A. City of Poznań Construction of public infrastructure (1) 9 056 15.10.2021 30.09.2028 ROBYG S.A. Stal-Service Sp. z o.o. Trade payables (2) 1 000 07.01.2025 31.12.2025 ROBYG S.A. Cemex Polska Sp. z o.o. Trade payables (2) 800 16.01.2025 31.12.2025 ROBYG S.A. Stal-Service Sp. z o.o. Trade payables (2) 700 05.06.2025 01.03.2026 ROBYG S.A. Stal-Service Sp. z o.o. Trade payables (2) 1 000 28.07.2025 31.03.2026 ROBYG S.A. Przedsiębiorstwo Produkcyjno- Handlowe "ABET" Sp. z o.o. Trade payables (2) 2 300 10.02.2025 31.03.2026 ROBYG Construction Sp. z o.o. Budinpol Sp. z o.o. Trade payables (2) 1 000 02.06.2025 31.03.2026 ROBYG Construction Sp. z o.o. Budinpol Sp. z o.o. Trade payables (2) 1 000 17.09.2025 30.04.2026 ROBYG S.A. Przedsiębiorstwo Produkcyjno- Handlowe "ABET" Sp. z o.o. Trade payables (2) 2 300 21.07.2025 30.06.2026 ROBYG S.A. Przedsiębiorstwo Produkcyjno- Handlowe "ABET" Sp. z o.o. Trade payables (2) 2 300 01.08.2025 30.06.2026 ROBYG S.A. LUXMED Sp. z o.o. Trade payables (2) 1 135 04.06.2019 08.07.2026 ROBYG S.A. Stal-Service Sp. z o.o. Trade payables (2) 1 907 31.10.2025 31.10.2026 ROBYG S.A. Cemex Polska Sp. z o.o. Trade payables (2) 900 31.10.2025 31.01.2027 ROBYG S.A. RBC Property Sp. z o.o. Trade payables (2) 1 050 25.06.2025 20.02.2030 ROBYG Young City 3 Sp. z o.o. Capital City of Warsaw, Bemowo District Bank guarantee (3) 1 920 24.09.2024 10.09.2027 ROBYG Construction Sp. z o.o. Port Popowice Sp. z o.o. SK Bank guarantee (3) 4 386 08.04.2025 14.01.2027 Total 66 813 (1) Performance guarantee in respect of services performed by the ROBYG Capital Group. (2) The Group acts as a guarantor of payments towards contractors for the supply of goods and services ordered, in particular in connection with the implementation of the Group’s property development projects and other services purchased by the Group. The guar antees granted constitute financial guarantees issued by the Group. The valuation of financial guarantees (expected credit losses) is immate rial. (3) Details in Note 21. 16.2. Provisions As at 30 June 2026 and 31 December 2025, the balance of provisions comprised: • provisions relating to claims from homeowners’ associations and the expected costs of remedying defects identified in buildings constructed by the Group – the total provision recognized in this respect amounted to PLN 6 404 thousand as at 30 June 2026 (as at 31 December 2025: PLN 6 443 thousand). The total value of claims raised by homeowners’ associations in respect of the removal of defects in common areas of buildings constructed by the Group amounted to PLN 19 235 thousand as at 30 June 2026 (as at 31 December 2025: PLN 21 504 thousand). In the opinion of the Company’s Management Board, the claims made by the homeowners’ associations are significantly overstated, premature and, in the vast majority of cases, unjustified, as the Group remedies identified defects on an ongoing basis where appropriate . Furthermore, a certain portion of these claims will be settled at the expense of the Group’s subcontractors who conducted the construction work affected by the defects. Nevertheless, following an analysis of the possible scope and scale of the repair work required to rectify the defects, and given that at this stage it is uncertain whether and to what extent the costs of rectification will be covered by the subcontractors, the Company’s Management Board has decided to recognise the above provision for the expected costs of rectifying the identified defects, • other provisions (related, among others, to claims by the Group’s customers and subcontractors and to fees for perpetual usufruct of land), which as at 30 June 2026 amounted to PLN 159 thousand (as at 31 December 2025: PLN 25 thousand).
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ROBYG S.A. GROUP Interim condensed consolidated financial statements for 6 months ended 30 June 2026 (in thousands of PLN) 33 17. RELATED PARTIES Transactions with the Group’s related parties in the period of 6 months ended 30 June 2026: Related party Revenue Purchases Interest on loans received Interest on issued bills of exchange (financial costs) Interest on bills of exchange held (financial income) Interest on loans granted (recognised as financial income) Financial cost Capitalised during the period TAG Immobilien AG (Shareholder) 294 (2) - - - - - - Joint ventures 62 339 (3) 639 - - 1 324 - 3 704 Vantage Development S.A. Group (1) 253 075 (4) 12 436 (6) - - - - - Joint ventures of the Vantage Development Group (1) 24 574 (5) 852 - - - - - TAG Residential Real Estate Sp. z o.o. (1) 45 - - - - - - Yula Lux S.A.R.L (7) - - 4 003 4 003 - - - MAM Projekt Sp. z o.o. (7) - - - - - 316 - Total 340 327 13 927 4 003 4 003 1 324 316 3 704 (1) Entity being part of the TAG Immobilien AG group. (2) Revenue from re-invoices of audit costs which were compensated in these interim condensed consolidated financial statements with the costs pertaining to these re-invoices. (3) Revenue from related parties pertained to construction services ( general contracting), project management services, accounting services, administrative services, license and marketing fees, sales support services, other services provided by the Group to such entities, as well as recharge income of PLN 592 thousand, which has been offset in these interim condensed consolidated financial statements against the related recharge costs. (4) Revenue from related parties pertained to construction services (general contracting), project management services including services related to obtaining permits required for the implementation of development projects, accounting and HR services, administrative services, sales support services, land acquisition brokerage services and other services provided by the Group to such entities. Revenu e from the sale of land and related development expenditures amounted to PLN 116 605 thousand. An amount of PLN 568 thousand represented recharge income, which has been offset in th ese interim condensed consolidated financial statements against the related recharge costs. (5) Revenue from related parties pertained to construction services (general contracting), accounting services and other services provided by the Group to such entities. An amount of PLN 58 thousand represented recharge income, which has been offset in these interim condensed consolidated financial statement s against the related recharge costs. (6) Purchases from related parties pertained to land acquisitions amounting to PLN 8 100 thousand and capitalised development expenditures on acquired land amounting to PLN 663 thousand , classified as inventories. (7) Project Development Partner (details in Note 6). Balances with the Group’s related parties as at 30 June 2026: Related party Trade and other payables Lease liabilities Trade and other receivables Bills of exchange received from related parties Loans received Dividend liabilities Bills of exchange issued to related parties Loans granted TAG Immobilien AG (Shareholder) - - - - - - - - Joint ventures 61 11 4 721 - - - 36 461 120 790 Vantage Development S.A. Group (1) 170 907 (3) 961 102 739 - - - - - Joint ventures of the Vantage Development Group (1) 101 - 4 367 - - - - - TAG Residential Real Estate Sp. z o.o. 49 - - - - - - - Yula Lux S.A.R.L (2) 381 - - - 119 033 - - - MAM Projekt Sp. z o.o. (2) - - - 8 473 - 11 042 - - Total 171 499 972 111 827 8 473 119 033 11 042 36 461 120 790 (1) Entity being part of the TAG Immobilien AG Group. (2) Project Development Partner (details in Note 6). (3) Relates to advance payments received on account of the sale of land classified as inventories in the amount of PLN 169 685 thousand.
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ROBYG S.A. GROUP Interim condensed consolidated financial statements for 6 months ended 30 June 2026 (in thousands of PLN) 34 Transactions with the Group’s related parties in the period of 6 months ended 30 June 2025: Related party Revenue Purchases Interest on loans received Interest on issued bills of exchange (financial costs) Interest on loans granted (recognised as financial income) Financial cost Capitalised during the period Joint ventures 76 425 (2) 2 322 - - 930 6 384 Vantage Development S.A. Group (1) 114 650 (3) 255 710 (4) - - - - Joint ventures of the Vantage Development Group (1) 2 596 (6) - - - - - TAG Residential Real Estate Sp. z o.o. (1) 312 (5) - - - - - Yula Lux S.A.R.L (7) - - 1 375 1 211 - - MAM Projekt Sp. z o.o. (7) - - 296 296 - - Total 193 983 246 609 1 671 1 507 930 6 384 (1) Entity being part of TAG Immobilien AG Group. (2) Revenues from related parties pertained to accounting services, administrative services, project management services, sales support services, marketing and license fees, construction serv ices (general contracting) provided by the Group for the benefit of these entities and revenues from re -invoices in the amount of PLN 1 021 thousand, which have been offset in these interim condensed consolidated financial statements against the related recharge costs. (3) Revenues from related parties pertained to accounting services, administrative services, sales support services, marketing fees, project management services, construction services (general contracting) and renting out of office space provided by the Group for the benefit of these entities. Revenue from the sale of land and related development expenditures amounted to PLN 10 977 thousand, while revenue from the sale of land classified as assets held for sale amounted to PLN 23 500 thousand. An amount of PLN 175 thousand pertained to revenues from re-invoices, which has been offset in these interim condensed consolidated financial statements against the related recharge costs. (4) Purchases from related parties comprised land acquisitions amounting to PLN 249,887 thousand and capitalised development expe nditures on acquired land amounting to PLN 4,215 thousand. (5) Revenues from related parties pertained to accounting, sales support services and marketing fees. (6) Revenues from related parties pertained to construction services provided by the Group for the benefit of these entities. (7) Project Development Partner. Balances with the Group’s related parties as at 31 December 2025: Related party Trade and other payables Lease liabilities Trade and other receivables Bills of exchange receivables Loans received Liabilities arising from issued bills of exchange Loans granted TAG Immobilien AG (Shareholder) - - 4 - - - - Joint ventures 113 41 15 182 - - 35 557 117 086 Vantage Development S.A. Group 128 954 (1) 1 113 43 476 - - - - TAG Residential Real Estate Sp. z o.o. - - 1 - - - - Joint ventures of the Vantage Development Group 138 - 4 388 - - - - Yula Lux S.A.R.L (2) - - - - 115 030 - - MAM Projekt Sp. z o.o. (2) - - - 8 157 - - - Total 129 205 1 154 63 051 8 157 115 030 35 557 117 086 (1) Relates to an advance payment received for the acquisition of land in the amount of PLN 97 330 thousand, a liability in respect of purchased land in the amount of PLN 27 933 thousand, and an advance payment for construction works in the amount of PLN 3 012 thousand. (2) Project Development Partner.
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ROBYG S.A. GROUP Interim condensed consolidated financial statements for 6 months ended 30 June 2026 (in PLN thousands) 35 COMPENSATION OF KEY MANAGEMENT PERSONNEL OF THE GROUP Remuneration paid or due to members of the Management Board and Supervisory Board in the period of 6 months ended 30 June 2026 and in the period of 6 months ended 30 June 2025 6 months ended 30 June 2026 (unaudited) 6 months ended 30 June 2025 (unaudited) Management Board of ROBYG S.A. Short-term employee benefits (salaries and surcharges) 498 469 Service agreements 4 295 4 446 Valuation of the share-based payment programme (1) 1 333 - Supervisory Board of ROBYG S.A. Short-term employee benefits (salaries and surcharges) 175 153 Service agreements 3 873 3 883 Valuation of the share-based payment programme (1) 4 740 - Management Boards and Supervisory Boards of subsidiaries Short-term employee benefits (salaries and surcharges) 1 947 1 723 Service agreements 1 360 2 429 Valuation of the share-based payment programme (1) 410 - Total 18 631 13 103 (1) Details in Note 19.3. As at 30 June 2026, liabilities (including accruals) in respect of members of the Management Boards and Supervisory Boards of Group companies amounted to PLN 3 695 thousand (PLN 18 410 thousand as at 31 December 2025) , of which liabilities arising from the long-and short-term incentive scheme applicable within the Group for selected members of the management and Supervisory Boards of Group companies amounted to PLN 3 219 thousand as at 30 June 2026 (PLN 16 288 thousand as at 31 December 2025). During the six months ended 30 June 2026, no agreements for the sale of flats were concluded between Group entities and members of the Management Boards and Supervisory Boards of Group companies. All transactions with related parties were concluded on arm’s length basis. 18. FINANCIAL INSTRUMENTS 18.1. Fair values of particular classes of financial instruments The table below presents a comparison of the carrying amounts and fair values of all the Group’s financial instruments, broken down by individual classes and categories of assets and liabilities. Category according to IFRS 9 Carrying amount Fair value 30 June 2026 31 December 2025 30 June 2026 31 December 2025 Financial assets Other long-term receivables FAAC 873 893 873 893 Loans granted to related parties FAAC 120 790 117 086 120 790 117 086 Trade and other receivables (short- term) FAAC 92 132 88 698 92 132 88 698 Individual escrow accounts FAAC 139 120 167 942 139 120 167 942 Cash and cash equivalents FAAC 198 569 139 441 198 569 139 441 551 484 514 060 551 484 514 060
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ROBYG S.A. GROUP Interim condensed consolidated financial statements for 6 months ended 30 June 2026 (in PLN thousands) 36 Category according to IFRS 9 Carrying amount Fair value 30 June 2026 31 December 2025 30 June 2026 31 December 2025 Financial liabilities Interest-bearing bank loans and borrowings FLAC 468 044 304 649 468 044 304 649 Trade and other liabilities (short-term) FLAC 213 259 192 855 213 259 192 855 Bonds FLAC 479 363 568 607 478 125 564 579 Other liabilities (long-term) FLAC 72 228 77 087 72 228 77 087 Short-term accruals FLAC 57 800 72 087 57 800 72 087 1 290 694 1 215 285 1 289 456 1 211 257 Abbreviations used: FAAC – Financial assets measured at amortised cost FLAC – Financial liabilities measured at amortised cost FVTPL – Financial assets measured at fair value through profit or loss FVPL/OCI – Derivatives measured at fair value through profit or loss or other comprehensive income The fair value of financial assets and liabilities is presented as the amount for which the instrument could be exchanged in a current transaction between willing parties, other than in a forced or liquidation sale. The following methods and assumptions were used in estimating fair value: • Fair value of cash and short -term deposits, balance of individual escrow accounts, trade receivables, trade payables, and other current liabilities approximates their carrying amounts largely due to the short -term maturities, • fair value of interest-bearing debt instruments, except for bonds approximates their carrying amount due to a fact that interest rates and margins of these instruments are at the market level, • fair value of bonds is determined based on Catalyst market listings of these instruments. Fair value of other long-term receivables and liabilities is approximate to their carrying value. All financial instruments described above have been classified as Level 3 in the fair value hierarchy in accordance with IFRS 13 Fair Value Measurement, except for the listed bonds which are classified as Level 1. 18.2. Change in the Group’s financial liabilities Interest- bearing bank loans Loans from related parties Lease liabilities Bonds Bills of exchange issued to related parties Perpetual usufruct right of land As at 1 January 2026: 189 619 115 030 19 966 568 607 35 557 97 286 Proceeds (cash) 1 204 923 - - - - - New rental/lease agreements - - 573 - - 4 Repayments (cash) (1 045 239) - (2 188) (88 200) (350) (13 630) Interest and commission payments (cash) (8 875) - (679) (19 890) (70) - Interest accrued 6 882 4 003 679 18 846 1 324 - Amortisation of commission 1 566 - - - - - Valuation - - 146 - - - Remeasurement of the liability resulting from changes in fee levels - - - - - 37 227 Other changes (non-cash) 135 - - - - (3 914) As at 30 June 2026: 349 011 119 033 18 497 479 363 36 461 116 973
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ROBYG S.A. GROUP Interim condensed consolidated financial statements for 6 months ended 30 June 2026 (in PLN thousands) 37 19. EQUITY 19.1. Share capital The share capital of the Company as at 31 December 2025 amounted to PLN 28 940 119,90 and was divided into 289 401 199 ordinary bearer shares with a nominal value of 0 ,10 PLN each, entitling the holder to one vote at the Company’s General Meeting. On 25 March 2026, an Extraordinary General Meeting of the Company (“the Meeting”) was held, during which a number of resolutions were passed concerning operations relating to the Company’s share capital. The resolutions adopted concerned, inter alia, the redemption of one of the Company’s own shares acquired free of charge on 25 March 2026 from the Company’s Shareholder , for the purpose of its voluntary redemption and the resulting reduction in the Company’s share capital (without conducting a convocation procedure). The meeting also adopted a resolution regarding the change to the existing designation of the series of shares issued by the Company and the reverse s plit of all the Company’s shares. Following the adoption of the resolutions and the registration of the changes in the National Court Register, which took place on 5 May 2026, the Company’s share capital as at 30 June 2026, amounted to PLN 28 940 119,80 and was divided into 96 467 066 Series A ordinary bearer shares, with a nominal value of 0,30 PLN per share. The Meeting adopted also a resolution on increasing the Company’s share capital from PLN 28 940 119,80 to an amount not lower than PLN 28 940 120,10 and not higher than PLN 31 834 131,60, i.e. by an amount not less than PLN 0,30 and not more than PLN 2 894 011,80, through the issue of not fewer than 1 and not more than 9 646 706 new Series B ordinary bearer shares (“New Shares”), with a nominal value of PLN 0 ,30 each (with rights identical to those of Series A shares) and on applying for the admission and listing of the Company’s shares to trading on the regulated market operated by the Warsaw Stock Exchange (‘Issuance Resolution’). On 23 June 2026, after the closure of the bookbuilding process conducted as part of the public offering (“the Offering”) , pursuant to the Company’s prospectus approved by the Polish Financial Supervision Commission ( Komisja Nadzoru Finansowego) on 16 June 2026 (“the Prospectus”), the Company adopted resolutions regarding the final number of Series B Shares, which has been set at 9 646 706, with the issue price of PLN 34 per 1 share. T he final value of the Company’s share capital increase through the issuance of Series B amounted to PLN 2 894 011,80. The registration of the share capital increase in the National Court Register took place on 10 August 2026. On 12 June 2026, the Extraordinary General Meeting of the Company adopted a resolution (subsequently amended by a resolution adopted by the Extraordinary General Meeting dated 15 June 2026), increasing the Company’s share capital through the issuance of 2 411 677 new Series C ordinary shares addressed to selected key managers of the Group, with a nominal value of PLN 0,30 each (details in Note 19.3). Registration of the increased share capital in the National Court Register was completed on 18 August 2026. As of the date of publication of these interim condensed consolidated financial statements, the Company’s share capital amounted to PLN 32 557 634,70 and was divided into 108 525 449 shares, with a nominal value of PLN 0,30 each. As at 30 June 2026 and 31 December 2025, the parent company of the Company is TAG Beteiligungs - und Immobilienverwaltungs GmbH, with its registered office in Hamburg, Germany (a company belonging to the TAG Immobilien AG group) (“Shareholder”). The shares of TAG Immobilien AG are listed on the Frankfurt Stock Exchange. As part of the Offering, the Shareholder sold 25 000 000 of the existing Series A shares. As a result, as of the date of publication of these interim condensed consolidated financial statements, the shareholding structure is as follows: Shareholder The number of votes Shareholders by the number of votes The number of shares Shareholders by the number of shares TAG Beteiligungs- und Immobilienverwaltungs GmbH 72 783 542 67,10% 72 783 542 67,10% European Bank for Reconstruction and Development 6 000 000 5,50% 6 000 000 5,50% Other 29 741 907 27,40% 29 741 907 27,40% TOTAL 108 525 449 100,00% 108 525 449 100,00%
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ROBYG S.A. GROUP Interim condensed consolidated financial statements for 6 months ended 30 June 2026 (in PLN thousands) 38 19.2. Non-controlling interests 2026 (unaudited) 2025 (unaudited) As at 1 January 28 499 (2 873) Share of profit or loss of subsidiaries 1 852 (212) Dividend payment (11 042) - As at 30 June 19 309 (3 085) Summary financial information regarding projects controlled by the Group and conducted with Partners as at 30 June 2026 and 31 December 2025, and for the periods of 6 months ended 30 June 2026 and 30 June 2025, is presented in the tables below: Krakowska Project Sp. z o.o. (project in Wrocław) Krakowska Project Sp. z o.o. (project in Wrocław) 30 June 2026 31 December 2025 Non-controlling interest (%) 49% 49% Non-current assets 40 729 Current assets, including: 214 600 182 288 Inventories 191 948 173 553 Non-current liabilities, including: 156 197 148 030 Loans from related parties 137 320 132 748 Bank loans 18 877 15 552 Current liabilities, including: 44 995 24 470 Advances received from clients 30 670 18 719 Net assets 13 448 10 517 Net assets attributable to non-controlling interests 7 544 6 109 Period 1 January – 30 June (1) Revenue 26 162 - Net profit/(loss) 2 931 - Other comprehensive income (OCI) - - Total comprehensive income for the period 2 931 - Attributable to non-controlling interests 1 435 - (2) The Group sold a 49% stake in the company on 6 August 2025. Zaspa Project Sp. z o.o. (project in Gdańsk) Zaspa Project Sp. z o.o. (project in Gdańsk) 30 June 2026 31 December 2025 Non-controlling interest (%) 49% 49% Non-current assets 990 501 Current assets, including: 140 095 122 687 Inventories 129 845 121 826 Non-current liabilities, including: 111 530 104 843 Loans from related parties 108 170 104 843 Bank loans 3 360 - Current liabilities, including: 15 761 2 036 Advances received from clients 8 860 1 944 Net assets 13 794 16 309 Net assets attributable to non-controlling interests 10 028 11 260 Period 1 January – 30 June (1) Revenue - - Net profit/(loss) (2 515) - Other comprehensive income (OCI) - - Total comprehensive income for the period (2 515) - Attributable to non-controlling interests (1 232) - (1) The Group acquired control of the company on 6 August 2025.
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ROBYG S.A. GROUP Interim condensed consolidated financial statements for 6 months ended 30 June 2026 (in PLN thousands) 39 ROBYG 28 Sp. z o.o. (project in Warsaw) ROBYG 28 Sp. z o.o. (project in Warsaw) 30 June 2026 31 December 2025 Non-controlling interest (%) 49% 49% Non-current assets - - Current assets, including: 30 911 37 167 Inventories 4 210 12 863 Provisions, including: 2 328 5 287 Deferred tax liability 2 328 5 287 Non-current liabilities, including: 11 8 Loans received from related parties - - Current liabilities, including: 25 202 9 332 Loans received from related parties - - Advances received from clients - 9 109 Net assets 3 370 22 540 Net assets attributable to non-controlling interests 1 737 11 130 Period 1 January – 30 June Revenue 11 969 - Net profit/(loss) 3 365 (432) Other comprehensive income (OCI) - - Total comprehensive income for the period 3 365 (432) Attributable to non-controlling interests 1 649 (212) 19.3. Share-based payment programme On 12 June 2026, the Extraordinary General Meeting of the Company adopted a resolution (subsequently amended by a resolution adopted by the Extraordinary General Meeting dated 15 June 2026), increasing the Company’s share capital through the issuance of 2 411 677 new Series C ordinary shares addressed to selected key managers of the Group, with a nominal value of PLN 0,30 each. The issue price of the Series C shares was equal to the issue price of the New Shares offered in the Offering, less a 10% discount. The total number of Series C Shares represents 2.5% of the Company’s share capital issued as at the Prospectus Date, and the total number of votes attached to all Series C Shares represents 2.5% of the total number of votes at the Company’s General Meeting. The newly issued shares are subject to an 18-month lock-up period. The funds paid for the subscription of the Series C Shares , have been derived either from individuals’ own funds or have been co-financed by cash loans granted by TAG Immobilien AG to certain eligible individuals (in the case of such individuals, the subscription for the Series C Shares was financed 50% from their own funds and 50% from the proceeds of the loans received). The total amount of proceeds connected with this subscription has been obtained in June 2026 and amounted to PLN 73 797 thousand. As at 30 June 2026 those funds have been presented in the Company’s equity, in the line: “Capital contribution paid, not registered”. The programme is classified as an equity-settled share-based payment programme. The total value of the programme amounts to PLN 8 200 thousand and as at 30 June 2026 has been presented as part of Reserve capital, within the Group’s equity. Out of this amount, PLN 5 960 thousand has been capitalised within Inventories, whereas PLN 1 374 thousand has been presented within the selling and marketing expenses and PLN 866 thousand has been presented within the administrative expenses. 20. SIGNIFICANT EVENTS RELATING TO THE GROUP, OCCURRING DURING THE PERIOD OF 6 MONTHS ENDED 30 JUNE 2026 20.1. Loan agreements In the period of 6 months ended 30 June 2026, the Group did not enter into any new loan agreements , and the repayments and drawdowns made during the period arose from existing loan agreements.
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ROBYG S.A. GROUP Interim condensed consolidated financial statements for 6 months ended 30 June 2026 (in PLN thousands) 40 20.2. Bonds In the period of 6 months ended 30 June 2026, no new bonds were issued. The Group carried out the following buy-outs of bonds during the period ended 30 June 2026: Series Number of bought-out bonds Nominal value of bought-out bonds (in PLN thousands) PD 88 200 88 200 20.3. Land acquisitions (direct) In the period of 6 months ended 30 June 2026, the Group concluded acquisition transactions of land with related and non-related parties concerning land located in Kraków, Gdańsk and Wrocław, with a total acquisition cost of PLN 75 252 thousand (in the period of 6 months ended 30 June 2025, the Group concluded acquisition transactions of land located in Warsaw, Tricity and Wroclaw with a total acquisition cost of PLN 618 753 thousand). The purchased land with the value of PLN 74 807 thousand (PLN 378 895 thousand in the period of 6 months ended 30 June 2025) was classified as inventories, whereas the land with the value of PLN 445 thousand (PLN 239 858 thousand in the period of 6 months ended 30 June 2025) was classified as investment properties (due to the absence of specific investment plans) in the interim condensed consolidated statement of financial position as at 30 June 2026. 20.4. Land acquisitions (indirect) In the period of 6 months ended 30 June 2026, the Group entered into an indirect land acquisition transaction through the purchase of shares in a company owning a plot of land located in Warsaw. Due to the nature of the transaction, the acquisition described below is treated as an acquisition of assets rather than a business combination. Name of the company in which the shares were acquired LF3 Sp. z o.o. Property held Property located in Warsaw in the Targówek district The Group’s share in the share capital of the acquired company prior to the acquisition 0% The Group’s share in the share capital of the acquired company after the acquisition 100% Value of identifiable assets and liabilities as at the acquisition date Assets: Cash and cash equivalents 2 Trade and other receivables 20 550 Inventories 47 857 68 409 Liabilities: Liability arising from the purchase of land (3) 44 280 Loan liability to previous owners (subrogation by ROBYG on the date of taking control) 14 191 58 471 Net assets 9 938 Total purchase price (2) 9 938 Cash outflow arising from the acquisition Net cash acquired with the entity 2 Cash paid for the acquisition of shares (9 938) Cash paid to repay the acquired company’s loan to its former owners (14 191) Net cash outflow (1) (24 127) (1) The net cash outflow is presented in the interim condensed consolidated statement of cash flows under investing activities and comprised: Cash in the amount of PLN 24 127 thousand as payment for 100% of the shares in LF3 sp. z o.o. and repayment of a loan to the previous owners of the acquired company, less net cash acquired together with the entity. (2) The amount, excluding the repayment of the loan to the previous owners, which was recognised within the net assets of LF3 Sp. z o.o. as “Loan liability to previous owners”; on the date of taking control, ROBYG repaid the loan to the previous owners and assumed the rights of the creditor; the amounts of receivables and liabilities arising from this loan as at the reporting date are subject to elimination as intra-group balances. (3) The liability arising from the purchase of land by LF3 Sp. z o.o. was settled against the notarial deposit previously paid by ROBYG.
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ROBYG S.A. GROUP Interim condensed consolidated financial statements for 6 months ended 30 June 2026 (in PLN thousands) 41 20.5. Disposal of land In the period of 6 months ended 30 June 2026, the Group concluded the final agreements for the disposal of land located in Warsaw and Wrocław, classified as inventories, with related and non-related parties (in the period of 6 months ended 30 June 2025, the Group concluded the final agreement with a related party for the disposal o f land located in Gdańsk). Sales revenues concerning this land disposal in the total amount of PLN 116 715 thousand ( PLN 10 338 thousand in the period of 6 months ended 30 June 2025) were presented under revenues in the interim condensed consolidated statements of comprehensive income. The cost of land recognised by the Group amounted to PLN 111 695 thousand (PLN 5 962 thousand in the period of 6 months ended 30 June 2025). In the period of 6 months ended 30 June 2026 , the Group did not enter into any final agreements for the disposal of land classified as non-current assets held for sale. In the period of 6 months ended 30 June 2025, the Group concluded with a related party the final agreement for the disposal of land classified as non-current assets held for sale located in Gdańsk for the total amount of PLN 23 500 thousand. Sales revenue concerning the disposal of the above mentioned land was equal to its carrying amount as the property was measured at fair value as at 31 December 2024, thus no gain/loss was recognized on this transaction in the period of 6 months ended 30 June 2025. In the period of 6 months ended 30 June 2026 , and in the period of 6 months ended 30 June 2025 , the Group did not enter into any final agreements for the disposal of land classified as investment properties. 21. DEBT RATIO The primary objective of the Group’s capital management is to ensure that it maintains a strong credit rating and healthy capital ratios in order to support its business and maximise shareholder value. The Group manages its capital structure and makes adjustments to reflect the changes in the economic conditions. To maintain or adjust the capital structure, the shareholders may decide on the dividend payment, withdraw the capital or decide on a new issue of shares. The maintaining of appropriate debt ratios constitutes one of the covenants of the issued bonds (ratio up to the level of 1,1). The net debt includes interest-bearing loans, borrowings and guarantees granted, less interest-bearing borrowings from related parties and joint venture partners, less cash, and cash equivalents, whereas the capital comprises total equity. The debt ratio pertaining to bond series PF and PG (including the assimilated PH series) includes cash on open individual escrow accounts of up to 100% value, cash on closed individual escrow accounts of up to 50% value and investment funds’ units. Below is presented the calculation of the debt ratio pertaining to bond series PF and PG (including the assimilated PH series): 30 June 2026 (unaudited) 31 December 2025 Interest-bearing loans, borrowings, bonds, and liabilities arising from the issuance of other debt securities 987 846 913 055 Guarantees granted (details in Note 16.1) 6 306 6 306 Less interest-bearing loans, borrowings, bonds, and liabilities arising from the issuance of other debt securities from related parties and non-controlling shareholders (155 494) (150 587) Less cash and cash equivalents (198 569) (139 441) Net debt excluding cash on individual escrow accounts 640 089 629 333 Less cash on individual escrow accounts (139 120) (167 942) Net debt including cash on individual trust escrow 500 969 461 391 Equity 2 272 315 2 096 979 Debt ratio (including cash on individual escrow accounts) 0,22 0,22
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ROBYG S.A. GROUP Interim condensed consolidated financial statements for 6 months ended 30 June 2026 (in PLN thousands) 42 22. ASSETS CLASSIFIED AS HELD FOR SALE In the period of 6 months ended 30 June 2026 and in the year ended 31 December 2025, the Group did not enter into any new agreements relating to the disposal of land or commercial premises classified as held for sale . In the year ended 31 December 2024, the Group concluded agreements for the disposal of land located in Gdańsk (Nowy Port and Oliwa) and a commercial unit in Warsaw (Białołęka) . The transactions relating to the sale of the land located in Gdańsk (Nowy Port) and the commercial unit in Warsaw were finalized during 2025. The transaction involving the sale of the land located in Gdańsk (Oliwa district) has not yet been finalized due to prolonged completion of activities related to the sale process. The Group plans to finalise the sale of this land during 2026. 30 June 2026 (unaudited) 31 December 2025 Opening balance 49 472 78 356 Finalisation of sale transaction - (37 732) Revaluation to fair value, net (details in Note 9) 197 8 848 Additional costs incurred during the period 3 149 - Closing balance 52 818 49 472 23. EVENTS AFTER THE REPORTING DATE On 30 June 2026, the Management Board of the Warsaw Stock Exchange adopted a resolution on the admission of the Company’s shares to trading on the regulated (main) market operated by the Warsaw Stock Exchange. The date of introduction to and the first listing has been set for 2 July 2026. The settlement of Series B shares in the amount of PLN 321 521 thousand net took place on 11 August 2026. The registration of the share capital increase connected with the Series B shares in the National Court Register took place on 10 August 2026. On 9 July 2026, the Group entered into a joint venture agreement with Mam Projekt Sp. z o.o. with the purpose of the joint realisation of a residential project located in W arsaw. The Group also concluded a preliminary share sale agreement for the sale of 49% of shares in the share capital of ROBYG 21 Sp. z o.o. to Mam Projekt Sp. z o.o . On 1 September 2026, the President of the Office of Competition and Consumer Protection granted consent for the concentration. On 24 September 2026 the final agreement for the sale of shares has been concluded. On 28 July 2026 , the Group signed an annex to the revolving credit facility agreement with Erste Bank Polska S.A. extending the loan repayment period until 30 October 2026. On 31 August 2026, the Group signed an annex to the revolving credit facility agreement with mBank S.A. increasing the credit limit up to PLN 250 million and decreasing the credit margin. Apart from the events described above, no other significant events occurred after the reporting date that would require disclosure in these interim condensed consolidated financial statements. Warsaw, 29 September 2026 Eyal Keltsh President of the Management Board Artur Ceglarz Vice-President of the Management Board Marta Hejak Vice-President of the Management Board
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ROBYG S.A. Interim condensed standalone financial statements for 6 months ended 30 June 2026 (in PLN thousands) 43 ROBYG S.A. INTERIM CONDENSED STANDALONE FINANCIAL STATEMENTS FOR 6 MONTHS ENDED 30 JUNE 2026
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ROBYG S.A. Interim condensed standalone financial statements for 6 months ended 30 June 2026 (in PLN thousands) 44 INTERIM CONDENSED STANDALONE STATEMENT OF COMPREHENSIVE INCOME ........................45 INTERIM CONDENSED STANDALONE STATEMENT OF FINANCIAL POSITION ..................................46 INTERIM CONDENSED STANDALONE STATEMENT OF CASH FLOWS ...............................................47 INTERIM CONDENSED STANDALONE STATEMENT OF CHANGES IN EQUITY ...................................48 SELECTED EXPLANATORY NOTES .........................................................................................................49 1. GENERAL INFORMATION .....................................................................................................................49 2. IDENTIFICATION OF THE CONSOLIDATED FINANCIAL STATEMENTS ..........................................................49 3. APPROVAL OF THE FINANCIAL STATEMENTS, BASIS OF PREPARATION OF THE INTERIM CONDENSED STANDALONE FINANCIAL STATEMENTS .............................................................................................................49 4. SIGNIFICANT ACCOUNTING POLICIES ...................................................................................................50 5. SIGNIFICANT EVENTS OCCURRING IN THE PERIOD OF 6 MONTHS ENDED 30 JUNE 2026, INCLUDING THOSE HAVING IMPACT ON THE FINANCIAL RESULTS OF THE COMPANY .........................................................................51 6. SEASONALITY AND SEGMENTS OF OPERATIONS ...................................................................................51 7. DIVIDENDS PAID AND PROPOSED ........................................................................................................51 8. NOTES TO THE INTERIM CONDENSED STANDALONE STATEMENT OF COMPREHENSIVE INCOME ................51 9. CONTINGENT ASSETS AND LIABILITIES.................................................................................................52 10. EARNINGS PER SHARE .......................................................................................................................53 11. FINANCIAL ASSETS ............................................................................................................................53 12. CASH AND CASH EQUIVALENTS ...........................................................................................................54 13. TRADE AND OTHER RECEIVABLES .......................................................................................................54 14. EQUITY .............................................................................................................................................55 15. INTEREST-BEARING LOANS, BANK LOANS, LEASE LIABILITIES, BONDS AND OTHER FINANCIAL LIABILITIES ..55 16. RELATED PARTIES TRANSACTIONS......................................................................................................56 17. EVENTS AFTER THE REPORTING DATE .................................................................................................57
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ROBYG S.A. Interim condensed standalone financial statements for 6 months ended 30 June 2026 (in PLN thousands) 45 Selected explanatory notes included on pages 49 to 57 are an integral part of these interim condensed standalone financial statements. INTERIM CONDENSED STANDALONE STATEMENT OF COMPREHENSIVE INCOME Note 6 months ended 30 June 2026 (unaudited) 3 months ended 30 June 2026 (unaudited, not reviewed) 6 months ended 30 June 2025 (unaudited) 3 months ended 30 June 2025 (unaudited, not reviewed) Revenues from core operating activities 8.1 433 973 404 792 262 345 218 341 - including interest revenue 62 613 34 330 87 993 44 575 Costs of core operating activities 8.2 (28 793) (16 723) (50 660) (25 244) - including cost of interest (28 085) (16 395) (47 821) (22 641) Gross profit from core operating activities 405 180 388 069 211 685 193 097 Other income 133 - 87 - Selling expenses (50) - (122) (88) Administrative expenses (12 118) (10 156) (2 937) (1 376) Other expenses - - (7) (2) Profit from operating activities 393 145 377 913 208 706 191 631 Finance income 145 72 400 136 Finance costs (18) (3) (13) (4) Profit before tax 393 272 377 982 209 093 191 763 Income tax 8.3 (6 196) (3 250) (6 880) (3 555) Net profit for the period 387 076 374 732 202 213 188 208 Other comprehensive income Other comprehensive income to be reclassified to profit or loss in subsequent periods (net of tax): - - - - Total comprehensive income for the period, net of tax 387 076 374 732 202 213 188 208 Net earnings per share (in PLN per share) – basic and diluted, from profit for the period 10 4,01 3,87 2,10 1,95
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ROBYG S.A. Interim condensed standalone financial statements for 6 months ended 30 June 2026 (in PLN thousands) 46 Selected explanatory notes included on pages 49 to 57 are an integral part of these interim condensed standalone financial statements. INTERIM CONDENSED STANDALONE STATEMENT OF FINANCIAL POSITION Note 30 June 2026 (unaudited) 31 December 2025 ASSETS Non-current assets Property, plant and equipment 2 365 2 837 Financial assets (non-current) 11 2 060 288 1 619 123 2 062 653 1 621 960 Current assets Trade and other receivables 13 371 053 20 229 Income tax receivables - 227 Financial assets (short-term) 11 544 288 630 149 Prepayments 5 531 151 Cash and cash equivalents 12 96 202 81 570 1 017 074 732 326 TOTAL ASSETS 3 079 727 2 354 286 EQUITY AND LIABILITIES Equity Share capital 14.1 28 940 28 940 Share premium 548 263 548 263 Capital contribution paid, not registered 14.2 73 797 - Reserve capital 14.2 17 847 9 647 Retained earnings 1 415 046 1 027 970 2 083 893 1 614 820 Non-current liabilities Interest-bearing loans, borrowings, bonds and other financial liabilities 15 933 032 595 399 Deferred tax liabilities 46 176 41 818 979 208 637 217 Current liabilities Trade and other payables 3 026 1 223 Interest-bearing loans, borrowings, bonds and other financial liabilities 15 11 639 100 486 Income tax liabilities 1 614 - Accruals 347 540 16 626 102 249 Total liabilities 995 834 739 466 TOTAL EQUITY AND LIABILITIES 3 079 727 2 354 286
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ROBYG S.A. Interim condensed standalone financial statements for 6 months ended 30 June 2026 (in PLN thousands) 47 Selected explanatory notes included on pages 49 to 57 are an integral part of these interim condensed standalone financial statements. INTERIM CONDENSED STANDALONE STATEMENT OF CASH FLOWS Note 6 months ended 30 June 2026 (unaudited) 6 months ended 30 June 2025 (unaudited) Cash flows from operating activities Profit before tax 393 272 209 093 Adjustments for: Depreciation/Amortisation 377 362 (Gain)/Loss on the change in the fair value of derivatives (net) - 2 303 (Profit)/Loss from investing activities (130) - Revenues from dividend and advance payments for dividend 8.1 (369 328) (173 214) Revenues from interest and commissions on loans granted to related parties 8.1 (62 613) (87 993) Interest expense on bonds, bank loans, loans from related parties and leasing liabilities 8.2 26 885 46 930 Income from the amortisation of the valuation of financial guarantees 8.1 (547) (268) Foreign exchange (gains)/losses 8.1, 8.2 27 (12) Amortisation of bank commissions 8.2 1 269 973 Change in receivables (452) 636 Change in payables except loans and borrowings 1 803 (1 184) Change in accruals and prepayments (5 579) (528) Valuation of the share-based payment programme 14.2 8 200 - Total adjustments of profit before tax (400 088) (211 995) Other cash flows from operating activities: Dividend and advances for dividend received 19 571 26 492 Income tax paid - 22 Interest received on loans granted 11 45 027 11 602 Subrogation of loans (14 191) - Total other cash flows from operating activities 50 407 38 116 Net cash from operating activities 43 591 35 214 Cash flows from investing activities Disposal/(Purchase) of intangible assets and property, plant and equipment 224 - Repayment of loans granted – principal 11 347 584 231 913 Loans granted 11 (660 490) (502 574) Liquidation of subsidiaries 2 - Payments for the purchase/increase of investments in subsidiaries and jointly controlled entities (9 937) - Net cash from investing activities (322 617) (270 661) Cash flows from financing activities Repayment of finance lease liabilities (243) (274) Proceeds from issue of shares 73 797 Proceeds from bonds issuance - 400 000 Buy-out of bonds (88 200) (22 500) Proceeds from bank loans 729 779 391 796 Repayment of bank loans (646 258) (408 886) Proceeds from loans received 429 200 183 950 Repayment of loans received (176 753) (292 058) Interests and commissions paid (27 664) (23 702) Proceeds from SWAP settlements - 2 288 Net cash from financing activities 293 658 230 614 Net increase/(decrease) in cash and cash equivalents 14 632 (4 833) Net foreign exchange (gains)/losses - - Cash and cash equivalents at the beginning of the period 12 81 570 155 240 Cash and cash equivalents at the end of the period, of which: 12 96 202 150 407 - restricted cash 12 - -
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ROBYG S.A. Interim condensed standalone financial statements for 6 months ended 30 June 2026 (in PLN thousands) 48 Selected explanatory notes included on pages 49 to 57 are an integral part of these interim condensed standalone financial statements. INTERIM CONDENSED STANDALONE STATEMENT OF CHANGES IN EQUITY for 6 months ended 30 June 2026 (unaudited) Note Share capital Share premium Reserve capital Capital contribution paid, not registered Retained earnings Total equity As at 1 January 2026 28 940 548 263 9 647 - 1 027 970 1 614 820 Net profit for the period - - - - 387 076 387 076 Other comprehensive income - - - - - - Total comprehensive income for the period - - - - 387 076 387 076 Contributions for shares pending registration 14.2 - - - 73 797 - 73 797 Valuation of the share-based payment programme 14.2 - - 8 200 - - 8 200 As at 30 June 2026 28 940 548 263 17 847 73 797 1 415 046 2 083 893 for 6 months ended 30 June 2025 (unaudited) Share capital Share premium Reserve capital Retained earnings Total equity As at 1 January 2025 28 940 548 263 9 647 774 345 1 361 195 Net profit for the period - - - 202 213 202 213 Other comprehensive income - - - - - Total comprehensive income for the period - - - 202 213 202 213 As at 30 June 2025 28 940 548 263 9 647 976 558 1 563 408
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ROBYG S.A. Interim condensed standalone financial statements for 6 months ended 30 June 2026 (in PLN thousands) 49 SELECTED EXPLANATORY NOTES 1. GENERAL INFORMATION These interim condensed standalone financial statements of ROBYG S.A. (“ the Company”) cover the period of 6 months ended 30 June 2026. The Company’s core business activity is holding activities and advisory connected with business activities and management. 2. IDENTIFICATION OF THE CONSOLIDATED FINANCIAL STATEMENTS The Company prepared interim condensed consolidated financial statements for the period of 6 months ended 30 June 2026 which were approved for publication on 29 September 2026. 3. APPROVAL OF THE FINANCIAL STATEMENTS, BASIS OF PREPARATION OF THE INTERIM CONDENSED STANDALONE FINANCIAL STATEMENTS These interim condensed standalone financial statements were approved for publication by the Management Board on 29 September 2026. These interim condensed standalone financial statements have been prepared in accordance with International Accounting Standard 34 “Interim Financial Reporting”, (IAS 34). As at the date of approval of these financial statements for publication, in the light of the ongoing process of implementation of the IFRS by the EU, IFRS applicable to these interim condensed standalone financial statements do not differ from the EU IFRS. The IFRS-EU include standards and interpretations approved by the International Accounting Standards Board (“IASB”) and the International Financial Reporting Interpretations Committee (“IFRIC”), endorsed by EU. These interim condensed standalone financial statements have been prepared on a historical cost basis. When preparing these interim condensed standalone financial statements certain information and disclosures which in accordance with the IFRSs adopted by the European Union are normally included in full financial statements, have been condensed or omitted p ursuant to the provisions of IAS 34. These interim condensed standalone financial statements should be therefore read in conjunction with the Company’s recent full financial statements prepared for the year ended 31 December 2025 and approved for publication on 3 March 2026. These interim condensed standalone financial statements have been prepared on the assumption that the Company will continue as a going concern in the foreseeable future. As at the date of authorisation of these interim condensed standalone financial statements, the Management Board of ROBYG S.A. is not aware of any facts or circumstances that would indicate a threat to the continued activity of the Company. These interim condensed standalone financial statements are presented in Polish zloty (“PLN”) and all values are rounded to the nearest thousand (PLN ‘000) except when indicated otherwise.
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ROBYG S.A. Interim condensed standalone financial statements for 6 months ended 30 June 2026 (in PLN thousands) 50 4. SIGNIFICANT ACCOUNTING POLICIES 4.1. Changes in the accounting policies resulting from new and amended standards and interpretations The accounting rules (policies) used to prepare these interim condensed standalone financial statements are the same as those used to prepare the Company’s financial statements for the year ended 31 December 2025, with the exception of the below changes to the IFRS that have been adopted in these interim condensed standalone financial statements as of 1 January 2026. 4.1.1 New and amended standards and interpretations The following standards and amendments became effective as of 1 January 2026: • Amendments to IFRS 9 and Amendments to IFRS 7 regarding the classification and measurement of financial instruments; • Amendments to IFRS 9 and IFRS 7 Contracts Referencing Nature-dependent Electricity; • Annual Improvements to IFRS Standards – Volume 11: relating to IFRS 1, IFRS 7, IFRS 9, IFRS 10 and IAS 7, aimed at introducing minor clarifications and corrections. The application of the above amendment did not have a material impact on the interim condensed standalone financial statements for the period of 6 months ended 30 June 2026. 4.2. New standards and interpretations not yet effective The following standards and amendments to standards have been issued by the International Accounting Standards Board or by the International Financial Reporting Interpretations Committee, but are neither effective nor endorsed by the EU as of the date of these interim condensed standalone financial statements: • IFRS 19 Subsidiaries without Public Accountability: Disclosures – effective for annual periods beginning on or after 1 January 2027; • IFRS 20 Regulatory Assets and Regulatory Liabilities - effective for annual periods beginning on or after 1 January 2029; • Amendments to IFRS 19 Subsidiaries without Public Accountability: Disclosures – effective for annual periods beginning on or after 1 January 2027; • Amendments to IAS 28 Investments in Associates and Joint Ventures: Fair Value Option for Investments in Associates and Joint Ventures – effective for annual periods beginning on or after 1 January 2027; • Amendments to IAS 21 The Effects of Changes in Foreign Exchange Rates: Translation into a Presentation Currency – effective for annual periods beginning on or after 1 January 2027. The following standards have been adopted by the International Accounting Standards Board or the International Financial Reporting Interpretations Committee, but are not effective as at the date of preparation of th ese interim condensed standalone financial statements: • IFRS 18 Presentation and Disclosures in Financial Statements – effective for annual periods beginning on or after 1 January 2027. The Management Board is in the process of analysing the impact of the above standards and amendments on the financial statements in the period of their initial application. The results of this analysis will depend on a furthermore detailed analysis of the provisions of the standards, clarifications and additional interpretations issued by the International Accounting Standards Board. The Company has not early adopted any other standard, interpretation or amendment that was issued but is not yet effective.
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ROBYG S.A. Interim condensed standalone financial statements for 6 months ended 30 June 2026 (in PLN thousands) 51 5. SIGNIFICANT EVENTS OCCURRING IN THE PERIOD OF 6 MONTHS ENDED 30 JUNE 2026, INCLUDING THOSE HAVING IMPACT ON THE FINANCIAL RESULTS OF THE COMPANY Apart from the events described in Note 20 to the interim condensed consolidated financial statements of ROBYG S.A. Capital Group for the period of 6 months ended 30 June 202 6, there were no significant events concerning the Company. 6. SEASONALITY AND SEGMENTS OF OPERATIONS The operations of the Company are not subject to seasonality. The Company carries out its activities in one operating segment only (holding activities). All the Company’s revenues are generated in Poland. 7. DIVIDENDS PAID AND PROPOSED Information regarding dividends paid and proposed are presented in Note 1 4 to the interim condensed consolidated financial statements of the ROBYG S.A. Capital Group for the period of 6 months ended 30 June 2026. 8. NOTES TO THE INTERIM CONDENSED STANDALONE STATEMENT OF COMPREHENSIVE INCOME 8.1. Revenues from core operating activities 6 months ended 30 June 2026 (unaudited) 3 months ended 30 June 2026 (unaudited, not reviewed) 6 months ended 30 June 2025 (unaudited) 3 months ended 30 June 2025 (unaudited, not reviewed) Income from interest on loans granted to related parties 62 613 34 330 87 993 44 575 Income from dividends and advance payments for dividends (subsidiaries) 369 328 369 328 173 214 173 214 Income from amortisation of the valuation of financial guarantees 547 374 268 135 Revenues from related parties 432 488 404 032 261 475 217 924 Liquidation of subsidiaries 2 - - - Foreign exchange gains - - 12 - Other revenues 1 483 760 858 417 Revenues from non-related parties 1 485 760 870 417 Total revenues from core operating activities 433 973 404 792 262 345 218 341 8.2. Costs of core operating activities 6 months ended 30 June 2026 (unaudited) 3 months ended 30 June 2026 (unaudited, not reviewed) 6 months ended 30 June 2025 (unaudited) 3 months ended 30 June 2025 (unaudited, not reviewed) Interest and commissions on bonds and bank loans (25 265) (13 713) (20 434) (9 281) Interest on loans received (2 820) (2 682) (27 387) (13 360) Cost of interests (28 085) (16 395) (47 821) (22 641) Foreign currency exchange losses (27) (5) - (21) Costs of providing financing arrangement services (612) (290) (454) (247) Loss on the change in the fair value of derivatives - - (2 303) (2 295) Other (69) (33) (82) (40) Total costs of core operating activities (28 793) (16 723) (50 660) (25 244)
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ROBYG S.A. Interim condensed standalone financial statements for 6 months ended 30 June 2026 (in PLN thousands) 52 8.3. Reconciliation of the effective income tax rate 6 months ended 30 June 2026 (unaudited) 3 months ended 30 June 2026 (unaudited, not reviewed) 6 months ended 30 June 2025 (unaudited) 3 months ended 30 June 2025 (unaudited, not reviewed) Gross profit before tax 393 272 377 982 209 093 191 763 At statutory income tax rate of 19% (2025: 19%) (74 722) (71 817) (39 728) (36 435) Non-deductible expenses Reserve for the share-based payment programme (1 558) (1 558) - - Other (88) (47) (63) (31) Non-taxable income Received and declared dividends, advance payments for dividends, and profit sharing from subsidiaries 70 172 70 172 32 911 32 911 At the effective income tax rate of 1,58% and 0,86% (2025: 3,29% and 1,85%) (6 196) (3 250) (6 880) (3 555) Income tax (charges) recorded in the standalone statement of comprehensive income (6 196) (3 250) (6 880) (3 555) 9. CONTINGENT ASSETS AND LIABILITIES 9.1. Granted guarantees As at 30 June 2026 the total value of guarantees provided by the Company to the banks (in connection with the bank loans and other agreements secured by bank guarantees granted to the Company’s subsidiaries ) amounted to PLN 360 306 thousand. The Company is the guarantor of payments to contractors for the delivery of goods ordered in connection with the execution of the Group's development projects and certain services rendered by the Group companies. A summary of those guarantees as of 30 June 2026 is presented in the table below: Guarantor Contractor Subject of guarantee Up to amount From Until ROBYG S.A. Miasto Poznań Building public infrastructure 34 059 15.10.2021 31.12.2026 ROBYG S.A. Miasto Poznań Building public infrastructure 9 056 15.10.2021 30.09.2028 ROBYG S.A. Stal-Service Sp. z o.o. Trade payables 700 26.01.2026 30.12.2026 ROBYG S.A. Stal-Service Sp. z o.o. Trade payables 1 907 31.10.2025 31.10.2026 ROBYG S.A. Cemex Polska Sp. z o.o. Trade payables 650 16.02.2026 01.10.2026 ROBYG S.A. Cemex Polska Sp. z o.o. Trade payables 900 03.11.2025 31.01.2027 ROBYG S.A. Przedsiębiorstwo Produkcyjno- Handlowe "ABET" Sp. z o.o. Trade payables 4 000 01.04.2026 31.03.2027 ROBYG S.A. Przedsiębiorstwo Produkcyjno- Handlowe "ABET" Sp. z o.o. Trade payables 2 300 21.07.2025 30.06.2026 ROBYG S.A. Przedsiębiorstwo Produkcyjno- Handlowe "ABET" Sp. z o.o. Trade payables 2 300 01.08.2025 30.06.2026 ROBYG S.A. LUXMED Sp. z o.o. Trade payables 1 135 04.06.2019 08.07.2026 ROBYG S.A. RBC Property Sp. z o.o. Trade payables 1 050 25.06.2025 20.02.2030 Total 58 057 The Company’s revenues for establishing of securities for the repayment of credit facilities, in particular, for the guarantees provided for the related parties, recognized in profit and loss for the period of 6 months ended 30 June 2026 amounted to PLN 547 thousand and for the period of 6 months ended 30 June 202 5 amounted to PLN 268 thousand. The valuation of financial guarantees (expected credit losses) is immaterial. 9.2. Received guarantees As at 30 June 2026, in order to secure the granted bank loans, the Company received guarantees from its subsidiaries for total amount of PLN 705 000 thousand.
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ROBYG S.A. Interim condensed standalone financial statements for 6 months ended 30 June 2026 (in PLN thousands) 53 10. EARNINGS PER SHARE The following reflects the income and share data used in the calculation of basic earnings per share: 6 months ended 30 June 2026 (unaudited) 3 months ended 30 June 2026 (unaudited, not reviewed) 6 months ended 30 June 2025 (unaudited) 3 months ended 30 June 2025 (unaudited, not reviewed) Net profit 387 076 374 732 202 213 188 208 Weighted average number of issued ordinary shares used to calculate basic earnings per share 96 614 132 96 759 581 96 467 066 96 467 066 Basic earnings per share (in PLN per share) 4,01 3,87 2,10 1,95 In the periods of 6 months ended 30 June 2026 and 30 June 2025, there were no dilutive instruments. On 25 March 2026, an Extraordinary General Meeting of the Company was held, during which a number of resolutions were passed concerning operations on the Company’s share capital (details of the resolutions passed are described in Note 19 to the interim condensed consolidated financial statements ). These concerned, amongst other things, the consolidation of all the Company’s shares, as a result of which the Company’s share capital is to be divided into 96 467 066 Series A ordinary bearer shares, with a nominal value of PLN 0,30 per share. Registra tion in the National Court Register was completed on 5 May 2026. In addition, the Meeting also adopted a resolution on increasing the Company’s share capital by the issue of 9 646 706 new Series B ordinary bearer shares, with a nominal value of PLN 0,30 each (with rights identical to those of Series A shares). Registration of the increased share capital in the National Court Register was completed on 10 August 2026. On 12 June 2026, the Extraordinary General Meeting of the Company adopted a resolution (subsequently amended by a resolution adopted by the Extraordinary General Meeting dated 15 June 2026), increasing the Company’s share capital through the issuance of 2 411 677 new Series C ordinary shares addressed to selected key managers of the Group, with a nominal value of PLN 0,30 each. Registration of the increased share capital in the National Court Register was completed on 18 August 2026. In the period of 6 months ended 30 June 2026, the Company calculated the basic earnings per share using the weighted average number of ordinary shares considering the consolidation of Series A shares and the issuance of Series B and Series C shares. In the periods of 6 months ended 30 June 2025 the Company calculated the basic earnings per share using the number of shares remaining after the consolidation, i.e. 96 467 066 shares. 11. FINANCIAL ASSETS 30 June 2026 (unaudited) 31 December 2025 Loans granted (1) 2 045 284 1 700 601 Shares in subsidiaries and joint ventures (2) 557 289 547 352 Receivables from guarantees granted 1 680 996 Other 323 323 Total financial assets 2 604 576 2 249 272 - current 544 288 630 149 - non-current 2 060 288 1 619 123
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ROBYG S.A. Interim condensed standalone financial statements for 6 months ended 30 June 2026 (in PLN thousands) 54 (1) Loans granted to related parties: 30 June 2026 30 June 2026 30 June 2026 30 June 2025 30 June 2025 30 June 2025 12-month ECL Lifetime ECL – with no impairment Total 12-month ECL Lifetime ECL – with no impairment Total Opening balance as at 1 January 1 700 601 - 1 700 601 1 799 864 - 1 799 864 New loans granted, including: - cash 660 490 - 660 490 502 574 - 502 574 - non-cash - - - - - - Repayment of loan principal, including: - cash (347 584) - (347 584) (231 913) - (231 913) - non-cash - - - - - - Interest received on loans granted - cash (45 027) - (45 027) (11 602) - (11 602) - non-cash - - - - - - Accrued interest 62 613 - 62 613 87 993 - 87 993 Acquisition of receivables (principal and interest) 14 191 - 14 191 - - - Closing balance as at 30 June 2 045 284 - 2 045 284 2 146 916 - 2 146 916 (2) Shares in subsidiaries and joint ventures: 2026 (unaudited) 2025 (unaudited) Opening balance as at 1 January 547 352 540 219 Acquisition and establishing of new companies 9 937 - Closing balance as at 30 June 557 289 540 219 As at 30 June 202 6 as well as at 30 June 202 5, no registered pledges on the shares in subsidiaries of the Company were established for the benefit of the banks financing the activities of those subsidiaries. 12. CASH AND CASH EQUIVALENTS 30 June 2026 (unaudited) 31 December 2025 Cash at bank and in hand 362 270 Short-term deposits 95 840 81 300 Cash and cash equivalents presented in the interim condensed standalone statement of cash flows and statement of financial position 96 202 81 570 13. TRADE AND OTHER RECEIVABLES 30 June 2026 (unaudited) 31 December 2025 Trade receivables from non-related parties 322 298 Trade receivables from related parties (details in Note 16) 1 014 337 Tax receivables (with the exception of income tax receivables) 361 8 Other receivables from related parties (from dividends and advance payments for dividends) (details in Note 16) 369 328 19 571 Other receivables 28 15 Total receivables, net 371 053 20 229 Allowance for expected credit losses - - Total receivables, gross 371 053 20 229
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ROBYG S.A. Interim condensed standalone financial statements for 6 months ended 30 June 2026 (in PLN thousands) 55 14. EQUITY 14.1. Share capital The share capital of ROBYG S.A. as at 3 0 June 2026 amounted to PLN 28 940 119,80 and was divided into 96 467 066 Series A ordinary bearer shares, with a nominal value of 0,30 PLN per share, entitling the holder to one vote at the Company’s General Meeting. Details of the changes that related to the Company’s share capital have been described in Note 19.1 to the Company’s interim condensed consolidated financial statements. 14.2. Share-based payment programme On 12 June 2026, the Extraordinary General Meeting of the Company adopted a resolution (subsequently amended by a resolution adopted by the Extraordinary General Meeting dated 15 June 2026), increasing the Company’s share capital through the issuance of 2 411 677 new Series C ordinary shares addressed to selected key managers of the Group, with a nominal value of PLN 0,30 each. Details of the share-based payment programme have been described in Note 19.3 to the Company’s interim condensed consolidated financial statements. The programme is classified as an equity-settled share-based payment programme. The total value of the programme amounts to PLN 8 200 thousand and as at 30 June 2026 has been presented as part of Reserve capital, within the Company’s equity and expensed within the administrative expenses. 15. INTEREST-BEARING LOANS, BANK LOANS, LEASE LIABILITIES, BONDS AND OTHER FINANCIAL LIABILITIES 30 June 2026 (unaudited) Current part of interest-bearing loans, borrowings, bonds and other financial liabilities Non-current part of interest- bearing loans, borrowings, bonds and other financial liabilities Total Lease liabilities (cars) 216 605 821 Lease liabilities (office space) 300 848 1 148 Financial guarantees 1 398 8 1 406 Bank loans (1) - 207 501 207 501 Bonds (2) 9 725 469 638 479 363 Loans from related parties (3) - 254 432 254 432 11 639 933 032 944 671 1) Nominal interest rate based on WIBOR 1M increased by a margin. 2) Nominal interest rate based on WIBOR 6M increased by a margin which varied from 2.4% to 2.6%. 3) Details in Note 16 31 December 2025 Current part of interest-bearing loans, borrowings, bonds and other financial liabilities Non-current part of interest- bearing loans, borrowings, bonds and other financial liabilities Total Lease liabilities (cars) 208 715 923 Lease liabilities (office space) 285 985 1 270 Financial guarantees 437 216 653 Bank loans (1) - 124 432 124 432 Bonds (2) 99 556 469 051 568 607 100 486 595 399 695 885 1) Nominal interest rate based on WIBOR 1M increased by a margin. 2) Nominal interest rate based on WIBOR 6M increased by a margin which varied from 2.4% to 2.6%.
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ROBYG S.A. Interim condensed standalone financial statements for 6 months ended 30 June 2026 (in PLN thousands) 56 16. RELATED PARTIES TRANSACTIONS Transactions with related parties of the Company in the period of 6 months ended 30 June 2026: Related party Revenues Purchases Interest expense on loans received Shareholders 294 (1) - - Subsidiaries 428 764 (2) 645 2 820 Joint ventures 3 841 - - Vantage Development S.A. Group - 14 - Total 432 899 659 2 820 (1) Revenues from re-invoices of audit costs, which were compensated in these interim condensed standalone financial statements with the costs pertaining to these re-invoices. (2) As part of the 'Revenues' PLN 369 328 thousand related to dividends that have been declared for the benefit of ROBYG S.A. Revenues from re-invoices which were compensated in these interim condensed standalone financial statements with the costs pertaining to these re -invoices amount to PLN 117 thousand. Balances with related parties of the Company as at 30 June 2026: Related party Trade and other payables Trade and other receivables Loans received Loans granted Shareholders - - - - Subsidiaries 94 370 234 254 432 1 924 493 Joint ventures - 431 - 120 791 Vantage Development S.A. Group - - - - Total 94 370 665 (3) 254 432 2 045 284 (3) As part of the 'Trade and other receivables' PLN 369 328 thousand related to dividends that have been declared for the benefit of ROBYG S .A but unpaid as at 30 June 202 6. Trade receivables amount to PLN 1 014 thousand and deposits presented as short-term financial assets amount to PLN 323 thousand. Transactions with related parties of the Company in the period of 6 months ended 30 June 2025: Related party Revenues Purchases Interest expense on loans received Shareholders 284 (1) - - Subsidiaries 255 327 (2) 644 27 387 Joint ventures 6 387 (2) - - Vantage Development S.A. Group 5 (2) 5 - Total 262 003 649 27 387 (1) Revenues from re-invoices of audit costs, which were compensated in these interim condensed standalone financial statements with the costs pertaining to these re-invoices. (2) As part of the 'Revenues' PLN 173 214 thousand related to dividends that have been declared for the benefit of ROBYG S.A. Revenues from re-invoices which were compensated in these interim condensed standalone financial statements with the costs pertaining to these re -invoices amount to PLN 244 thousand. Balances with related parties of the Company as at 31 December 2025: Related party Trade and other payables Trade and other receivables Loans received Loans granted Shareholders - 4 - - Subsidiaries 745 20 227 - 1 583 515 Joint ventures - - - 117 086 Total 745 20 231 (2) - 1 700 601 (3) As part of the 'Trade and other receivables' PLN 19 571thousand related to dividends that have been declared for the benefit of ROBYG S .A but unpaid as at 31 December 202 5. Trade receivables amount to PLN 337 thousand and deposits presented as short-term financial assets amount to PLN 323 thousand.
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ROBYG S.A. Interim condensed standalone financial statement for 6 months ended 30 June 2026 (in thousands of PLN) 57 Details related to the changes of the loans granted to related parties in the period of 6 months ended 30 June 2026 are presented in Note 11 to these interim condensed standalone financial statements. 17. EVENTS AFTER THE REPORTING DATE On 30 June 2026, the Management Board of the Warsaw Stock Exchange adopted a resolution on the admission of the Company’s shares to trading on the regulated (main) market operated by the Warsaw Stock Exchange. The date of introduction to and the first listing has been set for 2 July 2026. The settlement of Series B shares in the amount of PLN 321 521 thousand net took place on 11 August 2026. The registration of the share capital increase connected with the Series B shares in the National Court Register took place on 10 August 2026. On 9 July 2026, the Company entered into a joint venture agreement with Mam Projekt Sp. z o.o. with the purpose of the joint realisation of a residential project located in Warsaw. The Company concluded also a preliminary share sale agreement for the sale of 49% of shares in the share capital of ROBYG 21 Sp. z o.o. to Mam Projekt Sp. z o.o. On 1 September 2026, the President of the Office of Competition and Consumer Protection granted consent for the concentration. On 24 September 2026 the final agreement for the sale of shares has been concluded. On 31 August 2026, the Group signed an annex to the revolving credit facility agreement with mBank S.A. increasing the credit limit up to PLN 250 million and decreasing the credit margin. Apart from the events described above, there were no other significant events after the reporting date that should be included in these interim condensed standalone financial statements. Warsaw, 29 September 2026 Eyal Keltsh President of the Management Board Artur Ceglarz Vice - President of the Management Board Marta Hejak Vice - President of the Management Board