SzB_DataWalk_SSF-2025-12-31-1-en.xhtml

Audit | Outsourcing | Tax | Consulng

UHY ECA Audyt Sp. z o.o. – member of UHY International, a network of independent accounting and consulting firms

UHY ECA Audyt Sp. z o.o.

Połczyńska 31A

01-377 Warszawa

E biuro@uhy-pl.com

uhy

pl.com

INDEPENDENT AUDITOR’S REPORT ON THE AUDIT

For the General Meeng and Supervisory Board of DataWalk S.A.

Report on the audit of the annual consolidated ﬁnancial statements

Opinion

We have audited the annual consolidated ﬁnancial statements of DataWalk Capital Group (the ‘Group’),

in which the parent company is DataWalk S.A. (the ‘Parent Company’), which comprise the

consolidated statement of ﬁnancial posion as at 31 December 2025 and the consolidated income

statement, together with the statement of comprehensive income, consolidated statement of changes

in equity, consolidated statement of cash ﬂows for the ﬁnancial year from 1 January to 31 December

2025 and selected notes, explanatory notes and other explanatory notes to the consolidated ﬁnancial

statements (the ‘consolidated ﬁnancial statements’).

In our opinion, the accompanying consolidated ﬁnancial statements:

 give a true and fair view of the consolidated property and ﬁnancial posion of the Group as at

31 December 2025 and of its consolidated ﬁnancial performance and its consolidated cash

ﬂows for the year then ended in accordance with required applicable rules of Internaonal

Financial Reporng Standards approved by the European Union (IFRSs) and with the

accounng principles (policy) adopted;

 comply in respect of the form and content with laws applicable to the Group and the Parent

Company’s Statute.

This opinion is consistent with the addional report to the Audit Commiee issued on 30 March 2026.

Basis for opinion

We conducted our audit in accordance with the Naonal Auding Standards in the wording of the

Internaonal Auding Standards adopted by Resoluon No. 3430/52a/2019 of the Naonal Council of

Statutory Auditors of 21 March 2019 on naonal auding standards and other documents, as

amended, and the Resoluon of the Board of the Polish Agency for Audit Oversight No. 38/I/2022 of

15 November 2022 on naonal quality control standards and Naonal Auding Standard 220

(Amended) (‘NAS’), as well as pursuant to the Act of 11 May 2017 on Statutory Auditors, Audit Firms

and Public Oversight (i.e. Journal of Laws of 2025 item 1891 – the ‘Act on Statutory Auditors’) and the

Regulaon (EU) No. 537/2014 of 16 April 2014 on speciﬁc requirements regarding statutory audit of

public interest enes (Oﬃcial Journal of the European Union UE L158 of 27 May 2014, p. 77, as

amended – the ‘EU Regulaon’). Our responsibilies under those standards are further described in

Audit | Outsourcing | Tax | Consulng

UHY ECA Audyt Sp. z o.o. – member of UHY International, a network of independent accounting and consulting firms

UHY ECA Audyt Sp. z o.o.

Połczyńska 31A

01-377 Warszawa

E biuro@uhy-pl.com

uhy

pl.com

the Auditor's responsibilies for the audit of the consolidated ﬁnancial statements’ secon of our

report.

We believe that the audit evidence we have obtained is suﬃcient and appropriate to provide a basis

for our opinion.

Independence and ethics

We are independent of the Group companies in accordance with the Internaonal Code of Ethics for

Professional Accountants (including Internaonal Independence Standards) of the Internaonal Ethics

Standards Board for Accountants adopted by resoluon of the Naonal Council of Statutory Auditors

No. 3431/52a/2019 of 25 March 2019 on the principles of professional ethics of statutory auditors,

as amended (the ‘IESBA Code’) and with other ethical requirements that are relevant to our audit of

ﬁnancial statements in Poland. We have fulﬁlled our other ethical responsibilies in accordance with

those requirements and the IESBA Code. While conducng the audit, the key cerﬁed auditor and the

audit ﬁrm remained independent of the Group companies in accordance with the independence

requirements set out in the Act on Statutory Auditors and in the EU Regulaon.

Key Audit Maers

Key audit maers are those maers that, in our professional judgment, were of most signiﬁcance in

our audit of the consolidated ﬁnancial statements of the current period. They include the most

signiﬁcant assessed risks of material misstatement, including the assessed risks of material

misstatement due to fraud. These maers were addressed in the context of our audit of the

consolidated ﬁnancial statements as a whole, and in forming our opinion thereon and have

summarised our reacon to these risks and in cases where we deemed it necessary, we presented the

most important observaons related to these types of risks. We do not provide a separate opinion on

these maers.

Key Audit Matter How our audit responded to this matter

COMPLETED DEVELOPMENT WORKS

The Group carried out development work in

prior periods relating to the development of

information technology concerning a business

asset understood as the DataWalk platform. As

at 31 December 2025, the Group recognises

completed development costs in its

consolidated financial statements amounting to

TPLN 15,696, representing 14.5 % of total assets.

Our procedures on the identified key audit

matter included, but were not limited to, the

following:

 obtaining an understanding and evaluating the

process for identification, approval and

classification of development expenditures as

intangible assets, including in relation to assets

brought into use in 2025,

Audit | Outsourcing | Tax | Consulng

UHY ECA Audyt Sp. z o.o. – member of UHY International, a network of independent accounting and consulting firms

UHY ECA Audyt Sp. z o.o.

Połczyńska 31A

01-377 Warszawa

E biuro@uhy-pl.com

uhy

pl.com

In the current year, the Group decided to cease

capitalisation of development costs. The

completed development costs recognised in the

consolidated financial statements were subject

to an impairment test, the performance of which

required the application of significant

management judgment and estimates, in

particular with respect to projected future cash

flows and the assumptions adopted.

This matter was considered a key audit matter

due to the materiality of the carrying amount of

the asset, the change in the Group’s approach to

the capitalisation of development costs, and the

high level of management judgment involved in

performing the impairment test.

Reference to disclosures in the consolidated

financial statements

Details regarding the capitalisation of

development expenditures (including

information on the results of the impairment

test performed) are disclosed in notes 2.1, 2.2,

2.3, 2.4 and 29 to the consolidated financial

statements, while the accounting policies are

described in the explanatory notes to the

consolidated financial statements.



verifying the compliance of the Group’s

accounting policies with the requirements of

IAS 38, including with respect to the cessation

of further capitalisation of development costs,

 performing detailed substantive procedures

regarding the accuracy of allocation and

completeness of development expenditures,

including costs capitalised in the current

period,

 evaluating the impairment test performed,

including its mathematical accuracy, the

reasonableness of key assumptions adopted

and the consistency of financial projections

with the Group’s approved plans,

 performing sensitivity analysis of the test to

changes in key assumptions, in particular the

level of projected cash flows and the discount

rate,

 discussing with the Management of the parent

company and other authorised personnel the

key assumptions adopted for the impairment

test and the rationale for ceasing further

capitalisation of costs,

 analysing the disclosures included in the

consolidated financial statements with respect

to completed development costs and the

impairment test performed.

SALES REVENUES

The procedures we performed at the entity

understanding stage, together with our data

analysis, resulted in the identification of a risk

related to the recognition and measurement of

revenue from sales. The risk of improper

revenue recognition may arise in particular from

fraud involving the recognition of revenue from

the sale of goods and services in an incorrect

period.

Our procedures on the identified key audit

matter included, but were not limited to, the

following:

 reviewing the accounting policies related to

revenue recognition and assessing their

compliance with IFRS 15,

 obtaining an understanding of the sales

process and evaluating the design and

Audit | Outsourcing | Tax | Consulng

UHY ECA Audyt Sp. z o.o. – member of UHY International, a network of independent accounting and consulting firms

UHY ECA Audyt Sp. z o.o.

Połczyńska 31A

01-377 Warszawa

E biuro@uhy-pl.com

uhy

pl.com

This matter was considered a key audit matter

due to the materiality of the amounts involved,

as well as the fact that the method of recognising

and measuring revenue in the consolidated

financial statements requires significant

estimates and management judgment.

Reference to disclosures in the consolidated

financial statements

Disclosures relating to detailed information on

revenue are presented in notes 22.1, 22.2, 22.3

and 22.4 to the consolidated financial

statements, while the accounting policies are

described in the explanatory notes to the

consolidated financial statements.

implementation of internal controls in this

area,

 performing analytical procedures, in particular

analysing monthly data and trends,

 performing detailed substantive testing of

revenue recognised during the year based on

a selected sample,

 testing a sample of transactions around the

year-end (December 2025 / January 2026) and

independently assessing the appropriateness

of revenue recognition by reference to

supporting documentation,

 obtaining confirmations of receivables

balances from a selected sample of customers

as at the reporting date,

 analysing unusual transactions and revenue

adjustments recorded after the reporting

date,

 assessing the adequacy of revenue-related

disclosures in light of the requirements of IFRS

15 in the consolidated financial statements.

Responsibilies of the Parent Company’s Management and members of the Supervisory Board for the

consolidated ﬁnancial statements

The Parent Company’s Management is responsible for the preparaon of the consolidated ﬁnancial

statements that give a true and fair view of the property and ﬁnancial posion of the Group and of its

ﬁnancial performance in accordance with the required applicable rules of Internaonal Financial

Reporng Standards approved by the European Union, the adopted accounng principles (policy) and

with the Group’s applicable legal regulaons and Statute and is also responsible for such internal

control as the Parent Company’s Management determines is necessary to enable the preparaon of

the consolidated ﬁnancial statements that are free from material misstatement, whether due to fraud

or error.

In preparing the consolidated ﬁnancial statements, the Parent Company's Management is responsible

for assessing the Group's ability to connue as a going concern, disclosing, as applicable, maers

related to going concern and using the going concern basis of accounng unless the Parent Company’s

Management either intends to liquidate the Group or to cease operaons, or has no realisc alternave

but to do so.

Audit | Outsourcing | Tax | Consulng

UHY ECA Audyt Sp. z o.o. – member of UHY International, a network of independent accounting and consulting firms

UHY ECA Audyt Sp. z o.o.

Połczyńska 31A

01-377 Warszawa

E biuro@uhy-pl.com

uhy

pl.com

The Parent Company’s Management and members of the Supervisory Board are required to ensure

that the consolidated ﬁnancial statements meet the requirements of the Accounng Act of 29

September 1994 (i.e. Journal of Laws of 2023 item 120 as amended – the ‘Accounng Act’). The

members of the Parent Company’s Supervisory Board are responsible for overseeing the ﬁnancial

reporng process.

Auditor's responsibility for the audit of the consolidated ﬁnancial statements

Our objecves are to obtain reasonable assurance about whether the consolidated ﬁnancial

statements as a whole are free from material misstatement, whether due to fraud or error, and to issue

an auditor’s report that includes our opinion. Reasonable assurance is a high level of assurance, but is

not a guarantee that an audit conducted in accordance with NAS will always detect a material

misstatement when it exists. Misstatements may arise as a result of fraud or error and are considered

material if they, individually or in the aggregate, could reasonably be expected to inﬂuence the

economic decisions of users taken on the basis of these consolidated ﬁnancial statements.

The scope of the audit does not include assurance on the future proﬁtability of the Group nor eﬃciency

or eﬀecveness of conducng business maers now or in the future by the Parent Company’s

Management.

As part of an audit in accordance with NAS, we use professional judgment and maintain professional

scepcism and we also:

 idenfy and assess the risks of material misstatement of the consolidated ﬁnancial statements,

whether due to fraud or error, design and perform audit procedures responsive to those risks,

and obtain audit evidence that is suﬃcient and appropriate to provide a basis for our opinion.

The risk of not detecng a material misstatement resulng from fraud is higher than for one

resulng from error, as fraud may involve collusion, forgery, intenonal omissions,

misrepresentaons or override of internal control;

 obtain an understanding of internal control relevant to the audit in order to design audit

procedures that are appropriate in the circumstances, but not for the purpose of expressing an

opinion on the eﬀecveness of the Group’s internal control;

 evaluate the appropriateness of accounng principles (policy) used and the reasonableness of

accounng esmates and related disclosures made by the Parent Company’s Management;

 conclude on the appropriateness of the Parent Company’s Management’s use of the going

concern basis of accounng and, based on the audit evidence obtained, whether a material

uncertainty exists related to events or condions that may cast signiﬁcant doubt on the Group’s

ability to connue as a going concern. If we conclude that a material uncertainty exists, we are

required to draw aenon in our independent auditor’s report to the related disclosures in the

consolidated ﬁnancial statements or, if such disclosures are inadequate, to modify our opinion.

Audit | Outsourcing | Tax | Consulng

UHY ECA Audyt Sp. z o.o. – member of UHY International, a network of independent accounting and consulting firms

UHY ECA Audyt Sp. z o.o.

Połczyńska 31A

01-377 Warszawa

E biuro@uhy-pl.com

uhy

pl.com

Our conclusions are based on the audit evidence obtained up to the date of our independent

auditor’s report, however, future events or condions may cause the Group to cease to

connue as a going concern;

 evaluate the overall presentaon, structure and content of the consolidated ﬁnancial

statements, including the disclosures, and whether the consolidated ﬁnancial statements

represent the underlying transacons and events in a manner that achieves fair presentaon;

 we obtain suﬃcient appropriate audit evidence regarding the ﬁnancial informaon of enes

and business acvies within the Group for the purpose of expressing an opinion on the

consolidated ﬁnancial statements. We are solely responsible for the direcon, supervision and

performance of the audit of the Group and we remain solely responsible for our audit opinion.

We communicate to the Parent Company’s Supervisory Board on, among other maers, the planned

scope and ming of the audit and signiﬁcant audit ﬁndings, including any signiﬁcant deﬁciencies in

internal control that we idenfy during our audit.

We also provide to the Parent Company’s Supervisory Board with a statement that we have complied

with relevant ethical requirements regarding independence, and communicate to them all

relaonships and other maers that may reasonably be thought to bear on our independence, and

where applicable, acons taken to eliminate threats or safeguards applied.

From the maers communicated to the Parent Company’s Supervisory Board, we determine those

maers that were of most signiﬁcance in the audit of the consolidated ﬁnancial statements of the

current period and are therefore the key audit maers. We describe these maers in our auditor’s

report unless law or regulaon precludes public disclosure about the maer or when, in extremely rare

circumstances, we determine that a maer should not be communicated in our report because the

adverse consequences of doing so would reasonably be expected to outweigh the public interest

beneﬁts of such communicaon.

Other informaon, including Group Acvity Report

Other informaon

Other informaon comprises Group Acvity Report as at 31 December 2025 (the ‘Group Acvity

Report’) together with the representaon on applicaon of corporate governance, which are separate

elements of this Group Acvity Report, and the Annual Report for the ﬁnancial year ended 31

December 2025 (the ‘Annual Report’) (together the ‘Other informaon’).

Responsibilies of the Parent Company’s Management and members of the Supervisory Board

The Parent Company’s Management is responsible for the preparaon of the Other informaon in

accordance with laws.

Audit | Outsourcing | Tax | Consulng

UHY ECA Audyt Sp. z o.o. – member of UHY International, a network of independent accounting and consulting firms

UHY ECA Audyt Sp. z o.o.

Połczyńska 31A

01-377 Warszawa

E biuro@uhy-pl.com

uhy

pl.com

The Parent Company’s Management and members of the Supervisory Board are required to ensure

that the Group Acvity Report with separate elements meets the requirements of the Accounng Act.

Auditor's responsibility

Our audit opinion on the consolidated ﬁnancial statements does not include the Other informaon.

In connecon with the audit of the consolidated ﬁnancial statements, our responsibility is to read the

Other informaon and, in doing so, to consider, whether the Other informaon is materially

inconsistent with the consolidated ﬁnancial statements or our knowledge obtained during the audit or

otherwise appears to be materially misstated. If, based on the work we have performed, we conclude

that there are material misstatements in this Other informaon, we are required to report that fact in

our independent auditor’s report.

We have nothing to report regarding Other Informaon.

Our responsibility in accordance with the Act on Statutory Auditors is also to issue an opinion on

whether the Group Acvity Report, to the extent not relevant to sustainability reporng, was prepared

in accordance with laws and that it is consistent with the informaon contained in the consolidated

ﬁnancial statements. Moreover, we are required to issue an opinion on whether the Group has included

the required informaon in the representaon on applicaon of corporate governance.

We obtained the Group Acvity Report before the date of this audit report and the Annual Report will

be available aer that date. In the event that we idenfy a material misstatement in the Annual Report,

we are required to inform the Parent Company's Supervisory Board.

Opinion on the Group Acvity Report

Based on the work performed during our audit, in our opinion, the Group Acvity Report:

 has been prepared in accordance with the arcle 49 of the Accounng Act and paragraph 73

of the Decree of the Minister of Finance of 6 June 2025 on current and periodic informaon

published by issuers of securies and condions for recognion as equivalent the informaon

required by laws of non-EU member states (Journal of Laws of 2025 item 755– ‘Decree on

current informaon’);

 is consistent with the informaon contained in the consolidated ﬁnancial statements.

Statement on the Group Acvity Report

We cerfy that, based on our knowledge of the Group and its environment obtained during our audit,

we have not idenﬁed material misstatements in the Group Acvity Report.

Opinion on the corporate governance representaon

Audit | Outsourcing | Tax | Consulng

UHY ECA Audyt Sp. z o.o. – member of UHY International, a network of independent accounting and consulting firms

UHY ECA Audyt Sp. z o.o.

Połczyńska 31A

01-377 Warszawa

E biuro@uhy-pl.com

uhy

pl.com

In our opinion, in the representaon on applicaon of corporate governance, the Group has included

informaon spulated in paragraph 72, secon 7, point 5 of the Decree on current informaon.

Moreover, in our opinion, the informaon spulated in paragraph 72, secon 7, point 5 leer c-f, h and

i of the Decree included in the representaon on applicaon of corporate governance is in accordance

with applicable laws and informaon included in the consolidated ﬁnancial statements.

Report on other legal and regulatory requirements

Opinion on the compliance of the consolidated ﬁnancial statements prepared in the single electronic

reporng format with the requirements of the regulaon on technical standards on the speciﬁcaon of

a single electronic reporng format.

As part of our audit of the consolidated ﬁnancial statement, we were engaged to perform an assurance

engagement to obtain reasonable assurance in order to express an opinion on whether the

consolidated ﬁnancial statements of the Group for the year ended 31 December 2025 prepared in the

single electronic reporng format including in the ﬁle named DAT-2025-31-12-1-pl (the ‘consolidated

ﬁnancial statements in ESEF format’), was tagged in accordance with the regulaons speciﬁed in

Commission Delegated Regulaon (EU) No 2019/815 of 17 December 2018 supplemenng Direcve

2004/109/EC of the European Parliament and of the Council with regard to regulatory technical

standards on the speciﬁcaons of a single electronic reporng format (Oﬃcial Journal of the European

Union UE L 143 of 29 May 2019, p. 1, as amended – the ‘ESEF Regulaon’).

Idenﬁcaon of criteria and descripon of the object of the service

The consolidated ﬁnancial statements in ESEF format were prepared by the Parent Company’s

Management in order to meet the tagging and technical requirements of the single electronic reporng

format which are speciﬁed in the ESEF Regulaon.

The subject maer of our assurance engagement is the compliance veriﬁcaon of the consolidated

ﬁnancial statements in ESEF format against the requirements of the ESEF Regulaons, while the

requirements speciﬁed in these regulaons represent, in our opinion, applicable criteria for us to

express an opinion providing reasonable assurance.

Responsibility of the Parent Company’s Management and members of the Supervisory Board

The Parent Company’s Management is responsible for preparing of the consolidated ﬁnancial

statements in ESEF format in accordance with the tagging and technical requirements of a single

electronic reporng format which are speciﬁed in the ESEF Regulaon. Such responsibility includes the

selecon and applicaon of appropriate XBRL tags using the taxonomy speciﬁed in these regulaons.

Responsibility of the Parent Company’s Management also includes designing, implemenng and

maintaining of such internal control as determined is necessary to enable the preparaon of the

Audit | Outsourcing | Tax | Consulng

UHY ECA Audyt Sp. z o.o. – member of UHY International, a network of independent accounting and consulting firms

UHY ECA Audyt Sp. z o.o.

Połczyńska 31A

01-377 Warszawa

E biuro@uhy-pl.com

uhy

pl.com

consolidated ﬁnancial statements in ESEF format, free from material non-compliance with the

requirements of the ESEF Regulaon.

The members of the Parent Company’s Supervisory Board are responsible for overseeing the ﬁnancial

reporng process, which includes the preparaon of ﬁnancial statements in compliance with the form

in accordance with the governing legal regulaons.

Auditor’s responsibility

Our objecve was to express an opinion, based on the performed assurance engagement, providing

reasonable assurance, that the consolidated ﬁnancial statements in ESEF format was tagged in

accordance with the ESEF requirements.

We have performed our assurance engagement in accordance with the Naonal Standard for

Assurance Engagements Other than Audit and Review 3001PL – Audit of Financial Statements Prepared

in Single Electronic Reporng Format adopted by resoluon of the Naonal Council of Statutory

Auditors No. 1975/32a/2021 dated 17 December 2021 (‘NSAE 3001PL’) and, where applicable, in

accordance with the Naonal Standard on Assurance Engagements Other than Audit and Review 3000

(R) as set out in Internaonal Standard on Assurance Engagements 3000 (Revised) - Assurance

Engagements Other than Audits or Reviews of Historical Financial Informaon adopted by Resoluon

of the Naonal Council of Statutory Auditors No. 3436/52e/2019 of 8 April 2019, as amended (‘NSAE

3000 (R)’).

This standard requires the auditor to plan and perform procedures to obtain reasonable assurance that

the consolidated ﬁnancial statements in ESEF format were prepared in accordance with speciﬁed

criteria.

Reasonable assurance is a high level of assurance but it is not guaranteed that the assurance

engagement conducted in accordance with NSAE 3001PL and, where appropriate, in accordance with

NSAE 3000 (R), will always detect material misstatement when it exists.

The selecon of procedures depends on the auditor’s professional judgement, including the

assessment of risk of material misstatement due to fraud or error. When performing risk assessments,

and in order to design procedures to be performed the auditor takes into consideraon the internal

controls related with the preparaon of the consolidated ﬁnancial statements in ESEF format, which

can provide the auditor with suﬃcient and appropriate evidence. The assessment of the internal

controls was not performed for the purpose of expressing an opinion on the eﬀecveness of its

operaon.

Summary of performed procedures

Procedures that were designed and performed by us included among others:

Audit | Outsourcing | Tax | Consulng

UHY ECA Audyt Sp. z o.o. – member of UHY International, a network of independent accounting and consulting firms

UHY ECA Audyt Sp. z o.o.

Połczyńska 31A

01-377 Warszawa

E biuro@uhy-pl.com

uhy

pl.com

● obtaining an understanding of the process of preparaon of the consolidated ﬁnancial

statements in ESEF format, including the process of selecon and applicaon of XBRL tags and

maintaining compliance with the ESEF Regulaon, including an understanding of the internal

control system mechanisms associated with this process;

● reconciliaon of the tagged informaon included in the consolidated ﬁnancial statements in

ESEF format to the audited consolidated ﬁnancial statement;

● assessment of the compliance with the technical standards on the speciﬁcaon of a single

electronic reporng format, including the use of the XTHML format, with the use of specialist

IT tools, assessing the completeness of tagging the informaon in the consolidated ﬁnancial

statements in ESEF format with XBRL tags;

● assessment whether the applied XBRL tags from the taxonomy speciﬁed by the ESEF

Regulaon were applied appropriately and that extensions to the elements in the taxonomy

speciﬁed in the ESEF regulaons were used when there were no suitable elements in the

taxonomy speciﬁed in the ESEF Regulaons;

● evaluang of the anchoring of the taxonomy extensions to the elements in the taxonomy

speciﬁed by the ESEF Regulaons.

We believe that the evidence we have obtained is suﬃcient and appropriate to provide a basis for our

opinion on the performed assurance engagement on the tagging compliance with the requirements of

the ESEF Regulaon.

Ethical requirements, including independence

While performing the assurance engagement, the key cerﬁed auditor and the audit ﬁrm have

complied with the independence and other ethical requirements as speciﬁed by the Code of ethics.

The Code of ethics is based on the fundamental principles related to integrity, objecvity, professional

competence and due care, conﬁdenality and professional behaviour. We have also complied with

other independence requirements and ethical responsibilies in accordance with required applicable

rules of such assurance engagement in Poland.

Quality control requirements

The audit ﬁrm applies the naonal quality control standards introduced by Resoluon of the Board of

the Polish Agency for Audit Oversight No. 38/I/2022 of 15 November 2022. Naonal Quality Control

Standard 1 in the wording of Internaonal Quality Management Standard (PL) 1 – Quality Management

for Firms that Perform Audits or Reviews of Financial Statements, or Other Assurance or Related

Services Engagements requires the audit ﬁrm to design, implement and apply a quality management

system, including policies or procedures with regard to compliance with ethical requirements,

professional standards and applicable legal and regulatory requirements.

Audit | Outsourcing | Tax | Consulng

UHY ECA Audyt Sp. z o.o. – member of UHY International, a network of independent accounting and consulting firms

UHY ECA Audyt Sp. z o.o.

Połczyńska 31A

01-377 Warszawa

E biuro@uhy-pl.com

uhy

pl.com

Opinion on compliance with the requirements of the ESEF Regulaon

The maers described above constute the basis for our opinion which is why our opinion should be

read in conjuncon with these maers.

In our opinion, the consolidated ﬁnancial statements in ESEF format was prepared in all material

respect in accordance with the requirements of the ESEF Regulaons.

Representaon on the provision of non-audit services

To the best of our knowledge and belief, we declare that the non-audit services we have provided to

the Group comply with the laws and regulaons applicable in Poland and that we have not provided

non-audit services that are prohibited under Arcle 5 item 1 of the EU Regulaon and Arcle 136 of

the Act on Statutory Auditors. The non-audit services that we provided to the Group and its subsidiaries

during the audited period are listed under “Provision of permied non-audit services by the Auditor”

of the Group Acvity Report.

Appointment of the audit ﬁrm

We were appointed for the audit of the Group’s consolidated ﬁnancial statements based on the

resoluon of the Parent Company’s Supervisory Board dated 25 January 2024. This is the ninth year in

which we have conducted the audit of the Group’s consolidated ﬁnancial statements, including the ﬁh

year during which the parent company has been a public interest enty.

The key auditor responsible for the audit resulng in this independent auditor's report is Marta

Jankowska.

........................................................

No. in the register: 13498

acng on behalf of UHY ECA Audyt Spółka z ograniczoną odpowiedzialnością of Warsaw, Poland,

entered into the list of audit ﬁrms under entry No. 3886 on behalf of which the key auditor has audited

the consolidated ﬁnancial statements.

Audit | Outsourcing | Tax | Consulng

UHY ECA Audyt Sp. z o.o. – member of UHY International, a network of independent accounting and consulting firms

UHY ECA Audyt Sp. z o.o.

Połczyńska 31A

01-377 Warszawa

E biuro@uhy-pl.com

uhy

pl.com

This document is a foreign language version of the original Independent Auditor’s Report issued in

Polish version and only the original version is binding. This document has been prepared for informaon

purposes and could be used only for Parent Company’s internal purposes. In case of any discrepancies

between the Polish and English version, the Polish version shall prevail.

Warsaw, 30.03.2026