Transport Trade Services (TTS) investor relations material

Executive summary

• Q1 2026 was marked by challenging market conditions, with revenue at RON 160.5 million, nearly flat year-over-year, and a net loss of RON 2.16 million, a significant improvement from a net loss of RON 14.86 million in Q1 2025.

• Aggregated volumes stabilized between 10.24 and 10.42 million tonnes over the last four quarters.

• Profitability indicators improved at both consolidated and individual levels, with group results returning to positive territory and the operating result turning positive at RON 1.75 million compared to a loss of RON 10.54 million in the prior year period.

• The group’s core business remains transportation of goods on the Danube, with complementary services in forwarding, port operations, and other logistics.

Financial highlights

• Rolling 12-month operating cash flow increased at both consolidated and standalone levels.

• Consolidated operational result reached RON 19.3 million and EBITDA RON 102.5 million for the 12-month period.

• Margins rose from 12.5% in Q2 2025 to 15.8% in Q1 2026.

• Cash from operations increased from RON 54.9 million in Q1 2025 to RON 86.5 million in Q1 2026 at consolidated level.

• Cash and cash equivalents increased to RON 95.3 million from RON 80.2 million at year-end 2025.

Outlook and guidance

• Budget assumptions for the year remain valid, but high uncertainty persists, especially in the agricultural sector.

• Q2 is typically weaker than Q1, with Q3 expected to be strong due to the harvest.

• Grain export volumes are expected to be high, but logistics and market volatility create unpredictability.

• In April 2026, a dividend distribution of RON 13.5 million (RON 0.075 per share) was approved.