Transport Trade Services (TTS) investor relations material

Executive summary

• Q1 2026 was marked by challenging market conditions but showed signs of stabilization, with aggregated volumes between 10.24 and 10.42 million tonnes over the last four quarters.

• Revenue for Q1 2026 was RON 160.5 million, nearly flat year-over-year, with a net loss of RON 2.16 million, a significant improvement from a net loss of RON 14.86 million in Q1 2025.

• Average tariffs increased by over 3.1% compared to Q2 2025, supporting profitability despite a slight decline in volumes.

• Mineral cargo flows surged by 27% year-over-year, while agricultural cargos dropped by 28.6% and chemical cargos declined by 9%.

• Cargo mix stabilized at 64%-65% industrial (minerals and chemicals) and 32%-33% agricultural over the rolling 12 months.

Financial highlights

• Profitability indicators improved at both consolidated and individual levels, with group-level results returning to positive territory.

• Rolling 12-month operating cash flow increased, with consolidated cash from operations rising from RON 54.9 million in Q1 2025 to RON 86.5 million in Q1 2026.

• Standalone cash flow moved from RON -24 million to RON 42.4 million over the same period.

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

• Operational result reached RON 19.3 million and EBITDA RON 102.5 million for the rolling 12 months.

Key financial ratios and metrics

• Margins increased from 12.5% in Q2 2025 to 15.8% in Q1 2026 over the 12-month period.

• Profit margin moved from negative to positive territory.

• Basic and diluted loss per share: RON (0.0068) for Q1 2026, compared to RON (0.0752) in Q1 2025.

• Equity attributable to shareholders: RON 880.4 million as of March 31, 2026.

• Total liabilities: RON 326.8 million, up from RON 313.2 million at year-end 2025.