ANNUAL FINANCIAL REPORT 2025 The role of the Audit Committee includes, inter alia, the following: ⮚ updating the Company’s Board of Directors about the result of the statutory audit and explaining the way the audit contributes to the integrity of the financial information and the role of the Committee during this procedure; ⮚ monitoring the statutory audit of the separate and consolidated financial statements, monitoring the procedure of the preparation of financial reporting and submitting recommendations or proposals to ensure its integrity; ⮚ monitoring the effectiveness of the Internal Control System (ICS); ⮚ evaluating and approving the annual audit plan of the Internal Audit Unit; ⮚ evaluating the methods used by the Company to identify, monitor and address the risks through the Internal Control System and the Risk Management Unit, ⮚ reviewing and monitoring the independence of the statutory auditors and, in particular, their suitability for the provision of non-audit services to the Company in accordance with the applicable legislation; ⮚ submitting proposals to the Company’s Board of Directors regarding the appointment of statutory auditors. The Committee informs the Board of Directors about its areas of responsibility and findings in accordance with the legislation, the Company's and the Committee’s Internal Regulations, which has been approved by the Board of Directors and can be amended by the Board of Directors following Committee’s recommendations. On quarterly basis, the Committee submits to the Board of Directors all the minutes of its meetings, further attached to the minutes of the Board of Directors meetings. According to the Committee’s Operating Regulations, the Audit Committee consists of at least three (3) Members, whose majority (i.e. at least 2 members) are Independent, within the meaning of Article 9, Law 4706/2020. The members of the Audit Committee are appointed by the General Meeting of the Company's shareholders, in accordance with the applicable legislation. The Audit Committee’s Operating Regulations are posted on the Company's website. The most important issues the Committee addressed during 2025 were the following: ⮚ Tax audit for fiscal year 2024, conducted by the audit firm Deloitte under the provisions of Article 65A of the Code of Tax Procedure (Law 4174/2013). ⮚ Annual statutory auditor’s report of Deloitte on the separate and consolidated financial statements for fiscal year 2024 ⮚ Approval of the annual statutory audit plan by the audit firm Deloitte for 2025, key risk areas and time schedule. ⮚ Statutory auditor’s review report of Deloitte on the interim separate and consolidated financial statements for fiscal year 2025. ⮚ Audits and findings of the Company’s Internal Audit Units of the Company and of the subsidiary RKB in Serbia. ⮚ Informatory Memoranda to the Board of Directors for the review of the annual separate and consolidated financial statements for 2024 and the interim separate and consolidated financial statements for 2025. ⮚ Update on the results of the evaluation of the adequacy of the Corporate Governance System (CGS) by the Internal Audit Unit for the period 17/07/2021–31/12/2024, in accordance with the provisions of Law 4706/2020 and the relevant decisions of the Board of Directors of the Hellenic Capital Market Commission. ⮚ In the context of compliance with the applicable legislative framework on corporate governance, in 2025 the Committee submitted a recommendation to the Board of Directors regarding the MIG HOLDINGS S.A., 10, El. Venizelou str., 106 71 Athens, Greece Page 32

ANNUAL FINANCIAL REPORT 2025 MIG HOLDINGS S.A., 10, El. Venizelou str., 106 71 Athens, Greece Page 33 selection of an independent evaluator for the evaluation of the adequacy of the Internal Control System (ICS) of the Company and of the subsidiary RKB, for the period 01/01/2023–31/12/2025. ⮚ Evaluation regarding the selection of a statutory audit firm for fiscal year 2025 and submission of the relevant recommendation to the Board of Directors. ⮚ Preparation of the annual report of the Committee’s activities for 2024 addressed to the Annual General Meeting of Shareholders held on 03/04/2025. ⮚ Granting consent to the provision of non-audit services by Deloitte. ⮚ Approval of the annual audit plans of the Internal Audit Units of MIG and RKB for 2026. ⮚ Risk Management and Compliance Issues. It is noted that, in 2026 in order to complete the review and evaluation of the financial reporting procedures for fiscal year 2025, the Committee held one (1) meeting with the statutory auditors. While exercising its duties, the Audit Committee had full access to all the information necessary to effectively perform its work. In accordance with the decisions of the General Meeting of Shareholders dated 22/6/2022 (regarding the announcement of election of Audit Committee members) and of the Audit Committee dated 22/06/2022 (regarding its constitution), the composition of the Audit Committee is the following: a) Stefanos Capsaskis, Independent Non-Executive BoD, Chairman, b) Efstratios Chatzigiannis, Independent Non-Executive BoD Member, and c) Konstantinos Galiatsos, Independent Non-Executive BoD Member, Members. All new Members of the Audit Committee have sufficient knowledge in the segments in which the Company operates, as they have been serving as Members of the Company’s Board of Directors for a long time. Furthermore, at least one of the Members, namely Mr. Efstratios Chatzigiannis, has sufficient knowledge in accountancy. In 2025, the Audit Committee held 8 meetings and adopted 4 written resolutions by circularization meeting. All the Members of the Committee participated in all the meetings and/or in any other decision-making procedures during their term of office. 4. Nomination & Remuneration Committee The Company’s Nomination and Remuneration Committee was established in 2004 and for reasons of continuity it retained its name in accordance with the decision of the Board of Directors dated 30/06/2021, by virtue of which the responsibilities of the remuneration Committee under Article 11, Law 4706/2020 and those of the nomination Committee under Article 12, Law 4706/2020 (effective from 17/07/2021) were delegated to it. The Nomination & Remuneration Committee assists the Board of Directors in staff nomination, in particular composition of the Board of Directors and the Audit Committee, remuneration of the BoD members, nomination and remuneration of the Company's executives, and in the implementation of the approved Remuneration Policy, in compliance with the applicable legislative and regulatory framework, including the provisions of Articles 10-12, Law 4706/2020 and Articles 109 et seq., Law 4548/2018. The Committee’s main objective is: Α.1 Nomination of candidates • Ensuring the existence of effective and transparent procedures for nominating potential BoD members, • Identification and recommendation to the BoD of suitable candidates to become BoD members,

ANNUAL FINANCIAL REPORT 2025 • Assistance in ensuring that the composition and structure of the Company’s BoD corresponds to the size, business characteristics, nature, scope and complexity of the Company's operations. Α.2 Remuneration procedures • Submission of proposals to the BoD regarding the content of the Remuneration Policy which is submitted for approval by the General Meeting, in accordance with Par. 2, Article 110, Law 4548/2018 and assistance to the BoD to monitor its implementation, • Submission of proposals to the BoD regarding the remuneration and other benefits of the persons falling within the scope of the Remuneration Policy, in accordance with Article 110, Law 4548/2018 and regarding the remuneration of the key executives, especially the Head of the Internal Audit Unit, • Review of the information included in the final draft of the annual remuneration report, providing its opinion to the BoD before the report is submitted to the General Meeting, in accordance with Article 112, Law 4548/2018. The Committee consists of three (3) members, elected among the non-executive members of the Board of Directors. At least two (2) of its members are independent non-executive BoD members. The BoD can appoint all the members of the Committee from its independent non-executive members. The Chairman of the Committee is elected by its members at the first meeting held once the Committee has been established and is an independent non-executive member of the Board of Directors. The Committee meets at least once a year and extraordinarily, whenever the Chairman of the Committee or any of its members consider it necessary. The Committee’s responsibilities and the relevant procedures performed in order to meet its objective are disclosed in the Committee’s Operating Regulations, approved by the Board of Directors and amended by it following the Committee’s recommendations. The Operating Regulations of the Nomination & Remuneration Committee are posted on the Company's website. Following decisions dated 22/06/2022 of the Board of Directors (regarding the election of the Committee Members) and the Nomination & Remuneration Committee (regarding its constitution), the composition of the Nomination & Remuneration Committee is as follows: 1. Konstantinos Galiatsos, Chairman, Independent Non-Executive Member of the BoD, 2. Stefanos C apsaskis, Independent Non-Executive Member of the BoD, and 3. Loukas Papazoglou, Non-Executive Member of the BoD. The issues addressed by the Committee during 2025 were as follows: ⮚ Annual evaluation of the Board of Directors and Committees ⮚ Recommendation to the Board of Directors regarding the fulfillment of the independence criteria of Article 9 of Law 4706/2020 of the Independent Non-Executive Members of the Company’s Board of Directors. ⮚ Briefing on the activities of the fiscal year 2024. ⮚ Remuneration Report for the corporate year 2024. ⮚ Recommendation about the maximum amount of remuneration of Board members. ⮚ Recommendations to the Board of Directors regarding the allocation of advance payment of remuneration to executive and to non-executive members of the Board of Directors until the next Annual General Meeting, in accordance with Article 109 of Law 4548/2018. ⮚ Granting of variable remuneration to executive officers. During 2025, the Committee held 2 meetings, while on 2 occasions it adopted written resolutions without holding a meeting. All Members of the Committee participated in all of these decision-making processes. MIG HOLDINGS S.A., 10, El. Venizelou str., 106 71 Athens, Greece Page 34

Key Audit Matters - Continued Key audit matters How our audit addressed the Key audit matters Fair value measurement of investment property (on a corporate and consolidated basis) The Company and the Group measure investment properties at fair value in accordance with the principles of International Accounting Standard 40. The fair value of investment properties for the Company and the Group as at 31 December 2025 amounted to €3.6 million and € 191.5 million respectively (31 December 2024 amounted to € 3.4 million for the Company and € 207.1 million for the Group), while the fair value revaluation gains on the aforementioned investment properties recognised in the Statement of Comprehensive Income for the Company and the Group for the year 2025 amounted to €206 thousand and € 1.1 million respectively (for the year 2024 to €371 thousand for the Company and €1.2 million for the Group). The Management of the Company and the Group exercises critical judgment and significant estimates for the valuation of the investment properties which are inherently subjective. The Management of the Company and the Group uses independent certified valuers who exercised judgment and applied assumptions to carry out the valuation of the investment properties as at 31 December 2025. We have identified the valuation of investment properties as a key audit matter due to the large number of investment properties and the complexity and significance of the judgments and estimates applied by Management in valuing the Group's and the Company's investment properties and their sensitivity to changes. The evaluation of the above judgement and estimates requires significant audit effort and the support of our firm's valuation specialists. The most significant judgments and estimates used, which required significant audit effort and the support from our firm’s valuation specialists, included the following: • Assumptions regarding rental income from future leases. • Estimates for vacant leases. • Estimates of the discount rate used in the discounted cash flows. • Judgment about the weight given between the discounted cashflows method and the market comparable method or amortised replacement cost method or residual method. The Company's and the Group's disclosures on the accounting policies and the judgments and estimates used for the valuation of the investment properties are included in notes 4.4, 6 and 13 of the separate and consolidated financial statements. Based on our risk assessment and following a risk- based approach, we have evaluated Management's policy and methodology for valuing investment properties and performed the following audit procedures, among others: • We assessed the design and implementation and tested the operating effectiveness of relevant controls over the significant estimates, data, the calculations and the methodologies used. • We obtained the valuations conducted by the independent certified valuers appointed by Management as of 31 December 2025 and examined whether the fair values of the properties, as presented in the separate and consolidated financial statements, are derived from the fair value valuation reports of the independent valuers dated 31 December 2025. • We assessed and confirmed the independence, qualifications, competence, and objectivity of the certified valuers engaged by Management to determine the fair value of the investment properties of the Company and the Group. • We assessed on a sample basis completeness and accuracy of the data used for the identification of fair value - which were provided by Management to the certified real estate appraisers, including agreement with leases and purchase contracts. • We reviewed, with the support of our experts, the appropriateness and reasonableness of key assumptions (such as rental income, estimates of vacant leases, the discount rate, the exit yields and the judgements around the weighting factor given between the valuation methods). • We verified the arithmetic accuracy of certain calculations performed by the independent certified valuers in the context of their valuations. • We assessed the completeness and accuracy of the disclosures in the relevant notes to the separate and consolidated financial statements including the appropriateness of the assumptions disclosed.

NOTES TO THE FINANCIAL STATEMENTS st OF DECEMBER 31 2025 CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME THE GROUP Amounts in € '000 Note 01/01-31/12/2025 01/01-31/12/2024 Rental income from investment properties 28 9,403 8,739 Other income from investment properties 28 1,712 1,196 Total income from investment properties 11,115 9,935 Fair value adjustments of investment properties 13 1,016 1,151 Profit on sale of investment property 13 2,633 273 Gains from fair value adjustments and disposal of investment properties 3,649 1,424 Total income 14,764 11,359 Property operating expenses 29 (4,661) (4,328) Staff costs 30 (2,376) (2,383) Other operating expenses 31 (1,955) (2,068) Depreciation / amortization (271) (275) Total operating expenses (9,263) (9,054) Other income/(expenses) 32 248 144 Result from operating activity 5,749 2,449 Other financial results 33 820 6,717 Financial expenses 34 (2,784) (3,181) Financial income 34 265 248 Income from dividends 212 185 Gains before tax 4,262 6,418 Income tax - - Gains after tax for the year 4,262 6,418 Other comprehensive income Amounts that will not be reclassified in the Statement of Comprehensive Income in subsequent years Remeasurement of defined benefit pension plans (8) (6) Total comprehensive income for the year after tax 4,254 6,412 Attributable to: Owners of the parent 4,254 6,412 Non-controlling interests - - Gains per share basic and diluted (€ / share) : Basic earnings per share (in €) 36 0.1358 0.2049 The accompanying notes form an integral part of these Financial Statements MIG HOLDINGS S.A., 10, El. Venizelou str., 106 71 Athens, Greece Page 48  

NOTES TO THE FINANCIAL STATEMENTS st OF DECEMBER 31 2025 CONSOLIDATED AND SEPARATE STATEMENT OF FINANCIAL POSITION THE GROUP THE COMPANY Amounts in € '000 Note 31/12/2025 31/12/2024 31/12/2025 31/12/2024 ASSETS Non-Current Assets Tangible assets 9 118 108 52 67 Right-of-use assets 9 589 163 418 67 Intangible assets 10 64 84 50 60 Investments in subsidiaries 11 - - 101,545 96,742 Investment Properties 13 191,520 207,140 3,616 3,410 Other non-current assets 14 202 191 17,341 22,205 Total of Non-Current Assets 192,493 207,686 123,022 122,551 Current Assets Trade and other receivables 15 1,792 1,500 - - Other current assets 16 1,260 626 546 219 Other financial assets at fair value through P&L 12 12,692 7,447 12,692 7,447 Cash & cash equivalents 17 3,898 1,649 1,951 821 Total of Current Assets 19,642 11,222 15,189 8,487 Total Assets 212,135 218,908 138,211 131,038 EQUITY AND LIABILITIES Equity Share capital 18 12,560 12,527 12,560 12,527 Share premium 18 99,990 100,000 99,990 100,000 Other reserves 19 33,156 33,156 33,156 33,156 Retained earnings (12,943) (17,197) (12,946) (17,208) Equity attributable to οwners of the parent 132,763 128,486 132,760 128,475 Non-controlling interests - - - - Total Equity 132,763 128,486 132,760 128,475 Non-current liabilities Accrued pension and retirement obligations 21 149 132 123 101 Long-term borrowings 22 72,129 84,139 2,375 - Long-term lease liabilities 22 354 112 248 34 Non-Current Provisions 24 1,692 1,893 - - Other long-term liabilities 25 383 226 - - Total of Non-current liabilities 74,707 86,502 2,746 135 Current Liabilities Trade and other payables 26 1,073 776 - - Short-term borrowings 22 364 306 61 - Short-term lease liabilities 22 252 58 185 40 Other current liabilities 27 2,976 2,780 2,459 2,388 Total of Current Liabilities 4,665 3,920 2,705 2,428 Total liabilities 79,372 90,422 5,451 2,563 Total Equity and Liabilities 212,135 218,908 138,211 131,038 The accompanying notes form an integral part of these Financial Statements MIG HOLDINGS S.A., 10, El. Venizelou str., 106 71 Athens, Greece Page 50  

NOTES TO THE FINANCIAL STATEMENTS st OF DECEMBER 31 2025 CONSOLIDATED STATEMENT OF CHANGES IN EQUITY Amounts in € '000 Note Share Capital Share Premium Fair Value Reserve Other Reserves Retained earnings Total Equity attrib. to Owners of the Parent Non- controlling Interests Total Equity Balance as of 01/01/2025 12,527 100,000 - 33,156 (17,197) 128,486 - 128,486 Issue of share capital (equity offering) 33 - - - - 33 - 33 Expenses related to share capital increase - (10) - - - (10) - (10) Transactions with owners 33 (10) - - - 23 - 23 Profit for the year - - - - 4,262 4,262 - 4,262 Other comprehensive income: Remeasurements of defined benefit pension plans - - - - (8) (8) - (8) Other comprehensive income for the year after tax 37 - - - - (8) (8) - (8) Total comprehensive income for the year after tax - - - - 4,254 4,254 - 4,254 Balance as of 31/12/2025 12,560 99,990 - 33,156 (12,943) 132,763 - 132,763 The accompanying notes form an integral part of these Financial Statements Amounts in € '000 Note Share Capital Share Premium Fair Value Reserve Other Reserves Retained earnings Total Equity attrib. to Owners of the Parent Non- controlling Interests Total Equity Balance as of 01/01/2024 12,527 100,000 - 32,947 (23,609) 121,865 - 121,865 Stock options granted to employees - - - 209 - 209 - 209 Transactions with owners - - - 209 - 209 - 209 Profit for the year - - - - 6,418 6,418 - 6,418 Other comprehensive income: Remeasurements of defined benefit pension plans - - - - (6) (6) - (6) Other comprehensive income for the year after tax 37 - - - - (6) (6) - (6) Total comprehensive income for the year after tax - - - - 6,412 6,412 - 6,412 Balance as of 31/12/2024 12,527 100,000 - 33,156 (17,197) 128,486 - 128,486 The accompanying notes form an integral part of these Financial Statements MIG HOLDINGS S.A., 10, El. Venizelou str., 106 71 Athens, Greece Page 51  

NOTES TO THE FINANCIAL STATEMENTS OF DECEMBER 31 st 2025 MIG HOLDINGS S.A., 10, El. Venizelou str., 106 71 Athens, Greece Page 53 STATEMENT OF CASH FLOWS (CONSOLIDATED AND SEPARATE) THE GROUP THE COMPANY Amounts in € '000 01/01- 31/12/2025 01/01- 31/12/2024 01/01- 31/12/2025 01/01- 31/12/2024 Gains/(Losses) for the year before tax 4,262 6,418 4,270 6,704 Adjustments (2,111) (5,081) (5,397) (8,332) Cash flows from operating activities before working capital changes 2,151 1,337 (1,127) (1,628) Changes in working capital (Increase) / Decrease in inventories - - - - (Increase)/Decrease in trade receivables (871) 395 (318) 239 Increase / (Decrease) in liabilities 361 (299) 94 142 (Increase)/Decrease of financial assets at fair value through profit and loss - - (5,517) (1,509) (510) 96 (5,741) (1,128) Cash flows from operating activities 1,641 1,433 (6,868) (2,756) Interest paid (1,831) (2,983) (81) (1) Income tax paid - - - - Net cash flows from operating activities (190) (1,550) (6,949) (2,757) Cash flows from investing activities Purchase of property, plant and equipment (46) (15) (12) (2) Purchase of intangible assets (6) (64) (6) (64) Purchase of investment property (1,437) (3,569) - (3,039) Disposal of property, plant and equipment, intangible assets and investment property 21,020 1,870 - - Dividends received 206 185 - - Result from subsidiaries liquidation - - - 271 Ιnvestments in financial assets at fair value through profit and loss (4,440) (749) - - Investments in subsidiaries and associates - - (18) 50 Interest received 248 208 204 167 Collections of receivables and loans to related parties - - 5,692 - Net cash flow from investing activities 15,545 (2,134) 5,860 (2,617) Cash flow from financing activities Proceeds from issuance of ordinary shares 33 - 33 - Expenses related to share capital increase (10) - (10) - Proceeds from borrowings 2,469 57,050 2,469 - Payments for borrowings (15,345) (58,940) (45) - Payment of finance lease liabilities (227) (178) (195) (167) Net cash flow from financing activities (13,080) (2,068) 2,252 (167) Net (decrease) / increase in cash and cash equivalents 2,275 (5,752) 1,163 (5,541) Cash and cash equivalents at the beginning of the year 1,649 7,392 821 6,362 Exchange differences in cash and cash equivalents (26) 9 (33) - Net cash and cash equivalents at the end of the year 3,898 1,649 1,951 821 The accompanying notes form an integral part of these Financial Statements

NOTES TO THE FINANCIAL STATEMENTS OF DECEMBER 31 st 2025 MIG HOLDINGS S.A., 10, El. Venizelou str., 106 71 Athens, Greece Page 54 Profit adjustments are analyzed as follows: THE GROUP THE COMPANY Amounts in € '000 01/01- 31/12/2025 01/01- 31/12/2024 01/01- 31/12/2025 01/01- 31/12/2024 Adjustments for: Depreciation and amortization expense 271 275 225 249 Changes in pension obligations 14 15 15 13 Provisions and other non-cash (income)/expenses (283) (187) (25) (77) Impairment and reversal of impairment of assets - - (5,605) (7,716) (Profit) / loss from investment property at fair value (1,016) (1,151) (206) (371) Unrealized exchange (gains)/losses 26 (8) 34 1 (Profit) loss on sale of property, plant and equipment, intangible assets and investment property (2,633) (273) - - (Profit) / loss from fair value valuation of financial assets at fair value through profit and loss 272 (228) 272 (170) Profit from restructuring loan liabilities - (5,751) - - (Profit) / loss from sale of financial assets at fair value through profit and loss (1,069) (730) - - Interest and similar income (265) (248) (221) (207) Interest and similar expenses 2,784 3,181 114 8 Employee benefits in the form of stock options - 209 - 209 Income from dividends (212) (185) - - Result from subsidiaries liquidation - - - (271) Total of adjustments (2,111) (5,081) (5,397) (8,332) The accompanying notes form an integral part of these Financial Statements

NOTES TO THE FINANCIAL STATEMENTS st OF DECEMBER 31 2025 1 GENERAL INFORMATION OF THE GROUP The Consolidated Financial Statements have been prepared in compliance with the International Financial Reporting Standards as issued by the International Accounting Standards Board and adopted by the European Union. The Company “MIG HOLDINGS S.A.” under the discreet title MIG is domiciled in Greece in the Municipality of Athens of Attica (El. Venizelou 10, 106 71). The Company’s term of duration is 100 years starting from its establishment on 10/03/1988 and can be extended following a resolution of the General Shareholders Meeting. MIG operates as a holding societe anonyme according to Greek legislation and specifically according to the provisions of C.L. 4548/2018 on societe anonyme, as it stands. The Financial Statements are posted on the Company’s website at www.migholdingssa.com. The Company’s shares are listed in the Athens Stock Exchange. The Company’s share forms part of the ASE General Index (Bloomberg Ticker: MIG GA, Reuters ticker: MIGr.AT, OASIS: MIG). The main activity of the Group is its focus on equity investments in Greece and throughout South- Eastern Europe. The Group’s activity focuses on the following operating sectors: • Financial Services [MIG, MIG AVIATION HOLDINGS, MIG LEISURE (under liquidation), ATHENIAN INVESTMENTS (under liquidation)], • Real Estate (RKB). On December 31, 2025 the Group’s headcount amounted to 47, while on December 31, 2024 the Group’s headcount amounted to 54. On December 31, 2025 the Company’s headcount amounted to 14 while on December 31, 2024 the Company’s headcount amounted to 14. MIG’s companies, included in the consolidated Financial Statements, as well as their non-tax audited years are analysed in Note 2 to the Financial Statements. The Board of Directors of the Company, which on March 12, 2026 approved the separate and consolidated Annual Financial Statements of MIG HOLDINGS S.A. (the Company and the Group) for the fiscal year ended December 31, 2025 (the “Annual Financial Statements”), consists of the following members: 1. Petros Katsoulas – Chairman of the Board, Independent Non-Executive Member, 2. Georgios Efstratiadis – Chief Executive Officer, Executive Member, 3. Stavroula Markouli – Executive Member, 4. Loukas Papazoglou – Non-Executive Member, 5. Konstantinos Galiatsos – Independent, Non-Executive Member 6. Stefanos Capsaskis – Independent, Non-Executive Member, 7. Efstratios Chatzigiannis - Independent, Non-Executive Member The Annual Financial Statements are subject to the final approval of the Annual Ordinary General Shareholder Meeting and are available to the investing public on the Company’s website www.migholdingssa.com. The annual financial statements of the consolidated subsidiaries are posted Α on the same website in accordance with the provisions of decision 12 /889/31.8.2020 of the Hellenic Capital Market Commission. The consolidated Financial Statements of MIG Group are consolidated using the full consolidation method into the Financial Statements of PIRAEUS BANK S.A., which is based in Greece and whose total holding in the Company stands at 87. 56% as of 31/12/2025. MIG HOLDINGS S.A., 10, El. Venizelou str., 106 71 Athens, Greece Page 55

NOTES TO THE FINANCIAL STATEMENTS st OF DECEMBER 31 2025 2 GROUP STRUCTURE AND ACTIVITIES 2.1 Consolidated entities table on 31/12/2025 The following table presents MIG’s consolidated entities on 31/12/2025, their domiciles, their principal activity, the Company’s direct and indirect shareholdings, the consolidation method as well as the non-tax audited financial years.

Company Name	Domicile	Principal activity	Direct %	Indirect %	Total %	Consolidation Method	Non-tax Audited Years (1)
MIG HOLDINGS S.A.	Greece	Holding company	Parent Company				2020-2025
MIG Subsidiaries
MIG LEISURE LTD	Cyprus	Under liquidation company	100.00%	-	100.00%	Purchase Method	-
ATHENIAN INVESTMENTS HOLDINGS S.A.	Greece	Under liquidation	100.00%	-	100.00%	Purchase Method	2020-2025
MIG AVIATION HOLDINGS LTD	Cyprus	Holding company	100.00%	-	100.00%	Purchase Method	-
JSC ROBNE KUCE BEOGRAD (RKB)	Serbia	Real estate management	100.00%	-	100.00%	Purchase Method	-

Notes (1) In respect to the Group companies established in Greece, which meet the relevant criteria for falling under the tax audit of Certified Auditors, the tax audit of fiscal years 2020-2024 has been completed under the provisions of Law 4174/2013, article 65A, par.1. It is to be noted that the tax audit of fiscal year 2025 is in progress. On 31/12/2025 the fiscal years until 31/12/2019 were time-barred in accordance with the provisions of par. 1 of art. 36 of Law 4174/2013, with the exceptions provided by the current legislation for extension of the right of the Tax Administration for the issuance of an act of administrative, estimated or corrective tax determination in specific cases. 2.2 Changes in the Group’s structure In the consolidated Financial Statements for the annual period ended December 31, 2025 compared to the corresponding annual comparative period of 2024, there has been no change in the Group’s structure. MIG HOLDINGS S.A., 10, El. Venizelou str., 106 71 Athens, Greece Page 56

NOTES TO THE FINANCIAL STATEMENTS st OF DECEMBER 31 2025 3 BASIS OF FINANCIAL STATEMENTS PRESENTATION 3.1 Statement of Compliance st The consolidated and separate Financial Statements as of December 31 , 2025 covering the annual st st period from January 1 , to December 31 , 2025, have been prepared according to the International Financial Reporting Standards (IFRS), which were published by the International Accounting Standards Board (IASB) and according to their interpretations, which have been published by the International Financial Reporting Interpretations Committee (IFRIC) and have been adopted by the st European Union until December 31 , 2025. The Group applies all the International Accounting Standards, International Financial Reporting Standards and their Interpretations, which apply to the Group’s activities. The relevant accounting policies have been applied consistently in all periods presented. The aforementioned Financial Statements were prepared based on the going concern principle, which implies that the Company and its subsidiaries will be in position to continue operating as entities in the foreseeable future, taking into account the currently effective and projected financial position of the Group. RKB through its expected operating profitability and estimated liquidity will be able to cover its financing needs while maintaining sufficient liquidity at the end of the financial year. MIG Company will continue to manage its capital efficiently through targeted investments in equities and fixed income securities. It is noted that Group’s and Company’s current assets significantly exceed their current liabilities. Based on the above, the Management believes that it has ensured the going concern principle of the Group and the Company and therefore the financial statements have been prepared in accordance with the going concern basis of accounting. 3.2 Basis of Measurement The consolidated and separate Financial Statements have been prepared according to the principle of historical cost, except of: • Financial assets and liabilities at fair value through Profit & Loss measured at fair value through profit and loss, • Investment property measured at fair value. 3.3 Presentation currency The presentation currency is Euro (the currency of the Group’s parent domicile) and all the amounts are presented in thousand Euro unless otherwise mentioned. 3.4 Use of Estimates The preparation of the Financial Statements according to IFRS requires the use of estimates and judgments on the application of the Company’s and the Group’s accounting policies. Opinions, assumptions and Management estimates affect the valuation of several asset and liability items, the amounts recognized during the financial year regarding specific income and expenses as well as the presented estimates on contingent liabilities. The assumptions and estimates are assessed on a continuous basis according to historic experience and other factors, including expectations on future event outcomes that are considered as reasonable given the current conditions. The estimates and assumptions relate to the future and, consequently, the actual results may deviate from the accounting calculations. The Company and the Group believe that the judgments, estimates and assumptions used in the preparation of the Annual Financial Statements are appropriate. MIG HOLDINGS S.A., 10, El. Venizelou str., 106 71 Athens, Greece Page 57

NOTES TO THE FINANCIAL STATEMENTS st OF DECEMBER 31 2025 The aspects requiring the highest degree of judgment as well as the aspects mostly affecting the consolidated Financial Statements are presented in Note 6 to the Financial Statements. 3.5 Changes in Accounting Policies The accounting policies based on which the separate and consolidated Financial Statements were drafted, are in accordance with those used in the preparation of the Annual Financial Statements for the FY 2024, adjusted to the new Standards and revisions imposed by IFRS (see par. 3.5.1, 3.5.2 and 3.5.3). 3.5.1 Amendments to existing Standards that are effective and have been adopted by the European Union The following amendments to existing IFRSs, effective from 1 January 2025, have been issued by the International Accounting Standards Board (IASB) and endorsed by the European Union as of the data the Annual Financial Statements were issued. • IAS 21 (Amendment) “Lack of exchangeability” The amendments specify when a currency is exchangeable into another currency and, consequently, when it is not and how an entity determines the exchange rate to apply when a currency is not exchangeable. Additionally, the amendment requires disclosure of information that enables users of financial statements to understand the impact of a currency not being exchangeable. The amendment had no impact on the Group’s and the Company’s financial statements. 3.5.2 Amendments to standards that have been issued by the IASB and have been endorsed by the European Union, but they are not effective in 2025 nor have they been early adopted by the Group and the Company IFRS 9, IFRS 7 (Amendment) “Classification, Measurement and Disclosure of financial instruments” The amendments aim to address matters identified post – implementation of the IFRS 9. More specifically, the amendments: a) clarify that an entity is allowed to derecognise a financial liability (or part of it) settled before the actual settlement date under specific conditions when using an electronic payment system, b) provide additional examples regarding the contractual terms which are consistent with a basic lending arrangement and enhance the description of non-recourse features and contractually linked instruments and c) add new disclosures for equity instruments classified at FVTOCI and financial instruments with contingent features. IFRS 9, IFRS 7 (Amendment) “Contracts Referencing Nature-dependent Electricity” The amendments aim to enchance the factors an entity shall take under consideration when assessing the own-use exemption of IFRS 9 to contracts to buy and take delivery of renewable electricity for which the source of production of the electricity is nature-dependent. Moreover, the amendments extend also to hedge accounting and allow an entity using a contract for nature-dependent renewable electricity with specified characteristics as a hedging instrument. Finally, amendments introduce disclosure requirements about contracts for nature-dependent electricity with specified characteristics. Annual Improvements The standards amended in order to address inconsistencies among paragraphs of different IFRSs or to provide clarifications, are: • IFRS 1 “Hedge accounting by a first-time adopter”. • IFRS 7 “Gain or loss on derecognition”. MIG HOLDINGS S.A., 10, El. Venizelou str., 106 71 Athens, Greece Page 58

NOTES TO THE FINANCIAL STATEMENTS st OF DECEMBER 31 2025 • IFRS 7 “Disclosure of deferred difference between fair value and transaction price”. • IFRS 7 “Introduction and credit risk disclosures”. • IFRS 9 “Lessee derecognition of lease liabilities”. • IFRS 9 “Transaction price”. • IFRS 10 “Determination of a ‘de facto agent”. • IAS 7 “Cost method”. The Group and the Company have not early adopted the above amendment, however it is not expected any material impact on the Group and the Company’s financial statements. 3.5.3 New standards that have been issued by the IASB but they have not yet been endorsed by the European Union, and therefore they have not been adopted by the Group and the Company • IFRS 18 (New IFRS) “Presentation and Disclosure in Financial Statements” The new Standard aims to improve the transparency and comparability of the entities’ performance reporting, it has retrospective application and will replace IAS 1 Presentation of Financial Statements. It sets out general and specific requirements for the presentation and disclosure of information in general purpose financial statements to help ensure they provide relevant information that faithfully represents an entity’s assets, liabilities, equity, income and expenses. • IFRS 19 (New IFRS) “Disclosures: Subsidiaries without Public Accountability” The new Standard specifies the disclosure requirements an entity is permitted to apply instead of the disclosure requirements in other IFRS. It allows subsidiaries with a parent that applies IFRS in its consolidated financial statements to apply IFRS with reduced disclosure requirements. Subsidiaries are eligible to apply IFRS 19 if they do not have public accountability, and their parent company applies IFRS in their consolidated financial statements. MIG HOLDINGS S.A., 10, El. Venizelou str., 106 71 Athens, Greece Page 59

NOTES TO THE FINANCIAL STATEMENTS st OF DECEMBER 31 2025 4 MATERIAL INFORMATION ABOUT ACCOUNTING POLICIES 4.1 Consolidation 4.1.1 Subsidiaries Subsidiaries are all the companies, which the parent has the power to control directly or indirectly through other subsidiaries. The Company has and exercises control through its ownership of the majority of the subsidiaries’ voting rights. The companies also considered subsidiaries are those in which the Company, being their single major shareholder, has the ability to appoint the majority of the members of their Board of Directors. The existence of potentially dilutive minority interests which are exercisable during the financial statements preparation is taken into consideration in order to assess whether the Company controls the subsidiaries. Subsidiaries are fully consolidated under the full consolidation method from the date of acquisition, which is the date on which control is transferred to the Group and cease to be consolidated from the date on which control ceases. As of the acquisition date, the acquirer shall recognize goodwill arising from the acquisition as the excess of between the consideration transferred measured at fair value and the net value of the acquisition-date amounts of the identifiable assets acquired and the liabilities assumed. Goodwill is annually tested for impairment, and the difference between its book and its recoverable value is recognized as an impairment loss in the period’s results. Acquisition-related costs (i.e. advisory, legal, accounting, valuation and other professional or consulting fees) are recognized as expenses, burdening profit or loss for the period when incurred. The opposite case, which is a business combination in which the net of the acquisition-date amounts of the identifiable assets acquired and the liabilities assumed, exceeds the consideration-transferred amount then the transaction is characterized as a bargain purchase. Following all the necessary re- examinations, the excess amount of the aforementioned difference is recognized as profit in profit or loss for the period. Intracompany transactions, balances, and unrealized gains on transactions between group companies are eliminated. Note 2 provides a full list of the consolidated subsidiaries alongside the Group’s shareholdings. Subsidiaries’ financial statements preparation date coincides with the relevant date of the parent company. 4.1.2 Investments in Subsidiaries (Separate Financial Statements) The investments of the parent company in its subsidiaries are measured at cost less accumulated impairment losses. Impairment test is performed based on the requirements of IAS 36. Any resulting impairment lossesare recognised in the results for the reporting period. If at a later date the value of the investment increases, the reversal of the impairment provision is recognised in profit or loss. 4.1.3 Changes in a parent’s ownership interest in subsidiaries In case of changes in a parent’s ownership interest in a subsidiary, it is examined whether the changes result in a loss of control or not. • Changes in a parent’s ownership interest in a subsidiary that do not result in a loss of control are accounted for as equity transactions (i.e. transactions with owners in their capacity as owners). In such circumstances, the carrying amounts of the controlling and non-controlling interests shall be adjusted to reflect the changes in their relative interests in the subsidiary. Any difference between the amount by which the non-controlling interests are adjusted and the fair value of the MIG HOLDINGS S.A., 10, El. Venizelou str., 106 71 Athens, Greece Page 60

NOTES TO THE FINANCIAL STATEMENTS OF DECEMBER 31 st 2025 MIG HOLDINGS S.A., 10, El. Venizelou str., 106 71 Athens, Greece Page 61 consideration paid or received shall be recognized directly in equity and attributed to the owners of the parent. • In case the parents’ ownership interest changes in such a way that there is loss of control, then the parent shall record the necessary accounting entries and recognize the result from the sale (derecognition of the assets, goodwill and liabilities of the subsidiary as of the date of loss of control, derecognition of the book value of non-controlling interests) and recognises the result of the sale in profit or loss. Following the loss of control of a subsidiary, the fair value of any remaining investment in the former subsidiary at the date of loss of control is regarded as the fair value at initial recognition for subsequent accounting in accordance with IFRS 9 “Financial Instruments” or, if appropriate, the cost of initial recognition of an investment in an associate or joint venture. 4.2 Financial instruments A financial instrument is defined as an agreement creating either a financial asset in a company and a financial liability, or, a shareholding in another company. 4.2.1 Initial Recognition and Derecognition Financial asset or financial liability are recognized in the Statement of Financial Position, when and only when the Group becomes a party to the contractual provisions of the financial instrument. Financial assets are derecognized when the contractual rights to the cash flows from the financial asset expire, or when the financial asset and substantially all the risks and rewards are transferred. A financial liability (or part of it) is derecognized from the Statement of Financial Position, when and only when the contractual liability is extinguished, discharged, cancelled or expired. The balance between the carrying amount of a financial liability (or part of it) that is derecognised and the consideration paid, including any non-cash assets transferred or liabilities assumed, shall be recognised in profit or loss. In the case of derecognition (settlement) of a financial liability in exchange for a transfer of a non- cash asset (non-cash consideration), the balance between the carrying amount of the liability and the fair value of the non-cash asset transferred is recognised in profit or loss, in particular in “Other financial income/expenses”. At the same time, at the date of derecognition, the balance between the carrying amount of the non-cash asset transferred and its fair value at that date is recognised as a gain or loss on disposal in operating profit or loss.The gain or loss on reclassification of financial reporting is disclosed in the Statement of Profit and Loss under Other Financial Results. In the case of disposal of an investment in a subsidiary through an exchange, the gain or loss on disposal of the investment is recognised in “Income / Loss on investments” in the separate financial statements and in “Income from discontinued operations” in the consolidated financial statements. 4.2.2 Classification and measurement of financial assets Financial assets are initially measured at fair value adjusting for transaction costs except for financial assets measured at fair value through profit and loss. Financial assets, other than those designated and effective as hedging instruments, are classified into the following categories: a) Financial assets at amortized cost b) Financial assets at fair value through profit and loss, and

NOTES TO THE FINANCIAL STATEMENTS st OF DECEMBER 31 2025 c) Financial assets at fair value through other comprehensive income The classification is determined by Group’s business model for managing the financial asset and the contractual cash flow characteristics of the financial asset. All income and expenses relating to financial assets that are recognized in profit or loss are presented within the items “Other financial results”, “Financial expenses” and “Financial income”, except for impairment of trade receivables which is presented within operating expenses. 4.2.3 Subsequent measurement of financial assets Financial asset is subsequently measured at fair value through profit and loss, amortized cost or fair value through other comprehensive income. The classification is based on both criteria: i. the Group‘s business model for managing the financial asset, meaning, whether the objective is to hold for the purpose of collecting contractual cash flows or collecting contractual cash flows as well as the sale of financial assets, and, ii. whether the contractual cash flows of the financial asset consist exclusively of capital repayments and interest on the outstanding balance (“SPPI” criterion). Financial assets measured at amortized cost The measurement category at amortized cost includes trade receivables. After initial recognition these are measured at amortized cost using the effective interest method. Discounting is omitted where the effect of discounting is immaterial.Financial assets measured at fair value through other comprehensive income For financial assets measured at fair value through other comprehensive income, changes of fair value are recognized in other comprehensive income and reclassified in the statement of comprehensive income upon derecognition of the financial instruments. On initial recognition, the Group and the Company may irrevocably elect to present in other comprehensive income in the statement of comprehensive income subsequent changes in the fair value of an investment in equity securities within the scope of IFRS 9 that are not held for trading purposes. This selection is made on a case-by-case basis. In addition, equity securities measured at fair value in other comprehensive income are not subject to impairment and accumulated gains and losses recognised in other comprehensive income are not subsequently reclassified to the statement of comprehensive income statement but may be reclassified to equity (retained earnings). Financial assets measured at fair value through profit and loss For financial assets measured at fair value through profit and loss are measured at their fair value and changes of fair value recognized in gains or losses of Statement of Comprehensive income. 4.2.4 Classification and measurement of financial liabilities The Group’s financial liabilities include mainly bank loans. Borrowings are initially measured at cost, which is the fair value of the exchange received minus the cost of issuance. After initial recognition, loans are measured at amortized cost using the effective interest method. Loans are classified as short term liabilities unless the Group has an unconditional right to defer settlement of liabilities for at least 12 months after the reporting date Financial Statements. Financial liabilities may be classified upon initial recognition at FVTPL, if the following criteria are met. MIG HOLDINGS S.A., 10, El. Venizelou str., 106 71 Athens, Greece Page 62

NOTES TO THE FINANCIAL STATEMENTS st OF DECEMBER 31 2025 (a) The classification reverses or significantly reduces the effects of the accounting mismatch that would arise if the liability had been measured at amortized cost. (b) These liabilities are part of a group of liabilities, being managed or evaluated with respect to their performance, based on fair value, according to the Group’s financial risks management strategies. (c) A financial liability contains an embedded derivative, classified and measured separately. 4.2.5 Fair Value Measurement Methods The fair values of financial assets and liabilities that are traded in active markets are determined by the current bid price (Level 1). As for non-traded financial assets and liabilities, the fair values are determined by the application of generally accepted valuation techniques such as an analysis of recent transactions, comparable assets that are traded and discounted cash flows (Level 2). In some cases, the valuations derived from the generally accepted methods for valuation of securities are adjusted to reflect factors which are taken into consideration by the market in order to value a security, such as business risk and marketability risk (Level 3). The method used to determine fair value for financial instruments that are valued using valuation models is described below. These models include the Group's assessment of the assumptions an investor would use in performing a fair value valuation and are selected based on the specific characteristics of each investment. The Company, in accordance with the requirements of IFRS 9 at the end of each reporting period of the financial statements performs the calculations required in relation to the determination of the fair value of its financial instruments. Investments in listed shares in domestic and foreign stock exchanges are valued based on the quoted market prices for these shares. Investments in non-listed shares are valued based on generally accepted valuation models which sometimes incorporate data based on observable market inputs and sometimes are based on unobservable data . 4.2.6 Offsetting Financial assets and liabilities are offset and the net amount is presented in the statement of Financial Position only when the Group has a legally enforceable right and intends to settle both the asset and liability simultaneously on a net basis amount. 4.3 Impairment of financial assets The Group and the Company recognize impairment provisions for expected credit losses of all financial assets except for those measured at fair value through profit and loss. The purpose of IFRS 9’s impairment requirements is to recognize expected credit losses over the financial asset’s lifetime, whose credit risk has raised after initial recognition, regardless if the assessment is at a collective or individual level, using all information which can be collected, based on both historical and current data as well, but also data in respect of reasonable and supportable forecasts. In applying the above mentioned approach a distinction is made between: o financial instruments that have not deteriorated significantly in credit quality since initial recognition or that have low credit risk (Stage 1), o financial instruments that have deteriorated significantly in credit quality since initial recognition and whose credit risk is not low (Stage 2), and o financial instruments that have objective evidence of impairment at the reporting date (Stage 3). MIG HOLDINGS S.A., 10, El. Venizelou str., 106 71 Athens, Greece Page 63

NOTES TO THE FINANCIAL STATEMENTS st OF DECEMBER 31 2025 For financial instruments of Stage 1 are recognized as credit losses for the next twelve months period, while for financial assets of Stage 2 or Stage 3 are recognized as credit losses over their lifetime. Expected credit losses are defined as the difference between all the contractual cash flows that are due to and the cash flows that are actually expected to be received by the Group or the Company. This difference is discounted at the original effective interest rate of financial asset. The Group applies the simplified approach of this Standard for assets instruments from contracts, trade receivables and leases receivables by calculating the expected credit losses over the lifetime of abovementioned instruments. In this case, the expected credit losses reflect the expected shortfalls in contractual cash flows, considering the potential for default at any point during the life of the financial instrument. In calculating the expected credit losses, the Group uses a provision matrix in which the above-mentioned financial instruments have been grouped in regard of balances’ nature and ageing and by taking into account available historical data in respect of the debtors, adjusted with future factors related to debtors and financial environment. 4.4 Investment property Investment properties relate to investments in properties which are held by the Group, either to generate rent from its lease or for the increase in its value (increased capital) or for both purposes. Investment properties are initially recognised at cost including related transaction costs. After initial recognition, investment properties are recorded at fair value, as assessed by independent certified valuers with sufficient experience in the location and nature of the investment property. The book value recognized in the Group’s Financial Statements reflects the market conditions on the date of the reporting date of the Statement of Financial Position. Any gain or loss arising from a change in the fair value of the investment constitutes a result and is recognized in the Income Statement in the period in which it arises. Transfers of properties from the category of investment property are made only when there is a change of use of the property. If an investment property is changed to an owner-occupied asset, it is reclassified to property, plant and equipment and its fair value at the date of reclassification is defined as its cost. Also, investment property held for sale without revaluation is classified as available-for-sale in accordance with IFRS 5 at its fair value at the date of transfer. An investment property is derecognized (eliminated from the Statement of Financial Position) upon disposal or when the investment is permanently withdrawn from use and no future economic benefits are expected from its disposal. Gains or losses arising from the withdrawal or disposal of an investment property relate to the difference between the net proceeds of disposal and the carrying amount of the asset and are recognized in Income Statement in the period of withdrawal or disposal. 4.5 Cash and cash equivalent Cash and cash equivalents include cash in hand, sight deposits and term deposits with banks. 4.6 Share Capital and Treasury Shares The share capital is defined according to the nominal value of the shares issued by the Company. A share capital increase by cash payment includes every share premium at the initial share capital issuance. (a) Share capital increase expenses Expenses directly related to a share capital increase are shown subtracted from equity after deducting tax. MIG HOLDINGS S.A., 10, El. Venizelou str., 106 71 Athens, Greece Page 64

NOTES TO THE FINANCIAL STATEMENTS st OF DECEMBER 31 2025 (b) Dividends Shareholders’ dividends are recognized as a liability within the financial year approved by the General Meeting of the Company’s Shareholders. (c) Treasury shares The Company’s shares owned by it or its subsidiaries are recognized at acquisition cost, are included in the “Treasury Shares” account and are subtracted from the Company’s equity until they are cancelled, reissued or resold. Treasury share acquisition cost includes transaction expenditures, after excluding the corresponding income tax. The Company’s treasury shares do not reduce the number of outstanding shares; they do, nevertheless, affect the number of shares included in the earnings per share calculation. The Company’s treasury shares are not entitled to a dividend. The difference between the acquisition cost and the final price from reselling (or reissuing) the treasury shares is recognized in equity and is not included in the net result for the financial year. On 31/12/2025, the Group did not hold any treasury shares. 4.7 Stock options The Company provides staff remuneration in equity securities. Specifically, the Company provides employees with stock option rights to purchase shares of the Company under a stock option plan, approved by the General Meeting of Shareholders. Such remuneration is settled by the issuance of new shares by the Company if the employee fulfils certain performance-related vesting conditions and exercises the rights. Services provided by employees are measured at the fair value of the rights granted at the grant date. The fair value of the rights granted is determined at the date of grant and is recognised as an expense in the Income Statement in staff costs and expenses with an equal increase in equity (i.e. no effect on the Company's and the Group's Net Position). 4.8 Provisions, Contingent Assets and Liabilities Provisions are recognized when the Group has presented legal or imputed liabilities as a result of past events; their settlement is possible through resources’ outflow and the exact liability amount can be reliably estimated. The provisions are reviewed on the date of the Financial Statements and are adjusted accordingly to reflect the present value of the expense expected for the settlement of the liability. Restructuring provisions are identified only if there is a detailed restructuring plan and if Management has informed the affected parties on the plan’s key points. When the effect of the time value of money is significant, the provision is calculated as the present value of the expenses expected to be incurred in order to settle this liability. If it is no longer probable that an outflow will be required in order to settle a liability for which a provision has been formed, then it is reversed. In cases where the outflow due to current commitments is considered improbable or the provision amount cannot be reliably estimated, no liability is recognized in the financial statements. Contingent liabilities are not recognized in the financial statements but are disclosed except if the probability of an outflow, which encompasses economic benefits, is scarce. Possible inflows from economic benefits for the Group which do not meet the criteria of an asset are considered a contingent asset and are disclosed when the inflow of the economic benefits is probable. 4.9 Revenues-Expenses Recognition For the recognition and measurement of revenues from contracts with customers, a new model is followed which includes a 5-step process. 1. Identifying the contract with a customer. MIG HOLDINGS S.A., 10, El. Venizelou str., 106 71 Athens, Greece Page 65

NOTES TO THE FINANCIAL STATEMENTS st OF DECEMBER 31 2025 2. Identifying the performance obligations arising from the contract. 3. Identifying the transaction price. 4. Allocating the transaction price to the performance obligations. 5. Recognizing revenue when/as performance obligation(s) are satisfied. Transaction price is the amount of consideration to which the Group expects to be entitled in exchange for transferring promised goods or services to a customer, excluding amounts collected on behalf of third parties (value added tax, other taxes on sales). If the amount of consideration is variable, then the Group estimates the amount of consideration which will be entitled for transferring promised goods or services with the method of expected value or the method of most probable amount. Transaction price, usually, is allocated to each performance obligation on the basis of relevant stand- alone selling prices of promised contract, distinct good or service. Revenues are recognized when the performance obligations are satisfied, either at a point in time (usually for obligations relevant to transfer of goods at a client) or overtime (usually for obligations relevant to transfer services to a client). The Group recognizes a contractual obligation for amounts received from clients (prepayments) in respect of performance obligations which have not been fulfilled, as well when it retains right on an amount of consideration which is unreserved (deferred income) before the execution of contract’s performance obligations and the transfer of goods or services. The contractual obligation is derecognized when the performance obligations have been executed and the revenue has been recognized in the Income Statement. The Group recognizes trade receivable when exists an unconditional right to receive an amount of consideration for executed performance obligations of the contract to the client. Respectively the Group recognizes an asset from contracts when it has satisfied the performance obligations, before client’s payment or before become due the payment, for example when the goods or the services are transferred to the client before the Group’s right to issue the invoice. Revenue is recognized as follows: • Rental income from investment properties: Revenue from operating leases of the Group’s investment properties is recognized gradually during the lease. • Other income from investment properties: Other income from investment properties mainly relates to the re-invoicing to tenants of a portion of the expenses associated with the operation of the investment properties and is recognized in the period in which it is incurred. • Interest income: Interest income is recognized using the effective rate method which is the rate which accurately discounts estimated future cash flows to be collected or paid in cash during the estimated life cycle of the financial asset or liability, or when required for a shorter period of time, with its net book value. • Dividend income: Dividends are recognized as income upon establishing their collection right. • Expenses: Expenses are recognized in profit or loss in the period on an accrual basis. Payments made under operating leases are transferred to the Income Statement as an expense at the time of use of the leased asset. The interest expenses are recognized on an accrual basis. 4.10 Profit or loss from discontinued operations A discontinued operation is a component of the Group that is either disposed of or classified as held for sale and MIG HOLDINGS S.A., 10, El. Venizelou str., 106 71 Athens, Greece Page 66

NOTES TO THE FINANCIAL STATEMENTS OF DECEMBER 31 st 2025 MIG HOLDINGS S.A., 10, El. Venizelou str., 106 71 Athens, Greece Page 67 • represents a separate major line of business or geographical area of operations, • is part of a unified, coordinated disposure plan for a large part of business or geographical area of operations or • is a subsidiary acquired exclusively with a view to be resold. Profit or loss from discontinued operations, including profit or loss of the comparative period are presented as a separate line in the Income Statement. This amount constitutes the after tax results of discontinued operations and after-tax profit or loss resulting from the valuation and disposal of the assets classified as held for sale. The disclosures of discontinued operations of the comparative period include disclosures for earlier periods presented in Financial Statements so that the disclosures relate to all the operations that have been discontinued until the last date of the latest period presented. In cases where operations, previously classified as discontinued operations, are now continuing operations, disclosures of the prior periods are adjusted accordingly. 4.11 Earnings per share Basic earnings per share (Basic EPS) are calculated by dividing the profit after tax that is attributable to the shareholders of the parent company with the weighted average number of ordinary shares outstanding during the period, excluding the average number of ordinary shares acquired as treasury shares. Diluted earnings per share are calculated by dividing the profit after tax that is attributable to the shareholders of the parent company (after adjusting for the post tax interest expense of the convertible securities) with the weighted average number of ordinary shares during the period (adjusted for diluted shares). The weighted average number of ordinary shares outstanding during the accounting period as well as during all presented accounting periods is adjusted in relation to the events that have altered the number of outstanding ordinary shares without the corresponding alteration of the resources. 4.12 Leases The Group as a lessee For every new contract signed, the Group assesses whether the contract constitute, or involves, a lease. A lease constitutes or involves a lease if the contract grants the right-of-use of an identified asset for a period against a fixed consideration. In this context, the Group assesses whether: • the contract grants the right-of-use of an identified asset, which is either expressly specified in the contract or indirectly if expressly specified at the time the item becomes available for use by the Group, • the Group has the right to substantially receive all financial benefits from the use of the identified, and • the Group has the right to direct the use of the identified asset. Leases are recognized in the Statement of Financial Position as a right-of-use asset and a lease liability at the date the leased asset becomes available for use. The rights-of-use assets are initially measured at cost less accumulated depreciation and any impairment. The cost, at initial recognition, includes the amount of initial measurement of the lease liability, initial costs directly attributable to the lease, costs of rehabilitation and the lease payments made on or prior to the effective date, reduced by the amount of discounts or other incentives. Subsequent to initial recognition, the rights-of-use assets are amortized at the straight-line basis over

NOTES TO THE FINANCIAL STATEMENTS st OF DECEMBER 31 2025 the shorter period between the asset's useful life and its lease term and is subject to impairment test if relative indications are identified. Lease liabilities are initially recognized at amount equal to the current value of the leases over the entire term of the lease and include conventional fixed lease payments, variable payments that depend on an index and amounts related to residual payments that are expected to be paid. They also include the exercise price of the purchase option, as well as amounts of penalties for terminating the lease if the lessor is reasonably certain to exercise that option. The interest rate implicit in the lease is used to calculate the present value of the lease, or in the event that this is not specified in the contract, the incremental borrowing rate. This interest rate represents the cost that the lessee should pay to borrow the capital needed to acquire an asset with similar characteristics, and conditions with the leased asset in a similar economic environment. After initial recognition, the amount of the lease liabilities is increased by their financial cost and decreased by the lease payments. In the event, there is a change in the lease payments due to a change in an index, in measuring the residual value or in evaluating an exercise price of the purchase option, extending or terminating the lease, then the amount of the liability is reassessed. The Group has chosen to make use of the facilitation practices provided for in IFRS 16 for short-term leases (leases with a maturity less than 12 months) and for low-value leases. Lease payments for these leases are recognized as expenses in the consolidated Income Statement using the fixed method. In the Statement of Financial Position the right-of-use assets are presented in “Fixed Assets”, while the lease liabilities are presented separately. The Group as a lessor The Group's leases as a lessor are classified as operating or finance. A lease is classified as financial if it transfers substantially all the risks and benefits related to the ownership of the identified asset. On the contrary, a lease is classified as operating if it does not transfer substantially all the risks and benefits related to the ownership of the asset. Lease income from operating leases is recognized under the terms of the fixed method lease. Initially, direct costs burdening the Group in the negotiation and agreement of an operating lease are added to the book value of the leased asset and are recognized throughout the lease term as lease income. Assets under finance lease are derecognized and the Group recognizes a receivable equal to the net investment in the lease. Lease receivables are discounted by the realized interest rate method and the book value is adjusted accordingly. Leases collected are increased on the basis of interest on the receivables and are decreased by the lease collections. 5 OTHER INFORMATION ABOUT ACCOUNTING POLICIES 5.1 Tangible Fixed Assets Tangible fixed assets are recognized in the Financial Statements at cost, less accumulated depreciation and any potential impairment losses. The acquisition cost includes all direct costs stemming from the acquisition of the assets. The cost of repair and maintenance works is recognized in the Income Statement when incurred. The depreciation of tangible fixed assets (excluding land, which is not depreciated) is calculated using the straight-line method over their useful life as follows:

Tangible assets	Useful life (in years)
Building facilities	6
Other equipment	5-17

MIG HOLDINGS S.A., 10, El. Venizelou str., 106 71 Athens, Greece Page 68

NOTES TO THE FINANCIAL STATEMENTS st OF DECEMBER 31 2025 Tangible fixed assets are tested for impairment when events or changes in circumstances indicate that their carrying amount may no longer be recoverable. When the carrying amounts of property, plant and equipment exceed their recoverable amounts, the difference (impairment) is recognized immediately as an expense in the income statement. When property, plant and equipment are sold, the difference between the consideration received and the carrying amount is recognized as a gain or loss in the Income Statement. 5.2 Intangible Assets Intangible assets include software programs and licenses. Intangible assets are initially recognized at cost. Following initial recognition, the intangible assets are measured at cost less accumulated amortization and any impairment loss. Amortizations are recorded based on the straight-line method during the useful life of the said assets, which is 5 years. The maintenance of software programs is recognized as an expense when the expense is realized. On the contrary, the costs incurred for improving or prolonging the return of software programs beyond their initial technical specifications, or respectively the costs incurred for the modification of the software, are incorporated in the acquisition cost of the intangible asset, only if they can be measured reliably . 5.3 Employee benefits Short-term Benefits: Short-term benefits to personnel (except for termination of employment benefits) in cash and in kind are recognized as an expense when considered accrued. Any unpaid amount is recognized as a liability, whereas in case the amount already paid exceeds the benefits’ amount, the entity identifies the excess as an asset (prepaid expense) only to the extent that the prepayment shall lead to a future payments’ reduction or refund. Retirement Benefits: Benefits following termination of employment include lump-sum severance grants, pensions and other benefits paid to employees after termination of employment in exchange for their service. The Group’s liabilities for retirement benefits cover both defined contribution plans and defined benefit plans. The defined contribution plan’s accrued cost is recognized as an expense in the financial year where it relates. Pension plans adopted by the Group are partly financed through payments to insurance companies or state social security funds. (a) Defined Contribution Plan Defined contribution plans pertain to contribution payment to Social Security Organizations and therefore, the Group does not have any legal obligation in case the Fund is incapable of paying a pension to the insured person. The employer’s obligation is limited to paying the employer’s contributions to the Funds. The payable contribution by the Group in a defined contribution plan is identified as a liability after the deduction of the paid contribution, while accrued contributions are recognized as an expense in the Income Statement. (b) Defined Benefit Plan (non-funded) Under Laws 2112/20 and 4093/2012, the Company must pay compensation upon retirement or termination to its employees. The amount of compensation paid depends on the years of service, the level of wages and the way of leaving service (dismissal or retirement). The entitlement to participate in these plans is usually based on years of service of the employee until retirement. The liability recognized in the Statement of Financial Position for defined benefit plans is the present value of the liability for the defined benefit less the plan assets’ fair value (reserve from payments to an insurance company), the changes deriving from any actuarial profit or loss and the service cost. The defined benefit commitment is calculated on an annual basis by an independent actuary through MIG HOLDINGS S.A., 10, El. Venizelou str., 106 71 Athens, Greece Page 69

NOTES TO THE FINANCIAL STATEMENTS st OF DECEMBER 31 2025 the use of the projected unit credit method. Regarding the prepayment for 2024, the selected rate follows the tendency of iBoxx AA Corporate Overall 10+ EUR indices, which is regarded as consistent with the provisions of IAS 19, i.e. is based on bonds corresponding to the currency and the estimated term relative to employee benefits as well as appropriate for long-term provisions. A defined benefit plan establishes, based on various parameters, such as age, years of service and salary, the specific obligations for payable benefits. Provisions for the period are included in the relative staff costs in the accompanying separate and consolidated Income Statements and comprise of the current and past service cost, the relative financial cost, the actuarial gains or losses and any possible additional charges. Regarding unrecognized actuarial gains or losses, the revised IAS 19 is applied, which includes a number of changes to accounting for defined benefit plans, including: • recognition of actuarial gains/losses in other comprehensive income and their permanent exclusion from the Income Statement, • non-recognition of the expected returns on the plan investment in the Income Statement but recognition of the relative interest on net liability/(asset) of the benefits calculated based on the discount rate used to measure the defined benefit obligation, • recognition of past service cost in the Income Statement at the earliest between the plan modification date or when the relative restructuring or terminal provision are recognized, • other changes include new disclosures, such as quantitative sensitivity analysis. 5.4 Income tax and deferred tax The income tax charge includes current taxes, deferred tax and the differences of preceding financial years’ tax audits. Current income tax Current tax is calculated based on the tax statements of Financial Position from each one of the companies included in the consolidated Financial Statements, according to the tax laws applicable in Greece or other tax regulations applicable for foreign subsidiaries. The income tax expense includes income tax based on each company’s profits as presented on their tax declarations and provisions for additional taxes and is calculated based on the dully or in principal constituted tax rates. Deferred income tax Deferred taxes are taxes or the tax reliefs from the financial encumbrances or benefits of the financial year in question, which have been allocated or shall be allocated to different financial years by the tax authorities. Deferred income tax is determined under the liability method deriving from the temporary differences between the book value and tax base of assets and liabilities. There is no deferred income tax if it derives from the initial recognition of an asset or liability at a transaction, other than at a business combination, and the recognition did not affect either the accounting or the tax profit or loss. Deferred tax assets and liabilities are measured in accordance with the tax rates in effect in the financial year during which an asset or a liability shall be settled, taking into account the tax rates (and tax regulations) which have been or are effectively in force until the Statement of Financial Position reporting date. In case where it is not possible to clearly determine the time needed to reverse the temporary differences, the tax rate applied is the one in force in the day after the Statement of Financial Position reporting date. Deferred tax assets are recognized when there is taxable income and a temporary difference which creates a deferred tax asset. Deferred tax assets are re-examined on each reporting date and are MIG HOLDINGS S.A., 10, El. Venizelou str., 106 71 Athens, Greece Page 70

NOTES TO THE FINANCIAL STATEMENTS st OF DECEMBER 31 2025 decreased to the extent where there won’t be sufficient taxable income to allow the utilization of the benefit as a whole or in part of the deferred tax asset. Deferred income tax is recognized for the temporary differences derived from investments in subsidiaries and associates, except in the case whereby the temporary differences reversal is controlled by the Group and is probable that the temporary differences will not be reversed in the foreseeable future. Most changes in the deferred tax assets and liabilities are recognized as part of the tax expenses in the Income Statement for the financial year. Only those changes in assets and liabilities which affect the temporary differences are recognized directly in the Group’s equity resulting in the relative change in deferred tax assets or liabilities to be recognized in equity. 5.5 Operating segments The Company’s BoD is the main corporate body responsible for business decision-making. The BoD reviews all of the internal financial reports in order to assess the Company’s and Group’s performance and take decisions on the allocation of resources. The Management has set the operating segments based on the said internal reports. The BoD uses different criteria in order to assess the Group’s activities which vary according to the nature of each segment, taking into consideration the risks involved and their cash requirements. MIG’s operating segments are defined as the segments in which the Group operates and on which the Group’s management information systems are based. For the segmentation, the following have been taken into consideration: • the nature of the services; • the regulatory framework; and • the potential risks involved. Following the application of IFRS 8 and based on the Management’s approach have been identified the following operating segments. The operating segments of the Group and the main consolidated companies (subsidiaries and associates) are presented below: • Financial Services [MIG, MIG AVIATION HOLDINGS, MIG LEISURE (under liquidation), ATHENIAN INVESTMENTS (under liquidation)], • Real Estate (RKB). 5.6 Conversion into Foreign Currency The consolidated Financial Statements are presented in Euro, which is the functional currency and the Group’s reporting currency. Foreign currency transactions are converted into the functional currency by using the exchange rates applicable on the date when the said transactions are performed. The monetary assets and liabilities which are denominated in foreign currency are converted into the Group’s functional currency on the Statement of Financial Position reporting date using the prevailing exchange rate on that day. Any gains or losses due to translation differences that result from the settlement of such transactions during the period, as well as from the conversion of monetary assets denominated in foreign currency based on the prevailing exchange rates on the Statement of Financial Position reporting date, are recognized in the Income Statement. MIG HOLDINGS S.A., 10, El. Venizelou str., 106 71 Athens, Greece Page 71

NOTES TO THE FINANCIAL STATEMENTS st OF DECEMBER 31 2025 6 SIGNIFICANT ACCOUNTING ESTIMATES AND MANAGEMENT ASSESSMENTS The preparation of the Financial Statements in accordance with the International Financial Reporting Standards (IFRS) requires the Management to make judgments, estimates and assumptions which affect assets and liabilities, contingent receivables and liabilities disclosures as well as revenues and expenses during the periods presented. In particular, amounts included in or affecting the financial statements, as well as the related disclosures, are estimated through making assumptions about values or conditions that cannot be known with certainty at the time of preparation of the financial statements and therefore actual results may differ from what has been estimated. An accounting estimate is considered significant when it is material to the financial position and income statement of the Group and requires the most difficult, subjective or complex judgments of the management. Estimates and judgments of the Management are based on past experience and other factors, including expectations for future events that are deemed to be reasonable in the circumstances, and are constantly reassessed on the basis of all available information. The Group assesses such estimates on an ongoing basis, based on historical results and experience, holding meetings with experts, trends and other methods that are considered reasonable in the circumstances, as well as projections regarding their potential change in the future. (1) Measurement of expected credit losses Impairment of financial assets is based on assumptions regarding default risk and percentages of expected credit losses. In particular, the Group's Management applies judgments under selecting such assumptions, as well as under selecting the inflows for the purposes of calculating impairment, based on the historical data, the current market conditions and the projections for the future financial sizes at the end of the reporting period. Regarding contractual assets, trade receivables and leases, the simplified approach of IFRS 9 is applied, calculating the expected credit losses over the life of those items using a table of projections. This table is based on historical data but is adjusted in such a way that it should reflect the projections for the future economic environment. The correlation between the historical data, the future financial conditions and the expected credit needs making significant estimates. The amount of expected credit losses depends to a large extent on changes in the circumstances and the projections of the future financial conditions. Moreover, historical data and projections for the future may not lead to conclusions indicative of the actual amount of default on customer liabilities in the future (further information is provided in Notes 4.3 and 15). (2) Fair Value Measurement of investment property Estimates relating to fair value measurement of investment property are determined based on appraisal reports carried out by independent real estate appraisal firm, which assess the fair value of investment property according to international accepted appraisal methods. The most appropriate indication of fair value is the existing current values in an active market for relevant rental and other agreements. In case that the abovementioned information is not available, the value is determined through a range of reasonable estimates of fair values. In most cases, Discounted Cash Flows was assessed as the most appropriate valuation method, since the real estate properties are held by the Group for investment purposes and they are already leased or planned to be leased. Discounted cash flows models are based on reliable estimates of future cash flows, which derive from the lease terms of existing rentals and (where possible) from external data, such as current rentals for similar properties in the same location and condition, using discount rates which depict the current market estimate regarding the uncertainty of the amount and timing of these cash flows. The application of discounted cash flow models involves the use of assumptions to estimate fair value, which are related to the receipt of contractual rentals, expected future market rentals, vacancy periods, maintenance MIG HOLDINGS S.A., 10, El. Venizelou str., 106 71 Athens, Greece Page 72

NOTES TO THE FINANCIAL STATEMENTS st OF DECEMBER 31 2025 expenses and appropriate discount rates. Further information regarding the key assumptions is included in Note 42.2. (3) Contingent Assets and Liabilities The Group is involved in court claims and compensations during its ordinary activities. The Management judges that any settlement would not significantly influence the Group’s financial position on 31/12/2025. The Management assesses the outcome of pending legal cases, according to information received from the Legal Department and collaborating legal offices. Such information arises from the recent developments in the legal cases they handle. In case of a probable outflow from company’s resources for the settlement of liability and the amount can be estimated reliably, the Management will make the necessary provisions. Defining the amount necessary to settle the liability is based on the Management's estimates and a number of factors that require judgment. Changes in judgments or estimates are likely to result in an increase or decrease in the Group's liabilities in the future. When additional information becomes available, the Group's Management reviews the events, based on which it might have to review its estimates (see Note 41.3). 7 BUSINESS COMBINATIONS In 2025, MIG proceeded with a share capital increase through cash contributions in its subsidiaries MIG LEISURE, in the amount of € 16k and MIG AVIATION HOLDINGS, in the amount of € 7k. In addition, during 2025, the subsidiary MIG LEISURE proceeded with a capital return of € 5k. 8 OPERATING SEGMENTS The Group applies IFRS 8 “Operating Segments”, under whose requirements the Group recognizes its operating segments based on “management approach” which requires the public information to be based on internal information. The Company’s Board of Directors is the key decision maker and sets the operating segments for the Group. The required information per operating segment is as follows: Revenues and results, assets and liabilities per operating segment are presented as follows:

Amounts in € '000	Financial Services	Real Estate	Group
01/01-31/12/2025
Total income from investment properties	201	10,914	11,115
Fair value adjustments Investment properties	206	810	1,016
Profit on sale of investment property	-	2,633	2,633
Total Income	407	14,357	14,764
Result from operating activity	(2,453)	8,202	5,749
Depreciation and amortization expense	(225)	(46)	(271)
Profit/(Loss) before tax, financing, investing results and total depreciation charges	(2,434)	4,805	2,371
Other financial results	764	56	820
Income from dividends	212	-	212
Financial income	221	44	265
Financial expenses	(116)	(2,668)	(2,784)
Profit/(Loss) before income tax	(1,372)	5,634	4,262
Αssets as of 31/12/2025	59,541	192,782	252,323
Liabilities as of 31/12/2025	5,458	114,102	119,560

MIG HOLDINGS S.A., 10, El. Venizelou str., 106 71 Athens, Greece Page 73

NOTES TO THE FINANCIAL STATEMENTS st OF DECEMBER 31 2025

Amounts in € '000	Financial Services	Real Estate	Other	Group
01/01-31/12/2024
Total income from investment properties	181	9,754	-	9,935
Fair value adjustments Investment properties	371	780	-	1,151
Profit on sale of investment property	-	273	-	273
Total Income	552	10,807	-	11,359
Result from operating activity	(2,597)	5,052	(6)	2,449
Depreciation and amortization expense	(249)	(26)	-	(275)
Profit/(Loss) before tax, financing, investing results and total depreciation charges	(2,719)	4,025	(6)	1,300
Other financial results	899	5,818	-	6,717
Income from dividends	185	-	-	185
Financial income	207	41	-	248
Financial expenses	(10)	(3,171)	-	(3,181)
Profit/(Loss) before income tax	(1,316)	7,740	(6)	6,418
Αssets as of 31/12/2024	58,015	206,769	-	264,784
Liabilities as of 31/12/2024	2,575	133,723	-	136,298

The reconciliation of revenue, operating profit and loss, assets and liabilities of each segment with the respective amounts of the Financial Statements are analyzed as follows:

Amounts in € '000
Revenues	01/01- 31/12/2025	01/01- 31/12/2024
Total revenues for reportable segments	11,115	9,935
Adjustments	-	-
Revenues of statement of comprehensive income	11,115	9,935

Amounts in € '000
Profit	01/01- 31/12/2025	01/01- 31/12/2024
Total profit / (loss) for reportable segments	4,262	6,418
Adjustments	-	-
Profit before income tax	4,262	6,418

Amounts in € '000
Assets	31/12/2025	31/12/2024
Total assets for reportable segments	252,323	264,784
Elimination of receivable from corporate headquarters	(40,188)	(45,876)
Entity's assets	212,135	218,908

Amounts in € '000
Liabilities	31/12/2025	31/12/2024
Total liabilities for reportable segments	119,560	136,298
Elimination of payable to corporate headquarters	(40,188)	(45,876)
Entity's liabilities	79,372	90,422

MIG HOLDINGS S.A., 10, El. Venizelou str., 106 71 Athens, Greece Page 74

NOTES TO THE FINANCIAL STATEMENTS st OF DECEMBER 31 2025 Disclosure of geographical information:

Amounts in € '000
Segment results 31/12/2025	Greece	European countries	Group
Total revenues of investment properties from external customers	201	10,914	11,115
Non-current assets*	4,167	188,326	192,493

Amounts in € '000
Segment results as of 31/12/2024	Greece	European countries	Group
Total revenues of investment properties from external customers	181	9,754	9,935
Non-current assets 31/12/2024	3,627	204,059	207,686

* Non-current assets do not include the “Financial Assets” as well as the “Deferred Tax Assets” as in compliance with the provisions of IFRS 8. Disclosure of major customer: 11.6% of total revenue from the real estate operating segment comes from one customer. 9 PROPERTY, PLANT AND EQUIPMENT & RIGHT-OF-USE ASSETS 9.1 Property, plant and equipment The changes in the Group’s property, plant and equipment account are analyzed as follows:

THE GROUP
	31/12/2025			31/12/2024
Amounts in € '000	Land & Buildings	Furniture & Fittings	Total	Land & Buildings	Furniture & Fittings	Total
Gross book value at the beginning	438	1,077	1,515	438	1,102	1,540
Additions	-	46	46	-	15	15
Disposals / Write-offs	-	-	-	-	(40)	(40)
Exchange differences on cost	-	1	1	-	-	-
Other movements/Reclassifications	-	(5)	(5)	-	-	-
Gross book value at the end	438	1,119	1,557	438	1,077	1,515
Accumulated depreciation at the beginning	(425)	(982)	(1,407)	(347)	(985)	(1,332)
Depreciation charges	(13)	(23)	(36)	(78)	(37)	(115)
Depreciation of disposals / write-offs	-	-	-	-	40	40
Other movements/Reclassifications	-	4	4	-	-	-
Accumulated depreciation at the end	(438)	(1,001)	(1,439)	(425)	(982)	(1,407)
Net book value at the end	-	118	118	13	95	108

The changes in the Company’s property, plant and equipment account are analyzed as follows: MIG HOLDINGS S.A., 10, El. Venizelou str., 106 71 Athens, Greece Page 75