ÖBB Annual Report 2025

Consolidated Financial Statements 274 Österreichische Bundesbahnen-Holding Aktiengesellschaft Consolidated Financial Statements | Group Management Report 82 Fair value hierarchy – derivatives The following table shows how the fair values of the assets and liabilities recognized at fair value were determined, with categorization into a three-level hierarchy reflecting the proximity to the market of the data included in the determination. Dec 31, 2025 in EUR million Level 1 Level 2 Level 3 Total Derivates designated as hedge instruments 0.0 6.2 0.0 6.2 Derivates without a hedging relationship 0.2 6.0 0.0 6.2 Financial assets 0.2 12.2 0.0 12.4 Derivates without a hedging relationship 0.3 4.6 0.0 4.9 Derivates designated as hedge instruments 0.1 12.9 0.0 13.0 Financial liabilities 0.4 17.5 0.0 17.9 Dec 31, 2024 in EUR million Level 1 Level 2 Level 3 Total Derivates designated as hedge instruments 1.4 11.0 0.0 12.4 Derivates without a hedging relationship 0.6 7.0 0.0 7.6 Financial assets 2.0 18.0 0.0 20.0 Derivates without a hedging relationship 0.3 15.3 0.0 15.6 Derivates designated as hedge instruments 0.0 29.0 0.0 29.0 Financial liabilities 0.3 44.3 0.0 44.6 The levels were determined as follows: Level 1: Quoted prices (unadjusted) are available from an active market for identical financial instruments. Level 2: Other parameters than those stated for Level 1 were used which are observable for the financial instrument (either directly, i.e., as price, or indirectly, i.e., derived from prices). In this respect, discounted cash flow models based on observable market parameters (e.g. market interest rates, etc.) were used for the measurement. For- wards in the electricity sector are valued at market prices (EEX), adjusted for credit risks and interest rate components. Level 3: Parameters were used which are not exclusively based on observable market data. Transfers between the individual levels did not occur. For further details on these financial instruments see Note29.1. 30. Leasing transactions 30.1. Lessor The assets leased to third parties are investment properties (IAS 40) and buildings that are partially leased out; however, the share of the latter is not predominant, which means that it does not fall under the scope of IAS40 or can be reported separately. The vast majority of the leases can be terminated. The infrastructure provided for usage to other railway oper- ators against payment of a usage fee is charged based on a current price list depending on usage (mileage or gross tons transported) and is therefore not classified as a lease but as services provided. In the reporting year, there are 27,000 (py: 27,000) lease agreements, predominantly with indefinite terms, which can be terminated with a notice period of six months maximum. These include 4,000 (py: 4,000) external fixed-term lease agree- ments that end between 2025 and 2112 (py: 2024 and 2112). The long-term agreements relate to building rights granted for property, which are classified as operating leasing. Contingent lease payments relate exclusively to lease agreements. As the leased assets, with the exception of investment property, constitute indivisible parts of buildings such as train sta- tions, a disclosure of the carrying amounts is neither meaningful nor possible.