ÖBB Annual Report 2025

Group Management Report 44 Group Management Report Österreichische Bundesbahnen-Holding Aktiengesellschaft Consolidated Financial Statements | Group Management Report 1 This Management Report complements the Consolidated Financial Statements of Österreichische Bundesbahnen-Holding Aktiengesellschaft, Vienna, (hereinafter referred to as “ÖBB Group”). Its preparation is mandatory pursuant to Article 244 of the Austrian Commercial Code (UGB) and it will be submitted to the Commercial Court Vienna under Company Register number FN 247642 f. The Consolidated Financial Statements as of December 31, 2025 were prepared pursuant to Article245a (2) of the Austrian Commercial Code (UGB) in accordance with the International Financial Accounting Standards (“IFRS/IAS”) issued by the International Accounting Standards Board (“IASB”), the interpretations of the International Financial Reporting Interpretations Committee (“IFRIC”) and the interpretations of the Standards Interpretation Committee (“SIC”), which entered into force and were endorsed by the European Union as of December 31, 2025. This Management Report contains statements and forecasts referring to the future development of the Group and the economic environment in which it operates. Any and all forecasts were based on the information available at the time of consolidation. Actual developments may therefore differ from the expectations described in the Management Report. A. Report on Business Performance and the Economic Situation A.1. Report on business performance Group structure and investments The Austrian Federal Railways are structured in accordance with the Federal Railways Structure Act ( Bundesbahnstrukturgesetz ). Since 2005, the holding structure has been headed by Österreichische Bundesbahnen- Holding Aktiengesellschaft (henceforth “ÖBB-HoldingAG”). It acts as the parent company and is responsible for the strategic direction of the Group. The Republic of Austria holds 100% of the shares in the Company. The share rights are exercised by the Federal Minister of Innovation, Mobility and Infrastructure (BMIMI). ÖBB-Holding AG owns all shares in the three subsidiaries ÖBB-Personenverkehr Aktiengesellschaft (henceforth “ÖBB- Personenverkehr AG”), Rail Cargo Austria Aktiengesellschaft (henceforth “Rail Cargo Austria AG”) and ÖBB-Infrastruktur Aktiengesellschaft (henceforth “ÖBB-Infrastruktur AG”). These three joint stock corporations and their subsidiaries are referred to hereafter as the ÖBB Passenger Transport sub-group, Rail Cargo Austria sub-group and ÖBB Infrastruktur sub- group. The following subsidiaries must also be detailed: ÖBB-Business Competence Center GmbH provides intra-group services (Shared Services) particularly in the areas of human resources, information and communication technology, purchasing and procurement and accounting. ÖBB-WerbungGmbH is the in-house service provider for advertising activities. It is externally responsible for the marketing of all ÖBB billboards. ÖBB-FinanzierungsserviceGmbH is responsible for liquidity management between ÖBB-HoldingAG and the companies in which ÖBB-HoldingAG holds a direct or indirect interest, and provides financing services within the ÖBB Group. The main tasks of ÖBB-HoldingAG are the exercise of share rights in the subsidiaries and at the same time the uniform strategic orientation of the ÖBB Group. This includes the overall coordination of the creation and implementation of the corporate group’s strategies as well as ensuring the transparency of the public funds used. In addition, ÖBB-HoldingAG is responsible for ensuring that all measures are in place to compensate staff within the Group. ESRS 2.SBM-1.40.a The ÖBB Passenger Transport sub-group is Austria’s leading mobility service provider on the rail and bus markets. It is responsible for the conception and implementation of the offer. Together with its subsidiary Österreichische Postbus Aktiengesellschaft (henceforth “Österreichische Postbus AG”), ÖBB-Personenverkehr AG coordinates an optimally coordinated rail and bus service. Rail Cargo AustriaAG is the international freight traffic subsidiary of ÖBB-HoldingAG. It operates on the market together with its subsidiaries and holdings under the umbrella brand Rail Cargo Group (henceforth “RCG”). The home markets are Austria and Hungary. RCG is also present in numerous other European countries. ÖBB-Produktion Gesellschaft mbH (henceforth “ÖBB-ProduktionGmbH”) and ÖBB-Technische Services-Gesellschaft mbH are joint subsidiaries of ÖBB-Personenverkehr AG and Rail Cargo AustriaAG and offer services in the areas of traction and maintenance of rail-bound vehicles. The ÖBB Infrastruktur sub-group operates the rail infrastructure and 1,110 passenger stations and stops in Austria. The properties are managed by ÖBB-Immobilienmanagement Gesellschaft mbh (henceforth “ÖBB-Immobilienmanagement GmbH”), a wholly owned subsidiary of ÖBB-Infrastruktur AG. r t e rt | MR1