Annual Report 2025 – ÖBB-Infrastruktur AG

ÖBB-Infrastruktur Aktiengesellschaft Consolidated Management Report | Consolidated Financial Statements 213 C. OTHER NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS 28. Contingent liabilities and long-term obligations 28.1. Contingent liabilities 2025 2024 in EUR million in EUR million Contingent liabilities 12.4 12.7 Total 12.4 12.7 The other contingent liabilities stated in the previous year relate to guarantees and uncertain liabilities, whereby the extent of the cash outflows depends on the future course of business. 28.2. Long-term obligations The ÖBB-Infrastruktur Group has entered into three electricity supply contracts with suppliers with terms expiring in 2027, 2029 and 2042; for part of a traction power supply, the contract runs for the useful life of the facilities. In total, 170 MW is procured annually under these contracts. Measurement using the relevant prices as of 31.12.2025 or the average prices for 2025 (where these are relevant for price determination) resulted in an anticipated obligation of approximately EUR 123.6 million for 2026 (previous year: approximately EUR 172.3 million) and a total obligation of approximately EUR 311.3 million (previous year: approximately EUR 437.3 million) over the remaining term of the contracts. The overall obligation does not include the annual amount of EUR 41.6 million (operating lifetime of systems, previous year: approximately EUR 68.8 million), because it is not known as to how long the systems will remain in operation at the supplier’s premises. This obligation fluctuates with the development of electricity prices. 29. Financial instruments 29.1. Risk Management The ÖBB-Infrastruktur Group is subject to market (interest rate and currency), credit (creditworthiness of contractual partners) and liquidity risks. Financial risk management is regarded as the management of market risks and means the economically oriented control of the portfolios of the individual companies with regard to the development of interest rates, currencies and commodities. The ÖBB-Infrastruktur Group uses derivative financial instruments to hedge these risks economically. Derivative financial instruments are only entered into with reference to an underlying transaction. The core task of risk management is to identify, assess and limit financial risks. Risk limitation does not mean the complete exclusion of financial risks, but a reasonable control of quantified risk positions within a clearly defined framework at all times. ÖBB-Holding AG, which, with the exception of hedging instruments for commodities, carries out financial transactions in the name and for the account of ÖBB-Infrastruktur AG and its subsidiaries only with their consent and on their behalf, has created a risk-oriented control environment that includes guidelines and processes for the assessment of risks, authorisation, reporting and monitoring of financial instruments. The top priority in all financial activities is to protect the assets of the ÖBB-Infrastruktur Group. 29.2. Types of risk Financial risks are defined as follows: – 29.2.a. Interest rate risk – 29.2.b. Currency risk – 29.2.c. Credit risk – 29.2.d. Liquidity risk – 29.4. Commodity risks (electric power price fluctuations)