Annual Report 2025 – ÖBB-Infrastruktur AG

ÖBB-Infrastruktur Aktiengesellschaft Consolidated Management Report | Consolidated Financial Statements 214 29.2.a. Interest rate risk Risks from the exposure to changes of interest rates are risks to the profitability and the value of the ÖBB-Infrastruktur and may occur in the following forms: – Interest payment risk (increased interest cost due to the market development) – Present value risk (change in value of the portfolio) Risks arising from changes in market interest rates may affect the financial result of the ÖBB-Infrastruktur Group due to the given balance sheet structure. It is, therefore, important to limit possible market interest rate fluctuations above a certain level, for example by using derivative financial instruments to keep their impact on earnings development to a minimum. The use of appropriate derivative instruments for the management of interest rate risks (interest rate swaps) is based on portfolio analyses and recommendations by ÖBB-Holding AG and corresponding decisions by the companies of the ÖBB- Infrastruktur AG subgroup. The ÖBB-Infrastruktur Group is exposed to interest rate risks largely in the Eurozone. Taking into account the given debt structure, interest rate derivatives are used as needed to implement the risk strategy as efficiently as possible. Financial instruments (current and non- current) 31.12.2025 in EUR million Carrying amount financial instruments (see Note 29.5) Non-interest sensitive financial instruments Fixed interest financial instruments Variable interest financial instruments Financial assets 167.5 16.0 151.5 0.0 Trade receivables 205.9 205.9 0.0 0.0 Other receivables and assets 79.7 79.7 0.0 0.0 Cash and cash equivalents 30.2 0.0 0.0 30.2 Total 483.3 301.6 151.5 30.2 thereof from affiliated companies 243.7 113.9 99.6 30.2 Financial liabilities 33,967.7 326.4 33,587.6 53.7 Trade payables 1,113.9 1,113.9 0.0 0.0 Other liabilities 19.8 19.8 0.0 0.0 Total 35,101.4 1,460.1 33,587.6 53.7 thereof due to the Federal Government (OeBFA) 23,586.0 0.0 23,586.0 0.0 thereof from affiliated companies 670.9 106.2 511.8 53.0 Financial instruments (current and non- current) 31.12.2024 in EUR million Carrying amount financial instruments (see Note 29.5) Non-interest sensitive financial instruments Fixed interest financial instruments Variable interest financial instruments Financial assets 217.5 23.9 193.6 0.0 Trade receivables 220.8 220.8 0.0 0.0 Other receivables and assets 60.0 60.0 0.0 0.0 Cash and cash equivalents 35.1 0.0 0.0 35.1 Total 533.4 304.7 193.6 35.1 thereof from affiliated companies 252.7 113.1 104.5 35.1 Financial liabilities 31,458.0 325.7 31,060.0 72.3 Trade payables 1,262.1 1,262.1 0.0 0.0 Other liabilities 67.0 61.0 0.0 6.0 Total 32,787.1 1,648.8 31,060.0 78.3 thereof due to the Federal Government (OeBFA) 11,916.4 0.0 19,999.4 0.0 thereof from affiliated companies 203.8 131.5 0.0 72.3 *) Adjusted comparative values. Non-interest sensitive financial instruments are non-interest-bearing items. In recent years, a fundamental reform of the key reference interest rates has been implemented globally. The previously established “Interbank Offered Rates” (IBORs) have – with the exception of the EURIBOR – largely been replaced by alternative, virtually risk-free reference rates (Risk-Free Rates, RFRs). While LIBOR rates were phased out completely at the end of 2021 and 2023 respectively, EURIBOR has been robustly restructured as part of a hybrid reform process mandated by the EU Benchmark Regulation (BMR) and remains permissible and usable as a reference rate.