Annual Report 2025 – ÖBB-Infrastruktur AG

ÖBB-Infrastruktur Aktiengesellschaft Consolidated Management Report | Consolidated Financial Statements 215 The ÖBB Group, therefore, expects that the EURIBOR will continue to exist for the foreseeable future and can be used for both existing and new contracts. Simultaneously, the ÖBB Group is keeping a close eye on regulatory developments, in particular, publications by ESMA, the European Commission and the relevant benchmark administrators. The ÖBB Group currently has no EURIBOR-linked loan agreements with fully robust fallback clauses that comply with the BMR. However, various industry initiatives – including working groups of the European Working Group on Euro Risk-Free Rates – have drawn up recommendations for fallback clauses, which the ÖBB Group will gradually implement in future contracts. In order to ensure regulatory compliance, we hold regular consultations with the financing banks, seek technical clarification from SAP consultants regarding the technical implementation of the fallback mechanisms, and maintain an ongoing dialogue within the Treasury working group. These measures ensure that the Group is prepared for any future changes to the reference interest rate framework. Sensitivity analysis for interest rate risk IFRS7 requires sensitivity analyses to be performed to show the effects of hypothetical changes in market interest rates on profit or loss and equity. The periodic effects are determined by applying the hypothetical changes in risk variables to the holdings of financial instruments as of the reporting date. It is assumed that the holdings as of the reporting date are representative of the year as a whole. Changes in the market interest rates of primary financial instruments with fixed interest rates only affect profit or loss if these are measured at fair value. Accordingly, all fixed-interest financial instruments measured at amortised cost are not subject to interest rate risks. Changes in market interest rates of primary floating-rate financial instruments whose interest payments are not hedged against interest rate risks by means of cash flow hedges are included in the calculation of the profit-or-loss-related sensitivities. Effect in Statement of Profit or Loss Sensitivity analysis for interest rate risk as of 31.12.2025 in EUR million +100 base points -100 base points Assets Cash and cash equivalents 0.3 -0.3 Liabilities Financial liabilities -0.1 0.1 Effect in Statement of Profit or Loss Sensitivity analysis for interest rate risk 31.12.2024 in EUR million +100 base points -100 base points Assets Cash and cash equivalents 1.3 -0.9 Liabilities Financial liabilities -0.7 0.7 Other liabilities -0.7 0.7 There are no interest derivatives as of 31.12.2025 and 31.12.2024. 29.2.b. Currency risk The ÖBB-Infrastruktur Group is exposed to exchange rate risks resulting primarily from original financial liabilities denominated in foreign currencies. As of the reporting date, the ÖBB-Infrastruktur Group was not exposed to any significant risks relating to foreign currency liabilities. All cash flows (lease payments and returns on assets) relating to cross-border leases are settled with matching maturities in US dollars. Notwithstanding default on the investments, therefore, the ÖBB-Infrastruktur Group is not exposed to any currency risk in connection with these transactions.