Annual Report 2025 – ÖBB-Infrastruktur AG

ÖBB-Infrastruktur Aktiengesellschaft Consolidated Management Report | Consolidated Financial Statements 219 in EUR million Carrying amount as of 31.12.2024 Cash flows 2025 Cash flows 2026-2029 Cash flows 2030 onwards Derivative financial liabilities Power derivatives – Cash flow hedges 20.4 78.1 15.0 0.0 Power derivatives not designated as hedges 15.3 50.5 6.0 0.0 Other derivatives not designated as hedges 0.3 0.0 0.3 0.0 Total 36.0 128.6 21.3 0.0 Financial guarantees Other contingent liabilities 12.7 4.4 2.2 6.1 All financial instruments held on the reporting date and for which payments had already been contractually agreed were included. Estimated payments for future new debts were not taken into account in future cash flows. Foreign currency amounts were converted at the closing rate. The following payments are expected with regard to derivative financial assets: Carrying amount in EUR million 31.12.2025 Cash flows 2026 Cash flows 2027-2030 Cash flows 2031 onwards Derivative financial assets Power derivatives not designated as hedges 6.0 18.5 2.4 0.0 Power derivatives – Cash flow hedges 3.9 34.8 44.5 0.0 Other derivatives not designated as hedges 0.2 0.2 0.0 0.0 Total 10.1 53.6 46.9 0.0 Carrying amount in EUR million 31.12.2024 Cash flows 2025 Cash flows 2026-2029 Cash flows 2030 onwards Derivative financial assets Power derivatives not designated as hedges 7.6 43.1 0.6 0.0 Power derivatives – Cash flow hedges 10.6 40.3 54.8 0.0 Total 18.2 83.4 55.4 0.0 29.3. Hedging transactions Hedge accounting The ÖBB Group applies the hedge accounting regulations in accordance with IFRS9 (Hedge accounting) to hedges of assets and liabilities and future cash flows. This reduces volatility in the consolidated statement of profit or loss. A distinction is made between fair value hedges and cash flow hedges, depending on the type of underlying hedged item. The ÖBB Group only applies cash flow hedging. The requirements of IFRS9 for the application of hedge accounting are met by the ÖBB-Infrastruktur Group as follows: At the inception of a hedge, both the relationship between the hedging instrument used as a hedging instrument and the underlying transaction and the objective of the hedge are documented. This includes both the specific allocation of hedging instruments to the corresponding assets and liabilities and planned transactions as well as the assessment of the degree of effectiveness of the used hedging instruments. Existing hedging measures are continually reviewed to ensure that the requirements for hedge effectiveness continue to be met. Should this not be the case and a recalibration of the hedge relationship is not possible, or the hedging instrument expires or is sold or terminated, then the hedge relationship is terminated. The ÖBB-Infrastruktur Group also conducts hedging transactions which do not comply with the formal requirements of IFRS9 but which contribute to economically effective hedging of financial risks in accordance with the principles of the risk management. 29.4. Commodity risks The Energy Plant Management/Energy Management division of ÖBB-Infrastruktur AG is responsible for the procurement of grid-based energy sources and energy-related products (emission certificates, guarantees of origin) in the ÖBB Group. All of these products are either supplied to internal or external customers or used to operate the 16.7 Hz traction current