Decision on Reporting of the Credit Guarantee Fund of Montenegro to the Central Bank of Montenegro

Pursuant to Article 44 paragraph 2 item 3 of the Central Bank of Montenegro Law (OGM 40/10, 06/13, 7/17, 125/23), Article 33 paragraph 2 of the Law on Credit Guarantee Fund of Montenegro (OGM 89/25) and Article 42 paragraph 13 of the Law on Accounting (OGM 84/25), the Council of the Central Bank of Montenegro, at its meeting held on 5 February 2026, passed the following DECISION ON REPORTING OF THE CREDIT GUARANTEE FUND OF MONTENEGRO TO THE CENTRAL BANK OF MONTENEGRO
Article 1
This Decision shall regulate types, format, and content of the reports and data that the Credit Guarantee Fund of Montenegro (hereinafter: the Credit Guarantee Fund) shall submit to the Central Bank of Montenegro (hereinafter: the Central Bank), and the deadlines for their submission.
Article 2
(1) The Credit Guarantee Fund shall submit to the Central Bank the following quarterly reports:
1) Balance Sheet of the Credit Guarantee Fund (Template KGF-BS);
2) Profit and Loss Statement of the Credit Guarantee Fund (Template KGF-BU);
3) Structure of Capital (Template KGF-KAP);
4) Statistical Data (Template KGF-STP);
5) Overview of Deposits with Central Banks and Credit Institutions (Template KGF￾DEP);
6) Overview of Investments in Securities (Template KGF-HOV);
7) Overview of Guarantees Issued to Lenders (Template KGF-G);
8) Structure of Guarantees by Loan Beneficiaries (Template KGF-KK);
9) Structure of Guarantees per Economic Activity of the Loan Beneficiaries (Template
KGF-N-KK);
10)Structure of Guarantees by Loan Purpose (Template KGF-D-KK); 11)Overview of Guarantees with Executed Payments due to Guaranteed Event Occurrence (Template KGF-P-GD); 12)Cash Flow Statement of the Credit Guarantee Fund (Template KGF-TG); 13)Statement on Changes in Equity (Template KGF-PK). (2) The Credit Development Fund shall submit to the Central Bank the reports specified in paragraph (1) of this Article no later than 20 days following the expiry of the reporting quarter. (3) Notwithstanding paragraph (2) of this Article, the Credit Development Fund shall submit to the Central Bank the reports for the last quarter of the business year based on the final information no later than 15 February of the following year.

Article 3
The Credit Development Fund shall compile and submit the reports to the Central Bank using the templates that are enclosed to this Decision and make an integral part thereof.
Article 4
The Credit Development Fund shall submit reports referred to in this Decision in electronic form, and in hard copy upon the Central Bank request.
Article 5
The reports referred to in Article 2 paragraph (1) items 1), 2), 12) and 13) of this Decision shall be published on the website of the Central Bank within five days following that of their receipt.
Article 6
The Central Bank shall not be liable for the accuracy of data contained in the submitted financial statements.
Article 7
The Credit Development Fund shall submit to the Central Bank the first reports in line with this Decision for the quarter following the quarter in which it commenced its operations.
Article 8
This Decision shall enter into force on the eighth day following that of its publication in the “Official Gazette of Montenegro”. THE COUNCIL OF THE CENTRAL BANK OF MONTENEGRO CHAIRPERSON G O V E R N O R, Irena Radović, m.p. Decision number: 0101-1167-3/2026 Podgorica, 5 February 2026

ANNEX
BALANCE SHEET OF THE CREDIT GUARANTEE FUND Template KGF-BS (EUR 000) ASSETS Position Amount A. UNPAID SUBSCRIBED CAPITAL 001 B. NON-CURRENT ASSETS (003+008+016) 002 I INTANGIBLE INVESTMENTS (004 do 007) 003
1. Investments in development 004
2. Concessions, patents, licences and similar rights and other intangible
investments 005
3. Goodwill 006
4. Prepayments for intangible investments and intangible investments under
preparation 007
II PROPERTY, PLANT, EQUIPMENT AND BIOLOGICAL ASSETS (009+010+011+015) 008
1. Land and buildings 009
2. Plant and equipment 010
3. Other installed equipment, tools and equipment (012+013+014) 011
3.1. Investment properties 012
3.2. Biological assets 013
3.3. Other unspecified material non-current assets 014
4. Prepayments for property, plant, equipment and biological assets and property,
plant, equipment and biological assets under preparation 015 III LONG-TERM FINANCIAL INVESTMENTS AND LONG-TERM RECEIVABLES (017 to 023) 016
1. Equity participation in dependent legal persons 017
2. Long-term loans to parent and dependent legal persons 018
3. Equity participation in legal persons (excluding dependent legal persons) 019
4. Long-term loans to legal persons with equity participation (excluding dependent
legal persons) 020
5. Equity participations measured at equity method 021
6. Long-term financial investments (loans granted and securities issued) 022
7. Other long-term financial investments and receivables 023
C. DEFERRED TAX ASSETS 024
D. CURRENT ASSETS (026+031+039+043+044) 025
I. INVENTORIES (027 to 030) 026
1. Inventory of materials (fabrication material, spare parts, small inventory and car
tiers) 027
2. Work in progress 028
3. Finished products and goods 029
4. Prepayments given 030
II. SHORT-TERM RECEIVABLES (032 to 035) 031

1. Receivables from buyers 032
2. Receivables from parent and dependent legal persons 033
3. Receivables from other connected persons 034
4. Other receivables (036+037+038) 035
4.1. Receivables for overpaid income tax 036
4.2. Receivables on value added tax 037
4.3. Other unmentioned receivables 038
III. SHORT-TERM FINANCIAL INVESTMENTS (040 to 042) 039
1. Equity participation in dependant legal persons intended for trading 040
2. Redeemed own shares and redeemed own participation interests 041
3. Other short-term financial investments 042
IV. CASH IN ACCOUNTS AND IN HAND 043
V. NON-CURRENT ASSETS FOR SALE AND ASSETS FROM DISCONTINUED
OPERATIONS 044
E. PREPAYMENTS AND ACCRUALS 045
F. TOTAL ASSETS
(001+002+024+025+045) 046
LIABILITIES AND CAPITAL
A. CAPITAL (102+103+104+105+111+116) 101
I. TIER 1 CAPITAL 102
II. UNPAID, SUBSCRIBED CAPITAL 103
III. ISSUE PREMIUM 104
IV. PROVISIONS (106+107+108+109-110) 105
1. Legal reserves 106
2. Statutory reserves 107
3. Other reserves 108
4. Positive revaluation reserves and unrealised gains on financial assets and other
components of other comprehensive income 109
5. Negative revaluation reserves and unrealised losses on financial assets and
other components of other comprehensive income 110
VI. RETAINED EARNINGS OR LOSS (112+113-114-115) 111
1. Retained earnings from previous years 112
2. Retained earnings for the current year 113
3. Loss of previous years 114
4. Loss of current year 115
VIII. NON-CONTROLLING INTEREST 116
B. LONG-TERM PROVISIONS AND LONG-TERM LIABILITIES (118+122) 117
I. LONG-TERM PROVISIONS (119 to 121) 118
1. Provisions for employee benefits and other benefits 119
2. Provisions for expenses in the warranty period 120
3. Other long-term provisions 121
II. LONG - TERM LIABILITIES ( 123+124) 122
1. Long-term loans 123

2. Other long-term liabilities 124
C. DEFERRED TAX LIABILITIES 125
D. LONG-TERM DEFERRED INCOME AND RECEIVED DONATIONS 126 Е. SHORT-TERM PROVISIONS AND SHORT-TERM LIABILITIES (128+129) 127 I SHORT-TERM PROVISIONS 128 II SHORT-TERM LIABILITIES (130 to 137) 129
1. Liabilities arising from loans and borrowings from persons other than credit
institutions 130
2. Loan liabilities from credit institutions 131
3. Prepayments, deposits and bails received 132
4. Liabilities to suppliers 133
5. Liabilities on bills of exchange 134
6. Liabilities to the parent and dependent legal persons 135
7. Liabilities to other connected persons 136
8. Other operating liabilities and other short-term liabilities (138 to 142) 137
8.1. Other operating liabilities 138
8.2. Other short-term liabilities 139
8.3. Liabilities on value added tax and other public revenues 140
8.4. Liabilities on corporate income taxes 141
8.5. Liabilities arising from assets held for sale and business that has been
discontinued 142
F. ACCRUALS 143
G. TOTAL LIABILITIES AND CAPITAL (101+117+125+126+127+143) 144

PROFIT AND LOSS STATEMENT OF THE CREDIT GUARANTEE FUND Template KGF-BU (EUR 000) POSITION Position Amount

1. Sales revenue - net income 201
2. Change in value of finished goods inventories and work in
   progress
3. Revenue from the effects and goods activation 203
4. Other operating income (205 to 207) 204
   a) Other income from regular operations 205 b) Other operating income 206 c) Income from value adjustments of assets 207
5. Operating expenses (209+210) 208
   a) Cost of goods sold and the cost of materials 209 b) Other operating expenses (depreciation, provisions and other operating expenses) 210 c) Depreciation 210a
6. Wages expenses, wage compensation and other personal
   expenses (212+213) 211 a) Net wage costs, wage compensation and personal expenses 212 b) Tax and contribution costs (214 do 216) 213 1/ Tax costs 214 2/ Pension contribution costs 215 3/ Contribution costs 216
7. Expenses on value adjustments of assets (other than financial)
   (218+219) 217 a) Expenses on value adjustments of non-current assets (excluding financial assets) 218 b) Expenses on value adjustments of current assets (excluding financial assets) 219
8. Other operating expenses 220
   I. Operating result (201+202+203+204-208-211-217-220) 221
9. Income from equity participations (223 do 225) 222
   a) Income from equity participations in dependent legal persons 223 b) Income from equity participations in other connected persons 224 c) Income from equity participations in non-connected legal persons 225
10. Income from other financial investments and loans (interest
    rates, foreign exchange differences and effects of contractual hedging) (227 to 229) a) Income from other financial investments and loans from parent and dependent legal persons 227 b) Income from other financial investments and loans from other connected legal persons 228

c) Income from other financial investments and loans from non￾connected legal persons 229
11. Other income from interest, exchange rate differences and
other contractual hedging effects (231 to 233) 230 a) Financial income from current receivables from parent and dependent legal persons 231 b) Financial income from current receivables from other connected legal persons 232 c) Financial income from current receivables from non-connected legal persons 233
12. Value adjustment of short-term financial assets and financial
investments that are part of current assets (235-236) 234 a) Income from the value adjustment of short-term financial assets and financial investments that are part of current assets 235 b) Costs from the value adjustment of short-term financial assets and financial investments that are part of current assets 236
13. Interest expenses, foreign exchange differences and other
contractual hedging effects (238 to 240) 237 a) Interest expenses, foreign exchange differences and other of contractual hedging effects of relationships with the parent and dependent legal persons b) Interest expenses, foreign exchange differences and other contractual hedging effects of relationships with other connected persons c) Interest expenses, foreign exchange differences and other contractual hedging effects of relationships with non-connected persons
II. Financial income (222+226+230+234–237) 241
III. Operating income before tax (221+241) 242
IV. Net income of operations which is suspended 243
V. Income before tax (242+243) 244
14. Tax expense of the period (246+247) 245
1. Current corporate income tax 246
2. Deferred tax expenses or income for the period 247
15. Profit or loss after tax (244-245) 248
VI. GROSS INCOME OF OTHER INCOME ITEMS / RELATED TO
CAPITAL / (250 to 257) 249
1. Changes in revaluation reserves on property, plant and equipment,
intangible assets and biological assets 250
2. Changes in unrealised gains and losses on translation of foreign
financial statements 251
3. Changes in unrealised gains and losses on equity investments 252
4. Changes in actuarial gains and losses on defined benefit plans (or
losses) in connection with defined benefit plans 253
5. Changes in participation in other comprehensive income of affiliate
undertaking 254
6. Changes in unrealised gains and losses on hedging instruments, net
of investments in foreign operations 255
7. Changes in revaluation reserves based on cash flow hedges 256

8. Other changes in unrealized gains and losses 257
VII. DEFERRED TAX EXPENSES OR INCOME OF THE PERIOD IN
CONNECTION WITH OTHER ITEMS OF INCOME / RELATED TO EQUITY /
VIII. NET INCOME OF OTHER INCOME ITEMS / RELATED TO
CAPITAL / (249-258) 259
IX. NET COMPREHENSIVE INCOME ( 248-259) 260
X. EARNINGS PER SHARE 261
1. Basic earnings per share 262
2. Reduced (diluted) earnings per share 263
XI. NET INCOME BELONGING TO OWNERS OF PARENT LEGAL
PERSON 264
XII. NET INCOME BELONGING TO NON-CONTROLLING
PARTICIPATION INTERESTS 265

STRUCTURE OF CAPITAL
Template KGF-KAP
(EUR 000)
No. DESCRIPTION AMOUNT
11 TOTAL
STATISTICAL DATA
Template KGF-STP
(EUR 000)
No. AVERAGE VALUES Amount
I BALANCE SHEET ITEMS
A ASSETS
1. Average amount of total assets
B LIABILITIES
2 Average amount of total liabilities C CAPITAL 3 Average amount of total capital 4 Average amount of Tier 1 capital II NUMBER OF EMPLOYEES
1. Number of full-time employees
2. Number of part time employees
3. Number of employees based on effective working hours
III NUMBER OF CREDIT GRUARANTEE FUND’S ORGANISATIONAL UNITS

OVERVIEW OF DEPOSITS WITH CENTRAL BANKS AND CREDIT INSTITUTIONS Template KGF-DEP (EUR 000) No. Central bank/credit institution Amount of deposit Deposit agreement date Maturity of deposit Head office of the central bank/credit institution Credit rating 31 other 32 TOTAL

OVERVIEW OF INVESTMENTS IN SECURITIES Template KGF-HOV (EUR 000) No. Name of the issuer of security Type of issuer Date of transaction Nominal value of security Fair value of security Maturity Credit rating of issuer of security 31 other 32 TOTAL

OVERVIEW OF GUARANTEES ISSUED TO LENDERS Template KGF-G (EUR 000) No. Name of lender Date of entering into agreement Agreed loan amount Amount of issued guarantee Loan maturity Credit rating of the issuer of security 31 other 32 TOTAL

STRUCTURE OF GUARANTEES BY LOAN BENEFICIARIES Template KGF-KK (EUR 000) No Description Number of guarantees issued Nominal amount of guarantees issued (original maturity) Nominal amount of guarantees issued (remaining maturity) Up to 1 year From 1 to 3 years From 3 to 7 years Over 10 years TOTAL Up to 1 year From 1 to 3 years From 3 to 7 years Over years TOTAL
1. Natural persons registered for
agriculture business
2.
Other natural persons performing economic activity based on the registration in the registry of administration responsible for specific activity
3. Entrepreneurs
4. Micro enterprises
5. Small enterprises
6. Medium enterprises
Total

STRUCTURE OF GUARANTEES PER ECONOMIC ACTIVITY OF THE LOAN BENEFICIARIES Template KGF-N-KK (EUR 000) No. DESCRIPTION Number of guarantees issued Nominal amount of guarantees issued (original maturity) Nominal amount of guarantees issued (remaining maturity) Up to 1 year From 1 to 3 years From 3 to 7 years Over years TOTAL Up to 1 year From 1 to 3 years From 3 to 7 years Over years TOTAL A LEGAL PERSONS 1 Agriculture, forestry and fishing 2 Mining and quarrying 3 Manufacturing industry 4 Electricity supply 5 Water supply 6 Construction 7 Wholesale, retail trade and repair of motor vehicles and motorcycles 8 Transport and warehousing 9 Accommodation and food services 10 Information and communication 11 Financial and insurance activities 12 Real estate business 13 Professional, scientific and technical activities 14 Other activities A TOTAL legal persons B NATURAL PERSONS performing economic activity based on the registration in the registry of administration responsible for specific activity C ENTREPRENEURS D TOTAL A+B+C

STRUCTURE OF GUARANTEES BY LOAN PURPOSE

Template KGF-D-KK
(EUR 000)
No. DESCRIPTION
Number of guarantees issued
Nominal amount of guarantees issued (original maturity) Nominal amount of guarantees issued (remaining maturity) Up to 1 year From 1 to 3 years From 3 to 7 years Over years TOTAL Up to 1 year From 1 to 3 years From 3 to 7 years Over years TOTAL 1 Liquidity (working assets) Construction and remodelling of construction buildings 3 Refinancing of liabilities 4 Car purchase 5 Purchase of fixed assets 6 Tourist season preparation 7 Other 8 TOTAL

OVERVIEW OF GUARANTEES WITH EXECUTED PAYMENTS DUE TO GUARANTEED EVENT OCCURRENCE Template KGF-P-GD (EUR 000) No. Lender’s name Loan beneficiary’s name Date of loan agreement Agreed amount of loan Amount of guarantee issued Loan maturity Date of submission of payment request Loan balance in the moment of submission of payment request Amount of payment per guarantee

No. Lender’s name
Loan beneficiary’s name
Date of loan agreement
Agreed amount of loan
Amount of guarantee issued
Loan maturity
Date of submission of payment request Loan balance in the moment of submission of payment request Amount of payment per guarantee 31 other 32 TOTAL

CASH FLOW STATEMENT OF THE CREDIT GUARANTEE FUND Template KGF-TG (EUR 000) POSITION No Amount 1 2 3 A. CASH FLOWS FROM OPERATING ACTIVITIES
I. Cash inflows from operating activities (1 to 3) 301
1. Sales and prepayments received 302
2. Interest received from operating activities 303
3. Other inflows from operating activities 304
II. Cash outflows from operating activities (1 to 5) 305
1. Payments to suppliers and prepayments 306
2. Wages, wage compensations and other personal expenses 307
3. Interest paid 308
4. Income tax 309
5. Payment for other public revenues 310
III. Net cash flows from operating activities (I-II) 311
B. CASH FLOWS FROM INVESTMENT ACTIVITIES
I. Cash inflows from investment activities (1 to 5) 312
1. Sales of shares and participating interests 313
2. Sales of intangible assets, property, plant, equipment and
biological assets 314
3. Other financial investments 315
4. Interests received from investment activities 316
5. Dividends received 317
II. Cash outflows from investment activities (1 to 3) 318
1. Purchase of shares and participating interests 319
2. Purchase of intangible assets, property, plant, equipment, and
biological assets 320
3. Other financial investments 321
III. Net cash flows from investment activities (I-II) 322

POSITION No Amount
C. CASH FLOWS FROM FINANCING ACTIVITIES
I. Cash inflows from financing activities (1 to 3) 323
1. Share capital increase 324
2. Long-term and short-term loans 325
3. Other long-term and short-term liabilities 326
II. Cash outflows from financing activities (1 to 4) 327
1. Redemption of own shares and participating interests 328
2.Long-term and short-term loans and other liabilities 329
3. Financial leases 330
4. Dividends paid 331
III. Net cash flows from financing activities (I-II) 332
D. NET CASH FLOW (311+322+332) 333 E. CASH AT THE BEGINNING OF REPORTING PERIOD 334 F. FOREIGN CURRENCY GAINS ON TRANSLATION OF CASH 335 G. FOREIGN CURRENCY LOSSES ON TRANSLATION OF CASH 336 H. CASH AT END OF REPORTING PERIOD (333+334+335-
336) 337

STATEMENT ON CHANGES IN EQUITY
Template KGF-PK
(EUR 000)
Position
DESCRIPTION
Tier 1 capita l
(grou p 30 witho ut
309)
Other capita l (309)
Unpaid subscri bed capital
(group
31)
Issue premi um
(320)
Provisio ns (
321,
322)
Revaluati on reserves, retained earnings and losses (group 33) Retaine d earning s (group 34) Loss (grou p 35) Redeem ed own shares and particip ating interest s (237) Total (2+3+4+5+6+ 7+8-9-10) 1 No 2 No 3 No 4 No 5 No 6 No 7 No 8 No 9 No 10 No 11
1. As at 01/01/____ 401 410 419 428 437 446 455 464 473 482
2.
Effects of retrospective correction of material errors and changes in accounting policies 402 411 420 429 438 447 456 465 474 3. Restated opening balance as at 01/01/________ (nos. 1+2) 403 412 421 430 439 448 457 466 475
4. Net changes in the
year ____ 404 413 422 431 440 449 458 467 476 485
5. As at 31/12/ ____ /
(nos. 3+4) 405 414 423 432 441 450 459 468 477 486 6. Effects of retrospective correction of material errors and changes in accounting policies 406 415 424 433 442 451 460 469 478 487 7. Restated opening balance as at __________ (nos. 5+6) 407 416 425 434 443 452 461 470 479 488
8. Net changes in the
year ____ 408 417 426 435 444 453 462 471 480 489
9. As at 31/12/ ____ /
(nos. 7+8) 409 418 427 436 445 454 463 472 481 490