Modality of allocating the direct costs taken into account for the calculation of the IAC at CFR 

11,5 11,5 10,5 4,95 In Table No. 7 a comparative analysis of the unit costs values for line activity that has seen a significant change from the old values is presented. CFR Network Statement - 2026 ANNEX 25.c Version:15.1.0 Update: 15.01.2026 Pag: 13 / 20  Compania Naţională de Căi Ferate “CFR” S.A. România Table No. 7 - Comparative values of Ttsn (RON/km) Weight Ttsn Calculation period Traffic type Ttsn A B C D cl.A : cl.D freight 4,65 4,35 4,23 4,00 1,16 Previous passengers 4,7 4,39 4,25 4,00 1,18 determined within the framework of the freight + 5,00 4,05 3,10 2,15 2,33 passengers Project It is noted first of all that Ttsn has the same value for passenger traffic as for freight traffic, since it has been considered that the maintenance and repair work is the same for a line on which both freight and passenger trains run. CFR used an inadequate structure of line costs (Ttsn), which varied between RON 4.65 for A category (lines with speeds of 121-160 km / h) and RON 4.00 for D category (lines with speeds below 50 km / h), i.e. a ratio of 1.17 between the costs of these categories (basically the costs were comparable), a structure that did not correspond to reality. Under the new conditions, a ratio of 2.33 of the Ttsn for A category lines versus the Ttsn for D category lines shall be ensured. This ratio is consistent with the ratio of the equivalent coefficients of the assimilated maintenance and repair activity in the Instruction 300 for the same line categories, which is 2.07 (as shown in Chapter 4.5.a) and with the actual effort with the current maintenance by line categories. In conclusion, the new Ttsn coefficients ensure a more appropriate coverage of the costs broken down by line categories and type of traffic. 4.6 Modulation of the direct cost of the IAC EU Regulation 2015/909 provides in art. 5(2) the possibility of modulating the average unit costs with different parameters in order to take into account the different levels of wear and tear caused to the infrastructure. In principle, the railway infrastructure charging methodology used by CFR does not explicitly provide for the modulation of the direct costs related to the IAC (i.e. the coefficients Ttsn, Tc and Ttse). This would mean calculating and applying coefficients to their value according to some wear parameters. However, it may be borne in mind that the formula for calculating the Tonnage IAC in the methodology has a term that can be interpreted as a modulation parameter. Unit value of tonnage IAC (per km) = Ttsn (1 + (Gross tonnage – Tmin) x Ft], or Tonnage IAC = Ttsn + Ttsn (Gross Tonnage – Tmin) x Ft In this case it can be interpreted that Ttsn is modulated by adding a tonnage parameter (mass of the train) 'Ttsn (Gross Tonnage - Tmin) x Ft'. CFR Network Statement - 2026 ANNEX 25.c Version:15.1.0 Update: 15.01.2026 Pag: 14 / 20  Compania Naţională de Căi Ferate “CFR” S.A. România Exemplifying for a freight train of 2500 tons, we have: Tonnage IAC = Ttsn + Ttsn (2,500-60) x 0.00025, i.e. Tonnage IAC = Ttsn + Ttsn x 0.61, and the modulation coefficient that would be added to the Ttsn value is (Ttsn x 0.61). It can thus be considered that modulation with the tonnage parameter is taken into account when carrying out the simulations for the determination of the charging elements presented in Chapter 4.5.d), which among the 7 input elements also have 'the tonnages of freight trains and the tonnages of passenger trains broken down by line category' as well as the 'tonnage factor”. CFR Network Statement - 2026 ANNEX 25.c Version:15.1.0 Update: 15.01.2026 Pag: 15 / 20  Compania Naţională de Căi Ferate “CFR” S.A. România 5. DETERMINATION OF DIRECT COSTS FOR THE BASIC CHARGING ELEMENTS FOR THE YEAR 2023 In 2022, CFR initiated an action to update the costs related to IAC using the method described in chapters 3 and 4 above, with the financial-accounting data and traffic volume for 2021. The amount of direct costs of the IAC by type of activity was thus determined. The share of costs related to the IAC by type of activity applicable for 2024 and the share of cost types related to total operating expenses is that presented in Chapter 4.4. The electrification coefficient (Ttse) was determined by reporting the direct costs with the electrification activity to the volume of the train km with electric traction, resulting in a value of 0,676 RON / km. At the same time, the value of Ft for freight traffic was reduced from 0.00025 to 0.00020, given that the structure of the RU's fleet of freight wagons has improved. In order to establish the values of the basic tariff elements, the previous expertise developed within the consultancy project for the IAC calculation was used. In a first step, the value of the elements Ttsn and Tc shown in Table 6 of Chapter 4.5.d was used. The simulations carried out with the support of SC Informatica Feroviară SA which has developed an IT model for highlighting the direct costs related to the IAC according to the lines categories and types and volumes of traffic (freight/passengers) as well as the values of the Ttsn and Tc tariff elements presented in the previous paragraph (for Ttse the value of 0,676 was used) for a number of over 900,000 trains circulated in 2021, highlighted a 98.63% coverage of the direct costs of IAC. In these circumstances, CFR applied the correction index related to table no 8.1 to the value of Ttsn and Tc on each line category and the simulations carried out under these conditions revealed a total coverage of the direct costs related to IAC. The new values of the basic charging elements are presented in Table No. 8.2. Table no. 8.1 - 2024 correction index values Coeficient Coeficient Traffic type Ttsn Tc Passenger 0,677 1,513 Freight 0,677 1,403 Table no. 8.2 - The values of the basic charge elements for the year 2024 (lei/km) Traffic Line category Element Ttse Ft type A B C D Passengers Tsn 3,45 2,8 2,14 1,48 0,676 0.00014 CFR Network Statement - 2026 ANNEX 25.c Version:15.1.0 Update: 15.01.2026 Pag: 16 / 20  Compania Naţională de Căi Ferate “CFR” S.A. România Tc 16,457 16,457 15,026 7,085 Tsn 3,45 2,8 2,14 1,48 Freight 0.00020 Tc 9,562 9,562 9,108 4,085 The results of this action indicated an increase in the TUI with an average forecast value of 14.24% and the new values of the basic tariff elements were applied starting from 01.03.2024 (date provided in access contracts with OTF valid from 10.02.2024 to 14.12.2024). CFR Network Statement - 2026 ANNEX 25.c Version:15.1.0 Update: 15.01.2026 Pag: 17 / 20  Compania Naţională de Căi Ferate “CFR” S.A. România 6. HOW TO TAKE INTO ACCOUNT THE COST CATEGORIES FOR DETERMINING THE IAC ACCORDING TO THE REGULATION (EU) 2015/909 6.1 Cost categories not taken into account in the calculation of IAC (art. 4 of R 2015/909) In accordance with Article 4(1) of EU Regulation 2015/909, the following costs have not been included in the calculation of IAC direct costs, a) for the fixed costs related to the making available of a section of infrastructure have been deducted: - fixed personnel costs, regardless of the volume of traffic resulting from Annex 1 (personnel expenses); - other (fixed) ineligible costs represented by the e.g. of meal vouchers and travel permits for the family members of the CFR employees involved in the IAC eligible traffic activities, all the costs of the traffic safety personnel; - fixed costs for the staff of the sections where there is no railway traffic (indicated in Annex 1 personal expenses); b) no costs were highlighted that are not related to payments made by CFR. Costs that are not related to the provision of PMA were excluded as follows: - costs related to the provision of TSA; - costs for other charges related to services outside the PMA (e.g. driving traffic on rented sections; - the administrative costs for the two types of tariffs provided outside the PMA (TSA and other tariffs) were calculated by applying the 2021 CGA quota to the amounts of the two types of tariffs; c) rental expenses were not considered in the calculation of direct costs related to IAC (shown in Annex 2 (operating expenses)); d) the administrative salary expenses have been excluded and the method of establishment is shown in Annex 1 (personal expenses); e) financial expenses were not considered (Chapter 2 Expenditure of Annex 2 (operating charges)) f) no costs related to obsolescence have been recorded; g) the costs related to intangible assets – shown in Annex 2, expenditure chapter D, were not considered as costs related to intangible assets; h) no costs related to track-side equipment have been recorded which are not directly generated by the operation of the rail transport service; i) no costs have been recorded for communication equipment located outside the railway or costs for telecommunications equipment; j) no force majeure-related costs were recorded; k) the costs of traction power supply equipment that are not directly generated by the operation of the rail transport service have been deducted (e.g. maintenance and repair costs for substations for traction power supply); l) no costs related to the provision of information have been recorded; CFR Network Statement - 2026 ANNEX 25.c Version:15.1.0 Update: 15.01.2026 Pag: 18 / 20  Compania Naţională de Căi Ferate “CFR” S.A. România m) no costs related to differentiated charging regimes have been recorded; n) depreciation that was not considered to have been determined on the basis of wear and tear caused by train movements; o) the costs for the part of the maintenance and renewal of the infrastructure which would not be directly generated by the operation of the railway service were not considered. With regard to the application of Article 4(2) of the Regulation: - a) budget transfers to finance infrastructure investments have been excluded; - b) budget transfers have also been deducted for the maintenance, repair and operation of railway infrastructure. 6.2 Cost categories that have been taken into account in the IAC calculation The regulation states that the infrastructure manager, within the framework of the direct costs calculated according to art. Article 3(1) may include 'in particular' the following costs: a) the costs related to the personnel necessary to keep open a section of the network outside the working hours – do not apply to the CFR; b) the costs of infrastructure (switches) exposed to wear and tear as a result of train movements have been considered within the costs of Annex 2; c) the part of the maintenance costs of the catenary wire and the support equipment has been included in the direct costs and deducted from the total electrification costs; d) the costs related to the personnel necessary for the preparation of the allocation of train paths and the working timetable are highlighted in Annex 1 – Personnel costs. CFR Network Statement - 2026 ANNEX 25.c Version:15.1.0 Update: 15.01.2026 Pag: 19 / 20  Compania Naţională de Căi Ferate “CFR” S.A. România 7. APPROVAL AND PUBLICATION OF THE BASIC CHARGING ELEMENTS FOR THE CALCULATION OF THE IAC As we have indicated before, the determination of direct costs is the determination of the basic charging elements used in the formula for calculating the IAC and actually determines the value of the IAC for a train running on various line categories on the CFR network. Setting these values is one of the two essential functions of CFR, in addition to the one of allocating infrastructure capacities and for which CFR in its capacity as railway infrastructure manager benefits from functional independence in accordance with the provisions of Law 202/2016. In accordance with this provision, the values of the basic elements for the calculation of the IAC applicable for the following year are subject to the approval of the CFR management, regardless of whether they undergo changes or not, presenting the necessary justifications. In the case of changes in charging elements, the method of their calculation with all the cost elements described above is also presented. Before submitting for approval to the CFR Management, CFR informs the National Railway Supervisory Board about the changes in the basic charging elements for the IAC calculation, presenting also the way of determining them in accordance with the above. The values of the basic charging elements are published by CFR in accordance with the normative provisions in force in the Network Statement (NS). These values can be modified by CFR under the conditions of the normative acts in force depending on the evolution of the specific cost elements. CFR Network Statement - 2026 ANNEX 25.c Version:15.1.0 Update: 15.01.2026 Pag: 20 / 20