21. (b) Trade receivables transferred or available for transfer

i. Transferred trade receivables

Subsidiaries of NORMA Group in the EMEA and Americas segments transfer trade receivables to external purchasers as part of factoring and ABS transactions. The details and effects of the respective programs are presented below.

a) Factoring transactions

Under the factoring agreement concluded in fiscal year 2017 with a maximum receivables volume of EUR 10 million, NORMA Group subsidiaries in Germany, Poland and France sell trade receivables directly to external buyers. As part of this factoring program, receivables in the amount of EUR 4.6 million were sold as of December 31, 2025 (Dec 31, 2024: EUR 4.3 million), of which EUR 0.5 million were not paid out as purchase price retentions, which are held as collateral reserves, and were recognized as other financial assets (Dec 31, 2024: 0.4). The requirements for derecognition of receivables in accordance with IFRS 9.3.2.1 are met, as the receivables are transferred in accordance with IFRS 9.3.2.4 a). An examination of IFRS 9.3.2.6 shows that virtually all risks and rewards have neither been transferred nor retained. In accordance with IFRS 9.3.2.16, the remaining continuing involvement must therefore be recognized by NORMA Group. NORMA Group continues to service the receivables sold. Although NORMA Group is not entitled to dispose of the receivables sold in any way other than through accounts receivable management, NORMA Group retains control over the receivables sold because the buyers do not have the actual ability to resell the receivables acquired. NORMA Group continues to recognize the trade receivables sold in the amount of its continuing involvement, i.e., in the amount of the maximum amount with which it remains liable for the late payment risk inherent in the receivables sold, and recognizes a corresponding other financial liability. The continuing involvement in the amount of EUR 48 thousand (Dec 31, 2024: EUR 45 thousand) was recognized as other financial liability and comprises the maximum loss for NORMA Group resulting from the late payment risk from the receivables sold as of the reporting date. The fair value of the guarantee or the interest payments to be assumed was recognized at EUR 4 thousand (Dec 31, 2024: EUR 4 thousand).

NORMA Group established another factoring program in 2018. In the factoring agreement concluded in December 2018 with a maximum receivables volume of USD 27.5 million, a subsidiary of NORMA Group in the USA sells trade receivables directly to external buyers. This factoring program is exclusively attributable to the discontinued operation. As part of this program, receivables in the amount of EUR 19.2 million were sold as of December 31, 2025 (Dec 31, 2024: EUR 17.3 million), of which EUR 3.8 million were not paid out as purchase price retentions, which are held as collateral reserves, and were recognized as other financial assets (Dec 31, 2024: Due to a temporary agreement, the payments in connection with these disposals were made in full on December 31, 2024).The requirements for derecognition of receivables in accordance with IFRS 9.3.2.1 are met, as the receivables are transferred in accordance with IFRS 9.3.2.4 a). The examination of IFRS 9.3.2.6 shows that essentially all opportunities and risks have been transferred. NORMA Group continues to manage the servicing of the receivables sold. Although NORMA Group is not entitled to dispose of the sold receivables in any other way than in the context of accounts receivable management, NORMA Group retains the power of disposal over the sold receivables, as the buyers do not have the actual ability to resell the acquired receivables.

b) ABS program

NORMA Group concluded a revolving Receivables Purchase Agreement with Weinberg Capital Ltd. (special purpose entity) in fiscal year 2014. The agreed structure provides for the sale of trade receivables of NORMA Group as part of an ABS transaction and was successfully initiated in December 2014. The receivables are sold by NORMA Group to a special purpose entity. As part of this asset-backed securities (ABS) program with a volume of up to EUR 20.0 million,domestic NORMA Group companies sold receivables in the amount of EUR 7.9 million (Dec 31, 2024: EUR 8.6 million) as of December 31, 2025 of which EUR 0.4 million (Dec 31, 2024: EUR 0.4 million) were not paid out as purchase price retentions, which are held as collateral reserves, and were recognized as other financial assets. The basis for the transaction is the assignment of trade receivables of individual NORMA Group companies as part of an undisclosed assignment to a special purpose entity. This special purpose entity is not to be consolidated in accordance with IFRS 10, as NORMA Group has neither decision-making power nor a material interest of its own and there is no connection between decision-making power and the variability of the return flows from the special purpose entity. The requirements for a derecognition of receivables in accordance with IFRS 9.3.2.1 are met, as the receivables are transferred in accordance with IFRS 9.3.2.4 a). An examination of IFRS 9.3.2.6 shows that virtually all risks and rewards have neither been transferred nor retained. In accordance with IFRS 9.3.2.16, the remaining continuing involvement must therefore be recognized by NORMA Group.

A continuing involvement in the amount of EUR 149 thousand (Dec 31, 2024: EUR 166 thousand) was recognized as other financial liabilities and includes, on the one hand, the maximum amount that NORMA Group might have to repay from the default guarantee assumed and, on the other hand, the expected interest payments until receipt of payment in relation to the carrying amount of the transferred receivables. The fair value of the guarantee or the interest payments to be assumed was also recognized in profit or loss and included as other liabilities in the amount of EUR 121 thousand (Dec 31, 2024: EUR 138 thousand).

NORMA Group concluded a further revolving Receivables Purchase Agreement with Weinberg Capital Ltd. (special purpose entity) for the sale of trade receivables in fiscal year 2018. The agreed structure provides for the sale of trade receivables of NORMA Group as part of an ABS transaction and was successfully initiated in December 2018. The receivables are sold by NORMA Group to a special purpose entity. As part of this ABS program with a volume of up to USD 20.0 million , on December 31, 2025, US NORMA Group companies sold receivables in the amount of EUR 10.5 million (Dec 31, 2024: EUR 11.7 million), of which EUR 0.5 million (Dec 31, 2024: EUR 0.6 million) were not paid out as purchase price retentions, which are held as collateral reserves, and were recognized as other financial assets. The basis for the transaction is the assignment of trade receivables of individual NORMA Group companies as part of an undisclosed assignment to a special purpose entity. This special purpose entity is not to be consolidated in accordance with IFRS 10, as NORMA Group has neither the decision-making power nor a significant self-interest and there is no connection between the decision-making power and the variability of the return flows from the special purpose entity.

The requirements for derecognition in accordance with IFRS 9.3.2.1 are met, as the receivables are transferred in accordance with IFRS 9.3.2.4 a). An examination of IFRS 9.3.2.6 shows that almost all risks and rewards have neither been transferred nor retained. In accordance with IFRS 9.3.2.16, the remaining continuing involvement must therefore be recognized by NORMA Group.

A continuing involvement in the amount of EUR 552 thousand (Dec 31, 2024: EUR 682 thousand) was recognized as other financial liabilities and includes, on the one hand, the maximum amount that NORMA Group might have to repay from the default guarantee assumed and, on the other hand, the expected interest payments until receipt of payment in relation to the carrying amount of the transferred receivables. The fair value of the guarantee or the

interest payments to be assumed was also recognized in profit or loss and included as other liabilities in the amount of EUR 182 thousand (Dec 31, 2024: EUR 194 thousand).

ii. Trade receivables transferred or available for transfer

In the Group’s view, trade receivables included in these programs but not yet disposed of after the closing date cannot be allocated to either the “hold” or “hold and sell” business model. They are therefore recognized in the “fair value through profit and loss” (FVTPL) category.

The trade receivables held for sale as part of the factoring and ABS transaction and measured at fair value through profit or loss have short-term maturities. In addition, the calculated credit risk of the counterparty is not material, meaning that the carrying amounts as of the reporting date correspond to their fair values.