NOTE 11 – RELATED PARTY TRANSACTIONS

Amount due from (to) as of June 30, 2026 are summarized as follows:

Due from related parties:

Due to related parties: 

Amount due from (to) as of December 31, 2025 are summarized as follows:

Due from related parties:

Due to related parties: 

All the amounts due to and from related parties are unsecured, non-interest bearing and due on demand, except for the loan agreement from Umbrella Global Energy, S.A. of €3,800,000. This five-year loan was formalized and signed on June 30, 2023, with a market interest rate of 6.25% per year, payable bi-annually. During the six months ended June 30, 2026 and 2025, Turbo Energy repaid €324,716 and €903,734, respectively. As of June 30, 2026 and December 31, 2025, the loan amount was €851,551 and €1,176,267, respectively. During the six months ended June 30, 2026 and 2025, a total amount of €26,448 and €40,627 had been paid for interest, respectively.

Transactions with related parties during the six months ended June 30, 2026 and 2025 were summarized as follows:

Six Months Ended June 30, 2026

Six Months Ended June 30, 2025

Our related party transactions during the six months ended June 30, 2026 include sales of products or services made to or purchases of products or services from affiliated group companies that are under common control and to associates of such group companies. These transactions include income accrued from the commercial activities of our Company. The purchases relate to merchandise that we sell in its normal course of commercial operations.

During the six months ended June 30, 2026 and 2025, the Company made payment to the related parties of €59,083 and €907,213, respectively. During the six months ended June 30, 2026 and 2025, the Company received advancement from related parties of €2,142 and €370, respectively.

Umbrella Global Energy, as the holding company of the group, assumes all structural costs such as those related to human resources, licenses, legal, tax, labor, marketing and other generic structural costs. A margin of 13% is applied to these costs and the resulting amount is distributed to the four most significant companies in the group based on their estimated revenue in the monthly management fees.

During the six months ended June 30, 2026 and 2025, the Company incurred management fees to Umbrella Global Energy, S.A. of €98,462 and €350,000, respectively.

No compensation has been paid to the executives under Crocodile Investment SLU. The Company expects to continue with the same allocation structure in the future.