The directors present the strategic report for the year ended 31 December 2024.

In 2024, SIG focused on strengthening our UCITS platform and infrastructure capabilities, underpinned by a continued emphasis on distribution. These pillars remain central to our long-term strategy, and we invest in their development year after year.

The past year was very difficult and has been one of the most challenging for us since the 2008 crisis, and although we secured two new key strategic partnerships: a leading Japanese asset manager with $13 billion in assets under management and a second-generation U.S. concentrated equities manager, which offer a compelling mix of fixed and variable fees. SIG had considerable outflows from one of its largest Funds that it had built over the past 5 years, but due to the manager underperforming and the adverse market events in the M&A space in the USA under the Biden administration investors subsequently disinvested. For fear of continued market chaos in light of the changes presented by the Trump administration.

As such due to this SIG’s management in addition to forging strategic partnerships to offer different tailored solutions to clients to weather different market conditions it is in the process of restructuring some of its internal models with service providers to deliver tailored solutions for our clients

The recent launch of the SPARX Japan Equity Long Short Fund, alongside the upcoming mid-year debut of the M.D. Sass Concentrated Equity Fund, reflects our ongoing commitment to expanding our UCITS product suite and accelerating distribution growth across multiple strategies.

Looking ahead, we believe SIG is well-positioned for scalable, modest growth through the strategic alignment of platform strength, client engagement, and product innovation.

SIG continues to navigate a complex and evolving global environment. Investor confidence remains a key risk factor, shaped by macroeconomic and geopolitical developments including government elections in major markets, the ongoing war in Ukraine, persistent inflationary pressures, and the rapid advancement of artificial intelligence (AI). These factors have contributed to heightened market volatility and uncertainty across asset classes.

Despite these external challenges, client engagement has been very positive with many in person meetings, manager roadshows and conferences resuming across key regions. We view this as a positive shift, reinforcing relationship strength and improving communication around our offerings. We are listening to our clients about what product offerings they are looking at and assisting them with their asset allocation thought process which will yield rewards in terms of asset development and gathering over the next 12 months.

Technology, particularly AI, presents both opportunities and risks. SIG is actively monitoring developments in this area and exploring the use of AI and automation to enhance operational efficiency and reduce manual processes.

SIG's core philosophy is prioritising long-term client relationships and maintaining a stable, experienced team. This has remained unchanged for over two decades. These values are deeply embedded in our culture and continue to underpin the firm’s sustained performance through various market cycles.

This consistent approach has enabled SIG to foster enduring partnerships with clients, supporting the continuity and resilience of the business amid changing economic conditions. As in previous years, the team remains intentionally lean and highly efficient. 2024 presented both challenges and opportunities, as the firm began transitioning away from certain legacy products to pursue new areas of growth. Despite these adjustments, SIG successfully managed its cost base, maintaining financial discipline throughout the year.

Looking ahead, SIG does not anticipate adding additional people to the sales, distribution, or operations teams in 2025. However, the firm remains open to exceptional talent that can contribute meaningful value to the business and is always looking at cost savings.

The directors use a disciplined and proven approach to monitoring the firm’s financial performance, leveraging monthly expense reviews, budget tracking, and asset growth analysis to ensure alignment with annual financial targets. The quarterly management accounts form part of the reporting that is used to analyse the performance of the group.

The company is classified as a large company as it is authorised and regulated by the Financial Conduct Authority (FCA) as a cad-exempt MiFid firm. It does not otherwise meet the size requirements to qualify as a large company under the Companies Act 2006.

The directors consider that the key stakeholders for the company are its employees, clients and shareholders.

Due to the small number of employees of the company the directors have engaged with each of them as necessary during the period under review.

The company has continued to trade in the year in line with previous years taking into account the needs and parameters of its clients when providing financial service and investment management services. It operates under the strict rules set out by the FCA which includes treating customers fairly and taking into account their specific circumstances as part of their overall service.

The company provides and maintains regular communications with its shareholders and considers their position when making decisions for the future plans for the business.

On behalf of the board

The directors present their annual report and financial statements for the year ended 31 December 2024.

The principal activity of the group was marketing and client service provision to institutional investors.

The results for the year are set out on page 9.

No ordinary dividends were paid. The directors do not recommend payment of a final dividend.

The directors who held office during the year and up to the date of signature of the financial statements were as follows:

There are no post balance sheet events that could materially affect these accounts or the result for the year.

As the company has not consumed more than 40,000 kWh of energy in this reporting period, it qualifies as a low energy user under these regulations and is not required to report on its emissions, energy consumption or energy efficiency activities.

So far as each person who was a director at the date of approving this report is aware, there is no relevant audit information of which the auditor of the company is unaware. Additionally, the directors individually have taken all the necessary steps that they ought to have taken as directors in order to make themselves aware of all relevant audit information and to establish that the auditor of the company is aware of that information.

The directors are responsible for preparing the Annual Report and the financial statements in accordance with applicable law and regulations.

Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the group and company, and of the profit or loss of the group for that period. In preparing these financial statements, the directors are required to:

• select suitable accounting policies and then apply them consistently;

• make judgements and accounting estimates that are reasonable and prudent;

• state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements;

• prepare the financial statements on the going concern basis unless it is inappropriate to presume that the group and company will continue in business.

The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the group’s and company’s transactions and disclose with reasonable accuracy at any time the financial position of the group and company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the group and company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

We have audited the financial statements of Strategic Investments Group Limited (the 'parent company') and its subsidiaries (the 'group') for the year ended 31 December 2024 which comprise the group statement of comprehensive income, the group balance sheet, the company balance sheet, the group statement of changes in equity, the company statement of changes in equity, the group statement of cash flows, the company statement of cash flows and notes to the financial statements, including significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:

• give a true and fair view of the state of the group's and the parent company's affairs as at 31 December 2024 and of the group's loss for the year then ended;

• have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and

• have been prepared in accordance with the requirements of the Companies Act 2006.

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor's responsibilities for the audit of the financial statements section of our report. We are independent of the group and parent company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the group's and parent company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.

Other information

The other information comprises the information included in the annual report other than the financial statements and our auditor's report thereon. The directors are responsible for the other information contained within the annual report. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit, or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.

We have nothing to report in this regard.

Opinions on other matters prescribed by the Companies Act 2006

In our opinion, based on the work undertaken in the course of our audit:

• The information given in the strategic report and the directors' report for the financial year for which the financial statements are prepared is consistent with the financial statements; and

• The strategic report and the directors' report have been prepared in accordance with applicable legal requirements.

In the light of the knowledge and understanding of the group and the parent company and their environment obtained in the course of the audit, we have not identified material misstatements in the strategic report or the directors' report.

We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you if, in our opinion:

• adequate accounting records have not been kept by the parent company, or returns adequate for our audit have not been received from branches not visited by us; or

• the parent company financial statements are not in agreement with the accounting records and returns; or

• certain disclosures of directors' remuneration specified by law are not made; or

• we have not received all the information and explanations we require for our audit.

As explained more fully in the directors' responsibilities statement, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error. In preparing the financial statements, the directors are responsible for assessing the parent company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the parent company or to cease operations, or have no realistic alternative but to do so.

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor's report that includes our opinion. Reasonable assurance is a high level of assurance but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud, is detailed below.

The audit tests, including planning procedures, adopted for the audit of these financial statements are designed to assess and detect the risk of irregularities, including fraud. Our risk assessment of the likelihood of irregularities included the high degree of involvement of the experienced directors, which reduces the risk of irregularities. The audit team was competent to assess the risk and identify any potential irregularities. A thorough understanding of the processes, frameworks and authorisations in place was obtained from the directors and tested throughout the audit.

We obtained an understanding of the legal and regulatory framework that the company operates in, and

identified the key laws and regulations that:

• Had a direct effect on the determination of material of amounts and disclosures in the financial statements. These included the UK Companies Act, pensions legislation, tax legislation; and

• Do not have a direct effect on the financial statements but compliance with which may be fundamental to the company's ability to operate or to avoid a material penalty. These included the Financial Conduct Authority regulations.

We discussed among the audit engagement team regarding the opportunities and incentives that may exist within the company for fraud and how and where fraud might occur in the financial statements.

As a result of performing the above, we identified the greatest potential for fraud or non-compliance with laws and regulations in the following areas, and our specific procedures performed to address them are described below:

• The parent company earns fees based on the assets under management. Fee income calculations were reviewed on a sample basis to ensure that income was not overstated by the group.

In common with all audits under ISAs (UK), we are also required to perform specific procedures to respond to the risk of management override. In addressing the risk of fraud through management override of controls, we tested the appropriateness of journal entries and other adjustments; assessed whether the judgements made in making accounting estimates are indicative of a potential bias; and evaluated the business rationale of any significant transactions that are unusual or outside the normal course of business.

In addition to the above, our procedures to respond to the risks identified included the following:

• reviewing financial statement disclosures by testing to supporting documentation to assess compliance with provisions of relevant laws and regulations described as having a direct effect on the financial statements;

• performing analytical procedures to identify any unusual or unexpected relationships that may indicate risks of material misstatement due to fraud; and

• enquiring of management and concerning actual and potential litigation and claims, and instances of noncompliance with laws and regulations

As the parent company is FCA regulated the additional legislation and rules relating to this organisation was also considered.

Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance. The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council’s website at: http://www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor’s report.

Use of our report

This report is made solely to the parent company’s members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the parent company’s members those matters we are required to state to them in an auditor's report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the parent company and the parent company’s members as a body, for our audit work, for this report, or for the opinions we have formed.

The profit and loss account has been prepared on the basis that all operations are continuing operations.

As permitted by section 408 of the Companies Act 2006, the company has not presented its own profit and loss account and related notes. The company’s loss for the year was £243,749 (2023 - £31,559 loss).

Strategic Investments Group Limited (“the company”) is a private limited company domiciled and incorporated in England and Wales. The registered office is c/o Streets Whittle & Partners LLP, The Old Exchange, 64 West Stockwell Street, Colchester, Essex, CO1 1HE. The principal place of business is 146 Buckingham Palace Road, London, SW1W 9TR.

The group consists of Strategic Investments Group Limited and all of its subsidiaries.

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of certain financial instruments at fair value. The principal accounting policies adopted are set out below.

The consolidated financial statements incorporate those of Strategic Investments Group Limited and all of its subsidiaries (ie entities that the group controls through its power to govern the financial and operating policies so as to obtain economic benefits).

All financial statements are made up to 31 December 2024. Where necessary, adjustments are made to the financial statements of subsidiaries to bring the accounting policies used into line with those used by other members of the group.

All intra-group transactions, balances and unrealised gains on transactions between group companies are eliminated on consolidation. Unrealised losses are also eliminated unless the transaction provides evidence of an impairment of the asset transferred.

At the time of approving the financial statements, the directors have a reasonable expectation that the group has adequate resources to continue in operational existence for the foreseeable future. Thus the directors continue to adopt the going concern basis of accounting in preparing the financial statements.

Turnover represents amounts receivable for services provided to institutional investors and other service agreements with institutional providers.

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is recognised in the profit and loss account.

Equity investments that are not publicly traded and whose fair value cannot otherwise be measured reliably are recognised at cost less impairment until a reliable measure of fair value becomes available.

In the parent company financial statements, investments in subsidiaries are initially measured at cost and subsequently measured at cost less any accumulated impairment losses.

A subsidiary is an entity controlled by the group. Control is the power to govern the financial and operating policies of the entity so as to obtain benefits from its activities.

At each reporting period end date, the group reviews the carrying amounts of its tangible and intangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any).

Basic financial instruments are initially recognised at transaction value and subsequently measured at amortised cost.

Financial assets comprise cash at bank and in hand, together with trade and other debtors. A specific provision is made for debts for which recoverability is in doubt. Cash at bank and in hand is defined as all cash held in instant access bank accounts and used as working capital.

Financial liabilities held at amortised cost comprise all creditors except social security and other taxes, deferred income and provisions. Assets and liabilities held in foreign currencies are translated to GBP at the balance sheet date at an appropriate year end exchange rate.

Equity instruments issued by the group are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the group.

The tax expense represents the sum of the tax currently payable and deferred tax.

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The group’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

The company has issued share options to certain employees of its subsidiary company, SIG (Deutschland) GmbH.

Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the leased asset are consumed.

Transactions in currencies other than pounds sterling are recorded at the rates of exchange prevailing at the dates of the transactions. At each reporting end date, monetary assets and liabilities that are denominated in foreign currencies are retranslated at the rates prevailing on the reporting end date. Gains and losses arising on translation in the period are included in profit or loss.

In the application of the group’s accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

The following judgements have had the most significant effect on amounts recognised in the financial statements.

The accrued income is calculated by reference to the value of the fund at each quarter end and is based on the contractual terms.

Balances are considered factual but movements in foreign exchange rates can impact the figures throughout the year.

Rebate expenditure is based on the value of the fund at the quarter end from which the introducer fees are calculated.

Balances are considered factual but movements in foreign exchange rates can impact the figures throughout the year.

An analysis of the group's turnover is as follows:

The average monthly number of persons (including directors) employed by the group and company during the year was:

Their aggregate remuneration comprised:

The number of directors for whom retirement benefits are accruing under defined contribution schemes amounted to 1 (2023 - 0).

The actual charge for the year can be reconciled to the expected (credit)/charge for the year based on the profit or loss and the standard rate of tax as follows:

The impairment losses in respect of financial assets are recognised in other gains and losses in the profit and loss account.

Reversals of previous impairment losses have been recognised in profit or loss as follows:

A defined contribution pension scheme is operated for all qualifying employees. The assets of the scheme are held separately from those of the group in an independently administered fund.

An employee of the subsidiary company, SIG (Deutschland) GmbH has been granted share options over 3 ordinary shares in Strategic Investments Group Limited at £9,000 per share under an EMI Share Option Agreement dated 30 September 2021. The option is only exercisable whilst an employee and lapses 10 years after the date of the grant.

The other reserve represents the movement on the exchange differences on consolidation of the subsidiary SIG (Deutschland) GmbH.

Details of the company's subsidiaries at 31 December 2024 are as follows:

Registered office addresses (all UK unless otherwise indicated):

The investment in the subsidiary is stated at cost.

At the reporting end date the group had outstanding commitments for future minimum lease payments under non-cancellable operating leases, which fall due as follows:

There is a distribution agreement between the company and Strategic Investment Funds UCITS Plc, an entity

registered in Ireland and in which Mr A Ballos and Ms S Gawaly are directors of. During the year income of

£915,088 was received (2023: £1,413,737) and at the year end £167,560 was receivable (2023: £332,278).

There is a distribution agreement between the company and Strategic Active Trading Funds Plc, a company

registered in Ireland and in which Mr A Ballos and Ms S Gawaly are directors of. During the year income of

£39,889 was received (2023: £Nil) and at the year end £39,889 was receivable (2023: £Nil).

There is a consultancy agreement between the company and Platform Consulting P.C., a company registered

in Greece which is fully controlled by Mr A Ballos. During the year, consultancy fees of £31,221 were charged

(2023: £Nil) and at the year end there were no amounts still payable (2023: £Nil).

Interest free loans have been granted by the group to its directors as follows:

The amounts advanced to the directors were repaid on 31 January 2025.

The company is controlled by Mr Athanasios Ballos who owns 89% of the issued ordinary share capital of the company.