REGISTERED NUMBER: 06634770 (England and Wales)

STRATEGIC REPORT, REPORT OF THE DIRECTORS AND

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 29 DECEMBER 2024

FOR

CORSAIR INTERNATIONAL HOLDING COMPANY

LIMITED

Page

Company Information

1

Strategic Report

2

Report of the Directors

3

Report of the Independent Auditors

5

Statement of Comprehensive Income

8

Balance Sheet

9

Statement of Changes in Equity

10

Notes to the Financial Statements

11

Directors:

P E Lane

A J Paul

M Potter

Secretary:

P E Lane

Registered office:

Care Of Corsair Components Limited

1020 Eskdale Road

Winnersh Triangle

Wokingham

Berkshire

RG41 5TS

Registered number:

06634770 (England and Wales)

Auditors:

TC Group

1 Merus Court

Meridian Business Park

Leicester

LE19 1RJ

The directors present their strategic report for the year ended 29 December 2024.

Review of business

By nature of the Company being a holding company, no trade was conducted during the period. The Company holds investments directly and indirectly in subsidiary entities and incurs administrative expenses to ensure the legal and regulatory requirements of the subsidiary are fulfilled.

The Company recorded profit after tax of £13,222,313 compared to a loss of £375,565 in the previous year. Gross assets remained strong at £288,201,642 compared to £288,236,214 in the previous year.

Principal risks and uncertainties

By virtue of the Company acting as a holding company, the directors do not consider there to be any principal risks and uncertainties.

Financial key performance indicators

The key performance indicators of the Company are as follows:

- Profit after tax; and

- Gross asset position.

Other key performance indicators

There were no further non-financial key performance indicators which the directors consider to be relevant to the understanding of the business.

On behalf of the board:

M Potter - Director

29 September 2025

The directors present their report with the financial statements of the company for the year ended 29 December 2024.

Principal activity

The principal activity of the company in the year under review was that of a holding company.

Dividends

During the year the directors recommended the payment of dividends amounting to £13,375,947 (2023 - £0)

Directors

The directors who served during the year were:

P E Lane

A J Paul

M Potter

Other changes in directors holding office are as follows:

T L La - appointed 23 May 2025.

P E Lane and A J Paul ceased to be directors after 31 December 2024.

Statement of directors' responsibilities

The directors are responsible for preparing the Strategic Report, the Report of the Directors 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 company and of the profit or loss of the company 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;

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

The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the 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 company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Statement as to disclosure of information to auditors

So far as the directors are aware, there is no relevant audit information (as defined by Section 418 of the Companies Act 2006) of which the company's auditors are unaware, and each director has taken all the steps that he ought to have taken as a director in order to make himself aware of any relevant audit information and to establish that the company's auditors are aware of that information.

Auditors

The auditors, TC Group, will be proposed for re-appointment at the forthcoming Annual General Meeting.

On behalf of the board:

M Potter - Director

29 September 2025

Opinion

We have audited the financial statements of Corsair International Holding Company Limited (the 'company') for the year ended 29 December 2024 which comprise the Statement of Comprehensive Income, Balance Sheet, Statement of Changes in Equity and Notes to the Financial Statements, including a summary of 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 company's affairs as at 29 December 2024 and of its profit 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 Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the 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 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 directors are responsible for the other information. The other information comprises the information in the Strategic Report and the Report of the Directors, but does not include the financial statements and our Report of the Auditors thereon.

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.

In connection with our audit of the financial statements, 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 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 the audit:

-	the information given in the Strategic Report and the Report of the Directors for the financial year for which the financial statements are prepared is consistent with the financial statements; and

-	the Strategic Report and the Report of the Directors have been prepared in accordance with applicable legal requirements.

Matters on which we are required to report by exception

In the light of the knowledge and understanding of the company and its environment obtained in the course of the audit, we have not identified material misstatements in the Strategic Report or the Report of the Directors.

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

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

-	the 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.

Responsibilities of directors

As explained more fully in the Statement of Directors' Responsibilities set out on page three, 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 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 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 company or to cease operations, or have no realistic alternative but to do so.

Auditors' responsibilities for the audit of the financial statements

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 a Report of the Auditors 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, outlines above, to detect material misstatements in respect of irregularities, including fraud.

The extent to which our procedures are capable of detection irregularities, including fraud is detailed below:

-

Enquiry of management and those charged with governance around actual, potential or suspected litigation, claims, non-compliance with applicable laws and regulations and fraud.

-

Enquiry of entity staff in tax and compliance functions and external advisors to identify any instances of non-compliance with laws and regulations.

-

Performing audit work over the risk of management override, including testing of journal entries and other adjustments for appropriateness, evaluating the business rationale of significant transactions outside the normal course of business and reviewing accounting estimates for bias.

-

Reviewing of financial statements disclosures and testing to support documentation to assess compliance with applicable laws and regulations.

-

Discussions amongst the engagement team in relation to how and where fraud might occur in the financial statements and any potential indicators of fraud.

-

Reviewing any minutes for meetings during the year.

Despite the audit being planned and conducted in accordance with ISA's (UK) there remains an unavoidable risk that material misstatements in the financial statements may not be detected owing to inherent limitations of the audit, and that by their very nature, any such instances of fraud or irregularity likely to involve collusion, forgery, intentional misinterpretations, or the override of internal controls.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the Auditors.

Use of our report

This report is made solely to the 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 company's members those matters we are required to state to them in a Report of the Auditors and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's members as a body, for our audit work, for this report, or for the opinions we have formed.

Shiran Wynter ACA (Senior Statutory Auditor)

for and on behalf of TC Group

1 Merus Court

Meridian Business Park

Leicester

LE19 1RJ

29 September 2025

Turnover

-

-

Administrative expenses

95,553

312,936

Operating loss

5

(95,553

)

(312,936

)

Income from shares in group undertakings

13,375,947

-

13,280,394

(312,936

)

Interest payable and similar expenses

7

58,081

62,629

Profit/(loss) before taxation

13,222,313

(375,565

)

Tax on profit/(loss)

8

-

-

Profit/(loss) for the financial year

13,222,313

(375,565

)

Other comprehensive income

-

-

Total comprehensive income for the year

13,222,313

(375,565

)

Fixed assets

Investments

10

288,201,642

288,201,642

Current assets

Debtors

11

-

34,572

Creditors

Amounts falling due within one year

12

(2,292,059

)

(2,172,997

)

Net current liabilities

(2,292,059

)

(2,138,425

)

Total assets less current liabilities

285,909,583

286,063,217

Capital and reserves

Called up share capital

13

284,894,143

284,894,143

Retained earnings

14

1,015,440

1,169,074

Shareholders' funds

285,909,583

286,063,217

The financial statements were approved by the Board of Directors and authorised for issue on 29 September 2025 and were signed on its behalf by:

M Potter - Director

Called up

share

Retained

Total

capital

earnings

equity

£

£

£

Balance at 30 December 2022

284,894,143

1,544,639

286,438,782

Changes in equity

Total comprehensive income

-

(375,565

)

(375,565

)

Balance at 29 December 2023

284,894,143

1,169,074

286,063,217

Changes in equity

Dividends

-

(13,375,947

)

(13,375,947

)

Total comprehensive income

-

13,222,313

13,222,313

Balance at 29 December 2024

284,894,143

1,015,440

285,909,583

1.	STATUTORY INFORMATION

Corsair International Holding Company Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

After reviewing the Company's financial position and forecasts, the directors have a reasonable expectation that the Company has adequate resources and support to continue in operational existence for the foreseeable future. The Company therefore continues to adopt the going concern basis in preparing its financial statements.

The following principal accounting policies have been applied:

Financial Reporting Standard 102 - reduced disclosure exemptions

The company has taken advantage of the following disclosure exemptions in preparing these financial statements, as permitted by FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland":

•

the requirements of Section 7 Statement of Cash Flows;

•

the requirement of paragraph 3.17(d);

•

the requirements of paragraphs 11.42, 11.44, 11.45, 11.47, 11.48(a)(iii), 11.48(a)(iv), 11.48(b) and 11.48(c);

•

the requirements of paragraphs 12.26, 12.27, 12.29(a), 12.29(b) and 12.29A.

This information is included in the consolidated financial statements of Corsair Gaming Inc. as at 31 December 2024 and these financial statements may be obtained from https://ir.corsair.com.

Preparation of consolidated financial statements

The Company is a parent Company that is also a subsidiary included in the consolidated financial statements of its immediate parent undertaking established under the law of a non-EEA state and is therefore exempt from the requirement to prepare consolidated financial statements under section 401 of the Companies Act 2006.

Investments in subsidiaries

Investments in subsidiary undertakings are recognised at cost.

Financial instruments

The company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in non-puttable ordinary shares.

Debt instruments (other than those wholly repayable or receivable within one year), including loans and other accounts receivable and payable, are initially measured at transaction price, net of transaction costs, and subsequently at amortised cost using the effective interest method. Debt instruments that are payable or receivable within one year, typically trade debtors and creditors, are measured, initially and subsequently, at the undiscounted amount of the cash or other consideration expected to be paid or received. However, if the arrangements of a short-term instrument constitute a financing transaction, like the payment of a trade debt deferred beyond normal business terms or financed at a rate of interest that is not a market rate or in the case of an out-right short-term loan not at market rate, the financial asset or liability is measured, initially, at the present value of the future cash flow discounted at a market rate of interest for a similar debt instrument and subsequently at amortised cost.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the Profit and Loss Account.

For financial assets measured at amortised cost, the impairment loss is measured as the difference between an asset's carrying amount and the present value of estimated cash flows discounted at the asset's original effective interest rate. If a financial asset has a variable interest rate, the discount rate for measuring any impairment loss is the current effective interest rate determined under the contract.

For financial assets measured at cost less impairment, the impairment loss is measured as the difference between an asset's carrying amount and best estimate of the recoverable amount, which is an approximation of the amount that the company would receive for the asset if it were to be sold at the balance sheet date.

Financial assets and liabilities are offset and the net amount reported in the Balance Sheet when there is an enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Comprehensive Income, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Debtors

Short term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at transaction price, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

Creditors

Short term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at transaction price, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.

Finance costs

Finance costs are charged to the Statement of Comprehensive Income over the term of the debt using the effective interest method so that the amount charged is at constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

3.	CRITICAL ACCOUNTING JUDGEMENTS AND KEY SOURCES OF ESTIMATION UNCERTAINTY

Estimates and judgements are continually evaluated and are based on historical experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

The Company makes estimates and assumptions concerning the future. The resulting accounting estimates will, by definition, seldom equal the related actual results. The estimates and assumptions that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year are addressed below.

(i) Impairment of investments

The Company considers whether investments are impaired. Where an indication of impairment is identified, the estimation of recoverable value requires estimation of the recoverable value of the cash generating units. This requires estimation of the future cashflows from the cash generating unit.

(ii) Impairment of financial assets

The Company makes an estimate of the recoverable value of trade and other debtors. When assessing impairment of trade and other debtors, management considers factors including the current credit rating of the debtor, the ageing profile of debtors and historical experience.

4.	EMPLOYEES AND DIRECTORS

There were no staff costs for the year ended 29 December 2024 nor for the year ended 29 December 2023.

The average number of employees during the year was as follows:

2024

2023

Directors

3

3

2024

2023

£

£

Directors' remuneration

-

-

5.	OPERATING LOSS

The operating loss is stated after charging:

2024

2023

£

£

Foreign exchange differences

94,353

314,798

6.	AUDITORS' REMUNERATION

During the period, fees payable to the Company's auditors for the audit of the Company's financial statements totalled £12,000 (2023: £10,000).

The Company has taken advantage of the exemption not to disclose amounts paid for non-audit services as these are disclosed in the consolidated accounts of the parent Company.

7.

INTEREST PAYABLE AND SIMILAR EXPENSES

2024

2023

£

£

Interest payable

58,081

62,629

8.

TAXATION

Analysis of the tax charge

No liability to UK corporation tax arose for the year ended 29 December 2024 nor for the year ended 29 December 2023.

Reconciliation of total tax charge included in profit and loss

The tax assessed for the year is lower than the standard rate of corporation tax in the UK. The difference is explained below:

2024

2023

£

£

Profit/(loss) before tax

13,222,313

(375,565

)

Profit/(loss) multiplied by the standard rate of corporation tax in the UK of 25% (2023 - 23.500%)

3,305,578

(88,258

)

Effects of:

Expenses not deductible for tax purposes

14,520

-

Income not taxable for tax purposes

(3,343,987

)

-

Group relief surrender

23,889

73,540

Deficit carried forward

-

14,718

Total tax charge

-

-

9.

DIVIDENDS

2024

2023

£

£

Ordinary shares of 1 each

Equity dividends on ordinary shares

13,375,947

-

10.	FIXED ASSET INVESTMENTS

Shares in

group

undertakings

£

Cost

At 30 December 2023

and 29 December 2024

288,201,642

Net book value

At 29 December 2024

288,201,642

At 29 December 2023

288,201,642

The company's investments at the Balance Sheet date in the share capital of companies include the following:

Corsair Holdings (Hong Kong) Limited

Registered office: Hong Kong

Nature of business: Supply of computer components

%

Class of shares:

holding

Ordinary

100.00

Corsair Design System Company Limited

Registered office: Vietnam

Nature of business: Computer programming

%

Class of shares:

holding

Ordinary

100.00

Corsair Singapore Pte. Ltd

Registered office: Singapore

Nature of business: Trading and manufacture of computer components

%

Class of shares:

holding

Ordinary

100.00

Corsair Japan GK

Registered office: Japan

Nature of business: Provision of sales and marketing services

%

Class of shares:

holding

Ordinary

100.00

Corsair Engineering d.o.o.

Registered office: Slovenia

Nature of business: Research and development facility

%

Class of shares:

holding

Ordinary

100.00

Corsair Memory Co., Ltd

Registered office: Taiwan

Nature of business: Trading and manufacture of computer components

%

Class of shares:

holding

Ordinary

100.00

Corsair Memory B.V.

Registered office: Netherlands

Nature of business: Provision of warehouse, sales and marketing serv.

%

Class of shares:

holding

Ordinary

100.00

Corsair Components Limited

Registered office: United Kingdom

Nature of business: Provision of sales and marketing services

%

Class of shares:

holding

Ordinary

100.00

Corsair GmbH

Registered office: Germany

Nature of business: Provision of sales and marketing services

%

Class of shares:

holding

Ordinary

100.00

Corsair (Shenzhen) Trading Company Ltd

Registered office: China

Nature of business: Trading of computer components

%

Class of shares:

holding

Ordinary

100.00

Elgato iDisplay Holdings Ltd

Registered office: Cayman Islands

Nature of business: Research and development facility

%

Class of shares:

holding

Ordinary

51.00

Elgato iDisplay Limited

Registered office: Hong Kong

Nature of business: Research and development facility

%

Class of shares:

holding

Ordinary

51.00

Corsair Gaming SAS

Registered office: France

Nature of business: Provision of sales and marketing services

%

Class of shares:

holding

Ordinary

100.00

Corsair Holdings (Hong Kong) Limited was a direct subsidiary undertaking of the Company. All other listed companies in this note were indirect subsidiary undertakings of the Company.

11.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Amounts owed by group undertakings

-

34,572

12.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Amounts owed to group undertakings

2,292,059

2,150,332

Tax

-

22,665

2,292,059

2,172,997

There is a fixed and floating charge over all intellectual property, property or undertaking of the Company.

13.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2024

2023

value:

£

£

284,894,143

Ordinary

1

284,894,143

284,894,143

14.

RESERVES

Retained

earnings

£

At 30 December 2023

1,169,074

Profit for the year

13,222,313

Dividends

(13,375,947

)

At 29 December 2024

1,015,440

15.	RELATED PARTY DISCLOSURES

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

16.	CONTROLLING PARTY

The immediate parent undertaking of the Group is Corsair Memory Inc. which has control by virtue of its shareholding in each of the UK subsidiaries. The ultimate parent undertaking of the Company at the end of the current accounting period is Corsair Gaming Inc., a Company registered in the United States of America.