These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The director of the company has elected not to include a copy of the profit and loss account within the financial statements.true

In the application of the company’s accounting policies, the director is required to make judgements, estimates and assumptions that affect the amounts reported for assets and liabilities as at the balance sheet date and the amounts reported for revenues and expenses during the year. The nature of estimation means that actual outcomes could differ from those estimates. The following judgements have had a significant effect on amounts recognised in the financial statements:

a) Foreign currency transactions are translated using the exchange rate at the dates of the transactions or valuation where items are re-measured. Foreign exchange gains and losses resulting from the settlement of such transactions and from the translation at year end rates of monetary assets and liabilities denominated in foreign currencies are recognised in the profit and loss statement.

b) Interest receivable on group loans is calculated in line with transfer pricing rules using the effective interest rate determined by the underling agreement which is based on the extraction of market data that is publicly available but open to a degree of interpretation.

Pharmathen U.K. Ltd is a private company limited by shares incorporated in England and Wales. The registered office is Stag House, Old London Road, Hertford, Hertfordshire, United Kingdom, SG13 7LA.

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 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The company is exempt from the requirement to prepare group accounts in accordance with section 401 of the Companies Act 2006. The company is included in the consolidated financial statements of Pharmathen Global B.V., whose registered office is at Van Heuven 9, Goedhartlaan, 1181 LE, Amstelveen.

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.

At the time of approval the director has a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. The company therefore continues to adopt the going concern basis in preparing their financial statements.true

Turnover represents the amounts receivable in respect of the provision of services, excluding value added tax which falls within the company's ordinary activities.

Turnover is recognised when it is probable that the economic benefit associated with the transaction will flow to the entity.

Interest income relates to amounts receivable on interest-bearing instruments from a group company, which are conducted on normal commercial terms. Interest is accrued using the effective interest rate on a daily basis and is recognised in the profit and loss account in line with the loans underlying agreement. Interest is recognised when it is probable that economic benefit will flow to the entity.

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:

Investments are included in the balance sheet at cost less provisions required for diminution in value.

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.

Cash and cash equivalents are redeemed by cash in hand, deposits held at call with financial institutions, other short-term 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.

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

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 is found, an impairment loss is recognised in profit or loss.

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.

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Basic financial liabilities, including creditors and loans from fellow group companies, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

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

Current or deferred taxations 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.

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Provisions are recognised when the company has a legal or constructive present obligation as a result of a past event, it is probable that the company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the reporting end date, taking into account the risks and uncertainties surrounding the obligation. Where the effect of the time value of money is material, the amount expected to be required to settle the obligation is recognised at present value. When a provision is measured at present value, the unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Rentals paid under operating leases are charged to profit or loss evenly over the period of the lease.

Monetary assets and liabilities in foreign currencies are translated into Sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into Sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Expenses

Expenses incurred have been recognised on an accruals basis.

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

At the year end the company had a commitment to pay £Nil (2023: £19,800) under non-cancellable operating leases.

The company is party to a Pledge of Shares agreement dated 7th February 2022 guaranteeing a bond loan on behalf of one of its intermediate parent companies, Pharmathen SA (incorporated in Greece).

The parent company is Pharmathen Developments Limited, a company incorporated in Cyprus. The ultimate parent of the Company is Partners Group Client Access 37 LP Inc.

As the income statement has been omitted from the filing copy of the financial statements, the following information in relation to the audit report on the statutory financial statements is provided in accordance with s444(5B) of the Companies Act 2006.

The auditor's report is unqualified and includes the following:

In our opinion the financial statements:

• give a true and fair view of the state of the company's affairs as at 31 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.

The company holds a 100% interest in Pharmathen Business LLC, a limited liability company incorporated in the United States. As an LLC, the entity does not issue share capital, and control is exercised through full ownership of its membership interests. The subsidiary’s registered office is located at c/o Cogency Global Inc., 850 New Burton Road, Suite 201, Dover, Delaware 19904, United States.