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REGISTERED NUMBER: 12861071 (England and Wales)

| STRATEGIC REPORT, REPORT OF THE DIRECTOR AND |

| FINANCIAL STATEMENTS |

| FOR THE YEAR ENDED 30 JUNE 2025 |

| FOR |

| EMPLOYMENT HERO (UK) LIMITED |

EMPLOYMENT HERO (UK) LIMITED (REGISTERED NUMBER: 12861071)

CONTENTS OF THE FINANCIAL STATEMENTS

for the Year Ended 30 June 2025

Page |

| Company Information | 1 |

| Strategic Report | 2 |

| Report of the Director | 4 |

| Report of the Independent Auditors | 5 |

| Income Statement | 9 |

| Other Comprehensive Income | 10 |

| Balance Sheet | 11 |

| Statement of Changes in Equity | 12 |

| Notes to the Financial Statements | 13 |

EMPLOYMENT HERO (UK) LIMITED

COMPANY INFORMATION

for the Year Ended 30 June 2025

| DIRECTOR: | B N Thompson

| REGISTERED OFFICE: | 10 John Street

| London

| WC1N 2EB

| REGISTERED NUMBER: | 12861071 (England and Wales)

| AUDITORS: | Oury Clark Chartered Accountants

| Statutory Auditors

| Herschel House

| 58 Herschel Street

| Slough

| Berkshire

| SL1 1PG

EMPLOYMENT HERO (UK) LIMITED (REGISTERED NUMBER: 12861071)

STRATEGIC REPORT

for the Year Ended 30 June 2025

The director presents his strategic report for the year ended 30 June 2025.

REVIEW OF BUSINESS

The principal activity of the company is provision of HR and payroll software to customers.

The company is continuing to hit sales targets and revenue is growing significantly year on year.

PRINCIPAL RISKS AND UNCERTAINTIES

The company has established risk management and internal control process for the identification, assessment and management of strategic, operational, financial and compliance risks likely to affect the achievement of the company's corporate and strategic objectives.

The director has overall responsibility for the company's risk management process. Day to day management of risk is performed by the director who is accountable for the risk mitigation activities. The management process is subject to ongoing review, which aims to ensure the process is effective and promotes management ownership of risk.

The director sets out the financial risk policies that are implemented by the finance department. The director considers that the financial risks do not pose a major threat to the company.

In addition to financial risks, the company actively manages Data Security and Cyber Risk. Given the sensitive nature of payroll and HR data, the company invests significantly in cybersecurity measures, data encryption, and GDPR compliance to protect customer information.

STRATEGY

The company's core strategy is to establish itself as the leading Employment Operating System for UK businesses. Following a year of significant growth, the director intends to continue this trajectory by increasing market penetration across the UK.

Key strategic priorities for the coming year include:

- Customer Acquisition: Growing the subscriber base through targeted sales and marketing initiatives designed to capture a larger share of the UK SME market.

- Product Innovation: Continual investment in the software platform to ensure it remains a comprehensive, all-in-one solution for HR and payroll needs.

- Customer Success: Enhancing support and engagement mechanisms to ensure high retention rates among the existing client base.

The director believes that focusing on these pillars will drive sustainable revenue growth and long-term value.

RESULTS AND PERFORMANCE

The results of the company for the year, as set out on page 9 show a profit before tax of £174,357 (2024: £152,164) and an increase in revenue of 48% from the previous year to £9,950,926. Net assets were £517,384 (2024: £278,762).

Annual Recurring Revenue is the financial key performance indicator of the company. The main driver of growth remains the continuing expansion of the subscriber base, through new sales and existing customer growth.

EMPLOYMENT HERO (UK) LIMITED (REGISTERED NUMBER: 12861071)

STRATEGIC REPORT

for the Year Ended 30 June 2025

COMPLIANCE WITH MODERN SLAVERY ACT

Following the enactment of the Modern Slavery Act in October 2015, the company has reviewed its procurement and human rights practices and those of its supply chain considering this act. Having reviewed the requirements of the Modern Slavery Act, the company has taken action to comply with the regulations. Employment Hero (UK) Limited, and all members of the wider group do not support forced and compulsory labour, or the exploitation of children. Further details on how the company maintains and upholds fair and safe work practices across our businesses and extended networks can be found within the group Modern Slavery Statement at https://modernslaveryregister.gov.au/statements/21332/

ON BEHALF OF THE BOARD:

B N Thompson - Director

6 February 2026

EMPLOYMENT HERO (UK) LIMITED (REGISTERED NUMBER: 12861071)

REPORT OF THE DIRECTOR

for the Year Ended 30 June 2025

The director presents his report with the financial statements of the company for the year ended 30 June 2025.

DIVIDENDS

No dividends will be distributed for the year ended 30 June 2025.

DIRECTOR

B N Thompson held office during the whole of the period from 1 July 2024 to the date of this report.

QUALIFYING THIRD PARTY INDEMNITY PROVISIONS

Director's insurance cover has been established for all directors to provide appropriate cover for their reasonable actions on behalf of the company.

STATEMENT OF DIRECTOR'S RESPONSIBILITIES

The director is responsible for preparing the Strategic Report, the Report of the Director and the financial statements in accordance with applicable law and regulations.

Company law requires the director to prepare financial statements for each financial year. Under that law the director has 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 director must not approve the financial statements unless he is 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 director is 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 director is 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 him to ensure that the financial statements comply with the Companies Act 2006. He is 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 director is 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 he 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, Oury Clark Chartered Accountants, are deemed to be re-appointed under Section 487 (2) of the Companies Act 2006.

ON BEHALF OF THE BOARD:

B N Thompson - Director

6 February 2026

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF

EMPLOYMENT HERO (UK) LIMITED

Opinion

We have audited the financial statements of Employment Hero (UK) Limited (the 'company') for the year ended 30 June 2025 which comprise the Income Statement, Other 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 30 June 2025 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 director's 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 12 months and 1 day from when the financial statements are authorised for issue.

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

Other information

The director is responsible for the other information. The other information comprises the information in the Strategic Report and the Report of the Director, but does not include the financial statements and our Report of the Independent 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 inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be misstated. If we identify such inconsistencies or apparent 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 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 Director 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 Director have been prepared in accordance with applicable legal requirements.

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF

EMPLOYMENT HERO (UK) LIMITED

Matters on which we are required to report by exception

In light of the knowledge and understanding of the company and its environment obtained in the course of the audit, we have not identified any matters in the Strategic Report and the Report of the Director that are inconsistent with our overall view of the financial statements.

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 director's remuneration specified by law are not made; or

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

Responsibilities of director

As explained more fully in the Statement of Director's Responsibilities set out on page four, the director is 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 director determines 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 director is 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 director either intends to liquidate the company or to cease operations, or has no realistic alternative but to do so.

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF

EMPLOYMENT HERO (UK) LIMITED

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, 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:

Identifying and assessing potential irregularities, including fraud

In identifying and assessing risks of material misstatement in respect of irregularities, including fraud and non-compliance with laws and regulations, our procedures included the following:

- Considering the nature of the industry, sector, control environment and current business activities, including possible performance targets and subsequent remuneration;

- Enquiring of management concerning policies and procedures relating to:

1. Complying with laws and regulations and whether there were any instances of non-compliance;

2. Mitigating, detecting and responding to fraud risk and whether there has been any actual or possible instances of fraud.

- Discussing with the engagement team regarding how and where fraud may occur in the financial statements along with the possible indicators of fraud. We identified the following areas most likely to be susceptible to fraud:

1. Revenue recognition;

2. Management override.

- Discussing with the engagement team, the legal and regulatory framework in which the company operates and in particular those which would have an impact on the financial statements. The key laws and regulations considered were the Companies Act 2006, UK tax legislation and UK employment law.

Audit response to the risks identified

We identified revenue recognition and management override as matters that would most likely be susceptible to fraud. Our procedures to respond to these risks included the following:

1. Reviewing a sample of sales contracts and invoices to ensure sales are legitimate and recognised in the correct accounting period;

2. Reviewing the nominal ledger and journals posted to ensure there was no evidence of management override.

Further, we also identified compliance with the Companies Act 2006, UK tax legislation and UK employment law as being key areas where there may be possible non-compliance. Our procedures to respond to these risks included the following:

1. Review the financial statement disclosures with completion of a disclosure checklist and testing to supporting documentation to assess compliance with the Companies Act 2006;

2. Review the corporation tax return to ensure it complies with UK tax legislation and completion of our detailed corporation tax checklist;

3. A safeguard review of the financial statements by a qualified accountant not associated with the audit team;

4. A safeguard review of the corporation tax computation by a person qualified as a CTA or equivalent not associated with the audit team;

5. We have checked a sample of compliance with right to work checks and reviewed legal fees for indications of material issues arising out of non-compliance with employment law.

The above matters and identified laws and regulations and potential fraud risks were communicated to all engagement team members in order to enable the team to have the ability to identify such risks. The whole team remained alert to any indications of fraud or non-compliance with laws and regulations throughout the audit.

There are inherent limitations in the audit procedures described above and the risk of not detecting a material misstatement due to fraud is higher than the risk of not detecting one resulting from error, as fraud may involve deliberate concealment.

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF

EMPLOYMENT HERO (UK) LIMITED

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.

Emma Crowley (Senior Statutory Auditor)

for and on behalf of Oury Clark Chartered Accountants

Statutory Auditors

Herschel House

58 Herschel Street

Slough

Berkshire

SL1 1PG

9 February 2026

EMPLOYMENT HERO (UK) LIMITED (REGISTERED NUMBER: 12861071)

INCOME STATEMENT

for the Year Ended 30 June 2025

| 30.6.25 |  | 30.6.24

| Notes | £ | £ |

TURNOVER | 3 | 9,950,926 |  | 6,745,367 |  |

Cost of sales | 329,340 |  | 103,285 |  |

GROSS PROFIT | 9,621,586 |  | 6,642,082 |  |

Administrative expenses | 11,283,798 |  | 7,536,650 |  |

(1,662,212 | ) | (894,568 | ) |

Other operating income | 1,836,386 |  | 1,046,732 |  |

OPERATING PROFIT | 5 | 174,174 |  | 152,164 |  |

Interest receivable and similar income | 183 |  | - |  |

PROFIT BEFORE TAXATION | 174,357 |  | 152,164 |  |

Tax on profit | 6 | - |  | - |  |

PROFIT FOR THE FINANCIAL YEAR | 174,357 |  | 152,164 |  |

EMPLOYMENT HERO (UK) LIMITED (REGISTERED NUMBER: 12861071)

OTHER COMPREHENSIVE INCOME

for the Year Ended 30 June 2025

| 30.6.25 |  | 30.6.24

| Notes | £ | £ |

PROFIT FOR THE YEAR | 174,357 |  | 152,164 |  |

OTHER COMPREHENSIVE INCOME | - |  | - |  |

TOTAL COMPREHENSIVE INCOME FOR THE YEAR | 174,357 |  | 152,164 |  |

EMPLOYMENT HERO (UK) LIMITED (REGISTERED NUMBER: 12861071)

BALANCE SHEET

30 June 2025

| 30.6.25 | 30.6.24 |

| Notes | £ | £ | £ | £ |

FIXED ASSETS

Tangible assets | 7 | 153,517 |  | 119,176 |  |

CURRENT ASSETS

Debtors | 8 | 12,775,267 |  | 7,374,138 |  |

Cash at bank | 479,521 |  | 490,978 |  |

13,254,788 |  | 7,865,116 |  |

CREDITORS

Amounts falling due within one year | 9 | 12,890,921 |  | 7,705,530 |  |

NET CURRENT ASSETS | 363,867 |  | 159,586 |  |

TOTAL ASSETS LESS CURRENT LIABILITIES | 517,384 |  | 278,762 |  |

CAPITAL AND RESERVES

Called up share capital | 10 | 100 |  | 100 |  |

Other reserves | 11 | 183,869 |  | 119,604 |  |

Retained earnings | 11 | 333,415 |  | 159,058 |  |

SHAREHOLDERS' FUNDS | 517,384 |  | 278,762 |  |

The financial statements were approved by the director and authorised for issue on 6 February 2026 and were signed by:

B N Thompson - Director

EMPLOYMENT HERO (UK) LIMITED (REGISTERED NUMBER: 12861071)

STATEMENT OF CHANGES IN EQUITY

for the Year Ended 30 June 2025

| Called up |

| share |  | Retained |  | Other |  | Total

| capital |  | earnings |  | reserves |  | equity

£ | £ | £ | £ |

Balance at 1 July 2023 | 100 |  | 6,894 |  | 46,598 |  | 53,592 |  |

Changes in equity

Total comprehensive income | - |  | 152,164 |  | 73,006 |  | 225,170 |  |

Balance at 30 June 2024 | 100 |  | 159,058 |  | 119,604 |  | 278,762 |  |

Changes in equity

Total comprehensive income | - |  | 174,357 |  | 64,265 |  | 238,622 |  |

Balance at 30 June 2025 | 100 |  | 333,415 |  | 183,869 |  | 517,384 |  |

EMPLOYMENT HERO (UK) LIMITED (REGISTERED NUMBER: 12861071)

NOTES TO THE FINANCIAL STATEMENTS

for the Year Ended 30 June 2025

1. | STATUTORY INFORMATION

| Employment Hero (UK) 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 financial statements are presented in pounds sterling, which is the currency of the primary economic environment in which the company operates (its functional currency). All values are rounded to the nearest £1 except where otherwise indicated.

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.

| The financial statements have been prepared on the going concern basis in light of the fact the ultimate parent company, Employment Hero Holdings Pty Ltd (incorporated in Australia) has confirmed that it will continue to support the company, as required, for a period of at least 12 months and 1 day from the date of the audit report.

| 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 33.7.

| Related party exemption

| 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.

| Critical accounting judgements and key sources of estimation uncertainty

| The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

| Key sources of estimation uncertainty

| Accounting estimates and assumptions are made concerning the future and, by their nature, will rarely equal the related actual outcome. There are no key assumptions and other sources of estimation uncertainty that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year as they are based on invoices and known outcomes

EMPLOYMENT HERO (UK) LIMITED (REGISTERED NUMBER: 12861071)

NOTES TO THE FINANCIAL STATEMENTS - continued

for the Year Ended 30 June 2025

2. | ACCOUNTING POLICIES - continued

| Turnover

| Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

| Subscription fees from the sale of Software as a Service ('SaaS') revenue is recognised over the length of the contract as the company provides a continuous service of making the online portal available during the subscription period, and customers simultaneously receive and consume the benefits provided to them by the company.

| Other non-subscription revenue, consisting of implementation fees, outsourced employment fees and other add-on services income, is recognised at the point in time when the customer obtains control of the service.

| Intercompany group turnover is recognised when allocated to the company in line with the group transfer pricing agreement. This is recognised when the relevant costs are incurred. This is included within other income in the profit and loss account.

| Tangible fixed assets

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

| Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

| Computer Equipment 2 or 4 years

| Furniture and fittings 4 years

| Financial instruments

| Basic financial instruments as covered by Section 11 of FRS102 are measured at amortised cost. The company does not have any other financial instruments as covered by Section 12 of FRS102.

| Taxation

| Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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.

| Deferred tax

| 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.

EMPLOYMENT HERO (UK) LIMITED (REGISTERED NUMBER: 12861071)

NOTES TO THE FINANCIAL STATEMENTS - continued

for the Year Ended 30 June 2025

2. | ACCOUNTING POLICIES - continued

| Foreign currencies

| 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.

| Pension costs and other post-retirement benefits

| 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.

| Share-based payments

| Equity-settled transactions are awards of shares, or options over shares, that are provided to employees in exchange for the rendering of services.

| The cost of equity-settled transactions is measured at fair value on grant date. Fair value is independently determined using the Black-Scholes option pricing model that takes into account the exercise price, the term of the option, the impact of dilution, the share price at grant date and expected price volatility of the underlying share, the expected dividend yield and the risk free interest rate for the term of the option, together with non-vesting conditions that do not determine whether the Group receives the services that entitle the employees to receive payment. No account is taken of any other vesting conditions.

| The cost of equity-settled transactions is recognised as an expense with a corresponding increase in equity over the vesting period. The cumulative charge to profit or loss is calculated based on the grant date fair value of the award, the best estimate of the number of awards that are likely to vest and the expired portion of the vesting period. The amount recognised in profit or loss for the period is the cumulative amount calculated at each reporting date less amounts already recognised in previous periods.

3. | TURNOVER

| The turnover and profit before taxation are attributable to the one principal activity of the company.

| An analysis of turnover by class of business is given below:

| 30.6.25 |  | 30.6.24

£ | £ |

| Subscription fees | 9,560,196 |  | 6,556,468 |  |

| Non-subscription fees | 390,730 |  | 188,899 |  |

9,950,926 |  | 6,745,367 |  |

| All of revenue is derived from the United Kingdom. Intercompany income is included within other income and is charged to a parent company incorporated in Australia.

4. | EMPLOYEES AND DIRECTORS

| 30.6.25 |  | 30.6.24

£ | £ |

| Wages and salaries | 7,105,281 |  | 4,840,617 |  |

| Social security costs | 939,517 |  | 572,857 |  |

| Other pension costs | 180,198 |  | 118,502 |  |

8,224,996 |  | 5,531,976 |  |

EMPLOYMENT HERO (UK) LIMITED (REGISTERED NUMBER: 12861071)

NOTES TO THE FINANCIAL STATEMENTS - continued

for the Year Ended 30 June 2025

4. | EMPLOYEES AND DIRECTORS - continued

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

| 30.6.25 |  | 30.6.24

| Sales & Marketing | 60 |  | 46 |  |

| Customer Support/Operations | 27 |  | 19 |  |

| Engineering & Tech | 13 |  | 7 |  |

| General & Administrative | 12 |  | 10 |  |

112 |  | 82 |  |

| 30.6.25 |  | 30.6.24

£ | £ |

| Director's remuneration | - |  | - |  |

| There is no remuneration paid to the director for the year (2024: £nil).

5. | OPERATING PROFIT

| The operating profit is stated after charging/(crediting):

| 30.6.25 |  | 30.6.24

£ | £ |

| Depreciation - owned assets | 110,602 |  | 78,858 |  |

| Loss on disposal of fixed assets | 2,461 |  | - |  |

| Auditors' remuneration | 33,000 |  | 43,450 |  |

| Foreign exchange differences | (6,964 | ) | 1,352 |  |

6. | TAXATION

| Analysis of the tax charge

| No liability to UK corporation tax arose for the year ended 30 June 2025 nor for the year ended 30 June 2024.

EMPLOYMENT HERO (UK) LIMITED (REGISTERED NUMBER: 12861071)

NOTES TO THE FINANCIAL STATEMENTS - continued

for the Year Ended 30 June 2025

7. | TANGIBLE FIXED ASSETS

| Fixtures |

| and |  | Computer |

| fittings |  | equipment |  | Totals

£ | £ | £ |

| COST

| At 1 July 2024 | 4,508 |  | 244,851 |  | 249,359 |  |

| Additions | 917 |  | 146,488 |  | 147,405 |  |

| Disposals | (885 | ) | (19,145 | ) | (20,030 | ) |

| At 30 June 2025 | 4,540 |  | 372,194 |  | 376,734 |  |

| DEPRECIATION

| At 1 July 2024 | 2,153 |  | 128,030 |  | 130,183 |  |

| Charge for year | 1,085 |  | 109,517 |  | 110,602 |  |

| Eliminated on disposal | (885 | ) | (16,683 | ) | (17,568 | ) |

| At 30 June 2025 | 2,353 |  | 220,864 |  | 223,217 |  |

| NET BOOK VALUE

| At 30 June 2025 | 2,187 |  | 151,330 |  | 153,517 |  |

| At 30 June 2024 | 2,355 |  | 116,821 |  | 119,176 |  |

8. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |

| 30.6.25 |  | 30.6.24

£ | £ |

| Trade debtors | 968,063 |  | 477,300 |  |

| Amounts owed by group undertakings | 10,549,326 |  | 6,337,225 |  |

| Other debtors | 457,958 |  | 166,058 |  |

| Prepayments | 799,920 |  | 393,555 |  |

12,775,267 |  | 7,374,138 |  |

9. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |

| 30.6.25 |  | 30.6.24

£ | £ |

| Trade creditors | 205,123 |  | 305,643 |  |

| Amounts owed to group undertakings | 11,162,749 |  | 6,276,573 |  |

| Social security and other taxes | 286,093 |  | 190,925 |  |

| VAT | 155,228 |  | 98,355 |  |

| Other creditors | 368,797 |  | 344,088 |  |

| Deferred income | 502,901 |  | 396,390 |  |

| Accrued expenses | 210,030 |  | 93,556 |  |

12,890,921 |  | 7,705,530 |  |

EMPLOYMENT HERO (UK) LIMITED (REGISTERED NUMBER: 12861071)

NOTES TO THE FINANCIAL STATEMENTS - continued

for the Year Ended 30 June 2025

10. | CALLED UP SHARE CAPITAL

| Allotted, issued and fully paid:

| Number: | Class: | Nominal | 30.6.25 |  | 30.6.24

| value: | £ | £ |

| 100 | Ordinary | £1 | 100 |  | 100 |  |

11. | RESERVES

| Retained |  | Other |

| earnings |  | reserves |  | Totals

£ | £ | £ |

| At 1 July 2024 | 159,058 |  | 119,604 |  | 278,662 |  |

| Profit for the year | 174,357 |  | 174,357 |  |

| Share-based payment charge | - |  | 64,265 |  | 64,265 |  |

| At 30 June 2025 | 333,415 |  | 183,869 |  | 517,284 |  |

| The other reserves represent the company's capital contribution reserve.

12. | RELATED PARTY DISCLOSURES

| There are no related party transactions other than with the parent company and other companies within the group in the ordinary course of business. All transactions are at an arms-length basis.

13. | SHARE-BASED PAYMENT TRANSACTIONS

| The Company has issued equity settled share incentives with its employees. The equity offered is that of Employment Hero Holdings Pty Ltd (incorporated in Australia). These incentives all vest over a period of 4 years and expire after 10 years from the vesting commencement date.The incentives are presented in the form of an option.

| The fair value of the share option is determined using the Black-Scholes option pricing model that takes into account various factors as discussed in note 2.

| The following table summarises the equity settled share options with employees in the period:

| Item |  | Number |  | Weighted average exercise price (AUD$ | ) |

| Outstanding at the beginning of the period |  | 58,500 |  | 14.48 |  |

| Granted during the year |  | 20,000 |  | 11.93 |  |

| Forfeited/cancelled during the period |  | (11,022 | ) | 14.63 |  |

| Exercised during the period |  | - |  | - |  |

| Expired during the period |  | - |  | - |  |

| Outstanding at the end of the period |  | 67,478 |  | 13.83 |  |

| Exercisable at the end of the period |  | 30,693 |  | 14.26 |  |

| The charge recognised in the year was £64,265 (2024: £94,959).

EMPLOYMENT HERO (UK) LIMITED (REGISTERED NUMBER: 12861071)

NOTES TO THE FINANCIAL STATEMENTS - continued

for the Year Ended 30 June 2025

14. | ULTIMATE PARENT COMPANY

| The immediate parent company is Employment Hero Pty Ltd.

| The ultimate parent company is Employment Hero Holdings Pty Ltd, for which consolidated financial statements are prepared.

| The registered address of Employment Hero Pty Ltd and Employment Hero Holdings Pty Ltd is Level 2, 435A-437 Kent Street, Sydney NSW 2000, Australia. Consolidated accounts are publicly available at ASIC Connect website.

15. | ULTIMATE CONTROLLING PARTY

| There is no ultimate controlling party.

16. | SECURED DEBT

| In 2022, the company created a fixed and floating charge over its assets and a negative pledge all in favour of Sixth Street Specialty Lending, Inc. This charge is still outstanding.