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REGISTERED NUMBER: 13055559 (England and Wales)

| FINANCIAL STATEMENTS |

| FOR THE YEAR ENDED 31 DECEMBER 2024 |

| FOR |

| ME&U UK TRADING LTD |

ME&U UK TRADING LTD (REGISTERED NUMBER: 13055559)

CONTENTS OF THE FINANCIAL STATEMENTS

for the Year Ended 31 December 2024

Page |

| Company Information | 1 |

| Balance Sheet | 2 |

| Notes to the Financial Statements | 3 |

ME&U UK TRADING LTD

COMPANY INFORMATION

for the Year Ended 31 December 2024

| DIRECTORS: | A P Brown

| D E Smith

| L Y K Teo

| REGISTERED OFFICE: | c/o Irwin Mitchell LLP

| Riverside East

| 2 Millsands

| Sheffield

| South Yorkshire

| S3 8DT

| REGISTERED NUMBER: | 13055559 (England and Wales)

| AUDITORS: | Oury Clark Chartered Accountants

| Statutory Auditors

| Herschel House

| 58 Herschel Street

| Slough

| Berkshire

| SL1 1PG

ME&U UK TRADING LTD (REGISTERED NUMBER: 13055559)

BALANCE SHEET

31 December 2024

| 31.12.24 |  | 31.12.23

| as restated |

| Notes | £ | £ |

CURRENT ASSETS

Debtors | 4 | 903,526 |  | 1,048,121 |  |

Cash at bank | 63,742 |  | 172,245 |  |

967,268 |  | 1,220,366 |  |

CREDITORS

Amounts falling due within one year | 5 | 8,005,334 |  | 7,612,273 |  |

NET CURRENT LIABILITIES | (7,038,066 | ) | (6,391,907 | ) |

TOTAL ASSETS LESS CURRENT LIABILITIES | (7,038,066 | ) | (6,391,907 | ) |

CAPITAL AND RESERVES

Called up share capital | 1 |  | 1 |  |

Other reserves | 7 | 337,385 |  | 248,532 |  |

Retained earnings | 7 | (7,375,452 | ) | (6,640,440 | ) |

(7,038,066 | ) | (6,391,907 | ) |

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

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 17 March 2026 and were signed on its behalf by:

L Y K Teo - Director

ME&U UK TRADING LTD (REGISTERED NUMBER: 13055559)

NOTES TO THE FINANCIAL STATEMENTS

for the Year Ended 31 December 2024

1. | STATUTORY INFORMATION

| ME&U UK Trading Ltd 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.

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" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

| The financial statements have been prepared on a going concern basis as Mr Yum Holdings Pty Ltd, the Parent Company, will continue to support the Company as required for a minimum of 12 months and 1 day from the date of the signing of the Audit Report.

| 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.

| Turnover

| Turnover represents revenue from contracts with customers and transaction fees. All turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Contract revenue is recognised at the point in time that performance obligations have been met and transaction fees are recognised at the point in time that the service is delivered.

| 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 the cost less estimated residual value of each asset over its estimated useful life.

| Land and Buildings - over remaining term of lease

| Plant and machinery etc - 33% on cost and 12.5% on cost

| 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.

ME&U UK TRADING LTD (REGISTERED NUMBER: 13055559)

NOTES TO THE FINANCIAL STATEMENTS - continued

for the Year Ended 31 December 2024

2. | ACCOUNTING POLICIES - continued

| 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.

| 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.

| Hire purchase and leasing commitments

| Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

| 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 options, 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 Company 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 an intercompany liability 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. | EMPLOYEES AND DIRECTORS

| The average number of employees during the year was 19 (2023 - 19 ) .

ME&U UK TRADING LTD (REGISTERED NUMBER: 13055559)

NOTES TO THE FINANCIAL STATEMENTS - continued

for the Year Ended 31 December 2024

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

| 31.12.24 |  | 31.12.23

| as restated |

£ | £ |

| Trade debtors | 11,236 |  | 2,457 |  |

| Amounts owed by group undertakings | 68,418 |  | 9,322 |  |

| Other debtors | 823,872 |  | 1,036,342 |  |

903,526 |  | 1,048,121 |  |

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

| 31.12.24 |  | 31.12.23

| as restated |

£ | £ |

| Trade creditors | 15,065 |  | 21,840 |  |

| Amounts owed to group undertakings | 6,784,161 |  | 6,455,635 |  |

| Taxation and social security | 34,405 |  | - |  |

| Other creditors & accruals | 1,171,703 |  | 1,134,798 |  |

8,005,334 |  | 7,612,273 |  |

6. | LEASING AGREEMENTS

| Minimum lease payments under non-cancellable operating leases fall due as follows:

| 31.12.24 |  | 31.12.23

| as restated |

£ | £ |

| Within one year | 28,000 |  | 67,200 |  |

| Between one and five years | - |  | 28,000 |  |

28,000 |  | 95,200 |  |

7. | RESERVES

| Retained |  | Other |

| earnings |  | reserves |  | Totals

£ | £ | £ |

| At 1 January 2024 | (6,356,713 | ) | 248,532 |  | (6,108,181 | ) |

| Prior year adjustment | (283,727 | ) | (283,727 | ) |

(6,640,440 | ) | (6,391,908 | ) |

| Deficit for the year | (818,337 | ) | (818,337 | ) |

| Share option charge | - |  | 172,178 |  | 172,178 |  |

| Forfeited share options | 83,325 |  | (83,325 | ) | - |  |

| At 31 December 2024 | (7,375,452 | ) | 337,385 |  | (7,038,067 | ) |

| Other reserves relate entirely to share based payment transactions.

ME&U UK TRADING LTD (REGISTERED NUMBER: 13055559)

NOTES TO THE FINANCIAL STATEMENTS - continued

for the Year Ended 31 December 2024

8. | DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

| The Report of the Auditors was qualified on the following basis:

| Qualified opinion

| We have audited the financial statements of ME&U UK Trading Ltd (the 'company') for the year ended 31 December 2024 which comprise the Income Statement, Balance Sheet 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, except for the possible effects of the matters described in the basis for qualified opinion section of our report, 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 period 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 qualified 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 obtained sufficient and appropriate audit evidence to conclude that the balance sheet as at 31 December 2024 is free from material misstatement. However, although management undertook a detailed review of the financial information available, it was not possible to determine the correct timing of an adjustment amounting to £69,364 made in respect of venue liability payouts in other creditors. This adjustment has been recognised in the profit and loss account in other income for the year ended 31 December 2024, although the specific periods to which this adjustment relates to could not be reliably identified.

| As a result, we were unable to obtain sufficient appropriate evidence to conclude that the profit and loss account for the year ended 31 December 2024 is free from material misstatement and that other creditors and retained earnings as at 31 December 2023 are free from material misstatement.

| We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our qualified opinion.

| Matters on which we are required to report by exception

| Except for the matter described in the basis for qualified opinion section of our report, 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 Report of the Directors that are inconsistent with our overall view of the financial statements.

| Arising solely from the limitation on the scope of our work relating to liability payout timings, referred to above:

| - we have not obtained all the information and explanations that we considered necessary for the purpose of our audit; and

| - we were unable to determine whether adequate accounting records have been kept.

| 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:

| - 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

ME&U UK TRADING LTD (REGISTERED NUMBER: 13055559)

NOTES TO THE FINANCIAL STATEMENTS - continued

for the Year Ended 31 December 2024

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

| - the directors were not entitled to prepare the financial statements in accordance with the small companies regime and take advantage of the small companies' exemption from the requirement to prepare a Strategic Report or in preparing the Report of the Directors.

| Emma Florentin-Lee (Senior Statutory Auditor)

| for and on behalf of Oury Clark Chartered Accountants

| As stated above, the audit opinion was qualified. In addition, we would like to draw your attention to the following statement contained within our audit report as included within the full financial statements:-

| "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."

9. | SHARE-BASED PAYMENT TRANSACTIONS

| The company has issued equity-settled share incentives to its employees. The equity offered is that of Mr Yum Holdings Pty Ltd (incorporated in Australia). These incentives vest over a period of 4 years and expire 15 years from the vesting commencement date. The incentives are presented in the form of options.

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

|  | Number of Options |  | Weighted average exercise price (AUS$ | ) |

| Outstanding at 1 January 2024 |  |  | 94,035 |  | $0 |  |

| Granted during the period |  |  | 56,014 |  | $0 |  |

| Forfeited during the period |  |  | (78,242 | ) | $0 |  |

| Exercised during the period |  |  | 0 |  | - |  |

| Expired during the period |  |  | 0 |  | - |  |

| Outstanding at 31 December 2024 |  |  | 72,657 |  | $0 |  |

| Exercisable at 31 December 2024 |  |  | 61,346 |  | $0 |  |

| The fair value of the share options has been determined using the Black-Scholes option pricing model, which takes into account various factors as discussed in note 2.

| In total, £172,178 (2023: £250,678) of employee remuneration expense (all of which relates to equity-settled share-based payment transactions) has been included in profit and loss and credited to the other reserve.

10. | ULTIMATE CONTROLLING PARTY

| There is no ultimate controlling party.

| The ultimate parent undertaking is Mr Yum Holdings Pty Ltd, a company incorporated in Australia. The registered office address is Level 4, 108-112 Langridge Sr, Collingwood, VIC 3066.

| The largest entity preparing consolidated financial statements is Mr Yum Holdings Pty Ltd. Consolidated accounts are not publicly available.