IRIS Accounts Production v25.4.0.155 14959311 Board of Directors 1.4.25 31.12.25 31.12.25 Medium entities publishing of computer games. true false true true false false true false These accounts have been prepared in accordance with the provisions applicable to companies subject to the medium-sized companies regime. Ordinary 1.00000 iso4217:GBP iso4217:USD iso4217:EUR xbrli:shares xbrli:pure utr:tonnes utr:kWh 14959311 2025-03-31 14959311 2025-12-31 14959311 2025-04-01 2025-12-31 14959311 2024-03-31 14959311 2024-04-01 2025-03-31 14959311 2025-03-31 14959311 ns15:EnglandWales 2025-04-01 2025-12-31 14959311 ns14:PoundSterling 2025-04-01 2025-12-31 14959311 ns10:Director1 2025-04-01 2025-12-31 14959311 ns10:PrivateLimitedCompanyLtd 2025-04-01 2025-12-31 14959311 ns10:MediumEntities 2025-04-01 2025-12-31 14959311 ns10:Audited 2025-04-01 2025-12-31 14959311 ns10:Medium-sizedCompaniesRegimeForDirectorsReport 2025-04-01 2025-12-31 14959311 ns10:Medium-sizedCompaniesRegimeForAccounts 2025-04-01 2025-12-31 14959311 ns10:FullAccounts 2025-04-01 2025-12-31 14959311 ns10:OrdinaryShareClass1 2025-04-01 2025-12-31 14959311 ns10:Director4 2025-04-01 2025-12-31 14959311 ns10:RegisteredOffice 2025-04-01 2025-12-31 14959311 ns5:PriorPeriodIncreaseDecrease ns5:RetainedEarningsAccumulatedLosses 2024-04-01 2025-03-31 14959311 ns5:CurrentFinancialInstruments 2025-12-31 14959311 ns5:CurrentFinancialInstruments 2025-03-31 14959311 ns5:Non-currentFinancialInstruments 2025-12-31 14959311 ns5:Non-currentFinancialInstruments 2025-03-31 14959311 ns5:ShareCapital 2025-12-31 14959311 ns5:ShareCapital 2025-03-31 14959311 ns5:RetainedEarningsAccumulatedLosses 2025-12-31 14959311 ns5:RetainedEarningsAccumulatedLosses 2025-03-31 14959311 ns5:ShareCapital 2024-03-31 14959311 ns5:PreviouslyStatedAmount ns5:RetainedEarningsAccumulatedLosses 2024-03-31 14959311 ns5:PreviouslyStatedAmount 2024-03-31 14959311 ns5:PriorPeriodIncreaseDecrease 2024-04-01 2025-03-31 14959311 ns5:RetainedEarningsAccumulatedLosses 2024-03-31 14959311 ns5:RetainedEarningsAccumulatedLosses 2024-04-01 2025-03-31 14959311 ns5:RetainedEarningsAccumulatedLosses 2025-04-01 2025-12-31 14959311 1 2025-04-01 2025-12-31 14959311 ns5:ReportableOperatingSegment1 2025-04-01 2025-12-31 14959311 ns5:ReportableOperatingSegment1 2024-04-01 2025-03-31 14959311 ns5:TotalReportableOperatingSegmentsIncludingAnyUnallocatedAmount 2025-04-01 2025-12-31 14959311 ns5:TotalReportableOperatingSegmentsIncludingAnyUnallocatedAmount 2024-04-01 2025-03-31 14959311 ns5:OwnedAssets 2025-04-01 2025-12-31 14959311 ns5:OwnedAssets 2024-04-01 2025-03-31 14959311 ns10:OrdinaryShareClass1 2024-04-01 2025-03-31 14959311 ns5:LeaseholdImprovements 2025-03-31 14959311 ns5:FurnitureFittings 2025-03-31 14959311 ns5:ComputerEquipment 2025-03-31 14959311 ns5:LeaseholdImprovements 2025-04-01 2025-12-31 14959311 ns5:FurnitureFittings 2025-04-01 2025-12-31 14959311 ns5:ComputerEquipment 2025-04-01 2025-12-31 14959311 ns5:LeaseholdImprovements 2025-12-31 14959311 ns5:FurnitureFittings 2025-12-31 14959311 ns5:ComputerEquipment 2025-12-31 14959311 ns5:LeaseholdImprovements 2025-03-31 14959311 ns5:FurnitureFittings 2025-03-31 14959311 ns5:ComputerEquipment 2025-03-31 14959311 ns5:WithinOneYear ns5:CurrentFinancialInstruments 2025-12-31 14959311 ns5:WithinOneYear ns5:CurrentFinancialInstruments 2025-03-31 14959311 ns5:WithinOneYear 2025-12-31 14959311 ns5:WithinOneYear 2025-03-31 14959311 ns5:BetweenOneFiveYears 2025-12-31 14959311 ns5:BetweenOneFiveYears 2025-03-31 14959311 ns5:AllPeriods 2025-12-31 14959311 ns5:AllPeriods 2025-03-31 14959311 ns5:DeferredTaxation 2025-03-31 14959311 ns5:DeferredTaxation 2025-04-01 2025-12-31 14959311 ns5:DeferredTaxation 2025-12-31 14959311 ns10:OrdinaryShareClass1 2025-12-31 14959311 ns5:RetainedEarningsAccumulatedLosses 2025-03-31

REGISTERED NUMBER: 14959311 (England and Wales)

STRATEGIC REPORT, REPORT OF THE DIRECTORS AND |

| FINANCIAL STATEMENTS |

| FOR THE PERIOD 1 APRIL 2025 TO 31 DECEMBER 2025 |

| FOR |

| IOI BRIGHTON LTD |

IOI BRIGHTON LTD (REGISTERED NUMBER: 14959311)

CONTENTS OF THE FINANCIAL STATEMENTS

FOR THE PERIOD 1 APRIL 2025 TO 31 DECEMBER 2025

Page |

| Company Information | 1 |

| Strategic Report | 2 |

| Report of the Directors | 4 |

| Report of the Independent Auditors | 6 |

| Income Statement | 10 |

| Other Comprehensive Income | 11 |

| Balance Sheet | 12 |

| Statement of Changes in Equity | 13 |

| Notes to the Financial Statements | 14 |

IOI BRIGHTON LTD

COMPANY INFORMATION

FOR THE PERIOD 1 APRIL 2025 TO 31 DECEMBER 2025

| DIRECTORS: | M B Svanum

| Ms V G Lallier

| REGISTERED OFFICE: | Second Floor West Wing Office Premises

| Lees House, Dyke Road

| Brighton and Hove

| BN1 3FE

| REGISTERED NUMBER: | 14959311 (England and Wales)

| AUDITORS: | Oury Clark Chartered Accountants

| Statutory Auditors

| Herschel House

| 58 Herschel Street

| Slough

| Berkshire

| SL1 1PG

IOI BRIGHTON LTD (REGISTERED NUMBER: 14959311)

STRATEGIC REPORT

FOR THE PERIOD 1 APRIL 2025 TO 31 DECEMBER 2025

The directors present their strategic report for the period 1 April 2025 to 31 December 2025.

REVIEW OF BUSINESS

IO Interactive A/S (the Parent Company) develops, publishes, and markets computer games in the global market.

The mission is to develop world class computer games, based on its originally developed characters, universes, concepts and its proprietary technology.

IOI Group primarily works on its own intellectual properties except for high-profile licensed IP's.

IOI Brighton Ltd develops games together with other subsidiaries and works as Video Game Development Company for the current development projects. IOI Brighton Ltd is loaned the staff from other IO entities to drive the development of these projects. The directors of IOI Brighton Ltd are principally responsible for the running of the Company in the ordinary course of business.

Revenue for the period increased from £43m (12 months) in the year ended 31 March 2025 to £49m (9 months) in the period ended 31 December 2025. This is due to a higher activity level because of increasing number of employees on the games under development and that the games are closer to release. Profit for the financial year excluding other operation income is as expected and in alignment with the group's transfer pricing agreement.

PRINCIPAL RISKS AND UNCERTAINTIES

Knowledge Resources

Attracting and retaining highly talented employees is a strategically important area of focus. IO Interactive A/S will continue to make significant investments in recruitment and further development of its employees. IOI Brighton Ltd is an important part of this investment, opening avenues for talent recruitment in the UK. From 1 April 2025 to 31 December 2025 IOI Brighton Ltd went from 38 full-time employees to 44 full-time employees.

Product and Business diversification including internal growing pains

It has been a long-term strategic goal for IO Interactive A/S to diversify the product portfolio by developing new games that cater to audiences different from the fans of the Hitman franchise. Becoming a multi project studio again and growing across multiple countries is bringing equal opportunities and challenges. The products in question are still the minor activities on the Hitman franchise next to our major projects, 007 First Light & Fantasy Project. The latter two are done in collaboration with external partners with both internal and external publishing and financing. These projects are big bets and are of course very challenging to realize from both a creative and talent perspective. IOI Brighton Ltd is Video Game Development Company on these major projects. In 2026 007 First Light will be released in early summer.

Creating new IP's and working on a major licensing IP also bring significant risks, as core systems, technology, new game loops, growing pains with bigger teams all require IOI's foundation to be transformed into something different, new, and usually more advanced/complex. IOI Group has continuing focus on making this transformation as smooth as possible despite the growing aches and challenges it imposes. IOI Group has grown over the years across several studios across different countries, which is challenging for our business culture and ways of doing things, which means that attrition has increased compared to what we have been used to. To combat this, IOI Group must evolve and embrace the new talent and new knowledge needed to achieve our ambitions with our projects and at the same time integrate them into our values.

RESEARCH AND DEVELOPMENT ACTIVITIES

It is an important competitive factor for IOI Group to be at the forefront of game technology. Therefore, IO Interactive A/S will continue to invest substantially in research and development of the group's own game engine technology, modernizing it with new systems like animation, rendering technology and alike. Also, we are investing in multiplayer technology.

IOI BRIGHTON LTD (REGISTERED NUMBER: 14959311)

STRATEGIC REPORT

FOR THE PERIOD 1 APRIL 2025 TO 31 DECEMBER 2025

ANALYSIS USING KEY FINANCIAL AND OTHER PERFORMANCE INDICATORS

Management and the Directors monitor the Company's overall performance against specific project plans and timelines. Management has identified key indicators that are used to monitor performance, which are reviewed on a regular basis. This measurement is not solely done in isolation at the Company level, but also within context of the wider IOI Group. The primary indicator remains to be the retention of highly qualified individuals to work on the projects.

ON BEHALF OF THE BOARD:

M B Svanum - Director

20 March 2026

IOI BRIGHTON LTD (REGISTERED NUMBER: 14959311)

REPORT OF THE DIRECTORS

FOR THE PERIOD 1 APRIL 2025 TO 31 DECEMBER 2025

The directors present their report with the financial statements of the company for the period 1 April 2025 to 31 December 2025.

DIVIDENDS

An interim dividend of £10,000,000 per share was paid on 19 December 2025. The directors recommend that no final dividend be paid.

The total distribution of dividends for the period ended 31 December 2025 will be £ 10,000,000 .

DIRECTORS

M B Svanum has held office during the whole of the period from 1 April 2025 to the date of this report.

Changes in directors holding office are as follows:

Ms V G Lallier was appointed as a director after 31 December 2025 but prior to the date of this report.

H B Abrak and O Prebet ceased to be directors after 31 December 2025 but prior to the date of this report.

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 or she ought to have taken as a director in order to make himself or herself aware of any relevant audit information and to establish that the company's auditors are aware of that information.

IOI BRIGHTON LTD (REGISTERED NUMBER: 14959311)

REPORT OF THE DIRECTORS

FOR THE PERIOD 1 APRIL 2025 TO 31 DECEMBER 2025

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:

M B Svanum - Director

20 March 2026

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF

IOI BRIGHTON LTD

Opinion

We have audited the financial statements of IOI Brighton Ltd (the 'company') for the period ended 31 December 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 31 December 2025 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 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 and one day 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 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 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.

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF

IOI BRIGHTON LTD

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 any matters in the Strategic Report and the Report of the Directors 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 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 four, 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.

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF

IOI BRIGHTON LTD

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:

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

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

- Discussing within the engagement team regarding how and where fraud may occur in the financial statement long with the possible indicators of fraud. We identified management override as the area most likely to be susceptible to fraud;

- Discussing within 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

As noted above, we identified management override as the matter that would most likely be susceptible to fraud. Our procedures to respond to this risk included the following:

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

- Reviewing all journals posted during the period and the nominal ledger and investigating large or unusual transactions.

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:

- Review the financial statement disclosures and testing to supporting documentation to assess compliance with the Companies Act 2006;

- Review the corporation tax return to ensure it complies with UK tax legislation;

- Safeguard review of financial statements by a qualified accountant independent of the audit team; and

- Check a sample of compliance with right to work checks and a review of legal fees for any indication of material issues arising out of non-compliance with employment law.

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.

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF

IOI BRIGHTON LTD

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.

Rachel Lockwood (Senior Statutory Auditor)

for and on behalf of Oury Clark Chartered Accountants

Statutory Auditors

Herschel House

58 Herschel Street

Slough

Berkshire

SL1 1PG

20 March 2026

IOI BRIGHTON LTD (REGISTERED NUMBER: 14959311)

INCOME STATEMENT

FOR THE PERIOD 1 APRIL 2025 TO 31 DECEMBER 2025

| Period |

| 1.4.25 |

| to |  | Year Ended

| 31.12.25 |  | 31.3.25

| Notes | £ | £ |

TURNOVER | 3 | 49,230,457 |  | 42,707,716 |  |

Administrative expenses | 48,809,860 |  | 42,362,058 |  |

420,597 |  | 345,658 |  |

Other operating income | 6,614,096 |  | 10,050,517 |  |

OPERATING PROFIT | 5 | 7,034,693 |  | 10,396,175 |  |

Interest receivable and similar income | 10,740 |  | 15,361 |  |

7,045,433 |  | 10,411,536 |  |

Interest payable and similar expenses | 6 | - |  | 53,681 |  |

PROFIT BEFORE TAXATION | 7,045,433 |  | 10,357,855 |  |

Tax on profit | 7 | (46,361 | ) | 90,354 |  |

PROFIT FOR THE FINANCIAL PERIOD | 7,091,794 |  | 10,267,501 |  |

IOI BRIGHTON LTD (REGISTERED NUMBER: 14959311)

OTHER COMPREHENSIVE INCOME

FOR THE PERIOD 1 APRIL 2025 TO 31 DECEMBER 2025

| Period |

| 1.4.25 |

| to |  | Year Ended

| 31.12.25 |  | 31.3.25

| Notes | £ | £ |

PROFIT FOR THE PERIOD | 7,091,794 |  | 10,267,501 |  |

OTHER COMPREHENSIVE INCOME | - |  | - |  |

TOTAL COMPREHENSIVE INCOME FOR THE PERIOD | 7,091,794 |  |

Prior year adjustment | 526,381 |  |

TOTAL COMPREHENSIVE INCOME SINCE LAST ANNUAL REPORT | 10,793,882 |  |

IOI BRIGHTON LTD (REGISTERED NUMBER: 14959311)

BALANCE SHEET

31 DECEMBER 2025

| 31.12.25 | 31.3.25 |

| Notes | £ | £ | £ | £ |

FIXED ASSETS

Tangible assets | 10 | 534,938 |  | 609,439 |  |

CURRENT ASSETS

Debtors | 11 | 12,737,366 |  | 14,621,355 |  |

Cash at bank | 3,004,821 |  | 776,712 |  |

15,742,187 |  | 15,398,067 |  |

CREDITORS

Amounts falling due within one year | 12 | 5,348,103 |  | 2,152,231 |  |

NET CURRENT ASSETS | 10,394,084 |  | 13,245,836 |  |

TOTAL ASSETS LESS CURRENT LIABILITIES | 10,929,022 |  | 13,855,275 |  |

CREDITORS

Amounts falling due after more than one year | 13 | (385,896 | ) | (285,068 | ) |

PROVISIONS FOR LIABILITIES | 15 | - |  | (118,875 | ) |

NET ASSETS | 10,543,126 |  | 13,451,332 |  |

CAPITAL AND RESERVES

Called up share capital | 16 | 1 |  | 1 |  |

Retained earnings | 17 | 10,543,125 |  | 13,451,331 |  |

SHAREHOLDERS' FUNDS | 10,543,126 |  | 13,451,332 |  |

The financial statements were approved by the Board of Directors and authorised for issue on 20 March 2026 and were signed on its behalf by:

M B Svanum - Director

IOI BRIGHTON LTD (REGISTERED NUMBER: 14959311)

STATEMENT OF CHANGES IN EQUITY

FOR THE PERIOD 1 APRIL 2025 TO 31 DECEMBER 2025

| Called up |

| share |  | Retained |  | Total

| capital |  | earnings |  | equity

£ | £ | £ |

Balance at 1 April 2024 | 1 |  | 2,657,449 |  | 2,657,450 |  |

Prior year adjustment | - |  | 526,381 |  | 526,381 |  |

As restated | 1 |  | 3,183,830 |  | 3,183,831 |  |

Changes in equity

Total comprehensive income | - |  | 10,267,501 |  | 10,267,501 |  |

Balance at 31 March 2025 | 1 |  | 13,451,331 |  | 13,451,332 |  |

Changes in equity

Dividends | - |  | (10,000,000 | ) | (10,000,000 | ) |

Total comprehensive income | - |  | 7,091,794 |  | 7,091,794 |  |

Balance at 31 December 2025 | 1 |  | 10,543,125 |  | 10,543,126 |  |

IOI BRIGHTON LTD (REGISTERED NUMBER: 14959311)

NOTES TO THE FINANCIAL STATEMENTS

FOR THE PERIOD 1 APRIL 2025 TO 31 DECEMBER 2025

1. | STATUTORY INFORMATION

| IOI Brighton 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.

| The trading address of the Company is the same as the registered office address.

| During the current financial period, the Company changed its accounting reference date in order to align its reporting timetable with other entities within the Group. As a result, the financial year has been shortened to a nine-month period.

| Accordingly, the comparative figures presented for the prior year relate to a full twelve-month period and are therefore not directly comparable with the current period’s results.

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 a going concern basis as IO Interactive A/S, the immediate parent company, will continue to trade with the Company as required for a period in excess of 12 months and one day from the signing of the audit report.

| The company has taken advantage of the following disclosure exemption 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.

| Related party exemption

| The company has taken advantage of the 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 process of preparing financial statements in conformity with accounting principles generally accepted in the United Kingdom ("GAAP") requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and the disclosures of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. 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. Actual results could differ from those estimates.

| Turnover

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

| Turnover is calculated on a cost plus basis in relation to third party operating expenses incurred, and is recharged to a fellow group company. Subcontractor expenses charged to us are passed on with no mark up added.

IOI BRIGHTON LTD (REGISTERED NUMBER: 14959311)

NOTES TO THE FINANCIAL STATEMENTS - continued

FOR THE PERIOD 1 APRIL 2025 TO 31 DECEMBER 2025

2. | ACCOUNTING POLICIES - continued

| Tangible fixed assets

| Tangible fixed assets are initially recognised 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 asset over its estimated useful life:

| Fixtures and fittings - 5 year, straight line

| Computer equipment - 3 year, straight line

| Leasehold improvements - 10 year, straight line

| Financial instruments

| Basic Financial Instruments as covered by Section 11 of FRS 102 are measured at amortised cost. The company does not have any Other Financial Instruments as covered by Section 12 of FRS 102.

| Taxation

| Taxation for the period 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 period 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.

IOI BRIGHTON LTD (REGISTERED NUMBER: 14959311)

NOTES TO THE FINANCIAL STATEMENTS - continued

FOR THE PERIOD 1 APRIL 2025 TO 31 DECEMBER 2025

2. | ACCOUNTING POLICIES - continued

| Government grants - video game tax relief

| Income from Video Game Tax Relief (VGTR) is accounted for under FRS 102 Section 24 - Government Grants. VGTR is recognised as a government grant and is treated as other operating income in the profit and loss account.

| The grant is recognised when there is reasonable assurance that:

| - the company has complied with the relevant conditions attached to the scheme; and

| - the grant will be received.

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:

| Period |

| 1.4.25 |

| to | Year Ended

| 31.12.25 |  | 31.3.25

£ | £ |

| Intercompany revenue | 49,230,457 |  | 42,707,716 |  |

49,230,457 |  | 42,707,716 |  |

| All revenue derives from the parent company based in Denmark.

4. | EMPLOYEES AND DIRECTORS

| Period |

| 1.4.25 |

| to | Year Ended

| 31.12.25 |  | 31.3.25

£ | £ |

| Wages and salaries | 2,435,674 |  | 2,175,123 |  |

| Social security costs | 332,938 |  | 231,222 |  |

| Other pension costs | 142,579 |  | 126,736 |  |

2,911,191 |  | 2,533,081 |  |

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

| Period |

| 1.4.25 |

| to | Year Ended

| 31.12.25 |  | 31.3.25

| Games development | 37 |  | 27 |  |

| Admin and marketing | 5 |  | 5 |  |

42 |  | 32 |  |

IOI BRIGHTON LTD (REGISTERED NUMBER: 14959311)

NOTES TO THE FINANCIAL STATEMENTS - continued

FOR THE PERIOD 1 APRIL 2025 TO 31 DECEMBER 2025

4. | EMPLOYEES AND DIRECTORS - continued

| Period |

| 1.4.25 |

| to | Year Ended

| 31.12.25 |  | 31.3.25

£ | £ |

| Directors' remuneration | - |  | 40,401 |  |

5. | OPERATING PROFIT

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

| Period |

| 1.4.25 |

| to | Year Ended

| 31.12.25 |  | 31.3.25

£ | £ |

| Rental leases | 595,670 |  | 525,783 |  |

| Depreciation - owned assets | 132,476 |  | 107,654 |  |

| Auditors' remuneration | 34,671 |  | 18,008 |  |

| Foreign exchange differences | (46,402 | ) | (163,659 | ) |

6. | INTEREST PAYABLE AND SIMILAR EXPENSES |

| Period |

| 1.4.25 |

| to | Year Ended

| 31.12.25 |  | 31.3.25

£ | £ |

| Bank interest | - |  | 65 |  |

| Intercompany loan interest | - |  | 53,616 |  |

- |  | 53,681 |  |

7. | TAXATION

| Analysis of the tax (credit)/charge

| The tax (credit)/charge on the profit for the period was as follows:

| Period |

| 1.4.25 |

| to | Year Ended

| 31.12.25 |  | 31.3.25

£ | £ |

| Current tax:

| UK corporation tax | 52,422 |  | 5,585 |  |

| Deferred tax | (98,783 | ) | 84,769 |  |

| Tax on profit | (46,361 | ) | 90,354 |  |

IOI BRIGHTON LTD (REGISTERED NUMBER: 14959311)

NOTES TO THE FINANCIAL STATEMENTS - continued

FOR THE PERIOD 1 APRIL 2025 TO 31 DECEMBER 2025

7. | TAXATION - continued

| Reconciliation of total tax (credit)/charge included in profit and loss

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

| Period |

| 1.4.25 |

| to | Year Ended

| 31.12.25 |  | 31.3.25

£ | £ |

| Profit before tax | 7,045,433 |  | 10,357,855 |  |

| Profit multiplied by the standard rate of corporation tax in the UK of 25% (2025 - 25%) | 1,761,358 |  | 2,589,464 |  |

| Effects of:

| Expenses not deductible for tax purposes | 211,657 |  | 145,030 |  |

| Income not taxable for tax purposes | (1,653,524 | ) | (2,512,629 | ) |

| Capital allowances in excess of depreciation | - |  | (87,485 | ) |

| Depreciation in excess of capital allowances | 76,109 |  | - |  |

| Deferred tax charges | (78,528 | ) | 84,769 |  |

| Video games tax credit offset | (363,433 | ) | (128,795 | ) |

| Total tax (credit)/charge | (46,361 | ) | 90,354 |  |

8. | DIVIDENDS

| Period |

| 1.4.25 |

| to | Year Ended

| 31.12.25 |  | 31.3.25

£ | £ |

| Ordinary share of £1

| Interim | 10,000,000 |  | - |  |

9. | PENSION COMMITMENTS

| During the period, the Company made pension contributions of £142,579 (31.3.25: £127,834). Within this, the company made no pension contributions on behalf of directors (31.3.25: £1,098). As at the period end, total unpaid pension contributions were £32,692 (31.3.25: £20,819).

IOI BRIGHTON LTD (REGISTERED NUMBER: 14959311)

NOTES TO THE FINANCIAL STATEMENTS - continued

FOR THE PERIOD 1 APRIL 2025 TO 31 DECEMBER 2025

10. | TANGIBLE FIXED ASSETS

| Improvements |  | Fixtures |

| to |  | and |  | Computer |

| leasehold |  | fittings |  | equipment |  | Totals

£ | £ | £ | £ |

| COST

| At 1 April 2025 | 320,386 |  | 61,298 |  | 372,472 |  | 754,156 |  |

| Additions | - |  | 1,985 |  | 55,990 |  | 57,975 |  |

| At 31 December 2025 | 320,386 |  | 63,283 |  | 428,462 |  | 812,131 |  |

| DEPRECIATION

| At 1 April 2025 | 10,680 |  | 14,497 |  | 119,540 |  | 144,717 |  |

| Charge for period | 24,028 |  | 14,435 |  | 94,013 |  | 132,476 |  |

| At 31 December 2025 | 34,708 |  | 28,932 |  | 213,553 |  | 277,193 |  |

| NET BOOK VALUE

| At 31 December 2025 | 285,678 |  | 34,351 |  | 214,909 |  | 534,938 |  |

| At 31 March 2025 | 309,706 |  | 46,801 |  | 252,932 |  | 609,439 |  |

11. | DEBTORS

| 31.12.25 |  | 31.3.25

£ | £ |

| Amounts falling due within one year:

| Amounts owed by group undertakings | 5,421,752 |  | 1,055,225 |  |

| Other debtors | 6,405,197 |  | 13,156,330 |  |

| VAT | 132,681 |  | 47,187 |  |

| Deferred tax asset | 6,918 |  | - |  |

| Prepayments and accrued income | 545,792 |  | 137,587 |  |

12,512,340 |  | 14,396,329 |  |

| Amounts falling due after more than one year:

| Other debtors | 225,026 |  | 225,026 |  |

| Aggregate amounts | 12,737,366 |  | 14,621,355 |  |

| There are pending video games tax relief claims at the sign off date. This is included in the financial statements under other debtors, totalling £6,386,301 (31.3.2025: £13,156,330) being the amount receivable.

IOI BRIGHTON LTD (REGISTERED NUMBER: 14959311)

NOTES TO THE FINANCIAL STATEMENTS - continued

FOR THE PERIOD 1 APRIL 2025 TO 31 DECEMBER 2025

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

| 31.12.25 |  | 31.3.25

£ | £ |

| Trade creditors | 277,716 |  | 27,902 |  |

| Amounts owed to group undertakings | 4,569,254 |  | 1,866,576 |  |

| Tax | 52,422 |  | - |  |

| Social security and other taxes | 98,902 |  | 138,137 |  |

| Other creditors | 34,652 |  | 24,783 |  |

| Accrued expenses | 315,157 |  | 94,833 |  |

5,348,103 |  | 2,152,231 |  |

13. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |

| 31.12.25 |  | 31.3.25

£ | £ |

| Accruals and deferred income | 385,896 |  | 285,068 |  |

14. | LEASING AGREEMENTS

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

| 31.12.25 |  | 31.3.25

£ | £ |

| Within one year | 386,366 |  | 363,254 |  |

| Between one and five years | 684,873 |  | 1,033,353 |  |

1,071,239 |  | 1,396,607 |  |

15. | PROVISIONS FOR LIABILITIES

| 31.3.25

£ |

| Deferred tax | 118,875 |  |

| Deferred |

| tax |

£ |

| Balance at 1 April 2025 | 118,875 |  |

| Credit to Income Statement during period | (125,793 | ) |

| Balance at 31 December 2025 | (6,918 | ) |

16. | CALLED UP SHARE CAPITAL

| Allotted, issued and fully paid:

| Number: | Class: | Nominal | 31.12.25 |  | 31.3.25

| value: | £ | £ |

| 1 | Ordinary | £1 | 1 |  | 1 |  |

IOI BRIGHTON LTD (REGISTERED NUMBER: 14959311)

NOTES TO THE FINANCIAL STATEMENTS - continued

FOR THE PERIOD 1 APRIL 2025 TO 31 DECEMBER 2025

17. | RESERVES

| Retained

| earnings

£ |

| At 1 April 2025 | 13,451,331 |  |

| Profit for the period | 7,091,794 |  |

| Dividends | (10,000,000 | ) |

| At 31 December 2025 | 10,543,125 |  |

18. | SHARE-BASED PAYMENT TRANSACTIONS

| At the period end, the company has equity settled share options with its employees. The equity offered is that of the parent company, IO Interactive A/S.

| Options under the Plan are generally exercisable when vested and subject to such terms, conditions, performance criteria, and restrictions as determined by the Board of Directors and set forth in the related option agreements.

| The options vest over a four-year period from their grant date.

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

| Item |  | Number |  | Weighted average exercise price (DKK | ) |

| Outstanding at the beginning of the period |  | 1771 |  | 1 |  |

| Granted during the period |  | - |  | - |  |

| Forfeited during the period |  | 656 |  | 1 |  |

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

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

| Outstanding at the end of the period |  | 1115 |  | 1 |  |

| Exercisable at the end of the period |  | - |  | - |  |

| No share option expense or reserve has been recognised to date in relation to these equity settled share options.

19. | ULTIMATE PARENT COMPANY

| The immediate parent company is IO Interactive A/S, a company incorporated in Denmark. The ultimate parent company is Greater Bag of Holding A/S, a company incorporated in Denmark. The registered address for both these entities is Gammel Mont 2, 1117 Copenhagen K. The group headed by Greater Bag of Holding A/S is the largest and smallest group that prepares consolidated accounts. Consolidated financial statements are publicly available at datacvr.virk.dk.