Company registration number 08217462 (England and Wales)
TEALIUM LIMITED
ANNUAL REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
TEALIUM LIMITED
CONTENTS
Page
Strategic report
1
Directors' report
2
Directors' responsibilities statement
3
Independent auditor's report
4 - 7
Profit and loss account
8
Statement of comprehensive income
9
Balance sheet
10
Statement of changes in equity
11
Statement of cash flows
12
Notes to the financial statements
13 - 27
TEALIUM LIMITED
STRATEGIC REPORT
FOR THE YEAR ENDED 31 DECEMBER 2025
- 1 -

The directors present the strategic report for the year ended 31 December 2025.

Principal activity

The principal activity of the company continued to be that of the provision of sales representative services to the parent company.

Principal risks and uncertainties

The key business risks and uncertainties affecting the business are considered to relate to competition, suppliers, the economic environment, exchange differences and staff retention.

Fluctuations in currency markets can impact both the top and bottom line in the Profit and Loss Account; most notably the Euro against Pound Sterling.

Review of the business

The results for the year are set out on page 8.

The company is a cost plus company. The turnover for the 2025 year has been calculated on a cost plus arrangement of 5% (2024: 5%).

The company is financially secure and in a good position to take advantage of any opportunities which may arise in the future.

Key performance indicators

The board monitors the progress of the company by reference to the following financial and non-financial key performance indicators: sales achieved for group companies, costs, success on contract bids, new revenue generated from new and existing customers, customer satisfaction, and employee retention.

Going concern

A t the time of approving the financial statements, t he directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Th erefore, t he directors continue to adopt the going concern basis of accounting in preparing the financial statements.

The company provides sales and marketing services for its overseas parent and operates under a transfer pricing agreement (TPA). The ability of the company to operate as a going concern is dependent upon its parent compan y settling liabilities arising under the TPA in accordance with the terms of that agreement.

On behalf of the board

..............................
D S Lindroth
Director
.........................
TEALIUM LIMITED
DIRECTORS' REPORT
FOR THE YEAR ENDED 31 DECEMBER 2025
- 2 -

The directors present their annual report and financial statements for the year ended 31 December 2025.

Results and dividends

The results for the year are set out on page 8.

No ordinary dividends were paid. The directors do not recommend payment of a final dividend.

Directors

The directors who held office during the year and up to the date of signature of the financial statements were as follows:

D S Lindroth
P C Maynard
Post reporting date events

Included in these financial statements is a provision relating to an employee settlement agreement, this matter is still ongoing at the Reporting date and will only be concluded in the future, a date after signing these accounts.

There were no further significant events after the Balance Sheet date.

Future developments

The directors aim to maintain the management policies which have resulted in the company's performance and growth over the years.

Auditor

Gravita Audit Oxford LLP were appointed as auditor to the company and in accordance with section 485 of the Companies Act 2006, a resolution proposing that they be re-appointed will be put at a General Meeting.

Statement of disclosure to auditor

So far as each person who was a director at the date of approving this report is aware, there is no relevant audit information of which the company’s auditor is unaware. Additionally, the directors individually have taken all the necessary steps that they ought to have taken as directors in order to make themselves aware of all relevant audit information and to establish that the company’s auditor is aware of that information.

Medium-sized companies exemption

This report has been prepared in accordance with the provisions applicable to companies entitled to the medium-sized companies exemption.

On behalf of the board
D S Lindroth
Director
7 April 2026
TEALIUM LIMITED
DIRECTORS' RESPONSIBILITIES STATEMENT
FOR THE YEAR ENDED 31 DECEMBER 2025
- 3 -

The directors are responsible for preparing the annual report 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; and

- 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.

TEALIUM LIMITED
INDEPENDENT AUDITOR'S REPORT
TO THE MEMBER OF TEALIUM LIMITED
- 4 -
Opinion

We have audited the financial statements of Tealium Limited (the 'company') for the year ended 31 December 2025 which comprise the profit and loss account, the statement of comprehensive income, the balance sheet, the statement of changes in equity, the statement of cash flows and notes to the financial statements, including 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 loss 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 Auditor's 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 entity’s ability to continue as a going concern for a period of at least 12 months from when the financial statements are authorised for issue.

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

Other information

The other information comprises the information included in the annual report other than the financial statements and our auditor's report thereon. The directors are responsible for the other information contained within the annual report. 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. Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit, or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.

We have nothing to report in this regard.

Opinions on other matters prescribed by the Companies Act 2006

In our opinion, based on the work undertaken in the course of our audit:

- the information given in the strategic report and the directors' r eport for the financial year for which the financial statements are prepared is consistent with the financial statements; and

- the strategic report and the directors' report have been prepared in accordance with applicable legal requirements.

TEALIUM LIMITED
INDEPENDENT AUDITOR'S REPORT (CONTINUED)
TO THE MEMBER OF TEALIUM LIMITED
- 5 -
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 identifie d material misstatements in the strategic report and the directors' r eport.

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 directors' r esponsibilities s tatement, 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 is 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.

TEALIUM LIMITED
INDEPENDENT AUDITOR'S REPORT (CONTINUED)
TO THE MEMBER OF TEALIUM LIMITED
- 6 -
Auditor's 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 an auditor’s report 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:

Our approach to identifying and assessing the risks of material misstatement in respect of irregularities, including fraud and non-compliance with laws and regulations, was as follows:

- the engagement partner ensured that the engagement team collectively had the appropriate competence, capabilities and skills to identify or recognise non-compliance with applicable laws and regulations;

- we identified the laws and regulations applicable to the company through discussions with directors and from our knowledge and experience of the client’s business sector;

- we focused on specific laws and regulations which we considered may have a direct material effect on the financial statements or the operations of the company, including the Companies Act 2006, taxation legislation, data protection, anti-bribery, employment, environmental and health and safety legislation;

- we assessed the extent of compliance with the laws and regulations identified above through making enquiries of management and inspecting legal correspondence; and

- identified laws and regulations were communicated within the audit team regularly and the team remained alert to instances of non-compliance throughout the audit.

We assessed the susceptibility of the company’s financial statements to material misstatement, including obtaining an understanding of how fraud might occur, by:

- making enquiries of management as to where they considered there was susceptibility to fraud, their knowledge of actual, suspected and alleged fraud; and

- considering the internal controls in place to mitigate risks of fraud and non-compliance with laws and regulations.

To address the risk of fraud through management bias and override of controls, we:

- performed analytical procedures to identify any unusual or unexpected relationships;

- tested journal entries to identify unusual transactions;

- assessed whether judgements and assumptions made in determining the accounting estimates set out in Note 2 were indicative of potential bias; and

- investigated the rationale behind significant or unusual transactions.

In response to the risk of irregularities and non-compliance with laws and regulations, we designed procedures which included, but were not limited to:

- enquiring of management as to actual and potential litigation and claims;

There are inherent limitations in our audit procedures described above. The more removed that laws and regulations are from financial transactions, the less likely it is that we would become aware of non-compliance. Auditing standards also limit the audit procedures required to identify non-compliance with laws and regulations to enquiry of the directors and other management and the inspection of regulatory and legal correspondence, if any.

Material misstatements that arise due to fraud can be harder to detect than those that arise from error as they may involve deliberate concealment or collusion.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council’s website at: http s://www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor’s report.

TEALIUM LIMITED
INDEPENDENT AUDITOR'S REPORT (CONTINUED)
TO THE MEMBER OF TEALIUM LIMITED
- 7 -

Use of our report

This report is made solely to the company's member 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 member those matters we are required to state to them in an auditor's report 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 member for our audit work, for this report, or for the opinions we have formed.

Katherine Wilkes (Senior Statutory Auditor)
for and on behalf of Gravita Audit Oxford LLP
9 April 2026
Statutory Auditor
First Floor
Park Central
40-41 Park End Street
Oxford
OX1 1JD
TEALIUM LIMITED
PROFIT AND LOSS ACCOUNT
FOR THE YEAR ENDED 31 DECEMBER 2025
- 8 -
2025
2024
Notes
£
£
Turnover
3
17,428,055
16,434,159
Cost of sales
(2,449,182)
(2,548,745)
Gross profit
14,978,873
13,885,414
Administrative expenses
(14,571,332)
(13,653,390)
Operating profit
4
407,541
232,024
Interest receivable and similar income
8
6
-
0
Interest payable and similar expenses
9
-
0
(25,427)
Profit before taxation
407,547
206,597
Tax on profit
10
(483,858)
(450,173)
Loss for the financial year
(76,311)
(243,576)

The profit and loss account has been prepared on the basis that all operations are continuing operations.

TEALIUM LIMITED
STATEMENT OF COMPREHENSIVE INCOME
FOR THE YEAR ENDED 31 DECEMBER 2025
- 9 -
2025
2024
£
£
Loss for the year
(76,311)
(243,576)
Other comprehensive income
-
-
Total comprehensive income for the year
(76,311)
(243,576)
TEALIUM LIMITED
BALANCE SHEET
AS AT
31 DECEMBER 2025
31 December 2025
- 10 -
2025
2024
Notes
£
£
£
£
Fixed assets
Tangible assets
11
79,474
92,879
Current assets
Debtors
13
7,108,193
5,696,261
Cash at bank and in hand
850,441
1,513,419
7,958,634
7,209,680
Creditors: amounts falling due within one year
14
(2,725,897)
(2,401,669)
Net current assets
5,232,737
4,808,011
Total assets less current liabilities
5,312,211
4,900,890
Creditors: amounts falling due after more than one year
15
(223,028)
(179,422)
Net assets
5,089,183
4,721,468
Capital and reserves
Called up share capital
19
100
100
Other reserves
21
4,112,493
3,668,467
Profit and loss reserves
22
976,590
1,052,901
Total equity
5,089,183
4,721,468

These financial statements have been prepared in accordance with the provisions relating to medium-sized companies.

The financial statements were approved by the board of directors and authorised for issue on 7 April 2026 and are signed on its behalf by:
D S Lindroth
Director
Company registration number 08217462 (England and Wales)
TEALIUM LIMITED
STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 DECEMBER 2025
- 11 -
Share capital
Other reserves
Profit and loss reserves
Total
£
£
£
£
Balance at 1 January 2024
100
3,062,814
1,317,631
4,380,545
Year ended 31 December 2024:
Loss and total comprehensive income for the year
-
-
(243,576)
(243,576)
Share based payments
-
584,499
-
0
584,499
Deferred tax on share based payments
-
21,154
(21,154)
-
Balance at 31 December 2024
100
3,668,467
1,052,901
4,721,468
Year ended 31 December 2025:
Loss and total comprehensive income for the year
-
-
(76,311)
(76,311)
Share based payments
-
444,026
-
0
444,026
Balance at 31 December 2025
100
4,112,493
976,590
5,089,183
TEALIUM LIMITED
STATEMENT OF CASH FLOWS
FOR THE YEAR ENDED 31 DECEMBER 2025
- 12 -
2025
2024
Notes
£
£
£
£
Cash flows from operating activities
Cash (absorbed by)/generated from operations
28
(390,653)
1,279,403
Interest paid
-
0
(25,427)
Income taxes paid
(239,999)
(872,586)
Net cash (outflow)/inflow from operating activities
(630,652)
381,390
Investing activities
Purchase of tangible fixed assets
(32,332)
(64,935)
Interest received
6
-
0
Net cash used in investing activities
(32,326)
(64,935)
Net (decrease)/increase in cash and cash equivalents
(662,978)
316,455
Cash and cash equivalents at beginning of year
1,513,419
1,196,964
Cash and cash equivalents at end of year
850,441
1,513,419
TEALIUM LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
- 13 -
1
Accounting policies
Company information

Tealium Limited is a private company limited by shares incorporated in England and Wales. The registered office is Unit 2, Minton Place, Victoria Road, Bicester, Oxfordshire, United Kingdom, OX26 6QB. The principal place of business is Part 2nd Floor, The Pinnacle, Reading, Berkshire, RG1 1NH.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006.

The financial statements are prepared in sterling. Monetary a mounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2
Going concern

A true t the time of approving the financial statements, t he directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Th erefore, t he directors continue to adopt the going concern basis of accounting in preparing the financial statements.

The company provides sales and marketing services for its overseas parent and operates under a transfer pricing agreement (TPA). The ability of the company to operate as a going concern is dependent upon its parent compan y settling liabilities arising under the TPA in accordance with the terms of that agreement.

1.3
Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

When cash inflows are deferred and represent a financing arrangement, the fair value of the consideration is the present value of the future receipts. The difference between the fair value of the consideration and the nominal amount received is recognised as interest income.

The turnover figure represented in the profit and loss account is intercompany revenue based on a cost plus service agreement with the company's parent, and is recognised at cost plus 5% (2023: 5%).

1.4
Tangible fixed assets

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

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Leasehold improvements
3 years straight line
Fixtures and fittings
2 and 5 years straight line
Computers
3 years straight line

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

TEALIUM LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
1
Accounting policies
(Continued)
- 14 -
1.5
Impairment of fixed assets

At each reporting period end date, the company reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

1.6
Cash at bank and in hand

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.7
Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

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

Other financial assets

Other financial assets, including investments in equity instruments which are not subsidiaries, associates or joint ventures, are initially measured at fair value, which is normally the transaction price. Such assets are subsequently carried at fair value and the changes in fair value are recognised in profit or loss, except that investments in equity instruments that are not publicly traded and whose fair values cannot be measured reliably are measured at cost less impairment.

Impairment of financial assets

Financial assets, other than those held at fair value through profit and loss, are assessed for indicators of impairment at each reporting end date.

Financial assets are impaired where there is objective evidence that, as a result of one or more events that occurred after the initial recognition of the financial asset, the estimated future cash flows have been affected. If an asset is impaired, the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset’s original effective interest rate. The impairment loss is recognised in profit or loss.

If there is a decrease in the impairment loss arising from an event occurring after the impairment was recognised, the impairment is reversed. The reversal is such that the current carrying amount does not exceed what the carrying amount would have been, had the impairment not previously been recognised. The impairment reversal is recognised in profit or loss.

TEALIUM LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
1
Accounting policies
(Continued)
- 15 -
Derecognition of financial assets

Financial assets are derecognised only when the contractual rights to the cash flows from the asset expire or are settled, or when the company transfers the financial asset and substantially all the risks and rewards of ownership to another entity, or if some significant risks and rewards of ownership are retained but control of the asset has transferred to another party that is able to sell the asset in its entirety to an unrelated third party.

Classification of financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Basic financial liabilities

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

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. A m ounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Other financial liabilities

Derivatives, including interest rate swaps and forward foreign exchange contracts, are not basic financial instruments. Derivatives are initially recognised at fair value on the date a derivative contract is entered into and are s ubsequently re-measured at their fair value. Changes in the fair value of derivatives are recognised in profit or loss in finance costs or finance income as appropriate, unless hedge accounting is applied and the hedge is a cash flow hedge.

Debt instruments that do not meet the conditions in FRS 102 paragraph 11.9 are subsequently measured at fair value through profit or loss. Debt instruments may be designated as being measured at fair value th r ough profit or loss to eliminate or reduce an accounting mismatch or if the instruments are measured and their performance evaluated on a fair value basis in accordance with a documented risk management or investment strategy.

Derecognition of financial liabilities

Financial liabilities are derecognised when the company’s contractual obligations expire or are discharged or cancelled.

1.8
Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

1.9
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

TEALIUM LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
1
Accounting policies
(Continued)
- 16 -
Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

1.10
Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

1.11
Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

1.12
Share based payments

The company participates in a share based payment arrangement granted to its employees and certain consultants by its parent company Tealium Inc. The company has elected to recognise and measure its share based payment expense on the basis of a reasonable allocation of the expense for the group recognised in its consolidated accounts. The directors consider the number of unvested options granted to the company’s employees and consultants compared to the total unvested options granted under the group plan to be a reasonable basis for allocating the expense.

For share based payments the company has elected to take a transition exemption which was available to small companies (which was applicable to the company at that time). Therefore, the fair value adjustments for share based payments are only recognised for grants which occurred after 31st December 2015, the last reporting year under old UK GAAP.

1.13
Leases

Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the lease d asset are consumed.

TEALIUM LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
1
Accounting policies
(Continued)
- 17 -
1.14
Foreign exchange

Transactions in currencies other than pounds sterling are recorded at the rates of exchange prevailing at the dates of the transactions. At each reporting end date, monetary assets and liabilities that are denominated in foreign currencies are retranslated at the rates prevailing on the reporting end date. Gains and losses arising on translation in the period are included in profit or loss.

2
Judgements and key sources of estimation uncertainty

In the application of the company’s accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

Critical judgements

The following judgements (apart from those involving estimates) have had the most significant effect on amounts recognised in the financial statements.

Share based payments

Until the 31st January 2025, t he charge recognised in relation to share-based payments granted to employees and certain consultants, wa s recognised based on the fair value of the award at grant date as an expense over the period when the awards were expected to vest. The fair value at grant date wa s measured based on the market value of equity issued by the parent company. The charge wa s adjusted based on the probability of the options being exercised. The fair value at grant date wa s not subsequently adjusted. However, the expense wa s adjusted for the number of awards that were expected to vest.

After 31st January 2025, the charge recognised in relation to share-based payments granted to employees and certain consultants, is recognised as the intrinsic value of vested options in excess of the amounts recognised previously.

3
Turnover and other revenue
2025
2024
£
£
Turnover analysed by geographical market
United States of America
17,428,055
16,434,159
2025
2024
£
£
Other revenue
Interest income
6
-
TEALIUM LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
- 18 -
4
Operating profit
2025
2024
Operating profit for the year is stated after charging/(crediting):
£
£
Exchange gains
(515)
(6,111)
Depreciation of owned tangible fixed assets
45,737
47,474
Share-based payments
444,026
584,499
Operating lease charges
474,433
423,243

Exchange differences recognised in profit or loss during the year, except for those arising on financial instruments measured at fair value through profit or loss, amounted to a gain of £515, (2024: £6,111 gain).

5
Auditor's remuneration
2025
2024
Fees payable to the company's auditor and associates:
£
£
For audit services
Audit of the financial statements of the company
11,750
11,000
6
Employees

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

2025
2024
Number
Number
Sales
77
81
Engineers
18
18
Management
2
2
97
101

Their aggregate remuneration comprised:

2025
2024
£
£
Wages and salaries
10,094,875
10,229,249
Social security costs
1,899,011
1,863,667
Pension costs
369,405
386,781
12,363,290
12,479,697

Redundancy payments made and committed to in the year amounted to £361,075 (2024: £301,057). At the balance sheet date £302,483 of this amount had been paid, the remainder is included in creditors as provisions.

TEALIUM LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
- 19 -
7
Directors' remuneration

The current directors of Tealium Limited are also the directors or officers of a number of other group companies. As such, these directors' services to the company are incidental to their duties as directors and officers of those other group companies. Therefore, there is no remuneration to be disclosed for these directors for the current and comparative years in the financial statements of the company, the portion of directors' time spent on services to the company is not considered significant.

8
Interest receivable and similar income
2025
2024
£
£
Interest income
Interest on bank deposits
6
-
0
2025
2024
Investment income includes the following:
£
£
Interest on financial assets not measured at fair value through profit or loss
6
-
0
9
Interest payable and similar expenses
2025
2024
£
£
Other finance costs:
Other interest
-
0
25,427
TEALIUM LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
- 20 -
10
Taxation
2025
2024
£
£
Current tax
UK corporation tax on profits for the current period
562,093
295,509
Adjustments in respect of prior periods
-
0
419
Other taxes
-
0
3,536
Total current tax
562,093
299,464
Deferred tax
Origination and reversal of timing differences
(78,235)
150,709
Total tax charge
483,858
450,173

The actual charge for the year can be reconciled to the expected charge for the year based on the profit or loss and the standard rate of tax as follows:

2025
2024
£
£
Profit before taxation
407,547
206,597
Expected tax charge based on the standard rate of corporation tax in the UK of 25.00% (2024: 25.00%)
101,887
51,649
Tax effect of expenses that are not deductible in determining taxable profit
147,935
124,135
Change in unrecognised deferred tax assets
-
0
(2,102)
Share based payment charge
234,036
272,536
Under/(over) provided in prior years
-
0
419
Stamp duty charged
-
0
3,536
Taxation charge for the year
483,858
450,173
TEALIUM LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
- 21 -
11
Tangible fixed assets
Leasehold improvements
Fixtures and fittings
Computers
Total
£
£
£
£
Cost
At 1 January 2025
88,981
191,303
378,604
658,888
Additions
-
0
3,932
28,400
32,332
Disposals
(88,981)
(159,854)
(187,366)
(436,201)
At 31 December 2025
-
0
35,381
219,638
255,019
Depreciation and impairment
At 1 January 2025
88,981
162,699
314,329
566,009
Depreciation charged in the year
-
0
6,289
39,448
45,737
Eliminated in respect of disposals
(88,981)
(159,854)
(187,366)
(436,201)
At 31 December 2025
-
0
9,134
166,411
175,545
Carrying amount
At 31 December 2025
-
0
26,247
53,227
79,474
At 31 December 2024
-
0
28,604
64,275
92,879
12
Financial instruments
2025
2024
£
£
Carrying amount of financial assets
Debt instruments measured at amortised cost
6,436,329
5,039,669
Carrying amount of financial liabilities
Measured at amortised cost
2,172,042
1,917,617
TEALIUM LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
- 22 -
13
Debtors
2025
2024
Amounts falling due within one year:
£
£
Corporation tax recoverable
-
0
8,348
Amounts owed by group undertakings
6,366,132
4,834,036
Other debtors
132,435
307,237
Prepayments and accrued income
351,413
366,662
6,849,980
5,516,283
Deferred tax asset (note 16)
258,213
179,978
7,108,193
5,696,261
14
Creditors: amounts falling due within one year
2025
2024
Notes
£
£
Trade creditors
65,216
159,906
Corporation tax
313,746
-
0
Other taxation and social security
463,137
532,415
Deferred income
17
-
0
131,059
Other creditors
13,037
32,755
Accruals
1,870,761
1,545,534
2,725,897
2,401,669
15
Creditors: amounts falling due after more than one year
2025
2024
£
£
Other creditors
30,336
35,971
Accruals and deferred income
192,692
143,451
223,028
179,422
TEALIUM LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
- 23 -
16
Deferred taxation

The following are the major deferred tax liabilities and assets recognised by the company and movements thereon:

Assets
Assets
2025
2024
Balances:
£
£
Accelerated capital allowances
(19,869)
(23,220)
Retirement benefit obligations
8,373
7,575
Share based payments
53,055
75,952
Unpaid remuneration
216,654
119,671
258,213
179,978
2025
Movements in the year:
£
Asset at 1 January 2025
(179,978)
Credit to profit or loss
(78,235)
Asset at 31 December 2025
(258,213)

£217,706 (2024: £116,354) of the deferred tax asset set out above is expected to reverse within the next 12 months and relates to accelerated capital allowances, unpaid remuneration and retirement benefit obligations that are expected to mature within the same period.

17
Deferred income
2025
2024
£
£
Other deferred income
-
131,059
18
Retirement benefit schemes
2025
2024
Defined contribution schemes
£
£
Charge to profit or loss in respect of defined contribution schemes
369,405
386,781

The company operates a defined contribution pension scheme for all qualifying employees. The assets of the scheme are held separately from those of the company in an independently administered fund.

As at the balance sheet date, the company had an unpaid pension creditor of £72,736 (2024: £61,691).

TEALIUM LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
- 24 -
19
Share capital
2025
2024
2025
2024
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary shares of £1 each
100
100
100
100

The company has one class of ordinary shares which carry no right to fixed income.

20
Share-based payment transactions

The parent company, Tealium Inc., operates a stock option plan for its worldwide employees and certain consultants including those of Tealium Limited. During the year Tealium Inc. gifted share based payment expenses totalling £444,026, (2024: £584,499) to Tealium Limited.

The share option plan is over the common shares of the parent company. The options are available to the employees and certain consultants of Tealium Inc and its subsidiaries. The option may only be exercised by employees who remain employed by the group and consultants still providing services to the group. The option will terminate in the event of the employees leaving employment, death or termination for cause and the consultants ceasing to provide services to the group.

25% of the options will vest after 12 months, and then 1/48th of the original number of shares subject to the option shall vest on the last day of each one-month period.

In the case of refresher options granted in the prior year, the options will vest and become exercisable over a four-year period, with 1/48th of the original number of options vesting on the last day of each one-month period of the option holder's continued employment or service with the company. Therefore all of these options shall be vested on the fourth anniversary of the vesting commencement date.

The maximum term of the options granted is 10 years. On 31st January 2025, the Group initiated an amendment to the plan whereby option holders can settle expired options in cash based on the intrinsic value of the option. During the year, the company settled 29,450 options in this way which are reported as forfeited in the table below.

Number of share options
Weighted average exercise price
2025
2024
2025
2024
Number
Number
$
$
Outstanding at 1 January 2025
2,016,006
1,708,762
5.39
5.29
Granted
523,137
372,764
3.59
5.95
Forfeited
(417,777)
0
(65,520)
0
5.08
5.91
Exercised
(17,700)
0
-
0
2.23
-
0
Outstanding at 31 December 2025
2,103,666
2,016,006
4.75
5.39
Exercisable at 31 December 2025
1,305,867
1,341,359
4.85
5.02

The weighted average share price at the date of exercise for share options exercised during the year was $2.23 (2024: $nil).

The options outstanding at 31 December 2025 had an exercise price ranging from $1.65 to $7.30, (2024: $1.65 to $7.30) and a remaining contractual life of 9.83 years (2024: 9.83 years).

TEALIUM LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
20
Share-based payment transactions
(Continued)
- 25 -

Until the 31st January 2025, t he charge recognised in relation to share-based payments granted to employees and certain consultants, wa s recognised based on the fair value of the award at grant date as an expense over the period when the awards were expected to vest. The fair value at grant date wa s measured based on the market value of equity issued by the parent company. The charge wa s adjusted based on the probability of the options being exercised. The fair value at grant date wa s not subsequently adjusted. However, the expense wa s adjusted for the number of awards that were expected to vest.

After 31st January 2025, the charge recognised in relation to share-based payments granted to employees and certain consultants, is recognised as the intrinsic value of vested options in excess of the amounts recognised previously.

The charge for the period therefore includes an amount of £92,270 in respect of the change in measurement basis applied by the parent company.

The company recognises and measures its share based payment expense on the basis of a reasonable allocation of the expense for the group recognised in its consolidated accounts.

The table below sets out the inputs used in the Black-Scholes Pricing Model for the prior year measurement of grants.

Inputs were as follows:
2024
Weighted average share price
3.23
Weighted average exercise price
5.95
Expected volatility
45.55
Expected life
6.25
Risk free rate
4.06
Liabilities and expenses

During the year, the company recognised total share based payment expenses of £444,026 (2024: £584,499) which related to share based payment transactions.

21
Other reserves - capital contribution reserve
£
At 1 January 2024
3,062,814
Additions
584,499
Deferred tax
21,154
At 31 December 2024
3,668,467
Additions
444,026
At 31 December 2025
4,112,493
TEALIUM LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
- 26 -
22
Profit and loss reserves
2025
2024
£
£
At the beginning of the year
1,052,901
1,317,631
Loss for the year
(76,311)
(243,576)
Share based payment transactions - deferred tax
-
(21,154)
At the end of the year
976,590
1,052,901
23
Operating lease commitments
As lessee

At the reporting end date the company had outstanding commitments for future minimum lease payments under non-cancellable operating leases, which fall due as follows:

2025
2024
£
£
Within 1 year
501,411
319,009
Years 2-5
107,789
188,630
609,200
507,639
24
Events after the reporting date

Included in these financial statements is a provision relating to an employee settlement agreement, this matter is still ongoing at the Reporting date and will only be concluded in the future, a date after signing these accounts.

There were no further significant events after the Balance Sheet date.

25
Related party transactions
Remuneration of key management personnel

The remuneration of key management personnel is as follows.

2025
2024
£
£
Aggregate compensation
267,111
364,711
Other information

The company has taken advantage of the exemption available per paragraph 33.1A of FRS 102 whereby it has not disclosed transactions with the ultimate parent company or any wholly owned subsidiary undertaking of the group.

TEALIUM LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
- 27 -
26
Controlling party

During the year the parent company was Tealium Inc, by virtue of their 100% shareholding.

Tealium Limited is included within the consolidated accounts of Tealium Inc.

Tealium Inc. is a company registered in the U.S.A, the registered address is:11095 Torreyana Road, San Diego, CA92121.

27
Analysis of changes in net funds
1 January 2025
Cash flows
31 December 2025
£
£
£
Cash at bank and in hand
1,513,419
(662,978)
850,441
28
Cash (absorbed by)/generated from operations
2025
2024
£
£
Loss for the year after tax
(76,311)
(243,576)
Adjustments for:
Taxation charged
483,858
450,173
Finance costs
-
0
25,427
Investment income
(6)
-
0
Depreciation and impairment of tangible fixed assets
45,737
47,474
Share based payment expense
444,026
584,499
Movements in working capital:
Decrease / (increase) in debtors
(1,342,045)
1,020,906
Increase/(decrease) in creditors
185,147
(579,989)
Decrease in deferred income
(131,059)
(25,511)
Cash (absorbed by)/generated from operations
(390,653)
1,279,403
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