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REGISTERED NUMBER: 00365565 (England and Wales)

| Report of the Director and |

| Financial Statements |

| for the Year Ended 31 December 2025 |

| for |

| Osborn-Unipol (UK) Limited |

| Osborn-Unipol (UK) Limited (Registered number: 00365565) |

Contents of the Financial Statements

for the Year Ended 31 December 2025

Page |

| Company Information | 1 |

| Report of the Director | 2 |

| Report of the Independent Auditors | 4 |

| Income Statement | 8 |

| Other Comprehensive Income | 9 |

| Balance Sheet | 10 |

| Statement of Changes in Equity | 11 |

| Notes to the Financial Statements | 12 |

| Osborn-Unipol (UK) Limited |

Company Information

for the Year Ended 31 December 2025

| DIRECTOR: | S Pereira

| SECRETARY: | Mrs L Painter

| REGISTERED OFFICE: | Unit A2

| Newhouse Farm Industrial Estate

| Chepstow

| Monmouthshire

| NP16 6UD

| REGISTERED NUMBER: | 00365565 (England and Wales)

| Osborn-Unipol (UK) Limited (Registered number: 00365565) |

Report of the Director

for the Year Ended 31 December 2025

The director presents his report with the financial statements of the company for the year ended 31 December 2025.

PRINCIPAL ACTIVITY

The principal activity of the company in the year under review was that of distribution of industrial brushes, load runners, polishing and abrasive materials.

DIRECTOR

S Pereira held office during the whole of the period from 1 January 2025 to the date of this report.

FINANCIAL RISK MANAGEMENT

The Company's operations expose it to a variety of financial risks that include credit risk, liquidity risk and interest rate risk.

Credit risk

The company's credit risk is principally attributed to its trade debtors. The company has implemented policies that require appropriate credit checks on potential customers before sales are made.

Liquidity risk

The company actively maintains short-term debt finance that is designed to ensure that the company has sufficient available funds for operations and planned expansions. The company is using a line of credit which is shared with other UK entities of the group.

Interest rate risk

The company has a policy of maintaining debt at variable rates. The directors will revisit the appropriateness of this policy should the company's operations change in size or nature.

DIRECTOR'S INDEMNITIES

As permitted by the Articles of Association, the directors have the benefit of an indemnity which is a qualifying third party indemnity provision as defined by Section 234 of the Companies Act 2006. The indemnity was in force throughout the last financial year and is currently in force. The company also purchased and maintained throughout the financial year Directors' and Officers' liability insurance in respect of itself and its directors.

STATEMENT OF DIRECTOR'S RESPONSIBILITIES

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

Company law requires the director to prepare financial statements for each financial year. Under that law the director has elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the director must not approve the financial statements unless he is satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing these financial statements, the director is required to:

- | select suitable accounting policies and then apply them consistently;

- | make judgements and accounting estimates that are reasonable and prudent;

- | prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.

The director is responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable him to ensure that the financial statements comply with the Companies Act 2006. He is also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

STATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDITORS

So far as the director is aware, there is no relevant audit information (as defined by Section 418 of the Companies Act 2006) of which the company's auditors are unaware, and he has taken all the steps that he ought to have taken as a director in order to make himself aware of any relevant audit information and to establish that the company's auditors are aware of that information.

| Osborn-Unipol (UK) Limited (Registered number: 00365565) |

Report of the Director

for the Year Ended 31 December 2025

AUDITORS

The auditors, Sumer Auditco Limited, will be proposed for re-appointment at the forthcoming Annual General Meeting.

This report has been prepared in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

ON BEHALF OF THE BOARD:

S Pereira - Director

15 April 2026

Report of the Independent Auditors to the Members of

Osborn-Unipol (UK) Limited

Opinion

We have audited the financial statements of Osborn-Unipol (UK) Limited (the 'company') for the year 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 year then ended;

- | have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and

- | have been prepared in accordance with the requirements of the Companies Act 2006.

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the director's use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

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

Other information

The director is responsible for the other information. The other information comprises the information in the Report of the Director, 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 materially inconsistent with the financial statements or our knowledge obtained in 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 the audit:

- | the information given in the Report of the Director for the financial year for which the financial statements are prepared is consistent with the financial statements; and

- | the Report of the Director has been prepared in accordance with applicable legal requirements.

Report of the Independent Auditors to the Members of

Osborn-Unipol (UK) Limited

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 material misstatements in the Report of the Director.

We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion:

- | adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or

- | the financial statements are not in agreement with the accounting records and returns; or

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

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

- | the director was not entitled to take advantage of the small companies' exemption from the requirement to prepare a Strategic Report or in preparing the Report of the Director.

Responsibilities of director

As explained more fully in the Statement of Director's Responsibilities set out on page two, the director is responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the director determines necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the director is responsible for assessing the company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the director either intends to liquidate the company or to cease operations, or has no realistic alternative but to do so.

Report of the Independent Auditors to the Members of

Osborn-Unipol (UK) Limited

Auditors' responsibilities for the audit of the financial statements

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue a Report of the Auditors that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

Based on our understanding of the Company and industry, we identified that the principal risks of non-compliance with laws and regulations related to health and safety, employment law and company legislation, and we considered the extent to which non-compliance might have a material effect on the financial statements of the Company. We also considered those laws and regulations that have a direct impact on the preparation of the financial statements such as the Companies Act 2006 and taxation legislation. We evaluated management's incentives and opportunities for fraudulent manipulation of the financial statements (including the risk of override of controls), and determined that the principal risks were related to posting inappropriate journal entries to increase revenue or reduce expenditure, and management bias in accounting estimates and judgemental areas of the financial statements. Audit procedures performed by the audit engagement team included:

- Discussions with management, including consideration of known or suspected instances of non-compliance with laws and regulations and fraud;

- Understanding of management's internal controls designed to prevent and detect irregularities, and fraud;

- Reviewing the Company's legal costs to check for non-compliance with laws and regulations and fraud;

- Review of tax compliance with the involvement of our tax specialists in the audit;

- Designing audit procedures to incorporate unpredictability around the nature, timing or extent of our testing;

- Testing transactions entered into outside of the normal course of the Company's business; and

- Identifying and testing journal entries, in particular any journal entries with fraud characteristics.

There are inherent limitations in the audit procedures described above and the further removed non-compliance with laws and regulations is from the events and transactions reflected in the financial statements, the less likely we would become aware of it. Also, the risk of not detecting a material misstatement due to fraud is higher than the risk of not detecting one resulting from error, as fraud may involve deliberate concealment by, for example, forgery or intentional misrepresentations, or through collusion.

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

Osborn-Unipol (UK) Limited

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.

David Black (Senior Statutory Auditor)

for and on behalf of Sumer Auditco Limited

Statutory Auditors

Hermes House

Fire Fly Avenue

Swindon

Wiltshire

SN2 2GA

16 April 2026

| Osborn-Unipol (UK) Limited (Registered number: 00365565) |

Income Statement

for the Year Ended 31 December 2025

| 2025 | 2024 |

| Notes | £'000 | £'000 | £'000 | £'000 |

TURNOVER | 3 | 2,399 |  | 2,406 |  |

Cost of sales | 1,159 |  | 1,133 |  |

GROSS PROFIT | 1,240 |  | 1,273 |  |

Distribution costs | 520 |  | 576 |  |

Administrative expenses | 667 |  | 610 |  |

|  | 1,187 |  |  |  | 1,186 |  |

OPERATING PROFIT | 5 | 53 |  | 87 |  |

Other finance income | 16 | 63 |  | 45 |  |

PROFIT BEFORE TAXATION | 116 |  | 132 |  |

Tax on profit | 6 | (32 | ) | (33 | ) |

PROFIT FOR THE FINANCIAL YEAR | 148 |  | 165 |  |

| Osborn-Unipol (UK) Limited (Registered number: 00365565) |

Other Comprehensive Income

for the Year Ended 31 December 2025

| 2025 |  | 2024

| Notes | £'000 | £'000 |

PROFIT FOR THE YEAR | 148 |  | 165 |  |

OTHER COMPREHENSIVE INCOME |

Remeasurement of net defined benefit | 54 |  | (4 | ) |

asset

Income tax relating to other comprehensive income | (20 | ) | (43 | ) |

OTHER COMPREHENSIVE INCOME FOR THE YEAR, NET OF INCOME TAX | 34 |  | (47 | ) |

TOTAL COMPREHENSIVE INCOME FOR THE YEAR | 182 |  | 118 |  |

| Osborn-Unipol (UK) Limited (Registered number: 00365565) |

Balance Sheet

31 December 2025

| 2025 | 2024 |

| Notes | £'000 | £'000 | £'000 | £'000 |

FIXED ASSETS

Intangible assets | 7 | - |  | - |  |

Tangible assets | 8 | 6 |  | 6 |  |

6 |  | 6 |  |

CURRENT ASSETS

Stocks | 9 | 266 |  | 223 |  |

Debtors | 10 | 412 |  | 517 |  |

Cash at bank | 782 |  | 652 |  |

1,460 |  | 1,392 |  |

CREDITORS

Amounts falling due within one year | 11 | 368 |  | 364 |  |

NET CURRENT ASSETS | 1,092 |  | 1,028 |  |

TOTAL ASSETS LESS CURRENT LIABILITIES | 1,098 |  | 1,034 |  |

PENSION ASSET | 16 | 1,254 |  | 1,136 |  |

NET ASSETS | 2,352 |  | 2,170 |  |

CAPITAL AND RESERVES

Called up share capital | 14 | 901 |  | 901 |  |

Retained earnings | 15 | 1,451 |  | 1,269 |  |

SHAREHOLDERS' FUNDS | 2,352 |  | 2,170 |  |

The financial statements were approved by the director and authorised for issue on 15 April 2026 and were signed by:

S Pereira - Director

| Osborn-Unipol (UK) Limited (Registered number: 00365565) |

Statement of Changes in Equity

for the Year Ended 31 December 2025

| Called up |

| share |  | Retained |  | Total

| capital |  | earnings |  | equity

£'000 | £'000 | £'000 |

Balance at 1 January 2024 | 901 |  | 1,151 |  | 2,052 |  |

Changes in equity

Total comprehensive income | - |  | 118 |  | 118 |  |

Balance at 31 December 2024 | 901 |  | 1,269 |  | 2,170 |  |

Changes in equity

Total comprehensive income | - |  | 182 |  | 182 |  |

Balance at 31 December 2025 | 901 |  | 1,451 |  | 2,352 |  |

| Osborn-Unipol (UK) Limited (Registered number: 00365565) |

Notes to the Financial Statements

for the Year Ended 31 December 2025

1. | STATUTORY INFORMATION

| Osborn-Unipol (UK) Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

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 preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgement in applying the company's accounting policies.

| The following principal accounting policies have been applied consistently throughout the year.

| Going Concern

| The company meets its day-to-day working capital requirements through its cash reserves and borrowings. The current economic conditions continue to create uncertainty particularly over the level of demand for the company's products.

| The company's forecasts and projections, taking account of reasonable possible changes in trading performance, show that the company should be able to operate within the level of its current cash reserves and borrowings. The directors have reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. The company therefore continues to adopt the going concern basis in preparing its financial statements.

| Financial Reporting Standard 102 - reduced disclosure exemptions

| The company has taken advantage of the following disclosure exemptions in preparing these financial statements, as permitted by FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland":

| • | the requirements of Section 7 Statement of Cash Flows;

| • | the requirement of paragraph 3.17(d);

| • | the requirements of paragraphs 11.42, 11.44, 11.45, 11.47, 11.48(a)(iii), 11.48(a)(iv), 11.48(b) and 11.48(c);

| • | the requirements of paragraphs 12.26, 12.27, 12.29(a), 12.29(b) and 12.29A;

| • | the requirement of paragraph 33.7.

| This information is included in the consolidated financial statements of Jason Industries Inc. as at 31 December 2025 and these financial statements may be obtained from 833 East Michigan Street, Suite 900, Milwaukee, WI 53202, United States.

| Osborn-Unipol (UK) Limited (Registered number: 00365565) |

Notes to the Financial Statements - continued

for the Year Ended 31 December 2025

2. | ACCOUNTING POLICIES - continued

| Turnover

| Revenue is recognised to the extent that it is probable that the economic benefits will flow to the company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

| Sale of goods

| Revenue from the sale of goods is recognised when all of the following conditions are satisfied:

| - |  | the company has transferred the significant risks and rewards of ownership to the buyer; |  |

| - |  | the company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold; |  |

| - |  | the amount of revenue can be measured reliably; |  |

| - |  | it is probable that the company will receive the consideration due under the transaction; and |  |

| - |  | the costs incurred or to be incurred in respect of the transaction can be measured reliably |  |

| Goodwill

| Goodwill represents the difference between amounts paid on the cost of a business combination and the acquirer's interest in the fair value of its identifiable assets and liabilities of the acquiree at the date of acquisition. Subsequent to initial recognition, Goodwill is measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is amortised on a straight line basis to the Statement of Comprehensive Income over its useful economic life.

| Tangible fixed assets

| Tangible assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

| Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight line method.

| Depreciation is provided on the following basis:

| Plant and machinery |  | 5 to 20 years |  |

| Fixtures and fittings |  | 5 to 10 years |  |

| Computer equipment |  | 3 years |  |

| Motor vehicles |  | 2 years |  |

| The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

| Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in the Statement of Comprehensive Income.

| Stocks

| Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads.

| At each balance sheet date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

| Osborn-Unipol (UK) Limited (Registered number: 00365565) |

Notes to the Financial Statements - continued

for the Year Ended 31 December 2025

2. | ACCOUNTING POLICIES - continued

| Financial instruments

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

| Debt instruments (other than those wholly repayable or receivable within one year), including loans and other accounts receivable and payable, are initially measured at present value of the future cash flows and subsequently at amortised cost using the effective interest method. Debt instruments that are payable or receivable within one year, typically trade debtors and creditors, are measured, initially and subsequently, at the undiscounted amount of the cash or other consideration expected to be paid or received. However, if the arrangements of a short-term instrument constitute a financing transaction, like the payment of a trade debt deferred beyond normal business terms or financed at a rate of interest that is not a market rate or in the case of an out-right short-term loan not at market rate, the financial asset or liability is measured, initially, at the present value of the future cash flow discounted at a market rate of interest for a similar debt instrument and subsequently at amortised cost.

| Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the Statement of Comprehensive Income.

| For financial assets measured at amortised cost, the impairment loss is measured as the difference between an asset's carrying amount and the present value of estimated cash flows discounted at the asset's original effective interest rate. If a financial asset has a variable interest rate, the discount rate for measuring any impairment loss is the current effective interest rate determined under the contract.

| For financial assets measured at cost less impairment, the impairment loss is measured as the difference between an asset's carrying amount and best estimate of the recoverable amount, which is an approximation of the amount that the company would receive for the asset if it were to be sold at the balance sheet date.

| Financial assets and liabilities are offset and the net amounts reported in the Balance Sheet when there is an enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

| Taxation

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

| Current or deferred taxation assets and liabilities are not discounted.

| Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

| Deferred tax

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

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

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

| Osborn-Unipol (UK) Limited (Registered number: 00365565) |

Notes to the Financial Statements - continued

for the Year Ended 31 December 2025

2. | ACCOUNTING POLICIES - continued

| Functional and presentation currency

| The company's functional and presentational currency is GBP.

| Transactions and balances

| Foreign currency transactions are translated into the functional currency using the spot rate exchange rates at the dates of the transactions.

| At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.

| Foreign exchange gains and losses resulting from the settlement of transactions and from the translation at period-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in the Statement of Comprehensive Income except when deferred in other comprehensive income as qualifying cash flow hedges.

| Foreign exchange gains and losses that relate to borrowings and cash and cash equivalents are presented in the Statement of Comprehensive Income within 'finance income or costs'. All other foreign exchange gains and losses are presented in the Statement of Comprehensive Income within 'other operating income'.

| Osborn-Unipol (UK) Limited (Registered number: 00365565) |

Notes to the Financial Statements - continued

for the Year Ended 31 December 2025

2. | ACCOUNTING POLICIES - continued

| Pension costs and other post-retirement benefits

| Defined contribution pension plan

| The company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the company pays fixed contributions into a separate entity. Once the contributions have been paid the company has no further payment obligations.

| The contributions are recognised as an expense in the Statement of Comprehensive Income when they fall due. Amounts not paid are shown in accruals as a liability in the Balance Sheet. The assets of the plan are held separately from the company in independently administered funds.

| Defined benefit pension plan

| The company operates a defined benefit plan for certain employees. A defined benefit plan defines the pension benefit that the employee will receive on retirement, usually dependent upon several factors including but not limited to age, length of service and remuneration. A defined benefit plan is a pension plan that is not a defined contribution plan.

| The liability recognised in the Balance Sheet in respect of the defined benefit plan is the present value of the defined benefit obligation at the end of the balance sheet date less the fair value of plan assets at the balance sheet date (if any) out of which the obligations are to be settled.

| The defined benefit obligation is calculated using the projected unit credit method. Annually the company engages independent actuaries to calculate the obligation. The present value is determined by discounting the estimated future payments using market yields on high quality corporate bonds that are denominated in sterling and that have terms approximating to the estimated period of the future payments ('discount rate').

| The fair value of plan assets is measured in accordance with the FRS 102 fair value hierarchy and in accordance with the company's policy for similarly held assets. This includes the use of appropriate valuation techniques.

| Actuarial gains and losses arising from experience adjustments and changes in actuarial assumptions are charged or credited to other comprehensive income. These amounts together with the return on plan assets, less amounts included in net interest, are disclosed as 'Remeasurement of net defined benefit liability'.

| The cost of the defined benefit plan, recognised in the Statement of Comprehensive Income as employee costs, except where included in the cost of an asset, comprises:

| a) the increase in net pension benefit liability arising from employee service during the period; and

| b) the cost of plan introductions, benefit changes, curtailments and settlements.

| The net interest cost is calculated by applying the discount rate to the net balance of the defined benefit obligation and the fair value of plan assets. This cost is recognised in the Statement of Comprehensive Income as a 'finance expense'.

| Osborn-Unipol (UK) Limited (Registered number: 00365565) |

Notes to the Financial Statements - continued

for the Year Ended 31 December 2025

2. | ACCOUNTING POLICIES - continued

| Debtors

| Short term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

| Cash and cash equivalents

| Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

| Creditors

| Short term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

| Finance costs

| Finance costs are charged to the Statement of Comprehensive Income over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

| Interest income

| Interest income is recognised in the Statement of Comprehensive Income using the effective interest method.

| Provision for liabilities

| Provisions are made where an event has taken place that gives the company a legal or constructive obligation that probably requires settlement by a transfer of economic benefit, and a reliable estimate can be made of the amount of the obligation.

| Provisions are charged as an expense to the Statement of Comprehensive Income in the year that the company becomes aware of the obligation, and are measured at the best estimate at the Balance Sheet date of the expenditure required to settle the obligation, taking into account relevant risks and uncertainties.

| When payments are eventually made, they are charged to the provision carried in the Balance Sheet.

3. | TURNOVER

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

| An analysis of turnover by geographical market is given below:

| 2025 |  | 2024

£'000 | £'000 |

| United Kingdom | 2,333 |  | 2,360 |  |

| Europe | 66 |  | 45 |  |

| Rest of the world | - |  | 1 |  |

2,399 |  | 2,406 |  |

| Osborn-Unipol (UK) Limited (Registered number: 00365565) |

Notes to the Financial Statements - continued

for the Year Ended 31 December 2025

4. | EMPLOYEES AND DIRECTORS

|  | 2025 |  |  | 2024 |  |

|  | £'000 |  |  | £'000 |  |

| Wages and salaries |  | 346 |  |  | 295 |  |

| Social Security costs |  | 33 |  |  | 36 |  |

| Other pension costs |  | 56 |  |  | 68 |  |

|  | 435 |  |  | 399 |  |

|  | 2025 |  |  | 2024 |  |

|  | £'000 |  |  | £'000 |  |

| Directors' remuneration |  | - |  |  | - |  |

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

|  | 2025 |  |  | 2024 |  |

| Production |  | 2 |  |  | 2 |  |

| Management and administration |  | 6 |  |  | 6 |  |

|  | 8 |  |  | 8 |  |

5. | OPERATING PROFIT

| The operating profit is stated after charging:

| 2025 |  | 2024

£'000 | £'000 |

| Depreciation - owned assets | 2 |  | 2 |  |

| Foreign exchange differences | 5 |  | 3 |  |

| Operating leases | 122 |  | 119 |  |

6. | TAXATION

| Analysis of the tax credit

| The tax credit on the profit for the year was as follows:

| 2025 |  | 2024

£'000 | £'000 |

| Deferred tax | (32 | ) | (33 | ) |

| Tax on profit | (32 | ) | (33 | ) |

| UK corporation tax was charged at 25%) in 2024.

| Osborn-Unipol (UK) Limited (Registered number: 00365565) |

Notes to the Financial Statements - continued

for the Year Ended 31 December 2025

6. | TAXATION - continued

| Reconciliation of total tax credit included in profit and loss

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

| 2025 |  | 2024

£'000 | £'000 |

| Profit before tax | 116 |  | 132 |  |

| Profit multiplied by the standard rate of corporation tax in the UK of 25% (2024 - 25%) | 29 |  | 33 |  |

| Effects of:

| Expenses not deductible for tax purposes | (2 | ) | 1 |  |

| Capital allowances in excess of depreciation | (17 | ) | (22 | ) |

| Utilisation of tax losses | 60 |  | 55 |  |

| Defined benefit pension contributions adjustment | (70 | ) | (67 | ) |

| Deferred tax - other timing differences | (32 | ) | (33 | ) |

| Total tax credit | (32 | ) | (33 | ) |

| Tax effects relating to effects of other comprehensive income |

| 2025 |

| Gross |  | Tax |  | Net |

£'000 | £'000 | £'000 |

| Remeasurement of net defined benefit | 54 |  | (20 | ) | 34 |  |

| asset

54 |  | (20 | ) | 34 |  |

| 2024 |

| Gross |  | Tax |  | Net |

£'000 | £'000 | £'000 |

| Remeasurement of net defined benefit | (4 | ) | (43 | ) | (47 | ) |

| liability

(4 | ) | (43 | ) | (47 | ) |

7. | INTANGIBLE FIXED ASSETS

| Goodwill

£'000 |

| COST

| At 1 January 2025

| and 31 December 2025 | 824 |  |

| AMORTISATION

| At 1 January 2025

| and 31 December 2025 | 824 |  |

| NET BOOK VALUE

| At 31 December 2025 | - |  |

| At 31 December 2024 | - |  |

| Osborn-Unipol (UK) Limited (Registered number: 00365565) |

Notes to the Financial Statements - continued

for the Year Ended 31 December 2025

8. | TANGIBLE FIXED ASSETS

| Fixtures |

| Plant and |  | and |  | Computer |

| machinery |  | fittings |  | equipment |  | Totals

£'000 | £'000 | £'000 | £'000 |

| COST

| At 1 January 2025 | 21 |  | 126 |  | 101 |  | 248 |  |

| Additions | - |  | - |  | 2 |  | 2 |  |

| At 31 December 2025 | 21 |  | 126 |  | 103 |  | 250 |  |

| DEPRECIATION

| At 1 January 2025 | 19 |  | 126 |  | 97 |  | 242 |  |

| Charge for year | 1 |  | - |  | 1 |  | 2 |  |

| At 31 December 2025 | 20 |  | 126 |  | 98 |  | 244 |  |

| NET BOOK VALUE

| At 31 December 2025 | 1 |  | - |  | 5 |  | 6 |  |

| At 31 December 2024 | 2 |  | - |  | 4 |  | 6 |  |

9. | STOCKS

2025 | 2024 |

£'000 | £'000 |

| Finished goods | 266 |  | 223 |  |

| The value of stocks is not considered to be materially different from their replacement cost.

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

2025 | 2024 |

£'000 | £'000 |

| Trade debtors | 330 |  | 454 |  |

| Amounts owed by group undertakings | 3 |  | - |  |

| Deferred tax asset | 65 |  | 52 |  |

| Prepayments and accrued income | 14 |  | 11 |  |

412 |  | 517 |  |

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

2025 | 2024 |

£'000 | £'000 |

| Trade creditors | 73 |  | 71 |  |

| Amounts owed to group undertakings | 149 |  | 146 |  |

| Social security and other taxes | 76 |  | 96 |  |

| Accruals and deferred income | 70 |  | 51 |  |

368 |  | 364 |  |

| Osborn-Unipol (UK) Limited (Registered number: 00365565) |

Notes to the Financial Statements - continued

for the Year Ended 31 December 2025

12. | LEASING AGREEMENTS

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

2025 | 2024 |

£'000 | £'000 |

| Within one year | 139 |  | 90 |  |

| Between one and five years | 198 |  | 440 |  |

337 |  | 530 |  |

13. | DEFERRED TAX

£'000 |

| Balance at 1 January 2025 | (52 | ) |

| Provided during year | (13 | ) |

| Balance at 31 December 2025 | (65 | ) |

14. | CALLED UP SHARE CAPITAL

| Allotted, issued and fully paid:

| Number: | Class: | Nominal | 2025 | 2024 |

| value: | £'000 | £'000 |

| 901,465 | Ordinary | £1 | 901 |  | 901 |  |

15. | RESERVES

| Retained

| earnings

£'000 |

| At 1 January 2025 | 1,269 |  |

| Profit for the year | 148 |  |

| Remeasurement of net defined benefit obligation | 64 |  |

| Deffered tax on pension liability | (30 | ) |

| At 31 December 2025 | 1,451 |  |

16. | EMPLOYEE BENEFIT OBLIGATIONS

| Due to change in pension legislation a money purchase pension plan was set up in April 1996 giving all new and existing employees who were not in the final salary scheme the opportunity to become members. The plan is a defined contribution scheme with contributions being charged to the Statement of Comprehensive Income on an actual basis. On 1 January 2004 a new group personal pension defined contribution scheme was established and the funds from the previous scheme were transferred to the new scheme.

| Contributions to the defined contribution scheme by the company for the year amounted to £56,249 (2024 - £68,485).

| The company operates a Defined Benefit Pension Scheme.

| This scheme provides benefits on final pensionable pay and was closed to new members from 1 April 1996.

| An actuarial valuation was carried out at 31 December 2025 by a qualified independent actuary.

| The amounts recognised in profit or loss are as follows:

| Osborn-Unipol (UK) Limited (Registered number: 00365565) |

Notes to the Financial Statements - continued

for the Year Ended 31 December 2025

16. | EMPLOYEE BENEFIT OBLIGATIONS - continued

| Defined benefit |

| pension plans |

2025 | 2024 |

£'000 | £'000 |

| Current service cost | 13 |  | 14 |  |

| Net interest from net defined benefit asset/liability | (63 | ) | (45 | ) |

| Past service cost | - |  | - |  |

(50 | ) | (31 | ) |

| Actual return on plan assets | 275 |  | (165 | ) |

| Changes in the present value of the defined benefit obligation are as follows:

| Defined benefit |

| pension plans |

2025 | 2024 |

£'000 | £'000 |

| Opening defined benefit obligation | 3,644 |  | 4,069 |  |

| Current service cost | 13 |  | 14 |  |

| Contributions by scheme participants | 4 |  | 4 |  |

| Interest cost | 188 |  | 180 |  |

| Actuarial losses/(gains) | (30 | ) | (386 | ) |

| Benefits paid | (213 | ) | (237 | ) |

3,606 |  | 3,644 |  |

| Changes in the fair value of scheme assets are as follows:

| Defined benefit |

| pension plans |

2025 | 2024 |

£'000 | £'000 |

| Opening fair value of scheme assets | 4,780 |  | 5,034 |  |

| Contributions by employer | 14 |  | 144 |  |

| Contributions by scheme participants | 4 |  | 4 |  |

| Expected return | 268 |  | 225 |  |

| Actuarial gains/(losses) | 7 |  | (390 | ) |

| Benefits paid | (213 | ) | (237 | ) |

4,860 |  | 4,780 |  |

| The amounts recognised in other comprehensive income are as follows:

| Defined benefit |

| pension plans |

2025 | 2024 |

£'000 | £'000 |

| Actuarial gains/(losses) | 37 |  | (4 | ) |

37 |  | (4 | ) |

| Osborn-Unipol (UK) Limited (Registered number: 00365565) |

Notes to the Financial Statements - continued

for the Year Ended 31 December 2025

16. | EMPLOYEE BENEFIT OBLIGATIONS - continued

| The major categories of scheme assets as a percentage of total scheme assets are as follows:

| Defined benefit |

| pension plans |

2025 | 2024 |

| Equities | 25.80% | 25.80% |

| Bonds | 37.10% | 36.40% |

| Corporate bonds | 27.90% | 28.20% |

| Cash | 3.40% | 3.80% |

| Liability driven investment | 5.80% | 5.80% |

100.00% | 100.00% |

| Principal actuarial assumptions at the balance sheet date (expressed as weighted averages):

2025 | 2024 |

| Discount rate | 5.35% | 5.35% |

| Future salary increases | 3.45% | 3.85% |

| Future pension increases | 2.45% | 2.80% |

| RPI inflation | 2.90% | 3.35% |

17. | ULTIMATE PARENT UNDERTAKING AND CONTROLLING PARTY

| The immediate parent undertaking is Jason Milwaukee Ireland Limited, a company incorporated in Ireland. The directors consider the ultimate parent undertaking and controlling party to be Jason Industries Inc., a company registered in the U.S.A, which is the smallest and largest group to consolidate these financial statements. Copies of these financial statements are available from 833 East Michigan Street, Suite 900, Milwaukee, WI 53202, United States.

18. | OTHER FINANCIAL COMMITMENTS

| The Company is party to unlimited multilateral guarantee with certain fellow group companies in connection with group banking facilities. This arrangement includes fixed and first floating charge over the company's assets.

19. | RELATED PARTY DISCLOSURES

| The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.