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REGISTERED NUMBER: 08073007 (England and Wales)

| FINANCIAL STATEMENTS |

| FOR THE YEAR ENDED 31 DECEMBER 2025 |

| FOR |

| NORTAL UK LIMITED |

| NORTAL UK LIMITED (REGISTERED NUMBER: 08073007) |

CONTENTS OF THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2025

Page |

| Company Information | 1 |

| Balance Sheet | 2 |

| Notes to the Financial Statements | 3 |

| NORTAL UK LIMITED |

COMPANY INFORMATION

FOR THE YEAR ENDED 31 DECEMBER 2025

| DIRECTORS: | A Krull

| N B J Washer

| REGISTERED OFFICE: | The Engine Room

| 18 The Power Station

| London

| SW11 8BZ

| REGISTERED NUMBER: | 08073007 (England and Wales)

| AUDITORS: | Galloways Accounting

| Statutory Auditor

| 15 West Street

| Brighton

| East Sussex

| BN1 2RL

| NORTAL UK LIMITED (REGISTERED NUMBER: 08073007) |

BALANCE SHEET

31 DECEMBER 2025

| 2025 |  | 2024

| Notes | £ | £ |

FIXED ASSETS

Intangible assets | 4 | 46,875 |  | - |  |

Tangible assets | 5 | 16,323 |  | 15,126 |  |

63,198 |  | 15,126 |  |

CURRENT ASSETS

Debtors | 6 | 1,818,993 |  | 2,154,507 |  |

Cash at bank | 273,529 |  | 1,915,210 |  |

2,092,522 |  | 4,069,717 |  |

CREDITORS

Amounts falling due within one year | 7 | (520,120 | ) | (1,986,411 | ) |

NET CURRENT ASSETS | 1,572,402 |  | 2,083,306 |  |

TOTAL ASSETS LESS CURRENT LIABILITIES | 1,635,600 |  | 2,098,432 |  |

PROVISIONS FOR LIABILITIES | - |  | (3,782 | ) |

NET ASSETS | 1,635,600 |  | 2,094,650 |  |

CAPITAL AND RESERVES

Called up share capital | 8 | 300 |  | 300 |  |

Share premium | 3,520 |  | 3,520 |  |

Other reserves | 2,760 |  | - |  |

Retained earnings | 1,629,020 |  | 2,090,830 |  |

SHAREHOLDERS' FUNDS | 1,635,600 |  | 2,094,650 |  |

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

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

The financial statements were approved by the Board of Directors and authorised for issue on 24 March 2026 and were signed on its behalf by:

A Krull - Director

| NORTAL UK LIMITED (REGISTERED NUMBER: 08073007) |

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2025

1. | STATUTORY INFORMATION

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

| The presentation currency of the financial statements is the Pound Sterling (£) and have been rounded to the nearest pound.

2. | ACCOUNTING POLICIES

| Basis of preparing the financial statements

| These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

| Going concern

| The directors have prepared forecasts which reflect management's plans and the operating environment in order for them to assess the company's ability to continue as a going concern. Following their assessment, the directors have satisfied themselves that the company will remain a going concern for the foreseeable future and the financial statements are appropriately prepared on a going concern basis.

| Comparative period

| During the prior year the company changed its accounts reference date from 31 May to 31 December to align with the new parent company's accounting reference date. Consequently, the current period profit and loss represents a 12 month period 31 December 2025 and the comparatives are for 7 month period from 1 June 2024 to 31 December 2024. .

| Related party exemption

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

| Turnover

| Turnover represents the fair value of consideration received or receivable in relation to consultancy services, excluding discounts, rebates or value added tax. Turnover is recognised to the extent that there is a right to consideration. Where a contract has only been partially completed at the balance sheet date, turnover represents the fair value of the service provided to date, in accordance with the terms of the contract.

| Intangible assets

| Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

| Patents and licences currently represents a a domain name assessed to have a indefinite life. As such, patents and licences are not currently being amortised.

| Tangible fixed assets

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

| Plant and machinery | - | 20% on reducing balance

| Computer equipment | - | 25% on cost

| Tangible fixed assets are stated at cost (or deemed cost) or valuation less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended.

| NORTAL UK LIMITED (REGISTERED NUMBER: 08073007) |

NOTES TO THE FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 31 DECEMBER 2025

2. | ACCOUNTING POLICIES - continued

| Financial instruments

| Basic financial assets

| Basic financial assets, which include debtors and cash and cash equivalents, 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. Amortised cost is determined as being the transaction price less any amounts settled and any impairment losses. Financial assets classified as receivable within one year are not amortised.

| A provision for impairment of debtors is established when there is objective evidence that the amounts due will not be collected according to the original terms of the contract. Impairment losses are recognised in profit or loss for the excess of the carrying value of the trade debtor over the present value of the future cash flows discounted using the original effective interest rate. Subsequent reversals of an impairment loss that objectively relate to an event occurring after the impairment loss was recognised, are recognised immediately in profit or loss.

| Basic financial liabilities

| Basic financial liabilities, including trade, group and other creditors (including accruals) payable are initially measured at the transaction price and subsequently measured at amortised cost unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as receivable within one year are not amortised.

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

| Taxation

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

| Foreign currencies

| Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

| Hire purchase and leasing commitments

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

| Pension costs and other post-retirement benefits

| The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. | EMPLOYEES AND DIRECTORS

| The average number of employees during the year was 17 (2024 - 17 ) .

| NORTAL UK LIMITED (REGISTERED NUMBER: 08073007) |

NOTES TO THE FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 31 DECEMBER 2025

4. | INTANGIBLE FIXED ASSETS

| Patents

| and

| licences

£ |

| COST

| Additions | 46,875 |  |

| At 31 December 2025 | 46,875 |  |

| NET BOOK VALUE

| At 31 December 2025 | 46,875 |  |

5. | TANGIBLE FIXED ASSETS

| Plant and |  | Computer |

| machinery |  | equipment |  | Totals

£ | £ | £ |

| COST

| At 1 January 2025 | 1,005 |  | 45,237 |  | 46,242 |  |

| Additions | - |  | 7,082 |  | 7,082 |  |

| At 31 December 2025 | 1,005 |  | 52,319 |  | 53,324 |  |

| DEPRECIATION

| At 1 January 2025 | 295 |  | 30,821 |  | 31,116 |  |

| Charge for year | 214 |  | 5,671 |  | 5,885 |  |

| At 31 December 2025 | 509 |  | 36,492 |  | 37,001 |  |

| NET BOOK VALUE

| At 31 December 2025 | 496 |  | 15,827 |  | 16,323 |  |

| At 31 December 2024 | 710 |  | 14,416 |  | 15,126 |  |

6. | DEBTORS

2025 | 2024 |

£ | £ |

| Amounts falling due within one year:

| Trade debtors | 624,612 |  | 1,340,257 |  |

| Amounts owed by group undertakings | 300,157 |  | - |  |

| Amounts recoverable on contract | 266,475 |  | 772,990 |  |

| Other debtors | 594,412 |  | 41,260 |  |

1,785,656 |  | 2,154,507 |  |

| Amounts falling due after more than one year:

| Other debtors | 33,337 |  | - |  |

| Aggregate amounts | 1,818,993 |  | 2,154,507 |  |

| NORTAL UK LIMITED (REGISTERED NUMBER: 08073007) |

NOTES TO THE FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 31 DECEMBER 2025

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

2025 | 2024 |

£ | £ |

| Trade creditors | 205,491 |  | 302,898 |  |

| Amounts owed to group undertakings | 25,588 |  | 38,821 |  |

| Taxation and social security | 217,705 |  | 1,307,388 |  |

| Other creditors | 71,336 |  | 337,304 |  |

520,120 |  | 1,986,411 |  |

8. | CALLED UP SHARE CAPITAL

| Allotted, issued and fully paid:

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

| value: | £ | £ |

| 227 | Ordinary A | 1 | 227 |  | 227 |  |

| 58 | Ordinary B | 1 | 58 |  | 58 |  |

| 15 | Ordinary C | 1 | 15 |  | 15 |  |

300 |  | 300 |  |

| All shares hold full entitlement to vote, receive dividends, repayment rights upon sale of the company and full entitlement to assets remaining for distribution upon winding up.

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

| The Report of the Auditors was unqualified.

| Colin Young BA FCA (Senior Statutory Auditor)

| for and on behalf of Galloways Accounting

10. | OFF-BALANCE SHEET ARRANGEMENTS

| At the year end, the company had no non-cancellable operating lease commitments (2024: £86,148). No non-cancellable operating lease commitments are payable more than 1 year from the

11. | RELATED PARTY DISCLOSURES

| On 31 August 2025 the company acquired the trade and assets of a fellow wholly owned group company Nortal Solutions Limited. The consideration paid was book value of the net assets acquired.

12. | ULTIMATE CONTROLLING PARTY

| The immediate parent undertaking is Nortal AS, a company registered in Estonia. The ultimate parent undertaking is Nortal Group Holding OU, a company registered in Estonia.

| The smallest group consolidating the results of the Company is Nortal AS and the largest group consolidating the results of the Company is Nortal Group Holding OU. The registered office of both companies is Harju maakond, Tallinn, Lasnamäe linnaosa, Lõõtsa tn 6, 11415 where copies of the consolidated financial statements may be obtained.

13. | SHARE-BASED PAYMENT TRANSACTIONS

| Equity settled share options in the ultimate parent Nortal Group Holding OU have been issued to an employee of the company. The fair value of the liability incurred in respect of equity-settled share-based payment transactions is measured using an appropriate option pricing model at grant date. The fair value of these options is being recognised over their vesting period, to the extent they are expected to vest, through the profit or loss.