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Registered Number: 14316677
England and Wales
Unaudited Financial Statements
for the period ended 31 December 2024
for
MOOVE UK CARCO 2 LIMITED

MOOVE UK CARCO 2 LIMITED ###### Contents Page For the period ended 31 Dec 2024
Business Information | 1
Director's Report | 2
Income Statement | 3
Statement of Financial Position | 4
Statement of Changes in Equity | 5
Notes to the Accounts | 6
Detailed Income Statement | 7
Detailed Statement of Financial Position | 8
1

MOOVE UK CARCO 2 LIMITED ###### Business Information For the period ended 31 Dec 2024
Directors | Oladipo Olakunle Delano Jide Nigel Odunsi
Registered Number | 14316677
Registered Office | 1 Bow Churchyard London EC4M 9DQ
2

MOOVE UK CARCO 2 LIMITED ###### Directors' Report For the period ended 31 Dec 2024
Director's report and financial statements "Small Companies Exemptions " The Company has taken advantage of the exemptions available to it as part of the Companies Act 2006. Accordingly: • No strategic report has been prepared; • No cash flow statement has been presented; • Reduced disclosures have been applied where permitted under the small-companies regime. Directors The directors who served the company throughout the period were as follows:
Oladipo Olakunle Delano
Jide Nigel Odunsi
Signed on behalf of the board of directors:
--------------------------------------------- Oladipo Olakunle Delano Director |  |
Date approved: 05 June 2026 3

MOOVE UK CARCO 2 LIMITED ###### Income Statement For the period ended 31 Dec 2024
| Notes | 2024 £ |  | 2023 £
--- | --- | --- | --- | ---
Turnover |  | - |  | -
Cost of sales |  | - |  | -
Gross profit/(loss) |  | - |  | -
Administrative expenses |  | (602,650) |  | (3,264)
Other operating income |  | 1,117,302 |  | -
Operating Profit/(Loss) |  | 514,652 |  | (3,264)
Interest payable and similar charges |  | (1,117,302) |  | -
Profit/(Loss) on ordinary activities before taxation |  | (602,650) |  | (3,264)
Profit/(Loss) for the period |  | (602,650) |  | (3,264)
4

MOOVE UK CARCO 2 LIMITED ###### Statement of Financial Position As at 31 December 2024
| Notes | 2024 £ |  | 2023 £
--- | --- | --- | --- | ---
Current assets |  |
Debtors | 2 | 32,068,886 |  | 100
Cash at bank and in hand |  | 1,519 |  | 485
|  | 32,070,405 |  | 585
Creditors: amount falling due within one year | 3 | (19) |  | -
Net current assets/(liabilities) |  | 32,070,386 |  | 585
Total assets less current liabilities |  | 32,070,386 |  | 585
Creditors: amount falling due after more than one year | 4 | (32,676,546) |  | (4,095)
Net assets/(liabilities) |  | (606,160) |  | (3,510)
Capital and reserves |  |
Called up share capital |  | 100 |  | 100
Profit and loss account | 5 | (606,260) |  | (3,610)
Shareholders fund |  | (606,160) |  | (3,510)
For the period ended 31 December 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. Directors' Responsibilities: The members have not required the company to obtain an audit of its accounts for the year in question. However the company intent to get it done. The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts. These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime of Part 15 of the Companies Act 2006. Signed on behalf of the board of directors:
--------------------------------------------- Oladipo Olakunle Delano Director |  |
Date approved: 05 June 2026 5

MOOVE UK CARCO 2 LIMITED ###### Statement of Changes in Equity For the period ended 31 Dec 2024
| Equity share capital |  | Profit & loss account |  | Total
--- | --- | --- | --- | --- | ---
| £ |  | £ |  | £
Balance at 24 Aug 2022 | 100 |  | (346) |  | (246)
Profit or loss for the period | - |  | (3,264) |  | (3,264)
Total comprehensive income/(loss) for the period | - |  | (3,264) |  | (3,264)
Balance at 01 Sep 2023 | 100 |  | (3,610) |  | (3,510)
Profit or loss for the period | - |  | (602,650) |  | (602,650)
Total comprehensive income/(loss) for the period | - |  | (602,650) |  | (602,650)
Balance at 31 Dec 2024 | 100 |  | (606,260) |  | (606,160)
6

MOOVE UK CARCO 2 LIMITED ###### Notes to the Accounts For the period ended 31 Dec 2024
Statutory Information Moove Uk Carco 2 Limited is a private limited company, limited by shares, domiciled in England and Wales, registration number 14316677, registration address 1 Bow Churchyard, London, EC4M 9DQ, United Kingdom. The presentation currency is £ sterling.
1. | Accounting Policies Basis of accounting The financial statements are prepared under the historical cost convention and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view Foreign currencies Monetary assets and liabilities denominated in foreign currencies are translated into sterling at the rate of exchange ruling at the balance sheet date. Transactions in foreign currencies are recorded at the rate ruling at the date of the transaction. Exchange differences are recognised in the Profit and Loss Account in the period in which they arise except for: * exchange differences on transactions entered into to hedge certain foreign currency risks; and * exchange differences arising on gains or losses on non-monetary items which are recognised in the Statement of Comprehensive Income. Finance costs Finance costs are charged to the Profit and Loss Account over the term of the debt using the effective interest method so 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. Trade and other 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 losses for bad and doubtful debts, except where the effect of discounting would be immaterial. In such cases the receivables are stated at cost less impairment losses for bad and doubtful debts. Cash and cash equivalents Cash and cash equivalents are highly liquid investments and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value. Bank overdrafts are shown within borrowings in creditors: amounts falling due within one year. Equity instruments Equity instruments issued by the Company are recorded at the fair value of cash or other resources received or receivable, net of direct issue costs. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the Company.
2. | Debtors: amounts falling due within one year
| 2024 £ |  | 2023 £
--- | --- | --- | ---
Other debtors | 1 |  | -
Moove UK Opco Limited | (1,207) |  | -
Moove Colombia SAS | 5,447,558 |  | -
Moove Mexico | 15,022,394 |  | -
Moove UK Holdings Limited | - |  | 100
Moove Africa B.V | 11,599,941 |  | -
VAT | 199 |  | -
| 32,068,886 |  | 100
3. | Creditors: amount falling due within one year
| 2024 £ |  | 2023 £
--- | --- | --- | ---
Cash at Bank :-GBP | 19 |  | -
| 19 |  | -
4. | Creditors: amount falling due after more than one year
| 2024 £ |  | 2023 £
--- | --- | --- | ---
Other creditors | 32,676,546 |  | 4,095
| 32,676,546 |  | 4,095
5. | Profit and loss account
| 2024 £
--- | ---
Balance at 01 September 2023 | (3,610)
Loss for the period | (602,650)
Balance at 31 December 2024 | (606,260)
6. | Average number of employees Average number of employees during the period was 0 (2023: 0).
7. | Notes To Accounts Company Information Moove UK Carco 2 Limited (the “Company”) is a private company limited by shares, incorporated and domiciled in England and Wales under company number 14007220. The registered office and principal place of business is: 1 Bow Churchyard, London, United Kingdom, EC4M 9DQ. The Company's principal activity is the renting and leasing of cars and light motor vehicles, primarily to drivers operating on mobility and ride-hailing platforms. The Company is a wholly owned subsidiary of Moove UK Holdings Limited., a company incorporated in the United Kingdom. The Company's ultimate parent and controlling party is Moove Africa B.V. 2. Basis of Preparation "Statement of Compliance The financial statements of the company have been prepared in accordance with UK-adopted Financial Reporting Standards and with the requirements of the Companies Act 2006 as applicable to companies reporting under those standards." Basis of Measurement The financial statements have been prepared in accordance with Financial Reporting Standards (FRS 102). They have been prepared on a going concern basis using the accrual method of accounting and are presented in GBP. The financial statements have been prepared on a historical cost basis, except for items measured at fair value or amortized cost as described in the accounting policies. Lease Receivable and the related Impairement loss allowance are measured in accordance with Section 20 and Section 11, respectively. The detailed accounting policies and measurement bases for these items are explained in their respective notes to the financial statements. The accounting policies applied are consistent with those of the previous reporting period 3 Accounting policies 3.1 Cash and Cash Equivalents Cash and cash equivalents comprise cash on hand, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of changes in value. 3.2 Borrowings All borrowings are initially recorded at fair value less transaction costs. Borrowings are subsequently carried at amortized cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognized as a charge to the income statement over the period of the relevant borrowing. Interest expense is recognized on the basis of the effective interest method and is included in Finance cost. Borrowings are classified as current liabilities unless the Company has an unconditional right to defer settlement of the liability for at least 12 months after the reporting date. 3.3 Trade Payables Trade payables are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if payment is due within one year or less (or in the normal operating cycle of the business if longer). If not, they are presented as non-current liabilities. This classification and measurement of trade payables are in line with the requirements of Section 11 Financial Instruments. 3.4 Share Capital Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis. 3.5 Taxation The tax expense for the period comprises current and deferred tax. Tax is recognized in profit or loss, except that a change attributable to an item of income or expense recognized as other comprehensive income which is shown in the Statement of Changes in Equity. Deferred income tax is recognized on temporary differences arising between the tax bases of assets and liabilities and their carrying amounts in the financial statements and on unused tax losses or tax credits in the Company. Deferred income tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date. The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit. 3.6 Foreign Currency Transactions and Balances Transactions in foreign currencies are recorded in the functional currency of the Company GBP at the exchange rates prevailing on the dates of the transactions. Monetary assets and liabilities denominated in foreign currencies are retranslated at the exchange rates prevailing at the reporting date. Non-monetary items measured at historical cost in a foreign currency are translated using the exchange rate at the date of the transaction, while non-monetary items measured at fair value are translated using the exchange rates at the date when the fair value was determined. Exchange differences arising on settlement or translation of monetary items are recognized in the statement of profit or loss. 3.7 Offsetting Financial assets and financial liabilities are off-set and the net amount is reported in the statement of financial position if the Company has a legally enforceable right to set-off the recognized amounts and intends either to settle on a net basis or to realize the assets and settle the liabilities simultaneously. 3.8 Events after the reporting date The Company financial statements are adjusted to reflect events that occurred between the reporting date and the date when the financial statements are authorized for issue, provided they give evidence of conditions that existed at the reporting date. Any post year-end events that are non-adjusting are disclosed in the financial statements when material. 4. Accounting estimates and judgments 4.1 Use of Judgements and Estimates "The preparation of these financial statements in accordance with UK-adopted Financial Reporting Standards and requirements of the Companies Act 2006 requires management to exercise judgement and make estimates and assumptions. These judgements, estimates, and assumptions have a direct impact on the reported amounts of assets, liabilities, income, and expenses presented in the financial statements. The estimates and underlying assumptions are based on historical experience and other factors considered reasonable under the circumstances. They form the basis for judgements regarding the carrying values of assets and liabilities that are not readily determinable from other sources. The actual results are not expected to differ materially from these estimates and assumptions." Estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognized in the period in which the estimate is revised if the revision affects only that period, or in both the current and future periods if the revision affects both. Judgements made by management in applying UK-adopted Financial Reporting Standards that have a significant effect on the financial statements, together with estimates that carry a significant risk of material adjustment within the next financial year. 4 Accounting estimates and judgments (Continued) 4.2 Events after the reporting date (Continued) quantitative and qualitative factors, informed by the Company's historical experience, forward-looking information, and credit assessments. 5 Restatement of Prior Period Information The Company previously issued preliminary financial statements for the year ended 31 December 2022 which contained only limited balance sheet information prepared under a simplified small-company format. "As part of the transition to full UK-adopted (FRS 102) and the preparation of statutory financial statements for 2023, management identified that the preliminary 2022 figures:" did not include intragroup balances or other payables; did not reflect the Company's actual trading activity; and did not comply with the recognition and measurement requirements of Section 11. Accordingly, the 2022 comparative information has been restated in full in accordance with Section 10 Accounting Policies, Estimates & Errors. 6 Functional and presentation currency These financial statements are presented in pound sterling, which is the Company's functional currency. All amounts have been rounded to the nearest pound, unless otherwise indicated
8. | Notes to Accounts_ Calcations
Particulars | 2024 | 2023
Operating Profit |  |
Operating profit is stated after charging/(crediting): |  |
Fines and penalties Professional fee Bank Charges Miscellaneous expense | - - - - | - 1,381 1,873 -
Other income |  |
Exchange Gain / Loss Interest Income: Other Other Income - Misc | (600,206) 1,117,302 - | (10) - -
Interest payable and similar expenses |  |
Finance Cost | 1,117,302 | -
"The Company is subject to an intercompany interest charge from its parent entity, Moove UK Holding Limited. Moove UK Holding Limited obtained financing from EMSO to fund the acquisition of vehicles that were subsequently transferred to the Company. The EMSO loan carries an interest rate of 8% per annum. In line with the underlying financing arrangement, Moove UK Holding Limited levies an equivalent 8% interest charge to the Company to reflect the cost of capital associated with these assets. This charge has been recognised as an interest expense within these financial statements."
Trade And Other Receivables |  |
Value added tax Receivable from related parties | 199 32,068,686 | - 100
The VAT Receivable from customers represents the amount paid by the Company at the commencement of the lease term. The Company is required to pay VAT at a rate of 20% on the total lease amount at the inception of the lease. This VAT is subsequently recovered from customers over the lease period through the lease payments.
Receivable from Related Parties |  |
Moove Africa B.V Moove UK Opco Limited Moove Colombia SAS Moove Mexico Moove UK Carco 2 Ltd Moove UK Holdings Limited | 11,599,941 (1,207) 5,447,558 15,022,394 1 - | - - - - - 100
Cash and Bank Balance |  |
Current account Cast at bank - GBP Cast at bank - USD | (19) 1,519 | 261 224
Share Capital |  |
Issue & Fully paid up |  |
Ordinary shares of 1£ each | 100 | 100
Payable: amounts falling due after more than one year |  |
Payable to Group Related Parties |  |
Moove UK Opco Limited | 2,132 | 1,381
Moove UK Holding 2 LTD Moove Colombia SAS Moove Mexico Moove UK Carco 1 Limited Moove Africa B.V | (100) (1,925,896) (551,108) 580,909 2,714 | - - - - 2,714
Long Term Loan | 34,567,895 | -
Subsidiary Details
Subsidiary Name | Year of Investment | Registered Office | Proportion held
Carco 1 | 2022 | 1 Bow Churchyard, London, UK, EC4M 9DQ | 100%
Carco 2 | 2022 | 1 Bow Churchyard, London, UK, EC4M 9DQ | 100%
Carco 3 | 2023 | 1 Bow Churchyard, London, UK, EC4M 9DQ | 100%
OPCO | 2022 | 1 Bow Churchyard, London, UK, EC4M 9DQ | 100%
7

MOOVE UK CARCO 2 LIMITED ###### Detailed Income Statement For the period ended 31 Dec 2024
|  | £ | 2024 £ |  | £ | 2023 £
--- | --- | --- | --- | --- | --- | ---
Gross profit/(loss) |  |  | - |  |  | -
Administrative expenses |  |  |
Audit fees |  | (1) |  |  | - |
Bank charges |  | 1,437 |  |  | 1,873 |
Exchange rate losses/gains |  | 600,206 |  |  | 10 |
Professional Fee |  | 1,008 |  |  | 1,381 |
|  |  | (602,650) |  |  | (3,264)
Other operating income |  |  |
Interest income :- Other |  | 1,117,302 |  |  | - |
|  |  | 1,117,302 |  |  | -
Operating Profit/(Loss) |  |  | 514,652 |  |  | (3,264)
Interest payable and similar charges |  |  |
Interest on loan |  | 1,117,302 |  |  | - |
|  |  | (1,117,302) |  |  | -
Profit/(Loss) on ordinary activities before taxation |  |  | (602,650) |  |  | (3,264)
Profit/(Loss) for the period |  |  | (602,650) |  |  | (3,264)
8

MOOVE UK CARCO 2 LIMITED ###### Detailed Statement of Financial Position For the period ended 31 Dec 2024
|  | £ | 2024 £ |  | £ | 2023 £
--- | --- | --- | --- | --- | --- | ---
Current assets |  |  |
Debtors |  |  |
Other debtors less than one year |  | 32,068,687 |  |  | 100 |
VAT control account |  | 199 |  |  | - |
|  |  | 32,068,886 |  |  | 100
Cash at bank and in hand |  |  |
Bank accounts |  | 1,519 |  |  | 485 |
|  |  | 1,519 |  |  | 485
|  |  | 32,070,405 |  |  | 585
Creditors: amount falling due within one year |  |  |
Bank accounts |  | (19) |  |  | - |
|  |  | (19) |  |  | -
Net current assets/(liabilities) |  |  | 32,070,386 |  |  | 585
Total assets less current liabilities |  |  | 32,070,386 |  |  | 585
Creditors: amount falling due after more than one year |  |  |
Other creditors more than one year |  | (32,676,546) |  |  | (4,095) |
|  |  | (32,676,546) |  |  | (4,095)
Net assets/(liabilities) |  |  | (606,160) |  |  | (3,510)
Capital and reserves |  |  |
Called up share capital |  |  |
Equity share capital |  | 100 |  |  | 100 |
|  |  | 100 |  |  | 100
Profit and loss account |  |  |
Accumulated profit & loss |  | (3,610) |  |  | (346) |
|  |  | (3,610) |  |  | (346)
|  |  | (3,510) |  |  | (246)
Profit/(Loss) for the year |  |  | (602,650) |  |  | (3,264)
|  |  | (606,160) |  |  | (3,510)
9