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REGISTERED NUMBER: 10930806 (England and Wales)

FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025

FOR

ETISALAT EUROPE LIMITED

| ETISALAT EUROPE LIMITED (REGISTERED NUMBER: 10930806) |

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 |

| ETISALAT EUROPE LIMITED |

COMPANY INFORMATION

FOR THE YEAR ENDED 31 DECEMBER 2025

| Directors: | Mr A R Al Aqqad

| Mr N Baccouche

| Registered office: | Suite 1,

| 7th Floor 50 Broadway,

| London

| SW1H 0BL

| Registered number: | 10930806 (England and Wales)

| Auditors: | Fuller & Roper Limited

| Chartered Accountants and Statutory Auditors

| 12 Old Mills Industrial Estate

| Paulton

| BS39 7SU

| ETISALAT EUROPE LIMITED (REGISTERED NUMBER: 10930806) |

BALANCE SHEET

31 DECEMBER 2025

2025 | 2024 |

| Notes | £ | £

FIXED ASSETS

Tangible assets | 4 | 5,310 |  | 5,273 |  |

CURRENT ASSETS

Debtors | 5 | 457,109 |  | 206,076 |  |

Cash at bank | 618,411 |  | 653,551 |  |

1,075,520 |  | 859,627 |  |

CREDITORS

Amounts falling due within one year | 6 | (257,038 | ) | (138,407 | ) |

NET CURRENT ASSETS | 818,482 |  | 721,220 |  |

TOTAL ASSETS LESS CURRENT LIABILITIES | 823,792 |  | 726,493 |  |

CAPITAL AND RESERVES

Called up share capital | 407,817 |  | 407,817 |  |

Retained earnings | 415,975 |  | 318,676 |  |

SHAREHOLDERS' FUNDS | 823,792 |  | 726,493 |  |

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 Income statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 9 June 2026 and were signed on its behalf by:

Mr N Baccouche - Director

| ETISALAT EUROPE LIMITED (REGISTERED NUMBER: 10930806) |

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2025

1. | STATUTORY INFORMATION

| Etisalat Europe 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 company’s functional and presentational currency is pounds sterling (GBP) and the financial statements 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.

| Turnover

| Turnover represents amounts charged to the company's parent under a sales and marketing agreement, excluding value added tax. Turnover is recognised when chargeable costs are incurred.

| Tangible fixed assets

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

| Computer equipment - 33% on cost

| 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.

| Classification of financial liabilities

| Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into.

| Basic financial liabilities

| Basic financial liabilities, including creditors, and loans from fellow group companies are initially recognised at transaction price.

| Debtors

| Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measure initially at fair value, net of transactions 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 creditors measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transactions costs, and are measured subsequently at amortised cost using the effective interest method.

| 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 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.

| ETISALAT EUROPE LIMITED (REGISTERED NUMBER: 10930806) |

NOTES TO THE FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 31 DECEMBER 2025

2. | ACCOUNTING POLICIES - continued

| 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.

| 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.

| Operating lease

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

3. | EMPLOYEES AND DIRECTORS

| The average number of employees during the year was 5 (2024 - 5 ) .

4. | TANGIBLE FIXED ASSETS

Plant and |

machinery |

etc |

| £

| Cost

| At 1 January 2025 | 17,347 |  |

| Additions | 3,707 |  |

| At 31 December 2025 | 21,054 |  |

| Depreciation

| At 1 January 2025 | 12,074 |  |

| Charge for year | 3,670 |  |

| At 31 December 2025 | 15,744 |  |

| Net book value

| At 31 December 2025 | 5,310 |  |

| At 31 December 2024 | 5,273 |  |

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

2025 | 2024 |

| £ | £

| Trade debtors | 428,861 |  | 178,092 |  |

| Other debtors | 10,500 |  | 10,500 |  |

| VAT | 5,792 |  | 4,225 |  |

| Prepayments | 11,956 |  | 13,259 |  |

457,109 |  | 206,076 |  |

| ETISALAT EUROPE LIMITED (REGISTERED NUMBER: 10930806) |

NOTES TO THE FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 31 DECEMBER 2025

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

2025 | 2024 |

| £ | £

| Tax | 32,361 |  | 32,048 |  |

| PAYE | 17,193 |  | 12,875 |  |

| Pension | 4,534 |  | 3,638 |  |

| Accrued expenses | 202,950 |  | 89,846 |  |

257,038 |  | 138,407 |  |

7. | LEASING AGREEMENTS

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

2025 | 2024 |

| £ | £

| Within one year | 36,530 |  | 32,080 |  |

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

| The Report of the auditors was unqualified.

| Simon Roper (Senior Statutory Auditor)

| for and on behalf of Fuller & Roper Limited

9. | ULTIMATE CONTROLLING PARTY

| The immediate parent company is considered to be Etisalat Europe and Asia Limited, a company incorporated in the United Arab Emirates.

| The ultimate controlling party is considered to be the Emirates Telecommunications Group Company PJSC, a company incorporated in the United Arab Emirates, with registered office at PO Box 3838, Abu Dhabi, United Arab Emirates, and listed on the Abu Dhabi Securities Exchange. Consolidated accounts including Etisalat Europe Limited are drawn, these can be obtained from the company's website www.eand.com.