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

The directors of the company have elected not to include a copy of the income statement within the financial statements.true

Accord Midco Limited is a private company limited by shares incorporated in England and Wales. The registered office is Verde (C/O Oaktree Capital Management, UK LLP), 10 Bressenden Place, London, United Kingdom, SW1E 5DH.

These financial statements are prepared on a going concern basis under the historical cost convention.

The financial statements of the Company are prepared to the last Friday for each period end. Accordingly, these financial statements were prepared for the 52 week period ended 26 September 2025. Comparatives are for the 52 week period ended 27 September 2024. The balance sheets were prepared as at 26 September 2025 and 27 September 2024 respectively.

The preparation of financial statements in conformity with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise its judgement in the process of applying the company's accounting policies. The areas involving a higher degree of judgement or complexity, or areas where assumptions and estimates are significant to the financial statements are disclosed in note 2.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £'000.

The company incurred a net loss of £1true7,448,000 during the period ended 26 September 2025 and, at that date, the company's current liabilities exceeded its current assets by £9,312,000 and it had net liabilities of £236,184,000. The company is dependent on shareholder funding in order to meet its obligations as they fall due. As the support from shareholders has not formally been agreed at the time of signing the financial statements, these conditions indicate the existence of a material uncertainty which may cast significant doubt about the company's ability to continue as a going concern. After making enquiries, the directors have a reasonable expectation that the company have adequate resources to continue in operational existence for the foreseeable future. The company therefore continue to adopt the going concern basis in preparing its financial statements. The financial statements do not include the adjustments that would result if the company was unable to continue as a going concern.

Taxation for the period 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 statement of financial position date.

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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 period 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.

Functional and presentation currency

The company's functional and presentation currency is the pound sterling.

Transactions and balances

Foreign currency transactions are translated in to the functional currency using the spot 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 income statement account.

Loans

Loans are stated at historical cost. Costs directly relating to the securing of the loans are deferred on the statement of financial position and released to the income statement over the term of the loan.

Related party transactions

The company discloses transactions with related parties which are not wholly owned with the same group. It does not disclose transactions with members of the same group that are wholly owned.

The company had no employees other than the directors in the current or prior period.

As the income statement has been omitted from the filing copy of the financial statements, the following information in relation to the audit report on the statutory financial statements is provided in accordance with s444(5B) of the Companies Act 2006.

The auditor's report is unqualified and includes the following:

In our opinion the financial statements:

• give a true and fair view of the state of the company's affairs as at 26 September 2025 and of its loss for the period 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.

The company issued Loan Notes to OCM Luxembourg EPF III Accord Financing S.A.R.L. for £105,132,000 in March 2015. The loan notes accrue interest at a rate of 8% per annum. Accrued interest is capitalised on an annual basis on the anniversary of the issue of the Loan Notes. The balance on the loan notes as at 26 September 2025 is £226,872,605 (27 September 2024: £210,067,227). A further £9,298,669 (27 September 2024: £8,655,921) accrued interest is included within creditors due within one year. During the period interest payable of £17,448,126 (27 September 2024: £16,114,938) was recognised.