The directors present the strategic report for the year ended 30 September 2025.

The principal activity of the Company is to act as an agent in trading transactions on behalf of the Trafigura group.

During the year, the Company entered into an agreement for the use of a bitumen storage facility and earned revenue from subcontracting it's rights and obligations under that arrangement. The Company's principal activity remains that of acting as an agent in trading transactions on behalf of the Trafigura group, with the storage arrangement representing an activity auxiliary to and arising directly from the trading position.

The principal risks and uncertainties facing the Company are broadly grouped as financial risk management and geopolitical risk.

Financial Risk Management

The key financial risk that the company is exposed to is liquidity risk. The Company manages its exposure to cash flow risk, credit risk and price risk through detailed due diligence of potential counterparties, in line with wider group policies.

The Company's liquidity risk related to its ability to repay the creditor balances. The risk of being unable to repay the loan is low as it is supported by its parent company to provide financial assistance if required for meeting any liabilities that cannot be recovered.

In light of above, the Company operated under the bitumen storage arrangement and generated revenue from subcontracting the associated rights and obligations. There were no significant developments during the period or subsequent to the year‑end.

Given the straightforward nature of the business, the directors are of the opinion that analysis using KPIs is not necessary for an understanding of the development, performance or position of the business.

The Directors of Trafigura Trading (UK) Limited consider that they have acted in the way they consider, in good faith, would be most likely to promote the success of the Company for the benefit of its members as a whole (having regard to the stakeholders and matters set out in s172 (1) (a-f) of the Companies Act 2006) in the decisions taken during the year ended 30 September 2025.

Our People

The Company does not directly employ any staff.

Business Relationships

We value long term relationships with our suppliers and customers and many of our relationships span years and some span decades. We employ robust "know your customer" and "know your supplier" processes across our operations, and we are typically cautious when entering into new relationships.

Community, Environment and Reputation

We believe that a positive and strong culture is the best way to ensure a high level of professional conduct when it comes to health and safety, environment, regulations or business dealings.

Capital allocation and long term decisions

At least on an annual basis the directors review the financial budgets, resource plans and investment decisions. In making decisions concerning the business plan and future strategy, the directors have regard to a variety of matters including the interests of stakeholders, long term consequences of our capital allocation (such expenditure needed to ensure our long term viability whilst maintaining adequate liquidity), and reputation.

Decisions on the level of dividend take into account the general profitability, liquidity and funding needs of the Company.

On behalf of the board

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

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

Trafigura Trading (UK) Limited ('the Company') is a private company limited by shares incorporated in England and Wales. The registered office is 14 St George Street, London, UK, W1S 1FE. The Company's principal activities and nature of its operations are disclosed in the directors' report.

Refer to Note 13 for the names of the ultimate holding and controlling parties.

The Company's financial statements are prepared on a going concern basis.

The financial statements have been prepared in accordance with Financial Reporting Standard 101 Reduced Disclosure Framework (FRS 101) and in accordance with applicable accounting standards.

The financial statements are prepared in USD which is the functional currency of the Company. Monetary amounts in these financial statements are rounded to the nearest USD.

The financial statements have been prepared under the historical cost convention.The principal accounting policies adopted are set out below.

As permitted by FRS 101, the Company has taken advantage of the following disclosure exemptions from the requirements of IFRS:

• IFRS 7, 'Financial instruments: Disclosures'

• IFRS 13, 'Fair value measurement': paragraphs 91 to 99

• IAS 1, 'Presentation of Financial Statements': paragraph 38; 10(d); 16; 38A; 38B-D; 111; and 134-136

• IAS 7, 'Statement of Cash flows'

• IAS 8, 'Accounting policies, changes in accounting estimates and errors': paragraph 30 and 31

• IAS 24, 'Related Party disclosures': paragraphs 17 and 18A

• The requirements in IAS 24, 'Related Party disclosures' to disclose related party transactions entered into between two or more members of a group.

Where required, equivalent disclosures are given in the group accounts of Trafigura Group Pte. Ltd.. The group accounts of Trafigura Group Pte. Ltd. are available to the public and can be obtained as set out in note 10.

The Company's immediate parent company, Trafigura Pte. Ltd., has committed to provide financial support to the Company to fund its operations for at least 12 months from the date of approval of these financial statements. The directors of the Company have given full consideration on the ability and the financial performance of Trafigura Pte. Ltd., in order to rely on its funding commitment. The directors believe that no events or conditions including those related to the current market volatility, give rise to doubt about the ability of the Company or Trafigura Pte. Ltd., to continue in operation in the next reporting period. After careful consideration, the directors have a 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. true

Revenue comprises the provision of bitumen storage services under a contractual storage agreement and is stated net of value added tax. Revenue is recognised over time as the storage services are provided, as the customer simultaneously receives and consumes the benefits of the services.

Before the Company entered into the bitumen storage agreement, revenue was generated from trading transactions where the Company acted as an agent. The Company did not control the specified goods or services before transfer to the customer and had no inventory risk. Accordingly, revenue was recognised on a net basis, representing the commission earned, upon completion of the relevant performance obligations.

Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price 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 payable within one year are not amortised.

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

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Ordinary shares are classified as equity. Incremental costs directly attributable to the issue of new ordinary shares or options are shown in equity as a deduction, net of tax, from the proceeds.

The tax expense represents the sum of the tax currently payable and deferred tax.

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the income statement because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The Company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

Deferred tax is the tax expected to be payable or recoverable on differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit, and is accounted for using the balance sheet liability method. Deferred tax liabilities are generally recognised for all taxable temporary differences and deferred tax assets are recognised to the extent that it is probable that taxable profits will be available against which deductible temporary differences can be utilised. Such assets and liabilities are not recognised if the temporary difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the income statement, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the Company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the income statement, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

Transactions in currencies other than USD are recorded at the rates of exchange prevailing at the dates of the transactions. At each reporting end date, monetary assets and liabilities that are denominated in foreign currencies are retranslated at the rates prevailing on the reporting end date. Gains and losses arising on translation in the period are included in profit or loss.

In the application of the Company’s accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised, if the revision affects only that period, or in the period of the revision and future periods if the revision affects both current and future periods.

In the opinion of the directors, there are no estimates and assumptions which have a significant risk of causing a material adjustment to the carrying amount of assets and liabilities.

The Company had no employees in the current or prior year.

The charge for the year can be reconciled to the profit per the income statement as follows:

OECD Pillar Two model rules

The Group is within the scope of the OECD Pillar Two model rules. Pillar Two legislation has been enacted in the United Kingdom, the jurisdiction in which Trafigura Trading (UK) Limited is incorporated, and has come into effect for financial years starting on or after 1 January 2024 (i.e. Trafigura Trading (UK) Limited's financial year 2025). The Company has no related current tax exposure. Furthermore, it is the expectation that the Company will not be liable to top-up tax in relation to future profits.

Trade receivables in 2024 included a balance of USD 132,498 receivable from the holding company Trafigura Pte. Ltd.

Trafigura Group PTE Ltd, the intermediate parent company, continues to prepare the consolidated accounts and they may be obtained from their registered offices.

Trafigura Group PTE Ltd,

10 Collyer Quay

#29-01/05 Ocean Financial Centre

Singapore

049315

The Company’s ultimate parent company is Trafigura Control Holdings Pte. Ltd., a company incorporated in Singapore.

Farringford Foundation, which is established under the laws of Panama, has decisive voting power over Trafigura Control Holdings Pte. Ltd. without having any exposure, or rights, to variable returns from its involvement with Trafigura Control Holdings Pte. Ltd.

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 30 September 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.