The director presents his annual report and financial statements for the year ended 30 June 2025.

The principal activity of the company continued to be that of investing in litigation financing projects.

The results for the year are set out on .

No ordinary dividends were paid. The director does not recommend payment of a final dividend.

The director who held office during the year and up to the date of signature of the financial statements was as follows:

For the financial year ended 30 June 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

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

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

LCM Operations UK Limited is a private company limited by shares incorporated in England and Wales. The registered office is 181 Queen Victoria Street, Bridge House, London, EC4V 4EG. The company's principal activities and nature of its operations are disclosed in the director's report.

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

The financial statements have been prepared 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:

• inclusion of an explicit and unreserved statement of compliance with IFRS;

• presentation of a statement of cash flows and related notes;

• disclosure of the objectives, policies and processes for managing capital;

• disclosure of key management personnel compensation;

• disclosure of the categories of financial instrument and the nature and extent of risks arising on these financial instruments;

• the effect of financial instruments on the statement of comprehensive income;

• comparative period reconciliations for the number of shares outstanding and the carrying amounts of property, plant and equipment, intangible assets, investment property and biological assets;

• disclosure of the future impact of new International Financial Reporting Standards in issue but not yet effective at the reporting date; and

• related party disclosures for transactions with the parent or wholly owned members of the group.

Where required, equivalent disclosures are given in the group accounts of Litigation Capital Management Limited. The group accounts of Litigation Capital Management Limited are available to the public and can be obtained from the company's website https://www.lcmfinance.com/shareholders/annual-reports-financial-reports/.

Under Companies Act 2006, s454, on a voluntary basis, the members can amend these financial statements if they subsequently prove to be defective.

The director has at the time of approving the financial statements, a reasonable expectation that the truecompany has adequate resources to continue in operational existence for the foreseeable future. Thus he continues to adopt the going concern basis of accounting in preparing the financial statements.

Trade and other receivables are initially recognised at fair value and subsequently measured at amortised cost using the effective interest method, less any allowance for expected credit losses.

Equity instruments issued by the company are recorded at the proceeds received, net of direct issue costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

The average monthly number of persons (including directors) employed by the company during the year was:

Ordinary shares entitle the holder to participate in dividends and the proceeds on the winding up of the company in proportion to the number of and amounts paid on the shares held. Each share entitles the holder to one vote. The company does not have a limited amount of authorised capital.

Global Loan Agency Services Australia Nominees Pty Limited hold a charge over the assets of the company by means of a supplemental debenture held with the parent company LCM Group Holdings Pty Ltd.

The company has taken advantage of the exemptions available to it under FRS101 Section 8 not to disclose related party transactions entered into between two or more members of a group, provided that any subsidiary which is party to the transactions is wholly owned by such a member.

A fixed and floating charge exists over the undertaking of the company with respect to the liabilities of the ultimate controlling party, Litigation Capital Management Limited.

The immediate parent company is LCM Group Holdings Pty Limited, a company registered in Australia. The ultimate parent company is Litigation Capital Management Limited, an Australian company which prepares consolidated accounts for the group. These accounts are available from the company's website https://www.lcmfinance.com/shareholders/annual-reports-financial-reports/.