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REGISTERED NUMBER: 00344017 (England and Wales)

| KEMET INTERNATIONAL LIMITED |

| & ITS SUBSIDIARY COMPANIES |

GROUP STRATEGIC REPORT, REPORT OF THE DIRECTORS AND |

| AUDITED |

| CONSOLIDATED FINANCIAL STATEMENTS |

| FOR THE YEAR ENDED 30 SEPTEMBER 2025 |

KEMET INTERNATIONAL LIMITED

& ITS SUBSIDIARY COMPANIES (REGISTERED NUMBER: 00344017)

CONTENTS OF THE CONSOLIDATED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 SEPTEMBER 2025

Page |

| Company Information | 1 |

| Group Strategic Report | 2 |

| Report of the Directors | 4 |

| Report of the Independent Auditors | 6 |

| Consolidated Income Statement | 9 |

| Consolidated Other Comprehensive Income | 10 |

| Consolidated Statement of Financial Position | 11 |

| Company Statement of Financial Position | 12 |

| Consolidated Statement of Changes in Equity | 13 |

| Company Statement of Changes in Equity | 14 |

| Consolidated Statement of Cash Flows | 15 |

| Notes to the Consolidated Statement of Cash Flows | 16 |

| Notes to the Consolidated Financial Statements | 17 |

KEMET INTERNATIONAL LIMITED

& ITS SUBSIDIARY COMPANIES

COMPANY INFORMATION

FOR THE YEAR ENDED 30 SEPTEMBER 2025

| DIRECTORS: | J. E. Park , FCMA

| M. J. Riedl , Ph.D., B.Sc.

| A. G. Riedl

| N. P. Swan

| M. J. Farrington

| L. Gellett

| SECRETARY: | J. E. Park , FCMA

| REGISTERED OFFICE: | Parkwood Trading Estate

| MAIDSTONE

| Kent

| ME15 9NJ

| REGISTERED NUMBER: | 00344017 (England and Wales)

| AUDITORS: | McCabe Ford Williams

| Statutory Auditors and Chartered Accountants

| 89 King Street

| Maidstone

| Kent

| ME14 1BG

KEMET INTERNATIONAL LIMITED

& ITS SUBSIDIARY COMPANIES (REGISTERED NUMBER: 00344017)

GROUP STRATEGIC REPORT

FOR THE YEAR ENDED 30 SEPTEMBER 2025

The directors present their strategic report of the company and the group for the year ended 30 September 2025.

REVIEW OF BUSINESS

The Group's key performance indicators include revenue, gross profit and net profit.

The Group's Revenue has increased to £22.70m (2024: £20.03m). The gross profit has also increased from £10.64m (53.12%) to £11.21m (49.38%).

Operating profit for the year has increased, very slightly, from £1.69m in 2024 to £1.77m this year.

Profit before tax has increased by 4.9%.

The increase in sales in the year is attributed to large one-off sales of cleaning machines acquired from IFP and through the Group's agency with Finnsonic.Typically the margin on the sale of machines is lower than on the standard ranges of manufactured products and factored goods so the increase in sales of machines has resulted in a drop in the gross profit margin but an increase in the absolute gross profit itself. Excluding machine sales, sales have remained broadly consistent across all markets on a geographical basis but demand from specific customers can result in fluctuations.

Cash inflows from operating activities have increased to £1.97m (2024: £1.55m) as a result of the increase in operating profit offset by increases in stock and debtors.

The Group has a strong cash position at the year end. Net funds held in cash and cash equivalents have increased to £7.61m (2024: £7.33m). This is despite paying a dividend of £610,000 in the year (2024: £1.29m, which was partially funded by the profit on the disposal of the Japanese associate).

PRINCIPAL RISKS AND UNCERTAINTIES

Similar to many other companies of our size, both in this and many other industries, trading in foreign markets continues to be very competitive, with ongoing cost and pricing challenges from all directions. The group are actively driving a number of strategic options to address those longer term challenges.

OPERATIONAL RISK

This is the risk of a direct or indirect loss resulting from inadequacies or failures in projects, processes or controls due to technology, staff, organisation or external factors. To monitor and control operational risk, the company maintains a system of comprehensive policies and a control framework which are designed to provide a sound and well-controlled operational environment. Key information regarding governance and the management of risk is reported to the Board. This enables management to monitor operational risk at appropriate levels.

FOREIGN CURRENCY RISK

The group operates internationally giving rise to exposure from changes in foreign exchange rates, particularly the US dollar and Euro. The group does not hedge translation exposure and earnings because any benefit obtained from such hedging can only be temporary.

The group also has transactional currency exposures arising from its international trade.

KEMET INTERNATIONAL LIMITED

& ITS SUBSIDIARY COMPANIES (REGISTERED NUMBER: 00344017)

GROUP STRATEGIC REPORT

FOR THE YEAR ENDED 30 SEPTEMBER 2025

RESEARCH AND DEVELOPMENT

Cost of sales included significant new and existing product developments; these developments will continue to reflect changes in market requirements, standards and certification.

The group continued to market its products and services on a worldwide basis through its network of overseas group companies and associates.

ON BEHALF OF THE BOARD:

J. E. Park , FCMA - Director

22 June 2026

KEMET INTERNATIONAL LIMITED

& ITS SUBSIDIARY COMPANIES (REGISTERED NUMBER: 00344017)

REPORT OF THE DIRECTORS

FOR THE YEAR ENDED 30 SEPTEMBER 2025

The directors present their report with the financial statements of the company and the group for the year ended 30 September 2025.

PRINCIPAL ACTIVITY

The principal activity of the group in the year under review was that of the manufacture and marketing of industrial abrasives, lapping equipment and materials.

DIVIDENDS

During the year under review the company paid interim dividends of £1.22 per share in respect of the year ended 30 September 2025.

DIRECTORS

The directors shown below have held office during the whole of the period from 1 October 2024 to the date of this report.

J. E. Park , FCMA

M. J. Riedl , Ph.D., B.Sc.

A. G. Riedl

N. P. Swan

M. J. Farrington

L. Gellett

RISK MANAGEMENT

The risk management programmes of the company and of its subsidiaries seek to assess, manage and control risk. A broad spectrum of risks are considered including those relating to strategy, operational performance, financial (including fraud) and health and safety. The principal operational risks are the maintenance of high quality product and service levels and the financial risks are those related to foreign currencies and market forces.

STATEMENT OF DIRECTORS' RESPONSIBILITIES

The directors are responsible for preparing the Group Strategic Report, the Report of the Directors and the financial statements in accordance with applicable law and regulations.

Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and the group and of the profit or loss of the group for that period. In preparing these financial statements, the directors are required to:

- | select suitable accounting policies and then apply them consistently;

- | make judgements and accounting estimates that are reasonable and prudent;

- | prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.

The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's and the group's transactions and disclose with reasonable accuracy at any time the financial position of the company and the group and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and the group and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

KEMET INTERNATIONAL LIMITED

& ITS SUBSIDIARY COMPANIES (REGISTERED NUMBER: 00344017)

REPORT OF THE DIRECTORS

FOR THE YEAR ENDED 30 SEPTEMBER 2025

STATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDITORS

So far as the directors are aware, there is no relevant audit information (as defined by Section 418 of the Companies Act 2006) of which the group's auditors are unaware, and each director has taken all the steps that he or she ought to have taken as a director in order to make himself or herself aware of any relevant audit information and to establish that the group's auditors are aware of that information.

AUDITORS

The auditors, McCabe Ford Williams, will be proposed for re-appointment at the forthcoming Annual General Meeting.

ON BEHALF OF THE BOARD:

J. E. Park , FCMA - Director

22 June 2026

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF

KEMET INTERNATIONAL LIMITED

& ITS SUBSIDIARY COMPANIES

Opinion

We have audited the financial statements of Kemet International Limited & its Subsidiary Companies (the 'parent company') and its subsidiaries (the 'group') for the year ended 30 September 2025 which comprise the Consolidated Income Statement, Consolidated Other Comprehensive Income, Consolidated Statement of Financial Position, Company Statement of Financial Position, Consolidated Statement of Changes in Equity, Company Statement of Changes in Equity, Consolidated Statement of Cash Flows and Notes to the Consolidated Statement of Cash Flows, Notes to the Financial Statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:

- | give a true and fair view of the state of the group's and of the parent company affairs as at 30 September 2025 and of the group's 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.

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the group in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the group's and the parent company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.

Other information

The directors are responsible for the other information. The other information comprises the information in the Group Strategic Report and the Report of the Directors, but does not include the financial statements and our Report of the Auditors thereon.

Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF

KEMET INTERNATIONAL LIMITED

& ITS SUBSIDIARY COMPANIES

Opinions on other matters prescribed by the Companies Act 2006

In our opinion, based on the work undertaken in the course of the audit:

- | the information given in the Group Strategic Report and the Report of the Directors for the financial year for which the financial statements are prepared is consistent with the financial statements; and

- | the Group Strategic Report and the Report of the Directors have been prepared in accordance with applicable legal requirements.

Matters on which we are required to report by exception

In the light of the knowledge and understanding of the group and the parent company and its environment obtained in the course of the audit, we have not identified material misstatements in the Group Strategic Report or the Report of the Directors.

We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion:

- | adequate accounting records have not been kept by the parent company, or returns adequate for our audit have not been received from branches not visited by us; or

- | the parent company financial statements are not in agreement with the accounting records and returns; or

- | certain disclosures of directors' remuneration specified by law are not made; or

- | we have not received all the information and explanations we require for our audit.

Responsibilities of directors

As explained more fully in the Statement of Directors' Responsibilities set out on page four, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the directors are responsible for assessing the group's and the parent company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the group or the parent company or to cease operations, or have no realistic alternative but to do so.

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF

KEMET INTERNATIONAL LIMITED

& ITS SUBSIDIARY COMPANIES

Auditors' responsibilities for the audit of the financial statements

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue a Report of the Auditors that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

We gained an understanding of the legal and regulatory framework applicable to the company and the industry in which it operates, and considered the risk of acts by the company that were contrary to applicable laws and regulations, including fraud.

We designed audit procedures to respond to the risk, recognising that the risk of not detecting a material misstatement due to fraud is higher than the risk of not detecting one resulting from error, as fraud may involve deliberate concealment by, for example, forgery or intentional misrepresentations, or through collusion.

We focussed on laws and regulations which could give rise to a material misstatement in the financial statements, including, but not limited to, the Companies Act 2006 and UK tax legislation. Our tests included agreeing the financial statement disclosures to underlying supporting documentation, enquiries with management. There are inherent limitations in the audit procedures described above and, the further removed non-compliance with laws and regulations is from the events and transactions reflected in the financial statements, the less likely we would become aware of it. We did not identify any key audit matters relating to irregularities, including fraud. As in all our audits, we also addressed the risk of management override of internal controls, including testing journals and evaluating whether there was evidence of bias by the directors that represented a risk of material misstatement due to fraud.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the Auditors.

Use of our report

This report is made solely to the company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company's members those matters we are required to state to them in a Report of the Auditors and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's members as a body, for our audit work, for this report, or for the opinions we have formed.

David Boobbyer FCA (Senior Statutory Auditor)

for and on behalf of McCabe Ford Williams

Statutory Auditors and Chartered Accountants

89 King Street

Maidstone

Kent

ME14 1BG

22 June 2026

KEMET INTERNATIONAL LIMITED

& ITS SUBSIDIARY COMPANIES (REGISTERED NUMBER: 00344017)

CONSOLIDATED

INCOME STATEMENT

FOR THE YEAR ENDED 30 SEPTEMBER 2025

| 30.9.25 | 30.9.24 |

| Notes | £ | £ | £ | £ |

TURNOVER | 4 | 22,703,723 |  | 20,026,773 |  |

Cost of sales | 11,492,635 |  | 9,387,685 |  |

GROSS PROFIT | 11,211,088 |  | 10,639,088 |  |

Distribution costs | 202,713 |  | 215,741 |  |

Administrative expenses | 9,408,492 |  | 8,856,163 |  |

|  |  | 9,611,205 |  |  |  |  | 9,071,904 |  |

1,599,883 |  | 1,567,184 |  |

Other operating income | 165,524 |  | 120,442 |  |

OPERATING PROFIT | 6 | 1,765,407 |  | 1,687,626 |  |

Income from interest in associated undertakings | 7 | 8,078 |  | 31,878 |  |

Interest receivable and similar income | 73,812 |  | 39,873 |  |

|  |  | 81,890 |  |  |  |  | 71,751 |  |

PROFIT BEFORE TAXATION | 1,847,297 |  | 1,759,377 |  |

Tax on profit | 8 | 388,657 |  | 265,590 |  |

PROFIT FOR THE FINANCIAL YEAR | 1,458,640 |  | 1,493,787 |  |

Profit attributable to:

Owners of the parent | 1,458,640 |  | 1,493,787 |  |

KEMET INTERNATIONAL LIMITED

& ITS SUBSIDIARY COMPANIES (REGISTERED NUMBER: 00344017)

CONSOLIDATED

OTHER COMPREHENSIVE INCOME

FOR THE YEAR ENDED 30 SEPTEMBER 2025

| 30.9.25 |  | 30.9.24

| Notes | £ | £ |

PROFIT FOR THE YEAR | 1,458,640 |  | 1,493,787 |  |

OTHER COMPREHENSIVE INCOME |

Exchange rate movement | 7,536 |  | (227,330 | ) |

Income tax relating to other comprehensive income | - |  | - |  |

OTHER COMPREHENSIVE INCOME FOR THE YEAR, NET OF INCOME TAX | 7,536 |  | (227,330 | ) |

TOTAL COMPREHENSIVE INCOME FOR THE YEAR | 1,466,176 |  | 1,266,457 |  |

Total comprehensive income attributable to:

Owners of the parent | 1,466,176 |  | 1,266,457 |  |

KEMET INTERNATIONAL LIMITED

& ITS SUBSIDIARY COMPANIES (REGISTERED NUMBER: 00344017)

CONSOLIDATED STATEMENT OF FINANCIAL POSITION

30 SEPTEMBER 2025

| 30.9.25 | 30.9.24 |

| Notes | £ | £ | £ | £ |

FIXED ASSETS

Intangible assets | 11 | - |  | - |  |

Tangible assets | 12 | 5,214,128 |  | 5,050,446 |  |

Investments | 13 |

| Interest in associate undertaking | 171,101 |  | 175,621 |  |

5,385,229 |  | 5,226,067 |  |

CURRENT ASSETS

Stocks | 14 | 4,401,066 |  | 4,224,223 |  |

Debtors | 15 | 4,019,263 |  | 3,907,939 |  |

Cash at bank and in hand | 7,605,916 |  | 7,330,185 |  |

16,026,245 |  | 15,462,347 |  |

CREDITORS

Amounts falling due within one year | 16 | 4,357,111 |  | 4,499,883 |  |

NET CURRENT ASSETS | 11,669,134 |  | 10,962,464 |  |

TOTAL ASSETS LESS CURRENT LIABILITIES | 17,054,363 |  | 16,188,531 |  |

PROVISIONS FOR LIABILITIES | 17 | 111,594 |  | 101,938 |  |

NET ASSETS | 16,942,769 |  | 16,086,593 |  |

CAPITAL AND RESERVES

Called up share capital | 18 | 500,000 |  | 500,000 |  |

Retained earnings | 19 | 16,442,769 |  | 15,586,593 |  |

SHAREHOLDERS' FUNDS | 16,942,769 |  | 16,086,593 |  |

The financial statements were approved by the Board of Directors and authorised for issue on 22 June 2026 and were signed on its behalf by:

J. E. Park , FCMA - Director

KEMET INTERNATIONAL LIMITED

& ITS SUBSIDIARY COMPANIES (REGISTERED NUMBER: 00344017)

COMPANY STATEMENT OF FINANCIAL POSITION

30 SEPTEMBER 2025

| 30.9.25 | 30.9.24 |

| Notes | £ | £ | £ | £ |

FIXED ASSETS

Intangible assets | 11 | - |  | - |  |

Tangible assets | 12 | 2,414,753 |  | 2,452,715 |  |

Investments | 13 | 238,270 |  | 238,270 |  |

2,653,023 |  | 2,690,985 |  |

CURRENT ASSETS

Stocks | 14 | 2,718,818 |  | 2,479,935 |  |

Debtors | 15 | 2,334,391 |  | 2,616,890 |  |

Cash at bank | 1,943,007 |  | 1,412,795 |  |

6,996,216 |  | 6,509,620 |  |

CREDITORS

Amounts falling due within one year | 16 | 2,537,852 |  | 2,145,389 |  |

NET CURRENT ASSETS | 4,458,364 |  | 4,364,231 |  |

TOTAL ASSETS LESS CURRENT LIABILITIES | 7,111,387 |  | 7,055,216 |  |

PROVISIONS FOR LIABILITIES | 17 | 148,339 |  | 145,486 |  |

NET ASSETS | 6,963,048 |  | 6,909,730 |  |

CAPITAL AND RESERVES

Called up share capital | 18 | 500,000 |  | 500,000 |  |

Retained earnings | 19 | 6,463,048 |  | 6,409,730 |  |

SHAREHOLDERS' FUNDS | 6,963,048 |  | 6,909,730 |  |

Company's profit for the financial year | 663,318 |  | 948,388 |  |

The financial statements were approved by the Board of Directors and authorised for issue on 22 June 2026 and were signed on its behalf by:

J. E. Park , FCMA - Director

KEMET INTERNATIONAL LIMITED

& ITS SUBSIDIARY COMPANIES (REGISTERED NUMBER: 00344017)

CONSOLIDATED STATEMENT OF CHANGES IN EQUITY

FOR THE YEAR ENDED 30 SEPTEMBER 2025

| Called up |

| share |  | Retained |  | Total

| capital |  | earnings |  | equity

£ | £ | £ |

Balance at 1 October 2023 | 500,000 |  | 15,610,136 |  | 16,110,136 |  |

Changes in equity

Dividends | - |  | (1,290,000 | ) | (1,290,000 | ) |

Total comprehensive income | - |  | 1,266,457 |  | 1,266,457 |  |

Balance at 30 September 2024 | 500,000 |  | 15,586,593 |  | 16,086,593 |  |

Changes in equity

Dividends | - |  | (610,000 | ) | (610,000 | ) |

Total comprehensive income | - |  | 1,466,176 |  | 1,466,176 |  |

Balance at 30 September 2025 | 500,000 |  | 16,442,769 |  | 16,942,769 |  |

KEMET INTERNATIONAL LIMITED

& ITS SUBSIDIARY COMPANIES (REGISTERED NUMBER: 00344017)

COMPANY STATEMENT OF CHANGES IN EQUITY

FOR THE YEAR ENDED 30 SEPTEMBER 2025

| Called up |

| share |  | Retained |  | Total

| capital |  | earnings |  | equity

£ | £ | £ |

Balance at 1 October 2023 | 500,000 |  | 6,751,342 |  | 7,251,342 |  |

Changes in equity

Dividends | - |  | (1,290,000 | ) | (1,290,000 | ) |

Total comprehensive income | - |  | 948,388 |  | 948,388 |  |

Balance at 30 September 2024 | 500,000 |  | 6,409,730 |  | 6,909,730 |  |

Changes in equity

Dividends | - |  | (610,000 | ) | (610,000 | ) |

Total comprehensive income | - |  | 663,318 |  | 663,318 |  |

Balance at 30 September 2025 | 500,000 |  | 6,463,048 |  | 6,963,048 |  |

KEMET INTERNATIONAL LIMITED

& ITS SUBSIDIARY COMPANIES (REGISTERED NUMBER: 00344017)

CONSOLIDATED STATEMENT OF CASH FLOWS

FOR THE YEAR ENDED 30 SEPTEMBER 2025

| 30.9.25 |  | 30.9.24

| Notes | £ | £ |

Cash flows from operating activities

Cash generated from operations | 1 | 1,970,493 |  | 1,548,936 |  |

Tax paid | (543,955 | ) | (196,352 | ) |

Net cash from operating activities | 1,426,538 |  | 1,352,584 |  |

Cash flows from investing activities

Purchase of intangible fixed assets | - |  | (19,999 | ) |

Purchase of tangible fixed assets | (731,216 | ) | (804,587 | ) |

Sale of tangible fixed assets | 116,597 |  | 59,104 |  |

Sale of fixed asset investments | - |  | 814,755 |  |

Interest received | 73,812 |  | 39,873 |  |

Net cash from investing activities | (540,807 | ) | 89,146 |  |

Cash flows from financing activities

Equity dividends paid | (610,000 | ) | (1,290,000 | ) |

Net cash from financing activities | (610,000 | ) | (1,290,000 | ) |

Increase in cash and cash equivalents | 275,731 |  | 151,730 |  |

Cash and cash equivalents at beginning of year | 2 | 7,330,185 |  | 7,178,455 |  |

Cash and cash equivalents at end of year | 2 | 7,605,916 |  | 7,330,185 |  |

KEMET INTERNATIONAL LIMITED

& ITS SUBSIDIARY COMPANIES (REGISTERED NUMBER: 00344017)

NOTES TO THE CONSOLIDATED STATEMENT OF CASH FLOWS

FOR THE YEAR ENDED 30 SEPTEMBER 2025

1. | RECONCILIATION OF PROFIT BEFORE TAXATION TO CASH GENERATED FROM OPERATIONS

| 30.9.25 |  | 30.9.24

£ | £ |

| Profit before taxation | 1,847,297 |  | 1,759,377 |  |

| Depreciation charges | 529,769 |  | 472,757 |  |

| Profit on disposal of fixed assets | (59,244 | ) | (561,473 | ) |

| Exchange movement | (47 | ) | (123,208 | ) |

| Finance income | (81,890 | ) | (71,751 | ) |

2,235,885 |  | 1,475,702 |  |

| Increase in stocks | (176,843 | ) | (116,861 | ) |

| Increase in trade and other debtors | (111,324 | ) | (197,137 | ) |

| Increase in trade and other creditors | 22,775 |  | 387,232 |  |

| Cash generated from operations | 1,970,493 |  | 1,548,936 |  |

2. | CASH AND CASH EQUIVALENTS

| The amounts disclosed on the Statement of Cash Flows in respect of cash and cash equivalents are in respect of these Statement of Financial Position amounts:

| Year ended 30 September 2025

| 30.9.25 |  | 1.10.24

£ | £ |

| Cash and cash equivalents | 7,605,916 |  | 7,330,185 |  |

| Year ended 30 September 2024

| 30.9.24 |  | 1.10.23

£ | £ |

| Cash and cash equivalents | 7,330,185 |  | 7,178,455 |  |

3. | ANALYSIS OF CHANGES IN NET FUNDS

| At 1.10.24 | Cash flow | At 30.9.25

£ | £ | £ |

| Net cash |

| Cash at bank and in hand | 7,330,185 |  | 275,731 |  | 7,605,916 |  |

7,330,185 |  | 275,731 |  | 7,605,916 |  |

| Total | 7,330,185 |  | 275,731 |  | 7,605,916 |  |

KEMET INTERNATIONAL LIMITED

& ITS SUBSIDIARY COMPANIES (REGISTERED NUMBER: 00344017)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 SEPTEMBER 2025

1. | STATUTORY INFORMATION

| Kemet International Limited & its Subsidiary Companies 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 General Information page.

| The presentation currency of the financial statements is the Pound Sterling (£).

2. | STATEMENT OF COMPLIANCE

| 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" and the Companies Act 2006.

3. | ACCOUNTING POLICIES

| Basis of preparing the financial statements

| The financial statements have been prepared under the historical cost convention.

| Basis of consolidation

| The group financial statements include the financial statements of the company and all of its subsidiary undertakings made up to 30 September 2025, together with the group share of the results of associates up to their most recent year end or 30 September 2025 as set out in Note 13.

| A subsidiary is an entity controlled by the company. Control exists when the company has the power, directly or indirectly, to govern the financial and operating policies of the entity so as to derive benefits from its activities.

| An associate is an entity in which the group holds a long-term interest and where the group has a significant influence. The results of associates are accounted for using the equity method of accounting.

| All intra-group transactions, balances, income and expenses are eliminated on consolidation.

KEMET INTERNATIONAL LIMITED

& ITS SUBSIDIARY COMPANIES (REGISTERED NUMBER: 00344017)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 30 SEPTEMBER 2025

3. | ACCOUNTING POLICIES - continued

| Significant judgements and estimates

| In the application of the company's accounting policies, management is required to make judgements, estimates and assumptions about the carrying value of assets and liabilities that are not readily apparent from other sources. The estimates and underlying assumptions are based on historical experience and other factors that are considered 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 to 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.

| The key sources of estimation uncertainty that have a significant effect on the amounts recognised in the financial statements are-

| a) Useful lives of property, plant and equipment

| The useful life of an item of property, plant and equipment is estimated at the time the asset is acquired and is based on historical experience with similar assets and takes into account anticipated technological or other changes. If changes occur more rapidly than anticipated or the asset experiences unexpected levels of wear and tear, the useful life will be adjusted accordingly.

| b) Stock valuation method

| Stock write-down is made based on the current market conditions, historical experience and selling

| goods of a similar nature. It could change significantly as a result of changes in market conditions. A review is made periodically on stock for excess stock, obsolescence and declines in net realisable value and an allowance is recorded against the stock balances for any such declines. The realisable value represents the best estimate of the recoverable amount and is based on the most reliable evidence available and inherently involves estimates regarding future expected realisable value.

| Turnover

| Revenue comprises the consideration received for the sale of goods and services in the ordinary course of the Group's activities. Revenue is shown net of value-added tax and other sales related taxes, returns and discounts and after eliminating sales within the group.

| The group is to act as retailers of polishing products for industrial use. Revenue is recognised when goods are delivered to the customers and all criteria for acceptance have been satisfied. Revenue is recognised at the point in time when such risks are transferred and customers obtain control over the goods they have purchased.

| Goodwill

| Goodwill, being the amount paid in connection with the acquisition of a business in 2013, is being amortised

| evenly over its estimated useful life of ten years.

| During 2024, the Group acquired an additional share in its Dutch subsidiary for £19,999. The goodwill acquired was amortised in full in the year of purchase.

| Intangible assets

| Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

KEMET INTERNATIONAL LIMITED

& ITS SUBSIDIARY COMPANIES (REGISTERED NUMBER: 00344017)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 30 SEPTEMBER 2025

3. | ACCOUNTING POLICIES - continued

| Tangible fixed assets

| Depreciation is provided at rates calculated to write off the cost less estimated residual value of each asset class on a straight line basis over its expected useful life, as follows:

| Freehold buildings |  | 33 years |  |

| Leasehold buildings |  | Over the lease term |  |

| Plant and machinery |  | Between 3 and 15 years |  |

| Fixtures and fittings |  | Between 3 and 15 years |  |

| Motor vehicles |  | Between 2 and 4 years |  |

| No depreciation is charged on freehold land.

| Investments in associates

| Investments in associate undertakings are recognised at cost.

| Stocks

| Stocks and work in progress are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

| Cost is calculated using the first-in, first-out method and includes all purchase, labour, transport, and handling costs in bringing stocks to their present location and condition.

KEMET INTERNATIONAL LIMITED

& ITS SUBSIDIARY COMPANIES (REGISTERED NUMBER: 00344017)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 30 SEPTEMBER 2025

3. | ACCOUNTING POLICIES - continued

| Financial instruments

| The company enters into basic financial instruments that result in the recognition of financial assets and liabilities like trade and other accounts receivable and payable, loans from banks and other third parties and loans to related parties.

| a) Trade and other debtors

| Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method, less 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.

| b) Cash and cash equivalents

| Cash and cash equivalents comprise cash at bank and in hand.

| c) Impairment of financial assets

| Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in profit or loss.

| For financial assets measured at amortised cost, the impairment loss is measured as the difference between an asset's carrying amount and the present value of estimated cash flows discounted at the asset's original effective interest rate. If a financial asset has a variable interest rate, the discount rate for measuring any impairment loss is the current effective interest rate determined under the contract.

| For financial assets measured at cost less impairment, the impairment loss is measured as the difference between an asset's carrying amount and the best estimate, which is an approximation, of the amount that the company would receive for the asset if it were to be sold at the reporting date.

| d) Trade and other creditors

| Debt instruments like loans and other accounts payable are initially measured at present value of the future payments and subsequently at amortised cost using the effective interest method. Debt instruments that are payable within one year, typically trade payables, are measured, initially and subsequently, at the undiscounted amount of the cash or other consideration expected to be paid. However, if the arrangements of a short-term instrument constitute a financing transaction, like the payment of a trade debt deferred beyond normal business terms or financed at a rate of interest that is not a market rate or in case of an outright short-term loan not at market rate, the financial asset is measured, initially and subsequently, at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

| Financial assets and liabilities are offset and the net amount reported in the statement of financial position when there is an 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.

KEMET INTERNATIONAL LIMITED

& ITS SUBSIDIARY COMPANIES (REGISTERED NUMBER: 00344017)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 30 SEPTEMBER 2025

3. | ACCOUNTING POLICIES - continued

| Taxation

| Taxation for the year comprises current and deferred tax. Tax is recognised in the Consolidated 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

| 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 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.

| Research and development

| Expenditure on research and development is written off in the year in which it is incurred.

| Foreign currencies

| Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the statement of financial position 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.

| Hire purchase and leasing commitments

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

| Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases (net of any incentives received from the lessor) are charged to the profit and loss account on a straight-line basis over the period of the lease.

| Pension costs and other post-retirement benefits

| Payments made to defined contribution retirement benefit schemes are charged an an expense as they fall due.

| For defined retirement benefit schemes, the cost of providing benefits is determined using the projected unit method, with actuarial valuations being carried out at each balance sheet date. The net deficit or surplus on the scheme is carried in the balance sheet, comprising the present value of the defined benefit obligation at the balance sheet date less the fair value of the scheme assets. Actuarial gains and losses are charged to retained earnings in full in the period in which they occur via the statement of recognised gains and losses.

KEMET INTERNATIONAL LIMITED

& ITS SUBSIDIARY COMPANIES (REGISTERED NUMBER: 00344017)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 30 SEPTEMBER 2025

3. | ACCOUNTING POLICIES - continued

| Investments

| Fixed assets investments are stated at cost including any share of post acquisition profits or losses. Due consideration is made for any permanent diminution in value at each balance sheet date.

| Where accounting periods are non-coterminous the share of the profit has been calculated on a time apportionment basis.

| Dividends

| Dividends payable on ordinary shares are recognised in retained earnings once they are appropriately authorised or paid and are no longer at the discretion of the company.

4. | TURNOVER

| The turnover and profit before taxation are attributable to the one principal activity of the group.

| An analysis of turnover by geographical market is given below:

| 30.9.25 |  | 30.9.24

£ | £ |

| United Kingdom | 3,886,518 |  | 3,398,931 |  |

| Europe | 6,690,400 |  | 6,721,291 |  |

| Far East | 7,898,160 |  | 5,859,483 |  |

| Other | 4,228,645 |  | 4,047,068 |  |

22,703,723 |  | 20,026,773 |  |

5. | EMPLOYEES AND DIRECTORS

| 30.9.25 |  | 30.9.24

£ | £ |

| Wages and salaries | 5,423,854 |  | 5,238,334 |  |

| Social security costs | 636,579 |  | 587,498 |  |

| Other pension costs | 379,440 |  | 392,430 |  |

6,439,873 |  | 6,218,262 |  |

| The average number of employees during the year was as follows:

| 30.9.25 |  | 30.9.24

| Employees | 109 |  | 100 |  |

| 30.9.25 |  | 30.9.24

£ | £ |

| Directors' remuneration | 1,085,779 |  | 1,070,658 |  |

| Directors' pension contributions to money purchase schemes | 98,657 |  | 87,141 |  |

KEMET INTERNATIONAL LIMITED

& ITS SUBSIDIARY COMPANIES (REGISTERED NUMBER: 00344017)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 30 SEPTEMBER 2025

5. | EMPLOYEES AND DIRECTORS - continued

| The number of directors to whom retirement benefits were accruing was as follows:

| Money purchase schemes | 2 |  | 2 |  |

| Information regarding the highest paid director is as follows:

| 30.9.25 |  | 30.9.24

£ | £ |

| Emoluments etc | 240,762 |  | 238,693 |  |

| Pension contributions to money purchase schemes | 45,411 |  | 33,699 |  |

6. | OPERATING PROFIT

| The operating profit is stated after charging/(crediting):

| 30.9.25 |  | 30.9.24

£ | £ |

| Other operating leases | 33,121 |  | 34,320 |  |

| Depreciation - owned assets | 529,769 |  | 452,759 |  |

| Profit on disposal of fixed assets | (59,244 | ) | (561,473 | ) |

| Goodwill amortisation | - |  | 19,999 |  |

| Auditors remuneration | 40,250 |  | 38,335 |  |

| Auditors' remuneration for non audit work | 5,650 |  | 5,390 |  |

| Foreign exchange differences | 14,272 |  | 173,585 |  |

| Research & development expenditure | - |  | 24,623 |  |

| Directors' pension contributions | 98,657 |  | 87,141 |  |

7. | INCOME FROM INTEREST IN ASSOCIATED UNDERTAKINGS

| The share of income from associated companies (after tax) at 30 September 2025 is as follows:

| Kemet Korea |  |

| Profit/(Loss) Before Tax |  | £8,078 |  |

| Tax |  | (£659 | ) |

| Profit/(Loss) After Tax |  | £7,419 |  |

KEMET INTERNATIONAL LIMITED

& ITS SUBSIDIARY COMPANIES (REGISTERED NUMBER: 00344017)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 30 SEPTEMBER 2025

8. | TAXATION

| Analysis of the tax charge

| The tax charge on the profit for the year was as follows:

| 30.9.25 |  | 30.9.24

£ | £ |

| Current tax:

| UK corporation tax | 154,342 |  | 48,319 |  |

| Overseas taxation | 224,724 |  | 173,747 |  |

| Total current tax | 379,066 |  | 222,066 |  |

| Deferred taxation | 9,591 |  | 43,524 |  |

| Tax on profit | 388,657 |  | 265,590 |  |

| Reconciliation of total tax charge included in profit and loss

| The tax assessed for the year is lower than the standard rate of corporation tax in the UK. The difference is explained below:

| 30.9.25 |  | 30.9.24

£ | £ |

| Profit before tax | 1,847,297 |  | 1,759,377 |  |

| Profit multiplied by the standard rate of corporation tax in the UK of 25 % (2024 - 24.591 %) | 461,824 |  | 432,648 |  |

| Effects of:

| Expenses not deductible for tax purposes | 17,878 |  | 40,754 |  |

| Tax for prior years | (15,323 | ) | (49,816 | ) |

| Effect of different overseas tax rate | (100,931 | ) | (44,537 | ) |

| Other items | (14,947 | ) | (17,898 | ) |

| R&D Deduction | - |  | (3,385 | ) |

| Non qualifying depreciation | 53,210 |  | 42,577 |  |

| Non-taxable income | (13,054 | ) | (2,502 | ) |

| Profit on sale of associate | - |  | (132,251 | ) |

| Total tax charge | 388,657 |  | 265,590 |  |

| Tax effects relating to effects of other comprehensive income |

| 30.9.25 |

| Gross |  | Tax |  | Net |

£ | £ | £ |

| Exchange rate movement | 7,536 |  | - |  | 7,536 |  |

KEMET INTERNATIONAL LIMITED

& ITS SUBSIDIARY COMPANIES (REGISTERED NUMBER: 00344017)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 30 SEPTEMBER 2025

8. | TAXATION - continued

| 30.9.24 |

| Gross |  | Tax |  | Net |

£ | £ | £ |

| Exchange rate movement | (227,330 | ) | - |  | (227,330 | ) |

9. | INDIVIDUAL INCOME STATEMENT

| As permitted by Section 408 of the Companies Act 2006, the Income Statement of the parent company is not presented as part of these financial statements.

10. | DIVIDENDS

| 30.9.25 |  | 30.9.24

£ | £ |

| Interim | 610,000 |  | 1,290,000 |  |

11. | INTANGIBLE FIXED ASSETS

| Group

| Goodwill

£ |

| COST

| At 1 October 2024

| and 30 September 2025 | 19,999 |  |

| AMORTISATION

| At 1 October 2024

| and 30 September 2025 | 19,999 |  |

| NET BOOK VALUE

| At 30 September 2025 | - |  |

| At 30 September 2024 | - |  |

KEMET INTERNATIONAL LIMITED

& ITS SUBSIDIARY COMPANIES (REGISTERED NUMBER: 00344017)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 30 SEPTEMBER 2025

12. | TANGIBLE FIXED ASSETS

| Group

| Plant and |

| Land and |  | machinery |

| buildings |  | etc |  | Totals

£ | £ | £ |

| COST

| At 1 October 2024 | 5,991,322 |  | 5,413,514 |  | 11,404,836 |  |

| Additions | 16,443 |  | 714,773 |  | 731,216 |  |

| Disposals | - |  | (440,344 | ) | (440,344 | ) |

| Exchange differences | 21,984 |  | 2,179 |  | 24,163 |  |

| At 30 September 2025 | 6,029,749 |  | 5,690,122 |  | 11,719,871 |  |

| DEPRECIATION

| At 1 October 2024 | 2,192,460 |  | 4,161,930 |  | 6,354,390 |  |

| Charge for year | 183,275 |  | 346,494 |  | 529,769 |  |

| Eliminated on disposal | - |  | (382,991 | ) | (382,991 | ) |

| Exchange differences | 6,007 |  | (1,432 | ) | 4,575 |  |

| At 30 September 2025 | 2,381,742 |  | 4,124,001 |  | 6,505,743 |  |

| NET BOOK VALUE

| At 30 September 2025 | 3,648,007 |  | 1,566,121 |  | 5,214,128 |  |

| At 30 September 2024 | 3,798,862 |  | 1,251,584 |  | 5,050,446 |  |

KEMET INTERNATIONAL LIMITED

& ITS SUBSIDIARY COMPANIES (REGISTERED NUMBER: 00344017)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 30 SEPTEMBER 2025

12. | TANGIBLE FIXED ASSETS - continued

| Company

| Plant and |

| Land and |  | machinery |

| buildings |  | etc |  | Totals

£ | £ | £ |

| COST

| At 1 October 2024 | 2,492,489 |  | 3,519,829 |  | 6,012,318 |  |

| Additions | 740 |  | 283,490 |  | 284,230 |  |

| Disposals | - |  | (183,978 | ) | (183,978 | ) |

| At 30 September 2025 | 2,493,229 |  | 3,619,341 |  | 6,112,570 |  |

| DEPRECIATION

| At 1 October 2024 | 1,001,219 |  | 2,558,384 |  | 3,559,603 |  |

| Charge for year | 70,649 |  | 206,653 |  | 277,302 |  |

| Eliminated on disposal | - |  | (139,088 | ) | (139,088 | ) |

| At 30 September 2025 | 1,071,868 |  | 2,625,949 |  | 3,697,817 |  |

| NET BOOK VALUE

| At 30 September 2025 | 1,421,361 |  | 993,392 |  | 2,414,753 |  |

| At 30 September 2024 | 1,491,270 |  | 961,445 |  | 2,452,715 |  |

| Included in cost of land and buildings is freehold land of £ 495,000 (2024 - £ 495,000 ) which is not depreciated.

13. | FIXED ASSET INVESTMENTS

| Group

| Interest

| in

| associate

| undertaking

£ |

| COST

| At 1 October 2024 | 175,621 |  |

| Share of Profit/(loss) | 7,419 |  |

| Exchange differences | (11,939 | ) |

| At 30 September 2025 | 171,101 |  |

| NET BOOK VALUE

| At 30 September 2025 | 171,101 |  |

| At 30 September 2024 | 175,621 |  |

KEMET INTERNATIONAL LIMITED

& ITS SUBSIDIARY COMPANIES (REGISTERED NUMBER: 00344017)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 30 SEPTEMBER 2025

13. | FIXED ASSET INVESTMENTS - continued

| Company

| Interest |

| Shares in |  | in |

| group |  | associate |

| undertakings |  | undertaking |  | Totals

£ | £ | £ |

| COST

| At 1 October 2024

| and 30 September 2025 | 202,262 |  | 36,008 |  | 238,270 |  |

| NET BOOK VALUE

| At 30 September 2025 | 202,262 |  | 36,008 |  | 238,270 |  |

| At 30 September 2024 | 202,262 |  | 36,008 |  | 238,270 |  |

| The group or the company's investments at the Statement of Financial Position date in the share capital of companies include the following:

| Subsidiaries

| Kemet Europe B.V and subsidiary

| Registered office: Oude Moerstraatsebaan 110, 4614 RS Bergen op zoom, Netherlands

| Nature of business: Industrial abrasives

| %

| Class of shares: | holding |

| Ordinary | 100.00 |

| 30.9.25 |  | 30.9.24

£ | £ |

| Aggregate capital and reserves | 2,391,799 |  | 2,099,870 |  |

| Profit for the year | 181,034 |  | 135,558 |  |

| Kemet Australia (Pty) Limited

| Registered office: 4/11 Turbo Rd, Kings Park NSW 2148, Australia

| Nature of business: Industrial abrasives

| %

| Class of shares: | holding |

| Ordinary | 100.00 |

| 30.9.25 |  | 30.9.24

£ | £ |

| Aggregate capital and reserves | 1,512,462 |  | 1,581,116 |  |

| (Loss)/profit for the year | (16,699 | ) | 122,938 |  |

KEMET INTERNATIONAL LIMITED

& ITS SUBSIDIARY COMPANIES (REGISTERED NUMBER: 00344017)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 30 SEPTEMBER 2025

13. | FIXED ASSET INVESTMENTS - continued

| Kemet Far East (Pte) Limited and subsidiary

| Registered office: 32 Ang Mo Kio Ind Park 2, Singapore 569510

| Nature of business: Industrial abrasives

| %

| Class of shares: | holding |

| Ordinary | 99.90 |

| 30.9.25 |  | 30.9.24

£ | £ |

| Aggregate capital and reserves | 5,689,051 |  | 5,224,016 |  |

| Profit for the year | 767,386 |  | 655,357 |  |

| Kemet China Limited and Subsidiary

| Registered office: Room 101, Building B, No. 8, Yuanchuang Park, No. 4, Xiaolong Road, Dalang Street, Longhua District, Shenzhen, China

| Nature of business: Industrial Abrasives

| %

| Class of shares: | holding |

| Ordinary | 100.00 |

| 30.9.25 |  | 30.9.24

£ | £ |

| Aggregate capital and reserves | 620,116 |  | 531,465 |  |

| Profit for the year | 99,270 |  | 109,357 |  |

| Kemet Developments Limited

| Registered office: Parkwood Trading Estate, Maidstone, Kent, ME15 9NJ

| Nature of business: Dormant

| %

| Class of shares: | holding |

| Ordinary | 100.00 |

| 30.9.25 |  | 30.9.24

£ | £ |

| Aggregate capital and reserves | 3,079 |  | 3,079 |  |

| Kemet Services Limited

| Registered office: Parkwood Trading Estate, Maidstone, Kent, ME15 9NJ

| Nature of business: Dormant

| %

| Class of shares: | holding |

| Ordinary | 100.00 |

| 30.9.25 |  | 30.9.24

£ | £ |

| Aggregate capital and reserves | 141 |  | 141 |  |

KEMET INTERNATIONAL LIMITED

& ITS SUBSIDIARY COMPANIES (REGISTERED NUMBER: 00344017)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 30 SEPTEMBER 2025

13. | FIXED ASSET INVESTMENTS - continued

| Associated company

| Kemet Korea

| Registered office: 302dong 403ho, 397 Seokcheon-ro, Bucheon-city, Korea, 14449

| Nature of business: Industrial abrasives

| %

| Class of shares: | holding |

| Ordinary | 45.00 |

| The most recent financial information from Kemet Korea is for the year ended 31 December 2025 and the proportion attributable to Kemet International Limited is as follows:-

| 2025 |  |

| Turnover |  | £150,607 |  |

| Profit (loss) before tax |  | £2,631 |  |

| Taxation |  | £219 |  |

| Profit (loss) after tax |  | £2,412 |  |

| Fixed assets |  | £109,918 |  |

| Current assets |  | £165,931 |  |

| Liabilities due in one year |  | £60,592 |  |

| Liabilities due over one year |  | £43,606 |  |

14. | STOCKS

| Group |  | Company |

| 30.9.25 |  | 30.9.24 |  | 30.9.25 |  | 30.9.24 |

£ | £ | £ | £ |

| Raw materials | 549,962 |  | 499,150 |  | 549,962 |  | 499,150 |  |

| Work-in-progress | 24,807 |  | 17,232 |  | 24,807 |  | 17,232 |  |

| Finished goods | 3,826,297 |  | 3,707,841 |  | 2,144,049 |  | 1,963,553 |  |

4,401,066 |  | 4,224,223 |  | 2,718,818 |  | 2,479,935 |  |

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

| Group |  | Company |

| 30.9.25 |  | 30.9.24 |  | 30.9.25 |  | 30.9.24 |

£ | £ | £ | £ |

| Trade debtors | 3,396,586 |  | 3,079,948 |  | 1,605,622 |  | 1,394,966 |  |

| Amounts owed by group undertakings | - |  | - |  | 279,023 |  | 609,016 |  |

| Other debtors | 186,031 |  | 224,841 |  | 13,100 |  | 9,758 |  |

| VAT debtor | 259,438 |  | 219,190 |  | 259,438 |  | 219,190 |  |

| Prepayments and accrued income | 177,208 |  | 383,960 |  | 177,208 |  | 383,960 |  |

4,019,263 |  | 3,907,939 |  | 2,334,391 |  | 2,616,890 |  |

KEMET INTERNATIONAL LIMITED

& ITS SUBSIDIARY COMPANIES (REGISTERED NUMBER: 00344017)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 30 SEPTEMBER 2025

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

| Group |  | Company |

| 30.9.25 |  | 30.9.24 |  | 30.9.25 |  | 30.9.24 |

£ | £ | £ | £ |

| Trade creditors | 2,321,962 |  | 2,104,319 |  | 1,661,040 |  | 1,306,754 |  |

| Amounts owed to group undertakings | - |  | - |  | 3,208 |  | 3,208 |  |

| Taxation | (85,648 | ) | 79,900 |  | (78,783 | ) | (46,125 | ) |

| Other taxes and PAYE taxes | 71,482 |  | 68,277 |  | 71,482 |  | 68,277 |  |

| Other creditors and accruals | 2,049,315 |  | 2,247,387 |  | 880,905 |  | 813,275 |  |

4,357,111 |  | 4,499,883 |  | 2,537,852 |  | 2,145,389 |  |

17. | PROVISIONS FOR LIABILITIES

| Group |  | Company |

| 30.9.25 |  | 30.9.24 |  | 30.9.25 |  | 30.9.24 |

£ | £ | £ | £ |

| Deferred taxation | 111,594 |  | 101,938 |  | 148,339 |  | 145,486 |  |

| Group

| Deferred |

| tax |

£ |

| Balance at 1 October 2024 | 101,938 |  |

| Accelerated allowances | 2,853 |  |

| Internal unrealised profit | 6,738 |  |

| Exchange movements | 65 |  |

| Balance at 30 September 2025 | 111,594 |  |

| Company

| Deferred |

| tax |

£ |

| Balance at 1 October 2024 | 145,486 |  |

| Accelerated Capital Allowances | 2,853 |  |

| Balance at 30 September 2025 | 148,339 |  |

18. | CALLED UP SHARE CAPITAL

| Allotted, issued and fully paid:

| Number: | Class: | Nominal | 30.9.25 |  | 30.9.24

| value: | £ | £ |

| 500,000 | Ordinary | £1 | 500,000 |  | 500,000 |  |

KEMET INTERNATIONAL LIMITED

& ITS SUBSIDIARY COMPANIES (REGISTERED NUMBER: 00344017)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 30 SEPTEMBER 2025

19. | RESERVES

| Group

| Retained

| earnings

£ |

| At 1 October 2024 | 15,586,593 |  |

| Profit for the year | 1,458,640 |  |

| Dividends | (610,000 | ) |

| Exchange differences | 7,536 |  |

| At 30 September 2025 | 16,442,769 |  |

| Company

| Retained

| earnings

£ |

| At 1 October 2024 | 6,409,730 |  |

| Profit for the year | 663,318 |  |

| Dividends | (610,000 | ) |

| At 30 September 2025 | 6,463,048 |  |

20. | PENSION COMMITMENTS

| The Company operates a retirement benefits plan known as the Kemet International Retirements Benefits Plan ("the Plan") providing money purchase benefits. The assets of the Plan are held separately from those of the Company.

| The Company operated a defined benefit scheme which was wound up in the year ended 30 September 2013 and the pensions payable under the scheme were purchased in the insurance market. The Company has no further liabilities under the scheme.

21. | CONTINGENT LIABILITIES

| Kemet BV, the subsidiary based in Holland, has been subject to a claim for contaminating the land on which it is based with trico ethylene. It is likely that the company will be responsible for decontaminating this land. At this stage, it is not possible to quantify the costs of carrying out the necessary work.

22. | RELATED PARTY DISCLOSURES

| The group is taking advantage of the exemption prescribed by FRS102 and so related party transactions which are eliminated on consolidation are not disclosed.

KEMET INTERNATIONAL LIMITED

& ITS SUBSIDIARY COMPANIES (REGISTERED NUMBER: 00344017)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 30 SEPTEMBER 2025

| Entities with control, joint control or significant influence over the | entity |

| Kemet Korea- Associated Company

| During the year under review the associated company purchased goods from Kemet International Limited for the value of £82,516 (2024: £92,866).

| Other related parties |

| Dividends of £5,25,100 were paid to the directors and their close family members. The individuals concerned are the directors, Mr A G Riedl, Dr M J Riedl and Mr N P Swan and Mrs K M Park, the wife of Mr J E Park, Mrs H Riedl, the wife of Dr M J Riedl, Mrs FA Swan, the wife of Mr N P Swan and Mrs M P Riedl, the wife of Mr A G Riedl.

23. | ULTIMATE CONTROLLING PARTY

| The ultimate parent company of the group is Kemet International Limited.

| The company is controlled by its directors. There is no individual with a controlling interest.