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REGISTERED NUMBER: 06314494 (England and Wales)

Strategic Report, Directors' Report and

Financial Statements for the Year Ended 31 December 2025

for

Elasta Limited

Elasta Limited (Registered number: 06314494)

Contents of the Financial Statements

for the Year Ended 31 December 2025

Page |

Company Information | 1 |

Strategic Report | 2 |

Directors' Report | 3 |

Report of the Independent Auditors | 5 |

Statement of Income and Retained Earnings | 9 |

Balance Sheet | 10 |

Notes to the Financial Statements | 11 |

Elasta Limited

Company Information

for the Year Ended 31 December 2025

| Directors: | Mr A B J Mattson

| Mr M B M Kane

| Mr E J Vistrom

| Mr J E H Reader

| Mr D L Unge

| Registered office: | Quadrant House Floor 6

| Thomas More Square

| London

| E1W 1YW

| Registered number: | 06314494 (England and Wales)

| Senior statutory auditor: | Michael Andrews FCA

| Auditors: | Stephenson Smart (East Anglia) Limited

| Chartered Accountants & Statutory Auditors

| 22-26 King Street

| King's Lynn

| Norfolk

| PE30 1HJ

Elasta Limited (Registered number: 06314494)

Strategic Report

for the Year Ended 31 December 2025

The directors present their strategic report for the year ended 31 December 2025.

Principal activities

The principal activity in the year under review was that of a parent and holding company of G.A.H (Refrigeration) Limited. During the year Elasta Limited did not trade.

The principal activity of G.A.H (Refrigeration) Limited was the manufacture of vehicle refrigeration equipment, along with servicing and maintenance of transport refrigeration units.

Principal risks and uncertainties

The principle risk facing the company is the risk of under performance of the subsidiary investments. The directors feel confident that the investments will continue to perform and grow, given the market trends and demands.

Key performance indicators

The performance of the company is dependant on that of the subsidiary. During the period the company received dividend income of £10,000,000 (2024: £3,900,000).

On behalf of the board:

Mr D L Unge - Director

30 June 2026

Elasta Limited (Registered number: 06314494)

Directors' Report

for the Year Ended 31 December 2025

The directors present their report with the financial statements of the company for the year ended 31 December 2025.

Principal activity

The principal activity of the company in the year under review was that of a holding company.

Dividends

No interim dividend was paid during the year. The directors recommend a final dividend of £10,000,000 per share.

The total distribution of dividends for the year ended 31 December 2025 will be £ 10,000,000 .

Future developments

The company is expected to continue as a holding company. The company and its' group expect to continue to make satisfactory results taking into consideration the economic conditions likely to exist.

Directors

Mr A B J Mattson has held office during the whole of the period from 1 January 2025 to the date of this report.

Other changes in directors holding office are as follows:

Mr M B M Kane - appointed 6 February 2025

Mr E J Vistrom - appointed 2 January 2025

Mr S E W Gilsdorf - resigned 2 January 2025

Mr D L Unge was appointed as a director after 31 December 2025 but prior to the date of this report.

Statement of directors' responsibilities

The director is responsible for preparing the Strategic Report, the Director's Report and the financial statements in accordance with applicable law and regulations.

Company law requires the director to prepare financial statements for each financial year. Under that law the director has elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law), including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'. Under company law the director must not approve the financial statements unless he is satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing these financial statements, the director is 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 director is responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable him to ensure that the financial statements comply with the Companies Act 2006. He is also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Elasta Limited (Registered number: 06314494)

Directors' Report

for the Year Ended 31 December 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 company's auditors are unaware, and each director has taken all the steps that he ought to have taken as a director in order to make himself aware of any relevant audit information and to establish that the company's auditors are aware of that information.

On behalf of the board:

Mr D L Unge - Director

30 June 2026

Report of the Independent Auditors to the Members of

Elasta Limited

Opinion

We have audited the financial statements of Elasta Limited (the 'company') for the year ended 31 December 2025 which comprise the Statement of Income and Retained Earnings, Balance Sheet and 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 company's affairs as at 31 December 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.

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 company 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 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 Strategic Report and the Directors' Report, 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

Elasta Limited

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 Strategic Report and the Directors' Report for the financial year for which the financial statements are prepared is consistent with the financial statements; and

- | the Strategic Report and the Directors' Report 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 company and its environment obtained in the course of the audit, we have not identified material misstatements in the Strategic Report or the Directors' Report.

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, or returns adequate for our audit have not been received from branches not visited by us; or

- | the 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 three, 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 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 company or to cease operations, or have no realistic alternative but to do so.

Report of the Independent Auditors to the Members of

Elasta Limited

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:

Discussions with and enquiries of management and those charged with governance were held with a view to identify those laws and regulations that could be expected to have a material impact on the financial statements. During the engagement team briefing the outcomes of these discussions and enquiries were shared with the team, as well as consideration as to where and how fraud may occur in the entity.

The following laws and regulations were identified as being of significance to the entity:

- Those laws and regulations considered to have a direct effect on the financial statements include the UK financial reporting standards, Company Law, Taxation legislation and distributable profits legislation.

Audit procedures undertaken in response to the potential risks relating to irregularities (which includes fraud and non-compliance with laws and regulations) comprised of: Inquiries of management and those charged with governance as to whether the entity complies with such laws and regulations; enquiries with the same concerning any actual or potential litigation or claims; inspection of relevant legal correspondence; testing the appropriateness of journal entries; and the performance of analytical reviews to identify unexpected movement in account balances which may be indicative of fraud.

No instances of material non-compliance were identified. However, the likelihood of detecting irregularities, including fraud, is limited by the inherent difficulty in detecting irregularities, the effectiveness of the entity's controls and the nature, timing and extent of the audit procedures performed. Irregularities that result from fraud might be inherently more difficult to detect than those irregularities that result from error. As explained above, there is an unavoidable risk that material misstatements might not be detected, even though the audit has been planned and performed in accordance with the ISAs (UK).

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.

Report of the Independent Auditors to the Members of

Elasta Limited

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.

Michael Andrews FCA (Senior Statutory Auditor)

for and on behalf of Stephenson Smart (East Anglia) Limited

Chartered Accountants & Statutory Auditors

22-26 King Street

King's Lynn

Norfolk

PE30 1HJ

30 June 2026

Elasta Limited (Registered number: 06314494)

Statement of Income and Retained Earnings

for the Year Ended 31 December 2025

31.12.25 | 31.12.24 |

| Notes | £ | £

Turnover | - |  | - |  |

Operating profit | - |  | - |  |

Income from shares in group undertakings | 10,000,000 |  | 3,900,000 |  |

Profit before taxation | 10,000,000 |  | 3,900,000 |  |

Tax on profit | 5 | - |  | - |  |

Profit for the financial year | 10,000,000 |  | 3,900,000 |  |

Retained earnings at beginning of year | (4 | ) | (4 | ) |

Dividends | 6 | (10,000,000 | ) | (3,900,000 | ) |

Retained earnings at end of year | (4 | ) | (4 | ) |

Elasta Limited (Registered number: 06314494)

Balance Sheet

31 December 2025

31.12.25 | 31.12.24 |

| Notes | £ | £

Fixed assets

Investments | 7 | 1,122 |  | 1,122 |  |

Current assets

Debtors | 8 | 1 |  | 1 |  |

Cash in hand | 4 |  | 4 |  |

5 |  | 5 |  |

Creditors

Amounts falling due within one year | 9 | (1,126 | ) | (1,126 | ) |

Net current liabilities | (1,121 | ) | (1,121 | ) |

Total assets less current liabilities | 1 |  | 1 |  |

Capital and reserves

Called up share capital | 10 | 4 |  | 4 |  |

Capital redemption reserve | 11 | 1 |  | 1 |  |

Retained earnings | 11 | (4 | ) | (4 | ) |

Shareholders' funds | 1 |  | 1 |  |

The financial statements were approved by the Board of Directors and authorised for issue on 30 June 2026 and were signed on its behalf by:

Mr D L Unge - Director

Elasta Limited (Registered number: 06314494)

Notes to the Financial Statements

for the Year Ended 31 December 2025

1. | Statutory information

| Elasta 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.

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 on a going concern basis, under the historical cost convention. All accounting policies have been applied consistently.

| The financial statements are prepared in sterling, which is the functional currency of the entity.

| Figures are rounded to the nearest whole pound sterling.

| Financial Reporting Standard 102 - reduced disclosure exemptions

| The entity satisfies the criteria of being a qualifying entity as defined in FRS 102. Its financial statements are consolidated into the financial statements of Sdiptech Ab (Publ.) which can be obtained from its website at sdiptech.se/investor-relations/financial-information or from its registered office at Nybrogatan 39, Stockholm 11439, Sweden. As such, advantage has been taken of the following disclosure exemptions available under paragraph 1.12 of FRS 102:

| (a) No cash flow statement has been presented for the company.

| (b) Disclosures in respect of financial instruments have not been presented.

| (c) No disclosure has been given for the aggregate remuneration of key management personnel.

| (d) No disclosure has been given for the transactions undertaken with members of the same group that are wholly owned.

| Preparation of consolidated financial statements

| The financial statements contain information about Elasta Limited as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 400 of the Companies Act 2006 from the requirements to prepare consolidated financial statements as it and its subsidiary undertaking are included by full consolidation in the consolidated financial statements of its parent, Sdiptech Ab (Publ.), Nybrogatan 39, Stockholm 11439, Sweden.

| Critical accounting judgements and key sources of estimation uncertainty

| The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

| Investments in subsidiaries

| Investments in subsidiaries are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses.

Elasta Limited (Registered number: 06314494)

Notes to the Financial Statements - continued

for the Year Ended 31 December 2025

3. | Accounting policies - continued

| Financial instruments

| A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument.

| Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

| Debt instruments are subsequently measured at amortised cost.

| Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately.

| For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets are either assessed individually or grouped on the basis of similar credit risk characteristics.

| Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised. Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the entity after deducting all of its financial liabilities.

| Where the contractual obligations of financial instruments (including share capital) are equivalent to a similar debt instrument, those financial instruments are classed as financial liabilities. Financial liabilities are presented as such in the balance sheet. Finance costs and gains or losses relating to financial liabilities are included in the profit and loss account. Finance costs are calculated so as to produce a constant rate of return on the outstanding liability.

| Where the contractual terms of share capital do not have any terms meeting the definition of a financial liability then this is classed as an equity instrument. Dividends and distributions relating to equity instruments are debited direct to equity.

| 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 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 balance sheet date.

Elasta Limited (Registered number: 06314494)

Notes to the Financial Statements - continued

for the Year Ended 31 December 2025

3. | 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.

| Impairment of fixed assets

| A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.

| For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets.

4. | Employees and directors

| The average number of personas employed by the company during the year, being directors only amounted to 4 (2024: 3).

5. | Taxation

| Analysis of the tax charge

| No liability to UK corporation tax arose for the year ended 31 December 2025 nor for the year ended 31 December 2024.

6. | Dividends

31.12.25 | 31.12.24 |

| £ | £

| Ordinary shares of £0.005 each

| Final | 10,000,000 |  | 3,900,000 |  |

Elasta Limited (Registered number: 06314494)

Notes to the Financial Statements - continued

for the Year Ended 31 December 2025

7. | Fixed asset investments

Shares in |

group |

undertakings |

| £

| Cost

| At 1 January 2025

| and 31 December 2025 | 1,122 |  |

| Net book value

| At 31 December 2025 | 1,122 |  |

| At 31 December 2024 | 1,122 |  |

| The company's investments at the Balance Sheet date in the share capital of companies include the following:

| G.A.H (Refrigeration) Limited - direct subsidiary

| Registered office: Quadrant House Floor 6, 4 Thomas More Square, London, E1W 1YW

| Nature of business: Sale of refrigeration systems

% |

| Class of shares: | holding |

| Ordinary | 100.00 |

| G.A.H (Refrigeration Products) Limited - indirect subsidiary

| Registered office: Quadrant House Floor 6, 4 Thomas More Square, London, E1W 1YW

| Nature of business: Dormant

% |

| Class of shares: | holding |

| Ordinary | 100.00 |

| GAH Europe GmbH - indirect subsidiary

| Registered office: Walther-von-Cronberg-Platz 13,60594 Frankfurt am Main, Germany

| Nature of business: Sale of refrigeration systems

% |

| Class of shares: | holding |

| Ordinary | 100.00 |

8. | Debtors: amounts falling due within one year |

31.12.25 | 31.12.24 |

| £ | £

| Other debtors | 1 |  | 1 |  |

9. | Creditors: amounts falling due within one year |

31.12.25 | 31.12.24 |

| £ | £

| Amounts owed to group undertakings | 1,126 |  | 1,126 |  |

| Amounts owed to group undertakings are unsecured, interest free and repayable on demand.

Elasta Limited (Registered number: 06314494)

Notes to the Financial Statements - continued

for the Year Ended 31 December 2025

10. | Called up share capital

| Allotted, issued and fully paid:

| Number: | Class: | Nominal | 31.12.25 | 31.12.24 |

value: |  | £ | £

| 700 | Ordinary | £0.005 | 4 |  | 4 |  |

| There is a single class of ordinary shares which have full voting rights. There are no restrictions on the distribution of dividends and the repayment of capital.

11. | Reserves

| Capital redemption - This reserve contains the nominal value of own shares that have been acquired by the company and cancelled.

| Profit and loss account - This reserve records distributable retained earnings and accumulated losses.

12. | Ultimate controlling party

| The company's immediate parent company is Sdip Holdings UK Limited, registered in England and Wages. The registered office of Sdip Holdings UK Limited is Archway House Bath Road, Padworth, Reading, Berkshire, England, RG7 5HR.

| The ultimate parent undertaking and controlling party of the company is Sdiptech AB (publ.) a company registered in Sweden. The largest group to consolidate these financial statements is that of Sdiptech AB (publ.).