Registered Number: 15319796

Annual Reports and Financial Statements for the Year Ended 30 November 2025

Ro-Ark Aerospace Limited

Company Information

Ro-Ark Aerospace Limited

STRATEGIC REPORT

FOR THE YEAR ENDED NOVEMBER 30 2025

Introduction

We aim to present a balanced and comprehensive review of the development and performance of our business during the year and it's position at year end. Our review is consistent with the size and non-complex nature of our business and is written in the context of the risks and uncertainties we face.

Business Review

2025 has proven to be a highly successful year as far as the results and the financial position of the company are concerned.

We entered the year with the core aims of growing our “drone detection as a service” business area both in terms of revenue, number of users and also devices deployed. Significant growth was achieved in all 3 areas, this is in no small part due to the wider geopolitical climate relating to the threat of drones and the subsequent budgetary allocation response of many leading nations, specifically the United States.

Further to this growth in the “as a service” model, we have seen exponential growth in our “managed service solution” primarily aimed at the commercial shipping industry and private critical infrastructure.

It is patently obvious from our results that the “as a service model” is fast becoming the first choice for both the public and private sector, globally and we are proud to be the pioneers of this model. We note that multiple large scale RFP's within the industry make specific reference to the adoption/promotion of “as a service” models and we welcomed the procurement shift within the DoD to the “XaaS” model that has enabled us to acquire significant business with no competition procurement. Further, being able to contract on a subscription basis allows us to negate the long- winded and highly over-subscribed tender processes of traditional defence procurement, instead we are able to acquire users at a base level via the use of GPC which is also a big help with our liquidity with most payments returning via EDI within 7 days of issuance via lodged card.

We note that a number of Western nations are committing to spend 5% of GDP on defence by 2035, our model sits well within the operational parameters for governments seeking to achieve this without necessarily incurring up-front capital expenditure.

Within the private sector there has been growing demand for drone detection services, specifically in critical asset protection and venue safety. Once again we find ourselves as a favoured choice due to our zero Cap-Ex models combined with fluid pricing mechanics.

2025 has also seen a number of cross-border projects framed around the integration of unmanned aviation in to the safety management systems of manned aviation and subsequently air traffic control. We have been at the forefront of this integration piece working with multiple agencies globally on delivering a long-lasting and strenuously platform for this new technology requirement.

Toward the end of 2025 we started to derive a new revenue stream from providing targeting data to kinetic interceptor manufacturers via integration in to fire control platforms. This is in response to the growing demand for “hard kill” interception products to combat against aerial threats that have non-traditional emission signatures (no heat or exhaust). We are the only provider with widespread network solutions that can enable both hyper local fire co-ordinates as well as wide area tracking for low RCS projectiles. This new market entrance was reflected in our selection as a core sub-contractor for 11 of the 13 largest (by Mcap) prime entrants to the US's “Golden Dome” initiative.

Ro-Ark Aerospace Limited

STRATEGIC REPORT (Continued)

FOR THE YEAR ENDED NOVEMBER 30 2025

From a manufacturing perspective our focus for the year was on implementing processes that both lowered our BoM per produced device (recorded as own work capitalised) as well as increased our monthly output. We are proud that we achieved our core metric of sub $1,000 production costs and achieving consistent output of 5,000 devices per calendar month. Both of these results were achieved through the acquisition of both new hardware and economies of scale across our supply chain.

We have benefited significantly from the decision to produce our own hardware as opposed to relying on OTS products with the US and many EU countries now prohibiting the use of OTS hardware in any drone detection solutions. Furthermore, the adoption of of the retained ownership hardware policy has enabled us to leverage the potential return from each device produced by not limiting the data output sales channel to specific users per device.

Our goals within the “hosting” element of the business were to increase our potential footprint via the signing of master co-location agreements with at least 4 of the 6 largest cell tower owner/operators globally. We are delighted to have achieved that benchmark level on contracting terms that award us a significant moat against any other operator in the space attempting to replicate our model. Our master agreements require the cell tower owners to notify us of any co-location requests from drone detection equipment suppliers/deployers with us retaining the right to veto any proposed location or arrange a sub-lease. We feel these terms have strengthened our position against new market entrants with them being forced to look at alternative and highly unsuitable hosting solutions such as relying on public participation.

Principal Risks and Uncertainties

Management continue to monitor risks to the business. Key business risks predominantly relate to market competition. Business risks are reviewed regularly by management and appropriate processes are put in place to monitor and mitigate their impact.

The company is exposed to a variety of financial risks which include the following:

Raw Material and Component Acquisition

Whilst we produce the bast majority of our products in-house, we are still exposed to price risks, specifically linked to supply chain restrictions on products such as FPGA's and SoC's. During 2025 we ran a number of external consultancy projects around in-housing production of these components however the decision was taken to continue to acquire from our well established supply chain but with a greater emphasis on demand planning at greater timeframes, we are also now in a position to acquire large volume spot deals due to the improved liquidity position.

Exposure to Credit and Cashflow Risks

Liquidity Risk is the risk that an entity (creditor) will encounter difficulty in meeting its obligations associated with financial liabilities. Cash flow risk is the risk of exposure or variability in cash flows caused by late payments. Less than 3% of our clients (billed during 2025) operate on terms that require liquidity risk intervention and none of these clients are of a rolling monthly exposure that would trigger a cash flow risk. That being said, we insure all of our trade debtors and have a stringent credit control procedure.

Ro-Ark Aerospace Limited

STRATEGIC REPORT (Continued)

FOR THE YEAR ENDED NOVEMBER 30 2025

Financial Key Performance Indicators

As a young, growth stage business in a rapidly changing market, we consider that our key performance indicators are those that communicate the growth of the company as well as the successful implementation of policies designed to lower production costs, these being turnover, number of customers, number of users, churn and devices deployed.

Ro-Ark Aerospace Limited

STRATEGIC REPORT (Continued)

FOR THE YEAR ENDED NOVEMBER 30 2025

Directors statement of compliance with duty to promote the success of the company

Under s.172 of the Companies Act 2006 the directors have a duty to promote the success of the company for the benefit of the members as a whole and they are required to describe how they had regard to the following matters when performing their duties:

The company's key stakeholders comprise it's employees, customers, suppliers and shareholders. The management always consider the interests of these stakeholders when making any decisions.

The company has an average workforce of 244 people, with whom the management maintain a good working relationship and open dialogue through many formal and informal meetings where employee views are sought. The turnover rate of staff is considered important and is closely monitored. The health and safety of staff is considered paramount given the operational nature of the core business product and multiple policies are in place to highlight the importance of this to the company.

Close relationships with key suppliers are maintained by regular conversations and meetings. The company endeavours to pay its suppliers promptly and on agreed and reasonable terms. The company has a strict compliance policy for all suppliers and continually provides KPI's in respect of performance against the required operating standards.

Management and designated account managers frequently meet with all customers to ensure a good ongoing relationship and to ensure that the changing requirements of the customers can be promptly met.

The directors do not believe that the company has a materially significant impact on the community or environment however they are conscious of ensuring operations do no harm either.

The directors recognise the importance of maintaining a reputation for high standards and this is promoted informally throughout the company.

This report was approved by the board on 18^th June 2026 and signed on its behalf.

P Atkinson French

Director

Ro-Ark Aerospace Limited

DIRECTORS REPORT

FOR THE YEAR ENDED NOVEMBER 30 2025

The directors present their report and the financial statements for the year ended 30 November 2025

Directors

The directors who served during the year were

P. Atkinson-French

J.Osborne

D.Walsh

P.Hawkins

Directors Responsibilities Statement

Ro-Ark Aerospace Limited

DIRECTORS REPORT (CONTINUED)

FOR THE YEAR ENDED NOVEMBER 30 2025

Results and Dividends

The loss for the year, after taxation, amounted to £10,522,653 (2024 - loss of £16,561,570)

Dividends of - Nil (2024 - Nil) have been declared and paid during the year

Political Contributions

During the year, the company made political contributions totalling £1,314,228 (2024 - £271,442)

Charitable Donations

During the year, the company made charitable donations totalling £139,400 (2024- £8,187)

Future Developments

As described in post-balance sheet events, the Directors expected to close an equity funding round of £162,000,000 by the end of 2025.

Research and Development

Significant research and development activities were undertaken by the company with R&D credits owed totalling £1,031,227

Engagement with Employees

The company keeps employees informed of matters affecting them as employees and the full financial and economic factors affecting the company. There are procedures in place for employees to make their views known to management so that the flow of information is maintained.

Disabled Employees

Ro-Ark Aerospace Limited

DIRECTORS REPORT (CONTINUED)

FOR THE YEAR ENDED NOVEMBER 30 2025

Disclosure of information to auditors

Post Balance Sheet Events

The company has disclosed an equity investment of £162,000,000 that resulted in a share premium of £161,847,921

Auditors

Under section 487(2) of the Companies Act 2006, REDACTED under Section 506 of the Companies Act will be deemed to be appointed as auditors 28 days after these financial statements were sent to members or 28 days after the latest date prescribed for filing the account with the registrar, whichever is earlier.

This report was approved by the board on June 18^th 2026 and signed on its behalf.

P Atkinson French

Director

INDEPENDENT AUDITORS REPORT TO THE MEMBERS OF RO-ARK AEROSPACE LIMITED

Opinion

Basis for 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 accounts 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 at least a period of 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.

INDEPENDENT AUDITORS REPORT TO THE MEMBERS OF RO-ARK AEROSPACE LIMITED (CONTINUED)

Other information

Opinion on other matters prescribed by the Companies Act 2006

Matters on which we are required to report by exception

INDEPENDENT AUDITORS REPORT TO THE MEMBERS OF RO-ARK AEROSPACE LIMITED (CONTINUED)

Responsibilities of directors

INDEPENDENT AUDITORS REPORT TO THE MEMBERS OF RO-ARK AEROSPACE LIMITED (CONTINUED)

This description forms part of our Auditors' report.

Use of our report

In respect of the publication of the Auditor's report and the subsequent appearance of the Auditor's details on filed and/or published copies in consideration of the nature of the Company's core business, we requested that prior to our appointment as auditor, the company passed a resolution in accordance with section 506 of the Companies Act 2006 that the auditor's name should not be stated on public record.

Ro-Ark Aerospace Limited

Company Number: 15319796

Consolidated Statement of Profit or Loss and Other Consolidated Income

Ro-Ark Aerospace Limited

Consolidated Statement of Financial Position Balance Sheet

Ro-Ark Aerospace Limited

Consolidated Statement of Financial Position Balance Sheet

Signed by: P Atkinson-French

Director

Ro-Ark Aerospace Limited

Notes to the Consolidated Financial Statements

1     Revenue recognised in the consolidated statement of profit or loss is analysed as follows

2     Own Work Capitalised in the consolidated state of profit or loss is analysed ae follows

Roark manufacture the DdaaS device for a BOM of $701. These devices are then installed at partner locations. Ownership remains that of Roark, devices are not sold nor do they form part of any sales contract.

4     Income Tax Expense

The major components of income tax expense are

Ro-Ark Aerospace Limited

Notes to the Consolidated Financial Statements

5     Property, Plant and Equipment

6     Intangible Assets

Ro-Ark Aerospace Limited

Notes to the Consolidated Financial Statements

8     Inventory

9     Trade and other receivables

10     Cash and Equivalents

11     Issued Share Capital

The share capital at 30 November 2025 is analysed as follows:

Ro-Ark Aerospace Limited

Notes to the Consolidated Financial Statements

12     Financial Liabilities

Note: CLN that will convert to equity at the next priced round, if equity does not convert the amount due will fall in the next financial year

13     Capital Commitments

Ro-Ark Aerospace Limited

Notes to the Consolidated Financial Statements

14     Trade and other payables

15     Other Reserves

Ro-Ark Aerospace Limited

STATEMENT OF CASH FLOWS

FOR THE YEAR ENDED 30 NOVEMBER 2025

Ro-Ark Aerospace Limited

Region Specific Revenue Breakdown

NA- £96,414,228

EMEA- £29,322,403

APAC- £14,717,211

LATAM- £2,777,498

Post Balance Sheet Events