wk-2025-12-31-ixbrl

HIRERIGHT LTD

Strategic Report

For the Year Ended 31 December 2025

The Directors of the Company present their Strategic Report on the affairs of the Company together

with the audited financial statements for the year ended 31 December 2025.

Introduction

The Company is a wholly owned subsidiary of the Group and is ultimately owned by the Parent. The

shareholders of the Parent are investment funds managed by General Atlantic LLC and Stone Point Capital

LLC.

HireRight Ltd ("our", "we" or the "Company") is wholly owned by the Group. The Company is ultimately

owned by the Parent, headquartered in the United States of America. It is a provider of pre-employment

and post-employment background screening services for both domestic and global clients. Service

offerings include criminal background checks, prior employment, education and professional licensing

verifications and motor vehicle checks amongst other related services.

Business review

Comment on year 2025 earnings:

During 2025, the Company's revenue increased by approximately 11% compared with 2024, primarily due

to increased same-store sales. Comprehensive income decreased 53%, primarily due to increased labor

costs. Management expects the market environment to remain stable and anticipates continued revenue

growth in the coming periods.

Comment on 2026 priorities:

We entered 2026 in a constrained demand environment. To maintain momentum, the Company plans to

accelerate differentiation through expanding new customer sales capacity, product offerings and

technology investments to improve operational resilience.

Principal risks and uncertainties

The principal business risks are confidence in and health of the global economy. Our business is to partner

with and support our clients, as such we are dependent upon regional, sector and economic factors. The

Company aims to mitigate risk by diversifying services into as many market sectors as economically

possible.

Financial key performance Indicators

- Turnover from operations for year 2025 was £35,222,965 (2024 - £31,836,357)

- Net assets as at 31 December 2025 amounted to £14,843,167 (2024 - £14,131,767)

- The gross profit margin for year 2025 was 33% (2024 - 31%)

- The profit before taxation for year 2025 was £1,023,300 (2024 - £1,916,089)

HIRERIGHT LTD

Strategic Report (continued)

For the Year Ended 31 December 2025

Directors' statement of compliance with duty to promote the success of the Group (Section 172 (1)

statement)

Directors of the Company are required to act in a way that they consider, in good faith, to be most likely to

promote the success of the Company for the benefit of its members as a whole, and in so doing have

regard, among other matters to:

- the likely consequences of any decision in the long term;

- the interests of the Company's employees;

- the need to foster the Company's business relationships with suppliers, customers and others;

- the impact of the Company's operations on the community and the environment;

- the desirability of the Company maintaining a reputation for high standards of business conduct; and

- the need to act fairly as between members of the Company.

The following paragraphs summarise how the Directors' fulfil their duties:

Customers

The Company operates within the increasingly wide variety of organisations that exist in today's global

business environment. By offering a high quality service, the Company is aiming to become the world's

most respected, most accurate, most accessible background screening and workforce solutions partner.

We are a market leader in regulated and risky industries, with deep expertise to serve complex

customers. The new business and expansion pipeline remains robust.

Employees

Team Members are the core of our organisation. The management continued 'Town Hall' meeting sessions

with all the employees, where management presented the current position of the Company and forecast.

Employees were encouraged to ask questions about the business, its strategy, performance and current

initiatives. These sessions provide Directors with the opportunity to gather feedback from employees.

Additionally, once a year the Company launches 'Organisational Health Survey' to all Team Members

globally. This survey covers topics like organizational direction, leadership, performance management,

operational effectiveness, communication, culture and more. This is an opportunity to share employees'

feelings and detailed feedback and allows management to collect expressive data around the current

health of the organisation.

Culture and values

As a company we solicited the input of over 1,000 HireRight global Team Members about what matters

most when providing and receiving high quality customer service, and· building strong teams. Culture

teams and marketing worked with the results to hone in on the characteristics that enable HireRight to

stand out among its competition, meet and exceed customer expectations, and cultivate a solid global

work environment. Our CORE4 values (Service-First Mindset, Grounded in Respect, Collaborative Spirit,

Sense of Ownership) keep us firmly rooted, whilst giving us the freedom to grow and thrive as a company,

and individually.

HIRERIGHT LTD

Strategic Report (continued)

For the Year Ended 31 December 2025

Community and environment

HireRight is committed to a sustainable, environmentally conscious and socially responsible future. We

specialise in helping organisations effectively implement, manage and control their screening

programmes. By offering web-based background screening solutions, we are constantly reducing the use

of paper in our internal departments and have helped our customers reduce their paper use. Through

innovation and technology, we have designed our systems to help automate a very paper-heavy industry.

Every day we strive to reduce our carbon footprint. HireRight understands the importance of giving back

to our communities. Our employees are encouraged and given time off work to participate in charitable

volunteer work.

Greenhouse gas emissions, energy consumption and energy efficiency action

The Group has taken the exemption available to subsidiary companies not to disclose information in

respect of greenhouse gas emissions, energy consumption and energy efficiency action given this is

disclosed in the consolidated financial statements of the Group.

This report was approved by the board on 07 October 2026 and signed on its behalf.

P W N Cleverton

Director

HIRERIGHT LTD

Directors' Report

For the Year Ended 31 December 2025

The Directors present their report and the audited financial statements for the year ended 31 December 2025.

Principal activities

The principal activity of the Company continued to be that of providing background and pre-employment

screening and investigation services.

The Company is a wholly owned subsidiary of the Group and is ultimately owned by the Parent. The

shareholders of the Parent are investment funds managed by General Atlantic LLC and Stone Point

Capital LLC.

Results and dividends

The profit for the year, after taxation, amounted to £711,400 (2024 - £1,502,040).

No dividends were paid in 2025 (2024 - £Nil). The Directors do not recommend nor propose the payment

of a final dividend for the year (2024 - £Nil).

Directors

The Directors who were in office during the year and up to the date of signing the financial statements

were:

P W N Cleverton (appointed 24 January 2024)

R Hazra (appointed 5 December 2024 and resigned 14 April 2026)

R Lowe (appointed 30 July 2026)

C Smith (appointed 24 January 2024)

Qualifying third party indemnity provisions

During the financial year and up to the date of signing the financial statements, the Company maintained

liability insurance for its Board of Directors and officers, which is a qualifying third party indemnity provision for

the purposes of the Companies Act 2006.

Going concern

The Company finances its operations through cash, intercompany loans and intercompany balances.

As at 31 December 2025, the Company had cash balances of £4,491,317 (2024 - £5,067,013) and

amounts owed to fellow group companies of £3,345,667 (2024 - £5,090,923). As at 31 December 2025

and 31 December 2024, there were no amounts due to subsidiaries. As at 31 December 2025, there were

amounts owed by group undertakings of £5,076,152 (2024 - £4,956,167) out of which an intercompany

loan to HireRight Canada amounted to £2,748,174 (2024 - £2,786,978).

There are no formal repayment terms for the intercompany loans and intercompany balances. The

Directors have obtained confirmation from the Parent that the intercompany receivables will be settled by

HireRight LLC, if required, in order to allow the Company to meet their liabilities as they fall due.

HIRERIGHT LTD

Directors' Report (continued)

For the Year Ended 31 December 2025

Going concern (continued)

The Parent has confirmed that it has a clear understanding of the strategy and business plan of the

Company, including the Company's projected funding requirements for at least the next 12 months from

the date of the financial statements. The Parent will provide financial support to the Company such that

the Company is able to operate as a going concern and to settle its liabilities as they fall due. This financial

support will include:

- not seeking the repayment of amounts advanced to the Company by the Parent and/or other members

of the Parent group unless adequate alternative financing has been secured by the Company: and

- advancing further amounts to the Company as required by the Company.

In providing this assurance, the Parent has taken full account of its own funding requirements, obligations

and commitments for the same period as this letter covers. Further, the Parent has undertaken that this will

remain in place for the foreseeable future and will not be withdrawn during a period of 12 months from the

date of the financial statements.

Management monitors the situation on global on-going and probable military conflicts to assess the

potential impact on the business. At the time of signing the financial statements the on-going conflicts do

not have a significant impact on the business and Company's operations.

The Directors have reviewed the going concern status of the Company by considering the cash and

intercompany borrowing position of the Company at 31 December 2025, the anticipated level of trading

activity and the continued availability of funding from Group companies taking into account the impact of

the general global economic situation on the business and the wider group in 2025 and beyond, for at

least 12 months from the date of signing of financial statements and its anticipated continued impact.

Based on this review the Directors have concluded that the going concern basis should be used in the

preparation of the financial statements.

Financial risk management objectives and policies

Cash flow risk

The Company manages its cash resources by considering the forecast timing of cash flows from

customer receipts and forecast cash flows from the payment of payroll costs, administrative expenses,

bank interest and other liabilities, together with the timing of the repayments relating to intercompany

loans and balances. The timing of cash receipts and payments is reviewed on a monthly basis and any

anticipated changes are considered in the light of future working capital requirements and the availability

of cash and group borrowing facilities.

Credit risk

The Company's principal financial assets are investments, bank balances and trade and other debtors.

The credit risk on trade debtor balances is mitigated by the Company's credit control facilities.

Liquidity risk

The Company manages liquidity risk by reviewing the future net cash requirements of the business, by

holding cash balances to fund short term requirements.

Interest rate risk

The Company remains cash positive and a funding source for the rest of the group, so interest rate risk is

considered to be low.

HIRERIGHT LTD

Directors' Report (continued)

For the Year Ended 31 December 2025

Price risk

The Company manages price risk by entering into contracts with specific pricing terms.

Future developments

In 2026, the Company is planning to continue its expansion and increase its global market share

by strengthening its position in EMEA markets and APAC regions. Additionally, our priority is to accelerate

differentiation though new partnerships and solutions to support growth and a more efficient fulfilment chain.

Lastly, we aim to leverage technology and analytics to improve turnaround times, costs, and operational

effectiveness.

During 2026, the Parent acquired an artificial intelligence software company that, once integrated, is

expected to have significant positive impact on the Company's fulfilment efficiency and scalability

Disclosure of information to auditors

Each of the persons who are Directors at the time when this Directors' Report is approved has confirmed that:

- so far as the Director is aware, there is no relevant audit information of which the Company's auditors

are unaware, and

- the Director has taken all the steps that ought to have been taken as a Director in order to be aware of

any relevant audit information and to establish that the Company's auditors are aware of that

information.

Independent Auditors

The auditors, PricewaterhouseCoopers LLP, will be proposed for reappointment in accordance with

section 485 of the Companies Act 2006.

This report was approved by the board on 07 October 2026 and signed on its behalf.

P W N Cleverton

Director

HIRERIGHT LTD

Directors' Responsibilities Statement in respect of the financial statements

For the Year Ended 31 December 2025

The Directors are responsible for preparing the Strategic Report, the Directors' Report and the financial

statements in accordance with applicable law and regulation.

Company law requires the Directors to prepare financial statements for each financial year. Under that law

the Directors have prepared the financial statements in accordance with United Kingdom Generally Accepted

Accounting Practice (United Kingdom Accounting Standards, comprising FRS 102 “The Financial Reporting

Standard applicable in the UK and Republic of Ireland“, and applicable law).

Under law, 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 of the profit or loss of the Company 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;

- state whether applicable United Kingdom Accounting Standards, comprising FRS 102 have been

followed, subject to any material departures disclosed and explained in the financial statements; and

- 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 safeguarding the assets of the Company and hence for taking reasonable

steps for the prevention and detection of fraud and other irregularities.

The Directors are 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 to enable them to ensure that the financial statements comply with the Companies Act

2006.

Independent auditors’ report to the members of Hireright Limited

Report on the audit of the financial statements

Opinion

In our opinion, Hireright Limited’s 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

- (United Kingdom Accounting Standards, including FRS 102 "The Financial Reporting Standard applicable

in the UK and Republic of Ireland", and applicable law); and

- have been prepared in accordance with the requirements of the Companies Act 2006.

We have audited the financial statements, included within the Annual Report and Financial Statements (the

"Annual Report"), which comprise:

- the Statement of Financial Position as at 31 December 2025;

- the Statement of Comprehensive Income for the year then ended;

- the Statement of Changes in Equity for the year then ended; and

- the notes to the financial statements, which include a description of the significant accounting policies.

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) ("ISAs (UK)") and

applicable law. Our responsibilities under ISAs (UK) are further described in the Auditors’ responsibilities for

the audit of the financial statements section of our report. We believe that the audit evidence we have

obtained is sufficient and appropriate to provide a basis for our opinion.

Independence

We remained independent of the company in accordance with the ethical requirements that are relevant to our

audit of the financial statements in the UK, which includes the FRC’s Ethical Standard, and we have fulfilled our

other ethical responsibilities in accordance with these requirements.

Conclusions relating to going concern

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.

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.

However, because not all future events or conditions can be predicted, this conclusion is not a guarantee as to

the company's ability to continue as a going concern.

Our responsibilities and the responsibilities of the directors with respect to going concern are described in the

relevant sections of this report.

Reporting on other information

The other information comprises all of the information in the Annual Report other than the financial

statements and our auditors’ report thereon. The directors are responsible for the other information. Our

opinion on the financial statements does not cover the other information and, accordingly, we do not express

an audit opinion or, except to the extent otherwise explicitly stated in this report, any form of assurance

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 an

apparent material inconsistency or material misstatement we are required to perform procedures to

conclude whether there is a material misstatement of the financial statements or a material misstatement

of the other information. 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 based

on these responsibilities.

With respect to the Strategic report and Directors' Report, we also considered whether the disclosures

required by the Companies Act 2006 have been included.

Based on our work undertaken in the course of the audit, the Companies Act 2006 requires us also to report

certain opinions and matters as described below.

Strategic report and Directors' Report

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

Strategic report and Directors' Report for the year ended 31 December 2025 is consistent with the financial

statements and has been prepared in accordance with applicable legal requirements.

In light of the knowledge and understanding of the company and its environment obtained in the course of

the audit, we did not identify any material misstatements in the Strategic report and Directors' Report.

Responsibilities for the financial statements and the audit

Responsibilities of the directors for the financial statements

As explained more fully in the Directors' Responsibilities Statement in respect of the financial statements, the

directors are responsible for the preparation of the financial statements in accordance with the applicable

framework and for being satisfied that they give a true and fair view. The directors are also responsible for

such internal control as they determine is 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.

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 an auditors’ report 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.

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design

procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of

irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities,

including fraud, is detailed below.

Based on our understanding of the company and industry, we identified that the principal risks of non-

compliance with laws and regulations related to data protection regulations, and we considered the extent

to which non-compliance might have a material effect on the financial statements. We also considered those

laws and regulations that have a direct impact on the financial statements such as Companies Act 2006 and

taxation legislation relevant to the company's operations. We evaluated management’s incentives and

opportunities for fraudulent manipulation of the financial statements (including the risk of override of

controls), and determined that the principal risks were related to posting inappropriate journal entries to

manipulate financial results and management bias in determining accounting estimates. Audit procedures

performed by the engagement team included:

- Discussion with management in relation to known or suspected instances of non-compliance with laws

and regulation and fraud;

- Identifying and testing journal entries using a risk- based approach, in particular any journal entries

posted that involve unusual account combinations;

- Reviewing minutes of meetings of those charged with governance;

- Evaluating an challenging assumptions and judgements made by management in determining accounting

estimates; and

- Reviewing financial statement disclosures and testing to supporting documentation to assess compliance

with applicable laws and regulations.

There are inherent limitations in the audit procedures described above. We are less likely to become aware

of instances of non-compliance with laws and regulations that are not closely related to events and

transactions reflected in the financial statements. Also, 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.

A further description of our responsibilities for the audit of the financial statements is located on the FRC’s

website at: www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditors’ report.

Use of this report

This report, including the opinions, has been prepared for and only for the company's members as a body in

accordance with Chapter 3 of Part 16 of the Companies Act 2006 and for no other purpose. We do not, in giving

these opinions, accept or assume responsibility for any other purpose or to any other person to whom this report

is shown or into whose hands it may come save where expressly agreed by our prior consent in writing.

Other required reporting

Companies Act 2006 exception reporting

Under the Companies Act 2006 we are required to report to you if, in our opinion:

- we have not obtained all the information and explanations we require for our audit; or

- adequate accounting records have not been kept by the company, or returns adequate for our audit have

not been received from branches not visited by us; or

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

- certain disclosures of directors’s remuneration specified by law are not made.

We have no exceptions to report arising from this responsibility.

Edward Gregory (Senior Statutory Auditor)

for and on behalf of PricewaterhouseCoopers

LLP Chartered Accountants and Statutory

Auditors London

07 October 2026

HIRERIGHT LTD

Registered number: 04036193

Statement of Comprehensive Income

As at 31 December 2025


	Note	2025	2024
		£	£
Turnover	4	35,222,965	31,836,357
Cost of sales		(23,433,442)	(21,808,202)
Gross profit		11,789,523	10,028,155
Administrative expenses		(11,366,889)	(8,656,237)
Other operating income	5	343,410	269,607
Operating profit	6	766,044	1,641,525
Interest receivable and similar income	10	257,256	274,564
Profit before tax		1,023,300	1,916,089
Tax on profit	11	(311,900)	(414,049)
Profit for the financial year		711,400	1,502,040

There was no other comprehensive income for 2025 (2024 - £Nil).

The notes form part of these financial statements.

HIRERIGHT LTD

Registered number: 04036193

Statement of Financial Position

As at 31 December 2025


	Note	2025	2025	2024	2024
		£	£	£	£
Fixed assets
Tangible assets	12		1,165,941		1,800,360
Investments	13		37,524		37,524
			1,203,465		1,837,884
Current assets
Debtors	14	15,177,395		16,033,331
Cash at bank and in hand		4,491,317		5,067,013
		19,668,712		21,100,344
Creditors: amounts falling due within one year	15	(5,878,901)		(8,375,525)
Net current assets			13,789,811		12,724,819
Total assets less current liabilities			14,993,276		14,562,703
Creditors: amounts falling due after more than one year	16		(53,525)		(51,717)
Deferred tax	17		(96,584)		(256,849)
Provisions for other liabilities	18		—		(122,370)
Net assets			14,843,167		14,131,767
Capital and reserves
Called up share capital	19		682		682
Profit and loss account	20		14,842,485		14,131,085
Total equity			14,843,167		14,131,767

The financial statements were approved and authorised for issue by the board and were signed on its behalf

on 07 October 2026

P W N Cleverton

Director

The notes form part of these financial statements.

HIRERIGHT LTD

Registered number: 04036193

Statement of Changes in Equity For the Year

Ended 31 December 2025


	Called up share capital	Profit and loss account	Total equity
	£	£	£
At 1 January 2025	682	14,131,085	14,131,767
Comprehensive income for the year
Profit for the year	—	711,400	711,400
Total comprehensive Income for the year	—	711,400	711,400
At 31 December 2025	682	14,842,485	14,843,167

Statement of Changes In Equity
For the Year Ended December 31, 2024

	Called up share capital	Profit and loss account	Total equity
	£	£	£
At 1 January 2024	682	12,629,045	12,629,727
Comprehensive income for the year
Profit for the year	—	1,502,040	1,502,040
Total comprehensive Income for the year	—	1,502,040	1,502,040
At 31 December 2024	682	14,131,085	14,131,767

The notes form part of these financial statements.

HIRERIGHT LTD

Notes to the Financial Statements

For the Year Ended 31 December 2025

1. General information

HireRight Ltd is a private company limited by shares and incorporated in United Kingdom under the

Companies Act 2006. The address of the registered office is given on the Company Information

page and the nature of the Company's operations and its principal activities are set out in the

Director's Report.

2. Accounting policies

2.1 Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless

otherwise specified within these accounting policies and in accordance with Financial

Reporting Standard 102 ("FRS 102"), 'the Financial Reporting Standard applicable in the UK

and the Republic of Ireland' and the Companies Act 2006.

The preparation of financial statements in compliance with FRS 102 requires the use of certain

critical accounting estimates. It also requires management to exercise judgement in applying

the Company's accounting policies (see note 3).

The presentational and functional currency of these financial statements is GBP. Values are

rounded to the nearest £1.

The accounting policies have been applied consistently throughout the year, except where new

policies have been adopted.

The following principal accounting policies have been applied:

2.2 FRS 102 - reduced disclosure exemptions

The Company has taken advantage of the following disclosure exemptions in preparing

these financial statements, as permitted by the FRS 102:

▪ the requirements of Section 7 Statement of Cash Flows;

▪ the requirements of Section 3 Financial Statement Presentation paragraph 3.17(d);

▪ the requirements of Section 11 Financial Instruments paragraphs 11.42, 11.44 to 11.45,

11.47, 11.48(a)(iii), 11.48(a)(iv), 11.48(b) and 11.48(c);

▪ the requirements of Section 12 Other Financial Instruments paragraphs 12.26 to

12.27, 12.29(a), 12.29(b) and 12.29A; and

▪ the requirements of Section 33 Related Party Disclosures paragraph 33.7.

This information is included in the consolidated financial statements of the Group as at

31 December 2025 and these financial statements may be obtained from 20 Water Street,

Canary Wharf, London, E14 5GX, United Kingdom.

2.3 Exemption from preparing consolidated financial statements

The Company is a parent company, as well as, a subsidiary included in the consolidated

financial statements of the Parent undertaking established under the law of the United

Kingdom and is therefore exempt from the requirement to prepare consolidated financial

statements under section 400 of the Companies Act 2006.

HIRERIGHT LTD

Notes to the Financial Statements

For the Year Ended 31 December 2025

2.Accounting policies (continued)

2.4 Going concern

As at 31 December 2025, the Company had cash balances of £4,491,317 (2024 - £5,067,013),

amounts owed to fellow group companies of £3,345,667 (2024 - £5,090,923). The amounts

owed to fellow group companies comprise balances with HireRight LLC and HireRight Japan.

As at 31 December 2025 and 31 December 2024, there were no amounts due to subsidiaries.

As at 31 December 2025, there were amounts owed by group undertakings of £5,076,152

(2024 - £4,956,167) out of which an intercompany loan to HireRight Canada amounted to

£2,748,174 (2024 - £2,786,978).

There are no formal repayment terms for the intercompany loans and intercompany balances.

The Directors have obtained confirmation from the Parent, that the intercompany receivables

will be settled by HireRight LLC, if required, in order to allow the Company to meet their

liabilities as they fall due.

The Parent has confirmed that it has a clear understanding of the strategy and business plan of

the Company, including the Company's projected funding requirements for at least the next 12

months from the date of the financial statements. The Parent will provide financial support to

the Company such that the Company is able to operate as a going concern and to settle its

liabilities as they fall due. This financial support will include:

- not seeking the repayment of amounts advanced to the Company by the Parent and/or

other members of the Parent group unless adequate alternative financing has been

secured by the Company; and

- advancing further amounts to the Company as required by the Company.

In providing this assurance, the Parent has taken full account of its own funding requirements,

obligations and commitments for the same period as this letter covers. Further, the Parent has

undertaken that this will remain in place for the foreseeable future and will not be withdrawn

during a period of 12 months from the date of the financial statements.

Management monitors the situation on global on-going and probable military conflicts to assess

the potential impact on the business. At the time of signing the financial statements the on-going

conflicts do not have a significant impact on the business and Company's operations.

The Directors have reviewed the going concern status of the Company by considering the cash

and intercompany borrowing position of the Company at 31 December 2025, the anticipated

level of trading activity and the continued availability of funding from Group companies taking

into account the impact of the general global economic situation on the business and the wider

group in 2025 and beyond, for at least 12 months from the date of signing of financial

statements and its anticipated continued impact. Based on this review the Directors have

concluded that the going concern basis should be used in the preparation of the financial

statements.

HIRERIGHT LTD

Notes to the Financial Statements

For the Year Ended 31 December 2025

2.Accounting policies (continued)

2.5 Foreign currency translation, transaction and balances

Foreign currency transactions are translated into the functional currency using the spot

exchange rates at the dates of the transactions.

At each period, end foreign currency monetary items are translated using the closing rate. Non-

monetary items measured at historical cost are translated using the exchange rate at the date

of the transaction and non-monetary items measured at fair value are measured using the

exchange rate when fair value was determined.

Foreign exchange gains and losses resulting from the settlement of transactions and from the

translation at period-end exchange rates of monetary assets and liabilities denominated in

foreign currencies are recognised in the Statement of Comprehensive Income except when

deferred in other comprehensive income as qualifying cash flow hedges.

Foreign exchange gains and losses that relate to borrowings and cash and cash equivalents

are presented in the Statement of Comprehensive Income within 'finance income or costs'. All

other foreign exchange gains and losses are presented in the Statement of Comprehensive

Income within 'administrative expenses'.

2.6 Turnover

Turnover is recognised to the extent that it is probable that the economic benefits will flow to

the Company and the turnover, can be reliably measured. Turnover is measured as the fair

value of the consideration received or receivable, excluding discounts, rebates, value added

tax and other sales taxes. Turnover is recognised when testing services have been performed

and the related screening report has been provided to the customer.

2.7 Operating leases: the Company as lessee

Rentals paid under operating leases are charged to the Statement of Comprehensive Income

on a straight-line basis over the lease term.

Benefits received and receivable as an incentive to sign an operating lease are recognised on

a straight-line basis over the lease term, unless another systematic basis is representative of

the time pattern of the lessee's benefit from the use of the leased asset.

2.8 Interest Income

Interest income is recognised in the Statement of Comprehensive Income using the effective

interest method.

2.9 Finance costs

Finance costs are charged to the Statement of Comprehensive Income over the term of the

debt using the effective interest method so that the amount charged is at a constant rate on the

carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the

associated capital instrument.

HIRERIGHT LTD

Notes to the Financial Statements

For the Year Ended 31 December 2025

2.Accounting policies (continued)

2.10 Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution

plan is a pension plan under which the Company pays fixed contributions into a separate entity.

Once the contributions have been paid, the Company has no further payment obligations.

The contributions are recognised as an expense in the Statement of Comprehensive Income

when they fall due. Amounts not paid are shown in accruals as a liability in the Statement of

Financial Position. The assets of the plan are held separately from the Company in

independently administered funds.

2.11 Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in the

Statement of Comprehensive Income except that a charge attributable to an item of income

and expense recognised as other comprehensive income or to an item recognised directly in

equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been

enacted or substantively enacted by the reporting date in the countries where the Company

operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but

not reversed by the reporting date, except that:

▪ The recognition of deferred tax assets is limited to the extent that it is probable that they

will be recovered against the reversal of deferred tax liabilities or other future taxable

profits; and

▪ Any deferred tax balances are reversed if and when all conditions for retaining

associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in

respect of business combinations, when deferred tax is recognised on the differences between

the fair values of assets acquired and the future tax deductions available for them and the

differences between the fair values of liabilities acquired and the amount that will be assessed

for tax. Deferred tax is determined using tax rates and laws that have been enacted or

substantively enacted by the reporting date.

2.12 Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated

depreciation and any accumulated impairment losses. Historical cost includes expenditure that

is directly attributable to bringing the asset to the location and condition necessary for it to be

capable of operating in the manner intended by management.

HIRERIGHT LTD

Notes to the Financial Statements

For the Year Ended 31 December 2025

2. Accounting policies (continued)

2.12 Tangible fixed assets (continued)

Depreciation is charged so as to allocate the cost of assets less their residual value over

their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:


Land and buildings leasehold	- 3 years straight line
Asset retirement obligations	- Same as the respective asset
Fixtures, fittings and equipment	- 3 to 5 years
Computer equipment	- 3 years
Construction in progress	- not depreciated

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted

prospectively if appropriate, or if there is an indication of a significant change since the last

reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying

amount and are recognised in the Statement of Comprehensive Income.

2.13 Impairment of fixed assets

At each reporting period end date, the Company reviews the carrying amount of its tangible

assets to determine whether there is any indication that those assets have suffered an

impairment loss. If any such indication exists, the recoverable amount of the asset is estimated

in order to determine the extent of the impairment loss (if any). Where it is not possible to

estimate the recoverable amount of an individual asset, the Company estimates the

recoverable amount of the cash-generating unit to which the asset belongs.

Recoverable amount is the higher of fair value less costs to sell and value in use. In assessing

value in use, the estimated future cash flows are discounted to their present value using a pre-

tax·discount rate that reflects current market assessments of the time value of money and the

risks specific to the asset for which the estimates of future cash flows have not been adjusted.

If the recoverable amount of an asset (or cash-generating unit) is estimated to be less than its

carrying amount, the carrying amount of the asset (or cash-generating unit) is reduced to its

recoverable amount. An impairment loss is recognised immediately in the Statement of

Comprehensive Income, unless the relevant asset is carried at a revalued amount, in

which·case the impairment loss is treated as a revaluation decrease.

Recognised impairment losses are reversed if, and only if, the reasons for the impairment loss

have ceased to apply. Where an impairment loss subsequently reverses, the carrying amount of

the asset (or cash-generating unit) is increased to the revised estimate of its recoverable

amount, but so that the increased carrying amount does not exceed the carrying amount that

would have been determined had no impairment loss been recognised for the asset (or cash-

generating unit) in prior years. A reversal of an impairment loss is recognised immediately in

the Statement of Comprehensive Income, unless the relevant asset is carried at a revalued

amount, in which case the reversal of the impairment loss is treated as a revaluation increase.

HIRERIGHT LTD

Notes to the Financial Statements

For the Year Ended 31 December 2025

2.Accounting policies (continued)

2.14 Valuation of Investments

Investments in subsidiaries are measured at cost less accumulated impairment.

2.15 Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable

are measured initially at fair value, net of transaction costs, and are measured subsequently at

amortised cost using the effective interest method, less any impairment.

2.16 Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without

penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that

mature in no more than three months from the date of acquisition and that are readily

convertible to known amounts of cash with insignificant risk of change in value.

2.17 Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including

bank loans, are measured initially at fair value, net of transaction costs, and are measured

subsequently at amortised cost using the effective interest method.

2.18 Provisions for liabilities

Provisions are recognised when an event has taken place that gives rise to a legal or

constructive obligation, a transfer of economic benefits is probable and a reliable estimate can

be made.

Provisions are measured as the best estimate of the amount required to settle the obligation,

taking into account the related risks and uncertainties.

Increases in provisions are generally charged as an expense to the Statement of

Comprehensive Income.

2.19 Financial instruments

The Company only enters into basic financial instrument transactions that result in the

recognition of financial assets and liabilities like trade and other debtors and creditors, loans

from banks and other third parties, loans to related parties and investments in ordinary shares.

Debt instruments (other than those wholly repayable or receivable within one year), including

loans and other accounts receivable and payable, are initially measured at present value of the

future cash flows and subsequently at amortised cost using the effective interest method. Debt

instruments that are payable or receivable within one year, typically trade debtors and creditors,

are measured, initially and subsequently, at the undiscounted amount of the cash or other

consideration expected to be paid or received; 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 in case of an out-right short-term loan that is not at market rate, the

financial asset or liability is measured, initially at the present value of future cash flows

discounted at a market rate of interest for a similar debt instrument and subsequently at

amortised cost.

HIRERIGHT LTD

Notes to the Financial Statements

For the Year Ended 31 December 2025

2. Accounting policies (continued)

2.19 Financial instruments (continued)

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 the Statement of Comprehensive Income.

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 best estimate of the recoverable amount,

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.

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.

2.20 Equity instruments

Equity instruments issued by the Company are recorded at the proceeds received, net of direct

issue costs. Dividends payable on equity instruments are recognised as liabilities once they are

no longer at the discretion of the Company.

3.Judgements In applying accounting policies and key sources of estimation uncertainty

In the application of the Company's accounting policies, the Directors are required to make

judgements estimate and assumptions about the carrying amount of assets and liabilities that are

not readily apparent from other sources. The estimates and associated assumptions are based on

historical experience and other factors that are considered to be relevant. Actual results may differ

from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to

accounting estimates are recognised in the period In which the estimate is revised where the revision

affects only that period, or in the period of the revision and future periods where the revision affects

both current and future periods. The Directors do not consider there to be any critical accounting

judgements, estimates or assumptions made in the preparation of these financial statements.

HIRERIGHT LTD

Notes to the Financial Statements

For the Year Ended 31 December 2025

4.Turnover

The whole of the turnover is attributable to the principal activities of the Company.

Analysis of turnover by country of destination:


	2025	2024
	£	£
United Kingdom	18,974,029	17,691,049
Rest of Europe	8,807,512	7,843,118
Rest of the World	7,441,424	6,302,190
	35,222,965	31,836,357

5.Other operating income


	2025	2024
	£	£
Change in the provision for lease cease liability	61,992	269,607
Subrental lease income	280,192	—
Other operating income	1,226	—
	343,410	269,607

6.Operating profit


	2025	2024
	£	£
Depreciation of tangible fixed assets	723,639	725,136
Exchange differences	410,360	233,902
Profit on sale of tangible fixed assets	—	(10,000)
Reorganisation costs	—	374,248
Defined contribution pension cost	205,589	181,709

Reorganisation costs represent ex-gratia (severance) payments made to resigning Directors.

7.Auditors' remuneration


	2025	2024
	£	£
Fees payable to the Company's auditors for the audit of the Company's financial statements	60,069	59,000

There are no fees paid or payable to the Company's auditors for non-audit services in 2025 (2024 -

£Nil).

HIRERIGHT LTD

Notes to the Financial Statements

For the Year Ended 31 December 2025

7.Auditors' remuneration (continued)

The directors have agreed with the company's auditors that the auditor's liability to damages for

breach of duty in relation to the audit of the company's financial statements for the year to 31

December 2025 should be limited to the greater of £5 million or 5 times the auditor's fees, and that in

any event the auditor's liability for damages should be limited to that part of any loss suffered by the

company as is just and equitable having regard to the extent to which the auditor, the company and

any third parties are responsible for the loss in question. The shareholders approved this limited

liability agreement, as required by the Companies Act 2006, by a resolution dated 7 May 2026.

8.Employees

Staff costs, including Directors' remuneration, were as follows:


	2025	2024
	£	£
Wages and salaries	6,733,937	5,576,786
Social security costs	1,113,080	789,966
Cost of defined contribution scheme	205,589	181,709
	8,052,606	6,548,461

The average monthly number of employees, including the Directors, during the year was as follows:


	2025	2024
	Number	Number
Operational	45	46
Administration	49	44
	94	90

9. Director's remuneration


	2025	2024
	£	£
Directors' emoluments	690,387	703,424
Company contributions to defined contribution pension schemes	19,240	18,137
	709,627	721,561

During the year, retirement benefits were accruing to two Directors contribution pension schemes

(2024 - two) in respect of defined contribution pension schemes.

The reorganisation costs, as disclosed in note 6, represent ex-gratia (severance) paid to one of

the resigning Directors.

The highest paid Director received remuneration of £409,433 (2024 - £396,401).

The value of the Company's contributions paid to a defined contribution pension scheme in respect

of the highest paid Director amounted to £10,685 (2024 - £9,644).

HIRERIGHT LTD

Notes to the Financial Statements

For the Year Ended 31 December 2025

10. Interest receivable and similar income


	2025	2024
	£	£
Other interest receivable	257,256	274,564

11. Tax on profit


	2025	2024
	£	£
Corporation tax
Current tax on profits for the year	446,275	64,343
Adjustment in respect of previous periods	(57,955)	—
Foreign tax relief/other relief	(23,043)	—
Foreign tax suffered	23,043	—
Foreign tax adjustment in respect of prior periods	83,845	(37,143)
Total current tax	472,165	27,200
Deferred tax
Origination and reversal of timing differences	(134,458)	386,849
Adjustment in respect of previous periods	(25,807)	—
Total deferred tax	(160,265)	386,849

Total tax charge for the year	311,900	414,049

Factors affecting tax charge for the year

The tax assessed for the year is higher than (2024 - lower than) the standard rate of corporation

tax in the UK of 25% (2024 - 25%). The differences are explained below:


	2025	2024
	£	£
Profit before tax	1,023,300	1,916,089
Profit multiplied by standard rate of corporation tax in the UK of 25% (2024 - 25%)	255,825	479,022
Effects of:
Expenses not deductible for tax purposes, other than goodwill amortisation and impairment	56,075	(27,336)
Income not taxable	—	(494)
Adjustments in respect of previous periods	—	(37,143)
Total tax charge for the year	311,900	414,049

Factors that may affect future tax charges

The deferred taxation balances have been measured using 25%, which is the enacted rate

applicable in the reporting periods when the timing differences reverse.

HIRERIGHT LTD

Notes to the Financial Statements

For the Year Ended 31 December 2025

12.Tangible fixed assets


	Leasehold improvements	Assets retirement obligation	Fixtures, fittings and equipment	Computer equipment	Construction in progress	Total
	£	£	£	£	£	£
Cost
At 1 January 2025	506,955	41,017	156,221	6,035,127	6,779	6,746,099
Additions	—	—	—		89,220	89,220
Transfers from fixed assets under construction	5,953	—	11,145	76,116	(93,214)	—
At 31 December 2025	512,908	41,017	167,366	6,111,243	2,785	6,835,319

Accumulated depreciation
At 1 January 2025	398,743	39,355	109,282	4,398,359	—	4,945,739
Charge for the year	88,689	1,662	5,998	627,290	—	723,639
Disposals	—	—	—	—	—	—
At 31 December 2025	487,432	41,017	115,280	5,025,649	—	5,669,378

Net book value
At 31 December 2025	25,476	—	52,086	1,085,594	2,785	1,165,941
At 31 December 2024	108,212	1,662	46,939	1,636,768	6,779	1,800,360

HIRERIGHT LTD

Notes to the Financial Statements

For the Year Ended 31 December 2025

13.Investments


	Investments in subsidiary companies
	£
Cost and net book value
At 1 January 2025	37,524
At 31 December 2025	37,524

Subsidiary undertaking

The following was a subsidiary undertaking of the Company:


Name	Registered office	Principal activity	Class of shares	Holding
HireRight Poland Sp. z.o.o.	Uniwersytecka 18, 40-007 Katowice, Poland	Employee screening services	102 ordinary shares of 500 Polish Zloty each	100%

HireRight Poland Sp. z.o.o. generated a profit of £496,484 (2024- profit of £835,765)

14. Debtors


	2025	2024
	£	£
Trade debtors	8,103,973	9,583,224
Amounts owed by group undertakings	5,076,152	4,956,167
Other debtors	244,521	360,321
Prepayments and accrued income	1,444,190	954,615
Corporation tax recoverable	308,559	179,004
	15,177,395	16,033,331

The impairment recognised in the Statement of Comprehensive Income for the year in-respect of

bad and doubtful trade debtors was £269,762 (2024 impairment reversal - £82,227).

HIRERIGHT LTD

Notes to the Financial Statements

For the Year Ended 31 December 2025

15.Creditors: amounts falling due within one year


	2025	2024
	£	£
Trade creditors	210,547	404,220
Amounts owed to group undertakings	3,345,667	5,090,923
Corporation tax	—	—
Other taxation and social security	390,337	797,633
Accruals and deferred income	1,932,350	2,082,749
	5,878,901	8,375,525

16.Creditors: amounts falling due after more than one year


	2025	2024
	£	£
Accruals and deferred income	53,525	51,717

17.Deferred tax


		2025
		£
At 1 January 2025		(256,849)
Adjustment in respect of previous periods		25,807
Credited to the Statement of Comprehensive Income		134,458
At 31 December 2025		(96,584)

The deferred taxation balance is made up as follows:	2025	2024
	£	£
(Accelerated)/Decelerated capital allowances	(104,956)	(260,994)
Other timing differences - losses	8,372	4,145
	(96,584)	(256,849)

HIRERIGHT LTD

Notes to the Financial Statements

For the Year Ended 31 December 2025

18.Provisions for other liabilities


	Lease cease
	liabilities
	£
At 1 January 2025	122,370
Amount utilised	(61,992)
Reclassification	(60,378)
At 31 December 2025	—

The Company periodically identifies opportunities for cost savings through office consolidations or by

exit from certain underutilised facilities. As a result, the Company has physically exited its London

Canary Wharf facility (100%) on December 31, 2021. This operating lease is still in effect until March

2026. As 31 December 2025 and 31 December 2024, the Company calculated the gross liability as the

net present value of future rental payments and recurring executory costs, net of sublease income.

Rental income is calculated based on rent fee per square meter of total subleased area.

As a result, at 31 December 2025, the Company recognises a net liability in the amount of £Nil (2024 -

£122,370), out of which £Nil (2024 - £58,907) refers to short term liability, and £Nil (2024 - £63,463)

refers to long term liability. As at 31 December 2025, a liability for costs that will continue to be incurred

under a contract for its remaining term without economic benefit to the entity have been recognised

and measured at its fair value at £Nil, the risk-free rate (2024 - 3.99%).

19.Called up share capital


	2025	2024
	£	£
Allotted, called up and fully paid
682 (2024 - 682) Ordinary shares of £1 (2024 - £1) each	682	682

The ordinary shares each carry one voting right.

20. Reserves

The Company's capital and reserves are as follows:

Called up share capital

Called up share capital represents the nominal value of the shares issued.

Profit and loss account

Profit and loss account represents cumulative profits or losses, net of dividends paid and other

adjustments.

HIRERIGHT LTD

Notes to the Financial Statements

For the Year Ended 31 December 2025

21.Pension commitments

The Company operates a defined contributions pension scheme. The assets of the scheme are

held separately from those of the Company in an Independently administered fund. The pension

cost charge represents contributions payable by the Company to the fund and amounted to

£205,589 (2024 - £181,709). Contributions totaling £33,476 (2024 - £35,627) were payable to the

fund at the reporting date and are included in creditors.

22.Commitments under operating leases

At 31 December 2025, the Company had future minimum lease payments due under non-

cancelable operating leases for each of the following years:


	2025	2024
	£	£
Not later than 1 year	—	491,172
Later than 1 year and not later than 5 years	—	122,793
	—	613,965

The Company periodically identifies opportunities for cost savings through office consolidations or

by exit from certain underutilised facilities. As a result, the Company has physically exited its

London Canary Wharf facility (100%) on December 31, 2021. This operating lease is still in effect

until March 2026. The Company partially sublet the office in July 2023. The Company calculated

the gross liability as the net present value of future rental payments and recurring executory costs,

net of sublease income.

For the commitments under the operating lease of London Canary Wharf, facility provision was

created (note 18).

23.Related party transactions

The Company has taken advantage of the exemption allowed under FRS 102 Section 33.1A

whereby it has not disclosed transactions with the Parent Company or any wholly owned

subsidiary undertaking of the group.

There are no related party transactions with key management personnel, entities that have joint

control to significant influence over the entity, or other related parties.

24.Ultimate parent undertaking and controlling party

The immediate parent undertaking is HireRight UK Holding Limited.

The Company is a wholly owned subsidiary of the Group and is ultimately owned by the Parent.

The shareholders of the Parent are investment funds managed by General Atlantic LLC and Stone

Point Capital LLC.

The smallest group into which the results of the Company are consolidated is HireRight UK Holding

Limited. The largest group into which the results of the Company are consolidated is HireRight

Holdings Corporation. Copies of financial statements of the Group may be obtained from 20 Water

Street, Canary Wharf, London, England, E14 5GX and of the Parent may be obtained from 600

Third Avenue New York, NY 10016 United States.


	Page/s
Strategic Report	1
Directors' Report	4
Directors' Responsibilities Statement	7
Independent Auditors' Report	8
Statement of Comprehensive Income	11
Statement of Financial Position	12
Statement of Changes in Equity	13
Notes to the Financial Statements	14


Company	HireRight Ltd
Parent	HireRight Holdings Corporation, the ultimate holding company of the Group
Group	HireRight UK Holding Limited, the immediate parent of the Company, and its subsidiaries, including: -HireRight Ltd -HireRight Poland Sp. z o.o -Background Screening HireRight Pte Ltd (in Singapore) -Background Screening HireRight Middle East FZCO -HireRight Hong Kong Limited -HireRight Background Screening India LLP (50% share)