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The Annual Report is prepared in accordance with the Danish Financial Statements Act. In our opinion the Financial Statements give a true and fair view of the financial position at 30 June 2024 of the Company and of the results of the Company operations for 2023/24. We recommend that the Annual Report be adopted at the Annual General Meeting. 2024-10-10 Hellerup Niels Olaf Ahrengot Manager Stig Skov Albertsen Chair Rikke Sick Børgesen Palle Thesbjerg Mehlsen Henrik Horn Andersen Lars Saur Feldstedt To the shareholder of Implement Datterholding A/S Opinion In our opinion, the Financial Statements give a true and fair view of the financial position of the Company at 30 June 2024 and of the results of the Company´s operations for the financial year 1 July 2023 - 30 June 2024 in accordance with the Danish Financial Statements Act. We have audited the Financial Statements of Implement Datterholding A/S for the financial year 1 July 2023 - 30 June 2024, which comprise income statement, balance sheet, statement of changes in equity and notes, including a summary of significant accounting policies (”the Financial Statements”). Basis for Opinion We conducted our audit in accordance with International Standards on Auditing (ISAs) and the additional requirements applicable in Denmark. Our responsibilities under those standards and requirements are further described in the ”Auditor’s responsibilities for the audit of the Financial Statements” section of our report. We are independent of the Company in accordance with the International Ethics Standards Board for Accountants’ International Code of Ethics for Professional Accountants (IESBA Code) and the additional ethical requirements applicable in Denmark, and we have fulfilled our other ethical responsibilities in accordance with these requirements and the IESBA Code. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion. Management is responsible for the preparation of financial statements that give a true and fair view in accordance with the Danish Financial Statements Act, and for such internal control as Management determines 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, Management is 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 in preparing the Financial Statements unless Management either intends to liquidate the Company or to cease operations, or has no realistic alternative but to do so. 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 auditor’s 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 and the additional requirements applicable in Denmark 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. As part of an audit conducted in accordance with ISAs and the additional requirements applicable in Denmark, we exercise professional judgement and maintain professional scepticism throughout the audit. We also: Identify and assess the risks of material misstatement of the Financial Statements, whether due to fraud or error, design and perform audit procedures responsive to those risks, and obtain audit evidence that is sufficient and appropriate to provide a basis for our opinion. The risk of not detecting a material misstatement resulting from fraud is higher than for one resulting from error as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal control. Obtain an understanding of internal control relevant to the audit in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the Company´s internal control. Evaluate the appropriateness of accounting policies used and the reasonableness of accounting estimates and related disclosures made by Management. Conclude on the appropriateness of Management’s use of the going concern basis of accounting in preparing the Financial Statements and, based on the audit evidence obtained, whether a material uncertainty exists related to events or conditions that may cast significant doubt on the Company´s ability to continue as a going concern. If we conclude that a material uncertainty exists, we are required to draw attention in our auditor’s report to the related disclosures in the Financial Statements or, if such disclosures are inadequate, to modify our opinion. Our conclusions are based on the audit evidence obtained up to the date of our auditor’s report. However, future events or conditions may cause the Company to cease to continue as a going concern. Evaluate the overall presentation, structure and contents of the Financial Statements, including the disclosures, and whether the Financial Statements represent the underlying transactions and events in a manner that gives a true and fair view. We communicate with those charged with governance regarding, among other matters, the planned scope and timing of the audit and significant audit findings, including any significant deficiencies in internal control that we identify during our audit. Hellerup 2024-10-10 PricewaterhouseCoopers Statsautoriseret Revisionspartnerselskab Thomas Wraae Holm State Authorised Public Accountant mne30141 Henrik Ødegaard State Authorised Public Accountant mne31489 -32000 -68000 34915000 32936000 18186000 25075000 103000 239000 52966000 57704000 2816000 2147000 50150000 55557000 21013000 -35734000 29137000 91291000 118298000 100045000 24289000 11990000 5322000 0 147909000 112035000 147909000 112035000 35188000 14997000 3126000 1515000 0 7001000 38314000 23513000 230303000 171394000 9459000 5646000 278076000 200553000 425985000 312588000 500000 500000 41123000 17152000 8448000 0 251077000 228830000 301148000 246482000 3690000 3832000 3690000 3832000 49597000 41503000 49597000 41503000 115000 115000 56499000 11407000 326000 0 14610000 9249000 71550000 20771000 121147000 62274000 425985000 312588000 500000 17152000 0 228830000 0 2958000 0 0 0 0 8448000 -6890000 0 21013000 0 29137000 500000 41123000 8448000 251077000 The share capital consists of 500,000 shares of a nominal value of DKK 1. No shares carry any special rights.There have been no changes in the share capital during the last 5 years. The Company's key activities comprise equity investments in holding and sale of investments in companies with management consulting activities and other activities which in the opinion of the Board of Directors are related to such activities 2332000 2478000 484000 -331000 2816000 2147000 73898000 77441000 4157000 3263000 4570000 6806000 73485000 73898000 22315000 52886000 2958000 -4421000 38909000 36116000 19742000 60135000 3994000 3180000 -1749000 1124000 41123000 22315000 3690000 3832000 118298000 100045000 The Tech Collective A/S Hellerup, Denmark 100 Implement Consulting Group Norway AS Oslo, Norway 100 Implement Consulting Group OY Helsinki, Finland 100 Implement Consulting Group Malmö AB Malmö, Sweden 100 ICG Komplementar ApS Hellerup, Denmark 100 Implement Consulting Group AG Zürich, Switzerland 100 Implement Consulting Group Germany GmbH München, Germany 100 Implement Consulting Group US INC North Carolina, United States 100 IS IT A BIRD ApS Valby, Denmark 84 Tech Collective System Impact A/S Hellerup, Denmark 82.5 Tech Collective Test & DevOps A/S Hellerup, Denmark 87 Tech Collective CRM A/S Hellerup, Denmark 100 Tech Collective Cyber Tech Services A/S Hellerup, Denmark 75 Implement Consulting Group Göteborg AB Göteborg, Sweden 100 Implement Consulting Group AS Oslo, Norway 100 Tech Collective Data & Analytics A/S Hellerup, Denmark 100 Tech Collective CAI A/S Hellerup, Denmark 70 Implement International A/S Hellerup, Denmark 100 Implement Consulting Group AB Stockholm, Sweden 100 Tech Collective People Tech Hub A/S Hellerup, Denmark 90 Disposals for the year 2426000 -75000 Remaining positive difference included in the above carrying amount at 10953000 11098000 Investments in subsidiaries are specified as follows: 0 0 49597000 41503000 49597000 41503000 14610000 9249000 Payments due within 1 year are recognised in short-term debt. Other debt is recognised in long-term debt. The debt falls due for payment as specified below: Other payables 0 0 Other contingent liabilities The group companies are jointly and severally liable for tax on the jointly taxed incomes etc of the Group. The total amount of corporation tax payable by the Group amounts to DKK 16,085k. Any subsequent adjustments of corporation taxes and withholding taxes may increase the Company’s liability. Consolidated Financial Statements The Company is included in the Group Annual Report of the Parent Company of the group: Name Place of registered office Implement Consulting Group P/S Strandvejen 54, 2900 Hellerup, Denmark The Annual Report of Implement Datterholding A/S for 2023/24 has been prepared in accordance with the provisions of the Danish Financial Statements Act applying to enterprises of reporting class B as well as selected rules applying to reporting class C. The accounting policies applied remain unchanged from last year. The Financial Statements for 2023/24 are presented in TDKK. true With reference to section 112 of the Danish Financial Statements Act and to the consolidated financial statements for 2023/24 of Implement Consulting Group P/S, the Company has not prepared consolidated financial statements. 1 Revenues are recognised in the income statement as earned. Furthermore, value adjustments of financial assets and liabilities measured at fair value or amortised cost are recognised. Moreover, all expenses incurred to achieve the earnings for the year are recognised in the income statement, including depreciation, amortisation, impairment losses and provisions as well as reversals due to changed accounting estimates of amounts that have previously been recognised in the income statement. Assets are recognised in the balance sheet when it is probable that future economic benefits attributable to the asset will flow to the Company, and the value of the asset can be measured reliably. Liabilities are recognised in the balance sheet when it is probable that future economic benefits will flow out of the Company, and the value of the liability can be measured reliably. Assets and liabilities are initially measured at cost. Subsequently, assets and liabilities are measured as described for each item below. Certain financial assets and liabilities are measured at amortised cost, which involves the recognition of a constant effective interest rate over the maturity period. Amortised cost is calculated as original cost less any repayments and with addition/deduction of the cumulative amortisation of any difference between cost and the nominal amount. In this way, capital losses and gains are allocated over the maturity period. Recognition and measurement take into account predictable losses and risks occurring before the presentation of the Annual Report which confirm or invalidate affairs and conditions existing at the balance sheet date. Other external expenses comprise expenses for administration. With reference to section 32 of the Danish Financial Statements Act, gross profit/loss is calculated as a summary of revenue and other external expenses. The item “Income from investments in subsidiaries” in the income statement includes the proportionate share of the profit for the year. Financial income and expenses are recognised in the income statement at the amounts relating to the financial year. Tax for the year consists of current tax for the year and changes in deferred tax for the year. The tax attributable to the profit for the year is recognised in the income statement, whereas the tax attributable to equity transactions is recognised directly in equity. The Company is jointly taxed with the Danish Group Companies. The tax effect of the joint taxation is allocated to Danish enterprises in proportion to their taxable incomes. Investments in subsidiaries are recognised and measured under the equity method. The item “Investments in subsidiaries” in the balance sheet include the proportionate ownership share of the net asset value of the enterprises calculated on the basis of the fair values of identifiable net assets at the time of acquisition with deduction or addition of unrealised intercompany profits or losses and with addition of the remaining value of any increases in value and goodwill calculated at the time of acquisition of the enterprises. The total net revaluation of investments in subsidiaries is transferred upon distribution of profit to “Reserve for net revaluation under the equity method“ under equity. The reserve is reduced by dividend distributed to the Parent Company and adjusted for other equity movements in the subsidiaries. Subsidiaries with a negative net asset value are recognised at DKK 0. Any legal or constructive obligation of the Parent Company to cover the negative balance of the enterprise is recognised in provisions. Investments which are not traded in an active market are measured at the lower of cost and recoverable amount. Other fixed asset investments consist of receivables (fixed assets). Receivables are measured in the balance sheet at the lower of amortised cost and net realisable value, which corresponds to nominal value less provisions for bad debts. Current Asset Investments, which consist of listed bonds, are measured at their fair values at the balance sheet date. Fair value is determined on the basis of the latest quoted market price. Deferred income tax is measured using the balance sheet liability method in respect of temporary differences arising between the tax bases of assets and liabilities and their carrying amounts for financial reporting purposes on the basis of the intended use of the asset and settlement of the liability, respectively. Deferred tax assets are measured at the value at which the asset is expected to be realised, either by elimination in tax on future earnings or by set-off against deferred tax liabilities within the same legal tax entity. Deferred tax is measured on the basis of the tax rules and tax rates that will be effective under the legislation at the balance sheet date when the deferred tax is expected to crystallise as current tax. Any changes in deferred tax due to changes to tax rates are recognised in the income statement or in equity if the deferred tax relates to items recognised in equity. Current tax liabilities and receivables are recognised in the balance sheet as the expected taxable income for the year adjusted for tax on taxable incomes for prior years and tax paid on account. Extra payments and repayment under the on-account taxation scheme are recognised in the income statement in financial income and expenses. Debts are measured at amortised cost, substantially corresponding to nominal value.