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The annual report has been prepared in accordance with the Danish Financial Statements Act. We consider the chosen accounting policy to be appropriate, and in our opinion, the financial statements give a true and fair view of the financial position of the Company at 31 December 2025 and of the results of the Company's operations for the financial year 1 January – 31 December 2025. Further, in our opinion, the Management's review gives a true and fair review of the matters discussed in the Management's review. We recommend that the annual report be approved at the Annual General Meeting. Daniel Vesti Knuttel Benjamin Filiph Sebastian Gripenberg Kasper Tams Kitaj Anders Bargfeldt Kjørup Eddy Karen Egizarian Daniel Vesti Knuttel We  have  audited  the  financial  statements  of  Halifax A/S for  the  financial  year  1 January  – 31 December  2025,  which  comprise  income  statement,  balance  sheet,  statement  of  changes  in  equity, cash  flow  statement  and  notes,  including  accounting  policies.  The  financial  statements  are  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 of the Company at 31 December 2025 and of the results of the Company's operations and cash flows for the financial year 1 January – 31 December 2025 in accordance with the Danish Financial Statements Act.  Basis for OpinionWe  conducted  our  audit  in  accordance  with  International  Standards  on  Auditing  (ISAs)  and  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  believe  that  the  audit  evidence  we  have  obtained  is  sufficient  and  appropriate  to  provide  a basis for our opinion. IndependenceWe  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.  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 as to 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 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 the financial statements.  As  part  of  an  audit  conducted  in  accordance  with  ISAs  and  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 note  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.  Statement on Management’s ReviewManagement is responsible for Management’s Review. Our opinion on the financial statements does not cover the Management's review, and we do not express any form of assurance conclusion thereon.  In connection with our audit of the financial statements, our responsibility is to read the Management's review  and,  in  doing  so,  consider  whether  the  Management's  review  is  materially  inconsistent  with  the financial  statements  or  our  knowledge  obtained  during  the  audit,  or  otherwise  appears  to  be  materially misstated.  Moreover, it is our responsibility to consider whether the Management's review provides the information required under the Danish Financial Statements Act.  Based on the work we have performed, we conclude that the Management's review is in accordance with the  financial  statements  and  has  been  prepared  in  accordance  with  the  requirements  of  the  Danish Financial Statement Act. We did not identify any material misstatement of the Management's review. Description of key activities of the companyLike previous years, the company's purpose is to operate restaurants.  Significant changes in the company's activities and financial mattersThere have been no significant changes in activities and financial matters. The gross profit for the year totals DKK 35.621.268 against DKK 44.289.210 last year. Profit or loss from ordinary activities after tax totals DKK -3.077.546 against DKK -6.357.721 last year. Management considers the result profit for the year satisfactory. Events occurring after the end of the financial yearNo events materially affecting the assessment og the Annual Report have occurred after the balance sheet date.  Disclosure of assumptions related to development projects Development projects include App development. The company’s development activities have been completed during the year and have therefore been transferred to completed development assets. 9.Contractual obligations and contingencies, etc.Lease liabilities:The company has entered leasing contracts. The leasing contracts have the total outstanding leasing payment of TDKK 111. The leasing contracts is interminable in 16 months.  Rent commitments: The company has entered rent agreements with an total og TDKK 9.006. The leases is interminable in 3-58 months.  Joint taxationWith Nordic Hospitality Partners Denmark A/S, company reg. no 39427958 as administration company, the company is subject to the Danish scheme of joint taxation and unlimitedly, jointly, and severally liable, along with the other jointly taxed companies, for the total corporation tax. The company is unlimitedly, jointly, and severally liable, along with the other jointly taxed companies, for any obligations to withhold tax on interest, royalties, and dividends. The jointly taxed enterprises' total known net liability to the Danish tax authorities emerges from the financial statements of the administration company. Any subsequent adjustments of corporate taxes or withholding tax, etc., may result in changes in the company's liabilities. The company has withdrawn from the joint taxation with the former management company HOLDINGSELSKABET AF OKTOBER 2006 ApS as of 4 December 2025 and is liable for any tax claims against the other jointly taxed companies until the time of withdrawal from the joint taxation. 10.Related partiesConsolidated financial statementsThe company is included in the consolidated financial statements of NoHo Partners Oyj, Hatanpään Valtatie 1B FI 33100.  The annual report for Halifax A/S has been presented in accordance with the Danish Financial Statements Act regulations concerning reporting class B enterprises. Furthermore, the company has decided to comply with certain rules applying to reporting class C enterprises. The accounting policies are unchanged from last year, and the annual report is presented in DKK. Foreign currency translationTransactions in foreign currency are translated by using the exchange rate prevailing at the date of the transaction. Differences in the rate of exchange arising between the rate at the date of transaction and the rate at the date of payment are recognised in the profit and loss account as an item under net financials. If currency positions are considered to hedge future cash flows, the value adjustments are recognised directly in equity in a fair value reserve. Receivables, payables, and other foreign currency monetary items are translated using the closing rate. The difference between the closing rate and the rate at the time of the occurrence or initial recognition in the latest financial statements of the receivable or payable is recognised in the income statement under financial income and expenses. Fixed assets acquired and paid for in foreign currency are measured at the exchange rate prevailing at the date of  the transaction. Group enterprises abroad, associates, and equity investments are considered to be independent entities. The income statements are translated at an average exchange rate for the month, and the balance sheet items are translated at the closing rates. Currency translation differences, arising from the translation of the equity of group enterprises abroad at the beginning of the year to the closing rate and from the translation of income statements from average prices to the closing rate, are recognised directly in equity in the fair value reserve in the Consolidated Financial Statement. This also applies to differences arising from translation of income statements from average exchange rate to closing rate. Translation adjustment of balances with group enterprises abroad that are considered part of the total investment in group enterprises are recognised directly in equity in the fair value reserve. Likewise, foreign exchange gains and losses on loans and derived financial instruments for currency hedging independent group enterprises abroad are recognised directly in equity. When recognising foreign group enterprises which are integral units, the monetary items are translated using the closing rate. Non-monetary items are translated using the exchange rate prevailing at the time of acquisition or at the time of the subsequent revaluation or write-down for impairment of the asset. Income statement items are translated using the exchange rate prevailing at the date of the transaction. However, items in the income statement derived from non-monetary items are translated using historical prices. Gross profitThe comapny has adopted § 32 from the Danish Financial Statements Act.  Gross profit comprises the revenue, changes in inventories of raw materials and consumables, other operating income, and external costs. RevenueRevenue is recognised in the income statement if delivery and passing of risk to the buyer have taken place before the end of the year and if the income can be determined reliably and inflow is anticipated. Recognition of revenue is exclusive of VAT and taxes and less any discounts relating directly to sales.  The enterprise is applying IAS 18 as its basis of interpretation for the recognition of revenue. Cost of sales Cost of sales comprises costs concerning purchase of raw materials and consumables less discounts and changes in inventories. Other operating incomeOther operating income comprises items of a secondary nature as regards the principal activities of the enterprise. Furthermore, this item comprises received subsidies, damages, and compensation due to the coronavirus situation.  Other external costs Other external costs comprise costs for distribution, sales, advertisement, administration, premises, loss on debtors, and operational leasing costs. Staff costsStaff costs include salaries and wages, including holiday allowances, pensions, and other social security costs, etc., for staff members. Staff costs are less goverment reimbursements.  Depreciation, amortisation, and write-down for impairmentDepreciation, amortisation, and writedown comprise depreciation and writedown for the year and gains and losses on the disposal of intangible and tangible  fixed assets. Financial income and expensesFinancial income and expenses are recognised in the income statement with the amounts concerning the financial year. Financial income and expenses comprise interest income and expenses, financial expenses from financial leasing, realised and unrealised capital gains and losses relating to securities, debt and transactions in foreign currency, amortisation of financial assets and liabilities as well as surcharges and reimbursements under the advance tax scheme, etc. Tax on net profit or loss for the yearTax for the year comprises the current income tax for the year and changes in deferred tax and is recognised in the income statement with the share attributable to the net profit or loss for the year and directly in equity with the share attributable to entries directly in equity.  The company is subject to Danish rules on compulsory joint taxation of Danish group enterprises. The current Danish income tax is allocated among the jointly taxed companies proportional to their respective taxable income (full allocation with reimbursement of tax losses). Intangible assetsDevelopment projects, patents, and licencesDevelopment costs and internally generated rights are recognised in the income statement as costs in the acquisition year. Patents and licenses are measured at cost less accrued amortisation. Patents are amortised on a straightline basis over the remaining patent period and licenses are amortised over the contract period, however, for a maximum of 10 years. Profit and loss from the sale of development projects, patents, and licenses are measured as the difference between the sales price less sales costs and the carrying amount at the time of sale. Profit or loss is recognised in the income statement under amortisation and write-down for impairment. Property, plant, and equipmentProperty, plant, and equipment are measured at cost less accrued depreciation and writedown for impairment. Land is not subject to depreciation.  The depreciable amount is cost less any expected residual value after the end of the useful life of the asset. The amortisation period and the residual value are determined at the acquisition date and reassessed annually. If the residual value exceeds the carrying amount, the depreciation is discontinued. If the depreciation period or the residual value is changed, the effect on amortisation will, in future, be recognised as a change in the accounting estimates. The cost comprises acquisition cost and costs directly associated with the acquisition until the time when the asset is ready for use. The cost of a total asset is divided into separate components. These components are depreciated separately, the useful lives of each individual components differing, and the individual component representing a material part of the total cost. Leasehold improvements are measured at cost less accrued depreciations.  Depreciation is done on a straight-line basis according to an assessment of the expected useful life:  Useful lifeLeasehold improvements5-10yearsOther fixtures and fittings, tools and equipment5-10years Minor assets with an expected useful life of less than 1 year are recognised as costs in the income statement in the year of acquisition. Profit or loss derived from the disposal of property, land, and equipment is measured as the difference between the sales price less selling costs and the carrying amount at the date of disposal. Profit or loss is recognised in the income statement under depreciation. LeasesThe enterprise will be applying IAS 17 as its base of interpretation for recognition of classification and recognition of leases. At their initial recognition in the statement of financial position, leases concerning property, plant, and equipment where the company holds all essential risks and advantages associated with the proprietary right (finance lease) are measured either at fair value of the asset being leased or at the present value of the future lease payments, whichever value is lower. When calculating the present value, the discount rate used is the internal rate of return of the lease or, alternatively, the borrowing rate of the enterprise. Hereafter, assets held under a finance lease are treated in the same way as other similar property, plant, and equipment. The capitalised residual lease commitment is recognised in the statement of financial position as a liability other than provisions, and the interest part of the lease is recognised in the income statement for the term of the contract. All other leases are regarded as operating leases. Payments in connection with operating leases and other lease agreements are recognised in the income statement for the term of the contract. The company's total liabilities concerning operating leases and lease agreements are recognised under contingencies, etc. DepositsDeposits are measured at amortised cost and represent lease deposits, etc. Impairment loss relating to non-current assetsThe carrying amount of both intangible and tangible fixed assets are subject to annual impairment tests in order to disclose any indications of impairment beyond those expressed by amortisation and depreciation respectively. If indications of impairment are disclosed, impairment tests are carried out for each individual asset or group of assets, respectively. write-down for impairment is done to the recoverable amount if this value is lower than the carrying amount. The recoverable amount is the higher value of value in use and selling price less expected selling cost. The value in use is calculated as the present value of the expected net cash flows from the use of the asset or the asset group and expected net cash flows from the sale of the asset or the asset group after the end of their useful life. Previously recognised impairment losses are reversed when conditions for impairment no longer exist.  InventoriesInventories are measured at cost according to the FIFO method. In cases when the net realisable value of the inventories is lower than the cost, the latter is written down for impairment to this lower value. Costs of goods for resale, raw materials, and consumables comprise acquisition costs plus delivery costs. ReceivablesReceivables are measured at amortised cost, which usually corresponds to nominal value. In order to meet expected losses, impairment takes place at the net realisable value. The company has chosen to use IAS 39 as a basis for interpretation when recognising impairment of financial assets, which means that impairments must be made to offset losses where an objective indication is deemed to have occurred that an account receivable or a portfolio of accounts receivable is impaired. If an objective indication shows that an individual account receivable has been impaired, an impairment takes place at individual level. Accounts receivable for which there is no objective indication of impairment at the individual level are evaluated at portfolio level for objective indication of impairment. The portfolios are primarily based on the debtors' domicile and credit rating in accordance with the company's and the group's credit risk management policy. Determination of the objective indicators applied for portfolios are based on experience with historical losses. Impairment losses are calculated as the difference between the carrying amount of accounts receivable and the present value of the expected cash flows, including the realisable value of any securities received. The effective interest rate for the individual account receivable or portfolio is used as the discount rate. PrepaymentsPrepayments recognised under assets comprise incurred costs concerning the following financial year. Cash and cash equivalentsCash and cash equivalents comprise cash at bank and on hand. EquityReserve for development costsThe reserve for development costs comprises recognised development costs less related deferred tax liabilities. The reserve cannot be used as dividends or for covering losses. The reserve is reduced or dissolved if the recognised development costs are amortised or abandoned. This is done by direct transfer to the distributable reserves of the equity. Income tax and deferred taxCurrent tax liabilities and current tax receivable are recognised in the statement of financial position as calculated tax on the taxable income for the year, adjusted for tax of previous years' taxable income and for tax paid on account. The company is jointly taxed with consolidated Danish companies. The current corporate income tax is distributed between the jointly taxed companies in proportion to their taxable income and with full distribution with reimbursement as to tax losses. The jointly taxed companies are comprised by the Danish tax prepayment scheme. Joint taxation contributions payable and receivable are recognised in the statement of financial position as ”Tax receivables from group enterprises" or "Income tax payable to group enterprises" According to the rules of joint taxation, Halifax A/S is unlimitedly, jointly, and severally liable to pay the Danish tax authorities the total income tax, including withholding tax on interest, royalties, and dividends, arising from the jointly taxed group of companies. Deferred tax is measured on the basis of temporary differences in assets and liabilities with a focus on the statement of financial position. Deferred tax is measured at net realisable value. Deferred tax is measured based on the tax rules and tax rates applying under the legislation prevailing in the respective countries on the reporting date when the deferred tax is expected to be released as current tax. Changes in deferred tax due to changed tax rates are recognised in the income statement, except for items included directly in the equity. Deferred tax assets, including the tax value of tax losses allowed for carryforward, are recognised at the value at which they are expected to be realisable, either by settlement against tax of future earnings or by set-off in deferred tax liabilities within the same legal tax unit. Any deferred net tax assets are measured at net realisable value. Liabilities other than provisionsFinancial liabilities other than provisions related to borrowings are recognised at the received proceeds less transaction costs incurred. In subsequent periods, the financial liabilities are recognised at amortised cost, corresponding to the capitalised value when using the effective interest rate. The difference between the proceeds and the nominal value is recognised in the income statement during the term of the loan. Other liabilities concerning payables to suppliers, group enterprises, and other payables are measured at amortised cost which usually corresponds to the nominal value.