42883557 2024-12-31 42883557 2023-12-31 42883557 2024-01-01 fsa:ContributedCapitalMember 42883557 2024-01-01 fsa:RetainedEarningsMember 42883557 2024-12-31 fsa:ContributedCapitalMember 42883557 2024-12-31 fsa:RetainedEarningsMember 42883557 2024-01-01 fsa:OtherInvestmentsMember 42883557 2024-12-31 fsa:OtherInvestmentsMember 42883557 2024-01-01 2024-12-31 42883557 2024-01-01 2024-12-31 1 42883557 2024-01-01 2024-12-31 memberOfBoardIdentifier_executive_board_1 42883557 2024-01-01 2024-12-31 memberOfBoardIdentifier_board_of_director_1 42883557 2024-01-01 2024-12-31 memberOfBoardIdentifier_board_of_director_2 42883557 2024-01-01 2024-12-31 memberOfBoardIdentifier_board_of_director_3 42883557 2024-01-01 2024-12-31 2 42883557 2023-01-01 2023-12-31 42883557 2024-01-01 2024-12-31 fsa:ContributedCapitalMember 42883557 2024-01-01 2024-12-31 fsa:RetainedEarningsMember 42883557 2024-01-01 2024-12-31 fsa:OtherInvestmentsMember iso4217:DKK pure Årsrapport 33771231 PricewaterhouseCoopers Statsautoriseret Revisionspartnerselskab Strandvejen 44 2900 Hellerup 2024-01-01 2023-01-01 2024-12-31 2023-12-31 42883557 Lime Tree SPV P/S Frederiksgade 11,1 th 1265 Copenhagen K København 2021-11-29 PricewaterhouseCoopers Statsautoriseret Revisionspartnerselskab 33771231 Strandvejen 44 2900 Hellerup Denmark 39 45 39 45 koebenhavn@pwc.dk 2025-06-30 Daniel Åxman Regnskabsklasse B Revisionspåtegning The Executive Board and Board of Directors have today considered and adopted the Annual Report of Lime Tree SPV P/S for the financial year 1 January - 31 December 2024. 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 31 December 2024 of the Company and of the results of the Company operations for 2024. We recommend that the Annual Report be adopted at the Annual General Meeting. 2025-06-30 Copenhagen K Daniel Åxman CEO Søren Friis Chairman Nicolas Georges Trad Daniel Åxman To the partners of Lime Tree SPV P/S Opinion In our opinion, the Financial Statements give a true and fair view of the financial position of the Company at 31 December 2024 and of the results of the Company´s operations for the financial year 1 January - 31 December 2024 in accordance with the Danish Financial Statements Act. We have audited the Financial Statements of Lime Tree SPV P/S for the financial year 1 January - 31 December 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 2025-06-30 PricewaterhouseCoopers Statsautoriseret Revisionspartnerselskab Flemming Eghoff State Authorised Public Accountant mne30221 Morten Jørgensen State Authorised Public Accountant mne32806 -166742 -179741 549 197 3902636 3272 -4068829 -182816 -4068829 -182816 9467714 13370350 9467714 13370350 9467714 13370350 26932 27584 26932 27584 9494646 13397934 5273150 5273150 3991830 8060659 9264980 13333809 164291 34375 65375 29750 229666 64125 229666 64125 9494646 13397934 5273150 8060659 0 -4068829 5273150 3991830 The company's purpose is to own and invest in capital shares and other related businesses. Impairment of other fixed asset investments 3902636 0 Total 3902636 0 13370350 13370350 0 3902636 3902636 9467714 0 0 There are no security and contingent liabilities at 31 December 2024. The Annual Report of Lime Tree SPV P/S for 2024 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 2024 are presented in DKK. true 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. Transactions in foreign currencies are translated at the exchange rates at the dates of transaction. Exchange differences arising due to differences between the transaction date rates and the rates at the dates of payment are recognised in financial income and expenses in the income statement. Where foreign exchange transactions are considered hedging of future cash flows, the value adjustments are recognised directly in equity. Receivables, payables and other monetary items in foreign currencies that have not been settled at the balance sheet date are translated at the exchange rates at the balance sheet date. Any differences between the exchange rates at the balance sheet date and the transaction date rates are recognised in financial income and expenses in the income statement; however, see the section on hedge accounting. Income statements of enterprises that are integrated entities are translated at transaction date rates or approximated average exchange rates; however, items derived from non-monetary balance sheet items are translated at the transaction date rates of the underlying assets or liabilities. Monetary balance sheet items are translated at the exchange rates at the balance sheet date, whereas non-monetary items are translated at transaction date rates. Exchange adjustments arising on the translation are recognised in financial income and expenses in the income statement. Other external expenses comprise expenses for premises, sales as well as office expenses, etc. With reference to section 32 of the Danish Financial Statements Act, gross profit/loss comprises of other external expenses. Financial income and expenses are recognised in the income statement at the amounts relating to the financial year. The company is not considered a separate tax entity as the tax obligation falls on the company's shareholders. Therefore, current tax and deferred tax are not recognized in the annual financial statements. Investments which are not traded in an active market are measured at the lower of cost and recoverable amount. Debts are measured at amortised cost, substantially corresponding to nominal value.