Consolidated Bakeries Jamaica Ltd (PURITY) Annual Report for the year 2025

ANNUAL REPORT 20 25 CONSOLIDATED BAKERIES (JAMAICA) LIMITED

CONTENTS About Us 2 Our Vision & Mission 5 Notice of Annual General Meeting 6 Directors’ Report 8 Board of Directors 12 Corporate Data 15 Corporate Governance 16 Top 10 Shareholders 20 Management Discussion & Analysis 21 Corporate Social Responsibility 2025 35 The Financials 39 Form of Proxy 79 1 2025 ANNUAL REPORT

About Us Consolidated Bakeries (Jamaica) Limited emerged when three bakeries, Valentine Bakery, Powell’s Bakery, and Huntington Bakery, came together in 1957 to form one entity. The Company’s integration into the Jamaica Stock Market signifies its strategic expansion and dedication to product excellence, while remaining committed to the same values that have always driven its success. The Company’s focus has always been on providing Jamaicans with nutritious baked goods made from only the freshest ingredients, producing foods that they would be happy feeding to their families. For almost 70 years, Consolidated Bakeries (Jamaica) Limited has been offering their time-honoured baked goods. Family recipes that have proven irreplaceable include their line of Easter Buns - Purity Boxed Bun, Miss Birdie Boxed Bun, Purity Hearty Goodness Whole Wheat Bun, and Purity Hearty Goodness ‘No Sugar Added’ Bun. The popular Miss Birdie branded line of crackers is another family favourite along with a variety of buns and pastry offerings. Operating under the brands of Purity and Miss Birdie, the Company has been supportive of Jamaicans, not just as consumers, but also as our valued employees and those within the neighbouring community. Ensuring that our staff has the opportunities to develop their abilities is a priority for the Company. With 69 years of experience, Consolidated Bakeries (Jamaica) Ltd. has continued the tradition of innovation and growth and has been listed on the Jamaica Junior Stock Exchange for over ten years. Innovation, improvement, and expansion are among the primary areas of focus going forward. We realize the value of having the best available advice, and as such, regularly bring in experts to help the Company achieve its optimal efficiency. This includes looking at plans for expansion, improving the local distribution network and exploring new export markets. 2 CONSOLIDATED BAKERIES (JAMAICA) LIMITED

With 69 years of experience, Consolidated Bakeries (Jamaica) Ltd. has continued the tradition of innovation and growth. 1960 2025 In exploring ways to help the surrounding community, Consolidated Bakeries (Jamaica) Ltd. continues to be deeply involved with the local residents and organisations and also provides funding for education. 3 2025 ANNUAL REPORT

4 CONSOLIDATED BAKERIES (JAMAICA) LIMITED

Our Vision & Mission Vision We envision a future where… Consolidated Bakeries is recognised for our high-quality, world-class brands and has an expanded presence in both domestic and global markets, sharing a taste of Jamaica. Mission We provide high-quality, great-tasting products that are made with wholesome goodness and the heart of Jamaica. 5 2025 ANNUAL REPORT

Notice of Annual General Meeting NOTICE IS HEREBY GIVEN that the 2026 Annual General Meeting of Consolidated Bakeries (Jamaica) Limited will be held at The Liguanea Club, 80 Knutsford Boulevard, New Kingston, Kingston 5, Jamaica, W.I, on August 26, 2026, at 10:00 a.m. to 1:00 p.m. to transact the following business: 1. To receive the Audited Accounts for the year ended December 31, 2025, together with the reports of the Directors and Auditors thereon, The Company is asked to consider, and if thought fit, pass the following resolution: Resolution No. 1 “That the Audited Accounts for the year ended December 31, 2025, together with the reports of the Directors and Auditors thereon, be and are hereby adopted.” 2. To elect Directors. (i) The Directors retiring by rotation in accordance with Regulation 105 of the Company’s Articles of Incorporation are Noel daCosta and Lamar Harris, who, being eligible for re-election, offer themselves for re-election. The Company is being asked to consider, and if thought fit, pass the following resolutions: Resolution No. 2 “That the Directors, retiring by rotation, be re-elected by a Single Resolution.” Resolution No. 3 “That Noel daCosta and Lamar Harris, who are retiring by rotation in accordance with Regulation 105 of the Articles of Incorporation, be and are hereby re - elected as Directors of the Company.” 6 CONSOLIDATED BAKERIES (JAMAICA) LIMITED

3. To approve the Remuneration of the Directors. The Company is asked to consider, and if thought fit, pass the following resolution: Resolution No. 4 “That the amount shown in the Audited Accounts of the Company for the year ended December 31, 2025, as fees of the Directors for their services as Directors, be and are hereby approved.” 4. To appoint Auditors and to authorise the Directors to fix the remuneration of the Auditors. The Company is asked to consider, and if thought fit, pass the following resolution: Resolution No. 5 “That the remuneration of the Auditors, Bogle and Company, who have signified their willingness to continue in office, be such as may be agreed between the Directors of the Company and the Auditors.” Dated the 10th day of May 2026 By Order of the Board Victor Salazar Company Secretary Registered Office 2F Valentine Drive, Kingston 19 NOTE: 1. A member entitled to attend and vote at the meeting may appoint a proxy, who need not also be a member, to attend and, on a poll, vote on his/her behalf. A suitable form of proxy is enclosed. Forms of proxy must be lodged with the Registrar of the Company, Jamaica Central Securities Depository, 40 Harbour Street, Kingston, not less than 48 hours before the time of the meeting. 2. A Corporate shareholder may (instead of appointing a proxy) appoint a representative in accordance with Regulation 75 of the Company’s Articles of Incorporation. A copy of Regulation 75 is set out on the enclosed detachable proxy form. 7 2025 ANNUAL REPORT

Directors’ Report The Board of Directors of Consolidated Bakeries (Jamaica) Limited is pleased to present the Annual Report for the financial year ended 31 December 2025. Included are the audited financial statements, which outline the Statements of Financial Position, Profit or Loss and Other Comprehensive Income, Changes in Equity, and Cash Flows for the year under review. The 2025 financial year was an important one for Consolidated Bakeries, marked by improved financial performance, strengthened operating discipline, and continued progress against the Company’s long-term strategic priorities. In a year shaped by both market opportunities and external pressures, including the impact of Hurricane Melissa in the final quarter, the Company demonstrated resilience and adaptability while continuing to invest in the foundations required for sustainable growth. The Board is encouraged by the Company’s return to profitability, the improvement in operating performance, and the strengthening of its liquidity position. These outcomes reflect the focus placed on margin management, disciplined procurement, operational efficiency, and the continued evolution of the product portfolio. Financial Overview For the year ending 31 December 2025, revenue increased to $1.65 billion, representing growth of 3.2% over the $1.60 billion recorded in 2024. This performance reflects continued demand across the Company’s core baked goods portfolio and the ongoing relevance of our brands in the Jamaican market. Gross profit increased by 10.5% to $643.9 million, while gross margin improved to 39.0%, compared with 36.5% in the prior year. This margin improvement is particularly noteworthy as it reflects the early benefits of stronger procurement discipline, improved supplier engagement, and a continued focus on cost management. Operating performance improved significantly during the year. The Company recorded an operating profit of $23.7 million, compared with an operating loss in 2024, while EBITDA increased to $78.2 million, up from $41.3 million in the prior year. Net profit after tax was $6.5 million, compared with a net loss of $12.0 million in 2024. This return to $1.65B Revenue 8 CONSOLIDATED BAKERIES (JAMAICA) LIMITED

profitability represents a meaningful step forward and confirms that the Company’s operational and strategic priorities are beginning to translate into measurable financial gains. The balance sheet remained strong, supported by total equity of $1.60 billion at year end. Cash and cash equivalents increased to $96.9 million, up from $53.7 million in 2024, and the current ratio improved to 2.11, compared with 1.60 in the previous year. These results reflect a materially stronger working capital position and provide the Company with greater flexibility to manage near‑term obligations and pursue its strategic priorities. A significant milestone during the year was the refinancing of the Company’s debt portfolio through a new $600 million term loan facility with Sagicor Bank Jamaica Limited, of which $300 million had been drawn at year end. This refinancing allowed the Company to retire existing facilities, extend its maturity profile, reduce near-term principal repayment pressure, and improve financial planning certainty. The Board views this as an important step in strengthening the Company’s capital structure and positioning the business for future investment. Strategic Execution Throughout 2025, Consolidated Bakeries continued to advance its strategic focus on product innovation, portfolio diversification, operational efficiency, and market expansion. The Company’s ongoing shift towards higher-performing product categories remains central to its long-term growth plan, as consumer preferences continue to favour convenient, high-quality baked goods and snack options. The Company continued to build on the strength of its established brands, including Purity and Miss Birdie, while supporting the growth of product lines that align with evolving customer needs. Products introduced or targeted in recent years continue to contribute meaningfully to the Company’s revenue profile, demonstrating our ability to respond to consumer trends and maintain relevance in a competitive marketplace. Capital expenditure of approximately $33.5 million was directed toward machinery upgrades, equipment modernisation, and production infrastructure improvements. These investments support the Company’s higher-performing product lines and are consistent with our disciplined approach to capital allocation. $33.5M Capital Expenditure 9 2025 ANNUAL REPORT

Export market development also remained an important strategic priority. While Jamaica continues to serve as the foundation of the business, the Company recognises the long-term opportunity to deepen its presence among diaspora communities and broader consumer segments in international markets. Management continues to evaluate strategic partnerships and co- manufacturing opportunities that may support more efficient distribution, reduce shipping costs, shorten lead times, and strengthen the Company’s ability to serve overseas demand. Operating Environment The operating environment in 2025 required careful management. Locally, the Company continued to navigate inflationary pressures, energy costs, raw material costs, foreign exchange exposure, and evolving consumer spending patterns. Internationally, global market instability and supply chain dynamics remained important considerations, particularly as the Company continued to assess opportunities in export markets. The fourth quarter was significantly affected by Hurricane Melissa, which caused major disruption across Jamaica and had a particularly strong impact on the western region of the island. The storm resulted in temporary store closures, operational disruptions, and reduced sales opportunities in affected areas. In response to increased demand for essential food items, the Company made the deliberate decision to increase production of bread products, which carry lower margins than pastries and single-serve items. While this product mix shift affected fourth-quarter gross profit and margin, it reflected the Company’s commitment to supporting customers and communities during a period of national disruption. Despite these challenges, the Company’s full-year performance demonstrates the strength of the progress achieved during the reporting period. The return to profitability, improvement in operating results, and stronger liquidity position provide a sound basis for continued strategic execution. Governance, Culture and People The Board continued to provide oversight of the Company’s strategic direction, financial performance, risk management, and governance responsibilities throughout the year. The Board worked closely with management to monitor performance against strategic priorities and ensure that the Company remained focused on sustainable value creation, responsible financial management, and long-term resilience. The development of the Company’s organisational culture remained an important area of focus. During the year, Consolidated Bakeries continued its transition towards a more agile, performance-driven, and accountable organisation. Investments in staff development, management processes, 10 CONSOLIDATED BAKERIES (JAMAICA) LIMITED

facilities, and operational systems supported improved engagement and productivity. The Board recognises that people are central to the Company’s ability to execute its strategy. We, therefore, commend management and staff for their continued commitment, particularly during the operational pressures experienced in the final quarter of the year. Looking Ahead As we look towards 2026 and beyond, the Board remains confident in the Company’s strategic direction. The progress made in 2025 provides a stronger platform for the next phase of growth, supported by improved profitability, stronger liquidity, a more stable capital structure, and continued focus on operational excellence. The Company will continue to prioritise margin management, cost discipline, product innovation, production efficiency, and market expansion. We will also continue to increase the use of technology, data, and analytics to support better decision- making and improve execution across the business. While the external environment is expected to remain challenging, Consolidated Bakeries is better positioned to respond with clarity, discipline, and resilience. Our focus remains on strengthening our brands, deepening our customer relationships, improving operational performance, and building a business capable of delivering sustainable value over the long term. On behalf of the Board, I extend sincere appreciation to our management team and staff for their dedication and hard work throughout the year. We also thank our shareholders, customers, suppliers, business partners, and other stakeholders for their continued trust and support. Consolidated Bakeries (Jamaica) Limited remains proud of its Jamaican heritage and committed to building on that legacy through innovation, quality, operational excellence, and responsible growth. For and on behalf of the Board, Mr. Anthony Chang Chairman of the Board Consolidated Bakeries (Jamaica) Limited May 20, 2026 11 2025 ANNUAL REPORT

Anthony V. Chang CD. Executive Chairman & Managing Director Anthony V. Chang brings to the table his extensive professional experience, particularly in the consumer and packaged food businesses involving both domestic and international brands. He is a former president of the Jamaica Chamber of Commerce, has served on boards for both public and private sector firms, and was recently awarded an Order of Distinction (CD) for his years of service to the business community. He holds a degree in Business Administration from the University of Western Ontario in Canada and has completed several professional courses at reputable North American universities. Nicola Chang Murphy Non-Executive Board Member Nicola Chang Murphy serves on the Board of Directors of Consolidated Bakeries (Jamaica) Limited, bringing over two decades of experience in business strategy, operations, and brand development. She holds a Bachelor’s degree in Business from the University of Western Ontario and an MBA from Nova Southeastern University. Nicola joined the family business after completing her studies and has since contributed across key areas, including Sales, Marketing, and Operations. She played a pivotal role in the company’s transition to a publicly listed entity in 2012 and continues to support strategic initiatives aimed at strengthening the company’s market position and operational excellence. In addition to her role at Consolidated Bakeries, Nicola is a certified personal development and leadership coach. She works with individuals and teams to foster clarity, confidence, and alignment in their professional and personal lives. Her coaching practice complements her corporate work, bringing a people-centred lens to leadership and growth. Noel daCosta CD. Non-Executive Board Member Noel daCosta has served on numerous boards in the private and public sectors and has been at the helm of several local and international organisations including the Jamaica Chamber of Commerce, the Jamaica Institution of Engineers, the Jamaica Debates Commission, the Master Brewers Association of the Americas, the National Building Code Committee, and the Caribbean Council of United Way Worldwide. A consultant with over 15 years of experience in Corporate Relations, Noel also has over three decades of technical and engineering leadership in the petroleum and beverage industries. He has postgraduate degrees in Engineering, Business Administration and Insurance, and is a Fellow of both the Jamaica Institution of Engineers and the Institution of Chemical Engineers (UK). Board of Directors 12 CONSOLIDATED BAKERIES (JAMAICA) LIMITED

In 2012, he was awarded the Jamaican national honour of Commander of the Order of Distinction for his contribution to engineering and manufacturing. In 2019, he was conferred with the honorary degree of Doctor of Technology by the University of Technology for his contributions to nation building. Lamar Harris Non-Executive Board Member Lamar Harris is a mission-driven strategic thinker, an Executive Finance Leader, and a qualified Attorney at Law. Her career has been marked by innovation, perseverance, and transformative leadership. With a robust background in finance, global oversight, strategic planning, and policy innovation, she has consistently demonstrated her ability to position businesses for success. Lamar holds a Juris Doctorate, a Master in Business Administration, and a Bachelor of Arts in Political Science and Criminal Justice. Her diverse educational background is complemented by certifications, including calls to The Jamaica and Florida Bars, as well as various qualifications in sales and marketing. Throughout her career, she has been instrumental in navigating complex challenges and driving tangible results. Her strategic acumen and ability to align client and business goals with regulatory frameworks have earned accolades and industry recognition, such as the JSE Award for most listings on the Exchange and the JSE Award for the best Client Experience. Lamar has written numerous articles, paying it forward by sharing her knowledge on Institutional and Retail Wealth Management. Her expertise extends beyond traditional boundaries, as she has successfully performed on both the buy and sell sides of transactions, making her a leader in the dynamic landscape of finance. Capitalising on her background in law and finance, she has successfully transitioned family businesses into public entities via Initial Public Offerings. On the sell side, she has led teams to the most successful fundraising of both debt and equity. As an innovator, she has spearheaded initiatives around client segmentation and journey processes, leading to an increase in client satisfaction and assets under management. A staunch advocate for corporate governance, Lamar has championed compliance initiatives, ensuring the highest standards of integrity within organisations. Victor Salazar-Chang Company Secretary & Business Development Manager Victor Salazar–Chang is experienced in international business, having headed the Caribbean and Latin American Unit of Jamaica’s Investment and Trade Promotion Agency (JAMPRO) and procured the largest investment influx in the country’s history. He has also managed an industrial packaging and commodities unit at Grace Kennedy & Co. Ltd. and led the export foray into Latin America for Grace branded products. He has a Bachelor of Science in International Relations and a Master’s degree in Government from the University of the West Indies. 13 2025 ANNUAL REPORT

Marshall Ogle Non-Executive Board Member Marshall Ogle is the former Director, Strategy & Operations of Deloitte & Touche, Jamaica. He is a business process reengineering specialist in the financial services sector with over 25 years of experience in Jamaica, Barbados, and Trinidad. He led the firm’s Strategy & Operations and IT Consulting service lines. Marshall has led numerous consulting engagements in the private and public sectors in organisational audits, business process reengineering, change management, organisational structure reviews and design, strategic planning, IT selection and implementation, development of procedures manuals, and institutional strengthening. He has assisted numerous entities to prepare business plans and financial projections, and facilitated strategic planning exercises for government agencies and companies in the financial, manufacturing, health, and education sectors. He has served on a number of local and regional boards. He holds a Bachelor of Science degree in Aeronautical Engineering, an MBA and an MSc in Information Systems. Lissant L. Mitchell Non-Executive Board Member & Mentor Lissant L. Mitchell is an experienced financial services executive with a successful career spanning over twenty-five years at the senior management and executive levels. With tenures at local institutions as well as regional and international financial groups, he has a proven track record in designing and executing long - term sustainable strategic priorities, change management, divestitures, mergers, acquisitions, and share ownership privatisation. Lissant has a Master of Business Administration - Finance from the University of Manchester in the United Kingdom and a Bachelor of Science (Hons.) - Accounting with Economics from the University of the West Indies Mona, Jamaica. A former Senior Vice President of Wealth Management at Scotiabank Group Jamaica Limited and former Chief Executive Officer at Scotia Investments Jamaica Limited (SIJL), Lissant currently serves as a director of the National Insurance Fund Advisory Board in the capacity of the Chair of its Investment and Real Estate Committee. He also serves in the capacity of the Chair for the Audit and Finance Committees at Indies Pharma Jamaica Limited and JFP Limited, respectively. He is the Jamaica Stock Exchange Mentor for the two latter entities as well as Future Energy Source Company Limited (FESCO). He has held directorships with the Jamaica Stock Exchange, SIJL, and a number of companies within the Scotiabank Group locally and regionally. 14 CONSOLIDATED BAKERIES (JAMAICA) LIMITED

Corporate Data BOARD OF DIRECTORS Anthony V. Chang Nicola Chang Murphy Noel daCosta Lamar Harris Marshall Ogle Lissant L. Mitchell CORPORATE SECRETARY Victor Salazar-Chang REGISTRAR AND TRANSFER AGENTS Jamaica Central Securities Depository Ltd. P.O. Box 1084 40 Harbour Street Kingston AUDITOR Bogle & Company Chartered Accountants 6 South Avenue Unit 6, Dragon Center Kingston 10 BANKERS Bank of Nova Scotia First Global Bank Ltd. Jamaica Money Market Brokers (JMMB) National Commercial Bank Ltd. Sagicor Bank Jamaica Limited ATTORNEYS-AT-LAW Myers Fletcher and Gordon 21 East Street Kingston Foga Daley Patent & Trademark Agents 7 Stanton Terrace Kingston 6 REGISTERED OFFICE 2F Valentine Drive Kingston 19 15 2025 ANNUAL REPORT

Corporate Governance The Board of Directors of Consolidated Bakeries (Jamaica) Limited is responsible for the Company’s corporate governance system. Corporate governance is the framework that ensures the right questions are asked and that checks and balances are in place so the answers serve the goal of creating long-term, sustainable value. The Directors form a strong, independent, and knowledgeable Board that aims to make decisions in the best interests of the Company and its stakeholders. They also exercise their authority to ensure the Company and its employees adhere to legal and ethical standards. Board of Directors Composition As of December 31, 2025, the Board of Directors comprises 4 independent directors, 1 non-executive director, and 1 executive director, all of whom are qualified, objective, and committed, and possess diverse skills and backgrounds to serve effectively on various board committees. The names of the directors and their qualifications are set out in the Directors’ Profile section of this report. The definitions of these directors are: z An independent director is a member of the board of directors who does not participate in day- to-day management but may be involved in policymaking and planning. They have no relationships or financial ties with the company, its senior management, or any affiliate companies. Additionally, the independent director does not own more than 3% of the company’s voting shares. z A non-executive director is a member of the board of directors who does not participate in day- to-day management but may be involved in policymaking and planning. z An executive director is a member of the board of directors who is deeply involved in the company’s day-to-day management. The Board and its Committees Board of Directors Anthony Chang Chairman/Managing Director Lamar Harris Independent Director Nicola Chang Murphy Non-Executive Director Marshall Ogle Independent Director Noel daCosta Independent Director Lissant L. Mitchell Independent Director/Mentor 16 CONSOLIDATED BAKERIES (JAMAICA) LIMITED

Audit Committee The Audit Committee is a working committee of the company’s board of directors. It maintains direct communication with the company’s financial controller. Its responsibilities include overseeing financial reporting, monitoring accounting policies, supervising external auditors, ensuring regulatory compliance, and discussing risk-management policies with management. The Audit Committee comprises 4 directors: Marshall Ogle Chairman Anthony Chang Executive Director Noel daCosta Independent Director Lamar Harris Independent Director Compensation Committee The Compensation Committee is a sub-committee of the company’s board of directors. It primarily sets pay levels for senior management. It also oversees all matters related to compensation for other staff and makes recommendations as needed to ensure fairness and equity across the organisation. Additionally, the Committee ensures that compensation levels remain competitive within the industry and environment to help the company attract and retain qualified, experienced, and skilled employees. The Compensation Committee comprises 3 directors: Noel daCosta Chairman Anthony Chang Executive Director Lissant L. Mitchell Non-Executive Board Member/Mentor Attendance at Meetings for the Year 2025 The Members of the Committee and their attendance at the respective meetings for the 2025 financial year are reflected in the Table below: Annual General Meeting Board of Directors’ Meeting Audit Committee Meeting Compensation Committee Meeting Number of meetings 1 5 3 5 Anthony Chang 1 5 2 5 Nicola Chang Murphy 1 5 - - Noel daCosta 1 5 3 5 Marshall Ogle 1 4 3 - Lamar Harris - 4 2 - Lissant L. Mitchell 1 5 - 5 17 2025 ANNUAL REPORT

Board and Committee Meeting Fees Chairman’s fee for both the Audit and the Compensation/HR Committee is $56,250, which is $75,000 less the withholding tax of 25%. The Directors’ fee is $52,500, which is $70,000 less the withholding tax of 25%. Travel Expense Reimbursement All Directors will be reimbursed for reasonable travel expenses incurred in attending meetings of the Company’s Board of Directors and its Committees. Annual General Meetings Annual general meetings with shareholders are held each year to enable shareholders to provide input and have their questions addressed. Articles of Incorporation T h e C o m p a n y ’s A r t i c l e s o f Incorporation were not amended during the review period. The Corporate Governance Guidelines can be found on the company’s website at www.purity.com.jm 18 CONSOLIDATED BAKERIES (JAMAICA) LIMITED

Top 10 Shareholders NAME VOLUME Chang Brothers Limited 125,565,956 Anthony V. Chang 20,476,368 General Accident Insurance Company Ja. Ltd. 11,863,631 Everton A. Smith 9,348,965 Everton J. Smith 7,750,000 Lissant L. Mitchell 4,083,598 QWI Investments Limited 3,484,100 David W.Y. Chang 3,216,000 Michael Subratie 2,452,590 National Supply Co. Ltd. 2,029,805 Directors’ Shareholdings NAME VOLUME Anthony V. Chang* 20,476,368 Lissant L. Mitchell 4,083,598 Noel daCosta 800,000 Nicola Chang Murphy* 89,000 Victor Salazar Chang 4,392 Marshall Ogle 0 Lamar Harris 0 *Directors are major shareholders in Chang Brothers Limited. Senior Managers’ Shareholdings NAME VOLUME Christopher Goodison 17,000 Javier Salazar-Chang 0 Rose Levy 0 Tamecia Reid 0 20 CONSOLIDATED BAKERIES (JAMAICA) LIMITED

Management Discussion & Analysis EXECUTIVE SUMMARY Consolidated Bakeries (Jamaica) Limited (PURITY) delivered a meaningful performance improvement in its financial results for the year ended December 31, 2025. After navigating a challenging 2024 marked by elevated input costs and a net loss, the Company returned to profitability in 2025, recording a net profit of $6.5 million compared with a net loss of $12.0 million in 2024. Total revenues reached $1.65 billion, representing growth of 3.2% over the prior year. More significantly, operating efficiency improved substantially, with the Company improving from an operating loss of $8.0 million in 2024 to an operating profit of $23.7 million in 2025. Gross profit advanced 10.5% to $643.9 million, with the gross margin expanding 2.4% to 39.0%, reflecting the early benefits of disciplined cost management and procurement initiatives. The balance sheet remained robust, anchored by total equity of $1.60 billion. The Company successfully refinanced its debt portfolio through a new $600 million term loan facility with Sagicor Bank Jamaica Limited of which $300 million had been drawn as at year - end, extending the maturity profile and improving liquidity. Cash and cash equivalents increased 80.5% to $96.9 million, and the current ratio improved to 2.11 from 1.60, underscoring a materially stronger working capital position. Notwithstanding this strong full- year performance, the fourth quarter results were impacted by Hurricane Melissa, which affected the western region of the island. The storm caused temporary store closures and operational disruptions, including stores that remained closed for the remainder of the quarter, resulting in an estimated reduction in sales. In response to the situation and to meet heightened customer demand for essential items, the Company made a deliberate decision to increase production of bread products, which carry a smaller margin relative to pastries and single-serve items. 21 2025 ANNUAL REPORT

This strategic shift in product mix, combined with the operational disruption, contributed to a decline in fourth-quarter gross profit and margin. Despite these challenges, the Company achieved a significant improvement in full-year operating performance compared with 2024, reflecting stronger operational execution throughout the year. The Company expects additional cost pressure in the near term given the instability in the world market. It is therefore important that we focus on margin management. Our strategic priorities, centred on margin recovery, product innovation, and operational efficiency, are yielding measurable results. Management remains confident in the long-term outlook and committed to delivering sustainable value for all stakeholders. FINANCIAL PERFORMANCE HIGHLIGHTS Key Performance Metrics The following table summarises the Company’s principal financial metrics for the years ended December 31, 2025, and December 31, 2024: Metric 2025 (J$’000) 2024 (J$’000) Change Total Revenue 1,649,734 1,598,777 +3.2% Gross Profit 643,895 582,477 +10.5% Gross Margin (%) 39.0% 36.5% +2.4% Operating Profit/(Loss) 23,673 (7,956) +$31,629 EBITDA 78,193 41,295 +89.3% EBITDA Margin (%) 4.7% 2.6% +2.1% Net Profit/(Loss) 6,511 (12,007) +$18,518 Net Margin (%) 0.4% (0.75%) 1.15% Earnings Per Share (J$) 0.03 (0.05) 0.08 Revenue and Gross Profit Total revenue for the year ended December 31, 2025, was $1.65 billion, an increase of $51.0 million or 3.2% over the $1.60 billion recorded in 2024. This growth reflects steady demand for the Company’s core baked goods portfolio, continued market share gains in select categories. Revenue Growth Trend ($Million) 2019 0 200 400 600 800 1,000 1,200 1,400 1,600 1,800 2020 2021 2022 2023 2024 2025 22 CONSOLIDATED BAKERIES (JAMAICA) LIMITED

Gross profit of $643.9 million represents a year-on-year increase of $61.4 million or 10.5%. The gross margin of 39.0% compares favourably to 36.5% in 2024, a 2.4% improvement reflecting disciplined procurement, better supplier terms, and a gradual easing of the raw material cost pressures that weighed on the 2024 result. Cost of goods sold of $1.006 billion grew at a slower rate than revenue, reflecting the impact of cost containment initiatives. Operating Performance and EBITDA The swing from an operating loss of $8.0 million in 2024 to an operating profit of $23.7 million in 2025 is the most important operating milestone for the year. This turnaround was driven by the combination of higher gross margins and a more disciplined approach to controllable operating expenditures. Selling and distribution expenses declined to $257.0 million from $281.6 million in 2024, a reduction of $24.6 million or 8.7%, primarily reflecting savings in travelling and motor vehicle costs and a more focused promotional spend. Administrative expenses rose modestly to $308.7 million from $259.6 million, primarily reflecting higher salaries, elevated professional fees, and increased travelling and motor vehicle costs as the business invested in organisational capacity. Management continues to prioritise cost discipline within the administrative function. EBITDA of $78.2 million represents an 89.3% increase over the $41.3 million reported in 2024, with the EBITDA margin expanding to 4.7% from 2.6%. Depreciation and amortisation of $54.5 million (2024: $49.3 million) reflects the ongoing investment in productive capacity. Net Profit Performance Finance costs increased to $27.2 million from $19.7 million, reflecting the higher average borrowings associated with the Sagicor Bank refinancing completed during the year. This was partially offset by a substantial improvement in other revenue, which grew to $14.4 million from $8.1 million, driven principally by a $12.8 million realised gain on foreign currency and investment valuation, and $1.8 million in interest income. Income tax expense of $4.4 million was recognised in 2025 compared to a deferred tax benefit of $7.6 million in 2024, reflecting the return to taxable profitability. The net profit after tax of $6.5 million compares to a net loss of $12.0 million in 2024, a turnaround of $18.5 million. Earnings per share was $0.03 compared to a loss per share of $0.05 in 2024. BALANCE SHEET AND FINANCIAL POSITION Balance Sheet Summary Total assets as at December 31, 2025 were $2.086 billion, compared to $2.105 billion in 2024. The marginal decrease reflects a reduction in inventory levels, the liquidation of 23 2025 ANNUAL REPORT

financial investments, and the natural depreciation of the property, plant and equipment base, partially offset by higher cash balances and trade receivables. The balance sheet remains well-capitalised and strategically sound. Balance Sheet (J$’000) Dec 2025 Dec 2024 NON-CURRENT ASSETS Property, Plant & Equipment 1,716,076 1,743,762 Total Non-Current Assets 1,716,076 1,743,762 CURRENT ASSETS Inventories 108,387 128,437 Trade & Other Receivables 164,728 155,591 Financial Investments - 23,762 Cash & Cash Equivalents 96,919 53,713 Total Current Assets 370,034 361,503 TOTAL ASSETS 2,086,110 2,105,265 EQUITY Share Capital 90,727 90,727 Capital Reserve 20,826 20,826 Revaluation Reserve 1,446,599 1,446,599 Retained Earnings 43,827 37,316 Total Equity 1,601,978 1,607,104 NON-CURRENT LIABILITIES Borrowings (non-current) 306,971 272,493 Deferred Tax 1,566 2,098 Total Non-Current Liabilities 308,537 274,591 CURRENT LIABILITIES Borrowings (Current) 23,802 57,919 Trade Payables 125,062 138,911 Accruals 26,730 26,740 Total Current Liabilities 175,594 223,570 TOTAL LIABILITIES 484,131 498,161 TOTAL LIABILITIES & EQUITY 2,086,110 2,105,265 24 CONSOLIDATED BAKERIES (JAMAICA) LIMITED

Key Balance Sheet Ratios Ratio 2025 2024 Movement Current Ratio 2.11x 1.60x +0.51x Total Debt / Total Assets 15.86% 15.69% +17 bps Equity Ratio (Equity/Total Assets) 76.8% 76.3% +50 bps Net Debt (J$’000) 233,853 253,800 -7.9% Return on Equity (%) 0.4% (0.75%) 1.15% Return on Assets (%) 0.3% (0.57%) 0.87% Book Value Per Share (J$) 7.20 7.22 -0.3% Debt and Capital Structure Total borrowings stood at $330.8 million (2024: $330.4 million). During the year, the Company executed a significant refinancing, entering into a $600 million term loan facility with Sagicor Bank Jamaica Limited at a fixed interest rate of 10.25% per annum, maturing in 2035, of which $300 million had been drawn at year - end. The proceeds were used to retire existing facilities with National Commercial Bank Jamaica Limited and Jamaica Money Market Brokers. This financing materially extended the Company’s debt maturity profile, reduced near-term principal repayment obligations, and provided greater financial planning certainty. C u r re n t b o r ro w i n g s d e c l i n e d substantially to $23.8 million from $57.9 million in 2024, reflecting the reclassification of debt to long-term following the refinancing. The equity ratio improved to 76.80% from 76.30%, and net debt reduced by $20.0 million to $233.9 million, providing increased headroom for future investment. Working Capital and Liquidity Working capital strengthened considerably in 2025. The current ratio improved to 2.11 from 1.60 in 2024, and net operating cash inflow of $60.5 million compares very favourably with an outflow of $40.6 million in the prior year. This improvement was driven by a $20.1 million reduction in inventories as management optimised stock levels, alongside disciplined receivables management. Trade receivables increased to $164.7 million from $155.6 million, consistent with the higher revenue base. Cash and cash equivalents ended the year at $96.9 million, an increase of $43.2 million or 80.5% over the opening balance. The Company’s liquidity position is the strongest it has been in recent years, providing a solid foundation for executing its strategic growth agenda. $2.086B Total Assets 25 2025 ANNUAL REPORT

CASH FLOW REVIEW The Company’s cash generation in 2025 reflects a material normalisation following the working capital investments of 2024. The key movements are summarised below: Cash Flow (J$’000) 2025 2024 Net Cash from Operating Activities 60,491 (40,577) Net Cash from Investing Activities (3,154) (27,479) Net Cash from Financing Activities (14,131) 76,975 Net Increase in Cash Held 43,207 8,919 Closing Cash & Cash Equivalents 96,919 53,713 Operating cash generation of $60.5 million was driven by the return to profitability, a $20.1 million inventory reduction, and stable trade payables management. Capital expenditure of $33.5 million (2024: $33.6 million) remained consistent, reflecting the Company’s commitment to maintaining and upgrading productive capacity. The net financing outflow of $14.1 million reflects the draw-down of the new Sagicor facility of $300 million, along with the $314.1 million in loan repayments as legacy facilities were retired. Proceeds of $6.6 million from the disposal of fixed assets and $23.8 million from the liquidation of financial investments also contributed to the improved cash position. Profit (Loss) from operations 2019 2020 2021 2022 2023 2024 2025 0 -10 10 20 30 40 50 60 70 -4 3 -11 32 -8 24 65 26 CONSOLIDATED BAKERIES (JAMAICA) LIMITED

EBITDA Growth Trend ($Million) 2025 2024 2023 2022 2021 2020 2019 27 37 22 67 74 41 78 Export Growth Trend ($Million) 2025 2024 2023 2022 2021 2020 2019 25 24 30 40 60 84 100 27 2025 ANNUAL REPORT

RISK MANAGEMENT The Company operates within a structured risk management framework that identifies and monitors key financial and operational exposures. The principal risks are summarised below: Credit Risk The Company’s maximum exposure to credit risk through trade receivables and cash instruments totalled $261.6 million as at December 31, 2025. Trade receivables gross balance was $61.6 million, against which an expected credit loss (ECL) allowance of $8.2 million has been established. The overall ECL rate of 13.35% reflects historical collection patterns and forward-looking customer assessments. All trade receivable exposures are concentrated in Jamaica, primarily with wholesale customers who account for $55.2 million or 89.6% of the gross balance. Liquidity Risk Liquidity risk is actively managed through maintaining sufficient cash balances, available credit facilities, and alignment between asset and liability maturities. The current ratio of 2.11 and closing cash of $96.9 million reflect a comfortable liquidity buffer. Contractual obligations are well-structured, with the majority of borrowings maturing beyond five years following the Sagicor refinancing. Currency Risk Foreign currency risk arises principally from the Company’s USD-denominated cash balances and export-related transactions. As at December 31, 2025, USD cash holdings were $22.4 million (JMD equivalent) and CAD holdings were negligible at $48,126. A 3% appreciation of the USD against the JMD would reduce net profit by approximately $0.7 million, while a 5% depreciation would increase net profit by approximately $1.1 million. The Company’s natural hedge through export revenues partially mitigates this exposure. Interest Rate Risk The Company’s borrowings are predominantly fixed-rate in nature. The Sagicor term loan carries a fixed rate of 10.25% per annum, and the Barita Investments facility carries 11.80%. The bank overdraft facility attracts a variable rate of 23.75%, though the balance is managed as a short-term instrument. Management monitors interest rate movements and will seek to refinance at favourable rates where opportunities arise. STRATEGIC PROGRESS AND OPERATIONAL REVIEW Export Growth and International Expansion Export markets represent one of the Company’s most compelling growth opportunities. Our brands have continued to build momentum with the diaspora communities and a $60.5M Net Operating Cash Inflow 28 CONSOLIDATED BAKERIES (JAMAICA) LIMITED

growing base of new consumers are responding positively to the PURITY product range. To support this trajectory, management is actively evaluating strategic partnerships and co-manufacturing arrangements that would reduce shipping costs, shorten delivery lead times, and enable deeper market penetration. This is a deliberate and phased approach designed to scale international revenue without overextending the Company’s capital or operational bandwidth. Product Innovation and Portfolio Evolution The strategic diversification of the product portfolio that began in earnest several years ago continues to reshape the Company’s revenue profile. Products introduced or targeted within the past five years now represent a significant and growing share of total revenue, demonstrating the Company’s capacity to identify consumer trends and bring relevant products to market. The shift away from a predominantly bread-centric revenue base toward pastries, snacks, and single-serve baked goods, segments that more closely align with evolving consumer preferences, has contributed to more stable revenue performance and improved margin composition. Management remains committed to seizing oppor tunities and strengthening its competitive position through continued investment in new product development as a core driver of long-term growth. Capital Investment Capital expenditure of $33.5 million in 2025 (2024: $33.6 million) was directed toward machinery upgrades, equipment modernisation, and production infrastructure improvements that directly support the Company’s higher-performing product lines. These investments re f l e c t a d i s c i p l i n e d c a p i t a l allocation philosophy, prioritising returns-accretive projects with clear strategic rationale. The Company also disposed of motor vehicles with a net book value of approximately $6.7 million, realising proceeds of $6.6 million and rationalising the fixed asset base. Total property, plant and equipment net book value stood at $1.716 billion as at December 31, 2025, with land valued at $989.2 million. Organisational Development and Human Capital The transformation of the Company’s organisational culture from a legacy, production-focused environment to a more agile, performance-driven operation continued throughout 2025. Investment in staff development, Products introduced or targeted within the past five years now represent a significant and growing share of total revenue 29 2025 ANNUAL REPORT

f a c i l i t i e s i m p rove m e n t s , a n d management process redesign has supported improved engagement and productivity. Customer Base and Market Penetration The Company maintains a well- diversified domestic customer base serving both wholesale and end-user segments. As at December 31, 2025, wholesale customers accounted for $55.2 million or 89.6% of the gross trade receivable balance, with end-user customers representing the remaining 10.4%. This ratio is generally in line with the Company’s distribution structure and reflects the strong wholesale distribution network and its ability to service large retail and institutional accounts consistently. Domestically, PURITY retains an enviable position in the baked goods category in Jamaica. All trade receivable exposures are from domestic customers, reflecting the primacy of the home market even as international expansion accelerates. STRATEGIC PRIORITIES FOR 2026 AND BEYOND Building on the operational and financial recovery achieved in 2025, management has identified the following strategic priorities for the period ahead: We will strengthen our position by developing distinctly positioned brands that deliver convenient, high- quality food inspired by Jamaican and Caribbean flavours, with consistently superior sensory experiences. Our focus remains clear: reinforce leadership in core categories while expanding into adjacent and higher- growth segments aligned with evolving consumer needs. We will extend our presence across both local and international markets, leveraging our brands and execution capabilities to ensure our products are widely available, consistently delivered, and relevant in each market we serve. We will maintain a disciplined focus on delivering products that consistently meet consumer expectations for taste, texture, and overall eating experience, while progressively improving the nutritional profile of our offerings where appropriate. This will be supported by strong brand positioning and disciplined in-market execution, ensuring products reach consumers in optimal condition and with a reliable, high-quality experience.  Wholesale  End - User 30 CONSOLIDATED BAKERIES (JAMAICA) LIMITED

We will continue to build on our existing platforms while developing new ones to broaden our category presence and enhance our product mix. Key brands within our portfolio, including Purity and Miss Birdie, demonstrate the strength of our positioning and our ability to connect with consumers both locally and in international markets. We are deliberately increasing our use of technology, data, and analytics to strengthen decision-making and execution. This will enable greater operational precision and agility, reduce scale-related constraints, and support innovation as we pursue new avenues for sustainable growth. MARKET OUTLOOK The macroeconomic environment in Jamaica and in key export markets is expected to present both opportunities and headwinds in the near term. Inflationary pressures on key inputs, particularly raw materials, and energy, remain a key consideration. Global supply chain dynamics and foreign exchange volatility also remain areas of focus. Consumer demand for baked goods in Jamaica is relatively resilient, supported by population growth, urbanisation, and the enduring relevance of the category across all income segments. The growing diaspora market in North America represents a structural demand driver for authentic Jamaican baked goods that management is well-positioned to capitalise on. Consolidated Bakeries enters 2026 from a position of financial strength and operational momentum. The fundamentals are sound: a leading domestic market position, a diversified and growing product portfolio, a strengthened balance sheet, and an experienced management team aligned on a clear strategic direction. The Board and management are confident in the Company’s capacity to deliver sustainable, long-term value creation for shareholders. The growing diaspora market in North America represents a structural demand driver for authentic Jamaican baked goods that management is well‑positioned to capitalise on. 31 2025 ANNUAL REPORT

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CONCLUSION AND APPRECIATION The 2025 financial year represents a genuine inflection point for Consolidated Bakeries (Jamaica) Limited. The return to profitability, the substantial improvement in operating performance, the strengthening of the liquidity position, and the successful completion of a major debt refinancing collectively position the Company on a stronger footing for the next phase of its strategic journey. We extend our sincere appreciation to our shareholders, customers, suppliers, employees, and all other stakeholders for their continued confidence and support. The dedication of our team, at every level of the organisation, has been integral to the progress achieved in 2025. As we look towards 2026, we remain focused on operational excellence, strategic discipline, and the creation of enduring value for all who have a stake in this business. 34 CONSOLIDATED BAKERIES (JAMAICA) LIMITED

Corporate Social Responsibility 2025 Hurricane Melissa Relief Efforts: Delivering Care, Strengthening Communities In November 2025, we had the opportunity to support communities most affected by the aftermath of Hurricane Melissa through the distribution of care packages and strategic partnerships with several organisations. Through a partnership with FYI Consultancy, we distributed 200 care packages to residents in Southern Trelawny. This initiative was carried out in collaboration with other corporate partners including the JN Foundation, Hyundai, Purewater, and St. John’s Ambulance, with activities coordinated at Albert Town High School. The outreach extended into North Central Clarendon, where we successfully distributed 200 care packages to residents in Mocho, Trout Hall, Woodhall, and New Ground. We were grateful to receive bottled water donations from Celebration Brands through their brand Crystal 35 2025 ANNUAL REPORT

Punch, which were included in the care packages to support affected residents. Our outreach efforts continued with a return to Southern Trelawny, where we distributed an additional 250 care packages to residents in Albert Town, Spring Gardens, Rock Spring/ Ruthmel, Carter District, Craig Head, Warsop, Troy, and Christiana. During this phase, we partnered with Coldfield Manufacturing Limited through their brand BigJo, which generously provided box drinks, bottled beverages, bag juices, and bag water to further enhance the care packages. Honouring Everyday Heroes: A Celebration of Community, Service, and Impact As part of our ongoing Corporate Social Responsibility, Consolidated Bakeries proudly extended heartfelt appreciation to some of Jamaica’s true everyday heroes. We paid a special visit to the brave firefighters at York Park Fire Station, honouring their courage and commitment with a gesture of gratitude. The outreach also continued in Portmore, where Kingdom Covenant Family Church—a cornerstone in the Reid’s Pen community—was recognised for its impactful work and dedication to uplifting lives. We were also pleased to show our appreciation to the dedicated employees of HiLo Cross Roads, supporting their employee engagement activity as they requested. As part of our broader branded initiatives, curated gift bags were also presented to select media professionals from TVJ and CVM, acknowledging their role in shaping our national conversations and keeping the Jamaican spirit strong. It’s our way of saying thank you— because giving back is baked into who we are. 36 CONSOLIDATED BAKERIES (JAMAICA) LIMITED

Spreading Summer Joy: Supporting Youth, Learning, and Community Growth As the summer holidays approached, we showed our support to Jamaica’s children in various ways, whether by donating to summer programmes or Vocational Bible Schools held by various churches. Our children are precious, and we wanted to play a part in helping them enjoy their summer holidays with some delicious treats that they deserved. The donations we’ve done are as follows: z Clonmel Primary Graduation z CLBL Foundation Summer Learning Session z Our Lady of the Angels Catholic Church Summer Camp z Cassava River Kids Treat z Faith Apostolic Ministries Youth Camp z UTECH Teach the Youth Sports Day Event z Lauriston & Thompson Pen Community 4-H Club Annual Anniversary Event We reinforced our commitment to supporting education by visiting summer camps in Nannyville and Mountain View Avenue, where we engaged with children who displayed a genuine enthusiasm for learning. Recognising that these communities are often affected by negative perceptions, we made a deliberate effort to ensure these students received the same level of recognition, encouragement, and support as children in any other community. Spreading Holiday Cheer: Giving Back to the Annie Dawson Children’s Home 37 2025 ANNUAL REPORT

To close out the year, in December 2025, we proudly carried out a heartfelt holiday outreach initiative with a visit to the Annie Dawson Children’s Home in St. Andrew. This engagement was designed not only to give, but to create a meaningful and uplifting experience for both the children and the dedicated staff who care for them. During the visit, we presented thoughtfully curated gift bags tailored for both the children and staff, ensuring that everyone felt included and appreciated during the festive season. Beyond the gifts, our team spent quality time connecting with the residents through lively interaction, singing, games, and entertainment, transforming the day into a warm and joyful celebration filled with laughter and shared moments. Through initiatives like this, we continue to reaffirm our commitment to supporting vulnerable communities, strengthening meaningful partnerships, and giving back in impactful and heartfelt ways throughout the year. Sharing the Love We were happy to come alongside Lodge St. John, who hosted their Annual Easter Treat for the children of Boys Town Infant School in Trench Town and North Street Primary. It was such a great honour to share the love with the next generation, practising what we’ve always preached, “Love is the best ingredient.” 38 CONSOLIDATED BAKERIES (JAMAICA) LIMITED

The Financials

46 to 78, which comprise the statements of financial position as 40 CONSOLIDATED BAKERIES (JAMAICA) LIMITED UNIT #6, DRAGON CENTRE, 6 SOUTH AVENUE, KINGSTON 10 Tel: 876-926-6148, 968-0506 Fax: 876-906-0311 www.bogleandcompany.com email: [email protected]

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42 CONSOLIDATED BAKERIES (JAMAICA) LIMITED

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44 CONSOLIDATED BAKERIES (JAMAICA) LIMITED

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The accompanying notes form a part of these financial statements 46 CONSOLIDATED BAKERIES (JAMAICA) LIMITED Statement of Finanical Position As at December 31, 2025

The accompanying notes form a part of these financial statements 47 2025 F INANCIAL STATEMENTS Statement of Profit or Loss and Comprehensive Income For year ended December 31, 2025

The accompanying notes form a part of these financial statements 48 CONSOLIDATED BAKERIES (JAMAICA) LIMITED Statement of Changes in Equity For the Year Ended December 31, 2025

The accompanying notes form a part of these financial statements 49 2025 F INANCIAL STATEMENTS Statement of Cash Flow For year ended December 31, 2025

Notes to the Financial Statements December 31, 2025 50 CONSOLIDATED BAKERIES (JAMAICA) LIMITED

Notes to the Financial Statements December 31, 2025 51 2025 F INANCIAL STATEMENTS

Notes to the Financial Statements December 31, 2025 52 CONSOLIDATED BAKERIES (JAMAICA) LIMITED

Notes to the Financial Statements December 31, 2025 53 2025 F INANCIAL STATEMENTS

Notes to the Financial Statements December 31, 2025 54 CONSOLIDATED BAKERIES (JAMAICA) LIMITED

Notes to the Financial Statements December 31, 2025 55 2025 F INANCIAL STATEMENTS

Notes to the Financial Statements December 31, 2025 56 CONSOLIDATED BAKERIES (JAMAICA) LIMITED

Notes to the Financial Statements December 31, 2025 57 2025 F INANCIAL STATEMENTS

Notes to the Financial Statements December 31, 2025 58 CONSOLIDATED BAKERIES (JAMAICA) LIMITED

Notes to the Financial Statements December 31, 2025 59 2025 F INANCIAL STATEMENTS

Notes to the Financial Statements December 31, 2025 60 CONSOLIDATED BAKERIES (JAMAICA) LIMITED

Notes to the Financial Statements December 31, 2025 61 2025 F INANCIAL STATEMENTS

Notes to the Financial Statements December 31, 2025 62 CONSOLIDATED BAKERIES (JAMAICA) LIMITED

Notes to the Financial Statements December 31, 2025 63 2025 F INANCIAL STATEMENTS

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Notes to the Financial Statements December 31, 2025 65 2025 F INANCIAL STATEMENTS

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Notes to the Financial Statements December 31, 2025 67 2025 F INANCIAL STATEMENTS

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Notes to the Financial Statements December 31, 2025 69 2025 F INANCIAL STATEMENTS

Notes to the Financial Statements December 31, 2025 70 CONSOLIDATED BAKERIES (JAMAICA) LIMITED

Notes to the Financial Statements December 31, 2025 71 2025 F INANCIAL STATEMENTS

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Notes to the Financial Statements December 31, 2025 73 2025 F INANCIAL STATEMENTS

Notes to the Financial Statements December 31, 2025 74 CONSOLIDATED BAKERIES (JAMAICA) LIMITED

Notes to the Financial Statements December 31, 2025 75 2025 F INANCIAL STATEMENTS

Notes to the Financial Statements December 31, 2025 76 CONSOLIDATED BAKERIES (JAMAICA) LIMITED

Notes to the Financial Statements December 31, 2025 77 2025 F INANCIAL STATEMENTS

78 CONSOLIDATED BAKERIES (JAMAICA) LIMITED Notes to the Financial Statements December 31, 2025

Form of Proxy I/We _______________________________ of ______________________ in the Parish of ____________________ being Member/Members of the above - named company hereby appoint _____________________________ of ________________________________ or failing him/ her____________________________ of ____________________________ as my/our proxy to vote for me/us and on my/our behalf at the Annual General Meeting of the Company to be held at The Liguanea Club, 80 Knutsford Boulevard, New Kingston, Kingston 5, Jamaica, W.I, on August 26, 2026, at 10:00 a.m. to 1:00 p.m. and at any adjournment thereof. RESOLUTIONS FOR AGAINST Resolution No. 1: Adoption of Directors and Auditors Report, Financial Statement for year ended December 31, 2025 Resolution No. 2: That the Directors, retiring by rotation, be re-elected by a Single Resolution Resolution No. 3: That Noel daCosta, and Lamar Harris be and are hereby re-elected as directors of the Company Resolution No. 4: Remuneration of Directors for the year ended December 31, 2025 Resolution No. 5: To appoint Auditors and to authorise the Directors to fix the remuneration of the Auditors. Signed this ____ day of ________________________ 2026 Signature CONSOLIDATED BAKERIES (JAMAICA) LIMITED 2F Valentine Drive Kingston 19, Jamaica (West Indies) REGISTRAR AND TRANSFER AGENTS Jamaica Central Securities Depository Limited 40 Harbour Street, Kingston Notes: 1. An instrument appointing a proxy shall, unless the contrary is stated thereon, be valid as well for any adjournment of the meeting as for the meeting to which it relates and need not be witnessed. 2. If the appointer is a corporation, this form must be under its common seal or under the hand of an officer or attorney duly authorised in writing. 3. In the case of joint holders, the vote of the senior will be accepted to the exclusion of the votes of others, seniority being determined by the order in which the names appear on the register. 4. To be valid, this form must be received by the Registrar of the Company at the address given below not less than 48 hours before the time fixed for holding the meeting or adjourned meeting. 5. The proxy form should bear stamp duty of One Hundred dollars ($100.00), which may be in the form of an adhesive stamp duly cancelled by the person signing the proxy form..

Consolidated Bakeries (Jamaica) Limited 2F Valentine Drive Kingston 19 +1 (876) 924-1151-3 +1 (876) 925-2649 [email protected] purity.com.jm    ENvelope-square  square-facebook PurityBakeryJamaica square-twitter @puritybakeryjam instagram @purityja square-youtube Purity Bakery Jamaica square-facebook MissBirdieJamaica square-twitter @missbirdieja instagram @MissBirdieJamaica square-youtube Purity Bakery Jamaica