LASCO Distributors Limited (LASD) – Audited Financial Statements for the Financial Year Ended March 31, 2026

LASCO DISTRIBUTORS LIMITED FINANCIAL STATEMENTS 31 MARCH 2026

LASCO DISTRIBUTORS LIMITED FINANCIAL STATEMENTS 31 MARCH 2026 I N D E X PAGE Independent Auditors’ R eport to the M embers 1 - 4 FINANCIAL STATEMENTS Statement of Profit or Loss and Other Comprehensive Income 5 Statement of Financial Position 6 Statement of Changes in Equity 7 Statement of Cash Flows 8 Notes to the Financial Statements 9 - 4 9

Page 5 LASCO DISTRIBUTORS LIMITED STATEMENT OF PROFIT OR LOSS AND OTHER COMPREHENSIVE INCOME YEAR ENDED 31 MARCH 2026 Note 2026 2025 $’000 $’000 REVENUE 7 31,674,360 30,256,427 COST OF SALES ( 26, 422,370 ) ( 25,020,741 ) GROSS PROFIT 5, 251,990 5,235,68 6 Other income 8 344,287 322,29 7 Impairment losses on financial asset s 9 ( 13,276 ) ( 9,648 ) 5,583, 00 1 5, 548,335 EXPENSES: Administrative and other expenses ( 3,2 91,794 ) ( 3, 053,21 2 ) Selling and promotion expenses ( 916,965 ) ( 800,533 ) 9 ( 4, 208,759 ) ( 3,8 53,745 ) OPERATING PROFIT 1, 374,242 1,694,590 Finance cost s 1 1 ( 45,916 ) ( 16,755 ) PROFIT BEFORE TAXATION 1, 328,326 1,677,835 Taxation 1 2 ( 264,868 ) ( 338,967 ) NET PROFIT FOR THE YEAR 1, 063,458 1, 338,868 OTHER COMPREHENSIVE INCOME: Item s that will not be reclassified to profit or loss – Unrealised (losses)/ gains on financial instruments 2 3 (b) ( 34,032 ) 3,512 TOTAL COMPREHENSIVE INCOME 1, 029,426 1, 342,380 E ARNINGS PER STOCK UNIT 1 3 Basic 30. 05 ¢ 37 .97 ¢ Diluted 30 . 02 ¢ 37.97¢

Page 7 LASCO DISTRIBUTORS LIMITED STATEMENT OF CHANGES IN EQUITY YEAR ENDED 31 MARCH 2026 Share Revaluation Fair Value Retained Note Capital Reserve Reserve Earnings Total $’000 $’000 $’000 $’000 $’000 BALANCE AT 1 APRIL 2024 513,186 75,387 72,818 8,858,530 9,519,921 TOTAL COMPREHENSIVE INCOME Net profit - - - 1,338,868 1,338,868 Other comprehensive income - . - . 3,512 - . 3,512 - . - . 3,512 1,338,868 1,342,380 TRANSACTION WITH OWNERS Dividends paid 31 - . - . - . ( 387,827 ) ( 387,827 ) - . - . - . ( 387,827 ) ( 387,827 ) BALANCE AT 31 MARCH 2025 513,186 75,387 76,330 9,809,571 10,474,474 TOTAL COMPREHENSIVE INCOME Net profit - - - 1, 063,458 1, 063,458 Other comprehensive income - . - . ( 34,032 ) - . ( 34,032 ) - . - . ( 34,032 ) 1, 063,458 1, 02 9 ,426 TRANSACTION S WITH OWNERS Issue of share capital 18,500 - - - 1 8,500 Dividends paid 31 - . - . - . ( 423,084 ) ( 423,084 ) 18,500 - . - . ( 423,084 ) ( 4 04,584 ) BALANCE AT 31 MARCH 202 6 531,686 75,387 42,298 10, 449,945 1 1, 099,316

Page 8 LASCO DISTRIBUTORS LIMITED STATEMENT OF CASH FLOWS YEAR ENDED 31 MARCH 2026 Note 2026 2025 $’000 $’000 CASH FLOWS FROM OPERATING ACTIVITIES : Net profit 1, 063,458 1, 338,868 Items not affecting cash resources : Unrealised e xchange loss on foreign balances 60,853 6,777 Gain on d isposal of property, plant and equipment - ( 300) Depreciation 14 127,088 113,324 Amortisation 15 34,671 54,73 5 Right - of - use asset amortisation 16 6,066 4,5 50 Intere st income ( 66,527) ( 68,335) Dividend income 8 ( 7,019) ( 6,166) Impairment losses on financial assets 13,276 9,648 Gain on revaluation of Investment Property 8 ( 76,732) - Interest expense 11 45,916 16,755 Taxation expense 264,868 338,967 1, 465,918 1, 808,823 Changes in operating assets and liabilities : Inventories ( 716, 045 ) ( 758,302 ) Receivables ( 121,940 ) ( 428,298 ) Directors ’ current account - 3,043 Payables 1,325,918 321,706 Related companies ( 31,333 ) ( 6,467 ) 1, 922,518 940,50 5 Taxation paid ( 270,197 ) ( 342,34 6 ) C ash provided by operating activities 1,65 2,321 598,15 9 CASH FLOWS FROM INVESTING ACTIVITIES: Short term investments (net) 2 3 (c) ( 202,252 ) ( 234,598) Interest received 6 9,313 68,335 Dividend received 7,019 6,166 Proceeds from disposal of property plant and equipment - 300 Purchase of investment property 17 - ( 478,268) Purchase of property, plant and equipment 14 ( 485,311) ( 506,306 ) Purchase of intangible assets - . ( 735 ) C ash used in investing activities ( 611,231 ) ( 1,145,106 ) CASH FLOWS FROM FINANCING ACTIVITIES: Loan proceeds 28 472,264 381,480 Loan payments 28 ( 31,790) ( 15,895) Interest paid ( 45,168) ( 15, 846 ) Dividends paid 31 ( 423,084) ( 387,827 ) Issue of share capital 18,500 - Lease payment ( 3,600 ) ( 3,600 ) Cas h used in financing activities ( 12,878 ) ( 41, 688 ) INCREASE/( DE CRE ASE ) IN CASH AND CASH EQUIVALENTS 1, 028,212 ( 588,635 ) Exchange effect on foreign cash balances ( 44,79 6 ) ( 6,755) Cash and cash equivalents at beginning of year 1,592,460 2,187,850 CASH AND CASH EQUIVALENTS AT END OF YEAR 2 3 2, 575,876 1,592,460

Page 9 LASCO DISTRIBUTORS LIMITED NOTES TO THE FINANCIAL STATEMENTS 31 MARCH 2026 1. IDENTIFICATION AND PRINCIPAL ACTIVITIES : (a) Lasco Distributors Limited is a limited liability company incorporated and domiciled in Jamaica. The registered office of the company is 27 Red Hills Road, Kingston 10. The company is listed on the Main Market of the Jamaica Stock Exchange . (b) The p rincipal activit y of the company is the distribut ion of pharmaceuticals and consumable items. The company also export s some of its consumable items. 2. REPORTING CURRENCY: Items included in the financial statements of the company are measured using the currency of the primary economic environment in which the company operates (‘the functional currency’). These financial statements are presented in Jamaican dollars, which is considered the company ’s functional and presentation currency. 3 . MATERIAL ACCOUNTING POLICIES : The principal accounting polic i es applied in the preparation of these financial statements are set out below. The policies have been consistently applied to all the years presented . Amounts are r ounded to the nearest thousand, unless otherwise stated. Where necessary, amounts have been reclassified to conform to current year presentation. (a) Basis of preparation These financial statements have been prepared in accordance with International Financial Reporting Standards and International Accounting Standards as issued by the International Accounting Standards Board (I ASB ) and Interpretations (collectively IFRS Accounting Standards) , and have been prepared under the historical cost convention as modified by the revaluation of freehold land and buildings. They are also prepared in accordance with requirements of the Jamaican Companies Act. The preparation of financial statements in conformity with IFRS Accounting Standards requires the use of certain critical accounting estimates. It also requires management to exercise its judgement in the process of applying the company’s accounting policies. Although these estimates are based on management’s best knowledge of current events and action, actual results could differ from those estimates. The areas involving a higher degree of judgement or complexity, or areas where assumptions and estimates are significant to the financial statements, are disclosed in note 4. New, revised and amended standards and interpretations that became effective during the year Certain new standards, interpretations and amendments to existing standards have been published that became effective during the current financial year. The company has assessed the relevance of all such new standards, interpretations and amendments and has concluded that the following amendments are relevant to its operations:

Page 1 0 LASCO DISTRIBUTORS LIMITED NOTES TO THE FINANCIAL STATEMENTS 31 MARCH 2026 3. MATERIAL ACCOUNTING POLICIES (CONT’D) : (a) Basis of preparation (cont’d) New, revised and amended standards and interpretations that became effective during the year (cont’d) Amendments to IAS 21, ‘Effects of Changes in Foreign Exchange Rates’ – Lack of Exchangeability, (effective for accounting periods beginning on or after 1 January 2025). The amendments specify when a currency is exchangeable into another currency and when it is not as well as how an entity determines the exchange rate to apply when a currency is not exchangeable. A currency is exchangeable when there is an ability to obtain the other currency and the transaction would take place through a market or exchange mechanism that creates enforceable rights and obligations. The amendments also require the disclosure of additional information that would enable users of the financial statements of an entity to evaluate how a currency’s lack of exchangeability affects, or is expected to affect, the entity’s financial performance, financial position and cash flows. The adoption of the amendments to the above standards and interpretations did not have a material impact on the company ’s financial statements . New standards, amendments and interpretations not yet effective and not early adopted At the date of authorization of these financial statements, there were certain new standards, amendments and interpretations to existing standards which were in issue but not yet effective and which the company has not early adopted. The standards which management considered may be relevant to the company are as follows: Amendments to the Classification and Measurement of Financial Instruments – Amendments to IFRS 9 and IFRS 7, (effective for accounting periods beginning on or after 1 January 2026). These amendments clarify the date of recognition and derecognition of some financial assets and liabilities, with a new exception for some financial liabilities settled through an electronic cash transfer system, clarify and add further guidance for assessing whether a financial asset meets the solely payments of principal and interest (SPPI) criterion, add new disclosures for certain instruments with contractual terms that can change cash flows (such as some financial instruments with features linked to the achievement of environment, social and governance targets), and update the disclosures for equity instruments designated at fair value through other comprehensive income (FVOCI). The adoption of these amendments is not expected to have a material impact on the company .

Page 11 LASCO DISTRIBUTORS LIMITED NOTES TO THE FINANCIAL STATEMENTS 31 MARCH 2026 3. MATERIAL ACCOUNTING POLICIES (CONT’D): (a) Basis of preparation (cont’d) New standards, amendments and interpretations not yet effective and not early adopted (cont’d) IFRS 18, ‘Presentation and Disclosures in Financial Statements’, (effective for accounting periods beginning on or after 1 January 2027) . The International Accounting Standards Board (IASB) has published its new standard , IFRS 18 that will replace IAS 1 ‘Presentation of Financial Statements ’ . The new standard is the result of the primary financial statements project and aims at improving how entities communicate in their financial statements. The new standard introduces defined categories (Operating, Investing, Financing, Income Tax and Discontinued Operations) and mandatory subtotals in the statement of profit or loss to enhance comparability and structure, along with stricter rules on aggregation, disaggregation, and the presentation of operating expenses. It also requires detailed disclosures on Management - defined Performance Measures (MPMs), including their calculation, purpose, and reconciliation to IFRS totals, to improve transparency and consistency. The company is still assessing the impact the adoption of this new standard will have on its financial statements. Amendments to IAS 21 ‘ The effects of Changes in Foreign Exchange Rates ’ , ( e ffective for accounting reporting periods beginning on or after 1 January 202 7 ) . The amendments in Translation to a Hyperinflationary Presentation Currency are; When an entity translates amounts from a functional currency that is the currency of a non - hyperinflationary economy to a presentation currency that is the currency of a hyperinflationary economy, the entity translates those amounts, including comparative amounts, using the closing rate at the date of the most recent statement of financial position; when the entity’s presentation currency ceases to be the currency of a hyperinflationary economy and its functional currency continues to be the currency of a non - hyperinflationary economy, the entity applies prospectively (without restatement of the comparative amounts) the method currently applicable in IAS 21 to such situations; and the entity would have to disclose that it has applied the method, including summarised financial information about its foreign operations translated applying the proposed translation method; it would also have to disclose if the economy concerned ceased to be hyperinflationary. Amendments to IAS 7, ‘Statement of Cash Flows’, (effective for accounting periods beginning on or after 1 January 2027). The amendments require all companies to use the operating profit subtotal as defined in IFRS 18 as the starting point for the indirect method of reporting cash flows from operating activities. Additionally, the presentation alternatives for cash flows related to interest and dividends paid and received will be removed. The company does not expect any other standards or interpretations issued by the IASB but no t yet effective, to have a material effect on its financial statements.

Page 12 LASCO DISTRIBUTORS LIMITED NOTES TO THE FINANCIAL STATEMENTS 31 MARCH 2026 3. MATERIAL ACCOUNTING POLICIES (CONT’D) : (b) Foreign currency translation Foreign currency translations are accounted for at the exchange rates prevailing at the dates the transactions. Monetary items denominated in foreign currency are translated to Jamaican dollars using the closing rate as at the reporting date. Exchange differences arising from the settlement of transactions at rates different from those at the dates of the transactions and unrealized foreign exchange differences on unsettled foreign currency monetary assets and liabilities are recognised in profit or loss. (c) Property, plant and equipment Items of property, plant and equipment are recorded at historical cost or deemed cost less accumulated depreciation. Historical cost includes expenditure that is directly attributable to the acquisition of the items. Subsequent costs are included in the asset’s carrying amount or recognized as a separate asset, as appropriate, only when it is probable that future economic benefits associated with the item will flow to the company and the cost of the item can be measured reliably. The carrying amount of any replaced part is derecognized. All other repairs and maintenance are charged to profit or loss during the financial period in which they are incurred. Depreciation on assets under construction does not commence until they are complete and available for use. Depreciation on all other items of property, plant and equipment is calculated on the straight - line method to write off the cost of assets or the revalued amounts, to their residual values over their estimated useful lives. Land is not depreciated as it is deemed to have an indefinite life. The expected useful lives of the other property, plant and equipment are as follows: Buildings 40 years Furniture and fixtures 10 years Equipment 5 years Motor vehicles 5 years Computer 5 years Gains or losses on disposal of property, plant and equipment are determined by comparing proceeds with carrying amounts and are included in profit or loss. On disposal of revalued assets, amounts in revaluation reserve relating to those assets are transferred to retained earnings.

Page 13 LASCO DISTRIBUTORS LIMITED NOTES TO THE FINANCIAL STATEMENTS 31 MARCH 2026 3. MATERIAL ACCOUNTING POLICIES (CONT’D): (d) Intangible assets Intangible assets represent computer software and distribution rights of CIPLA products. Computer software is deemed to have a finite useful life of five years and is measured at cost, less accumulated amortisation and accumulated impairment losses, if any. Distribution rights are deemed to have an indefinite life, are initially recognized at cost and reviewed annually for impairment losses. (e) Investment property Investment property, comprising principally land and building, is held for rental yields and capital appreciation and is treated as a long term investment. It is measured initially at cost, including related transaction costs, and subsequently measured at fair value. Fair value is based on active market prices, adjusted, if necessary, for any difference in the nature, location or condition of the specific asset. The fair value reflects on a similar basis, expected cash outflows in respect of the property. Fair value is determined by an independent registered valuer. Fair value is based on current prices in an active market for similar properties in the same location and condition. Any gain or loss arising from a change in fair value is recognized in profit or loss. (f) Inventories Inventories are stated at the lower of cost and fair value less costs to sell, cost being determined on the first - in, first - out basis. Fair value less costs to sell is the estimated selling price in the ordinary course of business, less selling expenses. (g) Provisions Provisions are recognized when the company has a present legal or constructive obligation as a result of past events; it is probable that an outflow of resources will be required to settle the obligation; and the amount has been reliably estimated. Provisions are not recognized for future operating losses. Where there are a number of similar obligations, the likelihood that an outflow will be required in settlement is determined by considering the class of obligations as a whole. Provisions are measured at the present value of the expenditure expected to be required to settle the obligation using a pre - tax rate that reflects current market assessments of the time value of money and the risks specific to the obligation. The increase in the provision due to passage of time is recognized as interest expense.

Page 1 4 LASCO DISTRIBUTORS LIMITED NOTES TO THE FINANCIAL STATEMENTS 31 MARCH 2026 3. MATERIAL ACCOUNTING POLICIES (CONT’D) : (h) Revenue recognition Sale of goods Revenue is recognised at a point in time in the amount of the price, before tax on sales, expected to be received by the company for goods supplied as a result of their ordinary activities, as contractual performance obligations are fulfilled, and control of goods passes to the customer. Revenue is decreased by any trade discounts granted to customers. For contracts that permit return of goods, revenue is recognised to the extent that it is highly probable that a significant reversal will not occur. The right to recover returned goods is measured at the former carrying amount of inventory less any expected cost to recover. Interest income Interest income is recognised in profit or loss using the effective interest method. The “effective interest rate” is the rate that exactly discounts the estimated future cash receipts through the expected life of the financial instruments to its gross carrying amount. When calculating the effective interest rate for financial instruments, the company estimates future cash flows considering all contractual terms of the financial instrument but not e xpected c redit l osses. Commission income Commission income is recognised on an accrual basis when the service has been provided. Commission arising from negotiating or participating in a negotiation of transaction for a third party is recognised on completion of the underlying transaction. Dividend income Dividends are recognised when the right to receive payments is established. ( i ) Impairment of non - current assets Property, plant and equipment and other non - current assets are reviewed for impairment losses whenever events or changes in circumstances indicate that the carrying amount may not be recoverable. An impairment loss is recognized for the amount by which the carrying amount of the asset exceeds its recoverable amount, which is the greater of an asset’s net selling price and value in use. For the purpose of assessing impairment, assets are grouped at the lowest level for which there are separately identified cash flows. Non financial assets that suffered an impairment are reviewed for possible reversal of the impairment at each reporting date.

Page 15 LASCO DISTRIBUTORS LIMITED NOTES TO THE FINANCIAL STATEMENTS 31 MARCH 2026 3. MATERIAL ACCOUNTING POLICIES (CONT’D) : ( j ) Current and deferred income taxes Current tax charges are based on taxable profits for the year, which differ from the profit before tax reported because taxable profits exclude items that are taxable or deductible in other years, and items that are never taxable or deductible. The company’s liability for current tax is calculated at tax rates that have been enacted at the reporting date. Deferred tax is the tax that is expected to be paid or recovered on differences between the carrying amounts of assets and liabilities and the corresponding tax bases. Deferred income tax is provided in full, using the liability method, on temporary differences arising between the tax bases of assets and liabilities and their carrying amounts in the financial statements. Deferred income tax is determined using tax rates that have been enacted or substantially enacted by the reporting date and are expected to apply when the related deferred income tax asset is realized or the deferred income tax liability is settled. Deferred tax assets are recognized to the extent that it is probable that future taxable profit will be available against which the temporary differences can be utilized. Deferred tax is charged or credited to profit or loss, except where it relates to items charged or credited to other comprehensive income or equity, in which case deferred tax is also dealt with in other comprehensive income or equity. (k) Employee benefits (i) Defined contribution plan The company operates a defined contribution pension plan which is funded by employees’ contribution of 5% of salary and employer’s contribution of 5%. Once the contributions have been paid, the company has no further obligations. Contributions are charged to the statement of profit or loss, in the year to which they relate. (ii) Profit - sharing and bonus plan The company recognizes a liability and an expense for bonuses and profit - sharing based on a formula that takes into consideration the profit attributable to the company’s stockholders after certain adjustments. The company recognizes a provision where contractually obliged or where there is a past practice that has created a constructive obligation.

Page 1 6 LASCO DISTRIBUTORS LIMITED NOTES TO THE FINANCIAL STATEMENTS 31 MARCH 2026 3. MATERIAL ACCOUNTING POLICIES (CONT’D): ( k ) Employee benefits (cont’d) (iii) Annual vacation leave and other benefits Employee entitlement to annual vacation leave and other benefits are recognized when they accrue to employees. A provision is made for the estimated liability for annual leave and other benefits as a result of services rendered by employees up to the end of the reporting period. (iv) Restricted stock units plan The restricted stock units plan is an equity - settled share - based compensation plan. The fair value of the employees’ past services received in exchange for the grant shares is recognized as an expense with the corresponding increase in equity. The total expensed is determined by reference to the fair value of the shares at the vested date. (l) Financial instruments A financial instrument is any contract that gives rise to both a financial asset in one entity and a financial liability or equity of another entity. Financial assets (i) Recognition and derecognition Financial assets are initially recognized on the settlement date, which is the date that an asset is delivered to the company. This includes regular purchases of financial assets that require delivery of assets within the time frame generally established by regulation or convention in the market place. Translation differences and changes in fair value of non - monetary securities classified as fair value through other comprehensive income (FVOCI) are recognized in other comprehensive income. Dividends on FVOCI equity instruments are recognized in profit or loss as part of other operating income when the company’s right to receive payment is established. The company derecognizes a financial asset when the contractual rights to the cash flows from the asset expire, or it transfers the rights to receive the contractual cash flows in a transaction in which substantially all of the risks and rewards of ownership of the financial asset are transferred, or it neither transfers nor retains all or substantially all the risks and rewards of ownership and does not retain control over the transferred asset. Any interest in such de - recognized financial assets that are created or retained by the company is recognized as a separate asset or liability. When securities classified as FVOCI are sold or impaired, the accumulated fair value adjustments previously recognized as other comprehensive income are not recycled to the profit or loss but instead are transferred within reserves to retained earnings.

Page 1 7 LASCO DISTRIBUTORS LIMITED NOTES TO THE FINANCIAL STATEMENTS 31 MARCH 2026 3. MATERIAL ACCOUNTING POLICIES (CONT’D): ( l ) Financial instruments (cont’d) Financial assets (cont’d) (ii) Classification The company classifies all its of financial instruments at initial recognition based on their contractual terms and the business model for managing the instruments. Financial instruments are initially measured at their fair value, except in the case of financial assets recorded at Fair Value through Profit or Loss, transaction costs are added to, or subtracted from, this amount. The company classifies its financial assets as those measured at amortised cost and fair value through other comprehensive income. (iii) Measurement categories Amortised cost These assets arise principally from the provision of goods and services to customers (eg. trade receivables), but also incorporate other types of financial assets where the objective is to hold these assets in order to collect contractual cash flows and the contractual cash flows are solely payments of principal and interest (SPPI). They are initially recognised at fair value plus transaction costs that are directly attributable to their acquisition or issue and are subsequently carried at amortised cost using the effective interest rate method, less provision for impairment. The company’s financial assets measured at amortised cost comprise trade and other receivables, related company balances, short term investments and cash and cash equivalents in the statement of financial position. Cash and cash equivalents are carried in the statement of financial position at fair value. For the purpose of the statement of cash flows, cash and cash equivalents comprise cash at bank and in hand and short term deposits with original maturities of three months or less. Fair value through other comprehensive income (FVOCI) The company has made an irrevocable election to classify its investments at fair value through other comprehensive income rather than through profit or loss as the company considers this measurement to be the most representative of the business model for those assets. They are carried at fair value with changes in fair value recognized in other comprehensive income and accumulated in the fair value through other comprehensive income reserve. Upon disposal any balance within fair value through other comprehensive income reserve is reclassified directly to retained earnings and is not reclassified to profit or loss. The company’s financial assets measured at FVOCI are its investments securities which includes equity instruments in the statement of financial position.

Page 1 8 LASCO DISTRIBUTORS LIMITED NOTES TO THE FINANCIAL STATEMENTS 31 MARCH 2026 3. MATERIAL ACCOUNTING POLICIES (CONT’D): ( l ) Financial instruments (cont’d) (iv) Impairment Impairment provisions for current and non - current trade receivables are recognised based on the simplified approach within IFRS 9 using a provision matrix in the determination of the lifetime expected credit losses (ECL). During this process the probability of the non - payment of the trade receivables is assessed by taking into consideration historical rates of default for each segment of trade receivables as well as the estimated impact of forward looking information. This probability is then multiplied by the amount of the expected loss arising from default to determine the lifetime ECL for the trade receivables. For trade receivables, which are reported net, such provisions are recorded in a separate provision account with the loss being recognised within the statement of profit or loss. On confirmation that the trade receivable will not be collectable, the gross carrying value of the asset is written off against the associated provision. Financial liabilities The company’s financial liabilities are initially measured at fair value, net of transaction costs, and are subsequently measured at amorti s ed cost using the effective interest method. At the reporting date, the following items were classified as financial liabilities: trade and other payables , loan and lease liability. The company derecognises a financial liability when its contractual obligations expire or are discharged or cancelled. ( m ) Share capital Ordinary shares are classified as equity. Incremental costs directly attributed to the issue of ordinary shares are recognized as a deduction from equity. ( n ) Segment reporting A business segment is a group of assets and operations engaged in providing products or services that are subject to risks and returns that are different from those of other business segments. Operating segments are reported in a manner consistent with internal reporting to the company’s chief operating decision maker. ( o ) Dividend distribution Dividend distribution to the company’s shareholders is recognized as a liability in the company’s financial statements in the period in which the dividends are approved by the company’s shareholders. In the case of interim dividends, this is recognized when declared by the directors. Dividends for the year that are declared after the reporting date are dealt with in the subsequent events note .

Page 19 LASCO DISTRIBUTORS LIMITED NOTES TO THE FINANCIAL STATEMENTS 31 MARCH 2026 3. MATERIAL ACCOUNTING POLICIES (CONT’D): ( p ) Borrowings Borrowings are recognised initially at the proceeds received, net of transaction costs incurred. Borrowings are subsequently stated at amortised cost using the effective yield method. Any differences between proceeds, net of transaction costs and the redemption yield is recognized in profit or loss over the period of the borrowings. ( q ) Leases All leases are accounted for by recognising a right - of - use asset and a lease liability for all leases with a term greater than 12 months. Lease liabilities are measured at the present value of the contractual payments due to the lessor over the lease term, with the discount rate determined by reference to the rate inherent in the lease unless (as is typically the case) this is not readily determinable, in which case the company's incremental borrowing rate on commencement of the lease is used. Variable lease payments are only included in the measurement of the lease liability if they depend on an index or rate. In such cases, the initial measurement of the lease liability assumes the variable element will remain unchanged throughout the lease term. Other variable lease payments are expensed in the period to which they relate. On initial recognition, the carrying value of the lease liability also includes amounts expected to be payable under any residual value guarantee, the exercise price of any purchase option granted in favour of the company if it is reasonably certain to assess that option, any penalties payable for terminating the lease, if the term of the lease has been estimated on the basis of termination option being exercised. Right - of - use assets are initially measured at the amount of the lease liability, reduced for any lease incentives received, and increased for lease payments made at or before commencement of the lease, initial direct costs incurred and the amount of any provision recognised where the c ompany is contractually required to dismantle, remove or restore the leased asset. Subsequent to initial measurement, lease liabilities increase as a result of interest charged at a constant rate on the balance outstanding and are reduced for lease payments made. Right - of - use assets are amortised on a straight - line basis over the remaining term of the lease or over the remaining economic life of the asset, whichever is shorter. When the company revises its estimate of the term of any lease (because, for example, it re - assesses the probability of a lessee extension or termination option being exercised), it adjusts the carrying amount of the lease liability to reflect the payments to make over the revised term, which are discounted at the same discount rate that applied on lease commencement. The carrying value of lease liabilities is similarly revised when the variable element of future payments dependent on a rate or index is revised. In both cases an equivalent adjustment is made to the carrying value of the right - of - use asset, with the revised carrying amount being amortised over the remaining lease term.

Page 2 0 LASCO DISTRIBUTORS LIMITED NOTES TO THE FINANCIAL STATEMENTS 31 MARCH 2026 3. MATERIAL ACCOUNTING POLICIES (CONT’D): ( r ) Related party balances and transactions Parties are considered to be related if directly, or indirectly through one or more intermediaries, the party controls, is controlled by or is under common control with the entity (this includes parents, subsidiaries and fellow subsidiaries) , has significant influence over the entity or has joint control over the entity. Related party balance s and transactions are disclosed for the following: (i) Enterprises and individuals owning, directly or indirectly, a significant interest in voting power of the company and /or having significant influence over the company’s affairs and close members of the family of these individuals. (ii) Key management personnel, that is , those persons having authority and responsibility for planning directing and controlling the activities of the company, including directors, officers and close members of the families of these individuals. 4. CRITICAL ACCOUNTING JUDGEMENTS AND ESTIMATES: Judgements and estimates are continually evaluated and are based on historical experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. (a) Critical judgements in applying the company’s accounting policies In the process of applying the company’s accounting policies, management has not made any judgements that it believes would cause a significant impact on the amounts recognized in the financial statements. (b) Key sources of estimation uncertainty The company makes estimates and assumptions concerning the future. The resulting accounting estimates will, by definition, seldom equal the related actual results. The estimates and assumptions that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year are discussed below: (i) Fair value estimation A number of assets and liabilities included in the company’s financial statements require measurement at, and/or disclosure of, fair value. Fair value is the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date.

Page 2 1 LASCO DISTRIBUTORS LIMITED NOTES TO THE FINANCIAL STATEMENTS 31 MARCH 2026 4. CRITICAL ACCOUNTING JUDGEMENTS AND ESTIMATES: (CONT’D) (b) Key sources of estimation uncertainty (cont’d) (i) Fair value estimation (cont’d) The fair value measurement of the company ’s financial and non - financial assets and liabilities utilises market observable inputs and data as far as possible. Inputs used in determining fair value measurements are categorized into different levels based on how observable the inputs used in the valuation technique utilized are; the ‘fair value hierarchy: Level 1 Quoted prices in active markets for identical assets or liabilities. (unadjusted) . Level 2 Inputs other than quoted prices included within level 1 that are observable for the asset or liability, either directly (that is, as prices) or indirectly (that is, derived from prices). Level 3 Inputs for the asset or liability that are not based on observable market data (that is, unobservable inputs). The classification of an item into the above levels is based on the lowest level of the inputs used that has a significant effect on the fair value measurement of the item. The fair value of financial instruments traded in active markets, such as investments fair value either through OCI or through profit or loss, is based on quoted market prices at the reporting date. The quoted market price used for financial assets held by the company is the current bid price. These instruments are included in level 1 and comprise equity instruments traded on the JSE. The fair values of financial instruments that are not traded in an active market are deemed to be or determined as follows: The carrying values less any impairment provision of financial assets and liabilities with a maturity of less than one year are estimated to approximate their fair values due to the short term maturity of these instruments. These financial assets and liabilities are cash and cash equivalents, trade receivables, trade payables, related company balances and unquoted investments.

Page 2 2 LASCO DISTRIBUTORS LIMITED NOTES TO THE FINANCIAL STATEMENTS 31 MARCH 2026 4. CRITICAL ACCOUNTING JUDGEMENTS AND ESTIMATES (CONT’D) : (b) Key sources of estimation uncertainty (cont’d) (ii) Income taxes Estimates are required in determining the provision for income tax. There are some transactions and calculations for which the ultimate tax determination is uncertain. The company recognizes liabilities for anticipated tax audit issues based on estimates of whether additional taxes will be due. Where the final tax outcome of these matters is different from the amounts that were initially recorded, such differences will impact the income tax and deferred tax provisions in the period in which such determination is made. (iii) Allowance for impairment losses on trade receivables Allowances for doubtful accounts were established using the total credit sales for the financial year, excluding Government receivables and cash on delivery invoices. For all other credit sales, a payment pattern was determined for customers within this segment. Based on the incurred loss analyses over delinquent accounts, the credit history, risk profile of each customer and aging of receivables, customers were placed in aging buckets and a default risk percentage calculated for each bucket. A llowances are determined upon origination of the trade receivable based on a model that calculates the expected credit loss (ECL) of the trade receivables. Under this ECL model, the company segments its trade receivables in a matrix by days past due and determined for each age bracket an average rate of ECL, considering actual credit loss experience over the last 12 months and analysis of future delinquency, that is applied to the balance of the trade receivables. The historical loss rates were adjusted to reflect current and forward looking information on macroeconomic factors affecting the ability of the customers to settle the receivables. The company has also identified and assessed the change in the industry in which it sells its goods and has included its impact on historical loss rate percentage. The average ECL rate increases in each segment of days past due until the rate is 100% for the segment of 365 days or more past due. The use of assumptions make uncertainty inherent in such estimates.

Page 2 3 LASCO DISTRIBUTORS LIMITED NOTES TO THE FINANCIAL STATEMENTS 31 MARCH 2026 4. CRITICAL ACCOUNTING JUDGEMENTS AND ESTIMATES (CONT’D): (b) Key sources of estimation uncertainty (cont’d) (iv) Depreciable assets Estimates of the useful life and the residual value of property, plant and equipment are required in order to apply an adequate rate of transferring the economic benefits embodied in these assets in the relevant periods. The company applies a variety of methods in an effort to arrive at these estimates from which actual results may vary. Actual variations in estimated useful lives and residual values are reflected in the statement of income through impairment or adjusted depreciation provisions. (v) Net realizable value of inventories Estimates of net realizable value are based on the most reliable evidence available at the time the estimates are made, of the amount the inventories are expected to realize. The estimates take into consideration fluctuations of price or cost directly relating to events occurring after the end of the period to the extent that such events confirm conditions existing at the end of the period. Estimates of net realizable value also take into consideration the purpose for which the inventory is held. ( vi ) Fair value of investment property Investment property is carried at fair value based on valuations performed by independent valuers using recognized valuation methodologies. The valuation process involves significant judgment and estimation, particularly in relation to capitalization rates, projected rental income, occupancy levels, discount rates, and comparable market data. Due to the subjective nature of these assumptions and limited observable market inputs, changes in assumptions could materially affect the fair value of investment property reported in the financial statements. .

Page 2 4 LASCO DISTRIBUTORS LIMITED NOTES TO THE FINANCIAL STATEMENTS 31 MARCH 2026 5. FINANCIAL RISK MANAGEMENT: The company is exposed through its operations to the following financial risks: - Credit risk - Fair value or cash flow interest rate risk - Foreign exchange risk - Other market price, and - Liquidity risk In common with all other businesses, the company is exposed to risks that that arise from its use of financial instruments. This note describes the company’s objectives, policies and processes for managing those risks and the methods used to measure them. Further quantitative information in respect of these risks is presented throughout these financial statements. There have been no substantive changes in the company’s exposure to financial instrument risks, its objectives, policies and processes for managing those risks or the methods used to measure them from previous periods unless otherwise stated in this note. (a) Principal financial instruments The principal financial instruments used by the company, from which financial instrument risk arises, are as follows: - Trade and other receivables - Cash and bank balances - Trade and other payables - Short term investments - Due from related companies - Investments - Lease liability - Long term loan s (b) Financial instruments by category Financial assets Fair value through other Amortised comprehensive income cost 2026 2025 2026 2025 $’000 $’000 $’000 $’000 Investments 411,160 444,736 - - Short term investments - - 983,219 780,967 Cash and cash equivalents - - 2,575,876 1, 592,460 Due from related companies - - 125,980 94,647 Receivables - - . 3, 673,067 3,879,664 Total financial assets 411,160 444,736 7, 358,142 6,347,738

Page 2 5 LASCO DISTRIBUTORS LIMITED NOTES TO THE FINANCIAL STATEMENTS 31 MARCH 2026 5. FINANCIAL RISK MANAGEMENT (CONT’D) : (b) Financial instruments by category (cont’d) Financial liabilities A morti s ed cost 2026 2025 $’000 $’000 Lease liability 9,62 3 12,474 Payables 5, 521,062 4, 275,707 Long t erm l oan s 806,059 365,585 Total financial liabilities 6 ,336,744 4, 653,766 (c) Financial risk factors The Board has overall responsibility for the determination of the company’s risk management objectives and policies and, whilst retaining ultimate responsibility for them, it has delegated the authority for designing and operating processes that ensure the effective implementation of the objectives and policies to the company’s finance function. The Board receives quarterly reports from the Chief Financial Officer through which it reviews the effectiveness of the processes put in place and the appropriateness of the objectives and policies it sets. The company’s internal auditors also review the risk management policies and processes and report their findings to the Audit and Risk Management Committee. The overall objective of the Board is to set policies that seek to reduce risk as far as possible without unduly affecting the company's competitiveness and flexibility. Further details regarding these policies are set out below: (i) Market risk Market risk arises from the company's use of interest bearing, tradable and foreign currency financial instruments. It is the risk that the fair value or future cash flows of a financial instrument will fluctuate because of changes in interest rates (interest rate risk), foreign exchange rates (currency risk) or other market factors (other price risk). Currency risk Currency risk is the risk that the value of a financial instrument will fluctuate because of changes in foreign exchange rates. Currency risk arises from transactions for sales, purchases and US dollar cash and bank balances. The company manages this risk by ensuring that the net exposure in foreign assets and liabilities is kept to an acceptable level by monitoring currency positions. The company further manages this risk by maximizing foreign currency earnings and holding net foreign currency assets.

Page 2 6 LASCO DISTRIBUTORS LIMITED NOTES TO THE FINANCIAL STATEMENTS 31 MARCH 2026 5. FINANCIAL RISK MANAGEMENT (CONT’D): (c ) Financial risk factors (cont’d) (i) Market risk (cont’d) Concentration of currency risk The company is exposed to foreign currency risk in respect of US dollar as follows: 2026 2025 $’000 $’000 Investments 190,440 185,735 Cash and cash equivalents 658,642 439,826 Trade receivables 1,375,266 1, 495,068 Other receivables 153,922 200,302 Trade payables ( 1,299,348 ) ( 581,645 ) 1,078,922 1, 739,286 Foreign currency sensitivity The following table indicates the sensitivity of profit before taxation to changes in foreign exchange rates. The change in currency rate below represents management’s assessment of the possible change in foreign exchange rates. The sensitivity analysis represents outstanding foreign currency denominated cash and bank balances, accounts receivable, investments and payable balances, and adjusts their t ranslation at the year - end for 1.5 % ( 2025 – 4 %) depreciation and a 1 % ( 2025 – 1 %) appreciation of the Jamaican dollar against the US dollar. The changes below would have no impact on other components of equity. Effect on Effect on % Change in Profit before % Change in Profit before Currency Rate t axation Currency Rate t axation 2026 2026 2025 2025 $’000 $’000 Currency: USD - 1.5 16,184 - 4 69,571 U SD +1 .0 ( 10,789 ) +1 ( 17,392 )

Page 2 7 LASCO DISTRIBUTORS LIMITED NOTES TO THE FINANCIAL STATEMENTS 31 MARCH 2026 5. FINANCIAL RISK MANAGEMENT (CONT’D): (c) Financial risk factors (cont’d) (i) Market risk (cont’d) Price risk Price risk is the risk that the value of a financial instrument will fluctuate as a result of changes in market prices, whether those changes are caused by factors specific to the individual instrument or its issuer or factors affecting all instruments traded in the market. The company is exposed to market price fluctuations arising from equity securities held. A 1.5 % increase/ 2 % decrease ( 2025 – 6% increase/ 2 % decrease) in the price of equity stocks will result in a $ 3,311 ,000 increase/$ 4,414 ,000 decrease ( 2025 - $1 5,5 40 ,000 increase/ $ 5,180 ,000 decrease) in net results or stockholders equity. Cash flow and fair value interest rate risk Interest rate risk is the risk that the value of a financial instrument will fluctuate due to changes in market interest rates. Floating rate instruments expose the company to cash flow interest rate risk, whereas fixed rate instruments expose the company to fair value interest rate risk. The company is primarily exposed to cash flow interest rate risk on its short term investments. Short term investments and investment securities are the only interest bearing assets within the company. The company’s short term investments are due to mature within a year of the reporting date. Interest rate sensitivity There is no significant exposure to interest rate risk on short term deposits, as these deposits have a short term to maturity and are constantly reinvested at current market rates. There is no significant exposure to interest rate risk, as loan notes and investments securities are at a fixed interest rate. (ii) Credit risk Credit risk is the risk that one party to a financial instrument will fail to discharge an obligation and cause the other party to incur a financial loss. Credit risk arises from trade receivables, related company balances and cash and bank balances.

Page 2 8 LASCO DISTRIBUTORS LIMITED NOTES TO THE FINANCIAL STATEMENTS 31 MARCH 2026 5. FINANCIAL RISK MANAGEMENT (CONT’D): (c) Financial risk factors (cont’d) (ii) Credit risk (cont’d) Trade receivables Revenue transactions in respect of the company’s primary operations are done on a cash or credit basis. The company has policies in place to ensure that sales are made to customers with an appropriate credit history. Cash and bank balances Cash transactions are limited to high credit quality financial institutions. The company has policies that limit the amount of credit exposure to any one financial institution. Maximum exposure to credit risk The maximum exposure to credit risk is equal to the carrying amount of trade and other receivables and cash and cash equivalents in the statement of financial position. Trade receivables expected credit losses The impairment requirements of IFRS 9 are based on the Expected Credit Loss (ECL) model. The guiding principle of the ECL model is to reflect the general pattern of deterioration or improvement in the credit quality of financial instruments. For trade receivables and contract assets that do not have a financing component, it is a requirement of IFRS 9 to recognize a lifetime expected credit loss. This was achieved in the current year by the development and application of historical data relating to trade receivables and write - offs, as well as forecasting payment probabilities based on historical payment pattern. The company estimates expected credit losses (ECL) on trade receivables using a provision matrix based on historical credit loss experience. Based on the incurred loss analyses over delinquent accounts, the credit history, risk profile of each customer and aging of receivables, customers were placed in aging buckets and a default risk percentage calculated for each bucket of customers. The following table provides information about the ECLs for trade receivables as at 31 March.

Page 2 9 LASCO DISTRIBUTORS LIMITED NOTES TO THE FINANCIAL STATEMENTS 31 MARCH 2026 5. FINANCIAL RISK MANAGEMENT (CONT’D): (c) Financial risk factors (cont’d) (ii) Credit risk (cont’d) Trade receivables impairment provision 2026 Aging Gross Carrying Amount Default Rate Lifetime ECL Allowance $’000 % $’000 Government 0 - 30 days 530,252 - - 31 - 60 days 9 1,411 - - 61 – 90 days 33,574 - - Over 90 days 4 45,833 - - 1, 101,070 - Other trade receivables - 0 - 30 days 1,6 91,794 0.21 3, 574 31 - 60 days 439,374 0.30 1, 318 61 – 90 days 63,963 1.46 933 Over 90 days 1 01,965 76.47 77,970 2, 297,096 83,795 Total 3, 398,166 83,795 2025 Aging Gross Carrying Amount Default Rate Lifetime ECL Allowance $’000 % $’000 Government 0 - 30 days 609,842 - - 31 - 60 days 96,580 - - 61 – 90 days 65,962 - - Over 90 days 469,239 - - 1,241,623 - Other trade receivables - 0 - 30 days 1,626,952 0.21 3,417 31 - 60 days 501,769 0.30 1,505 61 – 90 days 88,897 1.46 1,298 Over 90 days 115,430 56.26 64,938 2,333,048 71,158 Total 3,574,671 71,158

Page 30 LASCO DISTRIBUTORS LIMITED NOTES TO THE FINANCIAL STATEMENTS 31 MARCH 2026 5. FINANCIAL RISK MANAGEMENT (CONT’D): (c) Financial risk factors (cont’d) (ii) Credit risk (cont’d) The aging of trade receivables is: 2026 2025 $’000 $’000 0 - 30 days 2,222,046 2,236,794 31 - 60 days 530,785 598,349 61 - 90 days 97,537 154,859 Over 90 days 547,798 584,669 3,398,166 3,574,671 Movements in the provision for expected credit losses are as follows: 2026 2025 $’000 $’000 At 1 April 71,158 63,206 Provision for expected credit losses 13,276 9,648 Write off ( 639 ) ( 1,696 ) At 31 March 83,795 71,158 The creation and release of provision for expected credit losses have been included in profit or loss. Amounts charged to the provision account are generally written off when there is no expectation of recovering additional cash. (iii) Liquidity risk Liquidity risk is the risk that the company will be unable to meet its payment obligations associated with its financial liabilities when they fall due. Prudent liquidity risk management implies maintaining sufficient cash and cash equivalents, and the availability of funding through an adequate amount of committed credit facilities.

Page 3 1 LASCO DISTRIBUTORS LIMITED NOTES TO THE FINANCIAL STATEMENTS 31 MARCH 2026 5. FINANCIAL RISK MANAGEMENT (CONT’D): (c) Financial risk factors (cont’d) (iii) Liquidity risk (cont’d) Liquidity risk management process The company’s liquidity risk management process, as carried out within the company and monitored by the Finance Department, includes: (i) Monitoring future cash flows and liquidity on a daily basis. (ii) Maintaining a portfolio of short term investment balances that can easily be liquidated as protection against any unforeseen interruption to cash flow. (iii) Maintaining committed lines of credit. (iv) Optimising cash returns on investments. Cash flows of financial liabilities The maturity profile of the company’s financial liabilities, based on contractual undiscounted payments, is as follows: Within 1 1 to 2 3 to 5 Over 5 Yea r Years Years Years Total $’000 $’000 $’000 $’000 $’000 31 March 2026 Payables 5, 521,062 - - - 5, 521,062 Lease liability 3,600 3,600 3,600 - 10,800 Long term loan s 94,734 237,448 338,450 550,553 1,221,185 Total financial liabilities (contractual maturity dates) 5, 619,396 241,048 342,050 550,553 6, 753,047 Within 1 1 to 2 3 to 5 Over 5 Year Years Years Years Total $’000 $’000 $’000 $’000 $’000 31 March 2025 Payables 4,275,707 - - - 4,275,707 Lease liability 3,600 3,600 7,200 - 14,400 Long term loan 60,756 113,706 150,796 209,730 534,988 Total financial liabilities (contractual maturity dates) 4,340,063 117,306 157,996 209,730 4,825,095

Page 3 2 LASCO DISTRIBUTORS LIMITED NOTES TO THE FINANCIAL STATEMENTS 31 MARCH 2026 5. FINANCIAL RISK MANAGEMENT (CONT’D): (d) Capital management The company’s objectives when managing capital are to safeguard the company’s ability to continue as a going concern in order to provide returns for stockholders and benefits for other stakeholders. The Board of Directors monitors the return on capital, which the company defines as net operating income, excluding non - recurring items, divided by total stockholders’ equity. The Board of Directors also monitors the level of dividends to stockholders. There are no particular strategies to determine the optimal capital structure. There are also no external capital maintenance requirements to which the company is subject. (e) Fair values of financial instruments The following table presents the company’s investments that are measured at fair value. There are no liabilities that are measured at fair value at the year end and the company has no instruments classified in Level 3 during the year. There were no transfers between levels during the year. 2026 Level 1 Level 2 Total $’000 $’000 $’000 Investment securities fair value through other comprehensive income 2 20,720 1 90,440 4 11,160 Equity securities 2025 Level 1 Level 2 Total $’000 $’000 $’000 Investment securities fair value through other comprehensive income 259,001 1 85,735 4 44,736 Equity securities The fair value of financial instruments that are traded in an active market for which there are no quoted market prices, is determined by using valuation techniques. When using valuation techniques, the company uses a variety of methods and makes assumptions that are based on market conditions existing at year end. The following methods and assumptions have been used. (i) Investment securities classified as fair value through profit or loss and fair value through other comprehensive income are measured at fair value by reference to quoted market prices when available. If quoted prices are not available, then fair values are estimated on the basis of pricing models or other recognized valuation techniques.

Page 3 3 LASCO DISTRIBUTORS LIMITED NOTES TO THE FINANCIAL STATEMENTS 31 MARCH 2026 5. FINANCIAL RISK MANAGEMENT (CONT’D): (e) Fair values of financial instruments (cont’d) (ii) The fair value of liquid assets and other assets maturing within three months is assumed to approximate their carrying amount. The assumption is applied to liquid assets and the short term elements of all other financial instruments. (iii) The fair value of variable rate financial instruments is assumed to approximate their carrying value. 6. SEGMENT REPORTING: The company has two reportable segments which are based on the different types of products that it offers. These products are described in its principal activities (Note 1). The identification of business segments, is based on the management and internal reporting structure. Segment results, assets and liabilities include items directly attributable to a segment, as well as those that can be allocated on a reasonable basis. Information regarding results of each reportable segment is included below. Performance is measured on segment profit before taxation as included in the management reports. Segment profit before taxation is used to measure performance as management believes that such information is most relevant in evaluating the results of certain segments relative to other entities that operate within these industries. 2026 Consumer Pharmaceutical Division Division Total $’000 $’000 $’000 Revenue – Total revenue 2 6,556,279 5, 118,081 3 1,674,360 Segment result 1,062,661 265,665 1, 328,326 Segment assets(¹) 6,201,172 3, 449,79 0 9, 650,96 2 Unallocated assets 8, 607,397 Total assets 1 8, 258,359 Segment liabilities(²) 4,533,393 933,49 5 5,466,8 88 Unallocated liabilities . 1, 692,15 5 Total liabilities 7,159,04 3 Other items – Finance income 6 6,527 - . 6 6,527 Finance costs 45,916 - 45,916

Page 3 4 LASCO DISTRIBUTORS LIMITED NOTES TO THE FINANCIAL STATEMENTS 31 MARCH 2026 6. SEGMENT REPORTING (CONT’D): 2025 Consumer Pharmaceutical Division Division Total $’000 $’000 $’000 Revenue – Total revenue 25,039,355 5,217,072 30,256,427 Segment result 1, 258,376 419,459 1, 677,835 Segment assets(¹) 5,988,807 3,168,320 9,157,127 Unallocated assets 6,706,419 Total assets 15,863,546 Segment liabilities(²) 3,774,769 451,624 4,226,393 Unallocated liabilities . 1,162,679 Total liabilities 5,389,072 Other items – Finance income 68,335 - . 68,335 Finance costs 16,755 - 16,755 (¹) Reportable segments’ assets are reconciled to the company’s total assets as follows: 2026 2025 $’000 $’000 Segment assets from reportable segments 9,650,96 2 9, 157,127 Unallocated assets - Property, plant and equipment 2, 589,563 2,231,340 Intangible assets 84,537 119,208 Right - of - use assets 4,549 10,615 Investment Property 555,000 478,268 Investments 411,160 444,736 Taxation recoverable 37,487 3 3 ,999 Related companies 125,980 94,647 Other receivables 1, 227,876 908,029 Directors’ current account 12,150 12,150 Short term investments 983,219 780,967 Cash and bank balances 2, 575,876 1, 592,460 18, 258,359 15, 863,546

Page 3 5 LASCO DISTRIBUTORS LIMITED NOTES TO THE FINANCIAL STATEMENTS 31 MARCH 2026 6. SEGMENT REPORTING (CONT’D): (²) Reportable segments’ liabilities are reconciled to the company’s total liabilities as follows: 2026 2025 $’000 $’000 Segment liabilities from reportable segments 5,466,88 8 4, 226,393 Unallocated liabilities - Payables 580,70 7 487,012 Deferred tax liability 160,922 108,164 Taxation 134,845 189,444 Long term loan 806,059 365,585 Lease liability 9,622 12,474 7,159,04 3 5, 389,072 7. REVENUE: Revenue represents the price of goods sold and transferred to customers at a point in time, after discounts and allowances. The company ’s revenue is disaggregated as follows: 2026 2025 $’000 $’000 Consumer division 26,556,279 25 , 039 , 355 Pharmaceutical division 5,118,081 5,217,072 31,674,360 30,256,427 8. OTHER OPERATING INCOME: 2026 2025 $’000 $’000 Dividend income 7,019 6,166 Commission – Roche 163,435 151,827 Interest income 66,527 68,335 Fair value gain on investment property 76,732 - Gain on disposal of property, plant and equipment - 300 Miscellaneous income 18,48 1 8,96 0 Rental i ncome 12,093 10,077 Insurance i ncome (Keyman i nsurance) - . 76,632 344,287 322,29 7 The company has a non - exclusive distribution agreement with Productos Roche Interamericana S.A. – Diagnostics Division (Roche) to distribute its products in Jamaica. Commission is earned on sales and collection of receivables.

Page 3 6 LASCO DISTRIBUTORS LIMITED NOTES TO THE FINANCIAL STATEMENTS 31 MARCH 2026 9 . EXPENSES BY NATURE: Total administrative, selling and other expenses: 2026 2025 $’000 $’000 Staff costs (note 10 ) 2,241,030 2,167, 497 Directors’ fees 21,453 23,186 Property expenses 109,812 105,849 Transportation and communication 14,017 22,491 Advertising and promotion 475,494 372,616 Management and consultancy fees 82,554 71,049 Legal and professional fees 6,385 4,957 Insurance 165,857 157,794 Stationery 23,389 22,497 Utilities and postage 123,507 116,058 Security 235,487 195,743 Donations and subscriptions 240,669 196,664 Bank charges 151,438 135,442 Auditors’ remuneration 12,375 11,250 Foreign exchange loss 82,178 27,028 GCT irrecoverable 46,870 44,317 Computer repairs expense 2,369 1,587 Depreciation and amortisation 16 1,75 9 168,0 59 Right - of - use - asset amortisation 6,066 4,5 50 Other expenses 6,05 0 5,1 1 1 4, 208,759 3,853,7 45 Impairment losses: Credit sales 13,276 9,64 8 10. S TAFF COSTS: 2026 2025 $’000 $’000 Salaries and wages 1,490,605 1,364,776 Directors’ remuneration 65,366 65,668 Statutory contributions 161,809 153,181 Pension costs 45,615 41,581 Share options - employees ( 1,240) 47,150 Commission and i ncentive 222,311 247,907 Accommodation 9,018 11,622 Other 247,546 235, 612 2,241,030 2,167, 497 The average number of persons employed by the company during the year was 493 , ( 2025 : 476 ) .

Page 3 7 LASCO DISTRIBUTORS LIMITED NOTES TO THE FINANCIAL STATEMENTS 31 MARCH 2026 11. FINANCE COST S : 2026 2025 $’000 $’000 Interest expense – Loan interest 44,838 15,339 Lease interest 1,078 1,416 45,916 16,755 12. TAXATION EXPENSE : (a) Taxation is computed on the profit for the year, adjusted for tax purposes, and comprises income tax at 25%. 2026 2025 $’000 $’000 Current taxation 219,20 7 282,238 Prior year ( over ) / under provision ( 7,097) 4,696 Deferred taxation (note 2 9 ) 52,758 52,033 264,86 8 338,967 (b) The tax on the profit before taxation differs from the theoretical amount that would arise using the applicable tax rate as follows: 2026 2025 $’000 $’000 Profit before taxation 1, 328,326 1,677,835 Taxation calculated @ 25% 332,082 419,459 Adjusted for the effects of: Expenses not deducted for tax purposes 140,202 66,775 Un realized foreign exchange loss ( 60,853) ( 230) Income not subject to tax ( 83,529) ( 19,233 ) Capital allowance s ( 79,747) ( 63,624 ) Deferred tax ation 52,758 52,033 Other ( 5, 4 61 ) ( 3,889 ) Prior year under provision ( 7,097) 4,696 Employ ment tax credit ( 23,487 ) ( 117,020 ) 264,86 8 338,967

Page 3 8 LASCO DISTRIBUTORS LIMITED NOTES TO THE FINANCIAL STATEMENTS 31 MARCH 2026 13. EARNINGS PER STOCK UNIT: Basic earnings per stock unit is calculated by dividing the net profit attributable to stockholders by the weighted average number of ordinary stock units in issue at year end. 2026 2025 Net profit attributable to stockholders ($‘000) 1, 063,458 1, 338,868 Weighted Average N umber of ordinary stocks units (‘000) 3, 538,576 3, 525 ,703 Basic earnings per stock unit (¢ per share) 3 0. 05 37.97 The diluted earnings per stock unit is calculated by adjusting the weighted average number of ordinary stock units in issue at the year end to assume conversion of all dilutive potential ordinary stock units. 2026 2025 Net profit attributable to stockholders ($‘000) 1, 063,458 - Weighted Average Number of ordinary stocks units (‘000) 3,5 38,576 - Adjusted for share options (‘000) 3,427 - . 3, 542,003 - . Diluted earnings per stock unit (¢ per share) 30. 02 - .

Page 3 9 LASCO DISTRIBUTORS LIMITED NOTES TO THE FINANCIAL STATEMENTS 31 MARCH 2026 14. PROPERTY, PLANT AND EQUIPMENT: Freehold Furniture, Assets Land & Fixtures & Under Motor Buildings Computer Equipment Construction Vehicles Total $’000 $’000 $’000 $’000 $’000 $’000 Cost/ deemed cost - 1 April 2024 1,780,863 197,673 854,395 44,278 106,021 2,983,230 A dditions 7,083 5,031 92,337 401,855 - 506,306 Transfer 23,725 - 1,617 ( 25,342) - - Disposal - - . - . - . ( 4,374 ) ( 4,374 ) 31 March 2025 1 ,811,671 202,704 948,349 420,791 101,647 3,485,162 A dditions - 186,042 41,118 258,151 - 485,311 31 March 2026 1,811 ,671 388,746 9 89,467 678,942 101,64 7 3, 970,473 Depreciation – 1 April 2024 250,113 176,616 622,546 - 95,597 1,144,872 Charge for the year 39,172 6,917 62,834 - 4,401 113,324 Disposal - - . - . - . ( 4,374 ) ( 4,374 ) 31 March 2025 289,285 183,533 685,380 - 95,624 1,253,822 Charge for the year 38,046 27,080 57,999 - . 3,963 127,088 31 March 202 6 327,331 210,613 743,379 - . 9 9,587 1, 380,910 Net b ook v alue - 31 March 202 6 1, 484,340 178,133 2 46,088 678,942 2,060 2, 589,563 31 March 2025 1,522,386 19,171 262,969 420,791 6,023 2,231,340 The net book value of property, plant and equipment includes assets under construction amounting to $ 678,942,000 ( 2025 - $ 420,791,000 ) relating to warehouse expansion at White M arl location .

Page 40 LASCO DISTRIBUTORS LIMITED NOTES TO THE FINANCIAL STATEMENTS 31 MARCH 2026 15. INTANGIBLE ASSET S : $’000 Cost: 1 April 202 4 335,633 Transfer from property, plant and equipment 735 31 March 2025 and 31 March 2026 336,368 Amortisation - 1 April 2024 162,425 Charge for the year 54,735 31 March 2025 217,160 Charge for the year 34 ,671 31 March 2026 251,831 Net b ook v alue - 31 March 2026 84,537 31 March 2025 119,208 16. RIGHT - OF - USE ASSET: (a) Right - of - use asset Building 2026 2025 $’000 $’000 A t 1 April 10,615 15,165 Amortisation ( 6,066 ) ( 4,5 50 ) At 31 March 4,5 49 10,61 5 (b) Lease liability At 1 April 12,474 1 5 ,165 Interest expense 74 9 909 Lease payments ( 3,600 ) ( 3,600 ) 31 March 9,62 3 12,474 Less: current portion ( 2,852 ) ( 2,851 ) 6,771 9, 623 The company leases property located at 29 R ed Hills Road , Kingston 10. The five year lease contract ended on 31 March 202 4 and was renewed as at 1 April 202 4 .

Page 4 1 LASCO DISTRIBUTORS LIMITED NOTES TO THE FINANCIAL STATEMENTS 31 MARCH 2026 17 . INVESTMENT PROPERTY: 2026 2025 $’000 $’000 Opening Balance 478,268 - Acquisition of i nvestment property - 478,268 Revaluation gain 76,732 - . 555,000 478,268 On 1 May 202 4 , the company acquired property located at 38 ½ and 4 0 Red Hills Road, Kingston Jamaica. The property is held to earn rental income and for capital appreciation. The property was valued on 24 March 202 6 by independent valuators, DC Tavares & Finson Realty. R ental income recognized in the statement of comprehensive income for the year amounted to $1 2,093 ,000 (2025 - $10,077,000) . The fair value of the company’s investment property is categorized as Level 3 in the fair value hierarchy. The technique used to determined the fair value of investment property is as follows: Valuation technique Significant unobservable inputs Inter - relationship between key unobservable inputs and fair value measurement Cost Approach , Income Approach and Comparison Approach . Th ese model s take into account the nature and use of the property : - The assumed estimate of the current replacement cost less deductions for physical deterioration and obsolescence . - The estimated or actual cash benefits generated by an income property to arrive at the current present value. - The fair value estimate for subject property by comparing similar properties recently sold, with adjustments made for differences. - Estimates of physical, functional and external depreciation and estimated cost to replace or reproduce the asset. - The projected rental income and expected future growth rate, discount rate and forecast of operating expenses. - The adjustment factors for comparable sales to account for property condition, location, size and time adjustments reflecting changes in market condition. range of potential uses. The estimated fair value would increase/(decrease) if: - Higher depreciation or obsolescence assumptions decrease fair value. - Higher discount or cap italization rates decrease fair value; higher income growth increases fair value . - Higher positive adjustments increase fair value; negative adjustments reduce it.

Page 4 2 LASCO DISTRIBUTORS LIMITED NOTES TO THE FINANCIAL STATEMENTS 31 MARCH 2026 1 8 . INVESTMENTS : At fair value through other comprehensive income : 2026 2025 2026 2025 Units Units $’000 $’000 Sigma USD Principal Protector 1,007,521 1,007,521 190,440 185,735 Equities (JMD) 25,919,271 25,919,271 220,7 20 259,001 411,160 444,736 Investments at fair value through other comprehensive income represent investments in quoted equities and Sigma Funds . 1 9 . INVENTORIES: 2026 2025 $’000 $’000 Goods for resale – Roche 467,837 375,037 Regular trade 4,683, 300 4, 140,998 Goods - in - transit 884,605 803,662 6,035,742 5, 319,697 20 . RECEIVABLES: 2026 2025 $’000 $’000 Trade receivables - Roche (see below) 870,927 826,318 Regular trade 2,527,239 2,748,35 3 3,398,166 3,574,671 Less: P rovision for expected credit losses ( 83,795 ) ( 71,158 ) 3,314,371 3,503,51 3 Other receivables 1,528,725 1, 241,946 4,843,096 4, 745,459 Included in trade receivables for Roche are items on which Roche bears the credit risk solely. The corresponding liability is included in trade payables (note 30 ).

Page 4 3 LASCO DISTRIBUTORS LIMITED NOTES TO THE FINANCIAL STATEMENTS 31 MARCH 2026 2 1 . RELATED PARTY TRANSACTIONS AND BALANCES : 2026 2025 $’000 $’000 (a) Transactions between the company and its related parties - Purchases of goods and services: Lasco Manufacturing Limited - Goods 12,677,871 12,249,419 Lasco Financial Services Limited – Rental i ncome 12,093 10,077 Foreign currency 6,692,448 6,412,839 Lascelles Chin Estate - Investment property - 478,268 (b) Key management compensation (included in staff costs – Note 10): Key management includes directors and senior managers – Salaries and other short - term employee benefits 297,851 333,210 Directors’ emoluments – Fees 21,453 23,186 Management remuneration (included above) 65,366 65,66 8 Share based payments ( 1,240 ) 47,150 (c) Year end balances arising from transactions with related parties With related companies: Due from – Lasco Manufacturing Limited 59,955 50,223 Lasco Financial Services Limited 65,921 44,204 Lasco Chin Foundation 104 220 125,980 94,647

Page 4 4 LASCO DISTRIBUTORS LIMITED NOTES TO THE FINANCIAL STATEMENTS 31 MARCH 2026 2 1 . RELATED PARTY TRANSACTIONS AND BALANCES (CONT’D) : 2026 2025 $’000 $’000 (c) Year end balances arising from transactions with related parties (cont’d) Due to – Lasco Manufacturing Limited (included in trade payables) 2,664,352 2,052,910 These balances are due and payable within forty - five (45) days which is the company’s normal credit term. Due from – Directors 12,150 12,150 2 2 . SHORT TERM INVESTMENTS: These represent interest bearing amounts which have been invested with various financial institutions for a period greater than three (3) months but up to one (1) year. The weighted average interest rate for the investments is 5.9 % ( 2025 – 6.6 %). 2 3 . CASH AND CASH EQUIVALENTS: 2026 2025 $’000 $’000 Cash and bank balances – Short terms deposits 26,741 40,980 Jamaican currency current account 1,351,881 1, 078,705 Jamaican currency savings account 535,992 29,915 Foreign currency accounts 658,642 439,826 Cash in hand 2,62 0 3,034 2, 575,876 1, 592,460 (a) The weighted average interest rate on short term deposits is 2.87 % ( 2025 – 2.88 %)

Page 4 5 LASCO DISTRIBUTORS LIMITED NOTES TO THE FINANCIAL STATEMENTS 31 MARCH 2026 2 3 . CASH AND CASH EQUIVALENTS (CONT’D): (b) Reconciliation of movements of investments to cash flows from investing activities. Amounts represent investments at fair value through other comprehensive income and amor t ised cost. 2026 2025 $’000 $’000 1 April 444,736 436,121 Non cash – Fair value movements ( 34,032) 3,512 F oreign exchange gain 456 5,103 411,160 444,73 6 (c) A mounts represent short term investments: 2026 2025 $’000 $’000 1 April 780,967 546,369 Investment s acquired 938,067 200,000 Investment matured (780,967) - Interest 60,197 46,131 Withholding tax ( 15,045 ) ( 11,533 ) 202,252 234,598 983,219 780,967 2 4 . SHARE CAPITAL: 2026 2025 $’000 $’000 Authorised - 3,630,000,000 Ordinary shares of no par value Stated capital – Issued and fully paid - 3,530,703,000 (2025: 3,525,703,000 ) ordinary shares of no par value 531,686 513,186 During the year, 5,000,000 units of shares at a cost of $18,500,000 were granted and exercised under the Restricted Stock Units Plan for employees and Directors of Lasco Distributors Limited.

Page 4 6 LASCO DISTRIBUTORS LIMITED NOTES TO THE FINANCIAL STATEMENTS 31 MARCH 2026 25. REVALUATION RESERVE: This represents unrealized surplus on revaluation of property, plant and equipment. 2 6 . FAIR VALUE RESERVE: This represents the net unrealised surplus on revaluation of equity investments at fair value through other comprehensive income. 27. OTHER RESERVE: Restricted Stock Units: On 2 9 December 202 2 , the Board of Directors approved the Restricted Stock Units Plan (RSU) to replace the Employee Stock Option Plan (ESOP) that expired on 30 May 2021. At the expiration of the Employee S hare Option Plan (ESOP) the total number of unissued shares amounted to 24,050,000 units. These remaining units were transferred to the Restricted Stock Units Plan. Under the Restricted Stock Option Plan (RSU), t he company granted 15,000,000 units to eligible employees in March 202 3 . During the year, an additional 5,000,000 units were granted. Movement o n s tock option 2026 2025 No. of shares No. of shares ’000 ’000 Opening unit 9,050 9,050 Units vested during the year ( 5 ,000 ) - 31 March 4,050 9,050 28. LONG TERM LOAN S : 2026 2025 $’000 $’000 First Caribbean International Bank Opening Balance 365,585 - Loan a cquired 472,264 381,480 Less: Principal p ayments ( 31,790 ) ( 15,895 ) 806,059 365,585 Less: Current p ortion ( 31,790 ) ( 31,790 ) 774,269 333,795 The loan balance comprises two facilities obtained from CIBC First Caribbean International Bank . The first loan was obtained on 20 September 2024 and bears interest at 8.25% per annum. The facility is repayable on 20 September 2034 and is secured by a mortgage over the real estate property located at 38½ and 40 Red Hills Road, Kingston, Jamaica , together with fire and perils insurance over the mortgaged property and related assets .

Page 4 7 LASCO DISTRIBUTORS LIMITED NOTES TO THE FINANCIAL STATEMENTS 31 MARCH 2026 28. LONG TERM LOAN S ( CONT’D ) : The second loan was obtained on 7 April 2025 and bears interest at 7.75% per annum. The facility is repayable on 13 August 2037 and was established to finance the Company’s warehouse expansion project . Under the terms of the agreement, financing is provided on a drawdown basis whereby the Company initially incurs and settles qualifying project expenditures using its own resources. The lender subsequently reimburses approved expenditures upon submission of the required supporting documentation. The facility has a maximum limit of $560,000,000, of which $472,264,000 had been drawn down as at the reporting date. Amounts reimbursed by the lender are recognized as financial liabilities upon receipt of funds. 29. DEFERRED TAXES : Deferred taxes are calculated in full on temporary differences under the liability method using a principal tax rate of 25%. Deferred tax assets and liabilities are offset when there is a legally enforceable right to set off current tax assets against current tax liabilities. The amounts determined after appropriate offsetting are as follows: 2026 2025 $’000 $’000 Deferred tax liability ( 160,922 ) ( 108,164 ) The movement in deferred tax is as follows: 2026 2025 $’000 $’000 Balance at beginning of year (108,164) ( 56,131) Charge for the year (note 12) ( 52,758 ) ( 52,033 ) Balance at end of year ( 160,922 ) ( 108,164 ) Deferred tax is due to the following temporary differences: 2026 2025 $’000 $’000 Accelerated capital allowances (205,798) ( 150,624 ) Bad debt provision 20,949 17,790 Interest receivable ( 6,128) ( 6,825) Accrued vacation leave 41,136 32,724 Foreign exchange gain ( 15,213 ) ( 1,694) O ther 4,132 465 ( 160,922 ) ( 108,164 )

Page 4 8 LASCO DISTRIBUTORS LIMITED NOTES TO THE FINANCIAL STATEMENTS 31 MARCH 2026 29. DEFERRED TAXES ( CONT’D ) : Deferred tax charged to profit or loss comprises the following temporary differences: 202 6 2025 $’000 $’000 Accelerated capital allowances (55,174) (53,576) Bad debt provision 3,159 3,728 Interest receivable 697 ( 3,133) Accrued vacation leave 8,412 4,082 Foreign exchange loss (13,519) ( 3,547) Other 3,667 413 ( 52,758 ) ( 52,033 ) 30. PAYABLES: 2026 2025 $’000 $’000 Trade payables – Roche (see note 20 ) 848,821 604,473 Regular trade 4,618,068 3, 621,920 5,466,889 4, 226,393 Other payables and accruals 580 ,705 487,012 6,047,594 4, 713,405 31 . DIVIDENDS: 2026 2025 $’000 $’000 In respect of 31 March 202 5 (11¢ per share) - 387,827 In respect of 31 March 202 6 ( 12 ¢ per share) 423,084 - . 423,084 387,827 A n interim dividend of 1 2 ¢ per share was approved by the Board of Directors on 1 7 June 2025 for payment on 2 4 July 2025 , based on shareholders on record at 1 July 2025 . On 1 7 June 202 4 , an interim dividend of 1 1 ¢ per share was approved by the Board of Directors for payment on 2 4 Ju ly 202 4 , based on shareholders on record at 1 Ju ly 202 4 .

Page 4 9 LASCO DISTRIBUTORS LIMITED NOTES TO THE FINANCIAL STATEMENTS 31 MARCH 2026 32. PENSION PLAN: The company operates a defined contribution pension plan which is administered by Sagicor Life Jamaica Limited and is open to all permanent employees. The plan is funded by the company’s and employees’ contributions. The company’s contributions to the scheme are expensed and amounted to $4 5,615 ,000 for the year ( 2025 – $ 41,581 ,000). 33. CONTINGENCIES: The company had guarantees with a financial institution totalling $12 m illion which occurred during the normal course of business.