Mailpac group limited – audited financial statements for year ended december 31, 2025

MAILPAC GROUP LIMITED FI N A N CIAL STATEME N TS YEAR E N DED DECEMBER 31, 2025

MAILPAC GROUP LIMITED FI N A N CIAL STATEME N TS YEAR E N DED DECEMBER 31, 2025 CO N TE N TS Page(s) Independent Auditor's Report 1 - 5 Statement of Financial Position 6 Statement of Comprehensive Income 7 Statement of Changes in Equity 8 Statement of Cash Flows 9 Notes to the Financial Statements 10 - 38

Page 1 INDEPENDENT AUDITOR'S REPORT To the members of MAILPAC GROUP LIMITED Report on the Audit of the Financial Statements Opinion We have audited the accompanying financial statements of Mailpac Group Limited (the “Company”), which is comprised of the statement of financial position as at December 31, 2025, the statement of comprehensive income, the statement of changes in equity, an d the statement of cash flows for the year then ended and a summary of material accounting policies and other explanatory notes. In our opinion, the accompanying financial statements give a true and fair view of the financial position of the Company as at December 31, 2025, and of its financial performance and cash flows for the year then ended in accordance with IFRS Accounting Standards and the requirements of the Jamaican Companies Act (the "Act"). Basis for Opinion We conducted our audit in accordance with International Standards on Auditing (ISAs). Our responsibilities under those standards are further described in the Auditor’s Responsibilities for the Audit of the Financial Statements section of our report . We are independent of the Company in accordance with the International Ethics Standards Board for Accountants’ International Code of Ethics for Professional Accountants including International Independence Standards (IESBA Code). We have fulfilled our other ethi cal responsibilities in accordance with the IESBA Code. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion. Emphasis of Matter - Modification of Contingent Consideration Liability We draw attention to Note 30 to the financial statements, which describes the modification of the contingent consideration liability arising from the acquisition of the assets and operations My Cart Quick Limited on April 1, 2024. As described in that note, the original contin gent consideration liability of $1,266,027,507 was modified subsequent to the reporting date, resulting in a revised settlement consideration of $364,000,000 comprising cash of $243,000,000 and the issuance of 50,000,000 ordinary shares at fair value of $1 21,000,000. The board of directors have determined that the conditions giving rise to the modification existed at December 31, 2025 and h as accordingly classified this as an adjusting event under IAS 10 “ Events After the Reporting Period ” . The directors have determined that the conditions giving rise to the modification existed at December 31, 2025 and have accordingly classified this as an a djusting event under IAS 10 “ Events After the Reporting Period ” . The modification has resulted in the reduction of the contingent consideration liability in the amount of $902,027,507 and accordingly has been recognised in the statement of comprehensive in come . Our opinion is not modified in respect of this matter. Leary Mullings FCA, CPA, MBA Senior Partner Rohan Crichton FCA, CPA MActg Senior Partner CrichtonMullings & Associates Florida: (954) 862 - 2250 Atlanta: (770) 320 - 7786 Jamaica: (876) 946 - 1274 [email protected] http://crichtonmullings.com/

Page 2 Independent Auditor's Report (cont' d ) To the members of MAILPAC GROUP LIMITED Key Audit Matters Key audit matters are those matters that, in our professional judgement, were of most significance in our audit of the financial statements of the current period. These matters were addressed in the context of our audit of the financial statements as a whole, and in forming our opinion there on, and we do not provide a separate opinion on these matters. Key audit matter How the matter was addressed in our audit Intangible assets impairment assessment Our audit procedures to address the key audit matter relating to the impairment of intangible assets assessment included the following: The Company has intangible assets of $1.36 billion arising from the acquisition of the net assets of Mailpac Local Limited, Mailpac Services Limited and My Cart Quick Limited, which represents 55% of the total assets as at the year end. • We have reviewed management's ass umptions , including the identification of the underlying cash generating assets. The annual impairment assessment requires management's judgement and estimation in determining estimated future earnings from the operation, taking into consideration inflation rate, growth rate and other underlying assumptions. • We have assessed and reviewed the operation's historical performance and compared actual results to the approved budget. The analysis of the external and internal environments was taken into account in the assessment of the overall performance. An impairment assessment was carried out on the goodwill of $689.5 million recognised from the My Cart Quick Limited acquisition, which represents 51 % of the intangible assets as at the year end. Based on the procedures performed, management’s assessment of intangible assets impairment appears reasonable.

Page 3 Independent Auditor's Report (cont'd) To the members of MAILPAC GROUP LIMITED Key Audit Matters (cont'd) Key audit matter How the matter was addressed in our audit Accounting for Business Combination - Intangible Assets Our audit procedures to address the key audit matter relating to the accounting for business combination - intangible assets included the following: During the year, the Company finalised the purchase price allocation relating to the acquisition of My Cart Quick Limited acquired on April 1, 2024. The finalisation of the acquisition accounting resulted in the recognition of material identifiable assets, including trade name and customer relationships and an adjustment to goodwill and contingent consideration. • We have assessed the valuation methodologies used for the trade name and customer relationships. We identified the accounting for this business combination based the complexity in estimating the contingent consideration, the significant judgement involved in determining the provisional fair values of assets acquired and the materiality of the transact ion to the financial statements. • We tested key assumptions utilised in the valuation models, including discount rates, projected revenues, customer attrition rates and useful lives. • We have evaluated management's assessment of the acquisition accounting under IFRS 3, including the retrospective adjustments made to the comparative financial statements and the accuracy of the related disclosures in the financial statements. Based on the procedures performed, management's provisional accounting for the business combination appears reasonable. Other Information Management is responsible for the other information. The other information comprises information included in the annual report but does not include the financial statements and our auditor’s report thereon. The annual report is expected to be made available to us after the date of this auditor’s report. Our opinion on the financial statements does not cover the other inform ation and we will not express any form of assurance conclusion thereon. In connection with our audit of the financial statements, our responsibility is to read the other information identified above when it becomes available and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit, or otherwise appears to be materially misstated. When we read the annual report, if we conclude that there is a material misstatement therein, we are required to communicate the matter to the Board of Directors.

Page 5 Independent Auditor's Report (cont'd) To the members of MAILPAC GROUP LIMITED Appendix to the Independent Auditor's Report As part of an audit in accordance with ISAs, we exercise professional judgement and maintain professional skepticism throughout the audit. We also: • Identify and assess the risks of material misstatement of the financial statements, whether due to fraud or error, design and perform audit procedures responsive to those risks, and obtain audit evidence that is sufficient and appropriate to provide a basis for our opinion. The risk of not detecting a material misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the o verride of internal control. • Obtain an understanding of internal control relevant to the audit in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the Company’s internal control. • Evaluate the appropriateness of accounting policies used and the reasonableness of accounting estimates and related disclosures made by management. • Conclude on the appropriateness of management’s use of the going concern basis of accounting and, based on the audit evidence obtained, whether a material uncertainty exists related to events or conditions that may cast significant doubt on the Company’s ability to contin ue as a going concern. If we conclude that a material uncertainty exists, we are required to draw attention in our auditor’s report to the related disclosures in the financial statements or, if such disclosures are inadequate, to modify our opinion. Our co nclusions are based on the audit evidence obtained up to the date of our auditor’s report. However, future events or conditions may cause the Company to cease to continue as a going concern. • Evaluate the overall presentation, structure and content of the financial statements, including the disclosures, and whether the financial statements represent the underlying transactions and events in a manner that achieves fair presentation. We communicate with the Board of Directors regarding, among other matters, the planned scope and timing of the audit and significant audit findings, including any significant deficiencies in internal control that we identify during our audit. We also provide the Board of Directors with a statement that we have complied with relevant ethical requirements regarding independence, and to communicate to them all relationships and other matters that may reasonably be thought to bear on our independence, and where applicable, related safeguards. From the matters communicated with the Board of Directors, we determine those matters that were of most significance in the audit of the financial statements of the current period and are therefore the key audit matters. We describe these matters in our au ditor’s report unless law or regulation precludes public disclosure about the matters or when, in extremely rare circumstances, we determine that a matter should not be communicated in our report because the adverse consequences of doing so would reasonabl y be expected to outweigh the public interest benefits of such communication.

Page 6 MAILPAC GROUP LIMITED STATEME N T OF FI N A N CIAL POSITIO N AS AT DECEMBER 31, 2025 Note 2025 2024 $ $ ASSETS N on-current Assets Property, plant and equipment 5 342,811,571 242,015,025 Right of use assets 6 165,788,394 185,812,766 Intangible assets 7 1,364,590,300 1,423,029,785 * Total non-current assets 1,873,190,265 1,850,857,576 Current Assets Due from related companies 8 2,967,671 1,400,002 Trade and other receivables 9 244,128,581 173,522,234 Cash and cash equivalents 10 362,360,178 253,764,585 Total current assets 609,456,430 428,686,821 TOTAL ASSETS 2,482,646,695 2,279,544,397 EQUITY A N D LIABILITIES Equity Share capital 11 267,356,112 267,356,112 Retained earnings 1,357,270,657 442,749,577 Total equity 1,624,626,769 710,105,689 N on-current Liabilities Lease liabilities 6 112,675,485 135,663,955 Deferred tax liability 12 14,844,280 9,509,636 Contingent consideration liability 27,30 121,000,000 1,266,027,507 * Total non-current liabilities 248,519,765 1,411,201,098 Current Liabilities Contingent consideration liability 27,30 243,000,000 - Lease liabilities 6 66,897,034 55,046,984 Trade and other payables 13 251,432,707 97,101,260 Due to related companies 14 1,518,203 2,214,395 Taxation payable 15 46,652,217 3,874,971 Total current liabilities 609,500,161 158,237,610 TOTAL EQUITY A N D LIABILITIES 2,482,646,695 2,279,544,397 The financial statements were approved for issue by the Board of Directors on June 29, 2026 and signed on its behalf by: _________________________ _________________________ Mr. Khary Robinson - Chairman Dr. Mark Gonzales - Director *restated to conform to current year presentation The accompanying notes form an integral part of the financial statements

Page 7 MAILPAC GROUP LIMITED STATEME N T OF COMPREHE N SIVE I N COME YEAR E N DED DECEMBER 31, 2025 Not e 2025 2024 $ $ Revenues 4 2,983,587,075 2,563,861,672 Cost of sales 16 1,344,374,702 1,311,561,953 Gross profit 1,639,212,373 1,252,299,719 Selling and distribution costs 17 127,622,565 96,909,079 Administrative and general expenses 18 983,167,494 781,595,519 1,110,790,059 878,504,598 Operating profit 19 528,422,314 373,795,121 Other income 20 2,357,209 1,263,842 530,779,523 375,058,963 Finance and policy costs 21 241,299,088 142,337,489 * Reduction of contingent consideration liability 30 902,027,507 - Profit before taxation 1,191,507,942 232,721,474 * Taxation charge 22 51,986,862 10,344,233 N et profit, being total comprehensive income for the year 1,139,521,080 222,377,241 * Earnings per share unit for profit attributable to the equity holders of the company during the year 23 0.09 0.09 *restated to conform to current year presentation The accompanying notes form an integral part of the financial statements

Page 8 MAILPAC GROUP LIMITED STATEME N T OF CHA N GES I N EQUITY YEAR E N DED DECEMBER 31, 2025 Share Retained Capital Earnings Total $ $ $ Balance at December 31, 2023 267,356,112 295,372,336 562,728,448 Transaction with owners: Dividends - (75,000,000) (75,000,000) Net profit, being total comprehensive income for the year - 222,377,241 222,377,241 Balance at December 31, 2024 267,356,112 442,749,577 710,105,689 Transaction with owners: Dividends (see note 26) - (225,000,000) (225,000,000) Net profit, being total comprehensive income for the year - 1,139,521,080 1,139,521,080 Balance at December 31, 2025 267,356,112 1,357,270,657 1,624,626,769 *restated to conform to current year presentation The accompanying notes form an integral part of the financial statements

Page 9 MAILPAC GROUP LIMITED STATEME N T OF CASH FLOWS YEAR E N DED DECEMBER 31, 2025 2025 2024 $ $ CASH FLOWS FROM OPERATI N G ACTIVITIES: Profit for the year 1,139,521,080 222,377,241 * Adjustments for items not affecting cash resources: Depreciation and amortization 55,583,584 40,462,080 * Depreciation right of use assets 75,570,303 45,008,305 Transfer of work-in-progress - 260,000 Interest expense on right of use assets 14,618,091 7,733,400 Loss on disposal of property, plant and equipment - 13,754 Increase in expected credit loss provision 25,750,705 13,139,654 Foreign currency loss / (gain) 3,764,649 (2,629,221) Impairment loss 21,400,000 - Reduction of contingent consideration liability (902,027,507) - Deferred taxation 5,334,644 6,469,262 Income tax expense 46,652,217 3,874,971 486,167,765 336,709,446 (Increase) / decrease in operating assets: Due from related companies (1,567,670) (669,278) Trade and other receivables (96,357,053) (116,251,251) Increase / (decrease) in operating liabilities: Trade and other payables (3,952,897) 29,024,082 Cash flows provided by operating activities 384,290,145 248,812,999 Taxation paid (3,874,971) - Net cash provided by operating activities 380,415,174 248,812,999 CASH FLOWS FROM I N VESTI N G ACTIVITIES Cost of work-in-progress (54,306,420) - Acquisition of property, plant and equipment (65,034,225) (76,315,660) Net cash used in investing activities (119,340,645) (76,315,660) CASH FLOWS FROM FI N A N CI N G ACTIVITIES Dividends paid (66,941,638) (64,972,439) Loan repayment to related companies (696,192) (3,032,541) Lease liabilities, net (84,384,461) (48,101,551) Net cash used in financing activities (152,022,291) (116,106,531) N ET I N CREASE I N CASH A N D CASH EQUIVALE N TS 109,052,238 56,390,808 CASH A N D CASH EQUIVALE N TS - Beginning of the year 253,764,585 198,846,170 Effects of movements on foreign currency bank balances (456,645) (1,472,393) CASH A N D CASH EQUIVALE N TS - End of the year 362,360,178 253,764,585 *restated to conform to current year presentation The accompanying notes form an integral part of the financial statements

Page 10 MAILPAC GROUP LIMITED N OTES TO THE FI N A N CIAL STATEME N TS YEAR E N DED DECEMBER 31, 2025 1. IDE N TIFICATIO N Mailpac Group Limited (the "Company") is a limited liability company incorporated in Jamaica on September 19, 2019, under the Jamaican Companies Act (the "Act"). The Company is domiciled in Jamaica with its registered office at 109 Old Hope Road, Kingston 6. The operations of Mailpac Group Limited were previously undertaken by two separate entities, Mailpac Services Limited and Mailpac Local Limited. On September 30, 2019, the net assets of these two entities were purchased by Mailpac Group Limited. In addition, Mailpac Group Limited acquired the long-term liabilities of Mailpac Services Limited. On April 1, 2024, the Company also acquired the assets of My Cart Quick Limited (see note 27). Mailpac Group Limited became publicly listed on the Junior Market of the Jamaica Stock Exchange on December 4, 2019. Consequently, the Company is entitled to a 100% remission of income taxes for the first five (5) years and 50% remission for the next five (5) years thereafter, providing that the Company complies with the requirements of the Jamaica Stock Exchange Junior Market. The principal activities of the Company are to provide international and domestic courier and mail order services, as well as online shopping of a variety of food, beverages and other household supplies. 2. STATEME N T OF COMPLIA N CE A N D BASIS OF PREPARATIO N (a) Statement of compliance: The Company's financial statements for the year ended December 31, 2025 have been prepared in accordance and comply with IFRS Accounting Standards and the relevant requirements of the Act. The financial statements have been prepared under the historical cost convention and are expressed in Jamaican dollars, unless otherwise indicated. The preparation of financial statements in conformity with IFRS Accounting Standards and the Act requires management accounting estimates are recognized in the period in which the estimate is revised, if the revision date of the financial statements and the reported amounts of revenues and expenses for the year then ended. Actual results could differ from these estimates. The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognized in the period in which the estimate is revised, if the revision affects only that period, or in the period of revision and future periods, if the revision affects both current and future periods. There are no significant assumptions and judgements applied in these financial statements that carry a risk of material adjustment in the next financial year.

Page 11 MAILPAC GROUP LIMITED N OTES TO THE FI N A N CIAL STATEME N TS YEAR E N DED DECEMBER 31, 2025 2. STATEME N T OF COMPLIA N CE A N D BASIS OF PREPARATIO N (CO N T'D) (b) Changes in accounting standards and interpretations: 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 interpretations and amendments are relevant to its operations: • IAS 21 'Lack of Exchangeability- Amendment', issued August 2024. Effective for annual periods commencing on or after 1 January 2025. These amendments contain guidance to specify when a currency is exchangeable and how to determine the exchange rate when it is not. The following new standards, amendments and interpretations, which are not yet effective and have not been adopted early in these financial statements, will or may have an effect on the Company's future financial statements: • IFRS 18 'Presentation and Disclosures in Financial Statements'-issued April 2024. Effective for periods commencing on or after 1 January 2027. This includes requirements for all entities applying IFRS for the presentation and disclosure of information in financial statements. • IFRS 7 and 9 'Classification and Measurement of Financial Instruments - Amendment', issued May 2024. Effective for annual periods commencing on or after 1 January 2026. The amendment is to address matters identified during the post-implementation review of the classification and measurement requirements of IFRS 9 'Financial Instruments'. The Board of Directors anticipate that the adoption of the standards, amendments and interpretations, which are relevant to the Company in future periods is unlikely to have any material impact on the financial statements.

Page 12 MAILPAC GROUP LIMITED N OTES TO THE FI N A N CIAL STATEME N TS YEAR E N DED DECEMBER 31, 2025 2. STATEME N T OF COMPLIA N CE A N D BASIS OF PREPARATIO N (CO N T'D) (c) Use of estimates and judgements The preparation of the financial statements requires management to make judgements, as well as estimates, based on assumptions, that affect the application of accounting policies, and the reported amounts of, and disclosures relating to, assets, liabilities, contingent assets and contingent liabilities at the reporting date and the income and expenses for the year then ended. Actual amounts may differ from these estimates. The estimates, and the assumptions underlying them, are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised if the revision affects only that period or in the period of the revision and future periods if the revision affects both current and future periods. Judgements made by management in the application of IFRS Accounting Standards that have a significant effect on the financial statements and estimates with material uncertainty that have a significant effect on amounts in the financial statements or that have a significant risk of material adjustment in the next financial year are set out below: (i) Critical accounting judgements in applying the Company’s accounting policies For the purpose of these financial statements, prepared in accordance with IFRS Accounting Standards, judgement refers to the informed identification and analysis of reasonable alternatives, considering all relevant facts and circumstances, and the well-reasoned, objective and unbiased choice of the alternative that is most consistent with the principles set out in IFRS Accounting Standards. (a) Classification of financial assets: The assessment of the business model within which the assets are held and assessment of whether the contractual terms of the financial asset are solely payments of principal and interest (SPPI) on the principal amount outstanding requires management to make certain judgements on its business operations. (b) Impairment of financial assets: Establishing the criteria for determining whether credit risk on the financial asset has increased significantly since initial recognition, determining the methodology for incorporating forward- looking information into the measurement of expected credit loss (ECL) and selection and approval of models used to measure ECL requires significant judgement. (c) 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 profit or loss through impairment or adjusted depreciation provisions.

Page 13 MAILPAC GROUP LIMITED N OTES TO THE FI N A N CIAL STATEME N TS YEAR E N DED DECEMBER 31, 2025 2. STATEME N T OF COMPLIA N CE A N D BASIS OF PREPARATIO N (CO N T'D) (c) Use of estimates and judgements (cont'd) (i) Critical accounting judgements in applying the Company’s accounting policies (Cont'd) (d) Allowance for expected credit losses (ECL) on trade receivables: In determining amounts recorded for impairment of financial assets in the financial statements, management makes assumptions in determining the inputs to be used in the ECL measurement model, including incorporation of forward-looking information. Management also makes estimates of the likely estimated future cash flows of impaired receivables, as well as the timing of such cash flows recoverable on the financial assets in determining loss given default. Historical loss experience is applied where indicators of impairment are not observable on individual significant receivables with similar characteristics, such as credit risks. (ii) Key assumptions and other sources of estimation uncertainty The following are the key assumptions concerning the future and other key sources of estimation uncertainty at the end of the reporting period, that have a significant risk of causing a material adjustment to the carrying amount of assets and liabilities within the next financial year. (a) Fair value estimation 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. Market price is used to determine fair value where an active market exists as it is the best evidence of the fair value of a financial instrument. The Company’s equities are the only financial instrument that is carried at fair value, also where fair value of financial instruments approximates carrying value, no fair value computation is done. IFRS requires disclosure of fair value measurements by level using the following fair value measurement hierarchy: Level 1 Quoted prices (unadjusted) in active markets for identical assets or liabilities. 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 level 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 values of financial instruments that are not traded in an active market are deemed to be determined as follows:

Page 14 MAILPAC GROUP LIMITED N OTES TO THE FI N A N CIAL STATEME N TS YEAR E N DED DECEMBER 31, 2025 2. STATEME N T OF COMPLIA N CE A N D BASIS OF PREPARATIO N (CO N T'D) (c) Use of estimates and judgements (cont'd) (ii) Key assumptions and other sources of estimation uncertainty (cont'd) (a) Fair value estimation (cont'd) • The face value, less any estimated credit adjustments, for financial assets and liabilities with a maturity of less than one year are estimated to approximate their fair values. These financial assets and liabilities include cash and bank balances, loan, trade and other payables, due to director and related parties. • The carrying values of long term liabilities approximate their fair values, as these loans are carried at amortised cost reflecting their contractual obligations and the interest rates are reflective of current market rates for similar transactions. (b) Allowance for expected credit losses The Company establishes a provision matrix to calculate ECLs for trade receivables. The provision matrix is based on its historical credit loss experience, adjusted for forward- looking factors specific to the debtors and the economic environment. The determination of the correlation between historical observed default rates, forecast economic conditions and ECLs is a significant estimate. The amount of the ECLs is sensitive to changes in circumstances and of forecast economic conditions. The Company's historical credit loss experience and forecast of economic conditions may also not be representative of customer's actual default in the future. (c) Estimating the incremental borrowing rate for leases If the company cannot readily determine the interest rate implicit in the lease, an incremental borrowing rate is used to measure lease liabilities. The incremental borrowing rate is the rate of interest that the company would have to pay to borrow over a similar term, and with a similar security, the funds necessary to obtain an asset of a similar value to the right-of-use asset in a similar economic environment. The incremental borrowing rate reflects what the company would have to pay, which requires estimation when no observable rates are available or when they need to be adjusted to reflect the terms and conditions of the lease. The Company estimates the incremental borrowing rate using available market interest rates.

Page 15 MAILPAC GROUP LIMITED N OTES TO THE FI N A N CIAL STATEME N TS YEAR E N DED DECEMBER 31, 2025 3. MATERIAL ACCOU N TI N G POLICIES (a) Property, plant and equipment All property, plant and equipment held for use in the supply of goods or services, or for administrative purposes, are recorded at historical or deemed cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses. Cost includes expenditures that are directly attributable to the acquisition of the asset. The cost of replacing part of an item of property, plant and equipment is recognized in the carrying amount of the item if it is probable that the future economic benefits embodied in the part will flow to the Company and its cost can be reliably measured. The cost of day-to-day servicing of property, plant and equipment is recognized in the statement of comprehensive income as incurred. With the exception of freehold land, on which no depreciation is provided, property, plant and equipment are depreciated on the reducing balance basis over the estimated useful lives of such assets. The rates of depreciation in use are: Motor vehicles 20% Computers 20% Machinery and equipment 10% Furniture and fixtures 10% Leasehold improvements 2.5% (b) Intangible assets Intangible assets represent goodwill, contracts rights with vendors, customers, tradenames, intellectual property rights and telephone numbers. These assets are carried at fair value. The Company determines when intangible assets are impaired at least on an annual basis or when events or circumstances indicates that the carrying value may be impaired. Intangible assets, except for goodwill, are amortized over the estimated useful lives of the assets of forty (40) and ten (10) years. (c) Leases A contract is, or contains, a lease if it conveys the right of use/control the use of an identified asset for a period of time in exchange for consideration. Control is conveyed where the customer has both the right to direct the identified asset’s use and to obtain substantially all the economic benefits from that use. Leases are recognise as assets and liabilities unless the lease term is 12 months or less or the underlying asset has a low value of less than US$5,000 or its Jamaica dollar equivalent. The Company applies the short term lease recognition exemption to its short term leases (that is, those leases that have a lease term of 12 months or less from the commencement date and do not contain a purchase option). Lease payments on short-term leases are recognised as expense on a straight-line basis over the lease term. The right-of-use asset is initially measured at cost, at the lease commencement date, i.e. the date at which the underlying asset is available for use by the Company. The right-of-use asset is depreciated on a straight-line basis over the remaining lease term. Lease liability The lease liability is initially measured at the present value of lease payments to be made over the lease term. The present value of lease payments, uses an incremental borrowing rate at the commencement date if the interest rate implicit in the lease is not readily determinable. The incremental borrowing rate corresponds to the rate that the lessee would have to pay to borrow the funds necessary to obtain an asset of similar value in a similar economic environment, with similar terms and conditions.

Page 16 MAILPAC GROUP LIMITED N OTES TO THE FI N A N CIAL STATEME N TS YEAR E N DED DECEMBER 31, 2025 3. MATERIAL ACCOU N TI N G POLICIES (CO N T'D) (d) Trade and other receivables Trade and other receivables are stated at amortized cost less any impairment losses, if any. (e) Related party identification A party is related to the Company if: (i) directly or indirectly the party: - controls, is controlled by, or is under common control with the Company; - has an interest in the Company that gives it significant influence over the Company; or - has joint control over the Company. (ii) the party is an associate of the Company (iii) the party is a joint venture in which the Company is a venturer; (iv) the party is a member of the key management personnel of the Company (v) the party is a close member of the family of an individual referred to in (i) or (iv) above (vi) the party is an entity that is controlled, jointly controlled or significantly influenced by, or for which significant voting power in such entity resides with, directly or indirectly, any individual referred to in (iv) or (v) above. (vii) the party is a post-employment benefit plan for the benefit of employees of the Company, or of any company that is a related party of the Company. A related party transaction is a transfer of resources, services or obligations between related parties, regardless of whether a price is charged. (f) Cash and cash equivalents Cash and cash equivalents comprise cash in hand and with banks and term deposits. (g) Trade and other payables Trade and other payables are recognized initially at fair value and subsequently measured at amortized cost using the effective interest method. (h) Provisions Provisions are recognized when the Company has a present legal or constructive obligation as a result of past events and it is probable that an outflow of resources will be required to settle the obligation. Provisions are measured at the directors’ best estimate of the expenditure required to settle the obligation at the reporting date and are discounted to present value where the effect is material. (i) Taxation Taxation expense represents the total of current income tax and deferred tax. (i) Current income tax Current income tax is the expected tax payable on the taxable income for the year, using tax rates enacted at the reporting date, and any adjustments to income tax payable in respect of previous period.

Page 17 MAILPAC GROUP LIMITED N OTES TO THE FI N A N CIAL STATEME N TS YEAR E N DED DECEMBER 31, 2025 3. MATERIAL ACCOU N TI N G POLICIES (CO N T'D) (i) Taxation (cont'd) (ii) Deferred income tax Deferred income tax is provided using the statement of financial position liability method, providing for temporary differences between the carrying amounts of assets and liabilities for financial reporting purposes and the amounts used for taxation purposes. Deferred tax liabilities are generally recognised for all taxable temporary differences and deferred tax assets are recognised to the extent that it is probable that taxable profits will be available against which deductible temporary differences can be utilized. The carrying amount of deferred tax assets is reviewed at each reporting date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. (j) Foreign currencies The financial statements are presented in the currency of the primary economic environment in which the Company operates (its functional currency). In preparing the financial statements of the Company, transactions in currencies other than the Company’s functional currency, the Jamaican dollar, are recorded at the rates of exchange prevailing on the dates of the transactions. At each reporting date, monetary items denominated in foreign currencies are retranslated at the rates prevailing on the reporting date. Non-monetary items that are measured in terms of historical cost in a foreign currency are not retranslated. Exchange differences arising on the settlement of monetary items and on the retranslation of monetary items, are included in the statement of comprehensive income for the period. (k) Revenue recognition Revenue comprises the fair value of the consideration received or receivable for the sale of services in the ordinary course of the Company's activities. Revenue is recognized when control of services passes to the customer, as contractual performance obligations are fulfilled. (l) Impairment At each reporting date, the Company reviews the carrying amounts of its tangible and intangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the Company estimates the recoverable amount of the cash generating unit to which the asset belongs. Recoverable amount is the higher of fair value less costs to sell and value in use. In assessing value in use, the estimated future cash flows are discounted to their present value using a pre-tax discount rate that reflects current market assessments of the time value of money and the risks specific to the asset. If the recoverable amount of an asset (or cash-generating unit) is estimated to be less than the carrying amount, the carrying amount of the asset (cash-generating unit) is reduced to its recoverable amount. Impairment losses are recognized as an expense immediately.

Page 18 MAILPAC GROUP LIMITED N OTES TO THE FI N A N CIAL STATEME N TS YEAR E N DED DECEMBER 31, 2025 3. MATERIAL ACCOU N TI N G POLICIES (CO N T'D) (l) Impairment (cont'd) When an impairment loss subsequently reverses, the carrying amount of the asset (cash-generating unit) is increased to the revised estimate of its recoverable amount, but so that the increased carrying amount does not exceed the carrying amount that would have been determined had no impairment loss been recognized for the asset (cash-generating unit) in prior years. A reversal of an impairment loss is recognized as income immediately. (m) Financial instruments Financial instruments include transactions that give rise to both financial assets and financial liabilities. Financial assets and liabilities are recognised on the Company’s statement of financial position when the Company becomes a party to the contractual provisions of the instrument. Financial assets and financial liabilities are initially measured at fair value. Transactions costs that are directly attributable to the acquisition or issue of financial assets and financial liabilities are added to or deducted from the fair value of the financial assets or financial liabilities (except for financial assets and financial liabilities at fair value through profit or loss where such costs are recognised immediately in profit or loss), as appropriate, on initial recognition. In these financial statements, financial assets comprise cash and bank balances, trade and other receivables and related party receivables. Financial liabilities comprise trade and other receivables and related party balances. Financial assets Initial recognition and measurement Financial assets are classified, at initial recognition, as subsequently measured at amortised cost, fair value through other comprehensive income (OCI), and fair value through profit or loss. The classification of financial assets at initial recognition depends on the financial asset’s contractual cash flow characteristics and the Company’s business model for managing them. The Company initially measures a financial asset at its fair value plus, in the case of a financial asset not at fair value through profit or loss (FVTPL), transaction costs. In order for a financial asset to be classified and measured at amortised cost or fair value through OCI, it needs to give rise to cash flows that are ‘solely payments of principal and interest (SPPI)’ on the principal amount outstanding. This assessment is referred to as the SPPI test and is performed at an instrument level. The Company’s business model for managing financial assets refers to how it manages its financial assets in order to generate cash flows. That is, whether the Company's objective is solely to collect the contractual cash flows from the assets or is to collect both the contractual cash flows and cashflows arising from the sale of assets. If neither of these is applicable (e.g. financial assets are held for trading purposes), then the financial assets are classified as part of 'other’ busi ness model and measured at FVTPL.

Page 19 MAILPAC GROUP LIMITED N OTES TO THE FI N A N CIAL STATEME N TS YEAR E N DED DECEMBER 31, 2025 3. MATERIAL ACCOU N TI N G POLICIES (CO N T'D) (m) Financial instruments (cont'd) Financial assets (cont'd) Subsequent measurement Financial assets at amortised cost are subsequently measured using the effective interest (EIR) method and are subject to impairment. Gains and losses are recognised in profit or loss when the asset is derecognised, modified or impaired. The Company’s financial assets at amortised cost includes trade and other receivables, due from related parties and cash and bank balances. Derecognition A financial asset (or, where applicable, a part of a financial asset or part of a Company of similar financial assets) is primarily derecognised (i.e., removed from the Company’s statement of financial position) when: • The rights to receive cash flows from the asset have expired or • The Company has transferred its rights to receive cash flows from the asset or has assumed an obligation to pay the received cash flows in full without material delay to a third party under a ‘pass - through’ arrangement; and either (a) the company has transferred substantially all the risks and rewards of the asset, or (b) the company has neither transferred nor retained substantially all the risks and rewards of the asset, but has transferred control of the asset When the Company has transferred its rights to receive cash flows from an asset or has entered into a pass-through arrangement, it evaluates if, and to what extent, it has retained the risks and rewards of ownership. Impairment The Company recognizes an allowance for expected credit losses (ECLs) on the financial instruments measured at amortised cost. ECLs are based on the difference between the contractual cash flows due in accordance with the contract and all the cash flows that the Company expects to receive, discounted at an approximation of the original effective interest rate. ECLs are recognized in two stages. For credit exposures for which there has not been a significant increase in credit risk since initial recognition, ECLs are provided for credit losses that result from default events that are possible within the next 12-months (a 12- month ECL). For those credit exposures for which there has been a significant increase in credit risk since initial recognition, a loss allowance is required for credit losses expected over the remaining life of the exposure, irrespective of the timing of the default (a lifetime ECL). For financial assets, the Company applies a simplified approach in calculating ECLs. Therefore, the Company does not track changes in credit risk, but instead recognises a loss allowance based on lifetime ECLs at each reporting date. The Company has established a provision matrix that is based on its historical credit loss experience, adjusted for forward-looking factors specific to the debtors and the economic environment.

Page 20 MAILPAC GROUP LIMITED N OTES TO THE FI N A N CIAL STATEME N TS YEAR E N DED DECEMBER 31, 2025 3. MATERIAL ACCOU N TI N G POLICIES (CO N T'D) (m) Financial instruments (cont'd) Financial assets (cont'd) Impairment (cont'd) The Company considers a financial asset in default when contractual payments are 180 days past due. However, in certain cases, the Company may also consider a financial asset to be in default when internal or external information indicates that the Company is unlikely to receive the outstanding contractual amounts in full before taking into account any credit enhancements held by the Company. A financial asset is written off when there is no reasonable expectation of recovering the contractual cash flows. Financial liabilities Initial recognition and measurement The Company’s financial liabilities, comprising loans and accounts payable, are initially measured at fair value, net of transaction costs, and are subsequently measured at amortised cost using the effective interest method. Gains and losses are recognized in profit or loss when the liabilities are derecognised as well as through the EIR amortisation process. Amortised cost is calculated by taking into account any discount or premium on acquisition and fees or costs that are an integral part of the EIR. The EIR amortisation is included as finance costs in the statement of profit or loss. (n) Employee benefits Employee benefits are all forms of consideration given by the Company in exchange for service rendered by employees. These include current or short-term benefits such as salaries, bonuses, statutory contributions, vacation leave, non-monetary benefits such as medical care; post- employment benefits such as pensions; and other long term employee benefits such as termination benefits. Employee benefits that are earned as a result of past or current service are recognized in the following manner: - Short-term employee benefits are recognized as a liability, net of payments made, and charged to expense. The expected cost of vacation leave that accumulates is recognized when the employee becomes entitled to the leave. (o) Provisions Provisions are recognized when the Company has a present legal or constructive obligation as a result of past events and it is probable that an outflow of resources will be required to settle the obligation. Provisions are measured at the directors’ best estimate of the expenditure required to settle the obligation at the reporting date and are discounted to present value where the effect is material.

Page 21 MAILPAC GROUP LIMITED N OTES TO THE FI N A N CIAL STATEME N TS YEAR E N DED DECEMBER 31, 2025 3. MATERIAL ACCOU N TI N G POLICIES (CO N T'D) (p) Borrowing costs Borrowing costs directly attributable to the acquisition, construction or production of qualifying assets, which are assets that necessarily take a substantial period of time to get ready for their intended use or sale, are added to the cost of those assets, until such time as the assets are substantially ready for their intended use or sale. All other borrowing costs are recognized in profit or loss in the period in which they are incurred. (q) Dividends Dividends on ordinary shares are recognized in shareholders equity in the period in which they are approved by the Board of Directors.

Page 22 MAILPAC GROUP LIMITED N OTES TO THE FI N A N CIAL STATEME N TS YEAR E N DED DECEMBER 31, 2025 4. REVE N UES Revenues represent the value of goods and services sold to third parties, excluding discounts, rebates and general consumption tax. Revenue is earned from the provision of local and international courier and mail order services as well as from the sale of food beverages and household supplies from its online platform. 5. PROPERTY, PLA N T A N D EQUIPME N T Furniture Machinery Leasehold and and Motor Work-in Improvement Fixtures Equipment Vehicles Progress Total At Cost/Valuation: Balance as at December 31, 2023 70,904,014 14,947,075 31,784,137 5,617,737 40,471,552 163,724,515 Disposal - - (21,500) - - (21,500) Transferred from work-in-progress 260,000 - - - (260,000) - Transferred on acquisition 9,141,300 5,447,169 8,087,093 11,210,000 - 33,885,562 Additions 39,526,712 6,045,697 13,282,382 17,460,869 - 76,315,660 Balance as at December 31, 2024 119,832,026 26,439,941 53,132,112 34,288,606 40,211,552 273,904,237 Additions 20,403,437 4,635,764 15,582,107 24,412,917 54,306,420 119,340,645 Balance as at December 31, 2025 140,235,463 31,075,705 68,714,219 58,701,523 94,517,972 393,244,882 Accumulated Depreciation: Balance as at December 31, 2023 5,440,190 3,324,944 7,714,685 3,193,990 - 19,673,809 Disposal - - (7,202) - - (7,202) Charge for the period 2,015,671 1,792,190 4,916,529 3,498,215 - 12,222,605 Balance as at December 31, 2024 7,455,861 5,117,134 12,624,012 6,692,205 - 31,889,212 Charge for the year 2,971,883 2,263,296 6,228,516 7,080,404 18,544,099 Balance as at December 31, 2025 10,427,744 7,380,430 18,852,528 13,772,609 - 50,433,311 N et book value: At December 31, 2025 129,807,719 23,695,275 49,861,691 44,928,914 94,517,972 342,811,571 At December 31, 2024 112,376,165 21,322,807 40,508,101 27,596,401 40,211,552 242,015,025

Page 23 MAILPAC GROUP LIMITED N OTES TO THE FI N A N CIAL STATEME N TS YEAR E N DED DECEMBER 31, 2025 6. RIGHT OF USE ASSETS / LEASE LIABILITIES Office Building At Valuation $ Balance at December 31, 2023 72,774,932 Terminated right of use asset (7,360,557) Additions 190,175,886 Balance at December 31, 2024 255,590,261 Terminated right of use asset (52,484,676) Additions 55,545,929 Balance at December 31, 2025 258,651,514 Depreciation charge of right of use asset Balance at December 31, 2023 31,267,564 Depreciation on terminated right of use asset (6,498,374) Charge for the year 45,008,305 Balance at December 31, 2024 69,777,495 Depreciation on terminated right of use asset (6,498,374) Charge for the year 29,583,999 Balance at December 31, 2025 92,863,120 N et Book Value Balance at December 31, 2025 165,788,394 Balance at December 31, 2024 185,812,766 Lease Liability: 2025 2024 $ $ Non-current lease liability 112,675,485 135,663,955 Current lease liability 66,897,034 55,046,984 179,572,519 190,710,939

Page 24 MAILPAC GROUP LIMITED N OTES TO THE FI N A N CIAL STATEME N TS YEAR E N DED DECEMBER 31, 2025 7. I N TA N GIBLE ASSETS As at September 30, 2019, Mailpac Group Limited acquired the net assets of Mailpac Local Limited and Mailpac Services Limited. Mailpac Group Limited also acquired the long-term liabilities of Mailpac Services Limited. Goodwill acquired on this acquisition was approximately $171 million. Intangible assets are carried at amortized cost and depreciated over a 40-year useful life and consist of customer contracts, lists of existing customers and other intangibles. On April 1, 2024, the Company acquired the assets of My Cart Quick Limited (“MyCart”) . During the year ended December 31, 2025, the Company finalised the purchase price allocation in accordance with IFRS 3 Business Combinations. The provisional amounts recognised for 2024 have been retrospectively adjusted to reflect the final fair values of identifiable intangible assets acquired and the related amortisation from the acquisition date. 2025 2024 $ $ Cost: Purchase goodwill 171,000,000 171,000,000 Goodwill acquired from MyCart 689,508,029 689,508,029 Trade name 173,000,000 173,000,000 Customer relationships 352,000,000 352,000,000 Customer contracts, lists of existing customers and other intangibles 73,579,000 73,579,000 1,459,087,029 1,459,087,029 Amortization: Balance at beginning of the year 36,057,244 7,817,769 Charge for the year 37,039,485 28,239,475 Impairment loss 21,400,000 - 94,496,729 36,057,244 Balance at end of the year 1,364,590,300 1,423,029,785 8. DUE FROM RELATED COMPA N IES 2025 2024 $ $ Norbrook Car Rentals Limited 536,425 144,609 Robeon Limited 53,645 138,768 Norbrook Transaction Services Limited (Epay) 1,263,474 60,560 Norbrook Equity Partners Limited - 265,711 Express Fitness Limited 1,114,127 790,354 2,967,671 1,400,002 These represent advances to related companies, which are unsecured, interest free and have no fixed repayment date.

Page 25 MAILPAC GROUP LIMITED N OTES TO THE FI N A N CIAL STATEME N TS YEAR E N DED DECEMBER 31, 2025 9. TRADE A N D OTHER RECEIVABLES Trade receivables materially represent balance due on credit sales. 2025 2024 $ $ Trade receivables 154,817,880 101,477,130 Less : expected credit loss provision (44,907,183) (19,156,478) Net trade receivables 109,910,697 82,320,652 Deposits 11,500,623 9,099,374 Prepayments 4,556,523 1,022,775 Other receivables 118,160,738 81,079,433 244,128,581 173,522,234 10. CASH A N D CASH EQUIVALE N TS 2025 2024 $ $ Current accounts 362,191,589 253,450,421 Cash in hand 168,589 314,164 362,360,178 253,764,585 11. SHARE CAPITAL 2025 2024 $ $ Authorized share capital: No maximum share capital Issued and fully paid: 2,250,000,000 ordinary shares of no par value 27,395,000 27,395,000 250,000,000 ordinary shares of no par value 250,000,000 250,000,000 Less: transaction costs of share issue (10,038,888) (10,038,888) 267,356,112 267,356,112 (a) The issued share capital of the Company was increased to 2,250,000,000 shares prior to the initial public offering ("IPO"). An additional 250,000,000 new shares were offered to the general public in the IPO on December 4, 2019. (b) The proceeds of the sale of the 250,000,0000 shares issued to the general public in December 2019 amounted to $250,000,000 less transaction cost of $10,038,888.

Page 26 MAILPAC GROUP LIMITED N OTES TO THE FI N A N CIAL STATEME N TS YEAR E N DED DECEMBER 31, 2025 12. DEFERRED TAX LIABILITY Certain deferred tax assets and liabilities have been offset in accordance with International Accounting Standard ("IAS") 12. IAS 12 permits the offsetting of deferred tax assets and liabilities if the entity has a legal right to settle current tax amounts on a net basis and the deferred tax amounts are levied by the same tax authority on the same entity. 2025 2024 $ $ Deferred tax liability 14,844,280 9,509,636 Deferred tax liability is attributable to the following: 2025 2024 $ $ Property, plant and equipment 14,673,623 9,509,636 Cash and cash equivalents 114,161 - Trade payables 56,496 - 14,844,280 9,509,636 The movement during the year in the Company’s deferred tax position was as follows: 2025 2024 $ $ Balance at the beginning of the year 9,509,636 3,040,374 Movement during the year 5,334,644 6,469,262 Balance at the end of the year 14,844,280 9,509,636 13. TRADE A N D OTHER PAYABLES 2025 2024 $ $ Trade payables 48,489,493 56,713,925 Statutory liabilities 11,528,867 12,199,704 GCT payable 731,438 393,029 Accruals 12,953,470 9,995,437 Dividend payable 158,058,362 10,027,561 Other payables 19,671,077 7,771,604 251,432,707 97,101,260

Page 27 MAILPAC GROUP LIMITED N OTES TO THE FI N A N CIAL STATEME N TS YEAR E N DED DECEMBER 31, 2025 14. DUE TO RELATED COMPA N IES 2025 2024 $ $ Norbrook Equity Partners Limited 174,037 841,312 Express Fitness Limited - 71,000 109 OHR Limited 1,344,166 1,302,083 1,518,203 2,214,395 15. TAXATIO N PAYABLE Taxation payable is based on profit for the year, adjusted for taxation purposes, subject to the agreement of the Taxpayer Audit and Assessment Department. 2025 2024 $ $ Balance at the beginning of the year 3,874,971 - Income tax charge for the year 46,652,217 3,874,971 Less: tax payment made within the year (3,874,971) - Taxation payable at the end of the year 46,652,217 3,874,971 16. COST OF SALES 2025 2024 $ $ Freight and brokerage 1,269,212,160 1,234,426,411 Delivery 42,163,217 36,905,117 Packaging material 4,766,591 3,986,061 On-line orders 28,232,734 36,244,364 1,344,374,702 1,311,561,953

Page 28 MAILPAC GROUP LIMITED N OTES TO THE FI N A N CIAL STATEME N TS YEAR E N DED DECEMBER 31, 2025 17. SELLI N G A N D DISTRIBUTIO N COSTS 2025 2024 $ $ Advertising 48,034,853 46,802,559 Customer welfare 1,063,868 286,472 Commission fees 5,283,231 5,146,072 Transportation and delivery 73,240,613 44,673,976 127,622,565 96,909,079 18. ADMI N ISTRATIVE A N D GE N ERAL EXPE N SES 2025 2024 $ $ Audit fees 3,684,470 3,349,500 Directors' emoluments 1,080,000 900,000 Utilities 35,190,318 29,021,797 Insurance 16,993,176 11,673,641 Irrecoverable GCT 45,506,303 35,087,479 Legal and professional fees 46,854,588 16,678,838 General office expenses 7,406,941 6,007,880 Meal and entertainment 3,379,632 1,811,534 Accommodation 1,043,892 1,443,397 Management fee 24,000,000 24,000,000 Repairs and maintenance 31,176,421 21,784,598 Staff welfare 29,685,700 24,794,581 Casual labour 14,619,730 18,968,255 Salaries wages and related costs 458,415,909 408,500,315 Security 49,744,767 41,833,879 Subscriptions, sponsorship and donations 7,212,773 7,501,443 Software licences 63,579,582 51,043,295 Short term leases 41,042,031 34,084,531 Cleaning and sanitation 18,923,980 15,287,988 Software development 83,627,281 27,822,568 983,167,494 781,595,519 19. OPERATI N G PROFIT 2025 2024 $ $ 528,422,314 373,795,121 Stated after charging the following: Directors' remuneration 1,080,000 900,000 Auditor's remuneration 3,684,470 3,349,500

Page 29 MAILPAC GROUP LIMITED N OTES TO THE FI N A N CIAL STATEME N TS YEAR E N DED DECEMBER 31, 2025 20. OTHER I N COME 2025 2024 $ $ Interest income 1,563,594 1,243,496 Other income 793,615 20,346 2,357,209 1,263,842 21. FI N A N CE A N D POLICY COSTS 2025 2024 $ $ Bank charges 44,314,272 36,603,503 Expected credit loss provision 25,750,705 13,139,654 Interest expense on right-of-use assets 14,618,091 7,733,400 Interest expense 297,483 102 Depreciation on property, plant and equipment 18,544,099 12,222,605 Depreciation-right-of-use assets 75,570,303 45,008,305 Amortization 37,039,485 28,239,475 * Impairment loss 21,400,000 - Penalties - 132,250 Loss on disposal of property, plant and equipment - 13,754 Unrealized gain on foreign exchange (3,614,710) (1,500,214) Realized gain on foreign exchange (5,728,296) (7,245,402) Unrealized loss on foreign exchange 3,576,964 3,214,846 Realized loss on foreign exchange 9,530,692 4,775,211 241,299,088 142,337,489 * *restated to conform to current year presentation

Page 30 MAILPAC GROUP LIMITED N OTES TO THE FI N A N CIAL STATEME N TS YEAR E N DED DECEMBER 31, 2025 22. TAXATIO N CHARGE Income tax charge is computed based on the profit for the year, however, as a result of the Company's enlistment on the Jamaica Stock Exchange Junior Market effective December 4th, 2019, the Company is entitled to a 100% remission of income tax for the first 5 years and 50% remission for the following 5 years, providing that it adheres to the rules and regulations of the Jamaica Stock Exchange Junior Market. Income tax is computed at 25% of the pre-tax profit for year, as adjusted for taxation purposes. Deferred taxation is computed at 25% for the financial year based on the applicable income tax rate for unregulated companies with effective date from January 1, 2013. The taxation charge is made up as follows: 2025 2024 $ $ Current: Provision for charge on profit 46,652,217 3,874,971 Deferred: Origination and reversal of temporary differences 5,334,645 6,469,262 51,986,862 10,344,233 Reconciliation of effective tax rate and charge: 2025 2024 $ $ Profit before taxation 1,191,507,942 232,721,474 * Computed tax charge 297,876,985 58,180,367 * Taxation differences between profit for financial statements and tax reporting purposes on: Depreciation and capital allowances 459,872 4,168,548 Unrealized foreign exchange gain (333,568) 258,773 Other adjustments (199,364,210) 12,500,370 * Remission of income taxes (46,652,217) (64,763,825) Actual tax rate and charge 51,986,862 10,344,233 23. EAR N I N GS PER SHARE The calculation of earnings per share is based on the profit after taxation and the weighted average number of shares in issue during the year. 2025 2024 $ $ Net profit attributable to shareholders 1,139,521,080 222,377,241 * Less: reduction of contingent consideration liability (902,027,507) - 237,493,573 222,377,241 Weighted average number of shares in issue 2,500,000,000 2,500,000,000 $ 0.09 $ 0.09 * *restated to conform to current year presentation

Page 31 MAILPAC GROUP LIMITED N OTES TO THE FI N A N CIAL STATEME N TS YEAR E N DED DECEMBER 31, 2025 24. RELATED PARTIES (a) The following related party balances are shown separately in the Company's statement of financial position: 2025 2024 $ $ Amounts due from related parties 2,967,671 1,400,002 Amounts due to related parties 1,518,203 2,214,395 The Company's statement of comprehensive income includes the following transactions, undertaken with related parties in the ordinary course of business: 2025 2024 $ $ (a) Corporate services - Norbrook Equity Partners Limited 24,000,000 24,000,000 (b) Rent expense - Norbrook Equity Partners Limited 2,071,667 2,260,000 (c) Meals & entertainment - Norbrook Equity Partners Limited 2,933,955 1,519,068 (d) Water purchase - Pure National Limited 284,154 357,814 (e) Gym membership fees - Express Fitness Limited 1,603,478 758,000 (f) Rent expense -109 OHR Limited 16,012,827 15,717,910 (g) Professional fees- SNB Creative Group - 1,549,062 Transactions with key management personnel: Key management compensation 78,206,303 86,133,923 25. STAFF COSTS The number of employees at the end of the year was as follows: 2025 2024 Temporary 12 30 Permanent 238 223 250 253 The aggregate payroll costs for these persons were as follows: 2025 2024 $ $ Salaries and profit related pay 411,142,454 368,444,508 Statutory contributions 47,273,455 40,055,807 458,415,909 408,500,315

Page 32 MAILPAC GROUP LIMITED N OTES TO THE FI N A N CIAL STATEME N TS YEAR E N DED DECEMBER 31, 2025 26. DIVIDE N DS The Company at its Board of Mailpac Group Limited declared dividend on Friday June 20, 2025 of $0.03 per share, paid to shareholders on record at the close of business on Friday July 4, 2025 with a payment date of Monday July 31, 2025. Additionally, the Board of Directors declared at its meeting on December 05, 2025, an interim dividend of 6 cents ($0.06) per share which will be paid on January 08, 2026 to shareholders on record at the close of business on December 22, 2025. 27. BUSI N ESS COMBI N ATIO N The Company acquired the assets of My Cart Quick Limited ("MyCart") on April 1, 2024. The purchase consideration was contingent on MyCart's financial performance for the twelve-month period from April 1, 2024 to March 31, 2025. During the year ended December 31, 2025, the Company finalised the purchase price allocation within the measurement period permitted under IFRS 3 Business Combinations. Accordingly, the provisional amounts recognised as at December 31, 2024 have been retrospectively adjusted to reflect the final fair values of the identifiable assets and liabilities assumed. Details of the purchase consideration, net assets acquired and goodwill are as follows: $ (i) Purchase consideration 1,266,027,507 (ii) Identifiable assets acquired: $ Plant and equipment 33,885,562 Cash 62,276 Trade and other receivables 17,571,640 Trade name 173,000,000 Customer relationship 352,000,000 Total net identifiable assets 576,519,478 (iii) Goodwill on acquisition $ Purchase consideration 1,266,027,507 Less: Total identifiable assets (576,519,478) Goodwill on acquisition 689,508,029

Page 33 MAILPAC GROUP LIMITED N OTES TO THE FI N A N CIAL STATEME N TS YEAR E N DED DECEMBER 31, 2025 28. FI N A N CIAL I N STRUME N TS Financial risk management The Company has exposure to the following risks from its use of financial instruments: - Credit risk - Liquidity risk - Market risk - Cash flow risk The Board of Directors, together with senior management has overall responsibility for the establishment and oversight of the Company’s risk management framework. The Company's risk management policies are established to identify and analyse the risks faced by the Company in order to set appropriate risk limits and controls, and to monitor risks and adherence to limits. Risk management policies and systems are reviewed regularly to reflect changes in market conditions and the Company’s activities. (i) 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. The Company’s principal financial assets are cash and bank deposits, accounts receivable and long-term receivables. Cash and bank balances The credit risk on cash and bank deposits is limited as they are held with financial institutions with high credit rating. Trade receivables The Company’s exposure to credit risk is influenced mainly by the individual characteristic of each customer. Management has a credit policy in place to minimise exposure to credit risk. Credit evaluations are performed on all customers requiring credit. Management's policy is to provide for balances based on past default experience, current economic conditions and expected recovery. The impairment requirements of IFRS 9 are based on an 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. The Company estimates expected credit losses on trade receivables and receivables from related entities using a provision matrix based on historical credit loss experience as well as the credit risk and expected developments for each group of customers. The following table provides in formation about the ECL’s for trade receivables and receivables from related entities as at 31 December 2025. 2025 Aging Gross Carrying Amount Weighted Average Loss Rate Lifetime ECL Allowance Current 63,885,201 2% 1,205,533 31-60 days 18,034,553 14% 2,491,908 61-90 days 22,595,961 39% 8,763,960 91 days and over 50,302,165 65% 32,445,781 Total 154,817,880 44,907,183

Page 34 MAILPAC GROUP LIMITED N OTES TO THE FI N A N CIAL STATEME N TS YEAR E N DED DECEMBER 31, 2025 28. FI N A N CIAL I N STRUME N TS (CO N T'D) Financial risk management (cont’d): (i) Credit risk Trade receivables (cont'd) 2024 Aging Gross Carrying Amount Weighted Average Loss Rate Lifetime ECL Allowance Current 61,751,836 1% 578,679 31-60 days 10,466,517 1% 107,744 61-90 days 7,549,196 9% 650,380 91 days and over 21,709,581 82% 17,819,675 Total 101,477,130 19,156,478 (ii) Liquidity risk Liquidity risk is the risk that the Company will not meet its financial obligations as they fall due. The Company’s approach to managing liquidity is to ensure, as far as possible, that it will always have sufficient liquidity to meet its liability when due, under both normal and stressed conditions, without incurring unacceptable losses or risking damage to the Company. Management aims at maintaining sufficient cash and the availability of funding through an amount of committed facilities. The management maintains an adequate amount of its financial assets in liquid form to meet contractual obligations and other recurring payments. The following are the contractual maturities of the non-derivative financial liabilities, including interest payments and excluding the impact of netting agreements. Carrying Contractual Less than More than amount cash flow 1 year 1 year 2025: Lease liabilities 179,572,519 179,572,519 66,897,034 112,675,485 Trade and other payables 251,432,707 251,432,707 251,432,707 - 431,005,226 431,005,226 318,329,741 112,675,485 2024: Lease liabilities 190,710,939 190,710,939 55,046,984 135,663,955 Trade and other payables 97,101,260 97,101,260 97,101,260 - 287,812,199 287,812,199 152,148,244 135,663,955 (iii) Market risk Market risk is the risk that changes in market prices, such as foreign exchange rates, and interest rates will affect the Company’s income or the value of its holding of financial instruments. The objective of market is to manage and control market risk exposures within acceptable parameters, while optimising the return.

Page 35 MAILPAC GROUP LIMITED N OTES TO THE FI N A N CIAL STATEME N TS YEAR E N DED DECEMBER 31, 2025 28. FI N A N CIAL I N STRUME N TS (CO N T'D) Financial risk management (cont’d): (iii) Market risk (cont’d): 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. The Company materially contracts financial liabilities at fixed interest rates for the duration of the term. When utilised, bank overdrafts are subject to fixed interest rates which may be varied by appropriate notice by the lender. At December 31, 2025 and 2024, there were no financial liabilities subject to variable interest rate risk. Interest-bearing financial assets comprises of bank deposits, which have been contracted at fixed interest rates for the duration of their terms. Fair value sensitivity analysis for fixed rate instruments The Company does not hold any fixed rate financial assets that are subject to material changes in fair value through profit or loss. Therefore, a change in interest rates at the reporting dates would not affect profit or equity. Foreign currency risk: Foreign currency risk is the risk that the value of a financial instrument will fluctuate due to changes in foreign exchange rates. The Company is exposed to significant foreign currency risk, primarily on purchases that are denominated in a currency other than the Jamaican dollar. Such exposures comprise the monetary assets and liabilities of the Company that are not denominated in that currency. The main foreign currency risks of the Company are denominated in United States dollars (US$), which is the principal intervening currency for the Company. The Company jointly manages foreign exchange exposure by maintaining adequate liquid resources in appropriate currencies and by managing the timing of payments on foreign currency liabilities. The table below shows the Company’s main foreign currency exposure at reporting date. 2025 2024 US$ US$ Cash and cash equivalents 450,970 406,342 Trade payables (116,892) (175,992) Lease liabilities (638,864) (753,468) Net exposure (304,786) (523,118) Sensitivity analysis: A 1% (2024:1%) strengthening of the United States dollar against the Jamaican dollar at December 31, 2025 would have decreased the surplus for the year by $481,511 (2024: $813,983). The analysis assumes that all other variables, in particular interest rates, remain constant.

Page 36 MAILPAC GROUP LIMITED N OTES TO THE FI N A N CIAL STATEME N TS YEAR E N DED DECEMBER 31, 2025 28. FI N A N CIAL I N STRUME N TS (CO N T'D) Financial risk management (cont’d): (iii) Market risk (cont’d): A 1.5% (2024: 4%) weakening of the United States dollar against the Jamaican dollar at December 31, 2025 would have increased the surplus for the year by $722,267 (2024: $3,255,932). This analysis assumes that all other variables, in particular interest rates, remain constant. (iv) Cash flow risk Cash flow risk is the risk that future cash flows associated with a monetary financial instrument will fluctuate because of changes in market interest rates. The Company manages this risk through budgetary measures, ensuring, as far as possible, that fluctuations in cash flows relating to monetary financial assets and liabilities are matched, to mitigate any significant adverse cash flows. (v) Capital management The Company's objectives when managing capital are to comply with capital requirements, safeguard the Company's ability to continue as a going concern and to maintain strong capital base to support the development of its business. The Company achieves this by retaining earnings from past profits and by managing the returns on borrowed funds to protect against losses on its core business.

Page 37 MAILPAC GROUP LIMITED N OTES TO THE FI N A N CIAL STATEME N TS YEAR E N DED DECEMBER 31, 2025 29. RESTATEME N T OF COMPARATIVE I N FORMATIO N During the year ended December 31, 2025, the Company finalised the purchase price allocation relating to the acquisition of My Cart Quick Limited ("MyCart") on April 1, 2024. In accordance with IFRS 3 Business Combinations, the provisional amounts recognised as at December 31, 2024 have been retrospectively adjusted to reflect the final fair values of the identifiable assets and liabilities existing as at the acquisition date. The adjustments arising from the finalisation of the purchase price allocation were: • Recognition of trade name intangible asset of $173,000,000; • Recognition of customer relationship intangible asset of $352,000,000; • Reduction of provisional goodwill by approximately $469,505,140; • Increase in contingent consideration liability by approximately $55,494,860 representing the assembled workforce (part of goodwill); • Recognition of amortisation expense of $26,400,000 for the period April 1, 2024 to December 31, 2024. The effect of the restatement on the comparative financial statements is summarised below: Previously Reported Adjustment Restated $ $ $ Intangible assets 1,393,934,925 29,094,860 1,423,029,785 Contingent consideration liability 1,210,532,647 55,494,860 1,266,027,507 Retained earnings 469,149,577 (26,400,000) 442,749,577 Net profit 248,777,241 (26,400,000) 222,377,241

Page 38 MAILPAC GROUP LIMITED N OTES TO THE FI N A N CIAL STATEME N TS YEAR E N DED DECEMBER 31, 2025 30. SUBSEQUE N T EVE N T During the course of the audit for the year ended December 31, 2025, management confirmed that discussions with the vendors regarding a possible amendment to the settlement arrangements had commenced prior to the end of the reporting period. It is acknowledged that no legally binding agreement regarding the settlement arrangement had been executed as at December 31, 2025. However, under IAS 10 Events After the Reporting Period, the classification of an event as adjusting does not require that a legally binding agreement be in place at the reporting date. An adjusting event is one that provides evidence of conditions that existed at the reporting period. IAS 10.3 requires only that the conditions giving rise to the extent existed at the reporting date. Management's confirmed intention and the commencement of substantive discussions prior to December 31, 2025 constitute sufficient evidence of the existence of the underlying condition at the reporting date, despite the absence of a legally executed agreement at that date. In accordance with IAS 10.3, the decision to accept substantially less than the original recorded consideration having been reached before December 31, 2025 constitutes evidence of a condition existing at the reporting date. This event is therefore classified as an adjusting event and the financial statements have been adjusted to reflect the revised settlement terms as at December 31, 2025. The change in fair value of the contingent consideration liability is recognised in the statement of comprehensive income for the year ended December 31, 2025 under IFRS 9 Financial Instruments. The 12-month measurement period under IFRS 3 expired on March 31, 2025. In accordance with IFRS 3.50, no adjustments to the goodwill arising from the changes in the contingent consideration are permitted after the expiry of the measurement period; any such changes are recognised prospectively in the statement of comprehensive income. Management has confirmed that the revision to the settlement terms arose solely from a decision to change the settlement amount of the acquisition consideration and was not driven by any change in the underlying financial performance of MyCart. Under the revised agreement, the original settlement term was replaced with a payment comprising cash of $243 million and the issuance of 50,000,000 ordinary shares, which resulted in a total revised consideration of $364 million. The share consideration estimated fair value is $121 million based on the closing price of $2.42 as at December 31, 2025. The cash consideration of $243 million was paid on April 15, 2026. The issuance and listing of the 50,000,000 shares is pending and is expected to be completed at a subsequent date, the timing of which had not been finalised at the date of authorisation of these financial statements. The effect on the financial statements is summarised below: $ Contingent consideration liability - as previously recorded 1,266,027,507 Revised fair value of cash settlement consideration (243,000,000) Revised fair value of shares settlement consideration - 50,000,000 shares at $2.42 (121,000,000) Reduction of contingent consideration liability 902,027,507