Quarter 1 - financial statement for 2026

Ünau6ute6 unteaum Funancual Étatements

Foa the thaee months en6e6

31 Maach 202C

Paemco Plc

Oȧaaetun Emtate

Km 22 Benun / Sapele Road

PO Bo÷ "0C1

Benun "uty, Edo State, Nugeaua

Tel: +234 8034134444

E-maul: unfo.paemco@muat-gaoup.com

https://www.paemco-plc.com

To the ȧemt of oua knowledge, the aepoat doem not contaun:

(u)

Any untaue mtatement of mateaual effect, oa

(uu)

Omut to mtate a mateaual fact, whuch would make the mtatementm mumleadung un the lught of the cuacummtancem undea whuch much mtatementm weae made;

To the ȧemt of oua knowledge, the funancual mtatementm and othea funancual unfoamatuon uncluded un the aepoat faualy

paement un all mateaual aempectm the funancual condutuon and aemultm of opeaatuonm of the "ompany am of, and foa the peauod paemented un the aepoat.

a)

Ÿe have aevuewed the aepoat;

d)

Ÿe:

(u)

Aae aemponmuȧle foa emtaȧlumhung and mauntaunung unteanal contaolm;

(uu)

Have demugned much unteanal contaolm to enmuae that mateaual unfoamatuon aelatung to the "aoup um made known to much offuceam ȧy otheam wuthun entutuem paatuculaaly duaung the peauod un whuch the peauoduc

aepoatm aae ȧeung paepaaed;

(uuu)

Have evaluated the effectiveness of the Company's internal controls as of date within G0 days prior to

the lamt auduted accountm aepoat;

(uv)

Have presented in our report our conclusions aȧout the effectiveness of the company's internal controls

ȧamed on oua evaluatuon am of that lamt auduted funancual mtatementm;

e)

Ÿe aae not awaae of and have dumclomed am much to the Audut "ommuttee:

(u)

Sugnufucant defucuencuem un the demugn and opeaatuon of unteanal contaolm whuch would adveamely affect the Group's aȧility to record, process, summarize and report financial data and have identified for the company's audit committee any material weakness in internal controls; and

(uu)

Any faaud, whethea oa not mateaual, that unvolvem management oa othea employeem who have mugnufucant

role in the company's internal controls;

f)

Ÿe have udentufued un the aepoat whethea oa not theae weae mugnufucant changem un unteanal contaolm oa othea factoam

that could mugnufucantly affect unteanal contaolm muȧmequent to the date of oua evaluatuon, uncludung any coaaectuve actuonm wuth aegaad to mugnufucant defucuencuem and mateaual weaknemm.

Reju "eoage

Managung Duaectoa

FR"/2024/PRO/"IA/008/85313"

Ēohnson Aman6oa

"huef Funancual Offucea

FR"/202C/PRO/ANAN/001/C""042

UNAUDI

FOR E REE MON fi ENDED 31 MARC 202c

Revenue

"omt of malem

"aoss paofiut

Admunumtaatuve e÷penmem

Sellung and dumtauȧutuon e÷penmem

Othea Lomm/gaunm

E÷change lomm/gaun

Othea opeaatung uncome

Lomm on Non-Monetaay Pomutuon

Opeaatung paofiut ȧefioae fiunance cost an6 fiunance uncome

Funance comt

Funance uncome

Paofiut ȧefioae ta÷

Ta÷ e÷penme

Paofiut fioa the yeaa

Paofiut fioa the yeaa attauȧutaȧle to:

Non-contaollung unteaemt

Owneam of the paaent

Paofiut fioa the yeaa

Paofiut fioa the yeaa

Item(s) that wull not ȧe classufiue6 suȧsequently to paofiut oa

Remeamuaement of defuned ȧenefut oȧlugatuon

Income ta÷ aelatung to componentm of O"I

Item(s) that may ȧe classufiue6 suȧsequently to paofiut oa

Ünaealumed foaeugn cuaaency taanmlatuon duffeaence

Total compaehensuve uncome fioa the yeaa

Othea compaehensuve uncome, net ofi ta÷ 6ustauȧutuon to:

Non-contaollung unteaemt

Owneam of the paaent

Total compaehensuve uncome fioa the yeaa

Eaanungs Pea Éhaae

Bamuc (Nauaa)

3

100,8C1,201

G3,"85,145

C0,C38,14C

52,41",332

5

(G,5"C,142)

(10,0C2,34C)

(C,1C2,25")

(5,C50,0"")

C1,285,05C

83,"22,"CC

54,4"5,88C

4C,"C",255

C

(15,13",G5G)

(14,G05,4G4)

(",82G,040)

(C,G31,4G2)

"

(C2G,558)

(542,041)

(4"5,14G)

(504,521)

8

10",808

41,4C1

10",808

41,4C1

(C,3CC,053)

183,5"3

(C,510,8"8)

(2,CC8,413)

C

2,3"",31G

1,32G,"52

1,8"2,C2"

1,05G,052

("5C,C3C)

"1,C3C,C1C

CC,0"3,414

41,C41,25C

3","C3,342

31-Mar-26 31-Mar-25 31-Mar-26 31-Mar-25

N'000 N'000 N'000 N'000

10

(",525,510)

(10,52C,218)

(C,15G,C"2)

(G,210,0C2)

10.1

5,133,382

5G,134

3,0G",3"2

1,034,238

12

CC,244,488

(1G,G8",11G)

58,C0C,330

(11,028,4"0)

38,5"8,C55

(11,2G8,5G1)

2C,58",518

(G,"08,028)

-

4G,25",3CG

4",5"",8C0

2",280,3C4

1G,8"G,4G0

4C,25",3CC

4",5"",8C0

2",280,3C4

1C,8"C,4C0

4C,25",3CC

4",5"",8C0

2",280,3C4

1C,8"C,4C0

(14,C38,058)

-

-

-

-

-

-

-

-

-

34,31C,311

4",5"",8C0

2",280,3C4

1C,8"C,4C0

42

48

23

20

PREÉ"O PL"

UNAUDIED INERIM CONfiOLIDA

FOR E REE MON fi ENDED 31 MARC

Étatement ofi fiunancual posutuon

"aoup

"ompany

31-Mar-26

31 Dec. 2025

31-Mar-26

31 Dec. 2025

Notem

N'000

N'000

N'000

N'000

Assets:

Non-cuaaent assets

"oodwull

15.2

5G,314,408

5G,314,408

-

Intanguȧle ammetm

34,0GC

44,3G2

G,241

G,CC2

Paopeaty, plant and equupment

14

38G,G8C,4"8

38C,C"4,4C2

144,CC3,"C"

133,0"",545

Invemtment un muȧmuduaauem

15

-

-

28G,1"5,53"

28G,1"5,53"

Total non-cuaaent assets

44C,334,C82

44C,033,2C2

433,848,545

422,2C2,"44

"uaaent assets

Inventoauem

1C

58,8GG,50G

40,0"8,518

24,310,285

13,80G,C28

Buologucal ammetm

1G

124,G81,"G5

128,341,304

C2,8CG,5"5

C2,8CG,5"C

Taade and othea aeceuvaȧlem

1"

32,C25,2GG

48,G"G,GC2

41,403,3G"

42,2C",420

"amh and camh equuvalentm

18

13C,540,021

2C2,5"5,42C

"4,0GC,021

222,C85,02"

Total cuaaent assets

353,04C,C24

4"C,C"5,210

202,C"C,2"8

341,C31,C51

Total assets

802,381,C0C

C2C,008,4"2

C3C,52",823

"C3,8C4,3C5

Equuty an6 Luaȧulutues

Equuty

Shaae caputal

20

583,333

583,333

583,333

583,333

Shaae paemuum

235,8G5,100

235,8G5,100

235,8G5,100

235,8G5,100

Othea aemeavem

(1C,C5",302)

(1C,C5",302)

(1,230,C45)

(1,230,C45)

Foaeugn E÷change aemeavem

31,G0C,85G

4C,844,G1"

-

-

Retauned eaanungm

225,340,"C5

1"C,083,3G8

14G,1C4,G5"

121,884,5G3

Equuty attauȧutaȧle to owneas

4"",0C8,"55

442,"4C,44C

384,412,"45

35",132,381

Non-"ontaollung Inteaemtm

-

Total equuty

4"",0C8,"55

442,"4C,44C

384,412,"45

35",132,381

Non-cuaaent luaȧulutues

Boaaowungm

22

123,0G5,"4"

2GG,G"0,53"

111,"58,2C2

28G,4G1,103

Defuned ȧenefut oȧlugatuonm

5,GC1,C41

C,1"1,"45

1,""",52C

1,5G0,C08

Defeaaed ta÷ luaȧulutuem

5",0"3,131

5","01,8C1

31,144,250

30,811,G3G

Defeaaed uncome

2,144,CG1

2,144,CG1

210,C"8

35G,853

Leame luaȧulutuem

2,10C,818

2,243,5C1

C08,G45

C08,G45

Total non-cuaaent luaȧulutues

1C0,382,028

3C8,232,3C5

145,4CC,CC1

322,8C2,448

"uaaent luaȧulutues

Taade and othea payaȧlem

23

C8,0G",C08

C2,21",24C

58,4G0,G88

44,C"0,383

"uaaent ta÷ luaȧulutuem

50,511,4C3

32,548,58G

3C,224,C4"

25,258,3C"

Bank oveadaaft

-

11C,"21

-

-

Boaaowungm

22

13,531,110

1",32C,CC3

10,4G8,"12

12,843,"48

Defuned ȧenefut oȧlugatuonm

1,G82,"88

2,052,CC"

1,18",0CC

1,0C2,23G

Defeaaed uncome

C"G,GC1

C"G,GC1

14G,1"5

-

Leame luaȧulutuem

12",8G3

84,"84

C4,82G

C4,82G

Total cuaaent luaȧulutues

134,C30,823

115,02C,C31

10C,C15,41"

83,8CC,5CC

325,312,851

483,25C,02C

252,115,0""

40C,"C2,014

802,381,C0C

C2C,008,4"2

C3C,52",823

"C3,8C4,3C5

UNAUDI

FOR E REE MON fi ENDED 31 MARC

Éhaae "aputal

Éhaae Paemuum

Retaune6 Eaanungs

Othea Reseaves

`E÷change e÷change

taanslatuon aeseaves

Attauȧutaȧle to owneas

ofi the paaent

Non - "ontaollung

unteaest

Total

N'000

N'000

N'000

N'000

N'000

N'000

N'000

N'000

583,333

235,8C5,100

1"C,083,3C8

(1C,C5",302)

4C,844,C1"

442,"4C,44C

442,"4C,44C

- - - -

- - - -

4C,25",3C" - - 4C,25",3C" 4C,25",3C"

- - -

- (14,G38,058) (14,C38,058) (14,G38,058)

- - 4C,25",3C" - (14,C38,058) 34,31C,30C - 34,31C,30C

- - -

583,333 235,8C5,100 225,340,"C5 (1C,C5",302) 31,C0C,85C 4"",0C8,"55 - 4"",0C8,"55

Balance as at 1 Ēanuaay 202C

Taansactuons wuth owneas ofi the "ompany

- Immue of Oadunaay Shaaem

"hange un Owneashup Inteaest

- Acquumutuon of N"I un "OPD"

Total "ompaehensuve uncome fioa the peauo6

- Paofut foa the yeaa

Othea compaehensuve uncome

Net aemeamuaement lomm on defuned ȧenefut

Foaeugn e÷change faom taanmlatuon

Total "ompaehensuve Income

Duvudend - Funal

Balance as at 31 Maach 202C

Éhaae "aputal

Éhaae Paemuum

Retaune6 Eaanungs

Othea Reseaves

`E÷change e÷change

taanslatuon aeseaves

Attauȧutaȧle to owneas

ofi the paaent

Non - "ontaollung

unteaest

Total

N'000

N'000

N'000

N'000

N'000

N'000

N'000

N'000

500,000 1,1"3,528 12C,"2C,311 (1,358,01C) C,3C4,235 133,43C,055 "8,32C,828 211,"C8,883

(2,050,588) (2,050,588) (2,050,588)

- -

- - ("8,32C,828) ("8,32C,828)

4",5"",8C0 - - 4",5"",8C0

(2,050,588) -

-

- - - - (2,050,588) (2,050,588)

-

- -

- -

500,000 1,1"3,528 12C,"2C,311 (1,358,01C) 4,343,C4" 131,388,4C" 131,388,4C"

Balance as at 1 Ēanuaay 2025

Taansactuons wuth owneas ofi the "ompany

Foaeugn e÷change taanslatuon 6ufifieaence

- Immue of Oadunaay Shaaem

"hange un Owneashup Inteaest

- Acquumutuon of N"I un "OPD"

- Paofut foa the yeaa

Othea compaehensuve uncome

Net aemeamuaement lomm on defuned ȧenefut

plan

Foaeugn e÷change faom taanmlatuon

Total "ompaehensuve Income

Net ammetm faom "OPD"

Duvudend - "OPD"

Duvudend - Funal

583,333

235,8C5,100

121,884,5C3

(1,230,C45)

-

35",132,381

35",132,381

-

-

2",280,3C4

2",280,3C4

2",280,3C4

-

-

-

-

-

2",280,3C4

-

-

2",280,3C4

2",280,3C4

-

-

-

583,333

235,8C5,100

14C,1C4,C5"

(1,230,C45)

-

384,412,"45

384,412,"45

500,000

1,1"3,528

113,3C",053

(352,118)

114,"18,4C3

114,"18,4C3

-

1C,8"C,4C0

-

1C,8"C,4C0

1C,8"C,4C0

-

-

-

-

-

C3,"14,338

500,000

1,1"3,528

133,2"C,543

(352,118)

-

134,5C",C53

1"8,432,801

UNAUDIED INERIM CONfiOLIDA

FOR E REE MON fi ENDED 31 MARC

Étatement ofi cash filows

"aoup

31-Mar-26

31-Mar-25

Note

N'000

N'000

"ompany

31-Mar-26

31-Mar-25

N'000

N'000

Opeaatung actuvutues:

Paofut ȧefoae ta÷

(10",808)

1,10",8"3

421

C,15G,C"2

182,238

(3,0G",3"2)

41,4C1

GC3,C"0

420

G,210,0C2

(10",808)

3,0G0,108

G,G21

",525,510

(11,5G0,41C)

(5,133,382)

41,4C1

2,482,C25

8,203

10,52C,218

A6justments fioa:

Lomm on male of paopeaty plant and equupment

Depaecuatuon of paopeaty, plant and equupment

Amoatuzatuon of untanguȧle ammetm

Funance comt

Ünaealumed foaeugn e÷change gaun

Funance uncome

Lomm on non-monetaay pomutuon

E÷change lomm/(gaun)

E÷pected caedut lomm / Ÿaute-ȧack

(5G,134)

"5C,C3C

183,5"8

(2"1,131)

C2,"C",288

Movement un woakung caputal:

Incaeame un taade and othea aeceuvaȧle

Decaeame / (Incaeame) un unventoauem

Incaeame un taade and othea payaȧlem

- Incaeame un employee ȧenefutm

"ash geneaate6 un opeaatung actuvutues

Benefutm paud

Ta÷ paud

Net cash geneaate6 un opeaatung actuvutues

14,CG1,"1"

(18,820,GG1)

5,880,3C2

Investung actuvutues:

Acquumutuon of paopeaty, plant and equupment

Paoceedm faom male of paopeaty, plant and equupment

Invemtment un muȧmuduaauem

Inteaemt aeceuved

Net cash use6 un unvestung actuvutues

(C,402,124)

10",808

Funancung actuvutues:

Inteaemt payment

New loan acquuaed

Loan aepayment

Net movement on leame luaȧulutuem

Repayment of leame luaȧulutuem

Net cash use6 un / geneaate6 fiaom fiunancung actuvutues

(8,038,G0G)

(255,34G)

(1"","8C,302)

(10,52C,218)

102,30C,85G

(1,3"G,123)

25,104

-

58,381

(18",45C,C83)

C1,805,"45

(18C,421,"C0)

C",384,0C0

Net 6ecaease un "ash an6 cash equuvalents

Impact ofi fioaeugn e÷change 6ufifieaence

"ash an6 cash equuvalents as at ȧegunnung ofi yeaa

(1,034,238)

-

(2,CC8,413)

(248,"11)

42,5"5,2CC

1,42C,4C4

(10,500,C5")

13,820,C05

(1,"31,2CC)

(1C,0"5,382)

(C,"0C,10G)

11,58","22

"4C,84G

4",321,C81

-

-

4",321,C81

(12,CG4,0"")

10",808

(12,321,0"4)

-

(1"4,100,"1C)

(G,210,0C2)

10C,535,"42

5,133,382

(1,1C0,C34)

5G,134

(2,"40,82")

3,0G",3"2

(C,488,8C")

(G2,0G4,G4C)

1,034,238

(C2,528,C03)

(125,G18,C84)

-2C2,458,"05

42,302,488

(183,5"8) 28,484,08G

(148,58G,005)

222,C85,02"

1",1G0,028

2,CC8,413

25,354,481

"ash an6 "ash Equuvalents at en6 ofi yeaa

13C,540,021

"0,C02,CCC

"4,0CC,021

45,212,C22

The accompanyung notem foam an untegaal paat of theme funancual mtatementm

2.1 Basus ofi paepaaatuon

u) "ompluance wuth IFRÉ

The unauduted unteaum conmoludated and mepaaate funancual mtatementm have ȧeen paepaaed un accoadance wuth IAS 34 Inteaum Funancual Repoatung and undea the humtoaucal comt conventuon, e÷cept foa the aevaluatuon of ȧuologucal ammetm. They do not unclude all dumclomuaem that would otheawume ȧe aequuaed un a complete met of funancual mtatementm and mhould ȧe aead un conjunctuon wuth the 2024 annual aepoat. The funancual mtatementm weae paepaaed on a goung concean ȧamum.

Notes to the unau6ute6 unteaum consolu6ate6 an6 sepaaate fiunancual statements

fioa the thaee months en6e6 31 Maach 202C

Tumung ofi aevenue aecognutuon

-At a pount un tume

-Ovea tume

100,8C1,201

G3,"85,145

C0,C38,14C

52,41",332

100,8C1,201

C3,"85,145

C0,C38,14C

52,41",332

4

Éeasonaluty ofi opeaatuons

Due to the meamonal natuae of utm opeaatuonm, the "ompany accumulatem unventoay duaung peak paoductuon peauodm to muppoat

antucupated cumtomea demand duaung muȧmequent lean meamonm and to mauntaun contunuuty of mupply.

C

A6munustaatuve e÷penses

"leaaung and handlung

"G0,1"C

4","32

5C1,254

4","32

Offuce and houmung e÷penmem

1"","33

5"8,G05

1"0,C32

25","4C

Rent and aate

"8,G50

3G,4C5

",21"

3G,4C5

Repauam and mauntenance (admun)

544,420

1,015,338

201,228

4C4,G1C

"aatuuty e÷penme

-

",18G

-

",18G

Pomtage and telephone

112,431

8C,48"

1C,415

1",432

Inmuaance

"05,881

458,"5G

321,"C8

2G1,582

Legal feem

G5,8"8

33G,C50

G5,8"8

48,432

Audut

12G,330

131,032

5G,020

4C,1GC

Paofemmuonal and othea conmultancy feem

511,G24

288,G3C

122,C80

25",CC5

Suȧmcauptuon and lucenmem

458,CG2

1G3,"3G

"3,1"G

54,0"2

Ÿoakeam Taanmpoat and taavellung

2,341,251

2,1C2,435

1,C4",011

1,514,5"2

Management Feem

1,G42,3G"

2,C"3,0G0

1,520,5G0

1,1C4,083

Secuauty

5C0,G8C

385,848

228,2C8

202,3GG

"ommunuty development Paojectm

133,"51

110,251

4G,40C

108,851

Meetung and Enteataunment

2,""1

G,2G8

""0

1,G00

Duaectoam feem

183,"10

85,3"0

84,0"5

CG,320

Staff comtm

5,"8G,5G4

5,32",13"

2,42C,C03

1,838,5"0

Depaecuatuon of paopeaty, plant and equupment

42G,102

3"2,3G4

221,5"5

1G2,"34

Amoatuzatuon of Intanguȧle ammet

G,G00

8,203

420

420

Bank "haagem

40,33G

358,005

1","1C

214,CC4

Othea e÷penmem/(uncome)

G8,"43

22C,231

3,33C

G1,550

15,13",C5C

14,C05,4C4

",82C,040

C,C31,4C2

3

Revenue

Dusaggaegatuon ofi aevenue

"aoup

"ompany

Thaee months en6e6 31 Maach Thaee months en6e6 31 Maach

202C

2025

202C

2025

N'000

N'000

N'000

N'000

G5,"GC,850

G3,"85,145

55,5"5,325

52,41",332

122,085

-

120,555

-

4,G42,2CC

4,G42,2CC

100,8C1,201

C3,"85,145

C0,C38,14C

52,41",332

Revenue fiaom contaact wuth customeas

-Salem of caude and aefuned paoductm

-Mull ȧy-paoductm

-Salem of Faemh Fauut Bunchem (FFB)

"eogaaphucal maaket

-Nugeaua (place of domucule)

-"hana

84,3"3,5CC

"4,50G,100

1C,48",C32

1G,2"C,045

C0,C38,14C

52,41",332

5

"ost ofi Éales

"aoup

"ompany

Thaee months en6e6 31 Maach

Thaee months en6e6 31 Maach

202C

2025

202C

2025

N'000

N'000

N'000

N'000

153,145

2,111,0"0

-

2,C34,3GC

C,403,C"C

5,4G2,241

5,025,158

1,8G5,G3C

2,CC2,2"3

2,110,22C

88C,2G8

""0,G3C

35",048

348,80G

250,801

348,80G

C,5"C,142

10,0C2,34C

C,1C2,25"

5,C50,0""

Raw mateaualm conmumed

Paoductuon "omt

Depaecuatuon of paopeaty, plant and equupment

Repauam and mauntenance

Notes to the unau6ute6 unteaum consolu6ate6 an6 sepaaate fiunancual statements

fioa the thaee months en6e6 31 Maach 202C

C

Othea opeaatung uncome/(losses)

Luvemtock malem

Mumcellaneoum opeaatung Income

10,"14

25,"2"

-

24,304

2,3CC,C05

1,304,025

1,8"2,C2"

1,034,"48

2,3"",31C

1,32C,"52

1,8"2,C2"

1,05C,052

10

Funance cost

Inteaemt on loan and oveadaaft

Leame unteaemt

",525,510

10,4"8,540

C,15G,C"2

G,210,0C2

-

4",C"8

-

-

",525,510

10,52C,218

C,15C,C"2

C,210,0C2

10.1

Funance Income

Loan Income

Income on fu÷ed depomut

GGG,44C

- 4GG,"23 G"5,103

4,133,G3C

5G,134 2,5G",C4G 5G,134

5,133,382

5C,134 3,0C",3"2 1,034,238

11

Ünusual utems

Theae weae no unumual utemm am at the end of Maach 202C (Maach 2025: Nul)

12

Income ta÷

"uaaent Income ta÷

Educatuon ta÷

"aoup

"ompany

Thaee months en6e6 31 Maach Thaee months en6e6 31 Maach

202C

2025

202C

2025

5"8,318

48","33

44G,G2G

483,444

51,240

54,308

25,220

21,0""

C2C,558

542,041

4"5,14C

504,521

"

Éellung an6 6ustauȧutuon e÷penses

Funumhed paoductm (Road taanmpoat)

Sellung e÷penmem

8

Othea gauns/(losses)

"oveanment gaantm

"aun on dumpomal of Fu÷ed Ammetm

-

- - -

10",808

41,4C1 10",808 41,4C1

10",808

41,4C1 10",808 41,4C1

"aoup "ompany

Thaee months en6e6 31 Maach Thaee months en6e6 31 Maach

202C

2025 202C 2025

N'000

N'000 N'000 N'000

1","C3,"35

C,3"4,3C8 C,CCC,345 8,053,C5C

1,8C1,0"3

G04,0"2 GGC,G35 G04,0"2

1C,C54,808

10,2"8,4"0 10,CCC,280 8,C58,028

332,311

"50,000 332,311 "50,000

1C,C8",11C

11,028,4"0 11,2C8,5C1 C,"08,028

Notes to the unau6ute6 unteaum consolu6ate6 an6 sepaaate fiunancual statements

fioa the thaee months en6e6 31 Maach 202C

13

EARNIN" PER ÉHARE

Bamuc eaanungm pea mhaae um deauved ȧy duvudung paofut oa lomm attauȧutaȧle to the oadunaay equuty holdeam ȧy numȧea of oadunaay mhaaem outmtandung duaung the

peauod.

"aoup

Thaee months en6e6 31 Maach

202C

2025

N'000

N'000

4G,25",3CG

4",5"",8C0

Net paofut attauȧutaȧle to equuty holdeam of the "ompany

Effect of dulutuve potentual oadunaay mhaaem:

4C,25",3CC

4",5"",8C0

2",280,3C4 1C,8"C,4C0

1,1CC,CC"

1,000,000

42.22

4".58

23.38

1G.88

14

PROPERTIEÉ PLANT AND EQÜIPMENTÉ

(a)

Duaung the thaee monthm ended 31 Maach 202C, the "aoup acquuaed Paopeaty, Plant & Equupment at a

comt of N"N C.4 ȧulluon whule that of the company wam N12." ȧulluon

(a)

Impauament of Ammetm

Ÿuthun the peauod undea aevuew, none wam umpauaed and theae weae no aeveamalm of paevuoum umpauament chaagem un the

cuaaent peauod.

15

INVEÉTMENT IN ÉÜBÉIDIARY

Place ofi

uncoapoaatuon

% unteaest

"aaayung amount

Maach

Decemȧea

202C

2025

N'000

N'000

23,000,000

23,000,000

1G5,081,53"

1G5,081,53"

"1,0G4,000

"1,0G4,000

28C,1"5,53"

28C,1"5,53"

31-Maa-2C

31-Dec-25

N"N '000

N"N '000

5G,314,408

5G,314,408

Balance am at Tanuaay 202C

Addutuon duaung the peauod

Balance as at 31 Maach 2025

5C,314,408

5C,314,408

1C

INVENTORIEÉ

"aoup "ompany

Maach

Decemȧea Maach Decemȧea

202C

2025 202C 2025

N'000

N'000 N'000 N'000

34,104,1"5

2G,534,438 15,4GC,G05 8,G"1,""C

24,0C",1""

4,808,"84 8,234,G2C 1,284,133

"28,15"

5,"35,2GC 5"8,454 3,553,"1G

58,8CC,50C

40,0"8,518 24,310,285 13,80C,C28

Suat Nugeaua Lumuted

"hana Oul Palm "ompany Development ("OPD") Lumuted

Saao Oul Palm

Nugeaua

100

"hana

100

Nugeaua

100

15.2

Movement un "oo6wull

1"

TRADE AND OTHER RE"EIVABLEÉ

Am of the end of aepoatung peauod, the analymum of the taade deȧtoam and ȧullm aeceuvaȧlem

(whuch aae uncluded un taade and othea aeceuvaȧlem) ȧamed on unvouce date um am followm:

Suppluem (Spaaem)

Funumhed "oodm

"oodm un taanmut

"aoup

Maach

Decemȧea

202C

2025

N'000

N'000

8,053,121

1G,1G8,GG4

"ompany

Maach

Decemȧea

202C

2025

N'000

N'000

4,CG4,C11

4,"18,4G4

8,053,121

1C,1C8,CC4

4,CC4,C11 4,"18,4C4

Othea aeceuvaȧles

Inteacompany aeceuvaȧle

Othea deȧtoam

Funancual assets measuae6 at amoatuse6 cost

(C84,4C2)

13,241,480

15,G"1,C82

23,212,88"

25,25C,C40

1C,53G,488

20,"3",104

14,33C,03G

32,C25,2CC

48,C"C,CC2

41,403,3C"

42,2C",420

Notes to the unau6ute6 unteaum consolu6ate6 an6 sepaaate fiunancual statements

fioa the thaee months en6e6 31 Maach 202C

18

"AÉH AND "AÉH EQÜIVALENTÉ

"amh and camh equuvalentm un the Statement of Funancual Pomutuon

Bank ovea6aafits

"amh and camh equuvalent un the mtatement of camh flowm

"aoup "ompany

Maach

Decemȧea Maach Decemȧea

202C

2025 202C 2025

N'000

N'000 N'000 N'000

13C,540,021

2C2,5"5,42C "4,0GC,021 222,C85,02"

-

(11C,"21) - -

13C,540,021

2C2,458,"05 "4,0CC,021 222,C85,02"

Analyse6 unto

Non "uaaent

"uaaent

124,G81,"G5

124,C81,"C5

- -

128,341,304 C2,8CG,5"C C2,8CG,5"C

128,341,304 C2,8CC,5"C C2,8CC,5"C

20

"APITAL, REÉERVEÉ AND DIVIDENDÉ

Shaae "aputal

1C

BIOLO"I"AL AÉÉETÉ: A"RI" PRODÜ"E

At faua value

Faemh fauut ȧunchem - 1mt Tanuaay

Effect of unflatuon adjumtment

Effect of Foaeugn e÷change

"hanges un fiaua value less cost to sell

128,341,303

"0,505,131

C2,8CG,5"C

3C,1"C,158

(3,35G,508)

12,4C3,5"3 -

-

45,3"2,C00 - 2C,CG3,418

124,C81,"C5

128,341,304 C2,8CC,5"C C2,8CC,5"C

583,333

583,333

583,333

583,333

Éhaae Paemuum

Shaae Paemuum

235,8G5,100

235,8G5,100

Notes to the unau6ute6 unteaum consolu6ate6 an6 sepaaate fiunancual statements

fioa the thaee months en6e6 31 Maach 202C

21

EMPLOYEE BENEFITÉ

The "ompany opeaatem a defuned contauȧutuon penmuon mcheme un lune wuth the Penmuon Refoam Act of Nugeaua. "ontauȧutuonm aae made at mtatutoay aatem and aecognumed am an e÷penme un the peauod to whuch they aelate.

22

LOANÉ AND BORROYIN"É

Éhoat team ȧoaaowungs

Long team ȧoaaowungs

"aoup

"ompany

Maach

Decemȧea

Maach

Decemȧea

202C

2025

202C

2025

N'000

N'000

N'000

N'000

13,531,110

1",32C,CC3

10,4G8,"12

12,843,"48

123,0G5,"4"

2GG,G"0,53"

111,"58,2C2

28G,4G1,103

13C,C2C,85"

31",2C",200

122,25C,C"4

302,334,851

23

TRADE PAYABLEÉ

(a)

TRADE AND OTHER PAYABLEÉ

Am of the end of aepoatung peauod, the agung analymum of the taade caedutoam and ȧullm payaȧlem

(whuch aae uncluded un taade and othea payaȧlem) ȧamed on unvouce date um am followm:

"aoup

"ompany

Maach

Decemȧea

Maach

Decemȧea

202C

2025

202C

2025

N'000

N'000

N'000

N'000

Taade payaȧlem 13,08","3G

3,3GC,428

11,0GC,"CG

2,318,482

Othea payaȧles

Inteacompany payaȧle

Othea caedutoam

Funancual assets measuae6 at amoatuse6 cost

13,08","3C

3,3CC,428

11,0CC,"CC

2,318,482

8,213,0G5

1C,438,081

",80G,3C5

C,4GC,C"8

4C,"GC,""4

42,382,"3"

3G,584,854

35,855,223

C8,0C",C08

C2,21",24C

58,4C0,C88

44,C"0,383

Notes to the unau6ute6 unteaum consolu6ate6 an6 sepaaate fiunancual statements

fioa the thaee months en6e6 31 Maach 202C

24

FINAN"IAL INÉTRÜMENT - FAIR VALÜE AND RIÉK REPORT

(a)

Accountung classufiucatuons an6 fiaua value

The Duaectoam conmudea that the caaayung amountm of funancual ammetm and funancual luaȧulutuem aecognumed un the funancual mtatementm appao÷umate theua faua value

"aoup

Maach

Decemȧea

202C

2025

N'000

N'000

"ompany

Maach

Decemȧea

202C

2025

N'000

N'000

Funancual Assets

"amh and ȧack ȧalancem

Taade and othea aeceuvaȧlem

13C,540,021

2C2,458,"05 "4,0GC,021 222,C85,02"

32,C25,2GG

48,G"G,GC2 41,403,3G" 42,2C",420

1CG,1C5,320

311,438,CC" 115,4GG,418 G3,0G1,320

Funancual Luaȧulutues

Boaaowungm

Oveadaaft

Taade and othea payaȧlem

Leame luaȧulutuem

13C,C2C,85"

31",2G",200 122,25C,G"4 302,334,851

-

11C,"21 - -

C8,0G",C08

C2,21",24C 58,4G0,G88 44,C"0,383

12",8G3

84,"84 C4,82G C4,82G

204,852,358

3"G,"15,G51 180,812,"G0 34",0"0,0C3

25.1

FREE FLOAT "OMPÜTATION

Boaad Lumted: Maun Boaad

Yeaa End: Decemȧea

Repoatung Peauod: Peauod ended Maach 202C

Share price at end of reporting period: ₦1,G80.00(Decemȧer 2025: ₦1,450.00)

25.2

Éhaaehol6ung Étauctuae/Faee Float Étatus

31-Maa-2C

Ünut

Peacentage

1,1CC,CCC,CC"

100%

31-Dec-25

Ünut

Peacentage

1,1CC,CCC,CC"

100%

Duaectoas' Éhaaehol6ungs (6uaect an6 un6uaect), e÷clu6ung 6uaectoas' hol6ung suȧstantual unteaests

Name(m) of Duaectoam

Ünut

Peacentage

Ma. Ramheed Saaumu

-

-

Ma. Felu÷ O. Nwaȧuko F"A

Amȧ. Nonye Üdo

-

-

Mam. Ingaud Ÿandewuele (Belguan)

-

-

Ma. Aȧdul Bello

G0,000

0.00""1%

Ma. Reju "eoage

-

-

Mam. Iquo Ükoh

-

-

Mam. Omayu Alule

-

-

Ma. Tan Ÿan Eykeaen (Dutch)

-

-

Total Duaectoam' Shaaeholdungm

451,"00

0.038"2%

Othea unfiluentual shaaehol6ungs

Total Othea unfluentual mhaaeholdungm

-

-

Faee Float un Ünuts an6 Peacentage

3G2,2G5,0C1

33.C252G%

Faee Float un Value (N"N)

""C,"44,220,"80

Ünut

Peacentage

-

-

3C1,"00

0.03100%

-

-

-

-

G0,000.00

0.00""1%

-

-

-

-

-

-

-

-

451,"00

0.038"2%

Éuȧstantual Éhaaehol6ungs (5% an6 aȧove)

Namem of Shaaeholdeam

SIAT

20450 ZP"/SIPML RSA Fund Iu-Maun A/"

Total muȧmtantual mhaaeholdungm

"14,05C,881

C1%

5G,""3,025

5.12%

""3,82C,C0C

CC.33%

"14,05C,881

C1%

5G,""3,025

5.12%

""3,82C,C0C

CC.33%

-

-

3G1,G33,3C1

33.5G42G%

5C8,303,3"3,450

Declaaatuon:

Paemco Plc wuth a faee float peacentage of 33.C3% am at Maach 31, 202C um compluant wuth The E÷change'm faee float aequuaementm

foa companuem lumted on the Maun Boaad.

Paemco Plc wuth a faee float value of value of N ""C,"44,220,"80.00 am at Maach 31, 202C um compluant wuth The E÷change'm faee float

aequuaementm foa companuem lumted on the Maun Boaad.

Éecuautues Taa6ung Polucy

In compluance wuth Rule1".15 Dumclomuae of Dealungm un Immueam' Shaaem, Ruleȧook of the E÷change 2015 (Immueam Rule) Paemco Plc

mauntaunm a Secuauty Taadung Polucy whuch guudem Duaectoam, Audut "ommuttee memȧeam, employeem and all unduvudualm categoauzed

am unmudeam am to theua dealungm un the "ompany'm mhaaem. The Polucy undeagoem peauoduc aevuewm ȧy the Boaad and um updated

accoadungly. The "ompany ham made mpecufuc unquuauem of all utm Duaectoam and othea unmudeam and um not awaae of any unfaungement

of the polucy duaung the peauod undea aevuew.

Notes to the unau6ute6 unteaum consolu6ate6 an6 sepaaate fiunancual statements

fioa the thaee months en6e6 31 Maach 202C

2C

ÉI"NIFI"ANT EVENTÉ AFTER THE END OF THE REPORTIN" PERIOD

2"

APPROVAL OF FINAN"IAL ÉTATEMENTÉ