Quarter 2 - financial statement for 2026

NOTE

Jun-26

835,632,958

1,290,870,891

(545,731,915)

(827,086,091)

289,901,044

463,784,799

Other Income

2

128,162,019

234,718,299

Distribution costs

3

10,341,505

(3,279,624)

Write-Backs

4

-

77,450,237

(415,526,925)

(747,362,510)

12,877,642

25,311,201

Finance Costs

5

(1,261,475)

58,386,376

45,110,214

83,697,577

Taxation

Profit/Loss after Taxation transferred

to Revenue Reserve

7

1 1

7

1 1

STATEMENT OF CASH FLOW

FOR THE PERIOD ENDED 30TH JUNE 2026

Jun-26

N

Dec-25

N

Cash received from customers

901,881,835

Cash paid to suppliers and employees

(835,425,167)

Tax paid

(9,279,546)

(3,445,048)

Net cash (used in)/generated from operating activitie

57,177,122 749,734,212

Interest Received

33,494,048

Short Term Deposit

(1,145,877,628)

Investment in Subsidiaries

(1,485,509,677)

Purchase of property, plant and equipment

(9,320,255)

Net cash used in investing activities

(2,591,493,512) (8,223,878,345)

Repayments of borrowings

(4,112,478)

Increase in Share premium

-

Equity Injection/Deposit for Shares

-

Lease Payable

2,200,000,000

Interest paid

-

NET INCREASE/(DECREASE) IN

CASH & CASH EQUIVALENTS

126,601,547

640,000,000

7,100,000,000

(27,015,291)

Net cash provided by financing activities

2,195,887,522

7,429,644,952

(44,499,182)

Cash & Cash Equivalents at beginning of the year

192,388,097

236,887,280

Cash & Cash Equivalents at end of the period

318,989,643

192,388,098

REPRESENTED BY:-

Cash at Bank and in Hand

318,989,643 192,388,097

Bank Overdraft

- -

Cash & Cash Equivalents

318,989,643 192,388,097

Investment In Taintainment Ltd

18

9,017,776,073

7,595,7e7,zsa

Investment In Fisheries Ltd

18

28 12 5

164,682,515

CURRENT ASSETS

9,245,989,488

7,760,479,811

Inventories

7

114,779,663

92,909,859

Trade and other receivables

8

273,441,570

20s,5e6,261

Short Term Deposit

1,145,877,628

465,030,414

Cash and Bank equivalents

9

318,989,643

192,388,097

1,853,088,504

956,924,632

TOTAL ASSETS

15,741"154",455

13,395,133,610

EQUITY & LIABILITIES

EQUITY

Share Capital

13

2,500,000,000

2,500,000,000

Share Premium

14

2,249,914,606

2,249,914,606

Deposit for Share

640,000,OOO

640,000,000

Revaluation reserve

3,775,105,577

3,775,105,577

Revenue Reserve

15

(4,400,328,075)

(4,44S,438,289}

4,764,693,108

4,719,581,894

NON CURRENT LIABILITIES

Provisions and deferred income

70,668,166

57,530,409

Borrowings

Term loans/Finance Leases

12

11,512,874

15,625,352

82,181,040

73,155,762

CURRENT LIABILITIES

Trade and other payables

10

1,053,660,410

962,136,017

Provisions and deferred income

11

465,087,36B

455,446,863

Lease payables Borrowings Overdrafts

Term loans/Finance leases

IIA

9,300,000,000

7, i0O,000,000

Taxation

6

75,533,528

84,813,074

10,894,281,306

8,602,395,954

TOTAL EQUITY & UABILITIES

g 15,741,154,455

g13""395,133,610

air Bamldala Qke

FRC/2026/PRO/DIR/003/361580

FRC/204/lCAN/00000007259

RESTAURANT

FURNITURE &

EQUIPMENT

OFFICE

FURNITURE &

EQUIPMENT

PLANT &

MACHINERY

MOTOR

VEHICLES

SOFTWARE

EQUIPMENT

T O T A L

N

N

PROPERTY, PLANT AND EQUIPMENT

At 1st January 2026

ASSET UNDER

LAND

BUILDING

CONSTRUCTION

N

N

N

N

N

N

N

Additions during the period

588,000

-

2,989,255

2,299,000

3,444,000

Reclassification

Revaluation

0

Disposal during the period

(20,604,576)

(2,058,175)

(6,257,115)

(28,919,866)

COST

As at 1st January 2026

3,890,000,000

1,684,373,613

0

1,604,689,722

283,057,731

717,233,445

299,718,815

297,092,678

8,776,166,004

9,320,255

0

-

3,890,000,000

1,664,357,037 0 1,605,620,802 285,356,731 714,420,331 299,718,815 297,092,678 8,756,566,393

DEPRECIATION

As At 1st January 2026

-

1,214,877,817

-

1,542,253,219

273,891,865

692,330,066

287,945,883

171,311,854

4,182,610,704

5,853,345

36,416,528

0

1,213,335,000

-

1,545,044,560

275,333,037 693,513,621 289,340,214 177,165,199 4,193,731,630

NET BOOK VALUE AS

As At 30th June 2026

3,890,000,000

451,022,037 0 60,576,242 10,023,694 20,906,709 10,378,601 119,927,479

4,562,834,762.57

YTD

YTD

1

SYSTEM REVENUE

Jun-26

Jun-25

N

N

COMPANY OWNED OUTLET SALES

864,880,112

641,988,981

1,015,294,045

1,880,174,157

753,639,238

1,395,628,219

At 1st January 2026

OTHER INCOME

Jun-26

N

66,709,513

526,000

46,725,026

14,201,480

128,162,019

Jun-25

N

47,926,418

571,000

44,979,959

1,500,000

94,977,377

Rent income

Other income

Franchise Income

Profit on disposal of fixed assets

3

DISTRIBUTION COST

Advertising/promotions

2% Franchisees contribution

E-commerce service charge

Sample products

Product development

Staff competition incentives

1,071,704

(11,621,809)

-

208,600

0

0

-10,341,505

Jun-26

Jun-25

N

-

27,061,641

0

0 27,061,641

4

WRITE-BACKS/PROVISIONS NO LONGER REQUIRED

is arrived at after charging/(crediting)

Directors' emoluments:

Fees

Other emoluments

Depreciation

Auditors' Remuneration

(Profit)/Loss on sale of fixed assets

5

This comprises of

Interest on Term Loan

Interest income

Other Charges (COT etc)

TAXATION

Per Profit and loss acount

Income Tax Provision

Education Tax

Capital Gain Tax

Per Statement of Financial Position

As at the beginning of the year

Tax Charge

3,350,000

53,400,000

36,416,528

2,500,000

14,201,480

3,350,000

53,400,000

33,310,956

2,500,000

1,500,000

Jun-26

N

Jun-26

N

0

(33,494,048)

1,261,475

-

-

77,297,219

-

77,297,219

(2,364,526)

74,932,693

84,813,074

-

84,813,074

Payment During the year

WHT Credit Notes Utilised during the Year

7

INVENTORIES

Jun-26

N

97,176,142

3,127,650

4,383,308

2,835,535

4,238,400

0

692,723

105,396

2,220,510

114,779,663

Dec-25

N

77,909,206

1,927,650

3,491,908

0

4,238,400

0

495,923

47,263

4,799,511

92,909,859

Raw Materials & Finished Products

Printing & Stationery

Engineering, kitchen & Staff uniform

Packaging Materials

Gift cards

Work-in-Progress

Marketing Stores

Cleaning Materials

Gas & Diesel

8

TRADE AND OTHER RECEIVABLES

CURRENT

Trade Receivables

Group Escrow Account

Rent prepaid

Amortization

Prepayment

Witholding Tax Receiveable

Staff Debtors

99,168,570

34,960,292

13,321,248

97,846,313

841,667

15,884,972

11,418,508

55,779,269

54,750,000

13,321,248

62,156,780

2,016,667

15,533,437

3,038,860

9

CASH AND CASH EQUIVALENTS

Cash Balances

Bank Balances

Jun-26

N

Dec-25

N

11,629,908

5,055,389

307,359,735

187,332,708

Cash & Cash equivalents

318,989,643

192,388,097

Bank Overdrafts

-

-

Cash and cash equivalents

in cashflow statement 318,989,643

192,388,097

10

TRADE AND OTHER PAYABLES

Jun-26

N

32,799,299

1,020,861,111

Dec-25

N

46,899,029

915,236,988

Trade Creditors

Other payables

The company's policy on payment of creditors is to agree terms of payment prior to commencing trade

with a supplier and to abide by those terms on the timely submission of invoices and other required

confirmation of supply documents.

11

PROVISIONS AND DEFERRED INCOME

Jun-26

N

Dec-25

N

Deferred income

Retro-Franchise Deposits

Current

Provisions & Accruals

Provision for Directors fee

Directors Loan

Retro-Franchise Deposits

Deposit on Rent

269,031,119

90,370,000

55,000,000

3,028,500

47,657,750

465,087,369

254,390,613

95,370,000

55,000,000

3,028,500

47,657,750

455,446,863

LEASE PAYABLES

Grand Media Project Ltd

Hontar Projects

Infra Bridge Ltd

RGM Matrix Materials Solution

Asset Matrix Microfinance Bank Ltd

Rickgreen Master Invest. Ltd

3,500,000,000

3,600,000,000

3,500,000,000

3,600,000,000

200,000,000

1,000,000,000

500,000,000

500,000,000

9,300,000,000

Jun-26

N

Dec-25

N

12

Non - Current Secured Loans

Eco-Bank Plc Restructured Loan due year 2031

BFX LTD (FIN COY)

0

11,512,874

11,512,874

0

15,625,352

15,625,352

Jun-26

Dec-25

0

0

13

SHARE CAPITAL

Jun-26

Dec-25

N

N

1. Authorised:

5,000,000,000 Ordinary Shares of 50k each

2,500,000,000

2,500,000,000

N

N

2,500,000,000

2,500,000,000

13b

TANTALIZERS PLC

FREE FLOAT STATUS AS AT 31ST DECEMEBR 2025 (30%)

ACCT NO

NAME

ADDRESS

PERCENT

TOTAL HOLDING

11020

GOLDEN ANKS INTEGRATED S

2ND FLOOR MIKAY

14

686,452,253.00

16684

SIAKPERE OMOEFE

110 EFFURUNSAP

1

50,000,000.00

14564

DOTONI INTEGRATED SERVIC

751A BABATUNDE

5

250,000,000.00

15750

OKUMBOR EWERE LUCKY

17A CHIEF AUGUS

2

109,134,730.00

13580

BANKLINK AFRICA PRIVATE E

15A ABIODUN OLU

12

600,000,000.00

11291

AYENI MOFOLUWASO OLUYEM

P.O.BOX 3608 FES

7

339,660,613.00

12796

FOOD SPECIALTIES & ORGANI

117 MOSHOOD OL

19

946,792,585.00

12739

ADEYERI FOLARANMI ABAYOM

ECOBANK WRPC E

1

50,000,000.00

16611

PILOT SECURITIES LTD PROP

41 SOBO AROBIOD

8

407,712,912.00

27

AYENI GRACE ABOSEDE

MIKAY PLAZA 21R

2

78,153,341.00

SUB TOTAL

70

3,517,906,434.00

FLOATING

30

1,482,093,566.00

100

5,000,000,000.00

NOTE:

30% OF THE SHAREHOLDING IS FLOATING

14

SHARE PREMIUM

This represents the excess of consideration paid over the nominal value of the 1,026,630,526 shares

issued during the private placement offer in year 2008, 261,627,906 shares issued during the

special placement offer in year 2010 and 1,788,372,094 shares issued during private placement offer in year 2025.

15

REVENUE RESERVE

Jun-26

N

Dec-25

N

At 1st January 2026

(4,445,438,289)

(4,518,174,963)

Profit/Loss for the year

45,110,214

72,736,674

Balance Transferred to Balance Sheet

(4,400,328,075)

(4,445,438,289)

16

CHANGES IN EQUITY

Share

Share

Revaluation

Retained

Total

Capital

Premium

Reserve

Deficit

N

N

N

N

N

As at 1st Jan 2025

2,500,000,000

2,249,914,606

3,775,105,577

(4,445,438,289)

4,079,581,893

Profit for the period

45,110,214

45,110,214

-

Movement in revaluation reserve

-

-

2,500,000,000

2,249,914,606

3,775,105,577

(4,400,328,075)

4,124,692,108

17

DEPOSIT FOR SHARES

Jun-26

N

640,000,000

Dec-25

N

640,000,000

Pilot Sec. Ltd

At 1st January 2026

18

INVESTMENT IN SUBSIDIARIES

Investment In Taintainment Ltd

Investment In Tantalizers Fisheries Ltd

Jun-26

%

Dec-25

9,017,776,973

7,595,797,296

228,212,515

164,682,515

9,245,989,488

7,760,479,811