C&C Denmark A/S

Description of key activities of the companyHumac is Denmark's leading and only Apple Premium Retail Partner in the sale of Apple products. Humac is in the market to ensure that both business customers and end customers have the opportunity to access the widest range within Apple's universe while receiving competent and professional guidance from Apple-trained employees. Our strong foundation is the starting point for Humac to continue spreading the message in the coming years that Apple products are best purchased at Humac.

Development in activities and financial mattersThe gross profit for the year totals DKK 28.753thousand against DKK 37.071 last year. Profit or loss from ordinary activities after tax totals DKK -27.175thousand against DKK -21.046 last year. Management considers the net profit or loss for the year unsatisfactory.

Development for the year relative to the expectationsAs stated in the 2024 Annual Report, the Company expected continued growth and positive development. Activity levels during the year were generally in line with management’s expectations; however, growth was below the level anticipated. This was primarily due to the acquisition by C&C S.p.A. in December 2024 and the implementation of planned synergies taking longer than originally expected.

Going concern…

2.

Uncertainties concerning recognition and measurementThe company has recognized a deferred tax asset of DKK 18.256 thousand in the balance sheet. The company’s management has prepared a financial forecast for the next five years, in which it is expected that the company’s deferred tax assets can be utilized.

The recognition of deferred tax assets is always associated with some uncertainty regarding the fulfillment of expectations for future earnings, which form the basis for the valuation. Therefore, there is an inherent uncertainty in the valuation of the tax asset.

Events occurring after the end of the financial yearAfter the balance sheet date, the company's parent company C&C SPA has entered restructuring proceedings in Italy. Management is assessing the implications for the company's financing and continued operations, as described under going concern above.

No other events have occurred after the balance sheet date to this date, which would influence the evaluation of this annual report.

13.Contractual obligations and contingencies, etc.

Lease liabilities…

12.Charges and securityFor bank loans, the company has provided security in company assets representing a nominal value

of DKK 55.000 thousand.