This report was approved by the board of directors on 31 October 2022
and signed on behalf of the board by:

Name: Matthias Kauer
Status: Director

Going Concern:The company’s ultimate parent company, SE Group Limited, appointed administrators on 30 August 2022 following a reduction in sales in the rest of the Group as a result of the Covid-19 pandemic, and the administration of its subsidiary company in Australia, Social Energy Australia pty Ltd. The company has historically relied on Social Energy Limited, a wholly owned subsidiary of SE Group Ltd, for both financial and non-financial support. The directors have considered the impact of the insolvency of SE Group Ltd and taken mitigating actions to reduce operating costs and to secure access to a working capital facility sufficient to meet the company’s cash requirements while financial advisors have been appointed to undertake a sale of the business to a strategic buyer.In assessing the principal risks and uncertainties facing the company after mitigating actions, even though the indicators of a sale are positive, the directors have concluded that material uncertainties remain about the going concern assumption, because:1. the final outcome of sale process is not yet known; and 2. the continued access to working capital is uncertain.However, the directors consider that a sale is, at this moment in time, the likely outcome with non-binding indicative offers having been received from multiple credible potential buyers giving confidence that the process will be successfully concluded. Thus, the directors continue to adopt the going concern basis of accounting in preparing the financial statements.