J.A. PHILLIPS HOLDINGS LIMITEDActive

The directors present their Strategic Report on the Company and the Group for the year ended 31 December 2024. Business Review The Company's principal activity is that of a holding and management company. The Company owns freehold properties which are used by its subsidiaries for the purpose of carrying out its business. The Company holds shares in the following companies: i) Regal Brand Management Limited ii) The Old Rectory Property Company Limited iii) RBM GmbH iv) RBM Residual Brand Management GmbH v) Residual Brand Management Espana SL vi) RBM Polska SP. Z.O.O. vii) RBM Nederland B.V. viii) R&BM USA LLC Details with regard to the above subsidiaries are set out in note 14. The principal activity of most of the Company's subsidiaries during the year was the wholesale of fast moving consumer goods. The Group specialises and has many years' experience in the secure and discreet distribution of remnant and non-performing inventory to secondary markets in Europe. It works with multinational Fast-Moving Consumer Goods (FMCG) manufacturers distributing major brands. The Group has diversified by investing in a property company, whose main activity is renting, buying and selling of property.

As described in the company's latest filed accounts.