ITF

38 2024 ITF Annual Report and Financial Statements Notes Notes (continued, forming part of the financial statements) 40. Subsequent events On 20 March 2025, the ITF announced the resigna on of its Chief Execu ve Officer, Kelly Fairweather. The resigna on will take effect at the end of August 2025. The Board of Directors has ini ated a search for a new CEO. This event does not impact the financial posi on or results of opera ons for the period ended 31 December 2024. The dilapida ons provision has been maintained at the prior year level on expected terms of the new lease, but remains a non-current liability at the balance sheet date as it is deemed virtually certain that a new lease will be agreed. As the terms of a new lease have not been agreed, there is no right-of-use asset or lease liability in the financial statements at the end of 2024. Kosmos and the ITF have reached an amicable resolu on regarding their previous contractual disagreements related to the organisa on of the Davis Cup. As a result, the con ngent liability associated with these disagreements is no longer required to be disclosed in the financial statements. In March 2025 ITF was made aware of being named in court documents filed by the PTPA. The ITF is in the process of responding to those claims. 41. Related par es The ITF is a member organisa on and undertakes rou ne transac ons every year with its members such as subscrip on income and prize money payments for team compe ons. Where the group enters into a transac on with a member organisa on which is not rou ne it shall be disclosed separately in the financial statements. No non-rou ne member organisa on transac ons arose during the year. 42. Liabili es from financing ac vi es Leases $000 Net debt as at 1 January 2023 (71) Cash flows 75 Interest expense (2) Foreign exchange movements (2) Net debt as at 31 December 2023 0 Net debt as at 1 January 2024 0 Cash flows 0 Interest expense 0 Foreign exchange movements 0 Net debt as at 31 December 2024 0

• Cover