ITF

5. Summary of significant accounting policies (continued) b) Investment income/expense and gains/losses on investments Investments are valued at fair value, which is determined by reference to quoted market bid prices at the balance sheet date as provided by the investment managers. Gains or losses arising from this valuation are shown in the consolidated income and expenditure statement in accordance with IFRS 9. Interest is recognised in the income statement on an accruals basis, and dividend income is recognised when the ITF's right to receive payment is established. c) Currency translation Assets and liabilities in currencies other than USD$ are translated into USD$ at the appropriate rate of exchange prevailing at the balance sheet date. Income and expenses in such currencies during the year have been translated into USD$ at the rates of exchange prevailing at the dates of the relevant transactions. Exchange differences arising from these translations are recognised in the consolidated income and expenditure statement. Sterling was converted at USD$1.275/GBP£ at 31 December 2025 (USD$1.252/GBP£ at 31 December 2024). In the case of Hopman Cup Pty Ltd, whose activities are recorded in Australian Dollars, income and expenses are converted at the average rate of exchange, USD$0.667/AUD$ (2024 – USD$0.663/AUD$), and its assets and liabilities are converted at the closing rate, USD$0.669/AUD$ (2024 – USD$0.681/AUD$), for consolidation in these financial statements. The resulting exchange differences are recognised through other comprehensive income. d) Intangible assets – research and development Development expenditure that is directly attributable to the design and testing of identifiable and unique software products controlled by the group is recognised in intangible assets when: it is technically feasible to complete the software so that it will be available for use; management intends to complete the software and use or sell it; there is an ability to use or sell the software; it can be demonstrated how the software will generate probable future economic benefits; adequate technical, financial and other resources to complete the development and to use or sell the software are available; and the expenditure attributable to the software during its development can be reliably measured. Directly attributable costs that are capitalised as part of the product include employee costs. Capitalised development costs are recorded as intangible assets and amortised from the point at which the asset is ready for use. The group amortises intangible assets with a limited useful life using the straight-line method over 3 years. Research expenditure and development expenditure that do not meet the criteria above are recognised as an expense. During the year, the group completed an internal reorganisation under common control, which resulted in the legal assignment of certain commercial and intellectual property rights relating to the Billie Jean King Cup to BJKCL IP Holdings Ltd, a wholly owned subsidiary of the ITF Trust. The assigned rights comprise trademarks, domain names, commercial rights, digital assets, competition data and related intellectual property associated with the Billie Jean King Cup. The assignment was effected via a Deed of Assignment and supported by a contractual consideration of $143,900, settled through an on-demand intercompany loan. The transaction represents a legal transfer within the group and did not give rise to any gain or loss in the consolidated financial statements. e) Property, plant and equipment Property, plant and equipment are stated at cost, less accumulated depreciation. The cost of the tangible fixed assets is written off in equal instalments over their useful lives as follows: Leasehold buildings Over the remaining period of the lease or asset life (if shorter) Computers, databases and technical equipment 3 years Furniture and equipment 4 years ITF Trust Annual Report and Consolidated Financial Statements 21

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