SCHEDULE OF COMPENSATION OF KEY MANAGEMENT PERSONNEL

For the year ended March 31, 2025, Chan Kam Biu, Richard, a director and major shareholder, waived his remuneration of HK$1,200,000 to support the Company’s financial stability. The waiver was recorded as cost of revenue of HK$240,978 and administrative expenses of HK$959,022 with corresponding account charged against other reserve as a capital contribution. No waiver of remuneration was made for the year ended March 31, 2026.

The amounts are unsecured, interest-free and repayable on demand. The related party balances are set out below:

 SCHEDULE OF RELATED PARTY BALANCES

GREEN CIRCLE DECARBONIZE TECHNOLOGY LIMITED

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS

FOR THE YEARS ENDED MARCH 31, 2026, 2025 AND 2024

(Expressed in Hong Kong Dollars)

During the year ended March 31, 2026, the Group made repayment of HK$200,000 (2025: Nil) to Lui Lai Yuen.

During the year ended March 31, 2026, the Group made payments of HK$1,935,441 to Dr Chan Kam Biu, Richard (2025: HK$729,302), received advances of HK$1,706,496 (2025: HK$843,647) from Dr Chan Kam Biu, Richard, and settlement of the Group’s purchase of property, plant and equipment on behalf of the Group in total of HK$Nil (2025: HK$6,898).

During the year ended March 31, 2025, the management of the Group has written off the amount due from Boca Holdings Limited of HK$481,293 and recognized in profit or loss. No written off was recognized during the year ended March 31, 2026.

On December 10, 2021, Chan Kam Biu, Richard, one of the directors of the Company, entered into a put option agreement with certain creditors. Pursuant to the agreement, the aforementioned creditors obtained a put option that within 2 months after the lock-up period (six months after listing of the ordinary shares of the Company) they could exercise the put option to sell not more than 5% of the issued ordinary shares of the Company to Chan Kam Biu, Richard at the offering price.

On March 13, 2025, the Group entered into sales and purchase agreements with a director of the Company and his close family member, Ms. Lui Lai Yuen, and Mr. Chan Koon Wah Charles, for purchasing residential property for the accommodation of Chan Kam Biu, Richard and Lui Lai Yuen. The consideration was HK$9,500,000. As of March 31, 2026, the Group had paid the total consideration of HK$9,494,200. (2025: deposit of HK$950,000 which was utilized as part of the total consideration). The Group’s purpose of holding the property is to provide management/employee benefits to the director. Therefore, the property does not qualify as investment property, and should be classified as owner-occupied property and accounted for under IAS 16 Property, Plant and Equipment.