Company: SEAH
Filing Date: 2025-07-24
Form Type: DRS
Source: 0001213900-25-067275
Chunk: 190

Company: Seahawk Recycling Holdings, Inc.
Filing Date: 2025-07-24
Form: DRS
Chunk 190
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 lease terms (in years) |     |                2.64 |   |     | 3.36 |   |
| Weighted-average discount rate                    |     |                0.86 | % |     | 1.01 | % |

F-24

SEAHAWK RECYCLING HOLDINGS, INC. NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (In U.S. Dollar, except for share data) 11.LEASES (cont.) As of March 31, 2025, the schedule of future minimum payments of Group’s operating leases is as follows:

| For the years ending March 31, |     | Amount |         |   |
|:-------------------------------|:----|:-------|--------:|:--|
| 2026                           |     | $      |  68,861 |   |
| 2027                           |     |        |  48,278 |   |
| 2028                           |     |        |  41,613 |   |
| 2029                           |     |        |   1,014 |   |
| Total lease payments           |     |        | 159,766 |   |
| Less: imputed interest         |     |        |  (1,616 | ) |
| Total                          |     | $      | 158,150 |   |

12.TAXATION Income taxes British Virgin Islands Under the current laws of the BVI, entities incorporated in the BVI are not subject to tax on their income or capital gains. In addition, dividends paid by the BVI subsidiaries to their respective shareholders who are not residents of the BVI, if any, are not subject to withholding tax in the BVI. Japan The Company conducts its major businesses in Japan and is subject to tax in this jurisdiction. As a result of its business activities, the Company files tax returns that are subject to examination by the local tax authority. Income taxes in Japan applicable to the Company are imposed by the national, prefectural, and municipal governments, and in the aggregate, resulted in an effective statutory rate of approximately 34.59% for the years ended March 31, 2025 and 2024. For the years ended March 31, 2025 and 2024 the details of income tax expenses (benefit) are set forth below:

|                                     |     | For the years ended 
 March 31,           
 2025                |         |     | 202