Company: SLMT
Filing Date: 2025-05-28
Form Type: 20-F/A
Source: 0001213900-25-048029
Chunk: 33

Company: Brera Holdings PLC
Filing Date: 2025-05-28
Form: 20-F/A
Chunk 33
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umica      |     | Macedonia    |     | June 13, 2024      |     | 100% (via FKAP)               |

Functional and Presentation Currency

The financial statements of each of the Company’s
entities are measured using the currency of the primary economic environment in which the entity operates (the “functional currency”).
These consolidated financial statements are presented in euro (the Company’s presentation currency).

| Entity                          |     | Functional Currency          |
| Brera Holdings. PLC             |     | United States dollar (“US$”) |
| Brera Milano S.r.l.             |     | Euro (“EUR”)                 |
| Brera FC                        |     | Euro (“EUR”)                 |
| Fudbalski Klub Akademija Pandev |     | Macedonian Denar             |
| UYBA Volley S.s.d.a.r.l         |     | Euro (“EUR”)                 |
| Tiverija Brera AD Strumica      |     | Macedonian Denar             |

Foreign currency transactions are translated into
the functional currency using the exchange rates at the dates of the transactions. Foreign exchange gains and losses resulting from the
settlement of such transactions, and from the translation of monetary assets and liabilities denominated in foreign currencies at year-end
exchange rates, are generally recognized in profit or loss. They are deferred in equity if they relate to qualifying cash flow hedges
and qualifying net investment hedges or are attributable to part of the net investment in a foreign operation.

Foreign exchange gains and losses that relate
to borrowings are presented in the statement of profit or loss, within finance costs. All other foreign exchange gains and losses are
presented in the statement of profit or loss on a net basis within other gains/(losses).

Non-monetary items that are measured at fair value
in a foreign currency are translated using the exchange rates at the date when the fair value was determined. Translation differences
on assets and liabilities carried at fair value are reported as part of the fair value gain or loss. For example, translation differences
on non-monetary assets and liabilities such as equities held at fair value through profit or loss are recognized in profit or loss as
part of the fair value gain or loss, and translation differences on non-monetary assets such as equities classified as at fair value through
other comprehensive income are recognized in other comprehensive income.

The results and financial position of foreign
operations (none of which has the currency of a hyperinflationary economy) that