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AUDITED FINANCIAL REPORT <br />In performing an audit in accordance with GAAS, we: <br />• Exercise professional judgment and maintain professional skepticism throughout the audit. <br />• Identify and assess the risks of material misstatement of the consolidated financial statements, <br />whether due to fraud or error, and design and perform audit procedures responsive to those risks. <br />Such procedures include examining, on a test basis, evidence regarding the amounts and <br />disclosures in the consolidated financial statements. <br />• Obtain an understanding of internal control relevant to the audit in order to design audit procedures <br />that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the <br />effectiveness of Kokosing, Inc. and Subsidiaries' internal control. Accordingly, no such opinion is <br />expressed. <br />• Evaluate the appropriateness of accounting policies used and the reasonableness of significant <br />accounting estimates made by management, as well as evaluate the overall presentation of the <br />consolidated financial statements. <br />• Conclude whether, in our judgment, there are conditions or events, considered in the aggregate, that <br />raise substantial doubt about Kokosing, Inc. and Subsidiaries' ability to continue as a going concern <br />for a reasonable period of time. <br />We are required to communicate with those charged with governance regarding, among other matters, <br />the planned scope and timing of the audit, significant audit findings, and certain internal control —related <br />matters that we identified during the audit. <br />Supplementary Information <br />Our audit was conducted for the purpose of forming an opinion on the consolidated financial statements <br />as a whole. The consolidating balance sheet and consolidating statement of income for Kokosing, Inc. <br />and Subsidiaries are presented for purposes of additional analysis of the consolidated financial <br />statements rather than to present the financial position and results of operations of the individual <br />companies, and are not a required part of the consolidated financial statements. Such information is the <br />responsibility of management and was derived from and relates directly to the underlying accounting and <br />other records used to prepare the consolidated financial statements. The consolidating information has <br />been subjected to the auditing procedures applied in the audit of the consolidated financial statements <br />and certain additional procedures, including comparing and reconciling such information directly to the <br />underlying accounting and other records used to prepare the consolidated financial statements or to the <br />consolidated financial statements themselves, and other additional procedures in accordance with <br />auditing standards generally accepted in the United States of America. In our opinion, the consolidating <br />information is fairly stated in all material respects in relation to the consolidated financial statements as a <br />whole. <br />Crowe LL P <br />Crowe LLP <br />South Bend, Indiana <br />June 23, 2023 <br />SOUTH BEND, INDIANA GSC 16 <br />