According to Engel & Volkers' 2025 Franchise Disclosure Document, the audited financial statements are included as Exhibit I. This exhibit contains Engel & Volkers Americas, Inc. and Subsidiary's consolidated balance sheets as of December 31, 2024, and 2023. It also includes the consolidated statements of comprehensive income (loss), changes in shareholders' equity, and cash flows for each of the years in the three-year period ending December 31, 2024, along with related notes.

Specifically, the financial statements include an independent auditor's report and the consolidated financial statements. The consolidated balance sheets cover two years, while the statements of comprehensive income (loss), changes in shareholders' equity, and cash flows cover a three-year period. Notes to the consolidated financial statements are also provided, offering additional details and explanations of the figures presented.

The table of contents in Exhibit I provides a roadmap to the various financial statements and related notes. For example, the independent auditor's report can be found on pages 1-2, the consolidated balance sheets on pages 3-4, the consolidated statements of comprehensive income (loss) on page 5, the consolidated statements of changes in shareholders' equity on page 6, the consolidated statements of cash flows on page 7, and the notes to the consolidated financial statements on pages 8-23. Reviewing these statements and notes is essential for prospective franchisees to understand the financial health and performance of Engel & Volkers.