Hi Dee, thanks — that’s helpful. To add some colour, here are the high-level numbers and structure: - UK digital marketing / social media agency - ~£185k annual turnover - ~£60k reported net profit - ~£120k+ EBDAR after owner add-backs (owner salary/pension) - Owner works ~2 days per week - Delivery via 2 subcontractors - Asset-light, no premises, no long-term client contracts - Majority of revenue believed to be monthly retainers (confirming %) Seller is non-distressed and open to seller finance as she is looking to start a course in September in aesthetics and wants to focus on that . Asking price c. £199k. My thinking so far: - Valuation range ~£140k–£150k EV (cash-free, debt-free), with 1.5× EBDAR as a hard ceiling - Seller finance over ~5 years to protect cash flow - Minimal upfront cash (ideally funded from surplus working capital), given people dependency and service risk Given the above, keen to hear views on: - Whether 50% upfront feels realistic in this type of asset-light, people-dependent service business - Or whether a lower upfront + longer deferred / performance-linked element would be more appropriate Appreciate any thoughts.

Thanks @Mitch Foley