2024-03-31-accounts

Docusign Envelope ID: OFFC1088-AE1840DI-99D6-114554A6152E Bioregional Development Group (a Company Limited by Guarantee and not having Share Capital) Company Registration No. 02973226 Charity Registration No. 1041486 Report of the Trustees and Financial Statements for the year ended 31 March 2024 ADA4HGSZ 231W2024 COMPANIES HOUSE A09

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Docusign Envelope ID: OFFC1088-AE18-4DDI-99D6-114554A6152E Bioregional Development Group (A Company Llmlted by Guarantee and Not Havlng Share Capital) Contents Report of the Trustees Objects of the Charity Our vision Our strategic goals for 2030 Public benefit summary Bioregional Impact Revlew: 2023-24 Management and Governance Fundraislng Policy Flnancial Performance 19 20 20 Risk Management Reserves policy and going concern Statement of trustees. responslbilities Audltors 22 22 22 23 Independent Audltor's Report to the Members of Bloreglonal Development Group24 Consolldated Statement of Flnancial Actlvitles (Incorporating an Income and expenditure account) for the year ended 31 March 2024 27 Notes to the Financlal Statements for the year ended 31 March 2024 31 Legal and Admlnlstratlve Information 49

Docusign Envelope ID: OFFC1088-AE18-4DDI-99D6-114554A6152E Bioregional Development Group A Company Llmited by Guarantee and Not Havlng Share Capltal) Report of the Trustees The trustees are pleased to present their report for the year ended 31 March 2024 together with the consolidated financlal statements of Bioregional Development Group. The flnancial statements have been prepared in accordance with the accounting policies set out on pages 31 to 48 of the attached financial statements and comply wlth the charltable company's Memorandum and Articles of Association, applicable laws and the requirements of Accountlng and Reporting by Charities: Statement of Recommended Practice appllcable to charities preparing their accounts in accordance wlth the Financlal Reporting Standard appllcable In the Unlted Klngdom and Republlc of Irelancl (FRS 102). The reference and administratlve Informatlon set out on page 49 forms part of thls report. The annual report also serves as a dlrectors, report for the purposes of company law. Objects of the Charity The objects of Bloregional Development Group as set out In Its governing document in the Memorandum and Artlcles of Association are: To advance education for the public benefit, in particular concerning the practice of sustalnable living Includlng the conduct of community life and economlc activity* and to promote the p￿SerVation, conservatlon and restoration of the natural resources, animal and plant life, and habitats of the world. Our vision Our vlslon Is of a world where everyone can Ilve happy and healthy lives wlth the Ilmlts of our planet's resources, while leavlng sufflclent space for wlldllfe and wllderness. We call thls One Planet Llvlng. Our strategic goals for 2030 Bioregional will show, worklng wlth clients and partners, how one planet Ilving can be achleved in our homes, communltles, buslnesses, and town centres. We will use practical examples of our work to change pollcy and practice - both In the UK and internatlonally through the UN Sustainable Development Goals network, to help avert the cllmate and ecological emergency and achieve the SDGS by 2030. We alm to: Drive exemplary business practlce: we wlll help businesses to measure and reduce thelr carbon footprlnts in Ilne with sclence-based targets, set arnbitlous strategies that enable sustalnable consumptlon and produttion, and play an active role in regeneratlng the natural ecosystems upon whlch we all depend. Create sustalnable homes and communitles: we wlll support housebullders, property owners, and local authorities to enable the next generation of net-zero, affordable, biodiverslty-positlve homes to be built; support local authorltles to create and Implement net-zero carbon plannlng policies and sustainable hlgh streets. and work wlth asset owners to sustalnably retroflt homes. Influence policy and industry practice: we will work with our partners and stakeholder groups, sharing knowledge of the practical and Insplrlng solutions we have developed with partners to Influence government policy and industry practice In the bullt envlronment, sustainable production and consumption, and corporate sustainability strategies.

Docusign Envelope ID: OFFC1088-AE184DDI-99D6-114554A6152E Bioregional Development Group (A Company Llmited by Guarantee and Not Havin Public benefit summary Bioregional has championed sustainable. living for 30 years. We support organisations to transition to a net-zero carbon, clrcular, and sustainable future, and work with partners to create homes, workplaces and communitles that enable one-planet living. Share Capital) We believe that by partnering wlth ambltSous buslnesses, property developers, asset owners, and local communities, we can create the right condltlons for people to prosper while living wlthln the Earth's means. We have revlewed the Charlty Commission guidance on publlc benefit and have detalled In this report our maln areas of charltable actlvlty. All trustees give their time voluntarlly and recelve no beneflt from the charity. Any expenses reclaimed from the charlty are set out in note 7 to the financial statements.

Docusign Envelope ID: OFFC1088-AE184DDI-9906-114554A6152E Bioregional Development Group (A Company Limited by Guarantee and Not Havlng Share Capital) Bioregional Impact Review: 2023-24 Chief Executive's foreword As I reflert on Bloreglonal's work across 2023-24, in Ilmat ientis front- e news. Hundreds of the world's leading climate experts antlcipate global temperatures to rise to at least 2.5C above preindustrial levels this centuryi tearing past internationally agreed targets and causing devastating consequences for humanlty and the planet. Agalnst thls backdrop, the need for our leaders to take decisive and collectlve actlon to tackle the cllmate and ecologlcal emergency Is gettlng more crucial by the second. In the past year, our team continued to support businesses, the bullt env5ronment sector, local and national governments, and NGOS ranging from community groups through to the United Nations, to all play their part In facing the challenge. We always work to brlng thls good prartlce to the malnstream and so, in line with our 2030 strategic goals, we led a group of over 250 Industry leaders In calllng for the UK Government to Improve the proposed new bulldlng regulatlons, whlch homes In England and Wales. Helplng to ensure that the UK could meet Its legally blndlng net-zero targets and also lower household energy bllls. Our work was recognised with the 'Tr form tio Sustainabili Con ultin Awards - in recognltion of our successful sustalnablllty partnershlp wlth Kln9fisher group (B&Q, Screwflx, Tradepolnt) over the past 13 years. We were also dellghted to be flnallsts In the edle awards 2024 In two categorles - £on f the Year, and N -zero Inn va lon of th for nnin l and partnershlp wlth Greater Cambrldge Shared Planning and mode transport planning. The challenge is immense, yet our clients and partners contlnue to Insplre us they prove a sustalnable future Is stlll wlthln our grasp. I hope you enjoy reading the rest of this 2023-24 Impact review, which is a fantastic showcase of our team's contlnued achlevernents. Sue Rlddlestone OBE, Chief Executive Bioregional

Docusign Envelope ID: OFFC1088-AE184DDI-99D6-114554A6152E Bioregional Development Group (A Company Limited by Guarantee and Not Having Share Capital) Campalgnlng and collaborating to create wlder change Leading industry efforts to achleve a greater standard for UK homes We collaborated with other bullt envlronment leaders to write an o en letter to Michael G Secretary of State for Levelling Upi Houslng and Communities, calling for improvements to the proposed Future Homes Standard (FHS) to help the UK meet its legally binding net-zero targets and lower household energy bllls. Led by Bloreglonal and Good Homes Alllance, alongside LEfI and UK Green 8ulldlng Council, the open letter set out where we believe the standard falls short, and what should be done to Improve it. The campalgn received public backlng from 0￿￿￿2&￿￿, Includlng 10 developers and more than a dozen local authorltles. "Our Inltial thought was 'why has the government gone for the least ambitious standards that the Industry proposed?, The government set out two reasons to justify it, and the Influence of the Prime Minister's cllmate culture wars stance Is clear. But we found that the arguments dldn't stack up." iddl Amplifylng our voice through industry networks and campaigns We have contrlbuted to the work of varlous membershlp bodles and stakeholder groups, Including UK Green Building Councll, Aldersgate Group, Green Alllance, Better Bulldlngs Partnership, UN Global ABC, UN One Planet Network, and the Academy of Urbanism. In addition, we have responded to consultations and calls for evidence, Including a government consultatlon on changes to the Natlonal Planning Policy Framework, and engagement with UK polltical partles and pollcy maker5. Thls included our backlng of 's lett cre whlch called for the Levelllng up and Regeneration Bill to be strengthened to ensure the English planning system aligns wlth our net zero emlsslons targets and helps restore nature across the UK. We Jolned over 350 Industry leaders and organlsatlons In signing the Worl er to polltlcal leaders at COP28 asking for policy changes needed to decarbonlse the buildlng and construttlon sector. We also backed from a coalition of envlronmental groups and trade unions, calllng on the Labour Party to hold firm on its pledge to ban new North sea oll and gas. Supportlng a manlfesto to transform the bullt envlronment UK Archltects Declare Is a network of over 1,330 slgnatory practlces committed to addresslng the climate and ecological emergency. It is clear that 30 years of sustainable design has not got us where we need to be, and we are calllng for a fundarnental shift towards clrcular and regenerative models. CEO and co-founder Sue Rlddlestone OBE wrote the foreword to nif and ke at the ouses o panel members including Caroline Lucas, Kate Raworth and Kevin Mccloud. ent alongslde Building Blocks could transform the UK by providing: £1.3 bllllon In NHS savings by retrofltting cold homes £82 bllllon boost to UK Gross Value Added by transitionlng to a circular economy

Docusign Envelope ID: OFFC1088-AE184DDI-99D6-114554A6152E Bioregional Development Group (A Company Limited by Guarantee and Not Havlng Share Capital) Up to 725,000 Jobs created through low-carbon sertor "We are the generations alive today that can meaningfully tackle the climate and ecologlcal emergency. As for our built environment, the solutlons are all there. In the thirty years that I have been working in the sector, it's gone from experimental eco- villages to malnstream knowledge and best practice. It can be done, it's Just a government ambltlon gap that needs attentlon rlght now. Sue Riddlestone QBE Shaplng the future of carbon accounting standards Bioregional became a founding member of the Carbon in a coalition of software companies, consultancies, auditors and certlfylng bodles that have come together to collaborate on solvlng challenges faced by our Industryi to share best prattlce and promote the development of robust standards. The alllance conslsts of over 350 members that have collectlvely measured the carbon footprlnts of over 70,000 organlsatlons. We have collectively measured more than I bllllon tonnes of C02e with our clients, achieving more than 29 mlllion tonnes of dirett C02e reductlons (no offsets). Shlnlng a Ilght on how cruclal nature Is to buslness Nature Is In crlsls. And nature loss means even bigger trouble for our economy, for us and future generations. That's why we took part In the rwil usine whlch shone a light on how cruclal nature Is to buslness. The UK is one of the most nature-depleted countries on earth and is also in the bottom 10 % of countrles for protectlng what Ilttle nature we have left. This contlnued loss wlll ultlmately have devastating consequences for us and for future generations, Our economy Is fundamentally rellant on the stablllty and servlces provlded by our natural world. Wlthout nature, our buslnesses would collapse. That's why the Save Our Wlld Isles buslness films, produced by Silverback Fllms In collaboratlon wlth the RSPB, WWF UK, and the Natlonal Trust, are so Important. Inspired by the BBC series Wild Isles, thls collectlon of four fllms has been made for the business community. Each explores the damage that we are infllctlng upon nature In the UK, and the key actlons that buslnesses can take to become part of the solutlon to the nature crlsls. CEO Sue Rlddlestone OBE features alongside other business experts to dlscuss how we can halt the decllne In nature and begln to restore our natural habltats to ensure a thrlvlng economy and a future In whlch we can Ilve prosperously wlthln our planetary boundarles. Slgning the Nature Positive Busine55 Pledge Bioregional ned the Nature Positive Buslness Pled e, which was launched by RSPB and Institute of Environmental Management and Assessment (IEMA) alongside the UK Business & 81odlverslty Forum to encourage businesses to commlt to haltlng and reverslng thelr Impacts on the natural world.

Docusign Envelope ID: OFFC1088-AE184DDI-99D6-114554A6152E Bioregional Development Group (A Company Limited by Guarantee and Not Having Share Capital) One Planet Living: our sustainability framework One Planet Llving In numbers Our ne Plan Livin bilit framework has always been free to use, and now has users spanning slx continents and 22 countries including Australia, Canada, USA, South Africa, and Ireland. In the 21 years since we developed the framework with the World Wide Fund for Nature (WWF), nearly 350 communitles, housebuilders, buslnesses, schools, and other organisatlons have used One Planet Livlng to create a more sustalnable world. This includes 63 real estate developers, 82 businesses, 38 city/regional dlstricts and 39 schoolsleducation providers. A total of more than 1.4 million people are now living in, visiting, or working at organisations, communitles, and cities with a commltment to One Planet Living. In the past year we have: Worked wlth nine One Planet Llvlng partners to assess their sustainability progress and ambitions, Had 17,000 visitors to our One Planet Living webpages, Provlded One Planet Llving resources that were downloaded over 2,000 tlmes. Celebratlng new One Planet Living Leaders One Planet Living Leaders are projects that showcase the very best use of our framework and represent the gold standard In sustalnable placemaklng. There are hundreds of One Planet Llving projects around the world, but only the very best achleve the status of Leader or Global Leader. ere are n Lea aders. pi Clty Quays Gardens Is a public space wlthln the wlder regeneratlon of the 2,000-acre Belfast Harbour area. The Gardens front the hlstorlc Harbour Offlces, Incorporatlng green space, planted areas, flexlble event areas, gatherlng spaces and clvlc artwork5 that create a unlque sense of place out of what was once an underused car park. pi tiatsa is a Jolnt venture between Windmill Developments and Leader Lane Developments. It comprlses three residentlal bulldlngs In Etoblcoke's Mlmlco nelghbourhood of Toronto, consisting of two slx-storey and one eight-storey resldentlal bullding, totalllng 83 homes. As part of the One Planet Llvlng Real Estate Fund portfolio. Halsa is part of a process to make aspiratlonal One Planet Llvlng a standard and conslstent way of dellvering communities. Founded In 2003, Windmlll Is a visionary real estate group focused on creatlng happy, healthy communlties within the resources of our planet. The Group is dedicated to transforming conventlonal development practices through Its use of the One Planet Livlng sustainability framework. It created Canada's first One Planet Llvlng rnasterplan at Zibi In ottawa, and In 2021, it established the $IOOm One Planet Living Real Estate Fund, In partnershlp with Epic Investments. The Fund currently has 10 active projects across the Greater Toronto Area and

Docusign Envelope ID: OFFC1088-AE18-4DDI-99D6-114554A6152E Bioregional Development Group (A Company Limited by Guarantee and Not Having Share Capital) downtown Ottawa. Four of the projects will take an innovative approach to using prefabricated Cross Laminated Tlmber, which dellvers lower embodied carbon and allows for more rapid construction delivery. One Planet Livlng is deeply embedded in every aspect of the Wlndmlll Group of Companles: In Its corporate strategyi Sts governance structures, its staff culture, and in the formulation and speclfication of every development project In the One Planet Living Fund. The Group's advisory arm, Urban Equation, makes all the technical realities of One Planet Living come alive, innovating and improving with new ideas on every project. One Planet Llving Is expertly communlcated In all Wlndmlll communications material, and thls Is true for the 2023 Sustalnablllty Strategy. The governance structures and corporate culture at Windmill are inspiring and One Planet Llvlng Is beautlfully Integrated Into all group operations. Leaders maintalnlng their statuses The Kings Farm Close development at Longcot, Oxfordshire, comprises 15 new homes. These new homes will have near-zero-carbon footprlnts, thanks to their use of an innovatlve construttion system called Blond, which uses timber, wood fibre and hemp in the manufacturlng process. Emlssions of climate-changlng carbon dloxlde gas caused by thelr constructlon are about 900/0 lower than for a conventional brick-bullt new home. rSn fleld do Glo Springfield Meadows, developed by Greencore Homes, is a custom-bulld houslng development on the outsklrts of Oxfordshire vlllage Southmoor. It has used One Planet Llvlng throughout its deslgn and plannlng processes and has done so in its construrtion phase too. Thls ambitious development has had Its One Planet Actlon Plan endorsed as a Global Leader In One Planet Llvlng by Bioreglonal. The homes, bullt uslng local labour, are hlghly energy-efficient, use natural materlals and good ventilation. The use of an innovative construrtion system using natural materials like hemp creates an approximately 90 % reductlon In carbon emlssions due to construction compared to standard home In the UK of a simllar slze. AA Developed by Edward Capital and des5gned by BDP Archlterts, Bonham Quay shows how our city centres can evolve to create places we want to vlslt and work In, with space for nature which everyone can enjoy. Built on industrial land in a highly accessible locatlon rlght Sn the heart of Galway city, the developers have created a hlgh-quallty scheme that makes it easy for people to live a sustalnable lifestyle. lo al ader 2023 Zibi, which Means 'rlver' In the Algonquln Anishinaabe language, is a waterfront area located next to downtown Ottawa and its neighbouring clty of Gatlneau, overlooking both the Ottawa Rlver and Chaudlère Falls. Redeveloped from industrial brownfield land once dominated by a paper mlll, the 37-acre site will Include commerclal and retall propertles, condomlnium developments, a hotel, waterfront parks and open spaces and a network of pedestrian and cycling paths.

Docusign Envelope ID: OFFC1088-AE184DDI-99D6-114554A6152E Bioregional Development Group (A Company Limited by Guarantee and Not Havlng Share Capital) Zlbi has a distrlct-wlde. zero-carbon energy system. Despite delays beyond Zibi's control, in its first year of operation, Zibl stlll dellvered a 380/0 C02 saving on thermal demand compared to business-as-usual, resulting in 415tC02e of which half was due to one-off commissioning activity. Sln Ita So rn and East Afri Leader 20 Singita Is a leading sustalnable tourlsm company, which boasts two One Planet Living Leaders Singlta Southern and East Africa and Singita Grumeti. Singita operates 15 eco-tourism lodges and camps in Southern and East Africa, whlch achleved Leader status In 2023, a downgrade from its previous Global Leader status. Singlta has achieved Incredlble things since It started using One Planet Living in 2012. It has created culinary schools for local communities, partnered in the relocation of rhino and helped to protect vast tracts of critlcally endangered ecosystems. Thls Is a company that shows true leadershlp In many areas and to achleve Global Leadershlp again, now is the tlme to refocus on carbon mitigation and One Planet Living. Corporate sustalnablllty Our consultancy work continues to focus on businesses In the retall, and food and beverage sertors, as well as the engineeringi construction, and property sectors. Last year we supported 33 organlsatlons to develop and dellver thelr sustainabllity strategles, sustalnable product guldellnes, carbon-footprlntlng, and net-zero roadmaps. These buslnesses collectively employ over 290,000 people, wlth a combined total turnover of over £23bn. Transforming $u$talnable home Improvement retall wlth Klngfl$her group For 13 years we have supported Kingfisher plc to redefine sustalnable home Improvement retall. Our partnershlp has seen Bioregional work extensively with Europe's leading home improvement group, from setting sclence-based carbon reductlon targets to helplng Klngfisher develop more sustalnable retall produrts, enabling thousands of people to Ilve more sustainably in thelr homes. We were thrllled to see these achlevements recognised at the 2023 Sustainablllty Consulting Awards In June 2023, where IA IA ca Key progress in the last year has been: Net-zero strategy we supported the development and monltorlng of Kingfisher's science-based carbon reduction targets across property, logistlcs, supply chalns, and the use of its produtts by customers. In 2022/23 Kingfisher reduced its scope l and 2 emissions by 52.6 % compared to its baseline year, significantly outperforming its target of 37.80/0. Sustainable product guldellnes - we provided technlcal support to drlve Improvements across Kingfisher's range of more than 100,000 products that are designed for sustainability either because they are made from more environmentally-friendly materials, or because they help people to Ilve more sustainably at home. A record 46.80/0 of total Group sales were from products helping to create greener, healthler homes (2021122: 44.1 % ), generating £6.2 bn of sales for the business. io

Docusign Envelope ID: OFFC1088-AE184DDI-99D6-114554A6152E Bioregional Development Group (A Company Limited by Guarantee and Not Having Share Capital) Helping The Portman Estate to engage Its supply chain The Portman Estate is one of London's oldest landed estates, located between Oxford Street, Edgware Road and Crawford Street In London's West End, and covers 69 streets, 650 buildings and four garden squares. In 2023 the Estate launched Its flrst ever Suppller Charter, whlch sets out the standards it expetts of the organisations it works with. The Charter aims to establish a shared approach to environmental and social Issues, to drive positlve change in collaboration between the Estate and its suppliers. The Charter uses Bloreglonal's One Planet Living framework to ensure that all areas of sustainability are covered. Bloregional delivered three In-person workshops to the Portman Estate's suppliers between January and March 2024. We carefully designed each workshop to cover dlfferent aspects of the Charter, tallorlng the content to the Industrles of the attendees. Across the three sessions, over 60 people attended from over 40 suppllers. By the end of the project, The Portman Estate received 28 slgn-ups to the Suppller Charter. This will help the Estate to cascade sustalnablllty down the supply chaln and, In the long term, reduce Its scope 3 emisslons by encouraging suppliers to measure and submlt thelr own carbon footprlnt data. "Bioregional created three really engaging and informative workshops to target all audiences. We're delighted with the ￿sponSe so far to our Supplier Charter and Bloregional's workshops were vital to starting a conversatlon about sustainability with suppliers at all stages of their sustainability journeys. Katie Balderson, Corporate Director, The Portman Estate Ensuring Burlodge meets new NHS procurement le9islation Burlodge specialises in meal dellvery solutions for hospitals, schools, prSsons and care homes. Burlodge is a key suppller to the NHS, providing it with advanced meal dellvery systems In hundreds of hospitals throughout the UK. As part of NHS England's new leglslatlon, all NHS suppllers requlre an NHS Carbon Reductlon Plan (CRP) and Net-zero Commltment to maintain thelr supplier status beyond 2024, and our support enabled Burlodge to successfully complete and achleve an Evergreen Assessment Level Bioregional produced Burlodge's carbon footprlnt, covering scope 1, 2 and 3. We then worked with Burlodge to develop a carbon reduction plan that would meet all the NHS supplier requlrements, and set out all the carbon reductlon measures that wlll help Burlodge achieve its emissions reduction targets. Thls Included: A commltment to net zero by 2050 for UK operations as a mlnlmum. o Basellne and current emisslons for scope 1, 2 and 3 adherlng to the GHG protocol (scope 3 categories 4, 5, 6, 7 and 9 at minimum). Emissions In C02e for all 7 greenhouse gases covered by the Kyoto Protocol. Beyond the immedlate gains of meeting NHS requlrements for suppliers, Burtodge now has a sclence-based carbon reductlon glidepath that wlll ensure It reaches net zero, In Ilne wlth a 1.5c planet. Burlodge now has clear attlons to take and goals to achieve at both the 2030 and 2045 mllestones across key areas such as buildings, transport and suppliers. "Blo￿g10nal s support helped us to measure emissions across our whole value chaln (including scope 3). As a result, we are now gaining valuable insights into the li

Docusign Envelope ID: OFFC1088_AE184DDI.99D6.114554A6152E Bioregional Development Group (A Company Limited by Guarantee and Not Having Share Capital) environmental impacts of our operations, and we can now implement sustainable practices in the precise places where they will make the biggest impact. Bioregional's expert team We￿ instrumental in creating our baseline carbon footprint and NHS CRP, which included a net-zero workshop to engage our team, along with supportlng the final submission to ensure it was water-tight and met all the NHS supplier criteria. Danlela Trlolo, Business Assistant, Burlodge Supportln9 a range of sectors on carbon accountingi scope 3 emisslons and carbon reduction strategies We helped buslnesses and organlsatlons across multiple sectors to better understand thelr scope 3 emisslons, and what they can do to reduce them. British Heart Foundation (BHF) is a UK charity, that funds over £100 million of lifesaving research Into heart and circulatory diseases annually and supports people affected by these conditlons. A slgnlficant aspect of BHF'S operating activlty revolves around retall, runnlng 691 hlgh street charlty shops selling both second-hand and new Items, including apparel, books, homeware, toys and large fumlture. Already holdlng a good understandlng of its direct emissions, BHF was looking to un(Jerstand how to define the boundary of its scope 3 emissions, set ambltlous but achievable targets and develop a supporting decarbonlsatlon strategy across It scope 1, 2 and 3 emissions. BHF was also Interested in developing Its understanding of avolded emisslons, havlng started to calculate the Impact of carbon savlngs from the purchase of second-hand good5 vs new goods. Bloregional's work means that BHF has now agreed on a set of ambltious scope 1, 2 and 3 targets and a roadmap for becoming a net-zero organlsation. These targets are allgned with the Sclence Based Targets Initiative (SBTI) the global standard for carbon reduttion targets. If met, these commltments will see savings of 49,061 tonnes of C02e (carbon dioxlde equlvalent) by 2050 the equlvalent of drlvlng an average car over 350 mllllon kllometres. Mitchells & Butlers is one of the largest operators of restaurants, pubs and bars In the UK and one of only a handful of organisations In the sector to have a net-zero target verified by the Science Based Targets initiatlve. with the majorlty of Its footprint comlng from the food and drinks It serves, Mitchells & Butlers knows that meetSng Its net-zero target relles on actlon wlthin its supply chain. To do thls, Mitchells & Butlers needed to assess and revlew supplier-specific footprlnt data from key suppliers and integrate it into its scope 3 measurements. Bioregional is proud to have partnered wlth Mitchells & Butlers since 2019, and last year we supported it to make the next step In Its supply chaln carbon Journey, integrating suppller- speclflc data from key providers across proteins and beverages. As part of the exerclse, we met wlth priority suppllers to discuss available data and understand what was appropriate to integrate into the Mitchells & Butlers footprint. This involved working wlth suppllers to understand their own methodology and calculations. This work equipped Mitchells & Butlers with the data it needed, and established the foundation from which it could record supply chaln redurtions within its scope 3 emissions. It also strengthened Mltchells & Butlers. supplier relatlonships, demonstratlng Its commitment to net zero, and the impact was amplified as suppllers were Insplred to begin their own cart)on measurements. 12

Docusign Envelope ID: OFFC1088-AE184DDI-9906-114554A6152E Bioregional Development Group (A Company Llmited by Guarantee and Not Havlng Share Capital) "Bioregional helped us to make sense of the technical data provlded by our suppliers and make a call on what was appmpriate to integrate into our scope 3 footprint. As well as giving us a more specific read on our carbon footprint, 8ioreglonal s recommendations helped us have productlve conversations needed to ampllfy impacts throughout our supply chain, and support our choice of suppller5 for futu￿ years." Amy de Marsac, Head of Investor Relations and Sustainability, Mltchells & Butlers Purity Soft Drinks Is a UK-based soft drlnks manufacturer with a 130-year history, that crafts natural juice-based drinks. Verdane, Purity Soft Drinks, parent companyi had set net-zero goals that Included being carbon neutral across scopes l and 2 and reduclng scope 3 emissions by 650/0 by 2030. Purlty required a baseline carbon footprint in order to support Verdane's targets. Bioregional calculated a full baseline carbon footprint for Purity Soft Drlnks across scopes 1, 2 and 3, and provlded an interactlve emlsslons dashboard. Our work hlghllghted key emlssions hotspots such as Ingredlentsi packaglng and upstream freight. We also advlsed on high-level reductlon actlvlties, the next steps In Purlty's road to net zero, and how to Improve data collectlon for the next emlsslons assessment. The baselSne footprlnt gave Purlty a clear vlew of where Its emlsslons currently slt, and the scale of work needed to reduce scope 3 emisslons wlthln Its supply chain. It provlded Purlty's procurement team wlth the data It needed to engage Its key suppllers to establlsh their respectlve carbon emlsslons and impact. Beale & Co has been providing specialist legal advlce to the construction and Insurance Industrles for over 50 years. It was increasingly belng asked by staff and clients about its commltments to net-zero, and It approached Bloreglonal for support In settlng a science-based target, understanding its environmental Impact and strengthening its sustainablllty efforts. We calculated Beale & Co's baseline carbon footprlnt to understand where Its maln emisslons were comlng from, and we then led a serles of Interactlve workshops wlth Its staff to detennlne a set of sultable targets and dlscuss prlorlty areas for actlon In a carbon reductlon plan. We gathered Input from employees to understand what could reallstlcally be achleved In the short term, and based on this, developed a detalled roadmap. This outllned speclfic actlons to be taken, set measurable goals, establlshed tlmellnes for completion, and asslgned responslbilities to different Beale & Co team membeA. We supported the team with a carbon offsetting briefing to hlghlight suitable pathways in line with chosen carbon reduction targets. Beale & Co now has a baseline carbon footprint, a set of ambltious but achlevable targets aligned with the SBTI, and a supporting roadmap highllghting short- and long-term actions to deliver on Its commltments. If the agreed targets are met, Beale & Co will achieve a 420/0 reduction in its direct emissions by 2030. "Bioregional pmvided invaluable support to help us undef5tand where our greatest carbon Impacts lie and where we can have the most impact as a service-based organisatlon. Thelr data-driven, but people-focused appmach helped slmplify the process and brlng our team along on the joumey. - Nathan Modell, Partner, 8eale & Co 13

Docusign Envelope ID: OFFC1088-AE184DDI-99D6-114554A6152E Bioregional Development Group (A Company Llmlted by Guarantee and Not Having Share Capital) Allegra Care operates care homes across central and southern England, providing dementia, respite, and end-of-life care. Allegra Care was tasked with translating its ESG commitments (created by Bioregional in 2022) Into action, with expectations from its investors to begin measuring and reportlng on its carbon footprint and sustainability goals. A priority was creating greater coordination across care homes, allowing more informed decision making, enhancing engagement and improving sustainablllty performance. 81oreglonal measured Allegra Care's scope l and 2 carbon footprlnt for the first tlme. We then led a collaborative process wlth the Executive Team to create a comprehenslve ESG action plan that wlll ensure Allegra Care meets Its sustalnablllty goals and reportlng requlrements for Its investors. Flnally, we developed ESG annual and quarterly report templates, streamllnlng the reporting process and ensuring conslstency in reporting standards. Allegra Care now has a robust scope l and 2 baseline, and a clear framework for best practice sustainability improvements and reporting, in line with stakeholder expectations. It also has a robust and ambitious sustalnablllty action plan, wlth prlorities aligned with Allegra Care's ESG strategy plllars. Helplng Cranfleld Unlverslty upsklll SME leaders In sustalnablllty Cranfleld Unlverslty Is a speclallst postgraduate unlverslty, wlth world-class expertlse, large- scale facilities and unrlvalled Industry partnerships that create global leaders in technology and management. It works In partnershlp with buslness, academiai govemments and other organlsatSons to develop and deliver applied research and Innovative educatlon In science, technologyi engineering, and management. Cranfield asked Bloregional to help It dellver Its Cllmate Attion Programme, a two-day tralnlng course deslgned for SME buslness leaders on how calculatlng carbon emisslons, settlng net- zero targets, and Implementlng decarbonlsatlon artlons can all drlve buslness advantage. We tralned elght SMES on effectlve and Impactful cllmate actlon for thelr buslnesses. They were glven practlcal advlce on how to get started on calculating their carbon footprlnts, settlng net-zero targets, and Implementlng carbon redurtlon actions. Course attendees benefitted from recelvlng bespoke advice that consldered their speclflc Industryi background, and progress in their sustainability Journey. "8ioreglonal helps SMES to understand the complexlties of carbon emissions and provide practical solutions ft>r understandlng and achieving net-zero targets. Their hands-on approach and dedication to sustainability empower business owners and managers to make meaningful changes. Participants leave wlth a clear, actionable plan to reduce their envlronmental impart, ensuring thelr businesses thrive sustainably in the long term. Martin Spiller. Senlor Lecturer in Entrepreneurship• Cranfield Universlty School of Management, 2024 14

Docusign Envelope10: OFFC1088-AE184DDI-99D6-114554A6152E Bioregional Development Group (A Company Limited by Guarantee and Not Havlng Share Capital) Launching UNEP / GlobalABC's Sustainable Building Materials Hub for global policymakers Buildlng materials are set to dominate resource consumption over the coming decades, and already have a conslderable envlronmental impatt. In 2021, the buildings and construction sector accounted for around 37 % of global energy-related emlsslons and the industry's raw materlal use.ls expected to double by 2060. To help the constructlon Industry to shlft towards more sustalnable materials and constructlon methods, we finished our projett SUPPOrting the development of UNEP (United Natlons Environment Programme) and GlobalABC's (Global Alliance for Buildlngs and Construction) Sustainable ildin Materials 'Hub' that is deslgned to help policymakers around the world tackle some of the most pressing sustalnablllty and environmental Issues linked to the building materials and construction industries. In the culminatlon of a two-year project, In September 2023, Bioregional chalred eblnar to offlcially launch the Hub alongslde UNEP and the GlobalABC durlng World Green Building Week. The Hub contalns over 200 resources - including tools, case studies, and policy guldance - that can ald pollcymakers in improvlng the environmental performance of the industry. In the first few months slnce launch, the hub has been vlslted by nearly 1,400 users from around the world. "As part of the GlobalABC's mlsslon to SUPPOrt governments and pollcymakers and advocate for the decarbonlsatlon of the bulldlng and constructlon sectors, the Materlals Hub Is a really Important step for us. Mona Mohammed, Programme Officer, UNEP Ufe Cycle Initiatlve Sustainable built environment Our sustalnablllty consultancy teams supported leadlng developers to deslgn truly sustalnable homes and communltles and advised local authorltles on thelr responses to the cllmate and ecological emergency. We worked with 13 developers and housebuilders on sustainability strategles for houslng-led, mixed-use development. Collectlvely these could deliver over 5,000 sustainable homes, as well as over 100,OOOm2 of sustainable commercial or communlty space. We supported 10 local authorotles In thelr plannlng and pollcy work. Over the next decade, our work wlll help dellver approximately 9,000 sustalnable homes per year as part of local authorlty growth plans. Helping local authorities tackle the climate and ecological emergency Royal Borough of Windsor and Maidenhead (RBWM) declared a cllmate emergency In 2019 and subsequently adopted an envlronment and climate strategy In 2020. Thls Cllmate Strategy Includes four key themes: clrcular economyi energy, natural envlronment and transport, whlch all covered key planning-related actlons. To meet the needs of RBWM'S new envlronment and climate strategy, Bioregional, working alongside partners Ed ars, created a Supplementary Planning Guldance document (SPD) whlch 15

Docusign Envelope ID: OFFC1088-AE18-4DDI-99D6-114554A6152E Bioregional Development Group (A Company Limited by Guarantee and Not Having Share Capital) focused on artlons across net-zero buildings, renewables requirements for newbullds and biodiversity net gain. Bioreglonal and Edgars have also supported Warwick Distrirt Council since 2021 with the creation of a Net Zero Carbon develo ment lan document DPD This included the evidence base to support the policies withln the DPD, along with support at the Ex min blic. Alongside this DPD, in 2023 Bioregional and Edgars were asked to develop an SPD to provide further detail on the implementation of the council's pollcles. After we created the two SPD documents, they were successfully consulted on In publlc. sp I￿LL￿ Is now on the path for adoption, and we're delighted to say that was unanlmously adopted by the Council in May 2024. Key policies include: Net-zero development: for new residential dwelllngs: a mlnlmum 630/0 reductlon In carbon emissions by on-slte measures In non-resldential bulldlngs, hotels and residentlal Instltutlons: at least a 35% reductlon in carbon emlssions through on-slte measures Zero- or low-carbon energy sources.. new developments require a 63% mlnlmum Improvement on the basellne, and a IOOO/o improvement where feasible. of Win o A mlnlmum biodiversity net galn of IOQ/o is required In all developments New developments are expetted to be able to exceed Bulldlng Regulatlons and achleve a minimum 350/0 reductlon in carbon emlsslons Contrlbutlons to be made to a carbon offset fund when net-zero carbon cannot be achleved through the deslgn, unless demonstrated to be unvlable Launching an Innovate UK-funded project to help counclls model the carbon impart of new homes We nched nlnn ro ec to enhance Bloreglonal's groundbreaking Net- Zero Living Spatlal Planning Tool, which was developed in partnership with Greater Cambrldge Shared Planning and Mode Transport Plannlng. The tool models the carbon impact of the constructlon and operation of new development, as well as associated 'ln-use' transport emissions, dependlng on the development's locatlon, the type of homes bullt, and the plannlng policies that are applled. It was se In developlng Its new Local Plan, which features some of the UK'S most climate-friendly plannlng policies and was approved by the Plannlng Inspectorate in April 2023. Thls demonstrated both the effettlveness of the tool and its potentlal to be used wldely by other local authorlties and polioimakers. Fundlng from Innovate UK, the UK Government-backed Innovation agencyi wlll enable Bioregional to partner wlth the architecture and urban planning consultancy Space Syntax, and local authority partners, to develop the next iteratlon of the tool, which already has a proven track record of supporting counclls to create evidence-based net-zero carbon Local Plan policies. This innovation project will bring together Bioregional's expertise in spatial carbon mapping with Space Syntax's Walkability Index. It wlll comblne and Improve our complementary models, which each apply spatial data science to local authority plan-maklng, with the aim of 16

Oocusign Envelope ID." OFFC1088-AE184DDI-99D6-.114554A6152E Bioregional Development Group (A Company Limited by Guarantee and Not Having Share Capital) reducing the carbon Èmissions generated by the future population of the UK by supporting local authority decislons concerning the location of future housing, employment, and soclal infrastructure. Comblnlng these models will create a robust digital solution for local authorltles, and in tlme, potentially, for prlvate developers. This project will transform the exlsting tools into an Interattlve dashboard, harnesslng the power of big data and geographlc Informatlon systems and enabling local authorltles to model the carbon Impllcatlons of new development more cheaply, accurately, and quickly than ever before. Creating sustainable communities with Rallpen and Socius Following on from our prevlous work, Bloreglonal was appolnted by Rallpen as the sustalnabillty champions on two new bulld schemes In Cambrldge - Botanlc Place and Devonshlre Gardens. The challenge was to ensure that both schemes integrated the hlghest posslble sustalnabllity targets and ambitions. In particular, Botanic Place has the ambltlon of belng the most energy efficient and Intelligent Innovation space In Cambrldge - this wlll be achieved by uslng deslgn features such as architecture that responds to the sun and Intelllgent ventilation systems bullt Into the faGade. Bioregional's role durlng thls phase Included tracklng the sustalnabillty commltments made at plannlng throughout RIBA Stage 4 of the deslgn, challenging and pushlng the design team to conslder the most sustainable options for the design, construction and end use of the buildings. We also led a cross-scheme reuse Inltlatlve that almed to explore the opportunitles to salvage, reuse and share demolition materials to be used in the construction of the new schemes. Botanlc Place's designs are estimated to reduce operational energy usage by 700/0 compared to traditlonal office bulldlngs. Additional deslgn features include: Overnlght heat release In warmer months, whlch wlll dlsplace warm alr from the day wlth colder evenlng air, passlvely cooling the building before the next day beglns A reversible system In colder months that can also harvest natural heat sources over time and carefully redlstribute It, reduclng the need for mechanical heaters Environmentally consclous buildlng materlals which use thermal mass to better absorb, store and release heat will be used to moderate internal temperatures o Approximately 400 solar panels on the roof to reduce demand on Cambridge's power networks In terms of material reuse, brlcks were salvaged from existing bulldlngs on Botanlc Place and wlll be transformed Into terrazzo tlles to be reused In the Interlors at Devonshlre Gardens. Other brlcks will be salvaged and used on Botanlc Place for a new garden wall for a local pub. Some of the trees that have been felled on Devonshire Gardens will be turned into furniture or landscape features for the site. Other building elements and materials that can't be reused in their original state wlll be repurposed and Integrated Into new bulldlng materlals such as concrete and bricks that wlll be crushed and used for piling mats and oversite. We also utilised our network of contacts within Cambridge to donate some bulldlng elements to charltable causes. Supporting Landsec on the sustalnable redevelopment of Lewlsham Shopplng Centre The redeveloped Lewisham shopping centre will be a multi-level site with an array of shops, restaurants, leisure facilities and new music venue, all bullt on the current site. In addition to 17

Docusign Envelope ID: OFFC1088-AE184DDI-99D6-114554A6152E Bioregional Development Group (A Company Limited by Guarantee and Not Having Share Capital) the shopplng centre, eight acres of publlc space will be delivered across multiple levels including a 6,800sqm park, new housing, and community facilities. Bloreglonal Is supporting on the circular economy strategy for the redevelopment, and creatlng material reuse opportunities across the site. We are also providing the whole-life carbon modelling, as well as general sustainability support, BREEAM and HQM pre-assessments. Bioregional worked with Landsec to create the sustainabllity strategy for the site, whlch covers performance against li topic areas, and key highlights so far include: o an asplrational embodled carbon target of <500kgC02 e/m2 (GIA) set for the first two blocks - this is the equivalent to London Energy Transformation Initiative (LEfI) band B target levels o there are plans to retain and retroflt key buildings such as Lewlsham House/Citibank, as well as slgniflcant retention of the exlsting Hlgh Street buildings the shopping centre wlll look to establish an 'AII Electrlc, and highly efficlent condltloning strategy, providing heating an(5 cooling simultaneously o Through Landsec's nature strategy, launched In March 2023, the scheme wlll improve blodlverslty, promote health, wellbelng, and community engagement by creatlng green spaces. and creating nature-based solutions to mitigate and adapt to climate change Awards edie awards 2024 - finallst: Consultancy of the Year edie awards 2024 - finalist: Net-zero Innovation of the year Events and dlgital reach: We chalred events reachlng over 300 attendees live. We shared our practical insights and Insplrlng stories with more than 2,000 people at regional, natlonal, and Internatlonal events Our webslte recelved 115,000 visltors Our free web resources were downloaded over 8,700 tlmes Our ne er SME buslness owners. has been made freely avallable and has now reached over 100 18

Docusign Envelope ID: OFFC1088-AE1840DI-99D&114554A6152E Bioregional Development Group (A Company Llmited by Guarantee and Not Havlng Share Capital) Our funders The trustees and staff would Ilke to place on record thelr gratitude to all the organisations and Individuals who continue to support the work of the charity. Our work would not be posslble without the support of our partners and funders. Thank you. Our partners in 2023124 A2Domlnlon Acorns Chlldren's HospSce Actlvate Learnlng AECOM Allegra Care Baker Street Quarter Partnership Beale and Company Bellway Homes British Heart Foundation Burlodge Bush Theatre Cambridge City Council Caterham Barracks Communlty Trust Central Llncolnshlre Authorities Cherwell Distritt Council Climate Partnershlp Coventry City Council Cranfield Unlversity Crescent Communities Edward Developments Essex County Councll GPF Lewls PLC Greencore Homes Isllngton Borough Councll Kingfisher Group Legal and General London Borough of Lambeth Councll Lamington Group Land Securities L'oreal Mackenzle Mlller Home5 Mamas and Papas Matter Real Estate LLP Mitchells & Butlers Natlonal Educatlon Unlon New West End Company NG Bailey Our grant funders In 2023124 Energy Savlng Trust Innovate UK Nottingham Clty Councll Oxford Brooks Unlverslty Oxfordshlre County Councll Peabody PHD Building Advlsory Limited Placefirst1SmSted Platform Housing Purlty Soft Drinks Radcliffe Housing Society Raven Housing Trust REDC Research Royal Borough Klngston upon Thames Royal Borough of Wlndsor & Maldenhead Rutland County Councll Selfridges Slnglta Socius South Cambrldgeshlre District Authorlty South Kesteven Dlstrlct Councll South Oxfordshlre and Vale of Whlte Horse Dlstrict Councils South Staffordshlre Dlstrlct Councll Specsavers Sue Ryder Surrey County Councll Sutton Councll Terra Firma The Portman Estate Troup Bywaters & Anders United Natlons Envlronment Programme Urban Equatlon Wagamama Warwlck Dlstrlct Councll West 8erkshlre Councll Whlttlngton & Flsherwlck PC Windmill The NatSonal Lottery Management and Governance Responslblllty for the organlsatlon Iles wlth Its trustees, who meet quarterly. Trustees regularly look at their skills sets and revlew, considering upcoming artivity, whether there is a need for tralnlng or whether the charlty could benefit from recrultlng addltlonal trustees wlth skllls or experience that may be valuable within the organisation. 19

Docusign Envelope ID: OFFC1088-AE18-4DDI-99D6-114554A6152E Bioregional Development Group (A Company Limited by Guarantee and Not Havlng Share Capital) All potential trustees are given a pack containing previous years, annual report and accounts, the charities memorandum and articles of association, and current 6ioregional work plan. They are also directed to the Charitles Commisslon guldance on the responsibillties of trustees. Prospective trustees are asked to declare they are eligible to be a trustee. They are also asked if they can see any conflicts of interest with being a trustee of the organisatlon. References are taken up. A vote of existing trustees is then taken on whether to offer a trusteeship. If the potential trustee Is backed by a majorlty of exlsting trustees, they are formally appointed as a trustee and director of the organlsation. At every annual general meeting one-thlrd of the trustees retire by rotation. The trustees that retire shall be the longest seniing trustees. Trustees may be reappointed on retirement. As part of trustee training and Induction, trustees are invited to In-house seminars, project update meetlngs and questlon and answer sessions to enable them to fully understand the projects and actlvlty of the charlty. A one-day buslness plannlng event Is held annually for all staff and trustees to review the prevlous year and plan the next five years alms and artivitles, together with quarterly strategic meetlngs to which all trustees are Invited. Oay-to-day responslbility for the runnlng of the charity is delegated to the Chief Executive, Sue Riddlestone, who Is a member of staff, and who Is Ilne managed by the Chalr of trustees. Decision-making responsibility is further shared by an executlve team of senlor staff. Fundraising Policy Bioregional's core fundralsing focus Is on trusts, foundations and grant making bodles. We do not use any thlrd-party fundraisers, but are registered wlth the Fundraising Regulator. and there have been no complalnts made against the charlty with regards to Its fundraising artlvltles. Typically, we apply for large grants of £IOO,000 and over, and these applicatlons are made for speclfic projects that wlll help us scale our Impact. Occasionally we apply to smaller funds for one-off projects or for match funding. We focus on trusts and foundations that list the envlronment, cllmate change, and sustainable behavlour and development as core priorities. For energy projects or projects focussed on the circular economy, we look for funders that support innovatlon and dlsruptive projerts. These are often government or EU funds, or large foundatlons with specific aims. The Dlrector of Finance and Resources ensures that all costs of the project have been covered, and to confirm that any rlsks of accepting the grant are fully considered. Financial Performance The financlal results relate to the perlod l April 2023 to 31 March 2024. The group's Income stood at £1,986,293, a 50/0 Increase from the £1,897, 797 income generated In the prevlous year. The demand for our servlces is stlll hlgh, however staff retentlon and recrultment remains a challenge due to demand for experienced staff with sustainability skills and a tight labour market. The following year will contlnue our focus in growlng our income, impact, and maintainlng the team. 20

Docusign Envelope ID: OFFC1088-AE184DOI-99D6-114554A6152E Bioregional Development Group (A Company Limited by Guarantee and Not Having Share Capltal) Breakdown of Bioregional's Income in 2023-24 £1,873,775, 94% 1 £75,998. 4/. £36,520. 2/0 Income Prol•¢ts Don8lons iftdothr Incorr* Total expenditure for the year amounted to £1,973,647 {2023: £1,856, 115), an Increase of £117,532 compared to the previous year. We continue to be vlgllant. Implementlng effective and robust processes and Internal controls to ensure efflclencles and value for money. Salarles for the key management staff are revlewed as part of the overall organlsatlon salary revlew. The key management staff conslst of the CEO, and three dlrertors. The salary revlew Is carried out by a remuneration subcommittee that consists of the Dlrector of Finance and Resources, Dlrector of Consultancy, and a member of the board of trustees. The salary review takes into consideration an annual uplift based on forecast inflatlon rates, a benchmarklng review of the sector, and predlcted Increases In the salaries market for the forthcomlng year. Proposals made by the remuneratlon subcommlttee are then consldered by the whole Trustee board for thelr approval. Bloreglonal Homes made a small surplus of £183 for the year, Thls was due to a correction made for interest charged on one of the loans Bloreglonal Homes has outstanding. Sustaining Chobham Community Interest Group received a loan In 2019/20 to part fund the costs for a plannlng application. Thls loan and the correspondlng Interest were written off by the lender durlng the year. As such there Is a £91,182 surplus in the year. Due to the unsuccessful plannlng appllcatlon for the slte In Chobham the company started wlnd up proceedings at the end of the year. The net result of the group for the year is a surplus of £104,037 (2023: surplus of £41,682). Excluding the charity's subsidiaries and a55ociates, the charity made a deficit of £9,080 for the year. Group surplus Adjustments for: Bioregional HorrEs suplus Sustaining Chobham CIC surplus Provision for inter corrpany loan Chaiity surplus 104,037 (183) (91,182) (21,752) (9,080) 21

Docusign Envebpe ID: OFFC1088-AE18-4DDI-99D6-114554A6152E Bioregional Development Group (A Company Limited by Guarantee and Not Having Share Capital) The deficit in the charity is a combination of delivering lower than forecast income and churn withln the team. The senlor team Is revlewing how to become more efficient at delivering income. The total funds of the group at 31 March 2024 Increased by 48% to £322,060 (2023: £218,022), of which £0 Is restricted (2023: £0). Risk Management We maintain a risk reglster and regularly review the risks likely to Impact our activltles. Changes in legislation have influenced sustainability projects and initlatives. Our strategy remalns to diverslfy our activlties to include new initiatives and new income streams in the comlng year. We are now focuslng our resources to speed up the change that Is urgently required for us to be able to live wlthln our planet's resources. We are also working with property developers to instigate sustainable and affordable new homes and communities. Reserves policy and going concern The reserves pollcy of Bloreglonal Development Group Is to have a mlnlmum of three months, unrestrlcted expendlture In unrestricted reserves, but the alm is to have slx rnonths, expenditure in reserve as the norm. We have prepared our reserves policy by looking at our forecasts for income and expenditure in the next financial year, taking a view on future needs and staff commitments, reliablllty of Income, contlngencles and rlsks and thelr Ilkellhood and consequences in line wlth Charlty Commlsslon guidance. We belleve thls pollcy Is a realistlc assessment of the needs of the charlty at thls.time and we wlll review It annually. Reserves allow us to operate effectively as most work is pald for in arrears. Thls buffer also enables a stable basis for growth and would allow us to meet our commitments If there was to be a fundlng shortfall. Often statutory fundlng requlres Match fundlng to be claimed. We have an obllgatlon wlthln the financlal year to flnd thls match fundlng from other sources. If we are unable to obtaln match funding, we may require the use of reserves to meet the funder's commitment. During the year, reserves have been used to fund areas of our work where there was a funding shortfall. The free reserves balance (whlch Is calculated as unrestrlcted funds excluding deslgnated funds and fixed assets) at 31 of March 2024 for the group was £292,690 (2023: £208.705). This Is equlvalent to 2 months (2023: 1.6 months) of unrestricted expenditure. It is felt that 2 months of unrestrltted expendlture Is below what is a prudent level of free reserves, and there Is a growth plan In place to increase free reser4es to closer to 3 months, cover durlng the next flnanclal year, whilst balanclng the needs of our projects and the associated public benefit. Although free resen4es are currently below policy, the trustees malntain that the group is a going concern based on the charlty's secured Income and plpeline for the 2024125 financlal year. We use the organisation's ￿serveS to generate an unrestricted Income stream for the charity and have an ethical investments polloi. The income derlved from these investments is a by- product of the reserves. Reserves are Invested In a way that does not Impede thelr Intended use and are currently held as cash. Statement of trustees. responsibilities The trustees (who are also directors of Bioreglonal Development Group for the purposes of company law) are responsible for preparing the trustees, report and financial statements in 22

Oocusign Envelope ID: OFFC1088-AE184DDI-99D6-114554A6152E Bioregional Development Group (A Company Limited by Guarantee and Not Having Share Capital) accordance with applicable law and United Klngdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice). Company law requires the trustees to prepare financial statements for each financlal year which give a true and fair view of the state of affairs of the charlty and the group and of the Income and expenditure of the group for that period. In preparing these financlal statements, the trustees are required to: select suitable accounting policles and then apply them consistently; obsen4e the methods and principles in Accounting and Reporting by Charltles: statement of Recommended Practice applicable to charities preparing their accounts In accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102); make judgements and estlmates that are reasonable and prudent; state whether applicable United Klngdom Accountlng Standards have been followed, subject to any materlal departures dlsclosed and explained In the flnanclal statements; and prepare the flnanclal statements on the going concern basis unless it is inapproprlate to presume that the charitable company will continue in operation. The trustees are responslble for keeping proper accounting records that dlsclose wlth reasonable accuracy at any tlme the financlal posltlon of the group and charitable company and enable them to ensure that the flnanclal statements comply wlth the Companles Art 2006. They are also responslble for safeguardlng the assets of the charlty and the group and hence for taklng reasonable step5 for the preventlon and detectlon of fraud and other IrregularStles. Each of the trustees conflrms that: so far as the trustee Is aware, there is no relevant audlt Informatlon of which the group and the charitable company's auditor is unaware; and the trustee has taken all the steps that he/she ought to have taken as a trustee In order to make hlmselflherself aware of any relevant audlt Informatlon and to establlsh that the charltable company's audltor Is aware of that Informatlon. Thls confirmation Is glven and should be interpreted in accordance wlth the provlslons of s418 of the Companies Act 2006. The trustees are responslble for the malntenance and integrity of the corporate and financial information included on the charitable company's website. Legislatlon in the United Klngdom goveming the preparation and disseminatlon of financial statements may differ from leglslatlon in other jurisdlctions. Auditors A resolution to reappoint Azets Audit Services as auditors and authorise the Trustees to fix their remuneratlon wlll be proposed at the annual general meeting. Approved and signed on behalf of the Trustees on 25 June 2024. f)o¢ii81gned ty. "Er>xMrr.YKfX.40¥,'" Jonathan Griffin Trustee Chair 23

Docusign Envelope ID: OFFC1088-AE18-4DDI-99D6-114554A6152E Bioregional Development Group (A Company Limited by Guarantee and Not Having Share Capital) Independent Auditor's Report to the Members of Bioregional Development Group Opinion We have audited the financial statements of Bloregional Development Group (the 'charitable parent company,) for the year ended 31 March 2024 which comprise the group statement of financlal activities, the group and charitable parent company balance sheets and statement of cash flows and the notes to the flnanclal statements, Includlng significant accountlng policies. The flnancial reporting framework that has been applied in their preparation is appllcable law and United Kingdom Accounting Standards, Including FRS 102 The Financlal Reporting Standard applicable in the UK and Republlc of Ireland (Unlted Kingdom Generally Accepted Accounting Practlce). In our oplnlon, the financlal statements: glve a true and falr vlew of the state of the group's and of the charitable parent company's affairs as at 31 March 2024 and of the groups income and expenditure for the year then ended; have been properly prepared In accordance wlth United Klngdom Generally Accepted Accountlng Practice. and have been prepared in accordance wlth the requirements of the Companies Act 2006. Basis for opinlon We conducted our audlt In accordance wlth International Standards on Auditing (UK) (ISAS (UK)) and appllcable law. Our responsibilitles under those standards are further described In the Auditor's responslbllltles for the audit of the financial statements sectlon of our report, We are independent of the group in accordance with the ethlcal requlrements that are relevant to our audlt of the financial statements in the UK, Includlng the FRC'S Ethlcal Standard, and we have fulfilled our other ethlcal responsibilities In accordance with these requlrements. We belleve that the audlt evldence we have obtalned Is sufflclent an(i appropriate to provlde a basls for our opinion. Conclusions relatlng to going concern In audlting the financial statements, we have concluded that the use of the golng concern basis of accounting in the preparatlon of the financlal statements Is approprlate. Based on the work we have performed, we have not Identlfied any materlal uncertalntles relating to events or conditions that, individually or collertively, may cast signifscant doubt on the group or charltable company's ability to continue as a going concern for a period of at least twelve months from when the financlal statements are authorised for issue. Our responslbllltles and the responslbilities of the with respect to golng concern are descrlbed In the relevant sections of thls report. other information The other informatlon comprlses the informatlon Included In the annua5 report other than the flnanclal statements and our audltor's report thereon. The are responslble for the other information contained wlthin the annual report. Our opinion on the flnancial statements does not cover the other information and we do not express any form of assurance conclusion thereon. Our responsibility is to read the other information and, in doing so, consider whether the other information is materlally inconsistent with the financial statements or our knowledge obtained In the course,of the audlt, or otherwlse appears to be materially mlsstated. If we Identify such materlal Inconsistencles or apparent materlal mlsstatements, we are requlred to determine whether thls gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a materlal misstatement of this other information, we are requlred to report that fact. We have nothing to report in this regard. 24

Docusign Envelope ID: OFFC1088-AE18-4DDI-99D6-114554A6152E Bioregional Development Group (A Company Limited by.Guarantee and Not Havln Share Capltal) Matters on whlch we are required to report by exception We have nothlng to report In respect of the followlng matters In relation to which the Companies Act 2006 requires us to report to you if, in our opinion: the information given in the financlal statements is inconsistent in any material respect with the report. or sufficient accounting records have not been kept; or the financial statements are not in agreement with the accounting records. or we have not received all the information and explanations we require for our audlt. Responsibilities of trustees As explalned more fully In the statement of responsibllltles, the trustees are responslble for the preparatlon of the flnanclal statements and for belng satlsfied that they glve a true and falr view, and for such internal control as the determlne15 necessary to enable the preparation of flnanclal statements that are free from materlal mlsstatement, whether due to fraud or error. In preparlng the flnancial statements, the trustees are responsible for assesslng the group's and the charltable company's ability to contlnue as a golng concern, dlscloslng, as appllcable, matters related to going concern and uslng the going concern basis of accountlng unless the either Intend to cease operations, or have no reallstlc alternative but to do so. Auditor's responsibllities for the audit of the flnanclal statements Our objertives are to obtain ￿asOnable assurance about whether the financlal statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an audltor's report that includes our opinion. Reasonable assurance is a hlgh level of assurance but is not a guarantee that an audlt conducted in accordance wlth 15As (UK) will always detect a materlal mlsstatement when it exlsts. Mlsstatements can arise from fraud or error and are considered material If, Indlvldually or In the aggregate, they could reasonably be expected to Influence the economlc declslons of users taken on the basls of these flnanclal statements. A further descrlptlon of our responsibilitles is avallable on the Flnancial Reportlng Council's webslte at: https:Ilwww.frc.org.uk/audltorsresponsibilltles. This descrlptlon forms part of our audltor's report. Extent to whlch the audlt was considered capable of detecting irregularlties, including fraud Irregularltles, Including fraud, are instances of non-compllance with laws and regulations. We design procedures In line with our responslbllltles, outlined above and on the Flnanclal Reporting Councll's webslte, to detect materlal mlsstatements in respect of irregularSties, including fraud. We obtain and update our understandlng of the entityi Its actlvltles, Its control envlronment, and Ilkely future developments, including In relatlon to the legal and regulatory framework applicable and how the entity Is complylng with that framework. Based on thls understandlngi we Identlfy and assess the rlsks of materlal mlsstatement of the flnancial statements, whether due to fraud or error, deslgn and perform audlt procedures responslve to those rlsks, and obtain audlt evldence thatls sufficlent and appropriate to provide a basis for our opinion. Thls Includes consideration of the risk of acts by the entity that were contrary to applicable laws and regulations, including fraud. In response to the rlsk of Irregularltles and non-compliance with laws and regulations, including fraud, we designed procedures whlch Included: Enqulry of management and those charged with governance around artual and potential litigation and claims as well as artual, suspected, and alleged fraud; Assessing the extent of compliance with the laws and regulations considered to have direct material effect on the financial statements or the operatlons of the company through enquiry and inspection; 25

Docusign Envelope ID: OFFC1088-AE18-4DDI-99D6.114554A6152E Bioregional Development Group (A Company Limited by Guarantee and Not Having Share Capital) Revlewing financial statement disclosures and testing to supporting documentatlon to assess compliance with applicable laws and regulations. Performing audit work over the risk of management blas and overrlde of controls, Including testing of journal entries and other adjustments for approprlateness, evaluatlng the business ratlonale of significant transattlons outside the normal course of business, and reviewing accounting estimates for indicators of potential bias. Reviewing mlnutes of meetlngs of those charged with governance. Because of the inherent limitations of an audlt, there Is a rlsk that we will not detect all irregularities, including those leadlng to a material misstatement in the financial statements or non-compllance wlth regulatlon. This risk Increases the more that compliance with a law or regulation is removed from the events and transartions reflected In the financlal statements, as we will be less Ilkely to become aware of instances of non-compliance. The risk of not detertlng a material misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve collusion, forgeryi intentional omissions, misrepresentations, or the override of internal control. Other Matters Your attentlon Is drawn to the fact that the charlty has prepared financial statements In accordance wlth "Accounting and Reporting by Charities: Statement of Recommended Practlce appllcable to charitles preparlng their accounts In accordance with the Flnancial Reportlng standard appllcable in the UK and Republlc of Ireland (FRS 102)" (as amended) In preference to the Accountlng and Reporting by Charities: Statement of Recommended Practlce Issued on I April 2005 which is referred to In the extant regulations but has now been wlthdrawn. Thls has been done In order for the flnanclal statements to provlde a true and falr view In accordance with current Generally Accepted Accounting Practice. Use of our report Thls report Is made solely to the charltable company's members, as a body, In accordance wlth Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the charltable company's members those matters we are required to state to them In an auditors, report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responslblllty to anyone other than the charltable company and the charltable company's members as a bodyi for our audlt work, for this report, or for the oplnlons we have formed. Sl8ned bv: Sam Thomas (Senior Statutory Auditor) for and on behalf of Azets Audit Services 4ts* Irair 3 statutory Audltor 16/07/2024 Trinity Court 34 West Street Sutton Surrey United Kingdom SMI ISH 26

Docusign Envelope ID: OFFC1088-AE18-4DDI-99D6-114554A6152E Bioregional Development Group (A Company Limlted by Guarantee and Not Having Share Capital) Consolidated Statement of Financial Activities (incorporating an income and expenditure account) for the year ended 31 March 2024 Totals Totals Notes Unrestricted Funds Restrlcted Funds 2024 2023 In¢om• tbnations 1.683 1,683 3.425 Incon* from charltable actIv￿leS". Advisory incorre Projects 1,873,775 1,873,775 75,998 1,817,510 40,350 75,998 Inco￿ from Investrrent other Incon 79 34.758 79 34,758 447 36,065 Total Income 1,910,295 75,998 1,986,293 1,897,797 Expendlture Charltable activltles 1,900,049 75.998 1.976,047 1,835,212 Ralslng funds: Other trndlng actlvltles 19 (2,400) (2,400) 20.903 Total Exp•ndlture 1,897,649 75,998 1,973,647 1,856,115 Net •xp•ndlture before galns and losses on Investments Il646 12,646 41,682 Release of thlrd party loan In tradlng subsidk4ry 13 91,391 91,391 Net expendlture and net movement In funds 104,037 104,037 41,682 Fund balances at l Apdl 218.022 218,022 176.340 Fund balances at 31 March 14 322.059 322,059 218,022 All amounts relate to contlnulng'actlvitles. All recognised gains and losses during the year are incorporated in these figures, For comparatives to the previous financial year, see note 18 The notes on pages 31 to 48 form part of these financial statements. 27

Bioregional Development Group (A Company Limited by Guarantee and Not Having a Share Capltal) Balance Sheets as at 31 March 2024 Group Charfty Not¢5 2024 2023 2024 2023 Fixed Assets Intan9ible assets Tanglble assets InVest￿￿ntS 14,756 14,614 14,756 14,614 9,317 9,317 io 29,370 9,317 29,371 9,318 Current Assets Debtors Cash at bank and In hand li 566,296 253 015 819,311 591,594 216 529 808,123 566,296 253 015 819,311 611,132 216 094 827,226 Creditors: am)unts falllng due wlthln one year 12 (526,622) (265,480) (269,100) (247,877) Net Current Assets 292,689 542,643 550,211 579,349 Tot•1 Not Assets 322 059 551 960 579 582 588 667 Creditors: an￿untS falling due after one year 13 (333,938) Total Assets less Total Uabllitles 322 059 218 022 579 582 588 667 Capltal and Reserv•8 Restrtcted funds Unrestrfcted funds 322,059 218,022 579,583 588,667 Total Funds 14 322 059 218 022 579 583 588 667 The financial statements were approved by the Board of Trustees and signed on 25 June 2094. rjo¢uS49￿Qd AgtfiSfi?&"i4ftMfi4,,. Trustee - Chair (mc.(pTiir)I'18rt4£B.',. Sarah Kemmitt Trustee - Treasurer Company Registration No. 02973226 (England and Wales) Charity Registration No. 1041486 (England and Wales) The notes on page 31 to 48 form part of these financlal statements 28

Bioregional Development Group (A Company Limited by Guarantee and Not Having a Share Capital) Consolidated Statement of Cash Flows at 31 March 2024 Group 2024 2023 Notes Cash flows from operatlng actlvitles: Net cash provided by/{used In) operatlng actlvltles 155,935 (139,443) Ca'sh flows from investlng actlvltles: InVest￿ent Incotre and interest recelved Purchase of tènglbk flxed assets Purchase of Intanglble flxed assets Net cash generated/(used) In Investlng artlvltles 79 (11,112) (14,756) (25.789) 447 447 Cash flows from borrowlng actlvltles Cash outflows fmm bomwings Thlrrl party loan In subsidiary wrftten off (2,268) (91,391) 13,620 Chang• In c•sh and ¢a$h ¢qulvalents In the year 36,486 (125,376) Cash and cash equlvalents at l Aprfl 216,529 341,905 Cash and cash equfvalents at 31 March 253,015 216,529 Not•• to the statement ol eash flo5￿ for th• y•ar to 31 M•rth: Reconclllatlon of net movement In funds to rtet cash ￿￿d In operatlng •rtlvltle8 2024 2023 Net movement In funds (as per the statement of flnanclal actlvltles) 104,037 41,682 Adjustments for. Cepreclatlon charye Arrortlsatlon charrje Investrrent Incor￿ and Interest recelvable L*crease In debtors Inc￿aSe In C￿dItorS Net cash provlded byl(used In) operntlng actlvlties 5.816 8,599 7,504 (447) (87,549) (109,232) (139,443) (79) 25,298 20,862 155,935 Analysls of cash and cash equlvalents 2024 2023 Total cash and cash équivalents: Cash at bank and in hand 253,015 216,529 29

Bioregional Development Group (A Company Limited by Guarantee and Not Having a Share Capltal) Analysis of Changes In net debt At l April 2023 216,529 216,529 (333,938) (333.938) Cash flows At 31 March 2024 253,015 253,OlS (240,279) (240.279) Cash at bank and in hand 36,486 36,486 93,659 93,659 Loan5 falling due after more than one year Total {117,409) 130,145 12,736 30

Bioreglonal Development Group (A Company Limited by Guarantee and Not Having a Share Capital) Notes to the Financial Statements for the year ended 31 March 2024 STATEMENT OF ACCOUNTING POLICIES The principal accounting policies adopted, Judgements and key sources of estimation uncertainty in the preparation of the financial statements are laid out below, presented in sterling, and rounded to the nearest thousand pounds. Basis of preparation These financial statements have been prepared for the year to 31 March 2024 with comparative information presented for the year ended 31 March 2023. The financlal statements have been prepared under the historical cost conventlon with items recognised at cost or transaction value unless otherwise stated in the relevant accounting policies below or the notes to these financlal statements. The financial statements have been prepared in accordance with Accounting and Reporting by Charities: Statement of Recofflmended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102) (Charitles SORP FRS 102) issued on 16 July 2014, the Flnancial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006. The charlty constitutes a public beneflt entity as defined by FRS 102. Basis of consolidation The statement of financial activities and balance sheet consolidate the financial statements of the charity and its wholly owned group undertakings (Ilsted below) made up to the balance sheet date. Bioregional Homes Limited. A company limited by share capital and incorporated on 17 January 2018. Sustalning Chobham Communlty Interest Company. A company limited by guarantee without share capital. This entity was incorporated on 17 December 2018 and was dormant from incorporation to 31 March 2024. The results have been consolidated on a line-by-line basis and intercompany transactlons eliminated in full on consolidation. The charity holds 33.65% of the share capital in Bioregional Mlnlmills (UK) Limited. In accordance with FRS 102 this assoclate Is accounted for uslng the equity method. As at 31 March 2024, the charlty also held 9% of the share capital in One Planet Di9ltal Limited. No separate statement of flnancial actlvities has been presented for the charity alone as permitted by the Companies Act 2006. Crltical accounting estimates and areas of judgement Preparation of the financial statements requires the trustees and management to make significant judgements and estimates. The items in the financial statements where these judgements and estimates have been made include: 31

Bioregional Development Group A Company Limited by Guarantee and Not Having a Share Capital) estimating the liability for multi-year project grants, including how much income to defer or accrue and how much income to recognise in the current period estimating the overhead cost apportioned to each department and charged to the trading subsidiary Bioregional Homes Ltd estimating the useful economlc life of tanglble fixed assets, estimating the useful economic Ilfe of uitangible fixed assets; and estimating future income and expenditure flows to assess the impact of the Covid-19 pandemic on the group and charity's financial position and hence on going concern. Assessment of going concern The trustees have assessed whether the use of the golng concern assumption Is appropriate In preparing these financial statements. They have made this assessment in respect to period 12 months from the date of approval of these financial statements. This was done by reviewing the amount of secured income for 2024125 at 31 March 2024 and the 2024125 income pipeline. The sector contlnues to see growth whlch has continued the Increase in demand for our seniices and we are confident we can reach our income target for 2024-25, The trend of increasing demand for our services is forecast to continue due to carbon reporting becoming mandatory, and the UK'S policy to achieve net-zero carbon emissions by 2050. The biggest challenge Is recruiting experlenced staff in what Is a very competitive Job market. Trustees have also considered the level of reserves of the group, along with the long-term funding agreements in place, the current income pipeline, and the ability to reduce costs swiftly. Taking all this into account they are of the opinion that there are no material uncertainties related to events or conditlons that may cast significant doubt on the abillty of the group and the charlty to contlnue as a going concern and the group and charlty wlll have sufflclent resources to meet Its Ilabilities as they fall due. Income recognition Incorne is recognised in the period In which the group and the charity has entitlement to Income, the amount of the Income can be measured reliablyi and It Is probable that the income will be recelved. Advisory income Income from advisory activities is included in the period in which the company is entitled to receipt. It is measured at the fair value of the conslderation recelved or receivable, excludlng value added tax. Pmject Income from projects comprlses grants. This income Is credited to the statement of financial activities when the group is entitled to the income unless it relates to funding for specific future periods either via explicit or implicit time conditions within the grant agreement. Grants which are subject to specific performance conditions are recognised when the performance conditions for their receipt have been met. Donations Donatlons are recognlsed when the charity has confirmation of both the amount and settlement date. In the event of donations pledged but not received, the amount is accrued for where the receipt is considered probable. In accordance with the Charities SORP FRS 102 volunteer time is not recognised. 32

Bioregional Development Group (A Company Limited by Guarantee and Not Having a Share Capital) Investment income Income receivable on deposits Is recognised on an accruals basis. Expenditure Expenditure is included in the statement of flnanclal attivities on an accruals basis net of any irrecoverable value added tax. The cost of charitable activities is all expenditure directly relating to the objects of the charlty. Direct and support costs are allocated across the different activities and are allocated based on the approximate time spent on each activity. Governance costs are all costs attributable to the management of the charity's assets, organisation, business plannlng and compllance with constitutional and statutory requirements. Liabilities are recognlzed as expenditure as soon as there is a legal or constructive obligation committing the group and the charity to make a payment to a third party, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Fund accountin9 Followlng the requirements of the Statement of Recommended Practlce all the funds of Bioreglonal Development Group have been analysed over the dlfferent types of funds, whlch are: Restricted funds Restricted funds are those where the donor has imposed restrictions on how the fund may be used, but which do not prevent the fund being spent. Unrestricted funds Unrestrlctecl funds are those whlch are not subject to any special restrlctions and they can be used as the trustees decide. Designated funds are part of unrestrlcted funds and are amounts the trustees have set aslde to cover particular expendlture. Leases Payments under operating leases are charged to the statement of flnancial artivities in equal annual instalments over the period of the leases. Tangible fixed assets Where individual fixed assets exceed a value of £1,000 or a bulk purchase of fixed assets exceeds £1,000, they are capitallsed. They are stated at cost, which rep￿SentS thelr purchase cost together with any incidental costs of acquisition less accumulated depreciation. Depreciation is provided at the following annual rates in order to write off each asset over its useful life. Office equipment Computer equipment Fixtures and fittings 330/0 Straight line 33 % straight line 20V/o Straight line Intangible assets The intangible assets relate to the development of the website and One Planet Digital platform. Amortisation is provided at the followlng annual rates In order to write off each asset over its useful life. Website development costs 25Qlo Sti-aiyl)I li1)¥ 33

Bioregional Development Group (A Company Limited by Guarantee and Not Having a Share Capital) Investments Investments in subsidiary companies are valued at cost. Investments in associates have been accounted for using the equity method. Debtors Debtors are recognised at their settlement amount, less any provision for non-recoverability. P￿payMentS are valued at the amount prepaid. They have been discounted to the present value of the future cash receipt where such discounting is material. Cash at bank and hand Cash at bank and hand represents such accounts and instruments that are available on demand or have a maturity of less than three months from the date of acquisition. Credltors and provlslons Creditors and provisions are recognised when there is an obligation at the balance sheet date as a result of a past event, it is probable that a transfer of economic benefit will be required in settlement, and the amount of the settlement can be estimated reliably. Creditors and provlsions are recognised at the amount the group and the charity anticlpate it will pay to settle the debt. They have been discounted to the present value of the future cash payment where such discounting is material. Foreign exchange Monetary assets and liabilltles In foreign currencles are translated Into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterllng at rates ruling at the date of transactions. Exchange differences are taken into account In arriving at the net incoming resources for the year. Penslon costs The charity pays contributions to a deflned contrlbutlon scheme on behalf of staff. The pension costs are charged to the Statement of Financial Activities as the contributions fall due. Taxatlon The company Is reglstered with the Charlty Commission No. 1041486 and as such is exempt from taxation under S.SOS of ICTA 1988 on its charitable activities, 34

Bioregional Development Group (A Company Limited by Guarantee and Not Having a Share Capltal) OTHER INCOME Unrestricted Funds Restricted Funds 2024 2023 Recharges to One Planet Digital One Planet Uvlng@ Licen5in9 Fees Other Incorre Total 13,200 20,000 1,558 34,758 13,200 20,000 1,558 34.758 13,250 22,500 315 36,065 ADVISORY INCOME Unr¢•tri¢ted Funds Restrfcted Funds 2024 2023 Charitable Consultancy and contracting Educational tours, talks, and tralning and researc h Total 1,868,322 5,453 1 873,775 1,868,322 5.453 1,873,775 1,806,319 11,191 1 817 510 All advisory Income Irb 2023 was unrestricted. 35

Bioregional Development Group (A Company Limited by Guarantee and Not Having a Share Capital) PROJECT INCOME Unrestricted Restricted Funds Funds Total Total 2024 2023 One Planet Llvln9 Westrrill Solar Co-op s0ve￿Ign Housing Tnjst National Lottery 1,219 1,500 6, 786 6,414 6,414 Innovatlon Scaling- up deep retrofit for soclal landlords Affordable low carbon heating for Responsible Social Landk)rd's Innovate UK Net Zero Living Dlgltal Accelerator (251) 28,716 28,716 29,137 29,137 Core Skoll grant to pivot OPL Total 11,731 75,998 11,731 75,998 31,096 40,350 AII 2023 Income from projects was restrlrted. All the £40,350 of projert income was grant income. 36

Bloregional Development Group (A Company Limited by Guarantee and Not Having a Share Capital) TOTAL EXPENDITURE One Planet Living Advbory Bioregional Sustaining Homes Chobharn Total Total 2024 2023 Costs dlrectly allocated to activities: Staff costs 54,443 Project direct costs 17,387 1,084,218 204,623 1,138,661 219,610 960,871 301,953 (2,400) Support costs and shared costs allocated to actlvltles: P￿rriseS & office costs 8,967 142,724 Centrdl resources stalf costs 24,081 383,287 Corrmjnications 319 5,071 Professional servlces & consultancy Insurance & legal Travel & subslstence Arrortlsatlon & depreclatlon Qjvemance costs Audit fees 151,691 407,368 5,390 146,004 376.454 15,096 779 12,393 13,172 11,532 472 7,513 145 2,301 338 5.385 387 6,158 890 14,166 108,208 1,867,839 7,985 2,446 5,723 6,545 15,056 1,973,647 7,378 5,418 15,387 2,770 13,251 1,856.114 (2,400) Support costs are allocated across expenditure categories based on final FfE allocation for the year. Comparative figures for 2023 One Planet Llvlng Advlsory 8IoTeglonal Su•t•inlng Homes Chobham Tot•1 2023 Costs dlrectly jllocated to activities: Staff costs 66,537 Project direct costs 36,116 894,334 244,934 960,871 301,953 20,512 391 Support costs and shared costs allocated to activ•ties: Prerroses & offlce costs 8,631 137,373 Central resources staff costs 22,253 354,201 Communications 892 14,204 Professlonal seNlces & consultancy Insurance & legal Trdvel & 5ubslStence ArrDrtisation & depreciation G)vemance costs Audit fees 146,004 376,454 15,096 682 10,850 11,532 436 320 910 164 783 137,724 6,942 5,098 14,477 2,606 12,468 1.697,487 7,378 5,418 15,387 2,770 13,251 1,856,114 20,512 391 37

Bioregional Development Group (A Company Limited by Guarantee and Not Havin 6. NET (EXPENDITURE) a Share Ca ital) Net (expenditure) is stated after charying: 2024 2023 Staff costs (note 7) Auditorfs reTNneration'. Statutory audrt services Current year Other sen4ices:taxation senilces Current year Prior year C*preclatlon Arrortisation Surplus on sale of intangible assets Operating lease ￿ ntals 1,746,319 1,503,679 15,056 13,251 295 295 5,816 7,883 7,504 48,336 EMPLOYEE COSTS 2024 2023 Staff costs Wages and salaries Pension costs Soclal security costs 1.527,417 72,811 146,091 1,746.319 29 (27) 1,316,781 63,116 123,782 1.503,679 29 (27) Average Headcount of staff (FTE) Five employees received emoluments between £70,000 - £85,000 for the current year (Five in the previous year). No trustees received any remuneration in either the current or prior year. No (2023: none) trustees received reimbursements for expenses in 2024. The key management personnel of the group comprise the trustees and the leadership team made up of the Chief Executive Officer and the five {2023.. five) heads of department. Total employee benefits of the key management personnel were £509,854 (2023,. £451,466). 38

Bioregional Development Group (A Company Limited by Guarantee and Not Having a Share Capltal) . INTANGIBLE FIXED ASSETS Webslt•s OPAP Platforni OPL Goals & Guidance Framework Totsl Group and Charlty Cost At l April 2023 Additions Disposal At 31 March 2024 32,744 32,744 14, 756 6, 148 8,608 32,744 6, 148 8,608 47,500 Amortlsatlon At l April 2023 Charge for the year At 31 March 2024 32,744 32,744 32,744 32,744 Net book value: At 31 March 2024 At 31 March 2023 6, 148 8,608 14,756 TANGIBLE FIXED ASSETS Computer Flxtures and equipment ritt•ngS Plant & Other ' Equlpment Total Cost: At l April 2023 Additions 'sposal At 31 March 2024 48,437 4,593 850 4,865 638 1,655 49,925 11,112 53,030 5,715 2,293 61,037 Depreciation: At l April 2023 Dlsposals Charge for the year At 31 March 2024 39,503 467 638 40,608 4,941 783 1,250 92 730 5,816 46,424 Net book value: At 31 March 2024 At 31 March 2023 8,586 8,934 4,466 383 1,563 14,614 9,317 39

Bioregional Development Group (A Company Limited by Guarantee and Not Having a Share Capltal) 10. INVESTMENTS Subsidiaries One Planet Digltal BioRegional Minimills (UK) Total Cost At l Aprll 2023 Additions Disposals Share of after tax losses In associate At 31 March 2024 The investment in subsidiaries at 31 March 2024 represents the share capital In Bloreglonal Homes Limited. Net income/(expe nditure) for the year ended 31 March 2024 Net (Ilabollties) at 31 March 2024 terest held Bioregional Horres LinNted Sustaining Chobham CIC BioRegional Minimills (UK) Llffdted loo loo% 33% (280,060) 186 91,182 (1,349) {114,352) Bioregional Homes Limited aims to build One Planet Communities using the ten principles of One Planet Living@ in design, construction, and facilities management to achieve sustainable development - genuinely affordable homes that are zero-carbon, built from sustainable fflaterials, that encourage recycling* food growing and biodiversityi and communities that are great places to Ilve and work. The results of the company for the year ended 31 March 2024 are Included in note 19. Sustaining Chobham Community Interest Company is a Community Land Trust established In December 2018 to deliver and manage new affordable homes In Chobham. The results of the company for the year ended 31 March 2024 are included In note 20. BioRegional Minimills (UK) Limited alms to develop a small paper pulp mtll sultable for pulping local waste materials to reduce the pressure on world forests.

Bioregional Development Group (A Company Limited by Guarantee and Not Having a Share Capital) 11. DEBTORS Group 2024 Charlty 2024 2023 2023 Trade debtors Anyjunts owed by group undertaklngs Accnjed Incoffe and prepayffents Other debto 301,767 268,332 I,ioo 317,770 4,392 591,594 301,767 268, 332 20,638 317,770 4,392 611,132 260. 137 4,392 566,296 260,137 4,392 566,296 12. CREDITORS: falllng due wlthin one year Group 2024 Charlty 2024 Notes 2023 2023 Trade credito Other credltors Deferred incoffe VAT Liability Loans 84,285 34,677 72,280 95,100 240,280 S26,622 57,721 37,614 101,978 68,167 67,273 34,382 72,280 95,165 40,708 37,024 101,978 68,167 265,480 269, 100 247.877 Deferred Income conslsts of advlsory Income recelved In advance for serrflces still to be delivered. 13. CREDITORS: falling due after one year Group 2024 Charity 2024 2023 2023 Loans falling due after one year 333,938 333,938 Analysis of loans: Loans are repayable as follows: Within one year Between one and two years 8etween two and five years After five year5 240.280 333,938 240,280 333,938 41

Bioregional Development Group (A Company Limited by Guarantee and Not Having a Share Capital) Interest Balance Balance Rate Per at31 at31 Annum March March 2024 2023 Lender Inltlal Captlal Temis Unsecured and is repayable in 2024. Inte￿st on the loan is at the tirre the loan is repaid. Inte￿$t has been 146, 183 frozen from April 2022. Treebeard Trust li0,￿0 10% 146,183 UnSecu￿d and repayable on securtng planning pemission for at kasi one housing site. Inte￿st is paid at the tlrre the loan is ￿paId. Inte￿$t has been 67, 167 frozen since April 2022. The Marf¢ Leona Trust 52,000 io% 62.400 This loan was wdtten off by CAF Venturesorre as no slte was secured by Sustaining Chobham CIC which as a result 91,391 the corrpany has closed. CAF ventU￿$0￿e 70,000 iOO/o Unsecu￿￿ and ￿paYable on securfng plannlng perffis5ion for a site in Chobha Inte￿$t is pald at the tirrt the loan Is 5,875 repald. John Hoad 5,000 iOO/o 6.375 Unsecu￿￿ d1￿cto¢S loan whlch Is payable on sec urfno planning perTrlsslon for a slte In Chobham. Inte￿5t Is p8tO at 5,875 the tlrre the loan Is repa*J. Susan Rkldlestone 5,000 io% 6,375 Unsecured d1￿cto¢S loan which Is payable on securtng planning perTfission for a site in Chobham. Inte￿st Is pald at 5,854 the tiffe the loan Is repahj. Conlel Nlcholson io% 6,354 Unsecured and ￿paYatsIe on secudng planning pemlsslon for a slte In Chobham. InterEst is pa¢d at the tinE the loan is 5,719 ￿paId. Ronan Leyden s,000 io% 6,219 Unsecured and repayable on securfng planning pem'ssion for a site in Chobham. Inte￿$t Is pakl at the tirre the loan is 5,875 repaid. Rlchard Hutton 5,000 io% 6,375 Interconyany loan from the charity to "0￿g10nal Hoffes. UnseCu￿d and repayable on securing planning pethsslon for a site in ChobharrL Interest is paid at 19,538 the tirre the loan is repaid. Bioreglonal 17,51X) iovo 21.752 All loans relating the charities tradlng subsidlary Bloregional Homes are shown as current. This is due to the decision by the directors of Bioregional Homes to wind the company up during the next financial year. 42

Bioregional Development Group (A Company Limited by Guarantee and Not Having a Share Capital) 14. MOVEMENT IN FUNDS At l Aprll 2023 Income Expendlture Other Galns/ At 31 March {Losses) 2024 Restrkted funds One Planet Living Innovation Core Total restrlrted lund• 6.414 57,853 11,731 75.998 (6,414) (57,853) (11,731) (75,998) Total unrestrlcted funds 218,022 1,910,295 (1.897.649) 91.391 322.059 Total funds 218.012 1,986,293 (1,973,647) 91,391 322,059 Comparative movement in funds flgures for 2023 At l Aprfl 2022 Income Expe nditure At 31 March 2023 Restrirted funds One Planet Lfvlng Innovation Core Total restricted funds 9,505 (251) 31,096 40.350 {9.S05) 251 (31,096) (40.350) Total unrestricted funds 176,340 1.857.447 (1.815.765) 218.022 Total fvnd8 176,340 1,897,796 (1,856,115) 218,022 The purposes of the restricted funds are as follows: One Planet Livlng: We started a One Planet communities project in Abingdon UK project funded by the National Lottery, where we have worked to inspire widespread behaviour change across the town by making sustalnable living easier and more attractive. Innovatlon: The funds were used for research and development in how social landlords can viably retrofit their housing stock and to pioneer energy clubs to help deliver cheap green electricity to low-income households. Thls project was funded by The Energy Saving Trust. Core: These funds were used to support Bioregional during the Coronavirus pandemic and its office move. 43

Bioregional Development Group (A Company Limited by Guarantee and Not Havin 15. NET ASSETS BETWEEN FUNDS a Share Ca ital) Group Unrestricted funds Restricted funds Total Intangible assets Fixed assets Current assets Current liabilrties Long-tem liabilrties Total funds 14,756 14,614 819,311 (526,622) 14,756 14,614 819.311 (526,622) 321059 322,059 Charlty Unrestricted funds Restricted funds Total InvestThents Intangible assets Fixed assets Current assets Current liabilities Total funds 14,756 14,614 819,311 (269, 100) 579.582 14,756 14,614 819,311 (269,100) 579.582 Comparative net assets between funds figures for 2023 Group Unrestrlcted fund$ Restricted funds Total Intangible assets Fixed assets CuThent assets Cuffent liabilities Long-term Ilabllltles Total funds 9,317 808,123 (265,480) (333,938) 218,022 9,317 808,123 (265,480) (333,938) 218.022 Charity Unrestricted funds Restricted funds Total Investrrents Intangible assets Fixed asset5 Current assets Current liabllitles Total funds 9,317 827,226 (247,877) 588,667 9,317 827,226 (247,877) 588,667

Bioregional Development Group (A Company Limited by Guarantee and Not Having a Share Capital) 16. OBLIGATIONS UNDER LEASING AGREEMENTS The following payments are committed to be paid in respect of leased assets: Land and Building$ Group and Charity 2024 2023 Within less than one year Between two and five years More than 5 years 48,336 17. RELATED PARTY TRANSACTIONS During the year, the group undertook the following transactions with related partles: N•m• Oetails Value of transactlons durfng year Amount owed ts 810rn9lonal Dev¢lopment Group at 31 March 2024 2023 2024 2023 Bloreglonal MlnlMIIIs (UK) Umlted One Planet Dlglt•l Llmlted PAcharges Sustalnlng Chobham Consultancy/ cic charges Bioreglonal Homes Loan & Inte￿st to Llmited BH Loan to 8PMM 50.000 50.000 18,200 20,750 7,320 1,100 1,045 2,214 9,250 21,752 19,538 Indlviduals. shareholdlngs In group companles Sue Rlddlestone (CEO) Is the sole dlrector of Bloreglonal Mlnlmllls, has a 7.75% (2023: 7.750/0) shareholding in the company, and Is owed an outstandlng loan of £25,000 (2023: £25,000) by Bioregional Minimills. 45

Bioregional Development Group (A Company Limited by Guarantee and Not Having a Share Capital) 18. COMPARATIVE STATEMENT OF FINANCIAL ACTIVITIES Notes Unrestricted Funds Restrkted Funds Totals 2023 Income Donatlons 3,425 3,425 Incorre from chèrltable actlvltles: Aovlsory IncorrE Projects 1,817.510 1.817,510 40,350 40.350 Other tradlng actlvlt*s 19 Incon￿ from investrrent Other incon 447 36,065 447 36,065 Total Incom• 1,857,447 40,350 1,897,797 Expendlture Charitable aCtivit￿S 1,794,862 40,350 1,835,212 Raising funds: Other trddlng activities Share of after tax losses In assoclate 19 io 20,903 20,903 Total Expenditure 1,815,765 40,350 1,856,115 Net expendlture before galns and losses on investments (95,363) 4,538 (90,825) Goin on dlsposal of Investrrents io Net expendlturn and n•t movement In nds 41,682 41,682 Fund balances at l Aprfl 176,340 176,340 Fund balances at 31 March 14 218,022 218,022 46

Bioregional Development Group (A Company Limited by Guarantee and Not Having a Share Capital) 19. BIOReGIONAL HOMES LIMITED PROFIT AND LOSS STATEMENT Totals Totals Note$ 2024 2023 Turnover Cost of Sales Gross Profit 1,045 (17,428) (16,383) Adthnlstratlve Expenses 183 (4,834) Prof5t/ (Loss) Before Taxatlon 183 (21,217) Retained losses at l April (279,458) (258,241) Retalned losses at 31 March (279, 274) (279,458) 47

Bioregional Development Group (A Company Limited by Guarantee and Not Having a Share Capital) 20. SUSTAINING CHOBHAM COMMUNITY INTEREST COMPANY PROFIT AND LOSS STATEMENT Totals Totals Notes 2024 2023 Turnover Write off of loan Cost of Sales Gross Profit 91,182 (1.045) (1,045) 91,182 Adminlstratlve Expenses {391) Opernting Proflt/lLo$s) Before Taxatlon 91.182 (1,436) Taxation Operatlng Profit/{Los$) After Taxatlon 91,182 (1,436) Retalned losses at l Aprll (91,182) (89,746) Retalned eamlngs at 31 March (o) (91,182) 21. POST BALANCE SHEET EVENTS There were no post balance sheet events.

Bloregional Development Group (A Company Limited by Guarantee and Not Having a Share Capital) Legal and Administrative Information Constitution Bioregional Development Group was setup under a Memorandum and Articles of Association signed by its trustees on the 21 September 1994, and was registered as a charity on 4 October 1994 (charity number 1041486). Bioregional Group Development Group is a company limited by guarantee, registered in England and Wales with company number 02973226. Members, liability The liability of the members shall not exceed £10 each. Trustees During the financial year l April 2023 to 31 March 2024 and up to the date of approval of these financial statements, Bioregional Development Group's trustees were: Jonathan Griffin Treasurer: Sarah Kemmitt Trustees: Jo Walton Sarah Redshaw Zoe Arden Jenny Hindley Johann van Dyke Rob Sauven Munish Datta Trustees are recommended and nominated by invitation and appointed by vote of existing trustees. Trustees serve a maximum of two four-year terms. The trustees act as directors of Bioregional Development Group. Registered Address Bioregional.Development Group Sustainable Workspaces 5th Floor County Hall London SEI 7PB Telephone: Email: Webslte: [phone] info biore IA Names and addresses of other relevant organisations are as follows: Banker Auditor Triodos Bank Deanery Road Bristol BSI SAS Azets Audit Services 34 West Street Sutton SMI ISH Patrons: Professor Sir Ghillean Prance, FRS, VMH Senior Management: Chief Executive Sue Riddlestone Director of Finance and Resources Tom Schuurman Director of Consultancy Ronan Leyden Director of Communications Patrick Clift 49