2023-03-31-accounts

WALES MILLENNIUM CENTRE (LIMITED BY GUARANTEE) GROUP ANNUAL REPORT AND FINANCIAL STATEMENTS YEAR ENDED 31 MARCH 2023 1te8i5ttie￿c0Mp3rt¥ Numbèr a221924 Charlty Numb2r 1060458 CANOLFAN MILENIWM CYMRU WALES MILLENNIUM CENTRE

W8les Mlllennium Centre Iumited by Guarantee) Annual report and finèr￿131 statements Year ended 31 March 2023 CONTENTS statement of responsibility oftheTFustee50f Wale5 Millenniurn CentrelLimited byGuartnteEGroupl in respect of the Trvsiees. annval reLV)rt and thefillancial statements 25 Independent auditors, report tothe member50f Waks MilleTrTrium CentrelLimfted bY￿aranieeI 16 C¢nsolidatsdstatement otfinanclal artmt*slin¢l￿lng Inc¢mtr& expenditureaccountl 28 Consoll(Saied balance Sheet 29 Company balin￿ sheet ao ConsolldJte¢ cash flow statement 31 Con501idated tkotes tothe financial statemenis 32 CANOLFAN MILÈtrIiwM ¢YMRV VIALÉSMILLENNIUM CENTRE

Wales Millennlum cent￿ 1￿MIted byGuaranteel Annual report and financial Statements Year ended 31 Marth 2023 TRUSTEES, REPORT This report const￿￿¢$the 5trate8ic Report andthe Direcrors, report requirecl underthe CompaniE5Act 2(Mi6. Ref•rethE•and •dMkn1strat￿dÈIaI1s Charmy Name.. Wales Mlllwnium Cemre ILlmlted trrfGuèranteel ChDrlty ioftsiJ Comparty NL#nber.' 3221924 co￿NIty#f lTr[orpora￿0Th.'W3leS Mr P SWIn￿l￿ Secretsiie5 Mr G Rfilsley Southgate House Woodslreei Cardlff CFIO IEW PrfThclpal addw$d ￿l5¢ere￿off￿e Bute PLHce CardlfF B Cardlff CFIO SAL Indeptndtnt audlto External.. BPU LtdChrtered I￿oUntsnts Aadnor House Greenwwd Close Cardlff CF23 8A4 IntErn&l'. ft5M Suiie 205 RegusHouse M¥llhou5e Avenue Caidlll Gate BU￿neSS Park Cardiff CF23 8RU B•hkevs Lloyd5 gankln8 GrDUP l Queen sireei Cardfff CFIO 2AF Solkors t>uMfr￿5 House Oumfrles Place Cardlff CFIO 3ZF Speciw115tA55et Man4èr rasin & partner5 LLP Juxofj House l(K)St Paul's Churchyard London EC4M 8 M•n•£iniDlredor•hlothtrSenknr5talf.. Mathew Milsorn. Managing Olrector tsfaerne Farrow, ArtiStK an¢ Creive Dlrethor Elizabeth Burris, Finano & Corporate5erritrsDitECtor Sian Mooan. Dire£torof Development and PartnershSps CAtrIOLFAN MILENIWM CYMPU WALES MILLENMlV* ceN¥R

Wales MillerTrnium Centre (Llmlted by Guarantsel nnual reportand finantial statements Year ended 31 March 2023 TRUSTEES, REPORTi(onti ftuedl Strurtyre.8overnarKe and mana8omeht Ll The Trustetswho held officedurfn8theye3r upto Ihedate of approvaloftheflnanclalst3tements were asfollows.. F￿na￿tr+ Ccmmlttee Governance & Compensaikn Comrnttthe Peter Swlnburn Carol Bell IretlresDe¢ember 2023 GeraiDtAnderson Ireiires November 20231 Rits Sln8h Joanna Rees Nltky Goulder Amit Kachawaha RhodriTaffan Da￿e5 Nan Wlllams. [ap￿ntedjU￿ 20231 'doe5 not have any CoMrn￿ee metnbership wr(h thevarlous memters of the l￿arddUe to re5i8n in the 2023124 financbl Year. trustee recruTrtmentcontlnues. Aspart of th55 prace5S, wèwill seekto further diversify the COrnPD5ition and enh3n¢e the skillsel of the board. Given thE signlflcant capltal projects pllinned for dell¥ery in the coming year& expertI5eln ca￿tal projectsand fundraisin8 wlll be sou8hL aswella5 expertlsÈtD help u5 furtherdevelop our digital strategy. The Board ￿c08n￿les the Impmance of effert￿e corporate Bovernantr. According￿. It has established a nutnber of Convnlttees thai meet on a re8ul•r basis. appropriate io the need of the ChAfity- The followln8 Committees produce recommenditions to the full Board in accordance with thelr ierms of reference and met with thefOll￿￿n8fle9UeTh¢Y.' FIna￿￿ &Audlt COMM￿¢ Governance & RemumewatlDDCammth• rter Oi4nnual Board and allsub¢ommitteemeetln8s In 2D22123 contlnued to be condutted ina hybrid format. 2.2 Theappoinimentof newTrustee5totheeoard Is rherespofisibllltyofthe mernbers.whoreceiverecommendationsfromtheGovernanceandCotTrpensation Cornrnlttee. The composillon of the Board reflects the balance of skills and attribLrte5 needed at any p8rti¢u18r time to oversee the management and opÈraiion Df the Charity, whllst havln8 regard for the n￿OI0r3 dfverytyof Trustees. The rde of the G¢Yemance& Compensation iommittee Is toensu that thls balance Is maintained. Theforrnal procedure forlnduttingall newTruslees Intothew8anisatv)n Invdves me￿Ing$ &￿th the Chalrman Of theBoard. cu￿e￿tT￿stees, thesttatwc Leadership Telm, and other Senior staff as appropriate.Atour olihe f3cllit¥is S￿en as part of the Induttion pr(tess. In ad￿￿on, 311 Trusteesare provlded with a copy oFlheW3les Mlllennlum CentreTfU5tee5 Br￿fing PacK whth Irhtlude5.' Corporate GovemateStatement. Membershipand Term50f Referenceof Committees. Directors. Report and FiTrèncial Ststernentsforthe pr￿louS financial year. CurrentAnnual bvsine55 Plan and5 YearStratey¢ PLIn. Charity Cornmi551on Guidan￿ Noie CC60-HalltTrark5 of an EffectivEChaDty IEn8llshlCymraègl. Charlty CDmmiss¢n Guid8Trce Note CC3- ReSP￿S￿bIlItIes0f Charlty Trustees IEnglishlCymrae81. CharityCommls￿0n Guidance Note CC8- Inteinal Flnanclal CoTrtro15 forcharltles IEnglish/Cymrae81 StrUEkurryS•￿rn1l￿e •nd Mo4￿6¢￿¢￿t wa￿5 MIlPeDniurn Centrds TiusieÈs Codeof Condurt Incorporating Board pOl￿e5. Summaryof Or8anisatlon siructure. ContHLt knst of Tiu#eesandSenior Man3gement.'and Summaryof Re51dentorga￿satIonsarXl bllefte￿S0f agreement with w3￿MIllennIum Centie. CAMOLFAN MILENIWM CYMRU Y+ALf5 MILLEf4HIuMcEMTILE

Wale5 MSllennium Centre 1￿MIted by Guar&nteel Annual report and financial staternent5 Year ended 31 March 2023 TRUSTEES, REPORTI contlnuedj Trustees a55e55 theircurrent skills and theirtralnSng needson an annual b351s and wbere ne£essary appropriate tTalnlng proBrarnmes are developed And iMp￿rnented. The Board'5 membership includes those with appFoprWe ptofe5$1onal experlence and knLwledge of the3tfÈ. art5. cutture. legal. estatès. commercial, finantr, Ind strategK business m?tters. The s￿￿(￿15 responslbieforapprovingoverall rrf)Ilcies, ￿an$. and orzanisatlonal prK)ritie5.The Strategic Leader5NpTeam of Charlty Is respDnslblefor LI￿ lilly￿111￿111￿l1U1l uf Lli¥ Jaid'5 pDiioe5 ano Tne rnana8emenrof Lharrtv. 2.4 The Charlty lsthe uttirnate parent undert3kin8 of three whollyowned Subs￿laries", Wales MilltnDium Centre (Tradinel Limited, WMC Productions Limtted. which is 100% owned bywales Millènnium Centre ITtsdinÈl Limited. and Wales Millennium Centre (Theatre) Limited. Wales Millennium Centre (Tradlngl Limited carrie5 Out non-charttable tTadln& actlvltles for the Charity. There is a deed of covenant in place between the Charity and Wèles Millenniurn Centre ITradine) Limited whereby the profit5 of Wale5 Mlllennium Centre (Tradingl Llmited are transferred to the Chartyby wayolcharltabledonaiion. I05ses Incurred by Ihelompanydu￿n¥lo20-2I were retalned in thecompanywSth allfvlure profrt5toberÈtained untilthe 10sse5 were recouped In full.Thetr3cling profit for2022-23 wassufficientto eliminatethe brou8htforw8rd ID55esof £169k. The remainingtradlng profit50f El.9m wlll be glfted to the paientcompany bywayof charrtable dona¢kn, WMC Productions Limited create5 productlonstDmmisyoDed by the Charity, W￿hthecharityp3vln8WMc ProduttionsLimited a commissbnill8feelorthis work. WMC comm1551Dned the product￿Tr of fovr shows duriDB th15 flnanclal year,. 7hE 8oy with Two Heorts. presented in Semember and (klober 2022, Christtnas Cabaret Theiion. 7fveBltchand rhe Wordrobe In December, grime show TheMoknn90[•Mon5tsr In November8nd we Iinallv 5ts1ed 0￿r W4sh languaBe pr(￿￿(lIonA￿fhtM in luty, h3vlnebeen postw)nedfrom March 2022. The total commissioning lee payable the year was £662k12022.£566kl. Wales MlllenniumCentrelTheatrelL1rnttedremaineddormantthr￿8hQutthe¥earCOverèdbVlhe$efinanC￿1St3temen1s.tt isanticSpated Ihaiihlstharitable cornpany will &ewme actlve In the next financlal year Js we pro8re55 our plans io build d nEW pro¢uaion fathiity, traininB facility and theatre In carorff. nffllTr8of aitlviiylsdependenton Cardlff Council approvingthe proposal attheir Council Meeiingin July 2023. 2.5 The8oardofTrust¢es is [e-mail]￿È, to piovlde re35onableassurance thai.. The Ch3rltyls operèiinKefficlendyand ef￿tIl￿￿, Itsass￿5 are safeguarded a￿lfist unauth0rl%￿ use or di5P0511ion,' PToper records are m3lntaified. and finarKlal Information used Within tharity, orforpubllcabon, is rellable,. TheCharity¢omplie5With re￿vanT lawsand regulat￿ns. In a5se551n8 what constltutes reasonable assurance, the Board has re8ard to the materiality of any re￿¥allt financ&31 risks., the IikellhoDd of such ri%ks crystalllsing and thE C05t and benellts ol particularaspects of the inttrrnal controlsVStem. The efFectweness Of Ihe system Df controlls revwed reÉuParly by the FinaTr￿ & Audit Committee. and objertlvely ￿vieWed through an iniem81 audit review proÉramme conducted by ex¢ern31 profe55Ional adw5Drs. Thè Internal3￿rt plan re5uffled durin82022-23withthree auditsbeineconducted.. GiftAid, procu￿ment andP3yroll and ioaddre55cybeF securityfisk.an securty assessment of our K¢icr050ft 365 software 15£urrently undetway. A iolling three-year programrneof WO￿ wlll beestab115hed durin8 the nextfinanclal ye3r, 2023124,with 6t least one Finance and ¢Je Cyber rekted audit prop)5ed each year. The Board has instltuted a formal risk management proce55 toassess buslnessri5ks and Implement rlsk manaBement strateOÈs. Thls Involves IdeMifyln8 Ihe type of risks the charity face5, priorltlsingthem in term5of potentlal impact and the likellhothl of Occurren￿ and kJèniifyin8 rnean5 of mIt￿atIng those risks. Management re8ularFy rewews or￿nisatIonal r1s￿, and the top 10 risks are ieoorted to. and reviewed by both the Flnance & Audit Comrninee Hnd the full rd. In addition, the adeou3¢y of the chariV5cur￿ThI internaliontr￿5l5 re8ulorfyrwryewed 35 part of this process. TheTrusteesarÈplea5edto reportthat the CttaritWs system of internalfinano31 Eonirds conform5to guidellnes issued bythe Ch?rSt¥Cthmmls9￿. frplk)wiii¥ ilJi￿VI￿￿ vri1￿ Il>k> TdLIIi¥ Lh￿Char￿.me eoaro ano mana8emeDi nave ioentiliell the wincipal r15k5and uncert8intvesrelatln8 to thechafity ihd havetaken appropnate 5reps, where possible.to rnitigatethern. The irnpactof theCDr¢nawru5 paDdemlc Is stlll beinRfEII. aDdwMhthe additional Challenges of the cost of Ilvln8 and Ènergy ¢rise5, risks to the organisation are re¥4ewed rrtnthly by the rnana8ement tea￿ The m31n ris￿ identthed are detalled I 5ectk)n 7 01 the Trurts rpport. In a&Jitlon. theTrustees have considered the 8uldancÈ lor Olrectors contalned Within the Cornblned Codtr. They believe thai alth¢yJ8h th15 15 not mandatory for the Charity. as a publlc Inierest bDty, It Should aspire tD thesè su￿211neS a5 best prattice. ancl the Charlty has incorporated the three main prinCip￿S of board leadershlpJ effectNeness, ènd accDunr4blllty inio itsth)rpuratE GDv2rnaD￿sIatemernt. As of 31 March 2023, WMC had a board of 9 Trustees. The Board effeaivene55 is rtyiewed on at least an anDual ba515. The Board comp051tion is formally assessed pretedinEthe aODOlntment of a new Iru5tee. toensure d￿￿rgity m31lltained/lmprovèd. ènd appropriate exp6rti5e 15 obtalned. Pecruitment of new members is thentar8ed. ID linewrth oure4ualltyStraW plan, toensureth3 diyerse bDard wth aFpropriate s￿1151$ mointainEd. CAÈIOLFAN HILENIWM CYNAU WALE5 MILLEtr4tr4ruM CENTRE

Wales Millennium Centre (Limited by Guarantee) Annual report and financial statements Year ended 31 March 2023

TRUSTEES’ REPORT (continued)

2. Structure, governance and management (continued)

----- Start of picture text -----
WMC (March 2023) WMC (March 2022)
Diversity data
Population of 9 Population of 9
Gender:
Male 44% 44%
Female 56% 56%
LGBTQ+ 0% 0%
Registered disabled 0% 0%
Black, Asian, and ethnically diverse 22% 22%
Religious affiliation 56% 56%
Age – 55+ 44% 44%
Welsh speakers 44% 44%
----- End of picture text -----

A quarterly reporting regime is in place between the Charity and its key stakeholder, Arts Council of Wales (ACW), along with formal quarterly review meetings and an annual review. The quarterly reviews have been paused until after the outcome of the investment review has been announced. During the annual meeting, senior leaders of WMC and ACW assess performance against agreed objectives and validate objectives for the coming year WMC has met the key objectives set with ACW and has set out objectives for the future to deliver on our vision but also the criteria of the investment review.

In addition to these regular meetings both the Managing Director and Artistic Director had very positive first meetings with the new ACW Chief Executive in which they shared future plans and challenges post-pandemic. A joint meeting with ACW and their Welsh government counterpart, Creative Wales, to explore future funding models was also held.

The financial support of ACW has been critical to us getting through the past few financial years and we are extremely grateful for their ongoing support.

3. Objectives and activities for the public benefit

Wales Millennium Centre is a home for the arts in Wales, and a cauldron of creativity for the nation. We fire imaginations by curating world-class, critically acclaimed touring productions, from musical theatre and comedy to dance, cabaret and an international festival. We kindle emerging talents with fresh, provocative and popular pieces of our own, rooted in Welsh culture. We ignite a passion for the arts in young people with life-changing learning experiences and chances to shine in the spotlight.

The Centre is a major tourist attraction for Wales. It aims to be internationally significant, renowned for excellence, leadership, and innovation. Entertaining audiences and attracting visitors from the whole of Wales and well beyond, it will continue to provide a creative home for Wales’s leading arts and cultural organisations.

We aim to Inspire Our Nation and Impress the World, creating inspirational and life-changing experiences that broaden horizons. We seek to:

• Be celebrated as one of the leading performing arts centres in the world

• Create innovative work that showcases Wales to the world

• Raise the aspiration of every young person in Wales

• Be accessible to everyone in Wales

5

Wales MSllennium Centre (Limrted by Guarantee) Annual report ond financlal ststements Year ended 31 March 2023 TRUSTEES. REPORTI COJltlrtuedJ doli r 9eo Tarbio'r dychymyg Fire th• We ¥Ylll contlnue d&velothng our commiment to the Wei5h language. ensurin8 th3t we a￿ an exEtnplary billngual 0r8an1saS￿. we Tr￿11 ctsntlnue to workwith the WeL%h LanguaÈe Cornmissioner In adhÈrin8 tothewelsh lan8ua8e statbdards that apply. The Trjttees confirTn that they are iware of the Charty Commlssiorfs genefal ZUk4arKe on public be￿ and they have referred to the 8uldance when revkwingthe Charitl5 aimsand objectives and In plannin8 futureaciivibes. SettiDn4-Ath¥ements & PerfOn￿an£@ l Donald Gordon Tlwtrt A return tofull pro8omminE in the largestof our IheatrEsfeatured successful blockbu51ersand recordbreaking income. 2022-23 wasthefirstfinancial year5intr 2019.20when the Donald GordonTheatre IDGTI has been fully pro8ratnmablewlthout anY￿r￿ÈmIC-forCed closuresorcancellabonsthe entire year, onlythree w0gra[nrnab￿ evenln8s were not filled. Over42E,W ticket silesfor our DGT commercial 5how5generated E16.8m lexcludiTr8VATI In 2022123. the hithe5ton record and É2m rnore than the previDUS recor¢ of £14.8m In 201&17. This record-breakln8 sw¢es$ 15 |aTgely due to several bbckbuster5 fallln8 In the sam& fIna￿l￿1 year due to pandernic drl¥n rescheduling including8-weeks Df Disne￿5 Lion Kingln the Sumr￿￿ andthEretum olLesMlsérab￿sfOrs week5 at Chrlstmas. Whilst the g.vpntual fftnanclal Outcomè has been record breakin& the Ihallenges posed by chan8estO 4udlences behavH)ur with rE83rd5 to purchasin8 tlckÈts much c105er to the da*s of the 5tv)w itself 5hculd not be uDdere511tiiated. Sales for Drearngirfs and My Falr Lidy were slow and nelther perforrned as well as expetted in term50f sales. My Fair three-week ruft in November 2022 colncided wilhBrowln8concernsarDundthe cost- DIGONEX,ourprltè¢ptimis&tlon partneralsoassisted In adiustyn8 wices wherethere wa5 hlgh demand for blockbuster titles. We are nowalso ableto kÈep 8 keener eye on SnventDry m3h38ement and prlcing thank5 to the SEATS portal provided ￿ DIGONEX. Our price QP11rn15ation partner. fhis not only allows us to easi￿ Intre35o priig.% where there is dern3nd. bui also decita$e prices In an attempt stirnulate demand In areas of the DGT where sales may be 51ower.Along51deolleiirtg world-clL155shows, weore g15QCteotinqspGceformore diVe￿£perfOrMtrnc￿S. In line wlth Dur creative 6nd strate8lc Vislon, we 83ve a platform to dlverse vtsi¢e5 by openin8 up our main 5tsge lor use by artists. CDmmunitie5, and young people, beyondthe usual commerclal tourinettympanles. We bullt onw previou5workwithyDung pe¢pleand comrnunltlesto eThab￿t￿emt0 pro8r3mme. create. 3nd use the OGT In the ¥￿v$that Iheywantto. Inxxx 202V23.lorthe fir5ttifflein its h15tory. eutetown Carnfvaltookover Oui main5ta8e. ThepopularJohnnytlarkean&the DubA5anteband closed the event a5 part of the Fesii¥81 finale. We 31so Supported one of our Creatlve Associate5. Jo FonR. wlth a lull WEek's a[￿55 to the Don3￿ Gordon Theatrg. In fhnll Wp Jlegln AgoinP A unique w-day take-over of the DGT, 51w 50 diverse artists fiom across Wales 'clalm' the space through dance, spoken wotd. and Improvi¥tion. Itwasa poignant piece for the arti5t5 involved, many of whom had Trevel worked wilh Us before. It drew new audlences into our m31n theatretoexperlencethe INe inthllation.wSth of1ud￿Oce bpiTrgnew bookers. Were(elvedexcellent feedbackfrom audlence52nd artstSDn the mbition and del1veryofthep￿Ce, includln8'. CANOIFAM NIILEk4iwp4 CYMHU VI4LES MILLÈt4NIUM CENTHE

Wales Millennium Centre ILimited by Guar3nteel Annual report and financial 5taternents Year ended 31 March 2023 TRUSTEES, REPORT Irgntlnuedl 'WhLTtyou huve donehereis twtyornozing. ItrettltyiswtyldltQLlino.' Itwos eXtr(￿rdIn0ry¢0s¢e thEmcln stogeot WMC¢pfnedup tDstsch¢utting-cdqe contempomrywork. Moreth15el' 'ttw05reollyrefresbing iosee LTShowlike thlsin them(Jin5poieDf the WMC... Hows1￿1 We Be0￿￿901￿Au￿1enre Members Theproducrion hedto ¢nhanceourreputath)nasa treativehome forevery￿¢.where Innovatlve work takes place.loFon8and herfell¢wCre3tlve Assotiates are mtkingimportant coniributions in our}oumeyto open moreof our spaces toartlsisbeyonijour Comme￿I81W¢rk. 4.2 wa￿ MIllenv￿m CentreProdu¢1￿￿$ and Ou¥we5tr￿ Stydto Ourlns theyearwE ¢onliDued to ￿lebtste the be51 of Wales'stalent inour own produttions. 2022123 eiBhtWales MSllennlum Cenire IWMCI productlons, c0-producti￿sand experlenos come tothe 5ta8eand screen. brinsingover 13,5CN) aUdVen￿ memberslntOOur building. addltlon to theaudien¢e5that Saw our produrtion5 in various locatiDnswith over 16.CW people attendingthe London rvh ¢f The Doy With 14e•rts. We alSv IrI¥￿&L￿￿ lil fte>¥oiLtI diid OevEloptneniwitn Tiye rurrherarrixs, tne result5 or Whicn may torm part of ourfvture produ(tioTr sla￿. Our20221Z3prodKtkin Boy wlthThoMe•rt5lWe5ton TheatrA & Darrte House) ATrthern (WÈstorThe¥trel Grandrnothers Closei IWestonTheatre &caba￿t) Anthern (Weston Theatrtl Ihe ooy wtn TWO Mearts Iwe$ton Theatre & Oanie Howl ppkSolKir￿￿Ess IDiKlta1Ex￿r￿ncel Uais IBuildlNtskeoverl ma￿￿80f a MonilerlWest•))The4tre Lion. the BltGh and thewardvobo IC•b•rerl Howshall weBe8ln Again?1DGTta￿o¥erj The B￿￿th TwoHert5retumed tocardrff in Septsmber202210 D•rKe Nou5e, horne to onofour re5IIent orian&atK)nk beforetran51errln8to the N•tbnalTheatre.London. Thls pmdurtitsn Is the fifsf Welsh refugee story brou8ht to the sia8e. It was written by MAm¢dArniri and adapted into a 518Be productlon by Hameo and wriiei Phll Portèr. TFglayrellsthe Incredib￿trU￿ Stotyof thpAmlrllamlVs tr&che￿Usl0vrTrey IromAfgh3Tri5tan aTrd?cr955Evft)pe tothe UK asthey fledthe raliban ID 20W. Thrown into an unfatniliarworld ol fake passport5and untrustworthy h8ndler5. IheAmlrls had tole¥in tolive wlth nothingand avold cèpture atoll r05ts. Hamed's e￿e1 brother. Hu55eln. had a Ilf&threatening heartcondltlon whlch madeihejournewall the more¢ritKal. andthe play Se￿e3 as a love ￿tter tothe NHSwhotreated him when the Amlrfs 5etlled in Cardwf. The showwa55een by over I6,￿ audience membersand ￿￿1Ve1 standiTr8ovatlonsacross Its six-week run. Itwasalsofilrned dunn8 the￿fft and is nowavailable on the National Theatre's NT Uve platform allowiin8 more people to actess Ihe story. All schools In England and Wa￿$ can a￿esS this p￿￿orrn free of charge. 7hemostrullurollydNerse oudlence fveeverexpertenced1n0nytheot￿a￿&￿￿ere"_A￿dl¢fi(t mEmber, socklmAdb. ..a show that deser¥es aswideanavdvdnceas ry)SSible.Irom schoDlchildrento polltldans... TheGuardla￿41 mylew CAIIOLFAN MIEENIWM CYMRU ALÈ5 MILLENNlVhl CtNIRE

Wales Mlllennium Centre ILimited by Guarantee) Annual report ènd financi41 statements Year ended 31 March 2023 TRUSTEES, REPORT icontlnueèj Wewerethrllled to brfw8ourwe15 langua8• M￿￿¥1. AntheM.tOOUr￿￿1Ke5 th Juty2022. Four￿51￿r￿. F(x¥SOnB5. One pr&o.Wffth the tsnd olsowhdKlrwfrom thelrsof%l￿￿￿l com• 0￿￿t0p? Anthem Is the natlQD'5 b1￿￿est Ifakel TV 3iDEin8 £OrnDetltion. Join thp cnnlp£lAnt< A¢ sh?ro ththr ¥nd Iw4È with u$. There wlll be Wirtd machine5. There will be key IhanBe5.Theie wlll be plenty ol argU￿ntS0￿ Twittei. Written by Llinos Mai, Anthem soc￿1 commentsrywilh a lot ol heatL ielebratlngcontemporary Wales. Anthem pushes ihe boundaries of Welsh ian8v￿elheat￿ and Ihe Show'55(ale, dl8ltal inieeration and Indusi¥e casting make11 JniquE pnterrnsof what ha5Bone bdortr. 05ted in our We#on Studio. Anthem reiched new and extended audlences across ils ten-day lun, wlth 1.2W people attendin& of which 89% were Welsh speakers. comparedto 16%¢fourcommerclal DGfbwker5durlngihe 58meperiod.TheprDduttii)n 3150 evoked p9511ivepresscovErage. Injuly. attor lestyn Arwel discussed Anthem on BBC Radio Cymru and 54C'5 HenDèlso wem behlnd the s¢ene5 on the pr¢duttion. Alon8 with a 4-star review in Thestage, S4rysAngharad Maircalled it"hilhriw5' and So￿th wales Life-carne ovl olthe stvdk)With a renewedenthusia5mto learTr the lan8Ua8e" Anthem's audiencE an¢ (rhllcal reception wa5a key Step IDfward lor u5 In our role as a pr(wJucerof Welsh i?[￿U3$e work, and in 2023 and beyondwe areexclted toputh forward with even bolderand bl8gerwelsh lan8ua8estoryiellinB. ITr Autumn 20?? ￿￿1￿M@￿ o￿V8￿0￿￿&by•?k[ryl ih•tTrsrirne mash upi The M•kI￿￿M0rtrtertQ0urw¢s1OnslUthu. Performed andwritien byCDnnorAllen,ChlldrÈn's LaureateWalesin2021.TheMakSngof8 Monster isaserni-aulobiographKalstoryb8sed¢nconnDffs experiencÈs growlng up mlxed race in Newport wlth an absent father. 11 explDre5 themes of racism. dornestlc Vroleno. identity and sècond chantès. The show is part 5poken-wocd, part stDrytelling and part Gritne music, a Unique cofflbinotlon that draws on Connor's love of, and escape Into. Griffle and lyric15m througholrt h151rfe. Theproduction receiveda wide rangeof pre55 [ove￿￿eWIth 4 and 5 Star rewews acrossthe l￿ard. It welcomed ¢yEr I,ZM a￿dIenCe rnembers across sten-day wn. seeing a high proportion of youngerand more ethnKally diverse bookers. 40% of tNjOker5we￿ under35 ver5U5 17% In ourcommercial theatre and 19% Y4ere of Black A&aTrand Minority EthniCit￿S3S tompared toonly 2% In our CLvnrnerclallheatre. Wobv... Irs been o whilesinceltrebeenemotiofjol0wero￿tte of theotrt but'The MokingDf oMonsrer'@tbeCentre wos o)solvtelyoutstondlngl' 'WhLTtQll LVnOZMQ showlll lftltso mony dlfferent enrotioTr& repthng this, l urge yoy toqo ondseeit- oneolthe bestthino5 fvE wotchedol Avdlence Member5 feedback wa Twitter we will coTrtinue tovse ourweston stud￿ primarityforoul own produ£tKins, showcasingwales-basedtalentand buildill8ourrepution a5 a creative producer. By reframing how we véorl and who we work wlth, we •re already seelnga dwer5ifl￿tl0n Of the 51one5 we tell, thE artist5 that tell them, and theaudn¢esthat enga8e. 4.3 Cabwrtt Oyrdhene cabaret pro8r¥mffje CDmlnud io iwild newaud￿n¢es. IndprLw5dea $•res￿LEf0rd dl¥erso r¥n8eof artL%ts. Our WMC produ￿￿ Chrlstffta5 <abaret shDw. ThE L￿n. The Blt¢h Jnd The WaYdtobE. LI￿￿thed our trtra￿ded Cabar•t pro8ramthe In De<Èrnbor2022. The showwasa sellout Sucte$5and r￿e1ved3n Èxcellentreswnse ￿th over4ople￿S of pre55coverage. The in¢lu5NEprodutllon showca5Èd the best of urcu5. dragand burlesque and welcomed backthe dSverse creativÈ tal@nt hehlnd Our2021 Chr15trnas cabare¢ XXKmasCarol. Theshow enBaged wlth newèudRncesand artists acr05S it5 3-week run, Qver 2.667 peopleattended acros$ 17 pErforMan￿s. A higherprowrtion of bookers for Cab3rÈt were gay and bisexual than ifi our maln theatre period durlng the 53tne perlod 11g%ver5V5 5%). February 20234wthe LiuKh olournvwCabaretSPo¢e. withover k20se•ts. It15 thE ltsst purpo$t&•tvenuo knWalÈs. Thls venue 5hDwcJses new art foim5, b￿1￿5 COIMmunity, Pn(Du￿Se5 experimenraiion and nurtures local erner8lni art15t5. Our Year-rO￿n0 prcgramme isdlver5e Incluslve, [nakeSSp￿ fordifferentvoices, etnbracesthe new. GrandmotFtrsCh)set. our muslc31 to-Droductinn wllh arti¢t I ijkp Hprpford. rotufn4d toWMC >È the f4r•t thc ncw Cab4ret venue. Thls followed a 501d-out run at WMC inAprll 2022, and fvrtheT performances¥tthe Edinburgh Fringe. in Manchester. 6D5tol. and Oslo. Norwav. We staged 22 pr0dutt￿n5 and welcomed Overs.7￿ people Ih¢ouEh thed￿rS in the 2022123 Cabaretseason. TN53udien¢e was much more diverse than that for Our commercial programme.. CANOLFAPI MILENIWM cYMv WALEJ MILLEMMIUM

Wales Millennium Centre (Llmited by Guarantee) Annual reportand financial ststements Year ended 31 March 2023 TRUSTEES, REPORTI contlntsedj 42% of bookers In Ourcabaret space are 8?v orbisexual, cofflp3￿ to 7%of ourcomrnercial theatre bookersoverthe perSodand5%of Cèrdlff'% population12021 censtssl.3% indr(ated theywÈre n¢n.binary. cornpared to le55 than l%of tommercial bookers. 38%are under 35, comparedtojust Il%of comrnercial Wkersand 50%of Cardiff's population12021 censu51. 5% are of BLBck. Asian and Minority EthnKitles lincludiTr8 tniNedlmultle ethnicitlesl compared to just 2% of cornmercièl booker5 and 9.7% of Cardifps populatiOn12021 censu51- 22% of tsbaret bookers speakwe15h. compared to 15% of cornrnerclal booker5 and Il%of the Cardbff popU￿tIon[202l ¢ensusl. 4.4AttÈfydJnces In 0￿rsPaC•S 2022113 2021122 Z020121 Z019120 2018119 Gr•du•l rEQPEnlnB Irom M•y 1021 Ck6od thro￿hOUl Total vitts to Wales Mlllennl¥ Certre (lnctlcketbu￿rSl 1.126A71' 317.947 1ts86A26 1.782.103 Donald GotdonTheatre.' umberof performances 266 317 917 147 Donakl GordoiTheatre'. Audien￿ Numkers IPerformarKesl 426026 130,914 386,77B 417,Q40 Donakl Gordvn T•￿tre.. Nvmberof Events io io 19 Donah4 GordonThÈatte'. EventAttendees IwhÈo tKletedl 3LO3Y I7￿18 16,086 We5tonStudio.. Performa￿e$ 104 Weston StudiD'. AUdIen￿ Ntsmbers Cabaret.. PerlcrmaJKesln CabwrEtVenue OpeneèFebruory2023 bjret.. A￿d￿￿e Numbe 8.247 7.283 11,449 9.755 27 2,713 Vorlousfvctorshove imp0ctedowr￿IYen1lttaOtf0I1rl9Yjls￿￿tgTwtn[￿9. Exre05iVeb￿￿th9 ondiéluibisbmentworkln ourfront4if-hov5espoces contribvted to lov￿rfv0tfO{1, oythtFKe5directedto tsse OUT5ideentroncesfrom 14 No¥ernber2022 to20 Moffcb2023, whlle work tookp1a￿ln ouKmoinconcOu￿e. We o re￿oCeé0￿rGg￿I￿9￿oI1O￿$e￿sor￿temdU￿In¢1o¢krfoWn. bwth the newsysttmrnure Gccurotely ￿￿t￿n￿gfvotfG11. MorewiLIy wecontynue t05ee changes vtsitoffbthov￿￿rS, In liohtolwwdconcems undInC￿0sedrefflQteworkIft9. Feweima55eventshove olso tokenplocelncwdrff Bayinrecentyeurs, such osfvodonddrinkfvStsvtrls, ondfrwercorpornrehi￿ Llre tgklnoploce Inoyrbuilding. DonuldGor6on fheoireperfonnonces Includes.. tsllprodurtlons ctsratedbythe WMC, pro6uctltrnsin theDonoldfjoidon Thectreby residents rwe15h Not￿￿￿1 OpeKo/NgtignolDanceCompony WO1£￿88cNQtloAtt1 Orchestroof Wglesl, orts/erttertGynrnenthhes whEreolL orthe mojorityoJ. IheovdltorAim Is'sold'to tht ptsblir. Llais pprformances are counted separately. 3 Ivents incltsdt5PyiwQ(lprpe OnUPrtWO￿hIre-ou￿￿r￿e.eveni55￿crt ￿ All EveniiPgWItb... rtwerecentyeors theSehO￿ been fflolnly grnéuotion ieremonles. Wehostetlihreeyeors'worth of CMETgroduotlons In2022/23. ucr055199rodu(JtionieremDnlesln rotoi. LTCCLwnriftqforthehvJherproportlonof DGre￿At otrendees thisyeor. 'The ieductlon In westtsn5tsdioperfonmor￿s during203V23compored to2022/21 feflects (Jihgnpln 5tmte9yfvrtbe 5pgce tobeusedJortEIEaF5ingon& presentmsYourownprD&uctlons, rtstheTthaneAtemolones. Perforfftance ttyrfoudncenumbers ItKliJdeovrChristmasCoboret5howwhlch too*ploce belorethe new Citboret¥enueoyned. CANtsLFAN I41LE￿1￿m CYHNU WAIES MIL&ÉNr•iuM CSNTAI

Wale5 Millennlum Centre (Limited by GuaranteEI Annual rewrt and finanaal statement5 Year ended 31 Marth 2023 TRUSTEES, REPORTI coTrtiRuedl S(Nsital Experkffl •tal storyielling Is a powerful mediurn. We contSnue to invest push the bound¥rie5 of th15 fomi of storytelling. We are working with young WdshtalenL emergingdiptal creative5.and mOreesta￿lS￿￿dIreat5YestO rfAsco¥erimportant and dlversestOT￿stO share intemètiollally. both on our InAu8uSt 2012we unVei￿d Bocs, ojr ground-breaking newnue. deditatedto Immerswe and extended rÈalityexperiences. Ths is theflrstvenue of Irsklnd in t UK arts centre. iiallow5 U5to createand ourowN workaThY brtnlp4on￿r1nl d￿lt31 experlence5toaudknces in wèles. we are buSldln8 rel3tiDnship5 with prOd￿lOn companie5. to share expertise in our re5pettive fields- the ambklon beingthe treation of h￿h qu31ttv, iomblned dital and live performances. Thi5wa5 seen in the presentiTrB of In Pursuits of Aepelitlve Beats aspartof our Ua15festival In 2022. Ten unlqueexper1en￿S were5hown a(r05SOurspBre5 in 202z123.wlth sevenof thE5etakingp13cein Bots ThellrstexperSent2to¢pen IhespKewas ovrown returnlngVR produuioD. Ripple50f Kindness, which wasdevelopedalongsideourwldc productionTheBDyWithTwoHearts asan alternètive way oftellin8the story ihat could reach a wideraudience. Al experiences in Bocs have been ffee and have leached over I￿o3￿d￿nCe metnbef5. In addlllon to ueaiin8and hostin8 Imrnerslve expertentesand extended reality, we have hosted digital indu5trytslk5and OoneeriTr% d15CU551on& Feedback h?$ teen fftrWhelmin￿ypO$ll￿ with the followlTrg hlghll8hts'. 81%of imrner5weexper1en￿ audience5 were'emotlonally[t￿ved, bythe experience they attended., 92% were impie55ed byihe tech￿￿0￿ u5ed,' 6￿thInk Immersiveexptrrnce5 ran èelustasimpactful a5 theatre, filrn and TV.. 94% would liketo see us¢fferrnore Imrner5fveexperlÈnies Infuture. 4.6 Llals-OwITrtÈrn4t￿naIArts F45tnrnl window Intoallourcreati￿￿Qrt bringln8t¢gEtF￿rthe best3rtistS.VOUTrRp8ople andcommunitie5 in a celebratron of theong InElriJmpnlwpAII Avarled publk programmeofco-curated Ireeperfortnances and events fed into and enhance£lLtBi<5char8eatrAeii¢keted 51rand.ThlsfreesKoBramrne Included talks, exhlbltlons, perfornianres andatti¥llle5 created with aDdloryoung peDpIe. w0￿1n8 wlthèrt&tgfrom ¥cr￿swales, we hèda wrtlcthar￿￿ph￿Sis on emergingartlstssharingour 5tageand collaboratin8 wlth InternatlDnal¥rtists. Our'Next Up, programrnÈ. whith putE a sry)tllght on èmer8ing MOBO artist5 frorn Wales. Saw Grime veteran D Douèle E hEadline the We51on Studio al Llèi& Th15 event was tO-DJrated with and loryoun8 people and 5UPPOrted by50rne of ihe flnestemer8ing art15ts liorn a¢rossWa￿S. LLiis br¢u8ht new anistsand a￿dIenCeS throu8h the doors. wilh51%of botskers being newtoWMC. Afotsi uf 16,317 peopfe cème through ourdoors durlng Llais'5 festival weekend, with ora thirdof these(6,￿4) purchasing tickets. We recelved word-breaking w15t-P3ndemlc press coveraze, wlth Llais t¢¥erage Included In The Tirne5, Guardian. The Telezraph, 6 Music and Wclsh r2, r?dlo. online prSntcowera8e. Uais 2022 brought U5 closei to our vision oFa festival thai celebrates and 3mplbflES vDKes of artlSts, young people. cornmunIt￿s and audiences. We re trrnenting the festl¥al as annuil sta￿e In Cardiffs ¢alendar. Ionilnulne to work with Cardiff Council. Welsh Gnvernment and other partners to aS￿e afundiDg modelthatwillallowthefe51ivalto contlnuetodeYelopand8row Dverthe nextfewyears, contribuiingtoa $18nature event aspart of 11&15 2023 v4111tae p￿CE Lylween 11 and 15 LW•t• 1013. 4.7 Suwortln8Art15ts We are awa￿ of Ihe inequBlftle5 in obr sector ind rnany freel3ncÈ artists aDd creatlves contlnueil to strugele coming out of the pandemic, unable to develop thelr creatSveprartice, findingthem5elves Dut of work and often in4i8ible for aTryof the pandemir related flnancial support schemes. One of ourtore aim5 asa Producin8 House isto rnakesp3tr fot3rtiMsio de¥elDptheirproJert5. weprovlde 5UPPOrtfora¢tist5 and Invest In Ideasatanearfy51aze. WeconiinuElo Invesrin R&Dftyourown woduttk)nsbui8lsoprovldefree rehèarsal 5wce. prolessiwialdifvice3nd 5UPPOrt, and resDur¢esfora wide range of artist5 and cultural free13n¢ers In Walesto play. e¥plDre and 8rowthelr own wor CAMOLFAN HILENIWNICYMU io

Wales MSllennium CÈntre 1￿MIted by Guaranteel Annual rEport and financial statements Year ended 31 March 2023 TRUSTEES, REPORTI rontlnuedl Durlng 2022123, we offered &>trcommuDtty orzanlsatlonsand arti#sortr2.OW hoursolspace In klnd, foriehearsa15, research & devebpment, Imingand WDTkshops. Previouslydeliveredonline. in Noyember 2022. wea150 ie-launthed ourmonthly'open Offke. programme, ID per￿)n, pro¥ldln88uidantÈ and support from oroducer5 to art1515. Wlth 30 on&oTronesessittns off&r@d. .The artists we speak to feedback Ihat hawng the QPPDrtunity ro talk thmugh Iheit iLIEa5 Is reall¥ useful, ès well 35 get some what to do en. and tolearn howweoperale a5a pfl￿u£ll0n house mo¢e gener311y' Frankie Riise Taylor,ourAssistsnt Producerand Open OfFlcefoolitator ThISYÈarwe launched ourAftISE-Wa￿S treatkn5 progratnme whlch was S￿(eSSIv1￿ delwere(l in partnership Wilh theatre mpaTW. Fio. Th15 Is id profe55ional development programme for producers and dirertors, targeting participants wlth prDtetied character15tics. Eight producersand te dlreciors were èppoiDted dufing the year and WMC hds Invested £25.OODovei two ye8r3 in the programrne. With Dur support. Fio were also 5ucce35tul In setufihg 3dditlonal fundln8 tr￿￿ theArts Council of Wale5 to extend and dEvelopthe prograrnme. We will now be workln8 wllh them to provide meanin8fiJl dwek)pment31 suwortand Space to Welsh Oobal majority artist5. (￿r£f£￿tlY￿A%SodI1es prosramme tontlnued for ft$seconrfyear. Ourelghl Creaii¥eAssociate5 are Informin8 oUrvI￿on and ￿ldIng(OnverSat￿)nSat WMC. These artbts werepald toworkwilh us. on3 Part orfull time ba515, Wlth theirtime5pent equally between workin8 us and. with a55ociate5 wIKkln8 on a part or lull tiinE bdnd develpplng thelr own pracNce. This prDBrafflffle ended In bAay 2023. The prOgraMn￿ Will be evaluated, and the results used to influencefuture Creative Assooate programrne4 and theraiyniof fuDd5 todellverthern. Durln8 2022123.. Tutni William5curated e￿MentS of Llals. delfvered Hard Cbr lone of oUrC￿atiVe Learnlng programrnesl contributed to the development of ourCrealiYeVolcecourses. Ndldi John supported our Youth Theatre pro8r3mme as a facilitator. delivered elements of our wellbein8 prograrnme, and contri￿ted to the OrsOni5Otion'5 and w¢llb¢ln8 >tr)te¥ymore widety. Jo fon& with WMC support, toured her worL The Rest of Our L￿es. She atsoorrdlllsed, facllltated and hosted herproiect, How Sh311 We Be8ln 31n?on our main StsgE. inviting many newpeople into the ￿lIdingaThd ontoour stagè. Nerida 6r3d￿y5Upporte￿0n sorne of ourproduttions, Intludin8GrandmothefsCloset, andTheLlon the 8iichandtheWardrob¢ anddeveloped a partnershlp wilh Cardrff Royal Infirm3ry workln8 through creat￿e prdrtce to èngage commuTrlties In healthcare and well-being. including v4orkin8wbth Llamau. Taf￿la Khanexplored her￿thway353VIsUalty Impalred dlrectoi, wpportedour wodudlon5, IndudingThe BoywrthTwoHearts, and Is currendy rn?kln8 a proposalfora new Show about her experieoces as èviSu3lly Impèiredwoman. She Is alsoa mEtnbEr Trf (wr Internal EDI network. Newd and has ddlvered vlsual Nnp8ifrnenl awarene55tralnin8 IDrthe organ15ati0n. Ruslan Pilviwvlavnched a Muslim Creatlve network.'No¥v In A Minulp MpdiX' Al WhACwith loo￿n8)I th• r•13t￿n5hpP bgtwagn l$l¥rn and Creative Careers. and Ireated digital content lor Var￿￿$ dep3rtment5 acr05Stheorgènisation. sita Thomasworked on thedevebpment of ourARISE-Wale5 creat￿e5 programme. Jaffrin Khan delivered wOT￿h¢p$ with our Valued Partnershlp schools. She 15 also workln8 wlth our ¢wmunity team on evenr5 celebratlng Bangladeshl 3nd5outh Askin culture. She 15 developing her pracii¢e a5a muhi-di5clpllnary artlst and e5tabllshln8 a creatlve base In London. 4.8 creat￿ Léamln8 Our Creative Learnlnl progrhmme alms tts èn8380 y￿1￿nE people ID the èrts. tar8etin8 groups who Wou￿ not otherw15e access. We lttus on developin8¢reaiive 5ki11s. buSldlnsconlidente, and f¢steriDg£reativeconnectlons.TakinEtheleadfrorn ourYotsngc(Mnmunitie5. wecontinue todel￿r popular. In-depth targeted programmes and workshopsacross Walès. Over 6.5LKlyoun8 pewe a8ed belY￿eTh 11-24wears old from across walÈs have pirricipated across 1,350free Ireativeactivit￿5, spanning training and apprentlcethlps, industry network1￿ talent showcases, youth¢¢nsult￿Cn, and much more. CAtrIOIFAFI MILENIWM CYMRU ALE5 MILLENNItJM CENTRE li

Wales Millenniurn Centre (Limlted by Guarèftteel Annu41 report and financwl statements Year ended 31 March 2023 TRUSTEES, REPORTI ¢ontinvedl Core pr0gramme5dell¥e￿￿thlsYeèr include.. Radlo Platlform- Our y¢uth.led radio Station and tralnlng pro$rarntne based in WMC and The Factory in Porth the Rhondda Valley. Durln8 2022123. over g)young peopletook p3rt In in-depih 8¢credited Radio Platfform tralnin& )nd 1,2Wyouth-led radio shows were broadcasi frtyn UUT 5tatknn5. we nave a150 weicornea li young peoie Into Palo rgie5 Vlrthin piattrorm. as part ol the pio8rarnme's rollSn8 yOUth- whpbyrnent scheme. Vok•- a uniouEtt3in￿E proBr?mme ollerln8 Young peop￿ the ￿attorM lo explore theifinterÈ5ts. expre55 thernslves. bulld creative confidence, and to share their narrative through practical learning. ln 2022123. 186 young people each 84ined six hour5 of In-deprh tralnlng alongside industry profe5510na15, throts¥h 27 Creativevoice courses includingcostume Oesign. Songwriting and Grafflll. Creativevoice Courses ¥veien'ljust limited to our buildin8.WÈ offEred regular Radiocourses in thesuuth W4lE5 Valley5throu8h our To8etherStronBer programrne. partnered wlth Llamau, a h¢mele55ne55 charity. io deliver a Table-TQP CQUT5e at their Newport ￿TrI[e. We toll3bor3ted with YMCA 5wan5ea to proV￿e a Music Video cour5efor young carers In swansea. our Story Lab course was held onlittE in ￿rtnerShIpwIth local theatre company, Flo55yand Boo. Lrfe Hack- a free event open to Young people aged between 11-25 years ol ige delivered a5 part ol our Together Stronger partnershlp with Valleys Kid Lrfe Hack timsto Inspire young peoplethrweh C{￿11Ve and inleratsive workshops With induryprofe5slona15. Each Life Hack runs from 2pm until lopm. closing wrth a silent disco. 146 young pPo￿e from Ihe Valleys and South Wale5 took part In three Lifè Hack evènts in vLu£J. witn iwo taking Fwa£e In The Fattory. porth. and the Ihifd rnaklng a debut at wèles mil￿￿￿1￿[￿ Cenire durlng Ouf International arts festlval, Uais. Of those SUF¥ffjpd. 89% reported that LlfeHack had booste6 Ihdrconfldence. Hard Cèr- our vocal col￿diVefDryoU￿g peoplc. brln8sthose aied I￿25 who live In CardS11 tO8eth¥ to Sin8, rapi beatbtfA create mu51c. Ir is delivered Sn paiinership with Natv)nal Youth Arts Wale> The ten youn8 people Involved durln8 2022123 engaged In over 40 hours of mu￿(31 exploratloTr alon8slde three fatililators spe(lali51n8 in Soul, Mclng and Beatboxing. The proiecr culrnlnated in theyounÈ people 5howca5ingtheir talents atiurtèin-rai5erperformances forour grime-mu>¢al pl(￿u￿10n, The Makingof a Monster. ,￿tfr1111ke LTnotherfomllyondtommvrtytyfvlloJdive151ty.' Hardcbr membèr Dlgltal creal￿e paihways- the Uf5 first aicredited creativelunlor appreniice5hip scheme. Thls progr3mme has been run In conjunction with Cardiff andValeColle8e since September2022.The scheme 15 aiTned at key sts8e 4 learners I14- 16year5 oldlwho h3ve been 1deni1f￿￿ bytheir 5(hoo15 as vulnerable Dr at rlsk of disen8aging froffl educatlon. Each week durin8the è13demic year, seven young apprentices ￿ceIVed ovei 12 hour5 Df In-deoth meniorinR. develoDing 5ki115 intechnical theatiè. Èraohii deslgn. pvpnlfi plAnning xnrt irtlrvlvrin& uiltrh flvp of thprn 8TEC Level 2 Workshopsskills. Valued Partner5hlps- schools prty8r3mme Set up through Careeis Wales 10 offer an overview ol'whai goes on under Wales Millennium CEnlre'5fooI?" In 2022123, 4¥orkin8Wilhour6 pariner secondary￿h9o1s from3cf0ss5oulh wale4we￿8artL%ed se￿on$fOr0Ver7s pupi15, who each 8ainÈd over 6 hours of behInd-th￿tehes1hduStry In518hts. Youth CollÈ<tW the youth-led 8overTr8ntt model offer5 youn6 people the gppmunhy to btslld iransfÈrdblE 5ki115, d15tover Imere5t5 the arts, collaborate wlth dec151oD making ￿￿leS In Cardiff, and inspire our agenda to be rn0￿ aliened tothe Interests of young people we aim 105erve.Thi5yearourYouth CollÈctivÈ has¢onlinued io Inforfll ourMakerSpacedevelopFnent5. InC1￿1￿8brandjrne01lhespa(eand dtrvelopTnent ol pro8ramme content. Annval event 'DrDs Nos" Our innual 51eewver event, In￿tIng youth group5 from acf05S Wales to engage With the cre3tlve Ind￿StrIes. to rneet new people. and de¥eloptheir skills Many of the young people whoiake part have never been to WMC. NDvernber 2022's Dros NDS brought tO8ethEr adNer5egrDUP o140yDuTr8 pÈople from our partneryouth-group oryarusaii¢n% incluJinB Cardrff Youth Jervi¢es. up the Mejj, Uam•u. Valleys KIQJ. 24 liuuis. Ili¥ luuk ydit In wor*5htps ano auiwiies faiiiilaieo Dy experienced profe5slon315,1è3tufin8 dance. lyricwrltin& Oeatboxlng, and visualarts. Our Youth Cdlectiye played a lead ra￿ In curèiing the dasI5 activities. Includlng a post-show CI&A with Conner Alen. the creator behIr￿ Our production, The MÈkin8 Df i Monster. To ensure a Comfortab￿ inclu5iveenvlronrnent for everyone, a dedicaied Wellbeln8Ofncer w35also on hand throughovt IheweekeDd. -Ilgoinedlnew5k1115ondo wIderpercept￿n olrheworfd" "NeWeMper￿￿￿s, nÈwlo¢es.ftelioglyke fftY(￿￿tIV1ty k¥OS Ortu￿lYpVttovse." Hu8elyp051tivefeedbackfromyoungpÉoplein¥ttendance relnforcesthev31ueofouf adivitie5.ln helpingtobrln8a broad mixofyoungpÈopletO8ether and build ¢reaiive confidenie. 100% of young pewè Surveyed a8reed that Dros Nos had boomed their confioence and allowed them to express thems￿ve5. They all also agreed that thewd had the fFeedoTh to expknTe Subletts that were itnportant to them and over thrÈe-quarter5 agreed that thty hèd devEloped new connens005 orfrlendships. 9 AppreThtlceshlps We continued to run the wale55haredTechnical ApprentI￿S sthemewilh Cardiff and va￿ Coife8e ICAVCI,sJpwrt1ngpract￿1OnerS wlth a passlon for the live artstD8ain the necessary sklllstDex¢el in a career In b￿kStage theatre. ¢ANOLFAN P4ILENIWM CYMPU WALES 141LLeNNIVM CÈNfHÉ 12

Wale5 MSllennlum Centre (Limited by Guarantee) Annual reportand financial statements Ye3r ended 31 March 2023 TRUSTEES, REPORT(rgnt The prograrnme offers year-bn& pBid. full-time app￿ntICe$hlps in backstage technical theatre. while provkJkng venues across wales vlilh youn8 traiDee5that5UPPDrttheifworkhkd. bringing new Ins48ht and the Latest indu5trykno¥Aed8e. Theapprentice5 worked rowards a Level 3 certificatK>n In Technic31 Theatre.. Sound. Light and 5ta8e ICAVCI and they a150 obtalned rhe Associat￿￿ of BiSliJIiTlivdliyT¥tsiiilLl0ii>I￿TTI tsrvnLeAwardfocv5yngonriwngpraaice, ropes& knot5. electrical ca￿. Weal￿ottEred TrrtSfkation In Rl88ln& PATTestln8and IPAFtrainin& Foraw3pprentltesW￿hout G￿E5 in Engllsh or Maths, therewa5alsOtrain1ng3ndi qualificatv)Tr in basic numerary and Durin8 2022123. seveTr apprentlces were supported acro55 the 5cherne. One Df our apwèntlie5WdS a young person who ha5 en8a8ed In our C[￿1¥e learning prolrammesforsome time. includlng To8etherStron8er. ire Hackand Radio Plètftorm. Of the sen apprEntice5, three shared thelr time between WMC and WNO, Iwo were plac￿ ThEatre Clwyd. and Theatr Brycheinlog and Aberystwh Artscent￿ supported one apprentice each. Tbe ojrrent cohort wlll compkietheirapprenticeshipsbyortober 2023. Weare currentlyrecrultingfor tyjrnext Intske. DurSn8 thls year, we contlnued tofotuson bulldlngcommunity voice and rewesentation and beinga IK>meforall. We collèiw)rated with over 50 local partners, communitie5 and artlsrs 10 anlmatetyjr buildin8 wlth free family èthvities, events and performance that Ce￿bratew3￿S's dlver5etradltlDns, cultural pr3ttice5, faith5, and creativetalent. 160cuttvral Celebrat￿s3nd commuTrltyperformaFKeswelcomed 11.IW+ cotTrrnunty membersiDtoour buildir¥andthe surroundinB btyarea. Ninecotnmunity and YOut￿lea exhibitions havewelcorned over I5,￿ vi%tors. In June 2022, we h￿t￿￿re0 Windrush Generation Cymru and thelr Inv31uablè contrlbutions to Welsh lffe. Our intergenÈtstionèl Windru5h 8aDquet brought together Over iw peop￿ lo enjoy food, dance, and conversition. CommunttymÉmbets performed dance and S￿8 and chef Geraldine Trotman ¢fafted a Caribbean In5plred menu. Thè b3nqu&t alfio IAiinrhprt R2r r￿lI￿ri1 fymrii'c Wlndrush E¥￿I￿tIOn. Our VoKe5. Our5torfes. OurHiStoty, which ShO￿aSed ihe slor￿S of Dvèf 40 Wlndrush Generatlon Cymru member5 to over 2,OW ¥i￿tOrS. Our Wlndrush DayeveDI on 22 lune 2022,co-turaiedwilh Ra￿cOUn[lI Cymru, bou8hl ourGlanfatollfewlth gospel chcirs. 50ngsand tslk5, and Yla5 attended tNover400elders andcommunity members. 'Re¢tsgrnsing•ndcelebTotingcontributbn50f CoHbbetrn s to the UK-soprlvllegeétohovemypiciure, nameondpGrefjts'51uryosPGrtDf theexhlbl - N4tionLTI w1nd￿sh Doy ey Audience feedback onTwllter In Av8USt 2022. we celebratèd ourbi88e5t Butetown cam1￿1 yèt, thank%ta str￿8 PBrtnershipswith ￿ad organwr Butetown Arts Creatw ASSO¢l8tion IBACAI. Carditt Councll, Senedd CYMTU, and CardlffCommunityHOU5ingA550clation. The bank holidayevent attracted over400 people acros5 It5 inteiynepti¢nal wrade, free famlly craft w¢<k5hop5. and mu51cal performanre5 in and around Our building. We a150 showca5ecl our flr51-ever carnbval main stage cotnmunity take-ovei with Ihe pKTrpular johnny Ckrke And the Dub Asante Band'5 Carnival rknaFe. 'Thi5 15 our tenth yeur Wtrles Centre hu5 been alongside vs ever￿￿K8 the beglnnlnj As Ctsmivtsl bo5 grown oné developed ond 4Ot bigger. 50h05 Woles Millenttium Centre 5 input.. Keith Murrell.Creative Oirectorof BACA In OttO￿r 2022 wecelebrated Diwali in partnership with WalesTamil Sangham. The festivitles welcomed o¥er2Wpeiylelntoourbulldlng tojoiTr in p￿￿er, muscandT3mil and Celtic dance. Wealsocelebièted 8laEkHi*oryMonfft.where wecommiss1￿eOTvCer0￿.5Affrlcerttd project an¢ Beacon5'5HonrySessbnstocurètÈpre- showllve muskon ourGlanfa 51a8epriortoeachperformance of TheCoiourPurple.Theserie5highli8hled thewealthof BlackwÈlsh ￿￿￿Cal talènt, from balafonvirtuoso N'famady Ko¥y4té tothe50ulful dellghtsof Aisha Kiy. 1n0￿Mber2o22, aspartofourWinterExhibitiOn,A2adi,wecelebratedShab-eYaldè, a PersiaDfethYal.forthefifsttime.fhe vnforBetlab event. ¢ts¢u<ated with 5wan5ea artist Naz Syed. attrarted over 170 people 10 enjoy live [nU￿c. a Persèn funk music DJ. 5wkeD word, a (raftwi5m workshop, a fashion show.freE Persian food, and more. In M8r¢h 2023. we celebrated St Dèvid's Daywilh over 250members Of the comtllunlty. We provided a platform for local music groups to perform, Includlng 03siS One World Choir. River Muslc, Pelenna Villey malev01￿ChOlr, Ind CellK Cafe. Local refuye charityOasi5tsrdjff ètsDsÈrvÈd frÈè bowlsof durtn8 thegvènt. CANOLIAN MILÉMIWM CYMRU VIALES pliLLENMIUM CENTNE 13

Wales Millennium Centre ltirnited byGuaranteel Annual report and financial statements Year ended 31 March 2023 TRUSTEES, REPORTI continvedj 4.11 Relma8lnl￿o￿rSp8te As a home of creatI￿ty ID Wales. the role we play in providing wekomln& accessib￿. and Inv1￿￿ spa¢esfof cofflThunitles to use lsa ¢wdal aspect ol our committnentto nurturln8tieaiivityand communty connectlvity. Wt 11dv￿ wiiiyl¥L¥Q ylidse Id uf our longTeim capirai proiect, vroiecr Lipeiia. tnis year. fildital ChhTrgesto our front-of-hovsE areas have helped us iorne mDrewelcoming8nd ￿￿esSIble. We now offer5pacesfor meeting fleXI￿e workSn¥ alongsldeour brand new café bar, Ffwrnais. we Treed ro 8enetste additional revenues from thi5 new venue, but as 8 free to ac£e55 publK building. there Is no o￿lgatIOn to make i purchase to access the colourful new spaces. Thec¢llaborative working desks are provin8 popular and are rekularlv used by our Own tèam$ 15aBreal whkh io wtsrk coIbbo￿tiVe1v, aswell 3$ bythelo(alcomrnunlty. Our nMvCab8ret and digital venues, as mentioneLI prevK)uSW,were¢om￿etsd a5 part of this ptvieit. Wofk is a150 undeFw3y on our upgraded rneMber￿ Ioun8e, for WMC supporters to rneet and relax, wth ils priydte bar and fdiet facilities. The refurblshed lounge is scheduled for cornrAetion insvmffler 2023. As part Df thedevelwnent of our makerS￿teS prject we are trlalllngthe Idea of a cofflmunity lI￿nI rootn. Our LoFfa is an open spaceforour vi%tors Dei{hbours, equlpped with informal seatln& books, space foT play, conversat￿￿ 8nd creBtivity, and a discreet food larder and Iresh herb earde for anyoneto use. Lolfa will help us understand howcomfflunilles and audienceswantto use Durspaces, feeding Into th￿deS￿Th and developrnent of the Souih Slde of our bJildin8 forthefuivre. Inphase2 of Capella. follow5n8extensiveconsull3tlonswlih tommunltiesandcreatlve partners. we ￿11 create permanent purp05e-buih 5tudiospaces. Under the new name-plètfform" these sppceswill be and run by youn8 peoplÈ. Tlii5 prujett 15 1 redevelopment Df the sourh Sideol ourbuildinz ionnected to our maih Glanfa area. We have completed a feasibility #vdy with leading a￿hItE￿5 alongside representatives of all the keygroup5 that will acce551he 5paces-yOun8 people, iommuMltie5, creative and tr3iningorganisations and 5chw15. The space5wIII Include recordlngstudiOS. diBilal labs, 3 new rehearsal and performance space. & new radio station and 3 rnake15' workshop. With the a5515tan￿ of ou< youth con5ulialion group. we are cuirentlydevebpiTr8 the brand and opetstional plans for these space5. We¥AII siart the bu1￿ as￿ a5 fundln8lssecured. Oncefully fe&115ed Plaifforrn ￿11 enable over 10,OODyWngpeop￿ and Ireatlvestoco4e¥&lop and acce550ur pro8rnmtnesonanannual basis. W• ?r• alG¢ onch3ll6estotheNorth Sideof thc bulldln6thot wlllfocusttn Disltal fxper¢Dces.fiits ￿111 brILlU￿￿ti￿y>lIl¥1l1y Ndtluiidl tsroadra5t Archive In partnership with National Library Wales. the creation of a dlgltal arcade that will be trialled In 2023 the continued development Of our BOCS progtamme. BOCS sh¢w¢asesa ran8eof digltal produtti¢n5 from screen toVR, Al andother Imrnersive and inieftctsvetechnolo8ies. 4.12 Acles￿bIl￿¥ Totrulybe 3 creative h¢meforall, it Isvftal thateveryonecan atcess us. AttE55ibility 15 a core prfnciple of ourwork. ¢ce$s￿lepT0￿UrtlO￿s In the Past yeèr we buih on the work started in 2021122 and have iiicluded CFÈative (aptbnlng and audlo descriptw)ns in all of our own produttions, rnakingihem more accEs51ble to Dldeaf and wsually iThpaired a￿dienceS. we(￿tinue to ensbreour Droduction ieafflsallRn With thèdiverse rnmmiin51iP¢ inthg Stor5￿￿& a￿t￿lI1n8. W• no80￿)f> with•xtèrnal producersto en5urethat physital 3¢ce55ibility Islncludedas part of our comractU31 termswiththerm. Econortkcess Whi15t we contlnued to d￿lOp detnand-ba5ed dynami¢ pri¢ingon ourcommÈr¢ial sh¢w5 IDthe Lk)nald GordonTheaire. Weensu￿d that entry-￿ve1 tkketprtces werenotaffe£ted. We launched DurCoxmuDEty Seatlll8 programme in 2Q21122. Wlth the svpport of our 50 Community Ambassadors, weconiinved to offer'paywhat you can. tkkeis across our performan￿5. to community member5 and Broups who may ¢theTW15e face flnattcial barrier5 to altendlng. The scheme Is IM￿ement@￿bY u5in8a comoinationof ne8Otiatv)ll5Wlth prod￿er$and v5ingourdedicated commuTrity5e3ling. In 2022123. wedi51ributedover 3.2L¥) 'pay véhatyou Can. tlckÈts. $3viDs communitses Dver£83.0fy)In Iiiketin8 COSt>S¢me of our most PDpular shtyw5 included Le5Mlsérables, The L￿n King and Thecolour Purple. .trro&itl¢h7alty thetstr¢ h7ry¢ 15 5cI by LUlllllJUNIrty Iv qvlte InriinwoTrftg-so Thts Iw reaiiy mwe usjee bvekomcd50 muchl, The Color Purpleaudience memberwho attendedwilh'oav whatwu can. lickets. CANO&FAN MILENIWM CYMV ALE5 MILLEWMIVM CtNfNr 14

Wales MillènniiJrD Centre IUmSted by Guarantee) Annual report ènd financial Statements Year ended 31 March 2023 TRUSTEES, REPORT( ¢ontinuedJ Thescheme Is helpingto diver>fy ouraudiences.. 22%of 'pay what you can, bookers have a disability, Compa￿￿ with Il% of wider DGTaookers. è less than 1% of the national population and17% 01 bookers are from area5 Categorised as the most deprived a￿aS of Wales. hCCDrdin8 to Welsh Go￿rnMent'S Communitle5 Fir51 prograrnme. This ¢omp3re5to IO% ol Widercommer{ial bookersfor fvws in the DGT during the same rriod. The'pay what you can. ¥heme operates In our WestDn Theatre and Caba￿1 venue, anlf all of the digltal weriences in Bocs are free. Thi5 ensure5 weals0part￿p8te inTeMw)TlmeCred￿$. wI￿rebyVO1u￿Ieers can spend their'tlrne credfts. on theatre tic￿581 WMC. Physi¢olorce55 gndincluswlty The physical acce55ibillty and inclusivty of our sP3ces remain 3 priority a5 we de&en and irnplemenl new sp3ces within our buildinz. Bocs Is fully wheelchair èctESSiblE, and C6b8rer has been deslgned Y4ilh our audiences In mind, InJuding Ibe In5tallatloffl of gender-Th￿traI tLHlet5. We have also created 3 dedlcated Quiet RDOM in our n￿1n Glanfa area. which anyone ¢&n use if they are feellng Dvenvhelmed. need prfv3cy, oi If thèy need a space forprayer. In 2022123 Vde 5Dld 7,471 tltk@tsthroushthe Hyntti(ketirt8￿herne. which Isènati¢n•laco55 5chemeensuring thatlhereisa conslstentolleravailable for vlsiiors With an ImpairmEnt or Specific access requireTnent. The ticketsare a￿lIable online, as well as by phone and in person, which Is not the case ateveryvenue. 4.13 tXversKylnÈ4nd 5kllled wortorc• We want WMC to be a home for all- embrxln6 and i￿￿1VIng everyone and celebidtln6 our diflereDce5. a5 an Inthwduil or group. We strive to tell siorles and amplify dlver5evolces, on ourstage5 and in all partsof ¢urworkand cultu￿. WespEakaboutthe Import4r￿e0f theart5 everyday,. but we musl do ffl0￿ tOenC￿rIgtr3¢ce55 to dlfferent peoplefrom a range of backgrwnds toN>in us. Our Diver51t. Action Plan whlch outllnes the step5 we are ta￿n8 to make our pro8rarnme, our wOrkpLB￿ and our èuildin8 more inclusive and representatlve, continues lo guide our work. we celebrate dlver5fty and we netrd to pay attention In eoual mEa5uretO 51rate8y, systems, and process as well asour culture, value5, and behaviour5. Onfy when strètegyand cuhure arealigned can we create 5UStained inclu*¢n. Leodership ondworkforttkeybJohlights-2022-23.' Imp¢ovtd dato iapture we contlntse to Improveda￿ r¥pture lii Ke5pe£t vf ili¥ IridlvlUvo1> wllti wliorn we engage SD we can O￿Ter[raCk iheir diYer51ty. This helps to focus our work in specific a￿3$ to ensure we are inclusive ol underrepresented group5. We have established data capture systems iocollect Information Irom vi5ilin8 (ornpanies in linewllh Equality monhtorlng. Policy reviews-we revlewedallHRpolicies, completewilh EqualitylmpactAssessrnenis.toidentrfyany Ilkelyimwttson protectedcharacteristts and to¢onfiKrn tothe Welsh LanguigeStandard5. s￿ne0four policie5havea150 beenaudiiedbycvrwrtner5slonewall, e.g..ourFamilypolicie5, toensure ihatwe8rtfuHy iDclu%ve andembeddlngEqvality, Dfversityand Inclusion. 5taffand Trustee diversity tTaining-our training 5e5510ns promote diversity and educate Ouf Staff at all levelsabout what tt[Ver￿tY and inrlu5we thinking meanslous Sn 0￿rdaY-l0-dbVlTrteraCl￿nSwIth(o11eague& cu510mers, vlsltDrs, andstakeholder5. 2022123 ttafftrainillgificluded butwas not Ilmited t¢-.'End the Awkward, wlth Scope. Show Rèci5m the Red Catd. Stonewall LG8T AIIy5hlp EinpvwerThiEnt, and Lei'5 Talk About Ratr. Speiific Iralnln8 w35 also provided from Stonewall on Incluyye Service Dellvery, 3rtd the art5 and creative teams had spe£ifiL Deaf Awareness trainingfoilowiD&therecruftmentof a Staff memberwhD Isdoaf. Accreditation ind 855e55ed practises-wecontinued lo bean accrediiedLivingwè8eemployeF anda thsabiltyConfidentEmplo¥er,followingthe relevantftatneworks to ensurewe ￿laIn the tccrediiaiions. workfor￿ Networks- we rontinued ro run Our diver5ty & Inclusion employeè neiwork. Newid. All departmènts are represented. Thls 8roup helps to build ielation5hips. tocreate ￿arThIng op￿unIt￿sand toencou<88E d15CU5￿0050n thetowtof diver511y and Incluslon. Ne￿d'S5p￿ir1C sub.8fDUP5 focu5 on specifK needs acr055 the organlsatlon In relatlon to dlsablllty, race & eihniuty, LGBTQ+, 8Ènd@r, neur0dlve￿ty, scclo- econornic posltion, and We15h language. Developing otsr manaeers- in February 2023, we lavnthed Ask¥￿ our thre&month developrnent WO8ramme to inuEa5e the capabllty of èll rnanagers lnthe0rgani5ati￿. focusing Dn best practiceto equip them with thetoo15 tomana8etheirteams sutce55fully Career enl18htenn￿nt- we offered Valued Partnerships Introductory sessi￿$ to secoDdary school partners and Caieer5 wa￿5, enBagiThg with young petsp￿ to intrDduce them to opportunitiesat WMC.Through thiswurkwe areen5urSngpupils In trea50f Ilmiredarts provislon are show pot•ntiil cJro4r£ av?IlabJ• 1¢ thèm within the Cre?trJe InduStrrc-. Thb5 Jhould enh?rt¢e thc pipelinc of dlverse ta￿1￿¢ liltv Illy drlJ WMC workforte in the future. Ernployment opportunltles-we provided pre-bppNcation trainiD&for uTrder-repiesÈnted Eroup5 who wanttoapplyandl¢in WMC. OurHR team have aLso carriÈd out outreach thloueh Cardiff Council's'caidllf Comrnitmenl, programme. enga8ing with ILKal schoDl$ 10 promote Dur creallve pathways, aswell asto ￿Ildin&re1atIOnshlp5wrth local leaiher5. CANOLFAN MILENIWP4 CYMRU VIALÈ5 MILLENP4IVII CEIITIE 15

Wales Millennium Centre (Limlted by Guarantee) Annual report andfinancial statements Year ended 31 March 2023 TRUSTEES, REPORTI ¢ontlnU8dJ we continued to invest in and be aided by portner5hips with Or￿nisatIonS &killed in supportlni undpfrppre5ented 8roupsat WMC. with partner51ncludingStonewall. Remploy, CltvLen Cymtu3Trd Bo&sand Brew. We havecontinuedtodevek)p our relationship wlth jObcent￿ Plu5. local employment mentors. and Careers Wales to di5CU5s how we work with younz people who feel mar6inalised and unable 10 secure workin the art55Edor. Appreoti¢eshiPs partnershlp Wilh CAVC. Provldin8 opWrtun￿IQS that are not avallable elsewhere, young people can Eain access 10 career5 In the Creative Indu5trie5, eTr5urlnga more dwerse workforce forthefuture. e continued Qui 4.14 VoluntserSng Ourvolunteer 5theme wasjntrodu￿d in 2017 ￿ndcreat￿ an DPPOrtunilyforcommunlty memberstoengagewlth WMC In newanduniqueways.They lunieer in frDnt of house predomintntly are an Invalubble part of our excellent tustomer 5ervlce. The Usual ushering volunteer roles were available during the year our volunteers have also provided out513ndlng Customer service Sn Our new digital venue Bocs. and supported Dur community event5. Includin8our first Iftar. a5 w￿4 a5 bein8 weltome host5. durin8 the period of di5ruptioTr caused bythe construction work froni ol house Ourvolunteers, continued invdvement wst pandemK demoDstratesthelr on8Oingcommilmentio the WMC. In 2022123.. Ourfamllyof ¥oiunteers increased by Il%. toa lotalol 217. Wewdcomed 73 llewvoltsnieers, arvj our retention tsteremainshigh. Each volunteer¢oTrtributed an aveFa8eof 112 hour50f thelr tlmetoWfvK durin8the year, a t￿bined total 0122,775 hours. OuivDlunteer5 are proud tO8we rhelrtimeto WMC. [IVslstsch t05hgre thee¥p8fl8￿eoJ￿E5hO￿5￿￿QAUcl1W11￿5 wlth the oencroffpublicin thlsmogt)if¢eNtbuildinq'. '1 love it here thonkfvlltsl tbe txpertence golnett, opportU4ltte5 to tryfQLv thinw. and the pleu5ure I btswe trttdcorybnue to hO￿oS partof the WolesAlyllennyym Centrefvmlly., Volunteerfeedbaik Ovr Annual VoluNteer Survey in Morch 2023 r￿alS volunieers. IDY In 8lwn8 back tD the £ommunily, connectlng Iike-minded indvlduaL%, •nd 5harin8the tFansformitive irnpait of live theatre with our audiences. 94% ofourvolumeersare proud togive theirriffleto Wmcand morethan half feel that the1rconf￿￿ce has Increased. wtrcontinue toextendthe reachaDd awarenessof ourvdunleer prograrnme. uring the year, this Included.. v15115 to local tolleges in Cardiff and Merthyr attendance ai freshpr5' fair5.' updatin8 Dtsr volunteer webpa8es'. advertiSin8OnCardiff ThirdSectorCDun¢il..and meetin84Wth Printe'sTrusi loembedouropportunilie51nlotheirpractices. Wehavea150beendell8hted ro welcome indNKlua15 who Inltiallyengagedwith usthrough 80$$ & Brewtraining, and as8 re5ultof that experlence, ha¥e£hosen tololn ourvolunteer prDgramme. Whllsi we ale stlll capturlnl datè from our standln8 volunteets. the data we do have h¥hI￿lsth3t we have also diver5if4ed the group and V4111 They areyoun£er- 16X arè Jfider 30 lupfrom 8% lattiarl There Is better8ender baLBnce-athlrdare now ￿le- hl8herthan at any pre¥i¢uspoint SIn￿ kunchingthE progiamrne. There is a Mderiangeof ethnklty- 7% are 8LBck Askin and ethnlcallydiver5ellncludlng mixÉdlmuMiple ethnlc8roupsl- the hi8he5t prowrtbn nce 2018. Wecontinue torece￿e se¢torrecoEnition lorotsrvdvnteeringeffort5. both a$anor￿DiSa¢I0n IhatoffersvoltsnteerinB OPW>rtunltles, buialso IhiouBh ourpirtlclpatlon In TempoTime CrEdit5 Neiwork. We are proud to note thatduringthe yearourvolunteercoordinator, w35 again nominatsd lorVolunteerCoordinatOf of the Yearai thÈCardiff Third %prtrnr rrtiinril Vnliintppr awards WhilÉt £ho dad nyl thig 3w3rd. she Gwn a ￿pe<la1 Iccognition l¢r thc tsurnbtr of nominatlon5 she reieived and lorthe sizeof our prOgrammeandallthedut￿SShe undertakes. CANOLFAN IlllENIwM tYHRU WALES MILLENMIUM 16

Wales Millennium Centre Iumlted byGu3ranteel Annual report and financial ststements Year ended 31 March 2023 TRUSTEES, REPORT Iiontlnuedl 4.15 Partnets Ih Cr¥t1￿ty Workin8 in partnershlp is Inte8ral to the work thai wmc undertakes. we put colla￿￿tIOn and co-productlon at the heart of our wslon. facilitstln8 relalioD5hip5andconne£tk)nsthatc3n ￿veragere5(WrceStO Inirea5e partlclpatlon InC￿311¥eano ojttutallife. Thesearesorneof ourkeypartnerships Royal WetshColle8e of Muslcand Dram• IRWCMDI- worknn8ln a numbe¢ ofways. primÈrilyh05tin8pI?¢ements and Buest letturinitOSuppDrt their MA In Arts Manazement. CardWf¥nd ValeCollpge- deliver5 hiih-qualltytpinin8and educationwithin the Capital Regionof wale Wew￿ked in partnershipwith CAVCon our iechni¢al apprentice pro8ramtne and our Digital PathWaYsapwent￿eship scheme. Weare a150wothng ￿th them onthedevePopment of our Maker Spacespr4ect, Platfform. Career5wa1￿. pro￿￿e5 InOepelldeDtand ImpaTlial carEET5 Inforrnation, ind 8uldancetoyoun8 peopleandaovhs acr055Wale5. Weworkedln partnership with Careers Wales on ihe delivery of our Valued Partnerships pro8rèmme. The prOB￿rn￿e. hosted at WMC, offeis our six partner secondary￿hOolS￿ehlnd-th U5t ht5from s Creat￿ 4nd ¢uur¥l Skllls ICC sk11￿) we shafe the CC Skills goal of enablin£ the creatl¥e and ¢ultuBI indu5triesto reach theireconomic poteniial through relevant skillsand tr¥inihg.WecontiTruedtocollabor3tewiththem onthe developmentof mentoring?rtd krsoqèI devek>pment plans lor the Y￿A8 people with whom we ensage. Valleys Klds- wè tontinued our 5ubstant5a1 and lon8-StandlnB P3rtnership with Valley5 Kids, throu8h Dui thared progratTrme. Together Stronger. The pro8ramrne is de518nedto provide ¢reative opportunitie5for young people irtthevalley5 and ha5 resulted In major Iransformttional change IOT WMC. T￿th@r$t￿)Th$￿riS primar11ydp￿￿erPd byV3lleyKlds' ¥￿th￿rtS proiecl. Sp8r£. ¥ndour Creative Learningteam. prtJKe's Trvst- wedellverEd Radio PlatFfortDtrainingwrththe Prlnce'5Tru#, anotheysupport ustopromote ourcreailvevoi￿ programrne. ProMoCyThTrw-a creative orEanI￿tIon woikn8 to ens￿rE yo￿n6 people and wmtnunitie5 are inforrned, connected and heard. We worktO8etherto developanddellver cre3tSve learnlng pro8rammesincludingour Creatfve Voke Radlo tralningcoursE. aspart of Radio P5atfforrn. YMtA 5wansea- aim to Improve the quality Ot lite tor chikjren, young people and cornmunits in 5wan5ea atbd 5urroundlng area& In 2022123 we workedwith themon IhedEliveryof a Crealivevolce Illrnmakln8course, which nirteyouog carer5took part In. Uamau- a le3dinB hom￿leSs￿e55th￿rty in W?le5. support￿&the rnovulnerableyoun8 people and women. we worked wlth thern on SncreasSnB the engagement and reach of our creative wo8rarnmes, in¢ludin8 Dtos N05. Creativevolceand pF3cwnents. alsthooL%-wework in partnership with local schools ￿ a numberof way5'. Valued Partnershlps- SIA sthoo15 earh v151t WMC 3 tlme5 a ￿ar. Our gx partner 5(hoots thls yearare.. F￿3a[4Th High Schty)l. Cathays High School. Willows Hi8h SchoDI lall Cardlfl, Ysgol Gath OIw8 (welsh LanBuage school, Pontypriddl, Ysgol Y Deri (Special Needs5ch0￿, Valeof Glamorganl and 5tJulian'55choDI (Newportl. Cardtllcommltmeni (through Car4￿1(0VnCIii-wMc attenda Buslness Forum Mth various local xhLv>15 wherebysouth Wales based Or￿17￿￿tIo11S iiieel ￿lL1] vvvuiLuiilllys. Oiie vf the InlTlatlve5illrou8nc3r¢irycommiimeni Isvpenvour ws Week.. PupiKs learnabout career opdonseaityto [￿ntsat ingrained stefeotyplngthai sets in at PTim3ry3ge. It (hal￿ngeS£endera￿d classsterwtypesto pro¥ide'1￿￿tbuIb moments, ty ￿Th￿ng8 wèriety of in5pirins Profes￿onal5 into the tlassroDt It eDible5 pupi15 todlscoverthelr pasons, develop their dreams, explore theirpla¢e in the worfd of work li reallse5 0￿r￿lSOn to be a ¢tyworkin8 In partner5hlpto In5plre its Chi￿ren ind yQUnB peopletowards a better future. Communl B￿￿tt￿￿ Arts Cvllyrwl A550clatlon IBACAI- We partner wth 8ACA on their anDual Carnfval celebratiDns and have devebpEd oui relationshlp th themto 5UPPOrttheirambltlon5 to growthÈ artfortn reach of Butetown Camlv31. 0￿15 Is a n￿-prO￿T cttariry rhaT aims to help ￿e￿￿eee5 ano A5yivm seekers In caraitl. We worked wlth Ihem on a number ol community programmes as well as working with their (ateriDB tearn to provlde locKI ai various community events. Includln8 oul St 0aV￿ Oay ¢debrat￿n on i March 2023. CANOLFAN NIILÉPii¥vNI CYMIV WALeS 14iLLEHMIUM CENTRE 17

Wales Mlllennium Centre lknmited by Guarantee) Annual reportand financial statements Year ended 31 March 2023 TRUSTEES, REPORT coptinuedl wle5Tamll Sansam- We worked with thisgroupon a varleiyof projectsincludlngthe (e￿b￿tIon of Tèmll New Yearand Dlw311. VolcesfrrAn Ca￿- peop￿ tO8ether Ihroughout wa￿SWhO are or ha been looked after. We have worked with themona rangeof pr4erts, most >gnffjiontly. oursing prDud Cymru thoir. W ￿nr￿￿￿ with fro¢l3ocè 3rti#tÉ 3nd f3cilitatn wlth Ind￿1￿￿31 artist$ and cuttvral freelan¢ersfrom acr055 Wale& We proknided space and resources for 3 Wide r3nge of creatlves in Wale5to play. èxpbr@3rO grow thelr own work Ignd5ector-wlde Grt Future Generations Commlssh)rr - h4￿n8 publlc bDdle$ 10 think aLw)ut the k)n8-iemi Impart their dec15ians h3¥e. We supwrted the Future GenerationsLeader5hipAcademyand wminatÈd a young per￿n we have worked wllhio take part. Creu Cymru- the nationa1 member orgaDi5atioTr for theat￿$ and pertormins art5 ￿nITe5 In WaFe> wew0￿edw1th them to collaborate. advoate and share Inforrnauon and resource5 Wlth other venues acro$5Wa￿$. t)Ahtp fnncnrtiiitn- wlth ? sh?rèd P>S£iOn for on838in8 PoopI* with ¢Ontempor3ry dllnc¢lr¢m different pirt5 of thc world. the D4n¢c Conjtsrtrum IJ gr￿p pf 20 venues across the UK. We worked together lo find dantr ¢ompanie5. Wlth productlons that will Ex(ile. challen8e, entertaln and inspire udienre5. Re8lDnal theatrevenue5- we routlnely en8aie with a network Of rÈ8lonal theitre wenues to collaborate and Share best practice, key challen8es and opportunitles. dent rtnersh We continueto rneet regularty wkh WMCCEntre'5 reS￿ent compan￿5 to fvrthereDhaDce our offer as a creative ¢aThpu5..and keep them upto date ith Infrastructural development5. We have also been workinR with residents on thelr bqsibilitv In the ffODt of house arèas and at PDtenti31 crp.atlve (ollaborarion5throu8h maker spa05 design IMr￿[SIve experlente& Urdd National DaTr￿ Company Wales We15h Natlon8lOper Ty Cerdd CAtr40LFAPI NIILÉNIWM CYMAU WALES MILLEMMIUM CENTR 18

Wale5 Millennium Centre ILSmSted by GuarantÈÈl Annual report and financial statement5 Yearended 31 March 2023 TRUSTEES, REPORTI COntinueLII Touch Trust Llterature Wèles BBC NOW 4.16 TeSs￿vrI Con50rt1urn Te5Sltura is our core tu#¢mer database. and It is used lo manage all ctsstomer dats in£ludln8 ticket member5hip5, marketin8 camp¥4%ns. fundralsln& É-mailin8115rs. iommunityoutrèach dat3. and reportin& WMC was the first IKensee of the To551tura software in Evrope 8nd 81so the first toe5t3bllsh a con50rtium to sharethe software with othersln Ihe UK. Thls yeaf we continued to inte8ratE Tèssilura with other WMC systems 10 Improve efficienties acr055 the organlsatlon we iompleled a number of Te5sltwa projÈcts in¢luding the automation ol exportand import protesses with Ourfinan￿ system. SageX3. to Improve the effl¢ien(y and accuracy of dalty reconc￿lIatIons, and we develDpd an openAPI for DisneyTi¢kets. to improve real-time repDrtiTrgof ticket sales proce55ed through third partv 8ents.. Wè also worked with Te￿￿tuts Network to ImFwve OUr￿ckelnE proce55 for CardifF Metropolitan University Graduations. Thi5 ha5 5treamllned the ticketorderlng& d@Ihery proce55e5. DurinE 2022-23WNO& NDCWales remalned aSConMiurn Partners. We met regularlyasa consortiumtoco113borate onjoint pr￿$5 Improvemenis n rel3tlDn to data rètention and data mana8emeTrt. We attended the Tessitura NetwDrk Conferente in March 2023 to hear about the next versbn release IV1613nd plan ourfuture roadmap. 4.17 Diqlttsatio We continue to develDP our dl8lt15?tlon roadmap to drive operatlonJl efflclerKie¥ lower cost5. and meei èvdienre expernatlon5. Key de¥eknpmenis this yearhave included.. Abilitvto exchanRe Ilcketsonline wlthln 3 4Koductlon. ￿bl￿tttn￿vaIlxhl1jty. ADnrt)ylmAtpty SO￿ oexchang•É arq nowcomplgt•d ¢nlin•. Redesign of ¢u5tomeF'5 My Acco￿11 sett￿n on the webslte, enabllng users to find and exth3nÉe ticket5, access memberthip cards. and u￿ale settin85 more ea51ty. Enhanced functionality forG￿P bookin8s- re5ervatlon4 edlts. ani% paytDEnt5 can all not be compieted online- prevK)usty only availab byphane or In person Launch of Apple Pay 10 improve converslon Faie. lrnprovecu5tomer service ar￿ meet cu5tomere%p￿tIQThs. Standardisarion of e-IKkeis¥¢r0$50nfine aTrd phone Orders. Asa resultof di81t1￿tion, morethango%olotsrtitket5are 50klonllne. andimDfovEd 5elf-servlcefunction3lltyh35rp41111pd 1nlÈ%¢rii￿t￿nryr demand5 on our contatt trntre DI1￿ average calls in 2022123 were down 20% year-on-year. lo an averagÈ of 156 ca115 a day. 0311y average chais inltyated wa bot-sypported web chat platform were up 17% year-on-yeai. to an average 01128 chats a day. Where web chat users repuirecl human a$S￿8￿Cedurin8 Staffed houis, we hit ¢urtarget of successfulty wnnecting80% to an 38ent. 4.18 Mgdla cthint¥nd Stcrytellln8acr¢)SS Ourplwtfvm Compared ￿th the pre¥lou5year. ourpage viewshève inc¢èa%@d by83KaTrd (￿r Un￿￿È￿ewSI￿9)% and Our newgse£tion's unv4ue vsersincreased by 20% year on ￿ar. We categDiiouf Social medL3content tsmpaignsinio three arèas., Salesand footfall- e￿OuragIng people 10 buya[￿ v15ft creJrfveoppDrtunitye5- 5nowca51ll8 ourartisti¢work Impactlstorytellw- sharingrne?nin£ful stories. We adjust the relatl¥e proportion of each dependènt on the communlcation ¢hannpl and the target audienie we are t￿n8 to reach. Facebook contlntses to ￿ Our 5tron8e5t social platForm lor DGT 5ale5, whilst Insta8Bm ha5 been SUC￿551￿1 in rEa(hing youTrger audiencEsacfos5 Cabarei. Llals CANOLFAW MILEN1w￿ CYHRU VIALES mILLE￿NIu￿r CINT•E 19

Wales Mlllennium Centre lknmited by Guaranteel Annual rÈwrt8nd financial statements Yearended 31 March 2023 TRUSTEES, REPORTI continuedl A5 our 5alesand 3udlerKe numbers have recO￿red pst-pandemlc, ￿ has ourdiotal traHlc and s(Kial Thedia enga8emeni. ComwrEd toour ￿Stple- andÈmic ￿ar, 2019120. 2021-23 has seèn steadygrowth with an incfEè5e in enga8ernent1415.3%1. new lollower51+12.8%1 and reach117.3%1. Our focus makiDg unique video content On Mek platforms, In particular In5tagratn. ha5 driven those number5. Wlth an increase of 84% In wdÈo views yearonyear. sales S Footfall Facebook contSnues to be our str￿8251 S￿bal platfofrn lor DGT sales. whilst Insts8ram has been SUC￿Ss[u1 in reaching younger auctvdnces across ba￿L Llai5ènd Ourcreativeopporiunltles. Ourtop nev4$ 5toryin this categoryln 2022123wès Yop5how5 2023,, which had 25Kvw5. Digital content continuesto bean imp(rtont part of our marketingcampaign stratE8yfor WMC Produttions.. In 2022123. we created our first Welsh language TV advert for oui Welsh prodvction. Anlhern. Thls ran for three weeks on 54C and was 5cheduleO around some key prosrarnrnes Including the nation's Cor Cymru competition. HenD. Newyddion and the urdd ElstÈddfod. The advtrt3ihieYed over640,Om impacts and wa5 also used as a di8ital advert on Meta. reachlngover5,(hJ) Iwal We15h langua8e users. e5noT a mu51cvioeo In Newpon witn wmerano pertormer connorAiien in re5pectof theprodullion. The Makin8iif a Monster. Thlswas ourrnostvlewedtrailerin 2022123. attractln813.OWwiEwsasare5uhof a paldYDuTubecampaign.Thetra5￿[WaS51SoprQMotedOn Screens acro55 ourslte. Forour Cabaret venup launch, we created è tiailer aad an Illten5￿ content frdmework for Insta8ram, feurin8 behind-th&scenes wd•) sketche5 Wlth artlsts. Thetrai￿r was used a5 a rnultl-channel carnp31gn acrossour 50clals, webslte. e-new51etters, and our on-slte screens. To showcase Bo¢s. we rnade a trailer on our lrnmer9ve eipEriefiie5 WO8ramme. We hosted th15 trailer on our WebS￿e and our YouTube channel promoted iton oursoclals. Lla15 a150 Saw the creation ol evergreen PfQmQ video content, feat￿lIne one of ourCreativeAssotk3te's, futni Williams. Durin8 the festival, we co¥eredlrontèndb8¢k51age heavilyw5th￿deOand phoioÈfaphycapturln8the3Cts, set Iisis. aUd￿n￿ reactlons and Intemews. WE also 5hota highlight5 reel and Indiv￿u01rl11ll5 wlth several acts whichv41111)e used in the run-uptothÈ13un¢h of 2023. Creatl¥e Opp¢rtunitYd5 Asoul programme has grown,we have continued to publish call out5forartis, videos onourexperience5 forvounE peop￿ 5Uth asLSfe Hackand NosDr05 asa wayof enga8ingmore yourtg people ID future events. We havealso stèrted t￿ating￿deo5 Wlthcourse leaderslwungpeDp￿ introduclnz newcoursesforsoci81 Tnedla. WE are rebrandln8 the creative le¥rnin8 offerto appear bettertoyoung pèople and wlll be re-13urKhinÈthe Get Involved s￿tIOn0tthe website. Thi5 wlll include up¢omin8cour5esa5 well as short vldeo c35e51ud￿Sf0TY0Ung people iosee whatthey could learn and mini trillers forcour5esthai a run ffequeniiy. Sut4ect tofun¢inBwewill a150 have toe￿hteveryreeTr onlinecourses on cNe topits caTr be accessed 3ftd vwed anybme anywhere. We woukl Ilke ro8mwOuremail database olyoungerpeo￿et¢ c¢ate rnoret3rRetedcommunIcat￿n53bOutwha￿5 onfar them. We will bèwOTking closely with creative learnlng statland p8rticipantsto d￿ek>pthÈ and tone ol voice aswell 353 contentframeworkfor the new mèkei spa social media channels. Impèrt andstorytellins We're flrln8 ImaBinationswith iffla8inaiive srorytelllng, both d¥italtyandwithin our bulldill8. t>rferthe pa5tyear. we shot and publlshed 13 Video tase sludles under0￿{ banng.r. We Flre 1m3glnat￿ns Thisis more than we have evai done before. These Includedvideos ona range olioplcs Indudin8 Kiara Sullivanwho runsouf Valley5 KkJ5 partnershlp In Porth Radlo Platllomi in Porth Belhany Lhivivb. viiyvfvui I¥￿1￿111L￿l dvvreiitite5 Creat￿e assoclate fumi Willalm5 H3med and He55arn Amlrf onThe g¢y withTwo Hearts Llk)Jamesthe textlle deS￿ne[whOcreated Ffwrnais wshion5 und exhibltlon CAtrIOLFAFI MILENIWM CYMR VIAL&5 MILLENPI•iIM CEMTRf 20

Wa￿S Millenniyrn Centre (Limited by Guarantee) Annual report ènd financial statements Year ended 31 March 2023 TRUSTEES, REPORTI At the heart of ihese films werethe young pwple and artists With whom we Work. These ts5e 51udles recelved thE most ￿deD erygement on our Kial platfomis duringtheyear. We also showcased ourwork wlthcommufiitle5, artlstsand young people ijn InStag￿rn Reels andstorie5. re5￿tIng in our engagement8rowlngby 125.5% compared to 2021122. we￿(￿tty wblished a showreel forallthal wa￿$MIllennIum Centre doesandarecurTenttyreviewingourWhai we doa￿ Yourvlsft sectlonsofthe web511eto streamNr the content and ensure rt 15 UP todate in term50f user netrjsaswell as our keyme$53ges. In September, the |3r8est digitsi screen in5tallaiion of its kind in Europe was instal￿d on the front of our building. Spanning 42 meters, the LG trans￿lent filTn meters use tnotloll graphics to create another window Into our work and to h￿p invite new avdiences inside usirt8 flexib me5sa81 WedevelDpedthecontentforthese screen5Wlth the external agency Orchard. withihe alm of losterin8awarrn, in¢lusivewekome and a celebration of our spa￿5 and prograrnmed activltv. The xreen5 lawched with a mulii-llngu31 welcome ￿e￿Se which brought much praise and iomment from thecommunity. We h3vÈ?lsoèdded vinyl coveringsto UTrUsed Side ￿The1$to highll8ht storles frotn our local Ccrmmunity. Malu newintema15creens In Ffwrnèi5wentlivewhen thespaceopenEd in March 2023. enablln8 UStocomrnuni¢ate keyMeS￿8esIswelpas kyomme showsrnDreeffertlvelytOV15itois to ourbuilding. 4.19 F￿raISI￿ Fundraislnl contlnued 10 be challen8ing throughout 2022123 in the aftermath of thE Coronavlrus pandemic. All potential source5 of funds re impactedih some way bythe pandÈrnit. 35wasourdetyèl0p￿￿ntte3yn. Weare now rebulldiDgthÈteatn inthe Weof rai5in8 od¢ltlonalfundstts help us achieve ourambltknn We raised a tDtal of £l.Im In 2022123, from donations. Individual and corpDrate membership. tnajor glfrs, corporate partnershlw and trusts and foundat1ons.This1san Incrèase of ÉOAffl campared to É0.5m raised 2019120. We suc￿551￿11Y applied for a toièl of £0.5m of trust and foU[￿atIon support from Moondance Foundation, &mon GibxTrn CharStable Trust, Mary mfrèychiritable Trv>t. 4rtJ Couniil of Wale5. We1511 Ouvtiiiiriyiil dii(J LhEWor5hiplui uveryiompany Of wales. wtrcontinue to be gr8tefLJI lo our f3rn1ty of corpDrate supporters. fwm whom EO.3m was generated fwm iorporate 5UPPOrt partnership5. These Included strategic partners, Cardiff Met Universlty. who Increased thelr Support diJrin8 the yèar to reflect the intre85ed scale ol their Successful graduations. Our corporate paitnEr5hip5 Wlth Oui otricial 5uppllers Parmer C3rdrfflQPart GlamoTgan Brewin& Future Inns continued. Admiral, Sonyand Howell'5 scho￿ were arnon8 ourcorporate Supporter5. wehadètmal of 1,377 membersattheend olthefinancLBlyear. Twothlrdsofourffrtnd member5and 94%ofihehiÈhertiei memters haverenewed thi5year. Se*tsl indNiduals whtsare part of ourchalrfs CirclE8roup, also made large perSonal¢￿atrun5. WE would Ilke to thank each and everyone of (￿r5￿pporterSWhocoTrt￿Ue to glve genErously to support our work ¥Alh youn8 people, communtties andcrÈatives. en5urin8that wèare ableio makethe art5 ac(e5sibleto all and develop creative talent In Wales. The team ¢pntinue to reviev4 afKI it5 ethlcal poI￿Y for corporate relabth5 and fundraising practrce in relati¢D to General Data ProiertioTr Re8uiItlOnslGDPRI and collection of GIft￿d. we Continue lo workwith thEFundraisingReÉulatortoenstsreg¢¢dgovernance in fundraisins. FlThAKl•l Review l Durlne thè ￿ar. the C￿rty had intome of £26.Sm 12022.. E15.7rnl and inturred eXpendItu￿ of £27.4m12022". £18.oml. Expendfture Ir3cludes depreclatlon and arnortisation ofE23m12022.. £2.2ml ￿th of which are non<ash item5. Theflnanclalyearthereforeshows a nÈrexpenditureof El.Sm Ibefore depreclationand arnortSsatlonl. In line WFthCharlty income rewgnltion rules, the IncoTne fromthÈCultur31 Recovery Fund recwved in 2021122 w35 recognlsed In full inthEyear itwas re￿vett. The funds w2re pla￿d in restrtcted re5eThesat the end of theflnanclalyearto be5pent In line with theappllcatron5 ID 5ub5equent financrdl yeatt. ￿ notcd wetriQusfinrynciDI 5tat¢niei)l5. iesLI1Ll¥￿ li￿L ¥X￿1101tulet4a5 been seen In20k4lJ.the pen0o1nwhiCn tnesefun05hèvebeen spent. CANOLFAN HILEtrIiwH CYMIU WALE5 MILLENNIUM CENTNE 21

Wale5 MSlknnium C￿nt￿ lknrnited by Guarantee) Annual reportand financrdl Statements Yearended 31 March 2023 TRUSTEES, REPORT Irontlnyedl ThE Charws prfnwlfiwncvJl managementpdkbÈ$ar- To meet the annual operatin8 bud8eLtatital plans3￿ cash flow., To manage Chariws reserves in lifje withchaiw ComMi$slon Sulda￿ea￿d ourthree-year si¢aieÈic plan., Applyin8c3sh suiplusesio Ensure the m3intenanceand dEvelopmentoftheChartty3ndtoin¥est In furtherdnceofthÈth¥itableobje¢twes.' Establi5hinglinancial,creative. businessplaTrniD&marketlng,commer¢i31. personnelandfundralslngpoli¢e5t0a￿1sttheTrus￿eesln meetin8 thelr oblectlves, In keeping with best corporate 8overnan¢e and prattl￿ Mandard", Adoption of corp)tate go4prnance3nd enN4ronment81 policiesto bestpractte stsndird5. 5.1 The princlpalfundinB sources wlthln the businessforthe year ended 31 March 202315hown prDWrtionaiely aEainsttotsl income) are theatre Income 66%12022.. 36%1,' comrnerclal Income 13%12022.. 15%>., donaiions and ¥w)ll50r5hip Incijrne 4% 12022.. 3%) and GTant5, Arts CoyncllWale5 and Governmentsupp¢rt 17%12022'. 46%1. 5.4 The¢urrentannualArtsCouicllofW•les IACWJ revenuefundlngagreemenito31 March 2023 IE3.6ml enabledthecharltyto meetitscontractual obllgationsthrou8ho￿ rhisytèrand delNeron ftsoblertKEs. There 15 3 So-yearcapltal asset plan forthe Charvcy that indicatesan JDnual repair and malntenance requirerneni of clrca £SODk. A¢W had ¥y￿d an annual capital subsidy of E3(X)k per annum, IOT the year ended 31 March 2023. This iapltal granL alons With a ¢OAtinued cap1131 malntenance contributk)n from the Charitv and ils Residents Will enable the buildine to be malntained in lihÈ with ihp CAphtal plan In th th￿￿111￿1 tprrn Th Continue lo ieview the reserve5 10 ensu￿ Ihey remain appropr13te. Addlllonèl futvJ5 have been des￿nated to eTrsure adequate In￿Stment in the charites èsse15 lTrthe comin8year. 53 Finance & Audit Committee 15 re5PDn5ible for provlding Oversht of the Centre'5 flnanclal investment 5trdte8V to the Ètsard. The Investment objectivesare lo manage the Centre's lonE-term cash resources togenerate inctyhe, within a prudent and careful strategy, taking note of any ethical conslderhtions before adding investrnents Iolhe wrtfdio. Atthe yearend. thÈCÈntrÈ hèld c35h dewsits and manè8Éd funds45detsiled In Note zo. 5.6 The abilitytoestabli5hfinaDcial reserves Isa consequertce of achlewn8an operatln8 surplusln any 8i¥en year. We antlcipatethatwe will achleve breakeven Pos￿10n in z023124. Ourreserve5 policy Is th allo¢e sutpIu5to capital rnalnten3nce in the first instance to malntaln srandar¢Js Inthe medlum terrn and are then allocate In Furtho¢>Th¢oofthè¢h3rit3blEobjertivy..prrmfilyin respcit of ourcrc4tive¥mèitlonèndirt rai￿n6thCoSP1rarIO￿sQrYQUIlfjpeVp1virl IllLlytsli capital investment. The Trustees have reweweLt the ChariV5 needs for reseries in line with the £Uhlance is9Jed by the CharltyCommls$kJn. and in li8hl of the uncertaln time5 In which we I￿Ve. Trustees have determined that on appropriate ￿Ve1 of free reserves to address operatlonal rlsks for the mana8Èment of uTreipeded reductions in income or in¢rea5E5 in expenditure, should equate to three months runnln8 cosis l£1.6rn iurreTrtly, 2022.. £1.6ml ialihÉ ccounl of the iurrent economlt condition5 and our business modd. Whilst our free rese￿e5 a￿ held èi three tty)nth5 runnin8 costs, our total free n￿￿￿]enated reserve5tiJmbined stand at£2 9m. whrche4UètE5toappr¢yAlm8ietylve months runnin£co5t5. Free re%ervesat3J March 2023 standat E2.2ml2022..£2.5ml.Thecurrentfree reserves rositionistaltuL3ted uslngtheunrestrlcie6NetCutrentA5sets of£2.PAn plus£O.7rn Imtsimentaccount. le55 the amount of desiEnaiedfund50f £1.3rn12022.' E3rn1. TheTru5tees have deslgnated É0.6m for essential capital m8intenaTrTr. Ovring 2022123, work be8anon our FOH redevek)pment ￿rk enh¥￿ing our public swcesan(l¢reatingtheopwrtunltytO8Èner3iefurther commerclal revenuesfDrreinve51menrinourtharitablÈ purpose. To date. £3.5mof the £4.6ITI tutal pro1￿[ EQ￿5 have oeen speni. wniisi tne capiiai oe¥eioptnent reserve tor this, and other. capltal projects at 31 M8r¢h 2013 5$ £D.5m, a tommer¢i81 loan faality of £1.3m has been 38reed in principle wlthour bankers, UDyi15 8ankingGroup, to lund thÈ anticipated Shortfall. Empltyft¥lw•￿ernertand ern9￿t￿l0￿di$aIA￿d people WMC not escape the-Great ResigrtatK)n 2022" with 39 Fesignatiws during Iheyear. As a ￿su￿t, recruitment colli1￿L￿ alon8￿de febulldln8 post pandemicand over44 pemianentano fixed ierm contratt coNertuèswereapw>lnted, and an additional 85 peop￿ en838ed on iero hourscontTrtt5. Inadditlonto recrurtmenL otherkevattiv￿Its duringtheyear included'.- TOSUPPQrt Improvements Inthe retrultmentproce5% a new reCr￿ltMentsY5lern. BlueOctOPUSwèSintrr￿uCed Th155yStemautomaiestheprocess and provide5 greaier sell-service Opportunit￿5forbolh the iecruilin8 m8n38er and candldates and enables us to implement our posltlve artlon commitment to ulldEf-rEpre5ented groups who appty for role5. as well as more easlty tr¥kinB the progre55 01 recrultmeni wkic made the decI￿On to move from anonyrn15ed recrultment topositive aaion asth15wasseen to Moreac(e￿bje wayol recruitingfrDm thegroup5 that a￿t￿rrent￿ under-representedatWMC. AII HR PDII(ie5have been r&wrltten and ￿blIShed onthg HR Hiib. All polkièlwillbe r•Newed annJalTrrftO&nSurethey?re uptodate wlth current iislètion and best practice, withthe fir51 annual re¥￿W takin8 place in 2022123. CANOL5API MILENIWN CYNRU WALÉS MILLENNIUM CEIITRE 22

Wales Mlllennlum CentrÈ lknrnited by Guarantee) Annual report and financial 5tstements Year ended 31 March 2023 TRUSTEES, REPORTI ccntlnuedl Anlnternal leadershipdevelopmentprogranNne,ASPIRE ￿SlaUnchedtO strengthenthepeop1e￿aderShppcapabSIftIesOfeXIs11ngfflaTh¥8trS. Thi5 will runthrough 2023-24, partnering with an external providerto d4iver th2 5ki115elernem ofthe tr31nlng. SuccessiDn plinning hasbeen undertakendurin8the yearat ￿ead of Department level andabtr4È.with a ranze oldeveloprnÈnt 3ct4onsidentified to progress over the comingyear. Remained a Reil Living Wa8eaLrredlted emplwr. with thereal Iivingwage settlngthe baselineforour5alary 5rrutture. Further embe¢bJed the sahry 5trurture, Imjementingquarterty ro￿ levelling sessl¢yi$ 10 ensurethat all role5 are evaluated and mapped to the salarystructure, ensuringsalary lor the ro rÈflÈttsthe re5PWslbllllles of the rde. WMC ran its first full engagernent survty for permanent & fixed terrn collea8ues slnce 2019. vlith a 56% return rate. f Artlon plans have been crealeo by e¥h department with a companywldeeng38emÈnt ￿￿n tr•¥edto hddre55 feedback rècèiv&. In lisht of the cost-of-Il¥ln8 crfsts. we supported all cdlea8ues vla a ￿e-Off p¥yrnent which was rn￿e over the last quarter of the year Whilst dlfterent arianiement5 were In ￿3￿. a cost-of-liwng paymentWa5 made tDthDseon petmaneDI, fixed term andlero-hour tontrèrt5. A5 part of Health and Well-beinB plan5. WMC launched a numberof new initiatives. 1ncluding5nackaoxes.freet￿Ie1riesand s3nlt3ry prtsdurtsos well a5introduclng a new benelit to Stsff in Iheform of a health cash p13n with Medicash. Th15 plan encouts8es emplDyeesto be pr(Factivewlth the mallaRemenl of their d3v-tD-dav ohvsi¢al health. and Include5 dental. Dotital and Dhy5K)IhgrApy fNvprlnÉ th rn¢tr Eiirh fr￿￿M￿ntS espec￿￿￿¥ Important durin8the current105tof I1￿1n8c￿sls. This benefit(orn￿eMent5OureXi$t1tsg benefit5 Surrounding mental health.- EmplDyee As51llance Pro¥ramme, Mental Htatth Fir51 Aider5, and mental health & well-beingworkshop5. Finan¢i81 health was 5UPPOrted through linan¢lal education OTr pen510n5. A Health and Well-beingsur¥ey was conducted in ¥rly2023. which wlll Influen￿ luttsre acti￿ts. A5 al endof Mar£h 2023, the￿ wa5 increase in oureihnicallydiwerseworkforceflotn 6%to9% ascompared to theend of the prevlousflnancbl year. O¥erthe la 12 mortths. under ihe D￿Ver￿ty3ndJr￿V￿0n weha devebpEd relatlonshlps wlth 3 I￿81 s(hoD15to provlde pathw3Y5 Into WMC undeiourvalued partnÈrshlp inltlatfve. prD¥￿Ed a hon￿ wlthln WMC to Btrss and Brew. a local socK31 enterprse which provlde5 Barlsta t￿nIng to youni peop￿ from the local rommunjty. proviaeo iraining ro ￿(rease awarene55 01 me chai￿nge5 tsce4 )y0i5abled peop￿ In the workpbte shared be# practice in Se￿[edeliVery and allyship ILG8TQ+l with the support olstonewall contiDued the tsr8eted education ol keygroups In under5tandingthe barriersfaced bythose fromtheethnicallydiver5e community, supplemenied byshared lived eXperien￿S from WMC¢olleague5. Wmrys PÉople 5trate8y. ￿l?￿nched in 2021121 cijntinuesto bpembedded in theor&anisation, a￿10rMslhe basisof futufE att1￿17e5 af the HR team. r&ksand uncertalnts TheBoardhasin#ituteOaformalri5k managementprocesstoassessbusinessri5ksandlmplementrtskmanagernentstrate8ies. ThislTrvol¥ed identifying the type5 of ri5k5 the company faces, priorltlsing Ih•h IA lerffls ol poientlal Impact and likellhood of occurrence and Identifying mean5 of mili&atin8 thox rfJ&J. R15k5were rev￿wed, ￿[￿41ed and shared quarterly * Flnance &Audit Committee meetln8S. Re1K3n￿ on publ1¢ fundswith Inve5rmeM ￿vIeW ImminenL amid riskof eCOn￿1C recession Cyber secvrtyènd dats prot￿tiOn3S a rewltof current environmentand retO8nised external ri5ksand threats Security- the £eiurilyof ¥n Konic buSKine ènd tour15t attrartion, and public safetyètthevenue IrKreased cosis dueto inflationary pre55uresand labovr marketC05t Increase5 Reduttion in phi￿nthrop1( giving- achlevement Dffundraisin8 targe15t0de1￿erStr3teS￿ImbItIOn Financial ind repuiatK>nal r￿kol ongoin8 ￿pItal projects Abllliy lorWMC to¢Èmain open and op2rate In an etDnomi¢altywableway Audience relurtanceto ieturn to large indotyr perfortnancevenues duÈtotheCoronawru5 pandem Lackof hlghlycornmercial product available post pandemlc k￿LtIm in AirNfAhlp inromo dLlO to inipart of Cofon3virus p4nd•MicandthÈtoFL4vingcr￿S Publlc Health-rlsk of a futu￿10¢k￿0￿y￿ forcin8 temporary Cknsu￿ of the Centre abilrtyto recrult and ￿taIn appropriatelygualified and experienced staff Achievementof target income leve15 Wrthin the theètre and ttrding attiyitiesof the Cornwny High gperaiioTral gearinB de5Plte changesio bu*ne5S [￿de1- high, fixed cost basewilhvariabfe iniorne Intteased competition from d4¥ital content CANOLFAN MILENIWH CYPIRU ALE5 MILLENNIUM CFNTRe 23

Wales Millennlum Centre lknmitÈd by Guar4nteel Annual reportand financial 5tstements Year ended 31 March 2023 TRUSTEES, REPORT The adequary of the compan￿$¢Urrent inrernal comrds15 re8u131ty rev￿Wed a$ part olthispr£ess. The director5 are satlsfled that there Isa stron8 intemal contr& env5r(￿Me￿t. Pu5tbal•rKe shEetevents worK on Tne proiea io reoe51gn Ine trronr Of Motsse commentro In AUgU51 dVLI. Liur new iaDaret SP3ce openeo In FeDfuary 2023 and our calé bar F￿mIl$ opened 3t the end ¢1 March 2023. Phase la Is expected to be completed bythe end of luly2023 wlth the complettin Of member's poun￿. work on phase Ibwill bewn later in 2023124ThetOtsl cost ofthi5ph45eise5tirnated lo be In the regionof £4m. In September2023. wevAII exit ￿r1eaSed011b￿ Spa￿ and staff will be relooteij into newty refurbishedoffice spacewittr￿n ourmain building. cond￿51)rt Throughout 2022123 we workedto stren8then w3fes Millennlum Centre è53na5set and resource used by arti% communitles and young peo￿e. We ale committed to thE prlociples Set out In ACW'5 cultural contract io Support a more diverse. Inclu51ve sustainable sector. We will ref￿¢1 thÈ diversity and richne550f ourcornmunSty a5we creatework t￿1 fuifilsour MI55￿￿ tD Inspire the natlon and Impress Ihe world. WE wantto be a creative horne for everyone, wewanttoftretheim3#inètions of art151s. youn8 peop￿, cijmmun1t￿sand audIen￿$b¥￿trat[￿g unlpue exoerientrson ou¢ 5ttRe5. in ouroublic 5paie5and through our Droerammes. Our orts¢r3mrne will cnntlniig inrSiidp thp vpry hp<tWp ak)n851de publicart Informed by participatorybud8etin& creatlve leamlngexpÈrlences designecland developed byyoungpeople andyowingsupport fof artS&tsand creatlve pr3CtItIDners. io. Keym*n4ement pay rtmuneratlo The Goyèrnince & Compensation tornmiltee decldethe W management pay and remunefation bo5ed cn the folPovAn8 keytsctors.. current market conditions and demands, att0rda￿lIty, current inlemal payratesand benchmaFkin$ wlth other*miL4ror8alll53tlon> wale5 Millennium Centrecontinuestobean accraI￿ed Real Lwin8Wage emplDyer. paying the ratefromApril folk)￿n￿lts8nTroUTrQThent. Followingthe announcement of a 10.1% increase in the Real LNing Wage in October 2022, a revw of the saliry Structure was conducted between January and March 2023. As a result, an avernge w Increase It l April 2023 for eligible ernployee5 of S% for permanent members of stsff wa5 awarded, with Indiwdual inC￿se5 ranglng from 0%- 13%. lnaddition. all £a5ua15 paid Real Livlr Wage sèw theirpay ￿[rease by 10.1%. W3le5 MlllenTrlum Centre ￿ld3 one off co#-of.IIY￿8 wyment to permanen¢fPAed teErn andcasual Stsff totalling£79k The 5enlor leadershlp tearn wereawarded th￿r ci)ntractual PerfortnanEe Rebtsd Payfor2021122, re￿[¥1￿8 paynientsdurin¥April3Dd May2022.ThE Perforrnance Related P3yaward for 2022123 has ien agreed and WaSpa￿ InJune2023. ii. A￿dIt￿5 The Trustee5 who held offlce at the date of 3pprov•l of thÈ Trustee5' report ionflrrn that, so far 35 they arg each aware. the￿ 55 no relevant audlt inlormation ol which thecompanvs a￿dItorS are unaware.. and each Trustee has taken 311 steps that he/ shou8htto h6vetiken asaTrullee to make himselfl heiself aware of any relevant audit Inforrnaiionand toestsbllsh that the compan¥saudrtorsareawaie of that Infom73110n. Pursu?ntto Sc¢li¢n 487 of th¢CompJniosA£t 2006, tht auditar5 wrll bE •pylntcd vt the CornponVJArtnual Mcetins. Byorderof the Boardon 21 Sepiernber2023 Peterswlnburn ChairtTraD Buie Plè Cardlll Bay CFlO￿L CANOLFAPI MILENIWII CYMRU WALE5 t4ILLEMNItsM CfNTR¢ 24

Wales MSllennSum Centre (Limited by GuaTanteel Annual report and financial statements Year ended 31 March 2023 STATEMENT OF RESPONSIBILITY OF THE TRUSTEES OF WALES MILLENNIUM CENTRE (LIMITED BY GUARANTEE) IN RESPECT OF THE TRUSTEE'S ANNUAL REPORT AND THE FINANCIAL STATEMENTS Th4 Tr￿st4•S >r• r•SpOnsrb￿ for prep3rrng the Trusl¢¢: report ofjd ¢Onuolidotcd finnnckryl Jtvtemeot> ITh è¢cordanEe v4ith applloble Unlled KI￿d￿rI1 Accounting Standard5lUnited Kin8dom General￿ Accepted AccDuntln8 PTrtti¢el. The law applicable to char1t￿5 in Englatyj and Wa￿S requlre5 the Tmstee$ 10 prepare financ￿1 51atements foreachflnan¢ialyearwhlch 8l¥e3true and falr View Of rhe state of affairsof the group and Ihech&rity and al the IncomSn8 resourtrsand èppllcation of resourcesof the grwp and ofthetharityfor th* perlod. In prtpatingthesefinancial statements, theTrvsteesare required to.. Select sultab￿ accounting poI￿leS and then apply them consi#ently_ Observe the mÈthodsand priDciple5 In theCharltiesSORP. Makejudgement5 and estimatesthat are reasonableand kyuoent. State whether applic8bk accwntyng 5taDttard5, comprising FR5 ID2. have been I￿lOwed, 5ublett to any materol departuresd15ck7sed and èxplalned In the financial ststernent5.' and Prepare the financial statements the 8oinR concern ba51s unle55 It Is Inappropriate to pre5vme th3t the group the charty will contlnue In busine5S. TheTru51eesare re5PDnsltile for keepin8propera£countin8 recordsthat disclosewilh reasonable accuracy atany tlme the financial w>5ibon of the groupènd the charlty and ￿able It 10 ensure that the financlal st3tÈrnenis comply with the Charliles Aa 2011, the Charity ¢Acc￿nIS Reportsl Aegulètion5 2W8 and the ptOV1510n5 of the trust deed. The Trustees are è150 respons1b￿ for 5afeguardln8 Lhe a5seisuf the8roup and the Cha￿tyand hencefor taking wsonable 5Tepsfor TheTru#ees are responybleforthe maintenanceand Integ<ity Df thegroupandthe charityandf￿antsal informationlncluded Dn the ch3rity'5web5ite. Lewslatbn In the united Kin8domBovÈmingthe prepardtM)n and disseminition of financial staten7ents maydiffer from ￿gIslatIOn In otherjufisdictv)ns. CAtrI•LFAt4 P4lLEP4IWM CYMHU VIALE5 MILl￿N￿lum CEWTNE 25

Wales Millennlum Centre (Limlted byGuaranteel Annu31 rÈport and financial statements Year ended 31 March 2023 INDEPENDENT AUDITORS. REPORT TO THE MEMBERS OF WALES MILLENNIUM CENTRE (LIMITED BY GUARANTEE) Oplnk)n We have aud￿ed theflnancial statementsof wa￿ MSllennivm Certre (Llmited by Guarameel Ithe'03fènt chArltAhlp rnmD3hy'S Its stsbsidiari•i Itho'sroup'l for the year ended 31 M3<¢h 2023 which comprisE the Consolldated Statement DI Flnanciil AItlViile5, CDns&id3ted Balance Sheet. Parent Charitable Company ealance Sheet. Consolidated Cash Flow Statemeni and note5 to the financiil 51atementS, including a summary of 518nrfiiant accDtsntiDg policies. The financial reportinglrameworkthitha5beenapplied intheirpfeparation isapplicable lawand UniledXingdomAtcountingStandards.includiDgFinancYdlRepDrtingStandard 102 YhÈFin3niial Reportin8 Standèrd appli￿ble in thE UKand Republicof Ireland, Iunlted Generally A£LYPted Arcpuntlng practittl. Bivea tiueandfAii viewof thestate of Ihe8roup'5and of the parent charlt3bl@¢0mpanV5afFal￿ asat31 March 2023 and of Ihe grDUPS and the parent chèritable COTnpans In¢oming resources and application of resgJrce5. inclLklln8 IIS income 3nd expendrture, IDrthe yearthen ended-. have been properfy prepared ITr a¢¢ordaDce wlth Uniied Kin8dorn GenerèllyA¢cepted Accourfin8 p￿tl￿-, and havebeen prepared In attordance wlth the requirernenisof thecoiiipdnie5Aa 2006. B8sL4foroplnkin We CDnduded our audii In 3Ctordahce with Intern81ioAal Standards on AuditinR IUKI IISAS IUKII and aupllcable law Our r9ED￿n11h1Il1l#É iinApr thnsA. starO>rdÉ 3refurtherdescribedintheAudltors'ie5ponsibilrtiesfortheaudilof IhefinaTrcial Statements secibnofourreport Weare Independentofthe8foupln accordan wlth the ethital requirements thar are releyant to our audrf¢ of the financial staietneDt5 In the UK, includingthe FRC'S Ethical 5tsndard, and we have fuwilled our otherethical responsibilitVe5 in accordancewiththese requirement5. Webelleve thai IheaUdltev￿eThCeWehaYeQbtakAedlssvffl(lenl andappropriatetDprovide a baslsforouropihion. con<1y$￿T relatinB tosoln8¢on¢ern In auditing the linantial statement5, we have conduded that the trustee5' use of the 80in£ Coll￿m ba&$ of accountlng in the preparat￿n of rhe finandèl atements Is 3ppropri8te. 8a5ed on the work we have performed, we have not Ideniifled any materlal uncertainiie5 re￿lin$t0 even15 orcondStions that. indiYKlvally rrf cdlettiyety. may cast siÈnifK3nl doubt about the $mups and the parent thaniable compan￿5 ability to continue 35 a 8dnB concern for a period of at least twve r￿nthS from when iheflnanclal staternentsare author15ed for Isstse. Our rEsponsibllitie5andtheresponsibilitlesof thÈtrustees wrth respetttogo1ngcon￿rn are ￿$(ribed In the relevant 5ectlons of thls report. Olher Info¥matkin The trustees ire respOn￿ble for the other information. Theotherinformation cornprlses rhe informatlon Included itl the Annual Report. other than the flnancial statement5 andour Reportof the Ind￿endent Auditorsthereon. OuropinK)n Onthe finanoalstatementsdDesnot ¢overtheothei lTrforrn¥iionand, excepttotheextentorherwlseexpllcltty51ated inourreport, wedo notexpTe55 any form of a55urance conclusion thereon. In wnnection wlth ovrauditoftheflnanclal st6tements, ourrespongbllilyI5tore3d theoiherinformatlonand. jndoin8sD,¢onsiderwhethertheother infDrmallon is maierolly incon515teni With the financial sraiemenis. or our knowled8É obtained In the audit or othen¥ise amear5 to be mateii?Ily mi55tsted. If we ident 5uih materi31 inc0nystenc￿S or apparent material missratemenis. we are req￿Ired to determine whether there is ? material misstatement in IhE financ￿1 atementsoi a maieijtl ffli55tatement of Iht otherinformion. If. basedon thè work we have performed. we concludethatthere Is 3 rn3terial misstatetneni of thls Other Information. Wea￿ required to report that fatt. We have nothingtoreport h thL% reEard. Oplnknns othermatters prescrIb￿ byth@Companl•É Att)IXIS In ouroplnlon, based on the work undertakÈn in ihe courseof the audrt.. the Information 8iwdn in the Group Report of the Trustee5 for the Inan¢i•l year for which the financk?15tatements ale prepared is COnSlStent%vlth the finanual statement5.' the Group Report of theTfustee5 ha5 been p￿pale￿ in accordance Vdith applkable legal requirement5. Matter40n whlth wear re4ulfed toreport ty4e¥teptlon Inthelightof the knowled8eand under51andlngof thechèrilablecornpanyand Ils envlronmerfobtsined In thecowse0ftheaudi1,weha￿fiotldent1fled mattrrdl m1551aternentS intheGroup Reportof theTru5tees. We have nothlngtc report in fe5peci of the fdlowin8 m8rter5 where theCotnpanSesAci 2006re9uiresUSto repDrttoy4u if. in our Op￿nth.. adeotsaieatcounllngrecords have ￿0t been kept wretumsadequatefor ouraudit have notbeen re￿iVed from bra￿he3 noi w51ted by us-, or the p8rent Iharltablecompanyfinancial statemwt5are not In aRreement with IheaccobntlnR retordE ￿111￿￿¢. thr certaindlsclosure5of tru5tees' remuneratlon 5peclflett byliw aTe noi rnadÈ', or we have not rec￿Ved èll theinformatlon and expl8nion5 we reqvlre for ouraudlt. CAHOLFAP4 MILENIWM CYMAU WALE5 MILLÉNtr4it41i CEMYNÉ 26

Wales Mlllennlum Centre ILimlt¢d by 6iiaranteel Annual reportaDd flD4Trclal statements Year Ended 31 Mard) 1023 INDEPENDENT AUDITORS, REPORT TO THE MEMBERS OF WALES MILLENNIUM CENTRE {LIMITED BY GUARANTEE) ICgnttrLIJ RtSPODsIWbt￿S of trknstoos Alelplai￿e￿ morefultyln the ststementofTru5te￿s.ReSpQn&lb1l1tIèI theciu¥¢eeslwho arealsothe d4iectDf5 01 theparent(haiitaWe iompanyfLY fhepurposes ofwmpany 13wI 3re respoll51￿e luf the prepèration of the finaThclal srarnenE5 Ind lorb2thE 5a1I5fiEd ihèttheygive B true ind fall View. forsuth Internal ¢ontro1351hetrUsteesdeteTm￿Blsn£¢es$atylfj enablethe yEpJrntlon offfnJnd?1 stEment5thit4retre8frum trkRIEI￿j m1sstatement, wheiberduEtfj fraud orerror. ctsnce￿ dlScbsin& asipplicalA4 mèttef5 related to golnÈ ¢D￿ern and us1n8 the b95&of accoDffltlllE thettu5ieÈ5titherintendtol￿4u1rt￿le the9d￿nI rl¥rii3ble IDmpanY¢rtOCÈbSe OPtiat1on£. orhave no￿aliSt￿o￿￿31￿e4￿I io Ourobiertlves are ID obtain ieasonable oswr4fice JboulwhelEYthefinindal sratèments a&3 wholeaiefree from materljl mi5ytstemenL wWh¢rduetofva thJtan au41t cofiducled ITr wlth ISA5 IUKI wlllalwty5 deixt a M4teri31 m15Statoment whEn iteKiSts. Mlsstatements can arlse frrffl fvaudorerror and areCDnS￿￿red m3t2rSal il. indknduJllyorln ¥grcgote.they¢ou￿re3S￿abtyOeexpettedtolfi￿e￿cÈtheec0DOrnI(deJs￿Th$Qf￿s￿rs taken ontho ￿S1￿01 the5 flnantial 5tèternents. ThEextenttOwhirhovr pr¢¢edJie54rec4pable of deteWD8 SrreEularibe5. IncluOin8 fraud Isthlawed bEIow'. Wegain￿ an uDderttsndln#vFthelegal éndregulgt0rylr4￿￿eWod¢19ptrltsb￿ to thÈ£han%yand the indusiry Invthlth n operJte5an#tyDs￿ere￿theliS￿s tsf by the thkrfty wece£oTrtrdry toap￿￿tsIe laws regulat￿rts. intlvuingfriud. We designedaudit procedures lo respond to ilR rfsK reco8niskniih)tthe k of not deitCLlilg • matp.ool m15Staremenr due to Iraud Is hi&her than the rask ol not detectlng one resultlDg from error, is ftavd inv￿Ve delibetat £ealmEnt. Th￿lèW53nd le￿￿kUan$th￿tWedttEr￿lfftEdW2re m5t5￿n￿(a￿ttO1hI coMpwywÉr8ih8eomp8nlèsAc¢Chatide5 A¢ EmphwnentAlthtsKtandtheHealth 5afetyArt. We¢btèiTred anunderthThdlngofhgwthBconipanylscomptylllgwiththoSe Iwisèndre£ulaibThsbymallD8engulrEe5tothe mènBgÈmÈntaAdcotmbOktEdthe5& enoulrlw ihioUEh(￿1r review af board minutesand rew%ew of legal and prtsfesgonal spendlortheve3r. We as5E55ed the wstepiibilliy Of th¢ chirllles flnanclal statsrn•nt5 to rnatprlèl mk4Stitement. Induding how mlaht ocrur. We ?5wsed the r15k ol mawgempttioverl￿e0rlnt￿MalIoTrt1O15￿fiJV￿%￿5s£dthe0ffeCt￿etses￿o1ITrtertid1 conrrolsthairnanagemoni ha51n plKeto dEtptt [raL￿. Includln4 test￿￿￿0[￿?￿1iaIio￿￿￿ls 3nd ev3lu3tll8the3ssvmptionsandiud8anentsMade I￿ mèn4ementln its slgnbfl￿￿t3cCO￿rntlnge5t4rna￿￿. A Turther descrtption o Dur res￿nSib￿ltlÈs lar the audlt of the Iin3naal statement5 15 IDcate¢ on the r(Rprytu￿ Cllunttll's websEte at WwW.frGor8.uk1audtorsrespon5ibii￿eS. ThisdescrlPtiohformspartolouiReportof theindepondefflt Audiior& Us• of ourx•port Th15 fepDrtIs m3dÈ SfAdytothÈ thadgable company's rnembw% t￿, kn lcrard3nc￿WIth Ch&ptfrr 4 of 160f the componl?SA¢t 2(**. Our4udlt wo has undÈrtak&Tr Sg th3tWe M￿ht$1?te $0 the ch3rltsbJe CDrnpany'5 those m3rtef&we a￿ rEoulfÉdtO 5lète tothem In all auJiiors' repurt andfor nootherpurpose.lotheTulleaexten¥prmltterfbYlaw,wEdanota￿eptOf1ss￿[rn¢re5ponslb1l1tytoJry￿Deothertha￿I￿erh3rtIJbl8C0rnpanylndtIle-h8rlIabl￿ company's meMbw5 a5a bodyyf0rouraudltw0T￿forttIIS report.orfortheoyni0DS we IiJveFormed. Nkho13SNI?1th￿WTOyC FCA ISenkTrrStatuCotyAudltorl f¢rand on behallof BPU Limlt CharterEd A(￿￿￿tantS I'fi 11,33 RadTrofHouse Greenwwd Clwe C4rdfff CF23 8AA CANQLFhN NILSt4IWM CYPIAU WAL%S MILLEP1tr41UM CENTR 27

Wale5 Millènnium Centre ILSmited by Guarantee) Annual reportand financièl statement5 Year ended 31 March 2023 CONSOLIDATED STATEMENT OF FINANCIAL AcfiviTIES (INCLUDING INCOME & EXPENDITURE ACCOUNT) FOR THE YEARENDED31 M4RCH2023 Note Llnrestrkted RÈStThthd Income In¢•rne fw Total fvr4s Unrestilctod Restrfcted lTrmm•hthW$ Incgmefunds Totsi funds 2028 102a 20ZS 2022 2022 2022 In¢vmE Irorn C￿rkable activitles Donation5 5ponsorshlp Grants recelvable 320 S30 374 157 3,675 374 IS7 7,150 773 4J61 3.475 Incon￿ from Olhertr¥dlnB actl¥fts'. C8tEring. merchand151Tr8and 3.132 9.132 2,172 2.172 Rpntal Inte￿$t & investTnent Income re(￿Vable TFatre incoKne 20D 141 36 141 36 17.637 1?.637 5,626 S.626 rotal Income 15J33 13oa 26.536 12.181 3,475 15,656 EMpenthtureonts&ln6fund$ Ch•ritable attwitieslincludes depreciation of E2.3m'.12022.. B.252 35 9.887 6,842 3,647 10.489 17,757 0,52a rix char8ella1lowan￿j for thèyear Total exp2Trtture expended 25.729 1ffi35 2?.364 13,233 4,765 17,998 Net lewÈndttwell Sncomo and net mo¥om¢hts infunds fo¥theyear lJ321 18ZBI RI¢0￿111#t￿n0f funds 43fv15 45M35 44,668 4&177 Totalfund5 carrd lorw*d 4%119 45,Lb)7 43.615 2,220 45,83S All income and expendlturewÈrederl¥ed from continuln8 activities. The company hasno re¢ogni5ed 8ainsor105sesDther than theabove resultslorthe two years.The notes¢n pages 35 to 47fom)an inte8Tr1 part of these nJncial siÈtÈments. CAtr40LFAN MILÉNIWP4 CYMHU ¥YALES MILLENNIUM CINTPE 28

Wa￿5 Millerinium Centre lknmited by Guarantee) Annual reportand financrJl statements Year ended 31 March 2023 CONSOLIDATED BALANCE SHEET ASAT31 MARCH2023 Note Group 2023 Group 2022 Flxed assets IntshBiblè aÉÉÈtÈ Taneible assets Investments ss 40,312 699 io 20 41¥1 672 Toral FlxedAssets 42.113 41,069 Currenta55ets siock Debtors Cash at bank and In hand li 12 13 6Z i.kis 9J42 S3 1,580 15,5S5 TrtalCuTttntA$5Ets IlJ19 17,188 Uabltitles Cred￿or$fallingIue Within oneyear I8￿25) Net CurreDtAsset5 2.794 Ll,766 Total wsets ￿5$CUrrent Il•b115tfjes 45W7 45,835 NetA55ets IS.￿? 45,835 Th•tundsof thecharty unrestricted funds Restrlrted funds 17 17 43.119 IA88 43,615 2,220 Tot•1 Ch•rltyFunds 45DJ7 45,835 Thesefinanoal staletnent5were approved by the Board ofTiustee50n 2ty0912023 and weres18r￿•nlls behawby.. Peter Swint>urn ¢I￿lT￿￿ DrCar¢l Bell TnJ5tet CANOLFAN MILENIWM CVMAU WALfS MILLEIIPIIVM CENTAE 29

Wales Millennium Centre (Lirnited byGuaranteel Annual report and financial ststements Yearended 31 March 2023 COMPANY BALANCE SHEET A5AT31 ￿tARCH2O15 Note Compa 2023 COM￿ty 2022 £'WD FSxedassets 41h74 674 40,121 701 Investmen 20 Total Flxed oSStts 4l148 40,922 Cuwent J55ets Debtor5 Cash at bankand in hand 1369 IA45 1.876 5,418 13 Total CvrrentAsset5 U14 7,294 Credltor5fallln8due wlthlnoneyear 14 11551 N¢tC¥rrentA55ets 959 %nR? Tot•1 •yJets leysiwreTht16abllk￿s 43,107 46.004 Credltors: fallingdue after more than onèyear 15 NetAsstts 41105 46.002 Thefund5 ofthe ch 41,217 43,782 2,22Q Re5trlcted funds 17 Totalcharfty Fwds 43.105 46.(￿2 These financlal statemEnt5 were appr￿ed bythe ofTrustees0Tr 2110912023 3ndwere slÈned on Ils beh311 by.. Peter 5winburn Trustee Re8kt&rédCoM￿tyrt¥￿berSZZI9Z4 eitsterell Chanty numberioso458 CAMOLFAtrI MILÈNIWM IYMR WIALtS MILLENNIUM IENTa 30

Wales Kqillenniurn Centre 1￿Mited byGu8ranteel Annuèl report and PinJncial Statements Year ended 31 March 2023 CONSOLIDATED CASH FLOW STATEMENT FOR fHE YEAR ENDE031 MARCH2023 Note Gr0￿P 2023 6￿P iozi Cash fiow£lrt4n op•raiiNa4rtM11•6 Net Incoinellexpendlturel forthe year 1818) Intsre5t retewab Dpie¢i8tion and amort15ation L05son di5P05al of fixed asset5 Oecrea/lincreasel in stock Decrease In debtors (Decreasellincrease in creditors IGainl/loss on rel1vat￿ft of inve5tmEnt Netwh hrfbwfroffl cPEratI￿ a<t￿ltIeS 9&JO io li 12 14 346 109 2.287 326 13.8971 Z7 3.128 2.870 ¢ashflMfrorn knwe5tlr￿ actfvitks 36 Acqu151tlon of fixed assets Oisposal of flxed a55eis Impalrment of fixed asset Divldend received Netca5h outnowfrom Sn¥estln8ath¥lls 9&10 13.6341 13.502 Decrease in cash and cash eotswalents in the year Cash and ca5hequfvalents at beglnningof the year 1.651 13,g04 IS,555 Totsi ¢ash and ￿5h &qu￿l￿nts at end ofi￿Ve•r 1S,S55 ANALVSIS OFCHANGES IN NETDEBT Al l Awl 2022 Ca5hfl OthEr At 31 Marth 1013 non cash<haTrses Cash¥￿1 usht4yiw•lents Cash 15,5S5 IS,4131 9,142 Overdrafts Cash eoUlva￿nls 15,555 9,142 0tt04Ylws Debt due wrthin oneyear Debt due afterone year Total 15..555 9,142 CANOLFAN MILÉNIWhi CYMNU WALE5 MILLEIINtUll CEMTRE 31

Wales Millènniurn Centre IUYnSted by Guar4nteel Annual report and financial Statements Year ended 31 March 2023 NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS (Forming wyrtof thefinonciolstottmentsl AuoUnt1r￿ pol￿e$ The followln8 accounti￿ pollcs have been applied conslstently In dealing with items are cMS￿ere￿ rnaterlal In relation to the Group's finandèl st?femenl% B515 of prepaMh)n Thefvnancial ttatemtnt5h3ve been prepaTed in accordaDcEwith Accountingand Reporting bychariiies.. Statement of Recornrnended PFactice3opll[ab￿Io charitie5 weparln8 their Finanoal Statements In accordance wrth the Financial Reporting Slanctard applICab￿ In Ihe UK Republic of Ireland (FR5 1021 (effective i January 20151- (Charities SORP IFRS 1021, the Financial ReportlnE Standard applicable in Ihe UK and RepuNlc of Ileland IFRS 1021 and the Compan￿5 Art 2006. Wales mir￿nn1v[n Centre meets the definition of a public benefit entity under FRS 102. A55et5 and Ivabilllies are Initlally reco8nlsed at h6torical cost or transaction valueunlessothErwse stated the relev?nt acwuntingpdlcy mte5. The Company ha5 iaken advanta8eofthEexemption contalned in FRS 102 to Dnly present a consolidated cash flow statement. fjolniconcern TheArtsCovn¢llof WaJES IACWI hasecendÉdtheexistin8fundlngarrangementuntil 31 March 2024.ThissettlementhassecufedWales Millennlum Centre nnual rpvgniip fiinding Af f 4 Km frrtth thp lthrts COW￿11 of ilon8 Wlth an Capit31 fundin6 £0 3m. Tht Outromc of FuMdin6 ￿t￿t￿fOr 2024-2027 Will be announred in September 2023. The tnatkagernent team will review the bu￿neSS pL3n followi￿ thi5 announcemeThi to en>Jre that the organiSat￿ll will contlnue tooperate soasto break even asa minimum. The Tfusep5 hive concluded that the organisation will continue to remain in operatSonal existentr for at least 12 months from rhe date the flnanclal 51aternentsa￿ signed Therefore. these financlal siatementsare prepared on a 80ingconcefll ba51s. K¢ye#im•teJand judgements Prepar3tiOn of the financial 5talernent5 requires management to rnake Si8nlficant Jud￿￿￿entS 3nd estknaies. The tsms In the finanlil statetnents where Ihese judgernenisand estimates have bpen rnbde Include-. pr¢vi5ionsforloss makln8 shows.'all prowsions havebeen rnade Information availableas atthèdateof the ￿$￿ed stsiement5. Provi510ns for bid ¢ebt5'. all provIS￿li$ have been madewhh Information availab￿ asatthedateof IhesJ8ned 5tateFnenl5. Fixed asset5'. all fixed assets are measured at Cust less accumulated deprKi3tion. No assets have been revalued. Atthedateof caitali51n8flxe a55ets, management e#imatE the CompanyestimatesthE Useful lileof the asset based upon rnana8emenYslud8ementatKlexpprlence. Theatre tax relief.- a p<ovision ha5 been made with information avaIl3￿eaS atthe datè tsfthe %tAlprnpThl< Fund atcountinl ThEvarioustypesof funds forwhich thetharity 15 responslble, and whlch require separate dL%closure, ère a5follows'. Restrfctedlund5 Tbe funds can take two forms.. Ir(orne and capital. The funds can arisE by way of dcn311ws, 81fts lof assets and servlcèsl, grants. and le8acles, and a earmarked bythedonDrfor 5peiific purposes. Such purp05e5 arewrthln the4verallaim50f Iheorgan15atlDn. Forfestricied IDcomefunds, thÈ donatinn Income deriving tFrefrom maybe utili5ed. In Ihe case of restrirted capltal lunds. onlythe iTrcome ar551￿ from the fufjd may be utlllsed forthe restricted purp05e5andthe capit31355et must be retained. D5vanat•dfun4$ Tttese?refuDd5which have been set aldeatthed5cretSDnofthEBoard n￿berSfor 5pecllc purpos.The purpose and use5 of ihedesiBnated fundsare setout later in rhese nDte5 tothe flnanclal 5t3tements. unwestAct¢0 tvnd5 TIEse are fundswhlch are expendableai theiti5CMlon ol the Tru#eesln I￿rtheran￿Of theoblerts oradminislratlon of the Charity. Credknts pmvl$ Prowsion5 are reco8nised where the Charity ha53 present obllealion resuklng frorn 3 pa# event that ￿11 probably svlt in the transfer of lundsto a third part¥ and the arnount due to settle ihe oblisation can ￿ rneasured oi estlmated ¢&lrdbly. Prow51ons a￿ normally recognised at their settlement arnoum afterallowingforany tiade dis¢ountsdue. InvÈttmeAts Inve51rnents are initially reco8Trised atthrtFans3rtion value and SubqUent￿ Meas￿red attheir tsif value as at thebalance sheetdate uslngthe closlng quoted market price. All gainsand losSesa￿taken lothe 5taternent of Finan¢ialArtiyitie5. 8•si$ tyf ¢on501idithl The Group financial statements ¢onsolide the Financial Statements of Wale5 Mlllennium Centre (Llffliied by Guarantèe) and of rts subs￿l3r1eS, Wales ill•rtnluth Cènt¢È ITr3dingl Lirnited. WK4C Produ¢tpDn- No separaie statement of linhncial activitie5 and income ahd e¥FetwJiiure account is presented for Wales Mllknnium Centre ILimi(ed ty Guaranteel as permitted bys408oltheCotnpaniesAct 2(X)6. CAMOLFAN MILENI4YH CYMRU ALE% MILLE￿￿*￿￿ CEklTNE 32

Wa￿5 Millennium Centre 1￿MIted by Guarantee) Annual report and financial ststements Year ended 31 March 2023 NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS Ic A((ountlnB polkle5 Icontinued) Intah8lbl• FlxÈdAssets Intanglblefikedassetsare #aiedatcost ￿$$attUrnu￿￿eda￿QrtISatl0n. Theannual raieof amortisation.0ncetheas5etsha￿ been brought into use, ￿$20% Tangible filed assets are stated at cost le55 accumulaie¢ depreciation. In the case of a55et5 and servke5 glfted tothÈ Charlty a valuatlon Is e5tsbllshed by rneans of an extemal profe5yonal valuation or a certlflcate of value from the dorK)r ès appropriate. Assets wlth a Wdlue of less than £l,OW wlll not capitali5ed UDle5Sthey forrn part of a larger capltal proleci. Oepreclatlon Is calculated $0 as to write-off the cost of an asset, less It5 e5tlmated resldu31 value, on a strnht-line ba515 over Ms useful economlc Ilfe ?s follows.. vatE 2K- 20% straht Ilne 5%- 20% 5tral8hi Ilne 4X- 33%5traighi line Bulldin85 Plant and machlnery Fhtures. fittlrt85. and equipment lrnpalrment Revlew The carryIn￿a￿D￿￿t5 of the Group'5 a35etsare reviewed for imoairment whEn event5 Dr chan8e5 In orcumst3nce5 Indlc3te that thÈtarryln8 amtsunt tsfth rixed a55e15 mayllol be recoveraNe. If anysuch indlcatloi ex151S, the asset's tecowerableamount 15estimated. Grants Grants ￿Ce￿able èrÈ atcounted for In15ne wlthchariiabklncome recognitbn rules. DonatiDn5 a￿dsponSorship Oonationsartd sponsorship iDcome are reco8ni5ed when theCharitybecorne5entltled 10 Iheincorne. whenthere Iscert31ntythat ft wlll berecewed. and the amountcan be fflea5ured. whe￿ comdltions of a 8rant require Spend to be incurred durlng 3 5peclflc accountlng period. and the grant ha5 been rece￿ed in advanTr.theincotne L5accountedforasdeferred Incor￿ untiltheaccouniingperiod Inwhich thecharltyisallowed, tyythe¢ondfftion ofthegrant, toexpend thefund> ThaIr•It￿Me Theatre intome Is recognised In the year to wNch it ￿th$. ficketing itKome receNed In advancels deferrEd. It is ￿èSed to thE Statement of flnanclal 3tt1vltles when the performance lakes pla¢e. CaterlnKlnco Catering 3nO other intome repre5entSthevalu¢ net of value adde¢ tax anddlscount% of 8oud5 and ser1ry￿S provlded to custome￿. Interest receabK• Interest on funds held on deposlt15 Included when receivable the amDUnt can be measured rellèbty Charity.. this 15 nOrrnal￿ notthcation or Ihe Interw pald or payable by the tsank. lttvestrnent inwme Investrneni Income Is recelvedquarteflyandrÈinvetted intothe fund. Quarterly 5tsternenlsare recdvedfrom Sayasln. InvestmntlDcomeislncluded ¥Jhen cavable and amountcan be measured reliably by theChJrlty.'thls Is Th)rmally upon notlficatlon of the income paid bythe In￿rment ful￿. Gffts In klnd Gifts in kind in¢lvde ctDDatK>Tr5 of services assets. In accordance with the Statement of Recornmentted Practice thev have been Included In income, and in the ￿lewartt ¢aieg¢ry of expenditure and fixed a55ets and have been recorded at a reasonab￿ estirnaleof thelr Value to the Charity- we do not rewgni5e anyvolunteer hours in theaccounts. Gvants of rbshts Whère rightsare 8ranted to third part￿$￿￿derw￿ich benelll5atcrue 0￿ra prescribed periud. the pr(Kee05 on the gram of those d8ht$ aretransferred to a deferredcfedit ac(ouDtand rdeased to Incorne on a stral8ht-Ilne baslsoverthe periLvJduTingwhkh those benelhtsareto be provkled. Expendlture All expendlture Is accounted tr on an actruèl's bas15. Cost5 are apportloned between exr*ndlture ¢ategorie5 in a manner which reflects the allc(ation of resour￿5 tothe5earea5. Pènslon costs Contributions are made to employÈES' pEr50nal pen54on schemes whkh are defined ¢ontributiOll 5cherres, as part of thelr remuneratlon pa¢ka8Eand are (har8ed Iniheyearin whlch they are Incurred. stock15Yalued atthe k)werof cortand net realisablÈvèluE. eANOIFAPI MILEHIWH CVMAU WALE5 MILLENPIIVM CEfiTNE 33

Wales Millennium Centre (Limited byGuarènteel AThnual report and finantial ststernents Year ended 31 March 2023 NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS ICDnti nuedl Acwuhtin8 pol￿es(ContInYeO} In¥estrnentsin sthldlarl•s Investments in subsidiaries are carried atC05t le55 impalrrnent. TaxalloTr Wales Mil￿nn1￿rn Centre (Limited by Guatsnteel 15 (Vll5idered to passthe tesis sèi out In pira8raph I Schedule 6 Flnance Act 2014 and therefore it meets the definitiw of a charrtable trust loi UK Incorne tsx pufposÈg. Accordingly. the chafity15 Potentlèlly exempt from tatstion In resPKt of incorne or capltal galfis ￿rewed within ¢ate8orie5 covered by Part 10 Income Tax Art 2007 or Section 256 of the TaXa￿On of Chargeable Galns Act 1992. to the ertenttNIt 5wh Income or83insare appliedexclvs1￿yto£harItao￿vur￿1Ses. FlThancklperformance ofthe d￿r The consol￿è1ed 5t3ietnEnt of financial aitivities includes the results ol the Chorivs wholly Dwned SUb￿dIary whlch operates thè Theètre bulness and hospiialityfacilities, alon8wilh it5 whdly own sub51dlary, WMC Productlons L1m￿èd. The 5umrnaryfinanclal performantt ol Ihecharity alone ￿.. Z023 2022 In¢ome Glft ald fromsybskliary ENwen(titureontharhable actl¥rtles 7ffi53 7,949 10 110,4891 NètlntOm￿(exPfi￿lI￿￿> (z￿75 12.5401 Total funds br•4hlforwavd 4WJZ 48,542 Totalth￿I5￿r￿ed+0r￿ard 43.105 46,fy)2 Iniere$t &ln¥estment In¢ome rt(trAble Tht 8rOup'5 interest and Inve5trnent ar15es frLYn money hdd in interE5t bE•rinB dEpo5it & Insknt acce55 ac￿Unts and from a m&lvm-tem Investment heldwith Sar351n.The net lossof £24k12022..E36k income) Includesanunreallsed revaluationlossof IheSara%n Investment of £45kl2022.' £14k unrealised revaluttion gainl. Anaty515 ofey•2ndltureon ctsrtsbl¢*rtfvltie$ 1023 Q1h￿rtS and stage Educatkinknh5 Ahd 'wo £'fyJo ArtSst< andexhibitlon fees Produtlion Èxpenses 416 640 19 39 291 176 24 1,8J8 435 679 962 403 Boxofflceandlront of house Promotion and ma￿etIng Central premlsescosts eankchar8e5 DèprÈci3tion Go¥ernancEcosts (Note 51 SupportCOSts INore $1 24 li 1,628 35 3.760 279 2.2S7 2,257 1,557 6.183 1.557 9,887 2,719 303 eANOLFAN HILENIWM CYMAU WALES MILLEIIIIIUM CE14TWE 34

Wales Millenniurn Centre ILSmitsd by Guaranteel Annual ￿pOrtand financial statÈment5 Year ended 31 March 2023 NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS Icontlnuedj AMtyslsrrfeKPE4xliture onthafltab1eatti￿0es Icofjfrnuedl 2022 Concerts and 5ta8e Visltin88rt5 txhlljitionsand Ethcaiion Indurti re$Wehre5 Ge￿ra1 centr• iozz Total PrFonnxnc• Artist￿ and Eihibirw)n fEe5 Prodwtion expenses Education and oUt￿a¢h Box ofticeèTrd frontof house Promotion and marketln8 Central premistscost5 8ankcharge5 O¢prcrlatiOn Governance cost5 INotÈ51 S￿PpOrt co#slNoie 51 Total 83 1,708 88 1.713 1,243 136 81 3,641 75 275 19 65 1,576 13 1.761 34 Z70 2.188 2,188 1.398 6.376 1,398 10.489 3.456 112 545 An¥ty5i5of￿Wern4nce and StrFPOrt wsts Bovernaftce coms, ttte remalnlng support costs tOEetherwith the governance cost5 are appDrtioned tstween thethree keycharStab1eact￿1lIeS undertaken in the year. Refer to thÈtablÈ bÈlttwforthe ba515101 apportlonmèntandthe analys￿01 supportand8Dvern?nre costs. iOZ3 Total Bxlsof4pportbnmtht Support Functlon caierittgano venue hire for tru5ree and othei busine55 meetlngs Salarle5, Wd8e5and ￿lated costs Invoiie 815 815 Alloc*ed on time Generaloffi¢e Audlt fees- Extein31 audit Non audltfeès 671 671 Invoiced Invoitrd InvoKed In￿j(e￿ 25 41 1.557 41 Totsl 1.557 Employee n￿Mber$A￿1Cosls 2023 2022 ÉMpknÈwJt5duilngthe yearaccount4d to wagesènd 5alarles Pension contributions iodefined tontributiOD 5therne5 Soclal securltycosts 4.70Z 437 3,554 228 318 259 5J98 4.ILYJ 2013 Ntsmber 2022 Nurnber A¥erAV numberol penon5 empkndllndudiTrY6&•suaI514￿re. Stsge. technjcal. front of house, c3terin8 and venue operaiioll5 Man3AèmÈnt ahd admln15tratk>n 2(h) 252 207 ¢ANOLfAtr4 HILENIWM CYMRU WALIJ MILLEtrIP4lU14<ENTAE 35

Wales Mlllennium Centre ltsmited by Guarantee) Annual report and Pinar(ial statements Year ended 31 March 2Q23 NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS Icon tinuedl Empwtrnthbers ar￿ ￿515 Icontlnuedl Durln6ihe year, thecompany'swa8èsand salirie5 WSt5 aL￿Ve Include remu￿ration paid totheTru5tees3mountln8to£nil12022.. Enill. No travelexpenses were r￿rn￿rSed toTrusieesdvrirt8theyear12022'. £nlll. ThÈ rtuthberolernp14>yee5whose emolumcotsa: detitttdlDrtoxatian purpoJ¢J prn¢unte6tOOver£GDk4n the follows. 2023 Numbei 2022 Number £fA),OW. £70, £70,001. EW.( £￿,0￿.£90,1 Ego,001- £i(x),r EloD.(￿l- £iiO,QL¥) £I10.￿l- £120,(XN) E120,001- £130,C É130.001- £IEA),I £160,(K)I- E170,(klO £I70,￿l-£18O,(X)o £180,(X)1- £190.Cts) 2023 2022 Penyon510lltributlOll510 dellned contrlbulh)n schemes inrespett of the5efour ernoloyees12022." fiveemDIDvee51 Is Key rnanasement personnel who res￿n￿bility for plannin& dlrectln8 ènd controllln8 the ¥rti￿1￿$ of the crf8aniSlon are detailed In the Trustee5 rew>rt on Page3 ITrusteesl and ￿rate￿O￿ PaBe 3 IMana8ln8 Oirertorand other seniorstam.The total arnount pald tothè5e fourernployeeswas £492k 12022.. fi¥eem￿Ovees-Es4skj. Net expEndrture lorihe year 2023 £oo 2022 £'ooo r4ettxpÈnditure i55tated afterchaiqthgthe followlng Audito¢:fttf#r PDrcntiompany and 6rovp fin?nc5•1 >tgtement> Auditorfsfee for 5ub5idiary companles Payroll proceS￿ngfeeS Payments made undEf DPEratiTr8 lea5e5 Depretyltion andamortisalion (Noies 9 & 101 T<usieesènd officerf5 indemNIty 1Tr5urance 15 io io io 170 io 171 Z,346 2,287 15 12 Taxion wa￿5 MillenNum Centre ILlmhtcd by Guapnteel is considered to P855 thetesu set out In Paragraph I Sthedule 6 FlnanceAci 2014 and therelore it meets the definition of a charrtable trust for UK income tax purposes. Accordin8ly. thecharlty Is pDteniiallyeAempt from ta￿tIOn in respect Df Income or capital 8aiD5 received within categortes covered by Part io In¢Dme Tax Act 2007 or Section 256 01 the Taxatlon of Ch3rge3ble Gèlns Act 1992. to the extent that such IncDMe¢xgalnsa￿app1Iedext1￿r¥￿yto CharItab￿pUrr￿￿S. CANOLFAN MILENIWM CYMRU WALE5 MILLENP•IUM CENTRE 36

W3les Millennium Centre (Limited by Gvaranteel Annual report and financial statements Year ended 31 March 2023 NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS ICDntlnue&J Intsii8lbleAsset5 Gmup Group Addltk)nsduring Ihe year Costat31March2023 Amorttsatbn and Impèlrnioni At l Aprll 2021 Charge forthe year 231 Amort&atkJn at 31 M•r¢h 1013 NetBookV•lueo131 Marth 2021 Net Bookvalue ai 31 March 2Q22 58 Intsn8lble assets repreSentt￿ valueof fvnd5inve5ted Sn iheiedevebpmEnt Df theWMCWeb5tte. whlch w35 launched in Au8U5r201& 10. Tawlble a5set5 GrLWP PLim and hlo¢hlnery Asset vndAr rfjlwurthin Total asehol land and bulldln85 ffttlnls and e9￿1pment Co$t 57.755 43.060 35 4,744 1,022 1,7781 292 2,577 1(6.851 3.634 16.068 Addltions in thtyear DL%posais in rhe year Yearended 31 March 2023 S7,738 38.822 3,988 2,869 103.417 Aleumy￿ttd￿EPrec￿I￿0n Ai i Apnl 2V2 arge fDrthe year Disposalsduringthe year 20,193 I,￿9 41,584 3,761 65.539 2.288 5,9511 4,182 YeèrendEd 31 March 2022 21,335 38,182 2.359 61.876 Nut bookvalue 91 M3rth 20Za 1.629 2A69 41.541 31 March 2022 37.562 1,476 982 292 40.312 CANOIFAN NILENIWM CYMttU WALE5 MILLENNlui4 CÉIITNE 37

W31es Millennium Centre IUmSted byGuaranteel Annual report and financial ststernents Year ended 31 March 2023 NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS IContinuÈdJ lth Taniibk Assetsftontinwedl Compary long •Seh￿d d•nd buWln8s Plant and m¥chlnpry FLMtures. fft1th8s a￿d uIprnEnL Asst5 under coJistruci•n Totsi Cosi At l Awl 2022 57,755 42,538 4.516 292 105,101 Addili¢n5 in year D&wsa15 inyear 35 1.012 2.577 3,624 15,675 Yearended 31 Marth 2023 57,738 38.693 3.750 2,869 103,OY) uffjvLited deprecktlr At l April 2022 Char8e IDr theyèar Disp)5alsdurin8 theyear 20,19J 1,159 41,13Y 749 13,7901 3J)O 348 04.880 2,256 155601 Year ended 31 March 2023 21.335 38,(￿6 2.145 61,576 36MOJ 597 IA69 4L474 31 March 2022 37,562 l.dDI 966 292 40,221 SvbMantlaI￿ all t3nglblÈflxets3ssets are used fordlrettcharitatle pu￿￿5. The rernairthrare US￿ foradmlnistration an&fu[￿raisin% Durooses. At 31 March 2023 there were Tro as5et5 held underflnance ￿aSeS12022'. £nlll. Thesefi8ure5 representarn￿nts in both the Company andfjroup. 11. Stock Group Group 2022 t￿nPary 2013 Cornpanv 2022 GorA#5 [OrRe￿Ie 53 53 11 trelknrs Group 2023 rcfjo Group 2022 £'o Compamt 20Z3 Companv 2022 Tradèdébtor% OthÈrdebtors Prepayments VAT re￿1¥able ThwdtreTax ReliEf Arnwnt¢wÈd by 5ub%diaryundertaking 27 114 179 223 137 97 93 417 341 164 360 919 Z.115 l.S80 1.4É AMOLF4N HILENIWP4 CYMRU VIALE5 MILLENM1v￿ CENTRe 38

Wales Millennium Centre Iumlted by Guaranteel Annual report and financial statement5 Year ended 31 March 2023 NOTESTO THE CONSOLIDATED FINANCIAL STATEMENTS (Co tinvÈd) 13. Ca5hat b￿￿kand In hand Cash held b¥t￿GrOUp atthe balance Sheet date Includesbankaccounls relatiTrgtotKketln8 In¢ome¢eceived in advanceof £5.3m12022'. f8.7rn1. 14. Cred¢tor5-fallnxduewlthln On￿r Group 2023 Group 2022 Company 2022 202$ Soclal security and other laxe5 r￿de(reditorS Accruals Income In vartce Othercredilors 86 2W 2.112 8,6S2 1.272 67 226 172 1.849 5,337 1.071 116 L592 76 8￿2$ 12.422 1.8SS 2,212 Income In v3nce rel8tÈsto ticketing Income. OthercreditNsinclude5deferred grant income relatingto 2021124 of£nll12022'. E176kl. 15. credhors-fall1￿due311errnoretbln0Ne￿l Gro41 1023 Grovp 2022 £'o Comparty 2023 Company 2022 Urrpaid sharetasxtal Totsi 16. Cawtal The Company Is Ilmiied by guarantee and th2refore h3snoshare ¢apital.Theextentof the8uaBntee is£1 per member. The Ma￿muM number of memberspermitted 1$ 15. 17. Fund5 VnFeMrt(ted IL￿5 Gr0￿P Ih¢tykne Expendlture Transfer 2022 Spe Des ted funds C3pital Maintenance Capital Development CreativeArnbitK)n 756 172 $70 2.069 IL8881 1.355 576 200 Totsideslgn3tÈd funds General unre51rKted fund5 -4.025 40,590 172 25,061 1.395 11,3951 1,354 41,765 3,238 Total furK15 43,615 .233 125,7291 43.119 CANOLFAN MILENIWM CYMHU WALES MILLCr4NIuM CENTRE 39

Wale5 Mlllennlum Centre ltimited by Gvlranteel Annual report and financial statement5 YÈar ended 31 March 2023 NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS (Contr nvedl 18. Icontinuedj Comp•ny In¢ome Expendttwe Capttal Spen Tra￿lef zDzz 1013 nated fund Capltal Maintenan C¥pii81 DEvelDprnent Cre3tlveAmbiti 756 172 578 2,(kn9 20D 12,8881 1,39S S76 2W Total deslgnatgd funds General unrestrlctedfunds 3.025 40,757 172 1,395 liJ951 1.354 39.863 6,177 18,9141 3.238 Total funds 43,782 6.349 41,217 Unrestricted fundsareexpendable atthediscretion of the Trustees lortheCharity'spurwse5. Des*natedfvnds Capsial M31ntenance-a capltal malntenance fundin8 requlrernent has been ￿EntIf￿a throu8htheCapital SO plan, estlm3tedathaWa mdlion poundsper annvm,to maintsin the buI￿r￿g. plant and equiwnent toa hieh standard. Thi5 designated fund representsfunds set a$￿e lo meet thI5 requlrement. Capital development reservE-Ihis has been set upto supportthe wst of new tapital project Creatlvearn￿t￿rt ￿¢￿e-thiSbas bEen esta￿1Shedto enhanceihecreativeambition overthe nextthreeyears. R£sErktedfunds Group m0￿ment Infunds ENpendiiure IrfornE Tr•nsft 1022 2023 Cathtsl Maintenante Capital Developrnent CreatlyeAmbitlon Festival of VOI Merthyr Core Resirirted Funds 1,386 1,372 5( 500 30 230 243 774 16 Totslfunds 2.220 1,303 1,888 ML4¥emeM In Ekyendlture lTrrL¥ne Transfe 2022 zozj C3pVcal M3lntenaTrce Caprtal Development Creatwe Atnkntion 1,386 1.372 5(X) Festival of Merthyr 230 243 774 16 Totsi fvnd5 2,220 1,303 ¢AMOLFAN MILENIWM CYMRU VIALE5 MILLEIIPIIUH CENfRE 40

Wale5 Millenniurn Centre lknmited by Guarantee) Annual report and firFancial statement5 Year ended 31 March 2023 NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS IConbFwedl 18. F¥thds Icontlnuedj C4Pit•l M¥intenance DuriTrgtbe year, the Centre received ￿$tricted Èrant inwmefrom The Art%Cllwllofw•le5 relatln8to ca￿tal malnienènceofthecemre underthe C•pi%?1 SO pL)h. FIKed 4SScts rclotin6tothi3cxp¢Ndure hpwe been >yl>. Core restrKted funds re￿te totheArtsCouncil of walesCu￿ural Recovery Fund Grant AnJW ofnet aSSetSbet￿Èrt Group Unr¢&trithed Fwds Restrlcted Funds Totalforthe ye&rehded 31 Mow¢h 2023 Tot¥lforthè ye•rended 31 March zo Intaneible & Tan8ible fixed assets Investment Netcvrrent a￿t5 40,169 672 2.278 1,372 41,541 672 2,794 40.370 699 4.766 516 43.119 1,888 45,LV7 45,835 Comp•nv UnTrstiitted F¥nds Re5tilctod Funds TDtslfor the year e￿ed 31 March Totsiior the ¥eareThded 31 Ma￿h 1022 Tan8ibleflxed assets Invesirnent Net currenta55ets CredltorsfalllnB dueafter more than i year 40.102 674 443 1,372 41,474 674 40.221 516 959 5,(B2 41,217 43.105 46,Q02 Totalincomeiornprises£25.2m12032.'E12.2mlf¢runre5trictedfvnd53nd£l.3m12022..£3.5mlforre5trlcted lund5.Adetailed analysisoflncomlng resources Total expenditure ¢omprises£25.7rn12023'. E112Mlf￿ unrestrittEd fvDd5 and £1.6m12022'. £4.8n>lfotrÈstricted funds. A detaI￿d analysls ofexpenthture i$8iven in thestatement of FinanclalAttlvitie$8nd note5. In acc(dan￿ withtheChèritlB5SORP1015. caprtal Brantsa￿ ￿¢￿t￿lSEd in full in the sratementolfinancial artwrtie5 Intheye4rlnwh5th they arerec*¥ed, 5ubjectto performance criteria. Capital 8rint5 are recognised inthe year they arefEcel4Yd. The summary iTrcome and eXpendItu￿ atcouni illu51rated above 15 derlved from the staiemenl of financlal acthdtles on pase 41 vknKh, to£ether wlth the notes of rhe financial Maiements provldes ftsll InformaiionoTrthe movementsdurln8 theyw onallthefund5 oliheGroup. 18. P4rtskin tontthutlDrt¢ TheWale5MlllenniumCentremakescthtributKTrnsonb2half Df employeesto ind1yldualdeflnedcontrl￿tlonSchemeS.Yhe3MDu￿tChar9edtothe5tatemeThI of flnanclal artivities durln8theyearended 31 March 2023 wasf437kl2022..É232kl. CANOLFAN MILENIWM CVMRU VIALÉS MILLENNIUM CENTRf 41

Wales MSllennlum Centre (Limited by Guaranteel Annual report and financial 5taternents Yearended 31 March 2023 NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS (Contlnuedl 19. Optt•tlnK ￿•St$ Total cornmitments under Th>n-cancÈifable operatlng lea5esarea5foNows'. 1023 2012 Within one year In the sewnd tolffth year5 inclusive 171 20. Inve5tfflents Group 2023 Compaty 2023 Valueat IApril 2022 Addrtion5 699 19 701 18 DispoFA15 Revaluatlonsdurlngthe year Vilue at 31 M3rch 2023 45 672 674 Durlngthevear we reviewedour investment pollcy andagreedthatunrestritted and restrlttedfunds shO￿ld bè prèdaminantty hekf In minlmum rtskd@poslt accounts. Currertt investments are held a 5-year Investment fund with 5arasth & Partners ILP. This fund has a risk level bet¥¥een 4 and 7. Quarter inve5trnenl fepDrt5are recelved. 21. Caphlcommltmen¢$ Gvoup & Complry 2023 Group & Companv 2022 £'o(x) CapltapexpendltJ￿(OntTaCfed not provided for iheflnanclal siitements Capital e¥petbditure3uthorised bythe board but not contratted 925 3.075 910 Iwo These c4pltal Commiimentsrdatetothe Frontof House redeslgn projert 21 subsid￿7ryC0mpanl￿S Thè Charity ha5 two whdlyowned subsldl3ry ¢tynpanles. Wa￿5 Millennium Centre ITiading) ￿mited and Wales Millennlum Cenire ITFEatrel ￿[nIted and 15 WalesMll*nnluM Centre (Tr4dl￿gI Umrted Ireslstei4dNmb4¢3n68%1 Wales Millennium Centre ITradln81 Limited coMMen￿d ttading In November 2M7 and carries out tFadingadivity on behawof the charity. ticket sa and marketIng¥¢t￿v1ty. previously undertaknng bythe Charity wasttsn5ferredtoWales Mlllennium cent￿ ITradiTrgl Limited a5 Partof a transfer of aCti￿tieS on i Ottober2014.TheiradIn8com￿ny has consolidated In these group Financial Statetnent5. A summary of It5 tradlng results is shown below.. 2023 2022 E'(x)o Twnover t05tof Sales 19tha6 114.8931 Gross Profit ?147 AdMIn￿tra￿Ve Expendlture 12ffj731 IL.9631 (Lossllprofit before (haritabled￿allon Charltable donatI￿t¢ pa￿￿tOrganiZat￿n 2￿?0 194 194 ¢A140LFAPI MILENIWM CYMRU VIALE5 MILLENWIVM CEMTNE 42

Wales Millennium Cèntre ltimited by Guarantee) Annual report and financlal statements Year ended 31 March 2023 NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS I Cononucdl ZZ. Subs￿{ary¢Om?•￿I￿S Icontlnued) Wale5Mllknnltn Cethtrel7rJdlng] Ilmknd l¢ontinuedl 2028 £'No 2022 Intin8iblÈ& Tangib￿ fixed Assets Net ¢urreNt Ilabllftles 150 1033 Ntt assets 11691 CillÈd upshareap￿a1and rÈtalnerfearnlDIS 11691 WMC Prod¥(bons Llmfted Ire8lsteW number.. 096960061 WMC Productions Limited 15awhOl￿ Lwined Subsidiaryof Wales MillenniumCenlre(Tradlngl Llmlted. Ithasbeenconsolldated InthèsèÈrtsupFin4nclal Statement5. WMC Pr¢dudioD5 Limiied is commiSSion£d èy the Charlty to create w(￿U(tIOnS. Due to the Ctyonavlru5pandemlc, no new produrtlOn5 were commissioned in 2020121. A summary ol its result5 15 shown below-. 2VZ2 Tumovèr C051 of klE5 621 IL3011 Gros5 Loss 12801 AcltninistraliveExpendfu Los5eeforeTaXat￿n 12801 Tax on1055 137 Resultforthefmanclal year 20Z3 £'o 2022 Int3ngIb￿ & TOn￿ble fixed Assets Net CurrÈnt8$5et5 Net•ssets Called upshareopknl WaksMllleThnlumCohtre matrel Llmknd IréilstérÈd ￿rn￿oI.. D37492461 Wales Mlllennlum Cent* (Theatre) Llmited was dorrnantthroughoutthe Y￿r. CANOLFAl4 NIILENIWM CYMHU WALES MILLENtr41UM tÈriTRE 43