2021-12-31-accounts

UCF DIRECTORS’ REPORT TO THE TRUSTEES

PROJECT HIGHLIGHTS

FOR 2021

About UCF

Uganda Conservation Foundation (UCF) is a UK charity (Reg. No. 1087295) and Uganda non-profit which aims to safeguard Uganda’s natural heritage by implementing practical conservation and community interventions, influencing policy-makers and engaging the public. We currently have projects in Queen Elizabeth (QEPA), Murchison Falls (MFPA), Kibale Forest and Kidepo Valley National Parks.

We work closely with Uganda Wildlife Authority (UWA), their partners and local communities to achieve our goals in the protection of Uganda's wildlife, the development of park-adjacent communities, and the enforcement of the criminal justice system in tackling wildlife crime.

UCF is primarily funded by grants and donations from UK and US donors, and unrestricted funding from local and international fundraising campaigns.

UCF’s Ugandan entity, UCU, employs a small team of sixteen employees and is governed by a Board of Directors (Ugandan-based) and Board of Trustees (UK-based.) UCF celebrated its 20[th] anniversary in September 2021.

Registered UK Charity No: 1087295 | www.ugandacf.org Low Mains Farm, Masham, North Yorkshire, HG4 4PS, United Kingdom | Tel: [phone] Facebook: Uganda Conservation Foundation | Twitter: @UgandaCF

UCF runs seven projects:

1. Recovery of Murchison Falls Protected Area Programme (MFPA)

2. Recovery of Queen Elizabeth Protected Area Programme (QEPA)

3. Carnivore & Scavenger Programme

4. UWA Capacity Development Programme

5. Technology in Conservation

6. Kidepo Valley National Park Conservation Development Programme

7. Community Led Conservancy Development & Management – Kidepo / Karamoja

1. THE RECOVERY OF MURCHISON FALLS NATIONAL PARK

The support to the UWA to restore and recover Murchison Falls National Park has increased in 2021, with UCF providing both capital and operational support, which have served to increase UWA’s capacity and reach across the park. In relation to capital support, UCF facilitated the construction of the following buildings;

• Construction of Atil Camp Ranger Post, Chobe Sector - 8 man ranger post with 20,000 litre water catchment, and ablution block.

• Construction of Buligi Marine Ranger Post, Delta Sector - 6 man ranger post with 10,000 litre water catchment and ablution block.

• Completion of the Law Enforcement & Operations Centre: Solar power & stores centre.

UCF also provided the following vehicles and equipment to support the UWA in their day to day operations;

• Donation of a new Land Cruiser single cabin to MFPA, modified for field conditions, to support law enforcement operations in the park. Funding for this vehicle was received from Global Conservation and International Elephant Foundation. The vehicle, also doubling as a Quick Reaction Force vehicle, has been extremely busy supporting anti-poaching operations across the whole park. It is dedicated to supporting all stages across the prosecution lifecycle. From coordinating ambushes, delivering apprehended suspects to the law enforcement centre for further processing, and ultimately to delivering these suspects to court for convictions. It ensures the integrity of all prosecution and law enforcement activities. This part of UWA’s law enforcement is now much more professional as a result.

Registered UK Charity No: 1087295 | www.ugandacf.org Low Mains Farm, Masham, North Yorkshire, HG4 4PS, United Kingdom | Tel: [phone] Facebook: Uganda Conservation Foundation | Twitter: @UgandaCF

• Donation of motorbikes to community conservation ranger posts along the northern boundary of MFPA for human – elephant conflict.

• Established hotline and mobile phone system coordinating phones across the park.

• Continued development and roll out of EarthRanger software, which plots and tracks collared animals across the park and is UWA’s choice of specialist software to manage and monitor the park.

• Desktop computers provided for the Intelligence and Operations room

• Upgrade of software for existing laptops in the Operations & Wardens office

• Construction of jetty and quays in Paraa

• Fibre connectivity installed between the Law Enforcement & Operations Centre, HQ Administration and Veterinary Centre

• Establishment of Sengenge, Pakuba, Punu Rii, Ayago 3 and JOCC towers, equipment housing unit, solar power and fencing.

• Provision of 100 phones for park management

• Provision of equipment, including rucksacks from Marauder Tactical Ltd

In addition to buildings, equipment and technological support, UCF has provided the following operational support to the Law enforcement operations in the park during 2021;

• Refitted fibreglass onto one patrol boat and one UWA tourism boat

• Distributed monthly ranger food through COVID to every ranger post

• Provision of fuel for frontline vehicles

• Provision of COVID sanitizer and health PPE equipment to MFPA

• Provision of internet, phone network (closed user group) and hotline across the protected area.

• Installation of CORTEX / Semantic AI intelligence software

• Provision of new tyres for the Veterinary Response Unit vehicle, and vet drugs.

• Provided ongoing support to trained UCF and UWA staff on the use of EarthRanger, Radios, Phones

• Repair of Semanya Ranger Post – from bat damage.

Wildlife Ranger Challenge 2021

UCF coordinated the third Wildlife Ranger Challenge in MFPA, in September 2021. The WRC is an international fundraising campaign spearheaded by Tusk Trust to raise funds for frontline rangers during the COVID pandemic, following the collapse of tourism.

UCF coordinated all the fundraising and marketing on behalf of MFPA, QEPA, KVPA, Ziwa Rhino Sanctuary and various fun teams. The funds raised by this campaign helped

Registered UK Charity No: 1087295 | www.ugandacf.org Low Mains Farm, Masham, North Yorkshire, HG4 4PS, United Kingdom | Tel: [phone] Facebook: Uganda Conservation Foundation | Twitter: @UgandaCF

UCF continue to support UWA operations throughout the COVID period, as well keeping the community scouts programme running.

The event was attended by UWA Rangers, UCF staff, Directors and Trustees, British High Commission representatives, and celebrities, with kind support from Paraa Lodge. The event was won by Queen Elizabeth National Park.

Community Development:

Pacer Tree Nursery Project

Initially established in 2019, with funding from Dulverton Trust through David Shepherd Wildlife Foundation, the tree nursery programme at Pacer Community College, continues to grow tremendously. With only four full-time employees, the nursery has expanded to be able to provide more than 100,000 tree seedlings per season (there are two planting seasons in a year). Many local community members have benefited from tree planting and maintenance training ensuring that tree survival is high. During the year, UCF established a partnership with the Trees That Feed Foundation to support elements of the planting programme.

By year end, over sixty youth from both Pakwach and Nwoya, and at least fifty community groups have received training on agroforestry and tree management. All the tree seedlings are provided for free to the interested community members and youth groups.

The nursery has uplifted the status of the community college and is now a demonstration site for agroforestry, proving to many that trees can grow well in the region.

Youth Development Programme

UCF continued with the David Shepherd Wildlife Foundation and Dulverton Trust programme to support 100 youth in local households either impacted by elephant crop raiding or known to be supporting poaching. The programme has put youth through vocational courses, apprenticeships and has many of the 100 in full time employment.

During the pandemic the employment they had kept many very vulnerable community families safe and away from illegal activities. The flooding of the River Nile over farmlands, and the impacts of COVID caused considerable livelihood, health and social strains.

During this time twenty youth continued to undertake daily snare removal across the Delta Sector removing over 20,000 snares. Construction teams supported works within

Registered UK Charity No: 1087295 | www.ugandacf.org Low Mains Farm, Masham, North Yorkshire, HG4 4PS, United Kingdom | Tel: [phone] Facebook: Uganda Conservation Foundation | Twitter: @UgandaCF

the park, Entebbe and in Jinja. In addition, fencing teams helped with the radio tower fences, and a further group supported the repair of a bridge in southern MFPA and the creation of a 15km road to Sengenge Ranger Post and radio tower.

Living with Wildlife project

Formally titled, Wildlife protection and sustainable livelihoods for communities neighbouring Murchison Falls Protected Area, Northern Uganda, this three-year project aims to improve food security, increase livelihood opportunities and improve the relationship between UWA park management and the communities surrounding the park, in order to reduce illegal wildlife activity in the NW corner of Murchison Falls National Park. UCF co-implements this project with Send a Cow Uganda (now Ripple Effect) and is overseen by Tusk Trust and Ripple Effect UK.

Through the course of the year, UCF managed to implement PACE (Pan African Conservation Education) to over 4,000 individuals (both community groups and school-going children in both Nwoya and Pakwach district).

The park / community outreach work included bringing over 150 community members into the park. Some were community elders and leaders, others teachers and students. These visits have proved most beneficial to building relationships, friendships, understanding and trust.

The work has opened lines of dialogue between park management and communities which were previously non-existent, or at best not well managed. Because of this the instances of positive interactions between both primary stakeholders (park and communities) have increased and UWA’s efforts at community engagement are being recognised by both community groups and local leadership and the sub-county and district level.

In quarter three, the LWW programme also provided an additional vocational course for 20 youth from both Nwoya and Pakwach Districts, on top of also establishing a demonstration site at Pacer College. All students benefit from nursery training at the college, with free trees provided to plant at their homes.

2. THE RECOVERY OF QUEEN ELIZABETH PROTECTED AREA

CITES MIKES Phase Two

Registered UK Charity No: 1087295 | www.ugandacf.org Low Mains Farm, Masham, North Yorkshire, HG4 4PS, United Kingdom | Tel: [phone] Facebook: Uganda Conservation Foundation | Twitter: @UgandaCF

UCF received funding from CITES MIKES via the European Union to support Phase 2 of the Recovery of Queen Elizabeth National Park programme.

This four-year project, beginning in 2020, aims to support UWA to develop their human and equipment capacity to strengthen law enforcement capacity and cross-border collaboration in combating wildlife crime. The programme also supports transboundary cooperation between Virunga National Park and QENP, which are MIKE focal sites. Major achievements in the programme in 2021 include;

• Construction of the Joint Operations Command Centre at Katunguru in July 2021 (completed in Q1 2022). The facility was partly funded by the African Elephant Fund, also EU funded. The facility, identical to the MFPA JOCC, will coordinate all the park’s essential communications, information flow and operations including law enforcement and community conservation.

The facility provides security measures that limit access by non-law enforcement staff, which has been a major security risk, as the old law enforcement office at the park Headquarter administration block, is shared by other departments and passersby.

• Roll out of EarthRanger and other specialist technologies, which helps UWA to monitor and manage the park and combat the rising challenges of illegal wildlife trade and crime.

• Modification and delivery of two new Land Cruisers to UWA to be Quick Reaction Force vehicles; one based at HQ Katunguru, the other in southern QEPA.

• Provision of patrol boat and engine.

• Employment of Wildlife Crime Intelligence Support Officer (Ruth Apusan), who will form part of the QEPA operations team and will be responsible for building the intelligence handling capability of the QEPA Control Room. She has previous experience handling intelligence and crime scene investigation. She has previously trained with Dr. Andrew Lemieux under the WILDLEO programme.

• Construction of the four-man Kalinzu Ranger Post in December 2021. This ranger post secures the Kalinzu digital radio tower and supports both UWA and National Forestry Authority (NFA) operations in the area. Prior to its construction, neither UWA nor NFA had a permanent presence in the Kalinzu area. With this ranger post, they can now carry out joint operations to prevent illegal wildlife activity, illegal logging in the forest and encroachment.

Registered UK Charity No: 1087295 | www.ugandacf.org Low Mains Farm, Masham, North Yorkshire, HG4 4PS, United Kingdom | Tel: [phone] Facebook: Uganda Conservation Foundation | Twitter: @UgandaCF

• Provision of patrol and overnighting equipment worth USD 20,000 to 50 QEPA rangers on the frontline of conservation in QEPA. This included tents, rucksacks, gumboots, ponchos, water canteens and sanitizer / PPE equipment.

Ranger Support

Thanks to the Ranger Fund and Project Ranger, UCF was able to plug the operational funding gap caused by COVID and the lack of tourism revenues, on which UWA relies for nearly all funds.

• Provision of monthly patrol rations, field equipment and gear, fuel for patrols, all helping UWA continue its law enforcement operations which had become unsustainable in the wake of COVID19.

• Provision of 100 phones and a pre-paid closed user group integrated into EarthRanger Operations Room.

With finances steadily shrinking, UWA was forced to refocus law enforcement support to the main tourism areas and thereby neglecting the harder to reach areas: leaving them vulnerable to illegal wildlife activity. During the course of the year, UCF provided much needed emergency support to the parks, thus weathering the storm of COVID19 until such a time when tourism could be counted on to replenish much needed support for operational budgets.

• Repaired and refitted fibreglass to two patrol boats, and overhauled a frontline Land Cruiser.

• Kasenyi Marine Ranger Station: Initial construction of a marine ranger station in Kasenyi, providing UWA capacity to protect and conserve biodiversity, landscapes and communities along the Kazinga Channel towards Lake George.

• Repair of the Lions Bay Ranger Post roofing from bat damage

3. CARNIVORE AND SCAVENGER PROGRAMME

Conservation of lions and vultures has become an important next step for UCF and UWA across all of the core savannah parks. The lack of tangible conservation management of lions over the previous decades has driven numbers to be vulnerable. The UWA / UCF strategy plan entered its third year, and was of course impacted by COVID. However, all deliverables were completed.

Registered UK Charity No: 1087295 | www.ugandacf.org Low Mains Farm, Masham, North Yorkshire, HG4 4PS, United Kingdom | Tel: [phone] Facebook: Uganda Conservation Foundation | Twitter: @UgandaCF

Lion & Prey Protection

Core to the strategy plan has been protecting prey and lions across the whole of the protected areas, expanding historical academic research on ‘conservation’ from the small high intensity tourism areas, into the 95% of the rest of the park. The UCF aerial surveys of QE and MFs in 2018 and 2019 respectively, show the positive impact of this element of the plan with increasing prey numbers and distribution.

The Recovery of QE, MFs programmes, and now the Kidepo Valley and Karamoja programmes provide for this element of the strategy, protecting core landscapes and known lion populations with a permanent protection and presence.

UWA manpower throughout the period has remained very low. UCF identified various roles to support UWA to optimize the number of trained rangers and resources to be available to support field operations. These resources have targeted the protection of known lion distribution and likely expansion areas.

• Provision of dedicated teams, vehicles and operational support to UWA in QE & MFs.

• 20 UCF / UWA scouts with operational support to remove snares across the Delta region of MFs. The scouts were and are stationed in the Delta on a permanent basis and have removed over 2,000 snares every month, dramatically reducing the numbers of animals trapped and the demand on veterinary responses, which are also a considerable burden on limited finances and resources.

• Dedicated teams focused on target areas, including Ankole & Kyambura Sectors in QE, and Kiba, Tangi and Chobe Sectors in MFs.

Lions are satellite collared in non-tourism zones where little to no information is known about their use of the landscape and how to better target resources to conserve them. They are monitored by UWA and UCF through EarthRanger.

It is now UWA policy that all collared wildlife, including lions, must be registered on the UWA operational management system EarthRanger. Here they can be monitored 24/7 and preventative and response management deployed as necessary. As an example, on New Year’s day two male lions went beyond the park boundaries, and were seen by the UCF team monitoring EarthRanger. A team was deployed to the coffee plantation and the two were pushed back into the park. UWA and the communities were otherwise unaware of their presence. Now a system is in place, conflict has been reduced, and with it the prevention of lion and community losses.

During the year the team worked with Richard Ssemanda running a trial fishing village lion awareness and response programme. UCF provided training to community scouts

Registered UK Charity No: 1087295 | www.ugandacf.org Low Mains Farm, Masham, North Yorkshire, HG4 4PS, United Kingdom | Tel: [phone] Facebook: Uganda Conservation Foundation | Twitter: @UgandaCF

from the village, and continues to link the community based system into the core operations room to ensure UWA is better able to respond and support community conservation.

UWA is the ONLY organisation mandated to conserve and manage wildlife, including lions, in the protected areas. It is UCF’s role to help UWA have the capacity and systems to do so.

IUCN SOS grant

UCF secured funding from IUCN Save Our Species Programme, for a project titled, ‘Emergency response to an upsurge in lion poaching due to COVID-19 in two critical hotspots in Uganda.’ This one-year programme was co-funded by European Union International Partnerships.

The grant supported work in targeted areas away from tourism zones, specifically focusing on the sectors where lions will expand their ranges into.

The small grant supported a variety of actions, including helping to employ two UCF staff (Jimmy Kisembo and Robert Ntegeka who are ex-UWA rangers), the training and employment of community-scouts in MFPA, wildlife poison management courses and satellite collaring of lions in non-tourism zones.

Poison Management

Sadly, six lions were poisoned in Ishasha, southern QEPA in March 2021. The threat from carbofuran poison has always been present, however, UWA has not been trained and prepared to manage an incident for their own safety and to stop the devastation that it causes.

In response to this UCF arranged for Andre Botha to come to Uganda to deliver courses across QE, MFs and Kidepo about identifying poison scenes, safely managing and collecting key evidence from the scene, managing the incident to clear the poison from the area, and stop further spread of the incident. 30 staff from across various functional areas of UWA were trained in each park, with continuation plans in place for 2022.

Habitat restoration

With support from the Tusk Trust and the Lion Recovery Fund (LRF), UCF managed to restore sixteen waterholes in the Kamulikwezi, Kasenyi and Kabatoro Sectors of QEPA.

In partnership with the UWA QEPA Engineering department, the waterholes were identified as important to restore. They were dredged, invasive species removed where

Registered UK Charity No: 1087295 | www.ugandacf.org Low Mains Farm, Masham, North Yorkshire, HG4 4PS, United Kingdom | Tel: [phone] Facebook: Uganda Conservation Foundation | Twitter: @UgandaCF

necessary, and the surrounding habitat cleared to improve accessibility for both wildlife and in some cases, tourism.

With the restoration of these waterholes, wildlife, including prey species and predators will spend longer in more safe areas away from high poaching or human wildlife conflict regions, where UWA can more easily protect them.

In the Royal Circuit a large waterhole was restored to encourage the impacts of mega herbivore on the habitat to help push back scrubland and encourage prey and lion back into the area. Within weeks, 12 hippos were resident, with elephants also present in the area. With limited funding, the strategy has been to catalyse the positive impact that can be derived from the grazing pressure and impact of mega-herbivores on the thick bushland in the area, gradually restoring grasslands and re-opening up the habitat.

Invasive Species

UCF has undertaken trials to help remove Dichrostachys cinerea , a thorny tree that has aggressively expanded across considerable areas of QEPA. Trials have clearly shown a successful way to kill the tree, and the focus is now on how to expand the method to larger areas.

Trial areas have focused on areas in the Kabatoro Sector around waterholes and in areas to stop further expansion of the tree into grassland areas where prey species should be holding.

Vulture conservation

Across Africa, numbers of vultures have collapsed and most are now categorized as critically endangered. Uganda has yet to act on taking action to protect vultures and their critical ecological roles in the protected areas.

Species endemic to Ugandan protected areas, such as the hooded vulture (Necrosyrtes Monochus), Ruppell’s vulture (Gyps Rueppelli), white headed vulture (Trigonoceps occipitalis), white backed vulture (Gyps Africanus) and lapped-faced vulture (Torgos Tracheliotos) are either endangered or critically endangered. Threats are not clearly understood. Consequently, UCF and UWA sought to better understand their needs, and manage known threats.

• Poisoning of lions and vultures has increased during the course of the COVID pandemic and three identified incidents of poisonings included the trade of vultures. Each of these resulted in the arrest of the poachers.

• Poison management courses were provided by leading poison management expert and IUCN Vulture Specialist Group Co-Chair, Andre Botha, including continuation curriculum.

Registered UK Charity No: 1087295 | www.ugandacf.org Low Mains Farm, Masham, North Yorkshire, HG4 4PS, United Kingdom | Tel: [phone] Facebook: Uganda Conservation Foundation | Twitter: @UgandaCF

• Four vultures were captured and fitted with satellite tracking devices - two in QE and two in MFs. The collars are all registered on EarthRanger in their respective protected areas, enabling 24/7 real time observations and long term analysis, identified nesting sites, movements and distributions, and carcasses.

• With support from the Endangered Wildlife Trust a system has been developed to ensure that likely poisoning events with satellite collared vultures trigger an alert in the EarthRanger system, prompting immediate management review and a potential response.

4. UWA CAPACITY DEVELOPMENT PROGRAMME

Junior Leadership Training

When rangers are recruited by UWA, they start with six months of basic training, led by the UWA and the Ugandan military (UPDF). As they get promoted to NCOs, the cohort requires Junior Leadership training.

UCF, with training teams from the UK and US military has provided both the standard course and the on-going training opportunities. Thus far over 800 rangers have been trained across the whole of UWAs estate, including a further 30 in 2021 by the 4[th] Btn. The Rifles.

The COVID pandemic severely disrupted all training programmes. In 2021 Arma dei Carabinieri joined the training efforts.

Junior leadership covers leadership and teamwork, briefing / de-briefing, medical, patrol strategy and techniques, navigation and field skills, law and human rights.

Marine Ranger Training

No training was carried out in 2021 due to the pandemic.

Wildlife Poison Management

Sixty UWA staff, UCF and other NGOs were trained by Andre Botha across QE, MFs and Kidepo – initiating an on-going and structured training programme.

Registered UK Charity No: 1087295 | www.ugandacf.org

Low Mains Farm, Masham, North Yorkshire, HG4 4PS, United Kingdom | Tel: [phone] Facebook: Uganda Conservation Foundation | Twitter: @UgandaCF

EarthRanger & Smart Phone training

Operations Room teams were trained in Murchison Falls at the Law Enforcement & Operations Centre by UCF and external consultants.

Ranger Training College, Murchison Falls

Following planning by past British and US Defense Attaches with Michael Keigwin and UCF funding support, the US Government has signed off and funded the construction of the Ranger Training College in Murchison Falls. The procurement process was completed by the US State and the college is now being constructed.

5. TECHNOLOGY IN CONSERVATION

UCF has rapidly developed a leading design and technology implementing capability, both within UCF’s own team, and through partnerships.

Across the savannah parks of Uganda in QE, MFs and Kidepo UCF has established Joint Operations Command Centres coordinating communications from digital radios, phones and hotlines, as well as satellite collars and cameras into the operations room to EarthRanger, where thousands of daily signals are easily interpreted on screens – easing immediate interpretation and decision making. Each element needs considerable design, integration, training and mentoring, operational support, as well as constant power solutions from the radio towers and JOCC, to the sector command posts and beyond. The change management is considerable and UWA Operations has embraced the new system aligning departments and information management for their use and control.

UCF has also been heavily involved supporting Machine Learning to support the development of drone and other capabilities for the future.

6. KIDEPO VALLEY NATIONAL PARK

Joint Operations Command Centre at Geremech

Registered UK Charity No: 1087295 | www.ugandacf.org

Low Mains Farm, Masham, North Yorkshire, HG4 4PS, United Kingdom | Tel: [phone] Facebook: Uganda Conservation Foundation | Twitter: @UgandaCF

UCF secured partial funding from Global Conservation to construct a JOCC at the park headquarters in Geremech. Funding was secured in quarter four of the year. This JOCC will be the first of its kind in Uganda, different from both MFPA and QEPA JOCCs which UCF has constructed. The Kidepo JOCC will also house offices for NFA and for the community conservancy office, in order to enable cross-organisation collaborative operations across the Kidepo landscape.

The JOCC will be installed with Earth Ranger capability, Semantic AI (Intelligence software) and will house all facets of law enforcement..

Construction will begin in 2022, when full funding is secured.

7. COMMUNITY CONSERVANCY PROJECT

UCF, partnering with Northern Rangelands Trust, National Forestry Association (NFA) and UWA, worked to establish a community led conservation project in Kaabong District, in order to develop and manage transboundary community led conservation and a wider regional development programme. This project aims to promote community-led conservation and livelihood projects within Kaabong District and the greater Kidepo landscape.

Representatives from UCF, UWA and NFA were initially invited to visit the NRT conservancy programmes in February of 2021. From this visit, vital contacts were made and partnerships proposed in order to pursue the goal of bringing the same successful conservancy model into the Karamoja landscape.

Initial funding was provided by NRT, and matched by Global Conservation. Preliminary project implementation programmes began in May 2021 and carried on positively throughout the course of the year. A stakeholder meeting involving partner representatives from NRT, UCF, UWA, NFA, district local leadership, religious leaders, and local council leaders from Kaabong, took place on 18[th] November 2021. Consequently, community engagement activities (using a bottom-up approach) followed, and were well-received by the target communities. Both the stakeholder and community engagement meetings led to the unanimous decision by both communities and their leadership structures to fully endorse this project. It was agreed that the community conservancy will cover five sub-counties; Kalapata, Lotim, Morungole, Timu and Kamion.

Two community mobilisers from the project area have been contracted and employed in December 2021 and will take part in exchange/learning visits to NRT conservancies.

Registered UK Charity No: 1087295 | www.ugandacf.org Low Mains Farm, Masham, North Yorkshire, HG4 4PS, United Kingdom | Tel: [phone] Facebook: Uganda Conservation Foundation | Twitter: @UgandaCF

Additional funding to progress beyond the inception stage of the community conservancy is already being secured collaboratively between UCF and NRT. Community engagement activities are still ongoing.

Registered UK Charity No: 1087295 | www.ugandacf.org Low Mains Farm, Masham, North Yorkshire, HG4 4PS, United Kingdom | Tel: [phone] Facebook: Uganda Conservation Foundation | Twitter: @UgandaCF

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f.I>JlLW4¥iI)¢k (L'I tAmitEd ..kn￿li K￿lJrt FiwDciAt Stst¢memB r(>r thL YL-ar f4nd¢d 31 Dcc¢mhti %)21 Directors. Report I'lii. B(Brd (>t'DJtectc)rs pt¢%entits direcr¢xs' tep()rtaiMI ihe audited tinancthl StrAtenwnts E¢)r thL fL%calyeAr ei)Il¥J iL DviLiJil)rr ?ogi. Ll. Regi&Tered Officv. l)h)1 17, Prti)¢c%N ,4nil Drive. Bi¥nknb4 P. ( ). Brf)x.34PII. L8Afkda. 12. ankeTh: ., I & 11 Iliiiik (L) limiiL,Q P. (). Box iU79 Katry)a]s Lwida. IJ. Audjto Jp II_IC.S()N.. certifil￿ 14ibh"c.IcciJllA￿￿Its. Pknr io Cim￿#[ R(iaJ 1-36. C Itf Kikuiixulii R<>fi￿ N¢2r i.'x i.-.t4 Criltrr XrLiJda, P. (). Bi)￿ J 859, kgMtMlg-L￿n￿￿. Goals R(x()Yc'riiihTr lind rL'cimnecill¥ nex]ertrd pn)tr¢¢rJ sup]x￿rIlli￿ rlK' r¢cr)ven- ijf rl)eir Will￿.1 -IIitikrAtii]% hiunail- IvilJhtL Cl)iii]i(r IiiipriJiw)x bi'rtd)IxKI% rn pll>rLrred ar￿￿. Dire¢tor6 -Ilii' rrii%tet% lalsi) ditrcti)I%' ¢(>mpam. law pur￿￿$) Strved ￿￿Ill% tl)r tL%eAI I-car #iicl Ti> ILItL ijt rlJi% reTY)rt CiiizeThsh4) L￿rmIall Bntis l Lpn(lan Lganda Britl%lJ B(>atd mic ccjtnfflitree Cliaiq￿.r%l>ll Ditccfijr DirL'Ctyif D￿￿CtI)r -Ilr. KKillim %itiirli Ir. K¢'iiii Jiihii I'IlLick Not-for- Piofii /public benefit obit¢iive I'.ki.'IiiilA Kl ilillite.liitli¢>Drn (LiK".11. ParLmaJwiY)eniand o)trnniuutse>. t(Kiised ?cliiLplUI)kF rlx. Ajtn% iiILI i)lJj¢ctii'rs (jt th¢. ¢)[￿lIL￿at1￿>II as A Xi)r-Ii)r-i)ft)hi ()4￿li￿at1()iI wljik i)peratiJiuT Li) U4paiiclA. I1)e￿￿1)re. A% tni.4ri'es ve ci)nfiil¢ni iliit thr C)txani%aDI)n c(MI￿￿5 r¢) niert die Xl¥Trl-Ec)r- l)r%)lit IpulJ&L- Ikiirti¢ Iil)i¢ctii IlIidLf I}￿. LLr.lJidan and re¥ryJAtii)n%. lrt a¢¢ordancc with company law. a5 the compatt￿s directors, Certify thar 1> ate A￿￿￿[e. there Js n¢) rele￿￿ 2udiT ltit(>M￿lI(Trn ¢)f whicli a￿lt￿£$ atr utsiwatL" tli¢ dirv¢ri)Tr i)f rhe C(>tnpanv, we Iydve takni all thc tlknr i>l￿.ht t() l]aTr'e takeii ill i>filir ft) iy%ikv (Iiir%LIvL% -11￿￿re ()1 iii%- AlrvAnr aiKlir 1ilti)rman¢)n ancl ii) e%i2hh%li rliar rl)r ¢i)o)1)41i!-'% aiicb-r(>r% Are Are )1 tlknr i11tr)rmau(?Il Current Yeaf Audii Results '(' the clArecr¢)rs have re￿e￿￿ed all thL' CV¢fati()ns nf thc Cr)[n￿l}S.theWrPrk ￿lar¢￿)rIS 1)t'cxirrnal ccmisultrdnts, rlie IlJlLI rtPL>tf% i>: dit ¥xr¥nul 2nd that ut AYll)4reinLpni #i)iJ tiiiuiil rliem ippr1)p￿1tL- .?tid i11 1.8.1. lkni'y l14uiesrlv execiited ¢>ut knp)n&ibJiitts￿ > dcr¥iled An pv)fL'5>tsd %taJI￿r[lS. ¢(￿1r[a￿[s, And thl (.iJll4)Ail!' pjiirirs."

lJf¥ANt)A CON'SERVATION IU} LiMrrED Audit ￿'Port Fil)￿￿¢1￿ S￿1¢￿¢￿1% dje Year Ertdtd 31 ￿kn2021 1.8.2. Y'e l)X%'L c%rqhli%hL'cl #imt c(>fttlnuiii￿I1l. effcLiiie %rstem IiifrD￿ C¥FJllflil AiiLI ri)ITll71Jxiiit. ff? i)r()Jry(k' rLY%(>rtable a%.4urdnce as i(J the Jnrekrrirn. ￿)d rciiat)Jh"n' <)t rl clats. tLI)aiicial p￿TL(.$￿. tJnanciRI tr.IteLnei)t% asid rii ALlriiiutelY %af¢'%rytar(I,Vrllti- aiicl tnainrAi11 AiCIKinfAbi]iu' ¢>1 rh¢ Cénni)aii!- N A%%ti4, preiyiit ai)J ('tr()f Aiiil f>rl)L'r irrexuhriiivs #JMI t() ensure 11111 r Hi4)rl)pLiaie accisuijtillx I)i>]Jcit% sUI?P¢>Lied l))- tL'HSilfJ2bli afiil pnia￿l[ ludl￿￿EllIs knortthit%. atr al)IIIMxl 4)Ji I C¢)l)Nj%fil)t IYA%i%- 1.8.3. I'v lui't. Po)￿1¢1{￿1 tlic atlcbi(>r% ￿tre￿tlicICd rimck Acce%% ti> al￿ t(MnplctL fi(}ttl$. aats. iiplatLiti{)tL% pLLS¢)nALJ aTLd ewdence ther requesred ti)r i)urp()5¢5 4Jt rliy 911th1 ost balance sheet even%s Tits'r¢ liaY¢. b¢'i'ii Ji() NJxrnit&cAi)r aficCliOX th¢ (A)IyiJi the IJSLMI lear el￿. i.io. GoRDg Concern Ti)t Li)InPaIJ!- ciincern Lq addres%ed in n(Jte 5_? j. l.lJ. Di$¢lo5uTe of re]ated parry transactions l)41rn rrlatJ]IX Ii? tL.]a￿a Ii¥rti¢% aiid wbxibir trAn5aCtiti￿s and tiat1￿C lit aJii} are ￿￿11)%¢¢1 It Xi)IL ). r 1.12. In accordance with the law. as diTtttorB io the best of our knowledge. we ¢ertify ihat w¢. luiy c()mp]ied with rhe pn)VRSiOtt% C)f all applicable law5" i) IA¥ are AWAfr. tljrfc L% [1() frki¥iif iilt(>rti)aiti)ii ii'lucli inateriiiin]pkcr i>il ili¢ C.Iimi)Al) i?pitr.Itii)IL% ()r 4r3lctt￿Ilri li)r ilir IJ%cal !'cAf iiikn131DrtrJttki ?i)?l/iid li> ilK' Llatt f>t rlu% fri)iirt. rlie ilJrict¢)r% {}t Ilir Lf)tI4YaiX!'. WY haye rakni Hll tlie step% that C>iW]it ri) kni'i- rakyIi J1l (?Ider tti Inake

t&l2b￿.1) thai diy L(>inpxi)! % aliditl>r￿ sre aware (>t rliir LnCc)uiiati¢JA. APPOIn￿ent of Audito 1111 Aiiditc>r. JP ILIC.4 )N. ¢xprrsscd their ￿￿11￿1￿.%% ti C¢MItiJIUr ijt i?ifitr i]1 a¢¢iTriLlai)¢r ￿.1￿] ctiixi 16-,1-l r reapp>Jrttmci)i li? Ifj.IFpr(jTrink￿ rhi% ryirt of tlir dittctnt4 th¢ th"T¢cr(bTh are atS() aPPrnVLi¥ rl)e acujiiiirh iticliid¢d 4Lr¢i1?. jii rlx iapaciry. ks C.iJinpaJl!- I)ir￿[￿)(S. 'Ihc' r¥p()rr appryivecl l￿- the BÉ>2Th1 ijt Ditects￿ (>[) Ili¢ dxtv lirsi LMI rlw Stateiiitnt (It k. P¢K4iniin {thL BaknicL S￿.Lr) artd sikry)¢d ()n its bch￿[ br. 131. ()rLti ¢)t Btwd i)f Direcro ices ¢reiA Date

IICANDA C.nNSF.RVATION Itll LJMITED Aimlii lind FinaDcial Ststements FTrr th¢ Year En¢kd 31 De¢cmhei STATEMEWT OF DIRECFORS. RESPONSIBILITIES Tlii #I￿ i)p¢rnri<)tt (>t siich inten)31 t(>iithhl AS il'e (krrmlilic 1% tr) preveiit 14 d¥tcCI ttallLI, rrriir. tliLiiicMI itnpri>pr2LriL?. Jrr¢wlatirJ¢% Iir iiiinc¢Jtnplianc¢ aiknl ei)ablL ttx. pry)Rran<)ii (>l' ThL _.11￿li￿ SnnittTrrv Fiwn¢ial %tst¢pmrllts that are free fri}￿arn miieiial llJL4srateJneAts. PrepaLinMt presttinnk the .knnuAI Sraturim- fii•i)¢i41 %raicJllrilT% I1￿1 Iirc%cAr tairli-. lli "ill iJiateiiAI r¥lbrcr%. Iiif xi%'c'A Inlc aiid i'iew tl)e i)t 31tairi Ibt ltic (.(>tnpiiii as ar rlK cn(l (>f rhr rrp()rtiiili PLilI)d ii lid lif Jts i11)L￿[lI￿r ttp%idts tyshilijm ti)r ihJT ti4(al Jn acc()rd￿lte thL- ai'iilic?ble '.ii%iiriiix 1iiwci¢¢L%j(￿}4 All¢1 shcni. pTh)bits and th)ai)cta] pTruleJice t¢) (i)eL?l¢ fCl>l1<)tiycall!',rttccDirls', IILI c'tti£iLiirl!'. %AIt.XlOTJ. Iriitr and ti)r ihc Cibmpaii!-'% a%%Lt.% Ail(1 frs1)utiL% ajiil 11111Li rvLNr. anil (Trrh¥i itrL'kFulanixL%. it L% ittappN)prir¢ fc)r ￿ rr) pr&%U￿￿ thar the Gjnpny tsxitinur itj I)￿5•￿¢￿5. P[ilNILlii4k rl]L' auditijfs Iiryili utYfitticr¢d tinxJF all LEplaJ]atii>iis %t3tt%. and iiih¢r Ll-iII¢IicL %() iiyiui¥{I IlllLI ilie reiiabdit}. accur2a' at)d Ci)It)plrtL'i)Es% i)1 t1￿ Jar4 Kii pr()iiclecl .iiid tak-liiktr 4friis, a diri'crtsr% t4) All%ti!- (>lltsLIIx4 rl¥T Th¢ ¥uchri)[ hicl riTnLI!- tiTr all rclLI?nr (lira ii?cliiiliii%, acciiiint, O)) Ill reci)nb. dncutnei)ty. daT#. #nd rh(KNe ￿[5()￿5 (Inclidinx %rAff. CLl%r(MnL'fs aliLI 51ipp￿.r￿ Ii'llLn . I triijll ik41<)t)I aL￿r(SI￿ (l¢termLiie ir oecL%5aTh' tr> iibrau) i)rCL%%..ILT iudir puq)i)bL, an(] Jiecessln- 'Ilii)%¥ chAr4Jeil ￿11￿ hN)IrfJLII)Cr ￿]X)[)5]b]r fi)r the C.(wJ)!- > fuiai)cvAI repirtin% X t htti-e thr acci￿]￿an}7￿￿. fina￿CJaE sfAtetnth?t8 aThl i)ther JJit¢>rn]atiiii) ",IJLpfiiJl, thi. Iii?Lnilrcl Ippr¢)prL'ifLli iiiti)rmiilX <)Iityc.lir%. w¢ arc %Rn%fi¢cl ihar c￿<.([71(xl (jiir di)ti¢% dircCtt)fs. IIIL li1￿71l1AI rAILtnL'f2t.% rrne Atm] riew ot the Cnmibn!"% tinaiJcl ￿}￿11111]I b)[ rhe fi&ial l-ear thLII IiiilL%I iIl Icci>rLIAllcL' ￿ltI1 rhe ipplieable trp)rritiK fTrJww%)rL 4od I￿[eb1- appr(>i-e d)e tlliAnc￿l ￿t￿tLVI]IL'jIrts 'Ind Ilir¢'¢riir%' r¢p()tr thi. B(vArd lit Dwecti)r% nii tir%f %Wcl I￿1￿>￿. ¥iid (Tri) Ixhili <)1 rlil. IliTr'.Ircl 109? Chaitpetson ate Director D¥ BRJ ry Services

JJP MAGSON +￿414 159W314115 [phone]fr +2% 7Ot6701bXI CPAS & Business Adviser5 ctyan￿￿￿￿JpMalsOn.￿￿ -Advlte oeyond Nurnbers 15 Jn ird•FondÈntWth or tFK InternJtwd an atsttlthTrof INDF.VENDF.NT AUSJITORS, REPQKT TO THF. frfEMBERS OF IIG.INDA r.ON>ER"IAI'ION L) LIMITED Opinio '.1 i)..f4th1)-r ?iJii. Ivlicl) r.1￿￿.￿L--.¢ rli:" tjlliilliilJ JfJrvfrAeJit￿. ttr￿al blar¢ii￿n1> pfL5ei]t t2idE'. tiTr Ill [Ra￿'r￿:1.sl)¢cI4II¥1 ¥l't'. The B251s f(br OpxDio ¢11 l.IlNt fvJ"P .IIL Tr. JTid t4c TLSB_4 C.I:" ConLlu$ion% relaiing io.going concern '¥ IL4I'¢' tllirliiri¥ t41 r¢.fTrtr iryl rrsp¢¢r Ibt ti)J¢>Wji¥ t)uttvr% Ln rebtji￿l I(J whitil d!L' I...l% tL'CllgF¢I lil (Lpiir ai'paiptiitE. Ilt 3.1.4. n:h'tr 1lJ¢lLrs fqrina•j%4•a￿ ()ther tlLfy2 i.he fu￿¢1#1 stattyottsts 4TKI thc AiidiiiJr$ llvpon Eile￿.￿￿ '.lJl CXi1rtrs 4.1 aih..-

IIGANDA C,ONSERVATION (UI UMITED Aiidit Rii)(>n Fi]uDcul StrAleme￿[ Fo¢ tbt FiyLaiYellr Eolkd 31 Iketmbcr a)21 In c(?nnLCtÉiJil With aixlii i)t rhe titullcial Strten￿n[K iTrUt rtsp)Iisibih"n' Js r(> read i1￿ (>rlirr iiil()mknttnii aiid, 111 LIIiiTi4f %ii. C1￿1¥l￿tr ivhether the ()ther irxt<)xJrAti(>il L% lna1erLry￿- inc(Trtk%tsruir ￿ltI} rhi. tjnancial sta￿'mL.1If￿, i)r liiir Kiiil%L%tLI)Clc% fippirenr tnateIial mis.%NtttncllL% are re4iurecl LILfrtJlIlJ￿ ￿4)rrI]rt tl)err is a IIIAIV.I&I1 %'4irk ii'(' li/i-I' pi'rtut iiiiab"fiin% ()uc i)pu]i(>n. Faur atrentini) l¥) Nr)re 4.1 the t-u)at)ctAI %tariinoilt% I￿h]Ch iIlcbcxte% rI￿r '.l% at 31 Decun￿r ?(Pl. rlietv LS a Iiekmiii'e ihar¥liiJlJer4 Lyiun- W￿111￿￿1 Jn the %Nremeiit i)f fjnancjal i?i?%Jti<in <)t L(rN I?.141,j?I 11{I?O.. UGX 94.-0?pi3). st￿1) A IMkn11tL jini)]i¢% tI￿r tl)c ¢r acciunill￿red defftÈci￿. wh￿h ()ttset te%ern'u. aJKI tlii'retiire hr r¢fereiicr l<) Ihr Ci?Iyti! s star¢inuir i)f financial l>ii%jtii)Ii ￿￿1￿￿)Ce shcctl date, rhe net 2%setS ()t rlx. C¢)[￿q1￿ thj tl()t ¥¥reed rlii. aw¢&rdrr cit Lrs cAllL.d-up %hri CTri pirQ dL%ttilhitrAbl¢ and wi(bsiributrAbk rcser%'v%. .15 aT 31 Dt¢L'tnlx'r ?091. Ilxcr¢ ib Hlsi) 2 siekT?ni'v tietcurteAra4.%eroYercurrtAt JLabibtF P()SltiiJJiJn thr ￿rA￿li1 IiltLIIAtI¢JAI I)(TrNilliiii ril LGK li,433,931 l?11?11.. L'l-,N ?9.3l)8,1)?31. IIIL f￿￿11(]￿[ st2tettkYir.% ￿el} prepii¢'(l Yllllx C(>IiC¢lli IM5]ts C>n thc %lllni)ti<)ii rhilt tliL. CiJintrAii!- i￿ll C(￿}1]11￿ ti) (>brAJJi Iiii)IbiikT %lll)P¢>n tr<)iii rl)v %hrvh¢)IdeTh ()r directl)C%, Jrs iwplit'r%, LaiiL III(JTL ¢apLrd x pianlled #Tid adiNiiaTI r¢I.rni￿ mtri'r ir% dA!'.Ii>-J21' iilJlikrAriIIII%. 3.1.6. Management and Tho$t Charged with G0Ven￿nCe for the Fioaneial Siatements -I1?112ll￿M¥l1rLg Ely[￿￿1%]h1L. f()r tkn. prepAratinn ancl fair pre%eiirat%M) (>1 tl)¢ tiithn(i￿ 5vAren￿￿t% Di 4cci)rdaJicL- ￿￿rI1 Jl.'R.4 li>r.SIIL% f<)[ %iidi llitcfjd c()nttt)l A5 ￿￿tr[JUnkn L% AecL%ari- Lyul)le ilie iirci)atAti(IIi ()t tITKIllLJ￿ %ratemviir% tho1 #re tree IrOmrn2ttti￿ mi55fAterneJit. ththei dl￿ tyi fc{￿ nr¢w)r. A .¥JiID4r Cl)[￿￿￿1. (b"sclilSii¥F a& appiicabk. rehrd wili¥ c()nE¢ni atKI iL%Ll4 tlic W>ii￿￿ c(Hic¢n? l)%%L% il Rcci)iiiitJllhk t￿n￿gen￿Ar eitlr inretmls ti) ]wuithJtc Il Owiy (Ir Ce2%L' (VLTatiiifL% iir h¥. iiii rLxb% tenEtUVL. Iwr r() d¢) w. 'Ili<)%¢ clurxttl ￿ryth M4)VetnayKe are Lw¥lAe tk r¢P￿till￿7?￿￿￿A$. 3.1.7. Audttorfs Responsibiliiies for the kndit ol the Fin3Dcial Statementsl I )I￿ iJbjtiTiYL r() ¢>btau) tea5onable ab)ur whether ihL financ￿] $rAreMen￿ ivlu)le are tree fD>in niateriil Jrii%%Tar¢yl￿Ilt. whether rc) frdlld i￿5￿. aixf issue auJifr)['S fePI)rt tl)at uLludc4 (>ur 11)ilJii. R('i %iinfibli' a%%iiran¢c L4 a h¥h lei'el ijf &%4iJrAiice IMLI J5 tM>t 2 k4VAtaiiree dLgt #oclir c()ndiictL'd ts) at¢()rcliJiLe iiryrh li)TerrtAtit7nal.%r2lldar(ts on.4u(bti]¥ ￿ttU a InAr¢Iial TniNsrAtiYMciJr WI￿11 ir eNi%t%. ,IlJ%%rArillirilt% 11 afi>e fr(irn ()retr¢)r and c(>Jknidereil [TMiL￿d it. Iihh3tidiTh]h- (jr Jji th¢ ay&iii'xatL'. tIIL!' Cr)iild LL-A%(>Th11)lTr ￿. expec￿({ ty) infllle￿¢ ihr 4lecLsl¢)iJh ¢)t raketi rfiese titmncial .4.4 ()t ￿lM Aiiilit 111 aCCifftknn¢c wirh Internatii￿al Sran4larLls ¢)J).4uJit&l￿r exex(Jse pmt&4%ic)nal judwL'Iit 4IX(I tllA]iitralli Pt()tVbil(uknd Nceptici%m th¢. ULlir. Ili. aLvJ.' Iclei)rit%' Ai)d the rJ$L% ()t ￿t￿lS1 llJL$%tsrrtMnr (>f hna]￿lI1 I14￿r]I￿r ri) ti?iKI i>r L'rrJl%l%t' r<) rh(>%(- tL%L% a[J(l (?l)raiii '.iiithi L%'iIIc'TlCI' tK1t 1% IittÈciinr and app￿)prjj￿¢ tt> pr()Tide 2 basjts f(>T ()i)r 41PJilli>n. '11￿ (Jf d¢fein4r A Mate￿ mi%%F'.ItLmeiir r￿L￿till￿r iti)m lrnud Js h¥hcr rhan i)ne re%uiiJt4. fri)Tn L'mir. a% trxid in21" 111i'1121-t c¢>llii%j{)n. t<)Ik?trTr. IiirtnriiTrityl i)TnL%NI(>llS. tni%ry)tebeTlIAtiIMlS. É>t JtllL'fJvJ c<)i]rr(>l. ()l)rdsn ¥1n UndLtsMAdi￿ ()t ll]teTh)￿ c()tJtr()I n'levAiir Tip Ilir 21ttiii Jii ¢)rdrr t¢J AidLt prr)cedllrt¥ that Xr¢. apiir¢iIir￿i¢ rlwatcut￿t￿￿ceb. Ixtrnot t()r ihe i)CLVfi%UIKal) iTrpinMiJi (Mi tl)c rll¢¢rii'wiv% 'Alivrc' rliL 11)iifi)PrriffliL'%5 111- acc¢JiiniJlX I)IblLcJe% iL￿[ and rlx. i)t HCCl)iuitsJ4r thfitnAtL' '.uid retsiL'Il diicI(knurcS t))aJL' br mat4itrn'rtt.

U(iANDA LONSLRVATION (UI LIMITED Aiidi¢ Rep>tt FinAneial Sta¢emellis th¢ FihuIY¢w Ettii¢d31 DeCerttbet￿l1 CiJticlu(le tlie appr¢)priaienLX% nf wAn¥xement'S (It the a)JKem basis i>t accfiuiitinx #lid. IMsril i>ll tli¢' aiiLlit LNrydi'ACe (>brgiJie(L wheEher i A￿le￿Il ibiccrtsllltt. I'XiiF4 fclxted D> ('i'Liir% i)r c(1i1{ljti(iTh rlbit nLiI' %i4mifi¢aJll d¢)ubt Iin The C(WJil- % al?iJin' lli ciiiinLlllf a W)Il4F tiiiiclrii. If ii)i)clii(l¢ tILir.'I IwtL&£ial ibictnAllln- eXL415, Ive are rLwiur¢cl ill LIra￿- am'iiti(pJl aiwknThir'.% rep¢)n ri) rht t￿￿tell LlJiC-li>¥iiit'% Iij tIK tllianC￿ %tatements nr. it siich Ib&'diisiifvs 3fL' iiudc4iLqr¢', r<J liv￿ltI. cjur iiiiifiJ()i]. ( )I coiiclu%i<)ns Ate based cm d)L' audit eTrideii¢e i)htaDied lip rii rl)r cLgIL' ()t ()ur xiiditc)rf% IL'P)rt. H(li￿￿'ve£, fiifiirL' cl'rl]l% ()[ t()iJditi¢)I￿ inai cau5r tlir Ci)mi)an!- ri) CLa%l' r(> ci)Ixtill￿ 9% 9 Ary)Ii)%N Cf)nc¢rJi. .%'iliinte tl?¢ i)vetall pre%entrAiion. Stn￿t￿re and c(Trnr¢'Jir (it thi. tJi￿nts1 siaitincilts, JncliKlii4' tli dicI(>%iices, iifKI wh¢prhLr the >tst¢m¢t)E.% tel)￿)r the iM)(krl!IJw. trAi]%ArtitiiLs aiiil ci'¢iJt% iii a IILiitslLt Ih21 IclJJei'v4 t￿r i?re%L'1113ti(5i1. L. CIITiiiniinlLAtL' ￿￿tIl tliiknr charwl ku)IL'nUnCt (t￿rdi￿ <)rhet iXLlltcrs, the plfiniiv¢l 2iiJ tIl￿tr rliL' audif and sibffjiticant al￿11 tllidinhN. iocliHEi4i aik!. iwutscanT dcticieiicLe.% iii JiireTI￿1 ¢(Trnts()I i. pr(>vMIL. th(>%Q ¢h2rk¥'cl wjrh x(Amancc Mqrh H %rAfi'fnL'nr rhar c(ImpbL'd rLIL'iTrnt crliic81 i¢LiiurLIii¢'iii% r('kr.i[IliiihT li]Clcw)dei￿￿. at)d tc) C¢)iTrm)Ui]IC2lc wiEh tjirl￿ rclaii¢)iJ%liip.' ￿ i)tl%'¥ sNrreT.4 rltsr F￿)[￿ FhL' Enatrerb ￿)[n[n￿nICAred with tbnse cbacged witli w}%￿n￿We derem)iiw ihijbe inattLr% tht wcrc i)f Ini>%r %lblUti£:iiice the audit ()t rhr tii)aJid sirrin¢'iiT% ijf il)Y pL'ri<)J #OLI #re rl?eiet(>tL' rht, ke!- aiKiir matrir%. l¥ L. CIL'NcrihL' rhe.%e marrer4 111 Ill￿ audirot'% report uiiie.%% law Isr re&￿￿￿￿(51] ptt'cliicle% piil)hc dJ%cI(?%ure dlx)iit rliL' tnRrr¥[ Iir iiheo ui extcemek rare cirautL%tgAce$. deri'nnine thar A n￿[rtr %hr)iilil iy)I I t()iillniiiucatttl iij repihtt i)ecaitsr tl C(>JL%iNiiiY1CL￿ ()t diiJJ4r 41 J uid Ix. v_l1￿Cl¢J ti) 3.1.8. Report on other kgal 4uJd regulatory ￿q￿1[eMe￿ts Ltjider kncu()iJ 163 atid 170 itrt. rl u￿[￿lI C(m4￿1￿¢s.4ct th? l? requLred ti) wiirr rr) w>w Iissecl i)A Ililt 31iclIt, rhar in fJpiwr>n'. IlffLXi3r!' ti>r tlie i)UKW) aiKht. Prai￿r lyMik.N i£CiXltit% h11 lkni by tl L¢>wai)!', ixrah ￿p￿ra trim i)ur L_Y3111iiiRtsiJi) (i( rlii tM)IiL% itld lThiiiJk rnkL11 Jnt() ac((xu]t thc co[ll￿lI%￿I1J￿. th￿L￿nCl)r% ai'aJahlL' 1Tr4iLfL' JlccL'b%k￿.l. tl)at il)r C4)ii)p?ii!- n¢) braJKIIts accoLthn%tr. Wc im) ￿￿t￿l)Ul￿) fi) Li'p)rt tt) lil￿rI]L.￿ pnyvr r¢tur LIcLlllatc l()r tTr￿ piwx)gc (Trt ()iJr2ty1¢t Trcejved tr(Nn l)rAixliv% iy)r I￿1[e￿ IM- li%. Ilir (.i)mpatx!"'N 4tat¢'rt￿nt ()F knnciai t￿￿)17 and 41f ￿K￿ri1￿￿1ve liiciitTK. lJ)riitJr atxl li) ACC<)UTirl il) a¥te￿At5￿￿[h the Ix>()ks (It aC￿)u￿r pfty2ced JA aCC()rd21)ce ￿￿ti} tl.Icr. CL'LpufLLI l)!. tk.,IcrJti il)r n¥n¢)rr￿}￿4UI￿J ￿￿[￿&¢ a mKaiid (>f dir NrArc' ()t Ihc. C.()171PAII!" % iliRll Jr tliL' ()f its financtrai t￿￿1{￿] a5]d oEits 2nd c&%h tknw%. tc>L tI)L pLts)d rhiin LyidLxI 'Ili¢ (.(>tJ4Mi]Y L% nibta l¥)klts¥CeJtrte %Ub[nitty¥xTh￿Pa1￿(￿￿￿acCi￿￿} at¢ I￿>t C)bbMrd t() ¢w) ihL4iier. Jn i)i]r i)pini(Jil. th¢. ¥cc(K￿rg hxii. pr(pth- ptLwri'cl in ac¢()rLIRncL' Trirh tliL' pr¢)I1sitTrn4 <)t tlk. _4ct r(> ￿-¢ a twe aixf nt %tarr %)t tkn Ai)J i)v>tsr c)r k)N ijt rlx- C.i)ITq)thJi!" a￿1 tIL1ttvt5 be Jnth&itrd ￿ t1￿ ￿q￿tt Iw (It Part Ill ¢>t %tnth Scl)rilith. r) rhc'.Ict a￿. fu>1 reLiuJred t¢) be disclilsed. tr) dit. CritnTkiii¢i i>EFJnancial PthJ¢iiMI (IIA]AIKr %lirrr} Lkntr. tlir ilx Jt {)t d)¢ C(>r[)i￿li)'. le%% than the Awt¥ate i)t tkn. C(xws S 32. 'Iliii [L1￿>[r L rtkniclr vblcli r¢) lh¢ Cihmpan)'s [nLYn￿ts. as A 1)t￿l.. It) ACCiiftkn1￿e Ivitli rl)r CiiniyJilicN.Icr, 201? IKI i>r iJrtlit %pi'citJLd applieahk. ]Xii% and A¢¢(>r(lin4lr (iiir iixlir i%<)rk Thill Ix. IlllLIL'rrakL'Ii %ii rliAI IWL. lluhlii %r.Iri til IIIL l.i>JllPAiJI! rlvjse mRrrets we are ce4iiifL'd DTr Til them in ail aiTrdit<)r'% Lvi)i)n 111J Ii)r il(> I)I￿1￿￿. Iii Fl)(Y¢ urCim4ranc￿. ti) the txreiit pennjtted b!. lau., Ji> IJ()r accepr a%%lliiie ¢'spiirLiI)i]it¥ r(> i)rher thAn the con]p￿}I thc C(>ll4)aJll"% rtml]¢r• 3 LNJdi". fr)[ i1￿Jr y'<)rk. l¢>r die li￿lt rtp()rr. i)r ti>r ihe c)piIu(Trn we f(xm li[ I)rher￿lSe.

UGANDA CONSERVAI'ION (U) LJMITED Audit Rcp()rt Pinancial Statemtttts r<)r thl. fiseJlTr'¢thr Ellded 31 D¢cemb¢r2OL L.IG%(I f Upnda P11 rn)L'r kJmtrALI. LA￿1}( ).'IlI LM

r¢>r il YAr ED¢led 31 De￿￿be1 2021 FtNANCIAL STATEMENTS Statenieiit nf Firtan¢il Ptssiiion Re5r#ted Notes ?J)21 Shs 202 Sh5 ASSETS Pi¥ii)tLr¥ ajia eqlilpn￿llt 3.099 610 4.690,4CJ9 Current &ssets 136.110.19i 1.581,.?69.96? 1.717,680,157 .18.30?,760 1 933.146,1 j9 7L448 919 i.13 Total L720,7T2.767 L276.139,388 RESERVES AND LIABILITIES Re5erve$ ResliictL>d tu1￿1. 777 3.31.575 P)? r6-..?lJ61 -I,(Vl?.610 J4L3 -. 83.0.i8.574 (81:.4.7(1.-7961 Total rcserves 24,707 553 Ciirreni liabilitiex 5.li i.16 J.191.6•6 1.-.()9.99? 4(1. DL.tLriLxI LIICiJinL' ?3.(19_1.n75 1.2 17 1.Tr3,86-' IJOO,846,942 L733,ll4,lJ88 1.7J).772.767 L276.139,388 'I'lu' t<) rhe&r t-liJAiJcisI %t2tements f¢)t the t￿£21 year endtd 31 Decemlky ?O?l [()nn ail tiirehNrdl parf il)¢￿￿>t AIILI hi)ulil l)L' fo?Ll kiiil cf)IL%trt￿ suc]L -I'lii DitLrr(>r%' tL'P)rr, rh(. IiiJanriaE %tstcmcnts AtNI ¢Jtlw intiJn)ti(i¢)n were I￿. thr B(?Ar(l ()t fJire"-riir li rlir clAre siLpiied ￿ll)W and sigoed IIA ￿half r>f the I>T. Chthirper50n SigDatwe Date Ditecior Signaw Da BRJ Services

For the Fi%dYcor Endtd 31 Decembei >121 Sig4teTnent of Comptehen&iYe Incoules atsd E%pense INCI>ME Wtsj 7JN4 F¥PP.NDrrLTrE 13KD)I J75.114 ¥JTr4b.71 I￿¥57 17_11 ryi II4AHI.J I'l 4J.417 1.411.M 1"47IX 19.SMn4 yAJoJ g) -411 illlllltiV% relaiL t<) ciiiiriniiing oprrati()ll5_ The ni)ies li) thLY final￿￿1 t(w tL%c21 i'eat ¢n(IL'd 31 L)Ilcinb¢r 2U?I fi)rm ail till¢Ktal EYArt thttetDt 5hi)uid ￿ Ltad a￿1 as $wlk

Gjnstrvaliott IU) LAmiied idit Report And Fi￿anCial Ststrmei Foi dje Fi%￿1 Year Evd¢J 31 Dcc¢thr%121 4..3 Statement of ChaTVS in Restfves Cawtal Restricted Funds Reserve FuDds Reserve Utsrestricted Revaluiion Totsl Fund Reset¥ Sh5 Shs Sh$ For the year ended Dcoembji 31, 2021 4.690.469 783.Oi8.574 181?.4i6p961 {24.70?.S52) %iiqilLL% tliT rlw {i.724,999) 19.689.(V)o 13.964.091 l)vi)rL-Ci'.Ill(>ii cli4te {1?9",.8i91 (1,597.859) At Decernber 31, 2021 J,(bg1610 TnJ33p75 (792.767.i06 11341,322 For the year ended Decernbcr.31, 2020 9,i48.339 703.f3,109 C38.138.ti701 124,717,129) iitplii% fr)[ rlil !-Lr 79.18j.47? fi9.1750961 9576 i4.(1911.IKKI 54.690,OIKI Piii)r pen<)d adjii%itn¢nt (4.8i7.870) 4,8) 1.870 {i4.690,(K)O) {54,690,0(Kb) At Dccember 31. 2020 4.6￿.469 7&3.058￿74 81445 124.707.5i2 io

Idii RLPJrt ATMI For the FkgulYeAt Ended 31 Dccernbei 4 4 StateTnettt of Cash flo No 2021 Sh5 2020 Sh$ C#shfloThT from operating •cty%rytie8 13.9(A.U)I 9.%".6 Driiti'fW)II su￿1￿4 before c2P112I chaDges j,8?9J89 5,83696) 13.964.091 iicrei%L.j / ilerTLYN¢ Jsi recen4bles .80-,.43il liOI.4491 459,661,1)a8 fl.848,63?1 4.19-,(1%,-79-. Net cash generated fro￿ 01 spent opetting a¢tivitse8 334,459.712 4038014,177 Irtcreage in caBh and cash tquivaitBts 344423.1￿3 LI)44,653,142 Cash and Cagh Equivalents l.a).146.159 188.493.017 At end of ihe yeor 1581,?69,962 L233,14G.159 Thi. i]Iirc'% Di rli¢sL' Uiiaiici#l %tati'n'nts fi)r rhe year eikitd 31 Decekn form an inte￿] patt thete(Trf and liiiiilil l)L £L￿a..￿l(l £¢￿￿$t￿￿d as %uch. li

CIM)&¢fW4Ti¢)o ILI Linjiled Alidit Rtpurt Si¢enheDts r¢)1 d1¢ Y¢Jr 31 DettmbtrJ21 THE N(YTES TO THE FINANCIAL STATEMENTS 'rh¢'%i' N()tL'b tt) the t-Jnallc&al fnr ihe fiscAI ¥crei]dcd ii Dttcem￿r t(>rnl al) Ll)t¢xr8lparr rlxr¢nt i)(1 kliiiu]cl r￿LI".711a c¢m%inmt 35.%wlL' General lufoTmation C¢?n%¢mtJr)n IL?IJml￿￿$ a ¢i¥wY ]iErAted l>rxwantee. inciwrated iTrn O) ￿te￿nber g(M)2 under Summary of Accounting Policies 'Ilii' acc(xuitinx w)]icits applied in the pteydtaii()rJ (>t ilitse t]1￿1￿la1 %far¢JilL-tit% Act. Nrt Ixit lx.1i)1￿. .¥cepr t(>rclknJ4￿￿ CJI ai)il di%cli)%eLI Jn rhe rdcTrTAfa¢cf)Iiiitsnxp>iicr ni)rr. rl)rsL p¢)bcit% harL' Ix'L'ric()11si%tLiirl!' Apiibcd iii dc'd￿IWir ￿ltI) it¢nx% whKli are consKkced mareIia] ttTr ComFanrfs financial Sraremenrn f<)r all t-L%C21 i.2.1. B&sis of PreP￿￿tiOn and Preseniation 'Ilit till.1t￿id[ %Tr.Itemti)t% IIAve been prepared iind¢T ilir l)Lstt)rJtRI CiTrSt Ci)Ill'LniiiJl1. 1crnul l)asj% iiiilu%¥ itlii'nwNI' %fAre(l Thithin rhr%c accTHin¢1nK￿b￿ n()tel%).lli acciTrr(knn(eTridi apptsoal)k Triid tli¥ IiirerJkniri<)iial FiiiAIicial R¢!)i)twi¥.btatiilatd t¢>r Sttdl2nd Ilediutn ￿L2¢￿ LJXtiTits ILbK% f()r %IIE..l 1S%ll¢d di¢ 111rvn)2tli)iuI -IcciiiiiiDrÈx ST>I)dard￿ BiYArd ii.1bBh% ad(>pted and adaprccl rtTr cl￿nn( "api)bcabk tli)a1￿1aI ttp)rtiJ¥ framewoik.). TherL' wcr¢ ill) maictial departucL frl1 ()1 fLnAn¢￿1 %tsr¢in¢nrs in o)Ix&)tstiin' tlJL 11.-]L% l(Ir SIIF..'% Ti4iur¢s dii l)t iLrlAtsI irjtical aCCi)iuiri1ih￿ eri[r￿tL'y, liK￿Fe[nVnts Jnd 3%%uwtinn% Jn priicess (>t 1ppI!iJ4T [I)v ACC(>lliifiilll I)(I￿rieN '11￿5 inai Itecr IliL' ILTriirtrd certain assets ￿ld )ial)iJiii¢N il)t rcp)rtcd aJll¢>llllt% l)1 IllLIlll?I' .'Ill L¥l)riknliture% dLlilSlh? rh¢ r¢p)ninxpen(xi..4Jth<)vxli hc4r r%tii]12te.% are Illi￿gr￿[￿lIlf'￿ l)L-r LN)%￿ll.￿lRe, acttiHI rL'Niilt4 c(>iJcl thff¢i fr<)m thi)St &%tinutL%. In the pr(Kes% ()t 3PPilJJ4. thL' aCCI)llAti￿ pi)]SCitt, Are& iiii'i)liiiIk￿ luk4ier de¥ree i)Ejud%uMii orconiplrxJTr. 2k%iinJpti(ML% estiJT]ati()ns ￿'1￿Cli NlhryyI-￿lnT l(> rli¢ Iiiuiicial %f41TL'lI)¢Ilt% 3rr nijte 5.22 beli}'&. "IlIL. lllLiJic￿l %tatL'mcnts arL' pre5eBtcd in Lxartda %hJilJw (UG.Kl. the Ci)tnpai)!"% tutXCIi(iiuI cl￿reJ)C!.. ri)iindtd t() rhi. i)Lre%f %hillinx. 5.2.2. Significant Accounting Estill￿te& knas of JuOg¢ments l.'%llilLiie% al)LI jiiLlkFrnwnt% ar¥ cc>nixnuallr eval￿1¢(1 aiJcl Ar¢ ha%d Im expeiiencv ancl ()thei Th.ILTr'aiJT Encr(Ir%. incli￿1$1)￿r LIKPLtstii)JL% l)f tittuce eveAL% d)ar are I￿71e&￿IllI] Ix. rr4%lJ1)ab￿ ￿lder IliL CJfCIIIII.%L'iiice%. Critical accounting e61imate& and asSiTinptions The C"(xw)2Jii nthes e%tin]Ates and assutllPtilML4 u)ncetnink. thc ftutu￿. Tl Lesujtllix acciJuJitsnK ￿nI￿are4 aiid a i4YutJcAiit EL4k ()f cauNinx a t￿r¢I1￿] a￿￿%[n￿nt ril rl¥ carryi￿A￿VIuAt.S ot aibeL% bal)iLitiii wirliiIX FI￿. tllk111¢iil di%CU%%cd ￿1<￿￿. l¢l.ITs-Tlw C.i)mp3m is %iilJi¢ci rr> %IM4ulicAnt aEC ￿{1￿11￿¢(1 In 4lrtL-rmii)154F Yh¢ pri)Tr1%1()ii tm¢ taxL%. 'I'lx-re are traiL%Acii<ins ancl ¢alcul3ri(711% 1<)t Ii'liiclJ rl)L iiltinlote tax d¥rertn¢i?#u(>I) LS urttertaiji. The C()ny)ani rtC¢)Mbnises b2bibiies tr)r rfl)IIC5PatYil l)2NLd Iiil r%fii)uf¥% (>t wliether Idditl(>l)AI wll l)e dLie. ￿l￿re rl)e hnal ia¥ ()iirc(Nn¢ (>t rh¢%f IJLl7ttts Is di([e￿Ill triin? rhL' Amr)1i1i1s tiiAt wL'r¢' IriiuiiU!' rLr{)rdt￿ s￿h dittp. an 3ftnuAI b&%is. rL'4iillrL y%rim)ti1)51 rhr atnnurt% that ate wrec(>i"erdble. U5ffiil/iws 0]￿l&-D￿e t¢> tec1￿￿£￿1 nature ot the CIMnpaiiY's a%her5. 4l191k9hwneiir u%L'hJi Jli.¢￿ ¢)11 h￿t￿(al bt.%t prActice Jn the %ecir)r. The R5signcLI ilb¢fd iThts have a dirtct iow%cr nii ti]L' annual a[n(￿in1 nf ¥ii[Eitru<)n <)r c￿￿￿ed tn the capital tund.

l.&r..In£iA Gitth¢rn"Alj(>fb (iT) IAmiTed Audit Report atld F￿LIA1 For th¢ FISC￿ Ycar Eud¢d 31 Dtcc￿b￿l 3) Critical atea5 of judgement i) L%tin¥ire. iiMlhrment¥ i)r haTt len madv nr Jdentifid that l)a%'¥ %wutJcant n%k lif CHiLsink' InarrtL'II icljiiilTll¢nl% tc> rhe ¢ott}Ing affltTrunts of th¢ kSrts and bat)tiinc% thltllln thL' Ilrxr fis.cal rvar aiid iii) rtinent% Trrre ￿Sed ￿ert appl%wK t]￿ acc(ii]rtunk' w)ii£icS iji tiiv i)tcpaThriixi iji die fjiiaiicthl 5.2J. Going Concern I.liryJihr Clinsidered Ilie CiimFAn!d5 ￿tt)re cash li)rirasts aixl s¢rar¢￿. tl)L dir¢cri)Th ¢(Int-llni ri)ar Il)Li" IUK'L t1() n7ale￿Il im￿￿1>]1111￿I #￿XIt the CJ)tni)Hni'% abjlity r() c()IlllT)ue in ¢)peThLiinil L'uNILtICc E()c die li>tc%¢cAI)Ii' tiiiiw¢. ti)iithlilL' r¢) beSicYc c¥mcern Iwjs <)t 2cc¢Juntiii¥T L% aN)r¢)priare ￿ iirtl¥Af111K a) Covtd- 19 Pandejnic XliilL' thl ILJJpAcr iiE thL' c.()I￿l-l9 Vin￿ has l>!- tht dtrctlir%.-%Tr t%r rea%(}￿bIr p()4sible, cliiL' ri> IT% iiiiprLcLcI{'iir difticulrtt>eTr-AliiarL' ￿ltI1 aii!-L¥tfiiiiiri- rljt. Ilii die Ci)mpan!- % fiLll]te reiTnue SIrvaa￿ parti(iaarh- thL' Rljshn. pi liJii?mt. lIf)￿.￿¢t, iakn)% it¢> Cl)11sl£l¥rAti¢)ii ilie L.krnn(lan rr%i)Ilylsc and tlie Ci?tnp311I'% pknniliiik, rh¢ dLrrcr()rN h¥i'c * rea%i)tkn1ble expLcrattc)n tbat tbe Lows c(IAtin￿ Ill 14JetartsMd u¥ibt¢nti tbe t¢)reseeablc tuture. bl NegatRve reserves it￿ri. Ll'e %harehi}Idets' e(PiLr p()siti¢)n iii rlie Ntatvmthir ill Iiixil)c￿j I)11￿1￿1)I1. icli J I)#￿Ilce iiiii)be rlJ'.It..l ilitniiati!- IIA¥ Lllairr￿ a£icl iTrr acaimtdar¢(l &iJuT% ii'hi¢'li itrll%rt tlir re%eTh'e% Aijd tlx'r('h)rL' IM. rcttrcic t() thL' ('(?[n￿I7!"'￿ i)f tii)3naal wJMrJA OMknoc¢ %tKil dare. the <)f rlw Ciimpaii!. (k) i]i)r L'¥cLI￿ TI jfL.￿￿￿e ijt it cli%ttibutribIe atyl un-distrilxllable ￿. It a ￿)rn[￿, iri re])IilUl)kF iieuryully were [() h4Jiiliif¢. iT% %lbir¢lJ(ddvt% Wi)dd pn)bJbl!' tcccivc trxchaÈ4be E¢ir iheir (>nkiiiAI Jsii-y4rrneiiN in tlie Cl>mii:i]11-'% %l)arn', Ihniihpli rhis depe￿1% how much thc u)mpRm can em IM. %ellu)kF ir% renuiJiink a%%etq and 'rrluikl all!- re￿￿￿llA% ]J2bJlitie>. l)} illLincitil ￿]￿[1-￿tS.1tsh()ll1d be Aoted th14the ct>tllWdnYLi ]n tlie rAmTrL4) sia.4r.#i)d ￿￿￿tIl- T￿lIlli)h￿ LiJiJtrail% 111d ¢%p¢¢t#nt <)t tijtilrr pN)jrct cth￿￿¢ts. DL￿lI￿N [￿1¥ !YAr. th¥ r¢)raJ li#bJh"u¢s cxc¢Ydrd dir b!- LG_K. li,433.931 lJJ?U.. UGX 29,Jl)8,0?31 tIILl% itcatlijhr g %harrlwJiders' e9iUTh tIx' NThfL'nx'nt lif iY)4Jtsin. Ib 8r 31 DL'cL'ml)Lr ?O?J.therc' ais()a nwitYL' (￿ircL￿clI[lI. IEil)iTrin- i)(ISJtyiiiJn dir Ntati1lL￿rfjt ￿]finc￿l p(>&ltiiJtl i>1 LGI I?yI)YI P020.. LGX ?4.707p531. Ili¢%¢ ci)iiihti()IL% JtM]KatL. the exi￿re￿e nt a ￿Trate￿i8] uncerrAJnfj" that t￿1"caSt5]F￿Jfi￿nt{klllbral7(Nir th¢ Ci)mpAm % '￿￿. ttiiknJi¢thl l)aVL tI)ttrtcJ￿ ptq)ared ijn Ciicen) and di> Ili>t iiicliicle aii!. HcljiLNiJllL'LII dii iJrkrlili4lDi>tl L% l]nabk rtl CmpaA!-'% abijiry. T(} Cl)Iltinut ii) li￿￿￿￿￿>1]￿l eYLsrence t()r tl)e 14>res<el)le tLinwe. Ti)eF Cnnftni￿ tn beh.eir the w5118 C(1iicLm <)f a¢¢(>unti11X i% ¥i)l>r(>priifL li) 1)r¢ptrJrt￿. i.2.4. Ptoperts and equipjneni -¥1 cAI)It..Il Ciknts <)t L'CY_K l.(KK>.010 ijr mi>te ate cawra]ts'ed and ¥1Lb￿41ltrl)tl!. mea%urecl ar c<)%t Iy%% AcciifftiQHrvd dei)reciqti()11 aiid iLnpAirmvnr .111 ¢>rher repats% 1IKI tnaiiir¢iian¢r ¢i)gT% arr t¢) rh¥ inciimr Al)J LPL'1Id¢rn￿l clutiIJ% the Iw in which rJM" g£e iticutttyi 13

CIML&erwAiiuu (L'I IAmited Audit Report and FiTrAnciJlStstements Troi the Fiscal Ytat 31 Decembet2021 r)e1)f￿￿)liT￿7 i% calcuhted t¢p Write th)wn the caminx value f)f all dcpteciahk. rAnpbtr tLTL.d aK%1.￿. i)tlirr rlixii ftL'el]i)Id aiicl mad() land atid a55¥ts under cnn5tnKts()n (capital w(>tk-iii-pr(¥prttKNI. ()Tr-er their ewectecl iJ%efi ct)n]￿ltL'rs Ii>r(>t itliiclr 3j.j ti Asin￿111. l<)t(Ir YehLdLF hinTh'rr i)f tliL'ir c(>4t ' l<ir iht esfsmAltd pr￿￿15r ot wxd¥1i!i1￿. lea%e PArineIitsl a￿1 d￿reCJate(I nver rhc %h()rtrE c)t ILil¥l' l)r c(Inttact 31111 L'stitjuted ￿$¢fi￿ b-ft i)l..Iie a%%Lt frj thr C41rtJpati!'. .Is%L'I% Ln th¢ c1)L￿ l)t Icwtsl work.in-prnxre%s) orc IV)t clepr¢¢i3tccl. LT￿)ll C<Jtnpleti(IIi nf rhv PLI)jL'Ct. rhL' occumiilatcd Ci)%1 L ty3iL%ferred tc) 1 appr()Pll21c' xs$et catekty)n- where ir is IkTrreciareil xrr<)rdi¢iht fc> tIIL I)()lia' ()ur abtive. liri¢ lact()ts u)ditrArL' thar th¢ rc>idu31 val￿$ ()[ usetul ¢)f tRnxJhle i%%fv trta!- hgl'e cl)at4ped, a reiryew Ix. Cli rni'd ijllt ()f re%Id￿L i711￿.. (leprrCi?D()n Tnethc)ds and uqttui livL'%. aLid tl)rsc ￿. aznri)dcd it IlLie%%.In'. CliillihJCS JL'precJ3lthMi aci%ioK (￿)M this are acc[￿111[ed f¢>rpro)%pectiveh' I>S'L'r the retnauiinkj UbCti)I 5.2.5. Inxpainnent of Don-financi81 as$ets -.1 r¥i'l￿￿' f()r IitthL￿t￿)rS ¢)t iTnpairment J% ¢arri¥d i)ut ar ¥Acli repJrrtsiK. Jare, wiTh iliv recI￿.e￿I[jji ilTH)Illit l)rli)11 V.%rJii%iri'cl M'IIL'fe indKati)ts L'Lxt I{￿ a&%rt Ii)r xr¢Jiii> ijl [c￿rea Tvrmed Ca&li Liut£C.I.'I Aiicl c(billl).'tr¢cI rlie inM)Iliir. Itbere th¢. ixiiK ¢XCil'LI.% tli¥ [¢ci)iYral)Ic aini>iiiir, tlie i. ImpA￿Ld tttri)r(bn%fv. Prinr ￿Mi)Rin￿lI￿ arr fijf p¢)b51bie r￿￿£￿#1 ar vdch rLpJmnx d2r¢. All iiJii?iiti)u'iit adjiL%tnwir% are acci)unted trjr in Hccnrd21K¢ Iiirl? tlie IFILS ti)r SItE5. 52.6. Ca$h and Cash EquivaleDts CL%h iilLI l)Rnk bal8iK¢b ryre%thiT% cash ￿ h￿ttl aEJd dtP(Yits ￿th tJitync]al iii$ftnitiT?n4 r(TAI'11)Ic mryti1¢￿t IK'iiIITh' iJIl IJ()iice r)t tll)r m(>rL 24 h()iir%. Casli ¢'4iu%'%le])ts aTe l]ikpi]Ir JJ4tiiLI iiiJ-e%tiiii'.i)IN rliar n]aiuri- Lll 114) rrirli Lll%iW)ificanr n%k i)t rhaiixe UiJlesi bprfiticall! state(L there ate w) Caih and ryuii7]eJ)t b2hnces hdd h!. the Comp8n!" that IN Ilrit diiiilRI)k t(&r by the C(•n! beca￿ ot. ¥)th¢r ro'%iMi%. tc)r¢ihiiJ cxcl121￿[V C¢)l)tttiLN, ()r lekul 52.7. Receivables and ptepaymentg R¥ctrii-Al?le% 4iiJd prCJYAi￿¢￿ts ivirh stata inft'ri'%r rAtL XtHI trcci1￿l)kn- w1rlw) i'rAt. uutiilli- InL'ii%Uted 41 rraTLNcfiiiii pricL'. le%% [rAd(- (bSc()￿}rX a￿¢ tfflwdirnr. tnJd AS nr aclrances rcCLtwdhl¢ Are ml￿Nilfrcl liliti￿1. at Iwr i'..diiL, iiet i>t Iratisicnfxi C(>%t%. anLI are %iib%c4u¢i)rh- ar cc)%t IL%ilW ihL' etfrctiiTh iiirrre%t Iii¢rliiiil, less &iJl!' uriimirmiiir ()r pr()NiSAQll tl)i thJia)rtiil ￿br￿. 52.8. Payblcs and provisions for liabilities Pa!-:il)IL'% aiid VTh>I1%111JL% are ¢¢c1)WIL￿ ￿41¥re C¥iJnpanr h&% a ¢)hbSQU¢)ii r¢%iilnn r tr<)In a pR5r Lvent rliAt i?rt)lYAlIl!- re%uir iii rhe (It hincL% t(> a ihird patti. 2JiJ tlic ￿n￿)￿7r due i(>.rrlL the (Jl)kKati()ii cali l)I' Illr.'IKiirL'cl tlif r%tymated fchabl!-. Paiablrs and pmTi%YVL ￿ n(mTralh- rrci%ry)l%=J at Tlwjr %rttl¥invsir atnnutst Ifr<'r all{l￿.11￿, t(>r All!- rrJ£l¢ Qi%C1)i￿1[s dijy. I Itlier tlivi￿￿oi ttsibi]iti¥%. ii)cludu)L bank Iiyajts Ill a%i!'l. A TC ftA%iireLI ￿lItia]r aT tait l.a11￿, I￿r i)t ttaiisacri(lli c()%r% jlilil Afc JnL-A%i1￿a %Ld)se4uetith' ar amottised o)sr iL%JilX th¢ ¢.ftcctll'¥ I1)￿r¢￿1 Irt1)i￿. T]iL' IirEi<)Iitit t¢f¥)Bni%ed a pr¥)VL%kn>n the IxsT rslitnxtv i)t the u)n5iderdti(ffl nxiiured fn %rtde rhe i)IL%¢'l?t Iibbytjijil 31 the ttid<)t the [L￿}Ear. trknngirtr(?accrnuit th¢ 111x1 UJlCcrrAinrie% %ilfri)widiiix Ili(. ()I)b￿lI(￿L].

li￿￿[1d￿ CoJJ5ervAtiuD IL) LAuuitd idit Repkxi Financi￿ St4tement6 F()r the FiKeAIYvAr Euded 31 DE(eth￿21 IIL'fL rlic ettecr <)t rhe tim¢ vali mt)n¢v L% mRrL'riL thv ￿￿)￿%1￿ ex1￿Lled iii l)¢ trqiiirLxI r() SLrilL tilc iJbliMqiJ¢)Il J% fcClW?i%cd ¥r pr￿￿[ w3]ue a i)r¢-r￿ &iC()Uilt rnt¢. l1 Un￿1￿￿114¥ ()t die di￿1)u￿r L rLCllllllTrL%L.J a% a t]￿1n¢t ci)st In ()t JilCi)mrs Rixl cyndimr(' ITI the PL'ri(MI IT anqe%. 52.9. L¢8es LeA%¢% iFa%%itieLI a% finaiK¢ Ir#scS whenv￿[ thr t¢rxTr4 I)f tl)t trai￿ter SU￿.rAn71ajIi, all the %1)d r¥wiTIL% ijt iJiVJIL'r%Eup ¥￿- lea%Lyl L45er t() the Ctbmpap1-._4ll ijther cla.%%ifi¢J as <)pcratsilX leH%L%. tirnlb 411>1)licable {JperAiiiw 2re charged N) nr eTpLYL%¢ 2 %tra¥ht-]LLie b>%L% (Jver the le#Ne RL'iitrAli paid uniler ()PerO￿l￿. kn are cl￿d t(> Tl 5tAreillVllf ¢)n g %TtaJ ltttll. ihe reiirql Pa!-tnesit￿ 3r¢. ti) inctt'a%r Lli Iini. ￿1$)7 ¢Npr¢ttJ M¢ntrAI Infianiin. ￿ ￿l11th Cl￿(. ih(' ('.Iiinpkftr rL'C()k>AL￿'% TrnniLqI ri'nt e41ts1 tll Amoi&lllTS ifft'ed rii EhL I(.%￿)r IIThLr(' A li'a4v i11cli￿liS1S[￿- stei)ll¢il.%chtilidv IrArher rl)Aii %prtrAdinR the tr)ral Clist Ibl'er r]￿ penixl [bl rliv IyA%e!. ThL' benefit (IElease JI￿entiveS Js a% a rduciinn ti) the c: TL'riIl i)Il 4 èrr414.1)r-kn)¥ bas1%. reco￿$ed fiver tliL' le&%£ 52.10. Financial instrnments -rhv C<)tnpRllYf)n]Y hab fit]anciala55ets at]dfiThan(]￿ bAbth"De% ()f alond tl)atwdi't!'3N l)#¥ii tinAncil instAm)LYirs. Bi%lC lJJLlJir i)ljjÈ￿￿IVl. elrideiite i)t iiftwAir￿￿n". ectii'e yiuilen¢e (>t w)aiIiiieJit l()InJcl. Ijl liJllJAiIineilt rvc(¥ilj%c'LI iii rhe sthremtnr É)f ('nn)pr¢lnswe Inc{M￿. Ftt)Jiic￿l A%%et% ?iid liRbi]ities Are ()Itset the t￿[ atWLlllt rew)rrLYI tl)e Ba]#ncL' sheer ￿h¢ll rh¥te 1> xn tiil()rtcalJlt r4.1)I f¢) s¢t i>ll rh¢ al￿ is ijiruirii)i) ri) %L¥rk (xl a Jr l)a%i% i)r r<) r￿li%¢ thl ailil %ettle the ]kibiliTh %Stnultanen￿%1Y. 52.11. Taxatio ii) rhariral)IL activiliLS a[￿ ¢￿￿e￿ in ynt¢'￿tL5￿ OCtiviti¢ ii? pursuir tiii pr()hri (>r plliafL' ts)knidual l)yJvfir Iii'lirh w)ulcl hxve len r¢wi[re(l in(J cb"5cki%ed >eryAfAtvl!" PT¢)tiT sv~ki1?kT a¢riiitie%l," iTrhJcli cviili>rtlLb tii rlit. rL'IiLufLLIIL'iir% ti)L eTellJpti¢)n ttLX &4 drtajknl ￿ kctmiii ?Ibbl lil IBI (il rl)L' Ii)Ciiine 'l-ax.Icr (Cai) i4(11. ectii)ii ?(bbl (J) (Bl (if the Inc()xne T2x.Ict (Cap 3401 detuies ¢)r E¢)r die JArerpreratii)n (Jt-Al1 ektmi)r 'O)bl 'L¥¢mpr (}r￿lUNAr1{)n. In￿[￿% Hi}1 (i)¥npan!'. jiis1initii)i?. ()r iTr¢i-(KHI)l¢ riiisr- l..11 Ali Trfiiateiir stH)rtit¥ AS%lXiati¢>n' (BI Iw"nu%. cknrable eAiJcatit>TrA] illiEirim(}n (>f A piiblic cILItAifcL: i)t ICI IliJJiTril, cwhi)'cts' ass(xJaU(>iK ail c)t cmi)hJ!'cts fL-XJST¢fcd Xi)!. kn.. LT￿￿1￿la <)r an g%%¢)CLHlI[In e>nbb%hed tiir the putp>%y i)t" prt>fn()llt¥ far[rlli￿ tnLi)Lnx, tl)Iln%174 LndniiFactiiniix? ¢>r ciin]nierce ￿]d i[￿u$[LT in Lgalld& (ill which lyas kn.n issued widi a ￿￿l￿{-ll Ll]Ju4.1)!' thL Cr)imlli%Kii)Iwr iiirttr]Iil!' ti)rct 4ratii)M. dyAr it 1% aji ()￿ni¥911￿M4 liijl no)rte tjt ￿l¢￿In (>r ah4¢1% ()t iiFo¢l) ()ii(¢r%. Iir ￿￿11- c()nfer, a prJ"JAti' txYiL.fir (In ai)!- peN>ii' SignificAllt Factor5 affecting tsx charge for the year 'I'l)rr￿ n() tatli)t% tl)ai 3ttc¢tul ih¢ rax tha￿( 1<)r thr !'faT wi)itli hag l)tt-i) ral¢ubted ()i) rhe r41¥171)l<' pri>tJP* (In ()ribnary acnE]ties bcfl1￿ Thx at tho %tafL(lard rare IIE inci)fi]L' in L,Apaiida ot 311 12U20.. 5.2.12. Foreign Exchange The Ci}Inpfin!"'% trLuictsihJuI And preselltatioJ]al currencr i% Lw?da 41]JUiw WGII.

Lt>J¢ThYliuD IUI LAmit¢d AEith¢ FiJJancl￿ FThr tkl Fisul r.nded 31 Dcccmbet 2021 Tronsaciiotts atsd balances I'iirLikpn ￿ur￿l￿r fL' tran%Jated tsit() tWlCti()nal currencr usinx rlie &p(>t excI)a14￿. ratL-% tlie dirLS ()t the rmJi%acti¢)ns. Ilr Lacli li%cAI CLid Eotw cl￿ nmmetarr Ite[￿ atL' It￿1#red iLSi1￿ d)¢ ck)$l￿rar¢. unl¢$$ a r()nrracr¥d rfiTe pplies. N<)11-ITrlOi)eraLT iTetns ]neasuced at hi%t()ricg1 cc)%t are [ra￿$lated usinx the exchanL￿ rartr ir tl)e (lare 'È r1￿. irnti%attsiiil Ajid 1I(>rt-tni)J￿ta￿- irrftL% m¢%uTcd arc tilt txcIui4r ratt 8lr I￿[1¥. ck.rL'rmined. -yur¢L' <)I' tl?v fo>reJxn tatL' ￿chan￿￿es-￿ul{)Al. tlk¢ C-(ImpRnT the datir rraiL%dCti(A) cl¢dhiix rnre a% achi¢J l)i' klii. 172iik% (>ii rhe clas. 1?t ttaiJsattts)X- Fi)r ani ¢)rlier tm]L%aClliML ir tlie daih- [￿J.Th[r eXil￿A￿e$ tratL% ￿1￿1&l.<.￿ the Ugaiitha %hillinx and the n¥j(>r l(>rcixii CLirreiicJes xb pul)htslMxl b!. rl)L' Baiik ()1 Lki2JiLkn Jl(iL'j lilik￿￿'.1 ci)Jitracra Lie apphts. 5.2.13. Income Recogttxtion -4ll iiiC¢)tne 1% (mce ￿ C(mJpanF has ittrsuKahlc LY)titknYnt tIK I¢icITrn￿. IT LS l)T¢)i)able rhat tiiL Illjiiillt. Ix. rvcvLY¢d and rhi. afflt)utJt l)t inc(>me Can I)r nu%uted rdishty an(1 %Nxihc crirL'ria havt l)vc'n llivr tiif LicII i>t thi. c1)￿n1- s Cli%itie%. de5cnI￿ l)cl<)M-" DonarAotss-IllJen Iht're is re3sollable cerrAintr (IEirs i￿tinu￿r rrcvipr r>the￿ik gctual ieceipt. Grants and simil¥t assistance ￿ether 'capit21' or 'TeYenue' grants-￿'1]L.]I tl)¢Tf i¥ r¢'a%(JiixI)Ic cerr2inn' i)tr its iiltitnati- rr¢riptA[￿ Ili>t &i'rr."t(I, ()IIi¢rK￿se iiJl:IcnuI ryit'ipr. CipiT9] Ltyiits are d¥tirred Jd m¢Jnised iIX iwth Ikptroariim lsver tlJ¢ h"f¢. f th¢. a%%cts tl)ri)uxl? rlir Cal)itAI I'ui)J. .411 Jnci)tnL- trcc'ii'cil In %d%?zic¢<)I piAiii)rJ aCUiifi¢%' unpkillrllT4ri(>n ate ttearecl as dL'ferred itic(>tT rrlLR.S¢(1 t(} th¢ 5114 fL'nllt (>t anil e4)enth￿re fr>z the tL￿al wh￿b the re]artti aCtiVilic4 ary. Smnlen￿llttd. ?.2.14. Expendimre '.xi)L'iiilitLift Jh reci)w￿￿e¢lI)I accr￿1> as inttured 1￿CluSI￿.L. l)E ￿[l'cl￿VrahIc iAlii(' iilLlI-d ra_y %vl)vre applicAI)Ic'l 41% 2% th¢￿ ts Iwal i>f C¢)rn%rtUCti&Y 4)bhkidin(>ii c()nJmiriin% Th¢ C()mp￿1￿ rl)ilt cxpcnthnwL. It 1% i)t(Ilytible tlut %¢rrleJnent ￿ryU ￿ [￿ll￿ed. rhr atrwiiii]l ill ¢)l)hkpAti()i) ca¢} bt r¢b?l)li'. Allocation and apportionmetsi of costs Fc>r tliuILI￿ rLtM)fDnL' putPl)%L% (￿t4 arc intt> (lts¢cr chantabie PriN￿arn ci)%t&. C()bt% ()t '(>liiiiPA Th" Iiic(>Jne ¥ri)venunct l)r Adm￿￿$tr2[t1 C(bSt% head% br dic dweci¥ir% Mryixivil b). priilrNiliiiial Alft'AtI!' alli)rnTvcI direct cl￿r% o)r the ()f %tatt ￿ tliL ￿11t. 5.2.15. Employet retireJDent benefits .0 ¢>t the ti)4>1<)Fee's kf<)%% mnnthiy sAlan- l¥) rhL X%%F i%4uch i% 211 11?Ilcpesidcnf ital?li%hi4eJif iii)m .') $th¢n￿ l¢>r t1￿ ￿n¢t11 i)f Jts Ci)ninbllTiims ajr reciyw%rd #% iii expvii%c iii rhe tL4cal l-e41r iii ￿-hiC11 rh¥i- Rri. incurrril. -I¢rtnuJati(>i) b¥iietits tec1w]￿ed % e4xnsr whrn a 4EcrAik+d plai? f(Jr rht trnniilaiiiin hA% been IllJ()Iinc¥d tlj rhr ¢mplii!'et% alttcred ate I￿￿￿[¢d a[ ￿ ¢bll¥tiarL'd c¥PLi￿1nIrC rLNwiLiI fr) %rttlr the ¢)bbktyti()ns iir the r4)()rnz¥ dat¥. Share Capiiul -I'lit' Lr Jinp#ii!' is linutcd lkn. kruarantre wirhc)ura capJra_ Each fneiiibrr accciiis i<J CiiJirrilJiiiL sucl) '.ls [N!' hL ri'4Lurul n()t ex1￿1￿% bGX. IhLI' A￿￿￿)i) <)rdr) iji thL (It rlie C.(b￿1PAIl!- beii]X Wjund up whjle hc. she it k5 a i)T tsi1kn11 1)ne atl¢rward%. Is

idit Report attd Fi￿1￿15￿￿1￿￿llts tsr tILL Yiar Endcd 31 Dcctmber 3)21 CornpataiiveJ cffi)rr may been ma(Ir ts) nmtch rear ¢x) I'￿￿ hk¥ut¢s. ￿)me Liieitiralk r¢£l2%hil-Kfini)i)% 1114 ()rturrtti that rnaY#ffect the p￿CL￿e u)W4iJll ¢)f hkpu¥¢¥ iii tlie airtcnt ts%caiyear￿th thi)%e in the prii)I Third Porty Payments P.i!'mL'lIt% ffiiidL' t<) iYnd(>(s di￿.clEr bt the d(>nt)i (If aiil'l (>ll I￿1￿]1 i)f All!. 1)t<)1￿LI l)eu4t slilplvn￿lIrL.￿ l?i- rhi. CfiiJll)Ail! ifc t¥C(N>iii%ed ajid iiicliidrd T1￿￿1¢￿)1￿¢ Ir¥(i'Ji)f%l aiidappriipridrc iy)¢iidiiurL' -lkn" Ls all cl¢)n¢ ¢ikurinx th1 rhere LS JK) dDuble accfKiniii4'. Contingent 988ets. ¢ontsngent liabilities and comjnitsnents 11i1'r¢' arL' n(> c(Minnxet]t a%s¢r% al￿ ar contsn%ent b21)Jlitr% aXL%JÈlk. fTr)m ei'enli (Kciwri¢¥ Ixli)re tlir eiid ()f ri)e ILcAI fL'lli)nii]x peDr)d. WI￿%¢ L%istence be ￿lAt￿l￿.d IpJdF br the iXClJtt¢rt¢r lit n-Liit% I￿r wlic)11!' wiiluii ( )tliL'r thali thL' babiiities %th)ThiiKa in thc finarxiAI stsre￿i¥s. rI￿re arv iyi o>mmiMncnrs. Relad party ttansactio DI￿ El> the ()t th¢. Ci)mpan! N (I￿raU()nS 2nd rhe cowitirjn C>t tlii B(￿r￿. Ixdijik dr?￿11 tr<)tn Ii)cHI piil)IIc Aiid 4rcf()r l)4uri]%gti<)ns. kt L% ￿￿11[￿b]r Ihai traJl%aCtii)its iaLI' pla¢¥ iVLrli tiititie% lil wlllLI)' nlL'ITJI￿r IIE rliL' B()Rnl mar h8Ye an inrrrtsr..4ll tran%ac¢i(>tL% il]iY)liiiikb enritlcs Iii a znfnil)L'l- (>t tl)¥ IliiArcl ma!. h2i'c infL'T¢'sr atL' C()nducted at arjn's lejwh at)cl in #C¢lTTOan¢L ￿rh rhi. Cc)tnp?iir % fiiiAllce Ai)Il Pr(KI￿e$￿vIlt i)r4￿edUre￿. sucli tt#nts4¢1i()ns were Lltentifid m the cutta)t ijr iLt iiiilesi dvraaled in rlii. i]¢)tt$ r() lh¢ finnctHI %rarc[￿￿￿. rL'iiiirriii% trAii)thw)rk. Dirr¢ti)r% art(1 rnLsree% dn nr)r rcccll'r frillllJlefats(>i) 31)J iiX¢'JYti¥% uide%% eiiiiilf)!-tL% ijf rli(. I'l￿11P￿￿}-. Detai]s nt such pa%m¢iirs and r¢tnknutrreffteots {as a￿] applicbJe). -niL l-1itnPIII!- 1% R c()llection o Prnjects. ,I12t¢rJal jnr¢r(l¢￿￿cl¢n(1C5 hemyen ihe C¢)nipaiJ!' Ailil it4 lJ¥iJji'C tL%r A%-.I Cijil￿￿U¥nCe 4)1 thi% r¢]Ationship. F¢)rrLW)rr4' pwp)bes. Cc)ttJpanF and tl)e 4)rhL-r PrwL'ct% AIL. n(?r trL'atL'd A% ttlateLI partr%. Except li) tlit exTrni di%cb)%ed in 3 cheth]le (It gArl tn thi% rt(bre. fvre wtte nt) trAIL￿cli11[L% rt> lif kr(Micl4 81)¢1 ini?IliiiJx krb" t[￿nage[nent petsnnnel a]iJ or ftsc>l !-fAT-rnJ lyaiances arL%iliX %iich trAlltsaCriI)n& li)I'iilvtA relateil P%￿leS tbr)se rhe CotnpanF. Average number of employees 'niL' ilTr"L'rAMpi' tni)nthl¥ i)t ¢try)k}ri￿. indu(h"nR %a]aaed (brvctr>r%. ¢h¢' tL4ral rur 10. Events after the end tsf the ￿nIng petiod rv%iilr i>f t￿% L￿.1]Ly￿11()Q t￿￿L- arL n(> materia] subse4tiet]t ￿￿-e1]r$ that rL'qiUr¢ Riljiisrynciils, cb"scl(l%iifi l)r IIAIY s ￿￿tt IMI w)rted tt[jan￿ ￿rt￿M￿lACC. i￿[ a%%rrs i)r chaiikT¥. ui Iiet a>%et4. 5.10. Re5taiement Iii tlie Srite]llriif FitJAiiciai P()MtyJn. the Rev2lulltii)i) rL¥¥D'e ()f.%hs. .74.690.(W LrJaTill% fr) vAl￿ti<)n c)f hillr LILPlfCliir¢cl lihiLl¥% %till Jji IL pfrVi¢rt￿r ¢spirnii%[ i'3liL4tiflil repi>rt Er(itll 4ualiti¢'il prljfL￿Sl￿)llaI(.8I to suppnrt rhe amcTriuir. Rrfri r() Notc ?.11 I)Y1J￿r¢I. aiicl F.4llij)n￿1lr aiiLI rliy%y cIIAIwt% ItsvL. leJi wnnen t() eapit21 f￿ld. 17

IJ%wid.. C()ll%¢￿￿tIOn (tr) IitDited Audit Report thnd F￿121 l.or th¢ Fi¥cal I'e'.*t Endcd 31 Ikcember2021 'n?¢ (.Ai>it21 Fiind balancc knii adI￿￿[ed Trith &prca41inn c￿rge am()witing tc> ).8_W,399 #iiJ piti)r QLIjiL%mithit <)f.SlL%. 971,5W to t￿r(li the pnJi)ern' ￿la ¥4upffleJiram(>unriJf %h%. 4.690.469 rii rli¥ CAPlf41 t￿]d tiir pri'wirani>n. RVIL'I 1¢) IXI)Ir i.14 COWtrAI Fwid. 18

lJ¥andA ConSt￿￿tio￿ ILI iimiKd Aiidit Fingncial Sttem¢nts For dir FiSLalYedr Ended 31 December2021 Receivthk$ 2020 Shs 5hs TrnclL' ￿'cli￿.)b￿.¥ 10.8i9 390 76.013.691 6Y.498.099 36.-,46.091 11,711.IX)o . PLL"tMTtnL'nr f IrliLt Rrc¢ipahle% (Delerred Pr()gecrC()sts) 11,84-,.194 5,17?J98 9,57? 168 Total 136,110,195 38,3(14760 Casb and equivaknts {)ti¢i)r Bank- USD 173.9r.8j9 ?0.0-,4,116 I.U??,370,047 (Al ??0,183 ~j.U•(I,-ia I lJl?,i60 10.849,IK)I l• j25,-6 34? Illl) f )ririir Bai)k- LG_ ( )n¢iit BoiiL. GBP I J6Y.179.4j9 Ptm. C.aNlI- L.SD l )r￿lI[ t>.Iiik. LSD IlperJti()t]s ( )neAr Bank. Lcjl l)peLHti<)ns I)i.m- C-aNlI- L'ct 8531.779 7.749.68i ?,0.￿1,183 1,581.569,962 T(b¢al 1,233.146,li9 5.14. Capiia( fund 4'IAc 4.6W,409 9,548.J39 971 PEJl>I )-c7r Adiii%tmeiit l.i9-.,8i9 j,8?909? 4,69CI 4(19 Total 3.iIYa610 L'.11?ItAI liKicl i% rh¢ CArThu)k (>t %rAT)t li) aC4LiifL- I1()Ik-¢ur￿t DL'pfe£iati()ii ancl -Irti<)riJ%11iCllI t()r tlm. li%ial I-war are clwd tr) ihL4 fiuNI ITM)r rhe %￿1e￿￿111 ¢hl- ￿lL1)I1)L Hiits e¥iii'iidittLte bciaiL%C' rhe rLC)ll-curLent under a d￿l[￿ble eft￿￿. ar¢ nc)r ¢wtL'NNlY and cni)%iunrJ tllT piirp()4L'4 nE iierAnl¥r InC¢>tnr. 5.15. Pyables -4ccLu¢J ..liulit te itldii)Idink. Ta '.ii'ri>ll li-Il)iJiti{ Toiai 6,.E6?.48¥ 8,71.fj.433 3.U3,63.4 li,IH-.,991 23.191.626 23,693,075

aDda QJDyrTvaiitbn (UI IAmited Aiidit Rwrt Stbtements Fot ¢he Fiscal Year Ettdtd31 DtccJnl>Er2021 5.16 Deferred tJcome 2021 2020 Shs Shs ?-,i.AllY l)Ji-r CillIl tiir I'l¥'.I QF. -XMldle.% IJ1￿ Rr.4¢5￿Ch ? ?1),489 9?499715 ?3314.805 -3.?56.90? 4ti,,.,, 14,?(KJ. (47 S.lI1￿-.S-pha$c._ iIO.4-. I).941 564,?6D,898 118,444,036 8,784,IlbO ?9.893.8?J 140.969,2iO 72.-?92.143 107,iD8,597 9.498,478 -79.Y)0,639 68,349.-$45 ?8 ?_j().tr39 Lifjll RLf()i-LLT Fifftcl -QE ix'arer Hi)les -.iLI,' QL RJth(>. t(N'rr aiml M?Ixi ItL%thllatirin ilcllilc. IL71￿￿tr I'ha]k.nxe,%upp)ti'. Jl )CC & DihFchl(L%t2tIL% ( )i)LfltiiJIL% %LlPPI)rr.,Ilurclii5Q5n FatLq- ( )i)eratii)tL% %Uppl￿￿￿ueen E]tzabeth-Rawt Furxl ..(2LlrriJ F.litAI)¢rh_Prt4ect Rat¥er l?(>ll-c'r, Rodi4)% aiid t()WLr Ini¢RUall()n-.IIF 9.498.4". 8 l.j.iOi41 l l.i84.6CIl 91 ?(18.60 50.1)49.4?.j 115.4015.168 69.i)3p81 14.Y39.89-. 3? ?148 ?19 ( >i)rtAri()IL%.%ii1Ji)<)rr.(2￿en Eliza￿[1)-Ra]￿￿ FuThl ? L'(-F,' (-( IXI.. ( l?tr3ri(iii%-IEf F20.(th1 rI' LC.F C()RE ( )perdti()n% SiiN)()rt-$4?Xl ()p(rilli(Mi% %iippi)tr.IIurckn'()i) Falls-Pn)iect Rsnger (Sc()llts) IL'(-N %( )% Ii(>ii Pniject .Iliircliis1)n I'HII." J( )CC. (j￿rAt1()n% [￿LI}I) (-()nitnuittry ProjL'Ct kideFH) J( JCC C.i)t)bIt￿lir)n Proj'ect I Is,￿8.94(> 130.)16.i3i 198,IHI.iii 48.658.3 69,810,41)1 4.9?().il(A 8-..46?.349 4 ??3?US I￿.1.35 ?96 Xqi(-_i -QT.:P.4 RL 3 I"r k¢!" %riiiiy Grqiir.Bubw" Raf)kYt.SMEi¢)Q ( )i)rrAr¢j¢*t i-r kr%. %riJnL..Iliwchts(>n Falls Toial L709.921465 l2T7,￿3,867 5.17 Income a) Re8triCted Incom¢ 2021 2020 Shs Shs Grants tJ(1,91".83-, ?06,406.841 86,69n.867 474,?93.9 ",84,814 -%¢A Ili)rlil 1SuKlI (J?r(ieJi% G)rt%¢D?ri(>n Fo)undatr)n ?.4?9 71)

CoDseThytion (U) iiwid kndit RtP()rt AJ]d fiJJ4ncial Stalemtttts FIJI f.Ih¢alYLAr Elided 31 December3J21 "lii%L-Iru%t Gr￿lts 678,1?4.3?9 1.926.6(K) 495,472.878 1?34? 13? XiliLiid l)Idiiztt)iJ'fLu%t 51,23C),4U 660.3￿9)s7 ??J.131.445 ?38.3-,3.99". Lil'.1 Cr)nrritsiiUixi% crrKs i7,40 1 J69 566 ?0.1.990 ( )ILL'iI.IIiiLTIRI'fni%t ?1 J8U.670 36.716,-411 7.713,-jlO 7 3 jl),660 11 914,11)7 41.888.003 47.93?11 44.076,750 50?88,480 g.!J6,4: j6,7?9 ?90 I)r<)r¥cn()n S()luDons 14.?th0.747 131.764J44 140.967 ?iO Lii)11 R¥ci)%'try fiu)(I 401,6ij.99.7 l )rlit'r RL'%triitixl Gt2IifN -'I'IL%k TnLsr I ItlTrL'r Cir'.Iiii Ii)ciiJTh -T￿N￿ Tr￿￿r ?(K>,O?4,841 58.458.963 11.8)2 3.450.149,629 I)IElii'rii L()uryail￿ TnL%r (XRT) ( )Ili¢r Re¥rncted Toiai gr#llts 2,899,821.040 b) Unrestricied Fwlds 0￿?8.(￿74 4lj 7jl.lQ". 12,-9i.860 11)6,-61,919 ?.¥3? 68? 10.464.liS j7.?76,918 P[I)jLCt.Ser￿(c% l)tliL'r Ki'tLicrLxl Cjtant 431.153.440 liirLttiafii)ÈbTri r.ILphant Fr)Ut￿￿(M -riL4k T￿l￿r Granr% c,1, C.Iiil5¥ThHn(>n -NiiLdiern L<)IVranK￿. Twsr (NRT) IEP/Gc.l￿ L1Lb Car Cijntsibutiiin 9.418.8(rf) I,j?V.IIOu L3.-i4,0117 793.Ollt) -IILmbtrsliii) -IIL.YliiAdisL' Inc()me .i95,430 <)th¥i Iiici)rne 41743,486 Total 780,222,687 717,183,143

Independent examiner's report on the accounts

Section A Independent Examiner’s Report

Report to the trustees/ Charity Name members of Uganda Conservation Foundation On accounts for the year 31 December 2021 Charity no 1087295 ended (if any) Set out on pages 1 & 2 (remember to include the page numbers of additional sheets)

I report to the trustees on my examination of the accounts of the above charity (“the Trust”) for the year ended 31/12/2021 .

• Responsibilities and As the charity trustees of the Trust, you are responsible for the preparation basis of report of the accounts in accordance with the requirements of the Charities Act 2011 (“the Act”).

I report in respect of my examination of the Trust’s accounts carried out under section 145 of the 2011 Act and in carrying out my examination, I have followed the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act.

Independent I have completed my examination. I confirm that no material matters have examiner's statement come to my attention (other than that disclosed below *) in connection with the examination which gives me cause to believe that in, any material respect:

• accounting records were not kept in accordance with section 130 of the Act or

• the accounts do not accord with the accounting records

I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in order to enable a proper understanding of the accounts to be reached.

• Please delete the words in the brackets if they do not apply.

Signed: Name: Relevant professional qualification(s) or body (if any): Address:	Date:	18/10/2022
	Kelly Chadwick
	ACCA
	CCF Accountancy Limited
	Ground Floor, 30 Victoria Avenue
	Harrogate, HG1 5PR

October 2018

1

IER

Section B Disclosure

Only complete if the examiner needs to highlight matters of concern (see CC32, Independent examination of charity accounts: directions and guidance for examiners).

Give here brief details of any items that the examiner wishes to disclose .

October 2018

2

IER