2022-03-31-accounts

OCEAN GENERATION (A ¢ompany limited by yornrtee) Charlty No 1139843 Directors, Report and Unaudited Consolidated Financial Statements For the year ended 31 March 2022 ABCQA434 17109ft022 CaYPANIES HOUSE 23

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OCEAN GENERATIOPI FORMERLY PLASTIC OCEANS Table of Contents Coffpany Infrffl￿t[0fi..-..........-.-..-..-.........-....-.~.-.-....--.--.-............--...--.........-....................... DlfeLtorf Aeport-...........-.................... ............ -..---.........-.. ..24 Independent Exthrterfs Aeptrl....................--.---.-.-.......-.-..-...........-....-..-.-............-...-....-........... cons0￿dated Ststemerrt ofNn¥Kthl&tm￿...-.....-.. COr￿0￿d￿e0 Balare5hett...-...---.-..........--......-.....-..-..--....---__............... .11 Coffpary Balartesheet....................... ......._.

OCEAN GENERATION FORMERLY PLASTIC OCEANS Phlltp Sc& Phlllp rrteJenklr8 Jo MOÉ A(¥•unt4nt HM C•W iAmltod 55 Athol Stree¢ lthofm IMI IiA Indwndwrt Ex•mlner Isle of Ma IMI 4LR ECIA 7BL Company No 06949511 thartry Rwered N•

OCEAN GENERATION FORMERLY PLASTIC OCEANS Dlrectorf Report forthe year ended 31 Marth 2¢n2 March 2022. Ottan G•neratkn Ilh•"Companf) i% a I￿4¢r•prO￿ tornpanylknlted arrfl not h¥14￿arry sh•re upA¥l. Memberf IlabWty15 lknthltotenpounds per rnrnb•r. Surplujfundsarn usedtofixtherthp )lff&olth•C4mpwy¥nd members ar91￿1 permKted to rece￿ bonwes Wlth effertfrom the 9Marth 2021 the n•rne otthe Cofflparry wasthwyd frorn Plosuc Oceansto o￿an GeAer¥tlon. Tht Olre¢tsrn oftheComp•ny •Fe itsTrusteesforthe pufpose Old￿￿¥ law4￿#¥0￿4￿9Utthts Ailleafv ferred toas e¥ther Dlre¢ltys orTI￿te￿I. ch•rItab￿ stknJ5waspJ•ffled on 13 January 201L We our ahn4 oblecri¥s. xtfftie5 Veèr. This looks at what we •cNe¥ed ¥rMI th? oyto)mes of our work in th• pre￿￿J¥ 12 month5. The k)oks at the S￿re$S of e•ch •ctMty arnl the berth thty have Iwou8htw a¢hlthowobJethv. rv•l•w aLw helps us oMuf• our obJecti¥es I￿1 aElrryth5 r•Nlned focused on our 5ttted purpostt. In ' p•rtlcukr, theTrustets pl•Nd a¢dknTII eorrtrttmteto thÈ•lms and ¢)blethe5 seL Dlrrtow5 who hekl offlce durlnqdyearweaskn. PNllp Stsles phil￿ Jenki Klfflejenkins Andrew C¥tknd Dalsy Kendrkk Audllm nolthe CoMpanlesrt2(K16￿I1l￿¥tQ 5rnall c(wry>anle5. Unknd Gen￿llY r maiiilainl￿ adequateacroynttrq recrffth whth di5do%wlth KtUfOV any tlfflethe ftn•n¢lal p05thn ofthe Companyandto ewblethemto vthuretl4t the lkn•rtdal 51atempnts compfywtth the G)rnpanles Aa 2W6. They a￿ also respor6￿e for safw¥dh¥ the assets of the Company herKe fvr takl

OCEAN GENERATION FORMERLY PIASTIC OCEANS Olrectorf Report for the year ended 31 March 2022 (contlnued) Thè 0Srèctsn present thelr Strawic A¢portforth¢ var errfled 31 Mxth 7012. Aal¥l¢leJ •ftd Athlmments ori ThÈcha￿ty was created In XKIY ty Ouf fouthrjo RuxwDto Qnable the fihw)4 ofthÈ ground-breaki￿ documefit4ryA Plostk Orean and to lead thè tampan a8ainst plastics enteriw the (kean. Translated Into 11 lan8ua8es. ViV4fed by mlllons ol people In over 75 ¢ounTries ar¢)uTh the tmorfd and naffled by Sif AttffibQrO￿h as "¢>oe of the most Important films ol our time". A O(tan thanised • erowini wavè of chanBe h tspos¥n8 the threat of plastic pollutbontotyjrhealthandthe heaiihof tyMlJ¢ean. Morethana de(adèlaterwearedellehtedattheOobalwoundswell ayln5t sin8k use plastics and that so many new bespoke NGOS and actw youps have Lyen tSt•bl￿hed to confr4)nt plastk mfjsust around theworld. Ilowe4ef, from ￿reXper1er￿e rn taltni dtrecily to ovtt600.(#XI 5th001 thlldren In 11 untrleswe reCo￿lsed thattsre Veryllttlefrnl education abourtheOceaTh in 5rhools. Th15 rneantthata whole nerntion ofyouniad￿5 wereRrowiryt upwithout basic (knan lactsrythe loot5to make a drfferencetorfdtr O￿aTr th￿al$. SO. in 1020, our ifPyear asa wistered charity. W￿de¢lIed totske full sto& olowsituation and layduwft robust plans for the next t¢n years coin¢th1i￿wlth the Unittd Nion5' own Decade of the O¢e¥n. Followlni an in4epth revlew. the kty dedslon ¥Mst•ken to rd•unth (￿anisa￿ undera new brard name with • rniuion to tsrkleall Otean threats tlthln a I￿er81￿. On 251h Fetr￿lry 2025. we became Ocean Generatlon, usvy our detade of twrterlce ￿ ta¢kllno plic harni tt+ Ifitrodu￿ • ￿der avdierKe to our i5ion of an O￿an freed frorn hum•n threats wr(hin a 8nerntion. Plastlc of wjrse rernains w of the koy Oceanthr￿•ThJ ** ¢Orfift￿e toadthess pl•rtiC a5a hhly¥i5ible entry polnt Into the ￿￿eT ¥wrld of Otean Ocean Gièratloii is an Inclusi￿ ¢0￿1 mtr4effiertthat èxists to restore a healthy rl•tJonshlp tr￿ManIty and the Ocean. Our¥tshM Is a worfd tlwetheOcean isfr•ed from human ihreats ttthlft a yneratlon. Ourfflbsloftls to ern￿￿1 8kb•l in¢lusNe rn0veR￿1 to tark Oceln threats throuth scrKe aNI Morytelllnl. In thts UN Decade oltheocean. ¢)urforys is toet4a8eyouns peoplein its kmPQrtaiice. Wetsryetthe 42% 0ftheworf￿S population under the age vf 25 •those hve5 will be m05t impacted by tDday5' OEean threats. By PD5ili¥ety enga8(n8 vouni people. we alm to fostv ? sènse of ayncy, leadin8 to tan8ible beha¥ioyral chan8e5 •nd a desire lor wllertive action. Np oldlnary NOn￿o¥ernMental Oryani5ation INGOI. Ckean Gerieration combines the dlsruptive ener¢y of a ¥0￿h lectl% wlth a decade of experitrKe In promotini Ocean artion throulh sdence. stortrIll￿ and ffilm. We f05tsr an In¢lysi% approathtOSU51alnibiltyto be a truE t4tystfor thèn8e. We ha¥• Ilve core ¥Je5 thataefin• how Yart: Grounded In SklencÈ Collaboratyngfof Chin Intertionally Indusfft Fry8in8 a new path Curlou51y Opiimistk We seek pJrtnets￿5 from the CfMYwneKial TAwld to f￿d ￿ acll¥itis Whil￿ encouraAln8 ard supportin8 thelr own transformation agendas fora more5UStaTrnablehrtwe. Ww(wk7hitht)therknke-mlnded NG05 tosharexiente. tontenL and buildenAaqem•nt 1lobalT. We aim totackle Ocean threats * tr•rts1aii￿comP1tx sciente inro hurnan st¢Mytelllng.

OCEAN GENERATION FORMERLY PLAsllc OCEANS Dlrertgrf Report forthe year •￿d 31 March 20221eontlnued) Grnuthd in S¢lentèls a t4xt¥•luefor u5 wdepttthlstsam ourwortas ¥¥eseokts t¥kn pewba5ed sd•ntin¢ resear¢h 4r￿ tr¥nslate It Iht¢ Infomth and eryikni crterrtth•tarfyfft can undeffi￿ •ndact Iwi. In 1020rii we had Iwnched tyjr Pl•st Intelwce Fraff￿ a bnd ofphyskal and behwknurnl sdenfftvest•r that dlsllh cornpkn scknte Into fi¥e Intultl¥e dKNon steps: Rethlr& Rehw. ReduR. Reuse and Rewje. Thes• fi¥• Steps reframe the hlernth of peT50n•l comumpikn choke. erKourW¥ a fvndarnefttsl ethlr¥ of an kndMdu•fs apP￿￿h to plastkas cortslderats weknbletothefinal and I￿$t effe¢U￿'Re(¥dln￿ tytk+n. In 2021n2 we e%wnded that appnmch to a ￿03d￿ Oc•an Int•WrKq ph1050phy. We havetsken th¢ Second WorldO¢eonAqJesrta l¢)J>pa8e multrftwresearth doujment wbItsI￿d trythcunlted NatI￿$￿AP￿1 2021 and dsttlled key facts and messays we •re n(v thto and InterestlTr8 tools tD SUPPOrt ourtork We fvr example dec￿lled a bew1krf￿ array of hurnaTrmadÈ Ocean irto fve h¢•dllne ¥as whkh nablÈ U5 to enBa8e wlth a broad audlence tnthe deslretom¥ p95Mfve dHfera. Wt hèvedeftned thtll¥e Ote•n asl•frn: ainwte Chany Ihelpln8 vnderslofidtt mthteied lthk betweenthe Ocun ¥nd Jm•te th•wl Extraaion (Indudbn8 kntrUS￿ F151& Mfjnln& and Plort exlractlm prxtire5} HL Polutlon lkn¢lthllni PlastK Indu5trFaL al￿ wastel Coastal De¥eloprneftt {IndUd1￿ kftd reciamthrt. urban exwnth. rlw. d￿de¥dOp￿￿￿¢j D•ffyOcun Use (tr￿u￿r8 Shlppln& Recve•lkn Towiwn) whltst our ¥nderpin5 alb of our Y(Arth Efi8w￿nt tool4 we arn also rKr• develop1￿ a SaeKe hub on o Ybslte, fpr putsll￿ In the 2022n3 yèar vthkh TAI pro¥th unfort¢r¢d access to a broad anay of Ocean Sdeno, We re deligtited to re¢eNe the rws from the IAt¢rw4emTrMtsf Ocearwaphlc Commtsslon of UNESCO In Apdl 2022 thatouf O¢ean Int￿￿te¥PprOathtOyOUth Enpiunent hasbeen endorsedasa woprtlnufflberlD741 fomAn8 part ofthe UN Decade ofOce•n for 9Jst¥nabk I)e%￿ 2021.2030. with 42% ofthe Oobal urthe rf25. ourfftth proBr•nmes very much th? cor of>Jr Work % weseetheworfttsyouth •51hekeydrl¥erlthknOa 11￿re￿&￿v£sNItlfjWard5the en￿M￿rneol.ITh?02V22wefftn]she￿ the develownent ol a of three SI￿ttl￿￿5. tsrBrfed by ay from >25 years old. flag5hlp ytyith seek to initially ￿Jth In the Mxder ol the Oce•n and then deAop Thlod8• and t￿nt￿lI¥ Ourthree ￿uth prooramw are: Cubg offithal Ocean parthwand tO8tthef we ha¥e de4*toped ourftr5t Earth Cubs O￿n envlronrnentforlaunth on World Oceans Day 2022. In our flF5tyear. wectto reath at least 25,fKYiyounKthIthn. 11. OUaftAmdgmr&16￿uX Ourthree O¢ean1liscthvy Daycwrbjlum re50ur¢epxks corrtlnuetobe reAul•rfy downloaded ty leath￿ •nd pamts; M the 2021n2 year thern ¢wer 50,(XXI vr5Trts frorn rnore than 30.OLI) unl4ue ￿￿0￿$ th ¢)uf ftwfftct3rademy.¢Y8 yestyJr¢e b5fte. In March 2022 laurKhed two sclwI5 Outreath programmes that wll delhv lTrperyon educatlon to 18.tIX) UK S￿defyts. 3JXI eduLiws and re•ch a minlmum of 40,IYXI fvrther the 2022123 year. Van¥thHe. w arn worklno on le¥￿7 lonyem next 8eneraYon educayon soluV(rn IrthKllr¥ the Iveadon of an intelaLt￿. s￿mUlat[r¥ experlente that WIU en•ble the i(kpiion oF+)ur Iloba￿ •nd he¥K• rnllV•ns ofthlkjm i•nservrtkn In • fvn and accsslble w￿. ch•ny. Thr1￿ ow fi48shlp and 5upyth rnastddasses. mitorshlp. ar￿ petsonal de¥￿nt thJrlry2021122wedthloped andtested W￿akerS tIK0￿• ?seriÈsof ItethTworksh¢¥p> We arènowworklns

OCEAN GENERATION FORMERLY PIAsllc OCEANS Dlrtttorf Report for the ye¥ ended 31 Mar¢h 2022 (contlnued) All ouryouth are bullton the 5arnelwrscvKtr￿ plHars but tr￿)re￿ forèach 48egrnup: O¥rOtffi.' AN Intyoduakni to ￿ wgnder and scalè of the O￿n fjLS rde Fn supportln6 Iwé on our 8lue Oxm rtdl Orrn. We prestnt ¥ll ¥rtater a5 • sir Snrucon￿ IWÈ support sfflem. We demonstrate our 11. lfflpq(¢' We Introdu￿ hwnan threatsto th• throuth our thernes wblth lend thems1￿5 to ourown I￿suppurt s￿rn. Fthwe.. Our final plllar Is a call to a¢tt¢￿. Wè dorft the 0￿fi as a ¥lrtkn. We frame thE ¢)Ln as a Sohjtkn to the threats that we hJ¥e rreated. A aynamk et￿y5t￿n that wtth the rht support can malntaln itsell aftdall tts dependants, ￿￿￿11￿<￿5. Wewant toenAe and eythts th• ft•XtV￿r￿¢)n ofw•nt¢r4 •xplor•5. and entrpftheuts In a dtslrefor pth£4>11th aclk>n. and storytslltft& Wè strth thè narrathe arwnd hurnaDvm•de Ot•n threats - from one fvE1￿ by The oryanLg¥on'5 relounth and Ytdefird ffl&Sk￿ resulted In a bmadeninB of our c￿ent toplcs btyond pkstk pollutkn to Indude ottrr humiTrm•de ore￿ thre•ts ¢)ur youth eryynent prordmme5. websfte ond othercontentls all grounded byour newly devekjped fryr5denceased plllars: 11 Our 0￿￿. 21 Ocean. not o￿an$. 31 Our Impxt and 41 Our Fut follo¥Aw￿mMIrts￿th• kyConYf•JDlratEons de¥elopm•rts lft 2021n2: udterKe has led to swernl telkknown wtr4wner brdrth partnorln8 fftrtth us. tt¥ people In sustalnabje vldeo rontentaThJ au8mrted wlity{"Afltsd% thl&taI50 cxabwatln8 On 9Js1aknab￿ tra￿the5. Durl theye•rwwÈre youd th createthefir5t Pknkswltfrurt Pla51ks campxkn (fftrfniprnctkal ￿t0 enhyTrla#ini akno￿ Ocèan actfjm we brouthta hUff￿n f4ceto en¥IrOnmert￿ Iswesto ty4tt65,IXX)followtrs. Through ourwork we Rtse 4warnness about o￿an Ilweats In the context of wacikal soluuoffj artd encDurw behavlour th3ny to our audltnte. In •rf120ZI. wi launched our Wa¥emikef Tool￿ a 8rowty ol b•hlour •LttviW tyl lrfralram •rA reathed 3,LV) peoe in the first 10 mDnth In Ortober 2021. we launthed our M•nywe Mandate on Irtstayam. Thls •nabbes our commurdy to take prdcllul acllofft aplnst dlmats c￿nIe by pl￿ a Marro¥tTree In exthany forfollowbni our Insts8nm paBe. In N¢wember 2021 dosth cwer•l the COP26 •fftnts In Gkn5w. knklr¥ a wlde rty olsesons Into hJ8hlWs a¢tes%thte to a younBV ¥udlence. T¢4ether Thlth our S(kn￿ tea￿ we Jl¥o broke down the IPCC rnportsto sharethe most ImpNtsntOcean related re4dion& • ￿JII￿theye•rwe tr•attd our first TikT4k account arA our Unkedln ty430followvs rEfieciin4 0 Inteiest in oyrapw￿thtQQrea￿ car￿er¥I11)Th fromttwpoRteand professkn•lwtyld. . Pwkn. Our r￿Sle11￿$, se8n￿ted Into Octsft.GÈneravon, W3vemaker¥ £dU￿tOr audtences. 8rew to 4,360 1ollo¥Rrswlth an open rof30%15X hi8lwth¥n the•¥er4ee open r•te fortht ntyk-proflt 5t£torl. IVb%Yr. After the rebrand rol•unch rf( was w(ouwaOry to set over 4LC(A) web51t¢ t￿lts tht 2021122 dud￿the y panKWed in at¥Ade fa￿• of prol•sskn•l •Yrts thyear indudlnq COP26, The Economlsvs ￿staInab4mty FONM aThl Wortd Ottan SummK Aldex 21. The Plati Free Beauty SumffllL Dubjl Empo and olhw prtrdate e¥onts cdledr¥el¥ ￿¥ht￿huDJreds olthousants ofpwlÈauos5 theworfd.

OCEAN GENERATION FORMERLY PLASTIC OCEANS Director< Repart for the ￿ar ended 31 Marth 20221contlnued) Story telli￿ thrwhffilrn Is In ourDNA 4nd Nf8lNI Ifm A 15 Stll ts 2wI TAItd￿ dKwwnlary on Nètllix and rmair& • tthm of the ￿0b•1 movement a8•Tht pl•stl¢ rnlsuse. After the I￿vI￿bIt Co￿19 rdated del•y5. prnlress on our rxt malty fllm prnJe¢t. bel￿ de¥elgped uThJv the iitle of oke frorn the IJ iwpll. We look fonrdrd tts pr•okniupd¥ onthis vay excit1￿ knetrrm documentaryfllm proj& 202V22 w•s ¥￿￿￿(h a yearofchary lor ￿ Weofcour5e emb3rk•d on a new athntureTwIth anew brarf a thallenp of peopleall mwthe Thixld In le•mlrql¥Mito lfve and wowk wlth Ctrl&l9. We tooka vryb￿kIow apwoathto Stsffl￿d￿nnBth1Vearaf￿ ddlbewately ktptthwfixed costs as IIMtasp0551ble lo S¢heme to futhu8h rrost of ow staff and onty stsrted to our ￿ed costs towards the exrtl of the year as fvndli condlflons stsrted to eas Th• Ctr¥ld.19 exptrlerK h•s htralded The Inltial trial systm of hDMt￿klTrS h•$ now been adopted as delor1ooperaii￿ systsm Generatlon15 ft¢￿ an entirEly￿rtUalory1Th1SIll0n.The tearn have also elected to adopt a fiexlble •pwoath to offlce houvs W pmrnote better ¥K•rk411e ￿lanCe •nd ahl kndmdual produthlty. These thjnys In pmems atso ￿ exiend ts ourywth actmttes reath and thnceto If¥￿￿0b¥1 •udew Ha¥ln8 weath•red the earfy ¢h•lwys ¢rf Cw1&19. reknundd as 0¢￿ Gew•tkn. ¥nd tTrnsforTrwd a llexlble and d18￿allY focused oryanlsaiim we ère T￿1 pl•ced to coniinue to bjlld rnomentum. We have developed • str¢r )rtlotlo of ytythh O¢ean that bttn tls¥nÈd to Sca￿ for mtslwwm .terni Impact aThl whkh Dvld• in attracthe prop0511km commtrda parbiers. EnteTlrd 202V23 weare wiulmly •xfted about(wr ￿t0 En¥a8e a ntW8entrth In Ocean knOWl￿et0 zddressOreJftthre•ts. EmpowEry￿￿￿peoP1tthToUkn S￿11 bJlld ard Colectr￿ ImwcL . Ae¥thweIlv￿r IODmthlhkn intrnexi 12ft￿l￿11￿mdtheIfyjnday￿$torexh mmlryL%ffwÈthrguthout the rest olthts oce￿ decad& from the UK 6￿￿rnment. Income was $4ft11kartt￿ uponthe prv41w5yNrf$totsl of£z86.369 •ndts In exce55 e¥eh of prnlou$ prens Th4th more th•n £150)￿• ¢Jtthts tot•1 fttefrrnl in tr final mtsThihs of the fin•n¢lal ye•r reP￿sentIn1 rtstrktrd fvTh1Ir￿ hr ours¢lenee¥ftdytyJthpro8Trmrnes ￿1￿Ch T￿11 bt d•ployed In 2022123. Ourse(rmd Iwprtsourceaf ￿nd1￿￿rne from tho corporatr sertorwh•r•sfvndkn8fromthe comYn•lwsbtt¥d htyt0flullevo15 ¢•u kn lawuepartto Impartofth• ilob•l p￿MIe￿C on nornwl djy tt> fur￿ aclr¥its. Eniwtrry Z022123 ￿ hm seen a sknwdown In fuThltr retelpts arnl a k• fttus for u$ 15 the red tg bulld fflore prtdlL1able le4L4 01 1w4.term furKIIrf tt¥ enobfe a nwre apprNth tow•rd5 proTrmm¢ We arè hugety yateful to evpryone who Very g•porttd usthrOu￿UI the wolorled Ct)¥1&19 pandemkandenawed us tocr#￿nue wlth owocw rni5th. In 2021n2. we delbEratety pulled batk¢M our fixed ¢tssts aThl T￿Sie￿O • 18.4% Intotal èxpense5. Wewue n￿rthelesS able to IrKrease Irfftslmert In oyr Ed￿atk￿ tkneath yosrnmme artM￿ ty 2.W refiettinll the del%rnte #rlteik thot Iv•a￿S enwed Out￿¥h acll¥lUes. Henc kn¥e5knent In aur Eduthn and Outreath athiiles lEPr￿nted 6Q5% of tatal e¥•endiw4 an iKmse In 115% pthrentap polnts ffom the pr•vh)u5 r1479X oftoknl eythurel

OCEAN GENERATION FORMERLY PLAsllc OCEANS Dlrnrtorf Report for the year ended 31 Plarch 2022 I￿rtInUed> Totsl Group hdLI at 31 Math 2022 T•m £291.12q • sigftfficant incrtast M th• prelous yearall￿t £10.2J4. Th15 represents a delibeAte dethlon ￿the •o•rd afttl nlor manapment to ty to str•nwhen the dwrtys ¢•sh kwltk lo10¥A￿ the Ctr4id-19 exwience and a t4Wert CaUt￿U$ approath to fuld (ost duri￿ the year. tt Sh￿10 •lsts be Yecw15ed that Just over £15Ql)Xl of thjs cash 15 held for deployme+)t In Oeftce and youth r4Trnmme acthttles forthe 1022n3 year but the TrJNlual cash Iwe15 refflain o¥ef the boarfj reserve poltei. A strl¢t Yoern ofréeuK•rc•sh41ow rtWlln8was IMp￿rt•d Irrtemato m¥lnthrtrktf45h wntrol atthe Wnnln8 ofthe 202V22 ￿arIndthts￿Tht1n￿eS Inthe newfjnanthlyear. Skncetheond Qftherwii￿ye1r. Cash balantostrthie I0￿d¥ll0ft In 2009 our corn Objec￿ has been ty Stopkn rtocth¢ the wlthln a pnerntlorf. Due In parttothesuccessofour drKwnemaryfHmA Plostkctean and the conslstentumpakn of ourorpnls•t we have yowth In tht awarene55 of ￿a$￿¢ ￿lIu1￿1 4lobafy. Mweower. R Is heartenir4 to see members of the pubHc. companfe5 and •y4ern￿. Tworlahle. ￿r4 to tske acdon 4plnst slnts use pla In 2020. ¥￿there1C￿{Cl￿de1td It TAsthe rithttlmeto eMnd tyjr wtykto addrtss bro¥lor Ottsn fr￿1th. We wa the sarne lfftj ot awarene55 and atdon th bpen woud tD help ue•te amund to b• •tsnd•d to all human-m¥le lI￿eats to the Ocean. crftkal that the heolth ofthe Ocun and fvnd•merrtal Im￿nCe tts the wldw•rf•onmert dlmate and all Ille OTh earth startsto ¢rtthe UAdetsttr•Jl￿aNd attlon It needs. Tr launch of Own Gtneradon on 25 February 2021 thernfore reyesthted the cwnul3tlon of mr a of Ihteilse Str￿￿￿9￿nnInIu￿dQrthernoStth•lknIw7e condllioTrs of co￿19. H•¥lnznrMcom￿￿e￿wr￿1$tfvllYearlS0ceaft G•ner•tlon we we dellthted at the response that our r brarrtl aNI new mls4on has had amonw wr partrt￿ arrfl folltywers ar￿ wtienuinttyexdted atthe I?￿e0f opportunitsth•tournewyouth prafftn¥ne5are Starti￿ tocreate After maWfii appropwe enqylrie8 thè Dirèdors have a reasonats￿ ÉVPed¥tlon that the Ctynpany adequate kn8 corKern b4sb In prnpathqthefr4ndal st•temvrt& The Olrn¢t<Y5 assessed the nyAor ri5k5 to Thkh the Char6ty is expL)sed. The Fisks cth5ty1ewed indude p•ymert OF orOther￿ fraudulent ¢lalrns andthe ffllsmanyrnentdthe fvnd5 •¥aiiableto the Comwny. The Olreaors ¥resattsPRd tl+at syst•rM •rt In pknoto rnanaBethest ris5. All lunds are lld In Cmpans bar& ¥{t)￿tt$ lth eltlw Bank Qr Hsec UK 83nk PIL None OF the Cthnp•nls funds •re invtsted elsrkn. The company optrates under a rnThe5 poIKy set tty the Board ofTrustee$ ar#1 feviewed annualty. The reseprts polky rn4utres the c4xnp/ny to hold (ash re5ervts equlvaiont to the mlnlrnum of three mDnth< expèndltureto co¥erc05ts knthtevontof tlwlndln8upof thÈCompany.Thls rwNewoste5ted durfn8 the 2020121 yèardue to the effects alCo¥b&19Tkn bafedcm ￿ lnr0rn1￿ whfi1MtheTn￿teel oxertiRd thelr dIS¢re¥￿ to contlnue ¢>per?￿n The Gmup's osh fesff¥es atthe y-er4 2022 to• of£29LIZOI2021: £KI.2341.Tot•l cash In 31 M¥th 2022 wasequfvaleAtto25 ash co¥er. Cash re5eThw have been reth¢kn4to norm￿ts￿eted lelsof1&207m*s In thefirst mrrtts of the fi￿1￿￿￿11[¥ear.

OCEAN GENERATION FORMERLY PLASTIC OCEANS Dlre¢tor< Report for the year ended 31 Marth 20221¢ontlnued) supptytsolutloryl alr￿ at rtdu il lertl and Imp•¢tolthosthrtststothe erwlMnffnL fv rn￿0n lsto free theQcean from hum•n ttrweèts tfjthln • 8ener•tion rtyilar Evnta¢t th? M¥nagernertTeam togffer and assJstsKt RezularTrwtee rneetlfywere held aro1 rtwted durfrrftheyearto reththtwtyrossofwoJKtsasel asto rv4l•w the a￿￿15#ton,$ polkk5 and wttedurek A rqlster b fftalrtalned of any ¢onlWctsof hitert deMHsof flhwe IKludd lft Noi• la. Thls rnport •s appiovtd by Phlllp St•lES Dlrector forlssue on 13 Srytthr2011

OCEAN GENERATION FORMERLY PLASTIC OCEANS Independent Exarninerfs Report for the year ended 31 March 2022 I hereby reportonthèaccoufttsof OcanGeneratK>n fortheyearended 31 Marth 2022 thlch•tesettyJiin the •ttached paÈes Ioto 18. trustees are re5powible forthe pre￿ration of the acctyunts forthè charity in accwdarKe wilh thè requirement5 of the Charltle5 Aci 20111.the Arfl. The direa¢ysconsidef that an audit Is not requlred forihL% year under Part 16 of the 2C(16 IAand that an independent examination 15 approprtsite. It is my r•sponslbllMyto- emarnine the a￿junI$.. and statewhether parri¢¢Jlar rnatters h￿Come to my atlenthin. examine the accounts and state whether parttcular rnalt￿ have t(hTto myattention Basls ol Independent ex•rnlnerfs report My èxamlnatlon w35 caffied out taking Into consideratk)n gentral guidance by the Chanty Cornmi5sion. An exzfflination includesa teview oftheaccourtinK records keptbythe tharityarrfla ¢￿￿riSon0ttheaCtOVntsPre5efited wfth those records. ft also Includes conslderation of any unusval Items or dis¢ksures in the accourtts. and the seekin8 of exglanatlon5 from you as trustses ¢oncwftir¥ any suth matters. The Pr￿edureS undertaken do w provlde all ihe evldentè that would be requlred in in audtt and consequefttfy I do not ewpress aud1 opknlon on thè atcounts. lfid•p•ndert 0￿￿￿￿$￿1¢MInI The tharws 8ro55 exceeded £250.tyJO and l arn qualffjed to undertake the exafflination by belnÉ a qualified m•mber ofACCA. I ha¥e complrt•l my•xarnknation. I confirmth no material matters have CL¥neto myattenilon vthlch lives me cause to belSe¥èthat: ¥¢¢ountinÉ records were not kepi in a¢¢urdan¢e with socbon 386 olthE CompanitsArt 2016; or the accounts do notzttcrt with such recwds: or the ac¢ounts do not comply with rele4fani att0un1i￿ requlrements unthr seciknn 396 of the Companles A¢t 2Q)6 otherthan any requirernent thattheac¢ounts8i¥ea trueand falrft•lewwhith is not a matter consklered 5 part of an independent examination: or theaccoufvts hav not been prepared In attordancewlththt Chariti¢5 SCJRP IFRS 1021. 13 September2022 Keith Lee A#in IFCCAI Astln Accounts Solutions Llrnlted Gfound Floor. 14 Peel Road Oou8las Isle of Ma IMI 4LR

OCEAN GENERATION FORMERLY PLASTIC OCEANS Consolldated ststsment of Flnandal Athities for the year ended 31 Marth 2022 DoThatlon4 rns•r4 Ikenf IrKr•nt Int•rert re¢ofj¥ed EXPENDIIiIRE OM: Educa￿On & CArtrnach Fund￿ P•rtnetshl 6gJ5Z 45334 77.n5 27.792 Part *Jl OthtrAdmFnlstTrtlon 82A88 523.363 917 SurphwA4knd¥ Iv￿r 295366 1236.9941 Totsl frjnds W forward surplu￿(defid1j transfErred totheGÈrarnl FurKI 313.348 295JW 1236.9941 76354

OCEAN GENERATION FORMERLY PiAsllc OCEANS Con5011dated &ilance Sheet as at 31 Marth 2022 Tan8lbIef￿¢d assets Trade and other recefvables: arnountsh•lryOJe 3hJl 7.436 4,335 771 98.n3 291.120 5> .145 IXl,234 93,379 ash and cath •qufvalonts . Trndeand other p•y4bl¢s:Arn(wntsMh duewlllth ¢>n• 12U24) 127.12J) 66.151 77JZZ Trade and othor payablos: anwntsf due afterone v S￿eral Fund 76354 TOTALFUM05 For ihe year 31 M¥th 2022 the C￿￿rtY was entsded to wwlon from auth under secdon 477 of CompanlesP£t 2C#)6 ￿1¥￿T￿t0%￿all compans. wth sectlon 476. atcoun￿n8 records and e prep•rnthn ofactount& pr•pred In a¢cordantt T*h the •pplkabbe to w￿an1￿$ subjort to the small PNIW Scaks Djrettor li

OCEAN GENERATION FORMERLY PLASTIC OCEANS Company 8alance Sheet a5 at 31 March 2022 GOP GV Tan8lble fixed assets Investffnt In subsidi•ry Trade and other re¢eivabJes: amtyjnts f•irl￿d￿ •fter Intercompany debtor 3.631 4.335 li IL772 Tr4de aThdother rttei4atsis'. •ffthntsIalk￿dye whthin oney Cash and cash equr¥aleDts TOTAL CURAEMfASSETS 98.733 285.245 13.145 78,117 ' 9L262 CUftAENTUAwullES Trade and other payabl￿. falllAI dutfWltr￿n One￿at tercomp3ny credllor NET CURNEiifASSEIS 8.11 li 122,8231 12,1161 359￿3• 127.2291 64.033 TOTALASSET5 LESSCURafNf UABlUntS J7U61 TTrde and t)ther p•yabls.' amounts1al1i￿ du• •fter ¥e4r (iJ601 374621 74.237 FUNDS 0$ YME CIIARITY Genertl Fund Rertrfcted l￿d$ TOTAL FUNOS Jn.621 74.237 74237 The •ccompanyln8 Arfes ffi p•ys 14. 181orm •n knte8r¥l prtoftht Consolthted An¥fidal %•tements. For the year endln¥ 31 Mth 2022 the Compny TW•5 enuthd tt) exemmkn •uth ur4der 5ecllon 477 of the Companie5Aa 2C)6 (dati￿10$￿41I campanie5. The rnernbers hwe rol required the C4)mpanyto ¢tn •n a￿lIt of its Coraolithted Fln4n¢i•l StoternontsltytheytOT in que5t40n in atcordance with sert40n 476. The Olrectors ¥cknowledp thelr respon￿bilItS fry ¢4fflply1￿ with the req￿e￿ af th •£t respect to a¢￿￿￿11￿9 iecorfs ènd th¢pwovth ofcwomdated FrorKl•l Staiement These Cort501idated Flnancial 514temEnts have been prepared in attordance T*ilh the pro¥isx)ns appllcable t ¢omp•nles sublect to ihe ynall companirf rryme. The Consolkl I wve the Board for on 13 SEptember 2022. Philip Oirettor 12

OCEAN GENERATION FORMERLY PLAsnc OCEANS Consolldatsd statement of Cash Flows for the year ended 31 ma￿ 2022 1236.9941 Ivstmrtfor Depredatlon IlncrEas•Vdeuexe In other debtm 3.138 10021 8.381 12.5741 1217.2281 183.ts3) f5m2) Capllal e¥pendrturÈ 1217.128 •sh In b•nk •tthtAartof the ye•r The•c¢Dmpanylry notss on p¥e5 14. 11 form ah Ihteyal prtolth Consolldatld Fknaficw Statern￿.

OCEAN GENEAATION FORMERLY PLASTIC OCEANS Notes to the Flnandal Statemeiits for the year ended 31 Marth 2022 Octan Genoratlon lthe"c¢¥np•rf or"hrene) 15 a (tynpany by iknid •wantee on l Juty 2(ty wSth Corn￿￿¥ numbw I￿9￿511.The C(Mpary as • ¢W)n 14J•nwiry 1011 wlth th•rttynufflbtr 1139849. On U September 2020 a hotty ￿e0 w￿￿te lrythd ¢¢M￿ry In¢grP￿￿ named Ocean Genw•tlon Llmttsd Irte 111. 0th 16 Febru￿ ￿21 its n8Th￿d￿nIed toocean GerTrtkn Impart Ufftfted.The CoM￿ly8￿d Its gulslthry 1le¢b¥thare astr￿ %ro¥rf. Ihyth ¢ff•£tfromthe9M•rrh 2021thè Coffyrryww thaiyd frnm Pla51k Oceans to O(￿n GenernlIon. Th¢rtrtandStatem￿oftrtha1rt￿bIQ Mmpathy, ¥thlth & • pu￿￿￿entIty￿ndWF￿s 102. ha￿ be•bpwred In accofdarlce whh the Ch¥ltle5 SOHP (FR5 1021 A¢wJnth¥arbJ Rep¥tlni * thath.. Statemert of Rerommended Practké applkable to chrftles prnparf￿the0r4cc0Uftts in ac(ordanre7lththt Flnartdal ReportlwStaThlardapplkatsl• In the UK Ind Rewbllc ol Ir¢larMI IFRS 1021 Isewnd edttlw - ott•b¢r 2019lleffecth l jan￿7ry 20191.. Ftn•ncW eporthi St•nd•rd 102 Tr HnMrr41 Rwtlni Stsndaryl apWIu￿t ln the UK aThl Rtwblk of Ir•lmd' •Thl th• fwlth the exepll(m oflAvestmerrts¥thkh are Inthjded K rn¥ket¥ah. Umtted I"th¢ ￿b51th1￿1 on a Hntty ba￿ The ￿ has è o>tèrrYanous ￿arend tuthe Comp3ny. tonsolldated oct￿nI> commttmentsfor the fore5eeablefvlure.AKctythtWy. Ilw t￿1￿Ul•I￿￿ the Wni con¢wn basb olamniinl Itls rnore1Sk￿tt4n notthattttrustees411 r•£w￿ and IOZ5011PorFRS 101 Gniity. lnrlud1￿8￿¥￿fifftEntV¥ftts. •vxl thrAttor¢5areontyfncluded InthESoFA Thkn thepMr•l IKOMÈ rntO8rbiifon tsqteri• afe met. In th• os• of perf0rnw￿ rel•ted •rnrts. IrK<me must onty be rtcwtsed to tt extent thit th• tharlty has provid￿ the spEdfled ￿dI or str¥Kes as enlldEmert to only •cuJrs when thè perfom)prKÈ related condltronl are fftEtIt Is probabthatthe in¢omeT•lllbp andtr am￿¢4￿ b• meiwrtd Idlab￿and ts notdoferred. In re5pert of iht fvrlouth yant J¢ ll•rt1on Sthemel: Il wlth the (t)*ts belnB ¢13lrne¢ need tt>be met 14

OCEAN GENERATION FORMERLY PiASTIC OCEANS Notes to the Flnanthl Statemthts for the year ended 31 Marth 2022 Icontlnued) GrftAld recofvable ISlrKlUd￿ In IAC•m•kntrfft15•￿Mde¢￿knlrnmtred0nor. knIGfftA4larnount recv4tted a donathn Is crrnldved th be p•rt Is treated asan addlilon tothe s•me fvnd •% Inttlal donatlon th•t ewdliurt It 1% prnbable S•nIe￿ wil be rlqulrnd aNI the of the can be ffleaswed Ilabty. ofanythilunMT hdp rac•fv•d Is notlrthled tnthe acawrrtsbutbdesryf¢ed Inthe tXr•thrf Reptyi. The FtftaKkl 5tstemvrts ol the Group are In the aNTency ol prtmary Èconamlc en¥lronment the Grougoperate$111s Yun¢tyty)¥ ¢uNencn. The DirtttNs ha¥e ¢on5bJered the uJThen¢y In whlch the ¢vlKln?l upbtsl TW dIst￿b￿l￿% wlll be ma¢le and the ujrreno In Ca￿al TAx)uld be returned In a Ilquldatlon. On balance. the Olrectots that Pounds stsllni best rwesents tre oJrrency of tht Group. For the putpose of the Fhiancw Ststsments. tro EEsuIts and fin•ndJl of the <¥oup afe expressed kn Ptyjnds Ststll wN¢h lsthÈ pres0n1￿cUl￿￿0Ithe Gmp. Fofelgn transxtlorn we trarfjlthd tnto tuncYon•l currency usln8 the ÉKthinge we¥•lllry at the tes ol trans•Ctlons. emthange and losses resulllrf from the xttlement of such trans•d¢￿S and from the Iransl•tlon At swr4nd exdmrqe rattt of momtsry 45sets and I1•1￿￿% dormkn•d In twel￿ turrencles are wnlsed in the Statemertof Ftnand4Artivity Cash comprlses cash In haThl and deeftmd dopasR& Cash equl¥alents are ￿Uld lrt¥ÈrtrMnts wlth orttsal maturillÈs olthree rnonthsry lessand bank¢p4entrknthat can be wltrrtlrawn at tlTh WIth￿ApeD•1ty. Tr¥dè pa¥atd•s are obliAalkn)s th swy for 54r¥ico5 that Iwn artyl1￿ kn the tydknary ot bu51rn￿ Irgm pplfers. kcouftts payablewethmllled ascumtllabFJllles Wwymenr15 due wthln oneyearorle5s(urln thenomial net of anytrade dlscounts d￿. The An•n¢wl Assets and Flnanthl LkiNlllles of Group qualifies as a bask fin•nthl irthrnenL These are Intrtial reEW￿¢d at trdn5a¢tion Tnlue arol ybbsequth nwurtd at the￿ settknnent Y￿￿e e¥(ept fDr Ilnanc• lease Tlkdch lfftr• parts of an Item oftl￿1￿le f￿ed •ssets dlfferent wdul Ir•es. thty are accounted fvr a5 separats Imms of i¥n4lbkfthed assetL The Group assesses at eath rewting datet*•thtsnglble fthed a55ets •￿ImpaIred.

OCEAN GENERATION FORMERLY PLASTIC OCEANS Notes to the Flnancial Ststements for the year ended 31 Marth 20221contlnued) Deprecl•tlon b wwded (￿41 fved r•te5c4￿1at¢d to wffteoff thecost less tht e5tlm•thd resldu ¥a￿e of eath asseL on aStraT8ht4￿basi5. O¥tr their expected u5eld INOS F¢x ComputerllTequlpment and 50ftware~thls Is3years. NnyleasedassetswAlbedewEdatedln accordantswiththExcouniin8pohcybebw.Softw¥re under de¥dopwt will COM￿￿( depreclation the sgftware is available for u5È. P￿r to commencement of depreoatlon. eXper￿ltUre￿￿ becapitsltsed bul not deprerk4ted. DeprttiètlDn mdhods, uselul livesand ￿5[dU•1 values are re¥iewed rfthere is•n indication ola syyfi¢art thary slnre I•stanrM￿I reportini dth In the bywhlth the Group expects to consurne an assrfs future econ¢Jmlc beneftts. Leases of ass￿ that trdn5fer 5ubsian¥aly all the rfss arKI reward5 Incldentsl to ownw5Np are th551fied ￿ Itnan¢e leases. Flnance lea￿ irt cwallsed 4t uyY¥nrtement of lease as assets at thtfAlr value ofthe'leèsed 453etoT, ff lowor, the present value of the mlnlmurn lease ￿¥Me￿tsrak￿a1ed u5iry the Interest rate Impllclt In the lease. Assetsare desyeciated mrtheshwrer ofthelease term •rnl the es1fm1￿1 useful life of the •5seL ￿lets are a55e5sed ft>r impalmient at each reponinl date. The capilal elernènt of lease obll8attons Is recwded as a fthbiltyon lrtepl￿n of the affanaement. Lease payments are apportior￿d between w>itsl rep•yrnent fin•n£e tharyt. ts51rvd the effettkrfe iTrtErest method, to prod¥¢e a nsrant rateoltharye on the balareofthe tapltsl fepaynnts ￿tstandI Fund a(WbMI The Cornpanfs Gener•1 Fundsconsi5tsoflunds t￿coMPanY may useforrtstharitible puTp05esat Its dlSCfetlo The Company des￿nOted certain fvrth fty specific purposes, Ihern is no legal forcefort￿ desiputlons. RestArted Fund5 rnay be used In ac¢ord•nce with spedfit Instrudions imposed donors. or ththlch have been r•lsed by the Compwhy for paniudar purposs T•xatlon èxptnge for the yearcoMprts￿ cufrtnt and dtferred tax reco￿1$ed in the remlni perlod. Tay Is recolnlsed lft the proffii and loss attwnt eM¢ept to tht ertert t￿1 it rdates to iterns reco￿15ed In ottrr wmprehernl¥e Income ar directly In equity. In thi5 ¢•5e tax ts •lso re¢o8nised IA oihercomwehÈn51v Intomeordlrecltylnequlty respecEivfy. (￿r￿Tht and dtferred tmtlon assets ar￿ lililles ar• nDt thuyJrrted. T￿￿tsn rdlefls recei￿￿ on qualfvtwd(Ywtlons. GBP . 28OAZ2 Dorotoons and I1¢en￿n1fte ifKomE Grants. Cwona¥lfusJtsb Retentfon 5d￿me 690,282 31.964 286366 G•P 238.143 20.231 G•P 326.212 30.849 Wa8eg and s•1ies Ernployerfs Nl EmployeI5 penston￿5￿ Recrufjtrnent otherc05ts 653 16.207 527 380.733 No siaft members y￿e pahl aver £60.IXKI the >ar12011- nli ). Th• Totsl to Kty MJnaBemem Per50nnel was £42,65712011.. £33,462). The Coffwny employed 7 rtaff as at 31 Mafth 202212021.. Iostaffj. 16

OCEAN GENERATION FORMERLY PLASTIC OCEANS Notes to the Hnanclal Statements for the year ended 31 Marth 20221¢ontlmied) 21 IIA)3 8.819 2.574 Cgsim at31 March 3.967 3x15 7.772 829 3,138 3.967 7.436 Lweclatyon charye £[￿MUlated d•pre¢latkffi as at 31 M•rth Nèt Bookvaluè as •t 31 The not bOok￿lUe¢la$sets hebd umjw11na￿e lèase IMI￿d•dI•tthIn Cunwtttirrlwlwnknt ts£UQ12021: Q3791. I￿1 GBP GIP 91.(X16 Acvutd Furf(wthGr•rt Prepaymertts 7.n7 73> 6,601 ,145 ¥knlchwas apprryed and rncelvod onfj 2021. GBP 1.9)0 Renta depo Trad• and other re¢etraWe>' amountsfqlllrydue aftwoTrt 4,335 4,335 GBP G8P 78.117 bonk GBP C* at b￿k GDP 24J91 2,4SS Trnd• gayab1•5 A¢cruals Flnano iw¢ Inott 91 Tfdeand other pay4bleS..•47￿￿s 6.117 27.228 17

OCEAN GENERATION FORMERLY PLAsnc OCEANS Notes to the Flnancial Statements for the year ended 31 March 2022 (Continued) 2021 Ggp Finance Lease 91 Tr•de and other rffeFwables: arnoUntstslh￿ due •fterow 1.568 Future mihimum lease Pa¥n￿ts4r? asfollrys: GBP Not laterthan oneyear iaterthaft one yearartd lerth?n years Total y0s5 ￿YMent Finan¢e charyes rotal Mablllty 3,227 5,070 13.2201 IL6591 The Company has re￿l¥ed sr¥iresfr￿ Acre Rewjrces Ltd l-lvrfl a compami lth AndyC•rdand ts a director ahd sharhol&r. A¢re provided recfuitrnent sef¥Ktt tothe Coffwfty •tasubstantlèl dbxtymttothelrnorrnal ¢haries.Th trtal pald to A¢r• for the y•af endiry 31 M3r<h 2022 twas IX121: £17,180) and £NII wa5 pafdbje ai the yearnd 12021: M￿). rln8 theyear, FIM Capjtal Lirnlted a c4w•f Twhh PhllpScale515 • Dlrettor•nd 5h•whokterpro¥hJtd p￿b?110 a¢¢ouThtin8 seThTIo5 to the Company. On 23 September 2020. a owrd prJv¥t linited ￿mpanY Tthls kn¢￿ted fiamed Own Generation Lkn (Company number 12899WI. On 16 February 2021 Its namt changed io Ocean Ger￿ttOn lffpact Urnlted (the 'subsidiarfl. The subsidlary has Isswd one0n1inarysha￿ of £i.(x)iotht Paren( fernains Uftpahl •sat31 March 2021. The sub$ldiaryw￿ m•d fvfa¢mMe the opwaiion Ol￿p￿¥te p•rtnershlp5. Jring the financlal year the subskliary ¢har¢ed the Company £15.766 in rel•tA)N to comme￿411 p•rtl¢ipator fees. £2.11612021: NlllolwNch ren￿lf￿ payableto the subsu11￿ltthe yend. Ixwfjftg the IlnarKial year the subsldlary donated £15.560 to the C¢ynpany In the form of Gift Ald. of whlch £7J90 rerniimd payabltto the Compny4tthpyearend12011: Nill.