2023-06-30-accounts

Registered number.. 07962181 Charity numbgr.. 1149828 EFFECTIVE VENTURES FOUNDATION {UK) (Formerly known as EFFECTIVE VENTURES FOUNDATION and CENTRE FOR EFFECTIVE ALTRUISM) (A company limited by guarantee) TRUSTEES, REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2023 Do¢ ID.. ad98b8e8e69314880863204b8679f1a307439fOe

EFFECTIVE VENTURES FOUNDATION (UK) IA company limited by guarantee) CONTENTS Page Reference and administrative details of the Company? its Trustees and advisers Trustees. and Strategic report Trustees. responsibilities statement Independent auditor's report on the financial statements Statement of financial activitles 2-12 13 14-17 18 Balance sheet 19 statement of cash flows 20 Notes to the financial statements 21-48 Do¢ ID.. ad98b8e8e69314880863204b8679f1a307439fOe

E Rose (appointed 9 February 2024) J Winchell (appointed 9 February 2024)

EFFECTIVE VENTURES FOUNDATION (UK) IA company limited by guarantee) TRUSTEES. REPORT FOR THE YEAR ENDED 30 JUNE 2023 The Trustees have pleasure in presenting their annual report and the financial statements, including the administrative detail on page 1, for the year ended 30 June 20231"FY23'1- structure. Governance & Management Effective Ventures Foundation {UKI I'EV UK") is a registered Charity {Charity number.. 11498281 and a company limited by guarantee (Company number- 079621811, and it is govemed by its Memorandum and Articles of Association, as updated at Companies House on 07 March 2023. EV UK'S previous name was "Centre for Effective Altruism" The Trustees for the year are listed within the referen￿ and administrative details on page 1. The registered office (address on page 11 is also the principal office of EV UK. The Trustees are also Directors for the purposes of the Companies Act 2006 and company law. New Trustees are appointed from time to lime as required and are selected by the vote of the existing Trustees. The board seeks candidates that have expertise and experience relevant to the mission of the charity. New Iruslees are aware of their duties under charity law and as per the internal policies of the charity. EV UK is governed by the Trustee board, however day-to-day operations have been delegated to the CEO and the director of each charitable project within EV UK. During FY23 the Interim CEO was Howie Lempel and on 1 January 2024 Rob Gledhill became the new CEO. The Trustees seek input and research on strategic decision making from the CEO and the project directors to inform their decisions. In the event that a Trustee opposes a resolution, it is usually deferred for further discussion. Remuneration for key management personnel is sel in accordance with EV UK'S salary policy which is reviewed by the Trustees. All salaries are set in accordance with industry norms, taking into account staff experience. Affiliations EV UK is closely affiliated with a 501 Icl131 public charity registered in the US, Effective Ventures Foundation USA, Inc. (formerly Centre for Effective Altruism USA Inc.) I'EV US"). In December 2022, EV UK ceased lo be the sole member of EV US. As a result, the financial ststemenls for the year ended 30 June 2023 are not presented on a consolidated basis. EV UK is also affiliated with two organisations with which il sha￿S a similar mission, the Future of Humanity Institute {FHII and Global Priorities Institute IGPII in the UK, with whom il shares office space and collaborates extensively. EV UK provides advice and shares knowledge with these organisations and at limes has provided financial support in the form of grants in collaboration with ils donors and Trustees. Page 2 Do¢ ID.. ad98b8e8e69314880863204b8679f1a307439fOe

EFFECTIVE VENTURES FOUNDATION (UK) IA company limited by guarantee) TRUSTEES. REPORT (CONTINUED} FOR THE YEAR ENDED 30 JUNE 2023 ObJectlves and Actlvltles EV UK continues lo pursue the objects for which it was set up, as sel out in the Memorandum and Articles of Association, namely such charitsble purposes according to the law in England and Wales as the Trustees detemiine, including in particular Ibut without prejudice lo the generality of the foregoingl.. the promotion and improvement of the efficiency and effectiveness of charities and the application of charitable resources by informing, advising and educating those who work for or with charities and voluntary organisalions, or who are otherwise concerned with charities and voluntary organisations with a view lo improving fundraising and planned giving to charities and for charitable purposes., the advancement of education by providing sources of information about the ethics of career choices., the prevention or relief of poverty and the improvement of the conditions of life in socially and economically disadvantaged communities through undertaking and supporting research into factors that contribute to poverty and the most appropriate ways to mitigate these. As noted above, EV UK is closely affiliated with EV US. The objectives and activities of EV US are closely aligned with those of EV UK and a number of the projects pursued by EV UK during FY23 were fiscally sponsored jointly with EV US. In FY22, EV UK presented consolidated financial statements together with EV US because EV UK was the sole member of EV US during FY22. In December 2022, EV UK ￿aSed to be the sole member of EV US and for FY23, EV UK presents its financial statements without consolidating the activities of EV US. In November 2023, the Trustees of EV UK decided that the charitable purposes for which the charity was set up would be best served by spinning out all of the projects which are cU￿entlY fiscally sponsored by EV UK, into new independent entities. This process is expected to take between one and two years. The board of EV UK does not intend to fiscally sponsor new charitable projects, once the existing projects have spun out. It is therefore expected that EV UK will eventually wind down lin 2025 or beyond). During FY23. EV UK and EV US continued the majority of their existing long-term projects and some smaller new projects were added. For each major project, achievements during P123, and plans for the future are set out below. In some cases, these objectives may eventually be delivered by new legal entities following the spin- out of the project. CEA CEA is dedicated to nurturing a community of people who are thinking carefully about the wodd's biggest problems and taking impacfful action lo solve them. Our programs are designed lo help people to consider their ideas, values and options for and about making impact, connect them lo advisors, experts and employers in relevant domains, and facilitate high-quality discussion spaces. CEA'S objectives for the FY23 focussed on helping people who have heard about EA to deeply understand the ideas and lo find opportunities for making an impact in important fields, as well as expanding ils community health and communications capacity. Page 3 Do¢ ID.. ad98b8e8e69314880863204b8679f1a307439fOe

EFFECTIVE VENTURES FOUNDATION (UK) IA company limited by guarantee) TRUSTEES. REPORT (CONTINUED} FOR THE YEAR ENDED 30 JUNE 2023 In 2022123, CEA programs achieved the following.. Events.. 5,484 people attended EA Global cOnferen￿s19301o increase YOYI, and 5,209 people attended EAGX regional conferences {1530/0 increase YOYI. An additional 370+ people allended smaller retreats and events we organised or funded. Groups.. Funding or advice was provided to over 100 university, city & national groups. Online.. Users engaged with the EA Forum for 292,526 hours1109 /0 increase YOYI, and the EffectiveAltruism.org website had over 500,000 pageviews. Communications.. CEA started a new Comms team and hired full-lime team members who worked on promoting and protecting EA and related ideas beyond the EA community, by engaging with the media and on social media. In 2023124, CEA will continue to focus on helping people who have heard about EA lo deeply understand the ideas and lo find opportunities for making an impact in important fields, including by experimenting with pilot projects and improving our internal cost-effecliveness analyses. 80 000 Hours 80,000 Hours provides research and support to help people enter careers that effectively tackle the wodd's most pressing problems. FY23 objectives included continuing to grow ils main four programmes and experimenting wilh additional projects, such as relaunching its headhunting Servi￿ and creating a new, scripted podcast. In 2023, 80,000 Hours grew ils four main programmes, which saw between 3_83010 growth in their key lead metrics during the first three quarters of the year. It also relaunched its popular career guide and book, reintroduced ils headhunting service, added a second podcast host, and experimented with producing video content. In eady 2024, 80,000 Hours expects to appoint a long term CEO. Because of this, 80,000 Hours, 2024 aims are currently tentative, but will likely include.. continuing lo maintain and grow its four main programmes- hiring to increase critical capacity,. and continuing to experiment wlh video content and headhunting. Forethou ht Forethought aims to promote and communicate academic and non-academic work that addresses the question of how to use our scarce resources lo improve the wodd as much as possible. FO￿thoUght supports and promotes individuals and institutions working on global priorities research, furthers and develops effective altruism and longtermism as ideas, and promotes and presents the ideas of effective altruism and longtemiism in social and traditional media, in person, and within academia. FY23 achievements included promoting the paperback version and new translations of What We Owe The Future in Sweden, Gemiany, Spain, and Finland, as well as research into new topics related lo governance of artificial intelligence. They also connected public figures with media opportunities to talk about topics related lo effective altruism and global priorities research. In FY24, Forethought's objectives include research related lo artificial intelligence and global priorities and supporting public figures to promote ideas related lo effective altruism and global priorits'es research. Page 4 Do¢ ID.. ad98b8e8e69314880863204b8679f1a307439fOe

EFFECTIVE VENTURES FOUNDATION (UK) IA company limited by guarantee) TRUSTEES. REPORT (CONTINUED} FOR THE YEAR ENDED 30 JUNE 2023 EA Funds Effective Altruism Funds I'EA Funds'} aims to be the easiest way for small or early stage projects aiming to do an ambitious amount of good lo receive funding. 11 is currently focussed on improving the lives of people in extreme poverty, improving the wellbeing of non-human animals, supporting the Effective Altruism community and making the long run future go well. EA Funds, FY23 objectives included developing grantmaking moving millions of dollars towards charitable and impaclful projects, consistent growth in granlmaking and trying out some new experiments focused on increasing grantee performan￿, oulpul from independent researchers and increasing the number of high potential people on development grants. In FY24, EA Funds intends lo focus on= Increasing grantmaking capacity and management capacity. Specifically, hiring full-time chairs for the Long Temi Future Fund and Animal Welfare Fund, and hiring a dedicated part-lime chair for the Effective Altruism Infrastructure Fund. Increasing donations to EA Funds by growing the community of small donors and providing an excellent donation option for people looking to give $80k lo $5Mlyear who are highly mission-aligned. Continuing to make many grants to promising projerts in multiple cause areas. ww GWWC'S achievements for FY23 included.. Publishing an internal impact evaluation. Taking a more proactive role in fostering the growth of effective giving internationally. Building the foundations for growth by oplimising intemal systems and conducting growth experiments. Building out research capacity and doing a first round of a new 'evaluate the evaluators" project. Continuing lo grow the intemational community of effective givers. Launching a new community strategy. GWWC'S plans for FY24 include.. Completing our second round of evaluating the evaluators Building out their community strategy lo reach 10+ active groups Localising the Pledge and Donation Platform in 24 new markets Collaborating with Charity Entrepreneurship on launching new effective giving organisalions Completing a second successful Effective Giving Summit Collaborating on a new book launch that promotes effective giving Reaching a higher level of operational efficiency and transparency by bringing in all income streams and outgoing grants into the donation platform W Iham Abbe During FY23 Wylham Abbey continued lo run about 30 educational workshops and conferences. The project made a successful application for change of use, improved and streamlined event operations, and repaired building systems leleclrical, heating, fire safety, and drainage), and made a website. A project manager, house manager, chef, and event operations staff person were hired. In FY24 Wytham Abbey plans lo continue using the space for workshops and conferences, aiming for about 40 in total. They will explore the potential use of conservation grants lo supply funding for roof repairs, as well as the maintenance of other historic fabric. There are also plans lo expand the advisor networf( that the projects draws on, improve heating systems, and build out the website. Page 5 Do¢ ID.. ad98b8e8e69314880863204b8679f1a307439fOe

EFFECTIVE VENTURES FOUNDATION (UK) IA company limited by guarantee) TRUSTEES. REPORT (CONTINUED} FOR THE YEAR ENDED 30 JUNE 2023 Lon Longview educates and advises philanthropists on their charitable giving and conducts research into existential and calaslrophic risks. This involves educating people about the world's most important problems, hosting events lo connect philanthropists and experts, and researching and recommending grants. FY23 activities included deepening advisory relationships with key donors worf(ing on the world's most important problems,. executing outreach through public media and private events to promote the effective use of charitable resources., and refining our intemal processes to ensure efficiency in our operations. Longview completed its spin-out from EV UK on 1 February 2024. Until that dale Longview.. Continue to educate philanthropists on their charitable giving, aiming lo increase the number of donors giving to the world's most important problems. Continue to conduct research and granlmaking in cause areas focused on reducing existential and catastrophic risk and ensuring a safe future for all. Hold events to educate philanlhropisls and promote effective philanthropic giving. VAI The Centre for the Governance of Al's IGovAII's mission is lo positively shape the lasting impact on the worfd of Artificial Intelligence I"Al'l, by helping key institutions make beller decisions. GOVAI furthers this mission by producing helpful research and by developing and placing Al govemance talent. In FY23 GOVAI continLJed to operate its research programmes. The Summer and Winter Fellowships were expanded Imore fellows} and continued to receive extremely high ratings from fellows 19.2110 for whether fellows would recommend the programme lo others for example.) It successfully recruited 18 fellows for oijr 2024 Winter Fellowship programme {5 more than our largest previous cohort). Citations of GOVAI research increased from under 1350 in 2022 to just under 1800 in 2023. 11 released approximately 53 publications, reports & working papers in 2023. 11 also ￿leaSed 35 opinion articles, advisory comments, and blogs. In FY23, GOVAI recruited 8 new Research Scholars {4 of whom already started, the other 4 in early 20231. Our Policy Team and other researchers were able to engage significantly with the UK Al Summit. In FY24, GOVAI will work to support and maintain our increased number of researchers, run recruiting rounds for Research Scholars and Research Fellows as part of our growih plans, and run expanded Winter and Summer Fellowship programmes. Non-Trivial Non-Trivial runs an online fellowship lo help talented teenagers start tackling the worfd's most pressing problems. In FY23, Non-Trivial grew to over 100 fellows per cohort, 25,000+ applicants, and 100,000+ newsletter subscribers. This wide reach has enabled it to select exceptional participants, who score higher on our admissions lesls than the average Harvard undergraduate. Our alumni have already stsrted lo make valuable contributions like co-authoring a UN report on exislenlial risks. For FY24, Non-Trivial aims lo experiment with products to provide more support for the most promising young people worffing on important issues like Al safely (for example, hiring subject-specific menlorsl. Additionally, Non-Trivial is planning to make 1-2 hires and lesl out partnerships and other targeted promotion ideas. Page 6 Do¢ ID.. ad98b8e8e69314880863204b8679f1a307439fOe

EFFECTIVE VENTURES FOUNDATION (UK) IA company limited by guarantee) TRUSTEES. REPORT (CONTINUED} FOR THE YEAR ENDED 30 JUNE 2023 Other ro ecls During FY22, EV UK continued or started a number of smaller projects not set out in detail above. In particular.. Non-Trivial Pursuits continued as a project of EV UK. That project aims to educate young people about the world's most pressing problems by running an 8 week intensive program. Bluedol Impact joined EV UK as a new project. Bluedol Impact focuses on building online courses that support people to use their careers lo solve some of the world's most pressing problems. Finally, during FY23, the Atlas Fellowship {'Allas"I ceased to be a project of EV UK lil also ￿aSed being a project of EV USI and was spun out into a separate legal enlily. Atlas focuses on engaging young people with a particular focus on high school students. Grant-making As set out in the financial review below, a substantial part of the expenditure of EV UK is accounted for by granlmaking. In all grant-making, EV UK senior management are mindful of the need lo further our charitable objects and act for the public benefit. Grants are therefore made only when there is a clear tie-in to EV UK'S Charitable objects anij core focus areas. Public benefit In carrying out its activities in the year under review, the Trustees confirm that they have complied with their duty in Section 17 of the Charities Act 2011 to have regard lo the public benefit guidance issued by the Charity Commission for England and Wales. The Trustees are satisfied that the activities undertaken have all been for the public benefit. Specifically, they have strived to ensure that the two conditions of achieving public benefit are met.. al that there are identifiable benefits of our work and, bl that the benefits are lo the public or a section of the public. Please refer lo our objectives, listed above which explain the natLJre of our work in relation to meeting the public benefit requirement. Fundraising Due in large part to the generosity of our existing donor base, during FY23, the charity had no fundraising activities requiring disclosure under S162A of the Charities Act. Page 7 Do¢ ID.. ad98b8e8e69314880863204b8679f1a307439fOe

EFFECTIVE VENTURES FOUNDATION (UK) IA company limited by guarantee) TRUSTEES. REPORT (CONTINUED} FOR THE YEAR ENDED 30 JUNE 2023 Flnanclal revlew Our main sources of income over the period were donations from individuals and grant income from Open Philanthropy. We are especially grateful for all contributions made. Total income for the year was as follows.. FY23 FY22 FY23 Grant Incon￿ and donations Investment income Other incorrE 61,241,411 166,329 547,834 55,524, T39 12, 196 157.519 Total Income 61,955.574 5&694,454 We have used donations over the period to support our charitsble objectives, largely by making grants, by paying staff lo engage in research and outreach activities and to ensure our researth is disseminated widely. Total expenditure for the year was as follows.. FY23 FY22 FY23 Grants Other expenditure Exceptional - settlement costs 19,058,209 35,903,781 3,340,021 19,455,56Q 16,384,197 Total expenditure 58.302,011 35,839,757 EVF UK have reached a settlement agreement in relation to the repayment of FTX funds amounting to £3,340,021. Expenditure on charitable activities increased during the year due both increased funding for existing projects {CEA, 80,000 Hours, etc.) and due lo new projects that joined EV UK during FY22 such that the full impact of their operations on EV UK'S financial performance was realised in FY23. Total funds at the year-end were as follows- FY23 FY22 FY23 Current assets Fixed assets Current liabilities Net funds 41,388,566 17,302,392 11,810,619 46.880.339 26, 869, 725 7 7, 805, 570 1,448,579 43.226.776 EV UK'S free reserves (calculated as unrestricted funds less designated funds and fixed assets) as at 30 June 2023 tolalled £1,576,006 IFY22.. £11,772,261). Page 8 Do¢ ID.. ad98b8e8e69314880863204b8679f1a307439fOe

EFFECTIVE VENTURES FOUNDATION (UK) IA company limited by guarantee) TRUSTEES. REPORT (CONTINUED} FOR THE YEAR ENDED 30 JUNE 2023 There were four funds in deficit at year-end.. Atlas fellowship £1,403,659. A transfer has been made from unrestricted funds to cover this deficit. Asterisk £95,118. Following the year end, a grant was agreed by EV US lo clear EV UK'S balance. Oxford accommodation £133,627. The property is now on the market and the fund deficit will be cleared from consideration. Project solve £137,524. A transfer has been made from unreslricled funds lo cover this deficit. Further detsil of these funds in deficit can be found within note 22 to the accounts. Reserves Policy EV UK will continue lo adopt a policy of holding not less than 6 months of future operating costs nel current assets at all limes, with the aim of increasing this to 12 months over time (see also "investment policy. below). As of 30 June, the net current asset balan￿ of EV UK £29,577,947 represented approximately 10 months operating costs and was therefore at the upper end of the range based on our policy. The basis on which EV UK'S free reserves are calculated changed in the year. In prior years, the "CEA" and "Funds (Generall. funds represented core activities of the charity, were funded by unrestricted grants to the charity (previously called "Centre for Effective Altruism") and so were included in 'Yree reserves" Over time, and following the Charity's growth, funding received for those activities has become restricted to CEA and EA Funds as projects of EV. EV UK'S year end free resenies figure therefore no longer includes CEA and Funds {Generall funds. The costs of EV UK'S core operations are allocated to the various charitable projects they SUPFK)rt and so there is no ongoing need for unrestricted income. Accordingly, EV UK'S policy is limited to holding at least 3 months, central operating costs in free reserves lo act as a buffer should there be significant changes lo the funding of the charity's projects that would affect the viability of allocating costs as planned. The Trustees consider the slate of the EV UK'S financial affairs to be satisfactory. In particular. the projects affected by the bankruptcy of FTXF have now all adjusted their plans or secured alternative funding. EV UK continues to receive sufficient funding to operate all ils activities from its existing donor base. However, as noted above, the Trustees of EV UK have decided that the charitable purposes for which the charity was set up would be best served by spinning out all of the projects which are currently fiscally sponsored by EV UK, and it is therefore expected that EV UK will eventually wind down in 2025 or beyond. For this reason, the financial ststemenls are not prepared on a going concem basis. Investment Policy EV UK holds between one month and three months of operating (x)sts in cash at all limes. The remainder of reseNes are held in high interest notice accounts. 11 is the policy of EV UK to liquidate donations received in the form of cryptocurrency on receipt. Risk Management EV UK regularly reviews and identifies risks and reports these lo the trustees. The risks are discussed and monitored by the Iruslees, and miligalions are identified by the Director of Operations and the CEO. The key current risks as identified in our Risk Register and the control systems are shown below, along with the progress made on risks identified for the previous reporting period. Page 9 Do¢ ID.. ad98b8e8e69314880863204b8679f1a307439fOe

EFFECTIVE VENTURES FOUNDATION (UK) IA company limited by guarantee) TRUSTEES. REPORT (CONTINUED} FOR THE YEAR ENDED 30 JUNE 2023 Management of exlstlng rlsks Ffx Bankru tc As has been widely reported in the press, one of EV UK'S funders, FTX Foundation IFTXFI, filed for bankruptcy protection in the USA in November 2022. As a result, EV UK does not expect to receive any future grant income from this source. After the year end lin November 20231, EV UK reached a settlement agreement with the bankruptcy estate of FTX, which provided a general release from all possible claims from the FTX estate. Following the collapse of FTX, the Charity Commission opened a slatulory inquiry into EV UK in December 2022. The Charity Commission's slalulory inquiry into EV UK remains open. The trustees have continued to cooperate fully. Ma orPRlre utation loss Potential damage to reputation as a result of negative media Coverage due lo the Charity Commission inquiry.. we have worked with external PR consultants, and kept staff and donors as informed as possible about the progress of the inquiry. External PR consultant engaged on ad hoc basis lo provide advice {e.g. following the insolvency of FTX Foundation) The charity works with the Head of Communications for one of its project, who alerts the Executive team when there may be negative news coverage. Safe uardin Extensive safeguarding procedures are in place ahead of every program involving children,. DBS checks are carried out on all staff and volunteers who participate in such programs, the charity has a detailed Safeguarding Policy and Safeguarding Code of Conduct which all adults working on any program with children are required to read and follow,. and the charity also provides safeguarding training to staff and volunteers who participate in these programs. Any safeguarding concerns taken seriously.. in Q12023 an independent investigation was carried out into concerns re past conduct of a fomer trustee. Governance Issues In early 2023, the charity implemented a fom)al Scheme of Delegation which sets out how powers are delegated from the board lo the CEO and the leads of each charitable project., the CEO and project leads follow this Scheme of Delegation in their day to day activities During 2023, significant effort has been expended on recruitment of new trustees to improve the range of skills and experience represented on the board. One new trustee has been appointed and more are expected in early 2024. As noted in the section on Objectives and Activities above. the Trustees of EV UK decided that the charitable purposes for which the charity was sel up would be best served by spinning out all of the projects which are currently fiscally sponsored by EV UK, into new independent enlilies. This prO￿s$ is expected lo take between one and years. The board of EV UK does not intend to fiscally sponsor new charitable projects, once the existing projects have spun out.11 is therefore expected that EV UK will eventually wind down lin 2025 or beyond). A Conflicts of Interest Register is maintsined by the charity's legal team,. every board meeting opens with a request lo disclose any relevant Cols,. all written resolutions of the board also require the disclosure of any relevant Cols,. all new board members are required lo read the COI policy and sign a declaration of inleresls,. trustees are required to update the charity's legal team if any new Cols arise, so that these can also be entered onlo the COI Register. Page 10 Do¢ ID.. ad98b8e8e69314880863204b8679f1a307439fOe

EFFECTIVE VENTURES FOUNDATION (UK) IA company limited by guarantee) TRUSTEES. REPORT (CONTINUED} FOR THE YEAR ENDED 30 JUNE 2023 Data Securit I Priva Secure systems in place12FA, LaslPass, bank dual authorisalionl according lo risk level of systems involved. We are currently conducting a full internal review of practices in relation to personal data lo ensure that necessary consents are obtained and data is only shared with people who strictly need ac￿$$. We are also reviewing the pro￿sseS for the storing and retention of the most sensitive forms of personal data, with process changes to follow. Employees are required lo do Cyber Security training. We are working lo improve cyber security protections, including ensuring regular inlemal updates and reminders to all staff to carry out security checks and implement two-factor aulhenlication on their accounts. The operations team will also engage an external consultsnt to carry out a red-teaming exercise., the charity will update ils security protocols based on recommendations. The charity is also working lo obtain cyber security insurance. in As noted above, in November 2022 a major donor to EV UK filed for bankruptcy protection and we do not expect lo receive income from this donor in future. We have responded by raising new funds from other donors, and by scaling down planned expenditure in affected projects where appropriate. In addition, financial controls have been improved to ensure that projects have sufficient runway to wind down in an orderly fashion rf funding ceases. The charity remains dependent on one major donor, Open Philanthropy I'OP") for a majority of ils funding. We work very closely with multiple grantmakers at OP. In the event OP decides to discontinue funding certain projects, we expect them to provide ample warning to allow us lo scale down the relevant operations accordingly. Carbon and energy usage The Charity's estimate of its energy consumption and resulting C02 emissions in FY23 are as follows.. UK energy use Ikwhl 861,000 Associated greenhouse gas emissions IkgCOEel 176,(XJO Intensity rab"o'. errissions per square metre of Offi￿ space {kgCO. elm ) 41 Trustggs, dutlgs in relation to section 172 of the Companio$ Act The Board of Trustees is aware of its duty under Section 172 of the Companies Ad 2006. This duty includes acting in the interests of stakeholders when promoting the Suc￿sS of the charitable company. The trustees act in accordance with this requirement and in doing so have regard to.. The likely consequences of any decision in the long-term. The interests of the company's employees. The need lo foster the company s business relationships with suppliers and other stakeholders. The impact of the company s operations on the community and the environment. The desirability of the company maintaining a reputation for high standards of business conduct. Page11 Do¢ ID.. ad98b8e8e69314880863204b8679f1a307439fOe

EFFECTIVE VENTURES FOUNDATION (UK) IA company limited by guarantee) TRUSTEES. REPORT (CONTINUED} FOR THE YEAR ENDED 30 JUNE 2023 En th staff The CEO and executive team keep in touch with staff through regular team meetings as well as via email and Slack. Staff feedback surveys are regularly conducted lo assess staff engagement and understand the key issues driving morale. Stsff are encouraged lo speak up outside these channels as well and we aspire lo sustain a strong culture of open communication and feedback across levels. The CEO and their team regularly briefs the trustees on important matters at board meetings. Issues discussed include: Employee reward and recognition. Company wide policy updates le.g. safeguarding, whistleblowing poliues etc.) Financial performance and forecasts for the year ahead. Strategic plans for the various projects supported by EV UK {e.g. progress towards Longview spinning out from EVI. Interactions with regulators le.g. Charity Commission, HMRCI. Each of our projects is separately responsible for inleraclions with volunteers. Our external stakeholders include= donors, grant recipients, suppliers, attendees at our educational events, EA group organisers and members, users of the EA forum, participants in careers advising and educational courses, the academic community with which we collaborate, the EA community broadly defined, and the general public. We engage in two-way commLJnicalion with all these stakeholders and are continuously looking for feedback and ways lo improve both the services we provide and the relationships we build. Two key processes through which we engage are.. Our major projects run regular feedback surveys with their relevant stakeholders across their main activities le.g. Effective Altruism Global, 80k careers advising, etc.) Our grant recipients provide progress reports and have the opportunity to check in with grantmakers to discuss their progress. Individuals and organisations we partner with are expected to comply with the requirements of any relevant professional stsndards or trade b(￿1&$, as well as all applicable laws, statutes, regulations and codes of practi￿. For example, the requirement for Complian￿ with applicable laws, stslules etc. is included in all of our grant agreements. The trustees periodically review financial and operational performance. They are responsible for estsblishing and maintaining an effective system of internal controls lo delecl, prevent and manage risks. They are also responsible for reviewing legal and regulatory compliance. For more on risk management, please see the dedicated section above. Approved by order of the members of the board of Trustees and signed on their behalf by- Mr L Quirk {Trusteel Dale.. 0810312024 Page 12 Do¢ ID.. ad98b8e8e69314880863204b8679f1a307439fOe

EFFECTIVE VENTURES FOUNDATION (UK) IA company limited by guarantee) STATEMENT OF TRUSTEES. RESPONSIBILITIES FOR THE YEAR ENDED 30 JUNE 2023 The Trustees (who are also the directors of the Company for the purposes of company lawl are responsible for preparing the Trustees, report including the Strategic report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Praclicel. Company law requires the Trustees to prepare financial statements for each financial year. Under company law, the Trustees must not approve the financial statements unless they are satisfied that they give a true and fair view of the slate of affairs of the Company and of its incoming resour￿$ and application of reSoUr￿s, including its income and expenditure, for that period. In preparing these financial slalements, the Trustees are required to.. select suitable accounting policies and then apply them consistently., observe the methods and principles of the Charities SORP {FRS 1021- make judgements and accounting eslimales that are reasonable and prudent., stsle whether applicable UK Accounting Standards {FRS 1021 have been followed, subject to any material departures disclosed and explained in the financial statements., prepare the financial statements on the going concem basis unless it is inappropriate to presume that the Company will continue in business. The Trustees are responsible for keeping adequate accounting records that are sufficient lo show and explain the Company's transactions and disclose with reasonable accuracy al any time the financial position of the Company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the Company and hen￿ for taking reasonable steps for the prevention and detection of fraud and other irregularities. Approved by order of the members of the board of Trustees and signed on its behalf by.. Mr L Qulrk {Trusteel Dale.. 0810312024 Page 13 Do¢ ID.. ad98b8e8e69314880863204b8679f1a307439fOe

EFFECTIVE VENTURES FOUNDATION (UK) IA company limited by guarantee) INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF EFFECTIVE VENTURES FOUNDATION {UKI Opinion We have audited the financial statements of Effective Ventures Foundation {UKI {the 'charitable company'l for the year ended 30 June 2023 which comprise the Statement of financial aclivilies, the Balance sheet. the Statement of cash flows and the related notes, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland, (United Kingdom Generally Accepted Accounting Praclicel. Except for the fact consolidated financial statements have not been presented as set out below, in our opinion the financial slatemenls.. give a true and fair view of the state of the charitable company's affairs as at 30 June 2023 and of its incoming resources and application of resources, including ils income and expenditure for the year then ended., have been properly prepared in accordance with United Kingdom Generally A¢￿pted Accounting practi￿., and have been prepared in accordance with the requirements of the Companies Act 2006. Basis for qualified opinion As sel out in note 15, the Charity retained control of EV US from 1 July 2022 to 7 December 2022. As they were a parent charity the Charity should have prepared consolidated accounts for the period, including the results of EV US up lo 7 December 2022 but have actually deconsolidated as at 1 July 2022. In respect of this matter alone our audit opinion is qualified. We conducted our audit in accordance with International Stsndards on Auditing IUKI {ISAs IUKII and applicable law. Our responsibilities under those stsndards are further described in the Auditorfs responsibilities for the audit of the financial statements section of our report. We are independent of the charitable company in accordance with the ethical requirements that are relevant lo our audit of the financial statements in the United Kingdom, including the Financial Reporting Council's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion. Emphasis of matter In forming our opinion on the financial statements, we have considered the adequacy of the disclosure made in note 2.2 to the financial statements concerning the Charity s ability to continue as a going concem. OLJr opinion is not modified in respect of this matter. The Trustees of EV UK have decided that the charitable purposes for which the charity was set up would be best served by spinning out all of the projects which are currently fiscally sponsored by EV UK, and it is therefore expected that EV UK will eventually wind down in 2025 or beyond. For this reason, the financial statements are not prepared on a going concem basis. Page 14 Do¢ ID.. ad98b8e8e69314880863204b8679f1a307439fOe

EFFECTIVE VENTURES FOUNDATION (UK) IA company limited by guarantee) INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF EFFECTIVE VENTURES FOUNDATION IUKI {CONTINUED) Other information The other information comprises the information included in the Annual report other than the financial statements and our Auditor's report Ihereon. The Trustees are responsible for the other information contained within the Annual report. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly staled in our report, we do not express any form of assuranee conclusion thereon. Our responsibiltty is lo read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit, or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If. based on the work we have perfomied, we conclude that there is a material misstatement of this other infom)alion, we are required lo report that fact. We have nothing to report in this regard. Oplnlon on other matters prescrlbed by the Companles Act 2006 In our opinion, based on the work undertaken in the course of the audit: the information given in the Trustees, Report including the Strategic Report for the financial year for which the financial statements are prepared is consistent with the financial statements. the Trustees, Report and the Strategic Report have been prepared in accordance with applicable legal requirements. Matters on which we are required to report by exception In the light of our knowledge and understanding of the charitable company and its environment obtained in the course of the audit, we have not identified material misstatements in the Trustees, Report including the Strategi¢ Report. We have nothing to report in respert of the following matters in relation to which Companies Act 2006 requires us to report to you if, in our opinion.. adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us- or the financial statements are not in agreement with the accounting records and returns., or certain disclosures of Trustees. remuneration specified by law are not made., or we have not received all the information and explanations we require for our audit. Page 15 Do¢ ID.. ad98b8e8e69314880863204b8679f1a307439fOe

EFFECTIVE VENTURES FOUNDATION (UK) IA company limited by guarantee) INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF EFFECTIVE VENTURES FOUNDATION IUKI {CONTINUED) Responsibilities of trustees As explained more fully in the Trustees, responsibilities statement, the Trustees Iwho are also the directors of the charitable company for the purF)oses of company lawl are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such intemal control as the Trustees determine is necessary lo enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error. In preparing the financial statements, the Trustees are responsible for assessing the charitable company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concem basis of accounting unless the Trustees either intend to liquidate the charitsble company or lo cease operations, or have no realistic altemative bul to do so. Audltor's responslbllltles for the audlt of the flnanclal statements Our objectives are lo obtain reasonable assuran￿ about whether the financial stslements as a whole are free from material misstalemenl, whether due lo fraud or error, and to issue an Auditor's report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAS IUKI will always detect a material misstalemenl when il exists. Misslalemenls can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements. Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, lo delecl material misslalemenls in respect of irregularities, including fraud. The exlenl lo which our procedures are capable of detecting irregularities, including fraud is detailed below.. We obtained an understanding of the legal and regulatory frameworks within which the charitable company operates, fwusing on those laws and regulations that have a direct effect on the determination of material amounts and disclosures in the financial statements. The laws and regulations we considered in this context were the Companies Act 2006, the Charities Act 2011, together with the Charities SORP IFRS 1021. We assessed the required compliance with these laws and regulations as part of our audit procedures on the related financial statement items. In addition, we considered provisions of other laws and regulations that do not have a direct effect on the financial statements bLJI compliance with which might be fundamental to the charitable company s ability to operate or to avoid a material penalty. We also considered the opportunities and incentives that may exist within the charitable company for fraLJd. The laws and regulations we considered in this context for the UK operations were laxalion legislation and employment legislation. Auditing standards limit the required audit procedures to identify non-compliance with these laws and regulations lo enquiry of the Trustees and other management and inspection of regLJlatory and legal correspondence, if any. We identified the greatest risk of material impact on the financial statements from irregularities, including fraud, lo be within the recognition of grant and donation income and the override of controls by management. Our audit procedures to respond to these risks included enquiries of management about their own identification and assessment of the risks of irregularities, sample testing on the posting of joumals, designing audit pmcedures over grant and donation income, reviewing accounting estimates for biases, reviewing regulatory correspondence with the Charity Commission, and reading minutes of meetings of those charged with g0veman￿. Page 16 Do¢ ID.. ad98b8e8e69314880863204b8679f1a307439fOe

EFFECTIVE VENTURES FOUNDATION (UK) IA company limited by guarantee) INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF EFFECTIVE VENTURES FOUNDATION IUKI {CONTINUED) Owing lo the inherent limitations of an audit, there is an unavoidable risk that we may not have detected some material misslatemenls in the financial statements, even though we have properly planned and performed our audit in accordance with auditing standards. For example, the further removed non-compliance with laws and regulations lirregularitiesl is from the events and transactions reflected in the financial statements, the less likely the inherently limited procedures required by auditing standards would identify it. In addition, as with any audit, there remained a higher risk of non-detection of irregularities, as these may involve collusion, forgery, intentional omissions, mis￿presentatIOns, or the override of internal controls. We are not responsible for preventing non-compliance and cannot be expected to deteel non-compliance with all laws and regulations. A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at-. www.frc.or .uklauditorsres onsibilities. This description forms part of our Auditovs report. Use of our report This report is made solely to the charitable companls members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might stste to the charitable Company's members those matters we are required lo state lo them in an Auditorts report and for no other purpose. To the fullest extent pemiitted by law, we do not accept or assume responsibility to anyone other than the charitable company and ils members, as a body, for our audit work, for this report, or for the opinions we have formed. Kery Brown {Senior statutory auditor) for and on behalf of Crowe U.K. LLP Statutory Auditor Black Country House Rounds Green Road Oldbury West Midlands B69 2DG Dale.. 12 March 2024 Page 17 Do¢ ID.. ad98b8e8e69314880863204b8679f1a307439fOe

EFFECTIVE VENTURES FOUNDATION (UK) IA company limited by guarantee) STATEMENT OF FINANCIAL ACTIVITIES {INCORPORATING INCOME AND EXPENDITURE ACCOUNT) FOR THE YEAR ENDED 30 JUNE 2023 Unrestricted funds 2023 Restricted funds 2023 Total funds 2023 Total funds 2022 Note Income from: Donations and grants Investments Other income 19.410,160 6,294 416,084 41.831,251 160.035 131,750 61,241.411 166.329 547,834 55,524, 739 12,196 157,5f 9 Totsl income 19,832,538 42,123,036 61,955.574 55,694,454 Expenditure on: Exceptional Costs Charitable activities 3,340,021 36,004,565 3,340.021 54,961.990 18,957,425 35.839, 757 Totsl expenditure 18,957,425 39,344,586 58,302.011 35,839, 757 Net Income Transfers between funds 875,113 {11,574,5461 2,778,450 11,574,546 3,653.563 19.854,697 21 Net movement in funds 110,699,433) 14.352,996 3,653.563 19,854,69T Reconciliation of funds: Total funds brought forward Net movement in funds 29.577.831 {10,699,4331 13.648,945 14,352,996 43,226.776 3,653,563 23,372,079 19,854,697 Totsl funds carrigd forward 18,878,398 28,001,941 46,880.339 43,226, 776 The notes on pages 21 to 48 fomi part of these financial statements. Page 18 Do¢ ID.. ad98b8e8e69314880863204b8679f1a307439fOe

EFFECTIVE VENTURES FOUNDATION (UK) IA company limited by guarantee) REGISTERED NUMBER: 07962181 BALANCE SHEET AS AT30 JUNE2023 2023 2022 Note Fixed assets Intangible assets Tangible assets 13 14 54 17,805,516 17,302.392 17,302,392 17,805,570 Current assets Debtors Investments Cash al bank and in hand 16 17 23 12.642.885 2,910,756 175,OQO 23, 783,969 28,745,681 41.388,566 26,869, 725 Creditors.. amounts falling due within one year 18 111.810.619) (1,448,519) Net current assets 29,577.947 25.42f,206 Total assets less current liabilities 46,880,339 43,226, 776 Total net assets 46,880.339 43,226, 776 Charity funds Restricted funds 28,001.941 18,878,398 13.648,945 29,577,831 Unrestricted funds Totsl funds 21 46,880.339 43,226, 776 The Trustees acknowledge their responsibilities for Complying with the requirements of the Act with respect to accounting records and preparation of financial statements. The financial statements were approved and authorised for issue by the Trustees and signed on their behalf by.. Mr L Quirk {Trusteel Date.. 0810312024 The notes on pages 21 to 48 fom) part of these financial statements. Page 19 Do¢ ID.. ad98b8e8e69314880863204b8679f1a307439fOe

EFFECTIVE VENTURES FOUNDATION (UK) IA company limited by guarantee) STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 30 JUNE 2023 2023 2022 Note Cash flows from operating activities Nel cash used in operating activities 22 4.702.712 19,445,og2 Cash flows from investing activities Dividends, interests and rents from investments Purchase of tangible fixed assets Investment cash released to bank 166,329 12,196 {82,329) (16,445,019) 175,000 Net cash provided byl{used in) investing activities 259,000 (16.432.823) Change in cash and cash equivalents in the year Cash and cash equivalents at the beginning of the year 4.961.712 3.012.269 23,783,969 20,771, 700 Cash and cash equivalents at the end of the year 23 28,745,681 23, 783,969 The notes on pages 2110 48 form part of these financial statements Page 20 Do¢ ID.. ad98b8e8e69314880863204b8679f1a307439fOe

EFFECTIVE VENTURES FOUNDATION (UK) IA company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2023 Company status Effective Ventures Foundation is registered as an incorporated charity limited by guarantee with Companies House, (registered no. 07962181 England and Wales) and Charity Commission (registered no. 11498281. The address of its registered office is Trajan House, Mill Street, Oxford. OX2 ODJ. On 17 August 2022, the Charity changed its name from Centre for Effective Altruism ICEAI to Effective Ventures Foundation. On 10 February 2023, the Charity changed ils name from Effective Ventures Foundation to Effective Ventures Foundation IUK). Accountlng pollcles 2.1 Basis of preparation of financial statements The financial statements have been prepared in accordance with the Charities SORP IFRS 1021- Accounting and Reporting by Charities.. Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 leffective 1 January 20191, the Financial Reporting Standard applicable in the UK and Republic of Ireland {FRS 1021 and the Companies Act 2006. Effective Ventures Foundation IUKI meets the definition of a publi¢ benefit entity under FRS 102. Assets and liabilities are initially recognised al historical cost or transaction value unless otherwise slated in the relevant accounting policy. In FY22, EV UK presented consolidated financial statements together wth EV US because EV UK was the sole member of EV US during FY22. In December 2022, EV UK ceased to be the sole member of EV US and for FY23, EV UK presents ils financial statements without consolidating the activities of EV US. 2.2 Going concern The Trustees consider the state of the EV UK'S financial affairs to be satisfactory. In particular, the projects affected by the bankruptcy of FTXF have now all adjusted their plans or secured allernalive ftjnding. EV UK continues to receive sufficient funding lo operate all ils activities from its existing donor base. However. the Trustees of EV UK have decided that the charitable purposes for which the charity was set up would be best served by spinning out all of the projects which are currently fiscally sponsored by EV UK, and il is therefore expected that EV UK will eventually wind down in 2025 or beyond. For this reason, the financial statements are not prepa￿d on a going concem basis. Page 21 Do¢ ID.. ad98b8e8e69314880863204b8679f1a307439fOe

EFFECTIVE VENTURES FOUNDATION (UK) IA company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2023 Accounting policies (continued) 2.3 Fund accounting General funds are unrestricted funds which are available for use at the discretion of the Trustees in furtherance of the general objectives of the Company and which have not been designated for other purposes. Designated funds comprise unrestricted funds that have been set aside by the Trustees for particular purposes. The aim and use of each designated fund is set out in the notes to the financial statements. Restricted funds are funds which are to be used in accordance with specific restrictions imposed by donors or which have been raised by the Company for particular purposes. The costs of raising and administering such funds are charyed against the specific fund. The aim and use of each restricted fund is sel out in the notes lo the financial statements. 2.4 Income Income is included in the Statement of Financial Activities I'SOFA") as and when entitlement arises, the amount can be reliably quantified and the economic benefit lo the Charity is considered probable. Donations and gifts represent amounts receivable during the year, together with any associated tax refund and do not include the value of any pledges secured for future donations. Grants are included in the financial statements on a receivable basis. The balance of income received for a specific purpose but not expended during the year is shown in the relevant funds on the Balance Sheet. Where entitlement occurs before income is received, the income is accrued. Donated setvices are included in the SOFA lo the extent that the value to the Charity is quantifiable, and these are rewgnised al market value. A corresponding entry in expenditure for these donated services is also recognised. In line with FRS 102, voluntary help is not included within the financial statements. During the year, EVF UK had 20512022.. 791 individuals volunteer at the Charity. Their donated time has not been accounted for. 2.5 Expenditure Expenditure is recognised once there is a legal or conslruclive obligation to transfer economic benefit to a third party, il is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is classified by aclivily. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity- Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of lime spent, and depreciation charges all￿ated on the portion of the asset's use. Expenditure on charitable activities is incurred on directly undertaking the activities which further the Company's objectives, as well as any associated support costs. Page 22 Do¢ ID.. ad98b8e8e69314880863204b8679f1a307439fOe

EFFECTIVE VENTURES FOUNDATION (UK) IA company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2023 Accounting policies (continued) 2.5 Expenditurg Icontinugd) All expenditure is accounted for on an accruals basis. Support costs and other costs not directly attributable to particular functional activity categories are apportioned over the relevant categories on the basis of management estimates of the amount attributable to that activity in the year on a basis consistent with use of the resources. The irreeoverable element of VAT is included with the item of expense to which it relates. Governance costs include strategic planning costs for the Charity s future development, extemal audit and all costs of complying with constitutional and statutory requirements, such as costs of board and committee meetings and for preparing statutory financial statements and satisfying public accountability and are included within support costs. 2.6 Grant maklng The Charity makes regular grants to ils recommended charities and other organisations. Grant awards are accounted for as soon as a valid expectation has been communicated to the recipient charity. If an offer is conditional upon events outside the Charity's control and il is possible but not probable that an outflow of economic benefits will arise, such amounts are reccNJnised as contingent liabilities until the grant conditions are fulfilled. 2.7 Intangible assets and amortisation Intangible assets are initially recognised al cost. After recognition, under the cost model, intangible assets are measured al cost less any accumulated amortisation and any accumulated impairment losses. Amortisation is provided on intangible assets at rates calculated lo write off the cost of each asset on a straighl-line basis over its expected useful life. Amortisation is provided on the following basis.. Domain names 33 '/0 slraighl line 2.8 Tangible fixed assets and depreciation Tangible fixed assets costing £5,000 or more are capitalised. Tangible fixed assets are initially recognised at cost. After recognition, under the cost model, tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Page 23 Do¢ ID.. ad98b8e8e69314880863204b8679f1a307439fOe

EFFECTIVE VENTURES FOUNDATION (UK) IA company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2023 Accounting policies (continued) 2.8 Tangiblg fixgd assets and depreciation (continugdl Depreciation is charged so as lo allocate the cost of tangible fixed assets less their residual value over their estimated useful lives, on a reducing balance basis. Depreciation is provided on the following bases.. Freehold property Building improvements Office equipment Leasehold improvements straight line over 100 years straight line over 50 years 250/0 Straight line slraighl line over the life of the lease 2.9 Investments Current asset investments represent deposit accounts. 2.10 Debtors Short term debtors are initially measured at transaction price, less any impairments. Prepayments are valued at the amount prepaid net of any trade discounts due. 2.11 Creditors Creditors are recognised when the charity has a present obligation resulting from a past event that will probably result in the transfer of funds lo a third party and the amount due lo sellle the obligation can be measured reliably. Creditors are recognised at their selllement amount after allowing for any trade discounts due. 2.12 Foreign currencies Monetary assets and liabilities denominated in foreign currencies are translated into sterling at rates of exchange ruling at the reporting dale. Transactions in foreign currencies are translated into Sterling al the spot rate on the dale of the transaction. 2.13 Financial instruments Basic financial instruments are initially recognised at transaction value and subsequently measured al amortised cost. Financial assets held at amortised cost comprise cash al bank and in hand, together with accrued income and other debtors. Cash at bank and in hand is defined as all cash held in instant access bank accounts and used as working capital. Financial liabilities held at amortised cost comprise all creditors except social security and deferred income. Page 24 Do¢ ID.. ad98b8e8e69314880863204b8679f1a307439fOe

EFFECTIVE VENTURES FOUNDATION (UK) IA company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2023 Accounting policies (continued) 2.14 Pgnsions The pensions costs charyed in the financial statements represent the contributions payable lo the personal pension plans of certain employees during the year. Amounts paid in relation to these schemes are charged to the Statement of Financial Activities when they fall due. All pension costs are allocated to the relevant restrictions by employees. Critical accounting estimates and areas of judgement Esb'males and judgements are continually evaluated and are based on historical experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. There are no significant critical eslimales or judgments in these accounts. Critical accounting estimates and assumptions.. The Company makes estimates and assumptions con￿MIng the future. The resulting accounting eslimales and assumptions will, by definition, seldom equal the related actual results. The estimates and assumptions that have a significant risk of causing a material adjustment lo the carying amounts of assets and liabilities within the next financial year are discussed below. Page 25 Do¢ ID.. ad98b8e8e69314880863204b8679f1a307439fOe

EFFECTIVE VENTURES FOUNDATION (UK) IA company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2023 Income from donations and grants Unrestricted Restricted funds funds 2023 2023 Total funds 2023 Donations and grants 19,410,160 41,831,251 61,241,411 Unrestricted funds 2022 Restricted funds 2022 Total funds 2022 Donations and grants 14,897,831 40,632,908 55,524, 739 Investment income Unrestricted Restricted funds funds 2023 2023 Total funds 2023 Bank interest receivable 6,294 160,035 166.329 Unrestricted funds 2022 Total funds 2022 Bank interest receivable 12,196 12,196 Page 26 Do¢ ID.. ad98b8e8e69314880863204b8679f1a307439fOe

EFFECTIVE VENTURES FOUNDATION (UK) IA company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2023 Other income Unrestricted Restricted funds funds 2023 2023 Total funds 2023 Other income 416,084 131,750 547,834 Unrestricted funds 2022 Restricted funds 2022 Total funds 2022 Other income 134,654 22.865 157,519 Exceptional Costs Restricted funds 2023 Total funds 2023 Total funds 2022 Settlement costs 3,340,021 3,340,021 EVF UK have reached a settlement agreement in relation to the repayment of FTX funds amounting to £3,340,021. Page 27 Do¢ ID.. ad98b8e8e69314880863204b8679f1a307439fOe

EFFECTIVE VENTURES FOUNDATION (UK) IA company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2023 Analysis of grants Grants to Grants to Institutions Individuals 2023 2023 Total funds 2023 Grant making 15,390,839 3,667,370 19.058,209 Grants lo Institutions 2022 Grants to Individuals 2022 Total funds 2022 Grant making 15,035,548 4,420,012 19,455,560 Grants were made to 705 individuals during the ye8r12022- 8261. Page 28 Do¢ ID.. ad98b8e8e69314880863204b8679f1a307439fOe

EFFECTIVE VENTURES FOUNDATION (UK) IA company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2023 Analysis of grants {continuedl 2023 2022 Grants to Institutions Against Malaria Foundation Animal Charity Evaluators Association Effective Altruism Geneva Blacksmith Institute USA- Operating Cambridge Effective Altruism Cie CCTmarkelplace DBA New Incentives Charity Science Foundation of Canada Clean Air Task Force Conjecture Ltd Czech Association for Effective Altruism EA Projects Equalia other Effective Altruism organisalions Evidence Action Family Empowerment Media Fish Welfare Initiative Fortify Health Founders for Good Founders Pledge Climate Fund GiveDirectly Givewell Global Challenges Project Good Food Institute 1,809,419 361,600 155.370 2.964,228 272,011 2,902,537 914,426 131,027 206,604 270. 177 185,665 146,301 141,040 1500,000) 740.215 207.368 2.032.462 1.403.868 107,901 161.110 1,366,843 248, 137 (318, 720) 209, 784 296, 738 302, 793 1.202,615 568,473 2.215,773 266,691 265,319 GOVAI 520,617 2,007, 726 Helen Keller International 191,059 121,976 509,662 164,516 High Impact Engineers Lead Exposure Elimination Project Open Cages Advocacy Ltd Netzwerk fur Effektiven Altruismus 109, 793 Rethink Priorities Shrimp Welfare Project, Ltd Transformative Futures Foresight Institute Type111 Ltd University of Cambridge Grants <£100K 311.204 172,980 412,511 269,469 209,501 2.296.468 1,891, 730 15.390,839 15,035,548 Page 29 Do¢ ID.. ad98b8e8e69314880863204b8679f1a307439fOe

EFFECTIVE VENTURES FOUNDATION (UK) IA company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2023 The Cambridge Effective Altruism Cic negative balance of £500,000 relates lo a repayment of a grant made in April 2022. 11 was repaid under the conditions of the grant after the grantee secured other funding. The Fortify Health negative balance of £318,720 in 2022 related lo a grant committed to in the 2021 year but had been withdrawn during 2022. Analysis of expenditure by activities Grant fundlng 2023 Support costs 2023 Total funds 2023 Dlrect costs 2023 Centre for Effective Altruism 11,428,790 5,184,612 1,482,140 17,428,371 10,299,501 635,110 994,728 12,423,518 5.184.612 18.910.511 7.508,738 18,443.349 80,000 Hours EA Funds & Giving What We Can Other charitable activities Total 2023 28,395,043 19,058,209 7,508,738 54,961,990 Grant fvnding 2022 Support costs 2022 Total fvnds 2022 Direct costs 2022 Centre for Effective Altruism 80,000 Hours EA Funds & Giving What We Can Other charitable activities 6,564,325 2,693,207 488,309 14,848,653 4,546,951 893,433 3,713,473 10,277,798 2,693,20T 15,336,962 7,531,790 2,091,406 Total 2022 14,292, 792 19,455,559 2,091,406 35,839. 757 Page 30 Do¢ ID.. ad98b8e8e69314880863204b8679f1a307439fOe

EFFECTIVE VENTURES FOUNDATION (UK) IA company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2023 Analysis of support costs Total funds 2023 Analysis of support costs- current year Books, Subscriptions, and References Contractors Depreciation and amortisation Foreign exchange gains Bank charges Governance costs Repairs and maintenance Office expenses Professional fees Rent Salaries Staff costs Travel Other costs Bad debts 297.188 756.260 14,843 {1,031) 31.711 69.150 655.705 978,323 1.943.792 481,485 1.728.970 244.988 201,609 104.145 1.600 Total 2023 7.508.738 Page 31 Do¢ ID.. ad98b8e8e69314880863204b8679f1a307439fOe

EFFECTIVE VENTURES FOUNDATION (UK) IA company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2023 Tolal funds 2022 Analysis of support costs - prior year Books, Subscriptions, and References Contractors Foreign exchange g8lnS Bank charges Governance costs 48,850 124,541 (79,064) 55,992 48,225 72,097 623,243 114,409 50, 704 167. 715 445,908 352, 792 66,000 Travel Office expenses Repairs and maintenance Other costs Professional fees Rent Salaries Staff costs Total 2022 2,097,406 Page 32 Do¢ ID.. ad98b8e8e69314880863204b8679f1a307439fOe

EFFECTIVE VENTURES FOUNDATION (UK) IA company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2023 10. Auditorfs remuneration 2023 2022 Fees payable lo the Company's auditor and its associates for the audit of the Companls annual accounts 31.500 26,000 Overrun fee Other services 27,000 3,500 3,500 11. Staff costs 2023 2022 Wages and salaries Soci81 security costs Contribution to defined contribution pension schemes 8.403.669 884,081 444,527 3,628,444 437,600 105,046 9.732.277 4, 171,090 During the year there were redundancy or termination payments made lotalling £79,252 12022 £14,9g91. No amounts were outstanding al the year end. The average number of persons employed by the Company during the year was as follows.. 2023 No. 2022 No. Charitable activities Support 86 16 36 13 102 49 Page 33 Do¢ ID.. ad98b8e8e69314880863204b8679f1a307439fOe

EFFECTIVE VENTURES FOUNDATION (UK) IA company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2023 11. Staff costs {continuedl The number of employees whose employee benefits lex¢luding employer pension costs) exceeded £60,000 was.. 2023 No. 2022 No. In the band £60,001- £70,000 In the band £70,001- £80,000 In the band £80,001 - £90,000 In the band £90,001 - £100,000 In the band £100,001 - £110,000 In the band £110,001 - £120,000 In the band £120,001 - £130,000 In the band £130,001 - £140,000 In the band £150,001 - £160,000 11 Aggregate employee benefits of key management personnel (inclusive of employers Nl and pension) were £394,27812022- £1,416,349). 12. Trustees. remuneration and expenses During the year, no Trustees received any remuneration or other benefits (2022 - £NIL). During the year ended 30 June 2023, expenses lotalling £8,655 were reimbursed or paid directly lo 2 Trustees (2022- £2,391 to 2 Trustees) for travel and subsistence. Page 34 Do¢ ID.. ad98b8e8e69314880863204b8679f1a307439fOe

EFFECTIVE VENTURES FOUNDATION (UK) IA company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2023 13. Intangiblg assots Domain names Cost At 1 July 2022 5,451 At 30 June 2023 5.451 Amortisation At 1 July 2022 Charge for the year 5.397 At 30 June 2023 5.451 Net book value At 30 June 2023 At 30 June 2022 54 Page 35 Do¢ ID.. ad98b8e8e69314880863204b8679f1a307439fOe

EFFECTIVE VENTURES FOUNDATION (UK) IA company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2023 14. Tangible fixed assets Freehold property Offlce Leasehold equipment improvements Total Cost or valuation At 1 July 2022 Additions 16.445.019 65.996 38.029 16.333 2.144.361 18.627.409 82.329 At 30 June 2023 16,511,015 54,362 2,144,361 18,709,738 Depreclatlon At 1 July 2022 Charge for the year 16,700 9,867 805,193 410,315 821,893 585.453 165,271 At 30 June 2023 165.271 26.567 1.215.508 1.407.346 Net book value At 30 June 2023 16,345,744 27,795 928,853 17,302,392 At 30 June 2022 16,445,Of9 21,329 1,339, 168 17,805,516 During 2023, additions totalling £65,996 (2022 - £f,468,6T9) relate to Lakeside property improvements, which are included within freehold propety. 15. Fixed asset investments In De￿mber 2022, EV UK ceased to be the sole member of EV USA. As a result, the financial statements for the year ended 30 June 2023 are not presented on a consolidated basis. This was effectively treated as a disposal in the Charity accounts. The cost of the asset was £nil and the proceeds received were £nil. Page 36 Do¢ ID.. ad98b8e8e69314880863204b8679f1a307439fOe

EFFECTIVE VENTURES FOUNDATION (UK) IA company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2023 16. Debtors 2023 2022 Due after more than one year Other debtors Due within one year Other debtors Prepayments and accrued income Tax recoverable 1.663.285 t,658, 799 37,597 9.983.321 958,682 81,490 965,932 204,535 12.642,885 2,970,756 17. Current asset investments 2023 2022 Cash equivalents on deposit 175,0(N) 18. Creditors.. Amounts falling due within one year 2023 2022 Trade creditors 613,867 682,464 260,299 3.388,731 812,645 2,700,484 3.352,129 Amounts owed to related parties Other taxation and social security Other creditors 179,973 31,394 600,535 636,617 Accruals and deferred income Grants commitments Grants to be returned 11.810,619 1,448,519 Page 37 Do¢ ID.. ad98b8e8e69314880863204b8679f1a307439fOe

EFFECTIVE VENTURES FOUNDATION (UK) IA company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2023 18. Creditors.. Amounts falling dug within ong year Icontinugd) 2023 2022 Reconciliation of grant commitments 2023 2022 Commitments al 1 July Commitments made in the year Grants paid during the year Grants returned during the year Grants withdrawn during the year 636,617 593,097 2,700,484 955,337 1546,714) (593,097) 189.903) (318, 720) Commitments at 30 June 2,700,484 636,617 Page 38 Do¢ ID.. ad98b8e8e69314880863204b8679f1a307439fOe

EFFECTIVE VENTURES FOUNDATION (UK) IA company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2023 19. Summary offunds Summary of funds- current year Balance at 30June 2023 Balance at 1 July 2022 Transfers inlout Income Expenditure Designated funds General funds Restricted funds 14.976,340 520.204 11,993.6311 13.502.913 14.601,491 19,312.334 {16,963,794) 111.574.5461 5.375.485 13,648,945 42,123,036 {39,344,586) 11,574,546 28,001,941 43,226,776 61.955,574 {58,302.011) 46.880,339 Summary of funds - prior year Salan￿ al 30 June 2022 Balan￿ at l July 2021 Transfers in/ouÈ Income Expenditure Designated funds General funds 14,976,340 14,976,340 9,970,035 15,038,678 (10.407,222) 14,601,491 13,402,044 40,655, 7T6 (25,432,535) (14,9T6,340) 13,648,945 Restricted funds 23.372,079 55,694,454 (35,839, 75T) 43,226. 776 Page 39 Do¢ ID.. ad98b8e8e69314880863204b8679f1a307439fOe

EFFECTIVE VENTURES FOUNDATION (UK) IA company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2023 20. Ststemgnt of funds Balance as at 30 June 2023 Balance as at 1 July 2022 Income Expenditure Tranrs Goneral funds General funds- all fund5 14.601.491 19.312.334 116.963.7941 111.574.5461 16,963,794 11,574.546 5.375.485 Total General fund5 14,601,491 19,312,334 5,375,485 Do4gnated funds D8gnal8d- Wyih8m Abb8y Total Unr88trlct8d funds 14.976.340 520,204 11,993,631) 1B,957,425 13.502.913 29,577,831 19,832,538 11,574546 18,878,398 Re*ricted fund5 EA Funds Gr8nlmaking GMWC Grenlmaking Oiscretionary Granlmaking 80,000 Hour8 IBOKI Community Building Grants EA Grants FHI Research Sth018rs Forelhoughl FoUndat￿n FHI General GiNing What We Can IGWW( GPI LE Projwl Ih8 Prè¢ipic8 Asterisk Adas Fellowship FTxP￿JeCts GOVAI Hanerd Square Low%iew Non-triiial Pursulls Open Philanthropy Oxford Accommodation Sp8cial Projects Wyth8rn Abbey Shared Otfice London ISOLI Ringf8Trced Funds Project Sol Bluedol lrnp8ct K&ndall Souar8 CEA Funds (Generall Total Restrf¢tod funds 10.372.499 12.307.303 2.880.098 29.602 7.379.956 202,342 14091 1123,6621 1.542.469 1,623.662 2.118,715 2.067.189 364,5991 12.136 117.534.5941 1176.8601 13.0761 4.968.348 2.8TI.022 29,602 6,138.698 1,918.507 1202.3421 409 129.358 1100.7411 1650,2571 537,468 1963.6211 471.620 65,775 144.1071 1652,4091 134.0811 2.151.938 19381 11,975,532) 810,814 127.756 14.7461 40,937 1.650.637 15,184.7651 2,025,000 15.6961 11.733.458) 1724.0021 1.316,240 1.024.511 249,403 1,516.022 50,199 107.022 77,911 195,1181 11.093.369) 40,000 1751.2501 117,8791 12.091.687) 184.5451 1148,6381 1818,4421 931 1128.8811 1438.9781 1,403,659 51.960 1.170.742 104,818 2.863,114 201,214 128,6881 50 1.231.044 19,334 738,945 193,585 1133.6271 191.157 1.650.637 589,198 3.352,129 3.580,291 22.774 499,682 141,000 13,352,129) 13,340,021) 1160.2981 1417.2331 1128,4821 240,270 137.524 82.449 12,518 6.740.496 91,513 6,740,4 91,513 13.648,945 43,226,776 42,123,036 61,955,574 39,344.5B6 58,302,011 11,574,546 28,001,941 46,880,339 Total of funds Page 40 Do¢ ID.. ad98b8e8e69314880863204b8679f1a307439fOe

EFFECTIVE VENTURES FOUNDATION IUKI {A company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2023 The restricted funds are described below- EA Funds Granlmaking - These Funds aim to be the easiest way for sm811 or early stage projects aiming to do an ambitious amount of good to receive funding. EA Funds currently focussed on improving the lives of people in extreme Fx)verty, improving the wellbeing of non-human animals, supporting the Effective Altruism community and making the long run future go well. GWWC Granlmaking - These are funds donated to EV through the GWWC donation platform. They are used to make grants to partner charities and organisalions recommeded by GWWC. Discretionary Grantmaking These funds represent donations to EVF that are used lo make onward grants at EV'S discretion. 80,000 hours - 80,000 Hours is a project that provides research and support to help people enter careers that effectively tackle the world's most pressing problems. Community Building Grants - An inactive program and reslriclion, all associated income and spend was associated with the Community Building Grants program run by CEA, the organisalion. EA Grants - An inactive program and restriction, all associated income and spend was associated with the Community Building Grants program run by CEA, the organisation. FHI Research Scholars An FHI program, inviting scholars from around the worfd to learn macroslrategy-driven research strategies for questions about the long-term future. Forethought Foundation The Forethought Foundation project aims to promote and communicate academic and nonacademic work that addresses the question of how lo use our SCa￿e resources to improve the world by as much as possible. Forethought supports and promotes individuals and institutions working on global priorities research, furthers and develops effective altruism and longtermism as ideas, and promotes and presents the ideas of effective altruism and longtermism in so￿al and traditional media, in person, and within academia. FHI General - Funds held for support of the Future of Humanity Institute, a multidisciplinary research institute al the University of Oxford with the mission to bring the tools of mathematics, philosophy and social sciences to bear on big-picture questions about humanity and its prospects. Giving What We Can IGWWCI - GWWC inspires donations to the world's most effective organisations. GWWC'S FY23 objectives included launching a new donation plafform, building out our research capacity and increasing new donors and pledgers. This fund represents the operational costs of the project las distinct from GWWC Granlmaking funds above). GPI Funds held for support of the Global Priorities Instititute, an interdisciplinary research centre al the University of Oxford with the mission to conduct foundational research that infoms the decisionm8king of individuals and institutions seeking to do as much good as possible. GPI uses the tools of multiple academic disciplines. especially philosophy and economics, to explore the issues at stake. LE Project- An inactive program and restriction, from the Longtermisl Entrepreneurship project. The Precipice Royalties and misc income for the grantmaking operations associated with The Precipice, a book about the science behind the existential risks humanity faces. Asterisk Asterisk is a quarterly journal of writing and clear thinking designed to educate the public about things that matter. Do¢ ID.. ad98b8e8e69314880863204b8679f1a307439fOe

EFFECTIVE VENTURES FOUNDATION IUKI {A company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2023 Atlas Fellowship - Atlas focuses on engaging young people with a particular focus on high sch(K)I students. Atlas spun out and became an independent entity during FY23. FTX Pmjects - Income and expenses associated with projects supported by FTX Foundation. This fund became inactive during FY23. GOVAI - Its mission is to positively shape the lasting impact on the wodd of Artificial Intelligence l°Al"I, by helping key institutions make better decisions. GOVAI furthers this mission by producing helpful research and by developing and placing Al governance talent. Harvard Square A project primarily of EV US to provide coworking Spa￿ for oganisations in the Effective Altruism movement. EV UK incurred a small amount of expenditure on this project, which has been funded by grants from EV US. Longview Longview educates and advises philanthropists on their charitable giving and conducts research into existential and calaslrophic risks. This involves educating people about the world's most important problems, hosting events lo connect philanlhropisls and experts, and researching and recommending grants. Non-trivial Pursuits That project aims to educate young people about the worfd's most pressing problems by running an 8 week intensive program. Open Philanthropy Income and expenses associated with projects supported by Good Ventures Foundation. Currently supporting book dislribulion. Oxford Accommodation Incoming grants and expenses for Lakeside, an accommodation in Oxford. Special Projects Income and expenses associated with independent researchers and other specialprojects. Wytham Abbey - Wytham Abbey was purchased on 1 April 2022. This project aims to run educational conferences on areas which are directly related to the charity s mission, and to create a space for researchers to collaborate on globally significant problems. Project Solve That project aimed at engaging young people in solving the worfd's most pressing problems. This project ceased operations following the collapse of FTX arKI resultant loss of its only source of funding. Bluedol Impact - BILJedol Impact is a fiscally sponsored project of EV UK. It focuses on building online COLJrses that support people to use their careers lo solve some of the world's most pressing problems. Kendall Square a project primarily of EV US to provide coworking space for organisations in the Effective Altruism movement. EV UK incurred a small amount of expenditure on this project, which has been funded by grants from EV US. Ringfenced funds - During the year, EV UK ring fenced all funding received from FTX Foundation. After the year end lin November 2023), EV UK reached a settlement agreement with the bankruptcy estate of FTX, which provided a general release from all possible claims from the FTX estate. As part of that settlement, EV UK made a payment lo the bankruptcy estsle using the funds that had been ring fenced. Restrlcted funds In deflclt Asterisk- The deficit arose due lo spend in EV UK that needed to be reclaimed via a project operated by EV US. Following the year end, a grant was agreed by EV US lo clear EV UK'S balan￿. Do¢ ID.. ad98b8e8e69314880863204b8679f1a307439fOe

EFFECTIVE VENTURES FOUNDATION IUKI {A company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2023 Atlas Fellowship - This was a joint project of EV US and EV UK and spending occu[￿d in both entities. All the funding was received into EV US and the funds remaining on the collapse of FTX were ringfenced by EV US. A transfer of £1,403,659 has been made from unrestricted funds lo cover this deficit. Oxford accommodation - No dedicated funding was received for this project due from FTX Foundation as had been expected. The property is now on the market and the fund deficit will be cleared from consideration. Project Solve - funding was received from FTX Foundation into EV US, however spending occurred through EV UK and then the US funds were then ring fenced as part of the restructure, leaving a deficit in EV UK. A transfer of £137,524 has been made from unrestricted funds lo cover this deficit. Funds transfer: During the year a transfer of £3,076 was made from Giving What We Can IGWWCI lo EA Funds Granlmaking and Gov Al. As part of it's "Giving Game. campaign, GWWC used some of ils general budget lo fund regranting lo certain partner organisations and charities. During the year a transfer of £20,000 was made from CEA to GPI. CEA made a grant lo GPI relating lo a jointly run workshop, via funds held at EV. During the year a transfer of £159,886 was made from EA Funds Grantmaking. EA Funds made a grant to CEA lo fund travel costs for attendees al educational conferences. During the year a transfer of£20,000 was made from EA Funds granlmaking to GPI. EA Funds made a grant to GPI to fund its a¢tivib'es, via funds held at EV. With permission of the donor involved, CEA made a transfer lo 80,000 Hours of funds tolalling £2,025,000 held by EV UK and an equal and opposite transfer was made between funds of EV US. This had the effect of lengthening the UK runway of 80,000 HoLJrs. With permission of the donor involved, CEA made a transfer to Forethought Foundation of funds totalling £1,316,240 held by EV UK and an equal and opposite transfer was made between funds of EV US. This had the effect of lengthening the UK runway of ForelhoLJght Foundation. In prior years, the "CEA" and "Funds IGenerall' funds represented core activities of the charity and were funded by unrestricted grants to the charity (previously called 'Centre for Effective Altruism'l. Over lime, and following the charitys growth, funding received for those activities has become restricted to CEA and EA Funds as projects of EV. The year end balan￿$ are therefore now classified as restricted funds. A transfer has been made to transfer these fund balances from unrestricted to restricted. Designated funds During the prior year, the purchase of Wylham Abbey was completed. As the Charity has met the donorfs wishes, this fund is no longer restricted and so a transfer was made to transfer this to designated funds. Do¢ ID.. ad98b8e8e69314880863204b8679f1a307439fOe

EFFECTIVE VENTURES FOUNDATION (UK) IA company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2023 Statemont of funds - prior year Balan￿ at 30 June 2022 Balance at I July 2021 Transfer in/{out) Income Expenditure Designated fvnds Wylham Abbey 14,976,340 14,976,340 General funds General Funds - all funds 9,970,035 15,038,676 (10,407,220) 14,601,491 Total Unrestricted funds 9,970,035 15,038,676 (10,407,220) 14,976,340 29,577,831 Restrlcted funds EA Funds- Granlmaking 80,000 Hours Community Building Grants EA Grants FHI Research Scholars 8,005,580 17,097, 148 114, 730,230) 4,364,657 473,908 (2.920,058) (185,826) (16,516) 409 132, 746 769,374 (106,080) 10,372,498 1,918,507 (202,342) 409 129,359 (100, 742) (650,257) (3,387) 11,964,417) (843,892) Forethought Foundation FHI General Giving What We Can IGWWCI GPI LE Project The Precipice Asterix Atlas Fellowship FTX Projects GOVAI 1,094,295 299,775 292. 760 (408,685) 478, 794 58,315 780, 129 (535,420) 537,469 1554,937) (963,627) (7, 173) 471,621 f15,822) 65.775 (44, 107) (44, 107) (652,409) (652,409) (34,087) (34,087) 1683,938) 2,151,938 (938) (938) 11,977, 704) (1,975,532) (72,361) 81 0,814 (36,708) 127, 756 (4, 746) (4, 746) 61,613 (20,676) 40,937 17,000,000 (373,023) (14,976,340) 1,650,637 13,402,044 40,655, 778 (25,432,537) (14,976,340) 73,648,945 23,282 2,835,876 Harvard Square Lonqview Non-trivial Pursuits 2,172 823, 175 164,464 Open Philanthropy Oxford Accommodation Special Projects Wylham Abbey Total Restricted funds Totsl of funds 23,372,079 55,694,454 (35,839,757) 43,226, 776 Page 44 Do¢ ID.. ad98b8e8e69314880863204b8679f1a307439fOe

EFFECTIVE VENTURES FOUNDATION (UK) IA company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2023 21. Analysis of net assets bgtwggn funds Analysis of net assets between funds - current year Unrestricted Restricted funds funds 2023 2023 Total funds 2023 Tangible fixed assets Debtors due after more than one year Current assets Creditors due within one year 17,302,392 17,302,392 1,663,285 1.663.285 13,386,625 26,338,656 39.725,281 {11,810,6191 (11.810.619) Total 18,878,398 28,001,941 46,880,339 Analysis of net assets between funds - prior year Unrestricted fvnds 2022 Restricted funds 2022 Tol81 funds 2022 Tangible fixed assets Intangible fixed assets Debtors due after more than one year Current assets 17,805,5f6 17,805,516 54 1,658, 799 1,658,799 13,220,780 11,990,746 25,270,926 (1.448,5f 9) (1,448,519) Creditors due within one year Total 29,577,831 13,648,945 43,226, 776 Page 45 Do¢ ID.. ad98b8e8e69314880863204b8679f1a307439fOe

EFFECTIVE VENTURES FOUNDATION (UK) IA company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2023 Roconciliation of ngt movemgnt in funds to ngt cash flow from opgrating activitigs 2023 2022 Net income for the year las per Statement of Financial Activities) 3.653.563 19,854,697 Adjustments for- Depreciation charges Amortisation charges Dividends, interests and rents from investments Increase in debtors Increaselldecreasel in creditors 585,453 416,714 1, 799 (12,196) (632, 725) (183, 197) 1166.329) {9.732,1291 10,362,100 Net cash provided by operating activitiOS 4.702,712 19,445,092 23. Analysis of cash and cash equivalents 2023 2022 Cash in hand 28.745,681 23,783,969 Total cash and cash equlvalents 28.745,681 23.783,969 24. Analysis of changes in net debt At 1 July 2022 Cash flows At 30 June 2023 Cash at bank and in hand Liquid investments 23,783.969 175.000 4.961.712 28.745.681 1175.000) 23,958.969 4.786,712 28.745,681 Page 46 Do¢ ID.. ad98b8e8e69314880863204b8679f1a307439fOe

EFFECTIVE VENTURES FOUNDATION (UK) IA company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2023 25. Pgnsion commitments The Charity contributes lo personal pension plans of certain employees. At the year end there were outstanding contributions of £48,710 (2022- £23,97 7)- 26. Operating lease commitments At 30 June 2023 the Company had commitments to make futLJre minimum lease payments under non- cancellable operating leases as follows.. 2023 2022 Not later than 1 year Later than 1 year and not later than 5 years 696,174 1.157.609 832, 7 12 1,880,972 1.853,783 2,773,084 The following lease payments have been recognised as an expense in the Statement of financial activities.. 2023 2022 Operating lease rentals 858,789 787,534 Page 47 Do¢ ID.. ad98b8e8e69314880863204b8679f1a307439fOe

EFFECTIVE VENTURES FOUNDATION (UK) IA company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2023 27. Rolatgd party transactions During the year, royalties were earned totalling £5,441 (2022.. £35) on Trustee, Will MacAskill's book, "Doing Good Better .' How Effective Altruism Can Help You Make A Differenee" Royalties of £12,136 12022.. £22,865) were eamed on Trustee, Toby Ord's book "The Precipice" and £119,614 eamed on Trustee, Will MacAskill's book 'What We Owe The Future.. Indirect benefits are expected to be received as readers learn more about Effective Altruism, they will be inspired to donate lo Effective Ventures Foundation IUK}, or the recommended charities. As at the year end, the Charity had oulstsnding balances owed to Effective Ventures Foundation USA of £682,464 {2022.. £Ni4 for transactions incurred during the year. As at the year end, the Charity had a grant income debtor of £2,645,331 {2022.' £Nil) outstanding from Effective Ventures Foundation USA. During the year, the Charity received donations from FTX Foundation tolalling £2,766,546 {2022.' £1,478, 7081. One of the Board of Trustees for the Charity was also the CEO of FTX Foundation during the year. Howie Lempel was the Chief Execitive Officer of Effective Ventures Foundation during the year. Also during the year, his partner was an employee of the Charity. One of the charity's Iruslees, Claire Zabel, is employed as a program director al Open Philanthropy, our largest funder. As a result of that position, Claire has significant influence over some of the funding decisions made by Open Philanthropy in relation lo several of the charity's projects. During the year, the Charity re￿iVed grant income from Open Philanthropy totalling £39,037,949 (2022.. f38,285,6881 and reimbursements of £8,200 12022.. £Nil). As al the year end, the Charity had a grant income debtor of £7,691,110 (2022.. £164,464) oulslanding from Open Philanthropy and grants creditor for grants lo be returned of £3,352,129 (2022.. £Nil). There were no other related party transactions. 28. Contingent liabilities in prior year After the end of the prior year end lin November 20221, one of EV UK'S and EV Us's larger funders, FTX Foundation IFTXFI, filed for bankruptcy protection in the USA. 11 was possible that the bankruptcy pro￿edIngS would lead lo claims against EV US and EV UK to retum fLJnds received from FTXF andlor other related organisalions. In the prior year, the timing and amount of any future liability arising from such claims was uncertain. In the current year, this is now known and a settlement has been agreed. As such, a liability has been recognised in the accounts as at 30 June 2023 (see Note 71. Post balance sheet events In November 2023, the Trustees of EV UK decided that the charitable purposes for which the charity was sel up would be best served by spinning out all of the projects which are currently fiscally sponsored by EV UK, into new independent entities. This process is expected to take between one and two years. The board of EV UK does not intend to fiscally sponsor new charitable projects, once the existing projects have spun out. It is therefore expected that EV UK will eventually wind down lin 2025 or beyond). Page 48 Do¢ ID.. ad98b8e8e69314880863204b8679f1a307439fOe