DoGusign Envebpe ID". 865862A1.B44NCB4.819KE1 D637305ED Company registration Iiumber.. 08908420 Charity registration number.. 1155954 The OVO Charitable Foundation (A company limiied by guarantee) Annual Report alld Financial Statements for the Year Ended 31 December 2025
DoGusign Envebpe ID". 865862A1.B44NCB4.819KE1 D637305ED The OVO Charitable Foundation Contents Page(s} Reference and Administrative Details TTUStees' Report 2to15 Statement of Trustees, Responsibilities Independent auditors, report 17to20 Statement of Financial Activities Balance Sheet 22 Cash Flow Stat¢m¢nt 23 Notes to the Financial Statements 24to28
DoGusign Envebpe ID". 865862A1.B44NCB4.819KE1 D637305ED The OVO Charitable Foundation Refer¢n¢¢ and Administrative D¢t#ils Tru5t¢es l Directors Gina Cicerone Katherine Goldsmith Phillip Kerr), (resigned 2 June 2026) Thomas Wilson Roseanne Baxier Alexandra Doorey (resigned 28 November 9025) Mahnoor Kamran Innocent Mutinidi Thomas Whittle (appointed 2 June 2026) Principal aMd Registered Office Floor 5 Crescent Temple Back Redcliffe Bristol United Kingdom BSI 6EZ Company Registration Number in 08908420 F.ngland Charity Registration Number in England 1155954 Independent Auditors Pricewaterhousecoopers LLP Chartered Accountants and Statutory Auditors 2 Glass Wharf Bristol BS2 OFR Page I
DoGusign Envebpe ID". 865862A1.B44NCB4.819KE1 D637305ED The OVO Charitable Foundation Trust¢¢s' Report The trllstees (who are a150 the charitable company'5 director5 for the PUTP05es of coinpany law) present their TrL15tee5' report to(Tether with the audited Financial Stateineiits of the charitable company for the year ended i I December 2025. These Financial Stateineiits have been prepared under FRS 102 and the Charity SORP {FRS102). The OVO Charitable Foundatioi) ('OVO Foundation'l is OVO Energy Ltd's ('OVO') charity. The trusteeg, report also eoiitains infomjation required in a directors, report as required by company law. Page 2
DoGusign Envebpe ID". 865862A1.B44NCB4.819KE1 D637305ED The OVO Charitable Foundation Trust¢¢s' Report A note from our Chair OVO Foundatioll 15 committed to tackling climate change while ensurinbF a just transition to net zero. We exist to inspire childreii and youiig people, aiid give them support to thrive on a protected planet. By partnering with brilliant charities. OVO Foiiiidation helps youiib people coi)nect with nature, leaTn green skills. build eommunities. and make their voiees heard- ii) schools and beyond. 2025 was the UK'S suni)iest and wam)egt year on record. It has therefore been promising to see continued attention on cliinate action at a national level this year. The UK gowen)ment's first annual Climate and Nature statement. for example, recognised the link betmeei) cliinate action and biodiversity prtstection. This is particularly relevant to the work that OVO Foundatilin supports with children and young people across the UK. exemplified through projects such as the OVO Foundation Nature Prize. We were also delighted to support Students Organising for Susiainability UK'S (SOS UK) shadow Curriculum and Assessment Review (SCAR) which ensured that young people shaped the Department for Education's (DtEI final report, and resulted in the recommendation of stronger climaie education and sustainability CL)nteni acrL)ss the curriculum. Our commitment 10 climate education and action hgs been bolstered this year by our svstems change approach which seeks to address the root causes of issues, rather than just the symptoms. Considering change at a systemic level has led us to focus our grant making not only on the direct delivery of activities with children and young people but to also influence the other areas Ihat currently prevent them from accessing quality climate education and opportunities. Following the publication of our State of Climate Ediication report in 2024, 'e have increased our grant making focused on advocacy. The SCAR is a notable example of this, and ultimately seeks to infliience policy in order to brin£ about long-terni change. Equally. we lauiiched our Climate Campaigning Fund in 2025 to siipport our partners with opportunities to engage MPS and policy makers. This Fund enabled SOS UK to run three events at the ?025 autumn political party conferences. where students leading their Teach the Future campaign shared their visioii and priorities for quality climate ediication. In addition, we have lauiiched new gFrants focused oil ueen skills follom'ing initial work with Impatience Earth in 2024 to better understand where we can have the gFreatest impact within this emerbTin¥ theme. We Iiave started 'orkin¥ with both the New Economics Foundation (NEF) aiid Green Alliance on youth and gyreen skills research. NEF will be exploring how gFreeii job5 can be route5 Out of youth unemployment but Iieed to also consider the balerS which have to date made national progFramme5 inaccessible for tnany. Green Alliance, eanwhile, will be analy5in¥ how the gFreeii and Al tran5ltions will reshape ski115 demand acros5 12 Sectors by the mid-2030s. We look forward to sharing the findings from this research in 2026, with a parliamentary reception anticipated to engage policymakers as well as other funders, employers and young people. We were also pleased to see our Roots & Routes Fund launch this year. It is hosted by The Blagrave Trust and also in collaboration with Energy Saving Trugt Foundation. Co-op Foundatioi) and Impatience Earth. The Fund focuses oli supporting the youi)g people underrepresei)ted in the Llimate justice space. In ?025 we collectively funded six youth-led organisations and ihree individual young climaie justice changemakers. The Roots & Routes Fund is having a greaier impact by also funding the infrastruciure organisations M,ho they work 1th, who will be receiving grants in earl}. 2026. Next }'ear we will also be focused L)n continuing to build the evidence base for youth-led climate justice and gathering leamings from working alongside other funders in this innovative way. Page 3
DoGusign Envebpe ID". 865862A1.B44NCB4.819KE1 D637305ED The OVO Charitable Foundation Trust¢¢s' Report OVO has alm'ays been a Bri5tol-based company, so we were deligFhted to beuiii supporting ?24 Youth Zone, located iii the south of the city, a5 a Founder Patron. More than just a Youth Centre, 2?4 Youth Zone will be a Safe environment for young people in South Bristol to discover their pas5iOI)s and unlock tlieir potential. OVO Foundatioii is workiiig with 224 Youth Zone to make cliinate education and Iiature immersioii a core part of the provision. By supportii)g a space outside of forynal education we are pur5uiiig our Systems change approach to our w'ork, ensuring that more children and youi)g people build knowledge, skills and confidence to take climate action through hands-on leamiiig. We look forward to supporting 224 when it opens in suminei 2026. As part of our sygtems change thinking, we've incieasingly coi)sidered how we fund too. Ii) 20?5 we signed the Institute for Voluntary Action Research's {IVARI funding commitments. These commit us to adopting more open and trusting practices thai reduce the burden on those we fund. More details on our approach to these commitments can be found in ihe report. Alongside these new areas in 2025, our long-standing 'ork has coniinued in schools and communiiies across the UK. Our Climate Changers programme supports children and young people wilh greater access to quality climate education and nature. During Ihe 2024125 academic year. we have created green spaces in 25 schools across the UK through the OVO Foundation Nature Prize, bringing our total to 75 to date. We've also helped 170 schools 10 save a total of £597,000 on their energy bills Ihrough oiir work with Energy Sparks. Our work with Apps for Good has supported over 6,000 students to develop digital skills by creating climate action app prototypes, and supporting SOS UK'S Teach the Teacher programme has enabled hundreds of students to talk to their teachers about the climate and ecological crises and demonstrate how climate education can be 0Ven through the entire curriculum. We have also supported 13 partners through our Community Impact programme. During the 202412025 grant temi. our charity partners engaged over 4,000 children and young people in increasing community acces5 to local green spaces, and offering opportunitie5 to take climate action. These partners are largely bascd in Bristol. London and Glasgow where OVO has offices ,hiCh means that, in addition to the grants we provide. we can also en¥a¥e OVO staff to volunteer their time too. We are extremely grateful to OVO, their customers and staff for their coiitinued support of the Fouiidation. We are also thankful to our partners for their tireles5 hard work and detenninatioii to 511PPOrt children and youiig people. Fiiially, I would like to thank Alex Doorey who departed OVO and OVO Foundation's Board this year and showed great support and dedication to our work. Gina Cicerone Chair of Trustees Page 4
DoGusign Envebpe ID". 865862A1.B44NCB4.819KE1 D637305ED The OVO Charitable Foundation Trust¢¢s' Report Introducing The OVO Charitable Foundation A greener, brighter future for the next generation In 2014, Th'e launched OVO Foundation - OVO'S climate-focused charity. Ever since, we've been here to inspire childreii and youiig people and gFive them siipport to thrive on a protected planet. By providing funding for brilliant charities, we help young people connect with nature, learn green skills, build eoinmunities. and make their voices heard. This leads to less ecowanxiety. better wellbeing. and a lifetiine of elimate action. The changemakers of tomorrow Fighting the climate crisis is a shared responsibility. But it-s children and yL)uiig people that it will atTect most. So it's our mission to give them the education. opportunities. and support the}, iieed 10 stand up for our planei. Young people are the changemakers of tomorrow. We're committed to improving their lives right nL)w, and setting them up for the future. It's w,here 'e know we can make the biggest impaci. Here's a snapshot of our work A'ardIng schools with prize funding to make their grounds greener Helping studenis make their schools more energy efficieni Giving young climate activists a plgiform 10 influence decisions and policy changes Teaching young people how to use tech 10 help the environment Campaigniiig for bctter climate educatioii and action Setting up green job placements for young people and researching green skills Ernpoivering communities to spend time in nature, and kickstart local climate action Our customers are the key Everythiiig we do at OVO Foundation is funded by generous donations from OVO customers. And 100% of that oney goes directly to thi5 work. 2025 achievements Over £1.5 million granted to our charity partners in 2025 More than 25,000 children and young people benefited from the projects that we supported Access to green space and nature increased in 25 schools as pan of the OVO Foundaiion Nature Prize 170 schools saved a total of £597.(100 on their energy bills lin the 2024125 school year) through OVO Foundation's support of Energy Sparks We woii Silver for Besi Foundaiion at the Corporate Engagement Awards Page 5
DoGusign Envebpe ID". 865862A1.B44NCB4.819KE1 D637305ED The OVO Charitable Foundation Trust¢¢s' Report Our role 8 funder Making change happen We know that to create lastingF changFe. M'e need to be there every step of the way. Froin makiiig sure all childreii have gFreeii space5 111 their local area, to traiisfom]ing cliinate education in schoo15, to giving young people the right skills for the green careers of the future. We take these steps by parthering with charities: and funding projects that make a significant impact in schools and local communities. At the san)e time. we wai)t to tackle the root of the issues young people fate, ai)d the barriers in the May of green careers. So we also support researcl) and share everything we lean) with other charities, youth activists. and policymakers. All of our grant making is guided by our theory of change. and we continue to focus on how we can achieve systemic change in all of the work thai we support. Six Conditions of Svstems Change Over the last two year5 we have embedded FSG'5 'Six Conditions of Systems Change , shown above, into our gra]itmaking decisions and practices. Thi5 'inverted triangle" frainework illustrates that systemic inequity can be tackled by addressing visible, stnjctural factors alongside iiivisible. transfom]ational elenients. The 'condition5' at the tliree levels of Structural, Relational and TraiisfoTmative change are Policies, Practices, Resource Flow5, Relationsliips & Connections, Power Dynainics aiid Mental Mode15. These are the coiiditions lioldin¥ social and el1vironenlaI probleins in place and are intertwined. Workin¥ acros5 multiple coiiditlOll5 and particularly includin¥ the iinplicit and semi-explicit 'mental niodels,, 'relationship5 & connecti0115' and 'power dyiiamic5' coiidit10115 will result iii la5tillg iTnpact. As a funder. the framework has been a helpful tool to guide decisions about the types of work that we fund. Moreover. it has also helped us io consider and improve our own practices in order to ensure we achieve the greatest impact possible. Our commitment to tlexibility As outlined above, we have made great strides in our commiiment to systems change over ihe pasi two years. During this process we came to the realisation that we should not only be examining what we fund, but also our behaviour as a grant maker. This resulted in us committing to the IVAR 'Open and Trusting, funding commitments in 2025. which recognise thai voluntary organisations should be supported through more flexible funding in Lirder to deliver better outCLimes for communities. The eight commitments are.. Don't wasie time Ask relevani questions A¢cepi risk Act with urgency Be open Be flexible Communicate with purpose Be proportionate While we were already doing well in some of these areas. as the feedback from our partners in our 2024 grantee sueY demonstrated, sitwning up to the commitments has impacted how M'e make and manage grants. The iminediate actions we have taken are updating our reporting and grant agreement ten)plates to ensure they are as concise as possible. updatin¥ our application processes w'htrt possible, and 5iinplifyin¥ our due dili¥ence. We 'ill endeavour to continue embedding these commith)ents into all of Our grant inaking and grant managemei)t ¥oin¥ forwdrd. aiid regularly review our pro¥res5. Page 6
DoGusign Envebpe ID". 865862A1.B44NCB4.819KE1 D637305ED The OVO Charitable Foundation Trust¢¢s' Report Collaborating with other funders In ?024 Il'e beuaii developing a pooled 1]d with the Blagrave Trust, Energy Saving Tn]5t Fouiidation, Co-op Foundatioii and Impatieiice Earth. Thi5 lauiiched in 20?5 as the Roots & Routes Fund. and seek5 to siipport those undetTepresented in the climate jiistice space as well as the infiastructure orgFani5ations that they depend on. By supportii)g yoiith-led orgaiiisations. individuals and infrastTUCture we are haviiig a greater role across multiple systems change conditions. In addition. this model reduces risk for funders who have typically avoided fui)dii)g individuals and sinaller organisations. In 2025, we lunded six youth-led organisations and three individual yout)g climate justice changeinakers. You cai) find out more about them in the report below. Working with OVO We are prliud to have the continued support of OVO in matching OVO customer donations to the Foundatilin and covering our costs. which means that all of ihe funds raised go directly to our work. Plan Zero OVO Foundation's work fomis a core part of Plan Zero, OVO'S sustainability strategy. This strategy is based around three pillars.. Climate, Customer and Culture and sets out how OVO will become a net zero biisiness by 2035. Our fiinded projects drive towards a greener future for the next generation, customers support our mission with their generous donations and OVO People support Ihrough volunteering. Volunteering As OVO'S charity, we are able to harness the support of OVO People to ensure the projects that we support make the greatest impact. A key opportunity for this is volunteering, where we gain the time, skills and dedication of OVO stsff to siipport our partners. We also have a dedicated internal 'Friends of the Foundation, ne.Ork, a group of nine OVO colleagues who are dccply engagcd in our work. Each Friend is biiddied with one of our charity partners, enablin£ us to build even deeper relationships with them. They receive regFular support and iietworkin¥ from the OVO Foundation teain and are a valuable resource to chainpion our work across the company. Case Study In July ?025, Hatnmer5mith Community Gardens welcomed 8 voluntee[5 from OVO to help on their Phoenix Farin 5lte in White City. The fann 15 a valuable resource for local schools, coinmunitj. ¥roup5 and residents. With several glasshouses, polvtunnels. beds and wildlife. there's plenty of opportunities lor volunteers to support- with tasks varying froin weeding, watering. dIoIn& harvegting. pruning, and repairing raised beds. 'It was great to be outdoors and doing something productive as a team for the local commuiiity. The organisers were very helpful and engaging. We were givei) enough trust and ownership of the tasks we were doing. but they were always there to offei guidance whei) needed. It Mas fun to do soinething that's so different to the day job and know you're making a positive impact L)n the chariry. The day was refreshing, tiring and great for team building. Plus I felt a great sense of achievement at the endl" OVO Volunteer Page 7
DoGusign Envebpe ID". 865862A1.B44NCB4.819KE1 D637305ED The OVO Charitable Foundation Trust¢¢s' Report Our funded programmes Climate Changers Oiir lonuF.staiidiiig Climate Changer5 programme 5UPPOrts climate action and education projects iii schools and ediicational settiiibFs across the UK. We've committed more than £2.5in of funding to this area of work since 2020, when Energy Sparks joined the progTamme. We have been M'orking with Ashdeii, SOS UK and Apps for Good siiice 2022 ai)d have hiuFhligFhted some of the achievements over the last three years below. We have also pointed to how we will be working with these partners into 2026. EnergF Spur Energy Sparks provides a school-specific energy management tool and educatiot) programine for pupils and staff that Combines data from sn)art n)ttets. solai monitoring systems, schotsl Lalendars and weathei data to provide tailored energy-savin¥ insights and caTbon-eutting actitsn prompts. A unique feature of Ei)ergy Sparks is the way that pupils are supporttd to use real-miorld energy data to infonn energy saving and educational activities. OVO Foundation funded 170 schools using Energy Sparks during the 20?4125 academic year. The average electricity saving for Ovo-funded schools, was 8 /0 for primarv schools and 6/0 for secondaries, resulting in an average saving of £ 1.000 and 0.9 ionnes of C02 for primaries, and £10,500 and 7.5 ionnes C02 for secondaries. •of the l J6 scholils with enough data to make comparisons frlim previous year We have continued our partnership with Energy Sparks for Ihe 202512026 school year, in which we continue to fund 170 schools to access the plarform, as well as 30 educational workshops for students to deepen their engagement with climate education. A.vhd£ We nded the OVO Foundation Natur¢ Prize- part of Ashd¢n's Let's Go Zero campaign - for 3 years between 202?_20?5. awarding schaols either £1,000 or £200 to implemeiit nature-focused projects that increased access to iiatllre among their studcnts aiid coinmunities. Over the three years. 75 schools across the UK have received nding for a wide range of projects that spanned from onsite apiaries to creating wheelchair ac¢essibl¢ allotments. Each winiiing project was Selected based on its potential to kick-start climate action, bringF students and coinmunitie5. particularly those with least access to nature, closer to it. aiid boost biodiversity on school ground5. To date the Nature Prize has reached 35,632 student5 and 4.660 staff: alongside the 75 coillmunities of the winning schools. One of our winning schools shared.. 'We are so excited to wii) this prize as it will help us to develop our butterf]y garden which will be dedieated to Dr Jane Goodall. Our aim is to encourage as many butterf]ies onto our n)eadtsw which is at the botton) of our school field and become part of the butterfly corridor in Kent. The older children can't wait to teach our younger childrei) all about the life cycle of the butterf]y and why they are so importaiitl-" Ms de Roeck. Deputy Headteacher. Goat Less Primary School. In our continued partnership with Ashden, in 2025n026 w'e are awarding 30 schools with a £500 prize to implement a nature project across one of three areas.. Adaptation and Resilience, Green Skills. or Community. Page 8
DoGusign Envebpe ID". 865862A1.B44NCB4.819KE1 D637305ED The OVO Charitable Foundation Trust¢¢s' Report Skudenls OigonisiKg}or SuslainabilEtv-UK (SOS-UK) The DfE'5 Sustainability and Climate Cliange strategy strategy provides a policy framewoTk for better quality, inteurated climate education, but teachers do iiot receive specific trainingF iii how to deliver this, and SOS UK'S research shom's that they often lack ski115 and confideiice. Since 2022, 468 Students have been 5UPPOrted throii the Teach the Teacher project to talk to their teachers about the sustainability topics they recogFnise as important, including trainee teachers in ITE settings. Of the 300 pupils who provided feedback, 98 /0 said that participating in Teach the Teather has helped them believe they can l)ave a role in taking actioi) 01) climate chai)ge in their school. 93/0 of teachers reported in)proved understai)ding of the perspectives of young people relating to climate. In 2024125. SOS UK expanded their project delivery to include Teach the ParenL which supports young people in thlking to their parents. guardians and carers about a variety of sustainability topics and what they can dLI to address them. FolloM'ing models of behavioural change theory. easily accessible resources are given to young people 'hO are contemplating action but facing barriers of knowledge or CL)nfidence. 28,391 young people were reached through ihe campaign. majoriry via social media of the young people taking part. Continuing our work with SOS UK in 2025126, we are supporting ihree strands of activity.. Teach the Pareni, focusing on ITE settings to reach teachers early in their career, Teach the Future, which will use advocacy and influencing to lock in curriculum reform long-temi, and a development pathway for children and young people offering training mentoring, and recognition for individual and collective action. App.sfor Gnfjd Innovate for Climate Change is a creative technology coiirse that educates young people about the climate crisis and supports them to develop app prototypes that can help tackle it. Over our 3 year grant with Apps for Good, the course directly engaged 15,892 studcnts a(Ted 11-14 and 382 teachers across 285 schools. Notably, 600/0 of the participating schools operated in challcnging circumstances. The project also benefited from the support of OVO etnplo)'ee voliilitee, woA(ing directly with our student5, sharin¥ insights and career experience. as well as giving them valuable feedback on their app idea5. Both students and teachers report strong positive outcoines, validatin¥ the effectiveness of the project-based learninu inodel.. Ski115 Development.. 84Q/o of students reported improvingT essential ski115 such as problem-solving, teamwork. and creativity. Furthemlore, 69/0 of students iinproved their digital skills. including prograinming, codiiig. and product design. Climate Action.. 64/0 of students reported an increase in confidence and inspiration to take climate action as a result of the course. Teacher Confidence.. IOO°/o of responding teachers reported increased conlidence in teaching about climate change and recognised the value of integrating computing with a cliinate context. Innovation.. Students generaied 221 entries to the Apps for Good Showcase. sharing their innovative climate actilin app ideas In our 2025n026 grant. we're supporting 240 teachers across ?00 schools to deliver Innovate for Climate Change, aiming to engage over 8000 students. We have also provided an additional grant to Apps for Good focusing on the user experience of their platfomi. This includes the design and build of a new user platform to create a smoother experience for teachers, and greater dats management and automation for the Apps for Good staff team. Page 9
DoGusign Envebpe ID". 865862A1.B44NCB4.819KE1 D637305ED The OVO Charitable Foundation Trust¢¢s' Report 224 Youth Zone Toward5 the end of 2025 we begaii siipporting 224 Youth Zone, based in Soiith Bristol. The doors to the centre 'ill open in sumnier 20?6. and they expect to 5UPPOrt more than 5.000 young people each year. ?24 Th'ill offer 20+ creative and sportingF activities, etnployability programmes and tnental health support- Rll aimed at biiilding confidence, skills and aspiration. Our grant is supporting 224 Youth Zone to make climate edutation and nature immersion a core part of the provision. Thig ii)cludes'. Building ki)owledge, skills and coi)Iidence to take cliinate action through handSn leaming Access to nature through off-site residentials ai)d outdoor activities Young people being empowered to lead environmental action campaigns in their communiiies Community Impact Iii 20?3. OVO Foundation launched the ComTnunity Impact grant programme. Since then we've partnered with 23 local charities. empow'ering cominuiiities to spend time in nature, and kickstart local climate action. We partnered with 12 charities betweeii July 2024 and June 2025, based iii Bristol, London and Glasgow, near where OVO people live and work. as well as other areas of the UK. Froin cotnmunity ¥ardens to community hubs to city fa5. each project we supported varied, but worked to deliver Similar outcomes.. to ¥ive children aiid youii¥ people opportuiiitie5 to speiid time iii nature, acces5 cliinate educatioii, improve their health and M'ellbeing, and take local cliinate action. In 20?4125, our 12 partners reached 4.017 children and young people from their local communities. For instsiice The Children's W(x)d iii Glasgow engaged priinary school children. most of whom had no gardens at home, in haiids-on. outdoor edueational experiences thai focused 01) understanding and supporting local biodiwersity. One teacher of Duiiard Primar), Sch(iol shared.. 'wahirtg the children thrive in the outdoors - exploring nature, leaming about local habitats, discovering how, bees contribute io our environment. and even developing practical lite skills like safely makii)g a fire has been brilliant. The conlidence, teamwork, and curiosity they've gained through these sessions M'ill stay with them far beyond the classroom. We're very grateful for the support from the OVO Project. which has made these experiences possible and helped us nunure a love of learning for the natural world in our pupils." Page 10
DoGusign Envebpe ID". 865862A1.B44NCB4.819KE1 D637305ED The OVO Charitable Foundation Trust¢¢s' Report At Kei)tish Tom'ii Cit), Farm in London. IOOQ/o of the )'oung people who took part felt they Iiad niore opportunity to connect with iiature, with one Youi)g Fam]er sharing. We feel 50 Inuch more coniiected to the area and coinmunity through the Fartn - meetiiigF new people and beii)g with the aniTnals. It'5 the only occasion I get to be 'ith fam] anima15 as I live in the City, and when I grow up I wa]it to be a farmer, 50 that's really importaiit., Bristol Tree Crdft's Green Machine sessions ei)gaged childrei) in a densely populated area of Bristol with lew green spaces and high rates of youtl) criminal activity. The sessions involved traditioi)al woodcraft. and offered an early intervention to help thildrei) connect with i)ature. Tl)e team at Bristol Tree Craft shared the iinpact of our funding." 'The OVO Foui)datiot)'s support has been a cei)trdl pillar in Bristol Tree Ciaft's capacity to bring people ii)to relationship with nature ai)d make at-risk young people the leaders of a fairer, greener w'orld. Their trust in our knowledge of community needs, flexible approach and consistently clear communication has given our small organisation the strength ro bring big change 10 the lives of those we serve." In July ?025 we commenced new one-year grants with l ? charities. 2 of which were new to our Community Impact programme. Green Skills Ensuring thai the next generation are eqiiipped for the futiire of work is vital for the greener, brighter future that OVO Foundation strives for. That megns understsnding the skills and jobs that will be required, and ensuring that young people are educaied, motivated and empowered to step into Ihese roles. In 2025, OVO Foundation launched our funding in the Green Skills space, partnering with five chariiies delivering in three different way5'. Our research grants with NEF and Green Alliance are looking at the barriers to accessing green jobs faced by young people, and what skills they will need for the rapidly changing labour market that is being reshaped by greeii and digitsl trdll51tions. Engineerin£UK and Another Way's projects aim to inspire school-aged children to consider futiire green careers, and find out what Skills they'll need to develop. Yoiith Environmental Service are running paid placement5 for youn¥ people in the environmentsl sector. In the 2025 AUilln cohort. YES made 9 placen]ents at 8 different employer5. We look forward to seeing the impact of this new area of work in 2026. Green Match Fund OVO Foundation participated as a Chainpion in the Green Match Fund. run by The Big Give, for the first time as part of the 2025 campaign. This approach allowed us to support a diverse range of charities working to achieve our n)ission in a number of ways. helping to expand our in)pact beyond our own grant programmes. Taking part also enabled us to deepei) our relaiioi)ship with the Environmental Funders Network. who support the Big Give in delivery and are an important seLior convener. Page 11
DoGusign Envebpe ID". 865862A1.B44NCB4.819KE1 D637305ED The OVO Charitable Foundation Trust¢¢s' Report The charities we nded '¢re.. Another Way.. supporting orgai)isatioiial development, iiicluding climate workshops in schools Ecoactive.. environmentsl activities for young people Global Goals Ceiitre.. u5iii¥ Eartli Daj. to iiispire environmental action Commonwork Trust.. creating enviroiiniental champioiis througFh nature vislt5 Swansea Comn)unity Fam).. for youth.led eco events Wildside Activity Centre.. for an enviroi)mental education programme Intereliinate Trust.. supporting youth advocaty ahead of COP30 Woodcraft Folk". an outdoor leamii)g space for youi)g people The charities raised £98,019 in their campaigns. meaning that each £1 we contributed led to additional £2 of funding. Roots & Routes In June 20?5 the Roots & Routes Fund awarded £103,000 to six youth-led organisations who are fighting for climate justice.. A WETHU.. A school for climate justice changemakin& empowering Black African and Caribbean youth aged 18-24. Earth Tenders- A Black-led land justice initiative in South London, reclaiming land for community use and food growing. The Land Collective.. Supporting underrepresented young people to pursue careers in sustainable built environment5. Youth Climate Collaborative.. Building youth leadership through training. community-building. MAFIA Wcckcnd. A majority LGBfoiA+ organisation using participatory story1elling to amplify underrepresented voices in climate justice. Time to Grow.. A ¥rassroot5 group promoting food 50vereignty and local growin¥ as tools for climate and Social justice. convening, and In October 2025, Roots & Route5 a150 nded three young ChangeMake through Blagrave Trust's 'Challen¥e leadership development pro¥ramme. Each youiig person received £10,000 in fui)ding, wellbein¥ 5UPPOrt, and acce5S to expert mentorship and personal developrnent opportunities. In 2026, Roots & Routes will be having a greater impact by also funding the infrastructure organisations Who the youth-led organisations and young changeinakers work with. We will also focus on contii)uing to build the evidente base for youth-led Llimate justice. We are currently working with a storyteller who will help us develop a narrative for the Fund. with first outputs expeLted iii sunimer 2026. This includes progressing plans for strengthening governance (including youth leadership) and deepening relationships with other funders to secure longer-term commitment. In addition. the fund will prioritise leaming from its grants, supporting cohort connectivity, and refining its model to grLlW a stronger, more resilient ecosystem L)f youth-led L)rganisations acrLlSS the UK. Page 12
DoGusign Envebpe ID". 865862A1.B44NCB4.819KE1 D637305ED The OVO Charitable Foundation Trust¢¢s' Report Climate Campaigning Fund We launched the Climate Campaigning Fund for existing land previousl partners to apply for nd11]g for their influeiiciiigF aiid advocacy woA(. This came from seeing how challengFing it is for charities to get funding for advocacy WOTk, and of how successful our support of the SCAR had been. In 20?5. we funded Bristol Tree Craft lone of our Comn)unity Impact partners) to hire a Marketii)g & Advocacy lead to promote their commui)ity and youth-led climate work. We also funded SOS UK to rui) party confeience events at the Liberal Democrats. SNP, and Green Party conferences, which gave students a platforni to share their vision and priorities for quality climate education with MPS and policy Inakers. Shadow Curriculum and Assessment RevieiTr (SCAR) One of the recommendations of 'The State of Climate Education,, a report published by OVO Foundation in 2024 was curriculum reform. Specifically a 'shadow' review of the olyicial curriculum review ihat had been launched by the new Labour government in ihe summer of ?024. We were concerned about the inclusilin of youth voice in the otyicial review. wilh no young people included on ihe L)fficial panel. Our existing partner SOS UK put forward a proposal 10 conduct a youth-led Shadow Review, to ensure the voices of young people are heard, which OVO Foundation was delighted to fund. The Shadow Panel mei bi-weekly with those leading the Curriculum and Assessment Review from the DtE during the months of the SLAR'S key activities. The Youth Shadow Panel launched their final report in the Palace of Westminster on 8 July. This event was attended by several MPS, DtE Review representatives and 80+ people working acr05S the education sector. including subject associations and exam boards. Nadia Whittome MP spoke at the event and piiblishcd an article on the Youth Shadow Panel and their report. The final SCAR report mirrors the Youth Shadow Panel's 14 recoinmendations, including.. five key 5killslknoM'ledgFe area5 set-out.. climate and sustainability education. digital, media literacy (including nij5- and di5infom]ation}, oracy. and financial literacy Education oil cliinate changye and 5llstaiiiability to be more strongTly integrated throughout citizenship, sciences, Teouraphy, with 5UStainability intewted into D&T (including food and nutrition) Citizenship to be mandatory at all key 5ta&Tes Enrichinent entitlement which includes acce5S to nature and outdoor5 reductioi) ii) exam burden at GCSES More focus on the solutions to climate change students to'see themselves reflected in the curriculuin. The Shadow Review's interini report is referenced in the Review's report in relation to young people wanting to learn more about climate change. Our funding of this work shom's our commitment to supporting systemic change, with the potential impact of this reaching millions of young people and revolutionising climate education in England. '[ want to really express my gratitude to OVO Foundation for yL)ur trust in us to do the Shadow Review - your funding made the SCAR possible. and we know from our conversations with senior representatives that our influence particularl}, pla}'ed a role in sustainability featuring as one of those five skillslthemes, the enrichment entitlement, and the reduction in exam burden ai GCSE. Yoiir quick support allowed us to be dynamic and reactive to the policy landscape, nabbing an opportunity for meaningful influencing, and bringing on board all the right partners, and this delivered genuine resulLs. Thank you so much for your support." Quinn Runkle Direcior of Campaigns and Advocacy, SOS UK Page 13
DoGusign Envebpe ID". 865862A1.B44NCB4.819KE1 D637305ED The OVO Charitable Foundation Trust¢¢s' Report OVO Foundation priorities for 2026 In 20?6 we will.. Continue to centTe systems changFe thinkiiig in our work, including expanding our support for partiiers, advocac}. and deepening our own focus on research. Deepen our understanding of the needs for and challenge5 5UtTounding green skills ii) the UK, and use thi5 knoledge to further shape oui future grant makii)g. Further embed IV AR'S commitments to opel) and trusting grant making in our work. Expand our networks. collaboiatints with like-minded partners to Inake ai) even greater impact. Work with OVO to further promote the OVO Foundatioi) to customers, boosting both awareness and doi)ations. Demonstrate on-going impact and value to OVO cusiomers who so generously fund us. The OVO Charitabl¢ Foundation'5 plan5 for 2025 Financial review (1) 2025 financial review OVO Foundation's totsl income at the end of 2025 wa5 £1,170,996 (2024= £1,183,836). Of this. £377,534 {2024.. £391.517) caine from the donation of OVO customers. OVO matched those donations and topped up to ensure OVO Foundation's incoine of at least £1 niillionl year. Oui expenditure in 2025 was £1,675,758 {20?4'. £938,566).. please see note 5 of the financial statements for detail. {2) Number and i'alue of custotner donation5 OVO customers who are on a pay monthly tariff have the option io donaie to OVO Foundaiion. These donations are mahed by OVO and, because OVO also covers ihe overheads of OVO Foundation. Ihe funds go entirely to OVO Foundation's chariiable grant making activity. By December 2025, approximately 37,000 customers were donating to OVO Foundaiion. (3) Policy on reserves OVO Foundation reserves policy states that the reserves 'provide the Foundation 1[h adequate financiai stability to fulfil its charitable objectives and maintain continuity of its core work" and sets out that 'we maintain reserves equivalent to ai leasi 20/0 of our annual charitable expendiiure. Reserves are set at this level to reflect the charity's current. planned and project¢d incom¢ and expenditure., The res¢rv¢s policy is revIeed oil an annual basis. Page 14
DoGusign Envebpe ID". 865862A1.B44NCB4.819KE1 D637305ED The OVO Charitable Foundation Trust¢¢s' Report (4) Principal risk5 OVO Foiindation ha5 a risk policy and risk register which is reviewed and updated by the OVO Foundation teain each quarter, and reviewed and discussed by the Board of Trustees where relevant. Principal risks to the Foundatioii iii ?024 incliided.. Flre fvNdiKg of 01 O Foundatio OVO Foundation is funded by donations fron) OVO customers. As a result of the announcement of the sale of the OVO Ei)ergy Ltd retail group to E.ON which is expected to complete ii) the second l)alf of 2026 a principal risk lor the loundation is to secure the future of this fundii)g whei) control of OVO Ei)ergy Ltd passes over. The foundation is currently in a strong net asset position and currently has no reason to believe this funding will not be available in future years. (5) Other updates Welcomin new trustees The Foiindation's Articles of Association state Ihat a majority of the Trustees must be independent of OVO Energy Ltd. In 2025, OVO Energy 'ere represented b}, eight trustees with one stepping down in November. When the Board decide 10 undertake recruitment for other Trustees. either due to a Trustee stepping down or increased the skill profile of the Board (within the number of Trustees all0.ed in our Articles) 'e do this by open recruitment. Governin document OVO Foundation is a charitable company governed by a memorandum and articles of association. The annual report was apprlived by the trustees of the charity on 20 August 2026 and signed on its behalf by.. 64X)F4Q&................ Gina Cicerone Trustee Page 15
DoGusign Envebpe ID". 865862A1.B44NCB4.819KE1 D637305ED The OVO Charitable Foundation Statement of Trust¢¢s' Respon$ibilitie$ The trustees {who are also director5 of The OVO Charitable Foundation for the purposes of coinpanj. law) are responsible for preparing the Trllstees, Annual Report and the Financial Statements iii accordance with applicable law and regulation. Company law. requires the trustees tl) prepare Financial Statements for each financial year. Under that law, the trustees have prepared the Financial Statements in accordance with United Kingdom Accounting Standards {Uniied Kingdom Generally Accepted Accounting Practice). comprising FRS 102 'fhe Financial Reponing Standard applicable in the UK and Republic of Ireland,. and applicable lam,. 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 state of the affairs of the charitable Company gnd the group gnd of Ihe incoming resources and application of resources, including the income and expenditure, of the charitable company for Ihai period. In preparing these Financial Statements, the trustees are required to.. select suitable accounting policies and apply theTn con5lStently,' observe the methods and principles in the Siatement of Recommended Practice.. Accounting and Reponing by Charities (effective l January 2019),. make judgements and estimates that are reasonable and pdent. state whether applicable United Kin¥dotn Accouiitiiig Standards, compri5in¥ FRS 102A, have beeli followed, Subject to aiiy material departiires di5c105ed aiid expldined in the Financial Statenient5; aiid prepare the Financial Statements on the going concern basis unless ir is inappropriate tl) presume that rhe charitable company will continue in business. The trustces are responsible for keeping adequate accoiinting records that are sutTicient to show and explain th¢ charitable coinpany's transactions and di5c105e ivith reasonable accuracy at any time the financial position of the charitable company aiid enable thein to ensure that the Fiiiancial Statements coinply M'ith the Compaiiies Act 2006. They are also responsible for safeguardiiig the assets of the charitable coinpany and hence for tak'ing reasonable steps for the preventioii and detection of fraud and other Iegular1tIts. The trustees are responsible for the n)aintenance and integrity of the charitable company's website. Legislation in the United Kingdoin governing the preparation and dissemination of Financial Statemei)ts may differ from legislatioi) in other jurisdictions. Approved by the trnstees of the charity on 20 Au(Tust 2026 and signed on its behalf by.. ..AD¢Ae$>sJADF&g1.................. Gina Cicerone Trustee Page 16
DoGusign Envebpe ID". 865862A1.B44NCB4.819KE1 D637305ED The OVO Charitable Foundation Independent auditors, report to the members of The OVO Ch#ritable Foundation Report on the audit of the finaneial statements Opinion In our opinion, The OVO Charitable Foundation's financial statements {the 'financial stateinents").. give a true and fair view of the state of the charitable company's affairs as at J l December 20?5 and of its incoming resources and applicatioi) of resources, including its income and expenditure. and cash flows for the year then ended; have been properly prepared in accordance M'ith United Kingdom Generally Accepied Accoiinting Practice (United Kingdom Accounting Stgndgrds, including FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland" and applicable law)., and have been prepared in a¢cordan¢e with tl)e requirements of the Companies Act 2006. We have audited Ihe financial statements. included within the Annual Report and Financial Statements (the 'Annual Repon"), which comprise.. the Balance Sheet as at 31 December 2025; the Statement of Financial Activities (Including an Income and Expenditure Account), the Cash Flow Statement for the year then ended; and the Notes to the Financial Statements, which include a descriptiL)n of significant accounting policies. Basis for opinio We conducted our audit in accordance '1th International Standard5 on Auditin¥ (UK) ("ISAs (UK)") and applicable law. Our re5poiisibilities under ISA5 (UK) are fiirther described in the Auditors, resp0115ibilitie5 for the audit of the financial 5tatement5 section of our report. We believe that the audit evidence we have obtained 15 Sufficient and appropriate to provide a basi5 for our opinion. Ia¥pLdn¢¥ We remained independent of the charitable company in accordance with ihe ethical requirements that are relevant tLI our audit of the financial staiemenis in the UK. which includes the FRC-S Ethical Standard and we have fulfilled our oiher ethical responsibilities in accordance with these requirements. Conclusions relating to going concern Based 011 the work we have perforined, we have Iiot identified any material uncertainties relating to events or conditions that. individually or collectively, may cast significant doiibt on the charitable company's ability. to continue as a goingF concerii for a period of at least 'eIve months from the date on H."hich the financial statemertts are authorised for issue. In auditing the financial statements, we have concluded that the trustees. use of the going concern basis of accoui)ting ii) the preparation of the financial statements is appropriate. However, because i)ot all future events tsi conditions can be predicted, this conclusion is not a guarantee as to the charitable company's ability to continue as a going concem. Our responsibilities and the responsibilities of the trustees with respect ro going eoneem are described in the relevant sections of Ihis report. R¢porting on other information The other information coinprises all of the infonnation in the Annual Report other than the financial stateTnents and our auditors, report thereon. The trustees are responsible for the other information. Our opinion on the financial statement5 does not cover the other information and, accordingly, we do iiot express an audit opinion or, except to the extent othenvise explicitly stated in this report, any fonn of assurance thereon. Page 17
DoGusign Envebpe ID". 865862A1.B44NCB4.819KE1 D637305ED The OVO Charitable Foundation Independent auditors, report to the members of The OVO Ch#ritable Foundation Reporting on other information (Continued) In connectioii with our audit of the financial statements. our responsibility is to read the other infoTmation aiid, in doingF so. consider whether the other iiifotynatioii is Inaterially incon5lStent with the financial stateinents or our knowledgFe obtained in the audit, or otherwise appears to be Tnaterially misstated. If we identify an apparent Tnaterial incon5lStency or inaterial mi5Statement, we are required to perform procedures to conclude whether there is a material misstatement of the financial statements or a material n)isstatement of the other ii)lomiation. If. based on the work we have perfomied, we conclude that there is a Inaterial misstatement ol. this other infomiation, we are required to report that fact. We have i)othing to report based on these respoi)sibilities. With respect to the Trustees, Report, we algo considered whether the disclosures required by the UK Companies Act 2006 and Charities Act 201 I have been included. Based on our work undertaken in the course of the audit, the Companies Act 2006 requires us also to report certain opinions and matters as described below. Iii our opinion, based on the work undertaken in the course of the audit the information given in the Trnstees, Report for the period elided 31 December 2025 is consistent with the financial statements and has beeii prepared in accordance with applicable legal requireinents. Iii light of the knowledge and understanding of the charitable coinpany and its environment obtained iii the course of the audit. we did not ideiitify any material tlli5Statetneiits in the TTU5tee5' Report. Responsibilities for the financial statements and the audit ReJponJibililies ofihe irusieesfor ihefinanciulsiaiemenis As explained more fully in the Statement L)f Trustees, Responsibilities, the trustees {whL) are also the directors of the charitable company for the Purposes of company la) are responsible for the preparation of the financial siatements in accordance with the applicable framework and for being satisfied that they give a true and fair Vie.. The trustees are also responsible for such intsrnal control as they detem]ine is necessary to enable rhe preparatioii of financial statements that are free from material misstatement, whcthcr due to fraud or error. In preparing the financial statements, the trustees are respoiisible for as%es%illg the charitable company's ability to contiiiue as a going concern, di%¢losin£ as applicable, mattcTh related to going concern and iising the going concern ba%is of accounting unle%s the trn%tees either iniend to liqiiidat¢ Ih¢ ¢haritable ¢ompany or to cease operations, or have no realistic alternative but to do so. Page 18
DoGusign Envebpe ID". 865862A1.B44NCB4.819KE1 D637305ED The OVO Charitable Foundation Independent auditors, report to the members of The OVO Ch#ritable Foundation Auditors, resp0fr7sibilitiesfor the audil of1hef1fr7aCll statemenls Oiir objectives are to obtain reasonable assurance about Th'liether the financial statement5 as a whole are free froin material mi5Stateineiit, 'hether due to fraud or error. aiid to 15sue an auditor5, report tliat include5 our opinion. Reasoiiable assurance 15 a hibFlI level of assurance, but is not a gFuarantee that an audit conducted in accordai)ce with ISAS IUKI will alM'aN's detect a niaterial mi5StateTnent when it exists. Misststements can arise froin fraud or ettor and are considered material it.. ii)dividualls' or ii) the aggregate. they could reasonably be expected to influence the eeoi)omic decisioi)s of users taken on the basis of these financial statements. Irregularities, including fraud. are instances of i)on.compliai)ce with laws and regulations. We desigi) procedures in line with our responsibilities, outlined above, to deteLt material Inisstatements in respect of irregularities, including fraud. The exteni to which our procedures are capable of deteciing irregularities. including fraud, is detailed below. Based on our understanding of the chariiable company and lis industrylenvironment, we identified that the principal risks of non-compliance M'ith laws and regulations related to the Chariiies Aci 2011, and we considered the extent to which non-CLimpliance might have a material effect on the financial statements. We also considered those laws and regulations that have a direct impact on the financial statements such as the Companies Aci 20(K). We evaluated management's incentives and opportunities for fraudulent manipulation of the financial statements {including the risk of override of controls), and determined that the principal risks were related to misappropriation of assets, namely cash. Audit procedures performed by the engagement team included.. Enquiring with manggement and those charged with govemance to understand the relevant laws and regulations applicable to the charitable company, and their assessment of fraud related risks,. Understanding and evaluating the charitable companv's control environment specifically as it relates to preventing and detecting irregularities and fraud; Testing of expcnditure on charitable activities to evaluate whether grants have been appropriately approv¢d and are iii line with the charity's objectives; Obtaiiiingy bank confitynations aiid testing the bank reconciliation to the year-end position.. IdentifyingF and testing journal entrie5, specificall}. those with potentially unusual entries to bank accounts,. Obtaiiiingy and reviewin¥ minutes of meetingF5 of the Board of TnJ5tee5', and Reviewing financial statement disclosures and testing to supportiiig documentation. where appropriate, to assess coinpliance with applicable laws and reuulations. There are inherent limitations in the audit procedures described above. We are less likely to become aware of instances of non-compliance with laws and reoulations that are not closely related to events and transactions ref]ected ii) financial statements. Also, the risk of not detecting a material misstatement due to fraud is higher than the risk of not detecting one resulting fron) error. as fraud mav involve deliberate concealment by. for example, forgery or intentioiial misrepresentations or through collusion. A further description of our responsibilities flir the audit of Ihe financial statsments is located on ihe FRC'S website at.. ww.frc.org.uklauditorsresponsibilities. This description fonns part of our auditors, report. O'.ie of ihi.s veporl This report, including the opinions, has been PTepared for and only for the charity's niembers as a body in accordance with Chapter 3 of Part 16 of the Companies Act 2006 and for t]0 other puryose. We do not. in giviJ)g these opinions, accept or assume responsibility for any other purpose or to any other person to whom this report is shown or into whose hands it may come save where expressly agreed by our prior consent in WTiting. Page 19
DoGusign Envebpe ID". 865862A1.B44NCB4.819KE1 D637305ED The OVO Charitable Foundation Independent auditors, report to the members of The OVO Ch#ritable Foundation Other required reporting Companies Act 2006 exception reporting Under the Compat]ies Act 2006 we are required to report to you if, in our opinion.. we have not obtained all the infom)ation and explanations we require for our audit; or adequate accounting records have not been kept or returns adequate for our audii have not been received from branches not visited by us,. or certaiii di5L105ures of tru5tees' reinuiierdtioii specified by law are not made.. or the financial statemenis are nLIt in agreemeni with ihe accoLinting reclirds and retums. We have no exceptions to report arising from this responsibility. Entitlement to exempt10115 Under the Conipaiiies Act 2006 we are required to report to you if, in our opinioii, the Trustees w'ere not entitled to take advantsge of the small companies, exemption from preparing a Strategic Rewrt. We have no excepiions to report arising from this responsibiliry. Thomas Dodd (Senior Ststutory Auditor) For and 011 behalf of Pricewatcrhousecoopers LLP Chartered Ac¢ouiitgnts and Statiitory, Auditors Bri%tol 20 Aiigust 2026 Page 20
DoGusign Envebpe ID". 865862A1.B44NCB4.819KE1 D637305ED The OVO Charitable Foundation Statement of Financial Aetivities for the year ended 31 December 2025 (Ineluding an Ineome and Expenditure Aceount) {A5 restated) Total 2024 Total 202$ Note Income from: Donations and legacies Investment income 1,141,420 29,576 1,159,081 24,755 Total Income 1,170.996 1,183,8i6 Expenditure on.. Charitable aciivities {1,675.758} {938.566) Toial Expendiiure {1,675.758} {938.566} Net (expenditure)lincome (504.7621 245,270 Net movemeiit in funds (504,762) 245,270 Reconciliation of funds Total funds broughi forward Total funds carried forward 2,061,5J I 1.816.261 1.556,769 2.061,531 All of Ihe charity's aciiviiies derive from continuing operaiions during the year and all funds are unrestricted. There are no recognised gains or IL)sses L)ther thali those included in the Statement of Financial Activities above. Details of the prior year restatement are disclosed in note 14. Page21
DoGusign Envebpe ID". 865862A1.B44NCB4.819KE1 D637305ED The OVO Charitable Foundation (Registration numb¢r: 08908420) Balanee Sheet as at 31 Deeember 2025 202S 2024 Note Current assets Debtors Cash at bank and in hand 4,825 1,551.944 429 2,001.102 1.556,769 2.061,531 Fullds of tILe eharity: Unrestricted iNc0e funds Unrestricted funds 1.556,769 2.061,531 Total funds 1,556,769 2.061,531 The trustees acknoivledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of Financial Statements. These Financial Statements have been prepared in accordance with the provisions applicable to companies subject 10 the small companies regime. These Financial Statements on pages 21 to 28 were approved by the trustees, and auihorised for issue on 20 August 2026 and signed on their behalf by.. Gina Cicerone Trustee Page 22
DoGusign Envebpe ID". 865862A1.B44NCB4.819KE1 D637305ED The OVO Charitable Foundation Cash Flow Statement for the year ended 31 December 2025 (A5 restated) 2024 2025 Note Cash tlows (used iny generated from operating activities Net mov¢m¢nt in funds (504.7621 245,?70 Reconciling items to operating cash flows Interest income 29,576 24,755 (534.3381 220,515 Working capital adjuslments Increase in debtors Decrease in creditors 14,396} {429) (25,000} Net cash flows generated (used in)1 from operating activities (538,7341 195,086 Cash flows from investing activities Inierest received 29,576 24,755 Net (decreasellincre&se in cash ai bank and in hand (509,1581 2,061,102 219,841 Cash at bank and in hand at l January 1,841,261 Cash at bank and in hand at 31 Deceinber 1.551,944 2.061,102 All of the Cash flows are derived from coi)tinuing operations during the year. Page 23
DoGusign Envebpe ID". 865862A1.B44NCB4.819KE1 D637305ED The OVO Charitable Foundation Notes to th¢ Financial Statements for ihe Year Ended 31 De¢¢mb¢r 2025 General information The Compan}, is a private company limited by guarantee. incorrated and domiciled in the United Kingdom. The nature of the Company's operations and principal activities is set out in the Trustees. Rep)rt. The address of its registered office is.. Floor 5 Crescent Temple Back Redcliffe Bristol England United Kingdom BSI 6EZ 2 Accounting policies Sumrnary of significant aeeounting polities and kev accounting estimates The principal accounting policies applied in the preparation of these Financial Statements are set out below. These policies have been consistently applied to all Ihe years presented, unless othen¥ise stated. Statement of complianee Thc Financial Statcmcnt5 have been prepared in accordance with Accounting and Reporting by Charities.. Statement of Recommendcd Practice applicable to charities preparing their Financial Statcments in accordance with the provisions applicable to companies siibject to FRS 102 - (Charities SORP {FRS 102)). the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 102) and the Companies Act ?006. Basis of preparation The OVO Charitable Foundation meet5 the definition of a public benefit entity under FRS 102. Assets and liabilities are iiiitially recogFnised at historical c05t or transaction value unle55 Otherwise stated in the relevant accountin¥ policy notes. Going concern These Fiiiancial Statement5 have been prepared oil the going concerii basi5. The trustees consider that there are no inaterial uncertaintie5 about the charity'5 ability to continue as a gFoin¥ coiicern nor any 5igFnificaiit area5 of uncertaintv that atTect the carrving value of assets held by the charity. This assessment has beeii based on the balance sheet position as at year end Deceinber 2025, as well as the position at the date of signing the financial siaieinents. which has a strong net asset position and a positive review of i)et asset positioii against future obligations. Income Voluntary income including donations. gifts, legacies and grants that provide core funding or are of a general nature is recognised when the charity has entitlement to the funds. certainty of receipt and the amount can be measured '1th sufficient reliability. Page 24
DoGusign Envebpe ID". 865862A1.B44NCB4.819KE1 D637305ED The OVO Charitable Foundation Notes to th¢ Financial Statements for ihe Year Ended 31 De¢¢mb¢r 2025 2. Ac¢oun¢ing Policies continued Donations and lcgaeies Donations and legacies are recognised on a receivable basis where there is certainty of receipt and the amount can be reliably measured. For customer donations, this is when ihe cash is received. Investment income Interest on fund5 held oil deposit 15 iiicluded whe]1 receivable and the amount can be measured reliably by the charity; this is nornially upon notification of the interest paid or payable by the bank. Trade debtors Trade debtors are recognised initially at the transaction price. They are 5ub5equently measured at amortised cost usiiig the effective interest method, less provision for impaim]ent. A provi5ioiI for the impaim]ent of trade debtors is established when there 15 objective evidence that the charity will not be able to collect all amounts due according to the original temjs of the receivables. Cash al bank and in hand Cdsh at bank and in l)and comprises eash 01) hand and call dewsits. and other short-temi highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of ehange ii) value. 3 DoNation5 and legacies (As restated) Total 2024 Total 2025 2024 General General Doi)ations ai)d legacies; Doiiations from companies, trusts and siinilar pioceeds 1,141,420 ,141.420 1,159,081 1,159,081 4 Investment income Unrestrieted lunds 2025 General Unrestricted funds 2024 General Total 2025 Total 2024 Interest receivable and similar income; Interest receivable on bank deposit5 29,576 29,576 24,755 24,755 Page 25
DoGusign Envebpe ID". 865862A1.B44NCB4.819KE1 D637305ED The OVO Charitable Foundation Notes to th¢ Financial Statements for ihe Year Ended 31 De¢¢mb¢r 2025 5 Charitable aetivities Unr¢5tricted fund5 Unrestricted funds (A5 restated) Total 2024 2025 General Total 2025 2024 General Grani funding of activities 1.675,758 1,675,758 938,566 938,-f66 Analysis of charitable expenditures Total charitable expenditure for the year was £1,675.758 (2024.. £938,566). This contains donated services from OVO of £140.800 (2024." £158.5241. The charity ui)dertakes its charitable activities tl)rough doi)ations to a number of institutions ii) furtherai)ce of its charitable activities. £1,5i4,958 {2024- £780.04?) of the below expenditure was attiibutable to unrestricted funds and £Nil120?4- £Nill to iestiicted funds. Inlomiation relating to Ihe 2024 restatement can be fliund within note 14. As at 31 December 2025 £1,605.887 is committed in grants (2024.'£1.193,082} Unrestricted funds 202) General Total 2025 Total 2024 Ambition Lawrence Wesion 30,000 24,877 147,510 30,000 24,877 147,510 25,000 Another Way Apps lor Good Ashden Climate Solutions 114,810 120,903 120,903 116,461 Blagrave frust Bristol Tree Craft i 00,000 100,000 60,000 30,000 60,000 30,000 25,000 30,000 7,633 115,025 EA TS Rosyth Energy 4 Impact Energy Sparks Engineering UK Environmental Funders Network 120,876 120,876 30,671 2,625 12,500 30,671 2,625 Glasgow Eco Trust Governors for Schools 12,500 12,500 5.000 5,000 101,650 30,000 Green Alliaiice 101,650 Hammersmith CL)mmunity Gardens Association IVAR 30,000 25,000 1.000 1,000 7.800 Kelvingrove Woodcraft Folk Kentish Town City Farni Kingswood Trust 7.800 30,000 30,000 30,000 30,000 25,000 25,000 Page 26
DoGusign Envebpe ID". 865862A1.B44NCB4.819KE1 D637305ED The OVO Charitable Foundation Notes to th¢ Financial Statements for ihe Year Ended 31 De¢¢mb¢r 2025 Unrestricted funds 2025 General Total 2025 Total 2024 Lockleaze Neighbourhood Trust New Economics Foundation 30,000 30,000 25,000 98,505 12.500 30,000 155?66 98,505 12,500 30,000 155,266 Play Wildl Pulp Fiction Students Organising for Sustainability UK Students Organising for Sustainability UK Shadow Curriculum and Assessmeni Review 12,500 25,000 113,903 30,000 30,000 32,210 The Avon Centre 28,673 36,564 28,673 36,564 30,000 29,962 30,000 100,000 38,076 The Big Give The Children's Wood 30,000 29,962 30,000 25,000 Urban Roots We are Grow 25,000 Youth Environmental Services (via Eden Project} Yoiith Moves i 00,000 38,076 1,534,958 1,534.958 780,042 6 Trustees remuneration and eYpenses No tiusttes, ntsr ai)}, persons connected with them, have received any remunerdtion and any other benefits from the Charity duiing the year (?024.' same). No trustees have received any reimbursed expei)ses froin the cl)arity during the yeai (2024.. same). 7 Charity status The charity is a charity limited by guarantee and consequently does not have share capital. Each of the trustees is liable to contribute an amount not exceeding £1 (2024.. £1) towards the assets of the charity in the event of liquidation. 8 Staff eosts No staff were directly employed by the OVO Charitable Foiindation diiring the year ended 31 December 2025 {2024.. Nil). During the year members of staff were seconded to the Foundation, and the c05t was bome b}, OVO Encrgy Ltd. The valiie of these services have been included within the statement of financial activities as g donation and a cost of £140,800 (2024.. £158,524). Infomiation r¢lating to the ?024 restat¢ment of these figures can be fouiid withiii note 14. Page 27
DoGusign Envebpe ID". 865862A1.B44NCB4.819KE1 D637305ED The OVO Charitable Foundation Notes to th¢ Financial Statements for ihe Year Ended 31 De¢¢mb¢r 2025 9 Auditors, remuneration The allditors, remuneration constityted an audit fee of £l?,00012024.. £11:800). The audit fe¢ is borne by OVO Energy Ltd. 10 Taxation The charity is a registered charity and is therefore exempt from taxation. I l Debtors 2025 2024 Debtor from OVO Energy Ltd 4,825 429 4.825 429 Debtors iiiclude £Nil {2024.. £Nil} receivablt after more than one year. 12 Related party transactions There were no I'utther related party transactions outside of those already disclosed within statT costs other than doiiaiions received Irom OVO and OVO customers that were required io be disclosed in the year (2024.. iione}. 13 Subsequent events after the financial period Sale of com an with si nificant influence over the foundatilin On I l Ma}, 2026 Energy Transition Holdings Ltd, the ultimate parent company of OVO Energy Ltd. announced that it had agreed the sale of the UK energy retail business to E.ON. The UK energy retail business consists of OVO energi, Ltd and its subsidiaries. The sale is subject to regulatory approvals and is expecied to complete in the second half of 20?6. OVO Energy Ltd has significgnt infliien¢e over the foundation and this influence will transfer across with the sale of the retail group. 14 Restatement in prior year Duiing the year it was noticed that services provided by OVO could be reliably estimated and therefore should be included as a donation and expense within the siatement of financial activities of ihe foundation. As a result of the restatement an increase of £158,524 has been included within donaiions and expenditure on charitable aciivities to rectify this within the 2024 period. The 2024 period was the earliest the restatement has been made. Page 28