2023-03-31-accounts

Charity Registration no. 1156077 Company Registration no: 08927040 THE WOLFSON FOUNDATION ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023

THE WOLFSON FOUNDATION ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023 CONTENTS Trustees, Report Administrative Details Structure, Governants and Management Objectives and Aclivits'es Achievements and Performance Principal Risks and Uncertainb'es Financial Review Plans for the Future 10 Trustees, Responsibilities Independent Auditors, Report 12 Statement of Financial Acb'vilies 16 Summary Income and Expenditure Account 17 Balance Sheet 18 Cash Flow Statement 19 Notes lo the Financial Statements 20

THE WOLFSON FOUNDATION TRUSTEES, REPORT FOR THE YEAR ENDED 31 MARCH 2023 ADMINISTRATIVE DETAILS Trustee Directo￿ (and Members) Dame Janel Woltson de Botton DBE (Chaimanl Hon Mrs Laura Wolfson Townsley Allegra Bemian Sir Leszek Borysiewicz FRS FRCP Fmedsci FLSW lappoinled 1 June 2023) Sir David Cannadine FBA FSA FRSL Darne Hermione Lee GBE FRSL FBA Mrs Rebecca Marks Sir Michael Pepper FRS FREng Sir Peter Ralcliffe MD FRCP FRS Dame Jean Thomas DBE Fmedsci FRS Lord Tumberg MD FRCP Chartes Woltson Townsley CFA Directorate Paul Ramsbottom OBE MA MSI- Chief Executive land Company Seerelaryl Reference and 8dministr8tive details Registered office.. 8 Queen Anne Street London. W1G 9LD Registered charity No". 1156077 Company Registration No.. 08927040 Professional SeNices 8ankers Barclays Bank plc Charities Team Level 27, 1 Churchill Place London E14 5HP Solicilo Payne Hicks Beach 10 New Square Lincoln's Inn London WC2A 3QG Auditors UHY Hacker Young LLP Quadrant House 4 Thomas More Square London E1W1YW P￿nCipal Investment Managers Cazenove Capital 1 London Wall P￿Ce. London Wall, London EC2Y SAU Website www.woltson.or Twitt8r @wolfsonfdn .uk

THE WOLFSON FOUNDATION TRUSTEES, REPORT FOR THE YEAR ENDED 31 MARCH 2023 The financial statements have been prepared in accordan￿ with the accounting tM)licies sel out in the notes to the accounts and comply with the charity's governing document, the Cheritie5 Act 2011 and Accounting andReporting by Charities.. Statement ofRecommended Practice.. Accounting and Reporting by Charities prepanng their aGcoyiJls in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ire18nd (FRS 102) (effective 1 January 2015). STRUCTURE. GOVERNANCE AND MANAGEMENT The charity is a company limited by guarantee registered in England and Wales Icompany number 089270401. The trustees who served during the year, and who are also the Directors for the purpose of company law, are detailed on page 2. The chanlable company was established through Memorandum and Articles dated 6 March 2014. The assets of the previous charitable trust, established by a Trust Deed dated 1 July 1955, were transferred to the new company which also look over the existing acb'vilies and functions of the now redundant charitable trust Iregistered charity 2064951. Al the end of the year, the Board of Iruslees compllsed six academic trustees, drawn from the fields of the arts and humanities, medicine and science, four family Iruslees, and one trustee with specific financial expertise. A further appointment lof Sir Leszek Borysiewiczl was made following the year end. Appointments lo the Board are made by the trustees, and the Nominations and Governance Committee advises on the diversity, balance and composition of the Board as well as individual appoinlmenls. The Committee also advises on the composition and remit ofexpert panelslcommittees as well as any related governan￿ matters. The Board of trustees meets ￿lce each year. The Board deades matters of strategy and overall policy, determines the pnoribes and allocations for grant programmes, sets budgets and aulhorises gr2nt awards. It is served by a number of panels and commillees, which make rewmmendalions on grant- making, audit & risk management and investment policies. Panels comprise specialists in particular fields, as well as trustees. The induction process for newly-appoinled trustees and panel members comprises meetings with the Chief Executive and B08rd members, and covers governance, investsment and granl-making policies las well as the opportunity to attend training sessions organised by the AssociÉlion of Charitable Foundations and similar organisationsl. Docurnentalion provided for new trustees includes copies of the governing documents, ￿levant minutes, a history of the Foundation and recent annual reports and accounts. A full list of members of the committees and expert panels is available on the Foundation's website". www.wolfson.or .uklabouV anel-commillee-membershi Risk assessment The Iruslees have reviewed the major strategic, operational and financial risks which impact on the work of the Foundation and, on professional advi￿. noted that systems have been estsblished lo miligale the exposure lo them. The trustees regularly review this matter and take action ￿quIred arising from the assessment and recommendations of the Risk & Audit Committee.

THE WOLFSON FOUNDATION TRUSTEES, REPORT FOR THE YEAR ENDED 31 MARCH 2023 The Iruslees consider the main areas of risk for the Foundation lo be as follows.. 111 Investment risk. The trustees, supported by a dedicated Investment Committee which meets regularfy, take a long-lerm approach to their investment strategy and aim to deliver the investment objective within an acceptable level of risk. The committee has recently been bolstered by the recruilmenl of additional members. 121 The reputational risk of making awards to inappropriate recipEnts. The trustees are advisecl in their decision-making by dedicated panels of experts, by independent peer reviewers ancl by a professional team of staff (including detailed financial appraisalsl. In addition, visits are made by staff and Iruslees lo projects. Grants are paid in arTears on receipt of eviden￿ of appropriate expenditure. A framework for monitoring and evaluation has been established. Full detai15 of all expert panels are available on the website. Conflicts of interests Under the Foundation's formal conflict of interest policy. a Iruslee holding an active post with an applicant org8ni52bon takes no part in the decision on whether to make an award Similarfy, committeelpanel members with a conflict of Inte￿St 18ke no part in making recommendations relating to organisalions in which they lor relatives or business partnersl have an involvement. A register of interests is maintained by the Foundab'on's office. OBJECTIVES AND ACTIVITIES FOR THE PUBLIC BENEFIT The key objective of the Foundation Is lo contribute lo the health, resilien￿ and variety of our society through support for education (defined In its broadest sensel. The Foundation works in the fields of science, health, heritsge, humanities and the arts. The trustees have complied with section 17151 of the 2011 Charities Act. having due regard lor the Charity Commission's guidan￿ on public benefit when reviewing the Trusys aims and objectives. when formulating strategy and in making awards. One indication of the breadth of public benefit generated by the Foundation is the list of projects supported (see note 161. In a wider sense, public benefit eonsideralion5 also infomi our 1￿MewO￿ for monitoring and evaluation (see below). Our founders recognised that the creation and sharing of knowledge ale the building blocks of a healthy sooely. This principle continues lo inform and uncjerpin Woltson's acb"vilies and we Ihe@fore have a strong and renewed focus on education and research. The Woltson Foundab'on's Str8tegNc Framewortf covers the pericMJ 2020 10 2024. As an endowed charity we are able lo lake a long4emi perspective." remaining loyal lo our core values while resFX)nding tr) emerging needs and opportunities. We believe that our independence and long-lemi time horizon are strengths - strengths that allow us lo work flexibly and creatively whatever the Folilical, economic or cultural context. Our strategic framework 1s available lo download from the Foundation's website.. www.wolfson.or uklabouvslrale The framework slates that 'we don't know what the next five years will bring, and so our framework needs to be flexible. Bul we do know that research and education will remain of crib'cal importance to British society- and that philanthropy will need lo play an important role. That statement has been parbcularly pertinent across a period of significant change in British society. In January 2023, Iruslees held an away day to discuss the strategy in the light of changing circumstances alongside Information from an Applicant Perteplion Audil providing feedback from applicants and stakeholders (undertaken by independent consultants). The organisations that we fund indicate there is a real advantage to a mixed economy of funding from variety of SoUr￿s. In particular, suptM)rt from philanthropic organisab.ons like Woltson allows them to pursue their ambitions irTr ways that would be much more difficult through other sources of funding. They also indicate the ongoing and increasing need ft)r SoUr￿S of capital infrastructure funding.

THE WOLFSON FOUNDATION TRUSTEES, REPORT FOR THE YEAR ENDED 31 MARCH 2023 The Woltson brand is intended lo be recognised as a mark of excellence. Vvhile 'exCellen￿, is defined differently by expert panels for each of our funding themes and programmes, our intention is to support outstanding projects that are exemplars within their particular area. We define 'excellence' broadly enough lo include organisalions and activities that are pioneering or promising, as well as those that are more established. The aim is that Woltson grants have a benefit beyond their financial value, helping recipients to raise addib'onal funds and to highlight the importance of their work. The impact of the Foundation's funding is monitored through biannual reports on projects provided by grant holders during the lifetime of a grant, by visits undertaken by staff and Iruslees and by a framewo for monitonng and evaluation. Each funding theme has 2 slated series of aims which provides a framework, kx)Ih for evaluation and monitoring. Our intention is that the burden on award holders should be as light as possible, and that the informab.on we collect should be proportionate - and provide only the detail ne￿$Sary for those evaluating the project as well as for assessing the general programme area. We aim to be a Ihoughfful, listening and responsive funder. While we receive infomial feedback on a con51anl basis, during the year we also commissioned an Applicant Perception Audit. We periodically commission external reports lo review the effectiveness of particular programme areas on a more targeted basis. The Woltson Foundation is a signatory to the Funder Commitsnenl on Climate Change Ifundercommilmenlclimatechan Grant-making process and policy Trustees make awards Iwice each year and are advised by expert panels comprising trustees and specialists, which meet before the main Board meetings. Four factors inffuence trustees in their decision-making. First, we aim lo support. promote and encourage excellen￿, both existing and polenlial. High quality grant-making based on rigorous, expert peer review is therefo￿ central lo all activities. Se(x)ndly, we attempt lo identify and support important areas that are under-funded, drawing on the work of expert panels and discussions with applicants and other funders. Thirdly, we encourage applicants to use Wolfson funds as a catalyst so that the our funding can lever additional support. Fourthly, we acb.vely seek collaboration with other expert bodies and funders. The Royal Soaety, Art Fund and Hospice UK are just three examples of organisatsons with whom we collaborate on joint funding progr8mmes. The Foundation has traditionally had an emphasis on capital infrastructure which accounts for some 85Vo of funding in a standard year. In particular, we priorilise supporbng infrastructure that allows lalenl and eX￿llen￿ to flourish. helps organisations to make a significant, strategic change in their acts"vity, and makes an organisation more sustainable. In targeted areas {and generally in pathership with other expert organisalionsl, we also fund talented people from a diverse range of background5 through bursanes, scholarships and merit awards. This recognises the fact that buildings and equipment are only effective alongside the work oftalenled people. A focus on excellence does not mean funding exclusively18rge or metropolitan organisations. As the list of awards demonstrates {nole 161, we are determined lo ensure that funding is distributed across the whole of the United Kingdom.

THE WOLFSON FOUNDATION TRUSTEES, REPORT FOR THE YEAR ENDED 31 MARCH 2023 Funding is grouFEd around three areas.. Science., Health,. and Heritage, Humanities & the Arts. The funding is administered through a number of programmes. as outlined in note 16. More detail on the types of projects we fvnd is on our website. An emphasis on the creation. preservation and dissemination of knowledge means that education and research, in the broadest sense, are the overarching themes that encompass almost all our activity. Up to two thirds of the total grant expenditure is allocated lo higher education inslilulions. Applications are generally assessed by independent, expert reviewers, and applicants are given an opportunity to respond lo queries raised during the review process. We aim lo be clear and transparent in all our activities. We also aim to add value to individuals and organisations receiving funding through our communications and networks. In line with our communiealion strategy. we use social media channels, the blog and media outreach to highlight good practs.￿, offer guidance on the application process and make connections be￿een grant holders. Although the Foundation does notwork directly with children or vulnerable adults, it does provide funding to other organisalions that work with these groups. We seek to ensure. through proportionate and reasonable due diligen￿ and advice from the relevant expert panels, that grantee organisations lake their responsibility seriously and that safeguards are in place in these charities lo protect vulnerable people from abuse. The Foundation also seeks to ascertain that applicants have clear procedures for reporting concerns. STRATEGIC REPORT ACHIEVEMENTS AND PERFORMANCE This section presents highlights of our work across our key funding areas in the pa51 year. There is more Information about grants awarded and their ongoing impact on our website. and a full Iisl of grants awarded in the year is available In note 16 below. Following the policies outlined above, grants We￿ pledged lotslling £38.2 million, and cash payments of grants were made lotalling £37.3 million. The year's grant-giving was suc￿Ssful in that, on the advi￿ of external experts, quality projects in our priority areas were funded. Given the nature of the capital investsnenls, especially when funding infrastructure underpinning high- quality research, Il is loo early lo assess the long-term benefits of projects funded during this particular financial year. An evaluation of programmes is, however, undertaken on a rolling basis, usually by themed area and often in conjunction with an independent, exlemal advisor (see also Objecb'ves & Acbvitiesj. Results inform futu￿ funding, and where relevant. rekxjrts may be published on our website. The long-term outcome of supporting high quality but often neglected areas of research is often difficult to predict. An example of this in re￿nI years is Wolfson's funding of the UK'S infectious disease Infrastructure in the ye8rs leading up lo the Covid-19 pandemic. Our joint programme with the Royal Society to support laboratory refurbishment infrastructure was themed around infectious disease during 2015, 2016 and 2017. This meant that many of the top UK infectious diseases laboratories had been refurbished just before the pandemic. Similarty, the Jenner Institute in Oxford also receivecl major infrastructure support from Wolfson which. alongside a portfolio of fvnding from a variety of sources, helped ensure that researchers in the Institute were ready and able lo work on the creation of the Oxford Astrazeneca Covid-19 vaccine.

THE WOLFSON FOUNDATION TRUSTEES. REPORT FOR THE YEAR ENDED 31 MARCH 2023 111 Science This area continues to receive the highest proportion of our overall funding, particularfy for research infrastructure (new buildings, refurbishment and equipmenll. A key part of our strategy is close dialogue with universities and other research-inlensive organisalions lo idenh.fy projects that lake into account the insb'lution's str8tegic priorities and their own assessment of their research slrenglhs. We allocate funding on the grounds of excellence and not through a prescriptive emphasis on a particular theme or topic. We anticipate, however, that we will continue lo fund projects relating lo some of the great contemporary research challenges, induding, for example. climate change, mental health and neurodegenerative diseases. Ex￿llen￿ in this context Is defined as internationally compets.live research of the highest quality or with the potential to be of the highest quality. OUT funding span5 both biological and physical sciences, and we recognise the IM￿rtanCe ol tM)Ih fundamental and applied research. We believe that supporting the most outstanding science is likely in the long lemi lo result in significant, if often unpredictable, impact. The largest grant made during the year was £5 million lo University College London for clinical research facilities in the new Oriel Eye Hospital. This major project is a partnership behN￿n Moorfields Eye Hospital NHS Foundation Trust, the UCL Institute of Ophthalmology and Moorfields Eye Charity, with the ambition of creating a world-leading centre for advancing eye health. in which research will play an integral role. Other biomedical research supported during the year included bi￿ngIneering laboratories in a new engineering building at the University of Newcastle, mass speclromelry equipment at the University of the Highland5 and Islands and a pioneering stem cell culture system al the Francis Crick Institute. Given growing cOn￿rnS about and threats from climate change, there was a continued trend of funding for research In this area. This included support for plant sciences. a molecular phenolyping centre al the James Hutton Instilule, plant science research facilits'es al the University of Essex and a research nursery for the Royal Botanic Gardens Kew al Wakehurst. The Wolfson Foundation has a long-standing interest in support for academics and we continued our joint progfftmme to SUPFX)rt the global recruibnent of talented researchers through Wolfson Fellowships. These are administered by the Royal Society, and match funded by government. We also conb'nued lo support the Council for Al-Risk Academics ICARAI to enable individuals fleeing war or persecution lo settle and find work in the UK, al a lime of InC￿ased instability in Afghanistan, Ukraine and elsewhere. Science education, starting at school bul continuing across all ages, remains an imFX)rtant part of our interests in this area. We continued lo fund capital infraslruclure projects to improve the leaching of STEM in secondary schools and sixth form colleges across the UK. An example during the year was the refurbishment of science laboratories al Ysgo5 y Grango in the rural village of Rhosllanerehrugog, near Wrexh8m. 121 Heritage. humanities and the arts Funding under this theme recognises the UK'S strength in these areas, and the importance of the heritage and cultural sectors for education in the widest sense, for the economy, for the enrichment of society and for our wellbeing as individuals. Our funding for heritsge, humanities and the arts supports and encourages excellence across the cultural and academic spheres.. at museums and galleries, libraries and archives, historic sites, perforrning arts organisab.ons and univerS￿ties. Museum5 and galleries remained the largest area of support under this theme. We funded capital projects across the UK including, for example an education room al the Hull Maritime Museum and the major redevelopment of Smithfield Market to create a new Museum of London (rebranded as London Museuml.

THE WOLFSON FOUNDATION TRUSTEES, REPORT FOR THE YEAR ENDED 31 MARCH 2023 The UK has an extraordinary heritage of historic buildings and some remarkable buildings received funding- from Truro Cathedral to an Edwardian bathhouse in Glasgow. Two funding partnerships in this area were renewed.. with the National Trust. supporting conservats.on work al historic properties and gardens, and with the National Churches Trust INCTI. The grants lo churches - historically signilicanl and often of striking beauty administered through NCT take our funding into many rural and often isolated communities. Since its earliest days, the Foundation has had an interest in libraries and archives. The major award this year under this heading was for the British Library's ambitious project to create a new library site at Temple Works in Leeds. We again supported the performing arts, both through the Suslainabilily Fund (see below) and through pre-exisling funding programmes including, for example. for a new artist development centre al HOME in Manchester. Alongside investment In specific projects and an ongoing interest in the academic humanities, we continued to highlight the importance of the arts and humanities to British society. The Woltson History Prize is a book prize that has been awarded annually since 1972 to recognise works that combine excellence in research with readability. The prize has developed into a voice Championing history and history writing It celebrated its 50th anniversary during 2022. An exciting year of activities included a publication by the chair of judges, Sir David Cannadine, reflecting on 50 years of the prize and describing developments in the broader context of prize-making and prize-giving In partnership with BBC History, we hosted free public events on key historical trends and themes, celebrating and shoKasing the legacy of the prize. The discussion5 were recorded for the BBC History Extra podcast. A partnership with The Reading Agency also extended the reach of the prize into over 100 libraries across the UK. From a shortlist of six books, the winner in the anniversary year was Clare Jackson for, Devil-Land.' Eng18nd under Siege, 1588-1688. The judges cornnEnted that il is, 'a Masterp￿ce that wll change our view of the 17th century. Exciting and well-written, il provides fresh insghls by looking at England through European eyes.. {3} Health The fvnding under this theme recognises the crit'calty important work done by charities large and small in communities across the UK. There is an important role for civil society lo play alongside statutory services. Our funding is focussed on four strands.. palliative care and hospices," the needs of older people." support for mentsl health", and independent living for people with disabilities. We define excellence in this context by the quality of the care and service provided to beneficiaries. One example among many is the Elsie Norminglon Foundation's Haven Centre. This is a multi-purpose Trnlre for children and young people with severe, profound and multiple learning disabilities in Inverness. It will seNe a large swathe of the Highlands and Islands. During the year, we ran an exceptional Sustainability Fund. The fund responded lo the challenge facing many organisations in funding basic maintenan￿ and the need to make buildings more energy efficient, with a benefit both in environmental tems and in reducing ongoing costs. The funding for this Initiative was In addition lo our existing programmes and was intended to be as light touch and rapid a process as possible. Given the sharp rise in energy prices during 2022, the initiative was particularly timely. The Wolfson Sustsinability Fund ran for rounds. Grants were awarded in the range of £10,000 - £50,000 with up to 1000/¢ of funding offered. In lolal, 49 organisalions received funding for projects su as LED lighting, installing solar panels and energy efficient heating systems. The individual awards are itemised al note 16.

THE WOLFSON FOUNDATION TRUSTEES, REPORT FOR THE YEAR ENDED 31 MARCH 2023 PRINCIPAL RISKS AND UNCERTAINTIES The principal risks and uncertainb'es have been set out in the Trustee's Report under the section "Risk Assessment on page 3. FINANCIAL REVIEW The trustees have prepared accounts in accordance with current statutory requirements, the FRS 102 ststement of Recommended Practice - Accounting and Reporting by Charities and the Companies Act 2006. The FoLJndation recorded a negative return on the fund's assets of £6.1 million12021122.' a poslive retum of £91.3 million) of which income nel of fees wa5 £21.4 million 12021122.. £18.6 million) and valuation losses were £27.5 million12021122. gains of £72.7 million). The portfolio of investments and cash helcs on deposit had a lolal value of £965.3 million al 31 March 202312022.. £1,010.4 million). The negative return in the year reflected struggling intemabonal markets, although valuations improved from the beginning of the calendar year 2023. Relums are applied to the charitable aims oflhe Foundation as described elsewhere in this reporL Grants awarded during the year net of relinquishments were £38.1 million12021122". £37.5 million). Payments to awardees in the year lotalled £37.3 million12021122.. £27. 1 million). The trustees hold deposits, gilts and other bonds lo cover the Foundation's current commitments. All of the Foundation's nel assets were held in unrestricted funiys as the Iruslees have power to distribute both income and capital. The Foundation has shared objectives and joint adminislralion with the Wolfson Family Charitable Trust, registered charity number 228382, at 8 Queen Anne Stree( London, W1G 9LD. Investment policy and perfomance The Foundation is managed on the basis of existing in perpetuity and hence the Foundation has the objective of maintaining the portfolio's real purchasing power after inflation over lime. The trustees allocate tunding on a total return Irather than income) basis. The long-temi investment objectThie is an average annual lotsl return of UK CPI + 4°/0 (changed from UK RPI + 4Q/D in the year ended 31 March 20201. The trustees aim to distribute al least 40A of tre fund on an annual basis. The calcul8tion of the dislribub.on is based on the average portfolio value over the last five years. The asset allttalion within the portfolio is arranged accordingly. taking advantage of the Foundation's long-term investment horizon. Policies and investment allocab.ons are continually reviewed by the Investment Committee and trustees. Trustees review the investment strategy with the Investment Committee and fund managers Isignalories to the UN Principles for Responsible Inveslmenll, in order lo ensure thal111 the Foundation can achieve or outperform its target relum in the long term.. and 121 investment decisions made by our fund managers are taken in a socially ￿ sponsible manner and in accordance with Wolfson's core principles. Responsible investment underpins the investment strategy in accordan￿ with our responsible investment policy, and Iruslees have a policy of not invesb'ng directly in tobacco companies or fossil fud extr2Ctors. The Investment Committee is responsible to the Iruslees for investment policy and monitoring the portfolio. Committee members are available lo report lo the trustees al Board meetings. Trustees and the Risk and Audit Committee ￿VIeW the terms ofthe Investsnenl Committee mandate. The Foundation's entire portfolio has been reslruclured in the last three years in line with the trustees, investment objective. The perform8nce of the portfolio is monitored by the Iruslees and the Investment Committee.

10 THE WOLFSON FOUNDATION TRUSTEES, REPORT FOR THE YEAR ENDED 31 MARCH 2023 Reserves policy The total value of the investment portfolio al 31 March 2023 was £965.4 million, as detailed above, with lolal nel funds of the Foundation standing al £881.8 million, all represented by 8n expendable endowment fund. Included in this balance is accru￿1 grant expenditure which has been committed already bul which is not due for payment until future years. As stated above, in the Investments polKy and perfom7ance sects'on, the trustees aim lo distribute some 4Q/o of the fund on an annLJal basis in grants and other expenditure. The tnjstees consider it prudent to have liquid assets within investments lo cover a significant proportion of planned expenditure. They have agreed that al least £50 million should be retained in a combination of cash and short-daled gilts. As at 31 March 2023. cash and gilts in the portfolio lolalled £74.4 million17.70/0 of the lolall. Accordingly, the trustees consider that reserves are available at a level which enables them lo plan with confidence for the future. PLANS FOR THE FUTURE As noted above, the Woltson Foundation is part way through the period of the stotegie fraTrEwork for the years 2020 10 2024. After some of the exceptional fun(ting of the last few years, the plan for 202&24 is to focus on increasing demand through our standard capital infrastructure programmes. A number of long-standing partnership programmes are also up for review.

11 THE WOLFSON FOUNDATION TRUSTEES, REPORT FOR THE YEAR ENDED 31 MARCH 2023 TRUSTEES. RESPONSIBILITIES IN RELATION TO THE FINANCIAL STATEMENTS The trustees (who are also the Directors of the Wolfson Foundation for the purposes of company lawl are responsible for preparing the Strategic Report, Trustees, Annual Report and the financial stslemenls in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice). Company law requires the trustees lo prepare financial statements for each financial period which give a true and fair view of the slate of affairs of the ch81ilable company and of the incoming resour￿$ and application of resour￿5, including the income and expenditure, of the charitable company for that peflod. In preparing these financial slatemenls. the trustees are required to.. select suitable accounting policies and then apply them consistently,. observe the methods and principles in the Charities SORP", make judgements and eslimales that are reasonable and prudent., state whether applicable UK Accounting Standards and statements of recommended practi have been followed, subject to any material departures disclosed and explained in the financial statements," and prepare the financial statements on the going concern basis unless il is inappropriate to presume that the charitable company will continue in operation. The trustees are responsible for keeping adequate records which disdose with reasonable accuracy the financial position of the charitable company and enable them to ensure that the financial ststemenls Comply with the Companies A¢1 2006. They are also responsible for safeguarding the charitable company s assets and hence taking reasonable steps forthe prevention and detection offraud and other irregularities. STATEMENT OF DISCLOSURE TO AUDrroRS So tsr as the trustees a￿ aware, there is no relevant audit information of which the company's auditors are unaware. Additionally, the trustees believe they have taken all the necessary steps that they ought to have taken as trustees in order lo make themselves aware of any relevant audit information and lo establish that the company s auditors are aware of that information. Approved by the trustees on 6 December 2023 and signed on their behalf by.. Dame Janel Wolfson de Botton DBE Chairman

UHY Hacker Young LLP Quadrant House 4 Thomas More SquafÈ London EIW 11W Hackeryoung 12 Chartered kcountants INDEPENDENT AUDITORS. REPORT TO THE TRUSTEES OF THE WOLFSON FOUNDATION Opinion We have audited the financial slalements of the Woltson Foundation (the 'charilable company'l for the year ended 31 March 2023 which comprise the Statement of Financial Acb'vilies, the Summary Income and Expendi￿re Account, the BaSan￿ Sheet. the Statement of Cash Flows and the notes lo the financial st8lemenls, including a summary of significant accounting poliaes. The financial reporting framework that has been applied in their preparation Is ap Jicable law and United Kingdom Accounting Standards, including Financial Reporhng Standard 102 'The Financial Reporb'ng Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Praclice}' In our opinion the financial stalemenls". give a true and fair view of the stale of the charitable company's affairs as al 31 March 2023 and of its incoming resources and application of resources, including its income and expenditure, for the year then ended", have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice,. and have been prepared in accordance with the ￿quirementS of the Companies Act 2006. Basis for opinion We conducted our audit in accordan￿ with Inlemational Slandafds on Auditing IUKI IISAS (UKII and applicable law. Our responsibilib.es under those standards are further described in the Auditor's sponsibilities for the audit of the finanryal 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 UK, including the Financial Reporting Council's IFRC'S) Ethical Stsndard, and we have fulfilled our other ethical responsibilities in accordance with these ￿qUIreMents. We believe that the audit eviden￿ we have obtained is sufficient and appropriate to provide a basis for our opinion. Conclusions relating to going Concern In auditing the financial statements, we have concluded that the trustees, use of the going conTrm basis of accounting in the preparation of the fi'nancial statement is appropnale. Based on the work we have performed. we have not identified any material uncertainties relating lo events or conditions that, individually or collectively, may cast significant doubt on the eh2ritable company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are aulhorised for issue. Our responsibilities and the responsibilities of the trustees with respect lo going concern are described in the relevant sections of this report.

UHY Hack¢r YOU￿ LLP QuÈdrant House 4 Thomas klore Squa Lor￿￿ EIW 1YW Hackeryoung 13 CharteiedAccountsnts INDEPENDENT AUDITORS, REPORT TO THE TRUSTEES OF THE WOLFSON FOUNDATION Other information The other information comprises the information included in the annual report other than the financial slalemenls and our auditor's report Ihereon. The trustees are ￿spOnsible for the other information Contained within the financial slalements Our opinion on the ffnancial stslemenls does not cover the other information and, except lo the exlenl olherwse expliciuy staled in our report. we do not express any form of assurance conclusion Ihereon. Our responsibility is lo read the other information and, in doing so. consider whether the other informats'on is materially inconsistent with the financial slalements or our knowledge obtained in the course of the audit. or olhenmise appears lo be materially misslaled. If we identify such material inconsistencies or apparent m81erial misstatements, we are required lo determine whelherthere is a material misslatemenl in the financial statements or a m8lerial misstatement of the other information. If, based on the work we have performed, we conclude that there is a material misstatement of this other infomialion, we are required to report that fact. We have nothing lo report in this regard. Opinions on other matters prescribed by tho Companies Act 2006 In our opinion, based on the work undertaken in the course of our audit.. the information given in the strategic report and the trustees. report for the financial year for which the financial slalemenls are prepared is consistent with the financial slatemenls., and the strategic report and the trustees, report have b&n prepared in accordance with applicable legal requirements. Matters on which we are required to report by exception In the light of the knowledge and understanding of charitable company and its environment obtained in the course of the audit, we have not identified material misstatements in the strategic report or the trustees. report. We have nothing lo report in respect of the following matters where the Companies Act 2006 requires us to report lo you if, in our opinion.. adequate accounting records have not been kept, or returns adequate for our audit have not been re￿iVed from branches not visled by us., or the financial statements are not in agreement wlh the accounts'ng 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 ￿qUIre for our audit. Responsibilltles of trustees As explained More fully in the trustees, responsibilities statement on page 11, the Iruslees are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the trustees determine is ne￿SSary lo enable the preparab.on of finanaal slalemenls that are free from material misslalement, whether due lo fraud or error. In preparing the financial statements, the trustees are responsible forassessing the Charitable company's ability to continue as a going concem, disclosing, as applicable, matters related to going concern and using the going concem basis of accounting unless the trustees either intend to liquidate the eharilable company or lo cease operations, or have no realistic allern81ive but to do so.

UHY Hacker Young LLP Quadont HoLtsÈ 4 ThDma5 More SqLwre London Elw IYW Hackeryoung 14 Chartered Accountants INDEPENDENT AUDITORS. REPORT TO THE TRUSTEES OF THE WOLFSON FOUNDATION Audltorfs responslbllitles for the audlt of the flnaneial ststement$ Our objectives are lo obtain reasonable assurance about whelherthe financial slalemenls as a whole are free from material misstatement, whether due to fraud or error. and to issue an auditor's report that includes our opinion. Reasonable assurance is a high level of assurance. bul is not a guarantee that an audil conducted in accordance with ISAS IUKI ¥MII ab￿ayS dele¢l a material misslalemenl when il exists. Misstatements can arise from fraud or error and are considered material if. Individualty or in the aggregate, they could reasonably be expected to influence the economic decisions of users tsken on the basis of these financial statements. Irregularities, Including fraud, are instances of non-CDmpliance with laws and regulations. We design procedures in line with our responsibilities, outlined above. lo delecl material misstatements in respect of irregularities, including fraud. The extent to which our procedures are Capable of delecling irregularities. including fraud is detailed below.. Based on our understanding of the charitable company and the industry in which it operates, we identified that the principal risks of non<omplian¢e with laws and regulations related to the acts by the charitable company, which were contrary to applicable laws and regulations including fraud. and we considered the extent lo which noll-compliance rllighl have a material effect on the financial statements. We also considered those laws and regulations that have a direct impact on the preparation of the financial ststements such as the Companies Act 2006. We evaluated management's incentives and opportunities for fraudulent manipLJlation ol the financial statements lincluding the risk of override of conlrolsl, and determined that the principal risks were related to the valuation of the charity's investments, inflated revenue and the charitable company's net income for the year. Audit procedures performed lo assess the valuation of the charitable company's investments included. confirmation of the valuation of investment balances from the investment rnanagers and a review of the most recent Service Organisation Controls Reports in relation to those investments We obtsined the m051 recent audited financial statements for the assets under management by Oxford University Endowment Management Litnited and the various assets managed by JP Morgan to confirm that there were no indictors of impairment and that they were prepared on a going concem basis. To assess inflated revenue and the charitable company's net income for the year audit procedures perfomed included." a review of the financial slalemenl disclosures lo underlying supporting documenlalion. review of ¢Otresponden¢e with legal advisors, enquiiies of management and lesling of journals and evaluating whether there was evidence of bias by the trustees that represented a risk of material misstatement due lo fraud. There are inherent lirnitations iri the audit procedures described above and the further removed non- Compliance with laws and regvlations is from th& events and Iran5aclions reflected in the financial statements, the less likely we would become aware of it. Also, the risk of not detecting a material misslalement due lo fraud is higher than the risk of not detecting one resulting from error, as fraud may invo5ve deliberate concealment by, for exarnple, forgery or intentional misrepresentations, or through Collusion. A ftjrther description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Gouncil's website at.. http."IAvww.fr¢.org uklaudilorsresponsibilities. This description forms part of our auditor's report.

UHY Hacker Young LLP Quadrant House 4 TFK)ma5 More Square L(Mdon EIW 1YW Hackeryoung Charter8d Accountants INDEPENDENT AUDITORS. REPORT TO THE TRUSTEES OF THE WOLFSON FOUNDATION Use of our report This report is made solely lo the charitable company's trustees, as a b(xly. in aC￿rdan￿ with Chapter 3 of Part 16 of the Companie5 Act 2006. Our audit work has been undertaken so that we might slate lo the charitable company's Trustèes those matters we are required lo slate to them in an audilorfs report and for no other purpose. To the fullest exlenl permitted by law, we do not accept or assume responsibility to anyone other than the charitable company and ils Trustees as a body. for our audit work, for this report. or for the opinions we have fomied. Subarna Baneoee (Se ior Stalulory Audilorl for and on behalf of UHY Hacker Young, Statutory Auditor London 11 December2023

16 THE WOLFSON FOUNDATION STATEMENT OF FINANCIAL AcTIV￿lEs FOR THE YEAR ENDED 31 MARCH 2023 2023 £'ooo 2022 £'ooo Notes Income from: Investments 23.454 20,386 Totsl incom8 23,454 20,386 Expenditure on: Raising funds {investment management fees) I2.(￿9) {1,7S91 Charitable activities.. Science Arts and humanities Education Health 119,5011 110,4901 13,9531 15,6111 117,3281 17.663} 19,2681 14,5091 Total Charitab￿ aclimlies 139.5551 138,7681 Other expenditure 10.1 1301 Tot81 exp8nditure 141,6541 140.5371 Other recognised gains and losses Nel realised and unre81ised Ilossesl I gains on disposal arid revaluation OF. Investment assets 10 Foreign exchange 123.845} {3,6431 74,891 {2,2411 Total recognis8dg8ins andlosses 127,4881 72,650 Net moven7817tin funds 145.6881 52,499 Reconclllation of funds Total funds brought forward 927,537 875,038 Total funds carried forward 881,849 927,537 The realised and unrealised losses of £23.846,06512022 gains.. £72,650,202) reflect a general decrease in market values. The realised gain on disposal by reference to the original Gosls of the listed investments, was £25,806,29312022.' £42,902.5631. All recognised gains and losses have been included in the Statement of Financial Acti￿lieS and the amounts included are derived entirely from the ordinary activities of the charitable company.

17 THE WOLFSON FOUNDATION SUMMARY INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 MARCH 2023 2023 £'ooo 2022 rooo Income Investment income 23,454 20,386 Net recognised Ilossesl I gains {27,488) 72,650 Total loulgoing) l incoming resources 14,0341 93,036 Expenditure Raising funds 12,069} 11,7691 Charit2ble aclivib.es 139,5551 138,7681 Other 1301 Total expenditure 141.654} 140,5371 Net movement in funds 145,6881 52,499

18 THE WOLFSON FOUNDATION BALANCE SHEET FOR THE YEAR ENDED 31 MARCH 2023 2023 £'ooo 2022 £'ooo Notes £'ooo £'ooo Fixed assets Investments Leasehold Land and Buildings 10 10.1 913,535 275 939,710 273 913,810 939,983 Current assets Investments Debtors Cash al bank 10 51,831 1,656 322 70,675 1,641 285 53,809 72.601 Creditors.. amounts falling due within one year 12 146,6521 141,1071 Net current assets 7,157 31,494 Total assets less current liabilities 920.967 971,477 Creditors: amounts falling due after one year 13 {39,1181 143,9401 Total net assets 881,849 927,537 Funds Expendable endowment fund 881.849 927,537 The financial ststements on pages 16 10 52 were approved by the Trustees on 6 De￿rnber 2023 and were signed on their behalf by". fLo-IL Dame Janet Wolfson de Botton DBE Chaiman Paul Rarnsbottom Chief Executive Company registration no 08927040

19 THE WOLFSON FOUNDATION STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 MARCH 2023 2023 £'ooo 2022 £'ooo Notes Cash used In operatlng activlties 14 144,5591 134,8791 Cash flows from investing activities Income from investments Purchase of investments ProTreds from sale of investrnents Decrease I lincreasel in current asset investrments Office refurbishment expenditure 23,454 20,386 1346,7371 1223,9481 349,067 242,845 18.844 14,0491 1321 12731 11i'1 Net cash provided by investing actlvities 44,598 34,961 Change ID cash at bank in the year 37 82 Cash al bank brought forward 285 203 Cash at bank carried foThvard 322 285

20 THE WOLFSON FOUNDATION NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023 Accounting policios The parbcular accounting policies adopted by the Iruslees are set out below.. la} Basis of preparation The financial statements have been prepared under the historic cost convention, with the exception that investments are included at market value. The financial statements have been prepared in accordance with the Statement of Recommended Pra¢ti¢e'. Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reptsrting Standard applicable in the UK and Republic of Ireland IFRS 1021 leffeclive 1 January 20151 {Charilies SORP IFRS 10211,. the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland IFRS 1021, the Charities Act 2011 and the Companies Act 2006. The most significant aoas of judgement and key assumptions that affect items in the accounts relate lo eslimaling the liability from mulli-year grant commitments (see note 9 for more information), and the level of investment returns and the perfomiance of inveslmenls. The most significant 2re8s of uncertainty that affèct the carrying value of assets held by the Foundation are the level of investment retums and the perf0mlan￿ of investments. The financial slalements have been prepared in sterling, which is the functional currency of the Foundation. Monetary amounts in these financial ststemenls are rounded lo the nearest £'OOO. Ib} Going concern The trustees consider that as the finances are based on a long-lerm endowment there are no material uncertainties about the Foundats'on's ability to continue as a going concern. {cl Investment income All income is recognised On￿ the charity has enlillemenl to the income, it Is probable that the income will be re￿1ve(s and the amount of income receivable can be measured reliably. Id) Resources expended Expenditure is included on an accruals basis. Grant awards and other liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the Foundation lo that expenditure, il is probable that settlement will be required and the amount of the obligation can be measured reliably. {el Allocation of management and administration expenses Management and adminislralion expenses are allocated first between charrtable activity and governan￿. Support costs are apportioned evenly amongst the four grant making categories. The allocation of management and adminislralion expenses is analysed in note 5. lfj Governance ¢osts Governance costs comprise all costs involving the public accountability of the charitsble company and its compliance with regulation and good practice. These costs primarily include costs related lo slalutory audit, accountancy and legal fees.

21 THE WOLFSON FOUNDATION NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023 Igl Foreign exchange Monetary assets and liabilib.es denominated in foreign currencies are translated into sleding at the rates of exchange ruling al the balance sheet (Jale. Transacb"ons In foreign cu￿en¢1es are recorded al the rate ruling al the dale of the transaction. All dIfferen￿S are taken lo the expendable endowment fund. (h) Investment assets Investments are a form ol basic finanThal instrument and are inib'ally recogni8ed al their transaction value and subsequently measured at their fair value as al the balance sheet date using the closing quoted market price where available. Where this Is not available, for example with private equity investments. induslry-slandard valuation methods are applied. The statement of financial acb'vilies includes the nel gains and losses arising on revaluation and disposals throughout the year. Cash and 'cash-like' securities with high liquidity are managed as part of a portfolio of investsnenl assets and are included as current assets. Gains and losses on investments Realised gains and losses on investments are calculated as the difference between sale prcteeds and opening market value lor the purchase dale cost if acquired during the yearl. Unrealised gains and losses on investments are calculated as the difference be￿een the closing mid-market value al the year end and opening mid-market value lor purchase dale cost if acquired during the yearl. Realised and unrealised gains and losses on investments are not separated in the statement of financial aclivib'es and are recognised in the statement of financial activib.es as they arise. Leasehold Land and Buildings The Woltson Foundation offices have been refurbished. The expenditure has been capitslised in these accounts as a tangible fixed asset. Ils value is subject lo depreciation on a slraighl-line basis over a useful economic life of 10 years Imalching the period of the Foundation's current lease of the propetyl with the first such charge recognised for the year ended 31 March 2023 as sel out below. Analysis of opening and closing carying arnounls in respect of Tangible Fixed Assets.. Totsl 2023 £'ooo Total 2022 £'ooo Leasehold Land and Buildings Opening cost Additions during the year 273 32 273 Closing cost 305 273 Annual Depreciation Opening charge Additions during the year 1301 Closing charge 1301 Net opening value 273 Net closing value 275 273

22 THE WOLFSON FOUNDATION NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023 Key sources of estlmation uncertainty and Significant judgements made in applylng the accounting pollcles The preparation of the financial statements requires the application of certain estimates and judgements. The material areas of either estimation or judgement are sel out below. Estimates and judgements are continually evaluated and are based on historical experience and other factors. Including expectations of future events that are believed lo be reasonable under the Clrcumstsn￿s. Each of these areas are considered by the Risk and Audit Committee based on Information prepared by the Finan￿ team. Unquoted investments Investrnents in unquoted investsnenls are valued al the best estimate of fair value. For these investsnents fair value is estimated U￿ng a range of methodologies including price of recent investment and public comparables. Maintaining the Foundation for the longer term In order to achieve a proper balan￿ between the interests of current and future beneficiaries, the trustees have determined that they ale aiming lo preserve the value of the expendable endowment fund broadly in real temis, and that investment ￿turnS in eX￿s$ of the amount required lo preserve the re21 value of the fund may be expended in fvrtherance of the Foundation's objectives. The net value of the fund is the residual sum, dependent upon the amounts and timing of both income and expenditure. 2019 2020 2021 2022 2023 RPI at the Foundation's year end CPI at the Foundation's year end 111.8 113.5 114.6 121.7 132.5 From April 2019, CPI has been applied to the adjusted RPI figure al this dale, as the fonnal investment target changed near the year ended 31 March 2019 from RPI + 4O/D lo CPI + 4Qkn. 2019 £'ooo 2020 £'ooo 2021 £'ooo 2022 £'ooo 2023 £'ooo Actual expendable endowment fund Target expendable endowment fund 761,787 729,698 688,947 740,609 875,038 748,111 927,537 881.849 794,484 864.726 Increaselldecreasel in fund in real terms relative to March 2019 32,089 151,6621 126,927 133,053 17,123 Investment income Total Total 2023 £'ooo 2022 E'ooo Dividends Interest Interest Dividends Interest Dislribub'on UK wmpanies. unit trusts and OEICS UK securities. unit trusts and OEICS UK cash deposits Foreign securib"es, unil trusts and OEICS Foreign securities, unil trusts, OEICS and Eurobonds Oxford University Endowment Management Limited 1,592 576 899 5,652 5,091 1,268 986 13.467 12.%9 1,326 23,454 20,386

23 THE WOLFSON FOUNDATION NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023 4.1 Investment performance In setting the obje¢lives against which the perfomiance of the investment managers is measured, the Trustees 8re primanly concemed with the total return on inveslrnents, namely the sum of Investment income Inole 1lcl above) and gains and losses on investments (note 1 lil above). AllhoLJgh these constiluenl elements are required lo be shown separately in the slalemenl of financial aclivilies, no importance attaches to how much of the lolal return is rep￿sented by investment income and how much is represented by gains or losses on inveslmenls, and the investment managers are not set separate targets for these amounts. This approach is lemied a total relum approach. The long-lemi investment objeth've wa5 until March 2019 an average annual lolal return of UK RPI + 4010. This target was changed to UK CPI + 4Vo, and this has been reflected in calculations from the previous linancial year. A summary of investment perfom18nce over the last five years is sel out below. 4.2 Changes in the investment portfolio 2019 -2023 £'ooo 2019 £'ooo 2020 £'ooo 2021 £'ooo 2022 £'ooo 2023 £'ooo Opentng value of investments A 806,308 831,407 772.180 950,342 1,010,385 806.308 Investment income Investment gainslllossesl Investment m8n8gement fees 23,650 21.171 18,798 38,568 148.0491 205,917 19121 11,5521 11.6501 20,386 72,650 11.7691 23.454 107.459 127.4881 241.598 12,0691 17.9521 Total retum Amounts wrthdrawn from portfolio Inote (ill 61,306 128,4301 223.065 91.267 (6,1031 341,105 136,2071 130.7971 144,9031 131,2241 138,9161 1182.0471 Closing value of investments 831,407 772,180 950,342 1.010.385 965,366 965,366 {il These amounts are on a "cash basis" being the monies withdrawn from the investsnenl portfolio in the period in order to pay grants and disburse other expenditure. 4.3 Investment retums compared to the Foundation's obje¢tive 2019- 2023 average 2019 2020 2021 2022 2023 Actual return 'h (BIA} 7.60 /. 13.42Ohl 28.890 9.98Qk 10.600h} 8.49°/ Target return QA IRPI + 4Qhl 6.99'10 Target ￿tuM Ok (CPI + 4¢/01 5.500 5.01°h 10.20°A 12.84% 8.10° Retum in excess gf I Ibelowl target % 0.61% 18.92QAI 23.88°kn {0.22Qhl 113.44QAI 0.39%

24 THE WOLFSON FOUNDATION NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023 4.3 Investment returns compared to the Foundation's objective Icontinu9dl 2019 £'ooo 2020 £'ooo 2021 £'ooo 2022 £'ooo 2023 £'ooo Total £'ooo Actual return £'OOO Target relum £'OOO IC x Al 61,306 {28.430} 223.065 56,390 45.689 38,709 91,267 16,1031 341,105 96,923 129,746 367,457 Return in excess ofllbelowl target £'ooo 4,918 174.1191 184.358 15,8581 1135,8491 126,3521 Grant making actlvltles Grants Allocated awarded expenses Inetl INote 61 £'ooo £'ooo Total 2023 £'ooo Total 2022 £'ooo Scien Arts and humanities Education Health 19.124 10,113 3,576 5,234 377 19,501 377 10,490 377 3,953 377 5,611 17,328 7,663 9,268 4,509 38,047 1,508 39,555 38,768 The total management and administration expenses are apportioned evenly amongst the four grant making activities. Significant aspects of the grant activity during the year are described on pages 6 10 8 of the Trustees, report. 5.1 Charitsble expenditure The Trustees aim to distribute approximately 40/0 of the fund, including administrative costs. on an annual basis. The value used lo calculate the nomial target distribution is the average of the last five years. investment portfolio value. 2019 2023 £'ooo 2019 £'ooo 2020 £'ooo 2021 £'ooo 2022 £'ooo 2023 £'ooo Actual charitable eXpendItLJ￿ lil Target charitable expenditure 38.737 31.965 44,410 32,302 36,974 31,996 38,768 33,639 39.555 198,444 34,975 164,877 Expendrture in excess ofllbelowl target 8.772 12,108 4,978 5.129 4.580 33,567 lil These amounts are on an "accruals basis" meaning that grants are included in the year of award, as described in note 1 Idl.

25 THE WOLFSON FOUNDATION NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023 Management and administration expenses Grant Govemance making Costs activities £￿00 £'ooo Total 2023 (Note 51 £'ooo Total 2022 £￿00 Consultancy costs Auditors. remuneration 36 32 47 23 89 125 32 47 23 790 153 338 121 audit services other services 59 Legal fees Staff costs Rent and service Charges Other expenses 790 153 325 732 123 198 13 151 1,357 1.508 1,251 The governance costs comprise costs of running the Foundation and planning for future developments. Including audit and legal advice for the Trustees and costs of complying with conslilulional and slatulory requirements, such as Trustees, meetings and the preparation of accounts anc$ Satisfying public accountability. The costs relating lo grant making activity represent costs incurred in assessing applicat'ons, administrab'on of the grants awarded and post-grant monitoring No staff costs are allocated lo governance costs as the amount of related acts'vity is immaterial compared to the grant making activity. Trustees, remungration No fees are paid lo trustees for their services as Board Members. As allowed by the Memorandum and Articles. consultancy fees of £35,00012022." £30,0001 were paid lo trustees in conne¢lion with the work they undertook in advising on applications lo the Foundation capped al £5,000 pa each to Sir David Cannadine, Dame Hermione Lee, Sir Michael Pepper, Sir Pelei Ralclrffe, Dame Jean Thom8s, Lord Turnberg, and Allegra Berman. Trustees who are family members did not receive any remuneration. Expenses amounting in total lo £17.06312022'. £6,535) were paid in respect of all 1112022." 111 trustees for trustee indemnity insurance and sundry costs. Staff costs The Foundation employs 12 full-lime and part-lime staff. The average number of full-time equivalent stsff in the year approximates to 11 12D22'. 101. 2023 £'ooo 2022 £'ooo Salaries Social security costs Pension & other benefit costs 651 76 63 606 68 58 790 732 One employee received emoluments be￿een £120,OW and £130,000. Two employees received emoluments between £70,000 and £80,000. The total employment benefits. including employer pension contributions of the key management personnel, were £307.81312022.' £290,832). This total does not include consultancy fees paid to trustees (please see nole 7 above).

26 THE WOLFSON FOUNDATION NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023 9. Grants awarded for future payment Grants awarded by the Trustees for future payment al 31 March 2023 total £85,400,065 12022". £84,649.0771 as follows.. Grants Grants Grants At awarded relinquished paid At 31 March during the during the during the 31 March 2022 year year year 2023 £'ooo £'ooo É'ooo £'ooo £'ooo Scien Arts and humanities 46,427 21,611 19,124 10.114 (18,9991 46,552 {6,5291 25,195 Education 12,617 3,577 (8,2481 7.945 Health 3,994 5,339 11051 13.5201 5.708 84,849 38,154 11071 137,2961 85,400 Due within one year Inole 121 Due after more than one year (note 131 40,709 43,940 46,282 39,118 84,649 85,400 A summary of grants awarded during the year is set out in note 16. 10. Investsnents Market value Purchase Market value 2023 Sale proceeds Gains I (losses} 2022 costs £'ooo £'ooo £'ooo £'ooo £'ooo Fixed asset investments Listed Investments 521,893 328,647 {342.7881 {21,3061 486,446 other Investments Private Equity Funds Oxford Endowment Fund 73,679 344,138 17.894 196 16,0831 18,942 104,432 11961 121,4811 322,657 939,710 346,737 {349.0671 123.845} 913,535 Current asset investments Cash 2nd C2sh Equivalents 70,675 51.831 Total investment assets 1,010,385 965,366 The historical cost of these investments as at 31 March 2023 was £849,910,28712022.' £845,902,008).

27 THE WOLFSON FOUNDATION NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023 11. Debtors 2023 £'ooo 2022 £'ooo Accrued income Sundry debtors 1.650 1,636 1,656 1,641 12. Creditors: amounts falling due within one year 2023 £'ooo 2022 £'ooo Grants payable (Note 91 Accrued investment management fees Accrued expenses of adminislralion Sundry creditors 46,282 40.709 334 356 30 46,652 41,107 13. Creditors: amounts falling due afterone year 2023 £'ooo 2022 £'ooo Grants payable (note 91 39,118 43,940 14. Reconciliation of net incomel{expenditure) to net cash flow from operating activities 2023 £'ooo 2022 £'ooo Net loulgoingl l incoming ￿sOurCeS Asset depreciation charge Net losses J Igainsl on Investments Investment income Increase in debtors Increase in creditors 145,6881 52,499 30 23,845 174,8911 123,4541 120,3861 1151 11141 723 8.013 Net cash outtlow from operating activities 144,5591 134,8791

28 THE WOLFSON FOUNDATION NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023 15. Joint administration The charitable company has shared objectives and joint adminislralion with the Wolfson Fami Charitable Trust, registered charity number 228382, al 8 Queen Anne Street, London W1 G 9LD. 16. Grants awarded during the period Science and Medicine Science and MedicinelS¢ientific Research University College London, WC1 E -Research facilities within new Oriel Eye Hospital The Francis Crick Institute, London NW1 -Aulomaled stem cell culture system Newcastle University -Equipment for biorlledical engineering laboratories in the new Department of Engineering building James Hutton Instilule. Dundee -Equipmenl for new Molecular Phenotyping Centre Royal Botanic Gardens, Kew -conservation and research nursery at Wakehurst, West Sussex University of Essex, Colchester -controlled environment facility supporting research in crop production {Smart Technology and Experimental Plant Suite) University of Manchester -Pilot plant used for research in sustainable hydrogen production and energy materials science 5.000,000 1.100,000 1,100,000 1.000.000 1,000,000 1,000,000 1,000,000 University of Slirling -Nalional Aquaculture Technology and Innovation Hub The Open University, Milton Keynes -Equipment for Cenlre for the Environmental Boundaries of Life University of Hertfordshire, Hatfield -Research space for the National Centre for Biodetection and Instrumentation Research 1.000.000 750,000 750,000 Cranfield Universty, Bedfordshire -Environment Sector Decarbonisation AC￿leratOr lesl facilty Imperial College London, SW7 -Research area in the new School of Public Health 500,000 500,000 University of Cape Town -Digital laboratory for research in design and management of sustainable infraslructure engineering University of Sussex, Brighton -Nuclear Magnetic Resonance {NMRI equipment in new Centre for Molecular Slructure 500.000 500,000 University of York -Facility for indoor air quality research 500,000

29 THE WOLFSON FOUNDATION NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023 16. Grants awarded during the period (continued) University of the Highlands and Islands, Inverness -mass spectrometry equipment in new Life Sciences Innovalion Centre Aston University, Birmingham -Equipmenl for experimental low-carbon hydrogen production plant King's College London, WC2 -New Cenlre for Engineering a Sustainable Future 450.000 300,000 300,000 17,250,000 Medical Edueation The Academy of Medical Sciences, London W1 -Refurbishment of conference and meeting facilities 300,000 300,000 Israeli Medical Centers Awards were made for research equipment at the following Israeli Medical Centers.. Tel Aviv Sourasky Medical Center, Israel -sequencing equipment and flow cell dock O'oint grant with the Wolfson Family Charitable Trust totalling £420,300) Hadassah Medical Cenler, Jerusalem, Israel -Gamrna camera tioint grant with the Wolfson Family Charitable Trust to1311ing £359,100) Rabin Medical Center, Petah Tikva, Israel -Tomographic imaging system O'oint grant with the Wolfson Family Charilable Trust tolalling £359,100) Rambam Health Care Campus, Harfa, Israel -CT simulator (joint grant with the Wolfson Family Charitable Trust totalling £359,100) Chaim Sheba Medical Center, Ramat Gan, Israel -Long read sequencing equipment tioinl grant with the Woltson Famity Charitable Trust lotalling £329,000) Shaare Zedek Medical Cenler, Jerusalem, Israel -Equipment for imaging, biobanking and sequencing lj'oint grant with the Wolfson Family Charitable Trust totalling £290,000) Soroka Medical Center, Beer Sheva, Israel -Neurological robotic system Ooinl grant wrth the Wolfson Family Charitable Trust lolalling £230,000) Edith Wolfson Medical Cenler. Holon, Israel -5mage-guided therapy system lj'oint grant wrth Ihe Wowson Family Charitable Trust lotalling £153,000) 252,180 215,460 215,460 215,460 197,400 174,240 138,000 91,800 1.500,000

30 THE WOLFSON FOUNDATION NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023 16. Grants awarded during the period (continued) Exceptional Awards Council for Al-Risk Academics, London SE1 Unrestricted funding (emergency award in response to increasing support needs from Ukraine and Afghanistan) Total Science and Medicine (Total number of grants: 281 75,000 19,125.000 Education Wolfson Intercalated Awards Programme These awards are administered by the Royal College of Physicians and support selected medical students lo take a year out of their medical training for an additional research-based degree. Awards were made lo.. King's College London, WC2R University College London, WC1 E University of Birmingham Barts and the London, Queen Mary, University of London, E1 Cardiff University Newcastle University University of Glasgow University of Leeds University of Leicester University of Manchester University of Sheffield St George's, University of London, SW17 Universily of Bristol University of East Anglia, Norwich University of St Andrews Brighton and Sussex Medical School The Queen's University Belfast Universily of Aberd￿n University of Exeter University of Liverpool University of Southampton Keele Univer&ly 20.000 20,000 20,000 15,000 f5,000 15,000 15,000 15,000 15,000 15,000 15,000 10,000 10,000 10,000 10,000 5,000 5,000 5,000 5,000 5,000 5,000 4,991 254.991

31 THE WOLFSON FOUNDATION NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023 16. Grants awarded during the pgriod Icontinued) Arts and Humanltles (Educational Institutions) University of Oxford -Display and interpretation of Ihe Bale Collection within the Stephen A. Schwarzman Centre for the Humanities 250,000 University College, Oxford -study facilities within 'Univ North. development Exeter College, Oxford -Restoralion and refurbishment of library 230,000 120,000 600.000 Wolfson Postgraduate Scholarships in the Humanities This programrne supports poslgraduale research in the broad areas of languages. literature and history. Exceptional additionaS funding was awarded lo the following universities lo support increased living costs for current Wolfson Scholars". University of Birmingham University of Cambridge Durham University University College London, WC1 E University of Oxford University of Southampton University of Sl Andrews University of Watwick (including addiliollal maternity leave payment) University of York 11,000 11,000 11,000 11,000 11,000 11,000 11.000 23.125 11.000 111,125 Secondary Education STEM Beverley High School, East RKling of Yorkshire -Refurbishmenl of science laboralories 100,000 Bishop Challoner Catholic College, Birmingham -Refurbishmenl of science laboratories 100,000 Calday Grange Grammar School, Wirral, Merseyside -Refurbishment of science laboratories 100,000 Ipswich Academy, Suffolk -Refurbishmenl of food technology and DT facilities Queen Elizabeth's School, Barnet, Hertfordshire -Refurbishment of chemislry laboratories 100,000 100,000

32 THE WOLFSON FOUNDATION NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023 16. Grants awarded during the period Icontinued} Reading School, Berkshire -Refurbishment of three physics laboratories Sl John Plessington Catholic College, Bebington, Cheshire -Refurbishment of science laboratories 100,000 100,000 Sl Joseph's Catholic High School, Slough, Berkshire -creation of science laboratories 100.000 Teesdale School and Sixth Form, Barnard Castle, County Durham -Refurbishmenl of food technology facilities St Kalherine's School, Bristol -Refurbishmenl of science classr(K)ms 99,900 98,500 Ysgol y Grango, Wrexham -Refurbishment of science laboratories 96,600 Eltham Hill School, London SE9 -Refurbishmenl of food technology facilities The Crypt School, GIOU￿ster -construction and refurbishment of science laboratories Tunbridge Wells Girls, Grammar School, Kent -New chemistry laboratories, prep room and chemical store Marling School, Slroud, Gloucestershire -Refurbishment of science laboralories 85',000 81,900 80.000 62,300 Harryiown Catholic High School, Stockport, Cheshire -PCs in refurbished computer science classrooms Cotham School, Bristol -computer science suite Harrogale Grammar School, North Yorkshire -Equipment for refurbished science latK>ralories Kenilworth School & Sixth Form, Warwickshire -Speaalisl equipment for design technology department Draylon Manor High School, London W7 -Chernical storage facilities and replacement of fume cupboards Vale of York Academy, York -Refurbishment of science laboratories and preparation room Lady Manners School, Bakewell, Derbyshire -Refurbishmenl of science laboratory Gordon's School, Woking, Surrey -New science laboratory Thornleigh Salesian College, 8olton. Greater Manchester -Refurbishment of Scien￿ laboratory Pate's Grammar School, Chellenham, Glouceslershire -Fil out of new science laboratory Portadown College, Armagh -CADICAM equipment for technology and art departments Dalziel High School, Motherwell, North Lanarkshire -Design and technology equipment 53,000 50,000 50,000 50.000 49,000 48,700 47.700 44,400 40,000 34,800 33,000 32,800

33 THE WOLFSON FOUNDATION NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023 16. Grants awarded during the period Icontinuedl Secondary Education: Creative Arts CAPA Co51ege, Wakefield, Wesl Yorkshire -Performing arts equipment in main theatre auditorium St John Rigby College, Wigan, Greater Manchester -Refurbishment of graphics, arts, photography and textiles facilities Sandbach High School and Sixth Form College, Cheshire -Refurbishmenl of specialist leaching Spa￿ for art, photography and technology WQE and Regent College Group, Leicester -Product design and media facilities Northampton School for Girfs -Technical equipment in refurbished Spinney Theatre Bedale High School, North Yorkshire -Developmenl of performing arts facilities The Nottingham Emmanuel School -IT equipment and creation of a music laboratory Newlands Girls, School, Maidenhead, Berkshire -Lighling and audio equipment for music and drama performance space Townley Grammar School, Bexleyheath, Greater London -Digital music suite Haggerston School, London E2 -specialist IT equipment for sixth form art Burnside College, Wallsend, Tyne and Wear -Perfoming arts equipment 100.000 100,000 99,200 70,000 53,000 50,000 50.000 45,800 39,700 32,400 23,000 2,600,700 Exceptlonal Awards Association of Charitable Foundations -Annual contribution 10,370 Total Education {Total number of grants: 741 3.577.186

THE WOLFSON FOUNDATION NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023 16. Grants awarded during the period lcontinuedl Herita Humanities and the Arts Historic Buildings and Landscapes Barts Heritage Trust, London EC1A -Conservalion of the Hogarth Stair at St Bartholomews Hospital Royal Hospital Chelsea, London SW3 -Redevelopment of stable block to create new outreach, herrtage and visrtor ntre 250,000 200,000 Truro Cathedral, Cornwall -Repair lo roof of St Mary's Aisle Chichester Cathedral, West Sussex -Roof restoration Trinity Theatre & Arts Cenlre, Tunbridge Wells, Kenl -Restoralion and interpretation South Somerset District Council, Yeovil, Somerset -Inlerprelation and new visitor cenlre at Ham Hill Country Park Govanhill Baths Community Trust, Glasgow -Redevelopmenl of wash house lo create cultural, archive and heritage faalrties 150,000 100,000 75,000 74.200 50,000 National Centre for Writing. Norwich, Norfolk -conservation and interpretation of Dragon Hall 50,000 949.200 Libraries and Archives The British Library, London NW1 -Fit out of new library site al Temple Works Leeds The Leeds Library, Yorkshire -Redevelopment of neighbouring building to extend library Staffordshire County Council -Exhibition space al Staffordshire History Centre 1,000,000 100,000 100,000 1,200.000 Museums and Galleries Museum of London, London EC2Y -Redevelopment of former Smithfield General Market to creale new museum Site (to be called London Museum} Bournemouth, Christchurch and Poole Council, Dorset -shipwreck Gallery in redeveloped Poole Museum House of Illuslralion, London EC1 R -Redeve5opment of New River Head building to creale the Quentin Blake Centre for Illustration 1,000,000 200,000 150,000 Hull City Council, Yorkshire -Educalion room in refurbished Hull Maritime Museum 150,000 London Transport Museum, London WC2E -New national posler gallery 150,000

35 THE WOLFSON FOUNDATION NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023 16. Grants award¢d during the period {continued) Serpentine, London W2 -Air handling units in the South Gallery The Handel House Trust Limrted, London W1 K -Inlerpretation al the 'Handel and Hendrix in London, museum The Holburne Museum, Bath, Somersel -Lighling refurbishment The National Holocaust Centre and Museum, Laxton, Nottinghamshire -Redevelopment (J"oint grant with the Wolfson Family Charitable Trust totalling £70,000} 150,000 100,000 60.000 50.000 2,010,000 Music and Performing Arts Garsinglon Opera, Greal Milton, Oxfordshire -Educalion and outreach facilities in new arts hub at Wormsley Eslale, Buckinghamshire HOME (Greater Manchester Arts Cenlrel. Manchester -Fit out of new artist development centre I'HOME Arches'} 250,000 125,000 375.000 Sustalnabillty Fund The following organisalions were awarded funding to undertake refurbishment and maintenance works focussed on enhancing the sustainability of buildings. improving energy efficiency and reducing ongoing cosls.. Bristol Old Vic -Installation of solar panels Eden Court Theatre, Inverness -Inslallalion of LED lighling English National Opera, London WC2N -Installalion of LED lighting in the London ColiseLtm auditorium MK Gallery, Milton Keynes -Installation of green roof Rambert Dance Company, London SE1 -Replacemenl of lighting throughout the building wrth LED lighting Studio Voltaire, London SW4 -Inslallalion of solar panels, roof lights and dimmable lighting controls Colchesler Mercury Theatre, Essex -Installalion of battery storage units for solar panels Octagon Theatre Trust Limited. Bolton, Greater Manchester -Installation of LED lighting in auditorium Discover Children's Story Cenlre, London E15 -Inslallation of LED lighting and replacement of single glazed windows Lei￿ster Theatre Trust Ltd Itla Curve Theatre) -Replacemenl of foyer lighting with LED lights at Curve Theatre 50,000 50,000 50.000 50,000 50,000 50,000 49,800 49,800 49,800 49,600

36 THE WOLFSON FOUNDATION NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023 16. Grants awarded durlng the period Icontinuedl The Manchester Young People's Theatre Limited {Ua Contactl -Installing of LED lights at Conlacl Theatre Tron Theatre, Glasgow -Double glazing and improving the insulation of the building York Archaeological Trusl -Environmenlal improvements at JORVIK Viking Centre., DIG, an Archaeological Adventure., and Barley Hall Medieval Townhouse Polka Theatre, London SW19 -Installation of energy efficient radialors in the main house and the purchase of an electric van for the production team and schools touring Royal Shakespeare Company, Stratford-upon-Avon, Wa￿1Ckshlre -Inslallalion of a lighling control system and LED lighting in backstage areas of the Royal Shakespeare Theatre Glasgow Women's Library -Insulation of the library building South London Gallery, London SE5 -Installalion of air source heal pump Arkwright Society, Mallock, Derbyshire -Resloration of the hydro turbine at Cromford Com Mill The David Parr House. Cambridge -window repairs and secondary glazing, insulation and draft exclusion. floorboard gap filling, rainwater butts and biodiversity enhancemenls The Mary Rose Trust, Portsmouth -Replacemenl halogen lighting in the Mary Rose Museum foyer with LED lighting Hallé Concerts Society, Manchester -Installation of solar panels on the Hallé Sl Peter's building eal Martyn Trusl, St Austell, Cornwall -Inslallation of energy-efficienl water heaters, water wheel pump, lighting and healing in the MuSe￿M buildings 49,500 48,200 48,000 45,000 44,600 44,000 44,000 40,000 34,600 27,800 20,300 15,800 960,600 Partnership Programmes During the year, the following partnership programmes were renewed.. Art Fund, London N1 -Purchasing of works of art and support for curators across UK lover three years, 2023-251 National Trust, Swindon, Wiltshire -Joint programme for conservation work al historic properties and gardens across England, Wales and Northern Ireland lover three years. 2023-251 National Churches Trust, London SW1 -Joinl programme lo fund historic fabric repairs for churches across UK lover three years, 2023-25} 1,800,000 1,500,000 1,236,000

37 THE WOLFSON FOUNDATION NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023 16. Grants awarded during the period Icontinuedl Exceptional Awards Adam Sisman -Research costs for a biography of Lord (Asa} Briggs, previous winner and judge of the Wolfson History Prize 8,000 Wolfson History Prize The WoKson History Prize is awarded annually to promote and recognise outstanding history written for a general audience. The prize was awarded in 2022 10.. Clare Jackson for Devil Land.. England Under S￿ge. t58&1688 50,000 (Allen Lane) The shortlisled authors for the prize were.. Marc David Baer for The Ottomans.. Khans, C8esars 8nd Caliphs 5,000 {Basic Books) Icolm Gaskill for The Ruin of all Wrtches.. Lrfe and Death in the New World 5,000 (Allen Lane) Nichola5 Orme for Going to Church in Medieval England {Yale University Press) Frances¢a Stavrakopoulou for God.. An Anatomy (Picador) Alex von Tunzelmann for Fallen Idols.. Twelve Statues That Made History 5,000 5,000 5,000 (Headline} 75.000 Total Heritage, Humanities and the Arts {Totsl number of grants: 541 10,113,800

38 THE WOLFSON FOUNDATION NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023 16. Grants awarded durlng the period Icontinuedl Health and Disabili Disability, Mental Health and Older People One Small Thing, London SE1 -Garden and kitchen in new trauma facility supporting women and their children involved in the Justi￿ system in Southampton Carnphill Milton Keynes, Buckinghamshire -New residential accommodation to support older adults with leaming disabilities and autism 125,000 100.000 Camphill School Aberdeen -construction of a residential house wrth an independent living wing enabling young people wrth learning disabilities and complex additional support needs to practise life skills Helen Bamber Foundation, London NW1 -clinical and mental health suites In new premises providing Irauma- informed support to people who have experienced IrafFicking or torture Venus Charity, Bootle, Merseyside -Refurbishmenl of listed building lo house the charity's mental health seNices for women and families 100,000 100,000 100,000 Elsie Normington Foundation, Inverness -construction and fil-oul of a community café in the new Haven Centre providing work experien￿ placements lo young people with learning disabilities across the Highlands The Gra￿ Eyre Foundation, Hove. East Sussex -Renovalion lo create new supported living accommodation for adults with learning disabilities andlor autism The National Star Foundation, Cheltenham. Gloucestershire -New residential accommodation for young people with disabilities at specialist college in Ullenwood, Gloucestershire Sl Philip's School, Chessinglon, Surrey -construction of a new vocational leaming ￿ntre supporting pupils with specral educational needs Castel Froma Neuro Ca￿, Royal Leamington Spa, Warwickshire -Extension of home (Helen Ley srtel for people with neurological conditions or acquired brain injury Horalio's Garden, Salisbury -New garden in Musgrave Park Hospital, Belfast supporting the mental wellbeing of patients undergoing rehabilitation from spinal injury The Garwoo(J Foundalion, Croydon, Greater London -New purpose built Life Skills Centre for sludents with special educational needs aged 19-25 al Rutherford School (to be allocated towards the 18ssrooms or communty café on the ground floor) Liberdade Community Development Tru51, Newcastle upon Tyne -Refurbishment of Gosforth Civic Theatre to provide work and volunteering opportunities for people with learning disabilities 80,000 80,000 80,000 80,000 75,000 75,000 75,000 75.000

39 THE WOLFSON FOUNDATION NOTES TO'THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023 16. Grants awarded during the period leontinuedl Molor Neurone Disease Association, Northampton -Purchase of communication aids and wheelchair adaptive equipment for people with MND across the UK North Easl Autism Society, Chesler le Slreet, County Durham -Enterprise hLJb at New Warlands Farm providing training and employment opportunities lo individuals with aut15m Sense, London N1 -creation of a hub in Loughborough supporting people who are deafblind or have complex disabilities Nonmich Samaritans -Refurbishment of premises providing mental health support Foreland Fields School, Ramsgale, Kenl -CrÈation of hub providing training opportunities for children and adults with special needs MAIN Taking Autism Personally, Middlesbrough -Refurbishmenl to create learning areas and a communty café enabling people with autism lo learn life skills and gain WO￿ expeiience Orwell Mencap, Ipswich, Suffolk -New bike workshop providing training opportunities for adults wrth learning disabilities 75,000 75,000 75,000 70,000 60,000 60,000 60.000 L'Arche Belfast -Purchase of two minibuses to transport adults with learning disabilities lo access horticultural and food preparation skills training Briarwood School, Bristol -Refurbishmenl works lo support post-16 students with special needs lo pradise lrfe skills Age UK East Sussex, Lewes -Refurbishment lo create new wellbeing and leisure centre Ilsabel Blackman Centrel for older people and people living wrth disabilities Checkin Works, Perth -creation of a community kitchen offering training opportunities to adults wrth learning disabilitie5. autism and mental health drfficullies Framework Housing Association, Nottingham -construction of supported living accommodation for people with mental heallh difficulties 58,100 51,300 50,000 50,000 50,000 Meadow High School. Hillingdon, Greater London -creation of a café and shop providing culinary and hospitality work experience to pupils with special educational needs Portland College, Mansfield, Nottinghamshire -construction of a manufacturing trade centre providing Iraining lo students with disabilities aged 16-25 Projed Art Works, Hastings, East Sussex -Refurbishmenl of Arche 3 of the premises providing support and training to people with complex support needs 50.000 50,000 50,000

40 THE WOLFSON FOUNDATION NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023 16. Grants awarded during the period {eontinugdl Sea Sanctuary, Falmouth, Cornwall -Refurbishment of boat and development of outdoor quayside space to establish a new Irauma-focused mental heatth service 50.000 Transform Housing and Support, Lealherhead, Surrey -New supported accommodation for young care leavers and single mothers wilh mental health needs in Redhill, Surrey Royal National Inslilule for Deaf People IRNID), Peterborough -Purchase of tablets to support free hearing checks particularty lo older people and those in care homes across the UK 50,000 49,900 North East Homeless, Newcastle upon Tyne -Refurbishment to create mental health and wellbeing suite, with therapy and counselling rooms providing mental health support for those who are homeSess or at risk of homelessness in North Shields, Tyne and Wear Body & Soul, London EC1R -Refurbishrnenl to create therapeutic space providing mental health support to individuals affected by trauma St Mary's School, Heathfield, East Sussex -Refurbishment of existing space and construction of three new leaching areas supporting pupils with special edLJcalional needs to access vocational training Age Scotland Orkney -Refurbishment to create community hub providing activities for older people in the Orkney Islands Methodist Homes, Derby -Purchase of IT equipment to support an intergenerational video-based project for older people lo reduce isolation across Ihe UK Wafford & District Mencap Society, Hertfordshire -Construclion of a conservatory al the charity's new site providing a multi- purpose Spa￿ for individuals with learning disabilities Inspire, Belfast -Replacemenl ofwindows al community hub (Woodlands Community Wellbeing Service) supporting individuals with autism, mental health and addiction needs in Cookslown, County Tyrone Deafblind Scotland, Kirkinlilloch, East Dunbartonshire -upgrade of pathway to improve accessibility to the Learning and Development Centre for deafblind people Greenock Medical Aid Society, Inverclyde -Developmenl of accessible outdoor space at Bagalelle home providing ursing and care lo older people with neurodegenerative conditions Care & Repair Cymru, Cardiff -Purchase of equipment to support delivery of housing and energy advice to older and vulnerable people across Wales Menlal Health Innovations, London W10 -Purchase of IT equipment to support a UK wide 2417 text based mental health support service 45,900 45,800 45,800 45.000 45,000 44.800 44,200 41.500 40,000 34.800 30,400

41 THE WOLFSON FOUNDATION NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023 16. Grants awarded durlng the perlod Icontlnued) JPC Community Farm, Stokesley, North Yorkshire -Purchase and fil-oul of two modular buildings to create Iraining rooms supporting young adults with special needs Ysgol Hen Felin, Yslrad, Rhonda Cynon Taf -creation of a community café to be run by pupils with special educational needs 30,000 30,000 COGS Prepares 4 Lrfe CIO, Burntwood, Staffordshire -Installalion of a greenhouse lo facilitate a horticulture training programme for adults with learning disabilities The Eric Liddell Cenlre, Edinburgh -Ground floor refurbishment of community centre supporting people living th dementia 26,400 24,500 SAGE Sheffield -upgrade of allotment providing horticulture therapy to adults with mental health problems 23.900 2,777.300 Hospices and Palliative Care Ayrshire Hospice -Redevelopmenl of hospi Charlie House, Aberdeen -New palliative care centre providing paedialric palliative care and support across north-east Scotland 150.000 150.000 Countess Mountbatten Hospice Charity Limited, Southampton -Refurbishmenl of inpatient unil and new nurse station al hospi￿ providing pallialive care to patients in Hampshire Hospice Isle of Man, Braddan -New boiler for hospice seNing the Isle of Man Martlets Hospice, Hove, East Sussex -Redevelopment of hospice providing serving Brighton and Hove St Margaret of Scotland Hospice, Clydebank, West Dunbartonshire -Reconfiguralion and refurbishment of inpatient unit Forest Holme Hospice Charity, Poole, Dorset -Refurbishmenl of Forest Holme Hospice Kirkwood Hospice, Huddersfield, Wesl Yorkshire -Development of outside area to support people with life limiting illnesses Woking & Sam Beare Hospice, Woking. Surrey -Reconfiguration of clinical office space and equipment lo enable the integration of clinical tearns providing palliative care in north-west Surrey East Cheshire Hospice, Macclesfield -upgrade of day care ￿ntre providing palliative care 100,000 100,000 100,000 1 IXJ,000 60,000 60,000 46,100 25,000 891,100

42 THE WOLFSON FOUNDATION NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023 16. Grants awarded during the period (continued) Sustainablllty Fund The following organisalions were awarded funding to undertake refurbishment and m8inlenance works focused on enhancing the sustainability of buildings, improving energy efficiency and reducing ongoing costs.. Headway Suffolk, Ipswich -Inslallalion of Variable Refrigerant Flow IVRFI heating and cooling system at the charity's main premises Henshaws Society for Blind People, Manchester -Installation of new energy-efficienl boiler al the Society's Arts and Crafts Centre in Knaresborough, North Yorkshire Murray Hall Community Trust Ltd, Tipton, Wesl Midlands -Inslallalion of energy-efficienl double glazing on windows and doors Saint Michael's Hospice, Harrogale, North Yorkshire -Installation of loft insulation, LED lighting, new hot water systems and Glazing The Brain Charity, Liverpool -Installalion of LED lights, new glazing and cavity wall insulation Garadh a Bhagh a Tuath, Isle of Barra, Western Isles -Installalion of solar array and battery storage system Simeon Care for the Elderly, Aberdeen -Installation of solar panels and battery storage Sacar, 8radford -Installalion of LED lights, roof insulation and a replacement of boiler Vision 21 (Cyfle Cymrul, Cardiff -Inslallalion of solar panels and LED lighting al Sbectrwm community centre Bedfordshire Opportunities for Learning Disabilities, Bedford -Replacement of Iwo Portakabins with better insulated units. wrth solar power and compostable toilets Camphill Community Clanabogan, Omagh, County Tyrone -Inslallation of solar array and battery storage system Care for Veterans, Worthing, Wesl Sussex -Inslallalion of boilers and cylinders at care home Hospice of the Good Shepherd, Chester -Installation of solar panels Lincolnshire House Association, Scunlhorpe -Installation of solar panels and battery storage Leeds Mencap -Inslallation of solar panels Foresight (North East Lincolnshirel, Grimsby -Installation of solar panels Alzheimerfs Support, Devizes, Wiltshire -Range of energy efficiency improvements to the Old Silk Works Day Club Bolton Hospice, Greater Manchester -Inslallation of solar panels 50,000 50,000 50,000 50,000 50,000 49,800 45,000 44,000 44,000 40,000 40,000 40,000 40,000 40,000 38,000 36.700 35,000 35,000

43 THE WOLFSON FOUNDATION NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023 16. Grants awarded during the period leontinuedl Myvision Oxfordshire, Oxford -New energy-efficienl windows and exlemal door Shooting Star Children's Hospices, Hampton. Surrey -Inslallalion of solar panels al Christopher's Children's Hospice The Abbeyfield Sociely, Brecon, Powys -Installation of new boilers at Abbeyfiekl House, Brecon Garvald Edinburgh -Repair and insulation of roof LOROS Hospice, Leicester -Installalion of three new solar panel arrays SeeAbilily. Epsom, Surrey -Inslallalion of solar panels al a residential unit in Bristol KIDS, Dudley, Wesl Midlands -5nstallation of LED lights, wall insulation, themial glazing and a new boiler at the Orchard Cenlre, DLJdley Walthew House, Stockport, Greater Manchester -Repla￿ment of boiler and installation of LED lights The Abbeyfield Society, St Albans, Herttordshire -Inslallalion of automated meter reading (AMRI metefs at Abbeyfield properties across England 35,000 35,000 34,000 30,000 30,000 28,000 20.700 16,700 13,500 1.020.400 Partnership Programrne During the year, the following partnership programme was renewed.. Hospice UK. London WC1 -Joint programme for palliatNe care training for hospi￿ and care home staff lover three years, 2023-25) 600,000 Exceptional Awards Save the Children, London EC1 - Additional humanitarian support in response to the crisis in Ukraine 50,000 Total Health and Disability {Totsl number of grants: 86 items) 5.338.800 Total grants awarded (Total number of grants.. 2421 Grants relinquished during the period Total grants awarded Inetl 38.154.786 107.096 38,047,690

THE WOLFSON FOUNDATION NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023 16. Grants awarded durlng the period Icontinuedl Continuin Pro n addition to Ihe awards above. a further 154 awards lotalling £6,418.333 were made in programme areas where overall funds had been allocated in a previous financial year land hen￿ the individual awards below did not involve additional allocations of funds). Awards are noted in the year that they were ratrfied by trustees of the Wolfson Foundation. ramme5 Royal Society Wolfson Fellowship Awards113 awaTd$l This programme is jointly funded with the Department for Business. Energy & Industrial Strategy (the Department for Science, Innovation & Technology from February 2023}, in partnership with the Royal Society. The programme has two elements111 the Royal Society Wolfson Fellowship enables UK universities and nol-for-profil research institutions to recruit leading internation81 researchers to their organisation via five-year funding',121 the Royal Society Wolfson Visiting Fellowship enables leading intemational researchers and their host organisalions to develop ongoing collaborative research links, share ideas and practi￿ over a 1-2 year timeframe. Awards were made lo the following academ￿$.. Royal Society Woltson Fellowships Professor Pedro Ballester, Department of Bioengineering, Imperial College London, SW7 Professor Matthew Cook, Department of Medicine, Universtty of Cambridge Professor Martin Davey, Warwick Medical School, Universty of Warwick Professor Philip Ernst, Department of Mathematics. Imperial College London. SW7 Professor Robert van Glabbeek. School of Informatics, University of Edinburgh Royal Society Wolfson Visiting Fellowships Professor Samuel Aparicio, CRUK Institute, University of Cambridge Professor Kristie Ebi, Norwich Medical School, University of East Anglia Professor Michael Evans. School of Geosciences, University of Edinburgh Professor Mingwang Fu. Department of Mechanical, Materials and Manufacluring Engineering. University of Nottingham Dr Luis Guslavo Barioni, Global Academy of Agriculture and Food Security, University of Edinburgh Professor Alexander Its, Departmenl of Mathematics, University of Bristol Professor Alan Kingstone, School of Experimental Psychology, University of Bristol Professor Taylor Sparks, Department of Chemistry, University of Liverpool

45 THE WOLFSON FOUNDATION NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023 16. Grants awarded during the period l¢ontinuedl British Acaderny Research Professorships {5 awards} This programme is administered by the British Academy and funds research professorships for established academics in the humanities to concentrate on a significant research programme while freed from nomial teaching and administrative commitments. Awards were made to the following academics.. Professor Michael Braddick, Professor of History, University of Sheffield Professor Brycchan Carey, Professor of English, Northumbria University, Newcastle upon Tyne Professor Maria Economou, Professor of Digital Cultural Heritage, University of Glasgow Professor Robert Gieave, Professor of Arabic Studies, University of Exeter Professor Julian Johnson, RegiLJS Professor of Music, Royal Holloway, University of London, Egham, Surrey Britlsh Academy Wolfson Fellowships {6 awards) As part of the £10,000,000 major research funding initiative in the humanities and social sCien￿S awarded to the Brrtish Academy in 2018119, fellowships worth up to £130,000 over three years were awarded to the following researchers". Dr Amena Amer, Lecturer, Faculty of Education. Health and Human Sciences Psychology, University of Greenwich, London SE10 Dr Thomas Cowan, Assistant Professor in Economic Geography, School of Geography, University of Nottingham Dr Rachel Elizabeth Fraser, Associate Professor and Tutorial Fellow in Philosophy, University of Oxford Dr Sui Ting Kong, Assistant Professor of Social Work, Department of Sociology, Durham University Dr Amber Murrey, Associate Professor of Political Geography. School of Geography and the Environment, University of Oxford Dr Michelle Williams Gamaker, Senior Lecturer in Fine Art, Goldsmiths, Universify of London, SE14

46 THE WOLFSON FOUNDATION NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023 16. Grants awarded during the period {contlnued) National Trust IS awards} The programme with the National Trust was allocated £1,500,000 {over three years) in a previous financial year. The following awards were made towards conservation work at historic properties and gardens.. Lanhydrock, Bodmin, CorTrwall1£94.0001 Repair and restoration of the Long Gallery ceiling Powis Castle, Welshpool, Powys1£20,000} Conservation of tapestrie5 Penrhyn Castle, Bangor, Gwynedd1£86,0001 Masonry repairs Coughton Court, Alcesler, Warwickshire1£200,000) Repair and restoration of Tudor Tower roof Springhill, Moneymore, County Londonderry {£100,0001 Restoration Theatres Trust Wolfson Theatre Improvement Scheme {7 awards) This programme is administered by the Theatres Trust and funds refurbishment works at smaller theatres that will improve the environmental sustainability of their buikiings and performances. The programme was allocaled £375,000 (over three years} in a previous financial year. The following awards were made". An Lanntair, Stornow8y1£20,000) Solar PV system and battery Cast, tkJncaster1£20,000} Installing solar panels Grand Theatre & Opera House, Leeds1£19,9221 Measures to cut water consumption New Diorama Theatre, London NW1 1£7,1751 Storage and reuse Spa￿ and LED Lighting Old Fire Station, Oxford1£17,030} Upgrading lo energy efficient theatre lighting The Garage Trusl, Norwich, (£20.0001 Solar array Tyne Thealre & Opera House, Newcastle upon Tyne1£19,891) Lighting replacement

47 THE WOLFSON FOUNDATION NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023 16. Grants awarded during the period (continued) Art Fund {12 awards) The programme with the Art Fund was allocaled £1,800,000 {over Ihree years) in a previous financial year. A proportion of Ihe funding1£60,000} was allocated towards the New Collecting Awards, an initiative which funds talented curators lo undertake collecting projects for their mLJseums. The following awards were made towards the acquisition of works of art.. Bristol Museum and Art Gallery, 8rislol {£20,0001 Two blue and white porcelain vases, Potter and painter unknown, attributed to Benjamin Lund's porcelain factory {c17501 The Burrell Collection. Glasgow {£50,000} L Implorante by Camille Claudel118981 Derby Museum and Art Gallery1£125,0001 Self-Portr8it at the Age ofabout Forty, and A study for'An Experiment on a Bird in the Air Pump ' by Joseph Wright of Derby Ic1772-731 The Hepworth Wakefield1£20,0001 Asymmetric vessel by Magdalene Odundo12021) Hereford Museum and Art Gallery1£80,0001 Herefordshire Hoard.. 29 silver coins, 3 gold pieces of jewellery and f silver ingot (c400-6991 National Museums of Scotland, Edinburgh (£100.0001 Mary, Queen of Scots Silver-Gilt Casket by Unknown Artist(s> Ic1493-1510) National Museum Wales, Cardiff (£20,IXIOI David Nott InteNiew by Bob and Roberta Smith (2014) Norfolk Castle Museum & Art Gallery, Norwich {£50,0001 Panoramic Landscape wrfh cornfields and dunes beside the sea by Jacob van Ruisdael117th century, date unknown) Sainsbury Centre for Visual Art, Norwich1£15,0001 Hybrid Mask (Baule/Yaure) by Yinka Shonibare {2021 } Stanley Spencer Gallery, Cookham, Berkshire1£20,0001 Portrait of Rachael Westropp by Sir Stanley Spencer119591 Ulsler Museum, National Museums Northern Ireland, Belfast {£20,000} The Druithaib's Ball by Array Collective {2017-20211 Walker Art Gallery, Liverpool1£20,IXIO) Allegory of Painting and Music by Giovanni Andrea Sirani Ic16701

48 THE WOLFSON FOUNDATION NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023 16. Grants awarded during the period Icontinuedl National Churches Trust Wolfson Fabric Repair Grants172 awards) The programme with the National Churches Trust was allocated £1,030,000 lover three years) in a previous financial year. The following awards were made towards repair work lo the historic fabric of churches.. All Saints and St Andrew, Kingston, Cambridgeshire1£5,000) All Saints, Kinglon Magna, Dorset1£3.5001 All Saints, Brightlingsea, Essex (£5.000) All Saints, Farley, Wltshire {£5.OlXI) All Saints, High Bray, Devon1£3,000) All Saints, Ripley, North Yorkshire (£4,000) All Saints, Wilby. Norfolk1£10,0001 All Saints, Woolley, Somer5et1£5,0001 All Souls, Eastbourne, East Sussex1£8.000) Ballintoy Parish Church, Antrim1£5,000} Chrisl Church, Holloway. Derbyshire1£S,000} Church of Ireland. Creggan, County Down1£2,0001 Euxton Parish Church, Lancashire1£7,5001 Findhorn Church, Moray1£10,0001 Finlry Kirk, Fintry, Slirlingshire (£3.700) Hexham Abbey, Northumberland1£6,000) Ho5y Trinity, Caister-on-sea, Norfolk (£7,500} Holy Trinity, Vvest Hendred, Oxfordshire (£5.0001 Kilmaronock Chutch, Gartocharn, Dunbartonshire1£7,5001 Saint John the Baptist, Tideswell. Derbyshire1£5,000) St Alban, Macclesfield, Cheshire1£5,0001 Sl Andrew, Sl Andrew Major, Glamorgan1£5.000} Sl Andrew's, Alfriston, East Sussex (£2,000) St Andrew, Blickling, Norfolk (£5.000) St Andrew, Rockbourne. Hampshire {£7,5001 st Andrew, Rushmere St Andrew. Suffolk1£5.0001 st Andrew's, Shifnal, Shropshire {£3,OlYJI Sl Andrew's. Stratton, Comwall1£2.000) Sl Andrews. Wheaffield, Oxfordshire1£5,000) Sl Andrews, W￿khambreaux, Kent1£5,0001

49 THE WOLFSON FOUNDATION NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023 16. Grants awarded during the period Icontinued) st Bartholomew, Horley, Surrey1£5,0001 Sl Clements, Hastings, East Sussex1£5,0001 Sl Collen, Llangollen. Denbighshire1£7,500) st Derfel, Llandderfel, Gwynedd {£5,000) st Faith, Kelshall, Hertfordshire1£5,000} St Helen's. Burgh on Bain, Lincolnshire1£5,000) St Hilary, Cowbridge, Glamorgan1£5,0001 Sl James, Parish Church, Moy, County Tyrone1£5.0001 Sl James, Burton in Kendal, Cumbria1£8,000) St James,. Vlthttehaven, Cumbria (£5,000) St John the Baptist, Hatherleigh, Devon {£5,000> St John the Baptist. Rochdale. Greater Manchester1£8,000) St John the Baptist, Tiffield, Northamptonshire1£5,0001 Sl John The Evangelist. Edinburgh, Midlothian1£10.000) Sl Laurence, East Harptree, Somerset1£5.000) st Leonard, Billingford, Norfolk1£4,0001 St Margaret, Reydon, Suffolk (£7,500) st Mary and Sl David, Kilpeck, Herefordshire1£3,0001 St Mary Magdalene, Melchbourne. Bedfordshire1£10,0001 Sl Mary Magdalene, Pulham Market, Norfolk {£5.000) Sl Mary the Blessed Virgin, East Brent, Somerset {£3,000) Sl Mary the Virgin, Beddington, Surrey1£4,000} st Mary the Virgin, Clapham, Wesl Sussex {£2,5001 St Mary the Virgin. Northill, Bedfordshire {£7.5001 St Mary the Virgin, Slevington, Bedfordshire1£5.0001 St Mary, Cogges, Qxfordshire {£S,0001 Sl Mary, Hickling, Norfolk {£7,5001 Sl Mary, Homersfield, Norfolk1£7.5001 Sl Mary. Kyre Wyard. WOr￿sterShireI£2,s0oI Sl Mary, Stoke by Nayland, Suffolk {£8,0001 St Mary, Shelton, Cambridgeshire {£5,0001 St Michael & All Angels, Middleton Tyas, North Yorkshire1£7,5001 Sl Michael, Belchworth, Surrey1£3,0001 Sl Michael, Stanley Pontlarge, Gloucestershire (£5,000)

50 THE WOLFSON FOUNDATION NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023 16. Grants awarded during the period Icontinuedl St Nicolas, Old Shoreham, Wesl Sussex {£5,0001 St Paul, Alnwick, Northumberland {£7,5001 St Peler and Hallows, Hunlspill, Somerset1£10,000) Sl Peter and Sl Paul, Sheinton, Shropshire1£5.0001 Sl Philip and Sl James, Imracombe. Devon {£5,0001 St Sampson's, South Hill, Cornwall1£5,0001 St Stephen. Etton, Cambridgeshire1£S,0001 Sl Thomas and Sl Luke, Dudley, West Midlands1£10,0001 Dcmsfvvolfson Museums and Galleries Improvement Fund133 awards} The Museums and Galleries Improvement Fund 2022-24 {Round 141 is administered and jointly funded by the Department for Digital, Culture, Media & Sport Ilhe Department for Culture, Media & Sport from February 20231. The programme funds capital projects that improve the display, care and accessibility of museum collections. The Foundation's contribution of £2.000,000 (matched by DCMS) was allocated in a previous financial year. The following awards were made.. Barnsley Metropolitan Borough Council1£18.7501 -'Barnsley's Chamber of Treasures, al Experien￿ Bamsley Museum Birnin9ham Museums Trusl1£75,0001 -Redisplay of Ancient Civilizations GaI￿rieS at Birmingham Museum & Art Gallery The Bowes Museum, Barnard Castle, County Durham1£127.450) -'Inspiring Communities - Collections, Curiosity and Conversations, Buckinghamshire County Museum Trust, Aylesbury1£30,000} -creating collections capacity at Discover Bucks Museum Chatham Hisloric Dockyard Trust, Kent {£50,0001 'No.1 Smilhery - Forging the future of display, conservation. and interpretation of maritime colleclions, Derby Museums Trust (£35.8501 -'The Reimagined Home, at Pickford's House The Food Museum, Stowmarket, Suffolk1£44,800) 'Bridge to the Future, Museum of the Home, London E21£100,0001 -'Home5 Through Time Redux, Grant Museum of Zoology, University College Londors WC1 E1£50,000) 'Species under threat, Historic Royal Palaces. East Molesey, Surrey (£100,700) -Re-opening of Wolsey Rooms and re-interpfelation of Tudor Art colleclK)n at Hampton Court Pala The Jewish Museum, London NW1 (£40.0001 'Under~represenled heiilage, build of new collections slorerooms

51 THE WOLFSON FOUNDATION NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023 16. Grants awarded during the perlod Icontlnuedl Kimmeridge Trust, Clyffe, Dorset1£109.7501 'Protecling our fossil collection, al the Etches Colleclion - Museum of Jurassic Marine Life Lakeland Arts Trust, Kendal, Cumbria1£20,250) -'Testing Ground. at Abbot Hall Art Gallery London Transport Museum, London WC2E1£40,0001 -LTM Lab Manchester Art Gallery1£75.0001 -Transforming storage and access for Manchesters Civic Collection The Mary Rose Trust, Portsmouth1£37,4501 -safeguarding and sloring the Mary Rose Colleclion and Archive Museum of English Rural Life, University of Reading {£27,150) -Improving exhibition spaces at Sl Andrew's Hall Nalional Maritime Museum Cornwall, Truro (£118,500) -Revitalising the museum's boat hall National Motor Museum. Beaulieu, Hampshire1£100,000) 'Motoring into the Future- Phase 1, National Science and Media Museum, Bradford {£S0,0001 -'Sound & Vision, Natural History Museum, London SW7 (£50,000) -mammals Galleries Project {Mammals Hall) Oriental Museum, Durham University1£52.2501 -'New Voices, redisplaying the Malcolm MacDonald Gallery of Chinese Art and Archaeology Oxford University Museum of Natural History1£62.5001 -'Lrfe, as we know it, _ redisplaying Oxford Universily Museum of Natural History People's History Museum, Manchester {£107,1501 'Nolhing About Us Without Us - Creating Access for Everyone, Royal College of Music, London SW71£16,5001 -Bringing ear￿ instruments lo life through 3D modelling at the Royal College of Music Museum Sheffield Museums Trust1£22,500) -'More lo See, at Kelham Island Museum The Tank Museum, Bovinglon, Dorsel (£50,000) -Transition to passive storage Tale, London SW1P1£27,150) -Accessibility ramp at Barbara Hepworth Museum and Sculpture Garden, Sl Ives, Cornwall Temple Newsam House, Leeds1£70.050) -.wh￿ the Buller saw.. revealing treasures, improving access, and crealing capacil Torquay Museum. Devon1£125,000) -'Journey through the Ice Age- re-engaging communities w(th the Qualernary collection,

52 THE WOLFSON FOUNDATION NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023 16. Grants awarded during the period Icontinugdl Wallace Collection, London W1 U1£25,000} -New display space and relocation of cloakroom The Cheltenham Trust. Gloucestershire {£101.250) -'Making Connections, al the Wilson Art Gallery & Museum The Whitworth Art Gallery, Universty of Manchester {£40,0001 -'The Whitworth Welcome,