2024-12-31-accounts

Saigon Children's Charity CIO Annual Report for the year ended 31 December 2024

Saigon Children's Charity CIO Annual Report For the year ended 31 December 2024 Contents Page number Organisation infomation Chairman's report Declaration - Serious Incidents Executive Director's report Independent audrtors, report Financial statements Statement of financial activities Balance sheel 7-11 12-14 15-16 17 Statement of cash flows Notes to the financial statements 18-19 20-27 saigonchildren Saigon Children's CharltyCIO 59 Tran Thw). Thst.3. HCMC, VN R￿1Ster￿1 chaTitynLrnbers-. [phone] UK 1157774 | VN 63JCNV-VPOD wWW.5aw￿bfvjrelI cun

Saigon Children's Charity CIO Organisation Information Board of Trustees David Huw Appleton (Chairman) Diana Simone Wells Jonathon Ralph Alexander Waugh Richard James Burrage Seck Yee Chung Alexander Christopher Falter James Samuel Charles Estaugh Jason Michael Turnbull Neil Alexander MacGregor (from 19 June 2025) Executive Director Damien Roberts Senlor Management Team Head of Programmes Nguyen Thi Duy Huong Head of Fundraising & Communications Vuong Ngoc Vy Van Head of Finance & Admin LeLeAnNa CDSP Programme Manager Nguyen Sinh Quang Anh School Building & Learning Environment Programme Manager Nguyen Hoang Phuong Getting Ready for Work Programme Manager Phan Thanh Thuy Hang Special Needs Educational Programme Manager Phan Ngoc Thanh Tra (from 01 February 2024) Unlted Klngdom Charlty Registratlon Number 1157774 saigonchildren Saigon Chlldren's Charlty CIO 59 Tran QU￿ Th￿. t*st.3. HCMC, VN R￿jiSter￿1 charity nLNnL￿rs". UK 115tT14 | VN 631CNV.VPDD sw)rKhiklren.COTn [phone] r￿D￿ngba￿r5 to eduuton

Saigon Children's Charity CIO Organisation Information Registered Office (United Kingdom) 24 Gloucester Road Teddington. Middlesex TW11 ONU Main Operating Office (Vietnam) 59 Tran Quoc Thao Xuan Hoa Ward, Ho Chi Minh City, Vietnam Bankers HSBC United Kingdom, HSBC Vietnam Vietnam International Bank (VIB) Standard Chartered Hong Kong Vietnam Commercial Bank (VCB) Vietnam Public Joint Stock Commercial Bank (Pvcombank) Kasikornbank Public Company Limited - Ho Chi Minh Branch (Kbank) Legal Advlsor (pro bono) Freshfields Bruckhaus Deringer 1101-1103, Saigon Tower 29 Le Duan Boulevard District 1.Ho Chi Minh City, Vietnam Auditor (pro bono) KPMG Limited Vietnam saigonchildren ￿gon Chlldran's Charity CIO 59 Tran Quw Th), Dist.3, HCMC. VN RwislÈr&l chanty numi￿". UK 1157T14 | VN 631CNV_VPDO sawNLhiklren cotn +84 2.8 3930 3502 movin9 bw¥rs to educatw

Chairman's Report From the Chalrman of Saigon Children's Charity CIO, Mr David Huw Appleton l am pleased to present the Saigon Children's Charity CIO ('saigonchildren') Annual Report for 2024 and to thank all who have supported our work to remove barriers to education for Vietnam's most disadvantaged children. sin￿ 1992, saigonchildren has helped young people aC￿sS quality education, practical skills, and specialist support, empowering them to overcome challenges and build better futures. In 2024, our four core programmes-scholarships, school building, vocational training, and special needs education reached 7905 children and young adults across Vietnam. We are proud to continue deep, effective work that addresses both immediate educational needs and long-term social development goals. as recognised re￿ntlY by the Chairman of Ho Chi Minh City's People's Committee, who awarded saigonchildren a Certificate of Merit for our 2024 contributions to education and economic development. Our total income in 2024 was US$1,8 million, allowing us to invest in impactful, timely support. Thanks to your generosity. we helped thousands of students to stay in school, trained hundreds of teachers and therapists. and improved learning environments for thousands of children. This year also marked the successful conclusion of our 30-year journey with Thang Long School in Ho Chi Minh City, where generations of disadvantaged students gained not just education, life skills and counselling, but also hope and confidence. The ￿lebratiOn of achievements of Thang Long School alumni - many now in fulfilling careers in international companies and contributing to their communities- reminds us what sustained, compassionate investment can achieve. Other saigonchildren projects in 2024 include an initiative in the Mekong Delta helping families maintain resilient livelihoods to give their children the stability needed to stay in education, training for 500 teachers in adOleS￿nt mental health, and a project praised by provincial authorities educating 1,710 students on gender, relationships, and wellbeing. Following the tragic destruction caused by Typhoon Yagi in September 2024, we restored four kindergartens in Tuyen Quang province, ensuring safe education for over 250 children. Across these efforts, our team of social workers, educators and therapists remain focused on those often left behind-children with disabilities, ethnic minorities. girls, and those in rural povety-offering them access to education and the opportunity to thrive. To all of our supporters. l express sincere appreciation. Your contributions have made measurable, lasting change in the lives of children across Vietnam. On behalf of the Board of Trustees, I confirm our ongoing commitment to diligent governance, transparency, and the responsible use of every contribution entrusted to us. saigonchildren Saigon Childr•n'8 Charity CIO Registered charity numbers.. [phone] mwng barr4wsloethKa¢b 59 Tran QU[￿ Th￿, Dist.3. HCMC. VN UK 115tT14 | VN ￿cNv-VP￿D Www.Sawr￿hth1teTr com

This Trustees, Annual Report. including this message. the Executive Director's Report and audited Financial Statements and Notes (audtted by KPMG), has been approved by the Board of Trustees on 28 October 2025, and l am aulhorised to sign the report on their behalf. Thank you. VAN PHONG Al DI TAI VIÈT NAM Da Appleton n of the Board of Trustees gon Children's Charity CIO Charity Number 157774 28 October 2025 saigonchildren Salgon Chlldren'8 Clwity CIO RegiSter￿j clw'ty nUmt￿s. UK 115TT14 | VN 631CNV-VPEJD wviw saw￿h1k￿reTh com [phone] r¢mwThJ barr*rstoethJcatw)n 59 Tran QU￿ ThaD, ￿51.3. HCMC. VN

Declaration - Serious Incidents Charity Law requires us as Saigon Children's Charity CIO Board of Trustees to submit and sign, as part of this annual return, this declaration to confirm that there were no serious incidents or other matters relating to Saigon Children's Charty CIO during the previous financial year, 2023, that we should have brought to the attention of the Charity Commission of England and Wales, but have not. VAN PHONG Al TAI vI¢T NAM w Appleton an of the Board of Trustees Igon Children's Charity CIO Charity Number 157774 28 October 2025 saigonchildren Saigon Children's Charlty CIO 59 Tran QU￿ Thw. Thst.3. HCMC, VN Registeied charity numL*rs" UK 115tT14 1 VN 6NCNV_VPE)D bWM.saw))r￿￿"kAien com [phone] ramwngbarrigfsto ed￿at#

Executive Director's Report EXECUTIVE DIRECTOR'S NOTE The mission of Saigon Children's Charity CIO ('saigonchildren") remains to advance economic development through inclusive education. Since 1992, we have been committed to removing barriers to education for Vietnam's most disadvantaged children and youth, enabling them to learn, grow, and reshape their futures. As Vietnam continues to develop, it is vital that saigonchildren equips the next generation with the skills and capabilities needed to benefit from and accelerate this development. In doing so we ensure education supports prosperity, inclusion and security at every level. Although 2024 was a challenging year globally, including for many of our key donors, saigonchildren still had its second most suc￿Ssful year ever for both income and for the assistance we provided to vulnerable children and young people. Through our 4 core programmes-scholarships. vocational training, school building. and special needs education-we continually adapt our support to meet evolving needs. In 2024, this meant enhancing Early Intervention services. strengthening employability-focused training, investing in digital and soft skills, supporting adolescent mental health, and expanding leadership development opportunities. Our work leads to enduring outcomes. Children supported by saigonchildren are more likely to enter stable employment, with post-university starting salaries significantly higher than their parents, income, lifting entire families out of poverty and fostering long-term social mobility. We are equally proud of the ripple effects: many alumni return to give back, mentoring younger peers or contributing to their communities. The success stories highlighted on our website-from college graduates mentoring others to children with autism enjoying their first days of school- reflect the breadth and depth of the impact you help make possible. Across our project areas we're seeing families struggle, particularly in vulnerable regions such as the Mekong Delta, where many face drought, salinisation and cost pressures. In response, and based on substantial community consultation, saigonchildren has expanded its education- focused model lo integrate community resilience-building. This ensures households are better positioned to support children's leaming without disruption from unforeseen pressures. This year, we launched a three-year climate-adaptive livelihoods project to benefit 150 households, 600 student scholarship recipients. and 3,150 climate-literate young participants through localised environmenlal education. Our flagship Special Needs Education Programme continues to grow. In 2024, we conducted 2,656 direct therapy and education sessions. supporting children with autism, Attention Deficit Hyperactivity Disorder (ADHD), mobility challenges. and other neurodevelopmental differences. saigonchildren Salgon Children's Charity CIO R&Jistered charily numr￿rs.. UK 115TT741 VN 6WCNV-VPE)D WWW saw￿.hI￿￿re￿ coffl [phone]S)2 59 Tran al￿ Th￿, Di51.3, HCMC. VN

With intervention starting early, we are seeing transformative outcomes. Each child's potential is supported by a network of trained teachers, practitioners and parents, a model now being replicated in even more provinces. We are also enhancing national capacity by delivering resource development, training specialists, and empowering families. Saigonchildren's approach ensures that inclusion increases even further across Vietnam, giving more children the opportunity for a fulfilling life. Our ongoing commitment to children orphaned by the COVID-19 pandemic remains firm. Of 268 children originally supported, the majority have transitioned into stable arrangements. 43 children continue to receive our backing to ensure their long-term security and academic success. Saigonchildren always works to disburse our income as quickly as possible so that our donors can be confident that their contributions are soon providing tangible help for children. Our cash resenies remain stable and are enough to meet our scholarship liabilities for six months in case of serious unforeseen operational issues, in line with our strategy. PUBLIC BENEFIT The Trustees recognise and adhere to the guidan￿ of the Charty Commission on public benefit. Saigonchildren's model is rooted in thelocal empowerment of children, families, and communities, ensuring that provided support fosters tangible improvements in well-being while upholding dignity, capacity, and agency. OBJECTIVES OF SAIGONCHILDREN Saigonchildren helps those children and young people in the most difficult circumstances to receive an education. Over 32 years of working in Vietnam. education has proven to be the most effective and sustainable way we can help children and their families to escape from the cycle of povety and contribute to the conlinued growth and development of Vietnam. OUR FOUR PROGRAMMES: SCHOOL BUILDING AND LEARNING ENVIRONMENT PROGRAMME Saigonchildren builds safe, welcoming schools in rural areas, often where existing buildings are unsafe or unsuitable, especially in ethnic minorty communities. Funded by private donors and with significant government support. these schools are publicly owned and run. Beyond classrooms, we provide clean toilets, libraries. playgrounds, and learning tools to create a richer, more supportive environment for students. Through these schools and our deep community ties, we also promote crucial topics like sustainability, health, indusion, and environmental protection. saigonchildren Salgon Chlldr•n's Charlty CIO 59 Trona￿ Th￿, Di51.3, HCMC, VN Regislerwj chan.ty nwntsrs". UK 11577741 VN 6NCNV_VPEID viwW.saw￿h&J"reTr c(¥n [phone] mowryj bar￿$t0*￿j¢8ts

sin￿ the first saigonchildren school was built in 1993, 621 classrooms have opened doors to brighter futures for around 25.200 disadvantaged children. from Tra Vinh on Vietnam's southern coast to Tuyen Quang close to the northern border nearly 2.OOOkm away. In 2024 we built and renovated 16 classrooms in the provinces of Hau Giang, An Giang and Tra Vinh, Ho Chi Minh, Dong Nai providing access to enhan￿d learning facilities to 641 children, helping them to be safe and happy at school. We equipped 4 computer rooms which enhance digital literacy for 1,430 children in a primary, secondary and charity school. We buitt 2 hygiene facilities to provide clean condition to protect the health of 791 children during their time at school. We equipped one library and one reading corner which provide child-friendly space to promote reading habits for 1,379 children of two primary schools. Last but not least, we provided emergency support to 250 children of 4 kindergartens in Tuyen Quang which helped them overcome the devastation caused by Typhoon Yagi. CHILD DEVELOPMEKf SCHOLARSHIP PROGRAMME Our Child Development Scholarship Programme breaks down barriers to education by providing comprehensive support including schoo5 fees, social care, books, uniforms, rice, and stationery to disadvantaged children from primary school through university. We take a holistic, community-based approach, working closely with families, teachers, and local leaders to help children stay in school. Our dedicated social care team carefully assesses each child's situation through home visits, ensuring support goes to those who need it most. Scholarships are awarded not for top grades, but to students who are determined to learn despite serious financial hardship. In school year 2023-2024, we were able to: Provide 1.844 scholarships to disadvantaged children and young adults in seven provinces of Vietnam. Visit 836 children either at their homes to learn about their lives, their leaming situation, and to show the care of saigonchildren. Provide urgent support to 50 children. Provide 76 bicycles to children who live more than 3km from school to shorten their daily journey. Organise 29 life skills training sessions on protection against child abuse, safe internet, career orientation, time management, financial management, communication, emotional management and health care" for 1,098 students for both school and post-high school levels. Organise several events such as Tet festival, study tour, camp, mid-autumn festival for 770 school and post high school students. saigonchildren Salgon Children's Charity CIO 59 Tran Th￿), Disl.3. HCMC. VN Registered charity nwnlws: UK 115TT141 VN 631CW.VPE)D TPMW Sa￿￿)￿h￿ren com [phone]

Organise eye checks for 644 students and teachers. Provide 318 pairs of glasses for students and teachers. Organise training on mental health for 500 teachers of primary and secondary schools and for 1,710 students of primary and secondary schools. Implement a project on Enhancing community-bas8d climate change adaptive livelihood Gapacity which provided loans lo 50 households, scholarships to 200 children, training on environment protection to 1,039 students, training on financial management, on reproductive health to more than 100 local farmers. GErriNG READY FOR WORK PROGRAMIIIE Our Getting Ready for Work Programme gives young adults in difficult circumstances the opportunity to learn vocational skills and develop themselves, so they integrate into work and social life. These young adults complete vocational courses and learn English and life skills to enhance their employability- 1. Vocational Training and Job Placement: The Vocational Training and Job Placement project supports disadvantaged young adults between the ages of 17 and 25. These students learn the knowledge and skills required to secure job aligned with their interests, capabilities and ambition whether that is to be a software developer, an engineer, a beautician or a bartender. In 2024, 111 young adults took part in this activty; 43 of them completed their training courses successfully. 38 of those who completed the training course successfully were in jobs with average income of 262 USDlmonth', the others are following their training courses. 2. Psychosocial Counselling and Life skills Life skills training on topics such as Communication Skills, Attitudes and Professional Appearances, Budget Management. and Personal Safety are provided to young adults as a foundation for their personal and professional life. In 2024, saigonchildren offered 26 lrfe skills training sessions on 17 topics for 811 participants. SPECIALS NEEDS EDUCATION PROGRAMME Saigonchildren supports children with disabilities and helps them to have a better life through proper education with our Special Needs Education Programme. We specialise in supporting teaching and learning for children with neurodevelopmental differences such as autism, ADHD and dyslexia. through communty-based identification and early intervention. as well as building national capacity through training and the provision of educational resources in Vietnamese. saigonchtldren Saigon Chlldr•n's Chwity CIO 59 Tran Quw Thao. Thst.3, HCMC. VN Registered charity n￿nb8r5." UK 115TT141 VN 6YCNV-VPOD saiwrKhiklren LL¥n [phone]

We also work with a range of specialist organisations across Vietnam to help children with disabilities such as cerebral palsy, hearing or vision impairents, congenital conditions associated with the effects of dioxins (such as Agent Orange), and mobility issues. We provide education & training and social development aclivities for these children, improve learning facilities, and help these partners to build their fundraising and communicalions capabilities. In 2024, 9 special education projects benefitted 1,286 children, parents and teachers. RISKS AND RESERVES The biggest operational risk remains unexpected funding loss. However, strong fundraising, rigorous financial controls, and clear governan￿ structures allow continued confidence in the resilience and stability of our model. We maintain a prudent reserves policy to ensure continuity in key areas.. Support for scholarship recipients for up to six months in case of disruption. An adequate resource for emerging risks or restructuring needs. Sufficient personnel to appropriately conclude projects and reporting in accordan￿ with regulatory. ethical and financia5 best practice. STRUCTURE, GOVERNANCE AND MANAGEMENT Saigonchildren is established as a Charitable Incorporated Organisation (CIO) and governed by a Board of Trustees. As of the end of 2024, the Board comprised nine Trustees, the majority of whom are resident in Vietnam and deeply engaged in the charity's oversight and strategy, meeting quarterly and receiving monthly updates on finance and perfomance. The Trustees delegate day-to-day operations lo the Executive Director, who works within an approved annual strategy and budget. Oversight remains strong. particularly concerning policy changes, financial issues, major risks, fundraising developments. and people-related matters. Trustee involvement strengthens strategic planning while ensuring that operations retain the to respond to the needs of our beneficiary communities and other stakeholders. VAN PHONG Al DieN TAI vI¢T 'n Roberts cutive Director Saigon Children's Charity CIO 28 October 2025 saigonchildren Salgon Children's Charlty CIO 59 Tr￿ QU￿ Th&J, Disl.3. HCMC, VN R￿IStere[j c1￿￿ty nwnters" UK 115TTT4 | VN 6WCNV.VPE)D vrww.saKyY￿hlk￿reTh c(KrTr [phone] rèmoviTvJ barTierSio¢(kn￿l10n

KPMG Limited Branch 10th Floor, Sun Wah Tower 115 Nguyen Hue Street. Ben Nghe Ward District 1, Ho Chi Minh City, Vietnam [phone] | kpmg.com.vn INDEPENDENT AUDITORS, REPORT To the Trustees Saigon Children's Charity CIO Opinion We have audited the financial statements of Saigon Children's Charity CIO ('Ihe Organisation'l, which comprise the balance sheet as at 31 December 2024, the statement of financial activities and the statement of cash flows for the year then ended, and notes to the financial statements, including significant accounting policies and other explanatory information as set out on pages 15 to 27. In our opinion, the accompanying financial statements present fairly, in all material respects, the financial position of the Organisation as at 31 December 2024, and its financial activities and its cash flows for the year then ended in accordance with the Statement of Recommended Practice applicable to charities, Charities SORP (FRS102), and the Charities Act 2011. Charities SORP (FRS102) is applicable to the accounts of relevant charities for reporting periods beginning on or after 1 January 2019. Basis for Opinion We conducted our audit in accordance with International Standards on Auditing (ISAS). Our responsibilities under those standards are further described in the Auditor's Responsibilities for the Audit of the Financial Statements section of our report. We are independent of the Organisation in accordance with the ethical requirements that are relevant to our audit of the financial statements in Vietnam, and we have fulfilled our ethical responsibilities in accordance with these requirements. We believe that the audit evidence that we have obtained is sufficient and appropriate to provide a basis of our audit opinion. Other information The Board of Trustees are responsible for the other information. The other information comprises the Chairman's Report and Executive Director's Report included on pages 4 to 11, but does not include the financial statements and our auditors, report thereon. Our opinion on the financial statements does not cover the other information and we do not express any form of assurance conclusion thereon. 12 KPMG Eryh5h caMkwny￿ntta ￿M￿L*r￿ma.

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other infomiation is materially inconsistent with the financial statements or our knowledge obtained in the audit, or otherwise appears to be materially misstated. If, based on the work we have perfomed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard. Responsibilities of Management and Those charged with Governance for the Financial Statements The Board of Trustees is responsible for the preparation and fair presentation of the financial statements in accordance with the Statement of Recommended Practice applicable to charitles. Charities SORP {FRS102), and the Charities Act 2011, and for such internal control as the management determines is necessary to enable the preparation of financial statements that are free of material misstatement, whether due to fraud or error. In preparing the financial statements, management is responsible for assessing the Organisation's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless management either intends to cease operations, or has no realistic alternative but to do so. Those charged with governance are responsible for overseeing the Organisation's financial reporting process. Auditors, Responsibilities for the Audit of the Financial Statements Our objectives are to obtain reasonable assurance about whether the financial statements 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, but is not a guarantee that an audit conducted in accordance with ISAS will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of the financial statements. As part of an audit in accordance with ISAS, we exercise professional judgement and maintain professional scepticism throughout the audit. We also: Identity and assess the risks of material rnisstatement of the financial statements, whether due to fraud or error, design and perform audit procedures responsive to those risks, and obtain audit evidence that is sufficient and appropriate to provide a basis for our opinion. The risk of not detecting a material misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations or the override of internal control. 12,.. 11 NF Obtain an understanding of internal control relevant to the audit in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the Organisation's intemal control. 13

Evaluate the appropriateness of accounting policies used and the reasonableness of accounting estimates and related disclosures made by management. Conclude on the appropriateness of management's use of the going concern basis of accounting and, based on the audit evidence obtained, whether a material uncertainty exists related to events or conditions that may cast significant doubt on the Organisation's ability to continue as a going concern. If we conclude that a material uncertainty exists, we are required to draw attention in our auditors, report to the related disclosures in the financial statements or, if such disclosures are inadequate, to modify our opinion. Our conclusions are based on the audit evidence obtained up to the date of our auditors, report. However, future events or conditions may cause the Organisation to cease to continue as a going concern. Evaluate the overall presentation, structure and content of the financial statements, including the disclosures, and whether the financial statements represent the underlying transactions and events in a manner that achieves fair presentation. We communicate wilh those charged with governance regarding, among other matters, the planned scope and timing of the audit and significant audit findings, including any significant deficiencies in internal control that we identify during our audit. Ory behalf of KPMG Limited Branch Vietnamx Audit Rel>ort ty0.: 25-01-00485-25-1 CONf. TY fN1114 I Piin 11(1 GV, Tran Thi Le Hang Practicing Auditor Registration Certificate No. 3782-2022-007-1 Deputy General Director Ho Chi Minh City, 28 October 2025 14

Saigon Children's Charity CIO Statement of financial activities for the year ended 31 December 2024 2024 2024 Unrestricted Restricted funds funds USD USD 2024 2023 Note Total USD Total USD Income Donations School building Child Development Scholarship Program Getting Ready for work Special needs education Program COVID-19 Appeal You are not alone General donations Bank interest Others 258,534 258,534 321,404 894,515 188,851 894,515 188,851 695,763 270,583 209.830 2,685 11,181 209,830 2,685 11,181 136,157 35,002 18,235 186,120 198,528 29,050 80,805 37,100 6,475 136,157 35.002 3,700 14,535 Events and trading activities 3 Exchange differences 82.142 (29,613) 82.142 239,682 (29,613) (18,135) c( Total Income 227,388 1,580,131 1,807,519 2,047,375 The accompanying notes are an integral part of these financial statements 15

Saigon Children's Charity CIO Statement of financial activities for the year ended 31 December 2024 {continued) 2024 2024 Unrestricted Restricted funds funds USD USD 2024 2023 Note Total USD Total USD Expendlture Chan'table activities.. School building Child Development Scholarship Program Getting Ready for work Special needs education Program COVID-19 Appeal You are not alone 332,140 332,140 352,495 832,419 222,239 832,419 222,239 579,388 283,245 185,234 2,781 11,301 185,234 2,781 11,301 176,333 176,389 37,533 Cost ol generating funds.. Fund raising 43,813 140,320 184,133 219,921 Governance 3,231 22,285 25,516 26,635 Total expendlture Net Incomel(expendlture) before transfers 47,044 1,748,719 1,795,763 1,851,939 180,344 (168,588) 11,756 195,436 Gross transfers between funds 1168,588) 168,588 Net Income after transfers 11,756 11,756 195,436 The statement was approved and authorised for issue by the Board of Trustees on 28 October 2025 . Prepared by: Reviewed by: ved by.. VAN PH Al Di¢ TAI VIÉ I LeLeAnNa Head of Finan￿ and Administration Damien Roberts Executive Director Appleton airman on behalf of the Board of Trustees The accompanying notes a￿ an integral part of these financial statements 16

Saigon Children's Charity CIO Balance sheet as at 31 December 2024 Note 3111212024 3111212023 USD USD Current assets Accounts receivable Cash Held-to-maturity investments 84.068 212,611 970,679 1,054,000 775,502 391,726 10 11 1,830,249 1,658,337 Current Ilabilities Accrued expenses Deferred income 12 13 (179.984) (155,067) (999,655) (864,416) (1,179,639) (1,019,483) Net assets 650,610 638,854 Funds Funds brought forward at the beginning of the year Net income for the year 638,854 11,756 443,418 195,436 Funds carrled forward at the end of the year 14 650,610 638,854 The statement was approved and authorised for issue by the Board of Trustees on 28 October 2025. Prepared by: Reviewed by: oved by: VAN PH Al I¢N TAI vI¢T NA David eLeAnNa Head of Finan￿ and Administration Damien Roberts Executive Director Appleton rman behalf of the Board of Trust88S The accompanying notes are an integral part of these financial statements 17

Saigon Children's Charity CIO Statement of cash flows for the year ended 31 December 2024 (direct method) Note 2024 USD 2023 USD CASH FLOWS FROM OPERATING ACTIVITIES Income School building Child Development Scholarship Program Getting Ready for work Specia5 needs education Program COVID-19 appeal You are not alone Other activities 325,976 990,379 203,180 309,067 6,078 4,413 260,228 316,443 705,012 265,248 243,881 176.732 6.725 487,543 2,099,321 2,201,584 Expendlture School building Child Development Scholarship Program Getting Ready for work Special needs education Program COVID-19 appeal You are not alone Other activities Operating expenses 338,624 849,632 214,103 200,656 2,781 11,301 175,564 2,131 266,605 597,074 301,354 191,366 180,086 39,410 316,948 60,870 1,794,792 1,953,713 Net cash flows from operating actlvltles 304,529 247,871 CASH FLOWS FROM INVESTING ACTIVITIES Placements of term deposits Receipts of tem deposits Receipts of interest (883,613) 475,861 28,030 (635.327) 616,147 30.518 Net cash flows from investing activitles (379,722) 11,338 The accompanying notes are an integral part of these financial statements 18

Saigon Children's Charity CIO Statement of cash flows for the year ended 31 December 2024 (direct method - continued) Note 2024 USD 2023 USD Net cash flows during the year (75.193) 259,209 Cash at beginning of the year 1,054,000 790,759 Effect of exchange rate fluctuations on cash (8,128} 4,032 Cash at end of the year 10 970,679 1,054,000 The statement was approved and authorised for issue by the Board of Trustees on 28 October 2025. Prepared by: Reviewed by: ved by: VAN PHON AI DIÉN TAI VIET David LeLeAnNa Head of Finance and Administration Damien Roberts Executive Director ppleton rman behalf of the Board of Trustees The accompanying notes are an integral part of these financial statements 19

Saigon Children's Charity CIO Notes to the financial statements for the year ended 31 December 2024 These notes form an integral part of and should be read in conjunction with the accompanying financial statements. Reporting organisation The Saigon Children's Charty CIO (Ihe Organisation.) was entered on the Register of Charities of the Charity Commission of England and Wales on 8 July 2014, with registered charity number 1157774. The Organization's operation in Vietnam was authorised by the Organisation's Establishment Decision of Vietnam No. 211CNV-VPDA issued by the Ministry of Foreign Affairs of Vietnam dated 31 December 2014 and is valid until 11 April 2018. Its amendment No.631CNV-VPDD was issued by the Ministry of Foreign Affairs of Vietnam dated 22 June 2023 and is valid until 22 June 2028. Summary of significant accounting policies The following significant accounting policies have been adopted by the Organisation in the preparation of these financial statements. (a) Basls of financial ststements preparation The accounting policies are in accordance with the Statement of Recommended Practice applicable to charities, Charities SORP (FRS102), and the Charities Act 2011. Charities SORP (FRS102) is applicable to the accounts of relevant charities for reporting periods beginning on or after 1 January 2015. The financial statements, ex￿p1 for the statement of cash flows. are prepared on the accrual basis using the historical cost concept. The statement of cash flows is prepared using the direct method. The Organisation's accounting currency is United States Dollars {'USD"), which is also the currency used for financial statement presentation purpose. {b) Forelgn currency transactions Monetary assets and liabilities denominated in currencies other than USD are translated into USD at rates of exchange ruling at the balance sheet date. Transactions in currencies other than USD during the year have been translated into USD at rates of exchange ruling at the transaction dates. All foreign exchange differences are recorded in the statement of financial activities. (c) Cash Cash comprises cash balan￿S and call deposits. 20

Saigon Children's Charity CIO Notes to the financial statements for the year ended 31 December 2024 (continued) (d) Held-to-maturity investments Held-to-maturity investments are those that the Organisation has the intention and ability to hold until maturity. Held-to-maturity investments included term deposits at banks, which are stated at cost. {e) Accounts receivable Accounts receivable are stated at cost less allowance for doubtful debts. (fj Trade payables Trade payables are stated at their cost. (g) Income Unrestricted funds are available for use at the discretion of the Organisation's Trustees in furtherance of the charitable objectives of the Organisation. Restricted funds are subject to specffic restrictions imposed by donors or by the purpose of the appeal. Income is recognised when earned by the Organisation and there are no significant uncertainties regarding the consideration due. Unrestricted fund income is earned when donors are committed to the donation if there are no significant uncertainties regarding the consideration due, or when the donation is re￿ived. Restricted fund income is earned (i) when donors are committed to the donation if there are no significant uncertainties regarding the consideration due, or when the donation is received; and (li) when activities for which the fund is donated are started or time prorated in case of Child Development Scholarship Program (formerly known as scholarships). 3. Events and trading activities 2024 2024 Unrestricted Restricted funds funds USD USD 2024 2023 Totsl USD Totsl USD Charity Cycle Adventure Cards, calendars and T-shirts Summer Ball events Others 52.412 6.132 52,412 6.132 78,068 20,709 117,053 23,852 23,598 23,598 82,142 82,142 239,682 21

Saigon Children's Charity CIO Notes to the financial statements for the year ended 31 December 2024 (continued) 4. Fund raising 2024 2024 Unrestricted Restricted funds funds USD USD 2024 2023 Total USD Total USD staff costs Support costs Exhibition Powerful Cards, calendars and T-shirts Overseas Charity Cycle Adventure Events for donors Summer Ball events Others 18,465 1,728 5,010 4,455 3,515 2,406 800 399 78 6,957 128,316 12,004 146,781 13,732 5,010 4,455 3,515 2,406 800 399 78 6,957 154,061 13,645 4,385 2,411 3,080 34,111 8.228 43.813 140,320 184.133 219,921 5. Governance 2024 2024 Unrestrlcted Restrlcted funds funds USD USD 2024 2023 Total USD Total USD Staff costs Rent and utilities Office expenses Travelling expenses Bank charges Others 1,452 764 311 24 266 414 10,017 5,269 2,144 168 1,834 2,853 11,469 6,033 2,455 192 2,100 3,267 10,816 6,023 3,648 412 2,680 3,056 3.231 22,285 25,516 26,635 Trustee remuneration and expenses The organisation's Trustees are nol remunerated and do not usually claim expenses for attending meetings or for fulfilling their duties as Trustees. Expenses may be paid up to On￿ per year for our UK Trustee to visit our projects in Wietnam and attend our annual strategy and budget meeting. 22

Saigon Children's Charity CIO Notes to the financial statements for the year ended 31 December 2024 (continued) 6. Allocation and apportionment of support costs Support costs are apportioned to the key activity areas at Charitable Activities, Cost of generating funds, and Governance each year in appropriate ratios, which are in accordan￿ with the Policy of Apportionment of Support Costs, reviewed and approved annually by the Trustees. The breakdown of support costs incurred in year. and how they were allocated between Charitable Activities, Cost of generating funds. and Governance are shown in the table below: Cost of Charitable generatlng activitles funds USD USD Basls of apportionment Cost type Governance Total USD USD 2024 Staff costs Rent and utilities Office expenses Travelling expenses Bank charges Others 202,910 12,731 5,179 404 4,432 6,895 45,875 5,898 2,400 187 2.053 3.194 11,469 260,254 6,033 24,662 2,455 10,034 192 783 2,100 8,585 3,267 13,356 ** ** 232,551 59,607 25.516 317,674 Cost of Charitsble generating activitles funds USD USD Basis of apportlonment Cost type Governance Total USD USD 2023 staff costs Rent and utilities Office expenses Travelling expenses Bank charges Others 191,511 14,245 8,629 974 6,339 7,227 43.265 5,195 3,148 355 2.312 2.635 10,816 245,592 6,023 25,463 3,648 15,425 412 1,741 2,680 11,331 3.056 12,918 ** ** *• 228,925 56,910 26,635 312,470 (') Staff time charges. (") Average equivalent key number of people employed within each activity. 23

Saigon Children's Charity CIO Notes to the financial statements for the year ended 31 December 2024 (continued) 7. Staff numbers The average number of persons employed calculated on full-lime equivalent basis analysed by activity was: Average number 2024 2023 Director Charitable activities Fundraising Finance, Admin, HR, IT 15 16 31 31 8. Staff costs 2024 USD 2023 USD Salaries, wages and benefrts Insurance Others 406,208 113,641 12,133 400,377 99,286 13,806 531,982 513,469 The number of employees whose emoluments (salaries and benefrts) fell with the following bands: Number of employees 2024 2023 USD100,000- 110,000 9. Accounts receivable 3111212024 3111212023 USD USD Donation re￿1VableS Interest re￿1vable Others 55,971 22.963 5,134 193,612 15,990 3,009 84,068 212,611 24

Saigon Children's Charity CIO Notes to the financial statements for the year ended 31 December 2024 (continued) 10. Cash 3111212024 3111212023 USD USD Cash on hand Cash in banks 6,481 7,411 964.198 1,046,589 970,679 1.054,000 11. Held-to-maturity investments Held-to-maturity investments represent term deposits in banks with original maturity of more than three months and not greater than twelve months from their placement dates. The term deposits are denominated in VND and earned interest ranging from 3.5 % to 5.1 % (2023.. 5.0% to 8.1 %) per annum during the year. 12. Accrued expenses 3111212024 3111212023 USD USD School building Bonus and 13" salary Others 114,057 64,467 1,460 115,185 39,882 179,984 155,067 25

Saigon Children's Charity CIO Notes to the financial statements for the year ended 31 December 2024 (continued) 13. Deferred income 3111212024 3111212023 USD USD Current liabilities Unrestricted donatlons 28.721 23,788 Restrlcted donations: School building (a) Child Development Scholarship Program (b) Getting Ready for work (b) Special needs education Program (b) COVID-19 Appeal You are not alone 132,883 489,819 81,408 266,824 125,282 448,392 74,160 175,007 2,778 15,009 999,655 864,416 (a) Deferred income for School Building related to money re￿iVed for particular School Building projects which had not been started by the end of 2024 and are expected to be built during 2025. (b) Deferred income related to donations for Child Developmenl Scholarship Program. Getting Ready for work, Special Needs education Program re￿iVed but for 2025 onwards. Movements in the deferred income during the year were as follows.. USD Opening balance Increase in deferred income during the year Deferred income realised during the year 864,416 1,448.570 (1,313,331) Closing balan 999,655 26

Saigon Children's Charity CIO Notes to the financial statements for the year ended 31 December 2024 (continued) 14. Funds Unrestrlcted Restricted funds funds USD USD Total USD Income Expenditure 227,388 1.580,131 1,807,519 (47,044) (1,748,719) (1,795,763) Net incomel(expenditure) before Iransfers Gross transfers between funds (") 180,344 (168,588) 168,588 11,756 (168,588) Net expenditure after transfers Total funds brought fopNard at 1 January 2024 11.756 11,756 638.854 638,854 Total funds carried forward at 31 December 2024 650,610 650,610 (') Gross transfers between funds, amount was approved annually at year-end by the Organisation's Trustees to balance the deficit of restricted funds as at 31 December. 15. Commitments Leases The future minimum lease payments under non-cancellable operating leases were: 3111212024 3111212023 USD USD IH Within one year Within two to five years 24,188 117,607 15,341 877 141,795 16,218 27