OpenCharities

This text was generated using OCR and may contain errors. Check the original PDF to see the document submitted to the regulator.

2022-09-30-accounts

Environmental Defense Fund UK Annual Report and Financial Statements Year ended 30 September 2022 Charity number: 1164661 Company number: 09217493

1

Table of Contents

Reference and administrative information Reference and administrative information Reference and administrative information Reference and administrative information Reference and administrative information Reference and administrative information Reference and administrative information 3
Report of the Trustees 4
S 14
Statement as to disclosure to our auditors 15
16-19
Financial statements and notes to the financial statements 20

2

Reference and Administrative Information

----- Start of picture text -----
Name change On 7 [th] December 2022, the Environmental Defense Fund
has renamed to Environmental Defense Fund UK (EDFUK)
Other Names
Environmental Defense Fund Europe (former name),
Environmental Defense Fund Ltd (former name),
Environmental Defence Fund Europe/UK (former name),
EDF Europe/UK, EDF Europe, EDF UK, Environmental
Defence Fund
Board of Trustees
Carl Ferenbach (Chairman)
Lord Brian Griffiths
Ravi Gurumurthy
Connie Hedegaard
Mark Heising (Appointed 27 [th] January 2022)
Roland Kupers
Andrea Monge
Hannah Ryder (Appointed 27 [th] January 2022)
Jens Dag Ulltveit Moe
Lance West
Registered Office 3 [rd] Floor
41 Eastcheap
London
EC3M 1DT
Company Registration Number 09217493
Charity Registration Number 1164661
Auditors BDO LLP
55 Baker Street
London, England.
W1U 7EU
Bankers Citibank
33 Canada Square
London
E14 5LB
----- End of picture text -----

3

Environmental Defense Fund UK Report of the Trustees for the year ended 30 September 2022

The Trustees statements of the charitable company for the year ended 30 September 2022 which are also 2006 purposes.

The financial statements comply with the Charities Act 2011, the Companies Act 2006, the Memorandum and Articles of Association, and Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (effective 1 January 2019).

No

not the United States, not Europe, not the global business community, certainly not Environmental Defense Fund (EDF) alone. Nevertheless, by working in partnership with many others, we can make a difference.

As we expand our platform in Europe, we will continue to investigate and assess what needs to be done to meet the most pressing challenges that cross national boundaries. We will remain alert and flexible, responding to new scientific discoveries, technological innovations and social trends and pursuing important opportunities as they arise.

Objectives and activities

The objectives of the Charity are for the public benefit to promote:

The Charity Trustees consider that they have complied with their duty in section 17 of the Charities Act 2011 to have due regard to the Public Benefit guidance published by the Charity Commission.

The European Union, in a flurry of climate communications and legislation over the last two years has committed in law to achieving climate neutrality by 2050 and to reducing greenhouse gas emissions by at least 55% in 2030 compared to 1990 levels. This also includes a newly agreed overhaul of the European carbon market. This plan now needs to be implemented, but there are still gaps between the goal and the plan of action.

Europe has prided itself on leading action on climate change this century. But its leadership has stumbled a little of late. In the face of conflicting priorities of the pandemic and geopolitics, recent decisions and pronouncements have looked less certain and provided less direction to business and industry.

To help deliver solutions on the scale of these problems, EDFUK will reach out to new audiences, unlock additional resources, and deploy both tried and tested tools and innovative approaches, adding further diversity to the European environmental movement.

Hallmarks of EDFUK

Charting a Course for EDFUK

EDF has a track record of over 50 years, in the US of using economics, science, and partnerships its overall effectiveness, EDF the UK to the broader European continent, with a growing and diverse staff to implement that shift. We continue collaborate with politicians, policy makers, businesses, and academia to hasten the transition to a carbon free economy, develop and implement ambitious environmental policies across Europe, and share learnings from Europe to other parts of the globe.

By developing a significant presence in Brussels, , and raising our profile as a global organisation, we will ensure that we can disseminate the best science and economics to achieve cohesive solutions that are effective locally, regionally, and globally.

5

Goals

Energy

Accelerated adoption of clean energy in all sectors has reduced carbon emissions and contributed to improvements in air quality, while allowing for strong growth in the economy.

Measuring methane emissions

Measured methane emissions from global oil and gas infrastructure to help identify emissions mitigation opportunities within Europe.

Reducing methane emissions

European countries and companies make strong commitments to reduce methane emissions, consistent with achieving a 45% global reduction by 2025.

Climate

Europe meets its commitments under the Paris Agreement, pledging to cut emissions by at least 55% by 2030 (from a 1990 baseline).

Hydrogen deployment

The development of policies across Europe on hydrogen deployment with full consideration of the potential for hydrogen leakage, which as potent greenhouse gases can exacerbate detrimental effects on the climate.

6

Achievements and performance

Bringing science to Europe s hydrogen debate

Accelerating a transition to clean energy in the EU is key to addressing the current energy crisis as well as the climate emergency. Green hydrogen is an important part of this transition. The European Commission has stated that clean, renewable hydrogen will be essential to replace natural gas, coal and oil, especially in hard-to-decarbonise industries and transport. The EU has stated its intention to produce 10 million tonnes of hydrogen from renewable sources and import another 10 million tonnes by 2030.

2022 Achievements

Shaping methane regulations

Methane emissions represent about 12% of overall GHG emissions in the EU. 53% of anthropogenic methane emissions come from agriculture, 26% from waste and 19% from energy. Although energy methane emissions only represent a small amount of the overall EU GHG emissions (less than 2%), it is the area where emissions can be reduced quickly at low or no costs. Moreover, the EU is the largest importer of gas in the world: if its legislation also applies to imported fossil fuels, this will have an impact far across its borders.

Over the past two years we have worked across the EU institutions and EU member states to shape an essential methane regulation. As we head towards a final text, we have worked in close collaboration with the European Commission, European Parliament, EU member states, UN Environmental Program as well as representatives from the oil and gas industry to uphold the legislation high level of ambition. Our seat at the table gives us a unique opportunity to put forward solutions that increase the level of ambition and address concerns raised by various stakeholders.

2022 Achievements

7

Parliament (the legislative body with 705 elected representatives) and the European Commission (the EU's executive branch), providing clear science-based and technical explanations to help inform their decision making.

Enhancing our approach to EU Transport

Transport represents almost a quarter of Europe's GHG emissions and is the main cause of air pollution in cities. The transport sector has not seen the same gradual decline in emissions as other sectors: emissions only started to decrease in 2007 and remain higher than in 1990. Within this sector, road transport is by far the biggest emitter accounting for 72% of all GHG emissions

By 2030, EDFUK's goal is to lock in policies and investment necessary for shipping, aviation, lorries, buses, and passenger cars to achieve their net zero targets by 2050 while achieving preliminary GHG reductions form these transport modes by at least 5% from global 2020 le

2022 Achievements

8

institutions and honed an effective communications approach that makes use of video and social media, to deliver our main messages to policy makers in a joint campaign with Transport & Environment, a well-established transport NGO in Europe.

Development and Operations

EDFUK continues to establish itself as an environmental non-profit that brings a unique sciencebased perspective to the major policy debates shaping the future of the European Union. As we deepen our engagement and impact on the continent, we are augmenting our organizational capacity with an influx of staff that reflects the diversity of the policies and politics we hope to shape.

As part of the transformation to an authentically global organisation, EDFUK has undergone a remarkable evolution over the last two years, with its board more European in composition and the team developing from a largely UK-focused team of British and American nationals to a truly pan-European team of experts drawn from across the European continent. The EDFUK team now has staff from 16 countries including Belgium, France, Germany, Greece, Hungary, India, Italy, Malta, Mexico, the Netherlands, Portugal, Spain, Sweden, the United Kingdom, the United States and Vietnam. The EDFUK team at the heart of the EU in Brussels has also grown exponentially which will be reflected by the opening of new expanded office space in 2023.

Financial review

Expenditure

EDFUK irect expenditure for the year ended 30 September 2022 totalled £5,789k ( 2021: £4,002k ). Of the total expenditure, £5,632k was considered unrestricted ( 2021: £3,298k ) and £158k was subject to donor restrictions ( 2021: £704k ). Stichting ED s direct expenditure was £3,011k ( 2021: £371k ) The expenditure covered charitable activities and operational costs.

Income

EDFUK receives funding and support from several generous private individuals and foundations. The remainder of our activity is funded through a grant from EDF. We maintain a restrictive government and corporate donations policy that ensures our objectivity, aligns with our commitment to non-partisanship, and allows EDFUK to make its work freely available to ensure its widest possible adoption.

EDFUK received total income of £5,851k ( 2021: £4,064k) for the year ended 30 September 2022. This included £5,694k of unrestricted funds ( 2021: £ 3,310 k ) and £158k of funds that were subject to a restriction on usage ( 2021: £754k).

9

EDFUK ended FY2022 with £62k surplus financial result compared to a £62k surplus a year earlier.

Total funds at the end of FY2022 are £721k ( 2021: £659k). All net assets held were considered unrestricted.

Conduit funding

During the year, EDFUK received funding on behalf of EDF totalling £27k. These funds were passed directly to EDF at the request of the donor and are not included in the results of EDFUK.

Reserves policy

Reserves are typically required to bridge the gap between spending and receiving income, and/or to cover. The Trustees believe the ideal level of Reserves is three months of Operating Expense which is £2,000k ( 2021: £727k ). The reserves level has been reviewed in light of the COVID-19 pandemic, global inflation, and other relevant factors, and the Trustees assess that the required level of reserves remains appropriate despite this external event. The total unrestricted funds as of 30 September 2022 amounted to £721k ( 2021: £659k). This includes fixed assets with a Net Book Value (NBV) of £78k ( 2021: £51k) that are not available for general purposes at the yearend, leaving free reserves at the year-end of £644k ( 2021: £608k). The Trustees believe that the current level of reserves is sufficiently close to target so as not to require specific action. This will however be reviewed annually as the organisation continues to grow.

As at the date of signing these financial statem charitable company will be able to maintain liquidity for a period of at least one year following the date of signing these financial statements and will therefore be able to continue to operate as a going concern. The Trustees therefore consider that no material uncertainty exists that could

Looking to the future

Many experts think that the immediate energy crisis will soften in the coming year and prices in Europe will decrease but the need for increased resilience has been visibly demonstrated in the last two years and the need to rapidly transition from fossil fuels has never been more apparent.

In additional to continued work on work areas for 2023, we have a number of new staff taking forward work on the following subjects:

Advancing climate smart agriculture. The EU has several policies that aim to address agricultural greenhouse gas emissions, including methane. However, there is currently no EUwide emission reduction target specifically for agriculture. New policy reforms are needed to ensure the EU reduces methane emissions enough to meet its share of the Global Methane Pledge. To raise government ambition and advance methane solutions, EDFUK commissioned a gap assessment focusing on the agriculture sector in the EU and in selected member states.

Findings from this report will also help identify potential strategies and inform action to reduce livestock methane emissions at both the EU and member state-levels.

10

Driving corporate disclosure and influencing investors.

investor insights and reports for several key sectors, EDFUK continues to engage actively in agriculture. In addition, we have applied to join Platform on Sustainable Finance (to influence future taxonomy). These groups bring together sectoral expertise from industry, finance and CSOs to support the development of mandatory EU sector specific ESG disclosures.

Reducing energy demand in Eastern Europe. There is a sense of war time urgency around the 40% of all gas consumed in the EU. Energy demand reduction through efficiency measures is critical for reducing consumer costs, lowering fuel imports, and lowering emissions. Each member state has very different challenges around energy use and energy demand reduction, and we are looking at the poorest states to see how we can make a difference for the most disadvantaged.

Scoping has begun in Romania for our planned work on energy demand reduction, where we are building an ecosystem of Romanian local partners, stakeholders, and community groups to help drive transformative solutions. Results of current scoping activities will help us design and roll demand at scale. We are also seeking to build on this work in other Eastern European countries, including Bulgaria and Poland.

Fundraising

EDFUK seek to raise funds from individuals, foundations and relevant Government grant making programmes. EDFUK and Stichting EDF Europe receives donations raised by EDF for our work in Europe and direct support received from European sources. Fundraising activities in Europe are closely coordinated between EDF and EDFUK and Stichting EDF Europe.

We carry out our fundraising in-house, do not currently employ professional fundraising service providers, and do not manage small-scale donations from individuals. EDFUK does not hold or manage a list of contact details for residents in Europe, donating to EDFUK. We have received no complaints. fundraising activity is currently not operating at a level where EDFUK considers it necessary to agree to any voluntary standards. Should it increase, EDFUK will ensure we adopt leading practices and sign up to and meet the appropriate standards.

EDFUK have received no complaints in relation to fundraising activities. Our terms of employment require staff to always behave reasonably; it is not currently necessary to design specific procedures to monitor such activities. When fundraising from individuals in Europe is facilitated in Europe via a dedicated communications channel such as the new website, we will establish the necessary procedures and guidelines to manage that activity.

11

Structure governance and management

Governing document

EDFUK is a company limited by guarantee under the Companies Act 2006 and incorporated in England and Wales. EDF, a New York not-for-profit organisation is the sole member of the Charity. The liability of the Member is limited to £1, being the amount that the Member undertakes to contribute to the assets of EDFUK in the event of its being wound up while it is the Member or within one year after it ceases to be the Member. In addition to the foregoing, EDF has entered into an agreement with EDFUK to pay operating expenses that EDFUK is unable to pay during the period from October 2022 through March 2024.

Decisions of EDFUK Trustees, who act independently from EDF. EDF may suggest areas of work for consideration by the EDFUK Trustees; however, work in these suggested areas will be undertaken only if the Trustees of the Charity decide that it will Program and geographic leaders work collaboratively to identify and maximise opportunities for transformative environmental impact.

Stichting Environmental Defense Fund Europe is a charitable foundation, registered in the Netherlands (Chamber of Commerce registration no. 72607440) and a company limited by guarantee, incorporated in the Netherlands (Fiscal identity company no. 859171814). EDFUK consolidates the results of the Stichting on the basis that it has the ability to govern financial and operating policies. The mission of the Stichting follows that of EDF UK and its ultimate parent organisation, EDF. Summary results for Stichting EDF Europe are included in the notes to the financial statements.

The workforce remuneration and key management personnel salaries are reviewed against market pay data. We are also in the process of devising a remuneration policy to ensure workforce pay is within the appropriate market benchmark, parameters, and criteria against the UK charity and not for profit sector.

Appointment of Trustees

The Memorandum and Articles of Association of EDFUK require that the Charity have at least four trustees, two of whom must be independent trustees. EDF as the sole member, appoints Trustees for such term as the sole member specifies.

Trustees of EDFUK have been, and prospective Trustees will continue to be, chosen with their knowledge of the European region in mind. In due course, as the Charity gains experience and develops its own organisational capacity, it is anticipated that the Charity's staff and trustees will increasingly propose areas of focus and activities to be carried out by EDFUK and will liaise with EDF to ensure such activities coordinate with EDF

EDF and EDFUK work together towards the achievement of common goals and currently share a common Board Chair, which helps to provide co-ordination and consistency.

12

EDFUK is seeking to expand Board membership to include representatives from a wider spectrum of European countries and a greater range of skills, experience, and influence.

Trustee induction and training

New EDFUK Trustees are voted on by a majority vote of the Board. Upon their approval, new Trustees are provided a Trustee handbook and organisational orientation. The orientation includes meetings with the Board chair, EDFUK Executive Director, and other members of the organis

and programme teams. The goal of the orientation is to give new trustees the opportunity to ask questions and gain a deeper understanding of the organisation s mission, vision, and operations.

Organisation

An Executive Director is appointed by the Trustees to manage the day-to-day operations of both EDFUK and Stichting Environmental Defense Fund Europe by implementing the policy and strategy adopted by and within a budget approved by the Trustees. The Trustees provide the manager with a description of his or her role and the extent of his or her authority; and any manager must report regularly to the Trustees on the activities undertaken in managing EDFUK and provide them regularly with management accounts, which are sufficient to explain the financial position of the Charity.

Risk management

The Trustees of EDFUK receive regularly updated risk assessments which cover the principal risks and uncertainties that the charity face, including financial, operational, and reputational, presented in the form of a risk register that also summarises implementation of policies, processes, or procedures to minimise or manage the potential impact on the charity should those risks materialise.

The Trustees review the risk register at each Board meeting and consider any further steps which may be necessary to manage new as well as previously identified risks. The Trustees consider the most serious risks to which the charity is exposed at present to be:

13

Statement of Trus

The Trustees are responsible for preparing the Annual Report and the financial statements in accordance with applicable law and regulations.

Company law requires the Trustees to prepare financial statements for each financial year in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the Trustees must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the group and charity and of the incoming resources and application of resources, including the income and expenditure, of the group and charity for that period.

In preparing these financial statements, the Trustees are required to:

The Trustees are responsible for keeping adequate accounting records that are sufficient to the financial position of the charity and enable them to ensure that the financial statements comply with the Companies Act 2006. The Trustees are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

14

Statsment as to dlsclosure to our audltor* In so far as. the trustees are aware at the time of approvr￿ I￿r trustees. annual rewrtr. There is no relevant infomithn. beirvJ infom)ation need&1 ty the auditor in connection with preparing th￿r repor( of which the group's auditor is unaware. The T￿￿tse$, havyng made enquiries of fellow directors and the group's audttor that they ought to have individually tsken, have each taken all steps that helshe Is obliged to take as a director in order to make themselves aware of any relevant audlt Infomation and to establlsh that the auditor is aware of that infornats'on. In preparing this Trustees. Report advantage has been tsken ofth8 small ¢ompanies' exempts'on, includirKJ the Optlon not to produc8 a strategic fwL By ord•r of th• Board of Trustw•: Carf Ferenbach (Chalr> Dats: &.Il.&

AND TRUSTEES OF ENVIRONMENTAL

DEFENSE FUND UK

We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

and, except to the exient otheThwse expliotly stated in our report, we do not express any fom) of assurance conclusion thereon. Our responsibility 15 to rea¢J the other information and, in doing so, consider whether the other information is materially incon51Stent ￿th the financial Statements or our knowledge obtained in the course of the audit, or otherw5e appear5 to be materially mfsstated. If we identify such material inconsistencies or apparent material misstatements, we are required to detem)ine whether this gives rise to a material misstatement in the financial 5tatement5 them5elve5. If, b05ed on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to ￿port in thls ￿ard. Oth•r Companles Act 2006 r•portlng In our opinion, based on the work undertaken in the course of the audit.. the information given in the Trustees. Report, which includes the Directors. Report and the Strategic report prepared for the purposes of Company Law, for the financial year for which the financial statements are prepared is con51Stent with the financial staternent5- and the Strategic report and the Directors. Re￿rt. which are included in the Trustees, Report, have been prepared in accordance with applicable legal requirements. In the light of the knowledge and understanding of the Group and the Parent Charitable Company and its environment obtained in the course of the audit, we have not identified matertal mlsstatement In the Strategic report or the Tru5tee5' report. We have nothlng to report In respect of the follo￿￿$ matters in ￿latIon to which the Companles Act 2C#)6 requlres us to rep)rt to you If, In our oplnlon- adequate accountlng records have not tjeen kept by the Parent Charitable Company> or returns adequate for our audlt have not been received from branches not wsited by us. or the Parent Charitable Company financial 5tatement5 are not in agreement wlth the accounting records and returns- or ertaln dlKlosures of Olrectors. remuneratlon speclfled by law are not made,. or we have not recelved all the Information and explanations we require for our audlt. Responslbllltles of Trustees As explalned more fully In the Trustees, ￿ponsIbIlit5e$ statement, the Trustees Iwho are also the directors of the charitable company for the purposes of company lawl are reswnsible for the preparatlon of the financial statements and for being satisfied that they glve a true and falr view, and for such internal control as the Trustees determine is necessary to enable the preparation of financial statements that a￿ free from material misstatement, whether due to fraud or error. In preparing the financial statements. the Trustees are responsible for assessing the Group's and the Parent Charitable Company'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 the Trustees either intend to liquidate the Group or the Parent Charitable Company or to cease operations, or have no realistic alternative but to do so. Auditor's responsibilities for the audit of the financial state￿￿nts We have been appolnted as auditor under the Companies Act 2(Mkn and report In accordance with the Act and relevant regulations made or ha￿n9 effect thereunder. 17

Extent to which the audit was capable of detecting irregularities, including fraud

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

Based on our understanding of the charity and the industry in which it operates, we identified that the principle laws and regulations that directly affect the financial statements to be relevant are the Charities Act in the UK, Companies Act 2006, UK GAAP, FRS 102 Charities SORP and tax legislation. We assessed the extent of compliance with these laws and regulations as part of our procedures on the related financial statement items.

In addition, the charitable company is subject to many other laws and regulations where the consequences of non-compliance could have a material effect on amounts or disclosures in the financial statements, for instance through the imposition of fines or litigation. We identified the following areas as those most likely to have such an effect: employment law, health and safety legislation, and data protection. Auditing standards limit the required audit procedures to identify non-compliance with these laws and regulations to enquiry of Those Charged with Governance and other management and inspection of regulatory and legal correspondence if any.

either as a result of fraud or error. We also considered financial performance and key drivers for any performance targets. We also considered the risks of non-compliance with other requirements imposed by the Charity Commission and we considered to extent to which non compliance might have a material effect of the financial statements.

We have made enquiries of management, and the Board, including:

Our audit procedures were designed to respond to risks of material misstatement in the financial statements, recognising that the risk of not detecting a material misstatement due to fraud is higher than the risk of not detecting one resulting from error, as fraud may involve deliberate concealment by, for example, forgery, misrepresentations or through collusion.

There are inherent limitations in the audit procedures performed and the further removed noncompliance with laws and regulations is from the events and transactions reflected in the financial statements, the less likely we are to become aware of it.

Jill Halford (Senior Statutory Auditor) For and on behalf of BDO LLP, statutory auditor London, UK Date 19 June 2023

BDO LLP is a limited liability partnership registered in England and Wales (with registered number OC305127).

Environmentsl Dgfense Fund UK on$olidated Statement of Financial A¢tivities Iin¢orpoffjting an incotne and expenditu￿ accounti Forthe ear ended 30 Se tembBr 2022 2022 Totsi Vnred¢ted Re$b)¢ted 2021 Incornefrorn.. Chanlable actsvths. Climatè Inibats other Income 5.616.289 TT 516 157.616 5.773,90S 77.516 3,309.SU3 754,345 4,(￿3.928 Total ITrcornE 5.693.005 157.816 5,851,421 3.309.583 754.345 4,063.928 Exp•ndttur• on.. Chantstde acbviries. Climate Inthalwes 5.631.569 157.816 5,789,185 3,296.200 704,093 4,W2.292 Total exwdknrn 5.651.569 157.816 s,7￿,186 3.296.200 704.093 4,W2.292 N•t Incorn• forth• year 02230 62236 11.383 50,252 81.635 Translers bet4veen fvnds Nt m0￿M￿n¢6Th funds 50.252 $223$ 61.835 e1.636 R•concllliOon of fundi.. Total lund5 brDughl foTh¥ard 659.164 6Sg,164 S97.529 597.529 Totsl lundl urrl•d lorwxd 14 721.400 721,400 859.184 059.184 T￿￿￿￿r•lla olhwt•cognls•dgwM oiknu•i 20

Environmentsl Defense Fund UK Consolidated Balance Sheet As at 30 Septsmber 2022 Company rogl8tr•llon no. 0921T493 2022 2022 2021 2021 Flxed a•80ts'. Tangible Intsngible Assets 74624 42,860 8,238 TT,528 51,098 Currfjnt asts•ts: Dabtors Cash al bank 10 161.656 1,281,687 1.443.343 1,094.867 IA34J63 Llabllltl••: Credilor8'. amounts falllng wrthin one year 11 1772A811 (829,27n N•t eumint ••••t• 662.002 614,068 Total a••ot• IM• ¢uYv•nt Il&bllltl 740.030 685,164 Pw$k)n$ fcrf li•bilitl•s 12 (18.rAo) 18,000} Total not a•••ts 721,400 659,164 Fund• ReslriGted fvnd8 Unr•8tncted fund8 13 13 721,400 859,164 Totsl fund• 721,400 669,1PA Th• fin•nGwl ￿tat￿￿ts hav• bwn Fwar•l in wilh Ihe ithsl(Th for gmall ¢ompanl88 under Part 15 of the ConpanM kt 2006. ts . IS-.&5 Approvod bythetruste88 on............................ ar)d 8KJned on th8iT behalf ty. ' N*m• Trust The attached notss fonn part of the financial slatemen 21

Environmentsl Defense Fund UK Parent Charity Balance sheet As at 30 September 2022 Company registration no. 09217493 2022 2022 2021 2021 Flxgd assets: Tanoibh assetÈ Intangible A88ets 42.860 8,238 51,096 Currnnt au•ts: Debtors Cash at bank 10 1813TT 852.685 1J)03,962 223,344 1.184,925 1.408.269 LlabllltlM: Credltor8: amounts falllrwJ due withln one 11 (403,239) 1816.&S3} N•t ¢urront a•••ts 600,723 591,406 Total a•••t• l•M ¢urr•nt Nabllltl•• 660,271 642.504 Provi8ion8 for lia￿liti88 12 (18,630 16,CK)01 Total not a•••l• 641.641 836,504 Fund¥ Restricted fund• Unréstrided fundB 13 641,641 636,504 Total fund• 641,641 838,504 The financial statements ho￿ b￿n preparod in arx>)nkn with the proNision8 ftjr small c(Ynpanle8 Iind*r PArt 14 of tho Compani89 Act 2(￿. A8 Fennltted by section 408 of the Companie5 Ad 2006. the Parent Chafitable CL¥npanV8 praflt And l¢)$8 account has not hen indLKled in these financial statements. The suWu$ for Ihg year was £62,238 (2021." £61.635 surplus). Approved by the trustees on ... and s￿ned on their behalf by. Nam Trustee The 8ttached rKkns fcrfm rort of the finaneial stat•m￿trI. 22

Environmental Defense Fund UK Consolidated Statement of Cash Flows For the year ended 30 September 2022 2022 2021 Net ca$h (used inl I provided by operating activities 101,829 1,169,974 Cash used in investing activities 172,0221 120.9531 (Decrease) I Increase In cash and cash equlvalents In the year 29,807 1,149,021 Cash and cash equivalonts at the beginning of the year 1,281,687 132,666 Cash and cash equival8nts at the end of the year 1,311,493 1.281,687 Reconcillatlon of net expenditure lo net cash flow from operatlng a¢tSvltloS 2022 2021 Net expendlture for the reportlng perlod las per the statement of flnanclal actlvltlesl Amortisation charge Depreciation charge Ilncreasel I decrease in debtors Decrease I lincreasel in creditors Wrile-down of investment In¢rea$e in provisions Not ¢a$h Iusod inl I provlded by operatlng 4¢tlvttles 62.236 61,635 8,238 37.354 10.986 15.537 881.419 200.396 {6,0001 101,829 1,169.974 Cashflow from Investing actlvitie8 Purchase of Tangible Fixed Assets 72.022 72.022 20.953 20,953 Changes in Net Funds At01 October 2021 Cash Flows At30 Non-cash September changes 2022 Cash al bank 1.281.687 (187,120) 1.094.567 Net cash 1,281.687 {187.1201 1.094,567 The attached notes form part of the financial statements. 23

Environmental Defense Fund UK Notes to the financial statements For the year ended 30 September 2022 Accountlng pollcles Basis of preparation The financial statements have been prepared in accordance wth Accounting and Repoth'ng by Charities.. Statement of Recommended practi￿ applicable lo charities preparing their accounts in aecordance wrth the Financial Reporting Stsndard applicable in the UK and Republic of Ireland IFRS 102 - effective 1 January 20191- IChanb"es SORP FRS 1021 and the Companies Act 2006. The charitable company meets the definibon of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at histor￿1 cost or transaction value unless otherwise slated in the relevant accounting policy or note. These financial statements have been prepared in accordance with provisions applicable lo companies, subject lo the small companies, regime. Basls of Consolldatlon These financial statements consolidate Ihe results of the charity and ils controlled subsidiary undertaking Slichling Environmental Defense Fund Europe on a line by line basis. A separate Slalemenl of Financial Activitses and Income and Expenditure account for the charity has not been presented because it has tsken advantsge of the exemption afforded by the Charib'e$ SORP. 1.2 Golng concern In as$es$ing the impact of COV1[￿19 on EDF Europe, the Trustees have Considered all the mallers described in the Trustees, Report, including the group's operations, the impact on donations and grant fvnding. With this in mind, the Trustees can Confirm there are enough funds lo support the programmatic operations of EDF Europe. Despite the global pandemic, Environmental Oefense Fund Europe is in a good position and maintsining its ¢urrent programmatic strategy and expansion plans. The Iruslees also deem the future risk lo income streams lo be negligible as a result of the signed letter of support from Environmental Defense Fund Inc. This ￿tter demonstrates that the parent company has a legal obligation lo cover the shortfalls up to March 2024. The trustees have made suitable inquiries and considered the charity's forecasts, including cash flow. updated in the context of the COVID-19 pandemic and covering a period of at least 12 months from the date of approval of these financial statements. In making our assessment. the Trustees did not consider there lo be any malenal uncertainty relating lo events or conditions that individually or colleth'vely may cast significant doubl on the company's ability lo continue as a going concem. Income Income is recognised when the charity has ents"Ilemenl lo the funds, any performance conditions attached to the income have been mel, il is probable that the income wll be received and that the amount can be measured reliably. Income from government and other grants, whether 'capital' grants or 'revenue' grants, is recognised when the charity has entitlement to the funds, any performance conditions attached to the grants have been mel, it is probable that the income will be received and the amount can be measured reliably and is not deferred. Income received in advance for the provision of specified Servi￿ is deferred until the criteria ft)r income recognition are mel. Fund accounting Unrestricted funds are available lo spend on acbvib'es that further any of the purposes of charity. Designated funds are unrestricted funds of the charity, which the trustees have decided al their discretion lo sel aside to use for a specthc purpose. Restricted funds are donab'ons, which the donor has specified, are to be solely used for parb"cular areas of the charity's work or for specrfic projects being undertaken by the charity. 24

Environmental Defense Fund UK Notes to the financial statements For the year ended 30 September 2022 Accounting policies lcontinuedl Expenditure and irreeoverable VAT Expenditure is recognised once there is a legal or constructive obligation lo make a payment lo a third paty. Il is probable that setuemenl will be required and the amount of the obligab.on can be measured reliably. Expenditure is classified under the following activity headings.. Costs of raising funds comprise of trading costs and the costs incurred by the charitable company in inducing third parties to make voluntary contributions lo it, as well as the cost of any activibes with a fundraising purpose. Expenditure on charitable activities includes the costs of delivering setvices, exhibitions and other educational activibes undertaken to further the purposes of the chanty and their associated support costs. Other expenditu￿ represents those items not falling into any other heading. Irrecoverable VAT is Charged as a cost against the actsvity for which the expenditure was incurred. Allocatlon of support costs Support costs are those functions that assist the work of the charity bul do not directly undertake ¢haritsble aclivrties. Support costs include offi¢e ¢osls, finance, personnel, payroll and governance costs which supp)rt the chanty's environmental programmes and acts'vities. Support costs have been allo¢aled to expenditure on charitable activities. Oporatlng 1oas6s Rental charges are charged on a slTaighl line basis over the te￿ of the lease. Cash at bank Cash al bank includes cash and short lem huhty liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account. Credltor8 and provisSons Creditors and provisions are recognised where the charity has a present obligation resulting from a past event that will probably result in the transfer of fund5 to a third party and the amount due lo sellle the obligation can be measured or estimated reliably. Creditors and provisions are normally re¢ogni$ed at their settlement amount after allowng for any trade dis¢ount$ due. Provisions for dilapidations lotalling £18,630 (2021". £6,WOI are the best estimate of eosts for the repairs and redecoration of office premises to retum to gc¥)d order before vacating in July 2025. 1.10 Financial instrurnents The charity only has financial assets and ffinancial liabilities of a kind Ihal qualify as basic financial inslrumenls. Basic financial instruments are inilialty recognised al transaction value and subsequently measured at their setuemenl value with the exception of bank loans which are subsequently measured at amortised cost using the effective interest method. 25

Environmental Defense Fund UK Notes to the financial statements For the year ended 30 September 2022 Accounting policies lcontinuedl 1.11 Intangible Assets Intangible assets relate to website development costs. Where the charitable companies, websites are expected to generate future revenues in excess of the costs of developing those websites and all other capitalisation criteria are mel, expenditure on the functsonality of the websrte is capitalised and treated as an intangible fixed asset The capitalised website development costs are subsequently amortised to 'administrative' expenses on a straight line basis over 4 years, ex￿pt for those that are 'assets under constructson,, where no amortisatson charge is incurred until the asset is complete. 1.12 Tanglble flxed assets Items of equipment are ¢apitalised where the purchase pn￿ ex¢eed$ £500. Depreciation is provided al rates calculated lo write down the cost of each asset lo ils estimated residual value over ils expected useful lrfe. The depreciation rates in use are as follows". Fixtures and frttings - 200k slraighl-line basis 1.13 Forelgn Currencles Assets and liabilities denominated in foreign currencies are translated at the rate of exchange ruling al the balance sheet date. Transactions are recorded at the rale ruling at the dale of the Iransaclion. All differences are taken to the Statement of Financial Activities. 1.14 Judgements In applylng accountlng pollcles and key sources of estlmatlon uncertalnty Revenue is recognized on the Oceano Azul Foundatson grant based on a percentage completion basis over the life of the contract using a best esb.male based on supporting budgets and costs submitted. The Iruslees do not consider there are any further critical judgements or key sources of eslimalion uncertainty requiring dis¢lo$ure. 26

Environmental Defense Fund UK Notes to the financial statements {continued For the year ended 30 September 2022 2 Donations and Grants 2022 Total 2021 Total Unrestricted Restricted Climate initiatives EDF Inc Clean Air Fund.. Breathè London Clean Air Fund.. Data Into Action Clean Air Fund. Through Traffic Children's Investment Fund Foundats'on Frederick Mulder Foundation Oceano Azul Foundation Other Donations United Nations Environment Programme 5.593.501 5,593,501 3.243,226 181,879 29,920 39,000 346,726 10,000 50,959 S6,3S7 105,862 5.241 6,241 38.168 38,168 22,788 114,207 22,788 114.207 T¢tsl for ¢llmats fo¢u8•d Inhlatlv 5,616,289 157,616 5,773,905 4,063,928 Of the total Donab'ons and Grants fwnised in 2021, £754,345 was considered re$lri¢ted. A breakdown ol this income can be found in note 14. An8ly818 of tumovor by Country of d￿fInall0n 2022 Total 2021 Total Unrtod Kingdom Rest of Europe Rest of the world 28,029 152,375 5,593,501 ,773,905 853,881 166,821 3,243,228 4,063,928 3 Oth•r Incom• 2022 Total 2021 Total Unrestricted Restricted FOREX gain 77.516 77,516 27

Environmental Defense Fund UK Notes to the financial statements (continued) For the year ended 30 September 2022 4 Analysis of expenditure Charitable activities Support Govemance costs Costs Climate initiatives 2022 Total 2021 Total Staff costs Professional fees Stsff travel Rent Office costs Meetings Subscriptions General Adminislralion Audit and accounts fee 2,782,895 1,884,406 157.686 2.782,895 1.884,406 157,686 365,836 41,088 348,838 37,010 126,396 45,030 1,912,295 1,590,097 8,414 317,197 46,115 222 14.574 33.976 79,402 365,836 41,088 348,838 37.010 126.3 45,030 4,824.987 919,168 45.030 5.789.185 4,002,292 Support costs 919,168 {919,1681 Governance costs 45,030 {45.0301 Total oxpend6turo 2022 5,789,185 5.789,185 Total expenditure 2021 4,002,292 4,002,292 Of the lolal expendrture incurred in 2022, £5,789,185 was unrestricled12021." £3,298.2001 and £157,816 was restricted 12021.. £704,093). Professional fees relate to third paty services utilised in order to meet charitsble objectives. as well as services required lo maintain the operational aspects of the Charity. such as HR and accountancy. 28

Environmèntal Dèfènsè Fund UK Notes to the financial statements leontlnu8dl For thè year 8nd8d 30 S8Ptember 2022 N818XP8ndltuTr forih• y￿r This is stated after charging.. 2022 2021 Op8rallNJ lease rentaL8'. - Property Depreciation Amortisaiion Auditors remunw¥btsi'. - ALKlitfees 270.BO4 J7.3S4 8,238 271.109 15.537 10.986 44030 32.760 An8ly8h of8tth ¢08ts, trut•• r•murb•rnlloh •md •xp•th￿. Imd th• eo8tof kty maMy•mMt portomnol Staffeosts %%ve as fc11￿.. 2022 2021 Salarles aNI wa9èS Soclal 8￿Urity￿8ts Employer's conlribulh)n lo defined penxm schemes Othw stsff costs 1,674,621 759,461 180,663 168,050 2,782,895 1,337,054 187.406 201.538 150.475 1,878,471 Tho follo¥Mng numbprof ¢mploy¢es trfi0fits1oxdudty tynpbyer p￿¢￿) gr¢aterth• £60.000 during IhB year.. 202Z 2021 No. £60.000- £68,999 £70,000. £78,999 E80,000- £89.999 E90,000- £99.999 £100,000- £109.999 £110,ODO- £119.999 £120,000. £129.999 E130,000- £139.999 £140,ODO- £149.999 £150,000. £1S9.999 £180,ODO- £169.999 The lolal 8mpby88 renumeratbn the key managemenl perstyind ere E400.962 12021. E489.0761. Key managerffaDI person￿1 ￿re delemilned lo Ihe Execuli¥e Vice President. Regk)ns. Chief ExeaAi¥e and S¢rthy tlrec¢orol De¥do[￿nI In 2022 IM8n&oing Director, Execuvve Director and DirectcK of Devebprronl in 20211. Redun¢8ncy4nd lermin8lK)n cosls r¢lats"ng toemployees ¥%we £412021.. £nll The charity Iru51ees were not Paid or receNed any other b2neffls fTom wblh the Trus1 or its Sub￿diary in the year12021". £nill neither were Ihey reimbu[￿1 expenses during the sar 12021. Enll. No (atity Injstee re￿ved parni for k¥ofesonal ar other setvKes suwAied lo the charity staff average number ofemrlo)es Ihe•J c£wnt b3J c¥) number 0fstth•W￿J) duriNJtr ￿WaS as fra(rns". 202Z 2021 No. EDF Europe UK Slichlinu EDF Europe 14 25 29

Environmèntal Dèfènsè Fund UK Notes to the financial statements leontlnu8dl For thè year 8nd8d 30 S8Ptember 2022 Taxatlon EDF UK and Stichting EDF Eur￿ are exemptftDm ￿N￿3b￿laX asai ts tharilatAeand ￿ ap￿￿￿ for charitab￿ purposes. Tanglbl• Ilxed EquipnEnt Ots Equipment 2022 2021 Coxt At the start of the year Addit￿n5 in year Al the ènd ofthtryear 65.70D 44.747 20,953 65.700 134.818 Amortliatlo Al the 5t8rt of the ￿ar Charoe for the year At the end of Ihe year 22,840 37,354 60.194 7.303 15,537 22,840 Not book valu• At th• •nd of th• y•r 74.624 42,860 Al th8 surt of Ihe ytar 42.860 37.444 l ol the abo¥8 8S8ets are used ts tharilable PUW8S. Int•nglbl Ilx•d ••••l• Wobyto Wobsito Dek>wneni De¥ek)pmgnt 2022 2021 Coit Al the 5t8rt of tho year Addit￿￿& in Al the eNJ of the year 43.942 43.942 43.942 Amortl¥•tlon Al the start of the year Charae for the year Al the end of year 35.704 8.2 43.942 24.718 10.986 35.704 N•t book v•lts• At th• •nd of th• y•ai 8.238 Al the tstart of Ihe year 8.238 19.224 l of ihe above k$5ets •re f¢r tariiabl¢ wrp¢s¢s. 10 Debiof8 Grtyjp 2021 Char 2022 Parem Charbty 2022 2021 Trnde debtors Amounts Dwed by group urKJertakws PrepayYMnts Aruued inrA)me 227.$52 112,8U 44,358 106,919 61.688 129,236 32.420 223.344 129.236 3Z.420 161.656 340.39$ 151,277 30

Environmèntal Dèfènsè Fund UK Notes to the financial statements leontlnu8dl For thè year 8nd8d 30 S8Ptember 2022 11 Crndltorn: a1￿unts ialllng due wlthlt) on• year Group 2022 Group 2021 P•rgnt Ch•rty 2022 Parent Charty 2021 Trade crajitors Olher creditors Accrua5 Amounl&owed lo group undertakings Taxes and Sc¢kg1 Seeur Deferred Inr4)rr 262.744 91,148 402,381 35.416 12.358 676.953 56.663 31.311 16.576 829.277 101.706 56,608 247867 35.416 12.358 665.384 55.818 16,1BB 772,461 16,1B8 421,669 16.576 818.863 12 Provllloni lor Ilabllhki Group 2022 GrDUP 2021 Parent Charty 2022 P4rent Charity 2021 Ownino balarbce AddilK)ns Amounts charged 3gainsl the pro¥i5ion Closing balance 0,000 12,630 12,6JO 18.630 18.630 6,000 T￿ w0vis￿ aty)ve h¥$ been mode10 ¢ty4erth¢Mstpfdilaptsb￿s w¥rise •1 the •KI ofthe ￿￿Se torm on the w LondDn property. Thl provIs￿n ￿ expecied to ba ubloed in 2025. 13 Anilyli ol n•t ••ts btrtw••n fufith-eurr•rbty•v IGFoupl Lthre8tfthY Resldth Total T8n9lb￿ 8888ts Nel curreni asse Provision5 f(K Iiatylitye5 N•t •180ts at th• •nd olth• y•ar 77.528 662.502 (18.6301 77.S28 662.602 IIB.6JQI An8lysl¥ of nel 8s5e15 b•tywon fvnd5- fftr R051rtthd Total fvnds T8NJibk fixed 888el& Nei curreni asse Provislon for 1k8b11￿e8 N818$S&tS al thè ofthe 51.098 614. 16.OWI 659.164 51.098 614.066 18,0001 659.164 of n•t i•¥•ts b•ts¥g•n I￿n￿-CUrr￿nly￿I IParnn¢ Ch•rltyl Restiicted T4)tsl f¥nd• T8r01b￿ fixed assets Nel currem assets Provision5 liatslitye5 Nèt aitrt8 at th• •nd of the y•ar 59.548 600.723 (1J.6301 69.548 600.723 118.03QI Analysi5 of ne¢ 8S5e15 beMen fvnd5- Re51ri(#ed Total lunds Tary1b￿ fixed assets Nei tU￿ent assets 51.098 591.4C6 16.0001 51.098 591.406 16,0001 636.504 Nel as5e15 at the end ofthe 31

Environmèntal Dèfènsè Fund UK Notes to the financial statements leontlnu8dl For thè year 8nd8d 30 S8Ptember 2022 14 Movements in lunds-currpntyearlGroupl At01 2021 Trtnsfe At30 Sèptsmbèr2022 R88irl¢iod lund8'. Children's Invesmenl Fund Foundalion OceanoAzul Foundats(Mi United Nati￿$ EnwronnEnl Progrdnvr 5.241 38.168 114.207 15.2411 (38.1681 1114.207> Totsl rn8trl¢tedlund• 157,616 11S7.6161 Llnroitrlcted fundi.. General funds 6S9.164 5.693.804 {S.631.5701 721,398 Total uhroitrlct•d lun 669.164 6.693.804 16.631.S70 721.398 Total lund 659.164 6MS1.420 {S.789.1861 721,398 Mmrn•nt• In fund¥-¢urrvnty••ilP•r•nt¢h•vMyl Atol 2021 IrK(rfr• ExrKldurv Transfe At 30 Sgptmbgr2022 R•itrl¢t•d lund'. Childtsn's Invesbneni Fund Foundaiion Oceano A2uI Foundaiion United N8￿￿S Enwronm8ni Pmor8n¥ne 5,241 38,166 114,207 15.2411 138.1681 1114.2071 Tot•1 v•trlct•d lund 167.616 11S7.616 Unrn¥trlctsd fun41¥'. General lund5 636.504 2.$86.112 12.586.112) Tot•1 unr••¢rl¢t•d lund• 2.618.112 {2,Se6,112 T4)tsl lund¥ .74 32

Environmèntal Dèfènsè Fund UK Notes to the financial statements leontlnu8dl For thè year 8nd8d 30 S8Ptember 2022 Movements in fundi- prioryearlGroupl Atol 2020 Trtnsfe At 30 Soptsmb•r2021 Ro8trl¢ied lund8'. Clean Fund. Brealhe London Clean ￿r Fund. Data Into e￿an Fund. Through TT3ffic Children's Inveslmenl Fund anoAzul Foundation Uniltd Nations Environment Pmoran￿ 181.879 29.920 39.( 346.72S 50,959 105,862 1181.8791 139.0001 1346.7251 150.9591 (74.4281 131.4341 Totsl restrlcw tund¥ Unreotrlcted fundi.. General luNJs 597,$29 3,309,583 13.298.2 50.252 669.164 Totsl unrestrlctsd fund¥ 597,$29 3,J09,SBJ 13.298.2001 50.252 669.1 Tot•1 lund• 697,$29 4,0$3,928 14.002.293 669.164 Mtsv•m•thts In lund- prlory•rlPar•nt Ch•rltyl Atol 2020 ExFthYKure Transfe At 30 S•phmb•r2021 R••irl¢iod lund•'. Clean Fund.. Brealhe Londtyi Clean Fund. Da￿ Inlo Clean Fund. Through Traffic Children's Inveslmenl Fund QGeano knul Foundalion UniiÉd NÈbons Environmèni Pmoranw 181,879 29.920 39.ON) 346.725 50.959 105.862 1181.8791 139.0001 1346.7251 150.9591 174.4281 131,4341 Totsl r••¢rl¢fvd lund• Uthrnitrl¢t•d fundi.. Genernl lur￿$ 574,869 2.938.878 12.927.495> 50252 Totsl unr•itrl¢tsd lun 174169 12.927.49$1 10,202 Totsl lunds 174,869 3,693223 13,8Jl,SU 1S Optrratlng ltra•• t•mmknrbts Total futur6 mlnlmum leas8 paY￿￿ts uTr3w￿￿￿1g0rWalIr￿j ￿al•S 2022 2021 Less than 1 year 2-5y8ars Grealerlhan 5 ￿rS 270,804 366,513 270.804 637.317 637,317 908.121 33

Environmèntal Dèfènsè Fund UK Notes to the financial statements leontlnu8dl For thè year 8nd8d 30 S8Ptember 2022 16 Legal 8tstu¥ ol Iho charfty The charity i5 3 c￿par}Y lifflited by gUa￿tee arKI has no sh￿e •. member i51th to ¢￿th￿te a Sum notvArEediry £1 in the event ofthe charity being Vllmjnd up. 17 Rel•tsd party tr4nsa¢tlon• T￿re are no (￿nati￿5 from related parlie5ththare crrtjrse of ￿￿ne$sand ￿SInGted donation5from rdate(J pa￿e$. DU￿n¢ the wr th8 LynSsalknn rec8Ned a granl 01 £5.593.501 12021". £3.2432281 frcth EDF Inc. IndudJ ¥%ilhin d8btors fallng dug vlbthln one year Is an amount 0￿￿￿ ai the end of the wr by EDF I￿. ol ￿27.55212D21.. £55.618 (Yeditorwas ￿ 10 EDF Ire I Included ￿thin the grant from EDF Inc W55 £3,045,570 to coverlhe (reratyro costs of the StichbrJ. This was subwuenlty regrwrted by EDF Europe lo the Sbchting. At the end ol the year a debtOrtsaL4￿ of £129.536 YKd5 ￿med by EDF IrL to Sbthbng. Mr. Roland KuPe￿. a txHrd mefflberof EDF UKand of Sbchbng Ef Ewrye. Th p￿1 Euro 28k ty EDF IrKduriry FY22. under rA)ntract as a Senior SclènEe Advisor lo the EDF Office of thè Ch￿f Sc￿nb$1. Mr5. Hannah Ryder. a board memtw ol EOF UKand of SIKhbThJ EDF Ewop8. comp8n8atsd wa her affilaied al entity. D8¥ah)prwdnl Rdmagined Ltd. GBP 6k for the costs as80iated ￿1h tra¥d and in al Afvica Cknate Week. Mr5. Andrea Moroea. a trt)ard wember ol EDF UK and ofsbthbw EDF Eurwe. to becrmr•isated ty Stichting EDF Europe for hOrtr9￿ and accommodation expenses in(￿rred duriry the rwrfed Peri￿ in IhearrK)unl ofarts G8P 575. Dunng the reported period, b￿r￿ rnemtr5 01 EDF UK and ofSbcthbTra EDF Eur¢￿ Mr. Cart Fer•ibxh and Mrs. knjrea p3ffjcipatsd èi a dlnnèr méèting wbth EDF UK maw8m8ni." Ihtr per￿￿al b6n8fi101th8 Irustttts not trxtthd GBP 200 for each. 18 Condult lundlng Durfng the year, EDF UK re￿1¥¢($ £27k from the LeVir￿ Famty Found8kn 12021. £48kl. Th• Foundation spwfied Iwthis funding was Intended to SUPP(Kt EDF Inc'5 Inth)nesan f15ts1i05 and asked fry d lo be tyarylwred lo EDF IK The fuKJino was r￿Ved inlo EDF UK'5 b&nk awounl bul w8$ Immediately Iransferred, in full, to EOF Inc. in ac(%)tdant ith Ihtr FtyJndatiM's intén￿. EDF UK has tts81ed btsih this and Ihe funds recèlved In FY21 as condull fundlng and as srth. has ￿ude0 thè tsf)an& 19 Po•t Balanco Sheet E¥•nts On November 16. 2022 sbchbng EDF Europe enlerèy into an 8greemenlwith 8 partyfc*￿8Se ofoffice space In Brussels, Belpium vthich ends January 31. 2032. In I￿U of a bank ouarantse. Ihe kwaoreed 10 acceo a cash deposrf from EDF Ir￿. ol EUR 103.962.50 (USD 8quivalenl $109,503.70). EDF IK provided ilws on No%vrthr 30. 20T2. 34

Environmentsl Defense Fund UK Notes to thg financial statements (continued) For the ear ended 30 September 2022 20 Stichting EDF Europo Statement of Financial Activities 2022 2021 Unr8Stricied Restricted Total Unrestrictsd Restricted Total Income from.. Donations and grants 3.045.570 3.045.570 370.705 370,705 Total Income 3.045.570 3,045.570 370.705 370,705 Expendltur on.. Charitable 8etNite$ 3.045.457 3,045.457 370.705 370,705 Total expenditure 3.045.457 3,045.457 370.705 370,705 Net movom8nt in funds 113 Reconclllatlon of lunds.. Total lund5 brought foward 22,660 22,660 22,660 Total funds carried forward 22.773 22.773 22.660 22,660 l ofiha atth8 resLIt8 are dedwed from cononuw Therewere no recc¥n15ed gains or h￿S01her1￿ thw 51•ted Tho 0ii¥h¢d n¢¢o$fomi porto1th¢s¥ fin•rKW wiomiM. 35