The Karlsson Jativa Charitable Foundation The Karlsson Jativa Charitable Foundation Registered Charily No. 1168787 Report and Accounts For the year ended 31 December 2025 Karlsson Jativa Charitsbtk FoUndat￿n Reference and administrative information Trustees Martin Andersson {retired 6 March 2025) Jeremy Arnold (retired 6 March 2025) Rose Marie Jativa Karlsson (retired 6 March 2025) Erland Karlsson (retired 6 March 20251 KJCF Trustees {appointed 6 March 2025) KJCF Truste88 Directors Martin Andersson (appointed 10 March 2025. resigned 24 April 2025) J¢remy Amold (appointed 10 March 20251 Rose Marie Jativa Karlsson {appointed 9 Dec¢mber 20241 Erland Karlsson (appointed 9 December 2024) Helen Watkins (appointed 9 December 2024) Address 78-79 Pall Mall London SWIY SES Constitution Registered Charity number 1168787 Governed by a TNSI Deed dated 5 July 2016 a$ amended by a Deed of Amendment dated O December 2016, as amended by a Deed of Amendment dated I l O¢tober 2024, as amended by a Deed of Amendment dated 16 December 2024 Audltors Rawlinson & Hunter Audit LLP Eighth Floor, 6 New Street Square New Fetter Lane London EC4A 3AQ Sollcltors Withers LLP 20 Old Bailey London EC4M 7AN Karlsson Jatlva rit4blg Ftsund1￿0n Reference and administrative information (continued) Bankers Coutis & Co 440 Strdnd London WC2R OQS Investment Managers GoldTnan Sachs International Plumtree Court 25 Shoe Lane London EC4A 4AU Brown Advisory Limited 18 Hanover Square London wis IJY Partners Capital 4 Orchard Place, London SWIHOBF Barclays Bank plc I Churchill Place Canary Wharf London E14 5HP KaAsson Jatlva Charitabl• Foundbtion Contents For the year ended 31 De¢ember 2025 Our work during the y¢ar is r¢ported in the following sections.. Trustee's annual report . Page 4 TNstee's responsibilities stai¢meni Page21 Indepcnd¢nt auditor's report ....... Page 22 Financial statements Page 26 Karlsson Jativa Charitablg ￿und•￿tr• Trustee's annual report (continued) For the year ended 31 December 2025 The Dir¢¢tors of KJCF TNstees {"the Trustee") present iheir report and audited financial statements of Th¢ Karlsson Jativa Charitable Foundation ("the Foundation"} for the year ended 31 December 2025. The finan¢ial statements have been prepared in accordance with the accounting policies sei out in note I to the finaD¢ial statements and comply wilh the Foundation's governing document, a trust deed dated 5 July 2016 as amended by a Deed of Amendment dated 6 December 2016. a Deed of Amendment dated I I October 2024 and A Deed of Amendmeni dated 16 D¢¢ember 2024 ("the Trust Deed"), the Charities Act 2011. the Charities Act 2022 where relevant and the Stat¢tnent of Recommended Practice.. Accounting and Reporting by ChArities preparing their accounts in ac¢ordance with ihe Financial Reporting Standard applicable in th¢ UK and Republic of Ireland {FRS 102) issued in October 2019. BAekground And Object$ The Foundation was fomied on 5 July 2016 by an initial settlement from Mr Erland Karlsson Iihe'settlor") and was registered by the Charity Commission Iregisiered charity number 1168787) on 16 August 2016. The Foundation has the power io advance such exclusively charitable objects and putpose5, under th¢ laws of England and Wales, in any part of (he world as the TNst¢e may in its discreiion think fit, including (without imposition any limitaiion or requirement). the advan¢¢ment of the art of music and the education of the public in the same in the United Kingdom, Sweden and other ¢ouniries across Europe. and the relief of poverty, distress and hardship and the promotion of education, health and welfare orany other exclusively charitabl¢ object in Latin America" Appolntment of Corporate Trustee On 6 March 2025 the Foundation's trustee stnJ¢iure was changed. By a deed of retirement and appoinimenl, the Truste¢$ retir¢d and a ¢orporate irusiee, KJCF Trustees, was appointed in their place. All of the existing TTUSt¢es at thai time were appointed as Directors of KJCF Tru5tee5, together with a new Director, Helen Watkins. Martin Andersson subsequently resigned as a Director on 24 April 2025. KJCF Trustees, a ¢ompany limited by guarantee under the laws of Enbland and Wales, was formed on 9 December 2024. lis members are Rose Marie Jativa Kar15son and Erland Karlsson. KJCF Trustees was formed for the purpose of atting as a trustee of, and administering, the Foundation. In order that KJCF TnJ5tees b¢ able to exercise the full range of irusiee powers, including in relation to land. and to give full discharge to the retiring Trustees of the Foundation, it sought irust corporation status pursuant to section 3 of the Law of Property (Amendment) Act 1926 prior to being appointed. KJCF Trustees applied to the Lord Chancellor for trust corporation s¢atus and that application wa5 approv¢d on 20 February 2025. Structure, Govern*nce and Management The governing document of the Foundation is its Trust Deed, which provides that the power of appointing new Trustees is vested in the Founder where the FoundeT'S pow¢r5 are held by the Settlor until such time as another person or persons are appointed pursuant to the power rgntained in the Trust Deed. The Directors of the Trustee are selected for the experience they bring. Any new Director will be given induction and trdining providing hirn or her with a Summary of how the Foundation operates and copie5 of relevant documentation. He or She will also be directed to the resources available on th¢ Charity Commission website for relevant guidelines. The Trust¢¢s who held office during the financial period and up to the date of this report were.. Martin Andersson (retired 6 March 2025) Jeremy Amold (retired 6 March 2025) Rose Marie Jativa Karlsson (retired 6 March 2025) Erl8nd Karlsson (retired 6 March 2025) KJCF Trustees {appoinied 6 March 2025) Karlsson Jatlva Ch*ltsbl• FO￿da￿rIn Trustee's annual report (continued) For the year ended 31 December 2025 All of the fomier Trust¢¢s gave and the Directors of KJCF Trustees giv¢ their time fveely and no trustee or director remuneration was paid during the year. The Trust¢¢ may delegate fvom time io time such of their pow¢rs of management and administration to one or more of th¢ir number or other persons as appropriate. The Trust¢e has adopted a Grant Making Poli¢y, details of which ar¢ given on pag¢ 17. To assist the Trustee in considering proposals and identifying appropriate partners in Latin America, the Trustee established a Laiin American Advisory Board {"LAAB") for (he Foundation to assist the Tru5t¢e in id¢ntifying appropriaie partners io work with in the music 5¢¢tor and in considering proposals, the Tru5t¢c est8bli5hed a Signatur Advisory Board (the 'SAB'> for the Foundation. During 2025, both the LAAB and the SAB wer¢ replaced with KJCF Board Committees {the KJCF Board Committee LACT Programm¢ {"the LACT Board") and the KJCF Board Committee Signatur Programme {"the Signatur Board")) to consider proposals and identify appropriate panneTS to work with in the Latin American and the music sector Tespectiv¢ly. The LACT Board and the Signatur Board can make certain grants within a delegated revocable authority granted by the Tnjstee. For grants ouiside the delegated auihority the LACT Board and the Signatur Board will provide KJCF Trustees with advice and recommendations. The members of the LACT Board and Signatur Board are appoinied by the Trustee and are identified based upon their expert15e and experience of Chariiable projects in the Latin America or the music sector. The LACT Board members who held office up to the date of this report were.. Pilar Bohorquez (appointed 9 July 2025) Cl8r¢ Dixon (appointed 9 July 20251 Rose Marie Jativa Karlsson (appoinied 9 July 2025) Erland Karlssonloppointed 9 July 2025) The Signatur Board memb¢TS who held office up to the date of this report were.. Peter Garden (appointed 9 July 2025) Caihy Graham lappoint¢d 9 July 20251 Rose Marie Jativa Karlsson (appointed 9 July 2025) Erland Karls50n {appoiTit¢d 9 July 2025) KJCF Trustees has established tems of reference which govern the operation of the LACT and the Signatyr Boards. The tern)s of referencc govem, intcr alia, the authority which has been delegated and its limitations., the membership of the board committee. the btsard committees. compliance with policies, including the Grant Making Policy., and the records to be kept by the board committees and the reports they are obliged to mak¢ to KJCF Trustees. The Trustee has by l)oard resolution appointed a Finance Committee consisting of members with financial ond professional services background to assist them in maintaining an investment programme eonsistent with the Investment Policy Ststement (see page 19). The specific remit of the Finance Committee is to develop the investment strategy, review potential investment managers and monitor ongoing performance. The Fsnance Committee assisted by the Foundation's Finance Director is responsible for day-to-day monitoring of and interaction with the investment managers and reviewing the overall portfolio performance and it reports back to the Directors of the Trnstee on a regular basis. The Finance Committee members who held office up to th¢ date of this report were: Martin Andersson Jeremy Arnold Erland Karlsson The delegation of investment rnanagem¢nt authority to Goldman Sachs International of the overall investment portfolio was in place between September 2017 and December 2023. Changes to the Goldman Karlsson Jativa ChNitsbkt Foundation Trustee's annual report (continued) For the year ended 31 December 2025 Sachs Intemation81 mandate, the award of separate investment maTJdates and additional investments ar¢ DOt¢d ￿rther in the Financial Review section on page 18. In 2025 the Foundation increased its headcount, hiring a Financ¢ Manager. Major Grants Manager and a Communications Manager. The Foundation had seven employees a¢ year end and the averag¢ headeouni was six12024.. four). Principydl Risks And Uncer¢ain¢ies The Trustee has examined the major risks faced by th¢ Foundation. including administraiive, investment related, regulatory, conflici of inierest. financial controls and other issues. Systems aTe in place to regularly monitor 8nd control ihese risks and to mitigate any impa¢1 th¢y may hg4ve on the Foundation. The main market risk to the Foundation comes from fixed asset investments. The risk lies in the combination of uncertain investTn¢nt mark¢ts and volatiliiy in yield. The Foundation manages these investment risks by retaining expert advi50TS and operating an investment policy that provides for a high degree of diversification of holdings within investment classe5. Credit risk on cash balances 15 mitigated by holding cash at mainstream financial instiiutions with strong credit ratings and in high grade money markei funds. The Trustee considers th¢ following risk factors for each proposed investmeni as well as the impact of a panicular investment 5¢1ection on th¢ overall portfolio risk return profile.. a) market risk.. equiry - bets of investment to equity markets, volatility, drawdown risk b) market risk.. rate5- sensitivity of investment io moves in interest rates ¢) market risk.. credii - sensiiivity of investment to moves in credit spreads d} capital risk.. counterpaty risk, default risk or risk of total investment failure e) concentration risk.. tsveTexp05ure io parti¢ular sector or investment type currency risk.. with respeci io unintended cU￿encY exposures 8) liquidity risk.. considered both in nomial and stressed market circumstance5 In order to manage the risk profile of the portfolio and its constituent parts, the Trustee maintains a heat map that is monitored on an ongoing basis. Financial markets face several uncertainties in particular with respect to the rnacro-economi¢ impact of uncertain trade policies and Various sources of geo-politl¢81 risks. The Trustee anticipates an elevated level of volaiility in light of these uncertain investment ¢ondition5, however, believes that the adopted Investment Policy Serves to mitigate th¢% risk5. Public Benefit The TTU5tee has had due regard to the Charity Commission guidance on public benefit when exercising any powers or dutl¢S to which the guidance is relevant. Each grant is made in fvrthEr2nce of a charitable purpose that offer5 an identifiable benefit to the public in 8eneral or a sufficient section of the public, and any private benefit that may accru¢ to any person or entity as a result of a grant is incidental. The Trustee will consider wh¢ther any ham or detrin)ent could arise from any grant and not make the grant if any such ham) or detriment could outweigh the public benefit. The Trustee considers that the detail in this report about the Foundation'5 grants and its purposes sufficiently identifies the benefit and beneficiaries of the Foundation's grant5, in such a way a5 to demonstrate the Foundation's benefit to the wider public. Kar15s0n Jativa charrta￿0 Foundation Trustee's annual report (continued) For the year ended 31 December 2025 Objectives The Foundation's Objects refer expressly to (a) Tllust¢ in the United Kingdom, Sweden and other countries across Europe,. and (bl poverty, health and education in Laiin America. These areas have been the predominant focus of the Foundation's grant making since its fomiation. however, given the Foundation's ¢XPAnded resources the Trustee is broadening the scope of the Foundation's target areas iniiially through the KJCF Quest Fellowship Prograrnm¢, other ar¢as will continue to ￿ explored. Signatur Programme With rcspect to Object (a) referred to in the previou5 paragraph. the Foundation has adopted the following Mission Stat¢meni'. "Together wilh likemindedparlners we aim lo creaie aforcefor an improvedsociety with ihe help of ihe ifying power of music. We wanl to open doors io ihe wovld of music for everyone, focusipjg on opporiuniiies io ihose who mighi not vihenviJe have ihe cha￿ce io aclively engage i￿. or have acc￿5 lo high quality musi¢ andmusic eduL'aliun. We 3e¥k io oci as a comnlerbalance lo ihe irends in sociery iowards superficiality and iniolerance, buildEng on ih¢ innate poleniiol of music and musicianship lo unile people across ages and culiures. The Foundation seeks to support organisations and proje¢ts that aim, directly or indirectly, to provide access ¢0 broad qualitative music educaiion andlor impTOV¢ the opportunities for the publi¢ to enjoy high quality music. Through ihis work it seeks to create conditions for cultural integration through mu51¢. In addition to music, Ihe Foundation can also sUPPOrt otheT ¢los¢ly related fornis of performing arts such as dance, ballei or theatre. In the United Kingdom, the Foundation prioritise5 8rant makin8 for exclusively charitable purposes to organisations that align at their core with our Mission Statement, i.e., those that have likeminded aims embedded in their"DNA" These may be music schools, con5¢rvatories, orchestras. choirs or other music establishments, as well as other registered charities operating in the field with similar objects. Grants will generally not be made to organisations or activities thai do not align at theireore with our Mission Statement. In Sweden, the Foundation has supported the establishment of a charitable foundation with charitable obj¢cts which align with those of the Foundation as set out further under 'Activities, Achievements and Future Plans, below. The Foundation identifies all the projects it suppons in the field of music, whether in the UK or Sweden, as Signatur Programm¢ PTOj¢¢ts using the Signatur logo. The intellectual property rights in the logo are registered to the Foundation and licensed to Signjtur Foundation Sweden.. •tur LACT Progr8rnme With r¢5P¢¢t to Object {b) referred to in the previous paragraph, the Foundatlgn has adOp￿d the following Mission and Vision Statement.. Miss1011 'We work wilh noi-for-profii organ1saii0￿S and lheir local PL7rtF7ers iF7 Bolivia, Colombia, Ecuador and Peru lo give childrert andfumilies ihe io ihrive. Through long-term collaboraiion, we sirengihe community-led iKilialives in educaiioK, he(Jlih andfL7mily WEllbeing, helping creare lasiing oppoplunilies and brigkierfviures. YESIOPI Karlsson Jatlva Trustee's annual report (continued) For the year ended 31 December 2025 "Togeiher wilh our partners, we envision communilies in the Andean region of Latin America where children andfamilie.f ihrive with dIg￿lty undhope, andwherg collective knowledge, culiure crealivity aye harnessed io build lasting, iuclHsive change. With respect to Obj¢¢t (b) the Trustee focuses grant making to UK-register¢d charities that support work in Latin America, in particular in the countries of Ecuador, Colombia, Bolivia and Peru. Projects are s¢l¢cted on the basis that they are speeific with well-defined budgets. implementation plans and targets and ar¢ in accordance with the objectives of the Foundation. There is an emphasis on projects that are likely to have a long-lasting ilnpact in tem)s of improving circumstances for children and their families and include a large element of local Community involvement. Priority is given io project5 that have the potsntial to scale their impact through advocacy or otherwise. The specifie objectives the Trusiee set for this financial year were to iderttify, evaluate, select and conduct follow-up of suitable projecis worthy of sUPPOrt from the Foundation consistent with its aims. The Foundation identifies all the projects it supports in the field of poverty, health and education in Latin America as LACT ProgTamme projects using its logo.. LACT Programme Programa LACT KJCF Quest Fellow$hlp$ Programme With respe¢t to the Foundation's broader charitable objects. the Foundation launched a programme supportiT)g a¢ad¢mi¢ research through the KJCF Quesi Fellowships Programme, initially in medical research. Further areas are being explored. Activities, Aehlevements And Future Plan$ tur Signatur Programme UK Sixteen grants totalling £745.639 (2024.. nineie¢n grants totalling £751,927) were made in the field of music und¢r the umbrella of the Signatur Programme in the United Kingdom during the year.. Aurora Orchestra: The Signatur Prtsgramme is supporting the next three-year phase of the 'Music for All, programme, 'An Open Doorto Orthe5tral Music. This work aims to build a lifelong pathway of open doors to orchestral music. With Signatur's support. the charity will deliver and expand four Streams gf work. Aurora Classroom'5 toolkit of free learning resources and teacher training will expand acr05s primary, SEND and secondary schools acr05S the UK, live activity for primary and SEND settings will deliver a programme of high-quality live perfomance for children, a ticket discount scheme will increase its focus to reach new audiences in secondary schools and under-305, and Symphonic Sounds. will create a new prograrnme of flexible and responsive conc¢rts for secondary schools and community audiences, building on work to date in or¢he5trdl storytelling and immersive perfoTman¢e to achieve a new depth of engagement in community settings. Karlsson Jatlva Chark•￿+ Foundation Trustee's annual report (continued) For the year ended 31 December 2025 Awards for Young Musicians (Young Sounds UK working narne): The Signatur PrograTnme continues to support 'Connect" which helps young people from the earliest stage in their musi¢al journey. The programme is specifically d¢sign¢d tts help young people fron) low-income families sustain th¢ir musical l¢aming after iniiial staie-funded whole-¢lass lessons end, so they ¢an keep on progressing and ploying usic well into their teens and bcyond. Through Connect, young people receive free lessons on an instrument of their choice during tenn time and a series of 'Get Tog¢thers' bring the young Connect musicians together for workshops to ¢xplgre different genres and Tnusic contexts, work wilh prof¢ssional musicians to create their own mu$i¢, and experience live music through a programme of con¢erts and perfomiances. Diocese of We5tminster.. The Signatur Programme continued its support of music therapy provision at Caritas Bakhita Hous¢, a refuge for women who have escaped mod¢rn slavery and human trdfficking. Music therapy has been part of the Caritas Bakhita House ICBH) service offer since January 2020. Guests are offered on¢ to one and small group sessions delivered by a highly skilled and experienced musi¢ therapist. Caritas Bakhita14ouse offers musie therapy as a creative, Thon-verbal and trauma-infomied means of dealing with very difficult, complex fe¢lings. London Musi¢ Fund: The Signaiur Programme has supported the Partnership Programme sin¢¢ 2021 and thi5 SUPPOrt continued in 2025. The programme enables London's Music Services io create ambitious projects that provide high-quality music education for thousands of young people, beyond what statutory funding would support or allow. Projects are delivcred by London borough Music Services, in partnership with professional music organisaiions, schools and venues. By ideniifying gaps in music ¢du¢ation through Community needs analysis and collaboraiion with prof¢ssional partners, each project addresses these challenges with diverse music programmes for an 8-18 year old5 ag¢ group. The programme enables young in5tnJmentalists to leam from and perfomi alongside professional musieians thereby aiming to f05t¢r a vibrant cultural e¢osy$tem ihrou8h sustained community engagement. London Sinfonietta.. After an initial one-year partnership. the Signatur Programm¢ continues to support 'Composition Challenge5" This next phase aims to increase impact and to driv¢ long-lasting change by delivering longer-tem work5hop5 and frequent sessions in schools in the London Borough of Camden alongside a serie5 of in-person activities in s¢hools beyond London. Resident workshop l¢aderslcomposers and musicians will work with pupils and the wider school community through a series of workshops delivered over multiple week5, followed by in-5¢hool celebration concerts. The project will culminate in 2028 with a national festival of composition to ¢el¢brate young people's creativity a¢r05S th¢ ¢ountry and to advocate for the wider benefit of this work to young people's education. Music Ma51er5: The Signatur Programme ¢oniinues io support the charity as they seek to grow and scale their work training musician5 to deliver in¢lusiv¢ and progressive music education, particularly in stale school settings across the UK where access to music education is inequitable and of variable quality. Music Masters aim to build on the programme'5 proven impact on the music workforce, schoo15 and children around the UK, by scaling thre¢ key initiatives that mirror and re-focus Musician5 Of Change modules for new audiences.. Reach In (a short cours¢ for professional musicians working in state School settings), Introduction to Group Teaching {practical training for early-career teachers), and Mentors of Change {developing experienced educators as mentors and change-makers). These programmes will support music teachers and musicians across the UK, aim2ng to empower them with increased confidence, 5p¢cialist 5kill5, and a professional network. Music of Life.. The Si8rt8tur Programme will support a new strategic phase of work for Music of Life as they seek to deliver their three year growth plan and advance their programmes for children and young p¢ople aged 5-25 who face complex physical and learning challenges, often compounded by economi¢ hardship and social isolation. With Signatur's support the chariry will seek to expand music provision for children with disabilities through cross-regional implementation of existing and new programmes, enhance life choices and employability of young people with disabilities by training theTn to become music leaders and teachers, foster inclusion through shared music projects between disabled childr¢n 8ndtheir mainstream Karlsson Jatlva Char[ts￿+ Faundation Trustee's annual report (continued) Forthe year ended 31 December 2025 peers, reducing social isolation, And inerease the number of partnerships to ensure project delivery, build digiial resources and online services. NationAI Youth Or¢hestra (NYO): In 2025 the Signatur Programme entered a new partnership with National Youth Orchestra, supporting a 3.year collaborative programme between NYO and Onside Youth Zones (YZ) in Wsgan, Wolverhampton, and Barking. The proposed programme is a unique and ambitious Cultural project through whi¢h t¢¢nage musicians from the NAtÈonal Youth Orchestra dir¢Lily tackle the lack of opportunities for their generation, by sharing their skills and passion for orchestral music directly with young people in youth ¢¢ntres. The programme aims lo foster new creative processes and genre experimeniation and foster cros5-¢ultural understanding through a powerful exchange of musical ideas, bringing iogether young people from div¢rse social and musical backgrounds. and creating ex¢iting original musical outcomes for peer group audien¢es ovei the period of th¢ partnerships. Nordoff Robblns (NR): In 2025, The Signatur Programme began sUPPOrt of Nordoff Robbins, music therapy provision in community setting5. Signatur will support two of th¢ ¢harity's priority partnerships with Islington MIND who provide a range of day services for Islington rc$2d¢nts experiencing mentbl distr¢ss in North London and Creative Living in Bury, Manchester a centre which uses a person-centred holisti¢ approa¢h to support people that have mental health illnesses io recover from them, as well as supporting people exp¢ri¢ncing poor emotional wellbeing who live in Bury and the surrounding ¢ommunity. Across the thr¢¢ y¢ars, and supported by Signaiur. Ihe Charity aims to provide up to nine hundred group mu5i¢ therapy sessions delivered by NR'S Health and Care Professions Council registered music iherapi5ts which will benefit over 200 adulis living with mental health conditions. ORA Slngers Young Composer$' Scheme: In 2025, Ihe Signatur Programme eniered the final year of the current grant for ORA Singers "Young Composers Scheme" The 5chem¢, supported by Signaiur since 2018, continues to nurture and develop a new generation of choral composers, providing world class coaching in choral composition for young people from stste schools across the UK. Students receive l-l mentoring with a professional comp05er, online and in-person work5hop5, and opportunities to workshop their ideas with ORA SingeTS to develop new ¢horal compositions. 2025 saw the sixth scheme support fifty young composers, culminating with a Showca5¢ ¢oncert at Kings Place, London with ten new pieces by the Youn8 Composers perfornied and recorded by ORA Singers in front of a live audien¢¢ and a panel of industy experts. Royal Birrningham Cong¢rvgtolre: The Signatur Programme continued support of the RBC LEAP (Leaming, Engagem¢nt and Partieipationl Programme which RBC d¢liver in partnership with a range of organisations, charitie5, and education institutions all of whom Share the same passion for engaging young people and families from diverse and disadvantaged backgrounds a¢TOSS thc UK. The programme ha5 multiple aims. A central aim is to educate and train the next generation of Socially ¢onscious musicians. This happens both in the cU￿1culUrn, through ext¢n5ive pedagogy and community engagement modules, and through opportunities to work in ¢du¢ation and community Settings, With Signatur's support. LEAP also provides a myriad of musical a¢tiviti¢s and opportunities that connect young people in communities of music and supports young people from diverse backgrounds who, for real or perceived barriers. do not access the level of music PTOViSlOTi th¢y n¢ed to continue their musical pathway5. LEAP supports young people in secondary education who do not hav¢ access to quality music provision in eurriculum and extra curricula activities, and young children and their families from communitie5 where music Can contribute to enhancing lives. Royal Liverpool Philharmonic Soeitty: The Signatur Programme supports the Royal Liverpool Philhannonic in its work to expand the provision of its long-terni orchestral mu5i¢-making programme "In Harmony" with the ambition to increase the effectiveness. reach and impact for young people in North Liverpool. In 2025, the charity extended and deepened impact in further CQTnmunities of North Liverpool developing new partnerships and establishing new youih hub venues where young people access weekly activities including individual and group instrument tuition, sectional rehearsals, bands and skillslcareers activities. RLPS continued to deliver and grow the In Hamiony Talent D¢v¢lopment Programme in 2025, providing instrumental tuition and ¢hamber music ensembles. including lessons from musicians in the Royal 10 Karlsson Jativa Trustee's annual report (continued) For the year ended 31 December 2025 Liverpool Philharn)onic Orchestri fully fimd¢d bursary access to Liverpool Philhamonic Youth Company ensembles, and the launch of two new traD51tion level Youih Company EnseTnbl¢s, a Youth Training Choir and Youth Training Orchestrd. Royal Northern College of Music: 2025 marked the end of a one-year Signaiur supported grant cycle with RNCM and ihe start of a three-year comTnitment. With Signatur's sUPPOrt RNCM began to trdnsfomi the Young Artisis programTne in 2025 to create an innovative new stru¢tur¢ that accelerates participants, learning and progression, strengthening the progression pathways towards popular music study at conservatoire level. RNCM Youtjg Artists programme delivers weekly sessions during term time, with groups split by school year. Every 5e55ion encompasses stimulus tuition (focused either on music theory, music industry knowledge, or artistic developm¢nt such as songwriting), followed by band workshops. During core activities, participants work on existing and original material with their band5 over the course of (he year. The sessions aim to uplift parti¢ipant5' technical and creaiive ski115, but a150 develop soft skills such a5 communication, confidence and collaboration. Learning is supplement¢d with masierclasses, group tutorial sessions and liv¢ perfomiance workshops throughout to provide a holistic education and inspire participants to 5¢¢ whai is possible in their potential careers. Sound Cortne¢lloths: The Signatur Programme continued its support of Sound Connections WIRED UP" programme. This collabgrativ¢ programme supports a diverse community of young ¢rea(ives through training, bur5arie5, mentoring and paid work experience. Young people are given liv¢ perfomiance opportunities (pr(Kluced by and for young people). real world expcrienc¢s both on and off stage, and are supported to build their networks through an annual conference that bTings tog¢iher music academics, practitioners, young people. and the music industry to discuss topical issue5 affecting young people who want to build creative careers. In 2025, Signatur entered a new threc-y¢ar partn¢r5hip in support of Sound Connections, ambition to build on 15+ years of championing youth voice and 501idify their position as a national organisaiion. To achieve these ambitions, with support from the Signatur Programme, the charity will ¢xpand performance events by working with youih music partn¢r5 beyond London, deliver an annual in¢lusive practice conference outside of London. and support wider sector development by providing training and ¢o-¢r¢ating eollaborative youth music focused projecis with community musi¢ or8anisations and their young parti¢ipants across the UK. The Muslc Works: The Signatur Programme entered the lastyear of ihe current grant cycle with The Music Works. continuing support of"The Drop", an open access programme in Gloucester that gives young people opportunities to get started and progres5 skills in a whole rang¢ of music activities. The Drop offers a safe place where young people can be creative with others and make music in a way that helps ihem thrive both creatively and within their lives. In 2025, the charity delivered th¢ programme at spaces in Gloucester and the Forest of Dean's Cinderford hub. The Drop and its associated prograinmes, Music Social and IncDrop continues to be one of the charity's most successful and consistently well attended programmes. With support from Signatur, this vital resource serves as both first access to The Music Work5 for mAny young people as well as being as one of the key progression pathways for young people on a one-to-one mentoring programme. During 2025, the charity focused on reachingyoung people from newly a￿1Ved foreign national ommunities a5 they deliver in a region that has seen high numbers of economi¢ migrants which ha5 shifted th¢ demographic and resulted in some difficulties arising from this. An increased focus on education and advocacy work around racial equity. inclusion and diversity has helped to d¢v¢lop cultural literaey in the region and contribute to safer spaees for activities to tske place in. Youth Muslc: In 2025. The Signatur Prograrnme began a new parthership with The National Foundation of Youth Music (Youih Music) in support of their "Rescue the Roots" campaign. The campaign aimed to shine a public spotlight on the grassToots youth music sector, consistingof 5Tnall organisations working with young people, crucial and often forgott¢n area of the music ec05yStem. Signatur's support will contribute to achieving the long-temi campaign aims to stabilise the grassroots youth music sector in 2025 and 2026 by increasing grant making to support those STnall organisations In niost need. Specifically. Signatur has supported eighi Karlsson Jativa Trustee's annual report (continued) Forthe year ended 31 December 2025 new grassroots initiatives in local regions of the UK whieh aim to support children and young people (25 or under) to creatc, explore, and build eareers through an engagement with music. For more infoTmation on the work of the Foundation in the field of mu51¢ in the United Kingdom, pl¢ase visit www.si natur.or Sign8tur Programme Sweden Four grants totalling £712,137 (2024.. four grants totalling £602,031} were made in the field of music under the umbrella of the SignatUT Programm¢ in Sweden during ihe year, Grants totalling £652.383 were made to Signatur Foundation Sweden which in tum has awarded seventeen grants detailed below. In order to reach benefJ¢iaries in Sweden and the Nordic region most effectively. it was ¢oncluded this was best achieved by providing ihe funding to a Swedish charity, that in would be able tts distribute grants and implement projects locally. In April 2018, 'Signatur- Insamlingsstiftelse ftlr musikframjande" (transl. 'Signatur Fundraising Foundation for Advancement of Music hereinafter referr¢d to as 'Signatur Foundation Sweden") was ¢nt¢red into the foundation register of the Stockholm County Administrative Board. Signatur Foundation Sweden has an independent board of direciors responsible for its sirategy and governance and the Foundation has provided grani funding to the charity to be applied for its operations in canying out projects whi¢h are exclusively charitable under the laws of England and Wales. Signatur Found8tlon Sweden has the main publi¢ benefit purpose of promoting, solely or exclusively, a vibrant Swedish and Nordic music life by providing access io broad qualitative music educ61ion and improving the opportunities for the public to enjoy high quality music. In particular, it intends to promote efforts to broaden the base for Swedish and Nordi¢ music life and io further create th¢ Conditions for cultural integration through music. In addition to music, Signatur Foundation Sweden ¢an also support other closely related fornis of performing arts such as dance, ball¢t or theater. The object costs of Signatur Foundation Sw¢d¢n were around £640,000 in 2025 funding 5¢vent¢en grants (2023.. around £525,000 funding fifteen grants).. ALMA.. Signatur Foundation Sweden has supponed the production of "Granslandet Symphonic Festival" since 2018 and contributed to the 2025 edition (awarded in 20241. Following Tradgarden's decision to temiinate its partnership with the festival. the 2025 programme was reworked as a two-part project whilst still focusing on offering a new generation of young listener5 the opportunity to discover classical music. Lilla Granslandet's a¢tivitie5 for children were expanded in collaboration with the Royal Opera during Jarvaveckan. Part tsyo took place in the National Museum after closing with 3 evening ¢on¢erts. Changers Hub.. Signatur Foundation Sw¢den began its support of "The Blueprint" programme. Changers Hub is an estsblished innovation centre operating in Stockholm and Gothenburg that focuses on supporting young people aged 16-29 from 50cio-economically disadvantaged area5. The5¢ young people are often limited to certain music genres such as hip hop and urban music. The Blueprint aims to offer a platfomi ihat challenges these limitations, highlights broader careeropportunities and gives young people the opportunity io explore and establish themselves in different roles within the Swedish music industry. CiTku5 CiTkOr.' after funding the pilot project in 2024, Signatur Foundation Sweden continued its 5UPPOrt for ihe development of the "After School Circus" programme in the Norra Botkyrka municipality of the Stockholm metropolitan area. The programme aim is to contribute to integration, increased security and togethemess a5 well as strengthening the children's self-esteem and ability to collaborate in meaningful leisure time. Pupils at the selected schools receive circus training once a week, plus access to holiday courses. Den A Thdra Operan {'DAO')'. Signatur Foundation Sweden continued to support 'Unboxing FeTn2le Opera" an innovative programme that aims to create a new forniat for opera and its audience. Through a unique combination of concerts, workshops and seminar5 Wlth musicians, DAO invites new audiences into 12 rlsson Jatlva Charit•￿# FoL*)dHtion Trustee's annual report (continued) For the year ended 31 December 2025 the world of opera whil¢ allowing unheard works by female composers to regain their place in the opera repertoire. The project is based on in-depth music research and 15 conducted in close coop¢ration with musicologists, researchers, perfomiers and nationallint¢rnational expert5 with the aim of PTOC¢Ssing and testing the previously unhcard repertoire. Dream Orchestra ('DO'): Signatur Foundation Sweden coniinued to SUPPOrt the orchestra in it5 project 'Dream Orchestra Learning Centre" which aims to dev¢lop a mulii-faceted learning profile to meet the needs of a growing and culturally diverse siudcnt population. With ihe support of ieachers, the young DO leaders learn to lead vocal or full orchestral reh¢arsals in a holistic way and help students d¢velop iheir socio-emotional skills. The leaders also cultivate and exchange important personal. musical, p¢dagogical, and didaciic skills and the learning experience will b¢ documenied in an end of project publication. The programme's ambition is ¢0 promote musical and social inclusion in areas with particular challenges. a5 well as to strengthen teach¢r ¢ompetence and pedagogical 5UPPOrt wiihin the Swedish music educaiion sector. Drotlnlngholm Palace Theatre-. Signatur Foundation Sweden continued its support (award¢d in 2024) of a new ¢hildren's produciion for prirnary school pupils aged 6-10 years ¢niitled "Dream Wallpap¢r- A la Baroque" The projeci invites primary school ¢hildr¢n, particularly from disadvantaged areas to an in-depth cultural ¢xperience with history and music in a unique period setting. A teacher's guide is produced ahead of the s¢hool visits to prepare the pupils for the p¢rfomance. During 2025, three 'soft' perfonnances took place, intended for children with special needs. Eda Kulturskola.. Signatur Foundation Sweden began supporting'music on the Border" a ¢ultural project in Eda Municipality aimed at children and young peopl¢, with the goal of developing music and cultural life in western vaTmland in collaboration with neighbouring Norway. The project bring5 together different cultural expressions such a5 folk musi¢, dance and singing and is run by Eda Cultural School together with Eda Riksteaterforening. Gransfolke and Eidskog Cultural School. Ersta Di#konisallskap'. Signatur Foundation Sweden began ils support for the Healing Music programme. The main aim of the project is to integrate live musi¢ into hospital and care environments to improve the physical and m¢ntal well-bein8 and quality of life of patients with chronic illn¢s5¢5, mental health problems, limited mobility, elderly care or dementia. The iniliative is bosed on a growing body of research demonstrating the positiv¢ impact of music on people's health and well.being, both mentally and physically. The target group includes patients, healthcare staff and relatives, and the project's arnbition is io reduce experiences of isolation, stress and mental illness, and to promote a more humanistic healthcare environment. Fe$t$p¢len I Pltea: For 40 years, residents of Sweden's northernmost county, Norrbotten, have had th¢ opportunity io enjoy high-quality music every summer through the annual festival, which attracts nationally and intemationally renowned artisis and educator5. As part of the festival activiti¢s. Signatur Foundation Sweden provided support for the Pilea Summer Academy and its"Fesispelen- a music festival with a focus on young people and learning programme" The project offers children and young people aged 13-28 the opportunity to meet and receive instruction in masterclasses from a rol¢ model and experienced teach¢r/mu5ician. The 2025 programme focused on mgsterelasses for woodwind and brass instrnments, as well as vocal ¢ours¢s. Folkoper&rt: Signatur Foundation Sweden continued its support of the "Folkoperan Talent Programme" which aims to identify emerging singer5, muSLcians and Conductors in the opera genre and to support and develop their skills io give them a betteT chance of entering the labour market. The programme is unique in that it is aimed at artists from primary schools to university graduates from all over the Nordic region and offers masterclasses, workshops, coaching, m¢ntorin8 and participaiion in Folkoperan's productions. Folkteatern Gavleborg: Signafvr Foundation Sweden continued 5UPPOrting Folkieatem Gavleborg, in collaboration with Scen'.se, to d¢velop their work through the 'Accessible Perforniing Arts in Collaboraiion" programme with Oily Cart Theatre, aimed at children and yOL)ng people with complex disabilities. A new perforniance will bc created in collaboration with SEN educators and families in Sweden and the UK in three forniats-. l) 'at home, using tactile objects and digital material, 2) theatre perforn)an¢¢ 13 Karlsson Jatlva Trustee's annual report (continued) For the year ended 31 December 2025 on tour for special needs schools, 3) art installation in gall¢rt¢s and museums for all visitors. A national centre of excellence is planned to eollaborare wiih associations nationally and internationally to promote perfomiing arts for people with special needs. Fryshuset: Signatur Foundaiion Sweden continued its 5UPPOrt of the"Empower Production" programn]e which aims to enable Tnore young girls and non-binary people from socio-economi¢ally disadvantaged areas to create and produce musie and gain access io a career in music produciion. Th¢ programme is primarily aimed at young people aged 13-19 but also includes older participants. Training in music production and studio technology, digital music creaiion, songwriting and melody creation 15 offered. and participants receive an introduction to the processes of the music industry, with a particular focus on the career paths open to aspiring musi¢ producers, songwriters and artists. IMPRA.. Signatur Foundation Swedcn Continued its suppon of the"IMPRA Jam and Networking Events" prtsgramme which aims io create a mor¢ g¢nd¢r-equal jazz and improvisational music scene by increasin opportunities for womenltransgenderlnon-binAry musicians to work professionally in this sectOT. IMPRA organises lectures on gender awaren¢5s at upper secondary schools and musi¢ schools. arranges networking and workshop evenis for IMPRA memb¢TS, as well as jam session5, con¢crts and a jazz fesiival. Kulturakadernln.. KultUTakad¢min is a non-profii association that ha5 been running the music school in the municipality of Storuman for almost 20 years. It received support from Signatur Foundation Sweden for "Culiurecombo" a programme offering workshop camps for young people aged 9-16 in vasterbotten, where professional artists in theatre. circus, film and musi¢ open the door to a world of ¢r¢ativity. Participants have the opportunity io design the camp's programme, write their own scripts and musi¢, ond plan more t¢choi¢al asp¢¢ts and sigge construction. The organisatitsn follows the community enterprise model, where a social goal is a¢hieved through 8 combinaiion of private, public and non-profit initiatives. Mu$ethlea Sweden.. Signatur Foundaiion Sweden continued its support of the 'Musethi¢a" programme {awarded in 2024} which aims to spread hi¥h.quality ¢la5si¢al music throughout society by perforn)in8 live ¢hamber music concerts for marginalised groups and groups at risk of exclusion, for example in settings su¢h as hospitals. psychiatric institutions, prisons, integration centres, nursing homes and activity eentres for p¢ople with disabilities. Its training programme offer5 talented young musicians the opportunity io play live ¢oncens (which are free of charge) a5 an integral part of their training and helps to ¢ombat social exclusions and isolation in society. ROYAI Academy of Music (UTOM).. Signatur Foundation Sweden continued to support the Unga Tankar om Musik (UTOM's} music innovation programme with the"Musical Role Models" project. Members of UTOM retum to their hometowns to strengthen and inspire grassroots music life around Sweden. UTOM conducts workshops, concerts and educational initiatives lhat ¢rea¢e points of contact betw¢¢n established mu5i¢iarts and local music actors. Stockholrns Stadsmission: th¢ non-profit organisation supports the social and ¢¢onomic integration of people in various fornis of vulnerability, such a5 homelessness, addiction, families living in poverty. adults and the elderly in social or economic hardship. Signatur Foundation Sweden began supporting the music programme Doublemusic which aims to create an inclusive, high-quality and stimulating cultural offering to reach these vulnerable groups through heavily discounted ticke¢ prices, alongside the gen¢ral public. Teater Ine: Signatur Foundaiion Sweden began its support of the Villa Vilse project, a generational project aimed at older people who liv¢ in retirement homes andlor meei in groups for seniors and secondary school students. It aims to show how young and old can socialise. live, create and share experiences together. After collecting young people's dreaTns for the future and older people's views on their dreams throughout life, the plaY￿TIght will oreate a musical theatre show for an audience in Southern Sweden. The Souree.. Signatur Foundation Sweden provided support for"The Source at Jarvayeckan" as part of the Kulturbron initiative at Jarvaveckan's annual event. The Source had its own tent and offered a programme of music, spoken word and dance for children and young people, as well as mentoring. The aim was to 14 Karlswn Jativa Trustee's annual report (continued) For the year ended 31 December 2025 strengthen young people's self-confidence and tal¢nts through practical workshops and perfonnances. and to promote cultural diversity and social cohesion in Jarva. Ung i Kor: Signatur Foundation Sw¢d¢n provided support for its first project based in Norway, "National Youth Choirs in the Nordic Region" Fiv¢ national youth choirs ¢ollaborated in connection with the Nordic hildren's choir festival Norbusang and th¢ #dult choir fesiival Nordklang. The Swedish Youth Choir, the Norwcgian Youth Choir. Ihe Finnish Youth Choir. the Danish Syng Selected and the Norwegian Ryimisk Ungdomskor mei for four intcnsive days of ¢ollfdboration, which r¢sulted in three major ¢onc¢rts and many id¢as for future collaboraiion5. For more infonnation on the work of Signatur Foundation Sweden, please visit www.si natu Ordinarily, grnnts for Swedish music charities are funded by Signatur Foundation Sweden. However, the Foundation made a grant directly to one Swedish non-profit organisation during the financial year: RBU Skane: 'Adapted music sessions for children with disabilities" is a programme designed to provide musi¢ productions for children with spccial nceds in ¢ollaboration with Musik i Syd. Exisiing productions are reworked to meet the needs of the children, )nd the musicians will be coached by a music therapist to adapt their performance. The process will be documented in a training manual ihat can be used by producer5 and musicians throughout the county. The ultimate goal is Lo stsge an opera produ¢tion adapted for the rget group. LACT Programme LACT Programme In earlier financial years, grants in the field of poverty, health and education in Latin America were extended to the Laiin American Children's Trust {'LACT'). then a charity register¢d in England and Wale5, whos¢ charitable objects aligned with the Foundalion's. LACT supported chaTitsbl¢ projects in the Andean region since 2004 wilh long standing relation5hip5 Wlth key charitable organisations operatin¥ in the region. The legal structure of how the LACT Programrne is delivered changed in 2023 with the dissolution of the Latin American Children's Trust. The prograrnme continu¢s to be delivered without change of strategic direction by th¢ Foundation. Prior io dissolution LACT used its reinaining funds, substantially originating from funding in prior years from the Foundation, in support of the following partner programme5 which continued to be implem¢nt¢d during the year.. The Foundation made fifteen grants totalling £986,30912024'. ten 8ranis totslling £711,887) directly to the followin8 LACT Programme partners.. CAFOD.. "The Andes Programme" The LACT Programme has been supporting CAFOD'S work to improve the lives of some of the most marginalis¢d families, children and communitie5 affected by poverty? violence, environmenial degradation and confli¢t in the Andean countries since 2005. Th¢ current phase continues to support vulnerable urban, Nral and indigenou5 communities in Bolivia, Colombia and Peru, proteeting the rights of children, communities and the environment, strengthening resilience to iTnpact5 from climate change and promoting more harnionious relationships with each other and the environtnent. The following local partners of CAFOD are implementing the programme in the region.. Warmi Huasi. DESCO (Centro de Estudios y Promocion de Desarrollo), CIDAP (Centro de Investiga¢iOn, Documentacion y Asesorla Poblacionall. PDPMM (Programa de Desarrollo y Paz del Magdalena Medig), IIADI Ilnstituto de Investigacion y Acci6n para el Desarrollo Sntegrall and CENDA (Centro de Comunica¢iOn y Desarrollo Andino). 15 Karlsson Jativa Charit*• Foundhtion Trustee's annual report (continued) For the year ended 31 Decembor 2025 Children Change Colombia. Preventing sexual and gender-based violence in Bogota, Barranquilla, Santa Marta and Cartagena in Colombia" Since 2018, The LACT Programme has b¢en supporting Children Change Colombia's efforts to defend the rights of some of the m05t at-risk children in the country, ensuring they can grow up in safery. free from violen¢¢, exploiiation, and poverty. The Cu￿ent programme focuse5 on empowering ¢hildren and young people at risk of sexual and gender-based violence in Bogota, Barranquilla, Santa Marta. and Cartagena. Through this initiative, children. young people, and their communities will build the knowledge and skills needed to prevent violence and create protective environm¢nis. The following local partner of Children Change Colombia is implementing the programme in the region.. ACJ (Asociacion Cri5tiana de JOvenes}. Children Change Colombia "Preventing the Recruitment and Use of Children by Criminal and Amed Groups in Colombia" Since 2025, the LACT programme has supported this iniiiative that aims (o prevent the forc¢d recruitment and exploitation of children and young p¢opl¢ {CYPsl and support those already affected through a multidimensional approach. li combines psychosocial support aTid reinlegration for child victims, life skills and livelih(iod training for al-risk youth, and the strengthening of community-ba5¢d protection mechanisms. Special attention is given to th¢ ¢volving digital recruitment strategies, with initiatives focused on digital literacy, caregiver education, and awareness-raising campaigns. The following local partner of Children Change Colombia is implementing the programme in Bogota.. Fundacion CEL4N. Danielle Childrert'$ Fund: 'Community project for the prevention of violen¢e agains1 children and adolescents in Ecuador" Since 2005, Danièlle Children'5 Fund (DCFI ha5 worked in Ecuador io strengthen childcare legislation and implement child proieciion programmes. The LACT ProgTamme began support of the Community Proje¢t for the Prevention of Violence Agains¢ Children and Adol¢s¢ents in Pifo. a three- year initiative launched in January 2024. The programm¢ was co.created with over 100 community rnembers, including childr¢n, odolescents. local leaders, professionals, and organisations. It aims to prevent the nomiali5ation of violence in families. schools, and th¢ broader community. Through this initiative, DCF promotes preventiv¢ and altemative care within local Communities. EMpow¢r: "Empowerin8 Marginali5ed Youth in Cali, Colombia" Sin¢e 2025, the LACT programme has SUPPOrt¢d this initiative that aims to empower mar8inalised young people lage$ 14-18) in Cali, Colombia to improve their academic perforniance, life skills, and overall well-being. Empower implement5 this initiative through a partnership with Fundacion Ser para Ser ISOROCA), established in 2017 with a mission to empower marginalised young people in their last three years of high school to improve their lives. They achieve this throu8h high-quality education support, with a particular focus on developing core life skill5. Lumos: 'Partnering for Change Acros$ Colombia" This initiative has bccn part of the LACT Pro8ramme since 2020 and aims to achieve 5yStemi¢ change by influencing and working with local partn¢rs to model scalable refornis ihat ensure children can grow up in safe and loving families, not institutions. Lumos partners with a growing network of civil society organisations and service providers, many of whi¢h are transitioning from residential institutions into community-based family 5UPPOrt services. With 5UPPOrt from Lumos and the LACT Programme, partners Fundacion Michln and Funda¢iOn Casa La Chinca hav¢ progressed in their transitions to provide services that prevent family separation and reinteg￿rate children into family-based care alternatives. Plan Internatlonal UK.. 'Promoting the health and rights of young people in Manabl, Ecuador" Plan's work to improve adolescent s¢xual health education and rights in Ecuador has been part of the LACT Programme since 2016. Thi5 next phase of the programme aims to reduce early and forced marria¥es. unwanted and uniniended adolescent pregnancy and gender-based violence in fourteen rural communities in the province of Manabl. The PToje¢t's strategy centres around the creation ofyouth clubs to bring together young women and men to leam about their sexual and reproductive h¢alth and rights, address hamiful practice5 and other fornis of gender-based violence, share their experien¢¢5 and mobilise to advocate for their rights. Plan International UK: "Building for the ￿tUre with young women in Bolivia" Since 2021, the LACT Programme has supported Plan International's efforts to empow¢r youn8 indigenous women in the Bolivian highlands. The current three-year phase focuses on promoting the social and economic empowement of 16 Karlsson Jativa Charit￿* Trustee's annual report (continued) Forthe year ended 31 Decornber 2025 indig¢nou% adolescents and young women in Betsnzos. The programme strengthens entrepreneurial and feminist leadership skills while challenging cultural and Social noms that limit their opportunities. By enhancing technical and entrcpr¢p¢uriAI capabiliiies, it aims to expand access to economic oppominities. Participants are equipped with the tools needed io launch and sustain their own bu5in¢ss veniures. The following local partner Plan Bolivia 15 implementing the programrn¢.. PRODECO (Proyecto de desarrollo comuDitario). Sense International.. 'Improving inclusive education.. promoting ihe rights of people with deafi)lindne58 and multiple disabiliti¢s in Peru and Ecuador" The LACT Programme has been supporting Sense Inrernaiional's efforts to strengthen inclusive education in underserved regions of Peru since 2015. The programme focus¢5 on enhancing the skills of professionals in both special and mainstream education settings. Sense International Peru works closely wilh the Ministry of Education and regional authorities to remove barriers to education for Children with dealblindness and muliiple disabilities. Sense Peru is working with Fundacion Hemiano Migu¢l as the local implementing pyrtner in Ecuador. Teach for All Network. Providing support to Ensefia por Colombia, Ensefla E¢uador, Ensefla por Bolivia and the Tea¢h for All global organisation's partner support" The LACT ProgramTn¢ is providing support to Teach for All's mission to expand educaiional opportunities for children in the Latin America region. The core progrdmme includes recruiting and supporting young local graduates who will spend at least two years teaching in marginalised communities. In addition to local knowledge sharing, th¢ contribution to public poli¢y discussions helps the developrnent of ¢ffc¢tiv¢ t¢oching and learning over the wider region's education e¢osys(em. War Chlld: 'Resilient Future5'. Artistic Interventions and Psychosocial Healing for Children Affected by Conflict" Since 2025, the LACT PTogramme has supported this initiative that aims to strengthen social ¢ohesion and build local and instituiional capacity to better support children and adol¢s¢ents impacted by conflict in Mocoi Putumayo, Colombia. Working in partnership with Makikuna, a local organisation, War Child applies a three.part approach.. cultUTally responsive, community- and family-based support,. evidence- based mental health and psychosocial int¢rventions,' and systems strengthening through capaciry building and collaboration across government, civil so¢iety, and youih-led initiatives. World Vision: "Youth Green.. Ensuring sustainable futures for young peopl¢ in Ecuador" Since 201 O, the LACT Programme ha5 been sUPPOrting World Vision's work to help the most vulnerable children oYercom¢ poverty in the Andes. The current programm¢ focuses on empowering E¢uadorian youth in the Napo region by promoting sustainable economic inclusion and environmental management. The initiative aims to enhance psychosocial well-being, develop entrepreneurial skills, and incr¢ase youth participation in siisiainable biisine5s activitie5. By eqiiipping young people with the tools to build economic resilience and environmental awarenes5, the progTamme fosters long-iemi opportunitie$ for growth and sustainability within their communitie5. For more infortnation on the work of the LACT Programme, please visit www.I KJCF Quest Fellowships The Foundation launched a new programme during the year to seek university partners to host research fellowships that will look at preventing, treating or managing multiple long-temi conditions, where one ondition 15 brain-related. The KJCF Quest Fellowships in Brain Health and Multimorbidity will support talented early to mid-career research fellows to build su¢ce55ful atjd sustainable careers, encourage people lo look at brain health more holistically and fund innovative health research. The Foundation's partner universlties King's College London, University College London and University of Edinburgh will recruit fellows to start their posts in 2026. Further new programmes ar¢ planned for the coming year5. 17 Karlsson Jatlva CharitoU• F¢￿Thda￿jfb Trustee's annual report (continued) Forthe year ended 31 December 2025 Grant Making Pro¢e88 Each programme is managed by a dedicated Programm¢ Manager who, reports to the Trustee. The PrograTnme Managers and the Head of Major Grants. iogether with the Foundation Administrator, 5erv¢ as the main contaeis for panner organisations. In addition to handling the grant cycles, a key function of theirs is to be activ¢ participants in respective sectors and io create network el'fects among partner organisations. The Foundation is not operating a scheduled applicaiion process, rather searches for new partnerships through its variou5 contact points in respective 5¢¢t(Trrs. Grants are made and monitored in aecordance with the Grant Making Policy and other procedures adopted by the Tjustee. The Tru5tcc hAs delegated auihority to th¢ Signaiur and LACT Boards io make grants and approve their ierms and conditions. The delegated authority is subject to cenain limitations, conditions and thresholds and is reviewed annually by the Trusiee. Project5 are selected on the basi5 that they are specific with well-defined budgets, implementation plans and targ¢ts, with emphasis on projects that are likely to have a long-lasting impact aDd ihat are in accordance with th¢ objeeiives of the Foundation. The conditions will vary depending on th¢ individual eircumsiances and th¢ recipient, with the intention that ihey are Sufficient in each case to satisfy the respective programme board and the TNstee that the funds will be applied for the puryoses foT whi¢h they were given. Onward grants made by Signatur Foundaiion Sweden are made in accordance with it5 grant making procedures which contain similar provisions io those of the Foundation. The Trustee will identify the project to be funded by the grani or identify thal the 8ront is expendable for the grantee'5 g¢neral charitable purposes. It will also require acknowledgement of the grani and seek evidence from grantee organisations that ihey have in place satisfactory safeguarding policies consistent with the Foundation's own Safeguarding Policy. Financial Review Incomirtg resources of the Foundation comprised donations, inve5tm¢nt and interest income. The Foundation received substantial contributions in the forni of expendable ¢ndowmenl in 2017, 2018, 2023, 2024 and 2025. The grants provide that the Trustee shall apply the income derived from the expendable endowment io such pujposes within its charitable objects as it may detemiine and may, at its discrction, decide ih8t all or any part of it may be expended on such purposes. However, despite the fact that the whole of the exp¢ndable endowment may be expended by the Trustee. it was the Settlor's wish that it be inv¢5t¢d to produ¢e in¢ome on a lon8-temi basis for charitable expenditure for the publi¢ ben¢fii. The Foundation's resources and capabilities have evolved since its fom)ation including r¢crnitment of Finance team comprising the Finance Director and, in early 2025, a Finance Manager. In the financial year the Foundation received a si8nifJcant grant increasing investable assets by approximately 36Q/o. This evolution ha5 necessitated a ¢ontinued focus on the investment strategy of the Foundation. Following the fomiation of the Foundation, the Trust¢¢ appointed a single investment manager to manage the investmcnt portfolio of the expendable endowm¢nt, Goldman Sachs International. With the receipt of additional funds in 2023, the kn￿stee considered it prudent to engage a broad¢r set of investment managers and funds in order to diversify operational and mark¢t risks and also to enable a more efficieni control of investment management expenses related to specific a55¢t ¢la5s mandates. At the end of 2023, the Goldrnan Sach5 mandate was restructured into separate equity and fixed income mandates. In addition io the discretionary mandates awarded. direct fuDd investments were made in absolute return {Lexcor Feeder Fund in March 2024) 2nd privaie credit (Apollo Debt Solutions BDC in May 2024) strategies custodied with SEI Investment (Europe) Limited. The significant addiiion in 2024 to the expendable endowment wa5 inilially allocated to the Goldman Sach5 mandates and to cash and money market funds. Subsequently funds were also added to a mandate with Brown Advisory. A fvrth¢r donation was received in early 2025. After a comprehensive pro¢e55, Barclays Bank plc was awarded a discretionary equities mandate and the equities mandate at Goldman Sachs was restructured to provid¢ exposure to two global equities strategie5. Further, additional funds were added to the Brown 18 Karlsson Jativa Ch*itabl• Foun&tion Trustee's annual report (continued) Forthe yoar onded 31 December 2025 Advisory mandate. Under a discretionary martdate with Partrt¢rs Capital, dir¢¢t inv¢stmeDts were made in absolut¢ return (Partners Capital Harrier Fund IC) Ltd in August 2025), private equity (PCAAM Private Equity Fund in August 2025) and private cr¢dit {Partners Capital Phoenix Fund 11 Ltd) in October 2025). In addition to the Goldman Sachs dis¢r¢tionary mandates, a direct fund investment was made into private cquity (Goldman Sachs Alternatives SICA V - G- Private ￿quity (Lux) in July 2025}. The Trnsiee has reviewed the perfomiance of the investment portfolio and noted it achieved a retum of 3.5 /0 in 2025 (time weighted rcturn as measured in GBP) vs the annual observation of 2.40/0 of the Investment Objective (see Investment Policy section below for definition., 6.50/0 in 2024 vs 6.80/0). The returns of each external mandate and directly invested fund are measured against separaiely specified benchmarks by relevAnt asset class. At year end, assets were invested in global equity (41'/0) and fixed income markets (240/0), Cash and money maTkets (13¢/0) as well as alternative and other investments (22 /0). wilh assets held in US dollars (630/0), British pounds {27Q/è) and euros I IOO/D). Total income, including donation5, for the year iotalled £47,829,264 (2024.. £101.493,537) and total expenditure for the year totalled £3,733,252 (2024.. £2,733,282) of whi¢h £3,061,468 (2024.. £2,481,158) was expenditure on charitable activities. Th¢ Foundation's funds increased to £211,156,066 as at 31 December 2025 from £162.494.984 as at 31 Decemb¢r 2024, which comprises the net income before gains and losses of £44,096,012 12024.. £98.760,255) togcther with the nei gain on investments of £6,536,143 12024.. £1.948,229) and foreign exchange loss of £1,971,073 (2024.. gain of £2.067,735}. Re8erve8 Polley In adopting its Reserves Poli¢y, the Trustee has considered the level of urtrestricted income likely to arise from the expendable endowment and its power to convert inv¢stments held in the expendable endowment fund, if necessary, inio income. It has also consid¢red its grant-making intentions and obligaiion5 and the impact on grantee organisation$ if any funding obligations were not io be met. For 5pe¢ifi¢ grants expected to materialise in the iinmediate future (within th¢ next three months}, the Trustee may choose to designate a part of the unrestricted funds to cover thos¢ wnount5 as design8ted funds. The TnJ5tee has reviewed the Foundation's operating eosts and the risks to which the Foundation is exp05¢d, particularly with regard to its investment portfolio. The Reserves Policy was reviewed during 2025, and taking these factors into a¢¢ount, it 15 the Trustee's poli¢y to retain, out of the Foundation's unrestricted income, £350,000 in r¢serves which is deerned sufficient for immediate outlays (other than those with respect to d¢signated funds, if any). This is an increase from £250,000 in the prior year in recognition of th¢ boundation's larger expense base. As at 31 December 2025, the Foundation has unrestricted funds of £3,607,543 {2024.' £1,685,521) and the designated funds were £2,115,118 (2024.. £837,594). Consequently, the reserves as at 31 December 2025 amounted to £1,492,425 (2024.. £847.927). Investment Policy The ultimate investment obj¢¢tive of the Foundation is to enable it lo fund charitable projects in the UK and elsewhere, where the r¢al funding value is maintained through time. Triangulating the current annual granf budgei {£4m). size of expendable endowment (£207m) and anticipated investment income (£5.Om), it is appropriate for the Trustee to have a long-tem investment horizon. Thi5 allows the Trustee to consider invesiments, such as private equity, with in excess of ten years duration. However, it is an ambition of the Trusiee that over time the annual grant budget will increase in real ternis, making it prudent for the majoriry of the portfolio to be managed to a shorter time horizon of five years. The Trust¢e ha5 adopted a long-tem) portfolio return objective of inflation + 3D/D {the 'lnv¢stment Objective"), measured in equal proportions of US and UK inflation indicators and for reporting purposes expressed in GBP. The Trustee aims to achieve its Investment Objective by reviewing, selecting and ongoing evaluating a range of discretionary inv¢stm¢nt managers and investment funds in line with the deierniined ass¢1 allocation. The selection 15 conducted asset class by asset class. 19 Karlsson Jativa Trustee's annual report (continued) Forthe year ended 31 December 2025 The Tnjstee. assisted by th¢ Finance Committee, will d¢t¢rtnine the appropriate asset allocation from time to time depending on market circumstances and short, mid and long-tern) needs with the ultimat¢ objective of enhancing the Foundation's ability to fulfil its objects. The I rustee is mindful of the fact that beneficiaries are located aeross many countries and the real value of grants from the Foundation will be subject to currency fluctuations. With the ultimate beneficiaries expected lo be based in Sweden, the UK and in Latin America and tonsidering the cost effectiveness, liquidity considerations and investment prdCti¢alities for investing in Swedish krona or various Latin American currencies, and in particular th¢ long-tem) horizon of ihe endowment fund's investment portfolio. the Trustee considers li reasonable to mainiain exposure to a diversified broad global currency mix without a detailed ambition ro match Currency exposure of the current set of beneficiary programmes. individual mandates or invesimenis are dcnominated and measured against a defined base currency (GBP, USD or EUR). The Trustee monitors th¢ overall currency mix on an overall portfolio basi5, A5 at the year end. all investments and money mark¢t funds are held in custody by Goldman Sachs International. SEI Inv¢stments (Europe) Limited, Si8t¢ Street Bank and Trust Co and Brown Brother5 Ha￿lMan & Co. Statement to disclosure of informatlon to Auditors In so far as th¢ Dire¢tors of KJCF Trustees are aware.. There is no relevant audit inforniation of which the Foundation's audiior is unaware,. and The Trustee has tsken all Steps that it ought io have taken to make itself aware of any relevant audit inforniation and to establish that the auditor is aware of that inforniation. Audltors Rawlin50n & Hunter Audit LLP offers itself for reappointment as auditor in accordanee with th¢ Charities Act2011. For and on bebAlf of KJCF Trustees, Trustee of The Karlsson Jaiiva Charitable Foundation Erland Karlsson, Director of KJCF Trustees 2026 20 Karlsson Jatlva chw1ta￿• Foundation Trustee's responsibilities statement For the year ended 31 De¢ember 2025 Th¢ Trustee 15 responsible for preparing the Trustee's Annual Report and the finaneial stst¢Tn¢nts in accordance with applicable law, th¢ Charities Act 201 l and where relevant. th¢ Charities Act 2022 and the Statement of Recommended Practice.. Accounting and Reporting by Charities preparing their accounts in accordance with the Finan¢ial Reporting Standard applicable in th¢ UK and Republic of Ireland IFRS102) issued in Ociober 2019. The law applicable to charities in England and Wale5 requires ihe Trustee to prepare financial statements for each financial year which give a true and fair view of th¢ State of affairs of the Foundaiion ai the end of the year and of its incoming resources and hpplication of resources during thai year. In preparing the financial statements, the Trusiee should follow best practice and is required to.. Select suitable o¢¢ounting policies and then apply them consistently., Observe the methods and principles in the Charities SORP 2019 (FRS 102). Make judgements and estimates that are reasonable and prudent,. State whether appli¢able UK Accounting Standards have been followed. subject io any material departures diselosed and explained in the finan¢ial statements; and Prepare the financial statements on the going coneem basis, unle55 it 15 inappropriate to presume ihe Foundation will continue in opeTation. The Trustee is responsible for keeping proper accounting records which disclos¢ with reasonable accuracy at any time the finan¢ial position of the Foundation and which enable it to ensure that the financial statements comply with the Charities A¢t 2011 and where relevant. the Charitie5 Act 2022 and the provisions of the Trust Deed. The Trust¢e is responsible for safeguarding the a$5¢ts of the Foundation and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. The Trustee 15 responsible for the maintenance and inie8rity of the Corporate and financial infomiation included on the Charity's website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from l¢gi51ation in other jurisdictions. 21 Karlsson Jativa Charitablè Foundation Independent auditor's report to the Trustee of The Karlsson Jativa Charitable Foundation Opinion We have audited the financial statements of The Karlsson Jativa Charitable Foundation ("the Foundation") for the year ended 31 D¢cember 2025 which comprise the Statement of Financial A¢tivities, th¢ Statement of Financial Position, the Statement Cash Flows and the related notes I to 13. The financial reporting framework that has been applied in their preparation is applicable law and united Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Pra¢ti¢el, including FRS 102 'The Financial Reporting standard applicable in the UK and Republic of Ireland" In our opinion the financial statements.. give a true and fair view of the state of the Foundation's affAirs as at 31 December 2025 and of its incoming resource5 and application of resources, for th¢ y¢ar then eDded. have been properly prepared in accordan¢e wi¢h United Kingdom Generally Accepted Accounting Practic¢', and have been prepared in accordance wi¢h the requirements of the ChaTitie5 Act 201 I, and where relevant Ihe Charities Act 2022. B4$is for opinion We ¢ondu¢ted our audit in accordan¢¢ with International Standards on Auditing (UK) IISAS IUKII and appli¢able law. Our responsibilits¢s under those standards are further d¢s¢ribed in the Auditor's responsibilities for the audit of the financial statements section of our r¢port below. We are independent of the Foundation in accordance with the eihical requirements that are relevant to our audit of the financial statements in the UK. including the FRC'S Ethical Standard. and we have fulfilled our other ethical re$ponsibilities in accordance wi¢h these requirements. We believe that the audit evidence w¢ have obtained 15 Sufficient and appropriate to provide a basis for our opinion. Conclusions relating to golng coneerD In auditing ihe financial statements, we have concluded that the Trnst¢e'5 use of the going concern basis of accounting in the preparation of the fmancial statements is appropriate. Based on the work we have perfornied, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the Foundation's ability to continue as a goin8 concern for a period of at least twelve months from when the financial statements are authorised for issue. Our responsibilities and the responsibilities of the Trustee with respect to going concern are described in the relevant sections of this report. 22 Karlsson Jatlva Charitabl• Foundatkin Independent auditor's report (continued) to the Trustee of The Karlsson Jatlva Charitsble Foundation Other information The other inforniation compris¢$ the inforniation included in the Report and Accounts set out on pages 4 to 20 and the Trustee's responsibilities statement on page 21. Th¢ Trustee is responsible for the other inforniation contained within the TNstee's annual report and financial statements. Our opinion on the financial Statements does not eov¢r th¢ other infom)ation and we do not ¢xpre55 any forni of assurance conclusion thereon. In connection with our audit of the financial staiements. our responsibility 15 to read the other infomiation and, in doing so, consider wheth¢r the other infomiation is mat¢rially inconsistent with the finan¢ial statements, or our knowledge obtained in the audit or otherwise appears to be materially missiated. If we identify su¢h material inconsisten¢ies or apparent material misstatements, we are required to deiem)ine whether th¢re is a material misstatement in the financial statements or a material misstsiement of th¢ other inforrnation. If, based on th¢ work wc have perfomied, we ¢onclude that ihere is a material misstatement of th¢ other infonnaiion. we are required to report that fa¢t. We have no¢hing to report in this regard. Matters on which we are required to report by exeeption We have nothing to report in Tespeci of the following matters where the Charities (Accounts and Reports) Regulations 2008 require us to report to you if, in our opinion.. the infomiation given in the Trustee's Annual Report is inconsistent in any material respect with the financial statements,. or suffi¢ient accounting records have not been kepi., or the financial ststemenis are not in Y48reement with th¢ accounting records and returns, or we have not received all the infomiation and explanation5 we require for our audit. Responsibilities of the Trustee As explained more fully in the Trnstee'5 responsibilities statement set out on page 20 the Trusttt is responsible for the preparation of the financial statements and for being satisfied that they giv¢ a tNe and fair view. and for such internal control as the Trustee deterniines is necessary to enable the preparation of rinancial statement5 that are free from material missiatement, whether due to fraud or error. In preparing the financial statements, the Trustee 15 responsible for assessing the Foundation's ability to Continue as a going ¢on¢ern, disclosing, as applicable, matters related to going concem and using the going concern basis of accounting unless management either intends to liquidate the Foundation or to cease operations, or ha5 no realistic alternative but to do so. Audilor's responsibilities for the audlt of the financial statements We have been appointed as auditor under section 144 of the Charities Act 2011 and report in ac¢ordance with regulations made under section 154 of that Act. Our objectives are to obtain reasonable assurance about whether the financial statements ar¢ free from Tnaterial 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 23 Karlsson Jativa Independent auditor's report (continued) to the Trustee of The Kar15son Jativa Charitable Foundation accordance with ISAS (UK) will always detect a material misstatement when li exisis. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they tould reasonably be expected to influence the economic decisions of users taken based on thes¢ finan¢ial statements. I￿egularitIes. including fraud, are instance5 of non-compliance with laws and regulations. We design procedures in line with our re5pon5ibilities, outlined above. to delect material misstatements in respect of irregulariiies, including fraud. Our assessment of the susceptibility of the entity's financial Sta￿ment to material misstatement, including how fraud might occur, is ¢onsidered to be low. This conclusion was rea¢h¢d for th¢ reasons outlined below.. due to the relatively simple business model and low volume of iransactions within th¢ Trust, ther¢ are comparatively few unexpe¢ted fluctuations in the reported results and balan¢es and any such unexpected items would be 5p¢cifically enquired inio by us., and there are a number of individuals who comprise "manag¢ment" and therefore, there is no single individual who is likely to be able to ov¢rride ¢ontro15 to effect a fraud. We ascertained the most significant legislation was the Charities Act 2011 and where Televant the Charities A¢t 2022, money laundering legislation, health and safety and employment law. The extent ofcomplianee with these law5 and regulations was a55essed as part of our procedures on the related financial statement it¢m5 by.. enquiry of management to understand where there was susceptibility to fraud and whether they have the knowledge of any actual suspected or illegal fraud. enquiry of management to identify any instances of non.compli8nce with laws and r¢gulation$; and onsiderdtion of the controls that the Trust has established to address risks identified. or that othetwise prevent, deter ond dete¢t fraud, and how management monitors those control5. W¢ designed our audit procedures to respond io identified audit risks, including non-compliance with laws #nd regulations (l￿eSular1tieS) that are maierial to the financial statements. Some of the specific procedures perfomied to detect irregularities, in¢luding fraud, are detailed below.. the review of control accounts and joumal entries for large, unusual or unauthorised entries,. the analytical review of the detailed statement of financial activities for variances that are either unexpected or ¢on5idered not to be in a¢¢ordanc¢ with our understanding of the Thisi activities during the year; obtaining and reviewing for completen¢ss a list of entities and persons considered to be r¢lat¢d parties (as defined by Financial Reporting Standard 102} and reviewing the ledgers of the Trust for previously unreported re12ted party transaction5; and review of trdn5actions and journals for any indication of fraud, management override or bia5. Because of the inherent limitstions of an audiL there is a risk that we will not detect all irregularities. including those leading to a material misstatement in the financial statements or non-compliance with regulation. This risk increase5 the more that compliance with a law or regulation is removed from th¢ events and trdnsactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance. The risk is also greater regarding irregul8ritie5 occurring due to fraud rather than em)r, as fraud involves intentional con¢ealmenL forgery, collusion, omission or misrepresentation. A further description of our responsibilities for the audit of the financial statements is located on the Finan¢ial Reponing Council's webslte at https.'Ilwww.frc.org.uklauditorsrespon5ibilities. This description fornis part of our auditor's reEx)rt. 24 Karlsson Jativa Independent auditor's report (continued) to tho Trustee of The Karlsson Jativa Charitable Foundation Use of our report This report is made solely to the Trustee, in accordance with Part 4 of the Charitie5 (Accounts and Reports) Regulations 2008. Our audit work has been undertaken so that w¢ might state to the Trusiee those matters we are required to state to it in an auditors, report and for no other pury)ose. To ihe fullest extent pernjitted by law, we do not accept or assume responsibility to anyon¢ other than the Foundaiion and its Trustee, for our audit work, for this report, or for the opinions we have fornied. Rawlinson & Hunter Audit LLP, Ststutory Auditor London Date.. 21 July 2026 Rawlinson & Hunter Audit LLP is eligible to act as an Ruditor in ternis of se¢tion 1212 of the Cornpanies Act 2006 25 Karlsson Jativa Ch•vitsbl* Foun&twJn Statement of financial activities Forthe yoar onded 31 December 2025 Unrestricled fynds Expendable endoivment 2025 Toial I￿ndS 2024 foial fund¥ Notes Income Donations Investment income Interest on cash and money market funds Toi&l Ihcome 5,946 3,379,713 42.815,999 42,821,945 3,379,713 98,731,767 1,726,169 1627,606 5 013 265 1,627 606 47.829,264 1035 601 101,493,537 42 815 999 Eypelldllures Cosis ofraisinxfunds.. Invesimeni management fee 12,014 659,770 671,784 252,124 Expendilures on charilable aeiivilies.. Sign8tur Programme LACT Programme Total ￿Pen￿lI￿re 1,810,566 1250 902 3 073 482 1.810,566 1.250,902 3 733 252 1,643,419 837,739 2 733 282 059 770 Nei Income beftsre84lns tTnd losses 1,939,783 42,156,229 44,096,012 98,760,255 Net gains on revaluation of investments Nei Incomefor ilieyear 6 536 143 48,692,372 6.536 143 50,632,155 1948 229 100.708,484 1,939,783 rrallsJer b¢Neenfunds Foreign ex¢honge gain￿(10s$eS> Nel movemeni lllfunds 1953 312 46,739,060 1971073 48,661,082 2 067735 102,776,219 1,922,022 Fund bulancu broughi forward Fund balances carrled forward 1685 521 160 809 463 162 494 984 59 718 765 3 607 543 207 548 523 211 156066 162,494,984 All income and expenditure derive from continuing activities. The statement of financial aciivities include5 all gains and losses recognised in the year. The notes I to 13 on pages 29 to 38 fomi an int¢gral part of these financial statements. 26 Karlsson Jativa Charitablg Foundatlts Statement of financial position For the year ended 31 December 2025 2025 2024 Noies Fl¥ed&￿e¢S Tangible fixed assets Investments 17,647 179 819 166 179,836,813 9,067 120.367,628 120.376,695 Currenl assets Debtors Cagh and money market funds 1,043,550 30,481,872 31,525.422 819,527 41478,317 42.297,844 Llabllliles Creditors.. amounts falling due within one year 206 169 179535 Nel current 14Mets 31319253 42 118289 Nel assets 211 156 066 162 494 984 Repre5enting'. Thefunds of ilie churlty Expendable endowment Unrestricted income fund 207,548,523 3 607 543 160,809,463 1685521 Toi41 chqrltyfunds 10 211 156066 162 494 984 The Financial Statements on pages 26 to 38 were approved and authorised for issue by the Trustee at the meeting of the Board of Directors of KJCF Trustees on 20 July 2026 and weTe signed on behalf of the Trustee by.. Erland Karlsson, Director of KJCF Trustees The notes on pages 29 to 38 fom) art integral part of these financial statement$. 27 Karlsson Jativa Ch•ritsbl• Foun&tK Statement of cash flows For the year ended 31 December 2025 2025 2024 Casliflowsfrom opernilng 4¢ilvlileJ Net movement in funds Adjuslmentsfor,. Interest and dividend income from investments Interest from CAsh and Money rnarkei funds Gains on investments Foreign exchange lossesl{gains) Depreciation of tangible fixed assets Increase in debigrs In¢r¢ase in creditors 48,661.082 102,776,219 (3.379,713) (1,627,606) (6,536,144) 1,971,073 ,102 (224,023) 26,614 (1.726,169) (1,035,601) (1.948,229) (2,067,735) 2,189 {415,638) 65,008 Cos11 geNer141edln operatln¥ acilvliles 38 899 385 95 650 044 Cushflowsfrom Invesilmg tseilvltles Interest and dividend income from investments Interest from cash and money market funds Purchase of iangible fixed assets Purchase of investments Proceeds from sale of investments 3.379,713 1.627,606 (16.682) (109,645,983) 56,730,589 1,726.169 1,035.601 (9,378) (108,643,472) 14,117,048 Cash usedfrom Invesllng 4cilvliles 47924 757 91774032 Change In ettsh und cash e4ulwulenls In iheyear (9,025.372) 3,876,012 Cash cash equlvaleni &1 ihe beglnnlng ofiheyear 41,478,317 35,534,570 Change in cash and cash equivalent due to exchange rate movements {1,971,073) 2,067,735 Cash and cash equlvttlÉnl ui ihe endoflheyellr 30481872 41478317 Anftfjysis of cash alld cash equlvtsletsts Money market funds Cash in brokerage accounts Cash at bank 28,484,387 1,940,698 56.787 40,055,946 1,381,878 40,493 Total c￿h tsnd e&sh equlwlents 30481872 41478317 The notes on pages 29 to 38 forni an integral part of these financial statements. 28 Karlsson Jativa Notes to the financial statements For the year ended 31 December 2025 Accountlng policies The principal accounting policies adopted, judgem¢nts and key sources of estimation uncertainty in the preparation of the financial stsiements Ar¢ as follow5.. 818asl$ of proparatlon and as8e88ment of golng concern The financial statements hav¢ been PTepared on a going concern basis under the historical ¢ost convention with items recognised at cost or transaction value unless othenvise stsied in th¢ relevant note{s) to thes¢ rinancial statements. The financial statemenis have been prepared in accordance with the Ch8riti¢s A¢1 201 I, and where relevanl the Charities Act 2022, gnd with the Siatement of Recommended Practic¢.. A¢¢ounting and Reporting by Charitie5 preparing iheir accounts in accordance with the Financial Reporting St&ndord applicable in the UK and Republic of Ireland {FRS 102) issued in October 2019. The Karlsson Jaiiva Charitable Foundation {"the Foundation") meets ihe definition of a public benefit entity under FRS 102. The Trustee considers that ther¢ are no maierial uncertainties surrounding th¢ Foundation's ability to continue a5 a going concern. As not¢d in the Trustee's annual report, the target of the Foundation is to have reserves of £350,000. As 81 31 December 2025 the unrestricted funds of the Foundation were £3,607,543 (2024.. £1,685,521 l and the designated funds W¢Te £2,115,118 {2024'. £837,594). Cons¢qu¢ntly, the reserves as at 31 December 2025 amounted to £1,492,425 (2024.. £847,927) which is in ex¢¢ss of the target, and hence the Trustee eonsiders the going basis io r¢main appropriate. With respe¢t ¢0 ¢he next reporting period, the most Significant area of uncertainty that affe¢ts the reserves of the Foundation 15 the performance of investment markets which will deiemiine the earrying value of the investments held by the Foundation. The significance of fixed asset investments to the ongoing financial sustainability of the Foundation is considered in the financial review, principal risks and investment policy sections of the Trustee's annual report. bl Income f•¢ognltlon All income is recognised in the Statement of Financial A¢tivitie5 when the Foundation is legally entitled to the income. it is probable that the income will be re¢¢ived, and the amount of income can be quantified with reasonable accuracy. Income from donations is included when any condition5 for receipt have been met and there is reasonable assurance of receipt which is usually when the Foundation ha5 control over the income. Investment income is included when receivable and the amount can be measured reliably which is usually upon notification to the Foundation from the investment manager. cl Expondlture recognitlon Liabilities are recogni5ed as expenditure a5 500n as there is a legal or constructive obligation committing the Foundation to that expendiiure, it is probable that settlement will be required, and th¢ amount of the obligation can be measured reliably. All expenditure is accounted for on an accruals basis. All ¢xpen5¢s. including grants provided in support of the objects of the Foundation, overhead expens¢s and governance costs, are allocated or apportioned to applicable expenditure headings. Refer to not¢ (d) below for more inforniation on this attribution. 29 Karlsson Jativa Char5table Fcuxlatlo Notes to the financial statements (continued) For tho year ended 31 De¢¢mber 2025 1. Accounting policles Icontinuedl cl Expenditure recognition Icontlnued} Grants provided in support of the objects of the Foundation are payments made to insiitutions whi¢h are partner organisatitsns of the Foundation. Single or multi-year grants are a¢¢ountcd for when eith¢r the recipient has a reasonable expectaiion (hai they will reeeive a grant and th¢ Trustee has agreed to pay the grant without condition, or the recipient has a reasonable expectation that they will receiv¢ a grant aDd any condi(ion attaching to the grant is outside the control of the Foundation. Overhead expenses relate to the f¢es Chargeable by the investment managers. Governance ¢05ts comprise all costs involving the public accountability of the Foundation and its compliance with regulation and good practice. These costs include costs related to staff, r¢nL administration, staiutory audit and legal f¢es. dl Allocatlon and apportlonmgnt of expenses Overh¢ad expenses have been allo¢ated to costs of raising funds. Grants provided in support of the objects of ihe Foundation have been allocated to expenditure on charitabl¢ activities. Choritable activities comprise lh¢ project5 operated by the partner organisations of the Foundation and are caie8orised by ￿tivity, as detsiled in note 4. Governan¢¢ costs have been apportioned over the appropriate caie8ori¢s, as detailed in note 4, on the basis of the number of individual grant awards made in recogniiion that the administrative costs of assessing* awarding and monitoring each grant is broadly equival¢nt. •) Irr•¢ovorable VAT ITrecoverable V AT is Charged as a cost against the a¢tivity for which the expenditure was incurred. fj Charltable actlvltlfr8 Cost$ of charitable activities include grants provided in support of ihe object5 of the Foundation and governance costs. The allocation to activity of 8rants paid and the apportionment between activities of governance costs incurred is detailed in note 4. gl Flnanclal Instruments Investments are initially recogni5ed at their transaetion value and subsequently meosured at fair value as ai the Staiement of Financial Position date using the closing qUQt¢d market price and closing NA V for funds. The Statement of Financial Activities includ¢s the net gains and losses arising on revaluation and disposals throughout the financial year. The Foundation does not a¢quir¢ derivatives or other complex financial instrnments. Cash ai bank and in hand is held to Tn¢et 5hort-tern) cash commitments as they fall due rather than for investment PUTposes and include5 all cash equivalents held in the form of $hort-terni highly liquid investments such as high grade daily liquidity money market funds. 30 Karlsson Jatlva ChDritabl• FoundatK Notes to the financial statements (continued) For the year ended 31 December 2025 1. Accounting pollcles (continuéd) hl Invostmènt gains and Iossos Gains and losses are realised when investments are sold. Investments are fair valued prior to sal¢. Unrealised gains and Ios5e5 are calculated as the differenee between the fair value at the y¢ar end and their carrying value. 11 Tanglble flxed a88•ts Tangible fixed assets are ststed at hisiorical cost le55 accumulated depreciation and any accurnulated impairnient losses. Depreciation is ¢harged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method. Depreciation is provided on the following basis: Computer equipment- 3 years straight line Leasehold improvements- over ierni of lease 11 Provl8lon8 Provisions for grant payments to partner organisations of the Foundation are made wh¢n the intention to make a grant has been communicated to the partner organisation but there is uncertainty about ¢i¢her the liming of the grant or the amount of grant payable. No provisions are made for future ¢onditiOTJal instalmeThts of multi-year grants where the payment of such instalmeni remains at the discretion of the Trustee. kl Opgratlng lease• Rentsls paid under operating leases are eharged to the statement of comprehensive income and retained earnings on a stra2gh¢ line basis over the lease tem. The value of any rent free periods are amortised over the life of the lease. 11 Key judgements and ￿tIma￿S In applying the Foundation'5 accounting poli¢i¢$, the Trustee may be required to make judgements and estimates that could impact the amounts reported for assets and liabilities as at the Statement of Financial Position date and the amounts reported for rev¢nue5 and ¢xpense5 during the financial year. The Tru$tee'5 estimate5 are based on the evidence available ai the time; including historical experience and other factors that are considered to be applicable. Due io the inherent subjectivity involved in making such estimates, the actual results and outcomes may ditrer. Esiimaies are reviewed on an on-going basis and rev15ion5 to accounting estimates ar¢ recognised in the financial year in which the estimate 15 revised. The TNsiee is not aware of any significant sour¢e$ of estimation uncertainty in the preparation of the financial statements. Donations Income from donation5 totalled £42.821.945 {2024'. £98,731,767), of which £5.946 (2024.. £6,645) was unrestricted and £42,815,999 (2024.. £98,725,122) wa5 restricted as an expendable endoMTh¢nt. 31 Karlsson Jativa Charitablo Found&tl Notes to the financial statements (continued) Forthe year ended 31 December 2025 Investment income 2025 2024 Listed inv¢ytsnents'. Dividends- UK equities Dividends- Non UK equities Dividends- Other Investmenis Interest- UK fixed interest securities 92,319 850,478 680,667 821,160 317,097 405,482 358,430 Interest- Non UK r￿ed interest securiiies 935,089 645,160 3,379,713 1.726,169 4. Analysls of expenditure on charitable actlvltle8 The Foundation undertook no direct charitable activities but awarded support grants io several institution5 in furtheran¢¢ ofits charitable act￿vItIes. The support grants are analysed below between the two ¢ategories of activity together with the allocation of governance Costs in¢urr¢d by the Foundation. Support Grants to Institutions Allocation of Governance Cosis Total Expenditure 2025 Total Expenditure 2024 Chgrliable activlty Signatur Programme LACT Programme 1,457,776 986 309 2,444,085 352,790 264,593 617,383 1,810,566 1,250,902 3,061,468 1,643,419 837,739 2,481,158 2025 2024 Support grants by country Slgnllt￿r Programme Sweden United Kingdom 712,137 745,639 1,457,776 602,031 751,927 1,353,958 32 Karlsson Jativa Charhabh Found•tvJn Notes to the financial statements (continued) For the year ended 31 Decomber 2025 4. Analysls of expenditure on charitable activities lcontinued) 2025 2024 Support grants by country LACT Programme Bolivia Colombia Ecuador Peru 183,175 422,782 224,975 155,378 986,309 194.359 182.144 189,260 146.124 711.887 For th¢ LACT Programme, breakdown by county relates io pla¢e of implementation: all grants were paid to charities regis(er¢d in the United Kingdom with the exception of two donations totalling £65,074 to Danièll¢ Children's Fund, a charity registered in the Netherlands. 2025 2024 Support 8rants by Inslllytlon Signatur ProgrAmme Aurora Orchestra Awards for Young Musicians (Young Sounds UK working name) Bimiingham Conservatoire (Birniingham City University) Bradford Cultur¢ Company Diocese of W¢stmin5ter Liverpool FC Foundation London Music Fund London Sinfonietta Music Masters Music of Life Netional Youth Orchestra NoTdoff Robbins ORA Choir RBU Skane Royal Academy of Music Royal Liverpool Philharnionic Society Royal Northern College of Music Royal Opera House Signatur Foundation Sweden Sound Connections Southbank Centre The Benedetti Foundation The Music Works Youth Music 60,000 50,000 50,000 50,000 79,278 76,617 50,000 27,062 75,000 60,000 20,000 50,000 20,000 27,859 60,000 20,000 65,000 35,000 30,000 31,039 10,000 59,754 10,000 34,313 25,000 50,000 20,000 30,000 567,718 20,000 50,000 40,000 28,248 50,000 50,000 652,383 29,215 28,248 100,000 1,457,776 1,353,958 33 Karlsson Jativa C￿ritI&￿e FoundatK Notes to the financial statements (continued) For the year ended 31 December 2025 4. Analysis of expenditure on charitable aGtivities (continued) LACT Prograrnme CAFOD Children Change Columbia Danièlle Children's Fund Empower Lumos Plan International Sense International Teach for All Network War Child World Vision 194,979 133,250 65.074 34,i90 160,000 140,302 74,843 60.000 53,471 70,000 986.309 198,090 65.000 15,912 75,000 163,581 64,304 60,000 70,000 711,887 5. Governance costs 2025 2024 AuditOT$' remuneration comprises audit Services Staff costs wages and salaries social security costs pension costs Legal and professional fee5 Office rent Accounianey T&%ation services Bank charges Other administration IT fees Depreciation 17,400 13,200 281,453 25,698 16,684 75.266 92,604 15,197 4,778 122,349 12,386 5,136 94,870 52,376 13,108 9,076 1,251 48,578 40,794 42,850 35,910 11 8,102 617,383 2,189 415,313 Governance costs have been apportioned to charitable aetivitie5 on a pro rata basis in a¢¢ordance with the number of grants awarded during the year to each of the charitable activitie$. In 2024 and 2025 there wa5 an increase in Governance costs due to the expanded 5¢0pe of the Foundation. The Foundation had seven employees ai year end and the average headcount during the year was six {2024'. four). l(arlsson Jatlva Notes to the financial statements (continued) For the year ended 31 December 2025 6. Tanglblè fixèd assets Computer equipment Leasehold improvements Total Cost At l January 2025 Additions At 31 December 2025 3,714 16,682 20,396 7,542 11,256 16,682 27,938 7,542 Depre¢iation At l January 2025 Additions Ai 31 De¢ember 2025 932 4.331 5,263 1.257 3.771 5,028 2,189 8,102 10,291 Net book value At 31 Dee¢mber 2025 At 31 December 2024 15,133 2,782 2,514 6,285 17,647 9,067 7. Investmonts 2025 2024 Movement in fixed asset investments Openin8 market value Additions at C05t Disposal$ at canrying value Net gain5 on revaluation Closing markei value 120,367,628 109,645.984 156,730,589) 6 536 143 179,819.166 23,892.975 108,643.472 (14,117,048) 1948 229 120,367.628 2025 2024 Investments at fair value comprised UK equities Non UK equitie5 UK fixed int¢Test Securities Non UK fixed interest securities Other investments 2,884,509 82,743.040 24,767,485 24,390,603 45,033.529 2,146,812 60,834.962 19,958,867 23,405,784 14.021.203 179,819.166 120.367.628 The Trustee considers that there were no material individual investment holdings that require disclosure. All investments are traded in quoted public markets or held through investment funds and earried at th¢ir fair value. Th¢ basis of fair value for quoted investments is equivalent to the market value, using the Closing price for securities and ¢losing NAV for funds. Invesiment additions and disposals are recognised at the date of trade at cost, being the transaction value. These investments are accounted for at fair value throu￿ the Statement of Financial A¢tivities. 35 Karlsson Jativa Charitable Fo￿t￿latIOn Notes to the financial statements (continued) For the year ended 31 December 2025 8. Debtors 2025 2024 Accrued income Accrued investment in¢ome Prepayments Other debtors 118,088 901,755 10.967 12.740 1043 550 794.571 12,216 12,740 819,527 Creditors: amounts falling due withln one year 2025 2024 Accrued audit, tax and accounting f¢e5 Ac¢rued investment managem¢nt fees Other ¢reditOTS 21,248 168,664 16,257 206 169 15,000 86.918 77,637 179555 There are no liabilities falling due after more than one year. 10. Analy818 of charitable funds Tangible assets Net current asscts Investments Total 2025 Totsl 2024 Expendable endowment fund Unrestri¢ted income fund 179,819,166 27,729.357 207,548,523 160,809.463 3 589,896 31,319,253 3 607 543 211.156,066 1685,521 162,494,984 179,819,166 17,647 36 Karlsson Jativa Charftsble Foundation Notes to the financial statements (continued) For the year ended 31 December 2025 10. Analysis of charitable funds Icontlnu8dl Th¢ unrestricted funds of the Foundation are made up as follow5 at 31 December 2025.. 2025 2024 GenerAI funds Designated funds Signatur Programme Designated funds LACT Programme Designated funds KJCF Qu¢st Fellowships 1,492,425 633,588 391.124 1.090.406 847.927 584,351 253,243 3 607 543 1685 521 Th¢ d¢$ignated funds were designated for the paying of specific grants expected to Tnaterialise within the first three months of the next financial period provided the projects fulfil their Criteria to qualify, at the Trustee's complete dis¢retion. As such the fund5 were designated bui no liability was recognised wilh regards to these fuiure payments. 11. Flnanclal Instruments 2025 2024 Financial asseis measured at fair value through income or expenditure comprise investments Financial assets measured at amortised Cost comprise accrued income, other debtors, cash and cash equivalent 179,819,166 120,367,628 31,514,455 42,285,628 211333 621 162 653 256 Financial liabilities measured at amortised cost Comprise accrua15 and oiher creditors 206 169 179 555 Income, e¥pense andnel gains andlo3ses, including changes infair Val￿e. Gains on financial assets measured at fair valu¢ through in¢ome or expenditure Dividend income froTn financial assets measured at fair value through income or expenditure Interest income on financial assets measured at fair value through income or expenditure Interest income on financial a55ets measured at amort15ed cosi 6,536,143 1,948,229 1,623,464 722,579 1,756,249 1,003,590 1627 606 11543,462 1.035 601 4,709,999 37 Karlsson Jativa awitabl• Foundatkn Notes to the financial statements (continued) Forth8 year ended 31 December 2025 11. Financial instruments (continued Financial risk management The Trustee considers the following risk factors for each proposed investtnent as well as th¢ impact of a particular investment sel¢¢tion on the overall portfolio risk return profil¢'. a) market risk.. equity- beta of investment to equity markets, volatility, drdwdown risk bl market risk.. rates- sensitivity of investment to moves in interest rates cl market risk.. ¢redii- sensitivity of investment to moves in credit spreads d) capital risk.. counterpany risk, default risk or risk of total invesmient failure e} concentration risk.. overexposure to particular sectOT or investment type currency risk.. with respect to unint¢nded Cu￿encY exposures g) liquidity risk.. ¢onsidered both in nomial and 5tre55ed market circumstances In order to manage the risk profile of th¢ portfolio and its Constituent parts. the Trustee maintains a heat map that is monitored on an ongoing basis. Credit risk on cash balances 15 mitigated by holding ¢ash at mainstream financial institutions wi¢h strong redit ratings and in high grade money market funds. 12. Operatlng lease commltment8 At 31 December 2025, the Foundation had future minimum rentals under non-cancellable operating leases as set out below.. 2025 2024 Mlnimum rentals payAble Within one year Between two and five year5 62,400 92,352 62,400 154,752 13. Related party transa¢tlons In the financial yeAr, one of the Director5 of KJCF Trustees paid fees of £5,946 {2024.. £6,645} for office administration, professional support, travel and IT costs, for the benefit of the Foundation. The fees will not be reimbursed by the Foundation. Accordingly, this amount has been includ¢d within note 2. 38