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2024-12-31-accounts

wril CtF 2024 DELTA PHILANTHROPIES REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBEFI 2024 REGISTERED COMPANY NUMBER: 10954151 {England and Wales) REGISTERED CHARITY NUMBER: 1178335

CONTENTS A Message from Our Leadership . About Delta Philanthropies............................................ Global Health Rural Transformation & Sustainable Livelihoods . 14 Disaster Relief & Preparedness 17 Advocacy & Thought Leadership .................................. 19 Capacity Building 21 Structure, Governance and Management .................... 24 Board Profiles 26 Financial Review . 30 Independent Auditor's Report . 31 Financial Statements 34

CHAIRPERSON'S LETTER As I look back on 2024. 1 am filled not only with gratitude but also with awe at the journey Delta philanthropies has walked over the past seven years. what began as a vision to place African leadership at the heart of philanthropy has matured into è movement that is restoring dignity, expanding opportunity, and re-shaping the way development is done on our continent. This past year, I was deeply moved by encounters that brought ovr mission to life. At Mbuya Nehanda Maternity Hospital in Zimbabwe, I held the tiny hand of a premature baby whose charice of survival has been transformed by the new Immediate Kangaroo Mother Care liKMCI unit. In Kampala, I listened to young girls share how mentorship and access to education are rewriting the story of their futures. In care institutions across Zimbabwe, I saw children well-fed, leafning, and laughing simple but profound signs of hope rekindled. These are not just programme ovtputs. They are human stories of resilience and POS5ibility. Our work is not measured only in numbers or milestones. It is found in the courage of mothers who dare to dream again, in the determination of students who push throvgh barriers, and in the quiet strength of communities rising to lead their owrTr transformation. This is the essence of African philanthropy.. aligning resources with the ingenuity* faith. and leadership already present in our people. None of this would be possible without our partners, supporters, and the dedicated Delta philanthropies team. You are the lifeblood of this work. Your commitment ensvres that we not only respond to immediate challenges but also invest in resilient systems that will serve geneiations to come. As Chair, I step into the futvre with confidence and resolve. Delta philanthropies is not just funding projects it is helping to shape an ecosystem of African-led development that will outlast us all. Together, we are building something enduring: a legacy of hope, dignity. and opportunity for Africa's children. Mrs H. E.T Masiylw• Co-Founder & chair DEITA PHILANTHROPIES

i¥ l ¥JKJI.n, PRESIDENT & CEO'S STATEMENT 2024 was a year of progress and transformation for Delta philanthropies. We strengthened our foundations, scaled impact across our focus areas. and prepared for an ambitious next phase of growth. In Global Health, We continued our long-term investment in maternal and neonatal care. Since 2020, we have trained over 6,000 healthcare workers, ensuiing that mothers and newborns receive life-saving care. This year, we established Zimbabwe's first Immediate Kangaroo Mother Care liKMC) unit at Mbuya Nehanda Maternity Hospital, which has significantly reduced moitality rates, offering thousands of premat4Jre babies a chance at survival and offering their families renewed hope. Our fight to eliminate neglected tropical diseases advanced significantly. Two Mass Drug Administration campaigns treated 2.3 million children for schistosomiasis (SCH) and soil-transmitted helminths (STH), and reached over 800,000 people to combat lymphatic filariasis ILFI. In Rur81 Transformation, we concluded the Relmagine Rural Africa piogram, which over its lifespan trained more than 400,000 farmers in climate-smart agriculture and sustainable livelihoods. Shifting our focus to addressing food and nutrition insecurity in residential care institLttions, we reached 82 institutions, providing training and agricultural inputs to benefit more than 5,000 vulnerable children. In Disaster Relief and Prep8rtdness, the National Emergency Operations Centre, since becoming operational in January, has coordinated rapid responses to multiple emergencies. including the El Nino-induced drought, while saving the govelnment significant conferencing costs and improving crisis communication. As we prepare for 2025, we remain mindful of the evolving challenges facing our sector. The recent shifts in global funding reinforce the importance of locally-rooted, African-led development models that can sustain essential services even in uncertain times. We will continue aligning with global collaboratives, deepening partnerships with governments and philanthropists, and championing solutions designed and sustained by African communities. Looking forward, our focus is on strengthening Delta's capabilities - governance, systems, and technology to deliver even greater impact. Our task is to ensure that the foundation we have built erbables scalable. sustainable solutions that improve lives across the continent and stand the test of time. Ms E. T Masiyiwa President & chief Executive Offi¢er DELTA PHILANTHROPIES

ABOUT DELTA PHILANTHROPIES Delta Philanthropies is a UK-registered charity that invests in impact and funds human Capital development in Africa. Fovnded by the Masiyiwa Family in 2017, we ¢o-create, design. and implement pan-African projects focusing on communities, women, and children. VISION To ac¢elerate progress toward Incluslve economlc growth and social transformation. MISSION To help countries in Africa become middle-income e¢onomles through human capital development. STRATEGIC APPROACH We deslgn, Invest In, and Implement projects across four areas ¢rltl¢al to Inclvslve economicgrowth: Education, Health. RuralTransformation andSustalnableLivelihoods, and Dl$aster Rellef and Preparedness. Ovr approach combines Progmm D•ilgn & Cqtalytlc Funding, where we develop and ¢o-fund innovative models that drive sustainable change; Thought L•ad•rshlp & Advocacy. leveraging our convenlng power to mobilise resources and advance critical issues in human capital development.. and Collaboration & CaTpa¢lty Buildlngi partnering with others to co4und initlatives and strengthen capabilities withln the philanthropic oco$ystom. PUBLIC BENEFIT The Trustees confirm that Delta Philanthropl•$' programmes continue to have regard to the Charity Commission's general guidance on pvbllc benefit. They remain ¢ommitted to ensuring that all actlvities undertaken during the period under review align with the charity's objectives and are designed to deliver meaningful benefit to communlties. DELTA PHItANTHROPIES

2024 IMPACT HIGHLIGHTS clinical & auxiliary staff trained over three years aD children treated for neglected tropical diseases smallholder farmers trained over four years 5.000+ 200_nnn+ vulnerable children in institutions of care reached with food security interventions patients from low-income popvlations given access to healthcare

OUR GEOGRAPHIC FOOTPRINT HIGHERLIFE I FOUNDATION f Zimbabwe & Lesotho in partnership with Higherlife Foundation eswatini, Mozambique, Uganda. Namibia, Le50tho, Rwanda, Tanzania, South Africa, Zimbabwe. Kenya. Zambi8, Botswana and Malawi in partnership with Masana wa Afrika Afrika Ghana, Nigeria, Rwand8, Kenya, Tanzania and Uganda in partnership with King's Trust International Klng&Tru8t Intematlonul DELTA PHILANTHROPIES

I GLOBAL HEALTH (Photo creJil.' Hiylieflile l-r) ndolion. 2 14)

Eliminating Neglected Tropical Diseases Our work in neglected tropical diseases {NTDs). in paltnership with the Ministry of Health and child Care (MOHCCI and the National Institute of Health Research (NIHRI, remains one of Zimbabwe's most ambitious pvblic health efforts, targeting the elimination of schist050miasis (SCH), soil-tiansmitted helminths ISTHI, and lymphatic filariasis ILFI as public health problems. In 2024, we funded two major Mass Diug Administration IMDAI campaigns. The SCH/STH campaign reached 2.3 million children across 47 districts, and the LF campaign reached 807,743 people across seven endemic districts. These campaigns exceeded the World Health Organisation coverage targets and introduced triple drug therapy, a key innovation that will accelerate disease elimination in Zimbabwe by 2030. We supported a comprehensive community mapping exercise in 21 wards with the Departments ofwater, Sanitation and Hygiene and Environment under the MOHCC. The study assessed readiness to scale up demand-led sanitation approaches essential for interiupting disease transmission. Results showed that 31% of 520 villages had already been "triggered,, marking a critical first step toward ending open defecation and improving community sanitation. Recognising that sustainable progress requires domestic resources, we commissioned a nationwide study of the NTD funding landscape. This critical work will provide evidence-b3sed recommendations to strengthen policy frameworks, enhance sustainable financing for priority NTDS, and improve long-term service delivery. Looking ahead, as part of our commitment to the Reaching the Last Mile Fund, we will contribute to developing Zimbabwe's LF Elimination plan (2024-2030). Through the Deworming Innovation Fund, we will continue supporting MDAS. WASH initiatives. and behaviour change programs to demonstrate interruption of SCH and STH tiansmis5ion. *r A niirsp ¢ydministcring bilhtrr2itr ond intestinal v/orfn trrp£Jtrmpnt dijrin Jc thp. ?O?II SCH/sTH MDA (Photo creolil.. Higherli[e Foundotion, ?0241 DEITA PHILANTHROPIES

A ntsrse checking on o preteim bubJi receivinq r)lTrntothernpJi frrprjtmpnt rJt.fally MiigrJbe Iqospittrl (Photo eredit- HigherliJe Foundotion, 20241 Transformlng Maternal and Neonatal Health Perhaps nowhere has the life-58ving impact of our work been more immediately visible than in Zimbabwe's maternity wards. where we continue to invest in reducirbg preventable maternal and neonatal deaths in referral institutions. In 2024. in paitnership with the ELMA Foundation and the Ministry of Health and child Care {MoHCC), we established an Immediate Kangaroo Mother Care {iKMCI unit at Mbuya Nehanda Maternity Hospital. This proven method ensures preterm babies receive vital skin-to-skin contact with their mothers. helping regulate body tempeiatuie, breathing, and heart rate - significantly improving svNival outcomes. The results were striking.. mortality rates among babies weighing 1,000-1,500 grams dropped to less than half of the previous year's levels. The new unit expanded access to critical care, eased pressure on the preterm ward, and contributed to an overall 41% reduction in neonatal mortality compared to the previous year, demonstrating substantial progress in improving newborn survival. Working with MoHCC,we trained an additional 1,465 healthcare workers in Emergency obstetric and Neonatal Care across seven hospitals, bringing the total trained since the start of our Maternal and Neonatal Health IMNH) program to over 6.000 staff. We also equipped maternity wards at five central hospitals, supported maintenance and supplies across 16 health institutions, and trained 33 technicians in equipment servicing ensuring life-saving devices remain functional and accessible. Looking ahead, we will develop a national Country Plan to guide Zimbabwe's Maternal Health strategy, Scale up capacity-building efforts, and place essential equipment in more central hospitals. We will also irbvest in refurbishing maternity WASH facilities at key hospita15 to close critical infrastiucture gaps that affect the quality of care. yo DELTA PHILANTHROPIES

An IKMC nurse assisting a niotrhpr vJith .Ekin-to-£kin r.nntnrl nt Mbiiiin hlphonclry Moternitii Hospitol (Photo credit.- Higheilife Foundation, ?024) Expandlng Prlmary Healthcare Access In 2024,we advanced the One Health Initiative, oureffort to expand high-quality, affordèble primary healthcare for underserved communities in Zimbabwe through a network of franchised clinics. With our funding. an existing clinic undeiwent major upgrades, including solar power installation, a fully operational microbiology lab, and newly licensed optometry services. Our support also enabled the irbtroductiorb of free weekly wellness clinics for blood pressure and diabetes screening, mobile outreach programs to reach remote populations, and a youth health Corner offering free mental and sexual reproductive health seivices. We also supported groundwork for a new franchise clinic, which will extend the network to three operational sites once cor)Stfuction is complete. Enhanced dental and orthodontic services introduced this year will also be expanded across the network. Looking ahead, we will continue funding efforts to strengthen service delivery and launch the new clinic, ensuring that more low-income families have access to comprehensive, quality primary healthcare. 71 DEITA PHIIANTHROPIES

Jj. A ehilcl receiving voccinotions during on ifflmunisotion outreoch compuign (Photo credit.. Min15try olHealth & Child Core, 2024) strengthening Chlldhood Immunlsatlon Through the Vaccination Action Network IVAN). implemented in partnership with the Rockefeller Fovndation and the Ministry of Health and child Care IMOHCCI, we invested in closing routine immunisation gaps and protecting vulnerable children from preventable diseases. The program aimed to strengthen routine immvnisation service delivery and achieve over 95% vaccine coverage in hard-to-reachcommvnities through integrated outreach programs thatdeliveredcriticalchildhood vaccinations, including pentavalent, measles-rubella, and polio, alongside vitamin A supplementationi growth monitoring, HIV follow-up care, and enhanced disease surveillance. By December 2024, VAN had reached 751,702 children out of a target of 770.000, achieving 98% coverage across Harare, Mashonaland West, and Matabeleland South. These results represent thousands of children now protected against measles, polio. diphtheria. and other diseases that continue to claim young lives across Africa. Overall. our investment irb VAN significantly stiengthened Zimbabwe's rovtine immunisation services, closing coverage gap5 and helping prevent future outbreaks. The high coverage achieved is expected to substantially reduce the burden of vaccine-preventable diseases in the years ahead. 72 DEITA PHIIANTHROPIES

Spotllght: Technology Transforming Neonatal Care at Mpilo Central Hospltal At Mpilo Central Hospit31, the largest maternity facility in Bulawayo, new neonatal equipment provided in July 2024 is making a big difference for mothers. babies. and the midwives who care for them. "These machines have made life easier for us," says Sister Sibonokuhle Ncube, a midwife and paediatric nurse in the neonatal intensive care ur)it. "We use CPAP machines for babies with respiratory distress. The earlier we start them on these machines, the better their chances of survival." Processes that were once manual and time-consuming are now automated. allowing staff to focvs more on patient care. "8efore, we used to give IV fluids manually," Sr. Ncube explains. "Now. we connect the baby to the machine, set the regulated amounts, and everything becomes automated. It saves time and makes sure no dose5 are missed." Close monitoring has also improved. "The glucometer alerts us if 3 baby is deterioratingt and the jaundice meter helps Us detect conditions caused by neonatal jaundice early, like kernicteru5,' she adds. Midwife Sister Raddy Nowedza agrees: "Using this technology is the bestway to manage neonates becavse so much depends on timely intervention." Firelly Phototherapy Device in uselor joundice manirgefflent in the Mpilo Hospital Neon(ytoyl Intenfiwp fare ljnit {Photo credit.. Higheilije Fovndolion, 20241 73 DEITA PHILANTHROPIES

ir•n RURAL TRANSFORMATION & SUSTAINABLE LIVELIHOODS

S¢allng Cllmate-smart Agriculture Through Reimaglne Rural Afrlca Our rural transformation work in 2023/24 took place amid significant climate challenges. An El Nino-induced drought that affected much of southern Africa tested agricultural productivity and food security across the region. Despite these conditions, our Climate-smart Agriculture (CSAI approach demonstrated resilience and continued to support farmers in adapting to a changing environment. During this farming season, we significar)tly expanded the Relmagine Rural Africa IRRA) program, nearly doubling farmer training numbers through a Train the Trainer approach. 1,357 Agricultural Technical and Extension Seivices (AGRITEXI officers were trained. who in tvin cascaded Climate-smart Agriculture (CSAI practices to 201,123 smallholder farmers across 13 districts. Inpvt support was also provided to 9.000 farming households to enhance adoption. Over four years. our investment in RRA reached 413,585 smallholder farmers, positively impacting over 2.4 million people by improving food security, nutrition, and incomes. Despite mid-season dry spells and the effects of El Nino, the piogram exceeded its targets for training. productivity, income, and dietary diversity. As the project concluded in this reporting period. efforts focused on stskeholder engagement, results tracking, and ensuring that trained extension workers continue promoting CSA practices into the next farming season and beyond. Ir lend F(YfmeTS receiving seed und insecticide (It o leelinu(JiiTre RuiolA]rico Luuncli (Photo ciedii.. Higherlile Foundotion, 2024) 75 DELTA PHILANTHROPIES

Strengthenlng Food Security In Instltutions Of Car• In the 2024/25 farming season, our strategy pivoted to focus on improving food, nutrition. and income security for vulnerable children livir)g in Institutions of Care. We supported 82 children's homes across Zimbabwe, caring for over 5,000 children, with CSA training and catalytic farming inputs to improve agricultural productivity, enhance food security, and promote sustainable practices. These interventions aim to strengthen long-term resilience and self-sufficiency for both the homes and their surrounding communities. Looking ahead, wewill pilot nutrition gardens in 20 institutions, designed to diversify diets. provide consistent access to fresh, nutrient-rich vegetables, and combat malnvtrition. This initiative will support healthy child development and establish sustainable food systems within children's homes. ¥J A crop assessfflent exercise underwoy (Jt shoJi onevlttko childTÈn'S Villuge (Photo credit.. Higherlile Foundorion, 20241 Spotlight: Climate Smart Agriculture Builds Resilience sheilah Jokonya, a farmer from Kushingirira Village in Mt Darwin District, has been practi5ing climate Smart Agriculture ICSAI since receiving Delta-supported tiaining in 2020. The approach equips farmers with techniques to manage shifting rainfall patterns and mitigate the effects of drought, In 2024, during ar) El Nino-induced diy season, Sheilah harvested 17 bags of maize - enough to sustain her household through March - while many others in her area recorded crop failure. she attributes this to the CSA methods she adopted, including moisture conservation and Precise planting lan agricultural technique that optimizes seed placement for maximum crop yield and efficiency). "Even now. we don't need a lot of rain. If it fains three times. the holes I dug and the mulch l used will trap enough moisture for my maize crop,, she said. In average rainfall years, she produces up to three tonnes of maize from her plots. With increased productivity over time. she has beer) able to purchase inputs independently and improve her household infrastructure. "l am now ready to stand alone. I know how to plan for my seasons," she said. Through CSA, Delta Philanthropies supported farmers like Sheilah are strengthening food security and building resilience to climate shocks. 16 DELTA PHILANTHROPIES

", Gr￿1 rtggi DISASTER RELIEF & PREPAREDNESS fphoig y4drl.. Higherlife.Fovndotion, go?41

Emergency Operations Centres Our completion and equipping of the National Emergency Operations Centre INEOC) msrked 8 critical investment in strengthening Zimbabwe's disaster preparedness. Since becoming opeiational in January 2024, the NEOC has cooidinated responses to multiple emergencies. including the El Nino-induced drought that affected millions across the region. The centre has hosted over 10 meetings each month, savir)g an estimated $30,000 in conferencing costs while enablirbg faster. more coordinated emergency responses. We also invested in upgrading the Public Health Emergency Operations Centre (PHEOCI. further enhancing the country's ability to manage health-related crises from Containing disease outbreaks to safeguarding essential medical supply chains. During Zimbabwe's 18-month cholera outbreak, which began in February 2023 and officially ended in August 2024, the PHEOC served as a hub for critical emergency preparedness and coordination efforts and will Temain central to the nation's ongoing cholera elimination strategy. !!IYVO*1 filllllll5j'll ij Members oj the fylotiontyl Tosklorce on Choleru Iliminotion otteiidiiicj tlieir ciuorlcrlij moeting at the PHEOC ttnd conclutting site visits in o cholero hotspot (Photo credit.. HigheKlile Fovndtstion, 2024) 78 DEITA PHILANTHROPIES

ADVOCACY & THOUGHT LEADERSHIP Ph

In 2024, Delta Philanthropies strengthened its position as a leading voice in human capital development, using its convening power to advocate for matein31 and newborn health, gender equality, and the elimination of neglected tropical disease5, while shaping the evolving role of philanthropy. Our leadership was active or) global stages. including the Skoll World Forum, where President & CEO Elizabeth Tanya Masiyiwa spoke on the growing role of philanthropic collaboratives in Africa, and on the sidelines of the United Nations General Assembly, where Board Chair Mrs Tsitsi Masiyiwa joined high-level forums with global philanthropists, policymakers, and civil society leaders. Additionally, our leadership expanded its digital advocacy efforts. with both Mrs Masiyiwa and Hs Masiyiwa using media and online platforms highlighting African-led solutions and share insights on the future of philanthropy, reaching an expanding audience of global development leaders. Spotlighting collaborative partnerships with childien Investment Fund Foundation (CIFFI. ELMA Foundation, and the Gates Foundation on shared platforms allowed us to showcase the impact of collective giving models. Through these engagements, Delta philanthropies is mobilising resources. influencing the philanthropy community, and erbsuring African voices help shape the global development agenda. &xplorkng the opportwiSty to U¥lth Phild14Uin)p5k4 &temal ftnd bom heajth (Photo credit.. Goals House. 2024) i Etrorld ',<oll sl. Iphoto credil.. GoEe5 Foundotion. 202AI 20 DEITA PHILANTHROPIES

CAPACITY BUILDING otO£fedil.' +Yigherlfii "foundoiioii ?02Jl,.-

Masana wa Af rlka 2024 marked the second year of Delta Philanthropies. partnership with Masana wa Afrika, a foundation dedicated to strengthening commurbity-based organisations across Africa. In June, Masana hosted its public launch, attended by Delta philanthropies leadership as anchor funders. The event brought together 114 grantee partners from 12 African countries, fellow funders, and sector partners for the first time, providing opportunities for networking and peer learr)ing. In 2024, Masana supported 117 locally-led organisations across 13 African countries, with a total portfolio commitment of us$9.5 million. Through our annual contribution of ussl million, the partnership has reached more than 680,000 individuals with community-based interver)tions and provided multi-year support for financial management, leadership development, and programme delivery. During the year, Delta philanthropies participated in Masana board meetings and site visits in Uganda, contributing to the foundation's strategic direction. Masana also secured a newfunding partner, the Patchwoik Collective, a family philanthropic fund committed to directing resources to local organisations and leaders. This partnership will accelerate Masana's expansion into West Africa. Klng's Trust International Delta philanthropies. partnership with King's Trust International IKTII, founded by His Hajesty King Charles111. supports the delivery of education, employability, and enterprise Pfogrammes across the continent. In 2024, the collaboration equipped 4,200 young people in six Afriear) countries with skills and training to prepare them to build sustainable livelihoods. Delt8 Philanthropies. Board chair contributed strategic guidance as a member of the KTI Africa Advisory Board, ensuring that regional perspectives informed programme design and implementation. The Af rlca Center Delta philanthropies continued its support of The Africa Center, a multidisciplinary platform in New York City that champions new nariatives about Africa's fvture. Funding from Delta philanthropies contributed to progiammes, exhibition5, and research promoting African leadership in business, policy, and culture, while fosteiing global Collaboration on issues critical to the continent's development. Yad Vashem Delta Philanthropies also supported Yad Vashem, the World Holocaust Remembrance Center in Jerusalem in 2024. Contiibutions focvsed on the Children's Memorial and its associated pillars ofeducation, docvmentation, and research, advancing the mission of Holocaust remembrance and education globally. '•tr ..1 ¥ Bourd Choir, Mrs Tsitsi Mosiyiwo, visiting Mosano wo Alriko grontee, Girl Up Initiotive Ugand(J, cliirifpg th￿ Aucjust bocjrd riTreeting Oficl site visits (Photo ciedii.. Hioherlile Foundotion, 20?4) 22 DELTA PHILANTHROPIES

Spotlight: Educatlon and Empowerment In Kllptown In the heart of Kliptown, one of Soweto's oldest towrbships, poverty and lack of services have long hindered opportunities for children and families. Kliptown is an informal settlement with a mix of formal and informal housing, lacking adequate infrastrueture, proper sanitation. and access to essential services. Many children. still affected by the legacy of apartheid and ongoing government neglect, face limited access to quality education, nvtritlOU5 meals, and safe learning environments- leaving them vulnerable to the cycle ofpoverty. Established in 2007 by a group of dedicated residents, the Kliptown Youth Program (KYP) set out to change this reality by using education as a tool for empowerment. From its beginnings as a grassroots initiative, KYP has grown into an internationally recognised organisation with a full campus that provides essential svpport to children and families. The program offers access to education. daily meals. safe spaces, and mentorship that help young people break free from poverty. In 2024, with support from Masana wa Afrika. KYP reached 6,405 individuals, continuing its mission to uplift Kliptown through education and empowerment. By addressing both immediate needs ar)d long-term development, KYP is helping to build a generation equipped to lead and inspire lasting change. KYP KLIPTOWN VOUTH PRofiRAM (Photo eredlt.. Kliptown Youth PKogrom, 2023) DELTA PHIIANTHROPIES

STRUCTURE. GOVERNANCE & MANAGEMENT Governlng Document The charity is a private limited company established by Memorandvm of Incorporation and Articles of Association dated 8th September 2017, according to the Laws OF England and Wales. The Company is registered with Companies House (Registration No. 10954151) and with the charities Commission (charity No. 11783351. The Charity was established with an initial gift from Founding Trustee and Patron Mr Strive Masiyiwa. Method Of Appolntment Of Trustees The founding documents provide for a minimum of three Trustees With no maximum, although the Board has determined that there should be no more than seven Trustees for ease of convening. Trustees are appointed for an initial peiiod of three years, after which time they may put themselves foiward for re-appointment. Trustees will be comprised of executive, non-executive and independent non-executive members, and all are reqvired to disclose any relevant interests, including conflicts of interest, real or potential, and register them with the Board and. in accordance with the Trust's policy, to withdraw from decisions where a conflict of interest arises. The Board, asawhole. is responsible for nominating individuals for election to the Board andfor fillingvacancies on the Board. The Trustees consider appointments recruited for their knowledge, empathy and expeiience of the Company and its mission, and to ensure the skills and composition of the Board and succession planning are optimised. Arby Trustee may propose an individual to be consideied by the Board if the individual is willing and eligible to act as J Trustee. New Trustees may also be sought by open advertisement or through a dialogue with prospective interested partie5 who respect the ethos and commitment of the Company and its chaiitable objectives. All Trustees give of their time freely and do not receive any remuneration. Specific expenses paid to Trustees are disclosed in the notes to the accounts. Inductlon And Tralnlng Of Trustees Prospective Trustees are oriented to the details of the Charity's founding document and the obligations it requires of Trustees, as well as to the purpose and work of the Comparby. Literature and project visits will be made available to and/or airanged for new Trustees in order to enable them to experience the projects and highlight the purpose, objectives and work of the Trust and lay out the responsibilities and duties of a trustee. As requiied by local law, the Board may provide continuing education for Trustees, either individually or as a group. 24 DEITA PHILANTHROPIES

Related Parties The charityworks in close collaboration with its primary implementing partner, Higherlife Foundation, primarily in Zimbabwe to deliver impactful programs across human capital development, health, disaster relief and preparedness and community development. This partnership combines Delta philanthropies, strategic grant- making and governance expertise with Higherlife Fovndation's on-the-ground implementation cap3City, deep community networks, and operational agility. This collaborative model enables both organisations to independently leverage respective strengths, maximize reach, and accelerate progress towards shared development goals in Zimbabwe and the region. Rlsk Management The Trustees have a duty to identify and review the risks to which the charity is exposed and to ensure appropriate controls are in place to provide reasonable assurance against fraud and error. The Trustees recognise thèt exchange rate fluctuations and exchange control regulations may result in funds raised and/or transferied between countries and to beneficiaries may be different to those anticipated and/or budgeted for. The Trustees have reviewed this risk and established a policy to manage rapidly changing events wherever P0S5ible whilst retaining a focus on mission and the change enabled by the funding it provides. Statement of Trustees? Responsibilities The Trustees, who are also the direetois of Delta Philanthiopies for the purposes of company law, are responsible for pieparing the Trustees, Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice). Company law requires the trustee5 to prepare financial statements for each financial year, which give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resovrces, including the income and expenditure, of the charitable company for that year. In preparing these financial statements, the trustees are requiied to.. select suitable accounting policies and then apply them consistently- observe the methods and principles in the Charities SORP., make judgements and estimates that are reasonable and prudent; and prepare the financial statements on the going concern basis unless it is inappropriate to presume that the Charity will continue in operation. The Trustees are responsible for keeping adequate accounting Tecords that disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the Charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. 25 DEITA PHILANTHROPIES

BOARD OF TRUSTEES Strive Maslylwa Is the Founder and Chairman of the Econet Group, a pan-African telecommunications, media, and technology company. He Serves on several international boards, including Unilever, National Geographic Society, Asian Society and the Global Advisory boards of the Council on Foreign Relations and Stanford University. Strive is a former board member ofthe Rockefeller Foundation for 15 years and Chairman Emeritus of the Alliance for a Green Revolution in Africa (AGRAI. He previously served on the Africa Progress Panel and was a juror on the Hilton Humanitarian Prize. STRIVE MASIYIWA Co-Fovnder & Patron Tsitsi Masiyiwa is an Afrlcan phllanthroplst, 50clal entrepreneur, and champion for gender equality. In 1996, she co-founded Higherlife Foundation with her husband, Strive. The foundation works across education, health, food security, and disaster preparedness to support African countries to achieve upper-middle income status. In 2017, Tsitsi estèblished Delta Philanthropies as a vehicle for impact investment and grant-making. She is the Chair of Higherlife Foundation and Delta Philanthropies. Tsitsi is also the Chair of Co-lmpact and the Chair of END Fund. As a result of her work and experience establishing and growing Higherlife Foundation over the last twenty-six years, Tsitsi has become an advisor and thought partner to universities, national leaders, and social entrepreneurs on issues of education, health, leadership development, gender, and youth empowerment. TSITSI MASIYIWA Co-Founder & chair Bernard Chidzero is a Co-founder and Managing Director at Agis Investments. Before 5tsrting Agis, Bernard was a Partner at the Monitor Group (later Monitor Deloitte) where he led the firm's advisory activities in Africa. Prior to joining the Monitor Group, Bernard established and led the International Finance Coiporation's (IFC) Advisory Services for Sub-saharan Africa. Bernard is a strong advocate for a new paradigm of philanthropy in Africa one that merges the goals and aspirations of philanthropists, corporations, governments, and civil society into sustainable solutions to Africa's poverty, economic growth, and global competitiveness challenges, BERNARD CHIDZERO Trustee 26 DELTA PHILANTHROPIES

Rudo Kayombo is the Regional Director of BRAC Africa based In Nairobi. Kenya. She has held leadership roles in national and international NGOS, including most recently as Chief Operations Off icer at Food for the Hungry IFH). Previously, she was the Executive Director of ONE Africa. Prior to joining ONE Africa, she was the Country Director for World Vision in Zimbabwe and Uganda, Director of Advocacy, Communications and Education with World Vision UK, before being appointed Regional Director for Southern Africa for World Vision International, where she oversaw nine countries running diverse development, advocacy. and emergency response programs across the region. Rudo is a human rights lawyer by profession and has a Master of Arts in Public Policy and Administration from the University of York. RUDO KAYOH80 Trustee Dr Peter Manasa Mbixvols o medical practitioner, businessman and entrepreneur. He holds a Bachelor of Science degree in Medical Sciences from Edinburgh University and a Bachelor of Medicine and Bachelor of Surgery degree from the University of Zimbabwe. Dr Mbizvo has extensive experience in the medical sector and is committed to using his experience and expertise to eontribute to the Strategic development and good governance of Delta Philanthropies. He is a member of the Zimbabwe Medical Association, the College of Primary Care Physicians of Zimbabwe, and the Private Hospitals Association of Zimbabwe. He sits on the boards of Medical Air Rescue Services, The Diagnostic Imaging Centre, Maisha Health Fund, and MEDSOLVE Ltd. PETER MANASA MBIZVO Trustee Petronello Maramba is a trained lawyer, gendèr actlvlst and a¢ademi¢. She has served in various capacities for over 25 years in the developmentsector,focusingongenderequity,faithanddevelopment and corporate culture. Previously, she worked with UNICEF, Women in Law and Development in Africa (WILDAF) and the International Labour Organisation (ILOI on academic research, which continues to provide invaluable insights on women's and girls, rights and issves. Ms Maramba is passionate about working with yovng people and is a strong advocate for equal representation ofwomen and girls. PETRONELLA MARAMBA Trustee 27 DEITA PHIIANTHROPIES

EXECUTIVE MANAGEMENT Elizabeth Tanya Maslyiwa Is # promlnent leader In phllanthropy and social entrepreneurship. She believes in and is passionate about the transformative power of education in commvnities. As the President and CEO of Delta philanthropies, Elizabeth oversees the philanthropic efforts of the Masiyiwa family. In 2010, she founded Akello. an African company that uses technology to provide learning and teaching resources to students and classrooms across the continent. In 2020, Elizabeth established the Simba Preparatory School. an early childhood center in Domboshava, Zimbabwe, to showcase a better model for early childhood education in rural areas. Elizabeth is a non- executive director on the board5 of Econet Wireless Zimbabwe and Ecocash Holdings Zimbabwe, two of the largest listed companies on the Zimbabwe Stock Exchange. In 2023, Elizabeth was appointed Commissioner ofthe Commonwealth Scholarship Commission. ELIZABETH TANYA MASIYIWA President & CEO Zvlchapèra Katlyo Is the Group Chief Executlve Offlcer IGCEO). He coordinates innovation and solution design across Delta Philanthropies, program work and investment assets. He provides leadership to and oversees program execution. He has over 26 years of experience in investment banking and project finance, corporate strategy, and development work, including building entrepreneurial capacity for holistic transformation in marginalised commvnities. He is passionate about the intersection of faith and work, promoting equal opportunity for all, alleviating extreme poverty, and sponsoring shared prosperity in previously underserved communities. ZVICHAPERA KATIYO Group CEO 28 DEITA PHIIANTHROPIES

Faithful Taruwinga serves as Group Chief Finance Officer (GCFO). She is a qualified Chartered Accountant CAIZI with 20 years post- qualification experience. She is a member ofThe Institute of Chartered Accountants of South Africa (SAICA) and has extensive Executive and Senior management experience at Liquid Intelligent Technologies London, Econet Wireless Limited. Masawara Holdings Plc, TA Holding5 Limited, and the Institute of Chartered Accounts Zimbabwe (ICAZ). She has assumed roles as the Group Director Commercial Reporting and Planning, ChiefFinènce Officer ICFOI, Company Secretary, Grovp Financial Controller and Technical Director. Her experience covers but is not limited to, Corporate Finance, Financial Management with keen focus on Treasury, Firsancial Accounting, Strategic Planning and Auditing. Faithful serves on various corporate boards and committees and chairs a Risk Committee of a listed entity. FAITHFUL TARUWINGA Group CFO Kundai is the Head of strateglc Partnerships at Delta Philanthropies. bringing extensive experience in the non-profit and development sectors. She plays a pivotal role in establishing partnerships and effectively communicating the organisation's vision. In her prior experience as the Team Lead for the Neglected Tropical Diseases Program, she coordinated mass drug administrations in partnership with the Zimbabwean Ministry of Health and spearheaded a national handwashing campaign during the COVID-19 pandemic, promoting proper hygiene practices. Additionally. Kvndai provides invalvable support to the offices of the Chair and CEO of Delta Philanthropies, contributing to overall organisational strategy and operations. Holding an Msc in Development Studies and a BA in Economics. she combines her academic expertise with a passion for philanthropy to drive positive change across Africa. KUNDAI ZIUMBE Head - strateglc Partnershlp5 29 Df ITA PHIIANTHROPIES

FINANCIAL REVIEW The funds carried forward from the prior year amounted to USSI,301,575. The income for the year under review was US$6.5 million, while the total expenditure was US$6.5 million. This resvlted in reserves of US$1.3 million, of which free reserves as of 31st December 2024, were US$463,567. Reserves Policy TheTrustees have examined the charity's requirements for reserves in lightof the main risks to the organisation. It has established a policy whereby the unrestricted funds not committed or invested in tangible fixed assets held by the charity should be between 3 and O months of the expenditure. Budgeted expenditure for 2025 is US$680,000 and therefore the target is between US$170.000 and us$340,000 in general funds. The reseives are needed to meet the workir)g capital requirements of the charity and the Trustee5 are confident that at this level they would be able to continue the current activities of the charity in the event of a significant drop in funding. The current free reserves of us$463,567 are slightly higher than the upper level, but with other commitments and plans, these are expected to reduce to the target levels over coming years. The strategy is to effectively manage the reserves in order to contain them within the set targets. Restricted funds are related to ongoing projects which are expected to be utilised over the next finaneiÈl year. Fundlng Sources The charity's funding sources ale our Patrons and like"minded development funders or aid agencie5 for the various initiatives we have committed to over the coming five years. REFERENCE & ADMINISTRATIVE DETAILS Registered Company Number 10954151 (England and Wales) Registered Charity Number 1178335 Registered Off ice c/0 Hill Dickinson LLP, The Broadgate Tower, 20 Primrose Street, London, EC2A 2EW Trustees Mrs HET Masiyiwa, Mrs R Kayombo, Dr P M Mbizvo, Ms P Maramba, Mr B Chidzero Auditors Xeinadin Auditing, chartered Accountants and Statutory Auditors, Becl<et House, 36 old Jewry, London, EC2R 8DD

INDEPENDENT AUDITOR'S REPORTTO THE TRUSTEES OF DELTA PHILANTHROPIES Opinlon We have audited the financial statements of Delta philanthropies (the 'charity') for the year ended 37 December 2024 which comprise the statement offinancial activities, the balance sheet, the statemer)t of cash flows and notes to the financial statement5, including significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice). In our opinion, the financial statements: give a true and fair view of the state of the charitable company's affairs as at 31 December 2024 and of its incoming resources and application of resources, for the year then ended; have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and have been prepared in accordance with the requirements of the Companies Act 2006. Basis For Oplnlon We conducted our audit in aceordancewith International Standards on Auditing (UK) IISAS (UK)) and applicable law. Oijr responsibilities under those standards are further described in the Auditor's responsibilities for the audit of the financial statements section of our report. We are independent of the charity in accordance with the ethical requiiements 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 responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide basis for our opinion. Conclusions Relating To Golng Concern In auditing the financial statements, we have concluded that the trustees, use of the going concern basis of accounting in the preparation of the Financial statements is appropriate. Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the charity's ability to continue as a going concern for a period of at least twelve months from when the financial Statements are avthorised for issue. Our responsibilities and the responsibilities of the trustees with respect to going concern are described irb the relevant Sections of this report. WSLiSirtW￿￿ 37 DEITA PHIIANTHROPIES

Other Information The other information comprises the information included in the annual report other than the financial statements and our auditor's report thereon. The trustees are responsible for the other infoimatior) contained within the annual report. Our opinion on the financial statements does not cover the other information and we do not express any form of assurance conclusion thereon. Our responsibility is to read the other inFormation and. in doing so, considerwhetherthe other information is materially inconsistentwith the financial statements or our knowledge obtained in the course of the audit. or othewise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed. we conclLtde that there is a material misstatement of this other information, we are reqL*ired to report that fact. We have nothing to report in this regard. Matters On Whlch We Are Requlred To Report By Exception We have nothing to report in respect ofthe following matters in relation to which the charities (Accounts and Reports) Regulations 2008 requires us to report to yov if, in our opinion- the information given in the financial statements is inconsistent in any material respect with the tiustees, repoTt; or sufficient accounting records have not been kept; or the financial statements are rbot in agreement with the accourbting records., or we have not received all the information and explanations we require for our audit. Responslbllltles Of Trustees As explained more fully in the statement of trustees, responsibilities. the trustees, who are also the directors of the Charity forthe Purpose of company law, are responsible for the preparation ofthe fir)ancial statements and for being satisfied that they give a true and fair view. and for such internal eontrol as the trustees determine is ecessary to enable the preparation of financial statements that ale free from material misstatement, whether due to fraud or error. In preparing the financial statements, the trustees are responsible for assessing the charlty's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liqvidate the charitable company or to cease operations, or have no realistlc 8lteTnative but to do so. Auditor's Responslbilities For The Audlt Of The Financial Statements We have been appointed as auditor under section 144 of the charities Act 2011 and report in accordance with the Act and relevant regulations made or having effect therevnder. Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement. whether due to fraud or error, and to issue an auditor's report that includes our opinion. Reasonable assurance is a high level of assurance but is not a guarantee that an audit conducted in accordance with ISAS (UKI will always detect a material misstatement when it exists. Misstatements cari arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statemer)ts. 32 DELTA PHILANTHROPIES

Th• •xt•nttowhleh oui procedvres are capable ofd8t8etlng Irr•gularltl¢$, In¢ludln9 fraud, Is detalled below. Id•ntlfy and 8s5•$S the rlsk ol mèterial mlsst8tement of thè flnanelal statements, whether due to fr8ud OT error, deslgn and paiform è¢Jd5t procedures responsive to those risks, and obtaln avdlt evldence that Is svfficlent and appropriate to provide a basls for Our oplnlon. The risk of not detecting a mateTial misstatement resultlngfromfraud Is hlgherthan forone resuliing from8rror. 8$ fraud may Involve¢olluslon, forgery, Intentional omlssions, mlsrepiesèntstloll$ gr the override of Internal control. Obtaln an vndèist8ndlng of Intern81 control relevant to tha audlt In ordor to dèslgn audlt proeedurès that ore appropriate in th• clrcumst8nce5, but not foT the pvrposes of expressing an oplnlon on the èffectlvèn•ss of the Company's Internal control. Evaluate th8 8pproprlat4nèss olaceouThtlng policies vsed&nd th• reasonabl•n•ssof8ceountlng •stlmatès and the related disclosures mede by the dlreetor$, Conclude on iho apptopriateness ol ihe directors, use of th• golng eortcèrn b8$ls of 8ceountlng and, basedon lh8 avdilevidencèobt8in8d,whèthera material uncertalntyexists related toeventorconditions that may ea$t slunlllc•nt doubt on the company's abllity to contlnuè as a golng eoncerh. If we cencludts Ihat a material un¢ertalnty 8xlstS, W8 are required to draw atlention in ovf auditOTS report to the related di$closL¢Te in the financial slatements or, il such dlselosuios or& Inadequate to modlfy our oplnlon, Our concluslons arè b8séd on thè audlt èvldence obtained up to the date ol our audltor's r•port. How8ver, fvture events or conditions may cause the company to cease to continue as a golng concern. Evaluate thè overall pré$entatlon, structuie and content of the flnanclèl statamonts, Ineludlng tho disclosures, and whethr th• fin8ncl81 st8tm8nt$ ￿PreSent the vnderlying tiansactions and events in mannèr that achleves lali pTesentation. A further d¢5CTlptlon of ovr iesponslbilities is avallable on th& Flnancl81 Rapo¥tlng Councll's w¢bsltè &t', hllps'.// www.frc.org.uv8uditorsr8sponsibiliti0s. This description forms part ol ovr auditor's ieport. Use of Our Report Thls r•port Is madè solgly to th8 charity's Irustees, as a bodyi In accordance wlth P8rt 4 of th8 Ch8rltl•s (Accounts and Reports) Regvlations 2008. Our 8udit work has b9en undert8ken $0 that we might state to thè charlty's tfustee5 those matlers we are reouired to slale to them In an audltcr's report and for no other purpose. To th6 fullèst èxtént pèrmltted by law, wè do not accept or assume respon51bility to anyone other th?D the charity and the charity's trustees as a bodyi lor our audlt work, for thls f¢port, or for the oplnlons we h8ve formed. H•x•l Day Bie (Honi) Fe4 Dch• (S•nlor St•tutory Audltor) For and on behalf ofXeiTradin Avdit Llmited, Statutory Audltor Chartered Aeeountants 46-48 East street Ep50m Surtay KT17 IHQ Unlted Kingdom $19notUTg.' X•ln8dln Audli Limlted Is eliglble for appolntment as audltor of the Charlty by vlrtv& of Its ellglbllliy for appointment as 8udltoT ol a comp8ny und¢r 5eetlon 1212 of thè Companlps A¢i 2006, 33 DEITAPFlllANTHIOHES

STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2024 Unrestrieted fund$ 2024 R*stri¢tod funds 2024 Total Unrestri¢ted R•$triet•d 2024 fvnds 2023 fund5 2023 Total 2023 Notes Income from: Donations and legacies 1,339.905 5,200,000 6,539,905 2,056,551 4,031,327 6,087,878 Total income 1,339,905 5,200,000 6,539,905 2,056,551 4,031,327 6,087,878 Expenditure on: ch8ritable activities other expenoliture 1,337,200 12,177 5,17S,452 6,512,652 12,177 1,863,991 4,377 3,800,479 5,664,470 4.377 10 Totsl expenditure 1,349,377 5,175,452 6,524,829 1,808,368 3,800,479 5,668,847 N•t Income/{expenditur¢) and movement In funds {9,472) 24,548 15,076 188,183 230,848 419,031 R•conclllation of funds: Fund balances at l January 2024 473,039 828,536 1,301,575 284,855 597,689 882,544 Fund b•l•n¢•s at 51 De¢embor 2024 463,567 853.084 1,316,6SI 473,038 828,537 1,301,575 The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure delive from continuing activities. 34 DELTA PHILANTHROPIES

BALANCE SHEET 2024 2023 Notes Curr•nt assets Debtors Cash at bank and in hand 12 26,125 1,412,690 26,125 1,292.128 1,438,815 1,318,253 Cr¢dltots: amounts falllng du• wlthlnone year 13 (122,164} 06,678) N•t eurrent assets 1.316,651 1,301,575 The funds of the charity Restricted income funds Unrestricted lund5 14 15 853,084 463,567 828,537 473,038 1,316,051 1.301,575 The company is entitled to the exemption from the audit requirement corbtained in section 477 of the Companies Act 2006, for the year ended 31 December 2024. The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements. The members have not required the comparby to obtain an audit of its financial ststements under the requirements of the Companies Act 2006, for the year in question in accordance with section 476. These financial statements have been prepaied in accoidance with the provisions applicable to companies subject to the small companies regime. The financial statements were approved by the trustees on /q/ao2s Mr8 H E T Ma$lylw• Trustee Company registration number 10954151 (England and Wale51 35 DEITA PHILANTHROPIES

CASH FLOW STATEMENT 2024 2023 Not•s Cash flows from op•ratlng aetlviti•s Cash generated from operations 18 120,562 420,531 N•t cash generated from investlng a¢tlvltl•$ Net cash generated from finan¢lng ¢tlvltles Net Increase In eash and ¢ash ¢qulvalnts 120,562 420,531 Cash 2nd c2sh èquivalents at beginning ol year 1,292,128 871,597 Cash and ¢ash •qvlv81ents at end of year 1,412,690 1,292,128 36 DELTA PHIIANTHROPIES

NOTES TO THE FINANCIAL STATEMENTS 1. Aeeountlng Pollel•s charity information Delta Philanthropies 15 a private company limited by guarantee incorporated in England and Wales. The registered office is c/0 Hill Dickinson LLP, The Broadgate Tower 20 Primrose Street, London, EC2A 2EW, United Kingdom. 1.1 Accountlng convention The financial statements have been prepared in accordance with the charity's governing document. the Companies Act 2006, FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Charities SORP "Accounting and Reporting by charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 1021" The Charity is a Public Benefit Entity as defined by FRS 702. The finaricial statements are prepared in United States Dollars ($1, which is the funetional currency of the charity. Monetary amounts in these financial statements are rounded to the nearest S. The financial statements have been prepared under the historical cost convention. Imodified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair valuel. The principal accounting policies adopted are set out below. 1.2 Going con¢ern At the time of approving the financial statements, the trustees have a reasonable expectation that the Charity has adequate resources to continue in operational existence for the foreseeable future. Thus the trustees continue to adopt the going concern basis of accounting in preparing the financial Statement5. 1.3 charitable funds Unrestricted funds are available for use at the discretion of the trustees in furtherance of their charitable objectives. Restricted funds are subject to specific conditions by donors or grantors as to how they may be used. The purposes and uses of the restricted funds are set out in the notes to the financial statements. Endowment funds are subject to specific conditions by donors that the capital must be maintained by the charity. 1.4 Income Income is recognised when the charity is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received. Cash donations ale recognised on receipt. Other donatlOn5 are recognised once the charity ha5 been notified of the donation, unless performance conditions require deferral of the amount. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is reco9nised at the time of the donation. Legacies are recognised on receipt or othernise if the charity has been notified of an impending distribution, the amount is known, and receipt is expected. If the amount is not known, the legacy is treated as a contingent asset. 37 DELTA PHILANTHROPIES

1.5 Expenditure Expenditure 15 recognised once there is a legal or constructive obligation to transfer economic benefit to a third paity, it is probable that 3 transfer of economic benefits will be required in settlement, and the amount of the obligation can be measvred reliably. Expenditure is classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. shared costs which contribute to more than one activity and suppoit costs which are not attributsble to a single activity are apportioned between those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges are allocated on the portion of the asset's Use. 1.6 Cash and cash equivalents Cash and cash equivalents include cash in hand, deposits held at eall with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities. 1.7 Flnancial instrum•nts The charity has elected to apply the provisions of Section 11 '8asic Financial Instruments, and Section 12 '0ther Financial Instruments155ues' of FRS 102 to all OF its financial instiuments. Financial instiuments are recognised in the charity's balance sheet when the charity becomes party to the contractual provisions of the instrument. Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously. Basic financial assets 8asic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes 3 financing transaction, where the transaction is measured at the present valve of the fvture receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised. Basic financial Ilabilities Basic finaricial liabilities, including creditors and bank loans are initially recognised at transaction piice unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised. Debt inst¥vments are svbsequently carried at amortised cost, using the effective interest rate method. Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of operations from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are reeogni5ed initially at transaction price and subsequently measuied at amoTtised cost using the effective interest method. Dere¢ognltlon of financial liabilities Financial liabilities are derecognisedwhen the Charity'scontractual obligations expire or are discharged or cancelled. 1.8 Employee benefits The cost ofany unused holiday entitlement is recognised in the period in which the employee's services are received. Termination benefits are recogni5ed immediately as an expense when the charity is demonstrably committed to teiminate the employment of an employee or to provide termination benefits. 38 DELTA PHIIANTHROPIES

  1. Critical Aecountinq £stimat•s And Judg•m•nts In the application of the charity's accounting policies, the trustees are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates. The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.
  2. Income From Donations And Leg*clei Unrestrrcted Restrlcted funds 2024 fund$ 2024 Total Unrestricted 2024 funds 2023 R¢strl¢t•d funds 2023 Total 2023 Dtsnations and legacies 1,339,905 5,200.000 6,539,905 2,056,551 4,031,327 6,087,878
  3. Exp•ndltur• On Charitable a¢tlvltl•s Sustalnable Advo¢a¢y & Livel¢hoods Cap#¢lty 2024 2024 H•althcare Educatlon Tot•l 2024 2024 2024 Direct costs Grant funding ol activities (see note Sl 728,804 3,869,057 671,475 5,269,336 share of support and governanee ¢osts l$ee note O) Support Governance 63,252 53,503 189,513 160,308 711,750 64,990 964,515 278,801 728,804 116.755 4,218,878 1,448,215 6,512,652 Analysis by fund Unrestricted funds RestTiCted lunols 728,804 116,755 349,821 3,809,057 141.820 1,306,395 1,337,200 5,175,452 728,804 116,755 4,218,878 1.448,215 6,512,652 39 DEITA PHIIANTHROPIES

Prevlous year: Sustalnabl• Llv•llhood5 2025 Dlsaster Advocacy & Relief Capaclty 2023 2025 H•alth¢ar• Edu¢#tlon Total 2023 2023 2023 Dlr•¢t costi Grant funding of activities (see note 51 985,000 415,000 839,625 1,694,957 446,927 4,381,509 shar• of svpport and gov¢rn•n¢• ¢osts {5•• note 61 Support Governance 169,718 51,126 588,593 249,922 82,585 113,773 27,244 1,122,006 160.955 1,205,844 1,003,593 1,172,132 1,835,974 446,927 5,664,470 Analysls by fund Unrestricted funds Restricted lund5 205,844 1,000,000 1,169.773 2,359 488,374 1,347,600 1,863,997 3,800,479 1,003,593 446,927 1,205,844 1,003.593 1,172,132 1,835,974 446,927 5,664,470 5. Grants Payable Su5talnable Llvellhoods 2024 Heèlthcère 2024 Edueatlon 2024 Total 2024 Grants to Instltutlons.. Education Sustainable Livelihoods Healthcare other 671,475 671,475 714,673 3,869,057 14,131 714,073 3,869,057 14,131 728,804 3,869,057 671,475 S,269.336 Previous year: Svstalnabl• Llvtllhoodi 2023 Disaster Rellef 2023 Advocaey & Capa¢ity 2025 Healtk¢are Edu¢otlon Total 2023 2023 2023 Grant$ to Instltvtlons: Education Sustainable Livelihoods Disaster Relief Advocacy & Capacity Healthcare 446,927 446,927 985.000 415,000 839,625 1,694,957 985,000 415,000 839,625 1,694,957 985,000 415,000 839,625 1,694,957 46,927 4,381,509 40 DEITA PHILANTHROPIES

  1. Support Cost$ Allocat•d To Activiti•i 2024 2023 Staff costs office Éxpenses Bank charge5 Governance costs 951,449 7,121 5,945 278,801 1,095,318 19,545 7,144 160,954 1,245,516 1.282.961 Analy5ed between: Sustainable Livelihoods Disaster Relief Advocacy & Capacity Healthcare Education 220,844 588,593 332,507 141,017 116,755 349,821 776,740 1,243,316 1.282.961 2024 2025 Governance costs comprls¢: Audit fees Accountancy Leg21 and professional 5,805 264,022 8,974 7,605 119,338 34,011 278,801 160,954
  2. Net Mov•m•nt In Fund¥ 2024 2023 The net movement in funds is ststed after charging/lcreolitingl'. Fees payable lor the audit of the charity's financial statements 5,805 7,605
  3. Trustees None ol the trustees lor any persons connected with theml received any rernuneration or benefits from the charity during the year.
  4. Employ••s The average monthly number ol employees during the year was.. 2024 Number 2023 Numb•r UK charitable activities Recharged Charitable activities Totsl Employment ¢osts 2024 2023 Wages and salarie5 951,449 1,095,318 The number of employees whose annval remuneration was more than $60,000 is as follows.. 2024 Nvmber 2025 Numb•r $90.001- $100,000 $180.001 $190,000 41 DEITA PHIIANTHROPIES

io. other Exp•nditur• Unr•stflcted Unr•stricted funds funds 2024 2023 Financing c05t5 12,177 4.577 11. Toxation The chaiity is exempt from tsxation on its activities because all its income 15 applied lor charitable purposes. 12. D•btori 2024 2023 Amounts f811ing due within on• y¢•v. Other debtors 26,125 26,125 13. Cr•ditors: Amounts Falling Due Withln One Y•ar 202 2023 other creditors A¢¢ruals and deferred income 735 121,429 913 15,765 122,104 10.678 14. Restrleted Funds The restricted funds ol the charity comprise the unexpended balances of donations and grants held on trust subject to specific conditions by donors as to how they may be used. At l Janvary 2024 Incoming resources Resources expended At31 De¢¢mb•r 2024 The EtMA Philanthropies Rockerleller Foundation VAN Patrons NTDS Program Support 324,479 504,057 3,200,00(> 12,671.3951 1504,0571 2,000,000 12,000.0001 853,084 828.53fj 5.200,000 15,17S,452) 853,084 Previous year.. At 1 January 2023 Incomlng res¢ur¢¢s Resources ¢¥p•nd•d At31 December 2023 The ELMA philanthropie5 Gender Justice Fund Rockerleller Foundation VAN The END Fund 4,000,000 13,675,521) {2.3591 191,2731 131,327) 324,479 2,359 595,330 504,057 31,327 597.OB9 4,031,327 (3,800.479) 828,537 828,536 42 DELTA PHIIANTHROPIES

  1. Unr•stri¢t•d Funds The unrestricted Ivnds ol the charity comprise the unexpended balances ol donations 2nd grants which are not subject to specific conditions by donors and grantors as to how they rllay be used. These include designated funds which have been set aside out ol unrestricted funds by the trustees for specifie purposes. At 1 January 2024 In¢omlng re50urc•s Rosourc•8 expended At31 D•cemb•r 2024 General funds 473,039 1,339,90S 11,349.3771 463.567 Prevlous year: At 1 Janvary 2023 In¢omlng r•stsurc•s R•$ovrc•s oxpended At31 December 2023 General funds 2B4.855 2,OS6,SS1 (1.808.368) 473.038 Warning.. Balance c/f Irorn prior period does not equal balance b/[ in current periocl 473.039
  2. Analysis Of N•t As#•ts B•tw••n Funds Unr¢strletèd fund5 2024 R•8tricted funds 2024 Tot•1 2024 At 31 December 2024: Current assets/lliabilitiesl 463,567 853,084 1,316,651 463,567 853.084 1,316,651 Unr•5trl¢t•d funds 2023 Restricted funds 2023 Tot•1 2025 At 31 De¢ember 2023.. Current assets/iiiabilitiesl 473,039 828.536 1,307,575 473,059 828,536 1,301,57S P•r bBlance sheot Bèlanc• to allocate 473,038 (1) 828,537 1,301,575
  3. Related Party TrBnsa¢tTons There were no di5closable related party transactions during the year12023- none).
  4. Cash Oenerat•d From Op•r8tions 2024 2023 Surplus lor the year 15,076 419,031 Movements in WOTklng eaplt•l.. Increase in creditors 105,486 1,500 C8sh generated from oper•tlon$ 120,562 420.531
  5. Analysis Of Changes In Net Funds The Charity had no tn)terial debt during the year. 43 DELTA PHIIANTHROPIES