2021-12-31-accounts

Docusign En¥eW10.. 068D4A5F-80F24Eo￿B2F￿6s￿EAO7A62B THE ELEPHANT PROTECTION INITIATIVE FOUNDATION REPORT OF THE TRUSTEES AND AUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEM8ER 2021 Registered Company Number. 11594608 (England and Wales) Registefed Charity Number: 1182805 ABLWIEtr16R 2110912022 COMPANIES HOUSE

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DOc￿SIgn En¥elcw ID." D6e04A5F.80F24Et#>83FS.865AEA07Pfj2B THE ELEPHANT PROTECTION INITIATIVE FOUNOATION TRUSTEES. REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021 CONTENTS Page Legal and Adminislralive DetaÉls Trustees, Report Independent ALxlitorfs Report Statement of Financial ACtIMt￿S 14 Balance Sheet 15 Statement of Cash Fkiws 16 Notes lo the Financial Slalemenls 17

DocuSv3n En￿Ope 10.. ￿BD4A￿.8Cf24E￿B3Fw5AE*l17A828 THE ELEPHANT PROTECTION INITIATIVE FOUNDATION LEGAL AND ADMINISTRATIVE OETAILS .FOR THE YEAR ENDED 31 DECEMBER 2021 Status COM￿nY Limrted by Guaranlee Governing document Trust Deed dated 15 January 2013 Company number 11594608 ChaTity number 1182805 Registered office Bank House Southwick Square Southwick West Sussex BN414FN Operational address Bank Hcwse Southwick Square Southwsck West Sussex BN414FN Bankers Hampden & Co PIC 9 Charbtte Square Edinburgh EH2 4DR Auditors Haysmacintyre LLP 10 Queen Slreel Place London EC4R 1AG

DoDJSgn Envelope ID.. [W)￿F.8(￿24E￿B3F&wlEA07A62 THE ELEPHANT PROTECTION INITIATIVE FOUNDATION TRUSTEES'.REPORT FOR THE YEAR ENDED 31 DECEMBER 2021 . The Trustees, who a￿ also Directors of the charity for tr purposes of the Companies A¢t 2C#%. present their ¥eporl with the financial statements of the charrty for the year endecl 31 December 2021. The financial slalemenls comply wilh the Charibes Act 2011. the Companie5 Act 20C6. the Memorèndum and Articles of Association. an(1 A¢coiJnling and Reporting by Chaiities." Slalemenl of Recommended Practice applicable to charrties preparing theiraccounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of {FRS 1021 (Second Edition} effectNe 1 January 2019. OBJECTIVES AND ACTIVITIES Purpose: The Elephant Protection Initiative Foundation's IEPIFI objectives, as sel out in rts governing documents. are to promote for the benefit of the public the conservats.on and protection of elephanls throu9h th& implementation of the Elephant PrOtect￿n Inriiative IEPI) The Elephant Protection InitiatNe is an Afryn-18d initiatNe eslablishe(1 at the London Illegal Wikllrfe Trade IIWTI Conference In 2014 by the leaders of fNe African Count￿.. Botswana. Gabon, Chad, Tanzania. and Ethiopia. 11 has since grown to a unique allk8n¢e of 21 Afrun membef Stales dedicated to conserving their elephant$. The EPIF is mandaied as the Secretarial to support Ihe wnplementation of the EPI. This includes committing lo irnplementing the African Elephant Adion Plan IAEAPI. a bluepnnt to save the Species agreed.by all elephant range states in 2010.. putting ivory stockpiles beyond economic use". closing domeslic ivory markets", and rnaintaining the 1989 inlemalK)nal ban on the ivory trade. Addrtionally, the EPI Foundation Viston 2030 focuses on the mrtlgation and preventw of humanlephanl conflict (HEC), In rec¢>anilion of the changing threats to Africa's elephants. Summary of main activities: Recognising thal it is essential to accrue expertise across a bioad base to achieve the EPI'S objeGtives. Ihe EPIF brings member states, non-member slales. NGOS. IGOS, and the private sector together in the pursuit of the aims of the EPI and the long-lerm prole¢tion of elephants. This includes the provision of technical and financial support, in accordance wrth the govemance prctesses of the EPI. Stale en emenl & collabootion." The EPIF mainlains a continuous dialogue and a working relatK)nship with the govemmenls of EPI member states, from Heads of State. through to Ministers and technical practitioners. This work is facilitated through an appointed National F(xal Point INFPI in each EPI rnember slate. Engagement Involve5 counlry-specific objectives. aims lo leverage, and St￿ngthen. support for the EPI, follow up on progress to meet EPI cijmmitments, and develop a work pLan for ftiture actwrties. The EPIF also engages wrth non-EPI member stales that have expressed interest, lo recruit new members to the EPI. The EPIF believes there is a critul need for an cyen. flank. and honest conversation amon9St Afr￿an elephant range stales on shared challenges. along wrth an enhanced exchange of experience, and mutual technical and polilical support. To this end. the EPIF convenes countries and key Stakeholders. sharing knowledge, experience. and le¢hniques in addressing common challenges and factlilaliny the adoption of agreed p￿icY position5. The EPIF benefrts fr¢Jm the ad¥￿e and experience of rts Leadership Coun¢il - a group of eminent African politicians and conservationists which Includes the Fomer President of Botswana. the Former Prime Minister of Ethiopia, Ihe First Lady of Kenya, the First Lady of Sierra Leone. and Gabon's Minister of Water, Forests, the Sea, and Environrnenl.

Oocusign Envelope ID.. 068D4ASF.80F2.4EOI>83F>865EA07A62B THE ELEPHANT PROTECTION INITIATIVE FOUNDATION TRUSTEES, REPORT FOR THE YEAR ENDED 31 DECEMBER 2021 The EPI in inlemational fora.- The EPI, with rts conlinent-wde membership. Leadership Counul. and supportive FourKlation (acfing as Secretariatl, is uniquely placed to be the plaffomi through which Africa can articulate ils needs and meet ils goals with fftspect to elephant eonseNation. To help achieve this. the EPIF attends and ensures the representation of EPI member ststes at key international e4)nseryatJn fora. as deemed necessary to the advancement ol the EPI. The EPIF is a proactive voice in Ihe international media on elephant conservation issues and deliver5 high- impact communications campaigns to raise further awareness of the EPI and the challenges facing Africa's elephants. The intemalional ban on iv trad6 & closurp of domestic mathets." The continued ￿gaI trade in ivory, whether domestic or international. threatens the future of Africa's e￿phants by perpetuating demand and serving as a cover for illegal trade, which would lead to an upsurge In poaching. The EPIF has continued lo campaigrh for the closure of remaining domestic ivory markets, assist governments in this pfo¢ess when requested. and ad¥¢)¢ale for maintsining the inlemalional ban on trade in elephant ivory. . Securin ivo Stockpiles of ivory and other wildlrfe producls accrue frThM Carcasses found in the wikl w seized from traffi¢kers. The storage and management of th&se objecls are often woefvlly inadequate- enabling theft. or the neglect of evidence that is essentkgl to securing wildlrfe crime persecuth)ns. The leakage of ivory back into the illegal market, and the weak enforcement of wildlrfe protection laws, perpetuate the ivory trade and the continued slaughter of elephants. To address this and meet the EPI commitment of placing Ivory beyond economic use. the EPIF provides support in stctkpile management for ivory and other wildlrfe products. 'in¢luding'. Implementation of a beswke Stockpile Management System ISMS) - a dpjital tool for secure storage of invenlory data of goveinment-held ivory stocks. The EPIF conducts training on the app and technology, di5seminales resources, and ongoing troubleshooting to enable continued independent use. The SMS helps to strengthen law enforcement efforts and facililate the annval inventory of stockpiles lo comply with the requirements of the Convention on Intemat￿naI Trade in Endangered Species ICITESI. The SMS protocols. tools. training, and technical support have been accredifed by CITES and have been used widety across EPI member stales. Achieving Gold Standards in Ihe management of Nory and other wildlrfe prc*lucts. Tht5 includes a loolkil outlining requirements for PhYs￿al storeroom securrty, storeroom management, record keeping and movement of ivory. as well as techni¢al and financkgl support to make storeroom improvements and provide capacrty building. Additionally, the IMp￿mentat￿)n of stronger Standard Operating Procedure5 . (SOPS) lo enable transparent, secu￿. and effective management. The EPIF has developed a surte of resources arKJ training tools to support Stockpi￿ management, freety available and in multiple languages. Develo National Ele hant AC1K￿ Plans.. Nalional Elephant Action Plans INEAPS) are 10-year elephant conservation strategies, developed by national governments with technical and financial assistance from Ihe EPIF, to support the implementation of Ihe African Elephant Action Plan at the national level. NEAPS are practul lools for counlries lo idenlty and prioritize actions to protect their elephants that require Imp￿ment8110￿. Importantly, NEAP5 provide framework through which financial and technical support ean be-applied for. Increasing awareness of conservation . issues, strengthening regional and national knowledge and cooperation. and improving bcal communrties. collaboralK)n in the conservation of African elephants are integral to NEAPS. wh￿h arealoned ￿th the Unrted Natb)n's (UNI Sustainable Development Goals ISDGsl.

Docusiw En¥elope10. o6804￿￿oF24EO￿83F￿65AE￿17AS28 THE ELEPHANT PROTECTIOM INITIATIVE FOUNDATION TRUSTEES. REPORT FOR THE YEAR ENDED 31 DECEMBER 2021 Addressin Human-Ele hant-conllict. Looking across the horizon to 2030 orto 2050. it is Africa's rapidly growing human population and economic growth, wrth new and expandin9 human settlemen15, rebted infrastrudure. and conversion of land to agriculture, that Itx)m as the largest threats lo elephanls. As a result, we have witnessed a dramatic growth in HEC across Africa. as people arKJ elephants compete for land and dwrhdling natural Tesources. If existing conflicts are not resolved, and fLrture conflicts avoided. the prospe¢ls of Africa's elephants thriving across their range in 2030 are b￿ak. In November 2020. the EP'IF announced a focus on the miligation and prevention of humanlephant conflict, in recognition of the changing threats to Africa's elephants This involves raising the level of public and. polrtical awareness of HEC; advocating for building elephant habrtat considerations into decision- making processes for policy. spatial and development pLgnn(ng". building a netswjrk of experts. partners, and donors,. Identif￿atiOn of the undeflwng drNers of the conflict.. and dep￿)￿rnent of locally re￿Vant HEC Mrt￿ali0n and prevention efforts. Public benefrt.. The trustees have considered the Chariiy Commission's gumdance on public benefii under Charriies Ad 2011 and this report sets out the woik perfo￿ed by the charity in furtherance of the public benefit. Fundraising.. The EPIF has an ad-hoc approach lo fundraising aThJ spent £18.84612020.. £3.179) directty on fundraising during the year Of this, £nil,12020". £1.9061 was spent consutting a prOfesS￿nal fundraiser. The EPIF does not have dedicated fundraising support and rel￿S on the Trustees and CEO to liaise wrth hNJh-level donors. 'As.a result of this 15OA of the CEO'S salary has been apported lo fundraising. There have been no Com￿aIntS during the Current or previous year in relation to fundraising. Grant-making pollcy: To ensure the. appropriate use ol EPIF sub-giant funds and compliance wth applicable national and international laws and consideralion5, Ihe EPIF operate5 a granl selection and monrtoring process. The EPIF will evaluate each sub-granlee's risk of non<cKnpliance with wulalions, including Federal stalules, and the terms and condrtions of the sub-grant before su￿aWard Agreements are issued. This includes the following steps. Registration form to apply for funding {with supwliThJ dccumentationl. 2. Risk assessment process for the selection of sub-recipients. The risk assessment addresses several lopr a￿0$ that include prior grant management expernce. financial management, and personnel. Based on Ihe conclusions ol the risk assessment. the EPIF will determine whether special conditions are needed because of increased risk. 3. Grant agreement and grant terms and condrtions. whth establish the grant condrtions. must be signed by both parties. 4. Regular due dilvJence and adherence lo the grant agreernent monrtoring throughoLrt the lrfe of the grant. The frequency ol monrioring will depend upon the level of risk delennined In the Due Diligence Forni. The EPIF ￿11 monitor the activrties of the sub-grantee as necessary lo ensure thal the sub- award is used lor authorized pucpo$es. in compliance w.rth regulations. and the lems and conditions ol the SUb-a￿ard." and that 5ub-award objectives a￿ being achieved. Delails of the reporting requirements and monf(oring are outlined in the Granl Agreement and Terms aTrJ Conditions. and the project Monrtoring & Evaluation pLan.

Docu&gn Envelope ID.. 068D4A5F.wF24Eo￿B3F￿w1FAO7A62B THE ELEPHANT PROTECTION INITIATIVE FOUNDATION TRUSTEES. REPORT FOR THE YEAR ENDED 310ECEM8ER 2021 ACHIEVEMENTS AND PERFORMANCE Growth ofthe EPI.. Since its launch al the London Conference on IWT in February 2014, the EPI ha5 grown from 5 to 21 Member slates, delemiined to end the killing of elephant5. The majorrty of Africa's surviving elephants l¢ve In EPI member state5. which span the continent, from east lo wesl. from savannah to dense forests. The EPI has brought togelher rn0￿ than 40 of Ihe wthd'$ reading NGOS and IGOS v4ho have publicly de¢lared their support for Ihe EPI'S aims. The EPI FOundat￿n has been established as the sole Secretariat, whose expertise has grown to a dedicated team of 9. with a presen￿ In the UK, West Africa. the Hom of Africa. Easl Africa, Southern Africa, and Europe. maximising capacty wthin a Cost-elf￿1ent framework to deliver direct support lo member states A Leadership Council lo the EPI FoUrKlal￿n has been estsbltshed, ccrfnpri5ing a group of eminent African polrticians and conservalK)nists C￿ation of a surte of resources through the EPI website. providing partners and governm8nl$ free access lo effective tools and best practice gui¢Jance. available in mumiple languages. Through its growth in size and status, the EPI has brought African voices lo the fore, creating an African-led solution to the elephant cnsis and a partnership-based approach. African countries aro responsible for managing their elephant p¢)puLgtions, In line with internalional obligations, and solution5 to these challenges must be African led if they are to succeed. l Advoca The EPI is unKiuefy placed. through ts hJh-￿vel support. extensive ¢onneth'on$ with donors. Conservation organisalions and the internalKJnal media, and has acted as a conduit between Afnca and the rest of the world, to seek solutions to the challenge5 facing Africa's elephant populations. The EPI FoUndat￿n has many time5 convened rnwnber states at international conferences and meetings, ranging from hvJh-level P￿sidentIal meetings lo technical workshop5 for wildlife departments. Addrtionally. the EPIF has facililaled the appearance of key stskeholders in the intemational media. raising global awareness of the EPI and its goals. This has enabled greater regional wrafioTr. Soulh-south knowledge exchange. adoption of common policy posr(ions, raised public and political awareness. and supported wider biodiversity protection. in Ilje internat￿￿31 moratorium and closin domestic maf The EPI member states and partners. acting together to bring about" a shared desired outcome. have led with a strong and vocal stance for the maintenance of the intemational ivory ban and had a major Impact on c1051ng the legal ivory trade and domeslic Nory mathet. Consequenlly, this has reduced the prices of ivory and incentives for elephant poaching and ivory smuggling.. an organised crime that destroys elephant populations and fornen15 instsbility. Huge Strides have been made. and il is difficum lo envisage Ihe retum of the intemalional ivory trade. Despite this we know we cannot be cOmpla￿nt. and there S￿ trrAJbh'ng signs of an in¢￿aSe in elephant poaehing for ivory. particularly in Wesl and CenlTal Africa. Suc￿Ssful advoca¢y has been undertaken for ￿501￿110n$ on dLneSt￿ ivory matl(et closure lo governments and at key international Conservati￿ confetences ￿clUdIng CITES and International UnK)n for Conservation of Natu￿ IIUCNI summits. The EPIF provides domestic closing protoco￿, enablin9 member 5tstes to plan and implemenl.the closure of their d(mneSt￿ ivory mad(ets. Cruck?I breakthroughs were achieved for the Closu￿ of major consumer marf(ets with the bans of ivory sale$, by the United Slates (US). China. Hong Kong. Taiwan, Australw, Singapo￿, and the European Union IEU) instiging a consulialion process longoingl.

. DO￿lsign En¥eloFe 10.. D680￿F.ecf24EO[￿B)F586SA£A07Nfj2B THE ELEPHANT PROTECTION INITIATIVE FOUNDATION TRUSTEES. REPORT FOR THE YEAR ENDEO 31 DECEM8ER 2020 The EPIF played a Signrf￿ant role in the introduCt￿n of the Unrted Kingdom IUKI Ivory kl 2018. including an online campaign helping to generate one of the largest responses to a DEFRA consultation, wh￿h came into effecl eartier this year. An National Ele hanl ACt￿n Plans Creat￿n of Standards & GU￿elIneS for the devebpment of comprehen$Ne. budgeted and time- scaled NEAPS. freely available in muttiple languages. 8 EPI member states have finalized NEAPS wrth IMplementat￿n Plans and budgets develope¢J through inclusive stakeholder workshops. for Ethiopia, Kenya, Uganda. Chad, Angola, Gabon, Nigeria and Malawi. Each NEAP identifies what the respective country wvires to protect ils elephants, the priority projects. and the resource gaps-whlch await the support ol the international community. Currently in devebpment are Ihe NEAPS of Con90 Brazzaville, Libena,, and C6te d'lvoire. Key to this $upp¢yl 1$ the alignmenl of NEAPS wth the UN'S SDG$. supw1ing sustainable livelihoods for local communities and the harmonious coexistence of elephants and people with herds able to'travel across their range. Thereby protecling a diverse range of wild animals and plants, combating climate change. and supporting local Iwelihoods. The EPIF also provides an advisory role lo fa¢ilrtate short and lon9-tem resour￿ mobilisalion of NEAPS, including through advancing successful conservation governance models. ivo nd economic use throu h the effectNe man menl ofstoc es_' The EPSF has developed. and widety disseminated across the continent. Ivory Inventory. Protocol and Management Technology Guwjelines. for conducting a CITES-approved inventory of wildlife produels. freely available in multiple language5. The design and implementation of a digitsl Stctkpile Managemenl System. lo support the real-time management of ivory and other vrildlrfe products. s¥ith acknowledgement from the CITES Standing Commrttee meeting In November 2017, and infomiation dccuments available on the CITES website. 856 people participated in training 5es510ns on the use ofthe SMS to date- on inventory techniques. SMS use and the Administration of the SMS. administrator. and user Iraining courses. 120 smart tablets have been promded to government and NGO partners for the SMS. 14 African countries have utilised the SMS. and 11 have up-tQ-date inventories and are able to report lo CITES in lime for the annual 28th February deajline. The Best Pradi¢es & Gol¢J Standards for the Management of Wrldlrfe Products toolkit has been developed and disseminated across Africa. This ou115nes the minimum baseline standards and the best practi￿ 'Gold Standards. for the management of ivory and other wihllrfe products The toolkit includes a Gold Standard Assessment App - a digrtal app for as5e55ing storerocrfn security and management to infomi improvements needed. 8 countries are currently receiving support from the EPIF to implement the Gokl Standards for stockpile management. The benefits of a rcA)ust slo¢kpile management system include". Reduce5 risk of corruption and leakage of wildlife products into illegal trade Leads lo more successful prosecutorial capabilrtie5 Foster$ inler-agen¢y co1L8boral￿n and improves ¢onfiden¢e in govemment instilulKsns and law enforcement and therefore relationships between the authonlies and civil society. Supports cotsntries in reporting at a nat￿￿al and global commrtment level. PLANS FOR THE FUTURE Thanks to the activities and collatK)rative efforts of member states and the EPI partners to achieve the EPI goals, dramatic progress has been achieved. Seven yeats on, the pri￿S of ivory have dropped substantially, an International ban on the ivory trade remains in force, signrficant domestlc Nory markets have Closed. and a capabilityto monrtor evidentkilly government ivory 51ockpiles ha5 been developed and deployed. Crucially, poaching for ivory has ￿duCed in some key areas. and sorne pcpulalions are beginning slowly to recover. The EPI Foundation has been established as the legal enlrty mandated to be the fomial secretarial of the EPI.

DocuSi9n EThvdope10." N004A5F-80F24E￿B3FS465EAO7A62e THE ELEPHANT PROTECTION INITIATIVE FOUNDATION TRUSTEES. REPORT FOR THE YEAR ENDED 31 DECEM8ER 2021 The EPI Foundation will continue lo provKJe rts core support lor stockpile management and achieving gold Standards in the management of Nory and other wildlife prcAfjucts. and the development of NEAPS. These are lundamental pillars of the EPI. Bul rf * want lo secure the futu￿ of Afcica's elephants, we musl do much more. In 2020, a consultion process was undertaken by the nv•V CEO. John Scanlon AO, working with the EPI Foundation team. the Leadership Council and the Foundation'5 Board of Trustees, to examine how the Foundation can best support EPI member states and partners wrth elephant conservatbon in a post- COVID-19 world. Analysing the work of the EPIF to dale. rts strengths, and weaknesses. aThJ hN the Challenges facing EPI member slates and their elephant populations have adapted The resutt Is a renewed Vision and narrative for the EPI Foundation. titled 'Looking Beyond Ivory- the EPI Foundation to 2030'1'lhe VisK)n'l. In October 2020 the EPIF team set aboL+t an engagement process wrth the EPI Council of Ministers and National Focal Points on the new Vision 2030, met wrth W￿espread approval, and personal letters of support from EPI Ministers. Going foTwaTd, the EPI FOundat￿n will galvanise support for al EPI member states, to help them rnanage and avoid human-wildlrfe confl¢ct IHWCI and enstjce the hamionhjus coexistence of elephants and people 10 2030 and beyond. The resolution of HWC is an integral part of the AEAP and the related NEAP5. The EPI Foundation will further devel¢Jp its capacrty in this area, establishing a Human-Elephanl-Confli¢l Evaluation and Support Tearn Ilhe HEC Team.), a 5rnall interdisciplinary team created lo support EPI member slates miligale and p￿vent IHECI. .There are already HEC mitvJatbM pr(4ect$ in many parts of Aff￿. but the continent needs a more coordinated and mutually supportive approach. The EPI offers this opportunity. 11 will encourage the deployment ol existing and new lechnologies and techniques across the Continent lo address HEC, and to support spatial planning. FININCIAL REVIEW RÈvlew of the year: Total income for the year was £1,007,04512020'. £733,268, including £454,901 in nel assets tonsferred Irom St¢Jp Ivory). The vast majority of thi5 income was donatsons and grants received. The EPI Foundation worked wilh len re51ricled gran15 in the year. these granls support our government partners to implement ' Ihe aims of the EPI Foundalbon {oullined above). The EPI Foundation has had continued success irb 2021 in applying for and receiving further restricted funding. The EPI Foundation's expenditure on charilable activities for the Financial Year was £939.797 12020.. £701,356), including support costs of £81.864 12020.. £75,395). Dunng the year the EPI Foundation maintained close conlrol of operalional cosls. Exarnp￿s of c051-saving measLFres were the use of the UK government furkjugh scheme, restricting international travel. reducing fixed costs, and othe￿ise ensuring Ihal value for money is achieved in al areas. The Charity's reserves al the year*nd We￿ £250,119 12020." £201.7171. comprising £111.802 12020.. £96.7751 reslricled funds and £138,317 (2020." £104.942) unrestrtled funds. The uniestricted feserves represent the Charity'5 free reserve5.

Docusiw En¥elope10." D6804A5F4CF24EOW5.WEA07A628 THE ELEPHANT PROTECTION INITIATIVE FOUNDATION TRUSTEES. REPORT FOR THE YEAR ENDED 31 DECEMBER 2021 Reserves policy: The Trustees recoJnise the need lo have sufficient Urt￿$tr￿fed funds held as a reseNe lo ensu￿ underlying stability should the Chartty face an unexpected decline in income streams. unexpected cost increases or the need to respond to a Change in its environment (such as COVIDI. Accordingly, the level of unrestricted reserves Ihat Ihe Trustees believe to be appropriale stands ai £150.C￿￿ Icirca 3 MC￿lh5. funding}. The Trustees believe this to be appropriate as rt ts Suff￿lent to protect the charity against a fall in income. but not loo mu¢h that rt would impa¢t the Chanty's abilty to perform rts a¢b'¥ities. The current level of unrestricled reserves at year-end stands at £138,31712020'. £104.9421. This Is slightly below Ihe target level of reserves., however, it is only a small shortlall and gNen the increase on the prior year the Trustees deem this lo be sufficient. Principal risks and uncertainties: The EPIF, with the con51derable and dNerse experEnce and networks of rts Board of Trvstees. Advisory Panel, staff. consultants and other supporters. is well placed to deliver thi8 project work - and although no steps can be taken to secure against all nsks in their entirety. they are aware of the various risks inherent in the lield and risks are raised at board meetsng5 where relevarbt p￿￿S are reviewed. COVIO-19 continues to impact our activities. and we expect this will continue until a vaccine is widely available in EPI member states. Despite numerous challenges, the EPI Foundation has managed lo adapt to new ways of working and rnainlain strong relationships with EPI membe( stales and partners. It has placed the EPI in a strong posrtion to support the prevention and mi(igation of HEC and be the ptatlom through which Africa can articulate its needs and meet its goals in ekphant conservation. The EPIF'S wr)rk d(*s rely on the wll of our govemment partners to maintain conservation efforts as priority and to deal with illegal wildlrfe trade wthin and across rts borders. and on the interest of private and bilateral donors in the cause. Our ongoing thought le￿erShip on the wider hurnanrtarian, ec()nomi¢ and governance Issues mrtl9ates the risk of this ¢ommtrnent svbsiding and is a key aspect of our overall aim. At each meeting. the Board approves ar￿ monrtors the budget and income forecast, as well as reviewing an update on the Income and eXpeAdrtu￿ in the interim since ihe previou$ meeting. There are security risks thal exist in many countries in wh￿h the EPIF operates and lo which 51aff and eonsullanls travel for work. The EPIF team and Board membets that a￿ requested to travel are selected for their roles based on Iheir familiarity with these risks - bul will also be briefed on situations specrfic to thwr destination.

Docuslgn En¥lcye io". fM04A5F.80F24EO(￿￿￿sS￿£￿7Nb2B THE ELEPHANT PROTECTION INITIATIVE FOUNDATION TRUSTEES, REPORT FOR THE YEAR ENDED 31 DECEMBER 2021 STRUCTURE, GOVERNANCE AND MANAGEMENT Typè of governing document: Memorandum and Artics ofA$s￿latIon How is the charity constituted.. Pnvate kn"mrted ctynpany Trustee selection methods: Election piocess." 1. The Charity may by ordinary reS￿irti0n'. 1.1 appoint a person who is willing to act to be a director.. and 1.2 delemiine the rotation in which any additional directors are to ￿tIre. 2. No person other than a director retiring by rotstton may be appointed a director at any general meeting unless. 2.1 he or she is recommended for reelection by the directors" or 2.2 r￿1 less than fourteen nor than thirty-five ¢￿ar days before the date ol the meeting, the Charity is given a notice that". a) 15 signed by a member entitled to vote at the meeting., b) states the memÈers' intention to propose the appointment of a person as a director., ¢). contains the details that, if the person were to be appointed, the Charity Would have to file at Companies House., and d) is signed by the person who is to be proposeo lo shthii hts or her wllingness to be appointed. All members who afe entitled lo receive not￿ of a general rneetsng rnusl be given not less than seven nor more Ihan twenty-eight clear days, nolice of any resolutTon lo be pul to.the meeting lo appoint a director other than a director who is to retire by rotation. 4. The d1￿clor$ may appoint a person who is wlling to act lo be 8 director. S. A al￿¢10r appointed by a resolution of the other directors must retire al the next annual general meeting and must not be taken into account deleirriining the diredors who are to retire by rotation. 6. The appointment of a director. wthelher by the Charity in a general meeting or by the other director5, musl not cause the number of directors to exceed any number fixed as the maximum number ol directors. Names of the charity trustees who manage the charity: Alexander Rhodes, lan Craig OBE. Sanjayan Muttulingam. Day-lo-day operational control of the charity is given to the CEO John Scanlon. John Scanlon is responsible for the direction and long-temi strategy. though any such decisions are ultirnately made by the trustees. Arrangements for setting the pay and rernuneration of the charity's key management pèrsonnel Remuneration of key management personnel is set via benchmarting with other simil* organisalK)n$.

Oocu&"gn En%lcpe10.. D68D4ASF.8OF24EO￿B3F546S￿EA07m2B THE ELEPHANT PROTECTION INITIATIVE FOUNDATION TRUSTEES. REPORT FOR THE YEAR ENDEO 31 DECEMBER 2021 REFERENCE AND ADMINISTRATIVE DETAILS Chant name Other name the cha ses Re istered cha number Charil al address Ele hant Protection Inrtiatwe Foundattjn EPI Foundation EPIF 1182805 Bank House SoLrthwick ua￿. Southwith. Bri hton BN42 4FN Trust¢es' responsibilities in rlation to the financial $tatem¥nts The charity trustees (who are also the directors of the charrty for the purposes of ctynpany lawl are responsible for preparing a trustees, annual report and financial statements in accordance with applicable law and United Kingdom Accounting star￿ards (Unrted Kingdom Generally Accepted Accounting Praelice). Company law reqUI￿S the charity trustees to prepare financol stemenls for each year wh￿h give a true and fair wew of the slate of affairs of the chariiable company and the group and of Ihe incoming resources and applKalton of resources, including the income and expendrtUTe. of the eh8ritable.gfOW) for that year. In preparing the financial statement5, the trustees are required lo". select suitable accounting poI￿leS and Ihen apply them consistentty. observe the rnethcxys and principles in the Charitie5 SORP." make judgments and estimates that are reasonab￿ and prudent". slate whether appl￿ble UK a¢￿untIng stsndards have been foHow&J. subject to any material departures disdosed and expLgined in the financial statemenls.. and prepare the financial slalements on the going cOr￿EM ￿l51S unless it i8 inappropnate to presume Ihal the charity will continue in business. The trustees are responsible for keeping prijper accounting rec￿dS that disclose with reasonable accuracy al any lime Ihe"financial posrtion of the eharity and to enable them to ensure that the financial ststements comply with the Companies Act 2006. They are also resw)nsibk for safeguarding the assets of the ¢harily and the group and hence taking reasonable steps for the preventK•n and detection of fraud and other irregukrilies. The trustees are responsible for the maintenance and integrity of the ￿rpOrate and financial infomiation included on the Charitab￿ company's websrte. Legislation in the United Kingdom goveming the preparation and disseminatKin of finan¢wl slalements may differ frcm islalion in otherjurisdt¢lions. Statement as to disclosure to our audrtor In so far as the trustees are aware at the tirne of app￿￿n9 our trustees, annual report.. there is no relevant infomiabon. being Infomation needed by the audrtor in conneth.on wrth preparing their rekxjrt, of which the ¢harity'5 audrtor is unaware, and the trustees, having made enquiries of fellow directors and the chartys audrtor that they ought lo have individually taken. have each taken all steps that helshe is obliged lo lake as a director in order lo make themselves awa￿ of any relevant audrt Informat￿1￿ and lo establish that Ihe"audilor is aware of that infomiatKYn. In preparing this report, the directors have taken advantage of the small companies exernption provided by section 415A of the Companies A¢1 2006. Approved by the trustees on 10 Au9LlSt 2022 and s•Jn&J on their behaff by.. Alèlalfd¥PRhodes Chair ol the Board of Trustees 10

OocuSKJn Envelope ID.. cBD4ASF.8￿24E0rFB3Fm6￿EA07pts2B THE ELEPHANT PROTECTK)N INITIATIVE FOUNDATION INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS AND TRUSTEES OF ELEPHANT PROTECTION INITIATIVE FOR THE YEAR ENDED 31 DECEMBER 2021" Independent auditorfs report to the members of Conciliation Resources Opinion We have audite£S the financkil statements of Con¢ilialK)n Resources for the year ended 31 December 2021 which cornprise the Ststement ol Financial Aclivilies. the Balance Sheet. the Statement of Cash Fl¢)ws, and notes lo the financial statements. including a summary of Signif￿nt accounting pOI￿leS. The financial reporting framework that has been applied in their PreParat￿)n is applicable law and Unrted Kingdom Accounting Standards. including Financial Reportin9 Standard 102 The Financial Reporting Standa￿1 applicable in the UK and RepublK of Ireland {United Kingdom Generally Accepted Accounts"ng PraCt￿e). In our opinion, the financial statements.. give a true and fair view of the state of the charitable company's affaif5 as al 31 December 2021 and of Ihe charitable company's net movernent in funds, including the income and expendilure, for the year then ended, have been properly prepared in aCC￿dance wrth Unrte(J KW￿dc￿n Generally Accepted Accounting pract￿e.. and have been prepared in accordance wrth the requirements of the Companies Act 20C6. 8asi5 for opinion We condvcled our.audrt in accordance with Intemh)nal Standards on Auditing IUKI IISAS IUKII and applicable law. Our re5ponsibilitie$ under those stsndards are further described in the Audilorfs responsibilities for the audit of the frnancial statements section of our report. We are independent of the . charity in accordance with the ethical requiremenls that are relevant lo our audrt of the financial slalemenls in the UK. including the FRC'S ElhKal StandaTd, and we have fuffilled our other ethical responsibilities in accordance with these requirements. We believe that the audit e￿den￿ we have obtained is suflicienl and appropriate lo prowde a basis for our opinion. CO￿lUSIonS relating to going ¢oncèm In auditing the financial 51alements. we have Co￿l￿ded th the tnJ$tee's Ll$8 of the going concem basis of accounting in the preparation of the financial statements is appropriate. Based on the work we have performed. W￿ havè not thntrfd any material uncertainties Telaling lo events or condrtions that, individually or collectively. may cast signifunl doubt on the charitable company's's abilily to continue as a going concern for a perK)d of al least twelve months from when the financial statements are authorised for issue. Our responsibilities the responsilNlibes of the dir8¢tors with respect to going concem are described in the relevant sections of this rep￿. Other Information The trustees a￿ responsible for Ihe other information. The other information comprises the informèlion included in the Trustees, Annual Report. Our opinion on the financial statements does not cover the olhei inlornialion and. except to the extent otherwise expltrtty slated in our report. we do not express any fom of assurance conClus￿n Ihereon. In connection with our audit of the financial stalemenls, OUT responsibilrty is to ￿ad the other information and. in doing so, consider whether the other informats.on materially inconsistent with the financial statements or our knowled9e obtained in the au¢Jrt or otherwise appears lo be materially misslaled. If we identify such material Inconsistencies or apparent material misstalemerhls, we are wuired lo delemine whether there is a material misstatement in the financial sL*emenls or a rnalenal rnisstslemenl of the other inlomialion. If. based on the work we have performed. we conclude that there is a material misslatemenl of this other information, we are required to report that fact. We have nothing lo report in thi5 regard. 11

Docusign En¥eloFe ID.. c6804A5F.elE24EC#￿3F￿AE￿)?WB THE ELEPHANT PROTECTION INITIATIVE FOUNDATION INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS AND TRUSTEES OF ELEPHANT PROTECTION INITIATIVE FOR THE YEAR ENDED 31 DECEMBER 2021 Opinions on other matters prescribed by the Companies Act 2006 In our opinion, based on the work undertaken in fhe course of the audrt-. th'e infomatK)n given in the Trustees, Annual Report Iwhich In￿￿e$ the directors, report prepared for the purposes of company lawl for the financial year for whKh the financial statements are prepared is con51Stent with Ihe financ&al statements.. and the direclors. report Included wthin the Trustees. Annual Report have been prepaTed in a¢￿T￿ance wrth applicable legal requirements_ Matters on which we are required to report by exception In the light of the knowledge and understanding of the charrtable ci)rnpany and ils environment obtained in the course ol the audit. we have not identrfied material misstatements in the Trustees, Annual Report Iwhi¢h incorporates the Strateg￿ report and the direclors. report). We have nothing to report in respe¢l of Ihe follo￿"n9 matters in relation lo wh¢h the Companies A¢1 2006 requires us to report lo you rf, in our opinKsn'. adequate accountin9 records have not been kept by the charitable comparsy,. or the charrtable company financial statements aTe not in agreement with the accountin9 records and returns,. or certain dis¢10sures of tru51ees' remuneralK)n Specified by law are not made., or we have not received all the infomalion and explanations * require for our audrt". or the trustees were not enlilled lo prepare the financial slalemen15 in accordance with the srnall companies, regime and take advantage of the small companies. exemptions in prepanng the Iru51ees' report and trom the requirement to prepare a strategic report. Responsibilities of trustees for the financial statements As explained more fully in the trustees. responsibilrties statement set out on page 10, the trustees (who are also the directors of the chartsble company for the purp05e5 of company law) are re5FL)nsible for the p￿paratIOn of the financbal statements and foc being satIsf￿d that they give 3 true and fair view. and for such internal control a5 the Iruslees detemiine is necessary toenable the preparation of financial statements that are free from material misstslemenl. whether due lo fraud or error. In preparing the financial statements. the trustees are reSpOnsb￿ for assessing the charitable Company's ability lo continue as a going Concem. disclosing. 8$ applicable. matters reLHled lo going con￿rn and using the going concern basis of accounting unless the trustees either intend to liqu￿ate the charilable Company or to cease operations, or have no realistic alternative but to do so. Auditorfs responsibilities for the audit of the financial statements Our objectives are lo obtain reasonable assurance about wheiher Ihe financial statements as a whole are free from material misstatement, whether due to Iraud or error, and lo issue an auditor's report that includes our Opin￿n. Reasonable assurance is a hKJh ￿Ve1 of assurance. but is not a guarantee that an audi( conducted in accordance wilh ISAS (UK) wll a￿layS detect a material misstatemenl when it exsts. Misslalemenls can arise Ircxn fraud or error and are ¢onsidefed material rf, individually or In the aggregate, they could ￿8$OnablY be expected lo influence the e¢oncAni¢ decisK)ns of users taken on the basis oflhese financial statements. Irregularities. in¢luding fraud. are instances of non-¢cThplla￿e with lav4s and regulalitins. We design procedures in line with our responsibilrties. outlined above. to detect materbal mis5talemen15 in respect of ifregulaiities, including fraud. The extent to whth our prcLedures are capable of detectirKJ irregularities, including fraud Is delaiw bekjw". Based on our underslanding of the charitable company and the sector in wh￿h it opeples, we identrfled that the principal risks of non-compliance with laws and wulations related to regulatory requirements of Charity law. and we considered the extent to which non-ccrfnp1lan￿ might have a material effect 12

DouJSi9n Envelope IO.. Dee04A5F4OFZ4E￿B3Fs￿6sAEAO7￿fftB THE ELEPHANT PROTECTION INITIATIVE FOUNOATION INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS ANDTRUSTEES OF ELEPHANT PROTECTION INITIATIVE FOR THE YEAR ENDED 31 DECEMBER 2021 on the financial statements. We also consideredthose laws and regulations that have a direct impact on the preparation of the financial statements such as the Charrties Act 2011, Cornpanie5 Act 2006 aKI p8yroll taxes. We evaluated management's opportunities forfraUdu￿ft1 manipulion of the financial ststemenls (including the risk of override of controls). and detemiined that the principal risks were related to posting inappropriate journal entries and management bras in certain accounting estimates and judgements such as the income recognition policy applied to grant income. Audrt procedu￿$ performed by the engagement team included.. Inspecting Corresponden￿ wrth appropnate re9ulators and tax authorrties,. Discussions with management induding consideration of known or suspected instances of non- compliance with laws and regulation and fraud". Evaluating management's controls designed lo prevent and dete¢l trregularitie$, Review of minutes of meetings to Klentrfy expected material amounts of voluntary in¢ome', Identrfying and testing ioumals. in particular journal entries. posled wrth unusual a¢wunl combinations, postings by unusual users or with unusual descriptiorbs,. and Challenging assUMpt￿nS and judgements made by management in their critical accounting estimates. including review ol how grant income has been recognised at the year end. Because of the inherent limtslions of an audrt. ttte￿ is a risk that we will not delect all irreguLqTrtie5, including Ih05e leading lo a material misslalemenl in the financial stslemen15 or non-compliance with regulation. This risk Increases the more that ¢(npliance with a law or regulation is removed frL¥n the events and transactions reflected in the financial statements. as we will be less likety to become aware of InStan￿S of non- compliance. The risk is also greater regarding irTegularrties occurring due to fraud Talher than error, as fraud involves intenth)nal concealment, forgery, collusion. omission or misrepresentation. A further description of our fesponsibilitie5 forthe audit of the financial sLemenls is located on the Financial Reporting Council's website al". wNvw.Irc.or uklauditorsres nsibililies. This descfjplion forms part of our auditor's report. Use of our report This report is made solely to the chaTrtable Compan￿S members. as a bcJy. in accordance with Chapter 3 of Part 16 of Ihe Companies Ad 2006. Our audrt work has been undertaken so that we might slate lo the hari(able Company's members those matters we are required to 51ale lo them in an Audrtor's report and for no other purpose. To the fullest extent Pern￿ed by law. we do not accept or assume responsibility to anyone other than the charitable company and the charitabbe companls members as a body. for our audit work. Ihis report, or for the opinions we have formed. Steven Harper Isenior Stslulory Auditor) or and on behall of HaysMac1nty￿ LLP, Stat4rtory Audrtors Queen Slreet Place. London EC4R 1AG Date. 1510912022 13

OocJJSign Erwelopt ID. [￿B0¢￿5F.8OF24E￿82F&86sAEA07P£2B THE ELEPHANT PROTECTION INITIATIVE FOUNDATION STATEMENT OF FINANCIAL ACTIVITIES (including income and expendtiure accounti FOR THE YEAR ENDED 31 DECEMBER 2021 Notes 2021 2021 Restricted Unrestricted 2021 Totsl 2020 Total INCOME FROM.. DonalK)ns and grants Transferred frcrfn Stop Ivory 684.077 322.968 1.1)07,045 278.367 454,901 TOTAL INCOME 684.077 322.968 1.007.045 733.268 EXPENDITURE ON.. Raising fund5 Charitable aclivilies 18,846 270.747 18,846 939.797 3,179 701,356 669.050 TOTAL EXPENDITURE 669.050 289,593 958,643 704.535 Net incomel (expenditure) 15.027 33,375 48,402 28,733 Transfers between funds RECONCILIATION OF FUNDS Total fLtnds brought fcKward 96,775 104.942 201,717 172,984 TOTAL FUNDS CARRIED FORWARD 111.802 138.317 250.119 201.717 The statement of fir￿nc￿l activrties includes all gains and losses recognised in the penod. 14

Oocusign En¥elLye lo.. tKBD4A5F4CF24E(MJ-B3F&865AEA07A628 THE ELEPHANT PROTECTION INITIATIVE FOUNDATION BALANCE SHEET COMPANY NUMBER 08360909 AS AT 31 DECEMBER 2021 2021 2020 Notes CURRENT ASSETS Debtors Cash al bank 39,087 498.632 83,789 475.444 CREDITORS Amounts falling due within one year 1287.6001 1357,5161 TOTAL ASSETS LESS CURRENT LIA8IUTIES 250.119 201.717 FUNDS unreStr￿tea fvnds Restricled funds 138..317 111,802 104,942 96,775 TOTAL FUNDS 250,119 201,717 The financial slatemer¢ts have been prepared in accordan￿ wrth the provisKJns applubb lo enlifies subject to the small compan￿$ re9ime. The financial statements were approve(l and aulhorised for issue by the Board of Trustees on 10 August 2022 and were signed on its behaw by.. AWlalTdèl'Rhodes Trustee

Do￿SIgn En¥eloEe ID.. ￿BD4ASF40F24EQ￿8￿￿aSS4EA07NfjZB . THE ELEPHANT PROTECTION INITIATNE FOUNDATION STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 DECEMBER 2021 2021 2020 , Note5 Cash Ilows from operat•ng activities 23,188 475.444 Total cash inllowllouth¢)wl forthe year 23,188 475.444 Cash and cash equivalents at the beginning of the year 475,444 Cash and cash equivalents at the end of the year 498,632 475.444 Cash and cash equivalents cornp￿ed solely cash at bank aNJ in hand in iY)Ih the Current and prior year. R¢¢on¢iliation of net Incomo to n¢t cash flows from operating activiti•s Net incorne for th• reporting year las per the Statement of Financial Activities) 48.402 28.733 Adjustments for: Decrease in debtors {Decreaselllncrease in creditor5 44,702 169.916) 98,086 348,625 23.188 475.444 16

00c￿$¥n Envdope IO.. D6BD4ASF4cf24EI￿￿546sAEA07A628 THE ELEPHANT PROTECTION INITIATIVE FOUNDATION NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021 ACCOUNTING POUCIES The financial statements have been prepared in accordance with Accounting and Reporting by Charities.. Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financol Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 (Second Edition) ette¢b've 1 January 2019 and the Companies Act 2006. The financial ststements are prepared in Founds steiling. rounded to the nearest pound. The charity meels the definitvJn of a public benefft entity under FRS 102. Asset5 and liats"lities are reeoanised al their fair values unless othe￿iSe stated in the relevant accounts.ng policy note. The Elephant Protection Initolive Foundation bs a ￿npanY Iwnrted by guarantee, registered in England and Wales (Company number 083609091 and a charrty registered with the Charity Commission Iregistered number 11828051. It's re9lStered address is shown on page 1. Accounting period The comperativé figures in Ihesefinan¢ial statement$ are stated forthe penod from 28 September 2018 to 31 December 2020. For Ihis reason. Ihey are not ents.rely comparable with the figures for the year ended 31 December 2021. Going concern The trustees have assessed the charrtls requirements for foreseeable future as well as the impact of the worldwide Covid-19 pandemic and are ttonf￿ent that SLrfficient funds will be available to enable administrative operations lo conlinue at a sustainable level for a period of at least 12 months from the date of approval ol these financial statements_ This will enable the charity to fulfil it5 operational and statutory obligations in an orderty fashion. The chanty theref￿e continues to adopt Ihe going concern basis in preparing its financral statement5. The financial ststemenls do not include the adjustments that would resuli if the charity was unable to continue a5 a going concern. Income All sources of income a￿ included on the Statement of Finanaal ActNilies when the charrty is legally enlrtled to the inccmne. receipt is probable. and Ihe amount can be quantffjed wth ￿8$Onable accuracy. Income received under the coronsvirus job retention scheme is reccgnised when the associated staff costs are incurred. Gifts in Kind Gifts in kind relate to donaled items and services. They are valued al the lower of mt4ket and the value to the charily. Expenditure Expendrture is accounted for ¢)n an accruals basis and has been elassified under headings that aggregate all cost related to the ￿tegOry. Where costs cannot be directly attributed lo particular headings, they have been alloc*ed to activrtEs on a basis Consistent with the use of resources. Pension costs The charity provides a defined contribution scheme. which is avaiLabbe lo all employees. The funds are independenlty held fr(xn those ofthe charrty. The pen$ion costs comprise the costs of the charills contrilyJtion lo its empk)yees' pension schemes. Foreign currency Foreign Cur￿ncY transactions are translated * ￿te applicable on the transaclw)n dale. 17

00cus￿￿ EnvelopÈ ID ￿￿D•A5F￿0F24EC￿.B3F￿6SAEAoTA62B THE ELEPHANT PROTECTIOM INITIATIVE FOUNDATION NOTES TO THE FINANCIAL STATEMENTS (Continued) FOR THE YEAR ENDED 31 DECEMBER 2021 ACCOUNTING POLICIES Icontinuedl Taxation The chaiity is exempl from corporation lax its charitable activity. Fund accounting Unfeslricted funds can te used in accordan￿ wilh the charitable ￿l￿tIveS at Ihe discretion of the trustees. Reslricled funds Can only be used ffx particular restricted purposes wthin the objecis of the charrty. Restrict￿n$ arise when specrfied by the donor or when funds are rat5ed for Pa￿"cular reslrscled purposes. Further explanalion of the nature and purpose of each fund 15 included in the notes to the financ￿1 statements. Estimates and Judgements Estimates and 2udgements are continually ev8lu*ed and are based on historical experience and other laclors, Including expectstions ol future events that are believed to be reasonable under the circumstances. Atthough these estimates are based on the trustee's best knowledge of the amount. events or actions, aclual resutts uttimately drfler from these eslimales. The Trustees do not consider there lo be any material estimate5 and judgements INCOME FROM GRANTS AND DONATIONS 2021 2020 Donations and grants Amounts received under the Coronavirvs Job RelentKJn S¢heme 1.002.786 4.259 238.501 39.866 1,007,045 278,367 TRANSFER FROM STOP IVORY Stop Ivory (previously registered company number 08360909 and registered charity number 11523321 tranSfer￿d all rts activities. programs and $ignrfi¢anl funds amounting to £281,916 to The Elephant Protection Initiative Foundation as at 1 February 2020. The lair value of the nel asset5 of Slop Ivory al the point of the transfer wefe a5 follows.. Restricted Unrestricted Total Cash and other nel current assetsllliabilrtiesl 484.728 (18.8271 454,901 18

DowSvJn EnveloFe ID.. 06804ASF40F24ECN>B3FW5AEA07fv628 THE ELEPHANT PROTECTION INITIATIVE FOUNDATION NOTES TO THE FINANCIAL STATEMENTS {continuedl FOR THE YEAR ENDED 31 DECEMBER 2021 EXPENDITURE ON CHARITABLE ACTIVITIES 2021 2020 Program implementation costs HEC development Ivory EPIF work NEAP Devel¢)pment Publicity and ComMun￿tIOnS Supwt costs 213,491 50,188 487,910 36.223 70.121 81.864 282,681 261.283 26.829 55,168 75,395 Totsl charitsble expendlturn 939,797 701,356 Support and govemance costs 2021 2020 AuditOTS remuneration- audrt f Auditors remuneration.- non-atldit Ser￿e$ Staff costs Office Costs Payroll an¢J other professional fees Publicity- Insurance Other operational costs Bank fees and foreign exchange variances 10.800 1.860 20.060 5.828 2,573 10,200 1.800 30.274 14.440 19.608 4,581 3.844 680 110.0321 2.924 2,857 34,962 Total support and govemance costs 81,864 75.395 Key management personnd are considered lo be the trustees. Miles Geldard IprevK*u5 CEO, resigned in the year}. and John S¢ank￿. (current CEO)12020.' the trustees, Mile5 Geldafd and John Scanlon) There were no Iruslees. expenses paid for the year ended 31 December 2021 (2020.. £nill. STAFF COSTS 2021 2020 Wages and salaries Social security c051s Pension costs 181.479 15,342 5,489 194,365 13,078 5,557 Total stsff costs 206,310 213,000 The average number of employees during the year was 512020". 6}. One 8mployee12020.' no employees) eamed behveen £60.OCKJ and £70.0(K) during the year. The lolal remuneration of the key management personnel of the charily during the year was £108.997 12020.. £79.2661 19

Dr￿us￿JTh EnYÈhpe 10.. D6BD4ASF4CF24EW.03FM654EA07A628 THE ELEPHANT PROTECTION INITIATIVE FOUNDATION NOTES TO THE FINANCIAL STATEMENTS Icontlnuedl FOR THE YEAR Et40ED 31 DECEM8ER 2021 6.1 DEBTORS 2021 2020 Accrued income 39,087 83.789 39,087 83.789 CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 2021 2020 A¢cruals Deferred income {see ￿low) 18.101 269.499 20.940 336,576 287.600 357,516 Movements in deterred income Balance at the beginning of the year Incorne deferTed al 1 January 2021 recogni5ed in the year Income deferTed during the year 336.576 1336,5761 269,499 336,576 Balance * the end of the year .269.499 336,576 20

DocuS¥Jn Er￿Upe IO.. D6804A5F40F24Eo￿>$e6sAFA07N6Z8. THE ELEPHANT PROTECTION INITIATIVE FOUNDATION NOTES TO THE FINANCIAL STATEME1￿$ (continued) FOR THE YEAR ENDED 31 DECEMBER 2021 MOVEMENT IN FUNDS At1.1.21 Income Expenditure Transfers At 31.12.21 Unreslrided funds 104.942 322.968 1289.593) 138,317 Restricted lunds - Tusk SMS Tusk 2021 -CMS INL 19,995 (19.9951 (10.5171 (17,2211 1392.159) 1153,853) 13.143) (67.7741 19,232 31.473 392,159 153.853 13.044 58,851 8,715 14,252 - DEFRA 047 - DEFFiA 058 Friedman Frenth Nalional Geographic RLtmi -wcs -SFG 3.989 8.923 8,588 43,793 4,496 2.C68 4.923 13,890 8,588 59,793 4.496 2.￿8 16,000 {535) {4.388} Totsl restrlctgd funqls 96.775 684.077 {669,050} 111.802 TOTAL FUNDS 201,717 1,007,045 {958.643) 250,119 MOVEMENT IN FUNDS (PRIOR YEAR) Incorne (Expenditure) Tran$fers At 31.12.20, Unrestrlcted funds 141.768 139.8261 104,942 Restricted funds Tusk SMS INL 27.214 49.421 3%.461 15.391 35,991 14,124 30,878 7.055 2.1￿8 12.897 129.3351 1197,289) (396,461) 111,4021 (27.L￿8) 15,5361 12,915 12.559) 19,995 OEFRA 047 OEFRA 058 Friedman French National Geographic Rumi wcs SFG 3,989 8,923 8,588 43,793 4,496 2,C68 4,923 (7.974) Total reslri¢ted fvnds 591,500 1664.7091 96,775 TOTAL FUNDS 733.268 1704,5351 201,717 21

Docusun Enve&ipe ID. [￿ar￿A5F.80F24Er￿>83Fse6S4wMts2B THE ELEPHANT PROTECTION INITIATIVE FOUNDATION NOTES TO THE FINANCIAL STATEMENTS (continued FOR THE YEAR ENDED 31 DECEMBER 2021 MOVEMENT IN FUNDS Icontinuedl Re$lricted funds: - TUSK SMS". Help wth devekjping y￿d-S18ndard stctkpile rnanagement Systems. - TUSK 2021.. Help with devebping stockpile management systems. - CMS". Promoting protected areas development in Eritrea. - INL.. Strengthening storeroom and evidence management for wildlife products in government custody lin Angola, Ivory Coast and Nigerial. - Cl.. Stop the acute extinclion threal posed by Ihe ivory trade and to secure a sustainablefulure for elephants across Africa. through 5UPPOrting the Co-secretsriat of the unique African-￿ Elephant Protection Initiative IEPI)." The EPI Foundation. - DEFRA 047.. Deliver priority action5 identrfied in Angola's CITES rnandated National Ivory Action Plan INIAP) and National Elephant A¢lion Plan INEAPI. - DEFRA 058.. Devebpin9 gold-standafd slcckpile management systems in Ethiopia, Malawi and Uganda. - Friedman French.. Supporting the Govemment of Nigeria to develop their NEAP. NatK)nal Geographi¢." Complele a revision and updaliny of the current NalK)nal Elephant Action Plan for Kenya (The ConservatKJn and Managemenl Strategy for Ihe Elephant in Kenya). This project completed In the year and unspent grant funding was returned to the grantor, resulting In negative expeThJrture foc the year. - Rumi". For the Foundation to continue lo provKle cruciJ ￿retarIa1 SUPFQrt for ongoing elephant Conservation. - VVCS". Provth lechntsl support to the audrt of the wory St￿kpl1e held by the Govemmenl of Gabon. - SFG.. Provide techn￿al support towards the delivery of a SFG wildlrfe crime law enforcement project in Angola. RELATED PARTY TRANSACTIONS During the year, the Charty received £19.231 (2020. £nill from Tusk. The Chaimian ofTusk is a trustee of EPIF. The Charity also ￿ ceived £153.85312020" £28,664) from Conservation Intemational ICII. The Chief Executive Officer of Cl is a trustee of EPIF. The were no further reLgled party Iran&icth)ns in the year that require disclosure (2020.. none). 22

Oocu&gn Env*Jpe ID.. D6B04A5F4cf24Eo￿B3FS-86￿?A828 THE ELEPHANT PROTECTION INITIATIVE FOUNDATION NOTES TO THE FINANCIAL STATEMENTS {continued FOR THE YEAR ENDED 31 DECEMBER 2021 10. COMPARATIVE STATEMENT OF FINANCIAL ACTIVITIES Notes 2020 2020 Restricted Unrestricted 2020 Total INCOME FROM.. DonalK)ns and grants Transferred from Slop Ivcry 106.772 484.728 171,595 129,8271 278,367 454,901 TOTAL INCOME 591.5cM) 141,768 733,268 EXPENDITURE ON: Raising funds Charrtable activities 3,179 36,647 664.709 701,356 TOTAL EXPENDITURE 664.709 39,826 704,535 Net in¢omel lexpenditurel {73.209) 101,942 28,733 Transfers behveen funds RECONCILIATION OF FUNDS Total funds brought forward 169,984 3,000 172,984 TOTAL FUNDS CARRIED FORWARD ,775 104.942 201.717 23