Docusign Envelope ID." 82F5F462-2FF&86CPAOA4-7A25573835C7 The Benevolent Fund of the Institution of Mechanical Engineers Annual Report and Accounts For the year to 31 December 2025 CompanyRegistered in England No,130981 Re9i5tered Charity No.. 209465 Docusign Envelope ID." 82F5F462-2FF&86CPAOA4-7A25573835C7 The Benevolent Fund of the Instltutlon of Mechanical Engineers Report of the Trustees For the year ended 31 December 2026 Report of the Trustees Independent Auditor's Report to the Members of the Benevolent Fund of the Institution of Mechanical Engineers Statement of Flnanclal Actlvltles 3-18 19-22 23 Balance Sheet Statement of Cash Flows 24 25 Notes to the accounts 26-33 Docusign Envelope ID." 82F5F462-2FF&86CPAOA4-7A25573835C7 The Benevolent Fund ol the Institutlon of Mechanlcal Englneers Report of the Trustees For the year ended 31 DeGember 2026 INTRODucnoN The Trustees are pleased to submit their annual report whlch Incorporates the Director's Report and accounts for the year ended 31 December 2025. In prepartng thls report the Trustees have complied with the Charities Act 2011, the Companles Act 2006, Accountlng and Reportlng by Charitles: Statement of Recommended Practlce applicable to charftles preparfng their ac¢ount5 In aecordance wlth the Flnanclal Reportlng Starbdard appllcable In UK and Republic of Ireland (FRS102), and the company's Artides of Assoclatlon governlng doojment. REFERENCE AND AOMZNISTRATIVE DEfAILS The Benevolent Fund of The Institution of Mechanlcal Englneers (also known as, and now op*ratlng under, the working title of 'Support Network,) was foilnded in 1913 and Is reglstered wbth the Charlty Commission for England and Wales ès charity nurnber 209465. Support Network Is also a Company Llmlted by Guarantee,. and 15 registered wlth Companles House as company number 130981. The Trustees, Officers and professlonal advlsers of the tharity are Ilsted on page 18 of thls ￿ port. Support Network operates throughout the Unlted Klngdom and Internatlonally, wherever there are members (or former members) of the Instltutlon of Nechanlcal Englneers {IMechE). ￿thOUgh dose tles exlst between Support Network and the IMechE, It should be noted that they a￿ separ•te and dlstinrt reglstered charltles and companles, wlth dlfferent objectlves. funds •nd management stnJrtures. STRucfuRE. GOVeRNA14CE AND MANAGEMENT OF THE CHARITY Support Network Is a charltable Company limited by guarantee, establlshed under Memorandum of Assoclatlon, now revlsed as Artlcles of AssoclJtlon (January 2020) whlch sets out the objerts and powèrs of the charltable company and all oovemance provlslons relatlng to the same. A copy of the current verslon of the Artlcles of Associatlon are flled wlth both the ChJrlty Commlsslon for England and Wales and at Companles House. The Dlrectors ol the company are also chadty Trustees for the purposes ot chadty law. The governlng body of Support Network Is the Trustee Board, and the Trustees are Jolntly responslble for It5 governance. Support Network's charitable objecuves are the rellel and preventlon of poverty. In December 2019, permlsslon was given to expand the exlstlng charftable objertlves to Indude asslstance to both Indlvlduals and organlsatlons, these belng: Member5 (or former members) of the Institutlon of Mechanlcal englneers {IMechEI. The partners, clvll partners, wldows, wldowers, chlldren (Includlng adult chlldren), relatlves and other depcndants of such members or former members {whether such members or fomier members are allve or dead at the Yme SLFch prov151on Is sought). To relleve. or asslst in the rellef of* poverty or flnanclol hard5hlp thmughout the worfd, In particular but without limitatlon to the provlsign of fundlng for development projects. partiojlady projects or parts of proJ"ert5 With a strong englneering or tethnical component. To advance educatlon, In partlcular, through provldlng fvndlng In support of projects whlch develop capablllty In Sdence. technology, en9lneertng and mathematlcs. In 2019, the Support Network team expanded from a previous long-term posltlon of three membets of staff to become four - as an Oper•tlons Manager was recruited. Thls role has been revlewed and reframed as the Operations & Services Direttor. In September 2024 our Finance Manager retSred. Slnce that time we have redlstrrbuted those tasks wlthln that role amongst the existing tearn andlor extemal freelance specialists. The organlsatlon will seek to recruit new staff durlng 2026, followlng a review of current and antlclpated future personnel needs. especlally In the realm of communications and digltal presence. Docusign Envelope ID." 82F5F462-2FF&86CPAOA4-7A25573835C7 The Benevolent Fund of the Institulion of MechanirAI Englneers Roport of the Trustees For the year ended 31 December 2025 Support Network contlnues to rely on a dedicated network of volunteers, who themselves are mostly members of the IMechE and thus also form part of the ellgible 'community' of users of the organlsatlon's servlces. Volunteers assist with casework through makn.ng home visits andlor telephone or onllne calls for flnancial verification or antl-lonellness purposes, plus our International volunteers act as In￿untry representotives to provlde a wlder context to member pplicatlons. Volunteers are thereby Involved wlth the majority of the welfare Interyentions and casework undertaken by the organlsation. They are accordingly a malnstay of Support Network's artivitles and a prlnclpal polnt of contact with new applbcants and existing beneficlarfes, As presently constit(Jted, Support Network could not operate wlthout them. Purely In terms of hours of casework. Support Network Y4ould require at least two extra full-tlme staff If there were no volunteers. Tnjstees are responslble lor settlng the organlsatlon strategy and for erhsurln9 that thls Is Implemented by the Chief Exe¢utlve. To asslst wlth this work there are three sub-¢ommlttees whlch are a¢countable to the maln Trustee 8oard. There are also addltional remote grant eclsion maklng panels, and members of each committee and panel are Ilsted on page 18. A dlagram of the structure of the organlsatlon at Aprll 2026 is shown below.. ORGANISATION sniucTURE AT APRIL2026 TRUSTEE BOAIID: 9 membèrn. 4vo¢ancl CEO & Comp•ry S•¢rnl•rr.AnnlBm•dhfj8dffulltlm•) Op•r•tlon• & S•Thl¢•• Dlr•olor. Laura Cliiie (4.5 d•yJyrwwkJ Hw*•.O•ts &Admknl•tMtloh OIIIMr. Fnwn S•pt2024 ￿¢••&10￿dInt0l••rn Maurntrn ffull tlm•) GRANT COMMITfEE FINANCE COMMrrrEE LknTtyCh•lrlK Ch•trof••¢hQC m••ih7gl Up ro4 orher Twst•89 •a •v8118ble toallvnd DeCId•¥￿eth￿rI hrywto priyAde BUPPOrt. Monliors com￿￿¢8￿￿. c￿￿ldI￿n￿• Ch•lr. • Deputy Ch8lr,2otherfftMtw R8comfflendJ h￿nCIlI#￿¥￿￿& lundralal Monlt¢x•lwfft•tm•nt wrtfouo compollrlon and fln8nclal wrlofflionc•. REMOTE D.EQIWQNMAKIPLQ PANELS & DELEGATED UMITS PERSONNELCOMMrrrEE & APPOINTMENTS PANEL ch#k f•>Clwlri. •￿￿ty¢F￿￿. 2oth•rTrust•v Decides ￿&11 rem¢Jner•16on. r•cornm•nd• ¢mp￿9 •nd¥olunMr Atrnt• R•erutim•nt ofTru81O￿. Up ￿ 3 frustè88perN•wAppUc8rfonaThl Srud•nta+4pprnntlcop•n•l& On• TnJsts• v•rlfyOfflco de¢lslons. Op•r•tlons &Sor￿s Dtroctor, CEO a Ch•if h*￿ dol•8•t•d8r•nt Ilmfts. VOLUNTEERVISITOR TEAM Trustee Board.. The Trustee Board, when complete, conslsts of at least eight and not more than thlrteen indlviduals. The current Board comprlses 9 elerted andlor co-opted members. None of the Support Network Tnjstees are also IMechE Trustees. The Twstees Serve for a flxed perlod of three ye•rs. 4fter which tlme they are eligible to stand to be re-elected to Serve for a further three years, after whlch tlme they must retlre for at least Docusign Envelope ID." 82F5F462-2FF&86CPAOA4-7A25573835C7 The Benevolent Fund of the Ir￿titUtIOn of Mechanical Englneern Report of the Truslees For the year ended 31 December 2026 one year, before beong eliglble to serwe on the board agaln. Thls above requirement applies unle55 they hold the office of Chair or Deputy Chalr at the tlme that their ￿tIrernent would fall to be effertlve, at which point they may serve for an adLlitional consecutive 1-2 years {Deputy) or 4 years (Chalr). Thls Is in order to facllitate successlon plannln9. Candidates to be consldered for elettion to the Board are Invlted to 5ubmlt statements of applicatlon against the Person Speciflcation required that year, and after an Informal discussion wlth the CEO, they are usually Invited to attend an Intervlew elther wlth the Chalr and a Deputy Chair, or otherwlse the Appolntrnents Panel (usually comprislng the Chalr, Deputy Chair and one or two other Trustee5, who are usually also mernbers of the Personnel Commltteel. New trustees are elected by the full Trustee Board ond usually take offlce wlth effect from the date of the July Trustee Board meeting, which Is also usually the flrst Trvstee Board meeting that they attend unless they have been co-opted at another stage of the calendar year. The elected Trustees are often already familiar wlth elther.. l) the purpose and practlcal work of Support Network, (as they have largely been recrulted from those who have demonstrated a commltment to the alms and ethos of the charlty by volunteerlng to act Js Vlsltor5'); or 2) wlth the work of the IMechE, as candldates are usually IMechE members; undertake volunteer actlvltles for the IMechE; or are employed In a role whSch brings addltlonal expertlse to the Support Network board e.g. communlcatlons experfence. It Is however our Intentlon to wlden thls recrultment pool to Indlvlduals who are not connetted to the Imeche and who cjn brlng dlfferent experlences and skllls to the Trustee Board. JI Trustees are recrulted In accordance wlth addlng the requlred skills and experlence to the board, on the basls of a skllls audlt of all Trustees. and associated successlon plannlng exerclses. Requlrements In respett of the Code of Govern•nce, especlally those In respeLt of Dlverslty and Incluslon are ￿nSIdered when plannlng for and undertaklng the recrultment of new Trustees. Durln9 thelr Indurtlon process. eJ¢h new Trustee Is provlded wlth access to all the necessary ference documents, pollcles and procedures for them to play an effettlve role on the Trustee Board, In¢ludlng copies of the governlng document, Charlty Commlsslon publlcatlons, terms of reference for commlttees, dsk reglster, latest full statutory èccounts, and the prevlous year of Trustee Board mlnutes and flnanclal statements. Pollcy documents are reviewed and revlsed as approprlate, wlth the latest edltlons posted on an intemal Extranet, accesslble vla a password proterted area of the governance sectlon wlthln the Support Network webslte pages. New Trustee5 are invlted to meet wlth the Chlef Executlve {elther onllne or at the company's reglstered offlce In London), In order to famlllarlse themselves wlth the charltys to undertake to meet the other members of the staff team, and to talk through the role and requlrernents In more depth. They •re also requlred to attend external trainlng sesslons, provlded by speclallst5 In governance, to Indude the role. dutle5 and responsibS1itles of a Trustee. finance and Investment skllls for Trustees: and other governance related tralnln9 as appllcable. The IMechE Presldent and IMechE Chlef Executlve are Patrons of the charity. Durfng 2024 It was conftrned that HM King Charles III Y￿Ul￿ remain a5 our Royal Patron. Grant Commltt•e.' The Grant Committee meets as ￿quIred. usually twice a year. wlth the purposes of declding v4ards/loans in referred presented cases within the grant making framework of policies and gurdelines agreed by the Trustee Board- monitorfng cornplex cases,. overseeing cases determlned by the staff and dlscu55ing amèndments to grant maklng poli¢ies and strate9y. rt a150 considers the awards given vla other deoslon maklng routes, and dSs¢u55es new provider opportunltie5. Wlth a view to making recommendatlon5 to the Trustee Board regardlng ernerglng patterns of need anij approprsate responses to the same. On occasions. potential foundatlon gi-ant reclpients ml9ht also be consirjered in pdnciple, befare being considered In full by the Trustee Board. The Grant Commlttee Is usually chalred by one of the Deputy Chairs, and Docusign Envelope ID." 82F5F462-2FF&86CPAOA4-7A25573835C7 The Benevolent Fund of the Institution of Mechanical Engineers Report of the Trustees For thè year onded 31 December 2025 Includes up to four other Trustees, together with mernbers of #aff. New volunteers are invited to attend as part of thelr Indurtlon tralnlng. Other volunteer visltors may also be asked to attend If one or more of their cases are being Conside￿1 and espedally If those are thought to be qulte complex, reqviring additional (Jiscyss40n In person to assist wlth the declslon-making pro￿$9. All new Trustees are asked to attend a Grant Commlttee meetlng durSn9 their flrst year of appointment as part of their induetlon or as soon as posslble thereafter. Trustees who do not undertake appllcatlon rèlated vlsirs are especlally encouraged to attend Grant Commlttee meeting5 In order to understand part of the core servlce provlslon and the related rlsks and /or strateglc elemep.ts of the same. Finance Commltte•.' The Flnance Commlttee meets as required to conslder speciflc areas of finance. On an annual basls, usually In Februarylmarch. it receives investment manager presentatlons In respect of the performance of funds during the preceding year. The organisatlon undertakes a full review of the Investment portfollo on a five yeatly basls. The next such review Is due In 2028. The Flnance Committee is Usually Chaired by the Treasurer, and attended by the Chalr. Deputy Chalr(s) and Ideally •t l&st two other Trustees. All matters of strate9lc flnonce, Investment portfollo. fvndraising targets and financlal procedures can be con51dered by thls ¢ommlttee, whlch then reports to the Trustee Board. Whllst the commlttee has a 5tat2d membershlp for ongolng development work. an open Invitatlon15 extended to all Trustees In respert of attendln9 the annual Ir)vestment manager presentatlons. Thls full Invltatlon Is also extended to any Flnance Commlttee meetlng whlch 15 attended by the audltor e,g. to present the annual audlt flndlngs and to recelve que$tlons from Trustèes as part of the statutory accounts agreement nd slgnlng process. An opportunity Is provlded at that meetlng for the audltor and Trusteès to meet wlthout staff beln9 present. All new Trustees are asked to attend the first Finance Commlttee after thelr Jppolntment as part of thelr InduLtlon. P•rsonn•l ¢ommltt••.' The Personnel Commlttee meets as requlred to conslder speclflc personnel related Issue5, and at least annually (usually In December) when It conslders the appralsals and performance of the staff team durtng the past year, thelr objertlves for the ¢omln9 year, and Sets their Indlvldual remuneratlon. The Trustee Board delegates matters of staff admlnlstratlon, pay •vdards, benefits and organlsation to the Personnel Commlttee. Issues, pollcles andlor procedures relating to volunteers are also consldered here In the fltst instance. Thls commlttee Is comprised of four TnJstees. where posslble Includln9 the Chalr and a Deputy Chalr of the Trustee Board. Care Is taken to ensure that the membershlp Compositlon of the Personnel Commlttee does not completely change between the annual regeneratlon focussed meetlngs to ensure contlnulty of dedslon maklng. The work of the commlttee Is often pro9ressed by emall, on a subject specific basls. In between meetlng$. Pollcles and procedures In relatlon to safeguarding. and ¢ompllan¢e wrth the General Oata Protectlon Regulatlon 20161679 {GDPR) Is within the rernit of the Personnel Commlttee. The Appointments Panel, whlch Intervlews potentlal candldates to be consldered for electlon to the Trustee Board is ) sub-set of the Personnel Committee. Slmllarly. Members of the Personnel Committee usually comprlse the panel for any employee recruirment. Remote Grnnt Decision Makinq Pan•ls •nd dirert servlce refwTals.' Referrals to the ernployment coaching seThice, the New Application Panel, Student & Apprentlee Panel, Offltt Declsions process and declslons made by the Chalr, thief Executive or Operation5 and ServSces Dlrector, as are all addltlonal deaslons making routes which enable grant award declslons to be taken wlthovt appllcants Èxperlendng undue delay. All decl￿0￿5 are made wlthln limits of type financlal amount that have been prevlously agreed and delegated by the Trustee Board. All award5 deterniined by the remote grant decision making panels are reported to the following Grant Committee meeting for verificatyoD. Docusign Envelope ID." 82F5F462-2FF&86CPAOA4-7A25573835C7 The Benevolent Fund of the Institutlon of Mechanical Engineers Report of the Trustses For the year ended 31 December 2026 Foundation Fundlng.. During our Initlal Implementatlon of the foundation hjnding programme. most dedsions relatlng to whith organisations to be awarded foundation fvndlngl and at what leveliduratlon etc., have elther been mode by the full Tnjstee Board andlor following a presentation by the appllcant organlsation to which all Trustees have been Invlted. In addition, designated Trustees andlor worklng groups have been used to link to 5pecrfic projects to help wlth progresslon and management. Thi5 Is an approach whlch engage5 all Trustees In an important area of our work that stlll feels relatively 'new'. A strategic revlew of thls area occurred In 2023 and a furthèr review Is scheduled for later 2026 and into 2027 as part of an overall strateglc revlew. potentl•l r•clplert {by CEO/lndivldu•l Trurt•••l wTrth CEO {pu￿bI* dbr•rt prw•rt•tlon •nd/•r RISK MANAGEMEP4T The Trustees have Identlfied the major 5trateglc Tlsks to whlch Support Network Is exposed, and have consldered controls and actlons to mltlgate them. The Trustees also take approprlate steps to moderate and manage the operatlonal rlsks to whlch volunteets and staff of Support Network are exposed. The rlsk re9lster Is revlewed In fijll on an annual basls, usually at the October Trustee Board meetln9. Competence based tralnlno for Trustees & volunteers, employerfs Indemnlty Insurance and monltorlng of new leglslatlve reoulrements are all examples of steps that are routlnely undertaken. Authorlty for the day to day management of risk Is delegated by the Trustee Board to the Chief Executlve. In addltlon, the Chlef Executive, who Is also the Company Secretary, undertakes regular revlews of governance ￿lated rlsks, to complement those revlewed by the sub-committees. Work on the format and presentatlon of the risk reglster commenced durln9 2022 wlth agreement to make the most slgnificJnt rtsks more prominent, essentlally 'llfting' them away from other largely mltigated Msks. and to also show the dlfferen¢e between pre and past mltlgatlon rfsk values. It has been agreed to further develop the format of the rfsk reglster durlng 2025126 to make this even more Informatlve. In the Interim, the Trustees have Identlfled speclfi¢ key risks to the chartty ènd the actual steps taken to mltlgate those rlsks. The rfsk value Is currently calculated as: Impact x Probabllity, where IE low and S w high. Save for the rlsk shown below, all other risks have a value of 3 or le55: MAZN RISK: Expansion of Foundation pn)iect fundlng &Snngs asscvated yet unantlclpated organlsational rlsks - assessed as rfsk value 4 (2x2). Trustee5 continue to feel that whilst the expanslon of our artivlties into prov￿Ing fundlng to organisations thmugh our foundatlon filnding work is welcome to inctEase ¢ur Impart and public benefit, it also brings the organisatlon Into new areas of operatlng, with assodated uncertainties. There Is muth to learn in this new area - providing grnnts to fvnd projects Docusign Envelope ID." 82F5F462-2FF&86CPAOA4-7A25573835C7 The Bfynovolent Fund of the Institution of Mechanl¢al Englneers Report of the Trustees For the year ended 31 December 2026 Is very dlfferent to awardlng grants to Indlvlduals. Issues such as multl-year agreements,. health and safety of projetts,. third party engagement; pace of projert progress: fvndlng projects Internationally, have all been aspects that have been consIde￿d by Trustee5 2025. We antlcipate additional demands. and posslbly risks too, as we Increase the number of foundatlon grants that we have in parallel to each other. Akhough vrfe undertook a strategic revlew of thls funttion in the round during 2023. It was felt that the risks would remaln In some de9ree as an inherent part of this artLVjty. CHARZTY AcnvmES AND PUBLIC BENEFIT Support Network is a charity which was established in 1913 for "the prevention and relief of poverty., In guldance concemlng public benefit ('Public beneh't.. the public benefit requirement IPBII,; 'Publlc beneflt: running a charlty {PB2)': 'FlJbllc benefit- reportlng IP83) and 'Public beneflt: njles for charltles. February 2014) the Chartty Commlsslon recognlsed that for charltles whlch have these charttable objectlves. the rules relatlng to 'publlc' benefi.t are different In th)t= .In qeneral, ft•ra purpose to be charrftable It must satisfy both the 'public' and 'benefit' aspects of public benefit. However, 11 the purpose Is to prevent or relleve poverty, the posltion 15 dlfferent. Jn the case ol thJrities for the relief (and in some cases the prevention) of poverty the courts con>der the publlc benefit requlrement can be met by satisfying the 'benefit' aspect only. In these ca5e5 there Is no separate conslderntlon of the public, J5pert. Leqal requ1￿ment.. only charlues wlth a purpose to relleve (and in some cases to prevent) poverty can define who can benefit by reference to.. thelr famlly relatlonshlp (that means thelr descent fmm one Indlvidual),. their employment by an employer,. thelr membership of an uftincorporated assodatlon" At 31 December 2025. there were over 115,000 current Members of the IMechE in over 140 countrles around the world. Taken together wlth partners, wldows. wldowers. chlldren, relatlves ant1 other dependonts of such members andlor fonmer members who are also ellglble, the number of people ellglble for asslstance from Support Network Is tstimated to be In the order of at least 250.000 across the world. In ￿5. guldan¢e concernlng charltable purposes I'charltable Purposes.. Issued In September 2013 and updated In September 2014) the Charlty Commlssltsn recognlsed that generally, the rellef of poverty Sndudes Its prevention and the preventlon of poverty Indudes Its rellef.. .There can be no absolute definltlon of what poverty. rnlqht mean *nce the pmblems Ivlnq rtse to poverty are multi.dimenslonal and cumulatlve. It un Jffect Indlvlduals and whole communities. It might be experfenced ort a lono or short-term basls. Poverty can both create, and be created by, •dver5e 54xial conditlons. such as poor health and nutrltlon, and low achievement in education and other areas of human development...The prevention gr rellef ol poverty is not Just abotst glving finandal asslstance to people who lack money poverty Is a more Complex issue that Is dependent upon the social and economic c1￿uMstanceS In which It arlses. The comm15slon rectsgnlses that many ¢hartties that are concerned wlth preventlng or relieving poverty will do so by addresslng both the causes (prevention) and the consequence5 (relieo of poverty. ..Not everyone who Is In financlal hard5hlp is neces5anly poor. but it may still be charitable to relleve thelr finanoal hardship under the descryption of purposes relating to 'the rellef of those in need by reason of youth. age, ill-health. disability. financial hardship or other disadvantage. In most case5 the commission will treat the relief of poverty and the ￿lief of financlal hardship the same. Generalty speaking. it is likely to be cha17table to relleve elther the poverty or the finandal hardship of anyone who does not have the resources to provide themselves, either on Docusign Envelope ID." 82F5F462-2FF&86CPAOA4-7A25573835C7 The Benevolent Fund of the Institution of Mechanlcal Engineern Report of the Trustees For the year ended 31 December 2025 a short or long-temi ￿51s, with the nomial things of Ilfe which most people take for granted, Example5 of ways in whlch Chant￿ might ￿lIeVe poverty Indude.. gTrnts ol money.. the provlslon of items (either outright or on loan) such as furnitu￿. bedding. clothingi food, fuel, heating appllances washing machlnes and fridges,. payment for servlces such as essential house decoratlng. insulation and repair5, laundenng, Tr￿als on wheels, outings and entertainment, chlld-minding, telephone line. rates and tsts"litie5,' the provision of facllltles suth as the supply of tools orbooks. payments of fees forinstmrtion. examlnatlon or otherexpenses connected with vorational tr31nln9, language. literacy. numerlcal or technical skills. travelling expenses to help the recipients to earn their living. equipment and funds for recreational pursuits or training intended to brlng the quallty of Ilfe of the beneflciaries to a reasonable standard,. the prOVi￿On of money n￿na9ernent and debt counselling advice are examples of the ways in whith charitles might help prevent poverty... Accordinglyi to meet Its poverty related objects. Support Ne￿Ork alms to prevent or relleve poverty by provldlng finan¢lal grants andlor non-flnandal support seryices to ellglble Indlvlduals In 'need' of them due to experlenclng dlfficulties In thelr Ilves. These can indude poor rnental health. •ccldents, 111 health, dlsabllityi bereavement, unemployment, relatlonshlp breakdown, the separatlon of famllles, meetlng the care needs of other5, andlor subsequently returnln9 to employment after attendlng to any of the same. Thus, In addltlon to cash grants and Interest- free secured loans, Support Nètwork also provldes speclallst advlce. Inforrnatlon, guldance, facllltated peer mentorlng. employment coachln9. counselllng, lonellness support, resplte breaks, and membershlps of autlsm and dyslexla support group5. At a det•lled level thls can Include: Grants to dlsabled or flnanclally dlsadvantaged undergraduates. Apprentlces. Dlploma and other students up to and Includlng those pursuing a PhD, to enable them to complete thelr studles and thus to become self-sufficlent, Ideally vla careers In mechanlcal englneerfng. • Prolesslonal employment coachin9 SUPPOrt to those who are unemployed, èt rfsk of redundancy* •ndlor to Improve Job seeklng prosperts. Includlng Post career-break. One-off payments for purpose speclflc expendlture, e.9. dlsablllty equlpment. * Tlme Ilmlted, 'breathlng space. 9rants to address temporary or transltlonal dlfflcultles. Interest-free secured loans to homeowners e.g. to asslst wlth essentlal works or dlsablllty. Debt and money advlce. . Themed payments to •5slst wlth partlcular expendlture e.9. Wlnter Warmth. • Advlce and 5UPPOrt from andlor membershlps of speclallst oryanlsatlons In respert of autlsm, dementla. care and the asso¢lated demand5 of meetlng these needs. Provlslon of resplte breaks and outlngs for carers and the cared for, elther together or separatelv. . A telephone befrlendlng and soclal vlslts servlce to reduce ￿d?1 Ssol•tlon and lonellness. Educatlonal, andlor Ilfe enhancing experiences for dlsabled chlldren, or at tlmes of parental separationl reduced financial circumstances. . Contrlbutlons toward5 meeting buildlngs and ¢ontents Insurance costs. Grants for fvrniture, beddlng, dothlng, food, heatlng appllances. washlng rnachlnes, frfdgts etc. . Fuel grants and energy effidency advlce to ensure thot homes 4re safe and warm. . Telephone. broadbandlwlfl and onllne access grants to promote soclal Incluslon. P¢ome emergency alert systems and other adaptatlons to enable Independent Ilvlng. . Self-access onllne informatlon guldes on a variety of subjetts. General and legal advice In respert of everyday, andlor court relèted prvblems, ensuring that informatlon needs are readily met andlor potential optlons for action are rdentlfled in a tlrnely manner. . cont￿butIonS to necessary spedallst health care not readilylpublidy available. Docusign Envelope ID." 82F5F462-2FF&86CPAOA4-7A25573835C7 The Benevolent Fund of the Institution of mechan1￿1 Englneers Report of the Trustees For the year ended 31 December 2026 . The provlslon of equlpment and adaptatlons to meet disabilitie5. New baby grants for essentlal items • Parenting and grandparenting support helpline and re5ource5 • Weblnars provldlng advlce In respect of flnance. wellbelng. nutrftlon and mental health • Sleep support * And response tallored to Indlvldual clrcvmstances... GRANT DISTRIBUTION IN 2025 In decldlng what asslstance to offer, Support Network assesses the needs of eoch applicant agalnst thelr Indlvldual clrcumstances, Indudlng thelr soclal and economlc conditlons. We recognlse that poverty Is a relatlve concept, and what constltutes poverty In an affluent soclety Is very dlfferent In absolute ternis from poverty In a developing country. In thls re9ar(J, and especially as much more can be understood from a face-to-face conversotlowb at the Jpplicant's home, the organisatlon places considerable weight on the report and recommendatlons made by the Vlsltor, recognlslng that, particularly Internatlonally. those based lo¢ally are better able to Jud9e what Is an approprfate and reèsonable standard for the baslc necessltles of Ilfe. Mental health dlfflcultles are also taken Into account, and very often, a sedes of vlslts wlll be requlred to fully support appllcants for whom mental health dlffl¢ultles are an onoolng Issue. Where P0S51ble all servlces are equolly avallable. I￿espectIve of geographlul l¢xatlon, e.9. Support Network uses an employment speclallst partner that can provlde thelr servlces on ? worldwlde b4$15 throLb9h the use of dlgltjl resources, emall andlor onllne meetlngs and contact. In seeklng to expand the charltable objectlves. the Trustee5 had due regard to the Charlty Commlsslon guldance on publlc beneflt and accordlngly deoded to ¢ommence fundlng projects whlch would Increase the reach of those asslsted to be beyond the defined ellglble group of IMechE members and thelr relatlve5. As such. the charoty can now reach further In undertaklng work to meet Its obJe¢tlves, )nd has contlnued to make such grants slnce the flrst was made In De¢ember 2020. We were pl*•sed to re•¢h a flve year mllestone of dellvery In 2025. £13.J55 Total grants l£12025 Indudln8 loans É9.403 £9,66B £21.543 . E•si MM•nds£4Q637 . f•51•rn 121,847 £2,962 £19.751 £21A47 . Gr••t•r L4)ndon £40,710 Intem￿lO￿al É70.761 M•rwsklè & P4.W•1•5£13,974 MPJknnd ÉSlh4> £416.7 . N¢xlh E•5t•rn E13MZ4 . North Westem É65,817 i North*m treknnd £10,064 .817 £25.251 E70 South E•st•rn E19,751 . South Wths £1 a3.424 ESl.443 W•Y4x ÉgA03 £13?74 Western £11355 10 Docusign Envelope ID." 82F5F462-2FF&86CPAOA4-7A25573835C7 The Benevolent Fund of the Instftutlon of Mechanical Englneern Report of the Trustees For the year ended 31 December 2025 Total Intematlonal Grants (£) 2025 £654. £2,rth.uo_ £1232.42 £654 El.950.ts) GOLA AUThIIA £1.31￿.clj £8,587.74 AUSTRL4 f6Y.CO DUBAI £6541XI . GEItMAKY INtXA IRELAND . MALA￿ . N￿ER[A PAK15fAN É)7.)4• UD¢A SRI LANKA SWIZERLAND . ThINIDAD &TOBAGO ACHIEVEMENT AND PERFOR14ANCE Actlvltl•s plann•d for 2025 wem: MAINTAIN A FOCUS ON MENTAL HEALTH INITIATIVES: Durfjng the year we wanted to contlnue to promote posltlve and/or preventatlve meaSU￿S to malntain good mental health and wellbelng. We wanted t¢* notlce and be responsive to any Issues of stigma Irelurtante to reach out for help and to reshape our offerlngs to èsslst In dellvertng svpport to those In need across a wider range of areas. All of these were achleved. For example, we provided 204 counselllng se551ons1121 In 2024,. 74 In 2023) showing that the ¢Jemand for thls servSce keeps Increaslng we are partlcularly happy to meet this need. We further expanded the range of weblnars to address wellbeing and financlal self-help measures, some of these belng targeted to speclnc sectlons of the membershlp e.9. over- parentlng,. grlef at work,. 5elf-care; w)sltlve mlndset,. self-esteem. We promoted the NEST (Nurturlng Empowering Supportlng Trninlngl helpllne and referral service to help pa￿ntS and carers feel assisted wlth prartical and emotional interventlons lo manage thelr competing demands at home and at work. Our Sleepstatlon offering to Improve stress-related sleep also popular. FURTHER ASSIST WITH ENGZNEERING CAREER FUTURES: We contlnued to focus on our Student, Apprentlce, and Newly Qualined orant programmes, both in the UK and Internatlonally. We were able to help a greater range of internatlonal students, due to the embeddlng of our model of worklng wlth Ir¢ternatSonal unSverslWes to identify and distribute funds to students. We expanded the international servire model In 2025, addlng Malayslan Universities. and in total worked with 18 universltles and helped 180 of their studen¢5 {6 and 95 re5pettlvely in 2024). Our employment tralnlng seThice also doubled the number of people helped, {61 refèrrals In 2025, up from 34 In 20241 and we a150 assisted with career break return and rnentortng support. EXPAND OUR FOUNDAnoN GRANT-MAKING: Our intention for the year was to build on our 2024 Y4ork and expertence in this area, by making more 9rants, Ideally across all of our tsryet ?rea5 of educatlon, englneering Innovation and intemational development and to see more projects through to completlon. In financial terms we made award decisions amounting to £275,488. Our work wlth the Sky Is The Llmit IsrtLI projert in Fort Portal, Uganda, via the Mondo Foundatlon. saw the implernentation of a pwltry fami (at Marna Rose) to make the school mo Docusign Envelope ID." 82F5F462-2FF&86CPAOA4-7A25573835C7 The Benevolent Fund of the Inslitution of Mechanical Engineern Report of the Trustees For the year ended 31 December 2025 sustainable throLrgh ftrntls fmm this buslness, as well as supplementing the diets of the chIld￿n through eggs and meat. We also entered a two year agreement to enhance the school premlse5 and Infrastruc￿re and as such we will continue to work wlth thls project In 2026. We funded the construrtion of a suspension trail bridge in Manyall. Uganda, to ￿nnect communltles and enable economlc regeneratlon. contlnulng the work wlth this provider partner, Bridges to Prospertty (now known as Flka), and also frjnded our first stone arch brldge. in Nyakaruru, Rwanda. We commence(I working wfch Tearfund on a wasre plasD"c recycling project In South Sudan. We were pleased to reach a five year milestone of delivery bn 2025 and to note that 25 project5 have been supported or are currently being sUPPOrted, slnce in¢eptlon. IMPLEMENT ESG PRINCIPLES TO OUR INVESTM£MT PORTFOUO (envlronmen( sodal, governanee) and UNDERTAKE FINANCIAL REVIEW: Dutlng 2025 we monitored the impact of havlng previously converted our multl-asset holding wlth Cazenove Into their sustalnable fund, and were pleased to flnd that pertorman¢e was tomparoble, whllst the new holding ts completely compatible wlth our new ESG alms. The focus of the year was to look at other potentlal changes to brlng our holdlngs into line e.g. Fidelity Asia bias. Whilst this was o prolonged dlstusslon lasting throughout the year. It has brought darlty to our deCI￿On maklng process re investments, and a greater confldence to take the necessary steps In Qs 1-2 of 2026. We felt that the staff team could COn￿n￿e to cJrry Jnd absorb the fvnrtTrons of the prevlous Finan￿ Officer post, preferrfng to look to a communlcatlons post before expandlng the team In a flscol dI￿rtIOn. Thls wlll be further progressed In 2026. PLACE DIVERsifY & INCLUSION AT THE HEART OF ALL THAT WE DO: Ourlng the year we were dellghted to see that our expanded neurodiverslty offerlng wlth the National Autlstl¢ Soclety contlnued to be well used wlth 18 rèferrals made. acceS￿ng 38 dlfferent aspects of the programme 111 and 32 respertlvely In 20241. Th15 helps IMechE member f4mllles wlth autlsm to obtaln tlmely dlagn051s and on90ing sUPPOrt for their children or thern5elves many people ore dlagnosed once they are adults, often as they recognlse behaviours in thelr chlldren that they also have. We also helped wlth ADHD and dyslexia related issues. We malntalned our web51te offerings to Include new aspects of nutrttlon, stress, anxiety, mlgraine, menopause and men's mental and physical health topl¢s. We addrèssed Issues of fertility and how thls Impacts on work performance. These have proved to be very popular, both In those who Join the live event ar*d those who later access the recordlng. We IntrOdu￿d a dernentla support Servi￿ for corers and those experlenclng dementla. We malntalned the profile of having Board member5 who are engaged In all stages of thelr ca￿er, ranglng from undergraduate study, to Infclal and senior roles, throuoh ro retlrement. The age proflle of the Board Is the youngest it has ever been, 4 of the 9 members are female, and two are people of colour. One Trustee is a non-UK national. based In Angola. We have Increased our communlcatlons to the global membershlpi and offered onllne contart whenever an In person vlslt was t)ot P055ible, thus Increaslng the peer-to-peer element of our work. SERVICI U5eR IfEEDBACK Serylce users and project reclplents regularly tell us that our Interventlons make a posltlve dlfference to them and thelr famlly. Examples recelved durln9 2025 Induded: ..On behalf of the staff and s￿dentS of Mechanlcal Engineenng. UNICAL (Unlverslty of Calabar, Nlgena), we want to express our slncere grntitude to entire executive members of Support Network IJ¥lechE for linding some our students worthy to be benefidarles or the Student Ha￿ShIp Grant. The qrant has gone a lon9 way In allevlaring thelr school charges and acconpmodations, and helps them to study without byorry. We will forever be grateful for thls klnd gesture as we look forward to fveU￿ opportunltss for our Students once aqain in this ￿ard5-. Engr. Dr. Raymond Ana. Head ofDepartment, Me¢hani¢al Engineeringi UNICAL [JNTERIVA TIOhlAL STUDENT GRANTS PROGRAMME] ..Lts)kirrg back now I realise tljat I've had a good ￿￿r. Support Network prnvldlng me with neumdiversity assessment grant has helped me to dlscover more about myself and to undetstand y p￿vIouS olallenges - the d¢Xtor thinks got autistic traAts - and pert￿￿5 I do look at things in too rnuch detail sometimes, but J"m starting to use that dlfferently. I gained the Confiden￿ to apply for CEng with IMethE. and to apply for a new p￿tion, I'm feelAng so much brighter about the filtU￿ - thank you." [NEURODJVERsifY SUPPOR T] 12 Docusign Envelope ID." 82F5F462-2FF&86CPAOA4-7A25573835C7 The Benevolent Fund of the Institutlon of Mechanlcal Engineors Report of the Trustees For the year ended 31 December 2026 ..The last bridge that was there was carrfed away and many people died. When crOs￿ng this new brldge for the first time I really felt that I'm in a new now and we ￿ seeing there Is a great improvement in our village now,. chIld￿n will not miss school even if It rains. as they can no cross the river even when it IIow5 Strongly and they 11 stlll come back home safety... Jacqueline N&mire, Manyall Comrnunity Member [IMPACT OF OUR FOUNDA710N FUNDINGJ FINANCIAL REVIEW Support Network has three maln sources of Income: {a) donations re￿1Ve0 from IMechE members durfng the year, with a5sooated Glft Aid receipts where applicable,. {bl legacy and in memorlam gift donations; and Icl Investment dlvldena income. (Capltèl gains are also obtalned from the investment portfolio, and where funds are held as 'accurnulatlon unlts. any receipt5 are automatlcally relnvested Into the investment holding, rather thèn drawn as Income per se, In order for the some to hold long-term value against changes In InflatSon over tlme). Support Network has an unrestrlrted Investment fund whlch Is invested to provide a regular and reliable source of income for Support Network. The Trustees are legally bound to promote the best long- term Interests of Support Network and to rnake adequatè provlslon for both present and future beneficlarles. The overall Investment policy Is to obtoln the best flnanclal return fmm Support Network's assets, conslstent with acceptable rfsk and wlthln ¢)ur ESG (Envlronment, Soclal, Govemance) objectlves and approach. To achieve th15, the glven powers of Investment wlll be exerclsed so that the assets yleld the best lon9-term return by way of both Income and capltal apprecljtlon, Judged In relatlon to the nsks of Investment. The portfollo Is dlverslfled In respe¢t of asset class, geographlcal exposure and Investment managers. The net surplu5 for the year ended 31 December 2025 was £4.949,783 (E4. 133,511 In 2024). Expendlture was £1.072,250 {£944.963 In 2024). uest Inve ntere tfrom merb Voluntary Income, comprislng donatlons and bequests. were recelved at a value of £400,773 (2024- £439,824). In 2025. dlvldends and Interest from the Investment portfollo amounted to £1,343,274 (2024: £1,301,440). The Trustees contlnue to have a preferred strategy of largely holdlno Support Network's eoulty-based Investments In a¢cumulatlon unlts, (rather than drawlng an Income stream from the same). In order to offset any losses in ¢apltJl value, and hence to help to preserve funds for the future, save for the COIF Chadfund holdlng where at tlmes the dlvidend was drawn In order to provlde greater operatlonal Income durlng the flnanclal year. The Trustees again dedded the strategy of meetlng any final operatlonal deflclt at the year-end through drawlng from the reserves. rather than Ilmltlng 9rant or service prov151on expendlture In year. From the total expendlture 99% was spent on charttable actlvltles 199% In 2024). Thls Induded charltable grants of £686.437 {2024: £540.237). 3) Inv•*tment Portfollo The allocatlon of Support Network's Investment portfollo at the close of 2025 was.. VALUE ASSET INVESTMENT BENCHMARK 27.7% Equlties M&G Charifvnd SE All Share Index 44.4% Equitie5 M&G Global Dlvidend Fund FfsE All sho￿ Index 13 Docusign Envelope ID." 82F5F462-2FF&86CPAOA4-7A25573835C7 The Benevolent Fund off the Institution of MKhanical Engineers Report of the Trustees For the year ended 31 December 2025 12.1% Equities Fidelity Institutlonal Funds FfsE All Share Index 7.5 Multo Asset cazer￿Ve Charity Multi Asset ￿SE All Share Index Fund 4.4% Property Charltles Property Fund HSBC Index 2.3% Equltles COIF Investment Fund FfsE All Share ]r￿eX 1.6% Cash COIF Deposit Fund London Interbank Rate Bonds COIF Flxed Interest FurKI WM Co. UK Bonds Glven the lowerlng Interest rètes now offered on ush deposots. the amount held in the COIF Deposbt Fund has been malntsined at a low level. In Jddltlon to the Investments above, the organisatlon also benefits from dlvldends recelved from the JP Dudln Trust - a ft*rnier legacy glft - though we do not have any control over how the orl9lnal trust caplt•l Is Invested. 4) Socl•l. •nvlronm•nt•l or •thlul ¢on¥tr•lnt• In the annual revlew of Investment pollcy for the tharlty. the Trustees ¢onsldernd whether there should be any soclal, environmental or ethlcal conslderatlons to Impose constralnts on htsw Support Network should Invest and commenced work to create a screened ESG (envlronmental. soclal, governan¢e) fo¢ussed approach. With many of the Instltutlon's members working In industries commonly atrrlbuted to low ESG scorlngs the Trustee Board has taken great conslderatlon as to whether any Industries should be wholly exduded from the Investment portfollo. Following a poll undertaken In November 2022, and confirmed in 2024. the Trustee Board has commltted to understand Its exposu￿ to and commence excluslon of Investments from the portfollo in the followlno areas: gamblln9 ¢)peratlons pornography & violent materfal tobacco produttlon oppresslve regimes anlmal testing hlgh interest lendlng akohol productlon partles without an antl-slave labour poll Reallgnment across these areas commenced in February 2023 as part of the 5-year cycllcal revlew of the organlsatlon'5 Investments. worklng towar(Is completlon by the end of 2026. S) Res•rv•s Polky and Dulgnated Fund Support Network 1$ 4 'dased' charlty In that ￿ does not actlvely seek fundlng from outslde the membership of the Institutlon of Mechanlcal Engineers. Each year, a slgnlficant proportlon of the cha￿ty,5 income 15 derived frorn annual and irregular donatlons, and bequests. Legacy Income, however, Is very uncertèln, as a￿ the levels of donatlons per se, and It cannot be guaranteed that voluntary donatlon levels will be repeated lor increased) year on year. In order to safeguard the ongolng provision of grants to Cur￿nt beneflC1a￿es, and to cover non- dlscretionary expendlture, (such as salades, pension contrfbutions, rent), the Trustees hold reserves at a minimum level of one year's average expenditure. In Jnticipatlon of increased grant glvlng andlor soclal Investment Inltlatlves. It has been agreet1 to incxea$e the level Of reserves from £1,000,000 to £2,000,000. 14 Docusign Envelope ID." 82F5F462-2FF&86CPAOA4-7A25573835C7 The Benevolent Fund of the Institutlon of Mechani¢al Englneers Report of the Trustees For the year ended 31 December 2026 Additionally, durfng 2020. Trustees agreed to create a designated fund to meet operatlonal expendlture 'in perpetuity, and set thls fund at £8,000,000. As at 31 December 2025, total funds exceeded thls comblned £10,000,000 amount. Accordingly, the funds are held to ensure future needs can be met, espedally If there is an unexpected large-scale event requlrlng addltlonal rex*urces to be provided e.g. a slgnlflcant downturn in a sector of the mechanlcal englneering Industry at a future (late. Accordlngly, the Trustees are confident that the introduced foundatlon glvlng approach can be further irnplemented and est4b115hed, as the level of Immediate and long-tenn rtserves has been more than achleved, and that thls Is an actlve strategy In order to best use some of these resources. The reserves pollcy Is revlewed annually, taking Into aecount the latest forecasts of income, expenditure and change5 In grant maklng pollcy. The free reseNes at the year end were £36,202,650 (£35, 119,356 In 2024). 6) Grant Maklng Poll¢y All grants made In 2025 were for the benefft of Indlvlduals, save for the foundatlon fundlng grants that are detalled below. In 2025, 356 members contacted us for the flrst tlme {2024.. 284), thelr requests Indudlng help wlth finances. employment coachlng, dyslexla support. soclal vlslt5 or legal advice. Durlng the year 934 9rant payments were made (2024: 823}. The maJ"orlty of grants and support declslons were elther determlnedlconflrmed by the Grants Commlttee, {whlch met twlce durlng the year),. through the remote deasion-maklng partels- or were Inltlally made by the staff team, and subsequently authorlsed by a deslgnated Trustee through the Offlce Declslons process. All proposed Office Oeclslons were made avallable on a password restrtrted basls to Trustees viè the Extranet, to allow Trustees to see whether they agreed wlth the declslons made by the staff. Where the Chalr, CEO or the Operatlons & Servlces Dlrertor made grant funding declslons, these were made wlthln the agreed delegated Ilmlts of both value and type of award, and were reported to the subsequent Grant Commlttee meetlng. Conslderable care Is taken to ensure that appllcants are able to apply for all welfare benefits. state support and/or other thlrd-party a$slstance that they might be entitled to, before charltable grants are Made. Support Network alms to make a posltlve Impact and dlfference on the Ilves of people who are ass15ted, and accordlngly at the outset of provldSng support, the avoldance of creating long-terrn dependency Is paramount. so that wherever posslble, people are helped to help themselves. Examples of grants awarded Included: allowances towards fuel and utlllty ¢05t5,' travelllng expenses for vlsltlng people In hospfjtal or nurslng ¢are- televlslon Ilcence fees; telephone calls. computer eqvlpment, broadband and wlfl a¢¢ess", crlsls payments to relleve sudden unantlclpated flnan¢lJl needs; replacement Items such as washlng machlnes, cookers, fridges, heatlng appllances; health and medlcal equlpment; powered moblllty vehlcles; essential house repalr5 and Insulatlon,. adaptatlons to the homes ol dlsabled people,. gardening Costs for older people; care help at home- personal emergency alams. arrangements for resplte care and the costs of respite breaks. and asslstance tovdards reslt1ential and care home care costs. A separate programme of grants Is 4vallable for d15abled or disadvantaged Apprentlces, undergraduates, and other students who are fMechE members, Irrespectlve of where In the world they Ilve or study. A 'Newly Qual¢fled' fund Is avallable for IMechE members who have completed thelr studies or tralnlng in the Immedlate past three years, as the fund seeks to ease the transltlon Into the world of work. The foundation funding element of our work Is dlvlded Into the areas of It)ternatlonal development; education: and engineerlng innovation. We want our work In these areas to Ideally have a STEM (sclence, englneerlngi technologyi mathematics) focus and to also allgn wbth the work of the IMeehE. We additionally frame these areas wlthln the UN Sustainable Development Goals. Whllst we have a preference for making award to or through UK based charitable organisations (as we feel that in the Inltlal stO9es of our enterfng thi5 work thls Is a lose 'flt' for undertaklng our due diligence proces51 thls Is not a fjxed requirement, especlally where we feel that the ultimate outcomes and Impart of the funded work wlll help us to meet our expanded charitable objectives In respect of uslng engineerlng to relieve poverty in the wldest sense. 15 Docusign Envelope ID." 82F5F462-2FF&86CPAOA4-7A25573835C7 The Benevolent Fund of the Institution of Mechanical Englneers Report of tho Trustees For the year ended 31 December 2026 7) P•ns5on Funds I current Support Network staff are enrolled In the IMechE's contributlon-based penslon scheme which is operated by Scottish Widows plc. During 2025. the employer rate was 10% 12024: 10%). The company used to operate a defined benefit scheme whlch is now closed. As prescdbed by FRS 102, the funding level of the deflned benefit penslon fund must be disdosed. After an actuarial report carried out for the IMechE con5011dated accounts to 31st December 2025. thè penslon fund was 100% funded. 5ttttement of Tru3t¢es' rn•pon$lbllltlu In rnjpect of the Tru•tees' annual report •nd the flnanclal statements The Trustees are responslble for preparlng the Trustees, Annual Report and the flnanclal statements In accordance wlth appllcable law and re9ulations. Company law requlres the Trustees to prep•re financlal statements for each finanaal year. Under that law they are requlred to prepare the financlal statements In accordance ￿th UK Accountlng Standards and appllcable law (UK Generally Accepted Accountln9 Prartlce). Under company l•w the Trustees must not approve the flnandal statements unless they are satlsfled that they glve a true and falr vlew of the state of affalrs of the charltable company and of the excess of Income over expendlture for that period. In preparln9 these flnanclal statements, the Trustees are requlred to select sultable )¢￿untIng polldes and then apply them conslstentlys make Judgements and estlmates that are reasonable and prudent; state whether appllcable UK Accountlng Standards have been followed. subject to any rn•terlal departure5 dlsclosed and explalned In the finandal statements; and prepare the flnanclal 5tstements on the g¢ln9 COrt¢errt basls unless It 1$ Inapproprlate to presume that the charltable company wlll ontlnue Its actlvltles. The Trustees are responslble for keeplng adequate accountin9 records that are sufflclent to show and explaln the tharttable company's transathons and dlsdose wlth reasonable accuracy at any tlme the financial posltlon of the charltable company and enable them to ensure that the flnanclal statements comply wlth the Comp•nles Act 2006. They have general responslblllty for taklng such steps as are reasonably open to them to safeguard the assets of the charltable company and to prevent and detect fraud and other irregul•dtles. Each of the persons who Is a Trustee at the date of approv•1 of th15 report ¢onflrms that: So lar as each Trustee Is aware, there Is no relevant 47udbt Inforrnatlon of whlch the ¢ompJny's audltor Is unaware. and Each Trustee has taken all steps that they ought to have taken as a Trustee to make themselves aware of any relevant Judlt Inf¢rmbtlon and to establlsh that the company'5 audltor Is aware of that Informatlon. The tNstees have tsken advantage of the small companle5' exemption In preparlng the trustees, annual report and thè ftnanclal statements. PLANS FOR FUTURE PERIODS During 2026 Support Network plans to contlnue our core work of helplng member5 and their famllles, In additlon to fvndlng mission allgned projects and almln9 to govern our organisatlon to the highest standards. As gjch we will work to.. ASSIST wrni ENGINEERING CAREER FUTURES: Contlnue to ftsaJ5 on OLFr Student, Apprenknce, and Newly Qualified grant programmes. both in the UK and intematlonally, plus employment trainlngi career break return and mentorfjng support, wlth a core response to members at rlsk oflexperiencing rEdundancy to enable them to enter. re-enter or remain in engineering or ￿lated paths. Work In partnershlp wlth the IMechE/others to support programmes that enable STEM focv55ed work experience proorammes andlor remove barrlers to enterln9 the mechanical engineering profession as part of our diversity and inclu%on work. Ftjrther expand the model or worklng dlrectly wlth universities to atldltionèl countrfes to more wldely dlstrfbute the International student hardshSp grant. 16 Docusign Envelope ID: 82F5F462-2FF8-86CB-80A4-7A25573835C7 Docusign Envelope ID." 82F5F462-2FF&86CPAOA4-7A25573835C7 The Benevolent Fund of the Institution of Plechanical Engin•ern Report of the Trustees For tho y•ar ended 31 Decombor 2025 Reference and Adminlstratlve Information Name: The Benevolent Fund of the Institution of Mechanical Engrneers {Sypport Network) Chadty Reg. No.209465 Company Reg. No.130981 Reg15tered Offlce: 3 Blrdca9e Walk, London SWIH 9JJ ROLE NAME COMMTTfEES 2025 TB MEETINGS ATtENOED NOTES Chalrllrom Jul 2024 De uty Ch4ir Treasurer Intem3tlonal Trvstee siror Trustee Youn Member Trustee Trustee Tnjstee Twstee Trtjstee Trustee CEO & Co. Sec. Farah Baksh Bob Cuthbertsoii And￿￿ Rowlarx1 Chukwuma Oriunkwo David Pdce Harshrtha Man Al Peas16nd Jodle Fk)wlett Ton Frater Martln Burrows Wend Gorner Annt 8roadhead 123.456 ubaR Aetlredjanv 2026 Retlred Ju 2025 Elected Jul 2025 Elected Jul 2025 12345910 K•y to CommItt￿O Member of the Grants Commlttee Member of the Personnel Commlttee Member of the Fln)n¢e Commlttee Co-lead on CommLJnicJtlons and IMechE relatlonshSp Co-representarive on JMechE Dlversity & Culture Board Member of the New Appllcatlon Panel Member of the Student & Apprenticeshlp Panel Member of the Offlce Declslon Panel Lead on General Data Protertion Regulatlons Lead on Foundatlon Fundlng rMechE Reduced Subscrlptlons panel representatlve Lead on membershlp survey & ￿latIonS io li 12 K•y Manag•ment Personn•l The Trustees have dele9ated slgnlficant authorlty and responslblllty In the day-to-day runnlng of the char￿Y to the Chlef Exeartive. Annl Broadhead. Inv•stm•nt 14afftag•rs: Cazenove Schroder & Co. Limited, 31 Gresham Street. London EC2V 7QA CCLA Investment Management Llmlted. 80 Cheapslde. London EC2V 6DZ Cordea Savllls LLP, 33 Margaret street, London WIG OJD Fidelity Intemational, 130 Tonbridge Road, Tonbrldge. Kent. TNI 1 902 M&G Ltd, Laurence Pountney Hlll, London EC4R OHH Bankers: Natwest Bank plG 38 Strand. London WC2N 5JB Audltors: Moore Kln9Ston Smlth LLP, 6t* Noor, 9 Appold St, London EC2A 2AP Sollcltors: (charity law) Wedlake Bell LLP, 71 Queen Victoria Street, London EC4V 4AY 5oll¢ltors: (finances) Withers LLP, 20 Old Balley* London EC4M 7AN 18 Docusign Envelope ID." 82F5F462-2FF&86CPAOA4-7A25573835C7 The Benevolent Fund of the Ingtltutlon of Mechanlcal Englneers Report of the Truslees For the year ended 31 Decembor 2025 INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF THE BENEVOLENT FUND OF THE INSTITUTION OF MECHANICAL ENGINEERS Oplnlon We have audited the financial statements of The Benevolent Fund of the Institutlon of Mechanical Engineers {'the charltable company,) for the year ended 31 December 2025 which Comprise the Statement of Finanoal ArtlvStles, the Summary Income and Expendlture Attount, the 8alance Sheet, the Cash Flow Statementl and notes to the flnancial statements, Includin9 significant accounting pollcles. The flnancial reportln9 framework that has been applled in thelr preparation is appllcable law and Unlted Kingdom Accountlng Standards. including FRS 102'The Flnanclal Reportlng Standard Applicable In the UK and Republlc of Ireland, (Unlted Kingdom Generally A¢cepted Accountlng Practice). In wr oplnlon the flnanclal statements., glve a tNe and falr vlew of the state of the chadtable company's affairs as at 31 December 2025 and of Its Incomlng resources and applicatlon of resources, Indudln9 It5 Income and expenditure, for the year then ended.. have been properly prepared In accordance wlth Unlted Kln9dom Generally Ac¢epted Accountlng Prartice,. and have been prepared In accordance wlth the requlrements of the Companles Art 2006. BMI• for oplnlon We condurted our audbt In accordance wlth Intematlonal Standards on Audltlng (UK) (ISAS {UK)I and appllcable law. Our responslbilitie5 under those standards are hjrther descrlbed In the Audltor's Responslbllltles for the audSt of the flnantial statements 5ectlon of our report. We Jre Independent of the charttable company In accordance wlth the ethl¢al requlrements that are relevant to our audlt of the flnanclal statements In the UK, Includlng the FRC'S EthScal Standard, and we have fulfilled our other ethical responslbllltles In accordance wlth these requlrÈments. We belleve that the audlt evldence we have obtained Is suffident Jnd appropriate to provlde a basls for our oplnlon. Concluslon• r•l•ting to 9olng Com￿r￿ In auditing the flnandal statement5, we have concluded that the trustees, use of the 9olng concem basls ol accountlng In the preparauon of the ftnancial statements is approprlate. Based on the work we have perfom)ed, we have nor Identified any mater1al uncert?Inties relatlng to events or condltions that, Individually or collectively, may cast Slgnificant doubt on the charltable company's ablllty to contlnue as a golng cOn￿rn for a perfod of at least twelve months from when the flnancial statements are authorlsed for issue. Our responslbllltles and the responsibllltyes of the trustees with respect to golng con¢m are described In the relevant sethons of thi5 report. Olh•r Inforniation The other informatlon comprbses the Infomiatlon Induded In the annual report, other than the flnan¢iJl statements and our Judltorfs report thereon. The trustees are responsible for the other Informatlon contained wlthln the annual ￿port. Our oplnion on the flnandal statements doe5 not cover the other Information and, except to the extent othernlse expliauy stated Sn our ￿port, we do not express any form of assurance cOndus￿n thereon. Our responslbility is to read the other Infom)ation and, in dolng so, conslder whether the other informatlon Is rnaterlally inconslstent wlth the financial ststements or our knowledge obtained in the coutse of the audlt or otherwise appea￿ to be Materially misstated. If we Identify such Mate￿01 inconslstendes or apparent material mlsstatements. we are required to determlne whether the￿ 15 a material misstatement In the financial statements themselves. If. based on the work we have 19 Docusign Envelope ID." 82F5F462-2FF&86CPAOA4-7A25573835C7 Tho Benevolent Fund of the Institutlon of Paechanlcal Engineers Report of the Trustees For the year ended 31 December 2026 performed, we condude that there is a material mlsstatement of thls other Inforniation. we are requlred to report that fart. We have nothlng to report in this regard. Oplnlons on other matt¢rs pr•scrlbed by th• Companles Art 2006 In our oplnlon. based on the work undertaken In the course of the audit.. the Infomiation given In the tru5tees' annual report for the flnanclal year for whkh the flnanclal statements are prepared Is conslstent wlth the finandal statement5,' and the tTU5tees' annu•l report have been prepared In K￿rdance wlth applicable legal requlrements. Matters on whlch we ar• r•quir•d to report by exe•ptk•n In the light of the knowledge and understandin9 of the Charitab￿ company and Its envlronment obtained In the ¢ovr5e of the audit, we have not identlfled materlal m15Staternent5 In the trustees, annual report. We have nothlng to report in respect of the followlng matters where the Companles Act 2006 ￿qUIreS us to report to you If, In our oplnlon.. èdequate accountlng records have not been kept, or returns adequ)te for our audlt have not been recelved from branches not vislted by us,. or the financlal statements are not In agrtement wlth the actountln9 records and ￿turnS. or certaln dlsclosures of tfU5tees' remunerètlon 5pecffled by law are not made; or we have not recelved all the Infomatlon and explanations we requlre for our audlt,. or the trustees were not entitled to prepare the flnaneh)I statements In accordance wlth the small companles reglme and take advanta9e of the small companles exemptlon In preparlng the trustees, annual ￿pOrt and from preparlng a 5trateoic report. R•spoTh•lbllltle• ol tru•t¢•• As explalned more fully In the trustees, responslbllltles statement set out on page 15, the trustees Ivrfho are also the dlrectors of the charitable company for the purposes of company lawl are re5pon5ibl* for the preparatlon of the financlal statements and for belng satlsfied that they glve true and tslr vlew, and for such internal control as the Irustees determlne is necessary to enable the preparatlon of financial statements that a￿ free from material rn15ststement, whether due to fraud or error. In preparlng the financlal statements, the trustees are responslble for assesslng the charltable company's ablllty lo continue as a golng concern, dIsclo￿n9, as appllcable. matters related to golng concern and using the golng concern basls of accounting unless the tnjstees either Intend to Ilquldate the charitable company or to cease operatlons. or have no reallstic alternative but to do so. Auditor'• Re>ponslbllttl¢• for th• audlt of the flnancl•l •t•t•m¢nt• Our objectlves are to obtain reasonoble a55urance about whether the financial ststements as a whole Jre free from material m155tatement, whether due to fraud or error, and to Issue an auditor's report that Includes our oplnlon. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted In accordan￿ with ISAS (UK) wlll always detect a materlal mlsstatement hen It exlsrs. Misstatements can artse from Iraud or error and are consldered rnaterial if, Indlvldually or in aggregate, they could reasonably be expected to lnfiUen￿ the economic dec151ons of users taken on the basls of these flnancial statements. As part of an Judit in accordance with ISAS (UK) we exercise professlonal Judgement and malntaln professional seeptlclsm throughwt the audlt. We also: Identlfy and assess the risks of material mlsstatement of the financlal statements, whether due to fraud or error, design and perforn) audrt prO￿￿￿reS responsive to those rfsks, and obtaln audit evidence that is sufficient and appropriate to provide a basls for our opln60n. Docusign Envelope ID." 82F5F462-2FF&86CPAOA4-7A25573835C7 The Benevolent Fund of tho Instituiion of Me¢hani¢al Englneers Report of the Trustees For the year ended 31 December 2025 The risk of not detecting a material rni5Statement resulting from fraud is higher than for one resultlng from error, as fraud may Involve collusion. forgery, intentional omlsslons, mlsrepresentatlons, or the override of internal control. Obtaln an understanding of internal control ￿levant to the audit In order to deslgn audlt Pro￿dureS that are appropriate in the orcumstances, but not for the purp05es of expressing an oplnlon on the effectiveness of the chafltable company's Intemal control. Evaluate the approprlateness of accounting policies used and the reasonableness of accounting estimates and related dis(JOsu￿ mat1e by the trustees, Condude on the appropriatene55 of the trustees. use of the going concern basls of accountlng nd, based on the audlt evldence obtslned, whether a materlal uncertalnty exlsts related to events or conditions that may cast slgnificant doubt on the charitable company's ablllty to Con￿nUe as a golng con￿rn. If we conclude that 4 materlal uncertalnty exlsts, we are reouired to drdw attentlon In our audltorfs report to the related dlsclosures In the financlal statements or, if such disclosures are Inadequate, to modify our opinion. Our eoncluslons are based on the audit evldence obtalned up to the date of our audltor's report. However, futu￿ events or condltlons may cause the charltJble company to cease to contlnue a5 golng concern. Evaluate the overall presentatlon, structure and content of the flnandal ststements, Including the dlsclosures. and whether the flnandal statements represent the underlylng trnnsactlons and events In a manner that achleves falr P￿sentatiOn. We communlcate wlth those charyed wlth governance regardlng. among Other matters, the planned scope and tlmlng of the audit and si9nificant audlt findings. Includlng any si9nlflcant deflclencles In Internal control that we Identlfy durlng our audlt. Explan•llon •• to wh•t •xt•nt th• audlt w•• con•ld•r•d ¢•p•bl• of d•t¢ctlfi9 Irregulurltle•, Includlng fr•ud Irregularltles, Includln9 fraud. are InStan￿S of non-compllance wlth laws and requlatlons. We deslgn procedures In line wlth our responslbilltles, outllned above, to detect materlal m155tatements In respert of Irregularltles, Includlng fraud. The extent to whlch our procedures are capable of detettlng Irre9ularftle5, Including fraud Is detalled below. The objectlves of our audit in respert of fraud, are; to identlfy and asses5 the risks of matertal mlsstatement of the flnancSal statements due to fraud,. to obtaln sufflclent èpproprSate audlt evldence re9arding the assessed risks of matertal misstatement due to fraud, through deslgnln9 ènd Implementlng apprOp￿ate responses to those assessed rlsks: and to respond approprlately to instances of fraud or susperted fraud Identlfied during the audlt. However, the primary ￿sponSIbl11ty for the prevention and detectlon of fraud rtsts wlth both management and those tharged wlth governènte of the charitable company. Our approach was as follows: We obtained an understandlng of the legal and regulatory requlrements appllcable tD the charltable company and considered that the most slgnlficant are the Companles Act 2006, the the Charity SORP, and UK flnancial reporting stèndanls as Issued by the Flnancial Reportlng Coundl. We obtalned an understsndln9 of how the charltable company complie5 With these requlrements by dlscussions with mènagement and those tharged with governance. We assessed the rlsk of materlal mlsstatement of the finandal statements, Includlng the rf5k of materlal misstatement due to fraud and how it might OCc￿r, by holdlng dlscussion5 Wlth management and those charged wtth govemance. We Inqulred of management and those tharged with governance as to any known instances of non-compliance or suspected non-compliance with laws and regulations. 21 Docusign Envelope ID." 82F5F462-2FF&86CPAOA4-7A25573835C7 The Benevolent Fund of the Institution of Mechanical Engineers Report of the Trustees For the year ended 31 December 2026 8ased on thls ￿r￿erstanding, we designed specifi¢ appropriate audlt procedures to identify instances of non-cornpliance with laws and regulations. This included making enqulries of management and those charged wlth 9ovemance and obtainlng addltlonal corroborative evidentt as requlred. There are inherent limitations in the audit procedures described above. We are less Ilkely to become ware of Instances of non-compliance with laws and regulations that are not closely related to events and transactlons ￿flerted In the flnanclal statements. Also, the rlsk of not detecting a materlal misstaternent due to fraud Is higher than the risk of not detec￿n9 one resulting from error, J5 fraud mèy Involve deliberdte concealment by, for example, forgery or Intentfjonal misrepresentations, or through colluslon. U•• of our r•port Thls report Is made solely to the charftable company's members, •s a bodyi in accordance wlth Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertsken $0 that we mlght stste to the company's Members those matters we are requlred to state to them In an audltor's report and for no other purpose. To the fvllest extent perniltted by law, we do not accept or a55ume responsibllity to any party other than the chamtable company and charltable company's members a5 body* for our audlt work, for thls report, or for the oplnlons we have formed. SbMdlL Uf s {Partnerl for and on behalf of Moore Kln9Ston smith LLP Statutory Audltor London ECIM 7AD 301712026 Docusign Envelope ID." 82F5F462-2FF&86CPAOA4-7A25573835C7 The Ben•volwrt Fund of th& Inststtrtion of Mochanl¢al Engln•ern Statèment of Financial Activl Forthe ￿ar ènded 31 D•c￿n￿r 202S Total Totsi Iunmtrthd) lUnF¢*i￿) (unw•*t￿l•￿F G•n•MI Fund• TrAal IUrmtrf¢thdl 2025 1024 Incorn•wd EndowTh•rt• frcffj: Drfflatiani, b•qwtti 4M.773 4CQ,7T3 439.824 In*rwt & d￿￿j￿r 1.343.274 1.343274 1,301.440 Totil 1.744,017 1.744,047 1,741,284 E4v•ndttur• on.. ng lundl Ch•rh*kn 7.841 1.094.4 7.841 I,C44.IL 7,505 937,4 Y¢t•i 1.072.280 4.277.906 3.397.211 4,949.78J 4,949,78S 4,1J3.S12 14 4.W9.783 4,549.nJ 4.133,512 R•¢onclll4tton ollund*'. fund8 t¥tyJoM Tot•llund# Gvrf•d 14 14 39.252.868 35 119 306 39.252, 36.202.651 8.rth.rp)J Th• n￿**￿# 1 tg21 form pm Docusign Envelope ID: 82F5F462-2FF8-86CB-80A4-7A25573835C7 Docusign Envelope ID." 82F5F462-2FF&86CPAOA4-7A25573835C7 The Benevolent Fund of the Instltutlon of Mechanlcal Engineers ststement of Cash Flows For the ear ended 31 December 2025 2025 2024 Ca8h flo￿ from op9fdtlng actlvlUg5: Nel cash usgd in oper81ing aclNiti88 6C4.051 602211 Cash flows from investlng actfvitios: Dividends and intere51 Purchase of Investrnents Proceed¥ frc4n sale of investrnents Change in cash held by inve8lment 1.343,274 1.301.440 1434,1381 1399,6941 11 (5,5551 158.9301 Net cash provlded by Invosting actlvlti Chenge in cash ènd cash equIV8￿n1s in th8 I8￿￿rth9 Cash anLI Cash 8quNa1￿1S at Ihe be￿ir￿a ofthe ro￿lIng pen¢ Cash and cash fjquNal￿ts 81 th6 ènd olth8 r8Kh)rtlng 299,$30 411,451 710,981 242,603 168,848 411.451 Net Incom8 for the rnportlng p•rlod Adjustments for. Dividends. intar851 from inveslmenls D8cr8a8e I (Ir￿re•se) in debtors Ine￿ase I Idecrea&el In ¢reditor8 (Gains) I losse$ on investments Net C&¥h us8d In op•ratlng actlvStl•s 4,949.783 4.133.512 (1.343.274) {1.301.440) 1303,276) 206,203 3,337.211 I28,￿1) 4,277,986 {604.OS1} 1602.2111 At 01101126 Ca*hflow• Non4ash Al 31112126 Nei Debt Nole Cash Cash with inv8Stmenl manager 411,450 164,171 575 621 299.526 5.555 305 081 710,976 169727 880.70 25 Docusign Envelope ID." 82F5F462-2FF&86CPAOA4-7A25573835C7 The Benevolent Fund of the Institution of Mechanical Engineers Accounting Policies For the year ended 31 December 2025 ACCOUNTING POLICIES The Charty a prNate limrted ccrnpany {Charty Reg. No 209465. Company Rgg. No 1309811. which incorporated and domiciled in the UK and is a publK benefft entity. The addfess of the re9iStered office is. 3 Birdwe Walk, London SW1 H 9JJ. A Summary of the accounlirvJ pLqicies vthKh ha¥p been 4)p1￿ consr8lenty is Set OLrt bekvd. a) 8ASIS OF ACCOUNTING The accounts {financ*l stalementsl have been prepored in accordance wrth Ihe ch8rth.es SORP IFRS1021 applicable lo charities preparing th*"r aetounts in acLordan¢e with FRS102 the Financial Reporting Standard. including Update Bulletin 2, appl￿ble in the UK and Repvblic of Ireland. Ihg Companh?s Act 20(6, and the UK Generalty Aec6pled Pradica as f( appl￿5 ffom 1 January 2015. The accounts comply with a￿KébKi charty and company ENJland and Wales. The financial statements are prepared in sterfing. whth 15 Ihe fu￿11¢¥￿1 Curren￿ of the ¢tsnpany. Monetary amounts in these financial ststements are rounded to thè nearest p)und. The financial statements have been PrePa￿d on the historical cost conventv)n. modified lo incorporate the revaluat￿ of inv88tm6nts. bl GOING CONCERN The financial statements h8ve been prepar￿ on a going o)ncern basis. Tr fin8nci81 slalements do nol include any adjustments thal v￿￿10 r8surt Irom the cc¥npany nol b8ing ab￿ to continue for the next 12 months. There are no material uncertaint*s atout the companls abilty lo ¢C￿lInUe as going ccfjcern. The trustees have assessed whether the use of the gryng concem bas15 1$ 8PPfopriatè and have ￿n$￿ered possible events or condrtions that mghl cast swJnrficant doubl on the abilrty ol the entty to ccntinue as o gc4ng concern. The trustees have made Ihys assessment for perlod of al least one year from the dat6 of approval c4 the financkql statements. The trust8e8 Gon¢lude there ￿ a re88onable expectation that the Fund has *quate reSoU￿e￿ and unrtttrietéd reserveslcash balances to continue in cperatKJnal assistance for the foreseeab￿ fuiure. The Fund therefore continues lo adopt the wng concern basis in preparing rts financial stslemenls. c) FUND ACCOUNTING The finanual statements make reference to Tot￿ Fund8. These funds are unreslrkted and therefore can be drawn on w￿n required. Truslees m8y deg￿nate and set aside unrestncled funds for specfft purp08es d) FINANCIAL ASSETS The Charty has 8*18d lo aWy th8 pro￿8￿￿5 of SectpJn 11 "Bas￿ financiBI instruments. of FRS102 to all of its financkgl instruments. Financk41 assets are ￿ognIsed in thg companys ststemenl of financial position when the Charity beccrfnes party to the CCM)traciual provi$KJn$ of tho Financial assets are impai￿1 where there is c&'ectNe ewdence that, as a resuh of one or more events that owirred after the inthal rwnition of thè financAI assèt. Ihe estimated future ca8h fkxv8 have been affected. Docusign Envelope ID." 82F5F462-2FF&86CPAOA4-7A25573835C7 The Benevolent Fund of the Instituli¢)n of Mechanical Engineers Accounting Policies For the year ended 31 December 2025 Loan and receivables Lrfe4ime inleiest free loans are m* to approved benefick?TW are repayable onty from the estate of the benefiC￿ry or. in the case of joint knans, from ￿ estate of the second surviving partner. These ar9 xwjnted for at Cogt. Impairni•nt of flnanclal assots Financial assets a￿ impaired vthere there is objectiv6 evidence that. as a resuh of ona or more events that ￿Urred after the inrtid recognition cl the financial asset, the estimat8d fviure cash flows have been aff￿ted. The iMwm￿l kJs$ K* recogntsed in the statement of financk?l actNitvJs. •) FINANCIAL LIA8IUTIES Baw'c financwl liab11rt￿ are initbalty measw&Y at transactth price. unless the arrangement consti(ules a finanung transaction. vthere the debt insirumenl meagured at the prosenl valuè of the future receipts disccyjnled at 8 markèt rate of intwest. Other financial liabih'lM cL483ffiod as fair Val￿ through piofrt or1053 aro measured at fair value. f) INVE8TMeNTS Investrnenl8 are slated al fair valu8 al the sheet date. Thg statement ol Financial Acts'vrt198 Ineludé8 ￿ net gains 8rKJ los￿ on revaluobon and dhposal8 of investment fund8 thr￿JghoUt the year. gl TANGIBLE FIXED ASSETS Tan9lble a88ets WO 8taknY at ¢4)st18 caprtaltsatk￿ lknit is in place of £1,IXIOI depreciation calculated * r8189 inlanded to write off their co81 bess estwnaled WKlual value 0￿r tha peri)d of their eslinaled useful lives at th8 folbv￿n9 rate¥.' Furniture Equipment 20% per onnum on ￿btten d(Mn value 33% per annum ¢)n cosl h) EXPENffftiRe Expenditure is accounted lor on an accruals basis inclusNe of any VAT cannot be recovered. Expendrture 1$ recognised once there is legal or construclNe oblbJa1￿￿ to transfer economic beneff( lo a third party. it Is probable that a Iransfef of ￿nOrn￿ benefrts will be Ntsired in settlement and In be measurgd reliabty. Grants payable are charged in the year *hen the offer is ￿nveYed lo the recipient except in those cases ￿ere the offer LA condrtional, sl￿ grants being rec¢)3nisad as expenditure when the conditions atlaching are fulfilled. Grants offered subjacl lo conditions which have not been met al the year end are noted as a commttment, but ncé as expendilure. Support costs are 8llocat&J betr￿n the c4tegorw of expenditure dep￿Kling on their nature. Docusign Envelope ID." 82F5F462-2FF&86CPAOA4-7A25573835C7 The Benevolent Fund of the Institution of Mechanical Engineers Accounting Policies For the year ended 31 December 2025 I) INCOME Incelning resoufces are rec¢on￿ed in the per*)d in wh￿h the charity entsiled lo receipt. the amount can be measurgj reliably and likelihc(é of rewpt bs pr(*able. Bank Inter￿ 18 aGcounbJ for in the per￿ for which the charity entrtled lo reeeipl. Leg8cies are receonised when the urteria have been met." ent￿ement when probale ha$ bèen granted and the execulorl$l crf the estate have established that there are SUff￿lent assets in the èstate, after Settliro liabil￿e5 to pay *acy income.. the vdue is feliabty me8svred ar*d the likelihcb)J of receiving the *acy is kYcthbl8. JI CASH AT BANK AND IN HAND Cash at bank and in hand comprises cash in hand, demand d8POSits and cther short.lem highly IK4uid investments wrth original maturities of three months or that are leadity convertib18 to knoym wnounls of cash and subject lo an insignfficanl risk of chory$ in value. We operate an aulomatt'c sweep 8yStwm lo prevent bank overdrafts Cash 81 bank is measured at Iransaclp)n prico less any impairment whefe applic8bk. We awn to relam £1C(IK-£3WK on this basis al any one lknè. kl POST44ETIREMENT BENEFITS tharitable wnwny has a580cBle(I member slatu6 in the pension 6chthne opgral8d by tho Inslrtulion ol Mechanul Engineers wh￿h provKY8S tenefrt8 based on fin81 penswable pay. Tho assets of Ihe scheme are held separately from those of the charItab￿ company. Th8 chaiitab company 18 unable lo idantfy its 8h8re of the undertwng assets and liabilities of the scheme consislenl and reasonab￿ basis and therefore, as requirgj by FRS102, accounts for the scheme a$ rt were a defined contribution stheme. As a result. the arn￿nt charged to Slalemenl of Financial ActIv￿e8 repfesenlg the conlrbut￿nS to the sctrwie in ￿SPect of the accounting period. All new staff a￿ enrolled In the defined e0ntrbul￿ $ch￿e with contribuuons charged to the Statement of Fin8nci81 Acliwbes as incurred ie on an ￿¢rya1$ basis 11 CRITICAL ACCOUNTING ESTIMATES AND JVDGEMEpirs ln th8 ￿8W of th8 twyt8es In aPP￿ng th8 *cciJntNw polie*s *lcpted, nojudgeTnent5 required that have a signrficanl effecl on the amounts recognised in the fina￿￿1 slotements, nor do any estimates ry o¥$umptK￿$ made c•rry 8 5ignthcarrt rTJk cl material adjustment in the next flnanual year. Docusign Envelope ID." 82F5F462-2FF&86CPAOA4-7A25573835C7 The Benovolenl Fund of the Institution of Mechanical Engineers Notss to the Accounts For the year ended 31 December 2025 1 Income 2025 2024 Donations & Grfl AKJ Redawn Donations in Kln JP Dudin Bequest 399.699 438.390 1.073 400 T73 439 824 2 Invo•tm•nt In¢om• 2025 2024 Dwid•TrJs & loan 8t0& int8rnSt- UK Bank Intsrest 1.337.304 5,970 1343 274 1.299.539 1.901 1301440 3 ChArft•blo ActlvMI•• 2026 2024 Grant8 for the rnli•l of po%*ity FoundÈtion grants Allocath"on from $¥pp)rt ujsts Inotg 41 474,392 401,234 212.045 139,003 377,972 397 183 1 C64 408 400 All grants m8d8 to iThaNiduals, I￿￿￿j ye•r 411 b8nof•>arix12024.' 4291. An•F)•l• ol Gnnt• Grnni• to IMtStullon• Gr•ntsto Ind1¥1d￿ Support Co•ts Tot•1 Grants for th• ro1101 ol povèrty F￿jn44th"￿ Gr8nIg'Br￿g85 lo Prospenty F￿ndatIOn GrantS.E￿I￿l8 Fc￿ndStic￿ Grants.'Go Boyond Foundation Grants."￿Tr￿ Foundat F¢und8J¢n Grants'.Tearfund 474,392 261.214 83,478 735.8 235,082 .151.804 40.752 19.888 22,439 10.841 63,191 30,529 Totsl 212 474 77 1064 4 Support Co•t 2026 2024 Trglnln9 Vc4unt¢er8 Stsff Costs Visrb'ng berefiagr*s PUbl￿￿￿on8 PrifitirrfJ & Stabmery Postsge & telaphone Communic8tiorts & databas• Extranet for use by Vdunteer8 Accornrnodation chaf905 Attountlng & ¢￿￿￿ter Seryice Travel & subslsler Bgnk Ch￿￿e5 s￿)ScriptsOrffj to prOfes￿n81 Sundry Homeworking costs 110th Ann￿ersary Allocation from govemanc• (note 5 18,271 258.328 1.305 1.773 1.741 428 106,547 2,013 1,874 1,242 31,010 6,836 1S,$95 17,589 1,365 1.954 3.888 509 31.510 9,419 5.420 15.899 1,357 1,188 3,124 317 70 183 377 972 222 577 Docusign Envelope ID." 82F5F462-2FF&86CPAOA4-7A25573835C7 The Benevolent Fund of the Institution of MechanirAI Engineers Notes to the Accounts For the year ended 31 December 2025 5 Odwr. govemanc• costs 202$ 2024 Audlt fet Committee expenses Complkgnce costs & Insurance Legal Fees Slr8tegic Revlew 17.608 5.248 4.408 15.600 12.125 2,311 432 27 264 30 468 No payments have been made to the auditor or their asswates in ￿$FeCt of non4udrt I￿rk durlng the year. 8 staff Stsff co$is comprise... Salaries #nd other emolumen¢• So¢ial Se￿lity ¢o$t8 other ￿nsi￿ ¢osts HR and payroll $upport Training Tax on staff taxab￿ ber*llls 2025 2024 205.419 23.301 22.138 5,963 763 744 258 328 224,260 25,769 16,911 6,579 6,433 281 132 Those eaming ov¢r £fjO.OQO In the year are: 202S 2024 £60,001 to £70,000 £90,00110 £100.000 Tha lotal amounts pahl in respect of key management personnel in 2025.. £110,22812024: £105,347> and F4n8ion contribution ol these high emtyoyees vrds In 2025 £10,25712024 £9,790). The average number of persons ¢rrpby¢d by th• ¢ntty u￿r conlra¢¢s of $er¥ice WAS 3 (2024.. 41 7 TnMts• Board 2026 2024 Travel and subslstence expenses paid No. No. Number of member8 who clalmed No merrthr of the Trustee Boar(I received any remunwation in respect of services lo the Fund lor the year. 8 Flxed A%￿ts - Furnlture and Offico EqUI￿+nt Cost Al l January AddKion8 At 31 December 2025 2024 43,052 43,052 43,052 43,052 Depreciation At 1 January Amount provided At 31 December 43.052 43,052 Net Bcok Value at 31 December 2024 and 31 December 2025 Docusign Envelope ID." 82F5F462-2FF&86CPAOA4-7A25573835C7 The 8enevolent Fund of the Institution of Mechanlcal Engineers Notes to the Accounts For the year ended 31 December 2025 g Invgslments {at Mark￿ value) 2025 2024 M&G Chari Fu￿8 Accumulation Units M&G Global DNthnd FurKI Accumulation Units Fidelity Fund Share5 Cazenove Chanty Muki Asset Fund InLxme Units Charity Property Fund Inccffle Unrts CCLA COIF Charities Investment Fund Income Unts Total 11,898.623 19.097.806 5,184.613 3,364.934 1,SX13,270 663,130 42.112.376 10.141,318 17,042.283 4.489,134 3.152,356 1,878,693 696.469 AJI investrnants are listed UK S8￿rItIes. 2025 C*pltal 2024 Capltal Movements of Inve¥tmenls Market valu& at 1 January Purch88es and •ccumulats'ons Dtsposal pioceeds Net inve¥lment gainllloss) 37.4Tr),252 434.138 33,663,345 399,696 4 277 986 42,112.376 169,727 42,282,103 3 337211 37.400,252 164 171 37,564.423 Cash with In￿StrneTrt manager M8rket value at 31 DKember Histor￿ cn8ts at 31 December UnwI￿ed investmenl gwns at 31 D￿be1 20 830 845 017 120 10 Loans 2026 2024 Brought forw8rd 1st January Additions Rtpay7menls Wr¢tten off Carried foryrnrd 3181 t)ec•nbtrr 1,174,518 41,9 145,489) 1,244,068 15,541 185.0911 117451 These loans are interest free and are repayable lo the B6nevo*nl Fund from estate of the beneficiarigs Ni mue than one year. Thè totsl amount of provided unsecur&l108n8 in 2025 wa$ £82,011, of wh￿h £3.CC() vra$ a nv4V unseKured loan. 12024.. £86,752 and £8.3411. 11 Anatysls of Changm In Cuh 2025 Cash flow 2024 Cash at bank and in hand Cash wrth investment managef- $99 note 9 710,976 299,526 411,450 184,171 169,727 5.555 880 702 12 D•btor¥ 2025 2024 Amounts dLre frcrfn the Institution of MechaniL¥I Engine8 other tjebl Loans 187,663 147,165 1,171,025 1.505,853 1*,696 229,024 1.174,518 1,600,239 31 Docusign Envelope ID." 82F5F462-2FF&86CPAOA4-7A25573835C7 The Benevolent Fund of the Institution of Mechanical Engineers Notes to the Accounts For the year ended 31 December 2025 13 Creditorn 3025 AmoLmts due to Ihe InstitL￿On of IAe¢harN¢al ErvdY*ers Audit fee Accruals 276.281 17,608 3C(J.902 15.800 14 Anatysls of Funds at 311)gcgmb•r 2025 l January 2025 Incom• Expendlture G•in• I 31 2025 Unmtrlcted D88i9nalod 8,lx￿.c 8.OCO,CW)O Unreslncted Funds 31,252,B68 1,744,047 (1.072,2501 4.277.986 36,2tr2,651 Total fundg Tht d&$trJn8t•d fvnd w88 agr88d by Trustees olurir9 2020, in wder to oper•uwl •￿ndttur6 'ln pgrpetuw and they set Ihi¥ at £8.th)O.¢XQ. AccordlrvJly, the hjnds are hokj to ersswe fvlurn n8•ds can be met. 8spodally 11 thefe r& on un¢xpèet•d LIr￿4eaIè •¥•nt r•quirirKJ athjibonal ro8ourc*8 to ov*d￿ ?.g. ¥ wgnific4ni doMthim ii a Sector ofth& meL*anul er4imerirrfd Indugty 81 o ftthr• dats. 15 Flnan¢l•l Commltsnwrt• The Trustse Board has gl%tn