REiJfERS CENTENARY FUND Report and Fh)andal Statements Endéd 31 D¢¢•nber 2024 Chwiiy Nwnber 219404 REUTERS CENTENARY FUND CONTENTS Paggls) ReF¥)rt ol the Tr￿%190 Ind8pendent Auditrys. Rewi Statement of FlnarKial A(￿ville$ BalwKe Sheet 10 Notes to the Fvi¥Ki￿ Statem•J 11-15 REUTERS CENTENARY FUND REPORT OF THE TRUST THE YEAR ENDED 31 DE EMBER20 The Trustee r*8serts its rep(Kt ah)ry writh Ihe 8udit•d fina￿la1 slatements of Reutern Centenary Fund (Ihe Charlty'l the year ondgd 31 Decerthr 2024. The Trustge has prepared the rewrt a)d rinancial stat8monts in xcc*dance with PaoLrting aTrJ Reporting by Charibes: Slat8m8nt of Recommended Practice a[￿ICabl￿ lo rawit*s prying thow xcounts in accordance with the Financial R9wting Standard appkth ￿ the UK and Repubk of Ireland {FRS 102. effgctive 1 January 20201. OBJECTIVES AND ACTIVITIES The objective of the Ch* 15 to as5iSt nece5sikn persons we. cr have been. in the seNice of Reuters Limited or any of its 5ubsbSariES arwj the ¢*ndants of such persons. Grants are awarded at the disryetion cl lthe Trustee llhe ConNnittee'l and vary in size depending on beneficiarie$' circumstances and invesknent perfomwrKe. Consequendy. tho ThJmber of grants awarded may Ilu¢tuale between ygars. The Crynmittee that Ihe Charity's activities and objecttves are align8d through regular meetings where deci5bTh regariling grant alOCati￿ are mad8 by maj¢xity ACHIEVEMENTS AND PERFORMANCE During the year. the Charfty awarded thirteen grants tolalling £38.172 to lh￿een Indlwduals (2023: seventeen grants tOtsI￿n9 £114.589 to seventeen indNhJuals). In 2024, the Charfty ￿ded financial swjwl lo benef￿an&S for Ihe sethment of variLW8 medlcal costs1£17,5751 and provKled ffinan￿al supp￿1 to famitses experiendng fmandal hardshlp (£20,596). The Trusl8e consider that Ihese **ivitss are to Ihe tonefrt issued by th8 Charity Commission as referred to In secllon 17 of tho Clwitles Ad 2011. FINANCIAL REVIEW The Charivs work Is rellant on relums from furth inve81ed kn the Resp)nSIb￿ MuAI.Ass8t fund IRWI. At 31 Decembw 2024, the Ma￿et value of the Charity's Investment RMAF was £2,564.411 (2023.. £2.471,337) divbjends of £104.587 (2023: £89,108) were received du￿ng the y&ar. A gain of £93,075 (2023: £74.122) was r8cognised crf) the increasè ￿ thè m8rkgt valu? of the investment d￿ng the yu. Reserves It is the policy of the Charity to maintsin Unr9Strk￿ funds. are thè free r￿DIeS of the Ch8rtty. The Charity's reserves pothcy stems frThn the wwestrnent ￿11￿￿. whKh seeks to m￿Mise incom8 while proteding capital Wa￿. The Trustee Th¥)nbtor investment perfCffrnan￿ and adapt the level of charitablo a¢￿￿￿e5 accordingty S￿h that the Charitys b818nce of reserves should be steady over timg. Al 31 Decen*w 2024. the Ch* heWJ reserves of £2.777.332 (￿23. £2,611,225). Investmenl owers and li Reuters Centenary Furbj Limtsj acts as Tlustee of Reuters Centenary FuTrJ arKI as such purtha5es. 8e115 and holds nvestsnenls on beh*f of the Chty ￿ line with the ch￿ty'S overall invgstment strategy of maxirritsww whle c4ilal ¥8￿8. SthroJgr & Co. Llmrted is retsined 0$ the ftmd manager5. FWVi(kng wartety writton reFKrfts to the Trustee on th8 investment [￿lOrm￿ and meets with the Trustee on an annual basis to r8vi8w tho investments. As al 31 December 2024. the Onl￿ of ￿ Ch8n￿$ ¥ivestrnenls was hgld In RMAF, wlM)se staled inv8slm8nt obj8ciive is to al leasl maintsin Ihe real ¥￿u0 of caFital over th& long 18mi ￿lIst generatir￿ a suthnabie and reliat4e di5knbuti¢)n thrThW investment in colle¢tive investrnent schemes REUTERS CENTENARY FUND REPORT OF TH TRusfEE FOR TrIE YEAR NDED 31 D CEMBER 20 continu8d Investment wers and licies as well as dirgctty held transferable sgwilios. tJerNakn. c8sh. deposits and money mark instruments. The fund is deswaled to wovrde a bal8nf* of risk relum fr¢¥n broad diversification. RMAF adopts a tolal rebjm approach and aims lo distr￿Ute 4% p.a. The a¢￿al dislribution for the ygar el￿9￿ 31 Decemtw 2024 TK4$ 8.1%12023: 6.WA). The Tnjstee consider that RMAF'S and the chari￿5 ct4ectives we and are of Ihe v*w that the fund remains a suitable invesimenl the Ch*ty. In During year 2020. 1￿% inveslment in the Chwity MuttkAsset Fu￿j (CMAFI was svAtchgd to Responsible Mulkn.As8et Fund la sistw fijnd I0￿s& on ethic￿ WNeslmenll IRMAFI. WIDENING OF 8ENEFICIARY CLASS Trustee has receNed a final Stsne ¢)n 18 Febnw 2025. frcxn the Charity Commt5sion to wkl the beneficiary class of the Charity Ihe acquith of Reuters GrL￿p PLC by The TtrK*msCffl Corporation in 2CiI8. The Trustee also ￿n￿nUe to aw*d fft li lirn 7*lh Ihe polws ofthe C*arlty. STRUCTURE. GOVERNANCE AND IA4NAGEMENT Reulers Centenwy Fund was created as a chitb￿ fuThJ by a Trusl Deed betM4een Reuters Llmlled and Rethers cant￿*Y Fund Limi18d in 1951. the R¢utWS' C4nt8nary. is a registered charity with reG¥stered charity number219404. The Truslg& ￿$titUte a bcrtty as the Conmnittge. whith 1$ the main f(Kum for dgdsi0n4n￿￿Y and allocation of grants. The Committee has a rrAximum of 12 members and is made up of representatives of the emFloyees (past and wesent) and managemenl crf Thomson Reuters Groups. Financial & Risk division corpc¥ate orkn. Tr Conynittee is free to regulate its proceedings as it see8 fit but is r6Nuired to meet a minimum of two till￿ per calerKlar year. although in praclice it meets around ftxy tlmes per year. Matters wislng at meetkngs are dedded by malorlty vote. The Committee *0 operates a Yas14rack" Fwcethjre. to make ￿ergen￿ decisio￿ on grant all0￿110nS arising beiween meetirvJ5. Using e-mal to cwcuLite det* aTrJ to vote on the request. ointment ol Trustges In accordaKe with the Artlcles, the direclors are reSP￿1b$e fix Ihe management of Iho Company's res￿￿9$. The diTert￿ all together will constitute the Committee. The number of members of the Committee shall be 12. The rnembership ol the Committee (and thereft)re the membeTship of the Company) Should, as as possib￿, relbecl the geogrwlmcal make-up of Thomson Reuters Group. For thls wrpose, the 12 members of the Commmtee ghall cons19t of al least three representstives of the HUrn￿ Resources *arbnent of Th(ynsc￿ Reuters Group. and at bast one ropresentative of the Editorial department. This ProMYsion dogs not pr8cILwJo a M￿muM of four Tedred Thomson ReuteT8 Group staff from ￿r￿j methts. Riskm na The Trustee h88 intrO￿¢￿d a ftym81 r*k man•Jern￿t pr￿$ to assess busSnes$ rl$ks and m ￿ement risk mwa9ement $tr*fjgies. Thu8 wwolves idenbfying the types of risks the fvnd faces, prforibslng them ￿ temis of potenti* impact and IKkelhood of oCCu￿r￿ identifylng means ¢ miligatiThJ the risks. The Tnjstee have delenrrined that Ihe principal risk5 affecting the Charity relate to investrnent performance. wlM"c* is the key determinant of the IBvel of fvnds available for use in charitable acb"vities and 15 pivotsl in the ¥thiev8menl of tr* CtrArlty's ot¥'ectives. Thls ri9k1g mltigalèd Ilvough the broad wrtfolio of assets heltj by the fund in whKh the Charity invests. REUTERS CENTENARY FUND OF THE TRUSTEE FOR THE YEAR ENDED 31 DECEMBER 2024 ontin STRUCTURE GOVERNANCE AND N4ANAGEMENT As part of Ihe Charity's risk M￿agement pruce5s. the Trustee ha5 revithvod tho adequacy of thè furHI's current int8mal cOntr￿S. Tho Trustee is pleased to rerxwt ihat tho fund's inlttnal controls. in particular. c(￿lOrM to gu*Jdines issued by the Charity CrynMi5si￿. Regul¥ revlews we carried out. Ih the latest review presented to the TNstee and ratified in September 2021. REFERENCE AND ADMINISTRATIVE DETAILS FOR THE C&IARiTY, TRUSTEE AND AOVISORS Reutefs centen￿ Limited (C￿nY registrat￿ number 499854) 18 and remained throughout whole year to 31 December 2024. Ihe scde trustee of the Reuters Certenary Fut7d. Under the Reuters Centenary Fund Trust Deed. th8 ptrwer of app(¥nting new trustees is vested in Reulers Limhe(l. The Truste8 Oxing th• yearended 31 Decemb8r 2024 ware 0$ folkjws: R A2am T Arlott R Baum N Papakyprianou (resigned 1 Novembgr 2024) K Stafftjfd J Wèir S Crang IEdnvJnds1 R Davidson A Assar P Garibian J Oafvlay {￿gned 15 Au￿St 20251 A Richler N Amef (appohrted 10 0th 2024) Princi R 8aum l officers 8 Boaleng (resigned 20 August 2025) Prlnd al offi Five Canada Sware Canary Wharf London England E14 5Aa United Kingdom Inde ndent Auditors Prieewalerhou5eCts)pers LLP 1 EMbaNkM￿t Place London WC2N 8RH Investment mana ers Schroder & Co. Llmlted 12 Mcrf)rg8te L¢)ndon EC2R fjDA REUTERS CENTENARY FUND T OF THE TRUSTEE FOR ThE YEAR ENDEO 31 DECEM8ER 2024 Contlnugd REFERENCE ANO ADMINISTrATIVE DETAILS FOR THE CHARITY TRUSTEE AN continued ADVISORS Bankers Citibank Crtigrcwp Centre 2 25 Canada Swa Canary Wharf London E14 5L8 STATEMENT OF TRUSTEE'S RESPChYSIB L￿lEs The trustoe is Te5PCm5ible fi¥ wepariThJ ￿ Report of the Trust88 and the financial statements in accordan¢e wih 8pplicable law and United Acc4MltiwJ Stsr¥Jgrds (U￿ted KlrvJdom Generalty Accepted A￿o￿nting Praclice). The law ¥I￿￿ble to Char￿eS ￿ ErylarKI arHI W*s rwwwes tnJste& to prepare flnanrAal $latements for eoth finanGi81 yqar whth gve a true and fair vivw of Ihe state of affairs of charfty and ol the Incoming resowces *¥J appucation of restyjrces ofthe dwrty fot that In prep¥ing these financial st*ments. ts Trysleo Is wireil lo: 5dect Suitati￿ acojurthg polira8s and then appty them c￿¥181enty. observe Ihe melhods and princvjes in the Charities SORP: make judgments 8nd esl¥nates that we reasonabbg and prudeTrL Slate whether appFScable occounllng standwds. (￿lp￿Sing FRS 102. have been followed, Subl￿t to any material deparbjres disdosed * explair￿d In the financial Statement5: and prepare the financial staiements ￿ the go1￿ c(rfKern basis wless 11 Is Inappropriate to esurr* that the Charity will wi twine88. ThB trust8e is responsit4e for keeFing woper ar£ountng recor(Is Ilwt di8ck)se wlth reasonable accuracy at any tirM the fin￿claI positlon of the ch*ity and enable them lo ensure that the fknanckql stslements comply with the Charfties Act 2011. the Chanty (A(xounl3 and Reports) Regulation$ 2008 and the provision$ of th¢ tn* degd. They also rèsF4)nsit4e for safeguarding the assets of the charity and hence for taki￿ reasonabl8 Steps for the preventK)n and detedion of fraud and other Irregularltles. Thè trustee 1$ re$pon$ible maintononce and irtswty ￿ the tharity and finanual inlormati induded on th8 thariVs website. LegslotiM in th8 Uniled K*)gdom oo¥eming the prepara￿on aTrJ dissemlnation of finan¢ial statern•ts may i*ffer fr(Mn kgvslation in OIherN￿sdlction5 Inde nt It is the intsntjon ol the Tmstee to reakwoknt Thi¢ewatertthseCoows LLP as audRors for the current financial year. Provision of other infDTmation to auditors In so far as the Tnjslee is aware. there is M welevant audit rtxmall￿ of vthkh Ihe Charitys auditors are unaware. REUTERS CENTENARY FUND REPORT OF THE TRUSTEE FOR THE YEAR ENDEO 31 DECEMBER 2024 Continu The TnJ8lee has laken all the Step5 that ought *) have been taken as a Tw8lee in order to be awwe ol any re￿vant aLpait ￿tormatiOn and to e5ta)lish Ihat the audilorB are awar• of that informatr￿. On beh￿1 of the Trustee 14TE•I851IE4K• Date 30 Setrtember 2025 REUTERS CENTENARY FUND Independent auditors, report to the trustee ofReuters Centenary Report on the audit of the financial statements Opinion In our opinion. Reulers Centethary Fund's finaM#alstalements {the"financial &atements"): gi%E a true3]￿ fair li￿1. of the51ate rfthecharity'saffairsas at 31 D&Tmb¢r2024 and of its in￿MIng Ye￿urceS and applieaiitin ofresources, for the)￿r eThJed. hai'e beeii pmperl). prepated in attotdatKe i￿th United Kingdom Genernll)'AcLEwed AceountiTLg Practice (United Kingdoni AccountingStandanLs.comprisin8 FBS 102 Tr Finat)¢ial Rep)rtib)8Siandard appl￿ble in the UK and Republicof Ireland", and applicable lam.). and hai'e been prepared in accordantt i%itkL ihe r￿uIrements0f the L￿anI￿ACt 2011 and Regulation 8 of The Charilies (Accounts and ReFK)rts) Regulations 2008). We haiE audited the financial ststements. ir￿Illded iiithiD Ihe ReEM)rt and financial Statements (the -Annual Rep)rt"I, il'h￿h comprise: Ihebalanceshed as at 31 DeCem￿r?024. Ihestatemenlof financial aettiitie5 fortht }E2rthen ended. the accollnting wAities". and the notes to the financial 51atements. ii'tlich include a ¢kscriplion of thesigDifi¢ant a￿￿)UntIng p)lieie& B&qis for opinion Weeondueted our iudit in aL*ordanLt iiith Inlernational Standardson Auditin8 (UK) ("ISAs (UK)l and applieablt Idi%'. Our responsibilities UTvler ISA% (UK) are (urtherd￿ribeJ in theAuditors' responsibilities for ihÈAudit of the finaneial slatements stttion ofour re￿rI. we￿11￿￿ ihat thea￿all th.￿nce haiEobtaina4 issuffKienl and appropriaie io Pr￿￿de a basis fvour opinK)n. Independence We remained independenl ofihe charits. in 2cCnrda￿e Mith the ethitral wukremenls that tEknint toouravdit of the financial ststements in the UK. ii'hith indudes ihe FRC'S EthieAI Slandard and iiE haiE fvlfilknl ourotherethical resw>nSLbililie5 in accordan￿ ilith ihese requirements. Condusions relating to going concern Based on the i%orK lie haie perfornied. haiE not Identif￿ anj. material ynLvtainties Telating io thtntsoreortditions that, indiiidllall}' orc011￿111y1)'. ma). casi significant dou￿ on ihe eharitj-s abilit). to eontinuEa5 a goiTLgconttrn for a twiod of at least hirhE l)lOllths from thedate on iithich the finaKialstatsn)entsaTraulhoriwJ fOr1￿lle. In auditingthe fina￿la1 ￿atementS, lye haie LY)T￿lUd￿ Ihat thetru5tee's use of the y)iDgcornYrn basis ofacU￿n11nS in the prepara¢¥)n of the financial statements isappTopriate. H￿*v￿rr, bffause not all future OEnts orcondilionscan be predK*LYI. this condusyJD isnot a 8uarantee as to thechari￿"s abililj. to continuea5 a goingcoiittrn. Our restx)nsibilities and the responsTri Jilitiesof ihe ITh￿tee iiiih res￿1 togoingLYl￿trnaYe desenW in the fElts3nt seL*ionsof this ￿[*￿t. Reporting on other inforniation The other information LY)mpri5e5 all of the inforn]abJn in the Rew)rt￿￿er ihan ihe financial s¢atementsand ourauditors. IMTrrt ther¢on. The tnLStee ￿ Tesponsible for the (rther informat*)n. ￿rOpinIon on the finat)eial statementSd¢￿S not ￿￿Er theother information and. accon4ingl}'. iirdonot exp￿?￿ a￿111 Opin￿nOr any forn) of assurdll￿ thereon. In eonDection iiith ouraudit of the finartcial ststemenl* our wnsibilitv is to read iheother informalion and, ITh doing so. considerii,hether Ihe other inforrnat￿n is rnateriall). inc￿nSIste￿I iiiih the financial statements or our L￿￿%.1￿Se obtained in the audit. or otheniise ap￿arS lobe materially mi&ststed. If lit identify. an apparent material inconsisienej. or niaterial misstalement. iiEare requird to ￿rfOrnI prrttdures tocOr￿l￿de%}￿elher thete is a malerial misststement of the flnaneial statements ora material misstatemeni of ihe other iDfom)ation. 1f.baxd on the iiwk" hai'e ￿rftsrMed. li'e conclude that the￿ is a nuterial misstatement of this (rtherlnfOrn￿tIO￿.I%*are requi￿d to thai fad. We hait nothins to reporl based on these responsibilities. Based on our iYOTk undertaken in thecourseof thea￿lit. the (kriliesAcl 2011 wuirtsusaiso io report ￿rtain opinions and matters asde5criikYl ￿k)ll. REUTERS CENTENARY FVND Report ofthe Twtee Under the Charities Act 2011 iiEare requI￿a to re￿rt to)"ou if, in ￿roPIn￿￿ ihe inforn]ation 8ÉIEn in Ihe Reptsrt of the Truslee is ineonsisieni in anj. material res￿ iiiih the financial Statemen￿ We haie eX￿ptIo￿5 to retK>rt arising from this ￿SponSIbl1]t5.. Re8ponsliMlities fr•r the financial st￿ten￿ttts and the audit Responsibilities of the TFVSteefor thefinancial statements A5explained more fulls. LIJ the Slalemenl of Thistee's RestA)n&biliiies ihe irn￿ee 15 rwnsible for ihe preparalion of the financial statements in accordantt Iiith the applicable framei%Drk and for being 5ati5fied that thes. gli? a trueand fair iiei¥. The truslee is also restKptLsible lor Shlch internal cnntrolas the)"deterNskne 15 ￿&saI) toenable Ihe p]rparation of financial statements ihal are (￿e friAn nwlerial misstaten￿llt, 1¥1￿herdue lo fraud orerror. In preparing ihe financial statements. the tnLStee is wnsible forassessing ihe charity s abilit5.to continlle as a going concern. dI￿l￿nga$ applicable. malte￿ re]ated logoingeonLtrn and usin8the goinscontern basis of acixjunling unless the trusttt is either intend to Iw4UMlate the charityort0￿se 0￿ra110[￿. orhait Th) ￿listIC alternatiit but to do￿). Auditors, responsibilitiesfor the ouditof thefinmieiolstotements Weare eligible toact aTKI haiE i*en appointed asaudilors uThJersection 144 of the Ch8ritiesAct 2011 and report irl awjidancciiiih the Aet and rekngnt regulation5 rnade orhaiin8 effttt thereunder. Ourobieetii*s are toobtain reasonab]e aSSUrar￿ aFA)Ut ii'hether the finaticial 5tatemeThtsas a i%'kle are free from material misslaternent. lithetherdue to fraud orern)r. and to issuean atsditors. repxt thai itlcludes ouropinion. Reasonable assu13D￿ is a hish IOEI of a&suratJtt. l)ut is not a guaranlee that an audit o)Nlueied aceordantt ilith ISAS {UKI iiill ali%?J% detect a material Mi￿lateMent iihen it e¥isls Misslatemenis arise from fraud orerror and arecoThsideted material if. indiiidually or in the ag8)Y8ate. the). couhl msonabb.be expected to influence theeconomi¢decisionsof users taken on ihe basisof these financial statement& Irregularities, including fraud. irn8iaNces of iiith lai%E and regulatiors. Mre design p￿ureS in line iiiih our resrAJnsibilities. outlined aFtht, todeteet material tnisstaiemenls in reSFeCtof irregularities. including fra¢Jd. The extent loil'h￿h our prnxedures a￿Capable0f deteding irregularities. includinsfraud. ￿ detsiled beloii. Based on our unde￿landing of Ihe charit)., IE identified ihat the principal Tisksof non-complianct iiiih laiis and regulations related to the Charities Acl 2011 aTKI TEknanl regU]atmM￿ madeor hairyngan effect thereunder. including the Charilies (Actountsand Reports) Regulations 2008. and considered the extent lo iihith non-complianL* rnight haiE a maierial cffcet on the financial stalements. We ￿21￿ated the irttnttirs and opwkrtllnitie5 forfraudulent manipulation of the financial Siarements lineluding the risk. of mtrride ofeontroLsl ￿. the trnstee th[￿ ￿SpONSIble for, or ini'oli'ed in. the preparation of the financial 5tatemeTht4 and deterniined that the princhpal ti5ks iltre rrlated to the ￿ting0f inappropriate journals to manipulate the financial AalemeThls and Ihe ivppn)priate rrfwition ofgrand expeThditur Audit P￿￿EdureS perfOrn￿d included: Identifyin%and testhn%N)urna1entrn51￿th a h￿Khlen￿l focusonioyrnal eniriesi¥ith unusual aLwunl tombinations: ObtaiThins iThdependeDt Confirmath)￿ for Ihe i7luatKbn of iniE51tnentsand ¢xsh al Jtarend. Inquir). of nunagen)ent. ineludingconsideratK>n of knomm or$us￿ed instamw Ofn0n￿(￿TrpI1ar￿1llth la1￿ and regulalionsand fraud. ReadinK rneEtinK minutE5 and wnlTacts" and. e&singfinancial Statementdth￿S aThl iesting tosUp￿￿￿tI￿gd0￿MentaIlO￿. for cornplianee ilith appI￿able laiisaDd resulations. There are inherent liniitstK)ns in the audit prO￿dureS d￿ribed at￿￿. We are le55 likeb" lo becomeaiiareof InSlan￿ of non-cornplian￿ iiith13%is and re8ulations that are llo¢ ¢1[￿￿￿- ￿laled lo and trdtlsactio￿£ reflecied in the finaneial stalemenls. A]so. the r￿￿. of detecting a malerial mi85tatement due lo fraud is higherthan the risk (Inot derertingone resuliing from error. as fralld rna)- inidiEdeliiErale LXb¥KYdltnent bi., for example. forgery. or intenlional niisrepresentstioLs, orthr￿￿ collus￿. A further deseripiw)n of our reswnsibilities for the audit of the financial stalen￿nIS is ID(Stal on the FRC'S iyebsite aL iii%ii'.Ire.or&uklauditorsreswnsibilities.This de5CriPtK>n forms part of ￿ra￿dIt0￿.re￿rt. Use of this report This rep)rt including theopinio￿￿ ha5 been prepared forand onl>. for thed￿rit) $ Irustee as a b(NJ} in alr0rdan￿ i%ilh seerion 144 of Ihe Charities Acl 2011 and re8ulation5 made undersectim 154 of iht Acl (Part 4 of TheCharitie5 (Accounts and Rew)rts) Regulations 20081 and for noother purtKEe. We do in giiingthese opinK)ns. accept or assume re5wn5ibilit)' foran). other purwseorto anj. other tOM4w this isshLMIL or into Mhose honds it ma>. come saiE Il'hereexpre￿lj, a8reed bj our prior coThsenl in ii'riiing. REUTERS CENTENNAY FUND Other required reporting Charities Act 2011 exceptlon rep)rting U￿jerIhe Charities Act 2011 IIE are reqUI￿d to rewrt lo }vJ if. in ouropinK)n: hail receiiEd all ihe infonnalion and e¥plan81￿￿$ requite forour8udit' or suff￿1ent attountin8 recorth haie noi been Lept b)" thecharit)". or the financial statements are ￿ in agreen￿l hith ihe a(tounIingre￿Kd& We hait no exeepiions io rep)rt arising from this resp￿sibilIt).. Prini'aterhouseCoor*rs LLP Chartered Accountants and SlaluloryAlldilors ndon 30 September 2025 REUTERS CENTENARY FUND ATEMENT OF FINANCIAL ACMVITIES FOR THE YEAR ENDED 1 DECEMBER 2024 UI* Valuation c4 invesbnents Reuters Cenlenwy Fund hokls no other fixed a$sets ¢Xher than tts of UK Inv¥strnents. Investments are w￿￿8(1 the bas￿ of the rna￿et cc¥Nention *there they are Primarily traded which is either last traded or mmldlg mwket fv$. Whore representalive prices are unavailable. investments are valued on the most apprcyiale basls kn the of S¢hrod8r & Co. Umhed. GIfts4n-￿nd Donated services aNJ fadlitles are valued and wKkKled as irwxme eypenditwe al the price tho Charity estwnates it would pay in Ihe (wi markat kjr ￿ 8ryiva￿ sor¥￿& crf f8dllty. Cash Flow Slatgment Reuters Centenary Fund has takan advantage of exemption for gmdlw charitieg from th¢ rèquirement of prc*lu¢ing cash fkw Stat￿nt deffied by FRS 102 as hKome Is ￿$5 than £51K*. Ovathaad a￿1 support costs have been allcKated between Ch&Itab￿ actsvit￿$ (grant giving apwintmwt and ￿ wi k￿j salarlesl based oft slaff time and pvern￿Ce. The althrytion is analysed in note 5. 11 REUTERS CENTENARY FUNO NOTES TO THE FINMCIAL STATEMENTS ounlin Polhx$ COntin￿d Resources Expended Èxpendituro on Charitable acti￿11•5 )jn￿lS8$ Iho80 costs inomrad by th8 Charity ui the delivery of tts aGtNlties and servtces for Its benefKiarw. Tlw costs tsKknle Costs related to the Statut￿ audit and legal lees, I(￿ether wilh 5UPPOrt costs. Management costs are not disckthd separatety on the Statement of Fnanc4al Adivities. a¥ these are luded In the priclng of the lund. It includos bolh ltr•t can b8 alhxatyd to s￿h and th088 ￿t$ of an indirect nature necessary to support them. Foreign Exch￿9? Entries ar¥ postfjd at the rate In Ihe tfawackn date. pK¢n￿lS are posted at the excharoe rate in lo￿ on 31 Oecwnber 2024. Taxaknon Reuters Centenary Fund is a registered dwty and. ac¢tydingty, 1$ not liable to lax on its Gharitable inwne or any reallsed charye&)1g gains *l1gn for ch*Ita)￿ pww)ses. Going Concern The Trustee hava conc*Jded that Reulas centen￿ contwiue as a gcing eoncem. as the level of grant-makkng is at the dls¢rel(m of lh6 Trustee and Is based Ihe fftjnds available while opgraling costs are mininwl aNJ 8re pr¢dominartty pro bowjo. Signfficant estimates Managem￿1 Is required to m*e e51imales assurryjticw thal affect the repNted amounts of a$5ets. liabil￿¢$, inwne and exFWSeS. These est*nate$ and assumptil￿$ are basgd ￿ Iwslorical informatKn and other which mwm8nt r￿Sider reasonable. The aCc￿jnts affe¢tsd by this is revenue re￿nItiOn. Gllts kn kknd IGKI gre re¢w￿ed ba¥ed on vabJatKTh pwoNided by dcmors managem8nl's judgement on whether the Charity woukl pay tho aquival8nt omount in the L¥Jen market for an atternalive that wouhj provide a benefft to Ihe Chwity equivabent to the donated facwties, goods aNJ seryi 2024 2023 Jdil Fee Employee c*)st of Ilme: Flnance Socretadat Totsl Grfts in Klnd 18.0 18.C 1.146 8,758 2.230 28.910 The audit ol the Charws financial slatements Yds provided by Pricewalerhousocoopars LLP. These seNKès are pa•J fcf ty Thcrfn50n Reuters Group as o Gfft in K￿d. Employees from Ihe FThn¢e and SecTthi* we wovxled free of charg8 by Thomson Rgulers Group. No valuallon * made to recwk8e oTre space as this 1$ not considèred lo bg material. 12 REUTERS CENTENARY FUND NOTES TO THE FINANCINL STATEMENTS cffltinugd Investm8nts 2024 2023 DbvKlends'. RMAF 104.587 104.587 89.108 B9.108 Other Inc¢yne 2￿24 2023 Inleresl income 6.TT9 6.779 1.539 1,539 Charitable Activitses During 2024. thirleen grants wve made to Ihirteen W￿l¥IdUaL8 (2073". seventw ￿ants to $eventggn individuals). The total value olthese grants wnounted to £38.17212023.. £114.5891. fundad Sw Sclivty Totsl 21r24 2024 Grant Givirwj 38.172 28.067 66.239 38.172 28,1￿7 66.239 f￿ad Supwt atbvty 2023 2023 Grant Gmng 114,589 29226 143,815 114.589 29.226 143,815 Su ort costs The Charity does employ any $laff12023: nill. Thomson Reuters l>oup bears certain expenses including the services of staff to the vahje crf £9.90412023.' £10.9101 free of charge. The employee servKes provided are listed in note 2. 13 REUTERS CENTENARY FUND NOTES TO THE FINANCIAL STATEMENTS 2024 2023 Bank charges 163 316 Finance Salwies Audit feè Secrgtsriot Salorns 1.146 18.0fy) 8.758 28.067 2.230 18,Cth Total stat￿nent ofTwstee's romunwali The Twstee did not receive any remuneraticffl for Servi￿ durfry thg year 12023: £nll). No reimbursement ol expenses vras made to the Trustee (20ZJ: Qwl). As at 31 December 2￿24, the p￿tt010 was invested as 1C(J%12023". RMAF) Responsfiblg Mulll-Assel Fund (RWI. The RMAF Is a kwy-lerm investrnent fund with a dNersrfied strategy investing in equit￿$. b)nds. propgty and oNem¥live a58ets. It operate5 *lthin defined asset allocath)n parameters. At present the Fund alocation i8 as k4lows: 2024 Tactkal R•nge R•sponslbl• MulU4•Mt Fund Global Ewlll88 BoNI$ MuKi-A$8et Fund temalves (qh) 74.4 74 10.5 12 12.3 2023 Thctlcal R•hge (Va) 69.1 11.7 sht4Yc Asmt R•sponslbh MultI￿*zet FurMI Global Equlli8s Bonds Muf(i-Agsel Fmds 12 14 14.8 4.5 C83h 14 REUTERS CENTENARY FUND NOTES T THEF NANCIAL STATEMENTS stmwts ¢￿tinUed Thé valuation of inv6stments hehj in the UK al 31 December ciMnp¥ise.' 2024 2023 INVESTMENTS Markel value at thse d preNmM￿ year Additions Net Investment gail Market * ¢k)¥e of current year 1471.337 2,097.215 300.000 74.122 2471.337 93.075 Inveslmonls at market vaue c(ryT￿ed. RMAF 2.564.412 2.564.412 2.471.337 2.471.337 Management costs of £6.21812023: £6.3191 are ￿IKted In gain ￿ nvestmont assets and arg not disclosed Separately on the Statement crf FwwKaal ktwrtses as these are I￿ud￿j in th• pr￿an9 of th• fund. Reuters Cwtenary fuNJ h*1 knvesled knto CMAF (managed by Cazenove cwall C￿ 24 May 2011. th a b￿k £1.450,953. Fc41owed by lththw investment of £11>J,000 ￿ 14 Octthr 2011 and a further purchase of £50.OLNJ on 28 Septsmber 2012. I￿9r011 inv8slmwrt mode In cazen0￿ capital by Reute￿ Centenary FLmd a￿￿￿ntIng to £1.6￿.953. Durlng the year 2020. 100% iweslment in the Chty MuttpAsset FuThJ (CMAF) was switched lo Responsible Muttl-A5set FuTrxl (a slster fund ￿lm￿llY focussed eff￿¢81 Inveslment} IRMAF). During the year 2023. Reuters Centenary fund made an addtixffjal investrnenl of £300,000 to the furKI. 31 Gakn on 0￿ember 2024 UnrestriGted 2.611.224 139271 2.611.224 139.271 6.239 66.239 93.075 2.777 332 93.075 2.777,332 31 Gain tknmber Unrestrictod 2 561360 119 557 143 814 Total 2.561.360 119.557 143.814 74 122 2611225 74.122 2.611225 10. Related Pa Thomson Reuters Group provides sionifThnt S￿pOrt to the Fund and 811 Ihg TrLLglee arg current or fomer employee$ of the Reuters arKI Th