amreF health africa Trustees, Annual Report and Financial Statements For the year ended 31st December 2025 Arnref Health Afrlca Charity Number: 261488 Company Number. 00982544 Amref Health Africa UK Contents Who Wekn.-.-.--.-.--..-.--. C*Jr StrAtole Feats& OII•cbkn&_- FinarKial R8Vi8W..-..--.--.-.-.----- .27 Audti Report...-.-.--....--. ..33 ealance SheeL.-.-.-.-.-.-.-.-.-- Statsrnent of C••h RO￿..-.--.-.--.---.------- AnaW8 of I￿8n1￿ In N•t 08tL..---..--.--.- -35 ACCOUn￿nI Pe4kl•8..-.-.-.-.-.-.-.-.-.--.--- -.Al Amref Health Africa UK Reference and Administrative Details Patron: HM The KinB President. The Duke ofRichmond Board of Trustees: Chalr.. Mr Paul Davev Tre*sur*r'. Msjill Anderson Tru5tee5'. DrTinashe Chandauk Msjennifer Chlmèn8a Ms Beverleyjewell Ms 8ridie Layden Dr Sally Nichola5 Mr Andrew Tuttle Ms Navits Yad3v Intsrnal Key Management Pernonnel: Chltl ExttutlvÈ'. Ms Camilla Knox-Peebles Dlrertpr of FurbdraI￿n8'. Mr Matt Wenham Head of Pro8rammes and strate8lt Partmershlpk Dr kneesèAhmed He•d olFlnarKe. Operallons & People: Ms Hden 8l•ke CoM￿n¥ Setretsry.. Ms Helen Blake Charity Number. 261488 Company Number. (K>982544 Amref Health Africa UK ReFJstered Offlce Canopi 82 T3nner Street London SEI 3GN Banke C Hoare & Co 37 Fleet Street Lendon EC4P 4tKI Bardays Bank 7th Floor. Unbted Kin8d•m House 180 Oxford Street London WID IEA CCLA Senator House 85 Queen Vlctorla Street London EC4V 4ET Aud￿0T5 huzzacott Authl LLP. Chartered I*(￿nI•￿ts 130 Wood street London EC2V 6DL Amref Health Africa UK Trustees, Annual Report forthe year ended 31st December2025 The Trustees. who are the Directors for the purposes of company law. present their statutory report together with the financial statements of Amref Health Africa for the year ended 31 December 2025. This Tru5tees' Annual Report has been prepared in accordance with the Companies Act 2006, the Charitie5 Act 2011, and the Statement of Recommended Practice, Accounting and Reporting by Charities, 2019. Who WeAre Amref Healih Ls Afrlca's18adln8 heallh de￿l01￿118nt organL8aUon. We work to brlng atout lastlng heatth change In Afrlca. Amref Health Africa's Headquarters are in Nairobi. Every year. Amref works in more than 35 countrie5 to improve access to healthcare and to help create an environment that is conducive to 8ood health. Our programmes align with our Global Strategy objectives: to increase primary healthcare access for all, and to addre55 the social determinants of health. These are the factors that influence people's health, from thelr access to education, to their gender, and thelr exposure to the Impacts of cllmate change. Amref's programmes focus on.. child health and nutrition,. communicable and non-communicable diseases,. health financin8.' family and reproductive health. neglected tropical diseases: sexual and reproductive health and rights.. and water and sanitation and hygiene. We develop mobile and online learning solutions that make top-class training av3ilable to health workers across the tontinent. We operate a university that shapes the health workforce of the future. We run the continent's leading fixed-wing air ambulance servi￿. Our reach- and our relationships with the communities we support is unparalleled. As the world strives io meet the Sustainable Development Goal of Universal Health Coverage IUHCI by 2030. Amref Health Africa is committed to removing the barriers that impede access to healthcare, ensuring that no-one is left behind. The work of our UK office contributes to this ambitious goal. Amref Health Africa UK Amref Health Africa (trading or known. and referred to hereafter. as Amref Health Africa UK or Amref UK) is one of ten offices in Europe and North America that are responsible for mobilising resource5 to increase the reach and impaci of our work in Africa. Amref Health Africa UK is an independent UK-reEistered NGO INon-Governmental Organisationl that exists to support the programme and policy activities of Amref Health Africa. With a UK-based Board Amref Health Africa UK of Trustee5, Staff team, office and bank accounts, our main Purpose in the UK is to develop and manage partnerships with UK donors who want to support Amref s work in Africa. Our London-based team has skills spanning programme management and technical support, hjndraising and supporter engagement, communications, human resource5, finance, administration, and governance. With an annual income of around £5.5 million. we support a portfol￿ of innovative health programmes funded by a range of donors and partners including institutions. companies. trusts and foundations, and individual supporters. In 2025. Amrel Health Afrlca UK supported 14 programmes In 10 coufttrles. We are proud of the progress we have made. collectively. towards expanding access to healthcare for some of Africa's most remote and marBlnallsed communltles. We would Ilke to extend our thanks to everyone Mtho has been, and contlnues to be, a part of thSs Important work. Amref Health Africa UK Our Strategic Focus and Objectives Amref UK'S primary purpjse is to raise funds frL¥n UK partners and Supporte￿ for AJnrefs ¢ommunlty4ed heatth wcwmme& Amref UK'S straw 2024-2030 aligns wlth the prh)rltles identified by our ￿lleagUeS in Africa but is tailored to the UK ￿rtext We are aiming for transfomiatlonal growth In the UK to SUPkX)rt the work belng done to achleve Afr￿￿'S health transfomatlon. In thL8 stratet/ perkmj, 202￿2030, Amref UK alms to ralse at least £50 mllllon from UK donors to support Amrefs work with African ￿MmunIt￿ to transforni their own he81th and wellbeln& Am￿1 UK almsto rapldty grow Indfvkjual Gmngto ralse £20 mllllon In unrestrlcted income and to secure strateoc partnershitts that deliver£30 millh)n in restricted fundingover thi8 $trateiJ¢ perfod. Slnce settlngthe 2024-2030 Straw. we ha￿ Seen a 8eL8mlc 8hlft In th8 Landscape wthln whlch Amref operats& In 2025, the Intsmath)n81 deve1owentsectorfa￿I a swlft$uccegsk*n ofshock8 set In motlon by the US Government's freeze on forelgn aKI in January. trlggered a profound shmt In the &ot*l health archltecture, destsblllslng decades of Oobal health prow wlth a devaststlng Impaci on vulnerable peopl8. ForAmref Health Afrka, as well as ¢)ur hoalth and do￿10[#1)ent P8eryJ In Afikn and gh)balty, we felt the Impact Immedlatety. After an Inltlal freeze and rethi wrfc*J, 15 programmes were tsmilnatad wlth a loss of $20 mllllon In fundlng ovemlghL Many of the ￿mmun￿leS 8eNed ty these ¢rRl¢g1 health programmes were left wlthout any acc￿ to e88entlal healUKare. In the face of one of the mosl volatile funding environments in ouf history. Amref remained steadfast in our mission to create lasting health change in Africa. Amrefs European and North American office5 provided additional support to our headquarters in Nairobi and rallied behind its strategy to raise restricted and unrestricted funds with renewed energy - leveraging existing partnerships. pursuing strategic ouireach to new partners and supporters, and mainièining a sharp focus on thought leadership and external relations to position Amref a5 a leading voice on African health and development. The Africa Health Agenda International Conference IAHAICI was a key convening moment held in the wake of the US Government funding freeze that cata￿Sed this strategic approach, which we carried forwar(J in our thought leadership worksiream in the UK ihroughout 2025. In 5Plte of the challenge5, Amref UK has recorded £11.6 million income I£0.7 million of which 15 Brant funding from Amref HQ) against the £50.0 million target in the first two years of a seven-year strategy. This has allowed us to spend £IO.I million supporting Amrefs commynity-led health pfogrammes (including £8.8 million of direct grant5 to implementing unrt5 in Afrital. Durin8 2025, we continued to invest in high-performing unrestricted income acquisition channels (Digital and Direct Response Television IDRTVII. The return on investment in the form of significant income growth at a sustained level is not expected to be realised until 2028 and beyond. However. we are already seeing higher levels of giving year-on-year, an increase in our donor base, higher-than-expected average gifts and encouraging retention rates. We deepened existing partnerships, and developed relationships to secure one-year and multi-year funding from target trusts and foundations. corporates. and institutional funders. We also optimised thought leadership opportunities through Amref owned channels and external event5 and media to increa5evisibilityof ourtechnical expert15e and 5UStainable impact. We did all this, whi15t remaining firmly committed to our belief that every Story should be told with respect, authenticity. and care. The people and communities we work with are at the heart Amref Health Africa UK of our mission. and their voices. experiences. and perspectives guide the way we communicate. We are committed to telling people-centred. authentic. and power-aware stories that reflect the realities of life the challenges, the progress. and the everyday moments in between. To meet our strategic objectives, we continued to strengthen the foundations that support our growth. fostering a values-based culture. focusing on best practice donor stewardship, raising Amref UK brand visibility & awareness and developing technology. systems. and processes to improve operations. Amref UK'S work is guided by our value5 of Qualty, Integrity & Ubuntu (shared sense of humanity & compassion) and OUT commitment to Diversity. Equity. Inclusion & Belonging IDEIBI, including being an anti-racist organisation. We know this is a journey of ongoing learning. and we continue to take action to embed these principles in evewhing we do. In 2025, we consolidated the output of various workstream5 into a DEIB Action Plan, the implementation of which ha5 been phased over the remainder of the 2024-2030 strategy period. We continued to invest in being able to attract, recruit, retain and develop talent, supporting succession planning within Amref, recognising our people and ensuring they have the necessary tool5, skills and information required to be excellent. We have grown the team, building capacity, skills and expertise in key strategic areas. We also conllnued the work to complete the mlgratlon of our Customer Relationshlp Management ICRMI to Amrefs new centrali5ed CRM tool, Jumla. We de5iBned and went live with a refreshed UK website. In addition, the development of improved operational planning and knowledge management solutions is ongoing but significant progress has been made over the last year. While ihe wider 8lobal health funding environment remains uncertain, Amref UK ended the year in a strong financial position, thanks to our investment in infrastrvcture, and in the expertlse and talent of our team to drive restricted and unrestricted income-generation. Nevertheless. we recognise the challenges that the wider geopolr(ical environment present to Amref UK and the wider Amref network and we continue to monitor, mitigate and manage the organisaiion's risk profile closely and effectively (see Risk Management Statement and Principal Risks and Uncertainties, p.251. ststement on Public Benefit In performing the above activities, the Trustees of Amref Health Africa UK have complied with their duty tjnder section 17 of the Charities Act 2011 to have due regard to public benefit guidance as published by the Charf(y Commission for England and Wales. Amref Health Africa UK Our Achievements Programme Development and Strategic Partnerships In 2025. Arnref Health Afri￿ UK suprKKted 14 programmes across 10 cx)untiie& In line with our strategic objectives, we pursued an ambitious, tightly-focused programmatic agenda, responding to the greatest needs- as identified by our in-country colleagues- and supporting high- impact programmes spanning Human Resources for Health IHRHI,. Famity and Reproductive Health (also referred to as RMNCH and including Sexual and Reproductive Health and Rights ISRHRII. prevention of Female Genital MUtilat￿n and Cutting IFGM/CI' Water, Sanitation and Hygiene IWASHI; Disease Control and Prevention- and more. The table below outlines the programmes thai were part of Am￿f UK'S portfolio during 2025. Durin8 this period, Amref UK provided support with programme implementation and management as well as partner stewardship. Country No. of Programmes Areas of Activlty Partners/Funders IN.8. Names not aligned with 3rp.35 nf activity) Kenya HRH.. Health worker trainin8 GSK SRHR.. Ending FGMIC The Rabelais Trust Water. Sanitation and Hygiene IWASHI The SOL Foundation One Heahh HRH: Health worker training Malawl Global Heahh Partnerships Tanzanla Maternal, Newborn Reproductive Health Donor preferfin8 to remaln anonymous uganda Maternal. Reproductive Health Newborn Donor preferring to remain anonymous SRHR and WASH HRH- Healih worker trainin8 Regional (Burkina Faso. Cameroon. Ethlopla, Kenya. Zambia, Senegal) GSK Disease Control & Prevention UK Government: Foreign and Commonwealth Development Office IFCDOI SRHR.. Ending FGMIC South Sudan Maternal, Reproductive Health Newborn Al-Basma Foundation TOTAL 14 Amref Health Africa UK Several programmes were Successful￿ completed in 2025. Some key highlights from throughout the year are shared below. African Leadership for Antimicrobial Resistsnce (AMR) Action {RegiOna￿Burklna Faso, Cameroon. Ethiopia, Kenya. Zambia) In partnershlp wlth: GSK Areas of activity: Disease Control and Prevention Several programmes were successfully completed in 2025. In February, Phase l of the GSK-supported African Leadership for Antimicrobial Resistance IAMRI Action programme came to an end. This phase of the programme made significant progress in understanding key regional AMR issues and laying the foundation5 for addre55ing the5e- including key advocacy issue5, Isublnational AMR action/activities, One Health co-ordination, and AMR messaging needs. Signifitant opportunities were identified suth as leveraging commtjnity health workers ICHWSI. Civil Society Organisations ICSOS), and health professionals in raising AMR awareness across various sectors. The importance of strengthened collaboration, networking, and knowledge sharin8 also emerged as 3 priority, hi8hlightin8 the need to engage regional institutions such as Affica CDC Icentres for Disease Control & Prevention), One Health platforms. and CSO networks in advocating for improved stewardship. These priority needs are the tore of Phase 11 of this Programme, which commenced in 2025. Sports for Health ID8gorettl & Embakasl su1￿C￿ntIes, Nalrobl, Kenya) In partnershlp wlth: SOL Foundation Areas of actlylty: Sexual & Reproductive Health & Rights ISRHRI In March, we tompleted the delivery of the Phase 11 Sports for Health project in Dagoretti and Embakasi svb-counties of Nairobi. Kenya which was generously supported by the SOL Foundation. This was the latest phase of the Sports for Health projert originally launched in 2019. This phase aimed to contribute to the reduction of the triple threats of teenage pregnancies, HIV transmissions, and incidents of sexual and gender-based violence amon8 adolescents in these Communities. Implemenied in partnership wilh couniy health teams and local stX)rts councils, the projett has played a transformative role in amplrfying the voices of both boys and girls. many of whom previously lacked a platform to expre55 their unique challenges and needs related io sexual and reproductive heafth. It reached 4,500 adolescents and irained 135 coaches Ifooiball, volleyball and taekwondol through 44 active sports clubs. 450 teenage mothers were enrolled in Technical and Vocational Education and Training courses of their choice, all completed their training building pathways to confidence, income, and independence. Additionally, 150 peer SRHR champion5 were trained to rar5e awarene55 around SRHR and refer adolescents to Ioc31 health facilities. Traditionally. discussions around SRHR have been clouded by stigma and silence. particularlyfor adolescents. whose opinions and experiences are often dismi55ed. Now, adolescents are not only better informed bul a150 increasingly empowered to speak up. Amref Health Africa UK 10 Altematlve Rttes of Passage / Water, Sanitation & Hygiene (Kajiado, Kenrd) In partnership with: Rabelais Trust Areas of attlvity: Sexual & Reproductive Health & Rights ISRHRI and Water, Sanitalion & Hygiene IWASHI In lune, Phase 111 of the Rabelais TnJSt-sup￿rted Alternative Rites of Passage / Water, Sanitation and Hygiene IARPWASHI project was completed. Phase111 Iluly 2023-June 20251 built on earlier ARPWASH phases, integratin8 SRHR, Community-Led ARP and climate-resilient WASH acr055 seven villages in Kajiado, Kenya. It worked across households. schools. and community leadership structures to reduce Female Genital Mutilationlcutting IFGMICI. child marriage. and teenage pregnancy, while simulianeou51y enhancing community heahh and resilience. Using WASH as an entry point, the project combined social norm change interventions with improved access to safe water and sanitation, creating multiple pathways to support girls, rights. shift attitudes. and strengthen local ownership. The programme supported 1,510 gir15 to graduate through Community-Led ARP ceremonies, offerin8 a celebrated alternative to FGM, while the Tracking ihe Girls ITtGI sysiem registered 5,733 girls and enabled 1,749 targeted follow-ups. ensuring those at risk were connected to psychosocial support and safe spaces. A longitudinal study published in 2025 showed exceptionally strong outcomes, with 98% of girls remaining FGM-free, 99% protected from child marriage, an(J 98% continuing in school. Across communltles, mobllisatlon efforts were extenslve. Six Communlty Advlsory Teams, alongslde 62 community champions and 95 Community Health Promoters. engaged 5.075 people in dialogues and awareness activities. Meanwhile, 195 formerly practising FGM practitioners and tradilional birth attendants were irained in alternative livelihoods, transforming them into vocal advocates for abandonment. Work with youn8 people also strengthened protective environments, with 23 school anti-FGM club5 Tevitalised and guided by 33 trained patrons who led peer-education through creative expresslon. Improvements in WASH infrastructure supported safer. healthier environments, with four water systems rehabilitated and 23 villages achieving open-defecalion-free IODFI statU5, while another eight villages progressed towards certification. These system5 are now managed sustainably through trained community commtttees. Overall, outcome harvesting revealed signrficant shifts in community attitudes, greater enforcement of child protection norms, and stronger Collaboration between local institutions demonstrating both behavioural and stnjctural change in the movement to end FGM. Examples of Our Work - Afrfcan4ed. Communlty4rlven Highlighted below are select examples of the work Amref Heatth Africa UK has supported during the reporting period. All of these programmes a￿ typical of our African-letl, community-driven approath to securing lasting health change. As stated in the introduction to this report, everything Amref UK does contributes to the goal of making Universal Health Coverage IUHCI a realtty by 2030. For us, this translates to strengthening health systems, training health workers, creating the conditions in which good health can thrive, and improving access to vital services for some of the continenvs most remote and marginalised communities. Amref Health Africa UK 11 These are communities that are the most marginalised by the factor5 that influence health, from access to education, to gender, and their exposure to the impacts of climate change. Together, these continue to create further barriers to access and deliver quality health care. Prlmary Heafthcare for Malarla EllmSnatlon (RegIona￿enYa, Zambla) In partnership with: GSK Areas of actlvlty: Disease Control and Prevention Africalsteve Ka8ia/2025 Malaria is preventable, but it remains a global health burden. COVIO-19 accelerated the number of cases and deaths due to malaria across the world, but Africa Still bears approximately 95% of global malaria deaths. In Kenya there are 3.5 million new malaria cases per year and in Zambia, every re8ion ha5 3 high malaria risk. There is an urgent need to allocate resources to malaria prevention, managemenl and elimination. Africa's response to malaria is threatened by the Scale of the burden, combined with iising biological threats related to climate change, anti-mal8ri81 resistance IAMRI, and a new mosquito species- the Anopheles stephensi. In 2025, the project accelerated implementation in Kenya and Zambia leading to strong progress in malaria prevention, treatment acce55, and community engagement. In Kenya, efforts centred on strengthening community awa￿neSS through training frontline health workers and Community Health Promoters, improving commodity management and quality a55urance system5, and advancing Social accounlability with civil society partners. Budget advocary, improved financial planning, and stronger data-driven decision-making further reinforced multisectoral collaboration and alignment with national and county structures. In Zambia, the project dirertly reached over one million people through an extensive package of Social and Behaviour Change interventions delivered via household vi5it5, health talks, community dialo8ue5, radio programmes. traditional ceremonies. and national malaria events. Capacity building and deployment of Community-Ba5ed Volunteers and supervisors ensured continuity of community-level Amref Health Africa UK 12 services, while distrlct readiness for malaria vaccine rolloLrt improved signrficantly through training and community awarene55 efforts, resulting in high coverage during vaccine introdurtion. Both countries contributed to stronger governance and resilience of health systems Kenya through enhanced technical assistance. commodity distribution and social accountability mechanisms. and Zambia through improved malaria reporting efficiency and timely data submi55ion into DHIS2 (national health management information system). Despite progress. the project navigated a challenging operating environment characterised bv Community Health Worker attrition, withdrawal of complementary partners, delayed coordination with national programmes, and commodtty shortFalls, all of which required adaptive management. Even so. the programme achieved major outcome-level gains.. strengthened commodity management and quality improvement ensured time￿ treatment in over 90% of supported facilities; systematic data reviews and monitoring improved reporting accuracy to over 95%; multisectoral collaboration enhanced malaria vaccine delivery, indoor sprayin& and community case management,. and community-led social audits deepened transparency. trust. and service responsivenes5. These accountability mechanisms Strengthened ownership, improved malaria service quality, and reinforced the long-term sustainability of inteThentions. Rl8ay8t Um8h8tln8 - Carfng for Our Mothers (Greater Tonj, Warrap Stats, South Sudan) In partnershlp ￿th. Al-Basma Foundation Areas of actlvlty: Maternal, Newborn & Reprodurtive Health Souih Sudan faces deep, complex health challenges. The counlry's health services are chronically under-funded. severely under-staffed. and made more vulnerable by ongoing conflict. It is one of the most dangerous place5 in the world for a woman to get pregnant and give birth. Fewer than l in 5 births are assisted by a skilled health worker as there are just 7 health workers for every 10,000 people. For every 100,000 Ilve births, 1,150 mothers dle-the worst maternal death rate in the world. Early progress in the Rieayat Umahatina (Caring for our Mothers) project shows strong improvement5 in maternal and newborn health service uptake across 24 supported facilities in Greater Tonj. A total of 2,123 women completed their fourth antenatal care IANCI visit, and 362 skilled deliveries were recorded in the period referenced. alongside strengthened emergency referral and surgical care, including 62 lrfe5avin8 caesarean sections and 85 ambulance referrals. Overall, the programme has directty reached 12,468 people to date through antenatal care, skilled deliveries, inpatient services, and surgical care. Service quality and facilty preparedness have advanced through substantial capacity strengthening at Tonj Civil Hospital and Marial Lou Hospital. This include5 training40 health workers in Basic Emergency Obstetric and Neonatal Care IBEMONCI, re8ular supportive supervision, and the provision of esseniial medicines. buffer stocks. and theatre equipment. Expanded surgical capacity is demonstrated by 293 emergency surgical procedure5 conducted by the programme's specialist doctor, alongside broader improvements in comprehensive emergency obstetric and newborn care. Community and system-level engagement has also grown. wf(h six radio talk shows aired on maternal and newborn health, training on referral pathway5, and regular coordination with State and county health authorrties-all reinforcing al￿nment with South Sudan's Health Sector Transformation Project. Sustainability and institutionalisation efforts are progressing well. Indirect reach has expanded through mass communication, including an estimated 22,762 people reached via Door FM broadcasts Amref Health Africa UK 13 in Tonj South and Tonj East-many of whom are women and adolescent girls-wf(h more people to be reached indirectly through upcoming community health se55ion5. These efforts contribute to steady progress toward the programme's three-year target to reach 6(KJ,000 people indirectly. Global Health Wortrforce Partnershlp (Malawl) In partnership with: Global Health Partnerships Areas of activity: Human Resources for He3￿h Health workers ai Salima Disrria Hospital. Malawi with officials from the UK Departmeni ol Health and Social Care Q Amrel Health Africa In Malawi The Global Healih Workforce Programme IGHWP 111, ftjnded by the UK Department of Health and Social Care, supports health partnerships between the UK and Ethiopia. Malawi, and Somaliland to address national￿ and locally identified health workforce priorities and challenges. Global Health Partnerships (formerly THET) is the Fund Managerforthe Programme. Amref Health Africa partnered with the Medical Council of Malawi to deliver the project in Malawi. For years, Malawi's frontline health workers delivered essential services under difficult conditions, often without structured systems to guide performance, assess progress, or support professional growth. This gap weakened accountability. supervision, and motivation, particularly for Disease Control Surveillance A55lStants IDCSAsl, who play a critical role in disease prevention, Surveillance and community engagement. The GHWP 11 programme has strengthened the health workforce by introducing a standardised Performance Management System IPMSI alongside Continuou5 Professional Development ICPDI and embedded Gender Equality and Social Inclusion IGESII principles. The initiative aimed to professionalise community health work. align service delivery with national health workforce priorities, and improve the quality and avail3bility of training opportunities, contributing to more resilient health systems and improved health outcomes. Amref Health Africa UK 14 Amref Health Africa provided technical leadership and capacity buildin& the Medical Council of Malawi was the regulatory body. while the Ministry of Health ensured national ownership and policy alignment. District managers and supervisors were trained to implement PMS as a supportive, developmental process rather than a punitive one. Despite early challenges, Such as heavy workloads and varying digital literacy. the partnership has collaborated to encourage prioritisation of professional development. "Performance management has helped shift the mindset from simply completing ta5k5 to delivering result5, say5 McDuff Msukwa, Director of Human Resource5 at the Ministry of Health. "Health worker5 now understand what is expected of them, how their work contributes to achieving universal health coverage and how they can continuously improve. That clarity has Strengthened accountabilitv and motivation at all levels." For health workers like Josaline Mambo, a DCSA in Mangochi. the change has been tangible. 'Before, I worked without clear targets. Now l set goals, monrtor my proBres5, and know where to improve., she explains. Emily notes that tracking targets through PMS has led to improved service delivery outcomes. In her catchment area, vaccine coverage increased, and household vislts have risen, reflecting better planning and accountability. Jos81in8 Mambo, 8 DCSA in Mangochi@AmrelHe<h Afrit8 Kondwani lulius. a DCSA in Salima. adds that he is more organised and more accountable for his results, and that he feels better supported by hls supervisor. To date, 997 health workers. including 888 DCSAs and 109 supervisors and managers, have been trained in PMS, CPD, and GESI. Health workers now develop annual work plan5, participate in structured performance reviews, and receive regular supportive supervision. Distritts Such as Mangochi, Karonga, and Salima have reported improved planning and reporting, and more consistent delivery of community health services. These improvements have enhanced disease surveillance, household follow-up, and community trust, demon5tralin8 thal investmenl in 5tructvred systems. not just trainin& delivers lasting impact. GHWP 11 aligns with Malawi's Heatth Sector Strategic Plan 111 and the Human Resources for Health a8enda, contributing more widely lo Universal Hea￿h Coverage. Sustainability 15 central.. all tools and systems are embedded wtthin Ministry structures, supervisors and managers are prepared to fully own PMS and CPD processes. and the digital learning platform remains housed within government Systems. GHWP 11 demonstrates how equitable and mutually beneficial health partnership5 can strengthen the health workforce and build more resilient heatth systems by transforming how health workers are sUPPOrted, managed and motivated, delivering measurable benefits for communitie5 and long- term value ft)r donor inve5trnent. Amref Health Africa UK 15 Our Achievements Income Generation In a challen@ng year, we retalned our sharp focus on our Incomtrgeneratlng strntegr. to develop a robust restricted In￿Me pipeline from our estsblished relationshi￿ and new partner outreach: to bulld on the strongfoundatlons of our Indfvidual Gmng approach and scale what Is workln& At the centre of stratw b strong stewardshlp of our donorn and partneryd, and Investment In communications to drive brand visibilrty and awarenes& AmRf UK ralsed £5.5 mllllon S14 mllllon Unrestr1￿ and £3.1 mllllon ￿$trICted} In 2025. The most signtfkant portlon of our Incyjme rArne from Trusts & Foundatlons. wlth a number of large grants arKI donatlons totslling￿o mlllk)n. Approach and Stewardship Our strategy requires close collaboration from teams at Amref HQ and country offices, Amreys other European and North American offices, and the Board of Trustees. In addition. teams were supported by volunteers through our partnership with the University of East Anglla. We would Ilke to thank all those who sUPPOrted Amref UK to deliver these key priorities in 2025. Through 2025, Amref UK continued to work with Amref HQ Icr teams to finali5e the p051-mi6ration configuration of Amref s new Customer Relationship Management ICRMI platform, Jumla. The Amref HQ ICT teams also supported several website technical and design processes including moving the Amref UK website to be hosted centrally on HQ I￿ servers, with the refreshed website launched in December 2025. Amref UK renewed Its Fundraisin8 Regulator membershlp and attended sector conferences and training to ensure best practice across income-generating activities. The Charity did not receive any complainls related to fundraising in 2025. There were no reportable data protection breache5, and there were no reported instances of failures to comply with any schemes or standards including ihose of the Fundraising Regulator. Treating supporters with respect and dignity remained a key priority in 2025. We reviewed our Privacy Policy and Cookies Policy, and howwe use our database as well as how we record and manage consent preferences, and our supporter journeys for individuals. We ensured that the Privacy Policy, Fundraising Regulator logo and other essential statements were displayed in online and printed fundraising materia15. We undertook a regular review of our legitimate interest ba515 for contacting individuals as part of our GDPR compliance early in 2025, takin8 the appropriate a￿lon5, and we were efficient at updating consent preferences and opt-out requests. Amref UK does nol specrfically work with children or other vulnerable groups, but we recognise vulnerable individuals will be included within our supporter5 and our database. We used our Safeguarding Policies to help ensure communications were appropriate and adjusted communications for any individuals who appeared to be in a vulnerable position. The most postal mailings anv supporter received from Amref UK in 2025 wa5 10, wtth up to 40 emails for those who had opted into the mailing list. Our digital audience remains highly engaged, with open rates that consistently surpass industry standard. Our communications are designed to infomi. inspire. and encourage. Amref Health Africa UK 16 Driving Brand Visibility and Awareness through Communications to Support Income Generation Communications is a strat* enabler of ￿oWth, supporting In￿Me generntkn Increaslng Amrefs brand vIsI￿lIty and 8*e￿ne$S wlth audlence groukB In the U In an increasingly challenBing external environment, including declining public trust in aid and a tompetitive fundraising landscape, communications IS a strategic necesstty for strengthenin8 reputation. influence. and donor confidence. In 2025. we undertook a review of Amref UK external communications to identify gaps and opportunities, which informed the development of a new UK external communications strategy. Through the year we continued our ongoing media engagement and events workstreams to ensure Amref brand visibility with our key audiences. We secured extensive, high-quality media coverage acr055 major UK and global outlets, reinfortin8 our role as a trusted Africa-led health authority. Hlghlights included multiple expert features in The Guordion, where Amref spokespeople pfovided authoritative commentary on topics ranging from 8lob31 health inequalities to the impact of WHO (World Health Organisationl Staffing cut5. Additionally, we partnered with media a8enry Mediaplanet to develop a print and digital campaign in The Guordion to showcase our Antimicrobial Resistance IAMRI leadership around World Antimicrobial Resistance Awareness Week. Cht7nnel 4 News broadcast a widely viewed interview with Group CEO Dr Githinji Gitahi on the implications of ihe USAIO shutdown. reaching an estim3ted 32 million monthty viewers. Further Vlsibility came from Politico. The Independent. Devex. and Action Aor Globol Heolth, where Amref leaders contributed interviews. expert quotes, and op-eds on aid cuts, African health system resilience, and ethical storytelling. Amref UK also sirengihene(J its presence across influential settor events and conferences. At the UK-Africa Health Summit. Head of Programmes and Strategic Partnerships Dr Aneesa Ahmed tontributed to a high-level panel on Antimicrobial Stewardship, showcasing Amrefs technical leadership on Antimicrobial Resistance IAMRI. At ihe Third Sectoi Conference, CEO Camilla Knox-Peebles delivered a keynote speech on maintaining Africa-led approaches amid funding cuts. These engagements enhanced Amrers visibility wf(h policymakers. funders, and sector leaders, reinforcing our cre(Jibility as a thought leader on Africa-led health solvtions. Income from Donations and Legacies We Trlsed £2.1 mllllon (£L3 mlllion unrestrthj and £￿8 mlllNJn restr1￿} of Income from Donations and Legacies in 2025. The maiottty to incajme from individuals. including major donor5. and trusts and ft)undatiorY& We aim to rapidly @row funds from Individual Giving to raise £20 million in unrestricted income over the strategic period 2024-2030. Through 2025 our donation5 and legacies income set a solid base for our strategic growth into 2026. All donations and leg¥¢ie5 income stream5 grew year-on-year, indicating that the investment to date is starting to bear fruit. This was a foundational year for the investment in Individual Giving. We receNed a total of £644,C from the Growth Enablement Fund IGEFI held by the Fundraising and Development team at HQto grow our Individual Giving supporter base. Thi5 was focused on driving digital campaigns on Meta Amref Health Africa UK 17 platforms (Facebook and Instagraml and Direct Response TV IDRTVI which helped us to engage 1,176 new donors through the year. We continued developing and testing our proposition, monitorin& learning and refining our approach to ensure our investment in fundraising is working as effectively as possible. optimising retums and maximising the available funds to support Amref s community-led health-pro8rammes. We continued to fundraise for unrestricted income with £1.3 million in unrestricted donations and legacie5 being raised in 2025, a 29% year-on-year increase. Income grew across all areas in 2025, with significant increases from corporate giving, legaties, major donors, community and events itlcome. Our Individual GivinB income grew, largely due to the strong performance of our direct mail warm appea15 and strong single giver response to aCqillSltion campaigns. Overall warm appeal income lexcluding match fvndsl for 2025 was £75,￿) against a fvll year target of £55,000, thanks to a strong response to the Spring Urgent Appeal follov4in8 the cuts to Official Developmenl Assistance IODAI and the match funded Christmas Appeal. Major donor unre51ricted income Brew by 64% in 2025. Most Mbele Movement IAmref UK Giving Cirtlel members increased their annual gifts through the year, in response to the Urgent Appeal and the Mbele Movement visit to Amref Tan2ani3, as well as the Big Give Christmas Challenge. This was the fourth year we have engaged with the Big Give Christmas Challenge, and we raised a record £105,OW In lust over two days. By the enil of 2025 we had 25 active unrestricted trusts and foundations wlth three new trusts making a donation. We received repeat annual Bifts of £100-£5.OtKJ from many loyal small trust donors, for which we are very grateful. In addition, we secured gifts of £5,CQO-£30,000 from mid-size trusts. Amref Health Africa UK receives ongoing and impactful support from players of People's Postcode Lottery who have supported our work since 2018. Thanks to funds raised by players of People's Postcode Lottery, in 2025 Amref received a Regular Award of £0.5 million from Postcode Global Trust, which was fully unrestricted. Thi5 flexibility is crucially important; it allows us to allocate funds to where they are needed most by communities. In addition. we were invited to apply for an increased Regular Award of £0.7 million for 2026. We are so grateful for the continued commitment, and trust, the players of People's Postcode Lottery place in Amref to partner with tommunities across Afrlca for lastin8 health change. A renewed effort on employee engagement at GSK bore fruit for Individual Sponsorships and Events with two strategic activities to raise both restricted and unrestricted funds. GSK employees engaged in the Trek for Health anil 2025 London Marathon which helped to surpass both fundraising targets. In addition. we were grateful to receivethe support of our longstanding community fundraising groups and corporate partners. Legacie5 income stood al £53,000, wtth some complex estates close to being finalised for distribution in early 2026. There is a strong pipeline and work is ongoing to develop a bespoke legacy proposition with the global network to expand this work in 2026. Amref Health Africa UK 18 Income from Charitable Activities We raised £3.3 million (£LO million Unrestric￿ and £13 millK)n restricted) of Income from Charitable P£tivities in 2025. Trusts and foundations rJ)ntinued to be a vitsl source of income for Amref Health Africa with £0.7 million raised. Afurther£L7 million was TeceNed from GSK. Our 2024-2030 Strategy details a clear focus on value over volume to secure strategic partnerships that deliver £30.0 million in restricted funding. Through 2025, we focused on our programme support with Amref Country offices io achieve Sirong programmatic delivery, and thought leadership opportunities through Amref owned channels and external events and media to increase visibility of our technical expertise and sustainable impact. We deepened existing partnerships, and developed pipeline relation5hip5 to secure one-year and multi-year funding from target trusts and foundations, corporates. and institutional funders. Although 2025 was a tumultuous year for global health, with our focus on stewardship and stability, our core programme deliverables were largely unaffected. Where relevant, these challenges have been discussed with fundefs and activitie$ adapted to ensure maximum impact is still being achieved and any gaps being addressed. We have intensified our focus on resource mobilisation particularly for those offices/aTeas of work most affected. As part of our ongoin8 dedication to funder stewardship, we were pleased to welcome a new Global Account Manager to the Programmes and StrateBic Partnerships team to manage our longstanding partnership with GSK. With the support of existing and new UK funders, we were pleased to continue our vital programmatic work, 5UPPOrting ongoing programmes and securing funding for renewed phases of work and new programmes. In 2025, we received £1.5 million from GSK for the final year of a three-year regional (Kenya & Zambial malaria elimination programme as well as £O.I million of funding for a healthworker training programme in Kenya. We also conlinued our regional engagement on the Phase 11 of the African Leadership for AMR Action programme which commenced in March 2025. supported by a £0.5 million grant from GSK Ireceived in 20241. We secured renewed flexible funding of £0.4 million from the Rabelais Trust for a new phase of the ARPWASH programme In Kajiado, Kenya which is being supported alongside new flexible funding for the Strengthening One Health. Livelihoods. & Resilience for Pastoral Communities ISOLARI project in Marsabit and 15iolo Countie5, Kenya. New grants were also secured in 2025, including a grant of £0.3 million I£O.I million reco8nised In 20251 from Al-Basma Foundation which is funding a three-year project. Rieayat Umahatina (Caring for Our Mothers) in Warrap State, Souih Sudan, focussed on delivering sustainable quality malernal care Services. In addition, Amref UK and Amref Malawi partnered wilh the Medical Council of Malawi to deliver the Global He3￿h Workforce Pro8ramme11 IGHWP111, funded by the UK Department of Health and Social Care. which aims to strengthen Malawi's health workforce through performance management and continuous professional development. Amref secured £0.2 million from Global Health Partnerships IformerlyTHETI. the Fund Manager for the Programme. You can ￿ad more about these programmes on p. 9 (Our Achievements- Programme Development and Strategic Partnerships). Amref Health Africa UK 19 Financial Review 2024 saw a promising start to the delivery of the 2024-2030 strategy wf(h £6.1 million income secured against the £50.0 million target for the seven-year strategic period. However. as we moved into 2025, the international developmenl Sector wa5 faced wilh a swift succession of shocks set in motion by the US Government's freeze on foreign aid. This triggered a profound shift in the global health architecture, destabilising decades of global health progress. In the face of one of ihe m05t volatile funding environments in our history. Amref remained steadfast in our mission to create lasting health change in Africa. In the UK. alonB wrth the other Amref European and North American offices, Amref doubled down on mobilising resource5 to 5UPPOrt the communities we Serve, recording £5.5 million income in 2025 and spending £4.6 million on our programmes, including £3.9 million in grants to Amref implementing units in Africa. Amref Heafth Africa UK has closed 2025 in a strong financial position being within our free reserves target range and maintaining robust cash and term deposit levels. This stands us in good stead to navigate the environment of uncertainty that has continued into 2026. We continue to monitor and manage our cost base effertively during this time. adapting to new and unexperted challenges as they arise. £5.5 million total income wa5 recognised in 2025, £2.4 million of which wa5 unrestricted. Unrestricted income was 16% higher in 2025 compared to the previous period with continued Strength in Individual Glving and Trusts anil Foundatlons-of particular note was an unrestricted contribution of £0.5 million from the Postcode Global Trust, a much-valued lon8-term partner. Our investment in unrestricted fundraising, supported through restricted funding from Amref Hil is beginning to bear fruit at a time when the importance of diversifying our donor base and income portfolio Is even more pronounced. Individual Giving acquisition has focused on Direct Response TV and Digital channels. The return on investment in the form of significant income growth at a 5LlStained level is not experted to be realised until 2028 and beyond. However, we are already seeing higher levels of giving year-on-year, an increase in our donor base. higher-than-expected average gifts and encouraglng retention rates. All unrestricted fvndraised income streams outperformed the prlor year which is eKtremely posilive gwen the ongoin8 COSt-of-living challenges and a highly competitive market in the UK. Key fundraising metrics are monitored continuously to ensure that our fundraising activities are as cost*ffective as possible. We close the year with an unrestricted surplus of £159.0(Kl. 3 proportion of which has been ringfenced in the Individual Giving Growth Designated Fund IIGGDFI, as approved by the Board in November 2025, thereby increasing the closing balance on the fund from £350,OC(l in 2024 to £400,000 in 2025. The level of free reserves. which excludes the IGGDF balance. remains within target range between the midpoint and upper threshold and more detail is provided in the Reserves Policy section below. £3.1 million restricted income wa5 recogni5ed in 2025 and this included £1.6 million of GSK funding 1£1.5 million for an ongoing regional malaria programme. focusing on Kenya and Zambia and £0. I million for a health worker training programme in Kenya). £0.6 million restricted income was also received from Amref HQ to support investment in unrestricted fundraising. Overall. restricted income was 24% lower than the previous year with 2025 bringing an increasingty challenging environment of heightened competition and funders reviewing their philanthropy strategies in light of the funding Amref Health Africa UK 20 cuts and shifts. Nevertheless, two new funders were secured in earty 2025. supporting a Maternal, Newborn & Reproductive Health programme in South Sudan and a Health Worker Training programme in Malawi. This 1$ an excellent achievement given the backdrop of uncertainty during this time and is of particular importance Bwen how Significant￿ the foreign aid cuts have impacted these two countries. We are continuing to strategically target relevant funders at conference and through networks as well as exploring other approaches such as cross-sector partnerships. and collaborating with other NGOS for joint applications. The organisation's pipeline ￿MaInS strong but business development will be a critical focus for 2026. Restricted expenditure in the period was 4% lower than the previous period. Restricted expenditure is predominantly made up of transfers to Africa for programme implementation, the timings of which are determined by delivery progress and burn rate. 2025 saw the continued delivery on a number of programmes which is welcomed and we thank our colleagues at Amref HQ and in the Amref Counlrv Offices in Africa for their continued technical excellence. creative Problem-sotving and collaboration. This period's restricted deficit of £999.C#JO primarily reflects the timing of receipt of @rants compared to their dlsbursement to Amref Health Afrlca's HQ in Nairobl. Specrfically, 2025 saw a full year of programme delivery and expenditure on the two Obstetri¢ Fistula programmes in Uganda and Tanzania as well as the Piwa MalenB Iour Clean Waterl programme in Uganda for which the income had been received and recognised in previous financial years. hence the in-year deficit. No individual restrlcted fund has a closing deficit balance. ReseNes Policy We end the year with funds of £3.9 million. 57% of this. however, is restricted, and therefore not available for the general purposes of the Charity. This is a resuk of timing differences and represents funds pending disbursement to Amref Health Africa's HQ in line with programme implementation and progress. The remaining 43% is unrestricted with £400.(M)O of this ringfenced as an Individual Giving Growth Designated Fund IIGGDFI- The creaiion of the IGGOF was approved by the Board in Marth 2023 to support planned investment in individual giving acquisition and growth (including philanthropy) up to 2030. This investment is being supported bygrant funding from Amref HQto 2028 and will be funded from the IGGDF thereafter. The aim is to incrementally build up the IGGDF to ensure sufficieni funds are available for the planned invesiment from 2028 to 2030. The decision to hold £400,000 in the fund at 31 December 2025 was approved by the Board in November 2025. The reseryes calculations which underpin our policy are in line with Charity Commission guidance and are designed to ensure that we retain sufficient working capital. but that we are also well-equipped to address ri5k5 and opportunitie5 faced, whilst a150 bearing in mind that we should only keep the reserves that are required, in order to Use our funds most effertivety. We aim to hold sufficient reserves to manage our financial risks and our working capital pressures. We also have an element of our free reserve$ 3vail3ble to enable u5 to harness opportunities 3$ they arise. The calculation5 showed that as of the end of 2025 we should aim to hold £875,(KM) - £1,275,000 in unrestricted free reserves. Amref Health Africa UK 21 The unrestricted free reserves balance held as of 31 December 2025 was £I.269,C￿, made up of unrestricted reserves less the net book value of tangible fixed assets, less designated funds. This is within the target range. The unrestricted free reserves levels will continue to be monitored closely. We will continue to review our reserves policy to ensure it meets the needs of the Charity. Going Concem The Trustees have undertaken a detailed review of income. costs. Cash flow. reserves and exlern31 factors and considered ihat the Charity is a going concern. The Trustees believe that ihe Charity has adequate resources to continue in operational existence for the foreseeable future as expected funds receivable are anticipated to be sufficient to fund committed projects. Thus, they continue to adopt the going concern basis of accounting in preparing the annu31 financial statements. In the unlikelv event of Amref UK no longer operatin& any ongoing programmes would be transfeired to Amref HQ and Country Offices ensuring that Amref UK'S charitable objects continued to be met. Investments All fund5 held in the UK forfuture use are held in deposit account5 Wlth United Kingdom-based banks. The majority of funds are available on demand but as at 310ecember 2025. £0.1 million was held in a l Year Fixed Term Oeposit, shown as a current asset investment, and £0.5 million was held in a 95 Day Notice account, shown as a short-term deposit in the financial statements. Related Party Transactions As set out in Note 14 of the Financial Statements, during the year, transactions were undertaken with Amref Health Africa's HQ in Kenya. Donations were also receNed from a number of Trustees and Key Management Personnel. Amref Health Africa UK 22 Structure, Governance, and Management Constitution and Governing Documents Amref Hea￿h Africa UK 15 re81SteTed as a company in England, Company Number 00982544, whose members, liability is limited by guarantee. The members are constttuted solely of Trustees and all Trustees are members. The objetts of the company, the powers of the Board of Directors and the regulations concerningthe appointment of new Directors are set out in the Memorandum and Articles of Association, last amended on 9 June 2023 to better safeguard the key governance mechanisms of the organisation. Amref Health Africa UK is also registered as a Charity with the Ch3rity Commission in England and Wales, Charity Number 261488. The organisation's Charitable Objects are "to 5UPPOrt and foster the investigation and advancement in Africa of medical. scientific. educational and cultural knowledge and to apply the knowledge derived therefrom to the causes. prevention. relief and therapy of human diseases and misery for ihe relief of m3nkin(J in general-. Governance The Board of Trustees 15 responsible for the effective governance of the Charity, guided by the Charity Governance Code. A steady renewal of Directors is provided by ihe maximum term5 of office Ithree consecutive terms of three years totalling nine years) set out in the Memorandum and Article5. Succession planning arrangements ensure timely replacement of Trustees resigning or reaching the end of their terms of office. There are two sub-committees of the Board; the Finance Cornmittee and the Governance Committee. Both these sub-committees meet quarterly in advance of the full Board meeting. The Finance Committee's remit includes internal control and risk management systems. financial planning and reporting, financial policies and proceilures, fraud and whistleblowing of a financial nature, and external audit. The membership of the Finance Committee is drawn from existing Board members and must include the Treasurer and the Chair. The remit of the Governance Committee include5 Board structure, focus and effectiveness. organisational structure and culture. the employment life cycle, policy review, and the broader governance considerations regarding the relationship with Amref Health Africa HQ. The membership of the GoveTnance Commitlee 15 drawn from eKi51ing Board members and must include the Chair. New Trustees are recruited through a formal process which includes external advertising of the vacancy, written applications, and formal interviews with current Trustees and the Chief Executive. Following appointment. new Trustees undertake an indurtion process which covers their formal and informal role5 and responsibilities as Trustees and gives a detailed introduction to the aims and work of the organisation. Good governance is supported through a surie of policies and procedures which are reviewed on an annual or biennial basis. Within this period. a number of policies and procedures were reviewed and amended to ensure they were rrt for purpose. Amref Health Africa UK 23 Pay Policy for Senior Staff The Board of Trustees, together wfth the Senior Management Team, make up the key mana8ement personnel of the Charity- Trustees give their time freety and details of any expenses and related party transactions are disclosed in the Notes to the Accounts. Remuneration of all staff including the Senior Management Team follows a clear policy which aims to find a balance between attractin8 and rewarding our $13ff for their incredible contribution and ensurin8 that we are financially responsible with the fundrng from our donors and 5UPPOrteTS. Market data is considered for each individual position to ensure that each salary is set to within the acceptable range around the market median as set out in the policy. A percentage increase was determined for each member of staff based on affordability. the market data for their role as well as their performance for the year in line with the Salary Policy. These increases were applied with effert from l January 2025. Amref Health Africa UK 24 Risk Management Statement A robust risk management proce55 is underpinned by a quarterly review using a Risk Register approach, invofving staff and Trustees, which ensure5 the monitoring of all risks and identifie5 those material risks worthy of closer scrutiny. The Board delegates specific responsibility for risk management and mitigation to executive staff. Principal Risks and Uncertainties Amref UK closes 2025 in a strong financial position with a robust level of free reserves and a highlv liquid balance sheet. Nevertheless, these financial statements are presented at a time of unprecedented uncertainty in the global geopolitical arena with the International Development sector facing huge challenges as a resu￿ of the seismic macro-economic shifts taking place. In 2025. we have seen a freeze on USAID followed by the permanent closure of the majority of USAID funded programmes and any remaining programmes being folded into the State Department. The UK Government has also cut the UKAID budget from 0.5% of Gross National Income IGNII to 0.3%. This trend of Governments downgrading International Development as a priority area has also been seen in other European countiies since the start of 2025. A5 a resu￿, the external funding environment is far more tompetitive than it was with a resultant pressure on restricted income. However, Amref UK has continued to attract and secure new funders in 2025 and current lon8-513nding funders have reaffirmed their commitment to global health. Furthermore, Amref s focus on local partnerships and community-based solutions coulil enhance long-term sustainability. Neverthele55, securing restricted programme funding is a significant risk in 2026 with heightened competition and funders reviewing their philanthropy strategies in light of the funding cuts and shifts. These wider developments within the geopolitical environment also make our stfategy to grow Amref UK'S unrestricted individual giving income streams even more urgent and important. The potential inflationary increases from a less open global trade system and ongoing conflict in the Middle East compounded by the evofving narrative around the deprioritisation of aid could mean that the UK public in 8eneial is less receptive to such fundraising efforts. However, we anticipate engagement with our mi55ion to remain high with our key acquisition target audience5. GSK continues to be a much-valued partner with £1.7 million income recorded in 2025 which equated to 31% of total income. On the face of it. this would seem to indicate a hi8h-risk reliance on GSK as a funder. However, the majority of GSK funding 15 transferred to the implementing Country Offices, with the element retained by Amref UK to cover programme-related UK costs the more relevant in terms of Amref UK financial exposu￿. £239.￿0 of GSK funding was retained by Amref UK in 2025 for related programme costs which equated to 4% of the total income recorded and 10% of total income retained in the UK for UK costs. Decisions around progr3mmatlC Strategic direction as well as the design and delivery of individual programmes are made at Amref Healih Africa HQ and Country Offices by skilled and eXperIen￿d staff (including health I medical professionals) and are not influenced by GSK hence ensuring autonomy of decision-making by suitably qualified personnel separate to and independent of GSK. Amref Health Africa UK 25 Recruitment, retention and motivation of staff continues to be a risk against a backdrop of prolonged uncertainty in the world beyond Amref UK. We seek to mitigate this through 3 culture of staff en8a8ement and development, an emphasis on staff wellbeing, and by ensuring that we are paying the market rate to our people - along With competitNe benefTts. The work around our commitment to Diversity. Equity. Inclusion & Belonging IDEIBI including anti-racism continued into 2025 and beyond. We have also retained 3 hybrid-working approach which is reaping benefits with the flexibility tt offers staff. Amref UK eontinue5 to priorit15e safeguarding as an essential part of our work. Risks regarding safeguarding are mitigated by the adoption of best practice policies, mandatory staff and contractor safeguarding trainin& the appointment of a Trustee safeguarding lead, and regular risk monitoring, including within our work in Africa. We continue to engage with Bond to ensure that we are informed by best practice in the sector. We continue to monitor risks around the protection of data. in line with the General Data Protection Regulation IGDPRI, Privacy & Electronic Communications Regulations IPECRI. and the Data (Use and Access) Aci 2025 IDUAAI. The main risk identified is thai the organisation might inadverterttly store data about donors, and the Supporter Engagement team rigorously monitor their5yStems and record5 to ensure that no unnecessary or prohibited data is stored. Annual mandatory training on data protection is undertaken by all staff. The organisation is also addressing and managing the emerging risk relating to Artificial Intelligence IAII wilh a specifK policy introduced in early 2026. As the UK office of an African NGO, we are responsible for ensuring that funds sentto our HQ in Nairobi for onward transmission to African country offices are spent well and reported against. We mitigate the risks associaled with this through formal agreements with othef Amref Health Africa offices, robust internal processes, and regularcontact wilh colleagues across the Amref Health Africa network, including 5UPPOrt and monitoring visits by UK staff to the actual programmes. Amref Health Africa UK 26 Statement of Trustees, Responsibilities The Trustees (who are also Directors of Amref Hea￿h Africa UK for the purposes of company lawl are responsible for preparing the Trustees, Annual Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards Iunited Kingdom Generally Accepted Accounting Practice). Company law requires the Trustees to prepare financial statements for each financial year, which give a true and fair view of the state of affairs of the charrtable company and of the income and expenditure of the charitable company for that period. In preparing these financial statements, the Trustees are required to.. Select suitable accounting policies and then appty them consistentlv.. observe the method5 and Principle5 in Accounting and Reporting by Charities.. Statement of Recommended Practice applicable to charities preparing iheir accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021.. Make judgements and estimates that are reasonable and prudent; State whether applicable UK Accounting Standards, including FRS 102, have been followed, subject to any material departures disclosed and explained in the financial statements.. Prepare the financial statements on the going concern basis unless it is inappropriate to presume that the tharitoble company will continue in operation. The Trustees have overall responslbillty for ensuring that the Charlty has an appropriate system of controls, financial and otherwise. The Trustees are also responsible for keeping proper accounting records that disclose with reasonable accuracy and are sufficient to show and explain the Charl￿5 transartions and the financial position of the Charity at any tlme to enable the 803rd members io ensure that the financial statements complv with the Companies Act 2006. They are also responsible for gafeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. In so far as the Trustees are aware: There is no relevant audit information of which the charitable tompanvs auditor is unaware. The Trustees have iaken all steps ihat ihey ought to have taken to make themselves aware of any relevant audit information and to establish that the auditor is aware of that information. This confirmation is given and should be interpreted in accordance with the provisions of s418 of the Companies Act 2006. This report wa5 approved and authorised for issue by the Board of Trustees on 4 June 2026 and signed on its behalf by- Mr Paul Davey, Chair of the Board ofTrustees Amref Health Africa UK 27 IndependentAuditor's Report to the Members of Amref Health Africa Oplnlon We have audited the financial statements of the Amref Health Africa Iihe '¢hJritable company'l foi the year ended 31 December 2025 which tomprise the statement of financial activities, the balance sheet, and statement of cash flows, the principal accounting policies and the notes to the financial statements. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards. including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland, Iunited Kingdom Generally Accepted Accounting Practice). In our opinion, the financial statements- • give a true and fair view of the state of the charitable CoMpan￿S affairs as at 31 December 2025 and of its income and expenditure for the year then ended: • have been properly prepared In accordance with Unlted Kingdom Generalty Accepted Accountlng Praclice; and * have been prepared in accordance with the requirements of the Companies Act 2CQ6. Basls for oplnlon We conducted our auillt in accordance with International Standards on Auditing IUKI IISAS IUKII and applicable law. Our responsibilities under those standards are further described in the auditor's responsibilities for the audit of the financial statements section of our report. We are independenl of the charf(able company in accordance with the ethical requirements that are relevant to our audit of the flnanclal statements In the UK, Including the FRCS Ethkal Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained 15 sufficient and appropriate to provide a basis for our opinion. Concluslons relatln8 to golng concem In auditing the financial Statements, we have Concluded that the tru5tee5' use of the going concern basis of accounting in the preparation of the financial statements is appropriate. Based on the work we have performed. we have not identified any material uncertainties relating to events or condilions that, individually or collectNely, may cast significant doubt on the charitable company's ability to continue a5 a going concern for a period of at le3st tWe￿e months from when the financial statements are authorised for issue. Our responsibilities and the responsibilities of thetrusteeswith respect to going concern are described in the relevant sertion5 of this report. Amref Health Africa UK 28 Other information The other information comprises the information included in the annual report, other than the financial statements and our auditorfs report thereon. The trustees are responsible for the other information contained wtthin the annual report. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicttty Staled in our report, we do not express any form of assurance conclusion thereon. Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsisteni with the financial statements or our knowledge obtained in the course of the audit or otherwise appears to be materially mi55tated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If. based on the work we have performed, we conclude that there is a material mi5staiement of this other information, we are required to report that fact. We have nothing to report in this regard. Oplnlons on other matters prexrlbed by the Companles Act 2006 In our opinion, based on the work undertaken in the course of the audit.. • the information given in the trustees, report. which is also the difectors, report for the purposes of company law, for the financial year for which the financial statements are prepared is consistent with the financial statements,. and • the trustees, report, which is also the dirertors, report for the purposes of company law, has been prepared in accordance with applicable legal requirements. Matters on whlch we are requlred to report by exceptlon In the light of the knowledge and understanding of the charitable tompany and its environment obtained in the course of the audit. we have not identified material misstatements in the trustees, report. We have nothing to report in respert of the followin8 matters in relation to which the Companies Act 2006 requires us to report to you if, in our opinion- • adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not ViSTted by us,. or • the financial statements are not in agreement with the accounting records and returns,. or certain disclosures of trustees, remuneration specified by law are not made. or we have not received all the information and explanations we require for our audit. or * the trustees were not entitled to prepare the financial statements in accordance with the small companies regime and take advantoge of the Small companies. exemptions in preparing the trvstee5' report and from the requirement to prepare a Strategic report. Amref Health Africa UK 29 Responsibilities of trustees As explained more fully in the trustees. responsibilities statement. the trustees (who are also the directors of the charitable company for the purposes of company lawl are responsible for the preparation of the tin3nci31 statements and for being satisfied that they give a true and fair view, and for Such internal control as the trustees determine 15 necessary to enable the preparation of financial Statements that are free from material misstatement, whether due to fraud or error. In preparing the financial statements. the trustees are responsible for assessing the charitable companqs ability to continue as a going concern, disclosin& as applicable, matters related to going concern and using the Boing concern ba515 of accounting unless the trustees either intend to liquidate the charitable company or to cease operations, or have no realistic alternative but to do so. Audltorfs responslbllltles for the audlt of the financlal statements Our objettives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement. whether due to fraud or error, and to issue an auditor's report that includes our opinion. Reasonable assurance is a high level of assurance. but is not a gtjarantee that an avdit conducted in accordance with ISAS IUKI will always deteth a material misstatement when it exi5t5. Misstatements can arise from fraud OT error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basls of these financial statements. Irregularilies, including fraud, Jre instances of non-compliance with laws ènd regulations. We design procedure5 in line with our responsibilities, outlined above, to detect material misslatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detectin8 irre8ularities. including fraud is detailed below.. How the oudit wos considered copoble oAdetecting irregulorities including Jroud Our approach to identifying and assessing the risks of material misstatement in respect of irre8ularities, includin8 fraud and non-compliance with laws and regulations, was as follows.. • the engagement partner ensured that the engagemenl team collectively had the appropriate competence, capabilities and skills to idenirfy or ￿¢0@n1$e non.compliance with applicable laws and re8vlations' • we identified the laws and regulations applicable to the charitable company through discussions with management, and from our commercial knowledge and experience of the sector; we focused on specific laws and regulations which we considered may have a direct material effect on the financial statements or the operations of the charitable company. including the Charities Act 2011. Companies Act 2006. employment legislation and safeguarding principles. we assessed the extent of compliance with the laws and regulations identified above through making enquiries of management and inspecting legal corre5pondence- and • identrfied laws and regulations were communicated within the audit team regularly and the team remained alert to instances of non-compliance throughout the audit. Amref Health Africa UK 30 We assessed the susceptibility of the companvs financial statements to material misstatement, including obtaining an understanding of how fraud might occur, by- making enquiries of management as to where they considered there was susceptibility to fraud. their knowledge of actual. suspected and alleged fraud. and considering the internal controls in place to mitigate risks of fraud and non-compliance with laws and regulation5. To address the risk of fraud through management bias and override of controls. we: • performed anatyiical procedure5 to identfy any unusual or unexpected relationships. • tested journal entries to identify unusual transactions- a55e55ed whether judgements and assumptions made in determinin8 the accounting estimates set out in the accounting policies (note lal were indicative of potential bias. and • used data analytics to identfy any significant or unusual transactions and Ident￿ the rationale for them. In response to the risk of irreBularities anil non-compliance with laws and regulatlons, we deslgned procedures which included, bLbt were not limited to.. agreeing financial statement disclosures to under￿1n& supporting documentation. • reading the minutes of trustee meetin85: • enquirin8 of management as to actual and potential liti8ation and claims,. and • reviewin8 any available correspondence with HMRC and the ¢ompan(s legal advisors (although none was noted as being received by ihe charitable companyl. There are inherent limitations in our audit procedures described above. The more removed that laws and regulations are from financial transaction5, the less likely it 15 that we would become aware of non-tompliance. Auditing siandards also limit the audii procedures required to identify non- compliance with laws and re8ulaiions to enquiry of ihe directors and other management and the inspection of regulatory and legal correspondence. if any. Material misstatements that arise due to fraud can be harder to detect than those that arise from error as they may involve deliberate concealment or collusion. A fvrther description of our responsibilrties is available on the Financial Reportin8 Council's website at www.frc.org.uklauditorsresponsibilities. This description forms part of our auditor's report. Amref Health Africa UK 31 Use of our report This report is made Sole￿ to the charitable company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2(K)6. Ouraudit work has been undertaken so that we might State to the charttable company's members those matters we are required to State to them in an auditor's report and for no other purpose. To the fullest extent permttted by law, we do not accept or assume responsibility to anyone other than the charitable tompany and the charitable company's members as a body, for our audrt work, for this report, or for the opinions we have formed. fjm:¥AU. (:p Hugh Swalnson (Senlor Statutory Auditor) For and on behalf of Buzzacott Audit LLP, Statutory Auditor 130 Wood Street London EC2V 6DL 05 June 2026 Amref Heatth Africa UK 32 Statsm•nt of financial activities lindLKling Ir￿ome and expenditure account) Year to 31 December 2025 202S 2024 Unreslri(knl Resincted fur fur￿5 fund funth Totsl Total Notes Income from: Donations and legaoes ChariiaNe Investments Olhef Ir￿me Totsl 1.186.477 1.016A56 116,406 817 2,419.686 781.2M 2.048.743 2.311.7S1 3.328.607 996,301 953,871 139,431 67.669 1.(63.970 3.959.087 4.912,958 139,431 817 3.071017 S,492,873 2.089,609 4.026.756 6.116,365 Expondllur• on.. Raising fvnds Chanlatle actMtN Totsl 1.06&188 1,204,382 2,260.270 6Wa94 1.711.982 3.416,064 4.620,436 4.072,148 6.332,41B 940,076 965,877 1.925,953 123.471 1.Ce3,547 4.562.298 5.Y8,175 4.685.769 6.611,722 Ngt Incom• I 1•x￿nd￿VreTr •nd net fflovqfflent In funds 169.2 19911311 1839.8 163,656 1659.0131 1495.3571 Tolal funds brwahl Total lund• c*nhd fonvar 1.523,536 15 1.682.822 3.250,3J7 4.773,873 2.261.206 3.934,028 1.359,680 1.523,536 3.909.350 5.269,230 3,250.337 4.773,873 All inwme and expendf¢ure derives from continuing activities. The 81alement of finanual actwities indudes all gains and losses recognised durlng the year. The notes on pages 41 to 50 f￿M part of these financial $latemenl$. Amref Health Africa UK 33 Balance sh8•t 31 December 2025 2025 2025 2024 2024 Notes Flxed ossets Tangible fixed assets 14.160 14.003 CuNtnt •s$ets Debto Current asset investrnents Short lenn deposts Cash at bank and in hand 285,777 100,1100 soo.000 3.515.065 4,400,842 331.949 500.000 4.777.178 5.609,127 Llzbllltles Creditor5. zmounts falliThJ due thin one year Net ¢urrent a8Ut8 1480,9741 1644.2571 3,919,868 4.964.870 Total a888ts less current Ibabllltlg• 3,934,028 4.978,873 c￿d￿Or$. amounts falliThJ due after MO￿ than one year 1205,0001 Not a#80ts 3,934,028 4.773.873 Fund* Un￿Stricted fund- general Unrestricted fund- designated Restricted ￿ndS Total lund• 15 15 15 1,282,822 400,IXIO 2.261.206 1.173.536 350.000 3.250.337 3.934,028 4.773.873 The financial statements were approved by the Tnjstees and authorised for i55ue on 4 June 2026 and signed on their behalf by.. Paul Oavey, Chair Company number. 00982544 The notes on pages 41 to 50 fomi part of Ihese fina￿la1 statements. Amref Heatth Afn"ca UK 34 Ststsment of ¢a$h flows Year to 31 December 2025 2026 2024 Note Net cash oufflow frorn opewating activities A I1.270￿39> 1883,3191 ¢a$h llowg from In¥estlny •¢tfvMles Inte￿$t inccyne Purchase of tsngible fixed assets IPurchasel I disposal of current 888et inveslments Purchase of $hort-temi deposits Net C35h Ilow provided from Inve$llng acOvlile• 116,406 17,9801 1100.0001 139,431 17,7121 500,000 1500.0001 131,719 8,426 Chang• In calh and ealh oqulvaltnts In thè y•ar 11,262,113> 1751.6001 Recon¢lllollon of n•t ¢••h Ilow to mov•ment In n•t fund8: Cash and ea•h •qul¥•lents at beglnnlng of y￿r 4,777,178 5,528,778 Cash and cash equSval8nts at end of year 3.616.066 4,777,178 A R•conclllatlon of net mov•mont In funds to not ¢gsh flow from oporatlng actlvltlos 202S 2024 Net movement in fvnds las per statement of finanoal activit￿8) AfJjustments for.. Dep￿￿atIon charge Interest Ineorn• Decrt8s• In deblOIS Decrease in rxeditors N•t cash u8•d In oper•tlng 1ctlvStSfr8 1839,8461 1495,3571 7,823 8.047 1116,4061 1139,4311 46.172 62,462 1368.2831 1319,0401 11,270,539> 1883,3191 B Analysis of Changes In net debt At1 January 2025 Cash flows At31 De¢ember 2025 Cash and ¢a$h equl¥¥lents Cash at bank and In hand 4,777,178 11,262,113) 3,515,065 BorroMryng• Debt due after one year Oebl due wthin one year 1205.0001 205.000 120S,0001 1205,0001 Totsl 4,572,178 11,262,113) 3,310,066 Amref Heatth Afn"ca UK 35 Principal accounting policias 31 December 2025 G•n•ral Infomiatlon and basls of prnparatlon Amref Heatth Afn'¢a is a company limrted by guarantee ￿gISte￿d in England. In the event of the charity being wound up. the liability in respect of the guarantee is limited to £10 per member of the charity. The address of the regislered office is given in the charity information on page 4 of these financial slatemenls. The nature of the charity's operations and principal activits'es are to engage, inspire, and influence people to invest in lasting healih change across Africa. The Charity constitutes a public benefft enlrty as defined by FRS 102. The financial stslements have been prepared in a¢¢ordan¢e A¢¢ounb'ng and Repo￿n9 by Charrties." Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland ICharrf(ies SORP IFRS 10211, the Charities Acl 2011 and the Compan￿5 Acl 2006 and UK Generally Accepted Practi¢e. The financial stslements a￿ prepare¢J on a going concem basis under the historical Cost c¢nvention, modified lo include certain items atfair value. The financial stslements are presented in sleding vknich is the functional currency of the charity. and rounded lo the nearest pound. The significant accountin9 policies applied in the preparation of these financiil 51alemenls are sel out below. These policies have been consistently applied lo all years presented unless otherwise stated. Crltical accounting èstlmates and areas of judgement Preparation of the financial stalemenls requires Ihe trustees and senior management lo make Significant judgements and estimates. The items in the financial stslements where these judgements and estimates have been made include.. the estsmatson of the usefvl economic lrfe oftangible fixed assets.. the estimation of the amount receivable in respect of legacies Whe￿ the charity has been notified of its entrtlement" the estsmation of the amounts recognised as donated goods or services as gift in kind income., and the basis on which the support costs a￿ allocated across the various categories ofcharrtable expenditure. Going concern The financial statements have been prepared on a going con¢em basis as the Trustees believe that no m*erial un¢ertainb"es exjst. The Trustees have considered the expected level of income and expenditure for 12 months from authorising these finanaal statements. The projected income and expenditure is sufficient wilh the level of ￿serveS for the charity to be able lo Continue as a going Concern. Amref Health Ath"ca UK 36 Principal accounting policias 31 December 2025 Incomo ro¢¢gnltlon All income is included in the Ststement of Financial Activities ISOFAI when the ¢harty is legally entitled to the income after any perfomance conditions have been met. the amount can be measured reliabty and it is probable that the income will be received. Donations and legacies For donations lo be recognised the chanty wll have been nots.fied of the amounts and the settlement dale in vmting. If there a￿ condrtions attache¢Y lo the donation and this ￿qUireS a level of performance before enliuement can be obtsined then income is deferred until those conditions are fully met or the fvthlment of those conditsons is wthin the control of the charity and it 1$ probable that they wll be fulfilled. For legacies, income is recognised upon receipt, or before receipt if there is sufficient evi¢Jen¢e to provide the necessary ¢ertainty that the legacy wll be received and the value of the In￿Me can be measured wlh $uffi¢ienl certainty. Gllts In Klnd Donated facilities and donated professional services (Gifts in Kindl which the Charty would otherwise have purchasefj are recognised in income al their fair value when their e¢onomic benefit 1$ probable, rt be measured reliabty and the Charity has control over the item. Fair value is determined on the basis of the value of the gift to the chanty,. that is the amount the charity would be willing to pay in Ihe open market for the equivalent beneft of such facilities and services. A corresponding amount is recognised in expenditure. A threshold of £500 is applied for each facility or service. No amount is inclLKled in the financial ststements for volunteer lime in line wth the Charities SORP IFRS 1021. Chantable actlvities Income from chantable activities indudes income eamed both from the supply of goods and services under conlraclval arrangements and from perfomanee-relaled grants which have c¢ndilions that specify the provision of particular goods or services lo be provided by the charity. The contracts or perfomiance-related grants have been induded a$ 'lnwme from ¢haritable ath'vities. where these contracts or grants specrfically ouuine the goods and services to be provided to the comMun￿eS we partner which are wthin the charrtable purposes of the charity. For perfOrMance-￿I8ted grants. Whe￿ there a￿ no don¢y-imposed condrtions le.g. in respect of fee-related measurable outputs or the lime peri￿j over whi¢h expendrture of resources can take place) or if there is sufficient P￿cedent for the charity lo assume that the funder in question Is likely to approve the reallocation of any unspentlunds, income is recognised upon receipt. W)ere performance conditions induding lime-related conditions exist, income from such grants is recognised when the charity deems the entitlement criteria is satisfied, which is typically based on the extent of confirmed programme delivery. As such, expenditure incurred to date is seen to be the m05t reasonable e5ts.mate or approximation of the charity'5 performance and therefore income entitlement. In this case, cash received in excess of expenditure is included as a creditor (deferred income) and expendrture in exce55 of cash Teceived is included a5 a debtor las acctued income). Amref Health Ath"ca UK 37 Principal accounting policias 31 December 2025 Incomo ro¢¢gnltlon Iconlinuedl The charty receives government contract income in respect of rts charitable work. Due to ils nature, this income is dassified as unrestricted and is subject to VAT. There are payment-by- results elements within the contract Contract income is only recognised when the charity has entitlement and the payment-by4esulis related income is onty recognised once the specrfic criteria have been met and approved as such by the funder. rradlng •¢tlvlUes Income from trading activibes ￿lateS to income eamed from trading activities lo raise funds for the charity. Income is received in exchange for supplying goods and servi¢es in order to raise funds and is recognised when entiUement has occurred. Otherlncome Other unrestricted income includes gains arising from fOre￿n exchange transactions which do not relate lo reslricte(l fvnds. Any material unrealised foreign exchange gains are included below nel income and realiseil gains are inclu(Jed wthin other income. Expenditure recognltlon Expenditure is accounted for on an accruals basis with the exception of expenditure transactions below £500. Expenditure has been classrfied under headings that aggregate all costs related to the Category. Expendrture is recognised ￿ere there 1$ a legal or conslruclive obligats'on lo make payments lo third parties. rt is probable Ihat the setuemenl wll be required and the amount of the obligatson can be measured reliably.11 is categorised under the followng headings., Costs of raising funds includesthose costs incurred in Seeking potential funders and applying for funding, as well as production and media eosls related lo digital and DR TV adverts. Expenditure ¢)n chariiable activities includes granling fvnds lo Amref HQ in respect of our harilable work, and our ¢)wn a$s￿late¢j ¢osls. ￿ere there 1$ $ufficienl precedent for the charity to assume that the funder in question is likely to approve the reallocation of any unspent funds, grant expendrture is recognised upon payment. Where this precedent does not exist, grant expenditure 1$ Ter￿gnISed once the transferred funds have been Spent on the Specified programme. Irrecoverable VAT is charged as an expense against the aclivity for which expenditure arose. Support costs allocation Support costs are those that assist the ￿rk of the charity but do not directly represent charitable activities and include office costs, govemance costs and admini51ralive costs. They are incurred directty in support of expen￿rtU￿ on the objeds of the charity. ￿ere support costs cannot be directty attribute(I to parb'cular headings they have been allocated to Costs of Raising Funds and Expenditure on Charitable Activities on a basis consistent with use of the resources. Overheads have been allocated on the basis of slaff time. The analysis of these ¢osts is induded in note 4. Funds Unrestricted funds are av8i18ble for use at the discretion of the Trustees in furtherance of the general objective5 of the tharity arbd which have not been designated for other purposes. Amref Health Ath"ca UK 38 Principal accounting policias 31 December 2025 Designated fvnds comprise Un￿Stricted funds that have been sel aside by the Trustees for parb'cular purposes. The aim and use of each design*ed fund is sel out in the notes lo the financial stslements. Reslncted funds are funds which are lo be used in accord8nce wrth specific re5tn"clion5 Imposed by donors or which have been raised by the charity for particular purposes. A summary of restricted funds by geographical area is sel out in the notes to the financial slalemenls. Transfers be￿en funds take place in accordance with funding agreements or with the express permission of the funder. Tanglblo fixed a$s•ts Tangible fixed assets costing less than £SOO are not capitalised and afe written off in the year of purchase. Tangible fixed assets vthich are capitslised ace sl*ed al cost lor deemed costl or valuation le$s accumulated depreciation and accumul*ed impairment losses. Cost includes ¢gs1$ directty attrIb￿ta￿e lo makin9 the a$$el Capable of opwating a$ intended. Depreciation is provided on all tangible fixed assets. al rates Calculated lo wnle off the cost, less eslimaled residual value, of each assel on a syslemabc basis over tts expected useftjl life which for equipment and computers is three years. Debtors Debtors are recognised al the settlement amount, less any provision for non-recoverabilily. Prepayments are valued at the amount prepaid. Current 4$$01 Investments Current asset investments are held at fair value with movements recognised in the Statement of Financial Activrties ISOFA}. Any cash investment wth a maturity of be￿een three months and one year since inception 1$ Classified as a ¢urrenl asset investmenl. Short temi deposlts Any cash investment a maturity dale of more than three months but less than a year since inception is dassified as a short temi depo$rt. Cash at bank and in hand Cash at bank and in hand Includes cash and short term highly liquid investments wth a short maturity of three months or le55 from the dale of acquisition or opening of the deposit or similar account. Liabilitios and provisions Liabilities are recognised when there is an obligation at the balance sheet date as a result of pa51 event, rt is probable that a transfer of economic benefrt wll be required in settlement, and the amount of the settlement can be esb"maled ￿liablY. Liabilities are recognised al the amtsunt that the charty anticipates il wll pay lo settle the debt or the amount il has recewed as advanced payments for the goods or service5 rt must provide. Foreign currency Foreign currency transactions are inrtialty recognised using the monthly exchange rate. Amref Health Ath"ca UK 39 Principal accounting policias 31 December 2025 Monetsry assets and liabilib.es denominate(l in a foreign currency at the balance sheet dale are translated using the Closing rate. Gains and k)sses on exchange are allocated to the appropriate resource. Employee benefits Vvhen employees have rendered service to the charity, short-lem employee benefits lo which the employees a￿ enlilled are recognised at the undiscounted amount expected lo be paid In exchange for that seryice. The charity operates a defined contribution plan for the benefil of its employees. Contributions are expensed as they become payable. Tax The charity is considereil lo pass the tests set out in Paragraph 1 Schedule 6 Finance Act 2010 and therefore il meets the definrtion of a ¢haritable ¢ompany for UK corporation lax purpo$e$.11 therefore does not $Lbffer tax on Inco￿ 01 gains applied for ¢harrtable purposes. Flnanclal In$trum¢nts The charity onty holds basic Financial Instruments. The financial assets and financial liabilities of the charity and their measurement basis are as follows". Flnanclal asseis - trade and other deblors (including accrued legacy and gift aid income) are basic financial instruments and are debt Instruments measured at amortised cost as detailed in note 9. Prepayments are not financial inslrumenls. Amounts due from Amref HQ are held al face value le$$ any impairment. Cash at bank- is cla$$tfied as a basic financial inslrument and 1$ measured al face value. Flnancial liabS1StSes- trade ¢redrtors, accruals and other creditors are financial instruments, and are measured at amortised cost as detailed in note 10. Taxation and social security are not included in the financial instruments diSdosu￿. Deferred income is not deemed lo be a financial liability. as the cash settlement has al￿adY tsken place and the￿ is an obligation lo deliver charitable serwces rather than cash or anolher financial instrument. Amounts due to Amref Ha are held at fa¢e value less any impaim)enl. Amref Health Ath"ca UK 40 Notes to the financial ststements Year to 31 December 2025 1. Income froffl donations and lega¢ies Unrestricled Restricted fund$ fund$ 2026 Total Individual sponsor5hipleventdonations Individual donors Legaoes Corporate dono Trusts and Foundations Am￿f HQ Oonated serv 20.031 427.787 53.325 154,868 599.466 98.587 11.327 118.618 439.114 53,325 154,868 606,600 644,218 30.000 2,046,743 7,134 644.218 30.(XM) 1,285.477 761,266 Unreslrict&l Rgstiic18d funds runrjs 2024 Tot81 Indiv￿￿01$p￿s￿IUfvntthYnet￿$ Indiwdual¢knors Legacies Corpotsl• donors T￿$t$ F(wnd8tK￿s AmrefHQ Don81gd 15, T20 362. 167 28,846 2.454 586,293 15.720 369, 194 30.708 2,454 597,293 53.780 821 1.063.970 7.027 1.862 5,000 53, T80 821 996.301 6T,669 2. In¢om• from ¢horltsblg a¢llvllS0$ Unre¥tricted Restritsd fijnds funds 2026 Total Corporats• GlaxoSrnilhKline Viiv Healthcare Total Corpowats• 89.0￿) 1.598.587 5,509 1.604.096 1.687.S87 S,509 1,693,096 89,000 Governments FCDO Total Govemments 927,856 927,856 927,856 927,866 Tru$lg ond Foundaoons The Rabelais Trust Global Heatth Partnershi SOL Foundation Al Basma FouTh4ation Other Trusts < E15k Totsl Trusts & Foundations 368,445 164,637 86.404 85.169 3,ODO 707,655 368,445 164,637 86.404 8S.169 3,000 707,655 1.016.856 2.311.751 3.328.807 Amref Heath Africa UK 41 Notes to the financial ststements Year to 31 December 2025 2. Income froffl charitable a¢tiviiies (continued) un￿sInct￿l R8Stiict8d funds lunds 2024 Total CO￿*r&te8 GlaxoSmJthKline Viiv HeaRhca Total CoTroTrt&s 30.847 2,000,000 28,606 2,028,806 2.030.847 28.806 2,059.653 30,847 Governments FCDO 923.024 923,024 923.024 923.024 Total Govemmonts Trusts and Found•th% L)onor wshing to remain anonymous The SOL Foundation The Ratela15 Trust People's Poslcode Lottery Other Trusts < £15k Total Tmsts and Foundathw 1,386,024 260,974 173,309 94,811 15,223 1,930,281 1,386,024 260.914 173,309 94.811 15.223 1,930,281 953.871 3,959,087 4.912.958 3. Expendltur• Raising ndg Charita￿8 adivities 2025 Total Slaff costs 01￿ct ￿$t9 Support Costs 622,071 9S9,￿7 130.004 1.711,982 503.999 4.017.206 99.231 4.620.438 1.128,070 4,977,113 229,235 6.332,418 Raisir lunds Chant8b18 &ctivilOS 2024 Tot81 Staff costs D1￿ctc0St5 Supry)rt costs 518.988 441,219 103.340 1.(163.547 448,647 5,015,657 83,871 5,548, 175 967,835 5.456,876 187.211 6.617.722 DI￿¢t costs of chantsble aclivrties a￿ P￿doMInantIY made up of grants remitted lo Amref HQ for core objectives. In 2025. these amounted to £3.888,74712024". £4.936.0801. Amref Heath Africa UK Notes to the financial ststements Year to 31 December 2025 4. Support costs allocation Raising Chantal￿e funds activities 2026 Total Premises costs GovemanrE costs Other office and operabonal o)sts Total 28.458 53,147 48,399 130.(J)4 21,722 40.566 36.943 99.231 $0.180 93.713 8S.342 229,235 Raising Chantablo funds aetivilos 2024 Total Pr¥misès costs Gov8m8nc8 cosls Other0)f￿& 8nd opeTrts￿I8lCQSts Total 28,838 f6,415 58.087 103.340 23,405 13,323 47, 143 83,871 52,243 29.738 105,230 187,211 S. Govemanco costs 2026 2024 Auditorfs ￿m￿neratiOn- current pen￿j audit lee Legal Fees Trustee reuuth)ent & skilh analysis" other eosts 18.830 39,962 30,000 5,131 93.713 17,940 6.000 5.798 29,738 'In 2025. this related to a Board Effectiveness Review undertaken as a donated service at nil co$1 lo Amref UK. £nil was incurred by the charity for Trustees expenses incurred on the ¢harily'$ business during the year12024." £307 for one Tru5tee}. 6. Stsff costs and numbeys The aggregate payroll costs comprise(I". 2026 2024 Wages and salarie5 Soaal security rA)sts Employerfs pension ¢))sts Other stsff o)sts 927,498 109,166 68.556 20,850 1,126,070 814.508 85,435 57.243 10,449 967.635 Amref Heath Africa UK Notes to the financial ststements Year to 31 December 2025 6. Staff costs and numbors (continued) Average number of staff during the year by fijnction.. 2025 2024 Headcount FTE Headcount FTE Fundrai&ng Programmes Governan￿ and a¢kninistrats'¥e surwrt 18 15.9 The employee benefits for key management personnel. who are detailed on page 3, lincluding employeT'S Nab"onal Insurance costs and pensions contn"bulionsl were £418,481 12024. £381,386). In the year endeil 31 December 2025, there y￿re the followng number of employees wlh remunerabon in excess of £60,000.. 2026 No. 2024 No. £60,fJ)1 . £70.000 £70,001- £80.000 £80,001- È90.000 £100,001- £110.0(KI £110.001- £120.OCQ During the year. no Trustee received any remuneralion12024". none). 7. Net lexpenditur*l In¢om• Is slated after charging.. 2026 2024 Auéitols remunerabon". Current year audit fee linduding VATI Non-audit fees- taxation advK* I1￿￿ding VATI DeprerAation of fixed assels Lease ￿nts1$ 18.830 7,398 7,823 17.940 4.740 8.047 8.041 Amref Heath Africa UK Notes to the financial ststements Year to 31 December 2025 8. Flxod a$$ots Equipment and etsmpute Costs As al 1 January 2025 Additions Disposals As at 31 De￿rnber 2025 41.296 7.980 113.072 36,203 Depre¢lalon As ai 1 January 2025 Charge during year Disposals As al 31 D￿mber 2025 27,292 7,823 113,072 22,043 Net book value A$ al 1 January 2025 As al 31 December 2025 14,003 14,160 9. DebtorJ 2026 2024 Trade debtor Acwed income Prepayments and other¢Jebtor8 Amounts due from Amref HQ 63.019 163,721 49,633 9,404 285,777 104.064 165.522 26,093 36,270 331.949 10.a Credltors: amounts falling duo within one year 2026 2024 Trade credrto Taxation and soaal security Amounts due to Amref HQ Acwals and other credrtors Deferred ino)me Loan from Am￿f NL 2,116 52.050 56.987 65,789 99,063 205,000 480.974 68.312 312.046 50.541 213.358 644.257 Dofornd ineomo Balan￿ brought fowdrrl as at 1 January 2025 Re￿ased In the year InccKne received and deferred in the year Balan¢e carried forwanl as at 31 December 2025 213,368 649.814 1213,3S81 1525.8601 99,OS3 89.404 99,053 213.358 Deferred income Telates lo grant income re￿1Ve￿ before the year*nd for programme delivery in 2026 and beyond. Amref Heath Africa UK Notes to the financial ststements Year to 31 December 2025 10.b Cr8ditors: amounts falling due after more than ono year 2026 2024 Loan Irom Amref NL. 205.000 205,000 his loan is inlere$t-Iree and is due for ￿paYment on 31 March 2026. The loan is lo be used exclusivety for pre-financing the delivery of the"Support to the African Led Movement lo End FGWC" programme. The loan was repaid and setwed in fvll in Mar¢h 2026. 11. Reconclliation of funds Unrestrthl General Designated funds funds Restricted funds 2025 Analys18 ol r•80Th¢• Tangible fixed as5els Nel current assets 14.160 1.268,662 1.282,822 14,160 3.919.868 3,934,028 4CK).fy)O 2.251.206 400.000 2.251.206 Unrnslnci Genarni D8swn4ted funds lunds Rèst17CtOLY lunds 2024 An81ysis 0f￿ServeS Tangible lixed awls Net cunpnl ass8ls C￿ditOrS olm(Yg Ihan one y68r f4.003 1.364.533 (205.000) 1. 173.536 14.003 4,964,870 1205,0001 4.773.873 350,l￿ 3,250,337 350.000 3.250.337 During the period, our reserves calculations were updated in line with our policy as detailed in the Trustees, ￿PorL The dosing level of unreslricled free reserves is within tsrgel range. £400.000 of ￿n￿strided funds has been ringfenced wlhin a designated fund as al 31 December 2025 to ensure suffi￿ent fvnds are available for the Individual Giving investment in future years. Further information is provided in the Trustees. Annual Report. The closing level of restricted ￿serveS reflects the liming of grant receipts cOMpa￿d lo their disbursement to Amref HQ in Nairobi. Amref Heath Africa UK Notes to the financial ststements Year to 31 December 2025 12. Capital and financial commitments At 31 December 2025. the chartty Commrtted to subscribe to a London Marathon Golden Bond during the next year at £1.920 per annum including VAT12024." £2.2201. At 31 December 2025 the Charity nofvture minimum lease payments under non-cancellable operating leases. A license to occupy agreementfor shared office space has been in effect from 1 March 2023 17-14 Great Dover Street, London, SE14YR up to 31 October 2024 and Canopi, 82 Tanner Street, London, SE1 3GN from 1 November 20241. The license agreement can be terminated wrth three months Wr￿en notice and the license fee is lo be reviewed on an annual basis. This arrangement 15 therefore not considered lo con51ilute an operating lease. The printer lease was terminated in October 2024 and paid off in full upon leminalion. Lease payments of £nil12024." £8.0411 have been recognised as an expense in 2025. There are no contingent liabilrties al the end of December 2025. 13. Llablllty ol Mèmbarn Al 31 December 2025 the charity had 9 members12024. 9 membersl. The liability of each member lo conlnbute to the assets ol the charity in the event of wnding up is limited lo £10. The members are consliluted solety of Trustees and all Trustees are members. 14. R•lat•d party transactlons al Amrel Health Afri¢a I"Amref UK") is a national office of the Amref global netr￿rk, Coordinated through a ¢ompany of the same name based in Nairobi, Kenya I"Amref HQ l. The arrangement betsveen the Iwo organisalions, and the responsibilities of both organisalions, is summarised in a written Association Ag￿ement signed by both parties. This does not supersede the ￿Spe¢￿Ve autonomy of each organisation. Paul Davey, Chair of AJnref UK. also sits on the Amref HQ Board of Trustees. In 2025. Amref UK received £644.21812024 £53.7801 of grant funding from Amref HQ lo support grovAh in individual giving fundraising. This is recognised wrthin Donations & Legacies. The transactions with Amref HQ We￿ as follovts". 2026 2024 Net balan￿$ due frcyn AM￿fUK at the start ofthe year Grants and other payments payable Irom Arn￿[ UK to Arn￿ HQ in the year Net payments made frun NJnrel UK to Amref HQ Net balan￿$ due from Amref UK at the end ofthe year 1275,7761 1152.3811 13,660,534) 14,936.0801 3,888,747 4,812,685 147.5831 1275.7761 Amref Heath Africa UK 47 Notes to the financial ststements Year to 31 December 2025 14. Related party tr4nsa¢llon$ I￿ntinued) bl In 2021, Amref UK received a loan of £205.000 from Amref NL. The loan 15 on an inlere5t- free basis and is for a 5-year peii¢xl. payable by 31 March 2026. The loan atrangemenl is in place to support Amief UK'S management of unreslrieted Cashflow in light of the pre- financing ￿qUirements of the contract funijing by FCDO. The ltsan was repaid and settled in full in March 2026. cl Ouring the year, £10,500 (2024.. £7,500} of don8ts.ons were received from Worfdwide Peoplè for People. a charity registered in England & Wales. The Woddwde People for People Board is composed of ￿ presenlative from the charities Pa￿¢1pating in ts payroll giving scheme. As such. Matt Wenham. DI￿￿or of Fundraising of Amref UK joined the Board of Woddwide People for People as a Trvslee & D1￿Clor in February 2024. dl During the year, Amref UK held an All Staff meeting5 al the offices of Clifford Chance LLP al nil cost. This support was valued at £494 which fell below the £500 threshold for recognition as set OLrt in the Accounting Policies12024." £821 I. Jennifer Chimanga, Trustee of Amref UK, is also a Partner at Clfftjrd Chance LLP. el Donations from related parties £12,954 of donations were recorded from 9 Key Management Personnel, Trustees and their connected enlilie5 in the year1£2.490 from 10 Trustees and KMP in 20241. Amref Heath Africa UK Notes to the financial ststements Year to 31 December 2025 15. Funds The income of the charity includes both restn.cted and unrestn.cled fvnds. The table below summarises the fvnds balances held * 31 December 2025. 31 D8c•mb8r 2025" 1 January 2025 Incom Expenditur8 Transfers."" Restrictsd Amref Ha & Region81 work Eth￿p1a Kenya Malawi Tanzania South Afrra South Sudan Uganda UK office." Zambia 2,003.349 1,503.148 5,509 655,273 164,637 11.798,997 15.5091 1468,2051 1164,6371 12fj5.3181 11,654 1,719,154 14.155 111,8541 189,569 303.813 3B,495 133 85.169 3,750 654,W6 492 3.073.017 185,169 1628,246 1655,4421 14921 14,072,1481 923.231 5,789 298,736 S.253 3.250.337 2,251,206 Unr••tri¢t•d General Designated" 1.173.5 350.000 1.523.536 2,419,556 12.076,243 1184,0271 12,260,2701 1234,0271 234.027 1,282,822 400,000 1,682,822 2,419,556 Totsl 4.773.873 5,492,573 16,332,4181 3,934,028 Detsilg oflhe programmes delivered in the year under our four thematic areas can be found in the table on page 9 of the Trustees. Annual Reptsrt. 'Wilh the exception of UK office restn.cted funds. the reslricled fund balances held reflect the timing ol grant re¢eipt$ compared to their disbursement to Amref HQ in Nairobi. The sizeable balances held particularly pertaining to Amref HQ & Regional work, relate to programmes where funds were received and recognised before 31 December 2025 which are to be spent in the followng year. 'Yhe UK office reslricled fvnds relate to donor-reslricled fvnding for investment in Amref UK infraslrudure and fvndraising capacity. This in¢ludes bul is not limited lo the grant funding from Amref HQ to support growth in individual giving fundraising. Designated Fund relates lo the Indwidual Giving Growth Designated Fund IIGGDFI created in 2023 to support planned investment in individual giving acqui511ion. The planned investment peri(Kl runs to 2030 and will be fvndeil from the IGGDF once the current grant funding arrangement from Amref HQ con￿$ lo an entl in 2028. **** The transfer of funds wthin restricted funds relales to an agreement reached with GSK lo reassign and repurpose some funding received in pievious financial years foi the TB & Malaria programme in Kenya to support a Regional programme on Anli-microbial Resistsnce IAMRI. Amref Heath Africa UK 49 Notes to the financial ststements Year to 31 December 2025 15. Funds Iconlinuedl 31 Decemb&r 2024" l J8nv&ry 2024 ExpeRthÈu Trnnsfe Amr&fHQ & Regwal*vrt( 2.049.914 174 335 11.655 557.162 1.1)55 495 .789 2.tw,(￿ P,049,5551 28.806 (2C13.1411 5rfT.537 (545.0371 381TJ8 (647.0871 I.￿2.283 (t. 134.5491 58.780 (1ts3.780) 2.610 12.61Ql 4.026. T56 {4.685.7691 2,003.349 Kenya Tanzan Ug8nd8 UKollLe Z8mts8 303,813 923.231 5.789 3.￿9.250 3.250.337 G6neral D6siin8t&S" 1.159.8 2.089.fjLY& (1.725.95TI {t99.9961 2.089.tXY4 (1.925.953) 1349.9961 349,996 1. 173.S36 350.000 1.523 1.359 880 T￿{ S.￿.2)tr 6.116.365 16.611.7221 4, TT3.87J Thg r8slrKled fund balances held rene¢1 Ihe timing of granl re¢eipls ¢ompargd lo Ih&ir disbvrsgmenl lo AmrelHQ in Nairobi. The sizeable balancgs hgldpartioulartypertaining to AmrelHQ & Reg￿nal wort( and Uganda, related lo progTrmmes where funds We￿ receiv8d 8ndrecognisedjust befo￿ 31 D8c&mb&r 2024 whKh were lo be spent in the following ye8r. Designated Fund rnlales lo Ihe Ind￿￿Ual Gwmg Gmwth DeS￿naled Fund (IGGDF? cTral8d in 2023 lo supportplanned investmenl m 1ndN￿U01 gwing acquisition. 16. Support to th8 Afrlcanlod Movement to End F•malo Gonllal Mutllatlon I Cuttlng IFGMICI fundod by UK Govemmont {FCt)o) In accordance with the contract between Amref UK and Options Consultancy Services Ltd for the Support lo the African-Led Movement to End Female Genilal MLrtilation I Cutting {FGMlCI programme funded by the UK Govemmenl {FCDOI, the folltswing note has been include