2025-12-31-accounts

THE CHARTERED INSTITUTION OF BUILDING SERVICES ENGINEERS

ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025

Charity No. 278104

THE CHARTERED INStITUTION OF BUILDING SERVICES ENGINEERS ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER2025 CONTENTS Page Trustees. Report 53 Members of Board and Council 56 Financial Review 62 Auditor's Report 66 Consolidated Statement of Financial Activities 67 Consolidated and Institution Balance Sheets 68 Consolidated Statement of Cash Flow 69 Note$ forming part of the Consolidated Financial Statements

THE CHARTERED INStITUTION OF BUILDING SERVICES ENGINEERS ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER2025 Trustees Report CIBSE Manifesto CIBSE is the home of a global community. providing world class leadership, guidance and support for best practice building performance. building engineering. net zero. safety. health and wellbeing. We strive to be the most progressive and dynamic member-driven organigation and remain a trusted leader and voice in the industry. Ourgoalg Educate through best practice and expert advice, promoting the highest $tandard$ of professionalism. Collaborate with industry and govemment to develop multidi$ciplingry thinking. Inspire through thought leadership. profile and technical guidance. Antlclpate the future needs of people. buildings and spaces. Our values We18ad We are a trusted authority on the present and future challenges facing the built environment.. we use our collective expertise and influence to champion the best and most innovative Solutions with rigour and integrity. We empower We give people knowledge, training and networking and a pathwayto professional registration so their work will have 8 meaningful impact. We champion We are vocal and visible in our drive to improve the performance. safety, health and sustainability of the built environment. and we support and celebrate the talented people who make it happen. We inspire We are pasgionate about the quality of the built environment, and we encourage committed people, from every background. to join our community.

THE CHARTERED INStITUTION OF BUILDING SERVICES ENGINEERS ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER2025 President's message It has been an honour to serve CIBSE as President in what has been another exceptional year for the Institution, one which has seen record membership growth, strong financial performance and an expanding international presence. These achievement9, amid a challenging eeonomie climate. reinforce CIBSE'S standing as a leading international in9titution. It 19 through this growth, both economically, and through our membership, that CIBSE ean meet its commitment to providing world class leadership, guidance and support. That commitment is set out in the CIBSE Manifesto and five-year Strategy. published in 2025. The 2025-2030 strategy outlines a clear pathway to help our members thrive in an increasingly complex and changing world, while ensuring the built environment deliver9 better outcomes for society. Our priorities- supporting our global community, championing the profession. Providing outstanding technical leadership. and engineering the future- sit at the heart of everything we do guiding our future direction. Supporting the global community In my President's Address, I reflected on the impact each of us can have by giving our time to share knowledge and skills. My Presidential Theme. paying it Forward. speaks to what first drew me to engineering. Engineers exist to solve problems and tackle ehallenges that test us daily, while making buildings safer. more eff￿lent and more comfortable for those who use them. Across the World, our network of volunteers embodies this ethos. mentoring young engineers, sharing best practice and addressing industry-wide challenges. In doing so, we shape the future of our profession and Support the global community. In 2025, CIBSE strengthened its commitment to reaching and connecting memberg acr099 all regions. Every CIBSE Region experienced growth in 2025. with the Australia and New Zealand IANZI Region enjoying the largest growth. with membership up by 13%. During my visit to CIBSE MENA with CEO Ruth Carter in October. we met with industry leaders, policymakers and members, and signed Memoranda of Understanding with four organisations to support the accreditation of their graduate training and development schemes. These agreements will significantly enhance collaboration and professional development within the region. The visit also provided an opportunity to celebrate excellence at the inaugural CIBSE MENA Awards. The pride and recognition among winners and shortlisted organisations was evident. reflecting the outstanding work taking place across the region. I was fortunate to

THE CHARTERED INStITUTION OF BUILDING SERVICES ENGINEERS ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER2025 visit one of the winning projects, the Desert Rock Resort in Saudi Arabia. and see this innovative development first-hand. Our shared identity as engineers transcends borders. and this global community is one of CIBSE'S greatest strengths. As such. it was a pleasure to welcome representatives from acro$$ our Regions to the President's Award$ Dinner in October. Members joined us from Hong Kong, MENA, Ireland, Australia and New Zealand and acrogs the UK to celebrate volunteer contributions and the power of collaboration. Alongside Tegional visits. it has been equally rewarding to welcome international delegations to OUT new headquarters. Having a modern, central London base has strengthened our ability to collaborate globally. One notable example was the visit from the Shanghai Association of Science and Technology. who travelled to the UK Specifically to meet with CIBSE. Champloning the profegsion CIBSE'S awardg play an important role championing and raising the profile of our profegsion. showcasing our work and celebrating the achievements across the industry. The launch of the new 30 Under 30 Awards highlighted emerging leaders who are already serving as inspiring role models. The 30 individuals demonstrated remarkable ambition, dedication and in9ight and each will be a valuable ambassador for the industry. In 2025, we also celebrated the 30th anniversary of the Young Engineers Awards. Fittingly, this milestone year was the most successful in the event's history. with record entries from apprentices, undergraduates and graduates. The awards also recognised employers who go above and beyond to mentor and support their teams. ensuring the next generation can reach its full potential. Globally. the achievements of our young engineering community have been celebrated through initiatives $ueh as the CIBSE MENA Student Award and the ANZ Young Engineers Award5. The commitment of our Young Engineerg Network to promoting the industry was also on show at the Global YEN Dinner. Hosted by CIBSE Scotland. the Dinner brought together representatives from across the world. Their dedication to promoting CIBSE and OUT profession is inspiring, and it was a pleasure to recognise several ir)dividuals with Presidential Commendations for their outstanding contributions. Outstanding technical professionalism As engineers, we must continually refresh our knowledge and remain current with regulations, $tandards and emerging teehnologie$. Lifelong learning underpin$ our ability to

THE CHARTERED INStITUTION OF BUILDING SERVICES ENGINEERS ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER2025 solve problems responsibly and effectively. CIBSE'S conferences, training programmes, webinars, regional technical events and CPD Directory are Central to supporting this professional development. The CPD Directory. listing organisations whose presentations have been reviewed and approved by the CPD Panel, grew Significantly in ?025. with 285 Companies now offering CIBSE-approved CPD, the highest number to date. CIBSE'S training provision has also continued to expand. In 2025, 15 new courses were launched. and nine new trainers joined the programme. A total of 2.299 individuals undertook CI8SE training, with courses on the Building Safety Act and heat networks among the most popular. Engineering the future CI8SE's world-class technical knowledge strengthens the profession's role in delivering healthier, more resilient environments. In 2025 thi$ technical output continued to attract global attention. In 2025, CIBSE published a range of high-quality. peer-reviewed guidance. including Guide D.. rransportstion Systems in Buildings. published to coincide with the launch of the new CIBSE Soeiety of Vertical Transportation. This new Society provides formal professional recognition for thoge working in thig specialist field. CIBSE also hosted the first major industry conference dedicated to the UK Net Zero Carbon Buildings Standard. following its pilot phase. The conference shared early lesson5 from pilot projects, alongside case studies and technical session3 covering energy use. embodied carbon and verification. Across the globe. CIBSE delivered a wide range of other conferences and events in 2025. The annual Technical Symposiums in the UK and Hong Kong brought a vagt array of technically detailed eontent to our members, introducing new technologies, proee$$e$ and research. There was also an inaugural CIBSE Decarbonisation Conference in Dubai, and a new UK conference focused on facilities management. This latter event reinforced the importance of effective building handover to ensure that design intent and performance outcomes are realised and maintained throughout a building's life. The release of the new CIBSE weather files in July was anothervital tool to support professionals in the design of future building projects. The files provide engineers, designers and researchers with the data needed to assess energy use and overheating risk with accuracy and geographical precision. This evidence is being shared with policymakers and certification bodies to inform building regulations. and other performance standards. The accompanying Weather Data Selection Tool has already attr8¢ted around 1,500 users.

THE CHARTERED INStITUTION OF BUILDING SERVICES ENGINEERS ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER2025 Our community Linking back to my Presidential Theme. I want to conclude by highlighting our volunteers. Conservatively estimated at more than 2.000 worldwide. without them. we could not deliver on our Manifesto commitment$. Every member has the opportunity to Contribute. whether through regional teams, Group9 and Societies. Council or Board. and each of us represent CIBSE in our daily work. Through collective effort. we amplify CIBSE'S voice. raise our profile and strengthen the wider building services community. It has been a privilege to meet so many dedicated individuals throughout the year. Our strength lies in our Shared passion for improvement, our drive for global profegsionalism and our unwavering pursuit of excellence in the gector. My sincere thanks go to all CIBSE volunteers. members and staff. whose dedication and hard work underpin the worldclass initiatives and aetivities that make CIBSE the outgtanding global organisation it is today.

THE CHARTERED INStITUTION OF BUILDING SERVICES ENGINEERS ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER2025 Chief Executive Officer's message 2025 was another exceptional year for CIBSE. with membership numbers and revenues reaching record levels. This continued growth enables us to reinvest more in world-class knowledge, authoritative guidanee and enhaneed member suppor¢ ensuring we meet the full breadth of our members. needs. Membership rose to its highest-ever level, with more than 23,000 members acTOSS 100 countries. positioning CIBSE. yet again, as one of the fastest-growing professional engineering institutions in the world. Aero$$ our Regions, more events were delivered than ever before, reflecting an increased focus on gUPF)Orting memberg worldwide. By consciously investing time and attention across the globe. we have strengthened networks and built deeper relationships. reinforcing CIBSE'S identity as a truly global organisation. The experienee and diversity of our membership is a huge asset for CIBSE. ITY• of our members have been with CIBSE for more than 30 years. reflecting a remarkable commitment to lifelong learning and to the profession. We have also seen growth within our younger community, with 15% of our members now being under 30, bringing their passion and energy to the industry and the Institution. This unique balance of long-standing expertise and fresh perspective places us in a strong position to addresg the global challenges of climate change and building performance. While 2025 was undoubtedly a challenging year for the industry, CIBSE remained resilient and continued to grow despite strong headwinds. Membership increased by over 3% at a time when many other organisations are Seeing professionals questioning the value of institutional membership. A clear indication that engineers continue to recognise the value of being part of CIBSE. Chartership is at the heart of this. proving our members are not merely competent, but exhibit professionalism and can be trusted. Being a CIBSE chartered engineer continues to resonate strongly and remains a key reason why professionals choose to join CIBSE. CIBSE charter5hip is the kitemark of quality, clearly differentiating our members and underpinning the professionalism of our community. The launch of the Society of Vertical Transportation in 2025 further develops our offering. allowing for more members to gain professional recognition within their specialist areag The scale of CIBSE'S growth. combined with the reach. influence and global impact of our guidance, has reinforced our position as a world leader in building performance, building safety and decarbonisation. Addressing the challenge of decarbonisation is a collective endeavour. It cannot be achieved by a single country or organisation, but through open, selfless collaboration between governments. academia and industry. CIBSE has worked hard in 2025 to strengthen our connections to meet these goals. Central to our approach has been a clear commitment to ensuring that all members. regardless of location, feel supported, valued and represented. We have actively sought feedback from our members. through the membership survey. asking what they need from their Institution, and are addressing the$e priorities within our ongoing strategy.

THE CHARTERED INStITUTION OF BUILDING SERVICES ENGINEERS ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER2025 In Hong Kong, CIBSE has seen membership. reach and influence continue to grow. During a two-week visit to Hong Kong with CIBSE President Eleet, Dave Cooper in November, we welcomed 157 new members to the Region and witnessed firsthand the high standing of CIBSE members and the value of what the Institution bring$ to the community. The CIBSE UAE Region also expanded in 2025, to becomeformally renamed as CIBSE MENA Imiddle East and North Africa). This evolution marks a new chapter in engagement with a wider and rapidly growing region. The new structure more accurately reflects where our members are working and where the industry is developin& while strengthening CIBSE'S ability to support members and policymakers. It allows us to build stronger regional networks, tailor our support to local Contexts and ehampion consistent professional standards. CIBSE also continues to advocate on a global Scale, raising the profile of our members and the vital contribution they make. This was particularly apparent when l attended the newly launched CIBSE MENA Awards in October with CIBSE President, Vince Arnold, where we recogniged the groundbreaking projects and technological advancements taking place there. The winner$ demon$tr8ted 8 commitment to sustainability, innovation and renovation, with projects like the Al Maryah Tower in Abu Dhabi. a major upgrade of a long-vacant structure which won Retail Project of the Year, setting a precedent for how the Middle East can tackle climate and economic challenges by Prioritising retrofit over demolition. Equally important to raising the profile of our members. work, is the community that being part of CIBSE provides. and with this. the sharing of lessons learned and experience5 across borders, go that when challenges arise our community has trusted connections to turn to for advice and support. I witnessed the St￿ngth of thig network fir$thand during our visit to Riyadh, where we met with the Head of Facilities Management for the KAFD giga-city. While the challenges of managing such a vast environment may Seem unique, we were able to connectthem with the Head of FM for the NHS in the UK and a senior FM leader in Hong Kong. Each faced different challenges, yet the exchange of knowledge and experienee was invaluable. This global community of experts lies at the very heart of CIBSE. Across every region, our shared goal is the same= to enable professionals to deliver safer, smarter and more sustainable buildings, and central to this is ensuring the people behind them have the skills, knowledge and experience to deliver these. CIBSE'S knowledge resources - our publications, guidance and technical manuals - go hand in hand with this. CIBSE knowledge continues to be valued by industry and is widely regarded as a benchmark for best practice. Our guidance has now been downloaded in 194 of the world's 195 countries. In light of this, we reeognise the importance of adapting our resources to regional contexts. In 2025, this included the publication of a Spanish translation of TM65. supporting non- English speakers and marking an important step towards developing local addenda for Spain and Latin America. CIBSE'S technical team is also Working closely with the Hong Kong

THE CHARTERED INStITUTION OF BUILDING SERVICES ENGINEERS ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER2025 Regional Committee on the forthcoming launch of new guidance and a digital tool focused on the Internet of Things. CIBSE'S leadership in setting Standards and decarbonisation is furthèr demonstratèd through its role as co-lead in the development of the UK Net Zero Carbon Buildings Standard, where we have contributed proven expertise in shaping robust frameworks and clear pathways to net zero. This now forms a benchmark for other countries to follow. CIBSE has also maintained a strong and visible voice in public policy. Our Technical Director, Dr Anastasia Mylona, highlighted the importance of home insulation and the critical role of ventilation in healthy homes during an interview on BBC Radio 4. In addition. CIBSE strengthened its engagement with government through the appointment of its first Head of Government Affairs. Internationally. we were invited by the Chinese government to participate in UK-China work$hop$ on decarbonisation and 8dapt8tion policy for bvildingg and infrastructure in Beijing. and we signed several Memorandums of Understanding with government bodies in Hong Kong and the MENA region. CIBSE itself has also undergone significant transformation. The move to our new headquarters at the end of 2024 has Created a more integrated and collaborative working environment, with a positive impact on staff retention, morale and productivity. We now have a home that our global membership can be proud of, one that reflects our professionali9m and allows us to welcome members and leaders from acr0$9 the built environment. The next phase of this journey will be the opening of our Skills Hub in 2026. As a centre for lifelong learning and knowledge-sharing, it will serve as a global hub for training. events and collaboration, and will stand as a lasting legacy for the building Se￿1¢e$ engineering profession. AS we reflect on the achievements of 2025, 1 would like to thank our members, volunteers and supporters around the World. Your dedication. expertise and passion have made this another highly $ucce$$ful year for CIBSE. Every contribution, large or Small, helps advance our profession. inspire people and transform places. l am immensely proud to be part of global community that 1$ eommitted. Collaborative and eonstantly striving for excellence. 10

THE CHARTERED INStITUTION OF BUILDING SERVICES ENGINEERS ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER2025 We lead A primary purpose for CIBSE 1$ as a leading pr(wider of authoritative guidance on the principles and practices of building safety and performance. CIBSE guidance enables engineers to keep up to date with the latest requirements and professional solutions to meet their elients. needs and comply with regulationg relating to engineering competence. CIBSE'S Technical Team develops and maintains the Institution's technical direction. working with industry and academic experts and policy makers to provide authoritative, practical resources forthe building services profession. CIBSE Technieal also plays a key role in $haping policy and acting as CIBSE'S teehnical voice, translating evidence into clear positions that influence regulation, support members, and promote safer, healthier and more sugtainable buildings across the built environment. Industry Standards Following its launch in autumn 2024. the pilot phase of the UK Net Zero Carbon Buildings Standard IUKNZCBSI concluded in 2025. with its first major industry conference coordinated by CIBSE. The event shared early le8$on$ from pilot projects through to case Studies and technical sessions on energy use, embodied carbon and verification. Key announcementi included the appointment of Bureau Veritas to support development of the verification framework ahead of the release of Version l at the end of February 2026, the introduction of an'on track, check at practie&l completion. and the introduction of a delineated approach for landlords and tenants. CIBSE continued to strengthen its leadership on embodied carbon in 2025 by expanding guidance and tools that support con$i$tent a$$essment acrosg building Services. TM65'. Embodiedcgrbon in buildingservKEsremains central to this work and is increasingly reeognised internationally for assessing embodied earbon aeross mechanical, electrical and plumbing IMEPI systems. {See the Knowledge and Digital section for a list of published TM65 relevant guidance). CIBSE also initiated the produetion of 8 new piece of guidance on the embodied earbon of heat networks. The heat networks work is being led by The Carbon Trust and Arup, with oversight from a CIBSE steering group. Collaboration with industry partners remains integral to this programme. In 2025, C18SE approved a collaboration with Amazon to fund guidance on the embodied carbon of refrigeration equipment in grocery stores. Looking ahead to 2026, planned developments also include a TM65 addendum for Brazil lin eollaboration with ASHRAEI, and the launeh of 8 new web-based TM65 Embodied Carbon Calculator to improve data consistency, accessibility CIBSE weather files were launched in July, having been developed through a Knowledge Transfer Partnership with the University of Exeter and independently tested by Loughborough University. with support from industry partners including Inkling and Arup. The launch of the new weather files vrns accompanied by a Weather Data Selection Tool,

THE CHARTERED INStITUTION OF BUILDING SERVICES ENGINEERS ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER2025 which has already attracted nearly 3,000 views and around 1,500 active users.A central outcome ofthe project is a robust evidence base quantifying the impact of updated weather data on overheating risk and energy performanee.Thig evidence is being shared with policymakers and certification schemes to inform their use in building regulations (Part L and Part O} as well as other performance standards and assessment criteria. To drive continued innovation. CIBSE has appointed an Environmental Data Scientist to lead di$$emination, maintenance, and expansion of the weather data Portfolio. Opportunities for international expansion across other CIBSE Regions are now actively being explored. Throughout 2025. CIBSE played a leading role in advancing building safety in response to reforms under the Building Safety Act. Working closely with government and industry partners, including the Ministry of Housin& Communities and Local Government IMHCLGI and the Construction Industry Council {CIC). CIBSE provided updates via it$ website, a$ well as providing tr40 training courses.. Introduction to the Buildin Safet Aet and Introduction to A key focus for CIBSE was strengthening technical input into fire safety and regulatory reform. The Building Services Fire Safety Working Group. chaired by David Fitzpatrick, continued to coordinate expert contributions to guidance updates and consultation responses, while the Building Safety Working Group, chaired by CIBSE Past President George Adam9, was reinvigorated to support wider engagement with government in this area. CIBSE also contributed evidence to the House of Lords Industry and Regulators Committee inquiry into the role of the Building Safety Regulator,. the ublished summar referenced CIBSE'S input. CIBSE played a key role in delivering and updating essential industry guidance by encouraging collaboration with other organisations, such as the Commissioning Specialists Association ICSAI and Building Services Research and Intelligence Association IBSRIAI. in the production of Commissioning Code W. We also secured Innovate UK funding to develop technical guidance on heat transfer coefficients which will provide definitions, clarifications, data requirements. and recommendations to 9UPPOrt in-use performance. Policy engagement In 2025, CIBSE continued to strengthen its influence on policy and regulatory reform. providing expert analysis and responses on issues critical to building safety, energy efficiency, and climate ￿$l11enee. Following the UK Budget announcement, CIBSE published a detailed review of its implications for buildings, skills. and energy efficiency www.cibse.or olic -advocac news cibse-anal sis-what-the-2025-uk-bud et-means- for-buildin s-skills-and-ener -efficienc We also supported Several policy campaign$ to progre$$ initiatives of importance to CIBSE. This included joint industry letters on the Warm Homes Plan. Level 7 apprenticeship funding and changes to biodiversity net gain IBNGI planning rules. 12

THE CHARTERED INStITUTION OF BUILDING SERVICES ENGINEERS ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER2025 CIBSE responded to several significant consultations in 2025. including proposals to ￿forrn the Energy Performance Certificate {EPCI regime. changes to the Decent Homes Standard, and building regulations Part G (Water Standards). CIBSE also provided input to the Greater London Authority's review of the London Plan. helping shape proposals to address the city's growth and sustainability challenges. We anticipate that the Department for Energy Security and Net Zero IDESNZI will seek formal feedbaek on the draft Heat NetworkTeehnical Assurance Scheme (HNTAS) technical specifie8tion$ and as$eg$ment procedureg in 2026.AII CIBSE'S submitted consultation responses for 2025 are available at www.cibse.or olic ns Beyond consultations, CIBSE 5UPPOrted industry advocacy efforts on embodied earbon policy in 2025. At the RICS Embodied Carbon Summit, attended by Part Z partnerg, CIBSE contributed to discussions on closing gaps in skills. standards and methodologies and provided feedback on the AECOM study Consideration ofembodiedcarbon in newbuildings. commissioned bythe Ministry of Housing,Communities and Local Government.The summit focused on praetical, technical. and economic eonsiderationg for implementing embodied carbon requirement$, and its key outcomeswill be ¢gptured in a gummary reportto be published in early 2026. This Teport will inform future guidance and industry practice, reinforcing CI8SE's commitment to advancing robust. practical approaches to carbon reduetion. CIBSE maintained its presence in key policy forums. supporting the Climate Change Committee's Adaptation Progress Report and contributing to initiatives led by the National Engineering Policy Centre INEPCI and the Royal Academy of Engineering. Highlights include the final report of the Engineerg 2030 project. rethinking skills for a sustainable future, and the Al-zof Engineering, a forward-looking guide to current and emerging roles in the profe$$ion. which were both launched at the House of Lords in November. Global pre$enee In 2025, CIBSE strengthened its global and national presence through high-profile engagements. collaborative initiatives, and thought leadership. CIBSE continued to provide strong leadership within its long-standing partnership with ASHRAE. Regular bi-annual liaison meetings set the direction for a wide programme of joint activity across publications. events, education and emerging themes, such as Al and decarbonisation. During the year, CIBSE led the development and promotion of TM65 North Amèrica, delivered and chaired teehnieal segsions at the ASHRAE Winter Conference, and maintained stewardship of the CIBSE- ASHFiAE Graduate of the Year Awards with enhanced mentoring and conference integration. CIBSE also initiated future joint activity. including preparation of a flagship decarbonisation seminar for the 2026 ASHRAE Winter Confèrence, feinforeing its role as an influential partner. CIBSE continued to play an active leadership role in its relationship with the Federation of European Heating, Ventilation and Air Conditioning Associations {REHVAI. with representatives contributing across committees. governance and technical activity.

THE CHARTERED INStITUTION OF BUILDING SERVICES ENGINEERS ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER2025 Leadership was demonstrated through coordinated participation on REHVA sub- committees and strong engagement in teehnieal and policy forums. During the year, CIBSE member Livio Mazzarella Commenced his REHVA presidential term and CIBSE supported student and early-career engagement through the REHVA Student Competition. contributed to discussions at REHVA conferences. and engaged directly with European policy developments on zero-emission buildings and indoor environmental quality, reinforcing CIBSE'S position 8$ a leading technic81 voice in Europe. CIBSE also strengthened its reach in Asia by supporting the British Embasgy and Chongqing University in future policy and research discussions. Anastasia Mylona. CIBSE Technical Director and Julie Godefroy. CIBSE Head of Net Zero. participated in a U K-china workshop focused on policy challenge5 related to decarbonisation and climate resilience, reinforcing CIBSE'S role in shaping international Standards and knowledge exchange.Thi$ engagement led to a further invitation from Chongqing University for CIBSE to contribute to the SUDBE Isustainable Urban Development and Building Environment Conference), where we presented the Outstanding Student Award for the first time. further reinforcing the Institution's Tole in shaping international standards and knowledge exchange. CIBSE celebrated design excellence in the Middle East and North Africa through the 2025 M ENA Awards, recognising projects and professionals driving innovation in sustainable de9ign and building performance. Chaired by Julie Godefroy. the judging panel highlighted pioneering approaches to net zero. advanced HVAC strategies. and smart technologies- showcasing the region'g commitment to high-performance. climate-resilient building9. At separate event.Anastagia Mylona p￿Sented the TM65 methodology to CIBSE'S MENA Region, reflecting its growing international relevance. CIBSE eoordinated with CIBSE Canada to host an online event during Canada's Climate Week Xchange ICCWXI, Supported by the British Consulate in Vaneouver and UK government representativeg. The webinar, Collaborating for a climate-ready built environment, highlighted UK-Canada partnerships delivering resilient, high-performance projects- demonstrating the importance of international collal)oration as buildings worldwide face growing climate pressures. Zoe De Grussa. CIBSE Research Manager, joined the panel to share in$ight$ on CIBSE weather files and other initiatives that prepare buildings for future climate challenges. CIBSE has also been working with our Hong Kong Region on new guidance on smart buildings baseline specification. advancing digital innovation and smart building standards. Industry engagement CIBSE has established two new working groups to address key challengeg in the built environment.The Al Working Group is developing a series of position statements on the use of artificial intelligence in building design and operation, setting out the Institution's approach and priorities in this rapidly Èvolving area. In July, the Sustainable Cooling Working Group was launehed to respond to the growing global demand for cooling. Co-ehaired by 14

THE CHARTERED INStITUTION OF BUILDING SERVICES ENGINEERS ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER2025 DESNZ, London South Bank University, and the University of Oxford, it brings together expertise from academia, governmen¢ and industry aeross the world. Its first workshop identified research and knowledge gaps and how CIBSE could address them. CIBSE Technical oversees the technical programmes forthree corneTStone events.. the Building Performance Awards,Teehnieal Symposium and Build2Perform Live. In 2025, it also helpèd deliver the programmeg of four new conferences.. Deearbonisation of heating and cooling. Measuring performance and facilities management. UK Net Zero Carbon Buildings Standard in practice. and Building performance reimagined- what's nex￿ The UKNZCBS in Practice conference in November was the most widely anticipated by industry, attracting broad interest across the building design eommunity. The CIBSE Building Performance Awards continued to champion in-use performance, with annually updated criteria to drive continuous improvement.Julie Godefroy coordinated and chaired the judging panel, with winners announced at the Awards evening in February. Two new eategories debuted in 2025, Client of the Year and Leadership. and from 2026 8 new pathway will see 8 category introduced from the CIBSE MENA Award$ pool, with Shortligted entries automatically considered within CIBSE'S global Building Performance Awards. The 2025 Teehnieal Symposium, hosted at University College London and delivered in eollaboration with the International Build Performance Simulation As$oeiation118PSAI England, brought together academia, industry and policymakers for a two-day programme under the theme, Fit for 2050- Achieving net zero through intelligent, resilient, and sustainable design in the built environment. More than 100 peer-reviewed presentations showeased regeareh, innovation And best praetiee. CIBSE also launched a new annual Buildingserviees EngineeringRese8rch and Technolozy (BSER&fJ research bursary, the Brian Moss Fan Makers Award funded by the Worghipful Company of Fan Makers. to honour Brian Moss OBE. The award supports UK based, 8SER&r published research with demonstrable industry impact and was presented at the President'9 Awards Dinner in October.The winner was the UCL team of Daniel Godoy Shimizu, Ivan Korolija, Yair Schwartz and Professor Dejan Mumovic, for the paper, Large scale gssessment ofretrofit vigbilityusingthe Modellingplgtfom? forschools (MPS). In October, the Domestic Building Services Panel formally integrated with CIBSE, becoming the CIBSE Domestie Building Services Panel ICIBSE DBSPI-Thig integration strengthens governance and influence, positioning the panel to lead improvements in domestic building services through authoritative guidance. policy engagement. and innovation. Key priority areas include supporting the transition to low-carbon heating and hot water systems. improving ventilation and indoor air quality. and enabling effeetive retrofit at $¢81e. Significant progress has been made with the Domestic He8tingDesign Guide Illth edition} published in January 2026 and the development of the Domest￿ HegtPump Design and 15

THE CHARTERED INStITUTION OF BUILDING SERVICES ENGINEERS ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER2025 Installation Guideto be published in 2026 in collaboration with the Heat Pump Association UK. Looking ahead, the panel will review and update core publieations, prioritising areas of greatest industry demand and skills developmenL while Continuing to strengthen collaboration. inform policy. and support competency frameworks essential for decarbonising the UK'S housing stock 16

THE CHARTERED INStITUTION OF BUILDING SERVICES ENGINEERS ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER2025 We empower CIBSE empower$ our member$ and those who own. operate and occupy buildings. through the sharing and dissemination of knowledge and training. We enable people to access the skills and knowledge they require to fulfil their potential. demonstrate their competence and serve society. Working with the industry and its clients. CIBSE serves wider society by developing and publishing internationally reeogni$ed guidance and codes. Knowledge and digital CIBSE'S provision of high quality, peer-reviewed engineering guidanee eontinues, with great additions to CIBSE'S body of Knowledge publications having been releaged in 2025. These included.. Guide D.. Transportation systems in buildings TM65.. Embodiedcsrbon in buildingseryices- Spanish translation TM65.4.. Embodiedcarbon in buildingservices.. Office HVAC TM70.. Tallbuildingdrainage de&gn LF19.' Lightingforneurodiversity Commigsioning Code W.. W8ter distribution systems. There is also positive momentum in our digital business activity. as we continue to grow this function and innovate our product offering for industry.. We are developing our CI8SE Al Position Statement- a diverse and dynamic Al Working Group was fomed in 2025 and it 1$ making good progress on establishing the principles around which CIBSE'S position on the use of Al in industry will be drafted Solid progress has been made on developing the Energy Benchmarks web tool in collaboration with UCL. with a beta version planned for release in 2026. this tool will provide a platform for future new functionality. e.g. collection of operational energy data from industry Exploratory partnership conversation$ are advanced around CIBSE TM65 Certified Data and we're aiming to secure an API partner to support the sale of data to the MEP design industry. This solution for delivering certified CIBSE TM65 product data aims to boost the demand for product certification. growing CIBSE Certification embodied carbon verification scheme revenue A proposal to pro¢e$s self-assessed CIBSE TM65 data using a large language model ILLMI was approved in Deeember 2025, with the aim of processing all data stored to a 95% level of accuracy, and producing the structured data set and process needed to develop benchmarks The CIBSE TM65 web tool is nearing completion. and we aim to make this tool freely accessible via CIBSE'S website in 2026. 17

THE CHARTERED INStITUTION OF BUILDING SERVICES ENGINEERS ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER2025 All the above publications and digital initiatives introduced new authors and collaborating partners to CIBSE, confirming our ststus as an authoritative leader in building services engineering and a highly valued partner for collaboration on innovative projects. Teehnleal Journals CIBSE publishes two peer-reviewed technical journ81$= Buildingservices Ewneering Research and TechnologylBSER&TJ.'and Lighting. Research gnd Technology[LR&IJ in partnership with the publisher Sage. The journals contain high quality articles on the latest research and critical reviews of the newly published literature in their fields. BSER&Tis published 51X times a year and LR&Teight times a year. Available to all CIBSE members as a benefit of membership, they enable the Institution to disseminate research to a wide international audience and contribute to the development of CIBSE knowledge and guidance for the future. BSER8Tis one of the foremost, international, peer-reviewed journals. publishing the highest quality original research relevant to today's built environment. In 2025 article submissions continued to increase. In 2024 total submi$sion$ to the journal increased by 16% to 387, relative to 2023,. in 2025 the total number of submissions increased to 412, up by just over 6%, relative to 2024. A total of 93 articles were published in 2024 and 2025 combined, compared with 68 articles in 2022 and 2023. In April, we welcomed Dr Sung-min Hong. Associate Professor in Building Performance Analysis at UCL, ag Chair of the 8SER&TEditorial Board, taking over from Profe9$0r Lynne Jack of Herriot-watt University. In January, a special issue ISI) on sustainable technologies and systems for net zero carbon buildings and communities was published.The Sl presented nine articles developed from the 2024 CIBSE Technical Symposium. The March publication was also a special issue. titled Deliveringbuildings 8nddefiningperfomwnee for8 netzero builtenvironment. featuring eight papers developed from presentations at the Technical Symposium. The September issue comprised four outstanding articles addressing the use and development of weather files to address the changing and increasingly complex needs of simulation models used to inform our approach to designing sustainable new buildings and the appropriate retrofitting of existing building stock. The November issue of BSER&Tincluded a collection of articles on thermal comfort and indoor air quality, including an evaluation of the applieability of the ASHRAE-55 adaptive standards in informal settlements and refugee camps. This engaging ￿search article was authored by an international team. including academics from the Universtty of Bath. Qatar university.the University of Lima, and McGill University in Montreal. In 2025, LR&Tpublished 40 articles. There were two special issues- selected papers from the CIE 2023 Quadrennial session and DAyl<ght in buildings 8ndthe newstGnd8rds- and four standard issues with articles discussing topics including lighting for health. interior lighting 18

THE CHARTERED INStITUTION OF BUILDING SERVICES ENGINEERS ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER2025 design, and lighting for pedestrians. LR&Treaches a global audience with a readership drawn from a range of professional and academie backgrounds, further enhancing CIBSE'S role as the premier publisher of lighting guidance in the UK. Tralning Training delivery wa$ $tnACtured across public. corporate, and on-demand formats. with a total of 2.299 individuals receiving training during the year. In total. 100 public courses were delivered alongside 50 courses for corporate clients. For the third consecutive year,the Building Safety Act and heat networks courses remained the most well attended. Looking ahead to 2026, growth in these subject a￿&8 will eontinue. with the development of a new eourge for Principal Designers and Principal Contractor$, as well as replacement heat networks courses to support the transition from CPI toTSI. CIBSE Training 2025 highlights included.. 100 public courses delivered to 825 delegates 504 delegates trained through corporate delivery 737 on-demand course purchases, including 233 bulk purchageg by corporate clients. To meet growing demand and broaden subject expertise. CIBSE launched 15 new courseg and onboarded nine new trainers and authors in 2025. A major milestone for CIBSE was the launch ofthe Whole Life Carbon Asse$9ment Practitioner training programme, developed in collaboration with Construction Carbon and funded by Amazon. This programme builds on the success of the Life Cycle Assesgment Foundation training. which has achieved over 2.000 enrolments. Through these initiativeg, CI8SE continues to empower professionals to deliver low carbon buildings and support a more sustainable built environment.

GrowYourKnowledge webinaryJ

In 2025, the #GrowYourKnowledge webinar series maintained strong momentum, continuing to enhance the visibility of CIBSE Knowledge publications. Building on the success of previous year$, the Series delivered a diverse range of webinars spanning knowledge, training and event$ topic$. Collaboration remained a key strength of the initiative. CIBSE continued its partnerghip with the Institute of Refrigeration, bringing valuable cross-disciplinary insight to the sessions, and expanded its collaborations by partnering with the Thermal Insulation Contractors Association to deliver a webinar. These partnerships helped broaden the scope and reach of the series, reinforcing its role as a trusted platform for sharing relevant and up-to-date industry knowledge. 19

THE CHARTERED INStITUTION OF BUILDING SERVICES ENGINEERS ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER2025 In total 20 #GrowYourKnowledge webinars t¢)ok place in 2025, with a total of 3,800 attendees. To acee$$ recorded webinars visit www.eibge.or ro ourknowled 20

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THE CHARTERED INStITUTION OF BUILDING SERVICES ENGINEERS ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER2025 schemes. We continued to work closely with all accredited education providers, offering student presentations and tailored guidanee to universities to support programme development and manage change effectively. In 2025 CIBSE'S End Point Assessment IEPAI continued to grow with 477 assessments taking place. 2026 will be our seventh year of assessment. The EPA Team continue to ensure all Ofqual requirements are met. and EPAS are delivered according to the assessment plans. Schools For the June 2024-June 2025 period. CIBSE sfEM Ambassadors completed 298 STEM outreach activities reaching 40.272 participants. exceeding the target of 28.250 young people interacted with. For the June 2025 to January 2026 period, CIBSE STEM Ambassadors have so far completed 61 activities reaching 7,159 young people. In 2025, the CIBSE FIu9h Challenge game was used by 625 pupils.There are currently 233 regigtered CIBSE STEM Ambassadors. Regiong The Institution is organised on a regional basis. There are 16 Regions in the UK and four non- UK Regions.. Australi8 and New Ze8land IANZI, Hong Kong, the Republic of Ireland, and the Middle Eagt and North Africa {MENAI. The Regions seek to connect. inform and inspire our memberg and the wider communities in which they work and live. They accomplish this by arranging activities to promote building services engineering, organising CPD events, providing networking opportunities for local members and supporting those looking to become professionally registered. This would not happen without the effort and enthusiasm of the more than 250 CIBSE member$ who sit across the regional committees and volunteer their time. Notable activity among the Regions included the CIBSE Scotland Annual Conference, held on the theme of Safe and sustainable futures, featuring a keynote address by Barbara Lane, Expert Witness to the Grenfell Inquiry. and the inaugural CIBSE London Gala in May.The Gala brought together members from the four home eounties Regions and Young Engineer$ Network IYENI London, and featured a keynote address from Ellen Salazar, CIBSE Head of Building Services Engineerin& Australla and New Zealand IANZ) CIBSE Australia and New Zealand Region was joined by CIBSE President Fiona Cousins in March, for a panel discus$ion on Reimagining the engineer'$ role in building perfomance, chaired by CIBSE New South Wales Chair.Jen Elias. The panel focussed on how professional building performance practice and broader building design practice in Australia needs to evolve to deliver more sustair)able outcomes in response to the emerging trend5 identified in the BuildIngperforman￿ reimwnedTeport.The annual CIBSE ANZ seminar series was held in July and Augus¢ on the theme of Building performanee.. imagination to reality.

THE CHARTERED INStITUTION OF BUILDING SERVICES ENGINEERS ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER2025 The Region held its 2025 Young Engineers Awards in October in Melbourne. celebrating the remarkable accomplishments of young engineering professionals, including students, graduates, mentorg, and the businesses that support them.The Region extends congratulations to the four winners= Benjamin Moss. Finn Veeneklaas. Kimberly Lowe and Storm Harpham. Hong Kong Ethan Poon succeeded Hyvan Wong as Chair of CIBSE Hong Kong for 2025-2026 at their AGM in March.The CIBSE Hong Kong Region Annual Dinner was held on 20 March at Jw Marriott Hotel Ballroom in Hong KonE. In all. 500 members and guests attended the dinner, to which the Region welcomed guest of honour. Victor Tai.JP. the Under Secretary for Housing, who gave a speech. The Region enjoyed a presentation from Immediate Past President Fiona Cousins in July. Her addre9s highlighted the need to reframe building performance by eongidering not only technical efficiency, but also user experience. adaptability. health and resilience. C18SE CEO Ruth Carter and President Elect Dave Cooper MBE led a delegation visit to China and Hong Kong in November. aecompanied by members of the CIBSE Hong Kong Region Committee. Over the course of the visit. the delegation participated in a series of meetings, technical engagements, and knowledge-sharing activities with government bodies, industry leaders, engineering institutions, and CIBSE members. Ireland CIBSE Ireland hosted an insightful and thought-provoking morning event at the RDS Members Club, Dublin, in March, bringing together industry leaders, professionals, and stakeholders from acro$$ the building services industry. Attendees received a presentation from CIBSE Technical DirectorAnagtasia Mylona. on key insights into TM65, exploring how it is shaping building design and the regional initiatives driving change. At the same event. CIBSE President Fiona Cou$in$ spoke about the 8uildingperform8nce Trima￿nedrep0rt, offering a deep dive into its purpose and the vision behind it. The morning wrapped up with an engaging workshop. led by Charlie wa￿lek and the Arup Foresight team.The workghop covered major industry topics. such as climate change. regenerative design. circular economy. and innovation in energy. highlighting their impact on society and the future of the built environmenL Laura hAcMahon succeeded Stephen Weir as Chair of the Region at its AGM in April.The 2025 CIBSE Ireland Workforce Exchange programme proved exceptional with Ethos Engineering and Designer Group participating. Devised to build and strengthen relationships between engineering and contracting companies in the building services sector. the core objective 15 for the participants to gain insights into the working practices of each other's disciplines. 23

THE CHARTERED INStITUTION OF BUILDING SERVICES ENGINEERS ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER2025 Middle Eastand North Africa (MENA) The CIBSE UAE Region wa$ Trnamed CIBSE MENA in October, markrng an important $tep in the Institution's continued growth and evolution across the Middle East and North Africa. Since its inception, CIBSE UAE has played a Central role in supporting building geNices profegsionals in the United Arab Emirates. Over time. both the region and the nature of CIBSE'S activity have evolved considerably. What began as activity predominantly centred in the UAE has expanded significantly, with increasing engagement and building services activity taking place across the wider MENA region. Renaming the Region to CIBSE MENA reflects thi9 shift and ensures our stWCtU￿ 81ign$ with where our members are working and where the industry is growing. This change was celebrated at the CIBSE MENA Awards 2025. CIBSE Pregident Vince Arnold and CEO Ruth Carter joined the celebrations as part of their visit to the region. which included an executive Toundtable on Decarbonising a growing GCC projects market. and the first CIBSE MENA Decarbonisation Conference. Young Engineer9 Network (YEN) The CIBSE Young Engineers Network IYENI 1$ a global network of regional centies offering forum for engineers in the first ten years of their careers to learn new skills, expand their knowledge and give or receive peersupportYEN is open to CIBSE member9 and non- members. Max Mecone was appointed YEN Global Chairatthe CIBSE YEN Global AGM in May, with Aishwarya Chengappa elected a$ Vice Chair. CIBSE YEN Global launched CIBSE'S first ever 30 Under 30 Awards to mark the 30th anniversary of the Young Engineers Awards {YEAsl in June. The awards received 85 entries, and the winners were announced in the September issue of CIBSEJoumal. The 30 Under 30 Awards reeognised our best and brightest young engineers, going beyond the scope of the YEA5 to include those beyond graduate, undergraduate and apprentice level. Nominees were chosen from across five categories.. emerging leaders,. sustainability champion9', ambassadors- innovators., and wildcards. In November 33 YEN representatives from across the world were welcomed to Glasgow and Edinburgh for the CIBSE YEN Global Conference. Hosted by CIBSE YEN Scotland. the event started with a STEM outreach session featuring Glasgow Kelvin College. YEN representatives undertook a range of practical $e$$ion$, including wiring, Soldering, pipe bènding and flue testing, while being guided by faculty staff and apprentices attending the college.The YEN Cohort then went on a factory tour to leam about Pr￿esS engineering. waste heat recovery and the role of building services in beverage manufacturin& before attending the CIBSE Scotland Annual Dinner. At the dinner, Molly Behling and Anand Tailor were presented with Presidential Commendations for their ongoing roles as communications leads for CIBSE YEN Global. CIBSE Scotland YEN Chair Aidan McGhie also received a Presidential Commendation for his 24

THE CHARTERED INStITUTION OF BUILDING SERVICES ENGINEERS ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER2025 contributions to CIBSE Scotland and YEN on a regional and global level.The weekend concluded with 8 visit to Edinburgh for the YEN Global Conference, which took plaee in the Royal Scots Club. It featured workshopg to advance the network's mission, strengthen its integration within CIBSE'S broader frameworl and develop initiatives to increase the number of young engineers entering the industry. Societie$ and Divigions Key engineering disciplines are represented within CIBSE by Divisions that offer profesgional recognition to their members and support the art. science and practice of engineering within their specialist field. In 2025 CIBSE expanded this support by establishing a new society. the Society of Vertical Transportation (So￿￿. The SOVT together with the existing five CIBSE Division9,' the Society of Light and Lighting ISLLI, the Society of Fa¢ade Engineering ISFEI, the Society of Public Health Éngineers {SoPHE}. the Society of Digital Engineering ISDEI. and CIBSE Patrong have a combined individual membership of over 7,000 and over 180 company members and partners. Society of Light and Lighting ISLLI The Society of Light and Lighting ISLLI welcomes all who are interested in the arL science and engineering of light, lighting and its applications. Lighting designers, consulting engineers, researchers, students, academics, manufacturers. and sales staff all eontribute to its memberghip. It offers a significant range of authorit8tive guidance, profe99ional recognition. and a range of technical events. SLL is recognised worldwide as an authority on lighting and its applicationg. In January, the SLL exhibited at Light+lntelligent Building Middle East in Dubai. At the event Dan Lister. SLL Presidenl was a panellist for Culture.. Li81)t as a medium to create cohesive cities. and also presented on global lighting best practice. including an overyiew of SLL guidance and publications. In March, the SLL held a conference, Illuminating the future= balancing light and dark nightscapes, at University of London. The conference featured experts from various fields, including environmental science. urban planning. criminology. and social psychology, offering a balanced examination of the advantages and disadvantages of artificial light after dark. In Scotland the SLL hosted a conference, Retrofit and remanufacturing, at the University of Strathclyde. The SLL AGM took place in May at the Barbican, London. It wag an opportunity to thank Dan Lister for his presidential year and welcome incoming SLL President Kristina Allison. The evening included the annual awards ceremony and Presidential Address. 25

THE CHARTERED INStITUTION OF BUILDING SERVICES ENGINEERS ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER2025 Other notable events in 2025 included partnering with the ICEL Emergency Lighting Conference and the Lighting Industry Assoeiation's ILIA) TECH-X eonferenee. The SLL also hosted the SLL Past Presidents. Lunch, exhibited at the Institute of Healthcare Engineering and Estate Management's {IHEEMI conference and exhibition. and partnered with Recolight for its Circular Lighting Live and Net Zero Lighting conferences in London. In October the SLL launched a new Faetfile LF19.. Lighting forneurodiversity. The annual SLL Ready steady light event took place. in association with Rose Bruford College and the International Association of Lighting Designers {IALDI. Team Rose Bruford won the Techr)ical Award and Team Introba won the Artistic and the Peer Award. The SLL Young Lighter final was held in London and Manchester with two finalistg presenting at each venue in front of an audience. and the other presentations streamed live to the other venue. Lucie Kohakova was named SLL Young Lighter 25 for her presentation.. rhe impact ollight on human circadian rhythms- especiallyin early childhood- andhow design can supporthealthiersleep through bioboeallyappropriate li£hting'LUNA'. Nicholas Witton was the recipient of the Jean Heap Bursary in 2025 with his project.. The effects of nearinfraredon sleep outcomes via mitochondnglp8thways.'A comparative study on the impaetofne8rinfraredexpDsure on humanperformanee, sleep metncs and elrcadian responses in workp18cesettings. In November, SLL was at LIGHT 25 at the Business Design Centre, London. A two-hour programme of presentations. titled LIGHT Inside Out and curated by the SLL and chaired by Kristina Allison, eovered manufaeture, design. testing. eontrols. eireularity and embodied earbon of luminaires. From Scotland to Dubai the SLL hosted a number of regional presentations in 2025, including.. Effects oflightingin work environmentsndst8ndards.' 20x20.. Contr8Sts in lighting,. Lightiwthe Elizabeth Line.. From concept to re81ity,' Light10￿¢.. Understandthe langu49ge ofcontrolandeffieientsystem eontmls andRadI4tingpositi￿ty. Society of FaFade Engineering ISFEI The Society of FaGade Engineering ISFE) brings professionals together in a ft)rum where they can work together to advance knowlèdge and praetiee in fa¢ade engineering and design, promote good practice and ensure that today s increasingly complex building fa¢ades meet the many and varying performance criteria. It addresses the complex i9sues in building physics of thermal insulation.ventilation. lighting.solarcontrol. and acoustics. In 2025 Linkedln continued to be a key driver forengagement with the SFE, with an increase in followers of 52% to 6,342, promoting SFE membership, events and updates. 26

THE CHARTERED INStITUTION OF BUILDING SERVICES ENGINEERS ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER2025 The Society has 1,886 members and welcomed over40 new graded members achieving eitherAssoeiate, Member or Fellow grade in 2025.These applications were facilitated by the launch of the gtreamlined online application procesg. leading to an improved user experience and a decrease in incomplete applications. The SFE quarterly enewsletter continued to build on its sucee$$, with a 55% inerease in subscribers to 3,900 and 7.250 article views. Readers a￿ kept informed on the SFE'S current and upcoming activities. news. and developments aer09S the faFade industry. In 2025, the SFE hosted 28 events globally. with the SFE Hubs playing a key role. SFE Middle East hosted their first event in Saudi Arabia, welcoming over 250 attendees. SFE Italy h05ted four events, including the first SFE event in Rome. The SFE is also delighted to welcome new networks in India and Greece also hosting their first events.The aim of the SFE Hubs is to expand the reach of the SFE - growing membership. raising the profile of faFade engineering and providing opportunities for regional participation. In 2025 the SFE became the first CIBSE Society to launch an online directory of member9hip. A member benefit for Corporate SFE members. the directory recorded 101 registrations within six months. The Soeiety eontinues to ensure it 1$ at the forefront of technieal issues relating to fa¢ades. Activity in 2025 has included.. commenting on PAS 9980 Fire nsk8ppr8lS8lofexterng1 w8lls 8ndcl8ddingof flAt4 contributing to a Centre for Window & Cladding Technology Technical Note by providing comments. responding to technical queries from members, engaging with the CIBSE Knowledge Generation Panel and commenting on the Congtruetion Produets Reform G￿en Paper. The SFE Technical Committee has also launched a Standard Scope of service document for fa¢ade engineering. whieh will be a valuable tool for their members and wider industry. For the first time in its history, the SFE received multiple nominations tojoin the SFE Board, presenting the need for an election and demonstrating its standing within the industry. Society of Public Health Engineers {SoPHE) The Society of Public Health Engineers ISOPHEI aims to provide a higher profile and focus for public health engineers. In 2025 SOPHE hosted over 30 events for its members, ineluding CPD and networking opportunities, offering high quality technical conten¢ eovering a wide range of topic$ provided by SOPHE Industrial Associates. 27

THE CHARTERED INStITUTION OF BUILDING SERVICES ENGINEERS ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER2025 The SOPHE Technical Conference took place in March in London. 110 delegates attended inter-eonneeting sessions foeussing on water searcity, smart water management, climate change and engineering. In May. the Society hosted the 13th Annual SOPHE Northern Dinner in Manchester. supported by 13 Industrial Assoeiates.Just underl00 guests attended the dinner, celebrating the public health engineering sector. The SOPHE Plumbing Centre of Excellencelyoung Engineers Network annual plumbing competition took place in June atthe new South Bank Colleges campus in London. SOPHE YEN competed in teams with college learners to bridge the gap between domestic and commercial in$tallation$. SOPHE celebrated the 21st anniversary of its annual London dinner at the Royal Lancaster Hotel, London, attended by over 300 guests. SOPHE took this opportunity to celebrate the YEN winnerg of the Plumbing Centre of Excellence eompetition and to launch its new branding. SOPHE concluded the Society's busy events schedule in December 2025 with a launch event forTM70.. Tallbuildingdrainingdesign, a comprehensive, evidence-based guide ereated to help engineers and designers address the Complex behaviour of drainage $￿temS in high- rise buildingg. SOPHE YEN hosted three events in 2025, giving young engineers the opportunity to network with publie health manufaeturers. A member of SOPHE YEN, Klaudia Rudzionek, of Arup. also shared the 2025 Ken Dale Travel Bursary. Cross-collaboration and community support are key drivers for SOPHE Activities, in October SOPHE worked with other CIBSE network partners. Society of Light and Lighting. Healthcare Group, and CIBSE North West to attend the IHEEM Healthcare Estate$ Exhibition and Conference to promote their activities. Gue$t$ at both annual dinners generously supported charities with donations made to Christie's NHS Foundation Tnjst and Village byvillage. The SOPHE quarterly enewsletterwas given a fresh look in 2025, accompanied by a change in editorial policy to theme the issues. So far, technical themes have ir)cluded hot water supply, pumping solutions, and $u$tainability. The newsletter has a eir¢ulation of over 10,000 and provides its readers with technical CPD articles. industry updates and upcoming initiatives from the Society- The SOPHE Industrial Associate members inelude manufarturers, eontractors and certification bodies working within thè publie health enginèering industry who offer their resources. sponsorship and access to innovation to support SOPHE members.This close 28

THE CHARTERED INStITUTION OF BUILDING SERVICES ENGINEERS ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER2025 working relationship drives best practice in sustsinability, health and safety, environmental quality and work efficiencies, reeruitmen¢ and education within the industry. Society of Digitsl Engineering ISDEI The Society of Digital Engineering ISDEI was formed to provide a home forthose involved in digitising the built environment, either a$ designers, contractors, manufaeturers. clients, facility managers or software vendors. In February, the SDE Continued its collaboration with the London Revit User Group, hosting a joint evenL The 75 attendees enjoyed presentations on how diverse teams use automation, from micro tools for design to comprehensive lifecycle systems. In May. the SDE followed its AGM with a technical evening featuring presenterg from Buro Happold, discussing risks and mitigations linked to Al use. and Foster * Partners, research and development team. highlighting some of their innovations improving effieieneieg In envlronmental analysis. In August, the SDE launched its new logo.This new. modern identity reflects the innovation. precision, and forward-thinking Spirit of the Society's community. The logo was the forerunnerto an updated website launched in November to eoineide with the introduetion of the profegsional grades of membership, offering recognition for those working in the digitisation of the built environment alongside CIBSE membership. The new membership grades were announced at the 202S SDE Digital Awards - the Society's first stand-alone awards ceremony. Held at the London Cent￿, the event sold out, with over 100 attendees. This rnile$tone marked a new chapter forthe awards, bringing together innovators, thought leaders, and digitsl pioneers from across the globe, including guests from Hong Kong, to celebrate outstanding achievements in digital engineering. For the first time, the awards featured external expert judges, category and headline sponsorship and a public vote forthe new'digital change maker'category. CIBSE Patrons The CIBSE Patrons are often referred to as the'corporate supporters. of CIBSE, as they are the group of businesses that collaborate to provide financial. moral and technical support to the Institution. CIBSE Patrons offer a way fororganisations to engage with CIBSE - fostering collaboration and knowledge exchange between CIBSE Patrons and the broader CIBSE community. In 2025 the Patrons continued to support events fostering knowledge and innovation, alongside green shoots activity. 29

THE CHARTERED INStITUTION OF BUILDING SERVICES ENGINEERS ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER2025 CIBSE Patrons celebrated industry talentthr¢)ugh category sponsorship at the Building Performance Awards, 30 Under 30 Awards and the CIBSE Young Engineers Awards. Support for teehnical events included the CIBSE Technical Symposium and other conferences on decarbonisation. building performance and facilities management Additionally, CIBSE Patrons offered support forevents hosted by the CIBSE Regions, including a conference in Scotland and YEN outreaeh events 8t universitie$ in London. CIBSE Patrons also hosted their own events. including a technical event in April on manufactured embodied carbon, a new networking event to promote CIBSE Patrons in October, as well as the annual showcase event at the House of Lords. Hosted by Lord Mair. the event saw guests engaged by Dr Philip Webb, CEO of Health and Wellbeing 360, who demonstrated his passion for ensuring workplaceg are designed to support both wellbeing and performance. CIBSE Patrons ended their activity for the year with their policy even( hosted in Wegtmingter and featuring speaker9 from CIBSE. DESNZ and Gem$ery. Soclety of VertleAI Transportation (Sovn In 2025 CI8SE launched the Society of Vertieal Transportation (SO￿), transitioning from the highly engaged and active CIBSE Lifts Group and broadening itg remit to offer formal professional recognition to its members. The Soeiety offieially launched in September. eoineiding Wlth the publieation of the revised CIBSE Guide D. In November CIBSE.supported bythe Chairofthe SO￿ Membership Committee, hosted 8n online webinar to introduce and promote membership to over125 attendees. The SOW also hosted its annual seminar at AECOM'S London office in November, with more than 70 delegates in attendance to hearthought-provoking update$ and presentations covering codes and standards. lift maintenance. lift traffic design. future proofing design. and digital advertising. At the 2025 CIBSE President's Awards Dinner, Dr Richard Peters, one of the So￿,5 founding officers, and a global authority in vertical transportation, was awarded a CIBSE Silver Medal. As a previous Chair of the CIBSE Lifts Group, forerunner of the SOVT, Dr Peters was reeognised for his long-serving membership in key roles and his invaluable contribution to CIBSE Guide

THE CHARTERED INStITUTION OF BUILDING SERVICES ENGINEERS ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER2025 Special Interest Groups ISIG$l The CIBSE Special Interest Groups {SIG$l provrde a wealth of CPD ft)r members and non- members and allow for open, and occasionally challenging, discussions on topics that cover the wide breadth of issues faced by building seNiees engineers. With a combined membership of over 29.000, our SIGS are.. ASHRAE 2. Building Simulation 3. Data Centre$ 4. Daylight 5. Education Buildings 6. Electrical Services 7. Energy Performance 8. Facilities Management 9. Healthcare 10. Heat Networks 11. Heritage and Retrofit 12. Homes for the Future 13. HVAC System9 14. IT & Control$ 15. Intelligent Buildingg 16. Natural Ventilation 17. Resilient Citieg 18. Sustainability The inaugural meeting ofthe Data Centres Group took place in March. The Group has started organising events and has made proposals for new publications. The Sehool Design Group and Heritage Group both had ehanges this year.The School Design Group expanded its scope to include higher education. furthereducation and university buildings and announced at its AGM the new name of Education Buildings Group to reflect this change. The Heritage Group made a similar decision to refocus by combining the main committee and the subcommittee (Retrofit in Heritage) into one. which is reflected in the new name, Heritage and Retrofit Group.The Group also made significant updates to its website. The Energy Performance Group released a Halfhourdailyprofilertoolfor members to download for free from their website. The Building Simulation Group organised a series of webinars to promote its annual awards, which resulted in the largest number of submissions received for l)oth categories. 31

THE CHARTERED INStITUTION OF BUILDING SERVICES ENGINEERS ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER2025 CIBSE Fellows Network In 2025, the Fellow$ Network held two ma$tercl#$ses held 8tAECOM'$ Aldgate office, with presentations from Dave Cheshire. a prominent author in the field of sustainable engineering, and Ken Shuttleworth, the renowned founder of Make Architects.These masterclagses aim to inspire members by sharing the personal and professional journeys of the speakers. Mike Burton, CIBSE Vice PresidenL was elected Chair of the Network in May. Equity, Diversity and Inclusivity Committee The CIBSE EDI Committee's foeus in 2025 wa9 on reviewing and implementing the recommended actions ari9ing from Consulting Rainbows. review of CIBSE'9 P091tion and activities on equality. diversity and inclusion IEDII- In May. the committee published an updated version of , originally issued in 2019. The committee also focused on recruiting new volunteers across the individual panels repregented within the committee and on Collaborating on events to further the conversation around EDI within the profe$$ion. All four CIBSE EDI panel Chairs came together to deliver a joint discussion on the importance of EDI in engineering at Imperial College London. The eommittee began work on a proposal for a CIBSE Knowledge publication on inclusive design principles,. this work will continue into 2026. In addition, the committee continued to act as 8 key sounding board for the CIBSE Board and Executive, providing advice on a range of strategic matters, including the CIBSE brand refresh. 32

THE CHARTERED INStITUTION OF BUILDING SERVICES ENGINEERS ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER2025 We inspire We inspire the building services industryto design better performing and more sustainable buildings that are safe and healthy places forthose who live and work in them. Through CIBSEJourn81, our awards,Teehnical Symposium and conferences we raise the profile of what we do and the importance of building seNices engineering, whilst also pushing our engineering community to keep up to date with the latest industry developments. practices. and inspiring them to reach their full potential. Conference9 CIBSE hosted four conferences in 2025.. Decarbonisation of heating and cooling The conference in May. saw experts lay out the case for accelerating the move from gas boilers to heat pumps. Speakers included Heat Pump Association chief executive Charlotte Lee, who presented an overview of the UK'S domestic heat pump landscape, and said that nearly 100,OQO heat pumps were ingtglled in 2024, up 63% from the previou$ year. Measuring performance and facilities management Taking plaee in June, the eonferenee brought together leading voiees from aeTO$S the built environment to explore the evolving landscape of building performance and operational excellenee.The conference focused on cutting-edge themes, including building management Sygtems IBMS), data-driven decision-making. post-occupancy evaluation, and health and wellbeing metrics. UK Net Zero Carbon Building$ Standard in practiee The conference, held in November. dissected the learnings of 213 trigls of the pilot version of the UKNZCBS, from 130 organisations. Attended by engineers, developers. and policymakers, the event offered detailed insights into early lessons and real-world applications with case studies and technical sessions exploring energy use. embodied carbon, and verification methods. Building performance reimagined- what'$ nex Also held in November. this conference focused around Fior)a Cousins. 2024-25 presidential theme, $how¢a$ed actionable in$ight$ and next step$ to addre$$ the evolving Challènges of building performance in 8 changing world. It featured four sessions focusing on fabric, renewable energy, research. policy. and people-first approaches. 33

THE CHARTERED INStITUTION OF BUILDING SERVICES ENGINEERS ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER2025 CI8SEJoumal CIBSEJourn8/laun¢hed Some new initiatives in 2025, including a new online event, CIBSE Joum8lLive. The December event focused on Al. technology and innovation in building services engineering and attracted over 1.300 registrants. New subject-specific enewsletters focusing on digital engineering. were also launched. and received strong engagement. Following the Success of the sponsored survey in 2024, the Joumal ran another sponSo￿d suNey, this time with a focus on smoke and fire dampers, with the results written up in the December Journal. Throughout the year. CIBSEJoun7albrought readers high quality detailed technical articles, case studies and news. reflecting CIBSE'S priorities and supporting events across all CIBSE'S Region5, Groups and Societies. The December edition included coverage of the newly18unched CIBSE MENA Awards, with the award winning hotel, Jumeirah Marsa Al Arab, being the featured case study and appearing on the cover. The September issue was once again produced in collaboration with the CIBSE Young Engineers Network and featured the new 30 Under 30 Awards, winners on the cover- an image which wag widely shared acr09S 90cial media. There has also been extensive coverage of the UK Net Zero Carbon Building$ Standard highlighting CIBSE'S involvement in this influential project. The Journal has also supported the CIBSE Building Perfomianee Awards IBPAI with features on Globe Point in Leeds- which also highlighted NABERS UK and C18SE Certification - and Sydney Airport Terminal l. The SFE Fa¢ade Awards were also showcased with the Febwary cover feature highlighting Beijing's new library. There were eightJourn81 webinars in 2025, with subjects ranging from air conditioning. prefabrication. smart valves. net zero and piping. Tim Dywer. CIBSEJournaltechnical advisor. stepped down from his role as author of the Jourr)al CPD modules following the publication of his 250th module. but remains a valuable resource as technical advisor to the magazine. The CIBSEJoumalwebsite continued to support the print magazine, receiving 25,000 monthly average visitors. supported by the enewsletters and social media posts. Media relations CIBSE'S profile and influence grew significantly in 2025. reflecting the strength. consistency and Credibility of its publie relations and advoeaey work. Building on the momentum of previous years, CIBSE further established itself as a trusted and authoritative voiee on

THE CHARTERED INStITUTION OF BUILDING SERVICES ENGINEERS ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER2025 building services engineering, building safety, energy performance and the transition to net zero. A highlight was the substantial increase in national media exposure. CIBSE appeared in 14 national media features in 2025. compared with four in 2024. representing a year-on-year increase of 250%.This perfomiance exceeded the national media KPI by seven times. This sharp rise in coverage illustrates not only increased visibility, but also a shift in perception.. national media outlets are now proactively seeking CIBSE'S expertise to comment on complex and high-profile issues affecting the built environment. These include building safety, infrastructure resilience. retrofit and insulation. overheating, and climate adaptation. Notable national coverage in 2025 included.. A live interview with Dr Ana$ta$ia Mylona, CIBSE Teehnieal Director, on BBC Radio 4.$ You and Yours, where she provided expert insight on retrofit ingulation and its long- term benefits for homes. A feature in The Telegr8p& Unreli8ble. outofdgte 8nddownright d8ngerous.' rhe terrifying truth 8boutesc8lators. incorporating expert commentary from Dave Cooper, CIBSE Viee President. An interview with Dr Zoe De GrugS8. CIBSE Regearch Manager, in the London Evening St8nd8rd, offering practical expert guidance on cooling homes during heatwaves without reliance on air conditioning. Five national broadcast and print interviews with Dave Cooper across Sky News, Channel 5. LBC Radio. The Sun and Metrq following the Lisbon tram derailment in September 2025. Collectively, this eoverage reinforced CIBSE'S standing a$ an independent,trusted and technically rigorous institution whose expertise is increasingly sought at moments of public and policy relevance. Strong and gustsined reeognition in the trade pres$ CIBSE'S reputation within the trade Press continued to strengthen throughout 2025. Increasingly, key pvblications approached CIBSE directly for expert comment, interviews and thought le8dership.This shift has enabled greater control over messaging and ensured alignment with CIBSE'S strategic priorities. CIBSE featured prominently across a wide range of trade titles. including Facilities Managementjournal Specification Online. Specify Magazine, PBC Today, MBS, Buildingser￿Ces Engineeringonline. MEPMiddle East, Eye of Riy8dh, MENA FN, GOD(Jb8i.c0m,A8SM￿dle E8st, Dubai PR Network, and The Sustainable rimes. Coverage consistently highlighted CIBSE'S technical authority, research-led insights and leadership across the built environment sector.

THE CHARTERED INStITUTION OF BUILDING SERVICES ENGINEERS ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER2025 Growing international profile CIBSE'S international media presence #Iso expanded in ?0?5, p#rti¢ularly in the Middle East and North Africa IMENAI region. Ruth Carter. CIBSE CEO. featured in a series of high-profile interviews and expert commentaries across regional outlets. addressing decarbonisation, skills, leadership and the future of building services engineering. This activity culminated in AIEPAliddle East, the region's leading trade publication. commi$$ioning an extended Cover story interview with her. Through its media relations and communications activity, CIBSE continued to strengthen its reputation, deepen engagement with key stakeholders and amplify its voice both nationally and internationally. ensuring its expertise informs public discourse and industry decision- making. Social media In 2025, CIBSE implemented a diversified gocial media strategy to gtrengthen our pre9ence acrosg multiple channels, including Linkedln, Meta. and YouTube. This multi-channel approach enabled us to reach broader and more varied audiences, with particular focu5 on engaging younger demographics through Meta. while maintaining professional influence on Linkedln. In 2025, CIBSE gained 8,772 new followers aeross 811 social media platforms, ￿Presenting an 11% increase in followers. This performance reflects a 21% higher growth rate compared to 2024, when followergrowth stood at 9%. Engagement and performance metrics across both Linkedln and Meta continued to rise, Strengthening C18SE's digital Teach and influence. A key priority in 2025 wa8 to amplify CIBSE'S global presenee. We worked elosely with Regions to showcase the work, expertise, and impact of ourglobal community. We intend to build on this momentum and further elevate global voices across our channels. Video-led growth ènd brand narrative CIBSE will continue to prioritise video-led contenl reflecting its growing importance and preference across all age groups. Our YouTube performance in 2025 underscores the strength of this approach.The totsl watch time reached 24,536 hours. representing a 9% increase compared to 2024. Our content focus has increasingly centred on member stories. experiences. and professional journeys. reinforcing the value of CIBSE membership. strengthening brand recall, and demonstrating the Teal-world impact of CIBSE and its community.

THE CHARTERED INStITUTION OF BUILDING SERVICES ENGINEERS ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER2025 Growth on individual platforms- Platform Followers % Growth 24.494 -0.55% Linkedln. 55.607 16.37% Instagram 3.191 19.96% Facebook 1.775 5.28% YouTube 4,035 12.96% 'Linkedln remsins thepl8tfonn with the largest8udience andthe highestmonthly impressions Webslte The CIBSE webglte had over 250,000 active uger8 in 2025, a quarter of whom were non-UK. largely from Ireland, Hong Kong, China. Augtralia and the UAE. Users are mainly 8cce9sing membership related information as well as training and knowledge, the mogt aecesged guidance being Guide A. Guide B and TM65 as w￿11 as the new weather data sets. The websites policy section was revamped in December with new navigation and content designed to highlight CIBSE'S 8ovemment affairs related work and legislative updates. 37

THE CHARTERED INStITUTION OF BUILDING SERVICES ENGINEERS ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER2025 Building services awards The companies, projects and individuals on show across CIBSE'S diverse awards portfolio demonstrate the wealth of expertise. knowledge and innovation present within the indu9try. We are proud to celebrate these achievements and successes and raige the profile of the groundbreaking Work our members are involved in.The wide range of awards highlights the skills and talent that are vital to ensuring our building$ are Safe. comfortable and healthy places to live and work in. CIBSE Building Performance Awardg 2025 The 2025 CIBSE Building Performance Awards took place in February at the Park Plaza Westminster Bridge Hotel, London. The event celebrated the individuals, organisations, products and projects that set new benehmarks for sustainability. innovation and performance in the built environment. With a total of 30 categories. the awards highlighted the crucial contributions across disciplineg that shape the future of the built environment. Categories included Best Digital Innovation, Projeet of the Year. Product or Innovation of the Year and Building Performanee Champion. The title of Building Performance Champion and Project of the Year - Retrofit Workplaces went to the Entopia Building. an extraordinary collaboration between Max Fordham. Architype, and BDP. This transformational Project in Cambridge tumed a 1930s structure into an ultra-low-carbon Sustainability hub, demonstrating groundbreaking application of circular economy principleg. With Pa$$ivhau$ EnerPHit certification and targeting multiple other sustainability accolades, the project showcases the future of environmentally conscious design, achieving a staggering 84% reduction in whole-life carbon compared to standard retrofits. www.cibse.org/bpa CIBSE MENA Award$ The second annual CIBSE MENA Awards {previously the CIBSE UAE Awards) took place on 30 October at the W Palm Jumeirah Hotel in Dubai. The revitalised initiative aims to honour and celebrate the outstanding achievements of engineers, projects, and companies across the Region. Notable wins included the fit-out of Buro Happold's Riyadh oWice in Saudi Arabia, which won the MEP Building Performance Award. and the striking Jumeirah Marsa Al Arab resort in Dubai. a 140.500m2 ultra-luxury destination. which won the Mechanical Project of the Year and MEP Project of the Year for Ramboll. www.cibse.or events cibse-awards cibse-men8-awards-2025

THE CHARTERED INStITUTION OF BUILDING SERVICES ENGINEERS ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER2025 CIBSE medals Nineteen exceptional CIBSE members had their dedication to and passion for the building services industry recognised with medals at the President's Awards Dinner. Four Gold, four Silver and 11 Bronze medals were presented to those whose exeeptional eontributions to the Institution and the industry have made a significant impact. The four Gold medals were awarded to Derek Clements-croome, Kevin Kelly, Richard Rooley and Peter Wong. CIBSE 30 Under 30 Awards To mark the 30th anniversary of the CIBSE Young Engineers Awards. CIBSE Global YEN launched the 30 Under 30 Awards. The new awards recognise the breadth of talent in the seetor with five eategorie$.' Emerging leader: Sustainability champion,. Ambassador,. Innovator,. and Wildcard. The 30 Under 30 list can be found at.. V￿W.e1bse.orglget-inVolvedIYoUng-engineers- networklcibse-30-under-30-awardg1 CIBSE Young Engineers Awards The 30th anniversary of the Young Engineers Awards shattered Previous records to become the most successful in the event's history, with a record number of entrie5 from apprentices, undergraduate$ and graduates in the building se￿l¢e$ industry. The event, which also inelude5 the Employer of the Year Awards, honoured the event's eo- founders, Ewen Rose and Tim Dwyer FCIBSE. who. after three decades of organising the awards, stepped down as host and chair of judges respectively. They were presented with the President's Award for Exceptional Service to CIBSE by CIBSE President Vince Arnold. The 30th winner of the CIBSE ASHRAE Graduate of the Year Awards was Hannah Gray, University of Edinburgh and Foster + Partners. The 10 finalists had to give a live presentation on the theme, Engineeringfor imp8ct.' how can we make carbon reduction re81. measurable andmeaningful?and the judges rated Gray's most highly. Central to her presentation was a call for engineers to improve their carbon literacy to help them understand how their designs affect building carbon emissions. www.cibse.or ea 39

THE CHARTERED INStITUTION OF BUILDING SERVICES ENGINEERS ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER2025 SFE FaGade Design and Engineering Awardg The SFE hosted the 2025 FaFade Design and Engineering Awards on 5 November at Old Billingsgate, London. recognising outstanding achievement and innovation in the field of farade engineering and highlighting the vital role faoades play in sustainable, safe and visually striking buildings. Among the technically ambitious schemes was the Zardini buildin& in Italy. Submitted by Maffeis Engineering. It won Project of the Year- New Build {International}, with the judges describing it as a refined and technically rigorous project that balances expressive architectural form with engineering precision. The Lifetime Achievement Award was presented posthumously to Simon Webster, founding member of FMDC. whose work exemplified technical excellence, creative integrity, and a deep eommitment to eollaboration. This year marked the 10th anniversary of the Fa¢ade Awards. A celebratory booklet is available at- www.eib$e.orglevent$lcibse-award$l$fe-facade-2025-de$ign-and-engineering- awardsl SLL Young Ll8hter of the Year Lucie Kohakova was named SLL Young Lighter with her project. The imp8Ct of lighton hum&n circadign rhythms- especiallyin e8rlychildhood- 8ndhow design c8n support healthiersleep through biologicallyappropriate lighting'LUNA'. Lucie is a multidisciplinary designer with a strong focus on lighL wellbeing, and human centred design. The competition provide$ a unique platform for young lighters. allowing entrants to demonstrate their knowledge, research or ideas on a lighting subject. hone their presentation skills, and raise their profile within the industry. www.cibse.org/policy-advocacylnewslsll-young-lighteT-20251 SOPHE Young Engineers Awardg Saskia Verkaik was named winner of the SOPHE Public Health Engineers Young Engineers Awards, and Harry Robbiati was runner-up.They both won a trip to Ghana with charity Village by Village. which collaborated on the awardg. to help with a real. onsite project. The awards were based on the performance of entrants at the SOPHE YENIPlumbing Centre of Exeellenee Annual Plumbing Competition, held at London South Bank Technical College earlier in the year.

THE CHARTERED INStITUTION OF BUILDING SERVICES ENGINEERS ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER2025 Full list of awards CIBSE Gold Medal Derek Clements-croome. Kevin Kelly, Richard Rooley and Peterwong CIBSE Silver Medal Stanley Chow. Farah Naz. Anthony Ownsworth. Richard Peterg Bronze Medal Gary Chiang, Mahroo Eftekhari.Jonathan Grimshaw. Ruth Kelly Waskett. Helen Loomes, Laura Mansel-Thomas. Leon Markwell. Paul Marston.John McLean, David Mooney and Austin William50n Barker Sllver Medal: Matthew E Eames. Hailun Xie. Anastasia Mylona,Jake Hacker and Ruth Shilston for their paper, A revisedmorphing81gorithm forcre8tingfuture weAtherforbuildin4 performsnce ev8lu8tion. Dufton Sllver frjedal: Matthew Waterson and Gary R Hunt fortheir paper, Nightcoolingby hybridsupply ventilgtion - anAlyt￿8/pred￿t1OnS ofairflowrates8nd the hybrid ventilation tnangles. Carter Bronze Medal: Nishesh Jain, Esfand Burman and Dejan Mumovic, for the paper, CIBSE rM54 energYproject￿nsI1l.' a casestudyusingdynamic simulation with detailedsystem modelling. Napier Shaw Bronze Medal: Mariam Elnour, Ahmad M Ahmad, Shim8a Abdelkarim, Fodil Fadli and Khalid Naji for the paper, Empoweringsm8rt cities with digit8ltwins ofbuildings.. applications andimplementstion cOn￿der￿tiOnS ofdats-driven energymodellingin building management. Brian M099 Fan Makers Award: Daniel Godoy-shimizu. Ivan Korolija. Yair Sehwartz and Dejan Mumovic, for the paper, ProducingdomestK energybenehmArks usinga large disaggregate stockmodel. Ken Dale Travel Bursgry: Joint winnerg- Klaudia Rudzionek and Charlotte Hodgson SLL Young Lighter of the Year: Lucie Kohakova Leon Gaster Award: Myriam Aries and Femke Beute et al for trNo papers, The relationship of light exposure to sleep outcomes amongoffice workers. Part 7.. Workingin the Offi￿ versus athome before andduringthe COVIDPandem￿. and The relationship oflightexposure to sleep outcomes amongoffiee workets. P8rt2.. Compsrison ofd8yS Wlth and withoutSOCl81 constr8intA Walsh Weston Award: Belal Abboushi et al. for the paper. Predictingdiscomfort fromglare withpedestnan scale lighting.'A comparison ofcandidate models usingfourindependent datasets. 41

THE CHARTERED INStITUTION OF BUILDING SERVICES ENGINEERS ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER2025 Building Simulation Award: Zahra Jahed Bozorgan Young Modeller.. Soumya Uttam SFE Fa¢ade Design and Engineering Awards Project of the Year- Sustainability (UK}.' Wintech for Eden. A3 New Bailey Project of the Year- Sustainability (International).. Luchinger Meyer Partner for Fa¢ade Re9tor8tion Project of the Year- Refurbishment IUKI-. Buro Happold for The Whiteley Projeet of the Year- Refurbishment Ilntemationall- Arup for the Museum of Anthropology Project of the Year- New Build IUKI.. FMDC Ltd for Cadence. King's Cross Project of the Year- New Build Ilnternational).. Maffeis Engineering SpA for Zardini Project of the Year- Special Struetureg.. geele ISI PTE Project of the Year- Innovation {UK)'. Buro Happold for Sadler s Wells East Project of the Year- Innovation {International)-. Eckersley O'callaghan for Banquet Hall, The Henderson Best Digital Innovation of the Year: Ramboll UK Limited for FAME {FaGade Access & Maintenance Engine) Product of the Year- Zurich Soft Robotics for Solskin Dis$ert8tion of the Year.. Jacob Wotton for, The imp8Ctof the BuildingSafetyActon suppliers 8ndmanuf8eturers in the UK Young FaFade Engineer of the Year= Mitch Albarran. Arup Lifetime Achievement Award- Simon Webster (posthumouslyl, founding member of FMDC Building Performance Awards Building Performance Champion= The Entopia Building- Max Fordham. Architype & BDP Best Digital Innovation- Organisational Strategy= Cyclops- Foster * Partners 42

THE CHARTERED INStITUTION OF BUILDING SERVICES ENGINEERS ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER2025 Best Digital Innovation- Project Delivery= Sydney Airport International Terminal T1 Chilled Water Plant Optimisation - A.G. Coombs Group, Exergenies Building Performance Consultancy lover 300 employees1= AtkinsRéalis Building Performance Consultancy lup to 50 employees)= Cyclone Energy Group Building Performance Consultancy151- 300 employees).. XC02 CIBSE Embodied Carbon Award- Products and Systems for Manufacturers and Suppliers.. Apollo Fire Detectors CIBSE Embodied Carbon Award - Services and Projects for Consult8nt9: Q Sustain Client of the Year.. London Borough of Islington Collaboration- L&G s Symphony Model - Legal & General. Demand Logie, Bellroek and Partnerg Engineer of the Year.. Volkgn Doda, Head of Design Technologie$- Atelier Ten Faeilitles Management.. 20 Fenehurch Street- Savills Leadership.. Swire Propertie9 Learning and Development.. The ZERO teaching and internship programme on zero-carbon energy buildings - ZERO Institute, University of Oxford Product or Innovation of the Year- Air Quality.. The Pluvo Column - Pluvo Product or Innovation of the Year- Thermal Comfort.. Optimum Air Conditioning Sygtem - EcoTechX Product or Innovation of the Year- Wellbeing= Nature Connect- Signify Project of the Year- Residential: Agar Grove Ib- Max Fordham Project of the Year- Retrofit Workplaees: The EntOPl8 Building- Max Fordham, Architype & BDP Project of the Year- New Build Workplaces.. Globe Point. Temple- Hoare Lea Project of the Year- Portfolio Workplaces-. Cathedral Hill Industrial Estate, 13 units- SRE

THE CHARTERED INStITUTION OF BUILDING SERVICES ENGINEERS ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER2025 MENA Awards MEP Building Performance Award.. Buro Happold for t￿yadh Office Fit-out Post Occupancy Evaluation MEP Project of the Year: Ramboll for Jumeirah Marsa Al Arab Mechanical Project of the Year.. Ramboll for Jumeirah Marsa Al Arab Electrical Project of the Year: WSP Middle East for Desert Rock Resort Plumbing Project of the Year. Dcserve Equipment Trading LLC Sustainable Project of the Yegr.. Arup for Masdar City Net Zero Energy Mosque Retrofit Project of the Year.. Cundall for Al Maryah Tower Smart Project of the Year.. Meinhardt for Banque Migr FaFade Project of the Year: GHD for DXV Vertiport Sustainable Lighting Project of the Year: Trilux for Dubai Airport Freezone {DAFZAI Data Centre Project of the Year- Meinhardt for Banque Misr Graduate of the Year.. Alreem Alfahim- Arup MEP Young Engineer of the Year: Dhvrnni Ajit A$har- Buro Happold Mechanical Engineer of the Year.. Samima Saqib- Arup Electrical Engineer of the Year.. Dan Ehrald - RED Engineering Design Plumbing Engineer of the Year: Nagarajan Thanumorthy- National Engineering Bureau Consultants Sustainability Engineer of the Year: Priscilla Jane Joseph- Zutari Middle East Manufacturer or Supplier Engineer of the Year- Umamahesh Lakamana - Maico Gulf LLC Executive of the Year- Manufacturer and Supplier.. Sheik Azaz Ahmed- Trilux Executive of the Year- Contractor= Dipak Jain- BK Gulf

THE CHARTERED INStITUTION OF BUILDING SERVICES ENGINEERS ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER2025 Executive of the Year- Consultancy= Nicholas Byczynski - AESG MEP Consultancy ofthe Year: WSP Middle East MEP Contractor of the Year.. Alemeo Manuf8eturerlSupplier of the Year- Technology Excellence: SKM Manufacturerlsupplier of the Year- Sustainability Impact.. Hira Walraven Metsl Industries LLC Best Digital Innovation Initiative of the Year.. Quo-Design- Driving Operational Excellence- Oasis Coils & Coatings Embodied Carbon Initl8tive of the Year- Manufacturers and Suppliers.. CVS Novenco Embodied Carbon Initiative of the Year- Congultants.. Ramboll Innovative Lighting Product of the Year.. Yonos- Trilux Digital Innovation of the Year- UniveTSlties= Heriot-watt University Dubai Campus digital twin and dashboard POC for improved sustainability standards Sustainable Initiative- Universities: Classroom to Climate Action- Manipal Academy of Higher Education Dub81

THE CHARTERED INStITUTION OF BUILDING SERVICES ENGINEERS ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER2025 Future plans CIBSE'S plans for 2026 focus on strengthening its intemational impacL increasing the visibility and influence of its membership, deepening engagement with policy, and positioning the Institution to respond proactively to future trends shaping the built environment.The programme builds on CIBSE'S role as an evidence-led, public-interest organisation, ensuring its guidance. advocacy and collaborations remain relevant. timely and internationally credible. We lead International priorities In 2026, CIBSE will place increased emphasis on non-UK regional initiatives, recogniging the growing importance of regional policy contexts. Climate conditions and market needs. Activity will focus on topics of high relevance across Tegions, including weather files, adaptations of TM65, the Internet of Things IloT) and Al, and retrofit.The$e themes will support both regional technical activity and engagement with local policy agenda9. A key priority will be the delivery of outputs from the two new international working groups on sustainable cooling and Al, with a clear pathway fortheir transition into Special Interest Groupg. This will ensure continuity, sustained engagement and long-tem impact beyond initial projeet outputs. To support this work. targeted engagement with Regions will be strengthened. CIBSE will lead engagement with Regions to identify and respond to local policy priorities, as well as focusing on knowledge exchange. including the use of case studieg such as the Hong Kong IOT example to inform guidance and ￿gional activity. Poliey leader$hlp CIBSE will implement a structured govemment engagement plan aligned with its priority policy themes.. net zero transition, housing, skills and digital innovation. Through this, CIBSE will continue to lead with engineering evidence, shaping policy discussions where building services expertise is critical. Alongside strategic engagemenL CIBSE will have a strong voice in response to the domestic policy developments, including government announeements such as the Budget, the Future Homes Standard and related regulatory changes.This will ensure CIBSE remains a trusted and timely technical voice in national policy debates.

THE CHARTERED INStITUTION OF BUILDING SERVICES ENGINEERS ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER2025 Future trendg and knowledge leadership A major leadership initiative for 2026 will be the establighment of CIBSE Futureg, designed to identify. explore and communicate future trends across the industry and the profession.This initiative will help CIBSE anticipate emerging challenges and opportunities. informing strategy, guidance and advocacy. CIBSE will continue working closely with the Knowledge Management Committee to adopt more proactive approach to revision of existing technical guidance and new knowledge production, identifying and prioritising projects in advance to support timely delivery. There will be an increased focus on data-based guidance and tools. using data analysis to strengthen knowledge outputs and evidence-based advocacy. A key component ofthis work will be the continued development of TM65. including implementation of a commercial plan. sectoral and regional expansion, and the development of databases and benchmarking to support embodied carbon agsessment We empower Empowering members and professionol communities CIBSE will take forward targeted activity to raise the profile of its members and profesgional discipline5. In 2026, particular emphasis will be placed on electrical engineers, highlighting their essential role in the electrification of the built environment. This will be supported through a focused public ￿latIOnS campaign and the revision of Guide K. CIBSE will also focus on the domestic sector. highlighting technical considerations through campaigns focused on retrofit, addressing issues such as thermal comfort. indoor air quality and performanee outeome$.These eampaign$ will support praetitioners with evidenee, technologies and best practice to deliver $afe and effective ￿trOfit solutions. Empowering collaboration and partnerships Collaboration will be a core enabler of impact in 2026. CIBSE will work with partners on shared policy objectives. such as the regulation of embodied carbon (including proposals around Part Zl, and on industry-led initiatives. including increased uptake of the UK Net Zero Carbon Buildings Standard. Internationally, CIBSE will explore and strengthen collaboration with non-UK bodies. ineluding REHVA and its members. and ASHRAE,to enable knowledge exchange, alignment and collective influence on global ehallengeg. 47

THE CHARTERED INStITUTION OF BUILDING SERVICES ENGINEERS ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER2025 CIBSE will also strengthen collaboration with its non-UK Regions, supporting delivery. capacity-building and two-way knowledge exehange between eentral teams and regional networks. We champion Supporting engineers into CIBSE membership and professional registration remains at the centre of what we do. In 2026 we will Continue our vital work on the building safety agenda and launching the contextualised Higher-Risk Building$ IHRBI Register. We will continue to enhance our engagement with companies and elevate our work across the MENA, Hong Kong, Ireland and ANZ Regions, ensuring we build strong relationships and grow our membership. In 2026. our work in CIBSE Academic Accreditation and Training and Development will maintain high standards and practical support for Students, academics and engineers, while expanding across our non-UK Regions. We wlll eontinue to inerease engagement with CIBSE'S non-UK Regions to promote membership and accreditation and approval of international academic programme9, training and development $cheme$ and CPD courses. New roleg have been appointed in the CIBSE MENA and Hong Kong Regions. strengthening our relationships with key companies with a focus on providing bespoke solutions to getting their staff professionally registered. We wlll eontinue to provide high quality gupport to our volunteers through the launch of network handbooks, relevant policies and an ongoing focus on inductions and development, providing support and guidance to the CIBSE Group$, Regions and Societies 90 that they operate in the most effective manner. We will eontinue to promote and eelebrate the activitie$ delivered in sehools to promote building Services through CIBSE'S STEM Amba$s8dor programme. We inspire In 2026. CIBSE will further strengthen its focus on member-led insight and purposeful engagement across the Regions. Work will prioritise supporting members at key career moments, $trenEthening understanding of profe$$ional pathways, and continuing to present CIBSE ag an authoritative, accessible and globally relevant Institution. Building on the successful launch of CIBSE'S refreshed brand in early 2026. the Marketing and Communications Team will foeus on fully embedding and strengthening the brand.

THE CHARTERED INStITUTION OF BUILDING SERVICES ENGINEERS ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER2025 In 2026, we will increase our presence in the trade press through articles and opinion pieces, alongside interviews with CIBSE spokespeople across industy podeasts and specialist publications. Working closely with the Technical Team. CIBSE will deliver a programme of communications campaigns showcasing CIBSE'S teehnieal expertise to memberg, policymaker$. industry $takeholder$ and the wider public. translating complex guidance into clear. engaging and accessible narratives that demonstrate real-world impact. We will also work to inerea5e CIBSE'5 global visibility by seeuring interviews. artieles and thought leadership opportunities in regional and international trade press. By collaborating Closely with CIBSE'S intemational regions and partners, we will amplify the Institution's influence and ensure its expertise is reeognised worldwide. 49

THE CHARTERED INStITUTION OF BUILDING SERVICES ENGINEERS ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER2025 Certification CIBSE Certification Ltd {Certificationl, a wholly owned subsidiary of CIBSE, offers certification services covering personnel, management systems, buildings, and products for the built environment It exists to help achieve CIBSE'S vision of safe and better performing buildingg. In a challenging year. sales and contributions exceeded 2024's performance of £1 million for only the second time since 2008. Certification is unique in two respects. Firstly. it is the sole provider of UKAS accredited Energy Performance Certificate {EPCI and Display Energy Certificate IDECI Assessor competency gehemes. Secondly, it is the sole administrator of NABERS UK, and the only provider of CIBSE verified TM65 data for mechanical. electrical and plumbing IMEPI products. Customers range from multinationals to sole traders across property companies. building owners and managers, manufacturers, engineering. and energy consultancies. Certification leads the way in asse$$ing and certifying competent personnel, ISO compliant management systems, NABERS UK building ratings, and CIBSE TM65 Embodied Carbon IECVI environmental product claims. Feedback from stakeholders e.g. MHCLG, United Kingdom Accreditation Setvice IUKASI, and eustomers, was glowing in terms of eompetenee and serviee delivery, with the majority of the quality agsuranee audits being undertaken internally. Feedback from registrants was univer9ally positive with recognition of technical expertise, brand, and customer service given as key reasons for choosing Certification's seThices. Organisations involved with NABERS UK overwhelmingly recognise improvements to the NABERS UK scheme since CIBSE took on the administration. with significant growth combined with positive feedback on Certification's technical expertise. Manufacturers using CIBSE TM65..2021 to calculate embodied earbon for their MEP products helped grow the ECV scheme with 10 early adopters in place. including many well-known manufacturers achieving certification for their products. Personnel schemes bu3ine$$ Certification is the sole providerof DEC and EPC EnergyAssessor Competency schemes approved by MHCLG and accredited by UKAS. Its personnel $cheme$ cover Low Carbon Con$ultsnts {LCC$). Low Carbon Energy As$e$sor$ ILCEAS) for non-domestic EPCS, DECs,Air Conditioning Inspectors IACII, ESOS Lead Assessors, Heat Netrlorks Consultants and Section 63 Advisors for Scotland. The Low Carbon Consultants and Low Carbon Energy Assessors forthe production of Energy Performance Certificates IEPCS) and Display Energy Certificates IDECS) Schemes are approved by MHCLG and aeeredited to BS EN ISOIIEC 17024..2012 Confompityassessment- Generalrequirements forbodies oper8tingcertificgbon ofpersons by UKAS. The annual

THE CHARTERED INStITUTION OF BUILDING SERVICES ENGINEERS ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER2025 audits undertaken by both MHCLG and UKAS were completed successfully, with positive comments from both. Overall, personnel schemes registration numbers. excluding NABERS UK assessors. have remained steady with new applications matching cancellations despite the sluggish market for commercial properties. Lodgement credit sales decreased by 6% over 2024 with a reduction in lodgement credits driven by reduced commercial property tr8n$8ction$ and lower demand for EPC$ and DECS. Management systems business Certification Certifies organisations to management systems standards i.e. ISO 9001 Quslity management. ISO 14001 Environmentalm8nggemen¢ ISO 45001 occupat￿n8/heaIth and saletyand ISO 50001 Energymanagement. Management systems business is accredited by UKAS to BS EN ISOIIEC 17021..2015 Confon77ity&7ssessment- required for bodies Providing audit and certification of management systems by UKAS with ISO 45001 added in September 2024. Business perfomance dipped to 2023 levels in 202S. with revenue impacted by the largest customers undergoing surveillance rather than certification audits. fewer new sites coming on board, and delayed transfer of eustomers from other certification bodies. NABERS UK Certification celebrated its fir$t-year anniversary as NABERS UK administrgtor in April, offering Design for Performance {DfP) and Energy for Offices IEfOI for buildings, and training, supervision. and registration for personnel. NABERS UK work is now fully undertaken by internal fesources and the novation of contracts from BRE has been completed. Sales have grown Significantly over the last year with $ale$ of Dfp &g￿eMentS and NABERS UK training performing strongly. mitigating the revenue ￿ductIon from management ￿$temS and lodgements sales. While it is early days for Efo ratings. significant growth was evident in 2025. and the excellent work done to link the scheme to UKNZCBS is likely to lead to accelerated growth in 2026. Embodied Carbon Verification IECV) This unique scheme, launched in late 2024, provides assurance for data generated by manufacturers to calculate embodied carbon associated with their products using CIBSE TM65. The ECV scheme is supported by well-known manufacturers. including Mitsubishi Electric. Fujitsu, Crane, and Grundfos. and had over 500 products certified by the end of the year. Products certified by the scheme are varied and include heat pump$, air handling sy$tem$, ducts, water valves. and water conditioners.The scheme is promoted by a growing number of engineering consulting organisations who specify ECV as a requirement for MEP in the absence of Environmental Product Declarations. 51

THE CHARTERED INStITUTION OF BUILDING SERVICES ENGINEERS ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER2025 The launch of the ECV registsr in the fourth quarter of 2025 firmly established the scheme, with growing interest from manufacturers, consultants, and LCA software providers in CIBSE verified data. This regulted in a significant increase in leads. with the groundwork in place to ensure a rapid expansion of the scheme in 2026. www.cib ertification. 52

THE CHARTERED INStITUTION OF BUILDING SERVICES ENGINEERS ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER2025 Members of the Board and Council With effect from CIBSE AGM 10 June 2025: President- Vince Arnold President Elect: Dave Cooper Vice President.. Mike Burton Vice President.. David Stevens Vice President.. Mark Walker Honorary Treasurer.. Les Copeland Immediate Pagt President.. Fiona Cousins Elected Members of the Board: Peter Anderson Sasha Krstanovie Vincent Ma Dejan Mumovic Ted Pilbeam Qualifled Speeialigts Edith Blennerhassett Eimear Moloney Chief Executive Officer Ruth Carter Members of the Consultative Couneil All Board members are al30 members of Council. Elected Members Peter Anderson Jon Belfield Darren Copping Jennifer Cox Sasha Krstanovic Bobo Ng Geraldine O'Farrell Emeka Osaji Sophie Parry Pagt Presidents Adrian Catehpole Kevin Mitchell Other CIBSE Representatives: EC{UKI Board.. Andrew Rowe 53

THE CHARTERED INStITUTION OF BUILDING SERVICES ENGINEERS ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER2025 Engineer of the Year- Volkan Di)da Fellows Network: Mike Burton Nominations Panel.- Tony Day Iviee Chair) YEN Mentor.. Andrew Saville Young Engineers Network.. Max Mccone WIBSE.. Jessiea Glynn Standing Committee Chair9 Education, Training and Membership= Andrew Rowe Equity. Diversity and Inclusivity.. Fiona Cousins Groups and Societies.. Vince Arnold Knowledge Management Committee: Eimear Moloney Professional Conduct Committee.. Doug King Regional Liaison Committee.. Dave Cooper Technology Committee= Robert Redfern Soclety Repregentatlveg Patrons.. Josh Emerson Society of Digital Engineering.. Michael Bartyzel Society of Faoade Engineering.. Kenneth Zammit Society of Light and Lighting.- Kristina Allison Society of Public Health Engineers.. Michael Carter Soeiety of Vertieal Transportation.. Michael Bottomley Special Interest Group Chairs ASHRAE.. David Green Building Simulation.. Ben Abel Data Centres.. Austin Williamson Daylight.. John Mardaljevie Education Buildings.. Richard Daniels Electrical Services.. Leon Markwell Energy Performance.. Emeka Osaji Facilities Management.. David Stevens Healthcare.. Mark Walker Heat Networks.. Huw Blackwell HeritaEe and Retrofit.. Andrew More Homes for the Future.. Tom Lelyveld HVAC Systems.. Philip Draper Intelligent Buildings= Yangang Xing IT and Controls.. Jon Belfield Natural Ventilation.. Christopher Iddon Resilient Cities.. Darren Woolf Sustainability- Katie Clemence-jackson

THE CHARTERED INStITUTION OF BUILDING SERVICES ENGINEERS ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER2025 Regional Chairs Australia & New Zealand.. Mark Davie East Anglia.. Luke Goldfinch East Midlands.. Simon Maher Home Counties North East.. David Perry Home Counties North West.. Dimple Rana Home Countie$ South East.. Stevèn Peet Home Counties South West= Ruth Tatanga Hong Kong.. Ethan Poon Republic of Ireland.. Laura Mcmahon MENA (Middle East and North Africal- Imran Shaikh Mersey9ide & North Wales.. Daniel Whitley Northern Ireland.. Conor Gallagher North East.. Neil Rooney North West.. David Glover Seotland.. Damien Kane South Wales.. lan Thomas South West.. Carla Bartholomew Southern.. Christopher Hodgson West Midlands.. Anil Chandla Yorkshire.. Graham Etherington

THE CHARTERED INStITUTION OF BUILDING SERVICES ENGINEERS ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER2025 Financial Review The Institution's Annual Accounts are presented to comply with the Charities Act 2011. its Royal Charter and By-Laws. and to meet all applicable accounting standards including the Statement of Recommended Practice Accounting and Reporting by Charities and the Financial Reporting Standard applicable in the UK and Republic of Ireland (Charities SORP FRS 1021. Investments are shown at market value. and the Annual Accounts incorporate the asgetg, liabilities, income and expenditure of the Regions. The resultg of the Ingtitution's eommerei81 gubsidiaries. CIBSE SeNices Limited, CIBSE Certification Limited, The Chartered Institution of Building Services Engineers Hong Kong Limited. CIBSE EMEA Seminars Organiging Services LLC SOC are incorporated into the Congolidated Accounts. CIBSE EMEA Seminars Organiging SeThice$ LLC SOC ICIBSE EMEAI was incorporated in Dubai in 2025. CIBSE EMEA is the corporate body for undertaking the activities of conferences and events in the Dubai region and is a IO0% subsidiary of CIBSE Service Limited. Total income for 2025 was £11.01 million, representing an increase of circa £0.45 million over 2024 (excluding profits on disposal of assets). In a Challenging global environment. most revenue streamg across the Group improved in 2025. Members subscription income, which ig our principal source of income grew, by £0.4 million from 2024 levels. 2025 a190 saw the successful roll-out of the updated weather data bringing extra revenue of circa £0.35 million over 2024 levels. A9 a direct result of additional activity and following inflationary pres9ureg, expenditure increased over the year to £10.95 million from £I0.I million in 2024. The Executive maintain9 focus on improving margins wherever possible, without impacting furthergrowth. The overall result of the above was a $urplu$ before gains on inve9tment$ of £130k, compared with a gain of £6.85 million in the p￿ViOus year12024'$ results were after accounting for a profit on disposal of the Balham site for É6.3 million). Unfavourable global market condition$ saw a lo$$ on investments in 2025 of £12Ok, compared to 8 gain of £63k in 2024. Trustees manage investment ri$k through an agreed policy and risk appetite, with a £2.2m diversified listed portfolio managed professionally and reviewed regularly, incorporating ethical and ESG considerations which are consistent with the institution's purpose. The pengion scheme showed a surplus position in the 2024 triennial valuation. Due to this, and following the pursuit of a derisked investment strategy, the Institution is no longei making payments into the scheme. The Group cash balanee decreased to É2.3 million in 2025 from £3.2 million in 2024, predominantly due to increased investment in the premises at Saffron Hill. The Trustees registered the Institution with the Fundraising Regulator in 2024. to aid in preparation for raising funds for the Saffron Hill refit {premises relocation project}. The institution appointed a fundraising consultancy to approach certain companies. trusts and

THE CHARTERED INStITUTION OF BUILDING SERVICES ENGINEERS ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER2025 individuals linked to the building services environment. Donations were obtained from the trusts, companies and individuals to the amount of £316k in 2025.The trustees have reviewed forthcoming fundraising arrangements and are satisfied that appropriate policies and controls will be in place to ensure compliance with the Charities SORP and relevant regulation. Reserveg Policy The Institutions, reseNes have been set to mitigate against financial risk faced by the organisation, including unforeseen interruptions to operations. possible ghortfalls in budgeted income and to ensure all commitments can be met. The Reserves Policy seeks to clearly calculate the target level of reserves. suitable to mitigate the inherent risk 8990Clated with the Institutions'operations. Where the reserves deviate from the target, plans will be made to bring the balance back in line with the desired reserve. Cash generated from members. subscriptions remains consistent across the years. However, regerve$ provide reassurance that ghould our cornme￿191 entitieg not generate the contribution as anticipated through the strategy. the organisation will continue to meet its obligations. The Trustees have set 8 Free ReseNes target to c¢)ver two month9 Qverheads, two months staff costs and one month of other cos At the year end. total reserves of the Group were ÉIO.18m12024'. É10.17ml. The Group held free reserves of £6.95m12024.' £6.9ml againsta target of£l.58m12024'. £1.58ml, being the amount of funds available excluding restricted funds of £0.16m12024'. £0.18ml and de9ignated funds of É1.9m12024'. £2.Oml, and less reserves held as functional fixed 89sets (assets considered egsential to the delivery of the charity's aims- this being predominantly IT equipment and capitalised software) of Él.4m12024.. É1.3ml. During 2024, the Tnjstees decided to sell the charity's previous premises in Balham for a profit of £6.3m Isee note 8). A decision was then made to use the profits realised from the sale of the Balham property to purchase and develop new premises in Saffron Hill. Farringdon, London. As at 31 December 2025 the cost of the new premises (including fit out costs) was É8.8m. Given the office at Saffron Hill's prime location. and the significant profit realised in the sale of the Balham premises. it is envisaged that realising free reserves through the sale of Saffron Hill would be easily achievable. It is for this reason that the premises value of Saffron Hill is included in free reserves. It is also felt that keeping reserves in Saffron Hill is a better. lower risk option than selling the premises and investing funds in fixed term investments and holding more cash. It is for this reason that the Trustees are satisfied with retaining ownership of Saffron Hill and keeping the free reserves surplus at its current level. Any decision on the use of reserves rests with the Board on the advice ofthe Honorary Treasurer and the Finance. Risk. Audit and Governance Sub Committee IFRAGI. 57

THE CHARTERED INStITUTION OF BUILDING SERVICES ENGINEERS ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER2025 Going Concern Whilst consideringthe adoption of going concern forthe Group.theTrustees take into account a number of factors incltlding key risks facing the organisation, budgets and ongoing forecasting. cashflow forecasts. including Sensitivity 8nalysi$, and short and long-term liquidity. The Group's revenues continue to In¢￿8$e with $ubstantial growth experienced across all areas. Membership income. which accounts for almost half of the Group's revenues, is up £500k on the previou$ year.The Institution continued to work hard to demon$trate member benefits, and this was supported through aceess to substantial and essential knowledge provided by CIBSE, and an ever-growing presence in key government consultations. The Institution also owng. in its entirety. the freehold premises from which it operates at 91- 94 Saffron Hill. The Group conducts ongoing. detailed foreeastg and cashflow analysis to agsesg liquidity and is eonfident that there are adequate regourees to meet obligations falling due within the next 12 month9 and will continue to drive growth forthe fo￿Seeable future. It is for the above reasons that the Trusteeg continue to congider CIBSE a going eoncern. Ri9k Management It Is the responsibility of the Board, as Trustees of the Institution. to examine the major operational and bu9ine$s ri9k$ which the Institution faceg and to establish appropriate sygtem$ to manage any Signifieant rigks. Risk ig ag$e8sed as part of the consideration of all new projects, and the Finance. Risk, Audit & Governance Sub Committee IFRAGI 1$ charged with the detailed examination of the Institution's Risk Register. FRAG reviews the risk register at all four of its meetings to ensure a watching brief 1$ kept and agile planning is in place. This review has identified and a$ses$ed the major risks faced by the Institution and confiftned that appropriate Control systems have been established to manage those risks. The Trustees have identified possible changes in market conditions as a key risk. This risk is greatest where it impacts the Group's Commercial entities, ability to support the activities of the Parent Charity. Regular forecasting and financial management,along with a watching brief and strong relationships with key stakeholders within the industry. help the institution plan for any sueh changes and what mitigation is needed. Structure. Governance and Management The Chartered Institution of Building Services Engineers is govemed by its Royal Charter and By-Law$, which were awarded irb 1976 and last amended in 2010, when they we substantially Streamlined by the removal of many former By-Laws into a new Set of Regulations. Further Changes to the By-Laws and Regulations Concerning Officer and Board

THE CHARTERED INStITUTION OF BUILDING SERVICES ENGINEERS ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER2025 Member nominations, appointments and elections were approved in General Meeting during 2018. The members of the Board of the Institution are the Trustee$ of the Charity. The Board is composed of the Officers of the Institution {the President, the President ElecL the three Vice Presidents, the Honorary Trea$urer and the Immediate Past President) and five additional members who are elected for a three-year term of office. The office of President is filled automatically by the previous year's President Elec¢ with the office of Immediate Past President being filled by the previous year's President. Under new rules approved during 2018, the Vice Presidents and the HonoraryTreasurer are appointed by the Board, whilst the President-Elect position remains subject to election. The Nominations Sub-committee is required to nominate candidates to the Board each year for the forthcoming v8cancie9 for President Elect. the appointments of Honorary Treasurer and Vice President and for upcoming members of the Board. All newly appointed Trustees are provided with an Induction Pack containing ￿levant information on their role, including Charity Commission guidance on Trustee9' responsibilities. In addition, training on Trustees, regpon$ibilities 1$ carried out annually. The Board meets five times each year to direct the business of the Institution and ig assisted bythe House & Remuneration Sub Committee (which deals with terms and conditiong of employment of the Chief Executive and senior staff and 8d hoc i$sueg1 and the Finance. Risk, Audit & Governance Sub-committee Iwhich deals with budgeting, management and financial accounts, audit. risk and governance issues). The Standing Committee9 of the Institution (the Education,Training & Membership Committee, Technology Committee, Professional Practices Committee, Knowledge Management Committee and the Regional Liaigon Committee) report to the Board and have delegated authority within their sphere9 Qf activity. Governance and the review of processes and documentation is central to activities and interactions across CIBSE. with the results of reviews and initiatives regularly consulted on and reported to the FRAG Committee. Major progress has been made towards regular, ongoing and iterative review of processes and documents in order to ensure that they are brought and kept up to date and in line with changing regulation and practice. The requirements for document version control across CIBSE has been investigated and a new system will be introduced. CIBSE Services Limited. one of two of the Institution's trading subsidiaries. is governed by Directors, appointed by the Board of the Institution, who meet regularly to monitor and direct its activities. The purpose of CIBSE Services Limited is to generate income for the Institution through the development and operation of commercial activities which are 59

THE CHARTERED INStITUTION OF BUILDING SERVICES ENGINEERS ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER2025 aligned with and support the objectives of the Institution. The Chairof CIBSE Service$ Limited makes regular reports to the Board of the Institution. CIBSE Certifieation Limited, the other of the Institution's trading subsidiaries, is governed by Directors, appointed by the Board of the Institution. who meet regularly to monitor and direct its activities. The purpose of CIBSE Certification Limited is to generate income for the Institution through certification activities whieh are aligned with and support the objeetives of the Institution. The Directors of CIBSE Certification Limited report to the Finance. Risk. Audit and Governance Sub Committee of the Institution. The Chartered Institution of Building Services Engineers Hong Kong Ltd is a company limited by guarantee registered in Hong Kong. It was e$t8bli$hed to handle the operation of the CIBSE Hong Kong Region in orderto meet10¢81 legislative requirement9, and ultimate control of the eompany rests with the CIBSE Board through the appointment of its directors. The Hong Kong region otherwise operateg in the same manner a9 Other CIBSE regions. but under the auspices of this local incorporation. Key management personnel remuneration The Board is responsible for the governance and overall control of the Institution. The Chief Executive conducts the business of the Institution on a day-to-day basis undei the direction of the Board. supported by the senior management staff of the Institution. All Trustees give of their time freely and no Trustee remuneration was paid in the year. Details of trustee expenses and related party trangactions are disclosed in Note 8 to the accounts. Trustees are required to disclose all relevant interests and register them with the Chief Executive and in accordance with the Institution's policy withdraw from decisions where conflict of interest arises. The pay of the charity's Chief Executive and senior management staff is reviewed annually by the House & Remuneration Sub Committee. which is a sub-committee of the Board of Trustees comprising the President. President Elect. Immediate Past President and Honorary Treasurer. Authority is delegated to the House Sub Committee to appraise the performance of the Chief Executive and to approve any increase to the remuneration of the Chief Executive and ofthe senior management staff. A range of factors are considered in this process. including job perfomiance. price and earnings inflation, market conditions and comparisons with other professional institutions. Public benefit We have referred to the guidanee contained in the Charity Commission's general guidance on publi¢ benefit when reviewirbg our aims and objective$ and in planning our future activities. The Institution delivers publie benefit by supporting improved profe$$ional

THE CHARTERED INStITUTION OF BUILDING SERVICES ENGINEERS ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER2025 standards and outcomes in the art science and practice in built services engineering via guidance, education, trainin& and policy engagement. Trustees. respongibilitieg The Trustees are responsible for preparing the Trustees, report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted AccountinE Practice). The law applicable to Charities in England & Wales requires the Trustees to prepare finaneial statements for each financial year which give a true and fair view of the state of affairs of the Institution and the Group and of the ineoming resources and application of resourees of the Institution and the Group for that period. In preparing these financial Statements. the Trustees are reqUI￿d to.. Select suitable accounting policies and apply them consistently Observe the methods and principles in the Charities SORP Make judgements and estimates that are reasonable and prudent State whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the finaneial statements Prepare the financial statements on the going concern basis unless it 19 inappropriate to presume that the Institution and the Group will continue in operation. The Trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the Institution's transactions and that disclose with reasonable accuracy at any time the financial position of the Institution and the Group and enable them to ensure that the financial statements comply with the Charities Act 2011. They are algo responsible for safeguarding the assets of the Institution and the Group and hence for taking reasonable steps for the prevention and detection of fraud and other irregularitie3. The Trustees are responsible for the maintenance and integrity of the corporate and financial information included on the Institution and the Group's website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions. Approved by the Board ofTru$tee$ and signed on its behalf by= Vince Arnold President 2025- 2026 61

THE CHARTERED INStITUTION OF BUILDING SERVICES ENGINEERS ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER2025 Independent Auditors Report Opinion We have audited the financial statements of the Chartered Institution of Building Services Engineers Ithe"parent charity-l and its subsidiaries {the"group") for the year ended 31 December 2025 which comprise the Consolidated Statement of Financial Activities, the Consolidated and Institution Balance Sheets. the Consolidated Statement of Cash Flow9 and notes to the financial statements. including significant accounting policies. The financial reporting framework that has been applied in their Preparation is applicable law and United Kingdom Accounting Standards. including Financial Reporting Standard 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice). In our opinion the financial statements.. give a twe and fair view of the state of the group's and of the Pa￿nt charity'g affairs a9 at 31 December 2025 and of the group's incoming resourceg and application of resourees, including its ineome and e¥penditUTe for the year then ended have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice have been prepared in accordance with the requirements of the Charities Act 2011. Basis for opinSon We conducted our audit in accordance with International Standardg on Auditing IUKI IISA9 IUKII and applicable law. Our regponsibilitie$ under tho$e $t8ndard$ are further described in the Auditor's responsibilities for the audit of the financial statements section of our report. We are independent of the group in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC'g Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion. Conclusions relating to going concern In auditing the financial statements, we have concluded that the Trusteeg, use of the going concern basis of accounting in the preparation of the financial statements is appropriate. Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the group or parent charity's ability to continue as a going concern for a period of at least twelve months from when the financial ststements are authoriged for issue. Our responsibilities and the responsibilities of the Trustees with respect to going concern are described in the relevant sectiong of this report. 62

THE CHARTERED INStITUTION OF BUILDING SERVICES ENGINEERS ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER2025 Other information The Trustees are responsible forthe other information contained within the annual report. The other information comprises the information ineluded in the annual report, other than the financial $tatement$ and our auditorfs report thereon. Ouropinion on the financial statements doe$ not coverthe other information and we do not express any form of assurance conclusion thereon. Our responsibility is to read the other information and. in doing so, consider whether the other information is materially ineon$istent with the financial $tatements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material ineon31Stencie$ or apparent material misstatements, we are required to determine whether thi9 gives rise to a material mis9tatement in the financial ststements themselves. If, based on the work we have performed,we concltAde that there 19 a material misstatement of thig other information. we are required to report that facL We have nothing to ￿pOrt in this regard. Matterg on which we ore required to report by exception We have nothing to ￿pOrt in regpect ofthe following matters in relation to which the Charities IAeeounts and Reports) Regulations 2008 require ug to report to you if. in our opinion.. the information given in the finaneial statements 1$ ineonsistent in any material re9pect with the Trustees. report: or sufficient accounting records have not been kept by the parent charity., or the financial statement3 are not in agreement with the accounting records and returns., or we have not received all the information and explanations we require for our audit Responsibilities of Trustees As explained more fully in the Trustees, responsibilities statement set out on page 61. the Trustees are responsible for the preparation of the financial statements and for being satisfied that they give a true and fairview, and for such internal control 89 the Trugtees determine is necessary to enable the p￿ParatIon 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 group's and the parent charity's ability to continue as a going concern. disclosing. as applicable. matters related to going concern and using the going concern bagis of accounting unless the Trustees either intend to liquidate the charity orto cease operationg. or have no realistic alternative but to do so. 63

THE CHARTERED INStITUTION OF BUILDING SERVICES ENGINEERS ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER2025 Auditor's regpongibilities for the audit of the financial statements We have been appointed as auditor under section 151 of the Charities Act 2017 and report in accordan¢e with the Act and relevant regu13tions made or having effeet thereunder. Our objectives are to obtain reasonable assurance about whetherthe financial statements as a whole are free from material misstatement, whetherdue to fraud OT error, and to issue an auditor's report that includes our opinion. Rea$onable a$$urance 1$ a high level of assurance. but is not a guarantee that an audit conducted in accordance with ISA5 IUKI will always detect a material misstatement when it exists. Mi$$tatement$ Can arise from fraud or error and are eonsidered material if. individually or in the ag£￿g￿te. they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements. Details of the extent to which the audit wag considered capable of detecting irregularities. ineluding fraud and non-compliance with laws and regulations are set out below. A further description of our regponsibilitieg for the audit of the finaneial Statements is located on the Financial Reporting Council'$ website at.. .This description forms part of our auditor's report. Extent to which the audit was considered capoble of detecting irregularitie9. including fraud Irregularities, including fraud. are instances of non-compliance with lawg and regulations. We identified and assessed the risks of material misstatement of the financial statementg from irregularities, whether due to fraud or error, and discussed these between our audit team members. We then designed and performed audit procedures responsive to those risks, including obtaining audit evidence sufficient and appropriate to provide a basis for our opinion. We obtained an understanding of the legal and regulatory frameworks within which the charity and group operates, focusing on those laws and regulations that have a direct effect on the determination of material amountg and disclo$ure$ in the financial statementg. The laws and regulation5 we considered in this context were the Charities Act 2011 together with the Charities SORP IFRS 1021. We assessed the required compliance with these laws and regulations as part of our audit procedures on the related financial statement items. In addition. we considered provi$ion$ of other laws and regulations that do not have a direct effect on the financial statements but compliance 5Vith which might be necessary to the group's ability to operate or to avoid a material penalty. Auditing standards limit the required audit procedures to identify non-compliance with these laws and regulations to enquiry of the Trustees and other management and inspection of regulatory and legal correspondence. if any.

THE CHARTERED INStITUTION OF BUILDING SERVICES ENGINEERS ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025 We also considered the opportunities and incentives that may exist within the group for fraud. We identified the greatest risk of material impact on the financial statements from irregularities, including fraud. to be within the timing of recognition of income and the override of controls by management. Our audit procedures to respond to these risks ineluded enquiries of management and the Finance. Risk. Audit and Governance Committee about their own identification and assessment of the risks of irregularities. sample testing on the posting of journals and income, reviewing regulatory correspondence with the Charity Commission, and reading minutes of meetings of those charged with governance. Owing to the inherent limitations of an audit, there is an unavoidable risk that we may not have detected some material misstatements in the financial statements. even though we have properly planned and performed our audit in accordance with auditing standards. For example, the further removed non-compliance with laws and regulations lirregularitiesl 18 from the events and transactions reflected in the financial statements. the less likely the inherently limited procedures required by auditing standards would identify it. In addition, as with any audit, there remained a higher risk of non-detection of irregularities. as these may involve collusion. forgery. intentional omissions, misrepresentations, or the override of internal controls. We are not responsible for preventing non-compliance and cannot be expected to detect non-compliance with 811 laws and regulations. Uge of our report This report is made solely to the charity's Trustees. as a body. in accordance with Part 4 of the Charities (Accounts and Reports) Regulations 2008. Our audit work has been undertaken so that we might state to the charity's Trustees those matters we are required to state to them in an auditor's report and for no other Purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charity and the charity's Trustee3 as a body, for our audit work, for this report, or for the opinions we have formed. .QLk Ilf Crowe U.K. LLP statutory Auditor London Dat•= 28th Aprll 2026 Crowe U.K. LLP is eligible for appointment as auditor of the charity by virtue of its eligibility for appointment as auditor of a company under section 1212 of the Companies Act 2006.

THE CHARTERED INSTITUTION OF BUILDING SERVICES ENGINEERS

CONSOLIDATED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2025

		**Unrestricted **	Restricted	**Total **	**Unrestricted **	Restricted	Total
		Funds	Funds	2025	Funds	Funds	2024
	Note	£	£	£	£	£	£
INCOME FROM:
Donations and legacies		315,585	-	315,585	-	-	-
Charitable activities
Members' subscriptions		5,109,620	60,348	5,169,968	4,640,913	62,215	4,703,128
Fees receivable for charitable services	3	808,353	15,195	823,548	933,174	4,350	937,524
Other trading activities
Trading subsidiary companies		4,635,834	-	4,635,834	4,818,529	-	4,818,529
Investments
Investment income	4	138,691	-	138,691	177,537	-	177,537
Sale of assets
Profit on disposal of assets	4	-	-	-	6,301,654	-	6,301,654
		------------	------------	------------	------------	------------	------------
Total income		11,008,083	75,543	11,083,626	16,871,807	66,565	16,938,372
		------------	------------	------------	------------	------------	------------
EXPENDITURE ON:
Raising funds
Trading subsidiary companies		3,810,170	-	3,810,170	3,623,654	-	3,623,654
Charitable activities					-	-
Membership		3,129,424	-	3,129,424	3,185,562	-	3,185,562
Technical		1,602,482	106,089	1,708,571	1,073,566	42,348	1,115,914
Regional & special interest groups		1,821,726	-	1,821,726	1,740,324	-	1,740,324
Research		484,461	-	484,461	427,354	-	427,354
Premises Relocation Project		-	-	-	-	-	-
		------------	------------	------------	------------	------------	------------
Total expenditure	5	10,848,263	106,089	10,954,352	10,050,460	42,348	10,092,808
		------------	------------	------------	------------	------------	------------
Net income before gains on
investments		159,820	(30,546)	129,274	6,821,347	24,217	6,845,564
Net (loss)/gain on investments	10	(120,422)	-	(120,422)	62,875	-	62,875
		------------	------------	------------	------------	------------	------------
Net income		39,398	(30,546)	8,852	6,884,222	24,217	6,908,439
Other recognised gains and losses
Actuarial gain /(loss) on defined
benefit pension scheme	20	-	-	-	(30,000)	-	(30,000)
Net movement in funds		39,398	(30,546)	8,852	6,854,222	24,217	6,878,439
Fund balances brought forward at 1
January		9,991,863	181,097	10,172,960	3,137,641	156,880	3,294,521
		------------	------------	------------	------------	------------	------------
31 December		10,031,261	150,551	10,181,812	9,991,863	181,097	10,172,960
		------------	------------	------------	------------	------------	------------

All amounts relate to continuing activities.

The notes on pages 69 to 91 form part of these financial statements.

66

THE CHARTERED INSTITUTION OF BUILDING SERVICES ENGINEERS

CONSOLIDATED AND INSTITUTION BALANCE SHEETS AS AT 31 DECEMBER 2025

----- Start of picture text -----
||||||| |---|---|---|---|---|---| |Group|The Institution| |2025|2024|2025|2024| |Note|£|£|£|£| |Fixed assets| |Tangible assets|8|9,037,160|8,590,262|9,004,239|8,520,330| |Investments|10|2,233,656|2,354,078|2,233,660|2,354,082| |--------------|--------------|--------------|--------------| |Total fixed assets|11,270,816|10,944,340|11,237,899|10,874,412| |--------------|--------------|--------------|--------------| |Current assets| |-|-|-| |Stocks of publications|8,872| |Debtors|12|1,846,013|1,932,934|1,403,197|1,486,257| |Cash at bank and in hand|2,316,160|3,240,349|2,049,761|2,464,349| |--------------|--------------|--------------|--------------| |Total current assets|4,162,173|5,182,155|3,452,958|3,950,606| |Liabilities| |Creditors: Amounts falling due within one year|13|(3,083,935)|(3,489,129)|(3,076,206)|(3,370,187)| |--------------|--------------|--------------|--------------| |Net current assets/(liabilities)|1,078,238|1,693,026|376,752|580,419| |--------------|--------------|--------------|--------------| |Total assets less current assets/(liabilities)|12,349,054|12,637,366|11,614,651|11,454,831| |Creditors: Amounts falling due after more than one| |14|(2,167,242)|(2,464,406)|(2,167,242)|(2,464,405)| |year| |Defined benefit pension scheme asset|19|-|-|-|-| |--------------|--------------|--------------|--------------| |Total net assets|10,181,812|10,172,960|9,447,409|8,990,426| |--------------|--------------|--------------|--------------| |The funds of the charity| |Restricted Funds|15|150,551|181,097|150,551|189,654| |Unrestricted funds| |General fund|16|8,137,614|7,997,665|7,403,211|6,806,574| |Designated funds|16|1,893,647|1,994,198|1,893,647|1,994,198| |--------------|--------------|--------------|--------------| |Total charity funds|19|10,181,812|10,172,960|9,447,409|8,990,426| |--------------|--------------|--------------|--------------|

----- End of picture text -----

Approved and authorised for issue on behalf of the Board of Trustees on 21 April 2026

Vince Arnold Les Copeland President

The notes on pages 69 to 91 form part of these financial statements.

67

THE CHARTERED INSTITUTION OF BUILDING SERVICES ENGINEERS

CONSOLIDATED STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 DECEMBER 2025

	Note	2025	2024
		£	£
Cash inflows from operating activities:
Net cash provided by operating activities	I	(41,314)	949,146
		------------	------------
Net cash flow from investing activities:
Income from investments		138,691	177,537
Purchase of property, plant and equipment		(727,730)	(8,444,749)
Sale of property, plant and equipment		-	6,771,000
		------------	------------
Net cash used in investing activities		(589,039)	(1,496,212)
		------------	------------
Cash flows from financing activities
Cash outflows for repayment of borrowing		(293,837)	(5,516)
Cash inflows from new borrowing		-	2,500,000
		------------	------------
Net cash provided by/(used in) financing activities		(293,837)	2,494,484
		------------	------------
(Decrease)/Increase in cash in the year	II	(924,189)	1,947,418
Net cash funds at 1 January		3,240,349	1,292,931
		------------	------------
Net cash funds at 31 December		2,316,160	3,240,349
		------------	------------
Notes to the cash flow statement
I. Reconciliation of net income to net cash flow from operating activities
Net income for the reporting period (as per the
Statement of Financial Activities)		8,852	6,908,439
Net loss/(gain) on investments/assets		120,422	(62,875)
Profit on disposal of assets		-	(6,301,654)
Investment income		(138,691)	(177,537)
Depreciation		280,832	(50,478)
Decrease in stocks of publications		8,871	14,037
Decrease in debtors		86,921	50,867
(Decrease) / Increase in creditors		(408,521)	566,347
		------------	------------
Net cash provided by operating activities		(41,314)	947,146
		------------	------------
II. Analysis of changes in net funds excluding term deposits
	At	Cash	At
	01/01/2025	Flows	31/12/2025
	£	£	£
Short term deposits_(deposited on 24 hour notice)_	1,643,540	(533,056)	1,110,484
Cash at bank and in hand	1,596,809	(391,133)	1,205,676
	-------------	-------------	-------------
Total cash and cash equivalents	3,240,349	(924,189)	2,316,160
	---------------	-------------	-------------

The notes on pages 69 to 91 form part of these financial statements.

68

THE CHARTERED INSTITUTION OF BUILDING SERVICES ENGINEERS

NOTES TO THE ACCOUNTS

1 GENERAL INFORMATION

The Chartered Institution of Building Services Engineers is a charity registered in England and Wales, registration number 278104. It is governed by its Royal Charter and By-laws which were awarded in 1976 and last amended in 2010. The registered office is 91-94 Saffron Hill, London, EC1N 8QP.

2 ACCOUNTING POLICIES

The principal policies adopted, judgements and key sources of estimation uncertainty in the preparation of the financial statements are as follows:

2.1 Basis of accounting

The financial statements have been prepared under the historical cost convention with items recognised at cost or transaction value unless otherwise stated in the relevant note(s) to these financial statements. The financial statements have been prepared in accordance with Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019) - (Charities SORP (FRS 102)), the Financial Reporting Standard applicable in the UK and Ireland (FRS 102) and the Charities Act 2011.

The Chartered Institution of Building Services Engineers meets the definition of a public benefit entity under FRS 102.

2.2 Going concern

Having reviewed the Group’s forecasts and cashflow projections, the Trustees believe there to be no material uncertainties about the Group’s ability to continue as a going concern. The Trustees believe this will be aided by recent and upcoming changes to regulation within the construction industry, in view of the Group’s ability to influence those changes and assist in that transition, alongside significant reductions to the Group’s cost base.

The Trustees believe there is adequate cash and liquid investments to meet their liabilities as they fall due for a least a year from the date of the signing of these accounts. As such the Trustees continue to adopt the going concern basis for the preparation of the annual financial statements.

The most significant areas of judgement and key assumptions that affect the items in the financial statements relate to the estimation of the defined benefit pension scheme’s assets and liabilities (see Note 2.17 and Note 20).

2.3 Financial statements of the Institution and its trading subsidiaries

The financial statements include the consolidation of CIBSE Services Limited, CIBSE Certification Limited and The Chartered Institution of Building Services Engineers Hong Kong Limited (CIBSE Hong Kong Limited), all wholly owned subsidiaries of the Institution.

No separate Statement of Financial Activities has been presented for the Institution. The results of the Institution for the year ended 31 December 2025 are included in Note 17.

69

THE CHARTERED INSTITUTION OF BUILDING SERVICES ENGINEERS

NOTES TO THE ACCOUNTS

2 ACCOUNTING POLICIES (continued)

2.3 Financial statements of the Institution and its trading subsidiaries (continued)

The Institution has taken advantage of the disclosure exemption permitted by FRS 102 of the requirements of Section 7 Statement of Cash Flows to not disclose a charity-only Statement of Cash Flows.

2.4 Funds

The Institution has divided its funds into categories according to their nature and purpose as follows:

Unrestricted funds

Funds available for the Institution to pursue all of its objectives under its Royal Charter and comprise:

General fund

This represents the undesignated accumulated surpluses from funds available for the general objectives of the Institution.

Designated fund

Funds designated to pursue a particular objective or group of objectives under the Royal Charter and comprise:

Research Fund

This fund has the objectives of raising and designating funds for the purpose of enabling research to advance the art, science and practice of building services engineering.

Education Fund

CIBSE established this fund with the objective of raising and designating funds to enable CIBSE to further education in the art, science and practice of building services engineering.

Richard Tully Family Publication Fund

This fund was established by the designation of a gift from Richard E J Tully, with the objective of funding awards to encourage the continued publication of good engineering practice in the profession of building services engineering.

Domestic Building Services Panel Fund

This fund has the objectives of raising and designating funds for the purpose of enabling research to advance the art, science and practice of building services engineering for Domestic Heating publications.

Society of Light and Lighting Fund

This fund has the objective of funding the operations of the Society of Light and Lighting Fund.

Ken Dale Fund

This fund was established following receipt of a legacy from past president Ken Dale designated to advance the art, science and practice of building services engineering in his name.

Graham Manly Fund

This fund was established following receipt of a legacy from past president, Graham Manly. The fund has been designated for the use and promotion of Building Services Engineering in schools.

Liz Peck Fund

This fund was established following receipt of a legacy from past Society of Light and Lighting (SLL) president, Liz Peck. The fund has been designated to be used to inspire and educate young adults and those at the earlier stages of their lighting career and will be managed by the SLL.

70

THE CHARTERED INSTITUTION OF BUILDING SERVICES ENGINEERS

NOTES TO THE ACCOUNTS

2 ACCOUNTING POLICIES (continued)

2.4 Funds (continued)

Restricted funds

These funds have been received by the Institution with specific restrictions on their use within the objectives of its Royal Charter and comprised:

Patrons Fund

This fund was formed to provide a base for financing activities of concern to the building services industry as a whole, for which adequate funds were not available within the unrestricted funds of the Institution, and to provide liaison between the Institution and its members with the commercial organisations involved in building services engineering.

2.5 Branches, groups and regions

The activities of branches, groups and regions, together with their assets and liabilities are incorporated within these accounts.

2.6 Income

Subscriptions

Subscriptions due are treated as income for the periods to which they relate. Subscriptions received in respect of future years are carried forward in the financial statements as deferred income until the relevant subscription year.

Legacies

Legacies are included in the Statement of Financial Activities where probate was granted prior to the balance sheet date and a distribution is considered probable and the amount can be reliably estimated.

Donations and grants

Donations are recognised on a cash basis and grants are included in the financial statements when receivable.

Volunteers

CIBSE as an organisation relies heavily on its volunteers to allow it to carry out the wide variety of work that it does, across a range of fields within building services. Attempting to provide such in-depth knowledge for an industry as diverse as building services is an enormous undertaking, and would be impossible without the hundreds of experts who give their time and resources to the Institution and work to remain on the forefront of technology.

Carrying out a variety of roles on a voluntary basis for CIBSE, from contributing to technical papers, to serving on the board and deciding strategy, to helping at events and with media requests, the volunteers give substantial resources at a time when the industry has never been more stretched. However, as it is impractical to place a monetary value on the volunteers' contribution due to the absence of a reliable measurement basis, the contribution of volunteers are not included as income in the financial statements.

Fees received for charitable services

These represent amounts receivable in respect of goods and services during the year, which are recognised when the goods and services are exchanged or service performed.

Investment income and gains

Investment income, including any tax recoverable thereon, is included in the financial statements in the year in which they are receivable. Investment gains and losses are incorporated in the financial statements as they occur. Unrealised gains and losses arising from the valuation of investments, together with any movements in such gains are separately identified within the financial statements.

71

THE CHARTERED INSTITUTION OF BUILDING SERVICES ENGINEERS

NOTES TO THE ACCOUNTS

2 ACCOUNTING POLICIES (continued)

2.7 Expenditure

Expenditure is accounted for on an accrual basis and is recognised where there is a legal and constructive obligation to pay for the expenditure.

Charitable expenditure comprises expenses incurred on the defined charitable purposes of the Institution. Cost of raising funds comprises expenses incurred in enhancing and maintaining the public image of the Institution and expenditure incurred in trading activities that raise funds.

Governance costs comprise expenses incurred in the governance of the Institution and its assets and are primarily associated with constitutional and statutory requirements.

Each category includes direct expenses and staff costs, together with an allocation of overhead costs based on a combination of direct staff costs and activity levels.

2.8 Tangible fixed assets

Freehold land is not depreciated. The charity separately identifies the major components of its properties and charges depreciation so as to write down the cost of each component to its estimated residual value on a straight line basis over its expected useful life.

The useful lives are as follows:	Building structure	50 years
	Doors	30 years
	Windows	10 years
Other tangible fixed assets:	Computer equipment	3 - 5 years
	Fixtures & fittings	5 years

2.9 Investments

Listed investments are a form of basic financial instrument and are initially recognised at their transaction value and subsequently measured at their fair value as at the balance sheet date using the closing quoted market price. The Statement of Financial Activities includes the net gains and losses arising on revaluation and disposals throughout the year.

Unlisted investments comprise investments in subsidiaries which are measured at cost less impairment.

A source of financial risk faced by the charity is that is that of volatility in equity markets and investment markets due to wider economic conditions, the attitude of investors to investment risk, and changes in sentiment concerning equities, particularly currency risk, and within particular sectors or sub sectors.

72

THE CHARTERED INSTITUTION OF BUILDING SERVICES ENGINEERS

NOTES TO THE ACCOUNTS

2 ACCOUNTING POLICIES (continued)

2.10 Impairments

Assets not measured at fair value are reviewed for any indication that the asset may be impaired at each balance sheet date. If such indication exists, the recoverable amount of the asset, or the asset's cash generating unit, is estimated and compared to the carrying amount. When the carrying amount exceeds it's recoverable amount, an impairment loss is recognised in the Statement of Financial Activities unless the asset is carried at a revalued amount where the impairment loss is a revaluation decrease.

2.11 Financial Instruments

The company only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value with the exception of bank loans which are subsequently measured at amortised cost using the effective interest method.

A financial asset is derecognised only when the contractual rights to cash flows expire or are settled, or substantially all the risks and rewards of ownership are transferred to another party, or if some significant risks and rewards of ownership are retained but control of the asset has transferred to another party that is able to sell the asset in Its entirety to an unrelated third party. A financial liability (or part thereof) is derecognised when the obligation specified in the contract is discharged, cancelled or expires.

2.12 Stocks

Finished stocks relate to technical publications and are stated at the lower of cost and net realisable value. Cost comprises the price of purchasing, printing, binding and compilation.

2.13 Debtors

Trade and other debtors which are receivable within one year and which do not constitute a financing transaction are initially measured at the transaction price. Trade debtors are subsequently measured at amortised cost, being the transaction price less any amounts settled and any impairment losses.

A provision for impairment of trade debtors is established when there is objective evidence that the amounts due will not be collected according to the original term of the contract. Impairment losses are recognised in the statement of financial activities for the excess of the carrying value of the trade debtor over the present value of the future cash flows discounted using the original effective interest rate. Subsequent reversals of an impairment loss that objectively relate to an event occurring after the impairment loss was recognised, are recognised immediately in the statement of financial activities.

2.14 Cash at bank and in hand

Cash at bank and in hand include cash and short term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit.

2.15 Creditors

Creditors and provisions are normally recognised at their settlement amount after allowing for any trade discounts due.

2.16 Holiday pay accruals

A liability is recognised to the extent of any unused holiday pay entitlement which has accrued at the balance sheet date and carried forward to future periods. This is measured at the undiscounted salary cost of the future holiday entitlement so accrued at the balance sheet date.

73

THE CHARTERED INSTITUTION OF BUILDING SERVICES ENGINEERS

NOTES TO THE ACCOUNTS

2 ACCOUNTING POLICIES (continued)

2.17 Pension contributions

The Institution operates a non-contributory pension scheme providing benefits based on final pensionable salary. The assets of the scheme are invested with an insurance company and are totally separate from those of the Institution. This scheme was closed to new members in 1999. The Institution has fully adopted the disclosures set out in section 28 of FRS 102. The difference between the fair value of the assets held in the Institution's defined benefit pension scheme and the scheme's liabilities measured on an actuarial basis using the projected unit method are recognised in the Institution's Balance Sheet as a pension scheme asset or liability as appropriate. The carrying value of any resulting pension scheme asset is restricted to the extent that the Institution is able to recover the surplus either through reduced contributions in the future or through refunds from the scheme.

Changes in the defined benefit pension scheme asset or liability arising from factors other than cash contributions by the Institution are charged to the Statement of Financial Activities in accordance with section 28 of FRS 102. The Institution contributes to a stakeholder pension scheme operated by Aviva and is open to all employees. The annual contribution payments are charged to the Statement of Financial Activities.

2.18 Taxation

The Institution is registered as a charity, registration number 278104, and in consequence it is exempt from taxation on income arising from and expended on its charitable activities.

2.19 Foreign currencies

Transactions in foreign currency are recorded at the rate ruling at the date of the transaction. Monetary assets and liabilities are translated at the rate of exchange ruling at the balance sheet date. All differences are taken to the Statement of Financial Activities.

2.20 Judgements and key sources of estimation uncertainty

Estimates and judgements are continually evaluated and are based on historical experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. There are no estimates and assumptions that are considered to have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year.

74

THE CHARTERED INSTITUTION OF BUILDING SERVICES ENGINEERS

NOTES TO THE ACCOUNTS

3 DONATIONS INCOME AND CHARITABLE SERVICES INCOME

Fees receivable for charitable services for the year is derived from:

	Unrestricted funds	Restricted **funds **	Total 2025	Unrestricted funds	Restricted funds	Total 2024
	£	£	£	£	£	£
Training delegate fees	98,513	15,195	113,708	73,362	4,350	77,712
Publications	4,458	-	4,458	13,039	-	13,039
Societies sponsorship fees	36,320	-	36,320	7,601	-	7,601
Grants and royalties	235,071	-	235,071	142,400	-	142,400
Sundry	433,991	-	433,991	696,772	-	696,772
	------------	------------	------------	------------	------------	------------
	808,353	15,195	823,548	933,174	4,350	937,524
	------------	------------	------------	------------	------------	------------

4 INVESTMENT INCOME

Investment income for the year is derived from:

	Unrestricted funds	Restricted **funds **	Total 2025	Unrestricted funds	Restricted funds	Total 2024
	£	£	£	£	£	£
Listed investments	68,812	-	68,812	66,833	-	66,833
Cash deposits	69,879	-	69,879	110,704	-	110,704
Defined Benefit Pension
	-	-	-	-	-	-
Scheme Interest
	------------	------------	------------	------------	------------	------------
	138,691	-	138,691	177,537	-	177,537
	------------	------------	------------	------------	------------	------------

Sale of assets

During the year ended 31 December 2024 the Group sold the property it had held based in Balham, for a surplus of £6.3m. This surplus was used to purchase the new property in Saffron Hill.

75

THE CHARTERED INSTITUTION OF BUILDING SERVICES ENGINEERS

NOTES TO THE ACCOUNTS

5 EXPENDITURE

EXPENDITURE
	Staff	Other	Staff	Other
	Direct	Direct	Support	Support	2025	2024
	Costs	Costs	Cost	Cost	Total	Total
	£	£	£	£	£	£
Expenditure on raising funds
Trading subsidiary companies	1,737,942	2,072,228	-	-	3,810,170	3,623,654
Expenditure on charitable activities
Membership	811,704	277,265	1,058,116	982,339	3,129,424	3,185,561
Technical	377,671	381,513	492,322	457,065	1,708,571	1,115,913
Regional & special interest groups	354,038	577,710	461,514	428,464	1,821,726	1,740,323
Research	104,770	116,320	136,575	126,796	484,461	427,357
	-----------	------------	-----------	-----------	------------	------------
	3,386,125	3,425,036	2,148,527	1,994,664	10,954,352	10,092,808
	-----------	------------	-----------	-----------	------------	------------

6 SUPPORT COSTS

The support costs have been allocated on the following basis:

		2025	2024
Support cost	Basis of allocation	£	£
Administration staff and welfare	Staff costs	2,148,527	1,973,912
Temporary staff, recruitment & consultants	Direct allocation to projects	98,946	196,581
Meeting costs	Direct allocation to projects	92,632	129,120
Office costs	Total number of employees	300,575	301,763
Premises	Area occupied basis	427,030	179,151
IT	Direct allocation to projects	548,511	460,467
Legal & professional fees	Direct allocations to projects	62,208	167,551
Depreciation	Direct allocation to projects	220,018	89,635
Bad debt	Actual	74,612	(20,696)
Marketing	Direct allocation to projects	63,738	72,260
		------------	------------
		4,036,797	3,549,744
		------------	------------
Governance costs	Basis of allocation
Auditor's remuneration - statutory audit	Direct allocation to projects	31,872	40,533
AGM & annual report cost	Direct allocation to projects	20,591	46,030
Board costs	Direct allocation to projects	30,205	65,371
Trustees expenses	Direct allocation to projects	23,726	19,127
		------------	------------
		106,394	171,061
		------------	------------

76

THE CHARTERED INSTITUTION OF BUILDING SERVICES ENGINEERS

NOTES TO THE ACCOUNTS

7 STAFF COSTS

STAFF COSTS
	2025	2024
	£	£
Wages and salaries	4,422,981	3,867,490
Training, travel and recruitment	289,741	213,133
Temporary staff and agency fees	32,633	152,413
Social security costs	559,102	433,510
Pension costs:
Defined contribution pensions	230,195	246,799
	------------	------------
	5,534,652	4,913,345
	------------	------------
The average number of employees during the year, who were all engaged in the
activities of the Institution and its subsidiaries, was:	79	70

The key management personnel of the parent charity, the Institution, comprise the Trustees, the Chief Executive Officer and the senior management team. Total employee benefits of key management personnel for the year under review were £1,289,412 (2024: £1,158,199). No Trustee received remuneration in 2025 or 2024.

None of the Institution's wholly-owned subsidiaries employ staff directly. As a result, the key management personnel and their aggregate employee benefits for the group is the same as the Institution as disclosed above.

The number of employees earning total emoluments of £60,000 or more:

£60,001 to £70,000	9	5
£70,001 to £80,000	2	1
£80,001 to £90,000	1	3
£90,001 to £100,000	-	2
£100,001 to £110,000	1	2
£110,001 to £120,000	3	1
£120,001 to £130,000	2	2
£200,001 to £210,000	1	1
£300,001 to £310,000	1	1

Contributions in the year for provision of the pension schemes in respect of key senior management personnel amounted to £73,075 for 8 staff (2024: £74,088 for 9 staff).

During the year, five termination payment of £76,665 were made (2024: £28,972.)

77

THE CHARTERED INSTITUTION OF BUILDING SERVICES ENGINEERS

NOTES TO THE ACCOUNTS

8 TANGIBLE FIXED ASSETS

TANGIBLE FIXED ASSETS
	Freehold	Computer	Furniture &
	Property	Equipment	Equipment	Total
Group
	£	£	£	£
Cost
Balance at 1 January 2025	8,158,022	1,378,240	390,816	9,927,078
Additions	623,791	94,137	9,802	727,730
Disposals	-	-	-	-
	------------	------------	------------	------------
Balance at 31 December 2025	8,781,813	1,472,377	400,618	10,654,808
	------------	------------	------------	------------
Accumulated depreciation
Balance at 1 January 2025	6,976	1,075,261	254,579	1,336,816
Charge for the year	113,320	138,548	28,964	280,832
Disposals	-	-	-	-
	------------	------------	------------	------------
Balance at 31 December 2025	120,296	1,213,809	283,543	1,617,648
	------------	------------	------------	------------
Net book value
At 31 December 2025	8,661,517	258,568	117,075	9,037,160
	------------	------------	------------	------------
At 31 December 2024	8,151,046	302,979	136,237	8,590,262
	------------	------------	------------	------------

78

THE CHARTERED INSTITUTION OF BUILDING SERVICES ENGINEERS

NOTES TO THE ACCOUNTS

9 TANGIBLE FIXED ASSETS (continued)

	Freehold	Computer	Furniture &
Institution	Property	Equipment	Equipment	Total
	£	£	£	£
Cost
Balance at 1 January 2025	8,158,022	706,217	386,134	9,250,373
Additions	623,791	70,175	9,803	703,769
Disposals	-	-	-	-
	------------	------------	------------	------------
Balance at 31 December 2025	8,781,813	776,392	395,937	9,954,142
	------------	------------	------------	------------
Accumulated depreciation
Balance at 1 January 2025	6,976	472,917	250,150	730,043
Charge for the year	113,321	77,690	28,849	219,860
Disposals	-	-	-	-
	------------	------------	------------	------------
Balance at 31 December 2025	120,297	550,607	278,999	949,903
	------------	------------	------------	------------
Net book value
At 31 December 2025	8,661,516	225,785	116,938	9,004,239
	------------	------------	------------	------------
At 31 December 2024	8,151,046	233,300	135,984	8,520,330
	------------	------------	------------	------------

79

THE CHARTERED INSTITUTION OF BUILDING SERVICES ENGINEERS

NOTES TO THE ACCOUNTS

10 FIXED ASSETS INVESTMENTS

	Group		The Institution	The Institution
	2025	2024	2025	2024
	£	£	£	£
Balance as at 1 January	2,354,078	2,291,203	2,354,082	2,291,207
Purchase of units	-	-	-	-
Sale of units	-	-	-	-
Net gains on investments
Gains on sale of investments	-	-	-	-
Net (loss)/ gain on revaluation at 31 December	(120,422)	62,875	(120,422)	62,875
	------------	------------	------------	------------
Balance as at 31 December	2,233,656	2,354,078	2,233,660	2,354,082
	------------	------------	------------	------------
Investments are made up of:
Listed investments	2,233,656	2,354,078	2,233,656	2,354,078
Trading subsidiaries:
100% interest in CIBSE Services Limited	-	-	2	2
100% interest in CIBSE Certification Limited	-	-	2	2
100% interest (100% Group / 50% The Institution) in The
Chartered Institution of Building Services Engineers Hong
Kong Limited	-	-	-	-
	------------	------------	------------	------------
	2,233,656	2,354,078	2,233,660	2,354,082
	------------	------------	------------	------------
The historical cost of listed investments are:
Listed Investments cost at 1 January	2,243,476	2,243,476	2,243,476	2,243,476
Less: sale of units	-	-	-	-
Add: Purchase of units	-	-	-	-
	------------	------------	------------	------------
Listed Investments cost at 31 December	2,243,476	2,243,476	2,243,476	2,243,476
	------------	------------	------------	------------

The listed investments are managed on behalf of the Institution by CCLA Investment Management Limited.

The significance of financial instruments to the ongoing financial sustainability of the Institution is considered in the investment powers section of the Trustees' Annual Report. The basis of fair value for listed investments is equivalent to the market value, using the mid-market price.

80

THE CHARTERED INSTITUTION OF BUILDING SERVICES ENGINEERS

NOTES TO THE ACCOUNTS

11 TRANSACTIONS WITH TRUSTEES AND RELATED PARTY TRANSACTIONS

The Trustees of the Institution are the members of Board, who are drawn, from time to time, from the membership of the Institution. No member of Board received any remuneration or benefits-in-kind for their duties as Trustees (2023: Nil).

Members of the Board of Trustees are reimbursed for travelling and other expenses whilst engaged on the activities of the Institution.

of the Institution.
	2025	2024
Reimbursements were made as follows:	£	£
Reimbursed to 6 Trustees (2024: 10 Trustees)	23,726	19,127
	------------	------------

Under the terms of the Royal Charter & Bylaws, the Institution is empowered to make reasonable and proper payments to members for services actually rendered to the Institution. This power includes Trustees, in their capacity as members of the Institution. In their capacity as members of the Institution, Trustees are obliged to pay annual subscriptions due to the Institution and are entitled to take advantage of the services offered by the Institution and its subsidiary company, on the same terms offered to all members, or to the general public. Where members or their connections provide services to, or utilise any other services or facilities of the Institution, the amounts paid to or charged by the Institution are based on either:

• Standard rates paid by the Institution to members and non-members alike, for services such as lecturing or interviewing of candidates; or

• Rates negotiated on behalf of the Institution, independently of the member involved, by the Board, or their delegated committee, based on competitive tenders or general commercial rates.

During the year, the Institution is aware that payments have been made by the Institution for commercial services provided to it, or charges made by the Institution for utilising other services or facilities of the Institution, by certain Members of the Board of Trustees, or their connections, as follows:

During 2025, there was £650 paid to a Trustee, Vincent Arnold, in relation to fees paid in support of the Building Safety Act Course development and Presentation (2024: £5,265 paid to Vincent Arnold for fees in relation to fees paid in support of the Building Safety Act Course development and Presentation).

As at 31 December 2025, CIBSE owed £6,516 to the CIBSE Benevolent Fund Trust (2024: CIBSE owed £73,743), a related party by virtue of the Fund's objectives to provide support to members or former members of CIBSE and their immediate dependants of such persons. The following transactions took place during the year:

	2025	2024
	£	£
Administration fee charged to the Benevolent Fund	2,884	2,884
Payments made on behalf of the Benevolent Fund
Expenses	2,366	2,107
Grants	1,749	-
Amounts received on behalf of the Benevolent Fund
Donations	28,962	46,473

81

THE CHARTERED INSTITUTION OF BUILDING SERVICES ENGINEERS

NOTES TO THE ACCOUNTS

11 TRANSACTIONS WITH TRUSTEES AND RELATED PARTY TRANSACTIONS CONTINUED

As at 31 December 2025, CIBSE owed £661,080 to CIBSE Services Ltd (2024: CIBSE owed £604,760), a related party as a wholly owned subsidiary. The following transactions took place during the year:

	2025	2024
	£	£
Amount received under gift aid from Services	1,001,949	471,622
Overheads recharged to Services	309,663	252,132
Amount paid to Services for development and content of the Knowledge Portal	208,546	184,415
Amount received for staff costs	1,737,942	1,560,257

As at 31 December 2025, CIBSE was owed £728,824 from CIBSE Certification Ltd (2024: CIBSE was owed £496,416), a related party as a wholly owned subsidiary. The following transactions took place during the year:

	2025	2024
	£	£
Amount received under gift aid from Certification	150,352	48,454
Overheads recharged to Certification	103,221	84,044
Amount received for staff costs	542,768	441,190

As at 31 December 2025, there was no outstanding balance with CIBSE Hong Kong Ltd (2024: balance was also Nil), a related party as the Institution is an ultimate controlling party. The following transaction took place between the parties during the year:

	2025	2024
	£	£
Annual regional grant paid to CIBSE Hong Kong Limited	72,542	56,074

As at 31 December 2025, CIBSE owed £50,800 (2024 : £nil) to CIBSE EMEA Seminars Organizing Services L.L.C. S.O.C., a related party as the Institution is an ultimate controlling party.

82

THE CHARTERED INSTITUTION OF BUILDING SERVICES ENGINEERS

NOTES TO THE ACCOUNTS

12 DEBTORS

	Group		The Institution	The Institution
	2025	2024	2025	2024
	£	£	£	£
Trade debtors	1,088,566	1,089,301	343,781	490,888
Amounts owed by group undertakings	-	-	728,824	496,416
Prepayments and accrued income	577,361	415,231	279,975	196,719
Other debtors	180,086	428,402	50,617	302,234
	------------	------------	------------	------------
	1,846,013	1,932,934	1,403,197	1,486,257
	------------	------------	------------	------------

13 CREDITORS: AMOUNTS DUE WITHIN ONE YEAR

	Group	Group	The Institution	The Institution
	2025	2024	2025	2024
	£	£	£	£
Trade creditors	156,737	206,809	128,929	140,776
Amounts owed to group undertakings	-	-	782,124	639,893
Accruals	453,293	363,703	390,125	263,644
Deferred income: amounts received in advance
for subscriptions & services	2,057,790	2,249,669	1,546,979	1,777,039
Taxation and social security	152,740	108,285	(1,633)	30,930
Other creditors	221,569	522,183	187,875	479,425
Loans due within one year	41,807	38,480	41,807	38,480
	------------	------------	------------	------------
	3,083,935	3,489,129	3,076,206	3,370,187
	------------	------------	------------	------------
Deferred income
At 1 January	2,249,669	1,972,702	1,777,039	1,612,125
Amounts released to income	(2,249,669)	(1,972,702)	(1,777,039)	(1,612,125)
Amount deferred in the year	2,057,790	2,249,669	1,546,979	1,777,039
	------------	------------	------------	------------
At 31 December	2,057,790	2,249,669	1,546,979	1,777,039
	------------	------------	------------	------------

14 [CREDITORS: AMOUNTS GREATER THAN ONE YEAR]

	Group		The Institution	The Institution
	2025	2024	2025	2024
	£	£	£	£
Loans due great than one year	2,167,242	2,464,406	2,167,242	2,464,405
	------------	------------	------------	------------

83

THE CHARTERED INSTITUTION OF BUILDING SERVICES ENGINEERS

NOTES TO THE ACCOUNTS

15 RESTRICTED FUNDS – Group

Current Year			Movement in	Funds
					Balance at 31
	Balance at 1				December
	January 2025	**Income **	Expenditure	Transfers	2025
	£	£	£	£
Patrons Fund	181,097	75,543	(106,089)	-	150,551
	------------	------------	------------	------------	------------
	181,097	75,543	(106,089)	-	150,551
	------------	------------	------------	------------	------------
Prior Year		Movement in	Funds
					Balance at 31
	Balance at 1				December
	January 2024				2024
		**Income **	Expenditure	Transfers
	£	£	£	£
Patrons Fund	156,879	66,565	(33,790)	(8,557)	181,097
	------------	------------	------------	------------	------------
	156,879 ------------	66,565 ------------	(33,790) ------------	(8,557) ------------	181,097 ------------

See Note 2.4 for description of funds

84

THE CHARTERED INSTITUTION OF BUILDING SERVICES ENGINEERS

NOTES TO THE ACCOUNTS

16 UNRESTRICTED AND DESIGNATED FUNDS – Group

Current Year

Current Year
			Movement In	Funds
				Net of
				investments gain
	Balance at 1			& pension	Balance at 31
	January			scheme	December
	2025	Income	Expenditure	movement	2025
	£	£	£	£	£
Research Fund	581,423	357,341	(340,110)	-	598,654
Education Fund	66,059	408	(30,287)	-	36,180
Richard Tully Family Publication Fund	156,482	1,786	-	-	158,268
Domestic Building Services Panel Fund	425,523	50,248	(143,473)	-	332,298
Society of Light and Lighting	518,731	235,629	(204,154)	-	550,206
Ken Dale Fund	109,578	1,114	(12,000)	-	98,692
Graham Manly Fund	96,313	891	(18,236)	-	78,968
Liz Peck Fund	40,089	455	(162)		40,382
	------------	------------	------------	------------	------------
Designated Funds	1,994,198	647,871	(748,422)	-	1,893,647
General Fund	7,997,665	10,360,214	(10,099,844)	(120,422)	8,137,614
	------------	------------	------------	------------	------------
Unrestricted Funds	9,991,863	11,008,084	(10,848,266)	(120,422)	10,031,261
	------------	------------	------------	------------	------------
See Note 2.4 for description of funds					-

Prior Year

Prior Year
			Movement In	Funds
				Net of
				investments gain
	Balance at 1			& pension	Balance at 31
	January			scheme	December
	2024	Income	Expenditure	movement	2024
	£	£	£	£	£
Research Fund	393,355	295,064	(106,996)	-	581,423
Education Fund	64,177	2,315	(433)	-	66,059
Richard Tully Family Publication Fund	150,997	5,485	-	-	156,482
Domestic Building Services Panel Fund	357,427	78,729	(10,633)	-	425,523
Society of Light and Lighting	471,981	223,535	(176,785)	-	518,731
Ken Dale Fund	105,877	3,701	-	-	109,578
Graham Manly Fund	90,974	2,885	2,454	-	96,313
Liz Peck Fund	38,696	1,400	(7)	-	40,089
	------------	------------	------------	------------	------------
Designated Funds	1,673,484	613,114	(292,400)	-	1,994,198
General Fund	1,464,158	16,849,000	(7,798,367)	(2,517,125)	7,997,665
	------------	------------	------------	------------	------------
Unrestricted Funds	3,137,642	17,462,114	(8,090,767)	(2,517,125)	9,991,863
	------------	------------	------------	------------	------------

See Note 2.4 for description of funds

85

THE CHARTERED INSTITUTION OF BUILDING SERVICES ENGINEERS

NOTES TO THE ACCOUNTS

17 RESULTS OF THE INSTITUTION

	2025	2024
	£	£
Total income	7,794,134	6,476,996
Total expenditure	(7,216,729)	(6,525,228)
	------------	------------
Net income before gains on investments	577,405	(48,232)
Net gains on investments	(120,422)	62,875
	------------	------------
Net income after gains on investments	456,983	14,643
Actuarial gain /(loss) on defined benefit pension scheme	-	(30,000)
Profit on disposal of assets	-	6,301,653
	------------	------------
Net movement in funds	456,983	6,286,296
	------------	------------

86

THE CHARTERED INSTITUTION OF BUILDING SERVICES ENGINEERS

NOTES TO THE ACCOUNTS

18 TRADING SUBSIDIARIES

The Group has four wholly owned subsidiaries, CIBSE Services Limited (company registered no. 03645473) and CIBSE Certification Limited (company registered no. 06083016), which are both incorporated in the UK, The Chartered Institution of Building Services Engineers Hong Kong Limited, which is incorporated in Hong Kong and CIBSE EMEA Seminars Orgainzing Services L.L.C. S.O.C, which is incorporate in the United Arab Emirates. CIBSE Services Limited and CIBSE Certification Limited carry out various activities in pursuance of the charitable aims of the Institution and operates various commercial activities. CIBSE Services Limited and CIBSE Certification Limited donate their taxable profit to the Institution. The principal activities of The Chartered Institution of Building Services Engineers Hong Kong Limited and CIBSE Emea Seminars Orgainzing SErvices L.L.C. S.O.C. are the provision of conferences and exhibition services.

A summary of the trading results and net assets of the subsidiaries for the reporting year are shown below. Audited accounts for all of the subsidiaries are filed with their respective Registrars.

				CIBSE EMEA
		CIBSE		Seminars
	CIBSE Services	Certification	CIBSE HK	Organizing Services
	Limited	Limited	Limited	L.L.C. S.O.C.
	£	£	£	£
Turnover	3,683,605	1,060,022	173,295	162,238
Cost of sales	(2,102,040)	(787,272)	(187,135)	(126,769)
Administration expenses	(976,905)	(169,702)	-	(4,669)
	------------	------------	------------	------------
Operating profit	604,660	103,048	(13,840)	30,800
Interest receivable	10,297	-	-	-
	------------	------------	-------------	-------------
Net profit/(loss) before gift aid	614,957	103,048	(13,840)	30,800
	------------	------------	------------	------------
The aggregate of the assets, liabilities and funds was:
Fixed assets	25,985	6,795	141	-
Net current assets/(liabilities)	621,507	47,071	32,896	30,800
	------------	------------	------------	------------
Net assets	647,492	53,866	33,037	30,800
	------------	------------	------------	------------
Funds
Called up share capital	2	2	-	20,000
Reserves	647,490	53,864	33,037	30,800
	------------	------------	------------	------------
	647,492	53,866	33,037	50,800
	------------	------------	------------	------------

87

THE CHARTERED INSTITUTION OF BUILDING SERVICES ENGINEERS

NOTES TO THE ACCOUNTS

19 ANALYSIS OF CONSOLIDATED NET ASSETS BETWEEN FUNDS

Current Year
	General	Designated	Restricted	Total
	Funds	Funds	Funds	2025
	£	£	£	£
Fund balances
Fixed assets	9,037,160	-	-	9,037,160
Investments	2,233,656	-	-	2,233,656
Net current assets/(liabilities)	(3,133,202)	1,893,647	150,551	(1,089,004)
	------------	------------	------------	------------
Net assets excluding pension scheme asset	8,137,614	1,893,647	150,551	10,181,812
	------------	------------	------------	------------
Net assets including pension scheme asset	8,137,614	1,893,647	150,551	10,181,812
	------------	------------	------------	------------
Prior Year
	General	Designated	Restricted	Total
	Funds	Funds	Funds	2024
	£	£	£	£
Fund balances
Fixed assets	8,590,262	-	-	8,590,262
Investments	2,354,078	-	-	2,354,078
Net current (liabilities)/assets	(2,955,232)	1,994,198	189,654	(771,380)
	------------	------------	------------	------------
Net Assets excluding pension scheme liability	7,989,108	1,994,198	189,654	10,172,960
	------------	------------	------------	------------
Net assets including pension scheme liability	7,989,108	1,994,198	189,654	10,172,960
	------------	------------	------------	------------

88

THE CHARTERED INSTITUTION OF BUILDING SERVICES ENGINEERS

NOTES TO THE ACCOUNTS

20 CIBSE PENSION SCHEMES

CIBSE operates both a defined contribution and a defined benefit pension scheme which require contributions to be made separately to administered funds for the benefit of the employees. The defined contribution scheme was opened in November 2001 and employer contribution commenced in April 2007.

Final salary pension scheme

The defined benefit scheme has been reported under section 28 of FRS 102. The most recent actuarial valuation was at 1 April 2023 and it showed that the market value of the scheme's assets was £5,064,000.

The Trustees and the employer agreed to additional employer contributions of £150,000 p.a. until the Funding Valuation shortfall is addressed. This year no contributions have been made as the shortfall has been covered.

The number of employees in the scheme at the year end were:

	2025	2024
Active employees	-	-
Deferred pensioners	13	13
Pensioners	24	24

The financial assumptions used by the actuary to calculate the scheme liabilities under FRS 102 were as follows:

	2025	2024
Rate of increase in salaries	n/a	n/a
Rate of increase in pensions in payments accrued before 6 April 1997	3.0%	3.0%
Rate of increase in pensions in payments accrued after 6 April 1997	3.0%	3.0%
Discount rate	5.5%	5.5%
Retail price inflation	2.8%	3.2%

89

THE CHARTERED INSTITUTION OF BUILDING SERVICES ENGINEERS

NOTES TO THE ACCOUNTS

20	CIBSE PENSION SCHEMES (continued)
		2025	2024
		£'000	£'000
	Analysis of the amount charged to expenditure
	Current service cost	-	-
		-----------	-----------
	Total service cost	-	-
		-----------	-----------
	Net interest costs
	Interest income on plan assets	289	248
	Interest expense on defined benefit obligation	(149)	(132)
		-----------	-----------
	Net return	140	116
		-----------	-----------
	Total pension costs charged to the Statement of Financial Activities	140	116
		-----------	-----------
	Analysis of the actuarial loss recognised in the Statement of Financial Activities
	Actual return on plan assets, excluding interest income	45	(105)
	Experience gains and losses arising on the scheme liabilities	-	16
	Changes in assumptions underlying the present value of the scheme liabilities	(22)	59
	Effect of asset ceiling	(23)	-
		-----------	-----------
	Total actuarial gain / (loss) recognised in the Statement of Financial Activities	-	(30)
		-----------	-----------
	Analysis of the pension accounting information under FRS 102 is shown below
	Amount recognised in the Balance Sheet
	Present value of defined benefit obligation	(2,797)	(2,789)
	Fair value of plan assets	5,510	5,339
		-----------	-----------
	Net defined benefit asset	2,713	2,550
	Effect of asset ceiling	(2,713)	(2,550)
		-----------	-----------
	Recognised defined benefit asset	-	-
		-----------	-----------
	Change in defined benefit obligation
	Defined benefit obligation at beginning of period	(2,789)	(2,893)
	Current service costs	-	-
	Interest expenses	(149)	(132)
	Remeasurement arising from changes in assumptions	(22)	58
	Remeasurements arising from experience	-	16
	Benefits paid	163	162
		-----------	-----------
		(2,797)	(2,789)
		-----------	-----------

90

THE CHARTERED INSTITUTION OF BUILDING SERVICES ENGINEERS

NOTES TO THE ACCOUNTS

20 CIBSE PENSION SCHEMES ( continued)

CIBSE PENSION SCHEMES (continued)
	2025	2024
	£'000	£'000
Change in plan assets
Assets at beginning of year	5,339	5,328
Interest income	289	248
Actual return on plan assets, excluding interest income	45	(105)
Employer contributions	-	30
Benefits paid	(163)	(162)
	-----------	-----------
Assets at end of year	5,510	5,339
	-----------	-----------
Actual return on assets	334	143
Asset class split
	2025	2024
Equities	0%	0%
Property	0%	0%
Corporate Bonds	40%	39%
Gilts	40%	41%
Cash	17%	17%
Annuities	3%	3%
	-----------	-----------
	100%	100%
	-----------	-----------

91