2025-05-31-accounts

The WcodlandTrust Registered CompanyNo. 1982873 Registered Charity in E￿laThd No. 294344 Reg15tEred Charfty in No. SC038885 REPORT AND ACCOUNTS I JUNE 2024-31 MAY 2025 WOODLAND TRUST Fighting for the health of people and the planet with every tree AECOLSN4 07110ll025 COMPANIES H￿SE A10

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IThe W004Jland Trust Repori and account$ 2024-25

ThE WOOOLANDTRUST Presldent Clive Anderson T￿Stee5 Barbara, Baroness Young of Old Scone Ichairl (retired 14 June 20241 Tony Hall CBE. Lord Hall of Birkenhead Ichairl lappointed 14 June 20241 Salty Benthall (retired 13 June 20251 Andrew Bryant Dr Fay Cooke Prof. David Hill, CBE. DL {appointed 21 March 20251 Stephen Horley (retired 13 SeptembeT 20241 Drjulia Kni8hts 8riony Ne$b￿tt James Ogilvie Mark P￿￿On (retired 13 June 20251 David S8ddington Julia Smithies (retired 13 Sepiember 2024) Amber Thiara Marina Wyatt lappointed 21 March 20251 Chrisostomos Zissis Stuart Green lappointed 13 June 20251 Carol Pomfret {appninted 13 June 20251 Sandeep Kumar lappointed 26 September 20251 The trustees are also direclors and members of the cornpany. Chief executive officer Dr Darren Moorcroft The Woodland Trust was fourthd in 1972 by Kennèth WaI￿nS 08£ Henry Georgè Hurrèll MBE. and Oliver Gabriel Rossetti. It Is a registered charity. n￿berS. 294344 afbd 5C038885, and is cor6tituted as non-profft-makingcompany Itnwted byguarantee, regstered Nmber 1982873. egi5tered office.. Kempton Way. Grantham. lincolnshire. NG316LL In Scotland. the Woodland Trust operaies as Woodland Trust Scodand. In Wales. the Woodland Trust operates as Coed Caomf. The WoodL4nd Trust1080 is a regkstered tradernark. 21The WoodlaDd Trust Report and accouDt$ 2024-25

THE WOODLANDTRU5T CONTENTS FOREWORDS.................................. REPORT OF THE ￿RECroR5 FOR THE YEAR ENOEO 31 MAY 2025........-...-...........................................-............. OUR PVRPOSE.... ....... ..... ....... ¢JJR SfRATEGYTO 2030...............-..........-........-....................-................................................................ TREESAND LANDSCAPES......-................................................................. 12 BUILDING SUPPORT....-....................-...-..-.....-.-............................................................................ 19 ENA8LING......-........-................................................................................................ 24 OLIR susf￿NA8LE APPROACH............................................................................................ . 32 GOVERNANCE......................................... ...... ......... 45 FINANCIAL REVIEW..................................................... INDEPENDENT AUDITORS REPORT.............................. CONOIIOATED STATEMENT OF FINANaALACTIVITIE5...-.-.-..........-.................-........................................ 67 BALANCE SHEErs.............. CON50LIDATED CASH FLOWSTATEME14T............................................................................ .... ...... NOTESTO THE ACCOUNTS....................-.................................................................................................. JIThe Woodland Trvsc Aepori and accounts 2024-?5

FOAEWORDS FOREWORDS A message from our chief executive officer: Dr Darren Moorcroft I wite this foreword fresh frorn the Groundswell Festfval. where i.oc(I people gathered in a field in Hertfordshire to share their enthusiasm for regenerative a8ricutture, all morivated by the deslre to do things better. Farrni￿ accounts for 70% ofthe UVS land arèa. and the Woodland Trusfs acceleratiThg work on agrofore5try has been a defintng therne of the last 12 month5. We helped to integrate tens ofthou5ands of trees into farm systems in 2024-25. planted 200km of hedgerow, and developed our lon8Stanth'n8 partrership with Sainsburfs to make 8ritain'5 countrysidè more nature- rith, more resi1￿nt to dimate cha￿e and fflo￿ productive to farm. It15 Insplrln8 work, a￿1 jusi one example of how the Trust is continuin8 to set the a8end3 on conservation best praeti¢e- both on our own land ènd beyond_ The period covered by ihis report colnclded wilh a new government afrivin8 in Westrninsier. and ifs been a lime marked by pollcy uncertainty and further eeon¢)mie turbulence. So it is enorniously pleas1￿ to report another record- breaknng year for our cause. with Trust income rising by 6% to É89.4m and our total investmeni in woods. trees and tsthÈr Vital eco*stems lÈaping to over ÉIO million in 2024-25. Nationally. uitical tzrgets for woodland creat￿n are still not being rn￿- Cuts to 8rant support in kotland wefe especially di5appointing135t year. But atthe Trust we are doing more than ever to fill that vacuum. forging 2.5(Kl hectares ol new broadleaf habitst- rnore than 2S% up on 2023-24. That includes a phenomenal 330,(J)O saplin8s planted on our spectacular Gleann Shildeag estate in Wester Ros5- and we mailed out a mtllion mofe saplings In free tree packs for schwls and community 8roups ri8ht across the country. You can read about both In p￿e5 ihai follow. The health of Britain's existi￿ woodland is another topic dose to the Trusvs heart, and last year ststuioiy a8encies failed io allocate any fundin8 whatsoever io revitali5e damaged anclent wood5 1)n prwate land. That is a ira¥esty. and in May we launcW a major rfft¥ camPa￿n to save these forgotten forests before it'5 too late. Wdve also put our money where our mouih is. be8innino work on a £4 mlllion dernonstration project to revive ￿atre Harrison WLKJdlands. tn ihe Trust's home county of Uncolnshire. The most Surprisi￿ moment of my Woodland Trvst year Can￿ ai the Young people's Fofesi In Derbyshife, when the pop superstar Nile Rodgers stepped out of hi5 tour bus to plant a tree. Our bur8eonin8 partnership with ihe musician's tharitable foundation rnzy seem an unlikely one. but it is bom of a shared determination to 8ive the next generation a vol￿. At theTrust we're more committed than ever to Includingyoung people in e￿ry aspect of our work. whether that's ihrough our annual gfant piogramme for brieht new conservation ideas. the skills training we're delrverin8 on our estatè. or the lobbying we do wilh members of our ytyJth touncJl In the corrldois of WhriehaH. No group is more passionate about the futurt of nature and our planet. and it's a shining example of how the Tru5l 15 broadening and deepenin8 our rne55age as we 51rive lo rnake a lasiin8 impact for people and wildlife across the UK. Dr Darren Moor<roft Chlel executlve offl¢er 41The Woodlind TrusL Report anii aceoun15 2024 2$

FOREWOROS A message from our chair: Tony Hall CBE, Lord Hall of Birkenhead I began ihis year deep in thewoods of Dartmoor, branthshln8 an old-fashioned rad￿) aerial. We wefe in searth of the powlation of pine martens the Trust helped reintroduce to thai landscape the previou5 summer. and it was a huge thrill when a buzz on our radlo- tracker signalled a marten m￿ing nearby. Just as memorable for me. however. wa5 hewtng our local experts descri￿ iheimrnense time and care theydevoteio revi¥Yry the wmler ecosystem there. Our £1.6 millron purchase of Dartrnoorfs Buckland Wood wa5 a highlight In a year notable for land acquisilion5. In all. Ihe Trust invested more t￿n £10 million buyin8 new woods in the period covered bv this feport, includi￿g an antient woodland oasis in the ￿"n(ol￿Sh11e Wol(k and a panoramic hillside on thè outskirts of Neath. We now own more than 33.OCQ hecta￿$ of woodland and other wold plxes across the UK. and more than a third of that 15 bein8 actsvety resiored to benefit wildlife and people. Tr￿en it come5 to makin8 a differerKe on the ground. nothing beats extending our estaie. but what struth me on Dartmoor is how collaboratson has become a corrbtr5tone of the Trusvs work. Au05S the cowitry we are britwin8 people together io achieve what matters- protecting and restoring woodland and plantine more trees. Our partnership with Devon vfildlile Trust and the National Trust has secured a vast expanse of threatened temperate rainforest. and we've become a leading volce in similar alliances elsewhere in the UK. In Wales. we published a Lindmark report setttng out a route map for rescuin8 240 square miles of suwviving rainforesr habitat thefe. In Scotland. we've just signed an agreement io help the cornmunlly of Assynt transforrn their spectaojlar rnountain wilderr55 for nature. All thesè projects reflect how the Trust is now firmly èstablished a5 the go-to VOKe for UK woods aTrd trees. When the 50(kyear-old Whitewebbs Oak was felled outside a Toby Carvery last April. it was Dur condemnation that sounded loudest auoss the airwaves. When a IW,OOLkstrong petitlon Was dellvefed to Downty sireet demanding le8al proieulon for Britain's ￿rItage tyees, it was the Trust knod(In8 at the dooi. I've also been ddighted thi5 year with gur work to bwin8 trees doser to people, especlally thos crynmunities whith need them most. Our fiag5hip Northem Forest project-ar￿t￿eI mulli-agency partnership-stretche5 all the way from Lwerpool to Hull. and last winter planted its ten millionth saplin& Meanwhile. throu8h our Trees lor All carnpaign. we've been helping to ptoneer the use of Tree Equity Score UK as a tool io exiend heaiihiving access to tree5 across disadvantaged nei8hbourhoods UK-wide. And more than 16.000 schools have rM)W SFgned up for our Green Tree Schoo15 Award %heme. which embeds a love of the natural workd in chijdren yp and down the land. I'd like to close by thankin2 the many thousands of supporters who make OLJr work possible. whether that's our superb staff and volunteers. our 31X),C￿ members or Ion8-sianding partners suth a5 Lloyds Banking Group. who have now helped us plant fi¥e Million trees. The publie outrage Sparked by what happened io the Whitewebbs Oak and ai Sycamore Gap shows how the mission of the Woodlarsd Trust is resonating mofe str￿81¥ than with people acf05S UK, and I'm confident that an e¥ef.growin8 rnovtment will rally behiThl our tause. T*Jny Mall CBE. lord Hall ot 81rkethead Chali 51The Woodland Trusi fteport and accouht$ 2014 2S

REPORT QFTrEC4IIEcfoASAIIO OVRPUBPOSE REPORT OF THE DIREcfoRS FOR THE YEAR ENDED 31 MAY 2025 The trustees of the Woodland Trust (who are the directors) have pleasure in p￿sentIng their report and financial statements for the year ended 31 May 2025. These have been prepared in accordance with the accounting policies set out in the notes to the accounts. They comply with the charitls governing document, the Charities Act 2011. and 'Accounting and Reporting by Charities: Statement of Recommended Practice'_pertinent to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland and published on 16 July 2014. The charity is registered with the Charity Commission under re8lStration number 294344, and with the Office of the Scottish Charity Regulator under number SC038885. It is a company limited by guarantee and operates in England. Northern Ireland. Scotland and Wales. Details of trustees and the chief executive who served during the year are set out on pages 4749. OUR PURPOSE Our vision A world where woods and trees thrive for people and nature You'd be forgiven for thinking the current landscape looked more blanched and bleak than green and pleasant. Climate change is accelerating, one in six wildlife species are at risk of extinction in Great Britain, and access to green space isn't a luxury that all of us have. In fact, just 13% of our land area is forested, with urban neighbourhoods particularly lacking the life-giving benefits of trees. Here's what we know about the current state of woods and trees in the UK.. Woodland cover is gradually increasing. but woodland wildlife is decreasing. The UK'S woodland cover ha5 more than doubled in the last 100 years but much of this is non-native trees, while existing native woods are isolated and in poor ecological condition. In Northern Ireland. just 0.04% of ancient woodland remains; across the UK, just under 1% of temperate rainforest is left in fragmented pockets along the west coast of England, Wales and Scotland. Woods and trees are vital for a healthy and happy society- They lock up carbon to fight climate change, improve our physical and mental wellbein& redu pollution and flooding and support people. wildlife and livestock. fjIThe Woodland Trust Repor¢ and accounis 2024-25

AEPOATOF THE DIRECTOASANDOVR PiMPOSE Woods and trees face a barrage of coinciding threats. These range from direct loss due to development to more insidious influences from climate change, pests and diseases, invasive plants, poor management, mammal browsing and air pollutants. Woods and trees are in urgent need of better legal protection, active restoration and careful expansion, all underpinned by improved conservation evidence and increased investment by decisionmakers. Our second State of the UK'S Woods and Tree5 report-due for publication as we write this-provides a loud and clear warning that we need to scale up initiatives to create native woods. put more individual trees back into the landscape. and restore damaged woodlands back to health. PUBLIC BENEFIT The primary public benefit delivered by theTrust is the protection and restoration of ancient woodland and ancient and veteran trees, as well as the creation of wildlife-rich and ecologically healthy habitat5 in the UK that benefit wildlife and people. Native woods and trees provide a wide range of public benefit5. They can sequester carbon and reduce the urban heat island effect. They can help to mitigate the impacts of climate change. including extreme weather such as heatwave5 and drought, severe flooding and flash floods. They can improve water quality, protect soils and reduce soil erosion. They can give shelter to livestock and reduce air pollution (such as nitrogen pollution from agriculture), and they're instrumental in maintaining public health and wellbeing. Some of our activities for the public benefrt include". • managing more than 33,71)O hectares of woodland which are acces5ible.to the public. free of charge planting 45,OCK> trees through our agroforestry initiative, Trees for Your Farm,, funded by Sainsburfs helping children and teena8ers understand the importance of woods and trees throu8h projerts like the UK'S first Young People's Forest at Mead, in Derbyshire providing training and opportunities for young people through our youth council (see p. 21) and Igniting Innovation challen8e15ee p. 22) a55iSting thousands of landowners and farmers to integrate trees into their land, with advice and support through our MOREwoods and MOREhedges schemes 71The VVoodl*nd Trust Reporr a¢¢ounrs 2014.25

ftEPORTOF THE ￿RECTOR$AM>0UR PLfftP1>5E enabling 3,420 sthools and 2,571 community groups to plant millions of trees through our free tree packs scheme, with 15 volunteer creation champions trained to support their local communities placing 1,661 new starters in volunteer roles in the last year alone. enabling people to gain experience in practical conservation giving advice and assistan￿ to people who find their local ancient woods at risk of destruction, and providing ways for people to call on their elected representatives to act for woods and trees • creating 2,500 hectares of woodland, including those we have enabled but not directly funded, so that people can enjoy its benefits for years to come • establishing forests containing millions of trees to capture carbon dioxide from the atmosphere as they grow contributing to the UK Governmenys net iero by 2050 target by supporting businesses with their climate action and biodiversity strategies launching 14 training events with 212 internal and external colleagues, including topics such as open priority habitat recognition, soil surveying. natural regeneration for woodland creation. ancient and veteran tree assessment, ancient woodland restoration skills, and an expanded portfolio of online courses inspiring over 100.000 people to sign our Living Legends petition calling for greater legal protection for our oldest and most special trees launchin8 guidance around recognisin8 and categorising ancient and other veteran trees for woodland practitioners, landowners, law courts and communities. We can't achieve our vision without support. Becoming a member, lending your voice to a carnpaign or appeal, becoming a corporate sponsor or donor. volunteerin& givin8 a 8rant. leavin8 a gift in your will, playing our raffle or simply buying from our online shop can all help us make a real difference for woods. trees, wildlife and people. OUR STRATEGY TO 2030 The next decade is pivotal in reversing the damage that climate change and nature loss is having globally. Our strategy to 2030 captures our vision of the future, our role as the UK'S lareest conservation charity for native woods and trees, and our goals which inform our priorities. We also want to explicitly acknowledge the role that people play, both as supporters and beneficiaries of our work. IThe Woodland Trusi Aeport and ac<ouThts 2024 25

REPOATOF THE ￿RECT0p5All0OVRpVRFO5E Our strategy goals to 2030 PROTEcf: we protect ancient, veteran and valuable woods and trees to stop the loss of irreplaceable habitat and carbon stores and preserve our natural heritage. RESTORE: we restore the ecological condition of existing native woods and trees, increasin8 landscape resilience and creating conditions for nature and people to thrive. CREATE.. we create quality native woods and get native trees growing to benefit nature, climate and people into the future. INSPIRE: we inspire the many, building loyalty and capturingthe hearts and minds of an ever-iftcreasing number of people and organisations to support our cause. ENABLE: we enable everyone to make their contribution to our cause through the tools. evidence and opportunities we provide, allowing them to be part of something bigger than they could deliver alone. TRANSFORM: we are transforming how we operate, ensuring we are the high- performing. inclusive team our cause needs us to be. We must be greater than the sum of our parts-delivering positive impart in everything we do. Underpinning our strategy will be building the culture, operating model, digital technologies and the capability and capacity of our people to deliver the greatest impact for our cause as our scale and ambitions grow. Throughout this report and accounts, we set out how our activities have been based on one or more of these strategy goals. 202￿2025 ACHIEVEMENTS Created 2,548 hectares of new wooded habitat and 209,868 metres of hedgerows. Brought 12,775 hectares of our estate into restoration, including 1,247 hectares spread over 120 PAWS (Plantations on Ancient Woodland Sites) within rainforest zones, plus an additional 667 hectares of third-party land. Distributed 1,046,790 free trees to schools and community groups, with over 19% delivered to postcodes with a low tree equity score. Acquired 195-hectare Harrison Woodlands, a significant ancient woodland restoration opportunity in England. Work has already begun, making this 91The Woodland Tru5l Repori and accounis 2024.25

AEPORTOF THEOIREcfoRSANDOURPUAPOSE special wood suitable for public acces5 as well as providing a large-scale demonstration site for internal and external audiences. Encouraged over 100,000 people to sign our Lrving Legends petition, which was handed in at 10 Downing Street accompanied by two MP5. The petition calls for legal protection for the countrfs oldest and most important trees. Responded to more than 200 planning cases that would damage or destroy ancient woods and ancient and veteran trees. Launched a successful legal challenge against Monmouthshire Council's approval of two new poultry units on a farm that would have affected nearby ancient woodlands through nitrogen pollution. Began working alongside campaigners to explore options to overturn a decision by Scottish Ministers to allow the development of a Flamingo Land theme park on the shores of Loch Lomond. The proposa15 will damage ancient woodland habitat and were initially rejected by Loch Lomond and The Tr055achs National Park Authority. Supported Peter McReynolds (sponsorin8 Member of the Legislative Assembly) on developing policy proposals for a Tree Protection Bill in Northern Ireland. A public consultation on the Bill has closed and drafting of the legislative text for the Bill is now underway. Worked alongside Scottish Environment LINK and other organisations to lobby for the Natural Environment {Scotlandl Bill. which is currently going through the Scottish Parliament and is expected to become law this winter. The bill introduces legally binding nature recovery targets. Habitats Regulations reforms which enable more flexibility for woodland to flourish. and deer legislation reforms which include more grounds wherein Naturescot may intervene on private land. 2025-2028 AMBITIONS Publish a second State of the UK's Woods and Trees report in 2025. Establish over 18 million new trees. including more than three million free trees to sch¢)ols and communities through our free tree packs and Green Trees for Schools project5. Launch a Trust-wide Trees for All programme in 2025126. This will be based on the success of our Tree Equity Score UK project as a flagship approach to increasing equitable access to the benefits of woods and trees. Bring over 12,000 hectares of the UK'S forgotten forests (Plantations on Anclent Woodland Sites) into restoration. I•IThe Woodland Trust ReporE an*J a¢¢ounf$ 2024-25

REPORT OFTHE OIREcfoR5ANDOUR PLWOSE Continue to map ancient and veteran trees and complete the Ancient Woodland Inventory in England by 2026. mapping and verifying 40,01)O more trees to support our advocacy for their legal protection. Work with others to create over 500 hectares of new woodland per year and 100,000m of new hedgerow5 in 2025126, growing to 130,000m in 2026127. We will scale up agroforestry, with a total of 270,000 trees outside woods planted across at least 90 farms by 2027. Continue to play a leading role in the alliances acr055 the UK to protect and restore our internationally important temperate rainforests. • Grow a mass movement of 1.5 million people and deepen the support generously given by our members and the public in time, money and voice, enabling us to achieve more for woods, trees, wildlife and people. Grow even more opportunities for young people to make a difference with us. 11 IThe Vi4)odland Trust Repor[ and accounts 2024.25

TREESAND LIHE6WE5 TREES AND LANDSCAPES Our.:strategic,,aiini'. To'.influenceiand deliver and'trees'FLi>-' 'a-:more,resilient landscap.e approach,to.woods&i MAIOR SITES AND TREESCAPES In our Treescapes and at major sites, we continued to deliver significant, la5tin8 change for people and nature through a landscape approach. The following are just a few examples of our work across the UK. BRYNAU FARM. Neath (MEETS sfRATEGIC GOALS RESTORE, CREA TE. INSPIRE) In October, with 8enerous support from Uoyds Banking Group, the Banister Charitable Trust, the National Lottery Heritage Fund and others, we acquired Cefn Morfudd an exciting expansion that more than doubles the size of Brynau Farm to over 230 hectares. This strategic acquisition allows us to take a landscape-scale approach to natu￿ recovery in the catchment above Neath- linking up ancient woods including our own Dyffryn Woods and Coed Maesmelin- and has the potential to connect 18% of the Welsh population to nature. Work is already underway. As part of the Lost Peatlands Connections project, delivered in partnership with Neath Port Talbot Council and others, we've secured fundin8 to restore precious peatland and implement natural flood management measures to reduce the risk downstream. Local interest has been stron& with a dedicated team of volunteers helping to drive progress on the ground. In March, we hosted a Community Planting Week where local residents, schools, volunteers. Lloyds Banking Group staff and Senedd members planted over eight IIIThe Woodland Tryst Repori and atcounrs 2024.25

TItEESAND LAIIIKAPES hectares of native woodland in a powerful demonstration of community support for nature. Strengthenin8 acce55. inclusion and learning Access Improvements at Brynau have helped open the site to more people than ever. A new bridge and footpath now connect directly into Gnoll Country Park, allowing more people- especially those from low tree equity areas in central Neath and Cimla- to enjoy the wellbeing benefits of trees and green space. We also partnered with Seren Dwt la charity supporting families of children with t)own Syndrome) to host a joyful day of exploration, picnickin& dancing and discovery among the trees. The event welcomed 135 family members and highlighted how woods can be welcomin& inclusive Spaces for all. In September, member5 of our youth council visited Brynau for a programme of conservation tasks, green woodworking and content creation. Students from Swansea University. Aberystwyth University and the University of South Wales continue to use the site as a living lab, supporting hands-on learning and academic research. In spring. we hosted an Introduction to Conservation Grazing course for staff and partners, while in May. we welcomed the Royal Forestry Society's AGM, where delegates from across the UK saw our climate-resilient woodland design and plastic-free planting techniques in action. FAUGHAN VALLEY WOODLANDS, Northern Ireland (MEETS STRATEGIC GOALS PROTECT, RESTORE, CREA TE, INSPIRE, ENABLE) Launched in 2016. the Faughan Valley Treescape project is a land5cape-scale initiative focused on protecting, restoring and connecting some of Northern Ireland's m05t fragmented ancient woodlands, which are now reduced to just 0.04% of land cover. Our recent acquisition of 61 hectares (150 atresl at Ervey Road presents an exciting opportunity to contribute directly to Northern Ireland's Green Growth Strategy• which aims to plant 18 million trees19,000 hectares) by 2030. Around 87,000 native trees will be planted, with further areas left to natural colonisation. Through community planting events and the 5UPPOrt of our 165 dedicated volunteers. we'll create new woodland that links and enhances existing 131The Woodland Trusi fteport ind a¢co￿nI$ 1014.25

TREESANO iAAD5CAPE5 habitats, helping to build a more ￿$111ent landscape for biodiversity and local communities alike. This acquisition is a strategic investment that will create the only native anclent woodland forest park in Northern Ireland. Sharing a boundary with our current landholding and bordering the public path network. the site will become part of an expanded recreational trail system, attracting new audiences to the Faughan Valley. Since 2016. we've brought over £4.35 million of investment to the valley. We're especially grateful to the Northern Ireland Environment Agency for supportin8 the Ervey Road purchase with £1.2 million in the last financial year. GLEANN SHILDEAG ESTATE, Strathcarron (MEETS STRATEGIC GOALS PROTEcf. RESTORE, CREA TE, INSPIRE) Over the past year. we've planted more than 31K),(M)O trees at Gleann Shildea adding tothe 120.000 planted during 2023124. This large-scale planting 15 helping to expand the estate's ancient woodland, which sits at the heart of ScotlanLYs rainforest. By increasing the size of the forest and creating a protertive buffer around the existing pinewood, we're makin8 the habitat more resilient and better able to cope with future climate and other change. All the trees planted were grown from seeds collected on or near the estate by a dedicated team of local volunteers, and many were nurtured in the estate's new nursery. which was established in 2024. The nursery now produces 20,000 trees annually, with a focus on harder-to-grow native species like juniper. aspen and montane willow. One of the main threats to Scotland's rainforest is overgrazing by deer, which prevents natural regeneration. To tackle this, we launched an innovative deer monitoring programme through the Our Rainforest Futures project, funded by the National Lottery Heritage Fund. We trained local residents to use thermal drone5 to survey deer populations across the area, supporting land rnanagement in Glen Torridon. empowering neighbouring estates to manage deer more effectively, and buildin8 valuable local skills and employment. BRINGING NEW WOODS INTO OUR CARE IMEETS STRATEGIC GOALS PROTECT, RESTORE, CREA TE) With only 7% of Britain's native woodland in good condition for wildlife, we're dedicated to buying land we can protect from destruction, restore to full health 141The Woodland TruSE Report ind accounts 2024 25

TAEESAND LAMWAPES and, where appropriate, enhance and expand by planting the right trees In the right place. The past 12 months have been a bumper yearfor land acquisition. We brought 581 hectares11,436 acres) into our care, includin8 Cefn Morfudd in Wales (see page 121 and Errfey Road in Northern Ireland (see page 13). Hayhills, West Yorkshire Nestled on the edge of Silsden, this 30-hectare174-acrel site is ripe for woodland creation. More than 38,000 trees have already been planted with help from local volunteers and our partners. Lloyds 8anking Group. Glen Quey. Perthshlre This 57-hectare {140-acrel strategic acquisition strengthen5 our presence in the Glen Devon area by connecting two of our existin8 Sltes (Glen Sherup and Geordie's Wood), creating one of the largest continuous wooded landscapes in the UK. The site also includes a rare raised bog habitat and is now protected from threats such as quarrying and commercial afforestation. For all its wild beauty, Glen Querfs accessible location makes it a promising site for future public engagement and community tree planting and offer5 a valuable opportunity for corporate volunteering outside of the Highlands. Harrison Woodlands. Lincolnshlre At 195 hectares1481 acres), Harrison Woodlands was one of the largest ancient woodland restoration sites to come to market in England last year. With a history stretching back to the Domesday Book and containing Bronze Age barrows, the site is rich in both natural and cultural heritage. Facing the threat of sale to a commercial buyer, we launched an urgent appeal to raise the funds needed to purchase Harrison Woodlands by December 2024. Thanks to the remarkable generosity of our supporters. it became our most successful online fundraising appeal to date and the wood is now safely in our care. Surrounded by the largely treeless landscape of the Lincolnshire Wolds, Harrison Woodlands is a rare sanrtuary where people can lose themselves in nature, spotting birds including warblers. nuthatches and even nightingales. We'll now ISIThe Woodlgthtj Try51 Rep¢rE aftd Irfo¥nT5 2024.25

TREESAND LAIItsS¢APts begin tarefully restorin8 thi5 coniferised site to its former health. enhancing its biodiversity for future generations. Buckland Wood. Devon Butkland Wood in Devon is a 102-hectare {252-acrel 51te that will stand as a flagshlp for UK rainforest restoration; a living example of how we can restore nature at scale and safeguard it for future generations.. With just 878 km of this habitat remaining (much of it degraded and poorly protected). Buckland is part of a growing prolected rainforest corridor in the South West. Situated between our existing sites at Ausewell Wood and Grey Park Wood, this acquisition strengthens habitat connectivity and supports biodiversity, climate resilience, water quality and carbon storage. Formerly used for commercial forestry, Buckland Wood will now undergo ecological restoration, contributing to the revival of ancient woodland across the region. The purchase supports our Rainforest Recovery Treescape initiative, launched in 2024, which aims to triple rainforest cover in Devon. Cornwall and Exmoor bv 2050. As a founding partner of the southwest Rainforest Alliance, we're leading long-term recovery efforts by buildin8 partnerships. securing poliry support and delivering on-the-ground change. AGROFORESTrY (MEETS STRATEGIC GOALS CREA TE, INSPIRE) More than 70% of land in the UK is farmed. For over a decade we've provided advice, support and funding for more than 300 agroforestry schemes through the Trees for Your Farm programme and positively influenced policy and government grant funding. Despite farmers facing lots of challenges and uncertainty, last year was no exception. Trees for Your Farm Our initiative providing design advice and up to 100% funding for aEroforestry projects which integrate trees into produttive famiing systems 15 thriving. In 2024/25 alone, 45.IMI trees were planted across the UK with funding from Sainsburfs. These trees are now growing in silvoarable systems. where they may be planted in protective rows between alleys of crops, and silvopastoral systems. where they provide vital shade, shelter and additional browsing material for livestock. The pipeline for the 2025126 season is already full, with further schemes likely to emerge as part of the Sainsburys pilot. 16IThe Woodlan4 Trust ilepor% and accoun1$ 1024-25

TAEE5 A140 LANDWES Sainsburys pilot Our pilot project working with Sainsburfs farmers is now in its second year of delivery, with two focus areas- the north west and south west of England, each with a dedicated advisor. Presenting the benefits of agroforestry and our expertise to 5ainsbury'5 suppliers has helped us build direct relationships with farmers, and we've boosted engagement and tree planting opportunities through our tree giveaways. In total, we provided 8,100 trees to 69 dairy and beef farms across two pilot areas. In addition to this. we've condurted 33 site visits, with 20,975 trees planted over a 25-hectare {62-acrel area. A further 12,000 trees are in the pipeline for next sea50n, and we're working on two large agroforestry schemes which could create more than 30 hectares {74 acres) of agroforestry over the comin8 years. PROTEcnNG OUR UVING LEGENDS (MEETS STRATEGIC GOALS PROTECT. INSPIRE, ENABLQ The past year marked a turning point in our efforts to secure stron8er legal protection for the UK'S oldest and most important trees. Our Living Legends Gimpaign has grown into a powerful and united voice calling on governments to recognise these trees not just as natural wonders or local amenities. but as irreplaceable parts of our ecological and cultural heritage. More than 100,000 people have now added their names to our Living Legends petition, which we brought to the heart of government with a formal hand-in at 10 Downin8 Street on 18 November 2024, underscoring the strength of public dernand for change. Legislative progress has also been made. In July 2024. Peter McReynolds. Member of the Legislative Assembly of Northern Ireland. submitted proposals for a Tree Protection Bill to the Northern Ireland Assembly. This bill seeks to enhance tree preservation orders ITPOs}, create a new Heritage Tree designation and protect ancient trees and longostablished woodland from permitted development. The need for robust legislation has never been clearerthan over the past year, with high profile c3se5 such as the Sycamore Gap trial and felling of the Whitewebbs Oak becoming a rallying point for our Living Legends campaign. Part of this involved coordinating our efforts with organisations from acro55 the sector to respond quickly to threats with a powerful. unified voice. We even 17jThe Woodland Trust Aepori and accovnrs 2024-15

collaborated with celebrity supporters includin8 David Oakes and Nile Rogers on rousing video content that captured the imagination of our audience. To support our advocacy, we launched new guidance named 'Recognising and Categorising Ancient and Other Veteran Tree5'. The guide forms the basis of a new module in our rapidly growing conservation training programme, which equips practitioners in legal pyotertion. planning, and land management with the clarity and expertise to safeguard our oldest and most special trees. The guide has already proved an invaluable asset- adding robust evidence and credibility to our campaigning in the wake of the Whitewebbs Oak felling. I•ITho Woodland Trtr5l Repori and ac<ovnrs 2024 25

BLIILOING WPPORT BUILDING SUPPORT Our,,strategic aimlv.. -i< s:.: :. ToEshift.th°e;relationship.that people':havè.with.wo-ods and.trees'.tOione,' INCREASING ACCESS TO TREES Everyone deserves to feel the benefits of woods and trees in their daily lives. This vear, we've continued working ceaselessly to increase peoples. access to trees and, in turn, inspire them to love and care for them. FREE TREES FOR SCHOOLSAND COMMUNMES {MEETS sfRATEGIC GOALS CREA TE, IIVSPIRE, ENABLE) Our free tree packs scheme distributed 1,046,790 trees to schools and Community ' groups during the 2024125 season. More than 19% of these were delivered to postcodes with a low tree equity score (areas of low tree cover classed as the highest priority for planting), moving us doser to our goal of bringing the benefits of trees to all. As part of our work. we visited planting sites to see first-hand just how much of a difference trees and tree planting can make to people and their local neighbourhoods. Volunteers at the Nottingham Refugee Forum were working on a superb community Bafden, with our hedges forming a major part of the regeneration of a rough patch of ground near their community centre. The charity was set up in 2000 to provide help and sUPPOrt for refugees and asylum seekers in and around Nottingham, and thi5 peaceful 8reen space will offer a much- needed oasis of calm. Seeing the life-affirming impact of our trees on local communities and the environment is one of the most important parts of our free trees scheme. So, we've brought together an amazing team of volunteer creation champions who'll connect.with their local communities and discover even more incredible places to 1gIThe Woodl*Trii Trusr Repori and account$ 2C114-25

OVILThf￿ SUPPORT grow the movement. This is on top of our 109 free trees ambassador volunteers who already help us promote our free tree packs. Our f￿e tree packs scheme wouldn't be possible without fijnding from our lead partners: Sainsburfs, Uoyds Banking Group, OVO, Sofology and Simplyheatth. INFLUENaNG AND INSPIRING Collaboration is vital rf we're to shift the dial for woods and trees. In 2024125, we've continued to build meaningful relationships and partnerships with people and organisations including politicians, young people. landowners, farmers and businesses who share our ambition. Along with our established networks, we've welcomed new collaborations that help progress our cause. SHOWCASING OUR ESTATE (MEETS STRATEGIC GOALS INSPIRE, TRANSFORMI Our sites are uplifting places whlch show the health, wellbeing and environmental benefits of woods and trees in action. Thevre the perfect place to rally politicians, important partners and other influential figures to support our case. Hainault Forest, a vibrant anctent woodland on the outskirts of East London, is playing a key role in supporting our advocacy as well offering a colourful retreat for the local community. In the last year we hosted the Westminster Governmenvs Health Secretary, Wes Streeting: Nature Minister, Mary Creagh: and the Deputy Mayor of London with responsibility for the environment, Mete Coban. amongst its ancient woodland. veteran trees and budding new planting. All have publicly stated how valuable Hainault is to people and nature, and we've seen return visits. From the widely accepted health benefits of being amongst the trees to the nattjre thriving on ancient trees which host hundreds of species, Hainault has underpinned our follow-up advocavi in the corridors of Westminster and City Hall. It brin8S to life the importance of the trees we wish to see 20jThe Woodland Trust A*port 4¢couth¢$ 2024-25

ILOING SUPFORT Government policies protett and enhance. not least when arguing for greater nature protection in new planning legislation. INSPIRING THE NExf GENERATION {MEETS STRATEGIC GOAL INSPIRE) Young people are vital to the future of woods and trees and we're committed to giving them the opportunities, support and platform to be part of our mission. Youth council Now in its third year, our youth council continues to thrive and influence key areas of our work. Members have played a central role in shaping project5 including the upcoming State of Woods and Trees report, they've co-written the foreword to the England Tree Action Plan, and therfve reviewed our recruitment practices to help make them rnore inclusive. TheTrlve also represented the Trust at major events, including a parliamentary event in early 2025. Young People's Forest This year, we launched our first accredited training opportunity at the Young People's Forest at Mead in Derbyshire. Twenty-one young people are now . working towards a Level 2 Environment Leadership qualrfication through the Leadership Skills Foundation {the equivalent of a GCSE). with many expected to progress to Level 3 {A-level equivalentl. It's a milestone in our commitment to developing future environmental leaders. Schools Our Green Tree Schools Award. which encourages Outdoor learning and inspires pupils about woods. trees and wildlife. is now in its 5iXteenth year, with 16,000 schools taking part acr055 the UK. With so many years under our belt we spoke to 211Tht W•odland Trust Aeporc and accounts 2024-25

BVILDINfj5UPPQRT participating teachers to gauge the Impact the award has had on their students. Surveys and interviews revealed that: 97% of teachers said the award met178%) or exceeded (19%) expectations 92% of teachers felt the award supported their goal of raising environmental awareness 88% of teachers saw benefits to pupils, mental heafth and wellbeing. The teachers we spoke to 3150 reported increased environmental awareness among pupils. as well as stronger schookcommunity connections and improvements in teamwork and critTrcal thinking. Igniting Innovation We 5UPFKlrted six new projerts through our Igniting Innovation challenge- empowerin8 young people to turn creative ideas into action for nature. This vearfs winning projects induded a nature-themed card game, a youth-led podcast and an eco-poetry collective that connects creativity with conservation. 5ki115 and placements To support early career pathways. our people team piloted an online work experience session in collaboration with Speaker5 for Schools. Twenty-two young people took part in the session. gaining insight into careers in forestry and conservation. We'll keep using thi5 approach next yearto reach more people and make an even bigger difference. RAISING OUR PROFILE {MEETS STRATEGIC GOAL INSPIRE) In July 2024 we joined forces Wlth garden de5i8ner Ashleigh Aylett at the RHS Flower Show Tatton Park. Inspired by the dramatic 49%1055 of trees outside woods since 1850, Ashleigh designed the Woodland Trust: 49% garden,. an oasis of pollinator-friendly plants. mosses. and trees sourced from our UK and Ireland Sourced and Grown IUKISG) assurance scheme, highlighting the importance of protecting our trees from introduced pests and diseases like ash dieback. The garden won a gold medal, whilst Ashleigh received Young Garden Designer of the Year and Best Young Garden Construction. From February to mid-April 2025 we ran a citizen science campaign asking people to monitor the vital signs of spring for our long-standing Nature's Calendar project. People submitted their first sightings of frog spawn, a singing song thrush and flowering blackthorn to help us build a picture of how climate change is affectin8 nature. In total, we received 23.OLXI submissions (including 45 schools), 22IYh Wodlaffl4 Trust Reporr and aCCOuni$ 1024 2S

BUILOINGSUPPORT with 645 people choosin8 to become long-term Nature's Calendar volunteers. We saw: 9.471 sightings of frogspawn 7.763 stghtings of singing song thrushes 5.336 sightings of blackthorn blossom. The record5 revealed that blackthorn flowered nine days earlier than usual, likely influenced by the record-breaking sunshine and warm temperature5 in March. It's a worrying trend: blackthorn blossom is a vital source of early nectar for insects emerging after winter. If climate change throws ivs timing out of sync, the effects can echo through the food chain. We also continued to raise awareness for our cause and inspire people to take action through our press activity. We shared our vision of a world where woods and trees thrive for people and nature with the huge audiences of publications indudingThe Guardian, The Independent, AOL The Telegraph, BBC News, BBC Breakfast and IT￿ News. In all. 1.268 pieces of coverage included a quote from our experts. and our messages had a reach of 2.3 billion. 231The Woodland Trusr Repori and accounis 2024.25

ENAeLIMG ENABLING ,.Scaling:,up.,and.,optiinising,'our.'résources.for theiberiefit'.of woods':andp:-~ ¢trees.;. GROWING EXPERTISE After a period of growth, our capacity remains stable at 568 staff (543 FfE} and 4,127 individual volunteers. During the year. we continued to invest in the skills and knowledge of our staff and partners to better deliver and increase the irnpart of our work for people and nature. We seè huge passion and commitment from our people and thank each of them for everything they do for our cause. LOCAL AUTHORITIES (MEETS sfRATEGIC GOALS PROTECT, CREA TE, INSPIRE, ENABLE) With the power to help transform their neighbourhoods for the wildlife and people who call them home, our influence and advocacy work with local aijthorities is just as important as our efforts to lobby Government. Emer8ency Tree Fund Though our Emergency Tree Fund (ETF) projects are coming to an end, they leave a legacy of community engagement. partnership working and the planting of tens of thousands of trees. Wokingham was awarded Tree Cities of the World status for its work in urban forestry, whilst the ETF project in Bolsover kicked off a relationship between the Council and the Welbeck Estate which has led to woodland creation beyond the scope of the ETF project itself. We're currently working with Bolsover on its new tree strategi, which is heavily informed by our template. Councils in the West Midlands now have an 71 ree Eco map to ensure their planting addresses socioeconomic need, and the Forest of Avon ETF project surpassed expectations by securing £7.79 million in government funding through a Western Forest bid which will directly support the planting of 2,540 trees. 241The Woodlarbd Trv5t Reporr •¢covn¢5 2024.25

EIIABU14G Crucially, the ETF funding helped secure a permanent Forest of Avon coordinator to Sustain the project into the future. The EfF has been generously supported by the Helen and Michael Brown Charitable Trust and a grant of £2.1 million from Amazon's Right Now Climate Fund. Nature emergency scorecard In March. we launched a new website showing which local authorities have declared a nature emergency, the quality of the declaration and the likelihood of it leading to nature recovery on the ground. The webslte encourages and 5UPPOrts more local authorities to make high quality nature emergency declarations by offering practical guidance (including an exemplar motion), making progress visible and allowinB benchmarking between authorities. We have already had positive meetings with local authorities about how they can increase their scores and 5UPPOrt more action for nature recovery. The website also gives ordinary people the information they need to push for stronger action on nature recovery. So far. over 1,5CKI people have taken part in our ongoing campaign calling on local authorities in England to declare a nature emergency and commit to bold policies for nature's recovery. This is resulting in heightened engagement by local authorities with our regional policy agenda. Local tree strategies In 2024 we developed a simple, adaptable and resource-efficient tree strategy template to encourage local authorities to adopt ambitious tree strategies. Informed by the expertise of colleagues from across the Trust, the template is a 2SjThe Woodland Try5 Aepori and ac¢ounis 2024-25

ENA8LINS live document and is regularly updated to reflect new priorities, research and good practice. So far, the team has spoken to more than 40 lotal authorities about the template, with 11 of these-including Cambridgeshire County Council and St Albans using it to develop their own tree strategy. CONSERVATION RESEARCH AND EVIDENCE (MEETS STRATEGIC GOALS PROTECT, RESTORE. CREA TE. INSPIRE. ENABLE) .Our conservation and external affairs team prides itself on being at the cutting edge of conservation science. practice and adv¢xacy. We regularly collaborate with external experts to produce influential new evKlence and break new ground with research, and this year was no exception. Pollcy research In Decernber, we launched new policy research examinlng how to fund the investment that England's natural environment needs, and what the government's role should be. Commissioned from experts at the University of Oxford. University College London and the University of Kent. 'Leading from the fronv makes the case that the public sector needs to take a stronger, clearer role in tackling the nature crisls. However, the Green Finance Institute has calculated the nature finance gap to be £4.4-£9.7 billion per year; with public funding under pressure. nature cannot be restored using public and NGO resources alone. If we're to restore nature at the scale we need. involvement from the private sector is crucial. Though ￿SearCherS argue they must be better designed and regulated to succeed. hope lies in emerging private settor nature markets which can help guide where and how finances can best target nature recovery. To promote the research, we organised an event in Westminster where our conservation experts came together with MPS, Lords, senior civil servants, academics and private sector guests to hear from the report's authors and discuss their findings. We hope the report will continue to stimulate new thinking and debate in policy areas crucial for the future of woods and trees, and we're looking to build on the succe55 of 'Leading from the fronv with further research. 241The Woodlaffld TrtssE Report iccounis 2024.2S

BIO-WELL This year, we released the findings from our in-depth woodland wellbeing study, BIO-WELL First funded in 2022, BIO-WELL p05ed the question.. does a biodiverse woodland positively impact human health and wellbeing. Our research team created woodland wellbeing maps based on natural traits known to enhance health and happiness, including birdsong and the sight of ' colourful fungi. This was then analysed against socioeconomic data to investigate whether acce55 to biodiverse woodland is equally distributed across the UK. The maps show that woods rich in wellbeing traits are very unevenly distributed. with lower wellbeing-quality woodlands in more income-deprwed areas. Hotspots of high wellbeingquality woods are in the south east of England and some parts of Scotland. These areas often have a high proportion of woodland cover, particularly ancient and long-established woods. Unsurprisingly, the rnapping shows these areas are also rich in a var+ety of woodland plants, animals and fungi that people find beneficial for their wellbeing. We'll now use the woodland wellbeing maps to identify areas where woodland creation, restoration and protection can be prioritised to begin addre55ing the inequalities in access to woods. DiversiTree Funded by the Future of UK Treescapes Programme, the DiversTI ree project is a collaboration between our con5ep4ation experts. thejames Hutton Institute, the University of Birmingham and Bangor University. The project investigated how the diversity of tree species used when creating and managing woodlands influences the resilience of those woods. For instance. how does tree species diversity help protect against pests and diseases, and how does it influence biodiversity? The project focused on conifers-primarily Scots pine and Sitka spruce but also included both native and non-native broadleaved trees. We found that kots pine supports 1.589 species, 215 of which are only found on Scots pine trees- highlighting the importance of our remnant and threatened Caledonian pinewoods for wildlife. Sitka spruce supports 564 species, six of which are non-native species found only on Sitka in the UK. highlighting the importance of bi05ecurity for introduced species. Though our findings highlight the importance of these trees. iys important to remember that not all these species will be present on every Scots pine or Sitka 27jThe Woodland Trvst Report and accotshr$ 2024.25

ENADUW6 spruce. Their presence depends on factors including how a woodland is managed, its structure, the age of the trees. and if there is wider landscape connectivity to allow species to get to the woodland from the surrounding area. And ivs not all aljout trees. Biodiverse woodlands are complex ecosystems where soils, shrubs and ground flora are all important in determining the presence of different wildlife. OUR COMMITMENTTO DIVERsrrY AND INCLUSION (MEETS STRATEGIC GOALS INSPIRE, TRANSFORMI We believe everyone deserves to have their lives enriched by woods and trees. We believe in equal protection from the impacts of climate change and in equal access to dean air, water and soil. We also believe in equal opportunities for indivlduals to experience the positive effects that trees and woodlands have on their physical health, mental wellbeing and overall quality of life. However, these benefits are not experienced equally. Who we are and where we live determines how much we access, enjoy and benefit from wood5 and trces. We also recognise we must better refiect the diverse voices and experiences of the communities we serve. The environmental sector remains one of the least ethnically diverse in the UK and we acknowledge that our or8anisation Is no exception. Just as it takes time and effort to create, restore and protect woods. it takes time to grow an indusive culture in whith diversity can thrive. We are firmly committed to real systernic change. We have developed a comprehensive diversity and inclusion action plan which sets out clear steps to address under-representation and foster a more inclusive. welcoming environment for our staff and volunteers. To promote transparenci and accountability. we publicly shared data on our racial diversity in the RACE Report 2024. We also continue to collaborate with others across the environmental sector on action-focused initiatives to bring about change. Internally, we are reformin8 our recruitment processes to include the use of anonymised applications, and we're exploring various approache5 to address historic imbalances. We have also supported the creation of staff networks such 20IThe Woodland Trust Aepori and accoun1$ 2024 25

ENABIIHG as the LGBTQIA+ network and ethnic diversity network, to provide peer support and strengthen community within the organisation: Externally, we are working with local communities to address disparities in urban tree cover, recognising the urgent need to improve equitable access to woods and trees for marginalised communities. We know there is more to do, and we'll continue to listen, learn and take artion to build a more inclusive organisation and ensure the benefits of woods and trees are shared by all. 2•1The Woodland Trvst Report and accounis 2024.2S

AJWORAISING FUNDRAISING OUR APPROACH TO EfHICAL FUNDRAISING We are a member of the Chartered Institute of Fundraising and the Direct Marketing Association and are registered with the Fundraising Regulator. Alongside our own high standards. we follow their codes of prartice to eTr5ure that our supporters have the best possible experience. Fundraising is carried out by our staff with help from external fundraising partners. We use third-party fundraisers to help u5 raise awareness of the Trust and encourage people to become members to support the long-term financial 5USt3inability of the Trust which will continue to enable us to safeguard our woods and trees. We have a long-standing relationship with one face-to-fa recruitin8 company. We regularly deliver training sessions to their team to make sure they have a clear understanding of our aims and vision. so they can inspire potential supporter5 more effectively. To protect and maintain the high standards that we and the public expect, we make sure that professional fundraisers receive appropriate training and adhere to our policies and practices, with particular attention paid to vulnerable people. To check that these standards are being rigorously maintained. we regularly monitor the quality of outbound telephone marketing calls and conduct mystery shopping with our fa￿-to-faCe fundraisers. The total number of 4C (comments, complaints, compliments and criticisms) recorded events for 24125 was 27,505 123124: 35,8341 of which 32311.17%)123124: 577. 1.61%) related to complaints received. All Woodland Trust staff. as well as the staff of our fundraising partners. have received training on the implications of the UK General Data Protection Regulations (UK GDPRI. We also fully comply with all current regulations and guidelines, underpinned by the promise we make to our sUPPOrters, a5 Outlined below. OUR SUPPORTER PROMISE We promise to be honest and transparent about where your rnoney goes and why we askfor donations. We will show you what a difference you are making. We will protect your dats 3OIThe Woodlind Trust Aeport and •c¢o¥nr$ 2024-IS

FVNDRA151NG We take our obligations to look after your data very seriously and will never sell your data to third-party organisations. We will contact you via methods you have given permission for us to use and, if you wish to change the way we contact you or opt out of future communications. you can either contact our supporter services response team at any time or go to the ermissions ortal. We are respectful We will not put undue pressure on you to make a gift. and if you do not Wish to donate, we will respect your decision. We are accountable We do all we can to ensure fundraisers. volunteers and third-party agencies working with us comply with all fundraising regulations and this SUPPOrter promise. Where we work with third-party agencies, we will ensure training is provided and will monitor their work. We will act q(Jickly if they do not meet the high standards we set. We keep In touch We will always provide easy ways for you to contact tjs, and our supporter seniices response team is on hand to answer any queries you may have. If you are unhappy with anything we've done, you can contact us using our complaints policy. If we make a mistake, we will apologise and do all we can to put things right, and if we cannot resofve your complaint. we accept the authority of the Fundraising Regulator and the Charity Commission to make a final adjudication. 3IIThe Wotsdland Trust Aepori and accounis 2024.25

OUR511STAINA8LE bmOACM OUR SUSTAINABLE APPROACH INTRODUCTION As the size and scope of our work contifbues to grow, it has never been more important to take the most sustainable approach in all aspects of our activities. This is the Second year of mobilisation of our sustainability strategy, the framework that shapes our 2030 vision to be the exemplar of a well governed social and environmentally responsible business, landowner and trusted partner organisation. In this report we build on the approach taken in the previous year, highlighting some of the progress we've made acros5 our four key environmental themes, representative of where we See our greatest impact and opportunity to influence: climate action. resource use, resilient environments and living systems. Across all themes our approach remains evidence-led and collaborative, drawing on the wealth of expertise and data within the Trust and from our peers and partners, allowing us to benchmark our efforts against the highest standards of sustainable practice. CLIMATE ACTION The woods and trees we work to protect, restore and create represent a significant carbon sink and store. and our work to articulate this for our estate is described below. Maintaining this positive climate benefit is crucial, which 15 why we're ensuring we build climate change resilience into ourestate- our work to do this is described in the resilient environments section. Added to this, we're determined to mitigate our own greenhouse gas (GHGI emissions, and the climate action section captures these ongoing efforts to maintain an abatement- first approach to reducing emissions from f05siI fuels. Last year, we reported that we'd modelled various emi5sions-reduction scenarios and were working to understand the associated resource requirements needed to enact these, before determining our most appropriate course of future action. This work is now complete, and the result is our carbon action plan, a roadmap to net zero in scope l and 2 GHG emissions by 2035, with a further target of 321The Woodland Trust eport •ccovnr$ 2024-2S

OURSUsTAIN￿lEApFRl)ACm achieving net zero in scope 3 by 2050. These date5 broadly align with a science- based, best practice approach to achieving net zero, although we have factored in a slightly extended period12035 rather than 20301 to achieve our scope l and 2 ambition. This has been done in consideration of our staff. building in time for the UK'S electric vehicle IEV) infrastructure to further develop and become more readily available to all our people. Carbon emisslons 4llb .7:859.0 Scope 1-3 non-lond emissions breokdownfor the current reporting year. 2024-25. Our total Scope l and 2 {as well as partial Scope 3 business travel ernissions for employee-owned and hire vehides) cart)on emissions for 2024125. calculated in accordance with the GHG Protocol and in alignment with the Streamlined Energy and Carbon Reporting Guidance 2019 (SECR), were 368 tonnes CO2e. This modest decline is indicative of us comin8 closer to the limit of emissions reductions that can be achieved with simple efficiency and behavioural changes, which is where our carbon action plan will take effect, incorporatin8 the technical chan8es in how we source energy. heat building5 and fuel our fleet. Notably, our footprint is now nearly half of what it was pre-pandemic (circa 700 tonnes C&el when we were a much smaller organisation. 331The Woadl•nd Tc¥s¢ Report ind iccouTrt5 1024 25

LKJRSU5TAIP4ABLt APPROACH June 2024-May 2025 .ana".2. emi5SiOIIS. June 2023-May 2024 Emissions source Consumptio Tonne5 CO2e Consumptio Tonnes CO Vehicle use (mlles) Gas Ikwh) Electricity (kwh) Refrigerants (k81 Total FfE Intensity ratlo tonnes CO2e per average FfE Woodland Trust SECR emi55ionsfor the current andprevious reporting years. 'ForSECR reporting only, vehicle use includes scope l (Trustfleet vehicles) and portiol scope 3 (employee-owned ond hire) vehicle5. 1,649,402 100,414 231,939 301.5 18.8 48.0 I,518,￿7 97,585 252,077 li 287.6 17.8 67.0 17.9 390.3 543 368.3 563 0.65 0.72 Vehide use Our total vehicle emissions in 2024125 were 301 tonne5 C02e, reflecting an increase in activity li.e. miles travelled) to support the continued increase in the size and scope of our work. The average emissions per mile have decreased (from 0.19 kgCOie/mile to 0.18kgCO2e/milÈ), reflective of our continued investment in the electrification of our fleet. Twenty-six electric vehicles {EVs) were added in the year (the impact of which will be reflected in next year's figures) to bring the total up to 61. Further decarbonisation of our fleet is key to our carbon action plan, implemented at a pace which consider5 safe provision in some of the more remote areas in which our people work. Energy Gas consumption has remained broadly similar in comparison with that reported last year, with occupation at our Grantham head office at very similar levels to the previous year. Electricity use continues to fall (by 8% from previous in usage terms, and an 18% fall in emissions terms), reflecting our ongoing care in monitoring and minimisation efforts, including the installation of LED lighting, de<ommissionin£ of redundant server equipment. and UK grid decarbonisation. More intensive investment in electrification of the heating system within our head office building is a key output from our carbon action plan, and we plan to scope and tender for an electrified heating option in the coming financial year. 341Th¢ Woodlind Trust Aeport and •¢¢otsn¢$ 2024-25

OIIR SUsT￿lIA8LEAPpIIOACH Refrigerants In response to refrigerant gas loss last year. we replaced all valves on any circuits that might fail at Grantham HQ and are pleased that no further F-gas top up was required in 2024125. We continue to work on improving our server room. Carbon Intenslty ratio The intensity ratio of tonnes CO2e from vehicle use and energy consumption per staff full-time equivalent IFfE) was 0.65 tonnes CO2e per FTE, a IO% improvement in carbon intensity ratio compared to the previous year. We have therefore accommodated additional headcount and still been able to reduce emissions (albeit modestly}. Our carbon intensity is now less than half that of pre-pandemic levels11.41 tonnes C02e per in 20191. S¢ope 3 emissions reporting In last yearfs annual report and accounts we presented a full baseline acr055 the three emissions scopes for the year 2021122. This approach has been replicated for 2024125. Across all scopes we've now achieved a reduction of 1,339 tonnes CO2e {15%) compared to the baseline year. A dirett comparison with the previous year can't be made as we've expanded the scope 3 categoTie5 in which we report for this year. Procurement of goods and sep4ices remain5 our largest source of emissions by some margin, and thi5 is where our carbon action plan will focus in scope 3 terms. In particular, we'll our tree supply chain, which represents our largest -source of expenditure and associated ernissions. 3sifhe Woodland Trust Report and i£count$ 2024-25

OUIiSiISTA114ULE AP9AQICH Scope 1-3 non-&7nderni5sion indicotingoltyinment with SECR rewrtinA from the boseline yeor2021-22 to the current reportinq yeor2024-25' 21121122 202a124 2024115 t•tezory Stope I Gas zs IL6 17.jj 1&8 ScopE I 269.1 192.5. 205.7 S¢ope I 17.5 6&1 67.0 4&0 Scope 3 134J 102.9 122.7 kope 3 Wa4e Scope 3 Water 6usM)ess Scope 3 416 168J 9&8 knpe3 131.2 77.2 Scope 3 101.9 Swpe 3 6.￿4.1 6.923.6 pe3 4X).7 26&1 0￿d comp￿ Use o150IJ ￿0d￿lS(twnbert '202¥23figures restated (in 2023/24J based on updoted methodology Land-based emissions and removals Our baseline assessment also included our first clear, structured estimate of the current and future carbon sequestration Icapturing and locking up carbon) and storage value of our estate, linking cornpartment-level GIS mapping of our portfolio with key field data on tree age. species and yield class from our sites. l should be now thar ernl55kirG a5sodateO pwch•sEd and servire5 teen r•lru4ttd u5w8 spendased anatyy'5. re￿n￿tarb￿ Inlthsily￿( io pr¢xurement 5rnd (pendw8onthetyveol8oodcrf serylEe￿W￿l¥e0. Akey elerheni0f(￿t de¢aTt)nhaiion Pl￿￿¥ ¢5th iradi41ty repTrKeth￿ approèth. 5twUni ¥hlhourey supplier5afid •reasof rn05t 1mpact,wthaaualew￿ Used•￿ (ly￿¢ted by$wp￿1s. Tlbs has rwr tiee supp￿, ow htlheu areaof Spend a￿or emissbns. this u5 to pre%eN an ever 5copÈ J fwint and tthr rellEa thEdecarboni5aOon athiE¥ements*tostt wrstyplfPart￿$. J61The Wooiiland Trust RtprJr¢ 4Ctvnr$ 1024.Z5

OUR SVSTWIIAOIE APPROJIOI Repeating this exercise for the current year shows that our sites sequestered 175,530 tonnes of CO2 and that our land acts as a carbon store totalling 8.4 rnillion tonnes CO2e. This demonstrates the ongoing climate benefit of our woodland creation, restoration and protection activities and continued contribution to the UK'S commitment to net zero. Our baseline includes land-based emissions. both from livestock grazing and degraded peatlands on our estate. Owing to the complexity of doing so, we haven't re-assessed these figures for the Current year but assume them to be broadly the same as in the baseline year. Where we have significant areas of de8raded peat we have ongoing programmes of restoration, and one of our key. goals next year is to better understand our peatlands so we can chart our progress in reversin8 their decline and their conversion to active carbon sinks. ¥l.O O • l A 11 D ¥0 1 111 5 $10¥ S s s low i .¢( NEr EWTING CAI•ON •tXlSTING CARK)N OUG STORAGE 146.rn T•wJn Greenhouse gos emisslons baloncefor2024/25. including landond ￿n-10ndem•s5￿￿ ond removol5. Whays next? Enact the first year of our carbon action plan, focusing principally on decarbonisation of the heating Svstem at Grantham HQ and further progression with the electrification of our fleet. Explore the potential for cost-effective on-site renewable electricity generation both at Grantham and at some of our smaller regional offices and estate sites. 371The Wf>odl•Ad Trust Reporr arth4J •¢(0￿￿[$ 2024.2 5-

OURSUSTAIIWIEAPPftOKH Continue our work. begun this year, to sensitively engage with our tree supply partners to understand the GHG emissions associated with the cultivation of our stock, and work with them on plans and initiatives to reduce those emissions. Improve the GIS mapping of peatland across our estate to demonstrate the positive benefit of our restoration efforts. Maintain our active research in all aspects of the carbon cycles of different types and age of woodland. and other associated habitats and processes, incorporating these into our models as appropriate as the science and our understandin8 develops. Further improve the transparency of our reportin8 by filling the gaps in our scope 3 reporting template, understanding the emissions associated with our investments and those associated with the tlmber products harvested from our estate. Maintain continuous improvement in the quality and completeness of our data. This includes reviewing our data collection systems, the frequency of reporting and our pro￿sseS to better measure and report on our performance in future years. RESILIENT ENVIRONMENTS Our estate is at the heart of our work. but the rapid pace of climate change poses a number of threats to this nationalty-important woodland asset. Last year we brought together expertise from across the Trust to assess these threats, lookin8 at both the increased incidence of extreme weather events (such as wildfires and severe storms), but also more chronic impacts such as those from new pests and dtseases or the cumulative impacts of disruptions to our supply chain. This allowed us to better define the risks most likely to have the biggest impact on our work Thls year, we've expanded this work. using geospatial mapping to overlay projected climate change information from a variety of external sources onto every one of our one thousand-plus sites. Starting with a pilot project in our North region, we are using this top-down approach to inform our expert site manager5 in onducting a ground-up risk assessment. This brings into play their unique site knowledge of impacts from the recent past and present, thereby combining both approaches to gain the best Possible understanding of this both immediate and future challenge. JIIThè Woodland Trust Report and accounis 2024-25

OUR SUSTAINABLE APPROACH Somple otrtputArtsm our geO$POt￿l nskmopping tool. showing examples of key risksft*r0select￿n of sltes from ourpilot5tudyin the North region. It is anticipated this work will, alongside other crucial new tools such as our Woodland Ecological Condition Assessment tool. inform site management planning- enabling us to identify appropriate climate change impact mitigations and monitor their effectivenes5 over time. We also hope this work will- allow us to better understand the regional variance in climate change risk and impact, and ensure our response is tailored appropriatelv identify opportunities to work in partnership with other landowners and communities at both local and landscape scale. to jointly reduce tlimate change related risk and mitigate impacts for the benefit of all inform the production of a clear Trust-wide approach to monitoring and responding to climate change risk and impact to provide a practical evidence-base to assess and validate climate change mode15 and dataset5. RESOURCE USE . PLASnC Plastic waste at macro. micro and nano levels continues to present a Serious threat to both aquatic and terrestrial ecosystems. in addition to posing a variety of potential human health impacts. Our commitment, in place since 2021, to 391Tht Woodland Trvst flepvri è<coufi¢$ 2024 IS

oUR5￿TAllIA￿lEAPp￿QACm maintain ambitious levels of woodland creation on our estate without the use of plastic tree guards remains a key feature of our sustainability agenda. Our first guiding principal is to avoid the use of individual tree protection and we continue to adopt various practices to achieve this. These include planting more trees than might otherwise be needed {thereby acceptin8 a level of herbivore browsing), encouraging natural regeneration from local seed sources, screefing (creating soil mounds which deter voles), and using fencing made from recyclable materials, usually underpinned by sensitive, appropriate deer management. We continue to accept some extra losses to browsin& but also the value, in terms of increased habitat diversity. this can bring to our woodland creation. For some projects- particularly smaller schemes in areas with particularly hea browsing pressure- individual tree protertion remains appropriate, and this is where we've championed research and innovation in the tree protection sector in the search for suitable, low impact alternatives (see the case study below). Away from our estate, in 2024125 we continued our practice of not offering plastic protection with our free tree packs for schools and communities, instead offering guidance on how to plant and care for the trees. From this year. we now offer plastic-free tree guards as part of our online shop range. Within our outreach work, we're now closer to bein8 able to offer landowners plastic-free tree protection within our MOREwoods initiative. with a view to rolling this option out further in the future. Through this approach, we aim to inspire other groups and landowners to join our mission to change the way we view plastic use in society. Case stud bio lastic biode radabili research Whilst we remain firm in our commitment to plant trees without plastic protection, the use of individual tree guards remains a valuable tool to ensure successful woodland creation in areas of high herbivore browsin8 pressure. The potential for bioplastic tree guards. made from plant-based raw materials, is therefore attractive, as are manufacturer claims that these products will sirnply biodegrade at the end of use without leaving waste product5 Qr toxic residues. As a responsible landowner we recognise that unless such claims are validated. we risk history repeatin8 itself - bioplastics must be a sustainable solution and not simply add to the problem of microparticle pollution. That's why we've embarked 401The Woodlathd Yrvst Aeport •hJ •tecUDts 2014-25

olA15UST￿1IABLEAPpR0AOI on research with the Plastic Waste Innovation Hub and University College London, with our estate providing the perfect geographic and ecological diversity to better understand the real-world sustainability of these products in a woodland environment. In early spring, we established test plots at nine of our sites across the estate, from Northern Scotland to the very different conditions of Hampshire and Kent. At each test plot, bioplastic samples encompassing commercially available products as well as novel formulations developed by UCL have been deployed above and below the soil surface. following a careful procedure to ensure no potential pollution from the research itself. Samples will be returned to UCL at six-monthly intervals for laboratory analysis using crystallography techniques, the results of which will help u5 understand whether bioplastics are part of a Sustainable and low impart 501ution to herbivore protection, and which materials best meet this aim under different climatic regimes. Soil samples were also tak.en for analysi5, and we hope to combine these analyses to better understand the effect of different soil types and biota on bioplastic degradation rates. WASTE Active recycling is in place at our offices. We recycle the majority of our head office waste. segregating across eight different waste streams, with anything that absolutely cannot be recycled (for example. paper hand towels, tissues and soiled food packaging) going to energy recovery. In 2024125 we achieved a greater than 99% diversion-from-landfill rate from our office locations. WATER Our water use in 2024125 wa5 1,485m compared with 1,012m in 2023124. Whilst our previous materiality analysis shows that our environmental impact through water consumption is minimal, and what appears to be a significant change is likely a result of utility billing practice, we will investigate this change and continue to take steps to drive use efficiencies wherever possible. LIVING SYSTEMS PEAT FREE GROWING Work to protect peatlands could come under any of our sustainability theme5. Peatlands are one of the most carbon-rich ecosystems on the planet, and in a natural condition have a crucial net-cooling effect on the climate while also offering landscape resilience benefits, providing an important water retention 411Yhe Woodlarbd Trusi Repori ind accoun1$ 2024.25

OVRSUSTAINA8LE APPRQACH buffer to both reduce flood risk yet also provide crucial baseflow in periods of drought. They also support a wealth of unique biodiversity. Our commitment to eliminating peat use from our tree growing contracts therefore remains at the forefront of our sustainability thinking. In the 2024125 financial year, 4.6 million trees were delivered in support of our work. 99.9% of which were grown using peat-free media. For a very limited number of small projects we had to 'spot buv trees of the appropriate species and provenance outside of what could have been anticipated through our usual contracts. In an even more limited number of cases, the only stock available on the market was Using a peat-reduced compost. We're also continuing to work towards ensuring a fully peat-free supply chain (for example, chitting seeds in very small amounts of peatl and are attNely promoting peat-reduction strategies to nurseries we work with outside of our contract, as part of the UKISG assurance standard we operate and promote. As described in the climate action section above. we remain firmly a woodland- orientated organisation. Where we do acquire degraded peatlands as part of larger parcels of land. we commit to both transparency in reporting this but also in reversing the trends caused by historic drainine and land use, seeking to restore our peatlands to their natural potential. Peatland restoration has been part of our work to transform Glen Finglas, our largest site, with three phases of restoration work coverin8 approximately 316 hettares {781 acres) of upland peatland. We also have 87 hectares (215 acres) of peatland under restoration at Smithills estate, while the restoration areas at Snaizeholme total over 100 hectares1247 acres). PESTICIDES Across our estate we use very little pesticide, having adopted a minimal approach to usa8e, 8oin8 beyond what is reco8nised as best practice for the sector. This involves undertaking a full environmental and social risk assessment prior to usage and identifying appropriate methods of non-chemical vegetation control wherever possible. When pesticides are used. it is undertaken in a very targeted and limited manner to aid establishment of new trees or to control non-native, invasive species such as rhododendron- a plant which significantly redu￿5 the ecological value of a woodland. We implement additional measures to those that are considered best practice for the sector. such as adopting larger buffer zones between a spray area and public rights of way, and tlosing areas to the public durin8 any spraying operations. By continuing to use these methods, our annual usage has remained low. with annual fluctuations depending on the condition of new land we acquire or where control has been identified as required due to external factors (for example, 421The Woo¢iland Trust tpori •ttouht$ 2024 25

IXKI YJSTAIP4ABLE APPROACH ingress into our sites). In 2024125, glyphosate was used across 141 hectares1348 acre51 of the estate or less than 0.5% of the total estate area-using 65 litres of glyphosate concentrate compared to 255 litres in 2023124; a significant decrease of 75%. This represents the lowest annual use recorded since we started reporting our pesticide use in 201X). These figures compare to a high point of over 3,000 litres used in 2013-nearly 50 times the present usage. EXTERNAL CERTIFICATION We are the first large landowner to have received the internationally recognised forest sustainability Standard of the Forest Stewardship Council• {FSCI for a continuous period over 20 years (Certificate Number SA-FM/COC-001270, Licence Code FSC-C009406}. Our compliance with the standard is re-verified each year through an independent audit. LOOKING FORWARD In 2025126 we'll continue to define and develop what it means to be a responsible, sustainable landowner through a number of key work programmes. Creating an approach to water stewardship. Our estate encapsulates various river catchments and influentes many more. How we manage our land has the tremendous potential to deliver benefits in water quality. natural flood management, drought resilience and biodiversity gain across landscapes and within communities. Progressing our climate adaptation and resilience pro8ramme- rollin8 out the refined risk assessment process and tools across the countries and regions of our estate, informed by further improved climate change projection mapping. We will then look to define and document a Trust- wide approach to the threats Posed by climate change and, in addition, demonstrate that the findings and outputs fomi this work are being incorporated into regional site management planning. Progre55ing the first year of our carbon action plan- focusing on sourcing a low-emissions solution to heating our Grantham HQ the further electrification of our fleet and determining the most appropriate means by which to decarbonise our electriaty usage. We'll also continue to monitor and maintain our commitment to peat-free growing and woodland creation without the impact of plastic. supporting research and product innovation in both fields. We'll also work hard to ensure that any alternatives to either peat or plastic themselves have the highest possible sustainabiltty credentials. 4JIThe Woodland TruSI Report ind actount5 2024-25

CYJR 5VSTAINADIEAPPROAOI Through all this work. underpinned by our sustainability strategy, we'll maintain our focus on developing and implementing the systems, processes, skills and understanding to help keep us on track. We'll also continue to build environmental sustainability into decision-making proce55es and systems whilst maintaining active positive engagement with all our stakeholders. reporting transparently on our impatts. sharing our expertise and lessons learned to inform policy and prartice, and drawing on the learnings and best practice of others. 4ijTht Wo0ilinil Trust liep•rt •rbJ accovn¢$ 2014- 25

GOVERNANCE STRucfuRE The Woodland Trust is a charity registered with the Charity Commisslon In England and Wales {no. 294344). It is a company limited by guarantee (no. 19828731 and doe5 not have a share capital. It has the consent of the Registrar of Companies to be exempt from the requirement to use the word 'Limited' in its name. The Woodland Trust is registered as a cross-border charity with the Office of the Scottish Charity Regulator {no. SC038885). The Trust's governing document is its Memorandum and Articles of Association, and this can be accessed via our website: woodlandtrust.or The Trust has two wholly owned trading subsidiaries: Woodland Trust {Enterprises) Limited (company no. 2296645) and Woodland Trust Farming Limited (company no. 6360791). The principal activities of Woodland Trust {Enterprisesl Limited are sponsorship and commercial promotions in support of the Woodland Trust, and raffles and the sale of goods by mail and internet orders. Woodland Trust Farming Limited undertakes farming on some sites owned by the Woodland Trust. All profits are donated to the Trust. Woodland Trust Farming Limited has had a small loss during the year due to the timing of clairnin8 and receiving subsidy income. The financial position of the subsidiary is being monitored and is expected to recover in 2025126. A summary of our trading subsidiaries, results appears in note 18 on page 89. The trustees have taken account of the Charity Commission's general guidance on public beneh't when setting our aims and objectives and in plannin8 our future activities. In particular, the trustees consider how planned activities contribute to the aims and objectives they have set. THE BOARD The trustees of the company, who are the charity's directors and members, form the Woodland Tru5t'$ 8oard, which is the organisation's ultimate governing body. The trustees provide leadership and direction for the charity. setting the vision, mission and strategy, which are delivered by the chief executive and theirteam. 451The Woodland Tr￿*1 Repori and accounis 2014.25

GOVERNANCE Trustees are recruited to provide the skills and experien￿ required to govern the Trust. To ensure we attract suitably skilled candidates, vacancies are advertised and shortlisted applicants undergo a selection process. Recommendations for appointment are made by a selection panel chosen by the board affairs committee and ratified by the Board. Once appointed, each trustee is provided with an induction programme and training as appropriate. Trustees are regularly provided with internal and external information relevant to the Trust's governance and make visits to our properties and woods. A performance review of each trustee is carried out every year. Trustees are required to retire after four years but may offer themselves up for re-appointment for one further period of four years. The trustees are legally responsible for making sure that resources are used prudently and only in support of our objectives, for stewardshtp of our asset5, and for ensuring that the charity complies with all relevant legislation and regulation. The trustee board operates a conflicts of interest policy. A Dedaration of Interest form is completed annually by trustees, senior management and fundraising staff, and new declarations are made and recorded at the start of every trustee committee meetin8. The Board meets quarterly to consider strategic business issues and is supported by three sub-committees. The board affairs committee promotes good governance and effective working of the Board. Members: J. Knights (Chairl, 8. Nesbitt. C. Pomfret. The finance committee assists the Board in its duty to supervise the Trust's financial affairs. It also acts as an audit comrnittee, a risk committee and an investment committee. Members: F. Cooke (Chair), C. Zissis, D. Saddington, M Wyatt. The remuneration cornmittee ha5 delegated power to approve annual salary reviews for the management team- approving the individual pay and conditions and reviewing the performance of the chief executive and senior management team. It also determines the process for reviewing the pay and conditions of all other staff. The committee receives the staff representation group's annual report on behalf of the trustees and reviews the Trust'5 gender pay gap reportinE and remuneration statement. Members: T. Hall (Chairl, J. Ogilvie, A. 8ryant, A. Thiara. A scheme of delegation, which 15 reviewed annually by the Board, sets out the delegated authority of the committees and the principal officers. The committees are chaired by trustees with a minimum of three trustee members. Committee meetings are also attended by relevant staff. Each commlttee has its decisions 461The Woodlav**i Tr￿5¢ Report and arcounts 2(iZi.25

GOVEAN*NCE ratified by the 8oard where appropriate. The day-to-day management is delegated to the chief executive and the senior management team. TRUSTEES, REMUNERATION The trustees of the company, who comprise its Board. did not receive any remuneration during the peiiod. The Woodland Trust purchases indemnity insurance to protect it and its trustees and officers from losses arising from certain 'wrongful acts. by its trustees or officers, and to indemnify them against their legal liability arising from any claim against them. PROFESSIONAL ADVISORS The Board is 5UPPOrted in its duties by professional advisers. A list of the Tru5Vs main professional advisers appears on page 92. Haysmac LLP was reappointed as auditors at the September 2024 Board meeting. MEMBERS OF THE BOARD 202412025 Barbara. Barone￿ Young of Old Scone (Chair) (retired 14 June 20241 Tony Hall CBE, Lord Hall of Birkenhead (Chair) (appointed 14 June 2024) Sally Benthall . Andrew Bryarrt Dr Fay Cooke Prof. David Hill, CBE. DL {appointed 21 March 2025) Stephen Horley (retired 13 September 20241 DrJulia Knights Briony Nesbitt James Ogilvie Mark Preston David Saddington Julia Smithies (retired 13 September 2024) Amber Thiara Marina Wyatt {appointed 21 Marth 2025) Chrlsostomos Zissls 471The Woodland Trust Report an¢J ac tount$ 2024 2 5

Details of trustees, experience and skills can be found on our website. EMPLOYEES AND REMUNERATION We have great ambitions for the delivery of our strategy and must recruit high- calibre people to represent our interests. We reward staff fairly for the jobs they do and for fostering a positive working environment. and we believe our salaries and employment terms and conditions reflect this. We employ people based on the specific skills they bring to their role. For the Trust to rvn successfully, a large range of skills and disciplines is required. and we need to pay appropriately to ensure that we can recruit people with the right skills. We also need to retain skilled and expert staff in specific functions, in a competitive market where skills are readily transferable to other organisations. We firmly believe in trying to retain staff for the long term. developing them and benefiting from their growing knowledge. This is in preference to the disruption and expense of recruitment, especially as many staff have detailed knowledge that is unique to them in the organisation and could not be quickly replaced. Our salaries are set with thi5 in mind. The executive leadership team requires a breadth and depth of expertise which involves drawing from the best senior-level talent in a competitive market. They need to be able to command the respect of their peers in the conservation and charity sector through their experience, knowledge and professional and personal credibility. At the sarne time, we seekto keep senior management salary costs at a proportionate ratio to other salaries in the organisation. Salaries for the Senior management team-the chief executive and six directors are approved and reviewed annually by the Trusys femuneration committee. The senior rnanagement team during the year comprised: Chlef executive officer Darren McM)rcroft Chlef flnance officer Alka Ahuja Abigail Bunker Pip Greensmith Toby Bancroft Ruth Hyde Dirertor of fundraisin8 and supporter development luntil 13April 2025) Karl Mitchell Dlrertor of conswvatlon and external affalrs Dlrertor of operatlons and people (until 13 April 2025J Interlm dlrector of operation5 and people (from 14 April 2025) Dlrector of brand and ¢ommunl¢atlon$ 4•1The Wotsdl•rtd Tru5l Report accouTrts 2024-25

GOVEANANCE Interlm dlrector of fundraising and supporter development (from 14 Apn'120251 Plp Greensmlth Dlrector of estste and woodland outreach (until 31 December 2024) Alistair Maltby Interim director of e5tste and woodland outreach fwef 21 April 20251 Judith Nicholson DISCLOSURE OF INFORMATION TO AUDITOR The trustees who held office at the date of approval of the trustees. Annual Report confirm that, so far as they are aware. there is no relevant audit information of which the company's auditor are unaware, and each trustee has taken all the steps they ought to take to make themselves aware of any relevant audit information and to establish that the compan¢s auditor is aware of that information. COMPLIANCE WITH TRUSTEES, DUTIES UNDER SECTION 172{2) COMPANIES ACT 2006 Trustees must act in the way they consider, in good faith, would be most likely to promote the Trust's SUC￿SS to achieve its charitable purposes. The trustees. in doing so, delegate day to day management and decision-making to the chief executive officer. who. with the executive leadership team, 15 required to art to further our strategy and to ensure that the activities are carried out in compliance with agreed plans and policies. The trustees receive updates on our performance and plans at each Board of Trustee meeting. In carrying out their duties, the trustees have regard (amongst other matter51 to: The likely Consequentes of any decision in the long term. The organisation has shown resilience through the COVID-19 pandemic and has an ambitlOUS Strategy to 2030. Our strategy focuses on the role that trees and woods play in tackling the threats of climate change and nature loss. Our vision is delivered through our goa15 to protect, restore and create the UK'S woodland. The trustees review progress against the strategy on an annual basis. Forecasts are reviewed by the trustees at each Finance Committee meeting and decisions which may impact the longer term are highlighted and referred to the full Board. 4•1The WoollaD41 Trusi Reporr ind accO￿n(S 2024.25

GOVERNANCÉ The interest of the charirfs employees The organisation has completed a pulse staff engagement survey in 2024. Staff . fed back via this survey on a variety of areas includin8'Our Organisational Nature,, the Woodland Trust as an employer. wellbeing, and learning and development. The results and agreed actions arising have been communicated back to 311 teams. Another full staff engagement survey will be completed in 2025126. The need to foster the charivs business relationships with suppliers, Customers. and others Our network of partners and stakeholders includes local organisations. local working groups, the Department for Environment, Food & Rural Affairs (Defra), local authorities. corporate partner5, grant making bodies, major donors, charitable trusts, members, supporters and volvnteers. These partnerships are key to our work. Our values of grow together, explore, focus and make it count- together with transparency and accountability, underpin our work with others. Our values govern our procurernent process. and all our suppliers must cornplv with our code of conduct and principles of our procurement poliq. The impart of the charitrfs operations on the communlty and the envlronment We have continued to invest and irnprove our safeguarding to ensure that we better protect all those we work with. Whilst all the Trustees are responsible for safe8uardin& we have two trustees designated as the lead and deputy lead for safeguarding and both have undertaken training on safeguarding. The safe8uardin8 leads report to the Board on any particular safeguarding issues requiring the attention of the Board. All staff are required to undertake safeguarding trainin8 available on our e-learning platform. The Woodland Trust continues to consider the impact of our work on the local environment and climate change. and we review our business operations and travel policy with a view to reduce our carbon footprint. Details are provided in the sertion on our sustainable approach. MAINTAINING A REPUTATION FOR HIGH STANDARDS OF BUSINESS CONDucr A5 we strive to achieve our strategic objertives, we lead by example and seek to demonstrate high standards of business conduct in all areas. Our procurement S•IThe Woodland Trust R¢porE af*d aCCOun15 2024.25

and recruitment policies reflect our values and commitment to safeguardin8 and high standards of conduct. An induction provided to new staff enables them to have a strong understanding of the organisation by covering structure, policies and procedures. along with expected conduct and other role-relevant information. Core policies that are fundamental to our work are shared with staff upon their joining. Managers are also provided with training and introduced to people management policies, procedures, bud8etin8 and planning. We require all our partners, suppliers and employees to adhere to our anti- bribery and anti-corruption policy, as well as our code of conduct. which prohibit fraud and bribery. The need to act fairly between members of the charity We are a charltable company limited by guarantee, incorporated under the name Woodland Trust. Our articles of association provide that our trustees Iwho are also the director5 of the Woodland Trust for the purposes of company law) govern our charity through the Board of Trustees. The trustees are responsible for overseeing the management of all the affairs of the Woodland Trust and delegate day-to-day management of the organisation to the chief executive offi￿r. The Articles of Association provide for admitting members who make decisions relatin8 to things such as changing the charitvs constitution, appointing and removing trustees, and voting on resolutions al the annual general meetings. Members. however, do not have responsibility for the management of the charitvs day to day activities. A person becomes a member upon becoming a trustee. Membership shall not be open to any person other than the trustees. A member stops being a member of the Trust if: la) the member dies; or (b} the member ceases to be a trustee. Public fundraising We work to build trust and public confidence in ourorganisation and are committed to fundraising best practice. We are registered with the Fundraising Regulator, support the Code of Fundraising Practice and undertake public fundraising through our website, social media. newsletters and annual campaigns. We seek to raise both restricted income as well as unrestricted income, expendable at the discretion of the trustees within the overall aims of the charity. 51jTh* Wtsodl¥n4 Ttyst Report and accounE5 2024-25

GOVEANANCE TRUSTEES. ANNUAL RISK STATEMENT Robust risk management helps us make informed decisions and take calculated risks for the benefit of woods and trees. It allows us to anticipate and respond to challen8es in our complex operating environment. A risk management poliry has been agreed and implemented by the trustees. Kev risks are reviewed by the executive directors and received by the finance comrnitteè and Board. Mitigating actions are assigned to individuals. These actions reduce the likelihood and/or impact of any detrimental events. The board of trustees has reviewed the key risks for the Trust and is satisfied that the major risks have been identified, and processes for addressing them have been implemented. A formal review of risk takes place annually. It is recognised that any control system can only provide reasonable, but not absolute assurance that major risks have been adequately managed. Managing risk is integral to our strategic plannin& evaluation and decision- making processes. Identified risks are embedded in our strategic plans and our operational management practices. PRINCIPAL RISKS AND UNCERTAIKllES DURING THE 12-MONTH PERIOD TO 31 MAY2025 The principal risks are those which. without effective mitigation, would have a severe impact on our work, our reputation or our ability to achieve our ambitions. Due to the long-term nature of ourwork we face a number of inherent princip31 risks which are constant year on year. The board of trustees h35 considered the impacts of the principal risks on the organisation's effectivene55 in achieving its strategic objectives and ambitions for woods and trees. The top four principal risks and their mitigations are surnmari5ed below. Financial sustainability While our finances are healthy, recent inflation and an uncertain external environment pose significant financial risks to the organisation and delivery of our ambitions. Our financial forecasts and triggers provide timely information, while our fundraisin8 strate8y covers a diverse range of funding sources. with ambition to grow our income. We are investing in new systems and increasing our ability to develop additional financial insight to improve our financial modelling and 511The WoodlaTrd Trust Itepori and accounis 2024-25

scenario planning. Both restricted and unrestritted operating income and expenditure- as well as acquisitions and investments-are budgeted prudently and monitored to ensure an adequate level of free reserrfes. liquidity and financial viability. The Finance Committee provides ongoing scrutiny of our we5erves, financial position and outlook. Competltlon for our agenda We welcome the high profile of climate concern and the increasingly wide range of organisations working to engage the public in combating climate change and protecting nature. In a crowded field, it is important that our voice and expertise are heard regarding the critical role that woods and trees can play and that we make sure we have the right trees in the right place for climate, people and nature. To achieve this, we maintain excellent networks across the environmental sector, sharing our specialist knowledge and building our brand and profile through tools like Tree Equity Score UK. our UKISG assurance scheme for trees, and reports like State of the UK'S Woods and Trees and Trees and Woods: at the Heart of Nature Recovery. Focusing our protect, restore and create artivities into the TrusV5 priority Treescapes enables us to demonstrate exemplary delivery for key woodland habitats- providing compelling narratNes to underpin our communications to inspire individuals, communities. businesses and decision-maker5. We carefully consider when and how best to work with others to further our shared cause and maximise our joint impact, and when and how to address others, poorly informed initiatives that might be detrimental to trees and nature. Failure of a major project or programme Large scale cross-organisational projetts and programmes are inherently risky financially and, potentially, reputationally. However, large, complex projects and programmes such as the Northern Forest lin which Snaizeholme is situated Isee page 13)) or a new supporter database are necessary if we are to deliver the scale of our ambitions. To maximise our chances of success, we only undertake major projects and programmes after careful consideration and put expert account andlor project management in place with dedicated resources, appropriate governance 5tructure5, regular monitoring and senior executive level oversight. 531Tht Woodland Trus¢ Keport and accounts 2024.25

GOVERW4KE Cyber securfty Cyber-attacks are an everyday occurrence across all sectors and are inherent In our use of technology. We cannot eliminate the risk but seek to mitigate it through robust security infrastructure, staff training and support, and back-up 5eNtces. We have had external cyber security audits during 2025 and have a robust action plan in place to manage and mitigate risks and strengthen controls. Hami to person or people Health and safety plans, safeguarding and other risk assessments and risk management plans for our sites and projects lead us to assess the likelihood of this risk to be unlikely. However. we consider that the potential impact of this risk could be substantial and should be kept at heightened focus. This is to reflect the unpredictability of a one-off risk event. such as a serious safeguarding incident which could be perpetrated by an individual at any time, causing catastrophlc consequences for the Trust and survivor. RESPONSIBILITIES OF THE TRUSTEES OF THE WOODLAND TRUST The trustees are responsible for preparing the report of the trustees and the financial statements in accordance with applicable law and UK accounting standards (United Kingdom Generally Accepted Accounting Practice). These give a true and fair view of the state of affairs of the company and the group as at the end of the financial period, and of the surplus or deficit of the company for that period. In preparing these financial statements, the trustees are required to: • select suitable accounting policles and apply them consistently • observe the methods and principles in the Charities Statement of Recommended Practice make judgements and estimates that are reasonable and prudent state whether applicable UK accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements prepare the financial statements on the going concern basis, unless it is inappropriate to presume that the charitable company will continue in bu5ine5S. So far as each of the trustees is aware at the time the report is approved: there is no relevant audit information of which the company's auditors are unaware 541The W••4l*h4 Trvs¢ Report and itcount$ 2024.25

GOVERNANCE they have taken all steps that they ought to have taken to make themselves aware of any relevant audit information and to establish that the auditors are aware ot that information. The trustees are responsible for keepin8 proper accounting records which disclose, with reasonable accuracy at any time, the financial position of the ompany, and which enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and for taking reasonable steps for the prevention and detection of fraud and other irregularities. The trustees have taken account of the Charity Commission's general guidance on public benefit when setting the Trust's aims and objectives and planning our future activities. In particular. the trustees consider how planned adNlties contribute to the aims and objectives they have set. The report of the trustees, which incorporates the requirements of the strategic report, was approved and authorised for issue by the trustees on and signed on their behalf bv: Tony Hall CBE, Lord Hall of Birkenhead Chair 26 S¢pi¢mber 2025 551The Woodllhd Tr¥sr Repor¢ and ac¢rJunrs 2024.25

FIIIAIIOAL REVIEW FINANCIAL REVIEW The continued support of our members and supporters provides us with the financial base needed to meet the ongoing challenges of the economic landscape and the nature and climate emergency. We continue to tarefulty manage our expenditure as well as monitor our liquidity and financial position, to ensure that reserves remain within Trust policy. Our financial position enables us to navigate current economic uncertainties. FINANCIAL SUMMARY Thanks to the 8enerosity of our supporters, income has continued to grow in 2024/25- a record £89.4m and E5.2m {6%) higher than in 202312412023124: £84.2ml. Total charitable expenditure for 2024125 was £61.3rn {2023124- £60.3 million), and the cost of raising funds was marginally lower at £ll.Im {2023124.' 11.3m) leading to total expenditure of £72.4m12023124: £71.6m). Thls led to surplus for the year of £16.9m (after taking into account investment losses of £O.Im). The net surplus has funded investment of £10.2m in the acquisition of new sites. With sincere gratitude, we acknowledge the generous contributions of our members, supporters and philanthropic donors. who have enabled us to acquire an additional 581 hectares (1,436 acres) of woodland to restore back to health and safeguard for generations to come. Some of our major acquisitions are listed on page 15 of this report. Free reserves for the year ended 31 May 2025 were £41.8m (2023124: £38.5m), representing 5.7 months of total budgeted expenditure for 2025126, which is in line with the Trusvs reserve policy of six months budgeted expenditure. We remain committed to managing our reserves prudently through careful strategic planning, designating funds as required and management of our resources. Total financial reser4es increased by £16.8m, representing a net increase of £9.4m in funds relating to woods and land, a decrease of £2.9m in other restricted funds and an increase of £7.4m in designated funds. Investments at £40m remained at similar levels to 2023124. Cash balances increased by £2.5m to £16.4m, providing sufficient liquidity in line with the policy set by trustee5. 54IThe Woodland Tr￿51 Report atc•uth¢$ 2024-2S

FIIIANCIAL REWEW INCOME Total income increased by £5.2m16%1 to £89.4m (2023124: £84.2m) due to the continued sUPPOrt of members and supporters. Income Distribution in £m: 2024/25 and 2023124 r4[ al￿%￿1e$ •2024125 020231 24.1 19.6 172 IJS 4Xt 1024125 2024125 2023124 2023124 Income Legacie5 Charitable actiwties Corporates, trnsts, landfdl tax and donated land Membershlps Fundraising and appeals Trading Investments and oiher 24.1 27% 25.9 19.6 22%. 17.2 17.5 12.2 14%" 13.6 Is% 13.4 .16% 4% 3X Total Incomè Gifts left in wills continue to be the biggest source of our income127%1 at £24.Im despite a decrease of £1.8m in legacy income from record leve15 in 2023/24 {£25.9m, 31%). We are very grateful for each of these gifts, which reflect the trust of our supporters in our ability to invest in projects, acquisitions and our work in protecting, restoring and creating woodlands for the benefit of future 8enerations. Nearly one in three of the millions of trees we plant, and almost a quarter of the woods in our care and the wildlife habitats we create are directly funded by gifts in wills. Income from charitable activities grew to £19.6m (2023124: £17.2m) and is 22% of total income (2023124: 20%). This includes grants and income generated through woodland management. including the sale of timber, some of which $71The Woodland Trust Aeport ic¢ounr$ 2024-25

FIWICL4L REVIEW follows the devastating clearfelling of diseased trees. By felling trees as soon as disease is detected we can still sell the timber and use the funds to help replant the site. Our corporate partners and charitable trusts continued their valued support by contributing £16.9m12023124: £12.8ml of income. At 19% of our income in 2024125, this represents a growth of 5% over 2023124. Our corporate partners indude Aviva, Lloyds Banking Group, OVO. players of People's Postcode Lottery with funds awarded by Postcode Green Trust, Sainsburfs, and many more. A full list can be found in the annual review on our website at Wc￿dIandtrUSt.0rg.Uk. Income from membershtps remained at 2023124 levels. totalling £13.6m. Total income from fundraising and appeals fell by £0.5m to £8.9m12023/24: £9.4m). We had a record-breaking year for appeals, with £1.7m received (2023124: £0.6m). largely driven by the succes5 of our appeal for the acquisition of Harrison Woodlands. However, the success of our appea15 impacted on general donations, which fell to £5.7m (2023124: £7.6m). NEf INCOME Net Income for this period was £16.9m (2023124: £13.7m). £10.2m of net income was invested in the acquisition of woods and land. Our charitable objectives include the purchase of land to either protect, restore or create woodland. To ensure we a￿ successful when we find woods and land that fit our objectives. we: negotiate, wherever possible. an option to buy the land within an agreed timeframe needed to raise the funds sometimes work with partners who will buy the site on our behalf and 8ive us time to raise the funds to pay them back rely on the generosity of oursupporters and donors to acquire these sites use free reserves if required to complete the purchase as we continue to raise fvnds. S•jThe Woodland Trus1 Re.pori and acc¥)yni$ 2024.25

FINANCIAL AWEW SPENDING TO GENERATE FUND5 The cost of raising funds fell marginally by £0.2m to £ll.I million (2023124: £11.3ml. For every £15pent on fundraisin& we raised £5.78 in return (2023124: £5.40). Included within fundraisin8 Costs is the cost of recruiting new donors and administering supporters, generous donations and membership subscriptions. Proportionate costs related to teams such as finance. information technology and human resources, which provide support and governance, are also included. EXPENDITURE Of every pound we received in 202412S, 87p12023124: 84pl went towards our charitable objectives. This amount fluctuates year on year and is dependent largely on how much we spend on buying woods and land. Total expenditure on operational costs and on buying wood5 and land was £82.6m: expenditure totalling 92.4% of income at £89.4m. This was largely driven by £10.2m of investments in woods and land during the year. Expendlture ￿ Go•1 ond Fundrnlslng Costs (£m> Create Aesto PioiEd Generating lurtds 11.1 2024125 2023124 52.6 2J 15J 27.6 18 14.6 iiJ 5?ITht Woodlaffld Tru5 Report and •ccounr$ 2024.2S

Totsl T•tsl Totsl •nd la•1 In(￿deS tree pl8ntthi on ft￿￿￿1 sG•T•y pr•parln8 sltes for Wantln& and I￿ldIng events th•t alow people to aclfvllle> Z7 32.6 In&Jdes slte deaT•rvf 23 eMtrKtlon. access for¥lsltor and malfitenan￿. PrOleCU￿4￿c1eNttrees•ftO InthAes thè rnmov•l of In¥•sl¥e plant Spe￿¢ troe sahty. •NI ecologi¢41 surneys and assessments. GOI￿•11n fvnds 15a IQ6 11.1 iJ% 11.3 Tot41 costs RESERVES POLICY The trustee5 review the Trusys ￿serveS policy annually and consider the appropriate level of financial reserves. The reserves policy sets an upper and lower limit for free reserves stated in terms of the number of months of expenditure budget as well as a target amount. The Trusvs reserves policy is to hold six months of budgeted expenditure in free reseprfes. This target of six months, cover sits within an operational band of five to seven months, cover, with minimum limit of three months, cover and a maximum cover of 12 months. The Trust holds £41.8m of free reserve512023124: £38.5m), representing nearly six months of total expenditure. This is within the operational band of six (+/-I monthl months, cover as per our reser4es poliry. Income levels budgeted for 2025126 reflect the strength of our funding and legavi pipeline due to the continued support of our supporters and members. Our financial projections indicate that free reserves will remain within the limits established by our reserve5 policy. Trustees monitor the levels of reserves to ensure financial resilience in these uncertain times. 4•ITh¢ Wovdlind Trust Report and èf coufftt5 2024.25

AIIANCINIREVIÉW FUNDS Total financial reseNes at 31 May 2025 were £222.5m12023124: £205.7ml, an increase of 8.2% (£16.8ml over the year. Of these, investments of £161.5m are restricted to specific projects and include £134.Om in woods and land. Totsl funds also include £41.8m of free reserves (2023/24: £38.Sm). representing nearly six rnonths, worth of budgeted expenditure. Details of funds held as of 31 May 2025 provided below: Ftsnd$ A5 of31 May 2025 As of 31 May 2024 Unrestrfrted Free re5erve5 £41.8m £38.'Sm Designated re5ewve5 Fixed as5et5 £.14.2m £6".8m. £5.Om £5.Im Total unrestrfrted £61,.Om Aestrlcted Woods and land assets £134.Om £124:6m Restrictèd funds £19.7m £22'.6rn Endowment funds É7.8m £8.1rn Total restrirted £161.5m Total lunds f205.7m RESTRicfED FUNDS These include grants. gifts, donations and legacies which have been given or bequeathed to the Trust to be used in accordance with the specific wishes of donors or their representatives. Both the capital and the income may only be applied for the purposes for which the funds were provided to achieve our mission. Of total restricted funds of £161.5m. £134m is represented by woods and land which the Trust does not intend to dispose of. Land available for resale represents woodland purchased for planting and onward sale in due course under the Trust's 'purchase, plant and pass on. and 'purchase. restore and pas5 On, schemes, or donated land to be sold. PERMANENT ENDOWMENTS These comprise funds given to us along with gifts of woods and land underterms requiring that the funds be permanent; Intended to provide income for future management of these woods and land. In certain circumstances. some of the original capital can be expended. OIIThe Vioodland Trust Reporr ¥nd a¢¢ounis 2024.25

ANANCIAL REV*W UNRESTRicfED FUNDS Unrestricted fund5 are those available for use at the discretion of the trustees in furtherance of the Trust's objectives. These funds arise from unrestricted grants or legacies, donations obtained from general fundraisin8 actNities, and any surpluses generated from our day-to-day operations. Free reserves are unrestricted reserves freely available for spending on charitable purposes. As of 31 May 2025, our free reserrfes amount to £41.8m, representing nearly six months, worth of total expenditure budgeted for 2025126 in line with our reserves poliry. DESIGNATED FUNDS Designated fund5 are part of unrestricted funds, which trustees have earmarked for particular projects or use without restricting or committing the funds legallv. The designation may be cancelled by the trustees if they decide that the charity should not proceed or continue with the use or project for which the funds are designated. Designated funds of £14.2m include known operational commitments for long- term projects {£9.2ml and match funding forfunded projects {£5m}. INVESTMEMf POLICY AND PERFORMANCE The Trust's Investment Policy Statement provides a framework for the management of its investment assets. It set5 Out investment objectives and approach to risk as well as ethical considerations. The Trust seeks to obtain the best financial return from its investments, in line with its ethical policy and consistent with commercial prudence. The policy is reviewed on an annual basi5. The Trusvs prime ethical consideration is to identify and avoid any obvious conflicts of interest between the issues concerning the Trust as defined in the ethical policy, and the objectiveslactivities of any company whose shares may be acquired for the purpose of investment. For example, we do not normally expect to transact with organisations involved in activities that lead to the loss of, or damage to anclent or veteran trees or ancient woodland, or the loss of biodiversity. The Trusvs long temi investrnent portfolio is managed by two professional investment managers. The trustees rely upon the investment managers for fund selection and asset allocation. Investment performance is compared to an independent benchmark and the target for Investment returns is to outperform thi5 composite benchmark, as well as provide returns of the Consumer Price Index (CPI) plus 3.5% over a rolling five-year period. We continue to hold a proportion 621The Woodland Trust Repori and accounts 2024 2$

FINA14CIAiREWEW of our cash holdings in investment grade bonds to increase their returns without exposin8 them to the level of volatility associated with equity investment funds. Total investments are £40.Om {2023/24.- £40.Oml. of which E14.3m (2023124: £14.Iml is held in term deposit funds and £25.7m {2023124: £25.9ml as long- term funds which are held with our professional investment managers. Term deposit funds are held in banks or building societies which are authorised to carry out business in the UK and. where rated. the ultimate owners have long-term ratings of at least A3 or A- by MoodWs. Standard & Poorfs, or Fitch. 03IThe Woodlah4J Tru5r Kep•rc afcoufii$ 2024-25

Fir4ANC￿L REVIEW AUOITOWS REPORT INDEPENDENT AUDITOR'S REPORT TO THE TRusfEES OF THE WOODLAND TRusr Oplnlon We have audited the fiTr?rKial 5tstements of the Woodland Trust for the year ended 31 May 202S which comprise the Consolidated Statement of Flnancial Acir¥ities. the Group and Parerf Charity Balance Sheet5. the Consolidated Cash Flow Statement arKI notes to the finanoal statements. Ineludine è summary of slgnificant accouniing polloes.The financial reportingframèwork thai has been applied in their preparation is applicable law and Unlted Kingdom Attountin8 Standard5. indudine Finantial Reporting Standard 102 The Finonaol Reporting Stondord oppliti>ble in the IJK ond Republic of Irelond (United Ki￿d￿rn Generally Accepted Attounting Pla￿￿e}. In our opin)n. the financial st?temenls= Bive a true and fair view of the state of the Broup's and of the parent tharitable company's affair5 as at 31 May 2025 and of the group's and parent charitable cornpanWs net movement in fund5, indudin8 the income and expendirure, lor the year then ended.. have beer¢ properly wepared in accordance wth Unrted ￿ne￿¥M Ge￿rallY Accepted Accountin8 Prattice,. and have been wèpared in ¥cordano with the requirements of the Cornpanies Ad 2()6 ar￿ thè Charitles and Trustee Inve5tmÈnt Iscotlandl Act 2(X)5 and regulation 8 of the Charities Atcounts Iscotiandl Re8ulation5 2(b5. 8asls for oplnlon We conducted our audrt in accordarKe with Intemational Standards on Audlting IUKI IISAS IUKII and applicable law. Our responsibilities under those stsndards are further described in the Auditorfs responsibilitles fof the audit of ihe financial statements settion of oui report. We are indepentleni of the group In accordance￿1h the ethl(al reqvirements that are relevantto our avditof thefinancial statements in the UK. includift8 the FACS Eitr¥"cal Standard. and we have fulfilled our other ￿hical responsibilities in attordaneewith these requirernents. We tel￿Ve that the audtt evidencewe have gbt3ined is sufficlèrt and appropriate to providè a basi5 for our opinion. Ct>Atknl¢>ns rlatln8 to 8th comern In auditlng the financial siaternents. we hwe conduded that the trustee5' Use of the80in8 concern basls ol accounti￿ in the preparation ol financial ststements is appropri*e. Based on the work we h￿e performed, we have not identtfied any materoal uncertainties relating to events or conditions that, indivldually or collettively, may ost sienificant doubl on the group's ability to continue asa go¢ng concern for a period of at leastlwelve monthsfrom whenthefinantial 5taternents are authorised for issue. Our responsibilitiès and the rt5ponsibilitie5 of the trustees with rèspÈct to going concern are descrI￿d in the relevant 5ectlon50f this re (Xhef l￿fOr￿￿tIOn The trustees are responsible for the other ￿fOrnIa110n. The othef infom)ation comprises ihe information included in ihe Trustees, Annual Report. Our opinion on the financial 5tatement5 doe5 not covef the other information èNI. excepl to the exteni otherwise explicitly stated in our repor( we do not express anyfofm of assurance condusion thereon. In connection wih our audit of the financial statements. our responsibility is to read the other Infomiation and, in doin8 so, consider whether the other information is materialty inconsistent with the financial staiements Of our knowledge obtaI￿d in the audit or orherwse appears to be Mater￿1￿ misstated. If we identify such material inconsistencies or apparent material mi55tatements. we are required to delermine 04jThe WoodlaD+J Trus Report actovnis 2024 25

FfNAIKIAL REVMV AUDITOfS REPORT whether there is a material msstaternent in the financial sraiements or a rnaterial misstatement of the other infofmatlon. If. based on the work we have performed. we corKlude that there is a materlal misstatement tsf this other inforrnati¢M. we are required to report Ihat fart. We have nothing to report in thls regard. Oplnlons C￿ other matters pres¢rfbed bythe Companies 2￿16 In our opinion. based on thewwk undertaken in the course of the audit.. the Snformati¢)n gi¥en in the Trvstees. Annual Report Iwhith includes the Strate8it report and the directors. report prepared for ihe purpose5 of company lawl for the financial year for which the nanclal statements are prepared is consistent with the fiftant￿al statements.. and the strategic report and the dirÈrtors' report induded within the Trustees, Annual Report have been prepared in accordance ￿th applicable legal requirement& matte￿ on whlth we are requlred lo report by emumion In the light of the knowledge and Undersrand1￿ of the 8roup and the parent chariiable company and its environment obtained in the course of the audil. we have r￿t identlfied material misstètements in the Tru5tees' Annual Report Iwhich rncorporates the strzlegic report the threttors. reportl. We have nothing to report in respect of the followinB matters ￿ relation to which the Coffpanies Att 2006 and the CharityA¢£ounts (Scotlandl Regulations las amendedl require us to report toyou if, in Qui opinion.. • adequate 3ccountin8 records have not bèen kept by the parent charitable company,. or the parent charitsble company financial statements are noi in agreement with the acwunting records and returns,. or rtain disclosures of trustees, remuneration specified by law afe noi made- or we have not received all the information and explanations we require for our audit. Aesponsibililie$ of trustees lorthèfinandal s￿leMents As explained more fully in the trustees. responsitslitie5 5tatementset4yJt on pages 54-55. thetfustees Iwho are 3150 the diiettors of the charitable tompany for the purposes of company lawl are responsible for the preparation of the finarKial statements and for bel￿ satisfied that they give a true and fair view. and for suth internal control as the trusiees determine os necessary to enable the preparation of financial sfatemtnts that are Iree from maierial mssstatement. whether thje io fraud or WTOr. In preparingthè financial statÈmèNts. the tiusiees are responsiblè for assessityd the Broup's and the parent chafltal>te companws alylity to continue a5 a going concern, dix10si￿ 35 applicable. matter5 r?lated to 8oln8 con￿rn and usln8 the goingconcern basi5 of accountin8 unless the trustee5 either intend to Siquidate Ihe group or the parent charitable company or to cease operatK)ns, or ha¥e no rezli%tic alternattve but to do so. AudltoVs responsibllltles for the awdlt of the financlal staternents Our objectives are to obtsin reasonable assurance about wheiher the financial statements as a whole are free from material misstaiement. whether due io fraud or error. and io issue an auditorfs report that Includes our opinion. Rea50nable a55urance is a hi8h level of assurance. but is not a Buaranlee that Jn audit conducted in accordance wlth ISAS IUKI will always detect a Mater￿1 mi5Statèment when it exist5. Misstatements can arisè Irom fraud orerroi and are tonsideied material rf. individually or in the aggregaie. they could rea50nably beexpected to infiuence the economic decryor￿of u5er5 taken on the basi5 ofthe5e financial statements. Irre8ularrties. indudin8 fraud, are insiances of non<ompliance vrith laws and regulatitins. We design procedures in line with our resw)nsibilitres, outlined abo¥e, to detect material mtsstatements in respect of irregularitie5. indudin8 fraud. The extent to which our prwedurÈ5 are capable of detedinB irregularities, includin8 fraud is deiailed below- 651The W•o4laftd Trust Report Ind attounT$ 2014-?5

FINANCiALREVRW AUDITCffS REPORT Based ¢)n Our understandk ol thÈ youpldmritable compary and the vwlronment in whith it operates, we identified that thÈ prinopal of r￿n-ComPlian¢e wlth laws and re8ulalions related io Charfty Comrni$3ion, OSCR. Charity law. Company la4v. fuThJfaisI￿ regulations and GDPR, and we consrdered the extent to whith non-com￿lan￿ M￿h1 a maierial effett on the fifta￿la1 statements. We also considered those laws arKI regulations th•t direct impart on thè prtparation of the financial statements such a5 Companies Acl 2006, the Charities Act 2011, Charitbes and Trustee Investment Istotlandl Act 20J5 and regulation 8 of the Charities Aceounts15cotlandl Regulations 2(￿ and consider other lattors suth as intOrnÈ tsx and payrol taxek We evaluated rn?rta8emenf5 incentNes arnl opportunities for fraudulent manlpulation of the financial statements lindudln8 the risk ol override of controlsl. and dètèmioned that the wlnelpal risks were related to postlng inappropriate ioumal entries to revenue and rnanagemènt bias in accountin8 estrmate and application of contfols afLJnd authorisation of ÈMpÈnditure and payments . Audit procedures performed by the engagement team induded.. Inspecting Cor￿spondente with regulators and tsXau¢I￿ritIeS. Dlscvssions with management in(knlin8 £onsideratK)n of known or susperted InStsn￿ of non- compliance with la4￿% an(1 regulation and fraud; Evaluati￿ manaBernenVs controls designed to pre¥ent and detecl irregularitles. Identifyin8 and testing iournaLs, in partKulaT Jwrnal ￿trIeS Posted with unusual account com￿natiOns. postiw by unusual users or wtth unusual de5cription5: challe￿ingaS$UMp￿0nsaI￿l judgernents rnade by m3na8ement intheiruiticalaccounting estimates Because of the Inherent Imitsticffis of an audit. there Ss a risk that we will not detect all Irregularilies. Includin8 those leadin8 to a materlal misstatement in the finanaal statements or norkcompliance with regulation.Thlsrfjskincreases the more that£DM￿lantr a law or regulati¢)n Is removed from the events at)d transadions reflected in the finanoal siatements. as we will be less likelyto become aware of instances of non.compliance. The risk is also greater regardit Irregularit￿5 occurr1￿ due to fraud rather than error, as fraud invdves intentional corealmenL for8try. collusiory omi55ion or mksrepre5entslion. A further dèscription of our restrt)nsibilitI￿ for the avdit of the finandal ststements is located on the Flnanclal Reporti￿ Coundfs webslte at: onsibilities. This description forms port of our auditorf5 reporL Ltse otow report Thls report is made solety to the charfjtaljle company's members. as a body. in attordafiee with Chapter 3 of Part 16 of the Companies Aci 2￿￿. settion 44IIMcl of the Charities and Trustee Investmènt Iscotlandl Act 2(K15 and rryuIats￿ 10 of the Charities Atc¢wnts IScotlaThYI Regulat￿Tr$ 2006. Our audit work has been undertaken so that we might state to the charitable companvs [r￿￿r5th0se matters we are required to slate to them in an Auditof s report and for no other purpose. To thè fullest e(ent permitted by law, we do not accept or a55ume reswnybility to anyone other than the tharffiable company and the charltable company's rnembers as a body. for our audrt work. forthis repor( orforthe oplnionswe have formed. c££ Kathryn Burton Isenlor StstutoryAuttorl For and on behalfof Haysmac LLP. siatutoryAtyJitors 10 Queen Street Pl London EC4R IAG 3rd October 2025 IThe Woodland Trust epo¢r and •<counts 2024-25

FINANCK4L REWEW COIISOLIOAYEDST4TEMEP4TOF FINANCk4LAcfMfiES FOR ThEYEAAENDE031 MAY 2025 Consolidated statement of financial artivities for the year ended 31 May 2025 6t￿rnI End Yotsi 2023124 furnls knds 2024ns 'u DDnarJns Iwoes Other tiadDVd actNities Inve5tmenis Charitawe actfvitie5 Otlw income Totsl Inrorne and 44542 17.570 64.111 60,910 3353 16 3.992 L613 113 1.9?1 l.B54 5.745 J3.8?I 19.616 17.202 ats4 247 55557 3L570 152 89.379 84,205 p￿ett twoodLind Aestore woodLind Create 18.816 16.3511 115.16 110.7511 17.7(# 118.4511 118.4731 IlQ6991 110.9381 117.637 127.4251 txpendltyre Toi•l ¢h•vii•ble expendlliire Cost ofraisir funds Tol•l exptn¢iture Ilet Incomèl IZ4.9191 161.255 I￿?$•) 110.4721 156BI 111,2891 14&7381 125.5S7) 1713S61 PL577) 6J113 191 17fvZJ lexpenthtsrEI 00$￿$) I￿nS Net1kn5tsll ns io 1,099 Nei kncornel lexptn Translers SJYO 143 13.727 lund5 16 14011 Irthfunds Fund bakn 6534 16A63 13.727 43.￿3 147.197 205.65J 191.926 ai iiune I ￿n￿ balances rled ltyw•rd ai 31 May 16 4&746 This ￿atement of financial activiknes eNdudes £10.243k12023124.. £366klof woods and land acquired and captali5ed as per note 8 Ipage 821. There are no re¢ognised ca￿50r k)sse5 Otherthan those 5howr• in the consdidated $￿eMent of financial atthe. The notes on pages 7￿1 f￿M part ofthese a£crwLt& All incorne and expethdTture is deiNed from continuing artMts. No separate income and expendftureacCoL￿ta5 required undertheQ)hyniesAtt has been presented. as the only difference between the ￿ expenditure frKthe peTKxI tefrffe transfer5 of £17,023k andthe net surplL forihe ptriod of E16.863k. as delified unthr ihe Coffrf>ans A¢1. arethe k)sses ofi investmÈnts of £16 A Comparative statement of financvdl actNities is i￿l￿ded in note 24 Ipage 911.

F114ANOAi REVIEW LAPKE 5HEETSAT31 MAY Z025 Balar)ce sheets at 31 May 2025 Group Char Charity ZOZ3124 10241 2C123124 £'ooo fXX)O £'ooo 134.038 124.556 134.038 124,556 4,977 5.149 4.977 5,1491 t139￿15 | 129.705 | ￿9.015 | ￿9.705 | 10 1 40.015 | 39.975 | 40,015 | 39.975 | 1179A130 | 169.68ri 1 179030 j 169.680 | 622 542 542 Cate8¢)ry Analysls Ilote 2024 Ta￿lbleW1)0dS and land Flxed asset5 Ta￿lble oiher fixed assets and Total fixed assets Investments | Investments Total fixed ?$5ts and Investfflents | Land for planting and resale Stocks | li 12 554 397 266 Current Debto 13 35,305 31.715 35.543 31,841 16.441 13.946 16.214 13,793 52.922 1 46.652 | 52.776 | 46,442 | 19.4361 | 110.6791 | 19.2791 | 110,4691 35.973 43A97 35.973 Cash at bank and in hand | T￿al ¢uryent assets Amounts falling due wiihrn one ar Creditors 14 Net wrrenl sets Long-term debtors | Net a￿ets Total current ￿ assets Amounis falline after oneyear | Tffjal net assets j 17 1 u4516 | 205.6S3 222.527 | 205.653 | i Unrestrlcted general funds 16 46.7461 43.6031 46.7571 43.603 j Unfestricted designated funds 14.224 6.780 14.224 6.780 nanced by Restrirted funds 153.731 147,197 153,731 | 147.197 Permanent endowmeTrts 16 | 7.815 8.073 8,073 | Total reserves 1222.516 | 205.653 | 222.527 | 205.6531 The net movement in funds for the parent compafty is a st￿1￿$ of E16.863k12023124.. £13.727kl. 15 16 16 These accounls were apwoved and authorised fori55ue by the truses and signed on their behall by: Tony Hall CBE. Lord Hall of Blrkenhead Chair CoMp￿V number= 1982873 26 September 2025 The notes on pa8e5 7￿1 fomi part ofthese accwnts.

FINAIICIAL REVIEW C014SOLI)ATEPfA5H FiIMYSTATEMEF¢T FOftThE YEAR ENDED 31 MAY 2C125 Consolidated cash flow statement for.the year ended 31 May 2025 Category Analysls Plote 2024Iz5 'ty)o 10.506 j 10.506 1.978 19.6751 11141 19.9661 12081 9.974 1 18.01111 2,495 | j 13,9461 2023124 £.￿0 5.7521 5.7S2 1.8S4 11281 1551 111.594> 16931 12.149 L533 | 7,285 | 6.661 | 13.946 | 12,628 11,8541 12381 Cash inflows | Net cash flow from operotiTh4 actr¥itie5 | Investment income Purthase ofwoodLind and land Operatlng attivities Purchase of fixed asset5 11￿$ting acllvitis Purchase of investments io Net liquid rno¥ernent Sale of investments l Nel cash Ilowfrom Investing aclivltle5 ChanEe (n ush and l Net movement in cash in theyear ¢a5h equi¥•lents in I Cash at l June the year j Cash at 31 May Nel income lexpenditure Investment inctsmÈ io i io 17.0231 11.9781 15671 39 Donaied woods and land Oepreciatitin woods and land Deyeoation other fixed assets ioss on ￿￿POsal ofwoods and land Ilnueasel / decrease In land sto( IincreasÈl I decrease in Mock Ilncreasel Idecrease in debtors Increasel Idttreasel in tteditors Iln(reasel I decrease in lon8 term debto l Net cash inllow fr¢xn operatl a£ti¥liles Openiw balance l Jur Net mo¥emeni In cash In ihe peritid I Closlng balan¢e 31 M {•) Reconc511ation of tt income to nèt ¢a5h flow from operatln8 a¢tlvlts 286 323 722 1801 12 46 16.4981, 1,36S 13 13,5911 11.2431 14 10.5061 13.946 2.495 5.752 1 6,661 | 7,285 Ibl Analysis of dnBe In net funds 16.441 13.946

F114ANOAL thIIEW TE570ThEACCIMJMtS FOR THEYEAR ENOED31 MAY 2025 Notes to the accounts for the year ended 31 May 2025 I. ACCOUNTING POUCIES . Nature of Ihe entlty The Wi)odland Trust is a company limited by 8uarantee. reglsiered in England and Wale5, and a charity reglstered with the tharity Commission the oifice of the Scottish Charily Regulator. IJ. 8a515 ol a¢¢￿ting4nd statement 01￿MPliance The financial staternents have been prepared under the historical cost convention las modified by the revaluation of listeil investments to mathet value). The finanaal Statements have been prepared in accordance with the Companies Aci 2￿6. FRS 102. thè FINa￿al Reporting Standard applitable in the .UK and Ireland. Charities and Trustee Investment Iscotlandl Att 2CK15- Ihè Charitles Accounts (Scotlandl Re8ulaiions 2￿.. and the siatement of Reeomménded Prartite'Attounting and Reportin8 by Charibe5'1'SORP 2019.1. all as clarified by subsequent w13te bulletin5. The Trust Is • Public Benefit Eniiiv as defird by FRS 102. Preparatlon ofthe accounts on a goiwrKern ba515 The tru5tee5 consider that there are no material Un￿rt￿ntS whith woukl cast doubt on the Trusfs ability to continue as a 8c4Tr8 concern. d. 8a$ls of <onsolldatlon Consolidated financial statements have been yepared for the Woodland Trust and its wholly owned subsidiar*s= WoodlaThl Trust IEnierpfisesl knmited and Woodland Trust Farming Lirnited. ThÈ turnover and expendilure of the svbsidiaries ale IndUd￿ wtthin the tonsolidattd statèment of financial activities. The assets and liabilities of the subsidiaries are indudEd on a line-by4tne basis in the consolidated bala￿4 S￿et in accordzrKe FRS 102 Section'9- Consolidated and Separate Financial ststernenls. Uniform accounting pol￿e$ are adopted thTOU8hout the group and any profits or losses arlsing from intra-group transacti¢)ns are elwninated in the cor69lidated statement of financial arti￿￿"e5. A separate Statement of financial actNities has not been prepared fof the d)arity as permitted by Sectign 408 ofthe C(%npanies Act 2C(6. e. Fund accountl Restrl¢ted fvnds These funds indude donatior&, le8ades and 8ranis whlch been eiven to the Tmst to be used in accordance wlth ihe ￿$he5 of the donor. All woods and land purthased and donatèd havè bten dassified as resirirted fund5. This is 3 prudent approach a5 It ￿ [￿t practicable to revlew the legal documents and funding condition5 on all of the sites acquired s•nce the Trust wa5 established. These represent money given in coniunrtion with 8ifts of land to lor their luture conseryatlon. All the end¢)wments are intended to be perrnanenL Wlth the ori8inal capltal bel￿ maintained and the income and capital 8rowth bein8 ¥tslised. In wtain Cifcurnstar￿. some of the oli￿nal ¢aytal can be expended, subject to the terms of the endowment. General fvnds These Unlestrict￿ funds can bt usèd for any of the Tnlsvs purptsses. DesI￿ated fvnds These funds have ljeen set aside oul of unrestrirted funds by the trustees, for specifTrc purposes. The aim and use of each desienaied fv¢KI is set out in the notes to the aco)unts.

FIIIANCIAL REVIEW IIOTES TOThEACCOVNTS FOA THEYEAR ENDED31 MAY2025 ICONTINUfDI f. Income and endowmeftts Incomè is recognised once the Trust has met all of the followin8 Uiteria= entitlement to the incorne rec￿pt is probable the incorne can be rneasured reliably. MembefsI¥p Memberships are received a5 rnonthfy subscription5. an annual paymenL or a one-off life membership payment. Subscriptions are treated as donatlons and are accounted forwhen received. Investments Income from investment is reca8nised in the period in whith It i% eamed. not in the period 11 Is re¢eTr¥ed. tlonated assets Income in the form of non-cash assets has been included in ihe Consolida￿ ststement of f￿an￿al au4vilies ai a ￿3$Onable estbmate which the Trust would have been willing to pay on an open market. Grarnts Grants for woodland management are uedited to the consolidated statement of finanoal activities in the year in whith they are re￿1ved, in line ¥￿th the requirements of SORP 2019, and deferred onlywhen the grant body has imposetl ¢ondilions whith preveni recognillon of the income. Legacie5 LeEacy income from eath bequest is recognised On￿ a reasonable estimate of Its value can be made nd providin8 there Is no ewdence of any ￿eniTicant contentious daims ioncerning ihe deceased's estate. Where the Trust is left part of ihe residue of an eS￿le- Ihe deceased's will. initial statements of assets and liabilities. and draft tsiate accounts are used to calculate the estimated value of thè bequest. This estimate is onty recognised 35 income once the executor5 ha¥e proved the will li.e. obtained probate). 8equests of land for conservaiion purposes are r￿08rI1$ed as Income and as an asset. Raffles and lottery Where ralfle5 arè run by the Woodland Trust ar￿ the Trust ￿ printipal. the proceeds are reported 8ross of any priie monies and other expenditure. Lottery incorne is from lotteries rn3n3ged by People's Postcode Loitery IPPLI. Woodland Trust Enterprises Limiie(I has no ability to alter the price ofiickets. determine the prizes or reduce the management fee. PPL is the actine principal for these draws. Net pro￿¢￿$ received are recognised within loitery intomè in ihe Statement ol Financial Atlwilies. In Janvary 2021. the direct beneficiary relats"onship with PPL ended. Players of People's Posttode Lottery continue lhe1rval￿d 5UPPOrt of thE Tru51 through award5 rnade by Postcode Green Trust. The contrlbution of Volunteers In accordance with SORP 2019. no amounts have been included in ihe5e financial 5t?ternents lo reflert the ¥alue of services prowded free of char8e to the Trust by Volunteers. For further informatKJn, see note 6 Ipage 811. Cart40n donatlons We actively solicil and ieteive donations to help the Tivst plant trees and proteci woodland across the UK, capturir and lockin8 up carbon and offerir cornpanies and tndividuals the thance to mitlgaie their C02 emissions. Condilions attached to these donatrons relate to the need to ensure that the woodlands remain in being for periods of up to ItX] year5. herKe requiring theTrust to incur annual runnin8 Costs fof maintenance of these siies.

FIPWICi41 WEW IIOTESTOTrIE ACC0111475 FOR THEYEAR ENDED 31 N14Y2025 ICONTINVEDI 8. Empeftditure Expenditure is reco8nistd once ihere is a le8al or constructtve obli8ation to make payment to 3 third party for goods Of seNices. where it Is prOba￿e that 5ettlernent will be required, and the amouni of the obligation can be measured reliabty. Expenditure is classified under the followlng headings: Cost of ralslnKfunds These are costs incurred in genttating ihe intLNnè anatysed In note 2 Ipage 751 to the accounts. These costs are analysed in notes 4 and S Ipage 78-801 to theaccounts and include membership costs. fundraisin8 costs and investment managernenl costs. Charftaljle actlvltles Expenditure is allocated as follows= Protection of natNe woodland- dirert expenditure indvdes woodland rnanagement, researth and lobbyingto improve the degfee ot proteuion for a￿lent woods and anclent trees. Restoration of woodland- direct expenditure indudes the restoration of all damaged ancieni woodland and ihe rtrueation of nati￿ wooded landscapes. Creation of native woodland-direct expenditure indude5 the cost of planting Iree5. maintaFnin8 woodland. finanoal sUPPOrt and the suppty of trees to other landowners. Note 6 Ipage 811 to the accounts indudes an anaty5is of stsff r￿MberS au0s5 tharitable activities, fundraisln8 adivities, eovemance and support The cost of those staff dirertty focused on the T¥usVs tharitsble artNilie5 has been allocated across the three aims listed above in the same rai￿ as the expenditure on each strateelc aim prlof to thelr allotat￿. Support costs These intlude the prowsion of offices. staff re￿￿tment and ￿￿elopment. Informatlon tethnology, governante and our finance function. Support tosts are all¢Kated to costs of ralsing funds and charltable activlties on the basis of the direct expenditure inojrred by Èath attibryty. IL Depredat5on Depreciation is not w0￿ded on freelhjld and kng4e35ehold woods and land, which are considered to have a useful life of more than Soyèars. Leasehold wtrf)ds and land with a lease term of SO years or less remainirq are dwrfialed over the period of the lease. Fixed assets with a tost of mofe than £l.c#xI are capitalised and depretiated. Depreciation has been charged at.. 2% per annum for buibJin85.. 20% per annurn for offKe equipment.. and 25% per annurn for computers, plant and machinery, and motorvehicles. DePr￿lation is char8ed only when assets are brou6ht Into operat￿TraI use. AJI depreciation Is thareed USI￿ the straight-line methodo108Y. l. Woods and land Woods and land tk)nattd io iheTivst for oneolng use in carrytng out its actNities are iecoenised as tangible fixed assets, with the Correspondi￿ gain retognised as income from donations within the tonsolidated statement of finantial acimties. Each sile is valued in line with open-market lan(1 values ai the lime of transfer to the Trusi. Any *èl ￿ kwofessional fees incurred in acquiring the assei are capltalised. The value of donated land is disclosed in note 8 IpaBe 821 to the accounts. All woods and land pur¢hased have been capitalised ai co￿. From time to tirne. the Tnjst I￿1Ves￿onations to a￿uIre woodland with the specifK condition thai the land Is leased onwards to a named third-P3rty organisatlDn. Pro￿ded the outcome is In ali8nment wlth Ihe Trusys objectNes. Ihe Trust reco8nises the donation In year in which it has been recel¥ed and the purchase of the assèt when there is a bindirvd legal obligation. Once the lease has been completed. the Trust records agrartt within expenditufe to refiect the transfer of ihe woodlaThJ orb a long lease. The

HNAtICL4L REVIEW IM)TES10ThÉ Accoulirs FOA THÉ YEAR E14C031 MAY2025 IC(wnNUEDI woodland 15 valued within the Try5Vs assets at the Value of the freehold interest retained (typically a ncrfnlnal amount). l. Inveslments Investments in the sUb￿dIary undertaking# arÈ ststed at cost. le55 prO￿510n for impairmènt. All other investments are stated at fair value li.e. market value) at the year end. The movement in valuation of investment$ 15 shown in the consolidated statement of financial aaiviiies and comprises both realised and unrealised gains and losses. k. Land for plantln8 and resale Land for planting and resale 15 held at the cost of acquiring the land. induding any a550aaied legal and prolesslonal fees. l. Stocks Sl¢xk5 are 51ated at the lower of cost and net realiSab￿ value. whefe cosi comprises purchase pri￿. . Crltkal accouniiNdiud8em•nts and key sources ol •stlm•llon uncertalnty In the application of the charl￿5 accountin8 policies, trustees are requlred w make judgements. estimate5 and assumptions a￿ul the carrying values of assets aThl liabrlities thai are not readily apparent frorn other sources. The estirnates and undertying assumptions are based on historital experience and other factors that are considered rele¥anL Actual results m4y fliffer from these estimates. The e5timate5 and undertytng a55umpiions are rewewed oft an on8oln8 basls. Revisions w accountit estimates are recognised in the period to whith they relate. The key sources of estimation uncertainty that ha¥e z si8rNficznt effect on the amounts retognised in the financial statements are.. recognition of residuary legacy income where there is 5i8nificant uncertainty over the valuation of specific as5et5 or liabilities within the esiate and. therefore. the measurement criteria required by SORP 2019 is not mèt the annual depreciation and amortisation tharge foi assets art sensilive to thanges in the estimaied useful economic li¥es and residual values of the a55ets. The useful econornic live5 and residual values are r&assessed annualty donated woods are valued uslng the a¥era8e cost price of all wood5 purchased by the Trust in the UK in the lasi three years. Distinciion is made for land purchased ihat would impair the valuation of future purcha5e5. but no distinction is made forgeogfaphic afea Of nature of ihe site as Tiusi commlers this ro have no material impart on the valuation. n. Hnandal Instruments The Trust has finanoal assets ar1 liabllities of a kind that qualify as basic financial in5trumÈnt5. Basic rinanual instrumen15 are initially recogni5Ed at transaction value. financial assets hekl comprise cash at ank and in hand, tO8ether with trade and other debtors. Financval liabilities held comprise ifade and other creditors. Other derivative-based assets indu(Jed in the investment portfolio are held at their fair value. o. Operatity lèas Operating lease renta15 are charged to the con501id31ed statement of financial attivities on a sirai8ht- line ba&s over the life of the lease and io ihe acuvity to which the lease char8e relates.

H14ANOAL PEVIEW NQTES TOIHEACCOLINTS FOR THEYEIAENDEO 31 Z025ICONTINLIEDTr Penslons Trust has defined contribution pension sthemes. The cost of providing pensions is charged to the tonsolidated stalement of finanoal atti¥itie5 usire the al*ation ft￿thOd ser oui in note & in the peflod in which contributions are made. q. coffi￿11 transartions Where the Trust has feceived funds under condubt funding arra￿mentS. they are not shuwn as income the statement of financial artiv￿les. The asset Tectived Ifor example. cash} aThl the obligation Iliabilityl to pay this 1)ver to the Ihird party is also not shown in the b?￿nce 5hÈel. 11 is separatety identified in the note5 to the attounts, eXpL￿nIng the nature ofthe trznsartitsn and the relationship wilh the donor and ultimate reciFMenL f. Related-partytrafisartlons Please refer to note 18 Ipa8e 891 for details of transartlDn5 between the Woodland Trust and Its 5ub5idiaries. Trustees made comknned donations of £lk12023124= Elkl. There were no other related party transactions during theyear to 31 May 2025.

FIWINCIAL REWEW IIOTESTOTHEACCOUNfs FOR THE YEAR ENDEO 31 Nthy 2025 (Co￿￿VE0) 2. INCOME 2024125 fjenernl funds Aestricted funds Endowment funds £'ooo Total 2024125 £'ooo 24.105 13.563 8.869 Category Analysls Legacie5 Mmbe15hip subscriptions Fundraising and appÈals Company donations. charitable trusts and landfi lax Donaied woodland and land ! Total: donat11￿ legades Sponsorship income Lotter￿$ Raffle5 Merchandise income 21.650 13.563 5.069 2.455 Donatlo￿ and le8acles 6.150 10.770 16,920 iio 545 655 46￿42 17.570 64,112 1.865 L865 Othèr iradlng actfvltles 160 160 1,328 16 1,344 Total: other tradlng irtivltles Grants 3.353 16 3369 2.475 13,871 16.346 Ch•rltsble actlvllles Woodland rnana8ement income Total: tharftsble artivilies 3.270 3,270 5,745 | 304 I3￿71 | 19,616 1 304 Other ncomè Other and inve5¢menl Investmeni income 1,613 113 252 1.978 Total: other and In￿Stment Income | Total income 1,917 252 2,282 | Tot31 Income Legacy notlfications In addition io the le8acy income recorded above. the Trust had been advised of a number of legacie5 bequeathed to it where the conditiot)s regarding trKome retognition were not fulfilled by the period end. The cornbined estirnated value tsl these le8acies. where it 15 Possible to estifflate Iheirvalue. was at least £8.8 million12023124.. £9.1 million). 57.557 | 31.570 | 252 | 89.379 |

FIPV4PKIAL REVIEW NOTESTO TMEAC(OUW15 FOR THEYEAR ENDED 31 WIY202S ICONTINUED Income 2023124 Total 2013124 c*e80ry Analys nds £.(￿0 23.781 13.479 funds fund5 Le8acies membe￿19 wb5criptions Fundraising and appea Company donations. tharitab￿ trusts and landfill tax Donated woodlanil land I ." Total: donatlons and ies I Sponsorship income l Lotteries Raflles i Merchandise income ,' Total.. •ihertradln8 2.083 25.864 13.479 9.443 3.095 Don￿10￿5 and le8aEles 3.983 11.889 235 235 47591 13319 60,910 1 2.168 2,168 Other tradln8 a¢tlvltles 478 1.330 16 1.346 1 1976 16 3.992 Grants I Woodland mana8ement . income .' Total: tharltable actl¥ltles Other intome Investment intome ' Total: other •nd Invest￿ '. .. Inron .' Total Income 1.443 12.920 14.363 Charltable xthltles 2.839 2.839 4,282 | 247 12.920 5 17.2021 247 Other and Investment 1.459 138 257 1381 2571 2,101 | T￿al Income 57.555 257 84.205 |

FINAtIClAI RÉVIEW PIOTE5 TO THEACCOU1175 FOR ThEIWEIIDED 31 MAY2025 ICONTINUEOI 3. GRANTS Grznt bodles 2024125 £'ooo 4.305 2023124 £'ooo 3.796 3.100 1.673 695 Defra Postcode Green Trust. Local auihorities National Lottery Herlta8e Fvrtd Northern Ireland EnvirrM)ment Aeency Scottish Go¥ernrnent Rural Paymenis and Inspertions Directorate Rural payrnent agencies Forestry Cornmission Natural England Naturescot Fidèlity UK Foundation Department of A8ficulture and Rufal Oeveloprnent Department of Agriculture. Environment and Rural Affaits INI) Point and Sandwick Trust Rufal Payments Wales (Taliodou Gwledig Cymrtil National Forest Companv Scottish Fores¢ry Ftyin8 Futures CEC The Pear5 #iwill Fund The National Trust ORW Foundation The James Hutton Institute The Linbury Trust University of Stirling l Natural En￿ronrnent Research Cwncil INERC) Soll Association Kent Downs National Landscape Unit Natuial Resources Wales Icyloeth Noturiolcymwl Other 8rant provtders Chilterns National Landscape The Rivers Trust Nigel and Meryl Carr Amazon's Right Now Climate Fund Xusuma Trust UK Rothschild Foundaiion National Mu5eurns Nl Catch 22 Loch Lomond & The Trossaths National Park Authority FCC Comrnunitie5 Foundat40n Tvial 1,824 1.599 1.309 97S 750 717 562 225 200 186 175 iio 96 56 55 52 50 33 30 21 20 14 13 12 12 io io 581 623 485 643 305 613 86 35 41 75 50 17 20 30 85 893 78 50 30 101 95 1851 125 16J45 14363 Of thosÈ listed above. £14.109k12023124.. £12.920kl are iestsicted grants. Grant income is project activity-based and the level of incorne reco8nised relates to the activity taking place durlThd the perlod. or condilions set out by the donor. AwardinB funds raised by players of People's Postcod• ￿ttery. ** Durin8 a review of contract terms in 2023124. monies received from Amazon's Aight Now aimaie Fund were redassified from company donathjns to grants. Overall ificomè was not affetted.

FWAIKLAi REVIEW 1rn107HEXCOUNTS FOR THEYEAA ENDED31 1025 IC014TINUEOI 4. EXPENDITURE 2024125 Expendrtu Analys Dlrert Support Total £'ooo 6.70Z 1.374 1047 127 9.250 | 945 576 20 174 1951 1,695 | Membership Fundraising and appeals Company donations. tharitatAe trusts a￿1 landfill tax Legacies | Total.. donatlons and le¢ades Sponsorship Merchandise Loiteries 5.928 1.215 926 774 159 Cost of ralslnifunds: donatlons and l8ades 121 112 8.1811 836 510 154 1.5001 15 1.069 | 109 Cost of raisine fund5: other trad5n4 artivities l Total.. other tradln8 •¢t￿ltIeS Cl￿t of ralsln¢lunds: Investment managemtnt Cwt of raisin¢ fund5: total IS6 156 Total: wst ol ralslrylunds 9￿7 ii.ioi Protett woodland l Resiore woodland [ Create woodland | Total.. Charitable acuvldts 13.404 16.303 24.443 54.1501 63.987 1.763 1148 3.194 7.105 15.167 18.451 27.637 61255 Chitsble Xb¥iUes Cost of ralslng hands and tharltable a¢tl¥hles Total expendltufe 8J69 7I356 This statement of expethjitwe exdudes £10.243k12023124: £366kl of woods and land atquired and tapitalised as r note 8 Ipage821.

FINANCIAL RÉVIEW IKITESTOThÉ ACCOUNTS FOR YEAR EP4DED31 MAY 2025 ICONnNUEOI Expenditure 2023124 E¥pendlture Analyys Olrecl £'ofy) 6.169 1,211 Support £'ooo 733 Total E'OOO 6,902 1.35S Membeiship Fundfaisin8 and appea15 Company donations, tharitstsle trusts and fandfill lax 144 Cost of raI￿n8 funds: donatlons and I￿adeS 875 104 979 Legaaes | Totsl: donatlons and legaaes Sponsorship Merchandise Lotteries | Total." other tradi￿ •rti4Tities iio 8.365 | 748 13 123 9.3S9 | 837 Cost of ralslng fur#ls: other tradlng a¢tfvltles 516 61 577 328 39 1891 367 1.781 | Cost of ralsSn8 funds: Investment management C05t of raising funds: total Total.. Imie5tmert majbagernem 149 149 Total: cost of wab55ng fvrtds 1,183 11.289 Protect woodland 1 12.9071 16.493 24.510 53,910 j 64.016 | 1,483 1.980 Charltable artivilies Restore woodland Create w(bodland | Tolal: charftable actlvlties Tooal expendbtufe 18.473 27.425 60,288 ,' 6,378 j 7.561 Cost of raislnE funds and tharitable actlv•tles 71.577 1

FINANCK4LAEVTEW 140TESTOTHEAC(fAJNTS FOR TME ¥fAR ENOED 31 MAY 2QZ5 ICONTINUEDI 5. SUPPORT COSTS 2024125 Depreciatlon and loss on sale5 Support costs ante Management and other Anay$15 Prem15es nance HR Total 'ooo Cost of ralslnelunds Totsl: cost of raisin¥ funds Pfotect woodlarKI Restore woodland Create woodlarrfl Total: thafitable expenditure Total: su ort cos 692 21 1,263 187 iio 81 958 398 29 1,763 227 134 102 1,165 36 2,148 Charitabl• expendlture 341 201 127 1.746 726 3,195 755 H5 310 3￿69 1.608 119 7,106 Support 524 358 4.561 140 8.369 The trusteesldiiettofs of the company. who comprse its Board. did not receive any remuneration during the period. Travelllng and subsistèncè expenses inturred by 1612023124: 141 trvstetslthredors on Ooard bu5ines5 amounted to £24k12023124.- E36kl during t￿. w.riod. Support costs 2023124 Depred1￿ I Govtt- i andlosson l Finante nanc sales l andlT Support 0Sts Managtmtrt and other Total CO￿ of raisin8 fvnds Total: cost of ra•sin¢ funds Protect woodland Restore woodland Create woodlaftd T•tal: ¢hathable ndiiwe Total: 1 su port costs 145 51 S07 Z72 51 1.183 Icrf> 16 761 353 65 IA83 241 128 105 972 CharStsble expenditurE 450 358 191 129 669 124 2.915 787 1119 3.177 1872 273 6378 Support 932 301 3.764 324 1.744 7,561

FINANCIAL REVIEW )TES TO TNE AtcouKr5FOPTHE YEAR E14DED 31 MAY 202S ICONTINUEDI 6. NET INCOME FOR THE PERIOD BEFORE TRANSFERS. EMPLOYEES AND VOLUNTEERS Included In the statement of finanazl aciiviiies are thost amounts whith req￿￿e separate disc105ure. In£ome disdosure note Analysis 2024125 £'oo 20.927 2.225 2,679 25,831 21123124 E'ooo 19.320 1,940 2,351 23.611 Salars and wa¥es Soaal 5ecvrily c95ts Other pension costs Tot41 NB.. Induded in the above is £25k in linduding ex- grotia paymentsl Depreciation Auditor5, lee5 and expen5es- audit work Auditors, fees and expen5e5-Other seThlce5 Aentals under operatiThd ieases-land and building5 Rentals under operatin8 leases-oiher Irrecoverable value added ta¥ N8.. Iriecoverable VAT is dassified under the Same heading as thè ex enditure or asset to whith it relates. The surplus for the year ts after charging 325 363 51 12 49 13 168 486 1.675 145 798 1.530 Employee5 and volunteer5 2024125 rooo 239 2023124 £'ooo 229 Analysls Charitable actmtles Function Furtd¥aising Governance and support Average nurnber of ernployees N8.. The a¥erage numberofempl>esdyrtffjtteYwwthlated usrythe I￿1.¢&￿t¢￿entIFrCj AIIKxl. ThÈ¥braÉe h￿de￿nt the ¥ear rAIi. Wt relyoh ￿1¥￿tter$tO￿1p awideranee oladiwrit5 Fthiiw ureaTrd mJrymenrofrwrwoods, womotion ofour wNk, reseaith, menrori￿ ￿ admth￿ratTh￿. In a&Ji1￿.￿e￿(i￿1hl1eerS io colect daia theAhtht T¢ee Inventory, •Dd oth elimate tha￿e ¢hrou8hwr PiOiECt. we use lhev0lurtie￿ ptKes51o the cofitsUtitybofour￿1u￿1¢[$. Owfjn8tlperh)6 to 31 May 2025. ￿lurIteersC0niI•bUlerf 197.367 P#)ytsl2023124." 19s.rsi IKvJiS)h as¢tiW Y•￿e￿£1.7M¢2023124.. É1_7rn1. whith 15 not rtfiEcied Ihe ThethIeftse¢ubveo￿￿erfs É186.96512023ni.. £1735311. WKluth¢a Df£2l5Y￿I2023l24."£21.301l. The earnin8501the key manalernert r•sovrtl offtetl ¥e£Y5ThA12023114.. É885.7081 reknt¥ to sebn rdes12023n4'. SEvell iolESI. Em￿O¥te5, cmolumtnts pay. peftsity4 heh carel forthe5talle¥nkn8 Irwtll￿££0￿￿ fortfveor fell rfothe fol￿￿n8￿￿￿s'. 222 107 5681 214 Employee emoluments Arnount £.5 2024125 2023124 i 140.Cth-149.999 130.000-139.999 1120,00(F129.999 110.00(k119,999 "I(M),00(￿lOg.0rj) Bands '. 70.1¥J1>79,999 60,C*J¢H9.999 17 16

nruNCthL REWEW No￿T0 nKACCOUNTS foR TllCY(Art CNDfD JI MAY ICONTIIIVCDI 7. INVESTMENT INCOME . Investmtnt Inrornt Analys 2024125 2023124 £'ooo 446 Interesl income- instant ac 621 Interest income- term dtposils and noti￿ accounts In¥esiment fund incimle 721 696 Income from investments. 631 637 Other interest income" l Tthal Investment inrome lncome from investments reclaSsif￿d In 2024125"Principalty inter& from HMRC ielatln8 to GiftAid and VAT. 75 1.854 | 8..FIXED ASSETS-WOODS AND LAND Flxed assets Donated thort lèasthold Doned frtehold land freelHAd seho leasehol d£lX•) 4.107 Totsl £'ooo 125.238 l At l June 2024 Additi¢)ns IN the period Grant of leases Di5posaFs ih the period Transfers betrween asset cale ories 108.419 1.648 10.071 987 9.675 S58 io 10.243 and disposals 16531 1291 P221 | At 31 May 2015 j At l June 2024 Disposals in the period Charge in the period l At31 May 2025 At 31 May 2025 i At 31 May 2024 | 117,44t I 43 L648 | 6 1 10.588 | 4.078 997 | 134.759 | 636 Depreclalton 13 26 39 56 662 335 | I34￿38 3sI1124.556 721 117.305 108.376 10.588 4.078 31 10.071 | 4.107 | value The atlditions of woods and land durin8 theyear are allocated acr055 our tharitsble aims as below= Str**8i¢ 2024125 2023124 objeaives £'ooo £'ooo Protect 158 210 5.089 li 4,995 145 10.243 Restore Create 366 lft addition. the Trust turrentty las at 31.OS.20251 leases 30 sties11.423 hertaresl3.516 acres) of wotsdland under short leaseholds150 years or less) at'peppercorn. rents. of whith 21 {457 hedare511.129 atresl will bÈ èxpiring within 10 years. In the opinion of the dirertors. the value of thesè assèts is immaiieri?l.

FINA14CIALREVIEW IIOTESTO ThEACCOUIITS FOR THE YEAR ENDÉD31 MA¥ 2015 ICOP4TIP411EDI 9. OTHER FIXED ASSETS Q>rnp￿er equipment Other frxed assets Analysb Plant Jnd machlnery Bulldlr lumlture Total £'ooo 12,183 114 lioi 695 | 12,287 j 525 7.034 59 286 iioi iioi 574 | 7.310 | 4.977 5,149 At l June 2024 6.541 4.234 41 773 634 AddlUon5 and dlsp05als Additions in the period Disposals in ihe period l At 31 May 2025 At l June 2024 71 6.541 | 1.778 131 4.275 | 4.183 29 7751 547 Charge for the per1￿j Di5P95als in the | At 31 May 2025 Al 31 May 1025 At 31 May 2024 67 DepreEiatOon 4,212 | 6141 161 Net book ¥alue 4.632 1 4.763 si 2261 109 10. INVESTMENTS Investments Analys 2024lzs £,￿0 7.81S 2023124 £'ooo Permanent endowments Designated funds Restricted fund5 General funds | Totsl Investments at market ¥a￿e 8,073 Investments at market value 12.482 16.544 19.718 15.358 40.015 | 39,9751 Valuallon Valuation 2024125. XJ23124 £'ooD £,￿0 IbW4Stmenis 2024125 eooo In¥e5tments held with investfflent fflanuger5 fixed incorne 5.307 £quilies 15,091 Altemaiives 2.6061 2.446 quid assets 1,252 567 24.256 | 23￿50 | 2023124 5.704 5.026 5,382 17,693 2,198 567 25.8401 2,366 1,2S2 25.678 | Investments consist of Investments held bon Term deposiis and notice accounts T14,337 ., 14,135 l Total investrnents 38.593 1 37.985 | 14,337 14,135 40.0151 39.975 2024115 2023124 £'ooo £'IK)o 39,97S 38.739 9.966 11,594 19.9741 112.1491.. 209 692 11611 1,099 -40.0￿ | ' "39,975 I- 38.593 37,985 1,422 1.990 40.015 j $9.975 | 211 11.2261 Investments Analysis Market value at l June kqui54tions Sales proceeds Net liquidity fund movement Nei tnvesiment Bains I Ilossesl 'Market value al 31 May- Cost at 31 May Unrealised investment eains I Ilossesl at 31 May Market value ai 31 May Realised investment gains / Iloss*51 in the year The movement on valuation of investments- IS a5 follows Comprising

FIIIANCIAI REVIEW I￿TEsT0 THEACCOiWITSFOR ThE YEAA ÉNOE031 ￿Y1015 ICONfiNUEOI The Woodland TNst owns thè entire Issued share capital1100 ordinary shafes of El'eathl in iwo subsldiary companles: Mloodland Trust IEnterprisesl knmited. Icompany number 022966451 and w¢￿)dIan￿ Trust F3rming Limlted, Icornpany number 063607911. both of which are incorporated in England. Details of the tiadin8 artivitles of these subsidiaries are set out in I￿te 18 Ipage 891. 11. LAND FOR RESALE Group I Ch•rlty 2023124 1 2024125 12023124 ro land avallable for resale 2024125 Value of land purchased for resale Value of lènd donated for resale | Total land for resale 542 542 542 542 80 622 | 542 | 5421 Land available fry re53le represents woodland purchased for pknting and onward 5a* in due course under the Trust'5'purchase. plant. arid pas5 on. and'purchase, rest¢ye. and pass on. scheme5. The xhemes are intended to create new woodland at fflinimal nei cost to the Woodland Trust aftd provide an opportunity for new owners to get involved in woTrJland rnanaeement. During period. £Nil12023124 £Nill of was sold. OTr occasion, theTfu5t receives donations of land T•thich do not align with our charitable purposes. This land Is sold on at fair value. Includi￿ appropfiate c¢)venants, and the proceeds reinvested. Durin8 the perigd. £80k 12023124 ÉNdl of land was donated. 12. STOCKS Grnup 2024125 Charfty 2024125 £'ooo Charity 2023124 £'ooo Stocks 2023124 Livestock and stNes 397 1571 554 | 266 266 Raw materials aThl consumat4es l Totsl 51o¢ks 183 4491 3971 266 | 13. DEBTORS Group 2023124 Charity 2024125 £'ooo tharlty 2(123124 Debtsrs 2024125 LeRacies reteivatAe Grants receivablè Trade debtors Amounts owed from subsidoaries Other debtors Prepayments and accrued Income | Total debtors 17.262 8.191 1706 18,6441 18.644 3.660 346 8,170 2.239 1,016 1.639 S.217 35.545 j 415 430 1.650 2.109 6.861 31.715 2.115 6.646 31WI 35Jos1

FIIIANCIAL REVIEW NOTESTO THEACCOUNTS FOR THE YEAR ENDED 31 K4Y2DZ5ICONTINUEDI 14. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR Group 2024125 Group 2023124 rooo 3.812 Charlty 2024125 £.￿0 3.067 741 Charity 2023124 ¢000 3,782 edltors Trade creditors Taxatton and social security Accruals and deferred rncome l Total <reditors 741 5.601 | 9h36 | 6.223 10.6791 5.471 9.279 | 6.044 1 10.469 15. LONG-TERM DEBTORS Group Z024115 rooo Grovp 20Z3Iz4 Charlty 20241 Charitv Z023124 £'ooo Debtors Amounts falling due after one year l Total long-temi debtors 16. MOvEmE￿roF FUNDS Gain51 incorne Balance at 31 May 2025 Vnrestrlrted fvnd$ 2024125 une 2024 expendlture Transfers £'oou Fret re5eryes 38A53 55.556 146.5201 15.7201 41.769 Fixed assets 12861 113 4.977 Designated fund 6.780 14224 l Total unresttlcted funds 50.383 | S7￿56 | 60.970 | The purw)5e and structure of the Trust's unrestricted funds are described in the finanaal review on pages 56- 63. The free reserves represent unrestricted reserve5 that ace freely available to spend on charitable purposes. 5.444 1163) | 146.8061 | Balance at l Jufte 2023 Galns I in¢ome Losse51 pendlture Balance at 31 May 2024 £'ooo 38.453 5.150 6,780 50.383 | Unfestrkted filnds Z023114 Transfer Free reseThes 34599 5.418 170 40,187 | 57.910 j 55.85S 55 147.1451 13231 14.8561 Fixed assets Oesi8nated fund Toial unre5tr1rted funds 4,610 124611 147.4681 | 8alarKe at l June 20Z4 Galns I In¢ome Losses I e¥pendlture Balance at 31 May ZOZ5 £'ooo Restrlcted funds 20Z4125 Transfers Woods and land assets 124.558 11.2481 3,274 134.038 Future acquisilions 2.132 11.7251 407 Woodland management fund .14301. 11.1951 2,198 Restricted legaues 6.667 2,514 16461 7.340 Various other funds l Total restricted lunds 11.192 21.54B 147.1971 31.5701 122,7271 I25M￿l | 13651 5641 9,748 153,731 |

FIIIAKIALAEVIEW NOTESTQTHEAcC￿￿￿IS FOA THE ITAR ENOEO 31 2025 Icot4nNUEDI The woods and land fund compr4ses the capital costs of the woods purthased and the value of donated woods and lar￿. Where an acquisilion of woods ond lartd has takèn place. a vansfer may be made from westiicted le8acles or from other fund5. Fixed assets are analysed in notes 8 and 9 Ipa8e$ 82-831. The woodland management fund consists of unspent income associated with specific sites. Restiicted le8acies represeni ihose where the testator has TestrKted use for spedfic pur￿Se$ or In specif localions. The Trust actively seeks opportunitiesto spend these for woodland conservation. but because of the nature of the restriction5 impose(I by ohe testator. itcan srynetime5 take an appredable period of time before qualifyin8 spend can be identifjed. The fund for future acquisitions Is a result of donations received durinB the current period io acquire woods and land alreacty planned lor aCquisi￿On$ in the following penod. Various other restrtcted funds indude many in1th￿dUal yants and donations for specific purposès. which will be applied to future costs. The landfill tax in 2024125 amounted to £652k12023124.' £NIII of which £643k wa5 Èxpended. lèavin8 a £9k balance at 31 May 202512023124.. £Nill. lan￿ at l June 2023 Galnsl Intome Balante at 31 May 2024 £'ooo 124,$58 2,132 Restritttd fund$ 2023124 expendltuve Transfers £'ooo 18561 998 Woods and land assets 124.171 1.134 1955 S￿2 9.469 M4.0221 1,274 1321 Future acquisititsns Wogdland fflènagement fund Restricted legacies Various other funtls l Total restrkted fund5 241 16701 11.06SI 122.0261 (23.79311 22 2.31 22,898 26.7231 14701 551 245 | 6.667 11,2921 147.1971 Balano at l June 2024 Galns I Income iwesl Balance at 31 May 202S £'ooD Pemianent end¢)￿leDts 2024125 Trwthr Glenrothes 3?50 3.024 240 1391 11271 12611 1891 1271 1241 14011 | livingston W3riin8ton and Runcom Preston and Chorlev 799 | T￿al pemaneni endowmeb)ts 8.0731 The permanent endowments represent fvnds given to the Trust with gifts of woods and land in the locattons noted above, under tefms requiring the funds to be in¥e5ted permanenlty to providc Income for the future mana8ement of these woods and land. The transfer5 are explalned below. 27 862 24 i I 1341 12381 | 765 7151 Balan￿ at I hne 2023 £'ooo Galnsl Balante at 31 May 2024 Pernianent endowmffits 2023124 xpendlture Transfers Glenrothe5 435 11451 11091 1331 1291 13161 j 3.3SO 3.024 Livingston Warrlngton and Runcorn j Preston and Chorlev l Total perrn3neDt endowments 2.981 152 45 391 671 799 8J173 | 7,7171

FIWANCIAL REVI IIOTES TO TNEACCOUIITS FOftTHE YEAR E140EO 31 NWY20251(ONTINUEO Analysis of transfers between funds UThrestr4rte¥ fvrtds •ndlSKed os5ets 2024125 Perm•hen¢ endow -mehts hnd •hd lafyl Lryailes Other IL1761-' 32?dJ ILnsi 272 15 14011 Totsl trsle oert .6m,' SA44 13651 | Notes il An amount of Eli,725lk h05 been tr￿$felre(l fr¢)rn future acquisitio￿ to acquire sites that match our charitable objectives. l RcleaJC of fundJ in rclotion to activities undertaken. 31 Transfer to'designated. frorn'general funds. and redassification ol'other restrtaed.. Virestri¢ledfU￿S nd flxed 2023124 Oe Pewrn•vent endow Wwd5 and knhd Restrfcted iyrles REStrkiEd Ot￿r £Tho Woodlandand lan inccrfne for lutu awulsltlon4 disposals, cuffEnl Vear lunthn8 ¢Jeficir5 and re- allo¢aiion 01¢05 REIEaSeof funds 1856) 14701 470 Translers fiom Éener¥l fu￿1 T•tal translws befv4een funds IS.0231 4J19 81 I4￿$61 4,610 561 551 Note5 11 An arnount of £998k ha5 been tran5ferrÉd Into future acquisitions to Kquire slte5 thal matth our tharitable objectives. 21 Release olfunds in relation to actr¥itie5 undertaken. 31 Transfer to'desi8nated' from'8eneral funds, and redassificaiion of 'oiher'.

F114ANCi4L REVIEW IICITfS TQTAEKCOUNT5FOR THEYEAA ENDEO 31 WIY2025 ICOIITINUEDI 17. ANALYSIS OF GROUP NET ASSETS BETWEEN FUNDS This note detai15 the group position. which is the same as the (harity position. The trustees consider that the resources available tg the charity are suitable and adequate lo meel the known present Obl￿allOnS of the tharitable company and 8roup. Fund balances at 31 May 2025 are represented by.. Analysts of unrestrlc￿d group nèt assets General fund between funds É'Qf Tangible fixed assets Investments Cash at bank and in hand Other cuffent assets Llabilities due within one year Lon8.terrn debtors l Total nèt assets 143241 153.731 | ?￿15 | 222.516 | Rèstrided tsnglble fixed assets consist of wood5 and land valued ai E134.684k12023124.. £124.555kl. Endow 4nents Total fibnds 31 May 2025 £'ooo Total funds JI May 2024 £'ooo De*nated fvf fvnd 4.977 134.038 139.015 129.704 19.718 12.482 7.815 40.015 39.975 1.810 14.224 407 16.441 13.947 27,094 9.387 36.481 32,706 16,8531 {2,5831 19.4361 110,6791 46.746 205.653 Fund balan￿ at 31 May 2024 are represented bv.. Tolal funds 31 Aq¥y 2024 £'ooo Analysts of eroup net assets between funds UnrestrFct General fvnd Oesl8nated fund fvnd Endowm•Trts £'ooo Tangible fixed assets Investments 5,149 15.358 6.606 25.008 18.5181 124.555 16.$44 561 7,698 {2,1611 129.704 39.975 13.947 32.706 110.6791 8.073 Cash at bank and in hand Othw current assets Liabilbties due withln one year i Long-term debtors | Total net a55e15 6.780 43.6oJ I 6.7801 147.197 8.0731 lo5￿531

FINA14CIAL REVIEW NOTE5 TO THEACCOUNTS FOR THE YEAA ENDED 31 N44Y 2025 IcormNUEDI 18. NET INCOME FROM TRADING AcnviTIES OF SUBSIDIARIES The Woodland Trutht harth two wholly owned irading subsidiarie5 which 3re incorporated in Englènd. Woodlond frust Forming Limsted IWTFLI Irègi5tÈred company no. 63607911 undertakes larMin8 on some Woodland Trust sites prior to woodland bcbng created. Woodlond Trust(EnterprisesJ limited [￿ELl Iregisiefed company I￿. 22%6451 was tobli.hcd io undcrtake sponsorJNpth. commcroJl )ciiwiip5. raffles and mèrchandise sales. Within ihe cost of sales nd administration expenses is f978k12023124= £993kl paid to the Woodland Trust. Both companies donate their taxablc profitth to thc Woodland Tru:t undcr i deed of covenJnt. Wood13nd Trust Farming Limited made a 1955 Of £llk in 2024125. A surnmary of their trading accounts is showA below. and this irKludes payments of £1.039k 12023124.. £1.364kl made to the Woodland Trust. Audited accounis have been filed with the Registrar of Cofflpanies. All subsldiaries have the same registered address as the Woodland Trust. Net income from 2024125 IradlnB artl¥ltles of 5ubsldlarles 2023124 1 202412S wrFL £'ooo 276 2023124 wrFL £'ooo 375 Analys15 £'iXID 3,601 12.0081 1.593 | 12SOI Turnover 4,114 12,21311 1.901 j 125111 Cost of sales | Gross profft I Ilussl Licence payment io the Woodlènd Trust 12851 Distribution costs Administration expenses Other operating income | Operatiwtg profit 111055) I Interest receivable l Net profit / Ilossl Paymènt und* Gtlt Aid to the Woodland Trust Accumulated reser¥es brought forward | A￿UM￿lated r￿r¥e$ carrled fornard Net current assets 13601 141 Profit and loss a￿oUnt i.(Mo | io I 1.050 lisil 56 | 14 1.303 | 61 11,0501 11,3031 1611 1.115 {i.iisi S66 79 Net turrent liabilitie5 15661 1471 Balance sheet Net assèts C•pital and reser¥es Iiii 19. OPERATING LEASE COMMITMENTS At 31 May. the Woodland TnJst-both the£r0￿ and tho ch3rity-is committed to making the followine pèyrnents in respert of operating lÈases'. Operatlne lèase £ommiimeiits Analysls 1024125 £'ooo 116 Z023124 £.000 1541 Leases which expire withln one year Leases which expire within two to fve years Leases which expire after five years l Total j Leases which èxpire within one year Leases whith expire within two to five year5 l Total 116 Land and bulldlnBs 1.936 | 2.3181 6061 577 | 1.183 1 2.￿0 851 Olher 1,209

FINANCIAL REVIEW tIOTESTOTHE ACCOUMTS FOR TMEYEAR EPIDED3J 1015 ICQNTINUfDI 20. CAPITAL COMMITMENTS Commitments for expenditure not provoded for in these ￿￿nts in respect of asstts under constrnrtion amount to £Nil12023/24.. £NTrll. ZI. PENSION SCHEMES The Woodland Trust operates defikw contribution sthemes for all quali1￿￿8 employees. The assets ol the schemes are held in separate funds admlnistered by independent pension prO￿derS. The toral cost of pensions for the year inturred by the Woodland Trust was £2,679k12023124.. £2.351k). Induded in other creditors is £NI12023124.- ENill in respect of pension schemes. 22. CONTINGENT UABILMES The irjjsteeswere not aware of any si8nificant contTrn8ent liabilities at 31 May 2025 and 31 May 2024. The Woodland Trust has given indemnities to executors of wills under the standard terms for legacies reteived. The trustees believe the rtsk of significant claims arising as a resu￿ of ihese indèmnitiès to be negligible. 23. CONDUIT ACCOUNTING During the period, Ihe Trust administered fvnd5 on behalf of other entitie5 as Ihwr agent. As an wt. the Trust 15 bound by an agency agreement and distributes the fund5 It holds a5 agent to speafied third parties according to the instrudion$ given by the princip31151. The Tvust has ensured that the terms of the agènty agreement ond the use of Ihè funds ar consistent with its own purposes. The first suth agrèemenl is with the Community ForeslTrust. vthith has parinered with the Woodland Trust Since .2018 to lrnplement the inltial DefrafwocJland Trust grant agreement. This partnershbp aiffl5 to create the Northem Forest through a collaborat￿n agreement between ihe Woodland Trust and the Comrnunity Foresi Trust. During the vear. the Cornrnunity Forest Trust planted 60.45 hectares12023124.. 82.51 and 4.121 standard trees IZ023124-. 4.478 usina Defra funding a5 part of thi5 latest collaborat￿n agreement. The second suth agreement is with Shropshire County Councd. whith has worked in partnership with the Woodland Trust since 2023 to deli¥er the shro￿h1re Hi115 AONB Woodland Restoration Projert through the Woods into Management Forestry Innovation Fund. adminisiered by the Forestry Commission. During the year, the 5hropshlre County Council grant covered a member of staff ￿M￿0ved for the project and ha5 a ÉNil closing balance. Condult act￿￿1} 2024125 £'ooo 2023124 rooo Opening balance as at l Junè Account5 Teceived in the year Amounts paid to third parties | Closlng balance as at 31 M3y 6.746 18,7291 2.S39 15641 1.983

FIIIANCIAL REVIEW NOTES TOTtr¢E KCOUWT5 FOR THE YEAR ENDED 31 MAY2025 ICONT114UEDI 24. PRIOR YEAR CONSOLIDATED STATEMENT OF FINANCIAL ACTIVITIES T•tsi 2013114 tknatraTrs ties 4S591 11319 60.910 3,976 16 3.992 L459 25? charta￿e xti••t 4.282 1i9ZO 17202 Olher in¢(xTr)e 247 247 endowments SS555 2&393 2S7 84.205 Protttt wofyjland 1{6861 IS.6501 114,awi 179) 11&4731 CTeate W￿114 11&8421 110.4591 12?.42S1 l¥•ndltvre Total charIta￿t {2S7) 160.1991 (osi of ra￿1￿ lund5 110.8381 1591 IIL2891 TDl•l empendltsre Pletlncoffle I ItMpendlbJ¥el befg In¥estmentllrsswII ¢¥n5 t4et Ikis5e5118ains (3161 171,$771 (591 IL628 ItyeDdlturel Jo 355 330 414 1.099 lexpendlturel Ttanslers betweeo IWKIS 1442 11727 16 14IA561 4,610 24S Net M0￿Mntskn funds 516 610 1,175 1727 Funds 40￿1? 170 144.022 7.717 191.916 b4•ncesc#rrled tOn￿￿•t31•￿Y 17 4603 147.197 105.653 Our ¥lslon Is a world where woods and trees thrlve fw people and nalure. but we un't athiLWQ our ¥lslon wlthoul support. There are many Tways you h us make a ￿al differèno. indudiry mernbersl of the Tryst, Support1￿ our campalgns fffj appeal¥ ¥olunteerln& leavlng a 81ft In you1￿ plawng our raffleand buylfvg from

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