2020-12-31-accounts

THE .éiASPINALL FOUNDATION Charity No. 326667 Annual report and financial statements For the year ended 31 December 2020

The Aspinall Foundation Report and flnancial statements For the year ended 31 December 2020 Contents Page Reference and administrative information Trustees, annual report Independent auditors. report 25 Statement of Financial Activities 29 Balance Sheet 30 Statement of cash flows 31 Notes to the financial statements 32

The Aspinall Foundation Reference and admlnlstratlve informatlon For the year ended 31 December 2020 Trustees.. Damian Aspinall (Chairl Robin Birley Charles Filmer Ben Goldsmrth Tansy Aspinall Maarten Petemiann lappointed 29101120201 Charity number.. 326567 Registered office.. Port Lympne Reserve Lympne Nr. Ashford Kent CT 214PD Auditors: Goldwins Limited 75 Maygrove Road West Hampslead London NW6 2EG Bankers Barclays Bank pl¢ 93 Baker Street London W1A 4SD Solicitors John Byrne &Co Sheraton House Castle Park Cambridge CB3 OAX Investment advisors Slater Investment Limited Nicholas House 3 Laurence Pounlney Hill London EC4R OEU Page 1

The Aspinall Foundation Truste8$' Annual Report For the year end9d 31 Decembgr 2020 The Aspinall Foundation I"Foundalion" or"TAF"I was established as a ¢harilable trust by a Trust Deed on 30 March 1984 and regislerd as a charity under number 326567 on 27 April 1984. The Iruslees present their report and financial statements for the year ended 31 December 2020. Introduction Following the creation of Howlells and Port Lympne zoological parks in 1959 and 1975 respectively. The Aspinall Foundation was founded in 1984 as a UK registered charity (under the name of The Howletts and Port Lympne Foundation, and eventually The Aspinall Foundalionl. the vision of which has always been lo contribute lo global species consoNalion through inlegraling ex silu and in silu aclivilies. Our global wildlif8 conservation work, again spanning over thirty years, covers divelse issues including tackling the illegal wildlife trade, the 're-wilding and eventual release of wild-born animals confiscated from the illegal wildlife trade and of caplive-born animals, the reinlroduclion of species lo siles where they have become locally extirpated, the reinforcement of small isolated populations of Ihfealened species. the co-managemenl of protected areas with national governments, the scientific evaluation of wild, reintroduced and Captive wildlife populations, and the recovery of threatened specie5 through community-based conservats'on. Some eXaMp￿S of this long-lerm work, with links lo lurther information, Include.. the virtual liminalion of th al trade in live western orillas in Congo-Brazzaville the Creation and co-managemenl, with the ovemmenlofcon o and th Wildlife Conservation Societ WCS , of a long-temi project focussing on lacklin the ille al wildlife trade in Con o-Brazzaville the reintroduction of western lowland orillas lo the Baléké Plateau region of Central Africa, in Congo- Brazzaville and Gabon. using both wild-born l¢onf15caled ans of th al wildlif trade and caplive-born release stock the co-managemenl with national governments of proteded areas in Con resulting in the recovery of depleted wildlife populations the reinforcement of small isolated ￿, rizzled lan ur and ebon lan ur populations in Java, Indonesia. again using wild-born lconfiscated from the illegal wildlife Iradel and caplive-born animals the transfer of Ca live-born Criticall Endan ered eastern black rhinoceros from UK lo protected reserves in South Africa, which bred and contributed substantially lo a population that was subsequently used to provide rhinos for reinlroduclion to Rwanda and elsewhere the transfer of captive-bL)rn eastern black rhino from UK lo protected reserves in Tanzania, who have subsequently bred and contributed lo a growing rhino population the Iranslocalion of ca live-born Euro Carpalhian Mountains in Romania for successful reintrodUct￿n projects in the 0-8razz ville and Gab an the rewilding of z¢)o-bom South Africa and Zimbabwe Ihern chee h and brown h aena for release into protected reserves in the development of curren inca enelic studies lo assess the in European zoos tential conservation rol of mammal ecies the use of anal 51S to assess the conservation nee Ihiealened species, and of reintroduced ulalions s of wild ulalions of Page 2

The Aspinall Foundation Trustees, Annual Report For the year ended 31 Decembor 2020 the implementation of a communily-based species survival programme for the Crf(ically Endangered reater bamboo lemur in Mada ascar. resulting in the species recovering from only 100 wild individuals lo over a thousand in a decade ofcommunily-basod conservation. and being removed from the list of the 25 most endan ered rimales in the world the im lemenlation of communit -based ro ecls lo conserve other highly threatened lemur species in Madagascar including black-and-while ruffed lemur, indri diademed Sifaka, Crowned sifaka and mon oose lemur 2020 was a particularly challenging year for all our teams in the field for obvious reasons but we are extremely proud of our efforts. We hope that you enjoy reading about them. Page 3

The Aspinall Foundation Trustees, Annual Report For the year ended 31 Decembgr 2020 OVERSEAS CONSERVATION PROJECTS THE THE S'PINALL rfISPINALL ￿SpINALL kiS'PINALL FQ)LIN r)ATION FOUNI)A-I I()N FOUNDATION FOUNDATION CRY OF THE WILD INDONESIA MADAGASCAR GABON GORILLA PROJECT LEMUR CONGO GORILLA PROJECT PROJECT Page 4

The Aspinall Foundation Trustees. Annual R8port For the year ended 31 December 2020 Con In Congo, 2020 has seen subslanlial pfogress in bolh Kebu and Fubu. Having spent over 2 years acclimalizing to their new surroundings. being closely monitored by their dedicated team of rangers, both males have been diredly observed Consuming more and more wild foods, with Fubu learning how lo open up banana plant stems lo enjoy for himself. extremely encouraging behavior and a positive step towards full independence. The dynamics bebNeen the two has remained stable throughout 2020, although Fubu's confidence has grown tremendously and he is spending much more twne indepèndently. Kebu still tends lo spend the majority of his lime in the forest, coming lo the savannah regularly forsupplemenlary feeding. Following on from a brief loss of body condrtion in 2019 both are now of optimum -ia weight and we estimate them to be ready for release in the very near future. Loukelela and Bomassa, the young male orphans currently under our care. have only slrenglhened the bond beiween them during 2020. The two are inseparable and spend their days trekking through the lush forests of Congo with their eare givers, exploring and learning, which fruits. vegetables. plants and grasses lo eat, which areas to cover during which seasons for the best food retums and generalty how to live wildly. Bomassa particularly, has grown in confidence throughout 2020, having spent most of 2019 recovering from his early life trauma. he now depends on Loukelela for emotional support and will actively display his jealously when Loukelela initiates interactions with rangers during their daily trek5. Yambo the 35-yearwold silverback eonlinues to live solitary on his rglir&menl island. Throughout 2020 we have nOtI￿d, as is expected with age, that Yambo has been more prone to nasal infections, as has been onlinuous issue throughout his life due to contracting polio in his much younger years, onty exacerbated by age. He has undergone antibiotic Irealmenl on 3 occasions and this is being very closely monitored moving forward. Kelle, the silverback has spent all of 2020 solitary, displaying spectacularly al passersby and chasing boats along the river's edge al an incredible pa￿. Djeke has also spent the majority of 2020 solitary, with one Page 5

The Aspinall Foundation Trust99s' Annual Report For the year ended 31 December 2020 notable indirect observation, potentially with up lo 2 females, which could be the females he lost lo Kelle during 2018, whether or not he maintains his new found group will be closely followed by the team. Makoua still presides over the largest group in the reserve, numbering over 30 individuals wrth al least 2 births confirmgd with direct obseNalions during the course of the year. One male, Teke, who emigrated from Makoua's group in March of 2017. having been born into the group in 2004. and was also the first wild born gorilla lo released gorillas in the reserve, has been seen on ¢ame¥a trap on 2 occasions throughout 2020 stalking Makoua's group in the hope of acquiring some females from the group. Page 6

The Aspinall Foundation Trustees, Annual Report For the year gnded 31 December 2020 Gabon At the Batéké Plateaux National Park, 2020 was an interesting year. Djongo and Mayombe have continued to progress together as a pair, with numerous more matings sighted by camera trap. Mayombe's confidence grows slowly bul surety, with any form of change from the monitoring staff lo the weather making her neNous. never-the-less She is certainly making small. posltive steps in the right dire¢lion. Djongo manipulates the items of supplementary food provided. always taking the best pickings for himself, however, Mayombe has quickly learnt how lo adapt lo Djongo's behaviour during feeding limes, avoiding any fom) of conflict. L¥ 'rl. Rafa and Mbwambe were spotted as a pair in ear 2020, without Okeli. Both in great condition and ¢onlinuing to cover18rge distances, often crossing paths with the other Gorilla groups within the reserve. although has not yet been successful in acquiring additional females. having lost Okeli back to Boumango's group in late 2019. Page 7

The Aspinall Foundation Trusteo$' Annual Report For the year ended 31 Decgmber 2020 Djala has spent all of 2020 solitary, enjoying lime in the southern side of the reserve Iravelling shorter distances than has been previously recorded bul maintaining fantastic physical condition. Djala is approaching 40 in the next year and still continues to thrive in the wild, an impressive age for a silverback, with previous studies suggesting a silverback's lifespan lo be 35 years. Djala continues lo feed on aframomum and other native foods, which are readily available lo him in the forest. Boumango's group has grown throughout 2020 with the birth of a male noted in May 2020, bringing the group up lo 15 individuals. Boumango remains a relaxed leader of 7 females, with Okeli returning lo the group in late 2019. The Tongas have spent the vast majority of 2020 trailing deep in the forest, with irregular sightings by the team. Despite this, we are confident that the group has grown in size due to indirect camera trap footage. with at least 3 of 8 females carrying small infants. Following on from last year, Belinga, the only female lo still actively approach the river's edge during diiecl observation encounters has now stopped doing this al all. Page 8

The Aspinall Foundation Tru$toe$' Annual Report For the year endgd 31 December 2020 Dja5ta and Ima have almost completely separated from one another throughout the first 3 months of 2020 bul remain in Irernendous condition, with Ima showing more maturity and gaining impressive stie and muscle throughout the year. Djalla has been -￿¥.+ directly observed making remarffable displays at the team although still has some slalure to gain to become a fully grown silverback. Our camera traps have captured a number of other threatened species throughout 2020 including. civets, side striped jackal, forest elephants, leopards, pangolins, mandrills and golden cats. As well as, over the last 4 years 1 male lion and one hyena the remarkable return of these headline-making species is not only an indicator of the suecess of over 25 years of hard work, bul has inspired TAF and its partners lo keep pushing the resloralion of the national park forward lo the next level. Page 9

The Aspinall Foundation Trustees, Annual Report For Iheyearended 31 December 2020 Indonesia In 2020, alongside the team offorestry rangers of wesl and easljava. TAF IP team have rescued orconfiscaled primates from the illegal pet trade in java. All rescued victims have been transferred lo the primate rehabililalion cenlres in wesl and east java lo spend lime rehabililaling and undergoing a series of lesls lo aS￿rtain their h$aSth slalus Pfior to re-release. Summary of ligures.. 2020 -Rehabilitated Primates: Nutnbers of Primcltes Received in 2020 Numbers of Rehabililat Prirnates from 2011 to 2020 $1IYeffy￿bb¢n vjawan *GrfnIedi¢•l￿kn￿ . Numbers of Rehab'lilated fv-imaie In 2020 Sllvory q5bb .Mitèred leal JavaD$lo￿lQ[ls , Gi12zled mmkry. Sl&mnNg .8orneoglbMn I￿rY 41L Javan Avil￿￿d Ipaf mDnkeyryJh¥Ifi4o￿t￿lS Page 10

The Aspinall Foundation Trustees. Annual Report For the year ended 31 December 2020 Our primate reinlrodLtclion plans have had lo be re-scheduled on a number of occasions throughout 2020 due lo the global pandemic, Covid-19. However. in the laller part of 2020 we were finally given specialist permissions lo continue our conseNation work, under additional safely measures, allowing us lo release a total number of 21 primates June- December consisting of 18 Javan langurs, 2 Javan gibbons and 1 grvzzled langur. 2020 -Reintroduced Primates 2020 Primate's Released 2012 to 2020 Primate's Released Silvery gib￿￿ ll Javan langur Grizzled leaf rtK)nkey 21 individuals 180 individuals Behavioural observations of primates in the rehabililalion phase of rewilding during this 12 month period have been mainly posf(ive wlh healthy appetites, normal levels of physical activity and vocall visual interaction with neighbouring primates. Obseryalions of released primates has continued bul to a lesser level during January - July due lo local lockdown reslrictiolls. However. in the laller part of the year this has increased again and despite the break in sightings all released primates appearto bewell and in great condition with 2 births noted. Education and Awareness: The emerging of Covid-19 in early 2020 consequent affected our awareness campaign plans for the year. All school visits and communty campaigns and meetings had lo be rescheduled or in some cases even cancelled. There were a few activities that could still be executed by following a strict Covid-19 protocol, with some events and meetings being replaced by online platforms. The total number of participating audience5 al the awareness activities this year decreased, primarily due to lockdown. Outreach Campaign 2020 a47 1L¥J School ll Unlverslly B Communlty D Government Page 11

The Aspinall Foundation Trustees, Annual Report For the year ended 31 De¢ember 2020 Mada The Aspinall Foundation's communily-based conserval of lemurs and other highly threatened endemic wildlife in Madagascar during 2020 focussed on three main geographical areas. the Maevalanana-Ambal(FBoeny IMABI dry fore515 and wetlands of western central Madagascar, the western, high elevation, part of the Ankeniheny-zahamena rainforest corridor ICAZ Wesll in eastern hlladagascar, and the Andrianlanlely lowland rainforest and other lowland habilal fragments also in eastern Madagascar. A small grant was also obtained to increase our community-based work on isolated greater bamboo lemur groups in the Vohibe and Vohitrambo forest fragments within the Nosivolo New Protected Area. Our eastern projects conserve over haw the total wild population of Critically Endangered greater bamboo lemurs, plus significant populations of black-and-while ruffed lemurs. indri and diademed sifaka, all Critically Endangered, and another eight lemur species that occur in the same forest$. Our western siles proted Critically Endangered mongoose lemurs and crowned sifaka. plus rufous brown lemurs and al least two species of nocturnal lemurs, in addition lo Critically Endangered Madagascar fi'sh eagles and Madagascar big-headed turtles. and other threatened specie8 such as Madagascar flying foxes, Madagascar heron, and various endemic freshwater cichlid fish. Our Andrianlanlely project is of major global conservation importance. Andrianlantely is one of tho few remaining patches of lowland rainforest still in good condition in Madagascar. 11 is the only lowland forest known lo support four of the most Critically Endangered large-bodied lemurs, Indri, Black-and- White Ruffed Lemur. Greater Bamboo Lemur and Diademed Sifaka, which are also listed in the lop 100 most evolulionarily4islincl and globally-endangered mammals by the ZSL EDGE programme. With the support of different partners, including signifi'cant funding from IUCN SOS, we run monitoring and conservation activities in Collaboration with local communit￿S in the area. During 2020 we continued to empkjy two national wimalologists lo coordinate the field aclivf(ies of this project. They supervised 25 local community rangers monitoring 12 siles within which are living over 500 greater bamboo lemurs (plus over 50 infants born in October and November., dats for December not yel available), over 200 black-and.while lemurs, over 500 indri. and approximately 75 diademed sifaka. Seven botanical plots are also monitored for monthly phenok)gy studies. These community patrollers also ensure threats such as hunting and habilal loss are identified quickly and dealt with efficiently. Infractions are reported lo the Ministry responsible for Forest and the Environment. Law enforcement interventions in collaboration with the Regional represenlalive of the hftinisty were supported lo deal with major infradions, resulting in some arrests. We worked with local communities and schools lo continue our long-lerm awareness-raising and education programme. NumeTOUS awareness-raising sessions were organized, including during the World Lemur Day celebrations at tha end of November. Posters and calendar$ were dislribuled, as were school writing books fealurino local lemurs and information on forest conservation laws. We support 8 local community associations Ivolsl based around Andrianlanlely lo implement simplrfied forest management plans developed in previous years. We are currently supporting the running of 8 seedling nurseries within 8 villages where our Page 12

The Aspinall Foundation Trustee$, Annual Report For the year ended 31 December 2020 Vol are based (Lanonana. Mangabe. Amboditavolo, Ambodimanga, Sahamananlsy, Ambodialafana, Vohiposa, Manakanal. Over 15,000 saplings were planted in the community reforestation zones during 2020. From 2020 10 2025 we aim to reloresl 183 ha of degraded land around Andrianlanlely. Projects aiming lo increaselimprove mombers, income {whi¢h is part ol the forest management plan and aiming the reduction to the need lo harvest forest products) like ginger farming and market gardening were supported. Our MAB project, facililaling communily.based conservation of dry forests and wetlands in western central Madagascar, progressed very well during 2020. Indeed 2020 has seen the Culmination of the community- based work undertaken during the four years of the CEPF-funded project lo dale. Towards the end of 2020, six new communily-managemenl agre8menls were finalised, validated, and signed. covering over 30.000 heclaies within the project area. and including over 11,000 ha of dry deciduous forest and over 1,200 ha of river and gallery forest designated for community-based prolecl¢on, almost 4,000 ha of freshwater lakes designated for improved communily-based management, and over 1,800 ha designated for community-based reforestation. This is a remarkable achievement by all involved, especially considering the issues related lo insecurity that have impacted the project since the beginning, in addition to the impacts of the Covid-19 pandemic over the past year. These six new communily-conservalion areas support the long-tem conservation of several gf the most unique and threatened species of vertebrates in the world. Madagascar big-headed turtles. a spectes with the highest EDGE score of any terfeslriaS vertebrate anywhere it) the world, occurs in at least four of the new siles. Madagascar fish eagles. another Critically Endangered species endemic to western Madag8scar, nest al three of the siles and feed in the wetland areas of al least five. Madagascar herons have been reporteij al four of the new siles and Madagascar flying fox roosts are present at three of the siles. The Critically Endangered endemic cichlid fish PaTrlroplus maculatus has been found al four of the siles, and al least two other highly threatened endemic fish species are also protected by the new agreements. Critically Endangered crowned sifakas and mongoose lemurs occur at 811 six of the siles, and Vulnerable rufous brown lemurs al five. One other communily-managed site is also part of the project, created back in 2012, whi¢h also supports the three diurnal lemurs, and a flying fox roost. Between them all. these seven communily-managed siles created since 2012 cover 37,363 hectares, remarkably almost exactly equal lo 1 OOA oflhe lolal area of Kent {which covers 373.600 hectares). The new community-based management agreements will empower bcal people to protect these Page13

The Aspinall Foundation Trustees, Annual Report For the year ended 31 Decemb&r 2020 species and the fore51 and wetland habilals they depend upon. and to improve their management and use of their local natural resources. Page 14

The Aspinall Foundation Trustees, Annual Report For the year ended 31 December 2020 South Africa The Aspinall Foundatlon's newty established team in South Africa is making signif￿an1 progress in establishing the organisation as a conservation leader in the Region, de8pile the impact of Covid 19. W8 have implemented a two-prong approach to our aclivilps which includes rewilding of captive animals and implementing emergency interventions lo rescue wildlife al risk. We achieved another ground-breaking slep in our rewilding interventions by translocating Saba and Nairo, bNo captive born cheetah brothers, from Howlells lo South Africa. The ploject was implemented in phases. The first phase was flying the cheetahs from the United Kingdom lo Cape Town in February 2020, where they were quarantined al Ashia Cheetah Conservation Centre. This enabled them lo acelimalise and be closely monitored by an expert team for approximately three months. The second phase included transporting the cheetahs 500km to Mount Camdeboo Private ¥. Game Reserve, a 19 700 acre reserve In the Eastern Cape Province of South Africa. The brothèrs were fitted with a satellite tracking unil so that our TAF monitoring team n monitor them on daily basis and they also provide very important data on the movement of the cheetahs and how they utilise the reserve. They were initially released into a custom built hunting enclosure of 1000 acres, which was stocked with prey animals. The purpose of this enclosure was to provide the brothers with adequate hunting opportunities lo leach them how lo hunt. Astonishingly. Nairo made his first kill within 24 hours of being released into the hunting enclosure. Saba and Nairo look approximately three months to develop their hunting skills and were released into the greater reseNe in November 2020, where they have been self-sufficienl ever since. They have SUC￿5sfUllY killed kudu bulls, kudu cows, eL4nd cows, blesbok. elc. They have been interacting with other cheetahs and they will be introduced to a female cheetah for breeding purposes in 2021. This has been an extremely successful project and has proved that cheetah can Successfully be released into the wild. Due lo the success of Saba and Nairo, we initiated another rewildlng intetvenlion where we partnered wrth Imire Rhino and Wildlife Conservation, in Zimbabwe in the proposed rewilding of two eheetah brothers from Canada. We have developed the release boma and initiated the CITESllranslocation permilling process to translocale the cheetahs from Canada lo Zimbabwe. Imire is a magnificent reserve in close proximity to Harare in Zimbabwe, which will be the perfect habitat for the two brothers named Kumbe and Jabari. We anticipate that this translo¢alion and rewilding will be done in February 2021. Page 15

The Aspinall Foundation Tru$tees' Annual Report For the year ended 31 December 2020 The TAF team has also been extremely busy with emergency inlervenlions and Iranslocalions in South Africa. The first of these operations was the rescue and transl(Kation of five elephants from an area lo the South of the Kruger National Park. These elephants broke out of a reserve and were Causing problems on a main road in the area. The Aspinall Foundation team mobilised external funding and a response team within 48 hours. The elephants were successfully Iranslocated lo a new reserve, We then implernenled a ground-breaking elephant Iranslocalion where we moved three elephant luskers from Tembe Elephant Park lo different reserves in the Kwa-zulu Natal Province and the Eastern Cape Province of South Africa. Tembe Elephant Park has the last remaining lusker genetics in South Africa and TAF believes il is critical lo distribute the genetics to other reserves lo ensure these genetics are secured for future generations. Although the three elephant bulls are young animals, they already have large tusks and are representatrve of the very important Tembe genetics. The tuskers are doing very well in their new homes and ale adding value lo tourism products and therefore boosting the local economies of the area. The Aspinall Foundation proudly partnered with Somkhanda Community Game Reserve in the Kwa-zulu Natal Province of South Africa in the translocation of iwo rhino orphans. Mphilo and Makhosi {Bull and cowl were translocaled from Zululand Rhino orphanage lo the reseNe, which is well protected by the EmvokwenS Trust. Mphilo was orphaned at Somkhanda about 4 years ago and has now been brought home again, to a beller protected home. This was an important proiect which shows that ￿mmUnItY reserves Can in fact protect rhinos. The operation was filmed by an American Production company and the drKumentsry has won numerous awards. The Walerberg Wild Dog Initiative contacted The Asplnall Foundation as they required urgent assistance in the collaring of wild dog packs in the Waterberg region. These are the last free-roaming wild dog packs, outside of Protected Areas in South Africa. The Aspinall Foundation provided Ihfee collars for the packs and funded Page 16

The Aspinall Foundation Trustees, Annual Report For the year ended 31 December 2020 helicopter lime, veterinary costs and assisted in fitting the collars. These collars will allow the Vwalerberg Wlld Dog Initiative lo actively monitor the dogs and ensure they are protected when they roam onto farmers lands which don't want the doys there. These farmers sometimes shoot wild dogs and therefore these animals are al risk. These dogs are now monrtored by satellite technology. As part of our continued partnership with Mount Camdeboo Private Game ReseTve in the Eastern Cape, we partnered with the reserve in the dehorning and collaring the reseNe's white rhino. The dehorning of the rhino reduces the reward for poachers lo poach on the Teserve and the collars allows the anti-poaching team to effectively monitor the rhinos. We also took the opportunf(y to adjust th8 satellite tracking collar on Harry, the elephant bull which we re￿u$d in October 2019. His condition improved so much that his collar did not fit him anymore. Due to the travel limitations of the covid pandemic. we have been planning for many proiecl$ lo lake place in 2021. These projects include the potential expansion of our aclThiilies and footprint into Wesl Africa {specifically The Gambial. We also have a numberof different animals lined up for rewilding in 2021, including roan, badger, etc. Page 17

The Aspinall Foundation Trustees, Annual Rgport For the year ended 31 December 2020 Statement of trustees. responsibillfjes The Trustees are responsible for preparing the Trustees. Report and the financhal statements in accordance with applicable law and United Kingdom Accounting Standards including Financial Reporting Standard 102 The Financial Reporting Standard applicable in th8 UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice). The law applicable lo charities in England & Wales requires the Trustees lo prepare financial slalements for each financial year which give a true and fair vifjw of the slate of affairs of the charity and of the income and expenditure of the charty for that period. In preparing these financial statements, the trustees are required lo.. • select suitable accounting policres and then apply them consislentty.. • observe the methods and principles in the Charities SORP., • make judgments and accounting estimates that are reasonable and prudent., slate whether applicable accounting standards have been followed. Subject lo any materlal departures disclosed and explained in the financial slalemenls, and prepare the financial slalemenls on the going concern basis unless it is inappropriate lo presume that the charity will continue in business. The trustees ale responsible for maintaining proper accounting records which disclose with reasonable accuracy al any lime the financial position of the charity and enabl8 them lo ensure that the financial slalemenls comply with the Charities Act 2011, the Charity (Accounts and Reportsl Regulations 2008 and the provisions of the trust deedlconstf(ulion. They are also responsible for safeguarding the assels of the charity and hence fol taking reasonable steps for the prevention and detection of fraud and other irregularities. The trustees are responsible forthe maintenance and inlegrily of the charity and financial information included on the ¢hariWs website. Legislation in the United Kingdom governing the preparation and dissemination of linanaal slalemenls may drffer from legislation in otherjurk8dictions. The Trustees have commissioned a full and detailed Govemance Remew pr0¢8ss which has been carrled out against the Charity Governance Code for Larger Charities 120201. The Report highlighted and identified overreaching themes requiring addressing and listed recommendations lo enable the Found81ion lo achieve robust governan￿ structure . The Foundation and the Trustees are currontly working lo address the issues and meet these objectives. Oblectlve$ and actlvltles The objectives of the Foundation are.. 1. The advancement and promotion (whether in Engknd or elsewhere in the worldl for the public benefit of education and useful knowledge in relation to the science of zocilogy, the preservation an exhibition of living animals and in particular {wilhoul prejudice lo the generality of the loregoingl all wild animals in danger of extinction and the conseNalion of natural wildlife inhabilanls. 2. Such other charitable purpose5 as the Trustees may by Deed appoint. Page 18

The Aspinall Foundation Trustees, Annual Report For the year ended 31 December 2020 Our commitment is lo conseryalion. through captive breeding, education and reintroduction. We are working in some of the world's most fragile environments lo save 8ndangered animals and return them lo the wild. We Seek lo meet our charitable objectives in three way8'. To hall the extinction of endangered species in the wild by reintroducing animals and developing sustainable conservation activities,. providing èconomic benefits lo local communities and helping manage wilderness areas. Provide the most natural environment possible for animals in both animal parks, and be Wor￿ leaders in our animal husbandry and breeding programmes., Increase public understanding of animal welfare and how we can all act lo protect animals in their natural environments. Public benefit The Charities Act 2011 require5 that charitable activities provide a public benefit. The Iruslee8 confirm th81, when planning ils aclivilies, they have complied with the duty to 'have regard, lo the Charity Commission's public benefit guidance when exercising any powers or duties to which the guidance is relevant. The Foundation's work on the reintroduction of spg¢ie$. including scientific evaluations and co-managemenl of protected areas, helps presetve the natural environment and natural resources for the public benefit. for both current and future generations. Appolntment and removal of Trustee$ The Charity is run by a boaTd of six Trustees. New Trustees may be appointed. up to a maximum of seven, by the ¢xisling Trustees. The statutory poweT lo appoint a Trustee vests in the Chairman and shall be exercised by deed. If at any lime, owing lo retirement, death or removal, the number of Trustees shall be reduced to less than IhTee, then the Chairman shall immediately appoint one or more Trustees lo replace the Trustees who have retired, died or beon removed. A Trustee may be removed by being given written notice from the Chairman. The Foundation Trust Deed requires that, where possible, only lineal descendant$ of the founder can be the board chair. Trustee Indudlon and tralnlng New Iruslees are provided with an induction pack outlining their legal obligations under charity law, a copy of the ¢harily'8 Trust Deed and recent financial performance ofthe ¢harity. They are also given the opportunity lo visit the Parks for a briefing on our work on breeding and caring for rare and endangered spoc1￿, Related partles and relatlonshlps wlth other organl$ation$ The Foundation works closely with an asSOC181ed charity, The Howletts Wild Animal Trust I'THWAfi which has established world.class animal welfare and captive breeding programmes in r(8 iwo Parks in Kent.. Howlells Park and Port Lympne Reserve. The Foundation re-introduces animals from the parks, caplive breeding programs back into the wild. The success of these prDgTams can be measured by th8 numbèr ot captive births and animal reintroductions set out elsewhere in this report. This work lakes place alongside the other programmes the Foundation runs overseas, where it is protecting animals from human development and poaching. Pago 19

The Aspinall Foundation Trustee$, Annual Report For the year ended 31 D&¢ember 2020 Organlsatlonal structure The Board of Trustees consideT that they comprise the key governance personnel of the Foundation. The day lo day management is delegated lo relevant individuals from within the senior management team. who are responsibl8 for various operational mallers including finance and employment. All delegated actions are monitored by valious Trustees on behalf of the Board. The Board of Trustees hold regular meetings and are responsible for the strategic direction and policies of the Foundation. Romuneratlot7 pollcy for key management p8rsonn•l Key management personnel pay rates are sel in line with other charities or companies of a similar size and with regard to our localK)n and the ne￿SSary skills and experience for the role. Fundralslng activity The Foundation's approach lo fundraising focuses on buikling Telalionships with individuals and businesses that are committed lo protecting rare and endangered species. The Foundation aims to ensure that our supporters and the wider public are treated fairly and with iespecl. 11 is Continually looking forways to improve and lo address new challenges and adopt new regulallons effectively. Despite lurbulenl political and economic limes, the Foundation remains fully commilled lo its core fundraising principles. Fundraisin roach.. The Foundation's fundraising approach is lo talk lo members of the public in pgrson and on the telephone. These are vital ways lo engage people with the work of the Foundation and raise fund8. The Foundation employs skilled fa¢e-lo-fa¢e in-house fundraisers lo carry out these aclivi11os. The Foundation also works with external organisalions who have specific expertise in lace-lo-face and telephone fundraising which allows the Foundation lo contact as many people as possible in the most cosl-effective way. Third-party fundraising is supported by robust contracts 5pecfyins that the individuals who carry out these activities are trained lo adhere lo applicable laws and codes, such as the Fundraising Regulator's Code of Fundraising Practice and data protection laws. These organisalions are expected to voluntarily subscribe lo the Fundraising Regulator, and lo reflecl the Foundation's val*Jes when speaking lo supporters. The Foundation has chosen not lo uso third-party organisalions lo fundraise door-t￿d0or. The FoundalM)n has a Personal Data Governance Framework in order lo maintain and domonslrate compliance with the General Data Protection Regulation. and is transparent aboul how personal data is used Fundraisin Standards.. The Foundation voluntarily subscribes to the Fundraising Regulator and its Code of Fundraising Practice. The Fundraising Regulator investigates and tskes appropriate action on cases of public concern. No failures to compty with fundraising standards have been notified to the Foundation. The Foundation has s￿ned up lo the Fundraising Preference Service which enab￿$ individuals lo opt out from reeeiving fundraising communications from us, The Foundation received and actioned requests where ne￿sSary from this serV￿e last year. Page 20

The Aspinall Foundation Trust8os' Annual Report For the year ended 31 December 2020 Feedb8ck and com lainls.. The Foundation had over 300,000 inleractlons with ils supporters last year through a wide range of channels, including events, face-to-fa￿, telephone, email. in the press, through social media and on the website. Complaints raised havg started lo be captured syslernalically in the current year. Supporter surveys hav8 regularly been undertaken in order lo get direct feedback from donors. Where Shortcomings have been identrfied, guidance and training foT staff and fundraisèrs have been expanded, and new processes put in place. both lo prevent r8curren¢e of the issues and lo improve supporter experience. The Foundation provides contact details for ils complaints process, and will include these details on ils website. oleclion of vulner The Foundation is especially Careful and sensitive when engaging with vulnerable people. This is reflected in our fundraising practices through our guidance and training, and by choosing not lo fund raige door lo door. Financial review During 2020 the lolal income for the Foundation was £1.95m {2019.' £2.86ml. This was frrjm three main sour¢es' donations from more than 9.000 regular supporters to th& charity, corporate donations, and Gift Aid refunds. Income is directed towards the charitable work of the Foundation in both the UK and overseas in line with the foundation's commrtmenls lo its supporters. The operating deficit for 2020 was £244,000 12019.. surplus of £1,818,000) and the new balance sheet position al 31sI DeGgmber 2020 was £37.67S.000. Investment pollcy All investments held by the Foundation have been acquired in aC￿rdan￿ with powers vested in the Trustees. Slaler Investments Limited advises on the Foundation's investment portfolio. The Foundation had a net gain of £700k {2019'. gain of £1,923kl on investments. Resetv&s policy At the year end Ihe Foundation had lolal reserves of £37,675k. Of this amount. £353k are reslricled and not available for the general purposes of the charity. Additionally. £35,120k was invested in long-lerm fixèd assets whtch consisted of Freehold and Long leasehold properties, Fine Art and other items. The free reserves available lo the Foundation were therefore £2,202k. There were no material amounts committed at the end of the reporting period. The free re8erves held are in line with the Investment and Roserves Policy which notes that the Foundation has limited fixed funding requirements and non-discretionary liabililigs. Ils annual adminislralive costs are approximately £1.200k.11 is the policy of the Foundation lo predominantly pursue an investment strategy aimed at maximising long-lerm Capital returns to preserve its reserves. 1118 difficult lo forecast with any degree of certainly what future funding streams will look like, especially in light of the COVID-19 pandemic. Nevertheless, the trustees have adopted a policy lo ensure that the resources of the Foundation are used in the most effective way to support ils objects and also lo ensure that the Foundation remains financially resilient. Our reserves policy is therefore lo maintain sufficient reserves to enable the Foundation lo continue ils activities should there be a drop in income. As such reseNes are required lo provide an adequate level of woiking capbtsl to ensure the ongoing viability of our core work. cover for risks ol unforeseen expenditure andlor unanlicipaled loss of income. Page 21

The Aspinall Foundation Trustg0$' Annual R&port For the year ended 31 Decembgr 2020 The Trustees are also mindful of the fact that should the Foundation need to wind down its activilieg, there are commitments that would need lo be met. including staff liabilities, operating costs commitments and the repayment of reslricled fund donations. In light ol the above, the Trustees aim lo maintain 8 level of TeseNes suffi'cient to cover 6 months of annual adminislralive costs. As such the objects of the reserves policy have been successfully achieved. The reserves policy is reviewed at least annualty by the Aspinall Foundation Investment Committee which reports lo the Foundalion's Trustee Board. Prlncipal risks and unc9rtalntles and rlsk managemgnt The Trustees are very aware of the types of major risks lo which the Foundation is exposed, and they have prepared an appropriate Risk Management Register, which both identifies those risks and indicates what provision has been made for dealing with Ihom. The principal risks lo which thè Foundation is exposed include.. Repulalional and financial risks arising from the Foundation's close assoclalion wf(h The Howletls Vvild Animal Trust Risks connected lo overseas operations, such as fraud. theft. injury to staff member, death of animals Fraud or data breach in the Foundation Adverse media The Trustees continue lo keep under review the systems in pla￿, which they believe are appropriate to the slze of the Charity and the nature of its operations. in order lo mitigate these risks. These mallers are considered annually lor more fiequently if requiredl when we also delemiine which major risks requiring regular monitoring, whi¢h are then reviewed quarterly. Plans for thè futur8 The key component of the Aspinall Foundation's philosophy has been the Teinlroduclion of species lo the wild. The Foundation is incr8dibly proud of ils successgs as a breeder of rare and endangeied animals. and 88 trailblazers in the world of rewilding. The Foundation has rewilded over 300 formerly captive animals into areas of protected wilderness In 2022 the Foundation wll be carrying out the biggest inteicontinenlal animal Iranslocalion that has ever been atlempled, the transfer of a herd of 13 African elephants from Howletts Wild Animal Park lo a prolecled area in Kenya. The Foundation is exploring two site5, each with its ¢)wn challenges and benefits. The larger of the o has the potential for the herd to eventually mix with tens of thousands of other elephants., the smaller sile needs rehabilitation. and our herd would help this process. The Foundation is working with the government of Pakistan to plan the reinlroduclion of one-horned rhino and ¢heetah back into the country. There are challenges lo overcome for both spec*s but the Foundation's first- hand experience of reintroducing Thinos and cheetahs in Africa will help enormously. The Foundation is looking at a potential cheetah rewilding project in UAE which, it is hoped. will highlight and pul a slop to the illegal trade in wild caught cheetah that was witnessed during ils extensivework in Somaliland. The recent trend of people posting images of themselves with habituated cheetahs is quite common in the UAE. This project will raise awareness within the country of the issues surrounding cheetah conservation and Page 22

The Aspinall Foundation Tru$toes' Annual Report For the yoar ended 31 Decèmbor 2020 consequently reduce demand for importing cheetahs, whilst facilitating law enfor￿ment when necessary. The plan is to rewild cheetahs currently held captive in the UAE for release into restored and protected 51tes. In South Africa the progress of the Howlells-born Cheetahs Saba and Nairo, will continije lo be monitored. Their progress to dale has been nothing short of spectacular and thèy have provided priceless insights into the rewilding of this species. The Foundation will also be building on the equally successful Iransf8r il organised of two male cheetahs from Canada to a reSe￿e in Zimbabwo. The Foundation is keen lo foster such partnerships with like-minded zoos and sanctuari8s around the world. The Foundation will provide the contacts and experience, facililaling a mu¢h smoother reintroduclton programme that avoids multiple transloealions and quarantines. The Foundation has plans to Teintroduce al least six cheetahs into southern Africa in the next 3 years. All this has been achieved dospite the countless zoo apparatchiks who insisted that this could never be done. The Foundation Is working with a reserye in Eswatini Iformerfy Swazilandl lo reintroduce 6 roan antelope. 10 sable and up to 4 kudu antelope from Howletts and Port Lympne, and is workinu with several private reserves in South Africa to rewild many of the smaller predators kopl al the parks (honey badgers {11, cara¢al {31, serval {61, mongoose16). Painted dogs are another southern African species Ihatwe are planning lo rewild al different siles in South Africa and Zimbabwe. The Foundation is also supporting an organisalion in South Africa that is currently breeding 2 pairs of vulnerable black-fooled cats wi(h up to 4 offspring destined lor release. The Foundation is working with the park in the UK lo create a herd of 5 disease free Cape buffalo for transfer lo Southern Afric8 within Ihe next 3 years. TB has become endemic in the region and this herd could play a valuable eonseNation role for the species. All these species have been depleted throughout southern Afri¢a and captive populations Should be pul lo good use reinforcing these areas. The Foundation will conlinueto collaborate with organisalions in Kenya that are looking lo bolster the dwsndling number of ¢rili¢ally endangered mountain bongo anletop8 by sending four males to a protected area near Mount Kenya. Other projgcls that the Foundation 13 re$ear¢hing include a protected area management partnership with a kingdom in Ghana and possible black rhino reinlroduclions in Uganda, Tanzania and Rwanda. Not all these projects will come lo fruition, and they may lake significant lime lo research bul we believe that such partnerships are always worth exploring. The successful ones have been the cornerstones oflhe Foundation's work. We have three female rhinos Crate trained and ready lo be released in their former rangè and will be able lo reintrodu￿ an eslimaled three rhinos every other year from the UK. The Foundation plans lo build on the recent successes that our emergency response team in Southern Africa has had, rescuing and Iranslocaling elephants and rhinos al risk from human conflict, poaching and bad management praclises across the region. The Foundation has built a reputation for rapid and dependable interventions with local and regional governments and communities, so mu¢h so that they are coming to the Foundation with projects they need help with. So far, 34 elephants have been rescued. and 5 rhin05 and dehorned a further 311 rhinos, and has also recently been involved in the rescue and relocation of two captive Siberian ligers. In Congo the Foundation benefits from a collal)orative govemmonl partnership and we will be increasing our Iranslocalions from the UK of Congolese species incl¥Jding several De Brazza monkeys, red river hogs {41 and walerbuck151. The Foundation will also continue ils caplive.born gori118 reintroductions, with up to 5 eaptive gorillas being reintroduced in the next three years. In Gabon the reintroduced goT11￿ groups keep growing and the presence of the Foundation al ils base camp in the heart of the national park continues to provide protection from incursions by poachers (often providing Page 23

The Aspinall Foundation Trustees, Annual Report For the year gnded 31 December 2020 the only proleclionl. The park ha5 thrived because of this, with increased numbers of elephants and other large mammals. In Sumatra the Foundation is proposing lo build a new rescue and rehabilitation centre based on the same model that has proved so successful in Java. Like Javan gibbons, siamang gibbons are kept as pets and there is an urgent need lo provide the authorities with suitable facilities for homing and rewilding confiscaled individuals. The Foundalron is continuing to finesse ils Javan gibbon and langur reintrodudion projeds in Java. and a continuous stream of primates is now rehabilitated and released back into the wild {over 180 so farl. More transfers of captive primates are planned, including 9 gibbons and 6 langurs from the UK bul a backlog has developed due lo Covhl reslriclions and sanitary health certificate updates. The Foundation has had great success with ils European bison reinlroduclion project in Romania where we successfully released a herd of 6 females into Vanalori Neaml Nature Park. The Foundation continues lo look for other opportunities for releasing ils remaining European bison. The Foundation's communily-based conservation piogramme for lemurs and other highly threatened endemic wildlife in Madagascar focuse8 on three main geographical areas. dry forests and wetlands of western central Madagascar, high elevation rainforest in oaslern Madagascar. and lowland rainforest and surrounding habitat fragmenls also in eastern Madagascar. The Foundation will continue lo help conserve six critically endangered lemur species as well as critically endangered Madagascarfish eagles and big-headed turtles, plus many other endangered and endemic species of mammals, fish and birds. The Foundatlon has been able lo leverage ils core funding 10 Successfully apply for several eonservalion grants from various organisalions which fund our remarkably effective work in Madagascar. Statement as to disclosure to our auditors In so far as the Iruslees are aware.. There is no relevant audit information of which the charity's auditors are unaware., and The Iruslees have tsken all steps that they ought lo have taken to make themselves aware of any relevant audit informalbon and lo establish that the auditors are aware of that information. Audltors Goldwins Limited were re-appointed as the auditors of the charity during the year and have expressed their willingness lo continue in that capacity. e trustees, annual report has been approved by the trustees on 19 October 2021 and signed on their alf by Da ian A$pinall en Petermann Page 24

Independent Auditor's report to the Trustees of The Aspinall Foundation Oplnlon We have audited the financial statements of The Aspinall Foundation Ilhe 'charity'l for the year ended 31 De￿mber 2020 which comprise the Slalemenl of Financial Aclivilies, Balance Sheet, Slalemenl of Cash Flows and notes lo the financial slatemenls, including a summary of significant accounting polici8s. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards. including Financial Reporting Standard 102.. The Financial Reporting Standard applicable in the UK and Republic of Ireland Iuniled Kingdom Generally Accopled Accounting Practice). In our opinion, the financial statements.. give a true and fair view of the slate of the charity's affairs as at 31 December 2020 and of its income and expenditure for Ihe year then ended". have been properly prepared in accordance with United Kingdom Generally Accepted Accounting PraCtI￿-, have been prepared in accordance with the requirements of the Charities Act 2011. Bas1¥ for oplnlon We conducted our audit in accordance with International Standards on Auditing IUKI IISAS {UKII an applicable law. OUT responsibilities under those standard5 are further described in the Auditor'5 re5ponsibililies for the audit of the financial slalemenls section of our report. We are independent of the chafily and of the parent charily in accordance with the ethical requirements that are relevant lo our audit of the financial slalemenls in the UK, including the FRC'S Ethical Sl?ndard and we have fulfilled our other ethical responsibilities in accordance with these roquirements. We believe that tho audit evidence we have obtained is sufficient and appropriate lo provide a basis for our opinion. Concluslons relatlng to going concern In auditing the financial statements, we have concluded Ihal the trustees, use of the going concern basis of accounting in the preparation of the financial statements is appropriate. Based on the work we have perfomied. we have not idenlilied any material uncertainties re￿tIng to &venls or conditions that, individually or collectively, may cast signrfic8nt doubl on the charity's ability lo continue as going concern for a period of at least ￿e1ve month$ from when the financial slalements are authorised for issue. Our re8ponsibililies and the responsibilities of the trustees with iespecl to going concern are described in the relevant $eclion8 of this report. Page 25

Independent Auditor's report to the Trustees of The Aspinall Foundation Other Information The other infonration comprises the infomalion included in the Iruslees, annual report other than the financial slalemenls and our auditor's report Ihereon. The Iruslees are responsible for the other information contained within the annual report. Our opinion on the financial slalemenls does not cover the other information and, except to the oxlenl olherni3e explicitly slated in our report, we do not express any form of assurance conclusion Ihereon. Our responsibility is lo read thè other information and, in doing so. consider wholher the olhei information is materially inconsislenl with the financial slalemenls or our knowledge obtained in the course of the audit, or othe￿ise appears lo be materially misslaled. If we identify such material inconsistencies or apparent material misslalemenls, we are required to determine whelherlhis gntes rise lo a material misslalemenl in the financial stslemenls themselves. If, based on the work we have performed, we Conclude that there is a material misslalemenl of this other information, we are required lo report that fact. We have nothing to ￿pOrt in this regard. Matters on whlch we are r8quired to report by exception In the light of the knowledge and understanding of the Charity and environment obtained in the ¢our$e of the audit, we have not identified molerial misslalements in the Trustfjes, Annual Report. We have nothing lo report in respect of the following matters in relation lo wh￿h the Charities Act 2011 requires us lo report to you if, in our opinK)n'. 8ufficienl aceounling records have not been kept.. the financial statements are not in agreement with the acwunling rec￿d$ and returns,. or we have not obtained all the infom)alion and explanations necessary for the purposes of our audrt. Responslbllltles of the truste0$ As explained more fully in the Iruslees, responsibililtes slalem8nt, the Iwslees are responsible for th9 preparation of the financial statements and for being satisfied Ihal they give 8 true and fair view. and for such internal control as they determine is necessary to enablo the preparation of financial slalemgnls that are free from maleTial misstatement, whether due lo fraud or error. In preparing the financial stalemenls. the trustees are responsible forassessing th? charity's ability lo continue as a going concern, disclosing, as applicable, matters related to going con￿rn and using the going concern basis of accounting unless the trustees either intend to Iwuidale the Charity or to cease operations, or have no ￿81￿11¢ allernalive bul to do so. Page 26

Independent Auditor's report to the Trustees of The Aspinall Foundation Our respon$lbllltlg$ for the audit of the financial statements Our objectives are lo obtain reasonable assurance about whèther the financial slalements as a whole are free from material misslalemenl, whether due to fraud or error, and to issue an auditor's report that ineludes our opinion. Reasonable assurance is a high lfjvel of assurance. but is not a guarantee Ihal an audit conducted in accordance with ISA5 IUKI will always del￿( a material misstatement when it exists. Misslalemenls can arise from fraud or error and are considered material if. individually or in the aggregate, they could Teasonably be expected lo influence the economic decisions ol users taken on the basis of these financial slalements. Irregularities, including fraud. are instances of non-compliance with laws and regulations. We design procedures in line with our Tesponsibililies, outlined above, lo detect material misstatements in rgspecl of iiregularilies, including fraud. The extent lo which our proc8duro$ are capable of detecting irregularities, including fraud are sel out below. Capablllty of the audlt In dote¢ting irregularities In identifying and assessing risks of material misslalemenl in respect of irregularities. including fraud and non- compliance with laws and regulations, our procedures included the following,. We enquired of management, which included obtaining and reviewing supporting documenlalion. concerning the charity's policifrs and procedures relating lo.. Identifying, evaluating, and complying with laws and regulations and whether they were aware of any instances of non-compliance., Delecling and responding lo the risks of fraud and whether they have knowledge of any actual. suspected, or alleged fraud,. We inspecled the minutes of meetings of those charged with governance. We obtained an understanding of the legal and regulatory framework that the charity operates in, focusing on those laws and regulations that had a material effect on the financial slalements or that had a fundamental effect on the operations of the charity from our professional and sector experience. We reviewed the financial st8lemenl disclosures and tested these to supporting documentalion to assess compliance with applicable18ws and regulations. We performed analytical procedures to identify any unusual or unexpected relationships that may indicate risks of material misslalement due lo fraud. In addressing the risk of fraud through management override of controls, we tested the appropriateness ofjourn81 entries and other adjuslmenls. assessed whether Ihejudgemenls made in making accounting e51imales are indicative of a potential bias and tested signifreanl transactions that are unusual or those outside the normal course of business, Because of the inherent limitations of an audit, Ihe¥e is a risk that wo will not delect all irregularities, including those leading lo a material mi5slalemenl in the financial slalemenls or non-compliance with regulation. This risk increases the more that compliance w((h a law OT regulation is removed from the events and transactions reflected in the financial slalemenls, as we will be less likely lo become aware of instances of non.compliance. The risk is also greater regarding Irregularities OCCUfring due lo fraud rather than error, as fraud involves intentional concealment. forgery. collusion, omission or misreprosenlation. Page 27

Independent Auditor's report to the Trustees of The Aspinall Foundation A further description of our responsibilities for the audit of the financlal stalernenls is located on the Financial Reporting Council's website al.. Iwww.frc.org.uklaudilorsresponsibilitiesl. This description forms part of our auditor's report. Use of our report This report is made solety to the charity's trustees, as a body, in accordance wf(h section 144 of the Charities Act 2011 and the regulations made under section 154 of that Act. Our audit work has been undertaken so that we might stste lo the charity's Iruslees those matters we are required lo slate to them in an auditor's report and for no other purpose. To the fullest exlenl permitted by law, we do not accept or assume responsibility to anyone other than the charity's Iruslees as a body. for our audit W￿k, for this report, or for the opinions we have fomed. Date: 21 October 2021 Goldwlns LlmSt8d Statutory Audltor Chartered Accountants 75 Maygrove Road West Hampstead London NW6 2EG Page 28

The Aspinall Foundation Statement of Flnanclal A¢tlvltSe$ {Including Income and Expènditure Accounti For the Yfrar Ended 31 December 2020 Total Fund8 2020 £'ooo Total Fund8 2019 £'oco Unrestrlcted Ftsnds £'ooo Restrl¢ted Funds £'ODO Nota Incom• from: Donations and18gaci85 Other trading activities Inveslmant Incomè 1,473 63 333 79 1,552 63 333 1,395 1.247 219 Totsl In¢ome 1.869 79 1.948 2.861 Expendlturn on,. Raising funds Charitable a¢tivtties 588 2,265 588 2,304 1.602 1.447 39 Totsl ex￿n￿lture 2,853 39 2.892 3,049 N8t 98in8 on inveslrnents 11 700 700 1,923 Net Incomgllexp?ndlturel for thg year 12841 40 12441 1,735 Gains on rèv8luat¢on of fixèd assèt5 83 Not mov•m•nt In funds 12841 40 12441 1.818 Rgeonciliation of funds.. Total funds brought fofward 18 37.606 313 37.919 36,101 Totsl fund$ Carrlgd forward 37.322 353 37.875 37,919 The Statement of Financial Activities include5 all gains and losses in the year. Incoming re$ource$ 8nd rèsources expended dèrivtr trom eonlinuino activities, Page 29

The Aspinall Foundation Balance Sheet As at31 Docam￿r 2020 Notes 2020 £'ooo 2019 £'ooo £'ooo rooo Flxfrd ass•ts Tangible assets Investments 10 11 24,707 10,413 35,120 25.798 8.599 34,395 Current a5S8t8 Debtois Cash at bank And in h8nd 12 2,204 2.763 4.967 2,209 2,180 4.389 Creditor8'. amounts falllng due wlthln ono year 13 412 Nèt cuirent a55etS 4,555 Totsl assèts l•s$ eurrènt Il¥bllltl98 39,675 38,120 Credllors: amounts falllng due aft•r moro than on• y￿r 14 12,0001 12011 Totsl ngt a¥$ets 37,675 37,919 Fund5 of the Charity Restricted funds UnrestrKted funds.. General reserves Revaluation reserve Total unr8slricted funds 353 313 18 24,126 24.064 13.542 37,322 37,606 Total lunds 37,675 37,919 Approved by the Trustees on 19 October 2021 Antl s￿ne￿ on their behalf by A A8plna Trustso Page 30

The Aspinall Foundation statèment of Ca$h Flows For the Year Endèd 31 December 2020 2020 £'ooo 2020 £'ooo 2019 2019 £'Th)O £'OOD Notes Cash flowB from op*ratlng aetlvltles.. Net cash provided by I (used inl operatire activiti¥s 15 617 82 Cash flows frorn invèstlny a¢llvitie8: InleTesV renu dividends from investments Salel Ipurch8881 of fixed assets investments Salel Ipurchasel of fixed assets 333 219 102 1,607 748 Cash prO￿ded by I (used inl invèstlng aetlvltle6 Chanoe In cash and cash •qulvalonts In thg year 583 2,010 Cash ar￿ cash equivalents at the bgginnlng ol tho year 2,180 170 Cash and cash equlvalgnts at th• •nd of the year 16 2.763 2,180 Page 31

The Aspinall Foundation Notts to tho Flnanclal Statements For the Year Ended 31 Dgcgmber 2020 A¢¢ounting Pollek$ Tho followng accounts.ng polKi88 have been applled con¥istenlly in dealing with iterns which are considerad material in relation to th8 chaiity's financial statem6nls. Basls of P￿paratIon The financial statements have been prepared in accordan￿ wilh Accounting and Reporting by Charits"85.' Statem8nl of Re¢ommend8d Practs'rè applicable to charit￿$ preparing thelr 8ccount8 in accordan￿ wrth the Fin8n¢ial Reporting Standard 8ppli¢able in th& UK and Republic ol Ireland IFRS 102 effective 1 January 20151. Icharilies SORP FRS 1021. The charity m88ts the definition of a pu￿1¢ b9nefil entlty under FRS 102. Golng concern The trustee6 consider that there are no materi81 unc8rt3inties about th8 charitys ability to continuo as a gotng ooncgrn. The tiust88s do not consider that th8re are any sources of estimation uncertainty al th8 reporting date that have a significant risk of causing 8 material adjustment to the carrying amounts ol assets and liabilities within the n8Xt reportiro period. Incom• Income is r8cognised when the charity has entiuement to thè lunds, any performance conditions attached to the Incotno h8ve been met, It Is probable that the income wll be weived aNJ that the arnounl can be rneasured r6liab(y. Donatlon8 of 91ft8, ￿￿VIC8S #nd facllltle8 Donated prof855ional servi￿$ and donatèd facilities are recognlsed 88 income when the charity has control over the item or received the service, any condition5 associated with the donation have bèen met, the ieceipt ol economlc bènefrt trorn the use by the charity of the item is piobable that economic benalil can b m9asured reliably, 8nd is matorial to the accounts. In a¢cordance with the Ch8rilie8 SORP IFRS 1021, volunteer time is not rècogni58d so refer to the Trust88S' 8nnual report for more inforrnalion about their contribution. On receipt, donated gift5, professional service5 and donated facilifjes alè recognised on the basis of t V8Iu8 of the gift to the charity which is the amount tho charity would have wallin9 to pay to obtain services or lacilitios o16quiva18nl economic benefit on the open market.. a correspoThling amount is thèn recognised in expenditure in tho period ol receipt. Int•rg$t r•¢eSvablo Interest on funds h81d on deposit is included when receivab￿ and the amount can be measur6d reliably by the charity", this is normally upon notificthon ol the interest paid or payable by (he bank. Fund Accounting Unrestricted funds are availab￿ for use at the discretion of the trustees in furth8ranc8 of the general objectives of the charity. Unrestricted funds include a rev8lu8ty.on reserve rtpresenting re5ts1ement of investrY18nt assets al marf(ot valuas. Restricted funds are acwunted lor in accordance wrth the temis of the trust arising from tha 8xpress or i￿￿￿d wishes of the donors. in so far as thèse 8re intended to b8 binding on the Iruslees. Pag• 32

The Aspinall Foundation Nots$ to tha Financial Statements For thg Year Ended 31 Dec8mb•r 2020 Accountlng Pollc186 Icontlnugd) Expgndltur• and Irrg¢ovorab18 VAT Ew8nditure Is recognised once there 1$ 8 legal or constructive obltgation to mak6 a payment to a third party. it is probable that settlernent will bg iéquired and the amount of the obluation can be measured rèllably. Expenditure is classified under th8 following activity headings.. Costs ol raisiNJ funds comprise of trading costs 8ThJ the costs incurred by the charity in inducing third Parties to make voluntary Contribution5 to it, as well as the cost of any activitiès with a fundraising purpose. ExpenditU18 on charitable activit￿$ includes th8 costs of delivering services undèrtakèn to further the purp03es of the charity and their associated Jupport costs. Other eypenditure repre58nts th050 Itams not falling into any other heading. Irreeoverable VAT is charged as 8 cost againstthe activily lor which th8 eX￿nditUre was incurred. Support costs are those funcbons that assist the work of the charty but do not direcuy uThYertakè charitable activities. Support costs illelude back office costs, finance. personnel, payroll and govemance costs which support the chaiity and Its activities. These costs havè beon allocated between cost ol raising funds and expenditure on charitable activities. Expenditure is allocated to categories in accordance wrth the main actimty ol tha staff cOn￿rned or the substaEK8 01 thè costs incUr￿d. Tangibl• fixèd assets and depre¢l#tSon Freehold land and works of art ara not depreciated, as these asS8t5 in the opinion of the trustees. worth in ex￿$$ of their book valu85. Thè freehokj mansion is dgpreci8ted at the rate 012% per annum on cost. SofNvare & IT Equiprnenl, Motor vehldes. and Furniture. Fixtur85 and Equitxnent are stated al cost less depreciation at a rat8 0125% reduciro balance. The carrying values of tangible fixed a8sets arè ￿￿•Wed for impaimienl vthen 4￿nts or changes in circurnstsncès fndlc8tè that the carrying value may not be recoverable. Operating leas•s Rental charge5 aro charged on a straight line basis overthè term ol the18ase. Flxgd Asset In￿sIMOn￿ Inve$lmènts are a form ol basic financial instrument and are iniiially recognissd at their transaction value and subsequently measured at their fair value as al the balance sheet d8te using the closing quoted market pricè. Any change in lair valu8 will b8 r8¢ognised in the 8ts18rnenl of IinancLal activities. Unlisted In￿StsmentS are staled al trustees, v81uation. Debtors Trade and other dtrbtors are recognised at thè satt1ement amount due atter any trade discount offered Prepayments ar8 valued at the amount prepakl of any trade discounts due. Ca¥h at bank and In hand Cash al bank and cash in hand includes cash and short temi hlghly liquid inve5tr•ntS Wth 8 short maturity ol th￿e months or18ss from the date ol acquisitr'on or op8ning of the deposit or similar account. Page 33

The Aspinall Foundation Notes to the Flnancial Ststements Forth• Year Ended 31 Decembor 2020 Accountlng Poll¢l•s l¢ontlnu$dl Cradltorn and provislon8 Creditors and provisions are rgcognised where the charity h85 a present obligation ￿su￿"n9 from a past event that will probably 185uIt in the transfer ol funds to a Ihird party and the amount due to setNe the obligation can be measured or eslirnat8d reliably Creditors and provisions are normally recognisod al thèir 88tt18m&nt amount after allowng for 8ny trade discounts due. Flnanclal Instrument8 The Charity On￿ has financjal assets 8nd fin8nrial liabilit￿$ ol a kind that qualify as basic financial Instrument$ Basi¢ financial instrum6nt5 8r8 initially recognised at Iransactlon value and subsequently measured al th8ir sewement value with the exe6Ption of bank loans which are subsequently rneasured at amortised eost using Ihe effective interest mèthod. For819n Currgnclos Transa¢ti¢n8 in f￿ign currenctes ara recorded us4ro the rat8 016xchan98 wling al the data of thè transaction. Monetary assets and 118bilit￿o8 denorninaled in foreign currtrncie5 are translated using th6 rat8 of axehang& ruling at the Balance Shéèt d8t8. Gains or losses on translation are included in the Statement ol Financial Acliviti8S. Pen8lon8 The Foundation makes wntributions to a defined contrlbution $¢heme for certain staff membèrs. The ¢ost of these wnln'buti¢￿s is charged to the Statement of FSnanual Activities when incurred. Page 34

The Aspinall Foundation Notes to thè Financial Ststom&nts For tha Year Ended 31 D&¢gmber 2020 D•tal￿d comparatlvg8 for th• stat•mgnt of financial actlvltles UnrgstTl¢ttd Rostrlcted Fund$ Funds £'ooo £'LK)O Total Funds £'(KJo Ineom• from.. Donation8 8nd legacies Other trading aclivits"85 Investment Income 1.344 1.247 219 51 1.395 1,247 219 Total Incomg 2.810 51 2,861 Expendlture on.. Raising funds cha￿tab￿ activit￿$ 1,602 1,445 1,602 1,447 Totsl expondlture 3,047 3,049 Nat Incomg I l•xp•ndlturel befor8 net galns I 110858sI on Inv•stmonts 12371 49 {1881 Net gains I Ilossesl on investments N•t Incomg 1,923 1,686 1,923 1,735 49 Gains on revaluation ol fixed a$8ets Not Movement in funds 83 1,769 83 1.818 Recon¢lllatltsn of funds: Total funds brought forward 35,837 36,101 Total funds carrlod fotward 37,606 313 37,919 Income from donatlons 2020 £'ooo 2019 £'ooo Lega¢i85 Donations Animal sponsorships Grants 10 1,318 148 76 1.552 150 1,131 114 1,395 2020 £'ooo 2019 £'ooo 4 Ineome fr(Trm Other tradlng activitie¥ Dlnner Other 1,123 124 1,247 62 Pagg 35

The Aspinall Foundation Not8s to the Financial Statements For the Year Ended 31 D8cembtrr 2020 Incomè from Investments 2020 £'ooo 2019 £'ooJ Income from listed investmènts Rental incomè Interest on loan$ 151 107 75 333 92 30 97 219 6 Expendltur• 201• Tot Pr4•¢B Tèt1 ¢ost4 iar•eHythiat•do 274 IY8 641 782 InWHnc• DlrKI 182 25 195 Supptsrt 13s 53 132 $3 212 43 747 vxpvnthtuio2DI1 Ortsty￿e>E￿￿￿èÈ3￿S3sV￿¥r•dC￿d (Wqg. £1.852)¥￿ E285I$9Sxs￿*rIEd(2Ol9. ￿.016.42J). 7 N?t Income l1oxpgndltur81 lor th? year 2020 £'ooo 2019 £'ooo This is stated aftèr charging I Icraditingl.. Auditors, remungratDn Depreciation 12 162 20 162 8 Taxatlon The charity J5 ex8mpt from incomo lax as all its income is Charrtable and L% applied for ch&rilabl8 purposes. Page 36

The Aspinall Foundation Notes to the Flnancial Statemènts For thg Yaar Ended 31 D&¢omber 2020 Analys18 of staff costs, trust¢0 r9munératlon and expensos, and the cost of key managémènt per8onno1 2020 2019 £'ooo £'c(Jo Salariès and wages Social security costs P8nsion costs other staff costs 569 46 14 12 640 70 31 21 641 762 Th8 number ol employees whose total employee benefits lexduding employer's nalsonal Insurance and pension costs) for the reporting period amounting lo over £60,(M)O werè as follows.. 2020 2019 No. No. £70,000- £79,999 £80,(K)0- £89.999 The averagè number olernploye85 during the period w8S'. 2020 2019 No. 19 19 Thg total employee gr05s salary and ben8h'ts, including 9rnployerfs nats'onal insuranee and pension aontiibutions of the k8y management personnèl ￿Ere £131,395 12019.. £229,923). The charity truste88 war6 not paid for etnpltswnent by. nor did thèy receive any other employment b&nefbts Ir¢)m the Trust in tha year12019'. £nill. JDA Aspinall was reimbursed during the year a total of £4.25712019'. £18,0031 for eKp8n5e5 incurred on b8hall ol the Foundats'on. No other trust98 received any reimbursement ol expenses during the year12019.' £nill. No ch8rfy trustee received payment for prof8ssional or other services supplied to the charity {2019." £nill. Pagg 37

The Aspinall Foundation Notes to th8 Flnancial Statom&nts For the Year Ended 31 Decomljer 2020 10 Tan9lbl• Flx•d A88et6 Froghold and Long Leasehold Property £'ooo Fumlture, Flxtures, Flng and Art Equipment £'ooo £'ooo Total £'ooo C08t At 1 January 2020 Additions Disposals At 31 De￿mber 2020 23,909 14 9571 22.966 3.1C6 1( 14 27.121 30 957 26,194 3.108 120 Dèprgclatlon At 1 January 2020 Charge for the year At 31 Decembaf 2020 1,272 148 1.418 53 16 69 1.325 162 1,487 Net Book Value At 31 December 2020 21,548 3,108 51 24,707 At 31 December 2019 22,637 3,106 53 25.796 All ol thg above assets arè used for charitsble purposes. Page 38

The Aspinall Foundation Not8s to the Flnanclal Statemonts For the Yoar Endod 31 December 2020 11 Flxed Asset Invostments 2020 £'ooo 2019 £'o Invgstsngnts at falrvalue Listed inv851ments- UK Unli8led invtsslments at Trustees, v8lu8tlon 70,306 107 10.413 8,492 107 8,599 Movements Market valuo at 1 January 2020 Additsons Disposals Income Net investmentg8inslllossesl Matkat value al 31 Decemb8r 2020 8.599 1.000 1381 152 700 7,779 11,1951 92 1.923 12 Debtors 2020 £'ooo 2019 £'ooo Trad6 debtors Long term debtors Other debtors Sundry debtors Accrued inwma Prepaym8nts 45 1,422 883 21 23 15 2,209 2,000 124 2,204 13 Credltors: amounts falllng dug wlthln onè y•ar 2020 £'ooo 2019 £'wo Bank ovgrdraft Trade cr8dltors Othgr creditors Other taxss and social security Arxruals 13 132 472 118 15 249 412 664 14 Crodltors: amounts falllng due after more than one year 2020 £'(K)o 2019 £'oo) Bank loaris 2,000 2.000 201 201 Page 39

The Aspinall Foundation Notes to th$ Financial Stat&monts For tho Year Endod 31 Docèmbgr 2020 16 Reconelllation of net Income I lexpendltur•l to not ca$h flow from opgratlng actlvltle$ 2020 £'ooo 2019 £'ooo Net loulgoingl Iineoming ￿SoUrceS before other recognisad gain3 Intsrest. rent and dividènds frcm investments Depreciation (Gainsll losses on inv95ttn8nts (Lossy profit on the salg of fixed assets Ilnereasel I decrease In debtors Increas6 1 IderJeasel it) creditor$ Nel cash provided by I (used inl operating activities 12441 13331 162 I7￿) 1,735 12191 162 11,9231 195 1771 1,547 617 82 16 Analy818 of chang&s in cash flurlng the year Totsl 2020 £'ooo Total 2019 £'ooo Cash at bank and In hand 2.783 2,763 2.180 2,180 17a Analy81$ of Net A$sels bgtW8èn Funds Goneral Re8tr1et•d Funds Funds £'ooo £'ooo Total 2020 £'ocKJ T8ngible fixed assets Investrn8nts Current assets Current liabil￿118$ Non-currenl liabilities At 31 December 2020 24,707 10,413 4,614 14121 2,0001 37,322 24,707 10.413 4,967 14121 2,000 37,675 353 353 17b Analy$l¥ of Net Ass•ts bgtween Funds 2019 G?neral Restrleted Funds Funds £'ooo £'ooo Total 2019 £'ooo Tangible fixèd 8ssg18 Investments Current assets Current liabilitiès Non-current liat%'lities At 31 D8cember 2019 25.796 8,599 4.076 16641 201 37.606 25,796 8,599 4.389 16641 201 37,919 313 313 Page 40

The Aspinall Foundation Notes to tho Flnanclal Statements For the Yoar Endod 31 Decemb&r 2020 18 Movement In Funds At tho stsrt of th8 yèar É'ooo Income & Expen5e5 & 8alns losses £'ooo £'ooo Atthe end Transfers ol the year £'ooo £'ooo R9$11i¢tèd funds.. 313 79 1391 353 Total restrict&d fvnds 313 79 1391 353 Unrestricted lunds.. General fvnds 37.606 2,589 12.8531 37,322 Total unrestricted fvnds 37.606 2,569 12,8531 37.322 Total funds 37,919 2,648 12,8921 37,675 Page 41

The Aspinall Foundation Nolgs to the Financial Statements For the Year Ended 31 December 2020 19 Rola1￿ Party Transaetlons May 2020, JDA Aspinall. CPN Filmèr, B Goklsrnith and RM Birley, in their capacity ol Trustees of the Foundation. entered into a Coronavirus Business Interruption Loan 'CBIL' of £2,000.000. No interest or C8Pltal repayments are due during the 8usiness Int8rruplion Payment1'81PI period 112 months from Ihg date of the first drawdownl. Thereafter, Inte￿st is charged at 2.09% a￿)ve base rate, ard 16 quarte¥ly capital payments of £125,000 ar8 due. The loan is guaranteed by Howletts & Port Lympre Estates Lt¢J I'HPLE'I and The H￿ett$ Wild An￿nal Trust I'THWAri. The CBIL was subsequentty loan8d lo THWAT on thè same teims as those of th8 original loan. JDA Aspinall is Chairman and truste8 of THWAT and T Aspinall is a trustee in THWAT. Th9 loan is aulhorised by th6 FoundatI￿'S goveming documents. At 31 Daearnber 2020. after t8kirKJ into account the ba18nca8 owed by the Foundation of £134,803. THWAT and its subsidiary owed the Foundation £1,865,19712019- £1,735,243). JDA Aspinall is Chairnian and tiuslee of THWAT and T Aspinall 15 a trustee ol THWAT. During the year, thè Founda*'on was repaid the following loans from HPLE. which were mad8 for the purpose of capital expenditure.. Addilionsl At31 Interest (Repayment Dgcernber charged 2020 Al 1 January 2020 Capital Expenditurè 2018 Restaurant Capital Expenditure 2017 8% interest Other Capital Exp8nditure 2017 8% Interest Capital Expenditvre 2016 380,{￿0 271,924 17.204 13.583 1397.2641 1285,5071 569,147 14.770 1583,9171 201,250 1,422,381 3.461 49,018 1204,7111 1,471,399 During tha year, the Foundation received income of £121.211 12019- £30,0001 from JDA Aspinall lor Ihe Tent of Howletts Mansion and other rech8rges Al 31 DeCem￿r 2020, £8,089 was owed to th6 Foundation by JDA Aspinall and this has Sin￿ beèn repaid12019- £113.122 tsw8d by the Foundation to JDA Aspinalll. The rent has bèan calculated by reférence to an independent professional valuats'on ol Howlatts Mansion. During th8 year, the Foundation was invoiced by Avarium £124,231 12019 - £64,304) at aTh's length for aceounling servI￿s. CPN Filmer is a d1￿Ctor of Avarium. Fees are chargad at a discounted rate and comprisè a fixed element lor day to day accounting and adrninistratwe work, and a time-based elernenl for additsonal project-based work. All invoices are approved by the Chairman and by one of the indepe￿Ient trust885. During 2020, the Foundalion paid Mrs V Aspinall, the ￿fe of JDA A$pinall, £150.158 at atrn'$ length for interior d6$vJn services 12019 - £12.5001. The fees charged were subject to a ngorous benchmarkiThJ exercise to 8nsure that the Foundats'on recep￿1 value for mon8y. Thesè paymenls to ￿lated parti85 are all authorised by tho Foundatrjn's governing documents. DurirvJ 2018, JDA Aspinall, CPN Filmor and RM Birley. in their capaaty as Tmstees ol the Foundati entered into a Limited Guarantee and Indemnity agreement with Barclays Bank PLC for the liabilitr.es of THWAT18mounl £5.000,0001. Page42