2022-12-31-accounts

JOHN SWIRE 1989 CHARITABLE TRUST REPORT AND ACCOUNTS YEAR ENDED 31 DECEMBER 2022 Charity number: 802142

JOHN SWIRE 1989 CHARITABLE TRUST IN DEX Year ended 31 December 21122 Pa8• G¢n¢ral infomtJon Report of the trustees Auditt¥rs' report Stat¢meftt gf fift1￿131 atthities 10 8alance sheet Stat#nent of ush Ilows 12 Note5 to tht fittanclal ststèmers

JOHN SWIRE 1989 CHARITABLE TRUSf GENERAL INFORMA TION Year ended 31 December 2022 Estxbllshed by deed 7 September 1989 Chthty number 802142 Trustees I S Swire B N Swire W Leigh-Pemberton Power tt appoint new Truste¢s was vsted In th settkr during hi5 lrfeume and thereafter in the Tru3tee5 provided that rhere are ￿waYS a¢ least three Tru5teE& Settlor Slr John Swire. CBE (dEceaxd) Trust fund £100. further 5etdements. ol income. ¢apit41 accretion or otherwise and property repre%enrin8 the Obl¢rfS Su¢h charirable obiects as the settlor shall in wrTunK direct or in delault of direction a5 the Tru$¢ee5 shall from tyme io time determine. A¢¢umul•tlon Durin8 the period of 21 year5 from the date of the trust d¢¢d. the Trustees had power to accumulate the whole or ar¢y part ol the income of the Trust Fund. Power to retsl The Trustees have power to retairs any John Swire & So Limited shares c<>mprised sn the Trust Fund Investment Powers of Investment as an absolute beTrefKrdl owner. Investment mana8ers Sarasin & Partners LLP ltsxon House lth) St Paul's Churchyvd London EC4M eBU Bankers Coutts & Co 440 Strand London WC2R OQS Auditors Dixon Wilson Audlt Strvites LLP 22 Chancery Lane Lond¢*N WCZ4 1 LS Address Swire House 59 Buckingham Gate London SWIE6AJ

JOHN 5WIRE 1989 CHARITABLE TRUST REPO R T OF TH E TKUSTEÉS Y¢r end￿ 31 Decémb¢r 2022 The Trustees present their ryirt and financial stattments of the charity for the year ended 31 December 2022. The finan governance and M￿agement The Tru5r 15 an unincorporated charity. cpn5tructed under a trust deed dated 7 September 1989 and 15 a re8i5tered charity, Trumber 802142. In ateordance wlth the TNst deed. the minlmum number of Trnstees 15 three. The power to appoint new Trustees is Vèsted itt the TrusreÈs. If at ny time thtre rernain only two Trustee& the remaining Trnstées must appolnt another Truste4 $0 that a minimum of three Trustee5 15 rnaintained. Responsibility for the induction of all new Trustees, which involve5 awareness of the history and approath of the harity and an understanding ol a Trustee's dutie5. lie5 Wlth the Chair. New Trustees receive detailed inforrnavon about the charl￿5 governance, grant makin& and financial position, including copies of Ch¥ity Cornm￿510n 8uidance for trustee5. the charl￿$ 8overniTr8 documen( aThd the annual report and accouThts. The Trustees are directly responsible for the management of tht charlty. The TNJstees agree the charitys strategy. rwl¢w •ppro¥¢ donatltsns an¢J granfs. ov¢rs¢¢ th¢ ¢harity's goverfian¢. including the inv¢s¢mnk r¢se4es. and risk management pollcles. whlch are re¥lewed annually. The Trust deed provides the Trustee5 wth broad powers to create pohces to support the maaa¥emenL 8overnarKe. and administration of the charity. G￿￿t maklng pollcy The Trustees hold rneetinKs lo￿r tlmes i year to eoAsidtr and donatyons. Proptssals for all grdnts are onsldered by all Tru5rees. The chartty does not run open funding programmes or encourage unsolicted applicatioTr& Most potential grant holders are initially identrfied by the Trurtoos. t>Je diligence is then undertaken by a Sm￿1 team on behaw of the Trustees before grants agreed. Or8anisation5 seeking funding are usu￿￿ required to submit a regue5t explaining how fund5 would be used and what would be achieved Al requests for fundiTr8 are managed online. ObS•rtlv•s, actlvltlw and achl•v•monts for the publle b•fiÈfit The Trust Deed contwn$ broad charitable objects which allow the Tru5tse4 in their th5crerion. to pay or apply the income and. rf ayeed. the capital of the Trust Fund to or for the benefit of any Charitable bodies. trus association5. institution5 or organisation5. as they see fiL During the year the ¢h¥lty has b¢¢n •bl¢ ¢0 ¢ontJnue to mak¢ ¢Jtsnatlon$ and zr3nts to1￿11￿£ £2.ni 282 12021 12.252,7941. Grants iy•arded by the ￿hn Swirt 1989 Charitable Trnst rdtct the interests of the Setdoés famlly and the Trustees. ID 2021, ar¢as of focu5 for the tharitY'5 grant-making incl￿ded 5UPPOrt lor the welfare of rnarginalised or di5aihantaged individua15 or communities initiatives to help younE people not in eduution. employment or tralning thrive, and environmental projetts. including habitat conservation and restoration. fresh water and marine n5ervation, and loc￿ engyment with nawre and the eTrvironm¢nL The chariry also h3s a geographic focu5 to Its grani rnaknn& In 2022. the charity 5UPPOrt¢d charities in Kent throu several grani making pro8ramme5 delivered by the Kent Cornmunity Foundation, induthng the Kent Communiry Foundation's Fund for the EnYironmenL Core Funding Programme, and Cov*&19 Fund. Several charities operating on the151e ol w￿ht a150 recetved grants in 2022.

JOHN SWIRE 1989 CHARITABLE TRUST REPOR T OF THE TRUSTEES Year end￿ 31 D¢c¢mber 2012 The Trustees. having rewd to the public bEnefrt zuidance PLthlished by the Chariry Commissipn in accordance with Section 17 of the Charities Act 201 I, consider that the purpose and acti￿￿e$ of the charity 5atysfy the requirements of the publ¢c benefrt test set out In See￿0￿ 4 of the sam Inv•stment pollcy and perfornianc? Under para8raph 5.2 of the Trust deed the Trustees have power to retain shares in John Swire & Sons knmtLed. and are no¢ under any duty to diversfy to the extent that the Trust Fund eomprises those shares. The Trustee5 have also noted the statu¢ory duty of care required by the Trustee Act 2000, in relation to their holding Suitable investments and the need for diversification of inve5tment5 50 far a5 is appropriate to the circumstance5 of the charity. The Trustees. overall iTh￿tment objectNe is to achieve a level of investment income growth which at least matche5 the rate of inflation. while protecting the dlu¢ of the ¢harirfs ¢apital In real t¢rrns. The Trust's investrnents are held in the Sarasin Endowments Fund. whieh aims to provlde long-tern) charity Invesrors wlth sustainable income, while maintaining the real value of the capltal ahd Éntome ftsr thè future. The fund integrates ESG screening criteria to ensure the stewardship of fund5 in a responsible ￿0ballY diversified portfolio. The listed in¥tstmtnt portfolio performance managed by Sarasin & P¥tners was-9.5%12021 10.5%) ynrt their benchmark of 4.9% 12021 13.7%). Income from unlirted investments was £1,56S,099 in 2022 Q021 £2,039,515). The Trustees recognise that particular inves￿¢￿% ri¥k3 arise from laEk of diver5rfiution where 5ub5tantial holdin85 in unquoted companies are donated to the charlty and re￿rted. The Tru5te¢s seek to rnitigate the risks through the¢r board representatior4 as well as by the regular monitoring tsf su¢h invtStm¢nts on r¢¢eipt of publish financial informatlon. K•y management por50nn¢l remuneratlon The Trustee5 consider the board of Trustees as comprising the key mat)agement personntl of the chariry in charge of directing and controlling the charity and operating the charity on a day-to-day ba515. All Tru5teEs yve their urne freety and no Trustee remuneration or expense reimbursemehts were pald in the year. The day-ttrdty operation and administration of the charity ￿ delivered by a Sm￿1 team wSthln John Swlrt & Sons Liml¢¢d Risk manag•m•nt The Trust's Risk Register identifies potentAI risks in key area¥ specifically financial risks. governance. rdnt making and operations and reputation. Currendy. the prlncipal rlsks faced by the charity lie in the perf¢xmance ol it5 investsnents and rf5k5 from ineffective grant makin& The major ri5k5 to which the Trust rnay be exposed, as identified by the Trustees, have been reviewed and. where appropriate. proce$5es and syS￿m5 have been put in place to mitsgatÈ those risks. The varlabllity of qu¢t¢d investment returns is a major financial risk. The Trustees mitigute this risk by retsining expert inve5trn¢nt thvisor% and having a dNersrfi¢d inves￿ent portfolio where p0s5ibl The risk of ineffectNe grant-making Is mltlgated by tarrylng research on charirable institutions to establish whether potential donations wll be used effectyvety and in lurtherance of this charity's own objectives.

JOHN SWIRE 1989 CHARITABLE TRUST REPOR T OF THE TRUSTEES Yw ended 31 December 2011 Reservu pollcy The charity was created in 1989 with a fund intended to P￿de a regular level of tsncome which could be distributed for a wde variw ol charitable purpwe5 It is the Trustees, pulicy not to retain reserve5 a5 the charty'5 overhead5 are low and any deficit on the umrestricted fund can be mec from transfers from the endovanent fund at the <lscretion of the Tru5tÈÈs. At the balance sheet date the balance on the unre5tricÉed reyerves was £551,790 (2021- £839W). Financial position The Trusree3 toTrsidÈred the fiTran¢iAI position to bt Sti5facrory. There 15 54ffiEient fash. incomihg drbnations and investment in¢ome ¢0 merf ¢h¢ ¢)mmitt¢d donatkn$ and tt wntlnu¢ to pro¥fjd¢ support ro their thosen charitsble causes.

JOHN SWIRE 1989 CHARITABLE TRUST REPOR T OF THE TRUSTEES Year ended 31 December 2022 Trustees. responslbllltles In relation to the finantial st*tementJ The Trnstees are responsible for prepar6ng th¢ Tru5t¢e$' report and the financial staternents in accordance with applicable 18w and United KingO)m Accountirkg Standards. The law applirable to charities in En￿and and Wles re9uires the Trustees to prepare financlal statements lor each financixl year which give a true and fair view of the state of affairs of the tharity and ol the incoming resources and application of re50ur£¢s of the chary for that period. In preparing these finantial statements. the Trust?e5 are required to.. selett wltable a¢coUn￿n£ policie5 and then apply them con5iStently. observe the method5 ar¢d principles of the Char¢tie5 SORP. make judgements and accounting estimates that are reasonable and pruden¢ state whethtr ¥pliuble accounting standards have been followed. subject to any departures dixlosed and explained in the financial statements: ahd pr¢pare th¢ finantial statements on the goin¥ concern basi5 uTrles5 It is inapproprrate to presume that the hariw will continue in busine5 The Tr￿stee5 are responsible lor keeping accounting records whKh discbse with reasonable accuracy the financial P951tion of the charity and enable them to ensure that the financial statements compty wth the Charities Act 2011. th¢ Charity {kncount5 and Report5} Regulations 2¢X18 and the provisions ol the Trust deed. They are also responsible for safeKuardng the a55et5 of the charity and hence for taknng reasonable steps for the prevention and deteaion of f d and ot re8ularities. 8 N SWIRE For the Trustees AA fxko&&rf 2023

JOHN SWIRE 1989 CHARITABLE TRUST AUDITORS. REPOR T Y•ar end￿ 31 D•cember 2022 INDEPENDENT AUDITORS. REPORT TO THE TRUSTEES OF THE JOHN SWIRE 1919 CHARITABLE TRUST Oplnlon W• have audited the financil staternents of the john Swire 1989 Charitable Trust (the '<harity) for the ytar ended 31 December 2022 which comprise the Statement of financial actyvitie& balance sheeL Statement ol cashflows and no￿ to the financial statement5. including a summary of si8nfficant accounting policies. The financial reporriTr¥ framework that ha5 been applied in their preparation is applicable law and United Kingdorn Accounting Standard& inchjding Finaneial Reporting Stsndard 102 The Finarcil lieporting Stsndard applicable in the UK and Republic of Ireland (United KinKdorn Generally Accepted kn(o￿nting Practice). In tyjr opinior4 the financial statementk. gsve a true and fair view of the state of the charity'$ affairs as at 31 December 2022 and of its incoming resources and application of resources for the year thers ended.. have been propedy prepared in accordance wr(h United knngdom Generalty Accepted AcctyJntinK Practic< and have bten prepartd l actordaAtt wlth the rtqulrtmefits of the Charitles Act 2011. Basls for oplnlon We conducted our au(frt in accordance wth International 5tand3rd5 on Audityng IUKI {1&45 IUKI) and applicable w. Our responsibilities ursder those 5tsndard5 are further described in the Auditor'5 responsibilities for the audit of the financial staternents section of our reporL We are indepeThdent of the tharity in accordance ￿th the éthical requirements that are relevant to our audit of the financ￿1 statements in the UL includin% the FRC5 Ethiol Standar¢ and we have luffilled our other ethi￿ respon¥ibil¢v¢s in accordan£e che5e requirementy We bdievt that the audit e￿dence we have obtwned is sufficient and appropriate to provide a ba515 for our opinion. Conclusions relatin8 to 8oln8 concern In auditing the financial statementy we have concluded that the trustees, use of the going concern basi5 of accountirbg in the preparation of the financial statements 15 appropriate. std on the work we have pÈrforn)e& we have not identthed any matériaj umcertsinties re￿ting to events or conditlons thal Indvldualty or collectlvety. may cast slgnthcant doubt on the charlry's ablllty to contlAue as a going ¢onrern for a PEriod of ai knst twe￿ month5 from when thè fin￿rIal ¥tar¢ments are authorised for 15511¢. Our respon5ibilitie$ and the responsibifitiex of the trustees rtspett to concern are described in the relevant section5 of this reporL Other lrforniatlon Th other infDfrn3tion tamprises the informatton included in the annual report. other than the financtal ststements and our auditor's repgrt thereon. The trustees are responsiblè for the other inforrnation. Our opinioh on the financSal $tatement5 doe5 not ¢o¥er the other Inftsrmation and we do not expre55 any forni of assuranc co¢lu$10n thereon.

JOHN SWIRE 1989 CHARITABLE TRUST AUDITORS REPOR T Year ended 31 December 2022 In connectyon with our audit d the financial st&tements. our responsiblllty Is to read th other informaotsn aftd. In doinz 50. cor¢sider whether the other inlormatlon is materfally Incon$i5tent with the financial 5tatemenrs or gur kno%rfedge obtained in the audit or othetwise appews to be m2terralty misststed. Ir we identlfy such materl inconsistencie5 or apparent mattr￿1 mi55tatemenfS. we are required to determine whether there 15 a wnaterial misstatement in the financial sratttnents or a material misstatement of the other informatio#. If. based on the work we have perfornied. we conclude that there is a matsrial mis5tst￿ent ol this other Infarmatlon, we are regulred to report that lacL We have nothinz to report in thi5 reTdrd. Matten on whlch w• are r•gulr•d to rtport by ¢xcoptlon We have nothing to report in respett of the follo%￿ng matten In relxtton w whlth the Charitie5 IAccounts and Reports) Regulations 2008 require us to report tr you rf. in our opinion.. the inftsm)atlon Iven in the fifiancial ¥ta¢ements is incon515teiit in any material respect with the tru5tee5' r¢ptsrL or Sufficient accounting re£orth have Trot been kept; or the flnan¢Sal sta￿MentS ar¢ ntrt lft agrttment Mth the accountin8 records.. or we have not received all the Inforniatlon and explana¢lons we reqylr¢ for our audL Responsibilitie5 of trust••s A5 explained more hjlty in the trustees. responsibilities statement set out on page 6. the tnjstees are respanslbl¢ for the preparation of the finanaal statements and for being satisfied that th¢y ￿ve 3 tru¢ aftd fair vl¢w, and for Such internal control a5 the trustees deterniine is necessary to enable the preprxtion of financll ststements th are free Irom material misstatemeni whether dtse to fraud or errtsr. In preparing the financi￿ statements. the truststs are resptsnsiblé for a55e55ing the chariws ability to Continue as going concern. disclosing. as 3pplitble. matters rel¢d tts golng ¢on¢¢rn and using the going ¢tsn¢ern basis of accounting unless the trustee¥ either intend to liquidate the Eharity or to cease operations. or have no realistic altemati¥e but tts do so. Audltoes regponglbllltles for the audlt of the Ilnanclal stat•m•nts We have been aPpoin￿d as au&i¢or under Section 144 of the Charities Act 2011 and report in accordance wlth the Act and relevant regulations made or having effect thereunder. Our objectives are to obtsln reasonable assuran¢¢ alxU¢ whether che financial statement5 a5 a whole are free from material misstatemen¢ whether due to fraud or errtsr. and w ￿su¢ an 4udi¢or's r¢port that includes our opinion. Reasonable assurance is a high level of assurance. but is nor a guarantee that an audit coTrdutted in accordance with ISA5 {UKI will al?ys detect a material mis$taternent when it exists. Mi5Statements can arise from fraud or error and are considered material il. individually or iTh aggrerdte, they could reasonably be expected to influence the econornic decistons of users taken on the basis of these financi￿ statements. Irregularities, including fraud. are instances of non-compliance wlth laws and regulaii¢M5. We dE5ign pr¢¢edur¢s In line t*Ath our responsibilities, outlined above. io detett material rni55tarements in respect of irregularitie5. incluthng frau¢i The extent to which our procedures are ca￿￿e of detecting irregulJritie5. includng fraud is detailed below.

IOHN SWIRE 1919 CHARITABLE TRUST AUDITORS REPOR T Year ended 31 December 2022 W¢ gned an understanding 01 th¢ leD] and regulatory frn¢work applicable to the Eharity by ¢onsld¢rl amonzst other thing4 the sector In which it opErate5, and wnsidered the risk of art5 by the ¢h3rity that Were t<￿trary ro applicable laws and regula￿0￿$, Includlng fraud. We designed audtt procedures to respond to the assessed leyei of risk but recognised that the risk of not detecting a material missraternent due to fraud is higher than the Msk of not detecting one restsltyng from error. as frnud may Invo￿ deliberate eoncealment by. for example, forgery or lntsntl0ft￿ misrepresentations. or through eolltrsion. We focused on law5 and rezulations wthich could Eive r￿e to a rnateri￿ mi55tatement the financial 5tatemerii& iThcludin& but not lirnired to the Charirie5 Act 2011. Our tests included agreeing the financial statement disclosures to undertying supporting documentation, enquiries th management and Ènquiries of third prties. A5 in all our Audi￿ we addressed the risk of rnana8ement override of internal contro15, including testing journals and evluauThg whether there VAS evldence of bias by mana8errnt that represented a risk ol material mi55taternent due rg fraud. There are inherent Ibmita￿On$ ifi the audit procedures descrw above and th¢ further removed non-compliance with laws and regulations Is from the events and transactions refiected in the financlal Sta￿Met￿, the less lskety w• would betome aware of it. We did not Idet)tify any key atsdlt matters rdatirtg ro Irregularities. including fraud. A further description of our responsibilit￿5 lor the audit of the financial Statements 15 located on the Financial Reporring Coun(il's website aL www.frcor&ukJauditor5responsibilitie5. Th￿ de5CriPtivn form5 Part of our auditor'5 repo Ule of our report This report is made solely to the ¢haritYs trurt¢¢5. as a body. in acctsrdance with re8ulations made under s¢¢u¢)n 154 of the Charitie5 Act 2011. Our audit V￿rk ha5 been undertaken 50 that we rn￿t state to the charity. rru5tees those matters we are required to state to them in an auditor's report and lor no other purpose. To the fullest ex¢ent permitted by law, we do not xcept or assume responsibility to anyone other than the charity and the charity's trustee5 as a body. for our wdit work. for thi5 reporL or for the opinioN we have fomed. D￿¢) Wllson Audlt SeThkes LLP. Ststutory Audltor 22 Chancery Lane London WC2A ILS 23 Octobèr 2023 Dixon Wilson SeThI￿￿ LLP is eliwbk to as 3n auditor in ternis of Section 1212 of the Companies Act 200&

JOHN SWIRE 1989 CHARITABLE TRUST ST A TEM ENT O F FINANC IAL ACTIVITIES Y•ar end￿ 31 D•t•mb•r 2022 2012 2021 Unr•strlcted Expendable Income Endowm•nt fund fund Intom• and •ndowm•nts from: Donations Investments 1,625.011 3.129598 2.514.937 2.901.112 2514.937 Total Incomln8 resources 2514.937 1.625.011 4.139.948 6.030.710 Expendlture on: Raising lun& Charitsble act1￿￿$ 85,948 85.948 1802,991 85.069 2J20.577 2M01991 exptndlturé 2001991 85,948 1888,939 2.405.646 Net110ssesVvns on investments Net {ex￿ndIt￿re￿InrOrnQ Net movement In funds (14597,7771 116.597.777) 30.598.903 1288.OS4) 115.058.7141 (15.346.768) 34.223.967 1288.OS4} IIS.058.7141 115,346,768) 34.223.967 Reconcilititsn of funds: Fund balarKe brouKht fprward at I ￿Uary 2022 Fund balance ¢arrhd forward at 31 De¢*nber 2022 839.844 81.279.835 82.119,679 47.895.712 5SI.790 66.221,121 66.7n.911 82,119.679 All amounts are in respect of £ontlTrulng actfvltle 10

JOHN SWIRE 1989 CHARITABLE TRUST ALANCE SHEET At 31 December 2022 2022 2021 Flxed assets.. Investments 64.565.948 80.188.408 64.S65.948 80.188,408 Current assets: Debtors Cash at ballk and In Fhind 23.379 2.423.186 25,906 1.916213 1446.565 1.942.119 Llabllltles: Crediwrs.. Amounts lalling due wlthin on¢ y¢ar 1239.6021 flQ.848) Net cuYr¢rt assets 2.206,963 1.931J71 Total 45s¢ts l•ss curY¢nt Ilabllltles 6&m.911 82.119.679 Ntt assets 66.772.911 82.119.679 The funds of the chJrlty: Expend*￿t eThdowmtnt fund¥ Unre5trirted income fund5 66,221,121 551,790 81279.835 839.844 66,7n,911 82.119.6T9 The financiaT statements on pages 10 to 23 were approv￿ by the board of trustees on were 5i8ned on its behaw br. 11 O¢tobor 1023 and B N SWIRE Trustee

JOHN SWIRE 1989 CHARITABLE TRUST ST A TEMENT OF CASH FLOWS Year end¢d 31 D¢c*mb•r 2022 2022 Tot 2021 Total Net <a$h used in operating actNities (1,0316471 (824.078) Cosh IIM frryn inYe5ting ¢xiwtie& Interert and dividends 1514.937 2.901.112 Purchase of investrnents Proceeds from di5po$al ol inve5trnents Ne¢ cash proyided byl(used inl iThvesting artivityes (975,31 (3508.189) 29.565 1.539.620 (577J12) Change in cash and cash equ￿11￿Trts Cash and rash equivalents brou8ht forward Cash and cash equivaltnts Earried forward 506.973 (1.401590) 3J17.803 1423.186 1.916.213 12

JOHN SWIRE 1989 CHARITABLE TRUST NOTES TO THE FINANCIAL ST ATEMENTS Year ended 31 December 2022 Accountln8 pollcles (a) Basls of preparatlon and assessment of g0Sng concern The flrnclal stsremethts have betn prepared under tht hlstorft cost comlen￿Cn. wbth the exceptK+n that inve5tmeNts n¢￿dIng Ireehold land are Included at rnarket value. The financrdl ststements have been prepared in accordance the Statement ol Retommen&d Practice.. Accoununz and Reporting by char￿e% preparing their accounts in accordance with the Financial Reporring Stsndard applicthe In the UK and Republk of Ireland (FRS 1021 effeard¢ Irom I january 2019 and the Chariue5 Act 2011. The fifiancial staternents are pre5entÈd kn pounds sterllng whkh 15 the fvn¢t1Qn￿ currency of the Trus¢ and T0￿ded ¢0 the nearest L. Thè trus¢ i publlc beThefft enity a5 dehned by FRS 102. The trustees COn￿der that there are no materiil uncertaintyes about the Trust's ability to continue as a goinz concem. There are no ￿8￿rfClnt areas of adiustrnent and key a$sumption5 that affert Items In th account Wth re$pecr to th• next reporung period. the rnost Sqnilicant ¥reas of uncertainty th4t allert the carrylng value of assets held by the TThs¢ are the level of investrnent ret￿rn and the perfomiance of investment markets (see the risk man4ement seetion ol the trus¢ee5' annual report for more knlorniatson). Ib) Fund5 Stru(￿r• The tharity has an expendable endowme¢)t fund crttted by a 8rfL The income ol thb trt￿t ts unrertrfcttd. The terms of th8 indowmert allow the capital ofthe fund to be $pent W the trus￿$ $0 dtternikn& Unre5trithd income fijnds compnse those lunds which the trvsttts are free to use lor any purpose in furthtrathct of tht charittble obiertk Unresrrlcted fund$ Ine]ude desWited firnds where the trustee¥ at th¢ir distrÈtiah. havt treated a fthd lor a specrfic purp05 (c) Income recognltlon All Income Is retognised oNce the thariLy has eTrtitlement to the incorne. r( 15 Probab￿ that the income will be recewl and amount of incorne receivable can be measured re1v4b￿. Donations are recognised wlten the Trust been nOtif￿d in writsni of both the amount Ind xttlemtfit date. Interest on funds held on deposit is includ•d wthen recelyable and the amount Can be measuréd rellbty by the chary,. this is norn)ally upon notifiution of the interest wid or payabk by the Dl¥tldends are recognlsed oncÈ tht dNidethd has been declared and the notifi￿0n has been recelved of the dr¥idend due. Thls Is A¢rnially upon otffita￿èft by the Investment a(fvisor of the d￿ldend yield ol the inYe5trnent portfolio. (d) Exp¢ndlture rKognltlon LIabl￿e% are recogni¥ed a3 eyenditure a¥ s09Th as there is a ktal or eonstrucfft obli8atKin committing the Charity to that eXP￿dIture. 1¢ 15 probable tha¢ s•td8ment will be requlred and the amount of the obl1za￿0Th can be M￿sUre￿ reliabty. Grnnts payable are pyments made to thlrd Par￿e$ kn thÈ lurth¢ran¢¢ of the thafi¢abk obie<ts tsf the TNSL This ts accrued once the reciP￿nt has been Thotrfied of the grant award. (e) Irr•covtrabl VAT Irrecoverable VAT is eharyed ayinrtthe expenditure heading for whlth Ir Incurred. (fj Costs of rnisrn8 funds Th¢ ¢tysts ofgeneravng Iwds Con￿%¢ of inve5vnent rnanyment fee& (81 Support and 8overnance costs The Chrty does not kneur supporE eosrk Govema*cÈ costs cornprvsE all costs inYohTlnK the publK accountab51ity of the charity and its COTnpliance with regulation and good prnctice. Governance (oxs rthte to ¢hari¢able a<uvi¢ie& 13

JOHN SWIRE 1989 CHARITABLE TRUST NOTES TO THE FINANCIAL ST A TEMENTS Y•ar •nd•d 31 Decembor 1022 Aceountlnz pollcles {cortSnu•d) {h} FIX￿ asset Investments Investments are 4 forni of basic financlal Instrument and are initially reco8ni5ed at their tran53ction nlue and subsequent measured at their faSr Ydltse as at thè bahncÈ sheet date uslng tht t105in¢ quat¢d market prite. The statement olllnand actiwtyes includes the ner galn$ Ind losses arislng on revaltsatitsn and d15P05als throughout the year. The Tmst does not acquire puc opuot)4 dertvaoves or other cornplex financ￿1 instrurnent¥ The maln form of fin•t)¢￿1 rlsk ficed by the charty 6$ that of yo￿ti￿v in equiLy markets and invpstment vnarkets due to wider economlc COnd￿On￿ the attioJdE ol investors to ￿Ve11M¢nt ri5l and ¢h¥nges in sentment concerning equN wthin particular secLofs or sub sectgrs. john Swire & Sons knmited ordinary 5h8tP5 are valued 4t the rthaximum price that can be applied to saks be Shareholders. The price 15 proposed at the Annual General Meetfjnk ol the company by the board of dlrectors and approved by the shareholder 1¢ ks ￿1C￿￿ted based on a dividend yield ¢alculatyon and rwiew of clxnparable quoted tompanies. john Swire & Sons knmited preference shares are valued c#) a dlty basls by dNidln8 the coupo by the average yleld of omparable quoted compan￿ scaled down to account for the shares btlng unllsted. Freehold hnd IJ initKIlty me•sured wnsacrion v￿t and subsequenrly rnts5urd at the value a5 t the b¥lane sheet (i) Inve5tsnent galns and losses All 8alns and l¢)sses ire included net h the Statement of Financial Activities as they 3rise. Realised gain5 and losses on Investments are calcuknred as the difference between sales proceeds and their ¢pening carrying or their purrhase ¥aluÈ If ac9uired subsequent to the first ay of the financial year. Unrealised gains and tQS5es are cal¢ula¢¢d as the drfference between th* fair value at the year end and their arrying value. Realised and unrealknd thyestment xaiTrs and losses are combined in the statement of Financial ACtThl￿e Donatlong and leaacles 2022 2021 In specie investments Cash donations 1537.283 1592.315 1.625.011 1.625,011 3.129.598 All donations were attribu¢3ble to the Eypendable Endo￿nent Fund. Investment Income 2022 2021 Investment income cornpri5e3". Income from unlisted se£urityes Incorne from listed 5ecuriue5 Interest on cash deposits Rental in¢ome 1.565.099 943.666 6,017 155 2.039515 861.002 502 93 2,514,937 2.901.112 Investment income in both years was attrtbutable to the Unrestricted Incorne Fund. 14

JOHN SWIRE 198? CHARITABLE TRUST NOTES TO THE FINANCIAL ST A TEMENTS Year ended 31 December 2022 Anal￿1$ of expendltslre on charltable activlties The charity did not undertake any a¢tlvity dire¢¢ty bu¢ met ILS charitable purp05e5 by making donarion5 and &nrrts. Grurtrs mode tt• (horitoble instittrttM> 2022 2021 Abbey Physic Community Garden ABF The Soldiers. Ch¥ity ACE Afrlta {UKI Action for Me Action Medkl Research eUK Air ArnbuLince Charity KenL Surrey. Sussex I Saints Supporter's Trust Ajmshouse Association Alzheirner'5 Research UK Ajzheimer's Society Arthrr(is Research Artists. General Benevolent Institution Ashford Mediation Seyviee Asthma UK Atlant¢c Satmon Trust Backcare (National Back Pain knociatbonl Barn (hA Trust Bat Conservadon Trus¢ B*ttersea Dogs & Cats Home Be Change 8i81$5ue FoundatioTr Blackthorn Trust Bllnd Veternns UK ood Canter UK Breaknng Barriers Br￿hton Sussex Uni Hospita15 NH5 Trust Fund Bristol Owner5 Heritage Trust Brit Leprosy Trust Britain-Australia Society EdKational Trust British Asian Trust British Heart Foundation British LNer Trust British Red Cro$5 8ritlsh Ked Cross (Essex) Brttish Red Cr0$5 (Kent) British Tinnitus A550ciation Brrllen Pear5 Arts BTO, British Trust for Ornitholo uglrfe- The Inyertebrate Conservation Trust 8umblebee Consern￿on Trnst Butterfiy Cgnservation Caldecott Foundation CarnPa1￿ Against Lw%ng Miserably {CALMI Campaign to Protect Rural England (CPREI 15.0th) s.￿0 1.000 10.000 1,000 2,000 35.000 1.000 2.000 25.000 16.OLIg 1.000 si.000 1.000 1.000 5.000 1.000 i Joo 1.000 1.000 1,000 I,c￿0 1.5fX) 25.000 3.000 10.000 25,0(XJ 2S.390 25.C i.ooo 20.IXW) 20.IXIO 1.ooo 1.000 1.000 5.000 25.000 2500 5,000 lo1.￿0 1.000 i.ooo 4.782 5.000 1.000 12&0Q) 30.oc 26.000 1.000 30.(XlO i.or Carried forward 38&390 369.782 15

JOHN SWIRE 1989 CHARITABLE TRUST NOTES TO THE FINANCIAL ST A TEMENTS Y•r •nd•d 31 Decembor 2022 Analysls of expendlture on charltablg artlvltlos (contlnued) 2021 2021 Brou8ht forward 386.390 369.782 Can¢er Research UK Canterbury and DistrKt Samaritans Canterbury Cathedral Tnjst Canterbury Choral Society Canterbury Fe$(￿al Canterbury Food Bank Carefree Carers First Catching tive5 Can¢repoint Chanpng Faces Charitie5 Aid Foundation- Donor Athi5ed Fund Chelsea Physic Garden Company Childnet International Cinnamon Trust Citizens Athfice Bureau in Swale CleaTrupuk Cobbe5 Meadow Combat Stress Communigrow Coronary Prevention Group CPRE Sussex Crundale & Godmersham PCC Cruse Bereavement Care- East Kent & Swale Curwen Priftt Study Centrè Cystic Fibrosis Care Dandelion mme Deal Music alld Arts Demelza House Children's Ho5PlCe Design and Manufacture for Disabiliry (Demand) Dpaul UK Derbyshire Wildlife Trnst Devon Environment Foundatyon Dogs Trnst Dover Boat Trust Fund Dover Bronze Age Boat Trust Down's Syndrome AssoCIa￿ON Durrell Wildlife Conservation Tru5t- UK East Kent Hospir3ls NHS Trust. Mountbatten Easi Kent Sch¢)01s Together Ecobirrnin￿aM EColO￿(al CommunTrty Trust Ehas {Edenbridge Holiday ACti￿tIeS Scheme) Elizabeth Rnn Car EnwTreering Developrneni Trust Epilepsy Research UK Essex Boy5 & Gir15 Clubs E55ex Clergy Charity E55ex Wildlrfe Trust E55ex Yeornanry Association Carried forward 1,000 1.000 55.OtX) 1.000 10.000 15.000 50.000 1,000 10,000 25,000 24,858 52,600 75.0(KI 45.000 10.000 ify),000 25.000 25.000 i Joo i.ooo 10.000 1.000 10.000 25,QOO 8.000 i.ooo i.ooo 3.oots i.ooo 5.000 15,000 1.000 12.500 25.000 6.oc 10.000 10.000 6.￿0 10.000 30.000 75,0 53,7C 3.000 1.000 1.000 50,OCII 1,000 10.000 20.000 10.000 5.000 i.ooo 20.000 20.000 22.136 l.oco 1.000 1.000 1.000 1.009.184 779.282 16

JOHN SWIRE 1989 CHARITABLE TRUST NOTES TO THE FINANCIAL ST ATEMENTS Year ended 31 December 2022 Analysls of expèndlture on charltabh actlvltl•$ (torttlnuttd) 2022 2021 Brought fovward 1.009.184 779282 Famtly Unks Family Trusr Faversham Assistance Centre Fayersham Municipal Chartties Faversham Society Feeding Familie$ FibrOmya￿.a Action UK Firstlight Trust Foundation of The College ol St Georye Friday People Limited Friends of Favarsham Cottage Hospltsl Frien& of Kent Churches Frien& of Lewes Friend5 of The Elderly Frien& of The Keep Archives FrondiTre Future Trees Trust Game & Wildrfe Conseryation Trust Garden Museum Glyndebourne Productlons knmited Gurkha Weffare Trust Hampshire & Isle of W￿t Air AMb￿lanCe Hampshirt & Isle of w￿ht Wildlife Trust Hands of Hope HI￿OW Cricket Club Harlow PCC Hatter Cardovastular Institutè Heart of Kent Hospice H¢brideart Whale & Oolphin Trust Help Mu51cians UK Hope For Tornorrgw H05Pit3J of Stlohn 2nd St Elizabeth Household Division Queen'5 Silver jubilee Trust I Can Charity Instttute Cancer Vaccines & Immunotherapy ICVI Irish Guards Association Irish Guar¢k 8enevolent Fund Isle of w￿ht Food Bank juvenile Diabetes Research FouTrdatson Keep Brirain Tidy Kent Air Ambulance Kent Ass¢xiation for The Blind Kent Community Foundation Kent Multiple Sclerosi5 Therapy Centr¢ Ktnt Nationl G¥den kheme Kent R¢fuge* A¢tlon Network {Krdn) Kent Wildlrfe Tru5f Kent. Surrey & Su55ex Air AMbU￿nce Trust Kidney Research UK King Edward Vll's Hosptsl Carried forvrfard 3,336 10.000 2500 25.000 io.ooo 65.91Tr) 50.0fy) 1.160 i.ooo l.GC 3,000 20.000 10.000 50.000 20.0( 1.0 1.000 1250 i.ooo 1.000 26.000 1.250 10.000 40.000 10,000 10.000 2.0(70 10.ooo 5.000 25.000 I 1.000 21.918 2.000 5,000 5.000 1,000 25,0110 1,000 1.000 1.000 2.000 1,000 1000 1S,CQO i.ooo 31.625 1.000 1.000 224,8QO 20.QOO 10.ooo 5.000 I 1.000 10.O(X) 1,000 1.000 178.000 10.000 10.000 20.(J)O I,￿0 1.000 1.000 1,488.088 l J69.617 17

JOHN SWIRE 1989 CHARITABLE TRusr NOTES TO THE FINANCIAL ST A TEMENTS Year ended 31 December 21J21 Analy51s of expendlture on chJrlt4bl¢ artlvltleg (Contlnued) 2022 2021 BrOu￿t for%￿rd 1.488,088 1.369.617 L'Arche Leighton Buzzard PCC LEPRA - British Lepr05y Relief Associatior¢ Leukaemia League Lon&n Nautical School Lt Colonel's Fund for Irish Guards Maemillan Cancer Support Magye's Maidstone Hosplce Marine Consemtion Society Medical Aid for Palestinian5 IMAP) Menin&'tis Now Mentsl Health Foundation Merton College Myaine Trust Mind Mission to Stafarers Mlssions to Seaman Mont¢ San Marino Trust NtIOn￿ Autlstlc Sotlety Nationl Rheurnatoid Arthritis Society INRAS) National Searrh and Rescue Dog Association National Trust Na¢40nl Tru$t for Scotland New Su55ex Opera Nottinghamshire Wildlife Trust Now Teach (Ark UK Proyarnmes) NSPCC Old EtoTrian Trust Open Door Youth Counselling Ltd Order of St john for Essex Order of St ltshn for Kent Painters Forstal Community knciation Paula Carr Trust PCC gf St Anne'5. Lwes PCC of St Mary Ihe Virgin. Furneux Pelham People Matter Trust People's Dispensary for Sick Animals IPDSAI Personal SeNce Group Pilgrims Hospices PLintlifp Interrwtio￿I Porchlight 10.c 10.ooo 1.000 5.000 1.000 25.000 1.000 2.OCiI I,ocrfJ 2,OCiI 30.OCQ 30,OCQ 15CQ 1,000 S,OCQ 1,000 2,0 25.000 25.0 1,5G 5,000 1.000 25,CilO 2,500 2.500 2500 25.OCKJ i.oc 1.000 1.200 1.000 1.000 I.OG I.OG 5.000 45.000 30.000 1.0 i.ocrf) 24,950 20,0 1,00) I,tYJO 15.QOQ 10.000 10.ot i.oc 5.000 26.000 2.500 30.000 l.ot Prince's Trust Queen Elizabeth'5 Foundation Randorshire Wildlife Trust RAFT (Restoration of Appearance frjnction) Raybd Charters RDA- Cobbes Meadow Reed'5 School Re-Engage Carried forward 1.000 25.0(10 50.000 50.C(10 1.000 15.000 1.840.738 1,665.117 18

JOHN SWIRE 1909 CHARITABLE TRUST NOTES TO THE FINANCIAL ST ATEMENTS Year ended 31 D•c•mb•r 2022 Analysls of expendlture on charltable actlvltl•s (condnu•d) 2021 2021 Brought fonnrd 1.840.738 1.665.117 Refugee Action Rydsn- the Trust for Sports Tetrapleglcs Rosemary Foundation Royal Alexandra & ￿bert Royal AssoCiat￿n lor Deaf PeO￿e IAADI Royal British Legion Royal Brompton & Harefield Hospitals Charity Royal Horricultural Society Royal Humane Society Royal Marsden Cancer Charity Rordl National Institute ol Blind People IRNIBI Royal National Instttute lor Deal People IRNID) Royal Society for the Protection of Birds Royston Yoth Artion RSPB RSPB Scodand I savi￿ Moryem's knnforest RSPCA Rural Cornmunity Council of Essex Sage Gateshead (North Music Trust) Salvation Army Samarit Selling Church Buildings Trust Selling PCC Selling Sports Club Sheffield and Rotherham Imldlife Trust Shine Shropshire Wildlrfe Trust Soil Assotiation Somerset Wildlrfe Trust South Lonth)n Reluge¢ Asso¢iarton South Wight Area Youth Partnershlp ISwyl SSAFA Forces Help St Andrews Church St c￿re Hospice St john Ambulance St john and Sc Elizabeth Charity St john of jerusalem Eye Hospital Group St Mary the Virgin Church Furneux Pelham St Mungo, St Mungo Communlty HouslngAsso¢latkn Still Water5 Stour Mu31C Strand Arts Centre Stroke Association Sunlight Development Trust Sussex Communw FoundI￿On Sussex Hisrgrir Churches Tru5f Sydenham Garden Temple Grove A￿d￿Y Carried forwJrd 50.000 10.000 25.000 1.000 1.000 15.IXIO I,LWO 65.677 10,00 4.500 50.677 i.￿0 81517 25.000 iJoo 25.￿? 1.000 1.000 1500 1500 1.00) 75.000 1,000 91,000 I,oc 50.000 so,000 8MOO 2.500 2500 1.000 10.000 1,000 1.000 5.000 5.000 55.000 15.000 25.000 15 10,0 10.LWO 13500 20.QOO 7500 10.000 15.000 5.000 15.000 5,000 1,446,432 2.006.794 19

JOHN SWIRE 1949 CHARITABLE TRUST NOTES TO TH E F I NANCIAL ST A T EM ENTS Year ended 31 Decemb*r 2022 Analysls of expendlture on ¢harltable artlvltbes {contlnued) 2022 2021 Brought lon¥ard 2.446.432 2.006.794 Thames Rivers Restoration Trust Thanet Community Development Trust The AltitudE Foundation The knber Foundation The Caldecott FoJndatlon The Green Team (Edinburgh and Lgthians) Ltd The Gurka Welfare The Pa553ge The Prince's Trnst The Young Llves Found•tlon Thinkforward UK Toynbee Hall 25,000 I2.(￿0 20.000 20.000 i.￿0 25.ctlo 25,000 iooo 25.O¢KI Tree5 lor Cities Trussell Tru31 Turn2us IEli%ab¢th Flnn Care} University of Lgndon UnNer5ity College Oxford Unlocked Gradua Versus Arthriti5 ¢rorian So¢1 Welle51ey House and SL Peter'5 Court Edu￿119￿?1 Tru Wes¢ Faversham Cornrnunity Associition West Wight Sports & Community Centre Wildfowl & Wetlands Trust Woodland Trust WWF- Mai Po Nature Reserve Yorkshire Dale5 Millennium Trust Yorkshire Wildlife Trust Young Chs$ical Artists Trust Z¢alogltal Soelety of London 25.000 1.0 50.tXIO i.ooo 3.000 5.0( 25.OQO 2.000 25.000 50.oc 15.000 25.000 14.350 25.000 25.￿0 25.000 2JOO TO￿ donador 2,721,282 2252.794 Gmmontt costs ollLXQted to chorit0￿e actitrffie5.' Administration lee ConsultarKY Costs Au¢%tor'5 remuneration Management fee- Lind Bank charges 4.680 n.500 4.201 57 271 3.600 60.871 3.144 57 81,709 67.783 Total expenditure on charitable activities 2.801991 2.320577 Expenditure on tharitabje actiMtie5 in both years wa5 attributable to the unrestricted IrKome Fund. 20

JOHN SWIRE 1989 CHARITABLE TRUST NOTES TO THE FINANCIAL ST A TEMENTS Year ended 31 December 21122 FIX￿ ss•t ln¥￿tmnts 2021 2021 Freehold land Mark¢t end of y¢ar 19,125 19.125 Quotsdlunquotsd Inveitmeblts Marke¢ value at start of year In specie donations Additions at cost Proceeds on thsposal Realised gain on disposal Net unrealised {lossesll8ains on investment assets Market value at end of year Totsl .169283 44554.473 1537,283 3508.189 (29J65) 187 30.598.716 80.169,283 80.188.408 975.317 116.597,777) 64.546,823 64.565.948 Investments have been made in the followlng ¢ategorl¢s of s¢¢uritie& - Quoted investments 25.378206 27,216,477 52.952.806 Unquoted irwesrments 39.168.617 64546023 80.169.283 The historical cost of investments at 310ecember 2022 £33.614.466 (2021 . £32h39.149). The unquoted inves¢ments were ordinary and preference 5hare$ of John Swire & Sons Limited. The largest InvestrnEnts are a holdinK of ordinary shares in john Swire & Sons Limited valued at £37,334.258 12021 £50￿15.565) and a holdinz of units in Sarasin Alpha CIF for Endovrnents at £24,001,10712021- £26,32&2401- The charity is partty reliant on investment income in tht forrn of interest and dr4iden& 8enerated by ihe investsnents held. Net unrealised k)55es on investment assets of £16597,777 P021- ￿Tr$ of £30.S98.7161 were attrlbutable to the Endowment Fund. Dtbtors 2022 2021 Other debtors 23.379 25.906 21

JOHN SWIRE 1989 CHARITABLE TRUST N OTES TO TH E FI NAN C IAL ST A T EM E NTS Year ended 31 December 20Z2 CredltoN: amounts falllng due wlthln one year 2022 2021 Ac£ruals and deferred incorne Chher cre&itors t)onations payable 4,294 210.308 25.0 3.144 7.704 239,602 10.848 Analysls of net assets brtwegn funds Unresthcted Income futhds Expendable Endowment funds Total 1022 Fund balaTrces as at 31 December 2022 are represented br. Investments 64,565.948 64.565.948 Cash and Debtors Credirors 791,392 1239.602) 1.6SS.173 2.446.565 39,6021 Net assets 551.790 66.221.121 66.772.911 R¢conclllatlon of net movement In funds to nrt cash flow from operatlng activitl•s 2122 21121 Net movement in funds Deduct income from investments Deduct gainsladd lo$se$ on srvestments Increase in creditors Detrease Illneresel In debtors Donations in speLie Net cash used in operating activities {15.346,7681 12,514.9371 16.597,777 228.754 2.527 34.223.967 12.901.112) {30J98.9031 2,617 113.3641 (lJ37.2831 (824.0781 11,032,647)

JOHN SWIRE 1989 CHARITABLE TRUST NOTES TO THE FINANCIAL ST A TEMENTS Y•ar •nd•d JI December 2022 Related party transactlons Durlng the year john Swire & Sons Lirnited a company in which th¢ trust88s have a ￿rticiPating iThteresL paid expenses on the chariLy'5 behalf totslling £95.090 (2021 £58.6901 and was repaid fun& to the value of £nil12021 £58.6901. At the b￿ance sheet date, the amount due to john Swire & Sons knmited was £95.09012021- £nill. During the year Swire Charitable Trus¢ a trust in whKh J S Swlre and B N Swlre arè trustees, pald donatioTrs on the charity'5 behalf of £1 10,000 r1021 £nill and was repald funds w the value of £nil12021 £nil). At the balance sheet date, the amount due to s￿re Charitable Trust was £ I10.00012021- £nlll. At thè b￿ance sheet date. the amount due to the IAS 1995 Property Trust- Fund & a trust in which I S Swire aThd N Swlre are trustees, was £5,218 P021 £5,218). During the year. the charity rKeived un¢onditioThal donations frorn famity members of the Trustees of £lA25,{￿O, P021- £1.500.C¥)O) induding gift wd. Dyring the year, the trustees reeeived no emolument5 ty reimbursement of expeThses for their s2rrices 12021- I l. Flnanclal assets and Ilabllltles The followin8 are fsnancial assets that quat￿1 as basic financi￿ Instruments and are Inltially recognlsed at thelr ¢ran5actyoTh value and subsequentty measured at their fair value as at Ihe balance Sheet &te using the closing quoted rnarket price or. for uThquoted investments, Using the valuauon methods in the accounting policy for Frxed Asset Investments". Flmnclal a%sets 2022 2021 Quotedlunquoted b￿estments 64.546,823 80.169.283 64,546.823 80.169.283 23