10 I I,1& Fortoday and fortomorrow Our annual report for 2025 l Myeloma We are the 17 people diagnosed with myeloma in the UK every day. We are the 35,000 people living with myeloma nationwide. We are the carers, the friends, the families, the loved ones, the Support Groups from Glasgow to Guernsey. We are the doctors, the nurses, the researchers, the scientists, providing care and searching for answers. We are the donors, the supporters, the fundraisers and the volunteers, determined to create a better future. We are the Myeloma UK team, whose energy knows no bounds. We are Myeloma UK. Together, we are the cure. Contents Welcome from our CEO Welcome from our Chair About Myeloma UK Launching our new research strategy Preventing myeloma 10 Treating myeloma 16 Living well with myeloma 22 Our fundraising in 2025 26 Delivering on our promises 30 Looking to the future 32 Report of the Directors incorporating strategic report for the 12 months to 31 December 2025 36 Independent auditor's report for the year ended 31 December 2025 46 Annual accounts for the year ended 31 December 2025 51 myeloma.org.uk Welcome from our CEO The theme of this year's annual report-'For today and fortomorrow'_ sums up the determination, ambition and pragmatism that set Myeloma UK apart. We know the future can and must be better for people affected by myeloma, but we also never lose sight of what is needed right now. Focusing on today and tomorrow has defined our progress throughout 2025. *É. Similarly. you can read how we demonstrated both immediate and longer-term impact across all our work. whether we were raising awareness of myeloma with the Race Equality Foundation or putting precursor conditions in Ihe spotlighl, or crucially fighting for access to new innovative treatments lo give people greater control over their myeloma. In many ways 2025 was a foundational year, as we put the building blocks in place to deliver on our organisational strategy. But we refuse to accept that people have to wait for better care and support. and I hope this report make5 clear that we are impalient by nature- and proudly so. That theme is at the heart of our pioneering new research strategy, which you can read more about on page 7. The straiegy sets out how we will use our investment and expertise to drive research forward between now and 2029. Crucially, it makes a new distinction between research funded and designed to find an absolutè cure- when someone is completely free of myeloma forever- and a functional cure- when myeloma cells may still be there, but the condition is undei control and has little Smpact on everyday life. At Myeloma UK we focus every day on preventing myeloma. treating myeloma and helping people live well with myeloma. so we see the progress that is happening. but we also see the many day-to-day Siruggles people face. Thank you for being with us as we confront these challenges head-on, for today and for tomorrow. By approaching research in this way- and by investing more in functional cure re5earch- we will help more people to live longer and better lives today. We're acceleraiing thai journey toward a functional cure and a future of truly personalised medicine with our £1 million research grant and the MyeTRIAL Partnership which YOLJ can read about on page 9. Our work to find that prized absolute cure will continue too. of course. but our community made clear the challenges they face in the here and now. and these must be prioritised wilh fresh vigour. Dr Sophie Castell CEO. Myeloma UK MyeLoma UK Annual Report 2025 Welcome from our Chair We often talk at Myeloma UK about our community: the inspiring and diverse group of people who guide our work forward in so many ways. Their achievements and insights are the foundation of this annual report, and so it seems only right that this welcome should really be a thank you to everybody who has played a part in our progress this year. to Myeloma UK. And I would like to thank Sophie for her inclusive leadership as CEO and the clarity of her vision. Finally, I would like to thank all of the funders and donors who continue to give so generously to our organisation at what continues lo be a hallenging time for many. All of the progress in this report is testament to your kindness. Take two of our key projects from 2025, for example.. our research strategy (see page 71 and our Precursor Framework (see page 111. It is no exaggeration 10 say we eould only create these groundbreaking blueprints because thousands of people affected by myeloma, their family members and friends, clinScians, researchers, policymakers and healthcare professionals shared their experiences and expertise. This report is a thank you and an acknowledgement lo each and every one of you. As our new research strategy succinctly states, 'Together. we are the cure,. It has been a privilege once again this year to see just how powerful the Myeloma UK community Can be. You can also read stories from volunteers throughout the report- those people who gave their lime to offer peer support, to lake part in drug appraisals and lo send out our information. This report is a thank you io you too. Davld Erelra OBE Chair, Myeloma UK It's also a thank you to everyone who works with and for Myeloma UK.. our incredible staff. partners, ambassadors and trustees. As Chair. I would like to say a particular thank you to Geraldine Haley. Alan Chant and Prof. Karthik Ramasamy. all of whom stepped down from our board this year after contributing so generously myeloma.org.uk About Myeloma UK We make it possible to live longer and better lives with myeloma. We're here for everyone affected by myeloma, for healthcare professionals and researchers - and for anyone who wants to be part of the cure. Everyone's experience of myeloma is different, and each person has their own journey. But we're here to make sure no one faces myeloma alone. Every day, together with our unique community, we ensure people affected by myeloma get the support, information and treatments they need. Every time we act together, we increase the pace of change. We're making amazing progress in the research and treatment of myeloma- but we need to go further, faster. With your support, that's exactly what we'll do. MyeLoma UK Annual Report 2025 Launching our new research strategy Together, we are the cure. In May 2025, we launched a groundbreaking new research strategy. building on over 25 years of research success. Since 1997, our investment in research has helped transform treatment and care for people affected by myeloma. Life expectancy has quadrupled in the past 25 years and the number of treatment options has soared. 8Lrt progress still needs to go further and fasler. because people with myeloma can't wait. blood That's why our new strategy sets out how we will use our investment and expertise to accelerate research that prevents. treats and helps people live well with myeloma today. while we keep seeking ways to identify a cure. er. we are he cure Listening to ourcommunity The strategy was created with 1,800 people affected by myeloma and associated onditions. along with researchers and clinicians. They told us what matters most to them.. • Identlfylng a cure for myeloma. Diagnosing myeloma earlier. Finding new treatments to help people live longer. Identifying people with precursor ¢onditions sooner. Representing all backgrounds and experiences. myeloma.org.uk Launching our new research strategy Introducing the future of our research Our strategy took shape as a result of these insights. We know we want to deliver the most benefit for people living with myeloma right now, based on our resources. We also want to make sure every decision is rooted in alleviating pain and suffering. This led us to focus on the difference between research searchingforan absolutecure and research seeking a functional cure: Our research has to deliver for today and tomorrow. Investing only in seeking an absolute cure could limit our focus on delivering a functional cure that could help people today. So our strategy outlined these four goals. which will now shape our research= Focus on flndlng a fun¢tlon31 Cure. Approach re$ear¢h for an ab$olute cure in partner$hip$ with other funders. Have a signrfi¢ant focus on understanding and improving quality of lrfe. Bring together experts from different academi¢ areas to better understand ¢hallenge$ and solutions. • An absolute cure enables people to spend the rest of their lives with no detectable myeloma cells, without being treated. A functional cure is when myeloma cells might still be detectable, bul treaimeni brings the condition under control for long periods and has little impact on everyday lrfe. Myeloma UK Annual Report 2025 The big questions to answer and the importance of personalised treatments As we work to deliver on these goals. personalisation of ireaimenis will be at the heart of our thinking. We have a long way to go until everyone diagnosed with myeloma can access a fully tailored treatment plan. bLrt this is key to improving survival rates and quality of life. So as we ask the big questions- outlined below- about preventing. treating and living well with rnyeloma, peisonalisation will run through all aspects of our research. We remain COTnmitted to clinical trials and are proud to have launched a £500,000 multi-year investment programme with the Clinical Trials Research Unit ICTRUI at the University of Leeds. called the MyeTRIAL Partnership. which will put people living with myeloma in the driving seat of clinical trial design. The Partnership will develop and deliver early phase trials that focus on what matters most to people living with myeloma. Through MyeTRIAL we will tackle the barriers to accessing clinical trials and press for better trial design across the board (read more on page 91. To help prevent myeloma. we will Investigate: Who is at greatest risk of developing active myeloma? In December, we launched the first £1 mllllon research programme of the strategy focused on 'Treatment oplimisation. tolerance and onsequen¢es'. It is essential that we understand why some patients respond better to certain treatments than others. and this new programme will aceelerate the development of personalised medicine and progress our work towards a functional cure. How ean we prevent myeloma? What is the impact ot living with precursor conditions and how can we make life better? To treat myeloma, we will investigate: What Is the impact of living wlth difficult-to-treal myeloma? How do we tallor personalised treatments to give the best outcomes io those with difficult-to-treal myeloma? What does the best treatment look like? Finally. across our research. three prlncipLes will guide our work. We will.. 8e driven by people living with myeloma and be representative of all backgrounds and experien¢es. • Invest strategically to fill gaps and drive the direction of research. How do we reduce the side effects of treatment for all people living with myeloma? To help people live well with myeloma. we will investigate: What is the psychological burden of myeloma? • Partner with those best placed to help deliver our objectives. Delivering on ihis strategy means balancing the need to achieve better outcomes for people in the future with the need to deliver real change now. This strategy development was a defining part of 2025 and will shape our research and impact for many years to come. You can see how it is already influencing our work throughout this report. What are the causes of poorer quality of life for some people with myeloma? Which types of support will improve the wellbeing and quality of life of people with myeloma? myeloma.org.uk Preventing myeloma Imagine a world where myeloma simply doesn't exist. By focusing on earlier diagnosis and precursor conditions that can develop into myeloma, we could accelerate prevention and create a future where farfewer people are affected by myeloma. In 2025, we created a framework for precursor progress, raised awareness of myeloma in new ways and called on politicians to act now. 10 Preventing myeloma Developing the first Precursor Framework Ensure everyone affected by precursor conditions has equal access to comprehensive support. Over the past 25 years we have been Instrumental in delivering transformational change to the care and treaiment of people with myeloma. Our aim is to deliver ihe same change for people living with precursor onditions.. monoclonal gammopathy of undetermined significance IMGUSI and smouldering myeloma. To address this urgent priority. in September 2025 we launched our pioneering Precursor Framework. It outlines what is needed 10 transform research, services and support for precursor conditions- which ultimately could help prevent and even cure myeloma. Make sure patient insights always underpin work guided by our framework. We will now use this framework lo influence and connect with a wide range of policymakers, health professionals. researchers and decisionmakers. This is the tool we need to drive transformational change and map a route to the prevention of myeloma. Through our growing focus on precursor conditions, we're exploring what it means to 1Sve with a precursor condition. how we can Improve diagnosis and deleclion, and what the best ways are lo manage precursor conditions. Building on this, the framework outlines Ihe current siluation and makes a series of recommendations to drive immediate and long-term action. It's time to.. Increase investment and Support for precursor research. Asses5 eurrent evidenee to see whether a precursor screening programrne could be feasible and beneficial. Prioritise clinical trials that could improve how precursor conditions are treated. We have the opportunity to move the dial in the prevention space by exploringfundamental questions in precursor conditions. The framework recommendations are a starting point to drive much-needed conversations and actions forward. Collect and publish data on precursor conditions more effeclively. Put a national model in place to monitor and manage MGUS. Put best practice guidelines in place for monoclonal gammopathy of renal significance. Invest in laboratory diagnostic seTvice5. Professor Graham Jackson. Chief Clinical and Scientific Advisor, Myeloma UK myeloma.org.uk Preventing myeloma *J Co-producing the'Knowledge is Power. campaign Our partnership with the Race Equality Foundation IREFI produced powerful results in 2025. Together, we worked with Black African and Black Caribbean communities across the UK to eo-produee an awareness-raising campaign for Blood Cancer Awareness Month in September. diagnosis. with myeloma symptoms wrongly tinked to ageing. stress or the menopause. Mistrust of health professionals was another issue. Participants described being dismissed. disbelieved and faced with medical jargon. The important role played by family, community and farth was highlighied too. Black people in Ihe UK are two to three times more likely to develop myeloma. But awareness of the cancer in Black communities remains low and diagnosis times are too often delayed. This must change. From early on the co-production group identified that video storytelling would be an important way to engage wilh Black communities. Simone (pictured above). Sophia. Mercy and others were interviewed to creaie a series of short videos, with the co-production group developing the messaging. tone and creative direction for the films. They also produced a series of posters (pictured on the next pagel. designed to be displayed in surgeries and other health and community settings. So. together with the REF. we formed a co-production group. that brought together people living with myeloma, healthcare professionals and community members. io lead the project. The group developed topics for series of focus groups and interviews. People described long and drfficult journeys to get a 12 MyeLoma UK Annual Report 2025 Preventing myeloma The films were launched during Blood Cancer Awareness Month in September. with thousands of people watching them online and on social media. Together with the REF. we also produced a report with recommendations io improve early diagnosis, build Irust, support families and communities, raise awareness and increase representaiion. and inspire far- reaching institutional action for Black people- now and into the future. She added.. -It can be really taboo and some people can be secretive about it in African and Caribbean communities and more traditional churches but there should be no shame or stigma. It's not embarrassing to be ill, things just happen io the body. Il's not always going to work for us." We're looking forward to building on our partnership with the Race Equality Foundation in 2026. guided by co-production - because everyone affected by myeloma should get the support they need. as soon as they need it, and be able to live well for as long as possible. Speaking about the campaign. Simone said: 'I want people to listen to their bodies. If you feel something is off, go gel it checked out. If doctors aren't listening. advocate for yourself. No one else is going to do it for you. Perseverance is key. We only get one body. We only get one chance al life.- She is also hoping that by speaklng out she can help dispel the taboos around cancer in her community. "I was havlng severe pressing pain inside my arm, inside the bone and I wa8108ing weight wlthout actually maklng any effort- Mercy The success of the 'Knowledge is Power, campaign has shown the strength of community-led research in driving awareness and change.. By equipping communities to share knowledge and challenge inequity, we're turning research into action and ensuring progress that lasts. Dr Jahan Foster Zabit, Race Equality Foundation BknCkp•o￿l￿￿ 2-3 tknès mor* Ilkdytod&¥¢fvJpthy*th* 5,1 51 ' Scan thE QR codt ID 1￿m￿L￿* 4bDuI art¥ listen topAw¢*ssityY. myeloma.org.uk 13 Preventing myeloma MWThE WARNING SIGNS Myeloma WIRNIK S Sharing warning signs during Myeloma Awareness Week Back pain. Rib pain. Extreme fatigue. Repeated infections. Those were ihe warning signs our brilliant volunteers Carly, Mel, Mart and Louise described in films that were the centrepiece of our award-winning Myeloma Awareness Week campaign in June. change that. The films lei viewers know what io look out for, and we also used Ihe week 10 encourage supporters to share our symptom Iranslator with GPS. This handy guide lists common myeloma symptom5 in the words people with myeloma use. helping doctors to recognise the Condition. More than 900 people across Ihe UK shared the translator with their GPS, as we kept building knowledge throughout Ihe week guided by our unstoppable community. We had contacted our communily seeking people to share their experiences. As ever, the response was immediate, and all four volunteers even agreed to have yellow warning signs painted on their bodies. showing where common symptoms of myeloma are found. We turned the ￿Yelo￿a warning signs into posters and sent them to more than 1,500 GP surgeries across ihe UK. Look out for our posters when you visit your surgery. We know the signs of myeloma can often be there for a long time before people seek help, and our volunteers were determined to help 14 MyeLoma UK Annual Report 2025 Preventing myeloma Carly's story:"I'm a big advocate for saying 'Be body aware Carly shared her experiences during Myeloma Awareness Week to encourage others to look out for the warnlng signs. Dr Amy Capper. Policy Manager ai Myeloma UK. and Sophie Tinley. member ol the Myeloma UK Advocacy Partner Panel. ai the House of Commons. Probably about a yeor before I was diagnosed. I had just constant. repeated chest infections. They would cleor up for a little while and then they were just bock. I hod UTIS o lor of the time as well. and then the foligue hit. You think of fatigue and you think li￿dneSS. bul it is so much more thon tiredness. My legs were like lead weights. The sloirs felt like I was climbing Mount Everest. It was just not normal. That was when I sold it s time to see the GP. Without me osking for o blood test, it wouldn't hove been caught when It wos. Campaigning for faster diagnosis Myeloma still has one of the longest average times to diagnosis of any cancer, with half of people waiting more ihan five months. Current government targets simply are not working. and the longer people wait, the more likely il is that they experience severe complications, from spinal fractures lo kidney failure. So we asked our community to put pressure on MPS as the government prepared its new ancer strategy for England. The response was incredible. Nearly 2.000 Myeloma UK supporters wrote to their MPS in 2025. asking for early myeloma diagnosis to be prioritised. Letters were sent to party leaders, the Health Secretary Wes Streeting and heallh spokespeople across the political spectrum. AnLI more ihan 30 parliamentary questions were tableLI as a result of the campaign- putting people's experiences of myeloma firmly in politicians, minds. I'm o big advocate for saying 'Be body aware.. Know your normal $0 the second something isn't normol you con go and get it checked. The bit thot surprised me wos how badly it affects your mental health. and that s something I don't think is talked obout enough. I really did suffer in that deportment with hoving young children and having o concer I thought wos going to (oke my life, it wos mossive. Undergoing the treatments is very tough mentolly us much as it is physicolly. My motto. which really helped me through. was 'One doy at a time.. Our campaign followed the publication of the government's new 10-year health plan, which put prevention ai ihe heart of improving the NHS. Now. with the English Cancer Strategy due to be published early in 2026. we'll continue to work with policymakers to make sure specific targets are introduced that will f inally see diagnosis times signrficantly reduced. myeloma.org.uk 15 43 Treating myeloma We know how important it is that people can access the latest treatments and have the best possible care so that they can live well with myeloma. Last year, we turned your evidence into action, driving the approval of new treatments including making the UK the first country worldwide to secure access to BVD for myeloma. These cutting-edge treatments target myeloma in different ways giving people longer remissions. We also celebrated a milestone moment for our hospital accreditation process and built partnerships with the potential to transform life with myeloma. 16 Treating myeloma Winning landmark drug approvals Once again in 2025. we helped convince drug appraisal committees to reverse their initial decisions and secured seven treatment approvals by sharing our community's first-hand evidence. In 2025 we provided evidence for 10 active treatment appraisals. 7 treatment approvals. The National Institute for Health and Care Excellence INICEI initially knocked back IsaVRD on cost grounds. IsaVRD is the first quadruplet treatment for people ineligible for a stem-cell transplant. combining four different drugs. isatuximab ISarclisaO1. bortezomib Ivelcadeffjil, lenalidomide (Revlimidfjil and dexamethasone. to attack myeloma cells in different ways. 2 will continue into 2026. This decision followed good news earlier in the year. when another cutting-edge treatment- which can give people three more years in remission - was approved for the NHS in a world-first. BVD is another ombination treatment. this time bringing together belantamab mafodotin IBlenrepO1, bortezomib and dexamelha50ne. for people who have only had a single line of treatment. Described as a 'Trojan horse,, belantamab mafodotin is an anlibody-drug conjugate, which specifically targets a protein on the surface of myeloma cells called BCMA. This helps deliver chemotherapy straight lo the myeloma cells and flags them for the patients, immune system to kill. There was a limitation though. BVD was only made available to people who havè previously been given the drug lenalidomide. so we are now continuing to work with NICE to widen access. But after that initial refusal. we immediately submitted more data and evidence to NICE'S ommillee, explaining the difference the treatment ean make lo people living with myeloma now and into the future- based on people's experiences in clinical trials. Working with clinicians and the pharmaceutical company behind the treatment, we convinced NICE to reverse its decision. And there was further reason for celebration two months later when IsaVRD was also approved for use in Scotland. Over 3,300 people in England and Wales and a further 250 In Scotland could now have access to the treatment. Clinical trials showed IsaVRD an stop myeloma progressing for five years. making this a truly landmark moment. How belantamab mafodotin IBlenrep@) works Antlbody Ibelantamabl Chemotherapy drug Imafodotinl Myeloma cdl AntitXXJ￿S caryng tre The antitKxYy.thJg The antIb￿leS break down, rdeasirKJ the chermtherapy dwg, whKh kills cell to a [ny￿￿ cdl bytt￿cell myeloma.org.uk 17 Treating myeloma B VD has been shown in clinical trials to give patients remissions of more than three years on average. That's three more years people with myeloma will get to spend with loved ones. More Christmases together. More time to celebrate birthdays or graduations, to watch their children or grandchildren grow up. Only Myeloma UK is fightingfor access in every single myeloma drug approval in the UK because we know that hoving options is key and that no patient should be left behind. Shelagh M¢Kiniay. Director of Research and Advocacy. Myeloma UK Paul's story: '1 feel this treatment has brought the party balloons back." IT By the time Paul was diagnosed with myeloma, the disease was eating away at his bones. After his initial treatment failed and his Cèneer Came baek, Paul enrolled in a elinieal trial for 8VD, one of the combination drugs we successfully campaigned for NICE to approve In 2025. Wlthln weeks, Paul went Into remission. down to six. which is counted as being in remission. My consultant said il s probobly the biggest decline they've witnessed. They soy that the first relopse is more devostoting than the initiol diagnosis ond that s true, Ifound ir quite difflcult to hondle. For o week or two I wos confused obout whot wos going to hoppen in terms of my tretitment plun. That's when I was offered BVD. It gives me quite o lot of confidence in the drugs ond it makes me more optimistic about the future. I've been feeling well in myself ond I'm still quite active - that s whot's importont in terms of your quality of life. Ifeel like this treotment hos brought the purty bolloons bock in the house. It's been omazing. reolly. Within the first two or three weeks, after the ftrst dose, my light chains [0 SAgn of myelomoj wentfrom 1.300 If people don't try ond get Involved in triols. we won't get new treolment options. I Jeel like I'm a porticipant in the luture ol treatment and the decision-makAng process. 18 MyeLoma UK Annual Report 2025 Treating myeloma Jiw Transforming the future for people with high-risk myeloma Myeloma is a very eomplex and individual caneer. In recent years new ireatments have changed lives. Howevei it remains the case that for some people, those with high-risk myeloma that is harder to treat, progress has been harder to achieve. That's why, in 2018, in partnership with Myeloma UK. the Jacquelin Forbes-Nixon Fellowship was created lo fund Professor Martin Kaiser's pioneering work on understanding the genetics of high-risk myeloma at the Institute of Cancer Research. As this initial funding comes to an end, we want to celebrate ihe impau ihis work has had for people living with myeloma. treatment works.. uiira-high risk patients ieceiving an innovative five-drug combination followed by stem-cell transplant saw remissSon times nearly triple and survival rates double compared 10 Standard care. The impact goes beyond one trial. Professor Kaiser's findings have shaped national guidance through publication of a good practice paper with the British Society of Haematology. This publicaiion recommends for the firsi time that there should be genetic testing for all newly-diagnosed patients. This work is paving the way for treatments that not only extend life but reduce treatment burden for those at lower risk. Thi5 research has been game-changing. By analysing data from over 24 clinical trial5. Professor Kaiser identified that some people have multiple high-risk genetic mutations coined ultra-high risk- and that they are the ones most likely to respond poorly to standard treatment. unlocking the path to truly personalised care. His leadership of the OPTIMUMIMUK nine trial proved that tailored As this initial funding Concludes, we celebrate a legacy of progress and a future full of promise. Myeloma UK will continue work alongside Professor Kaiser to champion this vital research including looking at NHS commissioning. Our deepest thanks to the DFN Foundation for making this transformation possible. myeloma.org.uk Treating myeloma of complex treatment options increases. so does Ihe emphasis on living well with myeloma. In this context. CSEP enables hosprtal teams to reflect on their Care. celebrate their strengths. learn from others and identrfy ways lo keep improving. The programme has always put real experiences fir￿. CSEP assessments are underpinned by our Myeloma Be￿ Practice Standards, which were developed with people ￿'Ving Wlth myeloma and their famities. And patient surveys are a fundamental part of each CSEP assessment. Celebrating 10 years of CSEP Uilimaiely, CSEP leads to higher-qualily, patient-focused care. and our ambition is to reach every UK hospital with a myeloma service. Every person diagnosed wf(h myeloma. regardless of their circumstances or location. musl be able to access the best possible level of care. Our Clinical Service Excellence Programme ICSEPI reached its 10th anniversary in 2025. providing a timely opportunity to recognise the programme's wide-ranging impact. Aftei an initial trial with three hospitals in 2015, one in three UK hospitals with a myeloma service are now accredited by CSEP, and that number is growiThJ. CSEP helped us to become more aware of patients. priorities. Most importantly, it opened our eyes to what wos possible. The programme has raised standards of care across the UK, wilh people's experiences at the heart of that change. CSEP raises awareness of myeloma and helps hospitals to share best practice, too. We know demands on hospital teams are consistently growing. As the number Dr Ceri 8ygrave, Con5ultanl Haematologisi. University Hospital ot Wales 10 years of CSEP in numbers: Our HCP Hub has grown by 477 new members in 2025 and 21 healthcare professionals have contributed to community expert pieces. Showing that our HCP Hub is a valued resource for the myeloma healthcare community. 71 hospitals accredited. 26 hospitals reaccredited. 1,730 patient surveys collected. 100 /0 of hospitals said they found CSEP useful. 20 MyeLoma UK Annual Report 2025 Treating myeloma Partnering with purpose Throughout 2025, we collaborated with partners to investigate potential treatments and ensure the voices of people with myeloma were heard. We worked with Cancer Research UK on the IFIT ¢linl¢al trial. This major investigation is exploring how different types of immunotherapy treatment could help people who have been newly diagnosed with myeloma but are not able lo have a stem-cell transplant. Our role is to put the experiences of patients and carers at the heart of the trial. We brought together an advisory group made up of people affected by myeloma, and researchers are engaging with the group lo shape their study and pul people's recommendations into practice. The trial could have a profound impact on care for people who are unable to tolerate the most inlense myeloma treatments. Delivering on our new research strategy Soon after the publication of our research strategy (see page 71, we signalled our intent io drive progress by announcing a new £500,000 investment in early phase trials at the Clinical Trials Research Unit at the Universlty of Leeds which will be known as the MyeTRIAL Partnership. We have also partnered wlth the Unlverslty of Birmingham in a project fundèd by Blood Cancer UK. The team at Birmingham has developed a new low-cost blood test to monitor people wilh non-secretory myeloma. The test is more effeetive and less invasive than the bone marrow biopsies and seans eurrently used. Our Applied Heallh Research Team is collecting people's views on the existing approach 10 monitoring and to the new blood test. We are collecting health professionals. views too. These will help the University of Birmingham measure the potential cost-effectiveness of the test. in the hope il could eventually be used on the NHS. We have worked successfully with researchers at Leeds for many years. funding trials Including the groundbreaking OPTIMUMIMUK nine trial that delivered new treatments for people facing the highest risks from myeloma. In keeping with our new research strategy. the MyeTRIAL Partnership will be seeking to fund early phase trials that look at the most importani issues faced by people living with myeloma. This could be, for example, trials exploring less painful treatments or treatments with a fixed duration. And we will also focus on trials that are accessible to all. because eurrently we know people from minority backgrounds. too often miss Out on the opportunrties ihat Irials create. And Myeloma UK also became chalr of the Charity Medicines Access Coatition in 2025. The coalition brings together 26 charities representing many millions of people. Together. we seek to overcome challenges that delay or prevent patienls accessing medicines. In 2025. our focus was on ensuring that patient voice was represented throughout the Department of Health and Social Care's review of the treatment access process. As we begin developing trials in 2026 and beyond. this funding will play a critical role in fulfilling our research vision to improve and extend the lives of people with myeloma today and tomorrow. by driving innovative clinical search that is developed ai every stage with and fr)r patients. myeloma.org.uk 21 . •4kk I Living well with myeloma By improving our understanding of living longer with myeloma and offering the best support, we want to help everyone live a full life after diagnosis. In 2025, we continued to develop our Peer Buddy service and made our helpline more accessible. ensuring that more people benefit from the full range of our services. 22 Living well with myeloma We also identified areas for improvement. and these led us to four key development ideas.. E-learning for Peer Buddy volunteers. An automated system to maich volunteers with people who join the service. Online scheduling to help buddies book time to meet up. A safe way for buddies to share resources after sessions. Taking peer support to a new level By the end of 2025. we were already working to put these changes into practice. Our aim is to make the Peer Buddy service more accessible for people from every background. because spending time with others who understand can be a critical part of living well- now and inio the future. As we improve our service we are committed to preserving the human touch that everyone involved said was important. We know that when you are affected by myeloma there might be times when you want to be able to talk to someone who understands what you are going through- Peer Buddy is exactly that. Since 2021. our Peer Buddy service has brought people together one-to-one to share experiences and support. In 2025, to make sure that more people can benefit from peer support we ran a rapid-fire research process to understand what we could make better- and how to make it happen. It s been really good just to speak to someone who does understand what you're going through. Itfeels a very personal service. Catherine, supported by a Peer Buddy We interviewed people who have used or volunteered with the Peer Buddy service, and ran a series of workshops with colleagues and volunteers. We were delighted to find out how much people appreciated the personal support they got and how it made them feel less alone. Tony's story highlight wos supporting o mon who was in a very dork place when we first spoke. I tried to encourage him to live his best life wirhin the consrroffnts Ihot he had. Tony was diagnosed with myeloma in 2019. He is now one of our Peer Buddies. Our conversations prompted more actions frofn him in u munageable step-by-step woy. By the end of our time connecting with eoch other, he was getting out of bed earlier in the morning ond preparing soltyds for his wife returning home from work in the evening. I saw a massive cht7nge in him because of our chats. It was a joy to see howfar he had come. I put my name forward when the Peer Buddy servAce was recruiting more volunteers. os I really wanted to help others by sharing nly experience. My personal myeloma.org.uk 23 Living well with myeloma The impact of our support More than 103,000 publications were sent out to people. 99 /0 of people told us they felt less alone after emailing our Ask the Nurse service. 1/ 100 % of people felt less anxious after speaking to one of our Myeloma Information Specialists on the Infoline. Opening up our helpline with 250+ languages We answered 1,584 calls this year, 26 /¢4 of those were first-time callers. As part of our ongolng work to make our support more accessible, last year we partnered with the translation and interpreting service, Clear Voice. Callers to our helpline Can now speak lo us in over 250 languages. As soon as a caller asks to speak in a language other than English, our helpline advisers can now connect with a Clear Voice translator. All advisers were given training last year on using the service and making the conversalion as smooth as possible. "It's another example of our continuous improvement.- Pippa. our Director of Lived Experience & Clinical Practice. explained, "as we evolve our services so that more people can get the right help when they need it. We held 6 in-person Infodays and 92 /0 of those who attended told us they feLt better connected after attending. 24 MyeLoma UK Annual Report 2025 Living well with myeloma Gathering new knowledge of heart disease guidance on supportive care and late effects in myeloma. Initial findings suggest myeloma clinical teams could do more to monitor signs such as high blood pressure and cholesterol. patients could be Signposted to relevant infoimaiion to predict their risk of heart disease, and clinical trials could be designed to ensure cardiovascular data is captured. Led by Myeloma UK, the Chapman-Livanos Survivorship Fellowship was launched in 2023 to explore the posslble Ilnks between myeloma and cardiovascular issues. Our first Chapman-Livanos Fellow. Dr Romi Carriere, spent 2025 investigating whether heart and circulatory problems could be caused by myeloma, or by intensive treatment. or are simply an unfortunate but random occurrence. We will continue to learn from and respond to the results. Myeloma UK has been invited to be part of Ihis process, and we plan io use evidence from the Chapman-Livanos Fellowship to form our recommendations. Dr Carrlere and Dr Sandra Qulnn from Myeloma UK completed a systematic review of current evidence al the end of 2025. They have also collected first-hand experiences of heart and circulatory disease in people with rnyeloma. and hosied a meeting with our Clinieal Insighis Group. We know myeloma is a complex blood cancer. Treatments often have a lot of side-effects and it is challenging for patients to live well. If we can find ways to help them do so, we can ensure they have better outcomes and live well with myeloma. The full impact of this work will come in 2026. But, since meeting, members of the Insights Group have already applied to the Brf(ish Society for Haemalology lo update the UK Dr Roml Carriere. Chapman-Livanos Survivorship Fellow. Myeloma UK myeloma.org.uk 25 rtlc Ourfundraising in 2025 All of the progress in support, ser￿iCeS, research and advocacy that you can read about in this report is powered by voluntary donations, fundraising and gifts in wills. We receive no government or NHS funding. and only exist because of the kindness of people who understand why investment in ending myeloma is so vital and so valuable. We would like to say an enormous thank you to everyone who helped us raise £5,729,657 in 2025. Together with our incredible supporters. we are taking on myeloma- for today and fortomorrow. 26 Ourfundraising in 2025 Conquering the first Myeloma UK Hike A group of 33 heroic hikerstook to the stunning Dorset coastline in September, ralsing an Incredlble £68.000 by battling steep climbs, tough terrain and some extremely unhelpful weather. The epic two-day, 20-mile challenge across the Jurassic Coast was our firsl sponsored hike, and we were delighied to be joined by an intrepid mix of people living with myeloma. their friends and family, and partners from the pharmaceutical industry. Day one saw torrential storms dampen the landscape but not our hikers. spirils. as the determined participants took Ihe tough conditions in their stride. They were rewarded the following day with brighter conditions and clear views across Kimmeridge Bay and Lulworth Cove. before finishing at the iconic Durdle Door. Richard and Yvette's story I heord obout the Jurossic Hike three months before my stem-cell tronsplant, and then used that as afocus and torgel for my recoveryfrom not only the slem-cell rronsplont, bul the whole year of first-line treatment. We'd Ilke lo say a huge thank you to everyone who took part. Your fundraising is already providing vital support for people living with myeloma and boosting our work lo find a cure. The Myeloma Hike will relurn in 2026. Ihis lime in the Lake District, taking place on the weekend of the 18-19 September. My wife decided to join me. It wos o huge chollenge for both of us, but we were both determined to complete il ond olso to raise funds for Myelomo UK. who hove been o greol support lo me from initial diagnosis onwards. Especially valuable were the conversations I have had with nurses on the Myeloma UK Infoline ot crucial ports of my di09nosis ond treatment. It's support thot the NHS doesn't hove time for. The NHS is great at delivering treatment, but Myelomo UK filled o very important gap. The more we leorn ubout the work Myeloma UK does, the more we support it. Taking on the chollenge of the hike was one OI the best things we've done. We got o greot sense of solisfoclion in completing it. and knew we were supporting o great charity. myeloma.org.uk 27 Our fundraising in 2025 Stitching with stamina Hundreds of knitters got their needles out every day in October. taking part in The Big Knit and raising £26,598 for Myeloma UK. The Big Knil was another new fundraiser launched in 2025. The month-long online challenge encouraged crafters across the UK to make a range of knitted creations- including Buddy. our cuddly peer support mascol- and get sponsored for their commitment. Julie's story The chollenge has come al just the right time for me. I was diagnosed with myeloma in August and am still getting my head around it. This will be a welcome distraction and count towards my theropy. I leorned to knit and crochet os o young child (rhonks to my now 90-year-old muml. It s been o little while since I've done either. so I rnay need to brush up my skills o bit. Still I'm relishing the chollenge. Thank youfvr organising this. News of the challenge spread fast on soclal media. and hundreds of knitters joined our Big Knit community. including many who were learning about Myeloma UK for the first lime. The event raised £26,598 and we loved seeing people's stupendous stitching throughout the month. Thank you to everyone who joined in.. you're woolly wonders. As two decodes have possed, my sister ond I hove moved to North London and Hertlordshire, where we continue to raise awareness obout myelomo within our community. A(7rti is now a nulritionisl, and I am a secondary school teocher. Despite our professional pursuits, we both share a lifelong passion for Indian dancing, o beoutiful ortform we begon leorning ot the tender oge of six. Remembering Premila Twenty years after Premlla Bhanderl lost her Ilfe lo myeloma, her daughters Jyoll and Aarli Bhanderi Shah hosled a dance festival to celebrate her life. Jyoti shares how a whole community of women came together to raise funds in a wonderful tribute to Premila. As a hobby. I run o dance group with over 45 members. Jocusing on Bollywood and Bhangra dancelitness. To commemorate our mother's 20-year anniversary. we decided to host a dancefe5tival thot showcosed o voriety of styles, including Zumbo, Bollywood, ond Gorba. The event, held in Potters Bar. Hertfordshire, srJw the participation of 50 enthusiostic It7dies ond successfully raised over£l.200. Ihonks to the generous contributions of friends ond family. We're so grirteful to everyone who took part. We were deeply saddened by the loss of our mother, a dedicated pharmocy owner ond the first-ever local councillorfrom our community. who served her ward in Osterleyfor 77 remarkable years. Premila was a pffllar of strength. 28 MyeLoma UK Annual Report 2025 Ourfundraising in 2025 Fundraising in numbers An incredible 2,362 people played our lottery, every single one of you is a winner to us. 142 wonderful people used their special celebrations including birthdays, anniversaries, weddings and retirements to fundraise for us. Their act of kindness raised an amazing £76,083. A phenomenal 568 people pushed themselves to take on a challenge event including the London Marathon, Great North Run and Challenge 30, raising £743,107. 346 super supporters powered their own fundraising events, from bake sales and dinners to daring head (or eyebrow) shaves, raising an amazing £596,934. Our first ever crafty fundraiser, the Big Knit, raised £26,598 as well as creating a wonderful online community and hundreds of wonderful knits. 32 people left a gift in their will adding up to an incredible £1,625,381. 144 families set up an online Much Loved Tribute page to celebrate the lives of their loved ones and helped to raise £103,797 and hundreds of supporters gave and donated in memory of a loved one. myeloma.org.uk Delivering on our promises Throughout 2025, we made significant progress for people living with myeloma. Here is how we've delivered on the promises we made in 2024: Preventing myeloma We delivered our Precursor Framework. defining the actions needed to ensure better research, support and treatment for conditions like MGUS and smouldering myeloma. We published our new research strategy. which set out how we can most effectively support people affected by myeloma and precursor conditions. now and in the future. We set out how to improve the diagnostic pathway. including for people with high-risk myeloma and under-represented groups. and this work will continue into 2026. Treating myeloma We launched our new clinical trials investment programme. the MyeTRIAL Partnership, with the Universf(y of Leeds. seeking to support early phase Clinical trials with potential to impact lives now and into the future. We spoke to hundreds of people in the next phase of our research into unmel and emerging needs. and we are analysing how this can inform the design and delivery of future Irealmenl. care and support. We put forward evidence from people living with myeloma into every myeloma treatment appraisal al NICE and SMC in 2025. resulting in seven new treatment approvals. Living well with myeloma We made our services more accessible, reaching a more diverse range of people through our translation service, our partnership wilh the Race Equalily Foundation, and Peer Buddy expansion. We put people living wilh myeloma at the heart of developing new services by bringing members of the myeloma community and Myeloma UK together in a series of dedicated workshops to design and ShOrt￿St our next generation of support tools. We used our research strategy to investigate how we might reduce toxicity in treatments. myeloma.org.uk 31 Looking to the future To make today and tomorrow better for everyone with myeloma, in 2026 we will: Preventing myeloma Reach more people affected by myeloma by developing empowered community Connectors who will help to spread the word about myeloma and Myeloma UK through our "Knowledge is Power" campaign. Reduce avoidable late diagnoses of myeloma and AL amyloidosis by developing our Precursor Management Model. It will ensure people living with MGUS receive appropriate support, and will include a comprehensive approach to the monitoring and management of MGUS. Treating myeloma Publish a vlslon for a patient-centred treatment access system- from equitable access lo clinical trials to more flexible rules about eligibility for treatments. Award the firsi of our £1 million research granis which will support research to better understand how Ireaimenls can be optimised and how to better predict tolerance to Irealmenl. This is an important first step lo our commitment to pursuing a functional cure. Drive better access to the most effective new treatments by ensuring approved treatments are available lo everyone. wherever they live. We will push for stronger evidence and greater prioritisation of quality-of-life outcomes in drug approval decisions. and secure more timely data on how many people are being treated. with which medicines. and how well Ihe5e treatment5 are performing. Strengthen engagement on the Myeloma UK HCP Hub to build a vibrant. dynamic UK-wide network of myeloma professionals, acceleraling knowledge-sharing. and improving bolh clinical practice and the experience of people being treated for their myeloma. Grow the impact of CSEP through targeted expansion of our hospital acereditations so more people can receive excepiional care and treatment for myeloma. 32 MyeLoma UK Annual Report 2025 Living well with myeloma Launch FLOW. our new pathway to support people living well with myeloma. Shaped by people living with myeloma it will mean people can find the right support when they need it. Continue to expand our Peer Buddy programme with a particular focus on increasing diversity, meaning more people will benefit Irom crucial peer support. Evolve our clinical education programme. enhancing our existing Myeloma Nurse Learning Programme lo better support nurses to deliver the best care. information and treatment so that more people can live well with myeloma. Develop a lived-experience steering group to shape and drive our work. Ensuring that we are always led by the needs of people affected by myeloma. myeloma.org.uk 33 Our people In 2025. colleague learning and development remained a key priority, marked by the Laur)ch of a new learning programme. A series of workshops was introduced to support colleagues in getting the best from themselves and others. improving ways of working. and fostering a more inclusive working environment. This programme has strengthened our ability lo perform at our best. supporting delivery of our strategy.. Together. we are the cure. wellbeing. Engagement levels have remained high. and we have continued to invest in our people and culture strategy to strengthen our offer io both colleagues and volunteers. The introduction of a new colleague committee. alongside a Diversity. Equality. Inclusion and Belonging Committee. has ensured that Colleagues. voices are embedded in decision- making, Communication, and ways of working, supporting ihe development of a more diverse and Sncluslve workforce. Wlthln our volunteer community. insights from 2024 and a volunteer feedback survey conducted in early 2025 informed the development of a targeted programme ol activity. This focused on enhancing our volunteer offer. strengthening engagemeni. Ind building ihe Capability of those who manage our volunteer communities. Throughout 2025 and into 2026. our focus on strengthening our volunteer offer continues io build momentum. We remain committed io providing meaningful opportunities for our volunteer community to support Myeloma UK. We thank all our colleagues and volunteers for their continued dedication to helping people affected by myeloma live longer and better lives. Our approach was further supported by the continued evolution of hybrid working. providing greater flexibility for colleagues to focus on outcomes while 5UPPOrting their 34 MyeLoma UK Annual Report 2025 Partnership working 2025 Durlng 2025. we worked In partnershlp wlth a rango of oryanisations and individuals who joined wilh us to go further, faster for people affected by myeloma. The myeloma community were at the heart of our progress in year two of our strategy. People affected by myeloma volunteered Iheir time to support our patient information panel. advocacy partner panel. paiient and carer research panel, research advisory group, early diagnosis programme, and precursor round table meetings. They were joined by leading healthcare professionals in the UK and inlernalionally who gave their time and insights into. amongst other programmes. the precursor round table discussions. the HCP Hub. and the researeh advisory group. These programmes have the potential 10 transform patient experience, diagnosis, and treatment and would not have been possible wilhout the generosity of the clinical and non-clinical research communities. Our thanks must also go all the clinical teams in our CSEP accredited hospitals in 2025. CSEP a¢¢reditation is a Ihorough and extensive process, and these leams gave extra time to ensure they give Ihe best possible experience to people affected by myeloma. 2025 also saw great progress in our work to grow how we reach and support more people in the Black British and Black Caribbean communities. Our partnership with the Race Equality Foundation continued and grew into the creation of a co-production group that included people with lived experience of myeloma alongside healthcare professionals. We also continue to work with National Voices and thank them for all their support. We are hugely grateful to everyone contribuling insight and analysis to ihis important piece of work. We are delighted to continue our work wr(h the UK Myeloma Society IUKMSI and UK Myeloma Research Alliance IUKMRAI as we jointly support the development of new clinical trials, and the provision of patient access to new treatments and new treatment combinations. We are proud of the accreditations our work holds. and we continue lo be members of the Association of Medical Research Charities IAMRCI and Ensuring ValLJe in Research IEVIRI. to promote investment and support value and best practice in clinical research. We secured our 21st year of accrediiation with the Helplines Standard. a national standard that defines and certifies best practice, and we secured our Patient Information Forum's Trusted Information Creator mark. a European- assessed quality mark foi online and printed information. We partner with pharmaceutical and diagnostic ¢ompanies and require that all our partners are committed to working in a responsible, transparent. and accountablè way. We expect our work with these partners to be based on achieving clear, patient-focused objectives. We remain gratefLtI for the work they do in ensuring that clinical trials can be developed to help people access new Ireatmenls and therapies. We remain committed members of the Blood Cancer Alliance. Cancer52. the Scottish Cancer Coalition. the Wales Cancer Allianc and the Northern Ireland Charities Coalition. We are privileged to hold the Chair of the Charity Medicines Access Coalition ICMACI representing 25 health charities and millions of people across a range of disease areas. We are proud io use our expertise in medicines access to champion the needs and priorities of patients in blood cancer and beyond. and will continue to do so in 2026. myeloma.org.uk 35 Report of the Directors 36 MyeLoma UK Annual Report 2025 Report of the Directors incorporating strategic report for the 12 months to 31 December 2025 Financial review Despite a challenging external environment. we delivered strong financial performance this year. underpinned by continued growth in fundraised income and effective Cost management. we continue to ensure that every pound is used to deliver maximum impact for the people and communities we support. This momentum reflects the strength of our long-term strategy and impact of the investment in our fundraising capabilities, which has helped us navlgate external pressures with confidence. Supported by a robust balance sheet and the ongoing commitment of our supporters. we are entering the year ahead from a position of stability and optimism. even as wider market conditions remain uncertain. During the year we generated income of £5.8m and incurred operational expenditure of £6.6m. resulting in a deficit of £899.01212024: deficit £1.053.544). favourabie to our budgeted parameters. £6.6m £5.8m 71p £1.7m Our income for the year was £5.8m Our expenditure Our expenditure From every £1 on meeting on research of expenditure, the needs of totalled £1.7m 71p was spent people affected on improving by myeloma the lives of was £6.6m people affected by myeloma myeioma.org.uk 37 Report of the Directors incorporating strategic report for the 12 months to 31 December 2025 (continued) Financial review (continued) Income Expenditure breakdown Community engagement £1.5m Total income for the year was £5.8 million 12024.. £5.5 million). Overall our voluntary income performed well bringing in £4.6m 12024.. £4.1ml. Legacies delivered £1.6m 12024.. £1.Oml, demonstrating the return on our investment in this area. Raising funds £1.9m Total expenditure £6.6m Income breakdown £1.7m Research and Advocacy Fundraising activities and events £1.1m £1.5m Interest and other income £32k Lived Experience and Clinical Practice Other £7k We continued to operate efficiently and effectively. For every pound we spent on fundraising. we generated £3.80 of income 12024.. £3.10). In addition. for every pound spent overall. 71p was available to support our charitable activities12024'. 67pl. £45k Research and development Total income e5.8m £4.6m Donations, grants and legacies Funds Our Statement of Financial Position shows that we are in a strong position with a current ratio of 6.01.'1112024= 4.6.'11.. this position is largely attributed lo significant investments and bank balances which are held in anticipation of funding our research strategy Isee note 211 and investment into our strategic plan to 2030. We are deeply grateful for the generous and ongolng support of all our donors and partners. Your commitment means even more at a timè when many people are facing their own financial pressures. Éxpenditure Reserves pollcy Our expenditure for ihe year was £6.6m overall12024.' £6.9ml, a clecrease of £309k on the previous year. The main decrease of £362k relates to prior years. investment in strengthening our fundraising capability and capacity, in preparation for delivering our new strategy. The main increase of £282k reflects the expansion of our lived experience & clinical practice services. As at 31 December 2025 total reserves were £6.8m12024'. £7.7ml.' the total free unrestricted reserves net of fixed and intangible assets was £6.7m12024- £7.6ml. Reserves are split between restricted, designated and general reserves as follows: l Ratio of Current Assets to Current Liabilities 38 MyeLoma UK Annual Report 2025 Report of the Directors incorporating strategic report for the 12 months to 31 December 2025 (continued) Financial review (continued) Restricted Reserves, £96k (2024: £126k) This represents funds that have been received to fund research or specrfic projects. further details of these reserves are provided in noie 22. We continue to hold an appropriate level of general reserves to manage external variability. We are actively reviewing how these reserves may support future strategic inve5trnent in our research programme, which will be further defined throughout 2026. We expect to provide an update as our plans progress. Designated Reserves, £3.2m (2024.. £4.7m) This is comprised of a reserve designated for research purposes of £O.Sm12024.' £0.5ml, a reserve designated for grants payable ommitments of £0.3m 12024.. £0.5ml and prudenl reserve of £2.3m12024'. £2.2ml which represents 6 months of salaries and overheads eosts for the organisation (see Note 221. Investment policy The organisation has a responsibility to its supporters. donors and other stakèholders to utilise its funds for its charitable purpose and to use ihem with efficiency, effectiveness and economy. Appropriate and regularly reviewed processes and procedures are in place to safeguard the organisation's assets, with the Reserves Policy defining the amount of funds available for inveslmenl and the Investment Policy Statement defining the terms on whieh those available funds are invested. The Investment Policy Statement specifies all of the relevant factors such as the organisation's Investment time horizon, oblectives, attitude to risk and capacity for loss. The organisation's investments are stated at mid-market value at the balance sheet dale and are managed by Navera Investment Management. The Statement of Financial Activities includes the net realised and unreali5ed gains and losses arising on revaluations during the year. General Reserves, £3.6m (2024: £2.9m) Our new strategy commenced in January 2024 and is now progressing through its second year, with delivery continuing through io December 2030. It provides a framework that enables us to prioritise and meet the existing and emerging needs of people affected by myeloma. Over Ihe past year, we have continued to invest in Several initiatives designed to supercharge our fundraising activity. increase our research capacity. and expand our service provision. all to ensure our future growth is funded in a planned and sustainable way. This year we used the remainder of the previously earmarked designated reserve to support this strategic investment programme. As planned. Ihese investments have continued lo reduce our total reserves, reflecting our intention to deploy funds now to aceelerale long-term impaci and growth. Following the global economic downturn in 2025. our investment porttolio is ending the year with an unrealised Ios5 of £147k. The portfolio Tnanagers. strategy is focused on companies with strong quality-growth characieristics, which have unfortunately been out of favour in ihe current market environment. We anticipate a return to more stable and typical market conditions should provide some recovery. We will conlinue to monitor performance closely. Our policy remains to maintain a designated reserve covering 6 months of operational expenditure. We also remain committed to funding research. wilh our current research portfolio £0.5m12024 £1.Oml including commitments across several programmes such as translaiional and genetics research at the ICR. and grants exploring prevenlion and earlier diagnosis al the University of Birmingham and University College London. Further details of these commitments can be found in Note 21. myeioma.org.uk Report of the Directors incorporating strategic report for the 12 months to 31 December 2025 (continued) Risk management During 2025. Myeloma UK completed a comprehensive review of ils approach to risk management. resulting in the development of a refreshed Risk Management Policy (the Policy) and a new Risk Managemenl Framework IRMFI. This project strengthened our organisational risk management culture by setting out a clearer, more consistent approach to identifying, assessing. and responding to risk across all areas of our work. This enhanced framework has strengthened our ability to anticipate and respond to key strategic risks. supporting long-term sustair)ability and impact. Table 1 provides summary of the key strategic risks identif led and the steps taken in 2025 to manage ihem: The Policy outlines our commiimenl lo effective and consistent risk management, defining the principles that guide our approach and setting expectations for colleagues. trustees. and volunteers. 11 establishes how risk management supports strategic planning, decision-making. and operational delivery. and reinforces our aim to maintain a culture where risks are openly discussed and proactively managed. Complementing the policy. the RMF provides the practical tools, processes. and governance arrangements needed to implement this approaeh. It explains how risks are identified, scored. and monitored, and how eonirols are designed io miligate them in line with our defined risk appetite. Together, the Policy, RMF, risk regisiers, and risk appetite statements form a holistic system that promotes organisalional resilience and effective use of resources. Our governance structure ensures sirong oversight. The Board retains ultimate accountability for risk management and maintaining an effective system of internal control. The Finance and Audit Committee IFACI conducts detailed scrutiny of the corporate risk register, reviews internal controls and assurance processes. and reports to the Board at every meeting. Committees overseeing individual directorates review risks within their areas, conducting deep dives and feeding significant issues into the FAC. 40 MyeLoma UK Annual Report 2025 Report of the Directors incorporating strategic report for the 12 months to 31 December 2025 (continued) Risk management (continued) Table I: Myeloma UK Key Rlsks Risk Mitigating Action Loss of advoeacy influence due to Mitigation focuses on defining the organisation's changes in the external policy landscape advocacy risk appetite. regularly reviewing the or reputational damage. effectiveness of policy and HTA submissions, and assessing overall advocacy impact. This is supported by benchmarking the oiganisation's approach against peer organisations, maintaining up-lo-date stakeholder stewardship plans, ensuring external communications remain aligned with organisational objectives. and coordinating closely with Fundraising to manage any potential reputational implications. This includes reduced access to key decision-makers across Government. NHS bodies, regulators, or industry whether caused by organisational restructuring le.g. changes to NHSE. NICE. DHSC roles) or by public challenges made by the organisation that negatively affect stakeholder relationships and industry engagement. Data breach risk arising from external third-party cyber incidents. including ransomware attacks or digital extortion attempts. Mitigation includes maintaining strong cyber-securlty practices through colleague training. insurance cover. and centrally managed system updates and protections. Regular data backups. continuous network monitoring via our strategic IT partner, and enforcing multi-factor authenlicalion collectively reduce vulnerability to external breaches or ransomware threats. Our Sustalnablllty and ESG Development Journey To support this, we have established a clear roadmap for embedding ESC reporting across the charity. This includes the development of key performance indicators aligned with the United Nations Sustainable Development Goals. the introduction of structured monitoring processes. and plans to build ESG reporting into both our internal management accounts and future annual reports. During the year. Myeloma UK has strengthened ils commilmenl to environmental. social. and governance IESGI responsibility by developing our first organisational Sustainability Policy. This policy sets out our long-ierm approach 10 integrating sustainability into our operations, decision making and organisaiional culture. We also recognise that sustainabilily extends beyond environmental consideralions. We continue to promoie equality, diversity and wellbeing across our organisaiion. and remain committed to ensuring thai ihe voices an(1 experiences of people living with myeloma inform our decisions. priorities and activities. This work represents an important step in our journey towards improved transparency. responsible resource use. and long-term organisational resilience. A5 we progress, we will continue to refine our reporting, engage colleagues and stakeholders, and ensure that sustainabiltly remains central to how we deliver impact for everyone affected by myeloma. myeioma.org.uk 41 Report of the Directors incorporating strategic report for the 12 months to 31 December 2025 (continued) Risk management (continued) Grant making policy Organisational $tru¢ture All research grants awarded are subjected to a strict peer review process by various independent panels. The grant award process is in accordance with the Association of Medical Research Charities IAMRCI guidelines of which Myelorna UK is a member. Working closely with the Chief Executive Officer. our Directors assume responsibility for the governance of the organisation. the setting of strategy.. approval of budgets- financial planning- risk planning and investment strategy. All other tasks are the responsibility of the Chief Executive Off icer. who at the year-end was supported by the Executive Directors and a team of 87 colleagues. Details of our Direciors Iduring the 12 months and up to the date of this report) are available on page 44 under Company Information. Whilst Directors are elected at the organisation's Annual General Meeting or are co-opted during the year, they have no financial interest in the organisation. Each director is formally inducted and is provided with relevant information on the objectives and aims of Myeloma UK. Golng concern Our financial position has remained strong throughout the year. We believe our operating model continues to be cost effective and robust. with ongoing efficient and effective delivery of our programmes ènd good initial progess on the new strategic plans. As we progress our strategy, we will continue to develop and improve services for our users. The Dlrectors considered whether it remains appropriate to prepare the accounts on a going concern basis. and whether there was any material uncertainty relating to going concern. The Directors have reviewed the five-year financial plan to Deeember 2030 including scenario analysis. stress testing of key assumptions, and risk mitigation proposals and found these to be robust. The level of free reserves on 31 December 2025, iogether wf(h the posf(ive outlook for the strategy period, provides the Directors with confidence that Myeloma UK has sufficient resovrces to continue to operate for at least Ihe next 12 months. These accounts have been prepared on a going concern basis. An induction programme is in place to ensure new Trustees quickly develop a strong working knowledge and understanding of Ihe organisation. Tiustees also participate in Ihe annual 8oard Strategy Day, where they have the opportunity to meet colleagues and gain deeper insight inio the charity's work. In addition. we operate an annual review process that enables Trustees to meet individually with the Chair to discuss learning needs. development opportunities. and ongoing support. There are five sub committees of the board dealing with various areas of charitable activities and governance.. the Finance and Audit Committee. the Nomination5 and Goveinance Committee. Research. Clinical and Advocacy Committee, Income Generation, Communications and Brand Committee, and Lived Experience Committee. Governance, structure and management Incorporalion and commencement- Myeloma UK was registered as a charity on 8 April 1997: it is a charitable company limited by guarantee (company Number SC1905631 incorporated on 23 October 1998. It is allowed to dispense wilh the word 'limtied" in its trtle. The organisation is governed by its Memorandum and Articles of Association and is recognised as a chartty (Scottish Charity number SC0261161. The Finance and Audit Committee 15 responsible for overseeing operations including the consideration of budgets, treasury and reserves managemeni, risk management, and planning. 42 MyeLoma UK Annual Report 2025 Report of the Directors incorporating strategic report for the 12 months to 31 December 2025 (continued) Risk management (continued) The Nominations and Governance Committee is responsible for ensuring that the Board is comprised of members with the highest level and appropriate mix of skills and experience and HR matters. the sector. The Board will take advice from officers which includes the benchmarking of salaries and evaluation of terms and conditions before reaching any decisions. Myeloma UK is committed to a policy of equal pay and aims to ensure that salaries reflect knowledge. skills. behaviours and capabilities required for satisfactory performance in each role whilst also demonstrating appropriate use of haritable donations. Decisions on all other olleagues salary levels are delegated to the Chief Executive Officer. with the Finance and Audit Committee considering the affordability of any proposed annual and incremental pay progression through the yearly budget setting cycle. The Research. Clinical and Advocacy Committee supports the Board in ensuring Ihat the research. advocacy and programmes are aligned with our research strategy of high scientific quality and deliver expected outcomes. The Income Generation. Communication and Brand Committee's aim is to provide guidance and oversight of fundraising and communication aetivilies and practices. Finally. the Lived Experience Committee ensures that the voice of people living with myeloma is reflected in our programmes and projects. as well as monitoring of our safeguarding matters. Co￿PeratIon In pursuSt of charltable obJectlves In pursuit of our objeetives we eo-opèrate with and partner a number of organisations including the Department of Health and Social Care, the National Institute for Health Research, the Scottish Medicines Consortium, the Assoclalion of Medical Research Charities, the Blood Cancer Alliance and other relevant coalitions, networks and groups including other myeloma organisations. There are also four groups and panels which are advisory in nature and do not have the authority to act for or bind the organisation. Their aim is to provide the Chief Executive Officer and Board with additional advice on the development, review and implementaiion of ihe organisation's straiegy in their respeciive areas of expertise. Remuneratlon Pollcy The Board is responsible for considering matters of pay and reward. pensions. volunteering. wellbeing. diversity. and culture. The Nominations and Governance Committee reviews the Chief Executive Officer's performance and advises the Board of Trustees on suitable objectives for the Chief Executive Officer. The Board of Trustees approves both the salary for our Chief ExecLJtive Officer and our pay structure. Roles are evaluated before being placed in a grade and we regularly lest a sarllple of roles against pay rates Iri myeioma.org.uk 43 Report of the Directors incorporating strategic report for the 12 months to 31 December 2025 (continued) Company Information Directors The Directors who served during the year ended 31 December 2025 and upto the date of signing were: Auditor Henderson Loggie LLP The Siamp Off ice, Level 5. 1(F14 Waterloo Place Edinburgh EH13EG David Ereira Ichairl Alexander Montgomery (Treasurer) Andrea Abrahams Deborah Lancasier Dr Fenella Willis Polly Hughes Rachel Snow-miller Dr Neil Keith Rabin IAppointed 03 April 20251 Paul Brocklehurst Karen Paul (Resigned 07 March 2025) Dr Karthik Ramasamy (Resigned 03 April 2025) Alan Chant (Resigned 03 April 20251 Geraldine Haley (Resigned 03 April 20251 Sarah Henshaw (Resigned 17 Moy 2025) Legal Advisers Morton Fraser Quartermile Two 2 Lister Square Edinburgh EH3 9GL Turcan Connell Prinees Exchange l Earl Grey Street Edinburgh EH3 9EE The Executive Directors. along with Chief Executive Officer are the key managemenl personnel of the charity. Prlnclpal Bankers The Royal Bank of Scotland pl 2 Bernard Street Edinburgh EH6 6PU Executlve Leadershlp Team Chief Executive.. Dr Sophie Casiell Director of Strategy. Communication and Brand- Jo Nove Director of Lived Experience and Clinical Practice.. Pippa Foster Director of Research and Advocacy: Shelagh McKinley Director of Fundraising.. Matt Wynes Director of People and Culture.. Barry Dow Director of Finance & Company Secretary- Gillian Hentges (Appointed 07 April 20251 Acting Director of Finance & Company Secrelary- Aleksandra Hadden (Resigned 06 April 2025J Chief Clinical and Scientific Advisor.. Graham Jackson Investment Managers Navera Investment Management Riverside House. 2a Southwark Bridge Road London SE19HA Indemnity insurance The charitable company mainiains liability insurance for its directors and officers, which is qualifying ihird party indemnity provision for Ihe purpose of the Companies Act 2006. The indemnity insurance was in force throughout the financial year and remains currently in force. Regl$tered and Prlncipal Office Myeloma UK, 22 Logie Mill, Beaverbank Business Park Edinburgh EH7 4HG Company No: SC190563 Charity No.. SC026116 44 MyeLoma UK Annual Report 2025 Report of the Directors incorporating strategic report for the 12 months to 31 December 2025 (continued) Statement of Directors. responsibilities The Directors (who are also trustees of Myeloma UK for the purposes of charity lawl are responsible for preparing the Directors. Annual Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (united Kingdom Generally Accepted Accounting Praclicel. Company law requires the Directors to prepare financial statements for each financial year. Under company law the Directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the charitable company and of the incoming resourees and application of resources, Including the income and expenditure, of the charitable company for that period. They are also responsible for safeguarding the assets of the charitable company and hence for tsking reasonable steps for the prevention and detection of fraud and other irregularities. The truslees are responsible for the maintenance and integrity of the corporaie and financial information included on the charitable company's website. Disclosure of information to the auditor For each person who is a Director at the time the report is approved.. so far as the Director Is aware, there is no relevant audit information of which the company's auditor is unaware.. and. • the Director has taken all the steps that they ought to have taken as a Director to make themself aware of any relevant audit information and to eslablish thai the company's auditor is aware of that information. In preparing these financial statements. the Directors are required to.. select suitable accounting policies and then apply them Consistently; observe the methods and principles of the Charities SORP 2019 IFRS 1021.. Independent Audltor make judgements and estimates that are reasonable and prudent.. slate whether applicable UK Accounting Standards have been followed. subject to any material departures disclosed and explained in the financial slatemenls.. The auditors. Henderson Loggie LLP. are deemed to be reappointed in accordance with section 487121 of the Companies Act 2006. Approved by the Directors at their meeting on 18 May 2026 and signed on their behalf by.. Signed: prepare the financial slatemenls on the going concern basis unless il is inappropriate to presume that the charilable company will continue in operation. The Directors are responsible for keeping adequate accounting records that disclose with reasonable accuracy at any time the financial position of the charitable company and enable them to ensure that the financial statements comply with the Companies Acl 2006, the Charities and Trustee Investment (Scotlandl Act 2005 and the Charilies Accounts IS¢otiandl Regulations 2006 las amended). David Ereira, Chair and Director Myeloma UK 22 Logie Mill Beaverbank Business Park Edinburgh EH7 4HG myeioma.org.uk 45 Independent Auditor's Report 46 MyeLorna UK Annual Report 2025 Independent auditor's report to the members and trustees of Myeloma UK forthe year ended 31 December 2025 OpSnSon these requirements. We believe that the audit evidence we have obtained is suff icient and appropriate to provide a basis for our opinion. We have audited the financial statements of Myeloma UK (the 'charilable company'l for the year ended 31 December 2025 which comprise the Statement of Financial Activities. Balance Sheet, Statement of Cashflows and notes to the f inancial statements. including significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards. including Financial Reporting Standard 102 The Financial Reporting Standard applicable in Ihe UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice). Concluslons relatlng to golng concern In auditing the financial statements. we have concluded that the Directors. (who are also the Trustees of the charitable company for the purpose of charity lawl use of the going concern basis of accounting in the preparation of the financial statements is appropriate. Based on the work we have performed. we have not identified any material uncertainties relating to events or condition5 that. individually or collectively, may east significant doubt on the charitable company's ability to continue as a going concern for a period of al least twelve months from when the financial statements are aLtlhorised for issue. In our oplnlon the flnanclal 8tatement&' give a true and fair view of the stale of the charitable Company's affairs as at 31 Oecember 2025. and of its incoming resources and application of resourees. ineluding its income and expenditure. for the year then ended; Our responsibilities and the responsibilities of the Diieetors with iespect to going concern are described in the relevant sections of this report. have been properly prepared in aeeordanee with United Kingdom Generally Accepted Accounting Practice. and Other Informatlon have been prepared in accordance with the requirements of the Companies Act 2006, the Charities and Trustee Investment Iscotlandl Act 2005 and regulaiion 8 of the Charities Accounts Iscoilancll Regulations 2006. The other information comprises the information included in the Report of the Directors. other than the financial statements and our auditor's report thereon. The Direciors are responsible for the other information. Our opinion on the financial statements does not cover the oiher information and, except to the extent otherwise explicitly staled in our report, we do not express any form of assurance conclusion thereon. Basis of opinion We conducted our audit in aceordance wilh International Standards on Audiling IUKI IISAS IUKII and applicable law. Our responsibilities under those standards are further described in the auditor responsibilities for the audit of the financial statements section of our report. We are independent of the charitable company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK. including the FRC'S Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with Our responsibility is to read the other information and. in doing so. consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements. we are quired to determine whether this gives rise to a material misstatement in the financial myeloma.org.uk 47 Independent auditor's report to the members and trustees of Myeloma UK for the year ended 31 December 2025 (continued) statements themselves. If. based on the work we have performed, we conclude that there is material misstatemenl of thi5 Other information. we are required to report that fact. Responslbllltles of Dlrectors As explained more fully in the Statement of Directors. responsibilities. set out on page 45. the Directors (who are also the Trustees of the charitable company for the purposes of charity lawl are responsible for the preparation of the financial statements and for being satisfied Ihai ihey give a true and fair view, and for such internal control as the Directors determine is necessary to enable the preparation of financial statements that are free from material misstatement. whether due to fraud or error. We have nothing to report in Ihis regard. Opinions on other matters prescribed by the Companles Act 2006 In our opinion, based on the work undertaken in the course of our audf(- the information given in the Report of the Directors lincorpoiating the Trustees. report) for the financial year for which the financial statements are prepared is consistent with the financial statements.. and In preparing the financial statements, the Directors are responsible for assessing the charitable company's ability to continue as a going concern. disclosing. as applicable, matters related to going concern and using the going concern basis of accounting unless the Directors either intend to liquidate the ehaiitable company or to cease operations, or have no realistic alternative bui io do so. the Report of the Directors has been prepared in accordance with applicable legal requirements. Matters on whlch we are requlred to report by exceptlon In the light of the knowledge and understanding of the charitable company and ils environment obtained in Ihe course of the audit. we have not identified material misstatements in the Report of the Directors, which Includes the Trustees, report. Audltor's responslblllties for the audlt of the financial statements We have been appointed as auditor under section 441illcl of the Charities and Trustee Investment Iscoiiandl Act 2005 and under the Companies Act 2006 and report in accordance with the Acts and relevant regulations made or having effect thereunder. We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 and the Charities Accounts Iscotlandl Regulations 2006 requires us to report io you if, in our opinion.. Our objectives are to obtain reasonable assurance about whether ihe financial statements as a whole are free f rom material misstatement, whether due to fraud or error, and to issue an auditor's report that includes our opinion. Reasonable assurance is a high level of assurance. but is not a guarantee that an audit conducted in accordance with ISAS IUKI will alway5 detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements. adequate and proper accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us. or • the financial statements are not in agreement with the accounting records and returns- or • certain disclosures of directors. remuneration specified by law are not made- or • we have not received all the information and explanations we require for our audit. 48 MyeLoma UK Annual Report 2025 Independent auditor's report to the members and trustees of Myeloma UK for the year ended 31 December 2025 (continued) Irregularities. including fraud. are instances of non-compliance with laws and regulations. We design procedures in line wtth our responsibilities, Outlined above. lo dele material misstatemenis in respect of irregularities, including fraud. The specific procedures for this engagement and the exlenl to which these are capable of detecting irregularities. including fratjd. are detailed below. Enquiries with management aboLJt any known or suspected instances of non-compliance with laws and regulations and fraud: Reviewing minutes of board and sub-committee meelings for discussions of irregularities including fraud: Challenging assumptions and judgements made by management in their significant accounting estimates, in particular in retation to fair value of invesiments and completeness of legacies- As part of our planning process: • We enquired of management the systems and controls the charitable company has in plaee, the areas of the financial siatements that are mostly susceptible to Ihe iisk of irregularities and fraud, and whether there was any known, suspected or alleged fraud. Management informed us that there were no instances of known. suspected or alleged fraud.. We obtained an understanding of the legal and regulatory frameworks applicable to the charitable company. We delermined that the following were most relevanl.. FRS 102.. GDPR. Health and Safety: employment law lincluding the Working Time Direciivel and compliance wilh the UK Companies Act and Scoitish charily legislation. • Auditing the risk of management override of controls. including through testing journal entries and other adjustments for appropriateness. Testing key revenue lines, in partlcular cut- off. for evidence of management bias., and RevSewing the flnanclal statement disclosures and determining whether accounting policies have been appropriately applied. Owing to the inhereni limitations of an audil, there is unavoidable risk that some material misstatements in the financial statements may not be detected, even though the audit is properly planned and performed in accordance with Ihe ISAS IUKI. For instance. the further removed non-compliance is from the events and transactions reflected in the financial statements. the less likely the auditor is to become aware of it or to recognise the noncompliance. The risk is also greater regarding irregularities occurring due to f raud rather than error, as fraud involves intentional concealment. forgery. collusion. omission or misrepresentation. The primary responsibility for the prevention and detection of irregularities and fraud rests with the director5. We considered the incentives and opportunities that exist in the charitable company, including the exteni of management bias, which present a potential for irregularities and fraud lo be perpetrated. and tailored our risk assessment accordingly- and Using our knowledge of the charitable company, together with the discussions held with management at the planning stage, we formed a conclusion on the risk of misstatement due to irregularities including fraud and tailored our procedures according to this risk assessment. A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uklauditorsresponsibilities. This descriplion forrn5 part of our auditor's report. The key procedures we undertook to detect irregularities including fraud during the course of the audit included.. myeloma.org.uk Independent auditor's report to the members and trustees of Myeloma UK for the year ended 31 December 2025 (continued) Use of our report This report is made solely to the charitable company's members. as a body. in accordance with Chapter 3 of Part 16 of the Companies Act 2006, and io the charitable company's Directors, as a body, in accordance with Regulaiion 10 of the Charities Accounts Iscotlandl Regulations 2006. Our audit work has been undertaken so that we might state to the charitable company's members and DIre￿Or$ those matters we are required to state to them in an auditor's report and for no other purpose. To the fullest extent permitted by law. we do not accept or assume responsibility to anyone other than the charitable company, the charitable company's members as a body and the charitable company's Directors as a body, for our audii work, for this report, or for the opinions we have formed. Signed.. Dlana Penny, Senior Statutory Auditor For and on behalf of Henderson Loggie LLP Chartered Accountants Statutory Auditor Eligible to act as an auditor in ierms of section 1212 of the Companies Act 2006 The Stamp Office, Level 5. 10-14 Waterloo Place Edinburgh EH13EG Date.. 26 May 2026 50 MyeLoma UK Annual Report 2025 Annual accounts forthe year ended 31 December 2025 myeloma.org.uk 51 statement of Financial Activities (incorporating income and expenditure account) for the year to 31 December 2025 Total Total Total Funds 2025 2025 2025 2025 2025 2024 Income and endowments from: Donations, 9rants & legacies 4,032.293 4,032,293 548,966 4,581,259 4,106,591 Charltable a¢tivibes'. Lwed Experience & Clinical Practice 7.540 29.963 7.540 29.963 7,540 44.963 6,786 43,599 • Research, Pdicy& Advocacy 15.OCX) Other trading activities.. Fundraising activities&event5 1.133.890 I.133￿90 1.133.890 1.260,112 Investrnents 31.673 31.673 31.673 74,039 Total 5.235.359 5.235359 563.966 5.799,325 5.491,127 Expenditure on: Raiging funds 1.886.584 1.886.584 14 1,886.598 2,248,755 Charltable activitles.. L￿￿￿ Experience & Clinical Practice • Rèsearch, Policy & Advocaty <1 . Communications 1.442.430 1.227.373 1.407.593 1.442.430 1.227.373 1.407.593 100.911 450.981 38.841 1.543.341 1.678.354 1.446.434 1.260,986 2.058,828 1.295,959 Total 5.963.980 5.963.980 590.747 6,554.727 6.864,527 Net incOm￿(•￿Pend1tur•) before Inv¢s¢men¢s galns / (losses) (728.621) (728.621) (26,781) {755.402) 11,373.40D) Gair6/(kE￿c￿lr￿g5trn￿ts 17 (143,610) (143.610) {143,610) 319,856 Net Incoffle/(expendlture) (872.231) (872.231) (26,781) (899.012) 11,053.544) Transfers between funds 22 1.510.112 (1.507.091) 3.021 (3.021) Net M0￿ment In fvnds 637.881 (1.507.091) (869.210) 129002) {899,012) 11,053.544) Re¢on¢iliati¢n of funds: Total fun(Js tyought fwar 2,924,284 4.691,054 7,615238 125.584 7.740,922 8.794,456 Total fund$ carrfeil fon*ard 22 3.562,165 3,183.￿3 6,746.128 95,782 6.841.910 7,740.922 All results relaie to continuing activities. The Statement of Financial Activities includes the net realised and unrealised gains and losses arising on disposals and revalkjations of our investments during the year. The notes on pages 55 to 73 form part of the financial statements 52 MyeLoma UK Annual Report 2025 Statement of financial position as at 31 December 2025 2025 2024 Fixed assets Intangible assets Tangible assets Investments 15 16 17 32.147 4.217.214 4,249.361 55.337 5.364.073 5,419,410 Current assets Oebtors 18 1,501.929 1.611.829 3.113.758 800,828 2.165,731 2.966.599 Cash at bank and in hand 25 c￿litorS due within one year 19 521.209 645,047 Net current assets 2,592.549 2,321,512 Totsl n•t a8s•ts 23 6.841,910 7,740,922 A•pre￿￿ted by Gener81 funds Oesi9nated fun¢Js Restricted fund5 22 22 22 3,562.165 3,183,963 95.782 6.841,910 2,924,284 4,691,054 125,584 7,740,922 The financial statements were authorised for issue by the Board of Trustees al their meeting on 18 May 2026 and signed on their behalf by.. Chair and Director David Ereira Treasurer and Director Alex Montgomery Company Number SC190563 myeloma.org.uk 53 Statement of cash flows forthe year ended 31 December 2025 2025 2024 ash fiows from opero¢ln9 artlvrtles Net eash used In operatin9 actlvttles 24 {1.588.823) (970.2021 Cash flows from investing activiti Dividends. interest and rents from investrnents Purchèse of property, plèntand equipment Purchase of investments Disposal of investments 31.673 74.039 (13,5511 15,010,(N)o> 6,286,573 16 17 17 I,cKo,000 N•t cash provlded bylnve5t5ng actlvltlos 1.031.673 1,337.061 Change in cash and cash equivalents in ihe reporting period Cash and cash eouivalents at the beginnSng ofthe ￿porting perfod Cash and ugh *qulwal*nts atthe end ofth¢ fePOrtJng perlod (557.150) 2.169,666 1,612,516 366,859 1,802.807 2,169,666 25 54 MyeLoma UK Annual Report 2025 Notes to the financial statements for the year ended 31 December 2025 l. Accounting policies General Informatlon- Charitable company The principal activily of Myeloma UK is to help myeloma patients live longer and with better quality of life. We provide a broad and innovative range of services, from information and support, to improving standards of treatment and care through research, education, campaigning and raising awareness. Patients drive the organisation's sense of urgency and desire lo accelerate the delivery of improved care. effective treatments and ultimately to find a cure for myeloma. • Myeloma UK is a Public Benefit Eniity as defined by FRS 102. • Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise slated in the relevant accounting policy. • These financial statements are presented in pounds sterling IGBPI as that is the currency in which the charity's transactions are denominaled. All amounts are rounded to the nearest É. Myeloma UK Is a charitable company limited by guarantee incorporated in the United Kingdom and registered in Scotland. It is recognised as a charity for lax purposes by HMRC and is registered with the Office of the Scottish Charity Regulator IOSCRI under Charity number SC026116. In the event of the winding up of the charitable company a member is liable to contribute a sum not exceeding £1. Details of the registered office and company registration number can be found on page 44 01 these financial statements. Amendments to FRS 102 Introduced by the Period Review 2024 • The amendments to FRS 102 along with the revised Charities SORP 2026 are applicable for accounting periods commencing on or after l January 2026. with earlier adoption permitted. The Directors have opted not to adopt these amendments early. as such, the amendments will be implemented for the accounting year ending 31 December 2026. The most significant amendments are the replacement of Section 23, now renamed 'Revenue from Contracts with Customers,, and Section 20 'Leases'. The other less significant changes are not currently expected lo have a material impact. The new revenue and leasing requirements seek to provide greater consistency and alignment with International Financial Reporting Standards. namely IFRS 15 and IFRS 16. The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are sel out below. Basis of accounting The financial statements have been prepared in accordance with the charity's governing document, the Charities and Trustee Investment Iscotlandl Act 2005. the Charities Accounts Iscotlandl Regulations 2006 las amended), "Accounling and Reporting by Charities.. Staiement of Recommended Practice applicaL)le to charities preparing their accounts in accordance with the Financial Reporting Slandard applicable in the UK and Republic of Ireland IFRS 1021 leffective 1 January 20191-. the Fir)ancial Reporting Standard 102 applicable in the UK and Republic of Ireland IFRS 1021 (effective 1 January 20191 and the Companies Act 2006. The charitable Company is currently planning for the ifflplementation of these changes. Under the new lease accouniing requirements these changes will be applied using the modified retrospective approach which avoids the restatement of comparative figures. The implementation of the changes would see leased assets recognised as Right-of-use assets on balance sheet. with a lease liability recogni5ed based on the discounted value of any future commitments, plus payments related to optional extension periods if considered reasonably certain. myeloma.org.uk 55 Notes to the financial statements for the year ended 31 December 2025 (continued) l. Accounting policies (continued) Exemptions to this approach will be considered for certain short-term leases or low-value assets. of available information and application of judgement are inherent in thè formation of the estimates. together with past experience and expeclations of f uture evenls that are believed to be reasonable Ljnder the circumstances. The estimales and underlying assumptions are reviewed on an ongoing basis. Revisions of accounting estimates are recognised in the period in which Ihe estimate is revised and in future period where the revision affects both. Under the new revenue accounting requirements, management expects these changes lo be applied using the modified retrospective approach which avoids the restatement of comparalive figuTe5. Management are reviewing the current and expected f uture revenue transactions to determine the necessary performance obligations. transaction prices. and overall recognition and presentation to ensure compliance with the changes. As al the dale of signing the financial statements. and given the changes relate to future periods. it has been deemed impractical lo delermine the amounts involved. Critical judgements are made in the application of income recognition requirements and the recognition of grants payable in line with performance conditions applicable to individual awards. Fund accountlng Unrestrieted funds are availablè for use at the discretion of the Directors in furtherance of the general objeciives of the organisation. Designated funds are unre5trieted income sources which have been reserved for a specific future purpose. This designation has an administraiive purpose only and does not legally resirici the Directors. discretion to apply the fund. Resiricied funds are subject to speclflc requirements as to their use which are imposed by the donor or through the terms of an appeal or grant. Going concern • The Charity has a net deficit for Ihe year ended 31 December 2025 of £0.9m 12024.. deficit £1.1ml and at 31 December 2025 has net assets of £6.8m12024'. £7.7ml. Al 31 December 2025 the charity had unreslricled reserves of £6.7m12024'. £7.6ml. Due to the level of unrestricted cash reserves held by the charity the Directors are of the opinion that the organisalion can meet its obligations as they fall due for the foreseeable future. The organisation makes use of budgets and forecasts to manage and assess financial performance, ensuring that liabilities are met as they fall due. On this basis, the Directors consider it appropriate to prepare the financial statements on a going concern basis. Recognition of income Income is recognised when Ihe charity has entitlement to the funds. any performance conditions attached to the items of income have been met. the receipt is probable and the amount can be measured reliably. Critical judgements and estimates In preparing the financial statements the Directors make estimates and assumptions which affect reported results. financial P051tion and disclosure of contingencies. Use Donations. fundraising and trading income as well as tax recoveries are included in the period in which they are receivable. Investmeni income is included when receivable. 56 MyeLoma UK Annual Report 2025 Notes to the financial statements for the year ended 31 December 2025 (continued) l. Accounting policies (continued) • Legacies are recognised as income when there is entitlement, probability of receipt and measurability of the legacy. Where legacies have been nolified to Ihe charity and the criteria for income recognition haven't been met, the legacy is treated as a contingent asset and disclosed if material. No life inierest legacies have been awarded to ihe organisation. Grants are credited to Ihe Statement of Financial Activities and Income and Expenditure Account in the year in which they are receivable. Grants are not recognised as receivable until the conditions lor receipt have been met. performance conditions have not been met, grants payable are only disclosed as future commitments in the notes to the accounts. Governance costs include those costs associated with meeting the constitutional and statutory requirements of the organisation and costs linked to the strategic management of the organi5alion. Support costs have been allocated lo categories on a basis consistent with the use of resource5, e.g. on the basis of total direct costs incurred by each activity. Intangible fixed assets and amortisation • Intangible assets are initially measured at cost and subsequently measured at costs less accumulated amortisatSon and accumulated impairment losses. Amortisation is calculated on a stralght Ilne basis to allocate the assets value evenly over its estimated useful life.. Campaign database- 7 years straight line Where there are performance conditions attached to any grants and donations. income is recognised when the conditions have been met or when meeting the conditions are within the charity's control and there is suff ieieni evidence that Ihey have been met or will be met. Where a grant condition allows for the recovery of any unexpended grant, a liability is recognised when repayment becomes probable. • The amortised value intangible assets are subject to an annual impairment review. Impairment losses are recognised in the ststement of Financial Activities in the year of impairment. Allocation and recognltlon of expenditure Expenditure is recognised when a legal or constructive obligation arises. Where possible. expenditure has been charged directly to charitable expenditure or support costs. Where this is not Possible. the expenditure has been allocated on the basis of lime spent by staff on each activity. Grants payable are paymenis made to third parties in the furtherance of the chariiable objectives of the organisation. Provisions for grants are made when the intention to make a grant has been communicated to the recipient and there is uncertainty about either the timing of the grant or the amount of grant payable. but the terms and conditions attached to the grant have been met. Where the • The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset and 15 recognised in the Statement of Financial Activities for the year. Tanglble fixed a$$ets and deprecSatlon Tangible fixed asset5 consist of office equipment and leasehold improvemenis. Individual fixed assets costing £2,500 or more are capitalised at cost. Tangible fixed assets are stated at cost less depreciation and impairment losses. myeloma.org.uk 57 Notes to the financial statements for the year ended 31 December 2025 (continued) l. Accounting policies (continued) Tangible fixed assets are depreciate(l on a straight line basis over its estimated useful life.. Leasehold improvements- 8 years straight line IT Equipment- 4 years straight line Office equipment- 3-4 years straight line Credltors Aged payables are obligations to pay for goods or services that have been acquired. They are recognised at the undiscounted amount owed lo the supplier, which is normally the invoice price. • The amortised value langible assets are subject to an annual impairment review. Impairment losses are recognised in the Statement of Financial Activities in the year of impairment. • The gain or loss Irising on Ihe disposal of an asset is determined as ihe difference between the sale proceeds and the cariying value of the asset and is fecognised in the Statement of Financial Activities for the year. Financial assets and liabilitles Financial instruments are recognised in the statement of financial position when the charity becomes a party lo the contractual provisions of the instrument. Financial instruments are initially measured al transaction price. Subsequent lo initial recognition. they are accounted for as set OLrt below. Financial instruments are classified as either 'basic' or 'other' in accordance with Chapter 11 of FRS 102. The charity has only entered into basic financial insiruments. Flxed •$set Investments • Investments are slated al fair value at the year end, which is provided by the charity's investment advisors. Gains and losses are included within the Slatement of Financial Activities. • At the end of each reporting period, basie financial instruments are measured at amortised cost using the effective interest method. Quoted equity financial instruments are measured at fair value at the end of the reporting period with the resulting changes recognised in income or expenditure. Where the fair value cannot be reliably measured. they are reeognised at cost less impairment. Debtors • Aged Receivables are reeognised ai the undiseounted amount of cash receivable. whieh is normally the invoiced amount, less any allowance foi doubttul debts. Financial assets are derecognised when the Contractual rights to the cash flows from the asset expire, or when the Charily has transferred subsiantially all Ihe risks and rewards of ownership. Financial liabilities are derecognised only once the liability has been extinguished through discharge, cancellation or expiry. Cash atbank and in hand Cash and cash equivalents consist of cash on hand, and balances wtth banks which are readily convertible. being those with maturities of three months or fewer from inception. Cash and cash equivalents are measured at amortised cosl. Hollday pay accrual A liability is recognised to the extent of any unused holiday pay entitlement which has accrued at the balance sheet date and is carried forward to future periods. This is measured as the undiscounied salary cost ol ihe f￿Ure holiday entillement. 58 MyeLoma UK Annual Report 2025 Notes to the financial statements for the year ended 31 December 2025 (continued) l. Accounting policies (continued) Operatln9 leases Rentals applicable lo operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged lo the Statement of Financial A￿1VitieS on a siraight-line basis over the life of ihe lease. Donated professlonal servlces and goods Donated professional services and donated goods are recognised as income. if a value can be reliably measured. at the value to the charity when received. In accordance with the Charities SORP IFAS 1021, no amounts are included in the financial statements for services carried out by volunteers. including professional services provided directly by volunteers. Operating lease eommiimenis disclosure includes irrecoverable VAT where appropriate. Penslon cost$ The organisalion operates a defined contribution pension scheme for a money purchase pension so there is no outstanding liability lo the company. Contributions are charged lo the statement of financial activities as they become payable in accordance with the rules of the scheme. Pension costs follow staff costs in allocating the Ilability and expense to actlvlties and restricted funds. Taxation The charity has trading profits from trade which does not relate to the Charity's primary purpose. and so are liable to corporation tax. Where the charity exceeds the small trading turnover threshold, corporation tax is due on any profits which arise. Current tax is recognised for the amount of income tax payable in respect of the taxable profit for the currenl or past reporting periods using the lax rates and laws that that have been enacted or subsiantively enacted by the reporting date. The organisation is registered, bui partially exempl for VAT. Accordingly. expenditure includes irrecoverable VAT where applicable. Any Grft Aid repayment due on income receivable is recognised on an accruals basis. myeloma.org.uk Notes to the financial statements for the year ended 31 December 2025 (continued) Income and endowments 2. Donations grants and legacies Restricted Funds 2025 Funds 2025 Total 2025 Total 2024 Donation5 (including tax recoverable) Legacies Grants from Corporate and Charitable Trusts Grants from phamaceutital companies CommunityfiJndraisin9 1.605.100 1.617.068 173359 352.723 8.313 142.431 45.oc 500 1.957.822 1.625.381 315.790 98.000 584,266 4,581,259 2.103,223 995,026 220.946 128,400 658,996 4,10fj,591 583.766 4,032,293 548,9fj6 3. Charitable activities- Lived Experience and Clinical Practice Unr¢stricted Funds 2025 Restricted Funds 2025 Unr¢strlcted Funds 2024 Total 2025 Infoday fe•s Consultancy services 4305 3.235 7,540 4305 3,235 7,540 5,886 900 6,786 4. Charltable actlvities- research & development Unrtstrlcted Funds 2025 Restrlrted Funds 2025 Vnwtrl¢ted Funds 2024 Total 2025 Resèareh projaets ineom• Consultancy services 14.404 15.560 29.963 15.oc 29.404 15.560 44.963 IOB80 32,719 43,599 15.000 5. Othertradlng actlvities- fundralslng activitles & events Flestrieted Funds 2025 Funds 2025 Total 2025 Total 2024 Myelorna UK events Fundraising activities Merchandise Lottery 73￿08 822056 64.066 173.159 1,133090 73B08 822.856 64.066 173,159 1,133@90 396,802 659,915 53.284 150,111 1,260,112 Unrestrlcted Funds 2025 UTh￿11￿¢ted Funds 2024 6. Investment income Interest received 31.673 31.673 74.039 74,039 60 MyeLoma UK Annual Report 2025 Notes to the financial statements for the year ended 31 December 2025 (continued) Expenditure on 7. Raising funds Un￿$trIC￿d Funds 2024 Funds 2025 Funds 2025 Total 2025 Nrte Special Events and Major Donors Myeloma UK events Fundraising activities erchandise Other fundraising costs Ernployment Costs Support costs Governanee Costs 26,669 76,39X) 336.005 38.626 14 26.683 76,390 336,(￿5 38.626 204,601 201,733 279,056 52,49B 98.249 983.271 366.068 63.279 2.248,755 12 li li 1.039.485 321.668 47.741 1.886,584 1.039.485 321.668 47.74L 1.886.598 14 8. Charitable activities- Lived Experience and Clinical Practice Funds 2025 Fund$ 2025 Total 2025 Total 2024 Programrne costs Ernployment costs Support costs Governance costs 258,251 881,982 263.142 39.056 1,442,430 63,030 37.881 321,281 919,802 263,142 39.056 1.543,341 244,923 775,306 205,273 35,484 1,260,986 12 li 100,911 9. Charitable activities- Research, Policy and Advocacy Fund$ 2025 Funds 2025 Total 2025 Total 2024 Prograrnrne c05ts- grant5 payablè Prograrnrne costs-other Employment costs SupKx)rt costs Governance costs 235.425 118.447 544.866 286.163 42.471 1.227,373 308.813 30.564 111.604 544.238 149.011 656.470 286.163 42.471 1.678.354 922.321 187.872 555.549 224,152 57,934 2,05B.828 12 li li 450.981 Grants payable in the current and prevths year a￿ payable ￿thefolloWn9 insbtutions.. Institute for Cancer Research 177.247 74.269 Leeds Unwersity Hospital 605 59.742 Queen Unfversity Belfast 31,131 University College London 40.193 University of Birmingham 83.478 University of Warwck Univer51ty of Oxford UCLH NHS Foundation Trust 251.516 60.347 76,474 40,193 83,478 329.998 256,808 74,724 185,067 67,316 1,967 6.441 45,343 9.730 9.730 CaTnbridge Univer5tyHospitals NHS Foundation Trust Total grants payable. as above 12.230 235.425 10.270 308.813 22,51X) 544.238 922.321 myeloma.org.uk 61 Notes to the financial statements for the year ended 31 December 2025 (continued) 10. Charitable actlvities- Communications Restricted Funds 2025 Funds 2025 Total 2025 Total 2024 Programme costs Employment costs Support costs Governance costs 286.598 837.771 246.620 36.603 L407.593 33,073 5.768 319,671 843.539 246.620 36.603 1,446,434 308.289 740.237 210.965 36.468 1,295,959 12 li 38041 11. Governance and support costs Fundrnl$lng 2025 S•r¥lees R•searth 2025 2025 Comm 2025 Total 2025 Total 2024 Note Govemanee Accountancy end audit Board expenses Leg31 and professional fee5 Consullancyc05ts Employrnent easts 3.496 &923 2.860 5.664 3,110 6.159 2,680 5a08 12,146 24,054 27,360 57,465 10.229 11.056 16.037 47.741 8.368 9.045 13.119 39056 9.100 9.836 14.266 42,471 7.842 8.478 12.295 36.603 35.539 38.415 55.717 165,871 41.084 9.150 58.106 193,165 12 Support C05t5 Employrnent costs Office costs IT costs Administration cgsts HR & Other cost5 12 182261 36,133 44,670 30.097 28.407 321,668 149,181 29,559 36.543 24.621 23.238 263,142 l62.232 32.145 39.740 26.775 25.271 286,163 139,814 633,588 27,703 125,540 34,249 155,202 23,075 104.568 21,779 98.695 246.620 1,117,593 535,721 134,617 147,396 105,827 193.897 1,117,458 Total Supporteosts 369.409 302,198 328.634 283.223 1,283,464 1,310,623 12. Employee remuneration 2025 2024 Salades Employerfs natlonal Snsurance Employerfs pension contribution 3,281,040 394.816 472,806 4,148.662 2,929,804 303,896 414.490 3,648,190 Average numberofernployee5 87 81 Ernployees earning between £60.001 and r70.oc Ernployees earning between £70.001 arKJ £80.0 Ernployees earning between £80.001 and £90.OC Etnployees earning between £IIO.CM)l and £125.(XJO 62 MyeLoma UK Annual Report 2025 Notes to the financial statements for the year ended 31 December 2025 (continued) 13. Payments to Dlrectors 2025 2024 No Directors received any remuneration or other benefits. Board travel and related expenses reimbursed Trustee indemnity insurance paid during theyear Totsl employee benefits ofkey management personnel 24,054 2.019 727.763 13,318 2.019 692.526 6 Board Director5 were reirnbur5e(l travel expenses in 2025 (2024.. 12). 14. Net movement In funds 2025 2024 Thi5 is stated after charging.. Auditors. remuneration-8udit Au(Jitors' remuneration- nOn-a￿lIt seTh￿e$ Operating leases expenses Loss on disposal offixed assets Oepreciation & amort15ation 12,600 10,499 89,041 2,377 20813 14,400 12,961 96,754 4,718 25,286 15. Intanglble fixed assets Capltallsed gortwgre Cost At l January 2025 Purchased during peri¢xl Oisposeij off At 31 December 2025 4,882 (4,882> Amortisation and impalrm•nt At l January 2025 Provided during period Eliminated on disposal At 31 December 2025 (4.882) 4,882 Net bookvalue At 31 Deeernber 2025 Al 31 December 2024 myeloma.org.uk 63 Notes to the financial statements for the year ended 31 December 2025 (continued) 16. Tangible fixed assets Leasehold Impro¥emen¢ Equlpment Totsl Cost At l January 2025 Purchased during period Disposed off during period At 31 December 2025 24D75 161,996 186,071 (5.941) 156,056 (5.941) 180,131 24,075 Depreelatlon At l January 2025 Provideil during pericKI Elimlnated on disposal At 31 December 2025 13.608 2.749 117.126 18.064 (3.564) 131,627 130,734 20,813 13.564) 147,984 1fj.357 Net bookvalu• At 31 Decemt)er 2025 7.718 10.467 24.429 32,147 55337 At 31 December 2024 17. Investments Listed investments Fairvalue l January 2025 Purchases 5,360.137 Disposals Net Investment Ilossesl/gain$ Falrvalue 31 December 2025 Cash held In the Investment portfollo {I,000.coo} (143.6101 4,210,527 687 Totsl Inves¢ments at 31 ot￿Mber 2025 4,217,214 Historical c05t 5,010.000 During the year investment managernent provider name ha5 been changed from Meridiern IrNestrnents to Navera Investments. The investrnents a￿ hthy in a core equityvnlh fixed income stratw. Individual securities within this fund are not identifiable. 18. Debtors 2025 2024 Age(1 Recelvables P￿paymentS and accwed income 14,388 1,487.540 1.501.929 4,599 796,229 800.828 64 MyeLoma UK Annual Report 2025 Notes to the financial statements for the year ended 31 December 2025 (continued) 19. Credltors due withln one year 2025 2024 Aged payables Accruals and deferred income 116,141 312,394 294.286 201.913 68,000 80,848 645,047 Accruals for grants payab Taxation and social security creditors 92,674 521,209 Deferred In￿me At l January 2025 Released in year Income deferred in the year At 31 Decernber 2025 37,896 (37.896) 164.561 164.561 28,133 (14.0831 23.846 37.896 Income (registration fees and sponsorship money) ￿￿t1Th) to sporting e￿nts wthich take place in the followin9 calendar year has been defer￿￿ until the event lakes place. 20. Operatlng lease commltments The or9anisation had non4anc•llabl•eommiiments underowrating l•as•s as fdlows.. 2025 2024 Land and bulldlngs Payments due within one year Payments due within 2-5 years Payments due in MO￿ than 5 years 104,004 410,016 424,683 944,703 90,432 361,728 7,536 459,696 Equlpfflent Payments due within one year Payrnents due within 2-5 years 3.483 8.434 11.918 3.483 10.731 11.918 Total 956,621 473,910 myeloma.org.uk 65 Notes to the financial statements for the year ended 31 December 2025 (continued) 21. Grants payable commTtments The organisation has the following commitments for grants payable.. Committed Historic New Committed at Total 01 January Charged Released Accrued Adjustment Grant5 31 December Grant 2025 2025 2025 2025 2025 2025 2025 Grant awarded to ICR- Research Prograrnme Grant 1.985.656 526.038 (220.746) 305.292 David Forbes Nixon Foundatiot) Fellowship at ICR I,000,￿) 30.770 (30.770) Early Diagnosi5 IMUK2021.EEX)I) 250.C 118.507 {40.193) 78.314 Eady Diagnosi5 IMUK2021.ED05) 240.C( 122.565 (63557) 59,007 Bioinformatics. MUK. Informatics 2022 240,C 150,864 (76.474) 74,390 Survivorsttlp Grent- The RADIUS Study 98,146 98,146 (9.730) 88,416 3013.802 1.046.890 {441.470) 605,420 Grant commitments noted above relate to projects running for lon9erthan 12 months and covering more than one accounting period. Detalls ofthe grant periods and b'ming ale noted below. Remalnlng balance ProJ•et name Total 9rant start date and grant perfod ICR- Research Programme Grant Universitycollege London- MUK2021.EDOI 1,985.656 August 2019- 6ye8rs (extended lo May 2027) 305,292 250.¢X() sep￿ber2022-4￿*arS 78,314 Universityof Bimiingham- MUK2021.E005 240.oc September 2022 - 4 years (exiended toJuly 20271 59,007 Bioinformatics- MUK-Informatics 2022 240KO) February 2023- 3years 74.390 Survivorship Grant- The RADIUS Study 146 Decernber 2024-2 yews 88.416 66 MyeLoma UK Annual Report 2025 Notes to the financial statements for the year ended 31 December 2025 (continued) 22. General, Designated and Restricted funds 01 January 2025 Gains/ Expenses TTrnsfers (Losse5) 31 December 2025 Incorne Unrestrlcted funds General funds 2,924,284 5,235J59 (5,963,980) 1,510.112 1143,610) 3,562,165 Desi9nated fvnds Operating expenditu Strategy Investment Research Programmes Grants payable Commitments 2.182,494 1,461,670 490,082 556.808 188,917 11.461,670} 18,536 (252,874) 2,371,411 508,618 303,934 Total unrestricte) (I,cth) (32.5(X)) {717) (3,312) (37.931) (lo.0￿> 7.406 32ACQ 717 3.500 20.OC() i0￿C 188 9.500 8.431 3030 (3.830) Totsl ostricted funds 125.584 563.966 (590.747) (3,021) 95,782 Total chariiyfunds 7,740.922 5,799325 (6.554.727) (143.610) 6,841.910 myeloma.org.uk 67 Notes to the financial statements for the year ended 31 December 2025 (continued) 22. General, Designated and Restricted funds (continued) Deslgnated Funds Fund name Fund purpose Desi9nated reserve io support the charityin meeting its operational costs for the period of 6 months. Designated reserve for investrnent in newstrategv. Balance ol￿SearCh 9rant payalje commitment at theyearend not relating specthcallyto biomedical research programrnes. Funds relatin9 to grant commitments forbiomedical research 9rants. Operating expenditure Strategic Investment Research Programmes Grants payable Commitments Restricted Funds Fund nom• Fund purpose Early Diagnosis Understan {1,053,544> Adjustments for Depreciation & amortisation charges Loss on disposal of assets (Gains) / losses / on investments Dividends, interest & rents from investments Decrease / (increase) in deblors Increase / (decrease) in creditors 20B13 2,377 143,610 (31,673) (701.101) (123.837) 25,286 4,718 (319,8561 (74,039) 431.737 15.496 Netcash used by operatlng acilvlkne5 (1,588,823) (970,202) 25. Analysls of cash. cash equlvalents and net debt 2024 ¢o$h flows 2025 Cash at bank 2.165.731 3.935 2.169.666 (553,902) (3,248) {557.150) 1,611,829 687 Cash held as part of in¥e51ment portfolio 1,612,516 The ¢haritsble companydoes not have any financial Ilebts s￿h as overdTafts ￿ i)ank loans. 70 MyeLoma UK Annual Report 2025 Notes to the financial statements for the year ended 31 December 2025 (continued) 26. Controlling party In the opinion of the Directors. there is no controlling party. 27. Related parties During the year the charity received unrestricted donations of £534 from three trustees12024- £22.296 from ten trustees). In 2024 the charity also received gifts-in-kind for the auction at the Gala Dinner of £16,700 from one trustee and donations totalling £25.000 toward the Dinner from entites related to the trustees. nil in 2025. myeloma.org.uk 71 Notes to the financial statements for the year ended 31 December 2025 (continued) 28. Comparative Statement of Financial Activities Totsl Total Total Funds 2024 2024 2024 2024 2024 2023 Not• Income and endowments from.. Donation5. grants & legacie5 3.920.511 3.920.511 186.080 4.106.591 4.074,093 Charitable activities.. • Se￿iCes 6.786 42.099 6.786 421199 6,786 43.599 5,677 82.629 . Research & devekjprnent Other trading activities.. Fundraising aLtivities&•vents 1.260.112 1.260.112 1.260.112 1.003,167 Investments 74.039 74LJ39 74.039 77,583 Total 5.303.547 5.303.547 187.580 5.491.127 5.243.249 Expenditure on: Raising funds 2,178.911 2.17&911 69,844 2,248,755 1,822,851 Charltable activitles.. Services Research & ¢Jevelopment • Communications 1,190.30S 1,846,578 1,295.959 1.190205 1,846,578 1.29S,959 70.681 1,260,986 212.250 2.058,828 1,295,959 1.208,114 1.937,55? 1,240,298 io Total 6,511,753 6.511.753 352.774 6,864,527 6.208,815 Net Incoffle/(expendltur•) belor• Inv•stm•nt (lois•s) /galns (1.208,207) {1,208.206) (16S,1941 (1,373,400) (965,566) ILossesl/Galns ￿ investm&its 17 319.856 319A56 319,856 (450,857) Net income/{expenditure) (888,350) (888,350) (165,194) (1,053,544) 11,4L6,423) Transfers between funds 22 1.246.237 (1.246.237) Net movement In fvnd5 357.887 (1.246.237) (888.350) (165.194) (1.053.544) 11,416.423) Reconciliation of funds= Total funds brought f(xwar