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2018 ITF Trust Annual Report and Financial Statements

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Use of this report This report, including the opinion, has been prepared for and only for the group's directors as a body for enabling you to fulfil your obliga on to ITF Trust to obtain an audit of the group's financial statements in accordance with our engagement le er dated 12 December 2018 and for no other purpose. We do not, in giving this opinion, accept or assume responsibility for any other purpose or to any other person to whom this report is shown or into whose hands it may come, including without limita on under any contractual obliga ons of the group, save where expressly agreed by our prior consent in wri ng. PricewaterhouseCoopers LLP Chartered Accountants London 18 March 2019 Report on the audit of the financial statements (continued) ITF ANNUAL REPORT AND FINANCIAL STATEMENTS / 09

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