ITF

• • • • • London Chartered Accountants PricewaterhouseCoopers LLP Auditors' responsibilities for the audit of the financial statements Use of this report Discussions with management and those charged with governance, including consideration of known or suspected instances of non-compliance with laws and regulation and fraud; Challenging assumptions and judgements made by management in their significant accounting estimates; 16 March 2021 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 obligation to ITF Trust to obtain an audit of the group's financial statements in accordance with our engagement letter dated 26 January 2021 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 limitation under any contractual obligations of the group, save where expressly agreed by our prior consent in writing. Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditors' 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 (UK) will always 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. In preparing the financial statements, the directors are responsible for assessing the group'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 group or to cease operations, or have no realistic alternative but to do so. A further description of our responsibilities for the audit of the financial statements is located on the FRC's website at: www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditors' report. Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud, is detailed below. Based on our understanding of the group and industry, we identified that the principal risks of non-compliance with laws and regulations related to, but were not limited to, the impact of working locations on personal tax in line with UK tax legislation, GDPR and Criminal Corporate Offence legislation relating to foreign tax evasion, and we considered the extent to which non- compliance might have a material effect on the financial statements. We also considered those laws and regulations that have a direct impact on the financial statements such as the Companies Act 2006. We evaluated management's incentives and opportunities for fraudulent manipulation of the financial statements (including the risk of override of controls), and determined that the principal risks were related to management bias in accounting estimates and judgements, particularly in relation to revenue recognition and capitalisation of intangible assets. Audit procedures performed included: There are inherent limitations in the audit procedures described above. We are less likely to become aware of instances of non- compliance with laws and regulations that are not closely related to events and transactions reflected in the financial statements. Also, the risk of not detecting a material misstatement due to fraud is higher than the risk of not detecting one resulting from error, as fraud may involve deliberate concealment by, for example, forgery or intentional misrepresentations, or through collusion. Review of minutes of meetings of those charged with governance; Discussions with external tax advisors including consideration of known or suspected instances of non-compliance with tax legislation. Identifying and testing journal entries, in particular any journal entries posted with unusual account combinations, unusual words and unusual users; 9

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