| ACCESS TO ENERGY FUND 2025

For the year ended December 31, 2025 Read more about Statement of financial position .

For the year ended December 31, 2025 Read more about Statement of comprehensive income .

For the year ended December 31, 2025 Read more about Statement of changes in fund capital .

For the year ended December 31, 2025 Read more about Statement of cash flows .

The Access to Energy Fund (AEF), the Fund, started in 2007 by the Dutch Ministry of Foreign Affairs to support the creation of sustainable access to energy in developing countries by providing risk bearing funding; equity, subordinated loans, local Read more about Summary of material accounting policies .

The cash on bank accounts can be freely disposed of. All bank accounts are classified as Stage 1. Read more about Notes to the financial statements .

For FMO, acting in its role as Fund Manager (hereafter ‘FMO’) to be able to carry out the fund’s strategy, it is essential to have an adequate risk management system in place to identify, measure, monitor and mitigate financial risks. Read more about Risk management .