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XRP LEDGER TRUST MTÜ's activity report 2022

The non-profit organization XRP Ledger Trust was established in October 2020, with the aim of helping to create solutions using the XRP Ledger blockchain that benefit the entire global community. The NGO also aims to support educational initiatives by providing scholarships and grants. In 2021, the NGO supported

Taltech, the University of Tartu, and the Jõhvi Code School.

Main activities in 2022

1. Developer meeting in July 2022 in Tallinn, Estonia.

2. Launching a project of the Taltech Department of Energy..

3. Launching the University of Tartu IoT development project.

4. Scholarships for Taltech and University of Tartu students to explore the use of blockchain in various fields.

5. Preliminary project specification for creating short legal courses related to blockchain technologies with the Taltech Law Department.

6. Funding the hydrogen catalyst project in collaboration with the University of Tartu/H2 technologies.

Global 1. Starting a partnership in developer training in India..

2. Communicating with banks in African countries to create cheap solutions for domestic money transfers.

Technology/IP 1. Completion of the transfer of the XRP trademark to the NGO in multiple countries.

2. Transfer and maintenance of the portal xrpl.org handed over to the NGO.

3. Technical management of the XRP ledger, including signing the main network security systems.

As of 31.12.2022, the NGO employed 3 full-time employees in Estonia (excluding resident board members -2), 1 employee in Denmark, 1 employee in Germany.

In addition, advisors have been appointed from various fields, including technology, education, and industry representatives.

Our plans for 2023 include additional scholarships for students of Estonian schools and universities. We are also working on creating pilot projects to demonstrate

Estonia's technological leadership in the use of energy-efficient blockchain technologies.

Key financial indicators for 2022:

Short-term liabilities coverage ratio = 4 363 770 / 162 707 = 26.82 Key financial indicators for 2021:

Short-term liabilities coverage ratio = 8 523 533 / 8 882 159 = 0.96

Methodology for calculating key financial indicators:

Short-term liabilities coverage ratio = current assets / short-term liabilities The widespread attack by the Russian Federation's armed forces against Ukraine, which began on February 24, 2022 and is still ongoing, negatively affects the organization's economic activity, but as the situation is uncertain and rapidly changing, the management does not currently consider it appropriate to give quantitative estimates of the possible impact of the war. The management is monitoring the course of events in the accompanying economic environment and adjusting its activities accordingly. At the time of preparing the report, the management has no information that would suggest that the impact of the war in Ukraine is likely to jeopardize the continuity of the organization's operations within 12 months from the reporting date.