ANNUALREPORT AND
ACCOUNTS
2023

CO N T EN TS
1. President’s Report -  -  -  -  -  -  -  -  -  -  -  -  -  -  -  -  -  -  -  -  -  -  - 62. Operations Report  -  -  -  -  -  -  -  -  -  -  -  -  -  -  -  -  -  -  -  -  -  - 14
A. A Solid 2023 Lays Foundation for Next Four Year Growth  -  - 16
B. 2023 Revenue, Expenditure, Development at a Glance -  -  -  - 17
C. 2020-2023 Strategic Plan for Growth Review - - - - - - - 19
D. Pioneering Change Strategic Plan 2024-2027  -  -  -  -  -  -  - 22
E. 2024 Key Priority Areas -  -  -  -  -  -  -  -  -  -  -  -  -  -  -  -  -  - 24
F. MF Grant for Growth Case Studies -  -  -  -  -  -  -  -  -  -  -  -  - 25
G. A Sustainable Future for Athletics -  -  -  -  -  -  -  -  -  -  -  -  - 29
Appendix A – 2023 Audited Financial Statements  -  -  -  -  -  -  -  - 36
Appendix B – World Athletics 2023 Remuneration Policy -  -  -  -  - 75

1.
PRESIDENT’SREPORTWORLD ATHLETICS ANNUAL REPORT AND ACCOUNTS 2023

1 . P RE SID EN T ’S R EPO R T
2023 was an exceptionally strong year for athletics,
anchored by one of the best World Athletics Championships
in history as well as strong one-day circuits and new market
growth in road running.
A first-rate World Athletics Championships has left our
stakeholders and fans in no doubt that we are a sport that ispunching its weight and on the move. Almost 2000 athletes
from 195 Countries and members of our Athletics Refugee
Team took part, with 46 countries winning medals and 71
countries making the Top 8. No other sport has the global
reach of athletics.
Viewed broadcast hours reached 1.2bn, viewed by 600m
people across 231 territories (linear only) with many morewatching the Championships online – with a record 18.5m
viewer hours consumed on RHB digital platforms.
But it’s not just the nine days of competition that we aremeasuring. The total impact of hosting
the World Athletics Championships wasjust over US$400m, including economic,
environment, social and media impact.

This led to an increase in our website visitors in 2023 (39m)
and a big increase in our media coverage, which reached25bn people. Our social media followers grew from 10m
to 12m with 2m of them voting for our Female and Male
Athlete of the Year in 2023.
Our new Executive Board and Council, voted in at ourCongress in Budapest, is stronger than ever with a 50/50
gender balance on Council. We are the first sports bodyto have achieved this and are already seeing the resultsin the quality of discussions and subsequent decisions
we are making. Most of our Council members have been
elite athletes so have come through the pathway which isgood for decision making and also as role models for otherathletes in the sport.
As we end this four-year Olympic cycle, hampered by
the Covid pandemic, I am proud of the way our Member
Federations, Area Associations, event organisers and

The total impact of hosting our three
World Athletics Series events in 2023
– including the World Athletics Cross
Country Championships in Bathurst,
Australia and our first World Athletics
Road Running Championships in Riga,
Latvia came to over US$421m. Thisdetailed research, collated by Nielsen,
is helping to demonstrate the strengthof hosting our events to future hostcities and partners.
A strong Wanda Diamond League saw over 1000 athletescompeting from 93 countries, with 381 athletes from 65
countries finishing in a top 3 position. Our Continental Tourreached a record high of 229 events across the world inwhich almost 16,000 athletes competed. The breadth anddepth of our talented athletes can be seen by almost 6000
athletes across these events recording a personal best andsetting 189 national records in 2023.
On the road 248 events were hosted by 57 countries in
2023, where over 11,000 athletes were joined by aroundfour million mass participation runners, signalling thecontinuing strong growth of global running.
Our athletes have excelled in 2023 and are far more active
and engaged in promoting athletics at all levels.
6

athletes have navigated the peaks and troughs. Despite many
events being cancelled or rescheduled almost US$40m of
our US$50m investment in developing our sport across theworld has been spent on competitions, development andeducation programmes and sport administration over thisquadrennial. We have invested an additional US$1 million inprize money at our World Athletics Championships, whichmeans that, together with our Local Organising Committees,
we distribute around US$24 million in prize money over the
four-year Olympic cycle. We have also grown our Continental
Tour from 20 events in 2020 to 229 events at the end of2023, all with opportunities for athletes to earn more money
and World Ranking points in their regions and areas.

Pioneering Change over the next four years
2024 will be an unprecedented year with five World Athletics
Series events and an Olympic Games. We will once again
show the World that athletics is the number one Olympic
sport as we reach the halfway point in our eight year growtharch from the Tokyo to the Los Angeles Olympic Games
The World will continue to be unsettled with geopolitics,
global economics and environmental concerns leading theway along with what is being described as the ‘mega-election
cycle’. Around half the people on the planet (4.2bn) will be
eligible to vote this year in more than 70 national elections.
Whilst the right to vote should always be encouraged, someof these will be hotly contested, causing their own domestic
and international upheaval.
History tells us that global instability comes hand in handwith a drop in innovation as the risk and uncertainty tends
to hamper imagination and innovation and drives businesses
into a bunker mentality. We are not going to let this happen.

Fortune may favour the brave, but a clear vision, supported
by a clear, well-structured strategic plan, focused on
innovation and change will guide us through any uncertainty
over the next four years.
Pioneering change is our focus for the next four years
with our plans detailed in a new strategy. In summary theheadlines are:• Hosting a major athletics global event to take place every
year which means launching a new global championshipevent in 2026.
• Increased and improved pace and entertainment valueof our Global and Area championships.
• A review of our rules to make sure they make our sport
better, not more complicated.

• Seeing the joy and thrill of run, jump, throw in its simplest
form implemented in all corners of the globe so weinspire the next generation of athlete or coach, official
or administrator. Almost half our Member Federations
participated in Kids’ Athletics Day and ran a Kids’
Athletics programme in their country in 2023. Over twothirds of our Member Federation participated in train
the trainer sessions in support in-country roll out andwe want to see this increase as we make our sport ananchor in the lives of young people.
• The retention and further development of more of thepeople we train which means giving more people a reason
to try our sport – at all levels - and stay in our sport.
Almost 14,000 people registered on our e-Learning
platform to do one or more of the courses by the end of2023, including our Safeguarding Course which has beena particular focus for our Member Federations in 2023.
• Giving people a reason to watch athletics by making ourathletes the stars of the show, more accessible, morefamous and more visible.
• But it all starts with our events andour competitions. More events that
attract more fans and broadcasters
means more money for our athletes
and for our Member Federations.
And this is the focus area for us
over the next four years:

1. President’s Report

WWW.WORLDATHLETICS.ORG– Faster paced and more excit
ing to watch, in the stadium
and at home, which means wehave a lot of work to do on
timetables and sport presentation together with our broad
casters as millions of our fanswatch our sport on television(linear and digital).
– More innovation across the board, not just the fieldof play, but ways to bring athletes and fans closer.
– More ways in which our athletes can be the stars
they deserve to be and can see a way to earning aliving from athletics.
In a decade from now we want people to look back at 2024
and say the decisions the sport made that year not only
future proofed the sport but significantly accelerated its
popularity and value. In the same way we look back at the2016 reforms which rebuilt our reputation and our credibility.

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WORLD ATHLETICS ANNUAL REPORT AND ACCOUNTS 2023

Not everyone will be a winner, but we won’t jettison anything
without a considered reason and looking to the future of
athletics. There is a time to listen and a time to act. We
have listened (and we will continue to listen) but 2024 is
the year to act.
Our focus on building our data is critical for innovation where
it matters as well as our ability to make tough decisions withconfidence. The extensive research we invested in during
the Budapest 2023 World Championships has provided us,
for the first time, with comprehensive data that can help us
to robustly evolve the sport for the future in an informed
and evidence driven way.
As always, my heartfelt thanks go to our athletes, ourMember Federations, Area Associations, our HQ team, ourCouncil and Executive Board. They have all contributed toan outstanding 2023 and I know they are all excited andpassionate about 2024 and the next four years of pioneeringchange. It will be hard work, but I am confident we have acollective momentum and resources to carry us forward.

Sebastian Coe
President of World Athletics

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WORLD ATHLETICS ANNUAL REPORT AND ACCOUNTS 2023

WORLD ATHLETICSWEBSITESOCIAL
MEDIA

18M

11.6M

USERS

OVERALL FOLLOWERS

↗ 19%

↗ 18%

4,269,621 ↗ 11%

39M

2,912,585 ↗ 19%↗ 15%

2,503,907 ↗ 21%

SESSIONS

1,478,000 ↗ 32%

137M

465,062

VIEWS

↗ 41%

↗ 14%

GROWTH SINCE 30 NOV 2022

MEDIA
RELATIONS11SHARE OF VOICEPRESSCONFERENCES
83.43% FIFA
5.28% IOC

89

PRESS
RELEASES

3.12% WORLD ATHLETICS
2.20% FIBA
1.96% WORLD RUGBY
1.67% UCI
1.51% ITF
0.33% FIVB

~150

0.31% WORLD AQUATICS
0.19% FIGPRESIDENT
INTERVIEWS
IN 29 COUNTRIESSENTIMENT8%POSITIVE

10

3%NEGATIVE

89%
NEUTRAL

MEDIAOPERATIONS

MEDIACOVERAGE
WORLD ATHLETICS COVERAGE
IN MAINSTREAM MEDIA:(NOVEMBER 22 TO OCTOBER 23)

442,521
506
PRESS

16

PRESS

20
PRESS

PHOTOGRAPHERS

#1

#2

#3

#4

#5

126,911

46,092

24,177

15,373

10,666WORLD
CHAMPIONSHIPSBUDAPEST 23

DIAMONDLEAGUE

2024
CONTINENTAL
SUMMERTOUR
OLYMPIC GAMES

2023
BOSTONMARATHON

TOP 5 ATHLETICS TOPICS

PHOTOGRAPHERS

PHOTOGRAPHERS

REACH

TOP 5 ATHLETICS EVENTS

30

28

24.6 BNARTICLES

285

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WWW.WORLDATHLETICS.ORG

#1

#2

#3

#4

#5

126,911

46,092

31,141

24,17722,547

WORLD
CHAMPIONSHIPSBUDAPEST 23

DIAMONDLEAGUEDOPING

2024
DEBATE OVER
SUMMER
TRANSGENDER
OLYMPIC GAMESATHLETESTOP 5 COVERAGE BY COUNTRY
#1

#2

#3

#4

#5

31%

8%

7%

7%

4%

UNITED
STATES

UNITED
KINGDOMCHINAGERMANYINDIA

3 MEDIA DEVELOPMENT PROGRAMMES IN 2023 WITH
37 YOUNG REPORTERS & PHOTOGRAPHERS
FROM ACROSS THE GLOBE

11

2.
OPERATIONSREPORTWORLD ATHLETICS ANNUAL REPORT AND ACCOUNTS 2023

2 . OP E RAT I O N S R EPOR T

2023 marks the end of the Olympic quadrennialwith revenues up 23%% over the four years andinvestment in competition, development, athlete
prize money and new data driven strategies doubling
expenses. The administration costs of the sportremained stable and cash reserves at the end of the
four-year period remained strong at US$33m.

REVENUE

EXPENSES

remained stable

down 2%=US$54m
GRANTSNEW INVESTMENT

remained stablein fan data strategy↗US$12m
30,000+athletes competed in 500 events

14↘US$70m↗US$2mIMPACT

US$421mof WAS events

At the end of the four-year Olympic cycle, which covered
the disrupted Covid pandemic years, revenue increased
23% from US$44.3m to US$54.2m at the end of 2023.
Significant investment in competitions particularly theContinental Tour which grew from 28 events to 229 overthe four years rose 136%. Grants for Member Federation
and Area Association development and competition
grew by 45% over the same period. The introduction ofan additional US$1m in athlete prize money at the WorldChampionships means we now distribute, together with
our Local Organising Committees, around US$12m in prize
money to athletes every two years. We have also invested
substantial funding into new data and research (US$1.8m),
which altogether, increased expenses over the four years
by 69% from US$41.7m in 2020 to US$70.6m at the endof 2023.

A strong focus and commitment to managing HQ head countand costs, whilst continuing, with the generous provision forcompanies based in Monaco, to keep staff salaries constantduring furlough, administration expenses increased by lessthan 1% over the four-year period remaining flat at US$6.7m
in 2023.

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WORLD ATHLETICS ANNUAL REPORT AND ACCOUNTS 2023

A . A S olid 2023 La ys Fo u n d a tion for Nex t Fou r Ye a r G row t h
Whilst total revenue from Televisions Rights & Sponsorshipsaw a slight decrease in 2023, (US$46.3m vs $48.7m), otherrevenues, including monies from RusAF, Kenya and the LabelRoad Race Programme increased by 27% which helped
revenue remain broadly flat for the period at US$54.2m.
Reassured by a solid cash position at the end of 2022,
World Athletics continued to invest sensibly in competitionand development, leaving a favourable cash position at theend of 2023 of US$33m.
The Grant for Growth programme, for member federations
to implement projects to support the World Plan 20222030, received a 76% uplift in funds during the year which
was offset by a 15% decrease in competition spend due
to staging three World Athletics Series events in 2023 as
opposed to four in 2022. This resulted in total expenditure
remaining broadly flat, year on year, at US$70m.
Continued focus on maintaining headcount and overall head
office spending contributed to administration expenses
remaining stable at US$7m in 2023.
A strong representation of athletes at the World Athletics
Series events, the one-day meeting circuit and the World
Athletics Road label races saw over 30,000 athletes from173 countries competing in 500 events throughout theyear. Just within the 229 Continental Tour Events, almost
6,000 athletes set personal bests and 189 National records.
The World Athletics Congress in Budapest saw the reelection of Sebastian Coe as President of World Athletics,
a new Council with 50% gender parity four years ahead oftarget, and a new Executive Board.
The World Athletics Convention, held just before
Congress, provided the opportunity for the sport
to come together to discuss and debate the macro
forces of change that will impact the future ofsport. Themes that address the rapid changes to
how fans and partners interact with, and consume,
sports; the importance of sports as a force forgood in a more purpose driven world; the uniquerole that sports’ organisations have in generating
positive health outcomes across around the world
and the need to effectively measure the impactsof events locally, nationally and globally. The
result of these discussion groups were key to thedevelopment of the Pioneering Change strategy
for the next four years.

16

Investment in educating and training people at all levels of
athletics continued in 2023. We saw an encouraging increase
in registrations for courses on our eLearning platform, manyof which are now available in seven languages. 97% ofMember Federations are now registered, leading to 14,000
people from 207 countries signing up for at least one courseby the end 2023.
The World Athletics Safeguarding Policy, which encouraged
all Member Federations to have their own safeguarding
policy and procedures in place by 31 December 2023
was supplemented with new materials and a Safeguarding
Essentials online training course in the last quarter of2023. The course, which is now mandatory for all athletes’
representatives and is being incorporated into coaches’ andtechnical officials’ courses, has been further strengthened
following World Athletics’ Council to adopt new Safeguarding
Rules in August 2023. These new rules focus on a risk-based
approach and the appointment of Sport Resolutions as the
Secretariat for the Safeguarding Case Management Group.
Almost half our Member Federations (106), joined in Kids
Athletics’ Day with some 300,000 children participatingin activities. Also 157 Member Federations have now
completed the Kids’ Athletics Train the Trainer programme
which aims to ensure resources are available locally aroundthe world to drive this programme forward.
The three new partners we announced in 2023 have been
joined by another two - Sony and Morinaga - announced
earlier this year helping to further increase revenues for2024.

B. 2 0 2 3 Revenue, Ex pend itu re, Develop m ent a t a G la n ce
Revenue:

Expenditure:

US$54.2m

US$70.6m
9.5%

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14.6%
23.8%
50.1%
85.4%
16.6%

Competition & Events

Broadcast, Commercial rights& Value in Kind

Grants & Development

Other Income

Legal & Compliance
Administration

Global Distribution of 2023 Area Competition Grant Per Category

23%2023 Member Federation Grant Overall Distribution

Administration of
the Federation

25%

Area Championships
45%

Regional Championships“One Day” meets

15%

62%

Participation inregional/continental
championships

30%2023 Overall Distribution of Grants

2023 Grant for Growth Overall Distribution

Africa12

Asia
EuropeNACAC

24%

MF Administration

4%

Competitions
Education

11%

16

Oceania

Area Administration

15%
34

15

8%

22

South America
33

Organisation of national
championships

38%

Athlete Development
Youth and Grassroots
Programmes

Number of Member Federations per Area

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WORLD ATHLETICS ANNUAL REPORT AND ACCOUNTS 2023

18

C. 2 0 2 0 -2023 S tra te gic Pla n for G row t h Review
Much has been achieved in the last four years, with the‘Strategy for Growth’ plan. It was created on the back offour years of high profile, widespread and much neededreform across the sport, with the aim of using the solid andsecure reform foundations to enable the sport of athletics
to flourish and grow. This it did despite the Covid 19 global
pandemic which severely impacted our events in 2020
and 2021.
With fewer events taking place around the world in thefirst two years of this strategy, this hiatus was not wasted.
Our HQ, Area and Member Federation teams spent thattime scoping programmes, strategies and initiatives anddeveloping educational tools, platforms and activities toengage and entertain core stakeholders in the sport. These
have successfully formed strong foundations that we arebuilding on.
The last four years also saw a step change in the scaleof events, education, training and skills development andathlete prize money.
This investment was largely due, despite the Covid-19
pandemic, to our increased revenues from circa US$50m
per annum to US$55m per annum.

Federations and over 25,000 individuals from 175 countries.
We launched virtual Member Federation Sessions to share
information, consult on decisions, present strategy anddirectly connect the work at World Athletics’ HQ with ourFederations. These monthly sessions proved enormously
popular and continue today.

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Tools were also developed to assist Member Federations
in grant applications, social media tracking and annual
reporting, creating a more automated process which was
simpler to use and provided more analysis and information
for Federations and HQ.
In 2023 we also established our innovations team andconducted for the first time deep fan and product researchat the World Athletics Championships in Budapest. This wasjust the start but the findings from this event and future
events will help us make good and brave decisions basedon data.
A full review of the Strategy for Growth plan can be foundin the new four-year strategy Pioneering Change that willtake us from 2024-2027. However, the following scorecard
illustrates the progress and delivery on the goals set in 2020.

During this period the World Plan for Athletics 20222030 was developed with input from 85% of our Member

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WORLD ATHLETICS ANNUAL REPORT AND ACCOUNTS 2023

1 5 O F 16 ST RAT EGI C G OA LS D E L I VE R E D (2 0 2 2 -23)
M O R E FA N S

M O R E PA R T I CI PAT I ON

Delivery Goal: We will attract more fans to attend andwatch our athletes compete at national, regional andglobal competitions and develop platforms and initiatives
that are flexible and reflect the world we live in today toengage with and inspire our fans.

Delivery Goal: We will invest in our athletes and thedevelopment of our competitions by delivering more events
where athletes can earn income and create more
opportunities for people to participate in athletics across alllevels, in as many countries as we can and in all age groups.

× Half a million known fans registered by end of✓World Indoor Tour and Continental Tour 1-day

2023, half the target of 1 million that was set
at the beginning of the strategic plan. A new
approach and resources were defined in 2021
which resulted in a step change that we areconfident will continue through the next fouryear strategic plan.

✓Social media followers increased from 2m to

12m following a thorough review and revampof our platforms and our fans and a laser-like
focus on significantly improving the content
we create and where we invested additional
resources and on which platforms. Annual
media reach topped 25bn and athletics again
became the No.1 Olympic Sport at the Tokyo
2020 Olympic Games.
✓Audited digital consumption of our World
Outdoor Championships rose from ~4mviewer hours in 2019 to over 14m in 2023(+208% growth).
✓Full stadia was achieved at the Budapest 23
World Athletics Championships – generally
referred to as the best World Championships
event ever staged.

↗ 208%

AUDITED DIGITAL CONSUMPTION OF OURWORLD OUTDOOR CHAMPIONSHIPS IN VIEWER HOURS UP 208%

20

meetings, created and sanctioned by World
Athletics, increased from just over 20 to almost
300, including the launch of CTG in 5 of the 6
Areas. Plus 257 Road Race Label events in 53
countries attracting 4M participants in 2023.
✓Around 20,000 athletes competed in 250
top-flight Championships and 1 Day meetings(excl Road) in 2023.
✓Almost half our Member Federations running
Kids’ Athletics programmes in their country
reaching half a million children in 2023 with
157 Federations having completed the train
the trainer programme.

MOR E P EO P L E

M O R E PA R T N E R S H I PS

Delivery Goal: We will celebrate, support and develop the
people who deliver our sport throughout the world, atevery level, providing clear access and pathways for all.

Delivery Goal: We will create more partnerships withcommercial and non-commercial organisations thatgenerate financial and activation value and opportunities
for our sport, our athletes, our Member Federations andglobal communities.

✓Investment in eLearning platform and courses✓Commercial partnerships (incl TBS andhas seen registered users rise from under
1,000 to 14,000. And from 2 online courses in2020 to 14 courses with a third of them in 7
languages. 97% of Federations registered.
✓Council gender targets met four years early ina groundbreaking election in 2023 that saw
World Athletics become the first InternationalSporting Federation to have equal female andmale representation on its decision-making
Council.
✓Member Federation skills to drive growth
was delivered through the creation of theWorld Plan, Member Federation Info Sessions,
webinars, workshops and presentations.

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EBU) increased from 5 to 10, including the
introduction of new supplier level.
✓Increased partner activation took place atboth the Oregon22 and Budapest23 World
Athletics Championships.

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WORLD ATHLETICS ANNUAL REPORT AND ACCOUNTS 2023

D. Pione e r ing Cha nge S tra te g ic Pla n 2024- 2027
The strategic priorities of the 2024-2027 Strategic
Plan builds on the four pillars of the last strategy – More
Participation, More People, More Fans, More Partnerships.
A fifth pillar – Event Innovation – has been added as afoundation pillar to ensure the organisation, and thesport more widely, remains focused on this area. A crossfunctional strategy team has been put in place with clear
goals, objectives and outcomes to ensure this remains afocus for World Athletics.
Across the five pillars specific goals and desired outcomes
have been outlined which can be found in the full Pioneering
Strategy 2024-2027 here. A summary of the four-year
goals are:• Differentiate and innovate our events and improve thequality of formats, disciplines and rules through thecreation of a robust, data driven focus on the athletics
product and innovation which we test thoroughly before
implementing.
• Deliver World Class Championship events; end theseason with a new or existing global championshipevent and support one-day meetings, we both lead or
influence, so we can consistently showcase the best
athletes and create must watch competition for fans.

More Participation

Maximise participation at every
level of the sport and investingin elite athlete development

More People

Continue to invest in moreresources to deliver our sport
around the world at all levels

More Fans

More global fans choosing
athletics through personalised
access to content and athletesMore Partnerships

Evolve our sponsorship model
to enable a broader range ofpartnerships• Create new events and increase the quality of existingregional and global events to create clearer reasons forathletes to compete and fans to engage.
• Create more opportunities and reasons for people of allages to participate in athletics (Kids Athletics, Masters,
Para Athletics, Beach, City and Mountain, etc).
• Recruit, retain, reward and educate people in our sportand create more ways for them to be part of global
athletics regardless of region, age or level.
• Acknowledge our appreciation and reward the vital
contribution of our volunteers by creating a certification
programme based on skills.
• Build a global fanbase of millions of known fans withwhom we can communicate on a regular basis.
• Empower and equip Member Federations and Areas toimpactfully contribute to the growth of athletics (KPIs
set through World Plan).
• Increase
Business-to-Consumer
sponsorshiprevenue and grow non-event partnership programme
opportunities.
• Further increase prize money for athletes through ourannual existing and new Championship events anddeliver partnership opportunities to help elite athletes
build professional career pathways and increase revenue.

Innovation
Competition
Streamlined World Championships
proposition and discipline
innovation
Fans
Designing new products andservices to reach new audiences
Brand
World Athletics IP extensions
outside of event delivery
Delivery
1-day meetings, out of stadiumrunning, Regional Championships
Commercial
Reimagined partnerships withathletes, ARs and shoe companies

Underpinned by our Brilliant Basics:
Global network of People; Strong and connected Member Federations
and Areas; Best in class Governance; Active & engaged key influencers;
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WORLD ATHLETICS ANNUAL REPORT AND ACCOUNTS 2023

E . 2 0 2 4 Key Pr iority Are as
The 2024 annual business plan developed by World Athletics
HQ and approved and monitored by the Executive Board
corresponds to the four-year strategy. The key priorities
for the organisation in this coming year are:• Delivering 5 WAS events across 3 Continents and an
Olympic Games in Paris where we intend to cement ourNo. 1 Olympic Sport position.
• Delivering 1 million known fans. This means increasing
our known fans from 500,000 to 1 million by the endof 2024. Investing time and money into making sure wehave the platform and the content to engage more with
our fans.
• Developing and launching the new 2026 Global
Championship event will be a key deliverable in 2024.
Through the detailed research we conducted during theBudapest World Championships with fans (in stadium
and at home), broadcasters and our athletes, we havesome strong, evidence-based insights and stats that weare using to create this event.
• Identifying the host for the 2027 World Championships
is also a critical decision this year as it is our showcase
event ahead of the LA 28 Olympic Games. We aredelighted that Beijing has been awarded this event.

24• Innovating the athletics product. There are four key
areas of focus – again using the research collectedduring the Budapest World Championships.
– Calendar reconfiguration so we end each season
with a showcase World Championship Event– Timetable evolution to increase the pace andexcitement of competition– Discipline reform, particularly in the field, to elimi
nate the significant amount of time when athletes
are waiting rather than competing– Out of Stadium strategy which is exploring the
growth of road and off-road competition which issuch an important part of our sport.

F. MF Grant fo r Grow th Ca s e S tu d ies
Athletics Federation of Pakistan
Project title: Youth athletics grassroots programme
World Plan Strategic Goal: Development pathways – from school to the world stage (More Participation)

2. Operations Report

WWW.WORLDATHLETICS.ORG• Objective: Work with athletics clubs to establish and/or strengthen direct links between clubs/leagues and local schools
The aim of the AFP youth athletics grassroots programme was to encourage athletics participation among school-goingyouth, especially girls. Funding was used to deliver athletics in schools with a total of 78 schools and over 1,500 young
people (1,086 boys and 469 girls) involved. The initiative promoted athletics as a healthy pastime but also integrated it into
school culture, setting the stage for a development pathway from local level to the national stage. This effort highlighted
significant achievements, such as the inclusion of girls from traditionally conservative regions and the establishment of
athletics as a core activity within participating schools.
By collaborating with local governments and leveraging the enthusiasm of the community, the AFP successfully organised
events and fostered a positive environment for athletics achieving the federation’s strategic goal of increasing participation
in athletics.

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Federación Atlética de Bolivia
Project title: National team athletes support
World Plan Strategic Goals:• Development pathways – from school to the world stage (More Participation)– Objective: Work with clubs/ leagues to provide opportunities and a pathway for sustained participation• Visibility of the sport (More Fans)– Objective: Continue to invest in Area and National championships
The project enabled the participation of national team athletes in key competitions including the South American Cross
Country Championships, the Pan American Race Walking Championships, the South American U20 Championships, theSouth American Half Marathon, and the Ibero-American U18 Championships. Participation in these events supported
both development and enhancement of the athletes’ profile in the Bolivian athletics community.
In addition, to support elite athlete development, a new photofinish camera system was acquired to address the need forreliable timing equipment to meet World Athletics competition regulations. The combined efforts in athlete development
and technological advancement contributed to the growth of athletics in Bolivia and marked the initiative’s success inincreasing participation and visibility of the sport.

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Athletics South Africa
Project title: Women in sports
World Plan Strategic Goals:• Gender equality (More People)– Objective: Create a targeted recruitment plan for female administrators, coaches, and officials

2. Operations Report

WWW.WORLDATHLETICS.ORG• Safeguarding (More People)– Objective: Adopt policy and implement safeguarding measures
The project aimed to recruit female administrators, coaches, and officials, and set a robust foundation for inclusivity andsafety in athletics, including the adoption and implementation of a safeguarding policy. Over 500 officials, coaches, andclub administrators were trained in safeguarding, and the seminars and workshops have also led to the empowermentof females, encouraging their full participation in athletics and a more balanced and equitable sporting environment.
The successful implementation of these initiatives marked a shift towards creating a safer and more inclusive athletics
community in South Africa.

Bulgarian Athletic Federation
Project title: Safeguarding Phase 1
World Plan Strategic Goals:• Safeguarding (More People)– Objective: Adopt policy and implement safeguarding measures
The Bulgarian Athletic Federation’s project, “Safeguarding Phase 1”, aimed at embedding the principles of safeguarding
within the sports community of Bulgaria. The project sought to adapt the World Athletics Safeguarding Policy to Bulgarian
legislation, train safeguarding officers, and disseminate knowledge across the athletic community. Key outcomes included
the training of two safeguarding officers, completion of safeguarding and mediation training, and widespread awarenessthrough training of over 150 technical officials, 125 clubs, 200 coaches, and more than 3,000 athletes. A dedicatedsafeguarding platform and a 24-hour hotline were established, marking a significant step towards creating a safer sports
environment in Bulgaria.
The project’s success illustrates the federation’s commitment to the well-being of its community, ensuring that athletics
in Bulgaria is accessible, safe, and welcoming for all participants and contributing to the strategic goal of increasing
participation in the sport.

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WORLD ATHLETICS ANNUAL REPORT AND ACCOUNTS 2023

Federated States of Micronesia (FSM) Athletic Association
Project title: Revitalising Athletics in FSM ProjectWorld Plan Strategic Goals:• Development opportunities (More People)– Objective: Organise the practical elements of training courses in-country
The project to provided development opportunities for more people, promoting gender equity, and enhancing the skillsof technical officials and coaches. This included upskilling local elementary school teachers as Kids’ Athletics coaches,
promoting gender leadership through targeted seminars, and refreshing technical rules knowledge for officiating at events
such as the OAA Cup.
The project’s outcomes were significant, the number of coaches and teachers delivering Kids’ Athletics increased from three
to 15, marking a 70% increase, and led to a 70% increase in Kids’ Athletics participation in schools. In addition, technicalofficials received training, enhancing their capabilities by 70% and contributing to the enhanced national championships’
success. These achievements underscore the project’s role in fostering a sustainable growth environment for athletics in FSM.

Grenada Athletic Association
Project title: Spice Athletics Transformation ProjectWorld Plan Strategic Goals:• Visibility of the sport (More Fans)– Objective: Build profile of the nations’ elite athletes and national teams
The project aimed to integrate modern technology in its operations and enhance communications within the athletics
community through a new database management system for athlete data, an intranet for improved communication, arevamped GAA federation website, and a ranking system to categorise athletes. These initiatives helped modernise
the federation’s infrastructure, ensuring efficient operation, and fostering a closer connection among athletes, officials,
and fans.

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G . A S usta ina ble Future for At h letic s
When World Athletics developed its sustainability strategy
and launched it in 2020, we knew that it was critical tobring all events under our remit along with us to create thewidest possible front from across the sport of athletics
to tackle, together, the triple planetary threat of climatechange, pollution, and biodiversity loss.
We did so guided by the recognition that while our events dohave an impact on the environment and are being impacted
by the changing climate, they also wield the power to help
push for some of the changes necessary to meaningfully
address the challenges we face.
After two years of planning and a year of testing and piloting
in 2023, that journey finally began with the implementationof our Athletics for a Better World Standard, an evaluation
system that’s at the heart of the World Athletics Sustainability
Strategy.
The ABW Standard measures and scores an event’s
achievement in sustainable delivery, and in delivering an
event in alignment with the six pillars of the World Athletics
Sustainability Strategy. The sustainability management
system that provides us with the framework to manage
and deliver our Sustainability Strategy achieved ISO
20121 Sustainable Event certification in April 2023, further
underpinning our efforts to drive the ABW Standard forward.

Since it was unveiled in December 2021, organisers of morethan 300 one-day competition series events and label roadraces have been introduced to the ABW standard. Several
dozen piloted key components, providing valuable input
prior to its implementation.
The standard is also being incorporated into the deliveryof all seven World Athletics Series events, including theWorld Athletics Championships, the largest sporting
event in the world, in terms of the number of athletes andcountries participating, after the Olympic Games. Cities
bidding to host upcoming World Athletics Series events,
for which bids launched in the second half of 2023, will
be required contractually to commit to a high standard ofdelivery, making sustainability a core feature of all future
World Athletics championships events.

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From 2024, compliance with the standard will be built into
World Athletics’ broader competition evaluation system,
making sustainability reporting a requirement for over 450
events from 85 countries on six continents that are part ofour label and tour event series.

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WORLD ATHLETICS ANNUAL REPORT AND ACCOUNTS 2023

World Athletics continued its Champions for a Better
World programme, launched in 2022, designed toencourage athletes to take a more active, visible andvocal role in addressing environmental concerns.
In a survey of more than 400 athletes who competedat the World Athletics Championships in Budapest
in 2023:→ 90% said that World Athletics has a role toplay to help build a sustainable future.

→ 77% of athletes are very concerned aboutclimate change.

→ More than 85% reporting that climatechange has already impacted our sport.

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APPENDICESWORLD ATHLETICS ANNUAL REPORT AND ACCOUNTS 2023

AP P E NDIX A – 2 023 AU D I T E D FI N A N CI A L
STATE M EN TS
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FINANCIAL REPORT 2023

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INDEPENDENT AUDITOR’S REPORT͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘͘ϳ
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Appendix A – 2023 Audited Financial Statements

WWW.WORLDATHLETICS.ORG

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WORLD ATHLETICS ANNUAL REPORT AND ACCOUNTS 2023

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Appendix A – 2023 Audited Financial Statements

WWW.WORLDATHLETICS.ORG

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WORLD ATHLETICS ANNUAL REPORT AND ACCOUNTS 2023yhd/sKZDDZ^

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40

STATEMENT OF EXECUTIVE BOARD RESPONSIBILITIES
2023 CONSOLIDATED FINANCIAL STATEMENTS
In addition to the basic financial reporting requirements set out in the statutes of World Athletics ("theAssociation"), the Executive Board undertakes to prepare consolidated financial statements for eachfinancial period which give a true and fair view of the state of affairs of the Association as at the end of thefinancial period, of the surplus or loss and of the cash flow statement of the Association for that period.
In preparing those consolidated financial statements, the Executive Board considers that the Association
has used appropriate accounting policies in accordance with the note A and B of the consolidated financial
statements, consistently applied and supported by reasonable judgments and estimates, that all
accounting standards which they consider to be applicable have been followed and that the preparationof the consolidated financial statements on a going concern basis is appropriate.

Appendix A – 2023 Audited Financial Statements

WWW.WORLDATHLETICS.ORG

The Executive Board has responsibility for ensuring that the Association keeps accounting records, which
disclose with reasonable accuracy the financial position of the association.
The Executive Board has general responsibility for taking such steps as are reasonably open to them tosafeguard the assets of the Association and to prevent and detect fraud and other irregularities.
Approved by the Executive Board.
And signed on behalf of World Athletics.
As of 15 July 2024

Sebastian COE
President

Vineesh KOCHHAR
Chief Operating Officer

WORLD ATHLETICS FINANCIAL REPORT | p. 6

41

WORLD ATHLETICS ANNUAL REPORT AND ACCOUNTS 2023

Independent Auditor’s Report 
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Independent auditor’s report on consolidated financial statementsdŽƚŚĞǆĞĐƵƚŝǀĞŽĂƌĚŽĨtŽƌůĚƚŚůĞƚŝĐƐ͕KƉŝŶŝŽŶtĞŚĂǀĞĂƵĚŝƚĞĚƚŚĞĐŽŶƐŽůŝĚĂƚĞĚĨŝŶĂŶĐŝĂůƐƚĂƚĞŵĞŶƚƐŽĨtŽƌůĚƚŚůĞƚŝĐƐĂŶĚŝƚƐƐƵďƐŝĚŝĂƌŝĞƐ;ŚĞƌĞĂĨƚĞƌƌĞĨĞƌƌĞĚƚŽ
as the “Association”Ϳ͕ǁŚŝĐŚĐŽŵƉƌŝƐĞƚŚĞĐŽŶƐŽůŝĚĂƚĞĚďĂůĂŶĐĞƐŚĞĞƚĂƐŽĨĞĐĞŵďĞƌϯϭ͕ϮϬϮϯ͕ƚŚĞĐŽŶƐŽůŝĚĂƚĞĚƐƚĂƚĞŵĞŶƚŽĨĐŽŵƉƌĞŚĞŶƐŝǀĞŝŶĐŽŵĞ͕ƚŚĞĐŽŶƐŽůŝĚĂƚĞĚƐƚĂƚĞŵĞŶƚŽĨĐŚĂŶŐĞƐŝŶĞƋƵŝƚǇ͕ƚŚĞĐŽŶƐŽůŝĚĂƚĞĚƐƚĂƚĞŵĞŶƚŽĨĐĂƐŚĨůŽǁƐĨŽƌƚŚĞǇĞĂƌƚŚĞŶĞŶĚĞĚ͕ĂŶĚƚŚĞŶŽƚĞƐƚŽƚŚĞĐŽŶƐŽůŝĚĂƚĞĚĨŝŶĂŶĐŝĂůƐƚĂƚĞŵĞŶƚƐ͕ŝŶĐůƵĚŝŶŐĂƐƵŵŵĂƌǇŽĨƐŝŐŶŝĨŝĐĂŶƚĂĐĐŽƵŶƚŝŶŐƉŽůŝĐŝĞƐ͘dŚĞƐĞĨŝŶĂŶĐŝĂůƐƚĂƚĞŵĞŶƚƐǁĞƌĞĂƉƉƌŽǀĞĚďǇƚŚĞǆĞĐƵƚŝǀĞŽĂƌĚ͘/ŶŽƵƌŽƉŝŶŝŽŶ͕ƚŚĞĂĐĐŽŵƉĂŶǇŝŶŐĐŽŶƐŽůŝĚĂƚĞĚĨŝŶĂŶĐŝĂůƐƚĂƚĞŵĞŶƚƐƉƌĞƐĞŶƚĨĂŝƌůǇ͕ŝŶĂůůŵĂƚĞƌŝĂůƌĞƐƉĞĐƚƐ͕ƚŚĞĐŽŶƐŽůŝĚĂƚĞĚĨŝŶĂŶĐŝĂůƉŽƐŝƚŝŽŶŽĨƚŚĞƐƐŽĐŝĂƚŝŽŶĂƐĂƚĞĐĞŵďĞƌϯϭ͕ϮϬϮϯ͕ĂŶĚŝƚƐĐŽŶƐŽůŝĚĂƚĞĚĨŝŶĂŶĐŝĂůƉĞƌĨŽƌŵĂŶĐĞĂŶĚĐŽŶƐŽůŝĚĂƚĞĚĐĂƐŚĨůŽǁƐĨŽƌƚŚĞǇĞĂƌƚŚĞŶĞŶĚĞĚ͕ŝŶĂĐĐŽƌĚĂŶĐĞǁŝƚŚ/ŶƚĞƌŶĂƚŝŽŶĂů&ŝŶĂŶĐŝĂůZĞƉŽƌƚŝŶŐ^ƚĂŶĚĂƌĚƐĂƐĂĚŽƉƚĞĚďǇƚŚĞƵƌŽƉĞĂŶhŶŝŽŶ͘ĂƐŝƐĨŽƌKƉŝŶŝŽŶtĞĐŽŶĚƵĐƚĞĚŽƵƌĂƵĚŝƚŝŶĂĐĐŽƌĚĂŶĐĞǁŝƚŚ/ŶƚĞƌŶĂƚŝŽŶĂů^ƚĂŶĚĂƌĚƐŽŶƵĚŝƚŝŶŐ;/^ƐͿ͘KƵƌƌĞƐƉŽŶƐŝďŝůŝƚŝĞƐƵŶĚĞƌƚŚŽƐĞƐƚĂŶĚĂƌĚƐĂƌĞĨƵƌƚŚĞƌĚĞƐĐƌŝďĞĚŝŶƚŚĞAuditor’s Responsibilities for the Audit of the Financial StatementsƐĞĐƚŝŽŶŽĨŽƵƌƌĞƉŽƌƚ͘tĞĂƌĞŝŶĚĞƉĞŶĚĞŶƚŽĨƚŚĞƐƐŽĐŝĂƚŝŽŶŝŶĂĐĐŽƌĚĂŶĐĞǁŝƚŚƚŚĞ/ŶƚĞƌŶĂƚŝŽŶĂůŽĚĞŽĨƚŚŝĐƐĨŽƌWƌŽĨĞƐƐŝŽŶĂůĐĐŽƵŶƚĂŶƚƐ;ŝŶĐůƵĚŝŶŐ/ŶƚĞƌŶĂƚŝŽŶĂů/ŶĚĞƉĞŶĚĞŶĐĞ^ƚĂŶĚĂƌĚƐͿ;/^ŽĚĞͿƚŽŐĞƚŚĞƌǁŝƚŚƚŚĞĞƚŚŝĐĂůƌĞƋƵŝƌĞŵĞŶƚƐƚŚĂƚĂƌĞƌĞůĞǀĂŶƚƚŽŽƵƌĂƵĚŝƚŽĨĐŽŶƐŽůŝĚĂƚĞĚĨŝŶĂŶĐŝĂůƐƚĂƚĞŵĞŶƚƐŝŶDŽŶĂĐŽ͕ĂŶĚǁĞŚĂǀĞĨƵůĨŝůůĞĚŽƵƌŽƚŚĞƌĞƚŚŝĐĂůƌĞƐƉŽŶƐŝďŝůŝƚŝĞƐŝŶĂĐĐŽƌĚĂŶĐĞǁŝƚŚƚŚĞƐĞƌĞƋƵŝƌĞŵĞŶƚƐĂŶĚƚŚĞ/^ŽĚĞ͘tĞďĞůŝĞǀĞƚŚĂƚƚŚĞĂƵĚŝƚĞǀŝĚĞŶĐĞǁĞŚĂǀĞŽďƚĂŝŶĞĚŝƐƐƵĨĨŝĐŝĞŶƚĂŶĚĂƉƉƌŽƉƌŝĂƚĞƚŽƉƌŽǀŝĚĞĂďĂƐŝƐĨŽƌŽƵƌŽƉŝŶŝŽŶ͘KƚŚĞƌ/ŶĨŽƌŵĂƚŝŽŶ
Other information consists of the information, other than the financial statements and our auditor’s report thereon.
DĂŶĂŐĞŵĞŶƚŝƐƌĞƐƉŽŶƐŝďůĞĨŽƌƚŚĞŽƚŚĞƌŝŶĨŽƌŵĂƚŝŽŶ͘KƵƌŽƉŝŶŝŽŶŽŶƚŚĞĨŝŶĂŶĐŝĂůƐƚĂƚĞŵĞŶƚƐĚŽĞƐŶŽƚĐŽǀĞƌƚŚĞŽƚŚĞƌŝŶĨŽƌŵĂƚŝŽŶĂŶĚǁĞĚŽŶŽƚĞǆƉƌĞƐƐĂŶǇĨŽƌŵŽĨĂƐƐƵƌĂŶĐĞĐŽŶĐůƵƐŝŽŶƚŚĞƌĞŽŶ͘

tKZ>d,>d/^&/EE/>ZWKZdͮƉ͘ϳ42/ŶĐŽŶŶĞĐƚŝŽŶǁŝƚŚŽƵƌĂƵĚŝƚŽĨƚŚĞĨŝŶĂŶĐŝĂůƐƚĂƚĞŵĞŶƚƐ͕ŽƵƌƌĞƐƉŽŶƐŝďŝůŝƚǇŝƐƚŽƌĞĂĚƚŚĞŽƚŚĞƌŝŶĨŽƌŵĂƚŝŽŶĂŶĚ͕ŝŶĚŽŝŶŐƐŽ͕ĐŽŶƐŝĚĞƌǁŚĞƚŚĞƌƚŚĞŽƚŚĞƌŝŶĨŽƌŵĂƚŝŽŶŝƐŵĂƚĞƌŝĂůůǇŝŶĐŽŶƐŝƐƚĞŶƚǁŝƚŚƚŚĞĨŝŶĂŶĐŝĂůƐƚĂƚĞŵĞŶƚƐŽƌŽƵƌŬŶŽǁůĞĚŐĞŽďƚĂŝŶĞĚŝŶƚŚĞĂƵĚŝƚŽƌŽƚŚĞƌǁŝƐĞĂƉƉĞĂƌƐƚŽďĞŵĂƚĞƌŝĂůůǇŵŝƐƐƚĂƚĞĚ͘/Ĩ͕ďĂƐĞĚŽŶƚŚĞǁŽƌŬǁĞŚĂǀĞƉĞƌĨŽƌŵĞĚ͕ǁĞĐŽŶĐůƵĚĞƚŚĂƚƚŚĞƌĞŝƐĂŵĂƚĞƌŝĂůŵŝƐƐƚĂƚĞŵĞŶƚŽĨƚŚŝƐŽƚŚĞƌŝŶĨŽƌŵĂƚŝŽŶ͕ǁĞĂƌĞƌĞƋƵŝƌĞĚƚŽƌĞƉŽƌƚƚŚĂƚĨĂĐƚ͘tĞŚĂǀĞŶŽƚŚŝŶŐƚŽƌĞƉŽƌƚŝŶƚŚŝƐƌĞŐĂƌĚ͘ZĞƐƉŽŶƐŝďŝůŝƚŝĞƐŽĨDĂŶĂŐĞŵĞŶƚĂŶĚdŚŽƐĞŚĂƌŐĞĚǁŝƚŚ'ŽǀĞƌŶĂŶĐĞĨŽƌƚŚĞĐŽŶƐŽůŝĚĂƚĞĚ&ŝŶĂŶĐŝĂů^ƚĂƚĞŵĞŶƚƐDĂŶĂŐĞŵĞŶƚŝƐƌĞƐƉŽŶƐŝďůĞĨŽƌƚŚĞƉƌĞƉĂƌĂƚŝŽŶĂŶĚĨĂŝƌƉƌĞƐĞŶƚĂƚŝŽŶŽĨƚŚĞĐŽŶƐŽůŝĚĂƚĞĚĨŝŶĂŶĐŝĂůƐƚĂƚĞŵĞŶƚƐŝŶĂĐĐŽƌĚĂŶĐĞǁŝƚŚ/ŶƚĞƌŶĂƚŝŽŶĂů&ŝŶĂŶĐŝĂůZĞƉŽƌƚŝŶŐ^ƚĂŶĚĂƌĚƐĂƐĂĚŽƉƚĞĚďǇƚŚĞƵƌŽƉĞĂŶhŶŝŽŶ͕ĂŶĚĨŽƌƐƵĐŚŝŶƚĞƌŶĂůĐŽŶƚƌŽůĂƐDĂŶĂŐĞŵĞŶƚĚĞƚĞƌŵŝŶĞƐŝƐŶĞĐĞƐƐĂƌǇƚŽĞŶĂďůĞƚŚĞƉƌĞƉĂƌĂƚŝŽŶŽĨĐŽŶƐŽůŝĚĂƚĞĚĨŝŶĂŶĐŝĂůƐƚĂƚĞŵĞŶƚƐƚŚĂƚĂƌĞĨƌĞĞĨƌŽŵŵĂƚĞƌŝĂůŵŝƐƐƚĂƚĞŵĞŶƚ͕ǁŚĞƚŚĞƌĚƵĞƚŽĨƌĂƵĚŽƌĞƌƌŽƌ͘/ŶƉƌĞƉĂƌŝŶŐƚŚĞĐŽŶƐŽůŝĚĂƚĞĚfinancial statements, management is responsible for assessing the Association’sĂďŝůŝƚǇƚŽĐŽŶƚŝŶƵĞĂƐĂŐŽŝŶŐĐŽŶĐĞƌŶ͕ĚŝƐĐůŽƐŝŶŐ͕ĂƐĂƉƉůŝĐĂďůĞ͕ŵĂƚƚĞƌƐƌĞůĂƚĞĚƚŽŐŽŝŶŐĐŽŶĐĞƌŶĂŶĚƵƐŝŶŐƚŚĞŐŽŝŶŐĐŽŶĐĞƌŶďĂƐŝƐŽĨĂĐĐŽƵŶƚŝŶŐƵŶůĞƐƐŵĂŶĂŐĞŵĞŶƚĞŝƚŚĞƌŝŶƚĞŶĚƐƚŽůŝƋƵŝĚĂƚĞƚŚĞŶƚŝƚǇŽƌƚŽĐĞĂƐĞŽƉĞƌĂƚŝŽŶƐ͕ŽƌŚĂƐŶŽƌĞĂůŝƐƚŝĐĂůƚĞƌŶĂƚŝǀĞďƵƚƚŽĚŽƐŽ͘

Appendix A – 2023 Audited Financial Statements

WWW.WORLDATHLETICS.ORG

Those charged with governance are responsible for overseeing the Association’s financial reporting process.
Auditor’s Responsibilities for the Audit of the Consolidated Financial StatementsKƵƌŽďũĞĐƚŝǀĞƐĂƌĞƚŽŽďƚĂŝŶƌĞĂƐŽŶĂďůĞĂƐƐƵƌĂŶĐĞĂďŽƵƚǁŚĞƚŚĞƌƚŚĞĐŽŶƐŽůŝĚĂƚĞĚĨŝŶĂŶĐŝĂůƐƚĂƚĞŵĞŶƚƐĂƐĂǁŚŽůĞare free from material misstatement, whether due to fraud or error, and to issue an auditor’s report that includesŽƵƌŽƉŝŶŝŽŶ͘ZĞĂƐŽŶĂďůĞĂƐƐƵƌĂŶĐĞŝƐĂŚŝŐŚůĞǀĞůŽĨĂƐƐƵƌĂŶĐĞ͕ďƵƚŝƐŶŽƚĂŐƵĂƌĂŶƚĞĞƚŚĂƚĂŶĂƵĚŝƚĐŽŶĚƵĐƚĞĚŝŶĂĐĐŽƌĚĂŶĐĞǁŝƚŚ/^ƐǁŝůůĂůǁĂǇƐĚĞƚĞĐƚĂŵĂƚĞƌŝĂůŵŝƐƐƚĂƚĞŵĞŶƚǁŚĞŶŝƚĞǆŝƐƚƐ͘DŝƐƐƚĂƚĞŵĞŶƚƐĐĂŶĂƌŝƐĞĨƌŽŵĨƌĂƵĚŽƌĞƌƌŽƌĂŶĚĂƌĞĐŽŶƐŝĚĞƌĞĚŵĂƚĞƌŝĂůŝĨ͕ŝŶĚŝǀŝĚƵĂůůǇŽƌŝŶƚŚĞĂŐŐƌĞŐĂƚĞ͕ƚŚĞǇĐŽƵůĚƌĞĂƐŽŶĂďůǇďĞĞǆƉĞĐƚĞĚƚŽŝŶĨůƵĞŶĐĞƚŚĞĞĐŽŶŽŵŝĐĚĞĐŝƐŝŽŶƐŽĨƵƐĞƌƐƚĂŬĞŶŽŶƚŚĞďĂƐŝƐŽĨƚŚĞƐĞĐŽŶƐŽůŝĚĂƚĞĚĨŝŶĂŶĐŝĂůƐƚĂƚĞŵĞŶƚƐ͘ƐƉĂƌƚŽĨĂŶĂƵĚŝƚŝŶĂĐĐŽƌĚĂŶĐĞǁŝƚŚ/^Ɛ͕ǁĞĞǆĞƌĐŝƐĞƉƌŽĨĞƐƐŝŽŶĂůũƵĚŐŵĞŶƚĂŶĚŵĂŝŶƚĂŝŶƉƌŽĨĞƐƐŝŽŶĂůƐŬĞƉƚŝĐŝƐŵƚŚƌŽƵŐŚŽƵƚƚŚĞĂƵĚŝƚ͘tĞĂůƐŽ͗•/ĚĞŶƚŝĨǇĂŶĚĂƐƐĞƐƐƚŚĞƌŝƐŬƐŽĨŵĂƚĞƌŝĂůŵŝƐƐƚĂƚĞŵĞŶƚŽĨƚŚĞĐŽŶƐŽůŝĚĂƚĞĚĨŝŶĂŶĐŝĂůƐƚĂƚĞŵĞŶƚƐ͕ǁŚĞƚŚĞƌĚƵĞƚŽĨƌĂƵĚŽƌĞƌƌŽƌ͕ĚĞƐŝŐŶĂŶĚƉĞƌĨŽƌŵĂƵĚŝƚƉƌŽĐĞĚƵƌĞƐƌĞƐƉŽŶƐŝǀĞƚŽƚŚŽƐĞƌŝƐŬƐ͕ĂŶĚŽďƚĂŝŶĂƵĚŝƚĞǀŝĚĞŶĐĞƚŚĂƚŝƐƐƵĨĨŝĐŝĞŶƚĂŶĚĂƉƉƌŽƉƌŝĂƚĞƚŽƉƌŽǀŝĚĞĂďĂƐŝƐĨŽƌŽƵƌŽƉŝŶŝŽŶ͘dŚĞƌŝƐŬŽĨŶŽƚĚĞƚĞĐƚŝŶŐĂŵĂƚĞƌŝĂůŵŝƐƐƚĂƚĞŵĞŶƚƌĞƐƵůƚŝŶŐĨƌŽŵĨƌĂƵĚŝƐŚŝŐŚĞƌƚŚĂŶĨŽƌŽŶĞƌĞƐƵůƚŝŶŐĨƌŽŵĞƌƌŽƌ͕ĂƐĨƌĂƵĚŵĂǇŝŶǀŽůǀĞĐŽůůƵƐŝŽŶ͕ĨŽƌŐĞƌǇ͕ŝŶƚĞŶƚŝŽŶĂůŽŵŝƐƐŝŽŶƐ͕ŵŝƐƌĞƉƌĞƐĞŶƚĂƚŝŽŶƐ͕ŽƌƚŚĞŽǀĞƌƌŝĚĞŽĨŝŶƚĞƌŶĂůĐŽŶƚƌŽů͘•KďƚĂŝŶĂŶƵŶĚĞƌƐƚĂŶĚŝŶŐŽĨŝŶƚĞƌŶĂůĐŽŶƚƌŽůƌĞůĞǀĂŶƚƚŽƚŚĞĂƵĚŝƚŝŶŽƌĚĞƌƚŽĚĞƐŝŐŶĂƵĚŝƚƉƌŽĐĞĚƵƌĞƐƚŚĂƚĂƌĞĂƉƉƌŽƉƌŝĂƚĞŝŶƚŚĞĐŝƌĐƵŵƐƚĂŶĐĞƐ͕ďƵƚŶŽƚĨŽƌƚŚĞƉƵƌƉŽƐĞŽĨĞǆƉƌĞƐƐŝŶŐĂŶŽƉŝŶŝŽŶŽŶƚŚĞĞĨĨĞĐƚŝǀĞŶĞƐƐŽĨƚŚĞ
Association’s internal control.•ǀĂůƵĂƚĞƚŚĞĂƉƉƌŽƉƌŝĂƚĞŶĞƐƐŽĨĂĐĐŽƵŶƚŝŶŐƉŽůŝĐŝĞƐƵƐĞĚĂŶĚƚŚĞƌĞĂƐŽŶĂďůĞŶĞƐƐŽĨĂĐĐŽƵŶƚŝŶŐĞƐƚŝŵĂƚĞƐĂŶĚƌĞůĂƚĞĚĚŝƐĐůŽƐƵƌĞƐŵĂĚĞďǇŵĂŶĂŐĞŵĞŶƚ͘

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WORLD ATHLETICS ANNUAL REPORT AND ACCOUNTS 2023•

Conclude on the appropriateness of management’s use of the going concern basis of accounting and, based onƚŚĞĂƵĚŝƚĞǀŝĚĞŶĐĞŽďƚĂŝŶĞĚ͕ǁŚĞƚŚĞƌĂŵĂƚĞƌŝĂůƵŶĐĞƌƚĂŝŶƚǇĞǆŝƐƚƐƌĞůĂƚĞĚƚŽĞǀĞŶƚƐŽƌĐŽŶĚŝƚŝŽŶƐƚŚĂƚŵĂǇĐĂƐƚƐŝŐŶŝĨŝĐĂŶƚĚŽƵďƚŽŶƚŚĞƐƐŽĐŝĂƚŝŽŶ’s ability to continue as a going concern. If we conclude that a material
uncertainty exists, we are required to draw attention in our auditor’s report to the related disclosures in theĐŽŶƐŽůŝĚĂƚĞĚĨŝŶĂŶĐŝĂůƐƚĂƚĞŵĞŶƚƐŽƌ͕ŝĨƐƵĐŚĚŝƐĐůŽƐƵƌĞƐĂƌĞŝŶĂĚĞƋƵĂƚĞ͕ƚŽŵŽĚŝĨǇŽƵƌŽƉŝŶŝŽŶ͘KƵƌĐŽŶĐůƵƐŝŽŶƐ
are based on the audit evidence obtained up to the date of our auditor’s report. However, future events orĐŽŶĚŝƚŝŽŶƐŵĂǇĐĂƵƐĞƚŚĞŶƚŝƚǇƚŽĐĞĂƐĞƚŽĐŽŶƚŝŶƵĞĂƐĂŐŽŝŶŐĐŽŶĐĞƌŶ͘•ǀĂůƵĂƚĞƚŚĞŽǀĞƌĂůůƉƌĞƐĞŶƚĂƚŝŽŶ͕ƐƚƌƵĐƚƵƌĞĂŶĚĐŽŶƚĞŶƚŽĨƚŚĞĐŽŶƐŽůŝĚĂƚĞĚĨŝŶĂŶĐŝĂůƐƚĂƚĞŵĞŶƚƐ͕ŝŶĐůƵĚŝŶŐƚŚĞĚŝƐĐůŽƐƵƌĞƐ͕ĂŶĚǁŚĞƚŚĞƌƚŚĞĨŝŶĂŶĐŝĂůƐƚĂƚĞŵĞŶƚƐƌĞƉƌĞƐĞŶƚƚŚĞƵŶĚĞƌůǇŝŶŐƚƌĂŶƐĂĐƚŝŽŶƐĂŶĚĞǀĞŶƚƐŝŶĂŵĂŶŶĞƌ
ƚŚĂƚĂĐŚŝĞǀĞƐĨĂŝƌƉƌĞƐĞŶƚĂƚŝŽŶ͘•KďƚĂŝŶƐƵĨĨŝĐŝĞŶƚĂƉƉƌŽƉƌŝĂƚĞĂƵĚŝƚĞǀŝĚĞŶĐĞƌĞŐĂƌĚŝŶŐƚŚĞĨŝŶĂŶĐŝĂůŝŶĨŽƌŵĂƚŝŽŶŽĨƚŚĞĞŶƚŝƚŝĞƐŽƌďƵƐŝŶĞƐƐ
ĂĐƚŝǀŝƚŝĞƐǁŝƚŚŝŶƚŚĞƐƐŽĐŝĂƚŝŽŶƚŽĞǆƉƌĞƐƐĂŶŽƉŝŶŝŽŶŽŶƚŚĞĐŽŶƐŽůŝĚĂƚĞĚĨŝŶĂŶĐŝĂůƐƚĂƚĞŵĞŶƚƐ͘tĞĂƌĞƌĞƐƉŽŶƐŝďůĞĨŽƌƚŚĞĚŝƌĞĐƚŝŽŶ͕ƐƵƉĞƌǀŝƐŝŽŶĂŶĚƉĞƌĨŽƌŵĂŶĐĞŽĨƚŚĞĂƵĚŝƚŽĨƚŚĞƐƐŽĐŝĂƚŝŽŶ͘tĞƌĞŵĂŝŶƐŽůĞůǇ
ƌĞƐƉŽŶƐŝďůĞĨŽƌŽƵƌĂƵĚŝƚŽƉŝŶŝŽŶ͘tĞĐŽŵŵƵŶŝĐĂƚĞǁŝƚŚƚŚŽƐĞĐŚĂƌŐĞĚǁŝƚŚŐŽǀĞƌŶĂŶĐĞƌĞŐĂƌĚŝŶŐ͕ĂŵŽŶŐŽƚŚĞƌŵĂƚƚĞƌƐ͕ƚŚĞƉůĂŶŶĞĚƐĐŽƉĞĂŶĚƚŝŵŝŶŐŽĨƚŚĞĂƵĚŝƚĂŶĚƐŝŐŶŝĨŝĐĂŶƚĂƵĚŝƚĨŝŶĚŝŶŐƐ͕ŝŶĐůƵĚŝŶŐĂŶǇƐŝŐŶŝĨŝĐĂŶƚĚĞĨŝĐŝĞŶĐŝĞƐŝŶŝŶƚĞƌŶĂůĐŽŶƚƌŽůƚŚĂƚǁĞŝĚĞŶƚŝĨǇĚƵƌŝŶŐŽƵƌĂƵĚŝƚ͘ZĞƐƚƌŝĐƚŝŽŶŽŶhƐĞŽĨŽƵƌZĞƉŽƌƚdŚŝƐƌĞƉŽƌƚŝƐĂĚĚƌĞƐƐĞĚƚŽƚŚĞǆĞĐƵƚŝǀĞŽĂƌĚŽĨƚŚĞƐƐŽĐŝĂƚŝŽŶ͘tĞĂƐƐƵŵĞŽƌƚĂŬĞŶŽƌĞƐƉŽŶƐŝďŝůŝƚǇŝŶƌĞƐƉĞĐƚŽĨĂƚŚŝƌĚƉĂƌƚǇǁŚŝĐŚŵĂǇƵƐĞƚŚŝƐƌĞƉŽƌƚ͘dŚŝƐƌĞƉŽƌƚƐŚĂůůďĞŐŽǀĞƌŶĞĚďǇ͕ĂŶĚĐŽŶƐƚƌƵĞĚŝŶĂĐĐŽƌĚĂŶĐĞǁŝƚŚDŽŶĠŐĂƐƋƵĞůĂǁ͘dŚĞĐŽƵƌƚƐŽĨDŽŶĂĐŽƐŚĂůůŚĂǀĞĞǆĐůƵƐŝǀĞũƵƌŝƐĚŝĐƚŝŽŶŝŶƌĞůĂƚŝŽŶƚŽĂŶǇĐůĂŝŵŽƌĚŝƐƉƵƚĞĐŽŶĐĞƌŶŝŶŐƚŚĞĞŶŐĂŐĞŵĞŶƚůĞƚƚĞƌŽƌƚŚŝƐƌĞƉŽƌƚ͕ĂŶĚĂŶǇŵĂƚƚĞƌĂƌŝƐŝŶŐĨƌŽŵƚŚĞŵ͘ĂĐŚƉĂƌƚǇŝƌƌĞǀŽĐĂďůǇǁĂŝǀĞƐĂŶǇƌŝŐŚƚŝƚŵĂǇŚĂǀĞƚŽŽďũĞĐƚƚŽĂŶĂĐƚŝŽŶďĞŝŶŐďƌŽƵŐŚƚŝŶĂŶǇŽĨƚŚŽƐĞĐŽƵƌƚƐĂŶĚƚŽĐůĂŝŵƚŚĂƚƚŚĞĂĐƚŝŽŶŚĂƐďĞĞŶďƌŽƵŐŚƚŝŶĂŶŝŶĐŽŶǀĞŶŝĞŶƚĨŽƌƵŵŽƌƚŚĂƚƚŚŽƐĞĐŽƵƌƚƐĚŽŶŽƚŚĂǀĞũƵƌŝƐĚŝĐƚŝŽŶ͘DŽŶĂĐŽ͕:ƵůǇϭϳ͕ϮϬϮϰdŚĞ/ŶĚĞƉĞŶĚĞŶƚƵĚŝƚŽƌZE^dΘzKhE'ƵĚŝƚŽŶƐĞŝůΘƐƐŽĐŝĠƐ^ĂŶĚƌŝŶĞƌĐŝŶ

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/E&KZDd/KEKhdd,^^K/d/KEE^/'E/&/EdsEd^K&d,WZ/K/͘'EZ>tŽƌůĚ ƚŚůĞƚŝĐƐ ŝƐ Ă ŶŽŶͲƉƌŽĨŝƚͲŵĂŬŝŶŐĂƐƐŽĐŝĂƚŝŽŶ͕ ƚŚĞ ŵĞŵďĞƌƐ ŽĨ ǁŚŝĐŚ ĂƌĞ ƚŚĞEĂƚŝŽŶĂů &ĞĚĞƌĂƚŝŽŶƐ͕ ǁŚŝĐŚ ƌĞƉƌĞƐĞŶƚ ĂƚŚůĞƚŝĐƐŝŶ ĞĂĐŚ ĐŽƵŶƚƌǇ ŽĨ ƚŚĞ ǁŽƌůĚ͘ /ƚƐ ŽďũĞĐƚ ŝƐ ƚŽĞƐƚĂďůŝƐŚůĞŐĂůĂŶĚĨƌŝĞŶĚůǇĐŽŽƉĞƌĂƚŝŽŶďĞƚǁĞĞŶĂůů ŵĞŵďĞƌƐ ĨŽƌ ƚŚĞ ďĞŶĞĨŝƚ ŽĨ ĂƚŚůĞƚŝĐƐ͘ tŽƌůĚ
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ƚŚůĞƚŝĐƐ ĐŽŵƉŝůĞƐ ƌƵůĞƐ ǁŝƚŚ ƌĞŐƵůĂƚŝŽŶƐŐŽǀĞƌŶŝŶŐŝŶƚĞƌŶĂƚŝŽŶĂůĐŽŵƉĞƚŝƚŝŽŶƐĂŶĚĨŽƐƚĞƌƐƚŚĞǁŽƌůĚǁŝĚĞĚĞǀĞůŽƉŵĞŶƚŽĨĂƚŚůĞƚŝĐƐĂŶĚƚŚĞĚŝƐƐĞŵŝŶĂƚŝŽŶŽĨƚĞĐŚŶŝĐĂůĂŶĚŽƚŚĞƌŝŶĨŽƌŵĂƚŝŽŶƚŽŝƚƐĂĨĨŝůŝĂƚĞĚĞŶƚŝƚŝĞƐ͘

Appendix A – 2023 Audited Financial Statements

WWW.WORLDATHLETICS.ORG

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WORLD ATHLETICS ANNUAL REPORT AND ACCOUNTS 2023

ƚŽƵĐŚŝŶŐ ŽŶ ƐŽĐŝĂů ƌĞƐƉŽŶƐŝďŝůŝƚǇ͕ ƚŚĞĞŶǀŝƌŽŶŵĞŶƚ ĂŶĚĂůůŵĂƚƚĞƌƐ ƚŚĂƚ ŚĞůƉ ĂĚǀĂŶĐĞĂƚŚůĞƚŝĐƐĂƐĂĨŽƌĐĞƚŽĐŚĂŶŐĞƚŚĞǁŽƌůĚĨŽƌŐŽŽĚ͘ƚŚůĞƚŝĐƐĚŝƐĐŝƉůŝŶĞƐĂƌĞĂŵŽŶŐƚŚĞŽůĚĞƐƚŽĨĂůůƐƉŽƌƚŝŶŐ ĐŽŵƉĞƚŝƚŝŽŶƐ ŬŶŽǁŶ ƚŽ ŵĂŶŬŝŶĚ͕ ǁŝƚŚ‘run, jump, throw’ the natural and universalĨŽƌŵƐ ŽĨ ŚƵŵĂŶ ƉŚǇƐŝĐĂů ĞǆƉƌĞƐƐŝŽŶ͘ dŚĞ ƐƉŽƌƚĂůƐŽŽĨĨĞƌƐďƌŽĂĚĞƌǀĂůƵĞƐƚŚĂƚŚĞůƉƵƐĚĞĂůǁŝƚŚlife’s challenges.tĞĂƌĞĂůƐŽĂĚĂƉƚŝŶŐŽƵƌĐŽŵƉĞƚŝƚŝŽŶƉƌŽŐƌĂŵƐƚŽ ƌĞĨůĞĐƚ ƚŚĞ ŝŶĐƌĞĂƐŝŶŐ ĚŝǀĞƌƐŝƚǇ ŽĨ ĂƚƚƌĂĐƚŝŽŶƐĨƌŽŵ ǁŚŝĐŚ ƚŚĞ ƉƵďůŝĐ ĐĂŶ ŶŽǁ ĐŚŽŽƐĞ͘ƚƚƌĂĐƚŝŶŐ͕ ĂŶĚ ŵŽƐƚ ŝŵƉŽƌƚĂŶƚůǇ ƌĞƚĂŝŶŝŶŐ͕ ƚŚĞǇŽƵŶŐ ĂƐ ďŽƚŚ ƉĂƌƚŝĐŝƉĂŶƚ ĂŶĚ ƐƉĞĐƚĂƚŽƌ ĂƌĞĞƐƐĞŶƚŝĂůŝĨĂƚŚůĞƚŝĐƐŝƐƚŽƌĞƚĂŝŶŝƚƐĂƉƉĞĂů͘ƵƚǁĞ
are also closely linked to the masters’ athleticsŵŽǀĞŵĞŶƚĂƐǁĞůůĂƐƵůƚƌĂͲĚŝƐƚĂŶĐĞƌƵŶŶŝŶŐĂŶĚŵŽƵŶƚĂŝŶĂŶĚƚƌĂŝůƌĂĐŝŶŐ͘dŚĞ ďŝĞŶŶŝĂů tŽƌůĚ ƚŚůĞƚŝĐƐ ŚĂŵƉŝŽŶƐŚŝƉƐ ŝƐƚŚĞũĞǁĞůŽĨŽƵƌtŽƌůĚƚŚůĞƚŝĐƐ^ĞƌŝĞƐǁŚŝĐŚĂůƐŽŝŶĐůƵĚĞƐŝŶĚŽŽƌ͕hϮϬ͕ƌĞůĂǇƐ͕ĐƌŽƐƐĐŽƵŶƚƌǇ͕ƌĂĐĞǁĂůŬŝŶŐĂŶĚƌŽĂĚƌƵŶŶŝŶŐƚŚƌŽƵŐŚŽƵƚĂĨŽƵƌͲǇĞĂƌĐǇĐůĞŽĨĞǀĞŶƚƐ͘ƚŚůĞƚŝĐƐ ĂůƐŽ ĐĂƌƌŝĞƐ ƚŚĞ ŵĂŶƚůĞ ŽĨ ďĞŝŶŐ ƚŚĞůĞĂĚŝŶŐƐƉŽƌƚŽĨƚŚĞKůǇŵƉŝĐƐ'ĂŵĞƐ͘ƚŚůĞƚŝĐƐŝƐƚŚĞŵĂŝŶƐƉĞĐƚĂƚŽƌƐƚĂĚŝƵŵƐƉŽƌƚŽĨƚŚĞ'ĂŵĞƐ͕ĐĞŶƚƌĂů ƚŽ ƚŚĞ ƐƵĐĐĞƐƐ ŽĨ ĞĂĐŚ ƐƵŵŵĞƌ ĞĚŝƚŝŽŶ͘dŚĞŚŝƐƚŽƌŝĞƐŽĨĂƚŚůĞƚŝĐƐĂŶĚƚŚĞKůǇŵƉŝĐ'ĂŵĞƐĂƌĞĐůŽƐĞůǇĞŶƚǁŝŶĞĚ ĂŶĚďŽƚŚĐŽŶƚŝŶƵĞƚŽƉůĂǇƚŽƉĂĐŬĞĚƐƚĂĚŝƵŵƐĂŶĚĂƚƚƌĂĐƚdsĂƵĚŝĞŶĐĞƐŝŶƚŚĞŝƌďŝůůŝŽŶƐ͘dŚĞ ŵĂƌŬĞƚŝŶŐ ƉŽƚĞŶƚŝĂů ŽĨ ĞĂĐŚ ĞĚŝƚŝŽŶ ŽĨ ƚŚĞtŽƌůĚƚŚůĞƚŝĐƐŚĂŵƉŝŽŶƐŚŝƉƐŝƐĞǆĐĞůůĞŶƚǁŝƚŚŽŶůǇƚŚĞKůǇŵƉŝĐƐĂŶĚƚŚĞ&/&tŽƌůĚƵƉĂŚĞĂĚŽĨŝƚŝŶƚĞƌŵƐŽĨŐůŽďĂůƌĞĂĐŚĂŶĚŝŵƉĂĐƚ͘dŚĞŶĞǆƚĞĚŝƚŝŽŶ ŽĨ ƚŚĞ tŽƌůĚ ƚŚůĞƚŝĐƐ ŚĂŵƉŝŽŶƐŚŝƉƐǁŝůůďĞŚŽƐƚĞĚŝŶdŽŬǇŽ͕:ĂƉĂŶ;ϮϬϮϱͿ͘dŚĞǁŝĚĞǀĂƌŝĞƚǇŝŶƚŚĞƚǇƉĞ͕ƐŝǌĞĂŶĚƐĐŽƉĞŽĨƚŚĞƌĞƐƚŽĨƚŚĞĞǀĞŶƚƐŽĨƚŚĞtŽƌůĚƚŚůĞƚŝĐƐ^ĞƌŝĞƐ͕ǁŝƚŚƚŚĞŝƌĚŝĨĨĞƌĞŶƚĚĞŵĂŶĚƐŝŶƚĞƌŵƐŽĨůŽŐŝƐƚŝĐƐ͕ďƵĚŐĞƚ ĂŶĚ ĨĂĐŝůŝƚŝĞƐ ĂůƐŽ ŵĞĂŶƐ ƚŚĂƚ ƚŚĞƌĞ ĂƌĞtŽƌůĚƚŚůĞƚŝĐƐĞǀĞŶƚƐĂǀĂŝůĂďůĞƚŽĨŝƚƚŚĞŚŽƐƚŝŶŐĂŵďŝƚŝŽŶƐ ĂŶĚ ƌĞƐŽƵƌĐĞƐ ŽĨ ĐŝƚŝĞƐ͕ ůĂƌŐĞ ĂŶĚƐŵĂůů͕ ĂŵŽŶŐ ŵŽƐƚ ŽĨ ƚŚĞ ƐƐŽĐŝĂƚŝŽŶ’Ɛ ϮϭϰDĞŵďĞƌ&ĞĚĞƌĂƚŝŽŶƐ͘^ŚŽǁŝŶŐ ƚŚĞ ƐƉŽƌƚΖƐ ĂďŝůŝƚǇ ƚŽ ŝŶŶŽǀĂƚĞ ĂŶĚƌĞƐƉŽŶĚƚŽĐŚĂŶŐŝŶŐĚĞŵĂŶĚƐ͕ ƚǁŽŶĞǁ'ůŽďĂůŚĂŵƉŝŽŶƐŚŝƉ ĞǀĞŶƚƐ ŚĂǀĞ ďĞĞŶ ĂĚĚĞĚ ƚŽ ƚŚĞĐĂůĞŶĚĂƌ͘  dŚĞ tŽƌůĚ ƚŚůĞƚŝĐƐ ZŽĂĚ ZƵŶŶŝŶŐŚĂŵƉŝŽŶƐŚŝƉƐ͕ ƚŚĞ ĨŝƌƐƚ ĞĚŝƚŝŽŶ ŽĨ ǁŚŝĐŚ ǁĂƐŚĞůĚŝŶZŝŐĂ͕>ĂƚǀŝĂŝŶϮϬϮϯ͕ǁŝůůďĞŚĞůĚĞǀĞƌǇƚǁŽǇĞĂƌƐ ǁŝƚŚ ƚŚĞ ŶĞǆƚ ĞĚŝƚŝŽŶ ďĞŝŶŐ ŚĞůĚ ŝŶ ^ĂŶŝĞŐŽ͕ĂůŝĨŽƌŶŝĂ;ϮϬϮϱͿ͘dŚĞƐĞĐŽŶĚŶĞǁĞǀĞŶƚ͕ĂůƐŽ ďĞ ŚĞůĚ ĞǀĞƌǇ ƚǁŽ ǇĞĂƌƐ͕ ŝƐ ƚŚĞ tŽƌůĚƚŚůĞƚŝĐƐ hůƚŝŵĂƚĞ ŚĂŵƉŝŽŶƐŚŝƉƐ͘  dŚĞ ĨŝƌƐƚĞĚŝƚŝŽŶ ŽĨ ƚŚŝƐ ĞǀĞŶƚ ǁŝůů ďĞ ŚĞůĚ ŝŶ ƵĚĂƉĞƐƚ͕,ƵŶŐĂƌǇ;ϮϬϮϲͿ͘dŚŝƐǀĂƌŝĞƚǇĞǆƚĞŶĚƐďĞǇŽŶĚĐŚĂŵƉŝŽŶƐŚŝƉƐ͘/Ŷ ϮϬϭϬ Ă ŶĞǁ ŐůŽďĂů ŽŶĞͲĚĂǇ ĐŽŵƉĞƚŝƚŝŽŶƐƚƌƵĐƚƵƌĞ ǁĂƐ ƵŶǀĞŝůĞĚ͘ /ƚ ŝƐ ŚĞĂĚĞĚ ďǇ ƚŚĞŝĂŵŽŶĚ>ĞĂŐƵĞŽĨϭϰŝŶǀŝƚĂƚŝŽŶĂůƚƌĂĐŬĂŶĚĨŝĞůĚŵĞĞƚŝŶŐƐ ŝŶ ĨƌŝĐĂ͕ ƐŝĂ͕ ƵƌŽƉĞ͕ ĂŶĚ h^͘ dŚĞŽŶƚŝŶĞŶƚĂů dŽƵƌ͕ ǁŝƚŚ 'ŽůĚ͕ ^ŝůǀĞƌ ĂŶĚ ƌŽŶǌĞŽŶĞͲĚĂǇ ŵĞĞƚŝŶŐƐ ŚĞůĚ ĂĐƌŽƐƐ Ăůů Ɛŝǆ tŽƌůĚƚŚůĞƚŝĐƐĐŽŶƚŝŶĞŶƚĂůĂƌĞĂƐ͕ǁĂƐůĂƵŶĐŚĞĚŝŶϮϬϮϬǁŝƚŚũƵƐƚϮϬĞǀĞŶƚƐ͘/ŶϮϬϮϯŽǀĞƌϭϱ͕ϬϬϬĂƚŚůĞƚĞƐĐŽŵƉĞƚĞĚ ŝŶ ϮϮϵ ĞǀĞŶƚƐ͘ KƚŚĞƌ ĞǀĞŶƚƐ ŝŶĐůƵĚĞƚŚĞ /ŶĚŽŽƌ dŽƵƌ͕ ƌŽƐƐͲŽƵŶƚƌǇ dŽƵƌ͕ ZĂĐĞ ͲtĂůŬŝŶŐdŽƵƌĂŶĚŽŵďŝŶĞĚǀĞŶƚƐdŽƵƌŽĨĨĞƌĂƐĞĐŽŶĚ ƚŝĞƌ ŽĨ ĞůŝƚĞ ŝŶƚĞƌŶĂƚŝŽŶĂů ĐŽŵƉĞƚŝƚŝŽŶƐ͘ůůƚŚĞƐĞƉůĂǇŽƵƚƚŽůĂƌŐĞƐƚĂĚŝƵŵ͕ĐƌŽǁĚƐĂŶĚdsĂƵĚŝĞŶĐĞƐĂƌŽƵŶĚƚŚĞǁŽƌůĚ͘Ɛ tŽƌůĚ ƚŚůĞƚŝĐƐ ĐŽŶƚŝŶƵĞƐ ŝŶ ŝƚƐ ƐĞĐŽŶĚĐĞŶƚƵƌǇ ŽĨ ĞǆŝƐƚĞŶĐĞ͕ ŽƵƌ Ăŝŵ ŝƐ ƚŽ ĨƵƌƚŚĞƌĞŶŚĂŶĐĞ ŽƵƌ ǀŝďƌĂŶƚ ƐƉŽƌƚ ƚŽ ŽĨĨĞƌ ŶĞǁ ĂŶĚĞǆĐŝƚŝŶŐ ƉƌŽƐƉĞĐƚƐ ĨŽƌ ĂƚŚůĞƚĞƐ ĂŶĚ ƐƉĞĐƚĂƚŽƌƐĂůŝŬĞ͘tĞĂƌĞǁŽƌŬŝŶŐŚĂƌĚƚŽĞŶƐƵƌĞƚŚĂƚĞǀĞƌǇĂƌĞĂ ŽĨ ŽƵƌ ƐƉŽƌƚ ŝƐ ƌĞǀŝĞǁĞĚ͕ ƚĞƐƚĞĚ ĂŶĚĞŶĐŽƵƌĂŐĞĚƚŽƐƚƌŝǀĞĨŽƌĂƚŚůĞƚŝĐƐĞǆĐĞůůĞŶĐĞ͘

tKZ>d,>d/^&/EE/>ZWKZdͮƉ͘ϭϭ

46

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K&&//>tKZ>d,>d/^WZdEZ^

Appendix A – 2023 Audited Financial Statements

WWW.WORLDATHLETICS.ORG

tKZ>d,>d/^&/EE/>ZWKZdͮƉ͘ϭϮ

47

WORLD ATHLETICS ANNUAL REPORT AND ACCOUNTS 2023

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/ƚĞŵƐƚŚĂƚǁŝůůďĞƌĞĐůĂƐƐŝĨŝĞĚƐƵďƐĞƋƵĞŶƚůǇƚŽƉƌŽĨŝƚŽƌůŽƐƐǁŚĞŶƐƉĞĐŝĨŝĐĐŽŶĚŝƚŝŽŶƐĂƌĞŵĞƚƵƌƌĞŶĐǇƚƌĂŶƐůĂƚŝŽŶĚŝĨĨĞƌĞŶĐĞƐKƚŚĞƌĐŽŵƉƌĞŚĞŶƐŝǀĞ;ĞǆƉĞŶƐĞͿͬŝŶĐŽŵĞdŽƚĂůĐŽŵƉƌĞŚĞŶƐŝǀĞŝŶĐŽŵĞ;ůŽƐƐͿĨŽƌƚŚĞǇĞĂƌ

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ϮϮ

ϭϲϭ
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ͲϮϮϭϲϭͲϭϲ͕ϳϱϮͲϭϳ͕ϮϮϮ

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48

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KE^K>/d>E^,dEŽƚĞŝŶŬh^ƐƐĞƚƐ/ŶƚĂŶŐŝďůĞĂƐƐĞƚƐWƌŽƉĞƌƚǇ͕ƉůĂŶƚΘĞƋƵŝƉŵĞŶƚ>ŽŶŐƚĞƌŵĨŝŶĂŶĐŝĂůĂƐƐĞƚƐ/ŶǀĞƐƚŵĞŶƚƐŝŶĞƋƵŝƚǇͲĂĐĐŽƵŶƚĞĚŝŶǀĞƐƚĞĞƐEŽŶͲĐƵƌƌĞŶƚĂƐƐĞƚƐ

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ϮϬϮϮ
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Ϭ

ϭϯϰ

ϰ͕ϯϵϬ

ϰ͕ϲϮϵ

ϮϭϮ

Ϯϭϭ

ϲϲϭ

ϲϬϬ

ϱ͕Ϯϲϯ

ϱ͕ϱϳϰ

dƌĂĚĞƌĞĐĞŝǀĂďůĞƐϭϭϭ͕ϲϭϬ

ϴϰϭWƌĞƉĂǇŵĞŶƚƐΘƚĂǆƌĞĐĞŝǀĂďůĞƐ

ϭϭ

ϴϭϬ

ϲϬϮ

KƚŚĞƌƌĞĐĞŝǀĂďůĞƐϭϭϱ͕ϯϰϰ

ϴ͕ϱϴϱ

ŽŶƚƌĂĐƚĂƐƐĞƚƐ

ϭϮ

Ϭ

Ϭ

ĂƐŚĂŶĚĐĂƐŚĞƋƵŝǀĂůĞŶƚƐϭϯϯϮ͕ϳϴϮϰϲ͕ϬϱϭϰϬ͕ϱϰϱϱϲ͕Ϭϳϵϰϱ͕ϴϬϵϲϭ͕ϲϱϯƵƌƌĞŶƚĂƐƐĞƚƐdŽƚĂůĂƐƐĞƚƐ

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ZĞƐĞƌǀĞ&ƵŶĚ'ĞŶĞƌĂů&ƵŶĚWƌŽĨŝƚͬůŽƐƐŽĨƚŚĞǇĞĂƌdŽƚĂůĞƋƵŝƚǇΘƌĞƐĞƌǀĞƐ;ŐĞŶĞƌĂůĨƵŶĚƐͿϭϬ͕ϬϬϬϭϰϭϬ͕ϬϬϬϯϯ͕ϱϬϳϱϬ͕ϴϲϴͲϭϲ͕ϳϳϰͲϭϳ͕ϯϴϰϮϲ͕ϳϯϮϰϯ͕ϰϴϰ

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dƌĂĚĞƉĂǇĂďůĞƐϭϳϳ͕ϭϳϮ

ϯ͕ϵϯϵ

KƚŚĞƌƉĂǇĂďůĞƐĂŶĚĂĐĐƌƵĞĚĞǆƉĞŶƐĞƐϭϴϴ͕ϬϮϲ

ϴ͕ϰϴϵ

&ŝŶĂŶĐŝĂůůŝĂďŝůŝƚŝĞƐ

ϭϲ

ϯϮϮ

ϮϯϮ

ĞĨĞƌƌĞĚŝŶĐŽŵĞ

ϭϵ

ϭϱϬ

Ϯ͕ϯϳϬ

ϭϱ͕ϲϳϭϭϱ͕ϬϯϬƵƌƌĞŶƚůŝĂďŝůŝƚŝĞƐ

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ϭϬ

ϮϬϮϯ
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WƌŽǀŝƐŝŽŶƐ

ϭϱ

ϲϯϱ

ϱϵϱ

&ŝŶĂŶĐŝĂůůŝĂďŝůŝƚŝĞƐϭϲϮ͕ϱϮϭ

Ϯ͕Ϯϵϰ

ĞĨĞƌƌĞĚŝŶĐŽŵĞ

ϭϵ

ϮϱϬ

ϮϱϬ

EŽŶͲĐƵƌƌĞŶƚůŝĂďŝůŝƚŝĞƐϯ͕ϰϬϲ

ϯ͕ϭϯϵ

dŽƚĂůůŝĂďŝůŝƚŝĞƐϭϵ͕Ϭϳϳϭϴ͕ϭϲϵϰϱ͕ϴϬϵϲϭ͕ϲϱϯdŽƚĂůůŝĂďŝůŝƚŝĞƐĂŶĚƌĞƐĞƌǀĞƐ

Appendix A – 2023 Audited Financial Statements

WWW.WORLDATHLETICS.ORG

tKZ>d,>d/^&/EE/>ZWKZdͮƉ͘ϭϰ

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WORLD ATHLETICS ANNUAL REPORT AND ACCOUNTS 2023

KE^K>/d^ddDEdK&^,&>Kt^ŝŶŬh^KƉĞƌĂƚŝŶŐĂĐƚŝǀŝƚŝĞƐ

EŽƚĞ
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EĞƚƌĞƐƵůƚĨŽƌƚŚĞǇĞĂƌEĞƚĨŝŶĂŶĐŝĂů;ŝŶĐŽŵĞͿͬĞǆƉĞŶƐĞϳ͕ϴĞƉƌĞĐŝĂƚŝŽŶϭϬϭ͕Ϭϳϭ

ϭ͕ϬϮϳ

^ŚĂƌĞŽĨůŽƐƐ;ƉƌŽĨŝƚͿŽŶŝŶǀĞƐƚŵĞŶƚŝŶĞƋƵŝƚǇ/ŶĐƌĞĂƐĞͬ;ĞĐƌĞĂƐĞͿŝŶƉƌŽǀŝƐŝŽŶƐĨŽƌƉĞŶƐŝŽŶŽďůŝŐĂƚŝŽŶƐ

ϵ
ϭϱ

ͲϲϮ
ϰϬ

ͲϭϮϳ
Ͳϭϳϯ

;/ŶĐƌĞĂƐĞͿͬĞĐƌĞĂƐĞŝŶƌĞĐĞŝǀĂďůĞƐ

ϭϭ

ϱϬ

ϴ͕ϱϮϰ

ϭϮϭϳ͕ϭϴ

ϬϮ͕ϲϲϴϬϴϴϰEĞƚĐĂƐŚŐĞŶĞƌĂƚĞĚďǇŽƉĞƌĂƚŝŶŐĂĐƚŝǀŝƚŝĞƐͲϭϮ͕ϱϴϭͲϲ͕ϴϭϳ/ŶǀĞƐƚŝŶŐĂĐƚŝǀŝƚŝĞƐ;WƵƌĐŚĂƐĞͿͬƐĂůĞŽĨƉƌŽƉĞƌƚǇ͕ƉůĂŶƚΘĞƋƵŝƉŵĞŶƚϭϬ;/ŶĐƌĞĂƐĞͿͬĞĐƌĞĂƐĞŝŶĐŽŶƚƌĂĐƚĂƐƐĞƚƐ/ŶĐƌĞĂƐĞͬ;ĞĐƌĞĂƐĞͿŝŶƉĂǇĂďůĞƐ;WƵƌĐŚĂƐĞͿͬƐĂůĞŽĨŝŶƚĂŶŐŝďůĞĂƐƐĞƚƐEĞƚĐĂƐŚ;ƵƐĞĚͿͬŐĞŶĞƌĂƚĞĚŝŶŝŶǀĞƐƚŝŶŐĂĐƚŝǀŝƚŝĞƐ

ϮϬϮϮ
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Ͳϭϲ͕ϳϳϰ Ͳϭϳ͕ϯϴϰ
ϰϮϱ
ϰϯϮ

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Ͳϲϵϵ

Ͳϭϵϴ

Ϭ

Ϭ

Ͳϲϵϵ

Ͳϭϵϴ

WƌŽĐĞĞĚĨƌŽŵŶĞǁůŽĂŶƐͬďŽƌƌŽǁŝŶŐƐ

ϭϬ

ϲϬϱ

Ϭ

ZĞŝŵďƵƌƐŵĞŶƚŽĨůŽĂŶƐͬďŽƌƌŽǁŝŶŐƐ/ŶƚĞƌĞƐƚƌĞĐĞŝǀĞĚ

ϭϬ
ϳ

Ͳϯϴϭ
Ϭ

ͲϯϬϵ
Ϭ

/ŶƚĞƌĞƐƚƉĂŝĚ

ϴ

ͲϮϭϱ

ͲϮϭϱ

EĞƚĐĂƐŚƵƐĞĚŝŶĨŝŶĂŶĐŝŶŐĂĐƚŝǀŝƚŝĞƐ

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ϭϬ

ͲϱϮϯ

EĞƚ;ĚĞĐƌĞĂƐĞͿͬŝŶĐƌĞĂƐĞŝŶĐĂƐŚΘĐĂƐŚĞƋƵŝǀĂůĞŶƚƐͲϭϯ͕ϮϳϬͲϳ͕ϱϯϴĂƐŚΘĐĂƐŚĞƋƵŝǀĂůĞŶƚƐĂƐĂƚϭ:ĂŶƵĂƌǇ

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ϮϬϮϯ

EĞƚŝŶĐƌĞĂƐĞͬ;ĚĞĐƌĞĂƐĞͿŝŶĐĂƐŚΘĐĂƐŚĞƋƵŝǀĂůĞŶƚƐĂƐŚΘĐĂƐŚĞƋƵŝǀĂůĞŶƚƐĂƐĂƚϯϭĞĐĞŵďĞƌ

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ϭϯ

ϰϲ͕Ϭϱϭϱϯ͕ϱϴϵͲϭϯ͕ϮϳϬͲϳ͕ϱϯϴϯϮ͕ϳϴϭϰϲ͕Ϭϱϭ

tKZ>d,>d/^&/EE/>ZWKZdͮƉ͘ϭϱ

50

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KE^K>/d^ddDEdK&,E'^/EYh/dz
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EŽƚĞ

ŝŶŬh^dŽƚĂůĞƋƵŝƚǇͲ Ͳ

ĐƚƵĂƌŝĂůůŽƐƐŽŶƌĞƚŝƌĞŵĞŶƚďĞŶĞĨŝƚŽďůŝŐĂƚŝŽŶƐ͕ŶĞƚŽĨƚĂǆĞƐϭϲϭ ϭϲϭ

KƚŚĞƌĐŽŵƉƌĞŚĞŶƐŝǀĞŝŶĐŽŵĞĨŽƌƚŚĞƉĞƌŝŽĚͲ ϭϲϭ ϭϲϭ

WƌŽĨŝƚͬůŽƐƐĨŽƌƚŚĞǇĞĂƌdŽƚĂůĐŽŵƉƌĞŚĞŶƐŝǀĞŝŶĐŽŵĞĨŽƌƚŚĞƉĞƌŝŽĚͲ ;ϭϳ͕ϮϮϮͿ ;ϭϳ͕ϮϮϮͿƐĂƚϯϭĞĐĞŵďĞƌϮϬϮϮϭϬ͕ϬϬϬϯϯ͕ϰϴϰϰϯ͕ϰϴϰ

EĞƚŝŶĐŽŵĞĂůůŽĐĂƚŝŽŶͲ Ͳ

ĐƚƵĂƌŝĂůůŽƐƐŽŶƌĞƚŝƌĞŵĞŶƚďĞŶĞĨŝƚŽďůŝŐĂƚŝŽŶƐ͕ŶĞƚŽĨƚĂǆĞƐϮϮ ϮϮ

KƚŚĞƌĐŽŵƉƌĞŚĞŶƐŝǀĞŝŶĐŽŵĞĨŽƌƚŚĞƉĞƌŝŽĚͲ ϮϮ ϮϮ

WƌŽĨŝƚͬůŽƐƐĨŽƌƚŚĞǇĞĂƌdŽƚĂůĐŽŵƉƌĞŚĞŶƐŝǀĞŝŶĐŽŵĞĨŽƌƚŚĞƉĞƌŝŽĚͲ ;ϭϲ͕ϳϱϮͿ ;ϭϲ͕ϳϱϮͿƐĂƚϯϭĞĐĞŵďĞƌϮϬϮϯϭϬ͕ϬϬϬϭϲ͕ϳϯϮϮϲ͕ϳϯϮ

EĞƚŝŶĐŽŵĞĂůůŽĐĂƚŝŽŶZĞƐĞƌǀĞ&ƵŶĚKƚŚĞƌZĞƐĞƌǀĞƐdƌĂŶƐĨĞƌĨƌŽŵŝŶĐŽŵĞ;ϭϳ͕ϯϴϰͿ ;ϭϳ͕ϯϴϰͿ

Appendix A – 2023 Audited Financial Statements

WWW.WORLDATHLETICS.ORG

;ϭϲ͕ϳϳϰͿ ;ϭϲ͕ϳϳϰͿ

tKZ>d,>d/^&/EE/>ZWKZdͮƉ͘ϭϲ

51

WORLD ATHLETICS ANNUAL REPORT AND ACCOUNTS 2023

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entity’s voting rights. dŚĞ ƐƐŽĐŝĂƚŝŽŶ ĞǆĞƌĐŝƐĞƐƐŝŐŶŝĨŝĐĂŶƚ ŝŶĨůƵĞŶĐĞ ŽǀĞƌ ĂŶ ĞŶƚŝƚǇ ǁŚĞŶ ŝƚ ŚĂƐ
Appendix A – 2023 Audited Financial Statements

WWW.WORLDATHLETICS.ORG

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tKZ>d,>d/^&/EE/>ZWKZdͮƉ͘ϭϴ

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WORLD ATHLETICS ANNUAL REPORT AND ACCOUNTS 2023

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Zh>^EWZKs/^/KE^ ƉƌŽǀŝƐŝŽŶ ŝƐ ƌĞĐŽŐŶŝƐĞĚǁŚĞŶ tŽƌůĚ ƚŚůĞƚŝĐƐŚĂƐĂůĞŐĂůŽƌĐŽŶƐƚƌƵĐƚŝǀĞŽďůŝŐĂƚŝŽŶƚŽǁĂƌĚƐĂƚŚŝƌĚƉĂƌƚǇĂƐĂƌĞƐƵůƚŽĨĂƉĂƐƚĞǀĞŶƚ͕ǁŚĞŶŝƚŝƐƉƌŽďĂďůĞ ƚŚĂƚ ĂŶ ŽƵƚĨůŽǁ Žƌ ĞĐŽŶŽŵŝĐ ďĞŶĞĨŝƚƐǁŝůůďĞƌĞƋƵŝƌĞĚƚŽƐĞƚƚůĞƚŚĞŽďůŝŐĂƚŝŽŶĂŶĚǁŚĞŶĂ ƌĞůŝĂďůĞ ĞƐƚŝŵĂƚĞ ĐĂŶ ďĞ ŵĂĚĞ ŽĨ ĨƵƚƵƌĞ ĐĂƐŚŽƵƚĨůŽǁƐ͘ŶǇ ĂĐĐƌƵĞĚ ůŝĂďŝůŝƚǇ ŶŽƚ ĐŽŶƐƵŵĞĚ ǁŝƚŚŝŶ ƚǁŽǇĞĂƌƐĂĨƚĞƌƚŚĞƌĞĐŽŐŶŝƚŝŽŶĚĂƚĞƐŚĂůůďĞƌĞǀĞƌƐĞĚŝŶ ƚŚĞ ĐŽŶƐŽůŝĚĂƚĞĚ ŝŶĐŽŵĞ ƐƚĂƚĞŵĞŶƚ ƵŶůĞƐƐƐƉĞĐŝĨŝĐ ĐŝƌĐƵŵƐƚĂŶĐĞƐ ũƵƐƚŝĨǇ ƚŚĞ ďĂůĂŶĐĞ ƚŽ ďĞŵĂŝŶƚĂŝŶĞĚŝŶƚŚĞďĂůĂŶĐĞƐŚĞĞƚ͘WĂǇĂďůĞƐĂƌĞŶŽƚŝŶƚĞƌĞƐƚďĞĂƌŝŶŐĂŶĚĂƌĞƐƚĂƚĞĚĂƚƚŚĞŝƌŶŽŵŝŶĂůǀĂůƵĞ͘ŽŶƚŝŶŐĞŶƚ ůŝĂďŝůŝƚŝĞƐ ĂƌĞ ŶŽƚ ƌĞĐŽŐŶŝƐĞĚ ƵŶůĞƐƐƚŚĞůŝŬĞůŝŚŽŽĚŽĨĂůŝĂďŝůŝƚǇŝƐƉƌŽďĂďůĞ͘dŚĞǇĂƌĞĚŝƐĐůŽƐĞĚŝŶƚŚĞŶŽƚĞƐƚŽƚŚĞĨŝŶĂŶĐŝĂůƐƚĂƚĞŵĞŶƚƐƵŶůĞƐƐƚŚĞƉŽƐƐŝďŝůŝƚǇŽĨĂŶŽƵƚĨůŽǁŽĨĞĐŽŶŽŵŝĐƌĞƐŽƵƌĐĞƐŝƐƌĞŵŽƚĞ͘

Appendix A – 2023 Audited Financial Statements

WWW.WORLDATHLETICS.ORG'͘WE^/KEK>/'d/KE^dŚĞ ƌĞƚŝƌĞŵĞŶƚ ďĞŶĞĨŝƚ ŽďůŝŐĂƚŝŽŶƐ ƌĞůĂƚĞ ƚŽDŽŶĂĐŽ ĞŵƉůŽǇĞĞƐ͘ hŶĚĞƌ ůĞŐŝƐůĂƚŝŽŶ ŝŶDŽŶĂĐŽ͕ƚŚĞƐƐŽĐŝĂƚŝŽŶŝƐƌĞƋƵŝƌĞĚƚŽƉƌŽǀŝĚĞĂƉĞŶƐŝŽŶďĂƐĞĚŽŶůĞŐĂůƌĞƋƵŝƌĞŵĞŶƚƐ͕Žƌ͕ŽŶƚŚĞĐŽůůĞĐƚŝǀĞůĂďŽƌĂŐƌĞĞŵĞŶƚƌĞƋƵŝƌĞŵĞŶƚƐŝĨƚŚĞƐĞŽŶĞƐ ĂƌĞ ŵŽƌĞ ĂĚǀĂŶƚĂŐĞŽƵƐ ƚŚĂŶ ůĞŐĂů͘ &ŽƌDŽŶĂĐŽ ĞŵƉůŽǇĞĞƐ͕ ƉĞŶƐŝŽŶƐ ĂƌĞ ĐŽŵƉƵƚĞĚďĂƐĞĚ ƵƉŽŶ ƚŚĞ ůĂƐƚ ƚǁĞůǀĞ ŵŽŶƚŚƐ ŐƌŽƐƐƌĞŵƵŶĞƌĂƚŝŽŶ͕ ĞǆĐůƵĚŝŶŐ ďŽŶƵƐĞƐ ĂŶĚ ŽƚŚĞƌĐŽŵƉůĞŵĞŶƚĂƌǇ ƌĞŵƵŶĞƌĂƚŝŽŶ͘ dŚĞ ůŝĂďŝůŝƚǇǁŚŝĐŚ ŝƐ ƉĂŝĚ ŽŶĐĞ ƵƉŽŶ ƚŚĞ ƌĞƚŝƌĞŵĞŶƚ ŽĨ ƚŚĞĞŵƉůŽǇĞĞ ŝƐ ƌĞĐŽŐŶŝƐĞĚ ŝŶ ƚŚĞ ďĂůĂŶĐĞ ƐŚĞĞƚ ŝŶƌĞƐƉĞĐƚ ŽĨ ƚŚĞƐĞ ĚĞĨŝŶĞĚ ďĞŶĞĨŝƚ ƉĞŶƐŝŽŶ ƉůĂŶƐ͘dŚŝƐŝƐƚŚĞ ƉƌĞƐĞŶƚǀĂůƵĞŽĨƚŚĞĚĞĨŝŶĞĚďĞŶĞĨŝƚŽďůŝŐĂƚŝŽŶĂƚƚŚĞĞŶĚŽĨƚŚĞƌĞƉŽƌƚŝŶŐƉĞƌŝŽĚ͘dŚĞĚĞĨŝŶĞĚďĞŶĞĨŝƚŽďůŝŐĂƚŝŽŶŝƐĐĂůĐƵůĂƚĞĚĞĂĐŚǇĞĂƌƵƐŝŶŐ ƚŚĞ ƉƌŽũĞĐƚĞĚ ƵŶŝƚ ĐƌĞĚŝƚ ŵĞƚŚŽĚ͘ dŚĞƉƌĞƐĞŶƚǀĂůƵĞŽĨƚŚĞĚĞĨŝŶĞĚďĞŶĞĨŝƚŽďůŝŐĂƚŝŽŶŝƐĚĞƚĞƌŵŝŶĞĚďǇĚŝƐĐŽƵŶƚŝŶŐƚŚĞĞƐƚŝŵĂƚĞĚĨƵƚƵƌĞĐĂƐŚŽƵƚĨůŽǁƐƵƐŝŶŐŝŶƚĞƌĞƐƚƌĂƚĞƐŽĨŚŝŐŚͲƋƵĂůŝƚǇĐŽƌƉŽƌĂƚĞ ďŽŶĚƐ ƚŚĂƚ ĂƌĞ ĚĞŶŽŵŝŶĂƚĞĚ ŝŶ ƚŚĞĐƵƌƌĞŶĐǇŝŶǁŚŝĐŚƚŚĞďĞŶĞĨŝƚƐǁŝůůďĞƉĂŝĚ͕ĂŶĚƚŚĂƚ ŚĂǀĞ ƚĞƌŵƐ ĂƉƉƌŽǆŝŵĂƚŝŶŐ ƚŽ ƚŚĞ ƚĞƌŵƐ ŽĨƚŚĞƌĞůĂƚĞĚŽďůŝŐĂƚŝŽŶ͘dŚĞŶĞƚŝŶƚĞƌĞƐƚĐŽƐƚŝƐĐĂůĐƵůĂƚĞĚďǇĂƉƉůǇŝŶŐƚŚĞĚŝƐĐŽƵŶƚ ƌĂƚĞƚŽƚŚĞŶĞƚďĂůĂŶĐĞŽĨƚŚĞĚĞĨŝŶĞĚďĞŶĞĨŝƚ ŽďůŝŐĂƚŝŽŶ͘ dŚŝƐ ĐŽƐƚ ŝƐ ŝŶĐůƵĚĞĚ ŝŶĞŵƉůŽǇĞĞ ďĞŶĞĨŝƚ ĞǆƉĞŶƐĞ ŝŶ ƚŚĞ ƐƚĂƚĞŵĞŶƚ ŽĨƉƌŽĨŝƚŽƌůŽƐƐ͘ZĞŵĞĂƐƵƌĞŵĞŶƚ ŐĂŝŶƐ ĂŶĚ ůŽƐƐĞƐ ĂƌŝƐŝŶŐ ĨƌŽŵĞǆƉĞƌŝĞŶĐĞĂĚũƵƐƚŵĞŶƚƐĂŶĚĐŚĂŶŐĞƐŝŶĂĐƚƵĂƌŝĂůĂƐƐƵŵƉƚŝŽŶƐ ĂƌĞ ƌĞĐŽŐŶŝƐĞĚ ŝŶ ƚŚĞ ƉĞƌŝŽĚ ŝŶǁŚŝĐŚ ƚŚĞǇ ŽĐĐƵƌ͕ ĚŝƌĞĐƚůǇ ŝŶ ŽƚŚĞƌĐŽŵƉƌĞŚĞŶƐŝǀĞ ŝŶĐŽŵĞ͘ dŚĞǇ ĂƌĞ ŝŶĐůƵĚĞĚ ŝŶƌĞƚĂŝŶĞĚĞĂƌŶŝŶŐƐŝŶƚŚĞƐƚĂƚĞŵĞŶƚŽĨĐŚĂŶŐĞƐŝŶĞƋƵŝƚǇĂŶĚŝŶƚŚĞďĂůĂŶĐĞƐŚĞĞƚ͘
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55

WORLD ATHLETICS ANNUAL REPORT AND ACCOUNTS 2023

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Appendix A – 2023 Audited Financial Statements

WWW.WORLDATHLETICS.ORG&Žƌ ƉƌŽĨŝƚ ƐŚĂƌĞ ƌĞǀĞŶƵĞ ƌĞĐŽŐŶŝƚŝŽŶ͕ŵĂŶĂŐĞŵĞŶƚĞǆĞƌĐŝƐĞƐŝƚƐũƵĚŐĞŵĞŶƚƚŽĚĞƚĞƌŵŝŶĞ ĂŶ ĞƐƚŝŵĂƚĞ ŽĨ ƚŚĞ ƉƌŽĨŝƚ ƐŚĂƌĞĚŝƌĞĐƚůǇ ĂƚƚƌŝďƵƚĂďůĞ ƚŽ ƚŚĞ ĨŝŶĂŶĐŝĂů ǇĞĂƌ ĂŶĚƌĞĐŽŐŶŝƐĞƐƚŚŝƐŝŶƚŚĞƉĞƌŝŽĚŝƚŝƐĞĂƌŶĞĚ͘dĞĐŚŶŝĐĂů ĐĞƌƚŝĨŝĐĂƚŝŽŶƐ ƉƌŽǀŝĚĞĚ ďǇ tŽƌůĚƚŚůĞƚŝĐƐĂƌĞƉĞƌĨŽƌŵĞĚĂƚĂƉŽŝŶƚŝŶƚŝŵĞǁŝƚŚĂĐĞƌƚŝĨŝĐĂƚŝŽŶ ĚƵƌĂƚŝŽŶ ŽĨ ƚŚƌĞĞ Žƌ ĨŝǀĞ ǇĞĂƌƐ͕ƌĞŐĂƌĚŝŶŐ ƐƉŽƌƚŝǀĞ ŝŶĨƌĂƐƚƌƵĐƚƵƌĞƐ͘ ZĞǀĞŶƵĞŐĞŶĞƌĂƚĞĚ ĨƌŽŵ dĞĐŚŶŝĐĂů ĐĞƌƚŝĨŝĐĂƚŝŽŶƐ ŝƐƌĞĐŽŐŶŝƐĞĚĂƚĂƉŽŝŶƚŝŶƚŝŵĞǁŚĞŶƚŚĞƚĞĐŚŶŝĐĂůĐĞƌƚŝĨŝĐĂƚŝŽŶŝƐƉƌŽǀŝĚĞĚ͘dŚĞ ƉĞƌĨŽƌŵĂŶĐĞ ŽďůŝŐĂƚŝŽŶƐ ŚĂǀĞ ďĞĞŶĚĞƚĞƌŵŝŶĞĚ ĨŽƌ ĞĂĐŚ ĐŽŶƚƌĂĐƚ ĂŶĚ ƚŚĞ ƌĞǀĞŶƵĞƌĞĐŽŐŶŝƚŝŽŶŵĞƚŚŽĚĨŽƌĞĂĐŚĐŽŶƚƌĂĐƚ ŚĂƐďĞĞŶĚĞƚĞƌŵŝŶĞĚŝŶĂĐĐŽƌĚĂŶĐĞǁŝƚŚ/&Z^ϭϱ͘

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&/EE/>Z/^<DE'DEddŚĞ ƐƐŽĐŝĂƚŝŽŶ’s overall risk management program focuses on the unpredictability of the financialŵĂƌŬĞƚƐĂŶĚƐĞĞŬƐƚŽŵŝŶŝŵŝƐĞĂŶǇƉŽƚĞŶƚŝĂůĂĚǀĞƌƐĞĞĨĨĞĐƚƐŽŶƚŚĞƐƐŽĐŝĂƚŝŽŶ’s financial performance.
dŚĞDĂŶĂŐĞŵĞŶƚŽĂƌĚƉƌŽǀŝĚĞƐƉƌŝŶĐŝƉůĞƐĨŽƌƚŚĞŽǀĞƌĂůůŵĂŶĂŐĞŵĞŶƚŽĨƌŝƐŬƐƐƵĐŚĂƐĨŽƌĞŝŐŶĞǆĐŚĂŶŐĞƌŝƐŬ͕ĐƌĞĚŝƚƌŝƐŬĂŶĚůŝƋƵŝĚŝƚǇƌŝƐŬ͘;ĂͿ&ŽƌĞŝŐŶĞǆĐŚĂŶŐĞƌŝƐŬdŚĞƐƐŽĐŝĂƚŝŽŶŽƉĞƌĂƚĞƐŝŶƚĞƌŶĂƚŝŽŶĂůůǇĂŶĚŝƐĞǆƉŽƐĞĚƚŽĨŽƌĞŝŐŶĞǆĐŚĂŶŐĞƌŝƐŬĂƌŝƐŝŶŐĨƌŽŵƚƌĂŶƐĂĐƚŝŽŶƐĚĞŶŽŵŝŶĂƚĞĚŝŶĐƵƌƌĞŶĐŝĞƐŽƚŚĞƌƚŚĂŶƚŚĞhŶŝƚĞĚ^ƚĂƚĞƐŽůůĂƌ͕ǁŚŝĐŚŝƐƚŚĞĨƵŶĐƚŝŽŶĂůĂŶĚƉƌĞƐĞŶƚĂƚŝŽŶĐƵƌƌĞŶĐǇŽĨƚŚĞƐƐŽĐŝĂƚŝŽŶ͘

Appendix A – 2023 Audited Financial Statements

WWW.WORLDATHLETICS.ORG

KƉĞƌĂƚŝŶŐ ŝŶĐŽŵĞͬĞǆƉĞŶƐĞƐ ĂŶĚ ƚŚĞ ĐĂƐŚ ĨůŽǁƐ ŽĨ ƚŚĞ ƐƐŽĐŝĂƚŝŽŶ ĂƌĞ ĂĨĨĞĐƚĞĚ ďǇ ĞǆĐŚĂŶŐĞ ƌĂƚĞĨůƵĐƚƵĂƚŝŽŶƐ͕ƉƌŝŶĐŝƉĂůůǇďĞƚǁĞĞŶƚŚĞƵƌŽĂŶĚƚŚĞh^ŽůůĂƌ͘dŚĞƐƐŽĐŝĂƚŝŽŶĞƐƚŝŵĂƚĞƐƚŚĂƚƚŚĞŝŵƉĂĐƚŝŶĂďƐŽůƵƚĞƚĞƌŵƐŽĨĂϭϬйŝŶĐƌĞĂƐĞŽƌĚĞĐƌĞĂƐĞŝŶƚŚŝƐƌĂƚĞŽŶŝƚƐŽƉĞƌĂƚŝŶŐŝŶĐŽŵĞĨŽƌƚŚĞǇĞĂƌĞŶĚĞĚϯϭĞĐĞŵďĞƌϮϬϮϯǁŽƵůĚŶŽƚŚĂǀĞďĞĞŶŵĂƚĞƌŝĂů͘ƵƌŝŶŐƚŚĞƉĞƌŝŽĚƐƉƌĞƐĞŶƚĞĚ͕ƚŚĞƐƐŽĐŝĂƚŝŽŶĚŝĚŶŽƚĞŶŐĂŐĞŝŶĂŶǇŚĞĚŐŝŶŐŽƉĞƌĂƚŝŽŶƐ͘;ďͿƌĞĚŝƚƌŝƐŬƌĞĚŝƚƌŝƐŬŝƐŵĂŶĂŐĞĚŽŶĂŶƐƐŽĐŝĂƚŝŽŶͲǁŝĚĞďĂƐŝƐ͘ƌĞĚŝƚƌŝƐŬĂƌŝƐĞƐĨƌŽŵĐĂƐŚĂŶĚĐĂƐŚĞƋƵŝǀĂůĞŶƚƐ͕ĂŶĚĚĞƉŽƐŝƚƐ ǁŝƚŚ ďĂŶŬƐ ĂŶĚ ĨŝŶĂŶĐŝĂů ŝŶƐƚŝƚƵƚŝŽŶƐ͕ ĂƐ ǁĞůů ĂƐ ĐƌĞĚŝƚ ĞǆƉŽƐƵƌĞ ƚŽ ĐƵƐƚŽŵĞƌƐ͕ ŝŶĐůƵĚŝŶŐŽƵƚƐƚĂŶĚŝŶŐ ƌĞĐĞŝǀĂďůĞƐ ĂŶĚ ĐŽŵŵŝƚƚĞĚƚƌĂŶƐĂĐƚŝŽŶƐ͘ dŚĞ ĐƌĞĚŝƚ ƌŝƐŬ ŽŶ ƌĞĐĞŝǀĂďůĞƐ ŝƐŵŝƚŝŐĂƚĞĚ ďǇ ƚŚĞƋƵĂůŝƚǇŽĨƚŚĞĐůŝĞŶƚ͘ƌĞĚŝƚƌŝƐŬůŝŶŬĞĚƚŽĐĂƐŚ͕ĚĞƉŽƐŝƚƐĂŶĚĐƵƌƌĞŶƚĨŝŶĂŶĐŝĂůŝŶƐƚƌƵŵĞŶƚƐŝƐŶŽƚŵĂƚĞƌŝĂůŐŝǀĞŶƚŚĞƋƵĂůŝƚǇŽĨƚŚĞĨŝŶĂŶĐŝĂůinstitutions’ĐŽƵŶƚĞƌƉĂƌƚŝĞƐ͘;ĐͿ>ŝƋƵŝĚŝƚǇƌŝƐŬDĂŶĂŐĞŵĞŶƚŵŽŶŝƚŽƌƐƌŽůůŝŶŐĨŽƌĞĐĂƐƚƐŽĨƚŚĞƐƐŽĐŝĂƚŝŽŶ’s liquidity requirementsŽŶĂƋƵĂƌƚĞƌůǇďĂƐŝƐƚŽĞŶƐƵƌĞŝƚŚĂƐĞŶŽƵŐŚĐĂƐŚĂǀĂŝůĂďůĞƚŽŵĞĞƚŝƚƐŽƉĞƌĂƚŝŽŶĂůŶĞĞĚƐ͘ǆƉĞŶĚŝƚƵƌĞƚƌĞŶĚƐĂƌĞďĂůĂŶĐĞĚǁŝƚŚĐŽŵŵŝƚƚĞĚƌĞǀĞŶƵĞƐƚŽĞŶƐƵƌĞĂĚĞƋƵĂƚĞůŝƋƵŝĚŝƚǇŝƐŵĂŝŶƚĂŝŶĞĚ͘tŽƌůĚƚŚůĞƚŝĐƐďĞŶĞĨŝƚƐĨƌŽŵůŽŶŐƚĞƌŵŽŵŵĞƌĐŝĂůĂŶĚƌŽĂĚĐĂƐƚĐŽŶƚƌĂĐƚƐƚŚĂƚ ƉƌŽǀŝĚĞ ĨůĞǆŝďŝůŝƚǇŝŶŵĂŶĂŐŝŶŐŽƉĞƌĂƚŝŽŶĂůĐĂƐŚŶĞĞĚƐ͘/ŶĂĚĚŝƚŝŽŶ͕ƚŚĞKůǇŵƉŝĐŝǀŝĚĞŶĚŐĞŶĞƌĂůůǇƌĞĐĞŝǀĞĚĞǀĞƌǇĨŽƵƌǇĞĂƌƐĂůůŽǁƐƚŚĞƐƐŽĐŝĂƚŝŽŶƚŽƐŵŽŽƚŚĞŶŝƚƐůŽŶŐͲƚĞƌŵĞǆƉĞŶĚŝƚƵƌĞƉĂƚƚĞƌŶƐ͘

tKZ>d,>d/^&/EE/>ZWKZdͮƉ͘Ϯϰ

59

WORLD ATHLETICS ANNUAL REPORT AND ACCOUNTS 2023

D͘ Z/d/>KhEd/E'^d/Dd^E:h'DEddŚĞƉƌĞƉĂƌĂƚŝŽŶŽĨĨŝŶĂŶĐŝĂůƐƚĂƚĞŵĞŶƚƐƌĞƋƵŝƌĞƐƚŚĞ ƵƐĞ ŽĨ ĂĐĐŽƵŶƚŝŶŐ ĞƐƚŝŵĂƚĞƐ ǁŚŝĐŚ͕ ďǇĚĞĨŝŶŝƚŝŽŶ͕ ǁŝůů ƐĞůĚŽŵ ĞƋƵĂů ƚŚĞ ĂĐƚƵĂů ƌĞƐƵůƚƐ͘DĂŶĂŐĞŵĞŶƚĂůƐŽŶĞĞĚƐƚŽĞǆĞƌĐŝƐĞ ũƵĚŐĞŵĞŶƚŝŶĂƉƉůǇŝŶŐƚŚĞƐƐŽĐŝĂƚŝŽŶ’s accounting policies.
dŚŝƐŶŽƚĞƉƌŽǀŝĚĞƐĂŶŽǀĞƌǀŝĞǁŽĨƚŚĞĂƌĞĂƐƚŚĂƚŝŶǀŽůǀĞĚ Ă ŚŝŐŚĞƌ ĚĞŐƌĞĞ ŽĨ ũƵĚŐĞŵĞŶƚ ŽƌĐŽŵƉůĞǆŝƚǇ͕ĂŶĚŽĨŝƚĞŵƐǁŚŝĐŚĂƌĞŵŽƌĞůŝŬĞůǇƚŽďĞ ŵĂƚĞƌŝĂůůǇ ĂĚũƵƐƚĞĚ ĚƵĞ ƚŽ ĞƐƚŝŵĂƚĞƐ ĂŶĚĂƐƐƵŵƉƚŝŽŶƐ ƚƵƌŶŝŶŐ ŽƵƚ ƚŽ ďĞ ǁƌŽŶŐ͘ ĞƚĂŝůĞĚŝŶĨŽƌŵĂƚŝŽŶ ĂďŽƵƚ ĞĂĐŚ ŽĨ ƚŚĞƐĞ ĞƐƚŝŵĂƚĞƐĂŶĚũƵĚŐĞŵĞŶƚƐ ŝƐ ŝŶĐůƵĚĞĚ ŝŶŽƚŚĞƌ ŶŽƚĞƐƚŽŐĞƚŚĞƌǁŝƚŚ ŝŶĨŽƌŵĂƚŝŽŶ ĂďŽƵƚ ƚŚĞ ďĂƐŝƐ ŽĨ ĐĂůĐƵůĂƚŝŽŶĨŽƌ ĞĂĐŚ ĂĨĨĞĐƚĞĚ ůŝŶĞ ŝƚĞŵ ŝŶ ƚŚĞ ĨŝŶĂŶĐŝĂůƐƚĂƚĞŵĞŶƚƐ͘ͲdĞůĞǀŝƐŝŽŶ ƌŝŐŚƚƐ ĂŶĚ ĐŽŵŵĞƌĐŝĂů ƌŝŐŚƚƐƉĞƌĨŽƌŵĂŶĐĞ ŽďůŝŐĂƚŝŽŶƐ͘ DĂŶĂŐĞŵĞŶƚ ƵƐĞƐ ŝƚƐũƵĚŐĞŵĞŶƚ ƚŽ ĚĞƚĞƌŵŝŶĞ ƚŚĞ ƵŶŝƋƵĞƉĞƌĨŽƌŵĂŶĐĞŽďůŝŐĂƚŝŽŶ͕ǁŚŝĐŚŝƐĚĞĨŝŶĞĚĂƐƚŚĞƌŝŐŚƚƚŽĂĐĐĞƐƐŝŶƚĞůůĞĐƚƵĂůƉƌŽƉĞƌƚǇ͘ͲĐĐƌƵĂů ŽĨ ƉƌŽĨŝƚ ƐŚĂƌĞ ĞǆƉĞĐƚĂƚŝŽŶ ĨŽƌƚŚĞ ǇĞĂƌ͘ DĂŶĂŐĞŵĞŶƚ ĞǆĞƌĐŝƐĞƐ ŝƚƐ ũƵĚŐĞŵĞŶƚƚŽĚĞƚĞƌŵŝŶĞ ĂŶ ĞƐƚŝŵĂƚĞ ŽĨ ƚŚĞ ƉƌŽĨŝƚ ƐŚĂƌĞĚŝƌĞĐƚůǇ ĂƚƚƌŝďƵƚĂďůĞ ƚŽ ƚŚĞ ĨŝŶĂŶĐŝĂů ǇĞĂƌ ĂŶĚǁŚĞŶƚŚĞƌĞĐŽŐŶŝƚŝŽŶĐƌŝƚĞƌŝĂŚĂƐďĞĞŶŵĞƚ͘ͲsĂůƵĞŝŶŬŝŶĚĂŵŽƵŶƚĨŽƌǇĞĂƌŝŶĐůƵĚĞĚŝŶƌĞǀĞŶƵĞ͘ DĂŶĂŐĞŵĞŶƚ ŝƐ ƌĞƋƵŝƌĞĚ ƚŽ ĞƐƚŝŵĂƚĞƚŚĞ ĨĂŝƌ ǀĂůƵĞ ŽĨ ĂŶǇ ǀĂůƵĞ ŝŶ ŬŝŶĚ ŐŽŽĚƐ ŽƌƐĞƌǀŝĐĞƐ ƌĞĐĞŝǀĞĚ ĚƵƌŝŶŐ ƚŚĞ ƉĞƌŝŽĚ ĂŶĚ ƌĞĐŽƌĚƚŚĞƐĞ ĂŵŽƵŶƚƐ ĂƐ ƌĞǀĞŶƵĞ ĂŶĚ ĞǆƉĞŶƐĞƐ͘ĞƚĞƌŵŝŶŝŶŐĨĂŝƌǀĂůƵĞƌĞƋƵŝƌĞƐŵĂŶĂŐĞŵĞŶƚƚŽĞǆĞƌĐŝƐĞƐŝŐŶŝĨŝĐĂŶƚũƵĚŐĞŵĞŶƚ͘/ŶƚŚĞĞǀĞŶƚĨĂŝƌǀĂůƵĞĐĂŶŶŽƚďĞƌĞĂƐŽŶĂďůǇĞƐƚŝŵĂƚĞĚ͕ŶŽǀĂůƵĞŝƐƌĞĐŽŐŶŝƐĞĚ͘ 

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ϮϬϮϯ

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ƌŽĂĚĐĂƐƚZŝŐŚƚƐϭϰ͕ϳϮϱϭϰ͕ϳϮϱŽŵŵĞƌĐŝĂůZŝŐŚƚƐϭϯ͕ϬϬϬϭϯ͕ϬϬϬŽŵŵĞƌĐŝĂůZŝŐŚƚƐ;WƌŽĨŝƚƐŚĂƌĞͿϭϭ͕Ϭϲϯϳ͕ϵϳϳ

sĂůƵĞŝŶŬŝŶĚϲ͕ϭϴϳ

ϭϭ͕ϲϳϮŝŶŬh^ŝĂŵŽŶĚ>ĞĂŐƵĞϭ͕ϯϬϬ

ϭ͕ϯϱϬ

dŽƚĂůƌĞǀĞŶƵĞĨƌŽŵƌŽĂĚĐĂƐƚZŝŐŚƚƐĂŶĚŽŵŵĞƌĐŝĂůZŝŐŚƚƐϰϲ͕Ϯϳϱϰϴ͕ϳϮϰ

Appendix A – 2023 Audited Financial Statements

WWW.WORLDATHLETICS.ORGϮ͘ Kd,ZZsEh&ZKDd/s/d/^ŝŶŬh^

ϮϬϮϯ

ϮϬϮϮ

ZƵƐƐŝĂŶƚŚůĞƚŝĐƐ&ĞĚĞƌĂƚŝŽŶƌĞŝŵďƵƌƐŵĞŶƚϳϳϴϭ͕ϭϭϯ

<ĞŶǇĂƌĞŝŵďƵƌƐŵĞŶƚ

ϲϱϰ

Ϭ

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ϮϱϬ

ϮϱϬ

ϭ͕ϯϵϰ

ϭ͕ϱϵϯϰϵϮϯKƚŚĞƌŝŶĐŽŵĞϰ͕ϳϵϳ

ϯ͕Ϯϭϵ

dŽƚĂůƌĞǀĞŶƵĞĨƌŽŵŽƚŚĞƌĂĐƚŝǀŝƚŝĞƐϳ͕ϵϮϯ

ϲ͕ϭϵϵ

ŽƵƌƚŽĨƌďŝƚƌĂƚŝŽŶĨŽƌ^ƉŽƌƚƌĞĨƵŶĚKƚŚĞƌƌĞǀĞŶƵĞŝŶĐůƵĚĞƐŵŽŶŝĞƐƌĞĐĞŝǀĞĚĂĐƌŽƐƐĂŚŽƐƚŽĨŵŝƐĐĞůůĂŶĞŽƵƐĂƌĞĂƐĂŶĚƐŽŵĞŽĨƚŚĞƐŝŐŶŝĨŝĐĂŶƚŽŶĞƐŝŶĐůƵĚĞĚĂƌĞƌĞŝŵďƵƌƐĞŵĞŶƚƐƚŚĂƚŽĨĨƐĞƚĂŶĞƋƵĂůĂŵŽƵŶƚŝŶĐůƵĚĞĚŝŶĞǆƉĞŶĚŝƚƵƌĞ͘ǆĂŵƉůĞƐŝŶĐůƵĚĞƚŚĞ ZƵƐƐŝĂŶ ƚŚůĞƚŝĐƐ &ĞĚĞƌĂƚŝŽŶ ƌĞŝŵďƵƌƐĞŵĞŶƚ͕ <ĞŶǇĂ ƌĞŝŵďƵƌƐĞŵĞŶƚ and ‘Other income’ whichŝŶĐůƵĚĞƐŝŶĐŽŵĞƌĞĐĞŝǀĞĚĨƌŽŵƚŚĞ>ĂďĞůZŽĂĚZĂĐĞƉƌŽŐƌĂŵĂŶĚsĂůƵĞŝŶ<ŝŶĚƌĞŝŶǀŽŝĐĞĚƚŽt^ǀĞŶƚƐ>ŽĐĂůŽƌŐĂŶŝǌĞƌƐ͘ĞƌƚŝĨŝĐĂƚŝŽŶŝŶĐŽŵĞƉĞƌƚĂŝŶƐƚŽŵŽŶŝĞƐƌĞĐĞŝǀĞĚĨƌŽŵĂĐƌŽƐƐƚŚĞŐůŽďĞǁŚĞƌĞtŽƌůĚƚŚůĞƚŝĐƐĂƐƐŝƐƚƐŝŶĚĞĨŝŶŝŶŐĂŶĚŵĞĂƐƵƌŝŶŐƐƚĂŶĚĂƌĚƐĨŽƌƚƌĂĐŬƐĂŶĚĞƋƵŝƉŵĞŶƚƵƐĞĚŝŶĂƚŚůĞƚŝĐƐĞǀĞŶƚƐ͘

tKZ>d,>d/^&/EE/>ZWKZdͮƉ͘Ϯϲ

61

WORLD ATHLETICS ANNUAL REPORT AND ACCOUNTS 2023

ϯ͘ KDWd/d/KEEsEd^ŝŶŬh^

ϮϬϮϯ

ϮϬϮϮ

tŽƌůĚĐŚĂŵƉŝŽŶƐŚŝƉƐϰ͕ϵϱϳ

ϴ͕ϴϮϴ

ŝĂŵŽŶĚ>ĞĂŐƵĞϮ͕ϰϯϱ

Ϯ͕ϰϳϵ

KůǇŵƉŝĐ'ĂŵĞƐϯϳtdŽƵƌƐΘWĞƌŵŝƚϮ͕ϬϲϮ

ϭ͕ϴϴϭ

KƚŚĞƌĞǆƉĞŶƐĞƐ;ŽŵƉĞƚŝƚŝŽŶΘǀĞŶƚƐͿϭ͕ϱϭϬ

ϭ͕ϲϴϴ

/ŶƚĞƌŶĂƚŝŽŶĂůKƌŐĂŶŝƐĂƚŝŽŶƐƵƉƉŽƌƚ^ƉĞĐŝĂůWƌŽũĞĐƚϭϱϬ 
ϭ͕ϴϬϭ ^ƚĂĨĨĐŽƐƚƐĂŶĚĐŽŶƐƵůƚĂŶƚƐϯ͕ϯϰϳ

Ϯ͕Ϯϳϯ

ŽŵƉĞƚŝƚŝŽŶΘǀĞŶƚƐϭϲ͕Ϯϲϱϭϳ͕ϭϱϱsĂůƵĞŝŶŬŝŶĚĐŽŵŵŝƐƐŝŽŶƐϲ͕ϵϰϳ

ϭϯ͕ϭϮϴ/ŶĨŽƌŵĂƚŝŽŶƚĞĐŚŶŽůŽŐǇϯ͕ϵϵϵ

ϯ͕ϱϬϴ

ƌŽĂĚĐĂƐƚŝŶŐϭ͕ϴϵϵ

ϭ͕ϰϵϯ

DĂƌŬĞƚŝŶŐϭ͕Ϭϵϲ

ϭ͕Ϭϵϯϱϲϰϰϵϰϯ͕ϴϭϵ

ϯ͕ϵϰϲ

ŽŵŵĞƌĐŝĂůƉĂƌƚŶĞƌƐŚŝƉƐŽŵŵƵŶŝĐĂƚŝŽŶΘƉƵďůŝĐĂƚŝŽŶƐ,ĞĂůƚŚΘƐĐŝĞŶĐĞdŽƚĂůŽŵƉĞƚŝƚŝŽŶΘǀĞŶƚƐ

ϳϴϮ

ϴϭϬ

ϯϱ͕ϯϳϭϰϭ͕ϲϮϳdŚŝƐ ŝŶĐůƵĚĞƐ ƐƉĞŶĚ ŽŶ ŽƵƌ tŽƌůĚ ƚŚůĞƚŝĐƐ ^ĞƌŝĞƐ ;t^Ϳ ĞǀĞŶƚƐ ĂŶĚ ĐŽƐƚƐ ĨŽƌ ŽƚŚĞƌ tŽƌůĚ ƚŚůĞƚŝĐƐĚĞƉĂƌƚŵĞŶƚƐƚŚĂƚǁŽƌŬŵŽƐƚĐůŽƐĞůǇǁŝƚŚŽƵƌĞǀĞŶƚĐǇĐůĞ͘ϮϬϮϯŚĂĚĂĨƵůůĐĂůĞŶĚĂƌŽĨĞǀĞŶƚƐĂŶĚǁĞŚŽƐƚĞĚƚŚƌĞĞtŽƌůĚƚŚůĞƚŝĐ^ĞƌŝĞƐ;t^ͿĞǀĞŶƚƐĚƵƌŝŶŐƚŚĞǇĞĂƌ͘dŚĞƐĞŝŶĐůƵĚĞĚŽƵƌtŽƌůĚŚĂŵƉŝŽŶƐŚŝƉƐ͕tŽƌůĚƌŽƐƐͲĐŽƵŶƚƌǇŚĂŵƉŝŽŶƐŚŝƉƐ͕ĂŶĚƚŚĞŝŶĂƵŐƵƌĂůtŽƌůĚZŽĂĚ ZƵŶŶŝŶŐ ŚĂŵƉŝŽŶƐŚŝƉƐ͘ tĞ ŚŽƐƚĞĚ ĨŽƵƌ t^ ĞǀĞŶƚƐ ĚƵƌŝŶŐ ϮϬϮϮ ŝŶĐůƵĚŝŶŐ ƚŚĞ tŽƌůĚChampionships, World Indoors, and the World U’20͘dŚĞĂĚĚŝƚŝŽŶĂůĞǀĞŶƚƐŝŶϮϬϮϮĂůƐŽůĞĚƚŽŝŶĐƌĞĂƐĞĚsĂůƵĞŝŶŬŝŶĚĐŽŵŵŝƐƐŝŽŶƐƚŚĂƚŶĞĞĚĞĚƚŽďĞƉĂŝĚƚŚĂƚǇĞĂƌ͘dŚŝƐŝƐƚŚĞƉƌŝŵĂƌǇĚƌŝǀĞƌĨŽƌƚŚĞĚĞĐƌĞĂƐĞĚƐƉĞŶĚŝŶϮϬϮϯ͘/ŶϮϬϮϯǁĞůĂƵŶĐŚĞĚĂŶĞǁƉƌŽũĞĐƚƚŽŐƌŽǁŽƵƌĨĂŶĚĂƚĂĂŶĚĞŶŚĂŶĐĞŽƵƌĚŝŐŝƚĂůĨŽŽƚƉƌŝŶƚ͘dŚĞĂƐƐŽĐŝĂƚĞĚĐŽƐƚƐĨŽƌƚŚŝƐŶĞǁƉƌŽũĞĐƚĂƌĞƐŚŽǁŶŝŶƚŚĞƐƉĞĐŝĂůƉƌŽũĞĐƚƐůŝŶĞĂďŽǀĞ͘KƵƌŽƚŚĞƌŝŶƚĞƌŶĂůĚĞƉĂƌƚŵĞŶƚƐƚŚĂƚĐůŽƐĞůǇƐƵƉƉŽƌƚŽƵƌĂŶŶƵĂůĞǀĞŶƚƐĐǇĐůĞǁĞƌĞĂůƐŽĂďůĞƚŽĞǆĞĐƵƚĞŽŶŵŽƌĞĂĐƚŝǀŝƚŝĞƐĂŶĚƉƌŽũĞĐƚƐŝŶƐƵƉƉŽƌƚŽĨƚŚĞƐĞĞǀĞŶƚƐĚƵƌŝŶŐƚŚĞǇĞĂƌ͘ŽŶƐĞƋƵĞŶƚůǇ͕ƚŚĞŽǀĞƌĂůůƐƉĞŶĚƐďǇĚĞƉĂƌƚŵĞŶƚŝŶĐůƵĚĞĚĂďŽǀĞĂƌĞƐůŝŐŚƚůǇŚŝŐŚĞƌŝŶϮϬϮϮ͘dŚĞĂďŽǀĞƚŽƚĂůŝŶĐůƵĚĞƐŽƵƌĂŶŶƵĂůƐƉĞŶĚƚŽǁĂƌĚƐƚŚĞƐƵƉƉŽƌƚǁĞŽĨĨĞƌƚŽƚŚĞŝĂŵŽŶĚ>ĞĂŐƵĞ͘ůƐŽŝŶĐůƵĚĞĚ ŝŶ ƚŚŝƐ ƚŽƚĂů ŝƐ ƚŚĞ ƐƵƉƉŽƌƚ ǁĞ ŽĨĨĞƌ ƚŽ ƚŚĞ tŽƌůĚ ƚŚůĞƚŝĐƐ ŽŶƚŝŶĞŶƚĂů dŽƵƌ͕ tŽƌůĚ ƚŚůĞƚŝĐƐ/ŶĚŽŽƌdŽƵƌ͕tŽƌůĚƚŚůĞƚŝĐƐƌŽƐƐŽƵŶƚƌǇdŽƵƌ͕tŽƌůĚƚŚůĞƚŝĐƐZĂĐĞtĂůŬŝŶŐdŽƵƌ͕ĂŶĚtŽƌůĚƚŚůĞƚŝĐƐŽŵďŝŶĞĚǀĞŶƚƐdŽƵƌ͘

tKZ>d,>d/^&/EE/>ZWKZdͮƉ͘Ϯϳ62ϰ͘ 'ZEd^Es>KWDEdϮϬϮϯϭ͕ϲϬϭϮϬϮϮϭ͕ϱϴϴ

ĚƵĐĂƚŝŽŶ

ϱϵϱ

ϳϴϳ

KƚŚĞƌŝƚĞŵƐ

ϯϵϭ

ϯϲϭ

^ƚĂĨĨĐŽƐƚƐϭ͕ϬϳϬ

ϭ͕ϬϮϲ

ƌĞĂĚŵŝŶŝƐƚƌĂƚŝŽŶŐƌĂŶƚ;ďͿϭ͕ϰϱϬ

ϭ͕ϰϱϬ

ŽŵƉĞƚŝƚŝŽŶŐƌĂŶƚ;ĐͿϮ͕ϯϵϭ

Ϯ͕Ϯϱϳ

DĞŵďĞƌ&ĞĚĞƌĂƚŝŽŶŐƌĂŶƚ;ĚͿϭ͕ϳϭϬ

ϭ͕ϲϳϱ

ƚŚůĞƚŝĐƐ'ƌĂŶƚĨŽƌ'ƌŽǁƚŚ;ĞͿϮ͕ϯϴϴ

ϭ͕ϯϱϴϲϮϭϭϵϭϭ͕ϲϱϴϭϬ͕ϲϮϭŝŶŬh^ƌĞĂĞǀĞůŽƉŵĞŶƚŐƌĂŶƚ;ĂͿŽŶƚŝŶĞŶƚĂůƉƌŽŐƌĂŵ͕ĞǆĐĞƉƚŝŽŶŶĂůƐƵƉƉŽƌƚΘƚƌĂĐŬƐdŽƚĂů'ƌĂŶƚƐΘĞǀĞůŽƉŵĞŶƚdŚŝƐŝŶĐůƵĚĞƐtŽƌůĚƚŚůĞƚŝĐƐƐƉĞŶĚŽŶƚŚĞĞǀĞůŽƉŵĞŶƚŽĨƚŚĞƐƉŽƌƚĂŶĚƚŚĞƐƵƉƉŽƌƚƚŚĂƚǁĞŽĨĨĞƌƚŽŽƵƌDĞŵďĞƌ&ĞĚĞƌĂƚŝŽŶƐĂŶĚƌĞĂƐƐŽĐŝĂƚŝŽŶƐ͘

Appendix A – 2023 Audited Financial Statements

WWW.WORLDATHLETICS.ORG

In 2023, World Athletics increased its spending for grants and development, in a continuous effort topromote athletics around the world and contribute to the “World Plan for Athletics 2022-2030”. The
increase observed in grants and development expenses is mainly explained by Grants for Growth that grewby 76% (+$1.0m) as World Athletics pursue this Grant after its creation in 2022.

As a reminder, with the end of the 2020-2021 Athletic Olympic Dividend (AOD) cycle, no AOD were granted
in 2022 and 2023. Instead, World Athletics created the Athletics Grant for Growth (GFG) which aims at
funding projects that demonstrate a contribution to the objectives of the “World Plan for Athletics 20222030”. In 2023, $2.4m of GFG were distributed to federations around the world./ŶĂĚĚŝƚŝŽŶ͕ƚŚĞƐƉĞŶĚŽŶŽƵƌƌĞĂĞǀĞůŽƉŵĞŶƚŐƌĂŶƚ͕ĚƵĐĂƚŝŽŶ͕ĂŶĚDĞŵďĞƌ&ĞĚĞƌĂƚŝŽŶŐƌĂŶƚĂƌĞŝŶͲůŝŶĞǁŝƚŚƚŚĞƉƌĞǀŝŽƵƐǇĞĂƌŶƵŵďĞƌƐ͘ƌĞĂĞǀĞůŽƉŵĞŶƚŐƌĂŶƚƐ;ĂͿĂƌĞƉĂŝĚĂŶŶƵĂůůǇƚŽƐƵƉƉŽƌƚƌĞĂƐƐŽĐŝĂƚŝŽŶƐƚŽĚĞůŝǀĞƌĚĞǀĞůŽƉŵĞŶƚĂŶĚĞĚƵĐĂƚŝŽŶƉƌŽŐƌĂŵƐƉƌŝŵĂƌŝůǇƚŚƌŽƵŐŚƚŚĞƌĞĂĞǀĞůŽƉŵĞŶƚĞŶƚƌĞƐ;ƐͿ͘dŚĞƌĞĂƐĚĞƚĞƌŵŝŶĞƚŚĞŝƌďƵƐŝŶĞƐƐƉůĂŶƐĂŶĚĂĐƚŝǀŝƚŝĞƐƚŽďĞƐƵƉƉŽƌƚĞĚďĂƐĞĚŽŶƚŚĞŶĞĞĚƐŽĨƚŚĞŝƌŵĞŵďĞƌĨĞĚĞƌĂƚŝŽŶƐĂŶĚǁŝƚŚŝŶĂŶĂŐƌĞĞĚĚĞǀĞůŽƉŵĞŶƚĨƌĂŵĞǁŽƌŬǁŝƚŚtŽƌůĚƚŚůĞƚŝĐƐƉƌŽǀŝĚŝŶŐĂƐƵƉƉŽƌƚŝŶŐĂŶĚŽǀĞƌƐŝŐŚƚƌŽůĞ͘dŚĞƌĞĂƐĂƌĞƌĞƐƉŽŶƐŝďůĞĨŽƌƚŚĞĚĂǇͲƚŽͲĚĂǇŵĂŶĂŐĞŵĞŶƚŽĨƚŚĞƐŝŶƚŚĞŝƌƌĞƐƉĞĐƚŝǀĞƌĞŐŝŽŶĂŶĚĨŽƌƚŚĞƐĞůĞĐƚŝŽŶĂŶĚŽƌŐĂŶŝƐĂƚŝŽŶŽĨĞĚƵĐĂƚŝŽŶĂůĐŽĂĐŚŝŶŐĐŽƵƌƐĞƐĂŶĚƐĞŵŝŶĂƌƐ͘dǁŽĂĐƚŝǀŝƚŝĞƐƌĞŵĂŝŶŵĂŶĚĂƚŽƌǇĂƚƚŚĞƐ–women’s and youth.ƌĞĂĚŵŝŶŝƐƚƌĂƚŝŽŶŐƌĂŶƚƐ;ďͿĂƌĞƉĂŝĚĂŶŶƵĂůůǇƚŽĂƐƐŝƐƚƌĞĂƐƐŽĐŝĂƚŝŽŶƐƚŽŽƉĞƌĂƚĞĂŶĚŝŶĐůƵĚĞ͗•••DĂŝŶƚĂŝŶŝŶŐĂƉĞƌŵĂŶĞŶƚŽĨĨŝĐĞĂƐ,YĞĨƌĂǇŝŶŐ ĐŽƐƚƐ ŽĨ ƌĞŶƚ͕ ƵƚŝůŝƚŝĞƐ͕ ŝŶƚĞƌŶĞƚ͕ ƚĞůĞƉŚŽŶĞ͕ ǁĞďƐŝƚĞ͕ ŽĨĨŝĐĞ ƐƵƉƉůŝĞƐ͕ ƐƚĂĨĨ ƐĂůĂƌŝĞƐ͕ŝŶƐƚŝƚƵƚŝŽŶĂůŵĞĞƚŝŶŐƐĂŶĚŽƚŚĞƌĐŽƐƚƐ^ƵƉƉŽƌƚŝŶŐƚŚĞĚĞůŝǀĞƌǇŽĨŝŶƐƚŝƚƵƚŝŽŶĂůŵĞĞƚŝŶŐƐ͘ƌĞĂŽŵƉĞƚŝƚŝŽŶŐƌĂŶƚƐ;ĐͿĂƌĞƉĂŝĚĂŶŶƵĂůůǇƚŽƐƵƉƉŽƌƚƚŚĞŽƌŐĂŶŝƐĂƚŝŽŶĂŶĚĚĞůŝǀĞƌǇŽĨĐŽŵƉĞƚŝƚŝŽŶƐĂƚĂĐŽŶƚŝŶĞŶƚĂůůĞǀĞůŝŶĐůƵĚŝŶŐ͗

tKZ>d,>d/^&/EE/>ZWKZdͮƉ͘Ϯϴ

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WORLD ATHLETICS ANNUAL REPORT AND ACCOUNTS 2023

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ZĞŐŝŽŶĂůĂŶĚ/ŶƚĞƌŶĂƚŝŽŶĂůŽŵƉĞƚŝƚŝŽŶƐƌĞĂŚĂŵƉŝŽŶƐŚŝƉƐKŶĞͲĚĂǇŽŶƚŝŶĞŶƚĂůdŽƵƌŵĞĞƚŝŶŐƐ͘DĞŵďĞƌ&ĞĚĞƌĂƚŝŽŶŐƌĂŶƚƐ;ĚͿĂƌĞƉĂŝĚĂŶŶƵĂůůǇƚŽĞŶƐƵƌĞƚŚĞDĞŵďĞƌ&ĞĚĞƌĂƚŝŽŶĐĂŶĨƵŶĐƚŝŽŶĂŶĚŵĞĞƚŝƚƐďĂƐŝĐŵĞŵďĞƌƐŚŝƉŽďůŝŐĂƚŝŽŶƐ͘/ƚĐŽǀĞƌƐ͗•••ĚŵŝŶŝƐƚƌĂƚŝŽŶ;ŝŶĐůƵĚŝŶŐƐƚĂĨĨ͕ŽĨĨŝĐĞ͕ƵƚŝůŝƚŝĞƐĂŶĚĐŽŵŵƵŶŝĐĂƚŝŽŶĞƋƵŝƉŵĞŶƚͿKƌŐĂŶŝƐĂƚŝŽŶ;ŶĂƚŝŽŶĂůĐŚĂŵƉŝŽŶƐŚŝƉƐͿdƌĂǀĞůƚŽĐŽŵƉĞƚŝƚŝŽŶƐ͘'ƌĂŶƚƐ ĨŽƌ ŐƌŽǁƚŚ ;ĞͿ ŝƐ Ă ŽŶĞͲǇĞĂƌ ƉƌŽũĞĐƚͲďĂƐĞĚ ŐƌĂŶƚ ĚĞƐŝŐŶĞĚ ƚŽ ƐƵƉƉŽƌƚ DĞŵďĞƌ &ĞĚĞƌĂƚŝŽŶƐ ƚŽĚĞůŝǀĞƌƚŚĞŝĚĞŶƚŝĨŝĞĚĂĐƚŝŽŶƐĂŶĚŽďũĞĐƚŝǀĞƐǁŝƚŚŝŶƚŚĞtŽƌůĚWůĂŶĨŽƌƚŚůĞƚŝĐƐ͘DĞŵďĞƌ&ĞĚĞƌĂƚŝŽŶƐĐĂŶƵƐĞƚŚĞŐƌĂŶƚƚŽŚĞůƉĚĞůŝǀĞƌĂŶǇŽĨƚŚĞDĞŵďĞƌ&ĞĚĞƌĂƚŝŽŶĂĐƚŝŽŶƐůŝƐƚĞĚƵŶĚĞƌƚŚĞĨŽƵƌƐƚƌĂƚĞŐŝĐŐŽĂůƐĚĞƉĞŶĚĞŶƚŽŶƚŚĞŝƌŽǁŶƉƌŝŽƌŝƚŝĞƐĂŶĚŶĞĞĚƐ͘
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tŽƌůĚƚŚůĞƚŝĐƐŽƵŶĐŝůĂŶĚǆĞĐƵƚŝǀĞŽĂƌĚϭ͕ϮϬϵ

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dŽƚĂů>ĞŐĂůĂŶĚŽŵƉůŝĂŶĐĞϭϲ͕ϴϱϱϭϮ͕ϴϵϬdŚŝƐ ŝŶĐůƵĚĞƐ tŽƌůĚ ƚŚůĞƚŝĐƐ ƐƉĞŶĚ ŽŶ 'ŽǀĞƌŶĂŶĐĞ ĂĐƚŝǀŝƚŝĞƐ͕ >ĞŐĂů Θ ZĞŐƵůĂƚŽƌǇ ƐƉĞŶĚ ĂŶĚ ƐƉĞŶĚĂƐƐŽĐŝĂƚĞĚǁŝƚŚƚŚĞƚŚůĞƚŝĐƐ/ŶƚĞŐƌŝƚǇhŶŝƚ;/hͿ͘'ŽǀĞƌŶĂŶĐĞƐƉĞŶĚŝŶϮϬϮϯŝŶĐůƵĚĞƐƚŚĞĐŽƐƚƐĂƐƐŽĐŝĂƚĞĚǁŝƚŚƚŚĞŽŶŐƌĞƐƐƚŚĂƚǁĂƐŚĞůĚŝŶƵĚĂƉĞƐƚŝŶƵŐƵƐƚϮϬϮϯ͘ŝƐďĂŶĚŝŶŐŽĨƚŚĞZƵƐƐŝĂŶdĂƐŬ&ŽƌĐĞŝŶĞĂƌůǇϮϬϮϯŚĂƐůĞĚƚŽƚŚĞƌĞĚƵĐĞĚƐƉĞŶĚƐŚŽǁŶŝŶƚŚĞtŽƌůĚƚŚůĞƚŝĐƐtŽƌŬŝŶŐŐƌŽƵƉƐĞǆƉĞŶƐĞƐ͘ƐŝŶĞĂƌůŝĞƌǇĞĂƌƐ͕ǁĞŚĂǀĞĐŽŶƚŝŶƵĞĚƚŽĞŵďƌĂĐĞƚŚĞŶĞǁŶŽƌŵĂů ŽĨ ŚŽƐƚŝŶŐ ŵĞĞƚŝŶŐƐ ǀŝƌƚƵĂůůǇ ǁŚĞƌĞǀĞƌ ƉŽƐƐŝďůĞ ĂŶĚ ĐŽŶƐĞƋƵĞŶƚůǇ ďĞĞŶ ĂďůĞ ƚŽ ƌĂƚŝŽŶĂůŝǌĞ ŽƵƌŽǀĞƌĂůůƐƉĞŶĚĂƐƐŽĐŝĂƚĞĚǁŝƚŚŵĞĞƚŝŶŐƐĨŽƌŽƵƌǀĂƌŝŽƵƐďŽĚŝĞƐ͘dŚĞƐƉĞŶĚŝŶĐƵƌƌĞĚďǇŽƵƌŝŶͲŚŽƵƐĞ>ĞŐĂůĚĞƉĂƌƚŵĞŶƚŝƐŝŶĐůƵĚĞĚŝŶŽƵƌ>ĞŐĂůĞǆƉĞŶƐĞƐ͘/ŶĐƌĞĂƐĞĚůŝƚŝŐĂƚŝŽŶĐŽƐƚƐĂůŽŶŐǁŝƚŚĂĚĚŝƚŝŽŶĂůĨŽĐƵƐĂŶĚĂƐƐŽĐŝĂƚĞĚƐƉĞŶĚŽŶ^ĂĨĞŐƵĂƌĚŝŶŐĂĐƚŝǀŝƚŝĞƐŚĂƐůĞĚƚŽƚŚĞŝŶĐƌĞĂƐĞŝŶĐŽƐƚƐŽǀĞƌϮϬϮϮ͘

tKZ>d,>d/^&/EE/>ZWKZdͮƉ͘Ϯϵ64dŚĞ ƚŚůĞƚŝĐƐ /ŶƚĞŐƌŝƚǇ hŶŝƚ ;/hͿ ŝƐ ĂŶ ŝŶĚĞƉĞŶĚĞŶƚ ďŽĚǇ ĐƌĞĂƚĞĚ ďǇ tŽƌůĚ ƚŚůĞƚŝĐƐ ƚŚĂƚ ŵĂŶĂŐĞƐ ĂůůŝŶƚĞŐƌŝƚǇŝƐƐƵĞƐ–ďŽƚŚĚŽƉŝŶŐĂŶĚŶŽŶͲĚŽƉŝŶŐ–ĨŽƌƚŚĞƐƉŽƌƚŽĨĂƚŚůĞƚŝĐƐ͘dŚĞŝƌĂŶŶƵĂůďƵĚŐĞƚŝƐĂƉƉƌŽǀĞĚďǇƚŚĞtŽƌůĚƚŚůĞƚŝĐƐǆĞĐƵƚŝǀĞŽĂƌĚ͘dŚĞŽǀĞƌĂůůƐƉĞŶĚĨƌŽŵƚŚĞ/hŝŶϮϬϮϯƌĞůĂƚĞƐƚŽƚŚĞĂŶƚŝͲĚŽƉŝŶŐǁŽƌŬŽĨƚŚĞ/hĂŵŽƵŶƚŝŶŐƚŽΨϭϮ͘ϬŵŽĨƚŚĞƚŽƚĂů>ĞŐĂůΘŽŵƉůŝĂŶĐĞƐƉĞŶĚŽĨΨϭϲ͘ϴŵŝŶϮϬϮϯ͘ƵƌŝŶŐƚŚĞǇĞĂƌ͕ƚŚĞ/hĐŽŶĚƵĐƚĞĚŵŽƌĞĂŶƚŝͲĚŽƉŝŶŐƚĞƐƚŝŶŐƚŚĂŶŝƚŚĂƐĚŽŶĞŝŶƚŚĞƉĂƐƚ͕ĞƐƉĞĐŝĂůůǇĂƐĂŶĞǁĚŽƉŝŶŐƐĐĂŶĚĂůƌĞůĂƚĞĚƚŽ<ĞŶǇĂŶĂƚŚůĞƚĞƐĐĂŵĞƚŽůŝŐŚƚ͕ƌĞƋƵŝƌŝŶŐƚŚĞĐƌĞĂƚŝŽŶŽĨĂŶĞǁƚĂƐŬĨŽƌĐĞ͘/ŶĂĚĚŝƚŝŽŶ͕ƚŚĞĐŽŶƚŝŶƵŽƵƐĚĞǀĞůŽƉŵĞŶƚŽĨƚŚĞ>ĂďĞů ZŽĂĚ ZĂĐĞ ƉƌŽŐƌĂŵ ŐĞŶĞƌĂƚĞĚ ŵŽƌĞ ĚŽƉŝŶŐ ƚĞƐƚŝŶŐ ĞǆƉĞŶƐĞƐ ŝŶ ϮϬϮϯ ƚŚĂŶ ŝŶ ϮϬϮϮ ;ƐĞĞ KƚŚĞƌZĞǀĞŶƵĞĂďŽǀĞͿ͘dŚĞƚŽƚĂů/hƐƉĞŶĚĂƐƐŚŽǁŶĂďŽǀĞŝŶĐůƵĚĞƐƌĞŝŵďƵƌƐĞŵĞŶƚƐĨƌŽŵƚŚĞZƵƐƐŝĂŶƚŚůĞƚŝĐƐ&ĞĚĞƌĂƚŝŽŶĂŶĚ<ĞŶǇĂĂŶĚĂůƐŽŝŶĐůƵĚĞƐƚŚĞĐŽƐƚƐĂƐƐŽĐŝĂƚĞĚǁŝƚŚŐĞŶĞƌĂƚŝŶŐĂĚĚŝƚŝŽŶĂůŝŶĐŽŵĞƐĨƌŽŵƚŚĞ>ĂďĞůZŽĂĚZĂĐĞWƌŽŐƌĂŵŵĞĨŽƌǁŚŝĐŚƚŚĞŽĨĨƐĞƚƚŝŶŐĂŵŽƵŶƚƐŚĂǀĞďĞĞŶŝŶĐůƵĚĞĚŝŶ“Other Revenue”͘ŽŶƐĞƋƵĞŶƚůǇ͕ƚŚĞϮϬϮϯŶĞƚĞǆƉĞŶƐĞĨŽƌƚŚĞ/hŝƐŝŶůŝŶĞǁŝƚŚƉƌŝŽƌǇĞĂƌƐ͘

Appendix A – 2023 Audited Financial Statements

WWW.WORLDATHLETICS.ORGϲ͘ D/E/^dZd/KEŝŶŬh^ĚŵŝŶŝƐƚƌĂƚŝŽŶϮϬϮϯϰ͕ϵϮϮ

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dŚŝƐŝŶĐůƵĚĞƐŽƵƌĨŝŶĂŶĐŝĂůŝŶĐŽŵĞƐĚƵƌŝŶŐƚŚĞǇĞĂƌƉƌŝŵĂƌŝůǇƌĞůĂƚĞĚƚŽƚŚĞŵƵůƚŝͲĐƵƌƌĞŶĐǇŝŵƉĂĐƚƐĨƌŽŵŽƵƌďƵƐŝŶĞƐƐŽƉĞƌĂƚŝŽŶƐ͘

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65

WORLD ATHLETICS ANNUAL REPORT AND ACCOUNTS 2023

ϴ͘ &/EE/>yWE^^ŝŶŬh^

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dŚŝƐŝŶĐůƵĚĞƐĨŝŶĂŶĐŝĂůĂŶĚďĂŶŬĐŚĂƌŐĞƐŝŶĐƵƌƌĞĚĚƵƌŝŶŐƚŚĞǇĞĂƌ͘
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tKZ>d,>d/^&/EE/>ZWKZdͮƉ͘ϯϭEŽƚĞƐƚŽƚŚĞĐŽŶƐŽůŝĚĂƚĞĚďĂůĂŶĐĞƐŚĞĞƚϵ͘ /Es^dDEd^/EYh/dzϮϬϮϯŝŶŬh^^ŝŐŶŝĨŝĐĂŶƚŝŶĨůƵĞŶĐĞĂƌƌǇŝŶŐĂŵŽƵŶƚĂƐĂƚ:ĂŶƵĂƌǇϭƐƚ

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ƵƌƌĞŶƚƐƐĞƚƐϮ͕ϭϯϵ

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ƵƌƌĞŶƚ>ŝĂďŝůŝƚŝĞƐϭ͕Ϯϴϱ

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ZĞǀĞŶƵĞϵ͕ϭϭϬ

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Appendix A – 2023 Audited Financial Statements

WWW.WORLDATHLETICS.ORG&ƵƌƚŚĞƌŵŽƌĞ͕tŽƌůĚƚŚůĞƚŝĐƐŚŽůĚƐĂϲйŝŶǀĞƐƚŵĞŶƚŝŶEŝƚƌŽƚŚůĞƚŝĐƐƵƐƚƌĂůŝĂǁŚŝĐŚŝƐŚĞůĚĂƚŶŝůǀĂůƵĞ͘

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67

WORLD ATHLETICS ANNUAL REPORT AND ACCOUNTS 2023

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WZKWZdz͕W>EdEYh/WDEddŚĞZŝŐŚƚŽĨhƐĞŽĨĂƐƐĞƚƐĚĞƚĂŝůĞĚďĞůŽǁƉƌĞĚŽŵŝŶĂŶƚůǇƌĞůĂƚĞƐƚŽůĞĂƐĞĚŽĨĨŝĐĞƐƉƌĞŵŝƐĞƐ͘WƌŽƉĞƌƚǇ͕ƉůĂŶƚĂŶĚĞƋƵŝƉŵĞŶƚďƌĞĂŬĚŽǁŶĂƐĨŽůůŽǁƐ͗KĨĨŝĐĞĨƵƌŶŝƚƵƌĞΘ ŽŵƉƵƚĞƌ>ĞĂƐĞŚŽůĚĞƋƵŝƉŵĞŶƚ ĞƋƵŝƉŵĞŶƚ ŝŵƉƌŽǀĞŵĞŶƚƐŝŶŬh^ŽƐƚĂůĂŶĐĞĂƐĂƚϯϭĞĐĞŵďĞƌϮϬϮϮĚĚŝƚŝŽŶƐĂůĂŶĐĞĂƐĂƚϯϭĞĐĞŵďĞƌϮϬϮϯĐĐƵŵƵůĂƚĞĚĚĞƉƌĞĐŝĂƚŝŽŶĂůĂŶĐĞĂƐĂƚϯϭĞĐĞŵďĞƌϮϬϮϮĞƉƌĞĐŝĂƚŝŽŶĂůĂŶĐĞĂƐĂƚϯϭĞĐĞŵďĞƌϮϬϮϯEĞƚĐĂƌƌǇŝŶŐĂŵŽƵŶƚƐĂƚϯϭĞĐĞŵďĞƌϮϬϮϮ^ĂƚϯϭĞĐĞŵďĞƌ
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KƚŚĞƌƌĞĐĞŝǀĂďůĞƐΘĐƵƌƌĞŶƚĂƐƐĞƚƐϲ͕Ϭϱϴ

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Appendix A – 2023 Audited Financial Statements

WWW.WORLDATHLETICS.ORGdƌĂĚĞ ƌĞĐĞŝǀĂďůĞƐ ĂŶĚ ŽƚŚĞƌ ƌĞĐĞŝǀĂďůĞƐ ƚŚĂƚ ĂƌĞ ŶŽƚ ǇĞƚ ĚƵĞ ĂƌĞ ŶŽƚ ĐŽŶƐŝĚĞƌĞĚ ŝŵƉĂŝƌĞĚ͘ dŚĞ ŵĂŝŶƌĞĂƐŽŶƐĨŽƌƚŚĞŝŶĐƌĞĂƐĞŽŶdƌĂĚĞƌĞĐĞŝǀĂďůĞŝƐĐŽŵŝŶŐĨƌŽŵƌĞĐĞŝǀĂďůĞƐŐĞŶĞƌĂƚĞĚďǇƚŚĞ/h͘DŽƐƚŽĨƚŚĞƐĞƌĞĐĞŝǀĂďůĞƐŚĂǀĞďĞĞŶƐƵďƐĞƋƵĞŶƚůǇĐŽůůĞĐƚĞĚ͘dŚĞ ƌĞĂƐŽŶŽĨƚŚĞ ĚĞĐƌĞĂƐĞŝŶŽƚŚĞƌƌĞĐĞŝǀĂďůĞƐ ĂƚƚŚĞ ĞŶĚŽĨ ϮϬϮϯŝƐŽŶĂĐĐŽƵŶƚ ŽĨ ĂƌĞĐĞŝǀĂďůĞĨƌŽŵĞŶƚƐƵĨŽƌƚŚĞƉƌŽĨŝƚƐŚĂƌĞƉĂǇĂďůĞĨŽƌϮϬϮϮͲϮϬϮϯƚŚĂƚǁĂƐƌĞĐĞŝǀĞĚŝŶĂĚǀĂŶĐĞŝŶϮϬϮϮ͘͘
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WORLD ATHLETICS ANNUAL REPORT AND ACCOUNTS 2023

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ϯϮ͕ϳϴϮϰϲ͕ϬϱϭƐ ŽĨ ϯϭ ĞĐĞŵďĞƌ ϮϬϮϯ͕ ƚŚŝƐ ŝƚĞŵ ĐŽŵƉƌŝƐĞĚ ĐĂƐŚ Ăƚ ďĂŶŬ ŽĨ h^ΨϯϮ͕ϳϴϮŬ͘ dŚĞƌĞ ĂƌĞ ŶŽ ƐŚŽƌƚͲƚĞƌŵŝŶǀĞƐƚŵĞŶƚƐ͘ϭϯ͘Yh/dzdŚĞĐŚĂŶŐĞŝŶĞƋƵŝƚǇĨƌŽŵϮϬϮϮƚŽϮϬϮϯŝƐŽŶĂĐĐŽƵŶƚŽĨůŽƐƐĚƵƌŝŶŐƚŚĞǇĞĂƌŽĨh^Ψϭϲ͕ϳϳϰŬ͘ϭϰ͘

WK^dͲDW>KzDEdE&/dE^/D/>ZK>/'d/KE^ŝŶŬh^ĂůĂŶĐĞĂƐĂƚϯϭĞĐĞŵďĞƌϮϬϮϮϱϵϱKƉĞƌĂƚŝŶŐĐŽƐƚƐϰϬ&ŝŶĂŶĐŝĂůĞǆƉĞŶƐĞϮϮKƚŚĞƌĐŽŵƉƌĞŚĞŶƐŝǀĞĞǆƉĞŶƐĞͲϮϮĂůĂŶĐĞĂƐĂƚϯϭĞĐĞŵďĞƌϮϬϮϯϲϯϱdŚĞ ƉĞŶƐŝŽŶ ŽďůŝŐĂƚŝŽŶ ŝƐ ƵŶĨƵŶĚĞĚ ĂŶĚ ƚŚĞƌĞĨŽƌĞ͕ ŶŽ ƉĞŶƐŝŽŶ ĂƐƐĞƚƐ ĂƌĞ ŚĞůĚ ďǇ tŽƌůĚ ƚŚůĞƚŝĐƐ͘&ƵƌƚŚĞƌŵŽƌĞ͕ƚŚĞĐŚĂŶŐĞƐŽĨƚŚĞƐŝŐŶŝĨŝĐĂŶƚĂĐƚƵĂƌŝĂůĂƐƐƵŵƉƚŝŽŶƐǁĞƌĞĐŽŶƐŝĚĞƌĞĚĂƐŶŽƚƐŝŐŶŝĨŝĐĂŶƚŝŶƚŚĞĐŽŶƚĞǆƚŽĨƚŚĞĐŽŶƐŽůŝĚĂƚĞĚĨŝŶĂŶĐŝĂůƐƚĂƚĞŵĞŶƚƐ͘dŚĞƐŝŐŶŝĨŝĐĂŶƚĂĐƚƵĂƌŝĂůĂƐƐƵŵƉƚŝŽŶƐǁĞƌĞĂƐĨŽůůŽǁƐ͗ͲƐƐƵŵƉƚŝŽŶƐƌĞŐĂƌĚŝŶŐĨƵƚƵƌĞŵŽƌƚĂůŝƚǇĂƌĞƐĞƚďĂƐĞĚŽŶĂĐƚƵĂƌŝĂůĂĚǀŝĐĞŝŶĂĐĐŽƌĚĂŶĐĞǁŝƚŚƉƵďůŝƐŚĞĚƐƚĂƚŝƐƚŝĐƐĂŶĚĞǆƉĞƌŝĞŶĐĞŝŶƚŚĞƌĞŐŝŽŶ;/E^ϮϬϭϱͲϮϬϭϳŵŽƌƚĂůŝƚǇƚĂďůĞͿ͘dŚĞƐĞĂƐƐƵŵƉƚŝŽŶƐƚƌĂŶƐůĂƚĞŝŶƚŽĂŶ ĂǀĞƌĂŐĞ ůŝĨĞ ĞǆƉĞĐƚĂŶĐǇ ŝŶ ǇĞĂƌƐ ĨŽƌ Ă ƉĞŶƐŝŽŶĞƌ ƌĞƚŝƌŝŶŐ ƚŚĞ ĂŐĞƐ ŽĨ ϲϮ ĨŽƌ ĞŵƉůŽǇĞĞƐ͕ ĂŶĚ ϲϯ ĨŽƌŵĂŶĂŐĞŵĞŶƚ͘ͲWƌŽďĂďŝůŝƚǇŽĨĚĞƉĂƌƚƵƌĞďĞĨŽƌĞƌĞƚŝƌĞŵĞŶƚĂŐĞĨŽƌĐƵƌƌĞŶƚĞŵƉůŽǇĞĞƐ͘

tKZ>d,>d/^&/EE/>ZWKZdͮƉ͘ϯϱ70
Ͳ &ŝŶĂŶĐŝĂů ĚŝƐĐŽƵŶƚ ƌĂƚĞ ŽĨ ϯ͘ϱϯй ĂŶĚ ƐĂůĂƌǇ ŝŶĐƌĞĂƐĞ ƌĂƚĞ ŽĨ ϲй ĨŽƌ ƚŚĞ ƉĞŶƐŝŽŶ ŽďůŝŐĂƚŝŽŶ ĂƐ ŽĨ ϯϭĞĐĞŵďĞƌϮϬϮϯϭϱ͘

&/EE/>>//>/d/^hZZEdEEKEhZZEdŝŶŬh^

ϮϬϮϯ

ϮϬϮϮ

ƵƌƌĞŶƚĨŝŶĂŶĐŝĂůůŝĂďŝůŝƚŝĞƐ

ϯϮϮ

ϮϯϮ

EŽŶͲĐƵƌƌĞŶƚĨŝŶĂŶĐŝĂůůŝĂďŝůŝƚŝĞƐϮ͕ϱϮϭ

Ϯ͕Ϯϵϰ

dŽƚĂůůĞĂƐĞůŝĂďŝůŝƚŝĞƐϮ͕ϴϰϯ

Ϯ͕ϱϮϱ

dŚĞĨŝŶĂŶĐŝĂůůŝĂďŝůŝƚŝĞƐďĂůĂŶĐĞĂƐƐŚŽǁŶĂďŽǀĞŝƐĐŽŵƉƌŝƐĞĚŽĨůĞĂƐĞůŝĂďŝůŝƚŝĞƐƵŶĚĞƌ/&Z^ϭϲ͕ŝŶĐůƵĚŝŶŐƚŚĞŶĞǁůĞĂƐĞůŝĂďŝůŝƚǇŽĨh^ΨϲϬϱŬ͘KĨƚŚĞƚŽƚĂůƉĂǇĂďůĞŽĨh^ΨϮ͕ϴϰϯŬ͕ƚŚĞĂŵŽƵŶƚĚƵĞŝŶƚŚĞŶĞǆƚϭϮŵŽŶƚŚƐŝƐh^ΨϯϮϮŬ͕ĂŵŽƵŶƚĚƵĞďĞƚǁĞĞŶϭĂŶĚϱǇĞĂƌƐŝƐh^Ψϭ͕ϱϰϬŬĂŶĚƚŚĞĂŵŽƵŶƚĚƵĞŝŶŵŽƌĞƚŚĂŶϱǇĞĂƌƐŝƐh^ΨϵϴϭŬ͘ϭϲ͘

Appendix A – 2023 Audited Financial Statements

WWW.WORLDATHLETICS.ORG

dZWz>^ŝŶh^

ϮϬϮϯ

ϮϬϮϮ

dƌĂĚĞƉĂǇĂďůĞƐϳ͕ϭϳϮ

ϯ͕ϵϯϵ

dƌĂĚĞƉĂǇĂďůĞƐϳ͕ϭϳϮ

ϯ͕ϵϯϵ

dƌĂĚĞ WĂǇĂďůĞƐ ŝŶĐůƵĚĞ ĚƵĞƐ ĨŽƌ ƌĞŐƵůĂƌ ŽƉĞƌĂƚŝŶŐ ĞǆƉĞŶƐĞƐ ŝŶĐƵƌƌĞĚ ďǇ ƚŚĞ ƐƐŽĐŝĂƚŝŽŶ͘ dŚŝƐ ĂŵŽƵŶƚƉƌŝŵĂƌŝůǇƉĞƌƚĂŝŶƐƚŽĞǆƉĞŶƐĞƐĨŽƌϮϬϮϯƚŚĂƚǁĞƌĞƉĂŝĚĂĨƚĞƌƚŚĞĐƵƚͲŽĨĨĚĂƚĞŽĨϯϭĞĐĞŵďĞƌϮϬϮϯ͘dŚŝƐůŝŶĞĂůƐŽŝŶĐůƵĚĞƐƉĞƌĨŽƌŵĂŶĐĞďŽŶĚĂŵŽƵŶƚƐƌĞĐĞŝǀĞĚĨƌŽŵŽƵƌĨƵƚƵƌĞt^ĞǀĞŶƚŚŽƐƚƐ͘ϭϳ͘

Kd,ZWz>^ΘZhyWE^^
ϮϬϮϯ

ϮϬϮϮ

ϴϬ

ϭϬϴ

KƚŚĞƌƉĂǇĂďůĞƐϲ͕ϳϮϭ

ϳ͕ϮϬϯ

ĐĐƌƵĞĚĞǆƉĞŶƐĞƐϭ͕ϮϮϲ

ϭ͕ϭϳϵ

KƚŚĞƌƉĂǇĂďůĞƐΘĂĐĐƌƵĞĚĞǆƉĞŶƐĞƐϴ͕ϬϮϲ

ϴ͕ϰϴϵ

ŝŶŬh^WĂǇĂďůĞƚŽĚŝƌĞĐƚŽƌƐKƚŚĞƌƉĂǇĂďůĞƐĂƐŽĨϯϭĞĐĞŵďĞƌϮϬϮϯĂƌĞƉƌŝŵĂƌŝůǇŵĂĚĞƵƉŽĨĞǆƉĞŶĚŝƚƵƌĞĂƌŽƵŶĚ'ƌĂŶƚƐĚƵĞƚŽƌĞĂƐƐŽĐŝĂƚŝŽŶƐĂŶĚDĞŵďĞƌ&ĞĚĞƌĂƚŝŽŶƐƚŚĂƚŚĂǀĞŶŽƚďĞĞŶƉĂŝĚǇĞƚ͕ƉƌŝǌĞŵŽŶĞǇƉĂǇŵĞŶƚƐĚƵĞĨŽƌϮϬϮϯĞǀĞŶƚƐ͕ĂŶĚŝĚŐƵĂƌĂŶƚĞĞƐƌĞĐĞŝǀĞĚĨƌŽŵŚŽƐƚƐŽĨŽƵƌĨƵƚƵƌĞtŽƌůĚƚŚůĞƚŝĐ^ĞƌŝĞƐĞǀĞŶƚƐ͘ůůŽĨƚŚĞƐĞĞǆƉĞŶƐĞƐǁŝůůďĞƐĞƚƚůĞĚĚƵƌŝŶŐϮϬϮϰ͘ĐĐƌƵĞĚĞǆƉĞŶƐĞƐĂƐŽĨϯϭĞĐĞŵďĞƌϮϬϮϯŝŶĐůƵĚĞĂŵŽƵŶƚƐĚƵĞĨŽƌƵŶƉĂŝĚǀĂĐĂƚŝŽŶĨŽƌƐƚĂĨĨĂŶĚƌĞůĂƚĞĚƐŽĐŝĂůĐŽŶƚƌŝďƵƚŝŽŶƐ͘EŽŵĂũŽƌǀĂƌŝĂŶĐĞĐŽŵƉĂƌĞĚƚŽϮϬϮϮ͘

tKZ>d,>d/^&/EE/>ZWKZdͮƉ͘ϯϲ

71

WORLD ATHLETICS ANNUAL REPORT AND ACCOUNTS 2023

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

ϭϴ͘

&ZZ/EKDŝŶŬh^

ϮϬϮϯ

ϮϬϮϮ

ƵƌƌĞŶƚĚĞĨĞƌƌĞĚŝŶĐŽŵĞϭϱϬϮ͕ϯϳϬ

EŽŶͲĐƵƌƌĞŶƚĚĞĨĞƌƌĞĚŝŶĐŽŵĞ

ϮϱϬ

ϮϱϬ

ĞĨĞƌƌĞĚŝŶĐŽŵĞϰϬϬϮ͕ϲϮϬ

ƵƌƌĞŶƚĚĞĨĞƌƌĞĚŝŶĐŽŵĞǀĂƌŝĂƚŝŽŶŝƐŵĂŝŶůǇƌĞůĂƚĞĚƚŽh^Ψϭ͕ϳϬϱŬĨƌŽŵƚĞůĞǀŝƐŝŽŶƌŝŐŚƚƐĂŶĚƐƉŽŶƐŽƌƐŚŝƉƐĐŽŶƚƌĂĐƚƐ ĂŶĚh^ΨϲϳϬŬ ƌĞůĂƚĞĚ ƚŽ ƉĞƌĨŽƌŵĂŶĐĞ ďŽŶĚƐ ĨŽƌ ĨƵƚƵƌĞ tŽƌůĚ ƚŚůĞƚŝĐƐ ĞǀĞŶƚƐ ǁŚŝĐŚ ǁĞƌĞƌĞĐĞŝǀĞĚŝŶĞĂƌůŝĞƌǇĞĂƌƐĂŶĚĂĚũƵƐƚĞĚĂŐĂŝŶƐƚƚŚĞĞǀĞŶƚŝŶϮϬϮϯ͘EŽŶͲĐƵƌƌĞŶƚĚĞĨĞƌƌĞĚŝŶĐŽŵĞĐŽŶƐŝƐƚƐŽĨh^ΨϮϱϬŬƌĞĐĞŝǀĞĚĂƐĂĚǀĂŶĐĞƉĂǇŵĞŶƚƐĂŐĂŝŶƐƚĞǀĞŶƚƐƚŚĂƚǁŝůůďĞŚĞůĚŝŶĨƵƚƵƌĞǇĞĂƌƐ͘

tKZ>d,>d/^&/EE/>ZWKZdͮƉ͘ϯϳ72



Kd,Z/^>K^hZ^ϭϵ͘&/EE/>Z/^<DE'DEddŚĞĚŝĨĨĞƌĞŶƚƚǇƉĞƐŽĨĨŝŶĂŶĐŝĂůƌŝƐŬƐĂŶĚƚŚĞŝƌŝŵƉĂĐƚƐĂƌĞĚĞƚĂŝůĞĚŝŶŶŽƚĞ>ŽĨƚŚŝƐĚŽĐƵŵĞŶƚ͘ϮϬ͘KDD/dDEd^'/sEEKEd/E'Ed>//>/d/^EK&&Ͳ>E^,dsEd^ŽŶƐĞƋƵĞŶƚ ƚŽ Ă ůŽĂŶ ĂŐƌĞĞŵĞŶƚ ƐŝŐŶĞĚ ǁŝƚŚ ŝĂŵŽŶĚ >ĞĂŐƵĞ AG (“DLAG”) ŝŶ KĐƚŽďĞƌ ϮϬϮϭ͕ tŽƌůĚƚŚůĞƚŝĐƐĂŐƌĞĞĚƚŽƉƌŽǀŝĚĞ>'ǁŝƚŚĂůŽĂŶŽĨh^ΨϮŵƉĂǇĂďůĞŝŶƚǁŽŝŶƐƚĂůŵĞŶƚƐĂƐŽĨϯϭDĂƌĐŚϮϬϮϯĂŶĚϯϭDĂƌĐŚϮϬϮϰ͘dŚĞůŽĂŶǁŝůůďĞĨƵůůǇƌĞŝŵďƵƌƐĞĚƚŽtŽƌůĚƚŚůĞƚŝĐƐďǇƚŚĞĞŶĚŽĨ:ƵŶĞϮϬϮϱ͘dŚĞĨŝƌƐƚŝŶƐƚĂůŵĞŶƚ ŽĨ ƚŚŝƐ ůŽĂŶ ǁĂƐ ƉĂŝĚ ĚƵƌŝŶŐ DĂƌĐŚ ϮϬϮϯ͘ KƚŚĞƌ ƚŚĂŶ ƚŚŝƐ͕ ƚŚĞƌĞ ĂƌĞ ŶŽ ĐŽŵŵŝƚŵĞŶƚƐ͕ĐŽŶƚŝŶŐĞŶƚůŝĂďŝůŝƚŝĞƐĂŶĚŽĨĨͲďĂůĂŶĐĞƐŚĞĞƚĞǀĞŶƚƐƚŚĂƚŵĂŶĂŐĞŵĞŶƚŝƐĂǁĂƌĞŽĨĂŶĚŶĞĞĚƚŽďĞĚŝƐĐůŽƐĞĚƐĞƉĂƌĂƚĞůǇ͘Ϯϭ͘

Appendix A – 2023 Audited Financial Statements

WWW.WORLDATHLETICS.ORG

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WORLD ATHLETICS ANNUAL REPORT AND ACCOUNTS 2023

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AP P E NDIX B – WO R L D AT H L ET I CS 2 0 23
RE MU NE RAT I O N PO L I CY
World Athletics Position

Remuneration and Expenses

Executive Board

USD 22,500 per annum(base fee for all members including

Per diem of USD 150 per day

President and Vice-Presidents)

Travel, meals and accommodation covered

Chair of EB Committee (supplementary fee) Honoraria of USD 5,000 per annum
President

USD 250,000 per annum updated with inflation impacts consistent with WA HQ staff(plus EB base fee above)

Council

Administration allowance of USD 6,000 per annum (except for Area Presidents(all members, including Executive Board

where the allowance is USD 3,000 due to the additional allowance provided to Area

members)

Presidents)) plus honorarium of USD 7,500 (for all members including Area Presidents)
Honoraria USD 2,500 per annum for members chairing of Commissions and working
groups/taskforces of more than one-year duration
Honoraria USD 2,500 for members filling major technical appointment roles
Per diem of USD 150 per day for in-person official WA businessTravel, meals and accommodation provided by World Athletics when travelling on

Appendix B – World Athletics 2023 Remuneration Policy

WWW.WORLDATHLETICS.ORG

official WA business (travel based on business class airfare plus per diem of USD 150
for each day (12 hours) of travel)
Council (Area Presidents)

Allowance of USD 3,000 per annum and:• USD 12,000 per annum (if lives in the same city as Area headquarters)• USD 18,000 per annum (if does not live in the same city as Area headquarters)
Per diem of USD 150 per day
Travel, meals and accommodation covered

Commissions

Honoraria of USD 5,000 per annum for Chairs if they are not Council Members and(members other than Council Members)

USD 2,500 per annum if they are Council Members
Per diem of USD 150 per day for in-person meetings
Travel, meals and accommodation covered

Working Groups and Panels

Per diem of USD 150 per day for in-person meetings(members other than Council Members)

Travel, meals and accommodation covered

Athletics Integrity Unit (AIU) Board

USD 15,000 per annum

members (independent members andPer diem of USD 150 per day for in-person meetings

supplementary fee for Council Member)

Travel, meals and accommodation coveredAIU Board Chair

USD 35,000 per annum plus per diem for in-person meetings

Vetting Panel members

USD 17,500 per annum
Per diem of USD 150 per day for in-person meetings
Travel, meals and accommodation covered

Vetting Panel Chair

USD 35,000 per annum
Per diem of USD 150 per day for in-person meetings
Travel, meals and accommodation covered

Disciplinary & Appeals Tribunal members

Fixed rate for each case, plus associated expenses

Disciplinary & Appeals Tribunal Chair

USD 33,000 annual retainer

This policy was approved by the Executive Board in March 2023 and effective from the conclusion of the 2023 Election
Congress. The Remuneration Policy for the previous quadrennial can be found in the 2022 Annual Council Report.
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