Clara Péron, Founder and Managing Director

Dear reader,

It is our pleasure to present you our Annual Report for 2017 - the third since Value for Good (VfG) was founded December 4, 2014. This year was truly exceptional: we developed major new client relationships, strengthened our team with outstanding talent and expanded our network of strategic partners. We are now a strong VfG community with a brand that keeps on getting more traction.

This report offers key insights into VfG’s business development, shows how talent has been critical to our success and presents how we have contributed to the environment and community. We are privileged to have you take part in our journey and look forward to 2018!

Sincerely,

2017ANNUAL REPORT

2

Attracted significantly more talent

It was a successful 2017

Grew our team and partner network

3

Achieved significantbusiness growth

2015 2016 2017

78% more revenue secured in 2017

8 9

15

2015 2016 2017Consultants engaged in projects

2876

247

2015 2016 2017

325% more applicants for VfGvacancies in 2017

Served clients with major societal impact

84% Global impact11% Multinational impact

5% Local impact

+78%

as percentage of revenue in 2017

“Thanks to Value for Good, we were able to develop core

elements of our partnership strategy and could explore

innovative financing models.”

Programme Manager at German foundation

“Value for Good is a reliable and professional partner, who truly

understands the DNA of our organisation.”

Director at UN organisation

Attained high clientsatisfaction

+325%

• Quantifying and monetising both outputs and outcomes is key to securing (continued) investment

• After strategic changes in impact oriented organisations, early remapping of operating procedures is key for buy-in and enabling teams to quickly deliver results

• Return on the brand is a key indicator to ensure relevance of sustainability investments to corporate leadership

• Having board members as project sponsors is critical for the successful development and implementation of a sustainability strategy

• A significant opportunity exists for companies to cooperate with national development organisations and banks to grow in developing markets

• Leveraging strategic intersectionsand working nimbly within existing processes is crucial for partnerships to thrive

SUSTAINABILITY CONSULTING

SOCIAL IMPACT CONSULTING

PARTNERSHIP ADVISORY SERVICES

Across our services, we learned with our clients Revenue share per service since 2015

55%

25%

20%

4

We let our essential values guide us

We aim to be the preferred specialised management consulting company to help clients effectively solve pressing societal issues and contribute to positive impact

Authenticity in our way of

being

Quality in all our work

Building relationships

of trust

Respect & appreciation

Learning continuously

Simplicity in execution

quality education

zero hunger

impact investing

environmental footprint

sustainability

leadershiprefugees

women’s empowerment

health

social entrepreneurship

coffee industry

disadvantaged children

consumer goods

public private partnerships

textile industryfinancial inclusion

banks

demographic change

disabilities

early childhood development

mobility

cross sector partnerships

pro-bono market

smallholder farmers

urbanisation

digitalisation

clean water

mindset shift

social service innovation

insurance sector

migration

5

Areas of engagement to date

Conducting impact assessment4

How can my organisation deliver its sustainability goals?

How do I create and measure the social impact of my work?

We supported our clients holistically and flexibly

How do I maximise my impact through partnerships?

Strategy definition

With VfG own resources

With VfGexpert

network

With institutional VfG partners

Strategy framework

Business case analysis Benchmarking

1

Enabling client execution

Organisational alignment & governance

Org structure, roles & responsibilities, KPIs, process mapping &

optimisation, training

Project managementProject and budget

planning & monitoring, staffing, stakeholder

engagement, meeting facilitation

2 Establishing impact measurement & evaluation framework

3

Theory of change

Measurement indicatorsMeasurement & evaluation plan

Impact value chain

6

Feedback loops & dynamic

sequencing

We worked with clients across sectors

57%17%

26%

• In progress of monitoring the impact over six years of an NGO’s mentoring programmeusing a customised control and treatment group methodology

% of revenues

since 2015

• Scoped the social missions of selected brands for a multinational consumer goods company

7

A selection of our client engagements in 2017, broken down by sector

• Facilitated an intensive three-month strategyredesign process and developed implemen-tation tools for the leadership of an international corporate forum

• Helped sharpen the impact “blueprint” for the portfolio of social investment activities of a global insurance company

• Developed the public-private partnership strategy for a major German foundation to develop migrants’ skills and achieve a win-win situation both at home and abroad

• Began a major project to enhance the partnership model of a cooperation involving more than €2B worth in projects

• Developed and mapped new standard operating procedures for all programmatic and financial activities of a UN office in Sub-Saharan Africa leading to significant organisationalalignment and process streamlining

• Involved approx. 200 stakeholders in monetisingthe impact of a project to strengthen humanitarian supply chains and demonstrated a potential ROI of more than €4 on every €1 invested

• Conducted the mid-term evaluation of an international technology partnership for development, involved 80+ stakeholders, and defined strategic areas for improvement

We served clients around the globe

201720162015

8

Countries where VfG consultants delivered project work

Nuturing our talent was key to our success

A passionate andprofessional team

Fostering our people-oriented culture

• 3 team retreats in 2017 in Austria and Germany

• Sessions with business coach on employee development

• 3 professional skills trainings• 3rd birthday celebration in a

castle near Berlin

Developing links totop talent

• Continued VfG Associate Programme with Harvard Kennedy School

• talent@valueforgood.com with growing talent database

• Engaged with top talent at SensAbility 2017

Upholding our principles

• Strengths-based monthly feedback sessions for talent

• Humane consulting with reasonable working hours

• Flexible work arrangements

• Access to networking events

Including the team in building VfG

• Business divisions led and shaped by team members

• Strategy and goals development in team retreat

• Financial revenue and salary transparency with the team

9

We grew our team with new talent

10

Rayd Abu-AyyashStrategic Partner

• Freelance consultant on strategy & corporate governance

• Business Analyst, McKinsey&Co

• Head of Strategy & Corporate Comms., Capital Bank of Jordan

• Senior Consultant, Arup, London

• MSc, City Design & Social Science, LSE

• BA, Harvard University

I joined VfG, because it allows me to combine strategy consulting for good with flexible work arrangements

Alena KlatteAssociate

• Associate Consultant Intern, Bain & Company, Munich

• Intern Beyond Philanthropy

• MSc & CEMS Master, International Business and Management, SSE Stockholm & HEC Paris

• BSc, International Business, Maastricht University

At VfG I can follow my passion for understanding how organisationscan address societal problems

Alexandra EnkeAssociate

• Visiting Associate, Boston Consulting Group, Düsseldorf

• National Board, AIESEC Germany & Egypt, Bonn & Cairo

• JIMD Master, Sustainable Development, Graz University, Ca’Foscari University, TERI University New Delhi

• BSc, Economics & Business Science, Leipzig University

I strive to create positive societal impact with a like-minded team, VfGenables me to do that and encourages my development

Florian OstmannVisiting Associate

• Consultant, Pan American Health Organization, Washington

• Master Public Policy, Harvard University

• PhD Philosophy, University College London

• MA, Legal & Political Theory, University College London

• BA, Humboldt University Berlin

VfG’s unique profile gave me the opportunity to gain consulting experience across the different sectors I am passionate about

Pro-bono work

• We conducted a partnership analysis for a renowned international NGO to help them maximise impact in collaborating with companies

• In 2017, we facilitated 3 impact measurement workshops for two NGOs who act as multipliers of impact

We enjoyed contributing to our society

Volunteering

• Team members get one day per month to volunteer during working hours as paid leave

• VfG team volunteered as:• Educator of an university

lecture series• Board member of an NGO• Trainer for a sports club• Food sorter at a food bank

Environmental awareness

• Our office materials are purchased from sustainable sources

• When in Berlin, we aim to either walk, bike or use public transportation

• We travel by train for meetings within Germany

• 100% of our client-related flights have contributed to carbon offset projects

11

227 974 km travelled

65 475 kg CO₂ produced

1 506 EUR invested

Ensured 1 ongoing pro-bono project

Introduced company policy of opportunity to volunteer 1 day per month as paid leave

Established standard to offset 100% of client-related flights

Conducted 1 pro-bono project and 3 pro-bono trainings

Delivered 16 days of volunteering by team members

100% carbon offset of all flights

• Measure monetary value of VfG pro-bono services

• Expand employee volunteering

• Continue 100% carbon offset of flights

2 new core team members and 1 Harvard summer intern

Established talent development and incentive framework

Established 1 team retreat per quarter

Established VfG breakfast series

3 new core team members and 1 Harvard summer intern

Provided teams members 3 skill training opportunities

Delivered 3 team retreats and the VfG3rd birthday team event

Organized 3 VfG breakfasts

• Ensure 2 trainings per team member

• Deliver 4 VfG retreats and 6 breakfasts

• Measure team development and satisfaction

Established 7 new client relationships

Produced VfG publication on empowering women through business

Moderated 20 days of workshops involving >400 participants

Secured 78% increase in consulting revenue compared to 2016

Launched case study series via facebook and LinkedIn

Moderated 28 days of workshops involving >280 participants

• Increase consulting revenue by 50%

• Deepen existing client relationships

• Expand our network of experts

2016 Results 2018 Goals

Business

Society

Talent

2017 Results

We look forward to 2018

12

And we hope you will be part of our journey

• Benefit from tailored, high quality sustainability consulting, partnership advisoryand social impact consulting services

• Refer us to other potential clients who could benefit from our services

• Collaborate in joint client engagements

• Become a long-term strategic partner

• Be part of our informal thought leadership network

• Partner with us in conferences or workshops

• Apply for our pro-bono consulting services for your charity, e.g. for• ½ day strategy

session• ½ day impact

measurement training

• Join our team as a working student,associate or project leader

• Collaborate as afreelance expert or advisor on projects

• Share professional insights in the VfGbreakfast series

Business partnerClient Pro-bono

partner Talent

13

And we hope you will be part of our journey

• Benefit from oursustainability consulting, partnership advisoryand social impact consulting services

• Collaborate in joint-client engagements

• Become a long-term strategic partner

• Be part of our informal thought leadership network

• Partner with us in conferences or workshops

• Provide professional services

• Apply for our pro-bono consulting services for your charity

• Utilize our volunteering engagements in your societal initiatives

• Work with us as a co-worker or freelancerin our diverse projects

• Connect people in your network with us

Business partner

Pro-bonopartnerClient Team

member

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© 2017 Value for Good GmbHKarlplatz 7

10117 Berlin, Germanywww.valueforgood.com

HRB 157107 B Amtsgericht CharlottenburgGeschäftsführerin Clara Péron