Many thanks for the reply. After some trial and error it turns out <img src="_${companyInformation.logoURL}" />_ was wrapped in <#escape x as x?html> </#escape>. Not certain how long that's been there ... it might have been used to solve a different issue but all was working up until the 2021.1 upgrade. Referencing just img src (and removing the escape portion) solved the issue ... the logo is back!