Category: Economy

MIL-OSI: YieldMax® ETFs Announces Distributions on HOOY, CONY, ULTY, AMDY, YMAG, and Others

Source: GlobeNewswire (MIL-OSI)

CHICAGO and MILWAUKEE and NEW YORK, July 23, 2025 (GLOBE NEWSWIRE) — YieldMax® today announced distributions for the YieldMax® Weekly Payers and Group C ETFs listed in the table below.

ETF Ticker¹	ETF Name	Distribution Frequency	Distribution per Share		Distribution Rate^2,⁴	30-Day SEC Yield³	ROC⁵	Ex-Date & Record Date	Payment Date
CHPY	YieldMax® Semiconductor Portfolio Option Income ETF	*Weekly*	$0.3723		35.54%	0.04%	100.00%	7/24/25	7/25/25
GPTY	YieldMax® AI & Tech Portfolio Option Income ETF	*Weekly*	$0.3219		35.36%	0.00%	100.00%	7/24/25	7/25/25
LFGY	YieldMax® Crypto Industry & Tech Portfolio Option Income ETF	*Weekly*	$0.4876		62.94%	0.00%	100.00%	7/24/25	7/25/25
QDTY	YieldMax® Nasdaq 100 0DTE Covered Call ETF	*Weekly*	$0.1944		22.64%	0.00%	86.12%	7/24/25	7/25/25
RDTY	YieldMax® R2000 0DTE Covered Call ETF	*Weekly*	$0.3901		44.01%	1.65%	100.00%	7/24/25	7/25/25
SDTY	YieldMax® S&P 500 0DTE Covered Call ETF	*Weekly*	$0.1607		18.44%	0.07%	42.60%	7/24/25	7/25/25
ULTY	YieldMax® Ultra Option Income Strategy ETF	*Weekly*	$0.1029		85.29%	0.00%	100.00%	7/24/25	7/25/25
YMAG	YieldMax® Magnificent 7 Fund of Option Income ETFs	*Weekly*	$0.2033		68.60%	63.17%	42.42%	7/24/25	7/25/25
YMAX	YieldMax® Universe Fund of Option Income ETFs	*Weekly*	$0.1838		68.48%	82.40%	6.23%	7/24/25	7/25/25
ABNY	YieldMax® ABNB Option Income Strategy ETF	Every 4 weeks	$0.3748		40.32%	2.85%	0.00%	7/24/25	7/25/25
AMDY	YieldMax® AMD Option Income Strategy ETF	Every 4 weeks	$0.5656		85.13%	2.82%	0.00%	7/24/25	7/25/25
CONY	YieldMax® COIN Option Income Strategy ETF	Every 4 weeks	$0.7951		103.37%	2.93%	0.00%	7/24/25	7/25/25
CVNY	YieldMax® CVNA Option Income Strategy ETF	Every 4 weeks	$2.0473		61.43%	2.71%	97.34%	7/24/25	7/25/25
DRAY*	YieldMax® DKNG Option Income Strategy ETF	Every 4 weeks		–	–	–	–	–	–
FIAT	YieldMax® Short COIN Option Income Strategy ETF	Every 4 weeks	$0.1381		60.28%	4.73%	93.10%	7/24/25	7/25/25
HOOY	YieldMax® HOOD Option Income Strategy ETF	Every 4 weeks	$6.8981		121.23%	1.43%	100.00%	7/24/25	7/25/25
MSFO	YieldMax® MSFT Option Income Strategy ETF	Every 4 weeks	$0.4139		29.80%	2.97%	0.00%	7/24/25	7/25/25
NFLY	YieldMax® NFLX Option Income Strategy ETF	Every 4 weeks	$0.4350		32.40%	2.80%	0.00%	7/24/25	7/25/25
PYPY	YieldMax® PYPL Option Income Strategy ETF	Every 4 weeks	$0.2731		27.61%	3.48%	0.00%	7/24/25	7/25/25
Weekly Payers & Group D ETFs scheduled for next week: CHPY GPTY LFGY QDTY RDTY SDTY ULTY YMAG YMAX AIYY AMZY APLY DISO MSTY SMCY WNTR XYZY YQQQ

Standardized Performance and Fund details can be obtained by clicking the ETF Ticker in the table above or by visiting us at www.yieldmaxetfs.com

Performance data quoted represents past performance and is no guarantee of future results. Investment return and principal value of an investment will fluctuate so that an investor’s shares, when sold or redeemed, may be worth more or less than their original cost and current performance may be lower or higher than the performance quoted above. Performance current to the most recent month-end can be obtained by calling (866) 864 3968.

Note: DIPS, FIAT, CRSH, YQQQ and WNTR are hereinafter referred to as the “Short ETFs.”

Distributions are not guaranteed. The Distribution Rate and 30-Day SEC Yield are not indicative of future distributions, if any, on the ETFs. In particular, future distributions on any ETF may differ significantly from its Distribution Rate or 30-Day SEC Yield. You are not guaranteed a distribution under the ETFs. Distributions for the ETFs (if any) are variable and may vary significantly from period to period and may be zero. Accordingly, the Distribution Rate and 30-Day SEC Yield will change over time, and such change may be significant.

Investors in the Funds will not have rights to receive dividends or other distributions with respect to the underlying reference asset(s).

*The inception date for DRAY is July 14, 2025

¹All YieldMax® ETFs shown in the table above (except YMAX, YMAG, FEAT, FIVY and ULTY) have a gross expense ratio of 0.99%. YMAX, FEAT have a Management Fee of 0.29% and Acquired Fund Fees and Expenses of 0.99% for a gross expense ratio of 1.28%. YMAG has a management fee of 0.29% and Acquired Fund Fees and Expenses of 0.83% for a gross expense ratio of 1.12%. FIVY has a Management Fee of 0.29% and Acquired Fund Fees and Expenses of 0.59% for a gross expense ratio of 0.88%. “Acquired Fund Fees and Expenses” are indirect fees and expenses that the Fund incurs from investing in the shares of other investment companies, namely other YieldMax® ETFs. ULTY has a gross expense ratio of 1.40%, and a net expense ratio after the fee waiver of 1.30%. The Advisor has agreed to a fee waiver of 0.10% through at least February 28, 2026.

²The Distribution Rate shown is as of close on July 22, 2025. The Distribution Rate is the annual distribution rate an investor would receive if the most recent distribution, which includes option income, remained the same going forward. The Distribution Rate is calculated by annualizing an ETF’s Distribution per Share and dividing such annualized amount by the ETF’s most recent NAV. The Distribution Rate represents a single distribution from the ETF and does not represent its total return. Distributions may also include a combination of ordinary dividends, capital gain, and return of investor capital, which may decrease an ETF’s NAV and trading price over time. As a result, an investor may suffer significant losses to their investment. These Distribution Rates may be caused by unusually favorable market conditions and may not be sustainable. Such conditions may not continue to exist and there should be no expectation that this performance may be repeated in the future.

³ The 30-Day SEC Yield represents net investment income, which excludes option income, earned by such ETF over the 30-Day period ended June 30, 2025, expressed as an annual percentage rate based on such ETF’s share price at the end of the 30-Day period.

⁴ Each ETF’s strategy (except those of the Short ETFs) will cap potential gains if its reference asset’s shares increase in value, yet subjects an investor to all potential losses if the reference asset’s shares decrease in value. Such potential losses may not be offset by income received by the ETF. Each Short ETF’s strategy will cap potential gains if its reference asset decreases in value, yet subjects an investor to all potential losses if the reference asset increases in value. Such potential losses may not be offset by income received by the ETF.

⁵ROC refers to Return of Capital. The ROC percentage indicates how much the distribution reflects an investor’s initial investment. The figures shown for each Fund in the table above are estimates and may later be determined to be taxable net investment income, short-term gains, long-term gains (to the extent permitted by law), or return of capital. Actual amounts and sources for tax reporting will depend upon the Fund’s investment activities during the remainder of the fiscal year and may be subject to changes based on tax regulations. Your broker will send you a Form 1099-DIV for the calendar year to tell you how to report these distributions for federal income tax purposes.

Each Fund has a limited operating history and while each Fund’s objective is to provide current income, there is no guarantee the Fund will make a distribution. Distributions are likely to vary greatly in amount.

Important Information

This material must be preceded or accompanied by the prospectus. For all prospectuses, click here.

Tidal Financial Group is the adviser for all YieldMax® ETFs.

THE FUND, TRUST, AND ADVISER ARE NOT AFFILIATED WITH ANY UNDERLYING REFERENCE ASSET.

Risk Disclosures (applicable to all YieldMax ETFs referenced above, except the Short ETFs)

YMAX, YMAG, FEAT and FIVY generally invest in other YieldMax® ETFs. As such, these Funds are subject to the risks listed in this section, which apply to all the YieldMax® ETFs they may hold from time to time.

Investing involves risk. Principal loss is possible.

Referenced Index Risk. The Fund invests in options contracts that are based on the value of the Index (or the Index ETFs). This subjects the Fund to certain of the same risks as if it owned shares of companies that comprised the Index or an ETF that tracks the Index, even though it does not.

Indirect Investment Risk. The Index is not affiliated with the Trust, the Fund, the Adviser, or their respective affiliates and is not involved with this offering in any way. Investors in the Fund will not have the right to receive dividends or other distributions or any other rights with respect to the companies that comprise the Index but will be subject to declines in the performance of the Index.

Russell 2000 Index Risks. The Index, which consists of small-cap U.S. companies, is particularly susceptible to economic changes, as these firms often have less financial resilience than larger companies. Market volatility can disproportionately affect these smaller businesses, leading to significant price swings. Additionally, these companies are often more exposed to specific industry risks and have less diverse revenue streams. They can also be more vulnerable to changes in domestic regulatory or policy environments.

Call Writing Strategy Risk. The path dependency (i.e., the continued use) of the Fund’s call writing strategy will impact the extent that the Fund participates in the positive price returns of the underlying reference asset and, in turn, the Fund’s returns, both during the term of the sold call options and over longer periods.

Counterparty Risk. The Fund is subject to counterparty risk by virtue of its investments in options contracts. Transactions in some types of derivatives, including options, are required to be centrally cleared (“cleared derivatives”). In a transaction involving cleared derivatives, the Fund’s counterparty is a clearing house rather than a bank or broker. Since the Fund is not a member of clearing houses and only members of a clearing house (“clearing members”) can participate directly in the clearing house, the Fund will hold cleared derivatives through accounts at clearing members.

Derivatives Risk. Derivatives are financial instruments that derive value from the underlying reference asset or assets, such as stocks, bonds, or funds (including ETFs), interest rates or indexes. The Fund’s investments in derivatives may pose risks in addition to, and greater than, those associated with directly investing in securities or other ordinary investments, including risk related to the market, imperfect correlation with underlying investments or the Fund’s other portfolio holdings, higher price volatility, lack of availability, counterparty risk, liquidity, valuation and legal restrictions.

Options Contracts. The use of options contracts involves investment strategies and risks different from those associated with ordinary portfolio securities transactions. The prices of options are volatile and are influenced by, among other things, actual and anticipated changes in the value of the underlying instrument, including the anticipated volatility, which are affected by fiscal and monetary policies and by national and international political, changes in the actual or implied volatility or the reference asset, the time remaining until the expiration of the option contract and economic events.

Distribution Risk. As part of the Fund’s investment objective, the Fund seeks to provide current income. There is no assurance that the Fund will make a distribution in any given period. If the Fund does make distributions, the amounts of such distributions will likely vary greatly from one distribution to the next.

High Portfolio Turnover Risk. The Fund may actively and frequently trade all or a significant portion of the Fund’s holdings. A high portfolio turnover rate increases transaction costs, which may increase the Fund’s expenses.

Liquidity Risk. Some securities held by the Fund, including options contracts, may be difficult to sell or be illiquid, particularly during times of market turmoil.

Non-Diversification Risk. Because the Fund is “non-diversified,” it may invest a greater percentage of its assets in the securities of a single issuer or a smaller number of issuers than if it was a diversified fund.

New Fund Risk. The Fund is a recently organized management investment company with no operating history. As a result, prospective investors do not have a track record or history on which to base their investment decisions.

Price Participation Risk. The Fund employs an investment strategy that includes the sale of call option contracts, which limits the degree to which the Fund will participate in increases in value experienced by the underlying reference asset over the Call Period.

Single Issuer Risk. Issuer-specific attributes may cause an investment in the Fund to be more volatile than a traditional pooled investment which diversifies risk or the market generally. The value of the Fund, which focuses on an individual security (ARKK, TSLA, AAPL, NVDA, AMZN, META, GOOGL, NFLX, COIN, MSFT, DIS, XOM, JPM, AMD, PYPL, SQ, MRNA, AI, MSTR, Bitcoin ETP, GDX®, SNOW, ABNB, BABA, TSM, SMCI, PLTR, MARA, CVNA, HOOD, BRK.B, DKNG), may be more volatile than a traditional pooled investment or the market as a whole and may perform differently from the value of a traditional pooled investment or the market as a whole.

Inflation Risk. Inflation risk is the risk that the value of assets or income from investments will be less in the future as inflation decreases the value of money. As inflation increases, the present value of the Fund’s assets and distributions, if any, may decline.

Indirect Investment Risk. The Index is not affiliated with the Trust, the Fund, the Adviser, or their respective affiliates and is not involved with this offering in any way.

Risk Disclosures (applicable only to GPTY)

Artificial Intelligence Risk. Issuers engaged in artificial intelligence typically have high research and capital expenditures and, as a result, their profitability can vary widely, if they are profitable at all. The space in which they are engaged is highly competitive and issuers’ products and services may become obsolete very quickly. These companies are heavily dependent on intellectual property rights and may be adversely affected by loss or impairment of those rights. The issuers are also subject to legal, regulatory, and political changes that may have a large impact on their profitability. A failure in an issuer’s product or even questions about the safety of the product could be devastating to the issuer, especially if it is the marquee product of the issuer. It can be difficult to accurately capture what qualifies as an artificial intelligence company.

Technology Sector Risk. The Fund will invest substantially in companies in the information technology sector, and therefore the performance of the Fund could be negatively impacted by events affecting this sector. Market or economic factors impacting technology companies and companies that rely heavily on technological advances could have a significant effect on the value of the Fund’s investments. The value of stocks of information technology companies and companies that rely heavily on technology is particularly vulnerable to rapid changes in technology product cycles, rapid product obsolescence, government regulation and competition, both domestically and internationally, including competition from foreign competitors with lower production costs. Stocks of information technology companies and companies that rely heavily on technology, especially those of smaller, less-seasoned companies, tend to be more volatile than the overall market. Information technology companies are heavily dependent on patent and intellectual property rights, the loss or impairment of which may adversely affect profitability.

Risk Disclosure (applicable only to MARO)

Digital Assets Risk: The Fund does not invest directly in Bitcoin or any other digital assets. The Fund does not invest directly in derivatives that track the performance of Bitcoin or any other digital assets. The Fund does not invest in or seek direct exposure to the current “spot” or cash price of Bitcoin. Investors seeking direct exposure to the price of Bitcoin should consider an investment other than the Fund. Digital assets like Bitcoin, designed as mediums of exchange, are still an emerging asset class. They operate independently of any central authority or government backing and are subject to regulatory changes and extreme price volatility.

Risk Disclosures (applicable only to BABO and TSMY)

Currency Risk: Indirect exposure to foreign currencies subjects the Fund to the risk that currencies will decline in value relative to the U.S. dollar. Currency rates in foreign countries may fluctuate significantly over short periods of time for a number of reasons, including changes in interest rates and the imposition of currency controls or other political developments in the U.S. or abroad.

Depositary Receipts Risk: The securities underlying BABO and TSMY are American Depositary Receipts (“ADRs”). Investment in ADRs may be less liquid than the underlying shares in their primary trading market.

Foreign Market and Trading Risk: The trading markets for many foreign securities are not as active as U.S. markets and may have less governmental regulation and oversight.

Foreign Securities Risk: Investments in securities of non-U.S. issuers involve certain risks that may not be present with investments in securities of U.S. issuers, such as risk of loss due to foreign currency fluctuations or to political or economic instability, as well as varying regulatory requirements applicable to investments in non-U.S. issuers. There may be less information publicly available about a non-U.S. issuer than a U.S. issuer. Non-U.S. issuers may also be subject to different regulatory, accounting, auditing, financial reporting, and investor protection standards than U.S. issuers.

Risk Disclosures (applicable only to GDXY)

Risk of Investing in Foreign Securities. The Fund is exposed indirectly to the securities of foreign issuers selected by GDX®’s investment adviser, which subjects the Fund to the risks associated with such companies. Investments in the securities of foreign issuers involve risks beyond those associated with investments in U.S. securities.

Risk of Investing in Gold and Silver Mining Companies. The Fund is exposed indirectly to gold and silver mining companies selected by GDX®’s investment adviser, which subjects the Fund to the risks associated with such companies.

The Fund invests in options contracts based on the value of the VanEck Gold Miners ETF (GDX®), which subjects the Fund to some of the same risks as if it owned GDX®, as well as the risks associated with Canadian, Australian and Emerging Market Issuers, and Small-and Medium-Capitalization companies.

Risk Disclosures (applicable only to YBIT)

YBIT does not invest directly in Bitcoin or any other digital assets. YBIT does not invest directly in derivatives that track the performance of Bitcoin or any other digital assets. YBIT does not invest in or seek direct exposure to the current “spot” or cash price of Bitcoin. Investors seeking direct exposure to the price of Bitcoin should consider an investment other than YBIT.

Bitcoin Investment Risk: The Fund’s indirect investment in Bitcoin, through holdings in one or more Underlying ETPs, exposes it to the unique risks of this emerging innovation. Bitcoin’s price is highly volatile, and its market is influenced by the changing Bitcoin network, fluctuating acceptance levels, and unpredictable usage trends.

Digital Assets Risk: Digital assets like Bitcoin, designed as mediums of exchange, are still an emerging asset class. They operate independently of any central authority or government backing and are subject to regulatory changes and extreme price volatility. Potentially No 1940 Act Protections. As of the date of this Prospectus, there is only a single eligible Underlying ETP, and it is an investment company subject to the 1940 Act.

Bitcoin ETP Risk: The Fund invests in options contracts that are based on the value of the Bitcoin ETP. This subjects the Fund to certain of the same risks as if it owned shares of the Bitcoin ETP, even though it does not. Bitcoin ETPs are subject, but not limited, to significant risk and heightened volatility. An investor in a Bitcoin ETP may lose their entire investment. Bitcoin ETPs are not suitable for all investors. In addition, not all Bitcoin ETPs are registered under the Investment Company Act of 1940. Those Bitcoin ETPs that are not registered under such statute are therefore not subject to the same regulations as exchange traded products that are so registered.

Risk Disclosures (applicable only to the Short ETFs)

Investing involves risk. Principal loss is possible.

Price Appreciation Risk. As part of the Fund’s synthetic covered put strategy, the Fund purchases and sells call and put option contracts that are based on the value of the underlying reference asset. This strategy subjects the Fund to certain of the same risks as if it shorted the underlying reference asset, even though it does not. By virtue of the Fund’s indirect inverse exposure to changes in the value of the underlying reference asset, the Fund is subject to the risk that the value of the underlying reference asset increases. If the value of the underlying reference asset increases, the Fund will likely lose value and, as a result, the Fund may suffer significant losses.

Put Writing Strategy Risk. The path dependency (i.e., the continued use) of the Fund’s put writing (selling) strategy will impact the extent that the Fund participates in decreases in the value of the underlying reference asset and, in turn, the Fund’s returns, both during the term of the sold put options and over longer periods.

Purchased OTM Call Options Risk. The Fund’s strategy is subject to potential losses if the underlying reference asset increases in value, which may not be offset by the purchase of out-of-the-money (OTM) call options. The Fund purchases OTM calls to seek to manage (cap) the Fund’s potential losses from the Fund’s short exposure to the underlying reference asset if it appreciates significantly in value. However, the OTM call options will cap the Fund’s losses only to the extent that the value of the underlying reference asset increases to a level that is at or above the strike level of the purchased OTM call options. Any increase in the value of the underlying reference asset to a level that is below the strike level of the purchased OTM call options will result in a corresponding loss for the Fund. For example, if the OTM call options have a strike level that is approximately 100% above the then-current value of the underlying reference asset at the time of the call option purchase, and the value of the underlying reference asset increases by at least 100% during the term of the purchased OTM call options, the Fund will lose all its value. Since the Fund bears the costs of purchasing the OTM calls, such costs will decrease the Fund’s value and/or any income otherwise generated by the Fund’s investment strategy.

Options Contracts. The use of options contracts involves investment strategies and risks different from those associated with ordinary portfolio securities transactions. The prices of options are volatile and are influenced by, among other things, actual and anticipated changes in the value of the underlying reference asset, including the anticipated volatility, which are affected by fiscal and monetary policies and by national and international political, changes in the actual or implied volatility or the reference asset, the time remaining until the expiration of the option contract and economic events.

High Portfolio Turnover Risk. The Fund may actively and frequently trade all or a significant portion of the Fund’s holdings.

Liquidity Risk. Some securities held by the Fund, including options contracts, may be difficult to sell or be illiquid, particularly during times of market turmoil.

Price Participation Risk. The Fund employs an investment strategy that includes the sale of put option contracts, which limits the degree to which the Fund will participate in decreases in value experienced by the underlying reference asset over the Put Period.

Single Issuer Risk. Issuer-specific attributes may cause an investment in the Fund to be more volatile than a traditional pooled investment which diversifies risk or the market generally. The value of the Fund, for any Fund that focuses on an individual security (e.g., TSLA, COIN, NVDA, MSTR), may be more volatile than a traditional pooled investment or the market as a whole and may perform differently from the value of a traditional pooled investment or the market as a whole. Inflation Risk. Inflation risk is the risk that the value of assets or income from investments will be less in the future as inflation decreases the value of money. As inflation increases, the present value of the Fund’s assets and distributions, if any, may decline.

Risk Disclosures (applicable only to CHPY)

Semiconductor Industry Risk. Semiconductor companies may face intense competition, both domestically and internationally, and such competition may have an adverse effect on their profit margins. Semiconductor companies may have limited product lines, markets, financial resources or personnel. Semiconductor companies’ supply chain and operations are dependent on the availability of materials that meet exacting standards and the use of third parties to provide components and services.

The products of semiconductor companies may face obsolescence due to rapid technological developments and frequent new product introduction, unpredictable changes in growth rates and competition for the services of qualified personnel. Capital equipment expenditures could be substantial, and equipment generally suffers from rapid obsolescence. Companies in the semiconductor industry are heavily dependent on patent and intellectual property rights. The loss or impairment of these rights would adversely affect the profitability of these companies.

Risk Disclosures (applicable only to YQQQ)

Index Overview. The Nasdaq 100 Index is a benchmark index that includes 100 of the largest non-financial companies listed on the Nasdaq Stock Market, based on market capitalization.

Index Level Appreciation Risk. As part of the Fund’s synthetic covered put strategy, the Fund purchases and sells call and put option contracts that are based on the Index level. This strategy subjects the Fund to certain of the same risks as if it shorted the Index, even though it does not. By virtue of the Fund’s indirect inverse exposure to changes in the Index level, the Fund is subject to the risk that the Index level increases. If the Index level increases, the Fund will likely lose value and, as a result, the Fund may suffer significant losses. The Fund may also be subject to the following risks: innovation and technological advancement; strong market presence of Index constituent companies; adaptability to global market trends; and resilience and recovery potential.

Index Level Participation Risk. The Fund employs an investment strategy that includes the sale of put option contracts, which limits the degree to which the Fund will benefit from decreases in the Index level experienced over the Put Period. This means that if the Index level experiences a decrease in value below the strike level of the sold put options during a Put Period, the Fund will likely not experience that increase to the same extent and any Fund gains may significantly differ from the level of the Index losses over the Put Period. Additionally, because the Fund is limited in the degree to which it will participate in decreases in value experienced by the Index level over each Put Period, but has significant negative exposure to any increases in value experienced by the Index level over the Put Period, the NAV of the Fund may decrease over any given period. The Fund’s NAV is dependent on the value of each options portfolio, which is based principally upon the inverse of the performance of the Index level. The Fund’s ability to benefit from the Index level decreases will depend on prevailing market conditions, especially market volatility, at the time the Fund enters into the sold put option contracts and will vary from Put Period to Put Period. The value of the options contracts is affected by changes in the value and dividend rates of component companies that comprise the Index, changes in interest rates, changes in the actual or perceived volatility of the Index and the remaining time to the options’ expiration, as well as trading conditions in the options market. As the Index level changes and time moves towards the expiration of each Put Period, the value of the options contracts, and therefore the Fund’s NAV, will change. However, it is not expected for the Fund’s NAV to directly inversely correlate on a day-to-day basis with the returns of the Index level. The amount of time remaining until the options contract’s expiration date affects the impact that the value of the options contracts has on the Fund’s NAV, which may not be in full effect until the expiration date of the Fund’s options contracts. Therefore, while changes in the Index level will result in changes to the Fund’s NAV, the Fund generally anticipates that the rate of change in the Fund’s NAV will be different than the inverse of the changes experienced by the Index level.

YieldMax® ETFs are distributed by Foreside Fund Services, LLC. Foreside is not affiliated with Tidal Financial Group, or YieldMax® ETFs.

The MIL Network –

July 23, 2025

MIL-OSI: Synervest Group Raises $4 Million Series A to Accelerate Global Expansion of Institutional Fintech Infrastructure

Source: GlobeNewswire (MIL-OSI)

ABU DHABI, United Arab Emirates, July 23, 2025 (GLOBE NEWSWIRE) — Global Market—Synervest Group, a fintech holding company delivering institutional-grade infrastructure across trading, payments, and financial technology, today announced it has raised $4 million in Series A funding. The round was led by Jura Investment Group, with continued participation from CMT Digital, valuing the company at $60 million—double its valuation from just 12 months earlier.

The investment follows a strong period of commercial and operational momentum across Synervest’s portfolio of financial services businesses. The funding will be used to accelerate international expansion, enhance the Group’s regulatory presence, and strengthen its institutional offering.

“Bringing Jura on board as a strategic partner, alongside the continued backing of CMT Digital, is a major endorsement of our model and long-term vision,” said Alexander Oelfke, Founding Partner at Synervest Group. “This partnership enables us to scale faster, deepen our regulatory capabilities, and broaden our reach across institutional markets.”

With legal entities and regulatory licenses in key international jurisdictions, Synervest maintains operational hubs in Europe and the Middle East and serves financial institutions seeking compliant, scalable, cross-border infrastructure.

“We see great potential in Synervest Group and are excited to support their global expansion. Their innovative approach to fintech aligns well with our vision, and we look forward to contributing our expertise to accelerate their growth,” said Bas Kooijman, CEO of Jura Investment Group.

“The future of financial markets will be shaped by firms that can operate across borders while meeting the highest regulatory standards,” said Jan-Dirk L., Co-Founder of CMT Digital. “Synervest is building precisely that—robust trading infrastructure designed for global institutions. We’re proud to support their next phase of growth.”

About Synervest Group

Synervest Group is a global fintech platform providing a unified and highly interconnected compliance-led ecosystem that triggers scalable offerings for both B2B and B2C models whether for proprietary or external utility across trading, payments, and financial technology. Headquartered in Abu Dhabi Global Market (ADGM), the Group operates across key international financial hubs with regulatory licenses in multiple jurisdictions.

Contact
Marc Suárez – Head of Marketing
marketing@synervest.group

The MIL Network –

July 23, 2025
MIL-OSI: MARA Holdings, Inc. Announces Proposed Private Offering of $850 Million of Zero Coupon Convertible Senior Notes

Source: GlobeNewswire (MIL-OSI)

Miami, FL, July 23, 2025 (GLOBE NEWSWIRE) — MARA Holdings, Inc. (NASDAQ: MARA) (“MARA” or the “Company”), a leading digital energy and infrastructure company, today announced that it intends to offer, subject to market conditions and other factors, $850 million aggregate principal amount of 0.00% convertible senior notes due 2032 (the “notes”) in a private offering to persons reasonably believed to be qualified institutional buyers in reliance on Rule 144A under the Securities Act of 1933, as amended (the “Securities Act”). MARA also expects to grant to the initial purchasers of the notes an option to purchase, within a 13-day period beginning on, and including, the date on which the notes are first issued, up to an additional $150 million aggregate principal amount of the notes. The offering is subject to market and other conditions, and there can be no assurance as to whether, when or on what terms the offering may be completed.

The notes will be unsecured, senior obligations of MARA. The notes are not expected to bear regular interest (other than special interest in limited circumstances) and the principal amount of the notes is not expected to accrete. Special interest, if any, on the notes will be payable semi-annually in arrears on February 1 and August 1 of each year, beginning on February 1, 2026 (if and to the extent that special interest is then payable on the notes). The notes will mature on August 1, 2032, unless earlier repurchased, redeemed or converted in accordance with their terms. Subject to certain conditions, on or after January 15, 2030, MARA may redeem for cash all or any portion of the notes. If MARA redeems fewer than all the outstanding notes, at least $75 million aggregate principal amount of notes must be outstanding and not subject to redemption as of the relevant redemption notice date. Holders of the notes will have the right to require MARA to repurchase for cash all or any portion of their notes on January 4, 2030, if the last reported sale price of MARA’s common stock on the second trading day immediately preceding the repurchase date is less than the conversion price. The notes will be convertible into cash, shares of MARA’s common stock, or a combination of cash and shares of MARA’s common stock, at MARA’s election. Prior to May 1, 2032, the notes will be convertible only upon the occurrence of certain events and during certain periods, and thereafter, at any time until the close of business on the second scheduled trading day immediately preceding the maturity date. The interest rate, initial conversion rate and other terms of the notes will be determined at the time of pricing of the offering. MARA expects that the reference price used to calculate the initial conversion price for the notes will be the U.S. composite volume weighted average price of MARA’s common stock from 2:00 p.m. through 4:00 p.m. Eastern Daylight Time on the date of pricing.

MARA expects to use up to $50 million of the net proceeds from the sale of the notes to repurchase a portion of its existing 1.00% convertible senior notes due 2026 (the “1.00% 2026 convertible notes”) in privately negotiated transactions with the remainder of the net proceeds to be used to pay the cost of the capped call transactions (as described below), to acquire additional bitcoin and for general corporate purposes, which may include working capital, strategic acquisitions, expansion of existing assets, and repayment of additional debt and other outstanding obligations.

In connection with any repurchase of the 1.00% 2026 convertible notes, MARA expects that holders of the 1.00% 2026 convertible notes who agree to have their notes repurchased and who have hedged their equity price risk with respect to such notes (the “hedged holders”) will unwind all or part of their hedge positions by buying MARA’s common stock and/or entering into or unwinding various derivative transactions with respect to MARA’s common stock. The amount of MARA’s common stock to be purchased by the hedged holders or in connection with such derivative transactions may be substantial in relation to the historic average daily trading volume of MARA’s common stock. This activity by the hedged holders could increase (or reduce the size of any decrease in) the market price of MARA’s common stock, including concurrently with the pricing of the notes, resulting in a higher effective conversion price of the notes. MARA cannot predict the magnitude of such market activity or the overall effect it will have on the price of the notes or MARA’s common stock.

In connection with the pricing of the notes, MARA expects to enter into privately negotiated capped call transactions with one or more of the initial purchasers and/or their respective affiliates and/or other financial institutions (the “option counterparties”). If the initial purchasers exercise their option to purchase additional notes, MARA expects to use a portion of the net proceeds from the sale of such additional notes to enter into additional capped call transactions with the option counterparties. The capped call transactions will cover, subject to anti-dilution adjustments, the number of shares of common stock underlying the notes sold in the offering. The capped call transactions are generally expected to reduce potential dilution to the common stock upon any conversion of notes and/or offset any cash payments MARA elects to make in excess of the principal amount of converted notes, as the case may be, with such reduction and/or offset subject to a cap.

MARA has been advised that, in connection with establishing their initial hedges of the capped call transactions, the option counterparties or their respective affiliates expect to purchase shares of common stock and/or enter into various derivative transactions with respect to the common stock concurrently with or shortly after the pricing of the notes. This activity could increase (or reduce the size of any decrease in) the market price of the common stock or the notes at that time. In addition, the option counterparties or their respective affiliates may modify their hedge positions by entering into or unwinding various derivatives with respect to the common stock and/or purchasing or selling the common stock or other securities of MARA in secondary market transactions following the pricing of the notes and prior to the maturity of the notes (and are likely to do so during any observation period related to a conversion of the notes, in connection with any redemption of the notes, any fundamental change repurchase of the notes or any exercise of a holder’s optional repurchase right, and, to the extent MARA unwinds a corresponding portion of the capped call transactions, following any other repurchase of the notes). This activity could also cause or avoid an increase or a decrease in the market price of the common stock or the notes, which could affect the ability of noteholders to convert the notes and, to the extent the activity occurs during any observation period related to a conversion of notes, it could affect the number of shares of common stock, if any, and value of the consideration that noteholders will receive upon conversion of the notes.

The notes will be offered and sold to persons reasonably believed to be qualified institutional buyers pursuant to Rule 144A under the Securities Act. The offer and sale of the notes and the shares of MARA’s common stock issuable upon conversion of the notes, if any, have not been and will not be registered under the Securities Act or the securities laws of any other jurisdiction, and the notes and any such shares may not be offered or sold in the United States absent registration or an applicable exemption from such registration requirements. Any offer of the notes will be made only by means of a private offering memorandum.

This press release shall not constitute an offer to sell, or a solicitation of an offer to buy, the notes, nor shall there be any sale of the notes in any state or jurisdiction in which such offer, solicitation or sale would be unlawful under the securities laws of any such state or jurisdiction. Nothing in this press release shall be deemed an offer to purchase MARA’s 1.00% 2026 convertible notes.

About MARA

MARA (NASDAQ:MARA) deploys digital energy technologies to advance the world’s energy systems. Harnessing the power of compute, MARA transforms excess energy into digital capital, balancing the grid and accelerating the deployment of critical infrastructure. Building on its expertise to redefine the future of energy, MARA develops technologies that reduce the energy demands of high-performance computing applications, from AI to the edge.

Forward-Looking Statements

Statements in this press release about future expectations, plans, and prospects, as well as any other statements regarding matters that are not historical facts, may constitute “forward-looking statements” within the meaning of The Private Securities Litigation Reform Act of 1995. These statements include, but are not limited to, statements relating to the completion, size and timing of the offering, the anticipated use of any proceeds from the offering, and the terms of the notes and the capped call transactions. The words “anticipate,” “believe,” “continue,” “could,” “estimate,” “expect,” “intend,” “may,” “plan,” “potential,” “predict,” “project,” “should,” “target,” “will,” “would,” and similar expressions are intended to identify forward-looking statements, although not all forward-looking statements contain these identifying words. Actual results may differ materially from those indicated by such forward-looking statements as a result of various important factors, including uncertainties related to market conditions and the completion of the offering on the anticipated terms or at all, the other factors discussed in the “Risk Factors” section of MARA’s Annual Report on Form 10-K filed with the U.S. Securities and Exchange Commission (the “SEC”) on March 3, 2025 and the risks described in other filings that MARA may make from time to time with the SEC. Any forward-looking statements contained in this press release speak only as of the date hereof, and MARA specifically disclaims any obligation to update any forward-looking statement, whether as a result of new information, future events, or otherwise, except to the extent required by applicable law.

MARA Company Contact:
Telephone: 800-804-1690
Email: ir@mara.com

MARA Media Contact:
Email: mara@wachsman.com

The MIL Network –

July 23, 2025
MIL-OSI: Mobix Labs Accelerates Growth with Appointment of Phil Sansone as CEO as Co-Founder Fabian Battaglia Transitions to Strategic Advisor

Source: GlobeNewswire (MIL-OSI)

~ Mobix enters powerful new growth phase, expanding its footprint in defense, military, aerospace, and high-speed wireless innovation ~

~ Leadership transition marks new phase of expansion and innovation ~

IRVINE, Calif. , July 23, 2025 (GLOBE NEWSWIRE) — Mobix Labs, Inc. (NASDAQ: MOBX) (“Mobix” or the “Company”), a fabless semiconductor company focused on next-generation wireless and wired connectivity, today announced that Fabian Battaglia, the Company’s Chief Executive Officer and co-founder, is retiring from his role as CEO effective July 25, 2025. Phil Sansone, who has served as Interim CEO since April 2025, has been named Chief Executive Officer, effective July 25, 2025. Battaglia will remain actively involved with the Company as a senior advisor to the CEO and Board of Directors.

“Mobix Labs was founded with a mission to transform high-performance connectivity, and I’m incredibly proud of what we’ve built together,” said Fabian Battaglia. “Taking this company from an early-stage vision to a Nasdaq-listed innovator in just a few years has been the honor of my career. I have complete confidence in Phil’s leadership and look forward to supporting him and the Board in my new advisory role. The future of Mobix has never been brighter.”

Under Battaglia’s leadership, Mobix grew from a startup into a public company with a rapidly expanding presence in advanced communication technologies. As CEO, he spearheaded Mobix’s strategic expansion into critical sectors including defense, military, aerospace, and wireless communications, as well as rapid growth through M&A.

“Fabian’s vision, passion, and relentless commitment laid the foundation for Mobix’s success,” said Jim Peterson, Executive Chairman of the Board. “We are grateful for his exceptional leadership and pleased that he will continue contributing to the Company in an advisory capacity. We are equally excited to welcome Phil as our new CEO — a proven leader with the insight, drive, and strategic acumen to guide Mobix into its next chapter of growth.”

Phil Sansone brings over two decades of operational leadership experience, including his most recent role leading Mobix as interim CEO. In that time, he has accelerated customer acquisition, strengthened internal execution, and positioned the Company for scalable expansion.

“I’m honored to take the helm as CEO of Mobix Labs at this pivotal moment,” said Phil Sansone, Chief Executive Officer. “We have extraordinary technology, world-class talent, and a clear vision. As we enter our next phase, I’m committed to delivering transformative solutions to our customers and exceptional value to our shareholders.”

The leadership transition underscores Mobix’s commitment to long-term innovation, growth, and operational excellence as the Company continues to scale across key growth markets.

Phil Sansone brings over 30 years of global sales and executive management experience within the semiconductor industry. Previoulsy, Sansone held senior roles at Microsemi and MaxLinear and spent nearly two decades at Avnet, ultimately serving as Senior Vice President of North American sales and engineering. He was instrumental in driving market share gains and improving operational performance. Sansone’s proven leadership in global distribution, strategic partnerships, and revenue growth strongly supports Mobix’s continuing success in dynamic, high-demand markets.

Since joining Mobix Labs in October 2021 as Vice President of Sales, Sansone has notably expanded the company’s footprint in the military, defense, and aerospace sectors, securing key orders for technologies utilized in critical U.S. military and defense platforms.

About Mobix Labs, Inc.

Mobix Labs designs, develops, and supplies advanced connectivity and sensing solutions for high-growth sectors, including aerospace, defense, wireless, medical, industrial, and automotive markets. Headquartered in Irvine, California, Mobix’s offerings include mmWave RF modules, EMI filters, optical interconnects, and active optical cable systems. Founded in 2020, the company is publicly traded on Nasdaq under the ticker MOBX.

Forward-Looking Statements

This press release contains “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements are based on current expectations, estimates, forecasts, and projections about future events and the performance of Mobix Labs, Inc. (“Mobix,” the “Company,” “we,” or “our”), and involve risks, uncertainties, and assumptions that are difficult to predict. These statements include, but are not limited to, statements regarding the Company’s strategic growth initiatives, market expansion plans, leadership transition, expectations regarding the Company’s technology development, customer relationships, product demand, and future financial and operational performance.

Words such as “anticipate,” “believe,” “continue,” “could,” “estimate,” “expect,” “forecast,” “intend,” “may,” “plan,” “potential,” “predict,” “project,” “should,” “target,” “will,” “would,” and similar expressions, as they relate to Mobix or its management, are intended to identify such forward-looking statements. These statements are not guarantees of future performance and involve risks, uncertainties, and assumptions that are difficult to predict and that are, in many cases, beyond the Company’s control.

Actual results may differ materially from those expressed or implied in forward-looking statements due to various factors, including, but not limited to: the ability of the Company to effectively execute its growth strategy; risks related to leadership transitions and management continuity; macroeconomic and geopolitical conditions; supply chain disruptions; market acceptance of new products and technologies; customer demand and procurement timing in the defense and aerospace sectors; the Company’s ability to maintain compliance with Nasdaq listing requirements; and other risks and uncertainties described from time to time in the Company’s filings with the U.S. Securities and Exchange Commission (the “SEC”), including under the section entitled “Risk Factors” in the Company’s Annual Report on Form 10-K and Quarterly Reports on Form 10-Q.

Mobix assumes no obligation to update any forward-looking statements, whether as a result of new information, future events, or otherwise, except as required by law. Readers are cautioned not to place undue reliance on these forward-looking statements.

About Mobix Labs, Inc.

Mobix Labs (Nasdaq: MOBX) is a purpose-built, 100% U.S.-based supplier of advanced connectivity solutions targeting aerospace, defense, AI, and 5G infrastructure markets. Headquartered in Irvine, California, Mobix Labs delivers performance-critical RF, optical, and electromagnetic interference (EMI) interconnect technologies through proprietary semiconductor IP, advanced packaging, and vertically integrated manufacturing. Learn more at www.mobixlabs.com.

Investor Contact:
Ryan Battaglia
rbattaglia@mobixlabs.com

Media Contact:
Christopher Lancaster
clancaster@mobixlabs.com

Source: Mobix Labs, Inc.

The MIL Network –

July 23, 2025
MIL-OSI: CertiK Skynet Report Ranks Leading Stablecoins: USDT, USDC, PYUSD, and RLUSD Among the Top

Source: GlobeNewswire (MIL-OSI)

NEW YORK, July 23, 2025 (GLOBE NEWSWIRE) — CertiK, the largest Web3 security services company, released its Skynet Stablecoin Spotlight Report for H1 2025, detailing the current state of the stablecoin market, how the Skynet Stablecoin Rating Framework provides a tailored system for evaluating a stablecoin’s security risk profile, and recent regulatory impacts on stablecoin adoption and security.

In this report, CertiK noted that stablecoin adoption grew significantly in the first half of 2025; as of July 2025, stablecoins represent approximately 8.9% of the overall crypto market. However, as is the case with the growth of other digital assets, stablecoin expansion has brought increased scrutiny of security, risk, and regulatory compliance. This shift was one of the driving factors behind the development of CertiK’s Skynet rating system, which brings a comprehensive framework for assessing stablecoin activity from a security and risk standpoint, aiming to protect stablecoin users.

The report paints a detailed picture of the current state of the stablecoin market. For instance, aggregate supply of stablecoins grew from $204 billion to $252 billion in the first half of 2025, and monthly settlement volumes rose by 43 percent to $1.39 trillion. Stablecoins such as USDT (Tether) and USDC (Circle) are dominating the stablecoin market, with other stablecoins seeing a steep growth trajectory.

Additionally, CertiK noted how recent regulatory developments are changing the stablecoin landscape. In the United States, the Stablecoin Transparency and Accountability for a Better Ledger Economy (STABLE) Act of 2025 proposes a robust federal framework for stablecoin reserve requirements and monthly audited reserve reports, among other requirements. Concurrently, the Senate passed the Guiding and Establishing National Innovation for U.S. Stablecoins (GENIUS) Act of 2025, which proposes a tiered regulatory system, allowing smaller issuers (under $10 billion in circulation) to operate under state-level oversight while mandating federal supervision for larger entities. The European Union has enforced its own similar frameworks through Markets in Crypto-Assets (MiCA).

These frameworks are bifurcating the market into license-ready leaders and non-compliant holdouts. Banks such as Société Générale, Santander, and Bank of America, and payment networks like Visa and Stripe, accelerated stablecoin pilots, signaling that regulated USD-backed coins are moving onto traditional finance rails.

As stablecoin adoption accelerates, security considerations will become all the more important. Thus, the focal point of CertiK’s report is its Skynet Stablecoin Rating Framework, which combines qualitative analysis with quantitative metrics across six key domains: Operational Resilience, Governance Strength, Fundamental Health, Code Security, Market Dynamic, and Community Trust. Some of the leading stablecoins evaluated by CertiK’s framework include USDT, USDC, PYUSD, and USDS.

CertiK’s report noted that the next wave of stablecoin innovation will likely involve the growth of two main stablecoin models: RWA-backed stablecoins and yield-bearing stablecoins. According to the report, the stablecoin market is projected to exceed $300 billion by year-end. In this evolving environment, rigorous risk management, transparent operations, and a proactive compliance posture are the critical determinants of long-term viability.

Elisa Yiting Xu
yiting.xu@certik.com

The MIL Network –

July 23, 2025

MIL-OSI: Fidelity D & D Bancorp, Inc. Reports Second Quarter 2025 Financial Results

Source: GlobeNewswire (MIL-OSI)

DUNMORE, Pa., July 23, 2025 (GLOBE NEWSWIRE) — Fidelity D & D Bancorp, Inc. (NASDAQ: FDBC) and its banking subsidiary, The Fidelity Deposit and Discount Bank, announced its unaudited, consolidated financial results for the three and six-month periods ended June 30, 2025.

Unaudited Financial Information

Net income for the quarter ended June 30, 2025 was $6.9 million, or $1.20 diluted earnings per share, compared to $4.9 million, or $0.86 diluted earnings per share, for the quarter ended June 30, 2024. The $2.0 million, or 40%, increase in net income resulted primarily from a $2.8 million increase in net interest income coupled with a $0.8 million increase in non-interest income. This was partially offset by a $1.1 million increase in non-interest expense and a $0.6 million increase in the provision for income tax.

For the six months ended June 30, 2025, net income was $12.9 million, or $2.23 diluted earnings per share, compared to $10.0 million, or $1.73 diluted earnings per share, for the six months ended June 30, 2024. The $2.9 million, or 29%, increase in net income stemmed from the $4.9 million increase in net interest income and $1.1 million increase in non-interest income. This was partially offset by a $2.0 million increase in non-interest expense and a $1.0 million increase in the provision for income tax.

“I am pleased to share that we delivered another strong quarter, underscoring the continued momentum of our strategy and the dedication of our entire team,” stated Daniel J. Santaniello, President and Chief Executive Officer. “Second quarter 2025 net income increased 40% over last year’s second quarter to $6.9 million, with diluted earnings per share rising to $1.20. This performance was driven by a 19% increase in net interest income—reflecting our disciplined loan portfolio expansion and enhanced yields as well as a 16% rise in non-interest income.

Year-to-date, net income has grown 29% to $12.9 million, a clear testament to the strength of our relationship-based deposit strategy and prudent expense management. Our asset quality remains solid, and we further strengthened our capital position, with shareholders’ equity up 7% providing a strong foundation for continued growth in the second half of 2025.

These results reflect more than financial performance—they speak to the strength of our culture, our commitment to our clients, and our deep roots in the communities we serve. I want to sincerely thank our talented and dedicated team of bankers, whose expertise and focus on service excellence drive our success every day. Together, we continue to build a stronger, more resilient financial institution—one that delivers meaningful value to our bankers, clients, shareholders, and communities.”

Consolidated Second Quarter Operating Results Overview

Net interest income was $17.9 million for the second quarter of 2025, a 19% increase over the $15.1 million earned for the second quarter of 2024. The $2.8 million increase in net interest income resulted from the increase of $3.7 million in interest income primarily due to a $213.6 million increase in the average balance of interest-earning assets and a 19 basis point increase in fully-taxable equivalent (“FTE”) (non-GAAP measurement) yield. The loan portfolio had the most significant impact, producing a $2.8 million increase in FTE interest income from $124.6 million in higher quarterly average balances and an increase of 24 basis points in FTE loan yield. Additionally, the Company experienced an increase of $1.1 million in interest earned from interest-bearing deposits with other financial institutions from $102.0 million in higher average balances. Slightly offsetting the higher interest income, there was a $0.9 million increase in interest expense due to a $178.8 million quarter-over-quarter increase in average interest-bearing liability balances. The increase was due to growth of $208.3 million in average interest-bearing deposit balances. However, this deposit growth was partially offset by a $28.5 million decrease in average short-term borrowings.

The FTE yield on interest-earning assets was 4.77% for the second quarter of 2025, an increase of 19 basis points from the 4.58% for the second quarter of 2024. The overall cost of interest-bearing liabilities was 2.52% for the second quarter of 2025, a decrease of 6 basis points from the 2.58% for the second quarter of 2024. The cost of funds decreased 1 basis point from 1.96% to 1.95% for the second quarters of 2024 and 2025, respectively. The Company’s FTE net interest spread was 2.25% for the second quarter of 2025, an increase of 25 basis points from 2.00% recorded for the second quarter of 2024. FTE net interest margin increased to 2.92% for the three months ended June 30, 2025 from 2.71% for the same period of 2024 primarily due to the growth in higher yielding taxable commercial loans.

For the three months ended June 30, 2025, the provision for credit losses on loans was $300 thousand and the provision for unfunded commitments was $20 thousand compared to a $275 thousand provision for credit losses on loans and a $140 thousand provision for credit losses on unfunded loan commitments for the three months ended June 30, 2024. For the three months ended June 30, 2025, the increase in the provision for credit losses on loans compared to the prior year period was due to $155 thousand in higher net charge-offs and a higher average total loan balance compared to the same period in 2024. For the three months ended June 30, 2025, the decrease in the provision for unfunded commitments was due to lower levels of unfunded commitments during the quarter due to increased utilization, specifically commercial construction commitments, compared to the year earlier period.

Total non-interest income increased $0.8 million, or 16%, to $5.4 million for the second quarter of 2025 compared to $4.6 million for the second quarter of 2024. The increase in non-interest income was primarily attributed to increases of $0.2 million in trust fees, a $0.2 million BOLI death benefit, $0.2 million in loan service charges, and $0.1 million in interchange fees.

Non-interest expenses increased $1.1 million, or 8%, for the second quarter of 2025 to $14.7 million from $13.6 million for the same quarter of 2024. The increase in non-interest expenses was primarily due to the increases in salaries and benefits expense of $0.8 million, premises and equipment expense of $0.2 million, and advertising expense of $0.2 million. These increases were partially offset by a $0.2 million decrease in professional services for the three months ended June 30, 2025 compared to the same period of 2024.

The provision for income taxes increased $0.6 million during the three months ended June 30, 2025 compared to the same period in 2024 primarily due to a $2.6 million increase in income before taxes.

Consolidated Year-To-Date Operating Results Overview

Net interest income was $35.0 million for the six months ended June 30, 2025 compared to $30.1 million for the six months ended June 30, 2024. The $4.9 million increase in net interest income resulted from the increase of $6.4 million in interest income primarily due to a $181.0 million increase in the average balance of interest-earning assets and a 20 basis point increase in FTE yield. On the asset side, the loan portfolio interest income growth resulted from producing $5.3 million more in interest income from an increase of 25 basis points in FTE loan yields on $120.5 million in higher average balances. Additionally, the Company experienced an increase of $1.5 million in interest earned from interest-bearing deposits with other financial institutions from $71.6 million in higher average balances. The increase in interest income was partially offset by a decrease of $0.3 million in interest earned on the investment portfolio due to decreases of 6 basis points in yield and $11.3 million in average balances. On the funding side, total interest expense increased by $1.5 million primarily due to an increase in interest expense paid on deposits of $2.5 million from a 2 basis points higher rates paid on a $194.0 million larger average balance of interest-bearing deposits, partially offset by a decrease in interest expense on borrowings of $1.0 million for the six months ended June 30, 2025 compared to the same period in 2024.

The overall cost of interest-bearing liabilities was 2.51% for the six months ended June 30, 2025 compared to 2.54% for the six months ended June 30, 2024. The cost of funds decreased 1 basis point to 1.94% for the six months ended June 30, 2025 from 1.95% from the same period of 2024. The FTE yield on earning assets was 4.75% for the six months ended June 30, 2025, an increase of 20 basis points from the 4.55% year-to-date June 30, 2024. The Company’s FTE net interest spread was 2.24% for the six months ended June 30, 2025, an increase of 23 basis points from the 2.01% recorded for the same period of 2024. FTE net interest margin increased by 21 basis points to 2.91% for the six months ended June 30, 2025 from 2.70% for the same 2024 period primarily due to the increase in yields earned on loans and leases outpacing the rates paid on interest-bearing deposits.

For the six months ended June 30, 2025, the provision for credit losses on loans was $755 thousand and the provision for credit losses on unfunded loan commitments was a net benefit of $65 thousand compared to a $400 thousand provision for credit losses on loans and a $90 thousand provision for credit losses on unfunded commitments for the six months ended June 30, 2024. For the six months ended June 30, 2025, the increase in the provision for credit losses on loans compared to the prior year period was due to $215 thousand in higher net charge-offs and a higher average total loan balance compared to the same period in 2024. For the six months ended June 30, 2025, the decrease in the provision for unfunded commitments was due to lower growth in unfunded commitments during the period due to increased utilization, specifically commercial construction commitments, compared to the year earlier period.

Total non-interest income for the six months ended June 30, 2025 was $10.3 million, an increase of $1.1 million, or 12%, from $9.2 million for the six months ended June 30, 2024. The increase was primarily due to $0.3 million higher fees from trust fiduciary activities. The Company also had $0.2 million more non-interest income resulting from an increase in interchange fees, a $0.2 million BOLI death benefit, and an increase of $0.2 million in service charges on commercial loans. During the first half of 2025, gains of $0.5 million on the sale of a commercial loan and $0.3 million from the sale of a property were offset by $0.8 million in losses recognized on the sale of securities.

Non-interest expenses increased to $29.3 million for the six months ended June 30, 2025, an increase of $2.0 million, or 7%, from $27.3 million for the six months ended June 30, 2024. Salaries and benefits expense increased $1.3 million due to an increase in bankers, group insurance costs, and banker incentives in the first half of 2025, compared to the same period in 2024. Additionally, the Company saw an increase of $0.5 million in advertising and marketing expenses primarily due to a $0.3 million increase in Neighborhood Assistance Program donations from which the Company recognized $0.2 million in additional tax credits causing a corresponding decrease in PA shares tax expense. There was also an increase of $0.5 million in premises and equipment expense primarily due to higher costs for software licenses, subscriptions, and maintenance. The increases were partially offset by $0.3 million less in professional services expense.

The provision for income taxes increased $1.0 million during the six months ended June 30, 2025 compared to the same period in 2024 primarily due to a $3.9 million increase in income before taxes and $0.2 million less in tax credits.

Consolidated Balance Sheet & Asset Quality Overview

The Company’s total assets had a balance of $2.7 billion as of June 30, 2025, an increase of $114.0 million from December 31, 2024. The increase resulted from $82.1 million in growth in cash and cash equivalents as of June 30, 2025 compared to December 31, 2024. The loans and leases portfolio increased $37.9 million over the same period. Asset growth was offset by a decrease of $11.4 million in the investment portfolio primarily due to the sale of $17.5 million in available-for-sale securities and $11.3 million in paydowns partially offset by $14.7 million in purchases of securities.

During the same time period, total liabilities increased $100.0 million, or 4%. Deposit growth of $94.5 million was utilized to fund loan growth and increase interest-bearing cash balances. For interest-bearing deposit accounts, the Company experienced increases of $37.2 million in money market deposits, $17.2 million in interest-bearing checking accounts, $14.4 million in time deposits, and $1.6 million in savings and clubs. The deposit growth is primarily driven by growth in existing account balances from the relationship building strategy along with targeted direct marketing campaigns driving new client acquisitions and active management of promotional and retention rates. Additionally, the Company experienced an increase of $24.1 million in non-interest-bearing checking accounts. As of June 30, 2025, the ratio of insured and collateralized deposits to total deposits was approximately 75%.

Shareholders’ equity increased $13.9 million, or 7%, to $217.9 million at June 30, 2025 from $204.0 million at December 31, 2024. The increase was caused by $8.3 million higher retained earnings from net income of $12.9 million plus a $4.9 million, after tax, improvement in accumulated other comprehensive income from lower net unrealized losses recorded on available-for-sale securities, partially offset by $4.7 million in cash dividends paid to shareholders. An additional $0.9 million was recorded from the issuance of common stock under the Company’s stock plans and stock-based compensation expense. At June 30, 2025, there were no credit losses on available-for-sale and held-to-maturity debt securities. Accumulated other comprehensive income (loss) is excluded from regulatory capital ratios. The Company remains well capitalized with Tier 1 capital at 9.16% of total average assets as of June 30, 2025. Total risk-based capital was 14.72% of risk-weighted assets and Tier 1 risk-based capital was 13.57% of risk-weighted assets as of June 30, 2025. Tangible book value per share was $34.25 at June 30, 2025 compared to $31.98 at December 31, 2024. Tangible common equity was 7.38% of total assets at June 30, 2025 compared to 7.16% at December 31, 2024.

Asset Quality

Total non-performing assets were $3.5 million, or 0.13% of total assets, at June 30, 2025, compared to $7.8 million, or 0.30% of total assets, at December 31, 2024. Past due and non-accrual loans to total loans were 0.41% at June 30, 2025 compared to 0.71% at December 31, 2024. Net charge-offs to average total loans were 0.05% at June 30, 2025 compared to 0.03% at December 31, 2024.

About Fidelity D & D Bancorp, Inc. and The Fidelity Deposit and Discount Bank

Fidelity D & D Bancorp, Inc. has built a strong history as trusted financial advisor to the clients served by The Fidelity Deposit and Discount Bank (“Fidelity Bank”). Fidelity Bank continues its mission of exceeding client expectations through a unique banking experience. It operates 21 full-service offices throughout Lackawanna, Luzerne, Lehigh and Northampton Counties and a Fidelity Bank Wealth Management Office in Schuylkill County. Fidelity Bank provides a digital banking experience online at www.bankatfidelity.com, through the Fidelity Mobile Banking app, and in the Client Care Center at 1-800-388-4380. Additionally, the Bank offers full-service Wealth Management & Brokerage Services, a Mortgage Center, and a full suite of personal and commercial banking products and services. Part of the Company’s vision is to serve as the best bank for the community, which was accomplished by having provided over 5,960 hours of volunteer time and over $1.3 million in donations to non-profit organizations directly within the markets served throughout 2024. Fidelity Bank’s deposits are insured by the Federal Deposit Insurance Corporation up to the full extent permitted by law.

Non-GAAP Financial Measures

The Company uses non-GAAP financial measures to provide information useful to the reader in understanding its operating performance and trends, and to facilitate comparisons with the performance of other financial institutions. Management uses these measures internally to assess and better understand our underlying business performance and trends related to core business activities. The Company’s non-GAAP financial measures and key performance indicators may differ from the non-GAAP financial measures and key performance indicators other financial institutions use to measure their performance and trends. Non-GAAP financial measures should be supplemental to GAAP used to prepare the Company’s operating results and should not be read in isolation or relied upon as a substitute for GAAP measures. Reconciliations of non-GAAP financial measures to GAAP are presented in the tables below.

Interest income was adjusted to recognize the income from tax exempt interest-earning assets as if the interest was taxable, fully-taxable equivalent (“FTE”), in order to calculate certain ratios within this document. This treatment allows a uniform comparison among yields on interest-earning assets. Interest income was FTE adjusted, using the corporate federal tax rate of 21% for 2025 and 2024.

Forward-looking statements

Certain of the matters discussed in this press release constitute forward-looking statements for purposes of the Securities Act of 1933, as amended, and the Securities Exchange Act of 1934, as amended, and as such may involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to be materially different from future results, performance or achievements expressed or implied by such forward-looking statements. The words “expect,” “anticipate,” “intend,” “plan,” “believe,” “estimate,” and similar expressions are intended to identify such forward-looking statements.

The Company’s actual results may differ materially from the results anticipated in these forward-looking statements due to a variety of factors, including, without limitation:

	■	local, regional and national economic conditions and changes thereto;
	■	the short-term and long-term effects of inflation, and rising costs to the Company, its customers and on the economy;
	■	the risks of changes and volatility of interest rates on the level and composition of deposits, loan demand, and the values of loan collateral, securities and interest rate protection agreements, as well as interest rate risks;
	■	securities markets and monetary fluctuations and volatility;
	■	disruption of credit and equity markets;
	■	impacts of the capital and liquidity requirements of the Basel III standards and other regulatory pronouncements, regulations and rules;
	■	governmental monetary and fiscal policies, as well as legislative and regulatory changes;
	■	effects of short- and long-term federal budget and tax negotiations and their effect on economic and business conditions;
	■	the costs and effects of litigation and of unexpected or adverse outcomes in such litigation;
	■	the impact of new or changes in existing laws and regulations, including laws and regulations concerning taxes, banking, securities and insurance and their application with which the Company and its subsidiaries must comply;
	■	the effect of changes in accounting policies and practices, as may be adopted by the regulatory agencies, as well as the Financial Accounting Standards Board and other accounting standard setters;
	■	the effects of competition from other commercial banks, thrifts, mortgage banking firms, consumer finance companies, credit unions, securities brokerage firms, insurance companies, money market and other mutual funds and other financial institutions operating in our market area and elsewhere, including institutions operating locally, regionally, nationally and internationally, together with such competitors offering banking products and services by mail, telephone, computer and the internet;
	■	the effects of economic conditions of any other pandemic, epidemic or other health-related crisis such as COVID-19 and responses thereto on current customers and the operations of the Company, specifically the effect of the economy on loan customers’ ability to repay loans;
	■	the effects of bank failures, banking system instability, deposit fluctuations, loan and securities value changes;
	■	technological changes;
	■	the interruption or breach in security of our information systems, continually evolving cybersecurity and other technological risks and attacks resulting in failures or disruptions in customer account management, general ledger processing and loan or deposit updates and potential impacts resulting therefrom including additional costs, reputational damage, regulatory penalties, and financial losses;
	■	acquisitions and integration of acquired businesses;
	■	the failure of assumptions underlying the establishment of reserves for loan losses and estimations of values of collateral and various financial assets and liabilities;
	■	acts of war or terrorism; and
	■	the risk that our analyses of these risks and forces could be incorrect and/or that the strategies developed to address them could be unsuccessful.

The Company cautions readers not to place undue reliance on forward-looking statements, which reflect analyses only as of the date of this release. The Company has no obligation to update any forward-looking statements to reflect events or circumstances after the date of this release.

For more information please visit our investor relations web site located through www.bankatfidelity.com.

FIDELITY D & D BANCORP, INC. Unaudited Condensed Consolidated Balance Sheets (dollars in thousands)
At Period End:	June 30, 2025			December 31, 2024
Assets
Cash and cash equivalents	$	165,495		$	83,353
Investment securities		545,821			557,221
Restricted investments in bank stock		4,240			3,961
Loans and leases		1,837,477			1,800,856
Allowance for credit losses on loans		(19,976	)		(19,666	)
Premises and equipment, net		40,097			35,914
Life insurance cash surrender value		58,849			58,069
Goodwill and core deposit intangible		20,364			20,504
Other assets		46,208			44,404

Total assets	$	2,698,575		$	2,584,616

Liabilities
Non-interest-bearing deposits	$	558,074		$	533,935
Interest-bearing deposits		1,877,254			1,806,885
Total deposits		2,435,328			2,340,820
Short-term borrowings		10			–
Secured borrowings		6,134			6,266
Other liabilities		39,191			33,561
Total liabilities		2,480,663			2,380,647

Shareholders’ equity		217,912			203,969

Total liabilities and shareholders’ equity	$	2,698,575		$	2,584,616

Average Year-To-Date Balances:	June 30, 2025			December 31, 2024
Assets
Cash and cash equivalents	$	129,527		$	55,773
Investment securities		551,906			557,537
Restricted investments in bank stock		4,066			3,960
Loans and leases		1,822,654			1,741,349
Allowance for credit losses on loans		(20,189	)		(19,391	)
Premises and equipment, net		35,839			35,580
Life insurance cash surrender value		58,503			56,455
Goodwill and core deposit intangible		20,423			20,641
Other assets		42,950			41,755

Total assets	$	2,645,679		$	2,493,659

Liabilities
Non-interest-bearing deposits	$	540,320		$	527,825
Interest-bearing deposits		1,852,895			1,697,529
Total deposits		2,393,215			2,225,354
Short-term borrowings		16			32,446
Secured borrowings		6,194			6,830
Other liabilities		35,497			32,471
Total liabilities		2,434,922			2,297,101

Shareholders’ equity		210,757			196,558

Total liabilities and shareholders’ equity	$	2,645,679		$	2,493,659

FIDELITY D & D BANCORP, INC. Unaudited Condensed Consolidated Statements of Income (dollars in thousands)
	Three Months Ended						Six Months Ended
	Jun. 30, 2025			Jun. 30, 2024			Jun. 30, 2025			Jun. 30, 2024
Interest income
Loans and leases	$	25,328		$	22,516		$	49,924		$	44,649
Securities and other		4,437			3,523			8,149			7,016

Total interest income		29,765			26,039			58,073			51,665

Interest expense
Deposits		(11,738	)		(10,459	)		(22,925	)		(20,400	)
Borrowings and debt		(98	)		(463	)		(186	)		(1,204	)

Total interest expense		(11,836	)		(10,922	)		(23,111	)		(21,604	)

Net interest income		17,929			15,117			34,962			30,061

Provision for credit losses on loans		(300	)		(275	)		(755	)		(400	)
Net (provision) benefit for credit losses on unfunded loan commitments		(20	)		(140	)		65			(90	)
Non-interest income		5,359			4,615			10,332			9,188
Non-interest expense		(14,710	)		(13,616	)		(29,264	)		(27,306	)

Income before income taxes		8,258			5,701			15,340			11,453

Provision for income taxes		(1,337	)		(766	)		(2,428	)		(1,460	)
Net income	$	6,921		$	4,935		$	12,912		$	9,993

	Three Months Ended
	Jun. 30, 2025			Mar. 31, 2025			Dec. 31, 2024			Sep. 30, 2024			Jun. 30, 2024
Interest income
Loans and leases	$	25,328		$	24,596		$	24,584		$	24,036		$	22,516
Securities and other		4,437			3,712			3,475			3,263			3,523

Total interest income		29,765			28,308			28,059			27,299			26,039

Interest expense
Deposits		(11,738	)		(11,187	)		(11,468	)		(11,297	)		(10,459	)
Borrowings and debt		(98	)		(88	)		(217	)		(571	)		(463	)

Total interest expense		(11,836	)		(11,275	)		(11,685	)		(11,868	)		(10,922	)

Net interest income		17,929			17,033			16,374			15,431			15,117

Provision for credit losses on loans		(300	)		(455	)		(250	)		(675	)		(275	)
Net benefit (provision) for credit losses on unfunded loan commitments		(20	)		85			85			(135	)		(140	)
Non-interest income		5,359			4,973			4,847			4,979			4,615
Non-interest expense		(14,710	)		(14,554	)		(14,395	)		(13,840	)		(13,616	)

Income before income taxes		8,258			7,082			6,661			5,760			5,701

Provision for income taxes		(1,337	)		(1,091	)		(826	)		(793	)		(766	)
Net income	$	6,921		$	5,991		$	5,835		$	4,967		$	4,935

FIDELITY D & D BANCORP, INC. Unaudited Condensed Consolidated Balance Sheets (dollars in thousands)
At Period End:	Jun. 30, 2025			Mar. 31, 2025			Dec. 31, 2024			Sep. 30, 2024			Jun. 30, 2024
Assets
Cash and cash equivalents	$	165,495		$	211,195		$	83,353		$	120,169		$	78,085
Investment securities		545,821			540,960			557,221			559,819			552,495
Restricted investments in bank stock		4,240			4,021			3,961			3,944			3,968
Loans and leases		1,837,477			1,817,509			1,800,856			1,795,548			1,728,509
Allowance for credit losses on loans		(19,976	)		(20,017	)		(19,666	)		(19,630	)		(18,975	)
Premises and equipment, net		40,097			34,995			35,914			36,057			35,808
Life insurance cash surrender value		58,849			58,458			58,069			57,672			57,278
Goodwill and core deposit intangible		20,364			20,431			20,504			20,576			20,649
Other assets		46,208			43,758			44,404			41,778			42,828

Total assets	$	2,698,575		$	2,711,310		$	2,584,616		$	2,615,933		$	2,500,645

Liabilities
Non-interest-bearing deposits	$	558,074		$	555,684		$	533,935		$	549,710		$	527,572
Interest-bearing deposits		1,877,254			1,901,775			1,806,885			1,792,796			1,641,558
Total deposits		2,435,328			2,457,459			2,340,820			2,342,506			2,169,130
Short-term borrowings		10			10			–			25,000			98,120
Secured borrowings		6,134			6,190			6,266			6,323			7,237
Other liabilities		39,191			35,977			33,561			34,843			30,466
Total liabilities		2,480,663			2,499,636			2,380,647			2,408,672			2,304,953

Shareholders’ equity		217,912			211,674			203,969			207,261			195,692

Total liabilities and shareholders’ equity	$	2,698,575		$	2,711,310		$	2,584,616		$	2,615,933		$	2,500,645

Average Quarterly Balances:	Jun. 30, 2025			Mar. 31, 2025			Dec. 31, 2024			Sep. 30, 2024			Jun. 30, 2024
Assets
Cash and cash equivalents	$	161,316		$	97,384		$	67,882		$	41,991		$	58,351
Investment securities		546,149			557,726			560,453			554,578			551,445
Restricted investments in bank stock		4,158			3,973			3,957			3,965			3,983
Loans and leases		1,832,162			1,813,040			1,797,023			1,763,254			1,707,598
Allowance for credit losses on loans		(20,357	)		(20,019	)		(20,050	)		(19,323	)		(19,171	)
Premises and equipment, net		35,954			35,722			36,065			36,219			35,433
Life insurance cash surrender value		58,697			58,307			57,919			57,525			55,552
Goodwill and core deposit intangible		20,386			20,459			20,529			20,602			20,677
Other assets		42,729			43,177			41,454			41,734			42,960

Total assets	$	2,681,194		$	2,609,769		$	2,565,232		$	2,500,545		$	2,456,828

Liabilities
Non-interest-bearing deposits	$	547,278		$	533,286		$	538,506		$	522,827		$	530,048
Interest-bearing deposits		1,878,548			1,826,957			1,769,265			1,702,187			1,670,211
Total deposits		2,425,826			2,360,243			2,307,771			2,225,014			2,200,259
Short-term borrowings		10			22			10,326			37,220			28,477
Secured borrowings		6,162			6,226			6,297			6,429			7,269
Other liabilities		36,050			34,937			34,695			31,999			30,734
Total liabilities		2,468,048			2,401,428			2,359,089			2,300,662			2,266,739

Shareholders’ equity		213,146			208,341			206,143			199,883			190,089

Total liabilities and shareholders’ equity	$	2,681,194		$	2,609,769		$	2,565,232		$	2,500,545		$	2,456,828

FIDELITY D & D BANCORP, INC. Selected Financial Ratios and Other Financial Data
	Three Months Ended
	Jun. 30, 2025			Mar. 31, 2025			Dec. 31, 2024			Sep. 30, 2024			Jun. 30, 2024
Selected returns and financial ratios
Basic earnings per share	$	1.20		$	1.04		$	1.02		$	0.87		$	0.86
Diluted earnings per share	$	1.20		$	1.03		$	1.01		$	0.86		$	0.86
Dividends per share	$	0.40		$	0.40		$	0.40		$	0.38		$	0.38
Yield on interest-earning assets (FTE)*		4.77	%		4.73	%		4.68	%		4.68	%		4.58	%
Cost of interest-bearing liabilities		2.52	%		2.49	%		2.60	%		2.70	%		2.58	%
Cost of funds		1.95	%		1.93	%		2.00	%		2.08	%		1.96	%
Net interest spread (FTE)*		2.25	%		2.24	%		2.08	%		1.98	%		2.00	%
Net interest margin (FTE)*		2.92	%		2.89	%		2.78	%		2.70	%		2.71	%
Return on average assets		1.04	%		0.93	%		0.90	%		0.79	%		0.81	%
Pre-provision net revenue to average assets*		1.28	%		1.16	%		1.06	%		1.05	%		1.00	%
Return on average equity		13.02	%		11.66	%		11.26	%		9.89	%		10.44	%
Return on average tangible equity*		14.40	%		12.93	%		12.50	%		11.02	%		11.72	%
Efficiency ratio (FTE)*		61.17	%		61.67	%		65.48	%		65.33	%		66.47	%
Expense ratio		1.40	%		1.37	%		1.48	%		1.41	%		1.47	%

	Six months ended
	Jun. 30, 2025			Jun. 30, 2024
Basic earnings per share	$	2.24		$	1.74
Diluted earnings per share	$	2.23		$	1.73
Dividends per share	$	0.80		$	0.76
Yield on interest-earning assets (FTE)*		4.75	%		4.55	%
Cost of interest-bearing liabilities		2.51	%		2.54	%
Cost of funds		1.94	%		1.95	%
Net interest spread (FTE)*		2.24	%		2.01	%
Net interest margin (FTE)*		2.91	%		2.70	%
Return on average assets		0.98	%		0.82	%
Pre-provision net revenue to average assets*		1.22	%		0.98	%
Return on average equity		12.35	%		10.57	%
Return on average tangible equity*		13.68	%		11.87	%
Efficiency ratio (FTE)*		61.42	%		67.01	%
Expense ratio		1.38	%		1.49	%

Other financial data	At period end:
(dollars in thousands except per share data)	Jun. 30, 2025			Mar. 31, 2025			Dec. 31, 2024			Sep. 30, 2024			Jun. 30, 2024
Assets under management	$	1,030,268		$	955,647		$	921,994		$	942,190		$	906,861
Book value per share	$	37.78		$	36.70		$	35.56		$	36.13		$	34.12
Tangible book value per share*	$	34.25		$	33.16		$	31.98		$	32.55		$	30.52
Equity to assets		8.08	%		7.81	%		7.89	%		7.92	%		7.83	%
Tangible common equity ratio*		7.38	%		7.11	%		7.16	%		7.19	%		7.06	%
Allowance for credit losses on loans to:
Total loans		1.09	%		1.10	%		1.09	%		1.09	%		1.10	%
Non-accrual loans	6.50x			3.36x			2.68x			2.77x			2.75x
Non-accrual loans to total loans		0.17	%		0.33	%		0.41	%		0.39	%		0.40	%
Non-performing assets to total assets		0.13	%		0.23	%		0.30	%		0.29	%		0.28	%
Net charge-offs to average total loans		0.05	%		0.02	%		0.03	%		0.02	%		0.03	%

Capital Adequacy Ratios
Total risk-based capital ratio		14.72	%		14.74	%		14.78	%		14.56	%		14.69	%
Common equity tier 1 risk-based capital ratio		13.57	%		13.57	%		13.60	%		13.38	%		13.52	%
Tier 1 risk-based capital ratio		13.57	%		13.57	%		13.60	%		13.38	%		13.52	%
Leverage ratio		9.16	%		9.22	%		9.22	%		9.30	%		9.30	%

* Non-GAAP Financial Measures – see reconciliations below

FIDELITY D & D BANCORP, INC. Reconciliations of Non-GAAP Financial Measures to GAAP
Reconciliations of Non-GAAP Measures to GAAP	Three Months Ended
(dollars in thousands)	Jun. 30, 2025			Mar. 31, 2025			Dec. 31, 2024			Sep. 30, 2024			Jun. 30, 2024
FTE net interest income (non-GAAP)
Interest income (GAAP)	$	29,765		$	28,308		$	28,059		$	27,299		$	26,039
Adjustment to FTE		760			771			764			775			751
Interest income adjusted to FTE (non-GAAP)		30,525			29,079			28,823			28,074			26,790
Interest expense (GAAP)		11,836			11,275			11,685			11,868			10,922
Net interest income adjusted to FTE (non-GAAP)	$	18,689		$	17,804		$	17,138		$	16,206		$	15,868

Efficiency Ratio (non-GAAP)
Non-interest expenses (GAAP)	$	14,710		$	14,554		$	14,395		$	13,840		$	13,616

Net interest income (GAAP)		17,929			17,033			16,374			15,431			15,117
Plus: taxable equivalent adjustment		760			771			764			775			751
Non-interest income (GAAP)		5,359			4,973			4,847			4,979			4,615
Plus: Loss on sales of securities		–			822			–			–			–
Net interest income (FTE) plus adjusted non-interest income (non-GAAP)	$	24,048		$	23,599		$	21,985		$	21,185		$	20,483
Efficiency ratio (non-GAAP) (1)		61.17	%		61.67	%		65.47	%		65.33	%		66.48	%
(1) The reported efficiency ratio is a non-GAAP measure calculated by dividing non-interest expense by the sum of net interest income, on an FTE basis, and adjusted non-interest income.

Tangible Book Value per Share/Tangible Common Equity Ratio (non-GAAP)
Total assets (GAAP)	$	2,698,575		$	2,711,310		$	2,584,616		$	2,615,933		$	2,500,645
Less: Intangible assets		(20,364	)		(20,431	)		(20,504	)		(20,576	)		(20,649	)
Tangible assets		2,678,211			2,690,879			2,564,112			2,595,357			2,479,996
Total shareholders’ equity (GAAP)		217,912			211,674			203,969			207,261			195,692
Less: Intangible assets		(20,364	)		(20,431	)		(20,504	)		(20,576	)		(20,649	)
Tangible common equity		197,548			191,243			183,465			186,685			175,043

Common shares outstanding, end of period		5,767,490			5,767,500			5,736,252			5,736,025			5,735,728
Tangible Common Book Value per Share	$	34.25		$	33.16		$	31.98		$	32.55		$	30.52
Tangible Common Equity Ratio		7.38	%		7.11	%		7.16	%		7.19	%		7.06	%

Pre-Provision Net Revenue to Average Assets
Income before taxes (GAAP)	$	8,258		$	7,082		$	6,661		$	5,760		$	5,701
Plus: Provision for credit losses		320			370			165			810			415
Total pre-provision net revenue (non-GAAP)		8,578			7,452			6,826			6,570			6,116
Total (annualized) (non-GAAP)	$	34,404		$	30,220		$	27,157		$	26,423		$	24,600

Average assets	$	2,681,194		$	2,609,769		$	2,565,232		$	2,500,545		$	2,456,828
Pre-Provision Net Revenue to Average Assets (non-GAAP)		1.28	%		1.16	%		1.06	%		1.05	%		1.00	%

Reconciliations of Non-GAAP Measures to GAAP	Six months ended
(dollars in thousands)	Jun. 30, 2025			Jun. 30, 2024
FTE net interest income (non-GAAP)
Interest income (GAAP)	$	58,073		$	51,665
Adjustment to FTE		1,531			1,497
Interest income adjusted to FTE (non-GAAP)		59,604			53,162
Interest expense (GAAP)		23,111			21,604
Net interest income adjusted to FTE (non-GAAP)	$	36,493			31,558

Efficiency Ratio (non-GAAP)
Non-interest expenses (GAAP)	$	29,264		$	27,306

Net interest income (GAAP)		34,962			30,061
Plus: taxable equivalent adjustment		1,531			1,497
Non-interest income (GAAP)		10,332			9,188
Plus: Loss on sales of securities		822			–
Net interest income (FTE) plus non-interest income (non-GAAP)	$	47,647		$	40,746
Efficiency ratio (non-GAAP) (1)		61.42	%		67.01	%
(1) The reported efficiency ratio is a non-GAAP measure calculated by dividing non-interest expense by the sum of net interest income, on an FTE basis, and adjusted non-interest (loss) income.

Pre-Provision Net Revenue to Average Assets
Income before taxes (GAAP)	$	15,340		$	11,453
Plus: Provision for credit losses		690			490
Total pre-provision net revenue (non-GAAP)	$	16,030		$	11,943
Total (annualized) (non-GAAP)	$	32,326		$	23,951

Average assets	$	2,645,679		$	2,453,998
Pre-Provision Net Revenue to Average Assets (non-GAAP)		1.22	%		0.98	%


Contacts:
Daniel J. Santaniello	Salvatore R. DeFrancesco, Jr.
President and Chief Executive Officer	Treasurer and Chief Financial Officer
570-504-8035	570-504-8000

The MIL Network –

July 23, 2025

MIL-OSI: Next Hydrogen Announces Aggregate of $1.5 million in Loans and Provides Corporate Update

Source: GlobeNewswire (MIL-OSI)

MISSISSAUGA, Ontario, July 23, 2025 (GLOBE NEWSWIRE) — Next Hydrogen Solutions Inc. (the “Company” or “Next Hydrogen”) (TSXV:NXH, OTC:NXHSF), is pleased to announce that it is entering into a loan agreement with certain existing directors and officers of the Company (the “Lenders”) providing for the advance of an unsecured loan (the “Loan”) bearing interest at 5.0% per annum in the principal amount of $530,000. The Loan shall mature on the date that is one year from the advance of the Loan (the “Maturity Date”). In conjunction with the advance of the Loan, the Company will also pay a set-up fee of $20,000 to the Lenders.

The advance of the Loan is expected to take place on July 23, 2025, immediately prior to the advance of a $1 million loan from an arm’s length commercial lender (the “Original Loan”) that is being negotiated between the Company and such lender. There can be no assurances that the Original Loan will be completed as proposed or at all.

In consideration of the advance of the Loan by the Lenders, the Company shall, subject to the approval of the TSX Venture Exchange (the “TSXV”) in accordance with the policies of the TSXV, issue to the Lenders, an aggregate of 214,140 common shares of the Company (“Common Shares”) at a deemed price of $0.495 per share as bonus shares (the “Loan Bonus Shares”), representing approximately 20% of the principal amount of the Loan, subject to adjustment in accordance with the policies of the TSXV.

In addition, subject to the approval of the TSXV in accordance with the policies of the TSXV, the Loan may be converted into Common Shares (the “Conversion Shares”) at the option of the Company, in whole or in part, on the earlier of the Maturity Date or the closing of an offering of equity securities of the Company.

Next Hydrogen intends to use the proceeds of the Loan and the Original Loan for working capital and general corporate purposes. The Loan and the Original Loan will assist the Company in bridging its financial position in order to keep its talented team and continue operations while it evaluates longer term financial and strategic solutions.

In conducting its review of financial and strategic solutions, the Company’s board and management team are committed to acting in the best interests of the Company, its shareholders and its stakeholders. There is no deadline or definitive timetable for the completion of the review of financial and strategic solutions, and the Company does not intend to comment further unless the Company’s board has approved a specific transaction or otherwise determined that disclosure is necessary or appropriate. There can be no assurances that the review will result in any specific transaction or outcome.

This issuance of the Loan Bonus Shares and the Conversion Shares, if applicable, are subject to receipt of all required regulatory approvals, including that of the TSXV. The TSXV has in no way passed upon the merits of the Loan or the Original Loan and has neither approved nor disapproved the contents of this press release.

All moneys quoted in this press release shall be stated and paid in the lawful money of Canada.

The Company also advises that the last day of trading of the Common Shares on the OTCQX will be Thursday, July 24, 2025.

The Lenders consist of Allan MacKenzie, Anthony Guglielmin, Adarsh Mehta, Jens Peter Clausen, Susan Uthayakumar and Walter Howard, each a director of the Company, Raveel Afzaal, the Chief Executive Officer and a director of the Company and Rohan Advani, the Chief Financial Officer of the Company. Each Lender is an Insider of the Company (as such term is defined under the policies of the TSXV) and the participation of Insiders in the Loan would constitute a “related party transaction” within the meaning of Multilateral Instrument 61-101 – Protection of Minority Security Holders in Special Transactions (“MI 61-101”). The Company is relying on exemptions from the formal valuation requirements of MI 61-101 pursuant to section 5.5(b) as the Company is not listed on a specified market and the minority shareholder approval requirements of MI 61-101 pursuant to section 5.7(1)(b), based on a determination that the fair market value of the Loan, insofar as it involves the related parties, will not exceed $2,500,000. The Company did not file a material change report 21 days prior to the expected closing date of the Loan as closing occurred on an expedited basis. An aggregate of 214,140 Loan Bonus Shares will be issued to the Lenders which in the aggregate represents less than 1.0% of the issued and outstanding Common Shares.

About Next Hydrogen

Founded in 2007, Next Hydrogen is a designer and manufacturer of electrolyzers that use water and electricity as inputs to generate clean hydrogen for use as an energy source. Next Hydrogen’s unique cell design architecture supported by 40 patents enables high current density operations and superior dynamic response to efficiently convert intermittent renewable electricity into green hydrogen on an infrastructure scale. Following successful pilots, Next Hydrogen is scaling up its technology to deliver commercial solutions to decarbonize transportation and industrial sectors.

Contact Information

Raveel Afzaal, President and Chief Executive Officer
Next Hydrogen Solutions Inc.
Email: rafzaal@nexthydrogen.com
Phone: 647-961-6620

www.nexthydrogen.com

Neither the TSXV nor its Regulation Services Provider (as that term is defined in the policies of the TSXV) accepts responsibility for the adequacy or accuracy of this release.

Cautionary Statements

This news release contains “forward-looking information” and “forward-looking statements”. All statements, other than statements of historical fact, are forward-looking statements and are based on expectations, estimates and projections as at the date of this news release. Any statement that involves discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions, future events or performance (often but not always using phrases such as “expects”, or “does not expect”, “is expected”, “anticipates” or “does not anticipate”, “plans”, “budget”, “scheduled”, “forecasts”, “estimates”, “believes”, or “intends” or variations of such words and phrases or stating that certain actions, events or results “may” or “could”, “would”, “might” or “will” be taken to occur or be achieved) are not statements of historical fact and may be forward-looking statements. Forward-looking statements are necessarily based upon a number of estimates and assumptions that, while considered reasonable, are subject to known and unknown risks, uncertainties, and other factors which may cause the actual results and future events to differ materially from those expressed or implied by such forward-looking statements. Such factors include, but are not limited to: the risk that the Loan and the Original Loan will not be completed as planned or at all; changes to the use of proceeds of the Loan and the Original Loan, risks associated with the pursuit of any financial or strategic transaction or the completion thereof, the risks associated with the hydrogen industry in general; delays or changes in plans with respect to infrastructure development or capital expenditures; uncertainty with respect to the timing of any contemplated transactions or partnerships, or whether such contemplated transactions or partnerships will be completed at all; the timing for any submissions or correspondences with applicable securities laws regulators; whether the uncertainty of estimates and projections relating to costs and expenses; failure to obtain timely necessary regulatory approvals and all required TSXV approvals; health, safety and environmental risks; uncertainties resulting from potential delays or changes in plans with respect to infrastructure developments or capital expenditures; currency exchange rate fluctuations; as well as general economic conditions, stock market volatility; and the ability to access sufficient capital. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on the forward-looking statements and information contained in this news release. Except as required by law, there will be no obligation to update the forward-looking statements of beliefs, opinions, projections, or other factors, should they change.

The MIL Network –

July 23, 2025
MIL-OSI: Bitget Partners with KOL to Drive Blockchain and AI Growth in Southeast Asia

Source: GlobeNewswire (MIL-OSI)

KUALA LUMPUR, Malaysia, July 23, 2025 (GLOBE NEWSWIRE) — Bitget, the world’s leading cryptocurrency exchange and Web3 company, partnered with Indian crypto thought leader Pushpendra Singh to support a landmark Blockchain & AI Summit in Southeast Asia—further strengthening its role as a global enabler of the decentralized tech ecosystem.

The summit was organized in collaboration with the Consortium of Indian Industries in Malaysia (CIIM). It brought together builders, investors, and leaders from India, South Asia, the Middle East, Singapore, China, and beyond, establishing Malaysia as an up-and-coming regional hub for blockchain and AI collaboration. The event included keynotes, panel discussions, and interactive sessions aimed at promoting innovation and the responsible adoption of Web3 technologies.

“Having a prominent Indian KOL like Pushpendra lead a Blockchain and AI Summit in Malaysia highlights the global and collaborative nature of this industry. At Bitget, our mission is to empower and scale these ecosystems wherever they develop,” said Jyotsna Hirdyani, South Asia Head at Bitget.

Bitget KOL Pushpendra Singh taking the stage at the Blockchain & AI Summit

Pushpendra expressed a similar viewpoint, emphasizing that Malaysia’s rising status as a premier destination for both technology and tourism makes it an ideal location for a globally diverse gathering. “This event wasn’t solely focused on Web3; it was also about uniting various voices under one shared vision. Malaysia is quickly becoming a hub where innovation meets opportunity, and we take pride in working to help shape that narrative,” he shared.

The partnership shows Bitget’s continued efforts to advance inclusivity, education, and grassroots leadership in nascent cryptocurrency communities. One region, one builder, and one summit at a time, Bitget is dedicated to offering the platforms, tools, and collaborations that propel the industry forward as blockchain and AI continue to converge.

About Bitget

Established in 2018, Bitget is the world’s leading cryptocurrency exchange and Web3 company. Serving over 120 million users in 150+ countries and regions, the Bitget exchange is committed to helping users trade smarter with its pioneering copy trading feature and other trading solutions, while offering real-time access to Bitcoin price, Ethereum price, and other cryptocurrency prices. Formerly known as BitKeep, Bitget Wallet is a leading non-custodial crypto wallet supporting 130+ blockchains and millions of tokens. It offers multi-chain trading, staking, payments, and direct access to 20,000+ DApps, with advanced swaps and market insights built into a single platform.
Bitget is driving crypto adoption through strategic partnerships, such as its role as the Official Crypto Partner of the World’s Top Football League, LALIGA, in EASTERN, SEA and LATAM markets, as well as a global partner of Turkish National athletes Buse Tosun Çavuşoğlu (Wrestling world champion), Samet Gümüş (Boxing gold medalist) and İlkin Aydın (Volleyball national team), to inspire the global community to embrace the future of cryptocurrency.

Aligned with its global impact strategy, Bitget has joined hands with UNICEF to support blockchain education for 1.1 million people by 2027. In the world of motorsports, Bitget is the exclusive cryptocurrency exchange partner of MotoGP™, one of the world’s most thrilling championships.

For more information, visit: Website | Twitter | Telegram | LinkedIn | Discord | Bitget Wallet

For media inquiries, please contact: media@bitget.com

Risk Warning: Digital asset prices are subject to fluctuation and may experience significant volatility. Investors are advised to only allocate funds they can afford to lose. The value of any investment may be impacted, and there is a possibility that financial objectives may not be met, nor the principal investment recovered. Independent financial advice should always be sought, and personal financial experience and standing carefully considered. Past performance is not a reliable indicator of future results. Bitget accepts no liability for any potential losses incurred. Nothing contained herein should be construed as financial advice. For further information, please refer to our Terms of Use.

Photos accompanying this announcement are available at

https://www.globenewswire.com/NewsRoom/AttachmentNg/64aba109-89d5-46a4-a8b1-ccef7eb91ad5

https://www.globenewswire.com/NewsRoom/AttachmentNg/695b5285-5250-427c-9886-20d016670456

The MIL Network –

July 23, 2025
MIL-OSI: Waldencast Acquires Novaestiq Corp. and U.S. Rights to Leading Injectable Hyaluronic Acid Gel Line, Saypha®, Under the Obagi Medical Brand

Source: GlobeNewswire (MIL-OSI)

Acquisition strengthens Obagi Medical’s product portfolio with proven, scientifically backed, injectable portfolio

New products position Obagi Medical at the forefront of health, beauty and aesthetics convergence

LONDON, July 23, 2025 (GLOBE NEWSWIRE) — Waldencast plc (NASDAQ: WALD) (“Waldencast”), a global multi-brand beauty and wellness platform, today announced that it has acquired Novaestiq Corp. (Novaestiq), a growth-oriented aesthetic and medical dermatological innovations company, as well as the U.S. rights to the Saypha^® line of hyaluronic acid (HA) injectable gels. The strategic acquisition expands Obagi Medical’s offerings beyond U.S. medical-grade skincare, a market projected to be $2.2 billion by 2029, into the growing U.S. dermal filler market, projected to reach $2 billion in market size by 2029, effectively doubling its addressable market.¹ The move marks a pivotal step in positioning Obagi Medical as an industry leader in integrated skincare and aesthetic solutions.

“We are excited to further diversify Obagi Medical’s portfolio of medical-grade skincare with consumer centric, in-office injectable procedures through the introduction of the Obagi Medical Saypha^® ChIQ™ and MagIQ™ lines of injectable HA gels,” said Michel Brousset, Co-Founder and CEO of Waldencast. “Adding proven products into our portfolio increases our addressable market and allows us to deliver solutions for professionals and patients seeking both skincare and aesthetic treatments, all under the trusted Obagi Medical brand.”

Obagi Medical’s philosophy advocates for a holistic, science-driven approach where potent skincare and professional procedures work in tandem to achieve and maintain optimal skin health and a youthful appearance. These injectable products will play a pivotal role in the evolution of Obagi Medical into an end-to-end, synergistic solution that integrates medical-grade skincare with aesthetic treatments to deliver enhanced outcomes, prolonged results, and greater patient satisfaction. Beyond the two current offerings, the Novaestiq transaction provides access to a future pipeline of novel injectables in North America.

Saypha^®,² currently undergoing U.S. Food and Drug Administration (FDA) approval, is recognized globally as a proven, safe and efficacious HA injectable with high levels of patient satisfaction. The new Obagi Medical injectable portfolio is supported by an industry-leading clinical program that reflects the brand’s commitment to science-backed innovation. Core pivotal studies are more than twice the size of typical nasolabial fold (NLF) and midface trials and include the highest representation of Fitzpatrick Skin Types I, V, and VI – underscoring Obagi Medical’s mission to provide effective solutions for all skin types and tones.

Saypha^® is distinguished by its proprietary technology delivering advanced HA treatments through a stable 3D matrix designed to provide natural-looking results with optimally balanced gel characteristics. This technology powers a portfolio of clinically proven products that lead in multiple performance categories including high HA content at injection, ideal gel distribution, and consistent injection force and swelling behavior. Saypha^®, a product of Croma-Pharma GmbH, is developed and manufactured in Austria and marketed in over 80 countries, leveraging 40 years of expertise in HA-based treatments with more than 110 million syringes produced. This global reach and deep market insight allow for the delivery of trusted, personalized care to patients and professionals worldwide.

“We believe that great results start with great skincare and are perfected with great after care,” said Dr. Suzan Obagi, Chief Medical Director at Obagi Medical. “By combining Obagi Medical skincare with injectable procedures under the guidance of a qualified professional, patients can achieve more significant, longer-lasting, and natural-looking results. This acquisition also allows our professionals to offer patients more personalized, higher quality and safer products that their customers are looking for.”

Obagi Medical’s vision is to become the #1 Dermatological Mega Brand uniquely serving all the needs of physicians, patients and consumers globally. It is already the fastest-growing U.S. professional-skincare brand among the top ten in its category.³ This momentum is powered by a three-pronged strategy: anchoring products in dermatological science, introducing breakthrough innovations, and expanding its global reach.

Brousset added, “We are thrilled to introduce this new offering that will strengthen Obagi Medical’s market position, drive innovation, and create new growth opportunities in our fast-evolving industry. We see an accelerating global convergence of health, beauty, and aesthetics – an intersection where Obagi Medical is uniquely positioned to lead. We also plan to leverage this acquisition to expand Obagi Medical’s footprint.”

Transaction Details
Under the terms of the definitive agreement relating to the transaction, Waldencast has agreed to acquire Novaestiq in exchange for (1) certain amount of cash payable at closing, (2) certain additional ongoing royalties based on net sales of Saypha^® products, and (3) the contingent issuance of Waldencast class A shares (equal to approximately 7% of Waldencast’s fully diluted class A shares), based on the receipt of FDA approval relating to the Saypha^® products (triggering the issuance of 3,273,000 Waldencast class A shares) and the achievement of cumulative net revenue thresholds of (a) $100 million (triggering the issuance of an additional 3,273,000 Waldencast class A shares) and (b) $200 million (triggering the further issuance of 3,273,000 Waldencast class A shares), respectively, reflecting meaningful long-term commercial targets, with (a) and (b) being earnable until June 20, 2031. The details of the transaction will be summarized in more detail in a Form 6-K that Waldencast will file with the U.S. Securities and Exchange Commission (the “SEC”) following this press release.

About Waldencast
Founded by Michel Brousset and Hind Sebti, Waldencast’s ambition is to build a global best-in-class beauty and wellness operating platform by developing, acquiring, accelerating, and scaling conscious, high-growth purpose-driven brands. Waldencast’s vision is fundamentally underpinned by its brand-led business model that ensures proximity to its customers, business agility, and market responsiveness, while maintaining each brand’s distinct DNA. The first step in realizing its vision was the business combination with Obagi Medical and Milk Makeup. As part of the Waldencast platform, its brands will benefit from the operational scale of a multi-brand platform; the expertise in managing global beauty brands at scale; a balanced portfolio to mitigate category fluctuations; asset light efficiency; and the market responsiveness and speed of entrepreneurial indie brands. For more information please visit: https://ir.waldencast.com/.

About Obagi Medical
Obagi Medical is an industry-leading, advanced skincare line rooted in research and skin biology, with a legacy of 35+ years of experience. Initially known for its leadership in the treatment of hyperpigmentation with the Obagi Nu-Derm^® System, Obagi Medical products are designed to address a variety of skin concerns, including premature aging, photodamage, skin discoloration, acne, and sun damage. As the fastest-growing professional skincare brand in the U.S. in 2024,³ Obagi Medical empowers individuals to achieve healthy, beautiful skin. More information about Obagi is available on the brand’s website, https://www.obagi.com.

¹In preparing for this transaction, Waldencast engaged management consulting services from a reputed global consulting firm. ²Saypha^® products are not approved medical devices, and each product has a premarket approval (PMA) application under review by the FDA. ³Among the Top 10 Professional Skin Care Brands in the U.S., according to Kline’s 2024 Global Professional Skin Care Series (China, Europe and the U.S.).

Advisors
Holland & Knight LLP is serving as Waldencast’s legal advisor, with support from Skadden, Arps, Slate, Meagher & Flom LLP. Experium Capital Advisers is serving as Waldencast’s financial advisor.

Forward-Looking Statements
This press release contains certain forward-looking statements within the meaning of the federal securities laws, including statements regarding the intended benefits of the transaction with Novaestiq, the ability to obtain FDA approval for Saypha^®, the contingent issuance of Waldencast class A shares, and the growth strategies of Waldencast, including Obagi Medical and Novaestiq. These forward-looking statements generally are identified by the words “estimates,” “projects,” “expects,” “anticipates,” “forecasts,” “plans,” “intends,” “believes,” “seeks,” “may,” “will,” “would,” “should,” “future,” “propose,” “target,” “goal,” “objective,” “outlook” and variations of these words or similar expressions (or the negative versions of such words or expressions) are intended to identify forward-looking statements. These forward-looking statements are not guarantees of future performance, conditions or results, and involve a number of known and unknown risks, uncertainties, assumptions and other important factors, many of which are outside the control of Waldencast, Obagi Medical and Novaestiq that could cause actual results or outcomes to differ materially from those discussed in the forward-looking statements. Important factors, among others, that may affect actual results or outcomes include, but are not limited to: (i) the inability to recognize the anticipated benefits of the transaction; (ii) the inability to obtain FDA approval for one or both of the Saypha^® products; (iii) the general impact of geopolitical events, including the impact of current wars, conflicts and other hostilities; (iv) the overall economic and market conditions, sales forecasts and other information about Waldencast’s possible or assumed future results of operations or our performance; (v) changes in general economic conditions; (vi) the impact of any international trade or foreign exchange restrictions, the imposition of new or increased tariffs, foreign currency exchange fluctuations; (vii) that the price of Waldencast’s securities may be volatile due to a variety of factors, including Waldencast’s, Obagi Medical’s or Novaestiq’s inability to implement their business plans; and (viii) the ability to implement Waldencast’s strategic initiatives and continue to innovate Obagi Medical’s existing products and anticipate and respond to market trends and changes in consumer preferences. The foregoing list of factors is not exhaustive. You should carefully consider the foregoing factors and the other risks and uncertainties described in the “Risk Factors” section of Waldencast’s Annual Report on Form 20-F for the year ended December 31, 2024, filed with the SEC on March 20, 2025, or in other documents that may be filed or furnished by Waldencast from time to time with the SEC. These filings identify and address other important risks and uncertainties that could cause actual events and results to differ materially from those contained in the forward-looking statements. Forward-looking statements speak only as of the date they are made. Readers are cautioned not to put undue reliance on forward-looking statements, and Waldencast assumes no obligation and do not intend to update or revise these forward-looking statements, whether as a result of new information, future events, or otherwise.

Contacts

Investors
ICR
investors@waldencast.com

Media
ICR
waldencast@icrinc.com

The MIL Network –

July 23, 2025
MIL-OSI United Kingdom: CMA proposes action to drive more competition on mobile platforms
Source: United Kingdom – Government Statements

Press release

CMA proposes action to drive more competition on mobile platforms

Measures designed to boost the UK’s app economy, unlocking global success and ensuring UK consumers aren’t left behind.
The Competition and Markets Authority (CMA) is today proposing to designate Apple and Google with ‘strategic market status’ (SMS) in each of their mobile platforms and has published separate roadmaps of potential actions to improve competition.

The UK app economy

The UK has a vibrant app developer community, representing Europe’s largest app economy by revenue and app developer count. In total, the UK app economy generates an estimated 1.5% of the UK’s GDP and supports around 400,000 jobs here. App-led innovation has powered the success of strategically important sectors for the UK, like financial services and gaming. Fintech stands out, attracting over £18 billion in inward investment over the past 3 years. Meanwhile, gaming contributes £6 billion to the UK economy, with mobile gaming alone bringing in nearly £2 billion a year. UK developers are also behind many of the apps that make modern life work – helping millions of people work, shop, bank, travel, game, consume content and stay connected.

UK mobile platforms

Apple and Google’s mobile platforms hold an effective duopoly, with around 90 – 100% of UK mobile devices running on Apple or Google’s mobile platform. The CMA’s investigation has heard concerns affecting businesses and consumers in the UK. These differ across Apple and Google but include:

inconsistent and unpredictable app review processes can create uncertainty for developers, meaning delayed or failed launches

inconsistent app store search rankings may favour apps owned by the firms

up to 30% commission on some in-app purchases, as well as restrictions on developers ‘steering’ customers outside of their app stores, for example towards other ways to pay or subscribe, which could make some business models unviable, reduce consumer choice, and chill innovation

restrictions on developers’ access to features and functionality including between smartphones and wearable technology (such as smart watches) may be impeding innovation

‘Choice architecture’ (like default settings, pre-installation, prominence, prompts, and friction) may favour the firms’ own services, limiting competition and genuine choice for users.

It is essential the digital economy works well to power the success of businesses across the UK economy. More competition and choice will unlock opportunities for UK businesses to invest, innovate and grow, as well as allowing UK consumers to benefit from the latest innovations, high quality experiences and more choice.

A proportionate, pro-innovation approach

The UK’s new digital markets competition regime can help unlock opportunities for innovation and growth, by promoting competition in digital markets while protecting UK consumers and businesses from unfair or harmful practices. To support pace and provide greater predictability for Apple and Google and other market participants, the CMA has published roadmaps outlining how it would prioritise actions taken during the first half of any designation period. Measures outlined in the roadmaps focus on areas including:

App stores

Ensuring a fair and transparent app review process and app store rankings to give UK app developers certainty

Allowing the ability to ‘steer’ users out of app stores, for example to make purchases. Potentially driving innovation and financial savings for developers

Interoperability

Ensuring UK app developers have interoperable access to key Apple functionality to create innovative products and services

Addressing Apple restrictions on digital wallets to ensure UK FinTech can compete, and enabling connected devices like smartwatches and gaming headsets to seamlessly connect with smartphones

Consumer choice

Ensuring consumers have a genuine choice over the services they use on their devices

AI services

Exploring the factors likely to be important for the development of AI services like voice assistants on mobile devices to ensure a level playing field in this rapidly advancing sector

Sarah Cardell, Chief Executive of the CMA, said:

Apple and Google’s mobile platforms are both critical to the UK economy – playing an important role in all our lives, from banking and shopping to entertainment and education. But our investigation so far has identified opportunities for more innovation and choice.

The targeted and proportionate actions we have set out today would enable UK app developers to remain at the forefront of global innovation while ensuring UK consumers receive a world-class experience. Time is of the essence: as competition agencies and courts globally take action in these markets, it’s essential the UK doesn’t fall behind.

The CMA welcomes views on its proposed designation decisions and accompanying roadmaps. A final decision on both SMS designations will be made by 22 October 2025.

More information about these investigations is available on the Apple and Google case pages.

Read more on today’s announcement in this blog.

Notes to editors

On 23 January 2025 the CMA launched two separate SMS investigations – one into Apple and another into Google – to assess these firms’ position in their respective ‘mobile ecosystems.’ The investigations are exploring the impact on people who use mobile devices and the businesses developing services or content for these devices. The CMA is today publishing proposed decision reports and roadmaps as part of these parallel investigations.

The CMA will be consulting with affected businesses and consumer groups widely over the coming months. The CMA expects to begin consulting on a first set of priority interventions from shortly after any designation decision and will publish an updated roadmap addressing our approach to the more complex issues the CMA has identified in the first half of 2026.

The issues covered by the proposed designations are being scrutinised around the world and the CMA recognises that any proposed action taken must fit with decisions being taken elsewhere.

In line with the CMA’s prioritisation principles and the strategic steer from government, the CMA’s roadmaps consider targeted measures where it can make a difference in the UK, and which fit with steps taken, or proposed, in other jurisdictions such as the EU and US.

A finding that Google/Apple has SMS does not imply that it has acted anti-competitively. If the CMA designates Google and/or Apple as having SMS, it would then be able (subject to a legal framework that includes further public consultation and showing that measures are proportionate) to introduce interventions (including as set out in the roadmap) to unlock competition, increase innovation, and protect consumers.

FinTech figures from: Innovate Finance FinTech Investment Landscape reports

For media enquiries, contact the CMA press office on 020 3738 6460 or press@cma.gov.uk.

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Published 23 July 2025
MIL OSI United Kingdom –
July 23, 2025

MIL-OSI United Kingdom: Jobs unlocked as first wave of hydrogen projects sign contracts

Source: United Kingdom – Government Statements

Press release

Jobs unlocked as first wave of hydrogen projects sign contracts

10 projects from the first phase of the government’s flagship hydrogen programme can begin construction.

Spades in the ground as 10 of the UK’s first commercial-scale green hydrogen projects sign contracts, boosting growth as part of Plan for Change
homegrown, green hydrogen to fuel range of British business and industry with clean power, from tissue manufacturing and waste disposal to breweries and bus services
projects to unlock more than 700 good jobs across Britain in the clean energy industries of the future, while delivering on clean energy mission and industrial strategy

Skilled jobs will be created in Britain’s industrial heartlands, as the first commercial-scale green hydrogen projects in the country sign long-term contracts to fuel heavy industry with clean, homegrown energy.

In an update to the hydrogen market, the government has confirmed that 10 projects from the first phase of its flagship hydrogen programme – Hydrogen Allocation Round (HAR1) – can begin construction, supporting the government’s mission to become a clean energy superpower.  

This means spades can now enter the ground across the country in a major boost to the UK’s hydrogen industry, creating highly skilled jobs in industrial cities and regions such as South Wales, Bradford (North West), North Scotland and Teesside (North East).

These projects will support British industry to move away from using fossil fuels towards domestically-produced low-carbon hydrogen, reducing emissions heavy industry – such as steel, glass and heavy transport – ensuring decarbonisation is a route to reindustrialisation.

The HyMarnham project in Newark, Nottinghamshire has already started construction. The project is transforming the old High Marnham coal-fired power station into a clean energy hub by using hydrogen to decarbonise waste disposal operations.

Cromarty Hydrogen Project in Northeast Scotland is another of the 10 projects. The project’s 3 5MW electrolysers – which use electricity to split water into hydrogen and oxygen – will power local industrial users, including distilleries.

Taken together, the projects are expected to create over 700 jobs, including roles for apprentices, graduates, pipefitters and engineers. They are also expected to bring in over £400 million of private capital investment which has been committed between 2024 and 2026 – driving economic growth and British innovation through the Plan for Change.

The update comes as Andrex and Kleenex producer Kimberly-Clark announces that it will be the first major consumer goods company in the UK to make a significant commitment to green hydrogen. Kimberly-Clark, together with energy partners HYRO, Carlton Power, and Schroders Greencoat, will invest a combined £125 million into HAR1 projects at two plants in Barrow-in-Furness, Cumbria and Northfleet, Kent.

Minister for Industry, Sarah Jones, said:

This government is rolling out hydrogen out at scale for the first time, with 10 of the first projects now shovel-ready to start powering businesses with clean, homegrown energy from Teesside to Devon.

Hydrogen will help us cut industrial emissions and support Britain’s industrial renewal by creating thousands of jobs in our industrial heartlands as part of the Plan for Change.

Neil McDermott, Chief Executive of Low Carbon Contracts Company (LCCC), said:

LCCC is proud to have signed the UK’s first Low Carbon Hydrogen Agreements, supporting the development of projects under the Hydrogen Production Business Model.

These agreements provide revenue stability for producers, and a clear signal that low-carbon hydrogen has a key role to play in the UK’s future energy system.

We look forward to working closely with project developers to bring these projects into operation.

Dan Howell, Managing Director at Kimberly-Clark UK & Ireland said:

We are delighted to be the first UK consumer goods manufacturer to really embrace green hydrogen, showing that manufacturing industries can take the lead and overcome the technical challenge and adopt green hydrogen at scale. This initiative builds on the investments and progress we’ve already made with innovative technologies for our business, our consumers and our customers.

Today’s announcement follows the Spending Review which saw an extra £500 million confirmed for the first ever hydrogen transport and storage network as part of Britain’s industrial renewal, connecting hydrogen producers with vital end users, including power stations and industry for the first time.

The government has also announced that it will consult on transmission-level hydrogen blending – assessing the economic and technical feasibility for hydrogen to be blended into the networks that are the backbone of Britain’s gas system, before it is safely transported into homes and businesses.

Hydrogen transmission blending has the potential to reduce costs for hydrogen production projects and the wider energy system, and the consultation will also gather evidence to assess whether hydrogen blending could lower consumers’ energy bills.

Clare Jackson, CEO of Hydrogen UK, said:

Signing these contracts demonstrates the confidence and commitment of both the government and industry in building a sustainable hydrogen sector.

Our members are at the forefront of this transition, and their projects will play a vital role in meeting the UK’s net-zero targets while driving economic growth and job creation.

Dr Emma Guthrie, CEO of the Hydrogen Energy Association, said:

This announcement marks a significant and encouraging milestone for the UK’s hydrogen sector.

The signing of contracts for 10 projects under HAR1 provides vital momentum and confidence for industry and investors alike.

We look forward to seeing these projects move into the next phase, helping to scale up the UK’s low carbon hydrogen economy.

Pierre de Raphélis-Soissan, CEO of Hynamics UK who are developing the Tees Green Hydrogen project, said:

We are delighted that Tees Green Hydrogen has successfully signed a contract as part of the Hydrogen Allocation Round.

We are committed to advancing low carbon hydrogen solutions that not only support the UK’s energy transition but also contribute to a sustainable future for our communities.

This achievement marks a significant milestone in the journey towards industrial decarbonisation within the Tees Valley region.

Gareth Mills and Kevin Selleslags, on behalf of Bradford Low Carbon Hydrogen (BLCH) said:

Signing our contract to take the largest HAR 1 project forward is a significant step.

Thanks to the government’s investment, we’re able to continue to progress our plans to transform Birkshall from a former fossil fuel gas site powering Bradford’s homes and businesses to a flagship low carbon hydrogen production facility and fuelling station.

The scheme will not only help the area decarbonise with cleaner fuel but will vitally create around £120 million and support 125 jobs in the regional economy.

Alistair Collins, Director at HyMarnham Power, said:

As one of the first HAR1 projects now commissioning electrolyser systems, we’re proud to demonstrate what government support can unlock, real infrastructure, green hydrogen production and a tangible contribution to the UK’s net zero and energy security goals.

Lucy Whitford, RES’ Managing Director, UK&I, said:

Green hydrogen, created using British low carbon energy, will revolutionise how we power industry, helping the UK to build a globally competitive, zero carbon economy in the process.

We are proud of the success of HYRO’s Northfleet project, which will show how we can make green hydrogen a reality.

Notes to editors

HAR1 projects are expected to access over £2 billion over 15 years in revenue support from the Hydrogen Production Business Model and over £90 million in capital expenditure support via the Net Zero Hydrogen Fund.

Further details of the 10 projects which have signed to HAR1 are detailed in the table below, with contracts available on the LCCC registry.

Government is working collaboratively with the project developer of the final HAR1 project to ensure they are ready to sign the Low Carbon Hydrogen Agreement as soon as possible.

See the transmission blending consultation.

Project name	Developer	Constituency	Summary
Cromarty Hydrogen Project	Scottish Power & Storegga	Caithness, Sutherland and Easter Ross	Cromarty Green Hydrogen Project is located in northeast Scotland and is being developed by Scottish Power and Storegga. The project will use electricity from nearby wind farms produce hydrogen that could be sold to local industrial offtakers, including distilleries.
Bradford Low Carbon	Hygen	Bradford East	Bradford Low Carbon Hydrogen is located within the city centre of Bradford, Yorkshire and is being developed by Hygen in partnership with Ryze. The project will use renewable electricity to produce hydrogen for use in a range of offtakers in the mobility sector. JCB and Wrightbus are key potential customers.
West Wales Hydrogen Project	Morgen & Trafigura	Mid and South Pembrokeshire	West Wales Hydrogen Project is located in Milford Haven, West Wales, and is being developed by MorGen and Trafigura. The project will produce hydrogen could be sold to local industrial offtakers including Natural Gas facilities to decarbonise their operations.
High Marnham	JG Pears & GeoPura	Newark	HyMarnham is located on the site of an old coal power station in the East Midlands and is being developed by JG Pears and GeoPura. Hydrogen produced is expected to be used by GeoPura to supply their remote power generation units and by JG Pears as part of their waste disposal operations.
Whitelee Green Hydrogen	Scottish Power	Kilmarnock and Loudoun	Whitelee Green Hydrogen is located in central Scotland, 14 miles south of Glasgow and is being developed by Scottish Power. The project will use electricity from Whitelee Wind Farm to produce hydrogen to be sold to local distilleries and transportation companies to decarbonise their operations.
Green Hydrogen 3	HYRO	Gravesham	Green Hydrogen 3 is located in Northfleet, South east, and is developed by HYRO. Electricity will be sourced through a renewable Power Purchase Agreement and aims to be used to produce hydrogen for use in a paper mill to power industrial boilers.
Trafford	Carlton Power	Stretford and Urmston (Greater Manchester)	Trafford Hydrogen Project is located in Trafford, Manchester and is being developed by Carlton Power. The project will produce hydrogen to be sold to a range of local industrial offtakers.
Barrow		Barrow-in-Furness (Cumbria)	Barrow Hydrogen is located in Cumbria and is being developed by Carlton Power. The project could provide low carbon hydrogen to the neighbouring Kimberly Clark tissue manufacturing site.
Langage		South West Devon (Plymouth)	Langage green hydrogen is located in Plymouth and is being developed by Carlton Power. The project will supply hydrogen to companies located in Langage Energy Park which could utilise Hydrogen in place of gas in industrial processes such as minerals processing.
Tees Green	EDF/Hynamics	Redcar (Teesside)	The Tees Green hydrogen project is located in Teeside. Low carbon hydrogen will be produced from electricity generated in the Teesside Offshore Wind Farm for use in the production of Sustainable Aviation Fuel, helping decarbonise the aviation industry in the future.

Published 23 July 2025

MIL OSI United Kingdom –

July 23, 2025

MIL-OSI Banking: RBI Bulletin – July 2025
Source: Reserve Bank of India

Today, the Reserve Bank released the July 2025 issue of its monthly Bulletin. The Bulletin includes four speeches, four articles and current statistics.

The four articles are: I. State of the Economy; II. Revisiting the Oil Price and Inflation Nexus in India; III. Determinants of Overnight Uncollateralised Money Market Volume- An Empirical Assessment; and IV. Household Inflation Expectations in India: Emerging Trends, Determinants and Impact of Monetary Policy.

I. State of the Economy

The global macroeconomic environment remained fluid in June and July so far amidst geo-political tensions and tariff policy uncertainties. Domestic economic activity held up, with improving kharif agricultural season prospects, continuation of strong momentum in the services sector and modest growth in industrial activity. Headline CPI inflation remained below 4 per cent for the fifth consecutive month in June driven by deflation in food prices. System liquidity remained in surplus to facilitate a faster transmission of policy rate cuts to the credit markets. The external sector remained resilient, backed by ample foreign exchange reserves and a moderate external debt-to-GDP ratio.

II. Revisiting the Oil Price and Inflation Nexus in India

By Sujata Kundu, Soumasree Tewari and Indranil Bhattacharyya

In the backdrop of volatile global crude oil prices and a less regulated petrol and diesel prices regime, this paper reassesses the impact of international crude oil price movements on headline inflation in the Indian context.

Highlights:
- Since the pandemic, the global economy has experienced large gyrations in crude oil prices. India, being a net oil importer, has remained susceptible to the vagaries of global crude oil prices and has been actively intervening in the domestic fuel market to contain the adverse fallout of higher oil prices on domestic inflation and output.
- Empirical estimates suggest that a 10 per cent rise in global crude oil prices could increase India’s headline inflation by around 20 basis points on a contemporaneous basis. In the post-pandemic period, the impact on inflation, although largely contained, has been statistically significant with the surge in crude oil prices owing to the post-pandemic demand revival, which further intensified due to the supply chain disruptions caused by the outbreak of the Russia-Ukraine war in early 2022.
- While Government measures have limited the impact of global crude oil price fluctuations on headline inflation, increase in oil import dependency warrants measures not only to contain the spillovers to domestic prices but also to gradually transit towards alternative sources of fuel for more efficient management of domestic fuel prices in the long run.
III. Determinants of Overnight Uncollateralised Money Market Volume – An Empirical Assessment

By Srijashree Sardar and Alqama Pervez

The uncollateralised money market holds a pivotal position in India’s monetary framework, serving as the principal avenue for the exchange of central bank reserves. Its significance is further underscored by the fact that the weighted average call rate (WACR) functions as the operating target of the Reserve Bank of India’s monetary policy. Against this backdrop, the article seeks to empirically examine the factors influencing trading volumes in the unsecured interbank segment of the Indian money market.

Highlights:
- The temporal distribution of trades in the call money market exhibits skewness within the day. The bulk of the trades occur in the first hour of any given day which may be attributed to the fact that primary dealers, the major borrowers in the segment, tend to fulfil their funding needs early in the day.
- System liquidity conditions, spread of the weighted average call rate over the policy repo rate, divergence of overnight forward premia from interest rate differential, inflows to and outflows from government accounts, trading volume of the collateralised segment and market trading hours are found to have a significant impact on call volume during the period of the study (2019-2024).
- Divergence of overnight forward premia from the interest rate differential has a positive impact on call volume, indicating arbitrage by banks during times of such divergence.
- Co-operative banks participation in call money market decreased significantly after the Reserve Bank’s directive for mandatory membership on NDS-CALL trading platform for call money market activity. It has, however, rebounded in the recent months, following an increase in membership of co-operative banks.
IV. Household Inflation Expectations in India: Emerging Trends, Determinants and Impact of Monetary Policy

By Ankit Ruhi, Kanupriya Sharma and Subhadhra Sankaran

Household inflation expectations rose in the aftermath of the COVID-19 pandemic and geopolitical tensions, and have remained largely elevated since. In view of these developments, this article analyses the evolving trends in household inflation expectations. It proposes alternative methods for adjusting higher values of expectations reported in Inflation Expectations Survey of Households and identifies the key macroeconomic factors influencing these expectations. Finally, the impact of policy interventions, especially since the adoption of flexible inflation targeting (FIT) regime, is also examined.

Highlights:
- Households’ inflation expectations exhibit systematic upward bias compared to those of professionals and businesses, even in periods of stable or low inflation.
- Median inflation expectation and the disagreement across demographic groups is gradually moderating since 2023-24.
- Perceived past inflation expectations add to stickiness in household expectations even as influence of realised inflation dynamics becomes stronger when expectations are adjusted for extreme values.
- Transition to the FIT regime has successfully aided in stabilising inflation expectations. Monetary policy actions are found to effectively anchor inflation expectations.
- While headline inflation is more influential than food inflation, volatile and broad-based food inflation may keep overall expectations elevated, underscoring the importance of continued policy emphasis on headline inflation.
The views expressed in the Bulletin articles are of the authors and do not represent the views of the Reserve Bank of India.

(Puneet Pancholy)
Chief General Manager

Press Release: 2025-2026/769
MIL OSI Global Banks –
July 23, 2025
MIL-OSI USA: Office of the Governor – News Release – Gov. Green, First Lady, DHS Director Urge Families to Apply for SUN Bucks

Source: US State of Hawaii

FOR IMMEDIATE RELEASE
July 22, 2025

HONOLULU – Governor Josh Green, M.D., First Lady Jaime Kanani Green and Department of Human Services (DHS) Director Ryan Yamane, gathered today to raise awareness about the SUN Bucks Summer EBT program and encourage families to apply before the fast-approaching August 3, 2025 deadline.

SUN Bucks is a new and permanent program that provides $177 per eligible child in food benefits to help families during the summer months when access to school meals is limited. The program is a joint effort between the state of Hawai‘i and the U.S. Department of Agriculture that aims to bridge the summer nutrition gap for keiki across the islands.

“Today is about something simple, but incredibly important — making sure our children have enough to eat,” said Governor Green. “SUN Bucks is a reminder that when we invest in our keiki, we invest in the future of our state. These benefits don’t just help families — they strengthen our local economy by putting dollars directly into our grocery stores, farmers markets and food systems.”

First Lady Green, who has championed the effort since its launch in 2024, emphasized her commitment to ending childhood hunger across Hawai‘i.

“In Hawai‘i, we care for one another — we mālama our keiki, our kūpuna and our ‘ohana,” she said. “SUN Bucks reflects those values. It’s about ensuring every child has what they need nutritionally to grow and thrive — not just during the school year, but all year long. No child in Hawai‘i should ever go hungry and this program helps us live up to that kuleana.”

According to DHS, more than 80,000 children statewide have already received benefits, representing over $14 million in food assistance. However, thousands more may still be eligible.

“We’re proud of the progress so far — but we also know many families still need support,” said DHS Director Yamane. “If your child was approved for free or reduced-price meals, or your family received SNAP or TANF, you’re already eligible and don’t need to apply. But if you’re not sure, don’t wait — visit sunbucks.dhs.hawaii.gov or call 1-888-975-7328. We’re here to help.”

Eligible families that don’t automatically qualify have until August 3, 2025, to submit an application. Cards are mailed to qualifying households and can be used anywhere EBT is accepted, including local farmers markets through the Da Bux program.

For more information or to apply, visit sunbucks.dhs.hawaii.gov or call 1-888-975-SEBT (7328).

Photos from today’s news conference can be found here.
Video footage from today’s news conference can be found here.

MIL OSI USA News –

July 23, 2025
MIL-OSI Africa: Lusophone Compact Presents Investment Opportunities to Accelerate Inclusive Development at 15th Community of Portuguese-Speaking Countries (CPLP) Summit

Source: APO – Report:

The Lusophone Compact Secretariat last week engaged with leaders of the Community of Portuguese-Speaking Countries (CPLP) at their 15th Summit and economic forum in Bissau, Guinea-Bissau. The July 15-18 meetings provided a strategic platform to showcase the Lusophone Compact’s role in attracting private financing to accelerate sustainable economic development in African member countries.

An initiative by the African Development Bank in partnership with the Governments of Portugal and Brazil, the Lusophone Compact supports private sector investment in the six African member states of the CPLP: Angola, Cabo Verde, Guinea-Bissau, Mozambique, São Tomé and Príncipe, and Equatorial Guinea. Representing a community of more than 300 million people across four continents, with a combined GDP of $2.3 trillion in 2024, the CPLP holds immense potential for trade, investment, and inclusive economic transformation.

Compact objectives are: promoting inclusive private sector development, mobilizing blended finance and technical assistance, strengthening economic resilience and regional integration, and aligning with national development priorities and the CPLP’s economic agenda.

During the summit, officials of the Lusophone Compact secretariat participated in high-level policy dialogues on food security, technology, and sustainability, which align with the thematic focus of the summit under Guinea-Bissau’s rotating presidency. The Compact team also presented its suite of financing tools and eligibility criteria while supporting resource mobilization efforts in member countries.

“The 15th CPLP Summit presented a unique opportunity to reinforce the strategic priorities of the Lusophone Compact, particularly in areas of food security, technology, and sustainability,” said Neima Ferreira Coordinator of the Lusophone Compact at the African Development Bank. “With the right tools, partnerships and vision, Portuguese-speaking countries can lead a new era of investment-driven development.”

The host country, Guinea-Bissau, reaffirmed its commitment to private sector-led growth and expressed strong interest in aligning the Compact’s support mechanisms with its national development strategy.

One of the Compact’s flagship achievements is the Cabeólica Project in Cabo Verde – a large-scale public-private wind energy project, co-financed by the African Development Bank and the European Investment Bank. The project supplies more than 20 percent of Cabo Verde’s electricity, avoids the emission of thousands of tons of CO2 annually, and has created more than 150 local jobs. Cabeólica has become a benchmark for sustainable infrastructure and innovative finance in the region.

As Portuguese-speaking countries seek new engines for economic growth, the Lusophone Compact offers a robust mechanism for mobilizing private sector capital, fostering regional cooperation, and advancing shared development objectives.

Learn more about the Lusophone Compact here (https://apo-opa.co/44ZMHGt).

– on behalf of African Development Bank Group (AfDB).

Media contact:
Communication and External Relations Department
media@afdb.org

Media files

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MIL OSI Africa –

July 23, 2025
MIL-OSI Africa: New Bank Leadership, Capital Strategies Drive African Mining Investment Push

Source: APO – Report:

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Several African multilateral banks and financial institutions have undergone significant leadership transitions this year aimed at aligning financial strategies with the continent’s evolving development and industrialization goals. In June, the African Export–Import Bank (Afreximbank) appointed Dr. George Elombi as President and Chairman of the Board of Directors, succeeding Professor Benedict Oramah after nearly a decade of leadership. Under Dr. Elombi, the bank aims to scale into a $250 billion institution and serve as a key enabler of investment in Africa’s mining sector.

The African Development Bank (AfDB) also elected new leadership in May, appointing Sidi Ould Tah to replace Akinwumi Adesina. The Bank is now expanding its capital base – reaching $318 billion – while pursuing a $25 billion replenishment round and broadening its bond issuance strategy to support infrastructure and industrialization. Leadership changes have also extended to commercial banks. Standard Bank appointed Sim Tshabalala as interim CEO in April, while Absa Group named Kenny Fihla as CEO in March.

African Mining Week serves as a premier platform for exploring the full spectrum of mining opportunities across Africa. The event is held alongside the African Energy Week: Invest in African Energies 2025 conference from October 1-3 in Cape Town. Sponsors, exhibitors and delegates can learn more by contacting sales@energycapitalpower.com.

At this year’s African Mining Week (AMW), a featured panel on The Investor Perspective – Financing Africa’s Mineral Industrialization will explore how these and other institutions are adapting financial strategies to meet the continent’s infrastructure and beneficiation needs.

Recent deals underscore the sector’s momentum. In June, Afreximbank signed a $3.8 billion agreement with Gabon to fund manganese and gold trading, energy development and rail infrastructure. It also extended a $25 million facility to Lilium Gold for operations at the Boungou and Wahgnion gold mines in Burkina Faso. Meanwhile, AfDB approved $325 million in financing for Mauritania’s state-owned SNIM to upgrade logistics and equipment for its iron-ore corridor.

In South Africa, Standard Bank provided $300 million to Northam Platinum for a 140 MW wind power plant, ensuring long-term energy security for mining operations. It is also co-financing a $38.5 million deal with Lotus Resources for the Kayelekera Uranium Project in Malawi. Absa Bank is backing Angola’s Longonjo Rare Earth Project – operated by Pensana – with an $80 million facility. The project is expected to supply up to 5% of the world’s magnet rare earth elements critical to electric vehicle manufacturing.

AMW 2025 will bring together African financial institutions, mining stakeholders and international partners to forge new investment alliances and accelerate mining sector growth. Held alongside African Energy Week: Invest in African Energies 2025, AMW is the premier platform for engaging with the full spectrum of Africa’s mining opportunities.

– on behalf of Energy Capital & Power.

MIL OSI Africa –

July 23, 2025
MIL-OSI Europe: Italy: EIB provides €120 million to AGSM AIM to strengthen power grid
Source: European Investment Bank

AGSM
- The agreement will enable power grid modernisation and reliability improvement work in three key municipalities in Veneto, with direct benefits for residents and businesses.
- The operation will help make the local energy system more efficient and able to meet the challenges of the green transition and digitalisation.
The European Investment Bank (EIB) and AGSM AIM have signed a finance contract totalling €120 million to strengthen and modernise the power grid in the three Italian municipalities of Vicenza, Verona and Grezzana, all strategic areas for the group served by the V-RETI S.p.A. business unit.

The financing – which can be used all at once or split into tranches – is a step forward in promoting the energy transition and the goals of REPowerEU. The funds will be directed to projects improving the grid’s operational efficiency, resilience and sustainability, in line with EU decarbonisation and digitalisation objectives.

EIB Vice-President Gelsomina Vigliotti said: “This agreement shows our growing practical commitment to backing investments to make power grids more modern, sustainable and resilient, benefiting local communities and Italy’s energy transition.”

AGSM AIM Managing Director Alessandro Russo added: “This new EIB financing confirms our commitment to investing in our longstanding operational areas, making them more modern and sustainable. These technical operations are also strategically important to providing residents and businesses with an efficient power supply able to meet future challenges. The support of an institution like the EIB shows the strength of our business plan and the group’s ability to lead the national energy transition.”

Background information

The European Investment Bank (ElB) is the long-term lending institution of the European Union, owned by its Member States. It finances investments that contribute to EU policy objectives. EIB projects bolster competitiveness, drive innovation, promote sustainable development, enhance social and territorial cohesion, and support a just and swift transition to climate neutrality. In the last five years, the EIB Group has provided more than €58 billion in financing for projects in Italy. All projects financed by the EIB Group are in line with the Paris Climate Agreement. The EIB Group does not fund investments in fossil fuels. We are on track to deliver on our commitment to support €1 trillion in climate and environmental sustainability investment in the decade to 2030 as pledged in our Climate Bank Roadmap. Over half of the EIB Group’s annual financing supports projects directly contributing to climate change mitigation and adaptation, and a healthier environment. Approximately half of the EIB’s financing within the European Union is directed towards cohesion regions, where per capita income is lower.

AGSM AIM Group provides essential services to individuals and products of high added value for the development of businesses, entities and institutions. It operates in the electrical energy, gas, district heating, energy efficiency, street lighting, telecom services, electric mobility and environmental health sectors. Created by the merger of AGSM Verona and AIM Vicenza, the publicly owned group (61.2% owned by the municipality of Verona and 38.8% by the municipality of Vicenza) has positioned itself as a benchmark for the energy, technological, sustainability and digital transitions. Its multi-business model enabled it to record substantial profitability growth in 2024, with solid business performance. Its €1.9 billion in revenue, €182 million EBITDA, over 2 000 employees and 890 000 electricity and gas customers make it one of Italy’s biggest multi-utility companies.

AGSM AIM ELECTRICITY NETWORK UPGRADE
EIB provides €120 million to AGSM AIM to strengthen power grid
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AGSM AIM ELECTRICITY NETWORK UPGRADE
EIB provides €120 million to AGSM AIM to strengthen power grid
©AGSM
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MIL OSI Europe News –
July 23, 2025
MIL-OSI Europe: Missions – CONT Mission to Bratislava (Slovakia), 26-28 May 2025 – 26-05-2025 – Committee on Budgetary Control

Source: European Parliament

CONT mission to Slovakia © Image used under license from Adobe Stock

The purpose of this mission was to assess the situation in Slovakia related to ensuring the sound financial Management of EU funds and, more generally, to the protection of the EU’s financial interests.

MIL OSI Europe News –

July 23, 2025
India to be third-largest economy by 2028: Morgan Stanley

Source: Government of India

Source: Government of India (4)

India is expected to become the world’s third-largest economy by 2028 and more than double its GDP to $10.6 trillion by 2035, according to a Morgan Stanley report released on Wednesday.

The report estimates that three to five Indian states — including Maharashtra, Tamil Nadu, Gujarat, Uttar Pradesh, and Karnataka — could each approach the $1 trillion mark, placing them among the top 20 global economies by 2035.

“Based on the latest data, the top three states are Maharashtra, Gujarat, and Telangana,” the report said. It also highlighted Chhattisgarh, Uttar Pradesh, and Madhya Pradesh as the states that have shown the most improvement in rankings over the last five years.

According to the report, India is likely to contribute 20% of global growth over the next decade and emerge as a key driver of earnings for multinational companies.

Morgan Stanley’s economists underlined the crucial role played by India’s 28 states and eight Union Territories in achieving this growth trajectory. “States not only manage their own finances but also compete for investments by designing policies and easing business conditions. Ultimately, every factory or business is set up in a specific state,” the report said.

The success of India’s “competitive federalism,” it added, will determine whether the country can become a global manufacturing hub, double per capita income within seven years, and sustain the momentum in capital markets.

States are expected to play an increasingly important role as India moves toward becoming a $10.6 trillion economy. Their legislative and political autonomy enables them to shape industrial policy and attract investment.

Over the past decade, the report said, infrastructure spending has seen a major push. The Centre’s capital expenditure has doubled to 3.2% of GDP in FY25 from 1.6% in FY15. As a result, highway networks have expanded by 60%, airports have doubled, and metro rail systems have quadrupled.

Key central schemes — including PM Gati Shakti, the National Infrastructure Pipeline, Bharatmala, Sagarmala, and UDAN — have been implemented in tandem with state-level initiatives. States also lead investments in sectors such as power, water, and urban development.

“The Centre and states must continue to collaborate closely to meet India’s economic ambitions,” the report said.

—IANS

July 23, 2025
MIL-OSI United Kingdom: There’s plenty of work behind the festival scenery

Source: Scotland – City of Edinburgh

Culture and Communities Convener Cllr Margaret Graham looks ahead to August and champions the behind-the-scenes efforts in today’s Edinburgh Evening News.

As I approach the first summer in my new role, it has been very informative meeting many of the people responsible for making our summer festivals happen.
It has also focused my mind on the issues residents have brought to my attention regarding the impact it has on their lives.

We are getting ready, not just to host our 2025 summer festivals, but to show the world what our city can achieve. Teamwork and dedication run deep behind the scenes of our world class events management.

Edinburgh in August is a city like no other, as our residents and visitors enjoy access to thousands of outstanding shows and events. With careful planning and efficient management, working closely with our partners, we welcome the world while keeping our city running smoothly for everyone.

With so many more people in the city, we need to keep public transport moving and manage busy areas throughout the city to keep everyone safe.

The Edinburgh Festivals contribute £407 million to the local economy and 8500 FTE jobs. This figure represents the total economic impact, including spending by visitors and participants, as well as the wider effects on local businesses and jobs.

This year we are enjoying a summer of music too. Robbie Williams performed at Murrayfield in May, the Castle concerts enjoyed beautiful weather and the very successful Edinburgh Jazz and Blues Festival has just come to a close.

We are looking forward to welcoming rock legends Oasis and AC/DC in August for sell-out shows along with the Summer Sessions at the Royal Highland Centre.

With the city’s population effectively doubling during August, we will once again have a series of summertime street closures in the city centre to make our streets and pavements easier and safer to navigate.

There will be extra trains, trams, and buses to accommodate concert goers, along with those attending our summer festivals. With this in mind our advice to all is to please plan-ahead as we expect both the city centre and Murrayfield area to be very busy.

We endeavour to work hard to understand and balance the needs of residents, visitors and businesses while enabling the summer festivals and major events to take place successfully within the city.

Our role in this is a real source of pride for the council.

Published: July 23rd 2025

MIL OSI United Kingdom –

July 23, 2025
MIL-OSI Asia-Pac: LCQ18: Promoting meetings, incentive travels, conventions and exhibitions tourism

Source: Hong Kong Government special administrative region – 4

     Following is a question by the Hon Tang Fei and a written reply by the Acting Secretary for Commerce and Economic Development, Dr Bernard Chan, in the Legislative Council today (July 23):

Question:

     It is reported that the Singapore Government is actively developing the meetings, incentive travels, conventions and exhibitions (MICE) industry, having set a clear target of tripling related tourism revenue by 2040. Through measures such as policy support, financial assistance, and cross-departmental collaboration, the Singapore Government has successfully attracted numerous international event organisers to establish a presence there, significantly enhancing Singapore’s competitiveness in the global MICE market. However, Hong Kong’s ranking in the international MICE market is relatively behind, having ranked only 33rd globally in terms of the number of MICE events held in 2023. In this connection, will the Government inform this Council:

(1) whether comprehensive and regular evaluations of the effectiveness of Hong Kong’s existing MICE policies have been conducted, including performance in areas such as recent international rankings, market competitiveness, economic gains and spillover benefits to related industries; if so, of the details and how the authorities will adjust future development strategies for the MICE industry based on the evaluation results; if not, the reasons for that and whether consideration will be given to initiating such evaluations as soon as possible to more effectively promote the long-term development of the MICE industry;

(2) as there are views that Hong Kong’s current image at international MICE events is primarily associated with traditional trade exhibitions and lacks high-end international summits with global influence, whether the Government will consider re-examining and adjusting its current MICE promotion strategies, which could involve actively pursuing the hosting of internationally renowned summits with decision-making influence, with a view to enhancing Hong Kong’s image as an international city, attracting high-end visitors and driving economic growth; if so, of the details; if not, the reasons for that; and

(3) as there are views that resources for the MICE industry in the Guangdong-Hong Kong-Macao Greater Bay Area (GBA) are dispersed, and with Hong Kong being the most internationalised city in the region, how the Government will assume a leading role in promoting MICE development; whether it will, through policy advocacy, resource integration, cross-city collaboration and other means, guide the Mainland cities in the GBA to jointly develop a co-ordinated MICE development strategy, thereby enhancing the overall competitiveness of the entire GBA in the international MICE industry?

Reply:

President,

     We have consulted the Culture, Sports and Tourism Bureau on the part involving the promotion of meetings, incentive travels, conventions and exhibitions (MICE) tourism, and the consolidated reply is as follows:

     Hong Kong is the world’s seventh-largest trading entity in merchandise trade and also the region’s premier convention and exhibition (C&E) hub. Many well-known international organisations and businesses have chosen to host C&E events in Hong Kong. C&E events, in particular international ones, have attracted numerous participants (including exhibitors and buyers), not only benefitting the C&E industry but also bringing in high-spending business travellers that drive economic activities in such related sectors as accommodation, catering, retail, entertainment etc., thereby benefitting various industries and bringing important contributions to Hong Kong’s economy.

     In 2024, Hong Kong’s two dedicated venues for mega C&E events (viz. the Hong Kong Convention and Exhibition Centre and the AsiaWorld-Expo (AWE)) hosted over 350 C&E events, attracting 9.17 million participants. In terms of attracting visitors, the Hong Kong Tourism Board (HKTB) has been striving to attract different types of visitor segments. Among others, the HKTB seeks to encourage those visitors coming to Hong Kong to participate in MICE-related business activities as well as stay and travel in the city through promoting Hong Kong as a destination for MICE tourism. In 2023 and 2024, there were about 1.3 million and 1.42 million overnight MICE visitors respectively. Their per capita spending was about 30 per cent and 40 per cent higher than that of the overall overnight visitors in the respective years.

     In view of the contribution of C&E events to Hong Kong’s overall economy, the Hong Kong Special Administrative Region (HKSAR) Government launched the Incentive Scheme for Recurrent Exhibitions (ISRE) in July 2023 to subsidise venue rentals of eligible exhibitions organised by private organisers. The ISRE was very well received, supporting more than 200 eligible exhibitions by the end of June this year. To further promote the development of the C&E industry and the mega event economy, thereby generating overall economic benefits for Hong Kong, the HKSAR Government has just launched the ISRE 2.0 on July 1, 2025, by allocating an additional provision of $500 million, focusing on attracting new and recurrent international exhibitions of a large scale.

     Since the resumption of tourism in Hong Kong starting from February 2023, the HKTB has stepped up its efforts to promote the recovery and development of MICE tourism. So far, the HKTB has successfully bid, assisted in successful bidding, or subsidised the staging of over 2 500 international MICE events in Hong Kong, which span across various fields including innovation and technology, financial services, medical science, luxuries, community services, aviation, etc. Among these events, there are high-end international summits of global impact, including the Fortune Innovation Forum 2024 held in March 2024, the Leaders of Luxury Summit 2024 held in November 2024 and the Consensus Hong Kong held in February 2025. Meanwhile, scheduled international MICE events include the Routes World 2025 to be held in September 2025, as well as the Lions International Convention and the Association of National Olympic Committees General Assembly to be held in 2026 etc. It is estimated that the MICE events supported by the HKTB in 2025-26 will attract more than 183 000 high value-added overnight MICE visitors to visit Hong Kong, generating a total spending of about $1.4 billion based on the per capita spending of $7,800 by MICE visitors in 2024.

     In respect of the Guangdong-Hong Kong-Macao Greater Bay Area (GBA), the HKTB will extend the scope of its promotion work under the theme of “Meet Hong Kong â€§ Meet GBA” to explicate the opportunities within the GBA so as to attract the staging of overseas MICE events in Hong Kong. In addition, the C&E industry will also explore the inclusion of GBA elements in suitable events. Among others, the UFI Global Congress 2025 will be held in the AWE in November 2025. As the host of the event, the AWE has incorporated GBA itineraries (Zhuhai and Macao) for participants from all over the world with a view to showcasing Hong Kong’s strategic advantage of being located in the centre of the GBA.

     Looking ahead, the HKSAR Government and the HKTB, in collaboration with the C&E industry and relevant organisations, will continue to support the staging of international MICE events of different scales and types in Hong Kong, so as to help consolidate Hong Kong’s position as an international MICE capital and attract more high value-added overnight visitors.

MIL OSI Asia Pacific News –

July 23, 2025
MIL-OSI Asia-Pac: LCQ2: Increasing Government revenue from land premium

Source: Hong Kong Government special administrative region – 4

Following is a question by the Hon Rock Chen and a reply by the Acting Secretary for Development, Mr David Lam, in the Legislative Council today (July 23):

Question:

Land premium is one of the major revenue sources of the Government. However, there are views pointing out that the current high inventory of new private residential units has reduced developers’ willingness to bid for land, apply for payment of land premium and redevelop old buildings. This has led to significant fluctuations in public finances. In this connection, will the Government inform this Council:

(1) whether it will consider introducing targeted measures to lower the initial investment costs for developers’ projects, e.g. enhancing the additional conditions for land sales and splitting up sites for sale, etc, as well as stepping up publicity to attract more local and overseas developers to invest in land, thereby increasing the revenue from land premium; if so, of the details; if not, the reasons for that;

(2) whether it will re-launch the “Application List” system (i.e. the Government puts land up for sale hinges on whether there is any developer triggers a certain piece of land) in order to strike a balance between market demand and the Government’s dominant position; if so, of the details; if not, the reasons for that; and

(3) apart from lowering the application threshold for compulsory sale for the redevelopment of old buildings, will the Government consider adjusting the upper limits of plot ratios in various districts to attract developers to participate in the redevelopment of old buildings by raising the plot ratios of sites earmarked for redevelopment; if so, of the details; if not, the reasons for that?

Reply:

President,

The Government land revenue primarily comes from premium generated from land sales, private treaty grants and lease modifications. The market sentiment can be affected by economic and property market conditions, resulting in fluctuations in land revenue. The Government’s policy objective is to maintain a sustained and stable land supply to support society and industry development in Hong Kong. The Government will continuously create land and roll out such land to the market in an orderly manner in light of the latest situation.

Regarding various parts of the Hon Chen’s question, the Development Bureau (DEVB)’s reply is as follows:

Firstly, regardless of external environment or property market conditions, the Government will strive to enhance the attractiveness of land sale sites. When formulating the annual land sale list and deciding when to dispose of individual sites to the market, the Government has been closely monitoring market conditions and listening to the views of the industry and potential investors. In recent years, the Government has introduced smaller-scale residential sites located in mature neighbourhood with simple tender terms. The market response has been positive, with all four residential sites successfully tendered out in the previous financial year (2024-25).

Apart from individual land sale sites, we are mindful of the need to alleviate the financial pressure on developers participating in projects of larger scale. Last December, the Government conducted an expressions of interest exercise for three pilot areas under large-scale land disposal in the Northern Metropolis (NM). We have invited the market to provide views on, among other things, various financial arrangements including payment of premium by instalment with certain interest rate. We would liaise with the banking sector on any facilitating arrangements for developers to finance the NM projects. To enhance development incentives of the developers, we will consider allowing land owners to voluntarily surrender land planned to be resumed by the Government in the NM to offset the premium payable for in-situ land exchange or large-scale land disposal in new development areas. In addition, we are exploring wider application of the “pay for what you build” approach, which allows developers to pay premium for lease modifications that is determined based on the actual floor area and actual use, thereby reducing their development costs.

On publicity, we held the Enterprise Participation in Northern Metropolis Development Event last November. Over 80 enterprise representatives attended and signed a Memorandum of Understanding about supporting and participating in the NM development. During the ceremony, 35 enterprise representatives also signed agreements among them to collaborate in the NM development, with a total investment of over $100 billion, demonstrating strong confidence and interest in the NM.

We also joined hands with other bureaux, the Office for Attracting Strategic Enterprises (OASES) and Invest Hong Kong (InvestHK) in promoting the NM and facilitating the development of various industries therein. In particular, OASES is tasked with attracting high-potential and representative strategic enterprises from around the globe, and has announced four batches of 84 strategic enterprises that have set up or expanded their businesses in Hong Kong, many of which have also expressed interest in establishing their presence in the NM. InvestHK, on the other hand, is committed to assisting Mainland and overseas enterprises to set up and expand in Hong Kong by providing one-stop support services. Last year, InvestHK assisted over 500 enterprises to set up or expand in Hong Kong, including those which have expressed interest in the land for industries in the NM. OASES, InvestHK and the Northern Metropolis Co-ordination Office under the DEVB will further collaborate to follow up on the needs of those enterprises interested in setting up businesses in the NM.

Secondly, under the prevailing system, the Government will announce the Land Sale List in advance on a yearly basis, and also the land tender programme on a quarterly basis based on considerations such as policy needs, market conditions and other sources of supply. We consider that the current system enables the Government to assume the lead in land disposal, thereby ensuring that it can increase the supply of land in a stable and prudent manner. At present, the Government has no intention to re-launch the “Application List” system, nor does it have any plan to implement a dual-track approach of land sale and adopting the “Application List” system, so as not to cause disruption to the Government’s strategy and pace regarding land disposal and send confusing signals to the market. If developers are interested in particular sites, they may express their interest to the DEVB through various channels for its reference.

As one of the Government’s measures to encourage the private sector to participate in the redevelopment of old buildings, the Land (Compulsory Sale for Redevelopment) (Amendment) Ordinance 2024 (the Amendment Ordinance) was implemented last December to lower the compulsory sale application thresholds and facilitate multiple adjoining-lot compulsory sale applications. Since the implementation of the Amendment Ordinance, the Lands Tribunal has received four compulsory sale applications.

The Government has also implemented other measures in recent years to incentivise the private sector to participate in the redevelopment of old buildings, so as to expedite the pace of urban renewal. For example, we have been progressively implementing the recommendations proposed in the District Study for Yau Ma Tei and Mong Kok completed in 2021, including piloting the transfer of plot ratio within the same district and permitting interchangeability of domestic and non-domestic plot ratio, with a view to enhancing the financial viability of redevelopment projects. For the ongoing district studies for Sham Shui Po and Tsuen Wan being undertaken by the Urban Renewal Authority (URA), we would explore the feasibility of adjusting the maximum plot ratio of individual district, as well as increasing the maximum plot ratio of individual old building site upon redevelopment. The URA will submit the Master Renewal Plans to the Government in the second half of this year. Moreover, the DEVB is studying the use of newly developed land to drive large-scale urban redevelopment projects, including considering cross-district transfer of unutilised plot ratio be allowed from old districts to new development areas, and reducing the density of old districts. We will complete the relevant study and put forward preliminary recommendations within this year.

MIL OSI Asia Pacific News –

July 23, 2025
MIL-OSI Asia-Pac: LCQ22: Waste reduction measures in sports stadiums

Source: Hong Kong Government special administrative region – 4

Following is a question by the Hon Doreen Kong and a written reply by the Secretary for Culture, Sports and Tourism, Miss Rosanna Law, in the Legislative Council today (July 23):

Question:

The 15th National Games (NG) will be held in Guangdong, Hong Kong and Macao in November this year. One of the key highlights of the Games is the thorough implementation of green initiatives in organising the event, and the endeavour to make it the first carbon-neutral event in the history of NG. However, there are views that the Kai Tak Sports Park (KTSP), which is a newly-opened international flagship stadium, still has room for improvement in its waste reduction measures. In this connection, will the Government inform this Council:

(1) given that the KTSP previously prohibited audience from bringing any containers into sport events for security reasons and declined to provide reusable cups, but it has been reported that various types of prohibited containers were found in the corporate boxes and VIP seats during several major sport events held in the Park, whether the authorities have reviewed why there were such inconsistencies in the standards, and how they will ensure the fairness and consistency in the relevant requirements in the future;

(2) as there are views pointing out that while the KTSP allowed audience to bring plastic or silicone water bottles and cups into the venue during concerts held in April this year, relevant arrangements were not made for sport events which had left local and overseas audience at a loss, (i) of the reasons why the aforesaid arrangements were not implemented consistently for different types of events, and (ii) whether the Government will request the KTSP to clearly define the types of events for which the aforesaid arrangements are to be implemented and the specific justifications;

(3) as there are views that Hong Kong has mature experience in reusable container systems, and that the arrangement of “reuse instead of disposal” has been successfully implemented in many large shopping centres, restaurant chains and major events (e.g. the Hong Kong Sevens held at the Hong Kong Stadium in the past), which are effective in reducing the amount of waste, and it is learnt that the KTSP has also adopted “sustainability” (i.e. striving to integrate operational solutions conducive to sustainable development, and optimising resource usage) as one of its core values, of the reasons for not implementing the reusable container systems in the KTSP so far; and

(4) how the stadiums in Hong Kong (including the KTSP and other competition venues) will specifically implement the element of green initiatives under the principles of “green, inclusive, open and clean” during the 15th NG, so as to create exemplary venues for the 15th ‍NG in the Guangdong-Hong Kong-Macao Greater Bay Area?

Reply:

President,

The Kai Tak Sports Park (KTSP) is the largest sports infrastructure in Hong Kong’s history and is crucial for the Government’s promotion of the development of sports and mega event economy. With its official commissioning on March 1 this year, the KTSP has quickly established itself as a new hub for hosting major sports and entertainment events.

The Kai Tak Sports Park Limited (the Operator) is committed to providing an enjoyable experience for visitors attending major sports and entertainment events at the KTSP. While ensuring proper implementation of areas of importance such as event arrangements and venue security, the Operator is also dedicated to optimising the daily management and operations of the KTSP, including promoting environmentally friendly and low-carbon measures.

In consultation with the Environmental Protection Department (EPD), my reply to the questions raised by the Hon Doreen Kong is as follows:

(1) To ensure safety and order when staging large-scale events, all visitors entering the venues of the KTSP must comply with the venue rules set out by the Operator, as well as the conditions of entry stipulated in response to the requirements of event organisers. For instance, outside food and drinks, long umbrellas, glass or metal containers etc, are prohibited from being brought into the venues. All spectators, including those in suites and VIP areas, must adhere to the same rules and conditions.

Depending on the nature and arrangements of the event, individual organisers may arrange for special catering services for their guests in designated areas, subject to the Operator’s approval. The Operator will consider such requests provided that they do not affect the safety of the events. Such special catering services will apply to designated areas only. For example, the use of glass containers is only allowed inside the suite area. When enjoying the event at the balcony seats of the suite, suite users still need to follow the same venue rules, including the prohibition on using glass containers.

(2) In view of the varying nature and risks between sports and entertainment events, the Operator has established different venue rules for the two event categories.

The essence of sports events is competitiveness. When competing teams are battling against each other, especially in intense situations, the interaction among the fans could more easily lead to confrontations. Therefore, spectators at sports events are generally not allowed to bring water bottles or containers of any size (whether capped or not) into the venues so as to prevent such bottles or containers from being thrown at other spectators or players, thereby ensuring the safety of everyone inside the venue. In fact, another major sports venue in Hong Kong, namely the Hong Kong Stadium, as well as other international sports stadiums also stipulate similar requirements during sports events for security reasons.

For entertainment events (such as concerts), since there is no competition between battling teams, the likelihood of conflict among the audience is lower. The Operator and event organisers generally allow spectators to bring empty plastic or silicone reusable bottles/cups not larger than 600 millilitres with bottle/cups caps and liquids removed.

The Operator will disseminate relevant rules and conditions of entry through its website and other channels (such as social media, press releases, or event guides from the organisers) before the staging of large-scale events to ensure that spectators are well-informed to facilitate their preparation in advance. The Operator has indeed explained the details and considerations of different rules and entry conditions in past events.

(3) The Operator is dedicated to promoting sustainable development. While ensuring safety, hygiene and effective operations, the Operator has been collaborating with the Government to promote environmental protection through a multi-pronged approach.

Adhering to the objectives of “Use Less, Waste Less” and resources circulation, the KTSP has placed waste separation and recycling facilities as well as installed a waste decomposition system to convert food waste, paper cups, and other paper containers into compostable materials. All the compost produced can be used as fertiliser for plants within the precinct, showcasing the concepts of green management and resources circulation. To further promote environmental protection, all paper cups used by the Operator in the KTSP are certified biodegradable. This promotes a plastic-free culture, reducing the use of plastic tableware by spectators on one hand, while helping to maintain hygiene standards and enhance audience experience on the other.

The Operator has conducted research and made reference to practices in Hong Kong and other regions when formulating the above venue management measures. On the suggestion of using reusable plastic containers, after careful consideration, the Operator concluded that the processes involved in transporting and cleaning these reusable containers would generate additional carbon emissions and consume other resources. In addition, as reusable plastic containers are not biodegradable, they do not support the plastic-free initiative and undermine the KTSP’s efforts in promoting carbon reduction and resources circulation. In contrast, the use of biodegradable paper cups aligns well with and makes good use of the above-mentioned waste decomposition system at the KTSP, leading to a better overall carbon reduction outcome.

The Culture, Sports and Tourism Bureau and the EPD will continue to maintain close communication with the Operator to further promote environmental protection work at the KTSP, while ensuring that spectators attending major events continue to have an enjoyable experience.

(4) To adhere to the principle of “simple, safe and wonderful”, and the philosophy of being “green, inclusive, open and clean” in organising the Games, Guangdong, Hong Kong, and Macao will make joint efforts in achieving the goal of carbon neutrality for the 15th National Games, the 12th National Games for Persons with Disabilities and the 9th National Special Olympics Games. The National Games Coordination Office (Hong Kong) has formulated a “Green National Games” action plan and engaged a professional carbon auditing agency to carry out the related works such as establishing a carbon-neutral framework and collaborative initiatives, conducting comprehensive carbon emission measurement and accounting, promoting public participation in green initiatives and managing carbon offset and certification. The green and carbon-reduction measures in Hong Kong include using existing sports facilities and venues for the Games; implementing energy-saving strategies and increasing renewable energy use at competition venues (for example, applying electricity-free cooling coating and installing solar panels); advocating green transportation and securing new energy vehicles for shuttle services through sponsorship; promoting environmentally friendly accommodation; strengthening the use of digital publicity and document sharing to minimise paper use; enhancing waste separation and recycling; and setting up green exhibitions and games at competition venues to promote the concept of “Green National Games”.

MIL OSI Asia Pacific News –

July 23, 2025
MIL-OSI United Kingdom: Welsh Secretary heads to US and Canada to boost trade and investment
Source: United Kingdom – Executive Government & Departments
Press release

Welsh Secretary heads to US and Canada to boost trade and investment

English

Cymraeg

This visit comes as Aston Martin resume exports to the US, protecting 600 jobs in St Athan.
Welsh Secretary Jo Stevens with Aston Martin apprentices in St Athan in May 2025

The deal negotiated with the US protects thousands of car making jobs and supports growth in the Welsh aerospace industry.

Secretary of State for Wales, Jo Stevens, in Toronto and New York to drive further inward investment to Wales

Welsh Secretary Jo Stevens is this week (22-25 July) travelling to the United States and Canada on a mission to boost trade and investment in Wales. The two countries are among the most significant markets for Welsh exports, with goods and services worth over £2 billion destined for the US and Canada each year.

Trade and investment between Wales and North America supports over 50,000 Welsh jobs. With the significant economic links between the countries, the US and Canada provides Welsh businesses with great opportunities to grow and prosper. The visit follows the signing of the UK’s economic prosperity deal with the US in May, protecting businesses and securing jobs across the country, and boosting key sectors in Wales like steel, aerospace, car making and life sciences.

Car manufacturer Aston Martin, which has a base in St Athan in the Vale of Glamorgan employing at least 600 people, resumed exports to the United States following the successful trade deal. The Welsh Secretary will visit the new Aston Martin showroom in New York City and meet executives.

Jo Stevens’ visit to North America comes after the UK Government’s publication of its Industrial Strategy and aims to highlight Wales as a key destination for inward investment into the UK.

During the visit the Welsh Secretary will raise awareness of this December’s Investment Summit in Wales, encouraging North American business leaders and investors to participate in the event.

Driving investment into Wales is the Welsh Secretary’s primary goal, with high profile business facing events and roundtable meetings with industry leaders and investors in Toronto and New York.

Her programme includes:

Hosting a reception for business at Aston Martin’s new showroom in New York City

Meeting key Canadian businesses with an interest in Wales – including from manufacturing and other sectors – at a roundtable meeting in Toronto.

A business breakfast with investors in sport real estate in the UK in New York.

Speaking ahead of the visit, Secretary of State for Wales Jo Stevens said:

There are strong and important economic and cultural ties between Wales and North America and it is fantastic to be able to promote these and help strengthen them further.

The UK Government has made economic growth our key mission and our new trade deal with the United States delivers fantastic benefits for our key businesses like Aston Martin and for working people across Wales.

I want to build on this progress and while I am in the USA and Canada I will be discussing further opportunities for investment in Wales with companies like Aston Martin.

My message is very clear – Wales is open for business.

Deputy Trade Commissioner for North America, Alan Gogbashian said:

From sports economy firms to the automotive industry, Wales plays a key role in the UK economy, and has strong trade and investment ties with Canada and the United States.

It’s fantastic to host the Secretary of State for Wales in New York and Toronto this week to engage with current transatlantic businesses including Aston Martin, and to connect with potential investors ahead of the Investment Summit in Wales later this year.

The Welsh Secretary’s itinerary also includes a reception in Toronto with business and cultural groups with interests in Wales and meetings with individual investors in Wales like Vale Mining.

The Welsh Secretary travels to Toronto on Tuesday, 22 July and then onto New York City before returning to the UK on 25 July.

ENDS

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Updates to this page

Published 23 July 2025
MIL OSI United Kingdom –
July 23, 2025
MIL-OSI: Mandatory disclosure of holding and notice of trade in IDEX Biometrics – 23 July 2025

Source: GlobeNewswire (MIL-OSI)

Reference is made to IDEX Biometrics ASA’s disclosure on 21 July 2025 of a private placement of 9,090,909 shares at NOK 3.30 per share. IDEX discloses the following information on behalf of a major shareholder and primary insider.

Tranche 1 of the private placement amounted to 4,731,594 shares. As disclosed separately, Pinchcliffe AS, a company closely related to CEO and CFO Anders Storbråten, participated in the private placement and subscribed for 739,360 shares in Tranche 1.

In connection with the private placement, the manager of the private placement, IDEX Biometrics and Mr. Storbråten entered into a share lending agreement.

Mr. Storbråten has lent 4,731,594 shares, ISIN NO0013536078, in connection with the settlement of Tranche 1. The shares have been lent, not sold, and will be returned in due course.

After the subscription by Pinchcliffe and the temporary lending of shares, Mr. Storbråten and close relations hold 6,503,476 or 12,48% shares of the total outstanding shares and votes in IDEX Biometrics after completion of Tranche 1.

Contact person
Anders Storbråten, CEO and CFO
Tel: +47 4163 8582
E-mail: ir@idexbiometrics.com

About IDEX Biometrics
IDEX Biometrics ASA (OSE: IDEX) is a global technology leader in fingerprint biometrics, offering authentication solutions across payments, access control, and digital identity. Our solutions bring convenience, security, peace of mind and seamless user experiences to the world. Built on patented and proprietary sensor technologies, integrated circuit designs, and software, our biometric solutions target card-based applications for payments and digital authentication. As an industry-enabler we partner with leading card manufacturers and technology companies to bring our solutions to market.

For more information, visit www.idexbiometrics.com

About this notice
This notice was issued by Erling Svela, Vice president of finance, on 23 July 2025 at 11:50 CET on behalf of IDEX Biometrics ASA. The information about the lending shall be disclosed according to article 19 no. 3 of the EU Market Abuse Regulation (EU 596/2014). The information about shareholding shall be disclosed according to section 4-2 of the Norwegian Securities Trading Act (STA). The information is published in accordance with section 5‑12 of the Norwegian Securities Trading Act.

The MIL Network –

July 23, 2025
MIL-OSI Russia: Overseas investors to be given access to financial products at Hainan Free Trade Port

Translation. Region: Russian Federal

Source: People’s Republic of China in Russian – People’s Republic of China in Russian –

An important disclaimer is at the bottom of this article.

Source: People’s Republic of China – State Council News

HAIKOU, July 23 (Xinhua) — A pilot program allowing overseas investors to invest in financial products offered by local financial institutions is scheduled to be launched at the Hainan Free Trade Port on Aug. 21, 2025.

These include asset management products, private wealth management products from securities, funds and futures operators, as well as funds for investment in public placement of securities and insurance asset management products.

The program is aimed at increasing the cross-border supply of financial products and finding new channels for foreign investors to access China’s domestic market, said the People’s Bank of China’s Hainan branch, which co-authored the new rules.

The said program is also expected to help attract both domestic and foreign institutions specializing in asset management to Hainan and establish business for the benefit of the development of Hainan Free Trade Port. -0-

Please note: This information is raw content obtained directly from the source of the information. It is an accurate report of what the source claims and does not necessarily reflect the position of MIL-OSI or its clients.

.

MIL OSI Russia News –

July 23, 2025
MIL-OSI: Correction: Mandatory notice of trade in IDEX Biometrics – 22 July 2025

Source: GlobeNewswire (MIL-OSI)

Reference is made to IDEX Biometrics ASA’s disclosure on 21 July 2025 of a private placement of 9,090,909 shares at NOK 3.30 per share, split in two tranches. IDEX discloses the following information on behalf of primary insiders.

In tranche 1 of the private placement, total 4,731,594 shares :-

Pinchcliffe AS, a company closely related to CEO and CFO Anders Storbråten, subscribed to 739,360 shares, ISIN NO0013536078, at NOK 3.30 per share, and
K-konsult AS, a company closely related to chair Morten Opstad, subscribed to 128,156 shares, ISIN NO0013536078, at NOK 3.30 per share.

Contact person
Anders Storbråten, CEO and CFO
Tel: +47 4163 8582
E-mail: ir@idexbiometrics.com

About IDEX Biometrics
IDEX Biometrics ASA (OSE: IDEX) is a global technology leader in fingerprint biometrics, offering authentication solutions across payments, access control, and digital identity. Our solutions bring convenience, security, peace of mind and seamless user experiences to the world. Built on patented and proprietary sensor technologies, integrated circuit designs, and software, our biometric solutions target card-based applications for payments and digital authentication. As an industry-enabler we partner with leading card manufacturers and technology companies to bring our solutions to market.

For more information, visit www.idexbiometrics.com

About this notice
This correcting notice was issued by Erling Svela, Vice president of finance, on 23 July 2025 at 11:25 CET on behalf of IDEX Biometrics ASA. The information shall be disclosed according to article 19 no. 3 of the EU Market Abuse Regulation (EU 596/2014) and published in accordance with section 5‑12 of the Norwegian Securities Trading Act.

The MIL Network –

July 23, 2025
MIL-OSI: Correction: Mandatory notice of trade in IDEX Biometrics – 22 July 2025

Source: GlobeNewswire (MIL-OSI)

Reference is made to IDEX Biometrics ASA’s disclosure on 21 July 2025 of a private placement of 9,090,909 shares at NOK 3.30 per share, split in two tranches. IDEX discloses the following information on behalf of primary insiders.

In tranche 1 of the private placement, total 4,731,594 shares :-

Pinchcliffe AS, a company closely related to CEO and CFO Anders Storbråten, subscribed to 739,360 shares, ISIN NO0013536078, at NOK 3.30 per share, and
K-konsult AS, a company closely related to chair Morten Opstad, subscribed to 128,156 shares, ISIN NO0013536078, at NOK 3.30 per share.

Contact person
Anders Storbråten, CEO and CFO
Tel: +47 4163 8582
E-mail: ir@idexbiometrics.com

About IDEX Biometrics
IDEX Biometrics ASA (OSE: IDEX) is a global technology leader in fingerprint biometrics, offering authentication solutions across payments, access control, and digital identity. Our solutions bring convenience, security, peace of mind and seamless user experiences to the world. Built on patented and proprietary sensor technologies, integrated circuit designs, and software, our biometric solutions target card-based applications for payments and digital authentication. As an industry-enabler we partner with leading card manufacturers and technology companies to bring our solutions to market.

For more information, visit www.idexbiometrics.com

About this notice
This correcting notice was issued by Erling Svela, Vice president of finance, on 23 July 2025 at 11:25 CET on behalf of IDEX Biometrics ASA. The information shall be disclosed according to article 19 no. 3 of the EU Market Abuse Regulation (EU 596/2014) and published in accordance with section 5‑12 of the Norwegian Securities Trading Act.

The MIL Network –

July 23, 2025
MIL-OSI United Kingdom: Folkestone business wins US contract through $475,000 UK Export Finance deal
Source: United Kingdom – Executive Government & Departments

Press release

Folkestone business wins US contract through $475,000 UK Export Finance deal

UKEF announces its support for British engineering firm Dyrhoff, enabling the company to supply key components for a large-scale water management project in the United States.
A water control gate installed by Dyrhoff in Scotland. Image provided by Dyrhoff

Dyrhoff, a Folkestone-based provider of water control gates, has recently won a major export contract following support from UK Export Finance (UKEF) and NatWest.

The business is supporting a flood protection project in North Dakota, using both UK and internationally manufactured parts.

Dyrhoff, a provider of water control gates, has won a major contract to deliver two pneumatically operated spillway gates for a flood protection project in North Dakota, USA, following support from a government financing scheme.

Throughout its more than 30 years, the business has specialised in the design and supply of inflatable rubber dams and spillway gates. These gates can be used to reduce flood risk and aid water regulation.

In line with the government’s Plan for Change and its mission to kickstart economic growth, UKEF guaranteed a $475,000 finance facility to be issued by NatWest. This facility enabled Dyrhoff to meet the bonding terms required to win the contract in North Dakota.

Dyrhoff works with UK and international partners to engineer and manufacture parts which are subsequently assembled at the project location. The majority of Dyrhoff’s business originates from overseas contracts, contributing to 156 projects in over 33 countries, including USA, Italy, Canada, Norway, Turkey, Portugal and Indonesia.

Although Dyrhoff is a seasoned exporter, the financial support provided by UKEF has enabled the business to win one of its largest contracts to date.

As a result of the North Dakota deal and other successful contracts, Dyrhoff is now planning to increase staff numbers at its manufacturing facility in Folkestone, Kent.

Don Mason, Director at Dyrhoff said:

We have been providing market-leading rubber dam and spillway solutions since 1989, but the support afforded by UKEF has enabled us to set our sights on an exciting overseas growth opportunity.

By assisting us in winning such a significant project for the business, UKEF support has set us up to carry on building momentum in key markets like the USA. Despite economic uncertainty in the market, we are now well placed to use this project as a springboard for success.

Lisa Maddison-Brown, Kent, East Sussex and West Sussex Export Finance Manager at UKEF said:

We are really pleased to be able to assist a business which maintains a focus on developing critical infrastructure to keep areas safe from flooding. A key goal of ours is to continue placing British engineering at the heart of vital projects worldwide, and Dyrhoff is helping to do just that.

Ellie Morrison, Trade Finance Manager at NatWest commented:

I’m delighted to announce NatWest’s Trade Finance support for Dyrhoff, as they secure a significant export contract creating impactful engineering solutions that serve a crucial international and domestic purpose.

The financing package has equipped Dyrhoff to meet essential bonding requirements, thereby enabling the company to secure and mobilise on this project. This partnership, facilitated with the support of UK Export Finance, aligns with NatWest’s commitments to foster the growth of UK-based businesses and contributing to vital infrastructure projects worldwide.

Dyrhoff are a great example of a successful UK exporter and NatWest is proud to support the business with the financial solutions they need to thrive globally.

News of Dyrhoff’s success follows on from the recent publication of UKEF’s Annual Reports and Accounts for 2024/25. The department provided £14.5 billion in loans, guarantees and insurance in support of exporters of all sizes and supported up to 70,000 jobs.

Contact

Media enquiries:

Email newsdesk@ukexportfinance.gov.uk

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Published 23 July 2025
MIL OSI United Kingdom –
July 23, 2025
MIL-OSI Russia: The Ministry of Economic Development will act as a strategic partner of the Russian Creative Week

Translation. Region: Russian Federal

Source: Ministry of Economic Development (Russia) – Ministry of Economic Development (Russia) –

An important disclaimer is at the bottom of this article.

The Ministry of Economic Development of Russia has become a strategic partner of the Russian Creative Week. The forum will be held in Moscow on September 25–27 at the Russia National Center. The initiator and organizer of the event is the Creative Economy ANO.

The Ministry of Economic Development of the Russian Federation carries out functions to develop state policy and improve the regulatory framework in the creative economy, and is also engaged in developing a long-term strategy for the development of this sector.

The cooperation between the Ministry of Economic Development of Russia and the ANO “Creative Economy” will allow for a comprehensive discussion of the draft strategy – the fundamental document at the site of the “Russian Creative Week”, key issues in the field of creative economy at the federal level, and to attract the attention of entrepreneurs to the issues of developing creative industries.

“The development of the creative economy requires a systematic approach and consideration of the positions of all participants in the process: the state, business and industry associations. The forum will create a space for uniting these views and developing joint solutions,” commented Deputy Minister of Economic Development of Russia Tatyana Ilyushnikova.

President of the ANO “Creative Economy” Marina Mongush emphasized: The Ministry of Economic Development has launched the process of preparing a document that will determine how this sector will develop until 2030.

“We are actively working with colleagues, with departments, with the expert community so that the strategy takes into account not only the economic, but also the socio-cultural, value-oriented approach to the creative economy. The Russian Creative Week forum will give our joint work with the Ministry of Economic Development an additional impetus,” believes the president of the ANO Creative Economy.

“Russian Creative Week” has become an effective tool for the development of the industry as a whole – this is acknowledged by experts, noting that the forum gives a powerful impetus to the growth of regional “experience economies”.

“It is important for people to be part of something big, and not just stand at a machine or work in a bank branch. It is important for everyone to build their own temple and feel involved in big goals, and it is the value-oriented approach that gives this feeling and distinguishes one community of people from all the others, both in the example of a separate company and in the example of the country,” emphasized the head of the Presidential Administration for Public Projects of the Russian Federation, Sergei Novikov.

Partners of the Festival-Forum “Russian Creative Week”:

Official partners: Rostec State Corporation, Andrey Melnichenko Charitable Foundation.

Business partner: Aluminum Association.

Business program partner: Prosveshchenie Group of Companies.

Participating regions: Moscow, the Republic of Bashkortostan, Krasnoyarsk Krai, Nizhny Novgorod, Chelyabinsk, Tula regions.

Please note: This information is raw content obtained directly from the source of the information. It is an accurate report of what the source claims and does not necessarily reflect the position of MIL-OSI or its clients.

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MIL OSI Russia News –

July 23, 2025
MIL-OSI Russia: Yuri Trutnev: The Zabaikalsky Krai exposition on the “Far East Street” within the framework of the EEF will link technological innovations and the cultural heritage of the region

Translation. Region: Russian Federal

Source: Government of the Russian Federation – Government of the Russian Federation –

An important disclaimer is at the bottom of this article.

The Zabaikalsky Krai pavilion at the Far East Street exhibition, which will be held in Vladivostok from September 3 to 9 as part of the tenth anniversary Eastern Economic Forum, will present cutting-edge technologies, and its design will reflect a deep connection with the natural and cultural heritage of the region. The exhibition is organized by the Roscongress Foundation with the support of the Office of the Plenipotentiary Representative of the President of the Russian Federation in the Far Eastern Federal District.

“Zabaikalsky Krai is actively developing and is among the leaders in terms of investment growth rates. In order to create favorable conditions for investors, the territory of advanced development “Zabaikalsky Krai” has been formed, and financial and infrastructural support measures are in place. It is equally important that the social sphere develops and urban spaces are transformed. Social infrastructure is being developed with the help of a single presidential subsidy allocated through the Ministry for the Development of the Russian Far East. Special tools have been introduced – “Far Eastern mortgage” and “Far Eastern hectare”. Construction of large facilities has begun according to the master plans of the cities of Chita and Krasnokamensk. But the most important thing is that wages are growing in Zabaikalsky Krai, a large number of jobs are being created. The pavilion exposition will tell visitors about this and much more,” said Deputy Prime Minister – Presidential Plenipotentiary Representative in the Far Eastern Federal District, Chairman of the Organizing Committee of the Eastern Economic Forum Yuri Trutnev.

The Zabaikalsky Krai pavilion is a synthesis of natural grandeur, cultural heritage and high technology. The architectural appearance of the stand was created using modern forms and materials. Interactive zones, spectacular media facades and art objects give the guest the opportunity to take part in an immersive journey into the world of possibilities of the region.

“We strive to show not only the economic potential of the region, but also its cultural wealth, historical values, and natural beauty. Our pavilion will combine advanced technologies, cultural heritage, and the rich history and nature of Zabaikalsky Krai. Traditionally, we will present the works of our fellow countrymen, whose names are known throughout the world. I am confident that the Zabaikalsky Pavilion will become a source of inspiration and new ideas for all visitors, and will awaken the desire to come to our sunny region,” emphasized the Governor of Zabaikalsky Krai, Alexander Osipov.

The entrance to the Zabaikalsky pavilion will be decorated with a monumental 9.5-meter composition “Solar Myth” by the artist and sculptor Dashi Namdakov. The avant-garde art object depicts a mighty Siberian elk made of bronze, whose antlers form a solar halo – a symbol of the cultural heritage and natural energy of the region.

In the “Investment Projects of Zabaikalsky Krai” zone, the leading enterprises of the region will be presented using modern technologies. Visitors can expect multimedia holographic and panoramic projections, as well as interactive panels that will demonstrate the achievements of the region in industry and culture. Particular attention will be paid to the largest investors – “Udokan Copper” and Bystrinsky Mining and Processing Plant. Panoramic screens and controllers will allow users to control the virtual space, creating the effect of full immersion and emphasizing the importance of these enterprises for the economy of Zabaikalsky Krai.

The “Achievements of the Zabaikalsky Krai in 10 Years” platform will show how the development plans of Chita and Krasnokamensk are being implemented. The main feature of the zone is an interactive wall: by touching special tags, guests will see interesting images and will have the opportunity to take bright photos for social networks.

In the “Tourism Potential” zone, visitors will be able to find out where to go and where to stay in Zabaikalsky Krai. The region’s tourism opportunities will be presented through a projection table and an interactive “mandala”.

A separate zone “80 Years of Victory” will be dedicated to the exploits and achievements during the Great Patriotic War, as well as the heroes and events of the special military operation. The exhibition will use augmented reality technologies, allowing you to see biographical materials about the participants of the Great Patriotic War and the SVO.

In addition, the pavilion will house a museum area, where works of art and historical artifacts will be displayed. Special design will create an atmosphere of comfort and respect, allowing visitors to better feel the value of the cultural heritage of Transbaikalia. The exhibition will become a kind of bridge between the past and the present, demonstrating the richness of the history and art of the region.

On the street near the pavilion, products from the Transbaikal producers “Vkusy Zabaikalya” and “Sdelano v Zabaikalye” will be presented. On the large stage of “Ulitsa Dalnego Vostok”, the municipal theater of song and dance “Zabaikalye” will present the musical performance “Song of the Family”.

Live music performed by the orchestra of the national song and dance theater “Amar Sain” will be heard near the Zabaikalsky stand, soloists of the vocal group “Forte” and the youth dance group “Klyukva” will perform. Also, guests of the pavilion will be able to participate in making dolls in national costumes, an art master class “Drawing together” and painting a memorable souvenir.

The 10th Eastern Economic Forum will be held on September 3–6 at the campus of the Far Eastern Federal University in Vladivostok. During these days, the exhibition will be available to forum participants, and on September 7, 8, and 9, it will be open to everyone. The EEF is organized by the Roscongress Foundation.

Please note: This information is raw content obtained directly from the source of the information. It is an accurate report of what the source claims and does not necessarily reflect the position of MIL-OSI or its clients.

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MIL OSI Russia News –

July 23, 2025

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Jobs unlocked as first wave of hydrogen projects sign contracts

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Folkestone business wins US contract through $475,000 UK Export Finance deal

Don Mason, Director at Dyrhoff said:

Lisa Maddison-Brown, Kent, East Sussex and West Sussex Export Finance Manager at UKEF said:

Ellie Morrison, Trade Finance Manager at NatWest commented:

Contact

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