Category: Economy

MIL-OSI Europe: Iceland: Sidekick Health Secures €35 Million Venture Debt from EIB to Accelerate R&D and Global Expansion
Source: European Investment Bank
- The European Investment Bank (EIB) has signed a €35 million venture debt facility with Sidekick Health, a leading digital health and therapeutics company operating across Europe and the US.
- The funding will accelerate Sidekick’s therapy development and AI-driven platform innovation across multiple chronic and specialty care areas.
- The R&D-focused facility is backed by the European Commission’s InvestEU initiative and complemented by a €7M capital injection from existing and new investors to accelerate Sidekick’s commercial growth.
The European Investment Bank (EIB) and Sidekick Health — a global leader in integrated digital health and therapeutics — today announced the signing of a €35 million venture debt facility, backed by a dedicated life science venture debt window of the European Commission’s InvestEU programme. It provides Sidekick with dedicated capital to accelerate R&D activities, expand its digital therapeutics portfolio, enhance AI capabilities, and strengthen its data and platform infrastructure — delivering scalable, secure, and impactful solutions for patients, payers, and pharmaceutical partners worldwide. The agreement represents the EIB Group’s first venture debt transaction in Iceland, where Sidekick is headquartered.

In parallel, Sidekick closed an additional €7M growth-focused financing, reflecting strong investor confidence and providing additional capital to scale its commercial footprint and strategic partnerships.

At the signing ceremony today in Luxembourg, Tryggvi Thorgeirsson, MD, MPH, CEO and Co-Founder of Sidekick Health, commented:

“This strategic financing from the EIB enables us to double down on our mission to improve and save lives by digitizing care. It strengthens our ability to invest in R&D, therapy development, and AI, while focusing future equity on scaling our commercial impact. Together with the strong backing of our investors, our diversified funding strategy — now including non-dilutive venture debt — positions Sidekick to accelerate innovation, deepen our partnerships, and continue transforming healthcare at scale.”

Thomas Östros, Vice-President of the EIB, said:

“The EIB has a solid track record in financing European med-tech companies through its venture debt instrument. The competitiveness of these companies is very important for our EU strategic autonomy. This is already the fifth InvestEU project in Iceland, building on a long tradition of EU-guaranteed funding for Icelandic projects.”

Sidekick partners with leading pharmaceutical companies, health insurers, and healthcare providers to deliver AI-enhanced digital health and therapeutics solutions across chronic and specialty care, including oncology, cardiovascular, metabolic, women’s health, and inflammatory conditions. The company’s platform has demonstrated improved patient outcomes and supported cost reduction in collaboration with partners, helping drive the shift toward personalized, proactive care.

EU Ambassador to Iceland Clara Ganslandt added:

“It was only in January last year, 2024, that Iceland’s participation in InvestEU was formally launched but we now already have five InvestEU projects in Iceland. That is certainly worth celebrating. The EU is committed to fuelling research and innovation and making use of impactful investments – in a world of increased global competition, it is in our common interest for Iceland and the European Union to work together. For three decades, since 1994, Icelandic organisations have been remarkably active, valued and successful participants in EU programmes, and Sidekick Health will certainly make this financing agreement a success.”

Background information

EIB

The European Investment Bank (ElB) is the long-term lending institution of the European Union, owned by its Member States. Built around eight core priorities, we finance investments that contribute to EU policy objectives by bolstering climate action and the environment, digitalisation and technological innovation, security and defence, cohesion, agriculture and bioeconomy, social infrastructure, high-impact investments outside the European Union, and the capital markets union.

The EIB Group, which also includes the European Investment Fund (EIF), signed nearly €89 billion in new financing for over 900 high -impact projects in 2024, boosting Europe’s competitiveness and security.

All projects financed by the EIB Group are in line with the Paris Climate Agreement, as pledged in our Climate Bank Roadmap. Almost 60% of the EIB Group’s annual financing supports projects directly contributing to climate change mitigation, adaptation, and a healthier environment.

Fostering market integration and mobilising investment, the Group supported a record of over €100 billion in new investment for Europe’s energy security in 2024 and mobilised €110 billion in growth capital for startups, scale-ups and European pioneers. Approximately half of the EIB’s financing within the European Union is directed towards cohesion regions, where per capita income is lower than the EU average.

High-quality, up-to-date photos of our headquarters for media use are available here.

InvestEU

The InvestEU programme provides the European Union with crucial long-term funding by leveraging substantial private and public funds in support of a sustainable economy. It helps generate additional investments in line with EU policy priorities, such as the European Green Deal, the digital transition and support for small and medium-sized enterprises. InvestEU brings all EU financial instruments together under one roof, making funding for investment projects in Europe simpler, more efficient and more flexible. The programme consists of three components: the InvestEU Fund, the InvestEU Advisory Hub, and the InvestEU Portal. The InvestEU Fund is implemented through financial partners who invest in projects using the EU budget guarantee of €26.2 billion. This guarantee increases their risk-bearing capacity, thus mobilising at least €372 billion in additional investment.

Sidekick Health

Sidekick Health is a digital health innovation company offering a uniquely broad portfolio of digital health and therapeutic programs across oncology, cardiovascular, metabolic, women’s health, and inflammatory conditions. Our solutions engage and empower people to improve health outcomes and quality of life. Sidekick works with health insurers, including leading national US health plans, pharmaceutical companies, including half of the world’s top 10 life sciences companies, and develops fully regulated prescription digital therapeutics — prescribed by over 17,000 physicians — designed to improve patient outcomes, enhance clinical efficiency, and reduce the cost of care.
MIL OSI Europe News –
May 1, 2025
MIL-OSI United Kingdom: Financial health notice to improve: Mary Ward Settlement

Source: United Kingdom – Executive Government & Departments

Correspondence

Financial health notice to improve: Mary Ward Settlement

A financial health notice to improve issued to Mary Ward Settlement.

Applies to England

Documents

Notice to improve: Mary Ward Settlement

PDF, 292 KB, 5 pages

Details

This letter and its annex serve as a notice to improve financial health at Mary Ward Settlement.

Updates to this page

Published 1 May 2025

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MIL OSI United Kingdom –

May 1, 2025
MIL-OSI United Kingdom: Our Manchester 2025-35: Our future, shaped by you
Source: City of Manchester

Over the past 10 years Manchester City Council has had big ambitions for our city.

From tackling inequalities in our society, and creating a vibrant city that people want to live and work in, to growing our reputation on the global stage as a leading city.

In the decade since the original Our Manchester plan was brought to life Manchester has been a city on the rise. More than 100,000 new people call the city home, more than 100,000 new jobs have been created, and Manchester is now one of the most important engines of growth in the UK and Europe.

More children did better in school and our residents became more qualified: nearly three quarters of our residents now have a college-level qualification, and far fewer have no qualification at all.

Through that decade, huge strides have been made to improve the lives of ordinary people, working in collaboration with a range of partners, from education and health, to business, emergency services and community and faith groups we began to shift the dial on hard long-term challenges.

Just a fraction of the things we have achieved together include:
- More schools, colleges and early years groups judged better than ever
- More pounds in workers’ pockets in our Real Living Wage City
- Investment to make people proud and safer on their streets in neighbourhoods like Ancoats, Beswick, Collyhurst, Miles Platting, New Islington and Wythenshawe
- We are now building more affordable homes than at any point in the last decade
- Skills and better education for people to get on and do well in our City of Lifelong Learning and Child Friendly City
- The opening of Aviva Studios and Co-op Live (the largest indoor venue in the UK) and global cultural events such as the Chanel Métiers D’Art show, all of which showcase the fantastic place Manchester is for our partners to promote and develop art, sport and culture
But, there is more work to be done. 10 years is no time at all when it comes to addressing the long-term issues which still hold people back and prevent everyone from sharing in the prosperity that Manchester has to offer.

This is why today, we are launching the next 10-year plan for Our Manchester, bigger and bolder than before, presenting the ambitious vision for 2025-2035.

During this coming decade the Council will lead the charge for Manchester to become an even better city, to continue to address issues such as inequality, fostering growth that benefits everyone, tackling the housing crisis so that everyone in Manchester can enjoy affordable, low-carbon housing, continuing to push towards becoming a zero-carbon city by 2038, and creating green and clean neighbourhoods that everyone can enjoy.

A list of 12 priorities have been set that will guide the Council’s policies over the next 10 years. Broadly they fit into three categories on what we can do to improve the lives of the people who live here, the neighbourhoods in which we live, and the ambitions we have for our city.

Priorities 1 to 5. Our People will be:
1. Happy, healthy and active from childhood
2. Well educated, learning new skills throughout life to get the best jobs
3. Proud of our diversity, feeling valued and included
4. Participants influencing decisions
5. Safe – in person and online
Priories 6 and 7 are for all Our Neighbourhoods to have:

6. Enough good quality, genuinely affordable homes

7. Attractive, well-kept areas with good facilities, public services and green spaces

Priorities 8 to 12 are for Our City to have:

8. A growing economy with jobs and fair opportunities for all

9. Ways to adapt to climate change and cut our carbon emissions

10. World-renowned things for everyone to see and do, showcasing our passion for sport and culture

11. Reliable transport that’s quick, cheap, safe and clean

12. Technology to achieve our aims, safely and ethically

Councillor Bev Craig, Leader of Manchester City Council said: “Over the last 10 years we have seen tremendous things happen in Manchester, things which have well and truly put us on the global stage as a city and put us in an incredibly strong position to keep growing over the coming decade.

“We are incredibly confident that the next 10 years will be our best yet.

“Building on strong foundations we want Manchester to the best place in the country to grow up, live well and live happy, successful lives. We will tackle inequality and health inequity, deliver our ambitious housing plan to build tens of thousands of homes, create over 100,000 new jobs, invest and improve our neighbourhoods, invest in better transport and digital connections and build a more sustainable city.

“Manchester has seen significant change over the last decade, and today we are setting out our deliberately ambitious strategy for our collective future, and an action plan to power us through the next 10 years. It is a plan that will improve our city as well as the everyday lives of our residents. Getting to this stage has been a long process, and we have heard to more than 10,000 Mancunian voices about their hopes and dreams for our city.

“Together we will create a city that is a joy to live and work in and where Mancunians, both home-grown and adopted, that is demonstrably better in 2035 and everyone feels proud of.”
MIL OSI United Kingdom –
May 1, 2025
MIL-OSI Europe: Finland: Helsinki to get new tramline and a depot with €400 million EIB package
Source: European Investment Bank
- EIB lends total of €400 million to Helsinki and its transport company to build tram connection to eastern suburbs.
- The project also features new pathways for cyclists and pedestrians, includes the construction of a new tram and bus depot for Helsinki, and involves acquiring new trams for the city’s entire network.
- Three major bridges to be built for new tramline.
The European Investment Bank (EIB) is providing a €400 million financing package to help the Finnish capital Helsinki build a tramline to three suburbs, construct a new tram and bus depot, purchase new trams, and add pathways for cyclists and pedestrians. The EIB support involves loans of €150 million to the City of Helsinki and €250 million to metropolitan transport company Metropolitan Area Transport Ltd (Pääkaupunkiseudun Kaupunkiliikenne Oy) for the “Crown Bridges Light Rail” project.

The goals are to extend Helsinki’s tram system to the eastern suburbs of Laajasalo, Korkeasaari and Kalasatama with a new line that will halve travel times to 20 minutes and to increase the city’s bike and pedestrian paths. The project is due to be completed by 2027.

“Investing in sustainable transport is a priority for the EIB and provides a key step toward advancing climate action and enhancing connectivity in the city,” said EIB Vice-President Thomas Östros. “This project will play an important role in improving the quality of life for Helsinki’s residents.”

Crown Bridges Light Rail reflects a commitment by Helsinki, which has a population of 685,000, to expand clean public transport. That step should in turn stimulate urban development and regeneration.
Because Laajasalo and Korkeasaari are islands – Helsinki has around 300 of them – the project features three major bridges over which the new tramline will travel. The longest, Kruunuvuorensilta Bridge, will be 1,200 metres and have a pylon rising to 135 metres. The two other bridges – Merihaansilta and Finkensilta – will have lengths of 400 metres and 300 metres, respectively.

All three bridges will have bike lanes that are three metres wide and pedestrian pavements with widths of between two and six metres.

The project includes constructing Helsinki’s Ruskeasuo depot, Finland’s first combined tram and bus depot. It offers storage for about 80 trams, daily maintenance and repair facilities, and a wheel lathe track. The depot also serves regional bus traffic, with roof parking and maintenance spaces for buses.

The EIB financing covers 40% of the project costs and will go towards building the tramline and the depot as well as buying new tram sets.

The support aligns with EIB pledges to advance efforts in Europe to reduce greenhouse gas emissions and improve air quality.

Background information

The European Investment Bank (ElB) is the long-term lending institution of the European Union, owned by its Member States. Built around eight core priorities, the EIB finances investments that contribute to EU policy objectives by bolstering climate action and the environment, digitalisation and technological innovation, security and defence, cohesion, agriculture and the bioeconomy, social infrastructure, the capital markets union and a stronger Europe in a more peaceful and prosperous world. 

The EIB Group, which also includes the European Investment Fund (EIF), signed nearly €89 billion in new financing for over 900 high-impact projects in 2024, boosting Europe’s competitiveness and security.   

In 2024, EIB Group investments in Finland rose to €2.3 billion from €992 million the year before, focusing on green projects and business innovation.
MIL OSI Europe News –
May 1, 2025
MIL-OSI Europe: Answer to a written question – The death of three minors at the Bulgarian border – E-000665/2025(ASW)
Source: European Parliament
1. The Commission stresses that efficient border management must uphold fundamental rights, including human dignity and the principle of non-refoulement. In light of the tragic death of three minors at the Bulgarian border, the Commission notes that it is the responsibility of the Bulgarian authorities to investigate allegations of wrongdoings and ensure accountability. While national authorities are tasked with these investigations, the Commission is in regular contact with Bulgaria to discuss border and migration management issues, including full respect of fundamental rights[1].

2. The 2021-27 Border Management and Visa Instrument[2], governed by the Common Provisions Regulation[3], requires Member States to meet horizontal enabling conditions (HECs), one of which relates to the mechanisms for ensuring compliance with the Charter of Fundamental Rights (the Charter). Bulgaria, as all Member States, must demonstrate HEC compliance at the programme’s adoption and implementation[4]. If the Charter HEC is no longer fulfilled at the level of relevant specific objective, the Commission will not reimburse affected expenditure.

3. The 2023 Facilitation Directive proposal[5] explicitly sets out that the elements of the offences included therein are usually not fulfilled when it comes to the provision of humanitarian assistance or the support of basic human needs. The directive does not aim to criminalise humanitarian aid provided to third-country nationals in line with legal obligations.

[1] This engagement includes closely working with the Bulgarian authorities to reinforce the national independent mechanism to monitor fundamental rights compliance at the external borders. The issue was covered within the framework of the Pilot Project for fast asylum and return procedures (https://home-affairs.ec.europa.eu/reporting-results-pilot-project-fast-asylum-and-return-procedures-bulgaria_en) and has been reinforced under the Cooperation Framework with Bulgaria on border ad migration management (https://home-affairs.ec.europa.eu/document/download/07649e14-1d49-48f1-a08a-9f8d8b9d4e9e_en?filename=Cooperation%20framework%20between%20the%20European%20Commission%2C%20the%20EU%20agencies%20and%20the%20Republic%20of%20Bulgaria_en.pdf&prefLang=it).

[2] Regulation (EU) 2021/1148 of the European Parliament and of the Council of 7 July 2021 establishing, as part of the Integrated Border Management Fund, the Instrument for Financial Support for Border Management and Visa Policy.

[3] Regulation (EU) 2021/1060 of the European Parliament and of the Council of 24 June 2021 laying down common provisions on the European Regional Development Fund, the European Social Fund Plus, the Cohesion Fund, the Just Transition Fund and the European Maritime, Fisheries and Aquaculture Fund and financial rules for those and for the Asylum, Migration and Integration Fund, the Internal Security Fund and the Instrument for Financial Support for Border Management and Visa Policy.

[4] Bulgaria, like all Member States, had to justify that it fulfils all HECs at the adoption of the programme and during the implementation of the programme has put in place measures to ensure the respect of fundamental rights for all projects funded. The Commission has frequent exchanges with the Bulgarian Managing Authority in charge of BMVI. HECs are discussed in Monitoring Committee meetings, during technical level exchanges, and are reported on in the Annual Performance Report.

[5] Proposal for a directive of the European Parliament and of the Council laying down minimum rules to prevent and counter the facilitation of unauthorised entry, transit and stay in the Union, and replacing Council Directive 2002/90/EC and Council Framework Decision 2002/946 JHA, 28.11.2023, COM(2023) 755 final, Recital 7.
Last updated: 29 April 2025
MIL OSI Europe News –
May 1, 2025
MIL-OSI Europe: Answer to a written question – EU contributions to various foundations – E-000345/2025(ASW)
Source: European Parliament
The Commission does not finance private foundations of the United States, including the Bill Gates Foundation. The Commission contributes (as many EU Member States and other major donors) to independent multi-partner global funds and initiatives of which the Bill and Melinda Gates foundation is also often a major investor.

In respect of the EU’s Financial Regulation[1], EU development funding implemented by foundations or other civil society organisations (CSOs) is awarded through competitive calls for proposals. Recourse to an award of a grant without a call for proposals can be justified only in exceptional cases.

All development projects funded by the EU and implemented by CSOs are subject to strict and rigorous monitoring and reporting procedures on an annual basis.

The EU projects, implemented by foundations or CSOs, are subject to audits and/or a specific result-oriented monitoring to ensure the attainment of agreed results. The reporting from all projects at corporate level allows for assessment of their impact through analysis of results and indicators.

[1] https://op.europa.eu/en/publication-detail/-/publication/990fe2a6-8f52-11ef-a130-01aa75ed71a1/language-en
Last updated: 29 April 2025
MIL OSI Europe News –
May 1, 2025

MIL-OSI: Oaktree Specialty Lending Corporation Announces Second Fiscal Quarter 2025 Financial Results

Source: GlobeNewswire (MIL-OSI)

LOS ANGELES, CA, May 01, 2025 (GLOBE NEWSWIRE) — Oaktree Specialty Lending Corporation (NASDAQ: OCSL) (“Oaktree Specialty Lending” or the “Company”), a specialty finance company, today announced its financial results for the fiscal quarter ended March 31, 2025.

Financial Highlights for the Quarter Ended March 31, 2025

Total investment income was $77.6 million ($0.90 per share) for the second fiscal quarter of 2025, as compared with $86.6 million ($1.05 per share) for the first fiscal quarter of 2025. Adjusted total investment income was $77.2 million ($0.90 per share) for the second fiscal quarter of 2025, as compared with $87.1 million ($1.06 per share) for the first fiscal quarter of 2025. The decrease was driven by lower interest income, which was primarily attributable to a smaller average investment portfolio, the impact of certain investments that were placed on non-accrual status and decreases in reference rates.

GAAP net investment income was $39.1 million ($0.45 per share) for the second fiscal quarter of 2025, as compared with $44.3 million ($0.54 per share) for the first fiscal quarter of 2025. The decrease for the quarter was primarily driven by lower total investment income, partially offset by lower interest expense and income-based (“Part I”) incentive fees (net of fees waived).

Adjusted net investment income was $38.7 million ($0.45 per share) for the second fiscal quarter of 2025, as compared with $44.7 million ($0.54 per share) for the first fiscal quarter of 2025. The decrease for the quarter was primarily driven by lower adjusted total investment income, partially offset by lower interest expense and lower Part I incentive fees (net of fees waived).

Net asset value (“NAV”) per share was $16.75 as of March 31, 2025, down as compared with $17.63 as of December 31, 2024. The decline from December 31, 2024 primarily reflected losses on certain debt and equity investments.

Originated $407.0 million of new investment commitments and received $279.4 million of proceeds from prepayments, exits, other paydowns and sales during the quarter ended March 31, 2025. The weighted average yield on new debt investments was 9.5%.

Total debt outstanding was $1,470.0 million as of March 31, 2025. The total debt to equity ratio was 1.00x, and the net debt to equity ratio was 0.93x, after adjusting for cash and cash equivalents.

Oaktree Capital I, L.P. purchased $100.0 million of shares of OCSL common stock on February 3, 2025 at the Company’s net asset value as of January 31, 2025, which was $17.63 per share and represented a 10% premium to the closing stock price.

The Company issued $300 million of unsecured notes during the quarter ended March 31, 2025 that mature on February 27, 2030 and bear interest at a rate of 6.340%. In connection with the issuance of the 2030 Notes, the Company entered into an interest rate swap agreement under which the Company receives a fixed interest rate of 6.340% and pays a floating interest rate of the three-month SOFR plus 2.192% on a notional amount of $300.0 million. Additionally, the Company repaid $300 million of unsecured notes that matured on February 25, 2025.

Liquidity as of March 31, 2025 was composed of $97.8 million of unrestricted cash and cash equivalents and over $1.0 billion of undrawn capacity under the Company’s credit facilities (subject to borrowing base and other limitations). Unfunded investment commitments were $299.8 million, or $272.6 million excluding unfunded commitments to the Company’s joint ventures. Of the $272.6 million, approximately $252.0 million can be drawn immediately with the remaining amount subject to certain milestones that must be met by portfolio companies or other restrictions.

A quarterly and supplemental cash distribution was declared of $0.40 per share and $0.02 per share, respectively, payable in cash on June 30, 2025 to stockholders of record on June 16, 2025.

“Certain challenged portfolio company investments weighed on our results in the second quarter. We are focused on resolving these issues while also positioning our portfolio to deliver more consistent performance going forward,” stated Armen Panossian, Chief Executive Officer and Co-Chief Investment Officer.

“We are focused on further diversifying our portfolio by selectively investing in companies we believe are well positioned to deliver attractive returns given overall market uncertainty caused by tariffs, inflation and high interest rates. Historically, in periods of market volatility, our firm-wide DNA has enabled us to capitalize on opportunities while others are sidelined, and we have ample dry powder for new investments.”

Distribution Declaration

The Board of Directors declared a quarterly distribution of $0.40 per share, payable in cash on June 30, 2025 to stockholders of record on June 16, 2025. The Board of Directors also declared a supplemental distribution of $0.02 per share, payable in cash on June 30, 2025 to stockholders of record on June 16, 2025.

Distributions are paid primarily from distributable (taxable) income. To the extent taxable earnings for a fiscal taxable year fall below the total amount of distributions for that fiscal year, a portion of those distributions may be deemed a return of capital to the Company’s stockholders.

Results of Operations

	For the three months ended
($ in thousands, except per share data)	March 31, 2025 (unaudited)			December 31, 2024 (unaudited)			March 31, 2024 (unaudited)
GAAP operating results:
Interest income	$	70,523		$	78,422		$	85,256
PIK interest income		4,531			5,728			4,816
Fee income		1,742			1,679			2,546
Dividend income		772			818			1,411
Total investment income		77,568			86,647			94,029
Net expenses		38,235			42,082			52,662
Net investment income before taxes		39,333			44,565			41,367
(Provision) benefit for taxes on net investment income		(278	)		(263	)		—
Net investment income		39,055			44,302			41,367
Net realized and unrealized gains (losses), net of taxes		(75,304	)		(37,063	)		(32,030	)
Net increase (decrease) in net assets resulting from operations	$	(36,249	)	$	7,239		$	9,337
Total investment income per common share	$	0.90		$	1.05		$	1.18
Net investment income per common share	$	0.45		$	0.54		$	0.52
Net realized and unrealized gains (losses), net of taxes per common share	$	(0.88	)	$	(0.45	)	$	(0.40	)
Earnings (loss) per common share — basic and diluted	$	(0.42	)	$	0.09		$	0.12
Non-GAAP Financial Measures¹:
Adjusted total investment income	$	77,195		$	87,070		$	97,340
Adjusted net investment income	$	38,682		$	44,725		$	44,678
Adjusted net realized and unrealized gains (losses), net of taxes	$	(75,248	)	$	(37,124	)	$	(35,344	)
Adjusted earnings (loss)	$	(36,566	)	$	7,601		$	9,334
Adjusted total investment income per share	$	0.90		$	1.06		$	1.22
Adjusted net investment income per share	$	0.45		$	0.54		$	0.56
Adjusted net realized and unrealized gains (losses), net of taxes per share	$	(0.88	)	$	(0.45	)	$	(0.44	)
Adjusted earnings (loss) per share	$	(0.43	)	$	0.09		$	0.12

¹ See Non-GAAP Financial Measures below for a description of the non-GAAP measures and the reconciliations from the most comparable GAAP financial measures to the Company’s non-GAAP measures, including on a per share basis. The Company’s management uses these non-GAAP financial measures internally to analyze and evaluate financial results and performance and believes that these non-GAAP financial measures are useful to investors as an additional tool to evaluate ongoing results and trends for the Company and to review the Company’s performance without giving effect to non-cash income/gain/loss resulting from the merger of Oaktree Strategic Income Corporation (“OCSI”) with and into the Company in March 2021 (the “OCSI Merger”) and the merger of Oaktree Strategic Income II, Inc. (“OSI2”) with and into the Company in January 2023 (the “OSI2 Merger”) and, in the case of adjusted net investment income, without giving effect to capital gains incentive fees. The presentation of non-GAAP measures is not intended to be a substitute for financial results prepared in accordance with GAAP and should not be considered in isolation.

	As of
($ in thousands, except per share data and ratios)	March 31, 2025 (unaudited)			December 31, 2024 (unaudited)			March 31, 2024 (unaudited)
Select balance sheet and other data:
Cash and cash equivalents	$	97,838		$	112,913		$	125,031
Investment portfolio at fair value		2,892,771			2,835,294			3,047,445
Total debt outstanding (net of unamortized financing costs)		1,448,486			1,577,795			1,635,642
Net assets		1,475,113			1,449,815			1,524,099
Total debt to equity ratio		1.00	x		1.11	x		1.10	x
Net debt to equity ratio		0.93	x		1.03	x		1.02	x

Adjusted total investment income for the quarter ended March 31, 2025 was $77.2 million and included $70.2 million of interest income from portfolio investments, $4.5 million of payment-in-kind (“PIK”) interest income, $1.7 million of fee income and $0.8 million of dividend income. The $9.9 million quarterly decline in adjusted total investment income was primarily due to a $9.9 million decrease in interest income, which was primarily attributable to a smaller average investment portfolio, the impact of certain investments that were placed on non-accrual status and decreases in reference rates.

Net expenses for the quarter ended March 31, 2025 totaled $38.2 million, down $3.8 million from the quarter ended December 31, 2024. The decrease for the quarter was primarily driven by $2.4 million of lower interest expense due to lower outstanding borrowings and lower reference rates on the Company’s floating rate debt and $1.5 million of lower Part I incentive fees (net of fees waived).

Adjusted net investment income was $38.7 million ($0.45 per share) for the quarter ended March 31, 2025, which was down from $44.7 million ($0.54 per share) for the quarter ended December 31, 2024. The decline of $6.0 million primarily reflected $9.9 million of lower adjusted total investment income, offset by $3.9 million of lower net expenses.

Adjusted net realized and unrealized losses, net of taxes, were $75.2 million for the quarter ended March 31, 2025.

Portfolio and Investment Activity

	As of
($ in thousands)	March 31, 2025 (unaudited)			December 31, 2024 (unaudited)			March 31, 2024 (unaudited)
Investments at fair value	$	2,892,771		$	2,835,294		$	3,047,445
Number of portfolio companies		152			136			151
Average portfolio company debt size	$	19,700		$	22,000		$	20,100

Asset class:
First lien debt		80.9	%		81.8	%		80.8	%
Second lien debt		3.4	%		3.0	%		5.4	%
Unsecured debt		5.0	%		3.9	%		2.6	%
Equity		4.6	%		4.8	%		4.8	%
JV interests		6.1	%		6.5	%		6.4	%

Non-accrual debt investments:
Non-accrual investments at fair value	$	125,643		$	105,326		$	69,128
Non-accrual investments at cost		217,401			138,703			127,720
Non-accrual investments as a percentage of debt investments at fair value		4.6	%		3.9	%		2.4	%
Non-accrual investments as a percentage of debt investments at cost		7.6	%		5.1	%		4.3	%
Number of investments on non-accrual		10			9			5

Interest rate type:
Percentage floating-rate		89.8	%		87.6	%		85.4	%
Percentage fixed-rate		10.2	%		12.4	%		14.6	%

Yields:
Weighted average yield on debt investments¹		10.2	%		10.7	%		12.2	%
Cash component of weighted average yield on debt investments		9.3	%		9.5	%		11.0	%
Weighted average yield on total portfolio investments²		9.8	%		10.2	%		11.7	%

Investment activity:
New investment commitments	$	407,000		$	198,100		$	395,600
New funded investment activity³	$	405,800		$	201,300		$	377,400
Proceeds from prepayments, exits, other paydowns and sales	$	279,400		$	352,400		$	322,600
Net new investments⁴	$	126,400		$	(151,100	)	$	54,800
Number of new investment commitments in new portfolio companies		24			5			20
Number of new investment commitments in existing portfolio companies		8			8			15
Number of portfolio company exits		8			13			15

¹ Annual stated yield earned plus net annual amortization of OID or premium earned on accruing investments, including the Company’s share of the return on debt investments in SLF JV I and Glick JV, and excluding any amortization or accretion of interest income resulting solely from the cost basis established by ASC 805 (see Non-GAAP Financial Measures below) for the assets acquired in connection with the OCSI Merger and OSI2 Merger.
² Annual stated yield earned plus net annual amortization of OID or premium earned on accruing investments and dividend income, including the Company’s share of the return on debt investments in SLF JV I and Glick JV, and excluding any amortization or accretion of interest income resulting solely from the cost basis established by ASC 805 for the assets acquired in connection with the OCSI Merger and OSI2 Merger.
³ New funded investment activity includes drawdowns on existing revolver and delayed draw term loan commitments.
⁴ Net new investments consists of new funded investment activity less proceeds from prepayments, exits, other paydowns and sales.

As of March 31, 2025, the fair value of the investment portfolio was $2.9 billion and was composed of investments in 152 companies. These included debt investments in 131 companies, equity investments in 40 companies, and the Company’s joint venture investments in SLF JV I and OCSI Glick JV LLC (“Glick JV”). 21 of the equity investments were in companies in which the Company also had a debt investment.

As of March 31, 2025, 94.9% of the Company’s portfolio at fair value consisted of debt investments, including 80.9% of first lien loans, 3.4% of second lien loans and 10.6% of unsecured debt investments, including the debt investments in SLF JV I and Glick JV. This compared to 81.8% of first lien loans, 3.0% of second lien loans and 9.6% of unsecured debt investments, including the debt investments in SLF JV I and Glick JV, as of December 31, 2024.

As of March 31, 2025, there were ten investments on non-accrual status, which represented 7.6% and 4.6% of the debt portfolio at cost and fair value, respectively. As of December 31, 2024, there were nine investments on non-accrual status, which represented 5.1% and 3.9% of the debt portfolio at cost and fair value, respectively.

SLF JV I

The Company’s investments in SLF JV I totaled $128.6 million at fair value as of March 31, 2025, down 5.0% from $135.4 million as of December 31, 2024. The decrease was primarily driven by SLF JV I’s use of leverage and unrealized depreciation in the underlying investment portfolio.

As of March 31, 2025, SLF JV I had $374.7 million in assets, including senior secured loans to 52 portfolio companies. This compared to $344.9 million in assets, including senior secured loans to 42 portfolio companies, as of December 31, 2024. SLF JV I generated cash interest income of $3.2 million for the Company during the quarter ended March 31, 2025, down from $3.4 million in the prior quarter. In addition, SLF JV I generated dividend income of $0.7 million for the Company during the quarter ended March 31, 2025, flat from the prior quarter. As of March 31, 2025, SLF JV I had $73.0 million of undrawn capacity (subject to borrowing base and other limitations) on its $270 million senior revolving credit facility, and its debt to equity ratio was 1.3x.

Glick JV

The Company’s investments in Glick JV totaled $47.3 million at fair value as of March 31, 2025, down 4.6% from $49.6 million as of December 31, 2024. The decrease was primarily driven by Glick JV’s use of leverage and unrealized depreciation in the underlying investment portfolio.

As of March 31, 2025, Glick JV had $125.1 million in assets, including senior secured loans to 41 portfolio companies. This compared to $127.9 million in assets, including senior secured loans to 39 portfolio companies, as of December 31, 2024. Glick JV generated cash interest income of $1.3 million for the Company during the quarter ended March 31, 2025, down from $1.4 million in the prior quarter. As of March 31, 2025, Glick JV had $31.0 million of undrawn capacity (subject to borrowing base and other limitations) on its $100 million senior revolving credit facility, and its debt to equity ratio was 1.3x.

Liquidity and Capital Resources

As of March 31, 2025, the Company had total principal value of debt outstanding of $1,470.0 million, including $520.0 million of outstanding borrowings under its revolving credit facilities, $350.0 million of the 2.700% Notes due 2027, $300.0 million of the 7.100% Notes due 2029 and $300.0 million of the 6.340% Notes due 2030. The funding mix was composed of 35% secured and 65% unsecured borrowings as of March 31, 2025. The Company was in compliance with all financial covenants under its credit facilities as of March 31, 2025.

As of March 31, 2025, the Company had $97.8 million of unrestricted cash and cash equivalents and over $1.0 billion of undrawn capacity on its credit facilities (subject to borrowing base and other limitations). As of March 31, 2025, unfunded investment commitments were $299.8 million, or $272.6 million excluding unfunded commitments to the Company’s joint ventures. Of the $272.6 million, approximately $252.0 million could be drawn immediately with the remaining amount subject to certain milestones that must be met by portfolio companies or other restrictions. The Company has analyzed cash and cash equivalents, availability under its credit facilities, the ability to rotate out of certain assets and amounts of unfunded commitments that could be drawn and believes its liquidity and capital resources are sufficient to invest in market opportunities as they arise.

As of March 31, 2025, the weighted average interest rate on debt outstanding, including the effect of the interest rate swap agreements was 6.7%, up from 6.2% as of December 31, 2024, primarily driven by the impact of the repayment of the 3.500% Notes due 2025 and the issuance of the 6.340% Notes due 2030.

The Company’s total debt to equity ratio was 1.00x and 1.11x as of each of March 31, 2025 and December 31, 2024, respectively. The Company’s net debt to equity ratio was 0.93x and 1.03x as of each of March 31, 2025 and December 31, 2024, respectively.

Recent Developments

Syndicated Facility

On April 8, 2025, the Company entered into an amendment to its amended and restated senior secured credit facility (the “Syndicated Facility”), among other things, (1) generally reduce interest rate margins from 2.00% plus a SOFR adjustment (ranging between 0.11448% and 0.26161%) to 1.875% plus a SOFR adjustment of 0.10% on SOFR loans and from 1.00% to 0.875% plus a SOFR adjustment of 0.10% on alternate base rate loans, (2) remove the Consolidated Interest Coverage Ratio covenant, (3) decrease the facility size from $1.218 billion to $1.160 billion, (4) increase the “accordion” feature to allow expansion of the facility to $1.50 billion, and (5) extend the reinvestment period and final maturity date to April 8, 2029, and April 8, 2030, respectively.

Non-GAAP Financial Measures

On a supplemental basis, the Company is disclosing certain adjusted financial measures, each of which is calculated and presented on a basis of methodology other than in accordance with GAAP (“non-GAAP”). The Company’s management uses these non-GAAP financial measures internally to analyze and evaluate financial results and performance and believes that these non-GAAP financial measures are useful to investors as an additional tool to evaluate ongoing results and trends for the Company and to review the Company’s performance without giving effect to non-cash income/gain/loss resulting from the OCSI Merger and the OSI2 Merger and in the case of adjusted net investment income, without giving effect to capital gains incentive fees. The presentation of the below non-GAAP measures is not intended to be a substitute for financial results prepared in accordance with GAAP and should not be considered in isolation.

“Adjusted Total Investment Income” and “Adjusted Total Investment Income Per Share” – represents total investment income excluding any amortization or accretion of interest income resulting solely from the cost basis established by ASC 805 (see below) for the assets acquired in connection with the OCSI Merger and the OSI2 Merger.

“Adjusted Net Investment Income” and “Adjusted Net Investment Income Per Share” – represents net investment income, excluding (i) any amortization or accretion of interest income resulting solely from the cost basis established by ASC 805 (see below) for the assets acquired in connection with the OCSI Merger and the OSI2 Merger and (ii) capital gains incentive fees (“Part II incentive fees”).

“Adjusted Net Realized and Unrealized Gains (Losses), Net of Taxes” and “Adjusted Net Realized and Unrealized Gains (Losses), Net of Taxes Per Share” – represents net realized and unrealized gains (losses) net of taxes excluding any net realized and unrealized gains (losses) resulting solely from the cost basis established by ASC 805 (see below) for the assets acquired in connection with the OCSI Merger and the OSI2 Merger.

“Adjusted Earnings (Loss)” and “Adjusted Earnings (Loss) Per Share” – represents the sum of (i) Adjusted Net Investment Income and (ii) Adjusted Net Realized and Unrealized Gains (Losses), Net of Taxes and includes the impact of Part II incentive fees¹, if any.

The OCSI Merger and the OSI2 Merger (the “Mergers”) were accounted for as asset acquisitions in accordance with the asset acquisition method of accounting as detailed in ASC 805-50, Business Combinations—Related Issues (“ASC 805”). The consideration paid to each of the stockholders of OCSI and OSI2 were allocated to the individual assets acquired and liabilities assumed based on the relative fair values of the net identifiable assets acquired other than “non-qualifying” assets, which established a new cost basis for the acquired investments under ASC 805 that, in aggregate, was different than the historical cost basis of the acquired investments prior to the OCSI Merger or the OSI2 Merger, as applicable. Additionally, immediately following the completion of the Mergers, the acquired investments were marked to their respective fair values under ASC 820, Fair Value Measurements, which resulted in unrealized appreciation/depreciation. The new cost basis established by ASC 805 on debt investments acquired will accrete/amortize over the life of each respective debt investment through interest income, with a corresponding adjustment recorded to unrealized appreciation/depreciation on such investment acquired through its ultimate disposition. The new cost basis established by ASC 805 on equity investments acquired will not accrete/amortize over the life of such investments through interest income and, assuming no subsequent change to the fair value of the equity investments acquired and disposition of such equity investments at fair value, the Company will recognize a realized gain/loss with a corresponding reversal of the unrealized appreciation/depreciation on disposition of such equity investments acquired.

The Company’s management uses the non-GAAP financial measures described above internally to analyze and evaluate financial results and performance and to compare its financial results with those of other business development companies that have not adjusted the cost basis of certain investments pursuant to ASC 805. The Company’s management believes “Adjusted Total Investment Income”, “Adjusted Total Investment Income Per Share”, “Adjusted Net Investment Income” and “Adjusted Net Investment Income Per Share” are useful to investors as an additional tool to evaluate ongoing results and trends for the Company without giving effect to the income resulting from the new cost basis of the investments acquired in the Mergers because these amounts do not impact the fees payable to Oaktree Fund Advisors, LLC (the “Adviser”) under its investment advisory agreement (as amended and restated from time to time, the “A&R Advisory Agreement”), and specifically as its relates to “Adjusted Net Investment Income” and “Adjusted Net Investment Income Per Share”, without giving effect to Part II incentive fees. In addition, the Company’s management believes that “Adjusted Net Realized and Unrealized Gains (Losses), Net of Taxes”, “Adjusted Net Realized and Unrealized Gains (Losses), Net of Taxes Per Share”, “Adjusted Earnings (Loss)” and “Adjusted Earnings (Loss) Per Share” are useful to investors as they exclude the non-cash income and gain/loss resulting from the Mergers and are used by management to evaluate the economic earnings of its investment portfolio. Moreover, these metrics more closely align the Company’s key financial measures with the calculation of incentive fees payable to the Adviser under with the A&R Advisory Agreement (i.e., excluding amounts resulting solely from the lower cost basis of the acquired investments established by ASC 805 that would have been to the benefit of the Adviser absent such exclusion).

The following table provides a reconciliation of total investment income (the most comparable U.S. GAAP measure) to adjusted total investment income for the periods presented:

	For the three months ended
	March 31, 2025 (unaudited)					December 31, 2024 (unaudited)				March 31, 2024 (unaudited)
($ in thousands, except per share data)	Amount			Per Share		Amount		Per Share		Amount		Per Share
GAAP total investment income	$	77,568		$	0.90	$	86,647	$	1.05	$	94,029	$	1.18
Interest income amortization (accretion) related to merger accounting adjustments		(373	)		—		423		0.01		3,311		0.04
Adjusted total investment income	$	77,195		$	0.90	$	87,070	$	1.06	$	97,340	$	1.22

The following table provides a reconciliation of net investment income (the most comparable U.S. GAAP measure) to adjusted net investment income for the periods presented:

	For the three months ended
	March 31, 2025 (unaudited)					December 31, 2024 (unaudited)				March 31, 2024 (unaudited)
($ in thousands, except per share data)	Amount			Per Share		Amount		Per Share		Amount		Per Share
GAAP net investment income	$	39,055		$	0.45	$	44,302	$	0.54	$	41,367	$	0.52
Interest income amortization (accretion) related to merger accounting adjustments		(373	)		—		423		0.01		3,311		0.04
Part II incentive fee		—			—		—		—		—		—
Adjusted net investment income	$	38,682		$	0.45	$	44,725	$	0.54	$	44,678	$	0.56

The following table provides a reconciliation of net realized and unrealized gains (losses), net of taxes (the most comparable U.S. GAAP measure) to adjusted net realized and unrealized gains (losses), net of taxes for the periods presented:

	For the three months ended
	March 31, 2025 (unaudited)						December 31, 2024 (unaudited)						March 31, 2024 (unaudited)
($ in thousands, except per share data)	Amount			Per Share			Amount			Per Share			Amount			Per Share
GAAP net realized and unrealized gains (losses), net of taxes	$	(75,304	)	$	(0.88	)	$	(37,063	)	$	(0.45	)	$	(32,030	)	$	(0.40	)
Net realized and unrealized gains (losses) related to merger accounting adjustments		56			—			(61	)		—			(3,314	)		(0.04	)
Adjusted net realized and unrealized gains (losses), net of taxes	$	(75,248	)	$	(0.88	)	$	(37,124	)	$	(0.45	)	$	(35,344	)	$	(0.44	)

The following table provides a reconciliation of net increase (decrease) in net assets resulting from operations (the most comparable U.S. GAAP measure) to adjusted earnings (loss) for the periods presented:

	For the three months ended
	March 31, 2025 (unaudited)						December 31, 2024 (unaudited)					March 31, 2024 (unaudited)
($ in thousands, except per share data)	Amount			Per Share			Amount			Per Share		Amount			Per Share
Net increase (decrease) in net assets resulting from operations	$	(36,249	)	$	(0.42	)	$	7,239		$	0.09	$	9,337		$	0.12
Interest income amortization (accretion) related to merger accounting adjustments		(373	)		—			423			0.01		3,311			0.04
Net realized and unrealized gains (losses) related to merger accounting adjustments		56			—			(61	)		—		(3,314	)		(0.04	)
Adjusted earnings (loss)	$	(36,566	)	$	(0.43	)	$	7,601		$	0.09	$	9,334		$	0.12

Conference Call Information

Oaktree Specialty Lending will host a conference call to discuss its second fiscal quarter 2025 results at 11:00 a.m. Eastern Time / 8:00 a.m. Pacific Time on May 1, 2025. The conference call may be accessed by dialing (877) 507-3275 (U.S. callers) or +1 (412) 317-5238 (non-U.S. callers). All callers will need to reference “Oaktree Specialty Lending” once connected with the operator. Alternatively, a live webcast of the conference call can be accessed through the Investors section of Oaktree Specialty Lending’s website, www.oaktreespecialtylending.com. During the conference call, the Company intends to refer to an investor presentation that will be available on the Investors section of its website.

For those individuals unable to listen to the live broadcast of the conference call, a replay will be available on Oaktree Specialty Lending’s website, or by dialing (877) 344-7529 (U.S. callers) or +1 (412) 317-0088 (non-U.S. callers), access code 3296634, beginning approximately one hour after the broadcast.

About Oaktree Specialty Lending Corporation

Oaktree Specialty Lending Corporation (NASDAQ:OCSL) is a specialty finance company dedicated to providing customized one-stop credit solutions to companies with limited access to public or syndicated capital markets. The Company’s investment objective is to generate current income and capital appreciation by providing companies with flexible and innovative financing solutions including first and second lien loans, unsecured and mezzanine loans, and preferred equity. The Company is regulated as a business development company under the Investment Company Act of 1940, as amended, and is externally managed by Oaktree Fund Advisors, LLC, an affiliate of Oaktree Capital Management, L.P. For additional information, please visit Oaktree Specialty Lending’s website at www.oaktreespecialtylending.com.

Forward-Looking Statements

Some of the statements in this press release constitute forward-looking statements because they relate to future events, future performance or financial condition. The forward-looking statements may include statements as to: future operating results of the Company and distribution projections; business prospects of the Company and the prospects of its portfolio companies; and the impact of the investments that the Company expects to make. In addition, words such as “anticipate,” “believe,” “expect,” “seek,” “plan,” “should,” “estimate,” “project” and “intend” indicate forward-looking statements, although not all forward-looking statements include these words. The forward-looking statements contained in this press release involve risks and uncertainties. Certain factors could cause actual results and conditions to differ materially from those projected, including the uncertainties associated with (i) changes or potential disruptions in the Company’s operations, the economy, financial markets or political environment, including those caused by tariffs and trade disputes with other countries, inflation and an elevated interest rate environment; (ii) risks associated with possible disruption in the operations of the Company or the economy generally due to terrorism, war or other geopolitical conflict, natural disasters, pandemics or cybersecurity incidents; (iii) future changes in laws or regulations (including the interpretation of these laws and regulations by regulatory authorities); (iv) conditions in the Company’s operating areas, particularly with respect to business development companies or regulated investment companies; and (v) other considerations that may be disclosed from time to time in the Company’s publicly disseminated documents and filings. The Company has based the forward-looking statements included in this press release on information available to it on the date of this press release, and the Company assumes no obligation to update any such forward-looking statements. The Company undertakes no obligation to revise or update any forward-looking statements, whether as a result of new information, future events or otherwise, you are advised to consult any additional disclosures that it may make directly to you or through reports that the Company in the future may file with the Securities and Exchange Commission, including annual reports on Form 10-K, quarterly reports on Form 10-Q and current reports on Form 8-K.

Contacts

Investor Relations:
Oaktree Specialty Lending Corporation
Clark Koury
(213) 830-6222
ocsl-ir@oaktreecapital.com

Media Relations:
Financial Profiles, Inc.
Moira Conlon
(310) 478-2700
mediainquiries@oaktreecapital.com

Oaktree Specialty Lending Corporation Consolidated Statements of Assets and Liabilities (in thousands, except per share amounts)

	March 31, 2025 (unaudited)			December 31, 2024 (unaudited)			September 30, 2024
ASSETS
Investments at fair value:
Control investments (cost March 31, 2025: $375,317; cost December 31, 2024: $374,509; cost September 30, 2024: $372,901)	$	230,904		$	267,782		$	289,404
Affiliate investments (cost March 31, 2025: $35,295; cost December 31, 2024: $37,358; cost September 30, 2024: $38,175)		32,475			35,180			35,677
Non-control/Non-affiliate investments (cost March 31, 2025: $2,703,644; cost December 31, 2024: $2,576,053; cost September 30, 2024: $2,733,843)		2,629,392			2,532,332			2,696,198
Total investments at fair value (cost March 31, 2025: $3,114,256; cost December 31, 2024: $2,987,920; September 30, 2024: $3,144,919)		2,892,771			2,835,294			3,021,279
Cash and cash equivalents		97,838			112,913			63,966
Restricted cash		10,370			13,159			14,577
Interest, dividends and fees receivable		22,768			25,290			38,804
Due from portfolio companies		317			408			12,530
Receivables from unsettled transactions		18,526			55,661			17,548
Due from broker		25,190			21,880			17,060
Deferred financing costs		10,196			10,936			11,677
Deferred offering costs		161			162			125
Derivative assets at fair value		—			6,652			—
Other assets		1,030			1,437			775
Total assets	$	3,079,167		$	3,083,792		$	3,198,341

LIABILITIES AND NET ASSETS
Liabilities:
Accounts payable, accrued expenses and other liabilities	$	3,451		$	3,371		$	3,492
Base management fee and incentive fee payable		7,332			8,930			15,517
Due to affiliate		1,277			1,508			4,088
Interest payable		14,087			17,600			16,231
Payables from unsettled transactions		110,202			—			15,666
Derivative liabilities at fair value		19,219			24,759			16,843
Deferred tax liability		—			14			—
Credit facilities payable		520,000			660,000			710,000
Unsecured notes payable (net of $7,573, $4,401 and $4,935 of unamortized financing costs as of March 31, 2025, December 31, 2024 and September 30, 2024, respectively)		928,486			917,795			928,693
Total liabilities		1,604,054			1,633,977			1,710,530
Commitments and contingencies
Net assets:
Common stock, $0.01 par value per share, 250,000 shares authorized; 88,086, 82,245 and 82,245 shares issued and outstanding as of March 31, 2025, December 31, 2024 and September 30, 2024, respectively		881			822			822
Additional paid-in-capital		2,367,337			2,264,449			2,264,449
Accumulated overdistributed earnings		(893,105	)		(815,456	)		(777,460	)
Total net assets (equivalent to $16.75, $17.63 and $18.09 per common share as of March 31, 2025, December 31, 2024 and September 30, 2024, respectively)		1,475,113			1,449,815			1,487,811
Total liabilities and net assets	$	3,079,167		$	3,083,792		$	3,198,341

Oaktree Specialty Lending Corporation Consolidated Statements of Operations (in thousands, except per share amounts)

	Three months ended March 31, 2025 (unaudited)			Three months ended December 31, 2024 (unaudited)			Three months ended March 31, 2024 (unaudited)			Six months ended March 31, 2025 (unaudited)			Six months ended March 31, 2024 (unaudited)
Interest income:
Control investments	$	4,884		$	5,226		$	5,949		$	10,110		$	11,954
Affiliate investments		159			166			10			325			334
Non-control/Non-affiliate investments		63,915			71,809			77,803			135,724			160,524
Interest on cash and cash equivalents		1,565			1,221			1,494			2,786			3,858
Total interest income		70,523			78,422			85,256			148,945			176,670
PIK interest income:
Control investments		—			830			598			830			1,142
Affiliate investments		27			28			—			55			—
Non-control/Non-affiliate investments		4,504			4,870			4,218			9,374			7,523
Total PIK interest income		4,531			5,728			4,816			10,259			8,665
Fee income:
Control investments		—			—			13			—			26
Affiliate investments		—			—			—			—			5
Non-control/Non-affiliate investments		1,742			1,679			2,533			3,421			3,822
Total fee income		1,742			1,679			2,546			3,421			3,853
Dividend income:
Control investments		700			700			1,400			1,400			2,800
Non-control/Non-affiliate investments		72			118			11			190			26
Total dividend income		772			818			1,411			1,590			2,826
Total investment income		77,568			86,647			94,029			164,215			192,014
Expenses:
Base management fee		7,515			8,144			11,604			15,659			23,081
Part I incentive fee		6,733			7,913			8,452			14,646			17,480
Professional fees		1,227			1,067			1,213			2,294			2,717
Directors fees		160			160			160			320			320
Interest expense		28,191			30,562			31,881			58,753			64,051
Administrator expense		388			437			326			825			692
General and administrative expenses		937			926			526			1,863			1,117
Total expenses		45,151			49,209			54,162			94,360			109,458
Management fees waived		(183	)		(750	)		(1,500	)		(933	)		(3,000	)
Part I incentive fees waived		(6,733	)		(6,377	)		—			(13,110	)		—
Net expenses		38,235			42,082			52,662			80,317			106,458
Net investment income before taxes		39,333			44,565			41,367			83,898			85,556
(Provision) benefit for taxes on net investment income		(278	)		(263	)		—			(541	)		—
Net investment income		39,055			44,302			41,367			83,357			85,556
Unrealized appreciation (depreciation):
Control investments		(37,686	)		(23,230	)		(6,193	)		(60,916	)		(4,854	)
Affiliate investments		(642	)		320			93			(322	)		(832	)
Non-control/Non-affiliate investments		(28,975	)		(7,198	)		(21,396	)		(36,173	)		(39,011	)
Foreign currency forward contracts		(14,720	)		10,494			2,244			(4,226	)		(5,580	)
Net unrealized appreciation (depreciation)		(82,023	)		(19,614	)		(25,252	)		(101,637	)		(50,277	)
Realized gains (losses):
Control investments		13			—			—			13			786
Affiliate investments		333			(288	)		—			45			—
Non-control/Non-affiliate investments		(1,547	)		(17,056	)		(5,433	)		(18,603	)		(18,773	)
Foreign currency forward contracts		7,906			34			(1,170	)		7,940			2,931
Net realized gains (losses)		6,705			(17,310	)		(6,603	)		(10,605	)		(15,056	)
(Provision) benefit for taxes on realized and unrealized gains (losses)		14			(139	)		(175	)		(125	)		(351	)
Net realized and unrealized gains (losses), net of taxes		(75,304	)		(37,063	)		(32,030	)		(112,367	)		(65,684	)
Net increase (decrease) in net assets resulting from operations	$	(36,249	)	$	7,239		$	9,337		$	(29,010	)	$	19,872
Net investment income per common share — basic and diluted	$	0.45		$	0.54		$	0.52		$	0.99		$	1.09
Earnings (loss) per common share — basic and diluted	$	(0.42	)	$	0.09		$	0.12		$	(0.35	)	$	0.25
Weighted average common shares outstanding — basic and diluted		85,916			82,245			79,763			84,061			78,797

^¹ Adjusted earnings (loss) includes accrued Part II incentive fees. As of and for the three months ended December 31, 2024, there was no accrued Part II incentive fee liability. Part II incentive fees are contractually calculated and paid at the end of the fiscal year in accordance with the A&R Advisory Agreement, which differs from Part II incentive fees accrued under GAAP. For the three months ended December 31, 2024, no amounts were payable under the A&R Advisory Agreement.

The MIL Network –

May 1, 2025

MIL-OSI: Radware Lands Largest Cloud Security Services Agreement to Date

Source: GlobeNewswire (MIL-OSI)

MAHWAH, N.J., May 01, 2025 (GLOBE NEWSWIRE) — Radware^® (NASDAQ: RDWR), a global leader in application security and delivery solutions for multi-cloud environments, today announced it recorded a major customer win, securing its largest cloud security services agreement to date. The multi-year, multimillion dollar agreement is part of a renewal and expanded relationship with a global, Fortune 500 financial services and payments company and top 10 U.S. merchant acquirer. To manage business growth and increasing cyber threats, the customer plans to scale its security operations across Radware’s full suite of AI-powered Cloud DDoS Protection and Application Protection Services, safeguarding thousands of applications and billions of digital transactions.

The company selected Radware for its ability to deliver a fully integrated, high-capacity application and network protection solution that seamlessly scales usage while minimizing the burden of operational overhead. The agreement spans Radware’s Cloud DDoS Protection Service and Cloud Application Protection Service, which also includes its Cloud Web Application Firewall Service, bot manager, and Web DDoS Protection.

“Our customer’s rapid growth trajectory required an end-to-end cloud security platform that could keep pace with evolving cyber threats without burdening operational resources,” said Neal Quinn, head of North American cloud security services at Radware. “This landmark agreement reinforces Radware’s enormous potential in cloud security and is a testament to our continued investment in the U.S. market. It showcases the trusted partnerships we have built with some of the most demanding digital businesses in the world.”

Radware’s cybersecurity suite includes application and network security solutions infused with EPIC-AI, state-of-the-art AI and generative AI algorithms which are built to block modern attacks while delivering consistent real-time protections across cloud, on-prem, and hybrid environments. Designed to automatically adapt to changes in the threat landscape, applications and infrastructure, Radware’s EPIC-AI approach to security helps organizations significantly improve attack detection and mitigation, reduce mean time to resolution (MTTR), and meet compliance challenges.

Radware has received numerous awards for its application and network security solutions. Industry analysts such as Aite-Novarica Group, Forrester, Gartner, GigaOm, IDC, KuppingerCole, and QKS Group continue to recognize Radware as a market leader in cybersecurity.

About Radware
Radware^® (NASDAQ: RDWR) is a global leader in application security and delivery solutions for multi-cloud environments. The company’s cloud application, infrastructure, and API security solutions use AI-driven algorithms for precise, hands-free, real-time protection from the most sophisticated web, application, and DDoS attacks, API abuse, and bad bots. Enterprises and carriers worldwide rely on Radware’s solutions to address evolving cybersecurity challenges and protect their brands and business operations while reducing costs. For more information, please visit the Radware website.

Radware encourages you to join our community and follow us on Facebook, LinkedIn, Radware Blog, X, and YouTube.

©2025 Radware Ltd. All rights reserved. Any Radware products and solutions mentioned in this press release are protected by trademarks, patents, and pending patent applications of Radware in the U.S. and other countries. For more details, please see: https://www.radware.com/LegalNotice/. All other trademarks and names are property of their respective owners.

Radware believes the information in this document is accurate in all material respects as of its publication date. However, the information is provided without any express, statutory, or implied warranties and is subject to change without notice.

The contents of any website or hyperlinks mentioned in this press release are for informational purposes and the contents thereof are not part of this press release.

Safe Harbor Statement
This press release includes “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Any statements made herein that are not statements of historical fact, including statements about Radware’s plans, outlook, beliefs, or opinions, are forward-looking statements. Generally, forward-looking statements may be identified by words such as “believes,” “expects,” “anticipates,” “intends,” “estimates,” “plans,” and similar expressions or future or conditional verbs such as “will,” “should,” “would,” “may,” and “could.” For example, when we say in this press release that this landmark agreement reinforces our enormous potential in cloud security, we are using forward-looking statements. Because such statements deal with future events, they are subject to various risks and uncertainties, and actual results, expressed or implied by such forward-looking statements, could differ materially from Radware’s current forecasts and estimates. Factors that could cause or contribute to such differences include, but are not limited to: the impact of global economic conditions, including as a result of the state of war declared in Israel in October 2023 and instability in the Middle East, the war in Ukraine, tensions between China and Taiwan, financial and credit market fluctuations (including elevated interest rates), impacts from tariffs or other trade restrictions, inflation, and the potential for regional or global recessions; our dependence on independent distributors to sell our products; our ability to manage our anticipated growth effectively; our business may be affected by sanctions, export controls, and similar measures, targeting Russia and other countries and territories, as well as other responses to Russia’s military conflict in Ukraine, including indefinite suspension of operations in Russia and dealings with Russian entities by many multi-national businesses across a variety of industries; the ability of vendors to provide our hardware platforms and components for the manufacture of our products; our ability to attract, train, and retain highly qualified personnel; intense competition in the market for cybersecurity and application delivery solutions and in our industry in general, and changes in the competitive landscape; our ability to develop new solutions and enhance existing solutions; the impact to our reputation and business in the event of real or perceived shortcomings, defects, or vulnerabilities in our solutions, if our end-users experience security breaches, or if our information technology systems and data, or those of our service providers and other contractors, are compromised by cyber-attackers or other malicious actors or by a critical system failure; our use of AI technologies that present regulatory, litigation, and reputational risks; risks related to the fact that our products must interoperate with operating systems, software applications and hardware that are developed by others; outages, interruptions, or delays in hosting services; the risks associated with our global operations, such as difficulties and costs of staffing and managing foreign operations, compliance costs arising from host country laws or regulations, partial or total expropriation, export duties and quotas, local tax exposure, economic or political instability, including as a result of insurrection, war, natural disasters, and major environmental, climate, or public health concerns; our net losses in the past and the possibility that we may incur losses in the future; a slowdown in the growth of the cybersecurity and application delivery solutions market or in the development of the market for our cloud-based solutions; long sales cycles for our solutions; risks and uncertainties relating to acquisitions or other investments; risks associated with doing business in countries with a history of corruption or with foreign governments; changes in foreign currency exchange rates; risks associated with undetected defects or errors in our products; our ability to protect our proprietary technology; intellectual property infringement claims made by third parties; laws, regulations, and industry standards affecting our business; compliance with open source and third-party licenses; complications with the design or implementation of our new enterprise resource planning (“ERP”) system; our reliance on information technology systems; our ESG disclosures and initiatives; and other factors and risks over which we may have little or no control. This list is intended to identify only certain of the principal factors that could cause actual results to differ. For a more detailed description of the risks and uncertainties affecting Radware, refer to Radware’s Annual Report on Form 20-F, filed with the Securities and Exchange Commission (SEC), and the other risk factors discussed from time to time by Radware in reports filed with, or furnished to, the SEC. Forward-looking statements speak only as of the date on which they are made and, except as required by applicable law, Radware undertakes no commitment to revise or update any forward-looking statement in order to reflect events or circumstances after the date any such statement is made. Radware’s public filings are available from the SEC’s website at www.sec.gov or may be obtained on Radware’s website at www.radware.com.

Media Contacts:
Gerri Dyrek
Radware
Gerri.Dyrek@radware.com

The MIL Network –

May 1, 2025
MIL-OSI Europe: Answer to a written question – Stepping up the fight against financial crime in the European Union – E-000649/2025(ASW)
Source: European Parliament
1. Despite significant progress in cross-border cooperation against financial crimes, it is important that Member States systemically launch financial investigations when investigating serious criminal offenses. Swift transposition of the new Directive on asset recovery[1] will ensure that asset-tracing is part of all investigations into organised crime. The new rules on exchange of information[2] also boost police cooperation against financial crime. Europol and Eurojust support operational cooperation to tackle financial crimes, and the European Public Prosecutor’s Office (EPPO) prosecutes crimes, playing a key role in dismantling criminal activities across the EU, while OLAF, the European Anti-Fraud Office, complements these efforts by detecting, investigating, and preventing fraud, both affecting the EU’s financial interests.

2. Acting as the ‘information hub’ for EU law enforcement, Europol provides the EPPO access to information from national law enforcement authorities stored in its information system. The Commission will take into account the cooperation with EPPO, and the need to further enhance it, when evaluating the current legal framework for Europol[3], and in any proposals that may follow.

3. The Commission has launched reflections, supported by the High-Level Forum on the Future of EU Criminal Justice[4], on areas in which the EPPO will need more powers to look at cross-border serious crime, in particular corruption that impacts EU funds and cannot be handled alone by Member States . The EPPO’s role, and cooperation with Eurojust and Europol, will also be considered.

[1] OJ L, 2024/1260, 2.5.2024.

[2] OJ L 134, 22.5.2023, p. 1-24.

[3] OJ L 135, 24.5.2016, p. 53, as amended in 2022 OJ L 169, 27.6.2022, p. 1.

[4] https://ec.europa.eu/commission/presscorner/detail/en/speech_25_745
Last updated: 29 April 2025
MIL OSI Europe News –
May 1, 2025

MIL-OSI: Targa Resources Corp. Reports Record First Quarter 2025 Financial Results

Source: GlobeNewswire (MIL-OSI)

HOUSTON, May 01, 2025 (GLOBE NEWSWIRE) — Targa Resources Corp. (NYSE: TRGP) (“TRGP,” the “Company” or “Targa”) today reported first quarter 2025 results.

First quarter 2025 net income attributable to Targa Resources Corp. was $270.5 million compared to $275.2 million for the first quarter of 2024. The Company reported adjusted earnings before interest, income taxes, depreciation and amortization, and other non-cash items (“adjusted EBITDA”)⁽¹⁾ of $1,178.5 million for the first quarter of 2025 compared to $966.2 million for the first quarter of 2024.

Highlights

Record first quarter 2025 adjusted EBITDA of $1.2 billion, a 22% increase year over year
Repurchased $214 million of common shares through April 2025
Declared an annual common dividend of $4.00 per share for 2025, a 33% increase year over year
Continue to estimate full year 2025 adjusted EBITDA between $4.65 billion and $4.85 billion
Continue to estimate 2025 net growth capital expenditures of $2.6 billion to $2.8 billion

On April 10, 2025, the Company declared an increase to its quarterly cash dividend to $1.00 per common share, or $4.00 per common share on an annualized basis, for the first quarter of 2025. This dividend represents a 33 percent increase over the common dividend declared with respect to the first quarter of 2024. Total cash dividends of approximately $217 million will be paid on May 15, 2025 on all outstanding shares of common stock to holders of record as of the close of business on April 30, 2025.

During the first quarter of 2025, Targa repurchased 651,163 shares of its common stock at a weighted average per share price of $191.86 for a total net cost of $124.9 million. As of March 31, 2025, there was $890.5 million remaining under the Company’s share repurchase program. Subsequent to quarter end, Targa repurchased 532,210 shares of its common stock at a weighted average per share price of $167.28 for a total net cost of $89.0 million.

First Quarter 2025 – Sequential Quarter over Quarter Commentary

Targa reported first quarter adjusted EBITDA of $1,178.5 million, representing a 5 percent increase compared to the fourth quarter of 2024. The sequential increase in adjusted EBITDA was attributable to contribution from the Badlands transaction and higher marketing margin. Volumes across Targa’s Gathering and Processing (“G&P”) and Logistics and Transportation (“L&T”) systems were negatively impacted by winter weather events which reduced system volumes during the first quarter. In the G&P segment, sequential adjusted operating margin was approximately flat as modestly lower Permian natural gas inlet volumes due to winter weather events were partially offset by higher fees. In the L&T segment, adjusted operating margin was also sequentially flat as higher marketing margin offset lower NGL pipeline transportation volumes, which were negatively impacted by winter weather events. Fractionation volumes were lower in the first quarter due to a major planned turnaround at Targa’s Cedar Bayou Fractionation facilities in Mont Belvieu, TX. Higher sequential marketing margin was attributable to increased optimization opportunities. Subsequent to quarter end, Targa’s Permian volumes and associated L&T system volumes have meaningfully increased from first quarter levels.

Capitalization, Financing and Liquidity

The Company’s total consolidated debt as of March 31, 2025 was $16,208.7 million, net of $106.7 million of debt issuance costs and $35.2 million of unamortized discount, with $14,534.4 million of outstanding senior unsecured notes, $920.0 million outstanding under the Commercial Paper Program, $600.0 million outstanding under the Securitization Facility, and $296.2 million of finance lease liabilities.

In February 2025, Targa completed an underwritten public offering of 5.550% Notes due 2035 and 6.125% Notes due 2055, resulting in net proceeds of approximately $2.0 billion. Targa used the net proceeds from the issuance to fund the repurchase of all of the outstanding preferred equity in Targa Badlands LLC (the “Badlands Transaction”) and for general corporate purposes, including to repay borrowings under the Commercial Paper Program.

Total consolidated liquidity as of March 31, 2025 was approximately $2.7 billion, including $2.6 billion available under the TRGP Revolver, and $151.4 million of cash.

Growth Projects Update

In Targa’s G&P segment, construction continues on its 275 MMcf/d Pembrook II, East Pembrook, and East Driver plants in Permian Midland and its 275 MMcf/d Bull Moose II and Falcon II plants in Permian Delaware. In Targa’s L&T segment, construction continues on its Delaware Express pipeline expansion, its 150 MBbl/d Train 11 and Train 12 fractionators in Mont Belvieu, and its GPMT LPG Export Expansion. The Company now expects its Pembrook II plant to begin operations in the third quarter of 2025 and remains on-track to complete its other announced expansions as previously disclosed.

2025 Outlook

Targa continues to estimate full year 2025 adjusted EBITDA to be between $4.65 billion and $4.85 billion supported by forecasted growth across its Permian G&P footprint, which is expected to drive record Permian, NGL pipeline transportation, fractionation, and LPG export volumes in 2025 relative to records set in 2024. While the growth is weighted to the second half of 2025, current and expected producer activity levels continue to support an outlook of meaningfully increasing volumes across the rest of 2025 and 2026.

Targa’s estimate for 2025 net growth capital expenditures remains unchanged in a range of $2.6 billion to $2.8 billion, and its estimate for 2025 net maintenance capital expenditures also remains unchanged at approximately $250 million.

Conference Call

The Company will host a conference call for the investment community at 11:00 a.m. Eastern time (10:00 a.m. Central time) on May 1, 2025 to discuss its first quarter results. The conference call can be accessed via webcast under Events and Presentations in the Investors section of the Company’s website at www.targaresources.com/investors/events, or by going directly to https://edge.media-server.com/mmc/p/waa5bt3q. A webcast replay will be available at the link above approximately two hours after the conclusion of the event.

An earnings supplement presentation and updated investor presentation are available under Events and Presentations in the Investors section of the Company’s website at www.targaresources.com/investors/events.

^{(1) Adjusted EBITDA and adjusted operating margin (segment) are non-GAAP financial measures and are discussed under “Non-GAAP Financial Measures.”}

Targa Resources Corp. – Consolidated Financial Results of Operations

	Three Months Ended March 31,
	2025			2024			2025 vs. 2024
	(In millions)
Revenues:
Sales of commodities	$	3,884.4		$	3,942.4		$	(58.0	)		(1	%)
Fees from midstream services		677.1			620.0			57.1			9	%
Total revenues		4,561.5			4,562.4			(0.9	)		—
Product purchases and fuel		3,257.8			3,218.0			39.8			1	%
Operating expenses		303.6			278.0			25.6			9	%
Depreciation and amortization expense		367.6			340.5			27.1			8	%
General and administrative expense		94.5			86.5			8.0			9	%
Other operating (income) expense		(5.3	)		—			(5.3	)		(100	%)
Income (loss) from operations		543.3			639.4			(96.1	)		(15	%)
Interest expense, net		(197.1	)		(228.6	)		31.5			14	%
Equity earnings (loss)		5.5			2.8			2.7			96	%
Other, net		0.3			1.7			(1.4	)	NM
Income tax (expense) benefit		(72.2	)		(82.7	)		10.5			13	%
Net income (loss)		279.8			332.6			(52.8	)		(16	%)
Less: Net income (loss) attributable to noncontrolling interests		9.3			57.4			(48.1	)		(84	%)
Net income (loss) attributable to Targa Resources Corp.		270.5			275.2			(4.7	)		(2	%)
Premium on repurchase of noncontrolling interests, net of tax		70.5			—			70.5			100	%
Net income (loss) attributable to common shareholders	$	200.0		$	275.2		$	(75.2	)		(27	%)
Financial data:
Adjusted EBITDA (1)	$	1,178.5		$	966.2		$	212.3			22	%
Adjusted cash flow from operations (1)		970.0			738.4			231.6			31	%
Adjusted free cash flow (1)		328.2			2.8			325.4		NM

^{(1) Adjusted EBITDA, adjusted cash flow from operations and adjusted free cash flow are non-GAAP financial measures and are discussed under “Non-GAAP Financial Measures.”}
^{NM Due to a low denominator, the noted percentage change is disproportionately high and as a result, considered not meaningful.}

Three Months Ended March 31, 2025 Compared to Three Months Ended March 31, 2024

Commodity sales are relatively flat reflecting lower NGL, natural gas and condensate volumes ($217.9 million), the unfavorable impact of hedges ($256.1 million) and lower condensate prices ($15.2 million), offset by higher natural gas and NGL prices ($431.2 million).

The increase in fees from midstream services is primarily due to higher gas gathering and processing fees, and higher export volumes, partially offset by lower transportation and fractionation fees.

Product purchases and fuel are relatively flat reflecting higher natural gas and NGL prices, offset by lower NGL and natural gas volumes.

The increase in operating expenses is primarily due to higher labor, taxes and maintenance costs, partially offset by lower rental costs.

See “—Review of Segment Performance” for additional information on a segment basis.

The increase in depreciation and amortization expense is primarily due to the impact of system expansions on the Company’s asset base.

The decrease in interest expense, net is due to recognition of cumulative interest on a legal ruling associated with the Splitter Agreement in 2024, partially offset by higher borrowings in 2025.

The decrease in income tax expense is primarily due to a decrease in pre-tax book income.

The decrease in net income attributable to noncontrolling interests is primarily due to the Badlands Transaction in 2025 and the acquisition of the remaining membership interest in Cedar Bayou Fractionators, L.P. in 2024.

The premium on repurchase of noncontrolling interests, net of tax is due to the Badlands Transaction in 2025.

Review of Segment Performance

The following discussion of segment performance includes inter-segment activities. The Company views segment operating margin and adjusted operating margin as important performance measures of the core profitability of its operations. These measures are key components of internal financial reporting and are reviewed for consistency and trend analysis. For a discussion of adjusted operating margin, see “Non-GAAP Financial Measures ― Adjusted Operating Margin.” Segment operating financial results and operating statistics include the effects of intersegment transactions. These intersegment transactions have been eliminated from the consolidated presentation.

The Company operates in two primary segments: (i) Gathering and Processing; and (ii) Logistics and Transportation.

Gathering and Processing Segment

The Gathering and Processing segment includes assets used in the gathering and/or purchase and sale of natural gas produced from oil and gas wells, removing impurities and processing this raw natural gas into merchantable natural gas by extracting NGLs; and assets used for the gathering and terminaling and/or purchase and sale of crude oil. The Gathering and Processing segment’s assets are located in the Permian Basin of West Texas and Southeast New Mexico (including the Midland, Central and Delaware Basins); the Eagle Ford Shale in South Texas; the Barnett Shale in North Texas; the Anadarko, Ardmore, and Arkoma Basins in Oklahoma (including the SCOOP and STACK) and South Central Kansas; the Williston Basin in North Dakota (including the Bakken and Three Forks plays); and the onshore and near offshore regions of the Louisiana Gulf Coast.

The following table provides summary data regarding results of operations of this segment for the periods indicated:

	Three Months Ended March 31,
	2025		2024		2025 vs. 2024
	(In millions, except operating statistics and price amounts)
Operating margin	$	602.2	$	556.4	$	45.8		8	%
Operating expenses		208.2		188.1		20.1		11	%
Adjusted operating margin	$	810.4	$	744.5	$	65.9		9	%
Operating statistics (1):
Plant natural gas inlet, MMcf/d (2) (3)
Permian Midland (4)		2,985.6		2,746.1		239.5		9	%
Permian Delaware		3,020.3		2,648.9		371.4		14	%
Total Permian		6,005.9		5,395.0		610.9		11	%

SouthTX		295.1		304.9		(9.8	)	(3	%)
North Texas		171.5		184.5		(13.0	)	(7	%)
SouthOK (5)		318.0		357.2		(39.2	)	(11	%)
WestOK		200.1		210.1		(10.0	)	(5	%)
Total Central		984.7		1,056.7		(72.0	)	(7	%)

Badlands (5) (6)		136.9		127.1		9.8		8	%
Total Field		7,127.5		6,578.8		548.7		8	%

Coastal		398.8		524.7		(125.9	)	(24	%)

Total		7,526.3		7,103.5		422.8		6	%
NGL production, MBbl/d (3)
Permian Midland (4)		429.5		392.8		36.7		9	%
Permian Delaware		366.4		307.0		59.4		19	%
Total Permian		795.9		699.8		96.1		14	%

SouthTX		28.8		28.9		(0.1	)	—
North Texas		21.0		21.9		(0.9	)	(4	%)
SouthOK (5)		33.1		28.1		5.0		18	%
WestOK		15.2		11.7		3.5		30	%
Total Central		98.1		90.6		7.5		8	%

Badlands (5)		16.4		14.6		1.8		12	%
Total Field		910.4		805.0		105.4		13	%

Coastal		32.7		39.1		(6.4	)	(16	%)

Total		943.1		844.1		99.0		12	%
Crude oil, Badlands, MBbl/d		107.1		94.4		12.7		13	%
Crude oil, Permian, MBbl/d		29.0		27.6		1.4		5	%
Natural gas sales, BBtu/d (3)		2,592.8		2,650.5		(57.7	)	(2	%)
NGL sales, MBbl/d (3)		570.2		498.8		71.4		14	%
Condensate sales, MBbl/d		18.1		19.1		(1.0	)	(5	%)
Average realized prices (7):
Natural gas, $/MMBtu		2.24		1.50		0.74		49	%
NGL, $/gal		0.50		0.48		0.02		4	%
Condensate, $/Bbl		72.32		77.22		(4.90	)	(6	%)

^{(1)    Segment operating statistics include the effect of intersegment amounts, which have been eliminated from the consolidated presentation. For all volume statistics presented, the numerator is the total volume sold during the period and the denominator is the number of calendar days during the period.}
^{(2)    Plant natural gas inlet represents the Company’s undivided interest in the volume of natural gas passing through the meter located at the inlet of a natural gas processing plant, other than Badlands during 2024.}
^{(3)    Plant natural gas inlet volumes and gross NGL production volumes include producer take-in-kind volumes, while natural gas sales and NGL sales exclude producer take-in-kind volumes.}
^{(4)    Permian Midland includes operations in WestTX, of which the Company owns a 72.8% undivided interest, and other plants that are owned 100% by the Company. Operating results for the WestTX undivided interest assets are presented on a pro-rata net basis in the Company’s reported financials.}
^{(5)    Operations include facilities that are not wholly owned by the Company.}
^{(6)    Badlands natural gas inlet represents the total wellhead volume and includes the Targa volumes processed at the Little Missouri 4 plant.}
^{(7)    Average realized prices, net of fees, include the effect of realized commodity hedge gain/loss attributable to the Company’s equity volumes. The price is calculated using total commodity sales plus the hedge gain/loss as the numerator and total sales volume as the denominator, net of fees.}

The following table presents the realized commodity hedge gain (loss) attributable to the Company’s equity volumes that are included in the adjusted operating margin of the Gathering and Processing segment:

	Three Months Ended March 31, 2025								Three Months Ended March 31, 2024
	(In millions, except volumetric data and price amounts)
	Volume Settled		Price Spread (1)			Gain (Loss)			Volume Settled		Price Spread (1)			Gain (Loss)
Natural gas (BBtu)		7.7	$	0.96		$	7.4			14.4	$	1.27		$	18.3
NGL (MMgal)		97.5		(0.07	)		(6.6	)		134.1		0.01			1.7
Crude oil (MBbl)		0.7		1.00			0.7			0.4		(7.25	)		(2.9	)
						$	1.5							$	17.1

^{(1) The price spread is the differential between the contracted derivative instrument pricing and the price of the corresponding settled commodity transaction.}

Three Months Ended March 31, 2025 Compared to Three Months Ended March 31, 2024

The increase in adjusted operating margin was predominantly due to higher natural gas inlet volumes in the Permian. The increase in natural gas inlet volumes in the Permian was attributable to the addition of the Roadrunner II plant during the second quarter of 2024, the Greenwood II plant during the fourth quarter of 2024, the Bull Moose plant during the first quarter of 2025, and continued strong producer activity despite severe winter weather events which impacted volumes during the first quarter of 2025.

The increase in operating expenses was primarily due to higher volumes and multiple plant additions in the Permian.

Logistics and Transportation Segment

The Logistics and Transportation segment includes the activities and assets necessary to convert mixed NGLs into NGL products and also includes other assets and value-added services such as transporting, storing, fractionating, terminaling, and marketing of NGLs and NGL products, including services to LPG exporters and certain natural gas supply and marketing activities in support of the Company’s other businesses. The Logistics and Transportation segment also includes Grand Prix NGL Pipeline, which connects the Company’s gathering and processing positions in the Permian Basin, Southern Oklahoma and North Texas with the Company’s Downstream facilities in Mont Belvieu, Texas. The Company’s Downstream facilities are located predominantly in Mont Belvieu and Galena Park, Texas, and in Lake Charles, Louisiana.

The following table provides summary data regarding results of operations of this segment for the periods indicated:

	Three Months Ended March 31,
	2025		2024		2025 vs. 2024
	(In millions, except operating statistics)
Operating margin	$	646.7	$	532.1	$	114.6		22	%
Operating expenses		95.5		90.0		5.5		6	%
Adjusted operating margin	$	742.2	$	622.1	$	120.1		19	%
Operating statistics MBbl/d (1):
NGL pipeline transportation volumes		843.5		717.8		125.7		18	%
Fractionation volumes		979.9		797.2		182.7		23	%
Export volumes		447.7		439.0		8.7		2	%
NGL sales		1,186.4		1,227.6		(41.2	)	(3	%)

(1) Segment operating statistics include intersegment amounts, which have been eliminated from the consolidated presentation. For all volume statistics presented, the numerator is the total volume sold during the period and the denominator is the number of calendar days during the period.

Three Months Ended March 31, 2025 Compared to Three Months Ended March 31, 2024

The increase in adjusted operating margin was due to higher pipeline transportation and fractionation margin and higher marketing margin. Pipeline transportation and fractionation volumes benefited from higher supply volumes primarily from the Company’s Permian Gathering and Processing systems, the addition of Train 9 during the second quarter of 2024, the in-service of the Daytona NGL Pipeline during the third quarter of 2024, and the addition of Train 10 during the fourth quarter of 2024. Marketing margin increased due to greater optimization opportunities.

The increase in operating expenses was predominantly due to system expansions.

Other

	Three Months Ended March 31,
	2025			2024			2025 vs. 2024
	(In millions)
Operating margin	$	(248.8	)	$	(22.1	)	$	(226.7	)
Adjusted operating margin	$	(248.8	)	$	(22.1	)	$	(226.7	)

Other contains the results of commodity derivative activity mark-to-market gains/losses related to derivative contracts that were not designated as cash flow hedges. The Company has entered into derivative instruments to hedge the commodity price associated with a portion of the Company’s future commodity purchases and sales and natural gas transportation basis risk within the Company’s Logistics and Transportation segment.

About Targa Resources Corp.

Targa Resources Corp. is a leading provider of midstream services and is one of the largest independent infrastructure companies in North America. The Company owns, operates, acquires and develops a diversified portfolio of complementary domestic infrastructure assets and its operations are critical to the efficient, safe and reliable delivery of energy across the United States and increasingly to the world. The Company’s assets connect natural gas and NGLs to domestic and international markets with growing demand for cleaner fuels and feedstocks. The Company is primarily engaged in the business of: gathering, compressing, treating, processing, transporting, and purchasing and selling natural gas; transporting, storing, fractionating, treating, and purchasing and selling NGLs and NGL products, including services to LPG exporters; and gathering, storing, terminaling, and purchasing and selling crude oil.

Targa is a FORTUNE 500 company and is included in the S&P 500.

For more information, please visit the Company’s website at www.targaresources.com.

Non-GAAP Financial Measures

This press release includes the Company’s non-GAAP financial measures: adjusted EBITDA, adjusted cash flow from operations, adjusted free cash flow and adjusted operating margin (segment). The following tables provide reconciliations of these non-GAAP financial measures to their most directly comparable GAAP measures.

The Company utilizes non-GAAP measures to analyze the Company’s performance. Adjusted EBITDA, adjusted cash flow from operations, adjusted free cash flow and adjusted operating margin (segment) are non-GAAP measures. The GAAP measures most directly comparable to these non-GAAP measures are income (loss) from operations, Net income (loss) attributable to Targa Resources Corp. and segment operating margin. These non-GAAP measures should not be considered as an alternative to GAAP measures and have important limitations as analytical tools. Investors should not consider these measures in isolation or as a substitute for analysis of the Company’s results as reported under GAAP. Additionally, because the Company’s non-GAAP measures exclude some, but not all, items that affect income and segment operating margin, and are defined differently by different companies within the Company’s industry, the Company’s definitions may not be comparable with similarly titled measures of other companies, thereby diminishing their utility. Management compensates for the limitations of the Company’s non-GAAP measures as analytical tools by reviewing the comparable GAAP measures, understanding the differences between the measures and incorporating these insights into the Company’s decision-making processes.

Adjusted Operating Margin

The Company defines adjusted operating margin for the Company’s segments as revenues less product purchases and fuel. It is impacted by volumes and commodity prices as well as by the Company’s contract mix and commodity hedging program.

Gathering and Processing adjusted operating margin consists primarily of:

service fees related to natural gas and crude oil gathering, treating and processing; and
revenues from the sale of natural gas, condensate, crude oil and NGLs less producer settlements, fuel and transport and the Company’s equity volume hedge settlements.

Logistics and Transportation adjusted operating margin consists primarily of:

service fees (including the pass-through of energy costs included in certain fee rates);
system product gains and losses; and
NGL and natural gas sales, less NGL and natural gas purchases, fuel, third-party transportation costs and the net inventory change.

The adjusted operating margin impacts of mark-to-market hedge unrealized changes in fair value are reported in Other.

Adjusted operating margin for the Company’s segments provides useful information to investors because it is used as a supplemental financial measure by management and by external users of the Company’s financial statements, including investors and commercial banks, to assess:

the financial performance of the Company’s assets without regard to financing methods, capital structure or historical cost basis;
the Company’s operating performance and return on capital as compared to other companies in the midstream energy sector, without regard to financing or capital structure; and
the viability of capital expenditure projects and acquisitions and the overall rates of return on alternative investment opportunities.

Management reviews adjusted operating margin and operating margin for the Company’s segments monthly as a core internal management process. The Company believes that investors benefit from having access to the same financial measures that management uses in evaluating the Company’s operating results. The reconciliation of the Company’s adjusted operating margin to the most directly comparable GAAP measure is presented under “Review of Segment Performance.”

Adjusted EBITDA

The Company defines adjusted EBITDA as Net income (loss) attributable to Targa Resources Corp. before interest, income taxes, depreciation and amortization, and other items that the Company believes should be adjusted consistent with the Company’s core operating performance. The adjusting items are detailed in the adjusted EBITDA reconciliation table and its footnotes. Adjusted EBITDA is used as a supplemental financial measure by the Company and by external users of the Company’s financial statements such as investors, commercial banks and others to measure the ability of the Company’s assets to generate cash sufficient to pay interest costs, support the Company’s indebtedness and pay dividends to the Company’s investors.

Adjusted Cash Flow from Operations and Adjusted Free Cash Flow

The Company defines adjusted cash flow from operations as adjusted EBITDA less cash interest expense on debt obligations and cash tax (expense) benefit. The Company defines adjusted free cash flow as adjusted cash flow from operations less maintenance capital expenditures (net of any reimbursements of project costs) and growth capital expenditures, net of contributions from noncontrolling interests and including contributions to investments in unconsolidated affiliates. Adjusted cash flow from operations and adjusted free cash flow are performance measures used by the Company and by external users of the Company’s financial statements, such as investors, commercial banks and research analysts, to assess the Company’s ability to generate cash earnings (after servicing the Company’s debt and funding capital expenditures) to be used for corporate purposes, such as payment of dividends, retirement of debt or redemption of other financing arrangements.

The following table reconciles the non-GAAP financial measures used by management to the most directly comparable GAAP measures for the periods indicated:

	Three Months Ended March 31,
	2025			2024
	(In millions)
Reconciliation of Net income (loss) attributable to Targa Resources Corp. to Adjusted EBITDA, Adjusted Cash Flow from Operations and Adjusted Free Cash Flow
Net income (loss) attributable to Targa Resources Corp.	$	270.5		$	275.2
Interest (income) expense, net		197.1			228.6
Income tax expense (benefit)		72.2			82.7
Depreciation and amortization expense		367.6			340.5
(Gain) loss on sale or disposition of assets		(0.5	)		(1.1	)
Write-down of assets		2.0			1.0
(Gain) loss from financing activities		0.6			—
Equity (earnings) loss		(5.5	)		(2.8	)
Distributions from unconsolidated affiliates		4.9			6.3
Compensation on equity grants		17.6			14.6
Risk management activities		248.8			22.0
Noncontrolling interests adjustments (1)		3.2			(0.8	)
Adjusted EBITDA	$	1,178.5		$	966.2
Interest expense on debt obligations (2)		(193.2	)		(224.9	)
Cash taxes		(15.3	)		(2.9	)
Adjusted Cash Flow from Operations	$	970.0		$	738.4
Maintenance capital expenditures, net (3)		(47.3	)		(49.8	)
Growth capital expenditures, net (3)		(594.5	)		(685.8	)
Adjusted Free Cash Flow	$	328.2		$	2.8

^{(1)    Represents adjustments related to the Company’s subsidiaries with noncontrolling interests, including depreciation and amortization expense as well as earnings for certain plants within Targa’s WestTX joint venture not subject to noncontrolling interest accounting.}
^{(2)    Excludes amortization of interest expense. The three months ended March 31, 2024 includes $54.9 million of interest expense on a 2024 legal ruling associated with an agreement, dated December 27, 2015, for crude oil and condensate between Targa Channelview LLC, then a subsidiary of the Company, and Noble Americas Corp.}
^{(3)    Represents capital expenditures, net of contributions from noncontrolling interests and includes contributions to investments in unconsolidated affiliates.}

The following table presents a reconciliation of estimated net income of the Company to estimated adjusted EBITDA for 2025:

	2025E
	(In millions)
Reconciliation of Estimated Net Income Attributable to Targa Resources Corp. to
Estimated Adjusted EBITDA
Net income attributable to Targa Resources Corp.	$	1,555.0
Interest expense, net		860.0
Income tax expense		485.0
Depreciation and amortization expense		1,525.0
Equity earnings		(20.0	)
Distributions from unconsolidated affiliates		25.0
Compensation on equity grants		70.0
Risk management and other		250.0
Estimated Adjusted EBITDA	$	4,750.0

Regulation FD Disclosures

The Company uses any of the following to comply with its disclosure obligations under Regulation FD: press releases, SEC filings, public conference calls, or our website. The Company routinely posts important information on its website at www.targaresources.com, including information that may be deemed to be material. The Company encourages investors and others interested in the company to monitor these distribution channels for material disclosures.

Forward-Looking Statements

Certain statements in this release are “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. All statements, other than statements of historical facts, included in this release that address activities, events or developments that the Company expects, believes or anticipates will or may occur in the future, are forward-looking statements, including statements regarding our projected financial performance, capital spending and payment of future dividends. These forward-looking statements rely on a number of assumptions concerning future events and are subject to a number of uncertainties, factors and risks, many of which are outside the Company’s control, which could cause results to differ materially from those expected by management of the Company. Such risks and uncertainties include, but are not limited to, actions taken by other countries with significant hydrocarbon production, weather, political, economic and market conditions, including a decline in the price and market demand for natural gas, natural gas liquids and crude oil, the timing and success of our completion of capital projects and business development efforts, the expected growth of volumes on our systems, the impact of significant public health crises, commodity price volatility due to ongoing or new global conflicts, the impact of disruptions in the bank and capital markets, including those resulting from lack of access to liquidity for banking and financial services firms, changes in laws and regulations, particularly with regard to taxes, tariffs and international trade, and other uncertainties. These and other applicable uncertainties, factors and risks are described more fully in the Company’s filings with the Securities and Exchange Commission, including its most recent Annual Report on Form 10-K, and any subsequently filed Quarterly Reports on Form 10-Q and Current Reports on Form 8-K. The Company does not undertake an obligation to update or revise any forward-looking statement, whether as a result of new information, future events or otherwise.

Targa Investor Relations
InvestorRelations@targaresources.com
(713) 584-1133

The MIL Network –

May 1, 2025

MIL-OSI Europe: Answer to a written question – Future actions related to the Global Gateway strategy – E-000832/2025(ASW)
Source: European Parliament
In 2025, the Commission will focus on scaling up Global Gateway through the implementation of ongoing Global Gateway investment projects and the identification of new sustainable, high-impact investments that will further strengthen EU partnerships with third countries.

The second Global Gateway Forum, to be held in June 2025, will also be a key moment in 2025 to showcase steps being taken to scale up Global Gateway.

The Commission will continue its active engagement with Member States, their cooperation agencies and development financing institutions to emphasise the necessity of building a Team Europe approach to scaling up investments.

The Commission will also continue its work to enhance the coordination of its and Member States financial tools, including those of export credit agencies, and to increase collaboration with the European private sector through investment facilitation mechanisms and business matchmaking initiatives.

The Commission tracks and reports on EU support to Global Gateway investment projects through the annual report on the implementation of the EU’s external action instruments, as well as providing information through a dedicated public website[1].

Global Gateway flagship projects which have been identified by the European Council as projects which showcase Global Gateway, are monitored by the Council’s Working Party of Foreign Relations Counsellors.

In addition, regular exchanges take place between the Commission and the European Parliament, notably the Committee on Development.

[1] https://international-partnerships.ec.europa.eu/policies/global-gateway_en
Last updated: 29 April 2025
MIL OSI Europe News –
May 1, 2025
MIL-OSI: Best Sugar Daddy Apps [2025] Free Sugar Daddy Dating Apps To Meet Sugar Daddies And Sugar Babies Online
Source: GlobeNewswire (MIL-OSI)

Las Vegas, Nevada, May 01, 2025 (GLOBE NEWSWIRE) — Navigating the world of sugar dating apps requires knowledge, discretion, and careful platform selection. This comprehensive guide explores the top-rated sugar daddy apps, helping you make informed decisions about finding meaningful connections in the sugar dating landscape.

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Selecting the right sugar daddy app impacts your entire dating experience. Premium platforms like SugarDaddy.com lead the market with robust security measures, privacy controls, and extensive user bases. This sugar dating app implements strict verification processes, ensuring authentic connections while protecting user information.

Based on user feedback, safety features, privacy policies, and platform usability, sugardaddy.com is the best sugar daddy app in 2025, helping those looking to meet genuine sugar daddies or babies. As the interest in sugar dating continues to rise, especially among young professionals and high-income individuals, sugar daddy apps like sugardaddy.com have become a preferred option for connection and convenience.

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What Are Sugar Daddy Apps?

Sugar daddy apps are dating platforms created to connect successful, affluent individuals (typically sugar daddies or mommies) with attractive, younger partners (sugar babies) who are seeking financial support, mentorship, and lifestyle perks in return for companionship and emotional connection.

These apps go beyond typical swiping and chatting—they set the stage for transparent relationships built on mutual expectations and clearly defined arrangements.

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How to Choose the Best Sugar Daddy Dating App

Not every platform will suit your needs. Here are key factors to consider:
- Transparency: Look for platforms that support honest communication.
- User base: Choose apps with active, high-quality profiles.
- Privacy tools: Essential for both sugar daddies and babies.
- Pricing model: Some prefer subscription-based; others like pay-as-you-go.
Tips for Success on Sugar Daddy Apps
1. Create a compelling profile – Use high-quality photos and an honest bio.
2. Be clear about your expectations – Sugar dating works best with mutual understanding.
3. Communicate respectfully and openly – Build trust through genuine interaction.
4. Prioritize your safety – Meet in public and verify before exchanging sensitive details.
5. Stay active – Regular engagement boosts visibility and response rates.
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Safety First: How to Protect Yourself Online

Whether you’re a sugar daddy or a sugar baby, safety should be your top priority:
- Always meet in public first
- Don’t share personal financial data
- Use in-app messaging for initial chats
- Report suspicious behavior immediately
Benefits of Using Sugar Daddy Apps
- Clarity in relationships: These platforms promote upfront conversations about expectations.
- Financial support: Sugar babies often gain access to mentorship, gifts, and allowances.
- Luxury lifestyle: Many arrangements include travel, events, and upscale experiences.
- Emotional connection: Despite stereotypes, meaningful bonds can and do form.
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Key Features to Look for in the Best Sugar Daddy Apps

Selecting a reliable sugar dating platform requires attention to specific features that ensure safety, privacy, and successful connections. Here’s what you need to prioritize:

1. Identity Verification Systems

The best sugar daddy apps have robust identity verification systems in place to ensure that users are who they claim to be. Look for platforms that offer the following:
- Photo verification through selfie checks
- Social media account linking options
- Income verification for sugar daddies
- Background screening capabilities
- Professional status confirmation
2. Advanced Privacy Controls

Privacy is crucial in the world of online dating, especially when it comes to sugar relationships. The top apps understand this and provide advanced privacy controls such as:
- Invisible browsing modes
- Private photo galleries
- Custom profile visibility settings
- Data encryption protocols
- Ability to hide online status
- Control over profile information display
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3. Communication Features

Effective communication is key to building connections with potential sugar partners. Look for apps that offer a variety of communication features, including:
- In-app messaging systems
- Video chat capabilities
- Virtual gift exchanges
- Clear arrangement discussion tools
- Built-in translation services (if applicable)
- Message filtering options
4. User Experience Elements

A user-friendly interface can make a significant difference in your overall experience with a sugar daddy app. Look for platforms that prioritize user experience through:
- Mobile-responsive design for seamless access on smartphones and tablets
- Quick-access navigation menus for easy exploration of the app’s features
- Advanced search filters to help you find compatible matches
- Profile matching algorithms that suggest potential partners based on your preferences
- Real-time notifications for important updates and messages
- Easy profile setup process to get started quickly
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5. Safety Measures
- Your safety should always be a top priority when using dating apps. Look for platforms that have implemented the following safety measures:
- 24/7 customer support for immediate assistance with any issues or concerns
- Profile reporting tools to flag suspicious or inappropriate behavior
- Automated scam detection systems to identify and block fraudulent accounts
- Emergency contact features in case of any dangerous situations during meetings
- Block and mute options to prevent unwanted communication from certain users
The best sugar daddy apps incorporate these features while maintaining a clean, intuitive interface. You’ll want to look for platforms that regularly update their security measures and adapt to user feedback. High-quality apps also provide detailed tutorials and support documentation to help you maximize these features for your safety and success.

Remember to test the free versions of multiple apps to experience their interfaces and feature sets firsthand. This hands-on approach helps you identify which platform best aligns with your specific needs and preferences in the sugar dating world.

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The Growing Use of Sugar Daddy Apps

Sugar daddy apps are now used by a much broader range than in previous years. In 2025, these platforms have become a preferred option for those who want clarity from the start. Users are looking for connections that allow both people to state their expectations upfront. A sugar daddy app makes that process easier.

Many adults now view sugar daddy dating as a practical and valid way to meet others. Whether looking for conversation, financial help, or something more personal, they often prefer using tools that allow for open discussions.

Changing Dating Preferences Across Generations

Younger generations are playing a key role in this shift. People in their 20s and 30s have different expectations from those of earlier dating cultures. Many focus on career goals, education, and financial stability. In the traditional sense, long-term dating isn’t always their first priority.

At the same time, older users—often in their 40s or 50s—are using sugar daddy apps to meet younger partners with whom they can share meaningful experiences. These users usually have busy professional lives and little time for casual dating. A sugar daddy app allows for connection without pressure.

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Financial Pressures Influence Relationship Models

The financial side of dating has become more visible. Rising rent, education costs, and inflation have made it harder for many people to feel secure. That’s one reason why sugar daddy apps have become so popular. For some, meeting a supportive partner through an online sugar daddy platform helps balance financial goals with emotional needs.

Mutually beneficial relationships, when based on honesty and respect, are now seen as a modern dating choice. These types of arrangements can help both sugar daddies and sugar babies feel more in control of their lives.

Why Structured Agreements Appeal Today

Unlike traditional dating apps, which often rely on vague intentions or unclear signals, sugar daddy apps offer a more structured experience. Users can share what they want—financial support, emotional companionship, or mentorship—without guessing the other person’s motives.

This direct connection style is why many prefer sugar daddy websites and apps. It saves time and lowers the chance of miscommunication.

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How Sugar Daddy Apps Work

A Direct Way to Connect

Sugar daddy apps give users a practical way to meet others looking for similar relationships. These platforms are built to support arrangements that are clear from the start. Whether someone is searching for emotional connection, financial support, or companionship, a sugar daddy app helps both people define their goals early.

The design of these apps is often focused and straightforward. Unlike general dating platforms, sugar daddy apps are more structured and offer features specifically for users who want purposeful arrangements.

Setting Up a Profile

The first step to using a sugar daddy app is creating a profile. This is where users introduce themselves, add photos, and explain their wants. Sugar daddies often describe their lifestyle, availability, and what type of arrangement they prefer. Sugar babies may list their goals, interests, and expectations.

Unlike many standard dating sites, sugar daddy apps allow users to be upfront. There’s no need for vague descriptions or guessing games. A strong profile helps both sides avoid wasted time and attracts the kind of people they seek.

Some platforms offer tips while building a profile, such as keeping descriptions honest and using clear, current photos. The more open and real the profile is, the more likely it is to lead to a match.

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Matching and Search Tools

Most sugar daddy apps offer two main ways to connect: browsing or algorithm-based matches. Users can scroll through profiles or use filters to find someone who fits their preferences. Standard filters include location, age, lifestyle, goals, and arrangement type.

Some apps also offer advanced search options. For example, users can look for a millionaire sugar daddy, someone offering mentorship, or someone interested in virtual-only arrangements. These tools help narrow the search and improve the chances of meeting someone with the same interests.

Matching systems vary across platforms, but the focus stays on simplicity and clarity. Whether someone wants to meet in person or keep things online, they can search based on what matters to them.

Tools for Communication

Once a connection is made, sugar daddy apps provide ways to talk directly within the app. Messaging tools may include private chat, voice notes, or even video calling. This helps both sides get to know each other safely before deciding to take things further.

Some apps include verification steps to ensure the people using them are real. This might involve ID checks, selfie verification, or income confirmation for sugar daddies. These tools help build trust and reduce the risk of fake profiles.

Photo privacy is another common feature. Users can blur images, control who sees them, or use locked photo galleries to maintain privacy.

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Sugar Daddy Apps vs. Sugar Daddy Websites

While many features are the same, there are a few differences between sugar daddy apps and sugar daddy websites. Apps are designed for quick, on-the-go use. They are ideal for users who want mobile access, instant updates, and simple communication tools.

Websites, on the other hand, often offer more detail. Users can create longer profiles, upload more content, and explore search tools with more depth. Some people prefer the larger screen and full-feature experience that sugar daddy sites provide.

That said, most top platforms now offer both. This means users can choose how to connect—using a sugar daddy dating app during the day, then switching to the full website at home.

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Are Sugar Daddy Apps That Send Money Without Meeting Real?

Searches for sugar daddy apps that send money without meeting have grown recently. Many people are curious whether receiving financial support through a sugar daddy app is possible without meeting in person. While the idea is appealing to some users, especially those who prefer virtual connections, it’s essential to understand how these situations work.

Users sometimes form genuine online-only arrangements, but these are the exception, not the rule. Most sugar daddies want to build some level of connection before offering support.

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What’s Real and What’s Not

Legitimate sugar dating often involves a mutual agreement between both parties. This could include financial support, mentorship, or shared time. However, when someone offers money right away without verifying their identity or getting to know the other person, it’s a sign to pause and ask questions.

A real sugar daddy app will not promise instant payments or guarantee financial rewards just for signing up. Be careful with users who offer large amounts of money too quickly or try to take the conversation off the platform right away.

There are real sugar dating arrangements that happen entirely online, but they usually involve clear communication, gradual trust-building, and the use of verified features within the app.

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Recognizing Red Flags

You must stay aware of common scam tactics when using any sugar daddy dating app. Here are some warning signs to watch out for:
- A user offers money before any real conversation takes place
- They avoid video calls or ID verification
- They ask for your Cash App, PayPal, or personal banking details early on
- They claim to have sent you money and ask for a “refund” of the extra amount
- They want to switch to text or messaging apps immediately after matching
These are often signs of scam activity. A trustworthy online sugar daddy will take the time to verify their identity, respect boundaries, and follow the normal flow of conversation within the app.

Safe Practices for New Users

If you’re new to sugar dating, take steps to stay protected. Use apps with built-in safety tools like identity checks, secure messaging, and moderation. Stick to communication inside the app until you’re sure the person you’re speaking with is real.

It’s also smart to set clear boundaries. Let the other person know what you’re comfortable with, and don’t feel pressured to move too fast. If someone offers to send money right away, ask questions and be cautious.

While some sugar daddy apps do support long-distance or online-only arrangements, the safest and most rewarding connections usually come from people who are upfront, respectful, and interested in building trust over time.

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Why Millionaire Sugar Daddies Prefer Apps in 2025

Time, Privacy, and Precision

Many millionaire sugar daddies have demanding schedules and limited time for traditional dating. In 2025, sugar daddy apps have become a preferred tool for those who want to connect quickly and quietly. These users often seek arrangements that respect their time and offer clear expectations.

A sugar daddy app allows busy professionals to browse, match, and communicate without extended small talk. It saves time by focusing on users who are upfront about what they’re looking for. That directness appeals to people who are used to working with structure and efficiency.

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Lifestyle Matchmaking

Sugar daddy apps are also popular among high-income individuals because they offer matches that align with specific lifestyles. Whether dining out, luxury travel, or intellectual connection, the app format makes finding someone with shared interests easier.

Some users prefer arrangements that are travel-based or seasonal. A sugar daddy might spend part of the year in another city or travel often for work. The app format makes it possible to connect with people in different locations, schedule time in advance, and communicate discreetly while moving.

Discretion as a Key Feature

Privacy is vital to many high-net-worth individuals. Using a sugar daddy dating app gives them more control over what they share when they respond, and how they present their profiles. Features like photo blurring, private messaging, and verification options create a more secure experience.

These tools are handy for those who want to keep their personal lives separate from their business or public profiles. Many apps have built-in moderation to limit fake profiles and increase user trust.

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Sugar Daddy Sites vs. Sugar Daddy Apps

Both sugar daddy websites and apps serve the same purpose—helping people connect for mutually beneficial arrangements—but how users interact with them can differ.

Apps are built for convenience. They’re ideal for users who want access to matches on the go. Whether during a lunch break or while traveling, a sugar daddy app offers quick access to profiles, chat tools, and updates. The layout is simple and designed for mobile users who prefer efficiency.

On the other hand, sugar daddy sites often provide a more detailed experience. Longer bios, full-size photo galleries, and expanded search filters are common on the desktop version. Users who like to explore profiles more deeply or want to manage their matches from a larger screen may prefer this format.

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Hybrid Use Is Common

Many users switch between both. Someone might use a sugar daddy website at home and rely on the app when they’re out. This hybrid approach gives users flexibility, allowing them to maintain conversations and update their profiles from anywhere.

For someone trying to find a sugar daddy, or for a sugar daddy hoping to connect with someone who understands their lifestyle, having access to both formats can be helpful.

Online Connections That Fit Real Life

Whether through a mobile app or a desktop site, sugar dating platforms in 2025 are designed to fit into people’s daily routines. From a quick match to a long-term connection, these tools help people make decisions based on clarity, preference, and availability.

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How Sugar Daddy Apps Prioritize Safety in 2025

Verified Profiles Build Trust

Safety is one of the top concerns for anyone using a sugar daddy app in 2025. The best sugar daddy apps now require verification steps to protect users. These can include ID checks, selfie verification, and even income confirmation for sugar daddies. Verified profiles reduce the risk of scams and help people feel more secure when they start a new connection.

Verified accounts are easier to trust when using a sugar daddy dating app. Users can see who is serious about finding an arrangement and who might be trying to mislead others. Verification makes a real difference in the overall experience.

Photo Privacy and Secure Messaging

Modern sugar daddy apps also provide tools to keep personal information private. Features like photo blurring, hidden albums, and profile controls let users decide who sees what. These privacy settings give both sugar babies and sugar daddies more control over their visibility.

In-app messaging systems are designed to prevent spam and keep all conversations within a secure space. Some platforms also offer keyword filters to block suspicious messages. Together, these features help create a safer, more respectful environment.

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Scam Prevention and Moderation

Scam filtering has improved across many top sugar daddy websites and apps. Newer technology helps flag fake profiles and detect suspicious behavior early. When users report something that feels off, moderators can quickly review and act.

The presence of active moderation is part of what separates legit sugar daddy sites from platforms that allow anything. A well-managed community supports safe dating and keeps the experience real.

Why Verified Sugar Daddy Apps Matter

Choosing a verified sugar daddy app matters. These apps aren’t just more secure and attract more serious users. People are less likely to run into fake profiles, time-wasters, or scammers when verification and moderation are part of the platform.

Anyone looking to find a sugar daddy or connect with a real online sugar daddy should prioritize safety first. Verified apps are built to support that goal.

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Final Thoughts

Choosing the best sugar daddy app for your needs requires clarity about what you’re looking for—be it companionship, mentorship, or a luxurious lifestyle. The apps listed above each cater to different preferences and relationship styles. Explore the options, protect your privacy, and enjoy the journey of sugar dating in 2025.

FAQs

What are the best free sugar daddy apps?

Some platforms like sugardaddy.com offer free basic memberships with optional paid upgrades.

Can sugar babies get paid without meeting in person?

Yes, some arrangements are entirely virtual. However, these are based on trust and clear agreement.

Are sugar daddy apps safe to use?

Reputable sugar daddy apps use encryption, profile verification, and fraud detection tools to keep users safe.

Is sugar dating the same as escorting?

No. Sugar dating is about mutually agreed-upon relationships that may or may not include intimacy. Escorting is transactional and often illegal.

Are sugar daddy apps free?

Many sugar daddy apps allow users to create an account and browse for free. However, to unlock full features, such as sending messages, viewing full profiles, or accessing premium filters, there’s often a paid membership option. Some sugar daddy apps free do exist, but they may have limited tools or fewer privacy features. Premium versions typically offer more security and better results.

Do sugar daddies send money without meeting?

It’s possible, but it’s rare. Most real sugar daddies prefer talking and building trust before offering support. While the idea of sugar daddy apps that send money without a meeting is popular in searches, many of those offers are linked to scams. If someone offers money immediately without real conversation or identity verification, it’s best to be cautious.

How can I avoid scams on free sugar daddy apps?

Always use verified sugar daddy apps with built-in security features like ID checks and profile moderation to stay safe. Avoid users who ask for personal financial information early on, and be wary of anyone who refuses to video chat or verify their identity. Don’t move conversations off the app too soon. If something feels off, trust your instincts and report the account.

Where can I find a sugar daddy?

You can find a sugar daddy using platforms specifically designed for sugar dating. The best way is through sugar daddy websites or apps that allow you to set preferences, filter by lifestyle or location, and communicate safely.

Are sugar daddy relationships only about money?

No. While financial support can be part of the arrangement, many sugar relationships are based on emotional connection, shared interests, or mentorship. Some sugar babies are looking for guidance or companionship more than anything else. Likewise, sugar daddies often seek someone who understands their lifestyle and values honesty and communication.

Can sugar dating lead to long-term relationships?

Yes, it can. Some sugar dating arrangements stay short-term, while others grow into longer commitments, including serious relationships or even marriage. Every arrangement is unique, and both define its meaning to them. What matters most is that both parties clearly understand their expectations from the start.

Can men be sugar babies?

Yes, men can be sugar babies, too. While most platforms have more women using them in that role, many sites and apps support a wide range of gender identities and relationship preferences. The sugar dating space is becoming more inclusive, and more men are finding arrangements that work for their lifestyle goals and personal needs.

Media Contact

Company: Sugar Daddy LLC

Contact Person: Christopher A. Waldo

Email: support@sugardaddy.com

Address: 5820 Sunset Ridge Ave, Las Vegas, Nevada, USA

URL: https://www.sugardaddy.com/

Phone: +1 (888) 841-4235

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Attachment
- Sugar Daddy
The MIL Network –
May 1, 2025
MIL-OSI Europe: Highlights – European Court of Auditors (ECA) Special Report 08/2025 “VAT fraud on imports” – Subcommittee on Tax Matters

Source: European Parliament

On 14 May from 15:00 to 16:15, together with the CONT committee, the FISC Subcommittee will invite Mr François-Roger Cazala, Member responsible of the European Court of Auditors (ECA) to present its the Special report 08/2025 on “Value Added Tax fraud on imports – The EU’s financial interests are insufficiently protected under simplified import customs procedures”.

Value Added Tax (VAT) fraud negatively affects the collection of revenues in Member States as well as in the EU. According to the Commission, Member States lost around €89 billion in 2022. Fraud committed by traders on VAT levied on imports contributes to this loss and is one of the main types of cross-border VAT fraud affecting the fiscal policies and public finances of the EU.

“The EU’s financial interests and single market are not protected firmly enough against Value Added Tax (VAT) fraud on imports when simplified import customs procedures are used”, according to ECA. There are serious weaknesses in the checks carried out by Member States and shortcomings in the cooperation at EU level and across Member States to combat the abuse of these procedures.

The presentation will provide an opportunity for ECA to present its report and discuss its findings with CONT and FISC Members.

ECA pecial report 08/2025 on “Value Added Tax fraud on imports – The EU’s financial interests are insufficiently protected under simplified import customs procedures”

Source : © European Union, 2025 – EP

MIL OSI Europe News –

May 1, 2025
MIL-OSI Europe: Written question – The application of extended producer responsibility to pharmaceuticals under Article 9 of the Urban Waste Water Treatment Directive – E-001610/2025
Source: European Parliament
Question for written answer E-001610/2025
to the Commission
Rule 144
Aurelijus Veryga (ECR)

The application of extended producer responsibility (EPR) to pharmaceuticals under Article 9 of the Urban Waste Water Treatment Directive raises several concerns. Notably, only the pharmaceutical and cosmetic sectors are required to finance the removal of micropollutants, despite contributions to such pollution from various other industries.

The directive’s impact assessment lacks a comprehensive analysis of its implications for the pharmaceutical industry, particularly regarding access to medicines and pricing, at a time when many Member States are already facing shortages of medicinal products and efforts are under way to enhance the EU’s pharmaceutical autonomy.

In the light of these issues:

1.Does the Commission plan to conduct a comprehensive assessment of the EPR’s impact on patient access to medicines and on healthcare system costs?

2.If so, would the Commission consider pausing the implementation of the directive until such an assessment is completed?

3.Does the Commission intend to review the directive and consider expanding the scope of the EPR scheme to include other sectors contributing to water pollution, in order to ensure a fair and equitable application of the ‘polluter pays’ principle?

Submitted: 23.4.2025
Last updated: 29 April 2025
MIL OSI Europe News –
May 1, 2025
MIL-OSI Europe: Written question – Funding for ‘The European Qur’an’ project – E-001613/2025
Source: European Parliament
Question for written answer E-001613/2025
to the Commission
Rule 144
Anna Maria Cisint (PfE), Susanna Ceccardi (PfE), Silvia Sardone (PfE), Isabella Tovaglieri (PfE), Roberto Vannacci (PfE), Paolo Borchia (PfE)

Given the delicate economic and social situation facing the European Union, with global challenges requiring careful allocation of resources, the Commission’s decision to finance ‘The European Qur’an’ project to the tune of almost EUR 10 million warrants further investigation.

At a time when the public and businesses are calling for support and concrete responses, it is vital to understand the priorities underpinning the Union’s action and the extent to which they adhere to the founding principles of its institutions.

In view of the above:

1.Can the Commission explain the political and cultural objective of ‘The European Qur’an’ project and how it forms part of the Union’s strategic priorities?

2.Who are the direct and indirect beneficiaries of the funding, and what criteria were used to select them?

3.How does this funding align with the principle of religious neutrality enshrined in the EU’s founding treaties?

Submitted: 23.4.2025
Last updated: 29 April 2025
MIL OSI Europe News –
May 1, 2025
MIL-OSI Europe: At a Glance – A revamped long-term budget for the Union in a changing world – 30-04-2025

Source: European Parliament

The European Parliament is due to adopt its vision for the European Union’s post-2027 long-term budget during the May plenary session. Ahead of the European Commission’s proposal, expected in July, the report adopted by the Committee on Budgets insists that the next multiannual financial framework (MFF) must be significantly above 1 % of the EU’s gross national income (GNI). The report rejects the ‘one national plan per Member State’ approach, as envisaged by the European Commission, as a basis for shared management of post-2027 spending.

MIL OSI Europe News –

May 1, 2025
MIL-OSI Europe: At a Glance – Discharge for 2023 budget: European Commission – 30-04-2025

Source: European Parliament

During the May I plenary session, the European Parliament is to decide on granting discharge for the 2023 financial year to the different EU institutions and bodies. Accounting for more than 95 % of the overall EU budget, the European Commission’s budget is at the centre of the discharge procedure. The discharge of the Commission includes its six executive agencies and the grant component of the Recovery and Resilience Facility (RRF). Separate discharge is granted to the Commission concerning the management of the European Development Funds (EDFs). The Committee on Budgetary Control (CONT) recommends that Parliament grant discharge to the Commission, all executive agencies and the EDFs for the 2023 budget.

MIL OSI Europe News –

May 1, 2025
MIL-OSI Europe: At a Glance – Discharge for 2023 budget: EU decentralised agencies and joint undertakings – 30-04-2025

Source: European Parliament

During the May I plenary session, as part of the discharge procedure for the 2023 financial year, the European Parliament is due to vote on discharge for 33 EU decentralised agencies and 11 joint undertakings (JUs). The Committee on Budgetary Control (CONT) recommends granting discharge to all decentralised agencies, bodies and JUs, except for the European Union Asylum Agency (EUAA), for which it proposes that the decision on discharge be postponed.

MIL OSI Europe News –

May 1, 2025
MIL-OSI Europe: Written question – Lack of transparency and accountability in ‘Heracles’ securitised loans and borrower protection – E-001601/2025
Source: European Parliament
Question for written answer E-001601/2025
to the Commission
Rule 144
Nikolaos Anadiotis (NI)

The Commission approved the Greek State guarantees for securitisation of non-performing loans totalling EUR 28 billion under the ‘Heracles I’[1], ‘II’[2] and ‘III’ programmes[3]. The aid provided a benefit to creditors, with the stated aim of ‘reducing systemic risk and cleaning up banks’ balance sheets’.

However, many borrowers complain that, after transferring their loans to management companies or funds, they do not have access to basic information, namely the initial and current claim, payments made, surcharges and other charges, nor the way in which the final amount was calculated In many cases, they are led to a legal and financial impasse, without tools to control or negotiate their debt, due to companies being unaware of the full history of the loans. The gap in transparency and accountability potentially affects citizens’ rights.

In view of the above:

1.Does the Commission monitor the maintenance and transfer of complete bank records?

2.Does the Commission consider that the principles of good administration, transparency and consumer protection are being fulfilled?

3.Does the Commission intend to issue recommendations on the mandatory provision of detailed account statements to borrowers?

Submitted: 22.4.2025

[1] https://ec.europa.eu/commission/presscorner/detail/el/ip_19_6058, 10/10/2019.

[2] https://ec.europa.eu/commission/presscorner/detail/el/ip_21_1661, 9/4/2021.

[3] https://ec.europa.eu/commission/presscorner/detail/el/ip_23_5805, 28/11/2023.
Last updated: 30 April 2025
MIL OSI Europe News –
May 1, 2025
MIL-OSI Europe: Written question – Acquisition of X by Elon Musk’s artificial intelligence start-up xAI – E-001615/2025
Source: European Parliament

Question for written answer E-001615/2025
to the Commission
Rule 144
Sandro Ruotolo (S&D), Estelle Ceulemans (S&D), Nathalie Loiseau (Renew), Marco Tarquinio (S&D), Alessandro Zan (S&D), Cristina Guarda (Verts/ALE), Anthony Smith (The Left), Benedetta Scuderi (Verts/ALE), Alessandra Moretti (S&D), Sandra Gómez López (S&D), Kim Van Sparrentak (Verts/ALE), Camilla Laureti (S&D), Matteo Ricci (S&D), Stefano Bonaccini (S&D), Dario Nardella (S&D), Raffaele Topo (S&D), Giuseppe Lupo (S&D), Antonio Decaro (S&D), Csaba Molnár (S&D), Klára Dobrev (S&D), Annalisa Corrado (S&D), Dario Tamburrano (The Left), Elio Di Rupo (S&D), Ignazio Roberto Marino (Verts/ALE), Giorgio Gori (S&D), Cecilia Strada (S&D), Lucia Annunziata (S&D), Pina Picierno (S&D), Krzysztof Śmiszek (S&D), Pierfrancesco Maran (S&D), Elisabeth Grossmann (S&D), Alex Agius Saliba (S&D), Brando Benifei (S&D), Cynthia Ní Mhurchú (Renew), David Cormand (Verts/ALE), Alexandra Geese (Verts/ALE), Hannes Heide (S&D), Daniel Freund (Verts/ALE), Emma Rafowicz (S&D), Chloé Ridel (S&D), Veronika Cifrová Ostrihoňová (Renew), Lucia Yar (Renew), Ana Miranda Paz (Verts/ALE)

Elon Musk has announced that his artificial intelligence start-up, xAI, has acquired X through a deal that valued Twitter’s successor at USD 45 billion, and xAI itself at USD 80 billion.

This acquisition will enable xAI to leverage the vast amounts of data from X, generated by its 600 million users, to train its AI models.

Musk’s concentration of power, as an advisor to the US Government on bureaucratic efficiency and owner of Tesla, SpaceX, Starlink and Neuralink, is concerning from both a socio-economic and a legal perspective.

The deal appears to give little consideration to antitrust regulations, personal data protection or financial transparency.

Moreover, X, which does not adhere to the EU Code of Practice on Disinformation, is a platform inundated with fake news and propaganda, driven by its algorithms. For this reason, the deal raises concerns about potential risks of information manipulation, especially since xAI will be trained using data from the platform.

We therefore ask the Commission:
- 1.Will it launch an investigation under EU antitrust law?
- 2.Does it consider this massive data acquisition to be in compliance with the General Data Protection Regulation?
- 3.How will it protect European consumers from AI models trained on fake news?
Submitted: 23.4.2025
MIL OSI Europe News –
May 1, 2025
MIL-OSI Europe: Answer to a written question – Does the Commission intend to give priority to the EU’s external commitments in the next multiannual financial framework? – E-000691/2025(ASW)
Source: European Parliament
As stated in the communication on ‘The road to the next multiannual financial framework[1]’, the EU budget must continue to play a central role in promoting the EU’s prosperity, competitiveness, sovereignty, security, resilience, preparedness and global influence, while upholding the highest standards on rule of law and democratic values.

In light of the policy and budgetary challenges the EU is facing for the EU budget to achieve these objectives, the status quo is not an option. Among others, the global political and economic landscape poses challenges of unprecedented magnitude.

The scale of the challenges ahead calls for an ambitious budget, both in size and design. The next long-term budget will have to address the complexities, weaknesses and rigidities that are currently present and maximise the impact of every euro it spends, focusing on EU priorities and objectives where the EU action is mostly needed.

[1] https://eur-lex.europa.eu/legal-content/EN/TXT/PDF/?uri=CELEX:52025DC0046
Last updated: 30 April 2025
MIL OSI Europe News –
May 1, 2025
MIL-OSI Europe: Written question – Safeguarding long-term cohesion policy investments – E-001657/2025
Source: European Parliament
Question for written answer E-001657/2025
to the Commission
Rule 144
Sérgio Gonçalves (S&D)

The reprogramming of cohesion policy funds to support new areas, including affordable housing and defence industry investments, constitutes a major strategic shift. While it is important to respond to emerging challenges, there is a risk of undermining structural investment goals. The proposed 100 % co-financing rate may reduce financial engagement, while the decision to extend implementation deadlines solely for reprogrammed funds appears unjustified, considering recent exceptional disruptions. Many projects were already reshuffled between instruments as a result of the COVID-19 pandemic and the overlap with the Recovery and Resilience Facility.

Given this:

1.Does the Commission not fear that full co-financing and the extension of deadlines for new priority projects will lead the Member States to deprioritise long-term cohesion investments?

2.What indicators will be used to assess performance in new areas, particularly housing and defence, and what role will national and regional authorities play in monitoring defence-related investments?

3.Does the Commission envisage any of these new areas becoming a permanent part of cohesion policy?

Submitted: 24.4.2025
Last updated: 30 April 2025
MIL OSI Europe News –
May 1, 2025
MIL-OSI Europe: In-Depth Analysis – US tariffs: economic, financial and monetary repercussions – 30-04-2025

Source: European Parliament

This briefing assesses the economic, financial, and monetary implications of the tariffs announced by the Trump administration for the EU. Starting with an overview of US measures and EU countermeasures, it analyses the impact on the EU economy across sectors and member states, explains monetary policy challenges for the ECB, and discusses strategic options for European policymakers. As the situation evolves rapidly, the assessment provided in this briefing reflects information available as of 29 April 2025, with updates to follow as developments unfold.

MIL OSI Europe News –

May 1, 2025
MIL-OSI Europe: Written question – Common agricultural policy (CAP) budget and the multiannual financial framework 2028-2034 – E-001605/2025
Source: European Parliament
Question for written answer E-001605/2025
to the Commission
Rule 144
Dario Nardella (S&D), Stefano Bonaccini (S&D), André Rodrigues (S&D), Maria Grapini (S&D), Camilla Laureti (S&D), Marko Vešligaj (S&D), Christophe Clergeau (S&D), Eric Sargiacomo (S&D)

The Commission communication entitled ‘A Vision for Agriculture and Food’ (COM(2025)0075) outlines the areas to be worked on to achieve an attractive, competitive and resilient agricultural and food sector for future generations. In particular, public support through the CAP remains crucial to sustain and stabilise farmers’ incomes.

In its communication entitled ‘The road to the next multiannual financial framework’ (COM(2025)0046), the Commission introduces the notion of ‘one plan per country’, alluding to a single fund managed at national level, which would be a major blow to the commonality of key EU policies, and would also have an impact on food security and food sovereignty.

Can the Commission answer the following questions:

1.How does it plan to fund the objectives outlined in the vision, while avoiding reductions in CAP resources and addressing the impact of inflation?

2.Does it stand by the proposal for a ‘single fund’ that would merge financing from key policies such as the CAP and cohesion policy, despite concerns about the potential dilution of their specific objectives and priorities?

3.How does it intend to safeguard Parliament’s role in shaping the future multiannual financial framework, to ensure that the Union’s actions fully reflect the needs and expectations of its citizens and territories?

Submitted: 22.4.2025
Last updated: 30 April 2025
MIL OSI Europe News –
May 1, 2025
MIL-OSI Europe: Answer to a written question – Impact of Greece’s golden visa scheme on the housing market – E-000613/2025(ASW)
Source: European Parliament

Since the adoption of the European Parliament resolution[1] on investor residence schemes[2], the Commission has taken action to address the risks related to security, money-laundering, tax evasion and corruption.

In its 2022 Recommendation[3], the Commission called on Member States to take measures to prevent such risks and take specific actions regarding investor residence permit granted to nationals of Russia and Belarus.

The new Anti-Money Laundering package[4] also introduces strict obligations on involved actors and requires Member States running these schemes to assess and monitor risks, and to put in place mitigating measures.

In addition, the proposed recast of the Long-Term Residents Directive[5] includes rules to prevent third-country investors from abusively acquiring EU long-term resident status.

With regards to the social impact of “golden visa” schemes, the Commission notes that in respect of the subsidiarity and proportionality principles, primary responsibility for housing is within the remit of Member States, and regional and local authorities. However, the Commission is already providing support to Member States through a variety of funding and programmes[6].

In addition, the Commission appointed the first-ever Commissioner responsible for housing and established a Task Force for Housing. The Commission will put forward a European Affordable Housing Plan to help national, regional and local authorities address structural drivers of the housing crisis.

The Commission will foster investments in affordable housing through a pan-European investment platform[7], by allowing Member States to double cohesion policy investments in this area and by reviewing state aid rules to enable housing support measures.
- [1] European Parliament resolution of 9 March 2022 with proposals to the Commission on citizenship and residence by investment schemes (2021/2026(INL)) proposed to phase out CBI (Citizenship by investment Schemes) by 2025, and proposed other measures to address the risks posed by RBI (Residence by investment schemes) which are commonly named as ‘golden visas (https://www.europarl.europa.eu/doceo/document/TA-9-2022-0065_EN.pdf).
- [2] Commonly known as “golden visa” schemes.
- [3] C(2022) 2028 final, Commission Recommendation on immediate steps in the context of the Russian invasion of Ukraine in relation to investor citizenship and investor residence schemes .
- [4] In particular: Directive (EU) 2024/1640 of the European Parliament and of the Council of 31 May 2024 on the mechanisms to be put in place by Member States for the prevention of the use of the financial system for the purposes of money laundering or terrorist financing, amending Directive(EU) 2019/1937, and amending and repealing Directive (EU) 2015/849; Regulation (EU) 2024/1624 of the European Parliament and of the Council of 31 May 2024 on the prevention of the use of the financial system for the purposes of money laundering or terrorist financing.
- [5] COM(2022) 650 final.
- [6] Including the Recovery and Resilience Plans, the European Regional Development Fund , the Cohesion Fund and Just Transition Fund, as well as the InvestEU programme’s Social Investments and skills window and sustainable infrastructure window and the European Social Fund+ .
- [7] To be established in cooperation with the European Investment Bank and other financial institutions.
MIL OSI Europe News –
May 1, 2025
MIL-OSI Europe: Highlights – European Court of Auditors (ECA) Special Report 08/2025 on “VAT fraud on imports” – Committee on Budgetary Control

Source: European Parliament

European Court of Auditors © Image used under the license from Adobe Stock

On 14 May from 15:00 to 16:15, together with the CONT committee, the FISC Subcommittee will invite Mr François-Roger Cazala, Member responsible of the European Court of Auditors (ECA) to present its the Special report 08/2025 on “Value Added Tax fraud on imports – The EU’s financial interests are insufficiently protected under simplified import customs procedures”.

Value Added Tax (VAT) fraud negatively affects the collection of revenues in Member States as well as in the EU. According to the Commission, Member States lost around €89 billion in 2022. Fraud committed by traders on VAT levied on imports contributes to this loss and is one of the main types of cross-border VAT fraud affecting the fiscal policies and public finances of the EU. “The EU’s financial interests and single market are not protected firmly enough against Value Added Tax (VAT) fraud on imports when simplified import customs procedures are used”, according to ECA. There are serious weaknesses in the checks carried out by Member States and shortcomings in the cooperation at EU level and across Member States to combat the abuse of these procedures. The presentation will provide an opportunity for ECA to present its report and discuss its findings with CONT and FISC Members.

MIL OSI Europe News –

May 1, 2025
MIL-OSI Europe: Answer to a written question – Addressing obstacles to the effective cross-border provision of insurance – E-000442/2025(ASW)
Source: European Parliament
1. While financial institutions are subject to some common EU rules, in particular in the regulatory field, indirect taxation of insurance transactions, apart from the place of taxation, has not yet been harmonised at EU level. Some Member States do not subject insurance transactions to any form of indirect taxation while the majority apply special taxes and other forms of contribution to insurance transactions, including surcharges intended for compensation bodies. The structure and rates of such taxes and contributions vary considerably between the Member States in which they are applied[1]. Pending subsequent harmonisation[2], the tax rules provided for by the Member State in which the risk is situated or by the Member State in which the commitment continue to apply. The Commission is engaged in preparatory work to identify solutions to barriers to integration, cross-border operations and digitalisation and innovation stemming from the current tax framework for the financial sector.

2. The Commission is currently preparing a report on the application of Regulation (EU) No 1215/2012 of the European Parliament and of the Council of 12 December 2012 on jurisdiction and the recognition and enforcement of judgments in civil and commercial matters (recast). The report will present the first general assessment of the application of the regulation after the recast in 2012. The report looks, among others, into the matters relating to the rules on jurisdiction over insurance contracts. Based on the findings of the report, the Commission will consider whether any further steps are necessary, including the possible amendment of the current rules on jurisdiction in insurance matters.

[1] Recital 87 of Directive 2009/138/EC of the European Parliament and of the Council of 25 November 2009 on the taking-up and pursuit of the business of Insurance and Reinsurance (Solvency II), OJ L 335, 17/12/2009, p. 1-155.

[2] Article 157 of Directive 2009/138/EC.
Last updated: 30 April 2025
MIL OSI Europe News –
May 1, 2025
MIL-OSI Asia-Pac: Prime Minister Shri Narendra Modi inaugurates WAVES 2025

Source: Government of India

Prime Minister Shri Narendra Modi inaugurates WAVES 2025

WAVES highlights India’s creative strengths on a global platform: PM

World Audio Visual And Entertainment Summit, WAVES, is not just an acronym, It is a wave of culture, creativity and universal connectivity: PM

India, with a billion-plus population, is also a land of a billion-plus stories: PM

This is the right time to Create In India, Create For The World: PM

Today when the world is looking for new ways of storytelling, India has a treasure of its stories dating back thousands of years, this treasure is timeless, thought-provoking and truly global: PM

This is the time of dawn of Orange Economy in India, Content, Creativity and Culture – these are the three pillars of Orange Economy: PM

Screen size may be getting smaller, but the scope is becoming infinite, Screen is getting micro but the message is becoming mega: PM

Today, India is emerging as a global hub for film production, digital content, gaming, fashion, music and live concerts: PM

To the creators of the world — dream big and tell your story, To investors — invest not just in platforms, but in people, To Indian youth — tell your one billion untold stories to the world: PM

Posted On: 01 MAY 2025 1:42PM by PIB Delhi

Prime Minister Shri Narendra Modi inaugurated the WAVES 2025, India’s first-of-its-kind World Audio Visual and Entertainment Summit at the Jio World Centre, Mumbai today. Addressing the gathering on the occasion, he greeted everyone on the occasion of Maharashtra day and Gujarat Statehood day being celebrated today. Acknowledging the presence of all international dignitaries, ambassadors, and leaders from the creative industry, the Prime Minister highlighted the significance of the gathering, emphasizing that over 100 countries’ artists, innovators, investors, and policymakers have come together to lay the foundation for a global ecosystem of talent and creativity. “WAVES is not merely an acronym but a wave representing culture, creativity, and universal connectivity”, he remarked, further underlining that the summit showcases the expansive world of films, music, gaming, animation, and storytelling, offering a global platform for artists and creators to connect and collaborate. The Prime Minister congratulated all participants on this historic occasion and extended his warm welcome to the distinguished guests from India and abroad.

Reflecting on India’s rich cinematic history at the WAVES Summit, Shri Modi noted that on May 3, 1913, India’s first feature film, Raja Harishchandra, was released, directed by the pioneering filmmaker Dadasaheb Phalke. He recalled that Phalke’s birth anniversary was celebrated just a day earlier. He underscored the impact of Indian cinema over the past century, stating that it has successfully taken India’s cultural essence to every corner of the world. He highlighted the popularity of Raj Kapoor in Russia, the global recognition of Satyajit Ray at Cannes, and the Oscar-winning success of RRR, emphasizing how Indian filmmakers continue to shape global narratives. He also acknowledged the cinematic poetry of Guru Dutt, the social reflections of Ritwik Ghatak, the musical genius of A.R. Rahman, and the epic storytelling of S.S. Rajamouli, stating that each of these artists has brought Indian culture to life for millions worldwide. Shri Modi also remarked that Indian cinema legends were honored through commemorative postage stamps, paying tribute to their contributions to the industry.

Emphasising the importance of India’s creative capability and global collaboration, the Prime Minister remarked that over the years, he has engaged with professionals from gaming, music, filmmaking, and acting, discussing ideas and insights that deepened his understanding of the creative industries. He highlighted a unique initiative undertaken during Mahatma Gandhi’s 150th birth anniversary, where singers from 150 countries came together to perform ‘Vaishnav Jan To’, a hymn written by Narsinh Mehta nearly 500-600 years ago. He stated that this global artistic effort created a significant impact, bringing the world together in harmony. He further noted that several individuals present at the summit had contributed to the Gandhi One Fifty initiative by creating short video messages, advancing Gandhi’s philosophies. He remarked that the collective strength of India’s creative world, combined with international collaboration, has already demonstrated its potential, and that vision has now materialized as WAVES.

Shri Modi praised the resounding success of the first edition of the WAVES Summit, stating that from its very first moment, the event has captured global attention and is “roaring with purpose.” He acknowledged the dedication and efforts of the summit’s Advisory Board, emphasizing their role in making WAVES a landmark event in the creative industry. He highlighted the large-scale Creators Challenge and Creatosphere initiative, which saw participation from approximately 100,000 creative professionals across 60 countries. He remarked that out of 32 challenges, 800 finalists have been selected, recognizing their talent and congratulating them on their achievement. He encouraged the finalists, stating that they now have the opportunity to make their mark on the global creative stage.

The Prime Minister expressed enthusiasm for the creative developments showcased at the Bharat Pavilion during the WAVES Summit. He remarked that significant innovation has been achieved, and he looked forward to witnessing these creations firsthand. The Prime Minister highlighted the WAVES Bazaar initiative, noting its potential to encourage new creators and connect them with emerging markets. He praised the concept of linking buyers and sellers in the art industry, stating that such initiatives strengthen the creative economy and provide fresh opportunities for artists.

Reflecting on the deep-rooted connection between creativity and human experience, stating that a child’s journey begins with the lullaby of a mother, their first introduction to sound and music, Shri Modi remarked that just as a mother weaves dreams for her child, creative professionals shape the dreams of an era. He underscored that the essence of WAVES lies in bringing together such visionary individuals who inspire and influence generations through their art.

Reaffirming his belief in collective efforts, stating that the dedication of artists, creators, and industry leaders will elevate WAVES to new heights in the coming years, Shri Modi urged his industry counterparts to continue the same level of support and handholding that made the first edition of the summit a success. He remarked that many exciting waves are yet to come and announced that WAVES Awards will be launched in the future, establishing themselves as the most prestigious honors in the world of art and creativity. He emphasized the need for sustained commitment, stating that the goal is to win the hearts of people across the world and inspire generations through creativity.

Highlighting India’s rapid economic progress, stating that the nation is on its way to becoming the world’s third-largest economy, the Prime Minister remarked that India holds the number one position in global fintech adoption, is the second-largest mobile manufacturer, and has the third-largest startup ecosystem worldwide. He emphasized that India’s journey toward becoming a developed nation has only begun and has much more to offer. “India is not only home to a billion-plus population but also a billion-plus stories”, he added. Referencing the country’s rich artistic history, he recalled that two thousand years ago, Bharata Muni’s Natya Shastra emphasized the power of art in shaping emotions and human experiences. He noted that centuries ago, Kalidasa’s Abhijnana-Shakuntalam introduced a new direction in classical drama. Prime Minister underscored the deep cultural roots of India, stating that every street has a story, every mountain carries a song, and every river hums a tune. He remarked that India’s six lakh villages each have their own folk traditions and unique storytelling styles, with communities preserving their histories through folklore. He highlighted the spiritual significance of Indian music, noting that whether it is bhajans, ghazals, classical compositions, or contemporary tunes, every melody carries a story, and every rhythm holds a soul.

Shri Modi underscored India’s deep-rooted artistic and spiritual heritage at the WAVES Summit, highlighting the concept of Naad Brahma, the divine sound. He remarked that Indian mythology has always expressed divinity through music and dance, citing Lord Shiva’s Damru as the first cosmic sound, Goddess Saraswati’s Veena as the rhythm of wisdom, Lord Krishna’s Flute as an eternal message of love, and Lord Vishnu’s Shankha as a call for positive energy. He emphasized that the mesmerizing cultural presentation at the summit also reflected this rich heritage. Declaring that “this is the right time,” Shri Modi reiterated India’s vision of Create in India, Create for the World, asserting that the country’s storytelling tradition offers an invaluable treasure spanning thousands of years. He highlighted that India’s stories are Timeless, Thought-Provoking, and Truly Global, encompassing not just cultural themes but also science, sports, courage, and bravery. He remarked that India’s storytelling landscape blends science with fiction, and heroism with innovation, forming a vast and diverse creative ecosystem. He called upon the WAVES platform to take on the responsibility of sharing India’s extraordinary stories with the world, bringing them to future generations through new and engaging formats.

Drawing parallels between the People’s Padma awards and the vision behind the WAVES Summit, stating that both initiatives aim to recognize and uplift talent from every corner of India, the Prime Minister remarked that while Padma Awards started a few years after independence, they truly transformed when India embraced the People’s Padma, recognizing individuals serving the nation from remote areas. This shift, he emphasized, turned the awards from a ceremony into a national celebration. Similarly, the Prime Minister stated that WAVES will serve as a global platform for India’s immense creative talent across films, music, animation, and gaming, ensuring that artists from every part of the country find recognition on an international stage.

Underscoring India’s tradition of embracing diverse ideas and cultures, referencing a Sanskrit phrase, Shri Modi emphasized that India’s civilizational openness has welcomed communities like Parsis and Jews, who have thrived in the country and become an integral part of its cultural fabric. He acknowledged the presence of ministers and representatives from various countries, noting that every nation has its own successes and contributions. He remarked that India’s strength lies in respecting and celebrating global artistic achievements, reinforcing the country’s commitment to creative collaboration. He emphasized that by creating content that reflects the accomplishments of different cultures and nations, WAVES can strengthen the vision of global connectivity and artistic exchange.

The Prime Minister extended an invitation to the global creative community, assuring them that engaging with India’s stories would reveal narratives deeply resonant with their own cultures. He emphasized that India’s rich storytelling tradition carries themes and emotions that transcend borders, creating a natural and meaningful connection. He remarked that international artists and creators who explore India’s stories will experience an organic bond with the nation’s heritage. He stated that this cultural synergy will make India’s vision of Create in India even more compelling and accessible to the world.

“This is the time of dawn of Orange Economy in India, Content, Creativity and Culture – the three pillars of Orange Economy”, exclaimed Shri Modi, remarking that Indian films have now reached audiences in over 100 countries, with global viewers increasingly seeking to understand Indian cinema beyond surface-level appreciation. He highlighted the growing trend of international audiences watching Indian content with subtitles, signaling deeper engagement with India’s stories. Shri Modi also noted that India’s OTT industry has witnessed tenfold growth in recent years, stating that while screen sizes may be shrinking, the scope of content is infinite, with micro screens delivering mega messages. He observed that Indian cuisine is becoming a global favorite and expressed confidence that Indian music will soon gain similar worldwide recognition.

Emphasizing the immense potential of India’s creative economy, stating that in the coming years, its contribution to the country’s GDP is set to increase significantly, the Prime Minister remarked, “India is emerging as a global hub for film production, digital content, gaming, fashion, and music”. He noted the promising growth opportunities in the live concert industry and the vast potential in the global animation market, which currently stands at over $430 billion and is projected to double in the next decade. The Prime Minister highlighted that this presents a significant opportunity for India’s animation and graphics industry, urging stakeholders to leverage this expansion for greater international reach.

Calling upon India’s young creators to drive the nation’s Orange Economy forward, acknowledging that their passion and hard work are shaping a new wave of creativity, Shri Modi emphasized that whether they are musicians from Guwahati, podcasters from Kochi, game designers in Bengaluru, or filmmakers in Punjab, their contributions are fueling India’s growing creative sector. He assured that the government stands firmly behind creative professionals, supporting them through initiatives like Skill India, Startup Support, policies for the AVGC Industry, and global platforms like WAVES. He remarked that every effort is being made to build an environment where innovation and imagination are valued, fostering new dreams and empowering individuals to bring those dreams to life. Shri Modi highlighted that WAVES will serve as a major platform where Creativity meets Coding, Software blends with Storytelling, and Art merges with Augmented Reality. He urged young creators to make the most of this opportunity, dream big, and dedicate their efforts to realizing their visions.

The Prime Minister expressed his unwavering confidence in India’s content creators, highlighting that their free-flowing creativity is redefining the global creative landscape. He emphasized that the youthful spirit of India’s creators knows no barriers, boundaries, or hesitation, allowing innovation to thrive. He remarked that through his personal interactions with young creators, gamers, and digital artists, he has witnessed firsthand the energy and talent emerging from India’s creative ecosystem. He acknowledged that India’s massive young population is driving new creative dimensions, from reels, podcasts, and games to animation, stand-up, and AR-VR formats. The Prime Minister asserted that WAVES is a platform designed specifically for this generation—one that enables young minds to reimagine and redefine the creative revolution with their energy and efficiency.

Underscoring the importance of Creative Responsibility in a technology-driven 21st century, Shri Modi emphasised that as technology increasingly influences human lives, extra efforts are needed to preserve emotional sensitivity and cultural richness. He remarked that the creative world holds the power to foster human compassion and deepen societal consciousness. He asserted that the goal is not to create robots but to nurture individuals with heightened sensitivity, emotional depth, and intellectual richness—qualities that cannot stem from information overload or technological speed alone. Shri Modi stressed on the importance of art, music, dance, and storytelling, noting that these forms have kept human sensibilities alive for thousands of years. He urged creatives to reinforce these traditions and build a more compassionate future. He also highlighted the need to protect young generations from divisive and harmful ideologies, stating that WAVES can serve as a vital platform to uphold cultural integrity and instill positive values. He warned that neglecting this responsibility could have grave consequences for future generations.

Emphasising the transformative impact of technology on the creative world, the Prime Minister highlighted the importance of global coordination to harness its full potential. He remarked that WAVES will serve as a bridge connecting Indian creators with global storytellers, animators with global visionaries, and transform gamers to global champions. He invited international investors and creators to embrace India as their content playground and explore the country’s vast creative ecosystem. Addressing global creators, the Prime Minister urged them to dream big and tell their story. He encouraged investors to invest not just in platforms, but in people, and called on Indian youth to share their one billion untold stories with the world. He concluded by extending his best wishes to all participants of the inaugural WAVES Summit.

The Governor of Maharashtra Shri C. P. Radhakrishnan, Chief Minister of Maharashtra, Shri Devendra Fadnavis, Union Ministers, Shri Ashwini Vaishnaw, Dr. L. Murugan were present among other dignitaries at the event.

Background

WAVES 2025 is a four-day summit with tagline “Connecting Creators, Connecting Countries” is poised to position India as a global hub for media, entertainment, and digital innovation by bringing together creators, startups, industry leaders, and policymakers from across the world.

In line with Prime Minister’s vision of leveraging creativity, technology, and talent to shape a brighter future, WAVES will integrate films, OTT, gaming, comics, digital media, AI, AVGC-XR, broadcasting, and emerging tech, making it a comprehensive showcase of India’s media and entertainment prowess. WAVES aims to unlock a $50 billion market by 2029, expanding India’s footprint in the global entertainment economy.

At WAVES 2025, India is also hosting the Global Media Dialogue (GMD) for the first time, with ministerial participation from 25 countries, marking a milestone in the country’s engagement with the global media and entertainment landscape. The Summit will also feature the WAVES Bazaar, a global e-marketplace with over 6,100 buyers, 5,200 sellers, and 2,100 projects. It aims to connect buyers and sellers locally and globally, ensuring wide-reaching networking and business opportunities.

Prime Minister visited the Creatosphere and interacted with creators, selected from the 32 Create in India Challenges launched nearly a year ago, which garnered over one lakh registrations. He will also visit the Bharat Pavilion.

WAVES 2025 will witness participation from over 90 countries, with more than 10,000 delegates, 1,000 creators, 300+ companies, and 350+ startups. The summit will feature 42 plenary sessions, 39 breakout sessions, and 32 masterclasses spanning diverse sectors including broadcasting, infotainment, AVGC-XR, films, and digital media.

Today, India is emerging as a global hub for film production, digital content, gaming, fashion, music and live concerts. pic.twitter.com/ubo3q8tx7S

— PMO India (@PMOIndia) May 1, 2025

To the creators of the world — dream big and tell your story.

To investors — invest not just in platforms, but in people.

To Indian youth — tell your one billion untold stories to the world: PM @narendramodi pic.twitter.com/g7rwE4urf8

— PMO India (@PMOIndia) May 1, 2025

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MJPS/SR

(Release ID: 2125725) Visitor Counter : 80

MIL OSI Asia Pacific News –

May 1, 2025
MIL-OSI Asia-Pac: Depot Darpan portal & mobile application to ensure Food Storage depots meet highest quality & performance standards
Source: Government of India

Posted On: 01 MAY 2025 1:41PM by PIB Delhi

The Department of Food and Public Distribution (DFPD), Government of India, ensures food security for over 80 crore beneficiaries through scientific warehousing and smart storage solutions for food grains.

DFPD is now envisaging the Depot Darpan portal and mobile application with the objective to ensure that the Food Storage depots meet the highest quality and performance standards. It enables Depot managers to evaluate infrastructure, operational and financial performance on a near real-time basis

Depot Managers upload geo-tagged inputs of the infrastructure available in their depot, generating automated ratings and action points for timely improvements. The system ensures 100% validation by the supervisory officers and random third-party audits.

The warehouses are assessed based on two main categories:
- Infrastructural aspects which include safety standards, storage conditions, environmental, technology adoption and statutory parameters.
- Operational efficiency aspects which include stock turnover, losses, space utilization, manpower expenses, and profitability.
Each category is evaluated independently, and the warehouse receives a Star rating based on the composite scoring from both parameters.

Depot Darpan is uniquely integrated with smart warehousing technologies, creating a seamless digital monitoring ecosystem that includes: CCTV Surveillance and IoT sensors, monitoring key parameters such as CO₂ & Phosphine levels, fire hazards, humidity, unauthorized entry and temperature in real time thereby, ensuring security and efficiency in food grain storage.

The IoT-Enabled Monitoring includes:
1. Ambient sensor – Temperature and relative humidity to monitor grain moisture and temperature
2. Carbon dioxide (CO2) – To monitor and indicate potential grain infestation
3. Phosphine gas sensor – Ensures occupational safety for workers through early warning to prevent exposure to toxic gas levels Detects fumigation leakages, increasing effectiveness of treatment
4. Gate Shutter sensor – Detection of unauthorized door access. – Alerts for unauthorized door openings outside designated hours. Monitors door status during fumigation processes. Ensures proper ventilation by tracking door openings as required.
5. Fire/smoke sensor- Provides early warning to prevent fire-related damage and ensure safety.
In addition, AI based technology for bag counting, ANPR (Automatic Number plate Recognition) for vehicle identification and tracking, and Face Recognition technology (FRS) for access control and security are also deployed in warehouses on pilot basis.

A total of around 2278 warehouses including those owned by FCI & CWC and that hired from State agencies/ private will be onboarded in this digital initiative.

Depot Darpan mobile app allows supervisory officials to track warehouse performance anytime, anywhere, supporting better decision making. Automated reports are used in regular reviews, leading to continuous and seamless improvements in infrastructure and efficiency.

Depot Darpan, a mirror of warehousing excellence, ensures improved warehousing and greater operational efficiency in the public distribution system and reinforces the commitment to the nation’s food security with every grain scientifically stored.

Depot Darpan portal and mobile application shall be formally inaugurated by Union Minister of Consumer Affairs, Food & Public Distribution and New and Renewable Energy on 20^th May, 2025.

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Abhishek Dayal/Nihi Sharma

(Release ID: 2125724) Visitor Counter : 88

MIL OSI Asia Pacific News –
May 1, 2025
MIL-OSI: Political risk tops companies’ ERM risk registers, according to latest Willis Political Risk Survey
Source: GlobeNewswire (MIL-OSI)

LONDON, May 01, 2025 (GLOBE NEWSWIRE) — Political risks rank among the top five risks on the Enterprise Risk Management (ERM) risk register for 75% of global companies, with 11% identifying it as the number one risk. Highly exposed industries, such as contracting, transport and mining are disproportionately affected, according to the eighth annual Political Risk Survey and Report by Willis, a WTW business, (NASDAQ:WTW).

The survey revealed that 58% of respondents anticipated a negative financial impact on their organization due to the imposition of tariffs by the US. This figure is nearly as high as the 60% who reported financial setbacks from the Russia – Ukraine conflict in 2023 and significantly exceeds the 28% who cited negative effects from Western tensions with China and the Middle East conflict.

Other key findings were:
- Over the past eight years since the survey began, 2023 saw the highest political risk losses, driven by expropriation, political violence and currency convertibility issues. Notably, 18% of respondents faced losses significant enough to require corporate earnings restatements.
- Companies were most likely to rely on direct negotiations with host governments and political risk insurance to recover such prior losses. In 2025, the most common risk mitigation strategies against potential future losses were diversification and a “three lines of defense” approach
- Top political risk concerns for 2025 included U.S. policy uncertainty (especially tariffs) and tensions between the U.S. and its allies.
- Other major risks included restricted access to key markets due to geopolitical tensions and the threat of state-backed cyber and disinformation attacks.
The research includes a survey of 66 companies and in-depth, anonymized interviews with 15 companies.

“In the eight years since we began this research, companies’ political risk concerns have changed almost unrecognizably,” said Sam Wilkin, Director of Political Risk Analytics at Willis. “In 2018, political risk was mostly a worry for highly exposed sectors investing in risky countries like Venezuela. Today, political risk concerns apply across sectors, involve a much higher level of potential loss, and are focused on United States policy.”

The complete report can be downloaded here.

About WTW

At WTW (NASDAQ: WTW), we provide data-driven, insight-led solutions in the areas of people, risk and capital. Leveraging the global view and local expertise of our colleagues serving 140 countries and markets, we help organizations sharpen their strategy, enhance organizational resilience, motivate their workforce and maximize performance.

Working shoulder to shoulder with our clients, we uncover opportunities for sustainable success—and provide perspective that moves you. Learn more at wtwco.com.

Media Contacts

Sarah Booker
Sarah.booker@wtwco.com / +44 (0)7917 722040

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May 1, 2025

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Prime Minister Shri Narendra Modi inaugurates WAVES 2025WAVES highlights India’s creative strengths on a global platform: PM

Prime Minister Shri Narendra Modi inaugurates WAVES 2025

WAVES highlights India’s creative strengths on a global platform: PM