Category: Technology

MIL-OSI: Progress Software Announces Second Quarter 2025 Financial Results

Source: GlobeNewswire (MIL-OSI)

Annualized Recurring Revenue (“ARR”) of $838 million Grew 46% year-over-year
Revenue of $237 million Grew 36% year-over-year
Raises Full Year Guidance for Revenue, Operating Margin, Earnings Per Share, and Cash Flow
Acquires Agentic RAG AI Company

BURLINGTON, Mass., June 30, 2025 (GLOBE NEWSWIRE) — Progress Software (Nasdaq: PRGS), the trusted provider of AI-powered digital experience and infrastructure software, today announced financial results for its fiscal second quarter ended May 31, 2025.

Second Quarter 2025 Highlights:

Revenue of $237 million increased 36% year-over-year on an actual currency basis and 35% on a constant currency basis.
Annualized Recurring Revenue (“ARR”) of $838 million increased 46% year-over-year on a constant currency basis.
Operating margin was 16% and non-GAAP operating margin was 40%.
Diluted earnings per share was $0.39 compared to $0.37 in the same quarter last year, an increase of 5%.
Non-GAAP diluted earnings per share was $1.40 compared to $1.09 in the same quarter last year, an increase of 28%.

“We’re extremely pleased with our solid Q2 results” said Yogesh Gupta, CEO of Progress Software. “Revenue contributions were strong across all geographies resulting in ARR of $838 million or 46% year-over-year growth. Our Net Retention Rate was 100%, demonstrating the consistent strength of our product portfolio. Our confidence in the business is reflected in our raised guidance for FY25. Equally important, our integration of ShareFile is going extremely well as we have completed numerous major synergy milestones, and we remain confident in our ability to reach all our ShareFile targets by the end of the year.”

Additional financial highlights included:

	Three Months Ended
	GAAP								Non-GAAP
(in thousands, except percentages and per share amounts)	May 31, 2025			May 31, 2024			% Change		May 31, 2025			May 31, 2024			% Change
Revenue	$	237,355		$	175,077		36	%	$	237,355		$	175,077		36	%
Income from operations	$	38,616		$	27,148		42	%	$	95,461		$	67,086		42	%
Operating margin		16	%		16	%	0 bps			40	%		38	%	200 bps
Net income	$	17,029		$	16,188		5	%	$	61,749		$	47,899		29	%
Diluted earnings per share	$	0.39		$	0.37		5	%	$	1.40		$	1.09		28	%
Cash from operations (GAAP) / Adjusted free cash flow (non-GAAP) / Unlevered free cash flow (non-GAAP)	$	29,996		$	63,681		(53	)%	$	37,068		$	64,073		(42	)%
	$	29,996		$	63,681				$	51,579		$	69,679		(26	)%

See Important Information Regarding Non-GAAP Financial Measures, Liquidity Measures, and Select Performance Metrics and a reconciliation of non-GAAP adjustments to Progress’ GAAP financial results at the end of this press release.

Other fiscal second quarter 2025 metrics and recent results included:

Cash and cash equivalents were $102.0 million at the end of the quarter.
Days sales outstanding was 53 days compared to 41 days in the fiscal second quarter of 2024 and 48 days in the fiscal first quarter of 2025.

“Our second quarter performance reflects the continued strong execution by our teams and this is further reflected in our increase to full year guidance across the board,” said Anthony Folger, CFO of Progress Software. “Our ShareFile business is progressing well and we are ahead of schedule with the integration and moving swiftly towards reaching our synergy targets. On the balance sheet, we again made significant progress on paying down our revolving credit facility, with another $40 million this quarter, putting us on a solid trajectory to hit our goal of $160 million debt paydown this year.”

Acquisition of Nuclia

In a separate press release, the Company also announced today its acquisition of Nuclia, an innovator in agentic Retrieval-Augmented Generation (“RAG”) AI solutions. Nuclia provides unique, easy-to-use agentic RAG-as-a-service technology enabling organizations to automatically leverage their own proprietary business information to retrieve verifiable, accurate answers using GenAI. Nuclia will extend the end-to-end value of the Progress Data Platform while creating new opportunities to reach a broader market of organizations looking to leverage agentic RAG technology.

The acquisition was signed and closed today and is immaterial to Progress’ financials.

To learn more about Nuclia, go to https://nuclia.com/.

2025 Business Outlook

Progress provides the following guidance for the fiscal year ending November 30, 2025 and the fiscal third quarter ending August 31, 2025:

	Updated FY 2025 Guidance (June 30, 2025)		Prior FY 2025 Guidance (March 31, 2025)
(in millions, except percentages and per share amounts)	GAAP	Non-GAAP	GAAP	Non-GAAP
Revenue	$962 – $974	$962 – $974	$958 – $970	$958 – $970
Diluted earnings per share	$1.27 – $1.43	$5.28 – $5.40	$1.19 – $1.35	$5.25 – $5.37
Operating margin	15%	38% – 39%	14% – 15%	38%
Cash from operations (GAAP) / Adjusted free cash flow (non-GAAP) / Unlevered free cash flow (non-GAAP)	$218 – $230	$228 – $240	$216 – $228	$226 – $238
		$285 – $296		$283 – $294
Effective tax rate	17%	20%	19%	20%

	Q3 2025 Guidance
(in millions, except per share amounts)	GAAP	Non-GAAP
Revenue	$237 – $243	$237 – $243
Diluted earnings per share	$0.29 – $0.35	$1.28 – $1.34

Based on current exchange rates, the expected positive currency translation impact on our:

Fiscal year 2025 business outlook compared to 2024 exchange rates is approximately $2.4 million on revenue.
GAAP and non-GAAP diluted earnings per share for fiscal year 2025 is approximately $0.02.
Fiscal Q3 2025 business outlook compared to 2024 exchange rates is approximately $1.7 million on revenue.
GAAP and non-GAAP diluted earnings per share for fiscal Q3 2025 is approximately $0.01.

To the extent that there are changes in exchange rates versus the current environment and/or our expectations, this may have an impact on Progress’ business outlook.

Conference Call

Progress will hold a conference call to review its financial results for the fiscal second quarter of 2025 at 5:00 p.m. ET on Monday, June 30, 2025. Participants must register for the conference call here: https://register-conf.media-server.com/register/BIc386d20e6fbd46acbadafca492a42b35. The webcast can be accessed at: https://edge.media-server.com/mmc/p/bujcypbf/. The conference call will include comments followed by questions and answers. Attendees must register for the webcast and an archived version of the conference call and supporting materials will be available on the Progress website within the investor relations section after the live conference call.

About Progress

Progress Software (Nasdaq: PRGS) empowers organizations to achieve transformational success in the face of disruptive change. Our software enables our customers to develop, deploy and manage responsible AI-powered applications and digital experiences with agility and ease. Customers get a trusted provider in Progress, with the products, expertise and vision they need to succeed. Over 4 million developers and technologists at hundreds of thousands of enterprises depend on Progress. Learn more at www.progress.com.

Progress and Progress Software are trademarks or registered trademarks of Progress Software Corporation and/or its subsidiaries or affiliates in the U.S. and other countries. Any other names contained herein may be trademarks of their respective owners.

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
(Unaudited)

	Three Months Ended								Six Months Ended
(in thousands, except per share data)	May 31, 2025			May 31, 2024			% Change		May 31, 2025			May 31, 2024			% Change
Revenue:
Software licenses	$	50,795		$	53,979		(6	)%	$	109,240		$	118,079		(7	)%
Maintenance, SaaS, and professional services		186,560			121,098		54	%		366,130			241,683		51	%
Total revenue		237,355			175,077		36	%		475,370			359,762		32	%
Costs of revenue:
Cost of software licenses		2,987			2,497		20	%		5,912			5,228		13	%
Cost of maintenance, SaaS, and professional services		33,764			22,176		52	%		66,648			44,395		50	%
Amortization of acquired intangibles		10,537			7,398		42	%		20,959			15,257		37	%
Total costs of revenue		47,288			32,071		47	%		93,519			64,880		44	%
Gross profit		190,067			143,006		33	%		381,851			294,882		29	%
Operating expenses:
Sales and marketing		49,677			37,889		31	%		100,973			77,000		31	%
Product development		46,570			35,435		31	%		92,945			70,423		32	%
General and administrative		25,637			21,983		17	%		51,260			43,327		18	%
Amortization of acquired intangibles		26,063			16,316		60	%		51,871			33,705		54	%
Cyber vulnerability response expenses, net		730			3,036		(76	)%		1,467			4,023		(64	)%
Restructuring expenses		1,043			651		60	%		8,072			3,000		169	%
Acquisition-related expenses		1,731			548		216	%		4,221			1,250		238	%
Total operating expenses		151,451			115,858		31	%		310,809			232,728		34	%
Income from operations		38,616			27,148		42	%		71,042			62,154		14	%
Other expense, net		(18,752	)		(7,020	)	167	%		(37,876	)		(14,419	)	163	%
Income before income taxes		19,864			20,128		(1	)%		33,166			47,735		(31	)%
Provision for income taxes		2,835			3,940		(28	)%		5,191			8,908		(42	)%
Net income	$	17,029		$	16,188		5	%	$	27,975		$	38,827		(28	)%

Earnings per share:
Basic	$	0.40		$	0.37		8	%	$	0.65		$	0.89		(27	)%
Diluted	$	0.39		$	0.37		5	%	$	0.63		$	0.87		(28	)%
Weighted average shares outstanding:
Basic		43,053			43,213		—	%		43,154			43,508		(1	)%
Diluted		44,156			43,964		—	%		44,522			44,395		—	%

Cash dividends declared per common share	$	—		$	0.175		(100	)%	$	—		$	0.350		(100	)%

^{Stock-based compensation is included in the condensed consolidated statements of operations, as follows:}

^{Cost of revenue}

^1,560

⁹¹²

⁷¹

^2,755

^1,898

⁴⁵

^{Sales and marketing}

^3,663

^2,458

⁴⁹

^6,695

^4,770

⁴⁰

^{Product development}

^4,984

^3,391

⁴⁷

^9,394

^7,056

³³

^{General and administrative}

^6,534

^5,228

²⁵

^12,580

^10,729

¹⁷

^Total

^16,741

^11,989

⁴⁰

^31,424

^24,453

²⁹

CONDENSED CONSOLIDATED BALANCE SHEETS
(Unaudited)

(in thousands)	May 31, 2025		November 30, 2024
Assets
Current assets:
Cash and cash equivalents	$	102,006	$	118,077
Accounts receivable, net		140,122		163,575
Unbilled receivables, current portion		34,136		34,672
Other current assets		49,387		52,489
Total current assets		325,651		368,813
Property and equipment, net		12,474		13,746
Goodwill and intangible assets, net		1,944,387		2,015,748
Right-of-use lease assets		27,351		30,894
Unbilled receivables, non-current portion		29,890		28,893
Other assets		73,839		68,872
Total assets	$	2,413,592	$	2,526,966
Liabilities and shareholders’ equity
Current liabilities:
Accounts payable and other current liabilities	$	75,610	$	113,801
Convertible senior notes, current portion, net		358,051		—
Operating lease liabilities, current portion		8,250		9,202
Deferred revenue, current portion, net		308,360		332,142
Total current liabilities		750,271		455,145
Long-term debt, net		660,000		730,000
Convertible senior notes, non-current portion, net		440,244		796,267
Operating lease liabilities, non-current portion		22,548		26,259
Deferred revenue, non-current portion, net		80,219		72,270
Other non-current liabilities		7,609		8,237
Stockholders’ equity:
Common stock and additional paid-in capital		362,522		354,592
Retained earnings		90,179		84,196
Total stockholders’ equity		452,701		438,788
Total liabilities and stockholders’ equity	$	2,413,592	$	2,526,966

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS
(Unaudited)

	Three Months Ended						Six Months Ended
(in thousands)	May 31, 2025			May 31, 2024			May 31, 2025			May 31, 2024
Cash flows from operating activities:
Net income	$	17,029		$	16,188		$	27,975		$	38,827
Depreciation and amortization		39,568			27,529			78,777			55,073
Stock-based compensation		16,741			11,989			31,424			24,453
Other non-cash adjustments		(1,332	)		(812	)		1,738			515
Changes in operating assets and liabilities		(42,010	)		8,787			(40,971	)		15,317
Net cash flows from operating activities		29,996			63,681			98,943			134,185
Capital expenditures		(495	)		(955	)		(1,785	)		(1,264	)
Repurchases of common stock, net of issuances		(13,478	)		(44,636	)		(37,348	)		(59,553	)
Dividend equivalent and dividend payments to stockholders		(295	)		(7,951	)		(654	)		(16,122	)
Payments for acquisitions		—			—			(1,195	)		—
Proceeds from the issuance of debt, net of payment of issuance costs		—			431,929			—			431,929
Repayment of revolving line of credit and principal payment on term loan		(40,000	)		(337,813	)		(70,000	)		(371,250	)
Purchase of capped calls		—			(42,210	)		—			(42,210	)
Other		2,117			(4,847	)		(4,032	)		(12,253	)
Net change in cash and cash equivalents		(22,155	)		57,198			(16,071	)		63,462
Cash and cash equivalents, beginning of period		124,161			133,222			118,077			126,958
Cash and cash equivalents, end of period	$	102,006		$	190,420		$	102,006		$	190,420

RECONCILIATIONS OF GAAP TO NON-GAAP SELECTED FINANCIAL MEASURES
(Unaudited)

	Three Months Ended						Six Months Ended
(in thousands, except per share data)	May 31, 2025			May 31, 2024			May 31, 2025			May 31, 2024
Adjusted income from operations:
GAAP income from operations	$	38,616		$	27,148		$	71,042		$	62,154
Amortization of acquired intangibles		36,600			23,714			72,830			48,962
Stock-based compensation		16,741			11,989			31,424			24,453
Restructuring expenses		1,043			651			8,072			3,000
Acquisition-related expenses		1,731			548			4,221			1,250
Cyber vulnerability response expenses, net		730			3,036			1,467			4,023
Non-GAAP income from operations	$	95,461		$	67,086		$	189,056		$	143,842

Adjusted net income:
GAAP net income	$	17,029		$	16,188		$	27,975		$	38,827
Amortization of acquired intangibles		36,600			23,714			72,830			48,962
Stock-based compensation		16,741			11,989			31,424			24,453
Restructuring expenses		1,043			651			8,072			3,000
Acquisition-related expenses		1,731			548			4,221			1,250
Cyber vulnerability response expenses, net		730			3,036			1,467			4,023
Provision for income taxes		(12,125	)		(8,227	)		(25,245	)		(16,688	)
Non-GAAP net income	$	61,749		$	47,899		$	120,744		$	103,827

Adjusted diluted earnings per share:
GAAP diluted earnings per share	$	0.39		$	0.37		$	0.63		$	0.87
Amortization of acquired intangibles		0.83			0.54			1.64			1.10
Stock-based compensation		0.37			0.27			0.71			0.56
Restructuring expenses		0.02			0.02			0.18			0.07
Acquisition-related expenses		0.04			0.01			0.09			0.03
Cyber vulnerability response expenses, net		0.02			0.07			0.03			0.09
Provision for income taxes		(0.27	)		(0.19	)		(0.57	)		(0.38	)
Non-GAAP diluted earnings per share	$	1.40		$	1.09		$	2.71		$	2.34

Non-GAAP weighted avg shares outstanding – diluted		44,156			43,964			44,522			44,395

OTHER NON-GAAP FINANCIAL MEASURES
(Unaudited)

Adjusted Free Cash Flow and Unlevered Free Cash Flow

	Three Months Ended								Six Months Ended
(in thousands)	May 31, 2025			May 31, 2024			% Change		May 31, 2025			May 31, 2024			% Change
Cash flows from operations	$	29,996		$	63,681		(53	)%	$	98,943		$	134,185		(26	)%
Purchases of property and equipment		(495	)		(955	)	(48	)%		(1,785	)		(1,264	)	41	%
Free cash flow		29,501			62,726		(53	)%		97,158			132,921		(27	)%
Add back: restructuring payments		7,567			1,347		462	%		13,121			3,356		291	%
Adjusted free cash flow	$	37,068		$	64,073		(42	)%	$	110,279		$	136,277		(19	)%
Add back: tax-effected interest expense		14,511			5,606		159	%		29,253			11,481		155	%
Unlevered free cash flow	$	51,579		$	69,679		(26	)%	$	139,532		$	147,758		(6	)%

RECONCILIATIONS OF GAAP TO NON-GAAP FINANCIAL MEASURES FOR FISCAL YEAR 2025 GUIDANCE
(Unaudited)

Fiscal Year 2025 Updated Non-GAAP Operating Margin Guidance
	Fiscal Year Ending November 30, 2025
(in millions)	Low			High
GAAP income from operations	$	140.7		$	149.2
GAAP operating margins		15	%		15	%
Acquisition-related expense		6.0			6.0
Restructuring expense		9.2			9.2
Stock-based compensation		63.0			63.0
Amortization of acquired intangibles		145.7			145.7
Cyber vulnerability response expenses, net		4.2			4.2
Total adjustments⁽¹⁾		228.1			228.1
Non-GAAP income from operations	$	368.8		$	377.3
Non-GAAP operating margin		38	%		39	%
⁽¹⁾Total adjustments include preliminary estimates relating to the valuation of intangible assets acquired from ShareFile and restructuring expenses. The final amounts will not be available until the Company’s internal procedures and reviews are completed.

Fiscal Year 2025 Updated Non-GAAP Earnings per Share and Effective Tax Rate Guidance
	Fiscal Year Ending November 30, 2025
(in millions, except per share data)	Low			High
GAAP net income	$	56.9		$	64.8
Adjustments (from previous table)		228.1			228.1
Income tax adjustment⁽²⁾		(47.7	)		(48.0	)
Non-GAAP net income	$	237.3		$	244.9

GAAP diluted earnings per share	$	1.27		$	1.43
Non-GAAP diluted earnings per share	$	5.28		$	5.40

Diluted weighted average shares outstanding		45.0			45.4



_{² Tax adjustment is based on a non-GAAP effective tax rate of approximately 20%, calculated as follows:}
	_{Fiscal Year Ending November 30, 2025}
	_Low			_High
_{Non-GAAP income from operations}	_$	_368.8		_$	_377.3
_{Other (expense) income}		_(72.2	₎		_(71.2	₎
_{Non-GAAP income from continuing operations before income taxes}		_296.6			_306.1
_{Non-GAAP net income}		_237.3			_244.9
_{Tax provision}	_$	_59.3		_$	_61.2
_{Non-GAAP tax rate}		₂₀	_%		₂₀	_%

RECONCILIATIONS OF GAAP TO NON-GAAP FINANCIAL MEASURES FOR FISCAL YEAR 2025 GUIDANCE
(Unaudited)

Fiscal Year 2025 Adjusted Free Cash Flow and Unlevered Free Cash Flow Guidance
	Fiscal Year Ending November 30, 2025
(in millions)	Low			High
Cash flows from operations (GAAP)	$	218		$	230
Purchases of property and equipment		(7	)		(7	)
Add back: restructuring payments		17			17
Adjusted free cash flow (non-GAAP)		228			240
Add back: tax-effected interest expense		57			56
Unlevered free cash flow (non-GAAP)	$	285		$	296

RECONCILIATIONS OF GAAP TO NON-GAAP FINANCIAL MEASURES FOR Q3 2025 GUIDANCE
(Unaudited)

Q3 2025 Non-GAAP Earnings per Share Guidance
	Three Months Ending August 31, 2025
	Low			High
GAAP diluted earnings per share	$	0.29		$	0.35
Acquisition-related expense		0.02			0.02
Restructuring expense		0.01			0.01
Stock-based compensation		0.35			0.35
Amortization of acquired intangibles		0.83			0.83
Cyber vulnerability response expenses, net		0.03			0.03
Total adjustments⁽¹⁾		1.24			1.24
Income tax adjustment		(0.25	)		(0.25	)
Non-GAAP diluted earnings per share	$	1.28		$	1.34
⁽¹⁾Total adjustments include preliminary estimates relating to the valuation of intangible assets acquired from ShareFile and restructuring expenses. The final amounts will not be available until the Company’s internal procedures and reviews are completed.

Important Information Regarding Non-GAAP Financial Measures, Liquidity Measures and Select Performance Metrics

Progress furnishes certain non-GAAP supplemental information to our financial results. We use such non-GAAP financial measures to evaluate our period-over-period operating performance because our management team believes that excluding the effects of certain GAAP-related items helps to illustrate underlying trends in our business and provides us with a more comparable measure of our continuing business, as well as greater understanding of the results from the primary operations of our business. Management also uses such non-GAAP financial measures to establish budgets and operational goals, evaluate performance, and allocate resources. In addition, the compensation of our executives and non-executive employees is based in part on the performance of our business as evaluated by such non-GAAP financial measures. We believe these non-GAAP financial measures enhance investors’ overall understanding of our current financial performance and our prospects for the future by: (i) providing more transparency for certain financial measures, (ii) presenting disclosure that helps investors understand how we plan and measure the performance of our business, (iii) affording a view of our operating results that may be more easily compared to our peer companies, and (iv) enabling investors to consider our operating results on both a GAAP and non-GAAP basis (including following the integration period of our prior acquisitions). However, this non-GAAP information is not in accordance with, or an alternative to, generally accepted accounting principles in the United States (“GAAP”) and should be considered in conjunction with our GAAP results as the items excluded from the non-GAAP information may have a material impact on Progress’ financial results. A reconciliation of non-GAAP adjustments to Progress’ GAAP financial results is included in the tables above.

In the noted fiscal periods, we adjusted for the following items from our GAAP financial results to arrive at our non-GAAP financial measures:

Amortization of acquired intangibles – We exclude amortization of acquired intangibles because those expenses are unrelated to our core operating performance and the intangible assets acquired vary significantly based on the timing and magnitude of our acquisition transactions and the maturities of the businesses acquired. Adjustments include preliminary estimates relating to the valuation of intangible assets from ShareFile. The final amounts will not be available until the Company’s internal procedures and reviews are completed.
Stock-based compensation – We exclude stock-based compensation to be consistent with the way management and, in our view, the overall financial community evaluates our performance and the methods used by analysts to calculate consensus estimates. The expense related to stock-based awards is generally not controllable in the short-term and can vary significantly based on the timing, size and nature of awards granted. As such, we do not include these charges in operating plans.
Restructuring expenses – In all periods presented, we exclude restructuring expenses incurred because those expenses distort trends and are not part of our core operating results. Adjustments include preliminary estimates relating to restructuring expenses from ShareFile. The final amounts will not be available until the Company’s internal procedures and reviews are completed.
Acquisition-related expenses – We exclude acquisition-related expenses in order to provide a more meaningful comparison of the financial results to our historical operations and forward-looking guidance and the financial results of less acquisitive peer companies. We consider these types of costs and adjustments, to a great extent, to be unpredictable and dependent on a significant number of factors that are outside of our control. Furthermore, we do not consider these acquisition-related costs and adjustments to be related to the organic continuing operations of the acquired businesses and are generally not relevant to assessing or estimating the long-term performance of the acquired assets. In addition, the size, complexity and/or volume of past acquisitions, which often drives the magnitude of acquisition-related costs, may not be indicative of the size, complexity and/or volume of future acquisitions.
Cyber vulnerability response expenses, net – We exclude certain expenses resulting from the zero-day MOVEit Vulnerability, as more thoroughly described in our filings with the Securities and Exchange Commission since June 5, 2023. Expenses include costs to investigate and remediate these cyber related matters, as well as legal and other professional services related thereto. Expenses related to such cyber matters are provided net of expected insurance recoveries, although the timing of recognizing insurance recoveries may differ from the timing of recognizing the associated expenses. Costs associated with the enhancement of our cybersecurity program are not included within this adjustment. We expect to continue to incur legal and other professional services expenses in future periods associated with the MOVEit Vulnerability. Expenses related to such cyber matters are expected to result in operating expenses that would not have otherwise been incurred in the normal course of business operations. We believe that excluding these costs facilitates a more meaningful evaluation of our operating performance and comparisons to our past operating performance.
Provision for income taxes – We adjust our income tax provision by excluding the tax impact of the non-GAAP adjustments discussed above.
Constant currency – Revenue from our international operations has historically represented a substantial portion of our total revenue. As a result, our revenue results have been impacted, and we expect will continue to be impacted, by fluctuations in foreign currency exchange rates. As exchange rates are an important factor in understanding period-to-period comparisons, we present revenue growth rates on a constant currency basis, which helps improve the understanding of our revenue results and our performance in comparison to prior periods. The constant currency information presented is calculated by translating current period results using prior period weighted average foreign currency exchange rates.

In the noted fiscal periods, we also present the following liquidity measures:

Adjusted free cash flow (“AFCF”) and unlevered free cash flow (“Unlevered FCF”) – AFCF is equal to cash flows from operating activities less purchases of property and equipment, plus restructuring payments. Unlevered FCF is AFCF plus tax-effected interest expense on outstanding debt.

In the noted fiscal periods, we also present the following select performance metrics:

Annualized Recurring Revenue (“ARR”) – We disclose ARR as a performance metric to help investors better understand and assess the performance of our business because our mix of revenue generated from recurring sources currently represents the substantial majority of our revenues and is expected to continue in the future. We define ARR as the annualized revenue of all active and contractually binding term-based contracts from all customers at a point in time. ARR includes revenue from maintenance, software upgrade rights, public cloud, and on-premises subscription-based transactions and managed services. ARR mitigates fluctuations in revenue due to seasonality, contract term and the sales mix of subscriptions for term-based licenses and SaaS. We use ARR to understand customer trends and the overall health of our business, helping us to formulate strategic business decisions.
We calculate the annualized value of annual and multi-year contracts, and contracts with terms less than one year, by dividing the total contract value of each contract by the number of months in the term and then multiplying by 12. Annualizing contracts with terms less than one-year results in amounts being included in our ARR that are in excess of the total contract value for those contracts at the end of the reporting period. We generally do not sell non-SaaS-based contracts with a term of less than one year unless a customer is purchasing additional licenses under an existing annual or multi-year contract. The expectation is that at the time of renewal, such contracts with a term less than one year will renew with the same term as the existing contracts being renewed, such that both contracts are co-termed. Historically, such contracts with a term of less than one year renew at rates equal to or better than annual or multi-year contracts.

For SaaS-based contracts, there is a meaningful percentage of monthly auto-renewing contracts for which annualizing the contracts results in amounts being included in our ARR that are in excess of the total contract value for those contracts at the end of the reporting period.

Revenue from term-based license and on-premises subscription arrangements include a portion of the arrangement consideration that is allocated to the software license that is recognized up-front at the point in time control is transferred under ASC 606 revenue recognition principles. ARR for these arrangements is calculated as described above. The expectation is that the total contract value, inclusive of revenue recognized as software license, will be renewed at the end of the contract term.

The calculation is done at constant currency using the current year budgeted exchange rates for all periods presented.

ARR is not defined in GAAP and is not derived from a GAAP measure. Rather, ARR generally aligns to billings (as opposed to GAAP revenue which aligns to the transfer of control of each performance obligation). ARR does not have any standardized meaning and is therefore unlikely to be comparable to similarly titled measures presented by other companies. ARR should be viewed independently of revenue and deferred revenue and is not intended to be combined with or to replace either of those items. ARR is not a forecast and the active contracts at the end of a reporting period used in calculating ARR may or may not be extended or renewed by our customers.

Net Retention Rate (“NRR”) – We calculate net retention rate as of a period end by starting with the ARR from the cohort of all customers as of 12 months prior to such period end (“Prior Period ARR”). We then calculate the ARR from these same customers as of the current period end (“Current Period ARR”). Current Period ARR includes any expansion and is net of contraction or attrition over the last 12 months but excludes ARR from new customers in the current period. We then divide the total Current Period ARR by the total Prior Period ARR to arrive at the net retention rate. Net retention rate is not calculated in accordance with GAAP and is not derived from a GAAP measure.

Note Regarding Forward-Looking Statements

This press release contains statements that 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. Progress has identified some of these forward-looking statements with words like “believe,” “may,” “could,” “would,” “might,” “should,” “expect,” “intend,” “plan,” “target,” “anticipate” and “continue,” the negative of these words, other terms of similar meaning or the use of future dates. Forward-looking statements in this press release include, but are not limited to, statements regarding Progress’ business outlook (including future acquisition activity) and financial guidance. There are a number of factors that could cause actual results or future events to differ materially from those anticipated by the forward-looking statements, including, without limitation: (i) economic, geopolitical and market conditions can adversely affect our business, results of operations and financial condition, including our revenue growth and profitability, which in turn could adversely affect our stock price; (ii) our international sales and operations subject us to additional risks that can adversely affect our operating results, including risks relating to foreign currency gains and losses; (iii) we may fail to achieve our financial forecasts due to such factors as delays or size reductions in transactions, fewer large transactions in a particular quarter, fluctuations in currency exchange rates, or a decline in our renewal rates for contracts; (iv) if the security measures for our software, services, other offerings or our internal information technology infrastructure are compromised or subject to a successful cyber-attack, or if our software offerings contain significant coding or configuration errors or zero-day vulnerabilities, we may experience reputational harm, legal claims and financial exposure; and the results of inquiries, investigations and legal claims regarding the MOVEit Vulnerability remain uncertain, while the ultimate resolution of these matters could result in losses that may be material to our financial results for a particular period; (v) future acquisitions may not be successful or may involve unanticipated costs or other integration issues that could disrupt our existing operations; and (vi) expected synergies and benefits of the ShareFile acquisition may not be realized which could negatively impact our future results of operations and financial condition. For further information regarding risks and uncertainties associated with Progress’ business, please refer to our filings with the Securities and Exchange Commission, including our Annual Report on Form 10-K for the fiscal year ended November 30, 2024. Progress undertakes no obligation to update any forward-looking statements, which speak only as of the date of this press release.

The MIL Network –

July 1, 2025

MIL-OSI: Progress Software Announces Second Quarter 2025 Financial Results

Source: GlobeNewswire (MIL-OSI)

Second Quarter 2025 Highlights:

Revenue of $237 million increased 36% year-over-year on an actual currency basis and 35% on a constant currency basis.
Annualized Recurring Revenue (“ARR”) of $838 million increased 46% year-over-year on a constant currency basis.
Operating margin was 16% and non-GAAP operating margin was 40%.
Diluted earnings per share was $0.39 compared to $0.37 in the same quarter last year, an increase of 5%.
Non-GAAP diluted earnings per share was $1.40 compared to $1.09 in the same quarter last year, an increase of 28%.

Additional financial highlights included:

	Three Months Ended
	GAAP								Non-GAAP
(in thousands, except percentages and per share amounts)	May 31, 2025			May 31, 2024			% Change		May 31, 2025			May 31, 2024			% Change
Revenue	$	237,355		$	175,077		36	%	$	237,355		$	175,077		36	%
Income from operations	$	38,616		$	27,148		42	%	$	95,461		$	67,086		42	%
Operating margin		16	%		16	%	0 bps			40	%		38	%	200 bps
Net income	$	17,029		$	16,188		5	%	$	61,749		$	47,899		29	%
Diluted earnings per share	$	0.39		$	0.37		5	%	$	1.40		$	1.09		28	%
Cash from operations (GAAP) / Adjusted free cash flow (non-GAAP) / Unlevered free cash flow (non-GAAP)	$	29,996		$	63,681		(53	)%	$	37,068		$	64,073		(42	)%
	$	29,996		$	63,681				$	51,579		$	69,679		(26	)%

Other fiscal second quarter 2025 metrics and recent results included:

Cash and cash equivalents were $102.0 million at the end of the quarter.
Days sales outstanding was 53 days compared to 41 days in the fiscal second quarter of 2024 and 48 days in the fiscal first quarter of 2025.

Acquisition of Nuclia

The acquisition was signed and closed today and is immaterial to Progress’ financials.

To learn more about Nuclia, go to https://nuclia.com/.

2025 Business Outlook

Progress provides the following guidance for the fiscal year ending November 30, 2025 and the fiscal third quarter ending August 31, 2025:

	Updated FY 2025 Guidance (June 30, 2025)		Prior FY 2025 Guidance (March 31, 2025)
(in millions, except percentages and per share amounts)	GAAP	Non-GAAP	GAAP	Non-GAAP
Revenue	$962 – $974	$962 – $974	$958 – $970	$958 – $970
Diluted earnings per share	$1.27 – $1.43	$5.28 – $5.40	$1.19 – $1.35	$5.25 – $5.37
Operating margin	15%	38% – 39%	14% – 15%	38%
Cash from operations (GAAP) / Adjusted free cash flow (non-GAAP) / Unlevered free cash flow (non-GAAP)	$218 – $230	$228 – $240	$216 – $228	$226 – $238
		$285 – $296		$283 – $294
Effective tax rate	17%	20%	19%	20%

	Q3 2025 Guidance
(in millions, except per share amounts)	GAAP	Non-GAAP
Revenue	$237 – $243	$237 – $243
Diluted earnings per share	$0.29 – $0.35	$1.28 – $1.34

Based on current exchange rates, the expected positive currency translation impact on our:

Fiscal year 2025 business outlook compared to 2024 exchange rates is approximately $2.4 million on revenue.
GAAP and non-GAAP diluted earnings per share for fiscal year 2025 is approximately $0.02.
Fiscal Q3 2025 business outlook compared to 2024 exchange rates is approximately $1.7 million on revenue.
GAAP and non-GAAP diluted earnings per share for fiscal Q3 2025 is approximately $0.01.

To the extent that there are changes in exchange rates versus the current environment and/or our expectations, this may have an impact on Progress’ business outlook.

Conference Call

About Progress

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
(Unaudited)

	Three Months Ended								Six Months Ended
(in thousands, except per share data)	May 31, 2025			May 31, 2024			% Change		May 31, 2025			May 31, 2024			% Change
Revenue:
Software licenses	$	50,795		$	53,979		(6	)%	$	109,240		$	118,079		(7	)%
Maintenance, SaaS, and professional services		186,560			121,098		54	%		366,130			241,683		51	%
Total revenue		237,355			175,077		36	%		475,370			359,762		32	%
Costs of revenue:
Cost of software licenses		2,987			2,497		20	%		5,912			5,228		13	%
Cost of maintenance, SaaS, and professional services		33,764			22,176		52	%		66,648			44,395		50	%
Amortization of acquired intangibles		10,537			7,398		42	%		20,959			15,257		37	%
Total costs of revenue		47,288			32,071		47	%		93,519			64,880		44	%
Gross profit		190,067			143,006		33	%		381,851			294,882		29	%
Operating expenses:
Sales and marketing		49,677			37,889		31	%		100,973			77,000		31	%
Product development		46,570			35,435		31	%		92,945			70,423		32	%
General and administrative		25,637			21,983		17	%		51,260			43,327		18	%
Amortization of acquired intangibles		26,063			16,316		60	%		51,871			33,705		54	%
Cyber vulnerability response expenses, net		730			3,036		(76	)%		1,467			4,023		(64	)%
Restructuring expenses		1,043			651		60	%		8,072			3,000		169	%
Acquisition-related expenses		1,731			548		216	%		4,221			1,250		238	%
Total operating expenses		151,451			115,858		31	%		310,809			232,728		34	%
Income from operations		38,616			27,148		42	%		71,042			62,154		14	%
Other expense, net		(18,752	)		(7,020	)	167	%		(37,876	)		(14,419	)	163	%
Income before income taxes		19,864			20,128		(1	)%		33,166			47,735		(31	)%
Provision for income taxes		2,835			3,940		(28	)%		5,191			8,908		(42	)%
Net income	$	17,029		$	16,188		5	%	$	27,975		$	38,827		(28	)%

Earnings per share:
Basic	$	0.40		$	0.37		8	%	$	0.65		$	0.89		(27	)%
Diluted	$	0.39		$	0.37		5	%	$	0.63		$	0.87		(28	)%
Weighted average shares outstanding:
Basic		43,053			43,213		—	%		43,154			43,508		(1	)%
Diluted		44,156			43,964		—	%		44,522			44,395		—	%

Cash dividends declared per common share	$	—		$	0.175		(100	)%	$	—		$	0.350		(100	)%

^{Stock-based compensation is included in the condensed consolidated statements of operations, as follows:}

^{Cost of revenue}

^1,560

⁹¹²

⁷¹

^2,755

^1,898

⁴⁵

^{Sales and marketing}

^3,663

^2,458

⁴⁹

^6,695

^4,770

⁴⁰

^{Product development}

^4,984

^3,391

⁴⁷

^9,394

^7,056

³³

^{General and administrative}

^6,534

^5,228

²⁵

^12,580

^10,729

¹⁷

^Total

^16,741

^11,989

⁴⁰

^31,424

^24,453

²⁹

CONDENSED CONSOLIDATED BALANCE SHEETS
(Unaudited)

(in thousands)	May 31, 2025		November 30, 2024
Assets
Current assets:
Cash and cash equivalents	$	102,006	$	118,077
Accounts receivable, net		140,122		163,575
Unbilled receivables, current portion		34,136		34,672
Other current assets		49,387		52,489
Total current assets		325,651		368,813
Property and equipment, net		12,474		13,746
Goodwill and intangible assets, net		1,944,387		2,015,748
Right-of-use lease assets		27,351		30,894
Unbilled receivables, non-current portion		29,890		28,893
Other assets		73,839		68,872
Total assets	$	2,413,592	$	2,526,966
Liabilities and shareholders’ equity
Current liabilities:
Accounts payable and other current liabilities	$	75,610	$	113,801
Convertible senior notes, current portion, net		358,051		—
Operating lease liabilities, current portion		8,250		9,202
Deferred revenue, current portion, net		308,360		332,142
Total current liabilities		750,271		455,145
Long-term debt, net		660,000		730,000
Convertible senior notes, non-current portion, net		440,244		796,267
Operating lease liabilities, non-current portion		22,548		26,259
Deferred revenue, non-current portion, net		80,219		72,270
Other non-current liabilities		7,609		8,237
Stockholders’ equity:
Common stock and additional paid-in capital		362,522		354,592
Retained earnings		90,179		84,196
Total stockholders’ equity		452,701		438,788
Total liabilities and stockholders’ equity	$	2,413,592	$	2,526,966

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS
(Unaudited)

	Three Months Ended						Six Months Ended
(in thousands)	May 31, 2025			May 31, 2024			May 31, 2025			May 31, 2024
Cash flows from operating activities:
Net income	$	17,029		$	16,188		$	27,975		$	38,827
Depreciation and amortization		39,568			27,529			78,777			55,073
Stock-based compensation		16,741			11,989			31,424			24,453
Other non-cash adjustments		(1,332	)		(812	)		1,738			515
Changes in operating assets and liabilities		(42,010	)		8,787			(40,971	)		15,317
Net cash flows from operating activities		29,996			63,681			98,943			134,185
Capital expenditures		(495	)		(955	)		(1,785	)		(1,264	)
Repurchases of common stock, net of issuances		(13,478	)		(44,636	)		(37,348	)		(59,553	)
Dividend equivalent and dividend payments to stockholders		(295	)		(7,951	)		(654	)		(16,122	)
Payments for acquisitions		—			—			(1,195	)		—
Proceeds from the issuance of debt, net of payment of issuance costs		—			431,929			—			431,929
Repayment of revolving line of credit and principal payment on term loan		(40,000	)		(337,813	)		(70,000	)		(371,250	)
Purchase of capped calls		—			(42,210	)		—			(42,210	)
Other		2,117			(4,847	)		(4,032	)		(12,253	)
Net change in cash and cash equivalents		(22,155	)		57,198			(16,071	)		63,462
Cash and cash equivalents, beginning of period		124,161			133,222			118,077			126,958
Cash and cash equivalents, end of period	$	102,006		$	190,420		$	102,006		$	190,420

RECONCILIATIONS OF GAAP TO NON-GAAP SELECTED FINANCIAL MEASURES
(Unaudited)

	Three Months Ended						Six Months Ended
(in thousands, except per share data)	May 31, 2025			May 31, 2024			May 31, 2025			May 31, 2024
Adjusted income from operations:
GAAP income from operations	$	38,616		$	27,148		$	71,042		$	62,154
Amortization of acquired intangibles		36,600			23,714			72,830			48,962
Stock-based compensation		16,741			11,989			31,424			24,453
Restructuring expenses		1,043			651			8,072			3,000
Acquisition-related expenses		1,731			548			4,221			1,250
Cyber vulnerability response expenses, net		730			3,036			1,467			4,023
Non-GAAP income from operations	$	95,461		$	67,086		$	189,056		$	143,842

Adjusted net income:
GAAP net income	$	17,029		$	16,188		$	27,975		$	38,827
Amortization of acquired intangibles		36,600			23,714			72,830			48,962
Stock-based compensation		16,741			11,989			31,424			24,453
Restructuring expenses		1,043			651			8,072			3,000
Acquisition-related expenses		1,731			548			4,221			1,250
Cyber vulnerability response expenses, net		730			3,036			1,467			4,023
Provision for income taxes		(12,125	)		(8,227	)		(25,245	)		(16,688	)
Non-GAAP net income	$	61,749		$	47,899		$	120,744		$	103,827

Adjusted diluted earnings per share:
GAAP diluted earnings per share	$	0.39		$	0.37		$	0.63		$	0.87
Amortization of acquired intangibles		0.83			0.54			1.64			1.10
Stock-based compensation		0.37			0.27			0.71			0.56
Restructuring expenses		0.02			0.02			0.18			0.07
Acquisition-related expenses		0.04			0.01			0.09			0.03
Cyber vulnerability response expenses, net		0.02			0.07			0.03			0.09
Provision for income taxes		(0.27	)		(0.19	)		(0.57	)		(0.38	)
Non-GAAP diluted earnings per share	$	1.40		$	1.09		$	2.71		$	2.34

Non-GAAP weighted avg shares outstanding – diluted		44,156			43,964			44,522			44,395

OTHER NON-GAAP FINANCIAL MEASURES
(Unaudited)

Adjusted Free Cash Flow and Unlevered Free Cash Flow

	Three Months Ended								Six Months Ended
(in thousands)	May 31, 2025			May 31, 2024			% Change		May 31, 2025			May 31, 2024			% Change
Cash flows from operations	$	29,996		$	63,681		(53	)%	$	98,943		$	134,185		(26	)%
Purchases of property and equipment		(495	)		(955	)	(48	)%		(1,785	)		(1,264	)	41	%
Free cash flow		29,501			62,726		(53	)%		97,158			132,921		(27	)%
Add back: restructuring payments		7,567			1,347		462	%		13,121			3,356		291	%
Adjusted free cash flow	$	37,068		$	64,073		(42	)%	$	110,279		$	136,277		(19	)%
Add back: tax-effected interest expense		14,511			5,606		159	%		29,253			11,481		155	%
Unlevered free cash flow	$	51,579		$	69,679		(26	)%	$	139,532		$	147,758		(6	)%

RECONCILIATIONS OF GAAP TO NON-GAAP FINANCIAL MEASURES FOR FISCAL YEAR 2025 GUIDANCE
(Unaudited)

Fiscal Year 2025 Updated Non-GAAP Operating Margin Guidance
	Fiscal Year Ending November 30, 2025
(in millions)	Low			High
GAAP income from operations	$	140.7		$	149.2
GAAP operating margins		15	%		15	%
Acquisition-related expense		6.0			6.0
Restructuring expense		9.2			9.2
Stock-based compensation		63.0			63.0
Amortization of acquired intangibles		145.7			145.7
Cyber vulnerability response expenses, net		4.2			4.2
Total adjustments⁽¹⁾		228.1			228.1
Non-GAAP income from operations	$	368.8		$	377.3
Non-GAAP operating margin		38	%		39	%
⁽¹⁾Total adjustments include preliminary estimates relating to the valuation of intangible assets acquired from ShareFile and restructuring expenses. The final amounts will not be available until the Company’s internal procedures and reviews are completed.

Fiscal Year 2025 Updated Non-GAAP Earnings per Share and Effective Tax Rate Guidance
	Fiscal Year Ending November 30, 2025
(in millions, except per share data)	Low			High
GAAP net income	$	56.9		$	64.8
Adjustments (from previous table)		228.1			228.1
Income tax adjustment⁽²⁾		(47.7	)		(48.0	)
Non-GAAP net income	$	237.3		$	244.9

GAAP diluted earnings per share	$	1.27		$	1.43
Non-GAAP diluted earnings per share	$	5.28		$	5.40

Diluted weighted average shares outstanding		45.0			45.4



_{² Tax adjustment is based on a non-GAAP effective tax rate of approximately 20%, calculated as follows:}
	_{Fiscal Year Ending November 30, 2025}
	_Low			_High
_{Non-GAAP income from operations}	_$	_368.8		_$	_377.3
_{Other (expense) income}		_(72.2	₎		_(71.2	₎
_{Non-GAAP income from continuing operations before income taxes}		_296.6			_306.1
_{Non-GAAP net income}		_237.3			_244.9
_{Tax provision}	_$	_59.3		_$	_61.2
_{Non-GAAP tax rate}		₂₀	_%		₂₀	_%

RECONCILIATIONS OF GAAP TO NON-GAAP FINANCIAL MEASURES FOR FISCAL YEAR 2025 GUIDANCE
(Unaudited)

Fiscal Year 2025 Adjusted Free Cash Flow and Unlevered Free Cash Flow Guidance
	Fiscal Year Ending November 30, 2025
(in millions)	Low			High
Cash flows from operations (GAAP)	$	218		$	230
Purchases of property and equipment		(7	)		(7	)
Add back: restructuring payments		17			17
Adjusted free cash flow (non-GAAP)		228			240
Add back: tax-effected interest expense		57			56
Unlevered free cash flow (non-GAAP)	$	285		$	296

RECONCILIATIONS OF GAAP TO NON-GAAP FINANCIAL MEASURES FOR Q3 2025 GUIDANCE
(Unaudited)

Q3 2025 Non-GAAP Earnings per Share Guidance
	Three Months Ending August 31, 2025
	Low			High
GAAP diluted earnings per share	$	0.29		$	0.35
Acquisition-related expense		0.02			0.02
Restructuring expense		0.01			0.01
Stock-based compensation		0.35			0.35
Amortization of acquired intangibles		0.83			0.83
Cyber vulnerability response expenses, net		0.03			0.03
Total adjustments⁽¹⁾		1.24			1.24
Income tax adjustment		(0.25	)		(0.25	)
Non-GAAP diluted earnings per share	$	1.28		$	1.34
⁽¹⁾Total adjustments include preliminary estimates relating to the valuation of intangible assets acquired from ShareFile and restructuring expenses. The final amounts will not be available until the Company’s internal procedures and reviews are completed.

Important Information Regarding Non-GAAP Financial Measures, Liquidity Measures and Select Performance Metrics

In the noted fiscal periods, we adjusted for the following items from our GAAP financial results to arrive at our non-GAAP financial measures:

Amortization of acquired intangibles – We exclude amortization of acquired intangibles because those expenses are unrelated to our core operating performance and the intangible assets acquired vary significantly based on the timing and magnitude of our acquisition transactions and the maturities of the businesses acquired. Adjustments include preliminary estimates relating to the valuation of intangible assets from ShareFile. The final amounts will not be available until the Company’s internal procedures and reviews are completed.
Stock-based compensation – We exclude stock-based compensation to be consistent with the way management and, in our view, the overall financial community evaluates our performance and the methods used by analysts to calculate consensus estimates. The expense related to stock-based awards is generally not controllable in the short-term and can vary significantly based on the timing, size and nature of awards granted. As such, we do not include these charges in operating plans.
Restructuring expenses – In all periods presented, we exclude restructuring expenses incurred because those expenses distort trends and are not part of our core operating results. Adjustments include preliminary estimates relating to restructuring expenses from ShareFile. The final amounts will not be available until the Company’s internal procedures and reviews are completed.
Acquisition-related expenses – We exclude acquisition-related expenses in order to provide a more meaningful comparison of the financial results to our historical operations and forward-looking guidance and the financial results of less acquisitive peer companies. We consider these types of costs and adjustments, to a great extent, to be unpredictable and dependent on a significant number of factors that are outside of our control. Furthermore, we do not consider these acquisition-related costs and adjustments to be related to the organic continuing operations of the acquired businesses and are generally not relevant to assessing or estimating the long-term performance of the acquired assets. In addition, the size, complexity and/or volume of past acquisitions, which often drives the magnitude of acquisition-related costs, may not be indicative of the size, complexity and/or volume of future acquisitions.
Cyber vulnerability response expenses, net – We exclude certain expenses resulting from the zero-day MOVEit Vulnerability, as more thoroughly described in our filings with the Securities and Exchange Commission since June 5, 2023. Expenses include costs to investigate and remediate these cyber related matters, as well as legal and other professional services related thereto. Expenses related to such cyber matters are provided net of expected insurance recoveries, although the timing of recognizing insurance recoveries may differ from the timing of recognizing the associated expenses. Costs associated with the enhancement of our cybersecurity program are not included within this adjustment. We expect to continue to incur legal and other professional services expenses in future periods associated with the MOVEit Vulnerability. Expenses related to such cyber matters are expected to result in operating expenses that would not have otherwise been incurred in the normal course of business operations. We believe that excluding these costs facilitates a more meaningful evaluation of our operating performance and comparisons to our past operating performance.
Provision for income taxes – We adjust our income tax provision by excluding the tax impact of the non-GAAP adjustments discussed above.
Constant currency – Revenue from our international operations has historically represented a substantial portion of our total revenue. As a result, our revenue results have been impacted, and we expect will continue to be impacted, by fluctuations in foreign currency exchange rates. As exchange rates are an important factor in understanding period-to-period comparisons, we present revenue growth rates on a constant currency basis, which helps improve the understanding of our revenue results and our performance in comparison to prior periods. The constant currency information presented is calculated by translating current period results using prior period weighted average foreign currency exchange rates.

In the noted fiscal periods, we also present the following liquidity measures:

Adjusted free cash flow (“AFCF”) and unlevered free cash flow (“Unlevered FCF”) – AFCF is equal to cash flows from operating activities less purchases of property and equipment, plus restructuring payments. Unlevered FCF is AFCF plus tax-effected interest expense on outstanding debt.

In the noted fiscal periods, we also present the following select performance metrics:

Annualized Recurring Revenue (“ARR”) – We disclose ARR as a performance metric to help investors better understand and assess the performance of our business because our mix of revenue generated from recurring sources currently represents the substantial majority of our revenues and is expected to continue in the future. We define ARR as the annualized revenue of all active and contractually binding term-based contracts from all customers at a point in time. ARR includes revenue from maintenance, software upgrade rights, public cloud, and on-premises subscription-based transactions and managed services. ARR mitigates fluctuations in revenue due to seasonality, contract term and the sales mix of subscriptions for term-based licenses and SaaS. We use ARR to understand customer trends and the overall health of our business, helping us to formulate strategic business decisions.
We calculate the annualized value of annual and multi-year contracts, and contracts with terms less than one year, by dividing the total contract value of each contract by the number of months in the term and then multiplying by 12. Annualizing contracts with terms less than one-year results in amounts being included in our ARR that are in excess of the total contract value for those contracts at the end of the reporting period. We generally do not sell non-SaaS-based contracts with a term of less than one year unless a customer is purchasing additional licenses under an existing annual or multi-year contract. The expectation is that at the time of renewal, such contracts with a term less than one year will renew with the same term as the existing contracts being renewed, such that both contracts are co-termed. Historically, such contracts with a term of less than one year renew at rates equal to or better than annual or multi-year contracts.

For SaaS-based contracts, there is a meaningful percentage of monthly auto-renewing contracts for which annualizing the contracts results in amounts being included in our ARR that are in excess of the total contract value for those contracts at the end of the reporting period.

Revenue from term-based license and on-premises subscription arrangements include a portion of the arrangement consideration that is allocated to the software license that is recognized up-front at the point in time control is transferred under ASC 606 revenue recognition principles. ARR for these arrangements is calculated as described above. The expectation is that the total contract value, inclusive of revenue recognized as software license, will be renewed at the end of the contract term.

The calculation is done at constant currency using the current year budgeted exchange rates for all periods presented.

ARR is not defined in GAAP and is not derived from a GAAP measure. Rather, ARR generally aligns to billings (as opposed to GAAP revenue which aligns to the transfer of control of each performance obligation). ARR does not have any standardized meaning and is therefore unlikely to be comparable to similarly titled measures presented by other companies. ARR should be viewed independently of revenue and deferred revenue and is not intended to be combined with or to replace either of those items. ARR is not a forecast and the active contracts at the end of a reporting period used in calculating ARR may or may not be extended or renewed by our customers.

Net Retention Rate (“NRR”) – We calculate net retention rate as of a period end by starting with the ARR from the cohort of all customers as of 12 months prior to such period end (“Prior Period ARR”). We then calculate the ARR from these same customers as of the current period end (“Current Period ARR”). Current Period ARR includes any expansion and is net of contraction or attrition over the last 12 months but excludes ARR from new customers in the current period. We then divide the total Current Period ARR by the total Prior Period ARR to arrive at the net retention rate. Net retention rate is not calculated in accordance with GAAP and is not derived from a GAAP measure.

Note Regarding Forward-Looking Statements

The MIL Network –

July 1, 2025

MIL-OSI USA: Jabil Selects Rowan County for Nearly 1,200 New Jobs and $500 Million Multi-Year Investment

Source: US State of North Carolina

Headline: Jabil Selects Rowan County for Nearly 1,200 New Jobs and $500 Million Multi-Year Investment

Jabil Selects Rowan County for Nearly 1,200 New Jobs and $500 Million Multi-Year Investment
lsaito
Mon, 06/30/2025 – 15:30

Raleigh, NC

Today Governor Josh Stein announced Jabil Inc., a leader in engineering, supply chain, and manufacturing solutions, expects to create 1,181 new jobs in Rowan County. The company says it will invest approximately $500 million over several years to establish a manufacturing facility to support cloud and AI data center customers.

“Companies that are already operating in North Carolina know the value of doing business in our state better than anyone,” said Governor Josh Stein. “We welcome Jabil’s expansion, and we are committed to further developing the largest manufacturing workforce in the southeast and the business-friendly climate they need for this next phase of growth.”

Headquartered in St. Petersburg, Florida, Jabil has a global footprint that spans more than 25 countries and 140,000 employees. The company has 30 locations across the United States, including three in North Carolina. Jabil supports customers across various industries, including AI data center infrastructure, healthcare, warehouse automation, and robotics.

“The drive to build AI data centers is only accelerating in the United States,” said Matt Crowley, Executive Vice President, Global Business Units. “We are excited to help meet that demand, provide additional scale and capabilities for our data center customers, and empower the AI solutions of the future with Jabil’s new facility here in Rowan County.”

“North Carolina has a proven track record of cultivating an environment where companies like Jabil can manufacture innovative solutions for the global economy,” said Commerce Secretary Lee Lilley. “Our ecosystem of workforce training partnerships, Tier 1 research, and growing supply chain is sure to ignite the advancement of this next generation technology and provide the company a great return on its investment.”

Jabil plans to offer job opportunities to attract skilled manufacturing and engineering professionals. These new jobs could create a potential annual payroll impact of more than $73.2 million for the region.

Jabil’s expansion in North Carolina will be facilitated, in part, by a Job Development Investment Grant (JDIG) approved by the state’s Economic Investment Committee earlier today. Over the course of the 12-year term of this grant, the project is estimated to grow the state’s economy by $3.2 billion. Using a formula that takes into account $264 million of the company’s investment as well as the new tax revenues generated by the new jobs, the JDIG agreement authorizes the potential reimbursement to the company of up to $11,251,800, spread over 12 years. State payments only occur following performance verification by the departments of Commerce and Revenue that the company has met its incremental job creation and investment targets.

The project’s projected return on investment of public dollars is 115 percent, meaning for every dollar of potential cost to the state, the state receives $2.15 in state revenue. JDIG projects result in positive net tax revenue to the state treasury, even after taking into consideration the grant’s reimbursement payments to a given company.

Because Jabil chose to locate to Rowan County, classified by the state’s economic tier system as Tier 2, the company’s JDIG agreement also calls for moving $1,250,200 into the state’s Industrial Development Fund – Utility Account. The Utility Account helps rural communities finance necessary infrastructure upgrades to attract future business. Even when new jobs are created in a Tier 2 county such as Rowan, the new tax revenue generated through JDIG grants helps more economically challenged communities elsewhere in the state.

“We welcome Jabil to Rowan County,” said Senator Carl Ford. “These new jobs are proof that our state and local investments to prepare for announcements like this are paying off for both our existing industry and local economy.”

“This is outstanding news for our region,” said Representative Harry Warren. “Our community is centrally located along to East Coast, and thanks to the state’s well-connected transportation network, Jabil can easily access the global market.”

In addition to the North Carolina Department of Commerce and the Economic Development Partnership of North Carolina, other key partners in this project include the North Carolina General Assembly, N.C. Commerce’s Division of Workforce Solutions, the North Carolina Community College System, Rowan-Cabarrus Community College, Rowan County, and Rowan Economic Development Council.

With this announcement, since January 1st, Governor Stein has announced business expansions or new projects that will make nearly $17 billion of new capital investment in North Carolina and create more than 19,000 new good-paying jobs.

To learn more about job opportunities at Jabil, please visit the Jabil Careers site.

Jun 30, 2025

MIL OSI USA News –

July 1, 2025
MIL-OSI: PBK Miner Allocates $1 Million Reward Pool for New AI-Powered 1-Day Mining Contract
Source: GlobeNewswire (MIL-OSI)

Carshalton, UK, June 30, 2025 (GLOBE NEWSWIRE) — PBK Miner, a leading global crypto asset management platform, has officially launched its innovative “1-day contract”, providing new users with a flexible, low-risk way to experience the platform’s capabilities. The product launch coincides with a major promotion with a total giveaway of more than $1 million, with each new registered user receiving a $10 bonus.

Click here to learn more about PBK Miner.

What is PBK Miner? Why buy it now?

PBK Miner has built an intelligent, convenient and sustainable crypto asset management ecosystem. At its core is the proprietary PBK-AI system, which dynamically reconfigures assets between high-potential cryptocurrencies based on real-time market data to optimize returns.

With the launch of “1-Day Contract”, PBK Miner [pbkminer.com] transforms from a high-performance niche platform to an open model that welcomes retail traders and everyday investors around the world.

The platform currently serves more than 8 million users in 183 countries, with recent performance metrics including:

5-day contract strategy: +6.17% return

15-day contract strategy: +20.9% return

30-day contract strategy: +55.8% return

These numbers represent actual user results (not predictions), demonstrating PBK Miner’s AI-driven revenue optimization and results-centric operating model.

“1-Day Contract” Release Details:

This new product is available today on PBK Miner’s web and mobile platforms. Priced at just $10, with daily earnings of $0.60, it provides an easy entry point into PBK Miner’s growing ecosystem.

Community Rewards Event with Over $1 Million

To celebrate the launch, PBK Miner has launched a board-approved bounty program of over $1 million. The event provides a truly hassle-free trial opportunity – all new registered users can receive a $10 bounty, which will be credited to their account dashboard.

Click here to become a new PBK Miner user.

Limited-time event highlights:

– 24-hour intensive mining window: Designed to accelerate earnings, users can mine XRP in a time-optimized manner.

– $1 million mining reward: PBK Miner offers structured reward levels of $10/$40/$1,900/$4,900 to encourage new and old miners to participate.

– Increased daily income: During the event, participants will enjoy higher than usual mining income.

This bold marketing move is designed to attract new users, encourage sharing, and showcase the core product value of PBK Miner.

Click here to view the limited-time mining event.

What it means for cryptocurrency investors

PBK Miner combines AI innovation, fintech advancements, and practical cryptocurrency functionality – three powerful elements that resonate with cryptocurrency investors around the world. It delivers returns without requiring deep technical or trading expertise.

Why PBK Miner is the first choice for both new and experienced XRP miners:

– No equipment required: Get institutional-grade mining power instantly.

– Zero maintenance fees: PBK Miner takes care of power, cooling, and hardware maintenance – users just need to activate the plan.

– $10 welcome bonus: Every new user gets a sign-up bonus and a daily login bonus.

– Daily income + fund security: Users earn income daily, and the principal is returned at contract expiration. Focusing on measurable performance rather than hype, PBK Miner has become a lasting value proposition in the cryptocurrency investment ecosystem.

About PBK Miner

PBK Miner is operated by PBK FINANCIAL SERVICES LTD (Company Number: 12272456), which represents a new digital asset platform – data-driven, performance-focused, and globally trusted. Since its establishment in 2019, the Leyland-based company has grown into one of the most popular cryptocurrency investment opportunities for return-oriented (rather than speculative) investors this year.

Full details and how to participate: https://pbkminer.com/

Disclaimer: The information provided in this press release does not constitute an investment solicitation, nor does it constitute investment advice, financial advice, or a trading recommendation. Cryptocurrency mining and staking involve risks and may result in the loss of funds. It is strongly recommended that you perform due diligence before investing or trading in cryptocurrencies and securities, including consulting a professional financial advisor.

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The MIL Network –
July 1, 2025
MIL-OSI: Progress Software Acquires Nuclia, an Innovator in Agentic RAG AI Technology

Source: GlobeNewswire (MIL-OSI)

Company adds easy-to-use agentic RAG-as-a-service product for organizations to automate and retrieve verifiable, high-quality AI search and generative answers

BURLINGTON, Mass., June 30, 2025 (GLOBE NEWSWIRE) — Progress Software (Nasdaq: PRGS), the trusted provider of AI-powered digital experience and infrastructure software, today announced the acquisition of Nuclia, an innovator in agentic Retrieval-Augmented Generation (RAG) AI solutions. Nuclia provides a unique agentic RAG-as-a-service product enabling organizations to automatically leverage their own proprietary business information to retrieve verifiable, accurate answers using GenAI.

“Nuclia’s easy-to-use, self-service SaaS product democratizes the use of trustworthy and verifiable GenAI,” said Yogesh Gupta, CEO of Progress Software. “Small to mid-sized businesses, as well as large global corporations, can quickly and easily reap the benefits of sophisticated agentic RAG capabilities using Nuclia SaaS without the need for significant upfront investment.”

“The rapid evolution of AI has transformed how organizations interact with information, creating new possibilities for more accurate, dynamic, and context-aware systems,” said Eudald Camprubí, CEO and Co-founder at Nuclia. “Agentic RAG is a cutting-edge approach that combines the power of large language models (LLMs) with business’ own proprietary data to provide accurate and trustworthy answers. Our team at Nuclia is proud of what we have built, and we are excited to join Progress to continue to advance this important technology.”

Nuclia will extend the end-to-end value of the Progress Data Platform while creating opportunities to reach a broader market of organizations looking to easily leverage the value of agentic RAG technology.

The acquisition was signed and closed today and is immaterial to Progress’ financials.

To learn more about Nuclia, go to https://nuclia.com.

About Progress Software
Progress Software (Nasdaq: PRGS) empowers organizations to achieve transformational success in the face of disruptive change. Our software enables our customers to develop, deploy and manage responsible AI-powered applications and digital experiences with agility and ease. Customers get a trusted provider in Progress, with the products, expertise and vision they need to succeed. Over 4 million developers and technologists at hundreds of thousands of enterprises depend on Progress. Learn more at www.progress.com.

About Nuclia
Nuclia, the RAG-as-a-Service company, is revolutionizing data-driven systems and processes to deliver previously unimaginable business value. Organizations across all sectors grapple with a common challenge: how to extract answers and unlock value from their internal data, both tacit and explicit. Nuclia uniquely solves this problem by converting this extensive and valuable repository of data into actionable, accessible knowledge. Learn more at https://nuclia.com.

Progress and Nuclia are trademarks or registered trademarks of Progress Software Corporation and/or one of its subsidiaries or affiliates in the U.S. and other countries. Any other trademarks contained herein are the property of their respective owners.

Press Contact:
Kim Baker
Progress Software
+1-800-477-6473
pr@progress.com

The MIL Network –

July 1, 2025
MIL-OSI Economics: Members spotlight transparency and development in discussions on standards and regulations

Source: WTO

Headline: Members spotlight transparency and development in discussions on standards and regulations

Daniela García of Ecuador handed over the Committee Chairperson role to Beatriz Stevens of the United Kingdom.
Transparency and notification practices
The week opened with a special meeting on transparency, featuring speakers from various regions, complemented by interactive discussions in breakout groups among all members. Representatives from TBT Enquiry Points shared their experiences on domestic institutional arrangements related to transparency, on opportunities to comment on members’ notifications and on ensuring timely preparation and submission of TBT notifications. Speakers emphasized the importance of timely consultation of all stakeholders in the regulatory process to improve the quality of regulations.
Representatives from the private sector shared how they use the ePing platform to track, in real time, the 4,000+ notifications on product requirements circulated annually. They shared examples of how members viewed technical comments positively in the development of regulations, helping to further align them with international standards and avoid unnecessary trade disruptions.
Throughout the session, members highlighted the benefits of using ePing to track information and meet transparency obligations. They welcomed the launch of a new feature in ePing where users can quickly receive translations of notified texts from non-WTO official languages into English, French and Spanish. They also made suggestions to further facilitate stakeholders’ access to ePing and keep track of developments in product regulations.
Members noted the significant progress made by the TBT Committee in strengthening transparency practices since the last special meeting in 2023. This includes the adoption of updates and improvements to the notification templates and guidelines as well as the finalization of a good practice guide for commenting . These improvements build on the work of the Transparency Working Group, reflecting continued efforts to streamline procedures and enhance access to information. The recording of the special meeting can be watched here.
Thematic session: special and differential treatment
A dedicated thematic session held on 24 June examined how developing and least-developed country members can better use flexibilities under the TBT Agreement. In particular, the session explored members’ experiences in using special and differential treatment disciplines under the Agreement, members’ engagement in the Committee’s work and the need for targeted capacity-building activities, including for developing quality infrastructure.
The session drew on the themes of the Thirteenth WTO Ministerial Conference Declaration on Special and Differential Treatment, with the participation of Ambassador Kadra Hassan of Djibouti, Chair of the Committee on Trade and Development in Special Session. The panel discussion featured speakers from Brazil, Cambodia, Ecuador, Kenya, Senegal, Uganda, Viet Nam and Zambia. The recording of the session can be watched here.
Specific trade concerns
A total of 78 trade concerns regarding members’ proposed and final TBT regulations were raised at the Committee’s regular meeting. Among these, 20 were raised for the first time. The full list is available here.
The new trade concerns addressed a wide variety of regulatory issues related to home appliances, cotton bales, industrial chemicals, energy and warehouse storage systems, electrical equipment safety, biodegradable plastic products, and vehicles, among others.
Japan reported that progress was made on the trade concerns it had raised on certain provisions of China’s standard for information security technology for office devices, noting that such provisions have now been deleted, and thanking China for its cooperation.
Side events and training: practical tools and partnerships
Two ePing training sessions, led by the WTO Secretariat, were held on 25 and 26 June.
In addition, three side events were organized. The United States hosted a workshop on international standards for food and agriculture traceability on 24 June, led by the standards organization ASTM. On 25 June, the International Trade Centre showcased how quality and sustainability standards support development, with a case study from Burundi and a demonstration of the Standards Map tool. On 26 June, the United Kingdom and the International Chamber of Commerce UK led a session on market access challenges and how tools such as ePing can support private sector engagement in members’ work on TBT and on sanitary and phytosanitary measures.
What is next?
The next TBT Committee meetings will be held from 10 to 14 November. Thematic sessions will focus on international standards for critical and emerging technologies, including AI, semiconductors and positioning systems, as well as good regulatory practices and metrology. A cross-cutting discussion on non-tariff measures under the WTO Information Technology Agreement will also be scheduled.

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MIL OSI Economics –

July 1, 2025
MIL-OSI Economics: Verizon celebrates 25 years of powering how people live, work and play

Source: Verizon

Headline: Verizon celebrates 25 years of powering how people live, work and play

NEW YORK, NY – For 25 years, Verizon has been leading with technology and innovation for our customers and helped shape the way Americans connect every day. What started as a bold vision in 2000 has grown into a company with the most wireless retail connections in the industry and a network of technological breakthroughs that empowers millions of people to live, work and play in new, connected ways. Today, Verizon is marking our 25th anniversary by celebrating our past and looking to the future: building smarter networks, supporting communities and equipping the next generation.

“For 25 years, our purpose has been rooted in our name: Veritas, delivering the truth and reliability that our customers trust, and Horizon, always looking forward,” said Hans Vestberg, Chairman and CEO of Verizon. “This is why we’ve built the nation’s most reliable 5G network. But it’s the people behind it — our V Team — who give us our heart. As we celebrate our past, our focus is firmly on the future: extending our leadership with intelligent solutions to connect every home and business to the possibilities of tomorrow.”

25 years of firsts

Verizon’s story is one of constant innovation. From pay phones to flip phones to smartphones, to rolling out 4G LTE nationwide, to being one of the first major carriers to launch fiber to the home with Fios, to pioneering the first 5G mobile network, Verizon has kept America and its customers at the forefront of technology. Along the way, our “Can you hear me now?” campaign has become a cultural touchstone, reminding consumers that reliability matters.

A commitment to communities

Verizon’s legacy is more than technology. In moments of crisis, like 9/11 and Hurricanes Katrina, Sandy and countless other natural disasters, Verizon teams work around the clock to keep families and first responders connected when they need it most. Our disaster resiliency work has since expanded to work with communities at risk of natural disasters year-round to empower them to be prepared for and able to recover from these disasters with greater confidence and connectivity.

Building on Verizon’s support of communities, our commitment to closing the digital divide has brought digital skills training to nearly 9 million students through Verizon Innovative Learning. And, we know that staying connected isn’t just about access — it’s about supporting the well-being of the communities we serve by encouraging healthy relationships with technology. Through free resources that help parents guide their children’s tech use, and partnerships with digital wellness organizations, Verizon is working to ensure that everyone can navigate the digital world safely and confidently.

Investing in America’s small businesses

Verizon’s Small Business Digital Ready program offers a free online platform — designed in partnership with small business owners, for small business owners — featuring 50+ free courses such as AI automation, social media marketing, financial planning, as well as peer networking, community events and one-on-one coaching. To date, the program has supported more than 500,000 businesses.

In addition, Verizon is opening doors for small businesses with our new Small Business Supplier Accelerator program — a commitment to spend $5 billion with small business suppliers over the next five years to help small businesses grow and thrive by working with Verizon and other large corporations.

The Next 25: An AI-powered, customer-first future and expanding America’s most-reliable 5G network

As part of this vision, Verizon’s pending acquisition of Frontier Communications represents a landmark expansion of our fiber footprint, poised to bring premium fiber connectivity to millions of new households. For the enterprise, Verizon AI Connect puts us at the forefront of powering the emerging AI economy, combining our industry-leading intelligent network with our expansive data center assets to deliver AI workloads at scale.

At the same time, Verizon is redefining the customer experience with a suite of AI-powered enhancements. Key features include a “Customer Champion” team, where a dedicated expert leverages Google’s Gemini AI models to resolve complex issues from start to finish. This is complemented by new 24/7 live chat support and a redesigned My Verizon app that uses AI to provide proactive solutions.

This is the latest chapter in a 25-year story of innovation with Verizon setting a new standard of how to connect customers at home and on the go.

MIL OSI Economics –

July 1, 2025
MIL-OSI Economics: Members explore technology transfer case studies, patent information, trade-related IP data

Source: WTO

Headline: Members explore technology transfer case studies, patent information, trade-related IP data

Discussions at the meeting saw a high level of engagement by delegations. Members highlighted how voluntary technology transfer to developing economies can boost innovation, productivity and development, drawing on sectoral case studies. They also focused on better harnessing information from expired patents and underlined the importance of systematic, transparent reporting on global IP trade flows.
A paper entitled “Intellectual Property and Innovation: Technology Transfer case studies” was submitted by Australia, Canada, the European Union, Israel, Japan, the Republic of Korea, New Zealand, Singapore, Switzerland, Chinese Taipei, the United Kingdom and the United States.
The paper highlights how technology enhances productivity, competitiveness, growth and development, motivating countries to foster an environment that attracts voluntary technology transfer and innovation. The paper invites members to submit case studies on voluntary transfers of patent-protected or trade secret technologies and highlights the importance of domestic policies and capacity-building. The aim of the paper is to inform TRIPS Council discussions on incentivizing mutually beneficial technology transfer to address global challenges.
The paper indicates that practical examples are useful in illustrating how technology transfer occurs across sectors such as agriculture, sustainability and manufacturing. IP offices and WIPO GREEN, an online platform for technology exchange, provide case studies and opportunities to promote green technology exchange. TRIPS Article 66.2 on technology transfer details incentives for transfer to least-developed countries (LDCs). In public health, the Medicines Patent Pool (MPP) enables voluntary sublicensing of patented treatments, increasing access to lifesaving medicines and supporting local production.
Colombia submitted a communication titled “After-life of patents” proposing joint efforts ahead of the 14th WTO Ministerial Conference (MC14), to be held in Cameroon in March 2026, to explore better use of patent information, potentially expanding the discussion to copyrighted works. The proposal envisions a cooperative WTO approach, without affecting debates on the need for balance in IP protection. Colombia said it is considering an MC14 decision where members would agree to make patent disclosures publicly accessible, promote good practices for their use, permit artificial intelligence (AI) training on such data, and establish a global, publicly accessible repository for such information.
Colombia submitted a second paper for discussion: “Trade-Related Figures of Intellectual Property at the WTO: The Case of IP Royalties at the Global Level”. The paper argues that since the TRIPS Agreement’s adoption in 1995, WTO members have applied common IP standards yet little focus has been placed on trade-related IP metrics. Unlike goods and services, IP trade flows – such as royalty payments – receive limited, inconsistent attention in WTO data. Occasional studies exist but lack regularity. However, reliable data is available through IMF and World Bank sources, which track cross-border royalty payments in national balance of payments statistics, offering an important resource for understanding global IP trade dynamics.
The paper suggests the WTO should implement systematic, detailed reporting on IP-related financial flows, integrating this data into TRIPS Council updates, Trade Policy Reviews and WTO databases. Disaggregated by IP category, such data would support informed policy decisions and foster balanced, evidence-based debate on the global IP regime.
Notifications
Members were updated on notifications under various provisions of the TRIPS Agreement that the Council has received since its last meeting in March.
The Chair of the Council, Emmanuelle Ivanov-Durand of France, said that the pace of notifications to the Council has increased in recent years, but they are still not keeping up with the actual development of laws and regulations relating to TRIPS. She emphasized that TRIPS Article 63.2 is not a “one-off” requirement but a core element of TRIPS transparency and a central part of the Council’s work. It obliges members to notify new or amended laws on TRIPS, including those recently adopted to address the COVID-19 pandemic.
This requirement includes the notification of legislative changes to implement the special compulsory licensing system to export medicines covered by TRIPS Article 31bis. The notification of relevant laws and regulations can assist members in preparing for the potential use of the system. It would also help the WTO Secretariat in its efforts to provide informed technical support to members.
The Chair recalled that the e-TRIPS Submission System is available for members to easily notify their laws and to make other required submissions to the TRIPS Council. The platform also permits digital access, consultation and analysis of information through the e-TRIPS Gateway, an easy-to-use interface to search and display information related to the TRIPS Council.
Members agreed to test the e-Agenda tool at the next TRIPS Council meeting on a trial, non-committal basis. Developed by the Secretariat and already in use across over 20 WTO bodies, the e-Agenda enhances transparency, organization and access to meeting documents and statements. The Chair stressed that implementation costs would be minimal, with a tailored prototype and training available. The trial aims to assess the practical value of the tool without altering established procedures.
Non-violation and situation complaints
Members repeated their well-known positions on the issue of non-violation and situation complaints (NVSCs) under the TRIPS Agreement. With less than a year to go to the 14th WTO Ministerial Conference (MC14), the Chair reminded members that it is a ministerial mandate for the Council to examine the scope and modalities for NVSCs, and that members should make serious efforts to do so.
The Chair noted that members have not displayed much appetite for advancing substantive discussions in this area. If this situation persists in the coming months, it is difficult to foresee any outcome in this area at MC14 other than an extension of the moratorium or its expiry, she noted. She suggested that if discussion on this matter is going to be limited to choosing between these two options, members could decide in Geneva ahead of MC14.
At the 13th Ministerial Conference (MC13) in Abu Dhabi in 2024, ministers adopted a Decision on TRIPS Non-Violation and Situation Complaints, instructing the TRIPS Council to continue reviewing the issue and submit recommendations to MC14. Until then, members agreed not to initiate such complaints under the TRIPS Agreement.
The Decision on TRIPS Non-Violation and Situation Complaints concerns whether and how WTO members can bring disputes to the WTO alleging that an action or situation has nullified expected benefits under the TRIPS Agreement, even without a specific violation.
Other issues
WTO members continued talks on how to proceed on the long overdue review of the implementation of the TRIPS Agreement. Under Article 71.1, the TRIPS Council is required to conduct a review of the implementation of the Agreement after two years and at periodic intervals thereafter. However, the initial review in 1999 was never completed and no review has subsequently been initiated.
The Chair recalled that members were able to propose last year a process for the first review, which ultimately could not be adopted. After holding informal consultations in May with the most active member on this issue to find a way forward, the Chair has concluded that the concerns that prevented the adoption of the proposal remain.
Ms Ivanov-Durand noted that the mandate set out in TRIPS Article 71.1 is highly significant and encouraged delegations to keep working towards the initiation of the implementation review. A number of delegations expressed their willingness to continue discussions on this issue. The Chair expressed her availability to conduct further informal consultations once there is greater likelihood of members agreeing on how to make substantial progress.
The Council did not agree on renewing the invitation to the European Free Trade Association (EFTA) to participate in the TRIPS Council as ad hoc observer. This invitation had been renewed on a meeting-to-meeting basis since 2012. A number of members said that the current list of observers is not balanced and asked the Council to reassess the situation with regards other international intergovernmental organizations whose requests have been pending for years. It was suggested that the Chair could address this issue in the technical meetings she is planning with members.
The updated list of pending requests for observer status in the TRIPS Council by intergovernmental organizations is contained in document IP/C/W/52/Rev.14.
The Chair said that there have been no new acceptances of the protocol amending the TRIPS Agreement since the last Council meeting. This means that, to date, the amended TRIPS Agreement applies to 141 members. Twenty-five members have yet to accept the Protocol. The current period for accepting the protocol runs until 31 December 2025.
Next meeting
The next regular meeting of the TRIPS Council is scheduled for 10-11 November 2025.

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MIL OSI Economics –

July 1, 2025

MIL-OSI USA: US Department of Labor awards nearly $84M in grants to expand Registered Apprenticeships

Source: US Department of Labor

WASHINGTON – The U.S. Department of Labor today announced the award of nearly $84 million in grants to 50 states and territories to increase the capacity of Registered Apprenticeship programs, representing an important step toward meeting the Administration’s goal of expanding the program to 1 million active apprentices.

Since the beginning of the Trump Administration, over 134,000 new apprentices have registered across the nation. Today’s awards represent the base formula funding and competitive funding to states to increase their ability to serve, improve, and expand Registered Apprenticeship programs. This represents the third round of State Apprenticeship Expansion Formula funding the department has awarded.

This investment will further accelerate Registered Apprenticeship programs, incentivize the creation and ongoing success of programs, reduce barriers to entry for new employers and industries, foster innovation, and enhance overall transparency among Registered Apprenticeship stakeholders.

“Registered Apprenticeships are a vital tool for skills development, national economic competitiveness, business growth, and individual opportunity. They will become even more important as President Trump continues to create jobs in critical sectors like manufacturing and construction,” said U.S. Secretary of Labor Lori Chavez-DeRemer. “I am committed to providing states and territories with the resources needed to meet their unique economic demands. Together, we will achieve President Trump’s goal of 1 million new active apprentices.”

State Apprenticeship Expansion Formula funding will support the implementation of several Presidential Executive Orders related to enhancing and expanding the National Apprenticeship system including, “Preparing Americans for High-Paying Skilled Trade Jobs of the Future,” “Advancing Artificial Intelligence Education for American Youth,” “Restoring America’s Maritime Dominance,” and “Reinvigorating the Nuclear Industrial Base.”

The funding advances the expansion of Registered Apprenticeships in both traditional and emerging industries, including technology, Artificial Intelligence, advanced manufacturing, supply chain, transportation, building trades, and construction.

The department awarded the following funding through the State Apprenticeship Expansion Formula grants:

Recipient	City	State	Amount
Alaska Department of Labor and Workforce Development	Juneau	AK	$423,872
Arizona Department of Economic Security	Phoenix	AZ	$920,467
Arkansas Department of Commerce	Little Rock	AR	$780,950
Colorado Department of Labor and Employment	Denver	CO	$856,474
Commonwealth of the Northern Mariana Islands Department of Labor Workforce Investment Agency Division	Saipan	MP	$75,000
Delaware Department of Labor	Wilmington	DE	$418,450
Georgia Technical College System	Atlanta	GA	$1,100,109
Guam Department of Administration	Tamuning	GU	$330,482
Hawaii Department of Labor and Industrial Relations	Honolulu	HI	$556,981
Idaho Department of Labor	Boise	ID	$485,605
Illinois Department of Commerce and Economic Opportunity	Springfield	IL	$1,665,343
Indiana Department of Workforce Development	Indianapolis	IN	$1,281,731
Iowa Workforce Development	Des Moines	IA	$766,805
Kansas Department of Commerce	Topeka	KS	$543,717
Kentucky Department of Workforce Development	Frankfort	KY	$741,890
Louisiana Workforce Commission	Baton Rouge	LA	$653,593
Maine Department of Labor	Augusta	ME	$420,202
Maryland Department of Labor	Baltimore	MD	$1,069,642
Massachusetts Executive Office of Labor and Workforce Development	Boston	MA	$1,008,964
Michigan Department of Labor and Economic Opportunity	Lansing	MI	$1,475,943
Minnesota Department of Labor and Industry	Saint Paul	MN	$979,062
Mississippi Department of Employment Security	Jackson	MS	$532,030
Missouri Department of Higher Education and Workforce Development	Jefferson City	MO	$1,337,414
Montana Department of Labor and Industry	Helena	MT	$447,029
Nebraska Department of Labor	Lincoln	NE	$492,392
Nevada Office of the Labor Commissioner	Las Vegas	NV	$695,737
New Hampshire Community College System	Concord	NH	$482,658
New Jersey Department of Labor and Workforce Development	Trenton	NJ	$1,118,059
New Mexico Workforce Solutions Department	Albuquerque	NM	$506,824
New York Department of Labor	Albany	NY	$1,920,269
North Carolina Community College System Office	Raleigh	NC	$1,158,891
North Dakota Department of Public Instruction	Bismarck	ND	$399,249
Ohio Department of Job and Family Services	Columbus	OH	$1,640,376
Oklahoma Department of Career and Technology Education	Stillwater	OK	$590,719
Oregon Higher Education Coordinating Commission	Salem	OR	$864,103
Pennsylvania Department of Labor and Industry	Harrisburg	PA	$1,417,575
Puerto Rico Department of Economic Development and Commerce	San Juan	PR	$441,721
Rhode Island Department of Labor and Training	Cranston	RI	$444,939
South Carolina Board for Technical and Comprehensive Education	Columbia	SC	$771,633
South Dakota Department of Labor and Regulation	Pierre	SD	$397,630
Tennessee Department of Labor and Workforce Development	Nashville	TN	$939,312
Texas Workforce Commission	Austin	TX	$2,817,802
Utah Department of Workforce Services	Salt Lake City	UT	$629,467
Vermont Department of Labor Workforce Development	Montpelier	VT	$395,708
Virgin Islands Department of Education	St. Thomas	VI	$75,000
Virginia Department of Workforce Development and Advancement	Richmond	VA	$1,129,005
Washington State Department of Labor and Industries	Tumwater	WA	$1,355,532
West Virginia Department of Economic Development	Charleston	WV	$515,521
Wisconsin Department of Workforce Development	Madison	WI	$1,015,406
Wyoming Department of Workforce Services	Cheyenne	WY	$352,363

The department also awarded the following competitive State Apprenticeship Expansion Formula grants:

Recipient	City	State	Amount
Georgia Technical College System	Atlanta	GA	$5,000,000
Illinois Department of Commerce and Economic Opportunity	Springfield	IL	$5,000,000
Indiana Department of Workforce Development	Indianapolis	IN	$4,970,242
Maine Department of Labor	Augusta	ME	$5,000,000
Massachusetts Executive Office of Labor and Workforce Development	Boston	MA	$5,000,000
Montana Department of Labor and Industry	Helena	MT	$4,000,000
Oregon Higher Education Coordinating Commission	Salem	OR	$4,990,464
Rhode Island Department of Labor and Training	Cranston	RI	$4,242,278
Tennessee Department of Labor and Workforce Development	Nashville	TN	$5,000,000

MIL OSI USA News –

July 1, 2025

MIL-OSI USA: CISA and Partners Urge Critical Infrastructure to Stay Vigilant in the Current Geopolitical Environment
News In Brief – Source: US Computer Emergency Readiness Team

Today, CISA, in collaboration with the Federal Bureau of Investigation (FBI), the Department of Defense Cyber Crime Center (DC3), and the National Security Agency (NSA), released a Fact Sheet urging organizations to remain vigilant against potential targeted cyber operations by Iranian state-sponsored or affiliated threat actors.

Over the past several months, there has been increasing activity from hacktivists and Iranian government-affiliated actors, which is expected to escalate due to recent events. These cyber actors often exploit targets of opportunity based on the use of unpatched or outdated software with known Common Vulnerabilities and Exposures or the use of default or common passwords on internet-connected accounts and devices.

At this time, we have not seen indications of a coordinated campaign of malicious cyber activity in the U.S. that can be attributed to Iran. However, CISA, FBI, DC3, and NSA strongly urge critical infrastructure asset owners and operators to implement the mitigations recommended in the joint Fact Sheet, which include:
- Identifying and disconnecting operational technology and industrial control systems devices from the public internet,
- Protecting devices and accounts with strong, unique passwords,
- Applying the latest software patches, and
- Implementing phishing-resistant multifactor authentication for access to OT networks.
Review the joint Fact Sheet: Iranian Cyber Actors May Target Vulnerable US Networks and Entities of Interest and act now to understand the Iranian state-backed cyber threat, assess and mitigate cybersecurity weaknesses, and review and update incident response plans to strengthen your network against malicious cyber actors.

MIL OSI USA News –
July 1, 2025
MIL-OSI USA: Joint Statement from CISA, FBI, DC3 and NSA on Potential Targeted Cyber Activity Against U.S. Critical Infrastructure by Iran

News In Brief – Source: US Computer Emergency Readiness Team

Iranian state-sponsored or affiliated threat actors are known to conduct a range of targeted cyber activity to include exploit known vulnerabilities in unpatched or outdated software, compromise internet-connected accounts and devices that use default or weak passwords and work with ransomware affiliates to encrypt, steal and leak sensitive information.

At this time, we have not seen indications of a coordinated campaign of malicious cyber activity in the U.S. that can be attributed to Iran. However, we are urging critical infrastructure organizations to stay vigilant to Iranian-affiliated cyber actors that may target U.S. devices and networks. We strongly urge organizations to review our joint fact sheet and implement recommended actions to strengthen our collective defense against this potential cyber activity.

The Cybersecurity and Infrastructure Security Agency (CISA), Federal Bureau of Investigation (FBI), Department of Defense Cyber Crime Center (DC3) and the National Security Agency (NSA) are actively monitoring and coordinating with government, industry, and international partners to identify and share actionable intelligence and provide resources and assistance. We also strongly urge organizations report suspicious or criminal activity related to potential Iranian cyber activity.

MIL OSI USA News –

July 1, 2025
MIL-OSI Canada: Investing in Indigenous tourism
Alberta’s tourism sector is thriving, with the province hitting a record-breaking $14.4 billion in visitor spending last year. Indigenous-led tourism is playing a key role in this growth by creating year-round demand, with almost half of international visitors seeking unique and authentic experiences when travelling to Alberta to discover the rich Indigenous cultures, traditions and perspectives across the province.

To support the growing demand for Indigenous-led tourism experiences, Alberta’s government has committed to investing another $6 million over three years through Travel Alberta’s renewed agreement with Indigenous Tourism Alberta. This investment builds upon the province’s previous record-breaking investments in Indigenous-led tourism, creating meaningful employment and ownership opportunities for Indigenous Peoples while helping reach the ambitious goal of growing Alberta’s annual visitor spending to $25 billion by 2035.

“This continued support gives Indigenous tourism operators the opportunity to provide authentic experiences for visitors to learn about the histories, arts, cultures and perspectives of Indigenous Peoples. Not only does this strengthen Alberta’s visitor economy, but it creates jobs and economic opportunities for Indigenous communities across the province while fostering understanding and supporting reconciliation.”

Andrew Boitchenko, Minister of Tourism and Sport

This continued investment by Alberta’s government will support Indigenous Tourism Alberta’s mentorship and development programs for Indigenous tourism operators, as well as enable joint promotional activities that drive international demand for Indigenous tourism operators across the province. By continuing to invest more in Indigenous-led tourism than any other province, Alberta’s government is positioning the province as a premier destination for travellers and helping the rich histories and cultures of Indigenous Peoples shine on the world stage.

“When Indigenous communities lead their own tourism initiatives, the benefits ripple far beyond the visitor experience. This renewed investment supports Indigenous ownership, strengthens local economies and helps build vibrant, self-sustaining communities. We recently expanded the mandate of the Alberta Indigenous Opportunities Corporation to include tourism, opening more doors for Indigenous entrepreneurs to access capital, grow their businesses and shape the future of Alberta’s tourism sector. We’re proud to stand with Indigenous Tourism Alberta in building a stronger, more inclusive economy for all.”

Rajan Sawhney, Minister of Indigenous Relations

“We’re seeing increasing demand for Indigenous tourism from all over the world at our business, and a strong partnership between Indigenous Tourism Alberta and Travel Alberta is so important to keep that progressing. Tourism is competitive, and Indigenous entrepreneurs represent a huge opportunity as a market differentiator for the entire industry in Alberta, so I’m thrilled to see this collaboration continue.”

Brenda Holder, chair and founding member of Indigenous Tourism Alberta, owner of Mahikan Trails

“This renewed investment is a continuation of our long-standing partnership with Indigenous Tourism Alberta, built on a shared vision: more authentic, transformative travel experiences, driven by Indigenous communities that want to share their stories with the world. It reaffirms our belief that Indigenous tourism has the power to support thriving communities, creating economic and entrepreneurial opportunities for Indigenous Peoples to own and lead.”

Jon Mamela, chief commercial officer, Travel Alberta

Quick facts
- Through Travel Alberta’s renewed agreement with Indigenous Tourism Alberta, Alberta’s government is investing $6 million over three years to support Indigenous-led tourism.
- Since 2021, Alberta’s government invested a historic $12 million to support the growth of Indigenous-owned tourism businesses and organizations across the province.
- Indigenous tourism contributed $126 million in GDP to Alberta’s economy last year, and is projected to contribute another $138.6 million in 2025.
Related information
- Indigenous Tourism Alberta
- Higher ground: a tourism sector strategy
Related news
- Alberta’s tourism soars past national average (Jun. 18, 2025)
- Alberta tops Canada in tourism growth (Apr. 8, 2025)
- Supporting Indigenous business development (Mar. 21, 2025)
- Alberta tourism shines on the national stage (Jan. 24, 2025)
- AIOC mandate expands to tourism (Oct. 30, 2024)
- Celebrating Indigenous Tourism (Oct. 4, 2024)
MIL OSI Canada News –
July 1, 2025
MIL-OSI Europe: REPORT on the security of energy supply in the EU – A10-0121/2025

Source: European Parliament

MOTION FOR A EUROPEAN PARLIAMENT RESOLUTION

on the security of energy supply in the EU

(2025/2055(INI))

The European Parliament,

– having regard to the Treaty on the Functioning of the European Union, and in particular Article 194 thereof,

– having regard to Council Directive 2009/119/EC of 14 September 2009 imposing an obligation on Member States to maintain minimum stocks of crude oil and/or petroleum products [1] (Oil Stocks Directive),

– having regard to the Commission communication of 28 May 2014 entitled ‘European Energy Security Strategy’ (COM(2014)0330),

– having regard to Regulation (EU) 2017/1938 of the European Parliament and of the Council of 25 October 2017 concerning measures to safeguard the security of gas supply and repealing Regulation (EU) No 994/2010 [2],

– having regard to Directive (EU) 2019/944 of the European Parliament and of the Council of 5 June 2019 on common rules for the internal market for electricity and amending Directive 2012/27/EU [3],

– having regard to Regulation (EU) 2019/943 of the European Parliament and of the Council of 5 June 2019 on the internal market for electricity [4],

– having regard to Regulation (EU) 2019/941 of the European Parliament and of the Council of 5 June 2019 on risk-preparedness in the electricity sector and repealing Directive 2005/89/EC [5],

– having regard to the Commission communication of 11 December 2019 entitled ‘The European Green Deal’ (COM(2019)0640),

– having regard to the Commission communication of 8 July 2020 entitled ‘Powering a climate-neutral economy: An EU Strategy for Energy System Integration’ (COM(2020)0299),

– having regard to Regulation (EU) 2021/1153 of the European Parliament and of the Council of 7 July 2021 establishing the Connecting Europe Facility and repealing Regulations (EU) 1316/2013 and (EU) No 283/2014 [6],

– having regard to Regulation (EU) 2021/1119 of the European Parliament and of the Council of 30 June 2021 establishing the framework for achieving climate neutrality and amending Regulations (EC) No 401/2009 and (EU) 2018/1999 (‘European Climate Law’)[7],

– having regard to Regulation (EU) 2022/869 of the European Parliament and of the Council of 30 May 2022 on guidelines for trans-European energy infrastructure, amending Regulations (EC) No 715/2009, (EU) 2019/942 and (EU) 2019/943 and Directives 2009/73/EC and (EU) 2019/944, and repealing Regulation (EU) No 347/2013 [8],

– having regard to the joint communication from the Commission and the High Representative of the Union for Foreign Affairs and Security Policy of 18 May 2022 entitled ‘EU external energy engagement in a changing world’ (JOIN(2022)0023),

– having regard to the Commission communication of 18 May 2022 entitled ‘REPowerEU Plan’ (COM(2022)0230),

– having regard to the Commission communication of 18 October 2022 entitled ‘Digitalising the energy system – EU action plan’ (COM(2022)0552),

– having regard to the final assessment report on the EU-NATO Task Force on the resilience of critical infrastructure, published in June 2023,

– having regard to Directive (EU) 2023/1791 of the European Parliament and of the Council of 13 September 2023 on energy efficiency and amending Regulation (EU) 2023/955 (recast)[9] (Energy Efficiency Directive),

– having regard to the Euratom Supply Agency Annual Report 2023,

– having regard to Directive (EU) 2023/2413 of the European Parliament and of the Council of 18 October 2023 amending Directive (EU) 2018/2001, Regulation (EU) 2018/1999 and Directive 98/70/EC as regards the promotion of energy from renewable sources, and repealing Council Directive (EU) 2015/652 (the Renewable Energy Directive)[10],

– having regard to Directive (EU) 2024/1788 of the European Parliament and of the Council of 13 June 2024 on common rules for the internal markets for renewable gas, natural gas and hydrogen, amending Directive (EU) 2023/1791 and repealing Directive 2009/73/EC (recast)[11],

– having regard to Regulation (EU) 2024/1789 on the internal markets for renewable gas, natural gas and hydrogen, amending Regulations (EU) No 1227/2011, (EU) 2017/1938, (EU) 2019/942 and (EU) 2022/869 and Decision (EU) 2017/684 and repealing Regulation (EC) No 715/2009 (recast)[12],

– having regard to Regulation (EU) 2024/1787 of the European Parliament and of the Council of 13 June 2024 on the reduction of methane emissions in the energy sector and amending Regulation (EU) 2019/942 [13],

– having regard to Directive (EU) 2024/1711 of the European Parliament and of the Council of 13 June 2024 amending Directives (EU) 2018/2001 and (EU) 2019/944 as regards improving the Union’s electricity market design [14],

– having regard to Regulation (EU) 2024/1747 of the European Parliament and of the Council of 13 June 2024 amending Regulations (EU) 2019/942 and (EU) 2019/943 as regards improving the Union’s electricity market design (Electricity Market Design (EMD) Regulation)[15],

– having regard to its resolution of 14 November 2024 on EU actions against the Russian shadow fleets and ensuring a full enforcement of sanctions against Russia [16],

– having regard to the report by Sauli Niinistö entitled ‘Safer Together – Strengthening Europe’s Civilian and Military Preparedness and Readiness’ (Niinistö report), published on 30 October 2024,

– having regard to European Court of Auditors Special Report 09/2024 entitled ‘Security of the supply of gas in the EU’[17],

– having regard to the Commission communication of 29 January 2025 entitled ‘A Competitiveness Compass for the EU’ (COM(2025)0030),

– having regard to the joint communication from the Commission and the High Representative of the Union for Foreign Affairs and Security Policy of 21 February 2025 entitled ‘EU Action Plan on Cable Security’ (JOIN(2025)0009),

– having regard to the Commission communication of 26 February 2025 entitled ‘Action Plan for Affordable Energy’ (COM(2025)0079),

– having regard to the joint communication from the Commission and the High Representative of the Union for Foreign Affairs and Security Policy of 26 March 2025 on the European Preparedness Union Strategy (JOIN(2025)0130),

– having regard to Rule 55 of its Rules of Procedure,

– having regard to the report of the Committee on Industry, Research and Energy (A10-0121/2025),

A. whereas energy security is a key building block of a resilient, sustainable and competitive economy; whereas reliable and affordable energy supplies are essential for economic growth, industrial productivity and societal well-being;

B. whereas in the context of a general security crisis and the need for preparedness against defence challenges, securing energy supply constitutes a priority;

C. whereas despite the potential for developing domestic clean and renewable energy sources, the EU imports more than 60 % of its energy, including 90 % of its gas and 97 % of its oil [18], leaving it vulnerable to potential energy supply disruptions;

D. whereas the EU has the potential to develop renewable resources, and since the publication of the Commission’s last Energy Security Strategy in 2014, the production of home-grown renewable energy has grown substantially – wind power by 98 %, solar photovoltaic by 314 %, solar thermal by 22 % and ocean energy by 244 %; whereas, over the same period, the EU’s domestic fossil fuel production has declined, with coal production falling by 53 %, oil by 31 % and gas by 73 %;

E. whereas with a renewable energy-dominated grid, Europe will need to secure over 100 GW of new clean firm power capacity by 2035 to ensure reliability, energy security and lower costs [19];

F. whereas the gap between energy production and EU demand negatively affects the EU’s trade balance, with energy imports amounting to EUR 427 billion in 2024 – down from a peak of EUR 602 billion in 2022 – for coal, oil and gas [20];

G. whereas EU nuclear production has declined by 24 % since 2014 [21]; whereas a number of Member States are demonstrating their commitment to expanding nuclear energy as a pillar of their energy strategies and advancing their nuclear power projects;

H. whereas the diversification of energy sources contributes to the EU’s open strategic autonomy, energy security and resilience against external supply disruptions;

I. whereas applying renewable and clean domestic energy production, energy efficiency and energy saving measures across the entire value chain decreases reliance on external energy sources and enhances the security of energy supply; whereas EU energy efficiency policies have yielded structural results, with energy demand peaking in 2006 and declining by 20 % in 2023 [22], highlighting energy efficiency as the most cost-effective way to reduce emissions, enhance competitiveness, make energy consumption more affordable and improve energy security;

J. whereas Member States differ in terms of natural and geographical characteristics, energy supply, security, sources and policies;

K. whereas the Russian Federation has for decades weaponised its supplies of oil, coal, nuclear power and gas to the EU in order to create division among Member States and, since the summer of 2021, to fuel inflation and weaken Europe’s resolve to support Ukraine in its just fight for freedom; whereas Russia’s war against Ukraine started in 2014; whereas Russia has been carrying out an illegal, unprovoked and unjustified full-scale war of aggression against Ukraine since 24 February 2022; whereas Member States agreed in the Versailles Declaration [23] to reassess how to ensure the security of their energy supplies and to phase out their dependency on Russian gas, oil and coal imports ‘as soon as possible’ by, among other means, speeding up the development of renewables and the production of their key components and accelerating the reduction of overall EU reliance on fossil fuels, taking into account national circumstances and Member States’ energy mix choices; whereas the REPowerEU plan put forward a set of actions to stop importing Russian fossil fuels by 2027 at the latest;

L. whereas while most Russian oil and coal imports have been sanctioned, Russian gas and nuclear imports have regrettably remained outside of the EU’s sanctions regime amid concerns over security of supply;

M. whereas the share of Russian pipeline gas, both liquefied natural gas (LNG) and pipeline, in the EU’s total energy imports significantly decreased from 45 % in 2021 to approximately 19 % in 2024; whereas EU imports of Russian fossil fuels in the third year of the invasion have surpassed the EU financial aid sent to Ukraine in the same period (EUR 18.7 billion in 2024)[24]; whereas since the beginning of the war, Russia has earned a total of EUR 206 billion in revenue from fossil fuel exports to the EU; whereas global fossil fuel exports constitute the single largest source of revenue for Russia, amounting to EUR 250 billion per year [25] – equivalent to 160 % of the Russian military budget for this year [26];

N. whereas among the 100 reactors operating in the EU, 18 are located in five EU countries and are of Russian or Soviet-design, each with varying levels of built-in reliance on Rosatom, which poses a particular risk to European energy security; whereas in 2024, Russia met around 23 % of the EU’s total demand for uranium conversion services and 24 % for uranium enrichment services;

O. whereas Russia has been circumventing sanctions through its shadow fleet, which transports oil to willing buyers under false flags or without flags and which poses serious environmental risks; whereas Member States have yet to implement the effective measures adopted by the Council in the 15th sanctions package against sanctions evasion through the shadow fleet;

P. whereas in its November 2024 resolution, Parliament called for the EU and its Member States to ban all imports of Russian energy, including LNG and nuclear, to require that ships exporting LNG from Russia be banned from entering EU ports and to refrain from concluding any new agreements with Rosatom or its subsidiaries;

Q. whereas the absence of an updated robust EU energy security strategy is adversely affecting businesses, industries and households; whereas, among other contributing factors, this has led to a sharp rise in energy poverty with nearly one in ten households (10.6 %) unable to adequately heat their homes in 2023 [27], an increase from 6.9 % in 2021 [28];

R. whereas attacks against critical energy infrastructure can lead to a loss of power affecting several Member States simultaneously and substantial economic damage, undermine public security and have implications for the EU’s defence capabilities; whereas Europe’s energy sector has been inundated with cyberattacks since Russia’s invasion of Ukraine; whereas the Baltic Sea’s critical energy infrastructure is under regular attack from Russia; whereas the growing number of perimeter harassment incidents against offshore energy infrastructure poses a serious concern;

S. whereas NATO’s role in energy security was first defined at the 2008 Bucharest Summit and has since been strengthened; whereas NATO is strengthening the security of critical infrastructure to prevent sabotage, including through the recently launched Baltic Sentry initiative; whereas NATO is supporting national authorities in enhancing their resilience against energy supply disruptions that could affect national and collective defence;

T. whereas the integration of the Baltic states’ electricity systems into the continental European network in February 2025 was a critical step towards enhancing their energy security, as it eliminated reliance on the Russian-controlled grid, thereby reducing geopolitical vulnerabilities and strengthening the resilience of the Baltic region;

A new vision for energy security in a changing global landscape

1. Recalls that the European Environment Agency defines energy security as ‘the availability of energy at all times in various forms, in sufficient quantities, and at reasonable and/or affordable prices’; considers that a comprehensive approach to energy security should take into account the physical infrastructure dimension, the availability, reliability, stability and affordability of supplies and their sustainability, and should place emphasis on the geopolitical and climate dimensions;

2. Stresses that energy security is a cross-sectoral issue that underpins the functioning of all critical sectors, making it indispensable for economic stability, public safety and national resilience; underlines that integrating energy security considerations into relevant policies and their underlying impact assessments is crucial for enhancing the coherence, consistency and overall effectiveness of EU policymaking;

3. Emphasises that the current geopolitical situation and continued perilous energy supply dependencies underscore the need to revise the understanding of energy security and recognises that the resilience of energy systems, understood as the ability to anticipate, withstand, adapt to, and quickly recover from possible disruptions, is now a strategic imperative;

4. Stresses that as the energy system continues to decarbonise, the share of renewables increases and electrification advances, a well-functioning and integrated energy market, energy efficiency, the integration of flexibility sources (electricity and heat storage, hydrogen, comprehensively developed and resilient infrastructure, demand response, etc.), and sufficient dispatchable capacity will be crucial to successfully manage the intermittency of renewable energy sources and unlock the full potential of the energy transition;

5. Highlights that energy security cannot work without adequacy; notes that ‘the scarcity issues tend to shift from the peripheral areas of Europe in 2025 to the central parts of the continent by 2033’[29]; believes that capacity remuneration mechanisms play a structural role in securing dispatchable backup capacity to ensure adequacy during peak times or periods of supply shortages and in helping to incentivise the necessary investments in generating capacity that market signals, relying solely on infrequent scarcity price hours, may fail to justify; underlines the need to ensure that the mechanisms are open to different types of resources (such as demand side, energy savings, aggregation, storage units and cross-border resources) capable of providing the necessary services, such as flexibility, do not create undue market distortions or limit cross-zonal trade, and reflect compatibility with a future decarbonised electricity system, including through coherence with defined emission limits as set out in Article 22 of the EMD Regulation; recalls that remuneration for capacity mechanisms only covers their availability; stresses the urgent need to simplify and streamline their approval processes, as requested by the EMD revision, while giving due consideration to the specific problems of the electricity market in the respective Member States in the Commission’s approval process; notes the Commission report on the assessment of possibilities of streamlining and simplifying the process of applying a capacity mechanism [30] and the ongoing works on the Clean Industrial Deal State Aid Framework with concrete proposals to accelerate the approval process; notes that while the balancing market provides essential short-term services, it is not yet investment-friendly and calls therefore on the Commission to develop incentives to build the flexible assets that balancing markets urgently need;

6. Stresses that decarbonisation should take into account the specificities of Member States and their regions, including Europe’s outermost territories and Just Transition Fund regions and their level of access to different types of clean energy sources, the needs of their industries and the vulnerability of their citizens in order to ensure a just transition that maintains energy security by creating synergies between climate ambitions, geographical and natural conditions, and social and economic realities;

7. Notes the need for a broader approach to non-fossil flexibility and energy storage that incorporates molecules and heat; highlights the potential of district heating systems that can use thermal storage to reduce the temperature of the loop and incorporate waste heat, solar, geothermal and other renewable sources, where appropriate, using natural gas and biomass in a transition period; draws attention to the important role that the optimal use of high-efficiency cogeneration, in line with the Energy Efficiency Directive, can play in contributing to balancing the electricity grid and to the competitiveness of some industrial sectors, especially those that do not have alternative ways of producing affordable heat in their industrial processes; stresses the need to modernise and expand district heating grids to this end;

8. Emphasises that technological neutrality plays a key role in enhancing the security of energy supply while avoiding lock-in effects and fostering sustainability, economic efficiency and a just transition; recalls the need to invest in a diverse portfolio of clean technologies that allow regions to adopt technologies best suited to their needs in a cost-effective way, making energy more affordable and accessible;

9. Notes that the Draghi report [31] highlights that a reduction in dependency on fossil fuel imports would enhance EU competitiveness and the affordability and security of supply; notes that natural gas is currently a component of the EU’s energy security, with demand of 320 bcm in 2024, and notes the International Energy Agency (IEA) forecasts indicating a moderate demand of 260 bcm annually by 2035 [32], while a REpowerEU scenario projected a possible demand reduction of 184 bcm by 2030, implying an approximate 50 % slash in natural gas demand in less than five years, compared to demand of 356 bcm in 2022; recalls Draghi’s proposal to establish a comprehensive strategy for natural gas, managing its role during the transition and securing its supply, that should guide infrastructure choices, international partnerships and legislation; notes, with concern, that inconsistent policies on natural gas have weakened the trading position of EU companies, leaving them exposed to global spot market prices and potentially creating a gap between what the EU has contractually secured and what will be imported over time;

10. Stresses that the development of nuclear energy remains a national prerogative in the framework of EU law; notes that for the Member States that choose to have nuclear power in their energy mix, it can have an important role to play in an integrated energy system with increasing penetration of renewables; notes that a number of Member States see a need to support the development and deployment of both existing and a new generation of nuclear technologies, as well as the entire nuclear fuel cycle, that will contribute to building a competitive technological supply chain in the EU so as to ensure open strategic autonomy; stresses the importance of assessing the full cost of the entire nuclear energy life cycle, including construction, operation, security, environmental and health impacts, waste management and decommissioning; notes the existing and ongoing reliance on foreign providers, with approximately 97 % of the EU’s natural uranium supply in 2022 coming from oversea sources [33] and stresses the need to diversify uranium and nuclear fuel supply sources and to follow the Euratom Supply Agency’s recommendation in developing reliable supply chains to meet the growing demand for nuclear and new nuclear technologies; notes, in this regard, the European Investment Bank’s recent decision to renew its support for strengthening European uranium enrichment capacities; underlines that small modular reactors (SMRs) and advanced modular reactors (AMRs) have the potential to enhance energy security by providing low-carbon power; notes, however, that the technology is not yet fully developed; welcomes the announced assessment of the possibility of streamlining licensing practices for new nuclear energy technologies such as SMRs;

11. Recognises that renewable energy constitutes an enabler of energy autonomy and long-term security of supply; stresses that renewables are essential in delivering energy security as they already constitute the main source of home-grown energy for the EU; highlights the importance of maximising the use of existing renewable capacities, particularly by tackling the issue of curtailment, as grid congestion in the EU curtailed over 12 TWh of renewable electricity in 2023, resulting in an additional 4.2 million tons of CO₂ emissions [34]; notes that renewables have already helped to reduce EU dependence on Russian gas as they accounted for 25 % of the energy and 45 % of the electricity consumed in the EU in 2023; reaffirms the importance of sustained EU support for the development and deployment of established renewable technologies, such as solar, wind power, geothermal and heat pumps; reiterates the necessity of policy and investment support for less developed or emerging sectors in order to accelerate the deployment of renewable technologies that are the most relevant given their national and local circumstances, such as innovative geothermal technologies, biomethane, solar thermal, marine energy, tidal energy, osmotic energy and concentrated solar power; expresses concern that, without targeted support policies, some innovative technologies may fail to reach commercialisation in a timely manner, and therefore calls on the Member States to support their research, demonstration, market adoption and scale-up; calls on the Commission to present an investment plan for these renewable technologies;

12. Notes, in particular, the potential of geothermal energy, estimated to reach 510 GW by 2035 at a capacity factor of 80-90 %; highlights the vast untapped resources in certain EU regions and calls on the Commission to deliver on Parliament’s call to support the development of geothermal energy, including through the establishment of risk mitigation instruments;

13. Asks the IEA to conduct an analysis to assess the possibilities for using EU natural gas resources; notes that domestic EU natural gas production dropped by more than a third between 2020 and 2023 and that this decline is expected to continue with no significant near-term increase in the production of green gases, including biogas and biomethane, in the EU; notes that Draghi’s report highlights that while progressively decarbonising and moving to hydrogen and green gases in line with RED III and REPowerEU as a transitional measure, domestic natural gas production – where deemed justified by individual Member States – could also play a role in contributing to security of supply and avoiding exposure to negative geopolitical developments;

14. Highlights that diversification is vital to mitigate the risk of supplier dominance in a changing geopolitical context; believes the EU needs to strengthen international partnerships with reliable suppliers of energy, raw materials and clean-tech components in all regions of the world, and, in particular, with European Economic Area countries;

15. Underlines that enhancing energy security requires a holistic approach, notably through improving energy efficiency in key end-use energy sectors, such as buildings and industry, promoting energy savings, boosting investment in research and development, and ensuring meaningful citizen participation, all of which are essential to achieving a resilient, sustainable and inclusive energy system;

16. Calls on the Commission to be mindful of future military capability and mobility needs in the development of the EU’s energy system; notes, with concern, that the EU is highly import-dependent for crude oil and petroleum products; calls on the Commission to prepare a comprehensive strategy on liquid fuels in order to ensure their readily available access for the military in a crisis situation, and to reduce dependencies on vulnerable import chains and unreliable producers, particularly thorough the development of advanced synthetic fuels (such as sustainable aviation fuels and e-fuels) in Europe;

17. Draws attention to the Niinistö report’s recommendation on the need for further work on priority dual-use transport corridors for civilian and defence-related logistical needs, and on the expansion of fuel supply chains for the armed forces along these corridors, as well as stockpiling and strategic reserves of energy, that could be particularly useful for the regions with insufficiently developed pipeline infrastructure and fuel storage; calls, in this respect, on the Commission to review the Oil Stocks Directive in the light of recent geopolitical shifts and the military readiness needs in order to strengthen energy security and resilience against emerging military risks;

18. Acknowledges the rapidly accelerating energy demand driven by the digital sector, particularly the substantial energy requirements of data centres and artificial intelligence systems; stresses that this trend highlights the urgent need for robust energy efficiency policies and underscores the importance of the EU proactively pursuing sustainable, forward-looking solutions to meet this growing demand while safeguarding the resilience of its energy system;

A resilient energy infrastructure

19. Notes that infrastructure bottlenecks impede the benefits of sector integration and aggravate the threats to energy security; underlines the importance of investing in new energy networks, including cross-border interconnectors and offshore grids, and optimising existing infrastructure to increase capacity using grid-enhancing technologies (GETs) while reducing new infrastructure needs, in order to enable the integration of renewables and other new generation facilities, close price gaps, improve the overall system efficiency and foster solidarity among the Member States in the event of an energy crisis; emphasises the need for technically sound infrastructure planning that takes into account geographical and natural characteristics while ensuring long-term viability and avoiding the creation of stranded assets;

20. Calls on the Commission to urgently assess areas where interconnectors are insufficient so as to achieve the current 15 % interconnection target as set out in Regulation (EU) 2018/1999 [35]; stresses the importance of Projects of Common Interest (PCIs) in facilitating the efficient and secure flow of electricity across Member States and regions, thereby strengthening cross-border integration and energy solidarity within the EU; acknowledges the role of the Connecting Europe Facility for Energy (CEF-E) in completing the above investments and reiterates its call for its funding to be significantly increased when proposing the next multiannual financial framework;

21. Calls on the Member States to accelerate permitting procedures for electricity installations and networks; notes that excessively long permitting procedures could create legal uncertainty, undermining resource adequacy by delaying the implementation of critical projects – whether for repowering or revamping existing generation sites, or for developing transmission, distribution, or storage infrastructure; welcomes the positive progress made regarding provisions adopted in the latest revision of the Renewable Energy Directive and the Emergency Regulation on Permitting [36] to accelerate, streamline and simplify permit-granting procedures;

22. Recalls that climate change continues to worsen, placing increasing stress on the energy system due to extreme weather events, such as heat waves, that lead to thermal power plant shutdowns, droughts that reduce generation output, and severe storms, floods and fires that damage electricity grids and gas pipelines; stresses that the impact of climate change on generation assets, networks and consumption patterns should be better integrated into the modelling and preparedness of energy infrastructure; emphasises the need for resilient energy system planning, incorporating climate-adaptive strategies such as advanced cooling technologies, grid flexibility, decentralised renewable generation and strengthened infrastructure protections; highlights the importance of integrating a climate-proofing plan, grounded in an initial risk-based assessment, into energy projects from the earliest stages of development;

23. Calls on the Commission to build on Directive (EU) 2022/2557 [37] on the resilience of critical entities by facilitating its full and harmonised implementation through the provision of best practices, guidance materials and methodologies, and cross-border training activities and exercises to support Member States, competent authorities and critical energy entities;

24. Emphasises the need to invest in the protection and resilience of energy infrastructure against human-caused threats, such as military, hybrid and cyber attacks; expresses concern about recent sabotage incidents in the Baltic Sea and calls for stronger EU-level action to protect the EU’s critical energy infrastructure, including cross-border connections with non-EU countries, such as subsea pipelines and cables, offshore wind farms and interconnections, designed to support the most impacted Member States, and to complement national measures; welcomes, in this regard, the joint communication on the EU Action Plan on Cable Security;

25. Notes that the decentralisation of the energy system, that both strengthens resilience and facilitates the energy transition, and increased diversity of sources and autonomy, reduce reliance on centralised power plants, minimise outage risks, enhance grid stability, and enable quicker recovery from disruptions; emphasises at the same time that the increased number of remote and dispersed sources of energy, energy storage and new connections require enhanced measures to ensure robust infrastructure protection;

26. Calls on the Commission to draw on the lessons learned from the war in Ukraine, particularly the critical role of electricity interconnection, microgrids, distributed solar power, wind power and battery storage in ensuring greater resilience of the electricity grid against military attacks, including cyberattacks, drones and missiles; commends Ukraine’s sustained efforts to maintain the functionality and safety of its energy system in the face of Russia’s war of aggression, and underscores that supporting Ukraine also entails helping to safeguard the soundness of its national electrical grid;

27. Notes, with concern, that small distributed energy resources (DERs) connected to the internet, such as inverters, are not covered by appropriate conformity assessment procedures under cybersecurity legislation, such as the Cyber Resilience Act [38], and since they can be remotely controlled and their software updated by the manufacturer, which, in many cases, are non-trusted vendors, they could give these non-trusted vendors control over EU electricity grids; urges the Commission to establish mandatory risk assessments for DERs based on the country of origin, ensuring that devices controlled from jurisdictions with potential security concerns are subject to strict oversight and localisation requirements; calls for enhanced resilience in European supply chains by promoting EU-based manufacturing of DERs and fostering alliances with trusted international partners; highlights the need for an adequate number of professionals specialised in cybersecurity and close coordination among Member States to address these vulnerabilities;

28. Calls on energy companies that manage critical infrastructure to work closely with the EU Agency for Cybersecurity and equip themselves with the most advanced cybersecurity tools; considers that cooperation with NATO in the field of cybersecurity should be strengthened in order to counter hybrid threats to Europe’s energy security;

29. Notes that the Member States need to do their utmost to increase their resilience, which encompasses the ability to prevent, protect against, respond to, resist, mitigate, absorb, accommodate and recover from incidents, taking into full account the interdependence of the EU energy market and the potential domino effect that infrastructure failures in one country may have across the Union; underlines, in particular, the need to strengthen the recovery aspect, which could be achieved through an efficient European repair and response mechanism and national and regional operational plans, which could serve as an important element of the EU’s deterrence strategy; notes the importance of EU solidarity in responding to potential infrastructure incidents, ensuring coordinated action and mutual support among Member States;

30. Recalls that energy infrastructure constitutes a particularly sensitive sector in need of protection against foreign interests; urges the Member States and the Commission to address security risks associated with foreign investment in and acquisitions of energy infrastructure; expresses concern about a series of potentially sensitive foreign investments, particularly in grids; welcomes, in this regard, the ongoing revision of the Foreign Investment Screening Regulation [39] as a timely step towards adopting a stringent strategic approach to the development and oversight of European energy infrastructure;

31. Stresses that energy security should include the supply of key clean technologies, components and critical raw materials and notes the need for their diversified sourcing; calls for increased support for the EU’s grid manufacturing industry as a strategic pillar of the energy transition, with particular emphasis on ensuring a fair and competitive regulatory environment for European manufacturers, while exploring the potential for local content requirements to strengthen energy security, supply chain resilience and industrial competitiveness; calls for an update of the Public Procurement Framework to simplify and reduce the administrative burden for grid operators to access the needed grid technologies;

32. Emphasises the importance of integrating circularity principles into the design of critical infrastructure and equipment, and calls for increased support for their implementation, with the goal of reducing the EU’s dependence on imports of foreign raw materials and enhancing resource efficiency;

Phase out of Russian energy supplies

33. Highlights that the challenges posed by a lack of solidarity in the EU and by some Member States prioritising particular interests have made the whole continent aware of the dangers of dependence on an unreliable energy supplier weaponising energy exports; underlines that the lessons learned from Russia’s war of aggression against Ukraine need to be at the core of future EU actions, particularly highlighting the critical importance of a united European response in order to eliminate perilous dependencies in energy supplies;

34. Underlines that the EU has made advances in reducing its energy dependence thanks largely to the REPowerEU plan and the 16 sanctions packages, leading to a decline in imports of Russian gas (pipeline and LNG) from 45 % of total EU gas imports in 2021 to 19 % as of 2024;

35. Expresses deep concern that the EU still maintains its reliance on Russian gas and, moreover, has recently seen an increase, with imports rising by 18 % in 2024 and continuing to grow in 2025 [40]; notes that in 2024 alone, Member States purchased an estimated EUR 7 billion worth of Russian LNG, and since Russia’s invasion of Ukraine, the EU has imported EUR 200 billion worth of Russian oil and gas – totally [41] fuelling Russia’s war machine;

36. Welcomes the publication of a roadmap for phasing out Russian energy imports, which must pave the way for their definitive end as soon as possible;

37. Welcomes the stepwise prohibition of Russian gas imports proposed by the Commission; stresses the need to introduce an EU-wide ban on all Russian natural gas imports by 2027 at the latest, and on new contracts and existing spot contracts by the end of 2025; insists that the Member States, including those currently benefiting from targeted derogations for Russian oil imports, should ultimately phase out these imports by 2027 at the latest; welcomes the upcoming legislative proposals in this regard and calls on the Commission to explore the use of all available transitional instruments that could lead to the end of Russian fossil fuel imports by 2027, such as the introduction of a regular quota system for Russian gas imports into the EU and the introduction of a ceiling price for Russian LNG, following an assessment of market and price impacts; calls on the Commission to provide EU companies with effective and legally sound toolkits to facilitate their efforts to get out of long-term contracts with Russian suppliers without incurring penalties;

38. Calls on the Member States to include gas deliveries to the EU from the Yamal LNG and Arctic LNG 2 terminals in the scope of EU sanctions and the respective sanctioning of the singular fleet of ice-class LNG carriers linked to the Yamal LNG project; notes that sanctioning LNG carriers would be highly effective, as there is a limited number of ice-class LNG carriers in the world; stresses that the above actions would require adequate assessments of the legal and economic impacts on the European companies concerned and to ensure their ability to exit contracts;

39. Commends the inclusion of the nuclear supply chain in the roadmap; notes, with concern, that Russian nuclear fuel remains present in the EU market, including through indirect supply chains, and that in 2023, 23.5 % of the uranium consumed in the EU came from Russia and 30.1 % of the uranium used in the EU’s nuclear fleet was enriched by Russia; notes that while domestic providers are ramping up capacity in their European facilities to meet increased demand, as utilities proactively move away from Russian supply, clear policy decisions are urgently required at EU and national level to address the above vulnerabilities in the nuclear supply chain; calls therefore for support for projects within the Union that contribute to greater autonomy and security of nuclear fuel supply;

40. Expresses concern that official data does not provide a complete picture of Russian energy imports and their final destination, as relabelled Russian oil and gas continue to enter the EU market; notes with regret that this, in some cases, occurs with the acquiescence of the state actors involved;

41. Agrees that an adequate assessment of the amount of Russian energy imports is a prerequisite for phasing out this dependence; regrets the continued whitewashing of Russian energy imports and stresses the need for greater transparency in the EU energy market; calls on the Member States to publish data on the origin of imported, exported and consumed Russian gas, and urges the application of all measures against the whitewashing of Russian energy imports; notes that relevant reporting obligations laid down under Regulation (EU) 2024/1787 on methane emissions reduction in the energy sector can contribute to achieving this goal;

42. Welcomes the upcoming proposals for transparency, monitoring and traceability mechanisms, as the effective implementation of sanctions depends on compatible control mechanisms in all Member States; underscores the urgent need to develop a legal mechanism to ensure the transparency and traceability of natural gas originating in Russia and exported to the EU as liquefied natural gas and by pipeline, and eventually to cover oil imports; stresses that this mechanism should be extended to energy imports from other destinations in the future; considers that the mechanism would require cooperation between various services, including EU competition services, the Agency for the Cooperation of Energy Regulators (ACER) and national customs authorities; asks the Member States to consider strengthening the criminal investigation powers of national customs authorities to ensure the effectiveness of the above mechanism and introducing sufficient deterrent measures and fines, such as adequate financial penalties for sanctions evasion;

43. Stresses the need to adopt a legal framework for diversification, requiring each Member State to prepare, in a coordinated manner and through the appropriate competent authorities, an exit plan for Russian energy sources and to support and oversee the preparation and implementation of specialised exit plans at the level of undertakings active in their respective energy sectors; considers that these plans should include domestic production and demand reduction dimensions;

44. Strongly condemns the calls for a return to Russian energy imports as part of the peace settlement in Ukraine; firmly rejects the idea of the possible certification of the Nord Stream 2 pipeline and insists on the complete decommissioning of Nord Stream pipelines; warns against the EU falling back into dependency on an unreliable supplier and calls on the Commission and the Member States to develop safeguards against this, such as a countersignature by the Commission on any potential contracts with Russia or the mandatory use of the AggregateEU platform for this type of purchase;

45. Recalls that energy is a fundamental necessity; emphasises that the phase out of Russian energy imports must be a collective effort, ensuring that no Member State, company or household is left behind; emphasises that Member States are not equally positioned to phase out Russian energy imports in the same manner, and therefore urges strong solidarity among them, alongside appropriate support measures from the Commission to ensure a fair and coordinated transition;

46. Notes that, in the near-term, there is the need to replace phased out Russian energy imports with reliable non-EU sources and urges the Commission therefore to propose measures that ensure their sufficient substitution from trusted partners; stresses, however, that Russian energy supplies should not be replaced by new dependencies in supplies, and therefore that, in the long term, energy imports should be progressively reduced through effective measures to support decarbonisation, electrification and energy efficiency and savings in the sectors where it is possible and cost-efficient, as well as through the development of domestic energy production in line with the REPowerEU plan;

47. Emphasises that energy dependence on Russia also should not be replaced by new dependencies on individual suppliers of energy technologies, components or critical raw materials;

Revision of security of supply framework

48. Welcomes the upcoming revision of the Security of Supply architecture including the Gas Security of Supply Regulation and the Electricity Risk Preparedness Regulation, and other relevant legislation; considers that the new EU security of supply architecture should reflect such fundamental shifts as increasing cross-sectoral integration of the energy system, the new geopolitical landscape, the profound changes in supply routes, the impact of climate change, as well as changes in the maturity of energy technologies reflected in shifts of levelised costs of energy and the opportunities this presents for the energy transition;

49. Highlights that energy efficiency plays a critical role in enhancing the security of energy supply by reducing overall energy demand, lowering dependency on energy imports and increasing system resilience; considers that the new security of supply framework should be broadened to reflect a new way of looking at the security of energy supply, based not only on energy sources, but also on the energy efficiency first principle, energy savings, cost efficiency, as well as the ability to produce different types of energy domestically; notes that, in the near-term, the Union should concentrate on effective and solid weaning of Russian energy imports without loopholes, including through securing alternatives supplies from reliable partners and better use of existing infrastructure, while in parallel continuing to develop domestic alternatives to imported energy products, where possible; stresses, nevertheless, the imperative to develop a future-proof security of supply architecture that systematically reduces dependence on external actors, notably by advancing energy efficiency, promoting energy savings, enhancing circularity and ensuring the sustained growth of home-grown clean energy production and well-protected decentralised energy infrastructure;

50. Emphasises the need to prioritise the resilience of energy infrastructure, drawing on the lessons learned from Russia’s war of aggression against Ukraine, the targeted attacks on its energy systems and the benefits of decentralised energy systems; considers that new energy assets should be ‘resilient by design’, including to possible military threats and extreme weather events;

51. Stresses the need for greater cooperation among all actors on the resilience of energy infrastructure to both climate impacts and human-caused threats; insists that the protection of this infrastructure requires greater involvement of governments, including through public-private partnerships; welcomes, in this regard, the Niinistö report recommendation to engage with the private sector in institutionalising de-risking efforts, cross-sector stress tests and proactive security measures; asks the Commission to ensure that such cooperation is reflected in plans covering incident management and recovery, and is subject to regular exercises; notes that the Union’s preparedness strategy includes actions to strengthen public-private partnerships and calls on the Commission to further develop relevant specific measures for the energy sector in the review of the security of supply architecture;

52. Notes the need to accommodate in the security of supply architecture the integration of renewable and low-carbon gases, such as biomethane and hydrogen; recalls that the Hydrogen Strategy already recognised the role that renewable and low-carbon hydrogen production can play in providing flexibility and storage in an integrated energy system with a high share of renewables; calls on the Commission to recognise the complementarities between hydrogen and electricity in the future Electrification Action Plan, in line with energy sector integration, and to set clear conditions for the ramp-up of hydrogen to contribute to the energy transition, particularly in hard-to-abate sectors;

53. Stresses the need to include affordability risks in national risk assessments; calls for transparency on the implementation of national risk-preparedness measures to increase trust between the Member States; notes the advantages of greater coherence on protected consumer categories (consistent categories and gradation of disconnection priority for grid users) to allow coordinated consumer load-shedding plans to be defined, including plans to support vulnerable households affected by, or at risk of, energy poverty during an energy crisis;

54. Highlights the need for a unified, resilient and strategically coordinated energy policy; emphasises that as the EU energy markets become more integrated, energy security is increasingly becoming a shared responsibility of the Member States, thus requiring solidarity and coordination in order to prevent unilateral actions that could undermine the security of the entire EU; warns that a unilateral decision by a single actor to enter into a harmful energy agreement with a non-EU country could expose the whole EU to renewed energy crises, price volatility and geopolitical pressure;

55. Notes the need for stronger coordination between the Member States on the decommissioning of ageing generation units with cross-border impact, as well as on withdrawal from the system of generation capacity in order to ensure that alternative installations have been completed and are in operation, as this affects the availability and affordability of energy in neighbouring countries;

56. Underlines that data-driven technologies should positively impact energy security management; recognises the importance of comprehensive energy information and data in identifying and responding to evolving energy security threats and in infrastructure planning, and calls for improved coordination in the collection of such information and data;

57. Calls on the Commission to include in the security of supply proposal technical provisions for the standardisation and interoperability of critical components of the EU’s energy system, particularly electrical transformers, to ensure that a lack of standardisation does not hinder European solidarity;

58. Welcomes the establishment by the European Network of Transmission System Operators for Electricity (ENTSO-E) of a new Task Force on the Security of Critical Infrastructure, aimed at analysing and proposing recommendations on the topic of security of critical infrastructure; stresses the importance of incorporating lessons learned from Ukraine’s experience, including the valuable expertise of the dedicated unit within the Ukrainian Transmission System Operator (TSO) tasked with identifying and mitigating threats to critical infrastructure; calls on the Commission to collaborate closely with ENTSO-E in delivering a comprehensive and systemic assessment of threats to the EU electricity grid, to be completed by 2026;

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59. Instructs its President to forward this resolution to the Council and the Commission.

MIL OSI Europe News –

July 1, 2025
MIL-OSI Europe: Written question – Inclusion of persons with disabilities in the development and regulation of artificial intelligence and emerging technologies – E-002430/2025
Source: European Parliament
Question for written answer E-002430/2025
to the Commission
Rule 144
Ioan-Rareş Bogdan (PPE)

The rapid development and deployment of artificial intelligence (AI) and digital technologies bring significant opportunities for innovation, including in the field of assistive technologies for persons with disabilities. However, these developments also present serious risks, including digital exclusion, algorithmic discrimination and a lack of accessibility in AI-powered services. Moreover, many AI systems lack the necessary safeguards to ensure non-discrimination, accessibility and transparency for persons with disabilities.

1.How is the Commission ensuring the active involvement of persons with disabilities and organisations representing them in the development, deployment and oversight of AI and emerging technologies?

2.What concrete measures are being taken to ensure that AI systems, including those developed or deployed by public authorities, are accessible and do not perpetuate bias or discrimination against persons with disabilities?

3.Are there plans to dedicate specific EU funding or innovation programmes to supporting inclusive, accessible AI that empowers persons with disabilities?

Submitted: 17.6.2025
Last updated: 30 June 2025
MIL OSI Europe News –
July 1, 2025
MIL-OSI Europe: Written question – Inclusion of persons with disabilities in the development and regulation of artificial intelligence and emerging technologies – E-002430/2025
Source: European Parliament
Question for written answer E-002430/2025
to the Commission
Rule 144
Ioan-Rareş Bogdan (PPE)

The rapid development and deployment of artificial intelligence (AI) and digital technologies bring significant opportunities for innovation, including in the field of assistive technologies for persons with disabilities. However, these developments also present serious risks, including digital exclusion, algorithmic discrimination and a lack of accessibility in AI-powered services. Moreover, many AI systems lack the necessary safeguards to ensure non-discrimination, accessibility and transparency for persons with disabilities.

1.How is the Commission ensuring the active involvement of persons with disabilities and organisations representing them in the development, deployment and oversight of AI and emerging technologies?

2.What concrete measures are being taken to ensure that AI systems, including those developed or deployed by public authorities, are accessible and do not perpetuate bias or discrimination against persons with disabilities?

3.Are there plans to dedicate specific EU funding or innovation programmes to supporting inclusive, accessible AI that empowers persons with disabilities?

Submitted: 17.6.2025
Last updated: 30 June 2025
MIL OSI Europe News –
July 1, 2025
MIL-OSI Europe: Answer to a written question – Inquiry on DSA enforcement: TikTok’s algorithm and disinformation in Romania – P-001961/2025(ASW)
Source: European Parliament
The organisation and conduct of elections are the competence and responsibility of the Member States, in accordance with their national constitutional rules and legislation, as well as their international obligations and applicable EU law. National authorities and courts are primarily responsible for ensuring compliance with the applicable rules.

With regards to the Romanian elections of May 2025, the Commission has been closely following relevant developments regarding the obligations under the Digital Services Act (DSA), and has been in frequent contact with national authorities, non-governmental organisations and Very Large Online Platforms and Search Engines.

At the request of the Digital Services Coordinator, the Commission also supported the organisation of a roundtable and a tabletop Exercise with the above stakeholders to ensure election preparedness for the new round of elections.

In response to the formal initiation of proceedings 17 December 2024under the DSA[1] TikTok has made a number of changes to its systems and processes, including access to platform data, improving political account labelling, designing tools for users to manage content recommendations, and reinforcing internal resources, in particular in their election task force working on covert influence campaigns and advertising integrity.

The investigation is ongoing: and the Commission continues to gather and analyse evidence, as well as assess TikTok’s changes.

[1] Commission opens formal proceedings against TikTok on election risks under the Digital Services Act — https://ec.europa.eu/commission/presscorner/detail/en/ip_24_6487.
Last updated: 30 June 2025
MIL OSI Europe News –
July 1, 2025
MIL-OSI Europe: Answer to a written question – The wreck of the ‘Sea Diamond’ on the seabed of Santorini for 18 years as toxic waste – E-001879/2025(ASW)
Source: European Parliament
The Commission carried out an informal dialogue with Greek authorities and assessed the study of the Technical University of Crete and the report of the Hellenic Centre for Marine Research of 2012[1] in order to verify compliance with the Waste Framework Directive[2] as interpreted by the Court of Justice of the EU in Case C-135/05[3].

The Commission concluded that based on the available evidence[4] regarding the reports and actions already taken by the Greek authorities after the accident (impact study on pollution, continuous monitoring of the zone affected, etc.), no breach of EU law could be established.

However, the Commission also informed the Greek authorities that they should remain vigilant as the adverse effects of the shipwreck could be revealed after a prolonged period of time.

The Commission is not aware of any judicial expert opinions from 2019 and 2020 quoted by the Honourable Member.

Member States have a primary responsibility to monitor the application of the relevant legal provisions and to take the necessary steps for enforcement. In its role as guardian of the Treaties, the Commission will continue monitoring the situation and may decide to take appropriate action.

The Commission aims to swiftly follow up on systemic issues involving the application of EU law in EU countries. However, one-off instances are better dealt with at national level, as long as there are available remedies, including judicial ones. In these cases, it is up to the national courts to apply and enforce citizens’ rights under EU law.

Should new elements arise, including pollution of the area, national courts are competent to verify the adequacy of the measures implemented by the Greek authorities with national and EU legislation.

[1] Report entitled ‘Μελέτη των επιπτώσεων της ρύπανσης που προκλήθηκε από το ατύχημα του κρουαζιερόπλοιου “Sea Diamond” στον όρμο Αθηνιος της Νήσου Θήρας » transmitted to the Commission by the Greek authorities.

[2] Directive 2008/98/EC of the European Parliament and of the Council of 19 November 2008 on waste and repealing certain Directives, OJ L 312, 22.11.2008, p. 3-30, as amended by Directive (EU) 2018/851 of the European Parliament and of the Council of 30 May, OJ L 150, 14.6.2018, p. 109-140.

[3] https://curia.europa.eu/juris/liste.jsf?language=en&num=c-135/05.

[4] i.e. absence of clear-cut evidence of the deterioration of the marine environment.
Last updated: 30 June 2025
MIL OSI Europe News –
July 1, 2025
MIL-OSI Europe: Answer to a written question – Request for clarification concerning France’s possible interference in the 2025 Romanian presidential election – P-002053/2025(ASW)
Source: European Parliament
The organisation and conduct of elections are the competence and responsibility of the Member States, in accordance with their national constitutional rules and legislation, as well as their international obligations and applicable EU law. National authorities and courts are primarily responsible for ensuring compliance with the applicable rules.

On 22 May 2025, the Romanian’s Constitutional Court formally validated the outcome of the 2025 Romanian Presidential elections.

The Commission does not intervene in the organisation and conduct of elections.

The Commission supports Member States on electoral matters, mainly through the framework of the European cooperation network on elections[1], which hosts exchanges among competent authorities, for instance on good practices to support turnout.

The Commission is also working with Member States to support the application of EU law provisions relevant in national electoral contexts, such as those in the Digital Services Act[2], the regulation 2024/900 on the transparency and targeting of political advertising[3] (which will apply in full from October 2025), the General Data Protection Regulation[4] and the Artificial Intelligence Act[5].

These measures help ensure fundamental rights, including data protection, freedom of expression and information.

[1] https://commission.europa.eu/strategy-and-policy/policies/justice-and-fundamental-rights/democracy-eu-citizenship-anti-corruption/democracy-and-electoral-rights/european-cooperation-network-elections_en.

[2] https://eur-lex.europa.eu/legal-content/EN/TXT/?uri=CELEX%3A32022R2065. In 2024, the Commission issued Guidelines for providers of Very Large Online Platforms and Very Large Online Search Engines on the mitigation of systemic risks for electoral processes, https://eur-lex.europa.eu/legal-content/EN/TXT/?uri=CELEX%3A52024XC03014&qid=1714466886277.

[3] https://eur-lex.europa.eu/eli/reg/2024/900/oj/eng.

[4] https://eur-lex.europa.eu/eli/reg/2016/679/oj/eng.

[5] https://eur-lex.europa.eu/eli/reg/2024/1689/oj/eng.
Last updated: 30 June 2025
MIL OSI Europe News –
July 1, 2025
MIL-OSI: Lightchain AI Positions Itself as the First Layer-One Where AI Logic Actually Lives and Breathes On-Chain

Source: GlobeNewswire (MIL-OSI)

SHREWSBURY, United Kingdom, June 30, 2025 (GLOBE NEWSWIRE) — Lightchain AI positions itself as the first Layer-One blockchain where AI logic truly lives and breathes on-chain. Having completed all 15 presale stages and launched its Bonus Round at a fixed price of $0.007, Lightchain AI has raised $21.2 million from committed buyers and builders.

Central to its innovation is a fully functional AI-native Virtual Machine, designed to execute complex AI tasks seamlessly within the blockchain environment. Coupled with transparent governance and developer incentives, Lightchain AI is not just promising AI integration—it’s delivering a dynamic, scalable platform that enables decentralized intelligence to thrive and evolve directly on-chain.

Emergence of AI-Integrated Layer-One Blockchains

The integration of artificial intelligence (AI) technology into layer-one blockchains is a relatively new concept, but one that has the potential to revolutionize the blockchain industry. By combining AI and blockchain technology, developers are now able to create more powerful and efficient decentralized systems.

One of the leading projects in this space is Lightchain AI. This innovative platform aims to solve many of the challenges faced by traditional blockchains, such as scalability and high transaction costs, while also bringing advanced AI capabilities to the table.

Lightchain AI Brings AI Logic Fully On-Chain for Real-Time Processing

Lightchain AI is revolutionizing blockchain technology by embedding artificial intelligence directly into its core infrastructure, enabling real-time, on-chain processing of AI tasks. Central to this innovation is the Artificial Intelligence Virtual Machine (AIVM), which facilitates the execution of complex AI computations—such as model training and inference—within a decentralized environment .

The AIVM’s architecture supports parallel processing and is compatible with popular AI frameworks like TensorFlow and PyTorch, ensuring scalability and efficiency . To maintain data privacy and security, Lightchain AI integrates advanced cryptographic techniques, including zero-knowledge proofs and homomorphic encryption .

This seamless fusion of AI and blockchain positions Lightchain AI as a transformative platform for developing intelligent, decentralized applications across various industries.

How Lightchain AI is Revolutionizing Intelligent Blockchain Networks

Lightchain AI is redefining the future of blockchain by fusing cutting-edge AI with decentralized infrastructure. Imagine a network where advanced AI tasks run seamlessly in real time, thanks to low latency and high throughput. With a transparent governance framework, the power is truly in the hands of the community, ensuring fairness and collaboration at every step.

But that’s not all—Lightchain’s gas optimization and sharding technologies make it scalable, cost-effective, and ready for a wide range of applications. Add in privacy-preserving AI workflows, cross-chain interoperability, and robust developer support with grants and tools, and you’ve got a platform that’s raising the bar for blockchain ecosystems.

Lightchain AI isn’t just building technology; it’s paving the way for smarter, more secure, and efficient blockchain solutions that are set to transform industries and drive innovation.

https://lightchain.ai

https://lightchain.ai/lightchain-whitepaper.pdf

https://x.com/LightchainAI

https://t.me/LightchainProtocol

Contact:
SHAJAN SKARIA
media@lightchain.ai

Disclaimer: This content is provided by Lightchain AI. The statements, views, and opinions expressed in this content are solely those of the content provider and do not necessarily reflect the views of this media platform or its publisher. We do not endorse, verify, or guarantee the accuracy, completeness, or reliability of any information presented. We do not guarantee any claims, statements, or promises made in this article. This content is for informational purposes only and should not be considered financial, investment, or trading advice. Investing in crypto and mining-related opportunities involves significant risks, including the potential loss of capital. It is possible to lose all your capital. These products may not be suitable for everyone, and you should ensure that you understand the risks involved. Seek independent advice if necessary. Speculate only with funds that you can afford to lose. Readers are strongly encouraged to conduct their own research and consult with a qualified financial advisor before making any investment decisions. However, due to the inherently speculative nature of the blockchain sector—including cryptocurrency, NFTs, and mining—complete accuracy cannot always be guaranteed. Neither the media platform nor the publisher shall be held responsible for any fraudulent activities, misrepresentations, or financial losses arising from the content of this press release. In the event of any legal claims or charges against this article, we accept no liability or responsibility. Globenewswire does not endorse any content on this page.

Legal Disclaimer: This media platform provides the content of this article on an “as-is” basis, without any warranties or representations of any kind, express or implied. We assume no responsibility for any inaccuracies, errors, or omissions. We do not assume any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information presented herein. Any concerns, complaints, or copyright issues related to this article should be directed to the content provider mentioned above.

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/e1c4fb3f-3522-4f8e-a114-822447c5c411

The MIL Network –

July 1, 2025
MIL-OSI: Lightchain AI Positions Itself as the First Layer-One Where AI Logic Actually Lives and Breathes On-Chain

Source: GlobeNewswire (MIL-OSI)

SHREWSBURY, United Kingdom, June 30, 2025 (GLOBE NEWSWIRE) — Lightchain AI positions itself as the first Layer-One blockchain where AI logic truly lives and breathes on-chain. Having completed all 15 presale stages and launched its Bonus Round at a fixed price of $0.007, Lightchain AI has raised $21.2 million from committed buyers and builders.

Central to its innovation is a fully functional AI-native Virtual Machine, designed to execute complex AI tasks seamlessly within the blockchain environment. Coupled with transparent governance and developer incentives, Lightchain AI is not just promising AI integration—it’s delivering a dynamic, scalable platform that enables decentralized intelligence to thrive and evolve directly on-chain.

Emergence of AI-Integrated Layer-One Blockchains

The integration of artificial intelligence (AI) technology into layer-one blockchains is a relatively new concept, but one that has the potential to revolutionize the blockchain industry. By combining AI and blockchain technology, developers are now able to create more powerful and efficient decentralized systems.

One of the leading projects in this space is Lightchain AI. This innovative platform aims to solve many of the challenges faced by traditional blockchains, such as scalability and high transaction costs, while also bringing advanced AI capabilities to the table.

Lightchain AI Brings AI Logic Fully On-Chain for Real-Time Processing

Lightchain AI is revolutionizing blockchain technology by embedding artificial intelligence directly into its core infrastructure, enabling real-time, on-chain processing of AI tasks. Central to this innovation is the Artificial Intelligence Virtual Machine (AIVM), which facilitates the execution of complex AI computations—such as model training and inference—within a decentralized environment .

The AIVM’s architecture supports parallel processing and is compatible with popular AI frameworks like TensorFlow and PyTorch, ensuring scalability and efficiency . To maintain data privacy and security, Lightchain AI integrates advanced cryptographic techniques, including zero-knowledge proofs and homomorphic encryption .

This seamless fusion of AI and blockchain positions Lightchain AI as a transformative platform for developing intelligent, decentralized applications across various industries.

How Lightchain AI is Revolutionizing Intelligent Blockchain Networks

Lightchain AI is redefining the future of blockchain by fusing cutting-edge AI with decentralized infrastructure. Imagine a network where advanced AI tasks run seamlessly in real time, thanks to low latency and high throughput. With a transparent governance framework, the power is truly in the hands of the community, ensuring fairness and collaboration at every step.

But that’s not all—Lightchain’s gas optimization and sharding technologies make it scalable, cost-effective, and ready for a wide range of applications. Add in privacy-preserving AI workflows, cross-chain interoperability, and robust developer support with grants and tools, and you’ve got a platform that’s raising the bar for blockchain ecosystems.

Lightchain AI isn’t just building technology; it’s paving the way for smarter, more secure, and efficient blockchain solutions that are set to transform industries and drive innovation.

https://lightchain.ai

https://lightchain.ai/lightchain-whitepaper.pdf

https://x.com/LightchainAI

https://t.me/LightchainProtocol

Contact:
SHAJAN SKARIA
media@lightchain.ai

Disclaimer: This content is provided by Lightchain AI. The statements, views, and opinions expressed in this content are solely those of the content provider and do not necessarily reflect the views of this media platform or its publisher. We do not endorse, verify, or guarantee the accuracy, completeness, or reliability of any information presented. We do not guarantee any claims, statements, or promises made in this article. This content is for informational purposes only and should not be considered financial, investment, or trading advice. Investing in crypto and mining-related opportunities involves significant risks, including the potential loss of capital. It is possible to lose all your capital. These products may not be suitable for everyone, and you should ensure that you understand the risks involved. Seek independent advice if necessary. Speculate only with funds that you can afford to lose. Readers are strongly encouraged to conduct their own research and consult with a qualified financial advisor before making any investment decisions. However, due to the inherently speculative nature of the blockchain sector—including cryptocurrency, NFTs, and mining—complete accuracy cannot always be guaranteed. Neither the media platform nor the publisher shall be held responsible for any fraudulent activities, misrepresentations, or financial losses arising from the content of this press release. In the event of any legal claims or charges against this article, we accept no liability or responsibility. Globenewswire does not endorse any content on this page.

Legal Disclaimer: This media platform provides the content of this article on an “as-is” basis, without any warranties or representations of any kind, express or implied. We assume no responsibility for any inaccuracies, errors, or omissions. We do not assume any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information presented herein. Any concerns, complaints, or copyright issues related to this article should be directed to the content provider mentioned above.

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/e1c4fb3f-3522-4f8e-a114-822447c5c411

The MIL Network –

July 1, 2025
MIL-OSI Europe: Written question – The Digital Services Act and Google Overview – E-002492/2025

Source: European Parliament

Question for written answer E-002492/2025
to the Commission
Rule 144
Christel Schaldemose (S&D), Stine Bosse (Renew)

Google has launched its new AI Overview. This means that Google itself decides what is displayed when people do Google searches.

Google controls critical infrastructure and flows of information.

The media depends on Search traffic, and that traffic will be drastically reduced by AI Overview, which gives the user a full answer. What’s more, Google can design/manipulate its answers as it sees fit, thereby directly influencing children, young people and citizens in general, and promoting its own narratives. Studies show that chatbots have shifted to the right since January 2025.

What is the Commission’s view on this, and is it in line with the Digital Services Act?

Submitted: 20.6.2025

Last updated: 30 June 2025

MIL OSI Europe News –

July 1, 2025
MIL-OSI Europe: Latest news – Meeting of 3 July 2025, Brussels – Delegation for relations with the countries of South Asia
Source: European Parliament

The next South Asia Delegation (DSAS) meeting will take place on Thursday, 3 July 2025, 9.30-11.00 in Brussels. This meeting will be a dedicated to an exchange of views on latest developments in the Maldives with the participation of:
- Mr Charles WHITELEY, Head of Division, Asia and Pacific (POL.ASIAPAC.6), European External Action Service (EEAS)
- H.E. Ms Ali GEELA, Ambassador of the Republic of Maldives to the Kingdom of Belgium and Head of Mission to the European Union
- H.E. Ms. Aminath SHAUNA, former Minister of Environment, Climate Change and Technology of the Maldive
- Mr Mickail NASEEM, Member of the Majlis, Maldivian Democratic Party (MDP)
The meeting will be held in camera.
MIL OSI Europe News –
July 1, 2025
MIL-OSI Europe: Answer to a written question – Assistance to Eastern Neighbourhood countries following the loss of USAID funding – E-001472/2025(ASW)

Source: European Parliament

The EU continues to monitor the impacts of the termination of the United States Agency for International Development (USAID)’s programmes as well as the US wider international support.

The EU will also continue coordinating efforts on identifying and, where possible, meeting the most acute needs and key priorities in the region, including in Ukraine and Moldova .

Regarding Ukraine, the impact has been significant in several areas including energy, capacity gaps in key institutions (where US-embedded experts were common), civil society and media, as well as social sectors (veterans’ mental health and psycho-social support, and economic reintegration).

In Moldova, USAID programmes covered sectors such as justice, energy security, support to independent media, civil society and election monitoring.

The EU will continue to support Moldova in these sectors with the aim to ensure there are no gaps for key priorities, notably for vetting and justice reform as well as energy security.

The EU humanitarian funding for Ukraine and Moldova currently stands at EUR 1.214 billion (EUR 1.13 billion for Ukraine and EUR 84 million for Moldova) since February 2022.

The EU will continue its humanitarian and emergency assistance to Ukraine for as long as needed, irrespective of the cuts in funding by other major donors.

The Commission will not step back from its humanitarian commitments. On healthcare, it will continue supporting programmes related to primary healthcare, medical supplies and equipment, light repairs of health facilities, as well as sexual and reproductive health.

MIL OSI Europe News –

July 1, 2025
MIL-OSI Africa: Huawei and African Utilities Release fine-grain Optical Transmission Network (fgOTN) White Paper to Guide Next-Gen Power Communication Networks
During the Africa Energy Forum, Huawei, together with several African electric utilities, officially released the fgOTN (fine grain OTN) White Paper for Electric Power, offering critical insights and guidance for African utilities on building next-generation power communication networks.

The white paper is designed to support power companies in navigating the evolving digital landscape, which is increasingly defined by AI integration and emerging service demands.

Addressing Legacy Network Challenges

As the power sector continues its digital transformation, traditional communication technologies such as SDH (Synchronous Digital Hierarchy) are reaching the end of their lifecycle, with limited evolution and outdated infrastructure.

In response, the newly released white paper introduces fgOTN, a next-generation solution that provides a reference architecture and construction roadmap for power communication networks, leveraging fine-granularity Optical Transport Network (OTN) technology.

fgOTN: Built for Africa’s Power Sector

The fgOTN technology is a small-granularity hard pipe system derived from the OTN standard, offering secure, isolated data transmission through rigid hard pipe channels. This architecture boosts bandwidth efficiency and ensures reliable, high-performance communications, meeting both current and future demands of African power networks.

The white paper outlines how power communication networks should be:
- Fully automated
- Digitalised and intelligentised
- Able to support centralised, unattended operations
- Optimised for enterprise digital workflows and market-based transactions
These capabilities will significantly enhance the sector’s ability to observe, control, and manage grid systems in real time.

Industry Support and Technical Leadership

Luo Xin, Optical Product Director at Huawei Southern Africa Region, stated:

“fgOTN is a new ITU-T-defined technology that inherits the safety and stability of SDH and adds the scalability and intelligence of OTN. It’s tailor-made for the power industry. In April, CIGRE established the D2.65 working group to explore its application in the energy sector. With this white paper, we aim to empower African utilities to embrace fgOTN as a core enabler of smart grid communications.”

Distributed by APO Group on behalf of Vuka Group.

Download the fgOTN White Paper for Electric Power:
https://apo-opa.co/4lsEwJ7

Contact our sales team to position your smart solution:
https://apo-opa.co/3Tk10jM

Visit the Huawei website for more information:
https://apo-opa.co/4lsEwJ7

MIL OSI Africa –
July 1, 2025
MIL-OSI Africa: Hydrogen Growth, Water Risk – Can Africa Balance Both?
Free Live Webinar Hosted by ESI Africa
Reserve My Seat Now (https://apo-opa.co/45OsWDH)

As Africa positions itself to lead in the green hydrogen economy, one vital resource sits at the centre of this transformation: water.

Green hydrogen production via electrolysis requires large quantities of water — a pressing challenge on a continent where water scarcity already threatens communities, agriculture, and industry.

Join ESI Africa for a live webinar unpacking the complex connection between hydrogen development and water resource management across Africa. This session will explore the opportunities, trade-offs, and innovations shaping the continent’s sustainable hydrogen future.

What You’ll Learn:
- The water intensity of green hydrogen — and what it means for Africa
- Technologies enabling hydrogen production with minimal freshwater use
- Planning and policy tools to align hydrogen development with water sustainability
- Africa’s potential to lead a balanced, green hydrogen economy
Secure your seat now – space is limited (https://apo-opa.co/45OsWDH)

Why Attend?

This is a critical conversation for energy planners, water authorities, hydrogen developers, policymakers, and anyone working at the intersection of Africa’s energy and environmental future. Learn how Africa can scale hydrogen without compromising water security.

Date: 24 July 2025
Time: 14:00–15:00 (SAST)
Format: Free Virtual Webinar
Registration Link: https://apo-opa.co/45OsWDH

Readers can also read more about the webinar here: https://apo-opa.co/4nsa2J3

Distributed by APO Group on behalf of Vuka Group.

MIL OSI Africa –
July 1, 2025
MIL-OSI: Barclays Bank PLC: Launch of accelerated placing of shares in InPost

Source: GlobeNewswire (MIL-OSI)

LONDON, June 30, 2025 (GLOBE NEWSWIRE) —

NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, DIRECTLY OR INDIRECTLY, IN WHOLE OR IN PART, INTO OR IN THE UNITED STATES, CANADA, AUSTRALIA, SOUTH AFRICA OR JAPAN OR ANY OTHER JURISDICTION IN WHICH OFFERS OR SALES WOULD BE PROHIBITED BY APPLICABLE LAW. THIS ANNOUNCEMENT DOES NOT CONSTITUTE OR FORM AN OFFER FOR SALE OF, OR THE SOLICITATION OF AN OFFER TO BUY, THE SECURITIES REFERRED TO HEREIN IN ANY JURISDICTION, INCLUDING THE UNITED STATES, CANADA, AUSTRALIA, SOUTH AFRICA, JAPAN OR ANY OTHER JURISDICTION IN WHICH OFFERS OR SALES WOULD BE PROHIBITED BY APPLICABLE LAW.

PLEASE SEE THE IMPORTANT NOTICE AT THE END OF THIS ANNOUNCEMENT.

30 June 2025

AI Prime & Cy S.C.A. announces the launch of an accelerated placing of shares in InPost S.A.

AI Prime & Cy S.C.A. (“AI Prime”), an Advent International company, has launched an accelerated placing (the “Placing”) of c. 17.5 million ordinary shares of InPost S.A. (the “Company”) representing c. 3.5% of the Company’s existing share capital.

The Placing is addressed to certain eligible institutional investors only, with final terms to be determined through an accelerated bookbuilding process.

The books for the Placing will open with immediate effect. Pricing and allocations are expected to be announced as soon as practicable following the closing of the books.

As part of the transaction, remaining shares in the Company held by AI Prime will be subject to a 60 day lock up period from the Placing settlement date, subject to customary exemptions.

Barclays Bank PLC is acting as Sole Global Co-ordinator and Bookrunner on the Placing.

The Company will not receive any proceeds from the Placing.

IMPORTANT NOTICE

THIS ANNOUNCEMENT AND THE INFORMATION CONTAINED HEREIN IS FOR INFORMATION PURPOSES ONLY AND DOES NOT CONSTITUTE AN OFFER TO SELL OR THE SOLICITATION OF AN OFFER TO BUY ANY OF THESE SECURITIES IN THE UNITED STATES, CANADA, AUSTRALIA, SOUTH AFRICA, JAPAN OR ANY OTHER JURISDICTION IN WHICH SUCH OFFER, SOLICITATION OR SALE WOULD BE UNLAWFUL PRIOR TO REGISTRATION OR QUALIFICATION UNDER THE SECURITIES LAWS OF ANY SUCH JURISDICTION. THE SECURITIES MAY NOT BE OFFERED OR SOLD IN THE UNITED STATES ABSENT REGISTRATION OR AN APPLICABLE EXEMPTION FROM UNITED STATES REGISTRATION REQUIREMENTS. NO PUBLIC OFFER OF SECURITIES IS TO BE MADE IN THE UNITED STATES AND NEITHER THIS ANNOUNCEMENT NOR ANY COPY OF IT MAY BE TAKEN, TRANSMITTED OR DISTRIBUTED, DIRECTLY OR INDIRECTLY, IN OR INTO OR FROM THE UNITED STATES (INCLUDING ITS TERRITORIES AND POSSESSIONS, ANY STATE OF THE UNITED STATES AND THE DISTRICT OF COLUMBIA), CANADA, SOUTH AFRICA OR JAPAN. ANY FAILURE TO COMPLY WITH THIS RESTRICTION MAY CONSTITUTE A VIOLATION OF UNITED STATES, CANADIAN, SOUTH AFRICAN OR JAPANESE SECURITIES LAWS.

THIS ANNOUNCEMENT AND ANY OFFER OF SHARES PURSUANT TO THE PLACING (“PLACING SHARES“) IF MADE SUBSEQUENTLY ARE ONLY ADDRESSED TO AND DIRECTED AT PERSONS (1) IN THE EEA WHO ARE QUALIFIED INVESTORS WITHIN THE MEANING OF REGULATION (EU) 2017/1129 (THE “PROSPECTUS REGULATION“) AND (2) IN THE UNITED KINGDOM, WHO ARE QUALIFIED INVESTORS WITHIN THE MEANING OF THE PROSPECTUS REGULATION AS IT FORMS PART OF DOMESTIC LAW BY VIRTUE OF THE EUROPEAN UNION (WITHDRAWAL) ACT 2018 AND WHO HAVE PROFESSIONAL EXPERIENCE IN MATTERS RELATING TO INVESTMENTS WHO FALL WITHIN ARTICLE 19(5) OF THE FINANCIAL SERVICES AND MARKETS ACT 2000 (FINANCIAL PROMOTION) ORDER 2005 (AS AMENDED, THE “ORDER“) OR ARE HIGH NET WORTH ENTITIES FALLING WITHIN ARTICLE 49(2)(A) TO (D) OF THE ORDER OR ARE PERSONS TO WHOM AN OFFER OF THE PLACING SHARES MAY OTHERWISE BE LAWFULLY COMMUNICATED (ALL SUCH PERSONS BEING REFERRED TO AS “RELEVANT PERSONS“). PERSONS WHO ARE NOT RELEVANT PERSONS SHOULD NOT TAKE ANY ACTION ON THE BASIS OF THIS ANNOUNCEMENT AND SHOULD NOT ACT OR RELY ON IT.

THE SECURITIES REFERRED TO HEREIN WILL BE OFFERED (I) WITHIN THE UNITED STATES ONLY TO A LIMITED NUMBER OF QUALIFIED INSTITUTIONAL BUYERS AS DEFINED IN RULE 144A UNDER THE U.S. SECURITIES ACT OF 1933, AS AMENDED (THE “SECURITIES ACT“) PURSUANT TO AN EXEMPTION FROM, OR IN TRANSACTIONS NOT SUBJECT TO, THE REGISTRATION REQUIREMENTS OF THE SECURITIES ACT, AND (II) OUTSIDE THE UNITED STATES IN RELIANCE ON REGULATION S UNDER THE SECURITIES ACT, IN EACH CASE SUBJECT TO PREVAILING MARKET AND OTHER CONDITIONS. THERE IS NO ASSURANCE THAT THE PLACING WILL BE COMPLETED, OR IF COMPLETED, AS TO THE TERMS ON WHICH IT IS COMPLETED. THE SECURITIES REFERRED TO HEREIN HAVE NOT BEEN AND WILL NOT BE REGISTERED UNDER THE SECURITIES ACT AND MAY NOT BE OFFERED OR SOLD IN THE UNITED STATES WITHOUT REGISTRATION THEREUNDER OR UNLESS PURSUANT TO AN AVAILABLE EXEMPTION THEREFROM. NEITHER THIS DOCUMENT NOR THE INFORMATION CONTAINED HEREIN CONSTITUTES OR FORMS PART OF AN OFFER TO SELL, OR THE SOLICITATION OF AN OFFER TO BUY, SECURITIES IN THE UNITED STATES. THERE WILL BE NO PUBLIC OFFER OF ANY SECURITIES IN THE UNITED STATES OR ANY OTHER JURISDICTION.

THIS ANNOUNCEMENT DOES NOT, AND SHALL NOT, IN ANY CIRCUMSTANCES CONSTITUTE A PUBLIC OFFERING, NOR AN OFFER TO SELL OR TO SUBSCRIBE, NOR A SOLICITATION TO OFFER TO PURCHASE OR TO SUBSCRIBE SECURITIES IN ANY JURISDICTION. THE DISTRIBUTION OF THIS ANNOUNCEMENT AND THE OFFERING OR SALE OF THE SECURITIES IN CERTAIN JURISDICTIONS MAY BE RESTRICTED BY LAW. NO ACTION HAS BEEN TAKEN BY AI PRIME, BARCLAYS BANK PLC (THE “GLOBAL CO-ORDINATOR“) OR ANY OF THEIR RESPECTIVE AFFILIATES THAT WOULD, OR WHICH IS INTENDED TO, PERMIT A PUBLIC OFFER OF THE SECURITIES IN ANY JURISDICTION OR POSSESSION OR DISTRIBUTION OF THIS ANNOUNCEMENT OR ANY OTHER OFFERING OR PUBLICITY MATERIAL RELATING TO THE SECURITIES IN ANY JURISDICTION WHERE ACTION FOR THAT PURPOSE IS REQUIRED. PERSONS INTO WHOSE POSSESSION THIS ANNOUNCEMENT COMES ARE REQUIRED BY AI PRIME AND THE GLOBAL CO-ORDINATOR TO INFORM THEMSELVES ABOUT AND TO OBSERVE ANY APPLICABLE RESTRICTIONS.

NO PROSPECTUS OR OFFERING DOCUMENT HAS BEEN OR WILL BE PREPARED IN CONNECTION WITH THE PLACING. ANY INVESTMENT DECISION IN CONNECTION WITH THE PLACING MUST BE MADE SOLELY ON THE BASIS OF PUBLICLY AVAILABLE INFORMATION RELATING TO THE COMPANY AND ITS SHARES. SUCH INFORMATION HAS NOT BEEN INDEPENDENTLY VERIFIED AND AI PRIME AND THE GLOBAL CO-ORDINATOR ARE NOT RESPONSIBLE, AND EXPRESSLY DISCLAIM ANY LIABILITY, FOR SUCH INFORMATION. THE INFORMATION CONTAINED IN THIS ANNOUNCEMENT IS FOR BACKGROUND PURPOSES ONLY AND DOES NOT PURPORT TO BE FULL OR COMPLETE. NO RELIANCE MAY BE PLACED FOR ANY PURPOSE ON THE INFORMATION CONTAINED IN THIS ANNOUNCEMENT OR ON ITS ACCURACY OR COMPLETENESS.

IN CONNECTION WITH THE PLACING, THE GLOBAL CO-ORDINATOR OR ANY OF ITS AFFILIATES MAY TAKE UP A PORTION OF THE PLACING SHARES AS A PRINCIPAL POSITION AND IN THAT CAPACITY MAY RETAIN, PURCHASE, SELL OR OFFER TO SELL FOR ITS OWN ACCOUNT SUCH PLACING SHARES AND OTHER SECURITIES OF THE COMPANY OR RELATED INVESTMENTS IN CONNECTION WITH THE PLACING OR OTHERWISE. ACCORDINGLY, REFERENCES TO THE PLACING SHARES BEING OFFERED, ACQUIRED, PLACED OR OTHERWISE DEALT IN SHOULD BE READ AS INCLUDING ANY OFFER TO, OR ACQUISITION, PLACING OR DEALING BY THE GLOBAL CO-ORDINATOR AND ANY OF ITS AFFILIATES ACTING AS INVESTORS FOR THEIR OWN ACCOUNTS. THE GLOBAL CO-ORDINATOR DOES NOT INTEND TO DISCLOSE THE EXTENT OF ANY SUCH INVESTMENT OR TRANSACTIONS OTHERWISE THAN IN ACCORDANCE WITH ANY LEGAL OR REGULATORY OBLIGATIONS TO DO SO.

THIS ANNOUNCEMENT DOES NOT PURPORT TO IDENTIFY OR SUGGEST THE RISKS (DIRECT OR INDIRECT) WHICH MAY BE ASSOCIATED WITH AN INVESTMENT IN THE COMPANY OR ITS SHARES.

THIS ANNOUNCEMENT DOES NOT CONSTITUTE A RECOMMENDATION CONCERNING THE PLACING. THE PRICE AND VALUE OF SECURITIES AND ANY INCOME FROM THEM CAN GO DOWN AS WELL AS UP. PAST PERFORMANCE IS NOT A GUIDE TO FUTURE PERFORMANCE. ACQUIRING PLACING SHARES TO WHICH THIS ANNOUNCEMENT RELATES MAY EXPOSE AN INVESTOR TO A SIGNIFICANT RISK OF LOSING ALL OF THE AMOUNT INVESTED. POTENTIAL INVESTORS SHOULD CONSULT A PROFESSIONAL ADVISOR AS TO THE SUITABILITY OF THE PLACING FOR THE ENTITY OR PERSON CONCERNED. THIS ANNOUNCEMENT DOES NOT REPRESENT THE ANNOUNCEMENT OF A DEFINITIVE AGREEMENT TO PROCEED WITH THE PLACING AND, ACCORDINGLY, THERE CAN BE NO CERTAINTY THAT THE PLACING WILL PROCEED. AI PRIME RESERVES THE RIGHT NOT TO PROCEED WITH THE PLACING OR TO VARY THE TERMS OF THE PLACING IN ANY WAY.

BARCLAYS BANK PLC IS AUTHORISED IN THE UNITED KINGDOM BY THE PRUDENTIAL REGULATION AUTHORITY AND REGULATED BY THE FINANCIAL CONDUCT AUTHORITY AND THE PRUDENTIAL REGULATION AUTHORITY. THE GLOBAL CO-ORDINATOR IS ACTING FOR AI PRIME AND NO-ONE ELSE IN CONNECTION WITH THE PLACING. NEITHER THE GLOBAL CO-ORDINATOR NOR ANY OF ITS AFFILIATES, NOR THEIR RESPECTIVE PARTNERS, DIRECTORS, OFFICERS, EMPLOYEES OR AGENTS WILL REGARD ANY OTHER PERSON AS A CLIENT IN CONNECTION WITH THE PLACING AND THEY WILL NOT BE RESPONSIBLE TO ANYONE OTHER THAN AI PRIME FOR PROVIDING THE PROTECTIONS AFFORDED TO THEIR RESPECTIVE CLIENTS OR FOR PROVIDING ADVICE IN CONNECTION WITH THE PLACING DESCRIBED IN THIS ANNOUNCEMENT OR FOR ANY OTHER MATTERS REFERRED TO HEREIN.

CERTAIN FIGURES CONTAINED IN THIS ANNOUNCEMENT HAVE BEEN SUBJECT TO ROUNDING ADJUSTMENTS. ACCORDINGLY, IN CERTAIN INSTANCES, THE SUM OR PERCENTAGE CHANGE OF THE NUMBERS CONTAINED IN THIS ANNOUNCEMENT MAY NOT CONFORM EXACTLY WITH THE TOTAL FIGURE GIVEN.

THIS ANNOUNCEMENT INCLUDES STATEMENTS THAT ARE, OR MAY BE DEEMED TO BE, FORWARD-LOOKING STATEMENTS. THESE FORWARD-LOOKING STATEMENTS MAY BE IDENTIFIED BY THE USE OF FORWARD-LOOKING TERMINOLOGY, INCLUDING THE TERMS “INTENDS”, “EXPECTS”, “WILL”, OR “MAY”, OR, IN EACH CASE, THEIR NEGATIVE OR OTHER VARIATIONS OR COMPARABLE TERMINOLOGY, OR BY DISCUSSIONS OF STRATEGY, PLANS, OBJECTIVES, GOALS, FUTURE EVENTS OR INTENTIONS. THESE FORWARD-LOOKING STATEMENTS INCLUDE ALL MATTERS THAT ARE NOT HISTORICAL FACTS AND INCLUDE STATEMENTS REGARDING INTENTIONS, BELIEFS OR CURRENT EXPECTATIONS. NO ASSURANCES CAN BE GIVEN THAT THE FORWARD-LOOKING STATEMENTS IN THIS ANNOUNCEMENT WILL BE REALISED. AS A RESULT, NO UNDUE RELIANCE SHOULD BE PLACED ON THESE FORWARD-LOOKING STATEMENTS AS A PREDICTION OF ACTUAL EVENTS OR OTHERWISE.

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.

The MIL Network –

July 1, 2025
MIL-OSI: Barclays Bank PLC: Launch of accelerated placing of shares in InPost

Source: GlobeNewswire (MIL-OSI)

LONDON, June 30, 2025 (GLOBE NEWSWIRE) —

NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, DIRECTLY OR INDIRECTLY, IN WHOLE OR IN PART, INTO OR IN THE UNITED STATES, CANADA, AUSTRALIA, SOUTH AFRICA OR JAPAN OR ANY OTHER JURISDICTION IN WHICH OFFERS OR SALES WOULD BE PROHIBITED BY APPLICABLE LAW. THIS ANNOUNCEMENT DOES NOT CONSTITUTE OR FORM AN OFFER FOR SALE OF, OR THE SOLICITATION OF AN OFFER TO BUY, THE SECURITIES REFERRED TO HEREIN IN ANY JURISDICTION, INCLUDING THE UNITED STATES, CANADA, AUSTRALIA, SOUTH AFRICA, JAPAN OR ANY OTHER JURISDICTION IN WHICH OFFERS OR SALES WOULD BE PROHIBITED BY APPLICABLE LAW.

PLEASE SEE THE IMPORTANT NOTICE AT THE END OF THIS ANNOUNCEMENT.

30 June 2025

AI Prime & Cy S.C.A. announces the launch of an accelerated placing of shares in InPost S.A.

AI Prime & Cy S.C.A. (“AI Prime”), an Advent International company, has launched an accelerated placing (the “Placing”) of c. 17.5 million ordinary shares of InPost S.A. (the “Company”) representing c. 3.5% of the Company’s existing share capital.

The Placing is addressed to certain eligible institutional investors only, with final terms to be determined through an accelerated bookbuilding process.

The books for the Placing will open with immediate effect. Pricing and allocations are expected to be announced as soon as practicable following the closing of the books.

As part of the transaction, remaining shares in the Company held by AI Prime will be subject to a 60 day lock up period from the Placing settlement date, subject to customary exemptions.

Barclays Bank PLC is acting as Sole Global Co-ordinator and Bookrunner on the Placing.

The Company will not receive any proceeds from the Placing.

IMPORTANT NOTICE

THIS ANNOUNCEMENT AND THE INFORMATION CONTAINED HEREIN IS FOR INFORMATION PURPOSES ONLY AND DOES NOT CONSTITUTE AN OFFER TO SELL OR THE SOLICITATION OF AN OFFER TO BUY ANY OF THESE SECURITIES IN THE UNITED STATES, CANADA, AUSTRALIA, SOUTH AFRICA, JAPAN OR ANY OTHER JURISDICTION IN WHICH SUCH OFFER, SOLICITATION OR SALE WOULD BE UNLAWFUL PRIOR TO REGISTRATION OR QUALIFICATION UNDER THE SECURITIES LAWS OF ANY SUCH JURISDICTION. THE SECURITIES MAY NOT BE OFFERED OR SOLD IN THE UNITED STATES ABSENT REGISTRATION OR AN APPLICABLE EXEMPTION FROM UNITED STATES REGISTRATION REQUIREMENTS. NO PUBLIC OFFER OF SECURITIES IS TO BE MADE IN THE UNITED STATES AND NEITHER THIS ANNOUNCEMENT NOR ANY COPY OF IT MAY BE TAKEN, TRANSMITTED OR DISTRIBUTED, DIRECTLY OR INDIRECTLY, IN OR INTO OR FROM THE UNITED STATES (INCLUDING ITS TERRITORIES AND POSSESSIONS, ANY STATE OF THE UNITED STATES AND THE DISTRICT OF COLUMBIA), CANADA, SOUTH AFRICA OR JAPAN. ANY FAILURE TO COMPLY WITH THIS RESTRICTION MAY CONSTITUTE A VIOLATION OF UNITED STATES, CANADIAN, SOUTH AFRICAN OR JAPANESE SECURITIES LAWS.

THIS ANNOUNCEMENT AND ANY OFFER OF SHARES PURSUANT TO THE PLACING (“PLACING SHARES“) IF MADE SUBSEQUENTLY ARE ONLY ADDRESSED TO AND DIRECTED AT PERSONS (1) IN THE EEA WHO ARE QUALIFIED INVESTORS WITHIN THE MEANING OF REGULATION (EU) 2017/1129 (THE “PROSPECTUS REGULATION“) AND (2) IN THE UNITED KINGDOM, WHO ARE QUALIFIED INVESTORS WITHIN THE MEANING OF THE PROSPECTUS REGULATION AS IT FORMS PART OF DOMESTIC LAW BY VIRTUE OF THE EUROPEAN UNION (WITHDRAWAL) ACT 2018 AND WHO HAVE PROFESSIONAL EXPERIENCE IN MATTERS RELATING TO INVESTMENTS WHO FALL WITHIN ARTICLE 19(5) OF THE FINANCIAL SERVICES AND MARKETS ACT 2000 (FINANCIAL PROMOTION) ORDER 2005 (AS AMENDED, THE “ORDER“) OR ARE HIGH NET WORTH ENTITIES FALLING WITHIN ARTICLE 49(2)(A) TO (D) OF THE ORDER OR ARE PERSONS TO WHOM AN OFFER OF THE PLACING SHARES MAY OTHERWISE BE LAWFULLY COMMUNICATED (ALL SUCH PERSONS BEING REFERRED TO AS “RELEVANT PERSONS“). PERSONS WHO ARE NOT RELEVANT PERSONS SHOULD NOT TAKE ANY ACTION ON THE BASIS OF THIS ANNOUNCEMENT AND SHOULD NOT ACT OR RELY ON IT.

THE SECURITIES REFERRED TO HEREIN WILL BE OFFERED (I) WITHIN THE UNITED STATES ONLY TO A LIMITED NUMBER OF QUALIFIED INSTITUTIONAL BUYERS AS DEFINED IN RULE 144A UNDER THE U.S. SECURITIES ACT OF 1933, AS AMENDED (THE “SECURITIES ACT“) PURSUANT TO AN EXEMPTION FROM, OR IN TRANSACTIONS NOT SUBJECT TO, THE REGISTRATION REQUIREMENTS OF THE SECURITIES ACT, AND (II) OUTSIDE THE UNITED STATES IN RELIANCE ON REGULATION S UNDER THE SECURITIES ACT, IN EACH CASE SUBJECT TO PREVAILING MARKET AND OTHER CONDITIONS. THERE IS NO ASSURANCE THAT THE PLACING WILL BE COMPLETED, OR IF COMPLETED, AS TO THE TERMS ON WHICH IT IS COMPLETED. THE SECURITIES REFERRED TO HEREIN HAVE NOT BEEN AND WILL NOT BE REGISTERED UNDER THE SECURITIES ACT AND MAY NOT BE OFFERED OR SOLD IN THE UNITED STATES WITHOUT REGISTRATION THEREUNDER OR UNLESS PURSUANT TO AN AVAILABLE EXEMPTION THEREFROM. NEITHER THIS DOCUMENT NOR THE INFORMATION CONTAINED HEREIN CONSTITUTES OR FORMS PART OF AN OFFER TO SELL, OR THE SOLICITATION OF AN OFFER TO BUY, SECURITIES IN THE UNITED STATES. THERE WILL BE NO PUBLIC OFFER OF ANY SECURITIES IN THE UNITED STATES OR ANY OTHER JURISDICTION.

THIS ANNOUNCEMENT DOES NOT, AND SHALL NOT, IN ANY CIRCUMSTANCES CONSTITUTE A PUBLIC OFFERING, NOR AN OFFER TO SELL OR TO SUBSCRIBE, NOR A SOLICITATION TO OFFER TO PURCHASE OR TO SUBSCRIBE SECURITIES IN ANY JURISDICTION. THE DISTRIBUTION OF THIS ANNOUNCEMENT AND THE OFFERING OR SALE OF THE SECURITIES IN CERTAIN JURISDICTIONS MAY BE RESTRICTED BY LAW. NO ACTION HAS BEEN TAKEN BY AI PRIME, BARCLAYS BANK PLC (THE “GLOBAL CO-ORDINATOR“) OR ANY OF THEIR RESPECTIVE AFFILIATES THAT WOULD, OR WHICH IS INTENDED TO, PERMIT A PUBLIC OFFER OF THE SECURITIES IN ANY JURISDICTION OR POSSESSION OR DISTRIBUTION OF THIS ANNOUNCEMENT OR ANY OTHER OFFERING OR PUBLICITY MATERIAL RELATING TO THE SECURITIES IN ANY JURISDICTION WHERE ACTION FOR THAT PURPOSE IS REQUIRED. PERSONS INTO WHOSE POSSESSION THIS ANNOUNCEMENT COMES ARE REQUIRED BY AI PRIME AND THE GLOBAL CO-ORDINATOR TO INFORM THEMSELVES ABOUT AND TO OBSERVE ANY APPLICABLE RESTRICTIONS.

NO PROSPECTUS OR OFFERING DOCUMENT HAS BEEN OR WILL BE PREPARED IN CONNECTION WITH THE PLACING. ANY INVESTMENT DECISION IN CONNECTION WITH THE PLACING MUST BE MADE SOLELY ON THE BASIS OF PUBLICLY AVAILABLE INFORMATION RELATING TO THE COMPANY AND ITS SHARES. SUCH INFORMATION HAS NOT BEEN INDEPENDENTLY VERIFIED AND AI PRIME AND THE GLOBAL CO-ORDINATOR ARE NOT RESPONSIBLE, AND EXPRESSLY DISCLAIM ANY LIABILITY, FOR SUCH INFORMATION. THE INFORMATION CONTAINED IN THIS ANNOUNCEMENT IS FOR BACKGROUND PURPOSES ONLY AND DOES NOT PURPORT TO BE FULL OR COMPLETE. NO RELIANCE MAY BE PLACED FOR ANY PURPOSE ON THE INFORMATION CONTAINED IN THIS ANNOUNCEMENT OR ON ITS ACCURACY OR COMPLETENESS.

IN CONNECTION WITH THE PLACING, THE GLOBAL CO-ORDINATOR OR ANY OF ITS AFFILIATES MAY TAKE UP A PORTION OF THE PLACING SHARES AS A PRINCIPAL POSITION AND IN THAT CAPACITY MAY RETAIN, PURCHASE, SELL OR OFFER TO SELL FOR ITS OWN ACCOUNT SUCH PLACING SHARES AND OTHER SECURITIES OF THE COMPANY OR RELATED INVESTMENTS IN CONNECTION WITH THE PLACING OR OTHERWISE. ACCORDINGLY, REFERENCES TO THE PLACING SHARES BEING OFFERED, ACQUIRED, PLACED OR OTHERWISE DEALT IN SHOULD BE READ AS INCLUDING ANY OFFER TO, OR ACQUISITION, PLACING OR DEALING BY THE GLOBAL CO-ORDINATOR AND ANY OF ITS AFFILIATES ACTING AS INVESTORS FOR THEIR OWN ACCOUNTS. THE GLOBAL CO-ORDINATOR DOES NOT INTEND TO DISCLOSE THE EXTENT OF ANY SUCH INVESTMENT OR TRANSACTIONS OTHERWISE THAN IN ACCORDANCE WITH ANY LEGAL OR REGULATORY OBLIGATIONS TO DO SO.

THIS ANNOUNCEMENT DOES NOT PURPORT TO IDENTIFY OR SUGGEST THE RISKS (DIRECT OR INDIRECT) WHICH MAY BE ASSOCIATED WITH AN INVESTMENT IN THE COMPANY OR ITS SHARES.

THIS ANNOUNCEMENT DOES NOT CONSTITUTE A RECOMMENDATION CONCERNING THE PLACING. THE PRICE AND VALUE OF SECURITIES AND ANY INCOME FROM THEM CAN GO DOWN AS WELL AS UP. PAST PERFORMANCE IS NOT A GUIDE TO FUTURE PERFORMANCE. ACQUIRING PLACING SHARES TO WHICH THIS ANNOUNCEMENT RELATES MAY EXPOSE AN INVESTOR TO A SIGNIFICANT RISK OF LOSING ALL OF THE AMOUNT INVESTED. POTENTIAL INVESTORS SHOULD CONSULT A PROFESSIONAL ADVISOR AS TO THE SUITABILITY OF THE PLACING FOR THE ENTITY OR PERSON CONCERNED. THIS ANNOUNCEMENT DOES NOT REPRESENT THE ANNOUNCEMENT OF A DEFINITIVE AGREEMENT TO PROCEED WITH THE PLACING AND, ACCORDINGLY, THERE CAN BE NO CERTAINTY THAT THE PLACING WILL PROCEED. AI PRIME RESERVES THE RIGHT NOT TO PROCEED WITH THE PLACING OR TO VARY THE TERMS OF THE PLACING IN ANY WAY.

BARCLAYS BANK PLC IS AUTHORISED IN THE UNITED KINGDOM BY THE PRUDENTIAL REGULATION AUTHORITY AND REGULATED BY THE FINANCIAL CONDUCT AUTHORITY AND THE PRUDENTIAL REGULATION AUTHORITY. THE GLOBAL CO-ORDINATOR IS ACTING FOR AI PRIME AND NO-ONE ELSE IN CONNECTION WITH THE PLACING. NEITHER THE GLOBAL CO-ORDINATOR NOR ANY OF ITS AFFILIATES, NOR THEIR RESPECTIVE PARTNERS, DIRECTORS, OFFICERS, EMPLOYEES OR AGENTS WILL REGARD ANY OTHER PERSON AS A CLIENT IN CONNECTION WITH THE PLACING AND THEY WILL NOT BE RESPONSIBLE TO ANYONE OTHER THAN AI PRIME FOR PROVIDING THE PROTECTIONS AFFORDED TO THEIR RESPECTIVE CLIENTS OR FOR PROVIDING ADVICE IN CONNECTION WITH THE PLACING DESCRIBED IN THIS ANNOUNCEMENT OR FOR ANY OTHER MATTERS REFERRED TO HEREIN.

CERTAIN FIGURES CONTAINED IN THIS ANNOUNCEMENT HAVE BEEN SUBJECT TO ROUNDING ADJUSTMENTS. ACCORDINGLY, IN CERTAIN INSTANCES, THE SUM OR PERCENTAGE CHANGE OF THE NUMBERS CONTAINED IN THIS ANNOUNCEMENT MAY NOT CONFORM EXACTLY WITH THE TOTAL FIGURE GIVEN.

THIS ANNOUNCEMENT INCLUDES STATEMENTS THAT ARE, OR MAY BE DEEMED TO BE, FORWARD-LOOKING STATEMENTS. THESE FORWARD-LOOKING STATEMENTS MAY BE IDENTIFIED BY THE USE OF FORWARD-LOOKING TERMINOLOGY, INCLUDING THE TERMS “INTENDS”, “EXPECTS”, “WILL”, OR “MAY”, OR, IN EACH CASE, THEIR NEGATIVE OR OTHER VARIATIONS OR COMPARABLE TERMINOLOGY, OR BY DISCUSSIONS OF STRATEGY, PLANS, OBJECTIVES, GOALS, FUTURE EVENTS OR INTENTIONS. THESE FORWARD-LOOKING STATEMENTS INCLUDE ALL MATTERS THAT ARE NOT HISTORICAL FACTS AND INCLUDE STATEMENTS REGARDING INTENTIONS, BELIEFS OR CURRENT EXPECTATIONS. NO ASSURANCES CAN BE GIVEN THAT THE FORWARD-LOOKING STATEMENTS IN THIS ANNOUNCEMENT WILL BE REALISED. AS A RESULT, NO UNDUE RELIANCE SHOULD BE PLACED ON THESE FORWARD-LOOKING STATEMENTS AS A PREDICTION OF ACTUAL EVENTS OR OTHERWISE.

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.

The MIL Network –

July 1, 2025
MIL-OSI Banking: Excited to share two advances that bring us closer to real-world impact in healthcare AI: …Together, these advances offer a blueprint for how AI can help deliver precision and efficiency in healthcare, and we’re looking forward to working with healthcare partners and the entire ecosystem on these advances making a difference.

Source: Microsoft

Headline: Excited to share two advances that bring us closer to real-world impact in healthcare AI: …Together, these advances offer a blueprint for how AI can help deliver precision and efficiency in healthcare, and we’re looking forward to working with healthcare partners and the entire ecosystem on these advances making a difference.

Excited to share two advances that bring us closer to real-world impact in healthcare AI: SDBench introduces a new benchmark that transforms 304 NEJM cases into interactive diagnostic simulations. AI must ask questions, order tests, and weigh costs, mirroring the complexity of real clinical decision-making. MAI-DxO is a model-agnostic orchestrator that simulates a panel of virtual physicians. It achieves 85.5% diagnostic accuracy—four times that of experienced doctors—while cutting diagnostic costs. Together, these advances offer a blueprint for how AI can help deliver precision and efficiency in healthcare, and we’re looking forward to working with healthcare partners and the entire ecosystem on these advances making a difference. https://lnkd.in/gd5nd4qF

MIL OSI Global Banks –

July 1, 2025
MIL-OSI USA: UConn Entrepreneur Aims to Revolutionize Men’s Health Care

Source: US State of Connecticut

When former President Joe Biden revealed in May that he had been diagnosed with an advanced and aggressive form of prostate cancer, the news rattled UConn’s Reza Amin ’18 Ph.D., ’19 MS.

Amin is the CEO and Founder of Bastion Health, the first and largest virtual urology group in the country. Bastion, a UConn startup, addresses men’s health care through at-home diagnostics, specialist-led care, and elimination of impediments to medical attention.

Detecting prostate cancer in its most treatable stage is more than a professional interest for Amin. He lost his grandfather to the disease and wants to spare others from that heartbreak.

“Prostate cancer is a cruel disease because it can often be asymptomatic and, without testing, men don’t know they have it,’’ he says. “The good news is that if prostate cancer is diagnosed early, the survival rate is close to 100 percent. Diagnosed later, it falls to about 40 percent.

“Our work at Bastion is about changing that equation—by offering early, accessible, and private care for our male patients,’’ he says. Bastion also addresses prostate, hormonal, and reproductive issues, as well as cancer prevention.

“Improving men’s access to care is at the heart of what we do. We’re building a future where men don’t delay care because of stigma, access issues, or inconvenience,’’ he says. “When care is confidential, virtual, and designed around them, men are more willing to use it.’’

Men’s Health a Growing Concern

Bastion Health is based at the UConn Technology Incubation Program (TIP) in Farmington, which unites research, facilities, and business support for high-impact startups.

The company, created in 2020, contracts with large employers who offer the medical service to their employees. Some 120,000 men—in all 50 states— have access to Bastion’s services. The company is growing quickly and is set to expand, adding multiple Fortune 500 employers to its ranks next year.

The statistics about men’s health are concerning. About one in eight men will be diagnosed with prostate cancer in their lifetime. In the last seven years or so, there has been a spike in men being diagnosed with late-stage disease.

Reza Amin (courtesy of Bastion Health)

Bastion offers at-home testing, supported by a team of more than 60 board-certified urologists, who deliver comprehensive virtual care and guide patients every step of the way, offering fast referrals when in-person support is needed.

New patients begin with an app-based intake, followed by a nurse practitioner visit and at-home diagnostic kits delivered to their door. The tests cover blood, urine, semen, and stool. Samples are processed by certified labs, and results are reviewed by board-certified urologists to initiate treatment.

“The clinical accuracy matches traditional in-office care, but with greater convenience, faster follow-through, and a better patient experience,’’ Amin says. The normalization of telehealth following the COVID-19 pandemic has only accelerated Bastion’s growth, making virtual specialty care not just viable—but preferred, he added.

The traditional health care system hasn’t evolved with men’s needs, and as a result, many men bypass it, Amin says. Long waits in a doctor’s office, missed time at work, embarrassing test requirements, and difficulty scheduling follow-up appointments result in men avoiding life-enhancing or life-saving care.

“Men deserve care that’s private, seamless, and designed for them, especially when it comes to issues ‘under the belt,’” Amin says. “We’re a team of technologists, physicians, nurses, and health professionals building the future of men’s health. With AI-powered telehealth, nationwide urologist access, and integrated at-home testing, we’re redefining specialty care—delivered from home, anywhere in the country. We are always keeping the patient in mind in whatever we do.”

The medical service not only improves outcomes and prevents late-stage diagnoses, but also reduces health care spending for employers and payers.

“Not only are we saving lives, but we are also saving companies a great deal of money. Every cancer patient who is diagnosed early saves employers and payers $300,000. That’s just huge,” Amin says. “In many cases that savings alone covers the cost of the program for the entire employee population.’’

From Avid Researcher to Business Entrepreneur

Amin’s business idea began 10 years ago when he was completing a Ph.D. in mechanical engineering, with a focus on medical diagnostic system design, at UConn. He published his first paper on at-home testing and how it can help with cancer detection.

“It started as an idea on paper, but it pieced things together,’’ he says. As the idea took root, Amin realized he wanted to create something more impactful than a testing company. He wanted to transform access to care.

“We dove into everything—regulations, diagnostics, emerging tech,” he says. “Today, we’re an AI-powered virtual care platform integrating at-home testing and automated clinical workflows. With help from AI, we streamline medical documentation, enhance clinical decision-making, and engage patients more effectively, improving the experience for both patients and providers. It’s about reducing friction, increasing satisfaction, and delivering high-quality care at scale.”

The year after completing his Ph.D., Amin added a master’s degree in global entrepreneurship from UConn to his resume. He is also the co-founder of Encapsulate, a precision personalized cancer therapy program.

Urologists Often Difficult to Find

Because urology practices are most frequently located in cities, some 62% of United States counties don’t have a single urologist, Amin says. That makes it difficult for many men, even those who are health-conscious, to get an appointment and schedule follow-ups if a problem is detected.

At Bastion, the team tries to make accessing care as seamless as possible. A dedicated care coordinator alerts men to appointments, testing, and medication refills. If follow-up care is needed, the patient is quickly referred to a health care system that can address even complex treatment.

If men are comfortable receiving care at home, let’s bring it to them there. We are leading the market but not abandoning high-quality service. &#8212 Reza Amin, Bastion Health

Through Bastion’s focus on patient satisfaction, Amin and his team reviewed and adopted technologies designed with the male patient experience in mind—making it easy to collect blood, urine, semen, and stool from home.

“We strive to be tech-savvy and futuristic thinking,” he says. “If men are comfortable receiving care at home, let’s bring it to them there. We are leading the market but not abandoning high-quality service.”

UConn Instrumental in Bastion’s Success

Bastion Health has also benefitted from numerous UConn entrepreneurship programs through the School of Business, College of Engineering, the Werth Institute for Entrepreneurship and Innovation, and the Connecticut Center for Entrepreneurship & Innovation. As an entrepreneur, Amin says, he ran into many people who discouraged his efforts. The support from UConn offset the challenges.

“Our company is a UConn spinoff. We’re Huskies through and through. We’ve had great support, lab and office space, and we utilize talent from UConn,” Amin says.

Amin has also competed in prestigious entrepreneurship competitions, including Connect Next, Mayo Clinic Incubator, Mass Challenge, and Plug & Play.

Bastion has been recognized in Forbes twice and as a Top 100 Healthcare Tech Company by Healthcare Tech Report Nation. He was also chosen as a “40 Under Forty” award recipient by the Hartford Business Journal.

“In growing this business, I realized that talent is key. I wanted to spend enough time to find the right people. Technology and funding are important, but it is talent that brings the ideas, builds the culture, and shares the vision that creates value,’’ he says. “Our partnerships and alignment are very important.’’

‘It Impacts Everyone and Everything’

Although Amin is focused on caring for men’s health, he recognizes the work he does has a profound ripple effect.

“Whether you’re addressing men’s health, women’s health, or children’s health, it is all family health,” he says. “Everyone wants a healthy family and if any one member has a problem, it impacts everyone and everything, from fear and disruption to employment and income concerns.”

“Losing lives to conditions that are treatable, when solutions exist and can’t be accessed, is failure,” he says. “We hope to save many families from going through the terrible experience of advanced prostate cancer.’’

MIL OSI USA News –

July 1, 2025
MIL-OSI USA: First-Ever Master Plan for Aging Final Report Released
Source: US State of New York

overnor Kathy Hochul today released the Final Report for New York’s first-ever Master Plan for Aging (MPA). The MPA Final Report contains more than 100 proposals directed towards all levels of government, the social sector and private enterprise, all with the aim of helping individuals age with dignity, independence and the support they need and deserve to thrive.

“Every New Yorker should be able to age with dignity and independence,” Governor Hochul said. “The Master Plan for Aging builds on our ongoing efforts to empower older adults and advance New York’s status as an age-friendly state. I thank the hundreds of stakeholders, state agency staff and partners who worked to develop these proposals and look forward to reviewing the report.”

The report’s release was accompanied by a newly unveiled MPA website featuring the complete report and a sortable library of its 100-plus proposals, available in multiple languages at https://planforaging.ny.gov/.

The MPA advances goals outlined in the Governor’s 2022 State of the State Address and Fiscal Year (FY) 2023 Executive Budget. It was formally established by Executive Order No. 23, signed in November 2022.

The Master Plan for Aging, led by the New York State Department of Health, the New York State Office for the Aging, and the New York State Department of State is the product of a collaborative effort with dozens of stakeholders inside and outside of government.

New York has the fourth-largest population of older adults in the U.S., with 3.2 million individuals – about 16 percent of the population – over age 65. The state’s population of those over the age of 60 is projected to grow to 5.3 million by 2030, with those over 80 years of age exceeding 1.2 million – growing faster than any other age group in some areas of the state. By 2030, older adults will make up 25 to 30 percent of the population in most New York counties.

New York State Department of Health Commissioner Dr. James McDonald said, “The Master Plan for Aging was created by New Yorkers, for New Yorkers, so we can age successfully and independently—on our terms—right here in New York.”

New York State Office for the Aging Director Greg Olsen said, “The final Master Plan for Aging is a true triumph of collective problem-solving. Under the vision of Governor Hochul, the MPA has brought together hundreds of the brightest and most accomplished minds from diverse fields and sectors – all contributing their talent to create this historic roadmap for an age-friendly New York. The Master Plan for Aging outlines over 100 proposals, each holding the promise to make a real difference in the lives of individuals as they age. Just as importantly, this document assesses the potential challenges, opportunities and pathways for action on each proposal, making it both visionary and practical. I applaud Governor Hochul, our state agency partners, the stakeholders and the public for their contributions to this historic outcome for older adults in New York State.”

New York Secretary of State Walter T. Mosley said, “Governor Hochul’s ongoing commitment to the lives of older New Yorkers is on full display with this comprehensive Master Plan for Aging, which will guide aging policy in the state well into the future. The way we plan and develop our communities has a tremendous impact on the health, safety and quality of life of older New Yorkers. The Department of State was proud to have played a pivotal role in the development of the Master Plan for Aging, with our partners at Department of Health and State Office for the Aging. We stand ready to support the next phase of plan implementation through our planning and development programs, like the Downtown Revitalization Initiative, NY Forward and Smart Growth, which create livable communities for people of all ages and abilities.”

Hundreds of stakeholders participated in a process of MPA workgroups to develop the MPA Final Report proposals. Organized into eight subcommittees and over 34 workgroups, the stakeholders coalesced around nine overarching pillars, which were:
- Affordability of Basic Necessities
- Informal Caregiver and Workforce Support and Modernization of Community-Based Aging Network Service
- Modernization and Financial Sustainability of Healthcare, Residential Facilities and Community-Based Aging Network Service Providers
- Prevention, Wellness Promotion and Access
- Housing Access and Community Development
- Access to Services in and Engagement with Historically Underserved Communities
- Social Engagement of Older Adults
- Combatting Elder Abuse, Ageism, Ableism and Stigma
- Technology Access and Development
The MPA builds upon New York’s status as a nation-leader in aging policy, as evidenced by New York’s designation as the first Age-Friendly State in the nation by AARP. This designation recognizes the State’s commitment to addressing “the environmental, economic and social factors that affect the health and well-being of older adults.”

The 100-plus proposals presented in the MPA Final Report explore multiple approaches that address the built environment and infrastructure, transportation and transit, financing of care and services, recruitment and retention of the long term care workforce, licensing and training, pilot initiatives that can bring together providers and community services, innovations in care and service delivery, public-private partnerships, and many more.

The MPA process is already having an impact. The FY 2026 Enacted State Budget includes $45 million in additional funds to expand community-based aging services offered through Area Agencies on Aging — a critical priority identified by the MPA. This funding will help to reduce waiting lists for services such as home-delivered meals, assistance from personal care aides for activities of daily living, transportation assistance, home adaptations, case management to assist with person-centered resources, and other community-based supports. Going forward, the MPA provides a range of strategies for state agencies, the Legislature, stakeholders and partners to consider as New York pursues policies, programs and collaborations that will benefit older adults and their families.

The MPA Final Report builds on the MPA Preliminary Report issued in August of 2023 and Interim Report issued in October of 2024.

The MPA Council, which is made up of New York State executive agencies, will continue to engage stakeholders from groups and communities across the State and coordinate efforts across state agencies to ensure that policy and programs supporting New York’s aging population are moving forward.

The Master Plan for Aging Final Report can be found here.

New York State Department of Health First Deputy Commissioner and Chief Medical Officer Dr. Eugene Heslin said, “The Master Plan for Aging Process brought together public and private sector stakeholders to discuss the factors that impact aging in our communities. The result is a compendium of suggested strategies to help focus state agencies, the legislature and private partners supporting New Yorkers as they age.”

State Senator Cordell Cleare said, “The planning process that gave rise to the MPA was truly a grassroots effort and labor of love by those who have dedicated their professional lives to empowering, protecting and prioritizing Older New Yorkers. I look forward to digging into the granular details–but more importantly, I welcome the opportunity to turn this plan into a comprehensive package of legislative solutions backed by permanent and recurring funding.”

Assembly Member Rebecca A. Seawright said, “Governor Hochul’s Final Report for the Master Plan for Aging serves as a critical blueprint for advancing affordability, expanding pathways to aging in place and elevating the system of care and quality of life for older New Yorkers. As Chair of Aging and Assembly Member of the largest cohort of older adults in Manhattan, I’m proud to partner with the Governor, Leader Stewart-Cousins, Speaker Heastie, Senate Aging Chair Cleare, legislative colleagues, advocates and stakeholders toward ensuring that aging New Yorkers have the equitable and affordable city and state that they deserve, that they have earned.”

MPA Coalition co-chairs Nora O’Brien-Suric and Bob Blancato said, “We commend Governor Hochul on the release of an historic and holistic Master Plan for Aging. The MPA Coalition is proud to be the largest stakeholder group advocating for the MPA. We now will shift our focus to helping ensure the priority recommendations in the plan are implemented in a timely manner.”

AARP New York State Director Beth Finkel said, “The Master Plan for Aging has created a valuable opportunity for stakeholders across New York to assess our current systems and propose policies that better support aging New Yorkers now and in the future. Governor Hochul is already making meaningful progress with the historic investment in aging services in the final state budget this year. The real challenge lies ahead as we work together to implement these proposals and turn this visionary plan into reality.”

Association on Aging in New York (AgingNY) Executive Director Rebecca Preve said, “As a key MPA stakeholder, the Association on Aging in New York contributed at multiple levels in the development of this pioneering roadmap of proposals to support older adults and create opportunities for successful aging in New York State. This process has already yielded game-changing outcomes, including additional funds in this year’s state budget for Area Agencies on Aging to meet locally determined needs for services. We look forward to supporting the MPA’s progress in partnership with stakeholders across sectors.”

Lifespan of Greater Rochester, Inc. President and CEO Ann Marie Cook said, “I applaud Governor Hochul for her Executive Order to create a New York State Master Plan for Aging and for her steadfast support of older New Yorkers. The process involved thousands of people – everyone from older adults, to aging service professionals, to family caregivers. The plan creates a critical roadmap to ensure that aging New Yorkers are able to live and thrive in our state. I am proud to have participated in this process and look forward to doing everything I can to implement this historic plan.”

ARCHANGELS CEO and Co-founder Alexandra Drane said, “All of us do it, whether we realize it or not: we care. In fact, over 40% of us across our nation are showing up in foundational ways for family, friends, neighbors. The intensity of that care is real – and it manifests in all aspects of our health and productivity. New York’s Master Plan for Aging marks a powerful shift: it recognizes this population as the economic backbone of New York State and elevates this often-invisible work as essential infrastructure. Through public-private partnerships like Any Care Counts-NY and the bold, cross-sector ideas in this truly comprehensive plan, New York is turning good intentions into real-world support and impact for caregivers and the people, businesses, and communities who rely on them. ARCHANGELS is honored to continue our long-term partnership with New York in this transformative work – because supporting caregivers isn’t just good policy, it’s smart economics, and it gets to the very heart of an age-friendly New York.”

ArchCare CEO Scott La Rue said, “Being a stakeholder in the development of the NYS Master Plan for Aging was a truly positive experience. The process was remarkably inclusive, offering multiple avenues for New Yorkers and their representatives to provide invaluable input. This forward-thinking document will undoubtedly guide the state effectively as its population of older adults continues to grow.”

VNS Health President and CEO Dan Savitt said, “Governor Hochul’s Master Plan for Aging is an essential step forward for New York, responding with deep clarity and vision to the demographic, economic, and health care realities of our time. As the state’s largest home- and community-based care provider, VNS Health is proud to have contributed to the Governor’s bold plan and will work collaboratively with the Administration to harness technology, strengthen partnerships, and expand access to care so that all older New Yorkers are able to age with the dignity, independence and support they deserve.”

LeadingAge New York President and CEO Sebrina Barrett said, “As the only statewide organization dedicated to the entire continuum of care for older New Yorkers, LeadingAge New York supports the MPA’s comprehensive approach to addressing the needs of older adults. With a growing population of older adults and a shrinking number of working-age caregivers, we need to act swiftly and decisively to ensure access to appropriate services and the necessary workforce to provide them. We welcome the report’s attention to innovative solutions, such as housing with services, and its proposals to address provider regulations and payment rules that limit access and fragment care. We are excited to continue the productive inter-agency and multi-stakeholder collaboration that has arisen from the MPA process, as we work to promote a high-quality continuum of care for older New Yorkers today and in the future.”

John A. Hartford Foundation President Terry Fulmer, PhD, RN, FAAN said, “Every New Yorker deserves to age with the support and care they need to maintain their health and well-being, and this statewide plan for aging moves us in the right direction. We applaud everyone involved in the creation of this robust blueprint for action and look forward to working with partners to prioritize and implement the proposed recommendations so that our state’s health systems and all sectors become age-friendly.”

MIL OSI USA News –
July 1, 2025

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