Category: Politics

MIL-OSI Russia: The All-Russian Student Olympiad in Applied Mechanics is being held at the Polytechnic University

Translartion. Region: Russians Fedetion –

Source: Peter the Great St Petersburg Polytechnic University – Peter the Great St Petersburg Polytechnic University –

The All-Russian Student Olympiad in Applied Mechanics with international participation has started in Saint Petersburg. The event is held with the support of the Ministry of Education and Science of Russia, the Association of Technical Universities and the Federal Educational and Methodological Association in the field of “Mechanical Engineering” at the Advanced Engineering School “Digital Engineering” of Peter the Great Saint Petersburg Polytechnic University (PISh SPbPU).

The All-Russian Student Olympiad in Applied Mechanics with international participation was held regularly from 1999 to 2020.

At the opening of the Olympiad in the Technopolis Polytech research building, the participants were greeted in a video message by the Minister of Science and Higher Education of the Russian Federation, Valery Falkov:

“Dear friends! Welcome to the All-Russian Student Olympiad in Applied Mechanics with International Participation. It is gratifying that after almost a five-year hiatus, we are reviving the platform for interaction between talented students and their mentors. I would like to express special gratitude to the Advanced Engineering School “Digital Engineering”, which organized this meeting within its hospitable walls. The profile of the Olympiad is of particular importance today in the context of strengthening Russia’s ties with its closest foreign partners in the scientific and technological sphere. Mechanics allows us to solve key problems in the creation of technologies and science-intensive products in many industries, including mechanical engineering and engine building, shipbuilding, aircraft manufacturing, medical and biomechanical systems. I am sure that the revival of the Olympiad will become one of the effective tools for supporting talented students. Friends, I wish you fruitful work, success and all the best!”

In 2025, the main goals of the revived All-Russian Student Olympiad in Applied Mechanics were to improve the academic and extracurricular work of students, develop deeper knowledge in the field of applied mechanics, develop creative activity and independent thinking, identify gifted students and develop human resources.

Vice-Governor of Saint Petersburg Vladimir Knyaginin conveyed his greetings to the participants, in which he also noted the contribution of Peter the Great Saint Petersburg Polytechnic University and the Advanced Engineering School of SPbPU “Digital Engineering” to the revival and development of the Olympiad: “The All-Russian Student Olympiad in Applied Mechanics is gaining particular relevance not only as a significant event in the personal and professional development of students. It also helps to synchronize watches and unite efforts in achieving common goals of technological development of representatives of the scientific and educational community, industry and government. It is no coincidence that this event is being held at the Advanced Engineering School of SPbPU “Digital Engineering” – one of the leaders of the corresponding federal project, which was previously part of the national project “Science and Universities”, and since 2025 has been implemented within the framework of the new national project “Youth and Children”. I am confident that participation in the Olympiad will give students a positive and useful experience, and it will become an important annual event in the world of training new generation engineers, developing advanced technologies and strengthening the technological leadership of our country. I thank the St. Petersburg Polytechnic for organizing the Olympiad and wish all its participants interesting tasks and success in finding new promising solutions!”

This year, 29 teams from the Republic of Belarus, Kazakhstan, Kyrgyzstan and Russia are participating in the Olympiad: Moscow, St. Petersburg, Arkhangelsk, Belgorod, Volgograd, Ivanovo, Kaliningrad, Samara, Tver, Tyumen, Chelyabinsk, Yaroslavl regions, Krasnoyarsk Krai, Perm Krai, Khabarovsk Krai.

“The advanced engineering school of SPbPU “Digital Engineering” has been training personnel for almost three years now, who will form the engineering elite of the country, the so-called engineering special forces. Therefore, the revival of the All-Russian Student Olympiad in Applied Mechanics, which has decades of history behind it, at the site of the SPbPU PISh – a modern and proven method of training engineering personnel in close cooperation with industrial partners – is a bright symbol that reflects the changes that are currently taking place in Russian engineering education in the broadest sense of the word. We see great interest in applied mechanics and potentially in engineering, including because teams from all over the country – from Kaliningrad to Khabarovsk, as well as students from foreign countries – participate in the Olympiad. I want to wish all participants success, and may the smartest win!” — the rector of Peter the Great St. Petersburg Polytechnic University, chairman of the St. Petersburg branch of the Russian Academy of Sciences Andrey Rudskoy announced the start of the Olympiad.

The All-Russian Student Olympiad in Applied Mechanics with International Participation is held in person and includes two blocks: theoretical and practical. In the theoretical block, participants are offered six problems to solve: three on the strength of materials and three on theoretical mechanics. Each problem will be assessed by an expert jury on a 10-point scale. The topics of the problems on the strength of materials include: tension-compression, bending and complex resistance. On theoretical mechanics: statics, kinematics and dynamics.

The practical block is a wide range of events that will allow the Olympiad participants to immerse themselves in the world of modern digital engineering. Thus, students will be able to take part in master classes on the use of domestic software packages for solving computer modeling problems from leading Russian vendors of engineering software: APM (STC “APM”), FlowVision (OOO “Tesis”), “Logos” (FSUE “RFNC-VNIIEF”).

Participants will be able to try their hand at the engineering championship, as well as visit leading high-tech industry enterprises such as Gazprom Neft Scientific and Technical Center and CentroTech-Engineering (part of the management structure of the Fuel Company JSC TVEL of Rosatom State Corporation) and get acquainted with their activities. In addition, Olympiad participants will visit the new laboratories of the Advanced Engineering School of SPbPU. An extensive cultural and entertainment program has been organized for the guests.

The results of the Olympiad will be announced on April 25, 2025. The Olympiad website is HTTPS: // Applied-Mechanics.ru/

Please note: This information is raw content directly from the source of the information. It is exactly what the source states and does not reflect the position of MIL-OSI or its clients.

MIL OSI Russia News –

April 24, 2025
MIL-OSI: EY US Unveils Balaji Sreenivasan of Aurigo Software as an Entrepreneur Of The Year® 2025 Finalist

Source: GlobeNewswire (MIL-OSI)

AUSTIN, Texas, April 23, 2025 (GLOBE NEWSWIRE) — Ernst & Young LLP (EY US) announced the finalists for the prestigious Entrepreneur Of The Year® 2025 Gulf South Award. Now in its 40th year, the Entrepreneur Of The Year program celebrates the bold leaders who disrupt markets through the world’s most groundbreaking companies, revolutionizing industries and making a profound impact on communities. The program honors bold entrepreneurs whose innovations shape the future and pave the way for a thriving economy and a hopeful tomorrow.

The Gulf South program celebrates entrepreneurs from Central and South Texas, Louisiana, and Mississippi. An independent panel of judges selected Balaji Sreenivasan for his entrepreneurial spirit, purpose, growth, and lasting impact in building long-term value.

“Building Aurigo has been one of the greatest joys of my life. Entrepreneurship, to me, is about solving meaningful problems and creating something that lasts. We’re building AI-powered software that’s transforming how the world plans and delivers infrastructure, and I’m grateful every day to work with such a brilliant, passionate team. This recognition is really a reflection of our team and what we’ve built together.”

— Balaji Sreenivasan, Founder and CEO, Aurigo Software Technologies Inc.

Aurigo Software is a leading AI-powered software company that helps infrastructure and facility owners around the world plan and build better. With a vision to build a better tomorrow, Aurigo’s platform supports some of the largest capital improvement and infrastructure programs globally, transforming how critical assets are managed, delivered, and optimized.

Entrepreneur Of The Year honors business leaders for their ingenuity, courage, and entrepreneurial spirit. The program celebrates original founders who bootstrapped their business from inception or who raised outside capital to grow their company; transformational CEOs who infused innovation into an existing organization to catapult its trajectory; and multigenerational family business leaders who reimagined a legacy business model to strengthen it for the future.

Regional award winners will be announced on June 12 during a special celebration in Houston and will become lifetime members of an esteemed community of Entrepreneur Of The Year alumni from around the world. The winners will then be considered by the National judges for the Entrepreneur Of The Year National Awards, which will be presented in November at the annual Strategic Growth Forum^®, one of the nation’s most prestigious gatherings of high-growth, market-leading companies.

Sponsors
Founded and produced by Ernst & Young LLP, the Entrepreneur Of The Year Awards include presenting sponsors PNC Bank, Cresa, LLC, Marsh McLennan Agency, and SAP. In the Gulf South, sponsors also include Platinum sponsors ADP, DFIN, DLA Piper, and VCFO and Silver sponsors Big Picture and Pierpont Communications.

About Entrepreneur Of The Year
Founded in 1986, Entrepreneur Of The Year has celebrated more than 11,000 ambitious visionaries who are leading successful, dynamic businesses in the US, and it has since expanded to nearly 60 countries globally.

The US program consists of 17 regional programs whose panels of independent judges select the regional award winners every June. Those winners compete for national recognition at the Strategic Growth Forum® in November, where National finalists and award winners are announced. The overall National winner represents the US at the EY World Entrepreneur Of The Year™ competition. Visit www.ey.com/us/eoy.

About EY
EY is building a better working world by creating new value for clients, people, society and the planet, while building trust in capital markets.

Enabled by data, AI and advanced technology, EY teams help clients shape the future with confidence and develop answers for the most pressing issues of today and tomorrow.

EY teams work across a full spectrum of services in assurance, consulting, tax, strategy, and transactions. Fueled by sector insights, a globally connected, multi-disciplinary network, and diverse ecosystem partners, EY teams can provide services in more than 150 countries and territories.

All in to shape the future with confidence.

EY refers to the global organization, and may refer to one or more of the member firms of Ernst & Young Global Limited, each of which is a separate legal entity. Ernst & Young Global Limited, a UK company limited by guarantee, does not provide services to clients. Information about how EY collects and uses personal data and a description of the rights individuals have under data protection legislation are available via ey.com/privacy. EY member firms do not practice law where prohibited by local laws. For more information about our organization, please visit www.ey.com.

About Aurigo Software
Aurigo builds software that helps build the world. Aurigo provides modern, cloud-based solutions for capital infrastructure and private owners to help them plan with confidence and build with quality. With more than $450 billion of capital programs under management, Aurigo’s solutions are trusted by over 300 customers in transportation, water and utilities, healthcare, higher education, and the government, with over 40,000 projects across North America. Aurigo helps capital program executives make better decisions based on proprietary artificial intelligence and machine learning technology. Aurigo is a privately held U.S. corporation headquartered in Austin, Texas, with global offices in Canada and India. Learn more at www.aurigo.com.

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/be9703fc-711e-48cb-a5d5-8ea80e2a73de

The MIL Network –

April 24, 2025
MIL-OSI: Civic Roundtable is key facet of New Jersey’s Bringing Veterans Home Initiative

Source: GlobeNewswire (MIL-OSI)

BOSTON, April 23, 2025 (GLOBE NEWSWIRE) — Civic Roundtable, the Government Operations Platform connecting public servants with the people and answers they need to achieve their mission, announced it is a foundational aspect of the New Jersey Bringing Veterans Home (BVH) initiative.

Bringing Veterans Home is led by the New Jersey Department of Community Affairs (DCA) and Department of Military and Veterans Affairs (DMAVA) and “seeks to house all homeless veterans in the state by July 1, 2026, while strengthening the State’s homelessness prevention system so that any newly homeless veteran can be placed in stable housing within one month.”

As part of convening the BVH initiative in March 2025, daily use of Civic Roundtable’s government operations platform is required for all organizations seeking grant funding to end veteran homelessness in New Jersey.

“We know government work is inherently collaborative. Addressing a problem like homelessness requires government agencies and partner organizations to effectively work together, but historically, the technology and tools that are supposed to help public servants are failing them,” said Madeleine Smith, CEO and co-founder of Civic Roundtable. “We built Civic Roundtable to power complex interagency efforts, help public servants be more efficient, and help agencies achieve their mission. We’re humbled and honored to be part of the solution to end veteran homelessness in New Jersey.”

Acting Governor Tahesha Way announced the launch of Bringing Veterans Home on Veterans Day, November 11, 2024. The State has prepared more than $30 million in State and federal funds to help house veterans experiencing homelessness. The initiative also represents the first time the State of New Jersey has formally partnered with veteran service organizations to house homeless veterans.

“I’ve said it before — success requires collaboration. It is non-negotiable to address problems like homelessness,” said Michael Callahan, Director of the Office of Homelessness Prevention at the Department of Community Affairs. “Expertise can be found anywhere. Resources, best practices, and answers to mission-critical questions are spread across organizations. Roundtable brings everyone working on this challenge together, making us all more effective, efficient, and ultimately better at achieving our mission of eliminating veteran homelessness by July 1, 2026.”

New Jersey joins Connecticut, Oregon, South Carolina, and Alaska as the fifth state to partner with Civic Roundtable in the fight against homelessness.

About Civic Roundtable
Civic Roundtable is a government operations platform purpose-built for local, state, and federal government agencies and their partner organizations. Founded by a team with extensive government experience and the belief that the public sector is a force for good, Civic Roundtable is the foundational technology for a more integrated and effective government.

With Roundtable, wide networks of government agencies and partner organizations can consolidate existing data repositories and disseminate mission-critical information in real time. This facilitates government collaboration by empowering public servants with the information, answers, and peer expertise they need, when and how they need it, to serve their communities.

Backed by General Catalyst and currently serving approximately 600 cities and counties that represent 70 million people, the company emerged from the Harvard Innovation Labs to modernize how millions of government workers across 90,000 agencies achieve their mission. Roundtable is built on AWS GovCloud.

Contact
Civic Roundtable
press@CivicRoundtable.com

The MIL Network –

April 24, 2025
MIL-OSI: Decisions of Sampo plc’s Annual General Meeting
Source: GlobeNewswire (MIL-OSI)

Sampo plc, stock exchange release, 23 April 2025 at 4:05 pm EEST

Decisions of Sampo plc’s Annual General Meeting

The Annual General Meeting of Sampo plc, held today on 23 April 2025, approved all the proposals made to the Annual General Meeting (AGM) by the Board of Directors and its Committees, including distribution of dividend of EUR 0.34 per share for 2024.

The AGM adopted the financial accounts for 2024 and discharged the members of the Board of Directors and CEO from liability for the financial year ending 31 December 2024. The AGM authorised the Board of Directors to decide on share repurchases.

Including proxy representatives, there were altogether 1,746,933,448 shares (64.91 per cent of all shares) and 1,750,933,448 votes (64.96 per cent of all votes) in the company represented at the AGM.

Dividend payment

The AGM decided to distribute a dividend of EUR 0.34 per share for 2024. The dividend will be paid to the shareholders registered in the company’s shareholders register maintained by Euroclear Finland Oy or VP Securities A/S in Denmark, and to the holders of the Swedish depository receipts (SDRs) registered in the securities depository and settlement register maintained by Euroclear Sweden AB, as at the record date of 25 April 2025.

The dividend will be paid to the shareholders and holders of the share entitlements on 6 May 2025 and to the SDR holders on 8 May 2025.

Election and remuneration of the Board members

The number of Board members was decreased by one to eight members. Christian Clausen, Steve Langan, Risto Murto, Antti Mäkinen, Markus Rauramo, Astrid Stange and Annica Witschard were re-elected for a term continuing until the close of the next Annual General Meeting. Sara Mella was elected as a new member to the Board. Of the previous members, Georg Ehrnrooth and Jannica Fagerholm were not available for re-election.

At its organisational meeting, the Board elected Antti Mäkinen as Chair and Risto Murto as Vice Chair.

All Board members have been determined to be independent of the Company and its major shareholders under the rules of the Finnish Corporate Governance Code 2025. The CVs of the Board members are available at www.sampo.com/board.

The AGM decided on the following annual fees to the members of the Board of Directors until the close of the next AGM:
- EUR 243,000 for the Chair of the Board (prev. EUR 235,000);
- EUR 140,000 for the Vice Chair of the Board (prev. EUR 135,000);
- EUR 108,000 for each member of the Board (prev. EUR 104,000);
- EUR 30,000 for the Chair of the Audit Committee as an additional annual fee (prev. EUR 29,000); and
- EUR 6,800 for each member of the Audit Committee as an additional annual fee (prev. EUR 6,600).
A Board member must acquire Sampo plc A shares at the price paid in public trading with 50 per cent of his/her annual fee after the deduction of taxes, payments and potential statutory social and pension costs. Notwithstanding this, a Board member is not required to purchase any additional Sampo plc A shares if the Board member owns such amount of said shares that their value is equivalent to twice the respective Board member’s gross annual fee. The Company will pay any possible transfer tax related to the acquisition of the shares.

Election and remuneration of the auditor and of the Sustainability Reporting Assurer Provider

The Authorised Public Accountant Firm and Authorised Sustainability Audit Firm Deloitte Ltd was re-elected as the Company’s auditor and Sustainability Reporting Assurance Provider for the financial year 2025. APA ASA Jukka Vattulainen will continue as the auditor with principal responsibility and the principal authorised sustainability auditor. Company’s Auditor and the Sustainability Reporting Assurance Provider will be paid compensation against invoices approved by the Company.

Remuneration Report for Governing Bodies

Sampo’s Remuneration Report for Governing Bodies was adopted through an advisory resolution.

Authorisation on share repurchases

The AGM authorised the Board to resolve to repurchase, on one or several occasions, a maximum of 250,000,000 Sampo plc A shares. The maximum number of shares represents approximately 9.29 per cent of all outstanding A shares of the company. The repurchased shares will be cancelled.

The authorisation will be valid until the close of the next AGM, however, no longer than 18 months from the AGM’s decision.

AGM materials

The proposals approved by the AGM are available in their entirety at Sampo’s website at www.sampo.com/agm. The Remuneration Report for Governing Bodies is available at www.sampo.com/year2024.

The minutes of the Annual General Meeting will be available for viewing at www.sampo.com/agm and at Sampo plc’s head office at Fabianinkatu 27, Helsinki, Finland, by the end of 7 May 2025.

SAMPO PLC

For further information, please contact:

Sami Taipalus
Head of Investor Relations
tel. +358 10 516 0030

Maria Silander
Communications Manager, Media Relations
tel. +358 10 516 0031

Distribution:
Nasdaq Helsinki
Nasdaq Stockholm
Nasdaq Copenhagen
London Stock Exchange
FIN-FSA
The principal media
www.sampo.com

The MIL Network –
April 24, 2025
MIL-OSI USA: Law Library Publishes New Report, “Minimum Wages for Seafarers on Foreign-Registered Vessels”

Source: US Global Legal Monitor

The staff of the Global Legal Research Directorate of the Law Library of Congress has recently completed a comparative report examining the laws of countries around the globe to identify those that have adopted specific requirements regarding foreign seafarers’ wages. Out of 84 jurisdictions surveyed, only four, Australia, France, the Netherlands, and the United Kingdom, passed legislation affecting foreign seafarers’ wages, with Norway having pending legislation.

According to the report, Minimum Wages for Seafarers on Foreign-Registered Vessels, the implementation of wage requirements in the countries identified was conditioned upon certain geographical requirements and/or the existence of a nexus between the government and the vessel’s operating service in terms of the number of landings in the country’s ports or between the seafarer and the country.

The report contains individual country surveys of the scope of application and the type of required wages in the countries where wage requirements for seafarers on foreign-registered vessels exist. In addition, the report contains information on recommended international law standards and a table summarizing the findings and providing citations to laws and pending legislation.

We invite you to review the information provided in our report, here.

The report is an addition to the Law Library’s Legal Reports (Publications of the Law Library of Congress) collection, which includes over 4,000 historical and contemporary legal reports covering a variety of jurisdictions, researched and written by foreign law specialists with expertise in each area. To receive alerts when new reports are published, you can subscribe to email updates and the RSS feed for Law Library Reports (click the “subscribe” button on the Law Library’s website). The Law Library also regularly publishes articles related to wages and hours in the Global Legal Monitor.

Subscribe to In Custodia Legis – it’s free! – to receive interesting posts drawn from the Law Library of Congress’s vast collections and our staff’s expertise in U.S., foreign, and international law.

MIL OSI USA News –

April 24, 2025
MIL-OSI: ACNB Corporation Announces Second Quarter Cash Dividend

Source: GlobeNewswire (MIL-OSI)

GETTYSBURG, Pa., April 23, 2025 (GLOBE NEWSWIRE) — ACNB Corporation (NASDAQ: ACNB), financial holding company for ACNB Bank and ACNB Insurance Services, Inc., announced today that the Board of Directors approved and declared a regular quarterly cash dividend of $0.34 per share of ACNB Corporation common stock payable on June 13, 2025, to shareholders of record as of May 30, 2025. This per share amount reflects a 6.25% increase over the $0.32 per share paid in the first quarter of 2025.

“The ACNB Board of Directors’ dividend declaration of $0.34 per share furthers our commitment to delivering shareholder value, and continues ACNB’s longstanding history of rewarding its shareholders with quarterly cash dividends for decades,” said James P. Helt, ACNB Corporation President & Chief Executive Officer. “The Board’s decision to increase the quarterly dividend represents our confidence in ACNB’s financial strength and long-term growth and profitability prospects. Notably, this is the fifth consecutive calendar year in which ACNB has increased the quarterly cash dividend amount. Since 2017, we have increased our quarterly cash dividend by 70%, from $0.20 to $0.34 per share.”
ACNB Corporation, headquartered in Gettysburg, PA, is the independent $3.26 billion financial holding company for the wholly-owned subsidiaries of ACNB Bank, Gettysburg, PA, and ACNB Insurance Services, Inc., Westminster, MD. Originally founded in 1857, ACNB Bank serves its marketplace with banking and wealth management services, including trust and retail brokerage, via a network of 33 community banking offices and one loan office located in the Pennsylvania counties of Adams, Cumberland, Franklin, Lancaster and York and the Maryland counties of Baltimore, Carroll and Frederick. ACNB Insurance Services, Inc. is a full-service insurance agency with licenses in 46 states. The agency offers a broad range of property, casualty, health, life and disability insurance serving personal and commercial clients through office locations in Westminster, MD and Gettysburg, PA. For more information regarding ACNB Corporation and its subsidiaries, please visit investor.acnb.com.

FORWARD-LOOKING STATEMENTS – In addition to historical information, this press release may contain forward-looking statements. Examples of forward-looking statements include, but are not limited to, (a) projections or statements regarding future earnings, expenses, net interest income, other income, earnings or loss per share, asset mix and quality, growth prospects, capital structure, and other financial terms, (b) statements of plans and objectives of Management or the Board of Directors, and (c) statements of assumptions, such as economic conditions in the Corporation’s market areas. Such forward-looking statements can be identified by the use of forward-looking terminology such as “believes”, “expects”, “may”, “intends”, “will”, “should”, “anticipates”, or the negative of any of the foregoing or other variations thereon or comparable terminology, or by discussion of strategy. Forward-looking statements are subject to certain risks and uncertainties such as national, regional and local economic conditions, competitive factors, and regulatory limitations. Actual results may differ materially from those projected in the forward-looking statements. Such risks, uncertainties, and other factors that could cause actual results and experience to differ from those projected include, but are not limited to, the following: short-term and long-term effects of inflation and rising costs on the Corporation, customers and economy; effects of governmental and fiscal policies, as well as legislative and regulatory changes; effects of new laws and regulations (including laws and regulations concerning taxes, banking, securities and insurance) and their application with which the Corporation and its subsidiaries must comply; impacts of the capital and liquidity requirements of the Basel III standards; effects of changes in accounting policies and practices, as may be adopted by the regulatory agencies, as well as the Financial Accounting Standards Board and other accounting standard setters; ineffectiveness of the business strategy due to changes in current or future market conditions; future actions or inactions of the United States government, including the effects of short-term and long-term federal budget and tax negotiations and a failure to increase the government debt limit or a prolonged shutdown of the federal government; effects of economic conditions particularly with regard to the negative impact of any pandemic, epidemic or health-related crisis and the responses thereto on the operations of the Corporation and current customers, specifically the effect of the economy on loan customers’ ability to repay loans; effects of competition, and of changes in laws and regulations on competition, including industry consolidation and development of competing financial products and services; inflation, securities market and monetary fluctuations; risks of changes in interest rates on the level and composition of deposits, loan demand, and the values of loan collateral, securities, and interest rate protection agreements, as well as interest rate risks; difficulties in acquisitions and integrating and operating acquired business operations, including information technology difficulties; challenges in establishing and maintaining operations in new markets; effects of technology changes; effects of general economic conditions and more specifically in the Corporation’s market areas; failure of assumptions underlying the establishment of reserves for loan losses and estimations of values of collateral and various financial assets and liabilities; acts of war or terrorism or geopolitical instability; disruption of credit and equity markets; ability to manage current levels of impaired assets; loss of certain key officers; ability to maintain the value and image of the Corporation’s brand and protect the Corporation’s intellectual property rights; continued relationships with major customers; and, potential impacts to the Corporation from continually evolving cybersecurity and other technological risks and attacks, including additional costs, reputational damage, regulatory penalties, and financial losses. We caution readers not to place undue reliance on these forward-looking statements. They only reflect Management’s analysis as of this date. The Corporation does not revise or update these forward-looking statements to reflect events or changed circumstances. Please carefully review the risk factors described in other documents the Corporation files from time to time with the SEC, including the Annual Reports on Form 10-K and Quarterly Reports on Form 10-Q. Please also carefully review any Current Reports on Form 8-K filed by the Corporation with the SEC.

ACNB #2025-9
April 23, 2025

Contact: Kevin J. Hayes

SVP/General Counsel,

Secretary & Chief

Governance Officer

717.339.5161

khayes@acnb.com

The MIL Network –

April 24, 2025
MIL-Evening Report: Albanese government announces $1.2 billion in plan to purchase critical minerals
Source: The Conversation (Au and NZ) – By Michelle Grattan, Professorial Fellow, University of Canberra

A re-elected Albanese government will take the unprecedented step of buying or obtaining options over key critical minerals to protect Australia’s national interest and boost its economic resilience.

The move follows US President Donald Trump’s ordering a review into American reliance on imported processed critical minerals and Australia’s discussions with the United States about a possible agreement on these minerals as part of negotiations to get a better deal on US tariffs.

Australia has major deposits of critical minerals and rare earths. But almost all the processing of critical minerals is done by China, which uses this as leverage in disputes with other countries. As part of its tariff dispute with the US, China this month suspended exports of a wide range of critical minerals and magnets.

Critical minerals are vital in the production of many items, including defence equipment, batteries, electronics, fibre optic cables, electric vehicles, magnets and wind turbines.

Prime Minister Anthony Albanese flagged recently that Australia would establish a critical minerals reserve and the government has now released details of its plan.

The government investment in critical minerals would come through two new mechanisms:
- national offtake agreements
- selective stockpiling
The government would acquire, through voluntary contracts, agreed volumes of critical minerals from commercial projects, or establish an option to purchase them at a given price.

It would also establish a government stockpile of key minerals produced under offtake agreements.

“The primary consideration for entering into offtake agreements will be securing priority critical minerals for strategic reasons,” the government said in a statement.

Minerals held by the reserve would be made available to domestic industry and key international partners.

This would cover a deal with the US, if that can be reached.

“The Reserve will be focused on a subset of critical minerals that are most important for Australia’s national security and the security of our key partners, including rare earths,” the statement said.

As its holdings matured, the reserve would generate cash-flow from sales of offtake on global markets and to key partners, the statement said.

“The Strategic Reserve will also accumulate stockpiles of priority minerals when warranted by market conditions and strategic considerations, but it is anticipated that these will be modest and time-limited in most cases.”

The government would make an initial investment of $1.2 billion in the reserve, including through a $1 billion increase in the existing Critical Minerals Facility. This would take the government’s investment in the facility to $5 billion.

The facility, established in 2021, provides financing to selected projects that are aligned with the government’s critical minerals strategy.

The government plans to consult with states and companies on the scope and design on the Strategic Reserve, which it would aim to have operating in the second half of next year.

ALbanese said: “In a time of global uncertainty, Australia will be stronger and safer by developing our critical national assets to create economic opportunity and resilience.

“The Strategic Reserve will mean the government has the power to purchase, own and sell critical minerals found here in Australia.

“It will mean we can deal with trade and market disruptions from a position of strength. Because Australia will be able to call on an internationally-significant quantity of resources in global demand.”

Resources Minister Madeleine King said: “Critical minerals and rare earths and essential not only to reducing emissions but also for our security and the security of our key partners.

“While we will continue to supply the world with critical minerals, it’s also important that Australia has access to the critical minerals and rare earths we need for a Future Made in Australia.”

Michelle Grattan does not work for, consult, own shares in or receive funding from any company or organisation that would benefit from this article, and has disclosed no relevant affiliations beyond their academic appointment.

– ref. Albanese government announces $1.2 billion in plan to purchase critical minerals – https://theconversation.com/albanese-government-announces-1-2-billion-in-plan-to-purchase-critical-minerals-254994
MIL OSI Analysis – EveningReport.nz –
April 24, 2025
MIL-OSI Global: Harvard is suing the White House: here’s what Trump hopes to achieve by targeting universities

Source: The Conversation – UK – By Thomas Gift, Associate Professor and Director of the Centre on US Politics, UCL

A few days ago, in a move that attracted international attention, the White House threatened to strip Harvard University of US$2 billion (£1.5 billion) in federal funding, potentially revoke its tax-exempt status and even prevent it from enrolling international students if it didn’t capitulate to a new list of demands.

The five-page ultimatum reads like a political ransom note. It calls on Harvard to make major “governance reform” including enforcing “viewpoint diversity” in admissions and hiring, squashing diversity, equity and inclusion (DEI) initiatives, and more screening of foreign student applicants for their beliefs and reporting those who commit “conduct violations” to authorities.

Now, the White House says it was all a big misunderstanding – that the letter was “unauthorized” and that it was Harvard’s fault for not recognising the mistake. Instead of “pick[ing] up the phone … Harvard went on a victimhood campaign,” said a senior policy strategist for Trump in the New York Times. Never mind, as Harvard noted, that the letter was signed by three federal officials and printed on official letterhead.

But the war between the White House and Harvard is far from over. Trump is likely to be in it for the long game and have many more plays to make.

On Monday, Harvard announced it was suing the Trump administration for its prior threat to axe the school’s funding – a move Harvard said would have “severe and long-lasting” effects.

Harvard’s huge US$50 billion endowment gives it the ability to absorb federal spending cuts in a way that even other wealthy US universities can’t. Yet the university’s leadership still says that it would need to make draconian slashes to its research and student programming if federal cuts happened.

“We are going to choke off the money to schools that aid the Marxist assault on our American heritage and on Western civilization itself,” Trump has previously stated, hinting at his wider project to wield power over universities and significantly change the way they operate.

Part of a bigger plan

It’s not just Harvard that’s facing the heat — although as the nation’s most prestigious and high-profile university, its decisions will set the tone for the rest of the sector. More than 40 universities across the US are under investigation by the Trump administration, including for alleged illicit actions by DEI offices and charges of tolerating anti-semitism.

Another Ivy League university, Columbia in New York, for example, has caved to Trump’s demands as a precondition for restoring US$400 million in federal grants, with one group alleging that the cuts constitute an existential “gun to the head”. Johns Hopkins University, in Maryland, has seen at least US$800 million in federal spending cut, forcing the school to slash more than 2,000 jobs.

J.D. Vance outlines his views on US universities.

It’s hard to overstate the backlash. Princeton president Christopher Eisgruber has called Trump’s latest moves “the greatest threat to American universities since the Red Scare of the 1950s”. Political analyst Fareed Zakaria believes that the Trump White House is waging a version of Mao Zedong’s Cultural Revolution, when the Chinese leader took control of China’s leading universities.

“No government — regardless of which party is in power — should dictate what private universities can teach, whom they can admit and hire, and which areas of study and inquiry they can pursue,” said Harvard president Alan Garber.

Trump’s attacks on universities follow a blueprint: identify institutions seen as elite, liberal and out of touch, and undercut their legitimacy relentlessly.

The current crackdown fits a broader pattern, which includes the dismantling of the US Agency for International Development, seen as a soft target when many Americans think the country spends too much on foreign aid, and swipes at some of the nation’s top law firms, cast by Trump as part of an out-of-control, “rigged” legal system.

Perhaps the only question is why the Trump administration didn’t come after universities sooner. As CNN’s Stephen Collinson has noted: “Harvard University is such a perfect foil for Trumpism that it’s a wonder it avoided the MAGA maelstrom for so long.”

Recent campus unrest and rising concerns over anti-semitism — spotlighted by a trio of controversial congressional testimonies by the presidents of Harvard, MIT, and the University of Pennsylvania in 2023 — have provided a convenient political opening for Maga crusaders. However, Trump’s latest tirade almost certainly has less to do with principle than political opportunity.

Recent polling from Gallup shows that trust in higher education has plummeted since roughly the first time Trump ran for president. In 2015, 57% of Americans possessed “a great deal” or “quite a lot” of confidence in higher education. Today, that number is just 36%. For Republicans, those numbers have dropped even more sharply, from 56% to 20%.

There’s plenty of speculation about what’s driving these figures, but most are inextricably linked to partisan politics. Harvard Law School’s Jack Goldsmith and Adrian Vermeuele say that elite colleges have made it easy for conservatives to dislike them, and should reflect on why.

Critiques of academia include accusations that faculties and student bodies tilt far to the left. At Harvard, for example, just 3% of professors identify as conservative, and 13% of recent graduates.

These charges coincide with allegations of illiberal student “mobs” who shout down and heckle speakers and refuse to allow dissenting opinions. According to the Foundation for Individual Rights and Expression, for instance, Harvard is at the bottom of the table – scoring zero out of 100 – in its annual college free speech ranking.

Adding to the controversy are claims that DEI offices have gone “too far” in inculcating a “oppressor-oppressed” mentality on campuses. The Trump administration views universities as ground-zero of the broader DEI trend that proliferated in the public and private sector during the Biden years.

Declining trust in universities has doubtlessly been exacerbated by Maga rhetoric. Before being elected, Vice-President J.D. Vance announced that “the professors are the enemy”. Marc Lampkin, a longtime Republican strategist, said that “Republicans believe that … universities are the training ground for left, progressive camps”.

That Harvard sits on a US$50 billion endowment, even as it takes advantage of tax benefits as a nonprofit, strikes many in the Trump camp as unfair.

The clash between Harvard and the White House is laying the groundwork for a high-stakes showdown, pitting academia’s defenders against the Magaverse. Yet it’s possible to believe two things at once: that universities do suffer from some, even many, of the ailments that Trump has alleged; and that Trump’s onslaught against higher education is strategically misguided, politically motivated and aimed at putting universities under the president’s thumb.

Thomas Gift teaches an annual course in the Harvard Summer School, and worked full-time at the Harvard Kennedy School in 2015-16.

– ref. Harvard is suing the White House: here’s what Trump hopes to achieve by targeting universities – https://theconversation.com/harvard-is-suing-the-white-house-heres-what-trump-hopes-to-achieve-by-targeting-universities-254850

MIL OSI – Global Reports –

April 24, 2025
MIL-OSI USA: NIH researchers supercharge ordinary clinical device to get a better look at the back of the eye

Source: US Department of Health and Human Services – 2

News Release
Wednesday, April 23, 2025

New technique brings retina into sharper focus .

Scientists at the National Institutes of Health (NIH) have leveraged artificial intelligence to transform a device designed to see tissues in the back of the eye into one sharp enough to make out individual cells. The technique provides imaging resolution that rivals the most advanced devices available and is cheaper, faster, and doesn’t require specialized equipment or expertise. The strategy has implications for early detection of disease and for the monitoring of treatment response by making what was once invisible now visible.
“AI potentially puts next-generation imaging in the hands of standard eye clinics. It’s like adding a high-resolution lens to a basic camera.” said Johnny Tam, Ph.D., investigator at NIH’s National Eye Institute and senior author of the study report, which published in Communications Medicine.
Imaging devices, known as ophthalmoscopes, are widely used to examine the light-sensing retina in the back of the eye. A scanning laser ophthalmoscope is standard in eye clinics, but its resolution can only make out structures at the tissue level—things such as lesions, blood vessels, and the optic nerve head. Next-generation ophthalmoscopes enabled with adaptive optics—a technology that compensates for light distortion—can make out cellular features, providing greater diagnostic information. However, adaptive optics-enabled imaging is still in the experimental phase.
Tam and collaborators developed a custom AI system to digitally enhance images of a layer of tissue beneath the light-sensing photoreceptors, known as the retina’s pigmented epithelium (RPE). The first step was to teach the system to recognize image quality as poor, moderate, or good. The researchers did this by feeding the system more than 1,400 images from different areas of the retina, obtained using adaptive-optics ophthalmoscopy. Next, they fed the system corresponding images from the same retinal locations but obtained using standard ophthalmoscopy. An image sharpness test showed that AI improved clarity eightfold.
“Our system used what it learned from rating the images obtained from adaptive optics to digitally enhance images obtained with standard ophthalmoscopy,” said Tam. “It’s important to point out that the system is not creating something from nothing. Features that we see in RPE cells with standard imaging are there, they’re just unclear.”
These techniques involve injection of a dye called indocyanine green (ICG) into the bloodstream to increase contrast of anatomical features. In the eye clinic, ICG is usually used to image the blood vessels of the eye.
“Our ICG imaging strategy allows RPE cells to be quickly and routinely assessed in the clinic,” said Joanne Li, Ph.D., first author of the report and a biomedical engineer in Tam’s lab. “With AI, high quality images of the RPE cells can be obtained in a matter of seconds, using standard clinical imaging instruments.”
The RPE cells’ function is to nourish and support photoreceptors. A variety of blinding conditions first affect RPE cells, including age-related macular degeneration, vitelliform macular dystrophy, and Stargardt disease. However, RPE cells cannot be easily imaged in the clinic. AI-enhanced ICG ophthalmoscopy puts RPE imaging within reach of the typical eye clinic.##
This press release describes a basic research finding. Basic research increases our understanding of human behavior and biology, which is foundational to advancing new and better ways to prevent, diagnose, and treat disease. Science is an unpredictable and incremental process— each research advance builds on past discoveries, often in unexpected ways. Most clinical advances would not be possible without the knowledge of fundamental basic research. To learn more about basic research, visit https://www.nih.gov/news-events/basic-research-digital-media-kit.
NEI leads the federal government’s efforts to eliminate vision loss and improve quality of life through vision research…driving innovation, fostering collaboration, expanding the vision workforce, and educating the public and key stakeholders. NEI supports basic and clinical science programs to develop sight-saving treatments and to broaden opportunities for people with vision impairment. For more information, visit https://www.nei.nih.gov.
About the National Institutes of Health (NIH): NIH, the nation’s medical research agency, includes 27 Institutes and Centers and is a component of the U.S. Department of Health and Human Services. NIH is the primary federal agency conducting and supporting basic, clinical, and translational medical research, and is investigating the causes, treatments, and cures for both common and rare diseases. For more information about NIH and its programs, visit www.nih.gov.
NIH…Turning Discovery Into Health®

References
Li J, Liu J, Das V, Le H, Aguilera N, Bower Aj, Giannini JP, Lu R, Abouassali S, Chew EY, Brooks BP, Zein WM, Huryn LA, Volkov A, Liu T, Tam J “Artificial intelligence assisted clinical fluorescence imaging achieves in vivo cellular resolution comparable to adaptive optics ophthalmology”. Published April 28, 2025, Communications Medicine

###

MIL OSI USA News –

April 24, 2025
MIL-OSI: Siebert Financial Expands Executive Team with New CMO Stefano Marrone

Source: GlobeNewswire (MIL-OSI)

MIAMI and NEW YORK, April 23, 2025 (GLOBE NEWSWIRE) — Siebert Financial Corp. (NASDAQ: SIEB), a diversified financial services company, has appointed Stefano Marrone as Chief Marketing Officer. Marrone will direct marketing for all divisions (including Siebert.Valor, Siebert.SPS, and Gebbia Media) to advance the firm’s mission of delivering “Financial Freedom for Everyone.” A key focus of his role will be bringing media production and financial literacy together, leveraging the unique presence of Gebbia Media within Siebert Financial.

In 2024, Marrone led Siebert Financial’s successful rebrand and rolled out a modernized website as a consultant, working closely with Siebert’s leadership. That initiative drove notable brand growth and client engagement. He brings extensive experience collaborating with leading financial institutions such as J.P. Morgan, UBS Asset Management, and HSBC, as well as tech giants Google and Meta. Marrone also founded and exited a content agency, demonstrating an entrepreneurial spirit that fuels bold marketing and strategic thinking.

“Stefano’s ability to deliver fresh thinking has already energized Siebert Financial,” said John J Gebbia, CEO of Siebert Financial. “He helped spark our rebrand last year, and we’re excited about his vision to engage the next generation of investors, which will keep us ahead in a competitive market.”

Marrone will focus on creative campaigns, AI-driven marketing, and brand development. He aims to build innovative content solutions that increase both financial literacy and client engagement, particularly through Gebbia Media’s production capabilities.

“Stefano’s commitment to modern content resonates with our goals,” said David Gebbia, Principal at Siebert Financial and CEO of Gebbia Media. “Bringing together media production and financial education under one roof is a rare advantage for a financial firm. His background in storytelling and AI will help us create dynamic content, bridging entertainment and financial literacy for clients of all ages.”

Siebert.Valor’s mission to reach veterans and military families remains key to the company. Marrone will ensure messaging and educational resources reach those audiences effectively, reflecting the firm’s broader commitment to inclusivity.

“Stefano has a gift for making complex topics like financial education feel clear and empowering. His approach will help us better support our veterans and active-duty communities,” said Kaj Larsen, Head of Military Investment and Communications at Siebert.

Marrone sees bold leadership and unified media resources as keys to building on Siebert Financial’s legacy of innovation in finance.

“I am excited to join a financial brand with such a rich history,” said Marrone. “Working with the Gebbia family has shown me how forward-looking leadership can reimagine a legacy institution. Combining Gebbia Media’s creative capabilities with robust financial education to engage with a younger audience segment is a powerful strategy. I’m honored to help shape the next chapter of Siebert Financial as we continue to innovate in an industry that strongly needs it.”

About Siebert Financial Corp.
Siebert is a diversified financial services company and has been a member of the NYSE since 1967, when Muriel Siebert became the first woman to own a seat on the NYSE and the first to head one of its member firms.

Siebert operates through its subsidiaries Muriel Siebert & Co., LLC, Siebert AdvisorNXT, LLC, Park Wilshire Companies, Inc., RISE Financial Services, LLC, Siebert Technologies, LLC, and StockCross Digital Solutions, Ltd, and Gebbia Entertainment LLC. Through these entities, Siebert provides a full range of brokerage and financial advisory services, including securities brokerage, investment advisory and insurance offerings, securities lending, and corporate stock plan administration solutions, in addition to entertainment and media productions. For over 55 years, Siebert has been a company that values its clients, shareholders, and employees. More information is available at www.siebert.com.

About Gebbia Media
Gebbia Media is a subsidiary of Siebert Financial Corp. and is an entertainment company focused on the promotion of music artists and catalogue acquisition, as well as the production of film and TV content across story-driven, reality, and factual formats. Gebbia Media functions as the in-house production agency of Siebert Financial and currently has several media projects in development.

Cautionary Note Regarding Forward-Looking Statements
The statements contained in this press release that are not historical facts, including statements about our beliefs and expectations, are “forward-looking statements” within the meaning of the U.S. Private Securities Litigation Reform Act of 1995. Forward-looking statements include statements preceded by, followed by, or that include the words “may,” “could,” “would,” “should,” “believe,” “expect,” “anticipate,” “plan,” “estimate,” “target,” “project,” “intend” and similar words or expressions. In addition, any statements that refer to expectations, projections, or other characterizations of future events or circumstances are forward-looking statements.

These forward-looking statements, which reflect beliefs, objectives, and expectations as of the date hereof, are based on the best judgment of the management of Siebert. All forward-looking statements speak only as of the date on which they are made. Such forward-looking statements are subject to certain risks, uncertainties and assumptions relating to factors that could cause actual results to differ materially from those anticipated in such statements, including, without limitation, the following: economic, social and political conditions, global economic downturns resulting from extraordinary events; securities industry risks; interest rate risks; liquidity risks; credit risk with clients and counterparties; risk of liability for errors in clearing functions; systemic risk; systems failures, delays and capacity constraints; network security risks; competition; reliance on external service providers; new laws and regulations affecting Siebert’s business; net capital requirements; extensive regulation, regulatory uncertainties and legal matters; failure to maintain relationships with employees, customers, business partners or governmental entities; the inability to achieve synergies or to implement integration plans; and other consequences associated with risks and uncertainties detailed in Part I, Item 1A – Risk Factors of Siebert’s Annual Report on Form 10-K for the year ended December 31, 2023, and Siebert’s filings with the SEC.

Siebert cautions that the foregoing list of factors is not exclusive, and new factors may emerge, or changes to the foregoing factors may occur that could impact its business. Siebert undertakes no obligation to publicly update or revise these statements, whether as a result of new information, future events, or otherwise, except to the extent required by the federal securities laws.

Media Contact
Deborah Kostroun, Zito Partners
deborah@zitopartners.com
+1 (201) 403-8185

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/a0d77ebc-7226-46ce-8c2e-5129bfd3057d

The MIL Network –

April 24, 2025
MIL-OSI: Volta Finance Limited – Net Asset Value(s) as at 31 March 2025
Source: GlobeNewswire (MIL-OSI)

Volta Finance Limited (VTA / VTAS)
March 2025 monthly report

NOT FOR RELEASE, DISTRIBUTION, OR PUBLICATION, IN WHOLE OR PART, IN OR INTO THE UNITED STATES

Guernsey, April 23^rd, 2025

AXA IM has published the Volta Finance Limited (the “Company” or “Volta Finance” or “Volta”) monthly report for March 2025. The full report is attached to this release and will be available on Volta’s website shortly (www.voltafinance.com).

Performance and Portfolio Activity

Dear Investors,

Volta Finance’s net performance for the month of March was negative -2.9%, taking the Aug 2024-to-date performance at +9.7%. Both our investments in CLO Debt and CLO Equity were impacted by the broader volatility and risk repricing across global markets. In line with its dividend policy, Volta declared a 15.5c quarterly dividend through the month.

CLO markets exhibited classic cyclical patterns characterized by spread tightening in January followed by some widening towards the end of the Quarter. However, market movements in March extended beyond typical seasonal dynamics as geopolitical tensions and uncertainties surrounding President Trump’s trade policies had a significant impact. The announcement of tariffs targeting Canada, Mexico and increased levies on China in February shook Equity markets across the globe and triggered a general repricing of risk. March saw additional tariff threats hinting towards a total revamp of US trade agreements in the making. Major Equity indices sold off, with pressures on technology, automotive and consumer discretionary sectors notably. These announcements overshadowed positive news on the inflation front (cooling PCE), while the Fed maintained its key rate on March 19. Lower GDP growth projections were on everybody’s mind, while markets were left in limbo ahead of the tariff announcements of the US administration due to take place on April 2nd.

It was no surprise to see Credit markets repricing in March as well: the European High Yield index (Xover) closed around 40bps wider at 328bps. In the loan market, Euro Loans dropped c. 1pt to about 97.80px (Morningstar European Leveraged Loan Index) while US Loans felt by 85cts down to 96.30px. The primary CLO market remained active as many transactions were executed, although levels moved wider across the capital structure, notably BBs towards +600bps (from +475bps context). In terms of performance, BBs had a total return of -1.5%, US High Yield returned -1.07% and Euro High Yield were down by -1%.

Looking at Volta Finance’s cashflow, the portfolio generated c. €28m equivalent of interests and coupons over the last six months, representing c.21% of February’s NAV on an annualized basis. Over the month, Volta’s CLO Equity tranches returned -4.3%** while CLO Debt tranches returned -0.5% performance**, cash representing c. 10% of the NAV.

Volta is around 21% exposed to USD, the March currency moves having a meaningful impact on the overall funds’ performance (-0.94%).

As of end of March 2025, Volta’s NAV was €269.6m, i.e. €7.37 per share.

*It should be noted that approximately 0.29% of Volta’s GAV comprises investments for which the relevant NAVs as at the month-end date are normally available only after Volta’s NAV has already been published. Volta’s policy is to publish its NAV on as timely a basis as possible to provide shareholders with Volta’s appropriately up-to-date NAV information. Consequently, such investments are valued using the most recently available NAV for each fund or quoted price for such subordinated notes. The most recently available fund NAV or quoted price was 0.18% as at 28 February 2025, 0.11% as at 30 September 2024.

** “performances” of asset classes are calculated as the Dietz-performance of the assets in each bucket, taking into account the Mark-to-Market of the assets at period ends, payments received from the assets over the period, and ignoring changes in cross-currency rates. Nevertheless, some residual currency effects could impact the aggregate value of the portfolio when aggregating each bucket.

CONTACTS

For the Investment Manager
AXA Investment Managers Paris
François Touati
francois.touati@axa-im.com
+33 (0) 1 44 45 80 22

Olivier Pons
Olivier.pons@axa-im.com
+33 (0) 1 44 45 87 30

Company Secretary and Administrator
BNP Paribas S.A, Guernsey Branch
guernsey.bp2s.volta.cosec@bnpparibas.com
+44 (0) 1481 750 853

Corporate Broker
Cavendish Securities plc
Andrew Worne
Daniel Balabanoff
+44 (0) 20 7397 8900

*****
ABOUT VOLTA FINANCE LIMITED

Volta Finance Limited is incorporated in Guernsey under The Companies (Guernsey) Law, 2008 (as amended) and listed on Euronext Amsterdam and the London Stock Exchange’s Main Market for listed securities. Volta’s home member state for the purposes of the EU Transparency Directive is the Netherlands. As such, Volta is subject to regulation and supervision by the AFM, being the regulator for financial markets in the Netherlands.

Volta’s Investment objectives are to preserve its capital across the credit cycle and to provide a stable stream of income to its Shareholders through dividends that it expects to distribute on a quarterly basis. The Company currently seeks to achieve its investment objectives by pursuing exposure predominantly to CLO’s and similar asset classes. A more diversified investment strategy across structured finance assets may be pursued opportunistically. The Company has appointed AXA Investment Managers Paris an investment management company with a division specialised in structured credit, for the investment management of all its assets.

*****

ABOUT AXA INVESTMENT MANAGERS
AXA Investment Managers (AXA IM) is a multi-expert asset management company within the AXA Group, a global leader in financial protection and wealth management. AXA IM is one of the largest European-based asset managers with 2,800 professionals and €859 billion in assets under management as of the end of June 2024.

*****

This press release is published by AXA Investment Managers Paris (“AXA IM”), in its capacity as alternative investment fund manager (within the meaning of Directive 2011/61/EU, the “AIFM Directive”) of Volta Finance Limited (the “Volta Finance”) whose portfolio is managed by AXA IM.

This press release is for information only and does not constitute an invitation or inducement to acquire shares in Volta Finance. Its circulation may be prohibited in certain jurisdictions and no recipient may circulate copies of this document in breach of such limitations or restrictions. This document is not an offer for sale of the securities referred to herein in the United States or to persons who are “U.S. persons” for purposes of Regulation S under the U.S. Securities Act of 1933, as amended (the “Securities Act”), or otherwise in circumstances where such offer would be restricted by applicable law. Such securities may not be sold in the United States absent registration or an exemption from registration from the Securities Act. Volta Finance does not intend to register any portion of the offer of such securities in the United States or to conduct a public offering of such securities in the United States.

*****

This communication is only being distributed to and is only directed at (i) persons who are outside the United Kingdom or (ii) investment professionals falling within Article 19(5) of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005 (the “Order”) or (iii) high net worth companies, and other persons to whom it may lawfully be communicated, falling within Article 49(2)(a) to (d) of the Order (all such persons together being referred to as “relevant persons”). The securities referred to herein are only available to, and any invitation, offer or agreement to subscribe, purchase or otherwise acquire such securities will be engaged in only with, relevant persons. Any person who is not a relevant person should not act or rely on this document or any of its contents. Past performance cannot be relied on as a guide to future performance.

*****
This press release contains statements that are, or may deemed to be, “forward-looking statements”. These forward-looking statements can be identified by the use of forward-looking terminology, including the terms “believes”, “anticipated”, “expects”, “intends”, “is/are expected”, “may”, “will” or “should”. They include the statements regarding the level of the dividend, the current market context and its impact on the long-term return of Volta Finance’s investments. By their nature, forward-looking statements involve risks and uncertainties and readers are cautioned that any such forward-looking statements are not guarantees of future performance. Volta Finance’s actual results, portfolio composition and performance may differ materially from the impression created by the forward-looking statements. AXA IM does not undertake any obligation to publicly update or revise forward-looking statements.

Any target information is based on certain assumptions as to future events which may not prove to be realised. Due to the uncertainty surrounding these future events, the targets are not intended to be and should not be regarded as profits or earnings or any other type of forecasts. There can be no assurance that any of these targets will be achieved. In addition, no assurance can be given that the investment objective will be achieved.

The figures provided that relate to past months or years and past performance cannot be relied on as a guide to future performance or construed as a reliable indicator as to future performance. Throughout this review, the citation of specific trades or strategies is intended to illustrate some of the investment methodologies and philosophies of Volta Finance, as implemented by AXA IM. The historical success or AXA IM’s belief in the future success, of any of these trades or strategies is not indicative of, and has no bearing on, future results.

The valuation of financial assets can vary significantly from the prices that the AXA IM could obtain if it sought to liquidate the positions on behalf of the Volta Finance due to market conditions and general economic environment. Such valuations do not constitute a fairness or similar opinion and should not be regarded as such.

Editor: AXA INVESTMENT MANAGERS PARIS, a company incorporated under the laws of France, having its registered office located at Tour Majunga, 6, Place de la Pyramide – 92800 Puteaux. AXA IMP is authorized by the Autorité des Marchés Financiers under registration number GP92008 as an alternative investment fund manager within the meaning of the AIFM Directive.

*****

Attachment
- Volta – Monthly report- March 2025
The MIL Network –
April 24, 2025
MIL-OSI: Vantage Drilling International Ltd. – Announcement of Conditional Letter of Award
Source: GlobeNewswire (MIL-OSI)

Dubai, April 23, 2025 (GLOBE NEWSWIRE) — Vantage Drilling International Ltd. (the “Company”) announces it has received a conditional letter of award (”CLOA”) for the Platinum Explorer with a 90 day validity period. The contract value is circa $80M with an anticipated 260 days required to render the campaign, inclusive of mobilization time, paid-for contract preparation time and demobilization time. A material portion of the contract value, covering mobilisation and paid-for contract preparation, is reimbursed based on the cost incurred and a limited margin amount.

The award of the contract is subject to the following conditions:
- the terms and conditions of the contract having been mutually agreed between the Client and the Company;
- the Client having received: (i) all necessary internal board approvals; and (ii) all necessary state, governmental and administrative approvals;
The CLOA shall remain in effect until the earlier of the execution of the contract for services or the expiration of the validity period.

This information is considered to be inside information pursuant to the EU Market Abuse Regulation and is subject to disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act. The information was submitted for publication by Alaric Harrell, Chief Accounting Officer of the Company on the date and time as set out above.

About the Company
Vantage Drilling International Ltd., a Bermuda exempted company, is an offshore drilling contractor. Vantage Drilling’s primary business is to contract drilling units, related equipment and work crews primarily on a dayrate basis to drill oil and natural gas wells globally for major, national and independent oil and gas companies. Vantage Drilling also markets, operates and provides management services in respect of drilling units owned by others. For more information about the Company, please refer to the Company’s website, www.vantagedrilling.com

Attachment
- Conditional Letter of Award
The MIL Network –
April 24, 2025
MIL-OSI Video: Platon has photographed the most powerful people in the world, he tells us what makes a real leader

Source: World Economic Forum (video statements)

The World Economic Forum is the International Organization for Public-Private Cooperation. The Forum engages the foremost political, business, cultural and other leaders of society to shape global, regional and industry agendas. We believe that progress happens by bringing together people from all walks of life who have the drive and the influence to make positive change.

World Economic Forum Website ► http://www.weforum.org/
Facebook ► https://www.facebook.com/worldeconomicforum/
YouTube ► https://www.youtube.com/wef
Instagram ► https://www.instagram.com/worldeconomicforum/
Twitter ► https://twitter.com/wef
LinkedIn ► https://www.linkedin.com/company/world-economic-forum
TikTok ► https://www.tiktok.com/@worldeconomicforum
Flipboard ► https://flipboard.com/@WEF

#WorldEconomicForum

https://www.youtube.com/watch?v=z9_yXvLp-AY

MIL OSI Video –

April 24, 2025
MIL-OSI Russia: Sobyanin told how the hotline helps passengers of Moscow transport

Translartion. Region: Russians Fedetion –

Source: Moscow Government – Government of Moscow –

The hotline of the Moscow Transport contact center is turning 12 years old. During this time, specialists have received almost 40 million calls, the telegram channel Sergei Sobyanin.

The hotline is one of the most popular and convenient services for solving any questions about transport. Most often, residents and visitors of the capital call the number: 7 495 539-54-54 or 3210 (from a mobile phone) to clarify the schedule of public transport and the operating hours of railway stations, to find out about the evacuation of a car, as well as the procedure for paying for parking and their location. In addition, Muscovites ask how to return things lost during a trip, and find out the details of paying for travel on transport.

“For example, in 2024, passengers contacted the contact center almost 200 thousand times on the topic of lost things, about 100 thousand questions were asked about the work of the Troika and the ticket system. Contact center operators consult city residents around the clock and process an average of 6.6 thousand calls per day,” the Moscow Mayor noted.

Source: Sergei Sobyanin’s Telegram channel @Mos_Sobyanin

Since 2019, the hotline has been using artificial intelligence: a voice assistant answers questions about vehicle evacuation.

Please note: This information is raw content directly from the source of the information. It is exactly what the source states and does not reflect the position of MIL-OSI or its clients.

Please Note; This Information is Raw Content Directly from the Information Source. It is access to What the Source Is Stating and Does Not Reflect

https: //vv.mos.ru/mayor/tkhemes/12651050/

MIL OSI Russia News –

April 24, 2025
MIL-OSI China: MOFA response to false claims regarding Taiwan in joint statement between PRC and Vietnam
Source: Republic of Taiwan – Ministry of Foreign Affairs

MOFA response to false claims regarding Taiwan in joint statement between PRC and Vietnam
- Date：2025-04-16
- Data Source：Department of East Asian and Pacific Affairs
April 16, 2025

During a visit to Vietnam from April 14 to 15, Chinese leader Xi Jinping met with General Secretary of the Central Committee of the Communist Party of Vietnam To Lam. Following the meeting, the two sides issued a joint statement on continuing to deepen their comprehensive strategic cooperative partnership. Among other spurious content, the statement falsely claimed Taiwan to be an inseparable part of Chinese territory. The Ministry of Foreign Affairs (MOFA) solemnly condemns the authoritarian CCP government’s continued dissemination of false narratives aimed at undermining Taiwan’s sovereignty.

MOFA reaffirms that Taiwan remains staunchly committed to safeguarding its national sovereignty; that the Republic of China (Taiwan) is an independent, sovereign country; that neither the ROC (Taiwan) nor the People’s Republic of China is subordinate to the other; that the CCP regime has never governed Taiwan; and that no narratives distorting Taiwan’s sovereign status can change the internationally recognized status quo across the Taiwan Strait.

MOFA stresses that Taiwan will continue to develop deep and enduring cooperation and exchanges with other countries through integrated diplomacy. It calls on nations worldwide to jointly counter China’s false narratives and not to condone China’s malicious attempts to mislead the international community and downgrade Taiwan’s sovereignty. MOFA also urges nations to work together to contribute to regional peace and stability and advance economic security and prosperity across the globe.

MIL OSI China News –
April 24, 2025
MIL-OSI China: Foreign Minister Lin and Tuvaluan Deputy Prime Minister Nelesone witness signing of agreements on labor cooperation and seafarer training and certification
Source: Republic of Taiwan – Ministry of Foreign Affairs

Foreign Minister Lin and Tuvaluan Deputy Prime Minister Nelesone witness signing of agreements on labor cooperation and seafarer training and certification
- Date：2025-04-16
- Data Source：Department of East Asian and Pacific Affairs
April 16, 2025

No. 097

Minister of Foreign Affairs Lin Chia-lung met with a Tuvaluan delegation led by Deputy Prime Minister and Minister of Finance and Economic Development Panapasi Nelesone and his wife, Madame Corinna Laafai, at the Taipei Guest House on April 15. Together, they witnessed the signing of two bilateral agreements—one on labor cooperation and another on the recognition of training and certification of seafarers. These agreements, which were signed respectively by Minister of Labor Hung Sun-han and Minister of Transportation and Communications Chen Shih-kai for Taiwan and by Minister of Foreign Affairs, Labour and Trade Paulson Panapa for Tuvalu, aim to deepen bilateral exchanges and cooperation in such domains as labor affairs, fisheries, and seafarer certification.

Following the signing ceremony, Minister Lin hosted a banquet for the delegation at the Taipei Guest House. In his speech, he warmly welcomed them and thanked the government of Tuvalu for its long-standing and unwavering support of Taiwan’s international participation, including speaking up for Taiwan at major international events. Minister Lin expressed special appreciation to the Ministry of Labor (MOL) and the Ministry of Transportation and Communications (MOTC) for coordinating with the Ministry of Foreign Affairs (MOFA) to facilitate the signing of the two agreements. He indicated that they bolstered Taiwan-Tuvalu cooperation and marked the concrete implementation of the Diplomatic Allies Prosperity Project under the policy of integrated diplomacy. He also noted that they aligned with the concept of every ministry serving as a foreign ministry and every citizen as a diplomat. Minister Lin emphasized that MOFA had actively consolidated the diverse capabilities of government agencies and civil society, leveraging overall national strength to enhance cooperation between Taiwan and its diplomatic allies. Moving forward, he pledged to work hand in hand with the government of Tuvalu to expand exchanges across a variety of domains to promote economic prosperity and the well-being of the peoples of both countries.

Speaking at the banquet, Deputy Prime Minister Nelesone stated that in 46 years as diplomatic allies, Taiwan and Tuvalu had jointly responded to numerous challenges and created myriad opportunities for close cooperation in such areas as health care, agriculture, education, and basic infrastructure. He affirmed that the two nations had built a diplomatic alliance founded on freedom and democracy, adding that they shared strong bonds and were like family. On behalf of the government and people of Tuvalu, he sincerely thanked Taiwan for its long-term support of his nation’s development and reaffirmed Tuvalu’s staunch commitment to backing Taiwan’s international participation. He expressed the hope that both countries would continue working together to advance their diplomatic partnership, setting an example for the world.

Guests at the banquet included Deputy Minister of Health and Welfare Lin Ching-yi; Acting Director General of the MOL Workforce Development Agency Chen Shih-chang; Deputy Director General of the Ministry of Agriculture Fisheries Agency Lin Ding-rong; Director General of the MOTC Maritime and Port Bureau Yeh Hsieh-lung; Secretary General of the International Cooperation and Development Fund Huang Yu-lin; and representatives from the business sector. Participants exchanged views on a wide range of issues, including health care, climate change adaptation, and agricultural and fisheries cooperation. (E)

MIL OSI China News –
April 24, 2025
MIL-OSI China: MOFA response to Dutch House of Representatives passing four Taiwan-friendly motions
Source: Republic of Taiwan – Ministry of Foreign Affairs

MOFA response to Dutch House of Representatives passing four Taiwan-friendly motions
- Date：2025-04-16
- Data Source：Department of European Affairs
April 16, 2025

The House of Representatives of the Netherlands on April 15 adopted four Taiwan-friendly motions, urging the Dutch government to oppose China’s escalation of tensions, strengthen trade relations with Taiwan, send a high-level official delegation to Taiwan, and support Taiwan’s meaningful participation in the World Health Organization. The motions were proposed by House members from different parties, including Representative Jan Paternotte of Democrats 66, who is also cochair of the Inter-Parliamentary Alliance on China for the Netherlands. The Ministry of Foreign Affairs (MOFA) sincerely welcomes and appreciates the high level of consensus that Dutch parliamentarians have shown in their support for Taiwan.

The Dutch House of Representatives simultaneously passed four motions calling on the Dutch government to take a number of concrete actions to support Taiwan. It encouraged the government to oppose China’s launch of large-scale military exercises around Taiwan; attach great importance to cross-strait peace and send another warship through the Taiwan Strait; assist Taiwan in responding to the United States’ tariff policy and enhance economic and trade exchanges with Taiwan; promote high-level official visits between Taiwan and the Netherlands; and explicitly voice support for Taiwan’s participation in the World Health Assembly and other events. These motions concern Taiwan’s core interests and are therefore of great significance.

Minister of Foreign Affairs Lin Chia-lung recognizes that Taiwan and the Netherlands have forged an increasingly close relationship, that support for Taiwan in the Dutch parliament has grown steadily year after year, and that the Netherlands is an important partner in the promotion of President Lai Ching-te’s Five Trusted Industry Sectors. Taiwan looks forward to engaging in further cooperation with the Netherlands in such critical domains as strengthening resilience of the semiconductor supply chain, security control and information security, and next-generation communications.

MIL OSI China News –
April 24, 2025
MIL-OSI Asia-Pac: Reading day activities held

Source: Hong Kong Information Services

This year’s April 23 marks the second Hong Kong Reading for All Day. Hong Kong Public Libraries (HKPL) today collaborated with stakeholders to set up reading locations for “Read Together for Half an Hour” activities to promote reading among the public.

Director of Leisure & Cultural Services Manda Chan attended the “Read Together for Half an Hour” activity at the Hong Kong Central Library to share her reading experience with the participating students, remarking that reading while broadening one’s horizons is also life-enriching. She encouraged students to keep reading.

HKPL also invited renowned online content creator SaiDorSi to explore the relationship between reading and creativity with the participating students.

“Read Together for Half an Hour” is one of the highlight activities of Hong Kong Reading Week 2025.

The department provided a variety of books at different reading locations today, including the Museum of Art, the Science Museum, the Oil Street Art Space, the Railway Museum, Choi Hung Road Sports Centre, Tsuen Wan Sports Centre, Sun Yat Sen Memorial Park and individual public libraries.

In addition, “Read Together for Half an Hour” activities were held at 2025 Hong Kong Reading+ at New Town Plaza in Sha Tin, as well as at individual community libraries and community centres.

Furthermore, HKPL, in collaboration with the Hans Andersen Club, carried out the “Read together for Half an Hour” event and carnival at Lok Fu Place, featuring storytelling sessions, game booths and handicraft workshops. A reading area with selected books was also set up to promote reading.

Hong Kong Reading Week is being held from April 19 to 27. Under the theme “Zoom/LIBRARY”, it offers about 450 online and on-site events to encourage the public to develop a reading habit.

Activities include fun days, sharing sessions, videos and audio clips in which celebrities share their reading experiences and more. QR codes for selected e-books are available at different government venues for easy public access.

All Hong Kong Reading Week activities are free of charge, with seat reservations required for individual events.

Click here for more details.

MIL OSI Asia Pacific News –

April 24, 2025
MIL-OSI Security: Bookkeeper Sentenced to More Than One Year in Prison for Tax Evasion and Disability Benefit Fraud

Source: Office of United States Attorneys

BOSTON – The former bookkeeper for an electrical contracting business has been sentenced for concealing income from the Internal Revenue Service (IRS) and stealing disability benefits.

David Tetreault, 55, of Attleboro, was sentenced by U.S. District Court Judge Nathaniel M. Gorton to 18 months in prison, to be followed by three years of supervised release. Tetreault has also been ordered to pay $623,602 to the Internal Revenue Service, $159,816 to the Social Security Administration and $161,835 to the Employment Retirement System of Rhode Island in restitution. In October 20204, Tetreault pleaded guilty to one count of tax evasion, one count of theft of government money and one count of wire fraud.

Tetreault worked as a bookkeeper for a Massachusetts-based electrical contractor between 2015 and 2021. During those years, Tetreault received wages in cash and used company funds to pay his personal credit card bills. Tetreault manipulated the company’s accounting records and bank statements to disguise these payments as business expenses. As a result of this conduct, Tetreault underreported his personal income by at least $2.1 million, causing a loss to the IRS of over $600,000.

In addition, Tetreault did not report his work for the electrical contractor or his income to the Social Security Administration and submitted false information about his employment and income to the Employees’ Retirement System of Rhode Island (ERSRI). As a result of this conduct, Tetreault collected over $320,000 in Social Security Disability Insurance benefits and ERSRI disability pension benefits to which he was not entitled between 2016 and 2024.

United States Attorney Leah B. Foley; Thomas Demeo, Acting Special Agent in Charge of the Internal Revenue Service’s Criminal Investigation in Boston; and Amy Connelly, Special Agent in Charge of the Social Security Administration, Office of Inspector General, Office of Investigations, Boston Field Division made the announcement today. Assistant U.S. Attorney David M. Holcomb of the Securities, Financial & Cyber Fraud Unit prosecuted the case.

MIL Security OSI –

April 24, 2025
MIL-OSI China: Chinese vice premier meets Iranian FM

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

BEIJING, April 23 — Chinese Vice Premier Ding Xuexiang met with Iran’s Foreign Minister Seyed Abbas Araghchi in Beijing on Wednesday.

Ding, also a member of the Standing Committee of the Political Bureau of the Communist Party of China Central Committee, underscored the traditional friendship between the two countries and abundant results from their cooperation in multiple fields.

Ding said China is willing to work with Iran to deliver on the common understandings between the two heads of state, deepen high-level exchanges, and consolidate political mutual trust.

The two countries should also expand pragmatic cooperation, strengthen coordination in international and regional affairs, and promote the steady and long-term progress of the China-Iran comprehensive strategic partnership that benefits the two countries and their peoples, Ding said.

Araghchi said that Iran attaches great importance to the comprehensive strategic partnership, and is willing to deepen mutually beneficial cooperation, enhance multilateral coordination, and safeguard their common interests.

MIL OSI China News –

April 24, 2025
MIL-OSI: Aemetis India Plant Visited by U.S. Consul General

Source: GlobeNewswire (MIL-OSI)

CUPERTINO, Calif., April 23, 2025 (GLOBE NEWSWIRE) — Aemetis, Inc. (NASDAQ: AMTX), a diversified global renewable natural gas and biofuels company, announced the Company’s subsidiary in India, Universal Biofuels, has been working with the U.S. government to support the success of American interests in India. Aemetis owns and operates an 80 million gallon per year biodiesel production facility in Kakinada, Andhra Pradesh. The U.S. Consul General, Jennifer Larson, recently toured the Universal biodiesel plant along with staff from the consulate to further the collaboration with Aemetis. 

India is committed to the production and use of biofuels to expand markets for agricultural products and to utilize waste materials to improve air quality. The target set in the India National Policy on Biofuels is an increase in the blend of biodiesel from 1% to 5%. The meeting and plant tour by Jennifer Larson, the U.S. Consul General based in Hyderabad, India, focused on understanding the implications of India biofuels policies to expand the production of renewable fuels by Universal Biofuels.

“Diesel engine emissions are a significant contributor to air pollution and a cause of significant public health problems in India,” said Eric McAfee, Chairman and CEO of Aemetis. “The Universal Biofuels facility in India has invested in the expansion of production capacity to meet India’s goal of a 5% biodiesel blend and facilitate the reduction of air pollution from diesel engine exhaust. The visit by the Consul General is representative of the level of engagement by all parties to generate the many benefits of renewable fuels in India.”

“The adoption of new policies in India that facilitate access to feedstocks supports our plans to raise the capital and invest the resources into growing our production capacity,” said Sanjeev Duggal, CEO of Universal Biofuels. “We look forward to continuing the work with the consulate and view the visit by Ms. Larson as a critical step forward that is an important sign of support for our business.”

Aemetis’ Universal Biofuels subsidiary is one of the largest biodiesel producers in India, having been in operation for more than 17 years. Universal Biofuels increased its annual biodiesel production capacity from 60 million gallons to 80 million gallons in the past year, with further biodiesel expansion to other locations and diversification into biogas production planned during the next twelve months. To support further growth, Universal Biofuels is preparing for an IPO in India, aiming for completion in late 2025 or the first half of 2026, subject to continued favorable stock market conditions.

Universal Biofuels completed $112 million of biodiesel and glycerin shipments in the twelve months ended September 2024, including deliveries to the three government-owned oil marketing companies under a cost-plus contract. Shipments of biodiesel to OMCs are expected to begin again this month under the next round of biodiesel contracts.

About Aemetis

Headquartered in Cupertino, California, Aemetis is a renewable natural gas and biofuels company focused on the operation, acquisition, development, and commercialization of innovative technologies that support energy independence and security. Founded in 2006, Aemetis operates and is expanding a California biogas digester network and pipeline system to convert dairy waste into renewable natural gas. Aemetis owns and operates a 65 million gallon per year ethanol production facility in California’s Central Valley near Modesto that also supplies about 80 dairies with animal feed. Aemetis owns and operates an 80 million gallon per year biofuels facility on the East Coast of India producing high quality distilled biodiesel and refined glycerin. Aemetis is developing a sustainable aviation fuel and renewable diesel biorefinery and a carbon sequestration project in California. For additional information about Aemetis, please visit www.aemetis.com.

Safe Harbor Statement

This news release contains forward-looking statements, including statements regarding assumptions, projections, expectations, targets, intentions or beliefs about future events or other statements that are not historical facts. Forward-looking statements include, without limitation, projections of financial results; IPO plans; statements related to the development, engineering, financing, construction, timing, and operation of biodiesel, biogas, sustainable aviation fuel, CO2 sequestration, and other facilities; our ability to promote, develop, finance, and construct such facilities; and statements about future market prices and results of government actions. Words or phrases such as “anticipates,” “may,” “will,” “should,” “believes,” “estimates,” “expects,” “intends,” “plans,” “predicts,” “projects,” “targets,” “view,” “will likely result,” “will continue” or similar expressions are intended to identify forward-looking statements. These forward-looking statements are based on current assumptions and predictions and are subject to many risks and uncertainties. Actual results or events could differ materially from those set forth or implied by such forward-looking statements and related assumptions due to certain factors, including, without limitation, competition in the ethanol, biodiesel and other industries in which we operate, commodity market risks including those that may result from current weather conditions, financial market risks, customer adoption, counter-party risks, risks associated with changes to government policy or regulation, and other risks detailed in our reports filed with the Securities and Exchange Commission, including our Annual Reports on Form 10-K, and in our other filings with the SEC. We are not obligated, and do not intend, to update any of these forward-looking statements at any time unless an update is required by applicable securities laws.

Company Investor Relations
Media Contact:
Todd Waltz
(408) 213-0940
investors@aemetis.com

External Investor Relations
Contact:
Kirin Smith
PCG Advisory Group
(646) 863-6519
ksmith@pcgadvisory.com

The MIL Network –

April 24, 2025

MIL-OSI: Hanover Bancorp, Inc. Reports First Quarter 2025 Results Highlighted by Accelerated Margin Expansion, Improved Credit Quality Metrics & Successful Core Banking System Conversion

Source: GlobeNewswire (MIL-OSI)

First Quarter Performance Highlights

Net Income: Net income for the quarter ended March 31, 2025 totaled $1.5 million or $0.20 per diluted share (including Series A preferred shares). Adjusted (non-GAAP) net income (excluding core system conversion expenses of $2.6 million, net of tax) increased to $4.1 million or $0.55 per diluted share for the quarter ended March 31, 2025.
Net Interest Income: Net interest income was $14.6 million for the quarter ended March 31, 2025, an increase of $0.8 million or 5.95% from the quarter ended December 31, 2024 and $1.7 million, or 13.10% from the quarter ended March 31, 2024.
Net Interest Margin Expansion: The Company’s net interest margin during the quarter ended March 31, 2025 increased to 2.68% from 2.53% in the quarter ended December 31, 2024 and 2.41% in the quarter ended March 31, 2024.
Strong Liquidity Position: At March 31, 2025, undrawn liquidity sources, which include cash and unencumbered securities and secured and unsecured funding capacity, totaled $679.0 million, or approximately 322% of uninsured deposit balances. Insured and collateralized deposits, which include municipal deposits, accounted for approximately 89% of total deposits at March 31, 2025.
Demand Deposits: Demand deposits increased $12.6 million or 6.23% from March 31, 2024 and $3.9 million or 1.85% from December 31, 2024.
Loan Diversification Strategy: The Company continues to actively manage its Multi-Family and Commercial Real Estate portfolios which resulted in a reduction in the commercial real estate concentration ratio to 369% of capital at March 31, 2025 from 385% at December 31, 2024 and 416% at March 31, 2024. The Company continues to focus loan growth primarily in residential loan products originated for sale to specific buyers in the secondary market, C&I and SBA loans. The Company will selectively explore Commercial Real Estate opportunities with an emphasis on relationship based Commercial Real Estate lending.
Asset Quality: At March 31, 2025, the Bank’s asset quality improved with non-performing loans decreasing 28.5% to $11.7 million, representing 0.60% of the total loan portfolio, while the allowance for credit losses increased to 1.17% of total loans.
Tangible Book Value Per Share: Tangible book value per share (including Series A preferred shares) was $23.62 at March 31, 2025 (inclusive of one-time core system conversion expenses of $2.6 million, net of tax, or $0.34 per share) compared to $23.86 at December 31, 2024.
Technology & Rebranding: The Company completed its core processing system conversion to FIS Horizon in February 2025. This conversion, coupled with our recently revealed refreshed corporate logo, exemplifies our momentum towards a more technologically advanced, modern and digitally forward-thinking bank.
Quarterly Cash Dividend: The Company’s Board of Directors approved a $0.10 per share cash dividend on both common and Series A preferred shares payable on May 14, 2025 to stockholders of record on May 7, 2025.

MINEOLA, N.Y., April 23, 2025 (GLOBE NEWSWIRE) — Hanover Bancorp, Inc. (“Hanover” or “the Company” – NASDAQ: HNVR), the holding company for Hanover Community Bank (“the Bank”), today reported results for the quarter ended March 31, 2025 and the declaration of a $0.10 per share cash dividend on both common and Series A preferred shares payable on May 14, 2025 to stockholders of record on May 7, 2025.

Earnings Summary for the Quarter Ended March 31, 2025

The Company reported net income for the quarter ended March 31, 2025 of $1.5 million or $0.20 per diluted share (including Series A preferred shares), versus $4.1 million or $0.55 per diluted share (including Series A preferred shares) in the quarter ended March 31, 2024. The Company recorded adjusted (non-GAAP) net income (excluding core system conversion expenses of $2.6 million, net of tax) of $4.1 million or $0.55 per diluted share in the quarter ended March 31, 2025, versus net income of $4.1 million or $0.55 per diluted share in the comparable 2024 quarter (which included no adjustments). Returns on average assets, average stockholders’ equity and average tangible equity were 0.27%, 3.11% and 3.45%, respectively, for the quarter ended March 31, 2025, versus 0.74%, 8.70% and 9.71%, respectively, for the comparable quarter of 2024. Adjusted (non-GAAP) returns, exclusive of core system conversion expenses on average assets, average stockholders’ equity and average tangible equity were 0.73%, 8.36% and 9.27%, respectively, in the quarter ended March 31, 2025, versus 0.74%, 8.70% and 9.71%, respectively, in the comparable quarter of 2024.

While net interest income and non-interest income increased during the quarter ended March 31, 2025 compared to the quarter ended March 31, 2024, these were partially offset by increases in provision for credit losses and non-interest expenses, particularly compensation and benefits and the one-time core system conversion expenses. The increase in compensation and benefits expense in the first quarter of 2025 versus the comparable 2024 quarter was primarily related to lower deferred loan origination costs partially offset by lower incentive compensation expense resulting from reduced lending activity. The Company’s effective tax rate decreased to 13.8% in the first quarter of 2025 from 24.9% both in the linked quarter and the comparable 2024 quarter due to the tax impact of the windfall benefit from expiring stock options that were exercised and vested restricted stock. We expect a normalized run rate of 25.0% for the remainder of the year.

Net interest income was $14.6 million for the quarter ended March 31, 2025, an increase of $1.7 million, or 13.10% from the comparable 2024 quarter due to improvement of the Company’s net interest margin to 2.68% in the 2025 quarter from 2.41% in the comparable 2024 quarter. The yield on interest earning assets decreased to 6.01% in the 2025 quarter from 6.03% in the comparable 2024 quarter, a decrease of 2 basis points that was partially offset by a 32 basis point decrease in the cost of interest-bearing liabilities to 4.01% in 2025 from 4.33% in the first quarter of 2024. Net interest income on a linked quarter basis increased $0.8 million or 5.95%, due to a 15 basis point increase in net interest margin resulting from a 23 basis point decrease in cost of interest-bearing liabilities, partially offset by a 5 basis point decrease on yield on interest earning assets. The increase in the net interest margin was a result of the late 2024 reductions in the Fed Funds effective rate and the liability sensitive nature of the Bank’s balance sheet.

Michael P. Puorro, Chairman and Chief Executive Officer, commented on the Company’s quarterly results: “We are pleased with our first quarter performance which reflected sizable improvements in Net Interest Income and Net Interest Margin that drove stronger adjusted ROTE and ROA for the period. Specifically, NII increased from $13.8 million to $14.6 million and NIM from 2.53% to 2.68%, resulting in adjusted ROTE of 9.27% and ROA of 0.73%, confirming a trend away from the restrictive environment of the last couple of years. Building on this positive momentum were improved credit metrics and the completion of our core banking system conversion, a significant achievement that is expected to deliver tangible operational efficiencies and customer benefits while enhancing our commitment to digital banking. In addition to the core banking system conversion, we recently announced our new logo which is representative of our focus on innovation and a digital forward strategy. Moving forward, we remain committed to disciplined development of our core business verticals which include niche residential, SBA and C&I lending. Further, we look forward to a more favorable banking environment and the upcoming potential qualification for the Russell 2000, which should increase institutional ownership and enhance the liquidity of our stock.”

Balance Sheet Highlights

Total assets at March 31, 2025 were $2.29 billion versus $2.31 billion at December 31, 2024. Total securities available for sale at March 31, 2025 were $93.2 million, an increase of $9.4 million from December 31, 2024, primarily driven by growth in collateralized mortgage obligations, collateralized loan obligations and corporate bonds.

Total deposits at March 31, 2025 were $1.94 billion, a decrease of $17.8 million or 0.91%, compared to $1.95 billion at December 31, 2024. Total deposits increased $19.2 million or 1.00% from March 31, 2024. Demand deposits increased $12.6 million or 6.23% from March 31, 2024. Our loan to deposit ratio improved to 101% at March 31, 2025 from 102% at December 31, 2024.

The Company had $517.1 million in total municipal deposits at March 31, 2025, at a weighted average rate of 3.71% versus $509.3 million at a weighted average rate of 3.72% at December 31, 2024 and $576.3 million at a weighted average rate of 4.65% at March 31, 2024. The Company’s municipal deposit program is built on long-standing relationships developed in the local marketplace. This core deposit business will continue to provide a stable source of funding for the Company’s lending products at costs lower than those of consumer deposits and market-based borrowings. The Company continues to broaden its municipal deposit base and currently services 40 customer relationships.

Total borrowings at March 31, 2025 were $107.8 million, with a weighted average rate and term of 4.11% and 20 months, respectively. At March 31, 2025 and December 31, 2024, the Company had $107.8 million of term FHLB advances outstanding. The Company had no FHLB overnight borrowings outstanding at March 31, 2025 and December 31, 2024. The Company had no borrowings outstanding under lines of credit with correspondent banks at March 31, 2025 and December 31, 2024.

Stockholders’ equity was $196.6 million at both March 31, 2025 and December 31, 2024. Retained earnings increased by $0.8 million due primarily to net income of $1.5 million for the quarter ended March 31, 2025, which was offset by $0.7 million of dividends declared. The accumulated other comprehensive loss at March 31, 2025 was 0.71% of total equity and was comprised of a $0.9 million after tax net unrealized loss on the investment portfolio and a $0.5 million after tax net unrealized loss on derivatives. Tangible book value per share (including Series A preferred shares) was $23.62 at March 31, 2025 (inclusive of one-time core system conversion expenses of $2.6 million, net of tax, or $0.34 per share) compared to $23.86 at December 31, 2024.

Loan Portfolio

For the three months ended March 31, 2025, the Bank’s loan portfolio decreased $24.9 million to $1.96 billion from December 31, 2024. The decrease resulted primarily from the ongoing management of our commercial real estate and multifamily loan concentrations. At March 31, 2025, the Company’s residential loan portfolio (including home equity) amounted to $733.6 million, with an average loan balance of $486 thousand and a weighted average loan-to-value ratio of 57%. Commercial real estate (including construction) and multifamily loans totaled $1.06 billion at March 31, 2025, with an average loan balance of $1.5 million and a weighted average loan-to-value ratio of 59%. As will be discussed below, approximately 37% of the multifamily portfolio is subject to rent regulation. The Company’s commercial real estate concentration ratio continues to improve, decreasing to 369% of capital at March 31, 2025 from 385% at December 31, 2024 and 416% at March 31, 2024, with loans secured by office space accounting for 2.23% of the total loan portfolio and totaling $43.8 million at March 31, 2025. The Company’s loan pipeline with executed term sheets at March 31, 2025 is approximately $255.0 million, with approximately 92% being niche-residential, conventional C&I and SBA lending opportunities.

The Bank remains focused on expanding its core verticals and continues to originate loans for its portfolio and for sale in the secondary market under its residential flow origination program. Of the $48.8 million in closed residential loans originated in the quarter ended March 31, 2025, $27.6 million were originated for the Bank’s portfolio and reflected a weighted average yield of 6.64% before origination and other fees, which average 50-100 bps per loan, and a weighted average LTV of 58%. The remaining $21.2 million of closed loans were originated for sale in the secondary market. During the quarter ended March 31, 2025, the Company sold $18.3 million of residential loans under its flow origination program and recorded gains on sale of loans held-for-sale of $0.4 million with a premium of 2.38%.

During the quarters ended March 31, 2025 and 2024, the Company sold approximately $23.4 million and $26.7 million, respectively, in government guaranteed SBA loans and recorded gains on sale of loans held-for-sale of $1.9 million and $2.5 million, respectively. SBA loan originations and gains on sale were lower due to a combination of factors, including: lower than expected loan sale premiums due, we believe, to first quarter market turmoil; delays in loan closings resulting from the impact of administrative changes to SBA Standard Operating Procedures; and the inability of certain loans to close because of delays by state regulatory agencies in issuing permit approvals to certain borrowers. As we enter the second quarter of 2025, we expect to navigate these factors and to increase the volume of origination and loan sale activity throughout the year. The Bank concluded the first quarter of 2025 with C&I loan originations of approximately $16.8 million. Based on its existing pipeline, the Bank expects C&I lending and deposit activity to grow as the year progresses.

Commercial Real Estate Statistics

A significant portion of the Bank’s commercial real estate portfolio consists of loans secured by Multi-Family and CRE-Investor owned real estate that are predominantly subject to fixed interest rates for an initial period of 5 years. The Bank’s exposure to Land/Construction loans is minor at $8.0 million, all at floating interest rates. As shown below, 31% of the loan balances in these combined portfolios will either have a rate reset or mature in 2025 and 2026, with another 56% with rate resets or maturing in 2027.

Multi-Family Market Rent Portfolio Fixed Rate Reset/Maturity Schedule								Multi-Family Stabilized Rent Portfolio Fixed Rate Reset/Maturity Schedule
Calendar Period	# Loans	Total O/S ($000’s omitted)		Avg O/S ($000’s omitted)		Avg Interest Rate		Calendar Period	# Loans	Total O/S ($000’s omitted)		Avg O/S ($000’s omitted)		Avg Interest Rate

2025	10	$	16,321	$	1,632	4.45	%	2025	10	$	17,025	$	1,703	5.03	%
2026	36		117,886		3,275	3.66	%	2026	20		42,549		2,127	3.67	%
2027	70		174,601		2,494	4.29	%	2027	53		123,668		2,333	4.22	%
2028	16		21,382		1,336	6.20	%	2028	13		10,914		839	7.17	%
2029	6		4,929		821	7.70	%	2029	4		4,328		1,082	6.38	%
2030+	2		171		85	6.00	%	2030+	4		1,129		282	6.02	%
Fixed Rate	140		335,290		2,395	4.61	%	Fixed Rate	104		199,613		1,919	4.39	%
Floating Rate	2		749		375	9.50	%	Floating Rate	—		—		—	—	%
Total	142	$	336,039	$	2,366	4.26	%	Total	104	$	199,613	$	1,919	4.39	%

CRE Investor Portfolio Fixed Rate Reset/Maturity Schedule
Calendar Period	# Loans	Total O/S ($000’s omitted)		Avg O/S ($000’s omitted)		Avg Interest Rate

2025	29	$	23,092	$	796	6.13	%
2026	33		41,668		1,263	4.84	%
2027	90		162,557		1,806	5.03	%
2028	30		31,763		1,059	6.64	%
2029	4		2,353		588	7.03	%
2030+	13		7,967		613	6.49	%
Fixed Rate	199		269,400		1,354	5.35	%
Floating Rate	5		19,074		3,815	8.73	%
Total CRE-Inv.	204	$	288,474	$	1,414	5.57	%

Rental breakdown of Multi-Family portfolio

The table below segments our portfolio of loans secured by Multi-Family properties based on rental terms and location. As shown below, 63% of the combined portfolio is secured by properties subject to free market rental terms, which is the dominant tenant type. Both the Market Rent and Stabilized Rent segments of our portfolio present very similar average borrower profiles. The portfolio is primarily located in the New York City boroughs of Brooklyn, the Bronx and Queens.

Multi-Family Loan Portfolio – Loans by Rent Type
Rent Type	# of Notes	Outstanding Loan Balance		% of Total Multi-Family		Avg Loan Size		LTV		Current DSCR	Avg # of Units
		($000’s omitted)				($000’s omitted)

Market	142	$	336,039	63	%	$	2,366	61.5	%	1.41	11
Location
Manhattan	7	$	10,299	2	%	$	1,471	49.6	%	1.88	14
Other NYC	93	$	244,552	46	%	$	2,630	61.2	%	1.40	9
Outside NYC	42	$	81,188	15	%	$	1,933	64.2	%	1.36	13

Stabilized	104	$	199,613	37	%	$	1,919	62.1	%	1.42	12
Location
Manhattan	6	$	8,843	2	%	$	1,474	44.2	%	1.58	17
Other NYC	86	$	171,852	32	%	$	1,998	62.8	%	1.41	11
Outside NYC	12	$	18,918	3	%	$	1,576	64.1	%	1.49	16

Office Property Exposure

The Bank’s exposure to the Office market is minor. Loans secured by office space accounted for 2.23% of the total loan portfolio with a total balance of $43.8 million, of which less than 1% is located in Manhattan. The pool has a 2.32x weighted average DSCR, a 53% weighted average LTV and less than $353,000 of exposure in Manhattan.

Asset Quality and Allowance for Credit Losses

At March 31, 2025, the Bank’s asset quality metrics improved with non-performing loans totaling $11.7 million compared to non-performing loans of $16.4 million at December 31, 2024, a decrease of $4.7 million. This decrease resulted primarily from the contracted sale of non-performing loans totaling $5.0 million, net of a $0.3 million charge-off, during the quarter. At March 31, 2025 non-performing loans were 0.60% of total loans outstanding versus 0.82% at December 31, 2024.

During the first quarter of 2025, the Bank recorded a provision for credit losses expense of $0.6 million. The March 31, 2025 allowance for credit losses was $22.9 million versus $22.8 million at December 31, 2024. The allowance for credit losses as a percentage of total loans was 1.17% at March 31, 2025 and 1.15% at December 31, 2024.

Net Interest Margin

The Bank’s net interest margin increased to 2.68% for the quarter ended March 31, 2025 compared to 2.53% in the quarter ended December 31, 2024 and 2.41% in the quarter ended March 31, 2024 due to the recent reductions in the Fed Funds effective rate and the liability sensitive nature of the Bank’s balance sheet.

About Hanover Community Bank and Hanover Bancorp, Inc.

Hanover Bancorp, Inc. (NASDAQ: HNVR), is the bank holding company for Hanover Community Bank, a community commercial bank focusing on highly personalized and efficient services and products responsive to client needs. Management and the Board of Directors are comprised of a select group of successful local businesspeople who are committed to the success of the Bank by knowing and understanding the metro-New York area’s financial needs and opportunities. Backed by state-of-the-art technology, Hanover offers a full range of financial services. Hanover offers a complete suite of consumer, commercial, and municipal banking products and services, including multi-family and commercial mortgages, residential loans, business loans and lines of credit. Hanover also offers its customers access to 24-hour ATM service with no fees attached, free checking with interest, telephone banking, advanced technologies in mobile and internet banking for our consumer and business customers, safe deposit boxes and much more. The Company’s corporate administrative office is located in Mineola, New York where it also operates a full-service branch office along with additional branch locations in Garden City Park, Hauppauge, Forest Hills, Flushing, Sunset Park, Rockefeller Center and Chinatown, New York, and Freehold, New Jersey, with a new branch opening in Port Jefferson, New York in mid 2025.

Hanover Community Bank is a member of the Federal Deposit Insurance Corporation and is an Equal Housing/Equal Opportunity Lender. For further information, call (516) 548-8500 or visit the Bank’s website at www.hanoverbank.com.

Non-GAAP Disclosure

This discussion, including the financial statements attached thereto, includes non-GAAP financial measures which include the Company’s adjusted net income, adjusted basic and diluted earnings per share, adjusted return on average assets, adjusted return on average equity, tangible common equity (“TCE”) ratio, TCE, tangible assets, tangible book value per share, return on average tangible equity and efficiency ratio. A non-GAAP financial measure is a numerical measure of historical or future performance, financial position or cash flows that excludes or includes amounts that are required to be disclosed in the most directly comparable measure calculated and presented in accordance with generally accepted accounting principles in the United States (“U.S. GAAP”). The Company’s management believes that the presentation of non-GAAP financial measures provides both management and investors with a greater understanding of the Company’s operating results and trends in addition to the results measured in accordance with GAAP, and provides greater comparability across time periods. While management uses non-GAAP financial measures in its analysis of the Company’s performance, this information is not meant to be considered in isolation or as a substitute for the numbers prepared in accordance with U.S. GAAP or considered to be more important than financial results determined in accordance with U.S. GAAP. The Company’s non-GAAP financial measures may not be comparable to similarly titled measures used by other financial institutions.

With respect to the calculations of and reconciliations of adjusted net income, TCE, tangible assets, TCE ratio and tangible book value per share, reconciliations to the most comparable U.S. GAAP measures are provided in the tables that follow.

Forward-Looking Statements

This release may contain certain “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995 and may be identified by the use of such words as “may,” “believe,” “expect,” “anticipate,” “should,” “plan,” “estimate,” “predict,” “continue,” and “potential” or the negative of these terms or other comparable terminology. Examples of forward-looking statements include, but are not limited to, estimates with respect to the financial condition, results of operations and business of Hanover Bancorp, Inc. Any or all of the forward-looking statements in this release and in any other public statements made by Hanover Bancorp, Inc. may turn out to be incorrect. They can be affected by inaccurate assumptions that Hanover Bancorp, Inc. might make or by known or unknown risks and uncertainties, including those discussed in our Annual Report on Form 10-K under Item 1A – Risk Factors, as updated by our subsequent filings with the Securities and Exchange Commission. Further, the adverse effect of health emergencies or natural disasters on the Company, its customers, and the communities where it operates may adversely affect the Company’s business, results of operations and financial condition for an indefinite period of time. Consequently, no forward-looking statement can be guaranteed. Hanover Bancorp, Inc. does not intend to update any of the forward-looking statements after the date of this release or to conform these statements to actual events.

Investor and Press Contact:
Lance P. Burke
Chief Financial Officer
(516) 548-8500


HANOVER BANCORP, INC.
STATEMENTS OF CONDITION (unaudited)
(dollars in thousands)


		March 31,			December 31,			March 31,
			2025			2024			2024
Assets
Cash and cash equivalents		$	160,234		$	162,857		$	136,481
Securities-available for sale, at fair value			93,197			83,755			92,709
Investments-held to maturity			3,671			3,758			3,973
Loans held for sale			16,306			12,404			7,641

Loans, net of deferred loan fees and costs			1,960,674			1,985,524			2,005,515
Less: allowance for credit losses			(22,925	)		(22,779	)		(19,873	)
Loans, net			1,937,749			1,962,745			1,985,642

Goodwill			19,168			19,168			19,168
Premises & fixed assets			14,511			15,337			15,648
Operating lease assets			8,484			8,337			9,336
Other assets			38,207			43,749			36,910
	Assets	$	2,291,527		$	2,312,110		$	2,307,508

Liabilities and stockholders’ equity
Core deposits		$	1,418,209		$	1,456,513		$	1,453,035
Time deposits			518,229			497,770			464,227
Total deposits			1,936,438			1,954,283			1,917,262

Borrowings			107,805			107,805			148,953
Subordinated debentures			24,702			24,689			24,648
Operating lease liabilities			9,144			9,025			10,039
Other liabilities			16,795			19,670			17,063
	Liabilities		2,094,884			2,115,472			2,117,965

Stockholders’ equity			196,643			196,638			189,543
	Liabilities and stockholders’ equity	$	2,291,527		$	2,312,110		$	2,307,508


HANOVER BANCORP, INC.
CONSOLIDATED STATEMENTS OF INCOME (unaudited)
(dollars in thousands, except per share data)

	Three Months Ended
	3/31/2025		3/31/2024

Interest income	$	32,837	$	32,432
Interest expense		18,208		19,497
Net interest income		14,629		12,935
Provision for credit losses		600		300
Net interest income after provision for credit losses		14,029		12,635

Loan servicing and fee income		1,081		913
Service charges on deposit accounts		117		96
Gain on sale of loans held-for-sale		2,352		2,506
Other operating income		182		61
Non-interest income		3,732		3,576

Compensation and benefits		7,232		5,562
Conversion expenses		3,180		–
Occupancy and equipment		1,836		1,770
Data processing		593		518
Professional fees		787		818
Federal deposit insurance premiums		337		318
Other operating expenses		2,031		1,818
Non-interest expense		15,996		10,804

Income before income taxes		1,765		5,407
Income tax expense		244		1,346

Net income	$	1,521	$	4,061

Earnings per share (“EPS”):⁽¹⁾
Basic	$	0.20	$	0.55
Diluted	$	0.20	$	0.55

Average shares outstanding for basic EPS ⁽¹⁾⁽²⁾		7,463,537		7,376,227
Average shares outstanding for diluted EPS ⁽¹⁾⁽²⁾		7,469,489		7,420,926

⁽¹⁾ Calculation includes common stock and Series A preferred stock.
⁽²⁾ Average shares outstanding before subtracting participating securities.


HANOVER BANCORP, INC.
CONSOLIDATED STATEMENTS OF INCOME (unaudited)
QUARTERLY TREND
(dollars in thousands, except per share data)

	Three Months Ended
	3/31/2025		12/31/2024		9/30/2024		6/30/2024		3/31/2024

Interest income	$	32,837	$	33,057	$	34,113	$	33,420	$	32,432
Interest expense		18,208		19,249		21,011		20,173		19,497
Net interest income		14,629		13,808		13,102		13,247		12,935
Provision for credit losses		600		400		200		4,040		300
Net interest income after provision for credit losses		14,029		13,408		12,902		9,207		12,635

Loan servicing and fee income		1,081		981		960		836		913
Service charges on deposit accounts		117		136		123		114		96
Gain on sale of loans held-for-sale		2,352		3,014		2,834		2,586		2,506
Gain on sale of investments		–		27		–		4		–
Other operating income		182		29		37		82		61
Non-interest income		3,732		4,187		3,954		3,622		3,576

Compensation and benefits		7,232		6,699		6,840		6,499		5,562
Conversion expenses		3,180		–		–		–		–
Occupancy and equipment		1,836		1,810		1,799		1,843		1,770
Data processing		593		536		547		495		518
Professional fees		787		782		762		717		818
Federal deposit insurance premiums		337		375		360		365		318
Other operating expenses		2,031		2,198		1,930		1,751		1,818
Non-interest expense		15,996		12,400		12,238		11,670		10,804

Income before income taxes		1,765		5,195		4,618		1,159		5,407
Income tax expense		244		1,293		1,079		315		1,346

Net income	$	1,521	$	3,902	$	3,539	$	844	$	4,061

Earnings per share (“EPS”):⁽¹⁾
Basic	$	0.20	$	0.53	$	0.48	$	0.11	$	0.55
Diluted	$	0.20	$	0.52	$	0.48	$	0.11	$	0.55

Average shares outstanding for basic EPS ⁽¹⁾⁽²⁾		7,463,537		7,427,583		7,411,064		7,399,816		7,376,227
Average shares outstanding for diluted EPS ⁽¹⁾⁽²⁾		7,469,489		7,456,471		7,436,068		7,449,110		7,420,926

⁽¹⁾ Calculation includes common stock and Series A preferred stock.
⁽²⁾ Average shares outstanding before subtracting participating securities.


HANOVER BANCORP, INC.
CONSOLIDATED NON-GAAP FINANCIAL INFORMATION ⁽¹⁾(unaudited)
(dollars in thousands, except per share data)

	Three Months Ended
	3/31/2025			3/31/2024

ADJUSTED NET INCOME:
Net income, as reported	$	1,521		$	4,061
Adjustments:
Conversion expenses		3,180			–
Total adjustments, before income taxes		3,180			–
Adjustment for reported effective income tax rate		608			–
Total adjustments, after income taxes		2,572			–
Adjusted net income	$	4,093		$	4,061
Basic earnings per share – adjusted	$	0.55		$	0.55
Diluted earnings per share – adjusted	$	0.55		$	0.55

ADJUSTED OPERATING EFFICIENCY RATIO:
Operating efficiency ratio, as reported		87.12	%		65.44	%
Adjustments:
Conversion expenses		-17.32	%		0.00	%
Adjusted operating efficiency ratio		69.80	%		65.44	%

ADJUSTED RETURN ON AVERAGE ASSETS		0.73	%		0.74	%
ADJUSTED RETURN ON AVERAGE EQUITY		8.36	%		8.70	%
ADJUSTED RETURN ON AVERAGE TANGIBLE EQUITY		9.27	%		9.71	%

⁽¹⁾ A non-GAAP financial measure is a numerical measure of historical or future financial performance, financial position or cash flows that excludes or includes amounts that are required to be disclosed in the most directly comparable measure calculated and presented in accordance with generally accepted accounting principles in the United States (“U.S. GAAP”). The Company’s management believes the presentation of non-GAAP financial measures provide investors with a greater understanding of the Company’s operating results in addition to the results measured in accordance with U.S. GAAP. While management uses non-GAAP measures in its analysis of the Company’s performance, this information should not be viewed as a substitute for financial results determined in accordance with U.S. GAAP or considered to be more important than financial results determined in accordance with U.S. GAAP.


HANOVER BANCORP, INC.
SELECTED FINANCIAL DATA (unaudited)
(dollars in thousands)


	Three Months Ended
	3/31/2025			3/31/2024
Profitability:
Return on average assets		0.27	%		0.74	%
Return on average equity ⁽¹⁾		3.11	%		8.70	%
Return on average tangible equity ⁽¹⁾		3.45	%		9.71	%
Pre-provision net revenue to average assets		0.42	%		1.03	%
Yield on average interest-earning assets		6.01	%		6.03	%
Cost of average interest-bearing liabilities		4.01	%		4.33	%
Net interest rate spread ⁽²⁾		2.00	%		1.70	%
Net interest margin ⁽³⁾		2.68	%		2.41	%
Non-interest expense to average assets		2.85	%		1.96	%
Operating efficiency ratio ⁽⁴⁾		87.12	%		65.44	%

Average balances:
Interest-earning assets	$	2,217,107		$	2,162,835
Interest-bearing liabilities		1,842,073			1,810,397
Loans		1,989,796			1,984,075
Deposits		1,919,436			1,842,642
Borrowings		133,665			162,427


⁽¹⁾ Includes common stock and Series A preferred stock.
⁽²⁾ Represents the difference between the yield on average interest-earning assets and the cost of average interest-bearing liabilities.
⁽³⁾ Represents net interest income divided by average interest-earning assets.
⁽⁴⁾ Represents non-interest expense divided by the sum of net interest income and non-interest income.

HANOVER BANCORP, INC.
SELECTED FINANCIAL DATA (unaudited)
(dollars in thousands, except share and per share data)

	At or For the Three Months Ended
	3/31/2025				12/31/2024				9/30/2024				6/30/2024
Asset quality:
Provision for credit losses – loans ⁽¹⁾	$	600			$	400			$	200			$	3,850
Net (charge-offs)/recoveries		(454		)		(1,027		)		(438		)		(79		)
Allowance for credit losses		22,925				22,779				23,406				23,644
Allowance for credit losses to total loans ⁽²⁾		1.17	%			1.15	%			1.17	%			1.17	%
Non-performing loans	$	11,697			$	16,368			$	15,365			$	15,828
Non-performing loans/total loans		0.60	%			0.82	%			0.77	%			0.79	%
Non-performing loans/total assets		0.51	%			0.71	%			0.66	%			0.68	%
Allowance for credit losses/non-performing loans		195.99	%			139.17	%			152.33	%			149.38	%

Capital (Bank only):
Tier 1 Capital	$	201,925			$	201,744			$	198,196			$	195,703
Tier 1 leverage ratio		8.95	%			9.13	%			8.85	%			8.89	%
Common equity tier 1 capital ratio		13.37	%			13.32	%			12.99	%			12.78	%
Tier 1 risk based capital ratio		13.37	%			13.32	%			12.99	%			12.78	%
Total risk based capital ratio		14.62	%			14.58	%			14.24	%			14.21	%

Equity data:
Shares outstanding ⁽³⁾		7,503,731				7,427,127				7,428,366				7,402,163
Stockholders’ equity	$	196,643			$	196,638			$	192,339			$	190,072
Book value per share ⁽³⁾		26.21				26.48				25.89				25.68
Tangible common equity ⁽³⁾		177,239				177,220				172,906				170,625
Tangible book value per share ⁽³⁾		23.62				23.86				23.28				23.05
Tangible common equity (“TCE”) ratio ⁽³⁾		7.80	%			7.73	%			7.49	%			7.38	%

(1) Excludes $0, $0, $0 and $190 thousand provision for credit losses on unfunded commitments for the quarters ended 3/31/25, 12/31/24, 9/30/24 and 6/30/24, respectively.
(2) Calculation excludes loans held for sale.
(3) Includes common stock and Series A preferred stock.


HANOVER BANCORP, INC.
STATISTICAL SUMMARY
QUARTERLY TREND
(unaudited, dollars in thousands, except share data)

	3/31/2025			12/31/2024			9/30/2024			6/30/2024

Loan distribution ⁽¹⁾:
Residential mortgages	$	708,649		$	702,832		$	719,037		$	733,040
Multifamily		535,429			550,570			557,634			562,503
Commercial real estate		520,808			536,288			529,948			549,725
Commercial & industrial		170,442			168,909			171,899			139,209
Home equity		24,914			26,422			26,825			27,992
Consumer		432			503			470			485

Total loans	$	1,960,674		$	1,985,524		$	2,005,813		$	2,012,954

Sequential quarter growth rate		-1.25	%		-1.01	%		-0.35	%		0.37	%

CRE concentration ratio		369	%		385	%		397	%		403	%

Loans sold during the quarter	$	46,649		$	53,499		$	43,537		$	35,302

Funding distribution:
Demand	$	215,569		$	211,656		$	206,327		$	199,835
N.O.W.		698,297			692,890			621,880			661,998
Savings		46,275			48,885			53,024			44,821
Money market		458,068			503,082			572,213			571,170
Total core deposits		1,418,209			1,456,513			1,453,444			1,477,824
Time		518,229			497,770			504,100			464,105
Total deposits		1,936,438			1,954,283			1,957,544			1,941,929
Borrowings		107,805			107,805			125,805			148,953
Subordinated debentures		24,702			24,689			24,675			24,662

Total funding sources	$	2,068,945		$	2,086,777		$	2,108,024		$	2,115,544

Sequential quarter growth rate – total deposits		-0.91	%		-0.17	%		0.80	%		1.29	%

Period-end core deposits/total deposits ratio		73.24	%		74.53	%		74.25	%		76.10	%

Period-end demand deposits/total deposits ratio		11.13	%		10.83	%		10.54	%		10.29	%

⁽¹⁾ Excluding loans held for sale


HANOVER BANCORP, INC.
RECONCILIATION OF NON-GAAP FINANCIAL MEASURES ⁽¹⁾(unaudited)
(dollars in thousands, except share and per share amounts)


	3/31/2025			12/31/2024			9/30/2024			6/30/2024			3/31/2024
Tangible common equity
Total equity ⁽²⁾	$	196,643		$	196,638		$	192,339		$	190,072		$	189,543
Less: goodwill		(19,168	)		(19,168	)		(19,168	)		(19,168	)		(19,168	)
Less: core deposit intangible		(236	)		(250	)		(265	)		(279	)		(295	)
Tangible common equity ⁽²⁾	$	177,239		$	177,220		$	172,906		$	170,625		$	170,080

Tangible common equity (“TCE”) ratio
Tangible common equity ⁽²⁾	$	177,239		$	177,220		$	172,906		$	170,625		$	170,080
Total assets		2,291,527			2,312,110			2,327,814			2,331,098			2,307,508
Less: goodwill		(19,168	)		(19,168	)		(19,168	)		(19,168	)		(19,168	)
Less: core deposit intangible		(236	)		(250	)		(265	)		(279	)		(295	)
Tangible assets	$	2,272,123		$	2,292,692		$	2,308,381		$	2,311,651		$	2,288,045
TCE ratio ⁽²⁾		7.80	%		7.73	%		7.49	%		7.38	%		7.43	%

Tangible book value per share
Tangible equity ⁽²⁾	$	177,239		$	177,220		$	172,906		$	170,625		$	170,080
Shares outstanding ⁽²⁾		7,503,731			7,427,127			7,428,366			7,402,163			7,392,412
Tangible book value per share ⁽²⁾	$	23.62		$	23.86		$	23.28		$	23.05		$	23.01

⁽¹⁾ A non-GAAP financial measure is a numerical measure of historical or future financial performance, financial position or cash flows that excludes or includes amounts that are required to be disclosed in the most directly comparable measure calculated and presented in accordance with generally accepted accounting principles in the United States (“U.S. GAAP”). The Company’s management believes the presentation of non-GAAP financial measures provide investors with a greater understanding of the Company’s operating results in addition to the results measured in accordance with U.S. GAAP. While management uses non-GAAP measures in its analysis of the Company’s performance, this information should not be viewed as a substitute for financial results determined in accordance with U.S. GAAP or considered to be more important than financial results determined in accordance with U.S. GAAP.

⁽²⁾ Includes common stock and Series A preferred stock.


HANOVER BANCORP, INC.
NET INTEREST INCOME ANALYSIS
For the Three Months Ended March 31, 2025 and 2024
(unaudited, dollars in thousands)


		2025						2024
	Average				Average		Average				Average
	Balance		Interest		Yield/Cost		Balance		Interest		Yield/Cost

Assets:
Interest-earning assets:
Loans	$	1,989,796	$	29,984	6.11	%	$	1,984,075	$	29,737	6.03	%
Investment securities		85,839		1,186	5.60	%		94,845		1,457	6.18	%
Interest-earning cash		133,458		1,482	4.50	%		74,672		1,014	5.46	%
FHLB stock and other investments		8,014		185	9.36	%		9,243		224	9.75	%
Total interest-earning assets		2,217,107		32,837	6.01	%		2,162,835		32,432	6.03	%
Non interest-earning assets:
Cash and due from banks		9,504						7,945
Other assets		49,695						49,941
Total assets	$	2,276,306					$	2,220,721

Liabilities and stockholders’ equity:
Interest-bearing liabilities:
Savings, N.O.W. and money market deposits	$	1,217,429	$	11,455	3.82	%	$	1,161,191	$	12,933	4.48	%
Time deposits		490,979		5,320	4.39	%		486,779		4,962	4.10	%
Total savings and time deposits		1,708,408		16,775	3.98	%		1,647,970		17,895	4.37	%
Borrowings		108,972		1,107	4.12	%		137,788		1,276	3.72	%
Subordinated debentures		24,693		326	5.35	%		24,639		326	5.32	%
Total interest-bearing liabilities		1,842,073		18,208	4.01	%		1,810,397		19,497	4.33	%
Demand deposits		211,028						194,672
Other liabilities		24,726						27,959
Total liabilities		2,077,827						2,033,028
Stockholders’ equity		198,479						187,693
Total liabilities & stockholders’ equity	$	2,276,306					$	2,220,721
Net interest rate spread					2.00	%					1.70	%
Net interest income/margin			$	14,629	2.68	%			$	12,935	2.41	%

The MIL Network –

April 24, 2025

MIL-OSI United Kingdom: Greens challenge “con artist” Farage to climate TV debate

Source: Green Party of England and Wales

23 April 2025/ 23 April 2025 by Green Party

Responding to Nigel Farage’s comments on Radio 4’s Today Programme where he refused to accept that carbon emissions are leading to climate change, Green Party Co-Leader, Adrian Ramsay MP, hit back saying:

“Nigel Farage is a performer, a con artist. He will say or do anything. He will happily dance to a populist tune regardless of its impact. Let’s not forget he’s bankrolled by fossil fuel interests, climate deniers, and major polluters—taking in £2.3 million since the 2019 election.

This morning’s performance suggested he hasn’t got the slightest grasp of even the most basic climate science. But I think it’s worse than that. He understands all too well human-made climate change, but he is willing to pretend he doesn’t and stand in the way of climate action for his party’s populist agenda.

If he really does believe what he says, let’s see if his ridiculous rhetoric stands up to actual scrutiny – let’s see if he is prepared to take part in an hour-long TV debate about climate change and the challenge of reaching net zero?”

MIL OSI United Kingdom –

April 24, 2025
MIL-OSI United Kingdom: Statement on sad passing of Ian Hall
Source: City of Preston
23 April 2025

We are saddened to announce the death of Ian Hall, Honorary Freeman and Alderman of the City who died on Monday 21 April at the age of 98.

Ian was first elected as a Preston councillor in 1964 and stood down in 2007 after a remarkable 43 years’ service.

During his long service as councillor, he was twice Mayor of Preston in 1974-5 and 1994-5 and Leader of the Council from 2000 to 2003. He had served in a similar position twice before as Chair of Policy and Resources Committee from 1973-76 and 1980-82.

He served as a Justice of the Peace from 1969, and Ian had an outstanding record in public service devoting so much of his time to the city and people of Preston.

Mayor of Preston, Councillor Phil Crowe pays tribute to Honorary Freeman and Alderman, and former Councillor and Mayor, Ian Hall:

“Ian was a most dedicated and well-respected public servant for Preston. He served on so many committees and bodies and was always striving to improve the lives of his fellow Prestonians.

“He was heavily involved in the organisation of the Preston Guild of 1992 and the redevelopment work around Preston Docks. He oversaw the transfer of the then Preston Borough Transport Department to Preston Bus, an employee-owned company. His contribution to Preston and its residents cannot be underestimated.

“I send my condolences, along with those of everyone at Preston City Council, to Ian’s family and friends at this sad time. May he Rest in Peace.”

More information

Ian Hall was first elected to Preston County Borough Council in 1964.

He was made an Honorary Freeman of the City May 1992.

He was made an Honorary Alderman of the City in 2007 after retiring as a Councillor after 43 years service.

We will update with funeral information as this becomes available.

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MIL OSI United Kingdom –
April 24, 2025
MIL-OSI United Kingdom: New funding to support Windrush compensation scheme applications
Source: United Kingdom – Executive Government & Departments

News story

New funding to support Windrush compensation scheme applications

A successful grassroots fund has been extended after reaching 50,000 people in first year. Applications are now open for grants between £5,000 and £10,000.
Windrush scandal victims yet to claim compensation are being encouraged to come forward as part of a grassroots scheme extended by the Home Office today.

The government is making a further £150,000 available to the Community Engagement Fund (CEF), which was set up to raise awareness of the Windrush compensation and documentation scheme.

The successful first round of funding helped grassroots organisations reach more than 50,000 people who may be entitled to claim, while revealing barriers preventing victims from coming forward.

Local groups can now apply for grants of £5,000 to £10,000 to deliver projects that address these barriers, particularly the widespread misconception that Windrush schemes only apply to Caribbean communities.

Minister for Migration and Citizenship, Seema Malhotra, said:

Windrush victims have waited too long for recognition and redress – with many still not feeling able to come forward to access the compensation they are entitled to.

We need to see this change. By funding trusted grassroots organisations to provide advocacy and support, we want to better reach those who have been wronged but remain unaware of the support available.

This government is determined to deliver on its manifesto commitment that every victim of this scandal receives the justice they deserve.

Insights from the first CEF funding round revealed that while compensation scheme awareness is higher among Caribbean communities, people from other backgrounds have not applied due to confusion about their eligibility or misconceptions about the schemes.

The additional support will be of immense importance to victims. For many, the Home Office Windrush scandal resulted in loss of employment, denial of healthcare, threats of deportation, and in some cases, actual deportation from a country they had every right to call home.

CEF applicants with strong community links will be prioritised. Projects must be completed within the 2025/26 financial year and should focus on:

raising awareness among non-Caribbean communities and correcting misinformation

gathering insights on why eligible individuals aren’t applying

helping potential claimants connect with support services

The CEF complements the recently launched £1.5 million Advocacy Support Fund, which helps organisations provide practical and emotional assistance to victims making compensation claims.

The funds deliver on the government’s manifesto commitment to provide additional support and work more closely with affected communities, forming part of the wider Plan for Change to deliver justice for Windrush victims.

The deadline for CEF applications is 4pm on 28 May 2025. Full details are available at the ‘Find a Grant’ portal on GOV.UK.

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Updates to this page

Published 23 April 2025
MIL OSI United Kingdom –
April 23, 2025
MIL-OSI USA: Student Activities Building a Sense of Belonging at UConn’s Regional Campuses

Source: US State of Connecticut

To watch Aylanie Bonilla in action as a UConn Waterbury student ambassador, it’s easy to imagine she’s always been the sociable go-getter who leads campus tours, meets with high schoolers, and participates in multiple clubs.

But it’s those very activities she credits with giving her a sense of belonging at UConn, where the Storrs campus felt so large to her in her first semester that she transferred to her hometown campus in Waterbury.

Like thousands of other students at UConn’s four regional campuses, Bonilla ’26 (CLAS) found her voice and her community through student clubs, an on-campus learning community, and other extracurricular activities.

She jokes that she’s not sure many of her high school teachers would even remember her name since she was so shy and barely spoke up in class. They’d certainly be surprised now to see her comfortably chatting with strangers, joining clubs, and serving as a program assistant for the Walkbury community initiative.

“When I became an orientation leader on campus, I just started talking, and I haven’t really stopped,” says Bonilla ’26 (CLAS). “It was really easy to get involved here and to make friends in the clubs and the classes. The feeling is like being part of a big family.”

UConn Avery Point Women’s Basketball team practicing at UConn Avery Point. (Sean Flynn/UConn Photo)

Overall, about 5,100 of UConn’s estimated 19,800 undergraduates count one of those locations as their home campus.

With the vast majority of all regional campus students being Connecticut natives, those locations offer the benefits of a UConn education with the convenience of being in communities where students can live, work, and socialize.

Like the flagship Storrs campus, the campuses in Avery Point, Hartford, Stamford, and Waterbury each have student government groups, academic and social clubs, and a range of formal and informal activities.

Regional campus students can also participate in many of the clubs based at Storrs, including having local versions at their own locations. The events are tailored to the unique goals and experiences shared by regional campus students, many of whom balance their classes and clubs with jobs, family obligations, and community activities.

“It is widely known from student development research, along with the experience of our own students, that engagement in clubs and organizations has dramatic and positive impact on a student’s experience. They also help UConn to attract increasing numbers of top students to our campuses,” says Nathan Fuerst, UConn’s vice president for student life and enrollment.

Having robust campus activities also helps UConn retain and continue to improve its strong retention and graduation rates as students meet peers, mentors, and others to whom they can turn for help if they’re facing obstacles.

UConn has prioritized a commitment to expanding its regional campus offerings as part of its Strategic Plan, building on each location’s strengths to make them destinations for students interested in specific majors or programs.

The clubs are a perfect complement to that work, and part of a wider network of services that also include more advising support and expanded on-site Student Health & Wellness offerings such as nurse navigators, mental health clinical care case workers, and health promotion programs.

Students playing a game of chess at UConn Hartford. (Sean Flynn/UConn Photo)

In addition to the academic and social clubs, each regional campus offers library and research resources, small courses with experienced faculty, and programs to help students engage with the communities in which the campuses are located.

Each campus offers clubs in which students connect with each other through common cultural backgrounds, volunteer activities, religious affiliations, and other attributes. The clubs also build on the academic, social, and community ties unique to each regional campus.

At UConn Avery Point, for instance, clubs for sailing and paddling, scuba diving, and marine sciences help students take advantage of the waterfront location and resources – in addition to clubs for learning, relaxation, and cultural connections.

UConn Hartford’s location in Connecticut’s capital city provides an ideal setting for clubs helping students advance their aspirations in business, social work, healthcare and other professions, while also offering fun opportunities to connect through gaming, dance, and other pursuits.

At the Stamford campus, students participate in a variety of political, cultural, and professional clubs that take advantage of its curriculum and location, and they can also have some fun in groups for debating, K-pop music, sports, and other activities.

Bonilla, the UConn Waterbury student, has been active in the K-pop group on that campus, where students participate in clubs that range from a business society focused on networking and professional development to ping pong and improv drama.

The campuses also provide many informal opportunities for students to connect, be it through casual slime-making sessions or building Chipotle-style burrito bowls – recent activities at UConn Waterbury that drew scores of students, including a line that stretched down the hallway for the burrito bowls.

Students celebrate the opening of the new Center for Academic Success and Engagement (CASE) at UConn Stamford (Sean Flynn/UConn Photo)

Bonilla is transferring to UConn Stamford this fall and expects to remain just as actively involved there, finishing her degree in communications and looking forward to finding the same sense of community that she discovered in Waterbury.

“I’m excited to be in a new area and meet new people, and to look for an internship in my field,” she says. “I know it’s a bigger campus than Waterbury, but I also feel like I have a good start and it’ll be fun to get really involved there like I’ve been here.”

MIL OSI USA News –

April 23, 2025
MIL-OSI USA: From UConn to the White House: A Conversation with Anita McBride ’81 (CLAS)

Source: US State of Connecticut

Anita McBride ’81 (CLAS) has spent decades working alongside some of the most influential women in American government: the first ladies who shaped national conversations both in the spotlight and behind the scenes.

This spring, McBride returned to UConn to share what she’s learned with students in the College’s Women’s Leadership Collective and First-Generation Mentorship Program, offering candid reflections on leadership, resilience, and public service.

“Anita McBride’s career reflects the many directions a UConn education can take you,” says Ofer Harel, dean of the College of Liberal Arts and Sciences. “Her visit gave students a valuable opportunity to hear how mentorship and public service have shaped her path — and how they might shape their own.”

A veteran of three presidential administrations, McBride held senior roles under Presidents Ronald Reagan, George H.W. Bush, and George W. Bush. As chief of staff to First Lady Laura Bush, she directed initiatives in global health, education, literacy, women’s empowerment, and historic preservation, and led diplomatic travel to 67 countries.

Today, she serves as executive-in-residence at American University’s Center for Congressional and Presidential Studies, where she leads the First Ladies Initiative. She is also a founding member of the First Ladies Association for Research and Education and sits on the board of the White House Historical Association.

McBride is the co-author of the first-ever textbook on first ladies, “U.S. First Ladies: Making History and Leaving Legacies”; its public-market adaptation, “Remember the First Ladies: The Legacies of America’s History-Making Women”; and a recent children’s book she co-wrote with her daughter, “First Ladies Make History.”

“Anita’s keynote brought lived experience, insight, and a sense of purpose that resonated with everyone in the room,” says Jessica Alexander, associate director of alumni relations for CLAS. “Our mentorship programs create meaningful connections between students and alumni.”

UConn Today caught up with McBride to discuss her path from UConn to the White House, and what she’s learned from a career at the highest levels of American government.

What advice do you have for first-generation students navigating college life and what comes after?

There is no one path — It’s constantly changing and moving. You need to be open to changes.

I came to UConn knowing exactly what I wanted to do. I was pre-med — until I failed. It was the first time I’d been hit with failure. I went to meet with an advisor, and while I was there, I saw a sign for a new study abroad program in Italy. I grew up in an Italian immigrant household, so I figured this might be a way for me to reset my academic path and also see where my family came from. I applied and was accepted.

It was the most transformative experience of my life on so many levels. I just gained so much confidence. I’m a big believer in fate, so walking into that building that day and seeing that sign, something about it felt so familiar.

It’s scary to make a real pivot like that — and it wasn’t the last one I’ve made. When you go into politics, you never know what’s coming from one day to the next. The person you work for can win or lose. You’re in, you’re out. There’s a lot to navigate. What got me through all those changes was the belief that there’s always a new opportunity.

How did UConn prepare you for success?

UConn helped me navigate some turns, pivots, and challenges. It was a formative time for me. I built friendships that I still hold close today. It gave me a platform to make choices and changes, and I’ve always appreciated that.

I’ve never really left my experience at UConn behind — I’ve just carried it with me and have used it in different ways throughout my life.

You’re considered one of the foremost experts on U.S. first ladies. How did you become interested in this subject?

I had a front-row seat to history, watching this position up close in three administrations, with Nancy Reagan, Barbara Bush, and Laura Bush. It’s a powerful platform, despite having no official authority, position description, salary, or mention in the Constitution. I really appreciated the impact they could have, and that they’re not required to do anything with the role if they choose not to.

After I left the White House, the president of American University met with me and expressed interest in developing a program to study the growing influence of first ladies. That conversation led me to launch a conference series on the legacies of first ladies that eventually grew into an established academic initiative at American University. It covers their influence not only on the president, but on the presidency and the White House in general.

Who, in your opinion, is the most influential first lady?

Eleanor Roosevelt, bar none. She held the role for 12 years — longer than anyone else — and came in highly educated, politically active, and already in the public eye. She gave paid speeches, had a radio show, and wrote a daily newspaper column before becoming First Lady.

Her husband didn’t want her to have a public role, but she pushed back. She held press conferences for female reporters, who were excluded from the president’s briefings, and gave them a platform during a critical time for women in journalism.

She also took controversial stances, especially on civil and human rights. When the Daughters of the American Revolution refused to let [renowned Black opera singer] Marian Anderson perform at Constitution Hall, Roosevelt not only resigned from the group, but she also helped arrange Anderson’s now-historic performance at the Lincoln Memorial.

These were bold steps. She didn’t get everything right and was controversial, but she set a standard for activism that went unmatched for a long time.

What inspired you to write a children’s book, and what do you hope young readers will take away from it?

The children’s book grew out of my academic work. I initially set out to fill a gap in the literature with a textbook, highlighting the contributions of first ladies — often unsung and underappreciated.

Turning it into a children’s book was an exciting new challenge, especially because I did it with my daughter, who is studying to be an elementary school teacher. She had her own front-row seat to history — watching me work and having some exposure to the White House. Together, we adapted the stories from my book for children and worked with an illustrator. I brought the content, and she helped shape it for a young audience.

For me, this book is about civic education. If we want people to truly understand and care about our history, we have to start at an earlier age. As divided as we are right now, I still believe this is one of the best systems of government — and it’s up to all of us to be part of it.

You’ve served several presidential administrations. What’s one thing that sticks with you about that experience?

I’ve met a lot of people in politics with different views. But one of the most lasting lessons I learned came from Laura Bush, the First Lady to former President George W. Bush, who served from 2001 to 2009 during a very turbulent time. Those eight years included two wars, the Sept. 11 attacks, Hurricane Katrina, and the economic collapse. Her husband faced a lot of criticism, and I’d often ask her how she handled it.

She never took the political bait. She kept things calm and steady, no matter the pressure. If she was disappointed, you could tell — but she expressed it with quiet resolve, she used her voice but didn’t raise her voice.

What she taught me was this: In public service, you can’t take criticism personally. She would say, “I know who George is. We know who we are as a family. That’s what gets us through.” That mindset has stayed with me. In politics, you have to realize that not everyone will agree with you.

It’s a challenging time, both economically and politically. What advice do you have for students on how to succeed through the challenges?

Be respectful of other people’s opinions. Try and not respond in a way that’s adversarial, even if that’s what you see all around you. You don’t have to be that person.

MIL OSI USA News –

April 23, 2025
MIL-OSI China: MOFA thanks Saint Christopher and Nevis National Assembly for passing resolution endorsing Taiwan’s participation in international organizations
Source: Republic of Taiwan – Ministry of Foreign Affairs

MOFA thanks Saint Christopher and Nevis National Assembly for passing resolution endorsing Taiwan’s participation in international organizations
- Date：2025-04-18
- Data Source：Department of Latin American and Caribbean Affairs
April 18, 2025

No. 101

The National Assembly of Saint Christopher and Nevis on April 17 adopted a resolution proposed by Prime Minister Terrance Drew that endorsed Taiwan’s participation in the United Nations, the World Health Organization, the United Nations Framework Convention on Climate Change, the International Criminal Police Organization, and the International Civil Aviation Organization. The Ministry of Foreign Affairs (MOFA) sincerely appreciates the staunch and unwavering support and friendship that parliamentarians from governing and opposition parties of Saint Christopher and Nevis have shown toward Taiwan through concrete action.

The resolution pointed out that Saint Christopher and Nevis parliamentarians, as members of the Formosa Club, cherished their country’s diplomatic ties with Taiwan. It stated that over the years the two nations had built a robust friendship based on shared values of democracy, human rights, and the rule of law. The resolution lauded Taiwan for its contributions to global public health and recognized Taiwan’s efforts and actions in such fields as renewable energy, climate change adaptation, disaster warning systems, the fight against transnational crime, and the development of international civil aviation. It urged all sectors to support Taiwan’s professional, pragmatic, and constructive participation in the United Nations and other international organizations.

This marks the third consecutive year that the National Assembly of Saint Christopher and Nevis has passed a Taiwan-friendly resolution, underscoring the close and friendly diplomatic alliance between the two countries. Taiwan will continue to work with Saint Christopher and Nevis and other allies and like-minded nations to make even greater contributions to peace, security, and sustainable development across the globe. (E)

MIL OSI China News –
April 23, 2025
MIL-OSI China: MOFA response to false claims regarding Taiwan in joint statement between PRC and Cambodia
Source: Republic of Taiwan – Ministry of Foreign Affairs

MOFA response to false claims regarding Taiwan in joint statement between PRC and Cambodia
- Date：2025-04-19
- Data Source：Department of East Asian and Pacific Affairs
April 19, 2025

Chinese leader Xi Jinping met with Cambodian Prime Minister Hun Manet during a visit to Cambodia from April 17 to 18. The two sides issued a joint statement on April 18 falsely claiming that the authority of United Nations General Assembly Resolution 2758 “brooks no question or challenge.” It also said that Cambodia “recognizes that there is but one China in the world and emphasizes that the government of the People’s Republic of China is the sole legal government representing the whole of China, and Taiwan is an inalienable part of China’s territory.” These statements could not be further from the truth.

The Ministry of Foreign Affairs (MOFA) solemnly protests and condemns the Chinese government’s repeated dissemination of preposterous narratives aimed at undermining Taiwan’s sovereignty. It also expresses deep regret over the Cambodian government’s subservience to China, whose actions are designed to downgrade Taiwan’s sovereignty.

MOFA emphasizes that UNGA Resolution 2758 merely established China’s representation in the United Nations. It makes absolutely no mention of Taiwan, nor does it authorize the PRC to represent Taiwan in any international organization.

MOFA reaffirms that the Republic of China (Taiwan) is an independent, sovereign country; that neither the ROC (Taiwan) nor the PRC is subordinate to the other; and that the Chinese communist regime has never governed Taiwan. It also reiterates that narratives aimed at distorting Taiwan’s sovereign status run contrary to reality and cannot change the internationally recognized status quo across the Taiwan Strait. MOFA strongly denounces the Chinese government for repeatedly claiming that Taiwan is an internal issue at international events and attempting to downgrade Taiwan’s sovereignty.

MOFA calls on the global community to be aware of China’s efforts to use lawfare to misrepresent UNGA Resolution 2758, mischaracterize Taiwan as an internal matter, and block international support for Taiwan. MOFA urges nations worldwide to continue to take concrete action to counter and explicitly oppose China’s relentless misrepresentation of the resolution and China’s malicious endeavors to change the cross-strait status quo, thereby jointly safeguarding peace, stability, and prosperity across the Taiwan Strait and the Indo-Pacific region.

MIL OSI China News –
April 23, 2025
MIL-OSI China: MOFA welcomes pragmatic step by the Philippine government to promote closer bilateral interactions
Source: Republic of Taiwan – Ministry of Foreign Affairs

MOFA welcomes pragmatic step by the Philippine government to promote closer bilateral interactions
- Date：2025-04-21
- Data Source：Department of East Asian and Pacific Affairs
April 21, 2025

No. 108

The government of the Philippines issued Memorandum Circular No. 82 on April 21. The document, signed by Executive Secretary Lucas Bersamin, declared that the Philippine government would relax certain restrictions on interactions with Taiwan to promote economic, trade, and investment relations between the two countries.

Minister of Foreign Affairs Lin Chia-lung affirms the Philippine government’s pragmatic step to promote bilateral relations, expressing his belief that new regulations will help Taiwan continue to deepen substantive cooperation with the Philippines under the policy of integrated diplomacy.

The Ministry of Foreign Affairs stresses that Taiwan is the Philippines’ eighth-largest export market, ninth-largest trading partner, and 10th-largest source of imports. As Philippine President Ferdinand Marcos Jr. has emphasized repeatedly, peace and stability across the Taiwan Strait are a priority, while peace, security, and stability are the concern of all nations. Moving forward, Taiwan will continue to work with democratic allies such as the Philippines to jointly contribute to regional prosperity, peace, and stability. (E)

MIL OSI China News –
April 23, 2025

Contact:	Kevin J. Hayes
	SVP/General Counsel,
	Secretary & Chief
	Governance Officer
	717.339.5161
	khayes@acnb.com

Category: Politics

Part of a bigger plan

MOFA response to false claims regarding Taiwan in joint statement between PRC and Vietnam

Foreign Minister Lin and Tuvaluan Deputy Prime Minister Nelesone witness signing of agreements on labor cooperation and seafarer training and certification

MOFA response to Dutch House of Representatives passing four Taiwan-friendly motions

We are saddened to announce the death of Ian Hall, Honorary Freeman and Alderman of the City who died on Monday 21 April at the age of 98.

Mayor of Preston, Councillor Phil Crowe pays tribute to Honorary Freeman and Alderman, and former Councillor and Mayor, Ian Hall:

More information

New funding to support Windrush compensation scheme applications

Share this page

Updates to this page

What advice do you have for first-generation students navigating college life and what comes after?

How did UConn prepare you for success?

You’re considered one of the foremost experts on U.S. first ladies. How did you become interested in this subject?

Who, in your opinion, is the most influential first lady?

What inspired you to write a children’s book, and what do you hope young readers will take away from it?

You’ve served several presidential administrations. What’s one thing that sticks with you about that experience?

It’s a challenging time, both economically and politically. What advice do you have for students on how to succeed through the challenges?

MOFA thanks Saint Christopher and Nevis National Assembly for passing resolution endorsing Taiwan’s participation in international organizations

MOFA response to false claims regarding Taiwan in joint statement between PRC and Cambodia

MOFA welcomes pragmatic step by the Philippine government to promote closer bilateral interactions