Category: Scandinavia

MIL-OSI: Central Bank of Savings Banks Finland Plc: Savings Banks Group’s Release of Financial Statements for 2024
Source: GlobeNewswire (MIL-OSI)

Central Bank of Savings Banks Finland Plc 

Stock Exchange Release 
13th February 2025 at 6.55 am (CET +1) 

Savings Banks Group’s Release of Financial Statements for 2024 has been published. 

Document containing the Financial Statements Release is attached to this release. The Financial Statements Release can be also found at www.saastopankki.fi. 

 

SAVINGS BANKS GROUP 

Additional information: 

Kai Koskela
acting CEO 
Savings Banks’ Union Coop 
kai.koskela@sastopankki.fi
+358 40 549 0430  

Attachment
- Savings Banks Group’s Release of Financial Statements 31.12.2024
The MIL Network –
February 13, 2025
MIL-Evening Report: This is Australia’s only icebreaker. Here’s why experts say we need another

Source: The Conversation (Au and NZ) – By Jane Younger, Lecturer in Southern Ocean Vertebrate Ecology, Institute for Marine and Antarctic Studies, University of Tasmania

Australia’s Antarctic territory represents the largest sliver of the ice continent. For decades, Australian scientists have headed to one of our three bases – Mawson, Davis and Casey – as well as the base on sub-Antarctic Macquarie Island, to research everything from ecology to climate science.

But despite our role as leaders in Antarctic science, Australian funding and logistics for Antarctic research hasn’t kept pace. Our single icebreaking vessel spends most of its time on resupply missions, restricting its use for actual science. And funding is often piecemeal, which makes it hard to plan the complex, multi-year efforts it takes to do research down on the ice.

This week, we saw a welcome change. The federal parliamentary committee on Australia’s external territories delivered a report calling for a second icebreaking vessel and more reliable funding. It also urged the government to progress work on marine protected areas in east Antarctica as well as resume fishing patrols, due to concern over illegal or exploitative fishing.

These measures are long overdue. For those of us who work and study on the ice continent, logistics and funding have long been a challenge. Illegal fishing in Antarctica must be stamped out, and a second vessel would support our ambitious, world-leading science.

Why is Antarctic science so important?

Antarctica is often out of sight, out of mind for many Australians. But what happens on the ice doesn’t stay there.

For climate science, Antarctica matters a great deal. For decades, much of the concern about melting ice focused on the Arctic and Greenland, while Antarctica stayed relatively stable. But this is now changing. Sea ice is melting more quickly than in the past. Glacial ice is retreating. Increased melting will affect sea level rise and ocean currents.

I study diseases such as the lethal strain of bird flu which has devastated bird and some mammals populations around the world. It recently reached Antarctica, where it killed large numbers of penguins, skuas, crabeater seals and more. I saw the devastation myself on my recent journey there.

If this strain makes it to Australia – the last continent free of it – it could come from the south and devastate both Australian wildlife and poultry.

To study these large and important changes, we need to be down there on the ice. It’s not an easy task. Keeping our bases functional means we need regular resupply missions. Repairs and extensions require tradies. Scientists and other workers need to be brought home.

Antarctic science has long relied on just one vessel, now the RSV Nuniya, which the Australian Antarctic Division describes as the “main lifeline to Australia’s Antarctic and sub-Antarctic research stations and the central platform of our Antarctic and Southern Ocean scientific research”.

The problem is, resupply can trump science. After all, no one wants bases running short of food or fuel. This is, in fact, what the Nuniya is largely doing.

Australia’s role is key

The Australian Antarctic Territory represents about 40% of the ice continent – the largest territory by far.

Territory, here, doesn’t mean exclusive rights. In 1959, 12 nations with a scientific interest in the ice continent signed the Antarctic Treaty. This treaty was an agreement that Antarctica – the only landmass with no indigenous human presence – would be reserved for peaceful, scientific purposes.

But in recent years, this treaty has come under pressure. Nations such as Norway and China have expanded fishing operations for krill. Illegal and unregulated fishing from various nations continues.

The report recommends the Australian government continue efforts to establish a marine protected area off East Antarctica – where fishing would be restricted – as well as reopening fishing patrols. China – which recently opened its fifth Antarctic base – is opposed to the idea of fishing-free zones and is pushing to expand fishing in the Southern Ocean.

Under Antarctica’s ice lie many resources. Mining is banned in Antarctica until 2048. What happens after that is uncertain. The race to tap critical minerals in Greenland signals what may lie ahead for Antarctica.

This is why Australia’s leadership in Antarctic science matters. Australia was an original signatory to the Antarctic Treaty, and has a long history of exploration and science. Hobart has long been the home of Australia’s Antarctic vessels.

As Antarctica changes, Australian scientists must be there to analyse, understand and report back. To do that, improvements are needed, including new vessels and longer-term funding. This report is the first step.

The government is yet to formally respond to the report’s recommendations. Let’s hope it takes heed of the findings.

Jane Younger receives funding from the Australian Research Council, WIRES Australia, the Geoffrey Evans Trust and the National Geographic Society.

– ref. This is Australia’s only icebreaker. Here’s why experts say we need another – https://theconversation.com/this-is-australias-only-icebreaker-heres-why-experts-say-we-need-another-249714

MIL OSI Analysis – EveningReport.nz –

February 13, 2025
MIL-Evening Report: Short-term politics keeps stalling long-term fixes. This bill offers a way forward

Source: The Conversation (Au and NZ) – By Susan Harris Rimmer, Professor, Griffith Law School, Griffith University

Two federal politicians from opposing camps reached across the aisle this week to promote a valuable cause – the wellbeing of future Australian generations.

Independent MP Sophie Scamps tabled the Wellbeing of Future Generations Bill 2025, which was seconded by Liberal backbencher Bridget Archer.

In an election year no less, this was a highly unusual moment of bipartisan collaboration.

It is extremely rare for private members bills to be passed into law. But the ideas in the Scamps bill have merit – especially its central recommendation that all decision makers properly consider the needs of young people when drafting government policy.

The bill was a direct response to a diverse civil society campaign in Australia and overseas to prioritise long term solutions to deliver a fairer, more sustainable future.

We support those efforts through our involvement in the youth-driven non-profit Foundations for Tomorrow, which worked closely with Scamps on her bill.

What is in the bill?

The bill would introduce a range of measures to try and apply a future focus to decision making across the policy spectrum. This includes housing, environment, climate change, mental health and job security, all of which are pressing issues for young people.

An independent Commissioner for Future Generations would be appointed to advocate for better policies and sustainable practices, while the government would have a public duty to always consider the best interests of future generations.

Importantly, a national conversation would be launched to engage Australians in a public consultation to help shape the nation’s vision for the future.

What is future governance?

Globally, we are in a state of polycrisis.

We are confronting cascading climate disasters, intense regional conflicts and geo-strategic competition. In response to this, a growing international movement representing the interests of future generations has emerged.

The concept incorporates an approach to decision making that overcomes the trappings of short-term, inadequate solutions. Instead, the emphasis is on planning for the future, not just the here and now.

Here in Australia, it aspires to future-proof the country by managing extreme, long-term risks that are damaging current and future prosperity.

Growing inequality is showing up in many policy areas, none more so than in the housing wealth gap between people in their 30s and 50s, which has widened to an extraordinary 234%.

By improving governance, it is hoped that intergenerational justice will be achieved. This ethical lens is compatible with the Australian Public Service value of good stewardship.

A global movement

Many countries, including Scotland, Finland, the United Arab Emirates and Singapore, are exploring ways to reorient their policy making towards a better understanding of long-term impacts of decisions taken now. It has also been taken up by the United Nations and the European Union.

The Australian bill is based on the experience in Wales, where similar legislation was introduced in 2015.

The Welsh model has delivered significant practical benefits by including community involvement in planning, and protecting essential services from election cycles. For instance, environmental protection has been given higher status in decision making about transport.

The Australian landscape

Australia has undertaken other efforts to think long term. The Intergenerational Report was launched by former treasurer Peter Costello in 2002 to build consensus around the big issues facing Australia over the next 40 years.

The most recent report, in 2023, identified five major areas needing future generations policy. These were population and ageing, technological and digital transformation, climate change and the net zero transformation, rising demand for care and support services, and geopolitical risk and fragmentation.

The ideas in the Wellbeing of Future Generations bill could help guide policy in these critical areas. It would be an improvement on our current approach of recognising issues, but constantly kicking the can down the road.

There have been other excellent future generations measures at all levels of government. One of these is the Albanese government’s commitment to the Measuring What Matters framework.

And there is merit in independent Senator David Pocock’s Duty of Care Bill and the establishment of the Parliamentary Group for Future Generations at the Commonwealth level.

An increasing number of leaders and policy makers are recognising the power and potential of expanding our definitions of policy success.

Young voters and the 2025 election

However, much more needs to be done to overcome intergenerational inequities. Policy-making continues to be driven by short-term political objectives, which is eroding trust and optimism in Australia’s future.

In a 2021 survey for Foundations for Tomorrow, 71% of young Australians said said that they “do not feel secure”. Young people are also drifting away from supporting the major parties, especially the Coalition.

Tabling her bill, Scamps correctly pointed out that today’s young Australians are the first generation in modern history to be worse off than their parents.

Australians want politicians to start thinking beyond their own re-election prospects. They want long term solutions, they want vision, they want hope. We owe them that much.

A recent survey by EveryGen (a network convened by Griffith University’s Policy Innovation Hub) found that 81% of Australians feel that politicians focus too much on short-term priorities. An overwhelming 97% of people believe that current policies must consider the interests of future generations.

Genuine futures thinking is not always easy. But it does add an important ethical dimension to decision making, that of real attention to political legacy.

Susan Harris Rimmer receives funding from the Australian Research Council. She is affiliated with Foundations for Tomorrow as a board member who are running the For the Future campaign, and is founder of the EveryGen network. EveryGen is a member of the Intergenerational Fairness Coalition.

Elise Stephenson receives funding from the Australian Research Council. She is a founding member of the EveryGen network and supporter of Foundations for Tomorrow. EveryGen is a member of the Intergenerational Fairness Coalition.

– ref. Short-term politics keeps stalling long-term fixes. This bill offers a way forward – https://theconversation.com/short-term-politics-keeps-stalling-long-term-fixes-this-bill-offers-a-way-forward-249598

MIL OSI Analysis – EveningReport.nz –

February 13, 2025
MIL-Evening Report: Antarctic research has long been hamstrung by reliance on one icebreaker and sporadic funding. That might be about to change

Source: The Conversation (Au and NZ) – By Jane Younger, Lecturer in Southern Ocean Vertebrate Ecology, Institute for Marine and Antarctic Studies, University of Tasmania

Australia’s Antarctic territory represents the largest sliver of the ice continent. For decades, Australian scientists have headed to one of our three bases – Mawson, Davis and Casey – as well as the base on sub-Antarctic Macquarie Island, to research everything from ecology to climate science.

But despite our role as leaders in Antarctic science, Australian funding and logistics for Antarctic research hasn’t kept pace. Our single icebreaking vessel spends most of its time on resupply missions, restricting its use for actual science. And funding is often piecemeal, which makes it hard to plan the complex, multi-year efforts it takes to do research down on the ice.

This week, we saw a welcome change. The federal parliamentary committee on Australia’s external territories delivered a report calling for a second icebreaking vessel and more reliable funding. It also urged the government to progress work on marine protected areas in east Antarctica as well as resume fishing patrols, due to concern over illegal or exploitative fishing.

These measures are long overdue. For those of us who work and study on the ice continent, logistics and funding have long been a challenge. Illegal fishing in Antarctica must be stamped out, and a second vessel would support our ambitious, world-leading science.

Why is Antarctic science so important?

Antarctica is often out of sight, out of mind for many Australians. But what happens on the ice doesn’t stay there.

For climate science, Antarctica matters a great deal. For decades, much of the concern about melting ice focused on the Arctic and Greenland, while Antarctica stayed relatively stable. But this is now changing. Sea ice is melting more quickly than in the past. Glacial ice is retreating. Increased melting will affect sea level rise and ocean currents.

I study diseases such as the lethal strain of bird flu which has devastated bird and some mammals populations around the world. It recently reached Antarctica, where it killed large numbers of penguins, skuas, crabeater seals and more. I saw the devastation myself on my recent journey there.

If this strain makes it to Australia – the last continent free of it – it could come from the south and devastate both Australian wildlife and poultry.

To study these large and important changes, we need to be down there on the ice. It’s not an easy task. Keeping our bases functional means we need regular resupply missions. Repairs and extensions require tradies. Scientists and other workers need to be brought home.

Antarctic science has long relied on just one vessel, now the RSV Nuniya, which the Australian Antarctic Division describes as the “main lifeline to Australia’s Antarctic and sub-Antarctic research stations and the central platform of our Antarctic and Southern Ocean scientific research”.

The problem is, resupply can trump science. After all, no one wants bases running short of food or fuel. This is, in fact, what the Nuniya is largely doing.

Australia’s role is key

The Australian Antarctic Territory represents about 40% of the ice continent – the largest territory by far.

Territory, here, doesn’t mean exclusive rights. In 1959, 12 nations with a scientific interest in the ice continent signed the Antarctic Treaty. This treaty was an agreement that Antarctica – the only landmass with no indigenous human presence – would be reserved for peaceful, scientific purposes.

But in recent years, this treaty has come under pressure. Nations such as Norway and China have expanded fishing operations for krill. Illegal and unregulated fishing from various nations continues.

The report recommends the Australian government continue efforts to establish a marine protected area off East Antarctica – where fishing would be restricted – as well as reopening fishing patrols. China – which recently opened its fifth Antarctic base – is opposed to the idea of fishing-free zones and is pushing to expand fishing in the Southern Ocean.

Under Antarctica’s ice lie many resources. Mining is banned in Antarctica until 2048. What happens after that is uncertain. The race to tap critical minerals in Greenland signals what may lie ahead for Antarctica.

This is why Australia’s leadership in Antarctic science matters. Australia was an original signatory to the Antarctic Treaty, and has a long history of exploration and science. Hobart has long been the home of Australia’s Antarctic vessels.

As Antarctica changes, Australian scientists must be there to analyse, understand and report back. To do that, improvements are needed, including new vessels and longer-term funding. This report is the first step.

The government is yet to formally respond to the report’s recommendations. Let’s hope it takes heed of the findings.

Jane Younger receives funding from the Australian Research Council, WIRES Australia, the Geoffrey Evans Trust and the National Geographic Society.

– ref. Antarctic research has long been hamstrung by reliance on one icebreaker and sporadic funding. That might be about to change – https://theconversation.com/antarctic-research-has-long-been-hamstrung-by-reliance-on-one-icebreaker-and-sporadic-funding-that-might-be-about-to-change-249714

MIL OSI Analysis – EveningReport.nz –

February 13, 2025
MIL-OSI United Kingdom: expert reaction to study looking at hormonal contraceptives and stroke and heart attack risk

Source: United Kingdom – Executive Government & Departments

February 12, 2025

A study published in the BMJ looks at hormonal contraceptives and the risk of heart attacks and strokes.

Dr Sonya Babu-Narayan, Clinical Director at the British Heart Foundation and consultant cardiologist, said:

“You shouldn’t be overly alarmed by these findings if you are using or considering starting hormonal contraception. The additional risk of heart attack and stroke is very low for the vast majority – it’s equivalent to one extra heart attack for every 10,000 women using hormonal contraception for a year. And pregnancy itself also increases your risk of developing blood clots, stroke and heart attack.

“When considering hormonal contraception options, you will be able to discuss the risks and benefits with your GP so that you can make an informed decision about what is best for you. This could include discussion and management of your existing cardiovascular risk factors like high blood pressure, diabetes, smoking, or if you are living with obesity.

“The study lends weight to previous evidence of an association between hormonal contraception use and a small increase in the number of heart attacks and strokes. The researchers made use of a wealth of long-term electronic healthcare information from over 2 million people in Denmark – this scale and breadth makes the findings more reliable and complete than previous studies and enables study of even rare complications like these.

“However, the study is observational so it can’t prove cause and effect, and there may be other factors at play driving the links seen that aren’t sufficiently accounted for.

“This latest study supports the current practice of recommending the option of a progestin intrauterine device – the hormonal coil – for those already living with high cardiovascular risk, as this wasn’t linked to more heart attacks and strokes.”

Dr Becky Mawson, NIHR Clinical Lecturer in Primary Care, and GP with special interest in sexual and reproductive health, University of Sheffield, said:

“Please do not stop using contraception based on this study! The risk of stroke and heart attack in pregnancy and postnatal period is significantly higher than the risks reported in this study for contraceptives. For those using contraceptives for treatment of health conditions, the slightly increased risk needs to be balanced with the benefit in quality of life for those suffering debilitating gynaecological and hormonal conditions.

“Saying that, if you have other risk factors for strokes and heart disease, then it is worth discussing with your healthcare team to look at the safest options like the hormonal coil. This observational study looks at relationships in data, not causes. It adds to previous studies within the same database looking at increased blood clot risk.

“While it remains true as it has done for years that we need to find better, risk-free alternatives to prevent pregnancy, in my view this study hasn’t changed that and should not cause alarm but does add to growing knowledge in this area.”

Dr Clare Arnott, Conjoint Associate Professor, Cardiologist and Head of Cardiovascular Program, The George Institute for Global Health, and UNSW Sydney, said:

“This is an interesting, timely and important study. It is wonderful to see sex-specific cardiovascular risk factors given appropriate attention in medical research.

“The study identified twice the risk of stroke and heart attack in those exposed to the combined oral contraceptive pill (and around 1.5x the risk for progestin only formulations). Interestingly, while risk was also increased for the combined vaginal ring and patch (with relative risks higher with these preparations), no increased risk was observed for the progestin-only IUD. Also of note, and clinical relevance, duration of use did not appear to impact risk.

“While these relative risks are important, particularly at a public health/population level, it should be noted that absolute risk remains low in this patient population of young women. It is also important to note that this study excluded women with a history of arterial thrombosis – a high risk group, and thus these results cannot be extrapolated to that population.

“The study is strengthened by a large cohort size, which is nationally representative, long patient follow up period, and is adequately powered with respect to the number of events recorded. Of course, as the authors rightly acknowledge, this is observational research, and correlation is not the same as causation.

“Nonetheless, it is valuable information that should be routinely communicated to women to allow them, in conjunction with their healthcare provider, to make informed decisions about their health. These data are also very important at a public health/ population level given the >200 million women worldwide using hormonal contraception, and thus public health clinicians and policy makers should take note.”

Prof Angela Clerk, Professor of Biomedical Science, University of Reading, said:

“The study appears to be comprehensive and rigorous, representing the whole of the Danish population. There should be some caution in extrapolating to other populations with different ethnicities, since genetic background and cultural variation could affect cardiovascular risk, and some ethnicities not fully covered by the Danish population could have greater vulnerability.

“This is clearly an important study but, while the focus is on the potential negative effects of contraception on cardiovascular risk, it is also clear that any increase in risk is actually very small. This emphasises the overall safety of the drugs, particularly when balanced against the negative effects of unwanted pregnancies resulting from a lack of contraception. Yes, there should be informed choice of the type of contraception, but perhaps lifestyle choices need to take greater precedence. Though I am past that stage, this study would not stop me from using any of these forms of contraception over not using one and facing an unplanned pregnancy.”

Dr Channa Jayasena, Consultant in Reproductive Endocrinology, Imperial College London, said:

“Contraceptive medication is a vital healthcare option, which offers lower chances of accidental pregnancy compared with barrier contraceptive methods. Contraceptives work by using high doses of female hormones like oestrogen and / or progesterone to temporarily ‘switch off’ the ovaries and womb. Oestrogen is a ‘sticky’ hormone because it makes blood more likely to clot. It is well-known that The Pill increases blood clot risk. Increased blood clot risk increases risks of related problems like stroke and heart attack. The current study helps to define the risks of different types of contraceptive medication.

“The study is well designed because looks at health records from 2 million women of reproductive age living in Denmark. The authors were careful to adjust for factors which might have affected the results. The findings confirm that The Pill is associated with increased risks of stroke and heart attack. Observational studies like this one cannot conclude that the Pill has caused stroke and heart attack; but our prior knowledge of how the pill works makes this likely.

“My biggest criticism is the way that the results are presented. Only 3 per 1000 women were affected by a stroke or heart attack; the risk among those on the pill was about 6-10 per 1000. The absolute risk of having a stroke or heart attack on The Pill is still very low.

“Women should take away the importance of smoking cessation, healthy eating, and exercise to minimise the (small) increased risk of stroke or heart attack associated with being on the pill. Women who have high risks of stroke or heart attack that cannot be reduced should strongly consider a hormonal coil, because of its lack of associated increased stroke or heart attack risk.”

‘Stroke and myocardial infarction with contemporary hormonal contraception: real-world, nationwide, prospective cohort study’ by Harman Yonis et al. was published in the BMJ at 23:30 UK time on Wednesday 12 February 2025.

DOI: 10.1136/bmj-2024-082801

Declared interests

Dr Sonya Babu-Narayan: “No conflicts of interests to declare.”

Dr Becky Mawson: “Current project with South Yorkshire Digital Health Hub – The Hormone Effect – developing an app to collect data on side effects of contraception.

Research lead (unpaid and no financial benefits) – The Lowdown Women’s Health Platform.”

Dr Clare Arnott: “None to declare.”

Prof Angela Clerk: “I no conflict of interest under any of the categories below with respect to industry funding. I have no conflict of interest with any of my own research under these categories either. I am a woman, however.”

Dr Channa Jayasena: “No conflicts to declare.”

MIL OSI United Kingdom –

February 13, 2025
MIL-OSI: Nokia Corporation: Repurchase of own shares on 12.02.2025
Source: GlobeNewswire (MIL-OSI)

Nokia Corporation
Stock Exchange Release
12 February 2025 at 22:30 EET

Nokia Corporation: Repurchase of own shares on 12.02.2025

Espoo, Finland – On 12 February 2025 Nokia Corporation (LEI: 549300A0JPRWG1KI7U06) has acquired its own shares (ISIN FI0009000681) as follows:

Trading venue (MIC Code) Number of shares Weighted average price / share, EUR*

XHEL 1,334,463 4.74

CEUX – –

BATE – –

AQEU – –

TQEX – –

Total 1,334,463 4.74

* Rounded to two decimals

On 22 November 2024, Nokia announced that its Board of Directors is initiating a share buyback program to offset the dilutive effect of new Nokia shares issued to the shareholders of Infinera Corporation and certain Infinera Corporation share-based incentives. The repurchases in compliance with the Market Abuse Regulation (EU) 596/2014 (MAR), the Commission Delegated Regulation (EU) 2016/1052 and under the authorization granted by Nokia’s Annual General Meeting on 3 April 2024 started on 25 November 2024 and end by 31 December 2025 and target to repurchase 150 million shares for a maximum aggregate purchase price of EUR 900 million.

Total cost of transactions executed on 12 February 2025 was EUR 6,328,290. After the disclosed transactions, Nokia Corporation holds 246,429,217 treasury shares.

Details of transactions are included as an appendix to this announcement.

On behalf of Nokia Corporation

BofA Securities Europe SA

About Nokia
At Nokia, we create technology that helps the world act together.

As a B2B technology innovation leader, we are pioneering networks that sense, think and act by leveraging our work across mobile, fixed and cloud networks. In addition, we create value with intellectual property and long-term research, led by the award-winning Nokia Bell Labs which is celebrating 100 years of innovation.

With truly open architectures that seamlessly integrate into any ecosystem, our high-performance networks create new opportunities for monetization and scale. Service providers, enterprises and partners worldwide trust Nokia to deliver secure, reliable and sustainable networks today – and work with us to create the digital services and applications of the future.

Inquiries:

Nokia Communications
Phone: +358 10 448 4900
Email: press.services@nokia.com
Maria Vaismaa, Global Head of External Communications

Nokia Investor Relations
Phone: +358 931 580 507
Email: investor.relations@nokia.com

Attachment
- Daily Report 2025-02-12
The MIL Network –
February 13, 2025
MIL-OSI Asia-Pac: WAVES offers a golden opportunity for Reel Makers and Professional Ad Filmmakers to shine as celebrites
Source: Government of India

WAVES offers a golden opportunity for Reel Makers and Professional Ad Filmmakers to shine as celebrites

Hurry up! Only two days left, don’t miss this chance to have your work recognized on a global stage, Submit your entry by February 15th

WAVES Awards of Excellence as part of the Create in India Challenge, attracts global submissions, uniting creators from over dozen countries & more than 52 Indian institutes like NIDs, IITs & SRFTI

Posted On: 12 FEB 2025 6:46PM by PIB Delhi

Do you have a vision that speaks through the lens and a story that unfolds in every frame? If creativity runs through your veins the WAVES Awards of Excellence presents a golden opportunity

The much-anticipated Student Showreels & Professional Ad Film Competition is officially open for submissions! Submit your entry by February 15th.

Ministry of Information & Broadcasting in collaboration with ASIFA India, a UNESCO-recognized global NGO promoting animation, is hosting WAVES Awards of Excellence as part of the Create in India Challenge. These awards celebrate exceptional achievements in Animation, Visual Effects, and Extended Reality (XR), reinforcing India’s creative leadership on the global stage.

About the awards

There are two competition categories: Student Showreels (No time restriction) and Professional Ad Films (limit 60 seconds). The submissions reflect themes of India’s socio-cultural landscape, and modern technology like:
- Wellness & Yoga
- Gaming for Social Impact
ASIFA India has witnessed an exceptional response with enthusiastic participation

ASIFA India has received an overwhelming response with 1238 submissions of finished works from various demographics: Students (75%), Professionals (25%), Women (35%) and Emerging Creators (50%). The participation of women and young creators underscores the challenge’s role in promoting diversity, inclusivity, and fresh perspectives in India’s AVGC sector.

Submissions have been promoted across various continents, resulting in over 60 global entries from 13 countries, such as Spain, the United Kingdom, the United States, Greece, Cyprus, Iran, Finland, the Philippines, Germany, Sri Lanka, Puerto Rico, China, and Mexico. Global Animated Film association Asifa (Association Internationale du Film d’Animation) is promoting the competition globally via its 40 Chapters in various counties.

ASIFA also received submissions from more than 52 institutions in India and abroad. Leading global educational institutions like BAU Centro Universitario de Artes y Diseño de Barcelona, Bass School of Arts, Humanities, and Technology at UTD, Tehran University of Art, Filmakademie Baden-Württemberg, Academy Of Art University, Academy of Design, Colombo, Kennesaw State University student have submitted their top entries to this prestigious festival.
Students from Prestigious Indian Institutions including all NID, IITs (IDC School of Design and DOD at various IIT’s), SRFTI, Symbiosis, Sir JJ Institute of Applied Art, Banasthali Vidyapith, Ajeenkya D Y Patil University, BIT Mesra, UID, Srishti Manipal have also submitted their best work.

Glimpses of Submissions of Waves Awards of Excellence

WAVES Winners Gain Global Opportunities

Winners will receive in-person support for portfolio review by experts, opportunity to interact with global jury from US, Greece & India. They will also receive networking opportunities by direct engagement with key stakeholders, including international studios, producers, and government officials for potential career opportunities. Animation studios and independent developers will receive guidance on funding, IP development, and business scalability.

ASIFA India organized series Meet ups across 15 Indian sub-chapters to inspire creators from various cities for their participation in the upcoming WAVES Awards of Excellence. In the session ‘Deep Dive into Excellence from Mentors’ eminent global Jury like Briana Yarhouse from USA & Dr. Anastasia Dimitra from Athens, Greece gave tips to participants.

Global Jury Members Briana Yarhouse, Dr.Anastasia Dimitra sharing their expertise during a Virtual Meet recently, joined by Deanna Morse(Member of Oscars), Celebrity Artist Dhimant Vyas, BN Vichar& Others..Session Moderated by Sanjay Khimesara, President, Asifa India & Vinita Bachani, Core Committee Member

For more information and to submit your work, visit the submission portal here:

https://www.asifaindia.com/waoe/

About ASIFA INDIA

ASIFA India is a non-profit organization established in 2000 with the goal of promoting the art, craft, and profession of VFX, Animation & Gaming in India. ASIFA India has been working tirelessly to create a platform for creators including- Animators, Vfx & Gaming artists, students, and professionals to network, learn, and showcase their work.

******

Dharmendra Tewari/Kshitij Singha/Shatrunjay kumar

(Release ID: 2102429) Visitor Counter : 28

MIL OSI Asia Pacific News –
February 13, 2025
MIL-OSI Europe: Written question – Paragon spyware scandal and the surveillance of European journalists and civil society organisations – P-000589/2025
Source: European Parliament
Priority question for written answer P-000589/2025
to the Commission
Rule 144
Sandro Gozi (Renew)

Last week, Euractiv published an article entitled ‘EXCLUSIVE: Spyware firm behind new surveillance of journalists, civil society operates from the EU’[1] on the Paragon scandal involving the systematic surveillance of over a hundred European citizens’ mobile phones and WhatsApp accounts. The article reveals that individuals in various EU Member States, such as Austria, Belgium, Cyprus, Czechia, Denmark, Germany, Greece, Italy, Latvia, Lithuania, the Netherlands, Portugal, Spain and Sweden, including journalists and civil society organisations critical of national governments, are being spied on by unidentified actors.

1.Is the Commission aware of this breach of fundamental rights and digital privacy of European citizens and has it started to conduct an analysis of who was targeted, why and by whom?

2.What measures will the Commission take in order to respond to and address this breach of European citizens’ rights?

3.Will the Commission follow up on the recommendations of the former European Parliament PEGA Committee[2], take immediate action to ensure full transparency and accountability, and address these spyware threats?

Submitted: 10.2.2025

[1] https://www.euractiv.com/section/tech/news/exclusive-spyware-firm-behind-new-surveillance-of-journalists-civil-society-operates-from-the-eu/.

[2] https://www.europarl.europa.eu/doceo/document/A-9-2023-0189_EN.html.
Last updated: 12 February 2025
MIL OSI Europe News –
February 13, 2025
MIL-Evening Report: Removing babies is still harming First Nations families, almost two decades after the apology to Stolen Generations
Source: The Conversation (Au and NZ) – By Sam Burrow, PhD candidate, School of Population and Global Health, The University of Western Australia

Belinda Howell/Getty Images

Today marks 17 years since the apology to Australia’s Indigenous peoples for the forced removal of Aboriginal and Torres Strait Islander children from their families between the mid-1800s and 1970s.

Yet, communities and researchers are concerned that child protection systems are creating “another stolen generation” and a “crisis in infant removals”.

Statistics tell us Indigenous children are 11 times more likely to be removed by child protection systems than non-Indigenous children. Indigenous babies aged under one are at greatest risk.

But beyond the data, what do parents tell us about this experience?

Our recent study reviewed all the studies available about child protection processes in the perinatal period (during pregnancy and the year following birth) in Australia and across the world.

We looked at parents’ experiences across the board, with a special interest in whether First Nations families had been included in existing research.

What we already knew

Whistleblowers, including a former Aboriginal family support officer, have reported distressing child protection processes, including the removal of babies immediately following delivery.

Families that interact with child protection systems often already face multiple and complex forms of adversity. This can include poverty, homelessness, racism, intergenerational trauma, family violence, disability, mental illness, substance use and incarceration.

The perinatal period offers a unique window for early intervention and family support to reduce the risk of removal.

This could involve greater help accessing suitable housing and addressing family violence, and enhancing access to health care that is culturally safe and trauma-informed, before and after birth.

What we found

Our systematic review examined 24 studies about child protection services becoming involved with families during pregnancy and the first year after birth. This included research from Australia, the United Kingdom, Canada, the United States, New Zealand and Sweden.

We looked at what parents told researchers about their experiences and found striking similarities, regardless of where they lived.

Globally, there were comparatively few studies including First Nations families. But both Indigenous and non-Indigenous parents reported punitive processes that had an enduring impact on the health and wellbeing of the parent and family.

They also agreed that early, transparent, compassionate and culturally appropriate support was required to address their needs. These included legal support to understand court processes, as well as being able to access health care without fear it could lead to removal.

Four themes emerged from these lived experiences. Here, we’ve included the voices of Aboriginal mothers who participated in a 2023 Australian study to illustrate the importance of these issues to Indigenous families.

1. A lack of support before and after removal

Parents often found the birth of their babies life-changing. However many believed child protection services didn’t adequately understand their experience or inform and support them at this time.

Mothers felt confused and overwhelmed, experiencing symptoms of post-traumatic stress disorder and enduring grief following the removal of their babies.

Bridget*, an Aboriginal mother, told researchers:

There is no support… I think they should help towards improving family and helping family before taking a child away. It should be the absolute last option.

Mothers were left confused and grieving after removals.
Solstock/Getty Images

2. Devastating impact on relationships and wellbeing

Mothers often felt isolated and described negative interactions not only with child protection workers but also partners and families.

Fear of removal also prevented mothers from seeking antenatal care or professional support services, further compromising health and wellbeing.

Stacey said:

You have to do what they want; they control everything… who you hang out with, what you do […] There is no fixing the family… What they say goes or they take your kids.

3. Feeling powerless in the system

Many mothers had been in care themselves. They felt unfairly punished, because it was assumed they would not be capable parents due to past and present trauma.

First-time parents felt especially powerless to prove their parenting capacity.

Stacey said removing a baby from a first-time mum causes

a lot of stress and impact on everyone involved… It’s causing a lot of pain… give us the chance to be with our child to build that bond first.

Parents described surveillance framed as support, a lack of professional transparency, and often unexpected and acutely painful removals.

4. Harmful judgements and stereotypes

Insufficient support for poverty and homelessness before removal made it impossible to meet child protection requirements.

A mother who was homeless at the time her baby was removed said:

We had got secure accommodation with family. […] We weren’t doing any drugs; we were on the methadone… we had a caseworker…

They led us to believe we’re keeping her… [then] they handed me a piece of paper and said, “We’re taking your baby”. I was in shock… I felt like I was ambushed.

Parents with complex health issues also felt judged according to negative stereotypes and traditional, white, middle-class standards.

Some parents lost welfare entitlements and housing because babies had been removed, compounding their difficulties.

Some mothers felt ambushed by the process.
New Africa/Shutterstock

Where to from here?

In Australia, current Indigenous-led research and the work of Aboriginal state, territory, and national children’s commissioners is critical to guiding the development of support for families to stay together and thrive.

Parents and researchers are united about the immediate need for child protection systems to:
- provide early and sustained family-centred support during pregnancy and beyond
- address families’ practical and material needs, including poverty and homelessness
- train professionals to reduce power imbalances and build trusted relationships
- offer trauma-informed and culturally matched support services
- provide immediate and ongoing mental health support if babies are removed.
Renna (a co-author on this article and also a proud Walbunja woman from the Yuin Nation, academic and social worker) reflects on the removal of her baby not long before the apology.

Eighteen years later, I know we will never feel whole, left with empty arms, a life stolen, the shadow festers and grows.

Special thanks to our review co-authors Melissa O’Donnell, Lisa Wood, Colleen Fisher and Renée Usher, our expert advisory group, the Stan Perron Charitable Foundation and the original participants and researchers whose primary studies made our review and this article possible.

*Names have been changed for privacy.

If this article has raised issues for you, or if you’re concerned about someone you know, call Lifeline on 13 11 14. 13YARN is a free and confidential 24/7 national crisis support line for Aboriginal and Torres Strait Islander people who are feeling overwhelmed or having difficulty coping. Call 13 92 76.

Sam Burrow receives a PhD scholarship from the Stan Perron Charitable Foundation.

Renna Gayde is affiliated with SAFeST start coalition, a stream of the Replanting the Birthing Trees Project.

– ref. Removing babies is still harming First Nations families, almost two decades after the apology to Stolen Generations – https://theconversation.com/removing-babies-is-still-harming-first-nations-families-almost-two-decades-after-the-apology-to-stolen-generations-249353
MIL OSI Analysis – EveningReport.nz –
February 13, 2025
MIL-OSI Global: German party leaders are united against immigration – but there is little evidence for a key part of their argument

Source: The Conversation – UK – By Dominic Afscharian, Research Officer of Comparative Public Policy, University of Tübingen

As Germany elects its next Bundestag, migration remains one of the most important issues to voters. But politicians are not debating how to attract the 288,000 migrants the country needs every year to maintain its workforce. Rather, parties struggle over who can promise the most deportations and the tightest border controls.

Anti-immigrant sentiment has profoundly reshaped Germany’s political landscape. It is connected to the surge of the far-right Alternative for Germany (AfD), as well as the rightward shift of the Christian Democrats and Liberals, and the social democrat SPD under current chancellor Olaf Scholz.

Even the Greens and the Left party were internally conflicted on the matter, ultimately leading the anti-immigration BSW to split off from the Left.

One of the most prominent areas of anti-migrant sentiment is social policy. Migrants are depicted as the culprit behind problems with minimum income protection, child benefits, the education system and even dentist appointments.

At the centre of the debate is the notion of “welfare magnetism”. This is the idea that migrants are drawn to Germany by its generous welfare system. Actors like the AfD and Christian Democratic chancellorship-hopeful Friedrich Merz refer to it more pointedly as “Sozialtourismus” – welfare tourism.

Welfare magnetism: what does the evidence say?

For decades, politicians in Germany have suspected welfare as a “pull factor” for migrants, especially those living in poverty. Parties have proposed and implemented the same solution again and again: welfare exclusions. In 2006 and 2016, EU migrant citizens were excluded from two major social assistance schemes for their first five years in Germany.

Aside from normalising anti-immigrant sentiment, this achieved very little. In a major research project on the interplay between migration and social policy that ran from 2019 to 2024, we could find no evidence that introducing these exclusions led to declining migrant numbers.

Generally, most research finds that welfare magnetism is an overstated idea. Analyses of various countries, including Germany, find no evidence of welfare take-up being a significant driver of (large-scale) migration.

Even researchers promoting the idea struggle to produce convincing evidence. Their findings are often limited to hyper-specific scenarios, such as migration between border towns of two US states.

While immigration economist George Borjas claims that “differences in welfare benefits generate strong magnetic effects” he himself calls the empirical evidence “relatively weak”, and notes that “there may well be alternative stories that explain the evidence”.

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In one study, researchers claimed to find “some of the first causal evidence on the welfare magnet hypothesis” in Denmark. Yet they analysed a case in which many of the immigrants in question were also excluded from the labour market and where their belongings were (partially) confiscated upon entering the country.

Under these circumstances, the researchers found that radically cutting welfare benefits by up to 50% could lead asylum seekers – who were migrating either way – to choose a different country of destination. As the researchers point out, “most newly arrived refugees have very limited job opportunities and therefore no alternative to welfare benefits”.

A major driving force of international migration is conflict. If refugees fleeing war are given no alternative option of sustaining a living than receiving benefits – and if these benefits are then cut – the refugees in question may seek asylum elsewhere. This, however, has little to do with a “pull effect” and is a far cry from anything that could be considered welfare tourism.

When confronted with the research, centrist politicians argue that regardless of how big a threat welfare magnetism actually is, people are afraid of it. To beat the far right, politicians feel obliged to copy their arguments.

But research shows this approach does not work. By copying the far right, mainstream parties normalise instead of weakening the fringes. Far-right parties will always be able to make more extreme demands than the mainstream – there is no point in trying to beat them on their own turf.

Policies that link migration and welfare can also make situations in already struggling areas worse. In our forthcoming research, we identified such problems in Germany.

In Nordstadt, a deprived neighbourhood in Dortmund, many migrants face poor living conditions as economic disadvantages overlap with welfare exclusions. Many cannot afford proper housing and healthcare, and have to accept exploitative working conditions.

Social assistance could provide help, yet excluding migrants from federally funded welfare schemes means that municipalities are largely left to deal with these challenges.

Working with the far right

Despite the lack of evidence for welfare tourism, the current political trajectory suggests that anti-immigrant sentiment will thrive further in Germany. Recent acts of violence by asylum seekers, including a fatal stabbing in Aschaffenburg, led the far-right AfD – accompanied by mainstream parties – to immediately push for restrictive immigration policy reforms.

In a watershed moment for German politics, the Christian Democrats subsequently broke with a postwar taboo, voting with the AfD in favour of border closures and similar measures. Merz was harshly criticised for cooperating with the AfD, and his immigration bill ultimately failed.

But, notably, hardly any party openly opposed his anti-immigration positions as such. The dispute was primarily about his cooperation with the AfD and less about disagreement over policy substance.

This was evident in the first televised debate between Scholz and Merz, where competition over who was tougher on migrants took up a significant portion of the run time.

Rarely have German elections seen a list of lead candidates so unequivocally united in characterising migrants as a threat. However, political tides may shift. Some of these candidates will unavoidably lose – and, perhaps, parties will shift gear once in opposition or government responsibility.

Dominic Afscharian has previously received funding from the German Federal Ministry of Labour and Social Affairs under the FIS research grant. This article has followed from the associated project “Freedom of Movement and Social Policy in Historical and International Comparison (FuS)”. He currently works for the Zentrum für neue Sozialpolitik in Berlin, Germany, which was not involved in the genesis of this article.

Martin Seeleib-Kaiser has previously received funding from the German Federal Ministry of Labour and Social Affairs under the FIS research grant. This article has followed from the associated project “Freedom of Movement and Social Policy in Historical and International Comparison (FuS)”.

– ref. German party leaders are united against immigration – but there is little evidence for a key part of their argument – https://theconversation.com/german-party-leaders-are-united-against-immigration-but-there-is-little-evidence-for-a-key-part-of-their-argument-249074

MIL OSI – Global Reports –

February 13, 2025
MIL-OSI USA: Opening Remarks by Secretary of Defense Pete Hegseth at Ukraine Defense Contact Group (As Delivered)

Source: United States Department of Defense

Good afternoon, friends.

Thank you, Secretary Healy for your leadership, both in hosting and now leading the UDCG.

This is my first Ukraine Defense Contact Group. And I’m honored to join all of you today.

And I appreciate the opportunity to share President Trump’s approach to the war in Ukraine.

We are at, as you said Mr. Secretary, a critical moment. As the war approaches its third anniversary, our message is clear: The bloodshed must stop. And this war must end.

President Trump has been clear with the American people – and with many of your leaders – that stopping the fighting and reaching an enduring peace is a top priority.

He intends to end this war by diplomacy and bringing both Russia and Ukraine to the table. And the U.S. Department of Defense will help achieve this goal.

We will only end this devastating war – and establish a durable peace – by coupling allied strength with a realistic assessment of the battlefield.

We want, like you, a sovereign and prosperous Ukraine. But we must start by recognizing that returning to Ukraine’s pre-2014 borders is an unrealistic objective.

Chasing this illusionary goal will only prolong the war and cause more suffering.

A durable peace for Ukraine must include robust security guarantees to ensure that the war will not begin again.

This must not be Minsk 3.0.

That said, the United States does not believe that NATO membership for Ukraine is a realistic outcome of a negotiated settlement.

Instead any security guarantee must be backed by capable European and non-European troops.

If these troops are deployed as peacekeepers to Ukraine at any point, they should be deployed as part of a non-NATO mission. And they should not covered under Article 5. There also must be robust international oversight of the line of contact.

To be clear, as part of any security guarantee, there will not be U.S. troops deployed to Ukraine.

To further enable effective diplomacy and drive down energy prices that fund the Russian war machine, President Trump is unleashing American energy production and encouraging other nations to do the same. Lower energy prices coupled with more effective enforcement of energy sanctions will help bring Russia to the table.

Safeguarding European security must be an imperative for European members of NATO. As part of this Europe must provide the overwhelming share of future lethal and nonlethal aid to Ukraine.

Members of this Contact Group must meet the moment.

This means: Donating more ammunition and equipment. Leveraging comparative advantages. Expanding your defense industrial base. And importantly, leveling with your citizens about the threat facing Europe.

Part of this is speaking frankly with your people about how this threat can only be met by spending more on defense.

2% is not enough; President Trump has called for 5%, and I agree.

Increasing your commitment to your own security is a down payment for the future. A down payment as you said Mr. Secretary of peace through strength.

We’re also here today to directly and unambiguously express that stark strategic realities prevent the United States of America from being primarily focused on the security of Europe.

The United States faces consequential threats to our homeland. We must – and we are – focusing on security of our own borders.

We also face a peer competitor in the Communist Chinese with the capability and intent to threaten our homeland and core national interests in the Indo-Pacific. The U.S. is prioritizing deterring war with China in the Pacific, recognizing the reality of scarcity, and making the resourcing tradeoffs to ensure deterrence does not fail.

Deterrence cannot fail, for all of our sakes.

As the United States prioritizes its attention to these threats, European allies must lead from the front.

Together, we can establish a division of labor that maximizes our comparative advantages in Europe and Pacific respectively.

In my first weeks as Secretary of Defense, under President Trump’s leadership, we’ve seen promising signs that Europe sees this threat, understands what needs to be done, and is stepping up to the task.

For example, Sweden recently announced its largest ever assistance package. We applaud them for committing $1.2 billion in ammunition and other needed materiel.

Poland is spending 5% of GDP on defense already, which is a model for the continent.

And 14 countries are co-leading Capability Coalitions. These groups are doing great work to coordinate Europe’s contributions of lethal assistance across eight key capability areas.

These are first steps. More must still be done.

We ask each of your countries to step up on fulfilling the commitments that you have made.

And we challenge your countries, and your citizens, to double down and re-commit yourselves not only to Ukraine’s immediate security needs, but to Europe’s long-term defense and deterrence goals.

Our transatlantic alliance has endured for decades. And we fully expect that it will be sustained for generations to come. But this won’t just happen.

It will require our European allies to step into the arena and take ownership of conventional security on the continent.

The United States remains committed to the NATO alliance and to the defense partnership with Europe. Full stop.

But the United States will no longer tolerate an imbalanced relationship which encourages dependency. Rather, our relationship will prioritize empowering Europe to own responsibility for its own security.

Honesty will be our policy going forward – but only in the spirit of solidarity.

President Trump looks forward to working together, to continuing this frank discussion amongst friends, and to achieve peace through strength – together.

Thank you.

MIL OSI USA News –

February 13, 2025
MIL-OSI: Innofactor updates its Dividend Distribution Policy

Source: GlobeNewswire (MIL-OSI)

Innofactor Plc Other information disclosed according to the rules of the Exchange, on February 12, 2025, at 18:00 Finnish time

Innofactor Plc’s Board of Directors has confirmed the company’s updated Dividend Distribution Policy on February 12, 2025. According to the renewed policy, the company will generally not pay dividends in the future but will instead use the retained earnings for growth-enhancing measures.

According to the previous policy, the aim of the company was to pay a dividend regularly each year. The goal was to pay about half of the result for the financial period in dividends, taking into account the company’s financial position, possible corporate reorganizations and other development needs.

Espoo, February 12, 2025

INNOFACTOR PLC

Sami Ensio, CEO

Additional information:
Sami Ensio, CEO
Innofactor Plc
Tel. +358 50 584 2029
sami.ensio@innofactor.com

Distribution:
NASDAQ Helsinki
Main media
www.innofactor.com

Innofactor
Innofactor is the leading driver of the modern digital organization in the Nordic Countries for its about 1,000 customers in commercial and public sector. Innofactor has the widest solution offering and leading know-how in the Microsoft ecosystem in the Nordics. Innofactor has about 600 enthusiastic and motivated top specialists in Finland, Sweden, Denmark and Norway. www.innofactor.com #AIDriven #PeopleFirst #BeTheRealYou

The MIL Network –

February 13, 2025
MIL-OSI USA: Assessing the Global Climate in January 2025
Source: US National Oceanographic Data Center

January Highlights:
- Temperatures were above average over much of the globe, but much below average over the United States, Greenland and far eastern Russia.
- Eurasian snow cover extent and Arctic sea ice extent both ranked second lowest on record for January.
- Global tropical cyclone activity was slightly below average with five named storms, three of which occurred in the Indian Ocean.
Temperature

The January global surface temperature was 2.39°F (1.33°C) above the 20th-century average of 53.6°F (12.0°C) and 0.05°F (0.03°C) above the previous record set last year, making last month the warmest January on record. According to NCEI’s Global Annual Temperature Outlook, there is a 7% chance that 2025 will rank as the warmest year on record.

The new January global record is particularly notable for having occurred during a La Niña episode, the cold phase of El Niño Southern Oscillation (ENSO). Global temperatures tend to be cooler during periods of ENSO-neutral conditions and even cooler during La Niña. According to NOAA’s Climate Prediction Center’s January 9 ENSO Diagnostic Discussion, La Niña conditions emerged in December 2024 and are expected to persist through February–April 2025 (59% chance), with a transition to ENSO-neutral likely during March–May 2025 (60% chance).

January temperatures were above average across much of the global land surface, particularly over Alaska, much of western Canada and most of central Eurasia. The United States, Greenland, far eastern Russia and parts of southern Africa and Antarctica were colder than average. Overall it was the warmest January on record over global land areas. Sea surface temperatures were above average over most areas, while much of the central and eastern tropical Pacific was below average (consistent with La Niña), as were parts of the southeast Pacific, western North Atlantic and the northwestern Indian Oceans. The global ocean was the second warmest on record for January.

Snow Cover

The Northern Hemisphere snow cover extent in January was the fourth lowest on record. While snow cover over North America and Greenland was slightly above average (by 80,000 square miles), Eurasia ranked second lowest on record (940,000 square miles below average). Areas of below-average snow cover stretched across most of Europe southeastward into central Asia.

Sea Ice

Global sea ice extent was the seventh smallest in the 47-year record at 6.89 million square miles, which was 1.17 million square miles below the 1991–2020 average. Arctic sea ice extent was below average (by 330,000 square miles), ranking second lowest on record, and Antarctic extent was slightly below average (by 130,000 square miles).

Tropical Cyclones

Five named storms occurred across the globe in January, which was below the average of seven. Three named storms formed in the southwestern Indian Ocean, the most impactful being Intense Tropical Cyclone Dikeledi, which made landfall on Madagascar and Mozambique, bringing high winds and heavy rains to the affected regions.

For a more complete summary of climate conditions and events, see our January 2025 Global Climate Report or explore our Climate at a Glance Global Time Series.

MIL OSI USA News –
February 13, 2025
MIL-OSI: Kvika banki hf.: Consolidated Financial Statements 2024
Source: GlobeNewswire (MIL-OSI)

At a board meeting on 12 February 2025, the Board of Directors and the CEO approved the consolidated financial statements of Kvika banki hf. (“Kvika” or “the bank”) for the year 2024.

Highlights of performance in the fourth quarter (Q4 2024)
- Profit before tax from continuing operations amounts to ISK 1,601 million, compared to ISK 363 million in Q4 2023, increasing by ISK 1,238 million from previous year or 340%.
- Post-tax profit of the group as a whole amounts to ISK 3,447 million in Q4 2024, compared to ISK 1,578 million in Q4 2023, increasing by ISK 1,869 million from previous year or 118%.
- Net interest income amounts to ISK 2,498 million in Q4 2024, compared to ISK 2,331 million in Q4 2023, increasing by ISK 167 million from previous year or 7.1%.
- Net interest margin was 3.8% in Q4 2024, compared to 3.9% in Q4 2023.
- Net fee and commission income amounts to ISK 1,601 million in Q4 2024, compared to ISK 1,578 million in Q4 2023, increasing by ISK 23 million from previous year or 1.5%.
- Other net operating income amounts to ISK 567 million in Q4 2024, compared to ISK a 94 million in Q4 2023, increasing by ISK 473 million from previous year or 503%.
- Administrative expenses amount to ISK 2,864 million in Q4 2024, compared with ISK 2,779 million in Q4 2023, increasing by ISK 85 million from previous year or 3%.
- Pre-tax return on tangible equity (RoTE) of continuing operations amounted to 18.5%
- Earnings per share amounted to ISK 0.74 in Q4 2024, compared to ISK 0.33 in Q4 2023.
Income from assets held for sale:
- Post-tax profit of TM insurance is summarized in the income statement as asset held for sale and amount to ISK 1,919 million in Q4 2024, compared to ISK 990 million in Q4 2023.
- Combined ratio of insurance operations was 87.8%, compared to 92.5% in the fourth quarter of 2023.
Key balance sheet figures:
- Deposits from customers amount to ISK 163 billion at year-end 2024, compared to ISK 143 billion at year-end 2023 and increased by 15% in the year.
- Loans to customers amount to ISK 150 billion at year-end 2024, compared to ISK 136 billion at year-end 2023 and increased by 10%.
- Total assets amount to ISK 355 billion at year-end 2024, compared to ISK 335 billion at year-end 2023.
- Total equity of the group amount to ISK 90 billion at year-end 2024, compared to ISK 82 billion at year-end 2023.
- The capital adequacy ratio (CAR) was 22.8% at year-end 2024, compared to 22.6% at year-end 2023, and the solvency ratio of the financial conglomerate was 1.33.
- Total liquidity coverage ratio (LCR) of the group was 360% at year-end 2024, compared to 247% at year-end 2023.
- Total assets under management amount to ISK 456 billion, compared to ISK 470 billion at year-end 2023.
Highlights of the 2024 Consolidated Financial Statements:
- Profit before tax from continuing operations amounts to ISK 5,817 million in 2024, compared to ISK 3,009 million in 2023, increasing by ISK 2,808 million from previous year or 93.3%.
- Post-tax profit of the group as a whole amounts to ISK 8,150 million in 2024, compared to ISK 4,033 million in 2023, increasing by ISK 4,117 million from previous year or 102%.
- Net interest income amounts to ISK 9,681 million in 2024, compared to ISK 8,021 million in 2023, increasing by ISK 1,660 million from previous year or 21%.
- Net interest margin was 3.8% in 2024, compared to 3.6% in 2023.
- Net fee and commission income amounts to ISK 6,137 million in 2024, compared to ISK 5,916 million in 2023, increasing by ISK 220 million from previous year or 3.7%.
- Other net operating income amounts to ISK 1,367 million, compared to ISK 915 million in 2023, increasing by ISK 452 million from previous year or 49%.
- Administrative expenses amount to ISK 10,608 million, compared to ISK 10,785 million in 2023, decreasing by ISK 177 million from previous year or 1.6%.
- Pre-tax return on tangible equity (RoTE) from continuing operations was 18.8%, compared to 10.2% in 2023.
- Earnings per share amounted to ISK 1.73 in 2024, compared to ISK 0.84 in 2023.
Income from assets held for sale:
- Post-tax profit of assets classified as held for sale, which consist of subsidiary TM insurance, is summarized in the income statement and amounted to ISK 3,460 million in 2024, compared to ISK 1,730 million in 2023.
- Combined ratio of insurance operations was 93.9%, compared to 93.6% during the year 2023.
The Board of Directors of Kvika proposes that a dividend of 0.44 ISK per share for a total amount of ISK 2,050 million, taking into account treasury shares held by the Group, will be paid in the year 2025 on 2024 operations. The dividend payment amounts to 25% of profit after tax for the year, which is in line with the Bank’s dividend policy. Additionally, the Board will decide on an extraordinary dividend upon receipt of the purchase price for TM as well as initiating a share buy back programme, for which the Bank has received an approval from the Central Bank of Iceland that is contingent on the finalisation of the TM sale.

Ármann Þorvaldsson, CEO of Kvika:

“It is safe to say that 2024 has been transformative for the Bank. Characterized by a significant turnaround in Kvika’s operations following two challenging years, the year is also marked by the significant strategic steps taken towards streamlining the business through the sale of TM to Landsbankinn, which we hope will receive final approval in the coming weeks.

Profit before tax from continuing operations increased significantly between years, by over 90%, and return on tangible equity rose from 10.2% to 18.8%, which is slightly below the bank’s long-term target. The outcome was largely driven by a 21% increase in net interest income, alongside growth in both net investment- and net fee and commission income. However, it was not only the income side that delivered this good result. A reduction in staff and effective cost management resulted in a 1.6% decrease in operating expenses between years, during a period when inflation was around 6% with a backdrop of material wage increases.

TM’s operations were very good last year and the operating results of the Kvika Group as a whole were excellent. The Group’s profit after tax amounted to over ISK 8 billion in 2024, doubling from the previous year.

Looking ahead, we are optimistic about the prospects for the new year. Market conditions seem considerably better than a year ago, interest rates have started to decline and Kvika is well positioned to explore diverse opportunities in both Iceland and the UK. The sale of TM not only enables a substantial return to shareholders but also provides us the opportunity to leverage the remaining equity to expand our loan book. A larger loan book enhances our operational efficiency and increases stable income without a corresponding rise in costs while strengthening the bank’s foundation through a more diversified portfolio.

Furthermore, we are committed to significantly strengthening our investment banking and asset management operations, aiming to boost both fee and investment income moving forward.”

Presentation for shareholders and market participants

A presentation for shareholders and market participants is scheduled for Thursday, February 13, at 08:30, at Kvika’s headquarters, located on the 9th floor of Katrínartún 2. The presentation will be conducted in Icelandic, with a live stream available on the following website:
https://kvika.is/kynning-a-uppgjori-arsreikningur-2024

Meeting participants will be able to send questions before or during the meeting via ir@kvika.is or through the Slido app here.

Attached is the investor presentation. Additionally, a recording with English subtitles will be made available on Kvika’s website.

Attachments

The MIL Network –
February 13, 2025
MIL-OSI United Kingdom: UK leads major Ukraine Summit and announces £150 million firepower package
Source: United Kingdom – Government Statements

Defence leaders from across the world have gathered in Brussels today as the UK convenes a major Ukraine summit at NATO HQ.
UK convenes the 26th Ukraine Defence Contact Group in Brussels today – the first time the meeting has been chaired by a European nation – supporting UK and European security, a foundation of the Government’s Plan for Change.

Defence Secretary confirms landmark half a million rounds of artillery ammunition – worth more than £1 billion – has now been provided to Ukraine by the UK

New £150 million firepower package of military aid including drones, tanks and air defence systems will give Ukrainian soldiers fighting Russia the equipment they need.

Defence leaders from across the world have gathered in Brussels today as the UK convenes a major Ukraine summit at NATO HQ, demonstrating the UK’s leadership and unwavering military support for Ukraine in its fight against Putin’s illegal invasion.

Over 50 allies and partners, including Ukraine, the US, Japan and Australia, met for the 26th Ukraine Defence Contact Group, chaired by Defence Secretary John Healey, the first time for any European nation.

Opening the meeting, the Defence Secretary announced a new £150m military support package to support Ukrainian troops fighting Russia on the frontline, part of the UK’s unprecedented £3 billion annual pledge to Ukraine.

This year, the UK’s total commitment has reached its highest ever level, standing at £4.5 billion, ensuring Ukraine can achieve peace through strength and underscoring the new 100 Year Partnership between the UK and Ukraine.

Chairing the meeting, Defence Secretary John Healey said: 

2025 is the critical year for the war in Ukraine. Ukrainians continue to fight with huge courage – military and civilians alike, and their bravery – fused with our support – has proved a lethal combination.

Speaking as a European Defence Minister, we know our responsibilities. We are doing more of the heavy lifting and sharing more of the burden.

While Russia is weakened, it remains undeniably dangerous. We must step up further – and secure peace through strength – together.

Speaking at today’s meeting, where he was joined by Ukrainian Defence Minster Rustem Umerov, US Secretary of Defense Pete Hegseth, German Defence Minister Boris Pistorius, French Minister of the Armed Forces Sébastien Lecornu and NATO Secretary General Mark Rutte, Defence Secretary Healey confirmed that the UK has sent a landmark 500,000 rounds of ammunition to Ukraine since Russia’s full-scale invasion, worth over £1 billion.

The Defence Secretary also confirmed that the UK is on track to provide more than 10,000 drones to Ukraine in a single year, with final deliveries due next month.

Today’s £150 million package includes thousands of drones, dozens of battle tanks and armoured vehicles and air defence systems.

More than 50 armoured and protective vehicles, including modernised T-72 tanks will be deployed to Ukraine by the end of spring, building on the thousands of pieces of equipment the UK has already given to Ukraine.

The air defence equipment will support more than 100 Ukrainian air defence teams, and has a 90% success rate of shooting down kamikaze drones, protecting Ukrainian critical national infrastructure including electricity sites frequently targeted by Russia. Announced by the Prime Minister Keir Starmer in Kyiv last month, the UK and Denmark are also providing fifteen Gravehawks to Ukraine.

Today’s package also includes major new maintenance contracts to support in-country repairs to critical kit – helping keep Ukraine’s tanks and artillery in the fight and bringing broken equipment back into use.

The Government is clear that the security of the UK starts in Ukraine and is therefore committed to Ukraine’s long-term security as a foundation for the government’s Plan for Change.

As part of today’s announcement, thousands of pieces of military equipment the UK has already donated to Ukraine will be repaired and better maintained through contracts worth around £60 million.

In a boost the UK’s economy, this includes a multi-million-pound contract with UK defence firm Babcock, who will train Ukrainian personnel to maintain and repair crucial equipment such as Challenger 2 tanks, self-propelled artillery, and combat reconnaissance vehicles inside Ukraine. Through this agreement, equipment can be serviced and returned to the front line quicker.

UK defence giant BAE Systems has also been awarded a £14 million contract, funded by Sweden and procured through the UK-administered International Fund for Ukraine, to repair Archer artillery systems. Working with Lancashire-based firm AMS, repairs of the Swedish-gifted Archer systems will be carried out in Ukraine with Ukrainian soldiers given technical training so they can maintain equipment for years to come.

Today’s announcement comes ahead of tomorrow’s NATO Defence Ministerial meeting, where Defence Secretary Healey will set out that in this critical year, nations must step up and back Ukraine with the resources they need to achieve long-term peace in the face of Russian aggression.

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Published 12 February 2025

Invasion of Ukraine

UK visa support for Ukrainian nationals

Move to the UK if you’re coming from Ukraine

Homes for Ukraine: record your interest

Find out about the UK’s response
MIL OSI United Kingdom –
February 13, 2025

MIL-OSI: Municipality Finance Plc Financial Statements Bulletin 1 January–31 December 2024

Source: GlobeNewswire (MIL-OSI)

Municipality Finance Plc
Financial Statements Bulletin
12 February 2025 at 5:00 pm (EET)

Municipality Finance Plc Financial Statements Bulletin 1 January–31 December 2024

In brief: MuniFin Group in 2024

The Group’s net operating profit excluding unrealised fair value changes* increased by 2.9% (3.2%) in January–December and amounted to EUR 181 million (EUR 176 million). Net interest income* was at the same level as in year before and totalled EUR 260 million (EUR 259 million). Net operating profit excluding unrealised fair value changes was boosted by lower expenses and increased other income compared to the previous period.
Net operating profit* amounted to EUR 166 million (EUR 139 million). Unrealised fair value changes amounted to EUR -16 million (EUR -37 million) in the financial year. Unrealised fair value changes were influenced in particular by changes in interest rates and credit risk spreads in the Group’s main funding markets.
Costs* in the financial year amounted to EUR 81 million (EUR 82 million).
The Group’s leverage ratio remained at a strong level, standing at 12.3% (12.0%) at the end of December.
At the end of December, the Group’s CET1 capital ratio was very strong at 107.7% (103.4%). CET1 capital ratio was over seven times the required minimum of 15.0% (13.9%), taking capital buffers into account.
Long-term customer financing (long-term loans and leased assets) excluding unrealised fair value changes* totalled EUR 35,787 million (EUR 32,948 million) at the end of December and saw an increase of 8.6% (7.5%). New long-term customer financing* increased by 17.1% (0.0%) in January–December 2024 and amounted to EUR 5,056 million (EUR 4,319 million). Short-term customer financing* totalled EUR 1,825 million (EUR 1,575 million).
Of all long-term customer financing, the amount of green finance* aimed at environmentally sustainable investments totalled EUR 6,817 million (EUR 4,795 million), and the amount of social finance* aimed at investments promoting equality and communality totalled EUR 2,536 million (EUR 2,234 million) at the end of December. The total amount of this financing increased by 33.1% (41.0%) from the previous year. The ratio of green and social finance to long-term customer financing excluding unrealised fair value changes* grew by 4.8% percentage points to 26.1% (21.3%).
In 2024, new long-term funding* reached EUR 8,922 million (EUR 10,087 million). At the end of December, the total funding* was EUR 46,737 million (EUR 43,320 million), of which long-term funding* made up EUR 43,328 million (EUR 39,332 million).
The Group’s total liquidity* is very strong, standing at EUR 11,912 million (EUR 11,633 million) at the end of the financial year. The Liquidity Coverage Ratio (LCR) stood at 341% (409%) and the Net Stable Funding Ratio (NSFR) at 124% (124%) at the end of the year.
In early 2024, MuniFin reviewed the future and development potential of the consulting services offered by its subsidiary company Financial Advisory Services Inspira Plc (Inspira) and decided to discontinue Inspira’s consulting services in summer 2024.
The Board of Directors proposes to the Annual General Meeting to be held in spring 2025 a dividend of EUR 1.86 per share, totalling EUR 72.7 million. The total dividend payment in 2024 was EUR 1.69 per share, totalling EUR 66.0 million.
Outlook for 2025: The Group expects its net operating profit excluding unrealised fair value changes to be at the same level or lower in 2025 as in 2024. The Group expects its capital adequacy ratio and leverage ratio to remain strong. The valuation principles set in the IFRS framework may cause significant but temporary unrealised fair value changes, some of which increase the volatility of net operating profit and make it more difficult to estimate.

Comparison figures deriving from the income statement and figures describing the change during the financial year are based on figures reported for the corresponding period in 2023. Comparison figures deriving from the balance sheet and other cross-sectional items are based on the figures of 31 December 2023 unless otherwise stated.

* Alternative performance measure.

Key figures (Group)

	Jan–Dec 2024	Jan–Dec 2023	Change, %
Net operating profit excluding unrealised fair value changes (EUR million)*	181	176	2.9
Net operating profit (EUR million)*	166	139	19.5
Net interest income (EUR million)*	260	259	0.3
New long-term customer financing (EUR million)*	5,056	4,319	17.1
New long-term funding (EUR million)*	8,922	10,087	-11.6
Cost-to-income ratio, %*	27.7	32.2	-14.0**
Return on equity (ROE), %*	7.2	6.6	9.3**
	31 Dec 2024	31 Dec 2023	Change, %
Long-term customer financing (EUR million)*	35,173	32,022	9.8
Green and social finance (EUR million)*	9,353	7,029	33.1
Balance sheet total (EUR million)	53,092	49,736	6.7
CET1 capital (EUR million)	1,646	1,550	6.2
Tier 1 capital (EUR million)	1,646	1,550	6.2
Total own funds (EUR million)	1,646	1,550	6.2
CET1 capital ratio, %	107.7	103.4	4.2**
Tier 1 capital ratio, %	107.7	103.4	4.2**
Total capital ratio, %	107.7	103.4	4.2**
Leverage ratio, %	12.3	12.0	2.5**
Personnel	178	185	-3.8

* Alternative performance measure.
** Change in ratio.

Comment on the 2024 financial year by President and CEO Esa Kallio

The operating environment in global economy and international politics went through a whirlwind of changes in 2024. Even in the turmoil, Finland stood steady and secure: our society is built on long-standing practices and institutions that have been developed together and tried and tested over time. This stability also helps safeguard MuniFin’s strong performance through shifts in the operating environment. Finnish society must continue to operate in broad collaboration and develop the structures of society in the long term. Sometimes this requires difficult decisions in society in the short term.

In 2024, the demand for MuniFin’s financing was especially high in the affordable social housing sector. In the future, however, the sector will be facing reductions on interest subsidy loan authorisations.

The Finnish system for affordable social housing is a success story that has served as a model across Europe – and will hopefully continue to do so, especially now that the rising cost of living has led to a surge in homelessness in many countries. Our state-subsidised housing production system has proven effective in reducing homelessness and regional segregation, increasing the supply of affordable social housing in growth centres, advancing municipalities’ housing policy goals of ensuring a diverse housing structure, and providing high-quality housing also to students, senior citizens and people with disabilities.

Especially in the past couple of years, affordable housing production has also significantly supported the vitality of the Finnish construction sector, helping offset the slump in housing construction. Finland’s well-functioning system should not be changed; rather, the current model and level of housing production subsidies should be kept as they are. Timely investments into affordable social housing production can also help level out construction cycles and support employment.

In 2024, MuniFin reached new milestones in sustainable investments. In October, we issued our tenth green bond, the high demand of which was once again testament to our strong position as an international forerunner in the financial sector. Moreover, sustainable finance made up the majority of the new long-term customer financing we granted in 2024.

Information on the Group results

Consolidated income statement	Jan–Dec 2024	Jan–Dec 2023	Change, %	Jul–Dec 2024	Jul–Dec 2023	Change, %
(EUR million)
Net interest income	260	259	0.3	132	135	-2.4
Other income	2	0	>100	1	-1	>100
Income excluding unrealised fair value changes	262	259	1.1	132	134	-1.4
Commission expenses	-17	-16	8.2	-9	-8	11.2
HR expenses	-21	-20	2.0	-10	-10	-4.3
Other items in administrative expenses	-23	-20	12.4	-12	-11	12.0
Depreciation and impairment on tangible and intangible assets	-6	-7	-7.8	-3	-3	-14.3
Other operating expenses	-14	-19	-27.0	-7	-7	-0.6
Costs	-81	-82	-1.9	-40	-39	3.0
Credit loss and impairments on financial assets	0	-1	-72.9	-1	-1	-38.7
Net operating profit excluding unrealised fair value changes	181	176	2.9	92	95	-2.8
Unrealised fair value changes	-16	-37	-58.4	-31	-33	-3.6
Net operating profit	166	139	19.5	61	62	-2.4
Income tax expense	-33	-28	17.3	-12	-12	-2.3
Profit for the period	133	111	20.1	48	50	-2.4

The Group’s net operating profit excluding unrealised fair value changes

MuniFin Group’s core business operations remained strong in 2024. The Group’s net operating profit excluding unrealised fair value changes increased by 2.9% (3.2%) and amounted to EUR 181 million (EUR 176 million). The growth was influenced both by an increase in other income and a decrease in costs as net interest income remained at the level of previous year.

The Group’s income excluding unrealised fair value changes was EUR 262 million (EUR 259 million) and grew by 1.1% (6.5%). Net interest income grew by 0.3% (7.5%), totalling EUR 260 million (EUR 259 million). Net interest income was positively affected by growing business volumes. The increase in funding costs due to the market conditions and the shape of the yield curve slowed the growth of net interest income.

Other income totalled EUR 2.0 million (EUR 0.1 million). It consisted mainly of the billing of MuniFin’s digital services and the turnover of the subsidiary company Inspira from the early part of the year. In the previous year, negative realised FX rate changes reduced other income. At 0.8% (0.1%), other income relative to income excluding unrealised fair value changes forms only a minor part of the Group’s income.

The Group’s costs were EUR 81 million (EUR 82 million), down by 1.9% from the year before (+12.4%). The reduction in expenses was due to the fact that no contribution fee was collected for the Single Resolution Fund in 2024.

Commission expenses totalled EUR 17 million (EUR 16 million), of which EUR 14 million (EUR 13 million) consisted of the guarantee commission collected by the Municipal Guarantee Board for guaranteeing MuniFin’s funding.

HR and administrative expenses grew by 7.2% (9.0%) and reached EUR 44 million (EUR 41 million). HR expenses comprised EUR 21 million (EUR 20 million) and other administrative expenses EUR 23 million (EUR 20 million). The average number of employees in the Group was 187 (183) during the financial year. Other items in administrative expenses grew by 12.4% (8.8%), mainly due to the increased costs of maintaining and developing information systems.

During the financial year, depreciation and impairment of tangible and intangible assets totalled EUR 6 million (EUR 7 million).

Other operating expenses were EUR 14 million (EUR 19 million). The main reason for this decrease is that there was no contribution fee to the Single Resolution Fund in 2024. Other operating expenses excluding fees collected by authorities grew by 22.1% (9.9%) to EUR 11 million (EUR 9 million).

Credit loss and impairments on financial assets were EUR 0.3 million (EUR 1.2 million). This item consists of expected credit losses (ECL). The Group updated the model used to estimate the probability of default and the forward-looking macro scenarios during the financial year. The Group’s management has assessed the impact of general cost inflation and increased interest rates on customer financing receivables and credit risk and decided to release the additional discretionary provision in full at the end of 2024 (the amount of the additional discretionary provision was EUR 0.6 million at the end of 2023, and in June 2024, EUR 0.4 million of the additional provision was released). The update of the probability of default model increased expected credit losses by EUR 0.9 million euros, as the amount of exposures that moved from stage 1 to stage 2 increased. Most of the transferred exposures were subject to the previous additional discretionary provision. Therefore, the Group’s management considered that there is no longer a basis for recording a group-specific additional provision.

The Group’s overall credit risk position has remained low. The amount of forborne loans was EUR 561 million (EUR 497 million), while non-performing exposures amounted to EUR 292 million (EUR 142 million) at the end of the year. These non-performing exposures represented 0.8% (0.4%) of total customer exposures. At the end of December, the Group had EUR 13 million in receivables due to the insolvency of customers, for which the collateral realisation process is ongoing, or the credit receivable is due for payment by the guarantor (there were no such receivables at the end of 2023). All the Group’s customer financing receivables are from Finnish municipalities, joint municipal authorities, wellbeing services counties or joint county authorities, or accompanied by a securing municipal, joint municipal authority, wellbeing services county or joint county authority guarantee or a state deficiency guarantee supplementing real estate collateral, and therefore no final credit losses will arise. According to the management’s assessment, all receivables from customers will be fully recovered. During the Group’s history of 35 years, it has never recognised any final credit losses in its customer financing.

The credit risk of the Group’s liquidity portfolio has likewise remained at a low level, and the average credit rating of the debt securities in the portfolio is AA+ (AA+).

The Group’s profit and unrealised fair value changes

The Group’s net operating profit was EUR 166 million (EUR 139 million). Unrealised fair value changes decreased the Group’s net operating profit by EUR 16 million (in 2023: decreased by EUR 37 million). In January–December, unrealised fair value changes in hedge accounting amounted to EUR -12 million (EUR -27 million) and unrealised net result on financial assets and liabilities through profit or loss to EUR -4 million (EUR -10 million).

The Group’s effective tax rate in the financial year was 19.9% (20.2%). Taxes in the Consolidated income statement amounted to EUR 33 million (EUR 28 million). After taxes, the Group’s profit for the financial year was EUR 133 million (EUR 111 million).

The Group’s full-year return on equity (ROE) was 7.2% (6.6%). Excluding unrealised fair value changes, the ROE was 7.9% (8.4%).

The Group’s other comprehensive income includes unrealised fair value changes of EUR 169 million (EUR 109 million). During the financial year, the most significant item affecting the other comprehensive income was net change in fair value due to changes in own credit risk of financial liabilities designated at fair value through profit or loss totalling EUR 137 million (EUR 75 million). The cost-of-hedging amounted to EUR 30 million (EUR 25 million). Net change in fair value of financial assets at fair value through other comprehensive income was EUR 2 million (EUR 8 million).

On the whole, unrealised fair value changes net of deferred tax affected the Group’s equity by EUR 122 million (EUR 57 million) and CET1 capital net of deferred tax in capital adequacy by EUR 13 million (EUR -3 million). The cumulative effect of unrealised fair value changes on the Group’s own funds in capital adequacy calculations was EUR 58 million (EUR 45 million).

Unrealised fair value changes reflect the temporary impact of market conditions on the valuation levels of financial instruments at the time of reporting. The value changes may vary significantly from one reporting period to another, causing volatility in profit, equity and own funds in capital adequacy calculations. The effect on individual contracts will be removed by the end of the contract period. In the financial year, unrealised fair value changes were influenced in particular by changes in interest rates and credit risk spreads in the Group’s main funding markets.

In accordance with its risk management principles, the Group uses derivatives to financially hedge against interest rate, exchange rate and other market and price risks. Cash flows under agreements are hedged, but due to the generally used valuation methods, changes in fair value differ between the financial instrument and the respective hedging derivative. Changes in the shape of the interest rate curve and credit risk spreads in different currencies affect the valuations, which cause the fair values of hedged assets and liabilities and hedging instruments to behave in different ways. In practice, the changes in valuations are not realised on a cash basis because the Group holds financial instruments and their hedging derivatives almost always until the maturity date. The counterparty credit risk related to derivatives is comprehensively covered by collateral management. Changes in credit risk spreads are not expected to be materialised as credit losses for the Group, because the Group’s liquidity reserve has been invested in instruments with low credit risk.

The Parent Company and subsidiary company Inspira’s results

In 2024, MuniFin’s net interest income amounted to EUR 260 million (EUR 259 million) and net operating profit to EUR 166 million (EUR 139 million).

The turnover of MuniFin’s subsidiary company, Financial Advisory Services Inspira Ltd, was EUR 0.4 million (EUR 1.4 million), and its net operating result amounted to EUR -0.5 million (EUR 0.0 million). The Group discontinued Inspira’s advisory services in the spring. In the future, the subsidiary company will provide some of the digital added value services MuniFin offers to its customers.

The Group’s financial performance in July–December

In the second half of 2024, the Group’s net operating profit excluding unrealised fair value changes amounted to EUR 92 million (Jul–Dec 2023: EUR 95 million), remaining almost at the same level as in the year before. Net interest income totalled EUR 132 million (Jul–Dec 2023: EUR 135 million) and costs EUR 40 million (Jul–Dec 2023: EUR 39 million) in July–December. Unrealised fair value changes weakened the net operating profit by EUR 31 million (in the comparison period Jul–Dec 2023: weakened by EUR 33 million). The Group’s net operating profit amounted to EUR 61 million (Jul–Dec 2023: EUR 62 million) in July–December.

In the second half of the year, the Group’s net operating profit excluding unrealised fair value changes increased by 3.1% from the first half. Net interest income went up by 2.4% from the first half of the year. Costs amounted to EUR 40 million in July–December and to EUR 41 million in January–June. The Group’s net operating profit totalled EUR 61 million in July– December, decreasing by 42.4% from January–June. In the second half of the year, unrealised fair value changes affected the net operating profit by EUR -31 million, while in the first half of the year, their effect was EUR 16 million.

Outlook for 2025

Europe’s economy is starting 2025 off from a weaker position than anticipated. Business cycle expectations are subdued, and the global operating environment is fraught with uncertainty. Donald Trump’s presidential administration is expected to pursue protectionist trade policies, which could, at worst, severely slow down the euro area’s economic recovery.

However, if Europe is exempted from the planned universal tariff on all US imports and the euro continues to weaken, businesses in the euro area could even find new opportunities to expand their market share in the US. Europe could also suffer negative economic effects if capital needed to improve productivity is increasingly allocated to strengthening military defence and supply security. The political turmoil in France and Germany adds another layer of uncertainty into the euro area economy.

To counterbalance the growing economic uncertainty, the European Central Bank is expected to continue brisk interest rate cuts in 2025. Short-term market rates are projected to come down to about two per cent or even slightly below that by mid-year.

The sharp interest rate cuts will be the most crucial booster for the Finnish economy in 2025. Although the overall tone of the economic turnround is still relatively subdued, the simultaneous recovery of demand drivers could boost annual GDP growth to surprisingly strong figures. Even so, macroeconomic forecasts continue to be very uncertain. Finland’s two most important export markets, the US and Germany, both entail considerable risks, and a sharperthan-expected decline in employment casts a shadow over the recovery of the domestic market. From the Group’s perspective, the 2024 rise in credit risk spreads is expected to push up the cost of funding, weakening the Group’s net interest income in 2025.

Municipalities are undergoing sizeable adjustment programmes, but their financing deficit is nevertheless expected to grow again in 2025. Municipal finances are strained by several factors: central government transfer cuts resulting from the balancing of health and social services reform transfers, increased net investments, health and social services facilities that are left unused by wellbeing services counties but continue to incur maintenance, conversion and demolition costs, as well as uncertainty surrounding the actual costs of the employment services reform. In addition, the weakened employment outlook poses a serious risk to tax revenues.

Privately funded housing production is expected to take an upward turn in 2025, but its volume will nevertheless remain well below normal levels. The housing market is starting to gradually pick up, and housing prices are expected to start rising moderately from 2025 onwards. In contrast, state-subsidised housing production will see fewer building starts due to reductions on interest subsidy loan authorisations. In March 2025, the Housing Finance and Development Centre of Finland (Ara) will cease to operate as an independent government agency and its operations will instead be integrated under the Ministry of the Environment. This change does not mean the end of state-subsidised housing production; rather, it aims to improve the administration of affordable social housing production. According to MuniFin’s analysis, the integration will not have a direct effect on MuniFin’s business. Interest subsidy loans will continue to be granted to state-subsidised housing production, but the related processes will be administered at the Ministry of the Environment. MuniFin will monitor the practical implications closely. With the managing authority changing, the Company may need to make changes to some of its processes in response.

Considering the above-mentioned circumstances, the Group expects its net operating profit excluding unrealised fair value changes to be at the same level or lower in 2025 as in 2024. The Group expects its capital adequacy ratio and leverage ratio to remain strong. The valuation principles set in the IFRS framework may cause significant but temporary unrealised fair value changes, some of which increase the volatility of net operating profit and make it more difficult to estimate.

These estimates are based on a current assessment of the development of MuniFin Group’s operations and the operating environment.

Municipality Finance Plc

Further information:

Esa Kallio, President and CEO, tel. +358 50 337 7953

Harri Luhtala, Executive Vice President, Finance, CFO, tel. +358 50 592 9454

MuniFin (Municipality Finance Plc) is one of Finland’s largest credit institutions. The owners of the company include Finnish municipalities, the public sector pension fund Keva and the State of Finland. The Group’s balance sheet is over EUR 53 billion.

MuniFin’s customers include municipalities, joint municipal authorities, wellbeing services counties, joint county authorities, corporate entities under the control of the above-mentioned organisations, and affordable social housing. Lending is used for environmentally and socially responsible investment targets such as public transportation, sustainable buildings, hospitals and healthcare centres, schools and day care centres, and homes for people with special needs.

MuniFin’s customers are domestic, but the Company operates in a completely global business environment. The Company is an active Finnish bond issuer in international capital markets and the first Finnish green and social bond issuer. The funding is exclusively guaranteed by the Municipal Guarantee Board.

Read more: www.munifin.fi

Attachment

MuniFin_Financial_Statements_Bulletin_2024

The MIL Network –

February 13, 2025

MIL-OSI: Bitdeer Announces January 2025 Production and Operations Update

Source: GlobeNewswire (MIL-OSI)

– First trial batch of SEALMINER A2 air cooled rigs have been delivered to our datacenters and are running smoothly.

– Completed acquisition of 101 MW site and gas-fired power plant project in Alberta to deliver the industry’s first fully vertically-integrated Bitcoin mining site.

SINGAPORE, Feb. 12, 2025 (GLOBE NEWSWIRE) — Bitdeer Technologies Group (NASDAQ: BTDR) (“Bitdeer” or the “Company”), a world-leading technology company for blockchain and high-performance computing, today announced its unaudited mining and operations updates for January 2025.

Operational Update

Self-mined Bitcoin: 126 Bitcoins, down from the previous month due to temporary curtailments at our Bhutan site related to higher seasonal electricity prices.
Mining Rig Manufacturing and R&D:
- SEALMINER A1:
  - Mass production of approximately 3.7 EH/s of mining rigs remains on track with 0.4 EH/s powered on, 0.5 EH/s delivered for installation, 0.4 EH/s in-transit to datacenters and 2.4 EH/s in production. The manufacture of SEALMINER A1 is now expected to be completed at end of February or early March 2025.
- SEALMINER A2:
  - Production of approximately 35 EH/s of mining rigs through October 2025, delayed by approximately one month due to 6.4 magnitude earthquake that struck Taiwan on January 21, 2025.
  - First trial batch of air cooled rigs have been delivered to our mining datacenters for testing and are running stably.
  - ~29,000 units (~7 EH/s out of the 35 EH/s) of SEALMINER A2s allocated for external sales are expected to begin shipment in March through Q2 2025.
- SEALMINER A3:
  - SEAL03 initial tape-out sample wafers with an expected chip efficiency of approximately 10 J/TH are expected in Q1 2025.
- SEALMINER A4:
  - SEAL04 R&D remains on track to achieve an expected chip efficiency of approximately 5 J/TH with anticipated initial tape-out in Q3 2025.
- The Bureau of Industry and Security (“BIS”) of the U.S. Department of Commerce published a rule entitled “Implementation of Additional Due Diligence Measures for Advanced Computing Integrated Circuits”, in January 2025 (the “BIS Rules”). Based on preliminary review, the Company does not expect that the application of the BIS Rules will have any impact on the delivery of SEAL chips, as the outsourced semiconductor assembly and test (“OSAT”) companies for SEAL chips are Approved “OSAT” companies under BIS regulations.
HPC/AI:
- Discussions are ongoing with multiple development partners and potential end users for select large scale sites in U.S. for HPC/AI.
- Bitdeer AI Cloud, powered by NVIDIA DGX SuperPOD with H100, saw its average utilization rate drop to ~60% in January 2025 due to an initial shift toward R&D in model inference and AI Agents. In the short term, some DGX H100 systems will be allocated to deploying open-source models like DeepSeek, Llama, and Qwen, enhancing API support for AI Agents, optimizing platform services, and advancing related R&D.
Hosting:
- Client-hosted machines increased by 2,000 units and overall hashrate increased by 0.5 EH/s as customers are replacing older mining rigs with high efficiency ones.
Infrastructure:
- Tydal, Norway, 40 MW phase 1 expansion has completed installation of transformers, with delivery and installation of electrical equipment currently in progress. The energization application has entered into the fast track for final regulatory approval.
- Rockdale, Texas, USA, 100 MW hydro-cooling conversion is on track for phased completion during Q1 2025.
- Clarington Phase 2, Ohio, USA, 304 MW is still pending approval and in negotiation with the landlord.
- Jigmeling, Bhutan, 500 MW construction is on track with the primary substation expected to be completed by Q1 2025.
- Fox Creek, Alberta, 101 MW gas-fired power plant and 99 MW datacenter of capacity for Bitcoin mining planned for energization in Q4 2026.
Financing:
- Successfully executed a $17M supply chain financing facility with a 10.2% interest rate with a Singapore financial institution and completed the drawdown of facility in January 2025.

Management Commentary

“Our strategic acquisition of the 101 MW site near Fox Creek, Alberta and gas-fired power plant project marks a significant step in our strategy to become a fully-vertically integrated Bitcoin miner,” stated Matt Kong, Chief Business Officer of Bitdeer. “By combining our own power generation, SEALMINER mining machines and opportunistic grid participation, we believe this site will set a new benchmark for industry unit economics.”

Mr. Kong continued, “In terms of our ASICs roadmap, mass production of our SEALMINER A1s remain on schedule. SEALMINER A2s were slightly impacted by the 6.4 magnitude earthquake in Taiwan on January 21, 2025, and its mass production in H2 is expected to delay about one month. However, the first trial batch of SEALMINER A2 air cooled models have been delivered to our own datacenters for testing and are running smoothly. Further, we expect the initial tape-out sample wafers of our SEAL03 chip to be ready in March for testing. SEAL03 is expected to be the most advanced and energy-efficient Bitcoin mining chip on the market and represents a significant achievement for Bitdeer and the industry.”

Production and Operations Summary

Metrics	Jan 2025	Dec 2024	Nov 2024
Total hash rate under management¹(EH/s)	22.4	21.6	20.7
– Proprietary hash rate	9.2	8.9	8.8
• Self-mining	8.7	8.5	8.2
• Cloud Hash Rate	0.0	0.0	0.2
• Delivered but not hashing	0.5	0.4	0.4
– Hosting	13.2	12.7	11.9
Mining machines under management	179,000	175,000	178,000
– Self-owned²	87,000	85,000	86,000
– Hosted	92,000	90,000	92,000
Bitcoins mined (self-mining only)	126	145	150
Bitcoin held³	724	594	443

¹Total hash rate under management as of January 31, 2025 across the Company’s three primary business lines: Self-mining, Cloud Hash Rate, and Hosting.

Self-mining refers to cryptocurrency mining for the Company’s own account, which allows it to directly capture the high appreciation potential of cryptocurrency.
Cloud Hash Rate offers hash rate subscription plans and shares mining income with customers under certain arrangements. The Cloud Hash Rate stated above reflects the contracted hash rate with customers at month-end.
Hosting encompasses a one-stop mining machine hosting solution including deployment, maintenance, and management services for efficient cryptocurrency mining.

²Self-owned mining machines are for the Company’s self-mining business and Cloud Hash Rate business.
³Bitcoins held do not include the Bitcoins from deposits of the customers.

Infrastructure Construction Update

Rockdale, Texas – 100 MW Hydro-cooling conversion to be energized in phases in Q1 2025:

Cooling system will be delivered and installed in phases in Q1 2025.
Planning for phased energization by March 2025.

Tydal, Norway – 175 MW site expansion anticipated to be fully energized by mid-2025:

Installation of the transformers has been completed, with the delivery and installation of electrical equipment currently in progress. Additionally, the procurement and delivery of containers and hydro-cooling systems are underway, and drainage systems construction is ongoing.
Tydal, Norway Phase 1 40 MW expansion pending regulatory approval. Energization of the full 175 MW site is expected to occur no later than mid-2025, subject to regulatory approval.

Massillon, Ohio – 221 MW site construction has begun ahead of schedule:

Substation construction is underway and is expected to be completed in Q3 2025.
Building design is completed and construction has begun earlier than expected, estimated to be completed in phases between Q3 and Q4 2025.
Estimated energization timeline remains on track for mid-to-late 2025.

Clarington Phase 2, Ohio – 304 MW is still pending approval and in negotiation with the landlord.

Jigmeling, Bhutan – 500 MW site is progressing well, with the following key milestones achieved:

Construction of transformer and container foundations in progress and will be completed in phases, with the last phase expected by the end of February 2025.
132kv/140MW and 220kv/360MW substation designs are completed with construction anticipated to be finished by the end of Q1 2025.
Orders for the procurement of transformers and electrical equipment have been placed, with delivery and installation work to be completed in phases over Q1 and Q2 2025.
Procurement and delivery of containers and hydro-cooling systems are in progress, with completion expected in phases by the end of Q1 2025.

Fox Creek, Alberta – 101 MW site acquired in Alberta sits on 19 acres is fully licensed and permitted:

Acquisition includes all permits and licenses to construct an on-site natural gas power plant, as well as approval for a 99 MW grid interconnection with Alberta Electric System Operator (“AESO”).
Bitdeer will develop and construct the power plant in partnership with a leading Engineering, Procurement and Construction (“EPC”) company and is expected to be energized by Q4 2026.

Site / Location	Capacity (MW)	Status	Timing⁴
Electrical capacity
– Rockdale, Texas	563	Online	Completed
– Knoxville, Tennessee	86	Online	Completed
– Wenatchee, Washington	13	Online	Completed
– Molde, Norway	84	Online	Completed
– Tydal, Norway	50	Online	Completed
– Gedu, Bhutan	100	Online	Completed
Total electrical capacity	895⁵
Pipeline capacity
– Tydal, Norway Phase 1	40	In progress	Pending Regulatory Approval
– Tydal, Norway Phase 2	135	In progress	Mid 2025
– Massillon, Ohio	221	In progress	Mid-to-late 2025
– Clarington, Ohio Phase 1	266	In progress	Q3 2025
– Clarington, Ohio Phase 2	304	Pending approval	Estimate 2026
– Jigmeling, Bhutan	500	In progress	Mid-to-late 2025
– Rockdale, Texas	179	In planning	Estimate 2026
– Alberta, Canada	99	In planning	Q4 2026
Total pipeline capacity	1,744
Total global electrical capacity	2,639

⁴ Indicative timing. All timing references are to calendar quarters and years.
⁵ Figures may not add up due to rounding.

Upcoming Conferences and Events

March 11 – 12, 2025: Cantor Global Technology Conference in New York City
March 16 – 18, 2025: 37th Annual ROTH Growth Conference in Dana Point, California

About Bitdeer Technologies Group

Bitdeer is a world-leading technology company for blockchain and high-performance computing. Bitdeer is committed to providing comprehensive computing solutions for its customers. The Company handles complex processes involved in computing such as equipment procurement, transport logistics, datacenter design and construction, equipment management, and daily operations. The Company also offers advanced cloud capabilities to customers with high demand for artificial intelligence. Headquartered in Singapore, Bitdeer has deployed datacenters in the United States, Norway, and Bhutan. To learn more, visit https://ir.bitdeer.com/ or follow Bitdeer on X @ BitdeerOfficial and LinkedIn @ Bitdeer Group.

Investors and others should note that Bitdeer may announce material information using its website and/or on its accounts on social media platforms, including X, formerly known as Twitter, Facebook, and LinkedIn. Therefore, Bitdeer encourages investors and others to review the information it posts on the social media and other communication channels listed on its website.

Forward-Looking Statements

Statements in this press release about future expectations, plans, and prospects, as well as any other statements regarding matters that are not historical facts, may constitute “forward-looking statements” within the meaning of The Private Securities Litigation Reform Act of 1995. The words “anticipate,” “look forward to,” “believe,” “continue,” “could,” “estimate,” “expect,” “intend,” “may,” “plan,” “potential,” “predict,” “project,” “should,” “target,” “will,” “would” and similar expressions are intended to identify forward-looking statements, although not all forward-looking statements contain these identifying words. Actual results may differ materially from those indicated by such forward-looking statements as a result of various important factors, including factors discussed in the section entitled “Risk Factors” in Bitdeer’s annual report on Form 20-F, as well as discussions of potential risks, uncertainties, and other important factors in Bitdeer’s subsequent filings with the U.S. Securities and Exchange Commission. Any forward-looking statements contained in this press release speak only as of the date hereof. Bitdeer specifically disclaims any obligation to update any forward-looking statement, whether due to new information, future events, or otherwise. Readers should not rely upon the information on this page as current or accurate after its publication date.

For investor and media inquiries, please contact:

Investor Relations
Orange Group
Yujia Zhai
bitdeerIR@orangegroupadvisors.com

Public Relations
BlocksBridge Consulting
Nishant Sharma
bitdeer@blocksbridge.com

The MIL Network –

February 13, 2025

MIL-OSI Asia-Pac: India takes part in the 63rd session of the Commission for Social Development at New York

Source: Government of India

India takes part in the 63rd session of the Commission for Social Development at New York

Smt. Savitri Thakur , Minister of State for Women and Child Development delivers India’s statement at the Ministerial Forum, addressing the priority theme: “Strengthening Solidarity and Social Cohesion”

India has embraced “Women-led development,” ensuring women are key players in shaping the development trajectory : Smt.Thakur

India has launched large-scale programs to bridge the gender digital divide, promoting digital and financial literacy, especially in rural areas empowering millions of women entrepreneurs

Posted On: 12 FEB 2025 9:25AM by PIB Delhi

India took part in the 63^rdsession of the Commission for Social Development (CSoCD), held from February 10 to 14, 2025 at New York ,USA . This participation was led by Smt. Savitri Thakur, the Minister of State for the Ministry of Women and Child Development, Government of India (GoI). This session aimed to encourage discussions and collaborations on pressing social development challenges, with an emphasis on advancing inclusive social policies and fostering global social well-being. The session witnessed the participation from 49 Countries including Ministers from 16 countries like France, Türkiye, Saudi Arabia, Sweden, etc.

India’s involvement includes active participation in key discussions. On Tuesday, February 11, 2025, Smt. Savitri Thakur delivered India’s statement at the Ministerial Forum, addressing the priority theme: “Strengthening Solidarity and Social Cohesion.”

India expressed its appreciation to the Commission for its leadership in discussing the importance of strengthening solidarity and social cohesion to ensure no one is left behind. Since the 1995 Copenhagen Summit on Social Development, India has made significant progress in addressing poverty, malnutrition, and universal healthcare, while also pioneering digital public infrastructure for sustainable development. By aligning with global best practices and developing indigenous solutions, India has become a model for the Global South.

While addressing the Session, the Minister highlighted that India is driven by the vision of “Sabka Saath, Sabka Vikas, Sabka Vishwas” (Development for All), with a focus on inclusivity. Through initiatives like the JAM TRINITY (Jan Dhan, Aadhar, Mobile), India has achieved financial inclusion for disadvantaged communities, especially women, persons with disabilities, and the elderly. The country has also embraced “Women-led development,” ensuring women are key players in shaping the development trajectory.

She said that India has launched large-scale programs to bridge the gender digital divide, promoting digital and financial literacy, especially in rural areas. This has empowered millions of women entrepreneurs, from start-ups to scalable businesses.

As India works toward accelerating progress on the 2030 Agenda for development, increasing women’s workforce participation is a key priority. India’s robust social protection model includes 26 weeks of paid maternity leave, maternity benefits for 37.5 million mothers, a network of One Stop Centres, and an integrated National Women’s Helpline. Additionally, India’s early childhood care, nutrition, and education initiatives benefit over 100 million children, mothers, and adolescent girls.

#IndiaAtUN

Hon’ble MoS Smt. Savitri Thakur @savitrii4bjp delivered India’s national statement at the 63rd CSoc-D session.

Highlighted the success achieved by India in social development, poverty eradication and access to healthcare through leveraging technology, initiative of… pic.twitter.com/69x1B7rFcl

— India at UN, NY (@IndiaUNNewYork) February 11, 2025

India supported the resolution on the priority theme and is progressing with the concept of saturation in social protection to ensure the delivery of essential services to the poorest populations, addressing multidimensional poverty.

India’s rights-based approach to universal health coverage, including reproductive health, and the provision of clean cooking fuel, safe drinking water, sanitation, and affordable housing has transformed the lives of women and marginalized communities. Over 40 million homes have been built for the poor, with women as either sole or joint owners.

Nearly 100 million women have been linked with self-help groups (SHGs), contributing to economic transformation and grassroots leadership.

In conclusion, India is fully committed to accelerating global progress and supporting the Commission’s efforts toward a just world for all.

****

SS/MS

(Release ID: 2102077) Visitor Counter : 67

MIL OSI Asia Pacific News –

February 13, 2025
MIL-OSI Europe: Slovenian businesses among EU’s climate-action leaders, EIB Investment survey shows
Source: European Investment Bank
- Almost all companies in Slovenia – 97% – have taken steps to cut emissions, according to annual survey commissioned by EIB.
- Share of Slovenian businesses moving to reduce carbon footprint is second highest in EU.
- Slovenian firms also have done more than most in EU in embracing digital technologies.
Nearly all Slovenian companies – 97% – have taken steps to reduce greenhouse gas emissions, the second-highest share in Europe behind only Finland, according to a European Investment Bank (EIB) Group survey. In addition, four in five Slovenian businesses have embraced advanced digital technologies compared with a European Union average of 74%, new country results from the EIB Group Investment Survey (EIBIS) show.

EIBIS is an annual report based on polling of approximately 13,000 firms in all EU Member States plus a sample from the United States. Its main results were released in October 2024, showing that EU businesses lead the way in investments in climate mitigation and adaptation.

The detailed reports for individual EU countries were published today. Key takeaways for Slovenia include:
- The share of Slovenian companies that have moved to reduce greenhouse gas emissions trails only Finland’s 99% in the EU, where the average is 91%.
- Slovenian businesses are more likely than counterparts elsewhere in the EU to invest in less-polluting technologies and sustainable practices.
- Slovenian firms are more likely than EU firms to have adopted automation via robotics, Internet of Things and big data/AI.
- Green strategies by firms in Slovenia include saving energy, curbing waste and recycling.
- Regarding investment barriers, Slovenian companies express concerns about political, regulatory and economic factors and an insufficiency of skilled staff is the most common obstacle cited.
“Slovenian firms are leading the way in green and digital investments, showing strong commitment to sustainability and innovation,” said EIB Vice-President Kyriacos Kakouris. “However, challenges such as regulatory uncertainty and workforce availability must be addressed to unlock further growth. The EIB Group is committed to continue supporting Slovenian businesses to overcome these challenges and boost their competitiveness.”

The full country report about Slovenia is available here.

Survey results feed into the annual Investment Report, the flagship publication of the EIB Group’s Economics Department, gauging the investment outlook for Europe’s economy. The next Investment Report will be released on 5 March 2025 during the annual EIB Group Forum in Luxembourg.

The annual Forum brings together key stakeholders from the government, business and finance domains to exchange views on investment priorities that support Europe’s policies, including industrial decarbonisation, artificial intelligence, the Capital Markets Union, security, housing and EU enlargement. The theme of this year’s event is Investing in a more sustainable and secure Europe.

Background information

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

The EIB Group, which also includes the European Investment Fund (EIF), signed nearly €89 billion in new financing for over 900 high -impact projects in 2024, boosting Europe’s competitiveness and security.   
MIL OSI Europe News –
February 13, 2025
MIL-OSI Europe: Commission decides to refer BULGARIA, SPAIN, HUNGARY, NETHERLANDS, AUSTRIA, PORTUGAL and FINLAND to the Court of Justice of the European Union for failing to transpose the Directive on Non-Performing Loans

Source: European Commission

European Commission Press release Brussels, 12 Feb 2025 Today, the European Commission decided to refer Bulgaria, Spain, Hungary, Netherlands, Austria, Portugal and Finland to the Court of Justice of the European Union for failing to transpose the Directive on Non-Performing Loans (Directive(EU) 2021/2167).

MIL OSI Europe News –

February 13, 2025
MIL-OSI Europe: Highlights – SANT Exchange of views with the Polish Council Presidency – Committee on Public Health

Source: European Parliament

On 20 February, Members of the SANT Committee will hold an exchange of views with Izabela Leszczyna, Minister of Health, on the priorities of the Polish Presidency of the Council of the European Union in the field of public health.

On 1 January, Poland started its presidency of the Council of the European Union. Ms Izabela Leszczyna, Polish Minister of Health, will present the priorities of the Polish Presidency in the field of public health, as well as the plans for the work of the Council during the coming months.

Denmark will take over from Poland on 1 July 2025 and will hold the Presidency of the Council of the European Union until 31 December 2025.

MIL OSI Europe News –

February 13, 2025
MIL-OSI Canada: Statement on Inclusive and Sustainable Artificial Intelligence for People and the Planet
Source: Government of Canada – Prime Minister
1. Participants from over 100 countries, including government leaders, international organisations, representatives of civil society, the private sector, and the academic and research communities gathered in Paris on February 10 and 11, 2025, to hold the AI Action Summit. Rapid development of AI technologies represents a major paradigm shift, impacting our citizens, and societies in many ways. In line with the Paris Pact for People and the Planet, and the principles that countries must have ownership of their transition strategies, we have identified priorities and launched concrete actions to advance the public interest and to bridge digital divides through accelerating progress towards the Sustainable Development Goals (SDGs). Our actions are grounded in three main principles of science, solutions – focusing on open AI models in compliance with countries frameworks – and policy standards, in line with international frameworks.
2. This Summit has highlighted the importance of reinforcing the diversity of the AI ecosystem. It has laid an open, multi-stakeholder and inclusive approach that will enable AI to be human rights based, human-centric, ethical, safe, secure and trustworthy while also stressing the need and urgency to narrow the inequalities and assist developing countries in artificial intelligence capacity-building so they can build AI capacities.
3. Acknowledging existing multilateral initiatives on AI, including the United Nations General Assembly Resolutions, the Global Digital Compact, the UNESCO Recommendation on Ethics of AI, the African Union Continental AI Strategy, and the works of the Organization for Economic Cooperation and Development (OECD), the Council of Europe and European Union, the G7 including the Hiroshima AI Process and G20, we have affirmed the following main priorities:
- Promoting AI accessibility to reduce digital divides
- Ensuring AI is open, inclusive, transparent, ethical, safe, secure and trustworthy, taking into account international frameworks for all
- Making innovation in AI thrive by enabling conditions for its development and avoiding market concentration driving industrial recovery and development
- Encouraging AI deployment that positively shapes the future of work and labour markets and delivers opportunity for sustainable growth
- Making AI sustainable for people and the planet
- Reinforcing international cooperation to promote coordination in international governance
To deliver on these priorities:
- Founding members have launched a major Public Interest AI Platform and Incubator, to support, amplify, decrease fragmentation between existing public and private initiatives on Public Interest AI and address digital divides. The Public interest AI Initiative will sustain and support digital public goods and technical assistance and capacity building projects in data, model development, openness and transparency, audit, compute, talent, financing and collaboration to support and co-create a trustworthy AI ecosystem advancing the public interest of all, for all and by all.
- We have discussed, at a Summit for the first time and in a multi-stakeholder format, issues related to AI and energy. This discussion has led to sharing knowledge to foster investments for sustainable AI systems (hardware, infrastructure, models), to promoting an international discussion on AI and environment, to welcoming an observatory on the energy impact of AI with the International Energy Agency, to showcasing energy-friendly AI innovation.
- We recognize the need to enhance our shared knowledge on the impacts of AI in the job market, though the creation of network of Observatories, to better anticipate AI implications for workplaces, training and education and to use AI to foster productivity, skill development, quality and working conditions and social dialogue.
1. We recognize the need for inclusive multistakeholder dialogues and cooperation on AI governance. We underline the need for a global reflection integrating inter alia questions of safety, sustainable development, innovation, respect of international laws including humanitarian law and human rights law and the protection of human rights, gender equality, linguistic diversity, protection of consumers and of intellectual property rights. We take notes of efforts and discussions related to international fora where AI governance is examined. As outlined in the Global Digital Compact adopted by the UN General Assembly, participants also reaffirmed their commitment to initiate a Global Dialogue on AI governance and the Independent International Scientific Panel on AI and to align on-going governance efforts, ensuring complementarity and avoiding duplication.
2. Harnessing the benefits of AI technologies to support our economies and societies depends on advancing Trust and Safety. We commend the role of the Bletchley Park AI Safety Summit and Seoul Summits that have been essential in progressing international cooperation on AI safety and we note the voluntary commitments launched there. We will keep addressing the risks of AI to information integrity and continue the work on AI transparency.
3. We look forward to next AI milestones such as the Kigali Summit, the 3rd Global Forum on the Ethics of AI hosted by Thailand and UNESCO, the 2025 World AI Conference and the AI for Good Global Summit 2025 to follow up on our commitments and continue to take concrete actions aligned with a sustainable and inclusive AI.
Signatory countries:
1. Armenia
2. Australia
3. Austria
4. Belgium
5. Brazil
6. Bulgaria
7. Cambodia
8. Canada
9. Chile
10. China
11. Croatia
12. Cyprus
13. Czechia
14. Denmark
15. Djibouti
16. Estonia
17. Finland
18. France
19. Germany
20. Greece
21. Hungary
22. India
23. Indonesia
24. Ireland
25. Italy
26. Japan
27. Kazakhstan
28. Kenya
29. Latvia
30. Lithuania
31. Luxembourg
32. Malta
33. Mexico
34. Monaco
35. Morocco
36. New Zealand
37. Nigeria
38. Norway
39. Poland
40. Portugal
41. Romania
42. Rwanda
43. Senegal
44. Serbia
45. Singapore
46. Slovakia
47. Slovenia
48. South Africa
49. Republic of Korea
50. Spain
51. Sweden
52. Switzerland
53. Thailand
54. Netherlands
55. United Arab Emirates
56. Ukraine
57. Uruguay
58. Vatican
59. European Union
60. African Union Commission
MIL OSI Canada News –
February 13, 2025
MIL-OSI Video: UK Lord McDonald of Salford: Lord Speaker’s Corner | House of Lords | Episode 26

Source: United Kingdom UK House of Lords (video statements)

Former top diplomat Simon McDonald, Lord McDonald of Salford, is the latest guest on Lord Speaker’s Corner.

Lord McDonald shares his views on a range of current international issues from President Trump and Greenland to the Chagos Islands and British soft power, plus changes to the global approach of the USA, China and Russia:

‘For most of my career, the reasons why the institutions of the late 1940s were fraying were because Russia and then China were not particularly happy with that post Second World War settlement. The surprise in recent years is the United States being a revisionist power, not liking the bill paid by the United States to underpin that settlement.’

Lord McDonald was previously Head of the Diplomatic Service, the most senior civil servant in the Foreign and Commonwealth Office and has served as Ambassador to Israel and to Germany. In this episode, he speaks to Lord McFall about what drew him to public service both in the Foreign Office and the House of Lords:

‘I think British public service is part of what defines our country and helps us through crisis. And I think it is a fact that in this House there are a group of people who are here to help, to help other people, not to help themselves. They are here to bring their expertise to bear. They’re here to listen to other people. They are here to gather evidence before they make up their minds. And I think those are solid attributes of public service.’

Lord McDonald also talks about the role of the Civil Service and ministers, plus the challenges of planning for successive governments:

‘One reason why our projects across the board are worse than, say, similar projects in Japan or China or even France, is our planning regime, that every single road, bridge, railway has to go through a very protracted planning legal procedure. Every government I’ve worked for identified our planning laws as an obstacle, and every government so far has failed really to grip it. I note that the new Labour government is gearing up to attempt. I hope they succeed. But I note that every previous effort has failed.’

See more from the series https://www.parliament.uk/business/lords/house-of-lords-podcast/

#HouseOfLords #UKParliament #LordSpeakersCorner #LordsMembers

https://www.youtube.com/watch?v=QsRiM-UeKM0

MIL OSI Video –

February 12, 2025
MIL-Evening Report: Chris Hedges: The US empire self-destructs

Report by Dr David Robie – Café Pacific. –

The United States shares the pathologies of all dying empires with their mixture of buffoonery, rampant corruption, military fiascos, economic collapse and savage state repression.

ANALYSIS: By Chris Hedges

The billionaires, Christian fascists, grifters, psychopaths, imbeciles, narcissists and deviants who have seized control of Congress, the White House and the courts, are cannibalising the machinery of state. These self-inflicted wounds, characteristic of all late empires, will cripple and destroy the tentacles of power. And then, like a house of cards, the empire will collapse.

Blinded by hubris, unable to fathom the empire’s diminishing power, the mandarins in the Trump administration have retreated into a fantasy world where hard and unpleasant facts no longer intrude. They sputter incoherent absurdities while they usurp the Constitution and replace diplomacy, multilateralism and politics with threats and loyalty oaths.

Agencies and departments, created and funded by acts of Congress, are going up in smoke.

The rulers of all late empires, including the Roman emperors Caligula and Nero or Charles I, the last Habsburg ruler, are as incoherent as the Mad Hatter, uttering nonsensical remarks, posing unanswerable riddles and reciting word salads of inanities. They, like Donald Trump, are a reflection of the moral, intellectual and physical rot that plague a diseased society. Cartoon: Mr Fish/The Chris Hedges Report

They are removing government reports and data on climate change and withdrawing
from the Paris Climate Agreement,. They are pulling out of the World Health Organisation.

They are sanctioning officials who work at the International Criminal Court — which issued arrest warrants for Israeli Prime Minister Benjamin Netanyahu and former defence minister Yoav Gallant over war crimes in Gaza.

They suggested Canada become the 51st state. They have formed a task force to “eradicate anti-Christian bias.” They call for the annexation of Greenland and the seizure of the Panama Canal.

They propose the construction of luxury resorts on the coast of a depopulated Gaza under US control which, if it takes place, would bring down the Arab regimes propped up by the US.

Uttering nonsensical remarks
The rulers of all late empires, including the Roman emperors Caligula and Nero or Charles I, the last Habsburg ruler, are as incoherent as the Mad Hatter, uttering nonsensical remarks, posing unanswerable riddles and reciting word salads of inanities. They, like Donald Trump, are a reflection of the moral, intellectual and physical rot that plague a diseased society.

I spent two years researching and writing about the warped ideologues of those who have now seized power in my book American Fascists: The Christian Right and the War on America. Read it while you still can. Seriously.

These Christian fascists, who define the core ideology of the Trump administration, are unapologetic about their hatred for pluralistic, secular democracies. They seek, as they exhaustively detail in numerous “Christian” books and documents such as the Heritage Foundation’s Project 2025, to deform the judiciary and legislative branches of government, along with the media and academia, into appendages to a “Christianised” state led by a divinely anointed leader.

They openly admire Nazi apologists such as Rousas John Rushdoony, a supporter of eugenics who argues that education and social welfare should be handed over to the churches and Biblical law must replace the secular legal code, and Nazi party theorists such as Carl Schmitt.

They are avowed racists, misogynists and homophobes. They embrace bizarre conspiracy theories from the white replacement theory to a shadowy monster they call “the woke.” Suffice it to say, they are not grounded in a reality based universe.

Christian fascists come out of a theocratic sect called Dominionism. This sect teaches that American Christians have been mandated to make America a Christian state and an agent of God. Political and intellectual opponents of this militant Biblicalism are condemned as agents of Satan.

“Under Christian dominion, America will no longer be a sinful and fallen nation but one in which the 10 Commandments form the basis of our legal system, creationism and ‘Christian values’ form the basis of our educational system, and the media and the government proclaim the Good News to one and all,” I noted in my book.

“Labour unions, civil-rights laws and public schools will be abolished. Women will be removed from the workforce to stay at home, and all those deemed insufficiently Christian will be denied citizenship. Aside from its proselytising mandate, the federal government will be reduced to the protection of property rights and ‘homeland’ security.”

[embedded content]
Chris Hedges talks to Marc Lamont Hill on Up Front on why “democracy doesn’t exist in the United States” today. Video: Al Jazeera

Comforting to most Americans
The Christian fascists and their billionaire funders, I noted, “speak in terms and phrases that are familiar and comforting to most Americans, but they no longer use words to mean what they meant in the past.”

They commit logocide, killing old definitions and replacing them with new ones. Words — including truth, wisdom, death, liberty, life and love — are deconstructed and assigned diametrically opposed meanings.Life and death, for example, mean life in Christ or death to Christ, a signal of belief of unbelief. Wisdom refers to the level of commitment and obedience to the doctrine.

Liberty is not about freedom, but the liberty that comes from following Jesus Christ and being liberated from the dictates of secularism. Love is twisted to mean an unquestioned obedience to those, such as Trump, who claim to speak and act for God.As the death spiral accelerates, phantom enemies, domestic and foreign, will be blamed for the demise, persecuted and slated for obliteration.

Once the wreckage is complete, ensuring the immiseration of the citizenry, a breakdown in public services and engendering an inchoate rage, only the blunt instrument of state violence will remain. A lot of people will suffer, especially as the climate crisis inflicts with greater and greater intensity its lethal retribution.

The near-collapse of our constitutional system of checks and balances took place long before the arrival of Trump. Trump’s return to power represents the death rattle of the Pax Americana. The day is not far off when, like the Roman Senate in 27 BC, Congress will take its last significant vote and surrender power to a dictator. The Democratic Party, whose strategy seems to be to do nothing and hope Trump implodes, have already acquiesced to the inevitable.

The question is not whether we go down, but how many millions of innocents we will take with us. Given the industrial violence our empire wields, it could be a lot, especially if those in charge decide to reach for the nukes.

The dismantling of the US Agency for International Development (USAID) — Elon Musk claims is run by “a viper’s nest of radical-left marxists who hate America” — is an example of how these arsonists are clueless about how empires function.

Foreign aid is not benevolent. It is weaponised to maintain primacy over the United Nations and remove governments the empire deems hostile. Those nations in the UN and other multilateral organisations who vote the way the empire demands, who surrender their sovereignty to global corporations and the US military, receive assistance. Those who don’t do not.

Building infrastructure projects
When the US offered to build the airport in Haiti’s capital Port-au-Prince, investigative journalist Matt Kennard reports, it required that Haiti oppose Cuba’s admittance into the Organisation of American States, which it did.

Foreign aid builds infrastructure projects so corporations can operate global sweatshops and extract resources. It funds “democracy promotion” and “judicial reform” that thwart the aspirations of political leaders and governments that seek to remain independent from the grip of the empire.

USAID, for example, paid for a “political party reform project” that was designed
“as a counterweight” to the “radical” Movement Toward Socialism (Movimiento al Socialismo) and sought to prevent socialists like Evo Morales from being elected in Bolivia. It then funded organisations and initiatives, including training programmes so Bolivian youth could be taught the American business practices, once Morales assumed the presidency, to weaken his hold on power.

Kennard in his book, The Racket: A Rogue Reporter vs The American Empire, documents
how US institutions such as the National Endowment for Democracy, the World Bank, the International Monetary Fund, the Inter-American Development Bank, USAID and the Drug Enforcement Administration, work in tandem with the Pentagon and Central Intelligence Agency to subjugate and oppress the Global South.

Client states that receive aid must break unions, impose austerity measures, keep wages low and maintain puppet governments. The heavily funded aid programmes, designed to bring down Morales, eventually led the Bolivian president to throw USAID out of the country.

The lie peddled to the public is that this aid benefits both the needy overseas and us at home. But the inequality these programmes facilitate abroad replicates the inequality imposed domestically. The wealth extracted from the Global South is not equitably distributed. It ends up in the hands of the billionaire class, often stashed in overseas bank accounts to avoid taxation.

Our US tax dollars, meanwhile, disproportionately funds the military, which is the iron fist that sustains the system of exploitation. The 30 million Americans who were victims of mass layoffs and deindustrialisation lost their jobs to workers in sweatshops overseas. As Kennard notes, both home and abroad, it is a vast “transfer of wealth from the poor to the rich globally and domestically”.

Legitimises theft at home
“The same people that devise the myths about what we do abroad have also built up a similar ideological system that legitimises theft at home; theft from the poorest, by the richest,” he writes. “The poor and working people of Harlem have more in common with the poor and working people of Haiti than they do with their elites, but this has to be obscured for the racket to work.”

Foreign aid maintains sweatshops or “special economic zones” in countries such as Haiti, where workers toil for pennies an hour and often in unsafe conditions for global corporations.

“One of the facets of special economic zones, and one of the incentives for corporations in the US, is that special economic zones have even less regulations than the national state on how you can treat labour and taxes and customs,” Kennard told me in an interview.

“You open these sweatshops in the special economic zones. You pay the workers a pittance. You get all the resources out without having to pay customs or tax. The state in Mexico or Haiti or wherever it is, where they’re offshoring this production, doesn’t benefit at all. That’s by design. The coffers of the state are always the ones that never get increased. It’s the corporations that benefit.”

These same US institutions and mechanisms of control, Kennard writes in his book, were employed to sabotage the electoral campaign of Jeremy Corbyn, a fierce critic of the US empire, for prime minister in Britain.

The US disbursed nearly $72 billion in foreign aid in fiscal year 2023. It funded clean water initiatives, HIV/Aids treatments, energy security and anti-corruption work. In 2024, it provided 42 percent of all humanitarian aid tracked by the United Nations.

Humanitarian aid, often described as “soft power,” is designed to mask the theft of resources in the Global South by US corporations, the expansion of the footprint of the US military, the rigid control of foreign governments, the devastation caused by fossil fuel extraction, the systemic abuse of workers in global sweatshops and the poisoning of child labourers in places like the Congo, where they are used to mine lithium.

https://t.co/FLgNuVBwaT

— Chris Hedges (@ChrisLynnHedges) February 7, 2025

The demise of American power
I doubt Musk and his army of young minions in the Department of Government Efficiency (DOGE) — which isn’t an official department within the federal government — have any idea about how the organisations they are destroying work, why they exist or what it will mean for the demise of American power.

The seizure of government personnel records and classified material, the effort to terminate hundreds of millions of dollars worth of government contracts — mostly those which relate to Diversity, Equity and Inclusion (DEI), the offers of buyouts to “drain the swamp” including a buyout offer to the entire workforce of the Central Intelligence Agency — now temporarily blocked by a judge — the firing of 17 or 18 inspectors generals
and federal prosecutors, the halting of government funding and grants, sees them cannibalise the leviathan they worship.

They plan to dismantle the Environmental Protection Agency, the Department of Education
and the US Postal Service, part of the internal machinery of the empire. The more dysfunctional the state becomes, the more it creates a business opportunity for predatory corporations and private equity firms. These billionaires will make a fortune “harvesting” the remains of the empire. But they are ultimately slaying the beast that created American wealth and power.

Once the dollar is no longer the world’s reserve currency, something the dismantling of the empire guarantees, the US will be unable to pay for its huge deficits by selling Treasury bonds. The American economy will fall into a devastating depression. This will trigger a breakdown of civil society, soaring prices, especially for imported products, stagnant wages and high unemployment rates.

The funding of at least 750 overseas military bases and our bloated military will become impossible to sustain. The empire will instantly contract. It will become a shadow of itself. Hypernationalism, fueled by an inchoate rage and widespread despair, will morph into a hate-filled American fascism.

Relentless hunt for plunder, profit
“The demise of the United States as the preeminent global power could come far more quickly than anyone imagines,” the historian Alfred W. McCoy writes in his book In the Shadows of the American Century: The Rise and Decline of US Global Power:

Despite the aura of omnipotence empires often project, most are surprisingly fragile, lacking the inherent strength of even a modest nation-state. Indeed, a glance at their history should remind us that the greatest of them are susceptible to collapse from diverse causes, with fiscal pressures usually a prime factor. For the better part of two centuries, the security and prosperity of the homeland has been the main objective for most stable states, making foreign or imperial adventures an expendable option, usually allocated no more than 5 percent of the domestic budget. Without the financing that arises almost organically inside a sovereign nation, empires are famously predatory in their relentless hunt for plunder or profit — witness the Atlantic slave trade, Belgium’s rubber lust in the Congo, British India’s opium commerce, the Third Reich’s rape of Europe, or the Soviet exploitation of Eastern Europe.

When revenues shrink or collapse, McCoy points out, “empires become brittle.”

“So delicate is their ecology of power that, when things start to go truly wrong, empires regularly unravel with unholy speed: just a year for Portugal, two years for the Soviet Union, eight years for France, 11 years for the Ottomans, 17 for Great Britain, and, in all likelihood, just 27 years for the United States, counting from the crucial year 2003 [when the US invaded Iraq],” he writes.

The array of tools used for global dominance — wholesale surveillance, the evisceration of civil liberties, including due process, torture, militarised police, the massive prison system, militarised drones and satellites — will be employed against a restive and enraged population.

The devouring of the carcass of the empire to feed the outsized greed and egos of these scavengers presages a new dark age.

Chris Hedges is a Pulitzer Prize–winning author and journalist who was a foreign correspondent for 15 years for The New York Times. This article was first published on his Substack page. Republished from the Chris Hedges X page.

This article was first published on Café Pacific.

MIL OSI Analysis – EveningReport.nz –

February 12, 2025
MIL-OSI: Notice of the Annual General Meeting of WithSecure Corporation
Source: GlobeNewswire (MIL-OSI)

WithSecure Corporation, Stock Exchange Release, 12 February 2025, 10:00 EET

Notice of the Annual General Meeting of WithSecure Corporation

The shareholders of WithSecure Corporation are invited to the Annual General Meeting, which will be held on Tuesday, 18 March 2025 starting at 3:00 p.m. EET.

The meeting will be held as a hybrid meeting in accordance with chapter 5, section 16(2) of the Finnish Limited Liability Companies Act (624/2006, as amended, the ‘Companies Act’), so that shareholders may exercise their shareholder rights fully during the meeting either via remote connection or at the meeting venue at event venue Bysa in Clarion Hotel Helsinki at the address Tyynenmerenkatu 2, 00220 Helsinki. Shareholders may also exercise their voting rights by voting in advance.

The reception of persons who have registered for the meeting and the pre-meeting coffee service will commence at the meeting venue at 2:15 p.m. EET. The participants of the General Meeting are welcome to enjoy meeting refreshments before the meeting. Instructions concerning participation via remote connection are provided in section C. 2. of this notice and instructions concerning advance voting in section C. 3.

After the meeting, the participants of the General Meeting have the opportunity to participate in guided tours at the Museum of Malware Art and the new office premises, both of which are located at the Company headquarters at the address Välimerenkatu 1, 00180 Helsinki.

A. Matters on the agenda of the General Meeting

1. Opening of the meeting

2. Calling the meeting to order

3. Election of the person to scrutinise the minutes and to supervise the counting of votes

4. Recording the legality of the meeting

5. Recording the attendance at the meeting and adoption of the list of votes

6. Presentation of the annual accounts, the consolidated annual accounts, the report of the Board of Directors as well as the auditor’s report and the assurance report on sustainability reporting for the year 2024

The CEO will give a review of the year 2024 and tell about the Company’s prospects for the year 2025.

WithSecure Corporation’s annual review, including WithSecure Corporation’s annual accounts, consolidated annual accounts, report of the Board of Directors as well as the auditor’s report and the assurance report on sustainability reporting, shall be available on the Company’s website at www.withsecure.com/en/about-us/investor-relations/governance as of 12 February 2025.

7. Adoption of the annual accounts and the consolidated annual accounts

The Board of Directors proposes that the General Meeting adopts the annual accounts and the consolidated annual accounts for the financial year 1 January 2024–31 December 2024.

8. Resolution on the use of the loss shown on the balance sheet and the distribution of dividend

The Company’s dividend policy is to pay approximately half of its profits as dividends. Subject to circumstances, the Company may deviate from this policy. On 31 December 2024, WithSecure Corporation’s distributable funds totalled EUR 77.5 million of which the net result for the financial year was EUR -44.0 million. No material changes have taken place in the Company’s financial position after the end of the financial period.

The Board of Directors proposes that no dividend will be paid for 2024 due to the loss-making result of the year. The Company will focus on funding its growth and developing the business. The net loss for the year is retained in the shareholders’ equity.

9. Resolution on the discharge of the members of the Board of Directors and the CEO from liability

10. Consideration of the remuneration policy for governing bodies

The previous specified version of the remuneration policy has been considered and approved as an advisory resolution by the Annual General Meeting on 24 March 2021.

The remuneration policy for governing bodies shall be available on the Company’s website at www.withsecure.com/en/about-us/investor-relations/governance as of 12 February 2025 at the latest.

11. Consideration of the remuneration report for governing bodies

The remuneration report for governing bodies shall be available on the Company’s website at www.withsecure.com/en/about-us/investor-relations/governance on 12 February 2025 at the latest.

12. Resolution on the remuneration of the members of the Board of Directors

The Board of Directors proposes upon recommendation of the Personnel Committee that the annual remuneration of the Board of Directors shall remain unchanged and be paid as follows: EUR 80,000 for the Chairman of the Board of Directors, EUR 48,000 for the Committee Chairmen, EUR 38,000 for the members of the Board of Directors and EUR 12,667 for a member of the Board of Directors employed by the Company. Approximately 40% of the annual remuneration be paid as the Company’s shares acquired on the Board members’ behalf. The commission for acquiring the Company shares will be given immediately after the publication of the interim report for the period 1 January–31 March 2025. The Company will be responsible for the possible transaction costs and possible transfer tax levied in connection with purchase of the shares.

According to the proposal, the travel expenses and other costs of the members of the Board of Directors directly related to board work are paid in accordance with the Company’s compensation policy in force from time to time. Each member of the Board of Directors is paid a predetermined travel fee in addition to travel expenses for meetings held outside their country of residence in accordance with the Company’s travel policy in force from time to time. According to the travel policy, a separate travel fee of EUR 1,000 is paid to the members of the Board of Directors who travel from another European country to attend an on-site meeting. The travel fee is EUR 2,000 for intercontinental travel. No separate travel fee is paid to a member of the Board of Directors employed by the Company. In addition, the Chairman of the Board of Directors is offered assistant and administrative services.

13. Resolution on the number of members of the Board of Directors

The Board of Directors proposes upon recommendation of the Personnel Committee that the number of members of the Board of Directors be seven (7).

14. Election of members of the Board of Directors

The Board of Directors proposes upon recommendation of the Personnel Committee that Risto Siilasmaa, Amanda Bedborough, Niilo Fredrikson, Ciaran Martin, and Tuomas Syrjänen are to be re-elected as ordinary members of the Board of Directors and that Mervi Kerkelä-Hiltunen and Artturi Lehtiö, who is employed by WithSecure Corporation, are to be elected as new members of the Board of Directors. Of the current Board members, Harri Ruusinen and Kirsi Sormunen have stated that they will no longer be available as Board members.

The Board member candidates’ CVs and assessments of independence are available on the Company’s website at www.withsecure.com/en/about-us/investor-relations/governance.

15. Resolution on the remuneration of the auditor

The Board of Directors proposes upon recommendation of the Audit Committee that the remuneration to the auditor be paid in accordance with the approved invoice.

16. Election of the auditor

The Board of Directors proposes upon recommendation of the Audit Committee that audit firm PricewaterhouseCoopers Oy be re-elected as auditor of the Company. PricewaterhouseCoopers Oy has stated that Mr Jukka Karinen, APA, will act as the responsible auditor.

17. Resolution on the remuneration of the authorised sustainability auditor

The Board of Directors proposes upon recommendation of the Audit Committee that the remuneration of the authorised sustainability auditor be paid in accordance with the approved invoice.

18. Election of the authorised sustainability auditor

The Board of Directors proposes upon recommendation of the Audit Committee that PricewaterhouseCoopers Oy be elected as the Company’s authorised sustainability auditor. PricewaterhouseCoopers Oy has stated that Mr Jukka Karinen, ASA, will act as the responsible authorised sustainability auditor.

19. Authorising the Board of Directors to resolve on the repurchase of the Company’s own shares

The Board of Directors proposes that the General Meeting authorise the Board of Directors to resolve upon the repurchase of a maximum of 17,609,870 of the Company’s own shares in total. The proposed maximum amount equals to approximately 10% of all the shares in the Company, in one or several tranches with the Company’s unrestricted equity.

The authorisation entitles the Board of Directors to resolve on the repurchase also in deviation from the proportional holdings of the shareholders (directed repurchase). The authorisation comprises the repurchase of shares either in the public trading or otherwise in the market at the trading price determined for the shares in public trading on the date of purchase, or with a purchase offer to the shareholders, in which case the repurchase price must be the same for all shareholders. The Company’s own shares shall be repurchased to be used for carrying out acquisitions or implementing other arrangements related to the Company’s business or for optimising the Company’s capital structure, to be used as part of the implementation of the Company’s incentive scheme or otherwise to be transferred further or cancelled. The authorisation includes the right of the Board of Directors to resolve on all other terms related to the repurchase of the Company’s own shares.

The Board of Directors proposes that the authorisation be valid until the conclusion of the next Annual General Meeting, in any case no later than until 30 June 2026. The Board of Directors proposes that this authorisation terminate the authorisation given to the Board of Directors by the Annual General Meeting of 20 March 2024 concerning the repurchase of the Company’s own shares.

20. Authorising the Board of Directors to resolve on the issuance of shares as well as the issuance of options and other special rights entitling to shares

The Board of Directors proposes that the General Meeting authorise the Board of Directors to resolve on the issuance of a maximum of 17,609,870 shares in total through a share issue as well as by issuing options and other special rights entitling to shares pursuant to chapter 10, section 1 of the Companies Act in one or several tranches. The proposed maximum number of the shares corresponds to approximately 10% of all shares in the Company. The authorisation concerns both the issuance of new shares and the transfer of treasury shares held by the Company.

The authorisation entitles the Board of Directors to resolve on all terms related to the share issue as well as the issuance of options and other special rights entitling to shares. The issuance of shares may be carried out in deviation from the shareholders’ pre-emptive subscription right (directed issue). The authorisation may be used for potential acquisitions or other arrangements, for share-based incentive schemes or otherwise for purposes resolved by the Board of Directors. Of the authorisation, a maximum of 2,000,000 shares may be used as part of the above-mentioned share-based incentive schemes, which corresponds to approximately 1% of all shares in the Company.

The Board of Directors proposes that the authorisation be valid until the conclusion of the next Annual General Meeting, in any case no later than until 30 June 2026. The Board of Directors proposes that this authorisation terminate the authorisation given to the Board of Directors by the Annual General Meeting of 20 March 2024 concerning the issuance of shares as well as the issuance of options and other special rights entitling to shares.

21. Closing of the meeting

B. Documents of the General Meeting

The resolution proposals for the matters on the agenda of the General Meeting mentioned above and this notice are available on WithSecure Corporation’s website at www.withsecure.com/en/about-us/investor-relations/governance. WithSecure Corporation’s annual review including the Company’s annual accounts, consolidated annual accounts, the report of the Board of Directors as well as the auditor’s report and the assurance report on sustainability reporting, as well as the remuneration policy and remuneration report for WithSecure Corporation’s governing bodies are available on said website 12 February 2025 at the latest. The resolution proposals and other documents mentioned above will also be made available at the General Meeting.

The minutes of the General Meeting will be available on the above-mentioned website at the latest on 1 April 2025.

C. Instructions for the participants in the General Meeting

1. Shareholders registered in the shareholders’ register

Each shareholder who is registered on 6 March 2025, the record date of the General Meeting, in the shareholders’ register of the Company held by Euroclear Finland Oy, has the right to participate in the General Meeting. A shareholder whose shares are registered on the shareholder’s Finnish book-entry account is registered in the shareholders’ register of the Company.

Changes in shareholding after the record date of the General Meeting do not affect the right to participate in the General Meeting or the number of voting rights.

Registration for the General Meeting begins on 13 February 2025 at 10:00 a.m. EET. A shareholder whose shares are registered on the shareholder’s Finnish book-entry account and who wishes to participate in the meeting must register for the meeting at the latest on 11 March 2025 at 4:00 p.m. EET, by which time the notice of participation must be received by the Company. Shareholders can register for the meeting by one of the following means:
1. Online through the Company’s website at www.withsecure.com/en/about-us/investor-relations/governance. Online registration requires strong electronic identification from the shareholder or the shareholder’s statutory representative or proxy representative using Finnish, Swedish or Danish online banking credentials or a mobile certificate.
2. By email to the address agm@innovatics.fi or by mail to the address Innovatics Ltd, General Meeting/WithSecure Corporation, Ratamestarinkatu 13 A, 00520 Helsinki. The registering shareholder must include in the registration the registration form and advance voting form available on the Company’s website www.withsecure.com/en/about-us/investor-relations/governance or equivalent information.
The requested information, such as the shareholder’s name, date of birth or business ID, contact information as well as the name of the shareholder’s possible assistant and/or proxy representative and date of birth of proxy representative as well as telephone number and/or email address of proxy representative must be provided in connection with the registration. The personal data disclosed by the shareholders to WithSecure Corporation or Innovatics Ltd will only be used in connection with the General Meeting and the processing of related necessary registrations.

It must also be stated in connection with the registration whether the shareholder or the shareholder’s proxy representative will participate in the General Meeting at the meeting venue or via remote connection. Instructions concerning remote participation are provided in section C. 2. of these instructions.

Upon request, shareholders, their representatives, or proxy representatives must be able to prove their identity and/or right of representation at the meeting venue.

Additional information on registration, remote participation and advance voting is available by telephone at +358 10 2818 909 during the registration period of the General Meeting between 9:00 a.m. and 12:00 p.m. EET and between 1:00 p.m. and 4:00 p.m. EET on weekdays.

2. Remote participation in the meeting

Shareholders who have the right to participate in the General Meeting may participate in the meeting and exercise their shareholder rights fully during the meeting either at the meeting venue or via remote connection.

A notice given by shareholders or proxy representatives that they will participate in the General Meeting via remote connection is binding, and after the end of the registration period the shareholders or proxy representatives do not have the right to change their means of participation or participate in the meeting at the meeting venue. However, a notice of participation via remote connection given by a shareholder’s proxy representative does not limit the right of the shareholder’s other proxy representatives to participate in the meeting at the meeting venue.

The remote connection to the General Meeting will be implemented through Inderes Oyj’s virtual AGM service using the Videosync platform, which includes video and audio access to the General Meeting. Using the remote connection does not require software or downloads subject to a charge. In addition to an internet connection, participation requires a computer, smartphone or tablet with speakers or headphones for audio playback as well as a microphone for oral questions and comments. The following browsers are recommended for remote participation: Chrome, Firefox, Edge, Safari, or Opera. Shareholders are responsible for their internet connections and devices during the meeting. In order to prepare for technical failures, it is recommended that shareholders who participate in the meeting remotely vote in advance.

The participation link and password for remote participation will be sent by email and/or SMS to the email address and/or mobile phone number provided in connection with the registration by the day before the meeting, 17 March 2025 at the latest. It is recommended to log in to the meeting system in good time before the meeting starts.

For more information on the AGM service, additional instructions for proxy holders representing more than one shareholder, contact details and instructions of the service provider in case of possible disruptions, please visit https://vagm.fi/support and a link to test the compatibility of your computer, smartphone or tablet with the internet connection can be found at https://b2b.inderes.com/fi/knowledge-base/yhteensopivuuden-testaaminen. It is recommended to consult the detailed attendance instructions before the start of the General Meeting.

3. Advance voting

A shareholder whose shares are registered on the shareholder’s Finnish book-entry account can vote in advance on certain matters on the agenda between 13 February 2025 at 10:00 a.m. EET and 11 March 2025 at 4:00 p.m. EET in the following ways:
1. Online through the service available on the Company’s website at www.withsecure.com/en/about-us/investor-relations/governance. Shareholders can sign into the advance voting service the same way as to the online registration service referred to above in section C. 1. a) of these instructions.
2. By email or mail by sending the advance voting form available on the Company’s website at www.withsecure.com/en/about-us/investor-relations/governance or corresponding information to Innovatics Ltd, by email to the address agm@innovatics.fi or by mail to the address Innovatics Ltd, General Meeting/WithSecure Corporation, Ratamestarinkatu 13 A, 00520 Helsinki. Advance votes must be received before the advance voting period ends.
A proposed resolution that is subject to advance voting is considered to be presented unchanged in the General Meeting, and the advance votes are taken into account in a vote at the real-time General Meeting also in circumstances where an alternative resolution has been proposed concerning the matter. Taking the votes into account requires that the shareholders who voted in advance are registered in the Company’s shareholders’ register maintained by Euroclear Finland Oy on the record date of the General Meeting. Sending the votes in advance by mail or email so that they are received before the end of the time limit of the registration and advance voting period constitutes registration for the General Meeting, provided that the shareholder’s notice of participation includes the above information required for registration. Unless shareholders voting in advance participate at the General Meeting at the meeting venue in person or by way of proxy representation or participate in the General Meeting via remote connection, they will not be able to use their rights under the Companies Act to request information or a vote.

Holders of nominee registered shares can vote in advance through their account operators. Account operators can vote in advance on behalf of the holders of nominee registered shares they represent in accordance with the shareholders’ voting instructions during the registration period applicable to holders of nominee registered shares.

4. Holder of nominee registered shares

A holder of nominee registered shares has the right to participate in the Annual General Meeting by virtue of such shares, based on which the holder of nominee registered shares on the record date of the General Meeting, 6 March 2025, would be entitled to be registered in the shareholders’ register of the Company held by Euroclear Finland Oy. In addition, the right to participate requires that the holder of nominee registered shares be temporarily entered into the shareholders’ register held by Euroclear Finland Oy based on these shares at the latest by 13 March 2025 at 10:00 a.m. EET. As regards nominee registered shares, this constitutes due registration for the General Meeting. Changes in shareholding after the record date of the General Meeting do not affect the right to participate in the General Meeting or the number of voting rights.

A holder of nominee registered shares is advised to request in good time the necessary instructions regarding the temporary registration in the shareholders’ register of the Company, the issuing of proxy documents and voting instructions, registration for the General Meeting, and advance voting from such shareholder’s custodian bank. The account management organisation of the custodian bank shall temporarily register a holder of nominee registered shares who wishes to participate in the General Meeting into the shareholders’ register of the Company at the latest by the time stated above. When necessary, the account management organisation of the custodian bank shall also arrange advance voting on behalf of the holder of nominee registered shares before the end of the registration period applicable to holders of nominee registered shares.

A holder of nominee registered shares who has registered for the General Meeting may participate in the General Meeting at the meeting venue or via remote connection. Remote participation requires temporary entry into the shareholders’ register held by Euroclear Finland Oy and submission of an email address and telephone number of the holder of nominee registered shares by email to the address agm@innovatics.fi by mail to the address Innovatics Ltd, General Meeting/WithSecure Corporation, Ratamestarinkatu 13 A, 00520 Helsinki before the registration period applicable to holders of nominee registered shares ends so that an attendance link and password can be sent to the holder of nominee registered shares for participating in the General Meeting remotely.

5. Proxy representative and powers of attorney

A shareholder may participate in the General Meeting and exercise the shareholder rights at the meeting by way of proxy representation. The proxy representative may also vote in advance in the manner instructed in section C. 3. of these instructions.

The proxy representative shall produce a dated proxy document or power of attorney or otherwise in a reliable manner demonstrate such representative’s right to represent the shareholder at the General Meeting. If a shareholder participates in the General Meeting by means of several proxy representatives representing the shareholder with shares in different book-entry accounts, the shares by which each proxy representative represents the shareholder shall be identified in connection with the registration for the General Meeting.

A proxy template is available on the Company’s website at www.withsecure.com/en/about-us/investor-relations/governance.

Possible proxy documents are to be delivered primarily as an attachment in connection with the electronic registration, or alternatively by email to Innovatics Ltd to the address agm@innovatics.fi or by mail to the address Innovatics Ltd, General Meeting/WithSecure Corporation, Ratamestarinkatu 13 A, 00520 Helsinki before the end of the registration period, by which time the proxy documents must be received. WithSecure Corporation may, if it so wishes, demand original proxy documents if regarded necessary by the Company.

In addition to submitting a proxy document, shareholders or their proxy representatives shall ensure that they register for the General Meeting in the manner described above in section C. 1. of these instructions.

If a proxy representative represents more than one shareholder at the General Meeting, it is recommended to vote in advance. Even if the proxy representative represents more than one shareholder at the General Meeting either at the meeting venue or via remote connection, only one attendance link and password will be provided to the proxy representative for all shareholders the proxy representative represents. The proxy representative will therefore not need to log into the service separately on behalf of each shareholder but shall ensure the exercise of shareholders’ rights by voting on behalf of each shareholder separately.

A shareholder may authorise a proxy representative by using the Suomi.fi e-authorisation service as an alternative to a traditional proxy document. The proxy representative is authorised via the Suomi.fi service at www.suomi.fi/e-authorizations (authorisation for ‘Representation at the General Meeting’). When registering for the General Meeting service, the proxy representative must identify themselves by using strong electronic identification, after which the proxy representative can register and vote in advance on behalf of the shareholder the proxy representative represents. Strong electronic identification requires a Finnish bank ID or mobile certificate. For more information on e-authorisation, please see www.suomi.fi/e-authorizations.

6. Other instructions and information

The language of the General Meeting is Finnish.

A shareholder present at the meeting has the right to ask questions referred to in chapter 5, section 25 of the Companies Act with respect to the matters to be considered at the General Meeting.

On the date of this notice, Wednesday, 12 February 2025, the total number of shares in WithSecure Corporation is 176,098,739 shares, which represent an equal number of votes. On the date of this notice, the Company holds 81,890 treasury shares. Treasury shares do not produce any rights in the Company and do therefore not entitle to participation in the General Meeting.

Helsinki, 12 February 2025

WITHSECURE CORPORATION
Board of Directors

Contact information:

Tiina Sarhimaa, Chief Legal Officer
WithSecure Corporation

Laura Viita
VP, Controlling, Investor relations and Sustainability
WithSecure Corporation
+358 50 487 1044
investor-relations@withsecure.com

The MIL Network –
February 12, 2025
MIL-OSI: JLT Mobile Computers AB (publ) publishes 2024 Year-end report
Source: GlobeNewswire (MIL-OSI)

Växjö, Sweden, 12 February 2025 * * * JLT Mobile Computers, a leading supplier of rugged computers for demanding environments, today publishes its Year-end report for the full year 2024.

Summary of key figures
- Order intake MSEK 103.0 (135.4)
- Net revenues MSEK 118.4 (158.8)
- EBITDA MSEK -2.1 (4.8)
- Depreciation and amortization of development expenses MSEK -8.1 (-2.5)
- Operating profit MSEK -9.7 (1.9)
- Profit after taxes MSEK -7.7 (1.6)
- Cashflow +6.8 (-21.5)
- No dividend is proposed (SEK 0.00)
In short
- Challenging macroeconomic and geopolitical conditions resulted in lower-than-normal demand for JLT products, a rough year for JLT as well as for many other industry colleagues where reports of layoffs and closures occurred.
- Order intake for the year amounted to MSEK 103 compared to MSEK 135 last year, and sales amounted to MSEK 118, a decrease from MSEK 159 last year.
- Starting to see a recovery in the market – several major deals booked in the US during the first quarter of 2025, of which one for a leading American food producer to a value of MSEK 22 plus service agreements (press release 2025-01-10). The total order intake in Q1 2025 so far exceeds MSEK 40.
- To create a more cost-effective and market-adapted structure that enables efficient management and customer-driven development of JLT’s software solutions, the operations of the subsidiary JLT Software Solutions AB have been discontinued (press release 2025-01-17). Capitalized development expenses in the company have been written down and, together with other discontinuation costs, impact the group’s results in the fourth quarter by MSEK 5.0, of which MSEK 1.2 affects cash flow. Software development, including the JLT Insights product, has been integrated with the group’s other product development.
- Development expenses related to Android have been written down by MSEK 1.7, as the product’s sales did not develop as expected.
- In 2024, organizational and R&D costs were reduced by MSEK 5.4, despite one-time costs of MSEK 1.2. EBITDA ended at MSEK -2.1, compared to MSEK 4.8 the previous year. For 2025, the mentioned measures are expected to provide additional savings of MSEK 1.5 and reduce amortization of development expenses to MSEK 0.5 compared to MSEK 8.1 for 2024.
- The core products in JLT’s VERSO and JLT1214™ series have been upgraded with new processors and new technology during the year to maintain JLT’s strong market position (press release 2024-06-13: VERSO and press release 2024-10-22: JLT1214).
- In October, a senior marketing manager with extensive industry experience was recruited to JLT’s American subsidiary to lead marketing and partner strategy in the USA (press release 2024-10-15).
- The organization in the French subsidiary, JLT France, has been expanded with a salesperson, and a planned generational shift in leadership has been carried out (press release 2024-10-01).
- As a result of strategic measures implemented during 2024, inventory was reduced by 6.9 MSEK. Cash flow was positively impacted, and JLT added 6.8 MSEK to its cash reserves. Inventory is expected to be gradually reduced further during 2025.
- 2024 marked an important milestone for JLT, celebrating 30 years as an innovator of rugged computer solutions (press release 2024-12-12). Since its inception in 1994, JLT has been part of the extensive transformation that the rugged IT solutions industry has undergone.
The full interim report is attached to this press release and available for download at the company’s website, jltmobile.com. Additional financial information is available online on JLT’s investor pages.

This information is information that JLT Mobile Computers AB (pub) is obliged to make public pursuant to the EU Market Abuse Regulation and the Securities Markets Act. The information was submitted for publication, through the agency of the contact persons set out below, at 08:00 pm CET on Wednesday, February 12, 2025.

About JLT Mobile Computers

JLT Mobile Computers is a leading supplier of rugged mobile computing devices and solutions for demanding environments. 30 years of development and manufacturing experience have enabled JLT to set the standard in rugged computing, combining outstanding product quality with expert service, support and solutions to ensure trouble-free business operations for customers in warehousing, transportation, manufacturing, mining, ports and agriculture. JLT operates globally from offices in Sweden, France, and the US, complemented by an extensive network of sales partners in local markets. The company was founded in 1994, and the share has been listed on the Nasdaq First North Growth Market stock exchange since 2002 under the symbol JLT. Eminova Fondkommission AB acts as Certified Adviser. Learn more at jltmobile.com.

Attachment
- Year-end report 2024
The MIL Network –
February 12, 2025
MIL-OSI: New Sampo shares issued in the share split registered with the Finnish Trade Register

Source: GlobeNewswire (MIL-OSI)

Sampo plc, stock exchange release, 12 February 2025 at 8:30 am EET

New Sampo shares issued in the share split registered with the Finnish Trade Register

Sampo plc announced on 5 February 2025 the resolution by the Board of Directors of Sampo on a share split by way of a share issue without consideration in proportion to shares owned by shareholders. The new Sampo A and B shares are issued to shareholders in proportion to their existing holdings on the record day of the share issuance on 12 February 2025, so that four (4) new A shares are issued for each existing A share and four (4) new B shares are issued for each existing B share. After the share split, shareholders will have five Sampo shares for each old existing Sampo share. The new shares have been registered with the Finnish Trade Register today, 12 February 2025.

In total, 2,152,191,088 new Sampo A shares and 800,000 new B shares were issued in the share split. Following the registration of the new shares, Sampo’s total share count amounts to 2,691,238,860 shares. The total number of A shares is 2,690,238,860 and the total number of votes attached to these shares is 2,690,238,860. The total number of B shares is 1,000,000 and the total number of votes attached to the shares is 5,000,000.

Trading in the new A shares on Nasdaq Helsinki, Nasdaq Stockholm (in the form of Swedish depository receipts) and Nasdaq Copenhagen (in the form of share entitlements) is expected to commence on or about 13 February 2025. However, the new Swedish depository receipts are expected to be available on the accounts in Euroclear Sweden on or about 14 February 2025. The share split does not require any action from shareholders nor holders of Swedish depository receipts. The share split will not affect Sampo’s ISIN codes.

SAMPO PLC
Investors Relations and Group Communications

For further information, please contact:

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

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

The MIL Network –

February 12, 2025

MIL-OSI: Year End Report 2024

Source: GlobeNewswire (MIL-OSI)

Highlights

The Company added a total of 50 GWh of annual long-term proportionate power generation through acquisitions in 2024, reflecting a five percent increase in long-term power generation, of which 20 GWh was added in the fourth quarter.
Power generation amounted to 907 GWh for the year, in line with the updated outlook, and power generation of 287 GWh during the fourth quarter marks the Company’s highest ever quarterly production.
Reached the ready-to-permit milestone for the Company’s first large-scale project in the UK, a 1.4 GW solar and 500 MW battery project, and initiated a sales process to assess divestment options.
Achieved carbon neutrality for Scope 1 and 2 carbon emissions.

Consolidated financials – 12 months

Cash flows from investing activities amounted to MEUR 32.6 and was positively impacted by the sale of the Leikanger hydropower plant in the second quarter.
Cash flows from operating activities amounted to MEUR -6.3.

Proportionate financials – 12 months

Achieved electricity price amounted to EUR 34 per MWh, which resulted in a proportionate EBITDA of MEUR 7.0.
Proportionate net debt of MEUR 65.0, with significant liquidity headroom available through the MEUR 170 revolving credit facility.

Financial Summary

Orrön Energy owns renewables assets directly and through joint ventures and associated companies and is presenting proportionate financials to show the net ownership and related results of these assets. The purpose of the proportionate reporting is to give an enhanced insight into the Company’s operational and financial results.

Expressed in MEUR	1 Jan 2024- 31 Dec 2024 12 months	1 Oct 2024- 31 Dec 2024 3 months	1 Jan 2023- 31 Dec 2023 12 months	1 Oct 2023- 31 Dec 2023 3 months
Consolidated financials
Revenue	25.7	7.1	28.0	8.4
EBITDA	-1.6	-2.5	-5.1	-0.9
Operating profit (EBIT)	-17.5	-6.3	-17.0	-4.4
Net result	-13.3	-6.6	-7.6	8.0
Earnings per share – EUR	-0.05	-0.02	-0.03	0.03
Earnings per share diluted – EUR	-0.05	-0.02	-0.03	0.03
Proportionate financials¹
Power generation (GWh)	907	287	765	226
Average price achieved per MWh – EUR	34	30	47	43
Operating expenses per MWh – EUR	17	14	18	16
Revenue	30.7	8.7	36.2	9.6
EBITDA	7.0	0.1	5.3	1.3
Operating profit (EBIT)	-12.9	-4.8	-11.0	-3.2

¹ Proportionate financials represent Orrön Energy’s proportionate ownership (net) of assets and related financial results, including joint ventures. For more details see section Key Financial Data in the Year End Report 2024.

Comment from Daniel Fitzgerald, CEO of Orrön Energy AB
“2024 marks another year of good progress despite challenging market conditions. We added around 50 GWh of long-term annual power generation through value-accretive acquisitions in Sweden, strengthened our balance sheet with the sale of the Leikanger hydropower asset, and launched our first sales process in the UK having reached the ready-to-permit stage on a project with 1.4 GW solar generation capacity and a 500 MW battery. In response to the volatile market conditions experienced in 2024, we initiated voluntary production curtailments across a portion of our portfolio, and started providing ancillary services to the market via some of our windfarms. These initiatives have helped us to reduce the impact of negatively priced hours and take advantage of alternative revenue streams. We remain focused on delivering profitable growth and are consistently looking for ways to improve performance during challenging market environments.

Proportionate power generation amounted to 907 GWh for the year, which was in line with our updated outlook. We delivered a record quarterly power generation of 287 GWh in the fourth quarter, despite the impact of voluntary production curtailments during periods of low electricity prices. While the overall power generation in 2024 was impacted by lower-than-average wind speeds, we hope to see more normalised weather conditions in 2025, following four consecutive years of wind speeds below the historical long-term average. Taking into account this variability, the acquisitions made in 2024, and the potential for future curtailment, we expect our power generation in 2025 to be between 900 and 1,050 GWh, which gives some margin both for weather and market conditions.

Capitalising on market opportunities
The renewable energy industry continued to face headwinds in 2024, as elevated interest rates, inflation, and periods of low electricity prices led to downward pressures on valuations and stock prices across the sector. Uncertainty in the US and political shifts across Europe further impacted investor confidence regarding the pace and support for the energy transition. However, the long-term fundamentals for renewable energy remain strong, where onshore wind and solar continue to have the lowest breakeven cost by a significant margin compared to other sources. Despite political or economic headwinds, these investments are poised to stand the test of time. We maintained our strategic focus, adding over 50 GWh of long-term proportionate power generation in 2024 at a cost of less than 0.5 MEUR per MW. We have now replaced 50 percent of the production sold of the Leikanger asset, at a significantly lower unit cost, demonstrating a highly accretive and efficient recycling of capital.

In the Nordics, electricity prices remained highly volatile, which impacted our financial results. This was largely driven by periods of oversupply due to lower seasonal demand, high hydrological balances, elevated gas storage and surplus electricity from interconnected European markets. Looking ahead, energy demand is forecast to grow, fuelled by GDP growth, continued electrification and increased power needs for data centres and artificial intelligence.

First UK project reached ready-to-permit stage, sales process commenced
We continued advancing our project development platform in the fourth quarter, and I am excited to announce that we achieved a significant milestone by having our first large-scale project in the UK reach the ready-to-permit stage. The project is a 1.4 GW solar and 500 MW co-located battery development, and we have initiated a sales process to evaluate divestment options. This is the first project from our pipeline to reach this milestone, and we expect to have a number of follow-on projects reaching the same stage in 2025 both in the UK and Germany. In the UK, two key regulatory reforms are currently ongoing; the Clean Power 2030 Action Plan and the grid connections reform. Both aim to simplify and enhance the ability for renewable energy projects to obtain a grid connection more efficiently based on zonal capacity expectations. These reforms have had an impact on our prioritisation of projects and created some uncertainty for investors in the UK, and we will continue to monitor developments aiming to ensure our projects remain well-positioned in this evolving regulatory landscape.

Financially resilient
We remain in a financially robust position, with liquidity headroom exceeding MEUR 100. Proportionate revenues and other income amounted to MEUR 8.9 for the fourth quarter and MEUR 42.1 for the year, which was impacted by low electricity prices, resulting in a proportionate EBITDA of MEUR 0.1 for the fourth quarter and MEUR 7.0 for the year. Our full-year expenditure guidance for 2025 remains largely in line with 2024 and the business strategy remains unchanged as we enter the new year.

Entering the next chapter of growth
Looking ahead to 2025 and beyond, I believe this will be a transformational period for Orrön Energy on many fronts. The Nordic business continues its organic growth with a good pipeline of projects, 1,000 GWh of long-term proportionate power generation and plenty of acquisition opportunities. The UK and German teams are rapidly reaching key milestones and we expect to see results from our project sales throughout 2025, with a material pipeline of opportunities to follow. We have now passed the halfway point of the Sudan legal case, and expect the District Court trial to finish during the second quarter of 2026, which will significantly reduce our future legal costs and positively impact our financial results thereafter. With the end of the Sudan trial in sight and our two organic growth platforms running, we can now start shaping the next strategic growth chapter for our business, and over the next year we will explore new opportunities to expand our portfolio and unlock additional value for our shareholders. I would like to thank our shareholders for their continued support and look forward to sharing updates on the exciting growth opportunities that lie ahead of us.”

Webcast
Listen to Daniel Fitzgerald, CEO and Espen Hennie, CFO commenting on the report and presenting the latest developments in Orrön Energy and its future growth strategy together with members of Orrön Energy’s management team at a webcast during the Company’s Capital Markets Day today at 14.00 CET. The presentation will be followed by a question-and-answer session.

Follow the presentation live on the below webcast link:
https://orron-energy.events.inderes.com/cmd-2025

For further information, please contact:

Robert Eriksson
Corporate Affairs and Investor Relations
Tel: +46 701 11 26 15
robert.eriksson@orron.com

Jenny Sandström
Communications Lead
Tel: +41 79 431 63 68
jenny.sandstrom@orron.com

Orrön Energy is an independent, publicly listed (Nasdaq Stockholm: “ORRON”) renewable energy company within the Lundin Group of Companies. Orrön Energy’s core portfolio consists of high quality, cash flow generating assets in the Nordics, coupled with greenfield growth opportunities in the Nordics, the UK, Germany and France. With financial capacity to fund further growth and acquisitions, and backed by a major shareholder, management and Board with a proven track record of investing into, leading and growing highly successful businesses, Orrön Energy is in a unique position to create shareholder value through the energy transition.

This information is information that Orrön Energy AB is required to make public pursuant to the Securities Markets Act. The information was submitted for publication, through the contact persons set out above, at 07.30 CET on 12 February 2025.

Forward-looking statements
Statements in this press release relating to any future status or circumstances, including statements regarding future performance, growth and other trend projections, are forward-looking statements. These statements may generally, but not always, be identified by the use of words such as “anticipate”, “believe”, “expect”, “intend”, “plan”, “seek”, “will”, “would” or similar expressions. By their nature, forward-looking statements involve risk and uncertainty because they relate to events and depend on circumstances that could occur in the future. There can be no assurance that actual results will not differ materially from those expressed or implied by these forward-looking statements due to several factors, many of which are outside the company’s control. Any forward-looking statements in this press release speak only as of the date on which the statements are made and the company has no obligation (and undertakes no obligation) to update or revise any of them, whether as a result of new information, future events or otherwise.

Attachment

Q4 2024 Report English

The MIL Network –

February 12, 2025

MIL-OSI: Aktia Bank Plc directs share issue to the company itself without payment

Source: GlobeNewswire (MIL-OSI)

Aktia Bank Plc
Stock Exchange Release
12 February 2025 at 8.15 a.m.

Aktia Bank Plc directs share issue to the company itself without payment

The Board of Directors of Aktia Bank Plc has, pursuant to the share issue authorization granted by the Annual General Meeting held on 3 April 2024, resolved on an issue of 180,000 new shares to the company itself without payment. The new shares to be issued to the company will be used for reward payments under the company’s incentive programs.

The total number of the company’s shares after the share issue is 73,161,696 shares, of which 234,834 shares in total are held by the company.

The new shares will be entered into the Trade Register approximately on 20 February 2025 and will be applied for public trading on Nasdaq Helsinki Ltd approximately as of 21 February 2025.

Aktia Bank Plc

Further information:
Oscar Taimitarha, Director, Investor Relations, tel. +358 40 562 2315, ir (at) aktia.fi

Distribution:
Nasdaq Helsinki Ltd
Mass media
www.aktia.com

Aktia is a Finnish asset manager, bank and life insurer that has been creating wealth and wellbeing from one generation to the next for 200 years. We serve our customers in digital channels everywhere and face-to-face in our offices in the Helsinki, Turku, Tampere, Vaasa and Oulu regions. Our award-winning asset management business sells investment funds internationally. We employ approximately 850 people around Finland. Aktia’s assets under management (AuM) on 31 December 2024 amounted to EUR 14.0 billion, and the balance sheet total was EUR 11.9 billion. Aktia’s shares are listed on Nasdaq Helsinki Ltd (AKTIA). aktia.com.

The MIL Network –

February 12, 2025
MIL-OSI: Invitation to Aktia’s investor event on 27 February 2025

Source: GlobeNewswire (MIL-OSI)

Aktia Bank Plc
Press Release
12 February 2025 at 7.45 a.m.

Invitation to Aktia’s investor event on 27 February 2025

Aktia invites investors, analysts, and media representatives to its investor event on 27 February 2025. The event will begin at 12.30 p.m. (EET) and end approximately at 2.30 p.m.

During the investor event, CEO Aleksi Lehtonen, together with other members of Aktia’s Executive Committee, will provide updates on the company’s strategic priorities, business operations and financial targets. The event will be held in English.

The investor event will take place at Kulttuurikasarmi in Helsinki, located at Narinkkatori 2. A light lunch will be served at 12.00 p.m., prior to the event. After the event, coffee will be served, and participants will have the opportunity to meet Aktia’s management. To attend in person, please register by 20 February 2025.

The investor event can also be viewed live as a webcast at 12.30 p.m. To attend the webcast, please register by 26 February 2025. Attendees will have the opportunity to ask questions to Aktia’s management during the event.

Please, register here: https://aktia.events.inderes.com/2025-investor-event.

The presentation material will be available on Aktia’s website www.aktia.com before the event. A recording of the event will also be available afterwards on Aktia’s website.

Aktia Bank Plc

Further information:
Oscar Taimitarha, Director, Investor Relations, tel. +358 40 562 2315, ir (at) aktia.fi

Distribution:
Nasdaq Helsinki Ltd
Mass media
www.aktia.com

Aktia is a Finnish asset manager, bank and life insurer that has been creating wealth and wellbeing from one generation to the next for 200 years. We serve our customers in digital channels everywhere and face-to-face in our offices in the Helsinki, Turku, Tampere, Vaasa and Oulu regions. Our award-winning asset management business sells investment funds internationally. We employ approximately 850 people around Finland. Aktia’s assets under management (AuM) on 30 September 2024 amounted to EUR 14.3 billion, and the balance sheet total was EUR 12.0 billion. Aktia’s shares are listed on Nasdaq Helsinki Ltd (AKTIA). aktia.com.

The MIL Network –

February 12, 2025

Trading venue (MIC Code)	Number of shares	Weighted average price / share, EUR*
XHEL	1,334,463	4.74
CEUX	–	–
BATE	–	–
AQEU	–	–
TQEX	–	–
Total	1,334,463	4.74

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