Category: Sport and recreation

MIL-OSI New Zealand: Board approves Rangihoua Reserve and Onetangi Sports Park plan

Source: Auckland Council

Waiheke is about to have a plan in place for the future management of the popular Rangihoua Reserve and Onetangi Sports Park.

The Waiheke Local Board approved the adoption of the long-awaited draft Rangihoua Reserve and Onetangi Sports Park Management Plan 2024 at a meeting on 10 October 2024.

As well as being Waiheke’s largest centre for sport and recreational facilities, the park includes important ecological waterways and wetlands.

The park and its surrounding landscape have always been a significant cultural site for mana whenua known as Te Rangihoua that includes the maunga (mountain) pā site Te Pūtiki o Kahumatamomoe, and the Rangihoua awa (stream) and their histories and aspirations are captured in the new plan.

The plan, which has been in development since 2018, has been informed by extensive research and engagement with mana whenua, the local community and key stakeholders to provide a framework for “managing the use, enjoyment, maintenance, protection, preservation and, to the extent that resources permit and as appropriate, the development of part of” the 60-hectare park situated southeast of Waiheke’s Ostend suburb.

“It’s been a long road to get to this point, but we are really pleased to have this plan in place to make sure this important area of Waiheke will be managed well for future generations. Huge thanks to the many stakeholders involved whose perseverance and amazing mahi helped create this plan,” says Local Board Chair Cath Handley

The board is now developing a programme to allocate funds to initiatives in the plan for the 2025/26 financial year.

You can read the draft Rangihoua Reserve and Onetangi Sports Park Management Plan 2024 here.

Stay up to date

Want to stay up to date with all the latest news from your area? Sign up for the Waiheke Local Board E-News and get the latest direct to your inbox each month.

MIL OSI New Zealand News –

January 25, 2025
MIL-OSI Asia-Pac: Fashion Fest starts Nov 20

Source: Hong Kong Information Services

The first Hong Kong Fashion Fest will be held between November 20 and December 4 at various locations in the city, Secretary for Culture, Sports & Tourism Kevin Yeung announced.

Mr Yeung today attended the Hong Kong Fashion Fest Preview, which was held to raise the curtain on the inaugural Hong Kong Fashion Design Week.

Speaking at the preview, the culture chief said the fashion fest will be an annual signature event signifying Hong Kong as Asia’s fashion design hub.

He outlined that there will a variety of programmes, including a summit and a forum for high-level discussions on the development of the industry, fashion shows and exhibitions showcasing the work of local and overseas designers in haute couture fashion, workwear, evening wear and other types of clothing, and a cross-sector soiree.

“Not only will the Hong Kong Fashion Fest showcase the soft power of Hong Kong in fashion design, it will be a platform for local and international fashion designers and brands, and enhance collaboration of Hong Kong’s fashion design industries with the rest of the world.

“We envisage that the Hong Kong Fashion Fest will attract 150,000 participants from over 15 countries and regions. It will fully demonstrate Hong Kong’s role as the East-meets-West centre for international cultural exchange,” he added.

MIL OSI Asia Pacific News –

January 25, 2025
MIL-OSI USA: UConn Firsts: First Visit from a US President

Source: US State of Connecticut

Gerald Ford had been out of the White House for nearly 10 years when he spoke to a packed Jorgensen Center for the Performing Arts on Sept. 23, 1986, but that occasion was nonetheless the first visit to UConn by someone who had served as President of the United States. Ford, a Michigan congressman who became vice president after the resignation of Spiro Agnew in 1973, would become the country’s 38th president the following year, after Richard Nixon’s resignation. At UConn, Ford addressed issues of the day – the Soviet Union, the apartheid regime in South Africa, the federal budget – and joked about his “Saturday Night Live” portrayal as a clumsy oaf. “I knew I was a fairly decent athlete, and most of those critics were much less capable,” said Ford, a star linebacker on two national champion University of Michigan football teams in the 1930s. “I enjoy a good laugh.” Nine years later, Bill Clinton became the first sitting president to visit UConn, for the dedication of the Dodd Center for Human Rights.

MIL OSI USA News –

January 25, 2025
MIL-OSI Europe: Swiss National Armaments Director takes part in the Conference of National Armaments Directors of NATO

Source: Switzerland – Department of Defence, Civil Protection and Sport

The Swiss National Armaments Director Urs Loher takes part in the annual NATO Conference of National Armaments Directors (CNAD) on 24 October 2024, which is held with NATO partner states in Brussels. This year, talks will focus on a potential stronger commitment of the partner states with NATO. The National Armaments Director takes the opportunity to meet with his counterparts for bilateral talks at the event. In addition, the National Armaments Director will attend meetings with the European Defence Agency as well as with the European Union-Directorate-General for Defence Industry and Space (DG DEFIS).

MIL OSI Europe News –

January 25, 2025
MIL-OSI United Kingdom: Sheffield could see more events hosted in the city and more benefits for local people Sheffield could play host to more major events and events that have a greater impact on the city and its residents, if plans are approved to develop a new city-wide events strategy. 24 October 2024

Source: City of Sheffield

Sheffield it already go to Tramlines, one of the UK’s longest running, city-based music festivals

Sheffield could play host to more major events and events that have a greater impact on the city and its residents, if plans are approved to develop a new city-wide events strategy.

Sheffield already has an excellent reputation as a city of major events, festivals and conferences.

The city has played host to some of the UK’s biggest events in recent years, from Women’s Euros 2022 and the Rugby League World Cup, to the 2024 MOBO Awards, and most recently, the third leg of the Tour of Britain. Sheffield was also shortlisted to host the 2023 Eurovision Song Contest in solidarity with Ukraine.

Alongside successfully bidding for some of the most high-profile and internationally significant events, Sheffield is also home of network of its own home-grown festivals.

From DocFest, which has been in the city for over 30 years, to Tramlines, one of the UK’s longest running, city-based music festivals. Sheffield is also home of Off the Shelf and No Bounds, which was recently described by the Guardian as ‘dizzingly daring’ and ‘impressive’.

Earlier this year, a brand-new podcast festival, Crossed Wires, was also launched in the city, attracting talent from across the UK and beyond, to Sheffield.

The city also has a strong track-record for bidding for and hosting a range of world-leading conferences, including the International Coeliac Disease Symposium and the British Association of Paediatric Surgeons.

Esther Britten, Deputy Director and Head of Events at UK Sport, said:

“Sheffield has been a supportive partner and host to UK Sport funded major events over the last decade.

“Their commitment to not only staging the very best events but maximising their impact on the local community has enhanced the city’s reputation through the UK as a recognised host of the very best major international sporting events, we see them as a key host city looking into the future.”

A new proposal from Sheffield City Council to develop a city-wide major events strategy would seek to take things a step further – attracting more events to the city, better events and by creating a framework to ensure events hosted have a lasting, positive impact on local people, local businesses, communities and the Sheffield economy.

If given the go ahead, a new major events plan will be developed, aiming to provide a clearer ambition for events in the city and an action plan to transform Sheffield into a recognised destination for home-grown, curated, commissioned, and nomadic events.

Councillor Martin Smith, Chair of the Economic Development and Skills Committee at Sheffield City Council, said:

“Events are big business, not just in Sheffield, but across the UK.

“Not only is the economic impact of events significant for the city, but events help us build our reputation and allow others to see and experience Sheffield on a different scale. Events bring people together, they celebrate our diversity and all of our local communities, helping to make Sheffield the vibrant place it is to live in and visit.

“Hosting more events, and more diverse events will help us attract more visitors to the city, generate more income, they will bring investment and help us to grow our economy.”

The idea behind the proposed plan is to create an approach that helps decision-makers identify the very best and most beneficial events for Sheffield and its people.

The plan would focus on ensuring events being held in the city are of a real benefit, with things like economic impact, community benefits and ensuring inclusivity and diversity, always considered when bidding for and putting on events.

It will look to identify opportunities across sport, business and culture and find events that Sheffield is not only a good fit for, but that are also a good fit for Sheffield and the city’s ambitions.

Councillors will be asked to approve proposals to begin development of the Major Events Plan for Sheffield at an Economic Development and Skills Committee meeting on Thursday 31^st of October 2024.

If agreed, the first phase of development will involve engaging with experts in the field and local partners to help identify future opportunities for Sheffield.

This will be vital in ensuring the pipeline of events is right for the city and well positioned to attract wider investment.

You can read the full report on the Sheffield City Council website.

You can watch the full committee meeting at 10am on Thursday 31^st of October 2024 via the webcast.

MIL OSI United Kingdom –

January 25, 2025

MIL-OSI Australia: eInvoicing-enabled entities

Source: Australian Department of Revenue

These Australian Government entities are registered on the Peppol network. They appear on the Peppol Directory along with hundreds of state, territory and local government organisations, and thousands of other Australian businesses who can receive eInvoices.

If you supply to any of the entities listed below and can send eInvoices you may be paid faster. For more information visit Getting PaidExternal Link on the Department of Finance’s website or talk to your contract manager in the Government entity about any specific requirements.

Australian Government entities able to receive eInvoices
ABN	Entity name
73 147 176 148	Administrative Review Tribunal
80 246 994 451	Aged Care Quality and Safety Commission
50 802 255 175	Asbestos and Silica Safety and Eradication Agency
92 661 124 436	Attorney-General’s Department
26 331 428 522	Australian Bureau of Statistics
34 864 955 427	Australian Centre for International Agriculture Research
54 488 464 865	Australian Charities and Not-for-profits Commission
97 250 687 371	Australian Commission on Safety and Quality In Health Care
55 386 169 386	Australian Communications and Media Authority
94 410 483 623	Australian Competition & Consumer Commission
11 259 448 410	Australian Crime Commission
84 425 496 912	Australian Digital Health Agency
21 133 285 851	Australian Electoral Commission
17 864 931 143	Australian Federal Police
19 892 732 021	Australian Film Television & Radio School
63 384 330 717	Australian Financial Security Authority
81 098 497 517	Australian Fisheries Management Authority
69 405 937 639	Australian Government Solicitor
47 996 232 602	Australian Human Rights Commission
31 162 998 046	Australian Industrial Chemicals Introduction Scheme
63 257 175 248	Australian Institute of Criminology
64 001 053 079	Australian Institute of Family Studies
65 377 938 320	Australian Maritime Safety Authority
33 020 645 631	Australian National Audit Office
13 059 525 039	Australian Office of Financial Management
56 253 405 315	Australian Organ & Tissue Donation and Transplantation Authority
79 635 582 658	Australian Prudential Regulation Authority
99 470 863 260	Australian Public Service Commission
61 321 195 155	Australian Radiation Protection and Nuclear Safety Agency (ARPANSA)
35 931 927 899	Australian Renewable Energy Agency
35 201 451 156	Australian Research Council
86 768 265 615	Australian Securities & Investments Commission
37 467 566 201	Australian Security Intelligence Organisation
22 323 254 583	Australian Signals Directorate
72 581 678 650	Australian Skills Quality Authority
67 374 695 240	Australian Sports Commission
67 250 046 148	Australian Submarine Agency
51 824 753 556	Australian Taxation Office
11 764 698 227	Australian Trade and Investment Commission
32 770 513 371	Australian Transaction Reports & Analysis Centre (AUSTRAC)
65 061 156 887	Australian Transport Safety Bureau
64 909 221 257	Australian War Memorial
92 637 533 532	Bureau of Meteorology
21 075 951 918	Cancer Australia
44 808 014 470	Civil Aviation Safety Authority
43 669 904 352	Clean Energy Finance Corporation
72 321 984 210	Clean Energy Regulator
60 585 018 782	Climate Change Authority
41 640 788 304	Comcare Australia
64 703 642 210	Commonwealth Grants Commission
34 190 894 983	Department of Agriculture, Fisheries and Forestry
68 706 814 312	Department of Defence
69 289 134 420	Department of Defence Army & Air Force Canteen Service
12 862 898 150	Department of Education
96 584 957 427	Department of Employment and Workplace Relations
61 970 632 495	Department of Finance
47 065 634 525	Department of Foreign Affairs & Trade
83 605 426 759	Department of Health and Aged Care
33 380 054 835	Department of Home Affairs
74 599 608 295	Department of Industry, Science and Resources
86 267 354 017	Department of Infrastructure, Transport, Regional Development, Communications and the Arts
52 997 141 147	Department of Parliamentary Services
36 342 015 855	Department of Social Services
18 526 287 740	Department of the House of Representatives
49 775 240 532	Department of the Parliamentary Budget Office
23 991 641 527	Department of the Senate
92 802 414 793	Department of the Treasury
23 964 290 824	Department of Veterans’ Affairs & the Repatriation Commission and the Military Rehabilitation and Compensation Commission
96 257 979 159	Digital Transformation Agency
13 051 694 963	Director of National Parks
99 696 833 561	Domestic, Family and Sexual Violence Commission
12 212 931 598	eSafety Commissioner
93 614 579 199	Fair Work Commission
49 110 847 399	Federal Court of Australia
20 537 066 246	Food Standards Australia New Zealand
40 465 597 854	Future Fund Board of Guardians
53 156 699 293	Future Fund Management Agency
80 091 799 039	Geoscience Australia
12 949 356 885	Great Barrier Reef Marine Park Authority
27 598 959 960	Independent Health and Aged Care Pricing Authority
26 424 781 530	Independent Parliamentary Expenses Authority
59 912 679 254	Indigenous Land and Sea Corporation
51 248 702 319	Inspector-General of Taxation
38 113 072 755	IP Australia
13 679 821 382	Murray-Darling Basin Authority
47 446 409 542	National Anti-Corruption Commission
36 889 228 992	National Archives of Australia
87 361 602 478	National Blood Authority
75 149 374 427	National Capital Authority
56 552 760 098	National Competition Council
25 617 475 104	National Disability Insurance Agency
40 816 261 802	National Emergency Management Agency
27 855 975 449	National Gallery of Australia
88 601 010 284	National Health and Medical Research Council
15 337 761 242	National Health Funding Body
30 429 895 164	National Indigenous Australians Agency
22 385 178 289	National Offshore Petroleum Safety and Environmental Management Authority
67 890 861 578	National Transport Commission
72 581 678 650	National Vocational Education and Training Regulator
40 293 545 182	NDIS Quality and Safeguards Commission
61 900 398 761	North Queensland Water Infrastructure Authority
87 904 367 991	Office of National Intelligence
41 425 630 817	Office of Parliamentary Counsel
80 959 780 601	Office of the Auditing and Assurance Standards Board
92 702 019 575	Office of the Australian Accounting Standards Board
85 249 230 937	Office of the Australian Information Commissioner
53 003 678 148	Office of the Commonwealth Ombudsman
41 036 606 436	Office of the Director of Public Prosecutions
43 884 188 232	Office of the Fair Work Ombudsman
15 862 053 538	Office of the Gene Technology Regulator
27 478 662 745	Office Of the Inspector-General of Aged Care
67 332 668 643	Office of the Inspector-General of Intelligence & Security
67 582 329 284	Office of the Official Secretary to the Governor-General
87 767 208 148	Office of the Special Investigator
30 620 774 963	Old Parliament House
78 094 372 050	Productivity Commission
45 307 308 260	Professional Services Review
99 528 049 038	Regional Investment Corporation
45 852 104 259	Royal Australian Mint
25 203 754 319	Rural Industries Research & Development Corporation
81 840 374 163	Safe Work Australia
46 741 353 180	Screen Australia
32 745 854 352	Seafarers Safety Rehabilitation and Compensation Authority
90 794 605 008	Services Australia
17 090 574 431	Snowy Hydro Limited
91 314 398 574	Special Broadcasting Service Corporation
70 588 505 483	Sport Integrity Australia
50 658 250 012	Tertiary Education Quality and Standards Agency
18 108 001 191	The Department of the Prime Minister and Cabinet
40 939 406 804	Therapeutic Goods Administration
57 155 285 807	Torres Strait Regional Authority
47 641 643 874	Workplace Gender Equality Agency

MIL OSI News –

January 25, 2025

MIL-OSI: Bitget lists Piggy Piggy Coin (PGC) on Pre-market for Advance Trading Orders

Source: GlobeNewswire (MIL-OSI)

VICTORIA, Seychelles, Oct. 24, 2024 (GLOBE NEWSWIRE) —

Bitget, the leading cryptocurrency exchange and Web3 company, has announced the listing of PiggyPiggy Coin (PGC) in its Pre-market allowing users to place buy and sell orders prior to its launch. The pre-market period started on October 22nd, 2024, 10:00 (UTC), with spot trading beginning shortly after. This early trading option is designed to give users an opportunity to participate in the PCG market prior to its full availability.

Bitget’s pre-market trading platform allows users to engage in over-the-counter transactions of new tokens before their official listing. This feature offers a peer-to-peer marketplace where buyers and sellers can negotiate prices, facilitating advanced liquidity and strategic investment opportunities. Participants can secure coins at favorable prices, allowing for optimized investments without the immediate need for sellers to possess the coins.

PiggyPiggy Coin (PGC), produced by FunKing Studio, is launching its first token, $PPT, through a highly developed TG Bot-based mini-game that offers 100% token airdrops. Players can earn a daily minimum salary of $2, with higher earnings available by inviting friends. The project has significant traffic, with over 57K Twitter followers and strong engagement across Telegram channels. FunKing Studio has reportedly secured $3 million in equity investment from prominent firms like IDG Capital, KuCoin Ventures, Opta, and Sportsbet.

Bitget’s introduction of PGC through its pre-market mechanism shows the platform’s strategy to provide users early access to emerging blockchain projects. This early engagement benefits both the token’s market exposure and user participation, making it an integral part of Bitget’s expanding crypto ecosystem.

Bitget has established itself as one of the leading crypto spot trading platforms, offering a diverse selection of over 800 coins and more than 900 trading pairs across various ecosystems, including Ethereum, Solana, Base, and recently, TON. The pre-market platform, launched in April 2024, has facilitated early access to over 150 high-profile projects such as EigenLayer (EIGEN), Zerolend (ZERO), Notcoin (NOT), and ZkSync (ZKSYNC), providing a unique opportunity for investors to engage with emerging tokens at an early stage. The addition of PGC to this lineup further enhances Bitget’s commitment to offering users access to promising Web3 projects.

PGC’s introduction on Bitget’s platform signifies a growing interest in Telegram-based projects that incorporate both gaming mechanics and financial elements, creating a symbiotic relationship between entertainment and decentralized finance. This listing is expected to attract a diverse range of participants, from avid gamers to crypto enthusiasts, who are eager to explore and invest in the evolving landscape of blockchain.

For more information on PGC, please visit here.

About Bitget

Established in 2018, Bitget is the world’s leading cryptocurrency exchange and Web3 company. Serving over 45 million users in 150+ countries and regions, the Bitget exchange is committed to helping users trade smarter with its pioneering copy trading, AI bot and other trading solutions. Bitget Wallet is a world-class multi-chain crypto wallet that offers an array of comprehensive Web3 solutions and features including wallet functionality, swap, NFT Marketplace, DApp browser, and more. Bitget inspires individuals to embrace crypto through collaborations with credible partners, including being the Official Crypto Partner of the World’s Top Professional Football League, LALIGA, in EASTERN, SEA and LATAM, as well as a global partner of Olympic Athletes Buse Tosun Çavuşoğlu (Wrestling world champion), Samet Gümüş (Boxing gold medalist) and İlkin Aydın (Volleyball national team).

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

For media inquiries, users can contact: media@bitget.com

Risk Warning: Digital asset prices may fluctuate and experience price volatility. Only invest what you can afford to lose. The value of your investment may be impacted and it is possible that you may not achieve your financial goals or be able to recover your principal investment. You should always seek independent financial advice and consider your own financial experience and financial standing. Past performance is not a reliable measure of future performance. Bitget shall not be liable for any losses you may incur. Nothing here shall be construed as financial advice.

Contact

Public Relations
Simran A
Bitget
media@bitget.com

The MIL Network –

January 25, 2025
MIL-OSI United Kingdom: Ministers aim to create ‘top destination for women’s sport investment’
Source: United Kingdom – Executive Government & Departments
English

Cymraeg

Four Welsh organisations benefit from a UK government investment scheme as UK Government ministers seek to create a ‘top destination’ for women’s sport.
Cricket ball next to a boundary rope.

Four Welsh organisations benefit from UK government investment scheme as ministers seek to create ‘top destination’ for women’s sport.

The Genero Adran Football League, Cardiff Dragons netball team, Celtic Challenge Rugby Union competition and England and Wales Women’s Cricket are all beneficiaries of the scheme.

Welsh Secretary says: “It’s really important that the UK Government develops schemes like this to make sure our female sportspeople get the investment they need to achieve success.”

Four Welsh women’s sport organisations are set for a boost after being named as part of a UK Government scheme to grow investment in elite women’s clubs and leagues as part of a new pledge to make the UK the world’s top destination for women’s sport investment.

The Department for Business and Trade will today [Wednesday 23rd October] launch the 2024-25 Women’s Sport Investment Accelerator scheme, which will bring over 20 elite leagues, competitions and teams together with investors and industry experts to help them secure transformational investment and sponsorships.

It will provide them with comprehensive market insights, seminars, connections and networking opportunities over a series of sessions, led by the Department for Business and Trade in collaboration with Deloitte, which will give them the tools and expert insight to help them attract investment and grow their business.

Elite rightsholders in Wales, the Genero Adran League, Cardiff Dragons, Celtic Challenge and England and Wales Women’s Cricket have been named to take part in the scheme. The announcement will be made at a sport investment conference at Rothschild & Co today, involving leaders from major UK sports and some the world’s most prominent international investors.

Secretary of State for Wales, Jo Stevens, said:

Wales has a proud history of producing world class female athletes and it’s fantastic to see this scheme being set up to encourage investment in women’s sport and help develop the stars of the future.

Women’s sport has long been underfunded to it’s really important that the UK Government develops schemes like this to make sure our female sportspeople get the investment they need to achieve success.

Wales Netball & Cardiff Dragons CEO, Vicki Sutton, said:

Being part of the Department of Business and Trade and Deloitte Programme for the last year has been incredibly beneficial for netball in Wales and for my development and understanding as a leader in the sports sector.

Women’s sport is on the rise and this programme has come at exactly the right time to compliment the worldwide movement currently in progress.

Minister for Investment Poppy Gustafsson said:

The UK is already an elite home of women’s sport, and my goal is to make us the top destination for women’s sport investment.

The launch of this scheme, a week after our record-breaking International Investment Summit, shows the UK is truly the best place to do business in this fast-growing industry.

Off the back of the latest figures showing the industry could be worth over £1 billion this year, I’m looking forward to speaking to investors and clubs, leagues and teams today about how the Accelerator can drive this growth even further.”

Deloitte Sports Business Group Lead Partner Tim Bridge said:

We’re witnessing a surge in investment opportunities within women’s sport. The rise of dedicated funds and brand sponsorships for women’s and girls’ clubs, leagues and competitions signals a powerful shift.

The Accelerator programme has been built to connect investors and brands with these opportunities, showcasing the strength and remarkable growth potential of women’s sport. This influx of investment will be instrumental in driving professionalisation and boosting participation across the UK, creating a lasting impact for women’s sport at all levels while delivering significant economic returns.

The scheme will capitalise on the rapid growth of the women’s sport industry, which is expected to be worth over £1 billion by the end of the year according to Deloitte, marking a 300 percent increase since 2021.

The Government’s pledge to make the UK the top destination for women’s sport investment comes after the record-breaking International Investment Summit held just last week, which secured £63 billion of private investment into the UK which will create over 38,000 new jobs across the country.

Full list of the elite sports represented in the 2024-25 Women’s Sport Investment Accelerator:

Football

Cricket

Rugby union

Rugby league

Tennis

Golf

Netball

Volleyball

Cycling

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Published 24 October 2024
MIL OSI United Kingdom –
January 25, 2025
MIL-OSI USA: Boilermakers host successful USA clay shoot, youth day

Source: US International Brotherhood of Boilermakers

This is what we’re supposed to do as a union. We stick together and take care of each other, and we stick together to take care of our community—and that’s the youth.

John Fultz, IVP-Northeast

In partnership with the Boilermakers union, the Union Sportsmen’s Alliance raised more than $120,000 in the annual USA Boilermakers Kansas City Sporting Clays Shoot and hosted more than 60 youths at a Boilermakers Get Youth Outdoors Day in separate events this past September.

Now in its third year, the youth event doubled attendance from previous years. Kids enjoyed the day Sept. 15 at Powder Creek Shooting Park in Lenexa, Kansas, learning gun safety, skills, blasting clays and fishing under the guidance of Boilermakers and other union volunteers. All supplies—from fishing gear to protection and ammunition—were provided, as well as lunch for all.

IVP-Northeast John Fultz was among the event volunteers. He spent the day baiting hooks, taking fish off the hooks and watching kids’ smiles light up with each catch.

“I really enjoyed it—it was like being with my grandkids when they caught their first fish,” he said. “It makes you happy to see them so successful and to watch the moms and dads get excited for their little ones.”

Fultz said being covered in worms for a day was worth it. He noted that IBB staffer Mallory Smith volunteered all day fixing fishing poles, baiting hooks, helping kids however she could—and also covered in worms.

“This is what we’re supposed to do as a union. We stick together and take care of each other, and we stick together to take care of our community—and that’s the youth.”

The following Saturday, on Sept. 22, 116 men, women and youth met at Powder Creek for USA’s popular sporting clays competition. Twenty-five teams competed, each firing 100 rounds per person along the course’s stations. Union partners, Boilermaker local lodges and other unions sponsored the stations to offset event expenses.

The 2024 Kansas City shoot winners were:

Highest overall team score: Callender Printing

Class A high score: Boilermakers Local 363

Class B high score: Mark One

Class C high score: IBEW Local 226

Top overall shooter: Austin Post

Top senior shooter: Clinton Shipp

Top youth shooter: Charlie Jenkins

Top female shooter: Kym Savage

“I want to especially recognize Kym Savage for her work organizing Boilermakers, volunteers, donations, and all the effort she put into the youth event and shoot coordination,” Fultz said. “And it was fun to have her on our team to enjoy the hard work she’d put into the event. Winning as the day’s leading female shooter was well earned.”

Profits from the shooting event support U.S.A.’s mission to “unite the community through conservation to preserve North America’s outdoor heritage.” This was the 15th year for the Boilermaker-sponsored event. The Boilermakers union is a charter member of the Union Sportsmen’s Alliance. Free membership is available to all Boilermaker members.

MIL OSI USA News –

January 25, 2025
MIL-OSI Economics: Samsung and KC Current Team Up To Elevate Fan Engagement

Source: Samsung

Samsung Electronics America celebrates the Kansas City Current’s successful regular season, capped by securing a postseason appearance and the club’s first-ever home playoff game at CPKC Stadium when the postseason begins in November. Samsung is the Official Display Partner for the team’s home at CPKC Stadium, the world’s first stadium purpose-built for a professional women’s sports team. Since the stadium’s historic season opener, Samsung displays have helped to create a dynamic fan experience befitting a world-class sports team. This season, the technology-forward environment will allow CPKC Stadium to host multiple championship events in the venue’s debut season.

From the beginning of the landmark stadium build, the KC Current wanted to engage its fans with a unique, modern venue experience powered by digital storytelling. The team sought a technology partner that would help bring their vision to life and align with their values, particularly in sustainability. Integration and installation partner AmpThink recommended Samsung. Samsung’s best-in-class display technology and engineering, as well as its commitment to using sustainable, smart packaging and shipping methods, made it a strong fit for the KC Current’s goals.

Today, the 11,500-seat stadium’s ecosystem of Samsung displays immerses fans from the moment they arrive through reinforced branding and content. The venue’s centerpiece is a spectacular 75-foot Samsung videoboard that sits against the picturesque backdrop of the Missouri River. When the KC Current takes the field, the videoboard draws attention to each member’s arrival with compelling visual stories. During matches, the display ignites excitement throughout the stands and makes match attendees feel part of the game with replays, fan cams and hype videos.

Samsung XFB Outdoor LED panels lining the perimeter of the field deliver sponsorship messages, inspiring brand affinity among the KC Current’s loyal fans. Samsung TVs and audio systems installed throughout the stadium ensure fans never miss a second of the action on the pitch, even when away from their seat. In keeping with their mutual commitments to sustainability, Samsung displays provide venue operators with multiple built-in modes to help control and reduce energy consumption.

“The KC Current has set a new standard for the fan experience in women’s soccer and professional sports with its digital storytelling and connected ecosystem of Samsung displays,” said Sukhmani Mohta, Chief Marketing Officer, Display Division, Samsung Electronics America. “By investing in a technology-forward, sustainable stadium, the team can effortlessly adapt its storytelling approach for future events. The stadium will continue to provide a platform for showcasing the best female athletes in the world. As an integrated digital solution, Samsung’s videoboard offers flexibility for the KC Current to also create dynamic storytelling experiences for larger corporate events.”

Corporate partners have been able to run custom content in different spaces throughout the venue and on the scoreboard to support fundraising efforts.
“Adding Samsung technology to the KC Current match day experience at CPKC Stadium has been incredibly beneficial for our team, fans and partners,” said KC Current Vice President, Marketing, Jocelyn Monroe. “The CPKC Stadium experience is second to none, and we’re so proud to have welcomed people from across the globe to Kansas City in 2024 to see what makes the Current the best women’s soccer club in the world.”

Read the full case study to learn more about the Kansas City Current’s pioneering use of Samsung displays to create a modern digital storytelling experience at CPKC Stadium.

MIL OSI Economics –

January 25, 2025
MIL-OSI Canada: Alberta rolls out golf carts on municipal roads
Source: Government of Canada regional news

Alberta municipalities have unique transportation needs shaped by their geography and community preferences. Granting municipalities the flexibility to adopt various transportation modes helps reduce congestion and improves the quality of life for residents.

Accordingly, Alberta’s government is working with the Town of Coaldale to pilot the limited use of golf carts in their community, enhancing the mobility of Albertans and increasing recreational options. Other interested communities throughout the province are invited to submit bylaw proposals to Transportation and Economic Corridors for similar pilot projects.

“Transportation does not stand still, and Alberta must be ready with forward-thinking ideas on how to test new transportation-related solutions or activities. Off-highway vehicles (OHVs) and e-bikes have been popular with Albertans for years, and pilot projects like this one hold the key to unlocking new modes of transportation for everyone.”

Devin Dreeshen, Minister of Transportation and Economic Corridors

“This is a commonsense approach to dealing with the use of golf carts in our communities. Many jurisdictions have been allowing golf carts to travel on roads without any concerns.”

Grant Hunter, MLA for Taber-Warner

Coaldale is one of the first towns to pilot the limited use of golf carts, after the Legislature passed legislation that makes innovative projects like this possible, and the town’s pilot will last five years.

Pilot projects like this allow new and innovative uses of existing or new modes of transportation and expands on municipalities already having the ability to allow registered off-highway vehicles to operate on their roads.

“We think it’s great that Alberta Municipalities’ advocacy on golf carts has paid off. Many communities have been asking for this for a few years and I’m happy that Coaldale is able to pilot this initiative for the province.”

Tina Jones, director of towns, Alberta Municipalities

These pilot projects will provide real-life evidence that will help the province evaluate and understand any safety implications and inform future policy decisions on the use of alternative modes of transportation on municipal roads.

“The creation of this pilot project comes as welcome news to the Town of Coaldale. Thanks to Alberta’s government our Council will be able to pass a golf cart bylaw that gives residents living near our local golf course the ability to drive their carts to and from the course. It’s a win for everyone involved – Coaldale residents, municipal enforcement officers, our local golf course, Coaldale Town Council and the Government of Alberta.”

Jack Van Rijn, Mayor of Coaldale

Six other communities, including the County of Lacombe, the Village of Linden, the Summer Village of Whispering Hills, the Town of Delburne, the Village of Acme and Half Moon Bay have applied for and been approved to use golf carts in their communities.

Quick facts
- Alberta recently expanded the use of off-highway-vehicles (OHVs) on Highway 734 from approximately one kilometre south of the Red Deer River north to the intersection of Highway 734 with Highway 11 near Nordegg (approximately 180 kilometres).
- As of March 31, 2023, there were 104,025 registered OHVs in Alberta.
- Three Canadian jurisdictions already have provisions within their legislation that address golf cart use on select municipal roads (British Columbia, Ontario, and Saskatchewan).
Related information
- Golf carts on public roads | Alberta.ca
- Motorized recreation on public land | Alberta.ca
- Off-highway vehicle safety | Alberta.ca
- Off-highway vehicle helmet law | Alberta.ca
MIL OSI Canada News –
January 25, 2025
MIL-OSI United Kingdom: Judges bowled over by Jared at The Ultimate Pitch

Source: Northern Ireland – City of Derry

Judges bowled over by Jared at The Ultimate Pitch

24 October 2024

Judges were bowled over by local entrepreneur Jared Wilson when he spoke about his business ‘Cricket Jobs Ltd’ during the Derry City and Strabane District heat of Go Succeed: The Ultimate Pitch at the Guildhall.

This exciting new initiative, backed by the government’s business support service, is aimed at individuals, businesses, and social enterprises across all sectors that have been trading for less than two years.

A number of local applicants had the opportunity to present their ‘ultimate pitch’ to a panel of experienced judges, but it was Jared Wilson who impressed the most and walked away with a £1,000 prize as well as a year’s hot desk space and 12 months’ membership of the Derry Chamber of Commerce.

Jared will join the Special Category winners from the Derry/Strabane heat at The Ultimate Pitch Final in Belfast in November. The Special Category Winners are as follows: The Rising Star winner – Clare Hamilton, The Influencer Hub; The Social Inclusion winner – Alannah Kerrigan, Wildflower Weddings; and The Social Enterprise winner – Caroline McGinness Brooks, Repair & Share Foyle.

A professional cricketer, Jared’s innovative idea revolves around his company ‘Cricket Jobs’ which gives amateur and professional cricketers the opportunity to view playing and job opportunities around the world.

Reflecting on the success of the local heat of the competition Business Development Manager with Derry City and Strabane District Council, Danielle McNally said: “We were really impressed with the calibre of applicants at the local heat of Go Succeed: The Ultimate Pitch. Our Pitchers had some great ideas which, with the right support, could become sustainable businesses. I would like to thank everyone who took part and to wish Jared, Clare, Alannah and Caroline all the best in the final in Belfast.”

Anna Doherty, Chief Executive of Derry Chamber of Commerce, was one of the judges at the local heat. She said, “We were delighted to see so many local entrepreneurs coming forward to Pitch to us. Every one of them had obviously put a lot of work into their Pitch and I know many of them will go on to build successful businesses and contribute to our local economy. We at the Chamber of Commerce are delighted to be able to offer Jarad membership for one year and use of a hot desk space – we hope the networking opportunities this will present will help him bolster his future business plans.”

Overall winner Jared Wilson was delighted to secure the top prize. He said: “I’m delighted that the judges were impressed with my Pitch. The prize money and support from the Chamber of Commerce will be invaluable in helping to take ‘Cricket Jobs’ to the next level. I am really looking forward to taking part in the Final in Belfast next month and hopefully I can bring The Ultimate Pitch prize back to the North West.”

Go Succeed (www.go-succeed.com) is funded by the UK Government and delivered by Northern Ireland’s 11 councils. The service supports entrepreneurs, new starts and existing businesses with easy-to-access advice and support including mentoring, master classes, peer networks, access to grant funding and a business plan, at every stage of their growth journey.

To find out more information about Go Succeed: The Ultimate Pitch, view a full list of terms and conditions, and apply, visit www.go-succeed.com/TheUltimatePitch.

MIL OSI United Kingdom –

January 25, 2025

MIL-OSI: Cegedim: Revenue growth continued in the third quarter of 2024

Source: GlobeNewswire (MIL-OSI)

PRESS RELEASE

Quarterly financial information as of September 30, 2024
IFRS – Regulated information – Not audited

Cegedim: Revenue growth continued in the third quarter of 2024

Revenue of €156.8 million in Q3 2024, up 5.7%
Marketing, BPO, HR, and cloud businesses led the way
Revenue for the first nine months of 2024 grew 5.9% to €475.8 million

Boulogne-Billancourt, France, October 24, 2024, after the market close.
Revenue

	Third quarter				Change Q3 2024 / 2023
in millions of euros	*2024*	*2023* *reclassified*⁽¹⁾	*Reclassification*⁽¹⁾	*2023* *Reported*	*Reported* *vs. reclassified*⁽¹⁾	*Like for like⁽²⁾⁽³⁾ vs. reclassified*⁽¹⁾
Software & Services	75.6	76.0	-4.8	80.8	-0.5%	-4.2%
Flow	23.7	22.4	-0.4	22.8	5.5%	5.4%
Data & Marketing	28.2	24.1	0.0	24.1	17.0%	17.1%
BPO	21.6	19.0	0.0	19.0	13.9%	13.9%
Cloud & Support	7.7	6.8	+5.2	1.6	12.5%	12.5%
Cegedim	156.8	148.3	0.0	148.3	5.7%	3.8%

	First 9 months				Change 9M 2023 / 2022
in millions of euros	*2024*	*2023* *reclassified*⁽¹⁾	*Reclassification*⁽¹⁾	*2023* *Reported*	*Reported* *vs. reclassified*⁽¹⁾	*Like for like⁽²⁾⁽⁴⁾ vs. reclassified*⁽¹⁾
Software & Services	227.7	226.6	-15.7	242.3	0.5%	-2.6%
Flow	73.2	69.2	-1.8	71.0	5.7%	5.6%
Data & Marketing	87.5	79.0	0.0	79.0	10.8%	10.8%
BPO	61.5	51.8	0.0	51.8	18.8%	18.8%
Cloud & Support	25.8	22.6	+17.5	5.1	13.9%	13.9%
Cegedim	475.8	449.3	0.0	449.3	5.9%	4.3%

Cegedim posted consolidated third quarter revenues up 5.7% as reported and 3.8% like for like⁽²⁾ compared with the same period in 2023. Revenues to end-September rose 5.9% as reported and 4.3% like for like compared with 9M 2023. Marketing, BPO, HR, and cloud businesses all delivered solid growth in the third quarter. As expected, the Software & Services division felt the impact of comparisons with Ségur public health investment spending in 2023 and a slowdown in international sales owing to the decision to refocus the Group’s UK doctor software activities on Scotland.
Analysis of business trends by division

Software & Services

Software & Services	Third quarter		Change Q3 2024 / 2023		First 9 months		Change 9M 2024 / 2023
in millions of euros	*2024*	*2023 reclassified*⁽³⁾	*Reported vs. reclassified*⁽¹⁾	*Like for like⁽²⁾ vs.* *reclassified*⁽¹⁾	*2024*	*2023* *reclassified*⁽¹⁾	*Reported vs. reclassified*⁽¹⁾	*Like for like⁽²⁾ vs.* *reclassified*⁽¹⁾
Cegedim Santé	20.1	18.6	8.0%	-6.2%	58.9	58.4	0.9%	-9.8%
Insurance, HR, Pharmacies, and other services	42.7	43.9	-2.7%	-2.7%	129.5	128.4	0.9%	0.8%
International businesses	12.8	13.5	-5.0%	-6.1%	39.3	39.8	-1.3%	-2.8%
Software & Services	75.6	76.0	-0.5%	-4.2%	227.7	226.6	0.5%	-2.6%

Revenues at Cegedim Santé grew 8.0% as reported in the third quarter but fell 6.2% like for like. We did not fully meet our 2024 goal of offsetting last year’s Ségur impact and keeping like-for-like sales stable, but we are closing the gap with each quarter. Reported growth figures include Visiodent as of March 1, 2024. Visiodent’s gradual transition to Cegedim Group products for scheduling, databases, and so on is generating internal sales, which do not appear in the consolidated scope.

Other French subsidiaries had a challenging quarter, with revenues down 2.7%. We saw positive growth at our insurance businesses, thanks to robust project-based sales, and in HR, which is still getting a boost from its client diversification strategy. Conversely, the €2 million in Ségur public health investment subsidies we recorded in Q3 2023 made for a demanding comparison in the pharmacy business, where equipment sales also flagged after accelerating last year.

Internationally, revenues from software sales to UK doctors declined, as expected, following the decision to refocus the activity on Scotland.

Flow

Flow	Third quarter		Change Q3 2024 / 2023		First 9 months		Change 9M 2024 / 2023
in millions of euros	*2024*	*2023* *reclassified*⁽¹⁾	*Reported vs. reclassified*⁽¹⁾	*Like for like⁽²⁾ vs. reclassified*⁽¹⁾	*2024*	*2023 reclassified*⁽¹⁾	*Reported vs. reclassified*⁽¹⁾	*Like for like⁽²⁾ vs. reclassified*⁽¹⁾
e-business	13.5	13.5	-0.2%	-0.4%	43.5	41.3	5.1%	4.8%
Third-party payer	10.2	8.9	14.3%	14.3%	29.7	27.9	6.7%	6.7%
Flow	23.7	22.4	5.5%	5.4%	73.2	69.2	5.7%	5.6%

Third-quarter growth in e-business, e-invoicing, and digitized data exchanges was nearly flat, at -0.2%. Healthcare flows offset a relative slowdown in the Invoicing & Procurement segment, which last year enjoyed sustained growth in France ahead of the e-invoicing reform scheduled to take effect July 1, 2024, but which has since been postponed to September 2026.

The digital data flow business dealing with reimbursement of healthcare payments in France (Third-party payer) experienced 14.3% yoy growth in Q3. It was boosted by strong growth in demand for its fraud and long-term illness detection offerings.

Data & Marketing

Data & Marketing	Third quarter		Change Q3 2024 / 2023		First 9 months		Change 9M 2024 / 2023
in millions of euros	*2024*	*2023 reclassified*⁽¹⁾	*Reported vs. reclassified*⁽¹⁾	*Like for like⁽²⁾ vs. reclassified*⁽¹⁾	*2024*	*2023 reclassified*⁽¹⁾	*Reported vs. reclassified*⁽¹⁾	*Like for like⁽²⁾ vs. reclassified*⁽¹⁾
Data	15.1	14.6	3.4%	3.4%	43.1	43.4	-0.7%	-0.7%
Marketing	13.1	9.5	38.0%	38.0%	44.4	35.6	24.8%	24.8%
Data & Marketing	28.2	24.1	17.0%	17.1%	87.5	79.0	10.8%	10.8%

Data business posted 3.4% yoy growth in the third quarter, resulting in nearly stable growth over nine months. Growth was led by French sales, which were more dynamic than international sales.

The Marketing segment had a record third quarter, up 38% owing to special ad campaigns during the Olympics. The rising popularity of our phygital media offerings in pharmacies helped the segment post 24.8% growth over the first nine months.

BPO

BPO	Third quarter		Change Q3 2024 / 2023		First 9 months		Change 9M 2024 / 2023
in millions of euros	*2024*	*2023 reclassified*⁽¹⁾	*Reported vs. reclassified*⁽¹⁾	*Like for like⁽²⁾ vs. reclassified*⁽¹⁾	*2024*	*2023 reclassified*⁽¹⁾	*Reported vs. reclassified*⁽¹⁾	*Like for like⁽²⁾ vs. reclassified*
Insurance BPO	15.9	13.8	15.7%	15.7%	44.6	35.9	24.2%	24.2%
Business Services BPO	5.7	5.2	+9.2%	+9.2%	16.9	15.9	6.5%	6.5%
BPO	21.6	19.0	13.9%	13.9%	61.5	51.8	18.8%	18.8%

The Insurance BPO business grew by more than 15.7% over the third quarter, chiefly owing to its overflow business, which has been flourishing since the start of the year. Growth over nine months amounted to 24.2%, partly thanks to a favorable comparison stemming from the April 1, 2023, launch of the Allianz contract.

Business Services BPO (HR and digitalization) continues to report strong growth, up 9.2% yoy over the quarter on the back of a popular compliance offering and new clients.

Cloud & Support

Cloud & Support	Third quarter		Change Q3 2024 / 2023		First 9 months		Change 9M 2024 / 2023
in millions of euros	*2024*	*2023* *reclassified*⁽⁴⁾	*Reported vs. reclassified*⁽¹⁾	*Like for like⁽²⁾ vs.* *reclassified*⁽¹⁾	*2024*	*2023* *reclassified*⁽¹⁾	*Reported vs. reclassified*⁽¹⁾	*Like for like⁽²⁾ vs.* *reclassified*⁽¹⁾
Cloud & Support	7.7	6.8	12.5%	12.5%	25.8	22.6	13.9%	13.9%

The Cloud & Support division’s trajectory continued over the third quarter, with growth of 12.5% reflecting our expanded range of sovereign cloud-backed products and services.

Highlights

Apart from the items cited below, to the best of the company’s knowledge, there were no events or changes during Q3 2024 that would materially alter the Group’s financial situation.

• New financing arrangement

On July 31, 2024, Cegedim announced that it had secured a new financing arrangement consisting of a €230 million syndicated loan. The arrangement is split into €180 million of lines drawn upon closing to refinance the Group’s existing debt (RCF and Euro PP, which were to mature in October 2024 and October 2025 respectively) and an additional, undrawn revolving credit facility (RCF) of €50 million. This new financing arrangement will bolster the Group’s liquidity and extend the maturity of its debt to, respectively, 5 years (€30 million, payments every six months); 6 years (€60 million, repayable upon maturity); and 7 years (€90 million, repayable upon maturity).

Significant transactions and events post September 30, 2024

To the best of the company’s knowledge, there were no post-closing events or changes after September 30, 2024, that would materially alter the Group’s financial situation.

Outlook

Based on the currently available information, the Group expects 2024 like-for-like revenue⁽¹⁾ growth to be towards the lower end of the 5-8% range relative to 2023. That said, we still expect recurring operating income to continue to improve.
These targets are not forecasts and may need to be revised if there is a significant worsening of geopolitical, macroeconomic, or currency risks.

—————

Webcast on October 24, 2024, at 6:15 pm (Paris time)

The webcast is available at: www.cegedim.fr/webcast

The Q3 2024 revenue presentation is available here:
https://www.cegedim.fr/documentation/Pages/presentation.aspx

Financial calendar:

2025

January 29 after the close

March 27 after the close

March 28 at 10:00 am

April 24 after the close

June 13 at 9:30

July 24 after the close

September 25 after the close

September 26 at 10:00 am

October 23 after the close

2024 revenue

2024 results

SFAF meeting

Q1 2025 revenue

Shareholders’ general meeting

H1 2025 revenue

H1 2025 results

SFAF meeting

Q3 2025 revenue

Financial calendar: https://www.cegedim.fr/finance/agenda/Pages/default.aspx

Disclaimer
This press release is available in French and in English. In the event of any difference between the two versions, the original French version takes precedence. This press release may contain inside information. It was sent to Cegedim’s authorized distributor on October 24, 2024, no earlier than 5:45 pm Paris time.
The figures cited in this press release include guidance on Cegedim’s future financial performance targets. This forward-looking information is based on the opinions and assumptions of the Group’s senior management at the time this press release is issued and naturally entails risks and uncertainty. For more information on the risks facing Cegedim, please refer to Chapter 7, “Risk management”, section 7.2, “Risk factors and insurance”, and Chapter 3, “Overview of the financial year”, section 3.6, “Outlook”, of the 2023 Universal Registration Document filled with the AMF on April 3, 2024, under number D.24-0233.

About Cegedim:
Founded in 1969, Cegedim is an innovative technology and services group in the field of digital data flow management for healthcare ecosystems and B2B, and a business software publisher for healthcare and insurance professionals. Cegedim employs more than 6,500 people in more than 10 countries and generated revenue of €616 million in 2023.
Cegedim SA is listed in Paris (EURONEXT: CGM).
To learn more please visit: www.cegedim.fr
And follow Cegedim on X: @CegedimGroup, LinkedIn, and Facebook.

Aude Balleydier
Cegedim
Media Relations
and Communications Manager

Tel.: +33 (0)1 49 09 68 81
aude.balleydier@cegedim.fr

Damien Buffet
Cegedim
Head of Financial
Communication

Tel.: +33 (0)7 64 63 55 73
damien.buffet@cegedim.com

Céline Pardo
Becoming RP Agency
Media Relations Consultant

Tel.: +33 (0)6 52 08 13 66
cegedim@becoming-group.com

Annexes

Breakdown of revenue by quarter and division

Year 2024

In € million	Q1	Q2	Q3		Q4	Total
Software & Services	74.3	77.8		75.6		227.7
Flow	25.3	24.2		23.7		73.2
Data & Marketing	27.0	32.3		28.2		87.5
BPO	20.2	19.7		21.6		61.5
Cloud & Support	9.0	9.1		7.7		25.8
Group revenue	155.9	163.1		156.8		475.8

Year 2023

In € million	Q1 reclassified	Q2 reclassified	Q3 reclassified	Q4 reclassified	Total reclassified
Software & Services	74.4	76.2	76.0		226.6
Flow	24.0	22.8	22.4		69.2
Data & Marketing	24.6	30.3	24.1		79.0
BPO	14.4	18.4	19.0		51.8
Cloud & Support	8.4	7.4	6.8		22.6
Group revenue	145.9	155.1	148.3		449.4

Breakdown of revenue by geographic zone, currency and division at September 30, 2024

as a % of consolidated revenues	*Geographic zone*			*Currency*
as a % of consolidated revenues	France	EMEA ex. France	Americas	Euro	GBP	Other
Software & Services	82.8%	17.1%	0.1%	86.2%	12.0%	1.7%
Flow	91.9%	8.1%	0.0%	94.5%	5.5%	0.0%
Data & Marketing	97.9%	2.1%	0.0%	98.0%	0.0%	2.0%
BPO	100.0%	0.0%	0.0%	100.0%	0.0%	0.0%
Cloud & Support	99.9%	0.1%	0.0%	100.0%	0.0%	0.0%
Cegedim	90.1%	9.8%	0.1%	92.2%	6.6%	1.2%

¹As of January 1, 2024, our Cegedim Outsourcing and Audiprint subsidiaries—which were previously housed in the Software & Services division—as well as BSV—formerly of the Flow division—have been moved to the Cloud & Support division in order to capitalize on operating synergies between cloud activities and IT solutions integration.

²At constant scope and exchange rates. The positive currency impact of 0.2% was mainly due to the pound sterling. The positive scope effect of 1.8% was attributable to the first-time consolidation in Cegedim’s accounts of Visiodent starting March 1, 2024.The positive currency impact of 0.1% was mainly due to the pound sterling. The positive scope effect of 1.4% was attributable to the first-time consolidation in Cegedim’s accounts of Visiodent starting March 1, 2024.

³To take advantage of synergies, Cegedim Outsourcing, Audiprint, and BSV have been reassigned to the Cloud & Support division.At constant scope and exchange rates.

⁴To take advantage of synergies, Cegedim Outsourcing, Audiprint, and BSV have been reassigned to the Cloud & Support division.At constant scope and exchange rates.

Attachment

Cegedim_Revenue_3Q2024_ENG

The MIL Network –

January 25, 2025

MIL-OSI: WENDEL: Q3 2024 Trading Update

Source: GlobeNewswire (MIL-OSI)

PRESS RELEASE – OCTOBER 24, 2024

Fully diluted¹Net Asset Value of €184.5

up +13.7 %²year-to-date (+5.3% since June 30)

With the announced acquisition of Monroe Capital, Wendel dramatically expands its Asset Management platform and rebalances its business model towards more recurring cash flows and growth

Fully diluted Net Asset Value³as of September 30, 2024: €184.5 per share

Fully diluted NAV per share up +16.1%⁴ since the start of the year when restating for the €4 dividend paid in May 2024 reflecting:
- Strong increase in Bureau Veritas’ share price (+34% YTD)
- Slight decrease in value of non-listed assets
- Positive contribution of Asset Management activities (IK Partners), reflecting the increase in market multiples

Very active implementation of new strategic directions and active portfolio rotation

Principal Investment:
- €2.3 billion proceeds and value crystallization through the sale of 9% of Bureau Veritas’ share capital and the disposal of Constantia Flexibles
- €0.7 billion invested including €625 million in Globeducate, closed on October 16
Asset Management:
- €0.4 billion invested for the acquisition of 51% of IK Partners
- $1.13 billion will be invested in equity to acquire 75% of Monroe Capital, as announced on October 22, 2024 (closing expected in the first half of 2025)

Wendel Asset Management business is now a significant performance driver

Considering the announced acquisition of Monroe Capital, Wendel’s Asset Management platform will represent c.€31bn of AuM in private assets⁵
In 2025, Wendel AM business is expected to generate c.€160m⁶ of Fee Related Earnings (“FRE”) and c.€185m of total pre-tax profit in 2025
IK Partners Fee Paying AuM up +19% over the first 9 months of 2024

Consolidated 9M 2024 sales of €5,918.1 million, up +14.6% overall and +8.9% organically

Very strong organic growth at Bureau Veritas (+10.4% over 9 months)
Solid growth at CPI (+7.9%)
ACAMS (+8%) in total over 9 months, due to the earlier timing of a flagship conference than in 2023
Encouraging first 9 months for Stahl (+1.6% total growth), with Q3 (-4.7%) impacted by a mixed environment in its industry
Scalian: slight decrease of -0.2% over 9 months

Strong financial structure and committed to remain Investment Grade

Debt maturity of 3.9 years with an average cost of 2.4%
LTV ratio at -6.8% as of September 30, 2024, and 18.9%⁷ on a pro forma basis
Pro forma total liquidity of €1.4⁸ billion as of September 30, 2024, including €0.5 billion in cash and €875 million in committed credit facility (fully undrawn)

Laurent Mignon, Wendel Group CEO, commented:

“The first nine months of 2024 have been generating good value creation for shareholders, with fully diluted Net Asset Value growing by 13.7%, driven notably by Bureau Veritas’ strong stock price and operating performances.

We continue to enhance our cash flow generation and value creation profile, by executing our strategic plan with determination, rigor and financial discipline, as demonstrated by the Monroe Capital acquisition, announced two days ago, while also focusing on premium assets in our principal investment activities, highlighted by the recent acquisition of Globeducate.

Our transformation to a dual-strategy model is now well-grounded, with top partners in asset management such as IK Partners in private equity and now Monroe Capital in private credit.

Following the investment in Globeducate and the announced acquisition of Monroe Capital, the priorities of Wendel’s teams are to create value on existing assets, to successfully build the private asset management platform around IK Partners and Monroe Capital, and to maintain a solid financial structure.”

Wendel’s net asset value as of September 30, 2024: €184.5 per share on a fully diluted basis

Wendel’s Net Asset Value (NAV) as of September 30, 2024, was prepared by Wendel to the best of its knowledge and on the basis of market data available at this date and in compliance with its methodology.

Fully diluted Net Asset Value was €184.5 per share as of September 30, 2024 (see detail in the table below), as compared to €162.3 on December 31, 2023, representing an increase of +13.7% since the start of the year and +16.1% restated for the dividend paid in 2024. Compared to the last 20-day average share price as of September 30, the discount to the September 30, 2024, fully diluted NAV per share was -50.6%.

Bureau Veritas contributed very positively to the increase in Net Asset Value: on September 30, its 20-day average share price was up strongly (+34.3%) compared to December 31, 2023. Impacts from share price movements from IHS Towers (-30.0%) and Tarkett (-2.8%) were negligible given the weight of Bureau Veritas in the NAV. Total value creation per share of listed assets was therefore +€26.1 over the first nine months of 2024 on a fully diluted basis.

Unlisted assets’ contribution to the growth of the NAV was slightly negative over the first nine months of the year with a total change per share of -€1.2, reflecting a positive evolution of the market multiples and from bolt-on acquisitions, more than entirely offset by negative FX effect and selective downward revisions of outlooks for the current year (compared to December 31, 2023).

Asset management activities were consolidated and accounted in the NAV for the first time at the end of June following the acquisition of IK Partners. There is no sponsor money included in the NAV yet, as no capital has been called. IK Partners’ valuation is up by €1.5 per share over the third quarter, driven by positive market multiples evolution.

Cash operating costs and net financing results impacted NAV by -€1.2 over 9 months, as Wendel benefited from a positive carry. The impact of year-to-date share buybacks on fully diluted NAV per share is +€1.4 per share more as of September 30, 2024, than as of December 31, 2023. Other assets and liabilities impacted NAV by -€0.5.

Total Net Asset Value increase amounted to €26.2 per share over the first nine months of the year before dividend payment.

Fully diluted NAV per share of €184.5 as of September 30, 2024

(in millions of euros)			09/30/2024		12/31/2023
Listed investments	Number of shares	Share price ⁽¹⁾	3,800	3,867
Bureau Veritas	120.3m/160.8m	€29.9/€22.2	3,591	3,575
IHS	63.0m/63.0m	$3.1/$4.4	174	251
Tarkett		€8.9/€9.1	35	40
Investment in unlisted assets ⁽²⁾			3,158	4,360
Asset Management Activities ⁽³⁾			449	–
Other assets and liabilities of Wendel and holding companies ⁽⁴⁾			95	6
Net cash position & financial assets ⁽⁵⁾			3,027	1,286
Gross asset value			10,530	9,518
Wendel bond debt			-2,386	-2,401
IK Partners transaction deferred payment			-131	–
Net Asset Value			8,012	7,118
Of which net debt			509	-1,115
Number of shares			44,430,864	44,430,554
Net Asset Value per share			€180.3	€160.2
Wendel’s 20 days share price average			€91.1	€79.9
Premium (discount) on NAV			-49.5%	-50.1%
Number of shares – fully diluted			42,469,744	43,302,016
Fully diluted Net Asset Value, per share			€184.5	€162.3
Premium (discount) on fully diluted NAV			-50.6%	-50.8%

(1) Last 20 trading days average as of September 30, 2024, and December 31, 2023.

(2) Investments in unlisted companies (Stahl, Crisis Prevention Institute, ACAMS, Scalian, Wendel Growth as of September 30, 2024, also included Constantia Flexibles as of December 31, 2023). Aggregates retained for the calculation exclude the impact of IFRS16.

(3) IK Partners’ activity, no sponsor money has been called at this stage. It is therefore not included in the NAV at this stage.

(4) Of which 1,961,120 treasury shares as of September 30, 2024, and 1,128,538 treasury shares as of December 31, 2023.

(5) Cash position and financial assets of Wendel and holdings.

Assets and liabilities denominated in currencies other than the euro have been converted at exchange rates prevailing on the date of the NAV calculation.

If co-investment and management LTIP conditions are realized, subsequent dilutive effects on Wendel’s economic ownership are accounted for in NAV calculations. See page 246 of the 2023 Universal Registration Document.

Wendel’s Principal Investments’ portfolio rotation

Since the beginning of the year, Wendel has realized a total of €2.3 billion in disposals for its own account and has invested €0.7 billion, reflecting the acceleration of the diversification of its investment portfolio, in line with the strategy announced a few months ago:

Wendel announced on January 4, 2024, that it had completed the sale of Constantia Flexibles, generating total net proceeds⁹ for Wendel of €1,121 million for its shares, i.e. a valuation over 10% higher than the latest NAV on record before the announcement of the transaction (as at March 31, 2023).
Wendel announced on April 5, 2024, that it had successfully completed the sale of 40.5 million shares in Bureau Veritas, representing c.9% of the Company’s share capital, for total proceeds of approximately €1.1 billion. The transaction was carried out at a price of €27.127, or a discount of 3% from the previous day’s share price.
Wendel Growth realized its investment in Preligens, a leader in artificial intelligence (AI) for aerospace and defence, generating net proceeds to Wendel of c.€14.6M, translating into a gross IRR of 28%¹⁰. In addition, Wendel Growth announced on June 11, 2024, the acquisition of a minority stake in YesWeHack through an equity investment of €14.5 million.
Wendel reinvested €43.7m in Scalian upon the acquisition of MANNARINO Systems & Software on June 21, 2024. This Canadian company is a leading engineering services specialist for advanced technology R&D for the aviation sector, primarily in North America, with recognized expertise in safety-critical embedded software and systems.
On October 16, 2024, Wendel completed the acquisition of c.50% of Globeducate, one of the world’s leading international K-12 education groups, from Providence Equity Partners. Wendel invested €625 million of equity, at an Enterprise Value of c.€2 billion¹¹, to join Providence, and both firms will now own c.50% of the group.

Wendel’s Asset Management platform evolution

Acquisition of Monroe Capital dramatically expands Wendel’s Asset Management platform and rebalances its business model towards more recurring cash flows and growth

Wendel announced on October 22 that it had entered into a definitive partnership agreement including the acquisition of 75% of Monroe Capital LLC (“Monroe Capital” or “the Company”), and a sponsoring program of $800 million to accelerate Monroe Capital’s growth, and will invest in GP commitment for up to $200 million.

For Wendel, the acquisition of a controlling stake in Monroe Capital, a private credit market leader focused on the U.S. lower middle market that has established an outstanding track record, would represent a significant and transformational advancement of the strategy it announced in March 2023 to develop its third-party asset management platform to complement its longstanding Principal Investment business.

With IK Partners and Monroe Capital, Wendel’s third party asset management platform will reach c.€31 billion in AUM¹², c.€ 455 million revenues, c.€160 million pre-tax FRE (c.€101 million in pre-tax FRE (Wendel share) by 2025 and is expected to reach €150 million (Wendel share) in pre-tax FRE by 2027 through double-digit organic growth.

For more information, see the October 22, 2024, announcement on http://www.wendelgroup.com.

Third Party Asset Management value creation and performance

9 months 2024 performance

Over the first nine months of 2024, IK Partners had particularly strong activity, generating a total of €126.4 million in revenue. Total Assets under Management (€13.3 billion, of which €3.3 billion of Dry Powder¹³) grew by 20% since the beginning of the year, and FPAuM¹⁴ (€9.0 billion) by 19%. Over the period, €1.7 billion of new funds were raised (IK X, PFIII and IK SO) and 7 exits have been announced, for over €1.2 billion.

Sponsor money invested by Wendel

Wendel committed €400 million in IK Partners funds, of which €300 million in IK X. These commitments have not yet been called.

Principal Investment companies’ value creation and performance

Listed Assets: 36% of Gross Asset Value

Bureau Veritas – Strong Q3 2024 organic revenue growth; refocused portfolio with ongoing acquisitions acceleration, in line with the LEAP | 28 strategy; 2024 revenue outlook upgraded

(Full consolidation)

Revenue in the first nine months of 2024 totaled € 4,569.6 million, a 5.6% increase year-to-date.

Revenue in the third quarter of 2024 amounted to € 1,547.9 million, an 8.8% increase compared to Q3 2023. Organic growth achieved a strong 13.0%, which led to 10.5% on a 9-month basis. The scope effect was a positive 0.5%, reflecting bolt-on acquisitions (contributing to +1.1%) realized in the past few quarters and partly offset by the impact of small divestments completed over the last twelve months (contributing to -0.6%). Currency fluctuations had a negative impact of 4.7%, due to the strength of the euro against most currencies.

Three businesses delivered very strong organic growth: Marine & Offshore, up 13.2%, Industry, up 23.8%, and Certification, up 17.7%. Buildings & Infrastructure further recovered, up 9.3% organically in the third quarter (after 4.3% in the first half) while both Consumer Products Services and Agri Food & Commodities grew high-single digits organically, both reflecting improving market trends.

Based on the 9-month performance, leveraging a healthy and growing sales pipeline and strong underlying market growth, Bureau Veritas now expects to deliver for the full year 2024:

9 to 10% organic revenue growth (from “high single-digit” previously);
Improvement in adjusted operating margin at constant exchange rates;
Strong cash flow, with a cash conversion above 90%.

For more information: https://group.bureauveritas.com

Tarkett – Slight organic decrease year-to-date, with Q3 2024 solid organic sales growth of +2.4%, as Sports division grew at a sustained pace in the most important quarter of the year. Activity remained sluggish in flooring, particularly in EMEA and the CIS countries

(Equity method)

Revenue in the first nine months of 2024 amounted to €2,560.7 million, down by -1.2% compared to the same period of 2023, reflecting an organic decline of -0.4%. Sales prices remained stable over the financial year, i.e. -0.3% compared to the first nine months of 2023. In Q3 2024, Group net sales came to €1,002 million, up +1.8% compared to the third quarter of 2023. Organic growth reached +2.4%. Sales prices remained broadly stable over the year, with a slight decline of -0.5% compared to the third quarter of 2023.

For more information: https://www.tarkett-group.com/en/investors/

IHS Towers (not consolidated) – IHS Towers will report its Q3 2024 results in the coming weeks

Unlisted Assets: 30% of Gross Asset Value

	Sales (in millions)
	9 months 2023	9 months 2024
Stahl	€677.3	€687.9
CPI	$103.6	$112.0
ACAMS	$67.9	$76.8
Scalian	€402.2	€401.3

Stahl – Total sales up 1.6% for the first 9 months of 2024 on the back of Q3 market challenges in the leather market for automotive and luxury goods

(full consolidation) 

Stahl, the world leader in specialty coatings for flexible materials, posted total sales of €687.9 million in the first 9 months of 2024, representing a total increase of +1.6% over the period. Organically, sales were slightly down -0.4%, in a context of tougher markets in automotive and luxury goods, while FX contributed -1.3%. The acquisition of ICP Industrial Solutions Group (ISG) in March 2023 contributed positively (+3.3%) to total sales variation.

Stahl Q3 sales were down -4.7% (-3.1% organically and -1.6% due to FX) linked to the weaker market performance of the automotive and luxury goods sectors, notably in August, which was a particularly quiet month this year as many Italian tanneries were inactive for a four-week period due to reduced activity.

On September 27, Stahl completed the acquisition of WEILBURGER Coatings, a leading German-based manufacturer of water-based and energy cured coatings for the graphic arts and packaging industry. The transaction significantly strengthens Stahl’s packaging coatings division and supports its strategy to broaden its franchise for specialty coatings for flexible materials. This acquisition strengthens Stahl’s strategic position in Europe, positioning the company as the second-largest packaging coatings player in the region. WEILBURGER Coatings posted sales of €70 million in 2023 and has over 140 employees, primarily based in Germany.

Stahl also announced it maintained its Platinum EcoVadis rating for the third consecutive year, reaffirming its commitment to sustainability. In August, Stahl was awarded the Living Wage certification strengthening its commitment to fair compensation and employee well-being.

Crisis Prevention Institute reports +8.2% revenue as compared with 9M 2023

(full consolidation)

CPI recorded first nine months 2024 revenues of $112 million, up +8.2% compared to 9M 2023, or +8.1% organically (FX impact was +0.1%), resulting from the addition of new certified instructors across end markets and geographies, and strong consumption of training materials, signifying active training of broader staff throughout the Company’s primary customers in educational, healthcare and human services settings. The company’s year-to-date results include relatively flat year-over-year revenue for the third quarter, however, reflecting what management describes as a temporary, seasonal slowdown in new certified instructors and a difficult year-over-year comparison resulting from an unusually large enterprise program added in the third quarter of 2023.

2024 continues to be a pivotal year for CPI in growing its impact and reach, including further global expansion with the opening of its first office in the United Arab Emirates, and new program launches, including Reframing Behavior, a new certification program designed to help educators build a more positive, supportive learning environment and prevent disruptive classroom behavior. In addition, regulatory and legislative actions continue to provide support for workplace violence prevention programs and related training, including expanded requirements in New York, Texas and California during 2024.

ACAMS – ACAMS reports positive total growth amid accelerated transformation

(full consolidation)

ACAMS, the global leader in training and certifications for anti-money laundering and financial crime prevention professionals, reported year-to-date bookings of $78 million, roughly flat with reported bookings for the same period in 2023, and revenue of $77 million for the first nine months of 2024, representing 8% year-over-year growth. The results for the first nine months of 2024 reflect continued growth and market expansion in North America and Europe, largely offset by declines with customers in the Asia-Pacific region. As well, the year-to-date results include the impact of ACAMS’ flagship Las Vegas conference that was held in the third quarter of 2024 and fourth quarter of 2023. Excluding the impact of this timing difference would reduce year-over-year bookings and revenue growth for the nine months ending September 30, 2024, to -0.8% and +0.3%, respectively.

The Company has made considerable progress in its transformation this year. Having largely completed its separation and transition to a stand-alone, independent company in 2023, ACAMS has made many investments instrumental to the Company’s future growth, including organizational changes led by the CEO, Neil Sternthal, who joined ACAMS in early 2024 and subsequently added several executives, including a new Chief Financial Officer and a Chief Revenue Officer, investments in the Company’s technology platform, business analytics and sales organizations, and new product development, most notably with the planned introduction of its Certified Anti-Fraud Specialist (CAFS) certification.

Scalian – Slight decrease of total sales of -0.2% year-to-date, in a context of overall market slowdown

(full consolidation since July 2023.) 

Scalian, a European leader in digital transformation, project management and operational performance consulting, reported total revenues of €401.3 million over the first 9 months in a context of continued industry slowdown, in particular supply chain tensions in the aeronautic sector as well as the turndown of the European automotive sector. Sales are down by -2.5% organically and benefited from a positive scope effect of +2.3%.

Scalian announced the acquisition of Dulin Technology in January 2024, a Spanish-based consulting firm specializing in cybersecurity for the financial sector, and MANNARINO Systems & Software in June 2024, a Canadian-based company that is a leading engineering services specialist with a unique know-how in advanced technology R&D for the aviation sector.

Agenda

Friday, December 6, 2024,

2024 Investor Day.

Wednesday, February 26, 2025

Full-Year 2024 Results – Publication of NAV as of December 31, 2024, and Full-Year consolidated financial statements (post-market release)

Thursday, April 24, 2025

Q1 2025 Trading update – Publication of NAV as of March 31, 2025 (post-market release)

Thursday, May 15, 2025

Annual General Meeting

Wednesday, July 30, 2025

H1 2025 results – Publication of NAV as of June 30, 2025, and condensed Half-Year consolidated financial statements (post-market release)

Appendix 1: Nine-month 2024 sales of Group companies

Nine-month 2024 consolidated sales

(in millions of euros)	9-month 2023	9-month 2024	Δ	Organic Δ
Bureau Veritas	4,328.0	4,569.6	+5.6%	+10.4%
Stahl ⁽¹⁾	677.3	687.9	+1.6%	-0.4%
Scalian ⁽²⁾	n.a.	409.3	n.a.	n.a.
Crisis Prevention Institute	95.6	103.1	+7.9%	+8.1%
ACAMS ⁽³⁾	62.7	70.6	+12.6%	+8.6%
IK Partners⁽⁴⁾	n.a.	77.6	n.a.	n.a.
Consolidated net sales ⁽³⁾⁽⁴⁾	5,163.5	5,918.1	+14.6%	+8.9%

(1)   Acquisition of ICP Industrial Solutions Group (ISG) since March 2023 (sales’ contribution of €70.8M vs €62.7M as of 9M 2023)
(2)   Scalian has a different reporting date to Wendel. Consequently, sale’s contribution corresponds to 9 months’ sales between October 1st 2023 and June 30 2024.
(3)   The sales include a PPA restatement for an impact of -€0.5M (vs -€3.2M as of 9M 2023). Excluding this restatement, the sales amount to €71.3M vs. €66.1M as of 9M 2023. The total growth of +12.6% include a PPA effect of +4.5% and the conference revenue which generated $5,9M while this event occurred in Q4 2023 last year.
(4)   Contribution of five months of sales

Nine-month 2024 sales of equity accounted companies

(in millions of euros)	9-month 2023	9-month 2024	Δ	Organic Δ
Tarkett⁽⁵⁾	2,592.6	2,560.7	-1.2%	-0.4%

(5) Sales price adjustments in CIS countries are historically intended to compensate for currency movements and are therefore excluded from the “organic growth” indicator.

Q3 2024 sales of Group companies

Q3 2024 consolidated sales

(in millions of euros)	Q3 2023	Q3 2024	Δ	Organic Δ
Bureau Veritas	1,423.8	1,547.9	+8.8%	+13.0%
Stahl	234.3	223.3	-4.7%	-3.1%
Scalian ⁽¹⁾	n.a.	131.1	n.a.	n.a.
Crisis Prevention Institute	42.0	41.2	-1.8%	-1.0%
ACAMS ⁽²⁾	20.2	26.1	+29.1%	+28.6%
IK Partners	n.a.	44.2	n.a.	n.a.
Consolidated net sales	1,720.2	2,013.8	+17.1%	+10.6%

(1) Scalian has a different reporting date to Wendel. Consequently, sale’s contribution corresponds to 3 months’ sales between April 1st 2024 and June 30 2024.
(2) ACAMS Q3 2024 sales includes the conference which generated $5,9M, while this event occurred in Q4 2023 last year.

Q3 2024 sales of equity accounted companies

(in millions of euros)	Q3 2023	Q3 2024	Δ	Organic Δ
Tarkett⁽³⁾	984.3	1,002.0	+1.8%	+2.4%

(3) Sales price adjustments in CIS countries are historically intended to offset exchange rate movements, and are therefore excluded from the “organic growth” indicator.

¹ Fully-diluted NAV per share assumes all treasury shares are cancelled and a complementary liability is booked to account for all LTIP related securities in the money as of the valuation date.
² +13.7% compared with fully diluted NAV of €162.3 as of Dec. 31, 2023.
³ Fully diluted of share buybacks and treasury shares. Without adjusting for dilution, NAV stands at €8,012m and €180.3 per share.
⁴ Including the €4.0 per share dividend paid in 2024, and on a non-fully diluted basis NAV is up 15.0%.
⁵ As of September 2024.
⁶ c.€101m of FRE expected in 2025, Wendel share.

⁷ Proforma of Globeducate acquisition (€-625m), sponsor money commitment in IK (€-400m), IK Partners transaction deferred payment (€-131m), Monroe Capital 75% acquisition (including estimated earnout) and GP commitments in Monroe Capital ($-200m for 2025).

⁸ Proforma of Globeducate acquisition (€-625m), sponsor money commitment in IK (€-400m), IK Partners transaction deferred payment (€-131m), Monroe Capital 75% acquisition (including estimated earnout) and GP commitments in Monroe Capital ($-200m for 2025).

⁹ Net proceeds after ticking fees, financial debt, dilution to the benefit of the Company’s minority investors, transaction costs and other debt-like adjustments.
¹⁰ Gross IRR of 28%. Net IRR of 26%.
¹¹ EV including IFRS 16 impacts. Excluding IFRS 16, EV stands at c.€1.86 billion.
¹² As of September 2024

¹³ Commitments not yet invested

¹⁴ Fee Paying AuM

Attachment

Wendel_9M_2024_EN

The MIL Network –

January 25, 2025

MIL-OSI Europe: Address by President Viola Amherd at the open debate of the UN Security Council on women in peace processes

Source: Switzerland – Department of Defence, Civil Protection and Sport

Address by President Viola Amherd, head of the Federal Department of Defence, Civil Protection and Sport (DDPS), at the open debate of the UN Security Council on women in peace processes (Women, Peace, Security), New York, Thursday, 24 October 2024.

MIL OSI Europe News –

January 25, 2025
MIL-OSI United Kingdom: Local Government Association Conference

Source: United Kingdom – Executive Government & Departments

A speech from the Deputy Prime Minister

Location:

Harrogate

Delivered on:

24 October 2024 (Transcript of the speech, exactly as it was delivered)

Firstly, I want to say a massive thank you to you, some of our most dedicated, brilliant public servants in this room.

For everything that you do, every day, to keep our country going.

You’ve shown remarkable resilience through some tough – and very tough – years.

During the pandemic, you kept vital services running in our communities.

Through this period of economic instability, you’ve made tough choices to protect the most vulnerable.

And following a summer of violent far-right disorder, you stood up for the values of decency and community that define our country.

And time and again, you step forward to support your local communities.

Now, I understand that this conference was originally planned for just before the General Election.

I have to admit that I’m much happier to be stood here as your Deputy Prime Minister!

Last year in Bournemouth, I said that if we were elected, we would deliver a plan for change.

A new way of governing. A government of public service.

And just over 100 days into government and we are getting on with the job.

We’re fixing the foundations to build a country that works for working people.

And local government is at the heart of this vision.

Because as you all know, I am a creature of local government.

I loved my job as a home help for Stockport council.

And I learned the importance of a good local service, and what it meant to really know and trust your community.

Back then, local government wasn’t on its knees.

Don’t get me wrong, things weren’t easy.

But we had the time and resource to provide a good service.

I know that good, functioning local government looks like great working with a good central government working in genuine partnership to deliver better outcomes.

So I know we can’t deliver true change for Britain without the support of every one of you in this room.

We can’t deliver for our missions without you.

Take our plans to deliver 1.5 million homes, including a new generation of secure, social and affordable homes.

The delivery of safer streets, an NHS and social care system that’s back on its feet.

The sustained economic growth we need to raise living standards.

And the strong communities on which good lives are built.

That’s why, in my very first week in the job – as Secretary of State for Housing, Communities and Local Government – I put local government back where it belongs.

At the heart of my department’s name and mission. 

And I’m lucky I have Jim by my side, the Minister of State for Local Government – who has run a council and knows local government from the inside out – and he’s here with me today and as part of the team.

Louise, your new Chair, also represents the best of local government – a fierce commitment to public service and leadership steeped in years of experience – not too many years, but a few.

And the fact that her predecessor, Shaun, has now joined us in the House of Commons just goes to show we are a government that believes in the power of local government.

We know what’s possible when you give people with skin in the game the power to change lives.

And, after an incredibly difficult few years, it’s time to unleash that power.

Which means resetting our relationship with local government and rebuilding its foundations.

It means ditching the slogans and gimmicks and going back to basics: delivering services that people can rely on.

You don’t need me to tell you how much harder that job has been after fourteen years of neglect.

[Redacted political content]

Councils stuck in a doom loop with money pouring out of a system with too many cracks.

And it isn’t just the scandal of wasted money. It’s the heartache of the wasted lives and potential.

[Redacted political content]

For all the promises about localism and levelling up, there was an assumption that if something needed doing, it should be done from Whitehall.

With central government hoarding power, micromanaging you, intervening in an uncoordinated and unhelpful way.

A begging-bowl system of wasteful competitive pots that led to councils bidding to pay for chess tables in public parks.

No more.

We’re going to turn the page on this failed approach – bringing local government into the heart of government.

As part of a partnership based on honesty and respect.

And it’s in that spirit that we need to face up to the financial crisis facing local government.

We all know that there’s no quick fix.

The dire public finances – the £22 billion black hole – we’ve inherited mean that it’s going to take hard graft on all sides to get us back on the road to recovery.

We knew things were bad, but on entering office, we uncovered a shocking crisis in local government which was far beyond what we had anticipated.

Councils of all political stripes have been left shelling out millions to plaster over the government’s mismanagement.

[Redacted political content]

To make matters worse, we discovered that over the last decade, the last [Redacted political content] government ripped away any financial oversight of council spending, scrapping the Audit Commission and pushing councils to borrow more and more.

This reckless approach has left the government with no transparent system in place to warn the public when a council is struggling.

And more and more authorities are struggling to stay afloat with communities in the most deprived parts of our country disproportionately affected, through cuts to services that they desperately depend on, as people’s [inaudible] go up.

And get it.

And I know we need change urgently.

You’ve all heard me say it – I’m going provide multi-year funding settlements, that will give you the stability and certainty to plan and invest for the long-term.

And that we will end the Dragon’s Den-style bidding wars between councils for competitive funding pots.

Instead, we’ll show you some respect with long-term funding, giving you flexibility to spend it where it is needed. 

And through the next Local Government Finance Settlement and beyond, we will provide more detail on how this is going to work.

Let me be clear that we can’t fix the system overnight.

[Redacted political content]

And I have to say, looking at the numbers we inherited, I am shocked by the scale of neglect.

It is going to be a long, hard slog to get local government back on its feet.

And in the short term, we’re doing all that we can to protect severely struggling councils, which is why I can announce that we are scrapping the punitive ‘pay day loan’ premium on borrowing for councils in need of Exceptional Financial Support.

This government will take a collaborative and a constructive approach to councils in financial difficulty.

You know I can’t go into detail about the Spending Review.

So let me talk to you today about things that I can tell you.

Fundamentally, I want to work together, across central and local government to reform high-cost public services and focus on preventing people from needing them in the first place.

Tackling profiteering in broken markets serving vulnerable groups, like we’ve seen in some of the private children’s homes.

When it comes to prevention, there can be few bigger priorities for us than preventing homelessness – one of the biggest pressures that you face.

By getting Britain building again. Speeding up the planning system and reintroducing mandatory housing targets.

I know that this will mean asking more from local councils.

Which is why we’re boosting the number of planners.

As part of our plans, to strengthen local planning departments and reinforce planning obligations to deliver more affordable homes on new developments – we will support you to hold developers to account.

And it’s why we’re also reviewing Right to Buy, to stem the loss of precious council homes.

But we’ll also tackle homelessness directly, by learning lessons from the past and working with local leaders to take action on all forms of homelessness.

We will develop a cross-government strategy to get us back on track to end homelessness.

We will also reform the broken local audit system in England that we inherited.

This should be the bedrock of local accountability and transparency, of trust and confidence in local democracy.

Instead, last year, just one percent of local bodies were able to publish audited accounts by the deadline.

This cannot go on.

We have already taken decisive action to introduce backstop dates to clear the backlog in unaudited accounts.

Local audit will and must provide value for money for the taxpayers and be fit for the future.

And similarly, when the way councils are run has gone wrong, central government hasn’t always responded constructively.

Instead kicking councils when they’re down for political reasons.

This Labour government are going to do things differently.

We will work with every council that needs it to put in place clear, deliverable plans to address problems and protect local taxpayers, rather than treating them as political footballs.

That’s the approach we’re taking in Birmingham.

Significant challenges continue to face the city council, but we’re going to work with the councillors and the community to solve them in partnership.

Birmingham has huge potential – and we’re going to work closely with the partners across the West Midlands to unlock that potential, including with the Mayor Parker of the West Midlands Combined Authority.

And that’s the change that we represent.

Not punishment, but collaboration.

Getting places into a stable financial footing by, yes, making difficult decisions, but with the interests of residents at the heart.

Our aim is to support councils to perform at their very best.

Councillor conduct / standards framework

Standards in local government matter – both the delivery of services and personal conduct.

Every decision you make has an impact on the daily lives of those you serve.

And most councillors meet the highest standards of public office and I am so proud to be representing you in government.

But sadly we all know there are rare occasions where bad behaviour occurs.

I’ve been made aware of cases of persistent bullying and harassment by councillors, even, in some cases, leading to victims’ resignations.

We don’t have a system that protects victims or empowers councils to deal with unacceptable behaviour.

And this cannot go on and we will give councils the powers to address poor conduct.

We will consult on reforms to the local government standards framework, including a proposal to allow for the suspension of members who violate codes of conduct.

But we also recognise that too often, councillors become victims themselves.

Too often I speak to dedicated councillors who are facing death threats and intimidation.

And I take this very seriously and recognise the impact this has on the lives of dedicated public servants and their families.

That’s why we are taking decisive action to prevent councillors from being subjected to intimidation and harassment by removing the requirement for members’ home addresses to be published.

[And I want you to know] this is a government that respects and appreciates the huge contribution made by councillors who work tirelessly for residents – and we will always have your back.

We are also taking a more collaborative approach to pressing issues like the widespread workforce challenges you are experiencing.

Ninety-four per cent of councils say they’re having difficulties with recruitment and retention.

This isn’t just your problem – it’s all our problem because council staff are on the frontline serving local communities.

So, we’re ready to work hand in hand with you to find creative solutions to staffing issues.

We’ll launch a Workforce Development Group in partnership with the sector to gain a shared understanding of the most immediate priorities and focus our efforts on where we can add the most value to your work.

And when we say we’ll work in partnership with the sector, every step of the way, we mean it.

I have formally launched our new Leaders’ Council at this very conference – which will give local government a voice at the heart of government – this a mark of just how seriously we take this.

The Council will bring together local government leaders and ministers to tackle shared problems and deliver for the communities they all ultimately serve.

We will use it to learn from the exciting innovations that councils are pioneering.

And we hugely respect your knowledge and expertise.

But it’s more than that.

The Leaders’ Council will be critical for co-designing policy at the highest levels.

And I look forward to working closely with the Council over the coming years.

Gone are the day of diktats from above.

It is time for those with skin in the game to be put in the driving seat.

That is what our devolution agenda is all about.

We will make it easier for you to come together and form combined authorities and devolve more powers to existing ones – meaning access to new powers over skills, transport and employment support.

Our landmark English Devolution Bill will deliver our manifesto commitment to transfer power out of Whitehall, making devolution the default setting.

And look, I know the coming years won’t always be easy, but I’m confident that, working in partnership, we can fix the basics so that you can focus on the things that really matter to our and your communities.

My starting point is that we should be clear about what we ask of you and then give you the autonomy and the support you need to deliver.

So, where we don’t need to get involved, we won’t.

It’s not our place, for example, to decide whether councillors should attend your meetings remotely or use proxy votes when they need to.

So, I can announce today that we’re putting forward proposals to let councils make the decision for themselves.

Which means making it possible for people from all walks of life to have a stake in local democracy, whether they have caring responsibilities or aren’t able to make it to the town hall in person because of illness or disability.

It’s right that we make it easier for more people to get involved in making their community a great place to live.

It’s also right that we expect the highest standards of local government – with central government playing its part as a responsible steward.

And for me this is personal.

I’m passionate about backing you with the long-term funding and certainty that you need.

The powers you need.

And the new relationship that we all need.

So local government can once again be a strong, functioning arm of the state, providing public services that people can rely on.

And I want to thank you, once again, for everything that you do for our communities.

This is a government of service that is on your side.

And the road ahead won’t always be a smooth path, but we will walk it together and build a better Britain.

Thank you.

Updates to this page

Published 24 October 2024

MIL OSI United Kingdom –

January 25, 2025
MIL-OSI USA: Manchin Tours River Town Aviation and Aircraft, American Rescue Plan Funded Projects in Parkersburg

US Senate News:

Source: United States Senator for West Virginia Joe Manchin
October 23, 2024
Parkersburg, WV – Today, U.S. Senator Joe Manchin (I-WV) toured River Town Aviation and Aircraft’s newly-renovated hangar at the Mid-Ohio Valley Airport as well as three projects funded by the American Rescue Plan in Parkersburg, West Virginia.
“West Virginia has accomplished so much for the advancement of aviation, and I couldn’t be more optimistic about our future,” Senator Manchin said. “I am always so proud to see our West Virginia airports and flight programs, like River Town Aviation and Aircraft, expand and prosper.
“I’m pleased to see the incredible improvements that have been made to the Southwood Pool, the City Park Baseball Field, and the Fort Boreman Water & Sewer Site,” Senator Manchin continued. “The investments made by the American Rescue Plan are reinvigorating the city of Parkersburg and making this town a better place for all who live and visit here. I remain dedicated to fighting for West Virginia’s priorities and will do everything in my power to ensure we receive the resources we need to continue strengthening the Mountain State’s communities.”
Photos from the event are available here.

MIL OSI USA News –

January 25, 2025

MIL-OSI: Origin Bancorp, Inc. Reports Earnings For Third Quarter 2024

Source: GlobeNewswire (MIL-OSI)

RUSTON, La., Oct. 23, 2024 (GLOBE NEWSWIRE) — Origin Bancorp, Inc. (NYSE: OBK) (“Origin,” “we,” “our” or the “Company”), the holding company for Origin Bank (the “Bank”), today announced net income of $18.6 million, or $0.60 diluted earnings per share for the quarter ended September 30, 2024, compared to net income of $21.0 million, or $0.67 diluted earnings per share, for the quarter ended June 30, 2024. Pre-tax, pre-provision (“PTPP”)⁽¹⁾ earnings was $28.3 million for the quarter ended September 30, 2024, compared to $32.0 million for the linked quarter.

“I am pleased with the balance sheet trends we showed in the third quarter,” said Drake Mills, chairman, president and CEO of Origin Bancorp, Inc. “I am confident these trends will continue and our bankers will capitalize on opportunities throughout our markets.”

⁽¹⁾ PTPP earnings is a non-GAAP financial measure, please see the last few pages of this document for a reconciliation of this alternative financial measure to its most directly comparable GAAP measure.

Financial Highlights

Total loans held for investment (“LHFI”) were $7.96 billion at both September 30, 2024, and June 30, 2024. LHFI, excluding mortgage warehouse lines of credit (“MW LOC”), were $7.46 billion at September 30, 2024, reflecting an increase of $8.9 million, or 0.12%, compared to June 30, 2024.
Noninterest-bearing deposits were $1.89 billion at September 30, 2024, reflecting an increase of $27.1 million, or 1.5%, compared to June 30, 2024.
Net interest income was $74.8 million for the quarter ended September 30, 2024, reflecting an increase of $914,000, or 1.2%, compared to the linked quarter.
Our book value per common share was $36.76 as of September 30, 2024, reflecting an increase of $1.53, or 4.3%, compared to June 30, 2024. Tangible book value per common share⁽¹⁾ was $31.37 at September 30, 2024, reflecting an increase of $1.60, or 5.4%, compared to June 30, 2024.
Stockholders’ equity was $1.15 billion at September 30, 2024, reflecting an increase of $49.8 million, or 4.5%, compared to June 30, 2024.
At September 30, 2024, and June 30, 2024, the ratio of Company-level common equity Tier 1 capital to risk-weighted assets was 12.46%, and 12.15%, respectively, the Tier 1 leverage ratio was 10.93% and 10.70%, respectively, and the total capital ratio was 15.45% and 15.16%, respectively. The ratio of tangible common equity to tangible assets⁽¹⁾ was 9.98% at September 30, 2024, compared to 9.47% at June 30, 2024.

⁽¹⁾ Tangible book value per common share and tangible common equity to tangible assets are non-GAAP financial measures. Please see the last few pages of this document for a reconciliation of these alternative financial measures to their most directly comparable GAAP measures.

Results of Operations for the Three Months Ended September 30, 2024

Net Interest Income and Net Interest Margin

Net interest income for the quarter ended September 30, 2024, was $74.8 million, an increase of $914,000, or 1.2%, compared to the quarter ended June 30, 2024, $813,000 of which was driven by one additional day in the current quarter. Higher interest rates drove a net increase of $147,000 in net interest income, which was reflected in a $1.2 million increase in interest income earned on interest-earnings assets offset by a $1.1 million increase in interest expense paid on interest-bearing liabilities.

Higher interest rates on LHFI drove a $2.0 million increase in the yield for the quarter ended September 30, 2024, compared to the quarter ended June 30, 2024, $1.5 million of which was driven by real estate-based loans. The average rate on LHFI increased to 6.67% for the quarter ended September 30, 2024, compared to 6.58% for the quarter ended June 30, 2024. Higher interest rates on savings and interest-bearing transaction accounts drove a $1.1 million increase in interest expense, compared to the quarter ended June 30, 2024. The average rate on interest-bearing deposits increased to 4.01% for the quarter ended September 30, 2024, compared to 3.95% for the quarter ended June 30, 2024.

The Federal Reserve Board sets various benchmark rates, including the federal funds rate, and thereby influences the general market rates of interest, including the loan and deposit rates offered by financial institutions. The federal funds target rate range was reduced by 50 basis points on September 18, 2024, to a range of 4.75% to 5.00%, the first rate reduction since early 2020.

The NIM-FTE was 3.18% for the quarter ended September 30, 2024, representing a one- and a four-basis-point increase compared to the linked quarter and the prior year same quarter, respectively. The yield earned on interest-earning assets for the quarter ended September 30, 2024, was 6.09%, an increase of five and 40 basis points compared to the linked quarter and the prior year same quarter, respectively. The average rate paid on total interest-bearing liabilities for the quarter ended September 30, 2024, was 4.04%, representing a six- and 45-basis point increase compared to the linked quarter and the prior year same quarter, respectively.

As discussed in our June 30, 2024, Origin Bancorp, Inc. Earnings Release, we reversed $1.2 million of accrued loan interest during the quarter ended June 30, 2024, due to certain questioned activity involving a single banker, who has since been terminated, in our East Texas market. This reversal of accrued loan interest income negatively impacted the fully tax equivalent net interest margin (“NIM-FTE”) by five basis points for the linked quarter. Had we not experienced the reversal of the $1.2 million of accrued interest income during the quarter ended June 30, 2024, our NIM-FTE would have been 3.22% for the linked quarter, and we would have experienced a four-basis point decrease in our current NIM-FTE compared to the linked quarter. There was no equivalent interest income reversal during the current quarter and these loans remain on non-accrual.

Credit Quality

The table below includes key credit quality information:

	At and For the Three Months Ended									Change			% Change
(Dollars in thousands, unaudited)	September 30, 2024			June 30, 2024			September 30, 2023			Linked Quarter			Linked Quarter
Past due LHFI	$	38,838		$	66,276		$	20,347		$	(27,438	)	(41.4)%
Allowance for loan credit losses (“ALCL”)		95,989			100,865			95,177			(4,876	)	(4.8	)
Classified loans		107,486			118,254			64,021			(10,768	)	(9.1	)
Total nonperforming LHFI		64,273			75,812			31,608			(11,539	)	(15.2	)
Provision for credit losses		4,603			5,231			3,515			(628	)	(12.0	)
Net charge-offs		9,520			2,946			2,686			6,574		223.2
Credit quality ratios⁽¹⁾:
ALCL to nonperforming LHFI		149.35	%		133.05	%		301.12	%		16.30	%	N/A
ALCL to total LHFI		1.21			1.27			1.26			(0.06	)	N/A
ALCL to total LHFI, adjusted⁽²⁾		1.28			1.34			1.30			(0.06	)	N/A
Classified loans to total LHFI		1.35			1.49			0.85			(0.14	)	N/A
Nonperforming LHFI to LHFI		0.81			0.95			0.42			(0.14	)	N/A
Net charge-offs to total average LHFI (annualized)		0.48			0.15			0.14			0.33		N/A

___________________________

⁽¹⁾	Please see the Loan Data schedule at the back of this document for additional information.
⁽²⁾	The ALCL to total LHFI, adjusted, is calculated by excluding the ALCL for MW LOC loans from the total LHFI ALCL in the numerator and excluding the MW LOC loans from the LHFI in the denominator. Due to their low-risk profile, MW LOC loans require a disproportionately low allocation of the ALCL.

As discussed in our June 30, 2024, Origin Bancorp, Inc. Earnings Release, our credit metrics were negatively impacted by certain questioned activity involving a single banker, who has since been terminated, in our East Texas market. Our investigation of this activity remains ongoing and is not final; however, as a result of a forbearance agreement with one of our impacted customer relationships, our past due LHFI declined $26.4 million when compared to the quarter ended June 30, 2024. There was no material change in the level of our nonperforming or classified LHFI principal balances between the current quarter and the linked quarter as a result of the questioned activity. We continue to work with an outside forensic accounting firm to confirm the bank’s identification and reconciliation of the activity, targeting a conclusion of this analysis by the end of this year. At this time, we believe that any ultimate loss arising from the situation will not be material to our financial position.

Past due LHFI were $38.8 million for the quarter ended September 30, 2024, compared to $66.3 million at June 30, 2024. Of the $27.4 million decrease, $26.4 million were impacted by or related to the questioned activity. The remaining net decrease in past due LHFI was primarily due to charge-offs or payoffs in commercial and industrial past due loans during the quarter ended September 30, 2024.

Nonperforming LHFI decreased $11.5 million for the quarter reflecting a decrease in the percentage of nonperforming LHFI to LHFI to 0.81% compared to 0.95% for the linked quarter. The decrease in nonperforming loans was primarily driven by three commercial and industrial loan relationships totaling $14.6 million at June 30, 2024, $10.4 million of which were charged-off and $4.2 million were paid down during the current quarter.

Classified loans decreased $10.8 million to $107.5 million at September 30, 2024, reflecting 1.35% as a percentage of total LHFI, down 14 basis points from the linked quarter. The decrease in classified loans was primarily driven by the same three commercial and industrial loan relationships mentioned in the nonperforming loan paragraph directly above.

Noninterest Income

Noninterest income for the quarter ended September 30, 2024, was $16.0 million, a decrease of $6.5 million, or 28.8%, from the linked quarter. The decrease from the linked quarter was primarily driven by decreases of $5.2 million, $725,000 and $621,000 in the change in fair value of equity investments, mortgage banking revenue and other income, respectively.

The decrease in change in fair value of equity investments was due to a $5.2 million positive valuation adjustment on a non-marketable equity security recognized during the linked quarter with no comparable amount recognized during the current quarter.

The decrease in mortgage banking revenue was primarily due to an $833,000 combined decrease in the pipeline and interest rate lock commitment fair values during the current quarter compared to the linked quarter.

The decrease in other income was primarily due to an $818,000 gain on sale of bank property recognized in the linked quarter with no comparable amount recognized in the current quarter.

Noninterest Expense

Noninterest expense for the quarter ended September 30, 2024, was $62.5 million, a decrease of $1.9 million, or 2.9% from the linked quarter. The decrease was primarily driven by a decrease of $1.6 million and in other noninterest expense.

The decrease in other expenses resulted from recognizing contingent liabilities totaling approximately $1.2 million related to certain questioned activity involving a single banker, who has since been terminated, in our East Texas market, as described previously, in the linked quarter with no comparable liability incurred in the current quarter. Also, contributing to the quarter over quarter decline was a $357,000 decrease in corporate membership fees.

Financial Condition

Loans

Total LHFI were $7.96 billion at both September 30, 2024, and June 30, 2024, and reflected an increase of $388.7 million, or 5.1%, compared to September 30, 2023.
Total LHFI, excluding MW LOC, were $7.46 billion at September 30, 2024, representing an increase of $8.9 million, or 0.1%, from June 30, 2024, and an increase of $179.8 million, or 2.5%, from September 30, 2023.
During the quarter ended September 30, 2024, compared to the linked quarter, we experienced declines in construction/land/land development loans and MW LOC of $25.8 million and $11.3 million, respectively, partially offset by growth in multi-family real estate loans of $36.1 million.

Securities

Total securities were $1.18 billion at both September 30, 2024, and June 30, 2024, and reflected a decrease of $129.8 million, or 9.9%, compared to September 30, 2023.
Accumulated other comprehensive loss, net of taxes, primarily associated with the available for sale (“AFS”) portfolio, was $94.2 million at September 30, 2024, an improvement of $32.9 million, or 25.9%, from the linked quarter.
The weighted average effective duration for the total securities portfolio was 4.21 years as of September 30, 2024, compared to 4.28 years as of June 30, 2024.

Deposits

Total deposits at September 30, 2024, were $8.49 billion, a decrease of $24.3 million, or 0.3%, compared to the linked quarter, and represented an increase of $112.1 million, or 1.3%, from September 30, 2023. The decrease in the current quarter compared to the linked quarter was primarily due to a decrease of $205.2 million in brokered (which includes both brokered time and brokered interest-bearing demand) deposits. The decrease in brokered deposits was primarily replaced with customer deposits.
Excluding brokered deposits, total deposit increased $180.9 million, or 2.3%, to $8.05 billion, primarily due to increases of $87.0 million, $64.4 million and $27.1 million in money market deposits, interest-bearing demand deposits and noninterest-bearing demand deposits, respectively.
At September 30, 2024, noninterest-bearing deposits as a percentage of total deposits were 22.3%, compared to 21.9% and 24.0% at June 30, 2024, and September 30, 2023, respectively. Excluding brokered deposits, noninterest-bearing deposits as a percentage of total deposits were 23.5%, compared to 23.7% and 26.1% at June 30, 2024, and September 30, 2023, respectively.

Borrowings

FHLB advances and other borrowings at September 30, 2024, were $30.4 million, a decrease of $10.3 million, or 25.3%, compared to the linked quarter and represented an increase of $18.2 million, or 149.3%, from September 30, 2023.

Stockholders’ Equity

Stockholders’ equity was $1.15 billion at September 30, 2024, an increase of $49.8 million, or 4.5%, compared to $1.10 billion at June 30, 2024, and an increase of $146.7 million, or 14.7%, compared to September 30, 2023.
The increase in stockholders’ equity from the linked quarter is primarily due to a decrease in accumulated other comprehensive loss of $32.9 million and net income of $18.6 million, partially offset by dividends declared of $4.8 million during the current quarter.

Conference Call

Origin will hold a conference call to discuss its third quarter 2024 results on Thursday, October 24, 2024, at 8:00 a.m. Central Time (9:00 a.m. Eastern Time). To participate in the live conference call, please dial +1 (929) 272-1574 (U.S. Local / International 1); +1 (857) 999-3259 (U.S. Local / International 2); +1 (800) 528-1066 (U.S. Toll Free), enter Conference ID: 84865 and request to be joined into the Origin Bancorp, Inc. (OBK) call. A simultaneous audio-only webcast may be accessed via Origin’s website at www.origin.bank under the investor relations, News & Events, Events & Presentations link or directly by visiting https://dealroadshow.com/e/ORIGINQ324.

If you are unable to participate during the live webcast, the webcast will be archived on the Investor Relations section of Origin’s website at www.origin.bank, under Investor Relations, News & Events, Events & Presentations.

About Origin

Origin Bancorp, Inc. is a financial holding company headquartered in Ruston, Louisiana. Origin’s wholly owned bank subsidiary, Origin Bank, was founded in 1912 in Choudrant, Louisiana. Deeply rooted in Origin’s history is a culture committed to providing personalized relationship banking to businesses, municipalities, and personal clients to enrich the lives of the people in the communities it serves. Origin provides a broad range of financial services and currently operates more than 60 locations from Dallas/Fort Worth, East Texas, Houston, North Louisiana, Mississippi, South Alabama and the Florida Panhandle. For more information, visit www.origin.bank.

Non-GAAP Financial Measures

Origin reports its results in accordance with generally accepted accounting principles in the United States of America (“GAAP”). However, management believes that certain supplemental non-GAAP financial measures may provide meaningful information to investors that is useful in understanding Origin’s results of operations and underlying trends in its business. However, non-GAAP financial measures are supplemental and should be viewed in addition to, and not as an alternative for, Origin’s reported results prepared in accordance with GAAP. The following are the non-GAAP measures used in this release: PTPP earnings, adjusted NIM-FTE, PTPP ROAA, tangible book value per common share, adjusted tangible book value per common share, tangible common equity to tangible assets, ROATCE, and core efficiency ratio.

Please see the last few pages of this release for reconciliations of non-GAAP measures to the most directly comparable financial measures calculated in accordance with GAAP.

Forward-Looking Statements

This press release contains certain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements include information regarding Origin’s future financial performance, business and growth strategies, projected plans and objectives, and any expected purchases of its outstanding common stock, and related transactions and other projections based on macroeconomic and industry trends, including changes to interest rates by the Federal Reserve and the resulting impact on Origin’s results of operations, estimated forbearance amounts and expectations regarding the Company’s liquidity, including in connection with advances obtained from the FHLB, which are all subject to change and may be inherently unreliable due to the multiple factors that impact broader economic and industry trends, and any such changes may be material. Such forward-looking statements are based on various facts and derived utilizing important assumptions and current expectations, estimates and projections about Origin and its subsidiaries, any of which may change over time and some of which may be beyond Origin’s control. Statements or statistics preceded by, followed by or that otherwise include the words “assumes,” “anticipates,” “believes,” “estimates,” “expects,” “foresees,” “intends,” “plans,” “projects,” and similar expressions or future or conditional verbs such as “could,” “may,” “might,” “should,” “will,” and “would” and variations of such terms are generally forward-looking in nature and not historical facts, although not all forward-looking statements include the foregoing words. Further, certain factors that could affect Origin’s future results and cause actual results to differ materially from those expressed in the forward-looking statements include, but are not limited to: the impact of current and future economic conditions generally and in the financial services industry, nationally and within Origin’s primary market areas, including the effects of declines in the real estate market, high-profile bank failures, high unemployment rates, inflationary pressures, elevated interest rates and slowdowns in economic growth, as well as the financial stress on borrowers and changes to customer and client behavior as a result of the foregoing; changes in benchmark interest rates and the resulting impacts on net interest income; deterioration of Origin’s asset quality; factors that can impact the performance of Origin’s loan portfolio, including real estate values and liquidity in Origin’s primary market areas; the financial health of Origin’s commercial borrowers and the success of construction projects that Origin finances; changes in the value of collateral securing Origin’s loans; developments in our mortgage banking business, including loan modifications, general demand, and the effects of judicial or regulatory requirements or guidance; Origin’s ability to anticipate interest rate changes and manage interest rate risk (including the impact of higher interest rates on macroeconomic conditions, competition, and the cost of doing business and the impact of prolonged elevated interest rates on our financial projections, models and guidance); the effectiveness of Origin’s risk management framework and quantitative models; Origin’s inability to receive dividends from Origin Bank and to service debt, pay dividends to Origin’s common stockholders, repurchase Origin’s shares of common stock and satisfy obligations as they become due; the impact of labor pressures; changes in Origin’s operation or expansion strategy or Origin’s ability to prudently manage its growth and execute its strategy; changes in management personnel; Origin’s ability to maintain important customer relationships, reputation or otherwise avoid liquidity risks; increasing costs as Origin grows deposits; operational risks associated with Origin’s business; significant turbulence or a disruption in the capital or financial markets and the effect of market disruption and interest rate volatility on our investment securities; increased competition in the financial services industry, particularly from regional and national institutions, as well as from fintech companies; difficult market conditions and unfavorable economic trends in the United States generally, and particularly in the market areas in which Origin operates and in which its loans are concentrated; Origin’s level of nonperforming assets and the costs associated with resolving any problem loans including litigation and other costs; the credit risk associated with the substantial amount of commercial real estate, construction and land development, and commercial loans in Origin’s loan portfolio; changes in laws, rules, regulations, interpretations or policies relating to financial institutions, and potential expenses associated with complying with such regulations; periodic changes to the extensive body of accounting rules and best practices; further government intervention in the U.S. financial system; a deterioration of the credit rating for U.S. long-term sovereign debt or actions that the U.S. government may take to avoid exceeding the debt ceiling; a potential U.S. federal government shutdown and the resulting impacts; compliance with governmental and regulatory requirements, including the Dodd-Frank Wall Street Reform and Consumer Protection Act and others relating to banking, consumer protection, securities, and tax matters; Origin’s ability to comply with applicable capital and liquidity requirements, including its ability to generate liquidity internally or raise capital on favorable terms, including continued access to the debt and equity capital markets; changes in the utility of Origin’s non-GAAP liquidity measurements and its underlying assumptions or estimates; possible changes in trade, monetary and fiscal policies, laws and regulations and other activities of governments, agencies and similar organizations; natural disasters and adverse weather events, acts of terrorism, an outbreak of hostilities (including the impacts related to or resulting from Russia’s military action in Ukraine or the conflict in Israel and surrounding areas, including the imposition of additional sanctions and export controls, as well as the broader impacts to financial markets and the global macroeconomic and geopolitical environments), regional or national protests and civil unrest (including any resulting branch closures or property damage), widespread illness or public health outbreaks or other international or domestic calamities, and other matters beyond Origin’s control; the impact of generative artificial intelligence; fraud or misconduct by internal or external actors (including Origin employees) which Origin may not be able to prevent, detect or mitigate, system failures, cybersecurity threats or security breaches and the cost of defending against them; Origin’s ability to maintain adequate internal controls over financial and non-financial reporting; and potential claims, damages, penalties, fines, costs and reputational damage resulting from pending or future litigation, regulatory proceedings and enforcement actions. For a discussion of these and other risks that may cause actual results to differ from expectations, please refer to the sections titled “Cautionary Note Regarding Forward-Looking Statements” and “Risk Factors” in Origin’s most recent Annual Report on Form 10-K filed with the Securities and Exchange Commission and any updates to those sections set forth in Origin’s subsequent Quarterly Reports on Form 10-Q and Current Reports on Form 8-K. If one or more events related to these or other risks or uncertainties materialize, or if Origin’s underlying assumptions prove to be incorrect, actual results may differ materially from what Origin anticipates. Accordingly, you should not place undue reliance on any forward-looking statements. Any forward-looking statement speaks only as of the date on which it is made, and Origin does not undertake any obligation to publicly update or review any forward-looking statement, whether as a result of new information, future developments or otherwise.

New risks and uncertainties arise from time to time, and it is not possible for Origin to predict those events or how they may affect Origin. In addition, Origin cannot assess the impact of each factor on Origin’s business or the extent to which any factor, or combination of factors, may cause actual results to differ materially from those contained in any forward-looking statements. All forward-looking statements, expressed or implied, included in this communication are expressly qualified in their entirety by this cautionary statement. This cautionary statement should also be considered in connection with any subsequent written or oral forward-looking statements that Origin or persons acting on Origin’s behalf may issue. Annualized, pro forma, adjusted, projected, and estimated numbers are used for illustrative purposes only, are not forecasts, and may not reflect actual results.

Contact:

Investor Relations
Chris Reigelman
318-497-3177
chris@origin.bank

Media Contact
Ryan Kilpatrick
318-232-7472
rkilpatrick@origin.bank

Origin Bancorp, Inc.
Selected Quarterly Financial Data
(Unaudited)

	Three Months Ended
	September 30, 2024			June 30, 2024			March 31, 2024			December 31, 2023			September 30, 2023

Income statement and share amounts	(Dollars in thousands, except per share amounts)
Net interest income	$	74,804		$	73,890		$	73,323		$	72,989		$	74,130
Provision for credit losses		4,603			5,231			3,012			2,735			3,515
Noninterest income		15,989			22,465			17,255			8,196			18,119
Noninterest expense		62,521			64,388			58,707			60,906			58,663
Income before income tax expense		23,669			26,736			28,859			17,544			30,071
Income tax expense		5,068			5,747			6,227			4,119			5,758
Net income	$	18,601		$	20,989		$	22,632		$	13,425		$	24,313
PTPP earnings⁽¹⁾	$	28,272		$	31,967		$	31,871		$	20,279		$	33,586
Basic earnings per common share		0.60			0.68			0.73			0.43			0.79
Diluted earnings per common share		0.60			0.67			0.73			0.43			0.79
Dividends declared per common share		0.15			0.15			0.15			0.15			0.15
Weighted average common shares outstanding – basic		31,130,293			31,042,527			30,981,333			30,898,941			30,856,649
Weighted average common shares outstanding – diluted		31,239,877			31,131,829			31,078,910			30,995,354			30,943,860

Balance sheet data
Total LHFI	$	7,956,790		$	7,959,171		$	7,900,027		$	7,660,944		$	7,568,063
Total LHFI excluding MW LOC		7,461,602			7,452,666			7,499,032			7,330,978			7,281,770
Total assets		9,965,986			9,947,182			9,892,379			9,722,584			9,733,303
Total deposits		8,486,568			8,510,842			8,505,464			8,251,125			8,374,488
Total stockholders’ equity		1,145,673			1,095,894			1,078,853			1,062,905			998,945

Performance metrics and capital ratios
Yield on LHFI		6.67	%		6.58	%		6.58	%		6.46	%		6.35	%
Yield on interest-earnings assets		6.09			6.04			5.99			5.86			5.69
Cost of interest-bearing deposits		4.01			3.95			3.85			3.71			3.47
Cost of total deposits		3.14			3.08			2.99			2.84			2.61
NIM – fully tax equivalent (“FTE”)		3.18			3.17			3.19			3.19			3.14
Return on average assets (annualized) (“ROAA”)		0.74			0.84			0.92			0.55			0.96
PTPP ROAA (annualized)⁽¹⁾		1.13			1.28			1.30			0.82			1.33
Return on average stockholders’ equity (annualized) (“ROAE”)		6.57			7.79			8.57			5.26			9.52
Book value per common share	$	36.76		$	35.23		$	34.79		$	34.30		$	32.32
Tangible book value per common share⁽¹⁾		31.37			29.77			29.24			28.68			26.78
Adjusted tangible book value per common share⁽¹⁾		34.39			33.86			33.27			32.59			32.37
Return on average tangible common equity (annualized) (“ROATCE”)⁽¹⁾		7.74	%		9.25	%		10.24	%		6.36	%		11.48	%
Efficiency ratio⁽²⁾		68.86			66.82			64.81			75.02			63.59
Core efficiency ratio⁽¹⁾		67.48			65.55			65.24			70.55			60.49
Common equity tier 1 to risk-weighted assets⁽³⁾		12.46			12.15			11.97			11.83			11.46
Tier 1 capital to risk-weighted assets⁽³⁾		12.64			12.33			12.15			12.01			11.64
Total capital to risk-weighted assets⁽³⁾		15.45			15.16			14.98			15.02			14.61
Tier 1 leverage ratio⁽³⁾		10.93			10.70			10.66			10.50			10.00

__________________________

⁽¹⁾	PTPP earnings, PTPP ROAA, tangible book value per common share, adjusted tangible book value per common share, ROATCE, and core efficiency ratio are either non-GAAP financial measures or use a non-GAAP contributor in the formula. For a reconciliation of these alternative financial measures to their most directly comparable GAAP measures, please see the last few pages of this release.
⁽²⁾	Calculated by dividing noninterest expense by the sum of net interest income plus noninterest income.
⁽³⁾	September 30, 2024, ratios are estimated and calculated at the Company level, which is subject to the capital adequacy requirements of the Federal Reserve Board.

Origin Bancorp, Inc.
Selected Year-To-Date Financial Data
(Unaudited)

	Nine Months Ended September 30,
(Dollars in thousands, except per share amounts)		2024			2023

Income statement and share amounts
Net interest income	$	222,017		$	226,568
Provision for credit losses		12,846			14,018
Noninterest income		55,709			50,139
Noninterest expense		185,616			174,310
Income before income tax expense		79,264			88,379
Income tax expense		17,042			18,004
Net income	$	62,222		$	70,375
PTPP earnings⁽¹⁾	$	92,110		$	102,397
Basic earnings per common share		2.00			2.29
Diluted earnings per common share		2.00			2.28
Dividends declared per common share		0.45			0.45
Weighted average common shares outstanding – basic		31,051,672			30,797,399
Weighted average common shares outstanding – diluted		31,160,867			30,903,222

Performance metrics
Yield on LHFI		6.61	%		6.19	%
Yield on interest-earning assets		6.04			5.50
Cost of interest-bearing deposits		3.94			3.03
Cost of total deposits		3.07			2.22
NIM-FTE		3.18			3.24
Adjusted NIM-FTE⁽²⁾		3.18			3.21
ROAA (annualized)		0.84			0.94
PTPP ROAA (annualized)⁽¹⁾		1.24			1.37
ROAE (annualized)		7.62			9.45
ROATCE (annualized)⁽¹⁾		9.04			11.47
Efficiency ratio⁽³⁾		66.83			62.99
Core efficiency ratio⁽¹⁾		66.09			59.94

____________________________

⁽¹⁾	PTPP earnings, PTPP ROAA, ROATCE, and core efficiency ratio are either non-GAAP financial measures or use a non-GAAP contributor in the formula. For a reconciliation of these alternative financial measures to their most directly comparable GAAP measures, please see the last few pages of this release.
⁽²⁾	Adjusted NIM-FTE is a non-GAAP financial measure and is calculated for nine months ended September 30, 2024, by removing the $20,000 net purchase accounting amortization from net interest income. And, for the nine months ended September 30, 2023, by removing the $2.2 million net purchase accounting accretion from net interest income.
⁽³⁾	Calculated by dividing noninterest expense by the sum of net interest income plus noninterest income.

Origin Bancorp, Inc.
Consolidated Quarterly Statements of Income
(Unaudited)

	Three Months Ended
	September 30, 2024		June 30, 2024		March 31, 2024			December 31, 2023			September 30, 2023

Interest and dividend income	(Dollars in thousands, except per share amounts)
Interest and fees on loans	$	133,195	$	129,879	$	127,186		$	123,673		$	121,204
Investment securities-taxable		6,536		6,606		6,849			7,024			8,194
Investment securities-nontaxable		905		893		910			1,124			1,281
Interest and dividend income on assets held in other financial institutions		3,621		4,416		3,756			3,664			4,772
Total interest and dividend income		144,257		141,794		138,701			135,485			135,451
Interest expense
Interest-bearing deposits		67,051		65,469		62,842			59,771			55,599
FHLB advances and other borrowings		482		514		518			220			3,207
Subordinated indebtedness		1,920		1,921		2,018			2,505			2,515
Total interest expense		69,453		67,904		65,378			62,496			61,321
Net interest income		74,804		73,890		73,323			72,989			74,130
Provision for credit losses		4,603		5,231		3,012			2,735			3,515
Net interest income after provision for credit losses		70,201		68,659		70,311			70,254			70,615
Noninterest income
Insurance commission and fee income		6,928		6,665		7,725			5,446			6,443
Service charges and fees		4,664		4,862		4,688			4,889			4,621
Other fee income		2,114		2,404		2,247			2,118			2,006
Mortgage banking revenue (loss)		1,153		1,878		2,398			(719	)		892
Swap fee income		106		44		57			196			366
Gain (loss) on sales of securities, net		221		—		(403	)		(4,606	)		(7,173	)
Change in fair value of equity investments		—		5,188		—			—			10,096
Other income		803		1,424		543			872			868
Total noninterest income		15,989		22,465		17,255			8,196			18,119
Noninterest expense
Salaries and employee benefits		38,491		38,109		35,818			35,931			34,624
Occupancy and equipment, net		6,298		7,009		6,645			6,912			6,790
Data processing		3,470		3,468		3,145			3,062			2,775
Office and operations		2,984		3,072		2,502			2,947			2,868
Intangible asset amortization		1,905		2,137		2,137			2,259			2,264
Regulatory assessments		1,791		1,842		1,734			1,860			1,913
Advertising and marketing		1,449		1,328		1,444			1,690			1,371
Professional services		2,012		1,303		1,231			1,440			1,409
Loan-related expenses		751		1,077		905			1,094			1,220
Electronic banking		1,308		1,238		1,239			1,103			1,384
Franchise tax expense		721		815		477			942			520
Other expenses		1,341		2,990		1,430			1,666			1,525
Total noninterest expense		62,521		64,388		58,707			60,906			58,663
Income before income tax expense		23,669		26,736		28,859			17,544			30,071
Income tax expense		5,068		5,747		6,227			4,119			5,758
Net income	$	18,601	$	20,989	$	22,632		$	13,425		$	24,313
Basic earnings per common share	$	0.60	$	0.68	$	0.73		$	0.43		$	0.79
Diluted earnings per common share		0.60		0.67		0.73			0.43			0.79

Origin Bancorp, Inc.
Consolidated Balance Sheets
(Unaudited)

(Dollars in thousands)	September 30, 2024			June 30, 2024			March 31, 2024			December 31, 2023			September 30, 2023
Assets
Cash and due from banks	$	159,337		$	137,615		$	98,147		$	127,278		$	141,705
Interest-bearing deposits in banks		161,854			150,435			193,365			153,163			163,573
Total cash and cash equivalents		321,191			288,050			291,512			280,441			305,278
Securities:
AFS		1,160,965			1,160,048			1,190,922			1,253,631			1,290,839
Held to maturity, net of allowance for credit losses		11,096			11,616			11,651			11,615			10,790
Securities carried at fair value through income		6,533			6,499			6,755			6,808			6,772
Total securities		1,178,594			1,178,163			1,209,328			1,272,054			1,308,401
Non-marketable equity securities held in other financial institutions		67,068			64,010			53,870			55,190			63,842
Loans held for sale		7,631			18,291			14,975			16,852			14,944
Loans		7,956,790			7,959,171			7,900,027			7,660,944			7,568,063
Less: ALCL		95,989			100,865			98,375			96,868			95,177
Loans, net of ALCL		7,860,801			7,858,306			7,801,652			7,564,076			7,472,886
Premises and equipment, net		126,751			121,562			120,931			118,978			111,700
Mortgage servicing rights		—			—			—			15,637			19,189
Cash surrender value of bank-owned life insurance		40,602			40,365			40,134			39,905			39,688
Goodwill		128,679			128,679			128,679			128,679			128,679
Other intangible assets, net		39,272			41,177			43,314			45,452			42,460
Accrued interest receivable and other assets		195,397			208,579			187,984			185,320			226,236
Total assets	$	9,965,986		$	9,947,182		$	9,892,379		$	9,722,584		$	9,733,303
Liabilities and Stockholders’ Equity
Noninterest-bearing deposits	$	1,893,767		$	1,866,622		$	1,887,066		$	1,919,638		$	2,008,671
Interest-bearing deposits excluding brokered interest-bearing deposits		5,137,940			4,984,817			4,990,632			4,918,597			4,728,263
Time deposits		1,023,252			1,022,589			1,030,656			967,901			968,352
Brokered deposits		431,609			636,814			597,110			444,989			669,202
Total deposits		8,486,568			8,510,842			8,505,464			8,251,125			8,374,488
FHLB advances and other borrowings		30,446			40,737			13,158			83,598			12,213
Subordinated indebtedness		159,861			159,779			160,684			194,279			196,825
Accrued expenses and other liabilities		143,438			139,930			134,220			130,677			150,832
Total liabilities		8,820,313			8,851,288			8,813,526			8,659,679			8,734,358
Stockholders’ equity:
Common stock		155,837			155,543			155,057			154,931			154,534
Additional paid-in capital		535,662			532,950			530,380			528,578			525,434
Retained earnings		548,419			534,585			518,325			500,419			491,706
Accumulated other comprehensive loss		(94,245	)		(127,184	)		(124,909	)		(121,023	)		(172,729	)
Total stockholders’ equity		1,145,673			1,095,894			1,078,853			1,062,905			998,945
Total liabilities and stockholders’ equity	$	9,965,986		$	9,947,182		$	9,892,379		$	9,722,584		$	9,733,303

Origin Bancorp, Inc.
Loan Data
(Unaudited)

	At and For the Three Months Ended
	September 30, 2024			June 30, 2024			March 31, 2024			December 31, 2023			September 30, 2023

LHFI	(Dollars in thousands)
Owner occupied commercial real estate	$	991,671		$	959,850		$	948,624		$	953,822		$	932,109
Non-owner occupied commercial real estate		1,533,093			1,563,152			1,472,164			1,488,912			1,503,782
Construction/land/land development		991,545			1,017,389			1,168,597			1,070,225			1,076,756
Residential real estate – single family		1,414,013			1,421,027			1,373,532			1,373,696			1,338,382
Multi-family real estate		434,317			398,202			359,765			361,239			349,787
Total real estate loans		5,364,639			5,359,620			5,322,682			5,247,894			5,200,816
Commercial and industrial		2,074,037			2,070,947			2,154,151			2,059,460			2,058,073
MW LOC		495,188			506,505			400,995			329,966			286,293
Consumer		22,926			22,099			22,199			23,624			22,881
Total LHFI		7,956,790			7,959,171			7,900,027			7,660,944			7,568,063
Less: ALCL		95,989			100,865			98,375			96,868			95,177
LHFI, net	$	7,860,801		$	7,858,306		$	7,801,652		$	7,564,076		$	7,472,886

Nonperforming assets⁽¹⁾
Nonperforming LHFI
Commercial real estate	$	2,776		$	2,196		$	4,474		$	786		$	942
Construction/land/land development		26,291			26,336			383			305			235
Residential real estate⁽²⁾		14,313			13,493			14,918			13,037			13,236
Commercial and industrial		20,486			33,608			20,560			15,897			17,072
Consumer		407			179			104			90			123
Total nonperforming loans		64,273			75,812			40,439			30,115			31,608
Repossessed assets		6,043			6,827			3,935			3,929			3,939
Total nonperforming assets	$	70,316		$	82,639		$	44,374		$	34,044		$	35,547
Classified assets	$	113,529		$	125,081		$	88,152		$	84,474		$	67,960
Past due LHFI⁽³⁾		38,838			66,276			32,835			26,043			20,347

Allowance for loan credit losses
Balance at beginning of period	$	100,865		$	98,375		$	96,868		$	95,177		$	94,353
Provision for loan credit losses		4,644			5,436			4,089			3,582			3,510
Loans charged off		11,226			3,706			6,683			3,803			3,202
Loan recoveries		1,706			760			4,101			1,912			516
Net charge-offs		9,520			2,946			2,582			1,891			2,686
Balance at end of period	$	95,989		$	100,865		$	98,375		$	96,868		$	95,177

Credit quality ratios
Total nonperforming assets to total assets		0.71	%		0.83	%		0.45	%		0.35	%		0.37	%
Nonperforming LHFI to LHFI		0.81			0.95			0.51			0.39			0.42
Past due LHFI to LHFI		0.49			0.83			0.42			0.34			0.27
ALCL to nonperforming LHFI		149.35			133.05			243.27			321.66			301.12
ALCL to total LHFI		1.21			1.27			1.25			1.26			1.26
ALCL to total LHFI, adjusted⁽⁴⁾		1.28			1.34			1.30			1.31			1.30
Net charge-offs to total average LHFI (annualized)		0.48			0.15			0.13			0.10			0.14

____________________________

⁽¹⁾	Nonperforming assets consist of nonperforming/nonaccrual loans and property acquired through foreclosures or repossession, as well as bank-owned property not in use and listed for sale.
⁽²⁾	Includes multi-family real estate.
⁽³⁾	Past due LHFI are defined as loans 30 days or more past due.
⁽⁴⁾	The ALCL to total LHFI, adjusted is calculated by excluding the ALCL for MW LOC loans from the total LHFI ALCL in the numerator and excluding the MW LOC loans from the LHFI in the denominator. Due to their low-risk profile, MW LOC loans require a disproportionately low allocation of the ALCL.

Origin Bancorp, Inc.
Average Balances and Yields/Rates
(Unaudited)

	Three Months Ended
	September 30, 2024				June 30, 2024				September 30, 2023
	Average Balance		Yield/Rate		Average Balance		Yield/Rate		Average Balance		Yield/Rate

Assets	(Dollars in thousands)
Commercial real estate	$	2,507,566	5.93	%	$	2,497,490	5.91	%	$	2,428,969	5.73	%
Construction/land/land development		1,019,302	7.37			1,058,972	6.98			1,044,180	7.04
Residential real estate⁽¹⁾		1,824,725	5.56			1,787,829	5.48			1,663,291	5.06
Commercial and industrial (“C&I”)		2,071,984	7.96			2,128,486	7.87			2,024,675	7.62
MW LOC		484,680	7.64			430,885	7.57			376,275	7.21
Consumer		22,739	7.93			22,396	8.06			23,704	7.74
LHFI		7,930,996	6.67			7,926,058	6.58			7,561,094	6.35
Loans held for sale		14,645	6.28			14,702	6.84			11,829	5.81
Loans receivable		7,945,641	6.67			7,940,760	6.58			7,572,923	6.35
Investment securities-taxable		1,038,634	2.50			1,046,301	2.54			1,310,459	2.48
Investment securities-nontaxable		146,619	2.46			143,232	2.51			216,700	2.35
Non-marketable equity securities held in other financial institutions		66,409	2.85			56,270	6.53			58,421	6.47
Interest-bearing balances due from banks		229,224	5.46			254,627	5.53			279,383	5.42
Total interest-earning assets		9,426,527	6.09			9,441,190	6.04			9,437,886	5.69
Noninterest-earning assets		559,309				567,035				597,678
Total assets	$	9,985,836			$	10,008,225			$	10,035,564

Liabilities and Stockholders’ Equity
Liabilities
Interest-bearing liabilities
Savings and interest-bearing transaction accounts	$	5,177,522	3.88	%	$	5,130,224	3.80	%	$	4,728,211	3.28	%
Time deposits		1,469,849	4.47			1,534,679	4.46			1,626,935	4.04
Total interest-bearing deposits		6,647,371	4.01			6,664,903	3.95			6,355,146	3.47
FHLB advances and other borrowings		40,331	4.75			41,666	4.96			230,815	5.51
Subordinated indebtedness		159,826	4.78			159,973	4.83			196,792	5.07
Total interest-bearing liabilities		6,847,528	4.04			6,866,542	3.98			6,782,753	3.59
Noninterest-bearing liabilities
Noninterest-bearing deposits		1,850,046				1,894,141				2,088,183
Other liabilities		162,565				163,273				151,716
Total liabilities		8,860,139				8,923,956				9,022,652
Stockholders’ Equity		1,125,697				1,084,269				1,012,912
Total liabilities and stockholders’ equity	$	9,985,836			$	10,008,225			$	10,035,564
Net interest spread			2.05	%			2.06	%			2.10	%
NIM			3.16				3.15				3.12
NIM-FTE⁽²⁾			3.18				3.17				3.14

____________________________

⁽¹⁾	Includes multi-family real estate.
⁽²⁾	In order to present pre-tax income and resulting yields on tax-exempt investments comparable to those on taxable investments, a tax-equivalent adjustment has been computed. This adjustment also includes income tax credits received on Qualified School Construction Bonds.

Origin Bancorp, Inc.
Notable Items
(Unaudited)

	At and For the Three Months Ended
	September 30, 2024						June 30, 2024						March 31, 2024						December 31, 2023						September 30, 2023
	$ Impact			EPS Impact⁽¹⁾			$ Impact			EPS Impact⁽¹⁾			$ Impact			EPS Impact⁽¹⁾			$ Impact			EPS Impact⁽¹⁾			$ Impact			EPS Impact⁽¹⁾

	(Dollars in thousands, except per share amounts)
Notable interest income items:
Interest income reversal on relationships impacted by questioned banker activity	$	—		$	—		$	(1,206	)	$	(0.03	)	$	—		$	—		$	—		$	—		$	—		$	—
Notable provision expense items:
Provision expense related to questioned banker activity		—			—			(3,212	)		(0.08	)		—			—			—			—			—			—
Provision expense on relationships impacted by questioned banker activity		—			—			(4,131	)		(0.10	)		—			—			—			—			—			—
Notable noninterest income items:
MSR gain (impairment)		—			—			—			—			410			0.01			(1,769	)		(0.05	)		—			—
Gain (loss) on sales of securities, net		221			0.01			—			—			(403	)		(0.01	)		(4,606	)		(0.12	)		(7,173	)		(0.18	)
Gain on sub-debt repurchase		—			—			81			—			—			—			—			—			—			—
Positive valuation adjustment on non-marketable equity securities		—			—			5,188			0.13			—			—			—			—			10,096			0.26
Gain on bank property sale		—			—			800			0.02			—			—			—			—			—			—
Notable noninterest expense items:
Operating expense related to questioned banker activity		(848	)		(0.02	)		(1,452	)		(0.04	)		—			—			—			—			—			—
Total notable items	$	(627	)		(0.02	)	$	(3,932	)		(0.10	)	$	7			—		$	(6,375	)		(0.16	)	$	2,923			0.07

____________________________

⁽¹⁾	The diluted EPS impact is calculated using a 21% effective tax rate. The total of the diluted EPS impact of each individual line item may not equal the calculated diluted EPS impact on the total notable items due to rounding.

Origin Bancorp, Inc.
Notable Items – Continued
(Unaudited)

	Nine Months Ended September 30,
		2024						2023
	$ Impact			EPS Impact⁽¹⁾			$ Impact			EPS Impact⁽¹⁾

	(Dollars in thousands, except per share amounts)
Notable interest income items:
Interest income reversal on relationships impacted by questioned banker activity	$	(1,206	)	$	(0.03	)	$	—		$	—
Notable provision expense items:
Provision expense related to questioned banker activity		(3,212	)		(0.08	)		—			—
Provision expense on relationships impacted by questioned banker activity		(4,131	)		(0.10	)		—			—
Notable noninterest income items:
MSR gain		410			0.01			—			—
Loss on sales of securities, net		(182	)		—			(7,029	)		(0.18	)
Gain on sub-debt repurchase		81			—			471			0.01
Positive valuation adjustment on non-marketable equity securities		5,188			0.13			10,096			0.26
Gain on bank property sale		800			0.02			—			—
Notable noninterest expense items:
Operating expense related to questioned banker activity		(2,300	)		(0.06	)		—			—
Total notable items	$	(4,552	)		(0.12	)	$	3,538			0.09

____________________________

⁽¹⁾	The diluted EPS impact is calculated using a 21% effective tax rate. The total of the diluted EPS impact of each individual line item may not equal the calculated diluted EPS impact on the total notable items due to rounding.

Origin Bancorp, Inc.
Non-GAAP Financial Measures
(Unaudited)

	At and For the Three Months Ended
	September 30, 2024			June 30, 2024			March 31, 2024			December 31, 2023			September 30, 2023

	(Dollars in thousands, except per share amounts)
Calculation of PTPP earnings:
Net income	$	18,601		$	20,989		$	22,632		$	13,425		$	24,313
Provision for credit losses		4,603			5,231			3,012			2,735			3,515
Income tax expense		5,068			5,747			6,227			4,119			5,758
PTPP earnings (non-GAAP)	$	28,272		$	31,967		$	31,871		$	20,279		$	33,586

Calculation of PTPP ROAA:
PTPP earnings	$	28,272		$	31,967		$	31,871		$	20,279		$	33,586
Divided by number of days in the quarter		92			91			91			92			92
Multiplied by the number of days in the year		366			366			366			365			365
PTPP earnings, annualized	$	112,473		$	128,571		$	128,184		$	80,455		$	133,249

Divided by total average assets	$	9,985,836		$	10,008,225		$	9,861,236		$	9,753,847		$	10,035,564
ROAA (annualized) (GAAP)		0.74	%		0.84	%		0.92	%		0.55	%		0.96	%
PTPP ROAA (annualized) (non-GAAP)		1.13			1.28			1.30			0.82			1.33

Calculation of tangible common equity to tangible common assets, book value per common share and adjusted tangible book value per common share:
Total assets	$	9,965,986		$	9,947,182		$	9,892,379		$	9,722,584		$	9,733,303
Goodwill		(128,679	)		(128,679	)		(128,679	)		(128,679	)		(128,679	)
Other intangible assets, net		(39,272	)		(41,177	)		(43,314	)		(45,452	)		(42,460	)
Tangible assets		9,798,035			9,777,326			9,720,386			9,548,453			9,562,164

Total common stockholders’ equity	$	1,145,673		$	1,095,894		$	1,078,853		$	1,062,905		$	998,945
Goodwill		(128,679	)		(128,679	)		(128,679	)		(128,679	)		(128,679	)
Other intangible assets, net		(39,272	)		(41,177	)		(43,314	)		(45,452	)		(42,460	)
Tangible common equity		977,722			926,038			906,860			888,774			827,806
Accumulated other comprehensive loss		94,245			127,184			124,909			121,023			172,729
Adjusted tangible common equity		1,071,967			1,053,222			1,031,769			1,009,797			1,000,535
Divided by common shares outstanding at the end of the period		31,167,410			31,108,667			31,011,304			30,986,109			30,906,716
Book value per common share (GAAP)	$	36.76		$	35.23		$	34.79		$	34.30		$	32.32
Tangible book value per common share (non-GAAP)		31.37			29.77			29.24			28.68			26.78
Adjusted tangible book value per common share (non-GAAP)		34.39			33.86			33.27			32.59			32.37
Tangible common equity to tangible assets (non-GAAP)		9.98	%		9.47	%		9.33	%		9.31	%		8.66	%

Calculation of ROATCE:
Net income	$	18,601		$	20,989		$	22,632		$	13,425		$	24,313
Divided by number of days in the quarter		92			91			91			92			92
Multiplied by number of days in the year		366			366			366			365			365
Annualized net income	$	74,000		$	84,417		$	91,025		$	53,262		$	96,459

Total average common stockholders’ equity	$	1,125,697		$	1,084,269		$	1,062,705		$	1,013,286		$	1,012,912
Average goodwill		(128,679	)		(128,679	)		(128,679	)		(128,679	)		(128,679	)
Average other intangible assets, net		(40,487	)		(42,563	)		(44,700	)		(46,825	)		(43,901	)
Average tangible common equity		956,531			913,027			889,326			837,782			840,332

ROATCE (non-GAAP)		7.74	%		9.25	%		10.24	%		6.36	%		11.48	%

Calculation of core efficiency ratio:
Total noninterest expense	$	62,521		$	64,388		$	58,707		$	60,906		$	58,663
Insurance and mortgage noninterest expense		(8,448	)		(8,402	)		(8,045	)		(8,581	)		(8,579	)
Adjusted total noninterest expense		54,073			55,986			50,662			52,325			50,084

Net interest income	$	74,804		$	73,890		$	73,323		$	72,989		$	74,130
Insurance and mortgage net interest income		(2,578	)		(2,407	)		(2,795	)		(2,294	)		(2,120	)
Total noninterest income		15,989			22,465			17,255			8,196			18,119
Insurance and mortgage noninterest income		(8,081	)		(8,543	)		(10,123	)		(4,727	)		(7,335	)
Adjusted total revenue		80,134			85,405			77,660			74,164			82,794

Efficiency ratio (GAAP)		68.86	%		66.82	%		64.81	%		75.02	%		63.59	%
Core efficiency ratio (non-GAAP)		67.48			65.55			65.24			70.55			60.49

Origin Bancorp, Inc.
Non-GAAP Financial Measures – Continued
(Unaudited)

	Nine Months Ended September 30,
		2024			2023

	(Dollars in thousands, except per share amounts)
Calculation of PTPP earnings:
Net income	$	62,222		$	70,375
Provision for credit losses		12,846			14,018
Income tax expense		17,042			18,004
PTPP earnings (non-GAAP)	$	92,110		$	102,397

Calculation of PTPP ROAA:
PTPP Earnings	$	92,110		$	102,397
Divided by the year-to-date number of days		274			273
Multiplied by number of days in the year		366			365
Annualized PTPP Earnings	$	123,037		$	136,904

Divided by total average assets	$	9,951,890		$	10,004,097
ROAA (annualized) (GAAP)		0.84	%		0.94	%
PTPP ROAA (annualized) (non-GAAP)		1.24			1.37

Calculation of ROATCE:
Net income	$	62,222		$	70,375
Divided by the year-to-date number of days		274			273
Multiplied by number of days in the year		366			365
Annualized net income	$	83,114		$	94,091

Total average common stockholders’ equity	$	1,091,018		$	995,395
Average goodwill		(128,679	)		(128,679	)
Average other intangible assets, net		(42,576	)		(46,391	)
Average tangible common equity		919,763			820,325

ROATCE		9.04	%		11.47	%

Calculation of core efficiency ratio:
Total noninterest expense	$	185,616		$	174,310
Insurance and mortgage noninterest expense		(24,895	)		(25,768	)
Adjusted total noninterest expense		160,721			148,542

Net interest income	$	222,017		$	226,568
Insurance and mortgage net interest income		(7,780	)		(5,187	)
Total noninterest income		55,709			50,139
Insurance and mortgage noninterest income		(26,747	)		(23,714	)
Adjusted total revenue		243,199			247,806

Efficiency ratio		66.83	%		62.99	%
Core efficiency ratio		66.09			59.94

The MIL Network –

January 25, 2025

MIL-OSI United Kingdom: Strengthened Football Governance Bill launched to protect clubs and support fans
Source: United Kingdom – Executive Government & Departments

The Government will take its first step to address the significant issues facing the financial sustainability of elite men’s football in England with the introduction of a strengthened Football Governance Bill in the House of Lords.
New powers in the Bill deliver manifesto commitments and include consulting fans on ticket pricing, home stadium relocations, and fan representation at clubs

Parachute payments included in Regulator’s remit so it will have full oversight to tackle financial sustainability across the football pyramid

Requirement to consider government foreign policy dropped to cement regulator’s full independence

The Government will take its first step to address the significant issues facing the financial sustainability of elite men’s football in England today [Thursday 24 October], with the introduction of a strengthened Football Governance Bill in the House of Lords.

The Bill comes at a critical juncture for English football, following the attempted breakaway European Super League, and a series of high profile cases of clubs being financially mismanaged. In recent years we’ve seen the devastating impact of the collapse of clubs like Bury and Macclesfield. These cases came about as a result of fundamental governance problems in the game that have led to excessive and reckless risk-taking, with many clubs living way beyond their means.

The Bill, which delivers on the Government’s manifesto commitments, will establish an Independent Football Regulator and a new set of rules to protect clubs, empower fans and keep clubs at the heart of their communities.

The Regulator will tackle rogue owners and directors, implement a club licensing regime to help ensure a more consistent approach in how clubs are run, monitor club finances and improve fan engagement throughout the football pyramid – from the Premier League to the National League. It will also have a backstop measure to mediate a fair financial distribution down the Leagues should the Premier League and EFL (English Football League) not be able to come to an agreement.

In major changes to the previous draft of the Football Governance Bill:

The Regulator will now explicitly require clubs to provide ‘effective engagement’ with their supporters on changes to ticket prices, and any proposals to relocate their home ground.

The singular carve out of parachute payments in the previous draft of the Bill has been dropped. The Regulator will now be given the remit to include parachute payments, through the backstop mechanism, when assessing finances across the game. Excluding these payments, would have significantly reduced the ability of the Regulator to take a full view of financial stability and resilience across the football pyramid.

The Regulator will no longer be required to consider government foreign and trade policy when approving club takeovers. The move ensures the Regulator will be fully independent of government and industry.

The Regulator will now have the power to compel clubs to democratically select the fan representatives the club must engage with, rather than clubs making a unilateral decision. This will ensure meaningful engagement with as many supporters of a club as possible.

There is now a clear commitment to do more to improve Equality, Diversity and Inclusion (EDI) within the game. Clubs will now be required to be transparent and publish what action they are taking on EDI as part of reporting against a new Football Club corporate governance code that the regulator will introduce, improving decision making at clubs.

The Government has made it a priority to strengthen the Bill since taking office, ensuring English football remains one of the country’s greatest exports, and places fans back at the heart of the game, so that local clubs in towns and cities continue to thrive for generations.

Culture Secretary Lisa Nandy said:

English football is one of our greatest exports and a source of national pride which this Government wants to see thrive for generations to come.

But for too long, financial instability has meant loyal fans and whole communities have risked losing their cherished clubs as a result of mismanagement and reckless spending.

This Bill seeks to properly redress the balance, putting fans back at the heart of the game, taking on rogue owners and crucially helping to put clubs up and down the country on a sound financial footing.”

Sports Minister Stephanie Peacock said:

Football would be nothing without its fans, and this strengthened Bill will deliver an Independent Regulator that puts them firmly back at the centre of the game.

From protecting club heritage such as shirt colours and badges that mean so much to so many of us, to requiring clubs to consult fans on changes to ticket prices, the Regulator will help make the game the best it can be.

Working side by side with the football authorities, the Regulator will protect clubs and make sure they’re kept at the heart of their communities, where they belong.

Kevin Miles, Chief Executive of the Football Supporters Association said:

Earlier this year 200+ supporters’ groups signed an FSA open letter calling on all parties to get behind a new Football Governance Bill – we’re very pleased the Government has listened and look forward to working with Parliamentarians to ensure the Bill delivers upon its promise.

The FSA was at the heart of 2021’s Fan-Led Review of Football Governance which made a range of recommendations to strengthen the game’s governance – most notably the commitment to introduce an independent regulator.

The regulator has the potential to protect our historic community clubs and stop the being run into-the-ground by bad owners, rebalance the game’s finances, protect the heritage of all clubs, give supporters a bigger say in the running of the game and block any domestic clubs from joining a breakaway European Super League. The FSA wholeheartedly backs its creation.

Dame Tracey Crouch, author Fan Led Review of Football said:

For far too long fans have been at the back of the queue when it comes to their beloved football club. Football means so much to millions of people and I’m grateful the Government is taking action to protect football from the threats of rogue owners and breakaway competitions.

The protections in the new Bill reflect the Fan Led Review’s recommendations that supporters should be placed back at the heart of the game and will have a genuine say on things like ticketing and club heritage.

The Independent Football Regulator will crucially help put clubs on a sustainable financial footing and help secure our national game’s long term future.

Former Manchester United and England player, football pundit and co-owner of Salford City FC Gary Neville said:

Football is undoubtedly one of our country’s greatest assets, but now more than ever we need an independent regulator to act as a guardian for our game, to make sure that clubs and their fans are protected for the long term.

I’ve had the honour of experiencing football as a fan, player, pundit and now as a club co-owner, but I know my role is to act as a temporary custodian of an institution that belongs to its fans and community which will last forever.

Football is too important in this country to be left solely in the hands of individual owners to design its future. We’ve seen inequality across the game grow but now independent regulation can act as a catalyst to create a thriving and sustainable game for future generations.

The new legislation echoes the sentiment from fans on the need for systemic change in football, as set out in Dame Tracey Crouch’s Fan Led Review of Football. While retaining many of the key findings, the Government believes the new Bill builds on these and delivers a stronger independent regulator for men’s elite football in England.

Notes to editors:

The Fan Led Review of Football Governance can be found here.

Parachute payments will be assessed only if the Regulator considers them to be of systemic risk to financial sustainability. The Football Governance Bill will require clubs to continue to be protected from the risks that come with relegation.

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Published 24 October 2024
MIL OSI United Kingdom –
January 25, 2025
MIL-OSI USA: Asheville Disaster Recovery Center Moving; Temporary Centers Available to Help

Source: US Federal Emergency Management Agency

Headline: Asheville Disaster Recovery Center Moving; Temporary Centers Available to Help

Asheville Disaster Recovery Center Moving; Temporary Centers Available to Help

RALEIGH, N.C. – The Disaster Recovery Center (DRC) at A.C. Reynolds High School in Asheville will be closing 7 p.m., Oct. 24 to allow the school to open and students to resume learning. A new fixed site in Buncombe County will be announced soon.In addition to a fixed site, Mobile Disaster Recovery Centers (M-DRCs) are opening with the first on Oct. 24 to provide in-person support. M-DRCs can be found at the following locations and operational hours:Swannanoa Fire Rescue – Bee Tree Fire Sub Station510 Bee Tree Rd. Swannanoa, NC 28778Open: Oct. 24 – 27, 8 a.m. – 7 p.m. Buncombe County Sports Park (Parking Lot)58 Apac Dr. Asheville, NC 28806Open: Oct. 28 – 31, 8 a.m. – 5 p.m. A Disaster Recovery Center is a one-stop shop where survivors can meet face-to-face with FEMA representatives, apply for FEMA assistance, receive referrals to local assistance in their area, apply with the U.S. Small Business Administration (SBA) for low-interest disaster loans and much more. Centers are already open across areas affected by Helene. To find those center locations go to fema.gov/drc or text “DRC” and a zip code to 43362. You can visit any open center. No appointment is needed.  It is not necessary to go to a center to apply for FEMA assistance. The fastest way to apply is online at DisasterAssistance.gov or via the FEMA app. You may also call 800-621-3362. If you use a relay service, such as video relay, captioned telephone or other service, give FEMA your number for that service.
krystin.ventura
Wed, 10/23/2024 – 23:06

MIL OSI USA News –

January 25, 2025
MIL-OSI Australia: Sequel to Sweet Country, among 19 projects supported by Screen Australia’s First Nations Department

Source: Australia Government Statements 4

24 10 2024 – Media release

Warwick Thornton, director of Wolfram: A sequel to Sweet Country
Screen Australia’s First Nations Department is thrilled to announce its latest funding slate, including Warwick Thornton’s sequel to Sweet Country titled Wolfram, alongside two powerful documentaries for NITV spanning sport and politics.
In total, 19 new projects, including 16 funded for development, will receive over $3 million in funding. This investment reflects the agency’s ongoing commitment to amplify First Nations voices and stories, aligned with the Federal Government’s National Cultural Policy Revive and its First Nations First pillar – recognising and respecting the crucial place of First Nations stories at the centre of Australia’s arts and culture.
Screen Australia’s Head of First Nations Angela Bates said, “Our First Nations creatives are at the forefront of Australian storytelling, with many incredible projects being celebrated on the world stage and even more in development. The demand for our funding has never been higher, which is a positive sign for the industry. Across the 23/24FY, our Department invested over $7.1 million of funding including 105 opportunities across development, production, initiatives, attachments and market support – highlighting the incredible talent and rich narratives within Indigenous communities. With films like Wolfram and documentaries Dreaming Big and One Mind, One Heart, I’m inspired by the depth of powerful screen stories authored by First Nations Australians.”
“It’s an exciting time for First Nations content creators, and we’re witnessing a new wave of talent. Looking ahead, we will continue to create pathways for these storytellers to thrive and expand their careers in the competitive global marketplace, collaborating with industry to enhance project visibility and impact,” said Bates.
This funding announcement follows a year of significant achievements for First Nations stories and creatives. Feature films The New Boy and The Moogai have garnered international acclaim. The third series of the landmark drama Total Control captivated local audiences with it being the most watched First Nations series in 23/24. Additionally, the ground-breaking children’s show Little J & Big Cuz returned for its fourth series on NITV and ABC, featuring 17 language groups and providing a powerful voice for children across Australia. The feature length documentary Kindred premiered on NITV in June, further highlighting the power of cultural connection.
In the past year, the Department has also invested $1 million into the Enterprise program, supporting four First Nations businesses and three practitioners. Collaborating with Instagram Australia, it launched the fourth iteration of the First Nations Creators Program, supporting emerging talent in the content creator economy to build their skills in the digital space. The Department also supported six projects for production through the First Facts: First Nations Factual Showcase initiative, providing emerging and mid-career Aboriginal and Torres Strait Islander filmmakers with opportunities to create 10-minute documentaries for Network 10.
Warwick Thornton, director of Wolfram: A sequel to Sweet Country said, “This is my family’s story. My great grandmother and her daughters worked the Hatches Creek mines for whitefellas. Now a truth will come out and it’s called Wolfram.”
The projects funded for production are:

Wolfram: A sequel to Sweet Country: Set three years after Sweet Country, Wolfram continues the story of Philomac, now 17 and still living under the watchful eye of his ill-tempered master Mick Kennedy. After meeting Max and Kid, Philomac decides to free himself and the siblings from the white men’s brutality by running away into desert country. Along the way they are assisted by a pioneering family of Chinese Australian miners Jimmi and Wang Wei, who help reunite the children with their estranged mother Pansy. Wolfram is directed by Warwick Thornton and written by Steven McGregor and David Tranter, whose credits include Sweet Country. Also producing alongside Tranter is David Jowsey and Greer Simpkin of Sweet Country and Cecilia Ritchie (Limbo). It is financed with support from Screen NSW and the Adelaide Film Festival Investment Fund. Distributing is Dark Matter Distribution, with international sales managed by Memento.
Dreaming Big: This six-part series for NITV takes an intimate look into the lives of gifted Aboriginal and Torres Strait Islander Australian youths on the cusp of becoming the nation’s next generation of sports stars. Each episode highlights two young elite athletes, showcasing their relentless pursuit to reach the pinnacle of their chosen field as they navigate family and cultural obligations while remaining focused on their goals. The series will be directed by Andrew Dillon (Le Champion) and Abraham Byrne Jameson (One by One), with writer/producer Richard Jameson (Strait to the Plate season 2) and producer Veronica Fury (And We Danced) also attached. It is financed in association with Screen Queensland.
One Mind, One Heart: In this feature-length documentary for NITV, a historic political Yirrkala bark petition is discovered and makes its way home to Yolgnu country, evoking the spirit of decades of activism for change. The repatriation provides the opportunity to track the long political campaign – through petition, song, dance, campaigning – to keep culture strong and to have a voice for country. One Mind, One Heart is from writer/director Larissa Behrendt (The First Inventors) and producer Michaela Perske (Larapinta). It is financed in association with Screen NSW, with support from the Adelaide Film Festival Investment Fund, Spectrum Entertainment, Documentary Australia and Philanthropy via the Shark Island Institute.

Also announced today are three television dramas, 11 feature films and two documentaries that will share in over $540,000 of development funding. The projects include feature film Native Gods from 2024 Enterprise Business recipient Djali House; comedy series Long Story Short from writer/director Tanith Glynn-Maloney (Windcatcher); documentary Fire Country, a transformative exploration of Indigenous fire knowledge and wisdom; and feature film RED, about eight Western Australian First Nations women who share the ugly secret of being surrounded by the missing.
Click here for the full list of projects funded for Production and Development by the First Nations Department throughout the 2023/24 financial year.
ABOUT SCREEN AUSTRALIA’S FIRST NATIONS DEPARTMENT
Entirely led and staffed by First Nations Australians, the Department funds drama, documentary and children’s content across all platforms. The Department also identifies emerging First Nations talent, advocates for representation and funds skills development and career escalation opportunities. For more information on the First Nations Department and funding available, click here.
Screen Australia is expanding the First Nations Department and is recruiting for the new position of Director of First Nations. This is to align with the Agency’s commitment to supporting authentic First Nations screen stories, to further champion industry practitioners and build opportunities for growth and visibility. For more information about the role, click here.
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MIL OSI News –

January 25, 2025
MIL-OSI China: Sanya set to welcome China’s National Traditional Games of Ethnic Minorities

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

SANYA, China, Oct. 23 — The 12th National Traditional Games of Ethnic Minorities of the People’s Republic of China will be held in Sanya, South China’s Hainan Island, on November 22, just 30 days from now.

During a press conference on Wednesday, Zhang Changfeng, Vice Mayor of Sanya and organizing committee official, shared updates on the event preparations. He expressed the city’s ambition, saying, “We aim to surprise those who have never been to Sanya, and to offer a fresh perspective to those who have.”

First launched in 1953, this is one of China’s oldest national multi-sport Games, having been held 11 times previously. Some 10,000 athletes representing China’s 56 ethnic groups will gather on this tropical island to compete in 17 sports, 139 events and three demonstration sports.

Some events, such as equestrian competitions, have already taken place in Xinjiang Uygur Autonomous Region in northwest China.

Unlike traditional sporting events, the Games feature competitions rooted in the traditional customs of China’s ethnic minorities. One highlight is the debut of the coconut tree climbing race, inspired by the daily lives of the Li and Miao ethnic groups in Hainan, who historically climbed coconut trees for harvesting.

The swing competition, which is exclusive to female athletes, hails from the Korean ethnic group in northeast China and aims to empower women by encouraging them to broaden their horizons through sport.

Zhang also noted the organizer is focusing on hosting the Games with a philosophy of simplicity, safety, excellence, sustainability, technology, and cultural depth.

“All the venues are repurposed from existing facilities, and most materials used are recyclable,” said Zhang. “The torch will be ignited by deep-sea combustible ice, symbolizing the intersection of technology and environmental awareness.”

Between the opening ceremony on November 22 and the closing ceremony on November 30, a special Ethnic Unity Gala will be held. This longstanding tradition of the Games will feature athletes from all 56 ethnic groups in a grand showcase of their cultures and traditions.

“In this most beautiful season, the great Chinese family will unite here, showing the strength of ethnic harmony and friendship. That will be the defining highlight of this year’s games,” Zhang said.

MIL OSI China News –

January 25, 2025
MIL-OSI China: Malaysian dragon dancers hope to deepen friendship with China through traditional sports

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

Malaysian dragon dancers hope to deepen friendship with China through traditional sports

Updated: October 24, 2024 08:08 Xinhua

Members of Malaysia Johor Loong & Lion Dance Sport Association pose for photos after the awarding ceremony of the festival in Kunming, capital of southwest China’s Yunnan Province, on Oct. 18, 2024. The 2nd Traditional Sports International Festival was held in Kunming, capital of southwest China’s Yunnan Province from Oct. 17 to Oct. 21, 2024. The festival includes Wushu, Health Qigong, Go (Weiqi) and Dragon and Lion Dance, attracting contestants from 27 countries and regions. A team from Malaysia Johor Loong & Lion Dance Sport Association led by Chan Hong Kin won two gold medals in Dragon Dance Category. Chan Hong Kin, 52, has been a member of the team for more than 30 years. He hopes that through the festival in Kunming, the team members from Malaysia can not only show their skills, but also deepen friendship with Chinese people. “I first came to China in 1999,” Chan Hong Kin said, “After the competition, we will go to Lufeng City to visit some old friends. I’m also looking forward to seeing more new Chinese friends in Malaysia.” This year marks the 50th anniversary celebrations of the establishment of diplomatic relations between China and Malaysia, which promote more people-to-people exchanges in traditonal culture field. [Photo/Xinhua]

Members of Malaysia Johor Loong & Lion Dance Sport Association compete in the traditional Dragon Dance event at the festival in Kunming, capital of southwest China’s Yunnan Province, on Oct. 19, 2024. [Photo/Xinhua]

Members of Malaysia Johor Loong & Lion Dance Sport Association compete in the Dragon Dance freestyle event at the festival in Kunming, capital of southwest China’s Yunnan Province, on Oct. 19, 2024. [Photo/Xinhua]

Members of Malaysia Johor Loong & Lion Dance Sport Association and members of Guangzhou Sport University Loong and Lion Dance team participate in the festival, in Kunming, capital of southwest China’s Yunnan Province, on Oct. 19, 2024. [Photo/Xinhua]

Chan Hong Kin takes photos and videos during the festival in Kunming, capital of southwest China’s Yunnan Province, on Oct. 18, 2024. [Photo/Xinhua]

An aerial drone photo taken on Oct. 18, 2024 Malaysia Johor Loong & Lion Dance Sport Association competing in the Dragon Dance freestyle event at the festival in Kunming, capital of southwest China’s Yunnan Province. [Photo/Xinhua]

Members of Malaysia Johor Loong & Lion Dance Sport Association visit the Yunnan Nationalities Village in Kunming, capital of southwest China’s Yunnan Province, on Oct. 20, 2024. [Photo/Xinhua]

Members of Malaysia Johor Loong & Lion Dance Sport Association and members of Guangzhou Sport University Loong and Lion Dance team pose for photos during the festival, in Kunming, capital of southwest China’s Yunnan Province, on Oct. 19, 2024. [Photo/Xinhua]

Chan Hong Kin (front L) and members of Malaysia Johor Loong & Lion Dance Sport Association arrive for the opening ceremony of the festival in Kunming, capital of southwest China’s Yunnan Province, on Oct. 18, 2024. [Photo/Xinhua]

MIL OSI China News –

January 25, 2025
MIL-OSI China: Apple CEO pledges to increase investment in China

Source: China State Council Information Office

Apple CEO Tim Cook on Wednesday pledged to increase investment in China during his Beijing visit, which analysts believe highlights the importance of the Chinese market to the American tech giant.

In his second trip to the Chinese mainland this year, Cook met with China’s Minister of Industry and Information Technology Jin Zhuanglong on Wednesday, discussing topics including Apple’s development in China, online data security management and cloud services.

Cook said Apple is keen to seize the opportunities presented by China’s opening up and will continue to increase its investment in the country, thus contributing to the high-quality development of the industrial and supply chains.

On Tuesday, Cook met with Yang Jie, chairman of telecom giant China Mobile. The two sides exchanged views on further advancing cooperation in 5G applications, music and VR videos, building on existing cooperative programs in areas such as digital content, according to a China Mobile statement.

Cook also met with Chinese college students at a “science and technology backyard” in Beijing’s Shunyi District to learn how they are using Apple devices to help farmers adopt more efficient and sustainable practices.

In August 2023, the China Foundation for Rural Development set up a project to help “science and technology backyards” with social support. Apple was the first company to support the project.

Li Huimin, a student at China Agricultural University, and her research team have been developing an iOS app to provide extreme weather alerts, pest identification and pest warnings to raise fruit yields.

The app has been approved for testing and will be available after further improvements.

“The projects I just saw are amazing, and the students I met today are really motivated to make a positive impact for rural communities. I loved seeing how they’re using technology to help farmers increase production,” Cook said.

Chinese developers have thrived on the App Store. In 2022, roughly as in previous years, China accounted for 51 percent of the billings and sales facilitated by the App Store ecosystem, according to a study by Analysis Group.

During his Beijing trip, Cook also visited an Apple retail store in downtown Beijing, and met with developers at Chinese gaming company Gala Sports.

In his visit to Shanghai in March, Cook reiterated the company’s long-term commitment to the Chinese market when he opened Apple’s biggest retail store on the Chinese mainland.

“There’s no supply chain in the world that’s more critical to us than China,” Cook said, noting that Apple will strengthen its long-term cooperation with its Chinese supply chain partners and work closely with them on green and smart manufacturing to achieve win-win results.

His visit reflects Apple’s emphasis on the Chinese market and the company’s market strategy of combining local characteristics with global thinking, said Wu Shu, founding partner of Beijing-based Potential Capital.

“This may be regarded as Apple’s enhanced emphasis on the Chinese market, reflecting the strong magnetism of the Chinese market,” Wu said.

Apple’s new iPhone 16 lineup is off to a strong start on the Chinese market, with sales up 20 percent in the first three weeks after launch compared with the iPhone 15 series in 2023, data from market research firm Counterpoint Research showed.

As China’s “Double 11” online shopping event approaches, electronic items, along with other products, are expected to experience a surge in sales.

With the introduction of a host of incremental policies, China’s economy continues to show resilience and remains an attractive destination for foreign investment, Wu said. China’s opening-up policy and large market provide important opportunities for enterprises from all over the world, including the United States, he added.

MIL OSI China News –

January 25, 2025
MIL-OSI USA: Disaster Recovery Center Open in Polk County

Source: US Federal Emergency Management Agency

Headline: Disaster Recovery Center Open in Polk County

Asheville Disaster Recovery Center Moving; Temporary Centers Available to Help

RALEIGH, N.C. – The Disaster Recovery Center (DRC) at A.C. Reynolds High School in Asheville will be closing 7 p.m., Oct. 24 to allow the school to open and students to resume learning. A new fixed site in Buncombe County will be announced soon.In addition to a fixed site, Mobile Disaster Recovery Centers (M-DRCs) are opening with the first on Oct. 24 to provide in-person support. M-DRCs can be found at the following locations and operational hours:Swannanoa Fire Rescue – Bee Tree Fire Sub Station510 Bee Tree Rd. Swannanoa, NC 28778Open: Oct. 24 – 27, 8 a.m. – 7 p.m. Buncombe County Sports Park (Parking Lot)58 Apac Dr. Asheville, NC 28806Open: Oct. 28 – 31, 8 a.m. – 5 p.m. A Disaster Recovery Center is a one-stop shop where survivors can meet face-to-face with FEMA representatives, apply for FEMA assistance, receive referrals to local assistance in their area, apply with the U.S. Small Business Administration (SBA) for low-interest disaster loans and much more. Centers are already open across areas affected by Helene. To find those center locations go to fema.gov/drc or text “DRC” and a zip code to 43362. You can visit any open center. No appointment is needed.  It is not necessary to go to a center to apply for FEMA assistance. The fastest way to apply is online at DisasterAssistance.gov or via the FEMA app. You may also call 800-621-3362. If you use a relay service, such as video relay, captioned telephone or other service, give FEMA your number for that service.
krystin.ventura
Wed, 10/23/2024 – 23:06

MIL OSI USA News –

January 25, 2025
MIL-OSI United Kingdom: UK supports rugby development in Solomon Islands through SOS Kit Aid
Source: United Kingdom – Executive Government & Departments

Rugby Solomon Islands received donation of training kits from UK charity SOS Kit Aid through partnership with the British High Commission in Solomon Islands.
A group photo with the SOS Aid kit donated to SIRUF.

SOS Kit Aid is a charity organisation that distributes both new and second-hand rugby kits to children all over the world, with the support of World Rugby. It was founded back in 2001, by rugby dad, John Broadfoot, who, whilst during a trip to Romania witnessed a smiling 8-year-old boy running with the ball under one arm, whilst he used the other arm to hold up his shorts. John wanted to do something about this.

John knew that his sons had several pairs of boots and other kit lying around at home, and so, to test out the potential, he collected kit from ten schools, to see how much was available on a wider scale. The test was an outstanding success and so SOS Kit Aid was born.

Handing over the kits to the Solomon Islands Rugby Union Federation (SIRUF), High Commissioner His Excellency Thomas Coward said:

Rugby teaches children values and teamwork. The Solomon Islanders Rugby Union Federation Get into Rugby programme frames this through its approach to Respect, Integrity, Solidarity, Discipline and Fun. Rugby is a great bridge between our two countries and brings us all together.

Receiving the kits on SIRUF’s behalf was Secretary of the Executive Board, Angikinui Francis Tekatoha who said rugby has a long history and they have been developing the sport in Solomon Islands. He added:

Our partnership with the British High Commission supports our Get into Rugby programme, Get into Rugby Plus and Rise Rugby. Our most recent rugby development programme is focusing on women, young people and schools so the gifts you are giving us today will be used in those programmes for training. The donation of kit deepens the partnership between the Rugby Federation and the British High Commission.

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Published 24 October 2024
MIL OSI United Kingdom –
January 25, 2025
MIL-OSI United Kingdom: Celebrations mark official opening of new Winchester 3G pitch

Source: City of Winchester

The installation of a new community 3G pitch in Winchester has been celebrated at an official opening event.

The high-quality pitch, which has replaced the current grass pitch at Hillier Way football ground, is a surface which can be used all year round.

The Hillier Way ground is the home venue of Winchester City FC, a committee-run members club which has a history dating back to 1884. The club’s first game on the new surface was an FA Cup qualifying game against Weymouth.

The facility is also used by Winchester City Flyers girls’ and ladies’ teams, and Winchester Youth FC.

The official opening on 23 October 2024

The new pitch has been funded by: a grant from the Premier League, The FA and Government’s Football Foundation of £1,132,214; Winchester City Council Community Infrastructure Levy (CIL) funding of £300,000; and £16,000 from Winchester City FC.

It is also available for wider local community activity sessions and private hire, including use by schools, colleges and other clubs.

Robert Sullivan, Chief Executive of The Football Foundation, said: “The Football Foundation is working closely with our partners – the Premier League, The FA and Government – to transform the quality of grassroots facilities in England by delivering projects like this across the country.

“Good quality playing facilities have a transformative impact on physical and mental health and play an important role in bringing people together and strengthening local communities.

“We’re delighted that the local community in Winchester will now be able to enjoy all these benefits thanks to the new 3G pitch at The Hillier Way Football Ground.”

Winchester City Council’s Cabinet Member for Community and Engagement Cllr Kathleen Becker said: “We’re very pleased to celebrate the official opening of this fantastic new surface which cements existing opportunities for community sport. It opens up exciting new ones too, including increased opportunities for female coaches and players in the district.

“Already being well used by the local community, we also look forward to seeing this pitch benefit schools and other clubs for sessions, holiday activity and private hire.”

Winchester City FC Chairman Ken Raisbeck said: “The completion of the stadium development represents a significant moment in the history of the football club but also an opportunity for the community of Winchester.

“Football is a great vehicle to bring people together as well as encourage health and wellbeing. This facility creates a home for the club and from five-year-olds through to the first team, we now have an asset that can be used by everyone.

“I am delighted that the council supported the vision and through the football club we were able to bring investment to the city to provide this fantastic facility; it’s an exciting moment in the development of the club and our community partners.”

Last Updated: Thursday 24 October 2024

MIL OSI United Kingdom –

January 25, 2025
MIL-OSI Asia-Pac: Speech by SCST at Hong Kong Fashion Fest Preview

Source: Hong Kong Government special administrative region

     Following is the speech by the Secretary for Culture, Sports and Tourism, Mr Kevin Yeung, at the Hong Kong Fashion Fest Preview today (October 24):

Distinguished guests, friends from the fashion design industries and the media,

     Welcome to the preview for the Hong Kong Fashion Fest, our new brand for the Hong Kong Fashion Design Week, which is an initiative introduced by the Chief Executive in his Policy Address last year.

     Being a new flagship event, the Hong Kong Fashion Fest consolidates fashion design events, promotes Hong Kong’s fashion and textile design brands, and reaffirms Hong Kong’s position as a prime destination for hosting major cultural and creative events. The Cultural and Creative Industries Development Agency of my bureau has been closely engaging stakeholders in the past year to realise the idea.

     The first Hong Kong Fashion Fest will be held between November 20 and December 4, offering a variety of programmes, including a summit and a forum for high-level discussions on the development of the industry, fashion shows and exhibitions showcasing the work of local and overseas designers in haute couture fashion, workwear, evening wear and other types of clothing, and a cross-sector soiree.

     Not only will the Hong Kong Fashion Fest showcase the soft power of Hong Kong in fashion design, it will be a platform for local and international fashion designers and brands, and enhance collaboration of Hong Kong’s fashion design industries with the rest of the world. We envisage that the Hong Kong Fashion Fest will attract 150 000 participants from over 15 countries and regions. It will fully demonstrate Hong Kong’s role as the East-meets-West centre for international cultural exchange.

     The Hong Kong Fashion Fest will be an annual signature event signifying Hong Kong as Asia’s fashion design hub. I look forward to enjoying the wonderful programmes of the Hong Kong Fashion Fest with you. Thank you.

(Please also refer to the Chinese portion of the speech.)

MIL OSI Asia Pacific News –

January 25, 2025
MIL-OSI Asia-Pac: Preview of Hong Kong Fashion Fest held today

Source: Hong Kong Government special administrative region

     The Hong Kong Fashion Fest Preview took place at Asia Society Hong Kong Center today (October 24) to raise the curtain on the inaugural Hong Kong Fashion Design Week. The preview was officiated by the Secretary for Culture, Sports and Tourism, Mr Kevin Yeung, and representatives of the organisers of the events.

     Mr Yeung said, “Introduced by the Chief Executive in last year’s Policy Address, the Hong Kong Fashion Design Week will be organised to consolidate fashion design events for promoting Hong Kong’s fashion and textile design brands and reaffirming Hong Kong’s position as a prime destination for hosting major cultural and creative events. The Cultural and Creative Industries Development Agency of my Bureau has been closely engaging stakeholders over the past year to realise the idea. The first Hong Kong Fashion Fest will be held between November 20 and December 4 at various locations in Hong Kong. The Hong Kong Fashion Fest will be an annual signature event signifying Hong Kong as Asia’s fashion design hub.”

     The Hong Kong Fashion Fest will be a platform for local, Mainland and overseas fashion designers and brands, as well as industry leaders and players, to enhance collaboration within Hong Kong’s fashion design industries with the rest of the world in expanding market development. The Hong Kong Fashion Fest injects new elements to create synergy for different fashion design activities, enhancing the profile of local fashion design and showcasing the soft power of Hong Kong in fashion design.

     The Hong Kong Fashion Fest is set to take place in venues spanning various cultural landmarks and iconic design and fashion locations in Hong Kong. The event presents a full agenda of different fashion design happenings. It is anticipated that the Hong Kong Fashion Fest will attract over 150 000 participants from the fashion design industries and the public from over 15 countries or regions. Event details under the Hong Kong Fashion Fest is available in the annex.

MIL OSI Asia Pacific News –

January 25, 2025
MIL-OSI USA: Governor Hochul Participates in Axios Fireside Chat

Source: US State of New York

Earlier today, Governor Kathy Hochul participated in Axios’ Fireside Chat with Dan Primack. Axios is an American news website based in Arlington, VA. It was founded in 2014 and launched the following year by former Politico journalists Jim VandeHei, Mike Allen and Roy Schwartz. Axios’ BFD is a half-day event where reporters will convene industry leaders to unpack their hyper-relevant news and trends. This event offers attendees an inside track into some of the biggest topics on investors’ minds.

VIDEO of the event is available on YouTube here and available in TV quality (h.264. mp4) format here.

AUDIO of the Governor’s remarks is available here.

PHOTOS of the event are available on the Governor’s Flickr page.

A rush transcript of the Governor’s remarks is available below:

Dan Primack, Axios: As I’ve said a couple of times from this stage, we are a couple of weeks away from an election, so it felt apropos that we should have an actual politician on stage — not just somebody talking about politics. So please welcome the Governor of New York, Governor Kathy Hochul.

Governor Hochul: An actual politician?

Dan Primack, Axios: An actual politician. Sorry, is that offensive?

Governor Hochul: I prefer an elected official. It sounds a little nicer, but if you have to call me a politician, I’ve been called worse.

Dan Primack, Axios: Alright. So, governor, you’ve said — Governor’s Office says — but you’ve said you want to make New York the most business friendly state in the country. How do you gauge that? What’s your metric for that?

Governor Hochul: Well, sometimes it’s not what you do, it’s what you stop from happening. Like a major tax increase on high net worth people that I was able to, you know, stop in its tracks last year. Because I’m not in the business of driving successful people out of our state, I want to bring them back to the State. And so, it’s also, it’s economic policies, it’s also saying that, you know, “We’re going to break down some barriers for you and we’ll be there with financial incentives.” And we’ll talk about Micron, I presume, but there’s no way Micron was going to build the nation’s largest semiconductor facility — $100 billion of investment, the largest in our history, with 50,000 jobs — if there weren’t incentives from the Biden-Harris Administration. But that just meant that all 50 states could compete. I had to win that war and put $10 billion on the table for that entire industry. So you have to have incentives in place, you have to go after the businesses you want, and now I’m going after the whole supply chain to support Micron and others who are coming. So, it’s very intentional. You don’t say, “We’re in New York. Everybody’s going to come,” because we’re in a competitive race and I’m a very competitive person. So I don’t want to lose that and I’ll do whatever I have to do to make sure people know that we are the place, and I’ll be judged by how many jobs we create. I’m starting off with 50,000 right there, so I’m already ahead of the game.

We’ve also created more manufacturing jobs, stopping a 30 year decline in manufacturing. Now we’re talking about advanced manufacturing. So, we have the evidence to show that in the three years I’ve been governor, really putting the focus on this, we’re seeing results already.

Dan Primack, Axios: How do you, you know — a big part of what you’re working on, and we’ve heard a bunch today about this Empire AI Initiative. And as part of this, you got about $275 million from the State and there’s another $150 million from the private sector. It’s an enormous amount of money. However, it’s also less than 10 percent, say of what OpenAI, a California company, raised in the private sector on its own just two weeks ago. Can companies in New York compete with what’s happening in Silicon Valley when you see — in AI — when you see the enormous amounts of money going into these companies?

Governor Hochul: I’m not competing with the private sector to own AI. My view is — as I announced in my State of the State last January — that whoever owns this next chapter of AI for public good will own everything. So what we have —

Dan Primack, Axios: What does that mean for public good?

Governor Hochul: I will be very happy to tell you. I was just at the University of Buffalo two weeks ago with Marilyn Simons and Tom Secunda — the individuals who helped us innovate this, which no other state in the nation has entertained. I can tell you that Microsoft and OpenAI — they have amazing supercomputers dedicated to AI for their own profit; for the private sector. But we said, “We want to democratize AI, make it available to solve society’s problems, innovate new cancer therapies, help us predict weather better than we have been, so I know when that storm is coming and what I can do to prepare for it,” and all kinds of social problems that we can solve by being creative. So what I decided to do is put $275 million with the Legislature’s support — and that’s not always the easiest thing to do — then convince them to let go of that money and really take a leap of faith with me. But then the private sector raised $150 million — but we have university partners. This is what sets us apart. I have Cornell and NYU and RPI and Flight Iron Institute, Columbia, CUNY and SUNY schools all have bought into this, so they get a piece of the action. Their researchers, their students can use the power that I’ve created at a place called Buffalo, New York — where I’m from — and that is going to power the whole state’s research. And so nobody else touched this.

Dan Primack, Axios: Are you — and you mentioned Buffalo, New York, and we were talking backstage — are you concerned about the power needs for this supercomputer and other AI projects in the State?

Governor Hochul: Well, I picked Buffalo for a variety of reasons — and we just announced another supercomputer at the University of Albany — but because power is less expensive Upstate, It’s more plentiful; space is less expensive. So it’s all being used across the State. But as far as its home — I have Niagara Falls, which has been powering our state since since the original Tesla. So, we’ve been doing this since the turn of the last century.

So, I’m always concerned about capacity though as we’re attracting more and more, you know, large data centers and the supply chain companies that are now rushing to New York. I mean, I’ve been bringing companies from all over the world to Upstate New York now because of this whole innovation ecosystem we’re creating. But I have to focus on — not just our wind and solar and hydro and geothermal — but we’re going to have to look at other sources as well and be real aggressive about it because the states that are leaning into the energy sources are the ones that’ll win the race and we cannot lose that.

Dan Primack, Axios: From your perspective, what is the biggest mistake businesses make when dealing with New York State government?

Governor Hochul: When they’re dealing with our state government they have to have more skin in the game, and I want them to be fostering our social goals. And let me explain why Micron was so attractive to us: I’m a mom. I used to work on Capitol Hill for Senator Moynihan a long time ago. When my kids were born, I had no child care, had to leave the workforce for a while. We talk to companies like Micron and we say, “We want a number of things from you. We’ll help you. We want you to provide child care on site.” A lot of companies would say, “I’m not sure.” I said, “Do you want to diversify your workforce? Would you like to get more women? Would you like to get young women? Would you like to have it be a family friendly place?” Guess what they’re building right now? A child care center on site. We want them to draw from the neighbors, the neighboring communities that are underserved — the City of Syracuse. We want you to put in workforce development programs. We’re literally changing the curriculum in nine counties around where Micron will go, working with our teachers union, to say, “We’re going to teach young people coding and other computer science skills while they’re still in grade school and high school.”

So when Micron says, “Why would we come to Upstate New York?” You’re asking me to do all these things to further your social goal. But this is for your workforce. You’ll have a workforce that is not transitional. You’re not always going to have to be hiring someone. They’re not going to leave you after 18 months. They will stay. And that is part of the culture of Upstate New York, where I’m from, with the legacy industries, like the Bethlehem Steels — where my dad and grandpa worked — and Kodak and Bausch and Lomb. I say to them, “One of the drivers of why people should be coming to New York State is that we have a workforce that is brilliant. But also, they’ll stay with the company unlike what happens in other parts of the United States.”

Dan Primack, Axios: Let me tie two things together. You talked about skin in the game and you’ve talked about Buffalo and Upstate New York. One of the biggest deals I guess you’ve done as Governor is getting the stadium financing deal done for your Buffalo Bills. I will say your Buffalo Bills.

Governor Hochul: No, no. The only team that plays in New York.

Dan Primack, Axios: Fair enough. The only team that plays in New York.

Governor Hochul: Okay, and I love my other teams too, but just —

Dan Primack, Axios: Fair. Look, I’m from Boston, I — good, yeah, slam the Jets and the Giants, I’m good with this.

Governor Hochul: You want to go there? Okay. How are the Red Sox doing? How are the Red Sox doing?

Dan Primack, Axios: We don’t waste our money. Okay, so we — let me just ask though — when you talked about skin in the game, the package for the new Bills stadium is the most public financing ever for a football stadium in the U.S. Why don’t the taxpayers of New York get some skin in the game themselves? Why was there talk about negotiating some actual equity for the State of New York in this team?

Governor Hochul: Here’s what I’m going to explain to you: Look at the more recent data. This is not the largest subsidy for a team.

Dan Primack, Axios: But it’s huge. Let’s just stipulate very big.

Governor Hochul: Well, in proportion to the cost. And I was very smart when I negotiated this because I said, “There’s no cost escalation for the State.” So we’re in for $650 million of what’ll be well over a $2 billion stadium. The State of Tennessee kicked in a billion for their stadium. So we’re not in that league. But also, what happened was it wasn’t just waking up one day and — oh, let’s do a new stadium. They had a lease that expired. Other states were looking to recruit them. I know this for a fact. It’s a small market, the Buffalo Bills, there’s companies, states and cities that were luring them. I had to close the deal, because this is part of the identity of most of Upstate New York. Most of Upstate New York affiliates with this team, and this is important — an economic driver as well. We get a return on investment. After 17 years, I will have paid back that $650 million just in the income tax on salaries from the players.

Dan Primack, Axios: In that amount of time, the value of the team could be five times what it is now, and it’s the owner of the team who’s going to get to benefit the most.

Governor Hochul: Well, I’ve made sure that they are a Buffalo Bills team, not one of the other five cities that I was in competition with. Remember, I don’t lose anything — we don’t lose. This is an economic decision and the money will be paid back in 17 years, or perhaps sooner the way the salaries are going.

Dan Primack, Axios: Let me ask something else about balancing because you’ve talked about balancing, which is obviously the New York City congestion tax, or the congestion fee, rather, which you decided to kill shortly before it went into impact. How do you balance economic needs of the City and of the State with your climate goal?

Governor Hochul: Again, I’m going to correct a word here — kill versus pause.

Dan Primack, Axios: Okay, indefinitely pause. Is that indefinite going to come off?

Governor Hochul: I never used the word indefinitely. Those are people who are criticizing my decision to say that at this point — when we are dealing with escalating inflation, which was not even a factor — this is the first time in four years that inflation has really been a real burden for New Yorkers.

Fifteen dollars to start out of the blue. All of a sudden, turn it on — it didn’t take into consideration how New Yorkers are struggling right now. So, I said we’re going to put this on a pause for now, because I also have many other energy goals and climate goals that I’m focused on, but that does not mean it is dead. I know how to kill something. I did not kill it.

Dan Primack, Axios: You’ve said there’d be — I think you said, and correct me if I’m wrong — there’d be a replacement plan by year-end. Is that still on target?

Governor Hochul: Yes. We have until the year-end.

Dan Primack, Axios: You have until year-end. Do you expect that by year-end, there will be a replacement plan?

Governor Hochul: I will have revealed, to the world, the strategy that we’ve been working on for a long time with the Legislature, which is also involved. I want to be clear on that. The Legislature is not in session right now, but that was a decision that was based on the fact that $15 is too much for New Yorkers right now. And, even London — that people tout and look at what they did in London — they started at €8 at the time and gradually, over time, went up to that, so there’s not a shock to the system.

And, also, I’m focused on bringing the City back. People can work remotely, right? This wasn’t even an option when this congestion pricing was put in place in 2019. It wasn’t even an option. Of course you’re going to come to work. And it’s $3,800 more a year at $15.

That’s a lot for a teacher, or a health care worker, or a delivery person coming in from Queens or a plumber coming into town. So, I’m just the kind of Governor that’s going to look at the impacts of decisions — who’s being hurt by this? Can they defend themselves? Do they have lobbyists? Do they have access to the editorial boards? No, these folks don’t. I was their voice, but I’m also saying, I am so vested in making sure that we achieve our climate goals because I believe in them.

I grew up in a toxic environmental dump. The air was orange when I was growing up because of the smoke billowing out of the steel plant, which created 20,000 jobs, but nobody cared about the environmental impact. So, I’m going to make sure that New York continues to be nation leading and achieving our energy goals, our climate goals.

Dan Primack, Axios: Do you feel the remote work or the hybrid work revolution — call it post-COVID — do you feel that’s changed Manhattan permanently?

Governor Hochul: Yes. Yes, it has. But we can always reimagine Manhattan just like we did after 9/11 — and, I give Mayor Bloomberg a lot of credit for what he did during that era. When you look at this place, people did not live in lower Manhattan, they worked there but they never lived there. Now, it is a thriving 24/7 community.

We can do that in Midtown as well, and I’m convinced of this — that we can take with the laws I had to change because you couldn’t convert commercial into residential without a change in the law that I was able to secure just a few months ago. Now developers can look at a commercial building in Midtown and say, “You know what? It’s only 30 percent full. I’m not sure people are coming back. Let’s convert it into housing.”

Now I’ve got more affordability because I’ve created supply, which is everything.

Dan Primack, Axios: You mentioned Mayor Bloomberg. Let me ask about a more recent, current mayor. Business people talk all the time about wanting certainty. They often do it for their own purposes. How is it problematic for New York City’s business particularly, to have a mayor who is under indictment?

Governor Hochul: I speak to business leaders all day long, including this morning over a breakfast meeting. Some significant leaders. And I asked them that question: How are you feeling? And the answer was, “Well, three weeks ago, it was a hair on fire moment.” And I’ve stepped in to offer the stability to say, we’ll work with the Mayor to get through this because I come from a business family. I know uncertainty is paralyzing, but they are expressing to me that they now have confidence, there’s been changes in the administration.

They know that I’m keeping an eye on this situation because I want the City — and I represent 8.3 million New York City residents as well. These are my constituents. We will make sure that their services are provided. They will not see a disruption in what they’re accustomed to getting because they deserve to have the best. And I’m watching all this.

Dan Primack, Axios: You obviously originally were running mates, or you served under former Governor Cuomo. There’s lots of talk about him possibly running for mayor here. I’m not asking, obviously, who you would endorse. I’m asking, should voters consider him as a viable candidate if he chooses to run, given what happened in the past and some of the things you’ve said about what he did in the past?

Governor Hochul: I’m not here to pass judgment on people right now. But I will say this: New Yorkers deserve people with integrity and accomplishments and who do things for the right reasons. Who will do it for the benefit of the people and not their own self-serving reasons. So I will be looking for people like that.

Right now we have a mayor — we have an elected mayor of the City of New York. Everything could change or everything may not change. But we do know we have an election two weeks from now. Two weeks from now. And that is the one that we’re focused on, as well as my intensive, intensive work — not just for Kamala Harris.

I just got back from seeing her in Michigan and we were in Pennsylvania, but here in New York, we have the opportunity to give President Kamala Harris a Democratic House Representatives. And I am laser focused on making sure Hakeem Jeffries, our very own New Yorker who knows our community and its needs and knows I’m going to need money for the MTA for example. Give me more money for public transit. That’s my number one ask. I have to make sure we pick up some seats in the Hudson Valley. And in Long Island, I just came in from Long Island just a little short time ago. And, you know, the polls are showing that areas that were written off, are now in place. So the world is going to change in two weeks.

Dan Primack, Axios: Let me ask one quick final question because we are out of time. You have said you are, I think the term was “Not going anywhere.” Plan to run for reelection here. If Kamala Harris wins the White House and she calls you up, says, “Governor Hochul, we would like you to come down to D.C. and serve as secretary of X.” Are you going?

Governor Hochul: I’m going to say this and you can quote me 1,000 times: “President Harris, I’m honored that you’d consider me to join your brand new administration — historic. I’m so excited about you, but I’m going to do better for you continuing as the Governor of New York because you’re going to need allies in our state houses to make sure that we continue the great partnership that I’ve had with the Biden Administration. And I’m not going anywhere.”

Dan Primack, Axios: Governor. Thank you. Appreciate it

MIL OSI USA News –

January 25, 2025

Category: Sport and recreation

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Esther Britten, Deputy Director and Head of Events at UK Sport, said:

Councillor Martin Smith, Chair of the Economic Development and Skills Committee at Sheffield City Council, said:

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