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The annual report by the International Communications Consultancy Organisation crowns the agency in the revenue bracket that exceeds 30 million dollars.

According to the annual International Communications Consultancy Organisation (ICCO) ranking, Pomilio Blumm has emerged as the world’s premier communication company for growth rate^*. The institutional communication agency leads the list compiled by the ICCO, which comprises 40 associations representing 82 countries worldwide and over 3,000 public relations firms. According to PRovoke, the specialised website that published ICCO’s data, Pomilio Blumm achieved these results by successfully securing international contracts, resulting in extremely positive financial outcomes. The company has thus proven its growth on an international scale. The Financial Times, one of the most authoritative financial newspapers in the world, had previously included the Italian communication agency in its ranking of the best companies in Europe.

‘’We have achieved growth figures similar to start-ups, despite being a ‘historic’ company with a long-standing presence in the market. That’s why we believe it is essential to continue investing in research and innovation to anticipate future communication trends’’, explains Franco Pomilio, President of Pomilio Blumm.

Specifically, the agency recorded a revenue increase of 65% over 2021, with improved company performance (notably increased EBITDA and capitalisation index). Operating profit more than tripled compared to 2021, with further development in the international and non-European markets. Pomilio Blumm already operates with 25 contracts currently in its portfolio, spanning from Latin America to Africa, from the Balkan-Caucasian region to the East, especially in the Indian subcontinent.

As stated by the Financial Times in its FT 1000 Europe’s Fastest Growing Companies list, with 125 active contracts, Pomilio Blumm is the sixth largest company in terms of revenue in 2021, considering the ‘enlarged’ advertising sector at the European level (including the U.K.) with an absolute growth rate of 161 percent and a compound annual growth rate of 37.7 percent.

On top of that, the company’s educational model, which already created a profiled multidisciplinary network offering high-level training in communication, has found new momentum in the upcoming debut of the Summer School in elective partnership with Maastricht University. The course will be held shortly during this month, at the strategic premises of the Maastricht University’s campus in Brussels and will involve Kai Jonas, president of the European Association of Social Psychology and professor at Maastricht University, Beatriz Ríos reporter and journalist at The Washington Post, and high-level experts.

*Fastest-growing larger PR firms with revenues exceeding $30 million.

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• Franco Pomilio

GlobeNewswire Distribution ID 1000832973

Compounding Top-Line Revenue Growth and Margin Initiatives Drive Accelerating Free Cash Flow and ROIC

PHOENIX, Aug. 02, 2023 (GLOBE NEWSWIRE) — WillScot Mobile Mini Holdings Corp. (“WillScot Mobile Mini” or the “Company”) (Nasdaq: WSC), the North American leader in innovative flexible space and storage solutions, today announced second quarter 2023 results and provided an update on operations and the current market environment, including the following highlights:

• Second quarter revenue increased 11% to $582 million, income from continuing operations increased 46% to $88 million, and Adjusted EBITDA increased 25% to $261 million year-over-year.
• Adjusted EBITDA Margin from continuing operations of 44.9% expanded 500 basis points year-over-year.
• Generated Cash From Operations of $202 million and Free Cash Flow of $160 million, up 7% and 130% year-over-year, respectively, and Free Cash Flow Margin of 27%.
• Maintained leverage at 3.0x Net Debt to Adjusted EBITDA at the end of Q2, which is at the bottom of our 3.0-3.5x target range.
• Invested $70 million of capital in three acquisitions during the quarter with a robust pipeline continuing in 2023.
• Returned $239 million to shareholders by repurchasing 5.4 million shares of Common Stock during the quarter, reducing economic share count by 9.1% over the last twelve months as of June 30, 2023¹.
• Generated 17% Return on Invested Capital (“ROIC”) over the last 12 months, which increased approximately 430 basis points year-over-year.

Brad Soultz, Chief Executive Officer of WillScot Mobile Mini, commented, “Top-line revenue growth continued in Q2 2023 as our leasing portfolio compounded predictably, with leasing revenue up 16% due to continued tailwinds from rate improvements and Value-Added Products (VAPS). With our enhanced CRM in place and two years of operating in SAP, margin enhancement initiatives drove Adjusted EBITDA margins to 44.9% and Free Cash Flow to $160 million. These are record profitability levels and indicative of the long-term earnings generation potential in our platform. As a result of our strong financial performance, low leverage, and high liquidity, we remain unconstrained from a capital allocation standpoint. We invested $43 million in Net Capex, which is in line with maintenance levels given fleet availability. And we allocated $70 million to three tuck-in acquisitions, as we continue to prosecute our programmatic M&A strategy. We returned $239 million of capital to our shareholders by repurchasing 5.4 million shares of our Common Stock during the quarter, reducing economic share count by 9.1% over the last twelve months.”

Soultz continued, “As the leading innovator of flexible space solutions, we were excited to roll out PRORACK^TM, our proprietary space management solution designed to deliver unparalleled organization, productivity, and efficiency in storage containers in test markets during the quarter. PRORACK is durable, is easy to use, and meets a variety of customer needs with flexible configurations to function as a workstation, material storage, pipe rack, tool crib, or a combination of all. This innovation, among others in our pipeline, gives us multiple paths to deliver $500 million of VAPS revenue as part of our incremental $1 billion of idiosyncratic growth levers.”

Soultz concluded, “The overall demand environment and mix of volume, pricing, and VAPS continue to support the substantial growth we expected in 2023, and we are reaffirming our guidance of $1,025 million to $1,075 million of Adjusted EBITDA. We expect record Adjusted EBITDA margins and Free Cash Flow this year, and are beginning to lay the groundwork for an exciting 2024.”

	Three Months Ended June 30,								Six Months Ended June 30,
(in thousands, except share data)	2023				2022				2023				2022
Revenue	$	582,089			$	522,890			$	1,147,557			$	974,061
Income from continuing operations	$	87,729			$	60,099			$	164,000			$	99,147
Adjusted EBITDA from continuing operations2	$	261,341			$	208,643			$	508,183			$	376,416
Adjusted EBITDA Margin (%)2		44.9	%			39.9	%			44.3	%			38.6	%
Net cash provided by operating activities	$	202,155			$	188,326			$	350,920			$	333,853
Free Cash Flow2,5	$	159,601			$	69,418			$	262,541			$	124,042
Weighted Average Dilutive Shares Outstanding		204,326,162				227,484,012				208,233,141				226,983,150
Free Cash Flow Margin (%)2,5		27.4	%			11.9	%			22.7	%			11.4	%
Return on Invested Capital2		18.1	%			14.6	%			17.3	%			13.0	%

	Three Months Ended June 30,						Six Months Ended June 30,
Adjusted EBITDA by Segment (in thousands)2,6	2023			2022			2023			2022
Modular	$	151,443		$	122,824		$	288,407		$	222,410
Storage		109,898			85,819			219,776			154,006
Consolidated Adjusted EBITDA	$	261,341		$	208,643		$	508,183		$	376,416

Second Quarter 2023 Results²

Tim Boswell, President and Chief Financial Officer, commented, “Our strong financial performance in Q2 2023 was driven by our long-duration pricing and Value-Added Products tailwinds, as well as structural margin improvements across all revenue lines in both segments. In the quarter, we generated $582 million of revenue, up 11% year-over-year, and $261 million of Adjusted EBITDA, up 25% year-over-year. Gross profit margin increased by 370 basis points, with expansion across all revenue streams. Adjusted EBITDA margin expanded by 500 basis points as we improved efficiency of our variable spend as well as operating leverage from our fixed costs. Free Cash Flow of $160 million grew by 130% and Free Cash Flow margin of 27% expanded over 1,500 basis points. And Return on Invested Capital expanded by 340 basis points to 18% in the quarter.”

Boswell continued, “The outstanding trajectory for growth, Free Cash Flow, and returns, gives us continued confidence to allocate capital wherever we see opportunity. We closed three acquisitions for $70 million during the quarter and see a strong tuck-in pipeline through the remainder of the year. We continued to take advantage of the opportunity to own more of our long-term earnings growth by repurchasing 21 million shares and reducing our economic share count by 9.1% over the last 12 months. Across our scalable platform, we see numerous organic and inorganic growth opportunities as we position the portfolio for 2024 and beyond.”

Boswell concluded, “Overall market conditions have remained consistent, so we are maintaining our 2023 Adjusted EBITDA guidance at a range of $1,025 million to $1,075 million and expect that margins will continue to trend stronger than our original expectations. At the midpoint of our guidance, and based on the strength of our year-to-date results, we expect that Free Cash Flow in 2023 will exceed $500 million, and based on Q2 results we have clear line of sight to the $650 million Free Cash Flow milestone that we set less than two years ago. Our consistent execution and reinvestment through our capital allocation framework will continue to generate sustainable growth and predictably compounding returns over time.”

Consolidated Q2 2023 Results From Continuing Operations

• Revenue of $582.1 million increased by 11.3% year-over-year due to our organic revenue growth initiatives and the impact of acquisitions. We estimate that acquisitions completed over the past four quarters contributed approximately $17 million to total revenues in the quarter.
• Adjusted EBITDA margin from continuing operations was 44.9% in Q2 2023 and increased 500 bps versus prior year driven by continued expansion of all margin lines. Most significantly, delivery and installation margins increased 230 bps versus prior year and leasing margins increased 90 bps versus prior year, both driven primarily by increased pricing. Additionally, selling, general, and administrative expenses included in Adjusted EBITDA decreased as a percentage of revenue by 260 bps versus 2022 driving the majority of the remaining margin expansion.
• Effective January 1, 2023, we transferred approximately 6,000 Ground Level Office (GLO) modular products from the Modular Solutions segment to our Storage Solutions segment. We transferred these legacy WillScot GLOs to the Storage Solutions segment because they are modified container products that can be operated more efficiently on the legacy Mobile Mini branch and logistics infrastructure. The adjustment transferred approximately $50 million of revenue and $21 million of Adjusted EBITDA on an annualized basis from Modular Solutions to Storage Solutions. We recast historical segment financial results and operating key performance indicators (KPIs) to reflect this transfer.

Modular Solutions Segment

• Revenue of $370.7 million increased by 10.6% year-over-year.
• Average modular space monthly rental rate increased $163 year-over-year, or 17.4%, to $1,102.
  • VAPS average monthly rate, a component of average modular space monthly rental rate above, increased $36 year-over-year, or 13%, to $308. For delivered units over the last 12 months, VAPS average monthly rate decreased $4 year-over-year, or 1%, to $471.
• Average modular space units on rent decreased 497 units year-over-year, or 0.6%, to 81,886.
• Adjusted EBITDA of $151.4 million increased by 23.3% year-over-year and Adjusted EBITDA Margin of 40.8% expanded by 420 basis points.

Storage Solutions Segment

• Revenue of $211.4 million increased by 12.7% year-over-year.
• Average portable storage monthly rental rate increased $48 year-over-year, or 27.0%, to $226.
• Average portable storage units on rent decreased by 10,282 units year-over-year, or 6.3%, to 153,011.
• Modular space, representing 19,200 Ground Level Office modular products, average monthly rental rate of $835 increased 25.0% year-over-year as a result of price optimization and increased VAPS penetration.
  • VAPS average monthly rate, a component of average modular space monthly rental rate above, increased $47 year-over-year, or 62%, to $122.
• Average modular space units on rent decreased 3,032, or 13.6%, year-over-year, to 19,200.
• Adjusted EBITDA of $109.9 million increased by 28.1% year-over-year and Adjusted EBITDA Margin of 52.0% expanded by 630 basis points.

Capitalization and Liquidity Update²

As of and for the three months ended June 30, 2023:

• Generated $160 million of Free Cash Flow in the second quarter, up 130% year-over-year.
• Maintained over $1.0 billion of excess availability under our asset backed revolving credit facility.
• Weighted average pre-tax interest rate, inclusive of our 3.44% floating-to-fixed interest rate swap, was approximately 5.8%, and annual cash interest expense based on the current debt structure and benchmark rates was approximately $179 million.
• No debt maturities prior to 2025.
• Maintained leverage of 3.0x last twelve months Adjusted EBITDA from continuing operations of $1,016 million. This leverage ratio is at the low end of our target range of 3.0x to 3.5x, which combined with accelerating Free Cash Flow, a flexible covenant structure, and excess capacity in our ABL gives us ample flexibility to fund multiple capital allocation initiatives.
• Repurchased 5.4 million shares of Common Stock for $239 million in the second quarter 2023, contributing to a 9.1% reduction in our economic share count over the last twelve months.

2023 Outlook ^{2, 3, 4}
This guidance is subject to risks and uncertainties, including those described in “Forward-Looking Statements” below.

$M	2022 Results From Continuing Operations		Prior 2023 Outlook	Current 2023 Outlook
Revenue	$2,143		$2,350 – $2,450	$2,350 – $2,450
Adjusted EBITDA2,3	$884		$1,025 – $1,075	$1,025 – $1,075
Net CAPEX3,4	$367		$250 – $300	$250 – $300

^{1 – Assumes common shares outstanding as of June 30, 2023 versus common shares outstanding plus warrants outstanding under the treasury stock method as of June 30, 2022 and the closing stock price of $47.79 on June 30, 2023.
2 – Adjusted EBITDA, Adjusted EBITDA Margin, Free Cash Flow, Free Cash Flow Margin, Net Debt to Adjusted EBITDA, and Return on Invested Capital are non-GAAP financial measures. Further information and reconciliations for these non-GAAP measures to the most directly comparable financial measure under generally accepted accounting principles in the US (“GAAP”) are included at the end of this press release.
3 – Information reconciling forward-looking Adjusted EBITDA and Net CAPEX to GAAP financial measures is unavailable to the Company without unreasonable effort and therefore neither the most comparable GAAP measures nor reconciliations to the most comparable GAAP measures are provided.
4 – Net CAPEX is a non-GAAP financial measure. Please see the non-GAAP reconciliation tables included at the end of this press release.
5 – Free Cash Flow incorporates results from discontinued operations. For comparability, reported revenue is adjusted to include results from discontinued operations to calculate Free Cash Flow Margin.
6 – During the first quarter of 2023, the ground level office business within the Modular segment was transferred to the Storage segment, and associated revenues, expenses, and operating metrics were transferred to the Storage segment. All periods presented have been retrospectively revised to reflect this change within the Modular and Storage segments. See further discussion within the Unaudited Segment Operating Data tables included at the end of this press release.}

Non-GAAP Financial Measures
This press release includes non-GAAP financial measures, including Adjusted EBITDA, Adjusted EBITDA Margin, Free Cash Flow, Free Cash Flow Margin, Return on Invested Capital and Net CAPEX. Adjusted EBITDA is defined as net income (loss) plus net interest (income) expense, income tax expense (benefit), depreciation and amortization adjusted to exclude certain non-cash items and the effect of what we consider transactions or events not related to our core business operations, including net currency gains and losses, goodwill and other impairment charges, restructuring costs, costs to integrate acquired companies, costs incurred related to transactions, non-cash charges for stock compensation plans, gains and losses resulting from changes in fair value and extinguishment of common stock warrant liabilities, and other discrete expenses. Adjusted EBITDA Margin is defined as Adjusted EBITDA divided by revenue. Free Cash Flow is defined as net cash provided by operating activities, less purchases of, and proceeds from, rental equipment and property, plant and equipment, which are all included in cash flows from investing activities. Free Cash Flow Margin is defined as Free Cash Flow divided by revenue. Return on Invested Capital is defined as adjusted earnings before interest and amortization divided by net assets. Adjusted earnings before interest and amortization is the sum of income (loss) before income tax expense, net interest (income) expense, amortization adjusted for non-cash items considered non-core to business operations including net currency (gains) losses, goodwill and other impairment charges, restructuring costs, costs to integrate acquired companies, non-cash charges for stock compensation plans, gains and losses resulting from changes in fair value and extinguishment of common stock warrant liabilities, and other discrete expenses, reduced by our estimated statutory tax rate. Given we are not a significant US taxpayer due to our current tax attributes, we include estimated taxes at our current statutory tax rate of approximately 26%. Net assets is total assets less goodwill and intangible assets, net and all non-interest bearing liabilities and is calculated as a five quarter average. Net CAPEX is defined as purchases of rental equipment and refurbishments and purchases of property, plant and equipment (collectively, “Total Capital Expenditures”), less proceeds from the sale of rental equipment and proceeds from the sale of property, plant and equipment (collectively, “Total Proceeds”), which are all included in cash flows from investing activities. Net Debt to Adjusted EBITDA ratio is defined as Net Debt divided by Adjusted EBITDA. The Company believes that Adjusted EBITDA and Adjusted EBITDA margin are useful to investors because they (i) allow investors to compare performance over various reporting periods on a consistent basis by removing from operating results the impact of items that do not reflect core operating performance; (ii) are used by our board of directors and management to assess our performance; (iii) may, subject to the limitations described below, enable investors to compare the performance of the Company to its competitors; (iv) provide additional tools for investors to use in evaluating ongoing operating results and trends; and (v) align with definitions in our credit agreement. The Company believes that Free Cash Flow and Free Cash Flow Margin are useful to investors because they allow investors to compare cash generation performance over various reporting periods and against peers. The Company believes that Return on Invested Capital provides information about the long-term health and profitability of the business relative to the Company’s cost of capital. The Company believes that the presentation of Net CAPEX provides useful information to investors regarding the net capital invested into our rental fleet and plant, property and equipment each year to assist in analyzing the performance of our business. Adjusted EBITDA is not a measure of financial performance or liquidity under GAAP and, accordingly, should not be considered as an alternative to net income or cash flow from operating activities as an indicator of operating performance or liquidity. These non-GAAP measures should not be considered in isolation from, or as an alternative to, financial measures determined in accordance with GAAP. Other companies may calculate Adjusted EBITDA and other non-GAAP financial measures differently, and therefore the Company’s non-GAAP financial measures may not be directly comparable to similarly-titled measures of other companies. For reconciliation of the non-GAAP measures used in this press release (except as explained below), see “Reconciliation of Non-GAAP Financial Measures” included in this press release.

Information regarding the most comparable GAAP financial measures and reconciling forward-looking Adjusted EBITDA to those GAAP financial measures is unavailable to the Company without unreasonable effort. We cannot provide the most comparable GAAP financial measures nor reconciliations of forward-looking Adjusted EBITDA to GAAP financial measures because certain items required for such reconciliations are outside of our control and/or cannot be reasonably predicted, such as the provision for income taxes. Preparation of such reconciliations would require a forward-looking balance sheet, statement of income and statement of cash flow, prepared in accordance with GAAP, and such forward-looking financial statements are unavailable to the Company without unreasonable effort. Although we provide a range of Adjusted EBITDA that we believe will be achieved, we cannot accurately predict all the components of the Adjusted EBITDA calculation. The Company provides Adjusted EBITDA guidance because we believe that Adjusted EBITDA, when viewed with our results under GAAP, provides useful information for the reasons noted above.

Conference Call Information

WillScot Mobile Mini Holdings will host a conference call and webcast to discuss its second quarter 2023 results and 2023 outlook at 10 a.m. Eastern Time on Thursday, August 3, 2023. To access the live call by phone, use the following link: https://register.vevent.com/register/BId8ecf855ab1f4a428e5414ba088a5bc6.

You will be provided with dial-in details after registering. To avoid delays, we recommend that participants dial into the conference call 15 minutes ahead of the scheduled start time. A live webcast will also be accessible via the “Events & Presentations” section of the Company’s investor relations website www.willscotmobilemini.com. Choose “Events” and select the information pertaining to the WillScot Mobile Mini Holdings Second Quarter 2023 Conference Call. Additionally, there will be slides accompanying the webcast. Please allow at least 15 minutes prior to the call to register, download and install any necessary software. For those unable to listen to the live broadcast, an audio webcast of the call will be available for 12 months on the Company’s investor relations website.

About WillScot Mobile Mini

WillScot Mobile Mini trades on the Nasdaq stock exchange under the ticker symbol “WSC.” Headquartered in Phoenix, Arizona, the Company is a leading business services provider specializing in innovative flexible space and storage solutions. WillScot Mobile Mini services diverse end markets across all sectors of the economy from a network of approximately 240 branch locations and additional drop lots throughout the United States, Canada, and Mexico.

Forward-Looking Statements

This press release contains forward-looking statements (including the guidance/outlook contained herein) within the meaning of the U.S. Private Securities Litigation Reform Act of 1995 and Section 21E of the Securities Exchange Act of 1934, as amended. The words “estimates,” “expects,” “anticipates,” “believes,” “forecasts,” “plans,” “intends,” “may,” “will,” “should,” “shall,” “outlook,” “guidance,” “see,” “have confidence” and variations of these words and similar expressions identify forward-looking statements, which are generally not historical in nature. Certain of these forward-looking statements include statements relating to: our mergers and acquisitions pipeline, acceleration of our run rate, acceleration toward and the timing of our achievement of our three to five year milestones, growth and acceleration of cash flow, driving higher returns on invested capital, and Adjusted EBITDA margin expansion. Forward-looking statements are subject to a number of risks, uncertainties, assumptions and other important factors, many of which are outside our control, which could cause actual results or outcomes to differ materially from those discussed in the forward-looking statements. Although the Company believes that these forward-looking statements are based on reasonable assumptions, they are predictions and we can give no assurance that any such forward-looking statement will materialize. Important factors that may affect actual results or outcomes include, among others, our ability to acquire and integrate new assets and operations; our ability to judge the demand outlook; our ability to achieve planned synergies related to acquisitions; our ability to successfully execute our growth strategy, manage growth and execute our business plan; our estimates of the size of the markets for our products; the rate and degree of market acceptance of our products; the success of other competing modular space and portable storage solutions that exist or may become available; rising costs and inflationary pressures adversely affecting our profitability; potential litigation involving our Company; general economic and market conditions impacting demand for our products and services and our ability to benefit from an inflationary environment; our ability to maintain an effective system of internal controls; and such other risks and uncertainties described in the periodic reports we file with the SEC from time to time (including our Form 10-K for the year ended December 31, 2022), which are available through the SEC’s EDGAR system at www.sec.gov and on our website. Any forward-looking statement speaks only at the date on which it is made, and the Company disclaims any obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.

Additional Information and Where to Find It

Additional information can be found on the company’s website at www.willscotmobilemini.com.

Contact Information
Investor Inquiries:	Media Inquiries:
Nick Girardi	Jake Saylor
investors@willscotmobilemini.com	jake.saylor@willscot.com

WillScot Mobile Mini Holdings Corp.
Consolidated Statements of Operations
(Unaudited)

	Three Months Ended June 30,								Six Months Ended June 30,
(in thousands, except share and per share data)	2023				2022				2023				2022
Revenues:
Leasing and services revenue:
Leasing	$	449,320			$	386,386			$	889,271			$	737,945
Delivery and installation		112,754				110,841				219,384				196,380
Sales revenue:
New units		9,004				9,927				19,661				15,714
Rental units		11,011				15,736				19,241				24,022
Total revenues		582,089				522,890				1,147,557				974,061
Costs:
Costs of leasing and services:
Leasing		98,556				88,111				196,071				168,445
Delivery and installation		81,349				82,537				156,356				153,117
Costs of sales:
New units		4,795				5,321				11,003				9,077
Rental units		5,067				8,478				9,521				13,370
Depreciation of rental equipment		64,450				63,230				123,606				120,778
Gross profit		327,872				275,213				651,000				509,274
Expenses:
Selling, general and administrative		146,810				150,129				297,702				288,273
Other depreciation and amortization		17,346				14,951				34,519				30,313
Currency losses (gains), net		14				(173	)			6,789				(36	)
Other income, net		(2,838	)			(3,794	)			(6,197	)			(5,077	)
Operating income		166,540				114,100				318,187				195,801
Interest expense		47,246				33,153				92,112				63,723
Income from continuing operations before income tax		119,294				80,947				226,075				132,078
Income tax expense from continuing operations		31,565				20,848				62,075				32,931
Income from continuing operations		87,729				60,099				164,000				99,147
Discontinued operations:
Income from discontinued operations before income tax		—				17,140				4,003				32,927
Gain on sale of discontinued operations		—				—				176,078				—
Income tax expense from discontinued operations		—				3,863				45,468				7,527
Income from discontinued operations		—				13,277				134,613				25,400
Net income	$	87,729			$	73,376			$	298,613			$	124,547
Earnings per share from continuing operations attributable to WillScot Mobile Mini common shareholders:
Basic	$	0.44			$	0.27			$	0.80			$	0.45
Diluted	$	0.43			$	0.26			$	0.78			$	0.44
Earnings per share from discontinued operations attributable to WillScot Mobile Mini common shareholders:
Basic	$	—			$	0.06			$	0.66			$	0.11
Diluted	$	—			$	0.06			$	0.65			$	0.11
Earnings per share attributable to WillScot Mobile Mini common shareholders:
Basic	$	0.44			$	0.33			$	1.46			$	0.56
Diluted	$	0.43			$	0.32			$	1.43			$	0.55
Weighted average shares:
Basic		200,946,619				223,376,276				204,635,764				222,196,986
Diluted		204,326,162				227,484,012				208,233,141				226,983,150

Unaudited Segment Operating Data

The Company operates in two reportable segments: Modular and Storage. Modular represents the activities of the North American modular business, excluding ground level offices, which were transferred to the Storage segment during the first quarter of 2023. Storage represents the activities of the North American portable storage and ground level office business. All periods presented have been retrospectively revised to reflect this change within the Modular and Storage segments. For the three months ended June 30, 2022, this resulted in approximately $12.4 million of revenue, $7.2 million of gross profit, and $5.1 million of Adjusted EBITDA being transferred from the Modular segment to the Storage segment. For the six months ended June 30, 2022, this resulted in approximately $23.6 million of revenue, $13.5 million of gross profit, and $9.4 million of Adjusted EBITDA being transferred from the Modular segment to the Storage segment. As part of the transfer, we adjusted average monthly rental rate for modular units (Ground Level Offices) in the Storage segment to only include Value-Added Products specifically applicable to Ground Level Offices.

Comparison of Three Months Ended June 30, 2023 and 2022

	Three Months Ended June 30, 2023
(in thousands, except for units on rent and rates)	Modular				Storage				Total
Revenue	$	370,675			$	211,414			$	582,089
Gross profit	$	172,740			$	155,132			$	327,872
Adjusted EBITDA from continuing operations	$	151,443			$	109,898			$	261,341
Capital expenditures for rental equipment	$	50,371			$	5,210			$	55,581
Average modular space units on rent		81,886				19,200				101,086
Average modular space utilization rate		65.8	%			62.3	%			65.1	%
Average modular space monthly rental rate	$	1,102			$	835			$	1,051
Average portable storage units on rent		457				153,011				153,468
Average portable storage utilization rate		58.0	%			73.2	%			73.1	%
Average portable storage monthly rental rate	$	238			$	226			$	226

	Three Months Ended June 30, 2022
(in thousands, except for units on rent and rates)	Modular				Storage				Total
Revenue	$	335,254			$	187,636			$	522,890
Gross profit	$	146,611			$	128,602			$	275,213
Adjusted EBITDA from continuing operations	$	122,824			$	85,819			$	208,643
Capital expenditures for rental equipment	$	82,482			$	34,282			$	116,764
Average modular space units on rent		82,383				22,232				104,615
Average modular space utilization rate		67.7	%			72.7	%			68.7	%
Average modular space monthly rental rate	$	939			$	668			$	882
Average portable storage units on rent		476				163,293				163,769
Average portable storage utilization rate		53.7	%			86.1	%			86.0	%
Average portable storage monthly rental rate	$	211			$	178			$	178

Comparison of Six Months Ended June 30, 2023 and 2022

	Six Months Ended June 30, 2023
(in thousands, except for units on rent and rates)	Modular				Storage				Total
Revenue	$	720,345			$	427,212			$	1,147,557
Gross profit	$	338,075			$	312,925			$	651,000
Adjusted EBITDA from continuing operations	$	288,407			$	219,776			$	508,183
Capital expenditures for rental equipment	$	89,783			$	12,555			$	102,338
Average modular space units on rent		81,894				19,717				101,611
Average modular space utilization rate		66.0	%			63.8	%			65.6	%
Average modular space monthly rental rate	$	1,074			$	796			$	1,020
Average portable storage units on rent		479				158,801				159,280
Average portable storage utilization rate		60.1	%			76.0	%			75.9	%
Average portable storage monthly rental rate	$	227			$	221			$	221

	Six Months Ended June 30, 2022
(in thousands, except for units on rent and rates)	Modular				Storage				Total
Revenue	$	623,801			$	350,260			$	974,061
Gross profit	$	269,209			$	240,065			$	509,274
Adjusted EBITDA from continuing operations	$	222,410			$	154,006			$	376,416
Capital expenditures for rental equipment	$	140,059			$	54,453			$	194,512
Average modular space units on rent		81,533				22,558				104,091
Average modular space utilization rate		67.3	%			73.8	%			68.6	%
Average modular space monthly rental rate	$	917			$	626			$	854
Average portable storage units on rent		469				157,809				158,278
Average portable storage utilization rate		53.1	%			84.7	%			84.5	%
Average portable storage monthly rental rate	$	186			$	173			$	173

WillScot Mobile Mini Holdings Corp.
Consolidated Balance Sheets

(in thousands, except share data)	June 30, 2023 (unaudited)				December 31, 2022
Assets
Cash and cash equivalents	$	7,660			$	7,390
Trade receivables, net of allowances for credit losses at June 30, 2023 and December 31, 2022 of $68,096 and $57,048, respectively		441,643				409,766
Inventories		44,360				41,030
Prepaid expenses and other current assets		42,868				31,635
Assets held for sale – current		8,924				31,220
Total current assets		545,455				521,041
Rental equipment, net		3,196,518				3,077,287
Property, plant and equipment, net		315,444				304,659
Operating lease assets		234,468				219,405
Goodwill		1,012,135				1,011,429
Intangible assets, net		407,250				419,125
Other non-current assets		7,230				6,683
Assets held for sale – non-current		—				268,022
Total long-term assets		5,173,045				5,306,610
Total assets	$	5,718,500			$	5,827,651
Liabilities and equity
Accounts payable	$	91,783			$	109,349
Accrued expenses		120,301				109,542
Accrued employee benefits		43,647				56,340
Deferred revenue and customer deposits		209,726				203,793
Operating lease liabilities – current		54,110				50,499
Current portion of long-term debt		13,952				13,324
Liabilities held for sale – current		—				19,095
Total current liabilities		533,519				561,942
Long-term debt		3,035,521				3,063,042
Deferred tax liabilities		506,425				401,453
Operating lease liabilities – non-current		181,319				169,618
Other non-current liabilities		23,171				18,537
Liabilities held for sale – non-current		—				47,759
Long-term liabilities		3,746,436				3,700,409
Total liabilities		4,279,955				4,262,351
Preferred Stock: $0.0001 par, 1,000,000 shares authorized and zero shares issued and outstanding at June 30, 2023 and December 31, 2022		—				—
Common Stock: $0.0001 par, 500,000,000 shares authorized and 198,375,893 and 207,951,682 shares issued and outstanding at June 30, 2023 and December 31, 2022, respectively		20				21
Additional paid-in-capital		2,435,571				2,886,951
Accumulated other comprehensive loss		(44,109	)			(70,122	)
Accumulated deficit		(952,937	)			(1,251,550	)
Total shareholders’ equity		1,438,545				1,565,300
Total liabilities and shareholders’ equity	$	5,718,500			$	5,827,651

Reconciliation of Non-GAAP Financial Measures

In addition to using GAAP financial measurements, we use certain non-GAAP financial information that we believe is important for purposes of comparison to prior periods and development of future projections and earnings growth prospects. This information is also used by management to measure the profitability of our ongoing operations and analyze our business performance and trends.

We evaluate business segment performance on Adjusted EBITDA, a non-GAAP measure that excludes certain items as described below. We believe that evaluating segment performance excluding such items is meaningful because it provides insight with respect to intrinsic operating results of the Company.

We also regularly evaluate gross profit by segment to assist in the assessment of the operational performance of each operating segment. We consider Adjusted EBITDA to be the more important metric because it more fully captures the business performance of the segments, inclusive of indirect costs.

We also evaluate Free Cash Flow, a non-GAAP measure that provides useful information concerning cash flow available to fund our capital allocation alternatives.

Adjusted EBITDA From Continuing Operations

Adjusted EBITDA is a non-GAAP measure defined as net income (loss) before income tax expense (benefit), net interest (income) expense, depreciation and amortization adjusted for certain items not related to our core business operations, including net currency (gains) losses, goodwill and other impairment charges, restructuring costs, transaction costs, costs to integrate acquired companies, non-cash charges for stock compensation plans, gains and losses resulting from changes in fair value and extinguishment of common stock warrant liabilities, and other discrete expenses.

• Currency (gains) losses, net: on monetary assets and liabilities denominated in foreign currencies other than the subsidiaries’ functional currency.
• Goodwill and other impairment charges related to non-cash costs associated with impairment charges to goodwill, other intangibles, rental fleet and property, plant and equipment.
• Restructuring costs, lease impairment expense, and other related charges associated with restructuring plans designed to streamline operations and reduce costs including employee termination costs.
• Transaction costs including legal and professional fees and other transaction specific related costs.
• Costs to integrate acquired companies, including outside professional fees, non-capitalized costs associated with system integrations, non-lease branch and fleet relocation expenses, employee training costs, and other costs required to realize cost or revenue synergies.
• Non-cash charges for stock compensation plans.
• Gains and losses resulting from changes in fair value and extinguishment of common stock warrant liabilities.
• Other expense, including consulting expenses related to certain one-time projects, financing costs not classified as interest expense, and gains and losses on disposals of property, plant, and equipment.

Adjusted EBITDA has limitations as an analytical tool, and you should not consider the measure in isolation or as a substitute for net income (loss), cash flow from operations or other methods of analyzing the Company’s results as reported under US GAAP. Some of these limitations are:

• Adjusted EBITDA does not reflect changes in, or cash requirements for our working capital needs;
• Adjusted EBITDA does not reflect our interest expense, or the cash requirements necessary to service interest or principal payments, on our indebtedness;
• Adjusted EBITDA does not reflect our tax expense or the cash requirements to pay our taxes;
• Adjusted EBITDA does not reflect historical cash expenditures or future requirements for capital expenditures or contractual commitments;
• Adjusted EBITDA does not reflect the impact on earnings or changes resulting from matters that we consider not to be indicative of our future operations;
• although depreciation and amortization are non-cash charges, the assets being depreciated and amortized will often have to be replaced in the future and Adjusted EBITDA does not reflect any cash requirements for such replacements; and
• other companies in our industry may calculate Adjusted EBITDA differently, limiting its usefulness as a comparative measure.

Because of these limitations, Adjusted EBITDA should not be considered as discretionary cash available to reinvest in the growth of our business or as measures of cash that will be available to meet our obligations.

The following table provides unaudited reconciliations of Income from continuing operations to Adjusted EBITDA from continuing operations:

	Three Months Ended June 30,							Six Months Ended June 30,
(in thousands)	2023			2022				2023			2022
Income from continuing operations	$	87,729		$	60,099			$	164,000		$	99,147
Income tax expense from continuing operations		31,565			20,848				62,075			32,931
Interest expense		47,246			33,153				92,112			63,723
Depreciation and amortization		81,796			78,181				158,125			151,091
Currency losses (gains), net		14			(173	)			6,789			(36	)
Restructuring costs, lease impairment expense and other related charges (income)		—			(95	)			22			168
Transaction costs		—			22				—			35
Integration costs		2,247			5,193				6,120			9,280
Stock compensation expense		9,348			9,128				17,498			15,401
Other		1,396			2,287				1,442			4,676
Adjusted EBITDA from continuing operations	$	261,341		$	208,643			$	508,183		$	376,416

The following tables provide unaudited reconciliations of Income before income tax to Adjusted EBITDA for the ground level office segment adjustment:

	Three Months Ended June 30,			Six Months Ended June 30,
(in thousands)	2022			2022
Income before income tax	$	4,147		$	7,600
Depreciation		910			1,819
Adjusted EBITDA	$	5,057		$	9,419

	Twelve Months Ended December 31,
(in thousands)	2022
Income before income tax	$	17,142
Depreciation		3,624
Adjusted EBITDA	$	20,766

Adjusted EBITDA Margin From Continuing Operations
We define Adjusted EBITDA Margin as Adjusted EBITDA divided by revenue. Management believes that the presentation of Adjusted EBITDA Margin provides useful information to investors regarding the performance of our business. The following table provides unaudited reconciliations of Adjusted EBITDA Margin:

	Three Months Ended June 30,								Six Months Ended June 30,
(in thousands)	2023				2022				2023				2022
Adjusted EBITDA from continuing operations (A)	$	261,341			$	208,643			$	508,183			$	376,416
Revenue (B)	$	582,089			$	522,890			$	1,147,557			$	974,061
Adjusted EBITDA Margin from Continuing Operations (A/B)		44.9	%			39.9	%			44.3	%			38.6	%
Income from continuing operations (C)	$	87,729			$	60,099			$	164,000			$	99,147
Income from Continuing Operations Margin (C/B)		15.1	%			11.5	%			14.3	%			10.2	%

Net Debt to Adjusted EBITDA From Continuing Operations ratio
Net Debt to Adjusted EBITDA ratio is defined as Net Debt divided by Adjusted EBITDA from continuing operations from the last twelve months. We define Net Debt as total debt from continuing operations net of total cash and cash equivalents from continuing operations. Management believes that the presentation of Net Debt to Adjusted EBITDA ratio provides useful information to investors regarding the performance of our business. The following table provides an unaudited reconciliation of Net Debt to Adjusted EBITDA ratio:

(in thousands)	June 30, 2023
Long-term debt	$	3,035,521
Current portion of long-term debt		13,952
Total debt		3,049,473
Cash and cash equivalents		7,660
Net debt (A)	$	3,041,813
Adjusted EBITDA from continuing operations from the three months ended September 30, 2022	$	239,368
Adjusted EBITDA from continuing operations from the three months ended December 31, 2022		268,090
Adjusted EBITDA from continuing operations from the three months ended March 31, 2023		246,842
Adjusted EBITDA from continuing operations from the three months ended June 30, 2023		261,341
Adjusted EBITDA from continuing operations from the last twelve months (B)	$	1,015,641
Net Debt to Adjusted EBITDA ratio (A/B)		3.0

Free Cash Flow and Free Cash Flow Margin

Free Cash Flow is a non-GAAP measure. We define Free Cash Flow as net cash provided by operating activities, less purchases of, and proceeds from, rental equipment and property, plant and equipment, which are all included in cash flows from investing activities. Free Cash Flow Margin is defined as Free Cash Flow divided by Total Revenue including discontinued operations. Management believes that the presentation of Free Cash Flow and Free Cash Flow Margin provides useful additional information concerning cash flow available to fund our capital allocation alternatives. Free Cash Flow as presented includes amounts for the former Tank and Pump segment through September 30, 2022 and the former UK Storage Solutions segment through January 31, 2023.

The following table provides unaudited reconciliations of Free Cash Flow and Free Cash Flow Margin:

	Three Months Ended June 30,								Six Months Ended June 30,
(in thousands)	2023				2022				2023				2022
Net cash provided by operating activities	$	202,155			$	188,326			$	350,920			$	333,853
Purchase of rental equipment and refurbishments		(55,581	)			(130,153	)			(102,709	)			(225,389	)
Proceeds from sale of rental equipment		17,473				20,526				25,254				35,080
Purchase of property, plant and equipment		(4,453	)			(9,772	)			(11,189	)			(20,253	)
Proceeds from the sale of property, plant and equipment		7				491				265				751
Free Cash Flow (A)	$	159,601			$	69,418			$	262,541			$	124,042
Revenue from continuing operations (B)	$	582,089			$	522,890			$	1,147,557			$	974,061
Revenue from discontinued operations		—				58,751				8,694				116,474
Total Revenue including discontinued operations (C)	$	582,089			$	581,641			$	1,156,251			$	1,090,535
Free Cash Flow Margin (A/C)		27.4	%			11.9	%			22.7	%			11.4	%
Net cash provided by operating activities (D)	$	202,155			$	188,326			$	350,920			$	333,853
Net cash provided by operating activities margin (D/C)		34.7	%			32.4	%			30.3	%			30.6	%

Net CAPEX
We define Net CAPEX as purchases of rental equipment and refurbishments and purchases of property, plant and equipment (collectively, “Total Capital Expenditures”), less proceeds from the sale of rental equipment and proceeds from the sale of property, plant and equipment (collectively, “Total Proceeds”), which are all included in cash flows from investing activities. Management believes that the presentation of Net CAPEX provides useful information regarding the net capital invested in our rental fleet and property, plant and equipment each year to assist in analyzing the performance of our business. As presented below, Net CAPEX includes amounts for the former Tank and Pump segment through September 30, 2022 and the former UK Storage Solutions segment through January 31, 2023.

The following table provides unaudited reconciliations of Net CAPEX:

	Three Months Ended June 30,								Six Months Ended June 30,
(in thousands)	2023				2022				2023				2022
Total purchases of rental equipment and refurbishments	$	(55,581	)		$	(130,153	)		$	(102,709	)		$	(225,389	)
Total proceeds from sale of rental equipment		17,473				20,526				25,254				35,080
Net CAPEX for Rental Equipment		(38,108	)			(109,627	)			(77,455	)			(190,309	)
Purchase of property, plant and equipment		(4,453	)			(9,772	)			(11,189	)			(20,253	)
Proceeds from sale of property, plant and equipment		7				491				265				751
Net CAPEX including discontinued operations		(42,554	)			(118,908	)			(88,379	)			(209,811	)
UK Storage Solutions Net CAPEX		—				(7,601	)			87				(18,952	)
Tank and Pump Net CAPEX		—				(5,762	)			—				(13,503	)
Net CAPEX from continuing operations	$	(42,554	)		$	(105,545	)		$	(88,466	)		$	(177,356	)

Return on Invested Capital

Return on Invested Capital is defined as adjusted earnings before interest and amortization divided by net assets. Adjusted earnings before interest and amortization is the sum of income (loss) before income tax expense, net interest (income) expense, amortization adjusted for non-cash items considered non-core to business operations including net currency (gains) losses, goodwill and other impairment charges, restructuring costs, costs to integrate acquired companies, non-cash charges for stock compensation plans, gains and losses resulting from changes in fair value and extinguishment of common stock warrant liabilities, and other discrete expenses, reduced by estimated taxes. Given we are not a significant US taxpayer due to our current tax attributes, we include estimated taxes at our current statutory tax rate of approximately 26% effective in 2023. Net assets is total assets less goodwill, and intangible assets, net and all non-interest bearing liabilities. Denominator is calculated as a four quarter average for annual metrics and two quarter average for quarterly metrics.

The following table provides unaudited reconciliations of Return on Invested Capital. Average Invested Capital and Adjusted EBITDA related to our former Tank and Pump segment and former UK Storage Solutions segment have been excluded prospectively from July 1, 2022 and January 1, 2023, respectively, and prior periods have not been adjusted.

	Three Months Ended June 30,								Six Months Ended June 30,
(in thousands)	2023				2022				2023				2022
Total Assets	$	5,723,689			$	5,978,808			$	5,723,689			$	5,978,808
Goodwill		(1,012,135	)			(1,171,725	)			(1,012,135	)			(1,171,725	)
Intangible assets, net		(407,250	)			(446,578	)			(407,250	)			(446,578	)
Total Liabilities		(4,272,873	)			(4,204,858	)			(4,272,873	)			(4,204,858	)
Long Term Debt		3,035,521				3,017,678				3,035,521				3,017,678
Net Assets excluding interest bearing debt and goodwill and intangibles	$	3,066,953			$	3,173,325			$	3,066,953			$	3,173,325
Average Invested Capital (A)	$	3,041,315			$	3,149,640			$	3,093,472			$	3,116,959
Adjusted EBITDA	$	261,340			$	233,335			$	508,182			$	425,158
Depreciation		(75,858	)			(79,615	)			(146,250	)			(154,793	)
Adjusted EBITA (B)	$	185,482			$	153,720			$	361,932			$	270,364
Statutory Tax Rate (C)		26	%			25	%			26	%			25	%
Estimated Tax (B*C)	$	48,225			$	38,430			$	94,102			$	67,591
Adjusted earnings before interest and amortization (D)	$	137,257			$	115,290			$	267,829			$	202,773
ROIC (D/A), annualized		18.1	%			14.6	%			17.3	%			13.0	%
Operating income (E)	$	166,539			$	131,661			$	318,184			$	229,570
Total Assets (F)	$	5,723,689			$	5,978,808			$	5,723,689			$	5,978,808
Operating income / Total Assets (E/F), annualized		11.8	%			8.9	%			11.1	%			7.8	%

 

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การวิจัยพบว่า Obexelimab ให้ผลดีทางคลินิกอย่างรวดเร็ว ชัดเจน และต่อเนื่อง ซึ่งรวมถึงการหายจากโรคโดยสิ้นเชิงในผู้ป่วยส่วนใหญ่ที่มีอาการของโรค IgG4-RD

ผลการวิจัยสนับสนุนให้มีการพัฒนา Obexelimab อย่างต่อเนื่องสำหรับการรักษาโรค IgG4-RD และอาจเป็นไปได้ว่าจะช่วยรักษาภาวะภูมิคุ้มกันต้านตนเองที่เกี่ยวข้องกับบีเซลล์อื่น ๆ ด้วย

เมืองวอลแทม รัฐแมสซาชูเซตส์, Aug. 03, 2023 (GLOBE NEWSWIRE) —  Zenas BioPharma บริษัทชีวเวชภัณฑ์ระดับโลกซึ่งมุ่งมั่นสู่การเป็นผู้นำในการพัฒนาและการตลาดด้านภูมิคุ้มกันบำบัด ประกาศว่าวารสาร The Lancet Rheumatology ได้ตีพิมพ์ผลการวิจัยเพื่อประเมิน Obexelimab ระยะที่ 2 สำหรับการรักษาผู้ป่วยซึ่งเป็นโรคที่เกี่ยวข้องกับ IgG4 (IgG4-RD) จากผลการวิจัยนี้ ได้มีการดำเนินการวิจัยระยะที่ 3 ในผู้ป่วยที่เป็นโรค IgG4-RD เพื่อทำการวิจัยเพิ่มเติมถึงประสิทธิศักย์และความปลอดภัยของ Obexelimab ที่ใช้ฉีดเข้าใต้ผิวหนัง

IgG4-RD เป็นโรคเรื้อรังที่เกิดจากการอักเสบของเนื้อเยื่อพังผืดที่เกี่ยวข้องกับภูมิคุ้มกัน ซึ่งอาจส่งผลกระทบต่ออวัยวะหลายส่วน รวมถึงต่อมน้ำลายใหญ่ เบ้าตา ต่อมน้ำตา ตับอ่อน ท่อน้ำดี ปอด ไต และโพรงหลังเยื่อบุช่องท้อง ในสหรัฐเพียงประเทศเดียวมีผู้ป่วยประมาณ 20,000 รายที่ได้รับการวินิจฉัยว่าเป็นโรค IgG4-RD แม้โรคนี้จะเป็นที่รู้จักกันมากขึ้น แต่ก็ยังต้องมีการวิจัยเพิ่มเติม และมีทางเลือกในการรักษาที่มีประสิทธิภาพสำหรับผู้ที่เป็นโรคที่ทำให้ร่างกายอ่อนแอนี้

การใช้กลูโคคอร์ติคอยด์ได้รับการพิจารณาอย่างกว้างขวางว่าเป็นมาตรฐานในการดูแลรักษา IgG4-RD ทั่วโลก แต่ยังไม่มีตัวเลือกใดที่ได้รับอนุมัติสำหรับการรักษาโรคนี้ กลูโคคอร์ติคอยด์และการรักษาเพื่อทำลายเซลล์บีที่มีอยู่ซึ่งเป็นวิธีที่ใช้รักษาโดยทั่วไปนั้น แทบจะไม่ช่วยให้มีการทุเลาของโรคโดยไม่ต้องเข้ารับการรักษาในระยะยาว และยังอาจมีความเสี่ยงสูงที่จะก่อให้เกิดสารพิษในผู้ป่วยเหล่านี้ การรักษาดังกล่าวยังลดการตอบสนองต่อวัคซีน ซึ่งรวมถึงวัคซีน SARS-CoV-2 และวัคซีนไข้หวัดใหญ่

ในการวิจัยนำร่องแบบเปิด โดยใช้การรักษาทางเดียวในศูนย์วิจัยแห่งเดียว เพื่อประเมินประสิทธิศักย์และความปลอดภัยของ Obexelimab ในการรักษาผู้ป่วยที่เป็นโรค IgG4-RD (การลงทะเบียน clinicaltrials.gov รหัส NCT02725476) Obexelimab ได้แสดงให้เห็นถึงผลที่ดีขึ้นอย่างชัดเจนในดัชนีการตอบสนองต่อโรค IgG4-RD ซึ่งเป็นการวัดความรุนแรงของโรค ด้วยการยับยั้งการทำงานของบีเซลล์ โดยไม่ต้องทำลายบีเซลล์

บทความตีพิมพ์เรื่อง “Obexelimab for the Treatment of Patients with IgG4-Related Disease: An Open-Label, Single-Arm, Pilot Study to Evaluate Efficacy, Safety, and Mechanism of Action” นำเสนอทางออนไลน์และจะตีพิมพ์ในวารสาร The Lancet Rheumatology 2023 ฉบับเดือนสิงหาคม 5(8) [E428-E429]

มีการสรุปผลการวิจัยที่สำคัญในเอกสารดังต่อไปนี้

• Obexelimab ให้ผลดีทางคลินิกอย่างรวดเร็ว ชัดเจน และต่อเนื่อง ซึ่งรวมถึงการหายขาดจากโรคโดยสิ้นเชิง(คะแนนดัชนีการตอบสนองของโรค IgG4-RD เท่ากับ 0) ในผู้ป่วยส่วนใหญ่ที่เป็นโรค IgG4-RD
• ในระหว่างการรักษาด้วย Obexelimab ได้สังเกตว่ามีการลดลงของบีเซลล์ที่หมุนเวียน ซึ่งรวมถึงพลาสมาบลาสต์โดยไม่มีหลักฐานการตายของเซลล์
• นอกจากนี้ การลดลงของบีเซลล์ที่หมุนเวียนและการกลับสู่ระดับใกล้ภาวะปกติอย่างรวดเร็วหลังจากหยุดการรักษา ได้บ่งชี้ว่า Obexelimab อาจนำไปสู่การแยกบีเซลล์ในอวัยวะน้ำเหลืองหรือไขกระดูก
• Obexelimab ไม่ก่อให้เกิดผลข้างเคียงที่รุนแรงต่อผู้ป่วย เหตุการณ์ไม่พึงประสงค์ที่เกี่ยวข้องกับการรักษาส่วนใหญ่อยู่ในระดับ 1 หรือ 2 โดยเหตุการณ์ไม่พึงประสงค์ที่พบบ่อยที่สุดคือ เหตุการณ์ที่เกี่ยวข้องกับการให้สารในระบบทางเดินอาหาร ซึ่งส่วนใหญ่จะไม่รุนแรง

นายแพทย์ John Stone ปริญญาโทด้านสาธารณสุข อาจารย์คณะแพทยศาสตร์ที่ Harvard Medical School และประธาน Edward A. Fox คณะแพทยศาสตร์ที่ Mass General Hospital กล่าวว่า “ผลสรุปในการวิจัยของเราเป็นก้าวสำคัญเพื่อมุ่งสู่การทำความเข้าใจกลไกพื้นฐานของโรคที่เกี่ยวข้องกับ IgG4 ซึ่งจะปูทางไปสู่กลยุทธ์การรักษาที่ตรงเป้าหมายมากขึ้น” “ทีมงานของเรารู้สึกเป็นเกียรติที่งานวิจัยของเราได้รับการยอมรับจากวารสาร The Lancet Rheumatology และขอขอบคุณผู้ป่วยที่เข้าร่วมในการวิจัยที่ทำให้เกิดการค้นพบใหม่นี้เป็นอย่างยิ่ง”

เกี่ยวกับ Obexelimab

Obexelimab เป็นโมโนโคลนอลแอนติบอดีที่ผลิตจากสัตว์ทดลอง ไม่ทำลายเซลล์ มีสองปลาย อยู่ในระยะที่ 3 ของการวิจัยซึ่งเลียนแบบการทำงานของสารประกอบเชิงซ้อนแอนติเจน-แอนติบอดี โดยสร้างพันธะกับCD19 และ FcγRIIb เพื่อยับยั้งการทำงานของสายพันธุ์บีเซลล์ อาสาสมัคร 198 คนได้รับการรักษาด้วย Obexelimab ในระหว่างการวิจัยทางคลินิกระยะเริ่มแรกหลายครั้งสำหรับโรคภูมิต้านตนเองหลายชนิด ในการวิจัยทางคลินิกเหล่านี้ Obexelimab ได้แสดงให้เห็นถึงการยับยั้งการทำงานของบีเซลล์ได้อย่างมีประสิทธิภาพโดยไม่ทำลายเซลล์ และให้ผลการรักษาที่สร้างกำลังใจให้แก่ผู้ป่วยโรคภูมิต้านตนเองหลายชนิด Zenas ได้รับสิทธิ์ใน obexelimab จาก Xencor, Inc. แต่เพียงผู้เดียว

ดูข้อมูลเพิ่มเติมเกี่ยวกับการวิจัยระยะที่ 3 (INDIGO) สำหรับการรักษาโรคที่เกี่ยวข้องกับ IgG4 ได้ที่ clinictrials.gov: NCT05662241

ข้อมูลเกี่ยวกับ Zenas BioPharma

Zenas BioPharma เป็นบริษัทชีวเภสัชภัณฑ์ระดับโลกที่มุ่งมั่นสู่การเป็นผู้นำในด้านการพัฒนาและการตลาดเกี่ยวกับภูมิคุ้มกันบำบัดให้แก่ผู้ป่วยทั่วโลก ด้วยการพัฒนาและการปฏิบัติการทางคลินิกทั่วโลก Zenas กำลังสร้างผลงานด้านการบำบัดรักษาเกี่ยวกับโรคภูมิคุ้มกันต้านตนเองในระดับโลกที่มีความสมดุลและลึกซึ้งที่เป็นไปได้ว่านจะเป็นการรักษาที่ไม่เคยมีมาก่อนและที่ดีที่สุดในด้านที่มีความจำเป็นทางการแพทย์ซึ่งยังไม่ได้รับการตอบสนองสูง ควบคู่ไปกับการปฏิบัติตามข้อกำหนดด้านคุณค่าของสภาพแวดล้อมในการดูแลสุขภาพระดับโลกแบบพลวัต ระบบวางแผนการขายของบริษัทเติบโตอย่างต่อเนื่องผ่านกลยุทธ์การพัฒนาธุรกิจที่ประสบความสำเร็จของเรา ทีมผู้นำที่มีประสบการณ์และเครือข่ายพันธมิตรทางธุรกิจของเราขับเคลื่อนความเป็นเลิศในการดำเนินงาน เพื่อส่งมอบการรักษาที่ก่อให้เกิดการเปลี่ยนแปลงที่เป็นไปได้ เพื่อปรับปรุงชีวิตของผู้ที่เผชิญกับโรคภูมิต้านทานตนเองและโรคที่พบได้ยากต่าง ๆ ให้ดีขึ้น สำหรับข้อมูลเพิ่มเติมเกี่ยวกับ Zenas BioPharma โปรดไปที่ www.zenasbio.com และติดตามพวกเราใน Twitter ที่ @ZenasBioPharma และ LinkedIn

ช่องทางติดต่อสำหรับนักลงทุนและสื่อ:
Joe Farmer ประธานบริษัทและประธานเจ้าหน้าที่ฝ่ายปฏิบัติการ
Zenas BioPharma
IR@zenasbio.com

GlobeNewswire Distribution ID 8886118

ORLANDO, Fla., Aug. 02, 2023 (GLOBE NEWSWIRE) — Certiport, a Pearson VUE business, today announces that the winners of the 2023 Microsoft Office Specialist and Adobe Certified Professional National Championships.

2023 Microsoft Office Specialist (MOS) World Championship

The winners of the 2023 Microsoft Office Specialist (MOS) World Championship have been announced by Certiport, the leading provider of performance-based IT certification exams that accelerate academic and career opportunities for learners.

The annual competition challenges students from ages 13 through 22 to prove their skills in Microsoft Word, Excel®, and PowerPoint®. Now in its 21^st year, this year’s competition – the only one endorsed by Microsoft since its inception in 2002 – attracted more than 1.3 million entries from around the world.

To enter, students took a qualifying Microsoft Office Specialist certification exam to demonstrate their mastery of Microsoft Office technology. Regional competitions were held worldwide, and 133 finalists qualified to compete in the final round of competition held in Orlando, Florida from July 31 – August 2, 2023.

The 2023 MOS World Champions are:

Microsoft Word (Microsoft 365 Apps and Office 2019)

• First place: Chan Wai Wong, Macau, China
• Second place: Cheng-Yan Wu, Taiwan
• Third place: Thuy Linh Hoang, Vietnam

Microsoft PowerPoint® (Microsoft 365 Apps and Office 2019)

• First place: Lucie DorňákováCert, Czech Republic
• Second place: Ana Guo, Macau, China
• Third place: Ching-Chi Tsao, Taiwan

Microsoft Excel® (Microsoft 365 Apps and Office 2019)

• First place: Yuxiang Lin, Macau, China
• Second place: Jamie Kildea, Ireland
• Third place: Songglod Petchamras, Thailand

Microsoft Word (Office 2016)

• First place: Bing-Hong Chen, Taiwan
• Second place: Chi Kuan Tan, Macau, China
• Third place: Thi Minh Anh Dang, Vietnam

Microsoft PowerPoint® (Office 2016)

• First place: Man-Him Law, Hong Kong, China
• Second place: Noppanat Chalouy, Thailand
• Third place: Celia Cole, USA

Microsoft Excel® (Office 2016)

• First place: Sora Takaya, Japan
• Second place: Thi Thanh Truc Nguyen, Vietnam
• Third place: O-Man Wong, Hong Kong, China

In the concluding round, competitors participated in a 100-minute exam that tested their knowledge, application skills, and creative talents. For the second consecutive year, finalists were required to complete a free-form project. This year’s challenge asked competitors to create an informational document for a non-profit client.

At the final event in Florida, Certiport and Microsoft recognized the top student competitors in the MOS World Championship Awards Ceremony and presented each First-place winner with an $8,000 cash prize. The Second-place and Third-place honorees received $4,000 and $2,000, respectively.

“This year marks 21 years since the Microsoft Office Specialist competition began in 2002. We are exceptionally proud of what we have managed to achieve, through our partners around the world, in providing young people with a platform such as this to learn, compete, and gain valuable skills that will help them in their future careers,” said Craig Bushman, General Manager, Certiport.

Microsoft Office Specialist is the only official Microsoft-recognized certification for Microsoft Office globally and serves as a powerful instrument for assessing learners’ skills and preparing them for real-world application of their knowledge.

“For over two decades, the Microsoft Office Specialist World Championship has recognized the top students using Microsoft Office from across the globe. These students are passionate and dedicated learners who have the skills and competitive drive to succeed. At Microsoft, we know this experience will prepare students to demonstrate their valued digital skills in a real-world work environment,” said Christian Wylde, Principal Group Manager, Microsoft Worldwide Learning.

2023 Adobe Certified Professional World Championship

Certiport has named the USA as the 2023 Adobe Certified Professional World Champion. Second place goes to Bulgaria and Third place to Brazil in a digital design competition that attracted nearly 54,000 competitors.

The winners of the 2023 Certiport’s Adobe Certified Professional World Championship have been announced by Certiport, the leading provider of performance-based IT certification exams that accelerate academic and career opportunities for learners.

The annual competition challenges contestants from around the world to prove their superior digital design skills using Adobe Photoshop, Illustrator, and InDesign. Now in its 10^th year, this year’s competition attracted more than 53,000 participants. Kayla Crossen-Zawila from the USA won the top prize out of 44 finalists who came together from July 31 – August 2, 2023, for the final round.

The 2023 Adobe Certified Professional World Champions are as follows:

• First place, Kayla Crossen-Zawila, USA
• Second place, Boris Savov, Bulgaria
• Third place, Egberto Oliveira, Brazil
• Fourth place, Mariam Baghaturia, Georgia
• Fifth place, Marco Antonio Arguello Jarrin, Ecuador
• Sixth place, Andrew Jarnac, USA
• Seventh place, Muhammad Abal Hakim Bin Abal Mukam, Malaysia
• Eighth place, Minh Tra Bui, Vietnam
• Ninth place, Alexia Borcoman, United Kingdom
• Tenth place, Sio Kuan Lei, Macau, China

Finalists demonstrated their proficiency using industry-leading Adobe Creative Cloud software to design a poster for a real-world client, the International Rescue Committee (IRC), in less than eight hours.

“At the IRC, we were thrilled to partner with Certiport and Adobe for Certiport’s 2023 Adobe Certified Professional World Championship. This event has given us an opportunity to engage young people in our mission to help people affected by humanitarian crises to survive, recover and rebuild their lives. We were really impressed by the professional level work these students accomplished in just eight hours and can’t wait to use them as inspiration for future campaigns,” said Vera Leung, Senior Director of Content & Creative, International Rescue Committee.

A panel of judges including representatives from IRC and design industry experts reviewed the final projects and determined the winners based on visual appeal, their ability to meet the client’s requirements and brand aesthetics, as well as their professional use of Adobe Creative Cloud applications. The First-place winner received an $8,000 cash prize. The Second-place and Third-place honorees received $4,000 and $2,000, respectively.

“Together with our partner, Adobe, we are exceptionally proud of the opportunities we have managed to provide to all the contestants and winners over the last decade. Through this unique platform we have and will continue to provide young people with a chance to learn, compete, and gain valuable skills that will help them in their future careers,” said Craig Bushman, General Manager, Certiport. “Seeing what these finalists are able to create in just eight hours, it’s apparent that they have a deep understanding of digital design concepts and will be able to leverage their Adobe skills in a real-world work scenario.”

“At Adobe, we know the future belongs to those who create. Certiport’s Adobe Certified Professional World Championship is a wonderful opportunity for students from around the world to come together to create using Adobe Creative Cloud,” said Liana Maharaj-Parrish, Head of Student Learning and Certification, Adobe. “These students have technical mastery and wonderful artistic instincts, and it shows in their final designs. They can follow client instructions and use both their innate design abilities and the Adobe skills they’ve learned to create something amazing and industry-ready. We can’t wait to see where our competitors take their skills next.”

Next year, Certiport will host the 2024 Microsoft Office Specialist World Championship and the Adobe Certified Professional World Championship in Anaheim, California, from July 28 through 31.

Learn more about the MOS World Championship here.
Learn more about the Adobe Certified Professional World Championship here.

See what our competitors and other news outlets are saying by searching the event hashtag #MOSWC on social media.

Media Contact:
Greg Forbes
Global PR & Communications Manager
+44 (0) 7824 313448
greg.forbes@pearson.com

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/22fa4b5f-d495-409c-92b0-3533f08413f0

The photo is also available at Newscom, www.newscom.com, and via AP PhotoExpress.

GlobeNewswire Distribution ID 8886007

The following is an extract from the “Iveco Group 2023 Second Quarter and First Half Results” press release. The complete press release can be accessed by visiting the media section of the Iveco Group corporate website: https://www.ivecogroup.com/media/corporate_press_releases or consulting the accompanying PDF:

Iveco Group consolidated revenues of €4.2 billion (up 24% year-on-year).

Adjusted EBIT of €301 million (up €183 million) and adjusted net income of €156 million.

Net cash of Industrial Activities at €1.2 billion.

Full year 2023 Financial Guidance updated upwards again.

Consolidated revenues of €4,180 million, up 24.0%. Net revenues of Industrial Activities of €4,108 million, up 23.4%, mainly due to positive price realisation and higher volumes and mix.

Adjusted EBIT of €301 million (€183 million increase compared to Q2 2022), with a 7.2% margin (up 370 bps compared to Q2 2022). Adjusted EBIT of Industrial Activities of €266 million (€91 million in Q2 2022) and margin at 6.5% (up 380 bps compared to Q2 2022), with a steadily improving re-positioning of our vehicles supporting a strong price realization more than offsetting higher raw material and energy costs.

Adjusted net income of €156 million (€96 million increase compared to Q2 2022). Adjusted diluted earnings per share of €0.57 (up €0.37 compared to Q2 2022).

Financial expenses of €83 million (€28 million in Q2 2022), increasing mainly as a consequence of higher interest rates and the impact of hyperinflation accounting in Argentina and Türkiye.

Reported income tax expense of €61 million, with adjusted effective tax rate (adjusted ETR) of 28% reflecting different tax rates applied in the jurisdictions where the Group operates and some other discrete items.

Net cash of Industrial Activities at €1,166 million (€1,727 million at 31^st December 2022). Free cash flow of Industrial Activities positive for €131 million, €242 million higher compared to Q2 2022 primarily due to higher sales, positive price realisation and lower level of unfinished products (due to increased components availability in the latter part of June), partially offset by the acquisition of the full ownership of the former Nikola Iveco Europe JV.

Available liquidity at €3,764 million as of 30^th June 2023, down €216 million from 31^st March 2023, including €2,006 million of undrawn committed facilities.

Attachment

• 20230802_PR_IVG_Q2_2023

GlobeNewswire Distribution ID 1000832766

NEW YORK, Aug. 01, 2023 (GLOBE NEWSWIRE) — TMC the metals company Inc. (Nasdaq: TMC) (“TMC” or “the Company”), an explorer of lower-impact battery metals from seafloor polymetallic nodules, today provided a corporate update on expected development timeline, production capacity and application costs for its NORI-D Nodule Project following the recent International Seabed Authority (ISA) Council decisions on a roadmap to deliver final rules, regulations and procedures, also known as the Mining Code.

Update Highlights:

• TMC subsidiary Nauru Ocean Resources Inc. (NORI) intends to submit an application to the ISA for an exploitation contract for NORI Area D following the July 2024 meeting of the ISA. Assuming a one-year review process, NORI expects to be in production in the fourth quarter of 2025.
• NORI and strategic partner Allseas plan for an increased production capacity for the Project Zero Offshore System, using the Hidden Gem vessel, from an estimated 1.3 million wet tonnes to an estimated 3.0 million wet tonnes per annum, an increase of 130%, including an additional 15-meter-wide collector vehicle, a wider diameter riser pipe, larger compressor spread, and improvements to the system designed to further mitigate its environmental impacts.
• The Company estimates that it will require $60 to 70 million of additional cash to submit an application for an exploitation contract following the July 2024 meeting of the ISA.
• TMC had $20M cash on hand and an undrawn $25M unsecured credit facility as of June 30^th 2023. Allseas has agreed to extend the maturity date of the $25 million unsecured credit facility provided to the Company through November 30, 2024 on the same terms. In addition, on August 1, 2023, the Company and Allseas entered into an Exclusive Vessel Use Agreement which will give the Company exclusive use of the Hidden Gem in support of the development of the Project Zero Offshore System with 4.15 million common shares to be issued to Allseas as consideration.

Gerard Barron, TMC Chairman and CEO, commented: “While we were pleased to see the high level of motivation and collaboration among the ISA Members who made significant progress in Kingston last month, it is clear the Parties need more time to fulfill their legal obligation of delivering the Mining Code. After carefully listening during the last three weeks of ISA meetings, NORI now intends to submit an application following the July 2024 ISA session, which gives us more time to strengthen our environmental dataset while providing time for three more Council sessions and intersessional work. NORI will monitor closely the progress that the Council makes over the next three meetings. As a lean and capital-light enterprise with supportive strategic partners like Allseas, who is taking advantage of the additional time to improve the system’s annual production capacity and reduce its environmental impacts further, TMC and NORI are prepared to work within the ISA’s new roadmap. We are pleased to see the ISA’s reiteration of their obligation to consider a plan of work when we are ready to lodge it in consultation with our sponsoring state. Meanwhile, our teams continue work on the scientific evidence to support NORI’s application and we will include a campaign to revisit the site of last year’s pilot collection trials in the Clarion Clipperton Zone to further bolster our environmental knowledge. We will continue to share this data openly, with the entire world.”

Increased Production Capacity for Project Zero

Following the successful integrated system trials in 2022 where over 3,000 tonnes of nodules were lifted from seafloor to surface, TMC subsidiary NORI and its offshore partner and shareholder Allseas are now planning to increase the production capacity of the Project Zero Offshore System from an estimated 1.3 million wet tonnes per annum to an estimated 3.0 million wet tonnes per annum, a potential increase of 130%. Alongside upgrades to the pilot collector vehicle tested last year, the system is expected to include an additional 15-meter-wide collector vehicle, a wider diameter riser pipe, a larger compressor spread and improvements to the system to further mitigate its environmental impacts.

Capacity is expected to be increased in a phased approach based on ongoing environmental monitoring conducted in accordance with the Environmental Management and Monitoring Program (EMMP) and Adaptive Management System (AMS) to ensure ramp-up occurs within environmental thresholds in a plan designed to minimize up-front capital expenditure requirements and manage operational risk.

Allseas has agreed to extend the maturity date of the $25 million unsecured credit facility provided to the Company through November 30, 2024 on the same terms as the existing credit facility. In addition, on August 1, 2023 the Company and Allseas entered into an Exclusive Vessel Use Agreement pursuant to which Allseas will give exclusive use of the Hidden Gem to the Company in support of the development of the Project Zero Offshore System with 4.15 million common shares issued to Allseas as consideration.

Finalizing NORI-D Application

After listening carefully during the recent ISA meetings, NORI intends to submit an application to the ISA for an exploitation contract for its NORI Area D following the July 2024 session, by which time the ISA would have concluded three additional ISA Council sessions while continuing with intersessional working groups.

Following feedback received from the ISA’s Legal and Technical Commission (LTC), NORI will further add to its growing body of environmental data by conducting a new post-collection test campaign this year, a campaign which was originally slated to be part of NORI’s Environmental Management & Monitoring Plan (EMMP) post application, which the Company believes will strengthen the quality of NORI’s Environmental Impact Statement (EIS) and EMMP by providing additional information on the environmental regeneration of the collection test area. Based on observations during the 2022 post-collection test monitoring campaign as well as information shared by other contractors, NORI expects that the results of this additional campaign will further enhance the quality of its application.

Consistent with NORI’s rights under the United Nations Convention on the Law of the Sea (UNCLOS), and the 1994 Agreement relating to the Implementation of Part XI of UNCLOS (the Agreement), NORI reserves its right to submit an application for a plan of work for exploitation, which will be included as part of the application for an exploitation contract, prior to the ISA’s provisional adoption and approval of the Mining Code, the possibility of which was recognized in the ISA Council decisions ISBA/28/C/24 and ISBA/28/C/25, and to have that application considered and provisionally approved pursuant to Section 1, Paragraph 15 of the Annex to the Agreement.

Assuming a one-year review process for an application, NORI expects to be in production in the fourth quarter of 2025.

Financial Position

The Company estimates that it will require $60 to 70 million of cash in addition to the $20 million cash on hand as of June 30, 2023 (but not including potential drawdown on the existing Allseas credit facility) to submit an application for an exploitation contract for NORI Area D following the July 2024 meeting of the ISA. This estimate includes, among other things, the expected costs of:

• The environmental and social impact assessment (ESIA), including a post-collection test monitoring campaign
• Pre-feasibility studies
• Non-recurring engineering and project management on the Project Zero Offshore System
• Layup costs for the Hidden Gem
• Regulatory and legal costs
• Payroll and other general corporate matters
• This estimate is exclusive of costs expected to be spent subsequent to submission of the application for an exploitation contract on more detailed feasibility estimates and to progress Project Zero Offshore System development.
• The Company expects to refine its expected cash needs to prepare for potential commercialization following the time NORI submits its application to the ISA for an exploitation contract after it finalizes its planned definitive agreement with Allseas.

Current liquidity and capital resources as of June 30, 2023:

• Cash balance of $20 million,
• $25 million unsecured credit facility with an affiliate of Allseas, which remains undrawn today,
• $30 million at-the-market equity program (ATM), which remains unused today, and
• $100 million effective universal “shelf” registration statement pursuant to which the Company may issue securities, including the $30 million common shares issuable under the ATM.

About The Metals Company
The Metals Company is an explorer of lower-impact battery metals from seafloor polymetallic nodules, on a dual mission: (1) supply metals for the clean energy transition with the least possible negative environmental and social impact and (2) accelerate the transition to a circular metal economy. The Company through its subsidiaries holds exploration and commercial rights to three polymetallic nodule contract areas in the Clarion Clipperton Zone of the Pacific Ocean regulated by the International Seabed Authority and sponsored by the governments of Nauru, Kiribati and the Kingdom of Tonga.

More Info 
Media | media@metals.co
Investors | investors@metals.co

Forward-Looking Statements
This press release contains “forward-looking” statements and information within the meaning of the Private Securities Litigation Reform Act of 1995. These statements may be identified by words such as “aims,” “anticipates,” “believes,” “could,” “estimates,” “expects,” “forecasts,” “goal,” “intends,” “may,” “plans,” “possible,” “potential,” “seeks,” “will” and variations of these words or similar expressions, although not all forward-looking statements contain these words. Forward-looking statements in this press release include, but are not limited to, statements concerning: the Company’s financial closing procedures; the Company’s financing plans; the Company’s expectations for the development of the Project Zero Offshore System, including the design, upgrades, cost, production capacity and timeline for completion; the expected terms and timing of a definitive agreement with Allseas; the timing of when the Company expects to submit an application to the ISA for an exploitation contract which will include a plan of work for exploitation; the estimated additional cash needed to be to submit an application to the ISA for an exploitation contract; the adoption of the final Mining Code by the ISA and the timing thereof; the Company’s plans to submit to the ISA an application for an exploitation contract and the plan of work for exploitation included therein; and the anticipated timing of the Company’s first commercial production of nodules from NORI Area D. The Company may not actually achieve the plans, intentions or expectations disclosed in these forward-looking statements, and you should not place undue reliance on these forward-looking statements. Actual results or events could differ materially from the plans, intentions and expectations disclosed in these forward-looking statements as a result of various factors, including, among other things: the Company’s strategies and future financial performance; the ISA’s ability to timely adopt the Mining Code and/or willingness to review and/or approve a plan of work for exploitation under UNCLOS; the Company’s ability to obtain exploitation contracts or approved plans of work for exploitation for its areas in the Clarion Clipperton Zone; regulatory uncertainties and the impact of government regulation and political instability on the Company’s resource activities; changes to any of the laws, rules, regulations or policies to which the Company is subject, including the terms of the final Mining Code, if any, adopted by ISA and the potential timing thereof; the impact of extensive and costly environmental requirements on the Company’s operations; environmental liabilities; the impact of polymetallic nodule collection on biodiversity in the Clarion Clipperton Zone and recovery rates of impacted ecosystems; the Company’s ability to develop minerals in sufficient grade or quantities to justify commercial operations; the lack of development of seafloor polymetallic nodule deposit; the Company’s ability to successfully enter into binding agreements with Allseas and other parties in which it is in discussions, if any,; uncertainty in the estimates for mineral resource calculations from certain contract areas and for the grade and quality of polymetallic nodule deposits; risks associated with natural hazards; uncertainty with respect to the specialized treatment and processing of polymetallic nodules that the Company may recover; risks associated with collective, development and processing operations, including with respect to the development of onshore processing capabilities and capacity and Allseas’ expected development efforts with respect to the Project Zero Offshore System; the Company’s dependence on Allseas; fluctuations in transportation costs; fluctuations in metals prices; testing and manufacturing of equipment; risks associated with the Company’s limited operating history, limited cash resources and need for additional financing;; risks associated with the Company’s intellectual property; Low Carbon Royalties’ limited operating history and other risks and uncertainties, any of which could cause the Company’s actual results to differ from those contained in the forward-looking statements, that are described in greater detail in the section entitled “Risk Factors” in the Company’s Annual Report on Form 10-K filed with the Securities and Exchange Commission (“SEC”) on March 27, 2023, as well as in other filings the Company may make with the SEC in the future. Any forward-looking statements contained in this press release speak only as of the date hereof, and the Company expressly disclaims any obligation to update any forward-looking statements contained herein, whether because of any new information, future events, changed circumstances or otherwise, except as otherwise required by law.

GlobeNewswire Distribution ID 8885223

MILAN, Italy, Aug. 01, 2023 (GLOBE NEWSWIRE) — Eni and Edison have reached an agreement that marks the collaboration between the two companies for the management of environmental remediation projects at all the industrial sites that were transferred by Montedison to Enichem in 1989. A joint statement clarifies that the agreement will regulate the equal financial contribution for the remediation interventions, which have already been underway by Eni’s subsidiaries, Eni Rewind and Versalis, in execution of the projects mandated by the Italian Ministry of Environment. This partnership inaugurates a new era of cooperation between Eni and Edison, leveraging the experiences and technologies acquired by Eni Rewind and Edison Next Environment.

Innovative solution leverages automated A/B testing technology to optimize airlines’ ancillaries aiming at total net revenue maximization

SANTIAGO, Chile, Aug. 01, 2023 (GLOBE NEWSWIRE) — Airnguru, a cloud-native provider helping airlines optimize their pricing strategies, has announced the launch of a dynamic pricing engine for bundle discounts that enables airlines to increase revenue from potential passengers, with SKY Airline as its first adopter. This tool, deployed in partnership with Piano Software – a leading digital experience platform that supports commerce conversion, analytics and personalization outcomes – harnesses the power of automated A/B testing technology to test various bundle discounts.

This integration will enable airlines to calibrate demand models, and use this information to maximize the net expected revenue from potential passengers browsing the airline’s webpage. SKY Airline, a low-cost regional carrier headquartered in Chile, is leveraging this solution to drive ancillary revenue at the point of sale. “For SKY Airline, the sales of ancillaries represent a fundamental pillar in its business strategy, which is why the association with Airnguru and Piano – who have built a critical capability for airlines – seeks to increase the penetration of ancillary services substantially, do it in a profitable way, and ensure that the preferences of our clients are met.”

While revenues from ancillary services surpassed 150 billion dollars in 2022 globally, and are expected to grow at a 18.9% CAGR through 2027, according to estimates by MarketWatch, Airnguru observed that tech support for airlines in this rapidly growing area was still immature. Airnguru and Piano’s new solution delivers an ongoing process of automated price experimentation and optimization, that continuously updates price sensitivity and adjusts bundle discounts accordingly. Javier Jiménez, COO & cofounder of Airnguru, recently presented the conceptual and mathematical frameworks of this new solution at the AGIFORS meeting in Helsinki on June 7th. “Ensuring customer needs are satisfied and the overall net expected revenue is maximized along the customer journey is our ultimate goal for airlines,” said Sergio Mendoza, CEO & co-founder of Airnguru, “By offering this new capability with Piano, and deploying it with the innovative team at SKY Airline, we expect to substantially contribute to the profitable growth of the airline’s ancillary and overall revenues.”

Piano’s platform empowers global brands to build their audiences, automate their business and create actionable insight that helps them drive revenue as well as segment and personalize and target content across audiences. For airlines, this means helping them boost ancillary revenue through intelligent micro-segmentation and relevant personalization – with a simple site-level or SDK integration.

“Piano saw an opportunity to help airlines combine multiple data points they are likely not leveraging today, each of which can be used to personalize offers and create an impact on conversion and basket size,” says Trevor Kaufman, CEO of Piano Software. “By integrating with powerful capabilities such as Airnguru’s pricing intelligence, we are thrilled to help SKY Airline and other carriers realize the value of personalization to drive incremental revenue.”

About Airnguru
Airnguru is a cloud-native vendor of commercial systems that is helping airlines orchestrate and optimize their pricing strategies. Airnguru launched the first comprehensive, big-data enabled pricing intelligence solution in the market in 2017 and since then it has rapidly positioned its pricing technology as best-in-class, offering a broad suite of solutions across pricing intelligence, price execution, price automation, price optimization, and price data feeds. Airnguru has already added eight international carriers to its customer list, including three airlines in Europe (British Airways, LOT, and Finnair), three in LATAM (Avianca, Copa Airlines, and SKY Airline), and other two recently added in the Middle East. Airnguru customers are benefiting from user-friendly, scalable solutions, agile innovation and cutting edge technology, to optimize their pricing strategies, boost their productivity, minimize their time-to-market, eliminate pricing errors, and increase their total revenue. You may find more information about Airnguru at www.airnguru.com.

About Piano Software
Piano’s Digital Experience Platform empowers organizations to understand and influence customer behavior. By unifying customer data, analyzing behavior metrics and creating personalized customer journeys, Piano helps brands launch campaigns and products faster, strengthen customer engagement and drive personalization at scale from a single platform. Headquartered in Amsterdam with offices across the Americas, Europe and Asia Pacific, Piano serves a global client base, including Air France, the BBC, CBS, IBM, Kirin Holdings, Jaguar Land Rover, Nielsen, The Wall Street Journal and more. Piano has been recognized as one of the fastest-growing, most innovative technology companies in the world by World Economic Forum, Inc., Deloitte, American City Business Journals and more. For more information, visit piano.io.

About SKY Airline
SKY Airline is a Chilean low-cost airline. With more than 20 years in the market, it is present in eight countries in the Americas and has transported more than 50 million passengers. Currently, it is the only airline in the sector worldwide with a fleet 100% composed of Airbus A320 and A321 NEO, lighter, faster and more environmentally friendly models.

Sergio Mendoza
Airnguru
+569-99695552
sergio@airnguru.com

GlobeNewswire Distribution ID 8884836