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Grab Announces Target to Achieve Zero Packaging Waste in Nature By 2040

• New waste goal announced in conjunction with the release of Grab’s 2022 ESG report; adds to Grab’s existing environmental target to reach carbon neutrality¹ by 2040

SINGAPORE–(BUSINESS WIRE)–
Grab Holdings Limited (NASDAQ: GRAB) today announced a new target as part of its Environment, Social and Governance (ESG) commitments. Aimed at tackling Southeast Asia’s packaging waste problem, Grab is committing to achieve zero packaging waste in nature by 2040.

“We recognise that food packaging waste is an inherent by-product of our food delivery platform. Change has to happen throughout the value chain, and we are committed to proactively seeking and developing sustainable, inclusive answers. This means both being introspective, while working with other parties in the ecosystem such as regulators, packaging manufacturers, waste management firms, merchant-partners, and consumers,” said Cheryl Goh, Group Head of Marketing and Sustainability, Grab.

Grab has mapped out a two-phase approach to reach its waste target. In Phase 1, Grab will focus on reducing overpackaging and replacing single use-plastics with compostables. The company will also work on developing reverse logistics mechanisms to increase the adoption of reusable and recyclable packaging. This builds on efforts that have begun since 2019 to encourage consumers to opt out from receiving single-use cutlery for their food delivery orders. To date, Grab has saved more than 23,800 tonnes of waste², with 898 million sets of cutlery weighing 8,088 tonnes saved from 2022 alone. Phase 1 will run until 2030, with the aim of having 30% of plastic packaging diverted by then.

Phase 2 will focus on developing long-term scalable solutions to contribute towards a circular economy by performing proper waste collection and supporting the use of reusable packaging, enabling Grab to achieve its target of zero packaging waste in nature by 2040.

Grab’s latest ESG report also tracked the company’s impact in 2022 across key priority areas:

• Grab continues to create opportunities for everyday entrepreneurs to build sustainable livelihoods. 30% of Grab driver-partners surveyed say they were not earning an income before joining Grab³. Today, 72% of Grab’s driver-partners earn from more than one service on the Grab platform. Grab has also continued its efforts to bring small businesses online, onboarding 658,000 small merchant-partners in 2022. Small businesses on the Grab platform saw a 26 per cent increase in their monthly earnings on average, after one year of being on the Grab platform. Beyond earnings, Grab provides upskilling opportunities, with 1 million partners having taken at least one upskilling course offered via Grab in 2022. In total, Grab partners earned US$10.6 billion through the platform in 2022, a 19 per cent increase from the year before.
• Grab maintains a safe and trusted platform as a top priority. In 2022, 99.99% of Grab rides occurred without incident; 5.5x safer rides regionally when benchmarked against Singapore Land Transport Authority’s QoS standards⁴. New safety features rolled out in 2022 include AudioProtect and QuietRide.
• Grab is accelerating efforts towards carbon neutrality, reducing 48,000 tonnes of emissions in 2022 through zero or low-emission modes of transport as well as through optimisations such as batched deliveries and shared rides. About 50% of Grab deliveries in Singapore are made on zero-emission modes of transportation. Grab has ~13,000 low emission vehicles as part of its rental fleet regionally, including a 100% two-wheel EV fleet in Indonesia, where Grab is the largest EV ride-hailing fleet operator.

To find out more about Grab’s latest ESG report, visit the link here. The full report can be downloaded here.

About Grab

Grab is a leading superapp in Southeast Asia, operating across the deliveries, mobility and digital financial services sectors. Serving over 500 cities in eight Southeast Asian countries – Cambodia, Indonesia, Malaysia, Myanmar, the Philippines, Singapore, Thailand and Vietnam – Grab enables millions of people everyday to order food or groceries, send packages, hail a ride or taxi, pay for online purchases or access services such as lending and insurance, all through a single app. Grab was founded in 2012 with the mission to drive Southeast Asia forward by creating economic empowerment for everyone, and strives to serve a triple bottom line: to simultaneously deliver financial performance for its shareholders and have a positive social and environmental impact in Southeast Asia.

¹Grab’s decarbonisation target for Scope 1, 2 and 3. Applicable where we provide ride-hailing, delivery and financial services through our existing subsidiaries under our operational and management control. Grab’s roadmap and targets are set in consideration of future business growth.

²Based on 9g per set of cutlery for 2.6 billion sets (2019-2022)

³Based on an online survey of 7,037 respondents, conducted by Ipsos from 16 December to 21 December 2022 in Indonesia, Singapore, Malaysia, Thailand, Philippines and Vietnam.

⁴Includes mobility rides on the Grab platform. The Singapore’s Land Transport Authority’s (LTA) Quality of Service (QoS) measures how well transport companies providing point to point transport services manage service quality, including safety indicators, and is used as a benchmark for the region as not all countries have a published or defined set of standards, and because Singapore has high safety standards for its taxi and ride-hailing industry.

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ICE Clear Credit Expands European Participation With the Addition of Intesa Sanpaolo as a Clearing Participant

ATLANTA & NEW YORK–(BUSINESS WIRE)–
Intercontinental Exchange, Inc. (NYSE: ICE), a leading global provider of data, technology and market infrastructure, today announced that Intesa Sanpaolo S.p.A., Italy’s leading banking group, has become a clearing participant at ICE Clear Credit, the leading global clearinghouse for credit default swaps.

ICE Clear Credit provides a comprehensive product offering, robust mark-to-market services and state-of-the-art risk management approach. As a clearing participant, Intesa Sanpaolo will have access to industry-leading solutions for clearing Single Name and Index CDS instruments, as well CDS Index Option instruments referencing the major North American and European corporate indices.

“As a valuable and active bank group in Europe, we’re extremely pleased to have Intesa Sanpaolo join as a clearing participant,” said Stan Ivanov, President of ICE Clear Credit. “The addition of Intesa Sanpaolo to the world-class roster of clearing participants delivers further depth to our services and paves the way to extend our offering to Italian financial institutions.”

Launched in 2009, ICE Clear Credit clearing solutions offer clearing for more than 500 Single Name and Index CDS instruments referencing corporate and sovereign debt and have reduced counterparty risk exposure by clearing over $283 trillion in two-sided notional amount, with open interest of approximately $2.0 trillion.

For more information about ICE Clear Credit, please visit: https://www.theice.com/credit-derivatives/options.

About Intercontinental Exchange

Intercontinental Exchange, Inc. (NYSE: ICE) is a Fortune 500 company that designs, builds and operates digital networks to connect people to opportunity. We provide financial technology and data services across major asset classes that offer our customers access to mission-critical workflow tools that increase transparency and operational efficiencies. We operate exchanges, including the New York Stock Exchange, and clearing houses that help people invest, raise capital and manage risk across multiple asset classes. Our comprehensive fixed income data services and execution capabilities provide information, analytics and platforms that help our customers capitalize on opportunities and operate more efficiently. At ICE Mortgage Technology, we are transforming and digitizing the U.S. residential mortgage process, from consumer engagement through loan registration. Together, we transform, streamline and automate industries to connect our customers to opportunity.

Trademarks of ICE and/or its affiliates include Intercontinental Exchange, ICE, ICE block design, NYSE and New York Stock Exchange. Information regarding additional trademarks and intellectual property rights of Intercontinental Exchange, Inc. and/or its affiliates is located here. Other products, services, or company names mentioned herein are the property of, and may be the service mark or trademark of, their respective owners. Key Information Documents for certain products covered by the EU Packaged Retail and Insurance-based Investment Products Regulation can be accessed on the relevant exchange website under the heading “Key Information Documents (KIDS).”

Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995 — Statements in this press release regarding ICE’s business that are not historical facts are “forward-looking statements” that involve risks and uncertainties. For a discussion of additional risks and uncertainties, which could cause actual results to differ from those contained in the forward-looking statements, see ICE’s Securities and Exchange Commission (SEC) filings, including, but not limited to, the risk factors in ICE’s Annual Report on Form 10-K for the year ended December 31, 2022, as filed with the SEC on February 2, 2023.

Category: Fixed Income and Data Services

SOURCE: Intercontinental Exchange

ICE-CORP

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Comcast Corporation and Sky Limited Announce Results of Tender Offers for Certain of their Outstanding Senior Debt Securities

PHILADELPHIA–(BUSINESS WIRE)–
Comcast Corporation (“Comcast”) announced the results, as of 5:00 p.m., New York City time, on May 5, 2023 (the “Expiration Time”), of its previously announced cash tender offers for its outstanding 3.700% Notes due 2024 (the “3.700% Notes”), its outstanding Floating Rate Notes due 2024 (the “Floating Rate Notes”) and its outstanding 3.375% Notes due 2025 (the “3.375% Notes” and, together with the 3.700% Notes and the Floating Rate Notes, the “Comcast Notes”) and Sky Limited, a subsidiary of Comcast (“Sky” and, together with Comcast, the “Issuers”), announced the results, as of the Expiration Time, of its previously announced cash tender offer for its outstanding 3.750% Senior Unsecured Notes due 2024 (the “3.750% Notes” and, together with the Comcast Notes, the “Notes”). The cash tender offers were announced on May 1, 2023 and were made pursuant to the Offer to Purchase and the related Notice of Guaranteed Delivery, each dated May 1, 2023 (the “Tender Offer Documents”). The following table presents the aggregate principal amount of the Notes tendered and not validly withdrawn as of the Expiration Time and the aggregate principal amount of the Notes tendered pursuant to the guaranteed delivery procedures described in the Tender Offer Documents.

Title of Security	CUSIP	Principal Amount Outstanding		Principal Amount Tendered as of Expiration Time(1)		Principal Amount Tendered pursuant to Guaranteed Delivery
3.700% Notes due 2024 issued by Comcast Corporation ………………	20030NCR0	$	2,500,000,000	$	1,285,159,000	$	863,000
Floating Rate Notes due 2024 issued by Comcast Corporation ………………	20030NCX7	$	500,000,000	$	260,121,000	$	468,000
3.750% Senior Unsecured Notes due 2024 issued by Sky Limited…………………….	111013AL2 and G15632AP0	$	1,250,000,000	$	755,181,000	$	6,533,000
3.375% Notes due 2025 issued by Comcast Corporation ………………	20030NBL4	$	993,400,000	$	574,109,000	$	5,924,000

____________________

(1)

Amounts do not include the principal amount of the Notes tendered pursuant to the guaranteed delivery procedures described in the Tender Offer Documents.

Comcast has accepted for purchase all Comcast Notes validly tendered and not validly withdrawn at or prior to the Expiration Time and Sky has accepted for purchase all 3.750% Notes validly tendered and not validly withdrawn at or prior to the Expiration Time. Holders whose Notes have been accepted for purchase will also receive accrued and unpaid interest on the purchased Notes from, and including, the last interest payment date for such Notes up to, but excluding, the Settlement Date (as defined below). The Issuers also expect to accept Notes validly tendered and delivered pursuant to the guaranteed delivery procedures described in the Tender Offer Documents. The Issuers will not accept any further tenders.

The settlement date for Notes validly tendered and not validly withdrawn at or prior to the Expiration Time is expected to be May 10, 2023 (the “Settlement Date”). On May 1, 2023, Comcast priced an offering of $5.0 billion aggregate principal amount of new notes (the “New Notes Offering”). The New Notes Offering is expected to close on May 9, 2023, subject to customary closing conditions. Comcast intends to use all or a portion of the net proceeds from the New Notes Offering to fund the purchase of the Comcast Notes. Sky intends to fund the purchase of the 3.750% Notes with cash on hand.

Deutsche Bank Securities Inc. and TD Securities (USA) LLC served as Joint Dealer Managers for the tender offer.

This news release is neither an offer to purchase nor a solicitation of an offer to sell any securities. The tender offers were made only by, and pursuant to the terms of, the Tender Offer Documents. The tender offers were not made in any jurisdiction in which the making or acceptance thereof would not be in compliance with the securities, blue sky or other laws of such jurisdiction. In any jurisdiction where the laws require the tender offers to be made by a licensed broker or dealer, the tender offers were made by the Joint Dealer Managers on behalf of the Issuers. None of the Issuers, the Tender and Information Agent or the Joint Dealer Managers, nor any of their affiliates, has made any recommendation as to whether holders should tender or refrain from tendering all or any portion of their Notes in response to the tender offers.

About Comcast Corporation

Comcast Corporation (Nasdaq: CMCSA) is a global media and technology company. From the connectivity and platforms we provide, to the content and experiences we create, our businesses reach hundreds of millions of customers, viewers, and guests worldwide. We deliver world-class broadband, wireless, and video through Xfinity, Comcast Business, and Sky; produce, distribute, and stream leading entertainment, sports, and news through brands including NBC, Telemundo, Universal, Peacock, and Sky; and bring incredible theme parks and attractions to life through Universal Destinations & Experiences. Visit www.comcastcorporation.com for more information.

Caution Concerning Forward-Looking Statements

This press release includes statements that may constitute forward-looking statements. In evaluating these statements, readers should consider various factors, including the risks and uncertainties we describe in the “Risk Factors” sections of our most recent Annual Report on Form 10-K, our most recent Quarterly Report on Form 10-Q and other reports filed with the Securities and Exchange Commission (SEC). Factors that could cause our actual results to differ materially from these forward-looking statements include changes in and/or risks associated with: the competitive environment; consumer behavior; the advertising market; programming costs; consumer acceptance of our content; key distribution and/or licensing agreements; use and protection of our intellectual property; our reliance on third-party hardware, software and operational support; keeping pace with technological developments; cyber attacks, security breaches or technology disruptions; weak economic conditions; acquisitions and strategic initiatives; operating businesses internationally; natural disasters, severe weather-related and other uncontrollable events; loss of key personnel; laws and regulations; adverse decisions in litigation or governmental investigations; labor disputes; and other risks described from time to time in reports and other documents we file with the SEC. Readers are cautioned not to place undue reliance on forward-looking statements, which speak only as of the date they are made, and involve risks and uncertainties that could cause actual events or our actual results to differ materially from those expressed in any such forward-looking statements. We undertake no obligation to update or revise publicly any forward-looking statements, whether because of new information, future events or otherwise.

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Cambridge University Hospitals Expands Virtual Care Program with Masimo W1™

NEUCHATEL, Switzerland–(BUSINESS WIRE)–Masimo (NASDAQ: MASI) today announced that Cambridge University Hospitals NHS Foundation Trust, U.K. is adopting the Masimo W1™ advanced health tracking watch for use in its telehealth and telemedicine programs. Masimo W1, which offers accurate, continuous measurements of key physiological parameters, is available in the UK as a medical device that integrates with the Masimo SafetyNet^® remote patient management platform.

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20230507005042/en/

Joe Kiani, Founder and CEO of Masimo, said, “Masimo W1 represents not only the future of personal health but is playing a vital role in the expansion of remote healthcare. Built on our decades of expertise developing breakthrough noninvasive medical monitoring technologies, Masimo W1 is designed to aid valued hospital partners like Cambridge in accelerating their virtual hospital and telehealth programs – ultimately helping to improve patient outcomes while reducing the cost of care. We are excited for Cambridge clinicians and patients.”

Cambridge University Hospitals NHS Foundation Trust launched its virtual ward program in 2022, as part of a National Health Service (NHS) England telehealth initiative designed to promote earlier patient discharge to the home. More than 20 specialities across the hospital now participate in Cambridge’s virtual program, which sends patients home with a variety of Masimo products – such as MightySat^® and wearable medical devices like Radius PPG^®, Radius Tº^®, and now Masimo W1 – that allow monitoring and vitals signs data to be relayed to clinicians back at the hospital. Via the Masimo SafetyNet clinician dashboard, hospital clinicians can keep an eye on their patients’ physiological status from afar, allowing patients to stay monitored in the comfort of their own homes.

Dr. Iain Goodhart, Clinical Director of the Virtual Hospital Program at Cambridge University Hospitals NHS Foundation Trust, commented, “Masimo W1 will help us expand our Virtual Hospital program by offering continuous monitoring of oxygen saturation and pulse rate, as well as ECG spot-checking, in a comfortable, easy to use watch. We hope that, integrated with Masimo SafetyNet, the telehealth platform we already use, Masimo W1 can help support more confident patient discharge and management for patients who, before our Virtual Hospital program, might have needed to stay longer in the hospital. We’re excited to incorporate Masimo W1 into our telehealth practices.”

Masimo W1 for use in medical applications is pending FDA clearance in the U.S.

@Masimo | #Masimo

About Masimo

Masimo (NASDAQ: MASI) is a global medical technology company that develops and produces a wide array of industry-leading monitoring technologies, including innovative measurements, sensors, patient monitors, and automation and connectivity solutions. In addition, Masimo Consumer Audio is home to eight legendary audio brands, including Bowers & Wilkins, Denon, Marantz, and Polk Audio. Our mission is to improve life, improve patient outcomes, and reduce the cost of care. Masimo SET^® Measure-through Motion and Low Perfusion™ pulse oximetry, introduced in 1995, has been shown in over 100 independent and objective studies to outperform other pulse oximetry technologies.¹ Masimo SET^® has also been shown to help clinicians reduce severe retinopathy of prematurity in neonates,² improve CCHD screening in newborns³ and, when used for continuous monitoring with Masimo Patient SafetyNet™ in post-surgical wards, reduce rapid response team activations, ICU transfers, and costs.^4-7 Masimo SET^® is estimated to be used on more than 200 million patients in leading hospitals and other healthcare settings around the world,⁸ and is the primary pulse oximetry at 9 of the top 10 hospitals as ranked in the 2022-23 U.S. News and World Report Best Hospitals Honor Roll.⁹ In 2005, Masimo introduced rainbow^® Pulse CO-Oximetry technology, allowing noninvasive and continuous monitoring of blood constituents that previously could only be measured invasively, including total hemoglobin (SpHb^®), oxygen content (SpOC™), carboxyhemoglobin (SpCO^®), methemoglobin (SpMet^®), Pleth Variability Index (PVi^®), RPVi™ (rainbow^® PVi), and Oxygen Reserve Index (ORi™). In 2013, Masimo introduced the Root^® Patient Monitoring and Connectivity Platform, built from the ground up to be as flexible and expandable as possible to facilitate the addition of other Masimo and third-party monitoring technologies; key Masimo additions include Next Generation SedLine^® Brain Function Monitoring, O3^® Regional Oximetry, and ISA™ Capnography with NomoLine^® sampling lines. Masimo’s family of continuous and spot-check monitoring Pulse CO-Oximeters^® includes devices designed for use in a variety of clinical and non-clinical scenarios, including tetherless, wearable technology, such as Radius-7^®, Radius PPG^®, and Radius VSM™, portable devices like Rad-67^®, fingertip pulse oximeters like MightySat^® Rx, and devices available for use both in the hospital and at home, such as Rad-97^®. Masimo hospital and home automation and connectivity solutions are centered around the Masimo Hospital Automation™ platform, and include Iris^® Gateway, iSirona™, Patient SafetyNet, Replica^®, Halo ION^®, UniView^®, UniView :60™, and Masimo SafetyNet^®. Its growing portfolio of health and wellness solutions includes Radius Tº^® and the Masimo W1™ watch. Additional information about Masimo and its products may be found at www.masimo.com. Published clinical studies on Masimo products can be found at www.masimo.com/evidence/featured-studies/feature/.

ORi, RPVi, and Radius VSM have not received FDA 510(k) clearance and are not available for sale in the United States. The use of the trademark Patient SafetyNet is under license from University HealthSystem Consortium.

References

1. Published clinical studies on pulse oximetry and the benefits of Masimo SET^® can be found on our website at http://www.masimo.com. Comparative studies include independent and objective studies which are comprised of abstracts presented at scientific meetings and peer-reviewed journal articles.

2. Castillo A et al. Prevention of Retinopathy of Prematurity in Preterm Infants through Changes in Clinical Practice and SpO₂ Technology. Acta Paediatr. 2011 Feb;100(2):188-92.

3. de-Wahl Granelli A et al. Impact of pulse oximetry screening on the detection of duct dependent congenital heart disease: a Swedish prospective screening study in 39,821 newborns. BMJ. 2009;Jan 8;338.

4. Taenzer A et al. Impact of pulse oximetry surveillance on rescue events and intensive care unit transfers: a before-and-after concurrence study. Anesthesiology. 2010:112(2):282-287.

5. Taenzer A et al. Postoperative Monitoring – The Dartmouth Experience. Anesthesia Patient Safety Foundation Newsletter. Spring-Summer 2012.

6. McGrath S et al. Surveillance Monitoring Management for General Care Units: Strategy, Design, and Implementation. The Joint Commission Journal on Quality and Patient Safety. 2016 Jul;42(7):293-302.

7. McGrath S et al. Inpatient Respiratory Arrest Associated With Sedative and Analgesic Medications: Impact of Continuous Monitoring on Patient Mortality and Severe Morbidity. J Patient Saf. 2020 14 Mar. DOI: 10.1097/PTS.0000000000000696.

8. Estimate: Masimo data on file.

9. http://health.usnews.com/health-care/best-hospitals/articles/best-hospitals-honor-roll-and-overview.

Forward-Looking Statements

This press release includes forward-looking statements as defined in Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, in connection with the Private Securities Litigation Reform Act of 1995. These forward-looking statements include, among others, statements regarding the potential effectiveness of Masimo W1™ and Masimo SafetyNet^®. These forward-looking statements are based on current expectations about future events affecting us and are subject to risks and uncertainties, all of which are difficult to predict and many of which are beyond our control and could cause our actual results to differ materially and adversely from those expressed in our forward-looking statements as a result of various risk factors, including, but not limited to: risks related to our assumptions regarding the repeatability of clinical results; risks related to our belief that Masimo’s unique noninvasive measurement technologies, including Masimo W1 and Masimo SafetyNet, contribute to positive clinical outcomes and patient safety; risks related to our belief that Masimo noninvasive medical breakthroughs provide cost-effective solutions and unique advantages; risks that Cambridge University Hospitals fails to realize the expected benefits of Masimo W1; risks related to COVID-19; as well as other factors discussed in the “Risk Factors” section of our most recent reports filed with the Securities and Exchange Commission (“SEC”), which may be obtained for free at the SEC’s website at www.sec.gov. Although we believe that the expectations reflected in our forward-looking statements are reasonable, we do not know whether our expectations will prove correct. All forward-looking statements included in this press release are expressly qualified in their entirety by the foregoing cautionary statements. You are cautioned not to place undue reliance on these forward-looking statements, which speak only as of today’s date. We do not undertake any obligation to update, amend or clarify these statements or the “Risk Factors” contained in our most recent reports filed with the SEC, whether as a result of new information, future events or otherwise, except as may be required under the applicable securities laws.

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Masimo W1™ (Photo: Business Wire)

Sprinklr Expands Presence in India With New Office in Gurgaon

Plans to welcome more than 400 new engineers by the end of the summer and more than 200 interns in May

NEW YORK–(BUSINESS WIRE)–Sprinklr (NYSE: CXM), the unified customer experience management (Unified-CXM) platform for modern enterprises, today announced the opening of a new office in Gurgaon, India. The new office is in the heart of Gurgaon’s business district and is the global research and development (R&D) hub for Sprinklr. It is designed to provide a flexible and inclusive work environment for Sprinklr’s growing team in India, and further embodies the company’s values for working, living and being— called ‘The Sprinklr Way.’

The new office is Sprinklr’s ninth location in Asia Pacific and second in India; the other office is located in Bangalore. The company has plans to further expand its team in Gurgaon, adding more than 400 new engineers by the end of the summer. This May, Sprinklr will also be offering valuable learning and growth opportunities for more than 200 interns.

The new office is equipped with state-of-the-art amenities to support employee well-being and productivity, including a modern gym. The office also offers nourishing meals throughout the day to ensure that employees have access to healthy options.

Comments on the News:

“Sprinklr is a global company with offices around the world, and India has always been a strategic market for us. We’re thrilled to expand our commitment in the region with our new state-of-the-art facility designed to attract and retain top talent, while supporting our global customers,” said Rohit Munjal, Vice President of Culture and Talent, India and Asia Pacific, Sprinklr. “With our new office’s modern amenities and flexible work arrangements, we aim to create a work environment where our employees can thrive while making our global customers happier. In this new office space, we hope employees are inspired to bring their best, authentic selves to work.”

For more information on Sprinklr’s culture and open roles, please visit: https://www.sprinklr.com/careers/

About Sprinklr

Sprinklr is a leading enterprise software company for all customer-facing functions. With advanced AI, Sprinklr’s unified customer experience management (Unified-CXM) platform helps companies deliver human experiences to every customer, every time, across any modern channel. Headquartered in New York City with employees around the world, Sprinklr works with more than 1,000 of the world’s most valuable enterprises — global brands like Microsoft, P&G, Samsung and more than 50% of the Fortune 100.

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Farallon Capital Management Comments on Successful Campaign for Change at Exelixis

Pleased that Dave Johnson is Now Anticipated to Join Fellow Farallon Nominees Tom Heyman and Bob Oliver on Exelixis’ Board of Directors

Urges Shareholders to Send Clearest Message Possible That the Status Quo Cannot Continue by Voting to Elect All Three of Farallon’s Independent Nominees

SAN FRANCISCO–(BUSINESS WIRE)–
Funds managed by Farallon Capital Management, L.L.C. (“Farallon”) own approximately 7.2% of the outstanding shares of Exelixis, Inc. (NASDAQ: EXEL) (“Exelixis” or the “Company”), making it the Company’s largest active shareholder. Farallon nominated three exceptional candidates for election to the Exelixis Board of Directors (the “Board”) at the upcoming Annual Meeting of Shareholders, which will be held on May 31, 2023. Exelixis had previously agreed to support two of Farallon’s nominees, Tom Heyman and Bob Oliver.

Today, incumbent director Lance Willsey, whom Farallon had targeted for replacement on the Board by Farallon’s third candidate, Dave Johnson, resigned from his directorship and determined he would not stand for reelection. As a result, Dave Johnson is expected to be elected to the Company’s Board.

Farallon stated:

“This election is about catalyzing change at a company that has long resisted making meaningful adjustments to its R&D priorities and capital allocation approach. With the anticipated election of all three Farallon nominees, we expect the Board to now objectively review the Company’s longstanding underperformance and genuinely consider the opportunities for improvement through a more focused R&D effort.

It is unfortunate that it took our engagement for the Company to initiate a share repurchase plan and our proxy contest to compel the Board to refresh its stale Board of Directors. The Board’s insistence on contesting our nominees until now underscores its aversion to change.

Fortunately, the Farallon candidates are positioned to bring fresh perspectives to the Board. Dave Johnson will bring current biotechnology expertise, a shareholder mindset and much-needed independence and objectivity to the boardroom. We believe he will be an exceptional addition, and together with Farallon candidates Tom Heyman and Bob Oliver, will help drive long-overdue change at Exelixis.

We and our fellow shareholders must remain vigilant at Exelixis, or the Board and Company may fall back into old patterns. Exelixis has a tremendous opportunity to benefit patients and shareholders by communicating a clear strategy, focusing its R&D efforts and improving capital allocation. In order to ensure these things happen, it is essential that an unequivocal message be sent to the Company that shareholders will not accept any further foot dragging or attempts to preserve the status quo. This is why we urge shareholders to vote for all three of our candidates.”

We urge shareholders to vote “FOR” each of the Farallon Nominees.

About Farallon

Farallon Capital Management, L.L.C., is a global investment firm founded in 1986 and registered as an investment advisor with the United States Securities and Exchange Commission since 1990. Farallon seeks investments across asset classes and around the world through a process of bottom-up fundamental research and analysis emphasizing capital preservation. More information on Farallon is available at www.faralloncapital.com.

Disclaimer

This press release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities described herein in any state to any person. This press release does not recommend the purchase or sale of a security. There is no assurance or guarantee with respect to the prices at which any securities of the Company will trade, and such securities may not trade at prices that may be implied herein. In addition, this press release and the discussions and opinions herein are for general information only, and are not intended to provide investment advice.

This press release contains forward-looking statements. Forward-looking statements are statements that are not historical facts and may include projections and estimates and their underlying assumptions, statements regarding plans, objectives, intentions and expectations with respect to future financial results, events, operations, services, product development and potential, and statements regarding future performance. Forward-looking statements are generally identified by the words “expects”, “anticipates”, “believes”, “intends”, “estimates”, “plans”, “will be” and similar expressions. Although Farallon (as defined below) believes that the expectations reflected in such forward-looking statements are reasonable, investors are cautioned that forward-looking information and statements are subject to various risks and uncertainties—many of which are difficult to predict and are generally beyond the control of Farallon or the Company—that could cause actual results and developments to differ materially from those expressed in, or implied or projected by, the forward-looking information and statements. These risks and uncertainties are enumerated in the Company’s public filings. In addition, the foregoing considerations and any other publicly stated risks and uncertainties should be read in conjunction with the risks and cautionary statements discussed or identified in the Company’s public filings with the United States Securities and Exchange Commission (the “SEC”), including those listed under “Risk Factors” in the Company’s annual reports on Form 10-K and quarterly reports on Form 10-Q. The forward-looking statements speak only as of the date hereof and, other than as required by applicable law, Farallon does not undertake any obligation to update or revise any forward-looking information or statements. Certain information included in this material is based on data obtained from sources considered to be reliable. Any analyses provided to assist the recipient of this material in evaluating the matters described herein may be based on subjective assessments and assumptions and may use one among alternative methodologies that produce different results. Accordingly, any analyses should also not be viewed as factual and also should not be relied upon as an accurate prediction of future results. All figures are unaudited estimates and, unless required by law, are subject to revision without notice.

Funds managed by Farallon Capital Management, L.L.C. (“Farallon Capital Management”) currently beneficially own shares of the Company. These funds are in the business of trading (i.e., buying and selling) securities and may continue trading in the securities of the Company, subject to applicable law. You should assume such funds will from time to time sell all or a portion of their holdings of the Company in open market transactions or otherwise, buy additional shares (in open market or privately negotiated transactions or otherwise), or trade in options, puts, calls, swaps or other derivative instruments relating to such shares, subject to applicable law.

Consequently, Farallon Capital Management’s beneficial ownership of shares of, and/or economic interest in, the Company may vary over time depending on various factors, with or without regard to Farallon Capital Management’s views of the Company’s business, prospects, or valuation (including the market price of the Company’s shares), including, without limitation, other investment opportunities available to Farallon Capital Management, concentration of positions in the portfolios managed by Farallon Capital Management, conditions in the securities markets and general economic and industry conditions. Farallon Capital Management also reserves the right to change the opinions expressed herein and its intentions with respect to its investment in the Company, and to take any actions with respect to its investment in the Company as it may deem appropriate, and disclaims any obligation to notify the market or any other party of any such changes or actions, except as required by law.

Important Information

Farallon Capital Partners, L.P. (together with its affiliates, “Farallon”), together with certain other persons acting as participants in the solicitation of shareholders of the Company by Farallon in connection with the Company’s 2023 annual meeting of shareholders (the “2023 Annual Meeting”), have filed a definitive proxy statement and accompanying proxy card with the SEC on May 3, 2023. Shareholders are advised to read the definitive proxy statement and any other documents related to the 2023 Annual Meeting as they contain important information. The Company has announced that Lance Willsey resigned from its Board of Directors, effective May 7, 2023. Accordingly, the Company has indicated that any votes for Mr. Willsey will be disregarded and will not be counted at the 2023 Annual Meeting.

The definitive proxy statement and other relevant documents are available free of charge on the SEC’s website at https://www.sec.gov, as well as on Farallon’s website in connection with the 2023 Annual Meeting at https://www.FocusEXEL.com. Shareholders may also direct a request to Farallon’s proxy solicitor, MacKenzie Partners, Inc., 1407 Broadway, 27th Floor, New York, New York 10018 (shareholders can call toll-free at 1-800-322-2885).

View source version on businesswire.com: https://www.businesswire.com/news/home/20230507005056/en/

For Investors:

MacKenzie Partners, Inc.

Bob Marese, 1-800-322-2885

[email protected]

For Media:

Longacre Square Partners

Dan Zacchei / Charlotte Kiaie, 646-386-0091

[email protected]

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Posted on May 7, 2023 11:19 pm

Rocket Lab Successfully Launches First Batch of TROPICS Satellites for NASA

Rocket Lab Successfully Launches First Batch of TROPICS Satellites for NASA

The ‘Rocket Like a Hurricane’ launch was the first of two dedicated Electron launches to deploy a constellation of hurricane monitoring satellites for NASA

MAHIA, New Zealand–(BUSINESS WIRE)–
Rocket Lab USA, Inc. (Nasdaq: RKLB) (“Rocket Lab” or “the Company”), a leading launch and space systems company, today successfully completed the first of two dedicated Electron launches to deploy a constellation of tropical cyclone monitoring satellites for NASA.

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Electron lifts off from Rocket Lab Launch Complex 1 for the ‘Rocket Like a Hurricane’ launch to deploy satellites for NASA’s TROPICS constellation. (Photo: Business Wire)

The ‘Rocket Like a Hurricane’ launch lifted-off on May 8 at 13:00 NZST (01:00 UTC) from Rocket Lab Launch Complex 1 on New Zealand’s Mahia Peninsula deploying two of the four CubeSats that comprise the TROPICS constellation (Time-Resolved Observations of Precipitation structure and storm Intensity with a Constellation of Smallsats). TROPICS will monitor the formation and evolution of tropical cyclones, including hurricanes, and will provide rapidly updating observations of storm intensity.

The constellation, which is part of NASA’s Earth System Science Pathfinder Program, requires launch to 550 kilometers altitude and inclination of about 30 degrees. Each pair of CubeSats must be launched to two specific orbital planes that are equally spaced 180 degrees opposite to maximize the temporal resolution. These unique orbits over Earth’s tropics allow the satellites to travel over any given storm about once an hour compared with current weather tracking satellites that have a timing of about once every six hours. This high revisit rate aims to help scientists better understand the processes that effect these high-impact storms, ultimately leading to improved modeling and prediction to help protect lives and livelihoods. All four TROPICS satellites need to be deployed into their operational orbit within a 60-day period, a mission requirement made possible with small dedicated launch. With the first batch of TROPICS CubeSats now in orbit, the second launch, called ‘Coming to a Storm Near You,’ is expected to launch on another Electron rocket in approximately two weeks from Launch Complex 1.

“The TROPICS constellation has the real potential to save lives by providing more timely data about storm intensity and providing advance warning to those in storm paths, so it’s an immense privilege to have deployed these spacecraft to their precise orbits before the upcoming storm season,” said Rocket Lab founder and CEO Peter Beck. “We’re grateful to the NASA team for entrusting us with such a critical mission and we look forward to completing the constellation with the second Electron launch in the coming days.”

“We are extremely proud of all our partners, including MIT Lincoln Labs, Blue Canyon Technologies, KSAT, and Rocket Lab for successfully executing on this first launch. We look forward to the entire constellation being on-orbit to realize the benefits for the agency, as well as for our colleagues around the world,” said Ben Kim, TROPICS program executive for NASA’s Earth Science Division.

‘Rocket Like a Hurricane’ was Rocket Lab’s fourth mission for 2023 and the Company’s 36^th Electron mission overall. It brings the total number of satellites launched to orbit by Rocket Lab to 161.

Follow Rocket Lab on Twitter @RocketLab for real-time updates about the next TROPICS launch.

ABOUT Rocket Lab

Founded in 2006, Rocket Lab is an end-to-end space company with an established track record of mission success. We deliver reliable launch services, satellite manufacture, spacecraft components, and on-orbit management solutions that make it faster, easier and more affordable to access space. Headquartered in Long Beach, California, Rocket Lab designs and manufactures the Electron small orbital launch vehicle, the Photon satellite platform and the Company is developing the large Neutron launch vehicle for constellation deployment. Since its first orbital launch in January 2018, Rocket Lab’s Electron launch vehicle has become the second most frequently launched U.S. rocket annually and has delivered 161 satellites to orbit for private and public sector organizations, enabling operations in national security, scientific research, space debris mitigation, Earth observation, climate monitoring, and communications. Rocket Lab’s Photon spacecraft platform has been selected to support NASA missions to the Moon and Mars, as well as the first private commercial mission to Venus. Rocket Lab has three launch pads at two launch sites, including two launch pads at a private orbital launch site located in New Zealand and a third pad in Virginia. To learn more, visit www.rocketlabusa.com.

Forward-Looking Statements

This press release may contain certain “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. All statements, other than statements of historical facts, contained in this release, including statements regarding our expectations of financial results for first quarter 2023, strategy, future operations, future financial position, projected costs, prospects, plans and objectives of management, are forward-looking statements. Words such as, but not limited to, “anticipate,” “aim,” “believe,” “contemplate,” “continue,” “could,” “design,” “estimate,” “expect,” “intend,” “may,” “might,” “plan,” “possible,” “potential,” “predict,” “project,” “seek,” “should,” “suggest,” “strategy,” “target,” “will,” “would,” and similar expressions or phrases, or the negative of those expressions or phrases, are intended to identify forward-looking statements, although not all forward-looking statements contain these identifying words. These forward-looking statements are based on Rocket Lab’s current expectations and beliefs concerning future developments and their potential effects. These forward-looking statements involve a number of risks, uncertainties (many of which are beyond Rocket Lab’s control), or other assumptions that may cause actual results or performance to be materially different from those expressed or implied by these forward-looking statements. Many factors could cause actual future events to differ materially from the forward-looking statements in this release, including risks related to the global COVID-19 pandemic; risks related to government restrictions and lock-downs in New Zealand and other countries in which we operate that could delay or suspend our operations; delays and disruptions in expansion efforts; our dependence on a limited number of customers; the harsh and unpredictable environment of space in which our products operate which could adversely affect our launch vehicle and spacecraft; increased congestion from the proliferation of low Earth orbit constellations which could materially increase the risk of potential collision with space debris or another spacecraft and limit or impair our launch flexibility and/or access to our own orbital slots; increased competition in our industry due in part to rapid technological development and decreasing costs; technological change in our industry which we may not be able to keep up with or which may render our services uncompetitive; average selling price trends; failure of our launch vehicles, spacecraft and components to operate as intended either due to our error in design in production or through no fault of our own; launch schedule disruptions; supply chain disruptions, product delays or failures; design and engineering flaws; launch failures; natural disasters and epidemics or pandemics; changes in governmental regulations including with respect to trade and export restrictions, or in the status of our regulatory approvals or applications; or other events that force us to cancel or reschedule launches, including customer contractual rescheduling and termination rights; risks that acquisitions may not be completed on the anticipated time frame or at all or do not achieve the anticipated benefits and results; and the other risks detailed from time to time in Rocket Lab’s filings with the Securities and Exchange Commission (the “SEC”), including under the heading “Risk Factors” in Rocket Lab’s Annual Report on Form 10-K for the fiscal year ended December 31, 2022, which was filed with the SEC on March 7, 2023, and elsewhere (including that the impact of the COVID-19 pandemic may also exacerbate the risks discussed therein). There can be no assurance that the future developments affecting Rocket Lab will be those that we have anticipated. Except as required by law, Rocket Lab is not undertaking any obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise.

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Rocket Lab Media Contact

Morgan Bailey

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Electron lifts off from Rocket Lab Launch Complex 1 for the ‘Rocket Like a Hurricane’ launch to deploy satellites for NASA’s TROPICS constellation. (Photo: Business Wire)