SAN JOSE, Calif.--(BUSINESS WIRE)--Bloom Energy, a leading provider of distributed energy solutions, today announced the appointment of Benjamin Gaszynski to its international leadership team to strengthen the company’s expansion efforts, enhance competitive positioning and support deployment of its fuel-flexible, clean energy technology across Southeast Asia with an initial focus on Thailand, Singapore and Malaysia.

An international business leader who has spent 15 years in the oil and gas, renewable energy and environmental sectors, Gaszynski’s background includes substantial experience in developing, managing and rapidly growing multi-million-dollar energy business units across Asia and the Middle East at organizations such as Ortec Group and AIS Bardot.

Gaszynski will report to Bloom Energy’s executive vice president, international business, Azeez Mohammed.

“We are thrilled to welcome Benjamin to Bloom,” said Azeez Mohammed. “He brings vast experience as well as valuable perspectives and relationships that will help organizations in Southeast Asia reduce carbon emissions, enhance resiliency and chart a path toward a net-zero carbon future.”

Bloom Energy’s fuel-flexible, non-combustion fuel cells use biogas and hydrogen, in addition to natural gas, to create electricity at significantly higher efficiencies than traditional, combustion-based resources. In addition, Bloom’s technology can be used to create hydrogen, which is increasingly recognized as a critically important tool necessary for the full decarbonization of the energy economy.

About Bloom Energy
Bloom Energy’s mission is to make clean, reliable energy affordable for everyone in the world. The company’s product, the Bloom Energy Server, delivers highly reliable and resilient, always-on electric power that is clean, cost-effective, and ideal for microgrid applications. Bloom’s customers include many Fortune 100 companies and leaders in manufacturing, data centers, healthcare, retail, higher education, utilities, and other industries. For more information, visit www.bloomenergy.com.

Cautionary Note Regarding Forward-Looking Statements
This press release contains forward-looking statements within the meaning of the U.S. federal securities laws that involve risks and uncertainties. These statements should not be taken as guarantees of results and should not be considered an indication of future activity or future performance. Actual events or results may differ materially from those described in this press release due to a number of risks and uncertainties as detailed in Bloom’s periodic SEC filings. Bloom undertakes no obligation to revise or publicly update any forward-looking statements unless if and as required by law.

Jennifer Duffourg
Bloom Energy
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KINGSTON, Ontario--(BUSINESS WIRE)--#bluevistacapital--Podium Developments has just announced the completion of geothermal drilling on its newest Kingston development at 575 Princess Street. The development will be the first large multifamily residential building in Kingston to utilize a geothermal energy source, lowering the building’s carbon footprint, increasing energy efficiency, and further advancing the City’s commitment to sustainability.

“At Podium, developing high-quality buildings that benefit the residents, the environment and the community we build within has always been one of our company’s goals. Creating viable housing solutions through innovative problem solving is a key part of this goal-oriented strategy,” said Oskar Johansson, President of Podium Developments.

“Together with our partners Podium, Blue Vista Capital Management and OPTrust, we are proud to be invested in the first large multifamily residential building in Kingston utilizing geothermal energy. The completion of the geothermal drilling on-site by Diverso Energy is the first step in honouring our commitment to produce more cost-effective, energy-efficient suites for 575 Princess’ residents and supporting the City’s sustainability goals as outlined in Kingston’s 2040 Climate Plan,” said David Ogden, President of Secure Capital.

According to a report by the Ontario Geothermal Association, geothermal can provide space heating and cooling of an Ontario building at a typical efficiency of 400 per cent for heating, and 800 per cent for cooling. The potential energy and emissions savings of switching from a traditional HVAC system to a geothermal heat pump system have been shown to result in up to a 33 per cent decrease in annual energy use and a 47 per cent decrease in greenhouse gas (GHG) emissions.

“Creating successful real estate investment solutions requires asset managers who are able to implement innovative new building practices, and a city with both the potential and desire to see these innovations prosper,” said Patrick Flaherty, Senior Vice President at Blue Vista Management. “575 Princess is the rare culmination of both these factors. The City of Kingston, with its enormous potential for growth and a desire to become a leading city in sustainability, is the perfect place for this unique construction design to take place. 575 Princess is an incredible project and we are happy to be a long-term partner and investor facilitating its development,” Flaherty added.

Podium believes climate change is the most significant long-term global threat facing the planet. The actions taken today by current generations will directly affect the quality of life for all future generations to come. Their social, economic, cultural and environmental well-being hinges on our ability to act now in whatever capacity is available to us. Reducing greenhouse gas (GHG) emissions and transitioning to a low carbon economy is one of the best ways we can help reduce our environmental impact on the planet and leave a better world for future generations to come.

“Kingston City Council is committed to demonstrating leadership on climate action and has set an ambitious target of becoming carbon neutral no later than 2040. Meeting these goals and tackling the global threat of climate change will require action and investment from both the public and private sectors,” said Mayor of Kingston, Bryan Paterson. “I’m thrilled to see Podium Developments’ commitment to sustainability and to addressing climate change demonstrated through the use of innovative technology to implement geothermal energy at 575 Princess St. Every action matters as we work to reduce GHG emissions and make our community and planet a better place for our children,” added Mayor Paterson.

“We are proud to once again partner with Blue Vista Management, Secure and Podium on this new development, demonstrating OPTrust’s ongoing commitment to direct investment in sustainable real estate practices,” said Jim Wong, Senior Portfolio Manager, Real Estate Group, OPTrust.

Once completed, 575 Princess will rise to 10-storeys housing 343-units ranging from studio to three-bedroom suite configurations. Optimally located within walking distance to Queen’s University and downtown Kingston, the project will include approximately 10,000 sq. ft. of grade-related commercial and the addition of a new public park at the corner of Frontenac and Princess Streets.

For project information, visit: podiumdevelopments.com/projects-575-princess or email This email address is being protected from spambots. You need JavaScript enabled to view it..

ABOUT PODIUM DEVELOPMENTS (podiumdevelopments.com)

Founded in 2004 and registered with Tarion for over a decade, Podium Developments is a respected developer and builder with a successful track record in rezoning and developing sensitive urban infill locations. With 17 successful projects completed in Toronto, Oshawa, Barrie, Kingston, and Guelph, and nine more currently in development in both the United States and Canada, Podium Developments has demonstrated tremendous expertise in bringing new residential developments to fruition.

ABOUT BLUE VISTA CAPITAL MANAGEMENT (bluevistallc.com)

Blue Vista is a leading investment management firm focused on helping investors maximize returns through best-in-class real estate strategies in student housing, middle market equity and middle market lending. Since 2003, Blue Vista has acquired and/or developed over $3.0 billion in student housing properties, representing 36,000+ beds at 58 college campuses across the United States. Across its three platforms, the firm has invested over $10.5 billion in total capitalization since its inception in 2002, with the goal of challenging the status quo, setting high standards and bringing a relationship-based, client-focused approach to real estate investing.

ABOUT OPTRUST (optrust.com)

With net assets of over $23 billion, OPTrust invests and manages one of Canada’s largest pension funds and administers the OPSEU Pension Plan (including OPTrust Select), a defined benefit plan with over 98,000 members and retirees. OPTrust was established to give plan members and the Government of Ontario an equal voice in the administration of the Plan and the investment of its assets through joint trusteeship. OPTrust is governed by a 10-member Board of Trustees, five of whom are appointed by OPSEU and five by the Government.

ABOUT SECURE CAPITAL (securecapital.ca)

Secure Capital is a Toronto based boutique real estate investment manager and advisor founded in 2001. The cycle-tested management team has extensive experience in a wide range of asset classes across North America. The principals have transacted and managed over $10 billion of industrial, retail, office, and residential assets. Secure Capital launched the Canadian Residential Investment Fund (CRIF) to accommodate investors in the Kingston residential development projects.

Gea Koleva
Marketing & Strategic Communications Specialist
McOuat Partnership
Cell: 416-702-1223
T: 905-472-2000 ext 247
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Rachel Rogers
Public Relations Specialist
McOuat Partnership
Cell: 416-984-5524
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Claire Prashaw
Director, Public Affairs
OPTrust
416-681-3617
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SAN JOSE, Calif.--(BUSINESS WIRE)--Bloom Energy, a leading provider of distributed energy solutions, today announced the appointment of Mohammed Ali Khan to its international leadership team to further strengthen the company’s expansion efforts, enhance competitive positioning and support deployment of its fuel-flexible, clean energy technology.

Ali Khan assumes the role of senior director, international business, where he will spearhead Bloom’s global market research and commercial sales and partnerships in the Middle East and North Africa. With more than two decades of experience in the energy sector, Ali Khan has held roles in finance, business and commercial development at major industrial companies such as GE Energy and Baker Hughes. Ali Khan will report to Bloom’s executive vice president, international business, Azeez Mohammed.

“We are thrilled to welcome Mohammed to Bloom,” said Azeez Mohammed. “He brings vast experience as well as valuable perspectives and relationships that will help organizations reduce carbon emissions, enhance resiliency and chart a path toward a net-zero carbon future.”

Bloom Energy’s fuel-flexible, non-combustion fuel cells use biogas and hydrogen, in addition to natural gas, to create electricity at significantly higher efficiencies than traditional, combustion-based resources. In addition, Bloom’s technology can be used to create hydrogen, which is increasingly recognized as a critically important tool necessary for the full decarbonization of the energy economy.

About Bloom Energy

Bloom Energy’s mission is to make clean, reliable energy affordable for everyone in the world. The company’s product, the Bloom Energy Server, delivers highly reliable and resilient, always-on electric power that is clean, cost-effective, and ideal for microgrid applications. Bloom’s customers include many Fortune 100 companies and leaders in manufacturing, data centers, healthcare, retail, higher education, utilities, and other industries. For more information, visit www.bloomenergy.com.

Cautionary Note Regarding Forward-Looking Statements

This press release contains forward-looking statements within the meaning of the U.S. federal securities laws that involve risks and uncertainties. These statements should not be taken as guarantees of results and should not be considered an indication of future activity or future performance. Actual events or results may differ materially from those described in this press release due to a number of risks and uncertainties as detailed in Bloom’s periodic SEC filings. Bloom undertakes no obligation to revise or publicly update any forward-looking statements unless if and as required by law.

Jennifer Duffourg
Bloom Energy
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EVANSVILLE, Ind.--(BUSINESS WIRE)--Today, Berry Global Group, Inc. (NYSE: BERY), announced its continued leading investments in access to circular polyolefins from advanced recycling to support customer sustainability goals. These polyolefins are obtained by advanced recycling, enabled by the adoption of new chemical recycling technologies, of post-consumer plastic waste not suitable for traditional recycling. In this agreement, Berry collaborates with a leading supplier of polyolefin solutions, Borealis, for access to its first volumes of the in-demand circular polyolefins made from chemical recycling. This announcement adds to Berry’s access to the 600 million pounds of post-consumer recycled (PCR) content by 2025, allowing Berry to further support customers with unmatched access to circular polyolefins.

Innovative processes like chemical recycling make it possible for material that would otherwise be discarded as waste and destined for incineration or landfill to be used as feedstock for production of polyolefins that fulfill the most stringent quality requirements. Continually increasing the demand for these processes is a critical component in the economics of achieving a circular economy, while just last month, Berry announced its access to another 300 million pounds of chemical recycled material.

“Investments in chemical recycling with partners like Borealis are critical to Berry and our customers as we collaborate across the value chain to solve the global commitment achieving net-zero emissions by 2050,” said Jean-Marc Galvez, President of Berry’s Consumer Packaging International Division. “Plastics are a critical solution as we advance toward circularity. As the preferred substrate for its lower greenhouse gas emissions, Berry’s design expertise with circular resins is an important factor in the journey to demonstrate the value of giving plastic multiple lives.”

Berry will use the polypropylene from chemical recycling to manufacture food packaging for longtime global brand owners, creating a package made exclusively from resins made from chemical recycling. A preferred substrate for food, plastic provides high levels of product protection, while also being increasingly recycled. The package will be manufactured at one of Berry’s existing European manufacturing facilities and will launch in the upcoming quarter.

“Collaboration is a key driver of the Borealis promise to accelerate action in plastics circularity through our EverMinds™ platform. As a result of working together with dedicated partners, such as Berry, a partner committed to transforming the industry as we are, brings us one step closer to achieving a circular economy for plastics,” said Maria Ciliberti, Borealis Vice President PO Marketing.

About Berry

At Berry Global Group, Inc. (NYSE:BERY), we create innovative packaging and engineered products that we believe make life better for people and the planet. We do this every day by leveraging our unmatched global capabilities, sustainability leadership, and deep innovation expertise to serve customers of all sizes around the world. Harnessing the strength in our diversity and industry leading talent of 47,000 global employees across more than 295 locations, we partner with customers to develop, design, and manufacture innovative products with an eye toward the circular economy. The challenges we solve and the innovations we pioneer benefit our customers at every stage of their journey. For more information, visit our website at berryglobal.com.

About Borealis

Borealis is one of the world’s leading providers of advanced and circular polyolefin solutions and a European market leader in base chemicals, fertilizers and the mechanical recycling of plastics. We leverage our polymers expertise and decades of experience to offer value adding, innovative and circular material solutions for key industries. In re-inventing for more sustainable living, we build on our commitment to safety, our people and excellence as we accelerate the transformation to a circular economy and expand our geographical footprint.

With head offices in Vienna, Austria, Borealis employs 6,900 employees and operates in over 120 countries. In 2020, Borealis generated EUR 6.8 billion in sales revenue and a net profit of EUR 589 million. OMV, the Austria-based international oil and gas company, owns 75% of Borealis, while the remaining 25% is owned by a holding company of the Abu-Dhabi based Mubadala. We supply services and products to customers around the globe through Borealis and two important joint ventures: Borouge (with the Abu Dhabi National Oil Company, or ADNOC, based in UAE); and Baystar™ (with Total, based in the US).

Berry Media Contact:
Amy Waterman
+1 812 306 2435
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• Northeast Natural Energy seeking to achieve independent certification of natural gas production
• Certification sought under standards developed by Equitable Origin and MiQ
• LUMEN Terrain from Avitas, a Baker Hughes venture, to provide continuous monitoring technology approved for certification use

CHARLESTON, W.V. & LONDON--(BUSINESS WIRE)--Northeast Natural Energy (NNE) today announced it will deploy the LUMEN Terrain continuous emissions monitoring technology from Avitas, a Baker Hughes venture, to help achieve independent certification of natural gas production under the MiQ methane standard. In addition to methane certification, NNE will also seek certification under the EO100™ Standard for Responsible Energy Development that covers a broad range of environmental, social and governance (ESG) criteria.

LUMEN Terrain will monitor NNE’s natural gas production facilities to enhance the Equitable Origin and MiQ certification process, which includes the company’s entire operating field in North Central West Virginia. This will make NNE the first private equity backed natural gas company to certify its entire field through dual Equitable Origin and MiQ certifications.

“Our team has always focused on operating with the highest environmental standards in the industry and we have been exploring new technologies and certifications for several months,” said Mike John, CEO of Northeast Natural Energy. “We are eager to be the first company in the Marcellus to use the Avitas continuous monitoring system to complement the certification processes of Equitable Origin and MiQ.”

Avitas, a wholly owned subsidiary of Baker Hughes, provides cost effective, digitally enabled technologies that detect, locate, and quantify emissions via continuous monitoring and unmanned aerial systems. LUMEN Terrain’s low-cost continuous monitoring technology delivers real time, actionable data analytics, providing operators with the information they need to address emissions quickly and efficiently. This is the first time LUMEN Terrain will be used for certification.

“We are proud to partner with Northeast Natural Energy in their mission to provide differentiated, certified natural gas,” said Jason Roe, CEO of Avitas. “We believe continuous monitoring is an important solution to reducing emissions across all sectors of the oil and gas industry, and LUMEN Terrain continuous monitoring is best-in-class in terms of scalability, accuracy, and reliability. This is another step forward in helping operators on their energy transition journey and a commitment from Baker Hughes in helping our customers reduce their emissions.”

Equitable Origin has a proven track record of certifying energy production on ESG indicators in accordance with its EO100™ Standard for Responsible Energy Development, a set of rigorous ESG performance targets for energy development projects. Equitable Origin approved assessors will evaluate NNE’s produced natural gas against the five principles of the EO100™ Standard, including corporate governance and ethics; social impacts, human rights and community engagement; Indigenous Peoples’ rights; occupational health & safety and fair labor standards; and environmental impacts, biodiversity and climate change.

Soledad Mills, CEO, Equitable Origin commented: “NNE is a forward-thinking company with a commitment to operating to high standards. We are very excited to be working with them to help them demonstrate their socially and environmentally responsible practices through independent certification.”

MiQ, a non-profit partnership between RMI and SYSTEMIQ, is pioneering a market-based approach to rapidly reduce methane emissions across the natural gas sector. Its quantitative certification standard – the MiQ Standard – factors in methane intensity, company practices, and methane detection. The MiQ Standard embodies a commitment to transparency, accountability, technology independence, and granularity.

Georges Tijbosch, Senior Adviser, MiQ, said: “This is our second project with Equitable Origin in as many weeks and we are delighted to see there is demand and momentum behind certification for natural gas based on ESG and methane emissions. Methane abatement in the oil and gas sector is an urgent and vital action in the fight against climate change. The commitment made by NNE and others to diligently monitor and abate methane – which has 84x the global warming potential of CO₂ – is a big step in the right direction.”

Equitable Origin and MiQ’s performance standards require specialized independent, third-party assessments. NNE has selected Responsible Energy Solutions to audit its natural gas production against the Equitable Origin and MiQ standards.

NNE anticipates that the certified natural gas, sometimes referred to as responsibly sourced gas, will be available by the fourth quarter of 2021.

Notes to Editor

About Northeast Natural Energy:

Northeast Natural Energy is a privately owned company founded in 2009 which is headquartered in Charleston, WV with operations focused exclusively on dry natural gas production in north central West Virginia. NNE’s homegrown team of talented professionals are forward thinking and believe hard work and honest and open communications are the key to success in West Virginia. Visit us at northeastnaturalenergy.com

About Baker Hughes:

Baker Hughes (NYSE: BKR) is an energy technology company that provides solutions for energy and industrial customers worldwide. Built on a century of experience and with operations in over 120 countries, our innovative technologies and services are taking energy forward – making it safer, cleaner, and more efficient for people and the planet. Visit us at bakerhughes.com.

About MiQ:

MiQ has developed a universally applicable certification standard for credibly assessing the methane performance of natural gas production around the world. The standard is independent, third-party audited, quantitative, and graded across a sliding A-F scale based on three metrics: methane intensity, company practices, and methane detection technology deployment. MiQ’s Certification scheme is designed to improve transparency about methane emissions and provide the backbone for a level playing field across the global natural gas market.

An MiQ Certificate represents the methane emissions performance attributes of a specified portion of natural gas. To prevent double-counting MiQ maintains a registry of all MiQ Certificates from Issuance through to Retirement. Visit miq.org/certification for more information.

About Equitable Origin:

Equitable Origin is a non-profit organization that created the first market-based mechanism to recognize and reward responsible energy producers and to empower energy purchasers through independent, site-level certification. The EO100™ Standard for Responsible Energy Development is grounded in a set of comprehensive, globally applicable ESG indicators developed with extensive stakeholder input. Certification against the EO100™ Standard promotes best practices and drives improvements in ESG performance while enabling a market for differentiated energy production. To learn more visit energystandards.org.

Media Relations

NNE, Matt Sheppard
+1 717-675-0264
Sheppard Communication Strategies
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MiQ, Equitable Origin
Callum Heckstall-Smith
+44 7860 534336
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First Quarter 2021 Highlights:

• Net income was $159.6 million. Net cash provided by operating activities was $165.4 million.
• Net income attributable to Hess Midstream LP was $8.6 million, or $0.45 per Class A share, after deduction for noncontrolling interests.
• Adjusted EBITDA¹ was $226.7 million, Distributable Cash Flow¹ was $204.6 million and Adjusted Free Cash Flow¹ was $182.2 million.
• Increased quarterly cash distribution to $0.4526 per Class A share, an increase of 1.2% compared with the fourth quarter of 2020 and 5% on an annualized basis, resulting in a 1.6x coverage ratio relative to distributions.
• Hess Midstream LP is targeting annual distribution per share growth of at least 5% through 2023 with expected annual distribution coverage greater than 1.4x.
• Hess Midstream LP is reaffirming its previously announced guidance for full year 2021.

HOUSTON--(BUSINESS WIRE)--$HESM--Hess Midstream LP (NYSE: HESM) (“Hess Midstream”) today reported first quarter 2021 net income of $159.6 million compared with net income of $129.0 million for the first quarter of 2020. After deduction for noncontrolling interests, net income attributable to Hess Midstream was $8.6 million, or $0.45 per Class A share. Hess Midstream generated Adjusted EBITDA of $226.7 million. Distributable Cash Flow (“DCF”) for the first quarter of 2021 was $204.6 million and Adjusted Free Cash Flow was $182.2 million.

“We continue to advance projects that will significantly expand our gas capture capability further positioning us for long-term organic growth,” said John Gatling, President and Chief Operating Officer of Hess Midstream. “With 95% revenue protection from minimum volume commitments through 2022, we are uniquely positioned to deliver continued growth in Adjusted EBITDA, adjusted free cash flow and distributions with low leverage and downside contract protection.”

Hess Midstream’s results contained in this release are consolidated to include the noncontrolling interests in Hess Midstream Operations LP owned by affiliates of Hess Corporation (“Hess”) and Global Infrastructure Partners (“GIP”). We refer to certain results as “attributable to Hess Midstream LP,” which exclude the noncontrolling interests in Hess Midstream Operations LP owned by Hess and GIP.

______________________________
¹ Adjusted EBITDA, Distributable Cash Flow and Adjusted Free Cash Flow are non-GAAP measures. Definitions and reconciliations of these non-GAAP measures to GAAP reporting measures appear in the following pages of this release.

Financial Results

Revenues and other income in the first quarter of 2021 were $288.8 million compared with $290.8 million in the prior-year quarter. First quarter 2021 revenues included $18.8 million of pass-through rail transportation, electricity, produced water trucking and disposal costs and $13.4 million of shortfall fee payments related to minimum volume commitments compared with $49.3 million and $1.0 million, respectively, in the prior-year quarter. Excluding pass-through revenues, first quarter 2021 revenues and other income were up $28.5 million compared to the prior-year quarter primarily due to higher tariff rates. Total costs and expenses in the first quarter of 2021 were $106.3 million down from $138.0 million in the prior-year quarter. The decrease was primarily attributable to lower pass-through transportation costs.

Net income for the first quarter of 2021 was $159.6 million, or $0.45 per Class A share, after deduction for noncontrolling interests. Substantially all of income tax expense is attributed to earnings of Class A shares reflective of our organizational structure. Net cash provided by operating activities for the first quarter of 2021 was $165.4 million.

Adjusted EBITDA for the first quarter of 2021 was $226.7 million. Relative to distributions, DCF for the first quarter of 2021 of $204.6 million resulted in an approximately 1.6x distribution coverage ratio. Adjusted Free Cash Flow for the first quarter of 2021 was $182.2 million.

Operational Highlights

Throughput volumes decreased 23% for crude oil terminaling and 22% for crude oil gathering in the first quarter of 2021 compared with the first quarter of 2020 due to reduced drilling activity and the impact of severe winter weather. Throughput volumes decreased 6% for gas gathering and gas processing in the first quarter of 2021 compared with the first quarter of 2020 driven by lower third-party volumes, partially offset by higher gas capture of Hess volumes. The impact of the reduction in physical volumes in the first quarter of 2021 compared to the first quarter of 2020 was offset by higher tariff rates and shortfall fee payments related to minimum volume commitments. Water gathering volumes increased 30% compared with the year-ago quarter reflecting continued steady organic growth of our water handling business. Third parties comprised approximately 15% of crude oil gathering and 10% of gas gathering volumes for the first quarter of 2021. Hess added a second operated rig in the Bakken in February 2021.

Capital Expenditures

Capital expenditures for the first quarter of 2021 totaled $23.1 million, including $22.4 million of expansion capital expenditures and $0.7 million of maintenance capital expenditures, and were primarily attributable to continued expansion of our gathering and compression capacity. Capital expenditures in the prior-year quarter were $57.0 million, including $55.3 million of expansion capital expenditures and $1.7 million of maintenance capital expenditures, and were primarily attributable to construction and fabrication activities for the Tioga Gas Plant expansion.

Quarterly Cash Distributions

On April 23, 2021, our general partner’s board of directors declared a cash distribution of $0.4526 per Class A share for the first quarter of 2021, an increase of 1.2% over the distribution for the prior quarter, which equals a 5% increase on an annualized basis. The distribution is expected to be paid on May 13, 2021 to shareholders of record as of the close of business on May 3, 2021.

Guidance

Hess Midstream is targeting annual distribution per share growth of at least 5% through 2023 with expected annual distribution coverage greater than 1.4x. In 2021 and 2022, Hess Midstream expects revenues that are 95% protected by minimum volume commitments. Hess Midstream reaffirms its previously announced guidance for full year 2021 as follows:

Investor Webcast

Hess Midstream will review first quarter financial and operating results and other matters on a webcast today at 12:00 p.m. Eastern Time. The live audio webcast is accessible on the Investor page of our website www.hessmidstream.com. Conference call numbers for participation are 866-395-9624, or 213-660-0871 for international callers. The passcode number is 6996363. A replay of the conference call will be available at the same location following the event.

About Hess Midstream

Hess Midstream LP is a fee-based, growth-oriented midstream company that operates, develops and acquires a diverse set of midstream assets to provide services to Hess and third-party customers. Hess Midstream owns oil, gas and produced water handling assets that are primarily located in the Bakken and Three Forks Shale plays in the Williston Basin area of North Dakota. More information is available at www.hessmidstream.com.

Reconciliation of U.S. GAAP to Non-GAAP Measures

In addition to our financial information presented in accordance with U.S. generally accepted accounting principles (“GAAP”), management utilizes certain additional non‑GAAP measures to facilitate comparisons of past performance and future periods. “Adjusted EBITDA” presented in this release is defined as reported net income (loss) before net interest expense, income tax expense, depreciation and amortization and our proportional share of depreciation of our equity affiliates, as further adjusted to eliminate the impact of certain items that we do not consider indicative of our ongoing operating performance, such as transaction costs, other income and other non-cash, non-recurring items, if applicable. “Distributable Cash Flow” or “DCF” is defined as Adjusted EBITDA less net interest, excluding amortization of deferred financing costs, cash paid for federal and state income taxes and maintenance capital expenditures. DCF does not reflect changes in working capital balances. We define “Adjusted Free Cash Flow” as DCF less expansion capital expenditures and ongoing contributions to equity investments. We believe that investors’ understanding of our performance is enhanced by disclosing these measures as they may assist in assessing our operating performance as compared to other publicly traded companies in the midstream energy industry, without regard to historical cost basis or, in the case of Adjusted EBITDA, financing methods, and assessing the ability of our assets to generate sufficient cash flow to make distributions to our shareholders. These measures are not, and should not be viewed as, a substitute for GAAP net income or cash flow from operating activities and should not be considered in isolation. Reconciliations of Adjusted EBITDA, DCF and Adjusted Free Cash Flow to reported net income (GAAP) and net cash provided by operating activities (GAAP), are provided below. Hess Midstream is unable to project net cash provided by operating activities with a reasonable degree of accuracy because this metric includes the impact of changes in operating assets and liabilities related to the timing of cash receipts and disbursements that may not relate to the period in which the operating activities occur. Therefore, Hess Midstream is unable to provide projected net cash provided by operating activities, or the related reconciliation of projected Adjusted Free Cash Flow to projected net cash provided by operating activities without unreasonable effort.

(1) Excludes amortization of deferred financing costs.
(2) Adjusted Free Cash Flow as reported in this release reflects Hess Midstream’s definition of Adjusted Free Cash Flow, which is DCF less expansion capital expenditures and ongoing contributions to equity investments, adopted in the fourth quarter of 2020 to conform to definitions used by other publicly traded midstream energy companies. Prior period calculations of Adjusted Free Cash Flow have been recast to conform to the new presentation, as applicable.

Cautionary Note Regarding Forward-looking Information

This press release contains “forward-looking statements” within the meaning of U.S. federal securities laws. Words such as “anticipate,” “estimate,” “expect,” “forecast,” “guidance,” “could,” “may,” “should,” “would,” “believe,” “intend,” “project,” “plan,” “predict,” “will,” “target” and similar expressions identify forward-looking statements, which are not historical in nature. Our forward-looking statements may include, without limitation: our future financial and operational results; our business strategy; our industry; our expected revenues; our future profitability; our maintenance or expansion projects; our projected budget and capital expenditures and the impact of such expenditures on our performance; and future economic and market conditions in the oil and gas industry.

Forward-looking statements are based on our current understanding, assessments, estimates and projections of relevant factors and reasonable assumptions about the future. Forward-looking statements are subject to certain known and unknown risks and uncertainties that could cause actual results to differ materially from our historical experience and our current projections or expectations of future results expressed or implied by these forward-looking statements. The following important factors could cause actual results to differ materially from those in our forward-looking statements: the direct and indirect effects of the COVID-19 global pandemic and other public health developments on our business and those of our business partners, suppliers and customers, including Hess; the ability of Hess and other parties to satisfy their obligations to us, including Hess’ ability to meet its drilling and development plans on a timely basis or at all and the operation of joint ventures that we may not control; our ability to generate sufficient cash flow to pay current and expected levels of distributions; reductions in the volumes of crude oil, natural gas, natural gas liquids (“NGLs”) and produced water we gather, process, terminal or store; fluctuations in the prices and demand for crude oil, natural gas and NGLs, including as a result of the COVID-19 global pandemic; changes in global economic conditions and the effects of a global economic downturn on our business and the business of our suppliers, customers, business partners and lenders; our ability to comply with government regulations or make capital expenditures required to maintain compliance, including our ability to obtain or maintain permits necessary for capital projects in a timely manner, if at all, or the revocation or modification of existing permits; our ability to successfully identify, evaluate and timely execute our capital projects, investment opportunities and growth strategies, whether through organic growth or acquisitions; costs or liabilities associated with federal, state and local laws, regulations and governmental actions applicable to our business, including legislation and regulatory initiatives relating to environmental protection and safety, such as spills, releases, pipeline integrity and measures to limit greenhouse gas emissions; our ability to comply with the terms of our credit facility, indebtedness and other financing arrangements, which, if accelerated, we may not be able to repay; reduced demand for our midstream services, including the impact of weather or the availability of the competing third-party midstream gathering, processing and transportation operations; potential disruption or interruption of our business due to catastrophic events, such as accidents, severe weather events, labor disputes, information technology failures, constraints or disruptions and cyber-attacks; any limitations on our ability to access debt or capital markets on terms that we deem acceptable, including as a result of weakness in the oil and gas industry or negative outcomes within commodity and financial markets; liability resulting from litigation; and other factors described in Item 1A—Risk Factors in our Annual Report on Form 10-K and any additional risks described in our other filings with the Securities and Exchange Commission.

As and when made, we believe that our forward-looking statements are reasonable. However, given these risks and uncertainties, caution should be taken not to place undue reliance on any such forward-looking statements since such statements speak only as of the date when made and there can be no assurance that such forward-looking statements will occur and actual results may differ materially from those contained in any forward-looking statement we make. Except as required by law, we undertake no obligation to publicly update or revise any forward-looking statements, whether because of new information, future events or otherwise.

For Hess Midstream LP

Investor Contact:
Jennifer Gordon
(212) 536-8244

Media Contact:
Robert Young
(713) 496-6076

SAN JOSE, Calif.--(BUSINESS WIRE)--Bloom Energy, a leading provider of distributed energy solutions, today announced the appointment of Stephan Reimelt to its international leadership team to strengthen the company’s expansion efforts, enhance competitive positioning and support deployment of its fuel-flexible, clean energy technology in Germany.

Mr. Reimelt brings a wide range of industry and entrepreneurial experience from the world’s leading energy companies, including his tenure as DACH CEO and President at General Electric, where he has led successful business transformations and accelerated organizational growth. He is also an engineering professor at the Technical University of Berlin.

Mr. Reimelt will report to Bloom Energy’s executive vice president, international business, Azeez Mohammed.

“We are thrilled to welcome Stephan to Bloom,” said Azeez Mohammed. “He brings vast experience as well as valuable perspectives and relationships that will help German organizations reduce carbon emissions, enhance resiliency and chart a path toward a net-zero carbon future.”

Bloom Energy’s fuel-flexible, non-combustion fuel cells use biogas and hydrogen, in addition to natural gas, to create electricity at significantly higher efficiencies than traditional, combustion-based resources. In addition, Bloom Energy’s technology can be used to create hydrogen, which is increasingly recognized as a critically important tool necessary for the full decarbonization of the energy economy.

About Bloom Energy

Bloom Energy’s mission is to make clean, reliable energy affordable for everyone in the world. The company’s product, the Bloom Energy Server, delivers highly reliable and resilient, always-on electric power that is clean, cost-effective, and ideal for microgrid applications. Bloom’s customers include many Fortune 100 companies and leaders in manufacturing, data centers, healthcare, retail, higher education, utilities, and other industries. For more information, visit www.bloomenergy.com.

Cautionary Note Regarding Forward-Looking Statements

This press release contains forward-looking statements within the meaning of the U.S. federal securities laws that involve risks and uncertainties. These statements should not be taken as guarantees of results and should not be considered an indication of future activity or future performance. Actual events or results may differ materially from those described in this press release due to a number of risks and uncertainties as detailed in Bloom’s periodic SEC filings. Bloom undertakes no obligation to revise or publicly update any forward-looking statements unless if and as required by law.

Media:
Jennifer Duffourg
Bloom Energy
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Funding to support and accelerate the design, engineering, and demonstration of FreeWire’s next-generation EV charging technology

SAN LEANDRO, Calif.--(BUSINESS WIRE)--FreeWire Technologies, a leader in electric vehicle (EV) charging and power solutions, today announced that the Company has been awarded a $3,468,490 grant from the California Energy Commission (CEC) to advance its next-generation EV charging product, Boost Charger™.

The grant resulted from CEC’s competitive solicitation titled “BRIDGE 2020: Bringing Rapid Innovation Development to Green Energy” to fund continued technology development, demonstration and deployment for the most promising energy technologies. FreeWire will utilize the grant to further advance grid services functionality of the Company’s Boost Charger and demonstrate enhanced ultrafast charging with energy storage at two project sites, including one in an under-resourced community.

FreeWire’s Boost Charger integrates battery storage with advanced communication and control technologies and power electronics to provide an ultra-fast EV charging technology product that will streamline installation of DC Fast Chargers, respond to grid conditions, and provide power for EV drivers during grid outages.

The grant will provide add-on funding to support and accelerate the design, engineering, and demonstration of FreeWire’s advanced, storage- and grid-integrated EV fast charger. Further advancements in the Boost Charger system will provide key resiliency benefits to EV users and ratepayers that include renewables load balancing, battery-based charging capacity even when the grid goes down, microgrid storage and backup, reduced grid congestion, reduced demand charges, reduced infrastructure requirements, and other grid and resiliency services. Boost Charger’s expanded grid service offerings create resiliency for charging applications, allowing electric fleets to recharge and supporting other critical facilities such as gas stations when power is out.

“We are pleased to receive this CEC grant which will support FreeWire’s ongoing technological advancements and breakthroughs to overcome barriers to achieving California’s energy goals by adding new grid-oriented and resiliency services to our Boost Charger EV charger systems,” said Arcady Sosinov, Founder and Chief Executive Officer of FreeWire Technologies. “With the growth of EVs and charging demand, reliability concerns have risen to the forefront as California’s utilities and grid managers work to balance electricity load and supply. Our CEC grant will support new advancements to our Boost Charger technology that will facilitate the rapid scale up of ultra-fast EV charging, delivering high power everywhere without expensive and burdensome grid upgrades.”

The project will specifically add the following advancements to FreeWire’s Boost Charger: 1) Resilient EV charging even when grid power is unavailable; 2) Backup supply to power on-site loads as a microgrid; 3) On-site power demand management to reduce the overall energy costs for a Site Host; 4) Direct integration with on-site renewable sources, such as solar, to increase the efficiency of the solar plus storage system and reduce its total cost; 5) Bi-directional power flow to support charger-to-grid power flow; and 6) Utility integration to support demand response, grid load balancing and other grid services.

FreeWire’s Boost Charger is a powerful battery-integrated electric vehicle charger that delivers high power while significantly reducing demand charges. Easy to connect with existing infrastructure, it can be set up without costly construction or extensive permitting. Boost Charger enables ultrafast charging using the same infrastructure as Level 2 chargers at up to a 40% lower cost of installation versus other fast chargers. With its integrated storage and ultrafast charging speeds, Boost Charger is ready for current and next-generation EVs.

About FreeWire Technologies
FreeWire's turnkey power solutions deliver energy whenever and wherever it's needed for reliable electrification beyond the grid. With scalable clean power that moves to meet demand, FreeWire customers can tackle new applications and deploy new business models without the complexity of upgrading traditional energy infrastructure.

FreeWire has deployed over 200 battery-integrated chargers with Fortune 100 companies, commercial customers, fleets, retail locations, and gas stations. In December 2020, FreeWire and bp pulse, one of the UK’s leading providers of EV charging infrastructure, announced an exclusive MOU for bp pulse to deploy Boost Charger in its operations across the UK. FreeWire and ampm, a bp subsidiary and convenience store chain with over 1,000 locations, have already deployed multiple public charging stations in the U.S.

In January 2021, FreeWire announced a $50 million Series C funding round, led by Riverstone Holdings, with participation from current shareholders bp ventures, Energy Innovation Capital, and Blue Bear Capital. This financing will enable FreeWire to accelerate international market expansion of Boost Charger and expand production capacity to meet unprecedented customer demand.

Learn more at www.freewiretech.com.

Cory Ziskind
ICR
646-277-1232
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SAN JOSE, Calif.--(BUSINESS WIRE)--Bloom Energy, a leading provider of distributed energy solutions, today announced the appointment of Philippe Cochet and Yves Rannou to its international leadership team to strengthen the company’s expansion efforts, enhance competitive positioning and support deployment of its fuel-flexible, clean energy technology across Europe.

Mr. Cochet will advise Bloom Energy’s commercial strategy across Europe. His career in business leadership, production and manufacturing spans more than two decades, including senior leadership positions at the world’s leading energy and technology companies such as General Electric and Alstom.

Mr. Rannou is a seasoned business leader with a proven track record for driving growth, turnarounds and restructuring at international businesses in the renewables industry such as Senvion, Alstom and General Electric.

Mr. Cochet and Mr. Rannou will respectively advise and lead Bloom Energy’s commercial strategy across Europe, with an initial focus on France, Italy, Spain and Portugal. They will report to Bloom Energy’s executive vice president, international business, Azeez Mohammed.

“We are thrilled to welcome Philippe and Yves to Bloom Energy,” said Azeez Mohammed. “They bring vast experience as well as valuable perspectives and relationships that will help European organizations reduce carbon emissions, enhance resiliency and chart a path toward a net-zero carbon future.”

Bloom Energy’s technology is the most advanced thermal electric generation technology on the market today. Bloom Energy’s fuel-flexible, non-combustion fuel cells use biogas and hydrogen, in addition to natural gas, to create electricity at significantly higher efficiencies than traditional, combustion-based resources. In addition, Bloom Energy’s technology can be used to create hydrogen, which is increasingly recognized as a critically important tool necessary for the full decarbonization of the energy economy.

About Bloom Energy

Bloom Energy’s mission is to make clean, reliable energy affordable for everyone in the world. The company’s product, the Bloom Energy Server, delivers highly reliable and resilient, always-on electric power that is clean, cost-effective, and ideal for microgrid applications. Bloom’s customers include many Fortune 100 companies and leaders in manufacturing, data centers, healthcare, retail, higher education, utilities, and other industries. For more information, visit www.bloomenergy.com.

Cautionary Note Regarding Forward-Looking Statements

This press release contains forward-looking statements within the meaning of the U.S. federal securities laws that involve risks and uncertainties. These statements should not be taken as guarantees of results and should not be considered an indication of future activity or future performance. Actual events or results may differ materially from those described in this press release due to a number of risks and uncertainties as detailed in Bloom’s periodic SEC filings. Bloom undertakes no obligation to revise or publicly update any forward-looking statements unless if and as required by law.

Jennifer Duffourg
Bloom Energy
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HOUSTON--(BUSINESS WIRE)--Waste Management, Inc. (NYSE: WM) (“Waste Management”) announced today that it, together with its wholly owned subsidiary, Waste Management Holdings, Inc. (“WMH” and, together with Waste Management, the “Offerors”), has commenced offers to purchase for cash (collectively, the “Offer”) up to $950 million aggregate principal amount of the senior notes listed in the table below (collectively, the “Notes”).

The Offerors will prorate the Notes accepted for purchase pursuant to the Offer pursuant to the Acceptance Priority Procedures described herein and will accept for purchase Notes validly tendered and not validly withdrawn in the order set forth in the table below, beginning at the lowest numerical value first (the “Acceptance Priority Level”). The Offer is made upon the terms and subject to the conditions set forth in the offer to purchase dated April 28, 2021 (the “Offer to Purchase”), including the Financing Condition (as defined below). The Offer is not conditioned upon the tender of any minimum principal amount of Notes, but the Offerors will only purchase up to a maximum aggregate principal amount of $950 million of the Notes (the “Maximum Principal Amount”), subject to increase by the Offerors in their sole discretion. In this press release, Notes that have been validly tendered and not validly withdrawn are referred to as having been “validly tendered.”

* Refers to the first date such Notes may be redeemed at par prior to maturity (such applicable date, the “Par Call Date”).

The Offer will expire at 12:00 midnight, New York City time, at the end of May 25, 2021, unless extended (such time and date, as the same may be extended in the Offerors’ sole discretion, the “Expiration Time”) or earlier terminated by the Offerors. Holders of any Notes of any series who validly tender and do not validly withdraw their Notes at or prior to 5:00 p.m., New York City time, on May 11, 2021, unless extended (such time and date, as the same may be extended in the Offerors’ sole discretion, the “Early Tender Time”), will be eligible to receive the Total Consideration (as defined in the Offer to Purchase). The Total Consideration for each U.S. $1,000 principal amount of Notes of each series validly tendered and not validly withdrawn and accepted for purchase by the Offerors will be determined in the manner described in the Offer to Purchase, so as to result in a price as of the applicable Settlement Date (as defined below) based on a yield to the applicable Par Call Date or maturity date (in accordance with market practice) for the Notes of such series equal to the sum of the fixed spread listed in the table above for such series plus the yield based on the bid-side price of the applicable U.S. Treasury Reference Security listed in the table above for such series (the “Reference Treasury”), as quoted on the applicable page on the Bloomberg Bond Trader FIT1 or FIT4 series of pages, or any recognized quotation source selected by the dealer managers in their sole discretion if such quotation report is not available or manifestly erroneous, at 10:00 a.m., New York City time, on May 12, 2021, unless extended by the Offerors in their sole discretion. The Total Consideration, as calculated above, is inclusive of an early tender premium of $30 per U.S. $1,000 principal amount of Notes validly tendered and not validly withdrawn and accepted for purchase by the Offerors (the “Early Tender Premium”). Holders who validly tender their Notes after the Early Tender Time, but on or prior to the Expiration Time, will only be eligible to receive the Tender Consideration, which equals the Total Consideration minus the Early Tender Premium. Validly tendered Notes may be validly withdrawn in accordance with the terms of the Offer, at any time on or prior to 5:00 p.m., New York City time, on May 11, 2021, unless extended, but not thereafter, except as described in the Offer to Purchase or as required by applicable law.

In addition to the Total Consideration or the Tender Consideration, as applicable, holders whose Notes are validly tendered and accepted for purchase pursuant to the Offer will be paid any accrued and unpaid interest on the Notes from, and including, the last interest payment date to, but not including, the Early Settlement Date or the Final Settlement Date (each, a “Settlement Date”), as applicable. For the avoidance of doubt, the Offerors will not pay any accrued and unpaid interest on any Notes accepted for purchase in the Offer following the applicable Settlement Date.

If the purchase of all Notes validly tendered in the Offer would cause the Offerors to purchase an aggregate principal amount of Notes in excess of the Maximum Principal Amount, subject to the terms and conditions of the Offer, including the Financing Condition, the Offerors will prorate the Notes accepted in the Offer as described in the Offer to Purchase (such procedures, the “Acceptance Priority Procedures”):

• If the aggregate principal amount of all Notes validly tendered and not validly withdrawn in the Offer on or prior to the Early Tender Time exceeds the Maximum Principal Amount, then the Offer will be oversubscribed on the Early Tender Time, and (1) the Offerors will not accept for purchase any Notes tendered after the Early Tender Time, and (2) the Offerors will (assuming satisfaction or, where applicable, the waiver of the conditions to the Offer) accept for purchase on the Early Acceptance Date (or, if there is no Early Acceptance Date, the Expiration Time) the maximum aggregate principal amount of Notes validly tendered and not validly withdrawn on or prior to the Early Tender Time as the Offerors can without exceeding the Maximum Principal Amount, on a pro rata basis as described below, in the order of the related Acceptance Priority Levels set forth in the table above (proceeding in ascending order from the lowest numerical value). If the aggregate principal amount of all validly tendered Notes of a series at one Acceptance Priority Level, when added to the aggregate principal amount of all Notes accepted for purchase at a higher Acceptance Priority Level (indicated by lower numerical value), does not exceed the Maximum Principal Amount, then the Offerors will accept for purchase all such tendered Notes of such series. If acceptance of all validly tendered Notes of a series at one Acceptance Priority Level, when added to the aggregate principal amount of all Notes accepted for purchase at a higher Acceptance Priority Level, exceeds the Maximum Principal Amount, then the Offerors will accept for purchase on a pro rata basis such tendered Notes such that the Offerors do not exceed the Maximum Principal Amount. Tendered Notes with a lower Acceptance Priority Level (indicated by a higher numerical value) than the Acceptance Priority Level that results in the purchase of the Maximum Principal Amount will not be accepted for purchase.

• If the Offer is not fully subscribed as of the Early Tender Time, and the aggregate principal amount of all Notes validly tendered in the Offer on or prior to the Expiration Time exceeds the Maximum Principal Amount, then the Offerors will accept for purchase on a pro rata basis (as described in the paragraph above) the maximum aggregate principal amount of such Notes of such series tendered after the Early Tender Time and on or prior to the Expiration Time as we can without exceeding the Maximum Principal Amount. Tendered Notes with a lower Acceptance Priority Level (indicated by a higher numerical value) than the Acceptance Priority Level that results in the purchase of the Maximum Principal Amount will not be accepted for purchase.

• If the Offer is not fully subscribed as of the Early Tender Time, Notes tendered on or before the Early Tender Time will be accepted for purchase in priority to Notes tendered after the Early Tender Time, even if such Notes tendered after the Early Tender Time have a higher Acceptance Priority Level.

Notwithstanding any other provision of the Offer, the obligation of the Offerors to accept for purchase, and to pay for, any Notes validly tendered is further subject to, and conditioned upon, the successful completion (in the Offerors’ reasonable opinion) of the issuance of new senior notes designed to raise sufficient funds to purchase all Notes validly tendered, subject to the Maximum Principal Amount, and accepted for purchase by the Offerors and to pay all fees and expenses in connection with the Offer (the “Financing Condition”), together with cash on hand, if necessary, unless the Offerors (in their sole discretion) elect to waive the Financing Condition. The terms of such financing will be determined by market conditions and other factors at the time it occurs. No assurances can be given that the Offerors will in fact complete such financing. Consummation of the Offer is expressly contingent upon, among other things, the Offerors obtaining such financing on terms satisfactory to the Offerors.

Waste Management has retained Credit Suisse Securities (USA) LLC, Goldman Sachs & Co. LLC and Wells Fargo Securities, LLC to serve as the dealer managers for the Offer and Global Bondholder Services Corporation to serve as tender and information agent for the Offer. The full details of the Offer, including complete instructions on how to tender Notes, are included in the Offer to Purchase. Holders of Notes are strongly encouraged to carefully read the Offer to Purchase, including materials incorporated by reference therein, because they will contain important information. Requests for the Offer to Purchase and any related supplements may also be directed to Global Bondholder Services Corporation by telephone at (212) 430-3774 (banks and brokers) or (866) 470-3700 (toll free) or email at This email address is being protected from spambots. You need JavaScript enabled to view it.. A copy of the Offer to Purchase is also available at the following web address: https://www.gbsc-usa.com/wm/. Questions about the Offer may be directed to Credit Suisse Securities (USA) LLC by telephone at (800) 820-1653 (toll free) or (212) 325-7823 (collect), to Goldman Sachs & Co. LLC by telephone at (800) 828-3182 (toll free) or (212) 357-1452 (collect) or via email at This email address is being protected from spambots. You need JavaScript enabled to view it., and to Wells Fargo Securities, LLC by telephone at (866) 309-6316 (toll free) or (704) 410-4759 (collect) or via email at This email address is being protected from spambots. You need JavaScript enabled to view it..

This press release is for informational purposes only and is neither an offer to purchase nor a solicitation of an offer to sell any securities. The Offer is being made only by, and pursuant to the terms of, the Offer to Purchase. The Offer is not being 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 Offer to be made by a licensed broker or dealer, the Offer will be made by the dealer managers on behalf of the Offerors. In addition, this press release is not an offer to sell or the solicitation of an offer to purchase any securities issued in connection with any contemporaneous senior notes offering, nor shall there be any sale of the securities issued in such offering in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction. Any such securities will be offered only by means of a prospectus, including a prospectus supplement and any related free writing prospectus relating to such securities, meeting the requirements of Section 10 of the Securities Act of 1933, as amended.

None of the Offerors, the tender and information agent, the dealer managers or the trustee with respect to the Notes, nor any of their affiliates, makes any recommendation as to whether holders should tender or refrain from tendering all or any portion of their Notes in response to the Offer. None of the Offerors, the tender and information agent, the dealer managers or the trustee with respect to the Notes, nor any of their affiliates, has authorized any person to give any information or to make any representation in connection with the Offer other than the information and representations contained in the Offer to Purchase.

ABOUT WASTE MANAGEMENT

Waste Management, based in Houston, Texas, is the leading provider of comprehensive waste management environmental services in North America, providing services throughout the United States and Canada. Through its subsidiaries, the Company provides collection, transfer, disposal services, and recycling and resource recovery. It is also a leading developer, operator and owner of landfill gas-to-energy facilities in the United States. The Company’s customers include residential, commercial, industrial, and municipal customers throughout North America.

FORWARD-LOOKING STATEMENT

This press release contains forward-looking statements that involve risks and uncertainties. Factors that could cause actual results to differ materially from those expressed or implied by the forward-looking statements in this press release are discussed in Waste Management’s most recent Annual Report on Form 10-K and subsequent reports on Form 10-Q.

Waste Management

Analysts & Media
Ed Egl
713.265.1656
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TAIPEI, Taiwan--(BUSINESS WIRE)--To realize a more convenient, beautiful, and comfortable life for all, the promotion of smart cities has long been a crucial part of construction projects actively promoted by governments across the globe. At the heart of smart cities is the integration of AIoT technologies. Combining human-machine interfaces (HMIs), sensors, embedded computers, networks, and AI data analysis, these technologies provide the tools to assess public infrastructure needs, thereby improving the quality of life and safety of all citizens.

Outdoor kiosks are the visible human-machine interface for the smart city. Cincoze's CRYSTAL line includes industrial panel PCs with sunlight-readable displays in various sizes and with a modular design. The sunlight-readable display models feature crystal clear displays for bright daylight viewing and are strong enough to withstand the rigors of the outdoors. They are suited to outdoor kiosk use in smart cities, such as smart bus kiosks, automatic ticket vending machines, vending machines, express cabinets, public information stations, and smart mailboxes.

Mix-and-Match From Numerous Options

The Cincoze sunlight-readable panel PC series uses Cincoze's patented Convertible Display System (CDS) modular design to combine an industrial touch display and an industrial embedded computer module to create an easy-maintenance, easy-upgrade, and future-proof panel PC.

The embedded system component offers various options including, Intel® Atom®, Pentium®, and Core™ i3/i5 CPUs, up to 64 GB of memory, and 2x 2.5" HDD/SSD, selectable to match perfectly with system performance needs. For the display, there are options from 8" to 21.5" with projective capacitive (PCAP) touch displays, and high-brightness 1600 nits backlight that make them clearly visible even under outdoor sunlight.

Rich I/O for Multiple Applications

Specific I/O requirements for outdoor kiosks vary between applications and between installation environments. The Cincoze range of sunlight-readable panel PCs have the most commonly needed I/O connections right out the box, including USB 3.0, COM, and GbE LAN, to connect to devices like barcode readers, cameras, and card readers. For specialized applications, there is an M.2 E key and two full-size mini-PCIe slots for wireless connectivity modules or any of Cincoze's exclusive mini-PCIe expansion card (MEC) modules for additional COM, USB, and LAN ports.

Withstands the Extremes

Outdoor environments are unpredictable, and exposure to dust, storms, thunderstorms, or severe temperature changes can wreak havoc with the system at any time. To ensure uninterrupted operation, the sunlight-readable panel PCs can withstand a temperature range of -20℃ to 70℃, and the front panel is waterproof and dustproof with an IP65 rating. The super-hard 7H touch surface is scratch-resistant and tough enough to withstand heavy impacts.

Cincoze's sunlight-readable panel PCs are part of the premier CRYSTAL series lineup, combining flexible and robust design with a wealth of I/O and multiple expansion options, they can support the full spectrum of outdoor kiosk applications to help realize the dream of a better and more convenient smart city.

About Cincoze

Cincoze is an embedded industrial computer brand providing diversified embedded system solutions tailored to market needs. Its product lines include rugged embedded systems, industrial panel PCs, industrial displays, and GPU embedded systems. Cincoze products meet various vertical markets' application needs, especially factory automation, mechanical automation, machine vision, AIoT, robotics, in-vehicle computing, smart transportation, smart warehousing, and logistics. Over the years, Cincoze has launched many innovative products and won several patents, awards and international certifications.

Press Contact
Julia Hsiao
Phone: +886-2-2918-8055 ext.1258
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www.cincoze.com

Positioning based on Navisphere Vision’s completeness of vision and ability to execute

EDEN PRAIRIE, Minn.--(BUSINESS WIRE)--#supplychainvisibility--Global logistics company C.H. Robinson announced its recognition as a Challenger in the new Gartner Magic Quadrant for Real-Time Transportation Visibility Platforms* (RTTVP). Faced with multiple disruptions from the global pandemic, trade and tariff disputes, severe weather, capacity shortages, and a trade lane blockage, shippers are prioritizing and investing in RTTVP solutions like C.H. Robinson’s Navisphere Vision to improve their resiliency, connectivity, and performance.

Gartner, the world’s leading research and advisory company that publishes the annual series of market data known as Magic Quadrant, reports “the RTTVP market doubled in size in North American in 2020. This growth was accelerated due to the supply chain disruptions created by the pandemic.”

Navisphere Vision, delivered by TMC, a division of C.H. Robinson, helps shippers track, monitor, and respond to supply chain disruptions on a global scale. As a software-as-a-service (SaaS) platform, Navisphere Vision connects and pulls data from shippers’ third-party providers, carriers, and suppliers—plus weather, traffic, and geopolitical monitoring sources—to deliver real-time visibility and insights to inventory at-rest or in-motion, across all modes and regions. With Navisphere Vision’s Internet of Things (IoT) device integrations, customers can monitor and immediately mitigate issues when shipments are impacted by shock, tilt, humidity, light, temperature, or pressure.

“Several major events over the past year have emphasized the vital importance of supply chains, but also highlighted their fragility in some cases,” said Jordan Kass, president of TMC. “The companies who will excel in the years to come will be those with real-time visibility into their supply chains. The ability to consume, combine and analyze data from growing number of integrations and data points will be essential for building a resilient, competitive, and profitable supply chain.”

C.H. Robinson (TMC) was also recognized as a Challenger in the 2021 Gartner Magic Quadrant for Transportation Management Systems.

“We believe these recognitions reinforce the power of our innovative technology, built by and for supply chain experts, backed by the experience and scale of one of the world’s most-connected platforms,” said Kass.

To expand on these capabilities, the company previously announced a commitment to invest $1 billion in technology over the next five years, doubling its previous investment.

A complimentary copy of the Magic Quadrant for Real-Time Transportation Visibility Platforms is available here.

* Gartner, Magic Quadrant for Real-Time Transportation Visibility Platforms, Bart De Muynck, Carly West, 14 April 2021

Gartner Disclaimer

Gartner does not endorse any vendor, product or service depicted in its research publications, and does not advice technology users to select only those vendors with the highest ratings or other designation. Gartner research publications consist of the opinions of Gartner’s research organization and should not be construed as statements of fact. Gartner disclaims all warranties, expressed or implied, with respect to this research, including any warranties of merchantability or fitness for a particular purpose.

About C.H. Robinson

C.H. Robinson solves logistics problems for companies across the globe and across industries, from the simple to the most complex. With $21 billion in freight under management and 19 million shipments annually, we are one of the world’s largest logistics platforms. Our global suite of services accelerates trade to seamlessly deliver the products and goods that drive the world’s economy. With the combination of our multi-modal transportation management system and expertise, we use our information advantage to deliver smarter solutions for our more than 105,000 customers and 73,000 contract carriers. Our technology is built by and for supply chain experts to bring faster, more meaningful improvements to our customers’ businesses. As a responsible global citizen, we are also proud to contribute millions of dollars to support causes that matter to our company, our Foundation and our employees. For more information, visit www.chrobinson.com (Nasdaq: CHRW).

About TMC, a division of C.H. Robinson

Global supply chains are growing increasingly complex. Businesses need the latest technology and industry expertise to advance and stay ahead of the competition. At TMC, a division of C.H. Robinson, we understand what makes supply chains faster, stronger, and more efficient. As a leader in global logistics management, we combine industry expertise with our global technology platform, Navisphere®, to support the world’s most complex supply chains. Our logistics experts are located in Control Tower® locations around the world: Amsterdam, Chicago, Monterrey, São Paulo, Seattle, Shanghai, and Wrocław. This Control Tower® network, supported by our technology platform, connects our customers to their suppliers and supply chain partners. Our customers leverage these capabilities to manage their logistics in over 170 countries across all modes of transportation. For more information, visit www.mytmc.com.

Kylie Crull
612-719-1723
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George Millas joins EPIC Midstream as Chief Commercial Officer

SAN ANTONIO--(BUSINESS WIRE)--EPIC Midstream Holdings, LP (“EPIC” or “the Company”) today announced George Millas has joined EPIC as the Chief Commercial Officer effective April 19, 2021. He will report to Brian Freed, the Company’s Chief Executive Officer.

“I am pleased to welcome George to the leadership team of EPIC,” said Mr. Freed. “He brings tremendous commercial and business development experience to our company. George will be key in expanding EPIC’s current customer base while we continue to deliver best in class long haul transportation of crude oil and natural gas liquids out of the Permian Basin.”

Mr. Millas’ career has spanned across all aspects of commercial, trading and business development activities for midstream companies. Prior to joining EPIC, he served as a Vice President for Energy Transfer in charge of all commercial gathering and processing in the Permian Basin. Prior to Energy Transfer, George served as a Vice President at Crestwood Equity Partners where he led the business development group. Mr. Millas began his trading and business development career with Shell Trading.

Mr. Millas graduated Summa Cum Laude from Texas A&M University with a Bachelor of Science in Electrical Engineering and holds a Master of Business Administration from the University of Texas.

About EPIC Midstream Holdings, LP

EPIC was formed in 2017 to build, own and operate midstream infrastructure in both the Permian and Eagle Basins. EPIC operates the EPIC Crude Oil Pipeline and the EPIC NGL Pipeline that span approximately 700-miles servicing the Delaware, Midland and Eagle Ford Basins. EPIC is a portfolio company of funds managed by the Private Equity Group of Ares Management Corporation (NYSE: ARES). For more information, visit www.epicmid.com.

EPIC Midstream Holdings, LP
David McArthur
Corporate Communications Director
(210) 446-1059
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BOSTON--(BUSINESS WIRE)--Advent Technologies Holdings, Inc. (NASDAQ: ADN) (“Advent“) today announced that it is now a member of the Fuel Cell and Hydrogen Energy Association (FCHEA). Advent is active in the next-generation fuel cell and hydrogen technology space. The U.S. corporation develops cutting-edge technologies allowing for an ‘Any Fuel. Anywhere.’ option in which Advent’s high-temp fuel cells can go beyond hydrogen by converting hydrogen carriers and other e-fuels to electricity.

FCHEA is the national trade association in the U.S. representing leading companies and organizations that are advancing innovative, clean, safe, and reliable energy technologies and solutions. Members of the association represent the full industry supply chain with members based the U.S. and around the world. The mission of FCHEA is to advance the commercialization of and promote the markets for fuel cells and hydrogen energy.

Advent’s vision to create a safer, cleaner world by accelerating the process of decarbonization through innovative, flexible technologies aligns well with FCHEA’s three primary activities of:

• Leading national advocacy to encourage all levels of government to support fuel cell and hydrogen technology research, development, and deployment;
• Providing the industry with a voice in shaping regulations, codes, and standards to enable commercial growth, while ensuring the highest levels of consumer safety and satisfaction;
• Educating the public, and key opinion and policy leaders on the economic and environmental benefits of fuel cell and hydrogen technologies.

“The Fuel Cell and Hydrogen Energy Association is excited that Advent Technologies, with its broad portfolio of fuel cell components and systems, has joined our association,” said Morry Markowitz, FCHEA President. “Advent’s membership lends another unified voice to amplify the key role fuel cells and hydrogen can and will play in decarbonizing our energy future in the U.S. and around the world.”

Dr. Vasilis Gregoriou, Advent Technologies Chairman and Chief Executive Officer, added, “We are thrilled to be a member of FCHEA and to more actively support the commercialization of fuel cells across the U.S. market, and beyond. We look forward to collaborating with FCHEA and our fellow members to help the hydrogen and fuel cell industries thrive while remaining committed to actively playing our role in the clean energy transition through that advancement of innovative, effective solutions.”

About Advent Technologies Holdings, Inc.

Advent Technologies Holdings, Inc. is an American corporation that develops, manufactures, and assembles critical components for fuel cells and advanced energy systems in the renewable energy sector. Advent is headquartered in Boston, Massachusetts, with offices in the San Francisco Bay Area and Europe. With 120-plus patents (issued and pending) for its fuel cell technology, Advent holds the IP for next-gen high-temperature proton exchange membranes (HT-PEM) that enable various fuels to function at high temperatures under extreme conditions – offering a flexible ‘Any Fuel. Anywhere’ option for the automotive, maritime, aviation and power generation sectors. www.advent.energy

About the Fuel Cell and Hydrogen Energy Association

The Fuel Cell and Hydrogen Energy Association (FCHEA) represents the leading companies and organizations that are advancing innovative, clean, safe, and reliable energy technologies. FCHEA drives support and provides a consistent industry voice to regulators and policymakers. Our educational efforts promote the environmental and economic benefits of fuel cell and hydrogen energy technologies. Visit us online at www.fchea.org.

Advent Technologies Holdings, Inc.
Elisabeth Maragoula
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Sloane & Company
Joe Germani / James Goldfarb
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RESTON, Va.--(BUSINESS WIRE)--Bowman Consulting Group Ltd. (the “Company or “Bowman”) announced today that it plans to commence the roadshow for its proposed initial public offering of 3,077,000 shares of common stock. The initial public offering price is currently expected to be between $12.00 and $14.00 per share. The Company has applied to list its common stock on the Nasdaq Global Market (“Nasdaq”) and trade under the ticker symbol “BWMN”. D.A. Davidson & Co. and B. Riley Securities are acting as the joint bookrunners for this proposed offering. Bowman has granted the underwriters a 30-day option to purchase up to an additional 461,550 shares of common stock solely to cover over-allotments, if any.

The offering will be made only by means of a prospectus. A copy of the prospectus relating to this offering, when available, may be obtained from D.A. Davidson & Co., Attention: Syndicate Department, 8 Third Street North, Great Falls, MT 59401, by telephone at (800) 332-5915 and by e-mail: This email address is being protected from spambots. You need JavaScript enabled to view it.; or B. Riley Securities, Inc., Attention: Prospectus Department, 1300 17th Street N., Suite 1300, Arlington, VA 22209, by telephone at (703) 312-9580 and by e-mail: This email address is being protected from spambots. You need JavaScript enabled to view it..

A registration statement relating to the proposed sale of these securities has been filed with the Securities and Exchange Commission but has not yet become effective. These securities may not be sold, nor may offers to buy be accepted, prior to the time the registration statement becomes effective. This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation, or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

About Bowman Consulting Group Ltd.

Headquartered in Reston, Virginia, Bowman is an established professional services firm delivering innovative engineering solutions to customers who own, develop, and maintain the built environment. With over 750 employees and more than 30 offices throughout the United Sates, Bowman provides a variety of planning, engineering, construction management, commissioning, environmental consulting, geomatics, survey, land procurement and other technical services to customers operating in a diverse set of regulated end markets. For more information, visit www.bowman.com.

Forward-looking statements

This press release contains statements that constitute “forward-looking statements,” including with respect to the Company’s initial public offering. No assurance can be given that the offering will be completed on the terms described, or at all. Forward-looking statements are subject to numerous conditions, many of which are beyond the control of the Company, including those set forth in the Risk Factors section of the Company’s registration statement and preliminary prospectus for the offering filed with the SEC. Copies are available on the SEC’s website, www.sec.gov. The Company undertakes no obligation to update these statements for revisions or changes after the date of this release, except as required by law.

Investor Relations
Bruce Labovitz
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(703) 787-3403

With more than 20 years of strategic leadership, logistics, and operations experience, Brooke will oversee the company’s global supply chain

VANCOUVER, British Columbia--(BUSINESS WIRE)--Delta-Q Technologies (Delta-Q) announced today that operations leader Brooke Hanson has joined the company as Vice President of Operations, responsible for heading Delta-Q’s global supply chain and growing its manufacturing footprint.

In her new role, Brooke will oversee Delta-Q’s geographically dispersed, multiple line, 400,000-unit plus manufacturing and supply chain operation. This includes fostering the company’s Tier-1 contract manufacturing relationships, and overseeing the team of supply chain and logistics professionals.

“Brooke is a driven and experienced operations leader who will play a vital role in furthering Delta-Q’s growth within the global battery charger market,” said Steve Blaine, Co-CEO and Executive Vice-President of Engineering & Quality. “Brooke’s leadership in technology and manufacturing logistics will help Delta-Q continue to drive the industry toward widespread electrification and sustainability as we expand our manufacturing and supply chain footprint to meet the needs of our partners and customers.”

Brooke has more than 20 years of experience in the IoT market, leading high-performing teams in operations, analytics, logistics and production. In her new role, Brooke will drive innovation and automation across Delta-Q’s product, procurement and manufacturing procedures. As a member of the senior management team, she will provide strategic operational and process development leadership to ensure efficient allocation of supply chain resources, and to maximize profits and quality system wide.

“I am excited to join Delta-Q’s team and continue its impressive expansion in the global equipment manufacturing sector,” said Brooke. “Delta-Q is changing the way manufacturers view battery-powered technologies. I am eager to continue this modernization and advance its vision, while cultivating relationships with global partners.”

Prior to joining Delta-Q, Brooke was the Vice President of Operations at HAVEN by TZOA. Previously, she served as the Director of Global Supply Chain for Sierra Wireless in Richmond, BC, managing 12 manufacturing partners and an annual budget of $500 million. Brooke earned her Master of Business Administration in Management from Simon Fraser University in Vancouver, BC.

About Delta-Q Technologies

Delta-Q Technologies is charging the future and driving the world’s transition into electric energy. We collaboratively design, test, and manufacture robust battery chargers that improve the performance of our customers’ electric drive vehicles and industrial machines. As the supplier of choice for Tier 1 OEMs, we use our values, perseverance, and engineering expertise to guide our customers through the electrification process for a more sustainable world.

We are part of the Zapi Group of companies and headquartered in Vancouver, Canada. Delta-Q’s team and distribution spans across five continents to service industries such as electric golf cars, lift trucks, aerial work platforms, e-mobility, floor care machines, utility/recreational vehicles, and emerging markets, like outdoor power equipment.

Amanda Yeo, Delta-Q Technologies
Marketing Manager
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AnnMarie Carson, Communiqué PR
Phone: (206) 282-4923 ext. 119
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Company reports strong double-digit revenue and operating income growth

SCHAFFHAUSEN, Switzerland--(BUSINESS WIRE)--Garmin^® Ltd. (NASDAQ: GRMN), today announced results for the first quarter ended March 27, 2021.

Highlights for first quarter 2021 include:

• Total revenue of $1.07 billion, a 25% increase over the prior year quarter led by double-digit growth in the fitness, outdoor, marine and auto segments
• Gross margin improved to 59.8% compared to 59.2% in the prior year quarter
• Operating margin improved to 23.3% compared to 20.7% in the prior year quarter
• Operating income of $250 million, a 41% increase over the prior year quarter
• GAAP EPS was $1.14 and pro forma EPS⁽¹⁾ was $1.18, representing 30% growth in pro forma EPS over the prior year quarter
• Launched Lily™, our smallest and most fashionable smartwatch
• Expanded our market reach to serve endurance athletes with the launch of Enduro™
• Entered the powersports market with an all-new assortment of products including the rugged Tread™ power sport navigator, the PowerSwitch digital switching system and the BC 40 wireless camera
• Garmin Autoland named a 2020 finalist for the esteemed Robert J. Collier Trophy

(1) See attached Non-GAAP Financial Information for discussion and reconciliation of non-GAAP financial measures, including pro forma diluted EPS

Executive Overview from Cliff Pemble, President and Chief Executive Officer:

“Broad momentum across our business segments resulted in strong double-digit revenue and profit growth,” said Cliff Pemble, President and CEO of Garmin. “Interest in fitness, health, and active lifestyle products has never been higher, and we believe that we are well positioned to capitalize on the opportunities ahead.”

Fitness:

Revenue from the fitness segment grew 38% in the first quarter driven by strong demand for our cycling and advanced wearables products. Gross margin and operating margin were 56% and 24%, respectively, resulting in 138% operating income growth. During the quarter, we launched Lily, our smallest and most fashionable smartwatch to-date. We also launched the Rally™ series of power meters including a version designed specifically for off-road cycling, representing a new market opportunity.

Outdoor:

Revenue from the outdoor segment grew 46% in the first quarter with growth across all categories led by strong demand for adventure watches. Gross margin and operating margin were 67% and 36%, respectively, resulting in 97% operating income growth. During the quarter, we launched Enduro, a new adventure watch built for endurance racing with up to 80 hours of continuous operation in GPS mode while harvesting power from the sun. We also expanded the Approach^® family of golf tracking devices with the launch of three new products, each offering exemplary battery life and designed to benefit golfers of every skill level.

Aviation:

Revenue from the aviation segment declined 8% in the first quarter primarily due to reduced contributions from ADS-B products. Gross margin and operating margin were 73% and 26%, respectively. During the quarter, the Garmin G3000^® integrated flight deck was selected by Joby Aviation for its all-electric vertical takeoff and landing (eVTOL) aircraft. In addition, we recently received additional GFC 500/600 autopilot certifications, providing superior autopilot performance, greater reliability, and tremendous safety benefits to a growing number of aircraft models.

Marine:

Revenue from the marine segment grew 28% in the first quarter with growth across multiple categories. Gross margin and operating margin were 58% and 29%, respectively, resulting in 53% operating income growth. During the quarter, we experienced strong demand for chartplotters and Panoptix™ LiveScope™ sonars as customers prepare their boats for the upcoming season.

Auto:

Revenue from the auto segment grew 18% during the first quarter primarily driven by OEM programs and growth in consumer specialty categories. Gross margin was 39%, and we recorded an operating loss of $24 million in the quarter driven by investments in OEM programs. During the quarter, we entered the powersports market with the launch of the new Tread power sport navigator, the PowerSwitch digital switching system and BC 40 wireless camera. This trio of solutions helps recreational off-roaders find their way while staying connected, control electrical systems on the vehicle, and monitor their surroundings.

Additional Financial Information:

Total operating expenses in the first quarter were $392 million, a 19% increase over the prior year. Research and development increased by 23%, primarily due to engineering personnel costs across all segments and other expenses related to auto OEM programs. Selling, general and administrative expenses increased 15%, driven primarily by personnel related expenses and information technology costs. Advertising increased 16% driven primarily by higher spend in the fitness and outdoor segments.

The effective tax rate in the first quarter was 12.2% compared to 9.3% in the prior year quarter. The year-over-year increase in the effective tax rate is primarily due to a larger amount of reserve releases in the prior year.

In the first quarter of 2021, we generated approximately $331 million of free cash flow⁽¹⁾ and paid a quarterly dividend of approximately $117 million. We ended the quarter with cash and marketable securities of approximately $3.2 billion.

As announced in February 2021, the Board has recommended to the shareholders for approval at the annual meeting to be held on June 4, 2021 a cash dividend in the total amount of $2.68 per share (subject to adjustment if the Swiss Franc weakens more than 35% relative to the USD), payable in four equal installments on dates to be approved by the Board. The final $0.61 installment of the dividend approved at the 2020 annual meeting was paid on March 31, 2021 to shareholders of record as of March 15, 2021.

2021 Guidance:

We are maintaining our 2021 guidance for revenue of approximately $4.6 billion and pro forma EPS of $5.15 (see discussion on Forward-looking Financial Measures).

Webcast Information/Forward-Looking Statements:

An archive of the live webcast will be available until April 27, 2022 on the Garmin website at www.garmin.com. To access the replay, click on the Investors link and click over to the Events Calendar page.

This release includes projections and other forward-looking statements regarding Garmin Ltd. and its business that are commonly identified by words such as “anticipates,” “would,” “may,” “expects,” “estimates,” “plans,” “intends,” “projects,” and other words or phrases with similar meanings. Any statements regarding the Company’s expected fiscal 2021 GAAP and pro forma estimated earnings, EPS, and effective tax rate, and the Company’s expected segment revenue growth rates, consolidated revenue, gross margins, operating margins, potential future acquisitions, currency movements, expenses, pricing, new products launches, market reach, statements relating to possible future dividends, statements related to the ongoing impact of the COVID-19 pandemic, and the Company’s plans and objectives are forward-looking statements. The forward-looking events and circumstances discussed in this release may not occur and actual results could differ materially as a result of risk factors and uncertainties affecting Garmin, including, but not limited to, the risk factors that are described in both the Annual Report on Form 10-K for the year ended December 26, 2020 and the Quarterly Report on Form 10-Q for the quarter ended March 27, 2021 filed by Garmin with the Securities and Exchange Commission (Commission file number 0-31983). A copy of Garmin’s 2020 Form 10-K and the Q1 2021 Form 10-Q can be downloaded from https://www.garmin.com/en-US/investors/sec/. All information provided in this release and in the attachments is as of March 27, 2021. Undue reliance should not be placed on the forward-looking statements in this press release, which are based on information available to us on the date hereof. We undertake no duty to update this information unless required by law.

This release and the attachments contain non-GAAP financial measures. A reconciliation to the nearest GAAP measure and a discussion of the Company's use of these measures are included in the attachments.

Garmin, the Garmin logo, the Garmin delta, Approach and G3000 are trademarks of Garmin Ltd. or its subsidiaries and are registered in one or more countries, including the U.S. Enduro, Lily, Rally and Tread are trademarks of Garmin Ltd. or its subsidiaries. All other brands, product names, company names, trademarks and service marks are the properties of their respective owners. All rights reserved