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Bombardier reports its third quarter 2021 results, demonstrates solid execution and strong cash flow performance

Business aircraft revenues of $1.4 billion, up 17% year–over–year, mainly driven by an improved delivery mix and continued strong aftermarket recovery as overall fleet flight hours surpass 2019 levels.
Adjusted EBITDA⁽¹⁾ of $142 million (9.8% adjusted EBITDA margin⁽¹⁾), representing a year–over–year improvement of $58 million or 69% reflecting continued progress on the Global 7500 aircraft's learning curve, cost structure improvements and an improved delivery mix. Reported EBIT from continuing operations for the quarter was $48 million.
Strong free cash flow⁽¹⁾ generation of $100 million from continuing operations, representing an improvement of $747 million year–over–year. Reported cash flows from operating activities "" continuing operations for the quarter was $156 million and net additions to PP&E and intangible assets "" continuing operations for the quarter were $56 million.
Third quarter unit book–to–bill⁽²⁾ of ~1.7 and increased backlog by ~$500 million to $11.2 billion on account of continued strong order momentum.
Major milestone in deleveraging plan achieved with the redemption of debt maturities to December 2024, representing a total debt reduction of ~$3 billion since the beginning of 2021.
Pro–forma liquidity⁽³⁾ remains strong at $1.9 billion.

All amounts in this press release are in U.S. dollars unless otherwise indicated.
Amounts in tables are in millions, unless otherwise indicated.

MONTREAL, Oct. 28, 2021 (GLOBE NEWSWIRE) — Bombardier (TSX: BBD.B) announced today its financial results for the third quarter of 2021. The company is pleased with continued execution on its strategic initiatives, cash flow generation and order momentum driving the financial results of the quarter. Bombardier also highlighted that during the third quarter, the company redeemed debt maturities through December 2024, a major milestone in its deleveraging plan.

"The Bombardier team once again delivered a solid quarter, a confirmation that this year is shaping up to be significantly better than the last," said ric Martel, President and Chief Executive Officer, Bombardier. "Our unit book–to–bill ratio remains very healthy, contributing to a significant increase to our backlog. This momentum has also translated to a solid increase in profitability, with adjusted EBITDA margin approaching 10% this quarter."

"We are delivering consistently on what we set out to do, especially when it comes to deleveraging the balance sheet. Thanks to the hard work of our outstanding team, we cleared the debt maturity runway on plan," added Martel. "As a fantastic finale to the quarter and at a great moment in time for our industry, we launched our new Challenger 3500 jet last month. The extremely positive reception and strong first orders for the new aircraft are clear evidence that we were able to bring significant value to customers through measured and disciplined investments."

Third Quarter 2021 Financial Performance

Business jet revenues of $1.4 billion are up 17% year–over–year, propelled mainly by an improved delivery mix, with higher deliveries of large aircraft. The company has also seen an increase of revenues by $76 million from business aircraft services. This is mainly due to increased fleet flight hours having now surpassed 2019 levels, a clear signal that the industry is on a strong recovery path from the global shock caused by the COVID–19 pandemic. Confidence levels within the industry are at a new all–time high, indicative of the rising vaccination levels and eased travel restrictions. In the U.S., business jet utilization increased by 42.5%, year–over–year for the first eight months of the year. In Europe, business jet utilization increased by 27.1% year–over–year in the first nine months of the year.

Bombardier reported an adjusted EBITDA of $142 million, representing a year–over–year improvement of $58 million or 69%. The company attributes this to an improved aircraft mix, continued progress on Global 7500 aircraft learning curve, and cost structure improvements. Reported EBIT from continuing operations for the quarter was $48 million.

For the second consecutive quarter, the company is seeing an improved free cash flow (FCF) generation. FCF of $100 million from continuing operations represents an improvement of $747 million year–over–year. The positive result is mainly due to stronger order intake and better payment terms on new orders. Reported cash flows from operating activities "" continuing operations for the quarter was $156 million, and net additions to PP&E and intangible assets "" continuing operations for the quarter were $56 million.

Major Milestone Achieved with the Clearing of Debt Maturities Through December 2024

The Corporation reported a total debt reduction of approximately $3 billion since the beginning of 2021, and cleared, through redemption or refinancing, debt maturities through December 2024. This represents a major milestone in one of Bombardier's key priorities this year, as it creates a runway to focus on its operations and stabilizes the need for liquidity. Pro–forma liquidity remains strong at $1.9 billion.

Successful launch of the Challenger 3500

As the third quarter wrapped up, the company introduced a major update to its bestselling Challenger 350 platform, the Challenger 3500. The new aircraft represents a culmination of a period of important product development that saw Bombardier introduce innovative technologies and industry–leading new products and services.

With a redesigned interior that includes Bombardier's patented Nuage seat as part of the aircraft's standard configuration and the industry's first voice–controlled cabin, the new Challenger 3500 further elevates the cabin experience to meet the increasing customer expectations. The enthusiastic welcome that the mock–up of the aircraft received at the first post–pandemic National Business Aviation Association event earlier this month is a first confirmation of this, as is a 20 aircraft firm order announced in the third quarter.

Flight testing and certification activities for the Challenger 3500 is progressing on schedule for an expected entry into service in the second half of 2022.

SELECTED RESULTS
Results of the Quarter
Three–month periods ended September 30	2021				2020				Variance
					restated⁽⁴⁾
Revenues⁽⁵⁾	$	1,449			$	1,405			3			%
Adjusted EBITDA⁽⁵⁾	$	142			$	84			69			%
Adjusted EBITDA margin⁽⁵⁾	9.8			%	6.0			%	380 bps
Adjusted EBIT⁽¹⁾⁽⁵⁾	$	49			$	(11	)		nmf
Adjusted EBIT margin^{(1) (5)}	3.4			%	(0.8		)	%	420 bps
EBIT⁽⁵⁾	$	48			$	(29	)		nmf
EBIT margin⁽⁵⁾	3.3			%	(2.1		)	%	540 bps
Net loss from continuing operations	$	(376	)		$	(24	)		(1,467		)	%
Net income (loss) from discontinued operations	$	(1	)		$	216			nmf
Net income (loss)	$	(377	)		$	192			nmf
Diluted EPS from continuing operations (in dollars)	$	(0.16	)		$	(0.01	)		$	(0.15	)
Diluted EPS from discontinued operations (in dollars)	$	""			$	0.06			$	(0.06	)
	$	(0.16	)		$	0.05			$	(0.21	)
Adjusted net loss^{(1) (5)}	$	(95	)		$	(210	)		55			%
Adjusted EPS (in dollars)^{(1) (5)}	$	(0.04	)		$	(0.09	)		$	0.05
Cash flows from operating activities
Continuing operations	$	156			$	(611	)		nmf
Discontinued operations	$	""			$	(33	)		100			%
	$	156			$	(644	)		nmf
Net additions to PP&E and intangible assets
Continuing operations	$	56			$	36			56			%
Discontinued operations	$	""			$	26			(100		)	%
	$	56			$	62			(10		)	%
Free cash flow (usage)
Continuing operations	$	100			$	(647	)		nmf
Discontinued operations	$	""			$	(59	)		100			%
	$	100			$	(706	)		nmf

As at	September 30, 2021				December 31, 2020				Variance
Cash and cash equivalents excluding Transportation	$	1,380			$	1,779			(22		)	%
Cash and cash equivalents from Transportation	$	""			$	671			(100		)	%
	$	1,380			$	2,450			(44		)	%
Available short–term capital resources⁽⁶⁾	$	1,380			$	3,203			(57		)	%
Aviation order backlog (in billions of dollars)
Business aircraft⁽⁷⁾	$	11.2			$	10.7			5			%

About Bombardier

Bombardier is a global leader in aviation, creating innovative and game–changing planes. Our products and services provide world–class experiences that set new standards in passenger comfort, energy efficiency, reliability and safety.

Headquartered in Montral, Canada, Bombardier is present in more than 12 countries including its production/engineering sites and its customer support network. The Corporation supports a worldwide fleet of over 4,900 aircraft in service with a wide variety of multinational corporations, charter and fractional ownership providers, governments and private individuals.

News and information is available at bombardier.com or follow us on Twitter @Bombardier.

Visit the Bombardier Business Aircraft website for more information on our industry–leading products and services.

Bombardier, Global, Global 7500, Challenger, Challenger 350 and Challenger 3500 are trademarks of Bombardier Inc. or its subsidiaries.

For Information

Francis Richer de La Flche	Anna Cristofaro
Vice President, Financial Planning and Investor Relations	Manager, Communications
Bombardier	Bombardier
+1 514 855 5001 x13228	+1 514 855 8678

The Management's Discussion and Analysis and the Interim Consolidated Financial Statements are available at ir.bombardier.com.

bps: basis points
nmf: information not meaningful

(1)	Non–GAAP financial measures. Refer to the Non–GAAP financial measures section in Overview for definitions of these metrics and to the Analysis of consolidated results section and Liquidity and capital resources section in Overview for reconciliations to the most comparable IFRS measures.
(2)	Defined as net new aircraft orders in units over aircraft deliveries in units.
(3)	Non–GAAP measures. Pro–forma liquidity is defined as cash and cash equivalents as at September 30, 2021 of $1.4 billion plus $0.5 billion of short–term restricted cash as collateral for bank guarantees.
(4)	Restated for the sale of Transportation, refer to Note 17 "" Disposal of business to our Interim consolidated financial statements for more details.
(5)	Includes continuing operations only.
(6)	Defined as cash and cash equivalents as at September 30, 2021; defined as cash and cash equivalents including cash and cash equivalents from Transportation plus the undrawn amounts under Transportation's revolving credit facility and our senior secured term loan as at December 31, 2020.
(7)	Includes order backlog for both manufacturing and services.

CAUTION REGARDING NON–GAAP FINANCIAL MEASURES

This press release is based on reported earnings in accordance with IFRS and on the following non–GAAP financial measures:

Non–GAAP financial measures
Adjusted EBIT	EBIT excluding special items. Special items comprise items which do not reflect the Corporation's core performance or where their separate presentation will assist users of the consolidated financial statements in understanding the Corporation's results for the period. Such items include, among others, the impact of restructuring charges, impact of business disposals and significant impairment charges and reversals.
Adjusted EBITDA	Adjusted EBIT plus amortization and impairment charges on PP&E and intangible assets.
Adjusted net income (loss)	Net income (loss) excluding special items, accretion on net retirement benefit obligations, certain net gains and losses arising from changes in measurement of provisions and of financial instruments carried at FVTP&L and the related tax impacts of these items.
Adjusted EPS	EPS calculated based on adjusted net income attributable to equity holders of Bombardier Inc., using the treasury stock method, giving effect to the exercise of all dilutive elements.
Free cash flow (usage)	Cash flows from operating activities less net additions to PP&E and intangible assets.

Non–GAAP financial measures are mainly derived from the consolidated financial statements but do not have standardized meanings prescribed by IFRS. The exclusion of certain items from non–GAAP performance measures does not imply that these items are necessarily non–recurring. Other entities in our industry may define the above measures differently than we do. In those cases, it may be difficult to compare the performance of those entities to ours based on these similarly–named non–GAAP measures.

Adjusted EBIT, adjusted EBITDA, adjusted net income (loss) and adjusted EPS

Management uses adjusted EBIT, adjusted EBITDA, adjusted net income (loss) and adjusted EPS for purposes of evaluating underlying business performance. Management believes these non–GAAP earnings measures in addition to IFRS measures provide users of our Financial Report with enhanced understanding of our results and related trends and increases the transparency and clarity of the core results of our business. Adjusted EBIT, adjusted EBITDA, adjusted net income (loss) and adjusted EPS exclude items that do not reflect our core performance or where their exclusion will assist users in understanding our results for the period. For these reasons, a significant number of users of the MD&A analyze our results based on these financial measures. Management believes these measures help users of MD&A to better analyze results, enabling better comparability of our results from one period to another and with peers.

Free cash flow (usage)

Free cash flow is defined as cash flows from operating activities less net additions to PP&E and intangible assets. Management believes that this non–GAAP cash flow measure provides investors with an important perspective on the Corporation's generation of cash available for shareholders, debt repayment, and acquisitions after making the capital investments required to support ongoing business operations and long–term value creation. This non–GAAP cash flow measure does not represent the residual cash flow available for discretionary expenditures as it excludes certain mandatory expenditures such as repayment of maturing debt. Management uses free cash flow as a measure to assess both business performance and overall liquidity generation.

Reconciliations of non–GAAP financial measures to the most comparable IFRS financial measures are provided in the table hereafter, except for the following reconciliations:

adjusted EBIT to EBIT "" see the Consolidated results of operations section; and
free cash flow usage to cash flows from operating activities "" see the Free cash flow usage table in the Liquidity and capital resources section.

Reconciliation of adjusted EBITDA to EBIT⁽¹⁾
	Three–month periods ended September 30					Nine–month periods ended September 30
	2021		2020			2021		2020
EBIT	$	48	$	(29	)	$	103	$	479
Amortization	93		95			298		247
Impairment charges on PP&E⁽²⁾	""		6			3		25
Special items excluding impairment charges on PP&E⁽²⁾	1		12			4		(550		)
Adjusted EBITDA	$	142	$	84		$	408	$	201

(1)	Includes continuing operations only.
(2)	Refer to the Consolidated results of operations section for details regarding special items.

FORWARD–LOOKING STATEMENTS

This press release includes forward–looking statements, which may involve, but are not limited to: statements with respect to our objectives, anticipations and outlook or guidance in respect of various financial and global metrics and sources of contribution thereto, targets, goals, priorities, market and strategies, financial position, financial performance, market position, capabilities, competitive strengths, credit ratings, beliefs, prospects, plans, expectations, anticipations, estimates and intentions; general economic and business outlook, prospects and trends of an industry; customer value; expected demand for products and services; growth strategy; product development, including projected design, characteristics, capacity or performance; expected or scheduled entry–into–service of products and services, orders, deliveries, testing, lead times, certifications and execution of orders in general; competitive position; expectations regarding revenue and backlog mix; the expected impact of the legislative and regulatory environment and legal proceedings; strength of capital profile and balance sheet, creditworthiness, available liquidities and capital resources, expected financial requirements, and ongoing review of strategic and financial alternatives; the introduction of, productivity enhancements, operational efficiencies, cost reduction and restructuring initiatives, and anticipated costs, intended benefits and timing thereof; the anticipated business transition to growth cycle and cash generation; expectations, objectives and strategies regarding debt repayment, refinancing of maturities and interest cost reduction; expectations regarding availability of government assistance programs, compliance with restrictive debt covenants; expectations regarding the declaration and payment of dividends on our preferred shares; intentions and objectives for our programs, assets and operations; and the impact of the COVID–19 pandemic on the foregoing and the effectiveness of plans and measures we have implemented in response thereto; and expectations regarding the strength of the market and economic recovery in the aftermath of the COVID–19 pandemic. As it relates to the sale of the Transportation business to Alstom, this press release also contains forward–looking statements with respect to the benefits of such transaction, the use of the proceeds derived from the transaction and its impact on our outlook, guidance and targets, operations, infrastructure, opportunities, financial condition, business plan and overall strategy.

Forward–looking statements can generally be identified by the use of forward–looking terminology such as "may", "will", "shall", "can", "expect", "estimate", "intend", "anticipate", "plan", "foresee", "believe", "continue", "maintain" or "align", the negative of these terms, variations of them or similar terminology. Forward–looking statements are presented for the purpose of assisting investors and others in understanding certain key elements of our current objectives, strategic priorities, expectations, outlook and plans, and in obtaining a better understanding of our business and anticipated operating environment. Readers are cautioned that such information may not be appropriate for other purposes.

By their nature, forward–looking statements require management to make assumptions and are subject to important known and unknown risks and uncertainties, which may cause our actual results in future periods to differ materially from forecast results set forth in forward–looking statements. While management considers these assumptions to be reasonable and appropriate based on information currently available, there is risk that they may not be accurate. The assumptions underlying the forward–looking statements made in this press release include the following material assumptions: the deployment of the proceeds from the sale of the Transportation business to Alstom on terms allowing the Corporation, when combined with other financing sources and free cash flow generation, to repay or otherwise manage its financial obligations for the next three years; growth of the business aviation market and increase of the Corporation's share of such market; proper identification of recurring cost savings and executing on our cost reduction plan; optimization of our real estate portfolio, including through the sale or other transaction in respect of real estate assets on favorable terms; and access to working capital facilities on market terms. For additional information, including with respect to other assumptions underlying the forward–looking statements made in this press release, refer to the Forward–looking statements "" Assumptions section in the MD&A of our financial report for the fiscal year ended December 31, 2020. Given the impact of the changing circumstances surrounding the COVID–19 pandemic and the related response from the Corporation, governments (federal, provincial and municipal), regulatory authorities, businesses, suppliers, customers, counterparties and third–party service providers, there is inherently more uncertainty associated with the Corporation's assumptions as compared to prior years.

Certain factors that could cause actual results to differ materially from those anticipated in the forward–looking statements include, but are not limited to, risks associated with general economic conditions, risks associated with our business environment (such as risks associated with the financial condition of business aircraft customers; trade policy; increased competition; political instability and force majeure events or global climate change), operational risks (such as risks related to developing new products and services; development of new business ; order backlog; the transition to a pure–play business aviation company; the certification of products and services; the execution of orders; pressures on cash flows and capital expenditures based on seasonality and cyclicality; execution of our strategy, productivity enhancements, operational efficiencies, restructuring and cost reduction initiatives; doing business with partners; product performance warranty and casualty claim losses; regulatory and legal proceedings; environmental, health and safety risks; dependence on certain customers, contracts and suppliers; supply chain risks; human resources; reliance on information systems; reliance on and protection of intellectual property rights; reputation risks; risk management; tax matters; and adequacy of insurance coverage), financing risks (such as risks related to liquidity and access to capital markets; retirement benefit plan risk; exposure to credit risk; substantial debt and interest payment requirements; restrictive debt covenants; reliance on debt management and interest cost reduction strategies; and reliance on government support), market risks (such as foreign currency fluctuations; changing interest rates; increases in commodity prices; and inflation rate fluctuations). For more details, see the Risks and uncertainties section in Other in the MD&A of our financial report for the fiscal year ended December 31, 2020. Any one or more of the foregoing factors may be exacerbated by the ongoing COVID–19 outbreak and may have a significantly more severe impact on the Corporation's business, results of operations and financial condition than in the absence of such outbreak. As a result of the current COVID–19 pandemic, additional factors that could cause actual results to differ materially from those anticipated in the forward–looking statements include, but are not limited to: risks related to the impact and effects of the COVID–19 pandemic on economic conditions and financial markets and the resulting impact on our business, operations, capital resources, liquidity, financial condition, margins, prospects and results; uncertainty regarding the magnitude and length of economic disruption as a result of the COVID–19 outbreak and the resulting effects on the demand environment for our products and services; uncertainty regarding market and economic recovery in the aftermath of the COVID–19 pandemic; emergency measures and restrictions imposed by public health authorities or governments, fiscal and monetary policy responses by governments and financial institutions; disruptions to global supply chain, customers, workforce, counterparties and third–party service providers; further disruptions to operations, orders and deliveries; technology, privacy, cyber security and reputational risks; and other unforeseen adverse events.

Readers are cautioned that the foregoing list of factors that may affect future growth, results and performance is not exhaustive and undue reliance should not be placed on forward–looking statements. Other risks and uncertainties not presently known to us or that we presently believe are not material could also cause actual results or events to differ materially from those expressed or implied in our forward–looking statements. The forward–looking statements set forth herein reflect management's expectations as at the date of this report and are subject to change after such date. Unless otherwise required by applicable securities laws, we expressly disclaim any intention, and assume no obligation to update or revise any forward–looking statements, whether as a result of new information, future events or otherwise. The forward–looking statements contained in this press release are expressly qualified by this cautionary statement.

GLOBENEWSWIRE (Distribution ID 8381754)

Global Leaders Call: No Success at COP26 without a fair deal for Africa

Nairobi, Kenya, Oct. 26, 2021 (GLOBE NEWSWIRE) — Global leaders, hosted by President Uhuru Kenyatta, spoke at the launch of the Global Center on Adaptation (GCA) "State and Trends in Adaptation in Africa Report 2021 "" How Adaptation Can Make Africa Safer, Greener and More Prosperous in a Warming World" (STA21) to call for COP26 and development partners to increase resources to the Africa Adaptation Acceleration Program (AAAP).

STA21 presents a blueprint for climate adaptation and showcases the opportunities climate adaptation offers to solve previously intractable problems and put Africa on a more resilient pathway towards "green growth".

The report outlines the financial and macro–economic risk climate change poses to Africa and the imperative for the continent to scale up adaptation to reduce the economic costs of climate change. Without adaptation action, projections estimate that climate change will lead to an equivalent of 2 percent to 4 percent annual loss in GDP in the continent by 2040, with the poor, women, and excluded populations bearing the brunt of the impact. Yet the GCA report shows that the benefits of adaptation measures are frequently more than twice or as much as five times or greater than their costs. In addition, moving quickly to adapt is especially beneficial, with a benefit–cost ratio for early action of at least 12 to 1.

Speaking during the launch event, Ban Ki–moon, 8^th Secretary General of the United Nations, Chair of the GCA said:

"The climate emergency has Africa at the cross–roads. Business as usual is a sure–fire route to chaos. But adapt to it and Africa will thrive."

Secretary–General Ban Ki–moon also spoke in support of the African–led and African–owned Africa Adaptation Acceleration Program, as a pathway to mobilizing the balance of the promised $100 billion in annual international climate finance. He highlighted AAAP as an important opportunity to realize a resilient and prosperous future for Africa.

Patrick Verkooijen, in his inaugural annual lecture as GCA CEO, commented:

"Africa will suffer higher GDP losses than most other regions of the world. These impacts can only be reduced with adaptation. Thousands of lives and millions of livelihoods have already been sacrificed in Africa because we are far from delivering what is needed in adaptation today. For COP26 to succeed, Glasgow must deliver for Africa. To do so, it must bring more ambition and more finance to help Africa adapt to the pace of a climate emergency devastating the continent with increasingly serious consequences for the world's poorest and most vulnerable."

Dr Akinwumi Adesina, President of the African Development Bank Group said:

"AAAP provides a unique opportunity for wealthier nations to meet their commitments and help Africa tackle the consequences of climate change. I am optimistic that our partners will deliver the first round of financing of $6 billion to $8 billion that we need for the Africa Adaptation Acceleration Program in 2021."

Patricia Espinosa, Executive Secretary of the United Nations Framework Convention on Climate Change (UNFCCC) spoke about the importance of finance for adaptation:

"Key to success in adaptation and resilience "" like so many other issues related to climate change "" is adequate finance. At COP26 we will continue to call for wider–ranging and comprehensive financial support for developing nations. The $100 billion pledge was a commitment that was made in the UNFCCC process more than 10 years ago. It's time to deliver."

Kristalina Georgieva, Managing Director, Managing Director, International Monetary Fund said:

"Effects of climate change in Africa threaten lives, jobs, and the substantial economic and development progress of the past two decades. As the GCA State and Trends in Adaptation report rightly says, adaptation is a necessity and must go hand–in–hand with reducing poverty and improving livelihoods. African countries need to do their part and have created the Africa Adaptation Acceleration Program but cannot do it alone. Along with bold action to reduce emissions at COP26, the international community must deliver on its commitment to provide at least $100 billion a year in climate finance for developing countries where financial flows for adaptation must be on a par with financial flows for mitigation. This is essential for securing a sustainable global recovery."

Uhuru Kenyatta, President of Kenya said:

"This program, in principle, aims to scale up and accelerate adaptation here in Africa by providing financial and technical support to African adaptation efforts. This initiative greatly paves the way for the continent to manage its climate related challenges. It is important to appreciate that effective climate adaptation will require a paradigm shift that harnesses the full potential of science and innovation."

Ngozi Okongo–Iweala, Director–General, World Trade Organization said:

"Ensuring that supply chains are resilient can be a key component of Africa's adaptation strategies. This will require significant efforts to climate–proof key trade–related infrastructure. Initiatives like the WTO's Aid for Trade can help mobilize investment in climate–resilient infrastructure.

Felix Tshisekedi, President of the Democratic Republic of Congo and Chair of the African Union said:

"Climate change could wipe out 15 per cent of Africa's gross domestic product by 2030. This means an additional 100m people in extreme poverty by the end of the decade. This is a cruel fate for a continent that contributes so little to global warming. Our way out is to strengthen our ability to respond and adapt to climate change. That's why the African Union, working with the Global Center on Adaptation, the African Development Bank and other partners, is endorsing the Africa Adaptation Acceleration Program."

Notes to Editors:

About the Global Center on Adaptation

The Global Center on Adaptation (GCA) is an international organization which works as a solutions broker to accelerate action and support for adaptation solutions, from the international to the local, in partnership with the public and private sector, to ensure we learn from each other and work together for a climate resilient future. Founded in 2018, the GCA is hosted by the Netherlands, working from its headquarters in Rotterdam with a knowledge and research hub based in Groningen. The GCA has a worldwide network of regional offices in Abidjan, Ivory Coast; Dhaka, Bangladesh and Beijing, China. Through this evolving network of offices and global and regional GCA teams, the organization engages in high–level policy activities, new research contributions, communications, and technical assistance to governments and the private sector.

For more information please go to www.gca.org

About the Africa Adaptation Acceleration Program

As the global solutions broker on adaptation and resilience, the Global Center on Adaptation (GCA) has joined forces with the African Development Bank to create the Africa Adaptation Acceleration Program (AAAP) focusing on bringing four critical areas for adaptation action to scale in partnership with African countries and partners. The four critical areas of Climate Smart Digital Technologies for Agriculture and Food Security; African Infrastructure Resilience Accelerator; Empowering Youth for Entrepreneurship and Job Creation in Climate Adaptation and Resilience and Innovative Financial Initiatives for Africa will help address the nexus of climate change, COVID–19, and the economy and will support African countries in designing and implementing transformational adaptation of their economies and post–COVID recovery development paths. AAAP aims to mobilize $25 billion to support Africa's adaptation plans over five years ($5 billion per year). The AfDB has already committed half of the total, $12.5 billion by 2025. The program has been endorsed by President Tshisekedi, Chair of the African Union and President Ali Bongo of Gabon, the African Union Champion for Adaptation.

For more information please go to www.gca.org/programs/africa–adaptation–acceleration–program/

About the State and Trends in Adaptation in Africa Report 2021

The GCA's 2021 State and Trends in Adaptation in Africa report presents the most comprehensive overview of the present and future prospects of the African continent in the light of climate change. It is also a blueprint for how individuals and institutions in the African and international policy space can design, finance, and implement adaptation plans to best protect the lives and livelihoods of hundreds of millions of African people. Published ahead of COP26 in Glasgow, the report is an evidence–based advocacy tool to put adaptation and resilience in Africa higher on the agenda nationally and internationally using the report's actionable policy recommendations. As adaptation is scaled up in response to the challenge of climate change, the report is expected to influence the design of projects and programs, including those supported by the African Adaptation Acceleration Program.

Contact
For additional enquiries and interview requests please contact:
Alexandra Gee
Head of Communications, Global Center on Adaptation
alex.gee@gca.org

GLOBENEWSWIRE (Distribution ID 8380167)

Global Leaders Call: No Success at COP26 without a fair deal for Africa

Speaking during the launch event, Ban Ki–moon, 8^th Secretary General of the United Nations, Chair of the GCA said:

"The climate emergency has Africa at the cross–roads. Business as usual is a sure–fire route to chaos. But adapt to it and Africa will thrive."

Patrick Verkooijen, in his inaugural annual lecture as GCA CEO, commented:

Dr Akinwumi Adesina, President of the African Development Bank Group said:

Patricia Espinosa, Executive Secretary of the United Nations Framework Convention on Climate Change (UNFCCC) spoke about the importance of finance for adaptation:

Kristalina Georgieva, Managing Director, Managing Director, International Monetary Fund said:

Uhuru Kenyatta, President of Kenya said:

Ngozi Okongo–Iweala, Director–General, World Trade Organization said:

Felix Tshisekedi, President of the Democratic Republic of Congo and Chair of the African Union said:

Notes to Editors:

About the Global Center on Adaptation

For more information please go to www.gca.org

About the Africa Adaptation Acceleration Program

For more information please go to www.gca.org/programs/africa–adaptation–acceleration–program/

About the State and Trends in Adaptation in Africa Report 2021

Contact
For additional enquiries and interview requests please contact:
Alexandra Gee
Head of Communications, Global Center on Adaptation
alex.gee@gca.org

GLOBENEWSWIRE (Distribution ID 8380167)

First-Ever Global Study of Diversity in Graduate Management Education Sheds Light on Gaps in Race and Gender

RESTON, Va., Oct. 26, 2021 (GLOBE NEWSWIRE) — The Graduate Management Admission Council (GMAC), a global association of leading graduate business schools, today released a special report, "The Global Diversity of Talent "" Attainment and Representation," a first reference guide of its kind to better understand representation for graduate management education (GME) degree attainment worldwide. Understanding that education systems across the globe experienced disruption due to the pandemic, GMAC turned to its leading research capability as universities sought to adapt with a renewed attention to issues of student access and equity, as well as diversity and representation in tertiary educational attainment. The report provides a global overview, seven regional outlooks, and separate reports for 69 locations or countries with an estimated 25,000 or more people in the student–aged population of 20 to 34 who have attained a master's degree in the subject of business, administration, or law. In addition to a separate appendix that reviews data on 111 other countries, it also examines the representation of women globally and underrepresented groups in the United States.

"At GMAC, we recognize that a diverse student body in gender, race and background lifts us all as it creates a richer student experience and increases sensitivity to the issues that affect others," said Sangeet Chowfla, president and CEO of GMAC. "This report "" the first global state of the industry view about diversity in graduate management education "" is intended not only to serve as an informative guide, but also as a base to target outreach and advocate for the value of graduate business degrees to underrepresented populations around the globe."

Key Findings

Women struggle to be represented at the graduate business level, falling behind the most in Europe

Globally, more women than men choose their undergraduate study in the fields of business, administration, and law. 26.4 percent of bachelor's degrees earned by females are in these fields, slightly higher than for men (24.6%). At the master's level, however, men (33.7%) are more likely to study in business, administration, and law than women (29.4%). Data suggests that women have shown broader interest when pursuing a master's degree, with education and health and welfare two other popular disciplines besides business or law schools.

Furthermore, women in Europe are estimated to hold only 38.4 percent of graduate business degrees in the region, notably lower than the global average (44.8%) and behind East Asia and the Pacific where women are a majority (51.7%) of the region's graduate business degree–holders. When compared across all regions, Europe has the largest share of those aged 30–34 in the GME pipeline at 41.8% but the smallest share of the GME pipeline aged 20–24 at only 19.8 %, suggesting that many women in Europe choose to return to business school later in life.

African American graduates outpace their white counterparts, driven by their overrepresentation in U.S. for–profit programs

The proportions of graduate management degree–holders relative to the student–aged population, or the GME participation rate, differs among the seven U.S. race/ethnicity groups studied in the report: American Indian or Alaska Native, Asian American, Black or African American, Hispanic American, Native Hawaiian or Other Pacific Islander, Other/Two or more races, and Whites. Although a common perception is that African Americans are underrepresented in GME programs, they demonstrate a 3.0% GME participation rate, outranking their white counterparts at 2.5%.

"African Americans are interestingly overrepresented in graduate management education relative to their population size when compared with other groups, albeit slightly," said Sabrina White, vice president of school and industry engagement at GMAC. "According to a previous GMAC study, African Americans accounted for 37 percent of for–profit GME degrees conferred in 2015–2016. Their enrollment in for–profit institutions outpacing that in traditional universities may have contributed to their overrepresentation in GME."

Most business degree holders come from Asia while Latin America enjoys highest business concentration among graduate degrees

Among the seven regions studied, the largest pool of student aged graduate business talent falls in East Asia and the Pacific, which is also the largest source of bachelor's degree–holders in the fields of business, administration, and law. While China and India, the two "Asian giants," contribute the most to both the graduate and undergraduate levels of business school students, the U.S. impresses with its substantial share at third in both categories. Pakistan and Turkey are two other notable inclusions in the top 10 sources, with business graduates accounting for 28 percent and 40 percent respectively of the country's total bachelor's degree–holders.

Globally, of the more than 61 million people understood to have attained a master's degree, approximately 24 percent have earned GME degrees. By region, the highest business concentration among all master's degree–holders is seen in Latin America (33.1%), the Middle East (27.6%), and East Asia and the Pacific (26.6%). In addition, two countries in the Latin America region have greater than 60 percent females within the student–age population of 20 to 34 who are assumed to have attained a master's degree in the subject of business, administration, or law: Colombia (65.6%) and Dominican Republic (64.5%).

About the Report

To establish the foundation of this groundbreaking effort, GMAC leveraged the latest global data resources from the 2018 dataset of U.S. Census Bureau International Database, The World Bank, UNESCO, UNECE, and OECD, to provide baseline for studying the state of diversity within graduate management education today. Supplemental material of country and regional descriptions as well as available 2020/2021 international rankings indices were included for present context. More details of the full report, and other research series produced by GMAC, are available on gmac.com.

About GMAC

The Graduate Management Admission Council (GMAC) is a mission–driven association of leading graduate business schools worldwide. Founded in 1953, GMAC creates solutions and experiences that enable business schools and candidates to better discover, evaluate, and connect with each other.

GMAC provides world–class research, industry conferences, recruiting tools, and assessments for the graduate management education industry, as well as tools, resources, events, and services that help guide candidates through their higher education journey. Owned and administered by GMAC, the Graduate Management Admission Test (GMAT) exam is the most widely used graduate business school assessment. GMAC also owns and administers the NMAT by GMAC (NMAT) exam and the Executive Assessment (EA).

More than 12 million prospective students a year trust GMAC's websites, including mba.com, to learn about MBA and business master's programs, connect with schools around the world, prepare and register for exams and get advice on successfully applying to MBA and business master's programs. BusinessBecause and The MBA Tour are subsidiaries of GMAC, a global organization with offices in China, India, the United Kingdom, and the United States.

To learn more about our work, please visit www.gmac.com

Media Contact:

Teresa Hsu
Senior Manager, Media Relations
202–390–4180 (mobile)
thsu@gmac.com

GLOBENEWSWIRE (Distribution ID 8379813)

Global Center on Adaptation releases new research on the benefits of climate adaptation for Africa

Nairobi, Kenya, Oct. 26, 2021 (GLOBE NEWSWIRE) — The Global Center on Adaptation (GCA) today released the findings of its "State and Trends in Adaptation in Africa Report 2021 "" How Adaptation Can Make Africa Safer, Greener and More Prosperous in a Warming World" (STA21) during a virtual event at the University of Nairobi hosted by the Government of Kenya under the leadership of Uhuru Kenyatta, President of Kenya.

The report presents a comprehensive overview of the present and projected climate risks for Africa together with a blueprint for climate adaptation which will be addressed through the four pillars of GCA's Africa Adaptation Acceleration Program (AAAP). It showcases the opportunity climate adaptation offers to solve previously intractable problems and put Africa on a more resilient pathway towards "green growth".

The report states that even if the Paris Climate Agreement goals are achieved, the economic costs of climate change in Africa are projected to be large. It is likely that Africa will experience higher relative impacts (as a percentage of GDP) than most other world regions, even though it is less responsible (whether historically or in the present day) for global greenhouse gas emissions than other major regions of the world. If the Paris Climate Agreement goals are missed, the economic costs will be very significant in Africa, and potentially catastrophic in some sub–regions.

GCA's analysis of the data demonstrates that only adaptation can reduce the economic costs of climate change in Africa over the next 20 years and that Africa needs to scale up adaptation now. The level of climate change in the next 20 years for Africa is already locked in, and these impacts can only be reduced by adaptation. Climate change will affect public finances: it is now considered a financial and a macro–economic risk.

Without adaptation action, projections estimate that climate change will lead to an equivalent of 2 percent to 4 percent annual loss in GDP in the continent by 2040, with the poor, women, and excluded populations bearing the brunt of the impact. Yet studies show that the benefits of adaptation measures are almost always more than twice the costs, and often are more than five times higher. In addition, moving quickly to adapt is especially beneficial, with a benefit–cost ratio for early action of at least 12 to 1.

STA21 revealed that the cost of taking effective adaptation action in the agricultural sector (particularly in priority areas like research and extension, water management, infrastructure, land restoration, and climate information services) is estimated at US $15 billion per year, less than a tenth of the estimated US $201 billion annual cost of inaction, which includes paying for disaster relief and recovery after floods. With agriculture dominating economic life in many African countries, accounting for between 30 to 40 percent of GDP, and a leading source of jobs for over two–thirds of Africa's population, the impact of climate change on agriculture has far reaching consequences for African economies as a whole without accelerated adaptation action. AAAP aims to address the climate challenges in this key sector through its Climate Smart Digital Technologies for Agriculture and Food Security which aims to scale up access to climate–smart digital technologies and associated data–driven agricultural and financial services for at least 30 million farmers in Africa by 2025.

At the same time, Africa has the highest rates of urbanization in the world. About half of Africans now live in cities, and the urban population is expected to nearly triple by 2050, driven by high population growth rates and increasing migration from rural areas to cities. STA21 outlines how, as cities expand, they can undertake a range of adaptation actions that require little in the way of financial resources but generate immediate and significant benefits or lay the groundwork for enhanced adaptation measures as part of post–COVID recovery plans. Such actions include: strengthening early warning systems, providing affordable safe housing, creating urban parks and better drainage systems to soak up stormwater and reduce urban heat, promoting innovative urban agriculture (such as vertical farms on the walls of homes), strengthening and decarbonizing power grids, and generating energy from wastes. The AAAP Infrastructure Resilience Accelerator will ensure by 2025 that climate risks and resilience are integrated into at least 50% (by value) of new infrastructure investments in Africa across key infrastructure sectors, including water, transport, energy, ICT, and waste management to help close the infrastructure gap and achieve sustainable development in the face of climate change.

With the youngest population globally located in Africa, STA21 also outlines the importance of engaging young people on the importance of adaptation action to ensure the development gains of recent years and their future welfare are not threatened by the impacts of climate change. STA21 outlines how Africa's massive endowment of nature can be harnessed as both an engine for jobs and a pathway for cost–effective adaptation, allowing the continent to embark on a more sustainable development pathway. Africa also has the potential to provide greater employment opportunities for youth by taking a growth path focused on labor–intensive modern industries in eco–tourism services, climate–smart agriculture, the ocean economy and green building and infrastructure. The AAAP pillar Empowering Youth through Jobs and Entrepreneurship is promoting sustainable job creation through entrepreneurship in climate adaptation and resilience in Africa by unlocking $3 billion in credit for adaptation action.

Nevertheless the amount of money available for adaptation action is $265 billion less than the investment need of $331 billion for the continent by 2030. STA21 outlines the urgent need, therefore, to increase support from developed nations, sovereign wealth funds, pension funds, development banks, philanthropies, foundations, non–profits, and other sources, as well as integrating adaptation into national budgets. STA21 also outlines the opportunities for deploying innovative financing models, mainstreaming resilience into investment decision–making and building the enabling environment for adaptation investment. AAAP pillar Innovative Financial Initiatives for Africa aims to increase financial flows for Adaptation and Resilience (A&R) to the continent with a total increase of adaptation finance on the continent to over $5 billion per annum by 2025.

Notes to Editors:

About the Global Center on Adaptation

For more information please go to www.gca.org

About the Africa Adaptation Acceleration Program

For more information please go to www.gca.org/programs/africa–adaptation–acceleration–program/

About State and Trends in Adaptation in Africa Report 2021

Contact
For additional enquiries and interview requests please contact:
Alexandra Gee
Head of Communications, Global Center on Adaptation
alex.gee@gca.org

GLOBENEWSWIRE (Distribution ID 8380024)

Expereo Achieves Cradlepoint 5G for Enterprise Branch Specialization

AMSTERDAM, The Netherlands, Oct. 26, 2021 (GLOBE NEWSWIRE) — The world's leading provider of Global Internet, Cloud Access Optimization, SASE and SD–WAN services, Expereo, is proud to announce today that it has achieved 5G for Enterprise Branch Specialization from Cradlepoint, the global leader in cloud–delivered LTE and 5G wireless network edge solutions. The 5G for Enterprise Branch Specialization identifies and recognizes partner organizations that are leaders in positioning and selling Cradlepoint's 5G for business solutions by meeting a series of sales, technical, and business proficiency criteria.

By receiving the specialization, Expereo will support Cradlepoint's efforts of selling the industry's most comprehensive portfolio of 5G solutions to meet the business imperatives of availability, interoperability, security, and manageability.

By leveraging Cradlepoint's Netcloud solution, Expereo delivers portable network connections that can be used as primary, failover or underlay links. Having no physical transmission medium makes deployment easy with just a 4G/5G–enabled router and ready to use data SIM card(s) from Mobile Operators. This allows backup facilities or temporary offices to instantly connect to the internet and guarantees corporate network connection for when operations are disrupted as a result of disasters or contingency planning. Mobile Broadband can also be used to improve redundancy on SD–WAN and optimize application performance by adding more choice to the underlay, further diversifying current MPLS and Internet components within the SD–WAN environment.

"Being recognized as a 5G Enterprise Branch specialization showcases Expereo's commitment to using the best–of–breed technology as part of its service stack, as well as getting our customer path to 5G for business," explains Catherine Lee, Director Service Development at Expereo. "Our customers get the most advanced mobile endpoint equipment there is, access to extra–mile support, and the assurance that the products and services we jointly provide with Cradlepoint will meet the needs enterprise network," he continues.

By combining its NetCloud platform with a clean–sheet–of–paper design for its new 5G modems and antenna systems, Cradlepoint is the first to deliver comprehensive 5G solutions for business. Specific capabilities include combining LTE, Gigabit–Class LTE, and 5G in a single wireless WAN; supporting all 5G spectrums, interoperating with existing customer SD–WAN and router infrastructures; and simplifying the entire network management lifecycle.

"Cradlepoint is committed to leading the evolution of Wireless WAN and 5G and is both the first and best choice for customers in this space," said Eric Purcell, senior vice president of global partner sales at Cradlepoint. "Our reseller, service provider, and technology partners play a crucial role in this mission. The addition of Expereo to our 5G for Enterprise Branch Specialization program is another important step in leading the path to 5G for business."

About Expereo
Expereo is the leading provider of managed network solutions, including Global internet connectivity, SD–WAN, SASE, and Cloud Access Optimization services. Expereo is the trusted partner of 30% of Fortune 500 companies and powers enterprise and government sites worldwide, helping to enhance every business' productivity with flexible and optimal Internet performance. In Feb 2021, Vitruvian Partners international growth capital and buyout firm, acquired a majority stake holding in Expereo, alongside to the leading European private equity firm Apax Partners sas, and company management.

About Cradlepoint
Cradlepoint is a global leader in cloud–delivered LTE and 5G wireless network edge solutions for branch, mobile, and IoT networks. Cradlepoint NetCloud, the personification of the company's Elastic Edge vision, is a subscription–based service with purpose–built endpoints that delivers a pervasive, secure, and software–defined Wireless WAN edge to connect people, places, and things over LTE and 5G cellular networks. More than 22,000 businesses and government agencies around the world rely on Cradlepoint to keep critical sites, points of commerce, field forces, vehicles, and IoT devices always connected and protected, including 75% of the world's top retailers, 50% of the Fortune 100, and first responder agencies in 25 of the largest US cities. Major service providers use Cradlepoint solutions as the foundation for innovative managed services. Founded in 2006, Cradlepoint is a privately held company headquartered in Boise, Idaho, with a development center in Silicon Valley and international offices in the UK and Australia.

GLOBENEWSWIRE (Distribution ID 8379999)

Crocus Technology Expands High Precision Portfolio of Isolated Current Sensors over Industrial and Automotive Temperature Ranges

SANTA CLARA, Calif., Oct. 26, 2021 (GLOBE NEWSWIRE) — Crocus Technology Inc., the leading supplier of disruptive Tunnel Magneto–Resistance XtremeSense sensors, today announces the CT425, CT426, CT427 and CT428 isolated current sensors with <1% total error over the full operating temperature range without sacrificing accuracy or bandwidth. The high–speed operation and accurate output allow customers to optimize system design for smaller size and higher efficiency.

The CT42x with less than 300 ns response time greatly simplifies the solution in EV Charging applications which are utilizing GaN (Gallium Nitride) or SiC (Silicon Carbide) transistors to improve power density. Likewise, the CT42x offers improvements in terms of performance and size compared to the classic isolated current sense solutions which utilize a shunt resistor, amplifier, and digital isolator to sense the voltage and convert this signal into a current measurement. The CT42x directly senses the flow of current through the package avoiding errors in conversion and provides inherently faster and more accurate measurements. With industry leading response time of 300 ns, high power architectures like the CCM Totem–Pole PFC can provide higher power density solutions. The fast switching frequency of Wide Bandgap (WBG) power devices requires a current sensor that can detect fast transients to prevent potential cascading failures. The integration in a space saving SOIC–8 package also reduces the total PCB footprint size by up to 8 times smaller compared to existing solutions.

The CT42x has robust built–in immunity to common–mode fields which allows the device to reject greater than 99% of external stray magnetic fields without the need for external shielding while maintaining <1% total accuracy. Crocus' proprietary TMR technology inherently offers a very high signal–to–noise ratio (SNR) which allows for high resolution measurements required for precision control or monitoring applications.

"The expansion of this product family brings more options to our customers to experience the high precision performance of our XtremeSense TMR products in more demanding applications," states Zack Deiri, President and CEO of Crocus Technology. "Previously our customers would select products that offered them good performance on one parameter over temperature and then they would adjust their design to compensate for the other parameters. With Crocus products they are finding they can achieve high precision and high bandwidth offering them a comprehensive high performance solution."

Product features and performance:

CT425 & CT428 (5.0 V version), CT426 & CT427 (3.3 V version)

Integrated 0.5 m conductor enabling 20 A to 65 A AC and DC applications

Total output error 0.5% FS (typ)

300 ns response time, 1 MHz bandwidth

Rated Isolation Voltage: >4 kV_RMS

AEC–Q100 & UL/IEC 62368 Certified, IEC 61000–4–5 Certified

Over current detection (CT427 & CT428), Enhanced filter (CT425 & CT426)

Integrated Common Mode Field Rejection (CMFR) with > 99% immunity

Targeting applications in Power–Factor Correction (PFC), Solar Power Inverters, Battery Management Systems (BMS), xEV Chargers, DC/DC converters and AC/DC inverters.

The CT425, CT426, CT427 and CT428 sensors are available in an industry standard SOIC–8 package. Samples and evaluation boards are currently available. For more information on the CT42x product family, please visit the product webpage:

https://crocus–technology.com/products/ct42x/

About Crocus Technology

Crocus Technology develops and manufactures state–of–the–art magnetic sensors based on its patented XtremeSense TMR sensor technology. Crocus' disruptive magnetic sensor technology brings significant advancements to IoT and smart devices, industrial, consumer, medical, and automotive electronics applications demanding high accuracy, high resolution, stable temperature performance, and low power consumption. Crocus is headquartered in Santa Clara, California. For more information, please visit http://www.crocus–technology.com.

2021 Crocus Technology International Corp. All rights reserved. Crocus Technology, XtremeSense and combinations thereof are trademarks of Crocus Technology Inc. and Crocus Technology SA. Other names are for informational purposes only and may be trademarks of their respective owners.

For more information, please contact:

Elsa Magnani
Crocus Technology
Tel: +1–208–999–6643
Email: emagnani@crocus–technology.com

GLOBENEWSWIRE (Distribution ID 8378416)

Unique Network Raises $11.3 Million For Next-Generation NFT Infrastructure

LONDON, Oct. 25, 2021 (GLOBE NEWSWIRE) — Unique Network, a next generation NFT chain for Polkadot and Kusama, announced today that it has raised $11.3 million in the second round of its pre–sale, bringing its total raised to $16M. The investment round was led by Web3 investment pioneers Outlier Ventures, who were joined by some of the most well–known NFT investors, including The LAO, Flamingo, Nalu Capital and over 200 other investors, including a number of follow–on investments from the previous round his funding round, especially with the quality and quantity of investors involved, has positioned Unique Network well for the upcoming launch of Quartz, its NFT chain for Kusama.

"Unique Network are trailblazing a new path for NFTs within Polkadot and Kusama's ecosystem and we are incredibly excited to back them in their pursuit to increase the design space of NFTs." – Chris Cable, FlamingoDAO

"Despite all the current buzz around NFTs, there is still a massive barrier to entry," said Unique Network co–founder and CEO Alexander Mitrovich. "Gas fees, the need to purchase cryptocurrencies, storage, and even the fact that NFTs have limited features for artists to express their vision, all hold the industry back. Unique Network and our Kusama chain, Quartz, are built to solve the economic and storage problems with Ethereum–based NFTs and create new levels of interaction and malleability that will take NFTs to the next level."

Unique Network will participate in the upcoming parachain auctions for Kusama, during which they aim to secure a parachain slot for Quartz, their new canary network for Kusama. Beginning on Wednesday October 27th, interested parties can participate in the crowdloan to help Quartz win the auction.

Quartz will be the first NFT infrastructure on Kusama, and is designed to enable the most powerful and advanced NFT functionality on the Kusama network. Quartz parachain on Kusama will allow anyone to build NFT marketplaces and experiences with interoperability between different blockchains, like Ethereum and EVM Based Chains and other notable NFT blockchains.

In the five months since its first investment round, Unique Network has announced various partnerships including with the UN–led DigitalArt4Climate Campaign with GloCha, RMRK, Art Curators Grid, Forever Has Fallen, and more. With the impending launch of Quartz, Unique Network will be able to help even more projects and artists develop their NFT marketplaces and experiences.

For more information, please visit Unique Network, and join us on Twitter and Telegram.

About Unique Network

Unique Network is a framework for the next generation of NFTs. The first NFT chain for Kusama and Polkadot, it offers developers independence from network–wide transaction fees and upgrades. The Unique Network team built Substrapunks, the first NFTs on Polkadot, won Hackusama in 2020, and created Substrate's pallet for NFTs. Unique Network launched in July 2021.

For media inquiry, please contact: jo@serotonin.co

GLOBENEWSWIRE (Distribution ID 8378878)

Acino acquires selected Aspen brands in South Africa

Zurich, Oct. 22, 2021 (GLOBE NEWSWIRE) — ZURICH, Switzerland, 22 October 2021 – Acino and Aspen Pharmacare Holdings Limited and its subsidiaries (collectively, "Aspen") have signed an agreement for Acino to acquire six South African prescription medicines for over 105 million (R1.8 billion).

The acquired medicines are used for the treatment of gastroenterology, erectile dysfunction and cardiovascular diseases. The acquisition will further strengthen Acino's footprint in South Africa by expanding their offering in these important therapeutic segments.

The transaction includes the Trustan, Altosec, Zuvamor, Ciavor, Grantryl and Aspen Granisetron brands. To secure uninterrupted patient access to these medicines, the parties have also signed a manufacturing and supply agreement in terms of which Aspen will supply the Aspen manufactured products to Acino for a period of seven years.

This partnership is a compelling affirmation of Acino's long–term strategy and purpose to increase people's access to affordable healthcare in the areas where they need them most. This acquisition comes on the heels of a series of other strategic investments, including the acquisition of a women's health portfolio in Russia earlier this year and Takeda's primary care portfolio in 2020.

"This agreement will fortify Acino's presence in South Africa and enable us to expand our diverse portfolio of high–quality, innovative treatments that help improve people's lives", said Steffen Saltofte, CEO of Acino. "Acino is committed to growing its footprint across our core emerging markets to deliver the best value to our patients, customers, suppliers and shareholders."

John Norman, Regional Director English–Speaking Africa at Acino said, "I am very pleased to sign this agreement with Aspen. We work hard to make a meaningful contribution to the South African economy by providing best–in–class products and service to our patients and healthcare practitioners, as well as creating employment opportunities. This further aligns with our commitment to transformation and retaining our BBBEE Level 1 certification. With this acquisition, Acino will enhance the value of these brands through our in–depth expertise and experience in the market."

Aspen's Group Chief Executive, Stephen Saad, said, "This transaction forms part of Aspen's communicated strategy to refine its product portfolio in South Africa. The acquisition of these trusted brands in South Africa represents excellent scaling and commercial opportunities for Acino as it expands its footprint in South Africa by adding these products to its existing product portfolio."

The transaction is subject to customary closing conditions, including regulatory approvals. It is anticipated that the transaction will complete by 31 December 2021.

–ENDS–

About Acino

Acino is a Swiss pharmaceutical company headquartered in Zurich with a clear focus on selected markets in the Middle East, Africa, Russia, the CIS Region, and Latin America. The company is backed by Nordic Capital and Avista Capital Partners. We deliver quality pharmaceuticals to promote affordable healthcare in these emerging markets, and leverage our high–quality pharmaceutical manufacturing capabilities and network to supply leading companies through contract manufacturing and out–licensing. For more information, visit www.acino.swiss. Acino has attained Level 1 BBBEE status in South Africa in 2020 and 2021. For more information: www.acino.swiss

About Aspen

Headquartered in Durban, South Africa, Aspen is a leading global specialty and branded multinational pharmaceutical company in both emerging and developed markets.

Aspen improves the health of patients in more than 150 countries through its high quality, affordable and effective healthcare solutions. The Group's key business segments are manufacturing and commercial pharmaceuticals comprising regional brands and sterile focus brands that include anaesthetics and thrombosis products.

Aspen employs approximately 9,100 people and has 70 established business operations in over 50 countries. The Group operates 23 manufacturing facilities across 15 sites and holds international manufacturing approvals from some of the most stringent global regulatory agencies. Its manufacturing capabilities are scalable to demand and cover a wide variety of product–types including steriles, oral solid dose, liquids, semi–solids, biologicals and active pharmaceutical ingredients. For more information visit www.aspenpharma.com

For more details, please contact:

Acino

Media Relations

Larisa Bernstein

Head of Corporate Communications

Acino International AG

larisa.bernstein@acino.swiss

Aspen

Media Relations

Shauneen Beukes

Aspen Group Communications Manager

sbeukes@aspenpharma.com

GLOBENEWSWIRE (Distribution ID 8378063)

Bombardier to Report Third Quarter 2021 Financial Results on October 28, 2021

MONTRÉAL, Oct. 21, 2021 (GLOBE NEWSWIRE) — Bombardier (TSX: BBD.B) will publish its financial results for the third quarter ended September 30, 2021, on October 28, 2021.

On October 28, 2021, at 8:00 a.m., EST, Bombardier will hold a webcast/conference call intended for investors and financial analysts to review the company's financial results for the third quarter September 30, 2021.

A live webcast of the call and relevant financial charts will be available at ir.bombardier.com.

Stakeholders wishing to listen to the presentation and the question–and–answer period by telephone may dial one of the following conference call numbers:

In English:	514–392–1587, passcode: 4225431# or 1–877–395–0279, passcode: 4225431# (toll–free in North America) Overseas calls: 800 4222 8835, code 4225431# Look up country phone number

In French: (with translation)	514–861–1381, passcode: 5075227# or 1–877–695–6175, passcode: 5075227# (toll–free in North America) Overseas calls: +800 4222 8835, passcode 5075227# Look up country phone number

The replay of this call will be available on Bombardier's website shortly after the end of the webcast.

About Bombardier
Bombardier is a global leader in aviation, creating innovative and game–changing planes. Our products and services provide world–class experiences that set new standards in passenger comfort, energy efficiency, reliability and safety.

Headquartered in Montral, Canada, Bombardier is present in more than 12 countries including its production/engineering sites and its customer support network. The Corporation supports a worldwide fleet of more than 4,900 aircraft in service with a wide variety of multinational corporations, charter and fractional ownership providers, governments and private individuals.

News and information is available at bombardier.com or follow us on Twitter @Bombardier. Visit the Bombardier Business Aircraft website for more information on our industry–leading products and services.

Bombardier is a trademark of Bombardier Inc.

For Information

Tinca Stokojnik Prouvost
Communications
Bombardier
T: 514–855–5001, ext. 51674

GLOBENEWSWIRE (Distribution ID 8377942)

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