INFORMATION RELATING TO THE FINANCIAL CONDITIONS OF THE DEPARTURE OF MR. JEAN-CLAUDE BASSIEN Publication carried out in accordance with the recommendations of the Afep-Medef corporate governance code At its meeting on February 25, 2026, Nexity's Board of Directors, on the recommendation of its Compensation and Appointments Committee, set the conditions for the departure of Mr. Jean-Claude Bassien, Deputy Chief Executive Officer.The departure of Mr. Jean-Claude Bassien from his position as Deputy Chief Exec ...

Investment Rating - The report does not explicitly provide an investment rating for the industry Core Insights - GCC countries are experiencing significant urban transformation driven by the need to diversify economies beyond oil, with national strategies like Saudi Arabia's Vision 2030, Kuwait's Vision 2035, and Oman's Vision 2040 focusing on spatial planning as a key element for economic and societal change [2][10] - Approximately 85% of the GCC population is projected to reside in urban areas by 2030, indicating a shift towards urbanization as a catalyst for economic growth [5][11] - The report outlines nine strategic enablers necessary for successful urban development, including practical visioning, neighborhood-scale planning, governance reform, and public-private collaboration [3][19] Summary by Sections A Visionary Leap Forward - The GCC has transformed from rural societies to urban economies over the past 50 years, with oil and gas revenues contributing nearly 40% of GDP in some countries [7] - National visions aim to diversify economies and enhance urban living through mega projects in sectors like tourism and technology [8][9] Regional Masterplans - GCC countries are developing strategic spatial masterplans to address challenges such as housing shortages and environmental degradation, but implementation remains complex [16][17] - Successful urban development requires clear governance frameworks and robust funding strategies [21][22] Funding and Financial Strategies - Urban transformations depend on aligning urban planning with financial strategies to attract private investment, which is currently limited by regulatory constraints and geopolitical risks [25][26] - The recent update of Saudi Arabia's Investment Law aims to ensure masterplans are financially viable and construction-ready, promoting investor confidence [27] Key Takeaways - Authorities should develop practical visions grounded in historical context and present realities to ensure long-term outcomes [37] - Cultural integration and preservation are essential to balance modern development with heritage, enhancing public and investor support [39] - Strengthening public-private partnerships (PPPs) and attracting private-sector participation through incentives can create a conducive environment for investment [43][44]

Core Viewpoint - Haining's Maqiao Street has been designated as one of the 2025 Green Ecological Urban Projects in Zhejiang Province, marking it as the third such project in Jiaxing, following the Haining Juehu International Science and Technology City and Tongxiang Phoenix Lake Science and Technology City [1] Group 1: Green Ecological Urban Project - The Green Ecological Urban Project is a comprehensive and multi-layered green development concept that involves planning, construction, and operation in areas such as spatial layout, infrastructure, architecture, transportation, ecology, and industry, adhering to resource conservation and environmental friendliness [1] - Maqiao Street has transformed from an agricultural town to a "textile town" and is now focusing on urban-rural integration and spatial restructuring, aiming to create a modern urban model characterized by sustainability and human-centric design [2] Group 2: Infrastructure and Building Standards - In the Maqiao Street area, 40.58% of newly constructed residential buildings are rated as two-star green buildings, while 100% of government-invested public buildings meet the same standard [2] - The area has implemented energy consumption monitoring systems for buildings, categorizing and collecting data on water, electricity, gas, and air conditioning usage, contributing to high "green content" in construction [2] Group 3: Transportation and Cultural Integration - Maqiao Street is developing a low-carbon transportation system using the TOD model, enhancing public transport, walking, and cycling networks, and promoting green travel habits [3] - The integration of local historical and cultural elements into urban development is emphasized, with projects like transforming an old grain station into a non-heritage themed café and creating a shared urban space along the Qingshui River [3] Group 4: Future Development Plans - Jiaxing is actively pursuing the creation of green ecological urban areas, focusing on the green renovation of existing buildings, promoting ultra-low energy consumption building projects, and increasing the proportion of prefabricated buildings [3] - The city aims to develop more green low-carbon buildings and accelerate regional green development, continuing to push for the establishment of national and provincial-level green ecological urban projects [3]

Core Insights - Parsons Corporation has been awarded a SAR210 million ($56 million) contract for Phase 2 of the Diriyah project by Diriyah Company, a subsidiary of Saudi Arabia's Public Investment Fund (PIF) [2][5] - The contract involves the design and delivery of parks, open spaces, and over 55 kilometers of streetscape, aiming to enhance livability and community well-being [3][4] - The Diriyah project is a significant mixed-use urban development that combines traditional Najdi architecture with modern urban design, targeting a walkable environment for approximately 100,000 residents and 50 million annual visitors [4][5] Company Overview - Parsons has over 65 years of experience in Saudi Arabia and is involved in more than 50 active projects, reinforcing its role in shaping the Kingdom's future cities [6] - The company has been a key partner in advancing Saudi Arabia's giga-project ecosystem since 2017, contributing to major developments aligned with Saudi Vision 2030 [5][6] - Parsons' expertise includes urban development, transport infrastructure, smart mobility, and sustainability, positioning it as a crucial enabler of the Kingdom's transformation journey [6]

Gentrification is reshaping cities across America. Here in Brooklyn, one artist is fighting to preserve his neighborhood's history from inside his car. I feel like Dxilandia lends itself to like capture the story of 40, 50, 60 years of a neighborhood.>> Modesto Flaco Himenez grew up in Bushwick and now drives its streets, sharing the neighborhood's heritage, culture, and resilience through his cab tour, Daxandia. >> Copy that. We'll tell them you'll be for an hour.>> Dispatch, >> what inspired me to make Ta ...

Core Insights - Keppel Ltd. has experienced a 29% year-to-date increase in share price due to strong business execution and a strategic shift from a conglomerate model to an asset-light global alternative real asset manager focusing on digital and green energy infrastructure [1][2] Business Transformation - The company is divesting legacy businesses and assets, reallocating proceeds into recurring income-generating assets such as data centers, renewables, and sustainable infrastructure, which aligns with long-term growth trends [2] - Keppel's urban development projects span multiple countries, providing a long-term pipeline for growth [9] Financial Performance - In 1H2025, Keppel reported a 5% year-on-year decrease in revenue to S$3.06 billion, while net profit surged 24% year-on-year to S$378 million [3] - Recurring income (excluding non-core portfolio for divestment) increased by 7.2% year-on-year to S$444 million [3] - The Real Estate segment saw a 45% year-on-year revenue increase to S$95 million, with net profit of S$98 million due to higher asset management fees and lower costs [4] - Infrastructure revenue declined 12% year-on-year to S$2.0 billion, accounting for 65.7% of total revenue, while net profit decreased 5% year-on-year to S$346 million [5] - Connectivity revenue increased 14% year-on-year to S$743 million, but net profit fell 19% year-on-year to S$57 million due to lower valuation gains [6] Growth Drivers - Singapore's Green Plan 2030 aims for 80% green buildings and increased solar energy, indicating a growing demand for green energy infrastructure [7] - As of 1H2025, Keppel has S$91 billion in funds under management, with S$25 billion undeployed, and secured an additional S$2.3 billion from institutional investors for investment in data centers and sustainable urban renewal [8] Debt and Dividends - Keppel's net debt stood at S$9.9 billion as of June 30, 2025, with a net gearing ratio of 0.9 times [13] - A dividend of S$0.15 per share was declared for 1H2025, translating to a yield of approximately 3.9% at the current share price of S$8.82 [13] Market Outlook - The company's successful transition and execution are critical for maintaining share price momentum, with current valuation at 17.8 times trailing earnings [14] - Continuous execution is necessary for Keppel to compound value in its new growth pillars [15]

Group 1 - Nexity has announced the implementation of a share buyback program, authorized at the Shareholders' General Meeting on 22 May 2025, covering a maximum of 200,000 shares [2] - The shares acquired through the buyback will be allocated to cover free share plans, particularly for employee share ownership schemes [2] Group 2 - In 2024, Nexity reported revenues of €3.5 billion and operates as an urban operator focused on urban regeneration and regional needs [3] - The company emphasizes its dual expertise as a planner/developer and developer/operator, offering a multiproduct range of services and solutions [3] - Nexity is committed to affordable and sustainable real estate, being recognized as France's number-one low-carbon project owner for six consecutive years [3] - The company ranked fifth in customer relations according to Les Échos and HCG, and received a 5 out of 5 rating from Humpact for its human capital development [3] - Nexity is listed on the SRD, Euronext's Compartment B, and the SBF 120 [3]

Policy & Development - Xiongan is undertaking real policy experiments as people move in [1] - Planners in Xiongan are targeting some of China's most persistent problems [1]

Core Insights - Parsons Corporation reported record first quarter results for total revenue, net income, earnings per share, adjusted EBITDA, and backlog, indicating strong performance and growth potential [3][5][8]. Financial Performance - Total revenue for Q1 2025 increased by $19 million, or 1%, to $1.6 billion, with a 2% decline on an organic basis. Excluding a confidential contract, total revenue growth was 11% and organic revenue growth was 7% [5][8]. - Operating income rose by 7% to $109 million, while net income surged by 67% to $66 million, attributed to improved operating performance and a prior year loss from convertible debt repurchase [5][8]. - GAAP diluted earnings per share (EPS) increased to $0.60 from $0.37 year-over-year, reflecting strong financial results [5][8]. Adjusted Metrics - Adjusted EBITDA for Q1 2025 was $149 million, a 5% increase from the previous year, with an adjusted EBITDA margin expanding by 40 basis points to 9.6% [6][8]. - Adjusted EPS rose to $0.78 from $0.70, driven by the increase in adjusted EBITDA [6][8]. Segment Performance - The Federal Solutions segment experienced a revenue decline of 7% to $842.6 million, but showed an 8% increase when excluding the confidential contract [9][10]. - The Critical Infrastructure segment reported a 14% revenue increase to $711.8 million, driven by organic growth and contributions from recent acquisitions [11][12]. Backlog and Book-to-Bill Ratio - Total backlog reached a record $9.1 billion, up $42 million from Q1 2024, with a book-to-bill ratio of 1.1x supported by a 1.4x ratio in the Critical Infrastructure segment [8][14]. - The company won four contracts worth over $100 million each during the first quarter, contributing to strong net bookings of $1.8 billion [14][18]. Corporate Highlights - Parsons was recognized as one of the World's Most Ethical Companies for the 16th consecutive year, reflecting its commitment to responsible enterprise practices [16][18]. - The Board of Directors increased the stock repurchase authorization to $250 million, with approximately 424,000 shares repurchased at an average price of $58.95 during Q1 2025 [18][19]. Fiscal Year Guidance - The company reiterated its fiscal year 2025 guidance for revenue between $7.0 billion and $7.5 billion, adjusted EBITDA of $640 million to $710 million, and cash flow from operations of $420 million to $480 million [19][17].

Core Insights - Parsons Corporation has been awarded a 25-month contract for Project Management Office services by the King Salman Park Foundation, marking new work for the company [1] - King Salman Park is a significant urban transformation project covering 11.6 sq km of green space and over 10 sq km of built-up area, supporting Saudi Vision 2030's "Quality of Life" Program [1][3] Company Responsibilities - Parsons will support the delivery strategy of the King Salman Park program, overseeing design, procurement, construction, and implementation of smart city initiatives [2] - The company will leverage its 80 years of global expertise and local experience in managing complex urban projects in the Kingdom [3] Sustainability Initiatives - The project aims to plant 1 million trees and plants, enhancing vegetation cover, increasing per capita green space, and boosting biodiversity [3] - Strategic placement of trees will help absorb CO2, increase humidity, and mitigate the heat island effect [3] Company Background - Parsons has over 65 years of regional presence, offering expertise in urban development, smart mobility, asset management, design, sustainability, and landscape architecture within the Kingdom [4] - The company is recognized as a leading disruptive technology provider in national security and global infrastructure markets [5]