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Rebuilding LA: Steel Frame Construction on the Rise Amid Push to Fireproof Homes

The Hoyt Organization

MAY 1, 2025 – In the aftermath of January’s wildfires that swept through 40,000 acres causing $250 billion in local economic damage, destroying more than 16,000 structures and affecting thousands more, builders and city officials, alike, are analyzing construction practices to incorporate materials that won’t burn. At the top of the list? Steel frame construction. Steel has emerged as the primary option for homebuilders who need to adhere to new standards in wildfire zones and keep insurance costs at bay for those who will ultimately live there. The steel-framing industry, itself, is projected to grow to more than $58 billion by 2033, up from $35 billion in 2023, according to Spherical Insights. “This year’s fires were a heartbreaking tragedy on a horrific scale, and sadly much of damage could have been contained if it weren’t for the overuse of wood and drywall that are so quick to ignite when impacted by flying embers,” said Scott Acton, CEO of Forté Specialty Contractors, a seasoned design-build veteran whose unique expertise combines residential projects with high-profile hospitality and theme park developments that must adhere to stringent fire safety standards. Acton advocates for more steel-frame home designs, which are much more durable in the event of a natural disaster or the wildfires that are occurring at an alarmingly regular place in California. The losses incurred have gotten so catastrophic that the insurance premiums moving forward will likely soar at a rate that will displace many Californians and exacerbate the state’s affordability crisis. “Due to its resilience and durability, steel home construction has been growing in popularity for the luxury markets along the coast, but it is quickly becoming the preferred option for developers of all housing types because traditional building practices have gotten so dangerous and costly,” Acton said. “Developers of multifamily housing are increasingly specifying steel framing to accelerate build times, simplify quality control and deliver fire-resistant buildings that meet the demands of urban living. Along with the protection from fire, steel frame houses are also less susceptible to damage from earthquakes, high winds or flooding.” Steel-frame homes are also less likely to be infested with pests, termites and mold compared to wood. They are faster to assemble because the steel is often pre-fabricated off-site, which reduces on-site labor time. Plus, steel is highly recyclable, making it a more environmentally friendly choice compared to wood, which requires deforestation for production. In addition to pest resistance, speed to market, and recyclability, building with steel framing also delivers substantial saving on insurance. Recognizing steel as non-combustible, insurers can offer premium discounts of up to 75 percent on builder’s risk policies, according to the Steel Framing Industry Association. These average savings reflect steel’s superior fire resistance and loss history, translating into more predictable underwriting and lower overall risk costs throughout both construction and occupancy. The strength and integrity of steel creates more room for designer creativity as well. Despite steel’s relative material cost being higher than lumber, Acton notes that this is a huge value-add in luxury markets such as Malibu and the Palisades, where wider interior spaces and higher ceilings are in demand. ABOUT KRYTON Kryton International Inc. is the inventor of the crystalline waterproofing admixture and has been waterproofing concrete structures with its proprietary KrystolÂ® technology since 1973. Kryton has won awards for innovation, manufacturing, best place to work, and entrepreneurship. Kryton is an active member of the American Concrete Institute, International Concrete Repair Institute, American Shotcrete Association, and many other thought-leading organizations. Kryton exports its products to more than 50 countries globally. www.kryton.com About Forté Specialty Contractors: Founded in 2010, Forté Specialty Contractors is a Las Vegas-based specialty construction company that specializes in design build projects rooted in the experiential theming and entertainment world. Forté expanded its services to include a luxury home building division, which today includes a portfolio of homes in Las Vegas and on the East and West coasts. For more information, please visit fortedesignbuild.com or follow us on Facebook, Instagram, or LinkedIn. Contact Details Forte Specialty Contractors Andrew King +1 914-513-6895 aking@hoytorg.com Company Website https://fortedesignbuild.com/

May 01, 2025 01:47 PM Eastern Daylight Time

Rising Water Tables in the Southern U.S. Spotlight Need for Sustainable, Waterproof Concrete Solutions

The Hoyt Organization

May 1, 2025 - With rising water tables and an uptick in extreme weather events across the Southern United States, engineers, builders, and municipalities are turning to Smart Concrete as a long-term, sustainable solution to fortify critical infrastructure against flood risks, abrasion, corrosion and climate-related damage. Recent studies have shown that groundwater levels across states like Louisiana, Texas, Florida, and Georgia are increasing due to a combination of sea level rise, heavy rainfall patterns, and overburdened drainage systems. Consequently, there are higher likelihoods of flooding not just along coasts, but inland as well, putting foundations, stormwater systems, and essential infrastructure at increasing risk of failure. According to First Street’s 2025 National Risk Assessment, which projects a nearly $1.5 trillion dollar drop in property values from climate-related migration patterns, the nation’s most risky markets for climate-related property loss are all in Texas, including the metropolitan areas of Dallas-Fort Worth, Austin and Houston – all of which have experienced recent population surges amid increasing insurance costs associated with extreme weather. Smaller markets have been less resilient to these economic and environmental threats. For instance, in Jefferson County, Ala., the damage has already been done, triggering a 9.4 percent spike in climate-related insurance costs and a subsequent 25 percent plunge in population, the report found. Key infrastructure such as highways, airports and large-capacity garages are increasingly vulnerable to water-related corrosion in the South and that durable concrete is a viable long-term solution to those challenges, according to Patrick Kelly, Territory Manager – Central U.S. for Kryton International, a leading manufacturer of high-performance concrete. “It’s largely a threat from below,” Kelly said of the South’s rising water tables and increasing flood risks. “Traditional concrete structures can deteriorate rapidly when exposed to persistent water pressure, freeze-thaw cycles, and chemical ingress. Our waterproof concrete technology is designed to combat these exact challenges while reducing the need for costly maintenance and repair.” Waterproof Concrete: A Sustainable Advantage Unlike surface coatings or short-term sealants, waterproof concrete is engineered at the mix level with crystalline admixtures that resist moisture intrusion from the inside out. When compared to traditional concrete, this internal waterproofing not only prolongs structural life but also contributes to sustainability goals by: Reducing carbon-generating material waste from repairs and replacements Improving lifecycle performance with lower initial carbon footprint Enhancing climate resilience in transportation, utility, and commercial infrastructure Waterproof concrete is increasingly being adopted in: Underground parking structures and basements Tunnels, culverts, and stormwater management systems Coastal and low-lying public works projects High-performance industrial facilities in flood-prone regions “With even more extreme weather on the horizon, future-ready construction starts with resilient materials,” said Kryton International’s Vice President for Product Development, Kevin Yuers. “Waterproof concrete isn’t just a product — it’s a strategy for climate adaptation.” ABOUT KRYTON Kryton International Inc. is the inventor of the crystalline waterproofing admixture and has been waterproofing concrete structures with its proprietary KrystolÂ® technology since 1973. Kryton has won awards for innovation, manufacturing, best place to work, and entrepreneurship. Kryton is an active member of the American Concrete Institute, International Concrete Repair Institute, American Shotcrete Association, and many other thought-leading organizations. Kryton exports its products to more than 50 countries globally. www.kryton.com Contact Details Kryton International, Inc. Andrew King +1 914-513-6895 aking@hoytorg.com Company Website https://www.kryton.com/

May 01, 2025 10:19 AM Pacific Daylight Time

Spring Bird Delivers Transit Buses to MTR for Use in Major Construction Shuttle Operations

Spring Bird

Spring Bird has delivered six heavy-duty New Flyer D40LF transit buses to MTR, providing dedicated shuttle support for a large-scale semiconductor fabrication plant construction site. The buses will be used to safely and efficiently transport construction workers across the expansive site, reflecting the growing demand for durable, high-capacity shuttle solutions in complex infrastructure projects. The multi-bus order, fulfilled over the past year through several transactions, underscores Spring Bird’s rising role as a trusted supplier of transit buses for industrial and operational shuttle services. According to Spring Bird founder Elliott Carson, the deal came together due to “competitive pricing, fast turnaround, and strong warranty support,” all of which aligned with MTR’s high standards and tight project timelines. “This partnership with MTR is a great example of what happens when two teams are aligned in purpose and professionalism,” said Carson. “MTR had a clear vision, high standards, and a fast-moving project — and we were proud to meet that challenge. Supporting their shuttle operations with dependable, work-ready transit buses is exactly what Spring Bird is built to do.” The buses underwent standard make-ready servicing and were delivered ready for immediate deployment. While not retrofitted with low-emission or advanced telematics systems in this case, the New Flyer D40LF platform offers reliable performance, ample standing room, and durability that outperforms most traditional coach or cutaway vehicles under demanding, repetitive shuttle conditions. “Transit buses are built for this kind of work,” said Thomas Hoskins, Director of Operations at Spring Bird. “You’re moving large numbers of people, constantly, in stop-and-go patterns, sometimes on rough or temporary roads. These vehicles are designed for all-day, every-day use. They can load quickly, handle tough environments, and just keep going.” Spring Bird’s Construction Shuttle Service program highlights several key benefits of using heavy-duty transit buses in worksite transportation: Dual-door boarding allows faster loading and unloading compared to coach buses or vans. Low-floor designs increase accessibility and reduce boarding times. Higher standing capacity allows more flexible loading based on shift schedules. Cost-efficiency comes from needing fewer buses and drivers to move more people in less time. For MTR, choosing Spring Bird also meant working with a team that understands the complexity of operational logistics. “We’re proud to support partners like MTR who are helping to build the future—literally,” said Carson. “Whether it’s a long-term city transit solution or a short-term industrial project, our goal is always the same: safe, smart, dependable transportation.” The deal also adds another chapter to the Carson family’s eight-decade history in the transit industry. Spring Bird, founded by Elliott Carson in 2020, is built on a legacy that dates back to 1943 when Dean Carson began providing local transit in Los Angeles. Today, that commitment to innovation, service, and reliability lives on in Spring Bird’s growing footprint across public and private transportation sectors. About Spring Bird Spring Bird is a premier provider of transportation solutions, specializing in the sale, leasing, and service of heavy-duty transit buses and motor coaches. Drawing from the rich Carson family legacy in the transportation industry, Spring Bird offers an inventory of high-quality buses from leading manufacturers and provides customized rehabilitation services, including minor repairs, major overhauls, and technological retrofitting. Dedicated to safety, innovation, and customer satisfaction, Spring Bird addresses the unique needs of cities, transit agencies, and private operators, ensuring reliable and efficient transportation solutions. Media Contact: For more information, visit https://springbirdbus.com or contact us at press@springbirdbus.com. ### About Spring BirdSpring Bird is a premier provider of transportation solutions specializing in the sale, leasing, and service of heavy-duty transit buses and motor coaches. Drawing from the rich Carson family legacy in the transportation industry, Spring Bird offers an inventory of high-quality buses from leading manufacturers and provides customized rehabilitation services, including minor repairs, major overhauls, and technological retrofitting. Dedicated to safety, innovation, and customer satisfaction, Spring Bird addresses the unique needs of cities, transit agencies, and private operators, ensuring reliable and efficient transportation solutions. Contact Details Media Contact press@springbirdbus.com Company Website https://springbirdbus.com

April 30, 2025 10:41 AM Central Daylight Time

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JOSH PRISTAW TO BECOME PRESIDENT OF CLARION PARTNERS

Clarion Partners

Clarion Partners LLC, a leading real estate investment manager, announced today that Josh Pristaw will be joining the Firm’s senior leadership team as Managing Director and President. This position will report directly to David Gilbert in his capacity as Clarion’s CEO and Chairman. Pristaw will sit on Clarion’s Executive Board and Investment Committee. Josh brings more than two decades of real estate experience across property sectors and functions, including acquisitions, asset management, portfolio development, and capital markets. He joins Clarion from Pretium, an investment firm with $60 billion under management across U.S. residential real estate, residential credit, and corporate credit. Josh has served as Senior Managing Director and Head of Pretium’s $35 billion real estate platform and a member of the Pretium Executive Committee. Prior to Pretium, Mr. Pristaw had co-founded GTIS Partners, a real assets investment firm, where he worked for 17 years and last served as a Partner, Co-Head of GTIS Brazil, Head of Capital Markets, and a member of the firm’s Investment Committee. Previously, he was a Principal and Co-Head of Acquisitions for Coventry Real Estate Advisors and was also a member of Coventry’s Investment Committee. “We are very pleased to have Josh take on a long-term strategic leadership role at Clarion,” commented Clarion CEO David Gilbert. “His diversified expertise is highly aligned with Clarion’s focus on continued global expansion in key sectors, which we view as fundamental to our ability to deliver compelling investment opportunities to our institutional and private wealth clients. We look forward to Josh’s significant contributions as we work to strategically expand our product set across the commercial real estate spectrum.” Per Pristaw, “The breadth and depth of Clarion’s dedicated real estate platform and talent are unique in the industry. I am very excited to join the management team and collaborate to develop and drive ongoing growth strategies, enhance and expand our brand and products, and above all, prioritize our commitment to client success.” Mr. Pristaw is expected to begin at Clarion mid-summer. Clarion Partners, LLC, an SEC registered investment adviser with FCA-authorized and FINRA member affiliates, has been a leading U.S. real estate investment manager for more than 40 years. Headquartered in New York, the firm maintains strategically located offices across the United States and Europe. With $72.5 billion in total real estate and debt assets under management, Clarion Partners offers a broad range of real estate strategies across the risk/return spectrum to approximately 500 institutional investors across the globe. Clarion Partners is an independently operated specialist investment manager of Franklin Templeton. More information about the firm is available at www.clarionpartners.com. Nothing herein constitutes an offer or solicitation of any product or service to any person or in any jurisdiction where such offer or solicitation is not authorized or is prohibited by law. Contact Details Rob Jesselson rob@craftandcapital.com Company Website https://www.clarionpartners.com

April 16, 2025 04:15 PM Eastern Daylight Time

XLRE ETF Provides Comprehensive Access to the Real Estate Sector

Select Sector SPDR

The Select Sector SPDR Real Estate Sector ETF ( XLRE ) continues to be a compelling choice for investors seeking strategically tailored exposure to the diverse real estate industry. Since its inception in 2015, XLRE has provided a focused pathway into Real Estate Investment Trusts (REITs) and real estate management and development markets, while maintaining a disciplined approach to its portfolio design. A Purposeful Portfolio XLRE is comprised of 31 holdings, offering exposure to key real estate industries including industrial, data center, and telecommunications. This ETF emphasizes large cap Real Estate companies concentrating a significant portion of its allocation—over 60%—into its top 10 holdings. Top Holdings* include: ProLogis – 9.61% American Tower A – 9.43% Welltower – 8.65% Equinix – 7.36% Simon Property A – 4.72% Realty Income – 4.71% Public Storage – 4.37% Digital Realty – 4.20% Crown Castle – 4.20% CBRE – 3.58% Low-Cost Investment Solution One of XLRE’s key advantages is its extremely competitive expense ratio of 0.08%**. This low-cost structure aims to provide investors with an affordable option by minimizing fees. For those exploring sector-specific investments, this cost-effective option may present a desirable entry point into the real estate market. Transparency Through Consistent Reporting XLRE distinguishes itself through its commitment to daily transparency. The ETF ensures its investors have access to the most up-to-date and accurate information regarding portfolio holdings and allocations, equipping them with the knowledge necessary for informed decision-making. Exposure to Established Market Participants XLRE exclusively focuses on companies within the S&P 500, aligning its portfolio with some of the most recognizable and largest names in the real estate industry. This approach allows investors to benefit from the influence of large-cap companies while still accessing sector-specific opportunities. Accessing Opportunities in Real Estate Investments XLRE provides a thoughtful solution for investors aiming to integrate real estate into their broader investment portfolios. With its structure, low expense ratio, and dedication to transparency, XLRE embodies a strategic and efficient approach to real estate. DISCLAIMER: This is a work of research and should not be taken as investment or financial advice. Therefore, Select Sector SPDRs or the publisher is not liable for any decision made based on the publication. About the Company: Select Sector SPDR ETFs offer flexibility and customization opportunities. Many investors have similar outlooks, but no two are exactly alike. Select Sector SPDR ETFs let investors select the sectors that best meet their investment goals. *Holdings, Weightings & Assets as of 3/31/25 subject to change **Ordinary brokerage fees apply DISCLOSURES The S&P 500 Index is an unmanaged index of 500 common stocks that is generally considered representative of the U.S. stock market. The index is heavily weighted toward stocks with large market capitalizations and represents approximately two-thirds of the total market value of all domestic common stocks. The S&P 500 Index figures do not reflect any fees, expenses or taxes. An investor should consider investment objectives, risks, fees and expenses before investing. One may not invest directly in an index. Transparent ETFs provide daily disclosure of portfolio holdings and weightings All ETFs are subject to risk, including loss of principal. Sector ETF products are also subject to sector risk and nondiversification risk, which generally will result in greater price fluctuations than the overall market. Diversification does not eliminate risk. An investor should consider investment objectives, risks, charges and expenses carefully before investing. To obtain a prospectus, which contains this and other information, call 1-866-SECTOR-ETF (732-8673) or visit www.sectorspdrs.com. Read the prospectus carefully before investing. ALPS Portfolio Solutions Distributor, Inc., a registered broker-dealer, is distributor for the Select Sector SPDR Trust. Media Contact: Company: Select Sector SPDRs Contact: Dan Dolan* Address: 1290 Broadway, Suite 1000, Denver, CO 80203 Country: United States Email: dan.dolan@sectorspdrs.com Website: https://www.sectorspdrs.com/ *Dan Dolan is a Registered Representative of ALPS Portfolio Solutions Distributor, Inc. ALPS Portfolio Solutions Distributor, Inc., a registered broker-dealer, is the distributor for the Select Sector SPDR Trust. SEL008298 EXP 5/31/25 Contact Details Dan Dolan +1 203-935-8103 dan.dolan@sectorspdrs.com Company Website https://www.sectorspdrs.com/

April 02, 2025 05:00 AM Eastern Daylight Time

Mid-Sized Data Centers Are Winning the Communications Battle While Many Industry Leaders Fall Behind

Hot Paper Lantern

Hot Paper Lantern (HPL), an integrated communications and marketing agency that helps brands build their reputations, create meaningful impact, and generate growth, released its latest data center industry study, "Who's Owning the Conversation?" The study analyzed over 35 companies spanning three key verticals: data center operators, cooling technology vendors, and network service providers. Data Center Operators included in the study: Aligned Data Centers • CloudHQ • Cologix • Compass Datacenters • COPT • CoreSite • DataBank • Digital Core REIT • EdgeConneX • Evoque Data Center Solutions • Flexential • OVHcloud • QTS Data Centers • Sabey Data Centers • STACK Infrastructure • Switch Inc. • Tencent Cloud • Vantage Data Centers Cooling Technology Vendors included in the study: Amana Heating & Air • American Standard • Bryant Heating & Cooling • Goodman Manufacturing • Heil Heating & Cooling • Nortek Global • Rheem • Rudd Heating & Cooling • York Air Conditioning • York International Network Service Providers included in the study: Adtran • Allied Telesis • Calix • Cambium Networks • D-Link • Inseego • MikroTik • TP-Link • Viavi Solutions • Zyxel Communications The research examines how these companies are shaping the mid-market narrative, identifies key areas for improvement, and offers data-driven strategies to help companies drive meaningful engagement. While some organizations take a proactive approach to their external communications by leveraging social media and media relations, others remain passive and allow third parties to shape their company’s narrative. This contrast sparks critical questions about how key sectors engage with their stakeholders and whether or not they will fully capitalize on the opportunities presented by the data center industry's unprecedented growth. "Data center operators have assumed that by just being active to generate some form of media coverage alone, this will translate to having a strong reputation. Our research proves that this is not the case. If you are not actively shaping your own story, someone else will do it for you, and often not in your favor," said Ed Moed, chief executive officer at Hot Paper Lantern. "The data center industry has grown exponentially in recent years, fueled by massive investments, technological advancement, and industry demand. Many companies have relied on that growth to define their value in the market, but as competition increases, a strong and strategic narrative is what will set organizations apart." Key Insights from the Study: Public Perception Doesn't Always Align with Coverage Volume – More coverage does not always translate to a stronger reputation. Nearly 10% of all social media conversations about the data center industry are negative. However, over 80% of that negativity comes from just two companies, and both are among the most active on social media. Their outsized presence has amplified criticism, highlighting the risks of lacking a strategic online narrative. Mid-Tier Operators Punch Above Their Weight in Influence — Despite having smaller budgets, some mid-tier data centers generate outsized impact. Based on revenue, the bottom half of companies analyzed averaged 7x more coverage and 15x more engagement, demonstrating the power of strategic messaging. Cooling Technology Vendors Are Missing Their Storytelling Opportunity — With sustainability and energy efficiency becoming critical topics, cooling providers remain surprisingly underrepresented in industry conversations. Ninety percent of cooling brands generate fewer than 500 media mentions across major platforms, creating a massive opportunity for those willing to participate in the discussion. Network Providers Are Failing to Engage the Data Center Audience — Despite playing a crucial role in data center operations, many network providers struggle to connect with their target audience. Most rely on generic product announcements rather than crafting narratives that will resonate with data center decision-makers. As a result, the top 40% of network providers account for 95% of the industry's digital visibility, leaving the majority with little influence in the conversation. "Cooling and network providers have expanded alongside the data center industry, yet their voice in industry discussions has not kept pace," said Moed. "As artificial intelligence accelerates demand for advanced infrastructure, these sectors must step forward. The companies that fail to establish themselves as industry leaders risk being overlooked, while those that actively shape the conversation will define the next phase of innovation and growth." For more details on the "Who's Owning the Conversation?" study, view the report here. HPL will continue tracking industry trends and key players, releasing quarterly reports about the evolving conversation. To stay informed on the latest findings and updates, visit www.hotpaperlantern.com and sign up for future reports. Hot Paper Lantern (HPL) is a New York City-based integrated communications and marketing agency that helps brands build their reputations, create meaningful impact, and generate growth. HPL partners with clients to find, engage, and form deeper connections with key audiences and stakeholders. For more information, visit www.hotpaperlantern.com. Contact Details Hot Paper Lantern emoed@hotpaperlantern.com Company Website https://hotpaperlantern.com/

April 01, 2025 10:00 AM Eastern Daylight Time

Select Sector SPDR ETFs: Strategic Investment with Sector-Specific Allocations

Select Sector SPDR

In the ever-evolving world of financial markets, Select Sector SPDR ETFs offer sector-specific allocations designed to help investors align their portfolios with specific economic areas. By dissecting the expansive S&P 500 into key sectors, Select Sector SPDR ETFs provide a streamlined approach for both individual and institutional investors to craft targeted and strategic investment portfolios. An Era of Focused Investing With the volatility and rapid shifts in today's markets, investors are increasingly seeking ways to refine their strategies and enhance their portfolios. Select Sector SPDR ETFs offer a practical solution by breaking down the broad landscape of the S&P 500 into accessible segments. This sector-focused strategy not only accommodates varied investment goals but also aligns with specific risk tolerances and market perspectives. Explore the Holdings of Select Sector SPDR ETFs The Select Sector SPDR ETFs cover a wide array of economic sectors, each designed to target specific areas of interest. Communication Services Select Sector SPDR Fund (XLC): Focuses on telecommunications and media, capturing the innovations in digital communication. Consumer Discretionary Select Sector SPDR Fund (XLY): Encompasses companies involved in non-essential goods and services, including luxury items and entertainment. Consumer Staples Select Sector SPDR Fund (XLP): Targets essential consumer goods and services, offering stability amidst market fluctuations. Energy Select Sector SPDR Fund (XLE): Covers the dynamic energy sector, from traditional oil and gas to renewable energies. Financials Select Sector SPDR Fund (XLF): Includes banking, investment, and insurance industries, essential for economic infrastructure. Health Care Select Sector SPDR Fund (XLV): Dedicated to pharmaceuticals, healthcare equipment, and services, addressing global health challenges. Industrials Select Sector SPDR Fund (XLI): Focuses on manufacturing, construction, and aerospace sectors. Materials Select Sector SPDR Fund (XLB): Encompasses mining, construction materials, and packaging industries. Real Estate Select Sector SPDR Fund (XLRE): Targets commercial real estate services and Real Estate Investment Trusts (REITs). Technology Select Sector SPDR Fund (XLK): Capitalizes on innovation in information technology, semiconductors, and electronics. Utilities Select Sector SPDR Fund (XLU): Centers on electricity and natural gas sectors, ensuring the flow of essential services. Strategic Investment for a Dynamic Market Select Sector SPDR ETFs not only provide a transparent and straightforward method to navigate sector-specific investments, but also offer a powerful tool for strategic portfolio management. As market conditions continue to evolve, these ETFs enable investors to adapt their strategies, ensuring robust and adaptive portfolios that cater to diverse needs. By offering a detailed lens into specific sectors, Select Sector SPDR ETFs stand as a testament to the power of targeted investment. Through dedicated sector analysis and exposure, investors are equipped to thrive amidst the ebb and flow of market dynamics. DISCLAIMER: This is a work of research and should not be taken as investment or financial advice. Therefore, Select Sector SPDRs or the publisher is not liable for any decision made based on the publication. About the Company: Select Sector SPDR ETFs offer flexibility and customization opportunities. Many investors have similar outlooks, but no two are exactly alike. Select Sector SPDR ETFs let investors select the sectors that best meet their investment goals. DISCLOSURES The S&P 500 Index is an unmanaged index of 500 common stocks that is generally considered representative of the U.S. stock market. The index is heavily weighted toward stocks with large market capitalizations and represents approximately two-thirds of the total market value of all domestic common stocks. The S&P 500 Index figures do not reflect any fees, expenses or taxes. An investor should consider investment objectives, risks, fees and expenses before investing. One may not invest directly in an index. Transparent ETFs provide daily disclosure of portfolio holdings and weightings All ETFs are subject to risk, including loss of principal. Sector ETF products are also subject to sector risk and nondiversification risk, which generally will result in greater price fluctuations than the overall market. Diversification does not eliminate risk. An investor should consider investment objectives, risks, charges and expenses carefully before investing. To obtain a prospectus, which contains this and other information, call 1-866-SECTOR-ETF (732-8673) or visit www.sectorspdrs.com. Read the prospectus carefully before investing. ALPS Portfolio Solutions Distributor, Inc., a registered broker-dealer, is distributor for the Select Sector SPDR Trust. Media Contact: Company: Select Sector SPDRs Contact: Dan Dolan* Address: 1290 Broadway, Suite 1000, Denver, CO 80203 Country: United States Email: dan.dolan@sectorspdrs.com Website: https://www.sectorspdrs.com/ *Dan Dolan is a Registered Representative of ALPS Portfolio Solutions Distributor, Inc. ALPS Portfolio Solutions Distributor, Inc., a registered broker-dealer, is the distributor for the Select Sector SPDR Trust. SEL008271 EXP 5/31/25 Contact Details Dan Dolan +1 203-935-8103 dan.dolan@sectorspdrs.com Company Website https://www.sectorspdrs.com/

March 12, 2025 05:00 AM Eastern Daylight Time

Ballast Rock Announces 2024 Performance Data for its Sunbelt Multifamily Funds I and II

Ballast Rock

Ballast Rock, the diversified investment management firm, today announced 2024 year-end performance of Sunbelt Multifamily Funds I and II. Ballast Rock launched Sunbelt Multifamily Fund I (SB1) in 2019 and between February 2019 and January 2021 acquired nine properties totaling 1,110 apartment units for $63,630,000. SB1 began dispositions in early 2022, generating gross proceeds of $70,550,000 from the first five properties sold. The 689 apartment units involved were acquired at an average cost of $52,387 per unit and sold at an average cost of $102,395 per unit. Thus far SB1 has made a total of $50,768,242 of investor distributions on $32,000,000 of equity invested in the fund. Ballast Rock anticipates exiting the remaining four assets in SB1 opportunistically over the next 12 to 18 months. Sunbelt Multifamily Fund II (SB2), which launched in 2021, closed the acquisition of its final asset in early 2023, acquiring nine properties totaling 1,049 units for $105,363,000. SB2 generated cash from operations for its investors of 7% in 2024. The fund maintained an average capitalization rate of 7.0% for the year, with 6.85% in the first half and 7.15% in the second half of 2024. SB2 paid 7.5% from income to investors in 2021, 7.5% from income in 2022, 7.0% from income in 2023, and now will have paid 7% to investors in 2024 from income. Thus far SB2 has made a total of $10,500,00 of investor distributions on approximately $52,500,000 of equity invested in the fund. SB2 made its first property disposition in February 2025 and anticipates exiting its remaining assets opportunistically over the next 24 months. “The environment for multifamily real estate remained challenging during 2024,” said Thomas Carroll, Chief Executive Officer of Ballast Rock. “We hear from our investors about other private equity real estate funds that are not paying distributions and, in some cases, even making additional capital calls from existing investors. Given that backdrop, we were pleased that our focus, diligence and discipline has delivered results for our investors. This performance is a shared success, as all our principals invest our own capital alongside our investors, aligning our interests, and delivering safe, clean, and affordable homes for residents in our communities.” After almost two years of actively underwriting workforce multifamily assets in the southeast, Ballast Rock launched Sunbelt Multifamily III (SB3) with its first acquisition in July 2024. Ballast Rock’s Atlanta-based real estate team continues to underwrite and diligence properties to identify the next acquisition that meets SB3’s strict qualitative and quantitative investing standards. SB3 target size is $100 million in equity. “We believe that our focus on workforce housing in the Southeast is the right strategy, and we anticipate that there will be excellent opportunities to acquire the right properties at attractive valuations in the coming months,” said Ian Garcia, Chief Operating Officer of Ballast Rock Real Estate. “We will continue to actively underwrite assets, but we will never sacrifice our diligence or discipline.” About Ballast Rock Group Ballast Rock Group is an integrated investment management company specializing in delivering risk-adjusted returns, accurate, and timely advice, high quality frequent reporting, and direct access to management. Ballast Rock Group operates Ballast Rock Asset Management, Ballast Rock Private Wealth, and Ballast Rock Capital. Ballast Rock Asset Management comprises Ballast Rock Real Estate, which includes the firm’s Sunbelt multifamily real estate funds, and Ballast Rock Ventures, comprising venture capital and private equity teams. Ballast Rock Private Wealth is a registered investment advisor, with a focus on alternative strategies. Ballast Rock Capital is a FINRA-registered broker-dealer. Ballast Rock is committed to being a driver of positive change. The diversity of our team members brings valuable new perspectives to our industry for the benefit of our stakeholders and the broader community. Investment Disclosure The information contained in this press release has been prepared by Ballast Rock Holdings LLC (“Ballast Rock”) without reference to any particular reader’s investment requirements or financial situation. Potential investors are encouraged to consult with professional tax, legal, and financial advisors before making any investment into a private offering of securities. An investment in private securities would be speculative and would involve a high degree of risk. Investors must be prepared to bear the economic risk of such an investment for an indefinite period of time and be able to withstand a total loss of their investment. Please carefully consider the investment objectives, risks, transaction costs, and other expenses related to an investment prior to deciding to invest. Ballast Rock Capital LLC (“BRC”), MEMBER: FINRA / SIPC. BRC’s registered head office is 460 King Street, Suite 200, Charleston, SC, 29403. Tel: 800-204-2513. To check background information about BRC and its representatives, visit FINRA’s BrokerCheck. Please see important disclosure information in our Form CRS. Contact Details For Ballast Rock Lisa Aldape, Vocatus laldape@vocatusllc.com Company Website https://www.ballastrock.com/

February 20, 2025 02:29 PM Eastern Standard Time

NAVEX One: The Trusted Partner for NIS2 Risk Alignment

NAVEX Global

NAVEX, the global leader in integrated risk and compliance management software, is pleased to offer the first GRC solution to holistically address NIS2 across training, policies and assessment – all on one platform, NAVEX One. NAVEX continues to provide risk and compliance professionals with the tools they need to align with the latest cybersecurity regulations. As organizations face increasing regulatory demands, NAVEX One integrates policy management, training and risk assessment resources to ensure seamless compliance with the European Union’s Network and Information Security Directive (NIS2). The NIS2 Directive raises the bar for cybersecurity and reporting standards across industries, including banking, healthcare, manufacturing and energy. Organizations must not only comply with these heightened regulations but also ensure their cybersecurity frameworks are strong enough to withstand evolving threats. “NIS2 is a critical milestone in cybersecurity regulation, and organizations need a partner that helps them do more than just check the compliance box,” said A.G. Lambert, chief product officer at NAVEX. “NAVEX One empowers compliance and risk professionals to build a sustainable and proactive approach to cybersecurity, ensuring their programs are compliant and resilient against emerging threats.” NAVEX One serves as an essential tool in the journey toward risk and compliance maturity, helping organizations: Conduct proactive risk assessments to identify and mitigate vulnerabilities Centralize and streamline policy management to meet regulatory expectations Strengthen cybersecurity posture with comprehensive security awareness training Stay ahead of evolving cybersecurity requirements through continuous program improvement and board-ready reporting Extend training, policies and cyber risk practices to align third parties with its cyber risk standards “Organizations today require more than just static risk and compliance checklists—they need dynamic, integrated solutions that evolve with regulatory changes and emerging risks,” said Kyle Martin, vice president of risk solutions at NAVEX. “NAVEX One’s content and capabilities give businesses the confidence to proactively address NIS2 requirements while reinforcing their broader risk management strategies.” By integrating these capabilities within a single platform, NAVEX One simplifies compliance, reduces risk exposure, and supports organizations in building future-proof compliance programs. Click here, for more information on NAVEX One and the NIS2 Directive. NAVEX is trusted by thousands of customers worldwide to help them achieve the business outcomes that matter most. As the global leader in integrated risk and compliance management software and services, we deliver solutions through the NAVEX One platform, the industry’s most comprehensive governance, risk and compliance (GRC) information system. For more information, visit NAVEX.com and our blog. Follow us on Twitter and LinkedIn. Contact Details Navex Global scott.levesque@navex.com Company Website https://navex.com

February 18, 2025 12:50 PM Eastern Standard Time

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