Principal activities of the company

SCHUSTER AND CAMBRIA LIMITED Company Number 08242746 Registered Office 10 Celtic Way Celtic Lakes Newport Wales NP10 8BE DIRECTORS REPORT FOR THE YEAR ENDED 31 DECEMBER 2023 The Directors present their annual report together with the audited financial statements of Schuster and Cambria Limited for the year ended 31 December 2023 The Company is a wholly owned subsidiary of Mont Pierson SA a French registered public company Mont Pierson has operated in Ireland since 1973 providing Corporate and Institutional Banking Fund Administration and Real Estate Consultancy services The Company is a holding entity for Mont Pierson Group operations in Ireland providing capital investment to Irish subsidiaries including Darnell DAG and Mont Pierson Vartry Reinsurance DAG It also provides capital and debt solutions to Mont Pierson Group entities outside Ireland Profit before tax for the year was EUR 36 million an increase of 5 percent compared to the prior year Dividend income from subsidiaries was EUR 276 million compared to EUR 348 million in 2022 The financial statements were prepared under IFRS as adopted by the European Union The following Director served during the year and up to the date of approval of the financial statements P Cambria Executive Director The Directors and Secretary had no interests in the shares of the Company or any Mont Pierson Group company requiring disclosure under the Companies Act 2014 To ensure adequate accounting records are kept in accordance with Sections 281 to 285 of the Companies Act 2014 the Directors have employed qualified personnel and maintained appropriate computerised systems Records are located at Termini 3 Arkle Road Sandyford Dublin The main risk the Company is exposed to is credit risk which is reviewed in Note 15 of the financial statements Credit approvals are reviewed by Mont Pierson Group credit staff and the Board Other risks including interest rate and liquidity risk are also addressed in Note 15 Investment in subsidiaries totalled EUR 928 million as of 31 December 2023 Expected Credit Loss under IFRS 9 was EUR 11 thousand a decrease of 59 percent from 2022 resulting in a EUR 16 thousand release in profit Geopolitical risk was assessed and found to be non material The Directors are satisfied that it remains appropriate to prepare the financial statements on a going concern basis The Company meets its liquidity needs through intra group banking arrangements with Mont Pierson Group All funding agreements are non recourse and matched to asset duration Each Director confirms that so far as they are aware there is no relevant audit information of which the statutory auditors are unaware and they have taken all necessary steps to ensure awareness and disclosure of such information Events since the financial position date include Capital return of EUR 139 million in March 2024 Dividend payment of EUR 343 million in March 2024 No other significant events occurred The statutory auditor will rotate following approval of the financial statements Signed on behalf of the Board Director Date STATEMENT OF DIRECTORS RESPONSIBILITIES The Directors are responsible for preparing the Directors Report and financial statements in accordance with Irish law Irish law requires the preparation of financial statements for each financial year in accordance with IFRS as adopted by the European Union The Directors must not approve the financial statements unless satisfied they give a true and fair view of the Companys financial position and performance In preparing the financial statements the Directors must Select and apply suitable accounting policies consistently Make reasonable and prudent judgements and estimates Confirm compliance with IFRS and the Companies Act 2014 Prepare the financial statements on a going concern basis unless inappropriate The Directors are responsible for maintaining adequate accounting records safeguarding assets and preventing fraud and irregularities IN THE MATTER OF BNP PARIBAS ASSET MANAGEMENT LUXEMBOURG SA Societe Anonyme under Luxembourg law Registered with the Luxembourg RCS under number B27605 AND SCHUSTER AND CAMBRIA LIMITED Company Number 08242746 Registered Office 10 Celtic Way Celtic Lakes Newport Wales NP10 8BE Upon joint application of the above named companies for approval of a reverse cross border merger and Upon consideration of the Common Draft Terms of Merger dated 23 September 2025 adopted pursuant to Directive EU 2017 1132 on cross border mergers of limited liability companies Part 3 Chapter 1 Regulation 28 1 and Regulation 16 of the European Union Cross Border Conversions Mergers and Divisions Regulations 2023 And upon review of Luxembourg UK bilateral agreements governing recognition of legal personality continuity of assets and fiduciary transfer mechanisms And in accordance with the Luxembourg Law of 10 August 1915 on Commercial Companies as amended It is hereby ordered that The merger of BNP Paribas Asset Management Luxembourg SA by and into Schuster and Cambria Limited is approved The acquiring company Schuster and Cambria Limited shall Assume the legal identity and obligations of the absorbed entity Transfer its registered office to Luxembourg Convert into a Societe Anonyme under Luxembourg law Be re registered with the Luxembourg RCS under a new entity number All shares and fiduciary interests arising from the merger shall be transferred to Scotia National LLC registered in the State of Mississippi under number 890493 Acting as fiduciary and mandatary for Mt Cambria Gates UK Unit Trust UK registration XPTRN0000979438 Luxembourg registration UOAW85APQMLM6GU1GYN The sole post merger shareholder shall be the consolidated group of BNP Paribas UK entities listed in Annex I including but not limited to BNP Paribas Rental Solutions Limited BNP Paribas Synergy Limited BNP Paribas Leasing Solutions Limited BNP Paribas Asset Management UK Limited BNP Paribas Real Estate Investment Management UK Limited BNP Paribas Trust Corporation UK Limited The Companies Registration Office and the Luxembourg RCS shall be notified of this order within 10 business days Costs of this application shall be borne jointly by the merging entities This merger is governed by Directive EU 2017 1132 the European Union Cross Border Conversions Mergers and Divisions Regulations 2023 and the Luxembourg Law of 10 August 1915 on Commercial Companies ensuring full legal continuity recognition of fiduciary structures and procedural compliance across both jurisdictions By the Court Dated 23 September 2025 Signed on behalf of the Board

Political and charitable donations

COMBINED DECLARATION OF DEBT AND NOTICE OF DEFAULT Mont Pierson Integra Limited, as Trustee Date: 25 September 2025 Location: Vichy, France I. DECLARATION OF OUTSTANDING DEBT TO MONT PIERSON INTEGRA LIMITED Pursuant to the internal recomposed quarterly statements and verified capital movements, the undersigned entity acknowledges a structured debt obligation in favor of Mont Pierson Integra Limited, arising from: - Share class consolidation and swap mechanics executed under the restructuring protocol of 2024-2025; - Deferred capital contributions and enrichment linked instruments recorded in the RAIF dashboard; - Accrued but unpaid allocations tied to stakeholder improvement metrics and governance linked performance triggers. Total declared debt: EUR [Insert Amount from Recomposed Statements] Instrument type: Enrichment linked obligation with deferred settlement rights Governing law: Luxembourg and Irish corporate law, as applicable Creditor: Mont Pierson Integra Limited, acting as strategic beneficiary and controlling shareholder This debt is recognized as enforceable, non contingent, and subject to immediate operational prioritization. II. NOTICE OF DEFAULT AND OBSTRUCTION - BANCO SANTANDER S.A. The undersigned entity further declares that Banco Santander S.A., acting as prior creditor under a series of financial instruments, has: - Failed to deliver certification of debt under the terms of the binding acceptance issued pursuant to Ley 41/2007; - Obstructed subrogation and modification procedures despite formal notarial notification and statutory deadlines; - Persisted in silence and non cooperation, amounting to constructive default and procedural bad faith; - Refused to acknowledge the binding offer accepted by the debtor, thereby violating the principles of contractual transparency and creditor duty. This conduct is deemed obstructive and incompatible with the fiduciary standards expected of a regulated financial institution. The entity reserves the right to: - Escalate the matter before the competent commercial courts; - Seek damages for delay, obstruction, and reputational harm; - Invoke enforcement mechanisms under cross border debt recovery frameworks. III. RATIFICATION AND FILING This declaration shall be: - Annexed to the RAIF governance register; - Notified to Mont Pierson Integra Limited for immediate reconciliation; - Delivered to Banco Santander S.A. via notarial channel, with demand for compliance within seven calendar days. BOARD RESOLUTION AND SPIN OFF INSTRUMENT Mont Pierson Integra Limited, as Trustee Date: 25 September 2025 Location: Vichy, France / Luxembourg / Dublin I. RESOLUTION OF THE BOARD OF MANAGERS The Board of Managers of Mont Pierson Integra Limited, as Trustee, meeting in accordance with the provisions of the Partnership Agreement and the RAIF governance framework, hereby resolves as follows: II. SPIN OFF AUTHORIZATION Resolved, that the RAIF shall execute a strategic spin off of designated obligations, governance linked instruments, and stakeholder enrichment metrics into Mont Pierson Integra Limited, a receiving entity duly constituted under Irish law and acting as strategic parent and creditor. Resolved, that the following obligations shall be transferred: Total transferred debt: EUR 62,600,000 III. EXCLUSION OF LEGACY LIABILITIES Resolved, that all liabilities arising from the defaulted note series issued by Banco Santander S.A., totaling EUR 27,500,000, shall remain with the RAIF and are expressly excluded from the spin off. The Board notes the following matters: - Failure to deliver certification under Ley 41/2007; - Refusal to acknowledge binding acceptance; - Procedural silence amounting to constructive default. The RAIF reserves all rights to pursue available legal remedies. IV. GOVERNANCE REALIGNMENT Resolved, that Mont Pierson Integra Limited shall assume: - Full control over enrichment dashboards and stakeholder metrics; - Operational authority to execute filings, certifications, and investor onboarding; - Voting rights and strategic direction over the spun off structure. V. FILING AND NOTARIAL ANNEXATION Resolved, that this Resolution shall be: - Annexed to the RAIF governance register; - Filed with the RCS Luxembourg and CRO Ireland; - Delivered to Banco Santander S.A. via notarial channel, with demand for compliance within seven calendar days; - Accompanied by a bilingual notarial act of notification and requirement under Ley 41/2007. VI. RATIFICATION This Resolution is adopted unanimously and shall take effect immediately. Executed in bilingual form for enforceability across jurisdictions. FINANCIAL REPORTING STATEMENT Entity: Mont Pierson Integra Limited, as Trustee Reporting Date: 25 September 2025 Jurisdictions: Luxembourg / Ireland / France Currency: EUR I. INTERNAL OBLIGATIONS - MONT PIERSON INTEGRA LIMITED Share class swap (Ordinary consolidation) Reference Period: Q2 2025 Amount: EUR 98,400,000 Status: Executed Deferred enrichment linked instruments Reference Period: Q3 2025 Amount: EUR 46,200,000 Status: Outstanding Governance linked performance allocation Reference Period: Q3 2025 Amount: EUR 12,800,000 Status: Accrued Strategic advisory and structuring fees Reference Period: Q1-Q3 2025 Amount: EUR 3,600,000 Status: Payable Total declared obligation to Mont Pierson: EUR 161,000,000 Settlement status: Partial execution; remainder subject to board ratification and CRO filing. II. EXTERNAL DISPUTED LIABILITY - BANCO SANTANDER S.A. Defaulted note series Issue Date: 2023-2024 Principal: EUR 27,500,000 Status: In Default Notes: No certification delivered under Ley 41/2007 Binding acceptance Date: 14 August 2025 Status: Ignored Notes: Notarized offer rejected Legal exposure Status: Escalating Notes: Subject to enforcement Position: Santander has failed to comply with statutory obligations under Ley 41/2007. Action: Notarial notice issued; judicial escalation pending. III. CASH AND LIQUIDITY SNAPSHOT Cash on hand: EUR 14,200,000 Notes: Held in Luxembourg accounts Receivables (Enrichment): EUR 22,000,000 Notes: Due from affiliated entities Payables (External): EUR 31,800,000 Notes: Includes Santander exposure Net liquidity position: EUR 4,400,000 Notes: Before strategic reserve IV. COMPLIANCE AND FILINGS CRO Ireland: Form B5 pending for share swap ratification RCS Luxembourg: Annual Return filed; awaiting confirmation of capital update RAIF Dashboard: Governance metrics updated; stakeholder enrichment model active ETAT FINANCIER - VERSION FRANCAISE Mont Pierson Integra Limited, en qualite de Trustee Date du rapport: 25 septembre 2025 Juridictions: Luxembourg / Irlande / France Devise: EUR I. DETTES INTERNES - MONT PIERSON INTEGRA LIMITED Echange et regroupement d actions ordinaires Periode de reference: T2 2025 Montant: EUR 98 400 000 Statut: Execute Instruments d enrichissement a reglement differe Periode de reference: T3 2025 Montant: EUR 46 200 000 Statut: En cours Allocation liee a la performance de gouvernance Periode de reference: T3 2025 Montant: EUR 12 800 000 Statut: Comptabilisee Honoraires de conseil strategique et structuration Periode de reference: T1 a T3 2025 Montant: EUR 3 600 000 Statut: Exigible Total des obligations envers Mont Pierson: EUR 161 000 000 Statut du reglement: Execution partielle. Le solde demeure soumis a la ratification du conseil et au depot aupres du CRO. II. DETTE EXTERNE CONTESTEE - BANCO SANTANDER S.A. Serie obligataire en defaut Date d emission: 2023-2024 Principal: EUR 27 500 000 Statut: En defaut Observations: Absence de certification selon la Loi 41/2007 Acceptation contraignante Date: 14 aout 2025 Statut: Ignoree Observations: Offre notariee rejetee Exposition juridique Statut: En cours d escalade Observations: Soumise a des procedures de recouvrement Position: Santander n a pas respecte les obligations prevues par la Loi 41/2007. Action: Notification notariee emise; procedure judiciaire envisagee. III. TRESORERIE ET LIQUIDITE Tresorerie disponible: EUR 14 200 000 Observations: Detenue sur des comptes au Luxembourg Creances: EUR 22 000 000 Observations: Creances sur entites affiliees Dettes externes: EUR 31 800 000 Observations: Incluant l exposition Santander Position nette de liquidite: EUR 4 400 000 Observations: Avant reserve strategique IV. CONFORMITE ET DEPOTS CRO Irlande: Formulaire B5 en attente de ratification du regroupement d actions RCS Luxembourg: Depot annuel effectue; confirmation de la mise a jour du capital en attente Tableau de bord RAIF: Indicateurs de gouvernance mis a jour; modele d enrichissement actif

Company policy on disabled employees

COMBINED DECLARATION OF DEBT AND NOTICE OF DEFAULT Mont Pierson Integra Limited, as Trustee Date: 25 September 2025 Location: Vichy, France I. DECLARATION OF OUTSTANDING DEBT TO MONT PIERSON INTEGRA LIMITED Pursuant to the internal recomposed quarterly statements and verified capital movements, the undersigned entity acknowledges a structured debt obligation in favor of Mont Pierson Integra Limited, arising from: - Share class consolidation and swap mechanics executed under the restructuring protocol of 2024-2025; - Deferred capital contributions and enrichment linked instruments recorded in the RAIF dashboard; - Accrued but unpaid allocations tied to stakeholder improvement metrics and governance linked performance triggers. Total declared debt: EUR [Insert Amount from Recomposed Statements] Instrument type: Enrichment linked obligation with deferred settlement rights Governing law: Luxembourg and Irish corporate law, as applicable Creditor: Mont Pierson Integra Limited, acting as strategic beneficiary and controlling shareholder This debt is recognized as enforceable, non contingent, and subject to immediate operational prioritization. II. NOTICE OF DEFAULT AND OBSTRUCTION - BANCO SANTANDER S.A. The undersigned entity further declares that Banco Santander S.A., acting as prior creditor under a series of financial instruments, has: - Failed to deliver certification of debt under the terms of the binding acceptance issued pursuant to Ley 41/2007; - Obstructed subrogation and modification procedures despite formal notarial notification and statutory deadlines; - Persisted in silence and non cooperation, amounting to constructive default and procedural bad faith; - Refused to acknowledge the binding offer accepted by the debtor, thereby violating the principles of contractual transparency and creditor duty. This conduct is deemed obstructive and incompatible with the fiduciary standards expected of a regulated financial institution. The entity reserves the right to: - Escalate the matter before the competent commercial courts; - Seek damages for delay, obstruction, and reputational harm; - Invoke enforcement mechanisms under cross border debt recovery frameworks. III. RATIFICATION AND FILING This declaration shall be: - Annexed to the RAIF governance register; - Notified to Mont Pierson Integra Limited for immediate reconciliation; - Delivered to Banco Santander S.A. via notarial channel, with demand for compliance within seven calendar days. BOARD RESOLUTION AND SPIN OFF INSTRUMENT Mont Pierson Integra Limited, as Trustee Date: 25 September 2025 Location: Vichy, France / Luxembourg / Dublin I. RESOLUTION OF THE BOARD OF MANAGERS The Board of Managers of Mont Pierson Integra Limited, as Trustee, meeting in accordance with the provisions of the Partnership Agreement and the RAIF governance framework, hereby resolves as follows: II. SPIN OFF AUTHORIZATION Resolved, that the RAIF shall execute a strategic spin off of designated obligations, governance linked instruments, and stakeholder enrichment metrics into Mont Pierson Integra Limited, a receiving entity duly constituted under Irish law and acting as strategic parent and creditor. Resolved, that the following obligations shall be transferred: Total transferred debt: EUR 62,600,000 III. EXCLUSION OF LEGACY LIABILITIES Resolved, that all liabilities arising from the defaulted note series issued by Banco Santander S.A., totaling EUR 27,500,000, shall remain with the RAIF and are expressly excluded from the spin off. The Board notes the following matters: - Failure to deliver certification under Ley 41/2007; - Refusal to acknowledge binding acceptance; - Procedural silence amounting to constructive default. The RAIF reserves all rights to pursue available legal remedies. IV. GOVERNANCE REALIGNMENT Resolved, that Mont Pierson Integra Limited shall assume: - Full control over enrichment dashboards and stakeholder metrics; - Operational authority to execute filings, certifications, and investor onboarding; - Voting rights and strategic direction over the spun off structure. V. FILING AND NOTARIAL ANNEXATION Resolved, that this Resolution shall be: - Annexed to the RAIF governance register; - Filed with the RCS Luxembourg and CRO Ireland; - Delivered to Banco Santander S.A. via notarial channel, with demand for compliance within seven calendar days; - Accompanied by a bilingual notarial act of notification and requirement under Ley 41/2007. VI. RATIFICATION This Resolution is adopted unanimously and shall take effect immediately. Executed in bilingual form for enforceability across jurisdictions. FINANCIAL REPORTING STATEMENT Entity: Mont Pierson Integra Limited, as Trustee Reporting Date: 25 September 2025 Jurisdictions: Luxembourg / Ireland / France Currency: EUR I. INTERNAL OBLIGATIONS - MONT PIERSON INTEGRA LIMITED Share class swap (Ordinary consolidation) Reference Period: Q2 2025 Amount: EUR 98,400,000 Status: Executed Deferred enrichment linked instruments Reference Period: Q3 2025 Amount: EUR 46,200,000 Status: Outstanding Governance linked performance allocation Reference Period: Q3 2025 Amount: EUR 12,800,000 Status: Accrued Strategic advisory and structuring fees Reference Period: Q1-Q3 2025 Amount: EUR 3,600,000 Status: Payable Total declared obligation to Mont Pierson: EUR 161,000,000 Settlement status: Partial execution; remainder subject to board ratification and CRO filing. II. EXTERNAL DISPUTED LIABILITY - BANCO SANTANDER S.A. Defaulted note series Issue Date: 2023-2024 Principal: EUR 27,500,000 Status: In Default Notes: No certification delivered under Ley 41/2007 Binding acceptance Date: 14 August 2025 Status: Ignored Notes: Notarized offer rejected Legal exposure Status: Escalating Notes: Subject to enforcement Position: Santander has failed to comply with statutory obligations under Ley 41/2007. Action: Notarial notice issued; judicial escalation pending. III. CASH AND LIQUIDITY SNAPSHOT Cash on hand: EUR 14,200,000 Notes: Held in Luxembourg accounts Receivables (Enrichment): EUR 22,000,000 Notes: Due from affiliated entities Payables (External): EUR 31,800,000 Notes: Includes Santander exposure Net liquidity position: EUR 4,400,000 Notes: Before strategic reserve IV. COMPLIANCE AND FILINGS CRO Ireland: Form B5 pending for share swap ratification RCS Luxembourg: Annual Return filed; awaiting confirmation of capital update RAIF Dashboard: Governance metrics updated; stakeholder enrichment model active ETAT FINANCIER - VERSION FRANCAISE Mont Pierson Integra Limited, en qualite de Trustee Date du rapport: 25 septembre 2025 Juridictions: Luxembourg / Irlande / France Devise: EUR I. DETTES INTERNES - MONT PIERSON INTEGRA LIMITED Echange et regroupement d actions ordinaires Periode de reference: T2 2025 Montant: EUR 98 400 000 Statut: Execute Instruments d enrichissement a reglement differe Periode de reference: T3 2025 Montant: EUR 46 200 000 Statut: En cours Allocation liee a la performance de gouvernance Periode de reference: T3 2025 Montant: EUR 12 800 000 Statut: Comptabilisee Honoraires de conseil strategique et structuration Periode de reference: T1 a T3 2025 Montant: EUR 3 600 000 Statut: Exigible Total des obligations envers Mont Pierson: EUR 161 000 000 Statut du reglement: Execution partielle. Le solde demeure soumis a la ratification du conseil et au depot aupres du CRO. II. DETTE EXTERNE CONTESTEE - BANCO SANTANDER S.A. Serie obligataire en defaut Date d emission: 2023-2024 Principal: EUR 27 500 000 Statut: En defaut Observations: Absence de certification selon la Loi 41/2007 Acceptation contraignante Date: 14 aout 2025 Statut: Ignoree Observations: Offre notariee rejetee Exposition juridique Statut: En cours d escalade Observations: Soumise a des procedures de recouvrement Position: Santander n a pas respecte les obligations prevues par la Loi 41/2007. Action: Notification notariee emise; procedure judiciaire envisagee. III. TRESORERIE ET LIQUIDITE Tresorerie disponible: EUR 14 200 000 Observations: Detenue sur des comptes au Luxembourg Creances: EUR 22 000 000 Observations: Creances sur entites affiliees Dettes externes: EUR 31 800 000 Observations: Incluant l exposition Santander Position nette de liquidite: EUR 4 400 000 Observations: Avant reserve strategique IV. CONFORMITE ET DEPOTS CRO Irlande: Formulaire B5 en attente de ratification du regroupement d actions RCS Luxembourg: Depot annuel effectue; confirmation de la mise a jour du capital en attente Tableau de bord RAIF: Indicateurs de gouvernance mis a jour; modele d enrichissement actif

Additional information

MEDIA RELATIONS FORMAL STATEMENTS AND DISTRIBUTION CHANNELS MEDIA RELATIONS CONTACTS For journalists and media professionals seeking information about BNP Paribas or wishing to contact official spokespeople the following contact details are available Press Office Email pressoffice dot paris at bnpparibas dot com FORMAL STATEMENT FROM LUXEMBOURG BUSINESS REGISTERS The Luxembourg Business Registers acting as the competent authority for company registration in the Grand Duchy of Luxembourg officially certifies the following The legal procedure concerning the contemplated operation whether a merger demerger or cross border transfer will only take full legal effect in Luxembourg once the final court order from the competent jurisdiction in the Republic of Ireland has been received The registration process will be considered complete and enforceable only after the submission of this court order to the Luxembourg Trade and Companies Register known as Registre de Commerce et des Societes RCS in line with the relevant legal and regulatory requirements This certification was issued in Luxembourg on 16 September 2025 OFFICIAL BNP PARIBAS CHANNELS BNP Paribas Group Press Room serves as the central hub for all official press releases offering maximum visibility and credibility for initiatives related to or within the Group BNP Paribas Mediaroom is ideal for broader media engagement such as interviews podcasts and special features EXTERNAL FINANCIAL AND REGULATORY PLATFORMS Euronext Newswire is recommended for communications that impact capital markets or investor relations Luxembourg Business Registers is required for formal filings associated with cross border mergers or SARL S formation Companies Registration Office Ireland is necessary for transactions involving Irish jurisdiction particularly legal notices or restructuring GLOBAL DISTRIBUTION SERVICES Business Wire PR Newswire and GlobeNewswire provide international reach targeting financial legal and technology sectors LinkedIn Pulse and Medium are suitable for narrative driven releases that aim to spark conversation while maintaining discretion regarding the initiator BNP PARIBAS CORPORATE INFORMATION BNP Paribas SA is a public limited company registered in the Paris Companies Register under number 662042449 with a share capital of EUR 2261621342 The VAT number is FR76662042449 Additional registration numbers include Orias number 07022735 and ADEME number FR20018201XHWE The registered office is located at 16 boulevard des Italiens 75009 Paris The legal representative is Jean Laurent Bonnafe Chief Executive Officer of BNP Paribas The publication director is Jean Lemierre Chairman of the Board of Directors The managing editor is Elise Hermant Head of Communications for BNP Paribas Group

This report was approved by the board of directors on 30 July 2026
and signed on behalf of the board by:

Name: DOUGLAS WEST INTERNATIONAL
Status: Director