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ANN ARBOR, Mich. — Michigan's defense of the national championship has fallen woefully short. The Wolverines started the season ranked No. 9 in the AP Top 25, making them the third college football team since 1991 to be ranked worse than seventh in the preseason poll after winning a national title. Michigan (6-5, 4-4 Big Ten) failed to meet those modest expectations, barely becoming eligible to play in a bowl and putting the program in danger of losing six or seven games for the first time since the Brady Hoke era ended a decade ago. The Wolverines potentially can ease some of the pain with a win against rival and second-ranked Ohio State (10-1, 7-1, No. 2 CFP) on Saturday in the Horseshoe, but that would be a stunning upset. Ohio State is a 21 1/2-point favorite, according to the BetMGM Sportsbook, and that marks just the third time this century that there has been a spread of at least 20 1/2 points in what is known as "The Game." Michigan coach Sherrone Moore doesn't sound like someone who is motivating players with an underdog mentality. "I don't think none of that matters in this game," Moore said Monday. "It doesn't matter the records. It doesn't matter anything. The spread, that doesn't matter." How did Michigan end up with a relative mess of a season on the field, coming off its first national title since 1997? Winning it all with a coach and star player contemplating being in the NFL for the 2024 season seemed to have unintended consequences for the current squad. The Wolverines closed the College Football Playoff with a win over Washington on Jan. 8; several days later quarterback J.J. McCarthy announced he was skipping his senior season; and it took more than another week for Jim Harbaugh to bolt to coach the Los Angeles Chargers. In the meantime, most quality quarterbacks wanting to transfer had already enrolled at other schools and Moore was left with lackluster options. Davis Warren beat out Alex Orji to be the team's quarterback for the opener and later lost the job to Orji only to get it back again. No matter who was under center, however, would've likely struggled this year behind an offensive line that sent six players to the NFL. The Wolverines lost one of their top players on defense, safety Rod Moore, to a season-ending injury last spring and another one, preseason All-America cornerback Will Johnson, hasn't played in more than a month because of an injury. The Buckeyes are not planning to show any mercy after losing three straight in the series. "We're going to attack them," Ohio State defensive end Jack Sawyer said. "We know they're going to come in here swinging, too, and they've still got a good team even though the record doesn't indicate it. This game, it never matters what the records are." While a win would not suddenly make the Wolverines' season a success, it could help Moore build some momentum a week after top-rated freshman quarterback Bryce Underwood flipped his commitment from LSU to Michigan. "You come to Michigan to beat Ohio," said defensive back Quinten Johnson, intentionally leaving the word State out when referring to the rival. "That's one of the pillars of the Michigan football program. "It doesn't necessarily change the fact of where we are in the season, but it definitely is one of the defining moments of your career here at Michigan." AP Sports Writer Mitch Stacy in Columbus, Ohio, contributed to this report. Be the first to know Get local news delivered to your inbox!

As TikTok bill steams forward, online influencers put on their lobbying hats to visit Washington

Utah Offers Son of Five-Time All-Pro and former NFL Star

La. Senate passes tax cuts, temporary sales tax increaseKamala Harris’s deputy campaign manager, Rob Flaherty, admitted at a Harvard politics event Dec. 6 that the Democratic Party’s media outreach strategy is not only failing but failing miserably. During a panel discussion at the school’s Institute of Politics, Flaherty lamented his party and campaign’s failure to find voters who are not paying attention to corporate networks — CNN and MSNBC — and Hollywood A-listers from Diddy’s orbit . He also made an interesting comment about the Democratic Party being the “party of institutions,” which I think is true. The Democrats have become the staunch defenders of the status quo, whereas the Republican Party, under the leadership of President-elect Donald Trump, has become an insurgent force of change in the capital. (Stream Daily Caller’s documentary ‘Cleaning Up Kamala ’ HERE) Kamala’s deputy campaign manager Rob Flaherty just straight up admits the left’s “amplification ecosystem is the mainstream media and Hollywood.” “[They] don’t really mess with us.” pic.twitter.com/EGnREiFPds — Jake Schneider (@jacobkschneider) December 8, 2024 “For the left, our amplification ecosystem is the mainstream media and Hollywood, and the mainstream media and Hollywood don’t really mess with us — they’re not actually allies. And they’re not where these voters who don’t want to pay attention to politics are. We are sitting here at Harvard at a big event with the mainstream media. Voters out there that we actually needed to reach are not seeing this at all, and they’re not seeing mainstream media at all,” Flaherty said. “I think, fundamentally, we have a mismatch between the amplification engine of the left and the media of this moment, which is increasingly alternative, anti-establishment ... that presents a real issue for us, as the party of institutions, at a time when people really hate institutions,” he added. Flaherty is spot on, and most of us who do not dwell inside this liberal “amplification engine” knew all along that one of the Harris campaign’s biggest flaws was its inability to connect with voters through non-traditional means. In fact, the Democratic Party is so trapped inside its echo chamber that it may be almost impossible for them to escape. No one really wants to help them, either. They are like the alcoholic beyond saving, beyond intervention. They’re absolutely cooked, and no one is going to bend over backward to fix their wayward brand . (RELATED: Democrats Bud Lighted Their Entire Brand, And It’s Too Late To Save It) As Flaherty said, the moment in politics and media right now is alternative and anti-establishment . Unfortunately for the Democrats, they are the party of the mainstream and establishment. The only way they can revive themselves in the media world is if they abandon their platform altogether. For now, they will be stuck in their out-of-touch bubble, chattering among themselves. Did you enjoy this post? Consider checking out John’s full weekly newsletter, Mr. Right, available here: MrRight.DailyCaller.com

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If you are in the process of building an investment portfolio, then having a few ASX 200 in there could be a good starting point. But which blue chip shares could be buys? Let's take a look at four quality options that analysts currently rate as buys. They are as follows: ( ) Brambles could be an ASX 200 blue chip share to buy according to analysts. It is a supply chain solutions company that manages the world's largest pool of reusable pallets, crates, and containers. The team at Ord Minnett is bullish on the company. It believes that Brambles is well-placed for growth due partly to its Serialisation Plus plan, which is aiming to make its operations more efficient. The broker currently has a buy rating and $20.60 price target on Brambles' shares. ( ) Another ASX 200 blue chip share that could be a buy is Flight Centre. It is the travel company operating the iconic Flight Centre brand, as well as the Aunt Betty, Corporate Traveller, FCM, Stage & Screen, and Travel Associates brands. Macquarie is a fan of the company and believes that its shares are undervalued following recent weakness. Especially given its belief that things will get easier for Flight Centre as FY 2025 progresses following a soft start. The broker has an outperform rating and $22.34 price target on its shares. ( ) A third ASX 200 blue chip share that analysts are tipping as a buy is Goodman Group. It is a leading integrated commercial and industrial property company. Goodman owns, develops, and manages high-quality, sustainable properties that are close to consumers and provide essential infrastructure for the digital economy. It also has growing and meaningful exposure to the booming data centre market. The team at Morgan Stanley is bullish on the company and continues to forecast solid earnings growth in the coming years. The broker has an overweight rating and $42.40 price target on its shares. ( ) A final ASX 200 blue chip share that could be a top buy according to analysts is Treasury Wine. It is a leading wine company that owns a portfolio of popular brands. This includes the Penfolds, Wolf Blass, Lindeman's, DAOU Vineyards, and 19 Crimes brands. The team at Morgans thinks the market is undervaluing its shares at present. Especially given the potential of its recent acquisition of DAOU Vineyards. It notes that the "acquisition is in line with TWE's premiumisation and growth strategy and will strengthen a key gap in Treasury Americas (TA) portfolio" and that "if TWE delivers on its investment case, there is material upside to our valuation." Morgans currently has an add rating and $14.80 price target on its shares.In a lengthy speech at the Brookings Institution, a Washington, D.C. think tank, on Tuesday, President Joe Biden forcefully defended his economic legacy and harshly criticized his successor. “Most economists agree the new administration is going to inherit a fairly strong economy, at least at the moment, an economy going through fundamental transformation,” Biden said. “It is my profound hope that the new administration will preserve and build on this progress. Like most great economic developments, this one is neither red nor blue, and America's progress is everyone's progress.” RELATED STORY | What impacts will a Trump presidency have on the economy? The president pointed specifically to record job growth during his tenure and an historically-low unemployment rate, as well as solid GDP performance, major investments in infrastructure and a soaring stock market. Most economists agree Biden’s term in office has coincided with a strong jobs market, and note the economic forecast remains bright – especially when contrasted to that of other peer nations, many of which have struggled to rebound from the COVID-19 pandemic. And yet, Americans by and large disapprove of Biden’s economic tenure, particularly the high costs of goods and services. Though inflation has fallen some, it remains higher than when the president took office and has become a frequent point of attack for Republicans critical of the Biden administration. RELATED STORY | Wealthier Americans are driving retail spending and powering US economy President-elect Donald Trump’s victory last month served in some was as a repudiation of the president’s so-called “Bidenomics” policies, with most voters telling pollsters they were dissatisfied with the state of the U.S. economy and Biden’s handling of the issue. Since Trump’s election, attitudes towards the economy have improved slightly, particularly among Republicans; according to research from Gallup, just eight percent of Republicans in October viewed economic conditions as getting better, compared to 30% last month. Biden himself seemed to acknowledge some missteps in selling his economic vision to Americans. “I also learned something from Donald Trump,” Biden said. “He signed checks for people for $7,400 bucks,” the president noted of the pandemic-era relief measures. Even though Biden approved similar relief efforts during his term, his name never appeared on American’s checks. “I didn't – stupid,” Biden conceded. RELATED STORY | Powell says Fed will likely cut rates cautiously given persistent inflation pressures Seeking to bolster Biden’s economic legacy, the White House on Tuesday launched a new website hailing the “Biden Economy,” featuring statistics about economic performance during his term and complimentary videos from his supporters. Biden’s speach, meanwhile, also served as a warning of sorts to his successor, with the president arguing against tax cuts for the wealthy and the notion that such benefits would “trickle down” to middle class Americans. “You can make as much money as you can, good for you, but everybody's got to be they pay their fair share,” Biden said. Trump has pledged to extend the tax cuts he signed into law in 2017, telling NBC News he intends to submit a tax package to Congress within his first 100 days in office. “They’re coming due and they’re very substantial for people,” Trump said of his 2017 cuts. “That’s what led us to one of the greatest economies ever.” RELATED STORY | Amid corporate layoffs, 36% of workforce turns to gig economy for alternative employment A report by the nonpartisan Congressional Budget Office in December found that failing to extend those tax incentives would have a negligible impact on the economy, though Republicans are expected to pursue them and other business tax breaks after they retake both chambers of Congress next year. Trump has also promised to impose significant tariffs on the import of foreign goods from Mexico, Canada and China – despite economists’ and retailers’ warnings that will drive up consumer prices. Trump in the NBC interview said he couldn’t guarantee the move wouldn’t increase consumer costs, something Biden harshly refuted. “I believe we've proven that approach is a mistake over the past four years,” Biden said. “But we all know in time, we all know in time what will happen.”

SANTA CLARA, Calif., Nov. 25, 2024 (GLOBE NEWSWIRE) -- Agora, Inc. (NASDAQ: API) (the “Company”), a pioneer and leader in real-time engagement technology, today announced its unaudited financial results for the third quarter ended September 30, 2024. “Recently, we launched our Conversational AI SDK in collaboration with OpenAI’s Realtime API to allow developers to bring voice-driven AI experiences to any app. We believe multimodal AI agents that can interact with human through natural voice will gain widespread adoption across many use cases such as customer support, education and wellness, and Agora is well positioned to become a key infrastructure provider for real-time conversational AI,” said Tony Zhao, founder, chairman and CEO of Agora. “To support this vision, we recently made some structural changes, aligning our organization to fully leverage the accelerating conversational AI opportunities, and operate in a faster, leaner, and more responsive fashion. These changes will help us build the next generation real-time engagement technology for the Generative AI era and strengthen our position as the leader in real-time engagement space.” Third Quarter 2024 Highlights Total revenues for the quarter were $31.6 million, a decrease of 9.8% from $35.0 million in the third quarter of 2023, which included decreased revenue from certain end-of-sale products of $2.4 million. Agora : $15.7 million for the quarter, an increase of 2.6% from $15.3 million in the third quarter of 2023. Shengwang : RMB112.9 million ($15.9 million) for the quarter, a decrease of 20.0% from RMB141.2 million ($19.7 million) in the third quarter of 2023, which included decreased revenue from certain end-of-sale products of RMB17.5 million ($2.4 million). Active Customers Agora : 1,762 as of September 30, 2024, an increase of 5.9% from 1,664 as of September 30, 2023. Shengwang : 3,641 as of September 30, 2024, a decrease of 9.7% from 4,034 as of September 30, 2023. Dollar-Based Net Retention Rate Agora : 94% for the trailing 12-month period ended September 30, 2024. Shengwang : 78% for the trailing 12-month period ended September 30, 2024. Net loss for the quarter was $24.2 million, which included expenses of $11.4 million in relation to the cancellation of certain employees’ equity awards, severance expenses of $4.8 million, and losses from equity in affiliates of $4.2 million, compared to net loss of $22.5 million in the third quarter of 2023. After excluding share-based compensation expenses, acquisition related expenses, amortization expenses of acquired intangible assets and income tax related to acquired intangible assets, non-GAAP net loss for the quarter was $10.4 million, compared to the non-GAAP net loss of $15.6 million in the third quarter of 2023. Total cash, cash equivalents, bank deposits and financial products issued by banks as of September 30, 2024 was $362.6 million. Net cash used in operating activities for the quarter was $4.6 million, compared to $3.0 million in the third quarter of 2023. Free cash flow for the quarter was negative $6.0 million, compared to negative $3.2 million in the third quarter of 2023. Third Quarter 2024 Financial Results Revenues Total revenues were $31.6 million in the third quarter of 2024, a decrease of 9.8% from $35.0 million in the same period last year. Revenues of Agora were $15.7 million in the third quarter of 2024, an increase of 2.6% from $15.3 million in the same period last year, primarily due to our business expansion and usage growth in sectors such as live shopping. Revenues of Shengwang were RMB112.9 million ($15.9 million) in the third quarter of 2024, a decrease of 20.0% from RMB141.2 million ($19.7 million) in the same period last year, primarily due to a decrease in revenues of RMB 17.5 million ($2.4 million) due to the end-of-sale of certain products and reduced usage from customers in certain sectors such as social and entertainment as a result of challenging macroeconomic and regulatory environment. Cost of Revenues Cost of revenues was $10.5 million in the third quarter of 2024, a decrease of 16.4% from $12.6 million in the same period last year, primarily due to the end-of-sale of certain products and the decrease in bandwidth usage and costs, which was offset partially by severance expenses for customer support teams of $0.3 million. Gross Profit and Gross Margin Gross profit was $21.0 million in the third quarter of 2024, a decrease of 6.1% from $22.4 million in the same period last year. Gross margin was 66.7% in the third quarter of 2024, an increase of 2.7% from 64.0% in the same period last year, mainly due to the end-of-sale of certain low-margin products, which was offset partially by higher severance expenses in the third quarter of 2024. Operating Expenses Operating expenses were $45.9 million in the third quarter of 2024, an increase of 24.3% from $36.9 million in the same period last year, primarily due to the increase in restructuring and severance expenses in the third quarter of 2024, which included share-based compensation of $11.4 million as a result of the cancellation of certain employees’ equity awards and immediate recognition of relevant remaining unrecognized compensation expenses, as well as severance expenses of $4.4 million. Research and development expenses were $29.3 million in the third quarter of 2024, an increase of 46.1% from $20.0 million in the same period last year, primarily due to restructuring and severance expenses in the third quarter of 2024, including share-based compensation of $9.0 million due to equity award cancellation and severance expenses of $3.6 million. Sales and marketing expenses were $6.9 million in the third quarter of 2024, a decrease of 11.9% from $7.8 million in the same period last year, primarily due to a decrease in personnel costs as the Company optimized its global workforce, which was offset partially by severance expenses of $0.7 million in the third quarter of 2024. General and administrative expenses were $9.7 million in the third quarter of 2024, an increase of 7.4% from $9.1 million in the same period last year, primarily due to restructuring and severance expenses in the third quarter of 2024, including share-based compensation of $2.4 million as a result of the equity award cancellation, which was offset partially by a decrease in personnel costs as the Company optimized its global workforce. Loss from Operations Loss from operations was $24.7 million in the third quarter of 2024, compared to $13.9 million in the same period last year. Interest Income Interest income was $3.9 million in the third quarter of 2024, compared to $4.9 million in the same period last year, primarily due to the decrease in the average balance of cash, cash equivalents, bank deposits and financial products issued by banks and the decrease in average interest rate realized. Losses from equity in affiliates Losses from equity in affiliates were $4.2 million in the third quarter of 2024, primarily due to an impairment loss on an investment in certain private company of $4.1 million. Net Loss Net loss was $24.2 million in the third quarter of 2024, compared to $22.5 million in the same period last year. Net Loss per American Depositary Share attributable to ordinary shareholders Net loss per American Depositary Share (“ADS”) 1 attributable to ordinary shareholders was $0.26 in the third quarter of 2024, compared to $0.23 in the same period last year. _____________ 1 One ADS represents four Class A ordinary shares. Share Repurchase Program During the three months ended September 30, 2024, the Company repurchased approximately 6.8 million of its Class A ordinary shares (equivalent to approximately 1.7 million ADSs) for approximately US$3.9 million under its share repurchase program, representing 1.9% of its US$200 million share repurchase program. As of September 30, 2024, the Company had repurchased approximately 129.4 million of its Class A ordinary shares (equivalent to approximately 32.3 million ADSs) for approximately US$113.7 million under its share repurchase program, representing 57% of its US$200 million share repurchase program. As of September 30, 2024, the Company had 368.3 million ordinary shares (equivalent to approximately 92.1 million ADSs) outstanding, compared to 449.8 million ordinary shares (equivalent to approximately 112.5 million ADSs) outstanding as of January 31, 2022 before the share repurchase program commenced. The current share repurchase program will expire at the end of February 2025. Executive Leadership Update Today the Company announced that Chief Security Officer Roger Hale will be leaving the Company, effective immediately. Mr. Hale has served in this role for the past 2.5 years, during which he made significant contributions to enhancing the Company’s security, compliance, and data protection protocols. Mr. Hale will work closely with senior leadership to ensure a smooth transition of his responsibilities. Moving forward, Patrick Ferriter and Robbin Liu will assume responsibility for security and compliance, reflecting the Company’s commitment to maintaining a strong and effective security framework. Mr. Hale will continue to provide strategic advice as an advisor to the Company. “We are grateful for Roger’s dedication and expertise over the past two and a half years. His leadership has been invaluable in strengthening our security & compliance foundation,” said Tony Zhao, founder, chairman and CEO of Agora. “Security and compliance remain top priorities for Agora, and we will continue to uphold the highest standards to protect our customers and stakeholders.” Financial Outlook Based on currently available information, the Company expects total revenues for the fourth quarter of 2024 to be between $34 million and $36 million, compared to $31.6 million in the third quarter of 2024, and $33.3 million in the fourth quarter of 2023 if revenues from certain end-of-sale low-margin products were excluded. The Company also expects significant improvement in net income / (loss) in the fourth quarter. This outlook reflects the Company's current and preliminary views on the market and operational conditions, which are subject to change. Earnings Call The Company will host a conference call to discuss the financial results at 5 p.m. Pacific Time / 8 p.m. Eastern Time on November 25, 2024. Details for the conference call are as follows: Event title: Agora, Inc. 3Q 2024 Financial Results The call will be available at https://edge.media-server.com/mmc/p/wie28zvr Investors who want to hear the call should log on at least 15 minutes prior to the broadcast. Participants may register for the call with the link below. https://register.vevent.com/register/BIf58a0b6f500c4362b1a8c64f9fa4cea8 Please visit the Company’s investor relations website at https://investor.agora.io on November 25, 2024 to view the earnings release and accompanying slides prior to the conference call. Use of Non-GAAP Financial Measures The Company has provided in this press release financial information that has not been prepared in accordance with generally accepted accounting principles in the United States (“GAAP”). The Company uses these non-GAAP financial measures internally in analyzing its financial results and believe that the use of these non-GAAP financial measures is useful to investors as an additional tool to evaluate ongoing operating results and trends and in comparing its financial results with other companies in its industry, many of which present similar non-GAAP financial measures. Besides free cash flow (as defined below), each of these non-GAAP financial measures represents the corresponding GAAP financial measure before share-based compensation expenses, acquisition related expenses, amortization expenses of acquired intangible assets, income tax related to acquired intangible assets and impairment of goodwill. The Company believes that such non-GAAP financial measures help identify underlying trends in its business that could otherwise be distorted by the effects of such share-based compensation expenses, acquisition related expenses, amortization expenses of acquired intangible assets, income tax related to acquired intangible assets and impairment of goodwill that it includes in its cost of revenues, total operating expenses and net income (loss). The Company believes that all such non-GAAP financial measures also provide useful information about its operating results, enhance the overall understanding of its past performance and future prospects and allow for greater visibility with respect to key metrics used by its management in its financial and operational decision-making. Non-GAAP financial measures are not meant to be considered in isolation or as a substitute for comparable GAAP financial measures and should be read only in conjunction with the Company’s consolidated financial statements prepared in accordance with GAAP. A reconciliation of its historical non-GAAP financial measures to the most directly comparable GAAP measures has been provided in the tables captioned “Reconciliation of GAAP to Non-GAAP Measures” included at the end of this press release, and investors are encouraged to review the reconciliation. Definitions of the Company’s non-GAAP financial measures included in this press release are presented below. Non-GAAP Net Income (Loss) Non-GAAP net income (loss) is defined as net income (loss) adjusted to exclude share-based compensation expenses, acquisition related expenses, amortization expenses of acquired intangible assets, income tax related to acquired intangible assets and impairment of goodwill. Free Cash Flow Free cash flow is defined as net cash provided by operating activities less purchases of property and equipment (excluding the acquisition of land use right and the payment for the headquarters project). The Company considers free cash flow to be a liquidity measure that provides useful information to management and investors regarding net cash provided by operating activities and cash used for investments in property and equipment required to maintain and grow the business. Operating Metrics The Company also uses other operating metrics included in this press release and defined below to assess the performance of its business. Active Customers An active customer at the end of any period is defined as an organization or individual developer from which the Company generated more than $100 of revenue during the preceding 12 months. Customers are counted based on unique customer account identifiers. Generally, one software application uses the same customer account identifier throughout its life cycle while one account may be used for multiple applications. Dollar-Based Net Retention Rate Dollar-Based Net Retention Rate is calculated for a trailing 12-month period by first identifying all customers in the prior 12-month period, and then calculating the quotient from dividing the revenue generated from such customers in the trailing 12-month period by the revenue generated from the same group of customers in the prior 12-month period. As the vast majority of revenue generated from Agora’s customers is denominated in U.S. dollars, while the vast majority of revenue generated from Shengwang’s customers is denominated in Renminbi, Dollar-Based Net Retention Rate is calculated in U.S. dollars for Agora and in Renminbi for Shengwang, which has substantially removed the impact of foreign currency translations. Shengwang excluded the revenues from certain end-of-sale products, Easemob’s CEC business and K12 academic tutoring sector. The Company believes Dollar-Based Net Retention Rate facilitates operating performance comparisons on a period-to-period basis. Safe Harbor Statements This press release contains “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended and Section 21E of the Securities Exchange Act of 1934, as amended and the Private Securities Litigation Reform Act of 1995. All statements other than statements of historical or current fact included in this press release are forward-looking statements, including but not limited to statements regarding the Company’s financial outlook, beliefs and expectations. Forward-looking statements include statements containing words such as “expect,” “anticipate,” “believe,” “project,” “will” and similar expressions intended to identify forward-looking statements. Among other things, the Financial Outlook in this announcement contain forward-looking statements. These forward-looking statements are based on the Company’s current expectations and involve risks and uncertainties. The Company’s actual results and the timing of events could differ materially from those anticipated in such forward-looking statements as a result of these risks and uncertainties, which include, without limitation, risks related to the growth of the RTE-PaaS market; the Company’s ability to manage its growth and expand its operations; the continued impact of COVID-19 on global markets and the Company’s business, operations and customers; the Company’s ability to attract new developers and convert them into customers; the Company’s ability to retain existing customers and expand their usage of its platform and products; the Company’s ability to drive popularity of existing use cases and enable new use cases, including through quality enhancements and introduction of new products, features and functionalities; the Company’s fluctuating operating results; competition; the effect of broader technological and market trends on the Company’s business and prospects; general economic conditions and their impact on customer and end-user demand; and other risks and uncertainties included elsewhere in the Company’s filings with the Securities and Exchange Commission (“SEC”), including, without limitation, the final prospectus related to the IPO filed with the SEC on June 26, 2020. You are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this press release. All forward-looking statements are qualified in their entirety by this cautionary statement, and the Company undertakes no obligation to revise or update any forward-looking statements to reflect events or circumstances after the date hereof. About Agora, Inc. Agora, Inc. is the Cayman Islands holding company of two independent divisions, under Agora brand and Shengwang brand, respectively, whose businesses are conducted through separate entities. Headquartered in Santa Clara, California, Agora is a pioneer and global leader in Real-Time Engagement Platform-as-a-Service (PaaS), providing developers with simple, flexible, and powerful application programming interfaces, or APIs, to embed real-time voice, video, interactive live-streaming, chat, whiteboard, and artificial intelligence capabilities into their applications. Headquartered in Shanghai, China, Shengwang is a pioneer and leading Real-Time Engagement PaaS provider in the China market. For more information on Agora, please visit: www.agora.io For more information on Shengwang, please visit: www.shengwang.cn Agora, Inc. Condensed Consolidated Balance Sheets (Unaudited, in US$ thousands) Agora, Inc. Condensed Consolidated Statements of Comprehensive Loss (Unaudited, in US$ thousands, except share and per ADS amounts) Agora, Inc. Condensed Consolidated Statements of Cash Flows (Unaudited, in US$ thousands) Agora, Inc. Reconciliation of GAAP to Non-GAAP Measures (Unaudited, in US$ thousands, except share and per ADS amounts)The recent spate of stampedes in various parts of the country, which claimed the lives of 67 people, including 35 children, has raised concerns about the need for better crowd control measures. The tragic incidents have led to an urgent call from public health experts, who noted that the deadly stampedes could have been averted with better crowd management and safety measures in place. Speaking exclusively with PUNCH Healthwise , the physicians also stressed the need for event organisers to provide adequate space, exit and entry points, and emergency services during large gatherings. While pointing out that people with poor health conditions, chronic diseases, children and the elderly are at higher risk of complications in crowded environments, the health experts advised that everyone should avoid areas without crowd control measures. PUNCH Healthwise reports that on Wednesday, 35 children died at a holiday funfair in Ibadan, Oyo State, while on Saturday another 32 people were killed at two more stampedes in Anambra State and the Federal Capital Territory, Abuja. The country is witnessing a growing trend of local organisations, churches, and individuals providing palliatives, including food and money, to help people cope with the economic hardship caused by the high cost-of-living crisis. It was reported that the stampedes occurred when crowds either rushed to the event location or scrambled to get their share of the palliatives. Reacting to the recent stampedes and possible ways to prevent future occurrences, the public health experts said the country needs to adopt international best practices for crowd management, including providing spacious accommodation, gated entry, and multiple service points. They stressed the importance of public awareness campaigns that focus on how to behave safely during large gatherings. A public health expert at the University of Ilorin Teaching Hospital, Kwara State, Prof Tanimola Akande, identified a lack of crowd control mechanisms, inadequate space, panic conditions, struggle for items being shared, sudden infrastructure collapse, poor lighting, inadequate exit points, and false alarms as common causes of stampedes in large gatherings. While noting that proper crowd control mechanisms are expected at large gatherings, the professor at the University of Ilorin lamented that many gatherings in Nigeria lack sufficient planning. Akande, a former National Chairman of the Association of Public Health Physicians of Nigeria, stressed the importance of anticipatory actions to prevent stampedes in large gatherings. He noted that emergency responders need to be pre-informed about large gatherings and get well-prepared for the events. The university don added, “Avoidance of crowded areas is subjective. Where inappropriate measures are not commonly put in place, virtually everyone should avoid such crowded areas since anyone can fall victim in case of a stampede. In addition, people with poor health conditions, chronic diseases, and children, elderly among others, should avoid crowded areas without crowd control measures. “The common causes of stampedes in large gatherings include poor or lack of crowd control mechanisms, inadequate space, panic conditions, struggle for items that are being shared, sudden infrastructure collapse, poor lighting, inadequate exit points and false alarm, among other causes. Related News How stampedes expose Nigerians’ deep hunger accompanying Tinubu economic reforms It’s wrong blaming Tinubu for stampedes, Omokri tells Obi Shettima mourns, offers prayers for victims of stampedes “Crowd control is very important in preventing stampedes. This should be well planned and prepared for. It should be part of anticipatory actions to prevent stampedes in large gatherings. “Organisers of large gatherings for sharing food should seriously consider the physical and social environment in which this is to be placed. There is so much poverty in our nation, and therefore, such gatherings are often overcrowded. Therefore, deliberate efforts must be made to ensure the orderliness and safety of people. The food to be shared must be enough for the number of people planned for. Invitations for such events must be well planned such that safety concerns are also prioritised. “The strategies for managing large crowds include adequate planning and preparedness that ensures adequate space and safety. There must be good plans for exit and entry points such that entry and exit are done orderly. It is desirable to use dividers and adequate personnel to control movement. Where possible, tickets should be used for entry. Adequate measures should be in place to take care of possible emergencies.” When asked about some common injuries that could arise from stampedes, the physician stated, “It is common to have physical injuries like cuts, wounds, dislocation, fractures, and even head injuries. There can also be respiratory distress and choking, among others. Some victims may also suffer from exhaustion and heart attack. Psychological issues like post-traumatic stress disorder. “Vulnerable people need to carefully identify large gatherings they can attend that are safe enough. They should avoid such gatherings knowing that effective measures are hardly in place in most of such gatherings in Nigeria.” On his part, a professor of Community Medicine and Public Health, Prof Best Ordinioha, stated that the government needs to take a more proactive approach to addressing the root causes of stampedes. Ordinioha maintained that stampedes could be prevented with proper planning, crowd control, and emergency preparedness. The don noted that the recent stampedes in Ibadan, Abuja, and Anambra are a wake-up call for Nigerians to take the safety of large gatherings seriously. He described stampedes as a common response of mammals to a threat to life, borne out of a self-centred desire to escape danger, often at the risk of others. “Crowd control is the most important measure in preventing stampedes. It is next to reassurances of no such threat to life. “Stampedes are a common reaction to perceived danger, driven by a self-centred desire to escape, often at the expense of others’ safety. It is essential for event organisers to recognise this and put in place measures that can prevent such chaotic situations from arising,” he said. To ensure the safety of attendees during palliative distribution events, Ordinioha suggested special provisions for vulnerable populations, such as the elderly and pregnant women. He advised that people with asthma and cardio-respiratory problems should avoid crowded areas. “For food distribution events, organisers must ensure there is enough space and proper entry points. Multiple service points should be set up, and everyone should be assured that they will receive food in an orderly manner. “The government needs to take a more proactive approach to addressing the root causes of stampedes. This includes providing adequate space, exit and entry points, and emergency services during large gatherings,” Ordinioha said.

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