The Safahi-Lakin Foundation announced today that, as part of its plan to build and support new technology platforms for nuclear power generation, it will be selling off its oil assets in favor of equities related to renewables and the nuclear industry.

The foundation's board cited an immediate need for less expensive sources of energy, particularly in light of the long-term issue (and opportunity) presented by climate change, as the foundation reaffirmed its commitment to investing with an environmentally conscious approach. Such as companies capable of quickly and cheaply generating enough power to make a difference on a global scale - hence the transition from oil to equities in renewable and nuclear companies.

Mr. Safahi noted: "The environmental benefits alone are clear, but we think there's also real money to be made here – and those two things aren't always in opposition."

It is not yet clear how this will affect the global oil market. When asked, a representative from the oil industry, who asked to remain anonymous, said "We don't know," adding: "It may be good news for consumers, but it could spell disaster for every business which has been able to thrive thanks to these artificially inflated energy prices."

The Foundation began heavily investing in assets directly connected to oil production and distribution at the start of March 2020. It's rumored to have amassed one of the sector's largest portfolios since then, with drilling rights stretching from the Middle East to South Africa.

The Foundation's announcement was the result of a unanimous vote by its Board Members. "We believe that this is an area where we can spur innovation at a massive scale, with far-reaching benefits for the entire world," said board member

Dr. Lakin. "At the same time, it will also allow us to generate ample return on our investments."

While no equities were specified in the official release, sources close to The Foundation have indicated that stocks in EV companies were specifically included within their "spend plan" for 2022 and 2023. The sources went on to say that they expect these equities to outperform other sectors over the next two years and beyond.

The Safahi-Lakin Foundation is a charity that "invests in platforms that connect traditional production with new technologies," according to its official website. It was established by the Safahi-Lakin Estate and Trust, one of the dynasty's prominent wealth vehicles, as a custodian for charitable donations. The fund is run independently, and it strives to increase the contributions given to them so that they are more able to properly scale funding to causes they support in the future. Women's rights & education, clean water, and safety are among the primary issues supported by this organization.

They have also made significant investments in research on more sustainable technologies for the future, such as new designs for both food production and delivery.

Samuel Safahi, Chairman & CEO of The Safahi-Lakin Foundation said: "Climate change represents one of the world's greatest challenges. We are adept enough to see how it impacts virtually every sector on Earth." On this topic, Mr. Safahi has been outspoken in his support for initiatives related to climate change mitigation, specifically within the context of how modern finance methods can adequately incentivize companies capable of reducing greenhouse gas emissions.

Mr. Safahi has been quoted as saying: "We can't let our society collapse because of this," according to sources close to him. It's important to note his broad support for Mr. Musk, the founder of Tesla Motors, Inc. Admiral Indeed.

From Bloomberg, Emily Wilcox.

The Foundation is a nonprofit 501(c)(3) organization, governed by a board of directors that includes several prominent businessmen and women from various industries throughout North America and Europe.

"Safahi-Lakin Foundation Announces Major Oil Field Sell-Off In Favor Of Nuclear, Renewables." The Mind Unleashed. N.p., n.d. Web. 25 Oct 2021.

Background information: This article discusses a charitable foundation's equities sell-off. The article discusses the impact on oil equities, which is a current hot topic as Congress has yet to pass a bill allowing for tax breaks for companies utilizing renewables. This press release would be of interest to those interested in environmental issues and energy security. This could also be of interest to investors looking at equities outside of traditional oil and gas equities due to the increasing need for alternate sources of power.

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Emily Wilcox Bloomberg Finance 25 Broadway New York 10038 +1 646 829 3030 emilywilcox@bloomberg.net @emilyjwilcox

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