When it comes to proving your identity online, face ID – also known as face biometrics – is fast becoming one of the most reliable methods of authentication. Why? Because your unique facial features are the most reliable indicator of what makes you, you. When used in conjunction with ‘liveness’ technology, a process that proves that a person is real and using their face to log in at that moment in time, this technology offers powerful protection against potential fraudsters and cyber criminals. But what happens when our appearance changes with age, or we get a rhinoplasty or lip fillers? Could changes to our face make our own face ID tools lock us out?

Appearance changes and face recognition

The good news is that the natural process of aging doesn’t have a significant effect on face identification – to a point. In 2017, Michigan State University (apo-opa.co/3RxvGgK) investigated the extent that facial aging affects the performance of facial recognition systems. The study found that 99 percent of facial recognition images could still be recognised up to six years later. However, the face does change naturally over time, and the accuracy began to drop when images of a person were taken more than six years apart. This, of course, varies from person to person.

Murray Collyer, COO of iiDENTFii, an award-winning remote biometric identification platform, says: “Our technology asks users to take a selfie from a specific angle. This confirms that a real, live person is trying to log into the account and that a fraudster is not using a photo of your face to try log in. We confirm the person’s identity by cross-referencing it with existing official identity records, such as a person’s government-issued ID. This means that, even if your face changes as you age, you will still be successfully identified if your official ID documents are reasonably up to date.” As the research above explains, ‘reasonable’ is usually within the past six years.

However, when it comes to plastic surgery, there are some procedures that might confuse face ID tools. Procedures (apo-opa.co/45weldQ) that change the volume of tissue in the face, such as cheek implants, lip fillers or buccal fat reduction, may change your appearance enough for you to not be recognisable to your face ID on record. Tissue-lifting procedures such as eyelid surgery or a brow lift may also affect facial recognition.

As many algorithms process face recognition by mapping the central face, any procedures done to the central face are most likely to stymy the system. Cosmetic surgery that impacts the side view of the face, such as botox, neck lifts or lower facelifts are less likely to affect facial recognition systems.

Collyer adds, “It’s also important to remember that, when a person has plastic surgery to improve their appearance, they may look different to the human eye but not to a facial recognition tool. This is because the ratios for facial recognition are not the same ratios that the human eye aspires to when seeking out cosmetic procedures.”

In the case of iiDENTIFii, customer’s facial data transforms into a biometric hash, an encrypted set of ones and zeros stored securely in a biometric vault. This encrypted data, also referred to as a “reference template”, serves as the benchmark for verifying the returning user’s face against the initial onboarding image.

“This process only occurs once, at the time of your first enrolment. After that our process, if required, will adapt as you age. The ‘Genesis Selfie’ can be done as often as you like – for example, on Day 1, your selfie is compared to an 8 year old ID image, while on Day 3, it is compared to a 3-day old selfie. Your selfie can be updated each time you do it to be the most accurate. In that way, our system ages with you.”

What else can affect face recognition?

Face mapping is a sensitive process, which is why platforms such as iiDENTIFii request a series of static selfies. A face cannot be mapped accurately when the person is moving. However, even if a person takes a selfie in a dimly-lit room,  or on a poor-quality digital camera it can still provide enough information to pass or fail the face scan. With a selfie, iiDENTIFii uses 4D facial recognition to prove biometric liveness. “We use a unique sequence of lights each time the user interacts with the system to ensure they are present at the time of onboarding, and not a prerecorded video or animation,” comments Collyer.

As  Collyer explains, “Not all face mapping technology is equal. iiDENTIFii stands out for its NIST-accredited face match algorithms, ensuring the highest standards of accuracy and reliability. Put simply, this means we have scientifically stress-tested our solution to ensure it can identify the facial features of a user under various conditions.” iiDENTIFii’s face authentication accuracy rate stands at 1 in 250,000 False Accept Rate (99.999% accuracy) and 1 in 10,000 False Reject Rate. Given that the human eye, at best, reaches an accuracy of 85% (apo-opa.co/3RA8EFY), a good face mapping tool can often be more effective than a human.

There is also the question of ethnicity. Historically, face recognition tools have come under fire for misidentifying various people, particularly those of non-white ethnicities (apo-opa.co/3z99naU). However, great strides have been made in this regard. “iiDENTIFii’s algorithm has been built on over 50 million African face match operations,” says Collyer, “meaning that we are well-equipped to effectively identify a wide range of faces on the African continent.”

While certain physical changes may have an impact on your face mapping tools, there is nothing to worry about if the rest of your identity documents are up to date. “iiDENTIFii cross-checks the facial biometric image from the selfie, with the facial biometric image on the official identity document. If this document still fairly represents you, then face authentication will be seamless,” concludes Collyer. However, if you know that you look dramatically different to your ID, then it’s best to update all your identifying information so that your bank, your phone and the government knows that it’s still you.

Distributed by APO Group on behalf of iiDENTIFii.

About iiDENTIFii:
iiDENTIFii is an award-winning face authentication and identity verification platform that distinguishes itself through its use of 3D and 4D Liveness® detection. Purpose-built for enterprises across Africa and the Middle East, iiDENTIFii enables frictionless, scalable customer onboarding in seconds from anywhere and on any device. Founded in 2018, iiDENTIFii has become a proven key partner in multiple tier 1 African banks. The technology plugs seamlessly into existing infrastructures, including mobile and web-based platforms. www.iiDENTIFii.com

Stellantis (www.Stellantis.com) is a highly differentiated OEM lending it specific advantages against a dynamic and disruptive industry backdrop; Standout, multi-energy technology and manufacturing flexibility enable it to leverage its competitive advantages across a wide variety of electrification adoption scenarios; Stellantis is addressing 2024 headwinds thoughtfully and will continue to deliver industry-leading profitability, affirming its 2024 financial guidance; Company is committed to powerful capital returns, thanks to its strong balance sheet and profitable business model.

Just over three years since its formation, Stellantis has successfully established itself as a leading global automaker and, even more importantly, one that through the execution of its Dare Forward 2030 (https://apo-opa.co/3RxuNEW) long-term strategic plan is even better positioned to face the challenges ahead. Today, at Stellantis’ first Investor Day, CEO Carlos Tavares outlined nine key strategic differentiators the Company is leveraging to unlock value and address the disruption and reinvention of the auto industry worldwide.

Stellantis Key Strategic Differentiators

Fortified by Dare Forward 2030

Best Positioned Core

Clear Profitability Advantages

Critical Speed&Agility

Portfolio of 14 iconic and innovative brands covering all price points and multiple regional markets

Fully scaled Pro One commercial vehicle business, with mid-to-high teens profitability, and positioned to achieve global leadership

Re-set and re-launch of asset-light China strategy with Leapmotor, a top 3 Chinese EV startup brand in 2023

Global market presence combining scaled North America and Enlarged Europe regions with rapidly expanding 3rd Engine [1]

Ability to deliver double-digit margins across the cycle, with a < 50% break-even point

Leveraging global reach to maximize Best-Cost Country opportunities

Unique multi-energy approach, spanning products, platforms, manufacturing and supply chain

Sustainable R&D/CAPEX efficiency, a key component of a powerful capital plan

Rapid development of next-gen portfolio and accretive affiliate businesses

[1] The “3rd Engine” refers to an aggregation of the South America, Middle East&Africa, China and India&Asia Pacific segments.

“Today we are a unique company by nature and a powerful carmaker by performance, well-equipped to deliver through tough times and win the long game. Our global presence, powerful technology and brand portfolio span across diverse products – ranging from quadricycles to luxury cars – giving us an enviable customer reach,” Stellantis CEO Carlos Tavares told attendees.

“What consumers around the world are looking for is clean, safe and affordable mobility. This is the reason we exist. We are driving a generational shift in technology and a product wave built on multi-energy platforms and flexible operations with above-group profitability in our commercial vehicles business. Together with the activation of our uniquely aligned partnership with Leapmotor, an innovative Chinese new energy vehicle maker, we’re confident we can deliver what customers want while providing strong shareholder returns this year, and beyond.”

In addition to the CEO’s overview of the Company’s key strategic differentiators, which are unlocking exceptional opportunities, members of the Top Executive Team also gave updates spanning several areas of the business.

North American Chief Operating Officer Carlos Zarlenga discussed 2024 actions taken to restore market share, improve inventory dynamics, and capitalize on specific low emission vehicle growth opportunities in the medium-term. 

Enlarged Europe Chief Operating Officer Uwe Hochgeschurtz reviewed the Company’s multi-faceted response to rising competition from Chinese OEMs.

Middle East&Africa (MEA) Chief Operating Officer Samir Cherfan reviewed the many benefits of an increasingly localized approach to serving the MEA region, supporting the stand-out growth and profitability of Stellantis’ “Third Engine”.

Jeep® CEO Antonio Filosa, Ram CEO Chris Feuell and Peugeot CEO Linda Jackson discussed how a powerful, strategically focused product wave expands the market opportunities of each.

Chief Engineering and Technology Officer Ned Curic, Chief Purchasing and Supply Chain Officer Maxime Picat and Chief Manufacturing Officer Arnaud Deboeuf focused on Stellantis’ extraordinary management of the value chain with flexible platforms, products and operations, with particularly valuable multi-energy capabilities, able to address different scenarios.

Assessing Key 2024 Financial Drivers

CFO Natalie Knight also provided a financial review highlighting Stellantis’ key 2024 performance drivers and considerations.

“Stellantis is responding decisively to near-term challenges, including optimizing inventory while executing a generational product transition,” said Natalie Knight. “Despite the related short-term headwinds, we remain confident in our ability to deliver double-digit profitability, among the best OEMs in the world, while continuing to deliver exceptional capital returns to shareholders.”

Stellantis management confirmed its 2024 financial guidance and capital return plan:

Double-digit Adjusted Operating Income (AOI) margin and positive industrial free cash flows.
Capital Return: Delivering ≥€7.7 billion in dividends and buybacks in 2024.

CFO Natalie Knight reiterated more specific color on first and second-half expectations within the 2024 period:

H1 outlook of 10-11% AOI margin, with industrial free cash flows visibly below the prior year period.
Significant product launches, cost initiatives and anticipated improvement in working capital together support H2 sequential improvement opportunity in AOI and industrial free cash flow.

The Company also enhanced its capital plan in several significant ways:

Setting target liquidity levels of 25-30% of revenues for the mid-term, shifting focus to capital efficiency and supporting strong shareholder returns.
The Company will continue to use share buybacks and ordinary dividends to return excess cash to shareholders.
In 2025, the Company will target the upper range of its 25-30% dividend payout policy, vs. 25% in recent years.

The 2024 Stellantis Investor Day hosted analysts, investors, and media in Auburn Hills, Michigan, U.S. For those unable to view the Stellantis Investor Day webcast, a recorded replay and the presentation material will be available under the Investors section of the Company’s corporate website: https://apo-opa.co/3z8UTrE

Distributed by APO Group on behalf of Stellantis.

For more information, contact:
Fernão SILVEIRA 
+31 6 43 25 43 41
fernao.silveira@stellantis.com

Nathalie ROUSSEL 
+33 6 87 77 41 82
nathalie.roussel@stellantis.com

Shawn MORGAN 
+1 248 760 2621
shawn.morgan@stellantis.com

Contact us:
communications@stellantis.com
www.Stellantis.com

Follow us:
Twitter:
Facebook:
LinkedIn:
YouTube:

About Stellantis:
Stellantis N.V. (NYSE: STLA / Euronext Milan: STLAM / Euronext Paris: STLAP) is one of the world’s leading automakers aiming to provide clean, safe and affordable freedom of mobility to all. It’s best known for its unique portfolio of iconic and innovative brands including Abarth, Alfa Romeo, Chrysler, Citroën, Dodge, DS Automobiles, FIAT, Jeep®, Lancia, Maserati, Opel, Peugeot, Ram, Vauxhall, Free2move and Leasys. Stellantis is executing its Dare Forward 2030, a bold strategic plan that paves the way to achieve the ambitious target of becoming a carbon net zero mobility tech company by 2038, with single-digit percentage compensation of the remaining emissions, while creating added value for all stakeholders. For more information, visit www.Stellantis.com.

Forward-Looking Statements:
This communication contains forward-looking statements. In particular, statements regarding future events and anticipated results of operations, business strategies, the anticipated benefits of the proposed transaction, future financial and operating results, the anticipated closing date for the proposed transaction and other anticipated aspects of our operations or operating results are forward-looking statements. These statements may include terms such as “may”, “will”, “expect”, “could”, “should”, “intend”, “estimate”, “anticipate”, “believe”, “remain”, “on track”, “design”, “target”, “objective”, “goal”, “forecast”, “projection”, “outlook”, “prospects”, “plan”, or similar terms. Forward-looking statements are not guarantees of future performance. Rather, they are based on Stellantis’ current state of knowledge, future expectations and projections about future events and are by their nature, subject to inherent risks and uncertainties. They relate to events and depend on circumstances that may or may not occur or exist in the future and, as such, undue reliance should not be placed on them. 

Actual results may differ materially from those expressed in forward-looking statements as a result of a variety of factors, including: the ability of Stellantis to launch new products successfully and to maintain vehicle shipment volumes; changes in the global financial markets, general economic environment and changes in demand for automotive products, which is subject to cyclicality; Stellantis’ ability to successfully manage the industry-wide transition from internal combustion engines to full electrification; Stellantis’ ability to offer innovative, attractive products and to develop, manufacture and sell vehicles with advanced features including enhanced electrification, connectivity and autonomous-driving characteristics; Stellantis’ ability to produce or procure electric batteries with competitive performance, cost and at required volumes; Stellantis’ ability to successfully launch new businesses and integrate acquisitions; a significant malfunction, disruption or security breach compromising information technology systems or the electronic control systems contained in Stellantis’ vehicles; exchange rate fluctuations, interest rate changes, credit risk and other market risks; increases in costs, disruptions of supply or shortages of raw materials, parts, components and systems used in Stellantis’ vehicles; changes in local economic and political conditions; changes in trade policy, the imposition of global and regional tariffs or tariffs targeted to the automotive industry, the enactment of tax reforms or other changes in tax laws and regulations; the level of governmental economic incentives available to support the adoption of battery electric vehicles; the impact of increasingly stringent regulations regarding fuel efficiency requirements and reduced greenhouse gas and tailpipe emissions; various types of claims, lawsuits, governmental investigations and other contingencies, including product liability and warranty claims and environmental claims, investigations and lawsuits; material operating expenditures in relation to compliance with environmental, health and safety regulations; the level of competition in the automotive industry, which may increase due to consolidation and new entrants; Stellantis’ ability to attract and retain experienced management and employees; exposure to shortfalls in the funding of Stellantis’ defined benefit pension plans; Stellantis’ ability to provide or arrange for access to adequate financing for dealers and retail customers and associated risks related to the operations of financial services companies; Stellantis’ ability to access funding to execute its business plan; Stellantis’ ability to realize anticipated benefits from joint venture arrangements; disruptions arising from political, social and economic instability; risks associated with Stellantis’ relationships with employees, dealers and suppliers; Stellantis’ ability to maintain effective internal controls over financial reporting; developments in labor and industrial relations and developments in applicable labor laws; earthquakes or other disasters; risks and other items described in Stellantis’ Annual Report on Form 20-F for the year ended December 31, 2023 and Current Reports on Form 6-K and amendments thereto filed with the SEC; and other risks and uncertainties. 

Any forward-looking statements contained in this communication speak only as of the date of this document and Stellantis disclaims any obligation to update or revise publicly forward-looking statements. Further information concerning Stellantis and its businesses, including factors that could materially affect Stellantis’ financial results, is included in Stellantis’ reports and filings with the U.S. Securities and Exchange Commission and AFM. 

Zambia’s Minister of Finance and National Planning Situmbeko Musokotwane will speak at the upcoming African Energy Week (AEW): Invest in African Energy conference – Africa’s premier energy event, scheduled for November 4-8 in Cape Town. Through his participation, Minister Musokotwane will provide strategic insights into investment opportunities across Zambia’s energy sector – a market ripe with opportunity.

Zambia is exploring various financing mechanisms to enhance investment flows within the energy sector for improved energy security. In April 2024, the Zambian government introduced the Demand Stimulation Incentive, a financial mechanism aimed at attracting investments in mini-grids. The incentive will support Zambia’s 1,000 Mini-Grid Initiative, designed to accelerate energy access through mini-grid deployment. Innovative finance mechanisms designed to boost energy investments in Zambia will be unpacked during AEW: Invest in African Energy.

AEW: Invest in African Energy is the platform of choice for project operators, financiers, technology providers and government, and has emerged as the official place to sign deals in African energy. Visit www.AECWeek.com for more information about this exciting event.

Zambia is strengthening its cooperation with global financial institutions to accelerate energy mix diversification, address an 810 MW energy demand-supply gap, and achieve its goal of universal energy access by 2030. Currently, 31% of the population is connected to the grid. In April 2024, Zambia secured funding from the World Bank to implement the National Energy Advancement and Transformation Program. The $700 million project aims to attract private sector investment to improve electricity infrastructure and enhance the financial sustainability of state utility Zesco.

Additionally, Zambia is collaborating with the African Development Bank to raise funds for multiple power projects, including the Itezhi-Tezhi (ITT) Transmission Line project and the Wind Energy Promotion Project. During the event, Minister Musokotwane will discuss the role of public-private partnerships in advancing Zambia’s energy sector growth, unpacking how the country is working with private players to advance power projects.

In the oil and gas industry, Zambia is prioritizing cooperation with regional counterparts – including Angola, Namibia and Tanzania – to fund infrastructure projects and secure petroleum supplies. The country’s total petroleum requirements are met through imports due to the lack of commercial oil and gas discoveries. As such, cross-border projects have been given priority status as the government aims to secure trade partnerships.

Zambian company Tazama Pipelines plans to invest $2.5 billion towards the expansion of the existing Tanzania-Zambia Crude Oil Pipeline. The pipeline will enable Zambia to capitalize on oil and gas from upcoming projects across the East African region, including the Kingfisher and Tilenga developments in Uganda and the Tanzania LNG project. In 2023, Zambia and Tanzania agreed to enhance financial and security contributions to protect and maintain the pipeline.

Additionally, in January 2023, Zambia signed an agreement with Angola to increase oil and gas imports, following a 2022 deal where Zambia acquired a stake in Angola’s planned 200,000 barrels per day Lobito Refinery project. Zambia and Angola are also working on a $5 billion pipeline project to transport petroleum products from Angola to Zambia. Furthermore, in 2022, Zambia signed a deal with Namibia to develop an oil pipeline from the Namibian port of Walvis Bay. The pipeline will enable Zambia to tap into Namibia’s growing oil and gas potential from the country’s recent discoveries.

In-country, private and public entities are adopting new financing mechanisms to support infrastructure growth. Swiss petroleum business company Puma Energy partnered with Zambian bank Zanaco to launch the Micro-Financing LPG project in 2023. The project will provide funding to consumers and LPG businesses to accelerate the adoption of LPG for clean cooking in Zambia. AEW: Invest in African Energy represents the best platform for Minister Musokotwane to discuss incentives and policies aimed at attracting investment across Zambia’s oil and gas value chain.

“Zambia has made notable progress in integrating its energy sector with regional counterparts to strengthen its grid and energy supply. Zambia’s investment climate is positive, presenting an opportunity for the country to secure new partners for energy sector growth,” stated NJ Ayuk, the Executive Chairman of the African Energy Chamber.

During AEW: Invest in African Energy, Minister Musokotwane will engage in high-level panel discussions and exclusive networking sessions, highlighting lucrative investment prospects in Zambia’s energy industry.

Distributed by APO Group on behalf of African Energy Chamber.

Multinational energy corporation Chevron has signed two Risk Service Contracts (RSC) for Block 49 and Block 50, located in the ultra-deep waters of Angola’s Lower Congo Basin. The company – through its Angolan subsidiary Cabinda Gulf Oil Company Limited ­– was initially awarded the concessions by way of Presidential Decree in January 2024. The signing of the RSCs kicks off exploration and lays the foundation for the development of the blocks.

As the voice of the African energy sector, the African Energy Chamber (AEC) commends the recent signing by Chevron in Angola. Chevron’s rich history of exploration and production in the country – covering 70 years – could not have been possible without Angola’s strong regulatory environment and the AEC supports the ongoing efforts by the multinational to expanding Angola’s oil and gas market.

Representing the company’s first operated assets outside of the existing Cabinda concessions, Block 49 and 50 are situated in close proximity to producing concessions such as Block 17 – one of the first deep-offshore blocks to be licensed in Angola. As such, the blocks hold substantial potential for strong returns and further expand Angola’s portfolio of producing ultra-deepwater assets. Earlier this year, Chevron signed an agreement with Angola’s national concessionaire – the National Oil, Gas&Biofuels Agency – to conduct seismic surveys in Blocks 49 and 50. These studies will improve the geological understanding of the concessions and advance the exploration agenda.

The RSCs add to Chevron’s strong asset portfolio in Angola. The company currently has a 26% market share in the country, with interests in Block 0 and 14 – which produce an average of 70,000 barrels of liquids per day and 259 million cubic feet of natural gas per day. Block 0 – whose concession has been extended to 2050 – is comprised of 21 fields, while Block 14 contains nine fields. An agreement signed between Chevron and the government in 2020 combined all of Block 14’s development areas, providing improved fiscal terms while extending the production sharing contract to 2028. Additionally, in 2023, Chevron signed a production sharing agreement to manage operations within the Block 14/23 concession area. The concession is situated in the Zone of Common Interest shared by Angola and the Democratic Republic of the Congo, with the agreement seeing Chevron act as operator with a 31% stake in the block.

Chevron’s operations in Angola transcend oil and gas exploration, with the company holding non-operating interests in the Angola LNG plant – Angola’s inaugural LNG facility. Angola LNG processes gas from offshore concessions, generating critical revenue for the country through LNG exports. In 2023, the facility reached a milestone of delivering its 400th LNG cargo. Going forward, the development of new concessions aims to bolster LNG production at the facility. Specifically, the Chevron-operated Sanha Lean Gas Connection Project – valued at $300 million – comprises the development of a platform that ties into the existing Sanha Condensate complex and features pipelines connecting Block 0 and 14 to the Angola LNG facility. The project reached a final investment decision in 2021 and aims to address a supply gap at Angola LNG.

Beyond exploration and production, Chevron is spearheading low-carbon solutions across Angola’s oil and gas industry. The multinational signed an agreement with the government in October 2023 to explore low-carbon business opportunities, with the goal to utilize nature-based and technological carbon offsets – alongside lower-carbon intensity fuels such as hydrogen – to enhance the country’s production. This will be undertaken in conjunction with oil and gas initiatives and showcases Chevron’s future-oriented approach to energy development in Angola.

“Chevron’s recent signing of two RSCs further underscores the value of implementing a strong regulatory and fiscal environment in Africa. When governments open up the market through attractive fiscal terms, the industry will respond positively. This is clearly evident in Angola where a commitment to creating an enabling environment for doing business has and continues to attract foreign companies. Other countries in Africa should learn from this and adopt proactive measures to attracting foreign capital,” states NJ Ayuk, Executive Chairman of the AEC.

Distributed by APO Group on behalf of African Energy Chamber.