ORGO Shareholder/Stockholder Letter Transcript:
2324
677869
012345 738347
7490 23247 815
4 9 81 4 9 2772 1
87 21 3 1 59
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FGHIJKLM NO JPMJQ RKSQ IT LPM SMUIVLSKGL IV K WMXXYQGZWG VMKVZGMH IVV[MS\ KV HMTIGMH IG ][XM ^_` ZT LPM aMJ[SILIMV bJLc dMV 1 eZ "
FGHIJKLM NO JPMJQ RKSQ IT LPM SMUIVLSKGL IV GZL SMf[ISMH LZ TIXM SMgZSLV g[SV[KGL LZ aMJLIZG hi ZS aMJLIZG h`jHk ZT LPM bJLc dMV 1 eZ "
FGHIJKLM NO JPMJQ RKSQ WPMLPMS LPM SMUIVLSKGL jhk PKV TIXMH KXX SMgZSLV SMf[ISMH LZ NM TIXMH NO aMJLIZG hi ZS h`jHk ZT LPM aMJ[SILIMV lmJPKGUM bJL ZT hni^ H[SIGU LPM gSMJMHIGU
ho RZGLPV jZS TZS V[JP VPZSLMS gMSIZH LPKL LPM SMUIVLSKGL WKV SMf[ISMH LZ TIXM V[JP SMgZSLVk\ KGH jok PKV NMMG V[NpMJL LZ V[JP TIXIGU SMf[ISMRMGLV TZS LPM gKVL n_ HKOVc dMV " eZ 1
FGHIJKLM NO JPMJQ RKSQ WPMLPMS LPM SMUIVLSKGL PKV V[NRILLMH MXMJLSZGIJKXXO MqMSO FGLMSKJLIqM rKLK sIXM SMf[ISMH LZ NM V[NRILLMH g[SV[KGL LZ ][XM ^_` ZT ]MU[XKLIZG aYt ju
oioc^_` ZT LPIV JPKgLMSk H[SIGU LPM gSMJMHIGU ho RZGLPV jZS TZS V[JP VPZSLMS gMSIZH LPKL LPM SMUIVLSKGL WKV SMf[ISMH LZ V[NRIL V[JP TIXMVkc dMV " eZ 1
FGHIJKLM NO JPMJQ RKSQ WPMLPMS LPM SMUIVLSKGL IV K XKSUM KJJMXMSKLMH TIXMS\ KG KJJMXMSKLMH TIXMS\ K GZGYKJJMXMSKLMH TIXMS\ K VRKXXMS SMgZSLIGU JZRgKGO\ ZS KG MRMSUIGU USZWLP
JZRgKGOc aMM LPM HMTIGILIZGV ZT vXKSUM KJJMXMSKLMH TIXMS\v vKJJMXMSKLMH TIXMS\v vVRKXXMS SMgZSLIGU JZRgKGO\v KGH vMRMSUIGU USZWLP JZRgKGOv IG ][XM hoNYo ZT LPM lmJPKGUM bJLc
wKSUM KJJMXMSKLMH TIXMS 1
bJJMXMSKLMH TIXMS
eZGYKJJMXMSKLMH TIXMS 1
aRKXXMS SMgZSLIGU JZRgKGO 1
lRMSUIGU USZWLP JZRgKGO 1
FT KG MRMSUIGU USZWLP JZRgKGO\ IGHIJKLM NO JPMJQ RKSQ IT LPM SMUIVLSKGL PKV MXMJLMH GZL LZ [VM LPM MmLMGHMH LSKGVILIZG gMSIZH TZS JZRgXOIGU WILP KGO GMW ZS SMqIVMH
TIGKGJIKX KJJZ[GLIGU VLKGHKSHV gSZqIHMH g[SV[KGL LZ aMJLIZG hijKk ZT LPM lmJPKGUM bJL 1
FGHIJKLM NO JPMJQ RKSQ WPMLPMS LPM SMUIVLSKGL PKV TIXMH K SMgZSL ZG KGH KLLMVLKLIZG LZ ILV RKGKUMRMGLxV KVVMVVRMGL ZT LPM MTTMJLIqMGMVV ZT ILV IGLMSGKX JZGLSZX ZqMS TIGKGJIKX
SMgZSLIGU [GHMS aMJLIZG ^_^jNk ZT LPM aKSNKGMVYymXMO bJL jh` zcac{c |o}ojNkk NO LPM SMUIVLMSMH g[NXIJ KJJZ[GLIGU TISR LPKL gSMgKSMH ZS IVV[MH ILV K[HIL SMgZSLc "
FT VMJ[SILIMV KSM SMUIVLMSMH g[SV[KGL LZ aMJLIZG hojNk ZT LPM bJL\ IGHIJKLM NO JPMJQ RKSQ WPMLPMS LPM TIGKGJIKX VLKLMRMGLV ZT LPM SMUIVLSKGL IGJX[HMH IG LPM TIXIGU SMTXMJL LPM
JZSSMJLIZG ZT KG MSSZS LZ gSMqIZ[VXO IVV[MH TIGKGJIKX VLKLMRMGLVc 1
FGHIJKLM NO JPMJQ RKSQ WPMLPMS KGO ZT LPZVM MSSZS JZSSMJLIZGV KSM SMVLKLMRMGLV LPKL SMf[ISMH K SMJZqMSO KGKXOVIV ZT IGJMGLIqMYNKVMH JZRgMGVKLIZG SMJMIqMH NO KGO ZT LPM
SMUIVLSKGLxV MmMJ[LIqM ZTTIJMSV H[SIGU LPM SMXMqKGL SMJZqMSO gMSIZH g[SV[KGL LZ uo^_ch_rYhjNkc 1
FGHIJKLM NO JPMJQ RKSQ WPMLPMS LPM SMUIVLSKGL IV K VPMXX JZRgKGO jKV HMTIGMH IG ][XM hoNYo ZT LPM lmJPKGUM bJLkc dMV 1 eZ "
tPM KUUSMUKLM RKSQML qKX[M ZT LPM qZLIGU JZRRZG VPKSMV PMXH NO GZGYKTTIXIKLMV ZT LPM SMUIVLSKGL WKV KggSZmIRKLMXO hnncn RIXXIZG\ JZRg[LMH NO SMTMSMGJM LZ LPM JXZVIGU VKXM
gSIJM ZT LPM {XKVV b JZRRZG VLZJQ KV SMgZSLMH NO tPM eKVHKf {KgILKX KSQML ZG [GM i_\ o_o^\ LPM XKVL LSKHIGU HKO ZT LPM SMUIVLSKGLxV RZVL SMJMGLXO JZRgXMLMH VMJZGH TIVJKX
f[KSLMSc tPM {ZRgKGO PKV GZ GZGYqZLIGU JZRRZG VPKSMVc
tPM G[RNMS ZT VPKSMV ZT LPM SMUIVLSKGLxV {XKVV b JZRRZG VLZJQ Z[LVLKGHIGU KV ZT sMNS[KSO o^\ o_o` WKV ho}\ o \_noc
5 90 4137 219 $ 8345 . 4 4 4194
{MSLKIG IGTZSRKLIZG SMf[ISMH LZ NM gSZqIHMH IG KSL FFF ZT LPIV bGG[KX ]MgZSL ZG sZSR h_Y WIXX NM gSZqIHMH NO K rMTIGILIqM SZmO aLKLMRMGL TZS Z[S o_o^ bGG[KX MMLIGU
ZT aLZJQPZXHMSV jLPM v SZmO aLKLMRMGLvk LZ NM TIXMH WILP LPM aMJ[SILIMV KGH lmJPKGUM {ZRRIVVIZG ZG ZS NMTZSM bgSIX i_\ o_o`c
b[HILZS sISR FH ^n
b[HILZS eKRM ]a za ww
b[HILZS wZJKLIZG ZVLZG\ KVVKJP[VMLLV
5/12/2025 Letter Continued (Full PDF)