EPAM Launches Ukraine Assistance Fund
EPAM Systems has launched the EPAM Ukraine Assistance Fund to provide direct relief to vulnerable individuals in Ukraine. This initiative complements the company’s prior commitment of $100 million for humanitarian efforts. The fund, operated with Renaissance Charitable Foundation, aims to collect and distribute tax-deductible donations for urgent needs, including medical supplies and shelter. EPAM’s close ties to Ukraine, with over 14,000 employees from the region, inform their strategy for effective assistance. Additional details about donating are available on their website.
- Launch of the EPAM Ukraine Assistance Fund to provide relief in Ukraine.
- Continuing commitment of $100 million for humanitarian efforts.
- Direct partnership with Renaissance Charitable Foundation for efficient fund management.
- Leverage of a strong network of 14,000 Ukrainian employees to identify and respond to needs.
- None.
Advancing EPAM's Ongoing Humanitarian Efforts in Ukraine
NEWTOWN, Pa., April 11, 2022 /PRNewswire/ -- EPAM Systems, Inc. (NYSE: EPAM), a leading digital transformation services and product engineering company, today announced that it has established the EPAM Ukraine Assistance Fund (the 'Assistance Fund') to support charitable aid organizations that provide direct relief to those in vulnerable situations across Ukraine. This fund is separate from and in addition to the
"With more than 14,000 Ukrainian employees, and with many in EPAM global locations who originated in Ukraine, we have an extensive network of more than 50,000 family members and friends who are deeply affected by the crisis in Ukraine. Our personal connection gives us a unique perspective on what is really needed on the ground. Our customers and partners have overwhelmed us with their outpouring of support and their direct requests to contribute to our efforts to help all the people of Ukraine. In response to such requests and by using our insights and ability to act on the ground, we established the EPAM Ukraine Assistance Fund. Together with our customers and partners, we are enabling people and organizations around the world to help Ukraine and the people of Ukraine," – said Arkadiy Dobkin, CEO & President, EPAM.
The Assistance Fund operates in partnership with Renaissance Charitable Foundation Inc., a publicly supported charity and sponsoring organization of donor-advised funds. Together, we will collect, administer, and distribute tax-deductible charitable donations to areas of most urgent need within the region.
EPAM leveraged its extensive network and conducted due diligence to identify credible recipients of the Assistance Fund including two initial 501(c) (3) public charities: Leleka Foundation and Razom, Inc. The support provided by these organizations will include medical supplies, safe shelter, hot meals, hygiene supplies, transport to safe areas, counseling, and other humanitarian assistance. As the situation evolves the fund will add additional charities as recipients.
Additional information on the Assistance Fund and how to donate can be found at www.epam.com/support-ukraine.
About EPAM Systems
Since 1993, EPAM Systems, Inc. (NYSE: EPAM) has leveraged its advanced software engineering heritage to become the foremost global digital transformation services provider – leading the industry in digital and physical product development and digital platform engineering services. Through its innovative strategy; integrated advisory, consulting and design capabilities; and unique 'Engineering DNA,' EPAM's globally deployed hybrid teams help make the future real for clients and communities around the world by powering better enterprise, education and health platforms that connect people, optimize experiences, and improve people's lives. Selected by Newsweek as a 2021 Most Loved Workplace, EPAM's global multi-disciplinary teams serve customers in more than 40 countries across five continents. As a recognized leader, EPAM is listed among the top 15 companies in Information Technology Services on the Fortune 1000 and ranked as the top IT services company on Fortune's 100 Fastest-Growing Companies list for the last three consecutive years. EPAM is also listed among Ad Age's top 25 World's Largest Agency Companies and in 2020, Consulting Magazine named EPAM Continuum a top 20 Fastest-Growing Firm. Learn more at www.epam.com and follow EPAM on Twitter and LinkedIn.
Forward-Looking Statements
This press release includes estimates and statements which may constitute forward-looking statements made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995, the accuracy of which are necessarily subject to risks, uncertainties, and assumptions as to future events that may not prove to be accurate. Our estimates and forward-looking statements are mainly based on our current expectations and estimates of future events and trends, which affect or may affect our business and operations. These statements may include words such as "may," "will," "should," "believe," "expect," "anticipate," "intend," "plan," "estimate" or similar expressions. Those future events and trends may relate to, among other things, developments relating to on-going hostilities in Ukraine, political and civil unrest or military action in the geographies where we conduct business and operate, developments relating to the on-going COVID-19 pandemic, and the effect that they may have on our revenues, operations, access to capital, profitability and customer demand. Other factors that could cause actual results to differ materially from those expressed or implied include general economic conditions, the risk factors discussed in the Company's most recent Annual Report on Form 10-K for the 2021 fiscal year, particularly under the headings "Management's Discussion and Analysis of Financial Condition and Results of Operations" and "Risk Factors" and other filings with the Securities and Exchange Commission. Although we believe that these estimates and forward-looking statements are based upon reasonable assumptions, they are subject to several risks and uncertainties and are made in light of information currently available to us. EPAM undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise, except as may be required under applicable securities law.
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SOURCE EPAM Systems, Inc.
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