+ + + Who we are Contents Who we are 1 What we do 3 2025 highlights 4 A message from our CEO 5 Technology 7 Governance 11 Adoption 15 Cardano Summit 2025 21 Financial reporting 25 Technology Innovating blockchain solutions for emerging needs and ensuring Cardano’s reputation as a blockchain that is secure, predictable, and designed for long-term sustainability. Governance Supporting transition to fully decentralized, on-chain governance to solidify Cardano’s identity as an open public infrastructure. Adoption Promoting and strengthening enterprise confidence through education, engagement, and applied use cases. Find out more on p7 Find out more on p7 Find out more on p11 Find out more on p11 Find out more on p15 Find out more on p15 colleagues identifying opportunities and addressing challenges of the blockchain in the real world teams working with institutions, businesses, regulators, policymakers, and the Cardano community countries represented, bringing local and global knowledge Colleagues Teams Countries 1 0 2 3 4 5 6 7 8 9 1 0 2 3 4 5 6 7 8 9 2 0 2 3 4 5 6 7 8 9 5 0 2 3 4 5 6 7 8 9 0 0 2 3 4 5 6 7 8 9 0 0 2 3 4 5 6 7 8 9 0 0 2 3 4 5 6 7 8 9 Cardano Foundation Activity Report 2025 2