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 | LOBBYING REPORT | 
Lobbying Disclosure Act of 1995 (Section 5) - All Filers Are Required to Complete This Page
2. Address
| Address1 | 99 Chauncy Street, 6th Floor | Address2 | 
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| City | Boston | State | MA | Zip Code | 02111 | Country | USA | 
3. Principal place of business (if different than line 2)
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 | 5. Senate ID# 400426044-12 | ||||||||
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 | 6. House ID# 406720000 | ||||||||
| TYPE OF REPORT | 8. Year | 2025 | Q1 (1/1 - 3/31) | Q2 (4/1 - 6/30) | Q3 (7/1 - 9/30) | Q4 (10/1 - 12/31) | 
9. Check if this filing amends a previously filed version of this report
| 10. Check if this is a Termination Report | Termination Date | 
   | 11. No Lobbying Issue Activity | 
| INCOME OR EXPENSES - YOU MUST complete either Line 12 or Line 13 | |||||||||
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| 12. Lobbying | 13. Organizations | ||||||||
| INCOME relating to lobbying activities for this reporting period was: | EXPENSE relating to lobbying activities for this reporting period were: | ||||||||
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| Provide a good faith estimate, rounded to the nearest $10,000, of all lobbying related income for the client (including all payments to the registrant by any other entity for lobbying activities on behalf of the client). | 14. REPORTING Check box to indicate expense accounting method. See instructions for description of options. | ||||||||
| Method A.
                Reporting amounts using LDA definitions only Method B. Reporting amounts under section 6033(b)(8) of the Internal Revenue Code Method C. Reporting amounts under section 162(e) of the Internal Revenue Code | |||||||||
| Signature | Digitally Signed By: Susan Boyer | Date | 10/20/2025 10:35:28 PM | 
LOBBYING ACTIVITY. Select as many codes as necessary to reflect the general issue areas in which the registrant engaged in lobbying on behalf of the client during the reporting period. Using a separate page for each code, provide information as requested. Add additional page(s) as needed.
15. General issue area code ENG
16. Specific lobbying issues
Ceres and participating companies advocated for the continued implementation and protection of clean energy tax incentives and credits established under the Energy Policy Act of 2005 and the Inflation Reduction Act. Specifically, we supported Amendment #2564 (Shaheen-Welch) to Amendment #2360 to H.R. 1 (the One Big Beautiful Bill), which would have repealed provisions in H.R. 1 that terminate key energy efficiency and clean energy tax credits, including those for residential improvements (25C), clean energy installations (25D), energy-efficient commercial buildings (179D), and new energy-efficient homes (45L). We also monitored and opposed Amendment #2704 (Ernst) to Amendment #2360 to H.R. 1, which proposed phasing out clean electricity production tax credits and eliminating penalties for using materials from foreign entities of concern.
17. House(s) of Congress and Federal agencies Check if None
U.S. SENATE, U.S. HOUSE OF REPRESENTATIVES
18. Name of each individual who acted as a lobbyist in this issue area
| First Name | Last Name | Suffix | Covered Official Position (if applicable) | New | 
| Anne | Kelly |  |  | 
19. Interest of each foreign entity in the specific issues listed on line 16 above Check if None
      
LOBBYING ACTIVITY. Select as many codes as necessary to reflect the general issue areas in which the registrant engaged in lobbying on behalf of the client during the reporting period. Using a separate page for each code, provide information as requested. Add additional page(s) as needed.
15. General issue area code FIN
16. Specific lobbying issues
Ceres participated in an Investor Voice Network Hill Day, meeting with Congressional offices to discuss key shareholder rights issues, including sharing concerns regarding a series of legislative proposals that would restrict the ability of institutional investors and fiduciaries to consider environmental, social, and governance (ESG) factors in investment decisions and proxy voting. Specifically, we opposed H.R. 2988 (Protecting Prudent Investment of Retirement Savings Act), which would codify a 2020 rule prohibiting ERISA fiduciaries from considering ESG factors, even when financially material. We also opposed H.R. 3402, which would impose duplicative and burdensome disclosure requirements on institutional investors regarding proxy voting, including alignment with proxy advisory firm recommendations.
In addition, we opposed the following discussion drafts and bills amending the Securities Exchange Act of 1934:
H.R. 4589 (Rep. Steil) - Requires proxy advisory firms to register with the SEC and meet extensive compliance, disclosure, and conflict-of-interest requirements.
H.R. 4767 (Rep. Steil) - Includes provisions to impose liability on proxy advisory firms for material misstatements and failures to disclose information.
H.R. 4662 (Rep. Wagner) - Requires the SEC to conduct recurring studies on shareholder proposals, proxy advisory firms, and the proxy process.
H.R. [Draft] (Rep. Nunn) - Prohibits institutional investors from engaging in robovoting and outsourcing proxy voting decisions without independent analysis.
We also opposed H.R. 4098 (Stopping Proxy Advisor Racketeering Act, Rep. Fitzgerald) which prohibits proxy advisory firms from providing voting advice if they have conflicts of interest, including consulting relationships with issuers.
These proposals would increase compliance costs, reduce investment efficiency, and undermine fiduciary responsibility to act in the best interests of beneficiaries. Ceres advocated for maintaining the ability of investors to consider all financially relevant factors and to use efficient tools in fulfilling their fiduciary duties.
17. House(s) of Congress and Federal agencies Check if None
U.S. SENATE, U.S. HOUSE OF REPRESENTATIVES, Securities & Exchange Commission (SEC)
18. Name of each individual who acted as a lobbyist in this issue area
| First Name | Last Name | Suffix | Covered Official Position (if applicable) | New | 
| Anne | Kelly |  |  | 
19. Interest of each foreign entity in the specific issues listed on line 16 above Check if None
      
LOBBYING ACTIVITY. Select as many codes as necessary to reflect the general issue areas in which the registrant engaged in lobbying on behalf of the client during the reporting period. Using a separate page for each code, provide information as requested. Add additional page(s) as needed.
15. General issue area code TAX
16. Specific lobbying issues
Ceres and participating companies advocated for the continued implementation and protection of clean energy tax incentives and credits established under the Energy Policy Act of 2005 and the Inflation Reduction Act. Specifically, we supported Amendment #2564 (Shaheen-Welch) to Amendment #2360 to H.R. 1 (the One Big Beautiful Bill), which would have repealed provisions in H.R. 1 that terminate key energy efficiency and clean energy tax credits, including those for residential improvements (25C), clean energy installations (25D), energy-efficient commercial buildings (179D), and new energy-efficient homes (45L). We also monitored and opposed Amendment #2704 (Ernst) to Amendment #2360 to H.R. 1, which proposed phasing out clean electricity production tax credits and eliminating penalties for using materials from foreign entities of concern.
17. House(s) of Congress and Federal agencies Check if None
U.S. HOUSE OF REPRESENTATIVES, U.S. SENATE, White House Office
18. Name of each individual who acted as a lobbyist in this issue area
| First Name | Last Name | Suffix | Covered Official Position (if applicable) | New | 
| Anne | Kelly |  |  | 
19. Interest of each foreign entity in the specific issues listed on line 16 above Check if None
      
Information Update Page - Complete ONLY where registration information has changed.
20. Client new address
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21. Client new principal place of business (if different than line 20)
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22. New General description of client’s business or activities
LOBBYIST UPDATE
23. Name of each previously reported individual who is no longer expected to act as a lobbyist for the client
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ISSUE UPDATE
24. General lobbying issue that no longer pertains
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AFFILIATED ORGANIZATIONS
25. Add the following affiliated organization(s)
Internet Address:
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26. Name of each previously reported organization that is no longer affiliated with the registrant or client
| 1 | 2 | 3 | 
FOREIGN ENTITIES
27. Add the following foreign entities:
| Name | Address | Principal place of business (city and state or country) | Amount of contribution for lobbying activities | Ownership percentage in client | ||||||||||
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28. Name of each previously reported foreign entity that no longer owns, or controls, or is affiliated with the registrant, client or affiliated organization
| 1 | 3 | 5 | 
| 2 | 4 | 6 | 
CONVICTIONS DISCLOSURE
29. Have any of the lobbyists listed on this report been convicted in a Federal or State Court of an offense involving bribery,
		  extortion, embezzlement, an illegal kickback, tax evasion, fraud, a conflict of interest, making a false statement, perjury, or money laundering?
		  
| Lobbyist Name | Description of Offense(s) |