Q1 2025 Earnings April 24, 2025 Q1 2025 Earnings Note About Forward-Looking Statements and Non-GAAP Financial Measures This presentation may contain forward-looking statements regarding our business, operations, and financial performance. Such statements are based on current expectations and assumptions that are subject to a number of risks and uncertainties. Actual results could differ materially. Please refer to our Forms 10-K and 10-Q, including the risk factors. We undertake no obligation to update any ...

Financial Guidance - Full-year 2025 adjusted diluted EPS guidance is projected to be between $11.99 and $12.19, including the impact of Q1 2025 expenses[6] - Q1 2025 adjusted diluted EPS guidance is estimated to be between $2.34 and $2.38, factoring in the acquired IPR&D and milestones expense[6] Expenses and Impact - AbbVie expects acquired IPR&D and milestones expense of $248 million for Q1 2025, impacting GAAP and adjusted non-GAAP diluted EPS by $0.13[5] - The licensing agreement with Gubra for GUB014295 closed after Q1 2025 and is not included in the current guidance[6] Risks and Uncertainties - AbbVie cautions that forward-looking statements are subject to risks and uncertainties that may materially affect actual results[9]

Financial Data and Key Metrics Changes - Weyerhaeuser reported first quarter GAAP earnings of $83 million or $0.11 per diluted share on net sales of $1.8 billion [6] - Adjusted EBITDA totaled $328 million, a 12% increase over the fourth quarter of 2022 [7] - The company ended the first quarter with $560 million of cash and total debt of just under $5.2 billion [31] Business Line Data and Key Metrics Changes - Timberlands contributed $102 million to first quarter earnings with adjusted EBITDA of $167 million, a $41 million increase compared to the fourth quarter [8] - Real Estate and Natural Resources contributed $56 million to first quarter earnings and $82 million to adjusted EBITDA, with a $6 million increase from the fourth quarter [16] - Wood Products contributed $106 million to first quarter earnings with adjusted EBITDA of $161 million, comparable to fourth quarter results [19] Market Data and Key Metrics Changes - Log demand was healthy in the first quarter, with pricing for grade logs increasing significantly compared to the fourth quarter [9] - In Japan, sales volumes for export logs increased significantly compared to the fourth quarter due to improved demand [11] - In China, log demand moderated significantly due to reduced consumption during the Lunar New Year holiday, leading to a decrease in sales volumes [12] Company Strategy and Development Direction - The company is focused on advancing its Carbon Capture and Sequestration (CCS) project, with a significant milestone achieved through a 25-year off-take agreement with Occidental Petroleum [18] - Weyerhaeuser aims to capitalize on steady demand and pricing for high-value real estate properties [16] - The company is strategically shifting logs to domestic customers in response to market conditions, particularly in light of the ban on U.S. log imports to China [10] Management's Comments on Operating Environment and Future Outlook - Management noted that the housing market remains uncertain, with homebuilder sentiment waning due to economic concerns [50] - The company remains optimistic about long-term housing demand supported by demographic trends and low existing home inventories [51] - Management expects a slight uptick in demand for engineered wood products as building activity increases in warmer months [72] Other Important Information - The company returned $152 million to shareholders through dividends, marking the fourth consecutive year of increasing the base dividend by 5% [32] - Capital expenditures for the quarter were $93 million, including $16 million for the construction of an engineered wood products facility [34] - The company anticipates adjusted EBITDA for the real estate segment to be approximately $50 million higher in the second quarter compared to the first quarter [43] Q&A Session Summary Question: What is the outlook for lumber demand as the building season begins? - Management indicated that overall lumber demand is steady, with some pullback noted in builder confidence levels [62] Question: How do you see the outlook for engineered wood products (EWP) pricing? - Management expects pricing for EWP to remain comparable in the near term, with volumes anticipated to increase due to seasonal building activity [72] Question: Have you adjusted your harvest profile given the softer demand? - Management stated that harvest levels are set to be within sustainable levels and do not anticipate changes unless a significant recession occurs [78] Question: Can you provide more details on the Occidental Petroleum agreement? - Management expressed excitement about the CCS project, noting it is a significant milestone and expects first injection to begin in 2029 [84] Question: How do you view the impact of potential tariffs on timberland valuations? - Management does not expect a meaningful impact on timberland valuations in the near term due to the long-term nature of the asset class [94] Question: What is the expected impact of planned maintenance on OSB pricing? - Management indicated that the planned maintenance would not have a meaningful impact on operating rates in the second quarter [102] Question: How are channel inventories characterized in the current market? - Management noted that inventories are lighter than usual for this time of year, but supply is currently meeting demand [114] Question: What is the outlook for repair and remodel (R&R) activity? - Management expects R&R activity to pick up later in the year, supported by high levels of home equity and an aging housing stock [141]

Financial Data and Key Metrics Changes - The company reported record revenue of $2.5 billion, record adjusted earnings of $770 million or $1.53 per share, and record adjusted EBITDA of $1.6 billion [18] - Gold production was approximately 874,000 ounces, with cash costs of $903 per ounce, which were similar to the previous year's first quarter [18][19] - The company returned $0.25 billion to shareholders through dividends and share buybacks [9] Business Line Data and Key Metrics Changes - The Detour mine achieved a new tonnage record, while Meliadine and Macassa also reported strong operational performance [29][44] - Hope Bay is projected to add 400,000 ounces per year in the 2030s, with significant progress made in project preparations [34] - The Malartic project aims to reach a production target of one million ounces per year, with ongoing construction and exploration efforts [37][41] Market Data and Key Metrics Changes - Gold prices have increased by over $1,000 an ounce, benefiting the company's financial performance [7] - The company maintained its cost guidance for the year, expecting cash costs to be within the range of $915 to $965 per ounce [20] Company Strategy and Development Direction - The company is focused on building a long-term, sustainable business, with significant investments in exploration and growth projects [12] - The strategy includes maintaining a strong balance sheet, increasing returns to shareholders, and investing in high-return internal growth projects [26][27] - The company emphasizes operational risk management and maintaining a disciplined approach to capital allocation [64] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the company's ability to deliver strong performance for the rest of the year, supported by solid production and cost control [6][10] - The management highlighted the importance of sustainability and community engagement in their operations [12][17] - Future growth is expected to come from ongoing projects and exploration results, with a focus on regions with geological potential and political stability [66] Other Important Information - The company has largely eliminated its net debt, ending the quarter with close to zero net debt, significantly improving its financial flexibility [22] - Moody's revised the company's rating outlook from stable to positive, reflecting its improving credit profile [23] Q&A Session Summary Question: How might the medium-term mine planning and shaft positioning be impacted by Eclipse? - Management indicated that Eclipse will be more relevant in the mid-long term and could assist in the second shaft development [72] Question: What is the drilling plan for Marban? - The drilling is focused on the Eastern Extension, with an update on reserves expected by the end of the year [75] Question: What is the timeline for the second shaft at Malartic? - The second shaft is expected to be in production in the early 2030s [84] Question: How does the company view the potential for buying back royalties? - Management is open to evaluating opportunities to buy back royalties if it makes sense for shareholders [122] Question: What is the company's stance on moving into base metals? - The company remains gold-centric but is open to opportunities in base metals if they present a competitive advantage [130]

April 25, 2025 Overview 1Q 2025 First Quarter 2025 Earnings Release 1 Forward-Looking Statements This news release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. All statements other than statements of historical fact are, or may be deemed to be, forward-looking statements. Words such as "anticipates," "expects," "estimates," "intends," "goals," "targets," "projects," "plans, ...

Q1 2025 Financial Results Apollo Commercial Real Estate Finance, Inc. April 24, 2025 Unless otherwise noted, information as of It should not be assumed that investments made in the future will be profitable or will equal the performance of the investments shown in this document. March 31, 2025 Forward Looking Statements and Other Disclosures Q1 Summary Results This presentation may contain forward-looking statements that are within the meaning of Section 27A of the Securities Act of 1933, as amended, and Se ...

Financial Data and Key Metrics Changes - Apollo Commercial Real Estate Finance reported distributable earnings of $33 million or $0.24 per share for Q1 2025, with GAAP net income of $23 million or $0.16 per diluted share, providing 96% coverage of the quarterly dividends [15][16] - The loan portfolio ended the quarter with a carrying value of $7.7 billion, up from $7.1 billion at year-end, with a weighted average yield of 7.9% [17][19] - The debt-to-equity ratio at quarter end was 3.5x, up from 3.2x at year-end, reflecting the recirculation of proceeds from repayments into new leveraged deals [22] Business Line Data and Key Metrics Changes - The first quarter saw continued velocity in loan originations, with $650 million of new loans committed, primarily secured by residential properties and a data center construction loan [9][10] - Loan repayments totaled $93 million during the quarter, which were quickly redeployed through new origination post-quarter end, amounting to $709 million in total commitments on new loans in Q2 to date [18][20] Market Data and Key Metrics Changes - The real estate market is experiencing modest spread widening and a more cautious tone, with a broad recession presenting the greatest risk to ongoing recovery [7][8] - Limited new supply due to tariff effects driving up construction costs is expected to positively impact long-term real estate values and fundamentals [8] Company Strategy and Development Direction - The company is focused on proactive asset management and executing plans on focus loans to maximize value recovery and convert capital into higher return opportunities [13] - The strategy includes financing developers of data centers with strong credit tenants and long-term leases, reflecting a commitment to sectors with strong secular tailwinds [10][11] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the loan portfolio's ability to produce distributable earnings that support the current quarterly dividend run rate, despite Q1 earnings being slightly below this rate [14][16] - The company anticipates a recovery in distributable earnings for the remaining quarters of 2025, driven by growth in the loan portfolio and recirculation of underperforming capital [16] Other Important Information - The company has defined pathways for each focus asset and is actively pursuing resolutions, with a focus on selling the Liberty Center asset in the latter part of the year [28] - The company ended the quarter with $218 million of total liquidity, comprised of cash on hand and committed undrawn credit capacity [22] Q&A Session Summary Question: Concerns about realizing losses on non-accruing assets - Management indicated that specific CECL allowances are tied to two assets, with plans to sell Liberty Center later this year and positive sales momentum for 111 West 57th Street [26][28] Question: Market impacts on loan repayments and new money deployment - Management noted that the market remains robust, with no anticipated slowdown in transactions despite recent volatility [34][36] Question: Updates on specific assets and portfolio growth - Management provided updates on various assets, indicating positive leasing activity and potential recapitalization strategies for the Manhattan office [56][63] Question: Exposure in the U.K. and Europe - Management explained that the company's European operations were established through relationships with U.S. sponsors and have developed a strong presence in the market over the past decade [87][90]

Financial Data and Key Metrics Changes - The company anticipates a $200 million incremental impact from tariffs in 2025 compared to initial guidance [11] - Advertising spending is at an all-time high, reflecting a strong focus on driving ROI [16] - The company delivered strong profit growth in Q1 despite market volatility [17] Business Line Data and Key Metrics Changes - The Hill's business saw a 5% organic growth, indicating strong performance across all price tiers [69] - The company is focused on core innovation, including the relaunch of Colgate Total and Hill's Science Diet with ActiveBiome technology [10][62] - The company experienced a negative 3% organic sales growth in Q1 [30] Market Data and Key Metrics Changes - In North America, there was a notable softness in volume due to lower store traffic and consumer uncertainty [129] - Latin America continues to show strong market share performance, with expectations of recovery as the macro environment stabilizes [56][132] - The Chinese market remains challenging, particularly for the Hawley and Hazel business, while Colgate continues to perform well [57] Company Strategy and Development Direction - The company is focused on selling daily use products and enhancing brand health to drive long-term sustainable growth [9][22] - There is a commitment to innovation and premiumization, with plans to accelerate innovation in the second half of the year [62][119] - The company aims to leverage its global portfolio and geographic breadth to mitigate risks associated with market volatility [14][15] Management's Comments on Operating Environment and Future Outlook - Management acknowledges a weaker consumer environment and expects continued volatility in 2025 [8][17] - There are early signs of category improvement in April, providing some confidence for the future [10][28] - The company anticipates that consumer confidence will return, leading to improved consumption in the medium term [80] Other Important Information - The company has invested approximately $2 billion in its U.S. supply chain over the past five years to enhance flexibility [12][104] - The company is focused on maintaining a strong balance sheet with low levels of net debt [16] Q&A Session Summary Question: Consumer pressures and category growth outlook - Management noted that while there was a slowdown in volume growth, early signs in April indicate potential stabilization and recovery in categories [28][30] Question: North America shipment and consumption trends - Management confirmed that shipments are pacing well with category improvements, although more work is needed in North America [35][36] Question: Pricing approach and tariff impacts - Management indicated that pricing improved sequentially and that they are taking a market-specific approach to offset tariff impacts [41][44] Question: Emerging markets performance - Management reported strong market share in Latin America and ongoing challenges in China, with expectations for gradual improvement [55][57] Question: Advertising spend and innovation plans - Management clarified that advertising spending remains strong and that innovation plans are on track, with a focus on stimulating consumption [60][62] Question: Hill's brand performance amid trading down - Management stated that there has been no trade down in the Hill's brand, which continues to perform well across all price tiers [69][70] Question: Tariff exposure and mitigation strategies - Management outlined strategies to mitigate tariff impacts through productivity, revenue growth management, and alternative sourcing [100][104] Question: Back half of the year expectations - Management expressed confidence in improved category growth rates and market share performance in the back half of the year [121][125]

First Quarter 2025 Results April 25, 2025 About this Presentation Unless otherwise stated, references to "Canadian Malartic", "Goldex", "LaRonde" and "Meadowbank" are to the Company's operations at the Canadian Malartic complex, the Goldex complex, the LaRonde complex and the Meadowbank complex, respectively. The Canadian Malartic complex consists of the mining, milling and processing operations at the Canadian Malartic mine and the mining operations at the Odyssey mine. The Goldex complex consists of the m ...

COLGATE-PALMOLIVE COMPANY 1Q 2025 EARNINGS PRESENTATION APRIL 25, 2025 April 2025 Notice for Investor Presentation Please review the following first quarter 2025 earnings presentation in conjunction with our first quarter 2025 earnings press release, our first quarter 2025 prepared management remarks and additional information regarding our non-GAAP financial measures, including GAAP to non-GAAP reconciliations, which are available in the Investor Center section of our website at www.colgatepalmolive.com/in ...