Amsterdam, 26 March 2026 --- AMG Critical Materials N.V. ("AMG", EURONEXT AMSTERDAM: "AMG") has published its Agenda and Explanatory Notes for the 2026 Annual General Meeting (“AGM”) which will take place in Amsterdam, the Netherlands on May 7, 2026 at the Auditorium at the World Trade Center (WTC). Shareholders will have the option to exercise voting rights by providing voting instructions prior to the AGM in accordance with the (proxy) voting procedures. The Agenda and Explanatory Notes, including instruc ...

Core Insights - AMG Critical Materials N.V. has published its 2025 Annual Report, which is accessible on the company's website for investors and interested parties [1] Company Overview - AMG's mission focuses on providing critical materials and related process technologies to promote a less carbon-intensive world, emphasizing energy storage materials like lithium, vanadium, and tantalum [2] - The company also produces highly engineered systems aimed at reducing CO2 emissions in aerospace engines and other markets [2] Business Segments - AMG's Lithium segment covers the entire lithium value chain, aiming to lower the CO2 footprint for both suppliers and customers [3] - The Vanadium segment is a global leader in recycling vanadium from oil refining residues, encompassing the company's operations in vanadium, titanium, and chrome [3] - The Technologies segment is recognized as the world market leader in advanced metallurgy, providing engineering solutions for the aerospace engine sector and supporting the development of LIVA batteries and NewMOX SAS for the nuclear fuel market [3] Global Operations - AMG employs approximately 3,600 individuals and operates production facilities across multiple countries, including Germany, the United Kingdom, France, the United States, China, Mexico, Brazil, India, and Sri Lanka, with sales and customer service offices in Japan [4]

Core Viewpoint - Affiliated Managers Group, Inc. (AMG) is recognized as one of the top asset management stocks to consider for investment, with a recent price target increase by Bank of America reflecting positive market sentiment and performance [1][2]. Financial Performance - AMG reported a 22% year-over-year increase in annual economic earnings per share for the full year 2025, reaching $26.05 [3]. - The company’s fourth quarter and full year earnings results were disclosed on February 12, 2026, indicating strong financial performance [3]. Strategic Initiatives - AMG announced plans to expand its global private markets presence through strategic investments, including acquiring a minority stake in HighBrook Investors, which focuses on U.S. data centers and European logistics [3]. - The firm also increased its investment in Garda Capital Partners, a specialist in fixed-income relative-value strategies, aiming to strengthen partnerships with independent firms and capture alternative returns [3]. Analyst Ratings - Bank of America raised its price target for AMG from $443 to $479 while maintaining a Buy rating, reflecting a reassessment of EPS forecasts based on recent financial reports and market trends [2][6].

Core Insights - Affiliated Managers Group, Inc. (AMG) is a global asset management company that partners with investment management firms, providing strategic support and resources for growth [1][6] - AMG operates in a competitive landscape with peers such as BlackRock and T. Rowe Price, known for its diverse investment strategies and strong financial performance [1][6] Insider Trading - On March 9, 2026, Padiyar Kavita, AMG's General Counsel & Corporate Secretary, sold 2,200 shares at $278.24 each, retaining 42,672 shares [2] - Thomas Wojcik, AMG's Chief Operating Officer, sold 8,000 shares at an average price of $286.30, totaling approximately $2.29 million, reducing his ownership by 4.78% to 159,465 shares valued at around $45.65 million [2] Stock Performance - Following the insider transactions, AMG's stock opened at $282.01, reflecting a 1.3% decrease [3] - Over the past year, AMG's stock has fluctuated between a low of $139.22 and a high of $334.78 [3] Financial Ratios - AMG's market capitalization is $7.52 billion, with a price-to-earnings (P/E) ratio of 12.22, indicating reasonable valuation relative to earnings [4] - The P/E/G ratio of 0.47 suggests potential growth at a fair price, while a beta of 1.18 indicates slightly higher volatility compared to the market [4] - The company's debt-to-equity ratio is 0.64, showing a moderate level of financial leverage, and the debt-to-equity ratio of 0.83 indicates a balanced approach to debt financing [3][5] Cash Flow and Returns - AMG's enterprise value to operating cash flow ratio of 10.19 highlights cash flow efficiency [5] - With an earnings yield of 9.19%, the company offers a solid return on investment relative to its share price [5]

Core Insights - Affiliated Managers (AMG) is shifting focus towards private markets and liquid alternatives, leading to significant client inflows that counterbalance weaknesses in traditional asset categories [1][5] - The company has made strategic investments and partnerships to enhance its presence in the private markets, including a recent partnership with Brown Brothers Harriman [2][4] - As of December 31, 2025, alternatives represented nearly 46% of total AUM and contributed approximately 55% of AMG's earnings, with a target to increase this to over 66% in the coming years [3][9] Investment Strategy - AMG's strategy includes investing in high-quality affiliates in growth sectors while accelerating product innovation and expanding distribution [5] - The company has sufficient liquidity to fund its expansion plans, bolstered by divestitures that have increased its investment capacity [4] Financial Performance - AMG achieved $28.7 billion in net client cash inflows in 2025, marking the highest level since 2013, following a period of outflows [5][9] - The company's shares have increased by 87.4% over the past six months, contrasting with a 7.6% decline in the industry [8] Competitive Landscape - AMG's peers, such as BlackRock and Invesco, are also pursuing growth through acquisitions and partnerships, indicating a competitive environment in the asset management sector [6][7]

Company Overview - Affiliated Managers Group (AMG) reported trailing twelve-month revenue of $2.3 billion and net income of $716.7 million [4] - The company has a dividend yield of 0.01% and a share price of $301.55 as of February 5, 2026 [4] - AMG's forward price-to-earnings ratio is 8.48, and its enterprise value to EBITDA is 8.75 [6] Investment Activity - Aerodigm Wealth, LLC initiated a new position in AMG by acquiring 88,749 shares valued at approximately $25.58 million [1][2] - This new position represents 9% of Aerodigm Wealth's 13F assets under management [6] - AMG is now the second-largest holding in Aerodigm's portfolio, following ITOT, a total US stock market ETF [9] Business Model - AMG operates as a global asset management company, partnering with independent investment firms to provide a diverse range of investment strategies [8] - The company generates revenue primarily from management and advisory fees based on assets under management, utilizing a partnership-driven model [7] - AMG serves a wide array of clients, including institutional clients, mutual fund investors, high net worth individuals, foundations, endowments, and retirement plans [7]

Core Viewpoint - AMG announces the retirement of Karen L. Alvingham from its Board of Directors and the appointment of G. Staley Cates, effective April 1, 2026, highlighting a transition in leadership and continued commitment to long-term value creation [2][4]. Group 1: Board Changes - G. Staley Cates will join AMG's Board of Directors on April 1, 2026, bringing extensive experience from his tenure at Southeastern Asset Management [2][3]. - Karen L. Alvingham, who has served on the Board since January 2018, will retire on the same date, with appreciation expressed for her contributions during a significant growth period for AMG [2][4]. Group 2: Leadership and Strategy - Jay C. Horgen has been re-appointed as President, effective April 1, 2026, and will continue in his role as Chief Executive Officer, indicating stability in leadership [4]. - AMG's strategy focuses on generating long-term value by investing in high-quality independent partner-owned firms, with a reported aggregate assets under management of approximately $813 billion as of December 31, 2025 [5].

Core Insights - AMG Critical Materials N.V. has acquired AURA Technologie GmbH for €10 million, with 34% of the payment in cash and 66% in AMG shares, marking a strategic expansion into high-purity molybdenum [1][2] - The acquisition enhances AMG's capabilities in circular critical materials processing and supports the commercialization of its proprietary molybdenum refining technology [2][4] Acquisition Details - AURA specializes in processing spent hydrodesulfurization (HDS) catalysts, which are essential for producing high-purity molybdenum [2][5] - AMG plans to invest approximately $40 million to expand AURA's facility and integrate its technology for producing high-purity molybdenum suitable for refinery catalysts [3][4] Market Context - Molybdenum is crucial for HDS catalysts used in refineries to remove sulfur from fuels, contributing to clean fuel production [4] - There is a growing global demand for secure, Western sources of critical materials as supply chain resilience becomes a priority [4] Operational Synergies - The combination of AURA's operational platform and AMG's refining capabilities aims to create a vertically integrated circular value chain, transforming spent catalysts into high-value molybdenum products [5][6] - This acquisition expands AMG's portfolio of recycling-based critical materials businesses, reinforcing its strategy of utilizing proprietary technology with circular feedstocks [6] Governance and Compliance - The acquisition process involved comprehensive due diligence over six months, supported by independent third-party advisors, ensuring compliance and strategic rationale [7] - AMG's Supervisory Board approved the transaction, confirming the arms-length diligence and execution procedures [7] Leadership Commitment - AMG's CEO, Dr. Schimmelbusch, accepted shares as a majority part of the payment, indicating his confidence in the strategic logic of the acquisition [8]

Core Insights - AMG Critical Materials N.V. reported a full year adjusted EBITDA of $235 million for 2025, a 40% increase from $168 million in 2024, primarily driven by the Antimony and Engineering businesses [1][12] - The company ended 2025 with a strong balance sheet, showcasing total liquidity of $484 million as of December 31, 2025 [1][37] Financial Performance - Revenue for FY 2025 was $1.708 billion, a 19% increase from $1.440 billion in FY 2024 [11] - Gross profit for FY 2025 was $308 million, up 35% from $228 million in FY 2024 [12] - Adjusted gross profit for FY 2025 was $337 million, a 31% increase compared to $257 million in FY 2024 [12] - The company recorded a net loss of $18.6 million for FY 2025, an improvement from a loss of $33.4 million in FY 2024 [13][48] Segment Performance - AMG Lithium's revenue increased by 16% in Q4 2025 compared to Q4 2024, driven by higher lithium and tantalum market prices [16] - AMG Vanadium's revenue for Q4 2025 was $156 million, an 8% increase from Q4 2024, attributed to increased volumes of chrome metal and titanium alloys [21] - AMG Technologies saw a 40% increase in revenue for Q4 2025, reaching $229 million, largely due to higher antimony sales prices and strong sales in Engineering [24] Strategic Initiatives - The company is expanding its footprint in US critical materials with a new high-purity chrome metal facility expected to come online in H1 2026 [3] - AMG plans to enhance its critical materials recycling franchise through several projects, including a circular high-purity molybdenum processing facility by 2029 and a lithium hydroxide conversion plant in Germany [3] - Phase I of the "Supercenter" project in Saudi Arabia is under construction, with commissioning targeted for H2 2028 [3] Outlook - For 2026, AMG anticipates adjusted EBITDA in the range of $210 to $240 million, with expectations of higher pricing and volume increases in vanadium and lithium businesses [4][42] - The company expects the first quarter of 2026 to be the trough of its earnings cycle, with improvements anticipated in subsequent quarters [4][42]

Company Overview - AMG Critical Materials N.V. focuses on providing critical materials and related process technologies aimed at advancing a less carbon-intensive world, particularly in energy storage materials like lithium, vanadium, and tantalum [3][4] - The company operates globally with approximately 3,600 employees and has production facilities in multiple countries including Germany, the United Kingdom, France, the United States, China, Mexico, Brazil, India, and Sri Lanka [5] Financial Results Announcement - AMG will release its fourth quarter and full year 2025 financial results on February 25, 2026, at approximately 18:00 CET [1] - A conference call to discuss these financial results is scheduled for February 26, 2026, at 15:00 CET [1] Business Segments - AMG's Lithium segment aims to reduce the CO2 footprint across the lithium value chain [4] - The Vanadium segment is a market leader in recycling vanadium from oil refining residues and encompasses the company's vanadium, titanium, and chrome businesses [4] - The Technologies segment is recognized as a leader in advanced metallurgy, providing engineering solutions for the aerospace engine sector and includes operations related to LIVA batteries and nuclear fuel [4]