Financial Results - Plato Gold Corp. reported financial results for the nine months and three months ended September 30, 2025, showing income of $1,389 million for nine months and $352 million for three months [1] - The company experienced a net loss of $131,176 million for the nine months and $35,353 million for the three months [1] - Comprehensive loss matched the net loss figures, with comprehensive losses of $131,176 million for nine months and $35,353 million for three months [1] - Loss per common share was reported at $(0.01) for the nine months [1] - The weighted average number of common shares outstanding was 230,665,717 for the nine months [1] Company Overview - Plato Gold Corp. is a Canadian exploration company listed on the TSX Venture Exchange, OTC Markets, and Frankfurt Exchange, with projects located in Timmins, Ontario, and Santa Cruz, Argentina [3] - The Timmins project includes four properties: Guibord, Harker, Holloway, and Marriott, focusing on gold exploration [3] - In Argentina, the company holds a 95% interest in Winnipeg Minerals S.A., which has mineral rights totaling 9,672 hectares with potential for gold and silver [4] - The Good Hope Niobium Project covers approximately 6,035 hectares near Marathon, Ontario, targeting niobium [4] - The Pic River Platinum Group Metals Project consists of 2,352 hectares near Marathon, Ontario, with claims contiguous to Generation Mining's Marathon PGM project [5]

分组1 - Peapack-Gladstone (PGC) reported quarterly earnings of $0.54 per share, missing the Zacks Consensus Estimate of $0.59 per share, and showing an increase from $0.43 per share a year ago, resulting in an earnings surprise of -8.47% [1] - The company posted revenues of $70.69 million for the quarter ended September 2025, missing the Zacks Consensus Estimate by 2.09%, but up from $56.62 million year-over-year [2] - Peapack-Gladstone shares have declined approximately 20.5% since the beginning of the year, contrasting with the S&P 500's gain of 14.3% [3] 分组2 - The current consensus EPS estimate for the upcoming quarter is $0.65 on revenues of $74.13 million, and for the current fiscal year, it is $2.10 on revenues of $279.35 million [7] - The Zacks Industry Rank for Banks - Northeast is in the top 23% of over 250 Zacks industries, indicating that the industry outlook can significantly impact stock performance [8]

Financial Performance - Net income for the three months ended September 30, 2025, was $9,631 thousand, a 27% increase compared to $7,587 thousand in the prior year[14]. - Basic earnings per share increased to $0.55 for the three months ended September 30, 2025, compared to $0.43 for the same period in 2024, reflecting a growth of 27.9%[14]. - Total income for Q3 2025 reached $70,694,000, up from $56,619,000 in Q3 2024, marking a 24.9% year-over-year growth[155]. - Net income for Q3 2025 was $9,631,000, compared to $7,587,000 in Q3 2024, reflecting a 27.0% increase[155]. - For the nine months ended September 30, 2025, total income was $204,794,000, a 23.1% increase from $166,292,000 in the same period of 2024[156]. Asset Growth - Total assets increased to $7,439,642 thousand as of September 30, 2025, up from $7,011,238 thousand at December 31, 2024, representing a growth of 6.1%[11]. - Total deposits grew to $6,562,162 thousand, an increase of 7.2% from $6,129,022 thousand at the end of 2024[11]. - Cash and cash equivalents at the end of the period were $347,186,000 in 2025, down from $492,658,000 in 2024, a decrease of 30%[23]. Loan Performance - Net loans rose to $5,950,325 thousand, a 9.4% increase from $5,439,334 thousand in the previous year[11]. - As of September 30, 2025, total loans outstanding reached $6,018.97 million, an increase from $5,512.33 million as of December 31, 2024, representing a growth of 9.2%[110]. - The multifamily mortgage segment accounted for 29.85% of total loans as of September 30, 2025, slightly down from 32.65% in the previous year[110]. Credit Losses - Provision for credit losses for the three months ended September 30, 2025, was $4,790 thousand, significantly higher than $1,224 thousand in the same period last year[14]. - Provision for credit losses increased significantly to $15,847,000 in 2025 from $5,762,000 in 2024, indicating a rise of 175%[23]. - The allowance for credit losses (ACL) was $68.6 million as of September 30, 2025, down from $73.0 million at December 31, 2024, primarily due to charge-offs of $20.4 million during the nine months ended September 30, 2025[132]. Operating Expenses - Operating expenses for the three months ended September 30, 2025, totaled $52,297 thousand, an increase of 17.5% from $44,649 thousand in 2024[14]. - Total operating expenses for Q3 2025 were $57,087,000, up from $45,873,000 in Q3 2024, representing a 24.5% increase[155]. - The company’s total operating expenses for the nine months ended September 30, 2025, were $169,477,000, compared to $133,578,000 in the same period of 2024, an increase of 26.9%[156]. Wealth Management - Wealth management fee income for the nine months ended September 30, 2025, was $47,176 thousand, up from $45,976 thousand in the previous year[14]. - The Wealth Management Division generates revenue primarily from wealth management fee income and assets under management (AUM), with fees collected on a tiered schedule based on market value[34]. Shareholder Returns - Cash dividends declared on common stock for the three months ended September 30, 2025, were $877 thousand, with a dividend of $0.05 per share[18]. - The company repurchased 100,000 shares during the three months ended September 30, 2025, at a cost of $2,666 thousand[18]. - The total number of common shares outstanding as of September 30, 2025, was 17,548,471, a decrease from 17,577,747 shares as of September 30, 2024[18]. Securities and Investments - The total fair value of securities available for sale as of September 30, 2025, was $756,578,000, compared to $784,544,000 as of December 31, 2024, showing a decrease of 3.5%[104]. - The company reported unrealized losses on total securities available for sale amounting to $75.238 million as of September 30, 2025, compared to $100.521 million as of December 31, 2024, indicating a reduction in losses[107]. - The total securities, including available for sale and held to maturity, were valued at $536.94 million with unrealized losses of $84.395 million as of September 30, 2025[107]. Risk Management - The Company employs the Current Expected Credit Loss (CECL) methodology for determining the allowance for credit losses, requiring immediate recognition of estimated credit losses[47]. - The Company has engaged an independent loan review firm to validate risk ratings and ensure compliance with policies, reviewing loans greater than $1,000,000 quarterly[113]. - Current period gross charge-offs for commercial and industrial loans amount to $11,086,000, indicating potential credit quality concerns[120]. Other Income - The company reported a total of $20,121 thousand in other income for the three months ended September 30, 2025, compared to $18,938 thousand in the same period of 2024, reflecting a growth of 6.3%[14]. - The company reported a total of $8,082,000 in other income for the nine months ended September 30, 2025, compared to $8,252,000 for the same period in 2024, reflecting a decrease of 2.1%[177].

Executive Summary & Highlights [Third Quarter 2025 Financial Performance Overview](index=1&type=section&id=1.1%20Third%20Quarter%202025%20Financial%20Performance%20Overview) Peapack-Gladstone Financial Corporation reported strong Q3 2025 financial results, with net income and diluted EPS increasing significantly quarter-over-quarter. The company experienced substantial deposit and loan growth, alongside an improved net interest margin, driven by strategic expansion and client relationship building | Metric | Q3 2025 ($ million) | Q2 2025 ($ million) | Change (QoQ) ($ million) | % Change (QoQ) | | :-------------------- | :------- | :------- | :----------- | :------------- | | Net Income | $9.6 million | $7.9 million | $1.7 million | 21% | | Diluted EPS ($) | $0.54 | $0.45 | $0.09 | 20% | - Deposits grew **$433 million** (**7%**) to **$6.6 billion** through the first nine months of 2025. Core relationship deposits increased **$708 million**, with noninterest-bearing deposits up **$211 million** (**19%**)[4](index=4&type=chunk) - Loan growth of **$506 million** was funded by deposit growth, achieving an incremental spread of over **400 basis points**[4](index=4&type=chunk) | Metric | Q3 2025 ($ million) | Q2 2025 ($ million) | Q3 2024 ($ million) | | :---------------- | :------- | :------- | :------- | | Net Interest Income | $50.6 million | $48.3 million | | | Net Interest Margin (%) | 2.81% | 2.77% | 2.34% | - Nonperforming assets declined by **$31 million** in the quarter, reflecting aggressive management of problem credits[7](index=7&type=chunk) [Strategic Initiatives and Business Growth](index=1&type=section&id=1.2%20Strategic%20Initiatives%20and%20Business%20Growth) The Company continues its strategic expansion into Metro New York, successfully onboarding new client relationships and growing core deposits and loans. This expansion, coupled with investments in talent and infrastructure, has led to consistent positive operating leverage and improved core earnings - Over the past two years, newly hired teams have onboarded more than **850** new client relationships, adding over **$1.75 billion** in core relationship deposits and more than **$900 million** in new loans[6](index=6&type=chunk) - Delivered a fourth consecutive quarter of positive operating leverage and grew core earnings by **54%** over the last twelve months[6](index=6&type=chunk) - Expanded equipment finance group in Long Island and hired three New York-based wealth advisors, reflecting the transformation into Peapack Private Bank & Trust[6](index=6&type=chunk) [Key Financial and Operational Highlights](index=1&type=section&id=1.3%20Key%20Financial%20and%20Operational%20Highlights) The company reported specific achievements across its wealth management, commercial banking, and capital management divisions, demonstrating robust growth in AUM/AUA, loans, and deposits, while maintaining strong capital ratios and improving asset quality [Wealth Management Highlights](index=1&type=section&id=1.3.1%20Wealth%20Management%20Highlights) Wealth Management Division experienced significant growth in Assets Under Management/Administration (AUM/AUA) and strong new business inflows, contributing a substantial portion to total revenue - AUM/AUA grew by **$1.0 billion** to **$12.9 billion** at September 30, 2025, compared to **$11.9 billion** at December 31, 2024[7](index=7&type=chunk) | Metric | Q3 2025 ($ million) | Q2 2025 ($ million) | Q3 2024 ($ million) | | :-------------------- | :------- | :------- | :------- | | Wealth Management Fee Income | $15.8 million | $15.9 million | $15.2 million | - New business inflows for Q3 2025 totaled **$214 million**[7](index=7&type=chunk) - Wealth Management fee income was **$15.8 million** in Q3 2025, amounting to **22%** of total revenue[7](index=7&type=chunk) [Commercial Banking and Balance Sheet Highlights](index=2&type=section&id=1.3.2%20Commercial%20Banking%20and%20Balance%20Sheet%20Highlights) Commercial banking saw substantial loan and deposit growth, with C&I lending being a primary driver. The company also improved its net interest margin - Total loans increased **$506 million**, or **9%**, to **$6.0 billion** at September 30, 2025, from **$5.5 billion** at December 31, 2024, primarily driven by commercial and industrial loan originations[11](index=11&type=chunk) - Commercial and industrial lending (C&I) accounted for **69%** of new business originations during Q3 and represented **44%** of the total loan portfolio[11](index=11&type=chunk) - Total deposits increased by **$433 million** to **$6.6 billion** at September 30, 2025, from **$6.1 billion** at December 31, 2024. Noninterest-bearing demand deposits grew **$86 million** in Q3[11](index=11&type=chunk) - The Net Interest Margin (NIM) expanded to **2.81%** for Q3 2025, an increase of **4 basis points** compared to Q2 2025[11](index=11&type=chunk) [Capital Management Highlights](index=2&type=section&id=1.3.3%20Capital%20Management%20Highlights) The company demonstrated strong capital management, with increases in tangible book value per share and regulatory capital ratios well above well-capitalized standards | Metric | Sep 30, 2025 ($) | Dec 31, 2024 ($) | % Change | | :-------------------------- | :----------- | :----------- | :------- | | Tangible book value per share ($) | $34.10 | $31.89 | 7% | | Book value per share ($) | $36.62 | $34.45 | 6% | | Regulatory Ratio (Sep 30, 2025) | Bank (%) | Company (%) | | :------------------------------ | :-------- | :-------- | | Tier 1 Leverage Ratio (%) | 9.89% | 8.86% | | Common Equity Tier 1 Ratio (%) | 11.70% | 10.47% | - All regulatory capital ratios remain significantly above well capitalized standards, benefiting from net income generation[11](index=11&type=chunk) Detailed Financial Performance Analysis [Summary Income Statement Details](index=3&type=section&id=2.1%20Summary%20Income%20Statement%20Details) The company reported significant revenue and net income growth across both quarterly and nine-month periods compared to the prior year, driven primarily by increased net interest income and effective expense management, despite a higher provision for credit losses [Nine Months Ended September 30, 2025 vs. 2024](index=3&type=section&id=2.1.1%20Nine%20Months%20Ended%20September%2030%2C%202025%20vs.%202024) For the first nine months of 2025, total revenue increased by 23%, primarily due to a 35% rise in net interest income. Net income also grew by 6%, despite a substantial increase in the provision for credit losses | Metric | 9 Months Ended Sep 30, 2025 ($ million) | 9 Months Ended Sep 30, 2024 ($ million) | Increase/(Decrease) ($ million) | % Change | | :--------------------------------- | :--------------------------- | :--------------------------- | :-------------------- | :------- | | Net interest income | $144.37 million | $107.10 million | $37.27 million | 35% | | Total Revenue | $204.80 million | $166.29 million | $38.51 million | 23% | | Operating expenses | $153.63 million | $127.82 million | $25.81 million | 20% | | Pretax income before provision | $51.17 million | $38.47 million | $12.70 million | 33% | | Provision for credit losses | $15.85 million | $5.76 million | $10.09 million | 175% | | Net income | $25.17 million | $23.75 million | $1.42 million | 6% | | Diluted EPS ($) | $1.42 | $1.34 | $0.08 | 6% | | Return on average assets (%) | 0.47% | 0.49% | (0.02)% | | | Return on average equity (%) | 5.41% | 5.42% | (0.01)% | | [Three Months Ended September 30, 2025 vs. September 30, 2024](index=3&type=section&id=2.1.2%20Three%20Months%20Ended%20September%2030%2C%202025%20vs.%20September%2030%2C%202024) For Q3 2025, total revenue increased by 25% year-over-year, driven by a 34% increase in net interest income. Net income saw a 27% rise, and diluted EPS increased by 26%, reflecting improved profitability and asset utilization | Metric | 3 Months Ended Sep 30, 2025 ($ million) | 3 Months Ended Sep 30, 2024 ($ million) | Increase/(Decrease) ($ million) | % Change | | :--------------------------------- | :--------------------------- | :--------------------------- | :-------------------- | :------- | | Net interest income | $50.57 million | $37.68 million | $12.89 million | 34% | | Total Revenue | $70.69 million | $56.62 million | $14.07 million | 25% | | Operating expenses | $52.30 million | $44.65 million | $7.65 million | 17% | | Pretax income before provision | $18.39 million | $11.97 million | $6.42 million | 54% | | Provision for credit losses | $4.79 million | $1.22 million | $3.57 million | 293% | | Net income | $9.63 million | $7.59 million | $2.04 million | 27% | | Diluted EPS ($) | $0.54 | $0.43 | $0.11 | 26% | | Return on average assets annualized (%) | 0.53% | 0.46% | 0.07% | | | Return on average equity annualized (%) | 6.12% | 5.12% | 1.00% | | [Three Months Ended September 30, 2025 vs. June 30, 2025 (Linked Quarter)](index=4&type=section&id=2.1.3%20Three%20Months%20Ended%20September%2030%2C%202025%20vs.%20June%2030%2C%202025%20(Linked%20Quarter)) On a linked-quarter basis, Q3 2025 saw a 21% increase in net income and a 20% increase in diluted EPS, driven by a 5% rise in net interest income and a 27% decrease in the provision for credit losses | Metric | 3 Months Ended Sep 30, 2025 ($ million) | 3 Months Ended Jun 30, 2025 ($ million) | Increase/(Decrease) ($ million) | % Change | | :--------------------------------- | :--------------------------- | :--------------------------- | :-------------------- | :------- | | Net interest income | $50.57 million | $48.29 million | $2.28 million | 5% | | Total Revenue | $70.69 million | $69.74 million | $0.95 million | 1% | | Operating expenses | $52.30 million | $51.89 million | $0.41 million | 1% | | Pretax income before provision | $18.39 million | $17.85 million | $0.54 million | 3% | | Provision for credit losses | $4.79 million | $6.59 million | ($1.80) million | (27)% | | Net income | $9.63 million | $7.94 million | $1.69 million | 21% | | Diluted EPS ($) | $0.54 | $0.45 | $0.09 | 20% | | Return on average assets annualized (%) | 0.53% | 0.45% | 0.08% | | | Return on average equity annualized (%) | 6.12% | 5.11% | 1.01% | | [Supplemental Quarterly Details](index=4&type=section&id=2.2%20Supplemental%20Quarterly%20Details) This section provides further details on the performance of key business segments and financial metrics, including wealth management, loan growth, net interest income, liquidity, noninterest income, operating expenses, asset quality, and capital [Wealth Management Performance](index=4&type=section&id=2.2.1%20Wealth%20Management%20Performance) The Wealth Management Division continued its growth trajectory with increased AUM/AUA and strong client inflows, despite a slight quarter-over-quarter dip in fee income - AUM/AUA grew by **$1.0 billion** to **$12.9 billion** at September 30, 2025, compared to **$11.9 billion** at December 31, 2024[19](index=19&type=chunk) | Metric | Q3 2025 ($ million) | Q2 2025 ($ million) | Q3 2024 ($ million) | | :-------------------- | :------- | :------- | :------- | | Wealth Management Fee Income | $15.8 million | $15.9 million | $15.2 million | - Q3 2025 saw strong client inflows of **$214 million**, driven by new accounts and client additions[20](index=20&type=chunk) [Loans and Commercial Banking Growth](index=4&type=section&id=2.2.2%20Loans%20and%20Commercial%20Banking%20Growth) Total loans grew significantly, primarily driven by commercial and industrial (C&I) loan originations, reflecting the strength of the middle-market commercial banking franchise - Total loans increased **$506 million**, or **9%**, to **$6.0 billion** at September 30, 2025, compared to **$5.5 billion** at December 31, 2024, primarily driven by commercial and industrial loan originations[21](index=21&type=chunk) - Total C&I loans and leases were **$2.7 billion**, or **44%** of the total loan portfolio, at September 30, 2025[21](index=21&type=chunk) - Loans originated during the current year carried an average spread of more than **425 basis points** above the current cost of funds[22](index=22&type=chunk) [Net Interest Income (NII) and Net Interest Margin (NIM)](index=5&type=section&id=2.2.3%20Net%20Interest%20Income%20(NII)%20and%20Net%20Interest%20Margin%20(NIM)) Both Net Interest Income and Net Interest Margin showed strong improvements quarter-over-quarter and year-over-year, attributed to the private banking strategy and New York City expansion leading to lower-cost core deposit relationships | Metric | Q3 2025 ($ million) | Q2 2025 ($ million) | Q3 2024 ($ million) | | :---------------- | :------- | :------- | :------- | | NII | $50.6 million | $48.3 million | $37.7 million | | NIM (%) | 2.81% | 2.77% | 2.34% | - NII increased **$2.3 million** (QoQ) and **$12.9 million** (YoY). NIM increased **4 basis points** (QoQ) and **47 basis points** (YoY)[23](index=23&type=chunk) - Improvement driven by the single point of contact private banking strategy and New York City expansion, delivering lower-cost core deposit relationships[23](index=23&type=chunk) [Funding, Liquidity, and Interest Rate Risk Management](index=5&type=section&id=2.2.4%20Funding%20%26%20Liquidity%20%26%20Interest%20Rate%20Risk%20Management) The company strengthened its balance sheet liquidity through deposit growth, reducing reliance on external borrowings. It maintains substantial on- and off-balance sheet liquidity resources, significantly exceeding uninsured/uncollateralized deposits - Total deposits increased **$433 million** to **$6.6 billion** at September 30, 2025, from **$6.1 billion** at December 31, 2024[24](index=24&type=chunk) - No outstanding overnight borrowings at September 30, 2025[24](index=24&type=chunk) - Total on and off-balance sheet liquidity totaled **$4.9 billion** at September 30, 2025, which amounts to **267%** of total uninsured/uncollateralized deposits[25](index=25&type=chunk) [Noninterest Income (Capital Markets & Other)](index=5&type=section&id=2.2.5%20Noninterest%20Income%20(Capital%20Markets%20%26%20Other)) Noninterest income from Capital Markets activities significantly increased year-over-year, boosted by a corporate advisory transaction. Other noninterest income remained stable year-over-year but decreased quarter-over-quarter due to a one-time gain in the prior quarter | Metric | Q3 2025 ($ million) | Q2 2025 ($ million) | Q3 2024 ($ million) | | :-------------------------- | :------- | :------- | :------- | | Capital Markets Activity Income | $0.901 million | $0.799 million | $0.435 million | - Q3 2025 Capital Markets income benefited from one corporate advisory transaction for **$639,000**[26](index=26&type=chunk)[27](index=27&type=chunk) | Metric | Q3 2025 ($ million) | Q2 2025 ($ million) | Q3 2024 ($ million) | | :-------------------- | :------- | :------- | :------- | | Other Noninterest Income | $3.4 million | $4.7 million | $3.4 million | - Q2 2025 other income included an **$875,000** gain for the termination of a branch lease agreement[28](index=28&type=chunk) [Operating Expenses and Income Taxes](index=5&type=section&id=2.2.6%20Operating%20Expenses%20and%20Income%20Taxes) Operating expenses increased due to strategic expansion into Metro New York and Long Island, increased health insurance costs, and annual merit increases. The effective tax rate remained stable | Metric | Q3 2025 ($ million) | Q2 2025 ($ million) | Q3 2024 ($ million) | | :------------------ | :------- | :------- | :------- | | Total Operating Expenses | $52.3 million | $51.9 million | $44.6 million | - The increase in operating expenses was primarily driven by the Company's ongoing expansion into New York City and Long Island, increased health insurance costs, and annual merit increases[29](index=29&type=chunk) | Metric | Q3 2025 (%) | Q2 2025 (%) | Q3 2024 (%) | | :---------------- | :------- | :------- | :------- | | Effective Tax Rate (%) | 29.2% | 29.5% | 29.4% | [Asset Quality and Provision for Credit Losses](index=6&type=section&id=2.2.7%20Asset%20Quality%20and%20Provision%20for%20Credit%20Losses) Nonperforming assets significantly decreased due to the resolution of problem credits, though loans past due 30-89 days increased. The provision for credit losses was driven by specific reserves and loan growth, while the Allowance for Credit Losses (ACL) decreased due to charge-offs related to previously provisioned problem loans | Metric | Sep 30, 2025 ($ million) | Jun 30, 2025 ($ million) | Change ($ million) | | :-------------------------- | :----------- | :----------- | :----- | | Nonperforming assets | $84.1 million | $115.0 million | ($30.9 million) | | % of total assets | 1.13% | 1.60% | | - Decrease in nonperforming assets driven by the resolution of a **$20.1 million** equipment financing relationship and three multifamily loans totaling **$11.8 million**[32](index=32&type=chunk) | Metric | Q3 2025 ($ million) | Q2 2025 ($ million) | Q3 2024 ($ million) | | :-------------------------- | :------- | :------- | :------- | | Provision for credit losses | $4.8 million | $6.6 million | $1.2 million | - The provision for credit losses in Q3 2025 was driven by an increase in specific reserves totaling **$4.3 million** related to two multifamily loans, in addition to an increase driven by loan growth of **$203 million**[33](index=33&type=chunk) | Metric | Sep 30, 2025 ($ million) | Jun 30, 2025 ($ million) | Sep 30, 2024 ($ million) | | :-------------------- | :----------- | :----------- | :----------- | | ACL | $68.6 million | $81.8 million | $71.3 million | | ACL (% of total loans) (%) | 1.14% | 1.40% | 1.34% | - The decrease in ACL was mainly driven by charge-offs of **$18.0 million** during the period, related to one equipment financing relationship (**$11.3 million**) and three multifamily loans (**$6.7 million**)[34](index=34&type=chunk) [Capital Position](index=6&type=section&id=2.2.8%20Capital%20Position) The company's capital position strengthened due to net income generation and positive movements in accumulated other comprehensive income, partially offset by share repurchases. Regulatory capital ratios remain strong and well above required standards - Capital position increased due to net income of **$9.6 million** and positive movement in accumulated other comprehensive income of **$5.1 million**[35](index=35&type=chunk) - Partially offset by the repurchase of **100,000 shares** at a cost of **$2.7 million**[35](index=35&type=chunk) | Metric | Sep 30, 2025 ($) | Dec 31, 2024 ($) | % Change | | :-------------------------- | :----------- | :----------- | :------- | | Tangible book value per share ($) | $34.10 | $31.89 | 7% | | Book value per share ($) | $36.62 | $34.45 | 6% | - Regulatory capital ratios remain strong and well above regulatory well capitalized standards[36](index=36&type=chunk) - Declared a cash dividend of **$0.05 per share** payable on November 28, 2025[37](index=37&type=chunk) Company Information & Forward-Looking Statements [About Peapack-Gladstone Financial Corporation](index=7&type=section&id=3.1%20About%20Peapack-Gladstone%20Financial%20Corporation) Peapack-Gladstone Financial Corporation is a New Jersey bank holding company with $7.4 billion in total assets and $12.9 billion in AUM/AUA as of September 30, 2025. Its subsidiary, Peapack Private Bank & Trust, offers client-centric commercial banking and comprehensive wealth management solutions, focusing on high-quality products and customized services for various client segments in the Metro New York area - Total assets of **$7.4 billion** and assets under management and/or administration of **$12.9 billion** as of September 30, 2025[38](index=38&type=chunk) - Peapack Private Bank & Trust, founded in 1921, is a commercial bank offering client-centric banking with customized wealth management, investment banking, commercial, and retail solutions[38](index=38&type=chunk) - The wealth management division provides comprehensive financial, tax, fiduciary, and investment advice to individuals, families, privately held businesses, family offices, and not-for-profit organizations[38](index=38&type=chunk) [Forward-Looking Statements](index=7&type=section&id=3.2%20Forward-Looking%20Statements) The document contains forward-looking statements regarding future performance, strategies, and market conditions. These statements are subject to various risks and uncertainties, including economic downturns, interest rate fluctuations, credit losses, regulatory changes, and operational challenges, which could cause actual results to differ materially - Statements are not historical facts and include expressions about management's confidence and strategies, and expectations about new and existing programs, products, investments, relationships, opportunities, and market conditions[39](index=39&type=chunk) - Factors that may cause results to differ materially include the ability to grow the business and implement strategic plans, impact of higher operating expenses, unexpected economic declines, declines in net interest margin, higher than expected credit losses, inflation and interest rate changes, and legislative and regulatory actions[39](index=39&type=chunk)[43](index=43&type=chunk) - The Company undertakes no duty to update any forward-looking statement and cannot guarantee future results, levels of activity, performance, or achievements[40](index=40&type=chunk)[41](index=41&type=chunk) Consolidated Financial Data Tables [Selected Consolidated Income Statement Data (Quarterly & Nine Months)](index=9&type=section&id=4.1%20Selected%20Consolidated%20Income%20Statement%20Data%20(Quarterly%20%26%20Nine%20Months)) This section presents detailed income statement data for various quarterly and nine-month periods, showing trends in interest income and expense, noninterest income, operating expenses, and net income, along with key performance ratios - Refer to tables in chunks 45 and 48 for detailed income statement data and performance ratios across different periods[45](index=45&type=chunk)[48](index=48&type=chunk) [Consolidated Statements of Condition (Balance Sheet)](index=11&type=section&id=4.2%20Consolidated%20Statements%20of%20Condition%20(Balance%20Sheet)) This table provides a detailed breakdown of the company's assets, liabilities, and shareholders' equity at various quarter-end dates, illustrating changes in cash, securities, loans, deposits, and capital structure - Refer to table in chunk 51 for detailed consolidated statements of condition[51](index=51&type=chunk) [Selected Balance Sheet Data (Asset Quality & Capital Adequacy)](index=12&type=section&id=4.3%20Selected%20Balance%20Sheet%20Data%20(Asset%20Quality%20%26%20Capital%20Adequacy)) This section presents key asset quality metrics, including nonperforming assets, past due loans, and the allowance for credit losses, alongside capital adequacy ratios for both the holding company and the bank, demonstrating compliance with regulatory standards - Refer to tables in chunks 53, 58, and 61 for detailed asset quality and capital adequacy data[53](index=53&type=chunk)[58](index=58&type=chunk)[61](index=61&type=chunk) [Loans Closed](index=14&type=section&id=4.4%20Loans%20Closed) This table details the volume of loans closed across different categories (residential, commercial, installment, home equity) for various quarterly and nine-month periods, highlighting the company's lending activity - Refer to table in chunk 63 for detailed loans closed data[63](index=63&type=chunk) [Average Balance Sheet (Interest-Earning Assets & Liabilities)](index=15&type=section&id=4.5%20Average%20Balance%20Sheet%20(Interest-Earning%20Assets%20%26%20Liabilities)) These tables provide average balances, income/expense, and annualized yields for interest-earning assets and liabilities, along with net interest income, net interest spread, and net interest margin, offering insights into the company's interest rate sensitivity and profitability - Refer to tables in chunks 67, 71, and 74 for detailed average balance sheet data[67](index=67&type=chunk)[71](index=71&type=chunk)[74](index=74&type=chunk) Non-GAAP Financial Measures Reconciliation [Tangible Book Value Per Share Reconciliation](index=18&type=section&id=5.1%20Tangible%20Book%20Value%20Per%20Share%20Reconciliation) This section defines and reconciles the non-GAAP measure of tangible book value per share and tangible equity to tangible assets, providing a clearer view of the company's equity excluding intangible assets, which is relevant for investors and regulatory assessment - Tangible equity and tangible assets are calculated by excluding intangible assets from shareholders' equity and total assets, respectively[78](index=78&type=chunk) - These non-GAAP measures provide information important to investors and are useful in understanding the financial position, results, and ratios, consistent with bank regulatory agencies[78](index=78&type=chunk)[80](index=80&type=chunk) - Refer to table in chunk 81 for reconciliation of tangible book value per share and tangible equity to tangible assets[81](index=81&type=chunk) [Return on Average Tangible Equity Reconciliation](index=19&type=section&id=5.2%20Return%20on%20Average%20Tangible%20Equity%20Reconciliation) This section provides the reconciliation for Return on Average Tangible Equity, a non-GAAP measure that adjusts for intangible assets to offer a more focused view of profitability relative to tangible equity - Refer to table in chunk 82 for reconciliation of return on average tangible equity[82](index=82&type=chunk) [Efficiency Ratio Reconciliation](index=18&type=section&id=5.3%20Efficiency%20Ratio%20Reconciliation) This section defines and reconciles the non-GAAP efficiency ratio, which measures expense control relative to recurring revenue by excluding certain non-recurring items, offering a clearer picture of core operational efficiency - The efficiency ratio is calculated by dividing total noninterest expenses (excluding other real estate owned provision) by net interest income and total noninterest income (excluding net gains/losses on loans held for sale at lower of cost or fair value and net gains on securities)[79](index=79&type=chunk) - This measure provides a reasonable assessment of core expenses relative to core revenue[79](index=79&type=chunk)[80](index=80&type=chunk) - Refer to tables in chunks 82 and 83 for reconciliation of the efficiency ratio[82](index=82&type=chunk)[83](index=83&type=chunk)

Core Viewpoint - Plato Gold Corp. has announced the results of its drilling program at the Lolita Project in Santa Cruz, Argentina, revealing non-economic gold and silver values but significant anomalous pathfinder elements [1][4][11]. Drilling Program Summary - Drilling commenced in May and concluded by mid-June, totaling 1,585 meters across 12 holes, with lengths ranging from 74 to 242 meters [2]. - The program was completed within the projected budget [2]. Sample Results - Results from 299 samples, including quality control samples, have been reviewed and passed by the Qualified Person [3]. - Maximum values recorded in drill core include 15 parts per billion of gold and 5.8 parts per million of silver, with arsenic at 1,059 ppm, antimony at 230 ppm, mercury at 15 ppm, and sulfur at 1.7 percent [4]. Geological Findings - Drill holes at Panza and Corazon intersected silica veinlets and hydrothermal breccias within a specific stratigraphic unit of competent, felsic volcanic rock, possibly an ignimbrite [4]. - Anomalous mineralization appears to be stratigraphically controlled rather than influenced by steep structures, with significant volumes of alteration and mineralization lacking precious metals [6][7]. Anomalous Element Values - Selected anomalous pathfinder element values include: - Panza LO-25-003: 25.35 m interval with 395 ppm arsenic and 0.69% sulfur [8] - Panza LO-25-009: 37.90 m interval with 308 ppm arsenic and 0.66% sulfur [8] - Corazon LO-25-011: 37.30 m interval with 166 ppm arsenic and 0.42% sulfur [8] - Corazon LO-25-012: 45.00 m interval with 237 ppm arsenic and 0.64% sulfur [8] Future Considerations - The geological occurrence of these mineralization zones is atypical for the Deseado Massif, and the significance of these findings will be further studied by the company [11].

Core Viewpoint - Plato Gold Corp. has announced the results of its drilling program at the Lolita Project in Santa Cruz, Argentina, revealing non-economic gold and silver values but significant anomalous pathfinder elements. Drilling Program Summary - Drilling commenced in May and was completed by mid-June, totaling 1,585 meters drilled across 12 holes, with lengths ranging from 74 to 242 meters [2] - The program was completed within the projected budget [2] Sample Results - Results from 299 samples, including quality control samples, have been reviewed and passed by the Qualified Person [3] - Maximum values recorded in drill core include 15 parts per billion of gold and 5.8 parts per million of silver, with arsenic at 1,059 ppm, antimony at 230 ppm, mercury at 15 ppm, and sulfur at 1.7 percent [4] Geological Findings - Drill holes at Panza and Corazon intersected silica veinlets and hydrothermal breccias within a specific stratigraphic unit of competent, felsic volcanic rock [4] - Anomalous mineralization appears to be stratigraphically controlled rather than by steep structures, with significant volumes of alteration and mineralization lacking precious metals [6][7] Anomalous Element Values - Selected anomalous pathfinder element values include: - Panza LO-25-003: 25.35m interval with 395 ppm arsenic and 0.69% sulfur [9] - Panza LO-25-009: 37.90m interval with 308 ppm arsenic and 0.66% sulfur [9] - Corazon LO-25-011: 37.30m interval with 166 ppm arsenic and 0.42% sulfur [9] - Corazon LO-25-012: 45.00m interval with 237 ppm arsenic and 0.64% sulfur [9] Future Considerations - The geological occurrence of mineralization zones with anomalous pathfinder elements is atypical for the Deseado Massif, and the significance of these findings will be further studied by the company [12]

Financial Data and Key Metrics Changes - The company reported a revenue of $3,600,000,000, an increase of 8.3% compared to the previous year [12][9] - Underlying EBITDA reached $95,200,000, up $2,800,000 or about 3% year-on-year [13][12] - Net profit after tax was $31,200,000, with a statutory result of $20,600,000 [9][10] - Free operating cash flow was negative at $11,000,000, significantly impacted by receivables from a group of pharmacies [19][20] Business Line Data and Key Metrics Changes - Revenue from Australia and New Zealand grew to $3,500,000,000, an increase of 8% [21] - Gross margin in Australia and New Zealand was $277,900,000, up 5% [21] - The Asian market saw revenue increase from $84,200,000 to $101,000,000, a growth of 20% [23] Market Data and Key Metrics Changes - Strong growth was noted in Thailand's aesthetics division, contributing to the overall revenue increase in Asia [24] - The imaging business performed solidly despite some market headwinds [24] - Modest growth was observed in the Philippines due to declining contracts [24] Company Strategy and Development Direction - The company aims to continue its growth strategy in Asia following the merger with Paragon Care Group [2][4] - Focus on operational efficiencies and integration of businesses onto a single platform [26][29] - Emphasis on organic growth through investments in sales teams and new business opportunities in dental, robotics, and aesthetics [28][29] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in achieving $12,000,000 in synergies for FY '26, building on the $5,000,000 achieved in FY '25 [26][30] - The competitive landscape in retail pharmacy is evolving, with expectations for continued growth despite challenges [34][35] - Future profitability is expected to improve as synergies are realized and new opportunities are explored [30] Other Important Information - The company completed a refinancing with Scott Pak, increasing local borrowing capacity and reducing interest costs [19][20] - The acquisition of AHP Dental is expected to provide a step into the dental market, with an anticipated EBITDA contribution of around $1,000,000 for FY '26 [46][45] Q&A Session Summary Question: Outlook on revenue and profit for next year - Management indicated that revenue growth would be positive but not necessarily at the same rate as FY '25, suggesting single mid-digit growth rates [33] Question: Competitive landscape in retail pharmacy - Management noted the difficulty in predicting the competitive landscape due to market evolution, particularly following significant mergers [34] Question: Clarification on integration costs in EBITDA - Integration costs were clarified to be excluded from the underlying EBITDA figure [36][37] Question: M&A pipeline and net debt to EBITDA ratio - Management expressed willingness to increase net debt to pursue opportunities, particularly in Asia [38] Question: Details on synergies and cost savings from refinancing - Management confirmed that the $2,000,000 cost saving from refinancing is separate from the $12,000,000 synergy target for FY '26 [43][44] Question: Profitability of recent acquisitions - The AHP Dental acquisition is expected to contribute modestly to EBITDA but offers growth potential in the dental market [46] Question: Focus on growth opportunities in Asia - Management confirmed ongoing efforts to explore acquisitions in Asia that align with current operations [49] Question: Future financing arrangements with Scott Pak - Management indicated a commitment to maintaining the lowest possible cost of funds and flexibility in financing arrangements [57][58]

Financial Data and Key Metrics Changes - The company reported a revenue of $3,600,000,000, reflecting an 8.3% increase compared to the previous year [12][8] - Underlying EBITDA was $95,200,000, up $2,800,000 or about 3% year-on-year, driven by a $25,000,000 increase in gross margin dollars [12][13] - Net profit after tax was $31,200,000, with statutory results showing a net profit of $20,600,000 [8][12] Business Line Data and Key Metrics Changes - Revenue from Australia and New Zealand grew to $3,500,000,000, an increase of 8%, with gross margin rising to $277,900,000, up 5% [21] - The Asian market saw revenue increase from $84,200,000 to $101,000,000, a growth of 20%, with gross margin up by 30% to $46,100,000 [23][24] - Clinical manufacturing signed its first contract manufacturing agreement, indicating growth potential in that segment [22] Market Data and Key Metrics Changes - The Australian pharmacy market experienced solid growth, while hospital pharmacy remained flat [21] - The Asian market, particularly Thailand, showed exceptional growth in aesthetics, contributing significantly to revenue increases [24] - Challenges were noted in Korea due to a doctors' strike, and modest growth was observed in the Philippines due to declining contracts [25] Company Strategy and Development Direction - The company aims to continue its three-two-one strategy, focusing on integrating its businesses and expanding in Asia [27] - There is a strong emphasis on organic growth through investments in sales teams and new business opportunities in dental, robotics, and aesthetics [27][28] - The company is committed to operational efficiencies and simplifying its business structure while exploring merger and acquisition opportunities, particularly in Asia [28] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in achieving $12,000,000 in synergies for FY '26, building on the $5,000,000 achieved in FY '25 [14][26] - The outlook for revenue and profit growth remains positive, with expectations for improved profitability as synergies are realized [29] - Management highlighted a focus on the competitive landscape in retail pharmacy and the need to adapt to market changes [33] Other Important Information - The company completed a refinancing with Scott Pak, resulting in a $400,000,000 financial covenant-free facility, which is expected to save $2,000,000 in interest annually [18][19] - The company is working towards achieving ISO certifications and GMP accreditation for its facilities [26] Q&A Session Summary Question: Outlook on revenue and profit for next year - Management indicated that revenue growth would be positive but not necessarily at the same rate as FY '25, suggesting single mid-digit growth rates [32] Question: Competitive landscape in retail pharmacy - Management noted that the competitive landscape has evolved, particularly due to recent mergers, and they hope to continue benefiting from trends in the market [33] Question: Clarification on integration costs in EBITDA - Integration costs were clarified to be excluded from the underlying EBITDA, allowing for a clearer view of operational performance [36] Question: M&A pipeline and net debt to EBITDA ratio - Management expressed willingness to increase net debt to pursue opportunities, particularly in Asia, while remaining focused on outcomes [37] Question: Details on recent acquisitions - The AHP Dental acquisition is expected to provide growth opportunities, although it may not contribute significantly to EBITDA initially [46][47] Question: Focus on growth opportunities in Asia - Management confirmed a strong focus on growth opportunities in Asia, with plans to update stakeholders before the AGM [50] Question: Future financing arrangements with Scott Pak - Management confirmed a commitment to maintaining low costs of funds and flexibility in financing arrangements, with a minimum term of two years for the current facility [57]

Financial Performance - ParagonCare achieved revenue of over $3.6 billion in FY25[31, 51, 53], reflecting an 8.3% increase in underlying revenue compared to the proforma FY24[55] - Underlying EBITDA reached $95.2 million in FY25[31, 52], a 3% increase from the proforma FY24[55] - Underlying Net Profit After Tax (excluding PPA) was $31.2 million in FY25[52, 55], representing a 9.5% increase compared to the proforma FY24[55] - Statutory EBITDA increased significantly by 97.5% to $88.5 million in FY25[53, 55], while Statutory Net Profit After Tax increased by 151.2% to $20.6 million[53, 55] Business Segments - Wholesale sales contributed $3.0 billion to the revenue, showing an 8% increase[56] - Medical Technology sales reached $298 million, a 1% increase[57] - Contract Logistics sales grew by 25% to $336 million[60, 63] - Clinical Manufacturing sales increased by 9% to $25 million[60] - Pharmacy sales grew by 11.6%, with retail pharmacy growth outpacing the market at 23.4%[58] Strategic Initiatives and Integration - The company is executing a "3-2-1" strategic initiative (Three Businesses, Two Years, One Team) to integrate merged businesses[44, 46, 87] - The company achieved $5 million in annual synergies in FY25 and is on track for $12 million in FY26[69, 85] - The company is integrating various entities onto the JDE ERP system, with completion across ANZ expected by the end of FY26[45] Balance Sheet and Cash Flow - Net debt increased to $214.8 million[55], with a Net Debt: EBITDA ratio of 2.26x[55] - Operating cash flows were impacted by a $57 million receivable from a retail pharmacy group[73] - The company secured a revised $400 million debt facility with ScotPac[48, 71] Asia Pacific (APAC) Region - Asia's total revenue from Medical Technology grew by 20% to $101.3 million[81] - The Aesthetics business drove growth in Asia due to new products and increased promotional activity[82]

Core Viewpoint - Plato Gold Corp. reported its financial results for the six and three months ended June 30, 2025, showing no income and significant net losses compared to the same periods in 2024 [1]. Financial Summary - For the six months ended June 30, 2025, the company reported no income, a net loss of $1,189,034, and a comprehensive loss of $1,195,228, compared to a net loss of $95,823 and a comprehensive loss of $95,823 for the same period in 2024 [1]. - For the three months ended June 30, 2025, the company again reported no income, a net loss of $1,159,065, and a comprehensive loss of $1,165,259, compared to a net loss of $43,159 and a comprehensive loss of $43,159 for the same period in 2024 [1]. - The loss per common share for both the six and three months ended June 30, 2025, was $0.01, while it was $0.00 for the same periods in 2024 [1]. - The weighted average number of common shares outstanding for the six months ended June 30, 2025, was 230,665,717, compared to 228,649,233 for the same period in 2024 [1]. Company Overview - Plato Gold Corp. is a Canadian exploration company listed on the TSX Venture Exchange, OTC Markets, and Frankfurt Exchange, with projects located in Timmins, Ontario, and Santa Cruz, Argentina [3]. - The Timmins project includes four properties: Guibord, Harker, Holloway, and Marriott, focusing on gold exploration [3]. - In Argentina, the company holds a 95% interest in Winnipeg Minerals S.A., which has mineral rights totaling 9,672 hectares with potential for gold and silver [4]. - The Good Hope Niobium Project covers approximately 6,035 hectares near Marathon, Ontario, targeting niobium [4]. - The Pic River Platinum Group Metals Project consists of 2,352 hectares near Marathon, with claims contiguous to Generation Mining's Marathon PGM project [5].