Exhibit 99(a) UFP Industries Announces Fourth Quarter 2025 Results GRAND RAPIDS, MI (February 23, 2026) - UFP Industries, Inc. (Nasdaq: UFPI) a leading manufacturer focused on delivering value-added products across its Retail, Packaging, and Construction segments reported results for the fourth quarter 2025. Will Schwartz, President and CEO of UFP Industries, commented, "We continue to see trends stabilizing across the majority of our businesses. Despite generally soft end-market demand, our fourth quarter ...

Financial Performance - Clearway Energy, Inc. reported a full year 2025 Net Loss of $231 million and Adjusted EBITDA of $1,217 million, with Cash from Operating Activities of $688 million and Cash Available for Distribution (CAFD) of $430 million[2][3]. - For the fourth quarter of 2025, Clearway reported a Net Loss of $199 million and Adjusted EBITDA of $237 million, with Cash from Operating Activities of $177 million and CAFD of $35 million[8]. - Total operating revenues for 2025 reached $1,429 million, an increase of 4.2% from $1,371 million in 2024[33]. - Operating income decreased to $160 million in 2025, down 18.4% from $196 million in 2024[33]. - Net loss attributable to Clearway Energy, Inc. was $169 million in 2025, compared to a net income of $88 million in 2024[33]. - The company reported a comprehensive loss of $234 million in 2025, compared to a comprehensive loss of $67 million in 2024[35]. - For the year ended December 31, 2025, the net loss was $231 million, compared to a net loss of $63 million in 2024 and $14 million in 2023[40]. - Adjusted EBITDA for Q4 2025 was $237 million, compared to $228 million in Q4 2024, reflecting a year-over-year increase of 3.9%[48]. - For the twelve months ended December 31, 2025, Adjusted EBITDA reached $1,217 million, up from $1,146 million in 2024, indicating a growth of 6.2%[48]. - Net income for the twelve months ended December 31, 2025, was a loss of $231 million, compared to a loss of $63 million in 2024[46]. Cash Flow and Liquidity - Net cash provided by operating activities for 2025 was $688 million, a decrease from $770 million in 2024 and an increase from $702 million in 2023[40]. - The company reported net cash used in investing activities of $803 million in 2025, compared to $725 million in 2024 and $523 million in 2023[40]. - Total liquidity as of December 31, 2025, was $1,061 million, which was $269 million lower than the same period in 2024, primarily due to growth investments[11]. - The total cash, cash equivalents, and restricted cash at the end of 2025 was $818 million, an increase from $733 million at the end of 2024[40]. - Total cash, cash equivalents, and restricted cash increased by $85 million in 2025[49]. Debt and Capital Expenditures - The company raised $600 million in corporate debt and $50 million in equity since the last earnings call, reaffirming its 2026 financial guidance range of $470 million to $510 million for CAFD[4][25]. - Long-term debt rose to $7,898 million in 2025, an increase of 17% from $6,750 million in 2024[38]. - The company incurred $1,461 million in payments for long-term debt during 2025[49]. - The company made capital expenditures of $319 million in 2025[49]. Assets and Liabilities - Total assets increased to $16,655 million in 2025, up from $14,329 million in 2024, representing a growth of 16.3%[38]. - Total liabilities increased to $10,741 million in 2025, compared to $8,765 million in 2024, marking a rise of 22.5%[38]. - Cash and cash equivalents decreased to $231 million in 2025, down from $332 million in 2024[38]. Operational Highlights - Clearway's late-stage pipeline now includes 11.2 GW in opportunities, with 2 GW of contracts signed to provide power solutions for data centers[4]. - The company signed three long-term power purchase agreements (PPAs) with Google for approximately 1.1 GW of projects located in Missouri, Texas, and West Virginia[16]. - Clearway is targeting commercial operations for the 650 MW Swan Solar project in 2028, with a potential corporate capital commitment of approximately $215 million[17]. - The company entered into an agreement to acquire interests in the 199 MW Spindle and 92 MW Rosamond South II battery energy storage facilities for approximately $90 million[19]. - Clearway's quarterly operating results are impacted by seasonal factors, with most revenues generated from May through September due to higher contracted pricing and renewable resources[23]. Shareholder Returns - Earnings per share attributable to Class A and Class C common stock increased to $1.43 in 2025, up from $0.75 in 2024[33]. - Dividends per Class A and Class C common share were $1.77 in 2025, compared to $1.65 in 2024, reflecting a 7.3% increase[33].

Overview of Financial and Operating Results Segment Results Table 1: Net Income/(Loss) | ($ millions) | Three Months Ended | | | Twelve Months Ended | | | | --- | --- | --- | --- | --- | --- | --- | | Segment | 12/31/25 | 12/31/24 | 12/31/25 | | 12/31/24 | | | Flexible Generation | 10 | 14 | | 40 | | 64 | | Renewables & Storage | (84) | (29) | | (60) | | 31 | | Corporate | (125) | (33) | | (211) | | (158) | | Net Income/(Loss) | $ (199) $ | (48) | $ | (231) $ | | (63) | Clearway Energy, Inc. Reports Full Ye ...

Erie Indemnity Company Exhibit 99.2 Erie Indemnity Company Consolidated Statements of Operations (dollars in thousands, except per share data) | | | | Three months ended December | | | | Twelve months ended | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | | | | | 31, | | | December 31, | | | | | | 2025 | (Unaudited) | 2024 | | 2025 | | 2024 | | Operating revenue | | | | | | | | | | Management fee revenue - policy issuance and renewal | | | | | | | | | | services | $ | 727,629 | $ | 698,340 | $ | ...

Exhibit 99.1 • Total P&C premium production increased 15% for the quarter to $303 million • Insurance Distribution Segment ◦ Commission Income grew to $37 million, an increase of 13% ◦ Organic revenue growth equaled 8.1% ◦ Net loss to Shareholders of $(1) million for the quarter, an improvement of 76% ◦ Adjusted EBITDA to Shareholders of $7 million for the quarter, up 33% • Specialty P&C Insurance ("Everspan") ◦ Gross and net premiums written of $80 million and $23 million were up 34% and 978%, respectively ...

Financial Performance - Fourth quarter 2025 net income was $8.7 million, or $0.24 per share, on sales of $1.5 billion, while full year net income was $132.8 million, or $3.53 per share, on sales of $6.4 billion[1]. - Fourth quarter sales decreased by 7% year-over-year, and full year sales decreased by 5% compared to 2024[3]. - Adjusted EBITDA for the fourth quarter was $57.2 million, down 56% from the previous year, and for the full year, it was $342.2 million, down 46%[3]. - Income from operations for the year ended December 31, 2025, was $183,329,000, down from $490,038,000 in the previous year[26]. - Net income for the three months ended December 31, 2025, was $8,734,000, compared to $68,900,000 in the previous quarter[26]. - The company reported a net income of $132.84 million for the year ended December 31, 2025, down from $376.35 million in 2024, a decrease of 64.8%[39]. - Net income for Q4 2025 was $8,734,000, a significant decrease from $68,900,000 in Q4 2024, representing a decline of approximately 87.3%[41]. - EBITDA for the year ended December 31, 2025 was $341,254,000, down from $630,800,000 in 2024, indicating a decrease of about 45.9%[41]. Segment Performance - Building Materials Distribution (BMD) sales decreased by $75.7 million, or 5%, in Q4 2025, driven by a 4% decrease in sales prices and a 1% decrease in sales volumes[5]. - Wood Products sales decreased by $65.7 million, or 16%, in Q4 2025, with a segment loss of $13.8 million compared to a profit of $33.6 million in Q4 2024[7]. - Segment sales for the Wood Products segment decreased to $353.96 million in Q4 2025 from $419.67 million in Q4 2024, representing a decline of 15.6%[29]. - Segment income for the Wood Products segment reported a loss of $13.79 million in Q4 2025 compared to a profit of $33.58 million in Q4 2024[31]. - Total segment income for the company decreased to $27.69 million in Q4 2025 from $104.28 million in Q4 2024, a decline of 73.5%[31]. - Segment EBITDA for Building Materials Distribution in Q4 2025 was $56,449,000, down from $84,459,000 in Q4 2024, a decrease of about 33.1%[42]. - Wood Products segment reported a loss of $13,794,000 in Q4 2025, compared to a profit of $33,583,000 in Q4 2024, marking a significant shift in performance[42]. Cash and Liquidity - The company ended Q4 2025 with $477.2 million in cash and cash equivalents and $395.1 million in undrawn committed bank line availability, totaling $872.3 million in liquidity[10]. - Cash provided by operations decreased to $254.15 million in 2025 from $438.32 million in 2024, a decrease of 42.0%[39]. - The company's cash and cash equivalents decreased to $477.22 million as of December 31, 2025, from $713.26 million in 2024, a decline of 33.1%[34]. Capital Expenditures and Debt - Capital expenditures for 2025 totaled $274.8 million, with expectations for 2026 capital expenditures to be between $150 million and $170 million[11]. - Long-term debt remained relatively stable at $445.41 million as of December 31, 2025, compared to $446.17 million in 2024[36]. - The company incurred total expenditures for property and equipment of $241.43 million in 2025, compared to $229.57 million in 2024, an increase of 5.2%[39]. Dividends and Share Repurchases - The board declared a quarterly dividend of $0.22 per share, payable on March 18, 2026[12]. - The company declared dividends of $0.22 per common share for the three months ended December 31, 2025, compared to $0.21 in the previous quarter[26]. - The company repurchased 2,101,392 shares of common stock for $181.4 million in 2025, with an additional $39 million spent on share repurchases in early 2026[13]. Market Conditions - Total U.S. housing starts decreased by 4% in Q4 2025 and 1% for the full year, with single-family housing starts down 7% in both periods[4]. - The company highlighted the importance of successfully executing organic growth and acquisition strategies as part of its long-term growth strategy[24]. Costs and Expenses - Costs and expenses for the year ended December 31, 2025, totaled $6,221,266,000, slightly down from $6,234,256,000 in the previous year[26]. - Interest expense for the year ended December 31, 2025, was $21,846,000, down from $24,067,000 in the previous year[26]. - Interest expense for the year ended December 31, 2025 was $21,846,000, a decrease from $24,067,000 in 2024, representing a reduction of about 9.1%[41]. - Depreciation and amortization for the year ended December 31, 2025 was $158,221,000, compared to $144,113,000 in 2024, an increase of approximately 9.8%[41]. - The change in fair value of interest rate swaps for the year ended December 31, 2025 was $925,000, down from $2,038,000 in 2024, indicating a decrease of about 54.5%[41]. - Unallocated corporate costs for Q4 2025 were $(11,737,000), slightly higher than $(11,565,000) in Q4 2024, reflecting an increase of about 1.5%[42].

Financial Position - The company's long-term debt, including the current portion, totaled $2,789.2 million as of December 28, 2025[271]. - The company had no outstanding borrowings under its Class A-1 Notes or other lines of credit as of December 28, 2025[271]. - Total assets decreased from $5,034,843 thousand in 2024 to $4,956,561 thousand in 2025, a decline of approximately 1.5%[292]. - Long-term debt increased from $2,662,130 thousand in 2024 to $2,730,502 thousand in 2025, an increase of about 2.6%[292]. - Total stockholders' equity decreased significantly from $259,352 thousand in 2024 to $117,383 thousand in 2025, a decline of about 54.7%[292]. - Total cash, cash equivalents, and restricted cash at the end of the period was $357,672,000, down from $503,608,000 at the end of 2024[302]. - The company had no customers accounting for 10% or more of consolidated revenues in 2025, mitigating concentration risk[361]. Revenue and Income - Revenues for 2025 totaled $2,176,891 thousand, a decrease of 3.1% compared to $2,246,492 thousand in 2024[294]. - Net income for 2025 was $165,075 thousand, down from $194,357 thousand in 2024, representing a decrease of about 15%[294]. - The company reported a basic net income per share of $0.85 for 2025, down from $0.95 in 2024, a decrease of approximately 10.5%[294]. - Comprehensive income for 2025 was $175,860 thousand, compared to $177,979 thousand in 2024, a decrease of approximately 1.2%[297]. - Franchise royalty revenue for 2025 was $504,547, compared to $528,388 in 2024, representing a decline of approximately 4.5%[383]. Expenses and Costs - Operating profit decreased from $371,359 thousand in 2024 to $343,452 thousand in 2025, a decline of approximately 7.5%[294]. - Cash and cash equivalents decreased from $450,512 thousand in 2024 to $300,833 thousand in 2025, a reduction of about 33.3%[292]. - The total lease cost for 2025 was $218,180, an increase from $213,707 in 2024, reflecting a rise of approximately 2.2%[392]. - The accumulated depreciation and amortization expense related to properties for 2025 was $80,061, compared to $75,575 in 2024, indicating an increase of about 5.3%[388]. - The company recognized an impairment of long-lived assets amounting to $12,095,000 in 2025, compared to $9,713,000 in 2024[302]. Cash Flow and Investments - Net cash provided by operating activities was $344,543,000 in 2025, slightly down from $355,307,000 in 2024[302]. - The company reported a net cash used in investing activities of $150,832,000 in 2025, up from $129,305,000 in 2024[302]. - Proceeds from long-term debt amounted to $475,500,000 in 2025, with repayments of long-term debt at $453,993,000[302]. - The company recognized sublease income of $172,742 in 2025, contributing to its overall rental income[401]. Taxation - The total income tax provision for 2025 was $(62,171), compared to $(78,056) in 2024 and $(74,978) in 2023[451]. - The company has net operating loss carryforwards of $901,094, with expiration dates ranging from 2026 to indefinite[453]. - Unrecognized tax benefits as of December 28, 2025, totaled $19,048 thousand, with a potential reduction in income tax expense of $15,048 thousand if resolved favorably[459]. Risk Management - The company is exposed to interest rate increases under certain debt agreements but had no outstanding derivative instruments as of December 28, 2025[270]. - The company employs established policies to manage exposure to interest rate changes, commodity prices, and foreign currency fluctuations[269]. - The company is focused on managing risks associated with digital commerce strategies and cybersecurity incidents[1]. - The company is subject to risks related to labor costs, supply chain interruptions, and compliance with legal and regulatory requirements[1]. Accounting Policies - The company accounts for restaurant acquisitions using the acquisition method, with goodwill recognized as the excess of purchase price over fair values of acquired assets[339]. - The company evaluates long-lived assets for impairment based on future undiscounted net cash flows expected to be generated[325]. - The company uses the right-of-use model for leases, recognizing lease liabilities and ROU assets at lease commencement[353]. - Deferred tax assets are recognized to the extent they are expected to be realized, considering future taxable income and other evidence[337].

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 (Mark One) FORM 10-K ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2025 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from ____________ to ____________ Commission File Number 1-13006 PARK NATIONAL CORPORATION (Exact name of registrant as specified in its charter) Ohio 31-1179518 (State ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 for the fiscal year ended December 31, 2025 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Commission file number 000-3683 TRUSTMARK CORPORATION (Exact name of Registrant as specified in its charter) (State or other jurisdiction of incorporation or organization) MISSISSIPPI 64-0471500 (IRS Emplo ...

Financial Performance - ProAssurance reported net income of $33.4 million, or $0.64 per diluted share, for Q4 2025, and net income of $50.9 million, or $0.99 per diluted share, for the full year 2025[1]. - The return on equity for 2025 was 4.0%, with a Non-GAAP operating return on equity of 6.6%[10]. - Net income for Q4 2025 was $33.369 million, up from $16.169 million in Q4 2024, representing a 106.8% increase[19]. - Non-GAAP operating income for Q4 2025 was $42.389 million, compared to $19.744 million in Q4 2024, reflecting a 114.3% increase[19]. - The net loss ratio for the year ended December 31, 2025 was 71.2%, a decrease of 0.8 percentage points from 2024[25]. - The combined ratio for the year ended December 31, 2025 improved to 106.6%, down 2.4 percentage points from 2024[25]. - The operating ratio for Q4 2025 improved to 75.0%, down 2.0 percentage points from 94.0% in Q4 2024[23]. - Non-GAAP operating ROE for Q4 2025 was 12.8%, up from 6.5% in Q4 2024, while the annualized ROE for 2025 was 4.0%, compared to 4.6% in 2024[28]. Premiums and Revenue - Consolidated net premiums written were $916.9 million for 2025, with $673.6 million from Medical Professional Liability, representing over 95% of the Specialty P&C segment[5]. - Specialty P&C renewal premium increases of 8% for 2025 contribute to a cumulative premium change of over 80% since 2018 in the medical professional liability market[5]. - Specialty P&C segment gross premiums written decreased by 3.6% to $155,815,000 for Q4 2025 compared to Q4 2024[11]. - Net premiums earned in the Specialty P&C segment fell by 2.7% to $180,846,000 for Q4 2025, with total revenues declining by 3.8% to $180,263,000[11]. - Workers' Compensation segment net premiums written increased by 4.5% to $30,887,000 in Q4 2025, while total revenues decreased by 5.1% to $41,132,000[13]. Investment Performance - Consolidated net investment income increased by 8.3% for the year, reflecting higher average book yields[5]. - Corporate segment net investment income increased by 9.0% to $39,126,000 in Q4 2025, contributing to a segment result of $7,027,000, a decrease of 75.9% from Q4 2024[17]. - The company recognized net investment gains of $4.861 million in Q4 2025, up from $3.243 million in Q4 2024[19]. Underwriting Performance - The consolidated Non-GAAP combined ratio improved by 4.8 points to 104.2% for 2025, with a 90.3% Non-GAAP combined ratio in Q4 2025[5]. - The Specialty P&C segment reported a significant improvement in segment results, achieving $32,356,000 in Q4 2025, a 597.2% increase from a loss of $6,508,000 in Q4 2024[11]. - The Workers' Compensation segment reported a net loss ratio of 78.8% for Q4 2025, up from 75.7% in Q4 2024, indicating a deterioration in underwriting performance[14]. - The Segregated Portfolio Cell Reinsurance segment achieved a net loss ratio of 32.0% for Q4 2025, significantly improved from 48.4% in Q4 2024[16]. - Non-core operations reported an underwriting loss of $3.4 million for Q4 2025, compared to a loss of $6.3 million in Q4 2024[22]. Transaction and Regulatory Updates - The company anticipates closing the transaction with The Doctors Company by June 30, 2026, pending regulatory approvals[3]. - The Federal Trade Commission granted early termination of the waiting period for the transaction under the Hart-Scott-Rodino Antitrust Improvements Act[4]. - The company has outlined potential risks related to its proposed transactions, including stock price fluctuations and regulatory approvals, which could impact future performance[32]. - Management anticipates that the completion of proposed transactions may involve unexpected costs and could affect business operations during the transition period[33]. - ProAssurance emphasizes the importance of retaining key personnel and maintaining business relationships during the proposed transaction process[33]. - The company is committed to updating stakeholders on forward-looking statements and potential risks as they evolve[33]. Book Value - Book value per share rose to $26.24 at December 31, 2025, up from $23.49 at year-end 2024[9]. - Non-GAAP adjusted book value per share increased to $27.82 at December 31, 2025, from $26.86 at December 31, 2024, reflecting a net income contribution of $0.99 per share[29]. - The book value per share at December 31, 2025, was $26.24, after accounting for an accumulated other comprehensive income (AOCI) adjustment of $(1.58) per share[29]. Company Strategy and Outlook - ProAssurance Corporation is rated "A" (Excellent) by AM Best, indicating strong financial stability and performance in the specialty insurance sector[30]. - The company is focused on expanding its market presence in medical professional liability and workers' compensation insurance in the eastern U.S.[30]. - ProAssurance is actively engaged in developing cutting-edge risk management and practice enhancement programs to support its clients[31].