Financial Results and Supplemental Information FOURTH QUARTER 2025 February 23, 2026 Exhibit 99.2 Table of Contents | FINANCIAL RESULTS | Diversified Healthcare Trust Announces Fourth Quarter 2025 Financial Results . | | | --- | --- | --- | | | Fourth Quarter 2025 Highlights | | | | Full Year 2026 Guidance .. | | | FINANCIALS | Key Financial Data | | | | Condensed Consolidated Balance Sheets | | | | Condensed Consolidated Statements of Income (Loss) | | | DEBT AND LEVERAGE | Debt Summary . | | | | Debt Matu ...

Brighthouse Financial, Inc. Financial Supplement Fourth Quarter 2025 Financial Results Earnings and Select Metrics from Segments Other Information Appendix Note: See the Appendix for non-GAAP financial information, definitions and reconciliations. Financial information, unless otherwise noted, is rounded to millions. Some financial information, therefore, may not sum to the corresponding total. Exhibit 99.2 As used in this financial supplement, "Brighthouse Financial," "Brighthouse," the "Company," "we," "o ...

Exhibit 99.2 Brighthouse Financial, Inc. Financial Supplement Fourth Quarter 2025 Other Information Appendix Note: See the Appendix for non-GAAP financial information, definitions and reconciliations. Financial information, unless otherwise noted, is rounded to millions. Some financial information, therefore, may not sum to the corresponding total. As used in this financial supplement, "Brighthouse Financial," "Brighthouse," the "Company," "we," "our" and "us" refer to Brighthouse Financial, Inc. Table of C ...

Exhibit 99.2 Brighthouse Financial, Inc. Financial Supplement Fourth Quarter 2025 Financial Results Earnings and Select Metrics from Segments Other Information Appendix Note: See the Appendix for non-GAAP financial information, definitions and reconciliations. Financial information, unless otherwise noted, is rounded to millions. Some financial information, therefore, may not sum to the corresponding total. As used in this financial supplement, "Brighthouse Financial," "Brighthouse," the "Company," "we," "o ...

Exhibit 99.2 Brighthouse Financial, Inc. Financial Supplement Fourth Quarter 2025 Financial Results Earnings and Select Metrics from Segments Other Information Appendix Note: See the Appendix for non-GAAP financial information, definitions and reconciliations. Financial information, unless otherwise noted, is rounded to millions. Some financial information, therefore, may not sum to the corresponding total. As used in this financial supplement, "Brighthouse Financial," "Brighthouse," the "Company," "we," "o ...

Financial Performance - Total revenue for 2025 was $757.5 million, representing a 9% increase from $694.7 million in 2024[336] - Gross profit for 2025 was $413.4 million, compared to $371.4 million in the previous year, with non-GAAP gross profit at $421.6 million[336] - Net loss for 2025 was $(51.0) million, an improvement from $(79.5) million in 2024, while non-GAAP net income was $66.8 million[336] - Adjusted EBITDA for 2025 was $63.5 million, up from $41.5 million in 2024[336] - Free Cash Flow for 2025 reached $78.5 million, an increase from $59.3 million in 2024, demonstrating enhanced liquidity[417] - Non-GAAP net income for 2025 was $66.8 million, compared to $55.6 million in 2024, reflecting a growth of 20.0%[411] - Adjusted EBITDA Margin improved to 8.4% in 2025, up from 6.0% in 2024, indicating better cost management[414] - Net cash provided by operating activities was $108.7 million, compared to $95.4 million in the previous year[336] - Total operating expenses for 2025 were $490.8 million, a slight increase of $6.2 million, or 1%, compared to $484.6 million for 2024[371] - Income tax expense for 2025 was $5.1 million, a significant increase of 410% compared to $1.0 million for 2024[377] Revenue Breakdown - Consumer revenue for the year ended December 31, 2025, was $502.2 million, with a year-over-year growth of 10%[406] - Enterprise revenue for the year ended December 31, 2025, was $255.3 million, reflecting a year-over-year growth of 7%[406] - Consumer revenue increased by $46.4 million, or 10%, driven by growth in subscription revenue from Coursera Plus[367] - Enterprise revenue increased by $16.4 million, or 7%, attributed to an increase in new customers[367] Learner Engagement - The platform had approximately 197 million cumulative Registered Learners as of December 31, 2025[328] - The number of total Registered Learners increased to 197.3 million as of December 31, 2025, representing a year-over-year growth of 17%[398] - Paid Enterprise Customers grew to 1,730 as of December 31, 2025, marking a year-over-year increase of 7%[400] - The Net Retention Rate for Paid Enterprise Customers improved to 93% for the year ended December 31, 2025, up from 87% in the prior year[403][404] Operational Changes - The company reduced its global workforce by approximately 9% to prioritize investments in key initiatives for sustainable growth[339] - Research and development expenses decreased by $10.5 million, or 8%, to $121.6 million in 2025[372] - Sales and marketing expenses increased by $20.8 million, or 9%, to $255.7 million in 2025[373] Cash and Liquidity - As of December 31, 2025, cash and cash equivalents totaled $792.6 million, serving as the principal source of liquidity[378] - The company expects its existing cash and cash equivalents, along with anticipated cash flows from operations, to meet cash needs for at least the next 12 months[380] - As of December 31, 2025, the company has long-term operating lease obligations of $5.7 million and total operating lease obligations of approximately $6.5 million[382][381] Mergers and Acquisitions - Coursera entered into a merger agreement with Udemy, with each share of Udemy common stock converting into 0.800 shares of Coursera common stock[332] Stock and Compensation - The company approved a share repurchase program to buy back up to $95.0 million of its common stock, completing the purchase authorization on May 7, 2024[384] - Stock-based compensation expense for 2025 was $96.7 million, down from $108.1 million in 2024, reflecting a decrease in related costs[414] Market Sensitivity - A hypothetical 100 basis point change in interest rates would have impacted annualized interest income by $7.9 million in 2025[426] - A 10% change in foreign exchange rates would have affected loss before income taxes by $0.5 million in 2025[429]

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K Mark One 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 (Exact name of registrant as specified in its charter) ☐ 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 000-50056 Delaware 05-0527861 State or other jurisdiction of incorporat ...

Table of Contents Washington, D.C. 20549 ________________________ FORM 10-K ________________________ UNITED STATES SECURITIES AND EXCHANGE COMMISSION (Mark One) x 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 o 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 001-39671 ________________________ MediaAlpha, Inc. (Exact name of Re ...

Financial Performance - ONEOK reported a full-year 2025 net income of $3.39 billion, an 11% increase from 2024, resulting in $5.42 per diluted share[4]. - Adjusted EBITDA for 2025 reached $8.02 billion, reflecting an 18% increase compared to the previous year[4]. - ONEOK's net income for the year 2025 increased by 11% to $3,462 million compared to $3,112 million in 2024[50]. - Adjusted EBITDA rose by 18% in 2025, reflecting strong operational performance[50]. - Total revenues for 2025 reached $33,629 million, up from $21,698 million in 2024, driven by a significant increase in commodity sales[50]. - Cash provided by operating activities was $5,599 million, up from $4,888 million in 2024[54]. - ONEOK reported a net income of $978 million for Q4 2025, a decrease of 2.2% from $1,000 million in Q4 2024, while full-year net income increased to $3,462 million, up 11% from $3,112 million in 2024[56]. - Adjusted EBITDA for Q4 2025 was $2,145 million, slightly down from $2,174 million in Q4 2024, with a full-year adjusted EBITDA of $8,020 million, representing an 18% increase from $6,784 million in 2024[56]. Capital Expenditures - Capital expenditures for 2026 are expected to range from $2.7 billion to $3.2 billion, focusing on key projects like the Medford fractionator rebuild and Denver-area refined products expansion[19]. - Capital expenditures for 2025 were $3,152 million, compared to $2,021 million in 2024, reflecting increased investment in growth[54]. - Capital expenditures for Q4 2025 totaled $234 million, compared to $202 million in Q4 2024, with full-year capital expenditures at $758 million, down from $987 million in 2024[55]. Operational Highlights - The Rocky Mountain region saw a 15% increase in NGL raw feed throughput volumes and a 3% increase in natural gas volumes processed[4]. - Natural gas processed in Q4 2025 reached 5,706 MMcf/d, an increase from 2,342 MMcf/d in Q4 2024, while full-year processing volumes were 5,588 MMcf/d, up from 2,317 MMcf/d in 2024[55]. - The company’s refined products volume shipped in Q4 2025 was 1,670 MBbl/d, up from 1,521 MBbl/d in Q4 2024, with full-year shipments at 1,526 MBbl/d, compared to 1,512 MBbl/d in 2024[55]. - ONEOK's natural gas transportation capacity contracted was 7,509 MDth/d in Q4 2025, down from 8,395 MDth/d in Q4 2024, with a full-year capacity of 7,315 MDth/d, compared to 8,176 MDth/d in 2024[55]. Future Guidance - For 2026, ONEOK's financial guidance includes a net income range of $3.19 billion to $3.71 billion and adjusted EBITDA between $7.9 billion and $8.3 billion[13]. - ONEOK's 2026 guidance anticipates continued earnings growth driven by recent acquisitions and fee-based earnings from volume growth[16]. - The company expects 2026 adjusted EBITDA guidance in the range of $7,900 million to $8,300 million, with net income projected between $3,190 million and $3,710 million[58]. - Interest expense for 2026 is anticipated to be between $1,735 million and $1,835 million, with depreciation and amortization expected to range from $1,520 million to $1,600 million[58]. - ONEOK's segment adjusted EBITDA for Natural Gas Liquids is projected to be between $2,775 million and $2,915 million for 2026[58]. Strategic Initiatives - ONEOK achieved $475 million in cumulative acquisition-related synergies through year-end 2025, with approximately 90% of earnings being fee-based[10]. - The company plans to continue focusing on market expansion and strategic acquisitions to enhance its operational capabilities[44]. - The Eiger Express Pipeline expansion to 3.7 Bcf/d was announced in November 2025, with full subscription under long-term contracts[15]. - ONEOK expects a moderation in producer activity in 2026 due to projected commodity price environments, estimating an average WTI crude oil price of $55 to $60 per barrel[17]. Adjusted EBITDA Contributions - Adjusted EBITDA from EnLink contributed an increase of $740 million for the full year 2025[32]. - The company experienced a $122 million decrease in adjusted EBITDA due to lower realized prices, primarily NGL prices, net of hedging[32]. - A $264 million decrease in adjusted EBITDA was attributed to the divestiture of interstate natural gas pipelines in 2024[36]. - The Natural Gas Pipelines Segment reported a decrease in adjusted EBITDA to $861 million in 2025 from $900 million in 2024[33]. - ONEOK's adjusted EBITDA from optimization and marketing activities increased by $33 million in 2025[36]. Management Insights - ONEOK's management will provide further insights during the earnings conference call scheduled for February 24, 2026[34].

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 ...