Credit Agreement Amendments - The Maturity Date of the Credit Agreement has been extended from September 30, 2026, to September 30, 2027[4]. - The Borrower will pay a Maturity Extension Fee of 50 basis points (0.50%) based on the aggregate Commitment of each Lender as of the Effective Date[14]. - The Borrower must redeem the Specified Preferred Shares if it receives sufficient proceeds from the exercise of Series A Warrants by March 17, 2026[7]. - The Borrower and Guarantors confirm that all representations and warranties in the Credit Agreement are true and correct as of the date of this Amendment[10]. - The Borrower has agreed to pay all out-of-pocket costs and expenses incurred by the Administrative Agent, Security Agent, and Lenders in connection with this Amendment[21]. - The execution of this Amendment is authorized by all necessary corporate actions of the Borrower and Guarantors[11]. - No Default or Event of Default has occurred and is continuing after the execution of this Amendment[12]. - The existing security interests granted by the Loan Parties remain valid and continue to secure the obligations under the Credit Agreement[15]. - This Amendment constitutes a "Loan Document" for all purposes of the Credit Agreement and other Loan Documents[17]. - The Amendment is governed by the laws of the State of New York[18].

EXHIBIT 10.1 TENTH AMENDMENT TO CREDIT AGREEMENT This TENTH AMENDMENT TO CREDIT AGREEMENT, dated as of November 4, 2025 (this "Amendment"), is entered into by and among (a) PURECYCLE TECHNOLOGIES, INC., a Delaware corporation (the "Borrower"), (b) PURECYCLE TECHNOLOGIES HOLDINGS CORP., a Delaware Corporation ("Holdings"), (c) PURECYCLE TECHNOLOGIES, LLC, a Delaware limited liability company ("PureCycle LLC"), (d) PURECYCLE AUGUSTA, LLC, a Delaware limited liability company ("PureCycle Augusta" and, together ...

EXHIBIT 10.1 TENTH AMENDMENT TO CREDIT AGREEMENT This TENTH AMENDMENT TO CREDIT AGREEMENT, dated as of November 4, 2025 (this "Amendment"), is entered into by and among (a) PURECYCLE TECHNOLOGIES, INC., a Delaware corporation (the "Borrower"), (b) PURECYCLE TECHNOLOGIES HOLDINGS CORP., a Delaware Corporation ("Holdings"), (c) PURECYCLE TECHNOLOGIES, LLC, a Delaware limited liability company ("PureCycle LLC"), (d) PURECYCLE AUGUSTA, LLC, a Delaware limited liability company ("PureCycle Augusta" and, together ...

Financial Performance - Prothena reported a net loss of $36.5 million for Q3 2025, compared to a net loss of $59.0 million in Q3 2024, and a net loss of $222.5 million for the first nine months of 2025, compared to $64.4 million in the same period of 2024[12]. - Total revenue for Q3 2025 was $2.4 million, up from $1.0 million in Q3 2024, and $9.7 million for the first nine months of 2025, down from $133.0 million in the same period of 2024[13]. - Collaboration revenue for Q3 2025 was $2,415,000, a significant increase from $970,000 in Q3 2024, representing a growth of 149.4%[24]. - Total revenue for the nine months ended September 30, 2025, was $9,663,000, down from $133,034,000 in the same period of 2024, indicating a decline of 92.7%[24]. - The net loss for Q3 2025 was $36,541,000, an improvement from a net loss of $59,001,000 in Q3 2024, showing a reduction of 38.0%[24]. - Basic and diluted net loss per ordinary share for Q3 2025 was $0.68, an improvement from $1.10 in Q3 2024[24]. Expenses - Research and development (R&D) expenses decreased to $28.9 million in Q3 2025 from $50.7 million in Q3 2024, and to $120.3 million for the first nine months of 2025 from $172.3 million in the same period of 2024[14]. - General and administrative (G&A) expenses decreased to $13.2 million in Q3 2025 from $16.8 million in Q3 2024, and to $46.7 million for the first nine months of 2025 from $50.4 million in the same period of 2024[15]. - Research and development expenses for Q3 2025 were $28,938,000, compared to $50,723,000 in Q3 2024, reflecting a decrease of 42.9%[24]. - The company reported restructuring costs of $479,000 in Q3 2025, while there were no such costs reported in Q3 2024[24]. Cash Position - Prothena's cash position at the end of Q3 2025 was $331.7 million, with no debt[17]. - Cash and cash equivalents decreased to $330,843,000 as of September 30, 2025, compared to $471,388,000 at the end of 2024, a decline of 29.8%[25]. - The company expects to end 2025 with approximately $298 million in cash, driven by an estimated net loss of $240 to $248 million for the year[19]. Assets and Liabilities - Total assets decreased to $352,628,000 as of September 30, 2025, down from $547,108,000 at the end of 2024, a decline of 35.5%[25]. - Total liabilities were $57,639,000 as of September 30, 2025, slightly down from $60,182,000 at the end of 2024, a decrease of 2.6%[25]. - Total current liabilities increased to $51,436,000 as of September 30, 2025, compared to $48,501,000 at the end of 2024, an increase of 4.0%[25]. Clinical Developments - Prothena has the potential to earn up to $105 million in aggregate clinical milestone payments by the end of 2026 related to the advancement of coramitug and PRX019[4]. - Novo Nordisk initiated the Phase 3 CLEOPATTRA clinical trial for coramitug, and Roche plans to initiate the Phase 3 PARAISO clinical trial for prasinezumab by the end of 2025[4]. - Bristol Myers Squibb obtained Fast Track designation from the U.S. FDA for BMS-986446, currently in a Phase 2 trial with primary completion expected in the first half of 2027[4]. Corporate Actions - Prothena will convene an Extraordinary General Meeting on November 19, 2025, to seek shareholder approval for a proposal to reduce share capital to support a potential share redemption program in 2026[20].

Financial Performance - Total revenues for the three months ended September 30, 2024, were $271.7 million, a 67% increase compared to the same period last year[7]. - Total performance fees reached $86.9 million for the quarter, representing a 175% increase year-over-year[7]. - Net income for the quarter was $53.1 million, a significant recovery from a net loss of $287.2 million in the same quarter last year[7]. - Total revenues for the three months ended September 30, 2025, were $454.225 million, a 67.2% increase from $271.677 million in the same period of 2024[18]. - Management and advisory fees, net, increased to $215.489 million for the three months ended September 30, 2025, compared to $184.758 million in the same period of 2024, reflecting a growth of 16.6%[18]. - Total carried interest allocations for the three months ended September 30, 2025, reached $206.691 million, significantly up from $69.847 million in the same period of 2024, marking a 195.5% increase[18]. - Total revenues for the six months ended September 30, 2024, were $271,677,000, with adjusted revenues of $208,788,000[27]. - Adjusted net income (ANI) for the six months ended September 30, 2025, was $115.2 million, compared to $110.8 million in the previous year[56]. - Total performance fees for the six months ended September 30, 2025, amounted to $391.9 million, up from $95.3 million in the previous year[52]. Assets Under Management - StepStone Group reported total capital of approximately $771 billion, including $209 billion in assets under management as of September 30, 2025[4]. - Assets under management (AUM) increased to $176.1 billion, reflecting a 19% growth compared to the previous year[7]. - Fee-earning AUM increased to $132.8 million as of September 30, 2025, reflecting a 27% increase year-over-year[61]. - Total assets under management (AUM) increased to $209,147 million by June 30, 2025, marking a 19% growth from the prior quarter[65]. - The company reported a total of $283,034 million in AUA for private equity, an 11% increase from the previous quarter[65]. Dividends - The company declared a quarterly cash dividend of $0.28 per share of Class A common stock, payable on December 15, 2025[1]. - The company declared a quarterly dividend of $0.24 per share, consistent with the previous quarter, and a supplemental dividend of $0.40 per share, marking a 167% increase from the prior year[7]. Strategic Focus and Client Base - StepStone focuses on providing customized investment solutions and advisory services across private equity, infrastructure, private debt, and real estate asset classes[4]. - StepStone's clients include large public and private pension funds, sovereign wealth funds, and high-net-worth individuals[4]. - StepStone's strategic focus includes developing private markets portfolios tailored to client objectives[4]. Financial Transparency and Reporting - The financial results are supplemented by non-GAAP measures such as fee revenues and adjusted net income, which are not calculated in accordance with GAAP[6]. - The company is committed to providing detailed financial information and reconciliations for non-GAAP measures to enhance transparency[6]. - The company emphasizes the importance of understanding the risks and uncertainties that could affect future performance, as outlined in their annual report[5]. - StepStone's management anticipates continued growth and successful execution of business strategies, although future results are inherently uncertain[5]. Shareholder Information - The weighted-average diluted shares increased by 13% year-over-year to 69.7 million shares[7]. - The weighted-average shares of Class A common stock for the three months ended September 30, 2025, were 78,561,587, an increase from 68,772,051 in the same period of 2024[18]. - The company reported a basic weighted-average share count of 78.2 million for the three months ended September 30, 2025[56]. Compensation and Expenses - The company reported accrued compensation and benefits of $1.826 billion as of September 30, 2025, compared to $736.695 million as of March 31, 2025[15]. - GAAP cash-based compensation for the six months ended September 30, 2024, was $82,871,000, with adjusted cash-based compensation of $82,586,000[33]. - GAAP general, administrative, and other expenses for the six months ended September 30, 2024, were $50,061,000, with adjusted expenses of $28,161,000[33]. Performance Fees and Earnings - Fee-related earnings (FRE) for the quarter were $72.3 million, with a FRE margin of 39%[7]. - Adjusted revenues for the six months ended September 30, 2024, were $429.9 million, a 35% increase year-over-year[7]. - Gross realized performance fees for the quarter were $23.3 million, a 178% increase compared to the same period last year[7]. - The FRE (Fee-Related Earnings) for the three months ended September 30, 2025, was $78,633, down from $81,246 in the previous quarter, representing a decrease of 3.0%[38]. - Performance fee-related earnings (PRE) for the six months ended September 30, 2025, reached $46.9 million, an increase from $36.3 million in the previous year[52].

Financial Performance - Research and development expenses for Q3 2025 were $17.9 million, down from $47.8 million in Q3 2024, primarily due to the discontinuation of the BEACON-IPF trial[6] - General and administrative expenses decreased to $10.3 million in Q3 2025 from $14.3 million in Q3 2024, attributed to lower personnel-related costs from workforce restructuring[6] - The net loss for Q3 2025 was $26.3 million, a reduction from $57.8 million in the same quarter last year, mainly due to the discontinuation of BEACON-IPF and reduced personnel costs[6] - Total operating expenses for Q3 2025 were $28.3 million, significantly lower than $62.0 million in Q3 2024[11] Cash and Assets - As of September 30, 2025, the company had cash, cash equivalents, and short-term investments totaling $243.3 million[6] - The total assets as of September 30, 2025, were $276.6 million, down from $396.9 million at the end of 2024[13] Clinical Trials - The Phase 1 trial of PLN-101095 in solid tumors has completed enrollment, with interim data showing a 50% objective response rate in one of the dose cohorts[3] - Close out activities for the BEACON-IPF Phase 2b/3 clinical trial are expected to be completed in Q4 2025, with full results to be submitted for future publication[4] Strategic Initiatives - The company is evaluating a range of opportunities to create shareholder value moving forward[3] - The company completed a voluntary prepayment of all outstanding principal and interest under the March 11, 2024 Loan Agreement with Oxford Finance LLC in October 2025[5]

Revenue and Sales Performance - Revenue increased 6% to $13.4 million compared to Q3 2024, up from $12.7 million[7] - System-wide sales reported at $127.3 million, a decline of 1.5% year-over-year[5] - Comp sales decreased by 2.0%[5] - Total revenues for the three months ended September 30, 2025, increased to $13,380,685, up 5.7% from $12,654,396 in the same period of 2024[28] - System-wide sales guidance for 2025 updated to range from $530 million to $534 million[19] - Comp sales guidance for 2025 revised to a range of (1)% to 0%[19] Net Income and Profitability - Net income improved to $855,000 from a net loss of $3.2 million in Q3 2024[9] - Net income for the nine months ended September 30, 2025, was $1,916,168, compared to a net loss of $5,814,558 for the same period in 2024[30] - Net income for Q3 2025 was $290,370, a decrease from $564,639 in Q3 2024, reflecting a significant decline in profitability[33] - For the nine months ended September 30, 2025, the net loss was $(1,205,286), an improvement from a net loss of $(2,523,325) in the same period of 2024[33] Cash and Liquidity - Unrestricted cash was $29.7 million as of September 30, 2025, compared to $25.1 million at the end of 2024[11] - Cash and cash equivalents increased to $29,699,953 as of September 30, 2025, from $25,051,355 as of December 31, 2024, representing a growth of 10.6%[26] Expenses and Costs - Adjusted EBITDA increased 36% to $3.3 million from $2.4 million in Q3 2024[10] - Adjusted EBITDA for Q3 2025 was $1,408,903, compared to $1,893,201 in Q3 2024, indicating a decrease of approximately 25.5% year-over-year[33] - For the nine months ended September 30, 2025, adjusted EBITDA was $1,543,346, a decrease from $9,396,285 in the same period of 2024, reflecting operational challenges[33] - Restructuring costs for Q3 2025 amounted to $355,042, compared to a credit of $(25,000) in Q3 2024, highlighting increased restructuring efforts[33] - Litigation expenses for Q3 2025 were $100,000, while in Q3 2024, they were $250,000, showing a reduction in legal costs[33] - The company reported net interest expense of $(253,277) in Q3 2025, compared to $(83,828) in Q3 2024, indicating a rise in interest costs[33] - Depreciation and amortization expense for Q3 2025 was $446,736, up from $345,835 in Q3 2024, reflecting increased asset depreciation[33] - Costs related to restatement filings were $113,477 in Q3 2025, with no such costs reported in Q3 2024, indicating ongoing financial adjustments[33] - The company recorded a net loss on disposition or impairment of $860,598 in Q3 2025, compared to $3,581 in Q3 2024, suggesting significant asset write-downs[33] Assets and Liabilities - Total current liabilities decreased to $33,048,677 as of September 30, 2025, down from $49,042,087 as of December 31, 2024, a reduction of 32.6%[26] - Total assets decreased to $69,385,481 as of September 30, 2025, from $83,154,408 as of December 31, 2024[26] Franchise and Clinic Operations - Franchise fees for the three months ended September 30, 2025, rose to $964,796, a 38.3% increase from $697,688 in the same period of 2024[28] - New clinic openings guidance remains at 30 to 35 for 2025[19] - The company has authorized an additional $12 million for its stock repurchase program[7]

Financial Performance - Curis reported an accumulated deficit of $1.3 billion as of September 30, 2025, with a net loss of $26.9 million for the nine months ended September 30, 2025[115]. - The company expects to generate significant revenues to achieve profitability, but does not anticipate profitability in the foreseeable future[117]. - As of September 30, 2025, the company reported an accumulated deficit of approximately $1.3 billion, indicating significant financial challenges[158]. - Cash used in operating activities decreased to $20.8 million for the nine months ended September 30, 2025, down from $30.3 million in the same period of 2024, reflecting reduced operating expenses[155]. - The company expects to incur substantial operating losses as it continues to develop and commercialize emavusertib, which could impact its financial condition[162]. Cash and Funding - The company has $9.1 million in cash and cash equivalents as of September 30, 2025, which is expected to fund operations into the first quarter of 2026[116]. - The company had cash and cash equivalents of $9.1 million as of September 30, 2025, which is expected to fund operations into the first quarter of 2026[159]. - Cash provided by financing activities was $9.9 million for the nine months ended September 30, 2025, primarily from the March and July 2025 offerings[157]. - The Put/Call Price related to the Oberland Purchase Agreement was approximately $103.8 million as of September 30, 2025, indicating potential future financial obligations[153]. - The company may need to explore strategic alternatives, including partnerships or asset sales, to secure additional funding[160]. Research and Development - Emavusertib is being evaluated in multiple clinical trials, including the TakeAim Lymphoma Phase 1/2 study and the TakeAim Leukemia Phase 1/2 study, with preliminary data provided in December 2023[109][111]. - Research and development expenses are primarily focused on the development of emavusertib, with a need for additional financing to support operations[122]. - The company expects a majority of its research and development expenses for the foreseeable future will be incurred in connection with advancing emavusertib, including clinical and preclinical development costs[139]. - Research and development expenses decreased by $7.2 million, or 24%, in the nine months ended September 30, 2025, primarily due to lower employee-related, clinical, consulting, research, manufacturing, and facility costs[138]. - The successful development and commercialization of emavusertib is highly uncertain, with significant risks and costs associated with regulatory approvals and clinical trials[126]. Clinical Trials and Collaborations - Emavusertib has received Orphan Drug Designation from the FDA for the treatment of PCNSL, AML, and MDS, and from the European Commission for PCNSL[107]. - Curis plans to initiate a new clinical study of emavusertib in combination with a commercially approved BTK inhibitor for frontline CLL, with data expected in Q4 2026[110]. - Curis has entered into a collaboration agreement with Genentech for the commercialization of Erivedge, which is approved for advanced basal cell carcinoma[113]. Revenue and Expenses - Revenues, net increased by $0.2 million, or 8%, in the three months ended September 30, 2025, compared to the same period in 2024, and increased by $0.7 million, or 10%, for the nine months ended September 30, 2025[135]. - Research and development expenses decreased by $3.3 million, or 34%, in the three months ended September 30, 2025, primarily due to lower clinical, employee-related, manufacturing, research, and consulting costs[137]. - General and administrative expenses decreased by $0.1 million, or 3%, in the three months ended September 30, 2025, primarily attributable to lower employee-related costs[140]. - Other income (expense) decreased by $1.3 million, or 269%, in the three months ended September 30, 2025, primarily due to an increase in the expense related to the sale of future royalties[142]. - General and administrative expenses decreased by $2.3 million, or 17%, in the nine months ended September 30, 2025, primarily due to lower employee-related, legal, insurance, and consulting costs[141]. Stock and Share Issuance - The company did not sell any shares of common stock under the 2024 Sales Agreement during the nine months ended September 30, 2025, leaving $98.8 million of shares available for sale[146]. - In March 2025, the company raised approximately $8.8 million from the issuance of 1,974,432 shares of common stock and warrants to purchase up to 10,500,891 additional shares[149]. - In July 2025, the company raised approximately $6.1 million from the issuance of 1,538,460 shares of common stock and warrants to purchase up to 4,615,382 additional shares[150].

Financial Performance - Total revenue for Q3 2025 was $223.6 million, representing a 122% increase year-over-year, but a 1% decrease compared to Q2 2025[4] - Service revenue reached $190.0 million, up 132% year-over-year, while equipment revenue was $33.6 million, an 80% increase year-over-year[4] - Adjusted EBITDA for the quarter was $56.2 million, a 61% increase compared to Q3 2024, but a 9% decrease from Q2 2025[6] - Net loss for Q3 2025 was $1.9 million, which included a $15 million pre-tax acquisition-related earn-out accrual[4] - Total revenue for Q3 2025 reached $223,585,000, a significant increase from $100,529,000 in Q3 2024, representing a growth of 122%[22] - Service revenue for the nine months ended September 30, 2025, was $582,533,000, up from $245,459,000 in the same period of 2024, marking a 137% increase[22] - Business aviation service revenue accounted for $162,622,000 in Q3 2025, compared to $81,857,000 in Q3 2024, reflecting a growth of 99%[28] - Operating income for the nine months ended September 30, 2025, was $99,891,000, compared to $75,426,000 in the same period of 2024, an increase of 32%[22] - The company reported a net loss of $1,930,000 for Q3 2025, compared to a net income of $10,630,000 in Q3 2024[22] - Adjusted EBITDA for the three months was $56.2 million, up from $34.8 million in the same period of 2024[36] - Free cash flow for the three months was $30.6 million, compared to $24.6 million in the same period of 2024[36] Cash Flow and Assets - Free Cash Flow for Q3 2025 was $30.6 million, up from $24.6 million in the prior-year period[6] - Cash and cash equivalents at the end of Q3 2025 were $133,572,000, up from $41,765,000 at the end of Q4 2024[24] - Total current assets increased to $423,608,000 as of September 30, 2025, compared to $323,093,000 at the end of Q4 2024, a growth of 31%[24] - The company expects full-year free cash flow to range between $60 million and $90 million for FY 2025[37] Product Development and Launches - Year-to-date shipments of Gogo's new Low Earth Orbit HDX antenna exceeded 200 as of November 4, 2025[4] - Gogo completed 19 HDX Supplemental Type Certificates out of a total of 40 under contract, indicating progress in product development[6] - The company confirmed a year-end 2025 launch for its new high-speed 5G Air-to-Ground network[4] Aircraft and Connectivity - Total AVANCE ATG aircraft online grew to 4,890, a 12% increase compared to September 30, 2024[6] - The number of ATG aircraft online increased to 6,529, compared to 7,016 in the previous year, with AVANCE aircraft online at 4,890[30] - Average monthly connectivity service revenue per ATG aircraft was $3,407, slightly down from $3,497 in the previous year[30] - The number of ATG units sold in the three months was 437, compared to 214 in the same period of 2024[30] Costs and Liabilities - Cost of service revenue increased significantly to $91.6 million, a 380.8% increase from $19.1 million year-over-year[33] - The total liabilities as of September 30, 2025, were $1,188,146,000, compared to $1,159,907,000 at the end of Q4 2024[24] - The company incurred interest expense of $50,650,000 for the nine months ended September 30, 2025, compared to $26,193,000 in the same period of 2024, an increase of 93%[22]

Financial Performance - Total revenues for the three months ended September 30, 2025, increased to $2,128 million, up from $1,956 million in the same period of 2024, representing a growth of 8.8%[20] - Net income for the three months ended September 30, 2025, was $272 million, compared to $98 million for the same period in 2024, reflecting a significant increase of 177.6%[21] - Basic earnings per share for the three months ended September 30, 2025, were $1.82, compared to $1.00 for the same period in 2024, an increase of 82%[21] - For the nine months ended September 30, 2025, Voya Financial achieved a net income of $514 million, contributing to a total comprehensive income of $1,231 million[28] - The company reported net investment income of $583 million for the three months ended September 30, 2025, compared to $506 million in the same period of 2024, a growth of 15.2%[21] - The total comprehensive income for the three months ended September 30, 2025, was $561 million, compared to $869 million for the same period in 2024[23] - The company reported a net income of $584 million for the nine months ended September 30, 2025, compared to $621 million for the same period in 2024, indicating a decrease of 6%[169] Assets and Liabilities - Total assets as of September 30, 2025, amounted to $177,448 million, an increase from $163,889 million as of December 31, 2024, indicating a growth of 8.2%[18] - The total liabilities as of September 30, 2025, were $170,365 million, an increase from $157,882 million as of December 31, 2024, reflecting a growth of 7.9%[19] - As of September 30, 2025, Voya Financial reported total shareholders' equity of $6,862 million, with retained earnings showing a deficit of $1,778 million[29] - The balance of noncontrolling interest as of September 30, 2025, was $221 million[29] - The company reported reinsurance recoverable balances of $10.845 billion, net of allowance for credit losses[139] Investment Activities - The company reported net cash used in investing activities of $997 million, compared to net cash provided of $504 million in the same period of 2024[37] - The company acquired OneAmerica Financial's full-service retirement plan business for approximately $50 million in cash, with contingent consideration of up to $160 million payable in 2026[40] - The total investment income for the nine months ended September 30, 2025, was $1,727 million, up from $1,553 million in the same period of 2024[78] - The company reported a gross investment income of $605 million for the three months ended September 30, 2025, compared to $528 million in the same period of 2024[78] Shareholder Activities - The company issued common stock worth $5 million during the nine-month period, while repurchasing shares totaling $100 million[28] - Dividends on common stock amounted to $130 million for the nine months ended September 30, 2025[28] - The company declared dividends of $0.45 per share for the three months ended September 30, 2025, and $1.35 per share for the nine months ended September 30, 2025, compared to $1.25 for the same period in 2024[164] - The company repurchased a total of 1,345,732 shares of common stock during the nine months ended September 30, 2025, with a payment of $100 million for the initial shares and additional shares delivered[167] Comprehensive Income - The company’s accumulated other comprehensive income improved to $(1,778) million as of September 30, 2025, from $(2,462) million as of December 31, 2024[19] - Total comprehensive income for the three months ended September 30, 2025, was $561 million, compared to $869 million for the same period in 2024[23] - The accumulated other comprehensive income (loss) as of September 30, 2025, was $(1,778) million, slightly improved from $(1,812) million in the previous year[171] Segment Performance - The Retirement segment provides tax-deferred, employer-sponsored retirement plans and administrative services, contributing significantly to the company's overall performance[146] - The company will continue to operate through three segments: Retirement, Investment Management, and Employee Benefits, with a focus on enhancing performance metrics[145] Tax and Regulatory Matters - The effective tax rate for the three months ended September 30, 2025, was 11.4%, significantly lower than the statutory rate of 21% due to dividends received deduction and tax credits[176] - The Company expects no material impact from the One Big Beautiful Bill Act signed into law in July 2025[182] Fair Value Measurements - As of September 30, 2025, total assets measured at fair value amount to $144.621 billion, with $109.084 billion classified as Level 1 assets[95] - The fair value of U.S. corporate public securities is $7.769 billion, with $7.706 billion classified as Level 2[95] - The Company utilizes third-party commercial pricing services for fair value measurements, ensuring compliance with ASC Topic 820[99] Litigation and Claims - The Company continues to deny allegations in the Ravarino case, which involves claims of breach of fiduciary duties related to the Voya 401(k) Savings Plan[202] - The Company believes that the outcome of pending litigation and regulatory matters is unlikely to have a material adverse effect on its financial position[199]