Financial Data and Key Metrics Changes - The company reported earnings per share (EPS) of $12.03, which is above the midpoint of the full-year fiscal guidance range [4] - Operating income margin was 23.7%, and return on capital (ROC) was 10.1%, both in line with commitments [4] - The EPS decreased by $0.40 or 3% from the prior year, primarily due to a 4% headwind from LNG divestiture and a 2% headwind from project exits [16][19] Business Line Data and Key Metrics Changes - The Americas segment results were down 3%, impacted by a one-time asset sale and project exits [17] - Asia's results were relatively flat, with lower helium offset by favorable on-site contributions [18] - Europe's results improved by 4%, driven by non-helium merchant pricing and productivity [18] Market Data and Key Metrics Changes - The company faced a 2% headwind from reduced global helium demand, affecting overall volume [14] - Pricing for non-helium merchant products was favorable across all regions, helping to offset some volume declines [14] Company Strategy and Development Direction - The company aims for high single-digit annual EPS growth in 2026, despite anticipated helium headwinds [5] - Key priorities include optimizing the large projects portfolio, particularly the NEOM project, and balancing capital allocation [5][6] - Capital expenditures are expected to be reduced to approximately $2.5 billion per year after completing several large projects [6] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about returning to staffing levels similar to 2018, adjusted for employee growth, to support new assets [7] - The company is focused on improving productivity and pricing actions to counteract inflation and lower capital expenditure levels [8] - Management anticipates a modestly cash flow positive position in fiscal year 2026, with a commitment to remain cash flow neutral through 2028 [20] Other Important Information - The company returned $1.6 billion to shareholders in fiscal 2025, marking the 43rd consecutive year of increasing dividends [4] - The NEOM project is about 90% complete, with ammonia production expected to start in 2027 [11] Q&A Session Summary Question: Evaluation of carbon capture piece of the Louisiana project - Management explained that they are evaluating proposals to divest the carbon capture piece while still considering the project's future [24][25] Question: Cost overruns in Alberta project - Management confirmed a long-term commitment to supply hydrogen to a major customer, necessitating the project's completion despite cost overruns [26][27] Question: Employee headcount target - The target of 20,000 headcount is expected to be the new base, with ongoing efforts to rationalize the workforce [31] Question: CapEx remaining for Louisiana project - Management indicated that they would provide data on remaining CapEx when updating the project, emphasizing the need for off-take agreements [33] Question: Growth drivers for next year - Management expects contributions from new assets and productivity improvements to drive growth, with a focus on pricing actions [37][38] Question: Helium industry outlook - Management noted that while there may be a decline in helium demand in 2027, they expect stabilization thereafter [40][42] Question: NEOM project commercial options - Management stated that they will need to commercialize the product as ammonia initially, with expectations for growth in green ammonia sales over time [46] Question: Equity affiliates income growth - Management highlighted strong performance from the Mexican joint venture, with expectations for flat contributions in fiscal year 2026 [48] Question: Decision timeline for Louisiana project - Management confirmed that they are working on advanced negotiations and expect to communicate updates by the end of the year [52][56] Question: CapEx forecast changes - Management clarified that the CapEx forecast for fiscal 2026 was adjusted to $4 billion based on a refined bottom-up review [62]

Financial Performance - ArcelorMittal reported $4.9 billion in EBITDA for 9M'25[5] - The company's EBITDA margin was $121/t for 9M'25[5], which is 36% higher than the 2012-2019 average of $89/t[5,9] - Adjusted net income reached $2.3 billion, with adjusted EPS at $2.99[5] - Investable cash flow of $21.4 billion has been generated since 2021[56] Strategic Growth & Investments - Strategic growth projects and M&A are expected to increase future EBITDA potential by $2.1 billion, including $0.7 billion in 2025 and $0.8 billion targeted in 2026[5] - The company invested $1.2 billion in strategic growth capex to enhance long-term EBITDA capacity[5] - Strategic projects are delivering targeted EBITDA, with Liberia on track to ship 10Mt of iron ore and achieve $0.2 billion in EBITDA in 2025[5,32] Capital Allocation & Returns - ArcelorMittal has generated investable cash flow of $1.5 billion over the past 12 months[5] - The company returned $0.8 billion to shareholders[5] - Since September 2020, 38% of shares have been repurchased, adding $18/share to book value, which now stands at $72/share[5] Market Outlook & Trade - A new EU steel tariff proposal aims to reduce imports by approximately 10 million tonnes[23] - The proposed tariff framework could increase domestic capacity utilization rates from approximately 65% to a more viable range of 80-85%[25,26] Safety - The Group lost time injury frequency rate (LTIFR) was 0.68[3]

Fiscal Fourth Quarter 2025 Earnings Results Teleconference November 6, 2025 Forward-Looking Statements This presentation contains "forward-looking statements" within the safe harbor provisions of the Private Securities Litigation Reform Act of 1995, including statements about earnings and capital expenditure guidance, business outlook and investment opportunities. These forward-looking statements are based on management's expectations and assumptions as of the date of this presentation and are not guarantee ...

EDP Capital Markets Day 2025 Summary Company Overview - **Company**: EDP (EDP Renováveis) - **Event**: 2025 Capital Markets Day - **Date**: November 06, 2025 Key Industry Insights - **Renewable Energy Demand**: Significant growth in demand for renewable energy, particularly driven by data centers. A specific data center in Portugal is projected to require 1.2 gigawatts, representing 20% of Portugal's energy demand [4][5] - **Electrification Trends**: Demand in Portugal and Spain has grown by over 3% after years of stagnation, indicating a shift towards electrification and increased energy consumption [5][6] - **Investment in Infrastructure**: Approximately 25% of transformers in Portugal are over 40 years old, necessitating a wave of investment in energy networks that will extend beyond 2030 to 2040 [7][19] Financial Commitments and Projections - **Investment Plans**: EDP plans to invest EUR 12 billion, primarily in networks in Iberia and US renewables, with a focus on core markets [10] - **Operational Efficiency**: EDP maintains a strong operational efficiency with 26% OpEx over gross profit, aiming for a net debt reduction of EUR 1 billion [10][11] - **EBITDA Growth**: Projected increase in EBITDA and earnings, with a commitment to maintaining a stable dividend policy [11][54] Regulatory and Market Context - **Regulatory Clarity**: Improved visibility on regulatory frameworks in the US, Portugal, and Spain, including capacity payments expected to be implemented in 2026 for Spain and 2027 for Portugal [9][10] - **Tax Incentives**: Networks in Portugal are now exempt from extraordinary taxes, providing an uplift in returns of about 0.85% [12] Renewable Energy Strategy - **Focus on Renewables**: EDP Renováveis is expected to see significant growth, with a target of 20 gigawatts of generation assets, particularly in North America [29][30] - **Long-term Contracts**: Approximately 70% of EDP's energy will be long-term contracted, with expectations of higher prices for new contracts compared to previous years [33][40] Client Solutions and Market Positioning - **Client Engagement**: EDP has established contracts with major tech companies, securing over 3 gigawatts of power through PPAs [34] - **FlexGen Strategy**: EDP is focusing on flexible generation to adapt to the increasing demand for ancillary services, with expected growth in flexible services between 25% and 28% [27][28] Global Market Focus - **US Market**: EDP is well-positioned in the US, particularly in MISO and PJM regions, where demand from data centers is growing [38] - **European Market**: EDP continues to focus on key markets in Europe, including Italy, France, and Spain, while also exploring opportunities in APAC [44][46] Conclusion - **Strategic Vision**: EDP is committed to a sustainable growth strategy, focusing on renewable energy, operational efficiency, and strong client relationships, with a clear path to achieving its financial and operational goals by 2028 [48][49]

Financial Performance - Underlying operating profit increased by 13% to £2,292 million, compared to £2,026 million in HY25[33] - Underlying EPS increased by 6% to 29.8 pence, compared to 28.0 pence in HY25[33] - Capital investment increased by 12% to £5,052 million, compared to £4,494 million in HY25[33] - Dividend increased by 3.2% to 16.35 pence, compared to 15.84 pence in HY25[33] - Finance costs increased to £678 million, compared to £652 million in HY25[106] - Underlying earnings increased by 16% to £1,470 million, compared to £1,269 million in HY25[106] Strategic Investment and Growth - The company plans for approximately £60 billion in capital investment, with around £51 billion allocated to green initiatives[14] - The company aims for a group asset compound annual growth rate (CAGR) of approximately 10% from FY24 baseline[14] - Over 75% of the £60 billion investment plan is underpinned by delivery mechanisms[18] Business Segments - UK Electricity Distribution underlying operating profit was £551 million[79] and capital investment was £756 million[40] - UK Electricity Transmission underlying operating profit was £846 million[82] and capital investment was £1,684 million[45] - US New York underlying operating profit was £443 million[90] and capital investment was £1,585 million[55] - US New England underlying operating profit was £292 million[95] and capital investment was £958 million[64]

Energy and AI Nexus - The global energy system is at a tipping point, with increasing demand for compute reshaping the industry [1] - Energy ministers from both developing and developed countries are focusing more on electricity rather than oil and gas, driven by the need for electricity for basic needs and the rise of AI [2] Electricity Demand and Shortfall - There is significant pressure on the electricity system, with data centers currently accounting for about 4% of US electricity demand, projected to rise to 10-12% within five years [4] - The US has experienced no growth in electricity demand for 25 years, but this trend is changing due to new demands from various sectors [4] Energy Transition and Investment - The narrative around energy transition is shifting, with a realization that transitioning away from fossil fuels is more complex than previously thought [5][6] - The International Energy Agency has revised its investment needs, now stating that $540 billion per year in new investment in oil and gas is necessary by 2025, a significant change from earlier assessments [10] Climate and Economic Growth - Climate remains a priority, but there is a broader reassessment of energy needs and economic factors influencing the market [12] - The pace of global economic growth is crucial for determining oil prices, with stronger-than-expected growth impacting market dynamics [17] Oil Market Dynamics - Current oil prices are stable around $60, with OPEC adjusting supply based on market conditions and seasonality [13][15] - Key risks to watch include sanctions on Russia and potential measures from the Trump administration affecting India and China, which could influence oil market stability [16][17]

EVERSOURCE ENERGY Q3 2025 EARNINGS REPORT November 5, 2025 EVERSOURCE ENERGY Q3 2025 EARNINGS REPORT EVERSOURCE ENERGY Q3 2025 EARNINGS REPORT Safe Harbor Statement All per-share amounts in this presentation are reported on a diluted basis. The only common equity securities that are publicly traded are common shares of Eversource Energy. The third quarter and first nine months of 2025 and 2024 earnings discussion includes financial measures that are not recognized under generally accepted accounting princip ...

Core Insights - SUNOTEC and Shell Energy Europe have entered into a cross-border agreement to enhance financial mechanisms for battery energy storage system (BESS) development in central Eastern Europe [1][2] - The agreement is linked to SUNOTEC's 600MWh battery energy storage project, which is set to commence commercial operations by Q2 2026 [1][2] Financial Viability - The agreement aims to provide long-term price stability for the BESS project, thereby improving its financial viability and marking one of the first transactions of its kind in the region [2] - For Shell, this deal facilitates diversification of its power portfolio in central Eastern Europe [2] Commitment to Energy Transition - Both companies emphasize their commitment to accelerating the energy transition through collaboration on technology, infrastructure, and financial innovation [2][3] - SUNOTEC's founder and CEO highlighted the importance of partnerships with leading energy players to promote a sustainable energy future [3] Strategic Partnerships - In addition to the agreement with Shell, SUNOTEC has also signed a deal with Sungrow to deploy 2.4GWh of BESS across various solar power projects in Europe [3] - This partnership aligns with SUNOTEC's long-term strategy to integrate adaptable and intelligent energy systems into its solar infrastructure portfolio [4]

Core Viewpoint - Orrön Energy is facing challenges in the third quarter of 2025 due to low pricing and low wind speeds, impacting power generation and financial performance. However, the company is optimistic about future market conditions and growth opportunities from its greenfield projects [5][12]. Financial Performance - For Q3 2025, revenue from power generation was MEUR 3.6, up from MEUR 1.6 in Q3 2024, while total revenue for the first nine months was MEUR 17.4, slightly down from MEUR 18.6 in the same period last year [4]. - Proportionate EBITDA for Q3 2025 was MEUR -2.6, an improvement from MEUR -4.9 in Q3 2024, but still negative due to lower power generation volumes and higher balancing costs [11]. - The company reported a net result of MEUR -8.5 for Q3 2025, compared to MEUR -11.1 in Q3 2024, indicating a reduction in losses year-over-year [4]. Power Generation - Proportionate power generation for the first nine months of 2025 was 574 GWh, with an additional 30 GWh from compensated volumes, totaling 604 GWh. This is lower than the forecast due to low wind speeds and voluntary curtailments [5][8]. - The company has updated its full-year 2025 power generation outlook to between 850 and 900 GWh, including compensated volumes [5][8]. Project Sales and Development - The sale of a 76 MW solar project in Germany for MEUR 4.0 was completed, generating a net profit of MEUR 1.1. This sale marks a significant milestone for the company's development business [5][9]. - The company is actively exploring monetization options for its greenfield projects in Germany and the UK, with expectations for key milestones in late 2025 and 2026 [10]. Market Conditions - The Nordic power markets remain volatile, influenced by structural changes such as the transition to 15-minute settlement periods. Balancing costs have fluctuated but have shown improvement in Q3 2025 [7]. - The company is entering short-term financial hedges to stabilize cash flows and capture potential electricity price increases [6][12].

Company Overview and Strategy - Woodside's 2024 EBITDA margin was approximately 70%[21] - Woodside has returned approximately $11 billion to shareholders since 2022[21] - Woodside aims to increase annual sales from 2035 MMboe in 2024 to over 300 MMboe by 2032, representing a CAGR increase of over 6%[22] - Woodside projects net operating cash flow to increase from approximately $58 billion in 2024 to approximately $9 billion in 2032, representing a CAGR increase of over 6%[22] Projects and Operations - Scarborough is 91% complete and on track for first LNG in H2 2026[175] - The Scarborough development contains 115 Tcf of proved plus probable (2P) reserves, gross[176] - Trion is 43% complete with first oil targeted for 2028, holding 479 MMboe of proved plus probable (2P) reserves, gross[219] - Louisiana LNG is 19% complete with first LNG targeted for 2029, with a project cost of approximately $159 billion or approximately $960/tonne[223, 225] Market Outlook and Financials - Global ammonia demand is expected to double to over 400 Mtpa by 2050[98] - Woodside is targeting a unit production cost of less than $8/boe in 2025[157] - Woodside is targeting a gearing range of 10-20% through the cycle[138]