Wesco International Q1 2026 Investor Presentation Forward-Looking Statements and Non-GAAP Measures All statements made herein that are not historical facts should be considered as "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Such statements involve known and unknown risks, uncertainties and other factors that may cause actual results to differ materially. These statements include, but are not limited to, statements regarding business strategy, grow ...

一种新的板块配对交易策略正在华尔街兴起， "做多能源+做空可选消费"组合取代了科技股多年来的主导地位，成为当前最具吸引力的板块交易之一。 彭博宏观策略师Simon White日前撰文称，今年以来，在油价反弹的推动下， 美国能源股上涨超过20%，表现优于包括科技股在内的所有其他板块 。与此同 时， 投资者正在做空可选消费板块。该板块包括亚马逊和特斯拉等非AI核心企业，以及传统零售股。 12月零售销售数据疲软引发了对消费者健康状况的担忧，而玩具制造商美泰发布疲弱盈利预期后，其股价创下自1999年以来最大单日跌幅，进一步打击了市场 情绪。 数据显示， 可选消费股的空头持仓比率增幅已超过科技股，而能源股的空头持仓比率则降至近一年来的最低水平附近 。分析认为，这一趋势反映出投资者对 不同板块前景的重新评估，以及在通胀环境下对实物资产配置的偏好转变。 因此，投资者并未大举做空AI开发商，而是将做空目标锁定在可选消费类股票上。 这一类别不仅包括亚马逊和特斯拉等非纯粹AI开发商，还涵盖了标准的零售股。市场情绪受到具体数据的打击： 12月零售销售表现疲软，引发了外界对消费者健康状况的担忧；美泰（Mattel）因发布疲弱的盈利预 ...

Corporate Governance Roadshow 2026 Richard Ridinger, Chairman of the Supervisory Board February 2026 INTAG Governance Update Supervisory Board Elections & Remuneration System The Supervisory Board is a highly qualified and experienced team with diverse backgrounds Richard Ridinger – Chair of the Supervisory Board Wijnand P. Donkers Not standing for re-election Suja Chandrasekaran ■ Int. experience: Positions in USA and Brazil Ulrich M. Harnacke Standing for re-election Susanne Wiegand Dominik de Daniel ■ In ...

Santos Limited has secured a legal victory after the Full Federal Court of Australia dismissed a climate-related case challenging aspects of its past disclosures and ordered costs in the company’s favor. The case, brought by the Australasian Centre for Corporate Responsibility (ACCR), targeted statements made in Santos’s 2020 Annual Report, 2021 Climate Change Report, and a 2020 Investor Day presentation. At issue were elements of the company’s 2040 Net Zero Roadmap and related climate commitments, with A ...

Financial Data and Key Metrics Changes - Adjusted EBITDA increased by 31% to INR 74.8 billion for the nine months ending December 31, 2026, with a more than sixfold increase in profit after tax [8][9] - Revenue increased by 48% for the first nine months of the fiscal year compared to the previous year, driven by an increase in megawatts and contributions from the manufacturing business [17] - Headline leverage decreased from 8.2x in December 2024 to 7x debt to EBITDA currently, and is expected to reach 6.7x excluding contributions from joint venture partners [18] Business Line Data and Key Metrics Changes - Operating capacity increased from 10.7 GW to 11.8 GW, a 19% increase after adjusting for the sale of 900 MW of assets [5][17] - The manufacturing business contributed INR 10.8 billion to adjusted EBITDA for the first nine months [9][15] - The company sold 300 MW of solar assets this quarter, bringing total asset sales for the year to 600 MW [19] Market Data and Key Metrics Changes - The financing environment remains favorable, with interest rates on a downward trend, benefiting the company's capital structure [4] - Electricity demand has shown signs of recovery, with expectations for power demand to return to normal levels in fiscal 2027 [5] Company Strategy and Development Direction - The company is shifting focus from wind projects to more battery energy storage systems (BESS) and solar capacity to reduce capital expenditure and execution risk [7][13] - The strategic pivot aims to optimize cash flows and reduce volatility in revenues due to weather patterns [7][13] - The company plans to construct between 1.8 GW and 2.4 GW in the fiscal year ending March 31, 2026, up from previous guidance [27] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about macroeconomic conditions, citing a recent trade deal between India and the U.S. that is expected to benefit the economy [4] - The company is focused on improving balance sheet strength and reducing leverage further, with a target leverage ratio of 5.5x by 2028-2030 [73] Other Important Information - The company received an A grade rating from LSEG and a score of 90.41 out of 100, placing it in the top quartile globally for ESG performance [10][24] - The company has achieved water positive certification for two sites, marking significant progress in sustainability initiatives [10][25] Q&A Session Summary Question: Can you elaborate on the revised strategy towards more solar and BESS projects? - The decision to decrease wind capacity was driven by lower costs of BESS and solar, improved ability to firm up power, and execution challenges associated with wind projects [30][32] Question: What is the update on the take-private strategy? - The company cannot comment on specifics regarding privatization discussions, stating that any necessary disclosures will be made at the appropriate time [36] Question: Are there improvements in transmission project delays and curtailment? - There is increased visibility and discussion within government ministries to address these issues, with recognition that curtailment losses should be shared among stakeholders [40][42] Question: What is the current status of TGNA capacity and associated curtailment? - Approximately 400 MW to 500 MW is currently under TGNA, with some degree of curtailment expected, but compensation is received for projects with permanent GNA [63][65] Question: How is the manufacturing business performing in terms of margins? - Margins have held up well, with a temporary lull during monsoons, but demand appears to be stable currently [44]

Financial Data and Key Metrics Changes - Adjusted EBITDA increased by 31% to INR 74.8 billion for the nine months ending December 31, 2026, with a more than sixfold increase in profit after tax [8][9] - Revenue increased by 48% for the first nine months of the fiscal year compared to the previous year, driven by increased megawatts and contributions from the manufacturing business [17] - Headline leverage decreased from 8.2x in December 2024 to 7x debt to EBITDA currently, with a trailing twelve-month EBITDA leverage of approximately 5.6x [18] Business Line Data and Key Metrics Changes - Operating capacity increased from 10.7 gigawatts to 11.8 gigawatts, a 19% increase after adjusting for the sale of 900 megawatts [5][17] - Manufacturing business contributed INR 10.8 billion to Adjusted EBITDA for the first nine months, with an external order book of 900 MW [15] - The company sold 300 MW of solar assets this quarter, totaling 600 MW for the year, raising $275 million through capital recycling [19] Market Data and Key Metrics Changes - Electricity demand in India rebounded sharply in December 2026, with expectations for power demand to return to normal levels in fiscal 2027 [5] - The financing environment remains favorable, with interest rates on a downward trend, benefiting the overall economic outlook [4] Company Strategy and Development Direction - The company is shifting focus from wind projects to more battery energy storage systems (BESS) and solar capacity to lower execution risk and improve cash flow predictability [7][13] - The strategic pivot aims to reduce capital expenditure and enhance revenue predictability, with a focus on balance sheet strength and reducing leverage [13][26] - The company plans to construct between 1.8 and 2.4 GW in the fiscal year ending March 31, 2026, with increased guidance for Adjusted EBITDA [26] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about India's growth projections remaining above 7% for fiscal 2026 and 2027, aided by a recent trade deal with the U.S. [4][5] - There is recognition of systemic issues in the industry, such as transmission project delays and curtailment, with ongoing discussions with government ministries to address these challenges [39][40] Other Important Information - The company received an A grade rating from LSEG and a score of 90.41 out of 100, placing it in the top quartile globally for ESG performance [10][23] - The company has achieved water positivity certification for two sites, marking significant progress in sustainability initiatives [24] Q&A Session Summary Question: Can you elaborate on the revised strategy towards more solar and BESS projects? - Management explained that the decision to decrease wind capacity was driven by lower costs of BESS and solar, improved execution ease, and historical performance issues with wind [29][30] Question: What is the update on the take-private strategy? - Management stated that they cannot comment on specific topics regarding privatization and will disclose any relevant information as necessary [35] Question: Are there improvements in transmission project delays and curtailment? - Management acknowledged ongoing discussions with government ministries to address these issues, recognizing them as systemic losses that should not solely impact developers [39][40] Question: How is the manufacturing segment performing in terms of margins? - Management indicated that margins have held up well, with a temporary lull during monsoons, but demand has picked up again in the current quarter [43] Question: What is the target leverage ratio and timeline for achieving it? - Management aims to reduce leverage to 5.5x over time, with a target timeframe suggested to be between 2028 and 2030 [71][72]

Financial Data and Key Metrics Changes - Adjusted EBITDA increased by 31% to INR 74.8 billion for the nine months ending December 31, 2026, with a more than sixfold increase in profit after tax [7][18] - Revenue increased by 48% for the first nine months of the fiscal year compared to the previous year, driven by an increase in megawatts and contributions from the manufacturing business [18] - Headline leverage decreased from 8.2x in December 2024 to 7x debt to EBITDA currently, with a trailing twelve-month leverage of approximately 5.6x for the operating portfolio [19][27] Business Line Data and Key Metrics Changes - Operating capacity increased from 10.7 gigawatts to 11.8 gigawatts, a 19% increase after adjusting for the sale of 900 megawatts [5][17] - The manufacturing business contributed INR 10.8 billion to Adjusted EBITDA for the first nine months, with an external order book of 900 MW [9][15] - The company sold another 300 MW of solar assets this quarter, raising a total of $275 million through capital recycling this year [20] Market Data and Key Metrics Changes - The electricity demand in India has shown recovery, with expectations for power demand to return to normal levels in fiscal 2027 [5] - The financing environment remains favorable, with interest rates on a downward trend, benefiting the overall economic outlook [4] Company Strategy and Development Direction - The company is shifting its focus from wind projects to more battery energy storage systems (BESS) and solar capacity to lower capital expenditure and execution risk [6][13] - The strategic path forward includes optimizing the portfolio for lower execution risk and more predictable cash flows, with a focus on balance sheet strength and reducing leverage [13][27] - The company aims to construct between 1.8 and 2.4 GW in the fiscal year ending March 31, 2026, with increased guidance for Adjusted EBITDA [27] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about the macroeconomic environment, citing a recent trade deal between India and the U.S. that is expected to benefit the economy [4] - The company is committed to ESG initiatives, having received high ratings from LSEG and CDP, and aims to maintain leadership in sustainability within the sector [10][24] Other Important Information - The company has achieved water positive certification for two sites and continues to focus on reducing emissions and enhancing sustainability practices [10][25] - The company has been consistently growing its EBITDA at approximately 17% per year since its listing, relying on capital recycling without issuing new equity [12] Q&A Session Summary Question: Can you elaborate on the revised strategy towards more solar and BESS projects? - Management explained that the decision to decrease wind capacity was driven by lower costs for BESS and solar, improved execution capabilities, and historical performance issues with wind [30][33] Question: What is the update on transmission project delays and curtailment? - Management acknowledged these issues and noted that the government is actively working on solutions to improve transmission execution and address curtailment losses [40][41] Question: Are margins in cell manufacturing compressing? - Management indicated that margins have held up well, with a temporary lull during monsoons, but demand remains reasonable [44]

Core Insights - Sonoco Products Company has been recognized on FORTUNE's World's Most Admired Companies™ List, ranking first in Innovation and overall, and third in the Packaging category [1][2] - The company also achieved second place in categories such as use of corporate assets, financial soundness, long-term investment, and global competitiveness [1] Company Recognition - Howard Coker, President and CEO of Sonoco, expressed pride in the company's top ranking in innovation, highlighting the belief that better packaging leads to better lives [2] - FORTUNE's list serves as a report card on corporate reputations, with ratings provided by executives, directors, and analysts based on critical success attributes [2] Leadership and Resilience - The companies at the top of the list demonstrate resilience that is designed rather than reactive, showcasing the ability to sustain trust and credibility over time [4] - These organizations exhibit discipline, adaptability, and leadership necessary for current performance while preparing for future challenges [4] Corporate Responsibility - Sonoco has also been included in Newsweek's 2026 list of America's Most Responsible Companies, which evaluates corporate responsibility across the ESG pillars: Environment, Social, and Corporate Governance [4] Company Overview - Founded in 1899, Sonoco is a global leader in sustainable metal and fiber packaging, operating as a multi-billion-dollar enterprise with approximately 22,500 employees across 265 operations in 40 countries [5] - The company aims to foster a culture of innovation and collaboration to provide solutions that support a sustainable future [5]

Q3 FY26 Results Presentation February 16, 2026 Disclaimer Forward-Looking Statements This press release contains forward-looking statements within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended and the Private Securities Litigation Reform Act of 1995. These forward-looking statements generally are identified by the words "believe," "project," "expect," "anticipate," "estimate," "intend," "strategy," "future," "opportunity," "plan," "may," "should," "will," "would," "will be," ...

Group 1 - The medical industry is increasingly addressing carbon emissions as part of ESG initiatives, with 52 pharmaceutical and biotech companies in A-shares required to disclose their annual carbon emissions within two months [1] - A medical carbon sink demonstration forest covering 148 acres has been established in Changkou Village, Sanming City, which is recognized as the first "carbon ticket" village in China [1][8] - The average carbon emissions for a hospitalized patient is approximately 100 kilograms of CO2, necessitating the planting of three trees to offset this amount [4] Group 2 - The "voluntary carbon neutrality action" in Sanming combines healthcare and carbon sinks, allowing patients to offset their carbon emissions through tree planting and other green actions [3][4] - The carbon emissions from the medical industry are significant, arising from the use of surgical instruments, medical supplies, transportation, and food consumption during patient care [4] - The "medical green carbon index" concept has been proposed to quantify the effectiveness of integrating healthcare with green carbon initiatives by comparing annual carbon sink volumes with total carbon emissions from medical processes [5][6] Group 3 - The 148-acre medical carbon sink forest has an annual carbon sink capacity of 74 tons, with contributions from 26 medical teams and international volunteers [8] - The project aims to create a traceable and verifiable carbon neutrality mechanism, allowing patients to donate carbon sinks through a mini-program, which will be recorded as a "carbon benefit banner" to express gratitude to doctors [7][8] - Sanming City, known for its high forest coverage rate of 77.12%, is leveraging its dual pilot programs in medical and forestry reforms to provide a scientific measurement and authoritative verification platform for national medical carbon neutrality actions [7][8]