Q4 & FY 2025 EARNINGS 2026 GUIDANCE NYSE American: REI www.ringenergy.com www.ringenergy.com Forward-Looking Statements and Supplemental Non-GAAP Financial Measures Forward – Looking Statements This Presentation includes forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. All statements, other than statements of historical fact included in this Presentation, regarding our strategy, future ...

Core Insights - Ring Energy reported strong operational and financial results for 2025, despite an 18% decline in realized prices year-over-year, demonstrating effective strategic adjustments [4][6]. Fourth Quarter 2025 Highlights - Average daily sales volumes were 20,508 Boe/d, a 3% increase year-over-year [8]. - The company reported a net loss of $12.8 million, or $(0.06) per diluted share, which included a $35.9 million non-cash ceiling test impairment [8]. - Adjusted Free Cash Flow was $5.7 million, maintaining positive cash flow for the 25th consecutive quarter [8]. - Lease Operating Expenses (LOE) were reduced to $10.02 per Boe, 7% below the low end of guidance [8]. - Capital expenditures were $24.3 million, within guidance [8]. Full Year 2025 Highlights - Ring Energy generated a record Adjusted Free Cash Flow of $50.1 million, a 15% increase year-over-year [6]. - Proved reserves increased by 14% to 153.3 MMBoe, with 169% of 2025 production replaced organically [5][19]. - The company paid down $40 million of debt since the Lime Rock acquisition [6]. - Capital expenditures decreased by 35% year-over-year to $98.2 million [8]. 2026 Outlook - The company plans to maintain production and reduce debt at a $60 oil price, with potential acceleration of debt reduction if prices exceed $60 [6]. - Sales volumes for 2026 are projected to be approximately flat compared to the previous year, with a production midpoint of 20,150 Boe/d [8][17]. - The capital spending program for 2026 is estimated at $100 to $130 million, with a focus on drilling new horizontal wells [18]. Year-End 2025 Proved Reserves - Year-end 2025 proved reserves were comprised of approximately 59% crude oil, 19% natural gas, and 22% natural gas liquids [21]. - The PV-10 value at year-end 2025 was $1,318.2 million, down from $1,462.8 million at the end of 2024 [22]. Financial Performance Metrics - Revenues for Q4 2025 were $66.9 million, a 15% decrease from Q3 2025 [9]. - Adjusted EBITDA for FY 2025 was $184 million, a 21% decrease year-over-year [9]. - Interest expense decreased by 10% to $9.1 million in Q4 2025 [10]. Drilling and Completion Activity - In Q4 2025, the company completed four wells, contributing to a total of 18 wells drilled and completed for the year [13][14]. Balance Sheet and Liquidity - Total liquidity at December 31, 2025, was $165.9 million, consisting of cash and cash equivalents of $0.9 million and $165 million available under the revolving credit facility [10][11]. - The company had $420 million in borrowings outstanding on its revolving credit facility, with a borrowing base of $585 million [11].

Core Insights - Talen Energy Corporation reported its fourth quarter and full year 2025 financial results, highlighting significant growth in Adjusted EBITDA and Free Cash Flow, alongside strategic acquisitions to enhance its generation capacity and cash flow diversification [2][3][4]. Financial Performance - For the year ended December 31, 2025, Talen reported a GAAP Net Loss of $219 million, with an Adjusted EBITDA of $1,035 million, and Adjusted Free Cash Flow of $524 million, marking increases from the previous year [6][7]. - Adjusted EBITDA increased by $265 million compared to 2024, primarily driven by higher capacity revenues and energy sales [14]. - The company reaffirmed its 2026 guidance for Adjusted EBITDA in the range of $1,750 million to $2,050 million and Adjusted Free Cash Flow between $980 million and $1,180 million [9][43]. Strategic Acquisitions - Talen completed the Freedom and Guernsey acquisitions in November 2025, increasing its generating capacity by approximately 2.8 GW for a total cash payment of $3.8 billion [10][11]. - A definitive agreement was signed for the Cornerstone Acquisition, which includes the Waterford Energy Center, Darby Generating Station, and Lawrenceburg Power Plant, expected to close in the second half of 2026 [11][12]. Operational Highlights - Total generation for 2025 was reported at 39.9 TWh, with carbon-free generation accounting for 42% of the total [4][6]. - The company has hedged approximately 90% of its expected generation volumes for 2026, contributing to cash flow stability [16]. Balance Sheet and Liquidity - As of February 20, 2026, Talen had total available liquidity of approximately $2.1 billion, including $1.2 billion in unrestricted cash [15]. - The company aims to maintain a net leverage target below 3.5x net debt-to-Adjusted EBITDA by year-end 2026, inclusive of the Cornerstone Acquisition [15].

Core Insights - Bristow Group reported a net income of $129.1 million for the full year 2025, an increase from $94.8 million in 2024, with total revenues rising to $1.5 billion from $1.4 billion [1][2] - The company declared a quarterly cash dividend of $0.125 per share, reflecting a positive financial outlook and strong liquidity position [1][2] - Bristow expects Adjusted Operating Income in its Government Services business to double in 2026 and a 25% increase in total Adjusted EBITDA compared to 2025 [1][2] Full Year Highlights - Total revenues for 2025 were $1.5 billion, up from $1.4 billion in 2024 [1] - Operating cash flow increased to $198.4 million in 2025 from $177.4 million in 2024 [1] - Adjusted Free Cash Flow rose to $186.7 million in 2025 compared to $160.9 million in 2024 [1] Quarterly Results - For Q4 2025, net income was $18.4 million on total revenues of $377.3 million, down from $51.5 million and $386.3 million in Q3 2025 [1] - Offshore Energy Services revenues decreased by 1.2% to $247.5 million in Q4 2025 compared to Q3 2025 [1] - Government Services revenues were $100.1 million in Q4 2025, a slight decrease from $100.9 million in Q3 2025 [1] Segment Performance - Offshore Energy Services saw a revenue increase of 2.5% year-over-year, totaling $990.5 million in 2025 [2] - Government Services revenues increased by 15.1% to $379.4 million in 2025, driven by new contracts [2] - Other Services revenues were $120.6 million in 2025, a marginal increase from $119.8 million in 2024 [2] Financial Outlook - The company anticipates total revenues for 2026 to be between $1.58 billion and $1.69 billion [2] - Adjusted Operating Income for Offshore Energy Services is expected to rise to between $225 million and $235 million in 2026 [2] - The company projects an Adjusted Free Cash Flow exceeding $200 million for 2026 [1][2]

Investor Presentation Februar y 2026 Forward Looking Statements & Non-GAAP Financial Measures This presentation contains "forward-looking statements" within the meaning of Section 27A of the Securities Act, Section 21E of the Exchange Act, and the Private Securities Litigation Reform Act of 1995, that are subject to risks and uncertainties. These statements involve known and unknown risks, uncertainties and other factors that may cause our actual results, performance or achievements to be materially differe ...

Core Insights - Allison Transmission reported full year 2025 net sales of $3 billion, with an Adjusted EBITDA margin of 37.5% and net income of $623 million, reflecting a disciplined approach to cost management amid macroeconomic challenges [1][2] Financial Performance - Full year Adjusted EBITDA was $1,130 million, representing a year-over-year increase of 140 basis points [1] - Net income for the year was $623 million, equating to 21% of net sales, with diluted EPS at $7.33 [1] - Fourth quarter net sales reached $737 million, with a 7% increase in the Defense end market and a 6% increase in the Outside North America On-Highway end market [1] Market Segmentation - Full year net sales in the Defense end market were $267 million, a 26% increase year-over-year [1] - Outside North America On-Highway net sales for the year were $507 million, driven by higher demand in Europe and South America [1] - North America On-Highway net sales decreased by $212 million year-over-year, totaling $1,540 million [1] Acquisition Impact - The acquisition of Dana's Off-Highway business was completed on January 1, 2026, expected to enhance Allison's presence in the global mobility market [1][2] - The acquisition is anticipated to be accretive to net income and diluted EPS in 2026, despite incurring approximately $70 million in one-time, pre-tax expenses related to integration [2] Cash Flow and Expenses - Net cash provided by operating activities for the year was $836 million, with adjusted free cash flow at $661 million [1] - Selling, general and administrative expenses for the fourth quarter increased by $26 million to $110 million, primarily due to acquisition-related costs [1] - Gross profit for the fourth quarter was $354 million, a decrease from $373 million in the same period of 2024, attributed to lower volumes and unfavorable direct material costs [1]

Core Insights - Diamondback Energy, Inc. reported financial and operational results for Q4 and the full year of 2025, highlighting significant production and cash flow metrics, alongside a strategic focus on capital returns to shareholders [1]. Fourth Quarter 2025 Highlights - Average oil production reached 512.8 thousand barrels per day (MBO/d), with net cash provided by operating activities of $2.3 billion and operating cash flow before working capital changes of $1.9 billion [7]. - Free cash flow was reported at $1.0 billion, with adjusted free cash flow at $1.2 billion [7]. - The company repurchased 2.90 million shares for approximately $434 million at an average price of $149.50 per share, representing a total return of capital of $734 million, which is 62% of adjusted free cash flow [7][19]. - The annual base dividend was increased by 5% to $4.20 per share, with a declared Q4 2025 cash dividend of $1.05 per share [7][19]. Full Year 2025 Highlights - Total revenues for 2025 were $15.0 billion, up from $11.1 billion in 2024, driven by higher oil and gas sales [43]. - Average production for the year was 497.2 MBO/d, with free cash flow of $5.5 billion and adjusted free cash flow of $5.9 billion [8]. - Proved reserves as of December 31, 2025, were 3,618 million barrels of oil equivalent (MMBOE), a 2% increase year-over-year [8][26]. 2026 Guidance Highlights - The company anticipates oil production for 2026 to be between 500 - 510 MBO/d, with cash capital expenditures projected at $3.6 - $3.9 billion [8][34]. - Q1 2026 oil production guidance is set at 502 - 512 MBO/d, with cash capital expenditures expected to be between $900 million and $975 million [8][34]. Operational Updates - In Q4 2025, Diamondback drilled 107 gross wells and completed 127 gross wells, primarily in the Midland Basin [9]. - The average completed lateral length was approximately 12,474 feet [10]. Financial Update - The net income attributable to Diamondback Energy for Q4 2025 was a loss of $1.458 billion, with adjusted net income of $499 million [14]. - Consolidated adjusted EBITDA for the year was $10.281 billion, with net cash provided by operating activities totaling $8.758 billion [17]. Debt and Liquidity - As of December 31, 2025, consolidated total debt was $14.7 billion, with total standalone liquidity of $2.591 billion [18]. - The company has a share repurchase authorization totaling $8.0 billion, with $2.3 billion remaining as of February 20, 2026 [20].

Financial Data and Key Metrics Changes - For the full year 2025, Brookdale achieved a RevPAR growth of 5.7%, exceeding the initial guidance of 4.75%-5.75% [6][25] - Adjusted EBITDA for 2025 was reported at $458 million, marking a 19% increase year-over-year and surpassing the midpoint of the final guidance [9][29] - Adjusted Free Cash Flow for 2025 was $23 million, the first positive cash flow since 2020, although it fell short of the guidance of $30 million-$50 million due to timing issues [10][39] Business Line Data and Key Metrics Changes - The fourth quarter occupancy rate reached a weighted average of 82.5%, a 310 basis point improvement year-over-year, and 83.5% on a same-community basis [6][32] - Communities with occupancy below 70% decreased from 23% in Q1 2025 to 15% in Q4 2025, while those exceeding 90% occupancy increased from 25% to 34% [8][9] Market Data and Key Metrics Changes - The demand for senior living is expected to grow significantly as the first baby boomers turn 80 in 2026, with a projected 4%+ annual growth in the population aged 80 and above [20][22] - The supply growth of senior housing was only 0.6% at the end of 2025, indicating a strong trend toward increasing occupancy in the industry [21][22] Company Strategy and Development Direction - Brookdale's strategic priorities include excelling operationally, optimizing the real estate portfolio, reinvesting capital, reducing leverage, and elevating quality for residents and associates [10][12] - The company plans to reduce its consolidated portfolio to 517 communities by mid-2026, focusing on those with the strongest long-term value creation potential [13][15] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the robust demand outlook for senior living, driven by demographic trends and a stagnating supply of units [20][22] - For 2026, Brookdale projects RevPAR growth of 8%-9% and Adjusted EBITDA growth to between $502 million and $516 million, indicating a continuation of positive trends [22][41] Other Important Information - The company has implemented a new regional operating structure with six distinct leadership teams to enhance operational efficiency [11][12] - Brookdale's Net Promoter Score (NPS) has improved significantly, indicating better service delivery quality and resident satisfaction [18] Q&A Session Summary Question: Progress on transitioning to an operating company - Management highlighted the establishment of a dedicated COO and regional teams to enhance operational focus and performance [50][51] Question: Expected progress on Health Plus - Health Plus was rolled out in 58 additional communities in 2025, with plans to fill gaps in markets and improve resident retention [56][58] Question: Centralized pricing strategy and rent increases - In-place rate increases for 2026 are expected to be in the high single digits, with attrition rates remaining favorable [63][65] Question: CapEx plans and project details - Non-development CapEx is projected to increase, focusing on high-impact projects that drive occupancy and NOI [66][68] Question: Occupancy bands and earnings potential - Management is focusing efforts on communities in the 70%-80% occupancy band to drive them above 80%, which is crucial for profitability [75][77]

Core Insights - Visteon Corporation reported record financial results for 2025, including a significant increase in adjusted EBITDA and gross margin, alongside a strong performance in new business wins and product launches [1][2]. Financial Performance - Fourth quarter net sales reached $948 million, driven by strong demand for cockpit products, particularly in displays and clusters, despite challenges from lower battery management system volumes and production disruptions [1][3]. - Full-year net sales totaled $3,768 million, reflecting a decline from the previous year, primarily due to lower battery management system volumes and reduced customer recoveries [1][3]. - Adjusted EBITDA for Q4 was $110 million, with a full-year record of $492 million, representing margins of 11.6% and 13.1% respectively [1][4]. - Net income for Q4 was $74 million, or $2.67 per diluted share, while full-year net income was $201 million, or $7.28 per diluted share [1][3]. Capital Allocation - The company repurchased $57 million of shares in 2025 and initiated a quarterly dividend, which was increased by 36% to $0.375 per share for Q1 2026 [1][2]. - Cash provided by operations was $410 million, with adjusted free cash flow of $292 million for the full year, benefiting from improved adjusted EBITDA and disciplined capital investments [1][4]. New Business and Product Launches - Visteon secured a record $7.4 billion in new business in 2025, with significant contributions from displays ($3.6 billion), SmartCore™ and infotainment ($2.1 billion), and clusters ($1.4 billion) [1][2]. - The company launched 86 new products across 19 OEM customers in 2025, with a balanced regional distribution [1][4]. Outlook - For 2026, Visteon anticipates sales between $3.625 billion and $3.825 billion, adjusted EBITDA between $455 million and $495 million, and adjusted free cash flow between $170 million and $210 million [1][2].

Core Insights - Brookdale Senior Living Inc. reported fourth quarter and full year results for 2025, showing positive momentum and operational excellence, with expectations for continued growth in 2026 [2][3][20] Financial Performance - In Q4 2025, resident fees decreased to $714.5 million, down 4.0% from $744.4 million in Q4 2024, primarily due to community dispositions [3][8] - Facility operating expenses decreased by 4.5% to $529.7 million, while general and administrative expenses fell by 14.6% to $41.4 million [3][11] - Adjusted EBITDA for Q4 2025 increased by 7.1% to $105.6 million compared to $98.5 million in Q4 2024 [3][11] - Full year 2025 net loss was $263 million, with Adjusted EBITDA of $458 million, exceeding previous guidance [5][9] Occupancy Metrics - Weighted average occupancy improved to 82.5% in Q4 2025, up 310 basis points from 79.4% in Q4 2024 [3][9] - RevPAR for the full year 2025 increased by 5.7% to $5,134, reflecting strong demand in a constrained supply environment [9][20] Liquidity and Financing - Total liquidity as of December 31, 2025, was $377.7 million, including $279.1 million in unrestricted cash [19] - The company successfully refinanced approximately $596.9 million in mortgage debt, strengthening its balance sheet [14][19] 2026 Outlook - For 2026, the company anticipates RevPAR growth of 8% to 9% and Adjusted EBITDA between $502 million and $516 million [20][21]