Ardmore Shipping Fourth Quarter and Full Year 2025 & Investor Day 2026 To Submit Questions for the Q&A Session 2 Disclaimer This presentation contains certain statements that may be deemed to be "forward-looking statements" within the meaning of applicable U.S. federal securities laws. All statements, other than statements of historical facts, that address activities, events or developments that Ardmore Shipping Corporation ("Ardmore" or the "Company") expects, projects, believes or anticipates will, should ...

Core Insights - PZ Cussons reported a strong financial performance in the first half of the financial year 2026, with broad-based revenue growth and improved operating profit, leading to an increase in adjusted profit before tax to GBP 30 million from GBP 20 million [1][4] Financial Performance - Adjusted operating profit rose to GBP 36 million from GBP 27 million, with an adjusted operating margin improvement of 240 basis points [2] - Like-for-like revenue increased by 9.5% to GBP 269 million, up from GBP 249 million in the prior-year period [3] - The company raised full-year adjusted operating profit guidance to GBP 53 million to GBP 57 million, up from GBP 50 million to GBP 55 million [16] Regional Performance - Revenue in Africa increased to GBP 79 million, with like-for-like growth of 28%, driven by pricing and volume recovery [9] - In the UK, revenue growth was supported by strong performance in gifting, particularly from the Sanctuary Spa brand, which grew 30% during the Christmas period [7] - APAC revenue was GBP 88 million, reflecting a 5.2% like-for-like growth, while the Americas business achieved its third consecutive quarter of revenue growth [8] Balance Sheet and Cash Flow - The balance sheet improved significantly, with net debt reduced to GBP 84 million, and leverage below 1x under new capital allocation guidelines [6][14] - Free cash flow for the half was GBP 23 million, with seasonal working capital outflows noted [13] Marketing and Strategic Initiatives - The company plans to increase marketing spend in the second half, the highest in 4-5 years, which is expected to impact profitability [5][18] - Management is focused on reducing sensitivity to foreign exchange fluctuations in Nigeria through recapitalization efforts [11] Dividend and Shareholder Returns - The interim dividend remains unchanged at GBP 0.05 per share, reflecting a cautious approach given the outlook for full-year earnings [17]

Core Insights - General Motors (GM) has shown strong performance in the investment community, with a trailing-12-month revenue of $187 billion and 1.6 million units sold in the latest quarter [1] Financial Performance - Over the past five years, GM shares have produced a total return of 101%, matching the performance of the S&P 500 [3] - In the past 12 months and three years, GM has achieved total returns of 56% and 117%, respectively, with the stock currently trading at an all-time high [4] - GM reported adjusted EPS of $2.80 and revenue of $48.6 billion for the third quarter of 2025, exceeding Wall Street estimates for 13 consecutive quarters [6] Market Position and Strategy - The belief that electric vehicles would rapidly dominate the market has not materialized, reducing a key risk factor for GM, which primarily generates revenue from gas-powered cars [5] - GM's leadership has implemented a capital allocation policy that allows for stock buybacks, reducing the outstanding share count by 15% in the past 12 months [7] Valuation Metrics - Despite strong performance, GM's stock is trading at a forward price-to-earnings ratio of 6.9, indicating an attractive valuation [8] Market Challenges - GM faces cyclical demand trends, significant capital expenditures, low margins, and intense competition, which may temper investor enthusiasm [9]

Contents I. Highlights Ardmore Shipping First Quarter 2025 Disclaimer This presentation contains certain statements that may be deemed to be "forward-looking statements" within the meaning of applicable U.S. federal securities laws. All statements, other than statements of historical facts, that address activities, events or developments that Ardmore Shipping Corporation ("Ardmore" or the "Company") expects, projects, believes or anticipates will, or may occur in the future, are among these forward-looking ...