Investor Presentation Hapag-Lloyd signs merger agreement with ZIM 17/02/2026 Hamburg I N V E S TO R P R E S E N TA TI O N Disclaimer This presentation contains forward-looking statements within the meaning of applicable securities laws, including, where applicable, the U.S. Private Securities Litigation Reform Act of 1995, that involve a number of risks and uncertainties. Such statements are based on a number of assumptions, estimates, projections or plans that are inherently subject to significant risks, a ...

Core Viewpoint - Park National Corporation has successfully completed its merger with First Citizens Bancshares, enhancing its community banking presence and expanding into Tennessee [1][2]. Group 1: Merger Details - The merger was finalized on February 1, 2026, through an all-stock transaction, combining Park National Bank and First Citizens National Bank [1]. - The combined entity has pro forma total assets of $12.6 billion, deposits of $10.5 billion, and loans of $9.6 billion as of December 31, 2025 [2]. - Park National now operates over 100 branches across Ohio, Kentucky, North Carolina, South Carolina, and Tennessee [2]. Group 2: Leadership and Integration - Jeffrey D. Agee, former CEO and Chairman of First Citizens, has joined Park's Board of Directors and will lead the new Tennessee Region [3]. - First Citizens National Bank will operate as a division of Park National Bank until conversion activities are completed later in the year [4]. - Customers of First Citizens will not need to take any immediate action and will receive information regarding account changes in the coming months [4]. Group 3: Strategic Outlook - The merger is viewed as a significant opportunity for growth, allowing the combined organization to enhance service delivery and community banking [5]. - Park National Corporation has engaged financial advisors Piper Sandler & Co. and Hovde Group, LLC for the merger process [5][6].

Core Viewpoint - Potlatch Corporation held a virtual special meeting to vote on its merger agreement with Rayonier Inc, which was successfully approved by shareholders [2][7]. Meeting Setup and Quorum - The meeting was chaired by Board Chair Mike Covey and included key management members such as President and CEO Eric Cremers, CFO Wayne Wasechek, and General Counsel Michele Tyler [3]. - A quorum was established with a majority of the company's voting power represented, as there were 77,416,980 shares of common stock outstanding as of the record date [5]. Proposals Presented to Stockholders - Three proposals were outlined in the proxy statement, with the third proposal regarding adjournment deemed unnecessary if the merger agreement was approved [6]. Voting Results - The merger proposal to merge PotlatchDeltic into Redwood Merger Sub LLC, a Rayonier subsidiary, was approved by shareholders [7]. - An advisory vote on merger-related executive compensation was rejected, receiving over 70% negative votes from shares represented at the meeting [7].

Core Viewpoint - A potential merger involving Elon Musk's companies—SpaceX, xAI, and Tesla—is being discussed, with early-stage talks suggesting that at least one company may merge into SpaceX [1][2]. Group 1: Merger Scenarios - Two primary scenarios are under consideration: a merger between SpaceX and Tesla, or a merger between SpaceX and xAI [1]. - A merger between SpaceX and xAI could occur before a planned SpaceX IPO this year, consolidating products like the Grok chatbot, X platform, Starlink satellites, and SpaceX rockets under one corporation [2]. Group 2: Corporate Developments - Recent filings indicate the establishment of two new corporate entities in Nevada, K2 Merger Sub Inc. and K2 Merger Sub 2 LLC, suggesting that Musk is exploring various options for the merger [3]. - SpaceX's investment of $2 billion in xAI last year, along with Tesla's similar investment, reflects Musk's strategy to consolidate resources among these companies [5]. Group 3: Strategic Advantages - Merging SpaceX and xAI could enable xAI to utilize space-based data centers, aligning with Musk's vision [4]. - A merger between SpaceX and Tesla could integrate Tesla's energy storage capabilities with the space data center concept [4]. Group 4: Company Valuations - xAI was valued at $80 billion following its acquisition of X, which was valued at $33 billion, while SpaceX's secondary sale valued it at $800 billion, making it the most valuable private company in the U.S. [6]. - Musk aims to take SpaceX public in June, although his timelines are often subject to delays [6].

Core Insights - Elon Musk's companies, SpaceX, xAI, and Tesla, are exploring potential merger scenarios, with discussions reportedly in early stages [1][2] - Two primary merger scenarios are being considered: one between SpaceX and Tesla, and another between SpaceX and xAI [1] - A merger between SpaceX and xAI could precede a planned SpaceX IPO this year, consolidating various products under one corporation [2] Company Developments - Recent corporate filings indicate the establishment of two new entities in Nevada, suggesting Musk is keeping merger options open [3] - SpaceX has previously invested $2 billion in xAI, and Tesla has also made a similar investment, indicating a trend towards resource sharing among Musk's companies [5] Valuation and Market Position - xAI was valued at $80 billion following its acquisition of X, which was valued at $33 billion, while SpaceX's secondary sale valued it at $800 billion, making it the most valuable private company in the U.S. [6]

Core Viewpoint - The proposed merger between Monroe Capital Corporation and Horizon Technology Finance Corporation is under investigation to assess its fairness and adequacy for Monroe Capital shareholders [1]. Group 1: Merger Details - The merger will result in former Monroe Capital shareholders owning approximately 37% of Horizon Technology Finance Corporation after the transaction is completed [1]. Group 2: Legal Investigation - Kahn Swick & Foti, LLC is conducting an investigation to determine whether the merger process and its terms are fair to the shareholders of Monroe Capital [1].

Core Viewpoint - The chairman of Italy's Leonardo has proposed the idea of a potential merger between the defense and aerospace group and the state-controlled shipbuilder Fincantieri [1] Group 1 - Leonardo is a prominent player in the defense and aerospace sector in Italy [1] - Fincantieri is a state-controlled shipbuilder, indicating a significant government interest in the potential merger [1]

Core Viewpoint - The proposed merger between Rio Tinto and Glencore may necessitate asset divestitures to obtain regulatory approval from China, which has ongoing concerns regarding resource security [1] Group 1: Regulatory Concerns - China, as a major commodity buyer, has expressed longstanding worries about resource security, which could impact the merger's approval process [1]

Oil Market Insights - Iran protests have contributed to a bullish start for 2026, raising concerns about potential supply disruptions, with ICE Brent prices nearing $63 per barrel, marking a $2 increase and the third consecutive weekly gain [2] - The US government's inability to attract investments from oil majors in Venezuela has tempered expectations for a near-term surge in Venezuelan oil production, despite Treasury Secretary Bessent's encouragement for 'wildcatters' to drill [2][6] Geopolitical Developments - The US military seized a Russian-flagged tanker after a three-week pursuit, highlighting ongoing tensions in maritime oil transport [3] - Iraq has approved the nationalization of the West Qurna 2 oilfield, previously operated by Lukoil, due to US sanctions, with operations now under the control of state-owned Basrah Oil [4] Mergers and Acquisitions - Rio Tinto and Glencore are in early discussions to merge, potentially creating the world's largest mining company valued at $207 billion, building on a previous stalled merger proposal [5] - Spanish and Portuguese refiners, Moeve and Galp, are negotiating a merger of their downstream businesses, aiming for a combined capacity of 690,000 b/d, which represents 5% of Europe's refining capacity [7]

Core Points - Cool Company Ltd. has scheduled a special meeting for its shareholders on January 6, 2026, at 1:00 PM GMT [1] - The purpose of the meeting is to vote on the proposed merger with a newly formed, wholly owned subsidiary of EPS Ventures Ltd. [1] - This merger was previously announced on December 8, 2025, and is a significant development for CoolCo [1]