Core Viewpoint - SiriusPoint (SPNT) has agreed to sell its 49% equity stake in Arcadian Risk Capital to Lee Equity Partners for a total consideration of $139 million, which includes a pre-close dividend [1] Group 1: Transaction Details - The sale will result in a pre-tax gain of $25 million to $30 million for SiriusPoint, in addition to a previously recognized gain of $96 million in Q2 2024 [1] - Arcadian Risk Capital generated $17.6 million in EBITDA [1] - The transaction is expected to close before the end of Q1 2026, pending regulatory approvals and customary closing conditions [1] Group 2: Capacity Agreement - SiriusPoint has renewed and extended its capacity agreement with Arcadian until the end of 2031 [1]

Transaction Overview - Sempra is selling a 45% ownership stake in Sempra Infrastructure Partners for $10 billion[14] - The transaction implies an equity value of $22.2 billion and an enterprise value (EV) of $31.7 billion for Sempra Infrastructure Partners[14] - The EV/EBITDA multiple for the transaction is 13.8x[14] - The transaction is projected to result in an average EPS accretion of $0.20 on a full-year basis[14, 20] - The transaction is expected to close in Q2 – Q3 2026[14, 21] Financial Implications - The sale eliminates common equity needs in the 2025 – 2029 capital plan[20, 31] - Sempra is affirming its FY-2025 adjusted EPS guidance range of $4.30 – $4.70 and FY-2026 adjusted EPS guidance range of $4.80 – $5.30[31] - The company is targeting a 7% – 9% projected EPS CAGR for 2025 through 2029[31] Strategic Shift - The transaction sharpens Sempra's focus on becoming a leading U S utility growth business[19, 31] - The regulated business mix is expected to increase from approximately 81% pre-sale to a target of 95%[19, 34] - The sale reduces exposure to non-utility investments[19, 31] Port Arthur LNG Phase 2 - A final investment decision (FID) has been taken for Port Arthur LNG Phase 2[9, 23] - Sempra's pro-forma ownership in Port Arthur LNG Phase 2 will be 12.5%[24, 39] - The project is targeting an unlevered after-tax return of 13.2% to Sempra with an expected pro-forma equity requirement of $1 billion[26, 39]

Group 1 - SKEL has signed purchase agreements for the acquisition of 153.9 million shares in Styrkás hf., representing over 15.4% of the company's issued share capital, at a total price of ISK 3,150 million, or ISK 20.47 per share [1] - The purchase price reflects the book value of SKEL's stake in Styrkás as of December 31, 2024, and the agreements are subject to customary conditions expected to be finalized next week [1] - Following the transaction, Styrkás will have 19 shareholders, with SKEL being the largest at 47.9%, and SÁ Horn holding 39.2% [4] Group 2 - Styrkás operates in the service sector, with subsidiaries in energy and chemicals, equipment and machinery, and asset management [2] - The buyers of the shares include prominent institutional investors such as VÍS tryggingar hf., Íslandssjóðir, and Birta lífeyrissjóður, among others [3] - The proceeds from the sale will be utilized to reduce SKEL's debt and strengthen its equity position, aligning with SKEL's goal of bringing cornerstone investors into Styrkás ahead of a public listing [5] Group 3 - The CEO of SKEL highlighted the significance of additional institutional investors joining Styrkás's shareholder group, emphasizing the effort to broaden the shareholder base and the potential for Styrkás to become a leading service provider in Iceland [6]