2025 Results and 2026 Guidance February 2026 Forward-Looking Statements Statements contained in this presentation regarding company expectations, outlooks, targets, predictions and other similar statements should be considered forward-looking statements that are covered by the safe harbor protections provided under federal securities legislation and other applicable laws. See a discussion of the factors that could affect such forward- looking statements at the end of this presentation. This presentation con ...

Group 1 - The REIT Forum offers exclusive investment ideas and access to subscriber-only portfolios [1] - Amrita leads a family office fund in Vancouver, focusing on sustainable, growth-driven companies to maximize shareholder equity [2] - The fund aims to break down financial jargon and complex macroeconomic concepts to enhance financial literacy [2] Group 2 - Amrita has experience in high-growth supply-chain start-ups and has worked with venture capital firms to maximize client returns [2] - Her newsletter, The Pragmatic Optimist, has been recognized as a top finance newsletter and aims to share investment ideas on Seeking Alpha [2]

Cannara Biotech Update Summary Company Overview - **Company**: Cannara Biotech (OTCPK: LOVF.F) - **Industry**: Cannabis - **Focus**: Canadian cannabis market with a strategy centered on operational efficiency and brand strength Key Points and Arguments Business Model and Strategy - Cannara operates as a second mover in the cannabis industry, focusing on sustainable margins and operational efficiency rather than rapid expansion [3][4] - The company has three flagship brands: Nugz, Tribal, and Orchid, which cover multiple categories and price points while maintaining quality [4][9] - Cannara has built a disciplined operating model that emphasizes market discipline, low-cost production, and a consumer-first approach [6][7] Production Capacity and Facilities - Cannara currently operates two facilities in Quebec with an annual production capacity of approximately 50,000 kilograms, with plans to expand to 100,000 kilograms [5][19] - The Valleyfield post-processing facility is under construction and is expected to unlock additional capacity by the end of fiscal 2026 [6][8] - Incremental capacity growth is planned through activating existing grow rooms rather than building new facilities, ensuring capital efficiency [21][22] Financial Performance - In fiscal 2025, Cannara reported gross revenues of CAD 150.053 million and net revenues of CAD 108 million, with a gross margin of 41% [15] - The company achieved an 86% increase in Adjusted EBITDA, totaling CAD 28.1 million at a 26% margin [15] - For Q1 2026, net revenues were CAD 30.1 million, reflecting a 20% year-over-year growth, with a gross margin of 45% and an Adjusted EBITDA of CAD 8.8 million at a 29% margin [16] Market Position and Share - Cannara's national retail market share increased from 2.9% in fiscal 2024 to 4.1% in Q1 2026, with significant gains in Quebec where it holds a mid-teen market share [10][11] - The company is positioned to capture market share from both smaller and larger competitors, particularly those distracted by international opportunities [43] Capital and Investment Strategy - Cannara achieved OTCQX qualification and is seeking conditional approval for listing on the TSX, which would enhance visibility and liquidity [8][14] - A recent CAD 6.3 million private placement was completed at a 16% premium to the share price, strengthening the balance sheet for future growth [8][14] - The company plans to allocate approximately CAD 30 million for capital expenditures over the next few years to support expansion [45] Risk Management and Inventory Control - Cannara employs a disciplined approach to inventory management, adjusting production based on market demand to avoid overproduction [48][49] - The company is focused on maintaining gross margins between 40% and 45%, with strategies in place to remain competitive on pricing without sacrificing quality [37][38] Future Outlook - Cannara's growth strategy is centered on the Canadian market, with plans to double its market share and expand its product offerings [30][34] - The company is exploring potential international opportunities but remains committed to its core Canadian operations [35][36] Leadership and Governance - The leadership team, including CEO Zohar Krivorot, emphasizes disciplined execution and long-term value creation [24][25] - The board includes members with extensive experience in public company governance and regulatory compliance, providing a competitive advantage [25] Additional Important Insights - Cannara's brands have received recognition in industry awards, validating their market position and consumer appeal [7] - The company is focused on genetic innovation to enhance product offerings and maintain competitive margins [39][41] - Cannara's operational model is designed to be replicable, with potential for future expansion into international markets as conditions allow [62]

Core Insights - SGA's Emerging Markets Growth Strategy experienced a significant divergence from the market in Q4 2025, with a portfolio return of 0.8% (Gross) and 0.6% (Net), compared to the MSCI EM Net TR Index return of 4.7% and the MSCI EM Growth Net TR Index return of 3.3% [1] - For the full year 2025, the portfolio achieved returns of 23.8% (Gross) and 22.8% (Net), lagging behind the indexes which returned 33.6% and 34.3% respectively [1] - The portfolio anticipates annual revenue growth of 13% and earnings growth of 16% over the next three years [1] Company Specifics - Gartner, Inc. (NYSE:IT) was highlighted in SGA's Q4 2025 investor letter, with a one-month return of -31.25% and a 52-week loss of 69.19% [2] - As of February 13, 2026, Gartner, Inc. had a stock price of $158.58 and a market capitalization of $11.17 billion [2] - SGA engaged with Gartner's Lead Independent Director and CFO regarding governance matters, including the Chairman/CEO split and executive compensation metrics [3]

Core Insights - TotalEnergies Marketing India Private Limited (TEMIPL) held its annual lubricants distributor convention, emphasizing its commitment to innovation, collaboration, and sustainable growth in India [1][2] - The convention gathered 200 distributors and partners, focusing on a strategic roadmap for 2026 aimed at enhancing mutual trust and optimizing performance within TEMIPL's distribution network [2] - New product launches included TotalEnergies Hi–Perf Royal Cruiser 15W–50, Hi–Perf Scooter 5W–30, and ELF Moto 4 Scooter 5W–30, along with revamped packaging for TotalEnergies and ELF products [3] Company Performance and Recognition - TEMIPL recognized top-performing distributors at the convention, highlighting the importance of their contributions to the automotive aftermarket ecosystem in India [4] - The CEO of Lubricants Automotive India stated that trusted distributors are essential for success in India's lubricants market, ensuring timely product access and responsiveness to customer needs [5] Strategic Focus - The Director of Automotive Lubricant APME noted that India is a key growth market, with the 2026 strategy centered on innovation, operational excellence, and empowering the distributor ecosystem [6] - TEMIPL has been operating in India since 1993, with a growing presence in automotive and industrial lubricants, LPG, and special fluids, supported by seven industrial plants and a retail network [6][7]

Core Viewpoint - Netflix is experiencing a decline in growth and profitability due to increased competition and market saturation, leading to margin compression and a challenging growth environment [2][4][12] Company Analysis - Netflix's growth expectations, built by Wall Street, are likely unsustainable given the current competitive landscape, including strong competitors like YouTube and HBO Max [2][3] - The company is facing a "law of large numbers" challenge, making it difficult to maintain previous growth rates [2][4] - Current stock performance shows a decline of approximately 43% from highs of about $134 since early July [7] Competitive Landscape - The streaming market is saturated with numerous high-quality options, limiting demand growth while supply continues to increase [10][12] - Netflix's strategy to redefine user monetization through app platform improvements and subscription pricing adjustments is seen as a positive move [13] Long-term Outlook - Despite short-term volatility and challenges, Netflix is considered a long-term investment opportunity due to its proven ability to navigate difficulties and innovate [6][16] - The company is viewed as one of the giants in the industry, alongside YouTube and Disney, with potential for recovery and growth in the future [16][18] Current Sentiment - The sentiment around Netflix is currently neutral, with the stock priced appropriately given the circumstances, and a need for improved viewer engagement to regain lost audience [19]

Core Strategy - The company's strategy is built on four fundamental pillars: growth in core gas distribution, renewable energy, energy efficiency, and economic and operational innovation [1] - The integration of economic financial objectives with social, environmental, and governance goals aims for sustainable success [1] Recent Developments - The group underwent a strategic repositioning starting in 2029, which included a gradual exit from the gas and energy sector, with a definitive transfer of minority interests to the Hera Group by 2025 [2] - This transaction enabled the company to acquire gas distribution concessions from the A2A Group, positioning Ascopiave as the second national operator and strengthening its presence in Lombardy [2] Financial Overview - As of the end of 2025, the company's invested capital is over $1.5 billion, with approximately 85% allocated to the regulated gas distribution sector, indicating a low-risk profile for the asset portfolio [3]

Core Insights - Husky Technologies has appointed Tracy Cordes as President of Service, effective February 16, 2026, succeeding Tony Black who will retire on March 31, 2026 [1][2][5] Leadership Transition - Tracy Cordes brings extensive global leadership experience in service, operations, business transformation, and profitability from her previous roles, including Executive Director at Carrier Global Corporation [2][3] - Tony Black has been instrumental in strengthening Husky's global service organization, achieving significant improvements in customer satisfaction and operational effectiveness during his tenure [4][5] Strategic Focus - The leadership transition is aligned with Husky's long-term goals of sustainable growth, operational strength, and customer service excellence [6] - The company aims to enhance service innovation and customer partnerships, reinforcing its leadership position in the market [6]

Core Insights - Encompass Health (EHC) is positioned as a sustainable growth story within the healthcare services sector, contrasting with other segments that are influenced by speculative disruption and unpredictable reimbursement dynamics [1] Company Overview - Encompass Health is the largest provider in its field, indicating a strong market presence and potential for continued growth [1]

Core Insights - CleanGo Innovations Inc. has been selected for the Canada Trade Mission to Saudi Arabia, scheduled for February 7–12, 2026, aimed at connecting Canadian innovation with Saudi Arabia's infrastructure and clean technology expansion [1][2] - The mission will involve high-level engagements with key decision-makers in Saudi Arabia to support the objectives of Saudi Vision 2030, focusing on sustainable growth and infrastructure development [2] Company Overview - CleanGo Innovations Inc. specializes in developing early-stage, green, non-toxic, and sustainable products for retail, commercial, and industrial applications [3] - The company offers a range of proprietary, Green Seal Certified non-toxic products that are Health Canada approved, claiming 99.9% effectiveness in disinfecting viruses and bacteria on hard surfaces [4] - CleanGo's mission is to create leading non-toxic, green solutions for global cleaning challenges, ensuring safety for families and pets [4][5] Strategic Engagements - The trade mission includes high-level briefings with the TFM Group and the Jeddah Chamber of Commerce to address the growing demand for green infrastructure in Saudi Arabia [6] - CleanGo will participate in exclusive site visits and meetings with significant projects such as King Salman International Airport and the Expo 2030 Riyadh committee [6] - The company will engage in direct B2B sessions with industry leaders like Albawani Contracting, Al Fanar Group, and El Seif Engineering to explore long-term collaborative opportunities [6]