Earnings Presentation 4Q 2025 Sustainable Value Creation Through Industry Cycles EOG Is Focused On Being Among The Highest Return And Lowest Cost Producers, Committed To Strong Environmental Performance And Playing A Significant Role In The Long-Term Future Of Energy CAPITAL DISCIPLINE OPERATIONAL EXCELLENCE • Organic Exploration Maintains Low Cost, High Quality, Multi- Basin Inventory SUSTAINABILITY CULTURE 1. See (1) schedules posted to "Investors" section of EOG website for reconciliations & definitions ...

Core Viewpoint - BNP Paribas Asset Management SA has crossed the legal threshold of 3% for direct voting rights in Umicore, now holding 3.08% as of February 5, 2026 [2][10]. Company Overview - Umicore is a global advanced materials and recycling group, specializing in transforming precious and critical metals into functional technologies [6]. - The company operates with a unique circular business model that focuses on refining and recycling critical elements for new applications [6]. Business Segments - Umicore has four main business groups: Catalysis, Recycling, Specialty Materials, and Battery Materials Solutions, which address resource scarcity and the demand for functional materials in clean technologies [7]. - The company emphasizes innovation and sustainability through tailored products and processes [7]. Financial Performance - In the first half of 2025, Umicore generated revenues of €1.8 billion (with a turnover of €8.7 billion), focusing primarily on clean mobility and recycling [9].

Core Insights - Wheaton Precious Metals Corp. has been recognized for the third consecutive year in Corporate Knights' 2026 Global 100 Most Sustainable Corporations list, highlighting its leadership in sustainable value creation [1][5] - The updated methodology for the Global 100 ranking evaluates sustainable investments and revenue, emphasizing the role of Wheaton's streaming business in advancing the clean economy [2][5] - CEO Randy Smallwood stated that this recognition underscores the importance of sustainability in creating long-term value and reflects the quality of Wheaton's mining partners [3] Sustainability Initiatives - Wheaton's Future of Mining Challenge invites cleantech companies to propose solutions for sustainable water management in mining, with a prize of US$1,000,000 for the winning technology [4] - The company is committed to advancing climate solutions and supporting clean technologies within the mining sector, which is central to its strategic goals [3] Corporate Recognition - The Global 100 ranking is based on a rigorous assessment of publicly listed companies with revenues exceeding US$1 billion, positioning Wheaton in the Global 100 Index as a benchmark for sustainability excellence [5] - In addition to the Global 100 recognition, Wheaton was also named one of the 2025 Best 50 Corporate Citizens in Canada [5] Company Overview - Wheaton Precious Metals is a leading precious metals streaming company, providing shareholders access to a high-quality portfolio of low-cost, long-life mines globally [7] - The company partners with mining firms through strategic streaming agreements to secure a portion of their future precious metals production, emphasizing responsible mining practices [7]

Group 1 - BlackRock, Inc. has crossed the legal threshold of 5% for direct voting rights and equivalent financial instruments in Umicore, with a total holding of 5.20% as of December 22, 2025 [2][8] - The breakdown of BlackRock's holdings includes 4.39% in direct voting rights and 0.81% in equivalent financial instruments [3] - The notification was made on December 23, 2025, following the acquisition or disposal of voting securities or voting rights [8] Group 2 - Umicore is a global advanced materials and recycling group, focusing on transforming precious and critical metals into functional technologies [6] - The company operates four business groups: Catalysis, Recycling, Specialty Materials, and Battery Materials Solutions, addressing resource scarcity and the need for clean technologies [7] - Umicore generated revenues of €1.8 billion (turnover of €8.7 billion) in the first half of 2025, with a strong emphasis on clean mobility and recycling [9]

Company Overview - Umicore is a global advanced materials and recycling group that specializes in transforming precious and critical metals into functional technologies for everyday applications [6] - The company operates with a unique circular business model that ensures continuous refinement and recycling of critical elements for reintegration into new applications [6] Business Segments - Umicore has four main business groups: Catalysis, Recycling, Specialty Materials, and Battery Materials Solutions, which address resource scarcity and the demand for functional materials in clean technologies and mobility [7] - The company focuses its R&D efforts primarily on clean mobility and recycling, aiming for sustainable value creation through the development and recycling of materials [9] Financial Performance - In the first half of 2025, Umicore generated revenues of €1.8 billion (with a turnover of €8.7 billion), indicating a strong financial position [10] Shareholding Notification - Millennium International Management LP and associated entities have crossed the legal threshold of 3% in Umicore's voting rights, with a total holding of 3.08% as of December 12, 2025 [2][8] - The notification regarding this change was made on December 19, 2025, and the denominator for the calculation was 246,400,000 [8]

Core Viewpoint - JP Morgan Asset Management Holdings Inc. has notified Umicore that its subsidiary has crossed the legal threshold of 3% for direct voting rights and equivalent financial instruments as of December 15, 2025 [1][8]. Group 1: Shareholding Details - The total holding of direct voting rights and equivalent financial instruments by JP Morgan Asset Management Holdings Inc. is 3.41% as of December 15, 2025 [2]. - The direct voting rights after the transaction on December 15, 2025, were 2.99%, with equivalent financial instruments at 0.01%, totaling 3.00% [3][8]. Group 2: Company Overview - Umicore is a global advanced materials and recycling group, focusing on transforming precious and critical metals into functional technologies for everyday applications [6]. - The company operates four business groups: Catalysis, Recycling, Specialty Materials, and Battery Materials Solutions, addressing resource scarcity and the demand for functional materials in clean technologies and mobility [7]. - Umicore's revenues (excluding metal) reached €1.8 billion, with a turnover of €8.7 billion in the first half of 2025 [10].

Group 1 - Bank of America Corporation has reported a total holding of 3.66% in Umicore as of December 12, 2025, which includes 0.39% in direct voting rights and 3.27% in equivalent financial instruments [2][3][5] - The notification indicates that Bank of America crossed the legal threshold of 3% for equivalent financial instruments upwards on December 12, 2025, and downwards on December 11, 2025 [4][5] - Merrill Lynch International, a subsidiary of Bank of America, crossed the legal threshold of 3% for direct voting rights and equivalent financial instruments upwards on December 11, 2025 [4][5] Group 2 - Umicore is a global advanced materials and recycling group focused on clean technologies and resource scarcity [7][8] - The company generates the majority of its revenues from clean mobility and recycling, with a turnover of €8.7 billion in the first half of 2025 [9][10] - Umicore's business model emphasizes sustainability and innovation through its four business groups: Catalysis, Recycling, Specialty Materials, and Battery Materials Solutions [8][9]

Core Insights - Cerro de Pasco Resources Inc. (CDPR) has made significant progress in the Quiulacocha Tailings Reprocessing Project, transitioning from Phase 1 to Phase 2, which is crucial for both resource recovery and environmental remediation in Peru [1] Phase 1 Achievements - A 40-hole sonic drill program has confirmed metal grades and continuity, supporting the mineral resource estimate for the Quiulacocha tailings [2] - Extensive mineralogical and metallurgical tests are being conducted to determine effective metal recovery methods [3] Environmental Studies - Completion of wet season baseline studies and ongoing dry season assessments, including various monitoring techniques [4] - Environmental baseline data will support the project's Environmental Impact Assessment, aiming to reduce long-term environmental liabilities [19] Hydrogeology and Geotechnics - High-resolution surveys have been integrated into hydrogeological models and stability assessments, guiding mine planning and drilling infrastructure [5][22] - Initial assessments for long-term storage sites and re-mining methods have confirmed the efficient dredging and pumping of Quiulacocha tailings [6][23] Permitting and Approvals - Submission of Phase 1 Results Report has initiated the regulatory process for Phase 2 drilling, with CDPR fully funded for ongoing programs [7] - Recent resolutions from Peru's Mining Council have clarified the permitting process, aligning authorities for the project's advancement [11] Upcoming Milestones - Key milestones include the completion of the integrated metallurgical program in Q1 2026, submission and approval of necessary permits, and commencement of Phase 2 drilling [9] Technical Program Update - The project is supported by a rigorous technical work program, with metallurgical testing defining effective processing routes [12] - The initial metallurgical phase is expected to conclude in Q1 2026, followed by further testing [17] Mineralogical and Metallurgical Testing - The mineralogy program includes various advanced testing methods to determine metal associations and recovery factors [13] - The metallurgical program focuses on recovering multiple metals into saleable concentrates, with initial flotation tests showing promising results [14][15] Tailings Management - Studies on tailings storage and re-mining methods are ongoing, evaluating capacity, land suitability, and environmental considerations [24] - The tailings are confirmed to be pumpable within an optimal solids concentration range, supporting low-cost extraction methods [23] Phase 2 Drilling Program - The upcoming drilling campaign will complete the necessary datasets for feasibility-level engineering, with approximately 116 drillholes planned [25][26]

Core Points - Bank of America Corporation's subsidiary Merril Lynch International has crossed the legal threshold of 3% for direct voting rights and equivalent financial instruments in Umicore as of 26 November 2025, with a total holding of 3.90% [2][8] - The notification regarding this change was made on 28 November 2025, indicating an increase in direct voting rights by 0.05% and equivalent financial instruments by 2.99%, resulting in a total of 3.04% after the transaction [3][8] Company Overview - Umicore is a global advanced materials and recycling group, focusing on transforming precious and critical metals into functional technologies for everyday applications [6] - The company operates four business groups: Catalysis, Recycling, Specialty Materials, and Battery Materials Solutions, addressing resource scarcity and the demand for functional materials in clean technologies and mobility [7] - Umicore's revenues primarily come from clean mobility and recycling, with a commitment to sustainable value creation through the development, production, and recycling of materials [9] - In the first half of 2025, Umicore reported group revenues (excluding metal) of €1.8 billion, with a turnover of €8.7 billion [10]

Core Insights - Cabka N.V. presents a staged growth strategy aimed at long-term value creation through two distinct phases [1][4] Phase 1: Strengthen - Growing to Full Utilisation (2026-2028) - The company targets revenue exceeding €215 million with operational EBITDA margins increasing from 11% to 13-15%, indicating a 40-60% higher EBITDA by 2028 [2] - Key focus areas include optimizing the portfolio mix and enhancing planning in Europe, while intensifying commercial efforts in the United States with improved pricing and customer segmentation strategies [2] - Both regions will shift focus towards pharmaceuticals and e-commerce, alongside expanding contract manufacturing [2] - Improved cash flow generation and disciplined capital expenditure are expected to strengthen the balance sheet [2] Phase 2: Expand and Grow - Market Consolidation (2028-2030) - Cabka aims for organic revenue growth exceeding €240 million with operational EBITDA margins above 15%, driven by full capacity utilization [3] - The company plans to pursue inorganic growth through mergers and acquisitions (M&A) to exceed €300 million when the balance sheet allows [3] - Competitive advantages in ESG profile, innovation leadership, and customer-centric approach will be leveraged for growth [3] Management Commentary - The CEO emphasizes that the staged growth plan provides a clear roadmap for sustainable value creation, with Phase 1 focusing on operational excellence and margin improvement to set the stage for Phase 2's market consolidation opportunities [4] Company Overview - Cabka specializes in recycling plastics from post-consumer and post-industrial waste into innovative reusable transport packaging (RTP), enhancing logistics chain sustainability [5] - The company leads the industry with an integrated approach that closes the loop from waste to recycling to manufacturing, backed by its own innovation center [6]