Q4 & FY 2025 EARNINGS PRESENTATION FEBRUARY 25, 2026 1 DISCLAIMER – FORWARD LOOKING STATEMENTS & NON-GAAP DISCLOSURE This presentation contains forward-looking statements that involve substantial risks and uncertainties. We intend such forward-looking statements to be covered by the safe harbor provisions for forward-looking statements contained in Section 21E of the Securities Exchange Act of 1934, as amended (the "Exchange Act"), and Section 27A of the Securities Act of 1933, as amended (the "Securities A ...

BRISTOW GROUP REPORTS FOURTH QUARTER AND FULL YEAR 2025 RESULTS [Accessibility Statement] Skip NavigationACHIEVES 2025 OUTLOOK AND DECLARES DIVIDENDHOUSTON, Feb. 25, 2026 /PRNewswire/ --Full Year Highlights:- Declared a quarterly cash dividend of $0.125 per share of common stock- Refinanced Senior Notes with an upsized $500 million transaction at a lower coupon rate of 6.75% and extended maturity of 2033- Operating cash flow of $198.4 million in 2025 compared to $177.4 million in 2024, and Adjusted Free Cas ...

Core Insights - Creatd, Inc. announced that Catheter Precision, Inc. has acquired a 20% equity interest in its subsidiary Fly Flyte, Inc. through a secondary purchase from an existing shareholder, aligning with Creatd's strategy of nurturing technology-enabled subsidiaries while maintaining operational independence [1] - The CEO of Creatd emphasized the company's commitment to building a portfolio of small-cap operating companies, aiming to address market gaps created by the contraction of middle markets over the last two decades [2] - Fly Flyte is currently operational, providing AI-enabled regional aviation services that enhance accessibility and convenience, leveraging certified aircraft and established routes for real-time revenue generation [2] Strategic Developments - The partnership with NYSE-listed VTAK expands Fly Flyte's investor network, enhancing its growth potential [4] - Creatd is actively pursuing multiple acquisition discussions to advance its portfolio strategy [4] - Fly Flyte is positioned to transform regional aviation through its focus on accessibility, convenience, and technology-driven operations [4] Company Overview - Creatd, Inc. focuses on acquiring and growing technology-driven companies in sectors such as aviation, media, and advisory services, utilizing a shared services model to enhance efficiency and market reach [3]

Core Viewpoint - AAR CORP. has appointed Dylan Wolin as Chief Financial Officer, effective February 23, 2026, to enhance its financial leadership and strategic execution [1] Company Overview - AAR CORP. is a leading provider of aviation services to commercial and government operators, MROs, and OEMs, with operations in over 20 countries [1] - The company operates through four segments: Parts Supply, Repair & Engineering, Integrated Solutions, and Expeditionary Services [1] Leadership Changes - Dylan Wolin will oversee finance, accounting, tax, treasury, investor relations, and corporate development [1] - Wolin previously held leadership roles at AAR from 2017 to 2024, contributing to strategic development and capital markets activities [1] - Sarah Flanagan, the Interim CFO, will return to her previous role as Vice President, Financial Operations, effective February 23, 2026 [1] Strategic Insights - Wolin's return is expected to bolster AAR's growth strategy, leveraging his operational and strategic experience [1] - The company reaffirms its guidance for the third fiscal quarter and full fiscal year issued on January 6, 2026, indicating confidence in its financial outlook [1]

Group 1: Market Overview - Markets are cyclical, and sentiment can shift quickly, indicating a potential return of risk appetite [1] - Leadership in stocks is crucial during market upswings, as not all stocks will rise equally [1] Group 2: Singapore Exchange Limited (SGX) - SGX is recognized as a long-term dividend income player and is Singapore's sole approved stock exchange, allowing it to generate strong cash flows with low capital expenditure [2] - In the first half of fiscal year 2026, SGX reported a net revenue increase of 10.1% YoY to S$636.6 million and an adjusted net profit rise of 11.6% YoY to S$357.1 million [3] - The interim quarterly dividend declared is S$0.110 per share, contributing to a total dividend of S$0.2175 for 1HFY2026, a 20.8% YoY increase [4] Group 3: SATS Ltd - SATS is positioned as a cyclical recovery play, benefiting from the rebound in global air travel and increased cargo volumes, with a revenue increase of 9.1% YoY to S$3.08 billion in 1HFY2026 [5] - The net profit for SATS in 1HFY2026 was S$149.8 million, up 11.2% from the previous year [5] - An interim dividend of S$0.02 represents a 33% increase from the previous year, although inflation and economic slowdown may pose challenges [6] Group 4: Frasers Centrepoint Trust (FCT) - FCT is a quality REIT focused on suburban retail malls, which comprise 97.3% of its portfolio, providing stable income from essential services [7][8] - The trust has a debt of S$421.3 million due in FY2026 and benefits from refinancing at lower rates, with an average borrowing cost of 3.5% [8][9] - FCT has consistently paid dividends since 2006, with a 0.6% YoY increase in distribution per unit to S$0.12113 for FY2025 [9] Group 5: iFAST Corporation - iFAST is a rapidly growing fintech company in Singapore, driven by increasing assets under administration and recurring fee income [10] - In 3Q2025, gross revenue reached S$135.82 million, a 37% YoY increase, with net profit rising 54.7% YoY to S$26.01 million [11] - The company announced a third interim dividend of S$0.023 per share, a 53% increase from the previous year, with guidance suggesting a potential payout of S$0.082 for FY2025, indicating confidence in cash flow stability [11]

Core Viewpoint - AAR Corp. has shown strong performance in its latest earnings report, with significant year-over-year growth in earnings and sales, leading to a positive outlook for the stock [2][4][10] Financial Performance - AAR reported adjusted earnings of $1.18 per share for Q2 fiscal 2026, exceeding the Zacks Consensus Estimate of $1.02 by 15.7% and improving 31.1% from the previous year's 90 cents [2] - The company generated net sales of $795.3 million, surpassing the Zacks Consensus Estimate of $767 million by 3.7% and increasing 15.9% from $686.1 million in the same quarter last year [4] Segment Performance - Sales in the Parts Supply segment reached $353.6 million, reflecting a 29.2% year-over-year increase [5] - Repair & Engineering segment sales were $244.5 million, up 6.9% from the prior year [5] - Integrated Solutions sales amounted to $175.8 million, a 7.6% increase year-over-year [5] - Expeditionary Services recorded sales of $21.4 million, up 5.9% from the previous year [5] Operational Efficiency - AAR's adjusted operating margin improved from 9.2% to 10.2%, driven by higher volume and profitability in new parts distribution [6] - Selling, general and administrative expenses decreased to $88.7 million from $133.1 million a year ago [6] Financial Position - As of November 30, 2025, AAR's cash and cash equivalents were $75.6 million, down from $96.5 million as of May 31, 2025 [7] - Long-term debt totaled $952.7 million, slightly down from $968 million as of May 31, 2025 [7] - Net cash used from operating activities in the first six months of fiscal 2026 was $31.3 million, compared to a net cash provided of $3.4 million in the same period last year [7] Market Sentiment - There has been an upward trend in consensus estimates, with a shift of 11.01% in the past month [8] - AAR has a strong Growth Score of A but lags in Momentum Score with an F, resulting in an aggregate VGM Score of B [9] - The stock holds a Zacks Rank 2 (Buy), indicating expectations for above-average returns in the coming months [10]

Core Viewpoint - VSE Corporation has announced a definitive agreement to acquire Precision Aviation Group, which is a significant strategic move for the company [2]. Group 1: Acquisition Details - The acquisition of Precision Aviation Group is expected to enhance VSE Corporation's capabilities and market position [2]. - The announcement was made during a conference call that included key executives from VSE Corporation [2]. Group 2: Financial Expectations - VSE Corporation provided preliminary results for the fourth quarter and full year 2025 during the call, indicating a focus on future financial performance [2]. - The company is utilizing non-GAAP financial measures in its presentation, with reconciliations to GAAP measures available where applicable [3].

Industry Overview - Rising global aircraft deliveries, expanding airline fleet, and growing demand for maintenance, repair, and overhaul services are driving growth across the aviation services industry, supported by a steady recovery in global air travel and ongoing defense modernization programs [1] - Increased investor interest in aerospace service providers such as Astronics Corporation (ATRO) and AAR Corp. (AIR) is evident due to these trends [1] Company: Astronics Corporation (ATRO) - Astronics specializes in advanced aircraft electrical systems, lighting technologies, and connectivity solutions that enhance passenger experience and cockpit modernization across commercial and military platforms [2] - The company is benefiting from healthy demand in both defense and commercial aerospace markets, with rising global defense spending supporting military aircraft programs and recovery in air travel prompting airlines to invest in cabin power access and in-flight connectivity solutions [4] - Preliminary fourth-quarter revenues for 2025 are projected between $236 million and $239 million, exceeding management's guidance, with full-year revenues around $860 million, indicating solid year-over-year growth [5] - Preliminary quarterly bookings are about $257 million, with full-year orders of roughly $924 million, supporting revenue visibility [5] - The preliminary revenue outlook for 2026 is between $950 million and $990 million, indicating further growth driven by sustained defense spending and continued airline investment in aircraft upgrades [6] - The Zacks Consensus Estimate for ATRO's 2026 sales and earnings per share (EPS) implies improvements of 12.5% and 36.4%, respectively, from the previous year [11] Company: AAR Corp. (AIR) - AAR operates as a diversified aviation services company, providing aftermarket support, parts supply, and integrated solutions to airlines, government customers, and defense contractors worldwide [2] - AIR's recent performance has been bolstered by solid quarterly results, with a reported revenue growth of 16% and a 31% increase in net adjusted earnings compared to the previous year [7] - The company is enhancing its market position through facility expansion and ongoing technology initiatives, including the expansion of its Airframe MRO facility in Oklahoma City to meet growing demand [8] - Positive momentum in AIR's Trax business includes a multi-year contract extension with Air Atlanta Icelandic, which is expected to improve maintenance efficiency and strengthen AIR's technology portfolio [9][10] - The Zacks Consensus Estimate for AIR's fiscal 2026 sales implies a year-over-year improvement of 15.2%, while EPS suggests a 24% surge [12] Comparative Analysis - In the past year, ATRO has significantly outperformed AIR, with ATRO's shares surging 331.5% compared to AIR's 51.1% increase [13] - Astronics is trading at a premium with a forward 12-month price/earnings ratio of 30.24X, compared to AIR's 19.43X [15] - Return on equity (ROE) indicates that ATRO is more effective at converting equity financing into profits compared to AIR [16] Conclusion - Both Astronics and AAR are well-positioned to benefit from favorable aerospace industry trends, but Astronics appears better placed for near-term outperformance due to strong demand across commercial and defense markets, solid order momentum, and an improving earnings outlook [19] - AAR continues to benefit from healthy MRO demand and operational initiatives, but Astronics' stronger growth visibility makes it a more compelling near-term investment [20]

Core Viewpoint - AAR CORP. has completed the expansion of its Airframe MRO facility in Oklahoma City to meet increased demand for its services, which includes the addition of maintenance bays for various aircraft models [1][2]. Company Expansion - The facility expansion covers over 80,000 square feet and includes three maintenance bays specifically designed for all 737 variants [2]. - The expansion is part of a long-term commitment to service additional aircraft from Alaska Airlines [2]. Job Creation and Community Impact - The expansion has resulted in the creation of 200 additional full-time jobs at AAR [3]. - AAR has a long-standing operational history in Oklahoma City, with its maintenance operations dating back over 50 years [4]. Strategic Partnerships - AAR's relationship with Alaska Airlines is highlighted as a key aspect of the expansion, emphasizing trust and support between the two companies [4]. - The upcoming digitization of maintenance processes in collaboration with Alaska Airlines is also noted as a significant development [3]. Company Overview - AAR is a global aerospace and defense aftermarket solutions provider, operating in over 20 countries and supporting both commercial and government customers through various segments [6].

Core Viewpoint - Bristow Group Inc. successfully closed a private offering of $500 million in senior secured notes and amended its asset-based revolving credit facility, enhancing its financial position and operational flexibility [1][2]. Financing Details - The company issued $500 million of 6.750% senior secured notes due 2033 and amended its asset-based revolving credit facility, extending its maturity to 2031 [1][5]. - A portion of the proceeds from the notes was used to satisfy approximately $397 million of outstanding 6.875% Senior Secured Notes due 2028, resulting in the release of liens securing those notes [2]. Credit Facility Amendments - The amendment to the ABL Facility reduced total commitments from $85 million to $70 million, with the option to increase commitments up to $105 million [5]. Company Overview - Bristow Group is a leading global provider of vertical flight solutions, primarily serving offshore energy companies and government entities with services such as personnel transportation, search and rescue, and medevac [6]. - The company operates in three segments: Offshore Energy Services, Government Services, and Other Services, with a diverse customer base across multiple countries [6][7].