February 10, 2026 4Q & Full Year 2025 Financial Results Overview DuPont de Nemours, Inc . ("DuPont") completed the previously announced separation of its Electronics business (the "Electronics Separation") into an independent public company, Qnity Electronics, Inc . ("Qnity"), by way of the distribution to DuPont's stockholders of record as of October 22, 2025 of all the issued and outstanding common stock of Qnity on November 1, 2025 (the "Qnity Distribution") . As a result, beginning in the fourth quarter ...

Core Viewpoint - Matthews International Corporation has reached an agreement with Barington Capital, resulting in Barington withdrawing its director nominations, which is seen as a constructive resolution for all shareholders [1][2]. Group 1: Agreement Details - The agreement includes Barington agreeing to standstill provisions and other restrictions, with full details to be disclosed in a Current Report on Form 8-K with the U.S. Securities and Exchange Commission [2][3]. - The dialogue between Matthews and Barington has provided valuable insights that have helped refine Matthews' ongoing strategic initiatives [2]. Group 2: Company Strategy and Governance - Matthews has taken decisive steps over the past 12 months to simplify its business mix, strengthen its balance sheet, and enhance board composition and corporate governance [2]. - The company is focused on advancing its strategic review and positioning itself for long-term shareholder value creation [2]. Group 3: Company Overview - Matthews International Corporation operates through two core global businesses: Industrial Technologies and Memorialization, both aimed at driving operational efficiency and long-term growth [4]. - The Industrial Technologies segment is a leading global innovator in precision technologies, while the Memorialization segment provides memorial products primarily to cemetery and funeral home customers [4]. - The company has over 5,400 employees across 19 countries on 4 continents [4]. Group 4: Barington Capital Overview - Barington Capital Group is a value-oriented activist investment firm that invests in undervalued publicly traded companies, aiming for significant appreciation through changes in corporate strategy or governance [5]. - The firm utilizes its strategic, operating, and boardroom experience to assist companies in improving long-term shareholder value [5].

Company Overview - MKS has established a strong track record in mergers and acquisitions (M&A), contributing to its current market position [2]. Conference Presentation - The 28th Annual Needham Growth Conference featured a presentation from MKS, with CEO John Lee and Chief Accounting Officer Michelle McCarthy in attendance [1]. - Jim Ricchiuti, a Senior Analyst at Needham, introduced the session and highlighted MKS's reputation in the industrial technologies sector [2][3].

Summary of MKS Conference Call Company Overview - MKS has a strong track record in mergers and acquisitions (M&A) and organic growth, focusing on being foundational to all technologies needed for advanced electronics [2][3] - The company addresses 85% of all wafer fab equipment globally, indicating a significant market share [3] Industry Insights - The advanced electronics industry is evolving, with AI being a major driver of growth, particularly in equipment orders for plating chemistry [8][9] - MKS's E&P (Electronics & Packaging) segment has seen substantial growth, contributing approximately 28% to revenues, with a growth rate of over 20% in the first nine months of 2025 [5][8] Key Growth Drivers - AI has driven demand for higher layer count HDI (High-Density Interconnect) and MLB (Multi-Layer Board) PCBs, leading to increased orders for plating chemistry and equipment [9][10] - MKS estimates that chemistry revenues related to AI now represent about 10% of total revenues, doubling from 2024 [14] Equipment and Revenue Dynamics - MKS anticipates a revenue timeline of 18 months from order to revenue recognition for equipment, with high gross margin chemistry revenues expected to follow [20][21] - For every $100 million of equipment sold, MKS expects to generate $20-$40 million in high gross margin chemistry annually [20] Market Position and Competitive Landscape - MKS is a market leader in chemistry and packaging, with a competitive edge due to its integrated approach of providing equipment, chemistry, and laser drilling [32][35] - The company has a strong R&D team and extensive tech centers co-located with customers, enhancing its ability to solve complex problems quickly [29][30] Financial Performance - MKS achieved gross margins of over 47% and aims for operating margins of 26% or more, with a disciplined approach to managing costs [62][64] - The company has prioritized deleveraging, paying down $400 million in debt in 2025, with a target net leverage of 2 to 2.5 times [71] Semiconductor Market Outlook - The semiconductor business has seen a 15% growth in the first nine months of 2025, driven by inventory burn and NAND upgrades [47][48] - MKS is well-positioned to benefit from the anticipated growth in DRAM and HBM (High Bandwidth Memory) markets, particularly in depth etch processes [54][55] Future Expectations - MKS expects continued healthy demand in 2026, driven by the equipment installed in 2025 and the ongoing growth in AI-related applications [25][24] - The company is preparing for a potential sustained ramp in semiconductor demand, with customers looking to secure supply chains ahead of anticipated growth [58][59] Conclusion - MKS is strategically positioned in the advanced electronics and semiconductor markets, leveraging its strong market share, integrated solutions, and R&D capabilities to capitalize on growth opportunities driven by AI and evolving industry demands [2][3][35]

Fourth Quarter Fiscal 2025 Earnings Teleconference November 21, 2025 Joseph C. Bartolacci President and Chief Executive Officer Steven F. Nicola Chief Financial Officer and Treasurer www.matw.com | Nasdaq: MATW DISCLAIMER Any forward-looking statements contained in this presentation are included pursuant to the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995. These forward-looking statements include, but are not limited to, statements regarding the expectations, hopes, belie ...

Core Insights - J. Michael Nauman has been elected as the next Chairman of Matthews International Corporation, effective after the 2026 Annual Meeting of Shareholders, succeeding Alvaro Garcia-Tunon [1][2] - Nauman brings over 35 years of experience in commercial, strategic, and financial roles, previously serving as President and CEO of Brady Corporation and Executive Vice President at Molex [2][3] - The transition in leadership is seen as pivotal for Matthews, with Nauman's technical expertise and M&A experience expected to drive sustainable growth and long-term value creation for the company [3] Company Overview - Matthews International Corporation operates through two main segments: Industrial Technologies and Memorialization, focusing on operational efficiency and long-term growth through innovation and strategic expansion [4] - The Industrial Technologies segment is a global innovator in precision technologies, while the Memorialization segment provides products such as memorials and cremation equipment to cemetery and funeral home customers [4] - The company has over 5,400 employees across 19 countries, committed to delivering high-quality products and services [4]

Core Insights - Matthews International Corporation plans to release its fourth quarter and fiscal year 2025 earnings results on November 20, 2025, after market close [1] - A conference call and webcast will be held on November 21, 2025, at 9:00 a.m. Eastern Time to discuss financial and operational results, featuring CEO Joseph C. Bartolacci and CFO Steven F. Nicola [2][3] Company Overview - Matthews International operates through two main segments: Industrial Technologies and Memorialization, focusing on operational efficiency and long-term growth through innovation and strategic expansion [4] - The Industrial Technologies segment is a global innovator in precision technologies and intelligent processes, while the Memorialization segment provides products such as memorials, caskets, and cremation equipment to cemetery and funeral home customers [4] - The company also has a significant investment in Propelis, a brand solutions business that offers integrated solutions including brand creative and content production [4] - Matthews International employs over 5,400 people across 19 countries on four continents [4]

Core Insights - Matthews International Corporation (NASDAQ:MATW) is recognized as one of the Best Dividend Stocks for a Dividend Champions List, highlighting its strong dividend performance [1] Company Strategy - The company operates across diverse sectors, including industrial technologies, brand solutions, and memorialization, and is focused on reshaping its portfolio for long-term growth [2] - Key strategies include tailoring offerings in memorialization to align with demographic trends, leveraging innovation in industrial technologies, and maximizing value from joint ventures post-SGK divestiture [3] - Emphasis is placed on disciplined cost controls, steady cash flow, and simplifying the reporting structure, particularly regarding the Propelis partnership [3] Dividend Performance - Matthews International Corporation has achieved its 31st consecutive year of dividend growth as of 2025, making it a strong candidate for income investors [4] - The current quarterly dividend is $0.25 per share, resulting in a dividend yield of 4.01% as of October 2 [4]

Core Insights - Matthews International Corporation announced the retirement of Chief Financial Officer Steven F. Nicola effective December 31, 2025, after over three decades with the company [1][2] - Daniel E. Stopar has been appointed as the new CFO and Treasurer, effective December 1, 2025, bringing extensive financial experience from his previous roles within Matthews and other companies [2] Company Overview - Matthews International operates through two main segments: Industrial Technologies and Memorialization, focusing on operational efficiency and long-term growth through innovation and strategic expansion [3] - The Industrial Technologies segment is a leading global innovator in precision technologies and intelligent processes, while the Memorialization segment provides products such as memorials, caskets, and cremation equipment to cemetery and funeral home customers [3] - The company has a significant investment in Propelis, a brand solutions business that offers integrated solutions including brand creative, packaging, and content production [3] - Matthews International employs over 5,400 individuals across 19 countries on four continents, dedicated to delivering high-quality products and services [3]

Group 1 - Matthews International (NASDAQ: MATW) reported earnings with notable performance in the Industrial Technologies segment, particularly in warehouse automation, which has shown signs of recovery [2] - The company is part of an investment group called The Value Lab, which focuses on long-only value investment strategies and aims for a portfolio yield of approximately 4% [1][2] - The Valkyrie Trading Society, another analytical team, emphasizes high conviction and obscure developed market ideas that are expected to yield non-correlated and outsized returns in the current economic climate [3] Group 2 - The Value Lab provides members with real-time portfolio updates, 24/7 chat support, regular global market news, feedback on stock ideas, monthly new trades, quarterly earnings write-ups, and daily macro opinions [2]