Second Quarter 2025 Investor Presentation © 2023 United Rentals, Inc. All rights reserved. I 1 Introductory information Unless otherwise specified, the information in this presentation, including forward-looking statements, is as of our most recent earnings call held on July 24, 2025. We make no commitment to update any such information contained in this presentation. Certain statements in this presentation are forward-looking statements within the meaning of Section 21E of the Securities Exchange Act of 19 ...

Core Insights - Draganfly Inc. announced the sale of Commander 3XL Unmanned Aerial Vehicle (UAV) systems to a prominent defense contractor specializing in persistent surveillance technologies for military operations [1][2] - The Commander 3XL features a modular payload architecture, extended endurance, and AI-enabled mission control, making it suitable for military-grade surveillance programs [3][4] - This sale signifies a strategic expansion for Draganfly in the defense sector, enhancing capabilities for military and border surveillance systems [4] Company Overview - Draganfly Inc. is recognized for its innovative drone solutions and software, serving various industries including public safety, agriculture, industrial inspection, security, mapping, and surveying [5] - The company has over 25 years of experience in delivering award-winning technology and is committed to providing efficient solutions and first-class services globally [5]

Core Points - Volatus Aerospace Inc. has successfully closed a fully subscribed non-brokered listed issuer financing exemption (LIFE) private placement, raising approximately $10 million by issuing 19,230,770 units at a price of $0.52 per unit [1][2] - Each unit consists of one common voting share and one-half of a common share purchase warrant, with each whole warrant allowing the purchase of one common share at an exercise price of $0.76 for 36 months [1] - The net proceeds from the LIFE Financing will be used for expansion into the defense business segment, increasing inventory of drone systems, and for general working capital [2] Financial Details - The LIFE Offering generated gross proceeds of approximately $10 million [1] - The company paid an aggregate of $600,000 as finder's fees related to the LIFE Offering [3] Regulatory Information - The LIFE Offering is subject to final approval from the TSX Venture Exchange (TSXV) [3] - The securities issued under the LIFE Offering are not subject to a hold period under applicable Canadian securities laws [4] Company Overview - Volatus Aerospace Inc. is a leader in innovative global aerial solutions, providing comprehensive services using both piloted and remotely piloted aircraft systems across various industries [6] - The company focuses on enhancing operational efficiency, safety, and sustainability through advanced aerial technologies [6]

Core Insights - Unusual Machines (UMAC) and Stantec (STN) are both engineering-focused companies innovating in the infrastructure and industrial tech sectors [1] - This comparative analysis aims to assist investors in evaluating the current situation of these companies to identify potential stock opportunities [2] Unusual Machines (UMAC) - The U.S. drone market is expected to grow at a CAGR of 12.5% from 2024 to 2033, benefiting UMAC as demand for high-tech aerial systems increases [3] - UMAC reported a 59% year-over-year increase in revenue for Q1 2025, with a gross margin of 24% despite tariff impacts, indicating effective cost optimization [4] - Government initiatives, such as the Drones for America Act, position UMAC to gain from defense sector contracts, especially with a production facility set to deliver in September 2025 [5] - However, UMAC faced a net loss of $3.3 million and an operating cash outflow of $1.2 million in Q1 2025, raising concerns about achieving positive cash flow in the next four to six quarters [6] Stantec (STN) - STN is experiencing growth due to rising demand for infrastructure, water security, and climate-resilient solutions, driven by smart city initiatives and infrastructure investments [7] - In Q1 2025, STN achieved a 13.3% year-over-year growth in net revenues, with organic revenue growth of 5.9% in the U.S. [7] - STN's Canadian revenues grew by 15% year-over-year, supported by wastewater projects and industrial developments, while the U.K. water business saw a 20% revenue increase [8] - The company demonstrated strong margin expansion, with project margins increasing by 10 basis points and adjusted EBITDA margins improving by 70 basis points [9] Financial Estimates - The Zacks Consensus Estimate for UMAC's 2025 sales is $10.4 million, indicating an 86.5% year-over-year increase, with a projected loss of 36 cents per share [11] - For STN, the 2025 sales estimate is $4.8 billion, reflecting an 11.4% year-over-year growth, with earnings expected to be $3.86 per share, a 19.5% increase [13] Valuation Comparison - STN trades at a price-to-book ratio of 5.96X, while UMAC trades at 19.21X, indicating that STN offers a more attractive valuation despite both companies trading at premiums compared to historical valuations [10][14] - The analysis suggests that STN is a buy due to its strong global infrastructure business and margin performance, while UMAC is rated as a hold due to its high valuation [16]

Ronnie Vasishta, SVP of Telecom at NVIDIA: Very pleased to be with you here today. Let me start off by saying the future telco is an AI native telco. Easy to say, but as I'm going to go through this in the next 40 minutes or so, it’s actually starting to show how we can make that happen.But we've still got to go through a few transitions to make that happen. So firstly, the concept of an AI native telco is a telco that's able to leverage AI for operations, for customer experience, and for the acceleration o ...

Trade Investigation - US Commerce Department is investigating drone imports [1] - Investigation includes parts for unmanned aerial vehicles [1] - Investigation covers a key material for solar power [1] Potential Tariffs - Possible tariffs may be imposed on drones [1] - Possible tariffs may be imposed on unmanned aerial vehicle parts [1] - Possible tariffs may be imposed on solar power material [1]

Core Viewpoint - AgEagle Aerial Systems Inc. has received a notice from NYSE American regarding its non-compliance with listing rules, but it has submitted a plan to regain compliance by October 23, 2026 [1][2][3] Group 1: Compliance and Listing Status - The company received a notice on July 8, 2025, indicating acceptance of its compliance plan submitted on May 21, 2025 [1] - The company's shares will continue to be listed on NYSE American under the symbol "UAVS" with an added designation of ".BC" for "below compliance" [2] - The company had a stockholders' deficit of $5.7 million as of December 31, 2024, and has reported losses in the last five fiscal years [3] Group 2: Actions and Future Plans - The company is actively working to regain compliance with the NYSE American listing rules within the designated plan period [4] - There is no assurance that the company will successfully regain compliance or that any potential delisting appeal would be successful [4] Group 3: Company Overview - AgEagle Aerial Systems Inc. specializes in unmanned aerial systems, sensors, and software solutions for various sectors including energy, construction, agriculture, and government [6]

Core Viewpoint - The Pentagon is increasing its focus on drone procurement, benefiting AeroVironment as its stock rises following new orders aimed at accelerating U.S. drone production and deployment [1][4]. Company Overview - AeroVironment specializes in small to mid-sized unmanned aerial vehicles (UAVs) primarily for military applications and has gained prominence as a defense contractor during the Ukraine conflict, where its drones have been integral to U.S. assistance [3][4]. Industry Trends - The U.S. military is prioritizing UAV development to remain competitive with Russia and China, with new policies allowing lower-ranked commanders to procure and test drones independently, which may create more opportunities for AeroVironment and similar companies [4][6]. - The focus on small drones over higher-end aircraft aligns with the Pentagon's strategy, potentially benefiting AeroVironment in the long term despite short-term risks from increased competition in drone procurement [4][5]. Financial Performance - AeroVironment's stock has increased over 200% in the last five years and is currently trading at more than 100 times earnings, indicating that the market has already factored in significant growth expectations [7].

Core Insights - Bowman Consulting Group Ltd. has been awarded a federal task order by the U.S. Geological Survey to lead aerial lidar data collection for the 3D Elevation Program, which aims to create a national baseline of high-resolution topographic data [1][2] - The task order covers over 8,800 square miles in regions affected by Hurricane Helene, with Bowman responsible for aerial acquisition and lidar processing, while Merrick & Company will manage the project and conduct ground surveys [2][3] - Bowman has successfully collected and processed over 150,000 square miles of lidar data under the Geospatial Products and Services Contract, reinforcing its position in high-barrier federal programs [3] Company Overview - Bowman Consulting Group is headquartered in Reston, Virginia, and employs over 2,400 staff across more than 100 locations in the U.S., providing a range of engineering and project management services [5] - The company specializes in infrastructure, technology, and project management solutions for clients in various regulated markets [5]

Core Viewpoint - SU Group Holdings Limited has secured its largest contract to date, valued at HK$88.5 million (approximately US$11.3 million), for a major hospital expansion and upgrade project in Hong Kong [1][2]. Contract Details - The contract encompasses the design, delivery, and integration of a comprehensive range of security, monitoring, public address, and safety systems for the hospital project [2]. - Technologies to be implemented include an IP-based public address system, CCTV, access control systems, alarm points, a video phone system, and a master clock system, contributing to a Smart Hospital infrastructure [2][4]. Financial Impact - Initial revenue from the project is anticipated to be recognized in Q4 2025, aligning with SU Group's strategic focus on healthcare infrastructure and smart security solutions in urban sectors [3]. Strategic Importance - The contract signifies a milestone for SU Group, enhancing its reputation and capabilities in delivering high-value security engineering projects [4]. - The healthcare sector's modernization presents opportunities for SU Group to support smarter and safer medical environments [4]. System Components and Benefits - The project includes various systems designed to enhance hospital operations: - **IP-based Public Address System**: Facilitates real-time communication across hospital zones, improving emergency alerts and coordination [7]. - **CCTV and Access Control**: Ensures safety and security for sensitive areas, preventing unauthorized access and aiding in incident investigations [7]. - **Induction Loop System**: Enhances accessibility for hearing-impaired individuals, ensuring compliance with disability access laws [10]. - **Temporary Refuge System**: Provides secure areas for mobility-impaired individuals during emergencies, complying with safety regulations [10]. - **Video Phone System**: Enables contactless communication in secure areas, useful for patient care [10]. - **Master Clock System**: Synchronizes time across departments, critical for surgeries and medication delivery [10]. Company Overview - SU Group Holdings Limited is an integrated security-related services company in Hong Kong, providing security engineering services, guarding, and vocational training for over two decades [8].