INVESTOR PRESENTATION AUGUST 2025 1 78.156.207 169.206.233 77.115.161 Disclaimer •FORWARD-LOOKING STATEMENTS •The information in this presentation and in any oral statements made in connection herewith contains forward-looking statements that involve risks and uncertainties. When used in connection with this document, the words "believes," "plans," "expects," "anticipates," "forecasts," "intends," "projects," "continue," "may," "will," "could," "should," "future," "potential," "estimate" or the negative of ...

M Foundation August 8, 2025 07:19 PM GMT Investor Presentation | Asia Pacific China Energy and Batteries Morgan Stanley Asia Limited+ Jack Lu Equity Analyst Jack.Lu@morganstanley.com +852 2848-5044 Morgan Stanley does and seeks to do business with companies covered in Morgan Stanley Research. As a result, investors should be aware that the firm may have a conflict of interest that could affect the objectivity of Morgan Stanley Research. Investors should consider Morgan Stanley Research as only a single fact ...

Key Takeaways ED earned 67 cents per share in Q2, up 13.6% year over year and slightly above the consensus estimate.Q2 revenues rose 11.7% to $3.60B, driven by higher gas, steam, electric and non-utility sales.ED reaffirmed 2025 EPS guidance of $5.50-$5.70, matching the prior forecast range.Consolidated Edison, Inc. (ED) reported second-quarter 2025 adjusted earnings of 67 cents per share, which topped the Zacks Consensus Estimate of 66 cents by 1.5%. The bottom line also improved 13.6% from 59 cents record ...

Alliant Energy (LNT) came out with quarterly earnings of $0.68 per share, beating the Zacks Consensus Estimate of $0.62 per share. This compares to earnings of $0.57 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of +9.68%. A quarter ago, it was expected that this electric and gas utility parent company would post earnings of $0.57 per share when it actually produced earnings of $0.83, delivering a surprise of +45.61%.Over the l ...

Financial Data and Key Metrics Changes - The company generated $2.6 billion in operating cash flow in Q2 2025, which is higher than the same period in 2024 despite lower oil prices, with WTI averaging $11 per barrel lower [4][6] - Adjusted profit was reported at $0.39 per diluted share, while reported profit was $0.26 per share [21] - Free cash flow before working capital was approximately $700 million, driven by strong operational performance [21][22] - The effective tax rate increased due to a shift in the jurisdictional mix of income, with an adjusted effective tax rate expected to be around 32% for Q3 [22] Business Line Data and Key Metrics Changes - Oil and gas production reached 1.4 million BOE per day, exceeding guidance, with notable performance in The Rockies and an uplift from the Mukhaizna contract extension [6][22] - The Midstream and Marketing segment generated positive earnings, outperforming guidance due to improved crude marketing margins and gas marketing optimization [11][26] - OxyChem's pretax income fell below guidance due to weaker pricing for caustic and PVC, leading to a lowered full-year guidance range of $800 million to $900 million [27][28] Market Data and Key Metrics Changes - The company reported a 13% reduction in year-to-date Permian unconventional well costs compared to 2024, driven by enhanced efficiencies [10] - The Gulf of America production was impacted by curtailments and maintenance, but new projects are expected to improve production capacity in the future [54][63] Company Strategy and Development Direction - The company is focused on optimizing its portfolio and has achieved $950 million in additional divestitures since Q1 2025, totaling nearly $4 billion since January 2024 [19][30] - The company is committed to reducing debt, having repaid approximately $7.5 billion in the last 13 months, significantly ahead of its targets [5][31] - The company sees significant potential in carbon capture and enhanced oil recovery (EOR), with a belief that CO2 EOR could recover an additional 50 to 70 billion barrels of oil in the U.S. [16][71] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the sustainability of cost reductions achieved through operational efficiencies and structural changes [9][22] - The outlook for the second half of the year remains strong, with expectations for increased production across all main operating areas [24][26] - The company anticipates that the recent legislative changes will provide significant cash tax benefits, estimated at $700 million to $800 million [29][36] Other Important Information - The Stratos project is on track to start capturing CO2 this year, with significant milestones achieved in its development [12][14] - The company has signed additional commercial agreements for carbon dioxide removal sales, indicating a strong market for carbon removal technologies [14] Q&A Session Summary Question: Follow-up on cash tax rate and benefits from the One Big Beautiful Bill - Management confirmed that 35% of the estimated $700 million to $800 million cash tax benefit will be realized in 2025, with the remainder in 2026 [35][36] Question: Free cash implications of the Oman contract - Management highlighted the competitive nature of the Oman contract and its potential for future production increases [38][40] Question: Strategic focus on carbon business and point source opportunities - Management reiterated ongoing interest in point source capture and the potential for industrial sources of CO2 to collaborate [46][47] Question: Production capacity in the Gulf of America - Management discussed the expected ramp-up in production due to water floods and ongoing optimization efforts [54][55] Question: Trajectory of OxyChem income and PVC oversupply - Management indicated that the PVC oversupply is influenced by global market conditions, particularly from China, and does not expect a significant recovery in 2026 [84][85] Question: EOR opportunities and shale EOR viability - Management acknowledged the economic viability of shale EOR with current crude prices and emphasized the need to address CO2 availability constraints [97]

Financial Highlights - ConocoPhillips reported adjusted earnings of $1.793 billion in 2Q25, compared to $2.329 billion in 2Q24[25] - The adjusted EPS was $1.42 in 2Q25[6] - Cash from operations (CFO) was $4.7 billion in 2Q25[6] - Free cash flow (FCF) was $1.4 billion in 2Q25[6] - The company had an ending cash balance of $5.7 billion in 2Q25[6] - The company remains on track to distribute about 45% of full-year CFO to shareholders[6] Production and Sales - 2Q25 production averaged 2,391 MBOED, exceeding the high end of the guidance range (2,340 – 2,380 MBOED)[6] - An agreement to sell Anadarko Basin assets for $1.3 billion in proceeds was announced[6] - Full-year production midpoint remains unchanged, even with the announced Anadarko sale[6] - The company expects APLNG full-year distributions of $0.8 billion, with $0.5 billion in 3Q and $0.1 billion in 4Q[43] Marathon Oil Integration and Synergies - Marathon Oil integration is complete, with >25% increase in low cost of supply resource[8] - >$1 billion of synergies are on track, plus >$1 billion one-time benefits[8] - ~30% fewer rigs and frac crews are delivering more combined production[8] - >$2.5 billion of announced asset sales ahead of schedule, with $5 billion of total asset sales now expected[8] - >$7 billion of incremental FCF is expected by 2029[8]

APA (APA) Q2 2025 Earnings Call August 07, 2025 11:00 AM ET Speaker0Day, and thank you for standing by. Welcome to the APA Corporation's Second Quarter twenty twenty five Financial and Operational Results Conference Call. At this time, all participants are in a listen only mode. After the speakers' presentation, there will be a question and answer session. To ask a question during the session, you will need to press 11 on your telephone.You will then hear an automated message advising your hand is raised. T ...

Pampa Energía (PAM) Q2 2025 Earnings Call August 07, 2025 10:00 AM ET Speaker0Part of twenty twenty five Results Video Conference. We would like to inform you that this event is being recorded. All participants will be in listen only mode during the presentation. After the company's remarks, there will be a Q and A session. Questions can only be sent in writing through Zoom.Should any participant need assistance, please send us a chat message. Before continuing, please read the disclaimer on the second page ...

Civitas Resources (CIVI) Q2 2025 Earnings Call August 07, 2025 08:00 AM ET Speaker0Good day, and thank you for standing by. Welcome to the Civitas Resources Second Quarter twenty twenty five Earnings Conference Call and Webcast. My name is Morgan, and I will be your operator for today's call. Please be advised that today's conference call is being recorded. I will now turn the call over to Brad Whitmarsh, Head of Investor Relations.Brad, please go ahead.Speaker1Thanks, Morgan. Good morning, everyone, and th ...

GeoPark Limited (GPRK) Q2 2025 Earnings Call August 06, 2025 10:00 AM ET Speaker0Good morning, and welcome to the GeoPark Limited Conference Call following the Results Announcement for the Second Quarter Ended 06/30/2025. After the speakers' remarks, there will be a question and answer session. If you do not have a copy of the press release, it is available at the Invest With Us section on the company's corporate website at wwwwww.geopark.com. A replay of today's call may be accessed through this webcast in ...