Earnings Presentation Q3 2025 Results October 30, 2025 Forward-Looking Statements This presentation and other written or oral statements made from time to time by management contain "forward looking statements" as defined in the Private Securities Litigation Reform Act of 1995 and involve certain risks and uncertainties. The words "anticipate", "believe", "estimate", "expect", "intend", "will", "would", "could", "can", "should", "targeting", "projecting", "driving", "future", "plan", "predict", "may" and si ...

Group 1 - General Dynamics Corporation (NYSE:GD) is recognized as one of the best performing dividend stocks in 2025, with a stock price increase of over 25% since the beginning of the year [2] - The company is a key supplier of defense products to the US government, including tanks, heavy land vehicles, destroyers, and nuclear-powered submarines [2][3] - General Dynamics also owns Gulfstream, a leading manufacturer of business jets, which has faced challenges in recovering from the 2008-09 recession [3] Group 2 - The company has a strong dividend policy, having increased its payouts for 28 consecutive years, currently offering a quarterly dividend of $1.50 per share and a dividend yield of 1.84% as of September 15 [4]

SPK-30 Strategy Overview - Spark's SPK-30 strategy aims to help New Zealand win big in a digital world, focusing on better networks and customer experiences[52] - The strategy builds on competitive advantages, including market leadership in mobile and broadband, a reliable mobile network, and a trusted brand[46] - Key strategic choices involve leading in core connectivity and simplifying/optimizing beyond the core[53] Financial Performance and Targets - In FY25, Spark's ROIC was 8.7%, outperforming most global peers[46] - The DC Co transaction values the data center business at $705 million, representing an EV/EBITDA multiple of 30.8x based on FY25 pro-forma EBITDA[67] - Spark expects to receive initial cash proceeds of ~$486 million at completion, with additional deferred cash proceeds of up to ~$98 million contingent on performance-based objectives by the end of CY27[67] - The company targets annualised savings of $150 million-$180 million by FY30 from a FY24 baseline[212, 213] - Spark aims for a low single-digit CAGR in EBITDAI from FY25-FY30 and a mid-single-digit CAGR in free cash flow from FY25-FY30[212, 213] Market Position and Growth Areas - Spark is the 1 mobile provider with 41.4% market share[92] - Spark is the 1 broadband provider with ~32% market share[102] - Wireless Broadband (WBB) accounts for 32% of Spark's broadband base[102] - 4G network reaches 99% of New Zealanders, and >50% of the population is reached by 5G network[114, 147]

Financial Performance - IT Services revenue reached $2,587.4 million in Q1'26 [26] - IT Services revenue decreased by 0.3% QoQ and 1.5% YoY in reported terms [26] - Non-GAAP IT Services revenue decreased by 2.0% QoQ and 2.3% YoY in constant currency terms [26] - Net income for the quarter was ₹33.3 billion, a decrease of 6.7% QoQ and an increase of 10.9% YoY [26] - EPS was ₹3.2 ($0.041), a decrease of 6.7% QoQ and an increase of 10.8% YoY [26] - IT Services Operating Margins was at 17.3%, down by 0.2% QoQ and expansion of 0.8% YoY [26] Bookings and Deals - Total bookings were $4,971 million, up by 24.1% QoQ and 50.7% YoY in constant currency [28] - Large deal bookings were $2,666 million, an increase of 49.7% QoQ and 130.8% YoY in constant currency [28] Other Key Metrics - The company has 1,282 active global clients [10] - Top customer concentration is at 4.7% of revenue [12]

Financial Performance - IT Services revenue reached $2,587.4 million in Q1'26 [26] - IT Services revenue decreased by 0.3% QoQ and 1.5% YoY in reported terms [26] - Non-GAAP IT Services revenue declined by 2.0% QoQ and 2.3% YoY in constant currency [26] - Net income for the quarter was ₹33.3 billion, a decrease of 6.7% QoQ but an increase of 10.9% YoY [26] - EPS was ₹3.2 ($0.041), down 6.7% QoQ but up 10.8% YoY [26] - IT Services Operating Margins stood at 17.3%, down by 0.2% QoQ but up 0.8% YoY [26] - Total bookings were $4,971 million, up 24.1% QoQ and 50.7% YoY in constant currency [28] - Large deal bookings reached $2,666 million, an increase of 49.7% QoQ and 130.8% YoY in constant currency [28] Other Key Metrics - The company has 1,282 active global clients [10] - The top customer concentration is at 4.7% of revenue [12] - The company has 16 customers with > $100M revenue [12]