Platform Origination Deep Dive Apollo Global Management November 2023 Forward Looking Statements and Other Important Disclosures In this presentation, references to "Apollo," "we," "us," "our" and the "Company" refer collectively to Apollo Global Management, Inc. and its subsidiaries, or as the context may otherwise require. This presentation may contain forward- looking statements that are within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchang ...

Company Strategy and Focus - The company is committed to connecting consumers to businesses and financial institutions (2C2B2F)[12] - Priorities remain unchanged in execution, focusing on compliance, risk management, customer relationship, and organizational efficiency[21] - The company is optimizing its customer development strategy to deal with external uncertainty, focusing on premium customers, customer credit identification, and customer acquisition efficiency[28] - The company's ecosystem aims to acquire high-quality customers through multi-scenarios, leveraging a huge funding pool and diverse consumption scenarios[45] Financial Performance (Q3 2025) - Loan origination reached 509 billion RMB, a decrease of 37% QoQ[49] - Net income was 521 million RMB, an increase of 19% QoQ[49] - Total operating revenue was 3417498 million RMB, a decrease of 47% QoQ[50] - Credit facilitation service income was 2616805 million RMB, an increase of 153% QoQ[50] - Tech-empowerment service income was 456044 million RMB, a decrease of 451% QoQ[50] - Installment e-commerce platform service income was 344649 million RMB, a decrease of 293% QoQ[50]

Summary of Julius Bär Gruppe Trading Update Company Overview - **Company**: Julius Bär Gruppe (OTCPK:JBAX.Y) - **Date of Update**: November 24, 2025 Key Points Industry and Company Performance - Julius Bär is navigating a transition year in 2025, focusing on strong operating performance and the completion of a credit review [5][6] - The company reported record assets under management (AUM) of CHF 520 billion, marking the first time crossing the half-a-trillion mark [7] - Net client inflows reached approximately CHF 12 billion, despite ongoing de-risking efforts [7][10] Financial Highlights - The company announced additional loan loss allowances of CHF 149 million related to a subset of positions totaling about CHF 700 million, primarily in income-producing residential and commercial real estate [5][6] - The capital position improved, with a Common Equity Tier 1 (CT1) capital ratio of 16.3%, up 210 basis points since the start of the year [11] - The cost-to-income ratio improved to 66%, down five percentage points year-to-date, reflecting disciplined cost management and efficiency program benefits [10][11] Strategic Initiatives - The credit review completion allows Julius Bär to move past legacy credit issues and focus on future growth [6] - The company is optimizing its footprint with new openings in Abu Dhabi and Lisbon [7] - A new relationship manager compensation framework was implemented to align incentives with shareholder interests [25][47] Relationship Management and Hiring - The number of relationship managers (RMs) remains stable, with 50 high-quality RMs added in the last four months [17][50] - The company aims to hire over 150 RMs annually in the strategic cycle, with a gross onboarding target of around 130 for the current year [18][50] Risk Management and Compliance - The new Chief Compliance Officer will join by the end of February, completing the risk organization [6][14] - The company is focused on managing down legacy loans in a disciplined manner to protect shareholder value [22][30] Future Outlook - Julius Bär aims to gradually improve net new money growth potential to 4%-5% by 2028 [16] - The company is considering moving to quarterly reporting but has not made a final decision [36] - The cost-to-income ratio is expected to normalize to below 69% for the second half of the year, with significant investments planned for 2026 and beyond [55][62] Additional Insights - The company is actively managing client de-risking, which is expected to continue linearly [42] - The credit provisions are considered adequate and forward-looking, with a focus on protecting shareholder value [21][30] - The total mortgage book size is approximately CHF 42 billion, with a significant portion in Lombard loans [31] This summary encapsulates the key insights from the Julius Bär Gruppe trading update, highlighting the company's performance, strategic initiatives, and future outlook.

Financial Data and Key Metrics Changes - The company reported three consecutive quarters of revenue growth, with Q1 revenue exceeding the total of the previous year, Q2 surpassing Q1, and Q3 exceeding Q2 [11] - The balance sheet improved with $7.5 million raised in equity offerings and $8.3 million in warrants exercised, leading to the company being debt-free [11] - The company regained compliance with NASDAQ regarding the $35 million minimum market value [11] Business Line Data and Key Metrics Changes - The company expanded its service availability, launching Realty in Georgia and Mortgage in Utah and Nevada [12] - Significant improvements were noted with a 90% increase in lead engagement, a 200% increase in appointments for home viewings, and a 140% increase in loan applications due to new AI technologies [13] Market Data and Key Metrics Changes - The company is focusing on the top 10 states for residential real estate transactions, which account for over 60% of the market [16] - The company aims to synchronize its Realty, Mortgage, and Title services across these states to enhance customer experience [16][18] Company Strategy and Development Direction - The company aims to build a platform that enables home buyers through technology, addressing the challenges posed by high home prices and interest rates [10] - Future plans include expanding into additional services such as moving and utility setup, while focusing on core offerings [21][22] Management's Comments on Operating Environment and Future Outlook - Management emphasized the importance of the capital raised for growth and the transition from attracting traders to long-term investors [19][25][26] - The company is committed to building a solid foundation for future growth, likening its development to constructing a skyscraper [39][40] Other Important Information - The company has integrated an AI company, Naamche, into its operations to enhance its technology capabilities [14] - Management acknowledged the complexity of the home buying process and the need for a cohesive customer experience [24] Q&A Session Summary Question: What is the overall plan for expansion to other states? - The company is focusing on the top 10 states for residential real estate volume to synchronize its services [16] Question: Which strategic developments are most important? - The capital raised is deemed the most strategically important for providing runway for growth [19] Question: How is customer feedback shaping the product roadmap? - Customer feedback indicates a desire for synchronized services across states and a cohesive process [23] Question: What innovations are planned for 2026? - Continued development of AI technologies for both mortgage and real estate services is planned [27] Question: What specific problem does the business solve for its customers? - The company aims to simplify the home buying process and offer rebates to make it more affordable [30] Question: Who are the main competitors? - Competitors include Rocket and Zillow, but the company believes it is creating a new category in the market [31] Question: What is the outlook on hiring additional mortgage brokers? - The company plans to hire more loan officers to support organic growth [47]

Financial Data and Key Metrics Changes - The company reported three consecutive quarters of revenue growth, with Q1 revenue exceeding the total of the previous year, Q2 surpassing Q1, and Q3 exceeding Q2 [11] - The company raised $7.5 million in equity offerings and had 8.3 million warrants exercised, using much of this to repay debt, resulting in a debt-free status [11] - The company regained compliance with NASDAQ regarding the $35 million minimum market value [11] Business Line Data and Key Metrics Changes - The company expanded its service availability, launching Realty in Georgia and mortgage services in Utah and Nevada [12] - The introduction of AI technologies led to a 90% increase in lead engagement, a 200% increase in appointments for home viewings, and a 140% increase in loan applications [13] Market Data and Key Metrics Changes - The company is focusing on the top 10 states for residential real estate transactions, which account for over 60% of the market [16] - The company aims to synchronize its Realty, Mortgage, and Title services across these states to enhance customer value [17][18] Company Strategy and Development Direction - The company aims to build a platform that enables home buyers through technology, addressing the challenges posed by high home prices and interest rates [10] - The focus is on integrating services to create a seamless customer experience, reducing friction in the home buying process [24] - The company is exploring partnerships and acquisitions to enhance its core offerings and expand its service capabilities [21] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the company's growth trajectory and the importance of the capital raised for future expansion [19] - The company is transitioning from attracting traders to long-term investors, emphasizing the importance of fundamentals and stability [25][26] - Management acknowledged the complexities of navigating the public company landscape but emphasized a commitment to building a solid foundation for future growth [39][40] Other Important Information - The company is focused on serving the veteran community through specialized mortgage services [35] - Management indicated a desire to eventually expand outside the U.S. but emphasized the need to solidify its position domestically first [42] Q&A Session Summary Question: What is the overall plan for reAlpha's expansion to other states? - The company is focusing on the top 10 states for residential real estate volume to synchronize its services [16] Question: Which strategic development is considered most important? - The capital raised is viewed as the most strategically important development, providing the company with growth runway [19] Question: How is customer feedback shaping product improvements? - Customer feedback indicates a desire for synchronized services across states and a cohesive process for home buying [23] Question: What innovations are planned for reAlpha in 2026? - The company plans to continue developing AI technologies and integrating acquired companies into its product offerings [27] Question: What specific problem does the business solve for its customers? - The company addresses the challenges of high home prices and interest rates by offering a streamlined home buying process with potential rebates [29] Question: Who are the main competitors? - Competitors include Rocket and Zillow, but the company believes it is creating a unique category by integrating Realty, Mortgage, and Title services [31] Question: What is the outlook on hiring additional mortgage brokers? - The company plans to hire more loan officers to support organic growth, focusing on those who can contribute to existing teams [47]

Financial Data and Key Metrics Changes - The company reported three consecutive quarters of revenue growth, with Q1 revenue exceeding the total of the previous year, Q2 surpassing Q1, and Q3 exceeding Q2 [11] - The balance sheet improved with a $7.5 million equity offering and 8.3 million warrants exercised, leading to the company becoming debt-free [11][12] - The company regained compliance with NASDAQ regarding the $35 million minimum market value [11] Business Line Data and Key Metrics Changes - The company expanded its service availability, launching Realty in Georgia and mortgage services in Utah and Nevada [12] - Significant improvements were noted in lead engagement (90% increase), home viewing appointments (200% increase), and loan applications (140% increase) due to new AI technologies [13] Market Data and Key Metrics Changes - The company is focusing on the top 10 states for residential real estate transactions, which account for over 60% of the market [18] Company Strategy and Development Direction - The company aims to synchronize its Realty, Mortgage, and Title services to enhance customer experience and provide rebates [19] - Future plans include expanding into additional states and potentially offering one-stop shopping for related services like moving and utility setup [22] Management's Comments on Operating Environment and Future Outlook - Management emphasized the importance of the capital raised for growth and the need to focus on core products while exploring partnerships for additional services [20][22] - The company is transitioning from attracting traders to long-term investors, driven by consistent quarter-on-quarter growth [26][27] Other Important Information - The company is integrating acquired companies into a unified platform to streamline operations and enhance customer experience [15][29] - Management highlighted the complexity of the home buying process and the need for a solid foundation to support future growth [40] Q&A Session Summary Question: What is the overall plan for expansion to other states? - The company is focusing on the top 10 states for residential real estate volume to synchronize its services [17] Question: Which strategic developments are most important? - The capital raised is deemed the most strategically important for providing growth runway [20] Question: How is customer feedback shaping the product roadmap? - Customer feedback indicates a desire for synchronized services across states and a cohesive process [24] Question: What innovations are planned for 2026? - Continued development of AI technologies for both mortgage and real estate services is planned [29] Question: What specific problem does the business solve for its customers? - The company addresses the challenges of high home prices and interest rates by offering a streamlined home buying process with potential rebates [31] Question: Who are the main competitors? - Major competitors include Rocket and Zillow, but the company aims to create a unique home buying platform that integrates Realty, Mortgage, and Title services [33] Question: What is the outlook on hiring additional mortgage brokers? - The company plans to hire more loan officers to support growth, focusing on quality over quantity [48]

Summary of Dogwood Therapeutics Special Meeting Company Overview - **Company**: Dogwood Therapeutics (NasdaqCM:DWTX) - **Event**: 2025 Extraordinary General Meeting - **Date**: November 21, 2025 Key Proposals Discussed 1. **Proposal One**: Approval for the issuance of common stock upon conversion of Series A non-voting convertible preferred stock, par value $0.0001 per share [8] 2. **Proposal Two**: Approval for the issuance of common stock upon conversion of Series A1 non-voting preferred stock, par value $0.0001 per share [9] 3. **Proposal Three**: Approval for the issuance of common stock upon conversion of Series A2 non-voting convertible preferred stock, par value $0.0001 per share [9] 4. **Proposal Four**: Approval of the Dogwood Therapeutics Second Amended and Restated 2020 Equity Incentive Plan [9] 5. **Proposal Five**: Approval for the adjournment of the special meeting to a later date if necessary [9] Voting Results - **Proposal One**: Approved under both Delaware law and NASDAQ Listing Rules [13] - **Proposal Two**: Approved under both Delaware law and NASDAQ Listing Rules [13] - **Proposal Three**: Approved under both Delaware law and NASDAQ Listing Rules [14] - **Proposal Four**: Approved [14] - **Proposal Five**: Approved [14] Additional Information - A quorum was established with more than one-third of the outstanding shares present [6] - The final voting results will be filed with the SEC on Form 8K within four business days after the meeting [16] - The meeting concluded with a focus on improving care for patients suffering from pain and neuropathy [16]

Financial Data and Key Metrics Changes - Net income for the third quarter was $48.7 million, or $0.96 per share, compared to $44.2 million, or $0.88 per share, for the same period last year, representing a year-over-year increase of 10.1% in net income [3] - Year-to-date net income was $128.9 million, or $2.55 per share, compared to $118.3 million, or $2.35 per share, for the prior year, reflecting a year-over-year increase of 8.5% [8] - Net sales for the third quarter increased by 9.3% to $320.8 million, compared to $293.6 million for the same period last year [3] Business Line Data and Key Metrics Changes - Women's merchandise sales increased by approximately 19%, representing about 51% of total sales, compared to 47% last year [11] - Men's merchandise sales were up about 1%, accounting for approximately 49% of total sales, down from 53% in the prior year [12] - Accessory sales increased approximately 7.5%, while footwear sales remained flat, accounting for about 10% and 4.5% of third quarter net sales, respectively [13] Market Data and Key Metrics Changes - Comparable store sales for the quarter increased by 8.3% compared to the same period last year [4] - Online sales increased by 13.6% to $53 million for the quarter [4] - Year-to-date net sales increased by 7.2% to $898.7 million, compared to $838.5 million for the prior year [4] Company Strategy and Development Direction - The company continues to focus on enhancing its women's business, particularly in the denim category, which has shown strong growth [11] - The company opened two new stores and completed six full store remodels during the quarter, with plans for additional remodeling projects [9] - The company aims to maintain a strong merchandise margin despite slight fluctuations due to tariffs and other costs [22] Management's Comments on Operating Environment and Future Outlook - Management noted that there has not been a significant change in consumer behavior, with a slight caution observed in units per sale [17] - The company remains optimistic about the women's denim business and believes the men's denim segment is solid as well [18] - Management expressed confidence in the sustainability of growth in the women's business, particularly in denim [17] Other Important Information - Gross margin for the quarter was 48%, a 30 basis point increase from the previous year [5] - Selling general administrative expenses for the quarter were 29% of net sales, slightly down from 29.1% in the prior year [5] - The company ended the quarter with inventory of $165.8 million, up 11% from the same time last year [8] Q&A Session Summary Question: What is the health of the U.S. consumer coming into the holiday season? - Management indicated that there has not been a significant change in consumer behavior, with excitement about products remaining strong, although there is slight caution in units per sale [17] Question: Can you elaborate on the denim business and its sustainability? - Management expressed optimism about the women's denim business and noted that the men's denim segment is also performing well, with private label brands showing good sell-throughs [18] Question: What were the factors behind the merchandise margin trend this quarter? - Management explained that merchandise margins were down 10 basis points due to a decrease in private label business and slight increases in costs related to tariffs [22][23]

Financial Data and Key Metrics Changes - For Q4 2025, the company reported revenue of $30.7 million, down from $35.4 million in Q4 2024, representing a decrease of 19.7% [10] - The net loss for Q4 2025 was $9.1 million, or $0.71 per diluted share, compared to a net loss of $12.9 million, or $1 per diluted share in the same quarter last year [10] - For the full fiscal year 2025, revenue totaled $110.8 million, down from $135.6 million in fiscal year 2024, a decrease of 18.3% [10] - The net loss for the full year was $9.7 million, or $0.76 per diluted share, compared to a net loss of $6.6 million, or $0.50 per diluted share in the previous year [10] Business Line Data and Key Metrics Changes - Smart Water segment revenue for Q4 2025 was $8.5 million, down 28% from $11.9 million in Q4 2024; however, for the full year, it increased by 10% to $35.8 million from $32.4 million [11] - Energy Solutions segment revenue for Q4 2025 was $15.7 million, a decrease of 11% from $17.6 million in Q4 2024, and for the full year, it decreased by 35% to $50.7 million from $78 million [12] - Intelligent Industrial segment revenue for Q4 2025 was $6.4 million, up 9% from $5.8 million in Q4 2024, but for the full year, it decreased by 4% to $24 million from $24.9 million [12][13] Market Data and Key Metrics Changes - The company noted a mixed fiscal year performance across market segments, with the smart water segment showing strong growth while energy solutions faced challenges due to lower offshore exploration activity and oil price volatility [5][6] - The company is focusing on international markets, particularly addressing water scarcity and environmental changes, while also enhancing its municipal water management model in the U.S. [5] Company Strategy and Development Direction - The company aims to diversify and innovate, with a strong focus on the smart water and intelligent industrial segments, leveraging technology and manufacturing capabilities [9] - The acquisition of Geovox Security is part of the strategy to enhance recurring revenue through new solutions [8] - The company plans to continue pursuing growth through acquisitions that are immediately accretive to top-line revenue [9] Management's Comments on Operating Environment and Future Outlook - Management acknowledged ongoing trade disputes and tariffs impacting material costs, with expectations of similar impacts in fiscal year 2026 [17] - The company anticipates continued market demand for Hydrocon and Aquana solutions, despite short-term uncertainties in the exploration market due to low oil prices [6][9] - Long-term demand forecasts are expected to drive more favorable market conditions in future periods [7] Other Important Information - The company has a strong backlog going into the next fiscal year, which positions it well for future growth [9] - Cash investments for the rental fleet and property plant and equipment totaled $9.1 million, with an additional $1.8 million invested in the Heartbeat Detector product line [13][14] Q&A Session Summary Question: Can you elaborate on the margin pressure in the energy solutions segment? - Management indicated that margin pressure was due to ongoing price pressure and higher manufacturing costs, but they expect improved margins going forward as manufacturing inefficiencies are resolved [19][28] Question: How much of the margin impact is expected to be transitional? - Management did not provide specific percentages but noted that they are monitoring the situation closely and expect some improvements in margins [21][22] Question: What updates can you provide on government initiatives? - Management mentioned that feedback from Customs and Border Protection is anticipated early next year, while Navy projects are expected to be delayed until mid-next year [32] Question: Have the large projects announced earlier been shipped? - Management confirmed that shipments for the Petrobras project and the Mariner contract have not yet occurred, with expected revenue recognition in fiscal year 2027 [35][36]

Financial Data and Key Metrics Changes - Net income for the third quarter was $48.7 million, or $0.96 per share, compared to $44.2 million, or $0.88 per share, for the same quarter last year, representing a year-over-year increase of 10.1% in net income [3] - Year-to-date net income was $128.9 million, or $2.55 per share, compared to $118.3 million, or $2.35 per share, for the prior year, reflecting a year-over-year increase of 9.5% [7] - Net sales for the third quarter increased by 9.3% to $320.8 million, compared to $293.6 million for the same quarter last year [3] Business Line Data and Key Metrics Changes - Comparable store sales increased by 8.3% for the quarter compared to the same period last year, while online sales rose by 13.6% to $53 million [4] - Women's merchandise sales increased by approximately 19%, representing about 51% of total sales, compared to 47% last year [10] - Men's merchandise sales were up about 1%, accounting for approximately 49% of total sales, compared to 53% in the prior year [11] Market Data and Key Metrics Changes - Average unit retail (AUR) for women's denim increased from $81.15 to $86.95, while men's denim price points increased slightly from $88.10 to $88.15 [10][11] - Overall average men's price points increased approximately 2.5% from $54.30 to $55.70 [12] - Kids' business saw strong growth, increasing approximately 22% year-over-year [12] Company Strategy and Development Direction - The company continues to focus on enhancing its women's denim category, which has shown strong growth, and is optimistic about the girls' denim business for the remainder of the year [17] - The company opened two new stores and completed six full store remodels during the quarter, with plans for additional remodeling projects [8] Management's Comments on Operating Environment and Future Outlook - Management noted that there has not been a significant change in consumer behavior, although there is slight caution among some consumers [17] - The company remains optimistic about its denim business, particularly in women's categories, and believes that the quality and variety of products are resonating well with customers [17] Other Important Information - Gross margin for the quarter was 48%, a 30 basis point increase from the previous year [4] - Selling general administrative expenses for the quarter were 29% of net sales, slightly down from 29.1% in the prior year [5] Q&A Session Summary Question: What is the health of the U.S. consumer coming into the holiday season? - Management indicated that they have not seen a significant change in store performance, with excitement around product offerings, although there is slight caution among some consumers [17] Question: Can you elaborate on the denim business and its sustainability? - Management expressed optimism about the women's denim business, noting strong performance and variety, while men's denim remains solid with consistent private label performance [17][18] Question: What were the factors behind the merchandise margin trend this quarter? - Management explained that merchandise margins were down 10 basis points due to a decrease in private label business and slight increases in costs related to tariffs [20][21]