NextNav's Solution & Spectrum - NextNav holds terrestrial PNT resilience licenses covering over 96% of U.S POPs, and over 4 billion MHz-POPs[17] - The total value of the GPS complement and backup is $14.6 billion[20, 21] - NextNav proposes an optimized band plan with paired 5+10 MHz blocks suitable for PNT and 5G[26] GPS Vulnerability & Need for Backup - GPS limitations include weak signal strength indoors and in urban canyons[10] - GPS is vulnerable to spoofing, jamming, and natural phenomena[10] - A terrestrial GPS complement and backup is urgently needed[8] Economic Impact of GPS Outage - A 1-day GPS outage could result in $1.6 billion in potential U.S economic loss[37] - A 7-day GPS outage could result in $12.2 billion in potential U.S economic loss[37] - A 30-day GPS outage could result in $58.2 billion in potential U.S economic loss[37] - Adopting NextNav's proposal could prevent an economic loss of $663 million (1-day outage), $6.0 billion (7-day outage), or $31.9 billion (30-day outage)[37] Financial Status - NextNav finished the third quarter with $167.6 million in cash, cash equivalents, and marketable securities[41]

Q3 2025 Performance Highlights - Redwire achieved a book-to-bill ratio of 1.25x, driven by awards in key areas such as Stalker UASs for LRR and ROSAs for CLD[31] - The company's Adjusted Gross Margin reached 27.1%, with a sequential Adjusted EBITDA improvement of $24.8 million[31] - Redwire experienced significant sequential and year-over-year revenue growth, reaching $103.4 million[31] - The U S government shutdown led to the postponement of anticipated orders from Q3 2025 into 2026[31] Financial Results - Q3 2025 revenue was $103.4 million, including $49.5 million from Edge Autonomy[64] - Net loss for Q3 2025 was $(41.2) million, which included an $11.2 million purchase accounting fair value adjustment related to inventory[64] - Adjusted EBITDA for Q3 2025 was $(2.6) million, impacted by a net unfavorable change of $8.3 million from EAC changes[64] - Total liquidity as of September 30, 2025, was $89.3 million, including $52.3 million in cash and cash equivalents[64,65] 2025 Outlook - Due to the U S government shutdown, the company forecasts full-year 2025 revenue to be in the range of $320 million to $340 million, including Edge Autonomy from the date of close[74] Backlog and Pipeline - The company's pipeline as of September 30, 2025, was over $10 billion[58] - FY2025 submitted bids totaled approximately $3 billion as of September 30, 2025[58] - Q3 2025 contract awards amounted to $129.8 million[58] - Contracted backlog increased from $329 million on June 30, 2025, to $356 million on September 30, 2025[58]

Financial Performance - Total revenues for Q3 2025 were $929 million compared to $910 million in Q3 2024[37] - Restaurant-Level Operating Income was $84 million in Q3 2025, compared to $98 million in Q3 2024[37] - Adjusted Restaurant-Level Operating Income was $87 million with a 9.5% margin in Q3 2025, compared to $98 million with an 11.1% margin in Q3 2024[37] - The company reported a GAAP Loss from Operations of ($36) million in Q3 2025, compared to an Income from Operations of $9 million in Q3 2024[37] - Adjusted Income from Operations was $8 million with a 0.8% margin in Q3 2025, compared to $21 million with a 2.3% margin in Q3 2024[37] - Adjusted EBITDA was $52 million with a 5.6% margin in Q3 2025, compared to $65 million with a 7.1% margin in Q3 2024[37] - The GAAP Diluted Loss per Share was ($0.54) in Q3 2025, compared to ($0.01) in Q3 2024[37] - Adjusted Diluted Loss per Share was ($0.03) in Q3 2025, compared to earnings of $0.11 in Q3 2024[37] Sales and Traffic - U S Comparable Sales increased by 1.2% and Traffic decreased by (0.1%) in Q3 2025[35, 36] Brazil Transaction - The company sold 67% of its Brazil operations for R$1.4 billion, equivalent to $225 million USD[38] - The company expects to receive ~$122 million in November 2025 from the Brazil transaction[39] Guidance - The company updated its full-year 2025 U S Comparable Sales Growth guidance to 0% to 0.5%[40]

Q2 FY'26 Performance - Net sales reached $951 million, an increase of 8% year-over-year[12,37] - Adjusted EPS ex 45X was $1.51, up 15% year-over-year[11,12] - Adjusted operating earnings were $130 million, a 13% increase year-over-year, or a 10% increase excluding 45X benefits[12] - Free cash flow was $197 million, a significant increase of $194 million year-over-year[12] - Adjusted gross margin was 29.1%, up 40 bps year-over-year, but excluding 45X, it was 24.9%, flat year-over-year[13] Tariff Mitigation - The company faces approximately $70 million in annualized tariff exposure[17] - 78% of US supply is sourced from US or USMCA compliant regions, limiting tariff exposure[22] - 65% of global revenue is in the US[22] Demand Trends - Q2'26 orders decreased 1% year-over-year and 7% quarter-over-quarter[28] - Q2'26 book-to-bill ratio was 0.90, down year-over-year and quarter-over-quarter[28] - Q2'26 backlog decreased 8% year-over-year and 10% quarter-over-quarter[26] Q3'26 Guidance - Net sales are projected to be between $920 million and $960 million, representing a 4% year-over-year increase at the midpoint[57] - Adjusted EPS is expected to be between $2.71 and $2.81, but excluding 45X, it's projected at $1.64 to $1.74, a 46% increase[57] - The company anticipates a $35 million to $40 million IRC 45X benefit to the cost of sales[57]

Q3 2025 Performance - Organic sales increased by 9% due to favorable pricing, pull-forward demand, and volume[5, 10, 32] - Adjusted operating margin expanded by 140 bps to 18.5%[5, 11, 12, 35] - Adjusted EPS increased by 23% from $2.03 to $2.50[13, 14] - Free cash flow increased by 6% from $204 million to $216 million[15, 16] Segment Performance - Americas sales increased organically by 13%, with acquisitions adding $11 million, reaching $464 million[19] - Europe sales decreased organically by 2%, but benefited from a $7 million FX impact, totaling $112 million[19] - APMEA sales remained flat organically at $36 million[19] - Americas adjusted operating margin increased by 180 bps to 23.7%[19] - Europe adjusted operating margin increased by 160 bps to 12.2%[19] - APMEA adjusted operating margin increased by 90 bps to 19.4%[19] Full Year 2025 Outlook - The company raised its full-year reported sales growth outlook to +7% to +8%, with organic growth of +4% to +5%[6, 20, 43] - The company raised its full-year adjusted EBITDA margin outlook to 21.5% to 21.6%, an increase of +140 bps to +150 bps[6, 20]

Financial Performance - Revenue decreased by 13% year-over-year, from $804 million in Q3 2024 to $699 million in Q3 2025[11, 16] - Adjusted EBITDA decreased by 48% year-over-year, from $143 million in Q3 2024 to $74 million in Q3 2025[11, 25] - Adjusted EBITDA margin decreased by 720 basis points year-over-year, from 17.8% in Q3 2024 to 10.6% in Q3 2025[11, 25] - Free cash flow was a use of $137 million in Q3 2025, compared to a use of $14 million in Q3 2024[11] - Net loss attributable to Tronox was $99 million in Q3 2025, compared to a net loss of $25 million in Q3 2024[11, 13] Operational Highlights - TiO2 volumes decreased by 8% year-over-year and 4% quarter-over-quarter[16, 21] - Zircon volumes decreased by 4% year-over-year and 7% quarter-over-quarter[16, 21] - The company is on track to deliver sustainable run-rate cost improvements of more than $60 million in 2025 and $125-$175 million by the end of 2026[10] Liquidity and Capital Allocation - The company raised $400 million of secured notes in Q3 2025[10, 33] - Total debt was $3.2 billion as of September 30, 2025, with a net leverage ratio of 7.5x on a trailing twelve-month basis[33] - Total available liquidity was $664 million as of September 30, 2025, including $185 million in cash and cash equivalents[33]

Digital Focus Realignment - The company is realigning its digital focus to leverage the strength of U.S iCasino and Canadian operations, emphasizing omnichannel benefits[7, 9] - The company will rebrand U S OSB product to theScore Bet on December 1, 2025, retaining a database of 2.9 million digital users[8] - The company's iCasino business achieved its highest quarterly gaming revenue to date, driven by record cross-sell from OSB and growth from standalone apps[7] Share Repurchase and Capital Allocation - The company repurchased $354 million of shares through November 5, 2025, and the board authorized a new three-year $750 million share repurchase program effective January 1, 2026[7] Omnichannel Strategy and Database Growth - 37% of digitally acquired customers are within 50 miles of one or more retail properties[13] - 64% of PENN Play database growth since 2019 is from digital customers[15] - Omnichannel customers have 6x the value and 3x the retention compared to single-channel customers[15] iCasino Growth and Retail Customer Engagement - Q3 2025 iCasino NGR growth was +41% year-over-year, with MAU growth of +79% year-over-year[18] - In Q3 2025, the record cross-sell percentage in iCasino was 62%[18] - The percentage of the active retail database also active online in states with retail, OSB, and iCasino (PA, MI, WV) reached 14.4% in September 2025[20] Canadian Market Opportunity - Ontario OSB & iCasino growth was +7% year-over-year (September 2025 YTD)[22] - The company expects to launch in Alberta in 2026 for OSB & iCasino, covering approximately 12% of the Canadian population[10, 23] Product Improvements and Retention - Enhanced OSB product features led to a +410 bps increase in SGP % Mix of Handle and a +800 bps increase in % of MAUs Live Betting (Y/Y in Oct-25)[25] - Improved retention efforts resulted in a +32% increase in M/M Retained Users (Y/Y in Oct-25) and a +1,000 bps increase in M/M Retention % (Y/Y in Sep-Oct 2025)[25] Retail Business Stability - The total retail portfolio saw revenue growth of +1.5% and EBITDAR growth of +3.5% year-over-year in Q3[28] - Excluding certain properties, revenue grew by +1.2% and EBITDAR grew by +2.3%[28] Hollywood Casino Joliet Performance - Hollywood Casino Joliet saw a +42% growth in active database (Q3-25 vs Q2-25)[35]

November 6, 2025 Phibro Animal Health Corporation Financial Results Fiscal Year 2026 First Quarter Ended September 30, 2025 November 6, 2025 Webcast and Conference Call Webcast and ConferenceCall U.S. toll-free +1.888.330.2022 International toll +1.365.977.0051 Conference ID: 3927884 Important Information Cautionary Statement Regarding Forward-Looking Statements This communication contains forward-looking statements that are subject to risks and uncertainties, including with respect to any future debt and l ...

Q3 2025 EARNINGS | NOVEMBER 6, 2025 | NASDAQ: BWMN TRANSPORTATION POWER, UTILITIES & ENERGY BUILDING INFRASTRUCTURE NATURAL RESOURCES Gary Bowman Chief Executive Officer Bruce Labovitz Chief Financial Officer Safe Harbor Statement Please note that many of the comments made today are considered forward-looking statements under federal securities laws. As described in our filings with the SEC, these statements are subject to numerous risks and uncertainties that could cause future results to differ from those ...

Strategy & Vision - Helios Towers' new strategy, IMPACT 2030, targets capital efficient organic growth through tenancy expansion and customer experience excellence[35, 113] - The company aims to generate >$1.3 billion of cumulative recurring free cash flow across 2026-2030[35, 113, 138, 157] - The company is targeting >$500 million of discretionary capex on accretive growth opportunities and >$400 million of investor distributions up to 2030[35, 151, 152, 157] - The company targets >42,000 tenancies by 2030[106] and a tenancy ratio of >2.5x by 2030[37, 51, 106, 138] Financial Performance & Targets - The company's FY25 Adj EBITDA guidance is tightened upwards to c$470 million, representing a +12% YoY growth[30, 117, 119, 124, 125] - The company's Q3 2025 YTD Adj EBITDA grew +11% YoY to $346 million[117] - The company's Q3 2025 YTD free cash flow expanded to $49 million, a +$70 million YoY expansion[117] - The company's Q3 2025 YTD tenancy ratio expanded to 2.2x, a +0.1x YoY expansion[37, 51, 117] - The company's Q3 2025 YTD ROIC expanded to 14%, a +1ppt YoY expansion[37, 51, 117] - The company has initiated a share buyback program with a Board authorization of $75 million until 31 December 2026[107, 146, 147, 152]