For personal use only Disclaimers This presentation contains forward-looking statements that involve subjective judgement and analysis and accordingly, are subject to significant uncertainties and risks, many of which are outside the control of, and are unknown to, American Rare Earths ("ARR"). In such circumstances, the forward-looking statements can be identified by the use of forward-looking words such as "may", "will", "expect", "intend", "seek", "estimate", "believe", "continue" or other similar words. ...

Company Overview - Health In Tech (HIT) is an insurance exchange platform transforming the self-funded healthcare market through technology [6] - The company connects brokers, employers, and TPAs on a single platform to deliver customized self-funded plans [7] - As of Q2 2025, HIT has expanded its reach to 41 states, serving 942 business clients and collaborating with 778 brokers, TPAs, and agencies [9] Financial Performance (1H 2025) - HIT's revenue for the first half of 2025 reached $17.3 million, representing 89% of the full-year 2024 revenue of $19.5 million, with a year-over-year growth of 86% [10] - Adjusted EBITDA for 1H 2025 exceeded the full-year 2024 total, reaching $2.8 million compared to $2.3 million, demonstrating a 134% year-over-year increase [10] - In Q2 2025, the company achieved $9.3 million in revenue and $1.6 million in Adjusted EBITDA [10] - Cash and cash equivalents increased from $2.2 million in June 2024 to $8.1 million in June 2025 [53] Market Opportunity - The U S healthcare industry represents a $6.6 trillion total addressable market [11] - Small businesses, employing 59 million people, contribute 43.5% of the GDP, highlighting a significant market segment [12, 13] Technology and Innovation - HIT leverages AI across its platform to accelerate processes, enhance transparency, support smarter decision-making, deliver cost efficiency, and empower personalized care models [34, 36] - The company's proprietary eDIYBS technology simplifies the quoting process, presenting bindable proposals with 12 plans and 4 tier rates in approximately 2 minutes [40]

Second Quarter 2025 Earnings Presentation July 21, 2025 1 Safe Harbor Statement NOTE: This presentation contains certain statements that are not historical facts and that constitute "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Statements in this presentation addressing expectations, assumptions, beliefs, projections, estimates, future plans, strategies, and events, developments that we expect or anticipate will occur in the future, and future opera ...

Financial Performance Highlights - Net income reached $1923 million, resulting in a return on average assets (ROAA) of 153% and a return on average tangible common equity (ROATCE) of 1555%[6] - Adjusted net income was $19803 million, with an adjusted ROAA of 158% and an adjusted ROATCE of 1602%[6] - Tangible book value per share increased by 38% from March 31, 2025, and 174% from June 30, 2024[6] - Net interest margin expanded by 2 basis points to 414%, and the tax-equivalent net interest margin expanded by 3 basis points to 419%[7] Asset Quality - Nonperforming assets represented only 013% of total assets as of June 30, 2025[8] - Net charge-offs represented only 012% of average loans on an annualized basis during Q2 2025[8] Deposit Base - Core deposits constitute 953% of total deposits[14, 16] - Uninsured and uncollateralized deposits are estimated at $595 million, representing 14% of total deposits as of June 30, 2025[29] Loan Portfolio - The loan portfolio is diversified, with commercial real estate (CRE) comprising a significant portion: CRE-Non-owner occupied at 27%, Multi-family at 14%, and CRE-Owner occupied at 9%[11] - 32% of the loan portfolio matures or reprices within the next 3 months, and 44% within the next 12 months[37] Securities Portfolio - The amortized cost of the securities portfolio is $1296437 million, with a book yield of 277%[56]

Financial Performance - Total revenue increased to $34.5 billion, a 5.2% year-over-year increase[21] - Adjusted EBITDA grew to $12.8 billion, up 4.1% year-over-year, with a margin of 37.1%[6, 21] - Adjusted EPS increased to $1.22, a 6.1% year-over-year increase[21] - First half free cash flow reached $8.8 billion, a 3.6% year-over-year increase[6] Subscriber Growth - Wireless service revenue increased by 2.2% year-over-year[6] - The company surpassed 5 million Fixed Wireless Access subscribers[6] - Wireless retail postpaid phone gross adds were 2.7 million, up 13.8% year-over-year[11] - Consumer wireless retail postpaid phone gross adds were 2.0 million, up 18.9% year-over-year[11] Updated Guidance - The company raised 2025 guidance on Adjusted EBITDA, Adjusted EPS, and free cash flow[6] - Free cash flow guidance was raised to $19.5 billion - $20.5 billion[25]

Financial Performance & Outlook - Cleveland-Cliffs reported revenues of $4.9 billion for Q2 2025[6] - Adjusted EBITDA for Q2 2025 was $97 million, with expectations for continued improvement from Q2 to Q3[6] - The company released over $200 million in inventory working capital during Q2 2025[6] - Cleveland-Cliffs expects to reduce steel unit costs by approximately $160 per ton over three years[55] Steel Shipments & Market Dynamics - Record quarterly steel shipments of 4.3 million net tons were achieved in Q2 2025[6] - Steel shipments increased by 150,000 tons from the prior quarter[11] - The average selling price (ASP) increased by $35 per ton due to higher index pricing, partially offset by lower slab pricing[11] Asset Optimization & Cost Savings - Flat-rolled optimization is expected to yield approximately $145 million in annual savings[15] - Repositioning away from non-core assets is projected to generate around $165 million in annual savings[15] - The company announced the idling of several facilities, including Riverdale, Conshohocken, and Steelton, resulting in approximately $90 million, $45 million, and $30 million in expected annual savings, respectively[16] Trade & Tariffs - Tariffs on steel imports from various countries, including Canada, Brazil, and Mexico, have increased to 50%[18] - Imports of light vehicles from Japan and South Korea are down by more than 30% year-to-date[22] Capital Expenditure & Debt Management - The 2025 capital expenditure guidance has been lowered to approximately $600 million[57] - The company has a liquidity of $2.7 billion[6]

Financial Performance - Total revenue increased by 13% to $1.944 billion, with organic revenue growth of 7% and a 6% contribution from M&A[14, 40] - EBITDA increased by 12% to $775 million, with an EBITDA margin of 39.9%[14, 40] - Free cash flow increased by 10% to $403 million, resulting in a trailing twelve months (TTM) free cash flow margin of 31%[14] - Adjusted DEPS increased by 9% to $4.87[14] Acquisition and Capital Deployment - The company is acquiring Subsplash for $800 million, expecting ~$115 million in revenue and ~$36 million in EBITDA for the 12-months ending Q3'26[12] - The company exited Q2'25 with a net debt-to-EBITDA ratio of 2.9x, with $242 million in cash and $1.4 billion drawn on a $3.5 billion revolver[16] - The company has $5B+ M&A firepower and a large pipeline of attractive acquisition opportunities[16, 37] Segment Performance - Application Software revenue increased by 17%, with 11% from M&A and 6% organic growth, reaching $1.095 billion[18, 20] - Network Software revenue increased by 6%, with 5% organic growth, reaching $385 million[22, 24] - Technology Enabled Products revenue increased by 10%, with 9% organic growth, reaching $463 million[26, 28] Guidance - The company increased its full-year 2025 total revenue guidance to ~13%, with organic growth unchanged at +6 - 7%[34] - Adjusted DEPS guidance for FY 2025 is $19.90 - $20.05, including a ~$(0.05) impact from Subsplash[34]

Cautionary Statements Non-GAAP Financial Measures This presentation contains financial information determined by methods other than in accordance with generally accepted accounting principles in the United States of America, or GAAP. These measures and ratios include "tangible common equity," "tangible assets," "tangible equity to tangible assets," "tangible book value per common share," "core noninterest income," "core earnings before noninterest expense," "core noninterest expense," "core earnings before ...

Transaction Overview - Vodacom is investing in Maziv, valuing Maziv at R34 billion (excluding the initial Herotel stake)[17] - Vodacom's FTTH, FTTB, and Tower fibre assets will be acquired by Maziv for R4.89 billion[17] - Vodacom will acquire 30% stake in Maziv[28] - Vodacom has an option to acquire up to an additional 4.95% in Maziv at a R37 billion pre-money valuation[17, 19] Financial Implications - Maziv can declare a pre-implementation dividend of up to R4.2 billion to CIVH[17, 22, 23, 26, 33] - Vodacom may acquire additional Maziv shares from CIVH for R2.3 billion[32] - Maziv equity valuation is R38.75 billion with net debt of R20.859 billion, resulting in an enterprise value of R59.609 billion[40] Regulatory and Herotel - The Competition Tribunal initially prohibited the transaction but the Commission no longer opposes it based on updated conditions[7] - CIVH will dispose of a further 49.93% of Herotel shares to Maziv at a valuation of up to R2.75 billion[17, 22] - The second Herotel stake is valued at R2.75 billion, leading to 99% Herotel shareholding[41] Competition Commission Concerns and Commitments - The Competition Commission had primary concerns regarding horizontal reduction in competition, horizontal overlap in FTTH infrastructure, and vertical foreclosure concerns[9] - Public interest commitments include additional capex spend on fibre infrastructure and free access to 1 Gigabit per second fibre lines for public libraries and clinics[11]

AMP's Financial Performance and Strategy - AMP's FY24 NPAT was $107 million[16] - Platforms FY24 NPAT reached $72 million[18] - Super & Investments FY24 NPAT was $67 million[21] - AMP is focusing on wealth management after simplifying its portfolio[15, 11] - AMP is adopting a challenger brand mindset to drive performance in wealth businesses[9, 12] Retirement Solutions and Market Opportunity - Australia's superannuation savings pool is the world's fifth largest, worth $4.1 trillion and expected to reach $10 trillion by 2040[37] - Only 1% of post-retirement assets are in lifetime products, representing a $28 billion market opportunity[31] - Platforms market has grown 10% in the last 12 months to $760 billion[102] - AMP Super has $58 billion in total assets[137] - 94% of AMP's 580,000 members would benefit from Lifetime Super[68] North Platform Performance - North's total funds under administration are $83.2 billion[99] - North has $21.8 billion in Managed Portfolios funds under management[99, 120] - MyNorth Lifetime has over 2,000 members[99]