Financial Data and Key Metrics Changes - Service revenues net of interconnection reached $145.9 billion, up 1% year on year, driven by steady demand across fiber, data, and ICT [4][6] - Cash operating expenses, subsidies, and provisions decreased by 2%, reflecting the company's focus on spending control [4][16] - EBITDA rose 3% to $82.8 billion with margins steady at 52% amidst higher revenues and lower operating expenses [4][17] - Telco core income was $5.3 billion, down 5% mainly due to higher depreciation and financing costs from network and IT investments [5][18] - Core income remained stable at $25.8 billion, supported by Maya's sustained profitability [5][19] Business Line Data and Key Metrics Changes - Fiber revenues grew 7%, reflecting solid demand for reliable connectivity [6][10] - Mobile data and fixed wireless revenues were up 1%, with fixed wireless showing strong momentum with an 18% year-on-year increase [6][15] - Corporate Data and ICT revenues grew 2%, with ICT services alone growing 27% year on year [7][13] - Home revenues grew 4% year on year, driven mainly by continued fiber demand [10][12] Market Data and Key Metrics Changes - The enterprise segment returned to growth in the third quarter, with corporate data and ICT up 5% year on year [9][13] - Government and public sector projects began to ramp up after election-related delays, contributing to the growth in enterprise revenues [7][13] - The number of 5G devices increased by 39% year on year, driving higher data usage and improved customer experience [15] Company Strategy and Development Direction - The company continues to invest in new cell sites, LTE and 5G upgrades, home fiber ports, data center development, and submarine cables to strengthen network quality and support growth [20] - PLDT launched Filipinas AI, the country's first sovereign AI platform, to enable enterprises to build and deploy AI models locally [14][89] - The company is focused on asset monetization programs, including a potential REIT listing for its data center [71] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in sustaining positive free cash flow into 2026, supported by lower CapEx and asset monetization [22][70] - The government is expected to continue investing in digital connectivity, which is seen as a priority for future growth [46] - Management highlighted the importance of maintaining profitability amidst a competitive environment, with a focus on disciplined growth [17][18] Other Important Information - Maya's net income for the third quarter was $532 million, with significant growth in deposits and loans [24][25] - The company recorded a $1.1 billion in proceeds from tower sales and completed a $20.5 billion final dividend payment for 2024 [22] Q&A Session Summary Question: What were the main drivers for the drop in Maya's net income for the period? - The drop was attributed to the removal of gaming links and the launch of new credit products, which will have some provision impact in the near term [33][34] Question: How do you see the KPA and IRRs impacting profitability and investment profile? - The law aims for cheaper internet and wider coverage, but lacks obligations for new entrants to build infrastructure, raising concerns about its effectiveness [36][54] Question: What is driving the difference in performance in the mobile segment? - Smart Wireless Group achieved flattish growth year to date, with improved ARPU due to targeted customer acquisition strategies [39][40] Question: Are you seeing sustained uptick in government projects into the fourth quarter? - Continued demand from government agencies is expected, with investments in digital connectivity prioritized [42][46] Question: What is the status of the asset monetization programs? - The company is in talks for a 49% stake sale in its data center and exploring a REIT listing [71][92]

Financial Data and Key Metrics Changes - Sales of continuing operations for Q2 FY 2025 increased by 5% year-on-year to JPY 3,107.9 billion, while operating income rose by 10% to JPY 429 billion, both record highs for the second quarter [2] - Net income increased by 7% to JPY 311.4 billion [2] - Full-year sales forecast was upwardly revised by 3% to JPY 12 trillion, operating income by 8% to JPY 1,430 billion, and net income by 8% to JPY 1,050 billion [2] - Operating cash flow forecast was revised upward by 18% to JPY 1.5 trillion [3] Business Segment Data and Key Metrics Changes - G&SS segment sales increased by 4% year-on-year, but operating income decreased by 13% due to non-recurring losses of approximately JPY 49.8 billion [3] - Music segment sales increased by 21% year-on-year, with operating income rising by 28%, driven by higher visual media and platform revenue [8] - Picture segment sales decreased by 3% year-on-year, and operating income decreased by 25% due to lower theatrical release sales [11] - ET&S segment sales decreased by 7% year-on-year, with operating income down by 13% [12] - I&SS segment sales increased by 15% year-on-year, and operating income increased by 50%, both reaching record highs for the segment [14] Market Data and Key Metrics Changes - The U.S. economy shows signs of slowing down, with rising inflation and a decreasing job applicant ratio, leading to cautious business operations [21] - The smartphone market is gradually recovering, particularly in North America, which presents opportunities for growth [47] Company Strategy and Development Direction - The company aims to expand its PlayStation 5 install base while balancing profitability [5][34] - Focus on adapting successful content IPs like Demon Slayer for further growth in the content-related businesses [22] - Plans to enhance the efficiency of business operations and product development in the next mid-range plan [17] Management's Comments on Operating Environment and Future Outlook - Management expressed caution regarding the uncertain business environment and intends to operate cautiously while striving for steady results [17] - The company is optimistic about achieving an average annual growth rate of operating income of 18% compared to the final year of the previous mid-range plan [18] Other Important Information - The company established a share repurchase facility of up to JPY 100 billion to be executed by May 2026 [18] - The company completed a partial spinoff of its financial service business on October 1st [18] Q&A Session Summary Question: Market conditions and consumer behavior - Management noted stability in Japan and the U.S., but expressed caution due to signs of slowing in the U.S. economy [21] Question: Growth of content-related businesses - The company plans to adapt successful titles like Demon Slayer into films and collaborate with distributors to grow the business [22] Question: Live service game business and development status of Marathon - The development of Marathon is ongoing, with a technical test conducted recently, and the launch is expected within the year [23][24] Question: Contribution of Demon Slayer to music segment - Approximately 50% of the upward revision in the music segment's operating income was attributed to Demon Slayer and Kokuho [28] Question: Impact of tariffs - The impact of tariffs was revised down from JPY 70 billion to JPY 50 billion, with the decline mainly affecting the I&SS segment [31][32] Question: Future strategy for PlayStation 5 - The company aims to expand the PS5 install base and monetize the existing user base rather than focusing solely on hardware profitability [39]

Financial Data and Key Metrics Changes - Sales of continuing operations for Q2 FY 2025 increased by 5% year-on-year to JPY 3,107.9 billion, while operating income rose by 10% to JPY 429 billion, both record highs for the second quarter [2] - Net income increased by 7% to JPY 311.4 billion [2] - Full-year sales forecast was upwardly revised by 3% to JPY 12 trillion, operating income by 8% to JPY 1 trillion 430 billion, and net income by 8% to JPY 1 trillion 50 billion [2] Business Segment Data and Key Metrics Changes - GNNS segment sales increased by 4% year-on-year, but operating income decreased by 13% due to non-recurring losses of approximately JPY 49.8 billion [3] - Music segment sales increased by 21% year-on-year, with operating income rising by 28%, driven by higher visual media and platform revenue [8] - Picture segment sales decreased by 3% year-on-year, and operating income decreased by 25%, primarily due to lower theatrical release sales [11] - INSS segment sales increased by 15% year-on-year, and operating income increased by 50%, both reaching record highs for the segment [14][15] Market Data and Key Metrics Changes - Streaming revenue in the music segment increased by 12% year-on-year in recorded music and 25% in music publishing [8] - The U.S. economy shows signs of slowing down, with rising inflation and a decreasing job applicant ratio, leading to cautious business operations [21] Company Strategy and Development Direction - The company aims to expand its IP franchises and strengthen its studio business through continuous learning and improvement [7] - In the sports business, the acquisition of Stats Perform aims to provide industry-leading sports data solutions [14] - The company plans to control costs and inventory while cautiously operating its business in the uncertain environment [13] Management's Comments on Operating Environment and Future Outlook - Management expressed caution regarding the U.S. economy and its potential impact on business operations [21] - The company remains optimistic about the performance of its content-related businesses, particularly with successful titles like Demon Slayer [22] - The upwardly revised operating income forecast projects an average annual growth rate of 18% compared to the final year of the previous mid-range plan [18] Other Important Information - The company established a share repurchase facility of up to JPY 100 billion to be executed by May 2026 [18] - The company recorded an impairment loss against a portion of the assets at Bungie due to underperformance expectations [5] Q&A Session Summary Question: What about the market conditions and consumer behaviors? - Management noted stability in Japan and the U.S., but expressed caution due to signs of slowing in the U.S. economy [21] Question: How will the company grow content-related businesses? - The company plans to adapt titles to films and partner with distributors to grow the business, particularly in Hollywood [22] Question: What is the status of the live service game Marathon? - The game is still in development, with a technical test conducted recently, and the company aims to launch it as scheduled [23] Question: What contributed to the success of Demon Slayer? - The unexpected performance was attributed to strong overseas market results, particularly in Hollywood [24] Question: What is the contribution of Demon Slayer to the music segment's operating income? - Approximately 50% of the upward revision in operating income was attributed to Demon Slayer and Kokuhou [28] Question: What is the impact of tariffs on the company's forecast? - The impact of tariffs was revised down from JPY 70 billion to JPY 50 billion, reflecting a JPY 20 billion decline [30] Question: What is the strategy for expanding the PS5 install base? - The company aims to expand the install base while balancing profitability, focusing on customer lifetime value [33]

Financial Data and Key Metrics Changes - Group service revenue growth accelerated to 5.8% in Q2, supported by growth across both Europe and Africa [5][6] - Europe's service revenue returned to growth at 0.5%, driven by stabilization in Germany and growth in The UK [5][6] - Adjusted EBITDA saw an organic growth of 6.8% in the first half [7] Business Line Data and Key Metrics Changes - In Germany, service revenue grew by 0.5% despite intense competition, aided by the end of the MDU TV law change and acceleration in wholesale revenue [6][9] - The B2B business grew at 2.9% in Q2, with strong demand for digital services growing in double digits [6][10] Market Data and Key Metrics Changes - The UK market showed strong performance in the first full quarter post-merger with Three, with measurable improvements in network and customer experience [5][12] - Emerging markets, particularly Turkey and Vodacom, continued to deliver strong growth in euro terms [6] Company Strategy and Development Direction - The company is focused on operational turnaround in Germany and executing integration plans in The UK, aiming to improve customer experience and simplify operations [20] - A progressive dividend policy has been announced, with a planned 2.5% increase in the final FY26 dividend [15] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in delivering at the upper end of FY 2026 guidance due to solid performance and positive outlook [7][20] - The company is positioned in markets with sustainable structures and good local scale, with a focus on high growth opportunities such as IoT and digital services [19][20] Other Important Information - The company has returned over €3 billion of capital to shareholders via buybacks and dividends since the capital allocation framework was refreshed [14][15] - The incoming CFO, Pilar Lopets, emphasized the importance of operational excellence and sustainable cash flow growth [18] Q&A Session Summary Question: What are the expectations for future growth? - Management confirmed that Vodafone is now growing service revenue in Europe and Africa, with a focus on operational turnaround and integration plans [19][20] Question: How is the integration with Three progressing? - The integration is off to a fast start, with improvements in customer loyalty and measurable network enhancements already noted [12]

Financial Data and Key Metrics Changes - Sales of continuing operations for Q2 FY 2025 increased by 5% year-on-year to JPY 3,107.9 billion, while operating income rose by 10% to JPY 429 billion, both record highs for the second quarter [2] - Net income increased by 7% to JPY 311.4 billion [2] - Full-year sales forecast was upwardly revised by 3% to JPY 12 trillion, operating income by 8% to JPY 1 trillion 430 billion, and net income by 8% to JPY 1 trillion 50 billion [2] - Operating cash flow forecast was revised upward by 18% to JPY 1.5 trillion [3] Business Segment Data and Key Metrics Changes - GNNS segment sales increased by 4% year-on-year, but operating income decreased by 13% due to non-recurring losses of approximately JPY 49.8 billion [3] - Music segment sales increased by 21% year-on-year, with operating income rising by 28%, driven by higher visual media and platform revenue [7] - Picture segment sales decreased by 3% year-on-year, and operating income decreased by 25% due to lower theatrical release sales [10] - INSS segment sales increased by 15% year-on-year, and operating income increased by 50%, both reaching record highs for the segment [14] Market Data and Key Metrics Changes - Streaming revenue in recorded music increased by 12% year-on-year, and 25% in music publishing [7] - The global success of artists contributed to a double-digit increase in sales and operating income for the music segment [9] - The smartphone market is showing signs of gradual recovery, particularly in North America [45] Company Strategy and Development Direction - The company aims to strengthen its studio business and expand IP franchises through continuous learning and improvement [6] - Plans to expand the PS5 install base during the year-end sales season while balancing profitability [5] - The company is focusing on improving efficiency in business operations and product development in the next mid-range plan period [17] Management's Comments on Operating Environment and Future Outlook - Management expressed caution regarding the U.S. economy, noting signs of slowing down and inflation concerns [22] - The company plans to operate cautiously in the uncertain business environment while striving to achieve results [17] - The upwardly revised operating income forecast projects an average annual growth rate of 18% compared to the final year of the previous mid-range plan [18] Other Important Information - The company established a share repurchase facility of up to JPY 100 billion to be executed by May 2026 [18] - The company recorded an impairment loss against a portion of the assets at Bungie due to underperformance expectations [5] Q&A Session Summary Question: What are the market conditions and consumer behaviors? - Management noted stability in Japan and the U.S., but expressed caution due to signs of slowing in the U.S. economy [22] Question: How will the company grow content-related businesses like Demon Slayer? - The company plans to adapt titles to films and partner with distributors to grow the business, especially in Hollywood [23] Question: What is the status of the live service game Marathon? - The game is still in development, with a technical test conducted, and the company aims to launch it as scheduled [24] Question: What contributed to the success of Demon Slayer? - The unexpected performance was attributed to strong overseas market results, particularly in Hollywood [25] Question: What is the contribution of Demon Slayer to the music segment's operating income? - Approximately 50% of the upward revision in operating income was attributed to Demon Slayer and Kokuhou [27] Question: What is the impact of tariffs on the company's forecast? - The impact of tariffs was revised down from JPY 70 billion to JPY 50 billion [30] Question: What is the strategy for expanding the PS5 install base? - The company aims to expand the install base while focusing on customer lifetime value and profitability [32]

Telenor Group Strategy & Performance - Telenor connects approximately 210 million people across its footprint[43] - Telenor delivered in line with financial targets set at the 2022 CMD, including a YoY growth in ordinary dividend per share and FCF before M&A covering the dividend by 2025[64,65] - Telenor aims for a future-fit strategy focusing on customer excellence, technology-led transformation, tapering opex and capex to sales, and shareholder value creation[71] - Telenor Infrastructure's EBITDA margin increased by 9 percentage points between 2022 and 2025, reaching 62%[453] Telenor Nordics - Telenor Nordics achieved a service revenue CAGR of +33% and EBITDA growth of +58% from 2022 to LTM Q3 2025[202,504] - Telenor Nordics free cash flow has more than doubled since 2022[213] - Telenor Nordics aims to deliver more than NOK 15 billion in FCF by 2030[221] Telenor Asia - Telenor Asia has approximately 200 million customers[378] - Telenor Asia's portfolio value is approximately NOK 90 billion[378] - True Corp in Thailand has a service revenue market share of 486% and subscriber market share of 504%[413] Financial Ambitions - Telenor targets low-to-mid-single-digit organic EBITDA growth and a capex/sales ratio of less than 13% by 2028[552] - Telenor aims for FCF ex associates of NOK 14-15 billion by 2030[552] - Telenor is committed to YoY growth in dividend per share and maintaining a leverage ratio between 18x and 23x[529,536,562]

Financial Performance - Service revenues reached ₱158.9 billion, a 3% increase, or +₱3.9 billion[3] - EBITDA (ex-MRP) grew by 3% to ₱82.8 billion with a 52% margin[3], a +₱2.1 billion increase[3] - Core income remained stable at ₱25.8 billion[3] - Maya contributed ₱603 million to PLDT's core earnings[5] Revenue Breakdown - Total Home revenues reached ₱45.7 billion, a 4% increase, or +₱1.6 billion[11] - Total Fiber revenues reached ₱44.5 billion, a 7% increase, or +₱2.8 billion[11] - Enterprise revenues reached ₱35.6 billion, a 2% increase, or +₱0.5 billion[14] - Wireless Consumer revenues reached ₱63.2 billion, a 1% decrease, or -₱0.3 billion[17] - Mobile data revenues reached ₱57.3 billion, a 1% increase, or +₱0.7 billion[17] Subscriber and Network Growth - Fiber net adds increased by 67% year-over-year to 265,000[12] - Total broadband subscribers increased by 6% to 4,122,521[142] - 5G individual devices increased to 10.5 million[17], representing 18% of devices[17] - Total data traffic reached 4,393 petabytes[17], a 6% increase[17] Cost Management and Investments - Total cash expenses, subsidies, and provisions decreased by 2% to ₱63.1 billion[20], a -₱1.1 billion decrease[20] - Compensation and benefits (ex MRP) decreased by 7% to ₱16.1 billion[20], a -₱1.3 billion decrease[20] - Selling and promotions expenses decreased by 18% to ₱3.5 billion[20], a -₱0.8 billion decrease[20] - 9M2025 capex stood at ₱43.0 billion[28] Debt and Sustainability - Net debt-to-EBITDA ratio is 2.61x[32] - PLDT received an MSCI ESG Rating of BBB[57] - Smart secured a 10-year ₱2 billion green loan[68]

© 2025 Fluor. DOW FORT SASKATCHEWAN PATH2ZERO EXPANSION PROJECT // ALBERTA, CANADA 1 Q3 2025 INVESTOR PRESENTATION SAFE HARBOR STATEMENT This presentation contains forward-looking statements (including without limitation statements to the effect that the Company or its management "will," "believes," "expects," "plans," "intends," "continue," "anticipates," is "positioned" or other similar expressions). These forward-looking statements, including statements relating to resolution of outstanding claims or law ...

Financial Performance Summary - Q2 FY2025 sales for continuing operations increased by 1367 billion yen, a 5% increase year-on-year[8, 10] - Operating income for Q2 FY2025 increased by 396 billion yen, a 10% increase year-on-year[8, 10] - Net income attributable to Sony Group Corporation's stockholders increased by 197 billion yen, a 7% increase year-on-year[8] - FY2025 sales forecast revised upward by 300 billion yen, a 3% increase from the August forecast[12, 13] - FY2025 operating income forecast revised upward by 100 billion yen, an 8% increase from the August forecast[12, 13] Segment Performance - Game & Network Services (G&NS) sales increased by 416 billion yen, a 4% increase year-on-year, but operating income decreased by 185 billion yen, a 13% decrease[11, 21] - Music segment sales increased by 942 billion yen, a 21% increase year-on-year, and operating income increased by 250 billion yen, a 28% increase[11, 25] - Imaging & Sensing Solutions (I&SS) sales increased by 791 billion yen, a 15% increase year-on-year, and operating income increased by 459 billion yen, a 50% increase[11, 44] - Entertainment, Technology & Services (ET&S) sales decreased by 440 billion yen, a 7% decrease year-on-year, and operating income decreased by 92 billion yen, a 13% decrease[11, 36] Strategic Changes - Sony executed a partial spin-off of Sony Financial Group Inc (SFGI) effective October 1, 2025, classifying the Financial Services business as a discontinued operation[7] - From Q3 FY25, Sony will apply the equity method to SFGI shares and record profit or loss from SFGI shares as operating income in continuing operations[7]

Company Presentation Information for investors, analysts, and interested parties Publication November 2025 Table of contents 2 1 | 8 K+S Group Board of Executive Directors – since June 1, 2025 Dr. Christian H. Meyer Dr. Carin-Martina Tröltzsch (Chairman) Christina Daske Dr. Jens Christian Keuthen You can find the CVs of our Executive Board members on the K+S website. For current information on the responsibilities of the individual members of the Board of Executive Directors, please refer to our bylaws whic ...