Financial Performance H1 2025 - MLP Group achieved a record high in total revenue of €529 million, driven by growth in all competence fields[3,6] - Assets under management reached a record high of €63.9 billion[3,12] - Non-life insurance premium volume also hit a record high of €785 million[3,12] - Recurring revenue accounted for 68% of the sales revenue in 2024[7] - EBIT for H1 2025 was €42.7 million, a decrease of 12% compared to €48.7 million in H1 2024[17] Strategic Developments - The company is developing an AI service agent to increase client benefit and improve process efficiency[19,20,21] - MLP Group is expanding its corporate client business through the :pxtra digital platform, already serving over 200 corporate clients and 10,000 users[23,24] - A new digital platform, RVM SmartProtect, is being launched to tap into the SME market[25,26] Forecast and Planning - The forecast for 2025 is confirmed, with an expected EBIT of €100 to €110 million[3,31] - The planning for 2028 is reaffirmed, projecting significant growth to an EBIT of €140 to €150 million[3,36] - The company aims to increase assets under management to €75 to €81 billion and non-life insurance premium volume to €1 to €1.1 billion by 2028[37]

Operating & Financial Results Second Quarter 2025 August 14, 2025 Chairman & CEO CFO Nangeng Zhang Jin "James" Cheng 1 Safe Harbor Statement This presentation contains certain financial measures that are not recognized under generally accepted accounting principles in the United States ("GAAP"), including adjusted EBITDA (including adjusted EBITDA margin), non-GAAP net income, non-GAAP diluted earnings per share/ADS and cash flow. These non-GAAP measures should be considered in addition to, and not as a sub ...

Financial Performance - Revenue increased by 12% to €635 million, or 16% on a constant currency basis[11] - DTC (Direct-to-Consumer) revenue increased by 9% to €244 million, or 12% on a constant currency basis[11] - B2B (Business-to-Business) revenue increased by 15% to €390 million, or 18% on a constant currency basis[11] - Gross profit increased by 14% to €384 million, with a gross profit margin of 605%, an increase of 100 basis points[11, 18] - Adjusted EBITDA increased by 17% to €218 million, with an adjusted EBITDA margin of 344%, an increase of 140 basis points[11] - Adjusted net profit increased by 26% to €116 million[11] - Adjusted EPS (Earnings Per Share) increased by 27% to €062[11, 27] Regional Performance - Americas revenue increased by 10%, or 16% on a constant currency basis, to €312 million[14] - EMEA (Europe, Middle East, and Africa) revenue increased by 13%, or 13% on a constant currency basis, to €259 million[14] - APAC (Asia-Pacific) revenue increased by 21%, or 24% on a constant currency basis, to €63 million[14] Cost Management and Balance Sheet - Selling & Distribution Expenses were €163 million, representing 256% of revenue, a decrease of 80 basis points[20] - General & Administrative Expenses were €31 million, representing 49% of revenue, an increase of 40 basis points[20] - Net debt increased by 6% to €1096 million, with net leverage at 17x LTM (Last Twelve Months) Adjusted EBITDA[11, 32] - Inventory-to-sales ratio improved to 33% of LTM revenue[30]

Moving Infrastructure Forward Q2 2025 Update Presentation August 14, 2025 1 SAFE HARBOR STATEMENT This presentation is for informational purposes only and contains forward-looking statements within the meaning of the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995, as amended. Such forward-looking statements include statements concerning anticipated future events and expectations that are not historical facts. All statements, other than statements of historical fact, are sta ...

Financial Performance Highlights - Tapestry delivered record revenue of over $7.01 billion, a 5% increase compared to the prior year[46,54] - The company achieved record EPS of $5.10, representing a 19% growth[46,54] - Adjusted free cash flow exceeded expectations, generating over $1.3 billion in the year[46] - Operating margin increased to 20.0%, driven by 210 basis points of gross margin expansion[46,54] Brand Performance - Coach's net sales reached $5.60 billion, with a 10% increase year-over-year[54] - Kate Spade's net sales were $1.20 billion, a 10% decrease year-over-year[54] - Stuart Weitzman's net sales were $215 million, an 11% decrease year-over-year[54] Geographical Trends - North America saw a 5% revenue increase, led by double-digit growth at Coach[50] - Europe experienced a 28% revenue increase, driven by DTC strength and new customer acquisition[50] - Greater China's revenue increased by 5%, with strength in Digital[50] Fiscal Year 2026 Outlook - The company expects revenue to approach $7.2 billion, with mid-single-digit growth[62] - Diluted adjusted EPS is projected to be $5.30 to $5.45, up 4% to 7%[62] - Free cash flow is expected to approach $1.3 billion[62] Shareholder Value - Tapestry returned $2.3 billion to shareholders in FY25 alone[68] - The company executed a $2 billion Accelerated Share Repurchase program[70] - The annual dividend rate increased by 14% to $1.60 per share in Fiscal 2026[70]

Financial Performance - JD.com's net revenues show strong growth momentum, with a 2019-2024 Compound Annual Growth Rate (CAGR) of 15%[9] - Total net revenues for Q2 2025 reached RMB 3566.6 亿, representing a year-over-year (YoY) increase of 22.4%[9, 31] - Net product revenues grew by 20.7% YoY, reaching RMB 2824 亿 in Q2 2025, with a 2019-2024 CAGR of 13%[11] - Net service revenues increased significantly by 29.1% YoY, amounting to RMB 742 亿 in Q2 2025, demonstrating a 2019-2024 CAGR of 28%[11] Revenue Breakdown - Within net service revenues, marketplace and marketing revenues grew by 21.7% YoY, while logistics and other service revenues saw a substantial increase of 34.3% YoY in Q2 2025[13] - Electronics and home appliances revenues grew by 23.4% YoY, while general merchandise revenues increased by 16.4% YoY in Q2 2025[15] Profitability - JD Retail's operating income for Q2 2025 was RMB 139 亿, with an operating margin of 4.5%[17, 20] - JD Group's Non-GAAP net profit for Q2 2025 was RMB 73.94 亿, resulting in a Non-GAAP net margin of 2.1%[22, 31] Cash Flow - Adjusted operating cash flow for the trailing twelve months (TTM) ending Q2 2025 was RMB 580 亿[26] - Free cash flow for the TTM ending Q2 2025 was RMB 101 亿[27]

Financial Highlights - Golar reported a market capitalization of $4.2 billion[11] - The company's total Golar cash stands at $891 million[11] - Golar's net interest-bearing debt is $1.2 billion[11] - The Adjusted EBITDA backlog is approximately $17 billion[14] - Last Twelve Months (LTM) Adjusted EBITDA is $208 million[15] Operational Highlights - FLNG Hilli has a 20-year redeployment contract in Argentina[7, 24] with an annual Adjusted EBITDA of $285 million[30] and an Adjusted EBITDA backlog of $5.7 billion before commodity upside[30] - FLNG Gimi commenced a 20-year contract[9, 31] with an annual Adjusted EBITDA of approximately $151 million[35] and an Adjusted EBITDA backlog of $3 billion[35] - FID reached on MKII FLNG for a 20-year charter in Argentina[10, 36] with an Adjusted EBITDA backlog of $8 billion before commodity upside[39, 71] Strategic Developments - $575 million in convertible bonds were issued, and 2.5 million shares were repurchased[22, 52] - The company declared a dividend of $0.25 per share payable in September 2025[52] - The company is targeting a 5th FLNG unit, to follow shortly after the 4th FLNG unit has been ordered and chartered[41]

Business Overview - Vipshop is China's leading online discount retailer for brands, offering branded products at exceptional value[6] - The company's competitive strengths include high market demand, strong merchandising expertise, superior customer experience, operational excellence, and visionary management[9] - Vipshop's unique business model connects brands and customers through great value and differentiated products, supported by business intelligence, a merchant platform, and optimized IT infrastructure[16] - The company is a partner-of-choice discount retail platform for brands, offering a one-stop inventory solution with proven sales efficiency and ROI[19] Customer Engagement - Vipshop has a highly engaged and loyal customer base with strong purchasing power, with approximately 75% of customers being women and over 70% being post-80s and -90s[27] - In FY 2024, repeat customers totaled 73 million, representing 86% of total active customers, while active Super VIP customers numbered 8.8 million, contributing 49% of online net GMV and shopping >7x more frequently with >8x ARPU compared to Non-SVIP customers[27] - Total active customers reached 847 million in 2024, a decrease of 31% compared to 874 million in 2023[30] Financial Performance - Vipshop reported total net revenues of RMB 108421 million in 2024, a decrease of 39% from RMB 112856 million in 2023[51] - The company maintained solid profitability, with a non-GAAP net income attributable to Vipshop's shareholders of RMB 9033 million in 2024[51] - Vipshop has a healthy gross margin, with a gross profit of RMB 25470 million in 2024[57] Capital Expenditure and Shareholder Return - Key assets include 20 Shan Shan Outlets, 7 bonded warehouses, and 7 distribution centers[75] - The company has consistently returned value to shareholders, with a total of US$27359 million returned from FY2021 to FY2024 through share repurchases and dividends[77] - For fiscal year 2024, Vipshop paid an annual cash dividend of US$2474 million and continues share repurchase under the current US$10 billion share repurchase program[78]

Financial Performance - Youdao achieved a 7.2% year-over-year (YoY) growth in net revenues for the second quarter of 2025, reaching RMB 1,417.5 million[5] - The company reported its first-ever profitable second quarter in 2025, with an income from operations of RMB 28.8 million[7,8] - Operating cash flow showed a net inflow of RMB 185.0 million in the second quarter of 2025[9] - Online Marketing Services achieved record-high net revenues in the second quarter of 2025, reaching RMB 632.9 million, a 23.8% YoY increase[28] Business Segments & AI Strategy - Youdao is strategically positioned as an AI-powered solutions provider, focusing on AI applications for learning and advertising[17] - The company is implementing an AI strategy across its Learning Services, Smart Devices, and Online Marketing Services[12] - Youdao launched AI Essay Grading in the second quarter of 2025, powered by its Large Language Model (LLM) Confucius[19,22,24] - Youdao's Digital Content Services, including Youdao Lingshi, offer personalized learning paths, AI quiz recommendations, and AI-based college admission advisors[19] Key Balance Sheet Items (June 30, 2025) - Cash assets totaled RMB 613.847 million[42] - Total current assets amounted to RMB 1,573.283 million[42] - Contract liabilities stood at RMB 856.684 million[42]

Company Performance & Financials - For H1 2025, electricity production reached 4,706 GWh, a decrease of 1% compared to 4,756 GWh in H1 2024 [63] - Operating income for H1 2025 was RON 2,744,270 thousand, a 29.7% increase from RON 2,116,436 thousand in H1 2024 [63] - Income from electricity sales in H1 2025 totaled RON 2,629,640 thousand, a 30.5% increase from RON 2,015,351 thousand in H1 2024 [63] - Expenses related to the contribution to the CFTE Energy Transition Fund increased significantly by 7675.8%, from RON 6,493 thousand to RON 504,881 thousand [63] - Net profit for H1 2025 was RON 866,667 thousand, a 2.8% increase from RON 843,135 thousand in H1 2024 [63] - Sales on the competitive market (bilateral agreements, DAM, and IDM) accounted for 99.60% of total sales, amounting to 5,044,320 MWh with a value of RON 2,620,887,451 [65] Projects & Development - The Unit 1 Refurbishment Project is progressing, with an EPC contract valued at EUR 1.9 billion [35] - An EPCM contract for Units 3 & 4 is estimated at EUR 3.2 billion, structured in LNTP and FNTP phases [39] - A loan agreement for EUR 145 million was signed with the European Investment Bank (EIB) to support the completion of Europe's first tritium removal facility (CTRF) [47] - NuScale technology obtained approval from the US Nuclear Regulatory Commission (US NRC) for the standard SMR NuScale VOYGR design, with a modular power of 77MWe, intended for the SMR Doicesti project [53] Shareholding Structure - The Romanian State, through the Ministry of Energy, holds 82.4981% of the shares, totaling 248,850,476 shares [14] - Legal entities hold 12.8718% of the shares, amounting to 38,826,907 shares [14] - Natural persons hold 4.6301% of the shares, totaling 13,966,511 shares [14]