Financial Performance & Outlook - Black Hills Corp reaffirmed its full-year 2025 EPS guidance in the range of $400 to $420, reflecting approximately 5% year-over-year growth at the midpoint[7] - The company is targeting long-term EPS growth of 4% to 6%, planning to deliver in the upper half of this range starting in 2026, off a 2023 base of $375 per share[7,8] - Black Hills Corp is forecasting $1 billion in capital investment for 2025 and a total of $47 billion from 2025 to 2029[7] - The company targets a dividend payout ratio of 55% to 65%[7] Capital Investments & Growth Initiatives - Black Hills Corp plans to invest $47 billion in capital projects from 2025 to 2029, with key investment categories including customer growth, safety and system integrity, and electric generation and transmission[7,9,13] - The company is developing plans to serve more than 1 GW of total data center demand within the next 10 years, including 500 MW in the current plan by 2029, expecting data center EPS contribution to grow to more than 10% beginning in 2028[16] - The Ready Wyoming transmission project, a 260-mile electric transmission expansion costing $350 million, is on track for completion by year-end 2025[41,69] - The company obtained approval for a 99 MW dispatchable natural gas generation project (Lange II) in South Dakota, with an estimated investment of $280 million, expected to be in service in the second half of 2026[49,50,51] Regulatory & Reliability - A unanimous black box settlement was approved for Kansas Gas, providing $108 million in new annual revenues with new rates effective August 1, 2025[52] - Black Hills Corp is requesting recovery of $453 million of investments and inflationary impacts in Nebraska Gas application NG-124, with interim rates expected to be effective August 1, 2025[52]

Financial Performance - Q2 2025 - Sales increased by 9.1% to $255.5 million in Q2 2025, compared to $234.1 million in Q2 2024[54] - Adjusted EBITDA increased by 11.2% to $69.2 million in Q2 2025[56] - Adjusted Net Earnings increased by 16.8% to $41.6 million in Q2 2025, compared to $35.6 million in Q2 2024[58] - Adjusted EPS increased by 16.5% to $1.27 per share in Q2 2025, compared to $1.09 per share in Q2 2024[59, 60] Financial Performance - YTD 2025 - Sales increased by 6.8% to $506.0 million YTD 2025, compared to $473.7 million YTD 2024[63] - Adjusted EBITDA increased by 10.1% to $135.5 million YTD 2025[65] - Adjusted Net Earnings increased by 18.0% to $81.6 million YTD 2025, compared to $69.2 million YTD 2024[67] - Adjusted EPS increased by 17.5% to $2.49 per share YTD 2025, compared to $2.12 per share YTD 2024[69] Overall Company Financials - 2024 Sales were $954 million[9] - 2024 Adjusted EBITDA was $250 million with a margin of 26.3%[11]

Financial Performance (Q3-25) - Net revenue increased by 11% to $1.06 billion compared to $0.96 billion in Q3-24, excluding USAID and DOS [5] - Operating income increased by 37% to $159 million compared to $116 million in Q3-24, excluding USAID and DOS [5] - Earnings per share (EPS) increased by 46% to $0.41 compared to $0.28 in Q3-24, excluding USAID and DOS [5] Segment Performance (Q3-25) - CIG segment net revenue increased by 2% to $633 million [7] - GSG segment net revenue increased by 29% to $429 million [7] - CIG operating income margin increased by 230 basis points to 19.9% [7] - GSG operating income margin increased by 130 basis points to 15.2% [7] Customer Revenue (Q3-25) - U.S Federal net revenue increased by 46% [8] - U.S State & Local net revenue increased by 30% [8] - U.S Commercial net revenue decreased by 4% [8] - International net revenue decreased by 1% [8] Financial Overview (FY25 YTD) - Net revenue increased by 9% to $3.454 billion [14] - EBITDA increased by 15% to $476 million [15] - Operating income increased by 21% to $432 million [16] - Diluted EPS increased by 26% to $1.11 [16] Backlog - Q3-25 Backlog is $3.09B [10] Guidance - Q4-25 Net Revenue is expected to be between $1.0 billion and $1.1 billion [32] - Q4-25 Adjusted EPS is expected to be between $0.38 and $0.43 [32] - FY-25 Net Revenue is expected to be between $4.454 billion and $4.554 billion [32] - FY-25 Adjusted EPS is expected to be between $1.49 and $1.54 [32]

Company Overview - Cenovus has approximately 1,800 million shares outstanding and a market capitalization of $38 billion[6] - The company's 2025 production is approximately 815 thousand barrels of oil equivalent per day (MBOE/d)[6] - Cenovus possesses 8.5 billion barrels of oil equivalent (BBOE) in proved plus probable (2P) reserves as of 2024[6] Financial Performance - The trailing twelve months Adjusted Funds Flow (AFF) is $7.3 billion[7] - As of June 30, 2025, Cenovus's net debt stands at $4.9 billion[7] - The company's trailing twelve months total cash returns to shareholders amounted to $3.2 billion[7] - The annual dividend per share is $0.80, representing a yield of 3.8%[7] Operational Highlights - Upstream production for the second quarter of 2025 reached 766 MBOE/d[9] - Downstream throughput for the same period was 666 thousand barrels per day (Mbbls/d)[9] - The company returned $819 million to shareholders through share buybacks and dividends in Q2 2025[11] Growth and Capital Investment - Cenovus is targeting production growth to approximately 950,000 BOE/d by 2028[12] - The company's capital investment for 2025 is projected to be between $4.6 billion and $5.0 billion[30]

Second Quarter 2025 Earnings Presentation July 31, 2025 Today's Speakers Marty Kropelnicki Chairman & CEO James Lynch Sr. Vice President, CFO & Treasurer Shilen Patel Chief Business Development Officer and Vice President, TWSC, Inc. 2 Signed agreements to add up to 15,000+ new wastewater connections through a master planned community in Silverwood, California 5 Received first PFAS settlement payment for California, Washington, and New Mexico Maintained industry leading credit rating for Cal Water of A+/stab ...

Company Overview - AMG has partnered with leading investment specialists for over 30 years[2] - AMG has approximately $771 billion in Assets Under Management (AUM)[2, 63] - AMG's strategy supports compounding of earnings growth at an industry-leading rate[9] Asset Allocation and Growth - Liquid Alternatives AUM is approximately $182 billion[6] - Differentiated Long-Only AUM is approximately $440 billion[6] - Private Markets AUM is approximately $149 billion[6] - Over 50% of EBITDA is from High-Growth Areas[8] Financial Performance - The company has approximately $2 billion in 2024 Annual Economic Net Income[46] - Approximately $2.8 billion in excess capital was returned over the last 5 years[52] - The company has repurchased approximately 10% of shares annually over the last 5 years[52] - The average repurchase price over the last 5 years was $140[52] - Adjusted EBITDA increased from $795 million in 2020 to $973 million in 2024[56]

Financial Performance - Natural gas and oil sales were $344 million[6] - Operating cash flow was $210 million, or $0.71 per diluted share[6] - Adjusted EBITDAX for the quarter was $260 million[6] - Adjusted net income was $40 million, or $0.13 per diluted share[6] Operational Highlights - Five Western Haynesville wells were turned to sales in the second quarter with an average lateral length of 10,897 feet and an average per well initial production rate of 36 MMcf per day[6] - 21 wells were turned to sales to date in 2025 in the Legacy Haynesville area with an average lateral length of 11,803 feet and a per well initial production rate of 25 MMcf per day[6] - The company drilled and completed wells at an average cost of $2,647 per completed lateral foot in the Western Haynesville[6,57] Drilling Program - For the six months of 2025, the company drilled 19 gross wells (17.5 net) and turned 24 gross wells (20.3 net) to sales[16] - The average lateral length for operated wells turned to sales was 11,137 feet in the Haynesville and 11,684 feet in the Bossier[16] - The average initial production rate for operated wells turned to sales was 27 MMcf per day in the Haynesville and 26 MMcf per day in the Bossier[16] Capitalization and Liquidity - As of June 30, 2025, the company had $26 million in cash and cash equivalents[21] - The company's total debt was $3064 million, including $475 million outstanding on the revolving credit facility[21] - The company has strong financial liquidity of $10 billion[59]

2025 SECOND QUARTER EARNINGS Delivering For Customers AND Investors July 31, 2025 1 Forward-Looking Statements This presentation and the oral remarks made in connection with it contain statements regarding PG&E Corporation's and Pacific Gas and Electric Company's (the "Utility") future performance, including expectations, objectives, and forecasts about operating results (including 2025 non-GAAP core earnings), debt and equity issuances, refinancing activity, rate base growth, capital expenditures, cash flo ...

Company Overview - Gran Tierra Energy is an independent international energy company focused on Canada, Colombia, and Ecuador[17] - Q2 2025 production was approximately 47 MBOEPD[19] - The company has repurchased almost 7.5 million shares, representing 20% of its outstanding shares since January 1, 2022[16] Reserves and Valuation - 1P reserves are estimated at 167 MMBOE with a 10-year Reserve Life Index (RLI)[20] - 2P reserves are estimated at 293 MMBOE with a 17-year RLI[20] - 1P After-Tax NPV10 is valued at US$1.4 billion, or US$19.51 per share[20] - 2P After-Tax NPV10 is valued at US$2.2 billion, or US$41.03 per share[20] Financial Objectives and Hedging - The company targets generating approximately $20 million of free cash flow based on the base case of guidance[72] - The company aims for a Net Debt to EBITDA ratio of 0.8 to 1.2 times by the end of 2026, with gross debt less than $600 million[72] - The company targets a Net Debt to EBITDA ratio of less than 1.0 times and gross debt of less than $500 million by the end of 2027[72]

Financial Performance - Net sales increased to $682.8 million, up from $661.5 million, a 3.2% increase[15] - Adjusted EBITDA grew to $101.4 million from $100.9 million, with a margin of 14.9%[15] - Adjusted EPS increased by 2% to $1.06[17] - Free cash flow was slightly positive at $0.2 million[18] Segment Performance - Climate Solutions - Climate Solutions revenue increased by 11%[6] - Climate Solutions adjusted EBITDA increased by 10%[6] - Climate Solutions net sales were $397.4 million, a 15% increase from $357.3 million[11] - Data Centers sales grew significantly, driving overall growth in Climate Solutions[11] Segment Performance - Performance Technologies - Performance Technologies revenues decreased by 8%[9] - Performance Technologies adjusted EBITDA decreased by 14%[9] - Performance Technologies net sales were $285.5 million, down from $309.0 million[13] Fiscal Year 2026 Outlook - The company raised its revenue outlook to +10% to +15%, projecting $2.84 billion to $2.97 billion in net sales[19] - Adjusted EBITDA is expected to be between $440 million and $470 million, a +12% to +20% increase[19] - Climate Solutions revenue is projected to grow by +25% to +35%[19] - Performance Technologies revenue is expected to decline by (2%) to (12%)[19]