Vispa-cel (CB-010) for r/r LBCL - Vispa-cel demonstrated an 86% Overall Response Rate (ORR) in the optimized profile group [30, 84] - Vispa-cel achieved a 63% Complete Response (CR) rate in the optimized profile group [30, 84] - Vispa-cel showed a 53% 12-month Progression-Free Survival (PFS) rate in the optimized profile group [30, 84] - Caribou Biosciences anticipates initiating a pivotal phase 3 clinical trial for Vispa-cel in 2L LBCL CD19-naïve patients [3] CB-011 for r/r MM - CB-011 achieved a 92% Overall Response Rate (ORR) in BCMA-naïve patients at the recommended dose for expansion (RDE) [91] - CB-011 demonstrated a 75% ≥ Complete Response (CR) rate in BCMA-naïve patients at the RDE [91] - CB-011 showed a 91% Minimal Residual Disease (MRD) negativity rate in evaluable BCMA-naïve patients at the RDE [91] - 7 out of 12 patients achieved ≥VGPR (Very Good Partial Response) at ≥6 months with CB-011 at the RDE [91] Financial Position - Caribou Biosciences expects to report approximately $159.2 million in cash, cash equivalents, and marketable securities as of September 30, 2025 [3, 137, 138] Manufacturing - Vispa-cel manufacturing has the potential for 96% lower COGS (Cost of Goods Sold) than current autologous CAR-T cell therapies [15, 80]

Financial Performance - Total net product revenue reached $171.0 million, a 63% year-over-year increase[12, 27] - AUVELITY net product sales were $136.1 million, representing a 69% year-over-year growth[12, 27, 46] - SUNOSI net product revenue amounted to $32.8 million, a 35% year-over-year increase[12, 27, 56] - SYMBRAVO net product sales were $2.1 million[12, 27] - Cash and cash equivalents stood at $325.3 million as of September 30, 2025[12] Pipeline Development & Regulatory Milestones - An sNDA for AXS-05 in Alzheimer's disease agitation has been submitted to the FDA[12, 25, 74] - An NDA submission for AXS-12 for cataplexy in narcolepsy is anticipated in 4Q 2025[12, 25, 109] - A Phase 3 trial of solriamfetol in children and adolescents with ADHD is anticipated in 4Q 2025[12, 25, 82] Strategic Focus & Market Potential - The company is targeting therapeutic areas with high unmet needs, with potential approvals through 2028[11] - The company estimates a combined peak sales potential of >$16 billion across its pipeline[21]

Contract Overview - IREN secured a $9.7 billion AI cloud contract [1,9,14] - The contract includes $5.8 billion in GPU capex, including ancillaries [14] - The contract term is 5 years, with phased starts targeted in 2026 [9,14] - A 20% prepayment is included, credited to years 3-5 [9,14] Financial Projections - The estimated project EBITDA margin is approximately 85% [11] - The annualized run-rate revenue (ARR) is $1.94 billion [11] - The company projects $2.5 billion ARR, including other customers [25] Data Center Infrastructure - IREN is building 200MW of data centers for AI cloud services [9,16] - The estimated all-in capex is $14-16 million per MW (IT load) [19] - The company has 750MW of available power in Childress, Texas [20,22]

Financial Highlights - Net income reached $403 million, a 42% increase compared to $283 million in the prior year quarter[6,7] - Core income increased by 40% to a record $409 million, compared to $293 million in the prior year quarter[6,7] - Year-to-date core income also hit a record $1,025 million, up 5%[6,7] - Net investment income rose by 2% to $638 million pretax, with fixed income securities and other investments contributing $567 million and limited partnerships and common stock contributing $71 million[6] Property & Casualty (P&C) Operations - P&C core income was $456 million, up from $346 million, driven by lower catastrophe losses, improved underwriting results, and higher net investment income[6] - The P&C combined ratio improved to 928%, compared to 972% in the prior year quarter, including a 15 points catastrophe loss impact compared with 58 points in the prior year quarter[6] - P&C segments, excluding third party captives, saw gross written premium growth of 2% and net written premium growth of 3%[6] Life & Group (L&G) and Long-Term Care (LTC) - Life & Group experienced a core loss of $22 million, compared to a loss of $9 million in the prior year quarter[6] - Individual LTC policies have declined by 50% (~96000 policies) since 2015 with stable open claim counts[28] - Group LTC policies have declined 48% (~111000 insureds) since 2015 from active management with claim counts remaining stable[34] Capital and Dividends - Book value per share was $4183, while book value per share excluding AOCI was $4630, an 8% increase from year-end 2024 adjusting for $338 of dividends per share paid[6] - The Board of Directors declared a regular quarterly cash dividend of $046 per share[6]

Financial Performance - Q3 2025 - Loews Corporation's net income increased to $504 million, or $2.43 per share, compared to $401 million, or $1.82 per share, in Q3 2024[13] - The company repurchased 0.9 million shares at a cost of $85 million since June 30, 2025[13] - Book value per share increased to $88.39 as of September 30, 2025, from $79.49 as of December 31, 2024[13] - Dividends from subsidiaries totaled $189 million in Q3 2025[13] - The company held $3.6 billion in cash and investments at the parent company level as of September 30, 2025[8, 13] Subsidiary Highlights - CNA's net income attributable to Loews increased 43% year-over-year due to improved Property and Casualty underwriting results[17] - Boardwalk's net income improved 22% year-over-year due to increased transportation revenues[17] - Boardwalk executed a precedent agreement for its Texas Gateway Project, which would add 1.5 Bcf/d of capacity[17] - Loews Hotels' results improved year-over-year due to new properties and higher average daily rates and occupancy in Orlando[17] CNA Financial Highlights - CNA's net written premiums increased to $2.437 billion in Q3 2025 from $2.360 billion in Q3 2024[29] - CNA's invested assets (fair value) increased to $50.536 billion as of September 30, 2025, from $47.482 billion as of December 31, 2024[29] Boardwalk Pipeline Highlights - Boardwalk's operating revenue increased to $541 million in Q3 2025 from $474 million in Q3 2024[32] - Boardwalk's net income attributable to Loews increased to $94 million in Q3 2025 from $77 million in Q3 2024[32]

Financial Performance Highlights - Private Wealth Management (PWM) assets under management and administration (AUM&A) increased by 12% to a record $3.814 billion[5] - PWM fee income totaled $3.7 million for Q3 2025, a 13% increase compared to Q3 2024[5] - Operating revenue increased by 16.3% from Q3 2024[5] - Pre-tax, pre-provision (PTPP) earnings grew by 20% year-to-date (YTD)[6, 7] - Net income grew by 25% for the first nine months of 2025 compared to the prior-year period[7] Loan and Deposit Growth - Core deposits grew 9.3% annualized from the linked quarter and 8.8% from Q3 2024[5] - Loan growth was 10.4% annualized from the linked quarter and 9.4% from Q3 2024[5] - The company aims for 10% annual deposit and loan growth[10] Net Interest Margin (NIM) - The net interest margin (NIM) was 3.68%, compared to 3.67% for the linked quarter and 3.64% for the prior-year quarter[5] - Floating rate loans totaled $1.933 billion[17] - Floating rate deposits totaled $1.890 billion[17] Asset Quality and Liquidity - As of September 30, 2025, 93% of the loan portfolio was classified in Category I[32] - Total liquidity was $2.068 billion as of September 30, 2025[35] - 69% of total deposits are insured or collateralized[36] Capital Strength - Tangible book value per share (TBVPS) grew 16.8% annualized from the linked quarter and 15.6% from Q3 2024[5]

Financial Performance - PriceSmart's total revenue for fiscal year 2025 reached $5.27 billion, representing a 7.2% increase compared to the previous year[114] - Net merchandise sales for fiscal year 2025 amounted to $5.15 billion, a 7.7% growth from the prior year[113] - Membership income grew by 13.7% to $85.6 million in fiscal year 2025[113] - Adjusted EBITDA for fiscal year 2025 was $320.7 million[114] - Earnings per diluted share for fiscal year 2025 were $4.82[114] - Net merchandise sales growth in constant currency was 8.5% for fiscal year 2025[113] Membership Metrics - PriceSmart has 2.01 million members as of August 31, 2025[12] - The membership renewal rate is 88.8% for the trailing twelve-month period ended August 31, 2025[35] Expansion and Locations - PriceSmart operates 56 warehouse clubs across 12 countries and one U S territory[38] - The company has announced plans to open new clubs in Montego Bay and South Camp Road, Jamaica in 2026[17] - The company achieved a 4.9% penetration rate of total net merchandise sales through digital platforms[17]

Financial Performance - Net interest income for 3Q 2025 was $43.1 million, a 0.2% increase from 2Q 2025[35, 38, 54] - Noninterest income was $29.4 million, representing 40.6% of revenue[35, 38, 118] - Adjusted EPS was $0.66 and adjusted ROAA was 1.28%[35, 118] - Tangible book value per share was $16.90, an increase of $0.79 from the prior quarter[35, 40, 118] Balance Sheet - Total loans reached $4.1 billion, a 1.4% increase from June 30, 2025[15, 35, 61, 118] - Total deposits amounted to $4.4 billion, a 1.7% increase from June 30, 2025[15, 35, 68, 118] - The loan to deposit ratio was 93.0%, a 0.2% decrease from the previous quarter[35, 68, 71, 118] Asset Quality and Capital Strength - Total reserves to loans were 1.51%[35, 100, 104, 118] - CET1 was 10.8%, well above bank regulatory requirements[35, 106, 118] - Net recoveries to average loans were (0.17)% for the quarter[35, 98, 104] Divisional Performance - Banking services noninterest income decreased 23.9% from 2Q 2025, primarily due to a $2.1 million gain on sale of a purchased credit deteriorated hospitality loan in 2Q 2025[75, 80] - Retirement and Benefit Services revenue increased 2.9% compared to 2Q 2025, driven by an increase in asset-based fees[85] - Wealth Advisory Services revenue decreased 10.9% from 2Q 2025, primarily due to the timing of the wealth management platform conversion and a decrease in brokerage and insurance commissions[90]

Financial Performance - Adjusted Funds From Operations Per Share (FFOPS) for 3Q25 was $069, a 62% year-over-year increase[12] - Same Property Cash Net Operating Income (NOI) increased by 46% for the Total Portfolio[12] - The company increased the 2025 FFOPS guidance by $003 at the midpoint, implying a 51% year-over-year growth[28,30] Leasing and Occupancy - Total leasing activity reached 971000 square feet in 3Q25 and 23 million square feet year-to-date[12] - The Defense/IT Portfolio occupancy rate was 954% occupied and 970% leased[12] - Total Portfolio retention rate was 82%[12] Investment and Capital Allocation - Acquired Stonegate I for $45 million, which is expected to be nearly 1/2-cent accretive to FFOPS in 2025 and nearly 2-cents accretive in 2026[15,20,52] - Capital committed to new investments was increased to a range of $225 million to $275 million[24,48] - The company issued $400 million of 450% Senior Notes due 2030[72] Market Factors and Growth Drivers - The FY 2026E Budget Request includes approximately $113 billion from the One Big Beautiful Bill Act (OBBBA) for DOD activities[33,36] - The Defense/IT Portfolio accounts for 90% of Annualized Rental Revenues (ARR)[39,40]

Financial Performance - EBITDA increased by 48% from US$136.5 million in 3Q24 to US$202.1 million in 3Q25[4] - Net income decreased by 29% from US$236.9 million in 3Q24 to US$167.1 million in 3Q25, noting that 3Q24 net income included US$157.3 million from the sale of Chaupiloma[5] - The company's cash position is US$486 million, with a debt of US$711 million[5] - The leverage ratio decreased from 2.44x in 3Q24 to 2.17x in 3Q25[5] Production - Silver production increased by 3% from 4.3 million ounces (MOz) in 3Q24 to 4.4 million ounces (MOz) in 3Q25[4] - Gold production decreased by 21% from 38.9 thousand ounces (kOz) in 3Q24 to 30.9 thousand ounces (kOz) in 3Q25[4] - Copper production decreased by 24% from 16.9 thousand tons (kton) in 3Q24 to 12.8 thousand tons (kton) in 3Q25[4] Project Development - San Gabriel project has reached 96% total progress, with construction 95% complete, and commissioning at 65%[6, 17] - 3Q25 CAPEX related to San Gabriel was US$92 million, with a total cumulative CAPEX of US$681 million[6, 17] - The company anticipates the first gold bar from San Gabriel in 4Q25[16, 25] Other Key Points - A dividend payment of US$0.1446 per share/ADS has been approved by Buenaventura's Board of Directors[6] - Coimolache received a permit for full-capacity operations at its mine and leach pad, which is expected to lead to higher cash flow in the coming quarters[6, 24]