2025 Third Quarter INVESTOR PRESENTATION Southgate Homes | Reserve at Watters| Allen, TX Forward Looking Statements This presentation contains "forward-looking statements" within the meaning of the Private Securities Litigation Act of 1995. These statements concern expectations, beliefs, projections, plans and strategies, anticipated events or trends and similar expressions concerning matters that are not historical facts and typically include the words "anticipate," "believe," "consider," "estimate," "expe ...

Financial Performance - Antero Midstream's Adjusted EBITDA increased by 10% year-over-year in 3Q25[10] - Free Cash Flow (FCF) after Dividends increased significantly by 94% year-over-year in 3Q25[10] - The company's leverage ratio (Net Debt/Adjusted EBITDA) improved to 2.7x[10] Operational Achievements - Antero Midstream achieved a high uptime availability of over 99%[11] - Gathering and compression volumes increased by 5% year-over-year[11] - Processing and fractionation capacity had a 100% utilization rate[11] Balance Sheet and Liquidity - As of September 30, 2025, Antero Midstream had over $870 million in liquidity with no near-term maturities[15] - Consolidated total debt was $3,029.6 million as of September 30, 2025[23] - Adjusted EBITDA for the last twelve months ended September 30, 2025, was $1,114.072 million[23]

EMPIRE STATE REALTY TRUST Investor Presentation October 2025 North Sixth Street Collec Multi-Purpose Space at ESB Williamsburg, Brooklyn Rooftop and Penthouse Lounge at 501 Seventh Ave Sol de Janeiro at One Grand Central Place 33rd Street Empire Lounge at ESB CLA at One Grand Central Place Empire State Empire State Building EMPIRE STATE REALTY TRUST 3 | 28 ESRT OVERVIEW Why ESRT? Pure Play NYC REIT High-Quality Office: Modernized, Amenitized, Energy Efficient, Near Mass Transit Competitive Advantages Conten ...

Third Quarter 2025 Earnings Release Changing How the World Reaches You® Adjusted segment EBITDA, a non-GAAP financial measure, includes noncontrolling interest & excludes loss from unconsolidated entity and is calculated by adding back segment depreciation and amortization expense to segment operating income, and excludes certain costs, expenses, other charges, gains or income that are included in the determination of operating income (loss) under GAAP, but that management would not consider important in ev ...

Financial Performance - Normalized net income increased by 7% in 3Q25[83] - Normalized EBITDA reached BRL 384 billion in 3Q25[83] - A share buyback program of R$25 billion was approved[18,92] - R$ 6 billion in dividends announced year-to-date[92] Business Unit Performance - Brazil Beer volume declined by 77% while NR/hl increased by 57%[57] - Brazil NAB volume decreased by 86% but NR/hl grew by 100%[59] - LAS (Latin America South) experienced a volume decrease of 08% with NR/hl increasing by 100%[62] - CAC (Central America and the Caribbean) saw a volume increase of 13% and NR/hl growth of 14%[67] - Canada's volume decreased by 20% while NR/hl increased by 20%[70] Strategic Initiatives - Zé Delivery's GMV (Gross Merchandise Value) reached BRL 80 billion annualized with a 9% increase in AOV (Average Order Value)[31] - Premium & Super Premium volumes up more than 9%[26] - The company is focused on maximizing return on investments and disciplined cost management[81]

Financial Highlights - The company has colocation contracts that deliver compelling economics and strong margins[5] - The company's 12-year contracts with CoreWeave provide over $10 Billion in total contract value and approximately $850 Million in average annual run rate revenue[5] - CoreWeave is funding up to $1.5 Million per MW (or approximately $750 Million) of data center build out costs, credited against hosting payments[11] - Core Scientific is responsible for funding $104 Million of capex for the 70 MW expansion[11] Infrastructure and Power Capacity - The company has approximately 1.4 GW of existing gross power capacity, enabling approximately 1 GW of client-billable power across 9 U S sites[6] - The company has approximately 2.3 GW in existing and future gross power allocations from utility partners[9] - The company has approximately 1.5 GW in existing and future billable power available for colocation contracts[9] - The company is progressing approximately 1 GW of incremental capacity through targeted paid load studies[10] - Total potential expansion opportunities in aggregate are approximately 3.3 GW of gross power and approximately 2.2 GW of billable power[10] CoreWeave Contract Details - The CoreWeave infrastructure requires approximately 590 MW of infrastructure (~800 MW gross)[11] - The anticipated profit margin for the CoreWeave contracts is 75% to 80%[11] - Approximately 120+ MW are energized across Denton & Marble sites[16]

Financial Performance - Revenues excluding fuel surcharge grew by 10% year-over-year to $13 billion in 3Q25[80] - Adjusted income from operations declined by 13% year-over-year, primarily due to $16 million in claims-related costs[80] - Adjusted diluted earnings per share decreased from $018 in 3Q24 to $012 in 3Q25[75] - Adjusted EBITDA increased to $149 million in 3Q25 from $144 million in 3Q24[75] Segment Results - Truckload revenues excluding fuel surcharge increased by 17% year-over-year, driven by the Cowan Systems acquisition, but income from operations decreased by 16%[85] - Dedicated average trucks grew 28% year-over-year due to the Cowan acquisition[85] - Intermodal revenues excluding fuel surcharge increased by 6% year-over-year, driven by a 10% increase in volume[88] - Logistics revenues excluding fuel surcharge increased by 6% year-over-year, while income from operations decreased by 16%[91] Capital Allocation and Strategy - The company has a $150 million share repurchase program, with approximately $461 million remaining authorization as of September 30, 2025[60] - Dividends have increased 90% since the IPO in April 2017[60] - The company identified $40 million in cost savings in 2025 driven primarily by Cowan Systems synergies and productivity initiatives[71]

Today's Speakers Marty Kropelnicki Investing for Life Third Quarter 2025 Earnings Presentation October 30, 2025 ©2025 California Water Service Group 1 Chairman & CEO James Lynch Sr. Vice President, CFO & Treasurer Greg Milleman Vice President, Rates & Regulatory Affairs ©2025 California Water Service Group 2 Forward-Looking Statements and Other Important Information Executing Strategy in Q3 2025 Delivered strong performance through first nine months of 2025* Invested $135.2 million in Q3 in water system inf ...

Financial Performance - Q3 2025 shipping volume was 419K NT, a decrease of 19% compared to 520K NT in Q3 2024 and a decrease of 11% compared to 472K NT in Q2 2025[21] - Steel revenue in Q3 2025 was $473 million, down 12% from $539 million in Q3 2024 and down 11% from $534 million in Q2 2025[21] - Adjusted EBITDA for Q3 2025 was $(87) million, a decrease of $91 million from $4 million in Q3 2024 and a decrease of $55 million from $(32) million in Q2 2025[21] - Net loss in Q3 2025 was $(485) million, a decrease of $378 million from $(107) million in Q3 2024 and a decrease of $374 million from $(111) million in Q2 2025[21] - Adjusted EBITDA margin for Q3 2025 was -166%[21] Strategic Initiatives - The company is accelerating the retirement of blast furnace and coke oven operations as it ramps up EAF production through 2025 and 2026[28] - The company achieved first heat for EAF 1 in July 2025[37] - Construction is progressing on EAF 2, with commissioning activities expected in early 2026[37] Market Factors - Steel tariffs of 50% persist on imported steel into the US[34] - There is a current oversupply in the Canadian coil market due to the US market being cut off from Canadian steel mills[34] Safety - The company is implementing an ISO 45001 Safety Management System to further improve health and safety performance[17]

Financial Performance - Teekay Tankers reported GAAP net income of $92.1 million and adjusted net income of $53.3 million[6] - GAAP EPS was $2.66, while adjusted EPS was $1.54[6] - Free cash flow (FCF) was $68.7 million, and cash reserves stood at $775 million as of September 30, 2025[6] Spot Rate and Market Dynamics - Q3 2025 spot rates for VLCC, Suezmax, and Aframax/LR2 were $30,900, $31,500, and $33,400 respectively[8] - Q4 2025 to-date spot rates are $37,200 for VLCC, $45,500 for Suezmax, and $35,200 for Aframax/LR2, with 52%, 47%, and 54% of days booked respectively[10] - The company out-chartered one Suezmax vessel for $42,500 per day for one year and two Aframax-sized vessels for an average of $33,275 per day for 12-18 months[11] Strategic Transactions and Capital Allocation - Teekay Tankers completed the acquisitions of the Suezmax Ulsan Spirit and the VLCC Singapore Spirit[11] - Four vessel sales were completed in Q3-25 and Q4-25 to-date, with total gross proceeds of $158.5 million and estimated gains of approximately $47.5 million[11] - A fixed quarterly dividend of $0.25 per share was declared, payable in November 2025[11] Market Outlook and Fundamentals - Seaborne crude oil trade volumes are at their highest since 2020 and are expected to increase further in Q4-25[16] - Global oil demand growth is forecast at 1.1 million barrels per day in 2026, with non-OPEC+ supply growth forecast at 1.2 million barrels per day[31] - The orderbook is stable at 16% of the existing fleet size, and the average fleet age is at a 30+ year high of 13.2 years[31] Teekay Tankers' Value Proposition - The company's free cash flow break-even is approximately $11,300 per day[38] - Every $5,000 increase in spot rates above the FCF break-even is expected to increase annual FCF yield by 2.8% or generate $1.66 of annual FCF per share[38] - Teekay Corporation paid a one-time cash special dividend of $1.00 per common share, totaling $85.3 million in July 2025[43]