Financial Performance - IT Services revenue reached $2,587.4 million in Q1'26 [26] - IT Services revenue decreased by 0.3% QoQ and 1.5% YoY in reported terms [26] - Non-GAAP IT Services revenue decreased by 2.0% QoQ and 2.3% YoY in constant currency terms [26] - Net income for the quarter was ₹33.3 billion, a decrease of 6.7% QoQ and an increase of 10.9% YoY [26] - EPS was ₹3.2 ($0.041), a decrease of 6.7% QoQ and an increase of 10.8% YoY [26] - IT Services Operating Margins was at 17.3%, down by 0.2% QoQ and expansion of 0.8% YoY [26] Bookings and Deals - Total bookings were $4,971 million, up by 24.1% QoQ and 50.7% YoY in constant currency [28] - Large deal bookings were $2,666 million, an increase of 49.7% QoQ and 130.8% YoY in constant currency [28] Other Key Metrics - The company has 1,282 active global clients [10] - Top customer concentration is at 4.7% of revenue [12]

Q2 2025 Performance - Adjusted EBITDA for Q2 2025 was $27.1 million[3], compared to $31.7 million in Q2 2024[3, 4], a decrease of 14.5% - The Transportation segment's Adjusted EBITDA decreased from $11.2 million in Q2 2024 to $8.5 million in Q2 2025[3, 4], a decrease of 24.1% - The Specialty Products segment's Adjusted EBITDA decreased from $5.7 million in Q2 2024 to $4.4 million in Q2 2025[3, 4], a decrease of 22.8% - The Sulfur Services segment's Adjusted EBITDA decreased from $10.6 million in Q2 2024 to $9.7 million in Q2 2025[3, 4], a decrease of 8.5% - The Terminalling & Storage segment's Adjusted EBITDA increased from $8.0 million in Q2 2024 to $8.4 million in Q2 2025[3, 4], an increase of 5% Full-Year 2025 Guidance - The company projects a full-year 2025 Adjusted EBITDA of $109.1 million[5] - Total segment adjusted EBITDA is projected to be $123.8 million[5] - Maintenance capital expenditures are estimated at $20.5 million, and plant turnaround costs at $5.4 million[5] - Total distributable cash flow is projected to be $27.8 million[5] - Total adjusted free cash flow is projected to be $18.8 million[5]

Financial Performance - Fifth Third Bancorp's adjusted PPNR achieved its highest growth rate in 2 years[8] - The adjusted efficiency ratio improved by 130 bps[8] to 55.5%[9, 21] - Adjusted EPS was $0.90[9, 175] - Return on average tangible common equity was 18%[9] - Net interest income increased to $1.5 billion[13] Loan and Deposit Trends - Average consumer loans increased by 7% compared to 2Q24[10] - Average commercial loans increased by 4% compared to 2Q24[10] - Consumer household growth was 2% compared to 2Q24, with 6% growth in the southeast[10] - Non-interest bearing deposits represent 25.3% of total deposits[35] Credit Quality - Non-performing assets decreased by 11% sequentially[8] - Commercial non-performing assets declined by 18%[8] - Net charge-off ratio was 0.45%[37] Outlook - Average loans & leases are expected to increase by approximately 5% for FY2025 compared to FY2024[54] - Net interest income is projected to increase by 5.5% - 6.5% for FY2025 compared to FY2024[54]

Financial Performance - Abbott's worldwide sales reached $11.1 billion, reflecting a 7.5% increase[3] - Organic sales growth, excluding foreign exchange and the discontinued ZonePerfect product line, showed a growth between 7.5% to 8.0%[3, 6] - Adjusted diluted EPS was $1.26 for the quarter[4] - Full-year 2025 guidance for adjusted diluted EPS is projected to be between $5.10 and $5.20[5] Business Unit Performance - Medical Devices sales amounted to $5.4 billion[4] - Diagnostics sales reached $2.2 billion[4] - Established Pharmaceuticals sales were $1.4 billion[4] Strategic Highlights - The company is expanding its structural heart portfolio[4] - The company is pioneering leadless cardiac pacing[5] - The company is advancing heart rhythm management[7] - FDA approved Abbott's Tendyne™ transcatheter mitral valve replacement (TMVR) system[11] - The AVEIR™ Conduction System Pacing clinical feasibility study is evaluating a leadless pacemaker delivering conduction pacing[12]

Financial Performance - Reported PPNR was $370.1 million[4] - Net income applicable to common shareholders was $251.7 million[4] - Diluted EPS reached $1.52[4] - ROAA stood at 1.29%[4, 5] - ROATCE was 17.96%[4, 5] Balance Sheet Highlights - Loans increased by $0.6 billion, a 1.2% LQ increase[5] - Excluding loans moved to held for sale, loan growth would have been $0.9 billion, or 1.6%[5, 14] - Total deposits grew by $0.7 billion, representing a 1.1% LQ increase[5] - TBVPS grew 3.4% to $35.13 LQ[5] - Total loans as a % of earning assets is 73%[83] Key Ratios - The loan-to-deposit ratio was 80.9%[5, 7] - The efficiency ratio improved to 45.4%, down 0.4% LQ[5] - CET1 was 11.33%[5, 7] - TCE was 7.46%[5, 7] Loan Portfolio - Total loans reached $53.672 billion[7] - Commercial loans totaled $42.652 billion[7] - Consumer loans amounted to $11.020 billion[7] - C&I loans increased by $420 million LQ, or 3.0%, reaching $14.232 billion[11] - CRE decreased by $44 million LQ, or -0.2%, reaching $21.111 billion[11] Deposit Portfolio - Total deposits reached $66.314 billion[7] - Transactional deposits totaled $19.164 billion[7] - Healthcare Financial Services deposits were $10.180 billion[7] - interSYNC deposits were $8.719 billion[16] - Ametros accounts were $1.115 billion[16] Net Interest Income and Margin - Net interest income totaled $621.2 million, up $9.0 million or 1.5% LQ[21, 26] - Net interest margin was 3.44%, down 4 bps LQ[5, 21] Commercial Real Estate Portfolio - The commercial real estate portfolio totaled $18.8 billion[57, 61] - Classified loans were 3.9%[57]

Financial Performance Highlights - Net interest income increased by $174 million QoQ, supported by continued LHI growth and further reduction in funding costs[35] - Net interest margin expanded by 16 bps QoQ, and 34 bps YoY[35] - Adjusted non-interest expense increased $09 million YoY to $1889 million, reflecting continued repositioning of the expense base in support of defined growth objectives[35] - The company sold $2823 million of available for sale securities with a book yield of 31% in the quarter for a pre-tax loss of $19 million[28] Balance Sheet and Capital Position - Total assets reached $31944 billion, a 7% increase YoY[9] - Total deposits reached $26064 billion[9] - Tangible book value per share increased by $217 or 3% QoQ to $7014 as a result of income generated, share repurchase activity and AOCI accretion[57] - The company repurchased 318 thousand shares in Q2, 07% of year end 2024 shares outstanding, for a total of $21 million at a weighted average price of approximately 96% of prior month tangible book value per share[57] Asset Quality - Total ACL increased $20 million QoQ to $3343 million[44] - Criticized LHI declined $2222 million or 26% YoY, with the percentage of total LHI declining 129 bps to 266%[45] - Special mention LHI declined $1443 million or 30% linked quarter[45] Strategic Performance and Guidance - Full year 2024 adjusted total revenue was $1119 million[58] - The company expects mid to high single-digit percent growth for adjusted non-interest expense[58] - The company expects provisions / average LHI, excl mortgage finance LHI to be 30 bps - 35 bps[58] - The company expects CET1 Ratio to be greater than 11%[58]

Financial Performance - Net interest income increased by 1% QoQ to $459561 thousand[7] and 6% YoY[7] - Non-interest revenue increased significantly by 15% QoQ and 204% YoY to $134135 thousand[7] - Total revenue grew by 4% QoQ and 94% YoY reaching $593696 thousand[7] - Adjusted diluted EPS increased by 14% QoQ and 28% YoY to $148[7] - Adjusted revenue is expected to be between $495 million and $515 million for 2025[38] Balance Sheet - Loans increased by 2% QoQ to $43537 million[9] and 1% YoY[9] - Deposits decreased by 2% QoQ to $49925 million[9] and 1% YoY[9] - Core deposits decreased by 2% QoQ but increased by 1% YoY, reaching $45208 million[9] - Non-interest bearing deposits remained relatively stable at $11658 million[9] Credit Quality & Capital - The net charge-off ratio improved to 017%[9] - The non-performing loan ratio remained stable at 059%[9] - The CET1 ratio increased to 1091%[9]

Financial Performance - Elevance Health's operating revenue for 2Q 2025 grew by 143% to $494 billion [7, 9] - The medical loss ratio was 889% [9] - Adjusted operating expense ratio improved by 140 bps to 100% [9] - Operating cash flow was $21 billion [9] - Adjusted diluted earnings per share (EPS) decreased by 142% to $884 [7] Segment Results - Health Benefits operating revenue increased by 119% to $416 billion [11] - Health Benefits adjusted operating margin decreased by 200 bps to 38% [12] - Carelon revenue increased by 358% to $181 billion [14] - CarelonRx revenue increased by 213% to $1064 billion [33] - Carelon Services revenue increased by 637% to $7441 billion [33] Strategic Focus - Elevance Health is focused on simplifying healthcare, affordability, and accessibility for consumers [3, 5] - The company aims to deepen clinical and business partnerships with care providers [4, 5] - Elevance Health is targeting at least 12% average annual growth in Adjusted Diluted Earnings Per Share [19, 20]

Q2 2025 Financial Performance - Novartis delivered double-digit sales growth and core margin expansion in Q2 2025 [134] - Q2 sales reached USD 141 billion, an increase of 11% in constant currencies (cc) compared to Q2 2024 [14] - Core operating income for Q2 2025 was USD 59 billion, a 21% increase in constant currencies (cc) compared to Q2 2024 [14] - Core margin improved to 422%, a 340 basis points increase [14] - Free cash flow for H1 2025 increased by 46% to USD 97 billion [104] FY 2025 Guidance and Capital Allocation - FY 2025 core operating income guidance upgraded to low-teens growth from low double-digit [15] - A new share buyback program of up to USD 10 billion was initiated, to be completed by the end of 2027 [108] - The company assumes Entresto US generic entry in mid-2025 for forecasting purposes [112] Key Products Performance - Kisqali grew by 64% cc in Q2, achieving TRx leadership in mBC [23] - Kesimpta grew by 33% cc in Q2, driven by strong demand growth [31] - Pluvicto grew by 30% cc in Q2, with promising uptake since pre-taxane indication approval in the US [36] - Leqvio grew by 61% cc in Q2, on track for blockbuster status in 2025 [45] - Scemblix grew by 79% cc in Q2, with strong momentum in early lines and global leadership in 3L+ CML [52]

July 17, 2025 U.S. Bancorp 2Q25 Earnings Conference Call U.S. Bank | Confidential 1 Forward-looking Statements and Additional Information The following information appears in accordance with the Private Securities Litigation Reform Act of 1995: This presentation contains forward-looking statements about U.S. Bancorp. Statements that are not historical or current facts, including statements about beliefs and expectations, are forward-looking statements and are based on the information available to, and assum ...