Deal Overview - Netflix will acquire Warner Bros for $27.75 per share, consisting of $23.25 in cash and $4.50 in Netflix stock per WBD share[25] - The total equity value of the deal is approximately $72 billion, with an enterprise value of $82.7 billion including Warner Bros' net debt of $10.7 billion[26] - The deal is expected to close in 12-18 months, subject to Warner Bros Discovery shareholder and regulatory approvals[25] Financial Highlights & Funding - The acquisition will be funded through $10.3 billion cash on hand, $50 billion in new debt financing, and $11.7 billion in equity consideration[28] - Netflix anticipates at least $2-3 billion of run-rate cost savings by year three and expects the transaction to be accretive to GAAP EPS by the second full year[32] - Warner Bros CY26E EBITDA is projected to be $5.8 billion, including $2.5 billion in run-rate synergies[28] Strategic Rationale - The acquisition combines Netflix's streaming service with Warner Bros' film and TV library and franchises[8, 15] - Netflix expects to maintain Warner Bros' current businesses, including theatrical releases and HBO Max & HBO operations[13, 14] - Netflix anticipates attracting and retaining more subscribers, driving more engagement, and generating incremental revenue and operating income[24]

Strategy and Targets - Swiss Re aims for a Group net income of USD 4.5 billion in 2026[4] - Swiss Re plans to initiate a sustainable annual share buyback of USD 0.5 billion starting in 2026[4] - The company is on track to reduce its operating cost run-rate by approximately USD 300 million by 2027[4, 13, 100] Business Unit Performance and Targets - L&H Reinsurance has increased its net income target to USD 1.7 billion for 2026[4, 95] - Corporate Solutions has maintained an average quarterly combined ratio of 90.6% since 2021[77] - P&C Reinsurance has increased loss assumptions by +10% since 2022[80] Data, Tech & AI - Swiss Re has a data platform with approximately 11,500 users across the Group[49] - The company's data corpus includes 8 million submissions, 24 million contracts, 44 million claims, and 17 million accounting documents[51] Capital Management - The Group SST ratio was 268% as of October 1, 2025[9] - Swiss Re expects to generate a dividend per share growth of ≥7% for the FY 2024-2026 period[74, 111]

Mines Outlook - In 2026, the first full year will include Somincor and Zinkgruvan operations[6] - Higher grades are expected in open pits[6] - Increased milled volume is anticipated at Aitik, Garpenberg, the Boliden Area, and Tara mines[6] - Potential cost increases of EUR 20-30 million are expected annually at Kevitsa[6] - Milled volume is expected to be stable at approximately 4.5 Mtonnes in coming years for Somincor[11] - Milled volume is expected to be stable at approximately 1.5 Mtonnes in coming years for Zinkgruvan[14] Smelters Outlook - Increased zinc and precious metal production is expected in Odda[6] - The Odda expansion is expected to increase annual capacity by 150 ktonnes of zinc and 45 ktonnes of leach product, improving annual EBITDA by approximately EUR 150 million at full production[18] - The ramp-up of the new tankhouse in Rönnskär is planned for H2 2026, with an annual copper cathode capacity of 230 ktonnes and an expected annual EBITDA increase of approximately SEK 1.2 billion when completed[19, 20] - Planned maintenance shutdowns at smelters are estimated to impact operating profit by SEK -450 million for the full year 2026[6, 21] Capital Expenditure - Group capital expenditure (capex) is projected to be SEK 15 billion, including mine sustaining capex of SEK 6.5 billion[6]

Financial Highlights - Q3FY26 total revenue reached $249 million[7] - Q3FY26 saw a YoY revenue growth of 25%[7] - Q3FY26 GTV was $22 billion, representing a YoY growth of 22%[7] - The company achieved a Q3FY26 non-GAAP operating margin of 8.6%[7] - Q3FY26 non-GAAP platform gross margin stood at 80.2%[7] - The net dollar retention rate for Q3FY26 exceeded 110%[7] Market Opportunity - The company addresses approximately $650 billion of the trades industry spend[20] - The total addressable market (TAM) is estimated to be over $1.5 trillion[21] - Potential revenue with full platform deployment is estimated at ~$13 billion[24] Customer Base - The company has approximately 9,500 active customers[41] - Over 1,000 customers generate >$100K in annualized billings, accounting for >50% of total annualized billings[41]

Financial Performance - Rubrik's Subscription ARR reached $1347 million, demonstrating a 34% year-over-year growth[11] - Cloud ARR within the Subscription ARR reached $1175 million, showing a 53% year-over-year growth[43] - The company maintains a high Average Subscription Dollar-Based Net Retention Rate (NRR) of over 120%[33] - Rubrik's Non-GAAP Gross Margin stands at 83%[33] - The company anticipates revenue growth on a reported basis will lag Subscription ARR growth by a few percentage points in FY27, primarily due to headwinds from material rights[82] Customer Growth - The number of customers with over $100,000 in Subscription ARR has increased to 2638[33] Product and Strategy - Rubrik is focusing on Cyber Resilience and AI transformation with its platform[8] - The company is emphasizing a Code to Cloud Cyber Resilience Platform approach to eliminate multi-cloud complexity[17] - Rubrik is expanding its offerings in Identity Resilience to secure identity infrastructure[18] Future Outlook - The company projects Subscription ARR for FY2026 to be between $1439 million and $1443 million[79] - Rubrik expects a total contribution of approximately $68 million in non-recurring revenue related to material rights in FY26[82]

INVESTOR PRESENTATION December 4, 2025 1 Safe harbor statement This presentation is provided for informational purposes only and should not be construed as an oer, commitment, promise or obligation on behalf of Stitch Fix, Inc. ("Stitch Fix" or the "Company") to sell securities or deliver any products, services, functionalities or other features. This presentation contains forward-looking statements within the meaning of the federal securities laws. All statements other than statements of historical fact co ...

Q3 FY26 Performance - Total revenue reached $818 million, reflecting an 8% year-over-year growth[14] - Billings amounted to $829 million, demonstrating a 10% year-over-year increase[14] - The non-GAAP operating margin was 314%, resulting in $263 million[14] - Free cash flow represented 32% of the free cash flow margin[14] Financial Guidance - Q4 FY26 total revenue is projected to be between $825 million and $829 million, indicating a 7% year-over-year change[73] - Q4 FY26 billings are expected to range from $992 million to $1002 billion, reflecting an 8% year-over-year growth[73] - FY26 total revenue is forecasted to be between $3208 billion and $3212 billion, representing an 8% year-over-year increase[75] - FY26 billings are projected to be between $3379 billion and $3389 billion, indicating a 9% year-over-year growth[75] International Growth - International revenue grew by 14% year-over-year in Q3 FY26[41] - International revenue accounted for 30% of the total revenue in Q3 FY26[41]

Disclaimer and Statement Regarding Use of Non-GAAP Measures This presentation contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. These statements may relate to, but are not limited to, expectations of future operating results or financial performance, market size and growth, industry developments and trends, the calculation of certain of our financial and operating metrics, capital expenditures, future p ...

Financial Highlights - Q3 2026 consolidated revenues reached $251 million, a 2% decrease year-over-year but a 6% increase sequentially compared to Q2 2026[5] - Q3 2026 earnings per diluted share increased by 9% year-over-year to $2.17[5] - Q3 2026 EBITDA was $40.3 million, representing 16% of revenue[5] - The quarterly dividend increased by 33% to $0.50 per common share[5] Backlog and Projects - The project backlog reached a record of approximately $3.0 billion as of October 31, 2025[5] - The current backlog represents approximately 6GW in new energy builds[5] - Recent additions to the backlog include a 1,350 MW combined cycle power plant and an 860 MW natural gas-fired power plant, both in Texas[5] - Natural Gas projects account for 79% of the backlog, Renewable projects 16%, and Industrial projects 5%[20] Market Drivers and Growth - Electricity demand is projected to increase by 25% by 2030 and 78% by 2050[21, 40] - Data center power demand is projected to double to 945 TWh by 2030[14] - Electricity demand from EVs is projected to reach 780 TWh in 2030, increasing from 180 TWh in 2024[16] Balance Sheet and Capital Allocation - Cash, cash equivalents, and investments totaled $727 million as of October 31, 2025[28] - Net liquidity was $377 million as of October 31, 2025[28] - $109.6 million has been returned to shareholders through share repurchases since November 2021[33]

1 Forward -looking statements This presentation contains forward -looking statements within the meaning of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995 . Such statements involve risks, uncertainties, and assumptions . If the risks or uncertainties ever materialize or the assumptions prove incorrect, the results of Hewlett Packard Enterprise Company and its consolidated subsidiaries ("Hewlett Packard Enterprise") may differ materially from those expressed or implied by s ...