Financial Performance - Net sales were $103.9 million, a decrease of 8.5% year-over-year[11, 16] - Adjusted EBITDA increased by 6.9% to $12.4 million, with a margin of 11.9%, up 170 bps year-over-year[11, 16] - Adjusted gross margin improved to 18.8%, a 350 bps increase compared to Q1 2025[11] - Adjusted operating income increased significantly by 207.7% to $4.0 million[11, 16] - Free cash flow was $9.1 million, reflecting a $20.9 million improvement over the past two years[11] Business Segments - Power Solutions net sales increased by 4.6% to $44.9 million, with adjusted EBITDA up 39.1% to $8.9 million[27] - Mobile Solutions net sales decreased by 16.4% to $59.1 million, with adjusted EBITDA down to $6.7 million[31] Strategic Initiatives - New business wins totaled $11.3 million, representing 3.9% of net sales[11] - The company is actively pursuing strategic M&A opportunities to scale and accelerate growth[9, 49] - The company is initiating discussions to refinance preferred equity to create a new capital structure for sustained M&A and common equity value accretion[9] Outlook and Guidance - The company maintains its guidance for adjusted EBITDA ($53 - $63 million), free cash flow ($14 - $16 million), and new business wins ($60 - $70 million) on slightly lower sales ($420 - $440 million)[52]

Company Overview & Strategy - The company is a leading provider of Data Center & Edge Computing solutions[4] - The company aims to achieve EPS of $3+ as revenues return to $150-160 million[14] - The company plans to achieve double-digit annual growth rates starting from 2026[14] - The company focuses on Edge Systems, Smart NICs, and FPGAs product lines[14] Financial Performance & Position - Q3 2025 revenues were $15.6 million, with a gross profit of $5.0 million (31.8% of revenues) and a net loss of $2.1 million (13.3% of revenues)[29] - Q1-Q3 2025 revenues totaled $45.0 million, with a gross profit of $14.1 million (31.3% of revenues) and a net loss of $6.1 million (13.7% of revenues)[30] - The company has cash & cash equivalents of $75.8 million and no debt[6, 31] - The company's working capital is $93.0 million, and shareholders' equity is $119.6 million[5, 31] Market Segmentation - North America accounts for 75% of the company's last twelve-month revenues[12, 13] - EMEA accounts for 17% of the company's last twelve-month revenues[12, 13] - APAC accounts for 8% of the company's last twelve-month revenues[12, 13]

™ Third Quarter Earnings Review October 30, 2025 Disclosures Forward-Looking Statements This communication contains forward-looking statements within the meaning of the U.S. Private Securities Litigation Reform Act of 1995, including, among others, statements regarding our goals, plans and projections with respect to our operations, financial position and business strategy, including those related to our acquisition of Bridge IT, Inc. ("Brigit") on January 31, 2025. Such forward-looking statements generally ...

Financial Performance - Altria's adjusted diluted EPS increased by 3.6% from $1.40 in Q3 2024 to $1.45 in Q3 2025[8] - For the first nine months of 2025, Altria returned nearly $6 billion to shareholders, including $5.2 billion in dividends and $712 million in share repurchases[98] - Altria increased its quarterly dividend by 3.9% to $1.06 per share[19] - The company expanded its existing share repurchase program from $1 billion to $2 billion[19] - The company is raising the lower-end of its full-year 2025 guidance range and now expects to deliver adjusted diluted EPS in a range of $5.37 to $5.45, representing a growth rate of 3.5% to 5.0% from 2024[95] Oral Tobacco Category - The oral tobacco industry volume increased by 14.5% for the six months ended September 30, 2025[22] - Oral nicotine pouches retail share of the oral tobacco category increased by 11.1 percentage points from Q3 2024 to Q3 2025, reaching 55.7%[22] - on! reported shipment volume increased by 0.7% in Q3 2025, with 42.2 million cans shipped[25] - For the nine months ended September 30, 2025, on! reported shipment volume increased by 14.8% to 133.6 million cans[25] - on!'s share of the oral tobacco category increased by 0.8 percentage points to 8.7% for the nine months ended September 30, 2025[28] Regulatory and Enforcement - Horizon submitted a combined PMTA & MRTPA to the FDA[32] - The FDA launched a pilot program to streamline PMTA reviews for oral nicotine pouches, and applications for on! PLUS are included in the program[47, 49]

Financial Performance & Guidance - 2025 YTD EPS was $4.47, driven by higher revenue on increased rate base and rate case outcomes, up 9.0% vs 2024 on a weather-normalized basis[9] - 2025 EPS guidance is affirmed at $5.70 to $5.75, including $0.10 per share of incremental interest income from the amended HOS seller note[9] - 2026 EPS guidance is initiated at $6.02 to $6.12, assuming the HOS note is repaid around year-end 2025, reflecting consistent future earnings growth within a 7-9% range[12] - The company anticipates 8% EPS growth in 2026 (at midpoint) vs 2025 on a weather-normalized basis[28] Capital Investments & Funding - The company entered into equity forward agreements for approximately $1 billion, assuming settlement mid-year 2026 to fully satisfy 2026 equity needs[9, 35] - The company issued $900 million in senior notes in August 2025[9, 72] - The company plans for $2.5 billion of equity issuances in 2026-2030, including approximately $1 billion in 2026 covered by equity forward agreements[37] - The company's 5-year capital plan increased by $2 billion, with a total investment of $19 billion to $20 billion from 2026-2030[40, 41] - The company's 10-year capital plan increased by $6 billion, with a total investment of $42 billion to $43 billion from 2026-2035[40, 41] Acquisitions & Customer Growth - The company has acquisitions under agreement representing approximately 107,000 customer connections, totaling over $600 million[9, 52, 84] - The company closed acquisitions YTD as of October 29, 2025, representing approximately 17,500 customer connections[53, 83]

Financial Performance - Q3 2025 revenue reached $518 million, a 10.7% increase year-over-year, driven by 6.0% organic daily sales growth and acquisitions[23] - Organic daily sales grew 3.1% sequentially over Q2 2025[14, 23] - Adjusted EBITDA was $48.5 million, representing 9.4% of sales, compared to 9.7% in Q2 2025 due to sales mix shift, initiative investments, and increased employee-related costs[14, 23] - Cash flow from operations was $38 million in Q3 2025, following $33 million in Q2 2025[16] Segment Performance - Lawson Products' Q3 2025 revenue was $121.5 million with adjusted EBITDA of $14.0 million, or 11.5% of revenue[25, 27, 28] - Canada Branch Division's Q3 2025 revenue was $60.0 million, up from $39.1 million in Q3 2024, with adjusted EBITDA of $5.8 million, or 9.6% of revenue[30, 32, 33] - Gexpro Services' Q3 2025 revenue was $130.5 million, with adjusted EBITDA of $17.8 million, or 13.6% of revenue[35, 37, 38] - TestEquity's Q3 2025 revenue was $206.5 million, with adjusted EBITDA of $12.4 million, or 6.0% of revenue[40, 42, 43] Capital Allocation - Approximately $20 million of shares were repurchased year-to-date[16] - Total liquidity at the end of Q3 2025 was approximately $335 million[16, 44]

Q3 2025 Financial Highlights - Gold revenue reached $253 million, a 27% increase from Q2 2025[16] - Adjusted EBITDA was $131 million[12, 16] - Adjusted earnings per share reached $036[16] - Cash balance increased to $418 million, up from $310 million at the end of Q2 2025[12, 16] Operational Performance - Total gold production was 73,236 ounces[12, 21] - Segovia operations produced 65,549 ounces of gold[21] - Segovia's total AISC margin was $1215 million, up 39% from Q2 2025[21] - Contract Mining Partners (CMP) AISC sales margin at Segovia was 44%[21] Project Updates - Marmato Bulk Mining Zone construction is underway, with first gold pour expected in H2 2026[12, 31] - Soto Norte Pre-Feasibility Study (PFS) completed, outlining average annual production of 263,000 ounces of gold (100% basis) during years 2-10, and 203,000 ounces over the life of mine, at an AISC of $534/oz[12, 43, 64] - Toroparu Preliminary Economic Assessment (PEA) shows potential for average annual gold production of 235,000 ounces over a 213-year mine life, with an AISC of $1,289/oz[12, 58]

Financial Performance - Ameriprise's GAAP net revenues increased by 9% to $4791 million for the quarter ended September 30, 2025, compared to $4397 million in the same quarter of 2024[5] - Adjusted operating net revenues increased by 6% to $46 billion driven by asset growth[10] - Adjusted operating earnings per diluted share increased by 12% to $992 excluding unlocking impacts[10] - The company's return on equity, excluding AOCI, was 528% for the quarter ended September 30, 2025[5] Assets and Wealth Management - Total assets under management, administration, and advisement increased by 8% to a record high of $17 trillion[10] - Advice & Wealth Management revenue increased 9% to $30 billion and earnings increased 7% to $881 million with a margin of 295%[10] - Asset Management earnings increased 6% to $260 million with a 42% margin[10] - Wealth Management's total client assets increased by 14% from $569 billion to $650 billion between Q3 2024 and Q3 2025[16] Capital Management - The company had excess capital of $22 billion and holding company available liquidity of $25 billion[10] - The company increased capital return to shareholders to 87% exceeding the target payout ratio[10]

Cautionary Statement Regarding Forward-looking Statements Q3 2025 Earnings Call Statements in this presentation and in our other filings with the SEC, as well as other statements we may make from time to time, other than statements of historical fact, constitute "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. In some cases, you can identify forward-looking statements by words such as "may," "will," "should," "expects," "intends," "plans," "anticipates ...

Q3 2025 Performance Highlights - Net sales reached $2 billion, a decrease of 4% year-over-year[31] - Gross profit remained flat year-over-year at $434 million[31] - Cloud gross profit increased by 7% year-over-year to $130 million[31] - Insight Core Services gross profit decreased by 3% year-over-year to $79 million[31] - Adjusted earnings from operations increased by 5% year-over-year to $126 million[31] - Adjusted diluted earnings per share increased by 11% year-over-year to $243[31] YTD Q3 2025 Performance - Net sales totaled $62 billion, a decrease of 6% year-over-year[32] - Gross profit decreased by 3% year-over-year to $13 billion[32] - Adjusted diluted earnings per share decreased by 1% year-over-year to $693[32] Full Year 2025 Outlook - Gross margin is expected to be approximately 21%[33] - Adjusted diluted EPS is projected to be between $960 and $990[33]