Financial Performance Highlights - The company's GAAP Earnings Per Share (EPS) increased from $0.48 in 2Q24 to $0.69 in 2Q25[10] - The company's Operating EPS increased from $0.46 in 2Q24 to $0.69 in 2Q25[10] - The company's Operating Return on Average Assets (ROAA) was 0.88% in 2Q25[10] - The company's Operating Return on Average Tangible Common Equity (ROATCE) was 11.5% in 2Q25[10] - The company's Tangible Book Value (TBV) per share increased from $21.66 in 2Q24 to $24.42 in 2Q25[10] Balance Sheet and Loan Portfolio - Total assets reached $5.5 billion[10] - Total loans amounted to $4.1 billion[39] - Total deposits reached $4.9 billion[39] - The loan-to-deposit ratio was 85%[10] - Non-Performing Assets (NPAs) to total assets ratio was 0.19%[10]

Financial Performance Highlights - Consolidated Adjusted EBITDA reached $1.121 billion, exceeding the high end of the Q2 outlook [7] - Consolidated Adjusted EBITDA grew by 19% with a margin of 21.3% [8] - Adjusted diluted EPS increased by 74% [8] Segment Performance - Ambulatory Adjusted EBITDA grew by 11%, with same-facility revenue growth of 7.7% and a 39.2% Adjusted EBITDA margin; 8 facilities were added in Q2 [8] - Hospitals Adjusted EBITDA grew by 25%, with same-hospital admissions growth of 1.6% and a 15.6% Adjusted EBITDA margin [8] Financial Outlook - The company increased its FY 2025 Consolidated Adjusted EBITDA outlook by $395 million, now expecting $4.40 to $4.54 billion [9] - Net operating revenues for 2025 are projected to be between $20.95 and $21.25 billion [10] - Free cash flow for 2025 is expected to be between $2.025 and $2.275 billion [12] USPI Performance - USPI's net revenue is projected to reach $5.075 billion in 2025, reflecting a CAGR of 15.3% [16] - USPI's Adjusted EBITDA is projected to reach $2.020 billion in 2025, reflecting a CAGR of 14.5% [17] - USPI has a consistent track record of approximately 40% Adjusted EBITDA margins [18] - USPI's same-facility system-wide revenue CAGR from 2015-2025 is 6.1% [20] Capital Allocation - Q2 2025 free cash flow was $743 million [31] - The company repurchased approximately 4.6 million shares in Q2 2025 for $747 million, and 7.2 million shares YTD for $1.1 billion [32] - The Board of Directors authorized a $1.5 billion increase to the share repurchase program [32] Balance Sheet - The company has $2.6 billion cash on hand as of June 30, 2025 [31] - The company's EBITDA leverage ratio is 2.45x (3.11x EBITDA-NCI) [31]

-1- Financial Results Second Quarter 2025 July 22, 2025 FORWARD LOOKING STATEMENTS This presentation contains "forward-looking statements" concerning the Corporation's future economic, operational and financial performance. The words or phrases "expect," "anticipate," "intend," "should," "would," "will," "plans," "forecast," "believe" and similar expressions are meant to identify "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the ...

Financial Performance Overview - Sales increased by 0.7% to $6,314.5 million compared to $6,271.5 million in 2Q 2024[7] - Gross profit increased by 1.8% to $3,118.3 million compared to $3,063.4 million in 2Q 2024[7] - Gross margin expanded by 60 bps to 49.4%[7] - Reported EPS decreased by 14.3% to $3.00, while adjusted EPS decreased by 8.6% to $3.38[7] - EBITDA decreased by 12.3% to $1,260.8 million, representing 20.0% of sales[7] - Adjusted EBITDA decreased by 8.2% to $1,319.8 million, representing 20.9% of sales[7] Segment Performance - Paint Stores Group (PSG) sales increased by 2.3% to $3,702.2 million[11] - Consumer Brands Group (CBG) sales decreased by 4.1% to $809.4 million[17] - Performance Coatings Group (PCG) sales decreased by 0.3% to $1,801.1 million[23] Guidance - Third Quarter 2025 sales are expected to be up or down low-single digit percentage[36] - Full Year 2025 sales are expected to be up or down low-single digit percentage[36]

July 22, 2025 Forward-Looking Statements Second Quarter 2025 Conference Call Kathy Warden Chair, Chief Executive Officer and President Ken Crews Corporate Vice President and Chief Financial Officer This presentation and the information we are incorporating by reference, and statements to be made on the earnings conference call, contain or may contain statements that constitute "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Words such as "will," "expe ...

Financial Performance - Net sales increased by 1% to $1.05 billion[9, 23] - GAAP operating margin was 2.8%[9] - Adjusted operating margin decreased by 70 BPS to 13.5%[9] - Operating cash flows increased by 28.1% to $167.6 million[9] - Adjusted diluted EPS decreased by 0.6% to $4.88[23] Strategic Initiatives and Outlook - The company completed organizational realignment work, expecting $22 million in annualized savings in 2026, with $8 million in 2H 2025[8, 16] - The company is investing $100 million of growth capex in 2025 to add capabilities and capacity[11] - The company repurchased $100 million of shares in Q2 at an average price of $279.35 per share[38] - Full-year 2025 adjusted diluted EPS outlook is raised from $17.20-$18.80 to $17.50-$19.50[41] Segment Results - Infrastructure sales increased by 0.4% to $765.5 million, while adjusted operating income decreased by 6.7% to $124.6 million[28] - Agriculture sales increased by 2.7% to $289.4 million, and adjusted operating income increased by 12.2% to $44.8 million[33]

Q2 2025 Earnings Call July 22, 2025 IQVIA Template (V2.1.0) 1 Legal This presentation should be viewed in conjunction with IQVIA's Q2 2025 earnings call Safe Harbor Statement for Forward-Looking Statements This presentation contains "forward-looking statements" within the meaning of the federal securities laws, including Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, including, without limitation, our third-quarter and full-year 202 ...

Financial Performance - KeyCorp's EPS reached $0.35, a 6% increase QoQ and a 40% increase YoY[6] - Revenue increased to $1.84 billion, up 4% QoQ and 21% YoY[6] - Net interest income (TE) was $1.15 billion, reflecting a 4.1% increase QoQ and a 27.9% increase YoY[6] - Noninterest income grew to $690 million, up 3.3% QoQ and 10% YoY[6] Balance Sheet Strength - Common Equity Tier 1 (CET1) ratio stood at 11.7%, up approximately 120 bps YoY[3] - Marked Common Equity Tier 1 reached 10%, up approximately 270 bps YoY[3] - Tangible book value per common share increased by 26.7% YoY to $12.83[6] Loan and Deposit Portfolio - Average loans increased by $1.4 billion QoQ[10] - Commercial loans grew by 2.7% QoQ, driven by C&I loans[10] - Average deposits decreased slightly by 0.7% QoQ, but client deposits increased by 2% YoY[13] Credit Quality - Net charge-offs (NCOs) to average loans were 39 bps, down 4 bps QoQ[3] - Nonperforming assets (NPAs) to loans plus OREO were 66 bps, down 1 bp QoQ[3] Outlook - KeyCorp projects ending loans to be up approximately 2% vs YE 2024[35] - Net interest income (TE) is expected to increase by 20-22%[35]

Q2 2025 Performance - Sales increased by 2% year-over-year, reaching $1,123 million[18, 27] - Adjusted Operating Income increased by 9% year-over-year, reaching $297 million[18, 30] - Adjusted EPS increased by 14% year-over-year[18, 31] - ROS expanded by 170 bps year-over-year to 264%[18, 30] Segment Performance - Flow sales remained flat year-over-year at $397 million, with segment income up 10% and ROS at 234%, a 210 bps increase[31, 33, 37] - Water Solutions sales decreased by 4% year-over-year to $298 million, with segment income down 4% and ROS flat at 235%[31, 41, 45] - Pool sales increased by 9% year-over-year to $427 million, with segment income up 14% and ROS at 357%, a 160 bps increase[31, 48, 52] Financial Position and Outlook - Free Cash Flow reached a new quarterly record of $596 million[20, 57] - The company repurchased $75 million of shares[20, 58] - Full year 2025 sales are expected to increase by approximately 1% to 2%, reaching $4,125 million to $4,165 million[61] - Full year 2025 Adjusted EPS is projected to be between $475 and $485, an increase of approximately 10% to 12%[61]

Financial Performance - Revenue for Q2 2025 was $603.3 million, a 14.2% increase compared to $528.1 million in Q2 2024 [13, 21] - Year-to-date revenue reached $1,161.9 million, an 11.8% increase from $1,039.1 million in 2024 [13, 21] - EBITDA for Q2 2025 was $130.5 million, a 16.2% increase compared to $112.3 million in Q2 2024 [21] - Year-to-date EBITDA reached $249.1 million, a 9.3% increase from $227.9 million in 2024 [21] - Net income for Q2 2025 was $90.3 million, a 2.2% increase compared to $88.4 million in Q2 2024 [21] - Net income per diluted share for Q2 2025 was $3.10, a 12.7% increase compared to $2.75 in Q2 2024 [21] Business Trends - Net new business awards for Q2 2025 were $620.5 million, a 12.6% increase compared to $551.0 million in Q2 2024 [13] - Ending backlog was $2,873.6 million, a 1.8% decrease compared to $2,924.9 million in Q2 2024 [13] Cash Flow - Free cash flow for Q2 2025 was $142.4 million, compared to $103.5 million in Q2 2024 [39, 41] - Free cash flow conversion was 109.2% for Q2 2025, compared to 92.2% in Q2 2024 [39, 41] Guidance - Full year 2025 revenue guidance is $2,420.0 million - $2,520.0 million, representing a 14.7% - 19.5% growth rate [28, 43] - Full year 2025 EBITDA guidance is $515.0 million - $545.0 million, representing a 7.3% - 13.5% growth rate [28, 43]