Business Overview - Insteel Industries is the largest U S manufacturer of steel wire reinforcing products for concrete construction applications[5] - Nonresidential construction accounts for 85% of sales, while residential construction accounts for 15%[7] - Concrete product manufacturers make up 70% of sales, with distributors, rebar fabricators, and contractors accounting for the remaining 30%[8] Competitive Position and Growth Strategy - The company is the largest domestic producer of WWR and PC strand with a national market presence[20] - A growth strategy involves converting rebar users to ESM, which requires fewer tons of steel due to its higher yield strength (80,000 PSI for ESM versus 60,000 PSI for rebar)[23] - Strategic acquisitions, such as Ivy Steel & Wire for $503 million and American Spring Wire for $335 million, are a key part of the growth strategy[25] Financial Performance - The company was debt-free with $898 million of cash and no borrowings outstanding on its $1000 million revolving credit facility as of July 3, 2021[50] - Capital expenditures are expected to total up to $200 million in fiscal year 2021[47] - Public construction spending for May YTD 2021 was down 71% from the prior year and up 60% from the four-year prior average[56] - Private nonresidential construction for May YTD was down 95% from the prior year and down 40% from the four-year prior average[56] - Private residential construction for May YTD was up 238% from the prior year and up 330% from the four-year prior average[56]

Business Overview - Insteel Industries is the largest U S manufacturer of steel wire reinforcing products for concrete construction applications[5] - Nonresidential construction accounts for 85% of sales, while residential construction accounts for 15%[7] - Concrete product manufacturers represent 70% of sales, with distributors, rebar fabricators, and contractors making up the remaining 30%[8] Financial Performance - Net sales reached $5906 million in 2021[27] - EBITDA for 2021 was $1057 million, with an EBITDA margin of 179%[33, 35] - As of October 2, 2021, Insteel had $899 million in cash and no outstanding borrowings on its $1000 million revolving credit facility[48] Growth Strategy - Continued conversion of rebar users to Engineered Structural Mesh (ESM) represents a substantial growth opportunity[23] - The company has made strategic acquisitions, including Ivy Steel & Wire for $503 million and American Spring Wire for $335 million[25] - Capital expenditures are expected to total up to $250 million in fiscal year 2022[45] Market Outlook - Public construction spending for August YTD 2021 was down 40% from the prior year but up 65% from the four-year prior average[55] - Private nonresidential construction for May YTD was down 91% from the prior year and down 36% from the four-year prior average[55] - Private residential construction for May YTD was up 238% from the prior year and up 247% from the four-year prior average[55]

INDUSTRIES INC. Investor Presentation January 20, 2022 Quant Roll 2017 NE r B 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. When used in this presentation, the words "believes," "anticipates," "expects," "estimates," "appears," "plans," "intends," "may," "should," "could" and similar expressions are intended to identify forward-looking statements. Although we believe t ...

Business Overview - Insteel Industries is the largest U S manufacturer of steel wire reinforcing products for concrete construction applications[5] - Nonresidential construction accounts for 85% of sales, while residential construction accounts for 15%[7] - Concrete product manufacturers represent 70% of sales, with distributors, rebar fabricators, and contractors making up the remaining 30%[8] Financial Performance - Year-to-date net sales reached $6188 million in 2022[28] - In fiscal year 2022 (39 weeks), net earnings were $100705 thousand and EBITDA was $142169 thousand[37] - As of July 2, 2022, the company had $630 million in cash and no borrowings on its $1000 million revolving credit facility[47] Growth Strategy - Continued conversion of rebar users to Engineered Structural Mesh (ESM) represents a substantial growth opportunity[23] - Capital expenditures are expected to total up to $200 million in fiscal year 2022[45] Market Outlook - Architecture Billings Index (ABI) and Dodge Momentum Index (DMI) are leading indicators for nonresidential building construction activity[53] - Customer sentiment remains positive, and leading indicators for nonresidential construction end markets remain at expansionary levels[54]

Company Overview - Richtech Robotics designs, develops, and commercializes service robots for businesses in the service sector[3] - The company has installed over 400 robots globally and aims to reach 1,000+ locations by 2026[10, 19, 55] - Richtech is positioned as the world's first AI-driven total robotic solutions provider in hospitality & service sectors[10, 83] Market Opportunity - The serviceable addressable market is highly diversified at $230 billion[10, 83] - The projected service robotics market is expected to reach $17546 billion by 2030[14] - The service robotics market was $7191 billion in 2025 and $5787 billion in 2024[14] - North America holds the largest global share of the service robotics market at 35%[14] - Average hourly earnings in private service-providing industries rose by approximately 37% from March 2024 to March 2025[19] Financial Performance - The company reported revenues of $44 million for the trailing 4 quarters (ended 3/31/2025)[56] - Secured RaaS (Robot-as-a-Service) contracts amount to $65 million, contributing incrementally over lease terms[56] - The company has $318 million in cash & equivalents as of 3/31/2025[56]

Financial Performance - The company updated its FY26 reported EPS outlook to $1207-$1237 and maintained a comparable EPS outlook of $1260-$1290[15] - The company maintained FY26 targets for operating cash flow of $27 billion to $28 billion and free cash flow of $15 billion to $16 billion[15] - The company reported a low-single-digit net sales decline and a mid-single-digit operating income decline[15] - The company's operating margin contracted by 150 bps year-over-year to 391%[15] Beer Business - Beer Business shipments decreased by 33% and depletions decreased by 26%[19] - Beer Business net sales decreased by 2% to $22345 million, and operating income decreased by 5% to $8734 million[19] - The company achieved over $40 million of a net benefit through supply chain efficiency initiatives in Q1 FY26[18] Wine and Spirits Business - Wine and Spirits Business experienced a double-digit organic net sales decline and a triple-digit operating income decline[16] - Wine and Spirits Business operating margin contracted from 153% to (21%)[16] - Wine and Spirits Business organic net sales are expected to decline 17-20% and organic operating income to decline 97-100% in FY26[16] Capital Allocation - The company maintained its net leverage ratio at a target of approximately 30X[16, 18] - The company executed $381 million of share repurchases through June 2025[16] - Capital expenditures totaled $193 million, primarily focused on Beer brewing capacity additions[16]

Financial Performance - Greenbrier's net earnings attributable reached $60 million, or $1.86 per diluted share, with revenue of $843 million[5] - The company achieved an aggregate gross margin of 18%[5] - Greenbrier's EBITDA was $129 million, representing 15% of revenue[5] - Operating cash flow was nearly $140 million[5] Orders and Backlog - New railcar orders totaled 3,900 units, valued at over $500 million[5] - Railcar deliveries amounted to 5,600 units[5] - The new railcar backlog stands at 18,900 units, with an estimated value of $2.5 billion[5] Capital Allocation and Liquidity - Greenbrier renewed and extended $850 million of bank facilities into 2030[5] - The company repurchased 507 thousand shares for nearly $22 million[5] - Available liquidity is approximately $770 million[6] Leasing and Fleet Management - Lease fleet utilization remained strong at 98%[5] - The company has a lease fleet of approximately 16,800 railcars[6, 11] - Recurring revenue grew by 45%[6] Operational Efficiency - Closure of one manufacturing facility in the European joint venture is expected to yield annual savings of at least $10 million[5]

CNM-Au8 Therapeutic Potential - Clene is pioneering catalytic nanotherapeutics to treat neurodegenerative diseases like ALS, Parkinson's, and MS[13] - CNM-Au8 is a nanocrystal suspension administered orally, targeting energy metabolism and oxidative stress, and can penetrate the blood-brain barrier[27] - CNM-Au8 contains >100 trillion nanocrystals per 60 mL dose (at 30 mg)[24] - Over 800 participant-years of exposure to CNM-Au8 with predominantly mild-to-moderate TEAEs and no related SAEs across all clinical programs[36] ALS Clinical Trial Outcomes - In the HEALEY ALS Platform Trial, CNM-Au8 30 mg showed a 94% risk reduction in time to death or PAV during the double-blind period[41] - During the OLE to Month 12 of the HEALEY ALS Platform Trial, CNM-Au8 30 mg showed a 78% risk reduction in time to death or PAV[46] and a 62% risk reduction in time to death[48] - A 71% risk reduction in delayed time to clinical worsening was observed in two independent Phase 2 trials[50] - Participants with NfL decline at Week 24 in the HEALEY ALS Platform Trial showed a 91% risk reduction in time to death or PAV[92] MS Clinical Trial Outcomes - In MS patients on DMTs, CNM-Au8 demonstrated significantly improved vision as measured by Change in Low Contrast Letter Acuity (LCLA)[124] - CNM-Au8 demonstrated global neurological improvement in stable MS patients on DMTs[123] Financial Status - As of March 31, 2025, Clene Inc had $9.8 million in cash and equivalents on hand (unaudited)[178]

Pipeline and Platform - Werewolf Therapeutics' INDUKINE platform delivers potent payloads with improved therapeutic index [6] - The PREDATOR platform is validated and differentiated, focusing on clinical opportunities [8] - The company's pipeline includes WTX-124 (IL-2), WTX-330 (IL-12), WTX-712 (IL-21), WTX-518 (IL-18), WTX-921 (IL-10), and IFNα INDUKINE [7] - T cell engagers INDUCER molecules, first development candidate to be nominated in 2Q25 [16] Financial Status - As of March 31, 2025, Werewolf Therapeutics had $92.0 million in cash and cash equivalents [7] - The company's cash runway extends into 4Q26 [7] - Approximately 44.9M shares outstanding as of May 2, 2025 [196] Clinical Trial Results - WTX-124 - WTX-124 monotherapy induced rapid, durable regressions of target lesions in some patients [46] - In a Phase 1/1b study, WTX-124 was generally well-tolerated as a monotherapy in the outpatient setting [42] - WTX-124 in combination with pembrolizumab demonstrated durable responses in ICI-treated patients [58] - WTX-124 dosed at 18 mg IV Q2W has a ~1.5-fold higher Cmax than HD IL-2 [64] - Peak free IL-2 exposure after WTX-124 18 mg is ~146-fold lower than HD IL-2 [64] Clinical Trial Results - WTX-330 - WTX-330 delivered 22-fold greater IL-12 to patients compared to rhIL-12 therapy [124] - Peak free IL-12 exposure after 0.024 mg/kg WTX-330 is ~5-fold lower than rhIL-12 at its MTD [127] - One patient with a confirmed PR (RECIST 1.1) and an additional seven patients with stable target lesions (n=15) [101] - WTX-330 was Generally Well Tolerated as a Monotherapy in the Outpatient Setting [97] Market Opportunity - The total market for four tumor types in WTX-124 development strategy is ~$23B [77] - Market Potential in the US in Advanced/Metastatic Melanoma ~$4.1B Spanning 1L-3L [80] - A total of ~20 additional tumor types with US revenue of ~$27B [78]

Strategic Transformation & Growth - Gilead is making meaningful progress on strategic transformation with a strong 2023 execution, leading to a catalyst-rich 2024[5, 11, 28, 65] - The company's pipeline has grown by 88% since 2019, positioning it to deliver 10+ new transformative therapies by the end of 2030[18, 19] - Gilead's base business has returned to consistent growth, with an expected 7-8% year-over-year growth in 2023 driven by HIV and Oncology[21, 22] Oncology - Gilead is accelerating its oncology business, aiming for >$3 billion/year[7, 13, 30, 67] - Oncology revenue has grown significantly, reaching ~$3 billion in FY23, representing ~12% of total revenue compared to 2% in FY19[36] - Trodelvy programs reinforce pan-tumor potential, with >30 active or planned trials and >30,000 patients treated[40, 41] - In 1L mNSCLC, Trodelvy plus pembrolizumab demonstrated a strong 69% ORR in PD-L1 TPS>50% and 44% ORR in PD-L1 TPS<50% in the Phase 2 EVOKE-02 trial[48] - Yescarta is the 1 cell therapy in 2L+ LBCL with long-term, 5-year OS of 43% in 3L LBCL and delivered >6,000 cell therapies to patients in 2023[54] HIV - Gilead has a leading HIV portfolio poised for durable growth[9, 15, 32, 69] - Biktarvy is a global leader in HIV treatment, with >47% U S market share in Q3 2023 and projected U S and EU LOE in 2033[72, 73] - The company has an industry-leading HIV development portfolio with 10 clinical programs with lenacapavir[75, 76] - Gilead anticipates 5 potential new HIV product launches by 2030 in treatment & PrEP[17, 71, 78]