Q2 2025 Consolidated Results - The company's revenue decreased by 4.0% to $2.73 billion in Q2 2025, compared to $2.85 billion in Q2 2024[7, 22] - Adjusted operating income decreased by 4.7% to $312.9 million in Q2 2025, compared to $328.2 million in Q2 2024[7, 22] - Adjusted EPS increased by 2.1% to $3.41 in Q2 2025, compared to $3.34 in Q2 2024[7, 22] - Adjusted operating income margin remained consistent at 11.5% in both Q2 2025 and Q2 2024[7, 22] Segment Performance - Access segment revenue decreased by 10.7% to $1.26 billion, with an adjusted operating income margin of 14.8%[29, 39] - Vocational segment revenue increased by 15.0% to $970 million, with an adjusted operating income margin of 16.3%[30, 42] - Transport segment revenue decreased by 16.2% to $479 million, with an operating income margin of 3.7%[30, 45] 2025 Outlook - The company expects revenues of approximately $10.6 billion[35] - The company anticipates adjusted operating income of approximately $1.05 billion[35] - The company projects adjusted EPS of approximately $11.00[35] - The company forecasts free cash flow between $400 million and $500 million[35]

Financial Performance & Capital Plan - YTD June Capital Expenditures reached $2.9 billion, and the company is on track with its 2025 annual capital plan of $5.2 billion[17] - The 2025-2029 Capital Plan totals $26 billion, with 23% allocated to major capital projects[17] - The company forecasts a 5-Year Rate Base CAGR of 6.5%, growing from $39 billion in 2024 to $53 billion in 2029[17] - Q2 2025 EPS was $0.76, compared to $0.67 in Q2 2024, and YTD 2025 EPS was $1.76, compared to $1.60 YTD 2024[35] Strategic Initiatives & Growth Opportunities - TEP plans to convert 793 MW of coal-fired generation at the Springerville Generating Station to natural gas generation by 2030, supporting a coal-free generation mix by 2032[21] - An agreement was reached with a data center customer for ~300 MW of power demand ramping up in 2027, with potential for a total of 600 MW at the initial site and an additional 500-700 MW at a subsequent site[27] - MISO LRTP Tranche 2.1 represents a ~US$3.7-$4.2 billion investment opportunity for projects in Michigan, Minnesota, and Iowa[30] Dividend & Sustainability - The company provides annual dividend growth guidance of 4-6% through 2029[33] - Fortis has reduced scope 1 emissions by 34% to the end of 2024 relative to 2019 levels[89] - FortisBC will invest $690 million to help customers save 3.8 million gigajoules of gas and 115 GWh of electricity by the end of 2027[89]

© 2025 Cboe Exchange, Inc. All rights reserved. SECOND QUARTER 2025 EARNINGS PRESENTATION August 1, 2025 Agenda | Business Review | Craig Donohue | | --- | --- | | | Chief Executive Officer | | Financial Review | Jill Griebenow | | | Executive Vice President, Chief Financial Officer | | Questions & Answers | Craig Donohue | | | Jill Griebenow | | | Dave Howson | | | Executive Vice President, Global President | | | Chris Isaacson | | | Executive Vice President, Chief Operating Officer | | | Cathy Clay | | | ...

Financial Performance - Q2 2025 - Sales decreased by 6% to $1.058 billion compared to Q2 2024[7,8] - Volume decreased by 7%[7,9] - Adjusted EBIT increased by $4 million to $76 million compared to Q2 2024[7] - Adjusted EBIT margin increased by 80 bps to 7.1%[7,8] - Adjusted EPS increased by $.01 to $.30 compared to Q2 2024[7,8] - Cash flow decreased by $10 million to $84 million compared to Q2 2024[7,8] Financial Performance - YTD 2025 - Sales decreased by 7% to $2.080 billion compared to YTD 2024[15,16] - Adjusted EBIT increased by $7 million to $142 million compared to YTD 2024[15,16] - Adjusted EBIT margin increased by 70 bps to 6.8%[15] - Adjusted EPS increased by $.02 to $.54 compared to YTD 2024[15,17] Guidance - The company maintains its 2025 sales guidance of $4.0–$4.3 billion, a decrease of 2% to 9% versus 2024[7,18] - The company maintains its adjusted EPS guidance of $1.00–$1.20[7,19]

Financial Performance - Net sales for Q2 2025 were $4834 million, a 43% increase year-over-year[11] - Non-GAAP earnings per diluted share for Q2 2025 were $171[11] - Adjusted EBITDA for Q2 2025 was $755 million with a margin of 156%[11,18] - YTD 2025 net sales reached $9263 million, a 08% decrease compared to YTD 2024[11,12] - YTD 2025 non-GAAP earnings per diluted share were $329[11] - Adjusted EBITDA for YTD 2025 was $1445 million[11] Volume and Leverage - Sales volumes in Q2 2025 increased by 2% year-over-year, driven by growth in the Asia/Pacific segment[15] - Sales volumes in Q2 2025 increased by 4% compared to Q1 2025[15] - The company's leverage ratio as of June 30, 2025, was 26x[11,22] Additional Information - Total debt was $937 million, with cash and cash equivalents of $202 million, resulting in net debt of $735 million[22]

2Q25 Conference Call August 1, 2025 00 2Q25 – HIGHLIGHTS | | Business diversification and | Quarterly growth of 5% in | Solid cash and gross debt | | --- | --- | --- | --- | | | an assertive commercial | adjusted EBITDA in 2Q25, reaching | management resulted in | | | strategy generate resilience | | further deleveraging in the | | | and solid performance | R$ 2.6 billion | quarter | | | EBITDA growth in all segments | Adjusted EBITDA margin of 23.5% | Indicator reached 3.24x, down 9 | | | except mining due ...

Q2 2025 Performance - Sales reached $867 million, reflecting a 2% increase compared to Q2 2024 [9] - Adjusted EBITDA was $149 million, a 3.9% increase year-over-year [9] - Adjusted EPS increased by 5.3% to $0.80 [9] - Adjusted EBITDA margin was 17.2% [10] Segment Performance - Color, Additives & Inks sales were $539 million, a 1% decrease, but adjusted EBITDA margin expanded by 100 bps to 20.9% [20] - Specialty Engineered Materials sales increased by 7% to $330 million, but adjusted EBITDA margin decreased to 19% [23] Regional Growth - Organic revenue growth by region: US & Canada +1%, Europe, Middle East & Africa -1%, Asia +3%, Latin America +6% [25] Full Year 2025 Guidance - Adjusted EBITDA is projected to be between $545 million and $560 million, representing a 4% to 6% growth excluding foreign exchange impact [28] - Adjusted EPS is expected to be between $2.77 and $2.87 for the full year [28] - Free Cash Flow is expected to be $190 million to $210 million for FY 2025 [16] Productivity and Debt Reduction - $40 million of full year YoY productivity benefits more than offset inflation & investments in growth vectors [14] - $50 million debt reduction in Q2; expect $100 million to $200 million total debt reduction by year end [16]

Financial Performance - Q2 2025 - Orders increased by 8% and revenue increased by 5% compared to Q2 2024[19] - Adjusted EBITDA increased by 3%, but the margin decreased by 40 bps year-over-year[19] - Adjusted EPS decreased by 4% year-over-year, following a 22% increase in Q2 2024[19, 21] - Free cash flow is down year-over-year, but up 13% year-to-date[24] - The company has total available liquidity of $3.9 billion, including $1.3 billion in cash and cash equivalents[24] Segment Performance - Q2 2025 - Industrial Technologies and Services revenue was $1.4916 billion, up 1.7% year-over-year, with an adjusted EBITDA of $427.2 million and a margin of 28.6%[25] - Precision and Science Technologies revenue was $396.3 million, up 17% year-over-year, with an adjusted EBITDA of $116.8 million and a margin of 29.5%[33] M&A and Strategy - The company closed 11 transactions and acquired over $200 million in annualized inorganic revenue[17] - The company granted approximately $30 million in equity to approximately 6,400 new employees through the Ownership Works program in the last 18 months[13] Full Year 2025 Guidance - The company is raising its full-year guidance on revenue, adjusted EBITDA, and adjusted EPS[8] - Full year revenue is expected to grow by 4-6%, with M&A contributing approximately $375 million or approximately 5%[39] - Adjusted EBITDA is projected to be between $2.1 billion and $2.16 billion, representing a 4-7% year-over-year increase[39] - Adjusted EPS is expected to be between $3.34 and $3.46, representing a 2-5% year-over-year increase[39]

Financial Performance - Magna reported strong Q2 2025 financial performance, exceeding expectations [19, 51] - Adjusted EBIT increased by 1% year-over-year, with a margin of 55%, a 20 bps increase [20, 37] - Adjusted Diluted EPS increased by 7% year-over-year to $144 [20, 37] - Free Cash Flow increased by $178 million year-over-year to $301 million [20, 37] Updated Outlook - Magna increased its 2025 outlook, raising the low end of the Adjusted EBIT margin range to 52%-56% [20, 34, 51] - The company also increased its Adjusted Net Income Attributable to Magna forecast to $135 billion - $155 billion [20, 34, 51] - Total sales are projected to be $404 billion - $420 billion [34] Tariff Mitigation - Magna reduced its estimated 2025 annualized net tariff exposure to approximately $200 million, down from approximately $250 million in Q1 [20, 32, 51] - The company has settled with multiple OEMs for substantially all of its 2025 net tariff exposure with them [20, 32, 51] Sales Performance - Consolidated sales decreased by 3% to $10631 billion [39, 45] - Weighted Sales Growth over Market (GoM) was -1% (-1% excluding Complete Vehicles) [37, 39]

2Q 2025 financial results July 31, 2025 Prepared remarks These slides should be reviewed with the accompanying prepared remarks posted on our website. Forward-looking statements The information in this release and other statements by the company may contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act with respect to, among other items: projections and estimates of earnings, revenues, volumes, pricing, margins, cost reductions, expenses, taxes, liquidity, cap ...