Company Overview & Strategy - BorgWarner has a vision for a clean, energy-efficient world and delivers innovative and sustainable mobility solutions[9, 10] - The company aims to outgrow end markets, build on its product portfolio, and drive enhanced financial performance[21] - BorgWarner leverages its core competencies through organic and inorganic investments[21] Financial Performance & Sustainability - In 2023, approximately 87% of BorgWarner's revenue came from EV and emissions-reducing hybrid and combustion products[24] - eProduct sales reached approximately $2 billion in 2023[25] - The company achieved a 32% reduction in scope 1 and 2 emissions since 2021 and targets a 25% reduction in Scope 3 emissions by 2030 versus a 2021 baseline[26] - Since 2020, BorgWarner has returned approximately $34 billion to shareholders, including buybacks exceeding $1 billion and shareholder dividends of approximately $696 million, and the market cap of PHINIA at spin-off was approximately $17 billion[49] Product Portfolio & Market Position - BorgWarner holds a 1 or 2 market share in foundational products and is growing share in several eProducts[19] - The estimated BorgWarner content opportunity per light vehicle increases from $548 for combustion engines to $2,569 for BEVs in 2027[28] - The company's foundational sales are approximately $12 billion in 2024[30]

Financial Performance - The company generated $328 million of Adjusted EBITDAX, exceeding guidance[3] - Shareholder returns totaled $135 million, representing 103% of 1Q25 Free Cash Flow[3, 4] - Net leverage stands at 0.7x 2025E Net Leverage, reflecting a strengthened financial position[3] Operational Highlights - Net production reached 141 MBOE/D in 1Q25, with oil comprising 79% of the total[6, 7] - Non-energy operating costs decreased by 7% QoQ, achieving 74% of Aera merger-related synergies[3] - Approximately 70% of the remaining 2025 estimated net production is hedged at a floor price of around $67 per barrel Brent, ensuring cash flow stability[3] Synergies and Cost Structure - The company is targeting to realize $185 million of the $235 million of Aera merger-related synergies by the end of 2025[10] - A roughly 15% improvement in the 2025 estimated controllable cost structure is expected compared to the pro forma 2023 baseline[10] Carbon Management - The company is targeting first CO2 sequestration from the Elk Hills Cryogenic Gas Plant by the end of 2025[10] - The company received California's first EPA Class VI permits for CTV I – 26R, with permits becoming effective February 3, 2025[54]

Douglas Emmett (DEI) Overview Sharpshooter Focus & Best-in-Class Operating Platform Focused Strategy Fully-Integrated Operating Platform ✓ Includes in-house leasing, space planning, legal, construction and design ✓ Major competitive advantage with our small affluent tenants ✓ Lowers operating, G&A, leasing and tenant improvement costs Strong Internal and External Growth The Landmark Los Angeles www.douglasemmett.com 1 ✓ High barriers to entry reduce competitive pressures from new supply ✓ Proximity to premi ...

Non-GAAP Financial Measures Q1 2025 Earnings Presentation May 7, 2025 Disclaimer This presentation (the "Presentation") of OppFi Inc. ("OppFi" or the "Company") is for information purposes only. Certain information contained herein has been derived from sources prepared by third parties. While such information is believed to be reliable for the purposes used herein, the Company makes no representation or warranty with respect to the accuracy of such information. Trademarks and trade names referred to in thi ...

Financial Performance - The company's net income for Q1 2025 was $27.5 million, or $1.69 per share[8] - Adjusted net income for Q1 2025 was $28.4 million, or $1.74 per share, an increase of $1.2 million or $0.05 per share compared to 2024[8] - The company reaffirms its 2025 earnings guidance to be in the range of $3.01 to $3.17[55] Acquisitions and Growth - The company completed the acquisition of Bangor Natural Gas ("BNG") in January 2025, adding approximately 8,730 customers[8, 36] - The company announced the acquisition of Maine Natural Gas ("MNG") in April 2025 for approximately $86 million, expected to close by the end of the year, adding approximately 6,300 customers[8, 11] - The company announced the acquisition of three water utilities (Aquarion Water (MA & NH) and Abenaki Water (NH)) on May 6, 2025, for an enterprise value of $100 million, including approximately $30 million of debt[8, 18] Rate Base and Capital Investment - The company expects a long-term rate base growth of 6.5% - 8.5%[8] - The company's five-year projected capital investment is approximately $980 million, 46% higher than the prior five years[48] Natural Gas Operations - The company has 86,600 natural gas customers[3, 8, 59, 63, 64, 65, 66, 76, 79, 81] - Adjusted gross margin for gas operations increased by 16.2%, or $9.9 million, reflecting higher rates and customer growth[36, 37]

Q1 2025 Financial Performance - Net sales increased by 10% to $122.8 million[27] - Gross margin decreased from 37.1% to 33.2%[27] - Net income decreased by 12% to $4.8 million, with net income margin decreasing from 4.9% to 3.9%[27] - Adjusted EBITDA decreased by 8% to $21.2 million, with Adjusted EBITDA margin decreasing from 20.5% to 17.2%[27] - Free Cash Flow generation decreased to $0.3 million from $7.4 million in the prior year[27] Segment Performance - Debit and Credit net sales increased from $88.0 million to $96.5 million, while operating income decreased from $22.8 million to $21.7 million[33] - Prepaid Debit net sales increased from $24.2 million to $26.7 million, while operating income increased from $8.0 million to $8.7 million[35] Balance Sheet and Outlook - Net Leverage Ratio was 3.1x as of March 31, 2025[40] - The company affirmed its 2025 full-year outlook, expecting a mid-to-high single-digit increase in net sales and Adjusted EBITDA[11, 46] Strategic Initiatives - CPI acquired Arroweye Solutions, Inc on May 6, 2025, with expected revenues in the mid-$50 million range on an annualized basis[19, 21] - The company is focused on innovation and diversification to expand addressable markets[15]

Overall Performance - Uber's Gross Bookings ARR reached $82 billion, a 18% year-over-year increase in Q1 2025[16] - Adjusted EBITDA ARR was $3.1 billion, up 45% year-over-year in Q1 2025[16] - Q1 2025 Adjusted EBITDA was $1.868 billion, a 35% year-over-year increase[47] - Uber's Q1 2025 revenue increased by 17% year-over-year to $11.533 billion[44] - Net income attributable to Uber Technologies, Inc was $1.776 billion[70] Segment Highlights - Delivery Gross Bookings grew 18% year-over-year[59] - Delivery Adjusted EBITDA was $763 million[59] - Mobility Gross Bookings grew 20% year-over-year[56] - Mobility Adjusted EBITDA was $1.753 billion[52] - Freight revenue was $1.260 billion[64]

Financial Performance - RXO reported Q1 2025 adjusted EBITDA of $22 million[13] compared to $15 million in Q1 2024[12] - Q1 2025 revenue reached $1433 million, a 56.9% increase from $913 million in Q1 2024[12] - RXO reported Q1 2025 adjusted diluted EPS of $(003)[31] which is the same as Q1 2024[30] - The company's gross margin was 160% in Q1 2025, down from 174% in Q1 2024[12] Synergy and Integration - RXO is raising its synergy target to >$70 million, including $60 million in operating expense synergies and $10 million in capital expenditure synergies[29] - The migration of Coyote carrier and coverage operations to the RXO Connect platform was completed on May 1[23, 27] - Technology integration is expected to be substantially complete by the end of Q3[23] Volume and Market Trends - Truckload revenue per load was up 4% year-over-year[42] - LTL volume increased by 26% year-over-year, representing 25% of the total volume[19] - Last Mile stop growth accelerated to 24% year-over-year[19] Q2 2025 Outlook - RXO anticipates adjusted EBITDA to be between $30 million and $40 million[54] - The company expects brokerage volume to be down low-single-digit % year-over-year[54] - Brokerage gross margin is projected to be between 13% and 15%[54]

Q1 2025 Earnings Overview - SuRo Capital's NAV per share was $666 as of March 31, 2025[8] - The company's net assets were approximately $1568 million at quarter-end[8] - A new portfolio company investment was made in Plaid Inc for $50 million[7] - An additional $50 million debt refinance occurred in Q1[8] - $353 million in 600% Notes due 2026 were repurchased to date[11] - $350 million in 650% Convertible Notes due 2029 were issued to date[11] Portfolio Company Activity - CoreWeave, Inc successfully executed an IPO on March 28th[8] According to Reuters, CoreWeave raised over $15 billion from the listing at a valuation of approximately $230 billion[32, 38] - OpenAI announced a $400 billion financing round at a $3000 billion post-money valuation[8, 32, 47] Portfolio Composition - The top 5 positions accounted for 46% of the investment portfolio at fair value, based on a total investment portfolio fair value of $2136 million at March 31, 2025[29, 30]

Financial Performance - Q1 2025 revenue reached $17.6 million[11], compared to $12.9 million in Q1 2024[11] - Gross margin in Q1 2025 was 51%[11], a decrease from 56% in Q1 2024[11] - Net loss for Q1 2025 was $28.7 million[30], compared to a net loss of $12.4 million in Q1 2024[30] - Adjusted EBITDA for Q1 2025 was ($15.5) million[30], compared to ($7.8) million in Q1 2024[30] Key Metrics - New patient starts in Q1 2025 were 3,853[11], compared to 2,597 in Q1 2024[11] - 51% of new patient starts in Q1 2025 were reimbursed through pharmacy[11] - 71% of new patient starts in Q1 2025 came from multiple daily injections[30] 2025 Guidance - Full year 2025 total revenue is projected to be between $82 million and $87 million[18] - The company anticipates new patient starts through pharmacy to be 22-25% for the full year 2025[18] - Gross margin is expected to be 50-53% for the full year 2025[18] Strategic Highlights - The company raised approximately $206 million in net proceeds from its Initial Public Offering (IPO) in January 2025[15]