Financial Performance - AmRest's H1'25 revenues reached EUR 1,261.9 million, a 2.5% increase compared to H1'24, or 3.9% excluding disposals[7, 15] - Adjusted EBITDA for H1'25 was EUR 196.5 million, flat compared to last year[7] - EBIT for H1'25 was EUR 47.5 million, resulting in a 3.8% EBIT margin compared to 1.9% in H1'24[7] - Q2'25 sales grew by 0.4% compared to Q2'24, or 3.9% excluding SCM, reaching EUR 641.7 million[28] - Q2'25 EBITDA amounted to EUR 107.7 million, with a 16.8% margin[28, 31] - Net profit in Q2'25 was EUR 7.8 million, compared to a loss of EUR 23.1 million in the same period of 2024[41, 42] Restaurant Portfolio and Operations - The company had 2,103 restaurants as of June 30, 2025[3, 22, 70] - Equity restaurants constitute 88% of the total restaurant portfolio[22] - Digital sales accounted for 57% of total AmRest & dine-in sales in H1'25[19] - The company opened 36 new restaurants in H1'25[7, 26] Segment Performance (Q2'25) - CEE region revenues reached EUR 399.5 million, an 8.3% increase compared to Q2'24, with an EBITDA of EUR 78.9 million and a 19.8% margin[54, 57] - WE region revenues were EUR 219.6 million, a 1.9% decrease compared to Q2'24, with an EBITDA of EUR 33.7 million and a 15.3% margin[59, 62] - China revenues reached EUR 22.6 million, a 9.6% decrease compared to Q2'24, with an EBITDA of EUR 5.2 million and a 22.8% margin[64, 67]

Offer Summary - BBVA offers Banco Sabadell shareholders a unique opportunity to be captured now [1] - The offer has been authorized by the Spanish Securities Market Commission [3] - The offer consideration includes both BBVA shares and cash [39] - The offer is subject to acceptance of >50% of voting rights [39] Strategic Rationale and Synergies - The strategic rationale is even more convincing since the announcement, driven by European focus on investment, need for larger banks, and technological disruption [14, 16] - Increased annual synergies post-merger are estimated at €1.45 billion pre-tax [34] - Cost synergies account for €900 million, including €510 million in opex savings and €325 million in personnel cost savings [34] - Funding synergies are projected at €65 million [34] Financial Impact and Valuation - The current equivalent value of the offer is €17.4 billion [39] - The offer represents a premium of 30% over the undisturbed price [39] - BBVA shareholders are expected to see a +5% EPS accretion post-merger [61] - Sabadell shareholders are expected to see a +25% EPS accretion post-merger [61]

Financial Performance & Targets - Information & Communication business achieved net sales of JPY 929.3 billion and a non-GAAP operating profit of JPY 50.2 billion in FY2024, with an operating margin of 5.4%[7] - The FY2025 plan aims to increase profit through scaling the digital business and structural reforms of existing businesses[9] - The company projects sales of JPY 907.0 billion and a 7% non-GAAP operating margin for FY2025, and targets sales of JPY 921.0 billion with a non-GAAP operating margin of over 10% by FY2030[30] - The company aims to increase the portion contributed by growth fields to 60% by FY2030, with sales of JPY 542.0 billion and a non-GAAP operating margin of 10%+[30] Business Strategy & Growth Initiatives - The company is shifting from providing standalone digital solutions to "continuous services" that combine multiple solutions, including operational support, to establish a cyclical business model[17, 19] - The company is concentrating on target markets and bolstering proposal activities, focusing on Security, Marketing DX, BPO, and IoT/Auto-ID, with a combined SAM of approximately JPY 6.1 trillion in 2030 and a market growth rate of approximately 7.6%[20, 21] - The company is integrating TOPPAN, TOPPAN Edge, and TOPPAN Digital to strengthen and optimize resources, aiming to visualize the skills of approximately 6,000 DX personnel and reallocate resources[23, 24] - The company is strengthening AI utilization and AI service development to enhance internal productivity and accelerate the provision of high-value-added services incorporating AI[25, 26] Security DX - The company aims to expand its security DX business by shifting from a physical-centric business to a more digital one, centered on data management in secure environments[52, 53] - The company estimates the security DX market potential in Japan to be nearly JPY 2 trillion with a CAGR of approximately 10%[67] - The company is leveraging businesses and manufacturing facilities acquired through M&A to expand the payment and personal ID businesses, focusing on the Global South[76, 78] Marketing DX - The company aims to contribute to "subtraction (reducing costs through marketing BPR)" and "addition (generating profit by enhancing customer experience)" in clients' businesses through marketing DX[94] - The company estimates the marketing DX market with an estimated SAM of JPY 1.3 trillion in FY2024 and a CAGR of 7.7%[96, 97] - The company aims to achieve JPY 100 billion in sales for Marketing DX by FY2030 by providing end-to-end marketing DX and accelerating talent development[117] BPO - The company's BPO business delivers value by leveraging strengths in highly-specialized BPR consulting and business process design capabilities, rooted in an understanding of systems and industries cultivated in the public and financial sectors[140] - The company estimates the SAM of BPO for complex operations is approximately JPY 630 billion, with a CAGR of approximately 5.0%[143] - The company intends to expand sales revenue from JPY 77.0 billion to JPY 83.0 billion towards 2030, growing complex operations at a CAGR of 10% and shifting the proportion of complex operations from 40% to 60%, aiming to enhance profitability and raise operating profit margin from 8% to 15%[164, 165] IoT / Auto-ID - The company is shifting from single items and a one-time model to integrated packaged services and a continuous model in the IoT/Auto-ID business[173] - The company's mission is to give an ID to everything, generate data, and create customer value to enable a society in which all "things" are linked[178] - The company estimates the 2025 SAM for high-value-added RFID markets to be JPY 252.7 billion, growing to JPY 404.2 billion by 2030, with a CAGR of 9.9%[183]

Financial Performance - Total revenue reached US$139.8 million[10], with the BTC mining business contributing US$138.1 million[11] - Adjusted EBITDA was US$99.1 million, a significant increase compared to US$5.4 million in the same period of 2024[16] - Cash and cash equivalents stood at US$117.8 million as of June 30, 2025[12] Operational Highlights - The company expanded its total mining capacity to 50 EH/s, representing 6% of the global network's computing power as of June 30, 2025[19] - A total of 1,404.4 BTC were mined during the quarter, increasing the company's BTC treasury to 3,879.2 BTC by quarter end[19] - The value of BTC holdings (HODL) was US$420.5 million as of June 30, 2025[19] - Average cash cost to mine was US$83,091 per BTC[20] Strategic Initiatives - Completed the share-based acquisition of 18 EH/s of hashrate[19, 54] - Cango acquired a 50 MW mining facility in Georgia, USA, with 30 MW for self-mining and 20 MW for hosting services[56] Key Metrics - Cumulative Coins per Million ADS was 21.9 BTC in Q2 2025[14, 22] - Total Operating Capacity reached 1,200 MW as of June 30, 2025[20, 34]

Company Overview - West African Resources (WAF) aims to become a sustainable +500koz gold producer by 2029 [37, 98] - The company targets an average production of 477,000 oz per annum from 2025 to 2034 [44] - WAF's market capitalization is A$3,252 million as of August 25, 2025, with 1,141,029,225 ordinary shares outstanding at A$2.85 per share [24, 25] - As of June 30, 2025, the company holds A$328 million in cash and bullion [24] Operations and Resources - The company's mineral resources are estimated at 12.2 Moz of gold [24, 98, 102] - Ore reserves are estimated at 6.5 Moz of gold, with 83% of the production target based on ore reserves [24, 98] - The Sanbrado Gold Mine has resources of 4.7 Moz gold and reserves of 2.0 Moz gold [49] - The Kiaka Gold Project has resources of 7.5 Moz gold and reserves of 4.5 Moz gold [53] Production and Exploration - The company provides a production guidance of 290,000 - 360,000 oz for 2025 [24] - WAF plans to conduct +200,000m of drilling in 2025-2026 [44, 98] - Key programs for 2025 include 30,000m underground drilling at M5, 15,000m surface drilling beneath M5 open-pit, and 13,500m drilling at Toega [44] Sustainability and Community - In 2024, A$154 million in taxes and royalties were paid to the Government of Burkina Faso [61] - Since the start of mining operations in 2020, US$370 million has been contributed to Burkina Faso in taxes and royalties [67]

Financial Performance Highlights - Total revenue for Q2 FY2026 reached $117 million, a 15% year-over-year increase[12] - Adjusted EBITDA for Q2 FY2026 was $22 million, a 239% year-over-year increase[12] - The company achieved net income of $0.7 million in Q2 FY2026 due to a deferred tax benefit[12] - The company has approximately 4,467 average healthcare services clients (AHSCs) [16] - The company processes over $4 billion in patient payments annually [10,16] - The company's total addressable market (TAM) is approximately $24 billion [36] Acquisition and Future Outlook - The company intends to acquire AccessOne for $160 million in cash, funded through a mix of cash and debt, expected to close in the second half of fiscal year 2026 [10] - The company anticipates AccessOne to contribute approximately $35 million in annualized revenue and $11 million in annualized Adjusted EBITDA [44] - The company projects total revenue for fiscal year 2026 to be between $472 million and $482 million [43] - The company projects Adjusted EBITDA for fiscal year 2026 to be between $87 million and $92 million [43]

AI Knowledge Platform & Market Opportunity - eGain helps companies reduce customer service costs by 75% while improving experience by 20 NPS points using AI Knowledge[7] - The AI Knowledge market represents a $20B+ SaaS opportunity for service[12] - Potential cost savings of $400 billion annually through AI Knowledge solutions[11] Financial Performance & Growth - AI Knowledge ARR grew 25% year-over-year in Q425[37] - AI Knowledge ARR represents 59% of SaaS ARR, up from 52% a year ago[38] - AI Knowledge net retention of 115%, up from 98% a year ago[38] - Total revenue for Q425 was $23.2 million, up 3% year-over-year[42] - SaaS revenue for Q425 was $21.7 million, up 6% year-over-year[42] - The company bought back $3.8 million in stock in Q425[42] FY26 Outlook - Targeting 20+% growth in ARR Knowledge business, with ARR of $44.8M in FY25[48]

Business Overview - Concrete Pumping Holdings (CPH) is a market leader in concrete pumping services in the US and UK, and a leading concrete waste management service provider in the US[8, 12] - CPH's business model is low risk, as it does not purchase, transport, or own concrete, and invoices daily for its services[17] - CPH's competitive advantages include a wide range of equipment, availability, technical expertise, and reliability[19] Financial Performance - TTM Q3'25 Revenue is $396 million[8] - TTM Q3'25 Adjusted EBITDA is $100 million, with a 253% margin[8] - TTM Q3'25 Free Cash Flow is $58 million[8] Growth Strategy - CPH aims to capture greater market share, optimize pricing and utilization, expand Eco-Pan services, pursue acquisitions, and explore greenfield opportunities[25] - The total US market opportunity for Eco-Pan is estimated at over $850 million, with FY24 revenue at $71 million, representing approximately 8% penetration[27] Financial Outlook and Valuation - FY 2025 Revenue outlook is $380-$390 million, and Adjusted EBITDA outlook is $95-$100 million[71] - FY 2025 Free Cash Flow outlook is approximately $45 million, implying a 12% yield to the current equity value of $380 million[71, 72] - The company's net debt is approximately $384 million, with a leverage ratio of 38x[81, 86]

Q2 FY26 Performance Highlights - Total revenue reached $801 million, demonstrating a 9% year-over-year growth[14] - Billings increased by 13% year-over-year, reaching $818 million[14] - Non-GAAP operating margin was 29.8%, resulting in $218 million[14] - Free cash flow represented 27% of total revenue[14] - International revenue grew by 13% year-over-year and accounted for 29% of total revenue[42] Customer Base and Agreement Management - The company has over 1740000 customers and more than 1 billion users across 180+ countries[14] - 95% of Fortune 500 companies are Docusign customers[14] - Docusign is helping 10000+ organizations advance their agreement maturity with IAM[36] Financial Guidance - Q3 FY26 total revenue is projected to be between $804 million and $808 million, representing a 7% year-over-year change[73] - FY26 total revenue is projected to be between $3189 million and $3201 million, representing a 7% year-over-year change[76]

Q2 FY26 Investor Presentation September 4, 2025 Disclaimer and Statement Regarding Use of Non-GAAP Measures This presentation contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. These statements may relate to, but are not limited to, expectations of future operating results or financial performance, market size and growth, industry developments and trends, the calculation of certain of our financial and o ...