NASDAQ: TRNS Fiscal 2026 Q1 Financial Results Lee D. Rudow President and CEO Michael W. West Chief Operating Officer Tom L. Barbato Chief Financial Officer August 7, 2025 Safe Harbor Statement This presentation contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. All statements other than historical fact are forward-looking statements. Forward-looking statements are not statements of historical fact and thus are subject to risks, uncertainties and a ...

2025 Second Quarter Earnings 11:00 a.m. ET, August 7, 2025 NYSE: CDE NYSE: CDE JC 2016 1 Cautionary Statements NYSE: CDE 2 JC 2016 Second Quarter 2025 Highlights • Strong production and cost performance drove margin expansion • Record quarterly net income, free cash flow and adjusted EBITDA 1,2 • Remaining revolver balance repaid; net leverage ratio falls to 0.4x This presentation contains forward-looking statements within the meaning of securities legislation in the United States and Canada, including stat ...

Financial Performance - GCM Grosvenor reported GAAP net income attributable to GCM Grosvenor Inc of $15437 thousand for the three months ended June 30, 2025[50] - GCM Grosvenor reported GAAP net income attributable to GCM Grosvenor Inc of $15900 thousand for the six months ended June 30, 2025[50] - Adjusted EBITDA increased by 9% to $49516 thousand for the three months ended June 30, 2025, compared to the same period in 2024[51] - Adjusted EBITDA increased by 17% to $102892 thousand for the six months ended June 30, 2025, compared to the same period in 2024[51] - Adjusted Net Income increased by 9% to $32090 thousand for the three months ended June 30, 2025, compared to the same period in 2024[51] - Adjusted Net Income increased by 19% to $67364 thousand for the six months ended June 30, 2025, compared to the same period in 2024[51] - The Board of Directors approved a dividend of $011 per share, payable on September 16, 2025[3,46] Assets Under Management (AUM) and Fundraising - Assets Under Management (AUM) reached approximately $86 billion[6,19] - Fee-Paying AUM (FPAUM) increased by 9% to $691 billion as of June 30, 2025, compared to June 30, 2024[12] - Private Markets FPAUM increased by 9% to $455 billion as of June 30, 2025, compared to June 30, 2024[12] - Absolute Return Strategies FPAUM increased by 10% to $236 billion as of June 30, 2025, compared to June 30, 2024[12] - CNYFPAUM increased by 19% to $87 billion as of June 30, 2025, compared to June 30, 2024[12] - The company raised $24 billion of new capital in the second quarter of 2025[13,27] - The company raised $53 billion year-to-date, an increase of 52% compared to prior year-to-date[8,13] Strategic Shifts and Growth Drivers - Private Markets represented 71% of AUM[16,17,34] - Direct-Oriented Strategies accounted for 53% of Private Markets AUM[16,17,34] - The firm share of unrealized carried interest balance was $451 million[13,16]

Financial Performance - Q2 2025 - GAAP Sales reached $200 million[9] - Adjusted EBITDA was $56 million[9] - Adjusted EBITDA Margin was 24%, including a proportionate 50% share of sales from the Zeolyst Joint Venture of $28 million[9, 10] - Adjusted Free Cash Flow was negative $(2) million[9] - Net Debt Leverage Ratio was 35x[9] Segment Performance - Q2 2025 - Ecoservices sales increased by 144% due to favorable contractual pricing and pass-through of higher sulfur costs, reaching $176 million[7, 18] - Advanced Silicas sales decreased by 166% due to timing of sales for niche custom catalysts, amounting to $241 million[7, 20] - Zeolyst Joint Venture sales decreased slightly by 21% due to timing of sales for hydrocracking and custom catalysts, totaling $284 million[7, 20] Cash Flow and Capital Allocation - The company repurchased 29 million shares totaling approximately $22 million[7] - Available liquidity was $152 million, including $69 million in cash and cash equivalents and $83 million availability on the revolving ABL facility[9, 10] 2025 Outlook - Revised sales outlook is $795 million - $835 million[32] - Revised Adjusted EBITDA outlook is $242 million - $254 million[32] - Revised Adjusted Free Cash Flow outlook is $70 million - $80 million[32]

Investor Presentation August 2025 Disclaimer This presentation includes forward-looking statements within the meaning of the federal securities laws, including Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. You can typically identify forward-looking statements by words such as "aim," "anticipate," "achievable," "believe," "budget," "continue," "could," "effort," "estimate," "expect," "forecast," "goal," "guidance," "intend," "likely," "may," "might," "objec ...

Company Strategy & Performance - Chord Energy is positioned as a premier Williston Basin operator focused on enhancing free cash flow generation[1,9] - The company emphasizes a disciplined return of capital and balance sheet management[10] - Chord Energy has returned >$5 billion to shareholders since 2021, representing >50% of the current enterprise value[17,24] - The company is driving per share growth across key metrics, including a 12% CAGR in oil production per share since 2021[36,38] Operational Efficiency & Cost Reduction - Continuous improvements are driving approximately 20% free cash flow growth versus original guidance[25] - Capital expenditure is ~$50 million (~4%) below the original outlook due to faster cycle times and increased pumping hours[26,32] - The company is implementing 4-mile laterals, which are expected to improve inventory quality and lower breakevens, with seven TILs planned in FY25[47,51] Financial Strength & Capital Allocation - Chord Energy maintains a strong balance sheet with 0.3x leverage[15,70] - The company has >$1.8 billion of liquidity as of 2Q25[70,73] - The company aims for peer-leading return of capital, targeting 75%+ of adjusted free cash flow at current leverage[126,127]

Financial Performance Highlights - Q2 2025 net earnings reached $386 million[9] - Q2 2025 adjusted EBITDA was $761 million[11], while the last twelve months (LTM) adjusted EBITDA totaled $25 billion[11] - First half (1H) 2025 net earnings amounted to $698 million[13] - First half (1H) 2025 adjusted EBITDA was $14 billion[13], a 16% increase compared to 1H 2024[18] - Last twelve months (LTM) free cash flow for Q2 2025 was $17 billion[13] - The company returned $19 billion to shareholders in the last twelve months (LTM) through Q2 2025[13] Operational Excellence and Capital Allocation - The company's capacity utilization for 1H 2025 was 99%[15] - The 12-month rolling average recordable incident rate was 030 per 200,000 work hours as of June 30, 2025[15] - Share repurchase authorizations through 2029 are approximately $24 billion[15] Strategic Initiatives and Outlook - The Donaldsonville carbon capture and storage (CCS) project started up in July 2025 and is capturing CO2 at the expected rate[18, 21] - The company projects ~$100 million in free cash flow annually for 12 years from the Donaldsonville CCS project[21] - Gross ammonia production in 2025 is expected to be approximately 10 million tons[18] - Strategic initiatives are projected to increase EBITDA by 20% to ~$3 billion and free cash flow by 33% to ~$2 billion from the current mid-cycle to the expected 2030 mid-cycle[18]

Company Overview - Kimbell Royalty Partners offers a 10.1% annualized cash distribution yield[6] - The company has interests in over 131,000 gross wells across over 17 million gross acres in the US[13] - Kimbell has completed over $2.0 billion in M&A transactions since its IPO in 2017[13] - Kimbell has grown run-rate average daily production by over 8x since IPO[13] - Kimbell has returned 71% of $18.00/unit IPO price via quarterly cash distributions[13] Financial Performance - Kimbell generated $74.7 million in Oil, Natural Gas and NGL Revenues in Q2 2025[16] - Consolidated Adjusted EBITDA was $63.8 million in Q2 2025[16] - Q2 2025 run-rate average daily production was 25,355 Boe/d (6:1)[16] - Net Debt / TTM Adjusted EBITDA was 1.6x as of 6/30/2025[15] Asset Base and Strategy - Kimbell estimates that approximately 100% of the distribution to be paid on August 25, 2025 is estimated to constitute non-taxable reductions to the tax basis of each distribution recipient's ownership interest in Kimbell[10] - The company has a shallow PDP decline rate of approximately 14%[15] - Kimbell has a net royalty acre position of approximately 158,350 acres[15] - Kimbell estimates that only 6.5 net wells are needed per year to maintain production[38] - Kimbell has 88 active rigs drilling on its acreage, representing approximately 17% market share of U S land rig count[18]

Financial Performance - Rental revenue for the three months ended June 30, 2025, was $48544 thousand[9] - Net income attributable to common stockholders for the three months ended June 30, 2025, was $8598 thousand[9] - EBITDAre for the three months ended June 30, 2025, was $37870 thousand[9] - FFO per common share - diluted was $054 for the three months ended June 30, 2025[9] - AFFO for the three months ended June 30, 2025, was $29997 thousand[9] Portfolio Metrics - The company had 136 properties as of June 30, 2025[9] - Rentable square feet was 5194 thousand as of June 30, 2025[9] - Weighted average leased rate was 992% as of June 30, 2025[9] - Triple net lease exposure was 999% as of June 30, 2025[9, 10] Debt and Liquidity - Principal debt outstanding was $581000 thousand as of June 30, 2025[11] - Net debt was $556168 thousand as of June 30, 2025[11] - Liquidity was $568832 thousand as of June 30, 2025[13]

EARNINGS CONFERENCE CALL 2 ND QUARTER 2025 A U G U S T 7 , 2 0 2 5 This presentation may contain forward-looking statements. These statements are not historical facts and are based on the Company's current vision and estimates of the Company's management regarding future economic and other circumstances, industry conditions, performance and financial results, including any potential or projected impact related to Alagoas and related legal proceedings on the Company's business, financial condition and operat ...