Financial Performance - Net investment income (NII) was $173 million, or $0.62 per share, down from $187 million, or $0.67 per share in the previous quarter[2] - Adjusted net investment income (Adjusted NII) was $168 million, or $0.60 per share, compared to $182 million, or $0.65 per share for the quarter ended March 31, 2025[2] - Net asset value (NAV) per share decreased to $21.93 as of June 30, 2025, from $23.37 as of March 31, 2025[2] - Adjusted NII coverage of the base dividend was 94%, and total dividend coverage was 86% for the quarter ended June 30, 2025[2] Investment Activity & Portfolio - New investment fundings totaled approximately $1.4 billion in the second quarter[2] - Net investment activity for the second quarter was $311 million, including $561 million of sales to Credit Opportunities Partners JV, LLC (COPJV)[2] - The portfolio is diversified across 218 companies in 23 industries[2,10] - Exposure to the top ten largest portfolio companies was 19% of the total portfolio fair value[2,10] - Senior secured investments represent 64.1% of the portfolio fair value, or 73.4% when looking through to COPJV investments[10,16] Capital Structure & Liquidity - The company has $3.1 billion of liquidity, including undrawn debt, cash, and unsettled trades[2,26] - 54% of drawn leverage was unsecured as of June 30, 2025, and the weighted average effective rate on borrowings was 5.34%[2,28] - 90% of liabilities mature in 2027 and beyond[2,26]

Financial Performance - GAAP net loss was $181.7 million, or $1.30 per share; distributable loss was $110.1 million, or $0.77 per share; distributable earnings prior to realized losses was $14.8 million, or $0.10 per share[2, 16] - Provision for CECL reserves was $189.5 million, or $1.33 per share, primarily driven by specific reserves[2] - Book value was $12.27 per share[2] Loan Portfolio and Resolutions - Loan portfolio totaled $5.0 billion, with 98% floating-rate and 98% senior loans[2, 3] - Year-to-date loan resolutions amounted to $1.9 billion of UPB, including $1.0 billion during the quarter[2] - Loans with a risk rating of 4 or 5 were 42% of the loan portfolio ($2.1 billion of UPB, 17 loans), compared to 48% as of June 30, 2025 ($2.6 billion of UPB, 20 loans)[2] - CECL reserves on loans receivable were $332.7 million, or $2.32 per share, approximating 6.4% of UPB[2] Liquidity and Capitalization - Total liquidity was $224 million, including $209 million of cash as of June 30, 2025, increasing to $323 million, including $310 million of cash by August 5, 2025[2, 9] - Unencumbered assets included $398 million of loan UPB and $115 million of REO carrying value[2] - Net unfunded loan commitments declined to $123 million[2] - Outstanding financings decreased by $652 million during the quarter, including $188 million of deleveraging payments[2] - Net debt / equity ratio declined to 2.2x, and total leverage ratio declined to 2.6x[2] Real Estate Owned (REO) - Mixed-use REO generated $29 million of gross proceeds primarily related to the sale of five floors of office space[2, 38] - Refinanced debt related to the real estate owned hotel portfolio with a $235 million non-recourse loan[2, 38]

Financial Performance - Revenue decreased by 2.3% from $189.8 million in Q2 2024 to $185.4 million in Q2 2025[29, 31] - Gross profit increased from $51.3 million in Q2 2024 to $53.9 million in Q2 2025, resulting in a gross margin increase of 200 bps[31, 33] - Adjusted EBITDA increased by 9.0% from $22.1 million in Q2 2024 to $24.1 million in Q2 2025[29, 31] - Adjusted EBITDA margin increased by 130 bps from 11.7% in Q2 2024 to 13.0% in Q2 2025[29, 31, 33] - Net income decreased from $6.4 million in Q2 2024 to $3.0 million in Q2 2025[31] Revenue by Industry - Oil & Gas revenue decreased by 5.9% from $109.3 million in Q2 2024 to $102.8 million in Q2 2025[29] - Aerospace & Defense revenue increased by 7.4% from $22.3 million in Q2 2024 to $24.0 million in Q2 2025[29] - Power Generation & Transmission revenue increased significantly by 30.6% from $9.0 million in Q2 2024 to $11.8 million in Q2 2025[29] Cash Flow and Debt - Net cash provided by operating activities decreased from $5.1 million in 2024 to -$3.5 million in 2025 for the six months ended June 30[34] - Free cash flow decreased from -$6.9 million in 2024 to -$16.2 million in 2025 for the six months ended June 30[35] - Total gross debt increased from $169.6 million in 2024 to $189.4 million in 2025[36] - Total net debt increased from $151.3 million in 2024 to $168.8 million in 2025[36]

Q2 2025 Investor Presentation August 7, 2025 Use of Data Industry and market data used in this Presentation have been obtained from third-party industry publications and sources, as well as from research reports prepared for other purposes. Redwire has not independently verified the data obtained from these sources and cannot assure you of the data's accuracy or completeness. This data is subject to change. Statements other than historical facts, including, but not limited to, those concerning market condit ...

Second Quarter 2025 Results August 7, 2025 1 Safe Harbor Statements Cautionary Note Regarding Forward-Looking Statements The information presented herein includes forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements, which are based on current expectations, estimates and projections about the industry and markets in which Vistra Corp. ("Vistra") operates and beliefs of and assumptions made by Vistra's management, involve risk ...

Company Overview - Chicago Atlantic is a commercial mortgage REIT and lender focused on state-licensed cannabis operators[11] - The company has closed over 100 cannabis loans across its platform[9] - Since its inception in 2019, the origination team has closed over $28 billion in credit facilities, with $22 billion to cannabis operators[11] - The company is evaluating a near-term pipeline of approximately $650 million in potential loans[9] Portfolio Highlights - The outstanding loan principal is $4219 million with a gross portfolio yield of 168%[9] - The real estate collateral coverage in the current portfolio is 12x[9] - The top 10 loans account for 616% of the total principal outstanding[28] - Floating-rate loans constitute 407% of the portfolio, while fixed-rate loans make up 593%[29] Financial Performance - For the three months ended June 30, 2025, net income was $887 million, or $042 per basic share[75] - Distributable Earnings for the quarter were $1085 million, or $052 per basic share[76] - The company's total assets as of June 30, 2025, were $4552 million[71] Market Opportunity - The U S cannabis industry is estimated to reach $35 billion in retail revenue in 2025 and is projected to grow to $69 billion by 2031[55] - Chicago Atlantic estimates the current value of the U S cannabis debt market to be $12 billion, with the company holding approximately 18% market share[57] - Assuming the company maintains its 18% debt market share, the private credit opportunity could grow to over $4 billion by 2031[58]

Financial Performance - Net investment income per share was $008 in Q2 2025, compared to $013 in Q2 2024[7] - Distributions declared and paid were $0105 per share for each quarter from Q2 2024 to Q2 2025[7] - Net asset value was $206 per share at the end of Q2 2025, a decrease from $243 in Q2 2024[7] - Total fair value of investments was $2415 million in Q2 2025, down from $2521 million in Q2 2024[7] - Net assets were $1574 million in Q2 2025, compared to $1524 million in Q2 2024[7] Portfolio Composition and Activity - New investments were $0 million in Q2 2025, a significant decrease from $288 million in Q2 2024[9] - The portfolio consisted of 50% first-lien secured debt, 11% second-lien secured debt, 37% CLO equity, and 2% other investments as of Q2 2025[9] - The weighted average yield of total investments at current cost was 116% in Q2 2025, compared to 118% in Q2 2024[9] - 608% of the company's investments are in senior secured debt[22] Debt and Non-Accrual Status - Principal amount of debt outstanding was $1153 million in Q2 2025[7] - Total non-accrual investments at fair value were $50 million in Q2 2025[28]

Second Quarter 2025 Results August 6, 2025 Forward looking statements This presentation includes certain statements that may constitute "forward-looking statements" for purposes of the federal securities laws. Forward-looking statements include, but are not limited to, statements that refer to projections, forecasts or other characterizations of future events or circumstances, including any underlying assumptions. The words "anticipate," "believe," "continue," "could," "estimate," "expect," "intends," "may, ...

Q2 2025 Performance - Record sales, operating income, and EPS were achieved in Q2 2025[5] - Organic sales increased by 6% due to favorable pricing, pull-forward demand, and incremental volume[5] - The adjusted operating margin reached a record of 21.6%, representing an expansion of 280 bps[5] - Adjusted EBITDA was $153 million, a 22% increase[13] - Adjusted EPS increased by 26% to $3.09[14] Segment Performance - Americas experienced a 10% increase in organic sales, with acquisitions adding $7 million[18] - Europe saw an 8% decrease in organic sales, but benefited from a $6 million FX benefit[18] - APMEA experienced a 1% decrease in organic sales due to project timing in China[18] Financial Position - Free cash flow was $105 million, a 12% decrease compared to the previous year[15] - The net debt to capitalization ratio was negative 10%[18] - Net leverage was negative 0.4x[18] 2025 Outlook - The full-year reported sales growth outlook was raised to between +2% and +5%[19] - The full-year organic sales growth outlook was raised to between flat and +3%[19] - The full-year adjusted EBITDA margin outlook was raised to between 20.7% and 21.3%[19]

TSX CG NYSE CGAU STRONG PLATFORM FOR FUTURE GROWTH Second Quarter 2025 Results Conference Call & Webcast AUGUST 7, 2025 BUILDING A Cautionary Statement on Forward Looking Information All statements, other than statements of historical fact contained or incorporated by reference in this document, which address events, results, outcomes or developments that the Company expects to occur are, or may be deemed to be, forward-looking information or forward-looking statements within the meaning of certain securiti ...