Financial Data and Key Metrics Changes - Total revenues for Q3 2025 were RMB 92.5 million, reflecting year-over-year and sequential decreases primarily due to reduced sales volume of EH216 series products [31][32] - Gross profit was RMB 56.2 million, with a gross margin of 60.8%, slightly down from 61.2% in Q3 2024 and 62.6% in Q2 2025 [32] - Adjusted net loss was RMB 20.3 million, compared to adjusted net income of RMB 15.7 million in Q2 2024 and RMB 9.4 million in Q2 2025 [33] Business Line Data and Key Metrics Changes - The company delivered 42 units in Q3, including 41 units of the EH216 series and the first VT35, with 39 units delivered in China and 3 units to overseas customers [16][17] - Deliveries were impacted by delayed payment schedules from certain customers, with 30 units expected to be recognized in Q4 [17] Market Data and Key Metrics Changes - The company is expanding its international presence, with notable progress in Asia, the Middle East, and Africa, including trial operations in Thailand and Qatar [11][12][22] - The EH216 series has completed over 80,000 flights globally, enhancing its international credibility [22] Company Strategy and Development Direction - The company is focused on operations-driven sales, optimizing delivery pace, and supporting existing customers to establish sustainable commercial operations [4] - The launch of the VT35 aims to cover diverse application scenarios in the low-altitude economy, with a pre-sale price of CNY 6.5 million [7][8] - The company is deepening partnerships with local governments, such as the Hefei government, to establish product hubs and enhance the entire industry chain [8][10] Management Comments on Operating Environment and Future Outlook - Management expressed confidence in achieving the full-year revenue guidance of approximately RMB 500 million, supported by a solid foundation for long-term growth [34] - The supportive policy environment and the company's comprehensive product portfolio are expected to drive future growth [15][30] Other Important Information - The company raised $10 million through its at-the-market offering program, aimed at R&D, team expansion, and commercial operations [33] - A new board member, Ms. Hai Ying Li, was welcomed to enhance the company's international perspective and strategic decision-making [15] Q&A Session Summary Question: Insights on the sandbox initiative and timeline for commercial operations - Management confirmed that the sandbox initiative in Thailand has been approved, with plans to officially commence eVTOL commercial operations in the next three months [36][37] - The goal is to establish 20 sandbox initiatives by the end of 2026, potentially leading to the delivery of 100 EH216 units in that year [39] Question: Expansion into unmanned product portfolios and their revenue contribution - Management highlighted that both manned and unmanned operations are critical for the low-altitude economy, with plans to diversify the product portfolio to increase revenue [42][44] Question: Plans for the VT35 and gross profit margin stabilization - The VT35's airworthiness application is progressing steadily, with expectations for gross profit margin to stabilize around 60% despite slight fluctuations due to new product introductions [49][54]

Business Performance - Loan book grew by 8% QoQ, outperforming the industry growth of 7.6%[8] - Total deposits increased by 15% QoQ and 40% YoY[8] - US$ deposits reached record levels, up 31% QoQ and 56% YoY[8] - Net fee income increased by 7% QoQ and 9% YTD[8] Profitability and Asset Quality - The company experienced a net loss of 50 billion in 3Q25 due to increased Cost of Risk (COR)[8] - Net Interest Margin (NIM) declined to 11%[8] - NPL ratio increased to 3.9%[8] - Net COR was 6.4% in 3Q25 and 5.2% YTD[8] Strategic Initiatives and Capital - CET1 ratio stood at 13.2% as of September 2025, increasing to 14.5% by October 2025[8, 18] - The company continued to evolve its SuperApp[8] - Cost reduction of 2% QoQ and 12% YTD was achieved[8] Macroeconomic Context - The Central Bank Market Expectations Survey as of October 2025 projected inflation of 30%, an Fx eop at 1,532, and GDP growth of 3.9% in 2025[15, 19]

Peter Wawer (GIP Division President), Adam White (PSS Division President) London, 26 - 27 November 2025 We Power AI Divisional update call public 1 Agenda and speakers 13% 11% 8% 6% 3% 59% E-mobility Power infrastructure1 Software- defined vehicle IoT AI/Data center FY25 revenue of €14.7bn by segment and key growth application Main growth contributors (addressed by multiple segments) Other applications 1 Power infrastructure = Renewables + Grid infrastructure (e.g. transmission, distribution, storage…) Spea ...

Financial Data and Key Metrics Changes - Revenue grew 53.8% year-over-year in 2024, with expectations of close to 35% year-over-year growth in 2025, indicating strong top-line expansion over the past two years [3][4] - The company anticipates approximately 15% year-over-year revenue growth in 2026, focusing on achieving sustainable net profitability [4] Business Line Data and Key Metrics Changes - The growth is attributed to an increase in the number of students and parents served, strengthening of the product portfolio, and growing brand influence [3] - Integration of online and offline solutions, along with AI enhancements, is progressing steadily, improving user experience in courses [4] Market Data and Key Metrics Changes - The company is experiencing sustained operating leverage as it scales, which supports the foundation for achieving full profitability at target scale [4] Company Strategy and Development Direction - In 2026, the company plans to balance growth with a major focus on profitability, guiding the execution of its overall strategy [4] - The company aims to improve operating cash flows and move towards sustainable net profitability in 2026 [4] Management Comments on Operating Environment and Future Outlook - Management highlighted the steady increase in user demand and motivation as key drivers for growth, alongside product integration and brand strength [3][4] Other Important Information - The company encourages further inquiries through its Investor Relations Department and offers subscription to news alerts on its IR website [6] Q&A Session Summary Question: Insights on 2026 growth expectations and business line plans - Management provided insights on anticipated growth rates and the strategy to balance growth with loss reduction, emphasizing profitability as a key focus for 2026 [2][4]

Financial Data and Key Metrics Changes - The company reported a net profit of approximately $17 million for the quarter, with EBITDA at $238 million and liquidity exceeding $555 million [2][3]. - Capital expenditures (CapEx) are currently at $1.6 billion, with a contract backlog remaining stable at around $3 billion [3][4]. - An interim dividend of $0.05 per share was declared, payable in early January [3]. Business Line Data and Key Metrics Changes - In the dry bulk segment, the company achieved a TCE of $29,500 for Newcastlemaxes in Q3, increasing to nearly $34,000 in Q4. Capesize rates rose from $20,500 in Q3 to $26,200 in Q4, while Kamsarmax and Panamax rates improved from $13,500 to $17,000 [12][13]. - The tanker division saw Q3 rates of $30,500 for VLCCs, with Q4 rates reaching $68,000, and Suezmax rates increased from $48,000 to close to $60,000 [18][19]. Market Data and Key Metrics Changes - The company remains positive on tankers, dry bulk, and offshore markets, while expressing caution regarding containers and chemicals due to supply-demand imbalances [7][9]. - Demand for capesize ton miles is expected to grow by nearly 3% next year, with only 9% of the fleet on order, indicating strong fundamentals in the dry bulk market [10][14]. Company Strategy and Development Direction - The company is focused on increasing spot exposure in dry bulk and large tankers, positioning itself to benefit from favorable market conditions [4][10]. - A new multipurpose accommodation service vessel (MPASV) has been ordered to enhance capabilities in both oil and gas and offshore wind markets [23][26]. Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about the operational leverage and free cash flow generation capacity, projecting an additional $600 million in liquidity over the next year at current rates [5][6]. - The company is cautious about the container and chemical markets, anticipating challenges due to high order books and supply-demand dynamics [9][22]. Other Important Information - The company has successfully integrated the Golden Ocean merger, with a focus on optimizing its fleet and financial structure [2][3]. - Management emphasized a fully discretionary dividend policy, indicating flexibility in cash allocation for shareholder rewards and debt reduction [33][52]. Q&A Session Summary Question: Impact of delayed carbon pricing by IMO on dual-fuel technology demand - Management noted that while the delay is not ideal, it does not alter their strategy, which is based on finding partners for dual-fuel technology [28][29]. Question: Investment philosophy regarding new builds in dry bulk and tankers - The company has invested significantly in recent years and will continue to look for opportunities, but current new builds are considered pricey [30][31]. Question: Dividend policy and future expectations - The dividend policy remains discretionary, with no fixed payout ratio, allowing for flexibility in cash management [33][52]. Question: Interest expenses and one-off impacts - Elevated interest expenses were attributed to bridge financing and arrangement fees from recent acquisitions [42][43]. Question: Expectations for fixed contracts and growth - The company aims to increase fixed contract coverage but does not have a specific target due to market variability [57]. Question: Tariffs impact on the company - The impact of tariffs has been minimal, with the company benefiting from limited exposure to affected markets [58][59].

Financial Data and Key Metrics Changes - Total revenues for Q3 2025 were RMB 92.5 million, showing year-over-year and sequential decreases primarily due to decreased sales volume of EH216 series products [29][30] - Gross profit was RMB 56.2 million, with a gross margin of 60.8%, slightly lower than 61.2% in Q3 2024 and 62.6% in Q2 2025 [30][31] - Adjusted net loss was RMB 20.3 million, compared to adjusted net income of RMB 15.7 million in Q2 2024 and RMB 9.4 million in Q2 2025 [31] Business Line Data and Key Metrics Changes - The company delivered 42 units in Q3, including 41 units of the EH216 series and the first VT35, with deliveries mainly in China [16][17] - The VT35 was launched in October, with a pre-sale price of CNY 6.5 million, and has already received purchase orders from customers in Hefei, Zhejiang, and Hainan [6][7] - The GD4.0 drone began mass production and commercial deployment, achieving significant performance milestones during events [10][28] Market Data and Key Metrics Changes - Deliveries in Q3 were primarily in China, totaling 39 units, with some sales agreements signed but payments delayed, affecting revenue recognition [17] - The company is expanding its international footprint, achieving notable progress in Asia, the Middle East, and Africa, including trial operations in Thailand and Qatar [11][12][24] Company Strategy and Development Direction - The company is focused on operations-driven sales, optimizing delivery pace, and supporting existing customers to establish sustainable commercial operations [4][5] - A strategic partnership with the Hefei government aims to establish a VT35 product hub, with comprehensive support totaling RMB 500 million [8] - The company is diversifying its product portfolio to include unmanned business applications, such as firefighting and logistics, to enhance revenue streams [26][42] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in achieving the full-year revenue guidance of approximately RMB 500 million, supported by steady delivery progress and a strong order backlog [32][33] - The supportive policy environment in China and ongoing regulatory improvements are expected to bolster the low-altitude economy and the company's growth prospects [12][14] - The company aims to leverage its product strength and operational expertise to advance commercial operations and expand its global footprint [15][29] Other Important Information - The company raised $10 million through its at-the-market offering program, which will be used for R&D, production expansion, and general corporate purposes [31] - A new board member, Ms. Hai Ying Li, was appointed to enhance the company's international perspective and strategic decision-making [16] Q&A Session Summary Question: Can management share more about the sandbox initiative and its timeline? - Management confirmed that the sandbox initiative in Thailand has been approved, aiming to officially commence eVTOL commercial operations in the next three months [34][36] Question: What progress is being made in expanding into unmanned product portfolios? - Management stated that both manned and unmanned businesses are critical components of the low-altitude economy, and expanding the product portfolio is essential for increasing revenue [40][42] Question: What is the plan for the VT35's airworthiness application and the gross profit margin outlook? - Management indicated that the VT35's type certificate application is progressing steadily, and they expect the gross profit margin to stabilize around 60% in the long term [44][47]

Driving seamless large- scale data collection and analysis for insights and competitive advantage Investor Presentation – Q3 2025 November 2025 Nasdaq: ALAR TASE: ALAR ©2025 Alarum Technologies Ltd. All Rights Reserved 1 Disclaimer & forward-looking statements This presentation was by prepared Alarum Technologies Ltd. (the "Company" or "Alarum"). This presentation does not constitute an offer to purchase or sell securities of the Company or an invitation to receive such offers, nor does it constitute a reco ...

Financial Data and Key Metrics Changes - Total revenues in Q3 2025 were RMB 27.4 billion, a decrease of 36.2% year over year and 9.5% quarter over quarter [24] - Vehicle sales contributed RMB 25.9 billion, down 37.4% year over year and 10.4% quarter over quarter, primarily due to lower vehicle deliveries [24] - Gross profit was RMB 4.5 billion, down 51.6% year over year and 26.3% quarter over quarter, with a vehicle margin of 15.5% compared to 20.9% in the same period last year [25][26] - Operating expenses were RMB 5.6 billion, down 2.5% year over year and up 7.8% quarter over quarter [27] - Net loss in Q3 was RMB 624.4 million, compared to a net income of RMB 2.8 billion in the same period last year [28] - Cash position remained strong with a balance of RMB 98.9 billion at the end of the quarter [28] Business Line Data and Key Metrics Changes - R&D expenses increased to RMB 3 billion, up 15% year over year, reflecting investments in new vehicle programs and technology [27] - SG&A expenses decreased to RMB 2.8 billion, down 17.6% year over year, mainly due to share-based compensation recognition from the previous year [27] Market Data and Key Metrics Changes - The company expects deliveries in Q4 2025 to be between 100,000 and 110,000 vehicles, with total revenue projected between RMB 26.5 billion and RMB 29.2 billion [29] Company Strategy and Development Direction - The company plans to revert to an entrepreneurial model starting Q4 2025, focusing on long-term product and technology development [11][23] - Key strategic choices include focusing on embodied AI products, which are seen as the future of user interaction with vehicles [15][22] - The company aims to enhance its full-stack AI system, emphasizing the need for a different approach to technology that integrates physical and digital capabilities [16][22] Management's Comments on Operating Environment and Future Outlook - Management acknowledged challenges in supply chain and product lifecycle but emphasized a long-term vision for the next decade [4][23] - The transition from EREV to BEV is seen as a significant opportunity, with expectations for NEV penetration rates in China to reach 55-60% by 2026 [46] - The company is optimistic about achieving a historic breakthrough in deliveries in 2026, leveraging superior product strength and user value [49] Other Important Information - The company is implementing a dual supplier strategy for batteries to address production ramp-up challenges [42] - The recall of the Li Mega was recognized in Q3 due to its impact on operations and deliveries, affecting gross profit margins [54] Q&A Session Summary Question: What technology or product progress can be expected in 2026? - The company will launch an AI system based on the M100 chips, which will enhance user experience by transitioning products from passive to proactive machines [32][33] Question: How is the company preparing for the transition to BEV? - The company is focusing on in-house development of electric drive systems, battery systems, and electronic control to ensure efficiency and user experience [35][36] Question: What updates are there on orders and deliveries of the Li I8 and I6? - The I8 and I6 models are entering core BEV markets with increasing orders, and production capacity for the I6 is expected to reach 20,000 units monthly by early next year [41][42] Question: Why did operating cash flow decrease significantly? - The decrease in operating cash flow was attributed to lower deliveries impacting revenue and a shortened payment cycle to suppliers [43] Question: How will the company respond to changes in subsidy policies in 2026? - The company plans to implement a peace of mind purchase program to cover purchase tax differences for customers and will continue to focus on technological advancements to offset policy impacts [47][48]

Financial Data and Key Metrics Changes - Total revenues in Q3 2025 were RMB 27.4 billion, a decrease of 36.2% year-over-year and 9.5% quarter-over-quarter [24] - Vehicle sales contributed RMB 25.9 billion, down 37.4% year-over-year and 10.4% quarter-over-quarter, primarily due to lower vehicle deliveries [24] - Gross profit was RMB 4.5 billion, down 51.6% year-over-year and 26.3% quarter-over-quarter, with a vehicle margin of 15.5% compared to 20.9% in the same period last year [25][26] - Operating expenses were RMB 5.6 billion, down 2.5% year-over-year and up 7.8% quarter-over-quarter [27] - Net loss in Q3 was RMB 624.4 million, compared to a net income of RMB 2.8 billion in the same period last year [28] - Cash position remained strong with a balance of RMB 98.9 billion at the end of the quarter [28][29] Business Line Data and Key Metrics Changes - R&D expenses increased to RMB 3 billion, up 15% year-over-year, reflecting investments in new vehicle programs and technology [27] - SG&A expenses were RMB 2.8 billion, down 17.6% year-over-year, mainly due to the recognition of share-based compensation expenses from the previous year [27] Market Data and Key Metrics Changes - The company expects deliveries in Q4 2025 to be between 100,000 and 110,000 vehicles, with total revenue projected between RMB 26.5 billion and RMB 29.2 billion [29] Company Strategy and Development Direction - The company plans to revert to an entrepreneurial model to better adapt to a rapidly changing environment and technological challenges [11][23] - Focus will be on developing embodied AI products, which are seen as the future of user interaction with vehicles [15][22] - The strategy includes enhancing user value through innovative product offerings and technology advancements, particularly in electric drive, battery systems, and electronic control [35][36][37] Management's Comments on Operating Environment and Future Outlook - Management acknowledged challenges in supply chain and product lifecycle but emphasized a long-term vision for the next decade [4][23] - The transition from EREV to BEV is seen as a significant opportunity, with expectations for NEV penetration rates to reach 55%-60% in the domestic market by 2026 [46] - The company is optimistic about achieving a historic breakthrough in deliveries in 2026, leveraging superior product strength and user value [49] Other Important Information - The company is implementing a dual supplier strategy for batteries to address production ramp-up challenges [42] - The recall of the Li Mega was recognized in Q3 due to its impact on gross profit margin, with ongoing efforts to fulfill recall requirements [54] Q&A Session Summary Question: What technology or product progress can be expected in 2026? - The company will launch an AI system based on the M100 chips, which will enhance user experience by transitioning products from passive to proactive machines [32][34] Question: How is the company preparing for the transition to BEV? - The company is focusing on in-house development of electric drive systems, battery systems, and electronic control to ensure a smooth transition [35][36][37] Question: What updates are there on orders and deliveries of the Li I8 and I6? - The I8 and I6 models are entering core BEV markets with increasing orders, and production capacity for the I6 is expected to reach 20,000 units monthly by early next year [41][42] Question: Why was there an increase in operating cash outflow? - The increase in cash outflow was attributed to decreased deliveries impacting revenue and a shortened payment cycle to suppliers [43] Question: How will the company respond to changes in subsidy policies in 2026? - The company plans to implement a peace of mind purchase program to cover purchase tax differences and will continue to focus on technological advancements to offset policy impacts [47][48]

Business Highlights - EHang's Q3 2025 saw sales and deliveries of 42 eVTOL aircraft, including 41 EH216 series units and one VT35 unit[12] - The company unveiled VT35 for intercity advanced air mobility with initial delivery[12, 15] - EHang launched Thailand AAM Sandbox Initiative, paving way for commercial operations overseas[12, 24] - The company expanded global footprints in Qatar, Japan, Kazakhstan and Rwanda[12, 29, 30, 31, 32, 33] - VT35 has a fully loaded design range of approximately 200 km, enabling one-hour intercity air mobility[18] - VT35 received purchase orders at a unit price of RMB65 million from customers in Anhui, Zhejiang, and Hainan, and has started delivery in Q3[18] - EHang has conducted over 1,700 safe operational flights by the first two OC operators[19] Financial Performance - Total revenues for Q3 2025 were RMB92472 million, a decrease of 278% year-over-year and 372% quarter-over-quarter[12, 49] - Gross profit for Q3 2025 was RMB56209 million, a decrease of 283% year-over-year and 390% quarter-over-quarter[49] - The company maintained full-year revenue guidance of RMB500 million[12]