Company Overview and Strategy - Azenta is uniquely positioned for strong top-line growth, margin expansion, and inorganic growth opportunities[15] - The company estimates a current serviceable addressable market (SAM) of approximately $6 billion across SMS and Multiomics[18] - Azenta's FY25 revenue was $594 million, with approximately 55% recurring revenue and 3% organic year-over-year growth[26] Sample Management Solutions (SMS) - SMS FY'25 revenue was approximately $325 million, with approximately 50% recurring revenue[85] - The SMS business has experienced a 15%+ CAGR in sample storage growth from FY'15 to FY'25[85] - The company estimates SMS has approximately 11% market share of a $3 billion serviceable addressable market[18, 88] Multiomics (GENEWIZ) - Multiomics (GENEWIZ) FY'25 revenue was approximately $269 million, with over 70% of revenue from returning customers[132] - The company estimates Multiomics has approximately 9% market share of a $3 billion serviceable addressable market[18, 137] - GENEWIZ has sequenced 15 petabytes (PB) of data and synthesized 425 million nucleotides[128] Financial Targets and Capital Allocation - The company is targeting cumulative free cash flow generation of $200 million - $250 million from FY2026 to FY2028[172] - Azenta has a $250 million share repurchase authorization[61] - The company is introducing 2028 organic financial targets including $700 million - $750 million in revenue, 6% - 8% CAGR, 70% recurring revenue, $120 million - $150 million adjusted EBITDA, and 18% - 20% adjusted EBITDA margin[186]

Investor Day December 10, 2025 Forward-looking Statements This presentation and statements by our management may constitute "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements are statements that include, without limitation, statements regarding our strategic initiatives, priorities, plans and vision; our acquisition of Sandy Spring Bancorp, Inc. ("Sandy Spring") and expectations with regard to the benefits of the Sandy Spring a ...

NASDAQ: DAKT DYNAMIC MESSAGE SIGNS Fiscal Second Quarter 2026 Results Call December 10, 2025 CONTROL SYSTEMS SAFE HARBOR STATEMENT Forward-Looking Statements: In addition to statements of historical fact, this presentation contains forward-looking statements within the meaning of the federal securities laws and is intended to receive the protections of such laws. All statements, other than historical facts, included or incorporated in this release could be deemed forward-looking statements, particularly sta ...

Business Strategy and Portfolio Repositioning - Vermilion Energy is focused on growing excess free cash flow (EFCF) by allocating capital to global gas assets, with approximately 85% of the 2026-2030 exploration & development (E&D) capital expenditures planned for these assets[6] - The company is repositioning its portfolio towards global gas assets, expecting a greater than 40% increase in production (mboe/d) and a greater than 30% decrease in cost structure and capex/flowing boe from 2024 to 2026e[44] - Vermilion aims to increase production per share by approximately 40% over five years, driven by an 8-10% annual production per share growth rate[50] Asset Performance and Outlook - The company anticipates cumulative EFCF of approximately $1.7 billion over the next five years, with annual capital expenditures between $600-630 million[50] - Vermilion's European gas assets are expected to grow organically by approximately 5,000 boe/d from 2026 to 2030, offsetting a decline of approximately 2,000 boe/d in Ireland[124] - The Montney asset is projected to reach a target production rate of 28,000 boe/d in 2028, transitioning to EFCF generation with approximately 8 wells per year to maintain production[156, 158] Financial Position and Capital Allocation - Vermilion plans a quarterly dividend of $0.135/share in 2026[8] - The company is committed to reducing net debt to FFO ratio to less than 10x, allocating 60% of EFCF to debt repayment[233, 239] - Vermilion has $11 billion of undrawn credit capacity on its revolving credit facility[205]

Financial Highlights - The company has a strong balance sheet with $698 million in cash, inventory, and equities as of October 31, 2025[12] - The company holds 136 million pounds of U₃O₈ in inventory[16] - A $234 million equity offering was completed to accelerate the advancement of UR&C[16, 17] Production and Operations - Total cost per pound was $3435, including a cash cost per pound of $2990 and a non-cash cost per pound of $445 on 68,612 pounds of precipitated uranium and dried and drummed U₃O₈[9] - Approximately 199,000 pounds of precipitated uranium and dried and drummed U₃O₈ have been produced from Christensen Ranch as of October 31, 2025[25] - The company plans to expand its U S warehoused inventory by another 300,000 pounds through December 2025 via purchase contracts at $3705/lb[12] Development and Expansion - Irigaray plant upgrades have been completed to support 24/7 operations[9] - Six additional header houses are under construction at Christensen Ranch[9] - Burke Hollow nears operational status, setting the stage for initial operations at America's next ISR mine[9] - The Ludeman satellite project has 97 million lbs Measured and Indicated Resources, and 13 Million lbs Inferred resources[28] Strategic Initiatives - The company launched United States Uranium Refining & Conversion Corp (UR&C) to become the only vertically integrated U S company from U3O8 to UF6[9, 17]

Azetukalner Efficacy and Safety - Azetukalner demonstrated a 90.9% median percent change (MPC) reduction in monthly focal onset seizure (FOS) frequency after 48 months in the open-label extension (OLE) [92] - A subset of patients receiving 1-2 anti-seizure medications (ASMs) at double-blind period (DBP) baseline experienced a 100% monthly reduction in FOS frequency [92] - 38% of patients treated with azetukalner for at least 48 months achieved seizure freedom for one year or longer [92] - Azetukalner's safety and tolerability profile in the OLE remained consistent with the DBP [92, 73] - In the Phase 2b X-TOLE study, azetukalner showed statistically significant and dose-dependent seizure reduction, with up to a 52.8% median percent change from baseline [34] Commercial Opportunity and Market Insights - Xenon Pharmaceuticals has $555.3 million in cash, cash equivalents, and marketable securities as of September 30, 2025, with anticipated cash runway into 2027 [18] - An estimated 2.6 million adults in EU4 + UK, 3.0 million in Japan, and 0.8 million in the U.S have diagnosed epilepsy [95] - Focal onset seizures (FOS) represent the largest segment of the epilepsy population [95] - Up to 50% of epilepsy patients may require additional treatment options, presenting a significant commercial opportunity [102, 97] Clinical and Patient Burden - Depression is a significant burden for patients with FOS, highlighting the need for therapeutics that do not exacerbate mood disorders [92, 79] - Titration of anti-seizure medications (ASMs) poses a significant burden for both patients and healthcare professionals (HCPs), underscoring the need for simplified or no-titration ASMs [92, 87]

Fiscal Year 2025 Highlights - REV Group returned $120.5 million cash to shareholders in Fiscal Year 2025[7, 30] - The company achieved record consolidated free cash flow[7, 30] - Fire & ambulance throughput & efficiency gains were realized[7, 25] - REV Group continues to invest in its facilities[7, 30] - Consolidated adjusted EBITDA margin expansion was achieved[7] - A strategic merger with Terex Corporation was announced[7] Fiscal Year 2025 Consolidated Results - Net sales were $2,464 million, compared to $2,380 million in FY'24[9], excluding Bus Manufacturing Businesses, net sales were $2,217 million[9] - Adjusted EBITDA was $229.5 million, compared to $162.8 million in FY'24[10], excluding Bus Manufacturing Businesses, adjusted EBITDA was $145.2 million with a margin of 6.5%[10] Fourth Quarter Fiscal 2025 Consolidated Results - Net sales were $664.4 million, compared to $597.9 million in Q4'24[16], excluding Bus Manufacturing Businesses, net sales were $588.1 million[16] - Adjusted EBITDA was $69.7 million, compared to $49.6 million in Q4'24[17], excluding Bus Manufacturing Businesses, adjusted EBITDA was $49.9 million with a margin of 8.5%[17] Fourth Quarter Fiscal 2025 Specialty Vehicles Results - Net sales were $507.4 million, compared to $439.9 million in Q4'24[23], excluding Bus Manufacturing Businesses, net sales were $430.1 million[23] - Adjusted EBITDA was $70.5 million, compared to $50.2 million in Q4'24[23], excluding Bus Manufacturing Businesses, adjusted EBITDA was $50.5 million with a margin of 11.7%[23] - The backlog is $4.4 billion, reflecting solid order revenue for fire apparatus and ambulances[24] Fourth Quarter Fiscal 2025 Recreational Vehicles Results - Net sales were $157.2 million, compared to $158.1 million in Q4'24[27] - Adjusted EBITDA was $9.0 million, compared to $8.1 million in Q4'24[27]

Financial Performance & Production - TRX Gold achieved record quarterly gold production of 6,404 oz and sales of 6,977 oz in Q4 2025, a 37% increase over Q3 2025[15] - Fiscal Year 2025 gold production was 18,935 oz[14,16,18] - Fiscal Year 2025 revenue reached $57.6 million[14,18,19] - Adjusted EBITDA for Fiscal Year 2025 was $22.0 million, with a 38.2% margin[14,18,19] Growth & Expansion - The company is expanding the Buckreef Gold Project, targeting an average of 62,000 oz Au per year over 17.6 years through underground expansion[13,30] - A Preliminary Economic Assessment (PEA) projects a pre-tax NPV 5% of $1.9 billion and a post-tax NPV 5% of $1.2 billion at $4,000/oz Au[13,30] - Growth capital of $89 million is planned over the next 4 years for expansion[13,30] - The company is commencing build-out of a larger processing facility than contemplated in the PEA, funded from internal cash flow over the next 18–24 months[16] Resources & Exploration - The Buckreef Gold Project has Measured & Indicated Resources of 893,000 oz Au at 2.57 g/t Au and Inferred Resources of 726,000 oz Au at 2.47 g/t Au[13,35,67] - Exploration upside includes the Stamford Bridge Zone, with drill results including 37 m @ 6.86 g/t Au from 130 m[30,55,56]

TRiM BBB Platform Overview - The TRiM BBB platform facilitates subcutaneous administration for delivering siRNA to the central nervous system by crossing the blood-brain barrier[20] - The platform utilizes a TfR-targeting ligand conjugated to siRNA through a stable, non-reversible covalent linkage, ensuring stability in circulation[20] - The conjugation process is economical, using equimolar amounts of ligand and oligo, achieving a 75-80% yield consistently[26] - Cryo-EM structure shows the TRiM BBB ligand binds to the apical domain of TfR1 without interfering with endogenous Tf binding[28] Efficacy and Target Engagement - In transgenic mice expressing human Transferrin receptor, siRNA quantitation shows over 50x difference between Tg and control group, demonstrating BBB crossing[31] - Two doses of 1.5 mpk achieved ≥75% knockdown across CNS regions in mice, including deep brain[39] - In NHP, therapeutically relevant siRNA accumulation in the brain was achieved, with 0.5-1.5 µg/g across the brain on day 29[42] - ARO-MAPT achieved 70-80% MAPT mRNA reduction across all brain regions in NHP at 3 x 3 mpk, including brain stem and deep brain, with up to 85% knockdown in some cortex regions[53] Durability and Dosing - ARO-MAPT maintains ≥50% knockdown over 3 months in CNS regions in NHP, including deep brain[63] - Tau protein reduction was maintained at 50-60% up to 5 months with single 3 mpk monthly dose in NHP[67] - PK/PD modeling projects quarterly dosing of ARO-MAPT to maintain 50-70% knockdown[70]

Financial Performance & Targets - FY25 Net Sales were approximately $32 billion[21], with Natural, Conventional, and Retail segments contributing 49%, 44%, and 7% respectively[21] - FY25 Adjusted EBITDA was approximately $552 million[21], resulting in a 1.7% Adjusted EBITDA Margin Rate[21] - The company aims for Low-Single Digit (LSD) Average Annual Net Sales Growth and Low-Double Digit (LDD) Average Annual Adjusted EBITDA Growth through FY28[13] - The company targets approximately $33 billion in Net Sales and approximately $800 million in Adjusted EBITDA by FY28[34] - The company projects approximately $300 million in annual Free Cash Flow through FY28[13] - The company aims to increase the Adjusted EBITDA Margin Rate to approximately 2.4% by FY28, a +65 bps increase[34] Operational Improvements & Strategy - The company reduced its net leverage ratio from 4x to 3.3x in FY25[31] - The company is implementing Lean practices across the business to improve effectiveness and efficiency[31] - The company is focused on adding value for customers and suppliers while improving effectiveness and efficiency[25] - The company is working to improve throughput in distribution centers, projecting a >13% increase from FY24 to FY26E[223]