： ： ： ESG推進 CP&RMG 富士幸太郎('23.5.15) FFグループ 取 扱 指 定 作 成 / 日 付 開 示 範 囲 Fujifilm Internal Use Only ： ： ： CC-IR('24.4.9) 会議出席者限り 取 扱 指 定 作 成 / 日 付 開 示 範 囲 Fujifilm Internal Use Only 再配布禁止 Semiconductor Materials Business Briefing December 10, 2025 Business performance forecast and future predictions contained in this material are based on currently -available information and reflect potential risks and uncertainty factors. For this reason, actual business performance could be different from such predictions due ...

Financial Data and Key Metrics Changes - In Q3 2025, comparable store sales decreased by 4% year-over-year, with a sequential improvement noted in October, where sales were down approximately 1% [16][17] - Revenue for the quarter was reported at $448 million, with a net loss of $42 million or $1.22 per diluted share, and an adjusted EBITDA of $59 million, resulting in an adjusted EBITDA margin of 13% [17] - Operating cash flow for the quarter was $58 million, ending with $14 million in cash and $442 million in total liquidity [17][18] Business Line Data and Key Metrics Changes - The new food and beverage menu launched in October contributed to positive same-store sales, with October being the best month of the year for food sales [8][9] - The Eat & Play Combo promotion has seen a significant increase in guest attachment, now representing a double-digit percentage of guests [9][10] - Entertainment line also showed improvement, with sequential growth noted throughout the quarter [39] Market Data and Key Metrics Changes - The company opened one domestic D&B store and three new Main Event stores in Q3, with plans for a total of 11 new domestic store openings and one relocation in fiscal 2025 [19] - International franchising is expected to drive efficient growth, with agreements for over 35 additional stores in the coming years [19] Company Strategy and Development Direction - The company is focused on executing its Back-to-Basics plan, which includes enhancing marketing strategies, improving food and beverage offerings, and revamping game selections [4][5] - A new remodel program is underway, with three remodels under construction and plans for six more in the next five months [12][20] - The leadership team has been strengthened with the addition of key executives to enhance capabilities and drive growth [13][14] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the ability to improve operating results and drive value creation for guests and shareholders [4][5] - The company is optimistic about the upcoming game launches and the potential for increased guest engagement and traffic [10][11] - Management highlighted the importance of data-driven marketing strategies to convert brand awareness into customer visits [32] Other Important Information - The company is committed to generating free cash flow while investing in new store growth and high ROI initiatives [18] - Significant opportunities for cost optimization have been identified, with a focus on enhancing internal cost management processes [17] Q&A Session Summary Question: What marketing messages are resonating with consumers? - Management noted that smart value offers, rather than discounts, are resonating well with consumers, leading to increased traction for these messages [23] Question: How are consumers spending in the Midway? - Management reported that guests are spending more time and money in the Midway, with healthy spending trends observed [27][26] Question: Are refinements to the marketing media mix sufficient? - Management indicated that while strong brand awareness exists, a data-driven approach to media investment is crucial for converting awareness into customer visits [31][32] Question: What are the learnings from the remodel prototype? - Management confirmed that remodels are still showing a positive impact of approximately 700 basis points, emphasizing the importance of refreshing assets to enhance guest experience [34] Question: How did entertainment comps perform throughout the quarter? - Management confirmed that there was sequential improvement in the entertainment line, with expectations for continued growth [39] Question: How did the walk-in versus corporate events business perform? - Special events showed mid-single-digit growth year-over-year, with positive expectations for the holiday season [46]

Financial Data and Key Metrics Changes - Total revenue for Q1 2026 was $797.2 million, down 5.7% from the prior year quarter [23] - Adjusted EBITDA was $7.2 million, or 0.9% of total revenue, compared to $45.8 million, or 5.4% of total revenue in the prior year [27] - GAAP earnings per diluted share were -$1.10, and adjusted earnings per diluted share were -$0.74 [27] Business Line Data and Key Metrics Changes - Restaurant revenue decreased 4.8% to $650.6 million, with comparable store restaurant sales down 4.7% [23] - Total retail revenue decreased 9.4% to $146.6 million, with comparable store retail sales down 8.5% [23] - Off-premise sales accounted for 18.1% of restaurant sales [23] Market Data and Key Metrics Changes - Traffic declined approximately 11% in the quarter, with a consistent trend between -10% and -11% over the last couple of months [28][62] - The company noted a decline in consumer sentiment and overall industry traffic compared to the summer [52] Company Strategy and Development Direction - The company is focusing on improving food quality and guest experience, with a multi-pronged plan to connect with guests through menu, messaging, and loyalty programs [11][12] - A restructuring of the corporate support center is underway to streamline operations and reduce costs, aiming for annualized G&A savings of approximately $20 million-$25 million [30] - The company is committed to maintaining food quality while pursuing cost savings and operational efficiency [20][21] Management's Comments on Operating Environment and Future Outlook - Management acknowledged a difficult macro and industry backdrop, with plans to regain trust and confidence from guests [5][6] - The outlook for fiscal 2026 anticipates total revenue of $3.2 billion to $3.3 billion, reflecting a slower recovery than previously expected [29] - Management emphasized the importance of delivering consistent quality and hospitality to drive traffic recovery [34][68] Other Important Information - The company has launched several promotional initiatives, including a military discount and a toy promotion for kids' meals, to drive traffic [15][17] - The Cracker Barrel Rewards Loyalty Program has grown to over 10 million members, accounting for 40% of tracked sales [18] Q&A Session Summary Question: Advertising Spend Reduction - Management explained that the reduction in advertising spend is to align with current traffic levels and reduce non-guest-facing costs, with a planned decrease of $12 million-$16 million in advertising expenses for Q2 to Q4 [37][38] Question: Holiday Season Plans - Management confirmed that they are actively working to drive traffic during the holiday season with promotions and menu items that resonate with guests [41][45] Question: Updated Traffic Guidance - Management indicated that the updated traffic guidance for the year includes expectations of a decline of 8% to 10%, with potential recovery in the back half of the year [50][51] Question: Macro Pressures Impact - Management noted that consumer sentiment has softened and overall industry traffic has decreased, but performance across income cohorts has remained relatively stable [52][53] Question: Challenges with Operations Initiative - Management acknowledged challenges with the rollout of the operations initiative, which impacted food consistency and guest experience, leading to a rollback of certain changes [54][55] Question: Menu Innovation and Future Offerings - Management expressed confidence in upcoming menu innovations and the return of popular items, emphasizing a focus on guest feedback and maintaining quality [66][75]

Financial Data and Key Metrics Changes - In Q3 2025, the company reported revenue of $448 million, a net loss of $42 million, or $1.22 per diluted share, and an adjusted net loss of $39 million, or $1.14 per diluted share [16] - Adjusted EBITDA was $59 million, resulting in an adjusted EBITDA margin of 13% [16] - Comparable store sales decreased by 4% year-over-year, with a sequential improvement noted in October, where sales were down approximately 1% [15][16] Business Line Data and Key Metrics Changes - The company saw positive same-store sales for food and beverage during the quarter, with October being the best month of the year for same-store food sales [8][16] - The Eat & Play Combo promotion has shown significant traction, with guest attachment improving to a double-digit percentage since the beginning of the year [9] Market Data and Key Metrics Changes - The company opened one domestic D&B store and three new domestic Main Event stores in Q3, bringing the total new store openings year-to-date to nine [18] - The company expects to open four more international franchise locations over the next six months, with agreements secured for over 35 additional stores in the coming years [18] Company Strategy and Development Direction - The company is focused on a "back-to-basics" plan, which includes enhancing marketing strategies, improving food and beverage offerings, and revamping game offerings [4][5] - A new remodel program is underway, with three remodels under construction and plans for six new remodels in the next five months [12][19] - The leadership team has been strengthened with the addition of key executives to enhance capabilities and drive growth [13] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the ability to improve operating results and drive value creation for guests and shareholders [4] - The company is optimistic about the upcoming 2026 game lineup, which is expected to resonate well with customers [10][11] - Management noted that they are seeing healthy spending and increased time spent by guests in the Midway [25] Other Important Information - The company generated $58 million in operating cash flow during Q3 and ended the quarter with $14 million in cash and $442 million in total liquidity [16][17] - The company is committed to generating free cash flow while investing in new store growth and high ROI initiatives [17] Q&A Session Summary Question: What marketing messages are resonating with consumers? - Management noted that smart value offers, rather than discounts, are resonating well with consumers, leading to increased traction for their value messaging [21] Question: How are consumers spending in the Midway? - Management indicated that guests are spending more and spending more time in the Midway, reflecting healthy consumer engagement [25] Question: Are refinements to the marketing media mix sufficient to change consumer perception? - Management acknowledged strong brand awareness and emphasized the need for data-driven media planning to convert reach into real customers [30] Question: What are the learnings from the remodel prototype? - Management confirmed that remodels are still showing a positive impact of approximately 700 basis points and emphasized the importance of investing in areas that directly enhance guest experience [32] Question: How did entertainment comps perform throughout the quarter? - Management reported sequential improvement in entertainment comps, indicating a positive trend moving forward [36]

Financial Data and Key Metrics Changes - Net sales for Q2 were $57.2 million, a decrease of 5% compared to $60.2 million in Q2 last year [17] - Gross margin was 45.6%, down from 48% in Q2 last year, with actions taken to clear slow-moving inventory impacting margins [18][19] - GAAP EPS for Q2 was $0.16 compared to $0.24 last year, while non-GAAP EPS was $0.29 compared to $0.37 last year [19] Business Line Data and Key Metrics Changes - In the outdoor lifestyle category, net sales were $34.6 million, down 5% year-over-year, primarily due to a decrease in meat processing equipment [17] - The shooting sports category saw a 5.1% decline in net sales, driven by decreases in gun cleaning and personal protection products, partially offset by strong sales in the Caldwell brand [17] - Traditional channel net sales increased by 2.3%, while e-commerce net sales decreased by 15.9% compared to last year [18] Market Data and Key Metrics Changes - Domestic net sales, which accounted for approximately 95% of revenue, decreased by $2.4 million, or 4.3%, while international net sales decreased by roughly $600,000 compared to Q2 of last year [18] - Point-of-sale (POS) for November grew approximately 13%, indicating strong performance in the outdoor lifestyle category [13] Company Strategy and Development Direction - The company is focused on innovation and entering new outdoor product categories, which is driving the strength of its Growth Brands [5] - The innovation pipeline has generated nearly $100 million in incremental annual new product revenue over the past five years, with new products driving over 31% of net sales [10][12] - The company is committed to reducing inventory levels over time to improve working capital [23] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about the performance in the second half of the year, despite caution regarding evolving consumer spending patterns and retail order volatility [14][26] - The company expects full fiscal year net sales to decline roughly 13%-14% year-over-year, but underlying net sales decline would be approximately 5% when adjusting for accelerated orders from the prior year [26] - Management believes that the full-year benefit of tariff mitigation actions will provide a clear path to improve profitability in fiscal 2027 [30] Other Important Information - The company ended the quarter with $3.1 million in cash and no debt, maintaining a strong balance sheet [20] - A new $10 million share repurchase program was approved, effective October 2025 through September 2026 [24] Q&A Session Summary Question: Visibility into revenue at POS and brand performance - Management indicated visibility into approximately 60% of revenue through POS, with outdoor lifestyle performing well and Caldwell brand significantly outperforming others [33][34] Question: Disconnect between November performance and quarterly guidance - Management noted that while POS is strong, retailers are managing lower inventory levels and adjusting orders based on available capital [35][37] Question: Mitigating softness in the e-commerce channel - Management highlighted the evolution of sales channels and the need to adapt to changes in consumer behavior and retailer strategies [39][40] Question: Seasonality and margin expectations - Management confirmed that Q2 and Q3 are typically the highest sales quarters, with expected gross margins in the range of 42%-43% for the full fiscal year [42][43] Question: Tariff mitigation and its impact on P&L - Management confirmed that tariff costs are capitalized in inventory and will start to amortize in December, with full mitigation expected by fiscal 2027 [51][52] Question: Insights on Black Friday performance - Management reported strong POS results during Black Friday and November, particularly in direct-to-consumer sales [62][63] Question: New product pipeline and market entry - Management expressed excitement about the innovation pipeline and plans to build on existing ecosystems within brands [66][68] Question: M&A landscape updates - Management noted a more favorable M&A environment with potential opportunities emerging, particularly among family-owned businesses [70]

Financial Data and Key Metrics Changes - Total revenue for Q1 2026 was $797.2 million, down 5.7% from the prior year quarter [23] - Adjusted EBITDA was $7.2 million, or 0.9% of total revenue, compared to $45.8 million, or 5.4% of total revenue in the prior year [27] - GAAP earnings per diluted share were negative $1.10, and adjusted earnings per diluted share were negative $0.74 [27] Business Line Data and Key Metrics Changes - Restaurant revenue decreased 4.8% to $650.6 million, with comparable store restaurant sales down 4.7% [23] - Total retail revenue decreased 9.4% to $146.6 million, with comparable store retail sales down 8.5% [23] - Off-premise sales accounted for 18.1% of restaurant sales [23] Market Data and Key Metrics Changes - Traffic declined approximately 11% in Q2, with a consistent trend of negative 10% to negative 11% over the last couple of months [28][62] - The company noted a decline in consumer sentiment and softer labor numbers compared to previous months [52] Company Strategy and Development Direction - The company is focusing on improving food quality and guest experience, with operational changes and menu adjustments [5][8] - A restructuring of the corporate support center is underway to streamline operations and reduce costs [20] - The company is implementing cost-saving measures while ensuring food quality and guest experience are not compromised [20] Management's Comments on Operating Environment and Future Outlook - Management acknowledged a difficult macro and industry backdrop affecting performance, with plans to regain trust and confidence from guests [5][21] - The outlook for fiscal 2026 anticipates total revenue of $3.2-$3.3 billion, reflecting a slower recovery than previously expected [29] - Adjusted EBITDA for the full year is projected to be approximately $70 million-$110 million, depending on traffic recovery [31] Other Important Information - The company has launched several promotional initiatives to drive traffic, including a military discount and holiday promotions [15][16] - The Cracker Barrel Rewards Loyalty Program has grown to over 10 million members, accounting for 40% of tracked sales [18] Q&A Session Summary Question: Advertising spend reduction rationale - Management explained that the reduction in advertising spend is to align with current traffic levels and reduce non-guest-facing costs, with a planned decrease of $12-$16 million in advertising expenses for Q2 to Q4 [37][38] Question: Incremental plans for the holiday season - Management emphasized a commitment to driving traffic through great in-store experiences and promotions, including a toy promotion that integrates restaurant and retail [41][45] Question: Updated traffic guidance for the year - Management confirmed that the updated traffic guidance reflects a decline of approximately 8%-10%, with the potential for recovery in the second half of the year [50][51] Question: Impact of operational initiative challenges - Management acknowledged that challenges in rolling out operational initiatives did impact same-store sales and traffic, leading to a decision to revert to prior processes [54][55] Question: Disaggregating macro pressures on sales - Management indicated that while macro pressures are evident, the brand's recovery efforts and promotional initiatives are also influencing traffic trends [62][63]

Financial Data and Key Metrics Changes - In Q3 2025, comparable store sales decreased by 4% year-over-year, with a notable improvement in the final month of October, where sales were down only approximately 1% [14][15] - Revenue for the third quarter was reported at $448 million, with a net loss of $42 million, translating to a loss of $1.22 per diluted share, and an adjusted EBITDA of $59 million, resulting in an adjusted EBITDA margin of 13% [15][16] - Operating cash flow for the quarter was $58 million, ending with $14 million in cash and $442 million in total liquidity [15][16] Business Line Data and Key Metrics Changes - The new food and beverage menu launched in October contributed to positive same-store sales, with October being the best month of the year for food sales [7][8] - The Eat & Play Combo promotion has seen a significant increase in guest attachment, now representing a double-digit percentage of guests since the beginning of the year [8][9] - The entertainment segment also showed improvement, with sequential growth noted throughout the quarter [33] Market Data and Key Metrics Changes - The company opened one domestic D&B store and three new domestic Main Event stores in Q3, bringing the total new store openings year-to-date to nine [17] - The company expects to open four more international franchise locations over the next six months, with agreements secured for over 35 additional stores in the coming years [17] Company Strategy and Development Direction - The company is focused on executing its Back-to-Basics plan, which includes enhancing marketing strategies, improving food and beverage offerings, and revamping game selections [4][5] - A new remodel program is underway, with three remodels under construction and plans for six new remodels in the next five months [11][18] - The leadership team has been strengthened with the addition of key executives, enhancing the company's capabilities for growth [12] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the ability to improve operating results and drive value creation for guests and shareholders [5][14] - The company anticipates continued improvement in same-store sales and cash flow, positioning itself for sustained growth [44] Other Important Information - The company is committed to generating free cash flow while investing in new store growth and high ROI initiatives [16] - A comprehensive initiative to identify efficiencies across the business is underway, aimed at optimizing the cost structure [15] Q&A Session Summary Question: What marketing messages have resonated with consumers? - Management noted that smart value offers, rather than discounts, have been effective, with combo offers appealing to guests [20][21] Question: How are consumers spending in the Midway? - There has been an increase in both spending and time spent in the Midway, with positive trends observed [24][23] Question: Are refinements to the marketing media mix sufficient? - Management emphasized the importance of data-driven media planning and the need for investment in converting reach into real customers [26][27] Question: What are the learnings from the remodel prototype? - The company continues to see a positive impact from remodels, with a focus on capital investment that directly enhances guest experience [28][29] Question: How did the special events business perform in Q3? - Special events experienced mid-single-digit growth year-over-year, with expectations for continued growth in Q4 [40][41]

AMPOL LIMITED ACN 004 201 307 29-33 BOURKE ROAD ALEXANDRIA NSW 2015 ASX Release For personal use only US Roadshow 2025 Presentation Wednesday 10 December 2025 (Sydney): Ampol Limited provides the attached presentation as circulated to US Investor Roadshow participants ahead of scheduled meetings between 15 – 18 December 2025. Authorised for release by: the Disclosure Officers of Ampol Limited INVESTOR CONTACT Fran van Reyk GM Investor Relations and Sustainability +61 419 871 138 frances.vanreyk@ampol.com.au ...

Financial Data and Key Metrics Changes - Total revenue for Q1 2026 was $797.2 million, down 5.7% from the prior year quarter [23] - Adjusted EBITDA was $7.2 million, or 0.9% of total revenue, compared to $45.8 million, or 5.4% of total revenue in the prior year [27] - GAAP earnings per diluted share were negative $1.10, and adjusted earnings per diluted share were negative $0.74 [27] Business Line Data and Key Metrics Changes - Restaurant revenue decreased 4.8% to $650.6 million, with comparable store restaurant sales down 4.7% [23] - Total retail revenue decreased 9.4% to $146.6 million, with comparable store retail sales down 8.5% [23] - Off-premise sales accounted for 18.1% of restaurant sales [23] Market Data and Key Metrics Changes - Traffic was down approximately 11% in Q2, with a decline of 7.3% in comparable store traffic for Q1 [28][23] - The company noted a decline in consumer sentiment and overall industry traffic compared to the summer months [46] Company Strategy and Development Direction - The company is focusing on improving food quality and guest experience through operational changes and menu adjustments [5][10] - A restructuring of the corporate support center is underway to streamline operations and reduce costs [20][31] - The company plans to leverage its loyalty program, which has over 10 million members, to drive traffic and enhance guest engagement [19] Management's Comments on Operating Environment and Future Outlook - Management acknowledged a challenging macro and industry backdrop, impacting traffic and sales [5][46] - The company anticipates total revenue for fiscal 2026 to be between $3.2 billion and $3.3 billion, reflecting a slower recovery than previously expected [30] - Management expressed confidence in returning to growth over time and creating long-term value for stakeholders [34] Other Important Information - The company has implemented a military discount program and various promotional offers to drive traffic [16][18] - The company is focusing on cost savings while ensuring food quality and guest experience are not compromised [20][31] Q&A Session Summary Question: About the cut in advertising spend - Management explained that the reduction in advertising spend is to align with current traffic levels and reduce non-guest-facing costs, with a planned decrease of $12-$16 million in advertising expenses for Q2 to Q4 [36][38] Question: Plans for the December holiday window - Management emphasized a commitment to regaining traffic momentum and highlighted ongoing efforts to enhance guest experiences and brand trust [39][40] Question: Updated guidance for traffic for the year - Management confirmed that the updated traffic guidance reflects a decline of 8% to 10%, with the potential for recovery in the latter half of the year [45] Question: Macro pressures on sales versus rebranding effects - Management noted that while macro pressures are impacting sales, some initiatives have provided short-term traffic boosts, but sustainability remains a concern [50][51] Question: Menu innovation and upcoming offerings - Management expressed confidence in upcoming menu innovations and the return of popular items, aiming to enhance guest experiences and drive traffic [56][60]

Financial Data and Key Metrics Changes - Net sales for Q2 were $57.2 million, a decrease of 5% compared to $60.2 million in Q2 last year [16] - Gross margin was 45.6%, down from 48% in Q2 last year, primarily due to actions taken to clear slow-moving inventory [18] - GAAP EPS for Q2 was $0.16 compared to $0.24 last year, while non-GAAP EPS was $0.29 compared to $0.37 last year [18] Business Line Data and Key Metrics Changes - In the outdoor lifestyle category, net sales were $34.6 million, down 5% year-over-year, mainly due to a decrease in meat processing equipment [16] - The shooting sports category saw a 5.1% decline in net sales, driven by decreases in gun cleaning and personal protection products, partially offset by strong sales in the Caldwell brand [16] - Traditional channel net sales increased by 2.3%, while e-commerce net sales decreased by 15.9% compared to last year [17] Market Data and Key Metrics Changes - Domestic net sales, which accounted for approximately 95% of revenue, decreased by $2.4 million, or 4.3%, while international net sales decreased by roughly $600,000 compared to Q2 of last year [19] - The company noted that online-only customers now represent just 20%-25% of total net sales, indicating a shift in consumer purchasing behavior [8] Company Strategy and Development Direction - The company is focused on innovation and expanding into new outdoor product categories, which is driving the strength of its Growth Brands [5] - A major mass-market retailer is introducing Caldwell and BOG brands into thousands of stores, enhancing visibility and consumer engagement [10] - The company aims to reduce inventory levels over time to improve working capital, targeting a decrease to roughly $115 million by the end of the fiscal year [22] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about the second half of the year but remains cautious about the macro environment and evolving consumer spending patterns [13] - The company expects net sales for the full fiscal year to decline approximately 13%-14% year-over-year, but underlying net sales decline would be roughly just 5% when adjusting for accelerated orders from the prior year [25] - Management believes that the full year could deliver net sales that are down roughly 8% year-over-year in Q3, reflecting macro challenges and retailer dynamics [26] Other Important Information - The company ended the quarter with $3.1 million in cash and no debt, maintaining a strong balance sheet [19] - A new $10 million share repurchase program was approved, with approximately 74,000 shares repurchased at an average price of $8.76 per share [23] Q&A Session Summary Question: Visibility into revenue at POS and brand performance - Management indicated that they have visibility into about 60% of revenue through POS data, with outdoor lifestyle performing well and Caldwell brand significantly outperforming others [32] Question: Disconnect between November performance and Q3 guidance - Management explained that while POS is strong, retailers are managing lower inventory levels and adjusting their purchasing patterns based on available capital [34] Question: Mitigating softness in the e-commerce channel - Management noted that the evolution of consumer behavior and the growth of omnichannel sales are expected to reduce volatility in the e-commerce channel over time [36] Question: Seasonality and margin expectations - Management confirmed that Q2 and Q3 are typically the highest sales quarters, with expected gross margins in the range of 42%-43% for the full fiscal year [37] Question: Tariff mitigation and its impact on P&L - Management clarified that tariff costs are capitalized in inventory and will start to amortize in December, with mitigation efforts expected to offset tariff impacts by FY27 [39] Question: Insights on Black Friday performance - Management reported strong POS results during Black Friday and November, particularly in the direct-to-consumer segment [44] Question: New product pipeline and market entry - Management expressed excitement about the innovation pipeline, focusing on building ecosystems around existing brands and entering new markets [46] Question: M&A landscape updates - Management noted an increase in M&A opportunities, particularly among family-owned businesses looking to divest, and expressed optimism about potential larger assets surfacing in the near future [49]