Financial Data and Key Metrics Changes - Revenue decreased by 3% sequentially to $3.4 billion, with the Illumina segment's third-party revenue down 8% due to lower average realized prices and shipments [11] - Net income attributable to Alcoa was $548 million, up from $202 million in the prior quarter, with earnings per share more than doubling to $2.07 [12] - Adjusted EBITDA increased by $178 million to $855 million, driven by higher aluminum prices and lower intersegment profit elimination [13] Business Line Data and Key Metrics Changes - In the Illumina segment, revenue decreased due to lower prices and shipments, while the aluminum segment's revenue remained flat despite an increase in average realized prices [11] - Adjusted EBITDA for the alumina segment decreased by $52 million due to lower prices and volume, while the aluminum segment's adjusted EBITDA decreased by $60 million due to higher costs [14] Market Data and Key Metrics Changes - The LME aluminum price showed resilience despite a general decrease, with the Midwest premium increasing but not reaching expected levels [40][41] - Alumina prices declined in the first quarter due to increased liquidity and production normalization, with over 80% of Chinese refineries reportedly unprofitable [38][39] Company Strategy and Development Direction - The company aims to maintain a strong balance sheet and focus on operational excellence, with a commitment to safety and continuous improvement [7][10] - Alcoa is engaging with U.S. and Canadian governments to advocate for favorable trade policies and is focused on restarting the San Ciprian smelter under a joint venture [45][30] Management's Comments on Operating Environment and Future Outlook - Management highlighted the uncertainty surrounding U.S. tariffs and their impact on operations, particularly the 25% tariff on Canadian aluminum [32][30] - The outlook for the second quarter includes expectations of unfavorable performance in the aluminum segment due to tariff costs and operating expenses related to the San Ciprian smelter restart [25][26] Other Important Information - The company completed a $1 billion debt offering to refinance existing debt, which is expected to lower interest expenses [10] - Cash flow activities showed a strong cash balance of $1.2 billion at the end of the first quarter, despite high working capital consumption typical for this period [15][16] Q&A Session Summary Question: Clarification on tariff impacts - Management clarified that the $100 million negative impact from tariffs considers higher Midwest premiums and the overall cost of Canadian tariffs, while the $105 million figure is a quarterly estimate based on current pricing assumptions [54][55] Question: Engagement with government on tariffs - Management confirmed ongoing engagement with U.S. and Canadian governments, emphasizing the need for economic upstream aluminum production to support downstream jobs [63][64] Question: San Ciprian smelter restart and hedging strategy - Management indicated that the smelter losses would be heavier in 2025 due to restart inefficiencies, with hedging strategies in place to manage costs [76][78] Question: Impact of lower oil and input prices - Management noted that while some input prices are increasing, productivity initiatives are expected to offset these costs [89] Question: Working capital expectations - Management expects a significant drop in working capital throughout the year, particularly in the second quarter, as high pricing normalizes [93] Question: Future of aluminum production in China - Management expressed confidence that the Chinese industry would react quickly to economic pressures, potentially leading to curtailments in output [85] Question: Trade actions in the EU - Management stated that there is too much uncertainty regarding potential EU trade actions to speculate on impacts at this time [137]

Financial Data and Key Metrics Changes - The company reported strong financial results for Q1 2025, with natural gas demand growing by 6.8 billion cubic feet per day, driven by a 10% increase in residential and commercial demand and a 15% increase in LNG demand [14] - The project backlog increased to $8.8 billion after adding approximately $900 million during the quarter, with over 70% focused on serving power demand [15][16] - The acquisition of the Bakken Gathering and Processing System for $640 million was completed, although it had minimal impact on quarterly results due to a short ownership period [19][20] Business Line Data and Key Metrics Changes - Transport volumes in the natural gas business unit increased by 3% compared to Q1 2024, achieving new peak day volume records [25][26] - The largest project in the backlog, Bridge, is a $430 million extension of the Elba Express pipeline, expected to deliver 325 million cubic feet per day into South Carolina [16] Market Data and Key Metrics Changes - U.S. natural gas demand rose from approximately 60 BCF per day in 2005 to almost 109 BCF per day in 2024, marking an increase of roughly 80% [4] - Future growth in natural gas demand is projected to be between 20 and 28 BCF per day by 2030, primarily driven by increased LNG export demand [5][6] Company Strategy and Development Direction - The company remains bullish on U.S. LNG exports, citing factors such as increased demand from the EU and Asia to offset any potential loss from the Chinese market [9][10] - The company is focused on long-term contracts with creditworthy entities to support its projects, ensuring stable cash flow and a strong balance sheet [21] Management's Comments on Operating Environment and Future Outlook - Management expressed a conservative outlook for 2025 due to uncertainties surrounding tariffs and commodity prices, although they do not expect a material impact from tariffs [19] - The company anticipates that the $7 trillion in new U.S. investments could drive additional demand not currently captured in projections [15] Other Important Information - Management succession plans were discussed, with Tom Martin set to retire in January 2026, and Dax Sanders to succeed him as president [22][23] Q&A Session Summary Question: Impact of tariffs on project economics - Management does not believe tariffs will significantly impact project economics, estimating the impact to be roughly 1% of project costs for new large projects [17][18] Question: Performance of the Bakken Gathering and Processing System acquisition - The acquisition is performing in line with expectations, despite having only been owned for 45 days during the quarter [20]

Financial Data and Key Metrics Changes - Prologis reported a core FFO of $1.42 per share, including net promotes, and $1.43 per share excluding net promotes, both exceeding forecasts [15] - Occupancy at the end of the quarter was 95.2%, a decrease of 70 basis points from year-end, attributed to strong retention [15] - Net effective rent change during the quarter was 54%, with cash basis at 32%, leading to same-store growth of 5.9% and 6.2% respectively [16][17] - The company raised approximately $400 million in new capital for its flagship open-ended funds, with a similar amount in redemptions, resulting in a near-neutral capital raise [20] Business Line Data and Key Metrics Changes - Prologis leased 58 million square feet, nearing record levels, and broke ground on several build-to-suit developments [10] - The data center business saw an increase of 400 megawatts in power capacity, totaling 2 gigawatts in advanced stages [19] - The company started approximately $650 million in new developments, with nearly 80% in built-to-suits averaging 16-year lease terms [17] Market Data and Key Metrics Changes - The operating environment showed a post-election uptick in leasing, with increased proposal volumes and conversions, particularly in transport, food and beverage, consumer products, and electronics [22] - Net absorption for the quarter was 21 million square feet, with global rents declining by 1.5%, primarily in Southern California [88] Company Strategy and Development Direction - Prologis aims to leverage its global footprint and diversified rent roll to navigate market disruptions and capitalize on emerging opportunities [12][14] - The company plans to reduce development start guidance to $1.5 billion to $2 billion, reflecting uncertainty in the capital markets [33] - The strategy emphasizes investing in markets where goods are consumed rather than produced, aligning with long-term growth prospects [14] Management's Comments on Operating Environment and Future Outlook - Management expressed concerns about potential recession and inflation, noting that decision-making among customers is slowing due to tariff uncertainties [11][12] - The company remains confident in its ability to weather economic fluctuations, citing a fortress balance sheet and contractual revenue streams [13] - Management anticipates increased inventory levels as businesses stockpile, with e-commerce expected to gain market share [30] Other Important Information - Prologis received a credit rating upgrade to A2 from Moody's, making it one of only two public REITs with an A-flat rating from both agencies [21] - The company is advancing towards its goal of one gigawatt of solar and storage capacity, with over 900 megawatts either in operation or under development [20] Q&A Session Summary Question: Insights on customer interactions and demand - Management noted that consumption is closely tied to GDP growth, and while a recession would impact consumption, long-term trends remain positive [44] Question: Clarification on leasing and occupancy - The occupancy drop was attributed to a high volume of leases rolling in the first quarter, with retention at 73% [51] Question: Impact of Amazon's market presence - Prologis has signed significant deals with Amazon, with the e-commerce segment showing strong leasing activity [65] Question: Opportunities in the current environment - Management indicated that it is too early to identify specific opportunities, as the market is currently in a wait-and-see mode [69] Question: Demand for smaller spaces - Smaller spaces typically have lower occupancy due to shorter lease terms, but replacement costs are rising, providing some protection against supply issues [124][126]

Financial Data and Key Metrics Changes - The IT services revenue for Q4 was $2.6 billion, reflecting a sequential decline of 0.8% and a year-on-year decline of 1.2% [11] - For the full year, IT services revenues were $10.51 billion, showing a year-on-year decline of 2.3% [12] - Operating margins for Q4 were at 17.5%, flat sequentially but expanded by 110 basis points year-on-year [11] - The net income grew by 6% quarter-on-quarter in Q4 and 19% for the full year, with an EPS of INR 12.6, a growth of 20% year-on-year [30] Business Line Data and Key Metrics Changes - The Americas region one grew 0.2% sequentially and 6% year-on-year, while Americas region two de-grew 1% sequentially and 1.8% year-on-year [13] - Europe de-grew 2.5% sequentially and 6.9% year-on-year [13] - The BFSI sector de-grew 0.5% sequentially but grew 0.8% year-on-year [14] - Capco performed well, growing 6.5% sequentially and 11.5% year-on-year [15] Market Data and Key Metrics Changes - The company closed 17 large deals in Q4 with a total value of $1.8 billion, and for the full year, 63 large deals worth $5.4 billion were closed, reflecting a year-on-year growth of 17.5% [15] - The healthcare sector de-grew 3.1% sequentially but grew 0.1% year-on-year [14] - The consumer sector de-grew 1.3% sequentially and was flat year-on-year [14] Company Strategy and Development Direction - The company is focused on driving consistent, profitable growth and has identified five strategic priorities to achieve this [10] - There is a strong emphasis on AI-powered solutions and consulting-led services to meet client needs [18] - The company has realigned its global business lines to better serve customer needs, effective April 1st [24] Management's Comments on Operating Environment and Future Outlook - The management noted that clients are approaching tech reinvention cautiously due to an uncertain macroeconomic environment and recent tariff announcements [9] - There is an expectation of a sequential revenue decline of 3.5% to 1.5% in constant currency terms for the upcoming quarter [27] - The management remains optimistic about the deal pipeline and expects to stabilize and bring growth back in Europe [121] Other Important Information - The company finished the financial year with a free cash flow as a percentage of net income at 118%, with gross cash including investments at $6.4 billion [31] - The company has hedged about $2.4 billion of forex derivative contracts as of the end of Q4 [32] Q&A Session Summary Question: Which verticals are seeing the highest impact currently? - The CEO noted that sectors like consumer and manufacturing, particularly automotive and industrial, are experiencing significant impacts due to the uncertain economic environment [38] Question: How is BFSI performing in the US and Europe? - BFSI is seeing good traction in the US and APMIA, but there are headwinds in Europe [41] Question: What is driving the weak revenue growth despite strong bookings? - The CFO explained that timing differences in deal conversions and ramp-downs due to lower discretionary spending are affecting revenue growth [53][54] Question: What is the outlook for Europe and its impact on overall performance? - The CEO mentioned that Europe has been a challenge, but there is a strong pipeline of deals and new leadership focused on improving performance [66][120] Question: How does the company plan to maintain margins in a weak revenue environment? - The CFO indicated that while there will be pressure on margins, the company aims to keep them in a narrow band through operational efficiencies and cost management [96][100]

FIRST QUARTER 2025 RESULTS NASDAQ: FULT Data as of or for the period ended March 31, 2025 unless otherwise noted This presentation may contain forward-looking statements with respect to Fulton Financial Corporation's (the "Corporation" or "Fulton") financial condition, results of operations and business. Do not unduly rely on forward-looking statements. Forward-looking statements can be identified by the use of words such as "may," "should," "will," "could," "estimates," "predicts," "potential," "continue," ...

Financial Data and Key Metrics Changes - Operating earnings per share increased to 52 cents, a four cent increase from the previous quarter, indicating positive operating leverage and a strong balance sheet [11] - The quarterly operating efficiency ratio improved to 56.7%, operating return on assets rose to 1.25%, and operating return on average tangible common equity grew to 15.95% [11] - Tangible book value per share increased by 13.8% on an annualized basis [12] Business Line Data and Key Metrics Changes - Customer deposit growth was solid, with total deposits increasing by $200 million or 3%, driven by strong growth in interest-bearing money market products [21] - Total loans declined by $182 million during the quarter, influenced by strategic portfolio management actions [22] - Commercial mortgage and residential mortgage loans showed growth, offsetting some declines in other areas [22] Market Data and Key Metrics Changes - The net interest margin increased by two basis points to 3.43%, while net interest income on a non-FTE basis was $251 million, a decrease of $2.5 million from the previous quarter [24] - The average cost of total deposits decreased by 11 basis points to 2.03% [25] Company Strategy and Development Direction - The company continues to execute its strategic transformation through the implementation of Fulton First, focusing on talent alignment, reinvestment for growth, and operational simplification [13] - Loan growth is expected to be in the low single-digit range for the year due to strategic decisions and the current environment [17] Management's Comments on Operating Environment and Future Outlook - Management remains cautious regarding credit quality as customers navigate a volatile environment, despite improvements in asset quality metrics [18] - The company updated its rate forecast to include four 25 basis point cuts in 2025, which may impact net interest income and non-interest income [32] Other Important Information - The allowance for credit losses to total loans ratio increased to 159%, and the ACL to non-performing loan coverage increased to 193% [30] - The company expects to incur up to $14 million of additional non-operating expenses related to Fulton First for the remainder of 2025 [29] Q&A Session Summary Question: Can you talk more about loan growth and strategic offsets? - Management noted that overall pipelines have increased year over year, but they remain cautious about the pull-through rate due to macro uncertainties [38] Question: What is the impact of potential rate cuts on net interest income? - A 25 basis point cut is expected to be a headwind of about $1.7 million annually [44] Question: How is the credit portfolio being managed in light of tariffs? - Management is closely monitoring the credit portfolio for potential impacts from tariffs and government cost-cutting, particularly in the agricultural and manufacturing sectors [50][54] Question: What is the company's stance on resuming stock buybacks? - The capital strategy prioritizes organic growth and corporate initiatives before considering buybacks, especially in the current environment with limited growth opportunities [65] Question: How flexible is the operating expense guidance under different scenarios? - There is potential flexibility in timing for operating expenses, but management is comfortable with the midpoint of the expense range for now [73]

Financial Data and Key Metrics Changes - Prologis reported a core FFO of $1.42 per share, including net promotes, and $1.43 per share excluding net promotes, both exceeding forecasts [14] - Occupancy at the end of the quarter was 95.2%, a decrease of 70 basis points from year-end, attributed to strong retention [14] - Net effective rent change during the quarter was 54%, with cash basis at 32%, leading to same-store growth of 5.9% and 6.2% respectively [15] - The net effective lease mark-to-market ended at 25%, representing an additional $1.1 billion of incremental NOI [15][16] Business Line Data and Key Metrics Changes - Prologis leased 58 million square feet, nearing record levels, and initiated approximately $650 million in new developments, with 80% being build-to-suit projects [9][16] - The data center business expanded power capacity by 400 megawatts, a 13% increase, totaling 2 gigawatts in advanced stages [9][18] Market Data and Key Metrics Changes - The operating environment showed increased leasing activity in sectors like transport, food and beverage, consumer products, and electronics [20] - Net absorption for the quarter was 21 million square feet, with a global decline of 1.5%, primarily in Southern California [79] Company Strategy and Development Direction - The company aims to invest in markets where goods are consumed rather than produced, emphasizing the need for more warehouse space in a disconnected world [13][92] - Prologis plans to reduce development start guidance to $1.5 billion to $2 billion due to uncertainty in the market [31] Management's Comments on Operating Environment and Future Outlook - Management expressed concerns about potential recession impacts on consumption and decision-making, while also noting the resilience of Prologis due to its diversified rent roll and strong balance sheet [11][12] - The company anticipates increased inventory levels as businesses stockpile, with e-commerce expected to gain more market share [28] Other Important Information - Prologis raised approximately $400 million in new capital for its flagship open-ended funds, with a similar amount in redemptions, resulting in a near-neutral capital raise [19] - The company received a Moody's upgrade to an A2 rating, making it one of only two public REITs with an A-flat rating from both agencies [19] Q&A Session Summary Question: Insights on customer interactions and demand - Management noted that consumption is expected to decline in a recession, but long-term trends indicate growth [40][41] Question: Clarification on leasing and occupancy - The occupancy drop was attributed to a high number of leases rolling in the first quarter, with retention at 73% [48] Question: Stress test scenarios and market conditions - The stress test indicated potential occupancy declines and rent drops, with bad debt expectations adjusted to 75 basis points [78] Question: Impact of tariffs on customers - Management speculated that customers could absorb a 10% tariff, with Mexico expected to benefit from shifts in sourcing [86] Question: Demand for warehouse space - The company believes that a disconnected world will require more warehouse space due to the need for inventory and supply chain adjustments [91][92]

This document contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, with respect to FHN's beliefs, plans, goals, expectations, and estimates. Forward-looking statements are not a representation of historical information, but instead pertain to future operations, strategies, financial results, or other developments. Forward-lookin ...

Financial Data and Key Metrics Changes - The company reported net income of $15 million, or $0.85 per diluted share, with tangible common equity earnings of $16 million, or $0.90 per diluted share [13] - Net interest income increased from $49.5 million to $50.3 million, driving net interest margin to 4.27% from 4.17% [14] - The tangible common equity (TCE) ratio improved to 10.13%, up 36% year-over-year, and tangible book value per share increased to $31.07, up 24% [11] Business Line Data and Key Metrics Changes - Loans increased by $131 million, reflecting an annualized growth rate of 15.5% [9] - Organic originations totaled $197 million, up 64% compared to the previous quarter, with total production at $254 million [30] - Non-interest income for the quarter was $10.3 million, up $1.5 million from the previous quarter, primarily due to a death benefit realized on bank-owned life insurance [15] Market Data and Key Metrics Changes - Non-accrual loans decreased by 10.3% to $24.2 million, while non-performing assets declined by 19.6% to $27.9 million [20] - Delinquency over 30 days increased to $18.2 million but remained low at approximately 50 basis points of total loans [22] - The company anticipates a positive credit outlook for 2025, with problem trends below historic norms [24] Company Strategy and Development Direction - The company announced a merger with NBC Corp, which is expected to add approximately $900 million to assets and expand its market presence in Oklahoma [6][7] - The management emphasized a dual strategy of organic growth and strategic mergers and acquisitions, with active conversations for potential deals [10][37] - The company aims to enhance its product offerings and customer experience through the integration of NBC's capabilities [72][74] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about maintaining margin and earnings growth despite economic uncertainties related to tariffs [43] - The company is focused on managing expenses and improving efficiency to offset potential revenue headwinds [92] - The management team is prepared for growth opportunities and remains disciplined in assessing M&A opportunities [38][37] Other Important Information - The company closed the quarter with a TCE ratio of 10.13% and a tangible book value per share of $31.07, indicating a strong balance sheet [11] - The company has retained approximately $67 million in capital from a common stock raise in December, ready for strategic growth [9] Q&A Session Summary Question: Impact of tariffs on commercial customers - Management noted that customers have provisions in contracts to pass on costs, and there is currently no indication of a slowdown [42] Question: Update on sales initiatives and loan growth - Management indicated they are in the early stages of sales initiatives, with significant contributions from Tulsa and Kansas City [45][46] Question: Expectations for loan purchases - Management clarified that recent loan purchases were a one-time deal and not part of a consistent strategy [53] Question: Community market activity and growth - Management sees significant opportunities in community markets and is focused on building relationships with local businesses [55] Question: M&A confidence amidst market volatility - Management believes there are still opportunities for deals, driven by age of ownership and management in potential target companies [59] Question: Expected deal accretion from NBC - Management expects about 50 cents in accretion for year two post-merger, with specific figures to be provided later [62] Question: Deposit market competition and cost of funds - Management noted a more rational competition in deposit markets and plans to mirror Fed moves regarding deposit costs [66] Question: Margin expectations with potential Fed rate cuts - Management indicated that while they can defend margins, there may be modest upside potential if rates are cut [90]

ASML reports €7.7 billion total net sales and €2.4 billion net income in Q1 2025 2025 total net sales expected to be between €30 billion and €35 billion ASML 2025 First-Quarter Veldhoven, the Netherlands April 16, 2025 Agenda April 16, 2025 Page 2 Public • Investor key messages • Business summary • Outlook • Financial statements Investor key messages April 16, 2025 Page 3 Investor key messages April 16, 2025 Page 4 Public • The semiconductor industry remains strong, driven by artificial intelligence adoptio ...