Financial Performance - Revenue for the third quarter of 2025 was $193.9 million, a 15.1% increase year-over-year[11] - Net income for the third quarter of 2025 was $0.2 million, a 104.5% increase year-over-year[11] - Sales volume for the third quarter of 2025 was $12.2 billion, a 1.7% increase year-over-year[11] - Year-to-date revenue reached $511.2 million, up 12.1% year-over-year[12] - Year-to-date net loss was $(15.2) million, a 27.2% decrease year-over-year[12] Brokerage Operations - Real estate brokerage commissions revenue for the third quarter of 2025 was $162.2 million, up 14.2% year-over-year[13] - Brokerage sales volume for the third quarter of 2025 was $8.4 billion, a 2.0% decrease year-over-year[13] - Financing fees revenue for the third quarter of 2025 was $26.3 million, up 27.7% year-over-year[17] - Financing sales volume for the third quarter of 2025 was $2.9 billion, a 34.4% increase year-over-year[17] Market Trends - Private investors dominate the U S commercial real estate market, accounting for 57% of dollar volume[34]

Q3 2025 Financial Performance - The company reported a net loss of $110 million and a negative EPS of $305[8] - Adjusted EBITDA was $30 million, including a $9 million unfavorable net timing impact and negative equity income from Americas Styrenics[8] - Free Cash Flow was negative $38 million due to $22 million cash used in operations and $16 million in capital expenditures[8] - Q3 net sales were $743 million, a decrease of 14% year-over-year, driven by a 7% volume decrease, a 9% price decrease, and a 2% positive impact from foreign exchange[14, 19] Segment Performance - Engineered Materials net sales were $273 million with an Adjusted EBITDA of $34 million[22] - Latex Binders net sales were $198 million with an Adjusted EBITDA of $17 million[25] - Polymer Solutions net sales were $271 million with an Adjusted EBITDA of $4 million[28] Q4 2025 Outlook - The company anticipates a net loss of $170 million to $180 million and an Adjusted EBITDA of $30 million to $40 million[7] - Free Cash Flow is projected to be approximately $20 million, with an expected available liquidity of approximately $365 million at the end of the year[7] Strategic Initiatives - The company announced the cessation of virgin MMA production operations at the Rho and Porto Marghera, Italy facilities and repurposing Rho assets for PMMA recycling activities[7] - The company announced the intention to close the polystyrene production facility in Schkopau, Germany[7] - The company saw 5% growth in strategic growth platforms and 2% volume growth in recycled content containing sales year-to-date[7] Trade Flow Changes - US PMMA imports decreased by 17% year-over-year in Q2, while exports decreased by 20%[10] - US ABS imports increased by 20% year-over-year in Q2, while exports decreased by 22%[10] - European PMMA imports increased by 3% year-over-year in Q2, while exports increased by 7%[10] - European ABS imports increased by 9% year-over-year in Q2, while exports increased by 3%[10]

Financial Performance - Mercer's Q3 2025 operating EBITDA decreased to $(28) million, a decrease of $(7) million compared to Q2 2025[6] - The net loss for Q3 2025 was $(81) million, compared to a net loss of $(86) million in Q2 2025[26] - Cash flow used in operating activities increased to $(30) million in Q3 2025 from $(5) million in Q2 2025[26] - Capital expenditures increased to $(30) million in Q3 2025 from $(24) million in Q2 2025[26] - Liquidity position decreased to $376 million in Q3 2025 from $438 million in Q2 2025[26] Market Conditions and Pricing - Lower sales realizations led to a non-cash inventory impairment of $20 million in Q3 2025[8] - Lower sales realizations for NBSK and NBHK pulp negatively impacted EBITDA by approximately $15 million[8] - Lumber production decreased by 4% compared to Q2 2025 due to planned maintenance at Friesau[43] Strategic Initiatives - Mercer aims to improve profitability by $100 million by the end of 2026, using 2024 as a baseline[29, 36] - The company anticipates $30 million in cost savings for 2025 and is on track to meet this goal[29, 36] - Mass Timber backlog of projects currently sits at ~$80 million[60]

Financial Performance - Net income decreased from $195.3 million in 2Q25 to $164.2 million in 3Q25[5] - Annualized Return on Equity (ROE) decreased from 13.8% in 2Q25 to 11.5% in 3Q25[5] - Shareholders' equity remained constant at $5.7 billion in both 2Q25 and 3Q25[5] - The combined ratio for the Mortgage Insurance segment increased from 22.1% in 2Q25 to 33.9% in 3Q25[5] - Book value per share grew to $58.86 as of September 2025, with an annualized growth rate of 18.1% since December 31, 2013[10] Portfolio and Risk Management - Insurance In Force (IIF) increased from $246.8 billion in 2Q25 to $248.8 billion in 3Q25[5] - New Insurance Written (NIW) slightly decreased from $12.5 billion in 2Q25 to $12.2 billion in 3Q25[5] - Portfolio default rate increased from 2.12% in 2Q25 to 2.29% in 3Q25[5] - 97% of the Insurance In Force (IIF) is subject to reinsurance protection as of September 30, 2025[5, 32, 35] Capital and Liquidity - PMIERs Sufficiency Ratio was 177% in 3Q25[5] - Risk-to-Capital Ratio improved from 9.2:1 in 2Q25 to 8.9:1 in 3Q25[5] - The company has $5.7 billion in GAAP Equity as of September 30, 2025[34] - Available liquidity at the holding companies is $1.0 billion, with an additional $500 million in undrawn capacity with the credit facility as of September 30, 2025[34]

Financial Performance - Net investment income increased to $993,000 from $887,000 in Q3 2024, supported by lower expenses[9] - Total expenses reduced to $596,000 from $1.3 million in the prior-year period, driven by lower incentive fees, interest expense and base management fees[9] - Total investment income decreased by 29% year-over-year[27] - Adjusted expenses decreased 42% to $596,000 in Q3 2025, excluding capital gains incentive fees[28] - $617,000, or 39% of total investment income, was attributable to non-cash PIK interest in Q3 2025 compared with 24% in the prior-year period[29] Portfolio Activity - Funded $2.9 million in new and follow-on investments during Q3[9] - New investment of $2.5 million was made, including a $2.25 million term loan and a $250,000 equity investment[17] - Received $7.6 million in principal repayment[19] - Exited investment with repayment of $713,000 in loan principal and recognition of a $77,000 realized loss[19] - Recognized a $2.9 million realized loss on the investment in Tilson Technology Management, Inc[19] Portfolio Composition - The fair value of the investment portfolio was $44.3 million[20] - Annualized weighted average yield of debt investments, including PIK interest, was 12.2% at September 30, 2025[15] - Top five portfolio investments totaled $21.8 million, representing 49% of the total portfolio[22] Liquidity and Capital - Maintained strong liquidity of ~$28 million with no outstanding borrowings[9] - $9.5 million in cash, up from $835,000 at year-end 2024[35] - $18.3 million available credit capacity[35]

November 7, 2025 | 10:00 a.m. ET Forward-Looking Statements Certain written statements included herein and/or oral statements made in connection with the presentation contained herein constitute "forward-looking information" within the meaning of applicable securities laws in each of the provinces and territories of Canada and the respective policies, regulations and rules under such laws and "forward-looking statements" within the meaning of the U.S. Private Securities Litigation Reform Act of 1995 (collec ...

Financial Performance - Net revenues reached Ps 2093 billion, down 121% (US$ 154 million) [11] - Adjusted EBITDA stood at Ps 435 billion, down 237% (US$ 36 million) [11] - Consolidated Adjusted EBITDA margin reached 208%, a contraction of 315 bps YoY from 240% [10] - Net Loss Attributable to Owners of the Company in 3Q25 was Ps 85 billion, down from Ps 276 billion in 3Q24 [33] Sales Volumes - Cement, masonry & lime sales volumes decreased by 54% YoY [19, 20] - Concrete sales volumes increased by 378% YoY [19, 20] - Railroad sales volumes increased 39% YoY [19, 20] - Aggregates sales volumes increased 263% YoY [19, 20] Balance Sheet - Net Debt of US$ 206 million, representing a Net Debt/LTM Adjusted EBITDA ratio of 149x [10, 37] - Class 5 bond issuance of US$ 1129 million in July to refinance short-term debt [10, 37]

Company Overview - Mach Natural Resources (MNR) has a market capitalization of $2 billion and an enterprise value of $3.1 billion, resulting in an EV/2025e Adjusted EBITDA multiple of 3.8x[14] - The company possesses approximately 2.8 million net acres, operates around 12,600 gross producing wells, and holds proved reserves of 653 million barrels of oil equivalent (MMBOE) [14] - Natural gas accounts for 71% of the company's 2026e volumes, with approximately 50% of gas volumes unhedged [14] - Q4 2025E net daily production is estimated at 151 thousand barrels of oil equivalent per day (MBOED), comprising 18% oil, 15% NGLs, and 67% natural gas [14] Financial Performance & Strategy - Mach targets a reinvestment rate of less than 50% of operating cash flow to optimize distributions to unitholders [17] - The company aims to maintain a low net debt to adjusted EBITDA ratio of 1.0x to sustain financial strength [17] - Mach's realized multiple on invested capital (MOIC) is 1.8x through Q4 2025 [33] - Since 2024, Mach has distributed $4.87 per unit [35] Recent Transactions & Assets - Recent acquisitions in the San Juan Basin (~570,000 net acres, $771 million purchase price) and Permian Basin (~130,000 net acres, $500 million purchase price) are expected to drive CAD accretion [43] - These transactions are projected to increase CAD accretion by 7% in Year 1, 12% in Year 2, and 27% in Year 5 [44] - Following the Permian and San Juan acquisitions, the company's blended decline rate has improved to 15% [45]

Investor Presentation November 2025 Legal Disclaimer This Investor Presentation includes "forward-looking statements" which reflect Orion Properties Inc.'s (the "Company", "Orion", "we", or "us") expectations and projections regarding future events and plans, future financial condition, results of operations, liquidity and business, including leasing and occupancy, acquisitions, dispositions, rent receipts, expected borrowings and financing costs and the payment of future dividends. Generally, the words "an ...

Financial Performance & Outlook - DTI's Q3 2025 revenue reached $38.8 million, reflecting a broad scope and scale[13] - Q3 2025 Adjusted Free Cash Flow was $5.6 million, demonstrating resilience in a lower rig count environment[13] - The company anticipates revenue between $145 million and $165 million for FY 2025[94] - Adjusted EBITDA for FY 2025 is projected to be between $32 million and $42 million, with an Adjusted Free Cash Flow between $14 million and $19 million[94] Geographic Expansion - Western Hemisphere accounted for 85% of Q3 2025 revenue, supported by 15 service and support facilities[13] - Eastern Hemisphere contributed 15% to Q3 2025 revenue, facilitated by 11 service and support facilities[13] - The company expects to double revenue contribution from the Eastern Hemisphere in FY 2025[95] Customer Base & Tool Rental - E&P Operators make up 47% of DTI's customers, Oilfield Service Companies account for 48%, and Other customers represent 5%[24] Strategic Acquisitions & Synergies - DTI achieved 100% of the $45 million in previously announced SDPI synergies by August 2025[56]