Financial Data and Key Metrics Changes - The third quarter net income totaled $55 million, down from $64 million in the previous quarter, reflecting the impact of a one-off transaction in Q2 [10][6] - The return on equity (ROE) for the quarter was 14.9%, down from the previous quarter, primarily due to the issuance of Additional Tier 1 (AT1) capital and one-off transactions [10][6] - The regulatory capital adequacy ratio rose to 15.8%, and the Basel III Tier 1 ratio increased to 18.1%, both above internal targets and regulatory minimums [9] Business Line Data and Key Metrics Changes - The commercial portfolio reached $12.3 billion, up 1% quarter over quarter and 13% year over year, driven by growth in loans, contingencies, and investments [12] - The loan portfolio closed at $8.7 billion, an increase of 2% from the previous quarter and 8% year over year, indicating steady client demand [12] - Non-interest income totaled $15.4 million for the quarter, reflecting strong activity in letters of credit and syndication despite a sequential decline [20][21] Market Data and Key Metrics Changes - The company reported a 6% quarter-over-quarter increase in deposits, reaching a record $6.8 billion, and a 21% year-over-year increase [17] - The growth in deposits was primarily driven by corporate clients, which rose over 26% from June [17] - The investment portfolio totaled $1.1 billion, up 4% from the prior quarter and 18% year over year, maintaining a predominantly investment-grade composition [15] Company Strategy and Development Direction - The company aims to strengthen its capital base through the AT1 issuance to support a robust pipeline of high-value transactions [3] - The strategic plan launched in 2022 focuses on enhancing operating capabilities and developing new business lines to diversify revenue sources [29] - The company is positioned to capture opportunities in medium-term structured solutions and trade finance expertise amid regional economic variations [28] Management Comments on Operating Environment and Future Outlook - The management noted a more challenging environment with rate cuts and high regional liquidity but expressed confidence in the company's solid results [2] - The economic outlook for Latin America is stable, with the IMF projecting 2.4% growth for 2025, supported by stronger performance in several economies [28] - Management emphasized the importance of navigating uncertainty and capturing opportunities through structured solutions and trade finance [28] Other Important Information - The company successfully issued its first AT1 capital instrument in mid-September, which was oversubscribed and attracted a diverse range of investors [3] - The efficiency ratio closed at 25.8%, better than the full-year guidance of 27%, reflecting disciplined cost management [24] - The company has implemented a new trade finance platform expected to enhance transaction volumes and client experience [21] Q&A Session Summary Question: What is the new target for capital ratios after the AT1 issuance? - Management confirmed the target remains in the mid-teens, around 15%, with plans to deploy the additional capital over the next 12 to 18 months [34][35] Question: What is the visibility on the stage two credit quality? - Management indicated that the increase in stage two was driven by a single client, with no systemic issues, and confirmed that the client is current [36][37] Question: What are the growth opportunities for deploying AT1 capital? - The focus is on Central America and selective opportunities in Argentina, particularly in sectors with strong credit profiles [50][54] Question: How will operational deposits impact funding costs? - Management sees operational deposits as a low-hanging fruit for reducing funding costs and plans to enhance cash management capabilities [40][41] Question: What is the expected performance of net interest margin (NIM)? - The company maintains a NIM guidance of 230 basis points for the year, with sensitivity to interest rate cuts impacting NIM by about 12 to 13 basis points for a 100 basis point cut [59]

3Q25 Earnings Results OCTOBER 2025 Q3 Highlights: Balance Sheet Strengthening and Solid Profitability Steady Earnings and RoE Record Commercial Portfolio and Record Total Deposits Robust Margins and Asset Quality Strong Non-Interest Income and Efficiency Commercial Book $10.9 Bn 0% QoQ | ↑ 12% YoY Deposits $6.8 Bn ↑ 6% QoQ | ↑ 21% YoY NIM 2.32% ↓ 4 Bps QoQ | ↓ 23 Bps YoY NPLs 0.15% 0 Bps QoQ | ↓ 1 Bps YoY Non-Interest Income $15.4 M ↓ 31% QoQ | ↑ 40% YoY Efficiency Ratio 25.8% ↑ 262 Bps QoQ | ↓ 136 Bps YoY ...

Core Insights - The Apuiat Wind Farm, a 200 MW facility, has commenced commercial operations, marking a significant milestone for both the Innu communities and Boralex Inc. [1][2] - This project is the first national energy initiative for the Innu and the first wind farm in Québec's Côte-Nord region, symbolizing a revival of wind energy development in the province [2][11] - The wind farm features 34 Vestas V162 turbines, each with a capacity of 6 MW, making them the most powerful turbines commissioned in Quebec [3] Project Development - The Apuiat Wind Farm was co-developed by the Innu communities and represents their first major energy project [2][11] - The electricity generated will be sold to Hydro-Québec under a 30-year power purchase agreement [3] - An official inauguration is scheduled for spring 2026, highlighting the project's significance for the region [4] Economic Impact - The Innu communities will receive 50% of the project's net earnings over the next 30 years, along with annual royalties of $1 million shared between Uashat mak Mani-utenam and Port-Cartier [8] - Indigenous businesses have been awarded $19 million in contracts for goods and services related to the project [8] - The construction phase mobilized over 300 workers, and 11 long-term jobs will be created for ongoing operations [8] Community and Environmental Benefits - The project is expected to produce enough electricity to power approximately 150,000 people annually, contributing to Quebec's renewable energy needs [8] - A wind maintenance training program for Indigenous communities has been established in collaboration with local training centers [8] - The project embodies a model of shared governance and development that respects the Innu communities [7][9]

Core Insights - Banco Latinoamericano de Comercio Exterior, S.A. (Bladex) reported solid profitability with net profits of $55.0 million in 3Q25, a 4% increase year-over-year, and $170.9 million in 9M25, an 11% increase year-over-year [2][9] - The bank's credit portfolio reached an all-time high of $12,286 million as of September 30, 2025, reflecting a 13% year-over-year growth [6][9] - The bank successfully executed its inaugural Additional Tier 1 (AT1) capital issuance of $200 million, which was oversubscribed more than three times, indicating strong market confidence [11] Financial Performance - Net Interest Income (NII) for 3Q25 was $67.4 million, a 1% increase year-over-year, and $200.4 million for 9M25, a 4% increase year-over-year [4][9] - Fee income surged to $14.1 million in 3Q25, a 34% increase year-over-year, and $44.5 million in 9M25, a 37% increase year-over-year [5][9] - The Efficiency Ratio was well-managed at 25.8% for 3Q25 and 25.2% for 9M25, as revenue growth outpaced ongoing investments in technology and modernization [5][9] Asset Quality and Capital Position - The bank maintained a healthy asset quality, with 97.2% of the credit portfolio classified as low risk or Stage 1, and impaired credits represented only 0.2% of the total credit portfolio [6][9] - The Tier 1 Capital ratio improved to 18.1% and the Capital Adequacy Ratio to 15.8% at the end of 3Q25, both exceeding internal targets and regulatory minimums [8][9] - Liquid assets accounted for 15.5% of total assets, primarily consisting of deposits with the Federal Reserve Bank of New York [8][9] Recent Developments - The Board of Directors approved a quarterly common dividend of $0.625 per share for 3Q25, to be paid on November 25, 2025 [10] - The bank's commercial portfolio reached a historic peak of $10,872 million at the end of 3Q25, supported by steady credit demand across all business products [8][9]

Core Points - Bladex announced a quarterly cash dividend of US$0.625 per share for Q3 2025, payable on November 25, 2025, to stockholders as of the record date of November 10, 2025 [1] - As of September 30, 2025, Bladex had 37,231,065.88 shares outstanding [1] Company Overview - Bladex, established in 1979, is a multinational bank headquartered in Panama, promoting foreign trade and economic integration in Latin America and the Caribbean [2] - The bank has offices in Argentina, Brazil, Colombia, Mexico, the USA, and a representative license in Peru, serving financial institutions and corporations [2] Shareholder Information - Bladex has been listed on the NYSE since 1992, with shareholders including central banks, state-owned banks, commercial banks, financial institutions, and retail investors from 23 Latin American countries [3]

Core Insights - Bladex has successfully closed a US$700 million syndicated loan to YPF to support the development of its export activities [1][2] - The financing is structured as a three-year Pre-Export Facility aimed at pre-financing exports and working capital, with strong market support indicated by oversubscription [2][3] - The loan reflects confidence in Argentina's energy sector, particularly the strategic Vaca Muerta project, which is crucial for the country's energy self-sufficiency and export potential [3][4] Financial Impact - The development of Vaca Muerta is expected to generate billions of dollars in annual exports and create over 50,000 direct and indirect jobs by 2030, significantly boosting Argentina's economy [5] - Bladex aims to consolidate its leadership position as a financial partner for energy companies in the region, reinforcing its commitment to investments that enhance energy security and economic impact [6] Company Background - Bladex, established in 1979, promotes trade finance and economic integration in Latin America, with a presence in multiple countries and listed on the NYSE since 1992 [7]

Core Points - Boralex has appointed Ted Di Giorgio to its Board of Directors, enhancing the board's financial expertise and understanding of complex business environments [1][2] - Ted Di Giorgio brings nearly 35 years of experience from EY, advising various industries and serving on the Board of Directors and Audit Committee of Héroux-Devtek Inc. [3] - Boralex is a leader in renewable energy, with over 30 years of experience, and has increased its installed capacity by more than 50% to 3.2 GW over the past five years [4] Company Overview - Boralex is a prominent player in the renewable energy sector, particularly in Canada and France, focusing on onshore wind power and expanding into solar and storage projects [4] - The company is developing a portfolio of projects totaling 8.2 GW, guided by its corporate social responsibility values [4] - Boralex's shares are traded on the Toronto Stock Exchange under the ticker symbol BLX [4]

Core Points - Bladex will hold a conference call on October 29, 2025, to discuss its third-quarter results for 2025 [1] - The earnings release will be announced on October 28, 2025, after market close [2] - Bladex is a multinational bank established in 1979 to promote foreign trade and economic integration in Latin America and the Caribbean [3] Company Overview - Bladex is headquartered in Panama and has offices in Argentina, Brazil, Colombia, Mexico, the USA, and a representative license in Peru [3] - The bank is listed on the NYSE since 1992, with shareholders including central banks, state-owned banks, and institutional investors from 23 Latin American countries [4] Recent Developments - Bladex and Scotiabank structured a US$250 million loan to strengthen Peru's energy infrastructure [5] - The bank successfully launched its inaugural US$200 million Additional Tier 1 (AT1) notes offering, attracting strong global investor demand [6]

Core Points - Boralex inc. will release its 2025 third quarter results on November 7, 2025, at 11 a.m. ET [1] - A conference call will be held for financial analysts and investors to discuss the results [1] - The financial information will be available through a press release and on Boralex's website at 7 a.m. on the same day [3] Company Overview - Boralex has been providing affordable renewable energy for over 35 years and is a leader in the Canadian market [4] - The company is the largest independent producer of onshore wind power in France and has facilities in the United States and development projects in the United Kingdom [4] - Over the past five years, Boralex's installed capacity has increased by more than 50% to over 3.3 GW [4] - The company is developing a portfolio of projects totaling 8.2 GW in wind, solar, and storage [4] - Boralex has been recognized as the Best Corporate Citizen in Canada by Corporate Knights and is committed to corporate social responsibility [4]

Core Insights - Boralex and Six Nations of the Grand River Development Corporation have been awarded the Innovative Canadian Clean Power Project of the Year for the Hagersville Battery Energy Storage Park, highlighting their commitment to advancing renewable energy in Canada [1][2]. Project Overview - The Hagersville Battery Energy Storage Park, located in Haldimand County, Ontario, is set to become Canada's largest battery storage facility, providing 300 MW / 1.2 GWh of flexible capacity to the provincial grid [3]. - The project is recognized for its innovative approach to large-scale energy storage and its equitable Indigenous partnership, showcasing adaptive land reuse [3][5]. Leadership and Collaboration - Leaders from both Boralex and SNGRDC emphasized the importance of collaboration in driving clean energy initiatives, with statements reflecting their commitment to low-carbon and reliable energy solutions [4]. - The project is seen as a model for inclusive development, creating local jobs and generating long-term revenues while reinforcing the role of Indigenous energy leaders in the clean energy transition [4][5]. Industry Impact - The Hagersville Battery Energy Storage Park is expected to strengthen Ontario's electricity grid, providing critical energy capacity that supports economic growth and energy resilience [4]. - The project exemplifies how innovation, collaboration, and social responsibility can drive Canada's clean energy future [4][5]. Company Background - Boralex has over 35 years of experience in providing affordable renewable energy and is a leader in the Canadian market, with a significant increase in installed capacity of over 50% to more than 3.3 GW in the past five years [6]. - Six Nations of the Grand River Development Corporation manages a diverse energy portfolio with a total capacity of 2.5 GW, including battery storage, solar, and wind projects [8].