INVESTOR PRESENTATION February 2026 2025 Q4 Legal Disclaimers 1. See Appendix – "Boardwalk EBITDA" for a reconciliation of net income attributable to Loews to EBITDA, a non-GAAP measure. 2. See page titled "Loews Hotels & Co – Portfolio" for additional information about hotels owned and operated by Loews Hotels & Co. Forward Looking Statements and Risk Factors. The information presented herein is generally available from public sources, including our and our subsidiaries' earnings releases and SEC filings. ...

Core Insights - A significant release of documents by the Justice Department related to Jeffrey Epstein includes names of influential individuals, including political leaders and business magnates, who have denied any wrongdoing or close associations with Epstein [1][2]. Group 1: Notable Individuals Mentioned - US President Donald Trump is referenced in at least 4,500 documents, with a summary from the FBI compiling public tips regarding his connections to Epstein [3]. - Former Prince Andrew, known as Andrew Mountbatten-Windsor, has faced scrutiny over allegations related to Epstein, with his name appearing hundreds of times in the released documents [4][5]. - Elon Musk is mentioned in email exchanges from 2012 and 2013 discussing a potential visit to Epstein's private island, although he claims to have refused such invitations [7][8]. - Richard Branson corresponded extensively with Epstein post his 2008 guilty plea, including an invitation for Epstein to visit his private Caribbean island [9][10]. - Steven Tisch, co-owner of the New York Giants, is referenced over 400 times, with emails indicating Epstein offered to introduce him to various women [11][12]. - Casey Wasserman, head of the 2028 Los Angeles Summer Olympics committee, exchanged flirtatious emails with Ghislaine Maxwell, Epstein's associate, but denied any personal relationship with Epstein [13][15]. - Former Israeli Prime Minister Ehud Barak maintained regular contact with Epstein, even after his 2008 guilty plea, and acknowledged visiting him [16][17]. - Howard Lutnick, a former commerce secretary, visited Epstein's island, contradicting previous claims of severing ties with him [18][19]. - Sergey Brin, co-founder of Google, made plans to meet with Epstein and Maxwell, indicating prior connections before public allegations surfaced [20][21]. - Steve Bannon exchanged friendly texts with Epstein, discussing various topics, including politics and a documentary aimed at rehabilitating Epstein's image [22][23]. - Miroslav Lajcak, a Slovak national security adviser, resigned following the release of his communications with Epstein, although he faced no accusations of wrongdoing [24][25].

Core Viewpoint - A significant release of documents by the Justice Department reveals connections between various powerful individuals and Jeffrey Epstein, highlighting their relationships and interactions with him despite his known criminal history [1][2]. Group 1: Notable Individuals and Their Connections - Britain's Prince Andrew has been linked to Epstein through allegations of trafficking, with his name appearing multiple times in the released documents, including private emails [3]. - Elon Musk is mentioned in emails from 2012 and 2013 discussing potential visits to Epstein's Caribbean island, although he claims to have refused invitations [4][5]. - New York Giants co-owner Tisch is referenced over 400 times, with correspondence indicating Epstein offered to connect him with women, which Tisch acknowledges but denies visiting the island [6][7]. - Former Commerce Secretary Lutnick's past visit to Epstein's island contradicts his previous claims of severing ties, as emails show he accepted an invitation in December 2012 [8][9]. - Google co-founder Brin had plans to meet with Epstein and Ghislaine Maxwell, with emails indicating social invitations prior to public accusations against Epstein [10]. Group 2: Political and Diplomatic Connections - Steve Bannon, a former adviser to Trump, exchanged numerous friendly texts with Epstein, discussing various topics including politics and a potential documentary to improve Epstein's image [11]. - Lajcak, a national security adviser to the Slovakian prime minister, resigned following the release of his communications with Epstein, which he claimed were part of his diplomatic duties [12][13]. Group 3: Philanthropic and Social Interactions - Richard Branson invited Epstein to his private island in 2013, discussing philanthropy and financial ideas, but later severed ties after learning more about Epstein's allegations [14][15][16].

Group 1 - Loblaw Companies Limited will release its 2025 fourth quarter and full year results on February 25, 2026, at approximately 6:30 a.m. (ET) [1] - A conference call will follow the results release at 10:00 a.m. (ET), along with an audio webcast [1] - The audio webcast will be available for replay for 12 months after the live event [2] Group 2 - Loblaw is Canada's food and pharmacy leader and the largest retailer in the nation, providing a wide range of products and services [3] - The company operates more than 2,500 corporate franchised and Associate-owned locations, employing over 220,000 full- and part-time employees [3] - Loblaw's purpose is to prioritize the needs and well-being of Canadians, facilitating one billion transactions annually in its stores [4] Group 3 - Loblaw offers a diverse range of services including grocery, pharmacy, health and beauty, apparel, general merchandise, financial services, and wireless mobile products [3][4] - The company has over 1,100 grocery stores that cater to various market segments, from discount to specialty [4] - Loblaw operates nearly 1,400 Shoppers Drug Mart® and Pharmaprix® locations, along with pharmacies in close to 500 grocery stores [4]

Core Insights - Americana by Loews Hotels will replace the existing Sheraton Arlington Hotel, marking a significant evolution for both the market and the brand [1] - The new hotel will be the 28th property of Loews Hotels, honoring the heritage of the iconic Americana Hotel in Bal Harbour, Florida [2] - The project reflects confidence in Arlington as a growing destination, with a focus on service excellence and design for both group and leisure travelers [3] Hotel Features - The hotel will feature 507 guest rooms, including 39 suites, with standard room sizes ranging from 350 to 400 square feet [3] - It will offer over 83,000 square feet of total indoor and outdoor meeting and event space, including a 10,000-square foot Event Barn [3] - Meeting and event highlights include a Grand Ballroom of 17,337 square feet and a total of 44,789 square feet of interior meeting space [4] Strategic Importance - The opening of Americana by Loews Hotels deepens the company's presence in Arlington, contributing to a total of 1,695 guest rooms and over 374,000 square feet of meeting space across its three hotels in the area [4] - The project aligns with Loews Hotels & Co's strategy to invest in destinations that provide long-term value for guests and the surrounding community [4]

Core Viewpoint - Loews Corporation will report its fourth quarter 2025 financial results on February 9, 2026, and will provide earnings remarks from its CEO and CFO on the same date [1]. Group 1: Financial Reporting - The financial results for the fourth quarter of 2025 will be disclosed on February 9, 2026 [1]. - Earnings remarks will be available on the company's website, including commentary from CEO Ben Tisch and CFO Jane Wang [1]. Group 2: Company Overview - Loews Corporation operates in diversified sectors including insurance, energy, hospitality, and packaging [2]. - Additional information about the company can be found on its official website [2].

Core Insights - Loblaw Companies Limited raised and donated over $6.8 million to President's Choice Children's Charity in 2025, enabling the charity to feed 1 million children annually [1][4] Fundraising Campaign - The majority of the funds were raised during the 'Get to Give Days' campaign from October 16 to November 2, where Loblaw matched customer donations at checkout up to $2 million, resulting in a $2.6 million contribution to the charity [2] Charity Impact - The funds allowed the PC Children's Charity to achieve its goal of feeding 1 million kids annually through the Power Full Kids Eat Well program, which operates in approximately 2,200 schools across Canada [3] Charity Background - President's Choice Children's Charity has been active for 36 years, helping over 10 million children and focusing on combating childhood hunger since 2018 [4]

Core Viewpoint - Loblaw Companies Limited has successfully completed a private placement offering of $500 million in senior unsecured notes, which will be used to repay existing debt and for general corporate purposes [2][3]. Group 1: Offering Details - The offering consists of $500 million aggregate principal amount of senior unsecured notes with an interest rate of 4.387% per annum, maturing on June 16, 2035 [2]. - The notes are unsecured obligations and rank equally with all existing and future unsecured and unsubordinated indebtedness of the company [3]. Group 2: Credit Ratings - Morningstar DBRS has assigned a credit rating of "BBB (high)" with a "Positive" trend to the notes, while Standard and Poor's Rating Services has rated them "BBB+" [4]. Group 3: Company Overview - Loblaw is Canada's leading food and pharmacy retailer, operating over 2,800 locations and employing more than 220,000 individuals [6]. - The company offers a wide range of products and services, including grocery, pharmacy, health services, apparel, and financial services, catering to the needs of Canadians [6][7].

Company Overview - Loews Corporation, based in New York, has a market cap of $21.2 billion and provides commercial property and casualty insurance both in the US and internationally [1] - The company offers specialty insurance products including management & professional liability, surety & fidelity bonds, and risk management solutions [1][2] Stock Performance - Loews' stock reached an all-time high of $109.06 on November 26 and is currently trading 4% below that peak [3] - Over the past three months, Loews' stock prices have increased by 6.7%, significantly outperforming the Financial Select Sector SPDR Fund (XLF), which saw a 1.6% increase during the same period [3] - Year-to-date, Loews' stock prices have surged by 23.6%, and 23.5% over the past 52 weeks, compared to XLF's gains of 13.5% and 10.2% respectively [4] Financial Results - Following the release of Q3 results on November 3, Loews experienced a slight dip in stock prices, but maintained positive momentum for nine subsequent trading sessions [5][6] - The company reported a 4.6% year-over-year growth in overall revenues, reaching $4.7 billion, driven by improved underwriting results and higher net investment income [5] - Loews' net income increased by 25.7% year-over-year to $504 million, supported by a notable improvement in its combined ratio [6] - Compared to Cincinnati Financial Corporation (CINF), Loews has outperformed with a year-to-date gain of 23.6% versus CINF's 14.8% [6]

Core Viewpoint - Loblaw Companies Limited has announced a private placement of $500 million in senior unsecured notes with an interest rate of 4.387% per annum, maturing on June 16, 2035, aimed at repaying existing debt and for general corporate purposes [2][3]. Group 1: Offering Details - The notes will be sold at par and are being offered through a syndicate of agents led by CIBC Capital Markets, RBC Capital Markets, TD Securities, BMO Capital Markets, and Scotia Capital, with the expected closing date on December 16, 2025 [3]. - The offering is contingent upon the notes receiving a minimum rating of "BBB (high)" with a "Positive" trend from Morningstar DBRS and at least "BBB+" from Standard and Poor's [4]. Group 2: Company Overview - Loblaw is recognized as Canada's food and pharmacy leader and the largest retailer in the nation, operating over 2,800 locations and employing more than 220,000 individuals [6]. - The company aims to meet the needs of Canadians through a diverse range of services, including grocery, pharmacy, health services, and financial services, with a focus on convenience and affordability [7].