FirstLook

Research evidence excerpt

FirstLook

May 12, 2026

First Look

Life360, Inc. (LIF) Evercore ISI Focus

LIF Is Good Page 9

Electrical Equipment & Multi-Industry

Mark Mahaney Outperform

Overnight (N)Oats... MHI solid MarQ orders +ve ENR / GEV

Industry UpdatesAlexander Virgo

Seagate Technology (STX) Healthcare Facilities & Managed Care

Thoughts From the Road – Seagate Edition Page 4 1Q26 MCOs Round Up - MLR Trends Lower; MA &

Medicaid Membership Continued to Decline; Commercial

Amit Daryanani Outperform Remained Mixed Page 9

Elizabeth Anderson

Vertiv Holdings Co (VRT)

"TOP 5" Focus Items Going into Investor Day. Page 5 Industrials Data

Amit Daryanani Outperform Industrials Data Alert: N. America farm equip industry April

sales growth – improved for row crop tractors & combine

Waters (WAT) harvesters but weaker for 4WD tractors Page 10

Takeaways from management meeting: A strong start + David Raso

Guide cushion sets up WAT well into 2H Page 5

Vijay Kumar Outperform REITs

1Q26 Same Store NOI Report Page 10

Initiations Steve Sakwa

Benitec Biopharma Inc. (BNTC)

IT Hardware & Networking

A Rare Disease Story Worth Chewing On; Initiate OP Page 6

HDD Market Forecast Update: HDD Pricing Power Ignites

Cory Kasimov Outperform CY26 Breakout Page 11

Amit Daryanani

Kailera Therapeutics, Inc (KLRA)

Initiating Outperform Page 6 Surface Transportation

Umer Raffat Outperform The Rail Review: All About Grain Growth Page 11

Jonathan Chappell

Price Target Changes

Fox Corporation (FOXA) Airlines

Durability on Repeat Page 7 Eye on Supply - Airline Schedule Changes Page 12

Kutgun Maral In Line Duane Pfennigwerth

Optimum Communications, Inc. (OPTU) Company Updates

Takeaways from Management Meeting Following 1Q26 On Holding AG (ONON)

Results Page 7

1Q26 Quick Take: Strong Profitability, Key Revenue