Don't 'MIST' This Paradigm Shift; Initiating Outperform

Research evidence excerpt

Don't 'MIST' This Paradigm Shift; Initiating Outperform

r coverage into three primary ratings categories, with the

following return guidelines:

Outperform- the total forecasted return is expected to be greater than the expected total return of the analyst's coverage sector.

In Line- the total forecasted return is expected to be in line with the expected total return of the analyst's coverage sector.

Underperform- the total forecasted return is expected to be less than the expected total return of the analyst's coverage sector.

Coverage Suspended- the rating and target price have been removed pursuant to Evercore lSI policy when Evercore is acting in an advisory

capacity in a merger or strategic transaction involving this company and in certain other circumstances.*

Rating Suspended- Evercore lSI has suspended the rating and target price for this stock because there is not sufficient fundamental basis for

determining, or there are legal, regulatory or policy constraints around publishing, a rating or target price. The previous rating and target price, if

any, are no longer in effect for this company and should not be relied upon.*

*Prior to October 10, 2015, the "Coverage Suspended" and "Rating Suspended" categories were included in the category "Suspended."

FlNRA requires that members who use a ratings system with terms other than "Buy," "Hold/Neutral" and "Sell" to equate their own

ratings to these categories. For this purpose, and in the Evercore lSI ratings distribution below, our Outperform, In Line, and

Underperform ratings can be equated to Buy, Hold and Sell, respectively.

Evercore lSI rating (as of 05/25/2026)