FirstLook

Research evidence excerpt

FirstLook

June 11, 2026

First Look

Machinery Evercore ISI Focus

China dealer contacts quick nugget - China AI/datacenter

Food & Restaurants buildout strengthening overall 2027 China construction

Evercore Consumer & Retail Conference Takeaways Page 3 outlook Page 8

David Palmer David Raso

Global Retailing, Softlines & Luxury Brands Industrials Data

Live, from New York! Key Insights from the 2026 Evercore Industrials Data Alert: N. America farm equip industry May

Consumer Conference Page 3 sales growth - weak for high hp tractors and combine

harvesters Page 9Michael Binetti

David Raso

AB Inbev (BUD)

Surface Transportation

5 Key takeaways from our CFO meetings with ABI and

industry feedback Page 4 Keeping Up With Capacity: No New News is Good News

Robert Ottenstein Outperform

Jonathan Chappell

Oracle Corporation (ORCL)

Lodging

Solid F4Q & FY27 Revenue Acceleration On Track Page 4

EVRISI RevPAR Tracker: US +5% for the week ended June

Kirk Materne Outperform 6th Page 10

Duane Pfennigwerth

Ecolab Inc. (ECL)

Cold Plates = Datacenter Razor Blades Page 5 Company Updates

Eric Boyes Outperform Vita Coco Company, Inc (COCO)

6 Key takeaways from our CEO meetings Page 10

Price Target Changes

Humana Inc (HUM)

HUM Divests Gentiva; Modest Tailwind to Adj EPS Page 6 AllianceBernstein Holding L.P. (AB)

Elizabeth Anderson In Line Decay Persists, Driven By Retail, Putting AB Behind the 2Q

Flow Pace Page 11

Industry Updates John Dunn Outperform

Energy Commodities Hinge Health, Inc. (HNGE)

Persistent Drawdowns in Crude Inventories Page 6 Notes from the Road - Movement Conf & New Guides/LT

Stephen Richardson Outlook Page 11

Elizabeth Anderson Outperform

Power & Utilities

Workin' The Lats: Oracle's RPO and Ramp Support Positive Abbott Laboratories (ABT)