Nabors Industries Ltd.

Good morning and welcome to AMBER International Fiscal Year 2025 Financial Results. At this time, all participants are in a listen-only mode. A question and answer session will follow the formal presentation. If anyone should require operator assistance during the call, please press star zero on your telephone keypad. As a reminder, this conference is being recorded. It is now my pleasure to introduce your host, Mia, AMBER Premium's Official Agent Phi Ambassador. Mia, you may begin.

Good morning, and welcome to AMBER International Holding Limited's fourth quarter and full year 2025 earnings call. I am Mia, AMBER Premium's Official Agent Phi Ambassador, and your moderator today. Before we begin, please note that today's discussion may contain forward-looking statements within the meaning of U.S. federal securities laws. These statements involve risks and uncertainties that could cause actual results to differ materially. For a more detailed description of these and other risks and uncertainties, please refer to our filings with the Securities and Exchange Commission. Joining us on today's call are Michael Wu, Chairman of the Board and CEO, who will share our full year overview strategic vision, and AI initiatives. Vicky Wong, president, who will focus on our core business updates, client platform performance, and future focuses. Yi Bao, chief product officer, who will update us on our regulatory update and platform evolution. Josephine Guy, financial officer, who will review our financial results and provide guidance. And Steve Jong, our head of capital markets. Following their remarks, we will open the line for Q&A. With that, let me now turn the call over to Michael Wu, our chairman of the board and CEO.

Thank you, Mia, and thank you all for joining us today. The full year 2025 marked a pivotal chapter for Ember International, a year in which we proved the durability and the scalability of our business model against a challenging macroeconomic backdrop. First, I want to address the broader macroeconomic landscape and what we have achieved amid this environment. We clearly acknowledge the industry headwinds. The total market cap of crypto decreased by approximately 25% in the fourth quarter alone, cooling to approximately $3 trillion by year end after briefly approaching $4 trillion in October. However, we're highly encouraged by the financial resilience of our business has demonstrated despite this volatility. We generated 66.1 million U.S. dollars in full year 2025 revenue. Our Amber premium segment generated 50.2 million U.S. dollars in revenue and successfully achieved our annual segment revenue guidance. This also represents a 572.1% increase compared to the 7.5 million US dollars Amber Premium segment revenue in 2024. In Q4 alone, we recorded 16.3 million US dollars in consolidated revenue, maintaining a stable quarter-over-quarter top line, despite the broader crypto market suffering a significant contraction during the same period. This is a definitive validation of our resilient institutionalized platform. Also, on an adjusted EBITDA basis, we achieved positive 4.7 million US dollars for the full year, which was a swing of 9.9 million US dollars from the 5.2 million US dollars lost in 2024. Ember International improved profitability against a challenging market backdrop. That is the financial story of 2025. Our financial results demonstrate the strength of our core. Ember Premium is Asia's leading digital wealth management platform. It serves the region's most sophisticated clients with a private banking experience built on technology and unmatched access. to digital asset opportunities. This business has proven to be profitable, resilient, and scalable. And it continues to set the foundation for our long-term strategy. On the business development side, I'm proud to share a major regulatory milestone. Our Dubai subsidiary, Amber Premium FDE, received a virtual asset services provider license from Barra on April 2nd, 2026, which formally authorized it to offer regulated virtual asset broker-dealer, asset management, investment, borrow and lending services to institutional and qualified investors in and from the Emirate of Dubai and the broader UAE. Built upon this progress, we'll continue to actively advance our licensing efforts in Hong Kong Yi will elaborate further on this achievement later. Now turning to our long-term vision and initiatives. As many of you may know, Amber's roots in AI dates back to our founding days as Amber AI in 2017. We believe the convergence of crypto and AI, two transformative technologies of our time, will fundamentally reshape finance, not only for humans, but also for the numerous AI agents that are arriving. In this emerging AI agent economy, digital assets become their economic and financial rails, and the financial services evolve from platforms into agent-native operating systems. And my ambition as Amber's founder CEO is not to add AI onto yesterday's products. It is rather to build the financial stack for what comes next, For that, we are actively developing a product suite called the A-Suite, which is a cohesive architecture of three AI-native operating systems that will not only power businesses like Amber Premium, but are engineered to intelligently coordinate liquidity, asset management, and asset distribution at scale. In Q1 2026, we will officially announce the first of these three operating systems, which will be an AI-native autonomous workflow engine for digital asset liquidity management. Over time, we anticipate this suite, the A-suite, will unlock new scalable revenue streams and significantly enhance our operating leverage in the quarters that will follow its launch. We are also executing a comprehensive AI roll-up within our businesses today. We have began integrating Mia, our first in-house developed AI agent, and also your host today, into our marketing and enterprise solution segment, or what was known externally as our iClick business. Externally, Mia manages content generation, social media consistency, and investor engagement. Internally, Mia has lived in our Slack workspace as a proactive teammate, accelerating workflows via a proprietary skill hub and secure internal database. These are much more than just productivity gains or cost-cutting initiatives. We want to use Mia's AI roll-up success on iClick as a proof case that our in-house technology and innovation abilities can fundamentally upgrade traditional businesses, improve client experience, reduce unit cost, and sharpen our competitive edge in ways that cannot easily be replicated. Finally, as part of our commitment to maximizing shareholder value, our board authorized the purchase of up to $50 million of our Amber ADS over a 12-month period commencing December 1, 2025. Our approach is disciplined. measured, and also optimistic. We try to balance shareholder returns with capital requirements for A-suite development and the platform expansion. I'm pleased to report that during fiscal year 2025, the company repurchased 516,703 ADS under the program. And approximately 49.1 million US dollars remain available for future purchases. providing significant capacity for opportunistic repurchases alongside continued growth investments. We're committed to executing our transition toward higher margin, predictable platform revenue, and in the long term, building the financial stack for this AI agent economy. And we believe our capital allocation strategy, including the repurchase program, reflects that long term commitment. 2025 was a year that validated our strategy through the success case of Amber Premium. 2026 is the year we scale it and propel forward with bold technology and innovations. Thank you. I will now pass to Vicky.