Executive Summary

Our multidivisional strategy continues to deliver resilient growth across cyclical and defensive markets. Key highlights include the successful commercialization of next-generation fusion pilot plants, record-breaking satellite deployment velocity, and the launch of our unified enterprise AI platform across 22 subsidiaries.

Operating margins expanded to 18.7%, reflecting disciplined capital allocation, supply chain optimization, and cross-divisional technology transfer efficiencies. We remain committed to sustainable growth, long-term value creation, and operational excellence across all 400 entities.

Consolidated Financial Highlights

All figures in millions USD, except per share data.

Revenue growth was primarily driven by the Technology Division (+18.2%), Energy Division (+14.5%), and Aerospace & Defense (+11.8%). The Finance and Healthcare divisions maintained steady double-digit growth, while Real Estate and Logistics showed resilience amid macroeconomic headwinds.

Management's Discussion & Analysis (MD&A)

Operating Performance

Our integrated operating model continues to yield significant synergies. Cross-divisional R&D spending reached $12.1B in 2025, representing 12.8% of total revenue. This investment underpins our competitive moat in quantum computing, advanced materials, and autonomous systems.

Liquidity & Capital Resources

As of December 31, 2025, we maintained $28.4B in cash and short-term investments. We repurchased $4.2B of common stock and paid $2.8B in dividends. Our investment-grade credit rating (Aa3/AA-) reflects strong balance sheet fundamentals and consistent cash generation.

Outlook

For FY 2026, we expect revenue growth of 10-12%, driven by contracted government defense programs, commercial space infrastructure deployments, and enterprise AI adoption. We will continue to prioritize shareholder returns through disciplined capital deployment and strategic acquisitions.

Risk Factors

Investing in our common stock involves substantial risks. You should carefully consider the following factors:

• Regulatory & Compliance Exposure: Operating across 62 jurisdictions subjects us to complex, evolving regulatory frameworks, particularly in data privacy, aerospace, pharmaceuticals, and financial services.
• Geopolitical & Supply Chain Volatility: Global trade tensions, export controls, and regional conflicts may disrupt critical component sourcing and international project execution.
• Technology Obsolescence & Cyber Threats: Rapid innovation cycles require continuous R&D investment. Cyber incidents could compromise proprietary systems, customer data, or operational infrastructure.
• Integration Risk from M&A: Acquiring and integrating diverse businesses across industries presents cultural, operational, and financial integration challenges.
• Environmental & Climate Transition: Stricter emissions standards and carbon pricing mechanisms may impact legacy operations, though our green energy transition strategy mitigates long-term exposure.

Certifications & Compliance

Management certifies that the annual report fairly presents, in all material respects, the financial condition and results of operations of Aevum Zenth Conglomerate Inc.

All internal controls over financial reporting as of December 31, 2025, have been evaluated and deemed effective. No material weaknesses were identified during the fiscal year.

Signatures

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.

Dated: March 14, 2026