COMP <GO>

BNT vs HSBC // 10Y YIELD & FRED MACRO BETA

Brookfield Wealth Solutions Ltd. Class A Exchangeable Limited Voting Shares (NYSE) VS. HSBC Holdings plc. (NYSE) • 15-METRIC TALLY: BNT 2 — HSBC 3

■ METRIC PARITY

BNT — Brookfield Wealth Solutions Ltd. Class A Exchangeable Limited Voting Shares ROARABLE D • RQD 47/100

LAST: $41.34 (+5.43%) • MKT CAP: $13.25B

DES <GO> FA <GO> 10-K RED <GO>

macro-sensitivity

—

HSBC — HSBC Holdings plc. ROARABLE D • RQD 51/100

LAST: $85.91 (+0.57%) • MKT CAP: $293.28B

DES <GO> FA <GO> 10-K RED <GO>

macro-sensitivity

0.92

15-METRIC INSTITUTIONAL SIDE-BY-SIDE SCORECARD (BNT VS. HSBC) EMERALD CELL = QUANTITATIVE EDGE

INSTITUTIONAL METRIC	BNT	HSBC	SPREAD (A - B)	ADVANTAGE	DEDICATED URL
Gross Profit Margin	—	—	—	TIE	/gross-margins <GO>
Return on Invested Capital (ROIC)	—	9.90%	—	TIE	/roic <GO>
EV/EBITDA & P/E Valuation	—	21.0x	—	TIE	/valuation <GO>
Free Cash Flow Yield	19.60%	2.21%	+17.39	BNT	/fcf-yield <GO>
Operating Margin	—	13.90%	—	TIE	/operating-margins <GO>
Net Profit Margin	—	10.90%	—	TIE	/net-margins <GO>
Revenue Growth (YoY)	-17.50%	23.10%	-40.60	HSBC	/revenue-growth <GO>
Dividend Yield & FCF Payout Safety	0.00%	0.00%	0.00	TIE	/dividend-safety <GO>
Altman Z-Score & Debt/Equity	—	—	—	TIE	/balance-sheet <GO>
Piotroski F-Score Quality	2/9	8/9	-6.00	HSBC	/piotroski-score <GO>
Options Implied Move & Put/Call Skew	—	—	—	TIE	/options-implied-move <GO>
RSI-14 & 200D SMA Momentum	61.5	28.0	+33.50	BNT	/rsi-technicals <GO>
10Y Yield & FRED Macro Beta ACTIVE	—	0.92	—	TIE	/macro-sensitivity <GO>
Forward P/E Multiple	—	27.6x	—	TIE	/forward-pe <GO>
Enterprise Scale & Market Cap	$13.25B	$293.28B	-$280.02B	HSBC	/market-cap <GO>

5-YEAR HISTORICAL XBRL REVENUE & MARGIN TRAJECTORY SEC FORM 10-K FY

FISCAL YEAR	BNT REV	HSBC REV	BNT GROSS %	HSBC GROSS %	BNT FCF	HSBC FCF
FY 2025	$11.63B	—	—	—	$2.61B	—
FY 2024	$14.10B	—	—	—	$4.57B	—
FY 2023	$6.91B	—	—	—	$1.51B	—

FRED MACRO REGIME CORRELATION COMPARISON PEARSON r

BNT // BETA —

HSBC // BETA 0.92