“Two thirds of the portfolio work is behind us. What remains is the harder two thirds of the value.”
9Supply chain
Raw material exposure
Commitment extracted
“Roughly a third of our input cost sits with fewer than five suppliers.”
35Operations
Regulatory horizon
The 2027 restriction threshold is on their own roadmap slide, dated.
21 slides read and set aside · Agenda, disclaimers, financial appendix and segment boilerplate. Nothing in them changed a play, a signal or a commitment.