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Ryan Pirnat

Managing Director at KeyBanc Capital Markets

Ryan Pirnat is a Managing Director at KeyBanc Capital Markets, specializing in the Power, Utilities, and Renewable Energy sectors, where he provides investment banking services to prominent clients such as American Electric Power, Xcel Energy, South Jersey Industries, Copenhagen Infrastructure Partners, JPMorgan IIF, and PNM Resources. With more than 25 years of experience, he has successfully executed a wide array of financing, capital markets, and advisory transactions, leveraging deep expertise in corporate finance and capital markets. Pirnat began his career at Ernst & Young as a business analyst, held leadership roles at PNC Financial Services, and has been with KeyBanc since 2003, returning in 2017 after a stint at PNC. He holds a BS in Finance from Miami University and an MS in Finance and International Business from Aarhus University, and is recognized for his mentorship and client relationship skills, though specific quantitative performance rankings and securities license details are not publicly available.

Ryan Pirnat's questions to DuPont de Nemours (DD) leadership

Question · Q3 2025

Ryan Pirnat asked for additional color on the healthcare business, specifically on the medical device space, following discussions about medical packaging and biopharma. He also inquired about the outlook for the construction market, given ongoing softness.

Answer

Lori Koch, CEO, expressed excitement about healthcare and water, noting strong performance across Livio (biopharma) and medical packaging, with nice growth also seen in the medical device space. She announced a new leader for the healthcare business. Antonella Franzen, Chief Financial Officer, reiterated that the shelter business (tied to construction) was down about 4% organically for the year, with expectations for a second-half 2026 recovery, and that even normalizing to flat would provide a nice lift.

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Question · Q3 2025

Ryan Pirnat requested additional color on the healthcare business performance, specifically in medical packaging, biopharma, and the medical device space, and inquired about the outlook for the construction market into 2026.

Answer

CEO Lori Koch expressed excitement for healthcare and water, noting strong mid-to-high single-digit growth in healthcare, driven by Liveo (biopharma) and medical packaging, with nice growth also seen in the med device space. CFO Antonella Franzen stated that the shelter business was down about 4% organically in 2025, with expectations for a slight improvement to flat in 2026, potentially providing a nice lift.

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