COMP <GO>

HCMA vs CVEO // 10Y YIELD & FRED MACRO BETA

HCM III Acquisition Corp. Class A Ordinary Share (NASDAQ) VS. Civeo Corporation (Canada) (NYSE) • 15-METRIC TALLY: HCMA 1 — CVEO 2

■ METRIC PARITY

LAST: $10.32 (0.00%) • MKT CAP: $400.5M

macro-sensitivity

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LAST: $30.55 (+1.09%) • MKT CAP: $315.8M

macro-sensitivity

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

INSTITUTIONAL METRIC	HCMA	CVEO	SPREAD (A - B)	ADVANTAGE	DEDICATED URL
Gross Profit Margin	—	23.70%	—	TIE	/gross-margins <GO>
Return on Invested Capital (ROIC)	—	0.90%	—	TIE	/roic <GO>
EV/EBITDA & P/E Valuation	—	22.8x	—	TIE	/valuation <GO>
Free Cash Flow Yield	—	0.68%	—	TIE	/fcf-yield <GO>
Operating Margin	—	0.60%	—	TIE	/operating-margins <GO>
Net Profit Margin	—	-3.10%	—	TIE	/net-margins <GO>
Revenue Growth (YoY)	—	-6.30%	—	TIE	/revenue-growth <GO>
Dividend Yield & FCF Payout Safety	0.00%	1.09%	-1.09	CVEO	/dividend-safety <GO>
Altman Z-Score & Debt/Equity	—	0.20	—	TIE	/balance-sheet <GO>
Piotroski F-Score Quality	—	5/9	—	TIE	/piotroski-score <GO>
Options Implied Move & Put/Call Skew	—	—	—	TIE	/options-implied-move <GO>
RSI-14 & 200D SMA Momentum	63.5	69.4	-5.90	CVEO	/rsi-technicals <GO>
10Y Yield & FRED Macro Beta ACTIVE	—	—	—	TIE	/macro-sensitivity <GO>
Forward P/E Multiple	—	—	—	TIE	/forward-pe <GO>
Enterprise Scale & Market Cap	$400.5M	$315.8M	$84.8M	HCMA	/market-cap <GO>

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

FISCAL YEAR	HCMA REV	CVEO REV	HCMA GROSS %	CVEO GROSS %	HCMA FCF	CVEO FCF
FY 2025	$0	$638.8M	—	23.7%	—	$2.1M
FY 2024	—	$682.1M	—	21.9%	—	$57.4M
FY 2023	—	$700.8M	—	—	—	$96.6M

FRED MACRO REGIME CORRELATION COMPARISON PEARSON r

HCMA // BETA —

CVEO // BETA —