Month: September 2026

Three markets opened within the past 18 months accounted for 34.6% of total revenue; average system integration contract value doubled to $86,719

WUXI, China, Sept. 23, 2026 (GLOBE NEWSWIRE) — HUHUTECH International Group Inc. (Nasdaq: HUHU) (“HUHUTECH” or the “Company”), a system integration provider that designs and implements integrated facility management systems and industrial automation monitoring systems for the optoelectronic, semiconductor, telecom, and logistics industries, today reported financial results for the six months ended June 30, 2026. Total revenues increased 8.6% to $10.67 million from $9.82 million in the prior-year period. Operations in the United States, Germany, and Singapore, none of which generated revenue in the first half of 2025, contributed $3.69 million, or 34.6% of total revenue.

The period was the first full reporting half in which HUHUTECH recognized revenue from five countries. Revenue from the PRC grew 29.4% to $4.97 million. That growth, combined with the $3.69 million contributed by the three newest markets, offset a planned contraction in Japan, where revenue declined to $2.01 million from $5.98 million. The Company completed 104 system integration projects during the half, compared with 220 a year earlier, while the average contract price rose to $86,719 from $42,727, reflecting a shift toward fewer, substantially larger engagements.

Net loss for the half was $16.65 million, or $0.68 per basic and diluted share, compared with a net loss of $8.73 million, or $0.38 per share, a year earlier. Non-cash share-based compensation of $13.87 million and a $2.03 million provision for credit losses together accounted for $15.90 million of the reported loss. Excluding those two items, adjusted net loss was $0.75 million for the first half of 2026. See “Non-GAAP Financial Measure” below.

Yujun Xiao, Chief Executive Officer of HUHUTECH, commented:

“Eighteen months ago, every dollar of our revenue came from two countries. This half, five countries contributed, and our three newest markets delivered $3.69 million while still in their initial roll-out phase. We accepted a lower Japan revenue to fund that build-out, and we are now running larger contracts — the average system integration project we completed in the first half was roughly twice the size of a year ago. The expansion carries real cost, and it shows in our operating expenses. It also puts our engineering teams alongside customers in the regions where new semiconductor and optoelectronic capacity is actually being added.”

First Half 2026 Financial Highlights
(Six months ended June 30, 2026, compared with six months ended June 30, 2025)

• Total revenues of $10.67 million, up 8.6% from $9.82 million.
• Revenue from the United States, Germany, and Singapore was $3.69 million, compared with nil in the prior-year period.
• PRC revenue of $4.97 million, up 29.4% from $3.84 million.
• Product sales revenue of $1.65 million, up 294.4% from $0.42 million, and 15.4% of total revenue compared with 4.3%.
• Gross profit of $3.37 million, up 7.3% from $3.14 million. Gross margin of 31.6% compared with 32.0%.
• Average system integration contract price of $86,719, compared with $42,727.
• Net loss of $16.65 million, or $0.68 per basic and diluted share, compared with a net loss of $8.73 million, or $0.38 per share. The increase was driven principally by a $5.07 million increase in non-cash share-based compensation and a $2.00 million increase in provisions for credit losses.
• Adjusted net loss (non-GAAP) of $0.75 million, compared with adjusted net income of $0.10 million.
• Cash of $3.58 million and working capital of $4.20 million as of June 30, 2026.
• Gross proceeds of $3.0 million from a registered direct offering completed May 5, 2026.

Revenue
Total revenues were $10.67 million for the six months ended June 30, 2026, an increase of $0.85 million, or 8.6%, from $9.82 million in the prior-year period. Revenue from system integration projects was $9.02 million, a decrease of $0.38 million, or 4.1%, from $9.40 million, and represented 84.6% of total revenue compared with 95.7% a year earlier. The decline reflects the Company’s deliberate contraction of its Japanese operations, partially offset by initial project activity in the United States and Germany, where engagements remained in the early roll-out stage during the period.

Revenue from product sales was $1.65 million, an increase of $1.23 million, or 294.4%, from $0.42 million. The increase was driven by higher hardware content required within system integration engagements during the half.

Revenue by geography was as follows:

(US$)	Six Months Ended June 30, 2026	Six Months Ended June 30, 2025
PRC	4,967,410	3,838,722
Japan	2,005,202	5,978,750
United States	2,785,759	—
Germany	782,821	—
Singapore	124,074	—
Total revenues	10,665,266	9,817,472

Gross Profit and Gross Margin
Gross profit was $3.37 million, an increase of $0.23 million, or 7.3%, from $3.14 million. Gross margin was 31.6% compared with 32.0%. Gross profit from system integration projects was essentially unchanged at $3.09 million, with margin improving to 34.2% from 33.0% as the Company reduced its reliance on outsourced engineering. Gross profit from product sales increased to $0.28 million from $0.04 million, with a margin of 17.1% compared with 9.5%, reflecting the mix of hardware required by customers during the period.

Operating Expenses
Total operating expenses were $20.20 million, an increase of $8.45 million, or 71.9%, from $11.75 million.

General and administrative expenses were $19.44 million, an increase of $9.10 million, or 88.1%, from $10.33 million. The increase was attributable principally to a $5.07 million increase in non-cash share-based compensation, a $2.00 million increase in provisions for credit losses, and a $1.80 million increase in consulting and audit fees. On January 13, 2026, the Company issued 1,390,000 ordinary shares under its 2025 Equity Incentive Plan with a fair value of $13.87 million, based on a share price of $9.98 on the approval date. The comparable issuance in the prior-year period was 2,000,000 ordinary shares under the 2024 Equity Incentive Plan with a fair value of $8.80 million.

Selling expenses were $0.55 million, a decrease of $0.35 million, or 38.5%, from $0.90 million, driven primarily by a $0.4 million reduction in advertising expense.

Research and development expenses were $0.21 million, a decrease of $0.31 million, or 60.2%, from $0.52 million, and represented 1.9% of total revenue compared with 5.3%. The decrease was primarily due to reduced R&D headcount. The Company expects to allocate approximately 50% of its IPO proceeds to the construction of a 5,000-square-meter research and development plant in the Xinwu District of Wuxi City, Jiangsu Province, together with equipment for the production of gas supply systems.

Loss from Operations and Net Loss
Loss from operations was $16.83 million compared with $8.61 million. Total other expense, net, decreased to $4,411 from $55,459, principally reflecting a $50,000 reduction in foreign exchange losses and $30,000 of warehouse rental income, partially offset by a $23,000 increase in interest expense.
The Company recorded an income tax benefit of $180,361 compared with an income tax provision of $64,686 in the prior-year period. HUHU China renewed its “high-tech enterprise” tax status in December 2025; the certificate is valid for three years and expires in December 2028.

Net loss was $16.65 million, or $0.68 per basic and diluted share, compared with a net loss of $8.73 million, or $0.38 per share. Weighted average shares outstanding were 24,621,158 compared with 23,018,717.

Balance Sheet and Liquidity
As of June 30, 2026, the Company held cash of $3.58 million compared with $4.43 million as of December 31, 2025, and had working capital of $4.20 million. Total assets were $22.41 million and total shareholders’ equity was $7.48 million, compared with $22.36 million and $7.42 million, respectively, as of December 31, 2025. Accounts receivable, net, were $10.94 million compared with $9.25 million. Total bank loan balances were approximately $4.5 million, and the Company expects to renew the majority of these facilities.

Net cash used in operating activities was $3.36 million compared with $0.52 million in the prior-year period. Net cash used in investing activities was $0.06 million compared with $0.10 million. Net cash provided by financing activities was $2.26 million compared with net cash used of $0.04 million. It included $3.0 million of gross proceeds from the registered direct offering completed on May 5, 2026, consisting of 400,000 ordinary shares priced at $1.50 per share and pre-funded warrants to purchase up to 1,600,000 ordinary shares.

Subsequent to the end of the period, on August 18, 2026, the Company entered into a loan agreement with the Bank of Communications for $221,073 (RMB 1,500,000), maturing August 18, 2027, at a fixed annual interest rate of 2.20%.

Non-GAAP Financial Measure
In addition to results presented in accordance with U.S. GAAP, this release includes adjusted net loss, a non-GAAP financial measure defined as net loss excluding share-based compensation expense and provisions for credit losses. Management uses this measure to assess operating performance across periods without the effect of items that are non-cash or that do not reflect the current-period operating cost of delivering projects. Adjusted net loss should not be considered in isolation or as a substitute for net loss prepared in accordance with U.S. GAAP, and may not be comparable to similarly titled measures reported by other companies. A reconciliation to the most directly comparable GAAP measure is presented below.

(US$)	Six Months Ended June 30, 2026		Six Months Ended June 30, 2025
Net loss (GAAP)	(16,651,680	)	(8,731,241	)
Add: Share-based compensation	13,872,200		8,800,000
Add: Provision for credit losses	2,027,423		30,265
Adjusted net (loss) income (non-GAAP)	(752,057	)	99,024

About HUHUTECH International Group Inc.
HUHUTECH International Group Inc. (Nasdaq: HUHU) is a professional system integration provider that designs and implements integrated facility management systems and industrial automation monitoring systems for the optoelectronic, semiconductor, telecom, and logistics industries. Through its operating subsidiaries in the People’s Republic of China, Japan, the United States, Germany, and Singapore, the Company delivers customized fixed-price engagements spanning project planning, system coding, hardware installation and configuration, and also supplies related equipment. HUHU China holds a first-class construction enterprise qualification and maintains “high-tech enterprise” tax status in the PRC through December 2028. The Company is headquartered in Wuxi, Jiangsu Province, China. For more information, visit https://ir.huhutech.com.cn.

Forward-Looking Statements
This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, Section 21E of the Securities Exchange Act of 1934, as amended, and the Private Securities Litigation Reform Act of 1995. Forward-looking statements include, without limitation, statements regarding the Company’s expectations for its operations in the United States, Germany and Singapore; the anticipated contraction and future contribution of its Japanese operations; expected construction of a research and development plant in Wuxi and the use of IPO proceeds; anticipated renewal of bank facilities; the expected sufficiency of cash on hand and operating cash flows; and anticipated research and development spending. These statements are identified by words such as “expect,” “anticipate,” “believe,” “intend,” “plan,” “will,” and similar expressions.

Forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause actual results, performance or achievements to differ materially from those expressed or implied. These factors include, among others, the Company’s ability to secure and complete system integration contracts; customer concentration and the collectability of accounts receivable; competitive conditions in the optoelectronic, semiconductor, telecom and logistics end markets; the pace of customer adoption in newly entered geographies; the Company’s ability to obtain and renew bank financing; currency exchange fluctuations and PRC restrictions on the conversion and remittance of RMB; changes in PRC, Japanese, U.S., German and Singaporean law, taxation and trade policy; and the additional risks described under “Item 3.D. Risk Factors” in the Company’s annual report on Form 20-F filed with the U.S. Securities and Exchange Commission. Copies are available at www.sec.gov. Except as required by law, the Company undertakes no obligation to update or revise any forward-looking statement, whether as a result of new information, future events, or otherwise.

Company Contact
Email: ir@huhutech.com
Website: www.huhutech.com

Investor Relations Contact
Matthew Abenante, IRC
President
Strategic Investor Relations LLC
Phone: +1 (347) 947-2093
Email: matthew@strategic-ir.com
Web: www.strategic-ir.com

(Financial Tables Follow)

HUHUTECH INTERNATIONAL GROUP INC. AND SUBSIDIARIES UNAUDITED CONDENSED CONSOLIDATED BALANCE SHEETS (Expressed in U.S. dollars)
	As of June 30, 2026			As of December 31, 2025
ASSETS
CURRENT ASSETS:
Cash	$	3,577,685		$	4,428,602
Restricted cash		—			300,296
Short-term investment		55,961			—
Note receivable		—			86,149
Accounts receivable, net		10,935,867			9,249,042
Accounts receivable – a related party		75,862			516,290
Inventories		651,413			1,103,685
Advance to vendors		1,022,219			1,215,220
Prepayments and other assets, net		410,785			295,738
Due from related parties		—			2,292
TOTAL CURRENT ASSETS		16,729,792			17,197,314
Property, plant and equipment, net		3,996,244			4,277,525
Intangible assets, net		23,918			45,115
Deferred tax assets		1,094,343			684,847
Right-of-use assets, net		563,209			159,685
TOTAL ASSETS	$	22,407,506		$	22,364,486
LIABILITIES AND SHAREHOLDERS’ EQUITY
CURRENT LIABILITIES:
Short-term bank loans	$	2,577,707		$	3,359,025
Long-term bank loan – current		109,786			230,397
Loan payable from third party		500,000			500,000
Accounts payable		4,442,717			5,390,732
Due to a related party		403,317			—
Advance from customers		2,555,789			1,698,526
Accrued expenses and other liabilities		793,315			801,422
Taxes payable		1,167,758			884,694
Operating lease liabilities – current		205,792			142,076
TOTAL CURRENT LIABILITIES		12,756,181			13,006,872
Long-term bank loans		1,811,476			1,919,974
Operating lease liabilities – non-current		361,763			22,582
TOTAL LIABILITIES		14,929,420			14,949,428
SHAREHOLDERS’ EQUITY:
Ordinary shares, $0.0000025 par value; 26,785,848 and 24,103,749 shares issued and outstanding		66			60
Share to be issued		1			—
Additional paid-in capital		39,922,538			23,050,345
Statutory reserves		343,077			343,077
Accumulated deficit		(31,969,471	)		(15,317,791	)
Accumulated other comprehensive loss		(818,125	)		(660,633	)
TOTAL SHAREHOLDERS’ EQUITY		7,478,086			7,415,058
TOTAL LIABILITIES AND SHAREHOLDERS’ EQUITY	$	22,407,506		$	22,364,486

HUHUTECH INTERNATIONAL GROUP INC. AND SUBSIDIARIES UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE LOSS (Expressed in U.S. dollars)
	Six Months Ended June 30, 2026			Six Months Ended June 30, 2025
Revenues – third parties	$	10,603,305		$	9,337,289
Revenues – related party		61,961			480,183
Total revenues		10,665,266			9,817,472
Cost of revenues – third parties		7,255,457			6,533,648
Cost of revenues – related party		41,722			144,628
Total cost of revenues		7,297,179			6,678,276
Gross profit		3,368,087			3,139,196
Operating expenses:
Selling expenses		553,441			899,367
General and administrative expenses		19,435,356			10,330,446
Research and development expenses		206,920			520,479
Total operating expenses		20,195,717			11,750,292
Loss from operations		(16,827,630	)		(8,611,096	)
Other income (expense):
Interest income		14,127			6,736
Interest expense		(87,511	)		(64,246	)
Other income, net		68,973			2,051
Total other expense, net		(4,411	)		(55,459	)
Loss before income taxes		(16,832,041	)		(8,666,555	)
(Benefit) provision for income taxes		(180,361	)		64,686
Net loss		(16,651,680	)		(8,731,241	)
Comprehensive loss:
Foreign currency translation adjustments		(157,492	)		347,485
Comprehensive loss	$	(16,809,172	)	$	(8,383,756	)
Loss per share – basic and diluted	$	(0.68	)	$	(0.38	)
Weighted average shares outstanding – basic and diluted		24,621,158			23,018,717

HUHUTECH INTERNATIONAL GROUP INC. AND SUBSIDIARIES UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Expressed in U.S. dollars)
	Six Months Ended June 30, 2026			Six Months Ended June 30, 2025
Cash flows from operating activities:
Net loss	$	(16,651,680	)	$	(8,731,241	)
Adjustments to reconcile net loss to net cash used in operating activities:
Depreciation and amortization		143,137			169,951
Provision for credit losses		2,027,423			30,265
Deferred tax benefit		(394,377	)		(191,703	)
Amortization of operating lease right-of-use assets		106,613			73,034
Loss from disposal of property, plant and equipment		661			—
Share-based compensation		13,872,200			8,800,000
Fair value change in marketable securities		825			—
Changes in operating assets and liabilities:
Accounts receivable		(3,474,539	)		(1,375,962	)
Accounts receivable – related party		451,116			(938,394	)
Notes receivable		87,789			249,223
Inventories		476,977			211,917
Prepayments and other assets		(105,905	)		(98,286	)
Advance to vendors		227,615			(195,164	)
Accounts payable		(1,041,866	)		467,452
Accrued expenses and other liabilities		(27,048	)		645,080
Advance from customers		796,926			591,122
Taxes payable		254,819			(157,026	)
Operating lease liabilities		(107,383	)		(73,671	)
Net cash used in operating activities		(3,356,697	)		(523,403	)
Cash flows from investing activities:
Additions to property, plant, and equipment		—			(93,665	)
Additions to intangible assets		—			(5,236	)
Short-term investment		(56,155	)		—
Net cash used in investing activities		(56,155	)		(98,901	)
Cash flows from financing activities:
Advances from related parties		762,924			261,158
Loan (repayment to) proceeds from third-party		(500,000	)		500,000
Private placement		3,000,000			—
Repayments of bank acceptance notes payable		—			(550,559	)
Proceeds from short-term bank loans		1,748,659			5,403,440
Repayment of short-term bank loans		(2,622,989	)		(7,995,277	)
Proceeds from long-term bank loans		—			2,412,000
Repayment of long-term bank loans		(132,320	)		(74,088	)
Net cash provided by (used in) financing activities		2,256,274			(43,326	)
Effect of exchange rate changes on cash and restricted cash		5,365			378,523
Net decrease in cash and restricted cash		(1,151,213	)		(287,107	)
Cash and restricted cash at beginning of period		4,728,898			3,323,126
Cash and restricted cash at end of period	$	3,577,685		$	3,036,019

Company Intends to Use Proceeds to Acquire SOL

AUSTIN, TX, Sept. 23, 2026 (GLOBE NEWSWIRE) — Forward Industries, Inc. (NASDAQ: FWDI) (the “Company” or “Forward”), the leading Solana treasury company, today announced that it has entered into a securities purchase agreement with an institutional investor for the purchase and sale of 3,125,000 shares of the Company’s common stock at a price of $8.00 per share.

Aggregate gross proceeds are expected to be approximately $25 million, before fees and deducting placement agent fees and other estimated offering expenses. The offering is expected to close on or about September 24, 2026, subject to customary closing conditions. Forward intends to use the net proceeds to acquire additional SOL to grow the absolute size of its SOL treasury while the Company increases SOL per fully diluted share.

“This financing is designed to expand Forward’s SOL treasury while increasing SOL per share – the measure of growth that matters most to our shareholders. It strengthens our ability to extend our competitive lead, pursue opportunities from a position of financial strength, and build long-term shareholder value. Our focus remains on disciplined capital allocation and translating treasury growth into meaningful value for our shareholders,” said Ryan Navi, Chief Investment Officer of Forward Industries.

A.G.P./Alliance Global Partners is acting as sole placement agent for the offering.

The shares are being offered pursuant to the Company’s effective shelf registration statement on Form S-3ASR (File No. 333-290312), which was declared effective by the Securities and Exchange Commission (“SEC”) on September 17, 2025. A prospectus supplement relating to the offering will be filed with the SEC and will be available on the SEC’s website at www.sec.gov. Additionally, when available, electronic copies of the prospectus supplement and the accompanying prospectus may be obtained from A.G.P./Alliance Global Partners, 590 Madison Avenue, 28th Floor, New York, NY 10022, or by telephone at (212) 624-2060, or by email at prospectus@allianceg.com.

About Forward Industries, Inc.

Forward Industries, Inc. (NASDAQ: FWDI) is a Solana focused digital asset treasury company, with the strategy to buy, hold, stake, trade, invest in, and grow SOL and SOL related digital assets, protocols and businesses. Forward’s mission is to expand and strengthen the Solana ecosystem by acquiring and staking SOL and engaging with, providing tools to and investing in the Solana network, Solana developers and Solana related projects in order to increase shareholder value. In connection with a private placement transaction in September 2025, Forward launched a digital asset treasury strategy supported by industry leading investors and operating partners including Galaxy Digital and Jump Crypto. For more information on the Company’s Solana treasury strategy, visit www.forwardindustries.com.

Forward Looking Statements

This press release includes forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These forward-looking statements generally can be identified by the use of words such as “anticipate,” “expect,” “plan,” “could,” “may,” “will,” “believe,” “estimate,” “forecast,” “goal,” “project,” and other words of similar meaning. These forward-looking statements address various matters including statements relating to the anticipated use of proceeds from the offering, the expected closing date of the offering, the expected impact of the offering on SOL per share, the Company’s plan for value creation and strategic advantages, and market size and growth opportunities. Each forward-looking statement contained in this press release is subject to risks and uncertainties that could cause actual results to differ materially from those expressed or implied by such statement. Applicable risks and uncertainties include, among others: failure to realize the anticipated benefits of the digital asset treasury strategy; changes in business, market, financial, political, and regulatory conditions; risks relating to the Company’s operations and business, including the highly volatile nature of the price of Solana and other cryptocurrencies and the incurrence of indebtedness; the risk that the price of the Company’s common stock may be highly correlated to the price of the digital assets that it holds; risks related to the performance and expected return of the companies and projects that the Company has invested in; risks related to increased competition in the industries and markets in which the Company does and will operate (including the applicable digital assets market); risks relating to significant legal, commercial, regulatory, and technical uncertainty regarding digital assets generally; risks relating to the treatment of crypto assets for U.S. and foreign tax purposes; as well as those risks and uncertainties identified in the Company’s filings with the Securities and Exchange Commission. The forward-looking statements in this press release speak only as of the date of this document, and the Company undertakes no obligation to update or revise any of these statements. Investors should not place undue reliance on forward-looking statements.

Contacts
Media Contact
comms@forwardindustries.com

Investor Relations Contact
Sean Mansouri, CFA / Aaron D’Souza
Elevate IR
(720) 330-2829
ir@forwardindustries.com

Company targets approximately $60 million in annualized cost savings and positive Adjusted EBITDA by the end of H1 2027

NEW YORK, Sept. 23, 2026 (GLOBE NEWSWIRE) — Rezolve Ai (NASDAQ: RZLV), a global leader in AI-powered commerce and engagement, today outlined a strategic operating program to reduce recurring costs and accelerate its path to profitability. Measures already implemented, together with lower exceptional expenditure, are expected to deliver substantially lower cash burn in H2 2026 compared with H1. 

The Company is targeting approximately $60 million in annualized cost savings from its cost reduction program. These savings are expected to drive the Company to positive Adjusted EBITDA exiting H1 2027. The savings target represents the expected annual benefit once the program is fully implemented, rather than savings necessarily realized within a single reporting period.

The Company has already reduced acquisition-related expenditure and implemented measures to lower marketing and external legal costs. Its broader operating program focuses on integrating acquired operations and improving efficiency. Furthermore, transitioning professional services delivery to partners including TCS and Tech Mahindra is expected to improve gross margins and support continued rapid growth.

Daniel M. Wagner, Chairman and CEO of Rezolve Ai, said:
“We have moved quickly to reduce spending and measures are already in place. We expect cash burn in the second half of this year to be substantially below the first half, reflecting both the actions we have taken and lower exceptional expenditure.

“H1 included fundraising fees, litigation settlements and the costs of integrating acquired businesses, including office closures and redundancies from the consolidation of overlapping functions. Alongside the reduction in those costs, we are addressing recurring expenditure across the Group.

“We expect to continue growing at extraordinary rates but we will not pursue growth at any cost. With cost reductions already implemented, our focus is on reaching positive adjusted EBITDA by the end of H1 2027 and materially reducing cash burn.”

Operating Priorities
The operating program addresses five principal areas:

• Cloud and technology infrastructure: optimizing capacity and usage, consolidating overlapping services and renegotiating supplier arrangements.
• Staffing and integration: removing duplication across acquired operations and aligning resources with customer requirements and revenue opportunities.
• Professional services: transitioning service delivery to partners including TCS and Tech Mahindra, with additional partners to be announced, to improve gross margins and support scalable growth.
• Property: consolidating offices and addressing surplus space inherited through acquisitions.
• Spending and capital allocation: focusing marketing on measurable commercial returns, tightening discretionary expenditure and applying greater selectivity to additional acquisitions.

The Company will continue investing in Rezolve Commerce, Rezolve Pay, Rezolve Reward and Rezolve Insight, together with brainpowa and the infrastructure supporting its platform.

Financial Targets and Outlook

Measure	Target or outlook
Annualized cost savings	Approximately $60 million once fully implemented
H2 2026 cash burn¹	Expected substantially below H1 2026 following implemented cost reductions and lower exceptional costs.
Adjusted EBITDA	Positive when exiting H1 2027
Adjusted EBITDA margin improvement	At least 24.9 percentage points: June 2027 target versus H1 2026

¹ For this comparison, cash burn means cash excluding capitalization, share based compensation, restructuring costs and acquisition costs calculated consistently for H1 and H2 2026.

The Company targets positive Adjusted EBITDA for the month ending June 30, 2027. Compared with the Adjusted EBITDA margin of negative 24.9% in H1 2026, achieving a positive margin in that month would represent an improvement of at least 24.9 percentage points. This is an exit-period target rather than a forecast of positive Adjusted EBITDA for H1 2027 as a whole. Adjusted EBITDA profitability and operating cash-flow breakeven are separate milestones.

First-Half Expenditure and Liquidity
H1 2026 cash expenditure included fundraising fees, litigation settlements and costs associated with integrating acquired businesses, including office closures and staff redundancies. These items contributed to elevated cash usage during the period and should be distinguished from the ongoing cost of operating the business.

The operating plan addresses recurring expenditure alongside the reduction in exceptional costs with the objective of establishing a substantially more efficient cost base as revenue grows.

“Our priorities are straightforward: grow revenue, reduce cash burn and reach profitability,” Wagner added. “We have built the platform and the distribution. We are now focused on delivering the financial performance that shareholders expect.”

Investor Day: October 6, 2026
Rezolve Ai reminds investors that its Investor Day will take place on October 6, 2026. Register here: https://edge.media-server.com/mmc/p/hz8x6poa/

About Rezolve Ai
Rezolve Ai is a global leader in AI-powered commerce and engagement. Its technology helps retailers, brands, financial institutions and commerce platforms create intelligent, personalized customer experiences across search, discovery, engagement and transaction journeys.

Rezolve Ai’s platform is designed to connect consumers, merchants, banks and payment providers through intelligent commerce infrastructure that makes customer interactions more relevant, measurable and valuable. Through its AI-powered commerce capabilities and Reward’s financial engagement platform, Rezolve Ai is building the infrastructure for the next generation of personalized and agentic commerce.

Media Contact
Urmee Khan
Global Head of Communications
urmeekhan@rezolve.com
+44 7576 094 040

Adjusted EBITDA
Adjusted EBITDA is a non-GAAP measure that Rezolve uses to assess underlying operating performance. It represents EBITDA adjusted for certain non-cash, non-recurring and other items, including share-based compensation, foreign exchange effects, certain fair-value and financing-related items, and specified acquisition, restructuring and other one-time costs. Net income (loss) is the most directly comparable GAAP financial measure to forward-looking Adjusted EBITDA. The Company is unable to provide a quantitative reconciliation of Adjusted EBITDA to net income (loss) without unreasonable efforts because it cannot predict with sufficient certainty the type and extent of specific reconciling items that would be needed to provide such a reconciliation.

Forward-Looking Statements
This press release contains forward-looking statements within the meaning of applicable securities laws, including statements concerning the timing of Adjusted EBITDA profitability, expected cash burn, targeted annualized cost savings, Adjusted EBITDA margin improvement, gross-margin improvements and the implementation and expected benefits of the operating program and partner delivery arrangements.

These statements reflect management’s current expectations and assumptions and are subject to risks and uncertainties that could cause actual results to differ materially. These include revenue performance and the timing of customer receipts, the timing and costs of implementing operational changes, the achievement of anticipated efficiencies, partner execution, working-capital requirements, exceptional expenditure and other risks described in the Company’s filings with the Securities and Exchange Commission.

Forward-looking statements speak only as of the date of this release. Rezolve Ai undertakes no obligation to update them, except as required by law.

MALVERN, Pa., Sept. 23, 2026 (GLOBE NEWSWIRE) — Annovis Bio, Inc. (NYSE: ANVS) (“Annovis” or the “Company”), a Phase 3 clinical-stage biotechnology company developing the investigational oral therapy, buntanetap, for neurodegenerative diseases such as Alzheimer’s disease (AD) and Parkinson’s disease (PD), today announced a collaboration with Weave Bio, an AI platform for regulatory content and knowledge management, in support of the planned New Drug Application (NDA) for buntanetap.

Under the collaboration, Annovis will use Weave for drafting, reviewing and managing the NDA documents as the Company heads toward a 6-month top-line data readout from the pivotal Phase 3 AD trial – the data that will form the basis of the submission. Annovis’ regulatory and clinical teams will retain full responsibility for content, verification and final approval of every document submitted to the U.S. Food and Drug Administration (FDA).

“Our goal is to have most of the NDA ready before the data readout, so the path from the top-line results to filing is as short as possible,” said Eve Damiano, Senior VP, Regulatory Operations at Annovis. “Weave will let our regulatory team spend time on scientific judgment and strategy while providing essential assistance on assembling documents in a faster and more organized way. That is a meaningful advantage as we prepare a submission for an investigational therapy we believe has the potential to help millions of patients still waiting for a treatment that can change their lives.”

The collaboration follows the completion of enrollment in Annovis’ pivotal Phase 3 AD study (NCT06709014), which enrolled 862 biomarker-confirmed patients, exceeding the original target of 760. The Company aims to reach the database lock for the 6-month treatment period in December 2026, followed by the top-line symptomatic data announcement in March 2027.

“Annovis is exactly the kind of company our platform was built for – a team with deep scientific expertise, ambitious timelines, and a vision for the future of AI-driven drug development,” said Brandon Rice, CEO and co-founder of Weave Bio. “NDA submissions are not just about writing documents, they are about weaving years of scientific knowledge into a coherent, traceable narrative. We are privileged to help Annovis do that for a disease area that still has no effective treatment.”

Annovis and Weave Bio have aligned their approach around the FDA’s guidance on the use of AI to support regulatory decision-making, issued in January 2025, keeping regulatory professionals in control of AI-assisted drafting, extraction, traceability and review.

About Annovis
Headquartered in Malvern, Pennsylvania, Annovis Bio, Inc. (NYSE: ANVS) is a Phase 3 clinical-stage biotechnology company developing treatments for neurodegenerative diseases such as Alzheimer’s disease (AD) and Parkinson’s disease (PD). The Company’s lead drug candidate, buntanetap (formerly posiphen), is an investigational once-daily oral therapy that inhibits the translation of multiple neurotoxic proteins, including APP and amyloid beta, tau, alpha-synuclein, and TDP-43, through a specific RNA-targeting mechanism of action. By addressing the underlying causes of neurodegeneration, Annovis aims to halt disease progression and improve cognitive and motor functions in patients. For more information, visit www.annovisbio.com and follow us on LinkedIn, YouTube, and X.

Investor Alerts
Interested investors and shareholders are encouraged to sign up for press releases and industry updates by registering for email alerts at https://www.annovisbio.com/email-alerts.

Forward-Looking Statements
This press release contains forward-looking statements under the Securities Act of 1933 and the Securities Exchange Act of 1934, as amended. Actual results may differ due to various risks and uncertainties, including those outlined in the Company’s SEC filings under “Risk Factors” in its Annual Report on Form 10-K and Quarterly Reports on Form 10-Q. The Company undertakes no obligation to update forward-looking statements except as required by law.

Contact Information:
Annovis Bio Inc.
101 Lindenwood Drive
Suite 225
Malvern, PA 19355
www.annovisbio.com

Investor Contact:
Alexander Morin, Ph.D.
Director, Strategic Communications
Annovis Bio
ir@annovisbio.com

From its largest business accelerator cohort to-date to strengthening AI oversight policies, Fiverr is showcasing its expanded efforts, impact, and support for entrepreneurs and AI governance

NEW YORK, Sept. 23, 2026 (GLOBE NEWSWIRE) — Fiverr International Ltd. (NYSE: FVRR) released its 2025 Impact Report, highlighting how the company is helping shape a more inclusive, responsible and sustainable future of work. As artificial intelligence continues to transform how work is created and delivered, the report outlines how Fiverr is expanding access to economic opportunity, strengthening marketplace trust and governance, investing in its global community, and reducing its environmental impact.

“The world of work is changing faster than ever, driven by advances in AI and new technologies,” said Micha Kaufman, founder and CEO of Fiverr. “At Fiverr, we believe technology should expand human potential, not limit it. Throughout 2025, we continued to invest in the freelancers, entrepreneurs and communities that power our ecosystem, while strengthening the governance, trust and responsible innovation needed to help people succeed in the future of work.”

Highlights from the 2025 Impact Report include:

Creating Fair Economic and Social Opportunities

• Supported more than 50 nonprofit and community organizations through the Colors Foundation, with $1.2M in donations and over 480 employees contributing 2,900 volunteer hours
• Hosted 125 community events with 13.9K attendees
• Joined Pledge 1% which reinforces Fiverr’s commitment to community investment and social impact
• In 2025, Fiverr launched its fifth Future Collective cohort, supporting 15 entrepreneurs, before expanding the program to its largest cohort to date in 2026 with 22 participating founders
• Celebrated our fourth annual International Freelancer Day to honor and celebrate freelancers across the globe with a campaign featuring members of our community on digital billboards in Times Square
• Participated in the March of the Living, where we joined high-tech delegation leaders and employees in an international march in Poland
• Published the annual Freelance Economic Impact Report, Fiverr’s Next Gen of Work Report and the Business Trends Index 2026 providing data-driven insights into workforce trends, the future of freelancing and businesses’ growing adoption of AI

Marketplace Integrity and Ethics

• Zero data breaches reported globally
• Maintained ISO 27001, ISO 27701, and PCI DSS certifications
• Strengthened marketplace governance, compliance, and AI oversight practices through cross-functional policy and steering committees
• Hosted Cybersecurity Week to boost internal awareness

Empowering Our People

• 77% of employees participated in the 2025 annual engagement survey
• Achieved a 78% favorable score in the 2025 engagement survey
• 49.8% of global team identified as female, 46% of global management team identified as female and 29% female representation on the board of directors

Climate Change

• Reduced 2025 Scope 1 and 2 emissions by 28% as compared to 2024
• In 2025, 60% of the electricity consumed at our HQ was sourced from renewable energy
• Expanded recycling streams, increased recycling infrastructure, and promoted responsible waste disposal through company-wide awareness campaigns

For more details about these and other initiatives, please find the full report here.

About Fiverr
Fiverr’s mission is to transform the way the world creates and works together. We’re shaping the future of work with the world’s leading open platform, seamlessly connecting top talent and cutting-edge technology with businesses around the globe. From expert freelancers in over 750 skilled categories to best-in-class GenAI models and agents, Fiverr provides the most advanced and comprehensive talent and tools for digital services – helping businesses get mission-critical projects done fast and cost-effectively.

From small businesses to Fortune 500 companies, millions trust Fiverr for projects in software and AI development, digital marketing, finance, business consulting, video animation, music, architecture, and more.

Learn how to future-proof your business with exceptional talent and cutting-edge tools at fiverr.com. Follow us on LinkedIn, Instagram, TikTok, and Facebook.

Press Contacts
Jenny Chang
Madeleine Bendalin
press@fiverr.com

Accomplished finance and enterprise executive with over 20 years of global leadership in multinational and Fortune 500 companies

BRISBANE, Calif., Sept. 23, 2026 (GLOBE NEWSWIRE) — Tempest Therapeutics, Inc. (Nasdaq: TPST) (“Tempest”), a clinical-stage biotechnology company developing in vivo CAR-T therapies designed to reset dysfunctional immunity in cancer and autoimmune disease, today announced that Nancy Freda-Smith has been appointed to its board of directors and will serve as Chair of the Audit Committee.

“We are delighted to welcome Nancy to our board,” said Matt Angel, Ph.D., President and Chief Executive Officer of Tempest. “As an experienced board director and C-suite executive who has both led and advised global Fortune 500 companies, Nancy brings deep expertise in corporate governance, global finance, enterprise risk management, and large-scale transformation. Her strategic and operational acumen, along with experience spearheading financial and governance frameworks to support corporate objectives, will bring significant value to Tempest.”

Ms. Freda-Smith is a seasoned public company board director and senior finance and audit executive with more than 30 years of experience advancing corporate governance, financial reporting, enterprise risk management, and regulatory compliance across global organizations. She most recently served as Chief Audit and Risk Officer at Ralph Lauren where she led internal audit, Sarbanes-Oxley Act compliance, enterprise risk management, asset protection, cybersecurity resilience, and global control transformation across operations spanning over 30 countries and more than $7 billion in revenue. Previously, she served as an Independent Director and Audit Committee Member of Chuy’s Holdings, providing oversight during its acquisition by Darden Restaurants, including M&A execution, cybersecurity response, SEC disclosure, and financial risk management. Earlier, as Managing Director at Deloitte & Touche LLP, Ms. Freda-Smith advised Fortune 500 companies on SEC reporting, capital markets transactions, complex U.S. GAAP and IFRS matters, and audit quality. Her clients included companies across the pharmaceutical and life sciences sector among other industries. She is a Certified Public Accountant and Certified Fraud Examiner. Ms. Freda-Smith also holds a Bachelor of Science in Accounting from Boston College.

Ms. Freda-Smith added, “Tempest’s science and its differentiated approach to in vivo CAR-T are genuinely compelling, and I’m encouraged by the company’s efforts to broaden its pipeline and strategic partnerships, creating additional avenues for value creation. I look forward to bringing rigorous financial oversight and governance discipline to the board as Tempest works to execute on this next chapter, and to supporting the team in pursuit of that potential.”

About Tempest Therapeutics

Tempest is a clinical-stage biotechnology company developing next-generation in vivo CAR-T therapies for cancer and autoimmune disease. Tempest’s lead product candidate, TPST-4003, combines a clinically supported dual-targeting CD19/BCMA CAR structure with an advanced CD7-targeting delivery system to support broad immune reset across multiple indications. Tempest envisions a world in which immune reset therapies bring safe, effective, and broadly accessible therapeutic options to patients in need. For additional information, visit Tempest’s website at https://www.tempesttx.com.

Forward-Looking Statements

This press release contains forward-looking statements (including within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended, and Section 27A of the Securities Act of 1933, as amended, concerning Tempest. These statements may discuss goals, intentions, and expectations as to future plans, trends, events, results of operations or financial condition, or otherwise, based on current beliefs of the management of Tempest, as well as assumptions made by, and information currently available to, management of Tempest. Forward-looking statements generally include statements that are predictive in nature and depend upon or refer to future events or conditions, and include words such as “may,” “will,” “should,” “would,” “could”, “expect,” “anticipate,” “plan,” “likely,” “believe,” “estimate,” “project,” “intend,” “goal”, “suggest”, “target” and other similar expressions. All statements that are not historical facts are forward-looking statements, including but not limited to, statements regarding: the potential applicability of Tempest’s platform and product candidates across autoimmune and oncology indications; and Tempest’s ability to achieve its operational plans. All forward-looking statements in this press release are based on Tempest’s current expectations, estimates and projections about its industry as well as management’s current beliefs and expectations of future events only as of today and are subject to a number of risks and uncertainties that could cause actual results to differ materially and adversely from those set forth in or implied by such forward-looking statements. These risks and uncertainties include, but are not limited to Tempest’s need for additional capital to fund its planned programs and operations and to continue to operate as a going concern; unexpected safety or efficacy data observed during preclinical or clinical trials; the possibility that results from prior clinical trials and preclinical studies may not necessarily be predictive of future results; past results may not be indicative of future results; clinical trial site activation or enrollment rates that are lower than expected; loss of key personnel; changes in expected or existing competition; changes in the regulatory environment; risks relating to volatility and uncertainty in the capital markets for biotechnology companies; and unexpected litigation or other disputes. These and other factors that may cause actual results to differ from those expressed or implied are discussed in greater detail in the “Risk Factors” section of Tempest’s Annual Report on Form 10-K for the year ended December 31, 2025, filed with the Securities and Exchange Commission (“SEC”) on March 30, 2026, and in other documents filed by Tempest from time to time with the SEC. Except as required by applicable law, Tempest undertakes no obligation to revise or update any forward-looking statement, or to make any other forward-looking statements, whether as a result of new information, future events or otherwise. These forward-looking statements should not be relied upon as representing Tempest’s views as of any date subsequent to the date of this press release and should not be relied upon as prediction of future events. In light of the foregoing, investors are urged not to rely on any forward-looking statement in reaching any conclusion or making any investment decision about any securities of Tempest.

Investor Contacts:

Sylvia Wheeler
Wheelhouse Life Science Advisors
swheeler@wheelhouselsa.com

Aljanae Reynolds
Wheelhouse Life Science Advisors
areynolds@wheelhouselsa.com

New HO3, HO5, and HO6 products bring more choice and coverage options to South Carolina’s coastal market

TAMPA, Fla., Sept. 23, 2026 (GLOBE NEWSWIRE) — Slide Insurance Holdings, Inc. (“Slide” or the “Company”) (NASDAQ: SLDE) today announced an expanded suite of property insurance products available statewide in South Carolina, with a focus on bringing more choice and admitted capacity to the coast.

The expanded offerings, offered through Slide Specialty Insurance Company, include a new HO5 product designed for higher-value homes, plus new HO3 homeowners and HO6 condo products. All three feature expanded coverage options, additional discounts, and highly competitive rates, giving South Carolina homeowners greater flexibility to find coverage that fits their needs and budget.

South Carolina’s rapidly growing coastal communities need more home insurance options, particularly for larger and higher-value homes, where finding coverage can be challenging. Areas like Horry County, home to the Myrtle Beach area, have grown by more than 20% since 2020, according to U.S. Census Bureau population estimates, illustrating the growing demand for committed coastal capacity.

“Coastal property insurance is where Slide has a distinct advantage,” said Bruce Lucas, Chairman and Chief Executive Officer of Slide. “We’re deepening our commitment to South Carolina at a time when the coastal market is growing, and homeowners need more options. We have the underwriting technology, financial strength and experience to deploy capacity where we see attractive opportunities while maintaining a disciplined approach to risk.”

Slide has served South Carolina homeowners since 2022. Its product expansion in South Carolina advances the company’s strategy of disciplined growth and geographic diversification in property insurance markets where its underwriting and catastrophe risk management capabilities provide a competitive advantage.

South Carolina homeowners who are interested in learning more about Slide’s new coverage options can visit www.slideinsurance.com/sc.

Forward-Looking Statements

Statements in this press release that are not historical facts are forward-looking statements that are subject to certain risks and uncertainties that could cause actual events and results to differ materially from those discussed herein. In some cases, you can identify these statements by forward-looking words such as “may,” “might,” “will,” “should,” “expect,” “plan,” “anticipate,” “believe,” “aim,” “estimates,” “predicts,” “potential” or “continue,” the negative of these terms and other comparable terminology and relate, without limitation, to the Company’s beliefs and expectations regarding the Company’s projections of future financial performance including net margins and its share repurchase program and its ability to increase return on equity and build long-term value for shareholders. These statements are only predictions based on Slide’s current expectations and projections about future events and are not guarantees of actual results, level of activity, performance or achievements. Although Slide believes the expectations reflected in the forward-looking statements are based on reasonable assumptions, there are important factors that could cause the Company’s actual results, level of activity, performance or achievements to differ materially from those anticipated in any forward-looking statements, including, among others, our limited operating history; the success of the Company’s underwriting and profitability initiatives; inflation and other changes in economic conditions (including changes in interest rates and financial and real estate markets), including changes that may impact demand for our products and our operations; lack of effectiveness of exclusions and loss limitation methods in the insurance policies we assume or write; inherent uncertainty of our models and our reliance on such models as a tool to evaluate risk; the impact of macroeconomic conditions, including declining consumer confidence, inflation, high unemployment and the threat of recession; the impact of new federal and state regulations that affect the property and casualty insurance market and our failure to meet increased regulatory requirements, including minimum capital and surplus requirements; the cost of reinsurance, the collectability of reinsurance and our ability to obtain reinsurance coverage on terms and at a cost acceptable to us; assessments charged by various governmental agencies; pricing competition and other initiatives by competitors; our ability to obtain regulatory approval for requested rate changes, and the timing thereof; legislative and regulatory developments; the outcome of litigation pending against us, including the terms of any settlements; risks related to the nature of our business; performance of our investment portfolio; the adequacy of our liability for losses and loss adjustment expense; ratings by industry services; catastrophe losses; reliance on key personnel; weather conditions (including the severity and frequency of storms, hurricanes, tornadoes, wildfires and hail); acts of war and terrorist activities; court decisions and trends in litigation; and other matters described from time to time by us in our filings with the Securities and Exchange Commission. Any forward-looking statement made by Slide in this press release speaks only as of the date on which it is made. Slide undertakes no obligation to update any forward-looking statement, whether as a result of new information, actual results, revised expectations or otherwise, except as may be required by law.

About Slide

Slide Insurance Holdings, Inc. (NASDAQ: SLDE) is a Tampa-based specialty property insurer built for coastal and catastrophe-prone markets. Slide combines advanced technology with deep insurance expertise to maintain a disciplined approach to risk, bring additional capacity to the markets it serves along with its network of more than 5,000 independent agents, and provide a dependable, streamlined insurance experience to its policyholders. Slide ranks among the 25 largest U.S. homeowners insurance groups by direct written premium, according to the National Association of Insurance Commissioners (NAIC). For more information, visit slideinsurance.com.

Contacts

Investors
ir@slideinsurance.com

Media
Rachel Carr
Chief Marketing Officer
press@slideinsurance.com

Lille, Sept. 23, 2026 (GLOBE NEWSWIRE) — Top Wealth Group Holding Limited (NASDAQ: TWG)(“Top Wealth” or the “Company”), a leading supplier of premium sturgeon caviar and fine wine products, today announced a positive profit alert for the current financial year ending December 31, 2026.

The Company expects net profit attributable to ordinary shareholders for the current financial year to record an increase of no less than 100% compared to the previous financial year.

Key drivers of the expected profit growth include:

• Extensive corporate marketing of the Company’s position of a reputable regional supplier of premium wine and caviar, driving significant revenue growth.
• While engaging in long term sustainable growth in upstream vertical integration and acquisitions, the Company succeeded in selling its precious inventory of fine wines in the premium market to loyal clients and new clients. These sales not only resulting in increase in revenue but also maintaining a good gross margin.
• Enhanced operational efficiency and further realization of economies of scale.

As the Company is undergoing a strategic upward integration of its caviar business, the present year’s revenue contribution derived mainly from the premium wine section. The Company expects caviar and wine sectors will achieve more balanced growth in the future years.

The Company cautions that the above figures are preliminary estimates based on currently available information. Actual results may differ materially from these estimates due to market conditions and operational factors. The Company expects to disclose its audited full-year financial results in accordance with applicable Nasdaq rules and SEC requirements following the completion of the fiscal year.

About Top Wealth Group Holding Limited

Top Wealth Group Holding Limited is a holding company incorporated in the Cayman Islands, with all operations carried out through its operating subsidiary in Hong Kong, Top Wealth Group (International) Limited. The Company specializes in supplying premium-class sturgeon caviar, and its caviar and caviar products are endorsed with the Convention on International Trade in Endangered Species of Wild Fauna and Flora (“CITES”) permits. The Company supplies caviar to customers under customer brand labels (i.e. private labeling), and also sells under its own brand, “Imperial Cristal Caviar,” which has continuously achieved significant sales growth since its launch.

Safe Harbor Statement

This press release contains forward-looking statements. These statements are made under the “safe harbor” provisions of the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as “will,” “expects,” “anticipates,” “future,” “intends,” “plans,” “believes,” “estimates,” “confident” and similar statements. The Company may also make written or oral forward-looking statements in its periodic reports to the U.S. Securities and Exchange Commission, in its annual report to shareholders, in press releases and other written materials and in verbal statements made by its officers, directors or employees to third parties. Statements that are not historical facts, including but not limited to statements about the Company’s beliefs and expectations, are forward-looking statements. Forward looking statements involve inherent risks and uncertainties. A number of factors could cause actual results to differ materially from those contained in any forward-looking statement. Further information regarding these and other risks is included in the Company’s filings with the Securities and Exchange Commission. All information provided in this press release is as of the date of the press release, and the Company undertakes no duty to update such information, except as required under applicable law.

For more information, please contact:

Top Wealth Group Holding Limited
Investor Relations
Email: ir@topwealth.cc

MONTRÉAL, Sept. 23, 2026 (GLOBE NEWSWIRE) — Saputo Inc. (TSX: SAP) (“we”, “Saputo” or the “Company”) today announced an evolution of its organizational structure designed to strengthen the Company’s ability to execute its strategic priorities, enhance commercial execution within its ingredient business, accelerate enterprise transformation, and support continued expansion of its ingredients platform.

The changes reflect Saputo’s ongoing commitment to evolving its business to meet changing customer, consumer, and market needs while enhancing organizational agility and execution.

“As Saputo continues to evolve its portfolio and invest in growth opportunities, it is important that our organizational structure evolves alongside our business,” said Carl Colizza, President and Chief Executive Officer. “These changes are intended to increase organizational focus, strengthen accountability, and improve execution across key strategic priorities. This is about ensuring we have the right structure to support our future ambitions and create sustainable value for our stakeholders.”

New Ingredients Division

As demand for higher-value dairy ingredients continues to grow globally, Saputo is creating a dedicated Ingredients Division to accelerate innovation, strengthen commercial focus, and expand opportunities across global markets.

Steve Douglas has been appointed President and Chief Operating Officer, Ingredients, where he will be responsible for leading the division’s commercial, operational, innovation, and growth initiatives. Mr. Douglas will also remain President and Chief Operating Officer, Dairy Division (UK), until the completion of the previously announced sale of the Dairy Division (UK).

Enterprise Transformation

To support the Company’s continued evolution and accelerate the adoption of new technologies and ways of working, Saputo has created the role of Chief Enterprise Transformation Officer, to be led by Haig Poutchigian.

In this newly created role, Mr. Poutchigian will lead the integration of our business administration and operational finance, as well as information technology teams into a single enterprise services model.

The new structure is intended to improve consistency, visibility, and scalability across the enterprise. By bringing these capabilities together, Saputo expects to streamline processes, reduce complexity, improve coordination, and accelerate execution, while supporting productivity, automation, and data-driven decision-making across the enterprise.

Canadian Division

As part of its organizational evolution, Dave Paradis has been appointed President and Chief Operating Officer, Dairy Division (Canada). In this role, Mr. Paradis will lead Saputo’s Canadian operations, with a focus on advancing the division’s strategic priorities, strengthening commercial execution, enhancing customer partnerships, and driving operational excellence across the business.

Supporting the Next Phase of Growth

This organizational evolution reinforces several priorities that Saputo has communicated over recent years, including:

• Expanding value-added dairy and high-protein ingredients capabilities.
• Leveraging digital and AI-enabled technologies.
• Simplifying processes and improving execution.
• Supporting sustainable growth and value creation.

These organizational changes do not alter Saputo’s strategic priorities. Rather, they are intended to enhance focus, accountability, and execution across the business.

“Throughout our history, Saputo has continually evolved to meet the changing needs of our customers, consumers, and markets,” added Mr. Colizza. “These changes represent the next step in that evolution and will help ensure we remain well positioned to compete, grow, and create value in the years ahead.”

About Saputo
Saputo, one of the top ten dairy processors in the world, produces, markets, and distributes a wide array of dairy products of the utmost quality, including cheese, fluid milk, extended shelf-life milk and cream products, cultured products, and dairy ingredients. Saputo is a leading cheese manufacturer and fluid milk and cream processor in Canada, and a leading dairy processor in Australia. In the USA, Saputo is a leading cheese producer and extended shelf-life and cultured dairy products manufacturer. Until completion of the previously announced divestiture, , Saputo remains the leading manufacturer of branded cheese and dairy spreads in the United Kingdom. In addition to its dairy portfolio, Saputo produces, markets, and distributes a range of dairy alternative products. Saputo products are sold in several countries under market-leading brands, as well as private label brands. Saputo Inc. is a publicly traded company, and its shares are listed on the Toronto Stock Exchange under the symbol “SAP”. Follow Saputo’s activities at Saputo.com or via Facebook, Instagram, and LinkedIn.

Investors and other interested parties can stay informed of Saputo’s latest news and financial disclosures by subscribing to email alerts on the Company’s website at Saputo.com.

Investor Inquiries
Nicholas Estrela
Senior Director, Investor Relations
1-514-328-3117

Media Inquiries
1-514-328-3141 / 1-866-648-5902
media@saputo.com

CAUTION REGARDING FORWARD-LOOKING STATEMENTS

This news release contains statements which are forward-looking statements within the meaning of applicable securities laws. These forward-looking statements include, among others, statements with respect to our objectives, outlook, business projects, strategies, beliefs, expectations, targets, commitments, goals, ambitions and strategic plans including our ability to achieve these targets, commitments, goals, ambitions, strategic plans, and statements other than historical facts. The words “may”, “could”, “should”, “will”, “would”, “believe”, “plan”, “expect”, “intend”, “anticipate”, “estimate”, “foresee”, “objective”, “continue”, “propose”, “aim”, “commit”, “assume”, “forecast”, “predict”, “seek”, “project”, “potential”, “goal”, “target”, or “pledge”, or the negative of these terms or variations of them, the use of conditional or future tense or words and expressions of similar nature, are intended to identify forward-looking statements. All statements other than statements of historical fact included in this news release may constitute forward-looking statements within the meaning of applicable securities laws.

By their nature, forward-looking statements are subject to inherent risks and uncertainties. Actual results could differ materially from those stated, implied, or projected in such forward-looking statements. As a result, we cannot guarantee that any forward-looking statements will materialize, and we warn readers that these forward-looking statements are not statements of historical fact or guarantees of future performance in any way. Assumptions, expectations, and estimates made in the preparation of forward-looking statements and risks and uncertainties that could cause actual results to differ materially from current expectations are discussed in our materials filed with the Canadian securities regulatory authorities from time to time, including the “Risks and Uncertainties” section of the Management’s Discussion and Analysis dated June 4, 2026, available on SEDAR+ under the Company’s profile at www.sedarplus.ca.

Forward-looking statements are based on Management’s current estimates, expectations and assumptions. Management believes that these estimates, expectations, and assumptions are reasonable as of the date hereof, and are inherently subject to significant business, economic, competitive, and other uncertainties and contingencies regarding future events, and are accordingly subject to changes after such date. Forward-looking statements are intended to provide shareholders with information regarding Saputo, including our assessment of future financial plans, and may not be appropriate for other purposes. Undue importance should not be placed on forward-looking statements, and the information contained in such forward-looking statements should not be relied upon as of any other date.

Unless otherwise indicated by Saputo, forward-looking statements in this news release describe our estimates, expectations and assumptions as of the date hereof, and, accordingly, are subject to change after that date. Except as required under applicable securities legislation, Saputo does not undertake to update or revise forward-looking statements, whether written or verbal, that may be made from time to time by itself or on our behalf, whether as a result of new information, future events, or otherwise. All forward-looking statements contained herein are expressly qualified by this cautionary statement.

Photos accompanying this announcement are available at:
https://www.globenewswire.com/NewsRoom/AttachmentNg/596d7c44-ebdb-4559-93eb-679592fad9fd
https://www.globenewswire.com/NewsRoom/AttachmentNg/8c4ba4a3-2a0f-4195-8883-fa578fd78f1a
https://www.globenewswire.com/NewsRoom/AttachmentNg/2e8658ca-933e-4e03-bec3-44e711fdb06c
https://www.globenewswire.com/NewsRoom/AttachmentNg/31ead778-e59b-4aba-9ef8-3fdc8547c1bb

• Appointments support ProQR’s strategy to scale AI across the discovery and development of medicines using its Axiomer RNA editing platform and pipeline
• AX-0811, the first ProQR program identified through its AI-enabled discovered engine in clinical testing, with target engagement data expected in early January 2027
• ProQR’s expanded AI strategy is directly supporting the ongoing development programs; the Company expects up to 5 clinical data readouts over the next 12 months across 4 development programs

LEIDEN, Netherlands & CAMBRIDGE, Mass., Sept. 23, 2026 (GLOBE NEWSWIRE) — ProQR Therapeutics N.V. (Nasdaq: PRQR) (ProQR), a clinical-stage company dedicated to changing lives through transformative RNA therapies based on its proprietary ADAR-mediated Axiomer™ RNA editing technology platform, today announced the appointments of:

• Chris Hart, PhD, Chief Data and AI Officer – Dr. Hart most recently served as Vice President of Data Science and AI/ML at Eli Lilly and Company.
• Thomas Wolf, PhD, Board of Directors as strategic AI advisor – Dr. Wolf is co-founder and Chief Science Officer of Hugging Face, which Nvidia has recently agreed to acquire.

“I am thrilled to welcome Chris to ProQR’s management team and Thomas to the Board of Directors as strategic advisor. Together, they bring complementary and highly relevant expertise that will help us further integrate AI into drug discovery and development as we work to deliver more and better medicines to patients faster,” said Daniel A. de Boer, Chief Executive Officer of ProQR. “Chris brings more than 15 years of experience applying AI and machine learning to oligonucleotide therapeutics, most recently at Eli Lilly, while Thomas brings frontier AI experience from co-founding and building Hugging Face, a leading open-source AI platform. Their expertise comes at an important time for our RNA editing pipeline, with AX-0811, our first program identified through ProQR’s AI-enabled discovery process to enter clinical development, and the second, AX-2911, expected to follow in the coming months.”

Chris Hart, PhD, most recently served as Vice President of Data Science and AI/ML in the Genetic Medicines team at Eli Lilly and Company. He brings more than two decades of experience in computational biology, genomics, AI, and oligonucleotide drug development, including more than 15 years focused on AI/ML-driven optimization of oligonucleotide therapeutics. Hart was previously founding CEO of Creyon Bio, where he applied AI and machine learning to oligonucleotide drug discovery. Before Creyon, he spent seven years at Ionis Pharmaceuticals, where he built and led the company’s functional genomics group. He holds a PhD from the California Institute of Technology and completed postdoctoral training at Yale University.

As Chief Data and AI Officer, Hart will lead ProQR’s AI strategy and its execution across drug discovery and development. Drawing on his experience in AI-driven oligonucleotide engineering, he will connect ProQR’s proprietary data, computational models and experimental capabilities to accelerate EON design and optimization, strengthen candidate selection, and inform and optimize clinical development.

“ProQR has built a one-of-a-kind RNA editing platform that combines RNA biology with advanced AI to discover and optimize new therapies,” said Chris Hart, PhD. “I look forward to helping scale this approach and translate this platform into many new therapies for patients.”

Thomas Wolf, PhD, will join ProQR’s Board of Directors as strategic advisor on AI. Wolf is co-founder and Chief Science Officer of Hugging Face, the open-source AI platform that Nvidia recently agreed to acquire for $12.9B. At Hugging Face, he has built a widely adopted ecosystem of models, datasets, and tools that enable researchers and companies to develop and apply AI at scale. This work has made advanced AI more accessible, enabling teams to adapt models to their own data and translate research advances into practical applications. He is driving the development of Hugging Face’s robotics technologies and building collaborations with academia and industry to advance AI in scientific discovery. In his role, Dr. Wolf will advise ProQR’s Board on technology strategy and scaling AI across the Axiomer platform.

“ProQR is integrating AI into its proprietary RNA editing platform, which has the potential to address a broad range of diseases,” said Thomas Wolf, PhD. “The platform creates a unique opportunity as each program can build on insights from others, and AI is turning that collective learning into a growing advantage across disease targets. This makes drug discovery more systematic and efficient while increasing the probability of success in drug development. This is a key example of how AI contributes to improving human health.”

ProQR AI Strategy for Axiomer RNA Editing

ProQR is integrating AI across its Axiomer platform and workflows to support its core mission: discovering, developing, and delivering transformative RNA editing medicines to patients. The combination of ProQR’s platform technology and proprietary datasets uniquely positions the Company to maximize the impact of AI on drug discovery and development.

In discovery, AI and machine learning complement ProQR’s wet biology and experimental capabilities, enabling faster identification and optimization of EONs, across targets to capture the full value of the platform. AI-enabled discovery led to the discovery of AX-0811, which achieved approximately 60% editing efficiency in humanized models, around six-fold higher than the prior generation AX-0810, with improved stability. This was achieved with reduced discovery timelines from what used to take three years to approximately three months. ProQR’s partnership with Ginkgo Bioworks enables faster generation of high-quality data via their autonomous labs, leading to shorter learning cycles and better training sets for its AI model.

In development, ProQR is applying AI and advanced data capabilities to support more informed decisions on patient stratification, endpoint selection, and clinical trial design, incorporating insights from real-world data.

The appointments of Chris Hart, PhD, and Thomas Wolf, PhD, strengthen ProQR’s expertise to scale AI across discovery and development stages. The Company is building a continuous learning loop connecting target identification, hit optimization, lead selection and clinical development, with clinical insights feeding back into discovery and informing decisions across programs. The Company expects this approach will accelerate discovery and increase the probability of success across the development pipeline.

ProQR’s growing RNA editing pipeline is expected to generate up to 5 clinical data readouts over the coming 12 months across four development programs. AX-0811, the first ProQR program in clinical testing discovered through its AI-enabled discovery process drug that is on track for target engagement data from the first two cohorts in early January 2027. Additional programs, including AX-0422 for MPS I Hurler syndrome and AX-2911 for PNPLA3-associated MASH, are progressing toward the clinic. Together, these programs demonstrate the potential of ProQR’s scalable Axiomer platform across liver and central nervous system.

About Axiomer^™

ProQR is pioneering a next-generation RNA base editing technology called Axiomer^™, which could potentially yield a new class of medicines for diverse types of diseases. Axiomer^™ “Editing Oligonucleotides”, or EONs, mediate single nucleotide changes to RNA in a highly specific and targeted way using molecular machinery that is present in human cells called ADAR (Adenosine Deaminase Acting on RNA). Axiomer^™ EONs are designed to recruit and direct endogenously expressed ADARs to change an Adenosine (A) to an Inosine (I) in the RNA – an Inosine is translated as a Guanosine (G) – correcting an RNA with a disease-causing mutation back to a normal (wild type) RNA, modulating protein expression, or altering a protein so that it will have a new function that helps prevent or treat disease.

About ProQR

ProQR Therapeutics is a clinical-stage company dedicated to changing lives through the creation of transformative RNA therapies. ProQR is pioneering a next-generation RNA technology called Axiomer^™, which uses a cell’s own editing machinery called ADAR to make specific single nucleotide edits in RNA to reverse a mutation or modulate protein expression and could potentially yield a new class of medicines for both rare and prevalent diseases with unmet need. Based on our unique proprietary RNA repair platform technologies we are growing our pipeline with patients and loved ones in mind.

Learn more about ProQR at www.proqr.com.

Forward Looking Statements

This press release contains forward-looking statements. All statements other than statements of historical fact are forward-looking statements, which are often indicated by terms such as “anticipate,” “believe,” “could,” “expect,” “intend,” “may,” “plan,” “potential,” “should,” “will,” “would” and similar expressions. Such forward-looking statements include, but are not limited to, statements regarding the expected roles that Dr. Hart and Dr. Wolf will serve in and the expected benefits they will bring to ProQR; ProQR’s strategy and ability to integrate and scale artificial intelligence and machine learning across its discovery and development activities; the ability of AI-enabled discovery and proprietary data to accelerate the identification, optimization and selection of EONs and improve clinical development decisions; the potential benefits of ProQR’s collaboration with Ginkgo Bioworks; the continued development and advancement of the Axiomer platform and ProQR’s pipeline; the Phase 1 clinical development of AX-0811, including the anticipated timing of initial clinical data in early January 2027; the development and advancement of AX-2911 and AX-0422; the timing and number of anticipated clinical data readouts across ProQR’s development programs; and the therapeutic potential of Axiomer EONs and ProQR’s product candidates.

Forward-looking statements are based on management’s beliefs and assumptions and on information available to management only as of the date of this press release. Actual results could differ materially from those expressed or implied by these forward-looking statements for many reasons, including, without limitation, the risks, uncertainties and other factors described in ProQR’s filings with the Securities and Exchange Commission, including certain sections of its most recent annual report on Form 20-F. These risks and uncertainties include, among others, the cost, timing and results of preclinical studies and clinical trials and other development activities; the risk that preclinical or early clinical data may not be predictive of future results or clinical benefit; the likelihood that ProQR’s programs may not advance on the timelines currently anticipated; reliance on contract research organizations, contract manufacturers and other third parties; the ability to recruit and retain employees and consultants, including members of management and scientific advisors; the ability to integrate and realize the anticipated benefits of AI, machine learning and proprietary data in discovery and development; the unpredictability of regulatory requirements and the duration and results of regulatory review; possible safety or efficacy concerns that may emerge as additional data are generated; the possible impairment of, inability to obtain or costs to obtain intellectual property rights; the ability to secure, maintain and realize the intended benefits of collaborations and partnerships; risks related to cybersecurity and data privacy; general business, operational, financial and accounting risks; and risks related to macroeconomic conditions, market volatility, geopolitical events, international trade restrictions and other developments affecting ProQR’s business. Given these risks, uncertainties and other factors, you should not place undue reliance on these forward-looking statements. ProQR assumes no obligation to update these forward-looking statements, even if new information becomes available in the future, except as required by law.

ProQR Therapeutics N.V.

Investor and media contact:
Sarah Kiely
ProQR Therapeutics N.V.
T: +1 617 599 6228
skiely@proqr.com
or
Investor contact:
Peter Kelleher
LifeSci Advisors
T: +1 617 430 7579
pkelleher@lifesciadvisors.com