OLDWICK, N.J.–(BUSINESS WIRE)– #insurance–AM Best has downgraded the Long-Term Issuer Credit Rating (Long-Term ICR) to “cc” (Very Weak) from “ccc- “(Weak) and affirmed the Financial Strength Rating (FSR) of C- (Weak) of United Security Assurance Company of Pennsylvania (USAP). The outlook of these Credit Ratings (ratings) has been revised to negative from stable.The ratings reflect USAP’s balance sheet strength, which AM Best assesses as very weak, as well as its marginal operating performance, very limit
Month: September 2026
NEW YORK–(BUSINESS WIRE)–IIS has named Smt. Girija Subramanian of The New India Assurance Co. Ltd. the 2026 Vanguard Market Development Award honoree.
The All-in-one system combines plates, cannulated screws and specialized instrumentation to streamline complex pelvic surgery
Smith+Nephew (LSE:SN, NYSE:SNN), the global medical technology company, today announces the launch of the EVOS PELVIC Plating System, the next evolution of the EVOS plating platform designed to address the unique challenges of pelvic and acetabular surgery.
EVOS PELVIC System is built on the proven principles of the EVOS platform that has become a trusted choice for trauma surgeons worldwide due to its breadth of implant offerings, procedural efficiency and clinically relevant innovation.1-5 EVOS PELVIC System helps surgeons address a broad range of fracture patterns and disruptions in highly complex procedures. Dedicated plates and instruments are designed to work seamlessly together to support plate-assisted reduction.
The EVOS PELVIC System delivers a complete, all-in-one solution featuring:
- Pre-contoured plate options for the posterior wall, quadrilateral surface, and pubic symphysis.
- Locking and non-locking utility plates.
- A new cannulated screw system designed specifically for the pelvis and acetabulum.
- Specialized instrumentation to support exposure, fracture reduction and implant placement.
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“The launch of EVOS PELVIC System marks an important milestone in the continued expansion of our EVOS Plate portfolio and our commitment to advancing trauma care,” said Nate Folkert, President, Smith+Nephew Orthopaedics. “We are excited to bring this next evolution of the EVOS Platform to surgeons and patients around the world.”
“The brand EVOS was created from our mission to drive the Evolution of Osteosynthesis,” said John Rawlinson, Senior Director, Global Marketing, Smith+Nephew. “Our goal is to deliver meaningful innovation that helps surgeons address complex clinical challenges and underscores the company’s continued investment in solutions that help improve outcomes. The new EVOS PELVIC System is a powerful example of that mission in action.”
“We set out to develop what we believe is the most comprehensive pelvic and acetabular fracture system to date,” said Dr. Reza Firoozabadi, MD, Professor of Orthopedic Surgery at the University of Washington/Harborview Medical Center and design surgeon for the EVOS PELVIC System. “It was designed to address the full spectrum of injuries, from straightforward to the most complex pelvic ring and acetabular fractures, while providing fixation options for patients ranging from young individuals to elderly patients with compromised bone quality.”
“Specific implants and instruments were designed to work together to facilitate plate-assisted reduction, giving surgeons the ability to obtain a reduction, fine-tune it using features engineered into the plates and instruments, and then maintain that reduction until fracture union has occurred,” Dr. Firoozabadi explained. “Ultimately, our goal was to make these technically demanding procedures more efficient and reproducible, allowing surgeons to focus on achieving the best possible reduction and fixation for their patients.”
The EVOS PELVIC System is currently available in the United States. Availability and timing of launch in other markets may vary. It will be available for surgeons to preview at Smith+Nephew’s booth #301 during the upcoming 2026 Orthopaedic Trauma Association (OTA) Annual Meeting in Nashville, TN September 23-26. Make plans to visit Smith+Nephew’s Mini Surgical Suite located in the Exhibit Hall at the Music City Convention Center for an exclusive opportunity to connect one-on-one with the EVOS PELVIC System design surgeons.
For more information about the EVOS PELVIC System, visit the EVOS PELVIC web page.
– ends –
Media Enquiries
Gina Kamler
+1 (901) 262-9070
gina.kamler@smith-nephew.com
References
1. Smith+Nephew 2020.EVOS Large Frag Lateral Proximal Tibia Plate Validation Lab. Internal Report.
2. Smith+Nephew 2020.EVOS Large Frag Proximal Humerus Plate Validation Lab. Internal Report.
3. Smith+Nephew 2019.EVOS Large Frag Medial Distal Femur Plate Validation Lab. Internal Report.
4. Smith+Nephew 2020.EVOS Large Frag Straight Plate Validation Lab. Internal Report.
5. Smith+Nephew 2020.EVOS Large Frag Peri-Prosthetic Proximal Femur Plate Validation Lab. Internal Report.
About Smith+Nephew
Smith+Nephew is a portfolio medical technology business focused on the repair, regeneration and replacement of soft and hard tissue. We exist to restore people’s bodies and their self-belief by using technology to take the limits off living. We call this purpose ‘Life Unlimited’. Our 17,000 employees deliver this mission every day, making a difference to patients’ lives through the excellence of our product portfolio, and the invention and application of new technologies across our three global business units of Orthopaedics, Sports Medicine & ENT and Advanced Wound Management.
Founded in Hull, UK, in 1856, we now operate in around 100 countries, and generated annual sales of $6.2 billion in 2025. Smith+Nephew is a constituent of the FTSE100 (LSE:SN, NYSE:SNN). The terms ‘Group’ and ‘Smith+Nephew’ are used to refer to Smith & Nephew plc and its consolidated subsidiaries, unless the context requires otherwise.
For more information about Smith+Nephew, please visit www.smith-nephew.com and follow us on LinkedIn, Instagram or Facebook.
Forward-looking Statements
This document may contain forward-looking statements that may or may not prove accurate. For example, statements regarding expected revenue growth and trading profit margins, market trends and our product pipeline are forward-looking statements. Phrases such as “aim”, “plan”, “intend”, “anticipate”, “well-placed”, “believe”, “estimate”, “expect”, “target”, “consider” and similar expressions are generally intended to identify forward-looking statements. Forward-looking statements involve known and unknown risks, uncertainties and other important factors that could cause actual results to differ materially from what is expressed or implied by the statements. For Smith+Nephew, these factors include: conflicts in Europe and the Middle East, economic and financial conditions in the markets we serve, especially those affecting healthcare providers, payers and customers; price levels for established and innovative medical devices; developments in medical technology; regulatory approvals, reimbursement decisions or other government actions; product defects or recalls or other problems with quality management systems or failure to comply with related regulations; litigation relating to patent or other claims; legal and financial compliance risks and related investigative, remedial or enforcement actions; disruption to our supply chain or operations or those of our suppliers; competition for qualified personnel; strategic actions, including acquisitions and disposals, our success in performing due diligence, valuing and integrating acquired businesses; disruption that may result from transactions or other changes we make in our business plans or organisation to adapt to market developments; relationships with healthcare professionals; reliance on information technology and cybersecurity; disruptions due to natural disasters, weather and climate change related events; changes in customer and other stakeholder sustainability expectations; changes in taxation regulations; effects of foreign exchange volatility; and numerous other matters that affect us or our markets, including those of a political, economic, business, competitive or reputational nature. Please refer to the documents that Smith+Nephew has filed with the U.S. Securities and Exchange Commission under the U.S. Securities Exchange Act of 1934, as amended, including Smith+Nephew’s most recent annual report on Form 20-F, which is available on the SEC’s website at www. sec.gov, for a discussion of certain of these factors. Any forward-looking statement is based on information available to Smith+Nephew as of the date of the statement. All written or oral forward-looking statements attributable to Smith+Nephew are qualified by this caution. Smith+Nephew does not undertake any obligation to update or revise any forward-looking statement to reflect any change in circumstances or in Smith+Nephew’s expectations.
◊ Trademark of Smith+Nephew. Certain marks registered in US Patent and Trademark Office.

Production highlighting mortgage solutions for self-employed borrowers and property investors to air nationally and across digital platforms
PROVIDENCE, R.I., Sept. 23, 2026 (GLOBE NEWSWIRE) — via IBN – Beeline Holdings, Inc. (Nasdaq: BLNE) (“Beeline”) today announced that its “Bizumentary,” produced in partnership with Emmy Award-winning Loft 100 Studios, will premiere tomorrow, September 24, at 9 p.m. ET / 6 p.m. PT on BizTV, YouToo America, YTA TV (formerly American Life Network) and American Forces Network.
The production highlights mortgage solutions for self-employed borrowers and property investors, two key markets served by Beeline.
Following the premiere, the Bizumentary will be available on Apple Podcasts, iHeartRadio, Spotify, Spreaker, TuneIn Radio, Podchaser, Castbox, Overcast, Podcast Addict, Pocket Casts and YouTube.
The Bizumentary is scheduled to air weekly following its premiere, with the potential for broader network distribution as it gains exposure.
For additional information on the Beeline–Loft 100 Studios collaboration and the Bizumentary, see Beeline’s previously announced release.
About Beeline
Beeline is a digital mortgage and financial technology company focused on transforming the way consumers access mortgage financing and home equity solutions through technology, automation and a streamlined digital experience. Beeline Loans, Inc., NMLS # 1799947, is a subsidiary of Beeline.
About Loft 100 Studios
Loft 100 Studios is an award-winning, full-service production studio providing broadcast television, video, podcast and content-production capabilities. Its team and productions have received Emmy recognition for television production.
Contacts
Investor Relations
ir@makeabeeline.com
Media Inquiries
press@makeabeeline.com
Corporate Communications:
IBN.Ai
Austin, Texas
www.IBN.Ai
512.354.7000 Office
Editor@IBN.Ai

New Partnership Expands Local Broadcasts to Six Additional Markets Across the Carolinas
ATLANTA, Sept. 23, 2026 (GLOBE NEWSWIRE) — The Charlotte Hornets announced today a new broadcast partnership with Gray Media that will bring Hornets basketball over-the-air to more fans and communities during the 2026-27 NBA season.
Beginning in October, fans in six markets across North Carolina and South Carolina – Charleston, Columbia, Greenville-New Bern, Greenville-Spartanburg-Asheville-Anderson, Myrtle Beach and Wilmington – will be able to watch on local stations in their communities. Gray Media will also provide coverage in Roanoke, Virginia, further expanding the team’s regional footprint.
Games will be available free over-the-air and through participating local cable and satellite providers. Gray will televise Hornets basketball through its local television affiliates and the Palmetto Sports & Entertainment Network on the following stations:
- Charleston: WCSC 5.1 and WCSC 5.3
- Columbia: WIS 10.1, WIS 10.2 and WIS 10.4
- Greenville-New Bern: WITN 7.1 and WITN 7.2
- Greenville-Spartanburg-Asheville-Anderson: WHNS 21.1 and WHNS 21.2
- Myrtle Beach: WMBF 32.1 and WMBF 32.3
- Wilmington: WECT 6.1, WSFX 26.1 and WECT 6.3
- Roanoke: WDBJ 7.1 and WZBJ 24.1
Broadcasts will include pregame and postgame shows featuring news and analysis about the team, its players and storylines from around the league. The Hornets will announce market-specific game schedules and additional viewing information before the season begins.
“Our fans-first commitment means meeting fans where they are and making it easier for them to experience Hornets basketball,” said Hornets Sports & Entertainment President Shelly Cayette-Weston. “As the team of the Carolinas, we want longtime fans, new audiences and the next generation throughout our region to feel connected to their NBA team. With a team on the rise built around a talented young core, we’re thrilled to partner with Gray Media to build on our momentum, reach more communities and bring the excitement of Hornets basketball into more homes across the region.”
“Gray knows Hornets fans across South and North Carolina will love watching these games free, over-the-air,” said Sandy Breland, Gray’s Chief Operating Officer. “We appreciate our relationship with the Hornets and commend them for focusing on the fans with this broadcast partnership.”
As previously announced, WSOC Channel 9 and TV64 will serve as the local broadcast home of Hornets basketball in the Charlotte region for the 2026-27 season, bringing locally broadcast regular-season games to fans over the air and through participating cable and satellite providers. DAZN will serve as the team’s exclusive direct-to-consumer streaming home for the 2026-27 NBA season.
For complete Hornets broadcast information, including how and where to watch, visit www.hornets.com/watch.
| City/Market | Station | Affiliation | Approximate No. of Games |
| Columbia | WIS 10.1 | NBC | 8 |
| WIS 10.2 | CW | 8 | |
| WIS 10.4 | Palmetto Sports & Entertainment Network | 75 | |
| Charleston | WCSC 5.1 | CBS | 8 |
| WCSC 5.3 | Palmetto Sports & Entertainment Network | 75 | |
| Greenville-New Bern | WITN 7.1 | NBC | 8 |
| WITN 7.2 | MyNet | 75 | |
| Greenville-Spartanburg Asheville-Anderson |
WHNS 21.1 | Fox | 5 |
| WHNS 21.2 | Palmetto Sports & Entertainment Network | 75 | |
| Myrtle Beach | WMBF 32.1 | NBC | 8 |
| WMBF 32.3 | Palmetto Sports & Entertainment Network | 75 | |
| Roanoke, Virginia | WDBJ 7.1 | CBS | 2 |
| WZBJ 24.1 | MyNet (Channel 24) | 75 | |
| Wilmington | WECT 6.1 | NBC | 8 |
| WSFX 26.1 | Fox | 7 | |
| WECT 6.3 | MyNet | 75 |
Hornets Sports & Entertainment (HSE) owns the Charlotte Hornets and the Greensboro Swarm (NBA G League) and operates Spectrum Center, the premier destination for sports and entertainment in the Carolinas. Charlotte’s first professional sports team, the Hornets joined the NBA in 1988 and are a member of the Eastern Conference’s Southeast Division. For more information, please visit hornets.com, gsoswarm.com or spectrumcentercharlotte.com.
About Gray Media:
Gray Media, Inc. (NYSE: GTN) is a multimedia company headquartered in Atlanta, Georgia. We are the nation’s largest owner of top-rated local television stations and digital assets. We serve 117 full-power television markets that collectively reach approximately 37% of US television households. The portfolio includes 78 markets with the top-rated television station and 101 markets with the first and/or second highest rated television station in average all-day ratings across the 116 of such markets that were measured by Nielsen in 2025. We also own the largest Telemundo Affiliate group with 46 markets and Gray Digital Media, a full-service digital agency offering national and local clients digital marketing strategies with the most advanced digital products and services. Our additional media properties include video production companies Raycom Sports, Tupelo Media Group, and PowerNation Studios, and studio production facilities Assembly Atlanta and Third Rail Studios.
Gray Contact:
Sandy Breland, Executive Vice President, Chief Operating Officer, 404-266-8333

Integration enables Comscore’s full range of transactional age-and-gender demographics to be leveraged in datafuelX workflows
NEW YORK, Sept. 23, 2026 (GLOBE NEWSWIRE) — Comscore (Nasdaq: SCOR), a global leader in measuring and analyzing consumer behavior, today announced a national data integration partnership with datafuelX, a predictive analytics platform used by network groups and publishers to buy, forecast and optimize cross-platform video and Connected TV (CTV) campaigns. This integration builds Comscore data directly into datafuelX’s forecasting, pacing, and posting workflows, giving national clients a seamless path to transact on Comscore currency for linear buying on advanced audiences and traditional age-and-gender demographics with the systems they already use.
This move addresses one of the most persistent and least visible obstacles to modern measurement optionality in linear television and CTV. With the cost, time, and workflow disruption of standing up a new data feed inside an existing system proving a challenge in the past, the new datafuelX integration with Comscore is designed to remove friction for national network groups on its roster.
“By bringing the full range of Comscore’s age-and-gender demographics into datafuelX, our clients can use the audiences they transact on, plan, forecast and optimize with inside the same workflow they already use to run their business with,” said Tara Gotch, Executive Vice President of Commercial at Comscore, “Currency choice becomes far more powerful when the measurement can be used throughout the transaction lifecycle, from the initial plan through to the final guarantee.”
“datafuelX exists to make it easier for our clients to buy, forecast and optimize across every screen and every data set they care about,” said Dan Aversano, CEO of datafuelX. “Building Comscore directly into our platform means network groups don’t have to choose between the currency they want and the workflow they already rely on. They get both.”
“Advertisers want more choice, greater precision and better ways to connect with audiences across today’s fragmented media landscape,” said Brian Norris, chief revenue officer at The E.W. Scripps Company. “This collaboration expands the options available to brands and agencies, making it easier to activate data-informed campaigns across Scripps’ premium video inventory while delivering the scale, transparency and performance they expect.”
The integration also extends to OpenAP, the advanced-audience marketplace with which Comscore has a long-standing relationship. Beginning in the third quarter of 2026, Comscore will make its OpenAP advanced-audience segments available through datafuelX.
For network groups without homegrown forecasting systems, that combination effectively opens two additional currencies through a single, already-adopted workflow. This integration is one of several moves to give clients that optionality without asking them to absorb the cost and complexity of rebuilding their workflows. The first client integrations went live last month.
About Comscore
Comscore is a global, trusted partner for planning, transacting and evaluating media across platforms. With an unmatched data footprint that combines digital, linear TV, and over-the-top viewership intelligence with advanced audience insights, Comscore empowers media buyers and sellers to quantify their multiscreen behavior and make meaningful business decisions with confidence. A proven leader in measuring digital and TV audiences and advertising at scale, Comscore is the industry’s emerging third-party source for reliable and comprehensive cross-platform measurement.
About datafuelX
datafuelX is a leading analytics and technology provider specializing in multi-currency, cross-platform optimization for the television industry. The company was created to help buyers and sellers unlock greater value from their data and transform advertising outcomes across linear and digital video. Through its full-service SaaS platform, M3, datafuelX enables improved revenue management for publishers, more precise and accountable results for advertisers, and a better viewing experience for consumers.
Media Contact
Marie Scoutas
Comscore, Inc.
press@comscore.com

CALGARY, Alberta, Sept. 23, 2026 (GLOBE NEWSWIRE) — Gran Tierra Energy Inc. (“Gran Tierra” or the “Company”) (NYSE American:GTE) (TSX:GTE) (LSE:GTE) announces that it filed its definitive proxy statement (the “Proxy Statement”) with the U.S. Securities and Exchange Commission (the “SEC”) on September 15, 2026 in connection with the Company’s special meeting of stockholders (the “Special Meeting”). At the Special Meeting, stockholders will be asked to approve the previously announced sale of Gran Tierra’s Colombian and Ecuadorian businesses to Maurel & Prom for total consideration of approximately $1.33 billion, subject to adjustment (the “Sale”), pursuant to the terms and conditions of the Share Sale and Purchase Agreement entered into on August 5, 2026 (the “Share Purchase Agreement”). Stockholders will also vote on an advisory proposal concerning certain transaction-related executive compensation and a proposal to adjourn the Special Meeting, if necessary, to solicit additional proxies.
Gran Tierra’s Board of Directors unanimously recommends that its stockholders approve the Share Purchase Agreement and the transactions contemplated thereby, including the Sale (the “Sale Proposal”). The approval of the Sale Proposal requires the affirmative vote of the holders of a majority of the outstanding shares of common stock entitled to vote thereon at the Special Meeting, voting in person or represented by proxy.
The Sale continues to progress toward completion. On September 22, 2026, Gran Tierra announced the successful completion of the solicitation of consents from holders of its 9.750% Senior Secured Amortizing Notes due 2031 to effect certain proposed amendments to the indenture under which the notes were issued, satisfying a key condition to closing and enabling a subsidiary of Maurel & Prom to assume the notes at completion of the Sale. With noteholder approval now in hand, stockholder approval at the Special Meeting is among the final steps remaining, alongside the regulatory approvals in Colombia and Ecuador.
Proxy materials are expected to be delivered to stockholders by September 24, 2026. Stockholders who have not received their proxy materials, have questions or require assistance voting their shares should contact their broker, bank or other intermediary, as applicable, or Kingsdale Advisors, the Company’s strategic stockholder advisor and proxy solicitation agent, toll-free in North America at (855) 476-7987, by call or text at (437) 561-5013, or by email at contactus@kingsdaleadvisors.com.
The Special Meeting will be held virtually on October 9, 2026 at 10:00 a.m. Mountain Time (12:00 p.m. Eastern Time). The Special Meeting will be held in a virtual-only format by live webcast at https://meetings.lumiconnect.com/400-691-155-645; no physical or in-person meeting will be held. Holders of shares as of the close of business on September 14, 2026, the record date for the Special Meeting, will be able to attend the Special Meeting online, vote their shares electronically and submit questions during the meeting and at any adjournment or postponement thereof.
Stockholders are encouraged to read the Proxy Statement, the Share Purchase Agreement attached as Annex A thereto and the other annexes carefully and in their entirety and submit their proxy or voting instructions as promptly as possible and, in any event, no later than 10:00 a.m. Mountain Time on October 8, 2026, by following the instructions included with their proxy materials. Stockholders who hold their shares in “street name” should follow the instructions received from their broker, bank, or other intermediary to vote their shares.
The Proxy Statement and other documents filed by the Company with the SEC are available free of charge at www.sec.gov. The Proxy Statement and additional information concerning the Special Meeting are also available at https://www.grantierra.com/events/special-meeting-of-shareholders/.
Contact Information
For investor and media inquiries please contact:
Gary Guidry, Chief Executive Officer
Ryan Ellson, Executive Vice President & Chief Financial Officer
(403) 265-3221
info@grantierra.com
About Gran Tierra Energy Inc.
Gran Tierra Energy Inc., together with its subsidiaries, is an independent international energy company currently focused on oil and natural gas exploration and production in Canada, Colombia and Ecuador. The Company has entered into an exploration, development and production sharing agreement in Azerbaijan, which remains subject to ratification. Upon completion of the Sale, the Company’s producing operations will be focused on Canada, and the Company will continue to pursue its interests in Azerbaijan and additional new growth opportunities that would further strengthen the Company’s portfolio. The Company’s common stock trades on the NYSE American, the Toronto Stock Exchange and the London Stock Exchange under the ticker symbol GTE. Additional information concerning Gran Tierra is available at www.grantierra.com. Except to the extent expressly stated otherwise, information on the Company’s website or accessible from our website or any other website is not incorporated by reference into and should not be considered part of this press release. Investor inquiries may be directed to info@grantierra.com or (403) 265-3221.
Gran Tierra’s filings with the U.S. Securities and Exchange Commission (the “SEC”) are available on the SEC website at http://www.sec.gov. Gran Tierra’s Canadian securities regulatory filings are available on SEDAR+ at http://www.sedarplus.ca and UK regulatory filings are available on the National Storage Mechanism website at https://data.fca.org.uk/#/nsm/nationalstoragemechanism.
Forward-Looking Statements and Legal Advisories
This press release contains opinions, forecasts, projections and other statements about future events or results that constitute forward-looking statements within the meaning of the United States Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, and financial outlook and forward-looking information within the meaning of applicable Canadian securities laws (collectively, “forward-looking statements”). Forward-looking statements may be identified by words such as “anticipate,” “believe,” “expect,” “intend,” “plan,” “will,” “may,” “should,” “could,” “estimate,” “forecast,” “target,” “potential” and similar expressions. Such forward-looking statements include, but are not limited to, statements regarding the proposed Sale, the anticipated consideration, the timing and completion of the Sale, the satisfaction or waiver of the conditions to closing, including receipt of the required stockholder approval, and the Company’s plans and expectations following completion of the Sale.
The forward-looking statements contained in this press release reflect several material factors, expectations and assumptions of Gran Tierra, including, without limitation, that the required stockholder, regulatory and other approvals will be obtained, the other conditions to completion of the Sale will be satisfied or waived, the parties will perform their respective obligations under the Share Purchase Agreement, no event or circumstance will occur that would result in the termination of the Share Purchase Agreement, the Sale will be completed on the anticipated terms and timeline, and Gran Tierra will continue to conduct its operations in a manner consistent with its current expectations. Gran Tierra believes that the material factors, expectations and assumptions reflected in the forward-looking statements are reasonable at this time, but no assurance can be given that they will prove to be correct.
Among the important factors that could cause actual results to differ materially from those indicated by the forward-looking statements are: the possibility that the required stockholder approval or required regulatory or other approvals will not be obtained; the possibility that other conditions to completion of the Sale will not be satisfied or waived; delays in completing, or the failure to complete, the Sale; the risk that the Share Purchase Agreement may be terminated in circumstances requiring Gran Tierra to pay a termination fee or bear other costs; the amount and timing of transaction-related costs; potential adjustments to the consideration; risks relating to the form, timing and receipt of the transaction consideration; the effect of the announcement or pendency of the Sale on Gran Tierra’s business, operations, employees, counterparties and relationships; restrictions imposed on Gran Tierra’s business under the Share Purchase Agreement while the Sale is pending; potential litigation relating to the Sale; volatility in the trading price of Gran Tierra’s common stock or bonds; and the risk factors detailed from time to time in Gran Tierra’s periodic reports filed with the SEC, including under the caption “Risk Factors” in Gran Tierra’s most recent Annual Report on Form 10-K and subsequent Quarterly Reports on Form 10-Q and Current Reports on Form 8-K. These filings are available on the SEC’s website at www.sec.gov and on SEDAR+ at www.sedarplus.ca.
The forward-looking statements contained in this press release are based on information available to Gran Tierra as of the date of this press release and speak only as of such date. Gran Tierra disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as expressly required by applicable law.
Solicitation of Proxies
The Company and its directors and executive officers may be deemed to be participants in the solicitation of proxies in respect of the Special Meeting. Information regarding the Company’s directors and executive officers is contained in the Proxy Statement.

Press Release
Approval by the Ordinary and Extraordinary General Meeting of September 23, 2026, of the proposed Transfer of the Listing of Vantiva Shares to the Euronext Growth Paris Market
Paris (France) – September 23, 2026 – The Ordinary and Extraordinary General Meeting of the Company held today, September 23, on first notice, approved all the resolutions submitted to it in accordance with the agenda set out in the notice of meeting published in BALO n°106 of September 4, 2026, in particular:
- approval of the proposed transfer of the listing of Vantiva’s ordinary shares from the regulated market of Euronext Paris to the multilateral trading facility Euronext Growth Paris;
- approval of the amendment to article 8.2 of Vantiva’s bylaws subject to the condition precedent of the transfer of the listing of the Company’s ordinary shares to the Euronext Growth Paris multilateral trading facility, to introduce a statutory obligation to declare the crossing of certain thresholds.
Full voting results are available on the Company’s website www.vantiva.com, in the Investors Center section, under Shareholders Meeting.
Terms of the transfer
The Board of Directors, which met today following the Company’s General Meeting, decided to implement this transfer. Subject to the approval of Euronext, the listing of the Company’s ordinary shares on Euronext Growth Paris will be carried out under an accelerated procedure for the admission to trading of the existing shares, without the issuance of new shares. The admission of Vantiva’s ordinary shares to trading on Euronext Growth Paris will take place no earlier than two months from the date hereof.
Holders of Vantiva ordinary shares, whether in bearer or registered form, will not be required to take any action in connection with this transfer.
The Company currently meets the eligibility conditions required under the transfer procedure, namely a market capitalization of less than one billion euros and a free float of its shares of at least 2.5 million euros.
CIC Corporate and Institutional Banking has been appointed as listing sponsor for the proposed transfer to Euronext Growth Paris.
Reasons for the transfer
As a reminder, the Company announced on June 29 and July 30, 2026 its intention to transfer the listing of its ordinary shares to Euronext Growth Paris, a market more appropriate to its size.
This proposed transfer forms part of Vantiva’s initiative to adapt its stock market framework to its economic profile. It will also help reduce regulatory constraints and the related listing costs, while continuing to benefit from access to the financial markets.
Main consequences of the proposed transfer (non-exhaustive list)
In accordance with applicable regulations, Vantiva informs its shareholders of the main possible consequences of such transfer, as from the date on which it becomes effective.
Although no longer required to do so, Vantiva intends, as a matter of best practice, to retain certain financial statement preparation, financial communication and governance rules applicable on the regulated market of Euronext Paris, including the continued use of IFRS accounting standards and the audit committee.
Protection of minority shareholders
In accordance with legal provisions, Vantiva will remain subject, for a period of three years following the delisting of its ordinary shares from Euronext Paris, to the mandatory tender offer regime and the continued disclosure obligations relating to threshold crossings and statements of intent as applicable to companies whose ordinary shares are listed on Euronext Paris.
At the end of this three-year period, only crossings, upwards or downwards, of the 50% and 90% thresholds of the Company’s share capital or voting rights will have to be reported to the Autorité des marchés financiers subject, where applicable, to statutory threshold crossings to be reported to Vantiva. In this respect, the Company’s bylaws have been amended to provide, with effect from the transfer, that shareholders are required to disclose any upward or downward crossing of the thresholds of 5%, 10%, 15%, 20%, 25%, 30%, one-third, 50%, two-thirds, 90% and 95% of the share capital or voting rights, as well as any crossing above or below the 0.5% threshold of the share capital or voting rights.
In addition, the mandatory filing of a public tender offer will only apply in the event of a direct or indirect crossing, alone or in concert, of the threshold of 50% of the share capital or voting rights.
Periodic information
Within four months following the end of each fiscal year, the Company will publish an annual report including its annual and consolidated financial statements, a management report, and the statutory auditors’ reports.
The content of the management report, including the corporate governance report, will be streamlined, with certain disclosures no longer being mandatory (information relating to the remuneration of directors and executive corporate officers and matters likely to have an impact in the event of a public offer).
The deadline for publication of the half-year financial report (including the half-year financial statements and a business report relating to such half-year financial statements) will be extended from three months to four months following the end of the half-year period. The statutory auditors’ limited review of such half-year financial statements will no longer be mandatory.
With respect to the accounting framework (French or IFRS) used for the preparation of the consolidated financial statements, the Company indicates that it will continue to prepare its consolidated financial statements in accordance with IFRS.
The Company intends to continue publishing quarterly revenue information.
Ongoing disclosure
Vantiva will continue to provide accurate, precise and fair information by disclosing to the public any information likely to have a significant influence on the share price and any information relating to transactions carried out by its senior executives, in accordance with Regulation (EU) No. 596/2014 of April 16, 2014 on market abuse.
In addition, persons discharging managerial responsibilities will remain subject to the obligation to report transactions carried out in the Company’s securities.
The obligation to disseminate regulated information, including inside information, effectively and in full will remain applicable.
Governance
The shareholders’ general meeting will no longer be consulted on the remuneration of corporate officers (say-on-pay) pursuant to Articles L. 22-10-8 et seq. of the French Commercial Code.
The mandatory rules regarding gender balance within the Board of Directors provided for in Articles L. 225-18-1 and L. 22-10-3 of the French Commercial Code will no longer be mandatory, except where certain thresholds are exceeded.
Vantiva will no longer be subject to the provisions of Articles L. 821-67 et seq. of the French Commercial Code relating to audit committees. However, in order to maintain its good governance practices, Vantiva wishes to retain its Audit and CSR Committee and its Governance and Remuneration Committee.
Vantiva will also consider reducing the number of members of its Board of Directors over the coming months.
General meetings
The Company will no longer be required to publish a press release specifying the arrangements for making available the documents submitted to the general meeting, nor to post the voting results on its website. In addition, the preparatory documents for the general meeting (with streamlined content) will no longer have to be posted online 21 days before the date of the general meeting, but only on the date of the notice of meeting (i.e., no later than 15 days before the date of the general meeting), and Vantiva will no longer be required to provide a live broadcast of its general meetings or make a recording thereof available on its website.
The procedures for convening general meetings and the conditions for admission to such meetings will remain unchanged.
Share liquidity
As Euronext Growth is a multilateral trading facility organized by Euronext and not a regulated market, the transfer to this market could result in a change in the liquidity of the Company’s ordinary shares, which may differ from the liquidity on the regulated market of Euronext Paris.
Indicative timetable for the transfer (subject to the approval of Euronext Paris S.A.)
| Date | Event |
| From September 23, 2026 | Filing with Euronext Paris S.A. and review of an application for the delisting of the ordinary shares from Euronext Paris and for their admission to trading on Euronext Growth Paris |
| From November 23, 2026 at the earliest | Subject to Euronext Paris S.A. approval: delisting of the shares from Euronext Paris and admission of Vantiva’s ordinary shares to Euronext Growth Paris |
The precise timetable for the transfer — including the date of filing of the application with Euronext, the date of publication of the information document, and the delisting/admission date — will be communicated at a later stage. For indicative purposes, other recent transfer transactions suggest a timeframe of two to three months between the favorable vote of the general meeting and the effective admission to trading on Euronext Growth Paris.
About Vantiva
Push the limits
Vantiva (Euronext Paris: VANTI) is a global technology leader in customer premises equipment (CPE). For more than 130 years, Vantiva, formerly known as Technicolor, has developed solutions that connect consumers around the world to the content and services that matter most to them. Today, the Company continues to redefine connectivity through intelligent systems that set the standard in broadband, video and IoT (Internet of Things), transforming the way people live, work and interact with one another.
Vantiva combines a customer-centric approach with decades of expertise in software development, electronic hardware design and flexible supply chain management to deliver high-quality solutions at scale. These capabilities make Vantiva a trusted partner for leading telecom operators worldwide, as well as for enterprise customers and consumers around the globe.
Vantiva’s strong commitment to sustainability and responsible business practices has been recognized with several gold and platinum medals awarded by EcoVadis, acknowledging its environmental and social performance and placing Vantiva among the top 2% of organizations assessed globally in its sector.
Based in Paris, with regional headquarters in Australia, Brazil, China, India, South Korea, the United Kingdom and the United States, the Company serves the needs of a diverse international customer base.
For more information, visit vantiva.com and follow Vantiva on LinkedIn and X (Twitter).
Contacts
Vantiva Investor Relations Image 7 for Vantiva
investor.relations@vantiva.com vantiva.press@image7.fr
Attachment

Quadient H1 2026 results:
Digital ARR up 13% on an annualized organic basis
Strong free cash flow of €34 million
Basis of presentation:
Application of IFRS 5 to the Lockers business following announcement of intention to sell
Following Quadient’s announcement of its intention to sell the Lockers business, the Lockers Solution has been classified as held for sale and presented as a discontinued operation in the first-half 2026 consolidated financial statements, in accordance with IFRS 5. This excludes the small European private lockers network, which has been reclassified within the Mail segment. Prior-year figures have been restated accordingly. Unless otherwise stated, all figures and changes in this press release are presented on this restated basis. For further details on the completion of the strategic review of the Lockers business, see the press release entitled “Quadient announces intention to sell Lockers business”, published on 23 September 2026.
Quadient H1 2026 results:
Digital ARR up 13% on an annualized organic basis
Strong free cash flow of €34 million
Key highlights
- Sale of UK Lockers network agreed for €65 million and launch of sale process for remaining Lockers business
- H1 2026 revenue of €448 million, down 2.0% on an organic basis
- Continued momentum in Digital:
- solid growth in subscription-related revenue1
- ARR1 at €264 million, up 12.9% on an annualized organic basis
- Digital EBITDA1 up 17% on an organic basis, with EBITDA margin stable at 14.5% despite French
e-invoicing go-live implementation costs - Mail EBITDA margin remains resilient at 24.9%, down 0.6 points, continued single-digit revenue decline
- Quadient EBITDA down 2.2% on an organic basis
- Strong free cash flow of €34 million from a negative €4 million in H1 2025
- France e-invoicing mandate entered at scale with over 950 thousand entities2 registered through Quadient’s platform and over 700 thousand invoices processed since 1 September3
- FY 2026 guidance:
- unchanged on a basis excluding Lockers4:
- Organic revenue change of between -3% and +1%
- EBITDA margin above 19% for Digital and above 24% for Mail
- upgraded leverage on a basis excluding Lockers5 thanks to upcoming UK open network sale proceeds:
- Leverage ratio (excl. leasing) of 1.2x5 compared to initial target of 1.5x6
- unchanged on a basis excluding Lockers4:
- 2030 ambitions:
- Organic revenue ambitions unchanged at c.€550 million for Digital and c.€500 million for Mail
- EBITDA margin ambitions maintained at c.30% for Digital and 20%-25% for Mail, despite restated scope
Paris, 23 September 2026
Quadient S.A. (Euronext Paris: QDT), a global automation platform powering secure and sustainable business connections, today announces its 2026 second-quarter consolidated revenue and first-half results (period ended 31 July 2026). The first-half 2026 results were approved by the Board of Directors at their meeting held on 22 September 2026.
Geoffrey Godet, Chief Executive Officer of Quadient S.A., stated: “Digital is at the very heart of Quadient’s strategy, and the first half delivered, with further double-digit organic growth in Digital ARR.
As anticipated, the transition to mandatory e-invoicing in Europe is a unique opportunity to take our customers further down the road of digitalization and steer them towards fully automated communications and financial workflows. In France, more than 950 thousand entities were registered with the tax authority’s central directory through Serensia by Quadient at 21 September – well ahead of expectations – with over 700 thousand invoices processed since the 1 September 2026 go-live as at that date. Overall Digital bookings grew more than 20% in the second quarter, with strong demand in both Europe and North America.
Mail is performing in line with our expectations. We are confirming our guidance for the full year and our FY 2030 ambitions. In the meantime, we are committed to further crystallizing shareholder value as we continue the exit of our Lockers business after the successful signing of a sale agreement for our UK open network.
We have strong tailwinds supporting our Digital business, resilient profitability, and good cash generation in first-half 2026. With the completion of our Lockers business strategic review, we also expect further cash from the combined effects of the UK open network sale for €65 million, €120 million corresponding to Lockers capex no longer required over five years, and the proceeds from the future sale of the rest of the Lockers business. This will generate significant new capital allocation opportunities, including further short-term deleveraging. We look to the future with confidence.”
Comments on first-half 2026 performance
Quadient revenue came in at €448 million in first-half 2026, down 2.0% on an organic basis (down 3.7% as reported) year on year. Reported change includes a positive scope effect of €2 million, reflecting the acquisitions of Serensia in June 2025 and CDP Communications in December 2025, which was more than offset by a negative currency impact of €10 million.
Subscription-related revenue reached €341 million (76% of total revenue), down 1.1% organically versus the prior period, with the slower Mail trend largely offset by continued momentum in Digital. Non-recurring revenue7 declined by 4.9% on an organic basis, reflecting softer hardware volumes for Mail in Europe and a decline in Digital professional services revenue, the latter moderating over the course of the period.
By geography, North America (57% of revenue) remained resilient, with performance virtually stable year-on-year on an organic basis at -0.1%. The Main European Countries (37% of revenue) were down 4.4% on an organic basis, while revenue in the International segment (6% of revenue) contracted by 4.9% on an organic basis.
Consolidated revenue and EBITDA by Solution
H1 2026 consolidated revenue
| In € millions | H1 2026 | H1 2025 | Change | Organic change |
| Digital | 146 | 137 | +6.7% | +6.7% |
| Mail* | 302 | 328 | -8.0% | -5.7% |
| Quadient total | 448 | 465 | -3.7% | -2.0% |
* Mail figures include the European private lockers network for around €3.3 million in revenue in both first-half 2026 and first-half 2025, which has been reclassified within the Mail segment following the strategic review of the Lockers business.
EBITDA and EBITDA margin*
| H1 2026 | H1 2025 | |||
| In € millions | EBITDA | EBITDA margin | EBITDA | EBITDA margin |
| Digital | 21 | 14.5% | 20 | 14.5% |
| 75 | 24.9% | 84 | 25.5% | |
| Quadient total | 96 | 21.5% | 104 | 22.3% |
| * Includes between €2 and €3m in stranded costs from the Lockers business, reallocated by Solution and impacting EBITDA margin by around 0.6 points in both first-half 2026 and first-half 2025. | ||||
Digital
In first-half 2026, revenue from Digital came in at €146 million, up 6.7% organically and on a reported basis compared to first-half 2025.
Growth was led by subscription-related revenue, up 9.5% on an organic basis. Subscription-related revenue accounted for 87% of total Digital revenue in first-half 2026, up from 84% in first-half 2025. Non-recurring revenue performance improved sharply in the second quarter 2026 versus the first, thanks to a moderated decline in professional services revenue.
At the end of first-half 2026, annual recurring revenue (ARR), a forward-looking indicator of future subscription-related revenue, totaled €264 million, representing annualized organic growth8 of 12.9%9 versus 31 January 2026. Performance was driven by momentum in France ahead of the e-invoicing mandate go-live on 1 September 2026, as well as solid customer communications management (CCM) activity in North America.
EBITDA for Digital was €21 million in first-half 2026, up 17.0% year on year on an organic basis. Despite an increase in implementation costs tied to the e-invoicing go-live in France, EBITDA margin was stable at 14.5% on a reported basis, improving by 1.3 percentage points on an organic basis.
The first phase of France’s e-invoicing reform went live on 1 September 2026, requiring all businesses to receive electronic invoices, with large and mid-sized companies also required to issue them. The issuance obligation extends to SMEs on 1 September 2027. At 21 September 2026, more than 950 thousand entities10 were registered with the French tax authority’s central directory through Serensia, and over 700 thousand invoices had been processed, with a slow ramp-up expected to the end of the year. Contracted annual invoices stood at c.350 million, compared with 200 million at the acquisition of Serensia in June 2025. E-invoicing bookings in France increased eleven-fold year on year in the second quarter, and included a multi-million euro white-label agreement.
France is among the first of several markets. The progressive rollout of e-invoicing mandates across Europe, with further regulatory deadlines from 2027 onwards, extends the addressable base for Quadient’s platform market by market. In each case, compliance is an entry point rather than the destination. E-invoicing is embedded in Quadient’s accounts payable automation, giving customers approval and purchase order matching, ERP-integrated workflows and payment control. Connecting accounts payable with Quadient’s accounts receivable solution then gives a real-time view of both sides of the cash cycle, supported by the AI-powered cash dashboard launched in June 2026, which enhances forecasting and working-capital decisions. Each additional module deepens the customer relationship and increases the value of the platform. Quadient was named a Leader in QKS Group’s SPARK Matrix for Accounts Payable Automation and for Accounts Receivable Applications during the period, for the third and fifth consecutive years respectively.
In customer communications management (CCM), a US-based financial services customer signed a multi-million-dollar, multi-year agreement to expand from a point solution to Quadient’s full CCM platform, and a healthcare customer expanded volumes by 75%. Both reflect expansion within the existing enterprise base. Quadient was also named a leader in QKS Group’s SPARK Matrix for Customer Communications Management for the sixth consecutive year.
Mail revenue came to €302 million in first-half 2026, down 5.7% on an organic basis and down 8.0% on a reported basis compared to first-half 2025. The decline reflects slower subscription-related revenue, following the gradual contraction of the installed base after lower placements in recent periods, and softer hardware volumes in Europe, partly offset by resilience in North America.
Subscription-related revenue (71% of Mail revenue) retreated by 6.4% on an organic basis in first-half 2026. Performance was slightly less in the second quarter, primarily reflecting the expiry of a services contract in the UK at the end of the first quarter. Excluding this impact, the underlying trend remained stable across the first two quarters of the year.
Hardware revenue contracted by 4.1% on an organic basis.
EBITDA for Mail was €75 million in the first half, with EBITDA margin reaching 24.9%, down just 0.6 points compared with first-half 2025 despite the top-line performance. This resilience reflects cost discipline, tariff refunds as well as commercial productivity with cross-sell of Digital solutions to Mail customers.
In Europe, cross-sell of Digital financial automation solutions to Mail customers grew four-fold ahead of the French e-invoicing mandate, evidence that the installed Mail base gives Quadient privileged access to customers as they digitalize their financial processes. Alongside this, the iX-9 premier mailing system was launched in France, and Quadient secured a major US public sector deployment for certified mail. Customer satisfaction remained above 96% globally and at 98% in North America, Quadient’s largest market, and Quadient was named a Leader in the IDC MarketScape: Worldwide Mailroom Solutions and Services 2026 Vendor Assessment, recognized for its broad hardware-to-cloud ecosystem, customer communications expertise, and data-driven reporting capabilities.
REVIEW OF 2026 FIRST-HALF RESULTS
The table below presents the first-half 2026 income statement alongside first-half 2025 on both the published and restated bases. Commentary throughout refers to the restated comparison.
Simplified P&L
| H1 2026 vs H1 2025 | ||||||
| In € millions | H1 2026 | H1 2025 published |
H1 2025 restated | Reported change11 | Organic change12 | |
| Revenue | 448 | 517 | 465 | -3.7% | -2.0% | |
| Gross profit | 345 | 385 | 358 | -3.9% | ||
| Gross margin | 77.0% | 74.4% | 77.1% | |||
| EBITDA | 96 | 109 | 104 | -7.1% | -2.2% | |
| EBITDA margin | 21.5% | 21.0% | 22.3% | |||
| Current EBIT13 | 57 | 60 | 64 | -10.9% | -5.9% | |
| Current EBIT margin | 12.7% | 11.5% | 13.8% | |||
| Optimization expenses and other operating income & expenses | (7) | (3) | (2) | n.a. | ||
| EBIT | 50 | 57 | 61 | -18.0% | ||
| Net financial expense | (23) | (20) | (20) | +15.0% | ||
| Income before tax | 27 | 37 | 42 | -35.7% | ||
| Income taxes | (7) | (16) | (16) | -56.3% | ||
| Net income from continuing operations | 21 | 21 | 26 | -19.2% | ||
| Net loss from discontinued operations | (11) | 0 | (5) | n.a. | ||
| Net income | 10 | 21 | 21 | n.a. | ||
| Of which minority interests | 1 | 1 | 1 | n.a. | ||
| Of which net attributable income | 9 | 20 | 20 | n.a. | ||
| Basic earnings per share (in €) | 0.26 | 0.60 | 0.60 | n.a. | ||
| Diluted earnings per share (in €) | 0.25 | 0.59 | 0.59 | n.a. | ||
The application of IFRS 5 to the Lockers business has an accretive impact on Quadient’s overall margins. Notably, for first-half 2025, the restatement lifts gross margin by 2.7 percentage points, EBITDA margin by 1.3 percentage points and current EBIT margin by 2.3 percentage points compared with first-half 2025 published figures.
Gross margin stood at 77.0% in first-half 2026 broadly stable compared with 77.1% in first-half 2025 (restated).
EBITDA reached €96 million in first-half 2026, down €7 million compared with first-half 2025, representing a decrease of 7.1% year-on-year. On an organic basis, EBITDA contracted by 2.2%. EBITDA margin reached 21.5%, down 0.8 points compared with first-half 2025, reflecting the further decline in Mail.
Depreciation and amortization stood at €39 million in first-half 2026, compared with €40 million in first-half 2025.
Current operating income (current EBIT) reached €57 million in first-half 2026 compared with €64 million in first-half 2025, down 5.9% on an organic basis. Current EBIT margin stood at 12.7% of revenue in first-half 2026, compared with 13.8% in first-half 2025.
Driven by Mail headcount reduction in the United States and France, optimization costs and other operating income & expenses represented a net expense of €7 million in first-half 2026, compared with €3 million first-half 2025.
Consequently, EBIT came out at €50 million in first-half 2026, versus €61 million in first-half 2025.
Net attributable income
Net cost of debt was €20 million in first-half 2026, broadly stable compared to first-half 2025. Net foreign exchange losses and other financial items amounted to a loss of €3 million in first-half 2026, compared with a gain of €1 million in first-half 2025. Overall, Quadient recorded a net financial expense of €23 million in first-half 2026, compared with €20 million in first-half 2025.
Income before tax reached €27 million in first-half 2026, down 35.7% compared to first-half 2025.
First-half 2026 income tax expense was €7 million, down by more than 50% compared with first-half 2025, mainly driven by the reversal of a €5 million tax provision following a reassessment of residual tax audit risks.
Quadient recorded a net loss from discontinued operations of €11 million in first-half 2026, compared with €5 million in first-half 2025. This reflects the application of IFRS 5 to the Lockers Solution and includes the impact of remeasuring the European open networks at fair value less costs to sell.
Net attributable income after minority interests amounted to €9 million in first-half 2026 compared to €20 million in first-half 2025.
Basic earnings per share14 amounted to €0.26 in first-half 2026 compared to €0.60 in first-half 2025 and diluted earnings per share14 stood at €0.25 in first-half 2026 compared to €0.59 in first-half 2025.
Cash flow generation
Free cash flow (cash flow after capital expenditure excluding IFRS 16) reached a strong level of €34 million in first-half 2026, compared with a negative €4 million in first-half 2025, a significant improvement driven by the normalization of working capital, lower interest and tax payments and a decrease in capital expenditure.
- Cash flow from operations came out at €59 million in first-half 2026, compared with €25 million in first-half 2025. The change in working capital requirement was a net cash outflow of €25 million in first-half 2026, compared with a net cash outflow of €47 million in first-half 2025. First-half 2025 included payment over the period of additional inventory built at end-January 2025.
- The change in lease receivables represented a cash inflow of €29 million in the first half of 2026, compared with €24 million in the prior-year period, reflecting the further decrease of the leasing portfolio. Leasing portfolio and other financing services stood at €522 million as of 31 July 2026, compared to €533 million as of 31 January 2026, which represents an organic decline of 5.4%. At the end of first-half 2026, the default rate of the leasing portfolio stood at around 1.0%, compared with 1.1% at the end of first-half 2025.
- Interest and income taxes paid fell to €31 million in first-half 2026 from €51 million paid in first-half 2025, which included one-off impacts from the bond refinancing and Swiss exit tax payments.
- Capital expenditure (excluding IFRS 16) amounted to €25 million in first-half 2026, down €3 million compared to first-half 2025. Capital expenditure relating to Digital amounted to €13 million, up from €11 million in the prior-year period. Capital expenditure relating to Mail came in at €11 million, down from €17 million in first-half 2025, reflecting the lower placement of new equipment over the period.
Acquisitions net of divestments were nil in first-half 2026 compared with an outflow of €4 million in first-half 2025.
Cash flow from discontinued operations was an outflow of €12 million in first-half 2026, compared with an outflow of €5 million in first-half 2025, reflecting an increase in capital expenditure.
Cash flow after capital expenditure and acquisitions came to €24 million in first-half 2026, compared with an outflow of €13 million in first-half 2025.
Leverage and liquidity position
Net debt stood at €683 million as of 31 July 2026, compared with €682 million as of 31 January 2026.
The leverage ratio (net debt/EBITDA) stood at 3.1x15 16 at 31 July 2026 compared to 3.0×15 at 31 January 2026. Excluding leasing, the leverage ratio stood at 1.6x15 16 at 31 July 2026, unchanged from 31 January 2026.
As of 31 July 2026, Quadient had a liquidity position of €423 million, split between €123 million in cash and a €300 million undrawn credit line maturing in 2030.
Shareholders’ equity stood at €969 million as of 31 July 2026 compared to €966 million as of 31 January 2026. The gearing ratio17 stood at 70.4% as of 31 July 2026.
In August 2026, subsequent to the period end, Quadient issued a €100 million Schuldschein loan and made an early repayment of a portion of the existing Schuldschein loan in an amount of €65 million, comprising €42.5 million maturing in November 2026 and €22.5 million maturing in May 2027.
OUTLOOK
2026 outlook restated
Quadient confirms its guidance for FY 2026 on a basis excluding Lockers, following the application of IFRS 5 to that business and the reclassification of the European private lockers network within the Mail segment. Quadient expects:
- organic revenue change of -3% to +1%18
- EBITDA margin18 above 19% in Digital and above 24% in Mail
- a leverage ratio (excluding leasing) of 1.2×15, assuming completion of the sale of the UK lockers network before the end of FY 2026
Previous guidance was for organic revenue change of -2% to +2%, EBITDA margin18 above 20% in Digital, above 25% in Mail and above 10% in Lockers, alongside a leverage ratio (excluding leasing) of 1.5×18. Excluding Lockers, those figures translate mechanically into organic revenue change of -3% to +1%, EBITDA margin above 19% in Digital and above 24% in Mail, which Quadient confirms for the full year. On the same mechanical basis, the deleveraging target (excluding leasing) moves from 1.5x to 1.6x, reflecting the exclusion of Lockers EBITDA. Applying the proceeds from the sale of the UK lockers network takes the expected leverage ratio (excluding leasing) to 1.2x at FY 2026 year-end, assuming the sale completes before the year-end.
Mid-term trajectory
Quadient’s 2030 revenue ambitions by Solution are unchanged at c.€550 million for Digital and c.€500 million for Mail.
On profitability, excluding Lockers would mechanically have brought the 2030 EBITDA margin ambitions announced on 25 March 2026 to c.29% (versus c.30%) for Digital and to a range of 19% to 24% (versus 20% to 25%) for Mail. Quadient nevertheless expects to absorb this impact in full and is therefore maintaining its ambitions at c.30% for Digital and at 20% to 25% for Mail, an upgrade relative to the restated scope.
CONFERENCE CALL & WEBCAST
Quadient will host a conference call and audio webcast today at 6:00 pm Paris time (5:00 pm London time).
To join the webcast, click on the following link: Webcast.
To listen to the presentation by phone, please dial one of the numbers below:
– France: +33 1 70 91 87 04
– United States: +1 718 705 8796
– United Kingdom (Standard International Access) : +44 1 212 818 004
A replay of the webcast will also be available on Quadient’s Investor Relations website for 12 months.
Calendar
- 1 December 2026: Third-quarter 2026 revenue release (after close of trading on the Euronext Paris regulated market)
About Quadient®
Quadient designs and builds human-centered, AI-driven automation solutions for business communications. Our software empowers hundreds of thousands of customers to create, deliver and manage world-class communications with speed and ease. From financial automation and customer communications to mail and parcel management, Quadient reduces friction and waste so customers can focus on growth and customer connections. Quadient is listed on Euronext Paris (QDT) and part of the CAC® Mid & Small and CAC Technology indices. Make room for the remarkable at https://invest.quadient.com/en/.
Contacts
| Laura Paxton, Quadient +33 (0)6 07 30 33 86 l.paxton@quadient.com financial-communication@quadient.com |
OPRG Financial Fabrice Baron +33 (0)6 14 08 29 81 fabrice.baron@omc.com |
APPENDIX19
H1 2026 and Q2 2026 consolidated revenue
H1 2026 consolidated revenue by geography
| In € million | H1 2026 | H1 2025 | Change | Organic change |
| North America(a) | 254 | 262 | -3.3% | -0.1% |
| Main European countries(b) | 165 | 172 | -4.1% | -4.4% |
| International(c) | 29 | 30 | -4.6% | -4.9% |
| Quadient total | 448 | 465 | -3.7% | -2.0% |
| (a) Including Brazil, Canada, Mexico and the United States. (b) Including Austria, Benelux, France, Germany, Ireland, Italy (excluding Mail), Switzerland, and the United Kingdom. (c) International includes the activities of Digital and Mail outside of North America and the Main European countries. |
||||
Q2 2026 consolidated revenue by Solution
| In € million | Q2 2026 | Q2 2025 | Change | Organic change |
| Digital | 75 | 70 | +8.2% | +6.7% |
| 152 | 162 | -6.4% | -6.4% | |
| Quadient total | 227 | 232 | -2.0% | -2.4% |
Q2 2026 consolidated revenue by geography
| In € million | Q2 2026 | Q2 2025 | Change | Organic change |
| North America(a) | 130 | 129 | +1.0% | +0.5% |
| Main European countries(b) | 83 | 88 | -5.4% | -5.6% |
| International(c) | 14 | 15 | -8.4% | -9.2% |
| Quadient total | 227 | 232 | -2.0% | -2.4% |
| (a) Including Brazil, Canada, Mexico and the United States. (b) Including Austria, Benelux, France, Germany, Ireland, Italy (excluding Mail), Switzerland, and the United Kingdom. (c) International includes the activities of Digital and Mail outside of North America and the Main European countries. |
||||
Financial statements – First half-year 2026 results
Consolidated income statement
| In € million | H1 2026 | H1 2025 published |
H1 2025 restated |
| Revenue | 448 | 517 | 465 |
| Cost of sales | (103) | (132) | (106) |
| Gross margin | 345 | 385 | 358 |
| R&D expenses | (28) | (29) | (25) |
| Sales and marketing expenses | (116) | (139) | (124) |
| Administrative and general expenses | (82) | (91) | (85) |
| Service and support expenses | (52) | (59) | (54) |
| Employee profit-sharing, share-based payments and other expenses | (6) | (4) | (4) |
| M&A and strategic projects expenses | (5) | (3) | (3) |
| Current operating income | 57 | 60 | 64 |
| Optimization expenses and other operating income & expenses | (7) | (3) | (2) |
| Operating income | 50 | 57 | 61 |
| Net financial (expense) | (23) | (20) | (20) |
| Income before taxes | 27 | 37 | 42 |
| Income taxes | (7) | (16) | (16) |
| Share of results of associated companies | 0 | 0 | 0 |
| Net income from continuing operations | 21 | 21 | 26 |
| Net loss from discontinued operations | (11) | 0 | (5) |
| Net income | 10 | 21 | 21 |
Of which:
|
1 | 1 | 1 |
|
9 | 20 | 20 |
Simplified consolidated balance sheet
| Assets In € million |
31 July 2026 | 31 January 2026 |
| Goodwill | 893 | 959 |
| Intangible fixed assets | 104 | 122 |
| Property, plant and equipment | 100 | 167 |
| Other non-current financial assets | 53 | 54 |
| Other non-current receivables | 8 | 6 |
| Leasing receivables | 522 | 533 |
| Deferred tax assets | 28 | 32 |
| Inventories | 49 | 71 |
| Receivables | 168 | 233 |
| Other current assets | 65 | 71 |
| Cash and cash equivalents | 123 | 115 |
| Current financial instruments | 3 | 4 |
| Assets held for sale | 215 | 0 |
| TOTAL ASSETS | 2,330 | 2,368 |
| Liabilities In € million |
31 July 2026 | 31 January 2026 |
| Shareholders’ equity | 969 | 966 |
| Non-current provisions | 10 | 11 |
| Non-current financial debt | 545 | 618 |
| Current financial debt | 230 | 143 |
| Lease obligations | 32 | 36 |
| Other non-current liabilities | 0 | 1 |
| Deferred tax liabilities | 73 | 85 |
| Financial instruments | 0 | 1 |
| Trade payables | 55 | 85 |
| Deferred income | 173 | 213 |
| Other current liabilities | 209 | 209 |
| Liabilities held for sale | 34 | 0 |
| TOTAL LIABILITIES | 2,330 | 2,368 |
Simplified cash flow statement
| In € millions | H1 2026 | H1 2025 published |
H1 2025 restated |
| EBITDA | 96 | 109 | 104 |
| Other items | (10) | (6) | (6) |
| Cash flow before net cost of debt and income tax | 86 | 103 | 98 |
| Change in working capital requirement | (25) | (42) | (47) |
| Net change in leasing receivables | 29 | 24 | 24 |
| Cash flow from operating activities | 91 | 85 | 76 |
| Interest and income tax paid | (31) | (51) | (51) |
| Net cash flow from continued operations | 59 | 34 | 25 |
| Capital expenditure | (25) | (42) | (28) |
| Net cash flow after investing activities – continued operations | 34 | (8) | (4) |
| Impact of changes in scope | – | (4) | (4) |
| Other investing cash-flows | 1 | (0) | (0) |
| Net cash-flow from discontinued operating activities | (12) | 0 | (5) |
| Net cash flow after investing activities – all operations | 24 | (13) | (13) |
| Change in debt and other | (33) | (254) | (254) |
| Net cash flow after financing activities | (10) | (267) | (267) |
| Cumulative translation adjustments on cash | (6) | 14 | 14 |
| Net cash from discontinued operations | (7) | 0 | 0 |
| Change in net cash position | (22) | (253) | (253) |
GLOSSARY
Annual recurring revenue (ARR)
A forward‑looking indicator of future subscription‑related revenue. It corresponds to the average annualized value of recurring revenue associated with active subscription relationships at the end of the reporting period, including (i) committed contractual components and (ii) a volume‑based component that is not contractually committed, determined based on the average actual customer usage over the last six months (typically representing around 15% of the total).
Current EBIT
Corresponds to operating income excluding non‑recurring items that are not representative of Quadient’s ordinary operating performance and are presented separately in the income statement (also current operating income).
EBITDA
Corresponds to current operating income (current EBIT) before depreciation and amortization.
Non‑recurring revenue
Corresponds to revenue generated from activities that are not based on subscription arrangements and do not give rise to recurring revenue streams. It includes non‑recurring items such as license deals and hardware sales, as well as related professional services.
Organic growth
Corresponds to reported revenue growth adjusted for foreign exchange and scope effects, in order to reflect performance on a like‑for‑like basis. Foreign exchange impacts are neutralized by applying constant exchange rates, while scope effects are adjusted to exclude the impact of acquisitions, disposals, or changes in the scope of consolidation between periods.
Reported growth
Corresponds to the year‑on‑year change in revenue as reported, without adjustment for foreign exchange impacts or changes in scope of consolidation.
Subscription‑related revenue (SRR)
Corresponds to recurring revenue generated under subscription‑based arrangements with customers. It excludes non‑recurring revenue items such as license deals and hardware sales, as well as related professional services.
SAFE HARBOR
This press release contains forward-looking statements, estimates, opinions and projections with respect to anticipated future performance of Quadient SA (the “Company”). These forward-looking statements can be identified by the use of forward-looking terminology, including notably the terms “believes,” “estimates,” “anticipates,” “expects,” “intends,” “may,” “will” or “should” or, in each case, their negative, or other variations or comparable terminology. These forward-looking statements include statements that may relate to the Company’s plans, objectives, strategies, goals, future events, future revenues or synergies, or performance, and other information that is not historical facts.
Forward-looking statements are based on the current views, expectations and assumptions regarding the business, the economy and other future conditions of the Company and involve significant known and unknown risks and uncertainties that could cause actual results, performance or events to differ materially from those expressed or implied in such statements. Any forward-looking statements made in this presentation are statements about the Company’s beliefs and expectations and should be evaluated as such. Although the Company believes that these statements are based on reasonable assumptions, these forward-looking statements are subject to numerous risks and uncertainties, including matters not yet known to it or its management or not currently considered material, and there can be no assurance that anticipated events will occur or that the objectives set out will actually be achieved. These risks and uncertainties are linked to factors beyond the Company’s control and not precisely estimated, such as market conditions or competitor behavior. More detailed information on the potential risks that that could cause actual results to differ materially from the results anticipated in the forward-looking statements can be found in the 2025 Universal Registration Document filed with the Autorité des marchés financiers (AMF) on 7 May 2026 under the registration number D.26-0347, including notably those listed in the “Risk Factors”. Investors and Quadient shareholders should note that if some or all of these risks are realized, they may have a significant unfavorable impact on the Company.
Any forward-looking statements included herein only speak as at the date of this press release. The Company does not undertake, and specifically disclaims, any obligation or responsibility to update or amend any of the information above except as otherwise required by law. The Company accepts no liability whatsoever in respect of the achievement of such forward-looking statements and assumptions.
This press release does not constitute an offer to sell nor a solicitation of an offer to buy, nor shall there be any sale of ordinary shares of the Company in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.
1 See glossary in appendices for definition.
2 Identified by SIRET number. Includes entities registered through partners.
3 As at 21 September 2026.
4 Previous FY 2026 guidance: organic revenue change expected to range between -2% and +2%; EBITDA margin above 20% for Digital; above 25% for Mail, above 10% for Lockers.
5 Based on completion of sale of UK network before FY 2026 year-end. Including IFRS 16
6 June 2024 CMD deleveraging target: Net debt/EBITDA (excluding leasing) ratio to 1.5x in 2026.
7 See glossary in appendices for definition.
8 See glossary in appendices for definition.
9 ARR at 31 July 2026 impacted by a €1 million negative currency effect vs end-January 2026.
10 Identified by SIRET number. Includes entities registered through partners.
11 First-half 2026 vs first-half 2025 restated.
12 First-half 2026 vs first-half 2025 restated. See glossary in appendices for definition of organic growth.
13 See glossary in appendices for definition.
14 For the first half of 2026, the weighted average number of shares is 34,183,552. The diluted number of shares is 35,846,232.
15 Including IFRS 16.
16 First-half 2026 leverage ratios reflect the application of IFRS 5. Prior periods are not restated.
17 Net debt/equity.
18 At 2023 constant scope and foreign exchange rates.
19 H1 2025 and Q2 2025 figures restated to reflect the impact of the application of IFRS 5 to the Lockers business.
Attachment

Agreement appoints Nocera a non-exclusive worldwide distributor under a pre-owned handset program shipping from Texas from late September through November 2026
Nocera, Inc. Signs Worldwide Joint Distribution Agreement With Taiwan’s E-PRO Display, Building the Channel Layer for AI Distribution
TAIPEI, Taiwan, Sept. 23, 2026 (GLOBE NEWSWIRE) — via IBN — Nocera, Inc. (Nasdaq:NCRA) (“Nocera” or the “Company”) today announced that it has entered into a Strategic Partnership and Joint Distribution Agreement (the “Agreement”) with E-PRO DISPLAY CO., LTD. of Taiwan (“E-PRO”), executed on September 17, 2026. Under the Agreement, E-PRO appoints Nocera as a non-exclusive joint distributor on a worldwide basis, with Nocera responsible for sales, customer development and channel building. The Agreement places Nocera directly in the flow of physical devices moving from Texas to customers worldwide over roughly ten weeks. For Nocera, the value of that position is not only the margin it earns.
Every Technology Wave Has Been Won at the Distribution Layer
The personal computer was not won by the company that invented it. Neither was the smartphone, the app, or streaming. In each wave the invention became abundant within a few years, and the value settled with whoever controlled the route to the customer.
Artificial intelligence is arriving at that point. Models are becoming more capable and cheaper by the quarter. What has not become cheap is putting one in front of a customer willing to pay for it.
Enterprises do not adopt an AI agent because a benchmark improved. They adopt it because someone who already supplies them, invoices them and understands their business brings it in, sets it up and shows them how to use it. That kind of relationship is earned one transaction at a time.
“For forty years, the winner of every technology wave has been at the distribution end, not the invention end,” said Andrew Teng, Asia Director of Nocera. “The capital is going into models. We are taking the position next to the customer instead. A device in a customer’s hands is the closest thing there is to an AI subscription — and this business does not need to be funded. It earns.”
The Strategic Path
Phase 1 — Take the position. Worldwide distribution rights, and the customer relationships that come from delivering at scale. Commencing under the Agreement.
Phase 2 — Same customers, one more thing to sell. AI services and agent subscriptions offered to customers already buying devices. An objective, dependent on future agreements and products.
Phase 3 — The device becomes the entry point. AI-enabled devices moving through an established channel, each unit carrying recurring software revenue. A long-term objective.
What has been signed is Phase 1.
The Program
The Agreement relates to a buy-back and trade-in program operated by iFP Green Technology Limited and its affiliates (“iFP”), under which E-PRO holds exclusive distribution rights in respect of the goods allocated to it. The goods are pre-owned iPhone 17 Pro and iPhone 17 Pro Max handsets, which iFP states have passed its inspection. Shipments are expected in tranches from late September 2026 through the end of November 2026, from iFP’s facilities in Dallas / Fort Worth and Houston, Texas. According to iFP’s written confirmation dated August 26, 2026, iFP has allocated to E-PRO approximately 600,000 handsets with an aggregate awarded value of approximately US$520.5 million. That allocation is E-PRO’s, as recorded by iFP. It is not revenue, orders, backlog or a commitment of Nocera, and Nocera makes no representation as to what volume will be purchased by or transacted through Nocera. Quantities actually distributed will be those stated in the sales orders or invoices issued by iFP upon shipment.
Terms of the Agreement
The Agreement is a framework. It imposes no minimum quantity, minimum amount or minimum term commitment on either party; each purchase requires a separate written sale and purchase contract, and either party may decline any tranche. Nocera has applied to be registered as a supplier of iFP, with E-PRO’s assistance, and that registration is in progress. The Agreement has an initial term of twelve months and is governed by the laws of the State of New York. The Company [has filed / intends to file] a Current Report on Form 8-K with the SEC reporting the execution of the Agreement; the full text of the Agreement will be filed as an exhibit to that report.
About Nocera, Inc.
Nocera, Inc. (Nasdaq: NCRA) is building a portfolio of AI and energy infrastructure businesses across Asia, Europe and the United States, spanning AI model aggregation and distribution, device and channel operations, and renewable energy and storage assets. For more information, visit www.Nocera.company. For AI partnership inquiries, contact AI@PhoenixMGMTConsulting.com.
About E-PRO DISPLAY CO., LTD.
E-PRO DISPLAY CO., LTD. is a Taiwan-based electronics manufacturer established in 2005 and headquartered in Zhunan Township, Miaoli County. Its operations span contract manufacturing of TFT-LCD and display modules, LED lighting, and mobile phone trading. For more information, visit en.eprolcd.com.tw.
Forward-Looking Statements
This press release contains forward-looking statements within the meaning of the U.S. Private Securities Litigation Reform Act of 1995, including statements regarding the Company’s strategy for AI distribution, the phased strategic path described above, the completion of supplier registration with iFP, and the volume, timing and profitability of any transactions under the Agreement. The strategic path described above reflects the Company’s broader vision and is not a commitment under the Agreement, which concerns only the distribution of pre-owned mobile devices. Phases 2 and 3 are objectives, not commitments; the Company has no current agreements, products or definitive plans relating to AI agent distribution, and there can be no assurance that any AI-related objective described in this release will be pursued or achieved. Such statements involve known and unknown risks and uncertainties, including that: the Agreement imposes no minimum purchase or sales commitment, and no transaction will occur unless a separate sale and purchase contract is signed; the Agreement does not guarantee any revenue, margin or profitability to Nocera; Nocera’s registration as a supplier of iFP has not been completed and may not be completed; allocated quantities and values are those recorded by iFP, and actual shipments may differ materially in quantity, amount, timing and model mix; and the goods are pre-owned, and neither party gives any warranty as to their condition, grade, specification, functionality, lock status or value. Actual results may differ materially from those expressed or implied. Nocera undertakes no obligation to update any forward-looking statement except as required by law. Statements concerning the program, the allocation and iFP are based on information provided by E-PRO and on iFP’s written confirmation. Nothing in this release constitutes an offer to sell or a solicitation of an offer to buy any security. References to device models are descriptive only and do not imply any relationship with, endorsement by, or authorization from any device manufacturer. Historical references to earlier technology cycles illustrate the Company’s strategic reasoning and are not predictive of its results.
PR & Media Contact:
Phoenix MGMT & Consulting
PR@PhoenixMGMTConsulting.com
888-228-0122
A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/b911149f-92b3-4ee9-84ec-4c4d36423a0a

