Month: September 2026

• Delivered double-digit diluted EPS growth supported by strong PEO and Insurance Solutions revenue growth
• Strong expansion of industry-leading operating margins
• Advanced AI leadership and launched WISE Hire agentic recruiting solution

ROCHESTER, N.Y. , Sept. 23, 2026 (GLOBE NEWSWIRE) — Paychex (Nasdaq: PAYX), a leading provider of expert-enabled HR, payroll, and benefits, today reported results for the fiscal quarter ended August 31, 2026 (the “first quarter”) of the fiscal year ending May 31, 2027 (“fiscal 2027”). Unless otherwise noted, all growth rates refer to the current period versus the comparable prior-year period.

		Three months ended
		August 31,
In millions, except per share amounts		2026			2025			Change
Total revenue		$	1,630.5		$	1,540.0		6	%
Operating income		$	619.2		$	541.9		14	%
Adjusted operating income*		$	684.7		$	626.7		9	%
Diluted earnings per share		$	1.21		$	1.06		14	%
Adjusted diluted earnings per share*		$	1.34		$	1.22		10	%

“Paychex delivered a solid start to total revenue growth in fiscal 2027, with double-digit PEO and Insurance Solutions revenue and EPS growth underscoring the strength of our advisory solutions, disciplined execution, and continued progress against our strategic priorities,” stated John Gibson, President and Chief Executive Officer. “Our results reflect the durability of our business model, go-to-market investments helping us bring the full breadth of our solutions to more prospects and clients, and the value businesses place on our ability to combine innovative technology with trusted advisory expertise to navigate an increasingly complex workforce, regulatory, and benefits environment.”

Gibson continued, “We continued to build meaningful momentum in AI with compelling early adopter results from our award-winning WISE engine and the introduction of WISE Hire, our agentic recruiting solution. By extending AI-enabled automation and insights across Paychex HCM platforms and into Microsoft business applications where clients already work, we are making these capabilities easier to access and adopt. Together, we believe these innovations strengthen our competitive position, enhance productivity and client outcomes, and support sustainable growth and long-term shareholder value.”

First Quarter Business Highlights

• Total revenue increased 6% to $1.6 billion.
• Management Solutions revenue increased 4% to $1.2 billion driven by higher revenue per client resulting from price realization and product penetration.
• Professional Employer Organization (“PEO”) and Insurance Solutions revenue increased 12% to $367.6 million, primarily due to growth in the number of average PEO worksite employees and increased PEO insurance volumes.
• Interest on funds held for clients increased 5% to $49.8 million due to higher average interest rates.
• Operating income grew 14% to $619.2 million, primarily reflecting revenue growth and lower acquisition-related costs, and adjusted operating income grew 9% to $684.7 million.
• Operating margin was 38.0% compared to 35.2% and adjusted operating margin* was 42.0% compared to 40.7%.
• Diluted earnings per share increased 14% to $1.21 and adjusted diluted earnings per share increased 10% to $1.34.

*Adjusted operating income, adjusted operating margin, and adjusted diluted earnings per share are non-GAAP measures. Please refer to the “Non-GAAP Financial Measures” section below. Operating margin and adjusted operating margin are calculated as a percentage of total revenue.

Financial Position, Liquidity and Return to Shareholders

As of August 31, 2026

• Cash, restricted cash, and total corporate investments of $1.0 billion.
• Long-term borrowings, net of debt issuance costs, of $4.6 billion.

For the first quarter

• Cash flow from operations was $413.5 million.
• Paid dividends of $1.19 per share totaling $424.1 million.

Fiscal 2027 Business Outlook

Our current business outlook reflects current assumptions and market conditions. Changes in the macroeconomic environment could alter our guidance. Forward-looking adjusted operating margin and adjusted diluted earnings per share exclude acquisition-related costs. With consideration of these impacts, we have updated our business outlook as follows:

	Fiscal Year 2027 Outlook	Updates
Total revenue growth	5% to 6%	No change
Management Solutions revenue growth	5% to 6%	No change
PEO and Insurance Solutions revenue growth	7% to 8%	Previously 6% to 7%
Interest on funds held for clients	$200 million to $210 million	Previously $195 million to $205 million
Adjusted operating margin	~44%	No change
Effective income tax rate	~24%	No change
Adjusted diluted earnings per share growth	7% to 9%	No change

Webcast Details

The Company will host an Earnings Conference Call on September 23, 2026 at 9:30 a.m. Eastern Time, to discuss these results. The live webcast will be available for replay on our Investor Relations portal at https://investor.paychex.com, where news releases, current financial information, Securities and Exchange Commission (“SEC”) filings, and investor presentations are also accessible.

Contacts

Investor Relations:	Media Relations:
Rachel White	Tracy Volkmann
Head of Investor Relations	Manager, Public Relations
(513) 954-7388	(585) 387-6705
investors@paychex.com	public_relations@paychex.com

About Paychex

Paychex, Inc. (Nasdaq: PAYX) provides a comprehensive suite of expert-enabled technology and advisory solutions that help businesses manage HR, payroll, and benefits. Serving approximately 840,000 customers and paying 1 in 11 U.S. private sector workers, Paychex combines scale, trusted expertise, and innovation to help businesses succeed. Built on more than 50 years of workforce experience and one of the industry’s largest proprietary HR datasets, Paychex’s WISE agentic AI engine embeds intelligence directly into workflows to improve productivity, enhance decision-making, and deliver better outcomes. Learn more at paychex.com.

Non-GAAP Financial Measures

In addition to reporting operating income, operating margin, net income, and diluted earnings per share, which are U.S. generally accepted accounting principles (“GAAP”) measures, we present adjusted operating income, adjusted operating margin, adjusted net income, adjusted diluted earnings per share, earnings before interest, taxes, depreciation, and amortization (“EBITDA”), and adjusted EBITDA, which are non-GAAP financial measures. We believe these additional measures are indicators of the performance of our core business operations period over period. Adjusted operating income, adjusted operating margin, adjusted net income, adjusted diluted earnings per share, EBITDA, and adjusted EBITDA are not calculated through the application of U.S. GAAP and are not required forms of disclosure by the SEC. As such, they should not be considered a substitute for the U.S. GAAP measures of operating income, operating margin, net income, and diluted earnings per share, and, therefore, they should not be used in isolation but in conjunction with the U.S. GAAP measures. The use of any non-GAAP measure may produce results that vary from the U.S. GAAP measure and may not be comparable to a similarly defined non-GAAP measure used by other companies. For reconciliations of these non-GAAP financial measures to the comparable financial measures prepared in accordance with GAAP, please refer to the “Reconciliation of Non-GAAP Financial Measures to the Comparable GAAP Financial Measures” table of this press release.

Cautionary Note Regarding Forward-Looking Statements

Certain written statements in this press release may contain, and members of management may from time to time make or discuss statements which constitute, “forward-looking statements” within the meaning of the safe harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995. Forward-looking statements can be identified by such words and phrases as “expect,” “outlook,” “will,” “guidance,” “projections,” “anticipate,” “believe,” “can,” “continue,” “could,” “future,” “may,” “possible,” “potential,” “should,” and other similar words or phrases. Forward-looking statements include, without limitation, all matters that are not historical facts. Examples of forward-looking statements include, among others, statements we make regarding operating performance, events, or developments that we expect or anticipate will occur in the future, including statements relating to our outlook, revenue growth, earnings, earnings-per-share growth, and similar projections.

Forward-looking statements are neither historical facts nor assurances of future performance. Instead, they are based only on our current beliefs, expectations, and assumptions regarding the future of our business, future plans and strategies, projections, anticipated events and trends, the economy, and other future conditions. Because forward-looking statements relate to the future, they are subject to known and unknown uncertainties, risks, changes in circumstances, and other factors that are difficult to predict, many of which are outside our control. Our actual performance and outcomes, including without limitation, our actual results and financial condition, may differ materially from those indicated in or suggested by the forward-looking statements. Therefore, you should not rely on any of these forward-looking statements. Important factors that could cause our actual results and financial condition to differ materially from those indicated in the forward-looking statements include, among others, the following:

• our ability to keep pace with changes in technology or provide timely enhancements to our solutions and support;
• risks related to our use of artificial intelligence (“AI”) and new technologies in our business;
• software defects, undetected errors, and development delays for our solutions;
• the possibility of cyberattacks, security vulnerabilities or Internet disruptions, including data security and privacy leaks, and data loss and business interruptions;
• the possibility of failure of our business continuity plan during a catastrophic event;
• the failure of third-party service providers to perform their functions;
• the possibility that we may be exposed to additional risks related to our co-employment relationship with our PEO business;
• changes in health insurance and workers’ compensation insurance rates and underlying claim trends;
• risks related to acquisitions and the integration and performance of the businesses we acquire;
• our clients’ failure to reimburse us for payments made by us on their behalf;
• the effect of changes in government regulations mandating the amount of tax withheld or the timing of remittances;
• our failure to comply with covenants in our corporate bonds and debt agreements;
• changes in our credit ratings;
• changes in governmental regulations, laws, and policies;
• our ability to comply with U.S., state, and foreign laws and regulations;
• our compliance with data privacy and AI laws and regulations;
• our failure to protect our intellectual property rights;
• potential outcomes related to pending or future litigation matters;
• the impact of macroeconomic factors on the U.S. and global economy, and in particular on our small- and medium-sized business clients;
• volatility in the political, market, and economic environment, including inflation and interest rate changes;
• our ability to attract and retain qualified people; and
• the possible effects of negative publicity on our reputation and the value of our brand.

Any of these factors, as well as such other factors as discussed in our SEC filings, could cause our actual results to differ materially from our anticipated results. The information provided in this document is based upon the facts and circumstances known as of the date of this press release, and any forward-looking statements made by us in this document speak only as of the date on which they are made. Except as required by law, we undertake no obligation to update these forward-looking statements after the date of issuance of this press release to reflect events or circumstances after such date, or to reflect the occurrence of unanticipated events.

PAYCHEX, INC. CONSOLIDATED STATEMENTS OF INCOME (Unaudited) (In millions, except per share amounts)
	Three months ended
	August 31,
	2026				2025				Change
Revenue:
Management Solutions	$	1,213.1			$	1,163.3			4%
PEO and Insurance Solutions		367.6				329.1			12%
Total service revenue		1,580.7				1,492.4			6%
Interest on funds held for clients(1)		49.8				47.6			5%
Total revenue		1,630.5				1,540.0			6%
Expenses:
Cost of service revenue		430.1				413.8			4%
Selling, general and administrative expenses		581.2				584.3			(1)%
Total expenses		1,011.3				998.1			1%
Operating income		619.2				541.9			14%
Interest expense		(65.1	)			(68.2	)		(5)%
Other income, net(1)		10.9				23.8			(54)%
Income before income taxes		565.0				497.5			14%
Income taxes		135.3				113.7			19%
Net income	$	429.7			$	383.8			12%
Basic earnings per share	$	1.21			$	1.07			13%
Diluted earnings per share	$	1.21			$	1.06			14%
Weighted-average common shares outstanding		355.8				360.1
Weighted-average common shares outstanding, assuming dilution		356.6				361.9

(1)

Further information on interest on funds held for clients, other income, net, and the short- and long-term effects of changing interest rates can be found in our filings with the SEC, including our Quarterly Reports on Form 10-Q and our Annual Report on Form 10-K, as applicable, under the caption “Management’s Discussion and Analysis of Financial Condition and Results of Operations” and subheadings “Results of Operations” and “Market Risk Factors.” These filings are accessible at https://investor.paychex.com.

PAYCHEX, INC. CONSOLIDATED BALANCE SHEETS (Unaudited) (In millions, except per share amounts)
	August 31,				May 31,
	2026				2026
ASSETS
Cash and cash equivalents	$	600.9			$	1,088.2
Restricted cash		55.0				52.8
Corporate investments		333.3				36.3
Interest receivable		39.2				36.1
Accounts receivable, net of allowance for credit losses		1,615.9				1,507.6
PEO unbilled receivables, net of advance collections		680.2				664.2
Prepaid income taxes		11.5				11.2
Prepaid expenses and other current assets		409.2				384.7
Current assets before funds held for clients		3,745.2				3,781.1
Funds held for clients		4,348.4				4,832.2
Total current assets		8,093.6				8,613.3
Property and equipment, net of accumulated depreciation		614.6				588.9
Operating lease right-of-use assets, net of accumulated amortization		75.8				63.9
Intangible assets, net of accumulated amortization		1,626.2				1,684.0
Goodwill		4,534.1				4,527.4
Long-term deferred costs		571.0				555.8
Other long-term assets		145.4				141.2
Total assets	$	15,660.7			$	16,174.5
LIABILITIES
Accounts payable	$	141.4			$	154.8
Accrued corporate compensation and related items		132.5				162.1
Accrued worksite employee compensation and related items		824.7				844.8
Accrued income taxes		81.1				87.8
Deferred revenue		70.8				69.4
Other current liabilities		648.8				637.1
Current liabilities before client fund obligations		1,899.3				1,956.0
Client fund obligations		4,440.7				4,884.6
Total current liabilities		6,340.0				6,840.6
Accrued income taxes		145.5				140.5
Deferred income taxes		537.6				543.3
Long-term borrowings, net of debt issuance costs		4,558.0				4,556.1
Operating lease liabilities		62.9				52.2
Other long-term liabilities		311.2				306.7
Total liabilities		11,955.2				12,439.4
STOCKHOLDERS’ EQUITY
Common stock, $0.01 par value; Authorized: 600.0 shares; Issued and outstanding: 356.0 shares as of August 31, 2026 and 355.6 shares as of May 31, 2026		3.6				3.6
Additional paid-in capital		1,994.8				1,975.6
Retained earnings		1,788.4				1,805.8
Accumulated other comprehensive loss		(81.3	)			(49.9	)
Total stockholders’ equity		3,705.5				3,735.1
Total liabilities and stockholders’ equity	$	15,660.7			$	16,174.5

PAYCHEX, INC. CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) (In millions)
	Three months ended
	August 31,
	2026				2025
OPERATING ACTIVITIES
Net income	$	429.7			$	383.8
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization		109.8				109.3
Amortization of premiums and discounts on available-for-sale (“AFS”) securities and long-term debt, net		(2.2	)			(2.1	)
Amortization of deferred contract costs		66.0				60.4
Stock-based compensation costs		19.3				26.8
Provision on deferred income taxes		9.3				66.0
Provision for credit losses		8.6				7.7
Net realized (gains)/losses on sales of AFS securities		(0.0	)			0.0
Changes in operating assets and liabilities:
Interest receivable		(3.1	)			(6.1	)
Accounts receivable and PEO unbilled receivables, net		(73.3	)			(18.9	)
Prepaid expenses and other current assets		(19.8	)			29.5
Accounts payable and other current liabilities		(56.7	)			124.9
Deferred costs		(86.1	)			(68.5	)
Net change in other long-term assets and liabilities		12.0				6.3
Net change in operating lease right-of-use assets and liabilities		(0.0	)			(0.7	)
Net cash provided by operating activities		413.5				718.4
INVESTING ACTIVITIES
Purchases of AFS securities		(5,072.2	)			(3,731.9	)
Proceeds from sales and maturities of AFS securities		4,880.7				2,547.3
Net purchases of short-term accounts receivable		(63.2	)			(47.0	)
Purchases of property and equipment		(56.1	)			(55.9	)
Acquisition of businesses, net of cash acquired		(18.1	)			(0.2	)
Purchases of other assets, net		(6.9	)			(15.0	)
Net cash used in investing activities		(335.8	)			(1,302.7	)
FINANCING ACTIVITIES
Net change in client fund obligations		(443.9	)			81.4
Dividends paid		(424.1	)			(389.1	)
Repurchases of common shares		—				(160.1	)
Contingent consideration paid for acquisitions		(15.0	)			—
Activity related to equity-based plans		(23.6	)			(47.6	)
Net cash used in financing activities		(906.6	)			(515.4	)
Net change in cash, restricted cash, and equivalents		(828.9	)			(1,099.7	)
Cash, restricted cash, and equivalents, beginning of period		1,484.8				2,734.3
Cash, restricted cash, and equivalents, end of period	$	655.9			$	1,634.6
Reconciliation of cash, restricted cash, and equivalents
Cash and cash equivalents	$	600.9			$	809.0
Restricted cash		55.0				50.4
Restricted cash and restricted cash equivalents included in funds held for clients		–				775.2
Total cash, restricted cash, and equivalents	$	655.9			$	1,634.6

PAYCHEX, INC. RECONCILIATION OF NON-GAAP FINANCIAL MEASURES TO THE COMPARABLE GAAP FINANCIAL MEASURES (Unaudited) (In millions, except per share amounts)
	Three months ended
	August 31,
	2026				2025				Change
Operating income	$	619.2			$	541.9			14	%
Non-GAAP adjustments:
Acquisition-related costs(1)		65.5				84.8
Adjusted operating income	$	684.7			$	626.7			9	%
Adjusted operating margin		42.0	%			40.7	%
Net income	$	429.7			$	383.8			12	%
Non-GAAP adjustments:
Acquisition-related costs(1)		65.5				84.8
Income tax benefit for acquisition-related costs		(15.7	)			(20.6	)
Discrete tax windfall related to employee stock-based compensation payments(2)		(0.3	)			(7.2	)
Adjusted net income	$	479.2			$	440.8			9	%
Diluted earnings per share(3)	$	1.21			$	1.06			14	%
Non-GAAP adjustments:
Acquisition-related costs(1)		0.18				0.23
Income tax benefit for acquisition-related costs		(0.04	)			(0.06	)
Discrete tax windfall related to employee stock-based compensation payments(2)		(0.00	)			(0.02	)
Adjusted diluted earnings per share	$	1.34			$	1.22			10	%
Net income	$	429.7			$	383.8			12	%
Non-GAAP adjustments:
Interest expense		65.1				68.2
Interest income on corporate investments		(10.2	)			(18.7	)
Income taxes		135.3				113.7
Depreciation and amortization expense		109.8				109.3
EBITDA	$	729.7			$	656.3			11	%
Non-GAAP adjustments:
Acquisition-related costs(1)		8.6				23.7
Adjusted EBITDA	$	738.3			$	680.0			9	%

⁽¹⁾  Acquisition-related costs included in selling, general and administrative expenses include:

• $56.9 million for the first quarter compared to $61.1 million for the corresponding prior-year period, in amortization of intangibles acquired in the acquisition of Paycor HCM, Inc. (“Paycor”)
• $8.5 million for the first quarter compared to $18.7 million for the corresponding prior-year period, in compensation costs related to the acquisition and integration of Paycor, including replacement awards, severance and retention bonuses, and
• $0.1 million for the first quarter compared to $5.0 million for the corresponding prior-year period, in other acquisition-related costs.

⁽²⁾  Net tax windfall related to stock-based compensation payments recognized in income taxes. This item is subject to volatility and will vary based on option holder decisions related to exercising stock options and fluctuations in our stock price, neither of which is within the control of management.

⁽³⁾  The calculation of the impact of non-GAAP adjustments on diluted earnings per share is performed on each line independently. The table may not add down by +/- $0.01 due to rounding.

August 2026 BTC Balance of 323 Bitcoin Valued at $27.8 Million

1,000 new Bitmain XP miners to be installed September 2026 and 940 additional miners ordered for October with existing cash reserves

TAMPA, Fla., Sept. 23, 2026 (GLOBE NEWSWIRE) — PowerCompute, Inc. (Nasdaq: PWCM) (“PowerCompute” or the “Company”), a Bitcoin treasury and mining company expanding into high-performance computing (“HPC”) and artificial intelligence (“AI”) infrastructure, today announced progress on its fleet efficiency upgrade program.

Oklahoma Upgrade Completed. The Company anticipates it will install 1,000 additional Bitmain Antminer S19 XP miners at its Oklahoma facility by September 30, 2026. The units to be installed are averaging 132 terahash per second (TH/s). The new miners will replace S19J Pro units rated at 100 TH/s or below. The Company is moving those existing S19J Pro units to its Mississippi facility, where they will replace S19 units averaging 95 TH/s. Once that redeployment is complete, the Company expects a total hashrate of approximately 822 petahash per second (PH/s), up approximately 6.6% from 771 PH/s as of June 30, 2026.

Additional Order. On September 22, 2026, the Company ordered 940 additional S19 XP miners to replace S19 units averaging 95 TH/s located in Mississippi. The Company expects delivery and installation in October 2026. Assuming these units perform in line with those already installed, the Company expects total hashrate of approximately 862 PH/s once they are online, a cumulative increase of approximately 11.8% over June 30, 2026.

More Hashrate on the Same Power. Each new unit ultimately relaces a machine producing 95 TH/s with a machine averaging 132 TH/s, an increase of nearly 39% per machine. The new units draw comparable power to the machines they replace and are more efficient, at approximately 21.5 joules per terahash for the new units compared with approximately 34 for the retired units. The Company’s power infrastructure and power cost on a per-unit basis is not expected to change, so the added hashrate translates directly into more Bitcoin mined and more revenue from the same amount of electricity. Across the 1,000 units to be installed in September and the 940 on order, the Company estimates incremental revenue capacity of approximately $1.2 million per year from the new machines to be installed based on a hashprice of $40.00 per PH/s per day as of September 21, 2026, before curtailment and downtime.

Funding. The Company’s total cost for the 1,000 units acquired in September and the 940 units on order is approximately $400,000. The Company has funded and expects to fund these purchases from cash on hand and its Bitcoin holdings.

What Comes Next. Beyond the refresh, the Company has up to 3 megawatts of additional energized capacity in Mississippi available for expansion, which would require additional infrastructure and capital.

“We anticipate that every machine we replace will give us nearly 39% more hashrate on the same power,” said Bruce M. Rodgers, Chairman, Chief Executive Officer and President of PowerCompute. “That means more Bitcoin and more revenue from electricity we already own, and we are paying for it from our own resources. We also have up to 3 megawatts of energized capacity in Mississippi to expand into either AI or BTC mining.”

Bitcoin Treasury. As of August 31, 2026, the Company held 323 Bitcoin, valued at approximately $27.8 million based on a Bitcoin price of approximately $86,000 as of September 21, 2026.

About PowerCompute

PowerCompute, Inc. (Nasdaq: PWCM) is a Bitcoin treasury and mining company expanding into high-performance computing and artificial intelligence infrastructure. Founded in 2008 and headquartered in Tampa, Florida, the Company operates 26 megawatts of wholly-owned power infrastructure across facilities in Oklahoma and Mississippi. The Company also operates a technology-enabled specialty finance business providing funding to nonprofit community associations primarily in the State of Florida. For more information, please visit https://www.power-compute.com.

Forward-Looking Statements

This press release may contain forward-looking statements made pursuant to the Private Securities Litigation Reform Act of 1995. Words such as “anticipate,” “believe,” “estimate,” “expect,” “intend,” “plan,” and “project” and other similar words and expressions are intended to signify forward-looking statements. Forward-looking statements include, but are not limited to, statements regarding the installation and performance of the new S19 XP miners ordered by the Company and the anticipated timing thereof. Forward-looking statements are not guarantees of future results and conditions but rather are subject to various risks and uncertainties. Some of these risks and uncertainties are identified in the Company’s most recent Annual Report on Form 10-K and its other filings with the SEC, which are available at www.sec.gov. These risks and uncertainties include, without limitation, the risk that the recently order S19 XP miners will not be received, installed and energized within the anticipated timeline, the performance of the new miners relative to expectations, the volatility of Bitcoin and other cryptocurrency prices, our ability to successfully enter and operate in the high-performance computing and AI infrastructure business, the availability and cost of GPU and related infrastructure equipment, the timely delivery, installation and energization of newly ordered mining equipment and our ability to realize anticipated increases in hashrate, competition in the HPC and AI compute market, our ability to finance our site acquisitions and cryptocurrency mining operations, the risks of operating in the cryptocurrency mining business and our ability to grow that business, the capacity of our Bitcoin mining machines and our related ability to purchase power at reasonable prices, and our ability to identify and acquire additional mining sites. The occurrence of any of these risks and uncertainties could have a material adverse effect on our business, financial condition, and results of operations.

Investor and Media Contact

KCSA Strategic Communications
Philip Carlson
pwcm@kcsa.com
212-896-1233

NEW YORK, Sept. 23, 2026 (GLOBE NEWSWIRE) — via MiningNewsWire — Greenland Mines Ltd. (NASDAQ: GRML) today announces its placement in an editorial published by MiningNewsWire (“MNW”), one of 75+ brands within the Dynamic Brand Portfolio@IBN (InvestorBrandNetwork), a specialized communications platform with a focus on financial news and content distribution for private and public companies and the investment community.

To view the full publication, “REE, Critical Metals Demand Surging as Western Nations Race to Secure Alternatives,” please visit: https://ibn.fm/DAC8C

Rare earth elements sit quietly inside electric vehicle motors, wind turbines, data centers, advanced defense systems — and much more. Yet one country dominates the mining, refining and magnet production, and global demand keeps climbing. That imbalance has turned the search for new, Western-aligned sources into an urgent economic and security priority.

Greenland Mines Ltd. has made a significant move in that race, announcing that it has applied to more than double its footprint in West Greenland, which could turn one promising deposit into a full rare earth district. If approved, the move could position Greenland Mines squarely among other leaders … that are working to advancing rare earth and critical-mineral resources aimed at strengthening Western supply chains for critical applications.

About Greenland Mines Ltd.

Greenland Mines Ltd. is a Nasdaq-listed resource development and mining company focused on the development of the Skaergaard Project in southeast Greenland and the Sarfartoq neodymium-praseodymium rare earths project in southwest Greenland. The company’s strategy is centered on building a multi-asset platform with exposure to rare earth magnet materials, precious metals and select midstream processing opportunities, while advancing its assets and broader North Atlantic Critical Metals Corridor vision linking Greenland resources with allied downstream jurisdictions and industrial infrastructure.

NOTE TO INVESTORS: The latest news and updates relating to GRML are available in the company’s newsroom at https:/ibn.fm/GRML

For more information, visit Greenland Mines.

About MiningNewsWire

MiningNewsWire (“MNW”) is a specialized communications platform with a focus on developments and opportunities in the Global Mining and Resources sectors. It is one of 70+ brands within the Dynamic Brand Portfolio @ IBN that delivers: (1) access to a vast network of wire solutions via InvestorWire to efficiently and effectively reach a myriad of target markets, demographics and diverse industries; (2) article and editorial syndication to 5,000+ outlets; (3) press release enhancement to ensure maximum impact; (4) social media distribution via IBN to millions of social media followers; and (5) a full array of tailored corporate communications solutions. With broad reach and a seasoned team of contributing journalists and writers, MNW is uniquely positioned to best serve private and public companies that want to reach a wide audience of investors, influencers, consumers, journalists and the general public. By cutting through the overload of information in today’s market, MNW brings its clients unparalleled recognition and brand awareness.

MNW is where breaking news, insightful content and actionable information converge.

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MCLEAN, Va., Sept. 23, 2026 (GLOBE NEWSWIRE) — Worldwide NFT, Inc.’s (OTC: WNFT) (“WNFT”) (“Company”) Chief Executive Officer, Jay Wright, releases a letter to shareholders.

Dear Fellow Shareholders:

I have recently received emails from some of you asking me about Worldwide NFT’s strategy, growth plans, and timeline for closing acquisitions, as well as questions about our advisory board. To share my perspective on these important issues with all shareholders, I have decided to write directly to you. So here is where we are:

Strategy. The basic strategy for WNFT is to take the public company we have, which currently has no revenue and no EBITDA, and, through acquisition, grow the revenue per share and EBITDA per share of the business. Ultimately, cash profits drive stock prices, so we are seeking to grow the cash EBITDA per share and ultimately the cash earnings per share of the company. To implement this strategy, we are focused on an industry where I first worked nearly 25 years ago: national defense and federal government contracting. Our first acquisition (currently under LOI), RedTrace Technologies, fits the profile beautifully. It has only a few million in revenue, but it has positive EBITDA, an excellent, technically astute CEO in decorated veteran Kelo Makelele, and a strong track record with several key parts of the federal government. We also hope to generate business opportunities through our relationship with the UChicago Science Incubator, which we announced this summer. To that end, I will be giving a luncheon talk in Chicago in late October, where I expect to meet a few quantum computing and AI-driven companies.

Growth. Once we complete our first acquisition, we plan to hit the gas and pursue deal #2 right away. We currently have three targets, each with $20 million in revenue or more. The goal would be to get one or more of these under LOI during Q4 of this year and then close at least one as soon as possible thereafter. The name of the game is to reach above $30 million in revenue and $3 million in EBITDA to be large enough to uplist to the NYSE-American or Nasdaq. We also will seek to generate organic growth from RedTrace over the next 12 months.

Timeline. We are hoping to close RedTrace in the first half of Q4, preferably before Halloween. We would then aim to have LOI #2 in place during Q4 and potentially LOI #3 in Q1 of 2027. The goal is to have sufficient size by the end of Q1 2027 to start the audit, S-1, and uplisting process in Q2 of 2027, with a goal of being uplisted in 2027.

Advisory board. We are fortunate to already have two excellent advisory board members, Charles Haywood and Perry Rogers. We are looking to add another couple in Q4 of this year and then some others in 2027. The advisory board is an excellent source of ideas, deal flow, and guidance on how best to scale WNFT. While they are not fiduciaries in the legal sense, they are experienced, successful businesspeople who are candid, independent, and extremely smart. They are an asset to the company.

Overall outlook. I am very bullish on WNFT’s prospects. As your CEO and largest shareholder, I am heavily vested in the Company’s success and will do everything in my power to drive shareholder value higher. We also have some regulatory tailwinds likely to come from the SBA and SEC in Q4, which I plan to comment on in a future shareholder letter. Therefore, while the world remains a dangerous (see the Middle East and Ukraine) and challenging (see higher interest rates and the November elections) place, I am optimistic about WNFT’s future. Thank you for being a shareholder with me. I look forward to a very successful run over the next several years.

Sincerely,

Jay Wright
Chairman and CEO
Worldwide NFT, Inc.

About Worldwide NFT, Inc.

Worldwide NFT, Inc. (OTC: WNFT; WNFT) is a publicly traded company focused on acquiring strong operating companies, including looking to make accretive acquisitions in the defense, tech, manufacturing, or related industries. -.https://www.wnft.us/.

Cautionary statement on Forward-Looking Statements

This press release contains 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. All forward-looking statements are inherently uncertain, based on current expectations and assumptions concerning future events or future performance of the Company. Readers are cautioned not to place undue reliance on these forward-looking statements, which are only predictions and speak only as of the date hereof. Words such as “plan,” “goal,” “will,” “look forward,” “would,” “believe,” and “is expected,” and similar language are indicative of forward-looking statements. These forward-looking statements are subject to risks and uncertainties, many of which are outside of the company’s control, that could cause actual results to differ (sometimes materially) from the results expressed or implied in the forward-looking statements, including, among others, the company’s ability to find, finance, and close accretive acquisitions. The RedTrace transaction is subject to customary due diligence and definitive documentation. Therefore revenue and EBITDA numbers are subject to closing the transaction and to maintenance of RedTrace’s existing contracts. Except as required by law, we undertake no obligation to update or revise any forward-looking statements, whether as a result of new information, future events, a change in events, conditions, circumstances or assumptions underlying such statements, or otherwise.

Contact: Jay Wright, CEO
Worldwide NFT, Inc.
301.524.4759
jwright@wnft.us
https://www.wnft.us/.

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/817fd640-4c23-4254-a9c1-6c4dca45d843

Company Fully Repays $1.67 Million of White Lion Capital Convertible Note Ahead of Schedule

NEW PORT RICHEY, Fla., Sept. 23, 2026 (GLOBE NEWSWIRE) — Zeo Energy Corp. (Nasdaq: ZEO) (“Zeo,” “Zeo Energy,” or the “Company”), a provider of residential solar and commercial long-duration energy-storage solutions, today announced that it has fully retired the $1.67 million of convertible debt issued to White Lion Capital, LLC (“White Lion”) on June 9, 2026. With this repayment, Zeo Energy has no corporate debt outstanding on its balance sheet other than normal course leases and obligations related to day-to-day operations.

The note provided short-term bridge financing and supported the Company’s working capital needs during its important summer growth cycle. Having fully retired the note well ahead of schedule, Zeo Energy enters the next phase of its growth strategy with a corporate debt-free balance sheet and increased financial flexibility.

“We want to thank White Lion for providing this bridge capital for our important summer residential sales growth cycle,” said Tim Bridgewater, CEO of Zeo Energy. “Retiring this debt in full and entering this next chapter with no corporate debt reflects a strengthening of our balance sheet and our disciplined approach to capital management. We appreciate White Lion’s support as we continue to grow Zeo Energy.”

Zeo Energy’s management believes that operating without outstanding corporate convertible debt or corporate debt of any kind provides Zeo with a stronger financial foundation and additional flexibility as it continues to execute its growth strategy across its residential solar and emerging commercial energy business.

About Zeo Energy Corp.

Zeo Energy Corp. (Nasdaq: ZEO) is a diversified energy company providing residential, commercial, industrial and utility-scale solutions designed to reduce energy costs and carbon emissions. Zeo operates Sunergy Solar, a solar, distributed-energy and efficiency-solutions business, and Heliogen, LLC, an energy-generation and long-duration storage business focused on high-demand applications such as data centers and other energy-intensive industries. Through its integrated development, engineering and operating capabilities, Zeo is pursuing opportunities to provide customers with reliable, cost-effective energy solutions across multiple end markets. For more information, visit www.zeoenergy.com.

Cautionary Note Regarding Forward-Looking Statements

This press release and statements of Zeo’s management in connection with this press release contain or may contain “forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended (the “Securities Act”), and Section 21E of the Exchange Act of 1934, as amended, that are based on beliefs and assumptions and on information currently available to the Company. Such statements may include, but are not limited to, statements that refer to projections, forecasts, or other characterizations of future events or circumstances, including any underlying assumptions. The words “anticipate,” “intend,” “plan,” “goal,” “seek,” “believe,” “project,” “estimate,” “expect,” “explore,” “develop,” “development,” “deploy,” “deployment,” “strategy,” “future,” “likely,” “may,” “should,” “will,” and similar references to future periods may identify forward-looking statements, but the absence of these words does not mean that a statement is not forward-looking. Forward-looking statements may include, for example, statements about the anticipated benefits to the Company of the repayment of the Company’s convertible debt as described herein.  These and other forward-looking statements are based on information available as of the date of this press release, and current expectations, forecasts, and assumptions, and involve a number of significant judgments, risks, and uncertainties. Accordingly, forward-looking statements should not be relied upon as representing the Company’s views as of any subsequent date, and the Company does not undertake any obligation to update such forward-looking statements to reflect events or circumstances after the date they were made, whether as a result of new information, future events, or otherwise, except as may be required under applicable securities laws. You should therefore not place undue reliance on these forward-looking statements. As a result of a number of known and unknown risks and uncertainties, the Company’s actual results or performance may be materially and adversely different from those expressed or implied by these forward-looking statements. Some factors that could cause actual results to differ include: (i) planned projects may not be developed in the timelines anticipated, or at all; (ii) the outcome of any legal proceedings that may be instituted against the Company or others; (iii) the Company’s success in retaining or recruiting, or changes required in, its officers, key employees, or directors; (iv) the Company’s ability to raise additional capital and maintain the listing of its common stock and warrants on Nasdaq; (v) limited liquidity and trading of the Company’s securities; (vi) geopolitical risk and changes in applicable laws or regulations, including tariffs or trade restrictions; (vii) the possibility that the Company may be adversely affected by other economic, business, and/or competitive factors; (viii) operational risks, including risks associated with Zeo’s expanding business model; (ix) litigation and regulatory enforcement risks, including the diversion of management time and attention and the additional costs and demands on the Company’s resources; (x) the Company’s ability to effectively consolidate the assets of acquired companies and produce the expected results; and (xi) other risks and uncertainties, including those included under the heading “Risk Factors” in the Company’s Annual Report on Form 10-K filed with the U.S. Securities and Exchange Commission (the “SEC”) for the year ended December 31, 2025 and in its subsequent periodic reports and other filings with the SEC.

In light of the significant risks and uncertainties associated with forward-looking statements, you should not regard these statements as a representation or warranty by the Company, its respective directors, officers or employees or any other person that the Company will achieve its objectives and plans in any specified time frame, or at all. The forward-looking statements in this news release represent the views of the Company as of the date of this news release. Subsequent events and developments may cause that view to change. However, while the Company may elect to update these forward-looking statements at some point in the future, there is no current intention to do so, except to the extent required by applicable law. You should, therefore, not rely on these forward-looking statements as representing the views of the Company as of any date subsequent to the date of this news release.

Zeo Energy Corp. Contacts

For Investors:
Gateway Group
ZEO@gateway-grp.com

For Media:
Gateway Group
ZEO@gateway-grp.com

MIAMI, FL, Sept. 23, 2026 (GLOBE NEWSWIRE) — Core AI Holdings, Inc. (“Core AI” or the “Company”) (Nasdaq: CHAI), a global AI technology and infrastructure company, today announced that on September 18, 2026, the Company received a notification letter (the “Notice”) from the Listing Qualifications Department of the Nasdaq Stock Market LLC (“Nasdaq”) notifying the Company that as its unaudited consolidated balance sheet as of June 30, 2026, included with a Report of Foreign Private Issuer on Form 6-K filed with the Securities and Exchange Commission on August 20, 2026, reflected shareholders’ equity of $2,429,389, the Company is not in compliance with the requirement of maintaining a minimum shareholders’ equity of $2,500,000 for continued listing of its common shares for trading on Nasdaq as required by Nasdaq Listing Rule 5550(b)(1) (the “Rule”).

As set forth in the Notice, the Company has a period of 45 days through November 2, 2026, to submit a plan to regain compliance with the Rule, which if accepted, will afford an extension of up to 180 calendar days from the date of the notice or until March 17, 2027, for Core AI to regain compliance with the Rule. The Company intends to submit a plan by the November 2, 2026 deadline, which it anticipates will demonstrate that it has regained compliance with the Rule. However, if the Company’s plan to regain compliance with the Rule is not accepted by Nasdaq or the Company fails to regain compliance with the Rule, Nasdaq will provide notice that Core AI’s common shares are subject to delisting.

The notification does not affect the Company’s business operations, strategic initiatives, or the listing or trading of its common shares on Nasdaq.

About Core AI Holdings, Inc.

Core AI Holdings, Inc. (NASDAQ: CHAI) is a global AI technology and infrastructure company focused on identifying, developing, and scaling AI-driven businesses that leverage next-generation technologies to address large, high-growth market opportunities. Core AI’s mission is to harness artificial intelligence to create transformative, scalable solutions across multiple verticals and drive long-term shareholder value. Through its subsidiary, Core Gaming, the Company operates an AI-driven mobile game development and publishing business which has generated over 800 million downloads, and built a global user base of more than 40 million players across over 140 countries.

Core AI Investor Relations

ir@coregaming.co
www.coregaming.co

Forward-Looking Statements

This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements are based on Core AI’s current expectations and assumptions and are subject to risks, uncertainties, and changes in circumstances that may cause actual results to differ materially, as well as other risks described under “Risk Factors” in Core AI’s Annual Report on Form 20-F filed with the U.S. Securities and Exchange Commission on May 15, 2026, and in subsequent SEC filings. Except as required by law, Core AI undertakes no obligation to update these forward-looking statements. 

• Framework agreement underpins phased deployment across Liberty Global operating companies
• AI-powered customer interactions will create simpler, faster and more effective customer journeys allowing care teams to focus on more complex tasks

DENVER and LONDON, Sept. 23, 2026 (GLOBE NEWSWIRE) —

Liberty Global today announced a three-year strategic partnership with Sierra, a conversational AI platform that is redefining how businesses interact with their customers, to support the rollout of its technology across Liberty Global operating companies. Liberty Global is accelerating the use of AI across its businesses to make customer interactions easier, more intuitive and more effective.

The framework partnership agreement provides Liberty Global’s businesses with a common approach to deploy AI agents capable of engaging customers in natural language, across chat, voice and text.

By enabling AI agents to handle routine and increasingly complex interactions, the partnership will also allow customer-care teams to focus more of their time on situations requiring human judgement and deep expertise.

Liberty Global will deploy Sierra across its approximately 80m fixed and mobile connections in Europe through a phased programme, with implementation already started and the use cases and channel mix tailored to the requirements of individual markets, brands and customers.

Founded by Bret Taylor, former Co-CEO of Salesforce and Chairman of OpenAI, and Clay Bavor, former Google executive, Sierra has emerged as the leading company in the customer experience AI space. The company was valued at $15bn in its latest funding round in May 2026 and its platform is already used by more than 40% of the top 50 companies in the Fortune 500 and one in three of the leading banks, powering billions of customer interactions in industries such as financial services, retail, telecommunications, healthcare and more.

Mike Fries, Liberty Global Chairman and CEO, said: “Sierra has built a game-changing platform that we are excited to deploy across our footprint. By combining Sierra’s technology and deployment expertise with the deep knowledge of our local teams, we will deliver better customer experience across our group by making customer journeys simpler, faster and more effective.”

Bret Taylor, Sierra CEO and Co-Founder, said: “We’re excited to partner with Liberty Global — a pioneer in applied AI and a telecommunications leader with significant scale, expertise and a deep understanding of European customers. This partnership is a strong vote of confidence in Sierra’s ability to improve customer experiences, reduce the burden on support teams and grow revenue. We look forward to working with Mike and the team as we roll out agents across Liberty Global’s companies.”

ABOUT LIBERTY GLOBAL

Liberty Global Ltd. (Nasdaq: LBTYA, LBTYB, LBTYK) delivers long-term shareholder value through the strategic management of two complementary platforms: Liberty Telecom and Liberty Growth.

Liberty Telecom is a world leader in converged broadband, video and mobile communications, providing approximately 80 million fixed and mobile connections across Europe through advanced fiber and 5G networks that empower customers and strengthen national economies. The business generates aggregate revenue of $22 billion, including approximately $18 billion from nonconsolidated joint ventures and $4 billion from consolidated operations.

Liberty Growth invests in scalable businesses across the technology, media, sports and infrastructure sectors, with a portfolio of roughly 70 companies and funds valued at $3.4billion.*

Together, these platforms reflect Liberty Global’s focus on operating, enabling and investing in businesses with strong strategic fit and the potential to deliver sustainable long-term returns.

*As independently valued as of December 31, 2025.

This release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including statements with respect to business strategies, future growth prospects; valuation expectations and other information and statements that are not historical fact. These forward-looking statements involve certain risks and uncertainties that could cause actual results to differ materially from those expressed or implied by these statements. These risks and uncertainties include events that are outside of Liberty Global’s control. These forward-looking statements speak only as of the date of this release. Liberty Global expressly disclaims any obligation or undertaking to disseminate any updates or revisions to any forward-looking statement contained herein to reflect any change in its expectations with regard thereto or any change in events, conditions or circumstances on which any such statement is based.

ABOUT SIERRA

Sierra is the leading conversational AI platform, helping businesses create better customer experiences and stronger business outcomes with AI. Launched in February 2024, Sierra has become one of the fastest growing enterprise software companies of all time — reaching over $100M in ARR in just 7 quarters. Agents built on Sierra can do everything from product discovery to returns, refinancing loads and originating mortgages to preventing subscribers from churning.

CONTACT: Investor Relations
Michael Bishop +44 20 8483 6246

Corporate Communications
Pádraig McGarrigle +44 7474 736967
mediarelations@libertyglobal.com

DOVER, USA, Sept. 23, 2026 (GLOBE NEWSWIRE) — E-Power Inc. (“E-Power,” the “Company,” “we” or “our”) (NASDAQ: EPOW), a provider of advanced battery materials and AI Data Center (AIDC) microgrid solutions, today announced that its indirectly wholly-owned subsidiary, Shandong Sunrise Technology Co., Ltd. (“Shandong Sunrise”), has completed the equipment process design and technical consulting services required under its turnkey contract with Shandong Fusion New Material Co., Ltd. (the “Customer”), announced on August 27, 2026 (the “Contract”), and has received the associated payment of RMB 61,825,140 (approximately US$9.2 million) in full.

The technical services represent the first completed phase of the Contract, which has a total value of RMB 343,473,000 (approximately US$51.2 million) and was awarded to Shandong Sunrise in June 2026. The work was performed by the Company’s engineering team.

Completed Contract Scope and Consideration

• Artificial Graphite Anode Line: Full process and equipment design and technical consulting services for a fully automated production line with a designed capacity of 20,000 tons per year — RMB 37,474,515 (approximately US$5.6 million).
• Silicon-Carbon Anode Line: Full process and equipment design and technical consulting services for a production line with a designed capacity of 1,000 tons per year — RMB 24,350,625 (approximately US$3.6 million).
• Total: RMB 61,825,140 (approximately US$9.2 million), representing approximately 18% of the total Contract value, received in full.

From Award to Execution

The completion of this work represents the first component of the Contract, with the related services delivered and payment received in full. The remaining obligations required under the Contract include equipment manufacture and phased delivery, on-site installation and commissioning, operator training, testing and environmental auxiliary equipment, spare parts, technical documentation and a 12-month warranty period, culminating in load-bearing trial production and final acceptance at the Customer’s advanced electronic materials project in the Laiwu District of Jinan, Shandong Province, China.

The engagement reflects the Company’s strategy of commercializing process know-how developed through the construction and operation of anode facilities through its joint venture and subsidiaries. The design work delivered under this phase covers both conventional artificial graphite production and silicon-carbon anode material, a next-generation material for high-energy-density batteries.

“The completion of this Contract phase and collection of the full payment is the kind of milestone we said we would report,” said Mr. Haiping Hu, the founder, CEO and Chairman of E-Power Inc. “We believe that design and process engineering is where our accumulated know-how is most directly monetized, and that the completion of this phase provides both our Customer and our shareholders with a concrete measure of execution. We intend to continue to provide updates as the equipment phases of the Contract progress.”

About E-Power Inc.

E-Power Inc., through its subsidiaries, joint venture and variable interest entity structure, is engaged in the manufacturing and sale of graphite anode material for lithium-ion batteries. Through its joint venture, the Company operates a plant in Guizhou Province, China, powered by electricity from renewable sources, which contributes to the plant’s competitive production costs and reduced environmental impact in the production of graphite anode material. Mr. Haiping Hu, the founder, CEO and Chairman of the Company, has been a pioneer in the graphite anode industry since 1999. The Company’s management team is composed of experts with years of experience and successful track records in the graphite anode industry. For further information, please visit the Company’s website at www.sunrisenewenergy.com.

Forward-looking statement

Certain statements in this press release regarding the Company’s future expectations, plans and prospects constitute forward-looking statements as defined by the Private Securities Litigation Reform Act of 1995. Forward-looking statements include statements about plans, goals, objectives, strategies, future events, expected results, assumptions, the completion of the remaining phases of the Contract, the timing of equipment manufacture, delivery, installation and acceptance, and any statements that are not historical facts. Words such as “may,” “will,” “plan,” “anticipate,” “should,” “believe,” “expect,” “estimate,” and similar words, shall be regarded as forward-looking statements. Due to various factors, the actual results may differ materially from the historical results or from those expressed or implied by these forward-looking statements. These factors include, but are not limited to, the Company’s strategic objectives, the Company’s future plans, market demand and user acceptance of the Company’s products or services, the Company’s ability to complete the remaining phases of the Contract and the timing of equipment manufacture, delivery, installation, commissioning and final acceptance, technological updates, economic trends, the Company’s reputation and brand, the impact of industry competition, relevant policies and regulations, China’s macroeconomic conditions, international market conditions, and other related risks and assumptions. In view of the above and other related reasons, we advise investors not to place undue reliance on these forward-looking statements, and we urge investors to visit the website of the United States Securities and Exchange Commission to review the Company’s filings for other factors that may affect the Company’s future operating results. The Company undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise, except as required by law.

For more information, please contact:

The Company: IR Department
Email: IR@sunrisenewenergy.com
Phone: +1 4084890472

This phase 2b/3, double-blind trial of oral Xanamem in 247 participants with mild to moderate Alzheimer’s disease and elevated pTau181 evaluates the potential benefit of targeting excess cortisol in the brain over a 36-week treatment period

SYDNEY, Australia, Sept. 23, 2026 (GLOBE NEWSWIRE) — Actinogen Medical Limited (ASX: ACW) today announces that, following the final participant visit on 22 September in the USA, topline results for the XanaMIA phase 2b/3 Alzheimer’s disease (AD) clinical trial remain on track for November this year. This is the first Xanamem^® trial to evaluate the potential benefits of tissue cortisol control over a period longer than 12 weeks. Despite recent advances in Alzheimer’s disease treatment, substantial unmet need remains for therapies that can deliver meaningful clinical benefit, are easier to administer, and act through additional biological pathways.

Xanamem (emestedastat) is a promising oral enzyme inhibitor designed to control elevated levels of the “stress hormone” cortisol in the brain, which are associated with the onset and progression of AD. Elevated cortisol is also associated with ApoE4, the primary genetic risk factor for AD. Xanamem is a potent and highly selective enzyme inhibitor of 11β-HSD1, the cellular enzyme responsible for cortisol synthesis in tissues other than the adrenal glands, which is strongly expressed in regions of the brain important for cognition, including memory and executive function.

The XanaMIA trial is a randomized (1:1), double-blind, placebo-controlled phase 2b/3 trial evaluating Xanamem 10 mg versus placebo over 36 weeks, with a four-week follow up period. Participants are then eligible to enrol in an open-label extension phase and receive Xanamem 10 mg. The trial has now completed all patient visits, with 247 participants enrolled across Australia (45%) and the United States (55%).

Using elevated plasma pTau181 to select participants is a key feature of the trial. It has high validity for identifying AD in this population and is highly efficient compared with more complex methods such as amyloid brain scans or cerebrospinal fluid biomarkers. Elevated pTau181 also selects for participants with a more progressive disease course, increasing the trial’s power to detect a treatment effect for Xanamem and replicating the diagnostic profile of the phase 2a patient population where a large treatment benefit for Xanamem was observed (Taylor et al. 2024).

Enrolled participants had baseline clinical, genetic and laboratory characteristics similar to those reported in other trials of patients with mild to moderate AD:

1. Average age of 75 years
2. 49% female
3. 66% ApoE4 carriers (main AD genetic risk factor)
4. Mean (SD) pTau181 2.6 (1.3) pg/mL
5. Mean (SD) CDR-SB 4.3 (2.0) points.

Topline results from the trial are expected in November.

Dr Dana Hilt, the Company’s CMO commented:

“Xanamem is a unique oral therapy with the potential to become a transformational treatment option for patients and their families living with Alzheimer’s disease. Our key focus is to finalise high-quality data from the XanaMIA pivotal trial for release in November while planning streamlined pathways to the fastest possible regulatory approvals for Xanamem.” 

^® Xanamem is a registered trademark of Actinogen Medical Limited

About Actinogen Medical 
Actinogen Medical (ACW) is an ASX-listed, biotechnology company in the late clinical stages of development for Xanamem® (emestedastat), its novel oral therapy for Alzheimer’s disease and depression. The Company is based in Sydney, Australia with operations and clinical trials in Australia and the US. Xanamem has been studied in eight clinical trials with more than 500 people treated to date and has a promising safety and efficacy profile. ACW’s ongoing clinical trial, XanaMIA, is a phase 2b/3 pivotal trial of 247 participants with mild to moderate Alzheimer’s disease, treated for 36 weeks with Xanamem 10 mg or placebo, followed by an open-label extension phase with active Xanamem 10 mg for completing participants. In January 2026 an Independent DMC conducted an interim analysis of safety and efficacy futility and recommended the trial proceed to completion. The trial is now fully enrolled and will report topline, final results from the randomized phase in November this year.

About Xanamem (emestedastat)
Xanamem’s novel mechanism of action is to control the level of cortisol in the important areas of the brain through the inhibition of the cortisol synthesis enzyme, 11β-HSD1, without blocking normal production of cortisol by the adrenal glands. Xanamem is a first-in-class, once-a-day pill designed to deliver high levels of brain cortisol control in regions where 11β-HSD1 is highly expressed such as the hippocampus. Chronically elevated cortisol is associated with progression in Alzheimer’s Disease and excess cortisol is known to be toxic to brain cells. Elevated cortisol is also associated with depressive symptoms. Xanamem has demonstrated excellent brain target engagement and in human trials has shown potential to slow progression of Alzheimer’s disease and improve depressive symptoms in patients with moderately severe depression. To view Xanamem’s two-minute Mechanism of Action animation, click here.

Xanamem is an investigational product and is not approved for use outside of a clinical trial by the FDA or by any global regulatory authority. Xanamem® is a trademark of Actinogen Medical.

Disclaimer
This announcement and attachments may contain certain “forward-looking statements” that are not historical facts; are based on subjective estimates, assumptions and qualifications; and relate to circumstances and events that have not taken place and may not take place. Such forward looking statements should be considered “at-risk statements” – not to be relied upon as they are subject to known and unknown risks, uncertainties and other factors (such as significant business, economic and competitive uncertainties / contingencies and regulatory and clinical development risks, future outcomes and uncertainties) that may lead to actual results being materially different from any forward looking statement or the performance expressed or implied by such forward looking statements. You are cautioned not to place undue reliance on these forward-looking statements that speak only as of the date hereof. Actinogen Medical does not undertake any obligation to revise such statements to reflect events or any change in circumstances arising after the date hereof, or to reflect the occurrence of or non-occurrence of any future events. Past performance is not a reliable indicator of future performance. Actinogen Medical does not make any guarantee, representation or warranty as to the likelihood of achievement or reasonableness of any forward-looking statements and there can be no assurance or guarantee that any forward-looking statements will be realized.

CONTACT: Dr. Steven Gourlay
CEO & Managing Director
E. steven.gourlay@actinogen.com.au

Investors
Will Souter
Investor Relations
E. will.souter@actinogen.com.au

Media
George Hazim
Media & Public Affairs Australia
E: georgehazim@mediaaffairs.com.au