Month: September 2026

Equifax Canada data shows average debt per business up 7.3 per cent as financial delinquencies reach a multi-year high; pressure builds among higher-risk businesses

Equifax Canada Market Pulse — Q2 2026 Quarterly Business Credit Trends Release

TORONTO, Sept. 14, 2026 (GLOBE NEWSWIRE) — Canadian businesses are carrying more debt and showing increasing signs of payment stress with banks and lenders, according to new Equifax Canada Q2 2026 Commercial Credit Trends data. In addition recent changes to trade tariffs are creating additional uncertainty for organizations managing elevated debt and cash flow challenges.

Average commercial debt per business rose 7.3 per cent year-over-year to $30,581 in the second quarter, while the 60+ day delinquency rate on financial credit products reached its highest level since 2019 at 4.0 per cent, up 19.7 per cent year-over-year. “The data continues to show an important divide in how Canadian businesses are managing their financial obligations,” said Jeff Brown, Head of Commercial Solutions at Equifax Canada. “Businesses appear to be doing a better job of staying current with suppliers they depend on to keep operating, all the while payment pressure with banks and lenders continues to build. This suggests many businesses are still making difficult choices about where their cash goes.”

Trade tariffs bring uncertainty for key industries
Recent changes to trade tariffs are affecting selected Canadian exports and creating additional pressure for businesses and sectors already managing elevated debt and cash-flow challenges. Business restructuring proposals surged 30.32 per cent year-over-year. At the same time, late payments to suppliers continued to decrease. The 60+ day delinquency rate for industrial trade credit fell 24.4 per cent year-over-year to 4.26 per cent. “This is a period of significant economic and market uncertainty. Equifax Canada is committed to helping lenders make smart lending decisions so that businesses will have the access to capital they need to keep our economy strong,” noted Brown.

Debt growth increasingly concentrated among higher-risk businesses
The increase in business debt is not being felt evenly across the market. High-risk businesses (which are those with the Equifax Business Failure Risk Score between 1026 and 1060) carried the largest average debt load, at $125,517 per business, up 48.2 per cent year-over-year. Businesses in the highest-risk tier saw average balances more than double, increasing 103.1 per cent to $42,986.

Debt also grew sharply among Canada’s youngest businesses. Companies 12 months old or younger, who often have higher start-up costs, recorded a 71.7 per cent year-over-year increase in average debt balances, reaching $48,173.

“These are the businesses we need to watch closely,” said Brown. “Rising debt is not necessarily a sign of financial distress on its own, particularly for a young or growing business. The concern is when rapidly increasing balances are combined with greater difficulty staying current on financial obligations.”

Businesses also continued to shift away from revolving credit. Average line-of-credit balances declined 14.6 per cent year-over-year to $17,570, while average commercial credit card balances fell 8.9 per cent to $5,412. In contrast, average installment loan balances increased 6.9 per cent to $131,107 which may suggest that businesses are seeking out other debt consolidation solutions.

The number of businesses with at least one 30+ day delinquency fell 3.6 per cent year-over-year to 271,645. However, the severity of late payments on financial products continued to increase.

The 60+ day delinquency rate on commercial credit cards rose 24 per cent year-over-year to 4.07 per cent.

Credit performance shows a widening divide among provinces
Ontario recorded the highest provincial financial-trade delinquency rate at 4.44 per cent, followed by Alberta at 3.93 per cent and Manitoba at 3.68 per cent.

The opposite trend is occurring with supplier payments. Industrial trade delinquencies declined across every region, including decreases of more than 20 per cent in Ontario, Quebec, Alberta, Saskatchewan and British Columbia.

British Columbia entered the second half of 2026 with the highest average commercial debt per business in Canada, at $79,171, while commercial credit inquiries in the province declined 4 per cent year-over-year. Atlantic Canada recorded the fastest increase in average business debt, up 21.2 per cent.

“Lower supplier delinquencies are encouraging, but they should not necessarily be interpreted as evidence that business conditions are broadly improving,” added Brown. “When businesses are staying current with suppliers while falling further behind with lenders, it can be an indication that they are prioritizing the payments most essential to keeping the business operating.”

Businesses remain cautious about new credit
Commercial credit inquiries increased 2.6 per cent overall in the second quarter to 259,720.
Manufacturing credit inquiries declined 3.5 per cent year-over-year. The sector also experienced a 21.9 per cent year-over-year increase in 60+ day bank-loan delinquencies, which reached 4.5 per cent.

More businesses seek restructuring
Separate federal insolvency statistics also point to changing patterns among businesses seeking restructuring. According to the Office of the Superintendent of Bankruptcy, there were 1,281 business insolvency filings during the second quarter of 2026, essentially unchanged from a year earlier. However, bankruptcies declined 8.1 per cent while restructuring proposals increased 30.3 per cent year-over-year.

“The shift suggests that a growing proportion of insolvent businesses are attempting to restructure their obligations rather than move directly to bankruptcy,” noted Brown.

Transportation and Warehousing recorded a 36 per cent year-over-year increase in insolvencies, while Construction recorded the largest number of insolvency filings nationally, at 214, a 2 per cent increase year-over-year.

Businesses enter a period of continued economic and trade uncertainty
The Q2 results come as Canadian businesses face continued uncertainty around economic growth, interest rates, operating costs and the evolving Canada-U.S. trade environment.

“For businesses, that makes managing cash flow and understanding their credit position increasingly important,” concluded Brown. “The data suggests many Canadian companies are being cautious about borrowing while managing higher debt and rising payment pressure.”

Equifax is committed to partnering with small business lenders to support the growth and long-term health of Canadian small businesses, empowering Canada’s financial ecosystem with data and insights to move the Canadian economy forward.

Province Analysis – 60+ days Delinquency Rates (Account Level)

Province	Delinquency Rate: Financial Trades (Q2 2026)		Delinquency Rate Change: Financial Trades (Q2 2026 vs. Q2 2025)		Delinquency Rate: Industrial Trades (Q2 2026)		Delinquency Rate Change: Industrial Trades (Q2 2026 vs. Q2 2025)
Ontario	4.44	%	22.17	%	4.28	%	-23.72	%
Quebec	3.57	%	11.00	%	3.24	%	-23.92	%
Nova Scotia	3.11	%	26.87	%	4.50	%	-29.07	%
New Brunswick	3.19	%	18.38	%	3.72	%	-23.38	%
PEI	3.15	%	23.36	%	3.10	%	-32.02	%
Newfoundland	3.46	%	21.62	%	3.96	%	-20.77	%
Eastern Region	3.20	%	22.59	%	4.02	%	-26.60	%
Alberta	3.93	%	20.78	%	5.29	%	-25.20	%
Manitoba	3.68	%	15.24	%	3.91	%	-13.02	%
Saskatchewan	3.34	%	17.05	%	5.20	%	-21.83	%
British Columbia	3.44	%	17.59	%	4.99	%	-23.93	%
Western Region	3.65	%	18.84	%	5.00	%	-23.23	%
Canada	4.00	%	19.71	%	4.26	%	-24.36	%

* Based on Equifax data for Q2 2026

About Equifax
At Equifax (NYSE: EFX), we believe knowledge drives progress. As a global data, analytics, and technology company, we play an essential role in the global economy by helping financial institutions, companies, employers, and government agencies make critical decisions with greater confidence. Our unique blend of differentiated data, analytics, and cloud technology drives insights to power decisions to move people forward. Headquartered in Atlanta and supported by nearly 15,000 employees worldwide, Equifax operates or has investments in 24 countries in North America, Central and South America, Europe, and the Asia Pacific region. For more information, visit Equifax.ca.

Contact:
Andrew Findlater
SELECT Public Relations
afindlater@selectpr.ca
(647) 444-1197

Angie Andich
Equifax Canada Media Relations
MediaRelationsCanada@equifax.com

NANJING, China, Sept. 14, 2026 (GLOBE NEWSWIRE) — Nanjing Leads Biolabs Co., Ltd. (“Leads Biolabs” or the “Company,” Stock Code: 9887.HK) today announced that updated Phase II data for opamtistomig (LBL-024), its proprietary PD-L1/4-1BB bispecific antibody, plus chemotherapy as first-line treatment for non-small cell lung cancer (NSCLC), were presented in an oral presentation at the 2026 World Conference on Lung Cancer (WCLC).

The updated data demonstrated robust and durable antitumor activity across both squamous and non-squamous NSCLC, including high response rates in squamous NSCLC regardless of PD-L1 expression and deep, durable responses in PD-L1-positive non-squamous NSCLC. The findings further support the potential of opamtistomig’s differentiated dual-target mechanism to broaden the clinical benefit of immunotherapy in first-line NSCLC.

Highlights

• Robust efficacy across NSCLC: As of July 1, 2026, 63 treatment-naïve patients had been enrolled, including 31 non-squamous and 32 squamous NSCLC patients. More than 90% had stage IV disease, and a considerable proportion had multiple metastases, including brain and liver metastases. PD-L1 TPS ≥1% was observed in only 35.5% of non-squamous and 43.8% of squamous patients, well below the 60%–70% in the general NSCLC population. Median follow-up was 7.1 months. Among 62 efficacy-evaluable patients, ORR was 71.0%, DCR was 95.2%, and the 6-month PFS rate was 70.6%.
• Strong and consistent efficacy in squamous NSCLC: ORR was 87.1%, DCR was 96.8%, and the 6-month PFS rate was 86.7%. Comparable benefit was observed regardless of PD-L1 expression, with ORRs of 84.6% in PD-L1-positive and 88.2% in PD-L1-negative patients, and 6-month PFS rates of 84.6% and 87.4%, respectively.
• Deep and durable responses in non-squamous NSCLC: Among PD-L1-positive patients, ORR was 81.8%, DCR was 100.0%, and the 6-month PFS rate was 90.0%. Notably, substantial responses were also observed in patients with low PD-L1 expression (TPS 1%–49%).
• Favorable safety: Opamtistomig plus chemotherapy demonstrated a manageable safety profile generally consistent with PD-(L)1 antibody-based chemotherapy combinations, with no new safety signals observed.

These findings support the potential of opamtistomig’s differentiated PD-L1/4-1BB dual-target mechanism to provide broad and durable clinical benefit across PD-L1 expression levels, including patient populations that remain underserved by conventional immunotherapy.

As the first PD-L1/4-1BB bispecific antibody to enter NDA review globally, opamtistomig is being developed as a potential next-generation IO 2.0 backbone therapy. It is currently being evaluated in 14 solid tumor indications, with clinical evidence emerging across seven tumor types, including NSCLC, ESCC, EP-NEC, BTC, and platinum-resistant ovarian cancer. Approximately 800 patients with solid tumors have been treated to date, with a favorable overall safety profile.

Executive Commentary
Dr. Charles Cai, Chief Medical Officer of Leads Biolabs, said: “The updated WCLC data are highly encouraging. With longer follow-up, tumor shrinkage continued to deepen and ORR continued to increase, providing further evidence of the durability of opamtistomig’s antitumor activity. Particularly noteworthy is the consistent efficacy observed regardless of PD-L1 expression in squamous NSCLC, together with deep and durable responses in PD-L1-positive non-squamous NSCLC, including patients with low PD-L1 expression.

Despite more than 90% of patients having stage IV disease and many presenting with difficult-to-treat metastatic disease, opamtistomig plus chemotherapy continued to demonstrate encouraging efficacy and PFS outcomes. These findings further support its potential clinical value in first-line NSCLC. We are advancing Phase III development and look forward to bringing this next-generation immunotherapy to more patients.”

About NSCLC
According to data from the International Agency for Research on Cancer (IARC) in 2022, there are approximately 2.48 million new cases of lung cancer and approximately 1.82 million lung cancer-related deaths worldwide each year. According to data published by the National Cancer Center of China, there were approximately 1.18 million new lung cancer cases and approximately 743,000 lung cancer-related deaths in China in 2024. NSCLC accounts for approximately 85% of all lung cancer cases. Due to the aggressive nature of NSCLC and the lack of effective early screening methods, approximately 70% of patients with NSCLC in China are diagnosed at an advanced stage.

Patients with NSCLC harboring actionable genetic alterations (AGAs) such as epidermal growth factor receptor (EGFR), anaplastic lymphoma kinase (ALK) and ROS proto-oncogene 1 (ROS1) may benefit from corresponding targeted therapies, while patients without AGAsstill rely primarily on immunotherapy in combination with chemotherapy. Further prolonging survival and achieving more durable and deeper responses remain key unmet needs in clinical practice. In squamous NSCLC, AGAs are rare, and patients generally cannot benefit from targeted therapies. Commonly used drugs such as pemetrexed and bevacizumab are also unsuitable for squamous NSCLC due to efficacy or safety concerns, resulting in limited treatment options. Although PD-1/PD-L1 inhibitors in combination with chemotherapy have expanded treatment options for patients with squamous NSCLC, prognosis remains poorer than in non-squamous NSCLC due to differences in biology, clinical features and treatment responses, with a median PFS of only 5 to 8 months and a median overall survival (OS) of 17 to 27 months, highlighting a significant unmet medical need for more effective treatment options.

About Opamtistomig
Opamtistomig (LBL-024) is emerging as a next-generation pan-cancer backbone therapy with potential overall survival (OS) benefit that simultaneously targets PD-L1 and the co-stimulatory receptor 4-1BB. Currently, opamtistomig is being evaluated in 14 indications, including one pivotal single-arm registrational study, one confirmatory Phase III study, and nine proof-of-concept studies, covering major indications such as NSCLC and multiple cold tumors. To date, opamtistomig has demonstrated robust antitumor activity across seven tumor types—extrapulmonary neuroendocrine carcinoma (EP-NEC), non-small cell lung cancer (NSCLC), small cell lung cancer (SCLC), biliary tract cancer (BTC), hepatocellular carcinoma (HCC), esophageal squamous cell carcinoma (ESCC), and ovarian cancer (OC)—highlighting its clinical value and broad therapeutic promise.

Developed using Leads Biolabs’ proprietary X-Body bispecific platform, opamtistomig is designed to simultaneously block PD-1/PD-L1 immune suppression and conditionally activate 4-1BB, an agonist pathway, resulting in a potent and synergistic anti-tumor immune response. It has a safety profile comparable to PD-1/PD-L1 inhibitors and demonstrates broader-spectrum anti-cancer potential. Mechanistically, 4-1BB agonism can reactivate exhausted T cells and promote robust T-cell proliferation, offering significant promise for PD-1/PD-L1–resistant or immunologically “cold” tumors and potentially offering durable survival benefits.

Recognizing its clinical potential, opamtistomig received Breakthrough Therapy Designation (BTD) from China’s National Medical Products Administration (NMPA) in October 2024, and Orphan Drug Designation (ODD) from the U.S. Food and Drug Administration (FDA) in November 2024. Additionally, in January 2026, opamtistomig was granted Fast Track Designation (FTD) by the FDA and ODD by the European Commission, further underscoring its potential to address unmet medical needs in this patient population. In July 2026, its New Drug Application (NDA) was granted priority review designation by the NMPA, followed by NDA acceptance in August 2026, positioning opamtistomig as a potential world’s first approved 4-1BB-targeting antibody, the first approved agonist antibody, and the first approved treatment for EP-NEC.

About Leads Biolabs
Founded in 2012, Leads Biolabs is a clinical-stage biotechnology company dedicated to the discovery, development, and commercialization of innovative therapies to address underserved medical needs in oncology, autoimmune, and other severe diseases both in China and globally.

Leads Biolabs is a front-runner in next-generation immuno-oncology treatments with a differentiated pipeline of 15 innovative drug candidates, including five clinical-stage drug candidates and one registration-stage asset.

The Company adopts a science-driven R&D approach and has successfully established comprehensive R&D capabilities spanning antibody discovery and engineering, in vivo and in vitro efficacy evaluation, as well as druggability assessment. It has also developed multiple proprietary technology platforms, including LeadsBody (a CD3 T-cell engager platform), X-body (a 4-1BB engager platform), TOPiKinectics (an ADC platform) and ImBiTDC (a TDC platform), which serve as the cornerstone for its continued innovation and have been validated by the clinical outcomes of its bispecific antibody portfolios.

Leads Biolabs has established integrated capabilities across early discovery, translational medicine, clinical development, CMC and business development. The innovative nature and competitive strengths of its drug candidates, coupled with its global perspectives, proactive strategy, and efficient clinical validation, have made it an attractive partner for leading industry players and investment institutions. For more information, please visit
https://en.leadsbiolabs.com/

CONTACT: Contact:
yizi@leadsbiolabs.com

New ad spot, produced by Colin Jost’s No Notes Productions, airs during NFL Monday Night Football, as part of the company’s Zoom Ahead campaign

SAN JOSE, Calif., Sept. 14, 2026 (GLOBE NEWSWIRE) — Zoom (NASDAQ: ZM) today introduced the next chapter of its Zoom Ahead marketing campaign with a new hero tv spot, “Zoom Got It Done.” The commercial highlights how Zoom’s AI-first platform helps finish the work that originates in conversations.

Across both traditional and digital media, the effort focuses on demonstrating Zoom’s product breadth: an ecosystem that goes far beyond video meetings to include AI agents, automated note-taking, contact center solutions, a productivity suite, and more.

The new commercial picks up where last year’s “I Use Zoom!” spot, featuring Bowen Yang, ended.

“The first ad showed that people prefer Zoom. This one shows why: Zoom actually helps users get work done,” said Kimberly Storin, CMO at Zoom. “Only Colin Jost and Kate McKinnon could turn that into a punchline instead of a product demo.”

Reframing Perception Through Comedy: The “Zoom Got It Done” Ad Spot
Kate McKinnon stars in the ad as an over-the-top CEO who orders her staff to find a way to destroy Zoom once and for all. But every scheme instead ends up proving the value of the Zoom platform in helping get things done — even its own destruction.

Produced in partnership with Colin Jost’s No Notes Productions, the ad showcases a variety of Zoom use cases through a zany yet accurate comedic treatment, turning what could have been a feature readout into something clear, digestible, and funny.

“As someone who aspires to be an evil CEO someday, it was wonderful to live out my dream through Kate McKinnon in this Zoom campaign,” said Colin Jost, founder of No Notes Productions.

“Zoom Got It Done” debuts during Week 1 of the NFL regular season on Monday Night Football, then continues across linear and connected TV, out-of-home, digital, and social placements. The wider Zoom Ahead marketing campaign also continues, featuring creator partnerships, new branded content assets, and Zoom’s MLB sponsorship.

Defining Conversation to Completion
The goal of the Zoom Ahead campaign is to inform users of Zoom’s new and extended product capabilities, a concept the company calls “conversation to completion.”

Across tools like Meetings, Chat, Contact Center, and more, Zoom hosts millions of conversations every day. Through Zoom’s advanced AI capabilities, users can now harness the context of these conversations, and use them to move work towards completion. This allows users to automate things like follow-up emails, meeting summaries, and reports, or even bring that context into 3rd party platforms.

For more on Zoom’s AI-first capabilities, www.zoom.com.

About Zoom
Zoom (NASDAQ: ZM) is an AI-first work platform built for human connection, designed to move conversations to completion. From solopreneurs to global enterprises, customers use Zoom to communicate, collaborate, and get work done across meetings, chat, phone, contact center, events, and more, all supported by Zoom AI. Founded in 2011, Zoom is headquartered in San Jose, California. For more information, visit zoom.com.

Press Contact
Rebecca Bernhard
rebecca.bernhard@zoom.com
press@zoom.us

To Nasdaq Copenhagen A/S

Executive Management Bernstorffsgade 40 DK-1577 København V www.rd.dk Telephone +45 7012 5300 14 September 2026

Auctions of mortgage covered bonds series 10F and 10G for the refinancing of FlexLån^®

Realkredit Danmark will hold auctions on mortgage covered bonds (SDRO) for the refinancing of FlexLån^® as of 1 January 2027. The auctions in series 10F and 10G will be held in the period from 16 November to 20 November 2026.

The preliminary amounts and the distribution on specific ISIN’s are expected to change in the weeks to come. As a consequence, the specific auction dates for the individual ISIN’s will not be announced until the final amounts are known.

The preliminary amount of bonds for the refinancing auctions is listed in the appendix.

The preliminary amount of bonds for the refinancing of FlexLån^® in series 10F and 10G will be updated weekly on rd.dk/Investor starting from week 41.

The final amount of each ISIN to be auctioned including the specific auction dates for each ISIN will be announced early November.

The Executive Management        

Any additional questions should be addressed to Christian Rosenstand, Head of RD Funding, phone
+45 45 13 20 19.

Attachments

• 20260914 Foreløbige mængder_uk
• 20260914 Bilag til selskabsmeddelelse_uk

$450 Million Department of War Committed Investment Expected to Expand ELMT’s Global Tungsten Mining Network and Processing Capabilities

PORTLAND, Maine, Sept. 14, 2026 (GLOBE NEWSWIRE) — The Elmet Group Co. (NASDAQ: ELMT) (“ELMT” or the “Company”), a U.S.-based provider of critical materials, precision-engineered components, and advanced high-energy systems, plans to allocate capital from the $450 million committed investment from the United States Department of War (“DoW”) to establish a more secure, vertically integrated tungsten supply chain while expanding domestic manufacturing and strengthening sources of critical minerals.

The anticipated investments are designed to strengthen America’s tungsten supply chain by expanding domestic manufacturing, securing long-term access to critical raw materials, and establishing an integrated network of sourcing, processing, and refining assets across the globe.

“We expect the funding from the Department of War to enable The Elmet Group to advance a series of transformative initiatives that will strengthen and secure the U.S. tungsten supply chain,” said The Elmet Group CEO and Chairman Peter V. Anania. “Through these initiatives, we are seeking to expand the capacity of our U.S. manufacturing operations while establishing long-term partnerships with Blue Moon Metals and EQ Resources to secure critical feedstock, processing expertise, and downstream manufacturing capabilities. Together, these efforts represent a significant step toward establishing a secure, vertically integrated tungsten supply chain and creating a more resilient allied platform, from mine to finished component, for the defense and industrial markets that depend on this strategic material.”

Tungsten is a strategically important metal valued for its ability to withstand extreme heat, pressure, and wear, making it essential to national defense and a wide range of advanced industrial applications. Its unique properties make it irreplaceable in certain high-performance components used across aerospace, energy, semiconductor, medical, and industrial markets, underscoring the need for reliable and secure sources of supply. ELMT supplies tungsten to critical U.S. defense programs, including Patriot, Javelin, AEGIS, Trident II, and THAAD, as well as Virginia- and Columbia-class submarines, and is the only U.S.-owned vertically integrated producer of tungsten servicing the full breadth of critical end markets.

Expanding American Mineral Manufacturing and Processing

ELMT anticipates directing more than $165 million of the DoW Investment toward the modernization and expansion of the Company’s existing critical infrastructure facilities in Lewiston, Maine; Coldwater, Michigan; and Euclid, Ohio. The upgrades will be intended to increase capacity for key defense and industrial applications, expand production of tungsten heavy alloy and powder products, and strengthen ELMT’s domestic manufacturing infrastructure.

In addition, ELMT plans to allocate approximately $150 million to the Springer Tungsten Complex in Imlay, Nevada, operated by Blue Moon Metals. As part of the investment, ELMT intends to form and operate a majority-owned joint venture with Blue Moon Metals and EQ Resources to restart and expand ammonium paratungstate (“APT”) conversion capacity at the site, creating a significant new source of tungsten processing capacity in North America.

The Springer Mine and mill located at the complex are expected to restart production in the fourth quarter of 2027, while the APT conversion facility owned by the joint venture is expected to begin operations in the second half of 2028. Together, these assets are intended to establish a critical processing hub that connects mine supply with downstream demand and strengthens domestic manufacturing capabilities.

Expanding a Resilient Allied Tungsten Supply Network

In parallel with its domestic manufacturing investments, up to $150 million is expected to be utilized to help ELMT create and advance a network of key partnerships and investments, including the Mt. Carbine Mine in Australia and the Barruecopardo Mine in Spain, to diversify tungsten supply, reduce concentration risk, and establish secure sources of critical materials. Together, these investments are designed to increase access to tungsten feedstock, strengthen supply chain resiliency, and support the development of a more diversified tungsten ecosystem.

By expanding these partnerships, ELMT seeks to build an integrated supply network spanning mining, processing, and advanced manufacturing, further strengthening its ability to support the critical materials, components, and systems required by the United States and its Allies.

Launching Elmet Refining & Trading to Integrate Global Tungsten Supply

To oversee these efforts, ELMT is launching Elmet Refining & Trading (“ERT”), a new division responsible for coordinating sourcing, processing, and material delivery across the Company’s expanding global network. ERT will oversee upstream mining operations and downstream processing and manufacturing assets to enhance supply chain visibility, coordination, and resiliency.

By integrating these capabilities under a single platform, ELMT anticipates gaining greater control over feedstock sourcing, processing capacity, and material flows, enhancing its ability to support customers with reliable, long-term access to critical materials while strengthening its competitive position in strategic end markets.

Supporting the Rebuilding of the U.S. National Defense Stockpile

The initiatives announced today complement The Elmet Group’s recently secured indefinite delivery/indefinite quantity contract with the Defense Logistics Agency (“DLA”) to support the rebuilding of the U.S. National Defense Stockpile. The contract has a ceiling value of up to $2 billion, including a guaranteed minimum commitment of $150 million, and covers the supply of tungsten ores and concentrates and sodium tungstate to DLA Strategic Materials. Importantly, ELMT does not intend to begin deliveries into the stockpile until sufficient incremental supply is available through the mining investments, offtake agreements, and processing capacity expansions described above, ensuring stockpile replenishment does not come at the expense of existing American manufacturers.

This approach aligns stockpile replenishment with the creation of new mining, processing, and manufacturing capacity, to help increase the availability of tungsten across the broader U.S. industrial base while supporting long-term national security objectives.

Advisors
Goldman Sachs & Co. LLC and Cantor Fitzgerald & Co. are acting as financial advisors, Akin Gump Strauss Hauer & Feld LLP and Ellenoff Grossman & Schole LLP are acting as legal advisors, and Joele Frank, Wilkinson Brimmer Katcher is serving as strategic communications advisor to ELMT.

About The Elmet Group
The Elmet Group is a U.S.-based provider of critical materials, precision-engineered components, and advanced high-energy systems for the Aerospace, Defense and Government, Industrial, Medical, Semiconductor and Electronics, and Energy industries. The Company operates through three divisions: Critical Materials Components (CMC), Engineered Microwave Products (EMP), and Elmet Refining & Trading (ERT), leveraging materials science and precision engineering expertise to deliver high-performance solutions. The Elmet Group is dedicated to strengthening domestic manufacturing capabilities to support the U.S. and its Allies’ needs in both critical materials and advanced high-power microwave systems.

Media Contact
media@theelmetgroup.com

Investor Contact
Tom Colton and Greg Bradbury
Gateway Group, Inc.
ELMT@gateway-grp.com
949-574-3860

Forward-looking statements disclaimer
The information in this press release includes forward-looking statements within the meaning of the federal securities laws, including the Private Securities Litigation Reform Act of 1995. These statements generally relate to future events or our future financial or operating performance and include statements regarding (i) the ultimate size of (a) the DoW’s investment, (b) ELMT’s investments into modernizing and expanding its existing facilities, (c) ELMT’s investment in the Blue Moon Springer Tungsten Complex and (d) ELMT’s investments in creating a network of strategic partnerships to diversify Tungsten supply; (ii) Elmet’s ability to: (a) establish a secure, diversified and vertically integrated Tungsten supply chain while expanding domestic manufacturing and strengthening allied sources of critical minerals, (b) expand relationships with key supply-chain partners, (c) secure long-term access to critical raw materials, processing and refining assets, (d) modernize and expand its existing critical infrastructure facilities, (e) effectively meet demand for its products and (f) restart production at the Blue Moon Springer Tungsten Complex on the anticipated timeline and at the anticipated cost; (iii) the creation of ERT enhancing ELMT’s control over feedstock sourcing, processing capacity, material flows and support to customers as well as strengthening its competitive position in strategic end markets; (iv) ELMT’s ability to successfully navigate turbulent raw materials markets; (viii) ELMT’s ability to successfully perform under, and realize the anticipated benefits of, its indefinite delivery/indefinite quantity contract with the Defense Logistics Agency; (ix) ELMT’s ability to realize the anticipated benefits of partnerships, including with Blue Moon Metals and EQ resources as well as the successful operation of joint ventures with such parties; and (x) ELMT’s future performance, expected outcomes and strategic initiatives.
When used in this press release, words such as “expect,” “project,” “estimate,” “believe,” “anticipate,” “intend,” “plan,” “seek,” “forecast,” “target,” “predict,” “may,” “should,” “would,” “could,” and “will,” the negative of these terms and similar expressions are intended to identify forward-looking statements, although not all forward-looking statements contain such identifying words. Forward-looking statements are based on management’s current expectations and assumptions, and are subject to inherent uncertainties, risks and changes in circumstances that are difficult to predict. As a result, actual results could differ materially from those indicated in these forward-looking statements. When considering these forward-looking statements, you should keep in mind the risk factors and other cautionary statements in Elmet’s Registration Statement on Form S-1, as amended (File No. 333-294725) and subsequent filings Elmet makes with the Securities and Exchange Commission. Elmet undertakes no obligation and does not intend to update these forward-looking statements to reflect events or circumstances occurring after this press release. You are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this press release.