Month: September 2026

300% plus increase in six-month net income to $7.12 per share

Record revenues of $550 million in first half of 2026

Net income of $4.40 per share in Q2 2026

$3.6 billion in minimum contracted revenue

Dynamic growth of 26 vessels under construction, seven of which already delivered

$1.50 in common stock dividends paid in 2026

Tanker Market Fundamentals Remain Strong

ATHENS, Greece, Sept. 10, 2026 (GLOBE NEWSWIRE) — TEN, Ltd (NYSE: TEN) (the “Company”) today reported results (unaudited) for the six months and the second quarter ended June 30, 2026.

FIRST HALF 2026 SUMMARY RESULTS
TEN’s fleet generated record gross revenues of $551.4 million, an increase of $161.0 million compared to the first half of 2025.

Adjusted EBITDA for the first half of 2026 was at approximately $324.1 million from $193.2 million in the first six months of 2025.

The net income for the first half of 2026 reached $228.1 million (including $38 million in capital gains), equivalent to $7.12 per share from $1.70 per share in the equivalent 2025 six-month period, an increase of 318%.

Fleet utilization remained unchanged from the corresponding period in 2025 at 96.5%.

The average Time Charter Equivalent (TCE) per vessel per day for the first half of 2026 rose to $43,503, compared with $30,754 in the first half of 2025, representing a 41% increase, driven by the continued strength of the tanker markets.

Vessel operating expenses rose modestly and in line with expectations to $111.0 million, from $102.3 million in the first half of 2025, primarily due to six vessels undergoing scheduled drydocking’s, one being an LNG carrier during the first half of 2026.

Total operating expenses per vessel per day remained at a still competitive $10,298.

Depreciation and amortization totaled $90.4 million, attributable to the operation of newer and larger vessel classes to the fleet.

Total bank debt as of June 30, 2026 was $2.0 billion from $1.8 billion at December 31, 2025, reflecting fleet growth. TEN’s cash balances increased to $466.1 million, $168.0 million higher than the end of December 2025.

Interest and finance costs for the first half of 2026 amounted to $43.4 million, $5.6 million lower than the 2025 first-half level, the result of lower spreads and lower global interest rates achieved on new and refinanced loans. These costs were partially offset by interest income received in the first half of 2026 of $5.6 million.

Q2 2026 SUMMARY RESULTS
TEN’s gross revenues during the second quarter of 2026 reached $298.4 million, an increase of $105.1 million, or 54%, over the corresponding period in 2025.

Adjusted EBITDA for the second quarter of 2026 increased to $170.4 million, 81% higher than the 2025 second quarter level.

Net income in the second quarter of 2026 reached $139.3 million (inclusive of $38 million capital gains), equivalent to $4.40 per share, from $0.67 per share in the second quarter of 2025 which had no capital gains, an increase of 500% plus.

Average TCE per vessel per day in the second quarter of 2026 reached $46,100, 50% higher than the equivalent 2025 period, supported by high fleet utilization rates of nearly 95% amid favorable market fundamentals and geopolitical disruptions.

Fleet operating expenses amounted to $57.7 million, just $5.0 million above the second quarter 2025 level, primarily due to four vessels, including two suezmax tankers, undergoing scheduled drydocking’s during the quarter, compared with three in the corresponding 2025 period.

As a result, operating expenses per vessel per day in the second quarter of 2026 were $10,640.

Depreciation and amortization expenses during the second quarter of 2026 were in line with the increased number of vessels in the fleet at $46.3 million.

Consistent with the first half trend, interest and finance costs in the second quarter of 2026 decreased by $2.3 million from the corresponding 2025 period to settle at $22.6 million, benefiting from lower borrowing spreads and lower global interest rates, while interest income totaled $3.4 million.

SUBSEQUENT EVENTS
As previously announced, on July 28, 2026, TEN took delivery of the DP2 suezmax shuttle tanker Anfield DP from Samsung Heavy Industries Co., Ltd in South Korea, the third in a series of 12 DP2 shuttle tankers under construction at that yard. The vessel commenced a 10-year employment to a US oil major, with charter options to extend the charter until the vessel’s 20th year anniversary. Assuming charterers employ the vessel to the maximum duration, the expected gross revenues should approach $500 million.

As part of its ongoing fleet renewal program, in August 2026 TEN concluded the sale of two 2006-built suezmax tankers, the Alaska and Archangel, for net proceeds of $100 million.

CORPORATE AFFAIRS – COMMON STOCK DIVIDEND

In July 2026, TEN distributed to common shareholders a second semi-annual dividend, amounting to $1.00 per share, following a $0.50 per share payment in February 2026. A total distribution of $1.50 per share in 2026. The Company intends to announce the first semi-annual dividend payment of 2027 in November 2026.

Since the Company’s NYSE listing in 2002, TEN has consistently demonstrated its commitment to reward shareholders, and will have distributed, until the end of 2026 over $1.0 billion in cumulative common and preferred share dividends.

CORPORATE AFFAIRS – SERIES E PREFERRED SHARES

The Company’s 9.25% Series E Preferred Shares become redeemable at the election of the Company on May 28, 2027, and the Company currently expects that it may elect to redeem, all or a portion of, such Series E Preferred Shares on the above stated date. This disclosure does not constitute a notice of redemption, and there can be no assurance as to the amount, if any, of the Series E Preferred Shares that will be redeemed.

CORPORATE STRATEGY
Geopolitical developments around the globe continue to dictate the pace of the ongoing tanker rally which, coupled with favorable market fundamentals, is creating promising conditions for a sustained healthy market going forward.

Taking advantage of the increased ton-mile demand dislocations TEN secured attractive long-term employment to meet client requirements while solidifying the Company’s significant revenue backlog.

In addition, and in line with the stated fleet renewal strategy and considering the size of the new building program, the majority of which ordered against long-term employment, TEN continues to divest from older vessels. The sale of the 2016-built VLCC Ulysses and the two 2006-built suezmax tankers Alaska and Archangel, are a testament to that approach.

With a substantial cash balance of $466 million as of June 30, 2026, which has continued to grow thereafter, the Company remains well positioned to continue its fleet renewal and increasingly reward its shareholders.

“These results underscore the strength of TEN’s diversified fleet and flexible employment strategy which along with vessel sales, affords us the ability to generate healthy cash flows to reward our shareholders, while continuing our dynamic fleet modernization,” stated Mr. George Saroglou, President of TEN. “The company’s well-timed growth program, the largest in its history, will propel TEN going forward and solidify its position as a first-choice partner to the major energy concerns,” Mr. Saroglou concluded.

TEN’s CURRENT NEWBUILDING PROGRAM

#	Name	Type	Delivery (exp)	Status	Employment
CONVENTIONAL TANKERS
1	Dr Irene Tsakos	Suezmax – Scrubber Fitted	Q2 2025	DELIVERED	Yes
2	Silia T	Suezmax – Scrubber Fitted	Q4 2025	DELIVERED	Yes
3	Delos T	MR – Scrubber Fitted	Q1 2026	DELIVERED	Yes
4	Dion	MR – Scrubber Fitted	Q1 2026	DELIVERED	Yes
5	AMAZONA	Panamax LR1 – Scrubber Fitted	Q2 2027	Under Construction	TBA
6	TBN	Panamax LR1 – Scrubber Fitted	Q3 2027	Under Construction	TBA
7	TBN	Panamax LR1 – Scrubber Fitted	Q4 2027	Under Construction	TBA
8	CHAIRMAN DJS	VLCC – Scrubber Fitted	Q4 2027	Under Construction	TBA
9	TBN	VLCC – Scrubber Fitted	Q1 2028	Under Construction	TBA
10	TBN	VLCC – Scrubber Fitted	Q2 2028	Under Construction	TBA
11	TBN	Panamax LR1 – Scrubber Fitted	Q3 2028	Under Construction	TBA
12	TBN	Panamax LR1 – Scrubber Fitted	Q3 2028	Under Construction	TBA
SHUTTLE TANKERS
13	Athens 04	DP2 Shuttle Tanker	Q2 2025	DELIVERED	Yes
14	Paris 24	DP2 Shuttle Tanker	Q3 2025	DELIVERED	Yes
15	Anfield DP	DP2 Shuttle Tanker	Q3 2026	DELIVERED	Yes
16	ARIANO SUASSUNA DP	DP2 Shuttle Tanker	Q3 2027	Under Construction	Yes
17	ELZA SOARES DP	DP2 Shuttle Tanker	Q4 2027	Under Construction	Yes
18	MARIA FIRMINA DP	DP2 Shuttle Tanker	Q1 2028	Under Construction	Yes
19	CAROLINA DE JESUS DP	DP2 Shuttle Tanker	Q2 2028	Under Construction	Yes
20	IPANEMAS DP	DP2 Shuttle Tanker	Q3 2028	Under Construction	Yes
21	MARACANA DP	DP2 Shuttle Tanker	Q3 2028	Under Construction	Yes
22	CORINTHIANS DP	DP2 Shuttle Tanker	Q4 2028	Under Construction	Yes
23	DR SOCRATES DP	DP2 Shuttle Tanker	Q4 2028	Under Construction	Yes
24	TBN	DP2 Shuttle Tanker	Q4 2028	Under Construction	Yes
LNG CARRIERS
25	NY KNICKS	LNG Carrier	Q3 2028	Under Construction	TBA
26	TBN	LNG Carrier	Q1 2029	Under Construction	TBA

ABOUT TEN LTD.
Founded in Bermuda in 1993 and celebrating 33 years as a public company, 24 of which on the NYSE, TEN is one of the first and most established public shipping companies in the world. TEN’s diversified pro-forma energy fleet currently consists of 81 vessels, totaling approx. 10.5 million dwt.

FORWARD-LOOKING STATEMENTS
Except for the historical information contained herein, the matters discussed in this press release are forward-looking statements that involve risks and uncertainties that could cause actual results to differ materially from those predicted by such forward-looking statements. TEN undertakes no obligation to publicly update any forward-looking statement, whether as a result of new information, future events, or otherwise.

Conference Call Details:
As announced previously, today, Thursday, September 10, 2026, at 10:00 a.m. Eastern Time, TEN will host a conference call to review the results as well as management’s outlook for the business. The call, which will be hosted by TEN’s senior management, may contain information beyond what is included in the earnings press release.

Participants should dial into the call 10 minutes before the scheduled time using the following numbers: 877- 405- 1226 (US Toll-Free Dial In) or +1 201-689-7823 (US and Standard International Dial In). Please quote “Tsakos” to the operator and/or conference ID 13762392.
Click here for additional participant International Toll-Free access numbers.

Alternatively, participants can register for the call using the call me option for a faster connection to join the conference call. You can enter your phone number and let the system call you right away. Click here for the call me option.

Simultaneous Slides and Audio Webcast:
There will also be a live, and then archived, webcast of the conference call and accompanying slides, available through the Company’s website. To listen to the archived audio file, visit our website www.tenn.gr and click on Webcasts & Presentations under our Investor Relations page. Participants to the live webcast should register on the website approximately 10 minutes prior to the start of the webcast.

For further information, please contact:

Tsakos Energy Navigation Ltd.
George Saroglou
President & COO
+30210 94 07 710
gsaroglou@tenn.gr

Investor Relations / Media
Capital Link, Inc.
Nicolas Bornozis/ Markella Kara
+212 661 7566
ten@capitallink.com

TSAKOS ENERGY NAVIGATION LIMITED AND SUBSIDIARIES
Selected Consolidated Financial and Other Data
(In Thousands of U.S. Dollars, except share, per share and fleet data)
			Three months ended									Six months ended
			June 30 (unaudited)									June 30 (unaudited)
	STATEMENT OF OPERATIONS DATA		2026					2025				2026					2025
	Voyage revenues	$	298,405				$	193,309			$	551,367				$	390,360
	Voyage expenses		52,126					31,917				81,972					67,980
	Charter hire expense		2,646					3,321				6,032					6,603
	Vessel operating expenses		57,690					52,704				110,954					102,310
	Depreciation and amortization		46,295					42,089				90,443					83,220
	General and administrative expenses		14,792					13,237				27,236					23,143
	Gain on sale of vessels		(37,870	)				–				(37,870	)				(3,553	)
	Total expenses		135,679					143,268				278,767					279,703
	Operating income		162,726					50,041				272,600					110,657
	Interest and finance costs, net		(22,643	)				(24,978	)			(43,430	)				(48,980	)
	Interest income		3,405					3,231				5,606					5,538
	Other, net		(12	)				(4	)			(33	)				(23	)
	Total other expenses, net		(19,250	)				(21,751	)			(37,857	)				(43,465	)
	Net income		143,476					28,290				234,743					67,192
	Less: Net income attributable to the noncontrolling interest		(4,176	)				(1,457	)			(6,601	)				(2,648	)
	Net income attributable to Tsakos Energy Navigation Limited	$	139,300				$	26,833			$	228,142				$	64,544
	Effect of preferred dividends		(6,750	)				(6,750	)			(13,500	)				(13,500	)
	Undistributed and distributed income allocated to non-vested restricted common stock		(684	)				(313	)			(1,108	)				(513	)
	Net income attributable to common stockholders of Tsakos Energy Navigation Limited	$	131,866				$	19,770			$	213,534				$	50,531
	Earnings per share, basic and diluted attributable to Tsakos Energy Navigation Limited common stockholders	$	4.40				$	0.67			$	7.12				$	1.70
	Weighted average number of shares, basic and diluted		29,972,103					29,661,103				29,972,103					29,661,103
	BALANCE SHEET DATA		June 30					December 31
			2026					2025
	Cash		466,143					298,129
	Other assets		286,240					197,009
	Vessels, net		3,155,282					3,156,075
	Advances for vessels under construction		470,050					301,868
	Total assets	$	4,377,715				$	3,953,081
	Debt and other financial liabilities, net of deferred finance costs		2,102,177					1,920,975
	Other liabilities		220,881					169,101
	Stockholders’ equity		2,054,657					1,863,005
	Total liabilities and stockholders’ equity	$	4,377,715				$	3,953,081
			Three months ended									Six months ended
	OTHER FINANCIAL DATA		June 30									June 30
			2026					2025				2026					2025
	Net cash provided by operating activities	$	183,986				$	63,794			$	281,167				$	115,944
	Net cash provided by (used in) investing activities	$	3,763				$	(233,479	)		$	(248,312	)			$	(236,124	)
	Net cash (used in) provided by financing activities	$	(43,022	)			$	107,327			$	135,159				$	59,088
	TCE per ship per day	$	46,100				$	30,767			$	43,503				$	30,754
	Operating expenses per ship per day	$	10,640				$	9,982			$	10,298				$	9,743
	Vessel overhead costs per ship per day	$	2,558				$	2,347			$	2,370				$	2,063
			13,198					12,329				12,668					11,806
	FLEET DATA
	Average number of vessels during period		63.5					62.0				63.5					62.0
	Number of vessels at end of period		64.0					63.0				64.0					63.0
	Average age of fleet at end of period	Years	10.5					10.2				10.5					10.2
	Dwt at end of period (in thousands)		7,702					7,766				7,702					7,766
	Time charter employment – fixed rate	Days	3,569					2,969				7,197					5,841
	Time charter and pool employment – variable rate	Days	1,263					1,771				2,731					3,518
	Period employment coa at market rates	Days	0					0				0					0
	Spot voyage employment at market rates	Days	652					708				1,165					1,507
	Total operating days		5,484					5,448				11,093					10,866
	Total available days		5,783					5,641				11,490					11,216
	Utilization		94.8	%				96.6	%			96.5	%				96.9	%
	Non-GAAP Measures
	Reconciliation of Net income to Adjusted EBITDA
			Three months ended									Six months ended
			June 30									June 30
			2026					2025				2026					2025
	Net income attributable to Tsakos Energy Navigation Limited	$	139,300				$	26,833			$	228,142				$	64,544
	Depreciation and amortization		46,295					42,089				90,443					83,220
	Interest Expense		22,643					24,978				43,430					48,980
	Gain on sale of vessels		(37,870	)				–				(37,870	)				(3,553	)
	Adjusted EBITDA	$	170,368				$	93,900			$	324,145				$	193,191
	The Company reports its financial results in accordance with U.S. generally accepted accounting principles (GAAP). However, management believes that certain non-GAAP measures used within the financial community may provide users of this financial information additional meaningful comparisons between current results and results in prior operating periods as well as comparisons between the performance of Shipping Companies. Management also uses these non-GAAP financial measures in making financial, operating and planning decisions and in evaluating the Company’s performance. We are using the following Non-GAAP measures:
	(i) TCE which represents voyage revenue less voyage expenses, is divided by the number of operating days less 63 days lost for the second quarter and 137 days for the first half of 2026 as a result of calculating revenue on a loading to discharge basis, compared to 84 days lost for the second quarter and 148 days for the first half of 2025.
	(ii) Vessel overhead costs are General & Administrative expenses, which also include Management fees, Stock compensation expense and Management incentive award.
	(iii) Operating expenses per ship per day which exclude Management fees, General & Administrative expenses, Stock compensation expense and Management incentive award.
	(iv) Adjusted EBITDA. See above for reconciliation to net income.
	Non-GAAP financial measures should be viewed in addition to and not as an alternative for, the Company’s reported results prepared in accordance with GAAP.
	The Company does not incur corporation tax.

SOUTHAMPTON, Pa., Sept. 10, 2026 (GLOBE NEWSWIRE) — Environmental Tectonics Corporation (OTCID: ETCC) (“ETC” or the “Company”) today announced that it has completed the sale of 100% of the equity interests of its wholly owned Polish subsidiary, ETC-PZL Aerospace Industries sp.z o.o. (“ETC-PZL) to Fabryka Artykułów Turystycznych i Sportowych Polsport sp. z o.o., a limited liability company incorporated under the laws of the Republic of Poland.

The transaction is part of the Company’s ongoing efforts to focus its resources on its core businesses and strategically align its operations with its long term objectives. The Company expects the transaction to have a positive impact on its ongoing consolidated financial results.

ETC and ETC-PZL entered into a separate 10-year Cooperation Agreement under which ETC-PZL will serve as a preferred supplier to the Company for certain products manufactured by ETC-PZL. Under the agreement, the Company retains the ability to manufacture the applicable products internally if the parties are unable to reach mutually acceptable commercial terms, if ETC-PZL is unable to meet the Company’s supply requirements or if ETC-PZL is unable to supply based on certain applicable regulatory requirements.

Robert L. Laurent, Jr., ETC’s Chief Executive Officer and President stated, “I look forward to continuing the longstanding strategic partnership with ETC-PZL. This transaction provides ETC a meaningful opportunity to improve operating results while maintaining continuity of supply and the flexibility to manufacture products internally.”

About ETC

ETC designs, manufactures, and sells software-driven products and services used to recreate and monitor the physiological effects of motion on humans, and equipment to control, modify, simulate and measure environmental conditions. Our products include aircrew training systems (aeromedical, tactical combat, and general), disaster management systems, sterilizers (steam and gas), environmental testing and simulation systems, and other products that involve similar manufacturing techniques and engineering technologies. ETC’s unique ability to offer complete systems, designed and produced to high technical standards, sets it apart from its competition. ETC’s headquarters is in Southampton, PA. For more information about ETC, visit http://www.etcusa.com/.

Forward-looking Statements
This news release contains forward-looking statements, which are based on management’s expectations and are subject to uncertainties and changes in circumstances. Words and expressions reflecting something other than historical fact are intended to identify forward-looking statements, and these statements may include terminology such as “may”, “will”, “should”, “expect”, “plan”, “anticipate”, “believe”, “estimate”, “future”, “predict”, “potential”, “intend”, or “continue”, and similar expressions. We base our forward-looking statements on our current expectations and projections about future events or future financial performance. Our forward-looking statements are subject to known and unknown risks, uncertainties and assumptions about ETC and its subsidiaries that may cause actual results to be materially different from any future results implied by these forward-looking statements. We caution you not to place undue reliance on these forward-looking statements. 

CONTACT: Contact: Tim Kennedy, CFO
Phone: (215) 355-9100 
E-mail: info@etcusa.com 

ATHENS, Greece, Sept. 10, 2026 (GLOBE NEWSWIRE) — IMPERIAL PETROLEUM INC. (NASDAQ: IMPP; the “Company”), a ship-owning company providing petroleum products, crude oil and dry bulk seaborne transportation services, announced today its unaudited financial and operating results for the second quarter and six months ended June 30, 2026.

OPERATIONAL AND FINANCIAL HIGHLIGHTS

• Fleet operational utilization of 73.5% in Q2 26’.
• Approximately 50% of total fleet calendar days in Q2 26’ were dedicated to time charter activity while approximately 39% were dedicated to spot activity.
• Delivery of the dry bulk carrier, Eco Crossfire (2012 built), on April 3, 2026 and delivery of the drybulk carrier, Outrider (2016 built), on August 21, 2026.
• Sale of our tanker Suez Enchanted (2007 built) to third parties, on August 7, 2026, creating a net gain on sale of approximately $32 million.
• All-time high quarterly revenues of $87.1 million in Q2 26’ compared to $61.7 million in Q1 26’ and $36.3 million in Q2 25’, representing a 41.2% increase and a 139.9% increase, respectively.
• Near all-time high operating income of $33.4 million in Q2 26’ marking a $6.9 million or 26.0% increase compared to Q1 26’ and a $25.2 million or 307.3% increase compared to Q2 25’.
• Net income of $34.8 million in Q2 26’- the second best in our history- compared to $28.0 million in Q1 26’, and $12.8 million in Q2 25’, representing a 24.3% and 171.9% increase, respectively.
• Basic EPS of $0.75 in Q2 26’ and $1.34 for 6M 2026.
• EBITDA¹ of $41.2 million for Q2 26’.
• Continued enhancement of our liquidity through efficient vessel operations; cash and cash equivalents including time deposits of $245.2 million as of June 30, 2026 compared to $179.1 million as of December 31, 2025 – corresponding to an increase of 36.9%. Our current cash base is about $260 million.
• For the 6M’ 2026 our Net Income came in at $62.8 million, already exceeding our 12M’ 2025 net income  performance of $50.0 million.

Second Quarter 2026 Results: 

• Revenues for the three months ended June 30, 2026, amounted to $87.1 million, an increase of $50.8 million or 139.9%, compared to revenues of $36.3 million for the three months ended June 30, 2025, primarily due to a 6.9 vessel increase in the average number of vessels in our fleet, along with an increase in both tanker and drybulk rates driven by geopolitical tensions, mostly affecting the tanker vessels, and favorable market dynamics in the drybulk market.
• Voyage expenses and vessels’ operating expenses for the three months ended June 30, 2026, were $22.1 million and $14.4 million, respectively, compared to $10.7 million and $8.4 million, respectively, for the three months ended June 30, 2025. The $11.4 million increase in voyage expenses is mainly attributed to increased bunker costs by mainly due to an increase in spot days by 58.4% and increased bunkers’ prices. The $6.0 million increase in vessels’ operating expenses is primarily due to the increase of our fleet by an average of 6.9 vessels.
• Drydocking costs for the three months ended June 30, 2026 and 2025 were $7.5 million and $1.7 million, respectively. During the three months ended June 30, 2026, six vessels underwent drydocking whereas during the three months ended June 30, 2025, one suezmax tanker and one supramax drybulk carrier underwent drydocking.
• General and administrative costs for the three months ended June 30, 2026 and 2025, were $1.1 million in each period.
• Depreciation for the three months ended June 30, 2026 and 2025, was $8.2 million and $5.7 million, respectively. The change is attributable to the increase in the average number of vessels in our fleet.
• Management fees for the three months ended June 30, 2026 and 2025, were $0.8 million and $0.6 million, respectively. The change is attributable to the increase in the average number of vessels in our fleet.
• Interest and finance costs for the three months ended June 30, 2026 and 2025, were $0.4 million and $0.8 million, respectively. The $0.4 million of costs for the three months ended June 30, 2026 related mainly to accrued interest expense – related party in connection with the $19.2 million and $12.3 million portions of the acquisition price of our bulk carriers, Post Marvel and Eco Crossfire, respectively, which were completely settled in the third quarter of 2026. The $0.8 million of costs for the three months ended June 30, 2025 related mainly to accrued interest expense – related party in connection with our last nine vessel acquisitions, for which the purchase agreements allowed vessel repayment to take place within up to one year from the agreement date. For accounting purposes, the outstanding balances payable on the vessels were required to be allocated between principal and imputed interest, despite the fact that no interest was contractually charged by the sellers. The total amount ultimately paid remains consistent with the originally agreed purchase prices.
• Interest income for the three months ended June 30, 2026, was $2.1 million as compared to $2.3 million for the three months ended June 30, 2025. The $0.2 million decrease is mainly attributed to a period on period decline in time deposit rates and amounts placed in time deposits.
• Foreign exchange (loss)/gain for the three months ended June 30, 2026, was a loss of $0.6 million as compared to a gain of $3.0 million for the three months ended June 30, 2025. The $0.6 million foreign exchange loss for the three months ended June 30, 2026 is mainly attributed to the weakening of the Euro currency against the Dollar at the end of the three months ended June 30, 2026 when compared to the respective currency values prevailing at the end of March 2026.
•  As a result of the above, for the three months ended June 30, 2026, the Company reported net income of $34.8 million, compared to net income of $12.8 million for the three months ended June 30, 2025. Dividends paid on Series A Preferred Shares amounted to $0.4 million for the three months ended June 30, 2026. The weighted average number of shares of common stock outstanding, basic, for the three months ended June 30, 2026 was 45.4 million. Earnings per share, basic and diluted, for the three months ended June 30, 2026 amounted to $0.75 and $0.70, respectively, compared to earnings per share, basic and diluted, of $0.36 and $0.35, respectively, for the three months ended June 30, 2025.
•  Adjusted net income¹ was $35.3 million corresponding to an Adjusted EPS¹, basic of $0.76 for the three months ended June 30, 2026 compared to an Adjusted net income of $13.4 million, or an Adjusted EPS, basic, of $0.38 for the same period of last year.
•  EBITDA¹ for the three months ended June 30, 2026 amounted to $41.2 million, while Adjusted EBITDA¹ for the three months ended June 30, 2026 amounted to $41.7 million.
• An average of 21.0 vessels were owned by the Company during the three months ended June 30, 2026 compared to 14.1 vessels for the same period of 2025.

Six Months 2026 Results:

• Revenues for the six months ended June 30, 2026 amounted to $148.8 million, an increase of $80.4 million or 117.5%, compared to revenues of $68.4 million for the six months ended June 30, 2025, primarily due to a 7.4 vessel increase in the average number of vessels in our fleet, along with an increase in tanker rates noticeable from the beginning of 2026 and drybulk rates which mostly improved in the second quarter of 2026.
• Voyage expenses and vessels’ operating expenses for the six months ended June 30, 2026, were $34.9 million and $25.6 million, respectively, compared to $21.2 million and $15.5 million, respectively, for the six months ended June 30, 2025. The $13.7 million increase in voyage expenses is mainly attributed to an increase in spot days by 40.3%. The $10.1 million increase in vessels’ operating expenses is primarily due to the increase in the average number of vessels in our fleet by 7.4 vessels.
• Drydocking costs for the six months ended June 30, 2026 and 2025, were $9.0 million and $1.7 million, respectively. During the six months ended June 30, 2026, seven vessels underwent drydocking whereas during the six months ended June 30, 2025, one suezmax tanker and one supramax drybulk carrier underwent drydocking.
• General and administrative costs for the six months ended June 30, 2026 and 2025, were $2.2 million and $2.3 million, respectively. This decrease is mainly attributed to the decrease in stock-based compensation costs.
• Depreciation for the six months ended June 30, 2026 was $16.1 million, a $5.4 million increase from $10.7 million for the same period of last year, due to the increase in the average number of our vessels.
• Management fees for the six months ended June 30, 2026 and 2025, were $1.6 million and $1.0 million, respectively. The change is attributable to the increase in the average number of vessels in our fleet.
• Interest and finance costs for the six months ended June 30, 2026 and 2025, were $0.6 million and $1.4 million, respectively. The $0.6 million of costs for the six months ended June 30, 2026 related mainly to accrued interest expense – related party in connection with the $19.2 million and $12.3 million portions of the acquisition prices of our bulk carriers, Post Marvel and Eco Crossfire, respectively, which were completely settled in the third quarter of 2026. The $1.4 million of costs for the six months ended June 30, 2025 related mainly to accrued interest expense – related party in connection with our last nine vessel acquisitions, for which the purchase agreements allowed vessel repayment to take place within up to one year from the agreement date. For accounting purposes, the outstanding balances payable on the vessels were required to be allocated between principal and imputed interest, despite the fact that no interest was contractually charged by the sellers. The total amount ultimately paid remains consistent with the originally agreed purchase prices.
• Interest income for the six months ended June 30, 2026 and 2025, was $3.9 million and $4.5 million, respectively. The $0.6 million decrease is mainly attributed to a decline in time deposit rates and amounts placed in time deposits.
• Foreign exchange (loss)/gain for the six months ended June 30, 2026 was a loss of $0.8 million as compared to a gain of $4.7 million for the six months ended June 30, 2025. The $0.8 million foreign exchange loss for the six months ended June 30, 2026 is mainly attributed to the weakening of the Euro currency against the US Dollar at the end of the six months ended June 30, 2026 when compared to the respective currency values prevailing at the end of the year 2025.
• As a result of the above, the Company reported net income for the six months ended June 30, 2026 of $62.8 million, compared to a net income of $24.1 million for the six months ended June 30, 2025. The weighted average number of shares outstanding, basic, for the six months ended June 30, 2026 was 45.3 million. Earnings per share, basic and diluted, for the six months ended June 30, 2026 amounted to $1.34 and $1.27, respectively compared to earnings per share, basic and diluted, of $0.67 and $0.65 for the six months ended June 30, 2025.
• Adjusted Net Income was $63.9 million corresponding to an Adjusted EPS, basic, of $1.37 for the six months ended June 30, 2026 compared to an Adjusted Net Income of $25.6 million, or an Adjusted EPS, basic, of $0.72, basic, for the same period of last year.
• EBITDA for the six months ended June 30, 2026 amounted to $75.6 million while Adjusted EBITDA for the six months ended June 30, 2026 amounted to $76.7 million. Reconciliations of Adjusted Net Income, EBITDA and Adjusted EBITDA to Net Income are set forth below.
• An average of 20.4 vessels were owned by the Company during the six months ended June 30, 2026 compared to 13.0 vessels for the same period of 2025.
• As of June 30, 2026, cash and cash equivalents including time deposits amounted to $245.2 million and total debt amounted to nil.

¹ EBITDA, Adjusted EBITDA, Adjusted Net Income and Adjusted EPS are non-GAAP measures. Refer to the reconciliation of these measures to the most directly comparable financial measure in accordance with GAAP set forth later in this release. Reconciliations of Adjusted Net Income, EBITDA and Adjusted EBITDA to Net Income are set forth below.

Fleet Employment Table

As of September 10, 2026, the profile and deployment of our fleet is the following:

Name	Year	Country	Vessel Size	Vessel	Employment	Expiration of
	Built	Built	(dwt)	Type	Status	Charter (1)
Tankers
Magic Wand	2008	Korea	47,000	MR product tanker	Spot
Clean Thrasher	2008	Korea	47,000	MR product tanker	Spot
Clean Sanctuary	2009	Korea	46,000	MR product tanker	Time Charter	September 26
Clean Nirvana	2008	Korea	50,000	MR product tanker	Spot
Clean Justice	2011	Japan	46,000	MR product tanker	Time Charter	September 27
Aquadisiac	2008	Korea	51,000	MR product tanker	Spot
Clean Imperial	2009	Korea	40,000	MR product tanker	Spot
Suez Protopia	2008	Korea	160,000	Suezmax tanker	Spot
Drybulk Carriers
Eco Wildfire	2013	Japan	33,000	Handysize drybulk	Time Charter	October 26
Glorieuse	2012	Japan	38,000	Handysize drybulk	Time Charter	September 26
Neptulus	2012	Japan	33,000	Handysize drybulk	Time Charter	October 26
Supra Pasha	2012	Japan	56,000	Supramax drybulk	Time Charter	September 26
Supra Monarch	2011	Japan	56,000	Supramax drybulk	Spot
Supra Baron	2009	Japan	56,000	Supramax drybulk	Time Charter	September 26
Supra Sovereign	2012	Japan	56,000	Supramax drybulk	Time Charter	November 26
Supra Duke	2011	Japan	56,000	Supramax drybulk	Spot
Eco Sikousis	2008	Japan	82,000	Kamsarmax drybulk	Time Charter	September 26
Eco Czar	2009	Japan	82,000	Kamsarmax drybulk	Time Charter	October 26
Post Marvel	2013	Japan	96,000	Post Panamax	Time Charter	October 26
Eco Crossfire	2012	Japan	33,000	Handysize drybulk	Time Charter	September 26
Outrider	2016	Japan	33,000	Handysize drybulk	Spot
Fleet Total (2)			1,197,000 dwt

(1) (2)

Earliest date charters could expire. We have agreements to acquire an additional three handysize drybulk carriers of 107,400 dwt aggregate capacity and a product tanker of 50,000 dwt capacity, with deliveries scheduled in 2026.

CEO Harry Vafias Commented

Our exceptional second quarter and first half of 2026 demonstrate the power of our commercial strategy and disciplined execution. By securing record revenues of $87.1 million for Q2 26’, expanding our fleet toward a 25-vessel target while remaining debt free, we have driven net income for the first six months to a remarkable $62.8 million, already surpassing our profitability for the entirety of 2025. Backed by a solid balance sheet and with cash to date in the order of approximately $260 million and a fleet value anticipated to increase with our upcoming vessel additions, we are well equipped to navigate shifting geopolitical landscapes. Imperial Petroleum is in a prime position to produce strong results, while holding a flawless balance sheet and a track record of creating value through the Company’s growth and strategic asset management.

Conference Call details:

On September 10, 2026 at 10:00 am ET, the company’s management will host a conference call to discuss the results and the company’s operations and outlook.

Online Registration:

Conference call participants should pre-register using the link below to receive the dial-in numbers and a personal PIN, which are required to access the conference call.

https://register-conf.media-server.com/register/BIe85f8402e2104ed2803a92fc451f9847

Slides and audio webcast:
There will also be a live and then archived webcast of the conference call, through the IMPERIAL PETROLEUM INC. website (www.ImperialPetro.com). Participants to the live webcast should register on the website approximately 10 minutes prior to the start of the webcast.

About IMPERIAL PETROLEUM INC.

IMPERIAL PETROLEUM INC. is a ship-owning company providing petroleum products, crude oil and drybulk seaborne transportation services. The Company owns a total of twenty-one vessels on the water – seven M.R. product tankers, one suezmax tanker, five handysize drybulk carriers, five supramax drybulk carriers, two kamsarmax drybulk vessels and a post panamax drybulk carrier – with a total capacity of approximately 1,197,000 deadweight tons (dwt) and has contracted to acquire an additional three handysize drybulk carriers and a product tanker of 157,400 dwt aggregate capacity. Following these deliveries, the Company’s fleet will count a total of 25 vessels with an aggregate capacity of about 1.3 million dwt. IMPERIAL PETROLEUM INC.’s shares of common stock and 8.75% Series A Cumulative Redeemable Perpetual Preferred Stock are listed on the Nasdaq Capital Market and trade under the symbols “IMPP” and “IMPPP,” respectively.

Forward-Looking Statements

Matters discussed in this release may constitute forward-looking statements. Forward-looking statements reflect our current views with respect to future events and financial performance and may include statements concerning plans, objectives, goals, strategies, future events or performance, including our intentions relating to fleet growth and financing, and outlook for our shipping sectors and vessel earnings, and underlying assumptions and other statements, which are other than statements of historical facts. The forward-looking statements in this release are based upon various assumptions, many of which are based, in turn, upon further assumptions, including without limitation, management’s examination of historical operating trends, data contained in our records and other data available from third parties. Although IMPERIAL PETROLEUM INC. believes that these assumptions were reasonable when made, because these assumptions are inherently subject to significant uncertainties and contingencies which are difficult or impossible to predict and are beyond our control, IMPERIAL PETROLEUM INC. cannot assure you that it will achieve or accomplish these expectations, beliefs or projections. Important factors that, in our view, could cause actual results to differ materially from those discussed in the forward-looking statements include the strength of world economies and currencies, geopolitical conditions, including any trade disruptions resulting from tariffs and other protectionist measures imposed by the United States or  other countries,  general market conditions, including changes in charter hire rates and vessel values, charter counterparty performance, changes in demand that may affect attitudes of time charterers to scheduled and unscheduled drydockings, changes in IMPERIAL PETROLEUM INC’s operating expenses, including bunker prices, drydocking and insurance costs, ability to complete the acquisitions of our four contracted vessels and to fund the purchase price for these and other recently acquired vessels, ability to obtain financing and comply with covenants in our financing arrangements, actions taken by regulatory authorities, potential liability from pending or future litigation, domestic and international political conditions, the conflict in Ukraine and related sanctions, the conflicts in the Middle East, potential disruption of shipping routes due to ongoing attacks by Houthis in the Red Sea and Gulf of Adenand the effective closure of the Persian Gulf, including the Strait of Hormuz, due to the conflict between Iran and the U.S. and Israel, or accidents and political events or acts by terrorists.

Risks and uncertainties are further described in reports filed by IMPERIAL PETROLEUM INC. with the U.S. Securities and Exchange Commission.

Fleet List and Fleet Deployment
For information on our fleet and further information:
Visit our website at www.ImperialPetro.com

Company Contact:
Fenia Sakellaris
IMPERIAL PETROLEUM INC.
E-mail: info@ImperialPetro.com

Fleet Data:
The following key indicators highlight the Company’s operating performance during the periods ended June 30, 2025 and June 30, 2026.

FLEET DATA	Q2 2025	Q2 2026	6M 2025	6M 2026
Average number of vessels (1)	14.1	21.0	13.0	20.4
Period end number of owned vessels in fleet	19	21	19	21
Total calendar days for fleet (2)	1,284	1,909	2,355	3,698
Total voyage days for fleet (3)	1,237	1,704	2,304	3,468
Fleet utilization (4)	96.3%	89.3%	97.8%	93.8%
Total charter days for fleet (5)	764	955	1,268	2,014
Total spot market days for fleet (6)	473	749	1,036	1,454
Fleet operational utilization (7)	83.1%	73.5%	83.4%	80.9%

1) Average number of vessels is the number of owned vessels that constituted our fleet for the relevant period, as measured by the sum of the number of days each vessel was a part of our fleet during the period divided by the number of calendar days in that period.
2) Total calendar days for fleet are the total days the vessels we operated were in our possession for the relevant period including off-hire days associated with major repairs, drydockings or special or intermediate surveys.
3) Total voyage days for fleet reflect the total days the vessels we operated were in our possession for the relevant period net of off-hire days associated with major repairs, drydockings or special or intermediate surveys.
4) Fleet utilization is the percentage of time that our vessels were available for revenue generating voyage days, and is determined by dividing voyage days by fleet calendar days for the relevant period.
5) Total charter days for fleet are the number of voyage days the vessels operated on time or bareboat charters for the relevant period.
6) Total spot market charter days for fleet are the number of voyage days the vessels operated on spot market charters for the relevant period.
7) Fleet operational utilization is the percentage of time that our vessels generated revenue and is determined by dividing voyage days excluding idle days by fleet calendar days for the relevant period.

Reconciliation of Adjusted Net Income, EBITDA, adjusted EBITDA and adjusted EPS:

Adjusted net income represents net income before share based compensation. EBITDA represents net income before interest and finance costs, interest income and depreciation. Adjusted EBITDA represents net income before interest and finance costs, interest income, depreciation and share based compensation.

Adjusted EPS represents Adjusted net income divided by the weighted average number of shares. EBITDA, adjusted EBITDA, adjusted net income and adjusted EPS are not recognized measurements under U.S. GAAP. Our calculation of EBITDA, adjusted EBITDA, adjusted net income and adjusted EPS may not be comparable to that reported by other companies in the shipping or other industries. In evaluating Adjusted EBITDA, Adjusted net income and Adjusted EPS, you should be aware that in the future we may incur expenses that are the same as or similar to some of the adjustments in this presentation.

EBITDA, adjusted EBITDA, adjusted net income and adjusted EPS are included herein because they are a basis, upon which we and our investors assess our financial performance. They allow us to present our performance from period to period on a comparable basis and provide investors with a means of better evaluating and understanding our operating performance. Management also uses these non-GAAP financial measures in making financial, operating and planning decisions and in evaluating our performance.

(Expressed in United States Dollars, except number of shares)	Second Quarter Ended June 30th,		Six Months Period Ended June 30th,
	2025	2026	2025	2026
Net Income – Adjusted Net Income
Net income	12,759,434	34,758,699	24,050,420	62,779,787
Plus share based compensation	671,643	519,451	1,560,719	1,101,156
Adjusted Net Income	13,431,077	35,278,150	25,611,139	63,880,943
Net income – EBITDA
Net income	12,759,434	34,758,699	24,050,420	62,779,787
Plus interest and finance costs	838,089	383,595	1,444,472	592,147
Less interest income	(2,274,170)	(2,111,496)	(4,458,564)	(3,921,937)
Plus depreciation	5,746,291	8,194,580	10,749,128	16,125,505
EBITDA	17,069,644	41,225,378	31,785,456	75,575,502
Net income – Adjusted EBITDA
Net income	12,759,434	34,758,699	24,050,420	62,779,787
Plus share based compensation	671,643	519,451	1,560,719	1,101,156
Plus interest and finance costs	838,089	383,595	1,444,472	592,147
Less interest income	(2,274,170)	(2,111,496)	(4,458,564)	(3,921,937)
Plus depreciation	5,746,291	8,194,580	10,749,128	16,125,505
Adjusted EBITDA	17,741,287	41,744,829	33,346,175	76,676,658
EPS
Numerator
Net income	12,759,434	34,758,699	24,050,420	62,779,787
Less: Cumulative dividends on preferred shares	(435,246)	(435,246)	(870,492)	(870,492)
Less: Undistributed earnings allocated to non-vested shares	(410,718)	(517,685)	(869,583)	(1,041,668)
Net income attributable to common shareholders, basic	11,913,470	33,805,768	22,310,345	60,867,627
Denominator
Weighted average number of shares	33,267,487	45,350,830	33,107,097	45,338,067
EPS – Basic	0.36	0.75	0.67	1.34
Adjusted EPS
Numerator
Adjusted net income	13,431,077	35,278,150	25,611,139	63,880,943
Less: Cumulative dividends on preferred shares	(435,246)	(435,246)	(870,492)	(870,492)
Less: Undistributed earnings allocated to non-vested shares	(433,101)	(525,519)	(928,132)	(1,060,195)
Adjusted net income attributable to common shareholders, basic	12,562,730	34,317,385	23,812,515	61,950,256
Denominator
Weighted average number of shares	33,267,487	45,350,830	33,107,097	45,338,067
Adjusted EPS	0.38	0.76	0.72	1.37

Imperial Petroleum Inc.
Unaudited Consolidated Statements of Income
(Expressed in United States Dollars, except for number of shares)

					Quarters Ended June 30,				Six Month Periods Ended June 30,
					2025		2026		2025		2026
Revenues
	Revenues				36,348,819		87,073,466		68,440,445		148,786,861
Expenses/(Income)
	Voyage expenses				10,271,965		21,058,763		20,326,079		33,065,678
	Voyage expenses – related party				432,863		1,036,218		834,616		1,785,657
	Vessels’ operating expenses				8,297,520		14,192,655		15,319,448		25,267,523
	Vessels’ operating expenses – related party				109,000		160,000		207,500		335,000
	Drydocking costs				1,692,033		7,525,438		1,692,033		8,959,177
	Management fees – related party				564,960		839,960		1,036,200		1,627,120
	General and administrative expenses				1,064,964		1,097,701		2,282,941		2,152,123
	Depreciation				5,746,291		8,194,580		10,749,128		16,125,505
	Other operating income				—		(430,324)		—		(430,324)
Total expenses, net					28,179,596		53,674,991		52,447,945		88,887,459
Income from operations					8,169,223		33,398,475		15,992,500		59,899,402
Other (expenses)/income
	Interest and finance costs				(3,115)		(4,471)		(6,722)		(8,618)
	Interest expense – related party				(834,974)		(379,124)		(1,437,750)		(583,529)
	Interest income				2,274,170		2,111,496		4,458,564		3,921,937
	Dividend income from related party				189,583		189,583		377,083		377,083
	Foreign exchange gain/(loss)				2,964,547		(557,260)		4,666,745		(826,488)
Other income, net					4,590,211		1,360,224		8,057,920		2,880,385
Net Income					12,759,434		34,758,699		24,050,420		62,779,787
Earnings per share
– Basic					0.36		0.75		0.67		1.34
– Diluted					0.35		0.70		0.65		1.27
Weighted average number of shares
– Basic					33,267,487		45,350,830		33,107,097		45,338,067
– Diluted					35,172,985		48,126,056		34,407,373		47,874,673

Imperial Petroleum Inc.
Unaudited Consolidated Balance Sheets
(Expressed in United States Dollars)

					December 31,		June 30,
					2025		2026
Assets
Current assets
	Cash and cash equivalents				5,771,505		7,518,702
	Time deposits				173,282,440		237,712,000
	Trade and other receivables				13,403,555		18,666,099
	Other current assets				1,107,956		1,239,819
	Claims receivable				479,488		909,813
	Inventories				4,720,873		10,422,022
	Advances and prepayments				245,014		671,496
Total current assets					199,010,831		277,139,951
Non current assets
	Operating lease right-of-use asset				—		263,445
	Vessels, net				335,406,781		354,689,276
	Investment in related party				12,990,167		12,983,917
Total non current assets					348,396,948		367,936,638
Total assets					547,407,779		645,076,589
Liabilities and Stockholders’ Equity
Current liabilities
	Trade accounts payable				5,959,924		13,859,897
	Payable to related parties				3,038,447		35,151,918
	Accrued liabilities				4,195,986		6,373,316
	Operating lease liability, current portion				—		100,985
	Deferred income				3,399,325		2,653,956
Total current liabilities					16,593,682		58,140,072
Non current Liabilities
Operating lease liability, non-current portion					—		162,460
Total non-current liabilities					—		162,460
Total liabilities					16,593,682		58,302,532
Commitments and contingencies
Stockholders’ equity
	Capital stock				489,006		504,406
	Preferred Stock, Series A				7,959		7,959
	Preferred Stock, Series B				160		160
	Treasury stock				(8,390,225)		(19,020,716)
	Additional paid-in capital				344,445,271		349,111,027
	Retained earnings				194,261,926		256,171,221
Total stockholders’ equity					530,814,097		586,774,057
Total liabilities and stockholders’ equity					547,407,779		645,076,589

Imperial Petroleum Inc.
Unaudited Consolidated Statements of Cash Flows
(Expressed in United States Dollars)

					Six Month Periods Ended June 30,
					2025		2026
Cash flows from operating activities
	Net income for the period				24,050,420		62,779,787
Adjustments to reconcile net income to net cash
provided by operating activities:
	Depreciation				10,749,128		16,125,505
	Non-cash lease expense				38,849		46,941
	Share-based compensation				1,560,719		1,101,156
	Unrealized foreign exchange loss/(gain) on time deposits				(1,030,640)		586,884
Changes in operating assets and liabilities:
	(Increase)/decrease in
	Trade and other receivables				670,769		(5,262,544)
	Other current assets				485,977		(131,863)
	Claims receivable				—		(430,325)
	Inventories				1,319,526		(5,701,149)
	Changes in operating lease liabilities				(38,849)		(46,941)
	Advances and prepayments				25,021		(426,482)
	Due from related parties				2,084		6,250
	Increase/(decrease) in
	Trade accounts payable				955,699		7,899,973
	Due to related parties				2,990,748		291,101
	Accrued liabilities				(132,345)		2,177,330
	Deferred income				765,748		(745,369)
Net cash provided by operating activities					42,412,854		78,270,254
Cash flows from investing activities
	Payments for improvement and capitalized expenses of vessels				(417,320)		—
	Increase in bank time deposits				(101,608,390)		(331,215,788)
	Maturity of bank time deposits				157,081,011		266,199,344
Net cash provided by/(used in) investing activities					55,055,301		(65,016,444)
Cash flows from financing activities
	Stock repurchases				—		(10,630,491)
	Dividends paid on preferred shares				(868,075)		(876,122)
	Repayment of seller and capital expenditures financing				(36,700,000)		—
Net cash used in financing activities					(37,568,075)		(11,506,613)
Net increase in cash and cash equivalents					59,900,080		1,747,197
Cash and cash equivalents at beginning of period					67,783,531		5,771,505
Cash and cash equivalents at end of period					127,683,611		7,518,702
Cash breakdown
	Cash and cash equivalents				127,683,611		7,518,702
Total cash and cash equivalents shown in the statements of cash flows					127,683,611		7,518,702

Access the segment here

ISELIN, N.J., Sept. 10, 2026 (GLOBE NEWSWIRE) — Outlook Therapeutics, Inc. (Nasdaq: OTLK), a biopharmaceutical company focused on the development and commercialization of LYTENAVA™ (bevacizumab-vikg, bevacizumab gamma) for the treatment of retinal diseases, today announced that Bob Jahr, Chief Executive Officer, recently participated in a Virtual Investor CEO Connect segment discussing the significance of the FDA approval of LYTENAVA and the Company’s plans for its U.S. commercial launch.

During the segment, Mr. Jahr discusses the potential of LYTENAVA to address the significant U.S. retina market by providing physicians with the only FDA-approved ophthalmic formulation of bevacizumab for wet AMD. He also discusses the Company’s potential to shift existing off-label use to LYTENAVA and its opportunity to achieve more than $500 million in annual U.S. sales by 2030.

The segment also highlights Outlook Therapeutics’ commercial readiness efforts ahead of its planned U.S. launch before the end of 2026, including manufacturing, distribution, market access, reimbursement, and physician education, as well as key learnings from the Company’s commercialization efforts in Europe.

“FDA approval of LYTENAVA marks an important transformation for Outlook Therapeutics as we move into our next phase as a commercial-stage company,” said Bob Jahr. “We believe LYTENAVA has the potential to make a meaningful impact for retina physicians and patients while addressing a significant market opportunity. We are focused on executing our U.S. launch strategy and building on the experience gained through our European commercialization efforts.”

The Virtual Investor CEO Connect segment is available to watch here.

About LYTENAVA™ (bevacizumab-vikg, bevacizumab gamma)

LYTENAVA™ is an ophthalmic formulation of bevacizumab produced in the United States for the treatment of wet AMD. In the United States, LYTENAVA (bevacizumab-vikg) is the only ophthalmic formulation approved by the FDA. LYTENAVA (bevacizumab gamma) is also the subject of a centralized Marketing Authorization granted by the European Commission in the EU and Marketing Authorization granted by the Medicines and Healthcare products Regulatory Agency (MHRA) in the UK for the treatment of wet AMD. In certain European Union Member States, LYTENAVA must receive pricing and reimbursement approval before it can be sold.

Bevacizumab-vikg (bevacizumab gamma in the EU and UK) is a recombinant humanized IgG1 monoclonal antibody specific to human vascular endothelial growth factor (VEGF). Bevacizumab binds VEGF and prevents the interaction of VEGF to its receptors (Flt-1 and KDR) on the surface of endothelial cells. LYTENAVA binds to all isoforms of VEGF-A, thereby preventing interaction with receptors VEGFR-1 and VEGFR-2. By inhibiting VEGF-A, LYTENAVA suppresses endothelial cell proliferation, neovascularization, and vascular permeability. Inhibition of such activity targets a pathophysiologic process that contributes to vision loss.

Important Safety Information and Indication

LYTENAVA (bevacizumab-vikg) is a vascular endothelial growth factor (VEGF) inhibitor indicated for the treatment of patients with neovascular (wet) age-related macular degeneration (nAMD).

Contraindications

LYTENAVA is contraindicated in patients with ocular or periocular infections, in patients with active intraocular inflammation, and in patients with a known hypersensitivity to bevacizumab products or any of the ingredients in LYTENAVA. Hypersensitivity reactions may manifest as severe intraocular inflammation.

Warnings and Precautions

Intravitreal injections have been associated with endophthalmitis and retinal detachments. Proper aseptic injection technique must always be used when administering LYTENAVA. In addition, patients should be monitored following the injection to permit early treatment should an infection occur.

Increases in intraocular pressure have been noted post-injection (up to 60 minutes) while being treated with LYTENAVA. Monitor intraocular pressure prior to and following intravitreal injection with LYTENAVA and manage appropriately.

Although there was a low rate of arterial thromboembolic events (ATEs) observed in the LYTENAVA clinical trials, there is a potential risk of ATEs following intravitreal use of VEGF inhibitors. ATEs are defined as nonfatal stroke, nonfatal myocardial infarction, or vascular death (including deaths of unknown cause).

Adverse Reactions

The most common adverse reaction (≥1%) reported in patients receiving LYTENAVA was conjunctival hemorrhage (4%), eye pain (2%), and vitreous floaters (2%). These are not all the possible side effects of LYTENAVA.

You are encouraged to report side effects of prescription drugs to the FDA.

Visit www.fda.gov/medwatch or call 1-800-FDA-1088. You may also report side effects to Outlook Therapeutics at 1-833-999-OTLK (6855).

Please see the full U.S. Prescribing Information for LYTENAVA here.

About Outlook Therapeutics, Inc.

Outlook Therapeutics is a biopharmaceutical company focused on the development and commercialization of LYTENAVA (bevacizumab-vikg (U.S.), bevacizumab gamma (E.U.)). LYTENAVA is the only ophthalmic formulation of bevacizumab to receive U.S. FDA approval and European Commission and MHRA Marketing Authorization for the treatment of wet AMD. Outlook Therapeutics commenced commercial launch of LYTENAVA (bevacizumab gamma) in Germany, Austria, and the UK as a treatment for wet AMD.

Forward-Looking Statements

This press release contains statements that may or are considered “forward-looking statements”. All statements other than statements of historical facts are “forward-looking statements,” including those relating to future events. In some cases, you can identify forward-looking statements by terminology such as “anticipate,” “believe,” “can,” “could,” “continue,” “expect,” “may,” “on track,” “plan,” “potential,” “target,” “will,” or “would”, the negative of terms like these or other comparable terminology, and other words or terms of similar meaning. These include, among others, express or implied discussions regarding the Company’s planned launch of LYTENAVA in the United States and other jurisdictions and the timing thereof; expectations concerning potential revenue generation from sales of LYTENAVA; expectations surrounding market adoption of LYTENAVA; expectations regarding the potential impact of LYTENAVA in the retina community; Outlook Therapeutics’ development or future revenue plans for LYTENAVA generally; and other statements that are not historical fact. Although Outlook Therapeutics believes that it has a reasonable basis for the forward-looking statements contained herein, they are based on current expectations about future events affecting Outlook Therapeutics and are subject to risks, uncertainties, and factors relating to its operations and business environment, all of which are difficult to predict and many of which are beyond its control. These risk factors include those risks associated with developing and commercializing pharmaceutical product candidates, risks in obtaining necessary regulatory approvals, the content and timing of decisions by regulatory bodies, as well as those risks detailed in Outlook Therapeutics’ filings with the Securities and Exchange Commission (the SEC), including the Current Report on Form 8-K filed with the SEC on August 12, 2026 and the Quarterly Report on Form 10-Q for the quarter ended June 30, 2026, and future reports Outlook Therapeutics files with the SEC, which include uncertainty of market conditions and future impacts related to macroeconomic factors, including as a result of the ongoing overseas conflicts, tariffs, and trade tensions, fluctuations in interest rates and inflation, and potential future bank failures on the global business environment. These risks may cause actual results to differ materially from those expressed or implied by forward-looking statements in this press release. All forward-looking statements included in this press release are expressly qualified in their entirety by the foregoing cautionary statements. You are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof. Outlook Therapeutics does not undertake any obligation to update, amend, or clarify these forward-looking statements, whether as a result of new information, future events, or otherwise, except as may be required under applicable securities law.

Investor Inquiries:
Jenene Thomas
Chief Executive Officer
JTC Team, LLC
T: 908.824.0775
OTLK@jtcir.com

A small group of experienced marketers and political organizations begins putting live campaigns through Totaligent’s unified communications platform, not to hunt bugs, but to run work.

BOCA RATON, Fla., Sept. 10, 2026 (GLOBE NEWSWIRE) — Totaligent, Inc. (OTCID: TGNT) (“Totaligent” or “the Company”) today announced the opening of Phase I of its Founders Pilot, an invitation-only, real-world deployment of the Company’s communications operating system with a small group of sophisticated clients and political organizations already performing live campaigns through the platform.

Phase I participants are not clicking around looking for bugs. They are operators, experienced marketers and organizations, running actual commercial and campaign work inside Totaligent: audience creation, omnichannel distribution, measurement, onboarding, billing, support, and scale under live conditions.

“Software that only works in a demo is still a demo,” said Ted DeFeudis, Chief Executive Officer of Totaligent. “We know the software is solid, but now we need to know how a campaign performs across the various integrated modules, in a real-world environment. Phase I is invite-only because the first users have to be people who already know how to run a book of work, and who will tell us, in production, what the system still owes them.”

Phase I: Founders Pilot

Phase I is a limited, invitation-only cohort. Participants begin using Totaligent in live environments to validate the full operating loop the Company intends to commercialize:

Workflows: one audience, every channel, one source of truth across email, SMS, social, audience creation, and programmatic advertising. AI landing-page creation and publishing, plus every Google and native ad size.

Onboarding: domain, DNS, identity, and account setup under real client conditions;

Billing and commercial use: how work is priced, invoiced, and supported when campaigns are actually in market;

Scale and support: volume, concurrency, attribution, and operator response when the work is not hypothetical.

The purpose is to prove the platform in live production: that the full operating loop can run real campaigns, end to end, under actual commercial and campaign conditions. Totaligent said Phase I is designed to confirm that unified communications infrastructure (Smart Capture, Smart Engage, Smart Links, and Smart Cookies) on a shared ledger can track and carry live campaigns uninterrupted.

That premise was set out in White Paper No. 1, published September 3, 2026, in the Company’s Future of Enterprise Communications series. The paper argued that enterprise marketing software has become a memory problem: U.S. internet advertising reached a record $294.6 billion in 2025 while typical on-site conversion remains under 3 percent, and the landscape now includes more than 15,500 commercial marketing-technology products with utilization still near half of what marketers already pay for. Phase I is the first operating test of the alternative the paper described; a system AI can run because the system can remember.

Who Is Invited, and Who Is Not

Access in Phase I is restricted. The Company is seating experienced growth teams, operators, and political organizations that already run campaigns at a level where workflow, identity, compliance, and measurement are not theoretical. Public self-serve enrollment is not part of this stage.

Totaligent opened a public beta of its consumer-facing platform on March 5, 2025, and on December 23, 2025 announced completion of quality-assurance testing across the core marketing and campaign platform. The Founders Pilot is the next step in that sequence: from architecture and QA to live use by operators who will keep the resulting relationship, not rent it back from another vendor next quarter.

“We did not bolt a chatbot onto the stack,” DeFeudis said, restating the design line from the white paper. “The platform is built for agents to operate inside it. Phase I is the foundation that makes all the pieces work together.”

Next

The Company said it will expand the Founders program only as Phase I confirms onboarding, billing, support, and campaign performance under load. Operators interested in later Founders access may write contact@totaligent.com. White Paper No. 1 remains available at www.totaligent.com/whitepaper1

About Totaligent, Inc.

Totaligent, Inc. (OTCID: TGNT) develops person-based digital communications infrastructure for organizations that need to create audiences, launch omnichannel campaigns, and keep the resulting relationship. The Company’s platform is designed to unify email, bulk SMS, social, audience creation, and programmatic advertising, together with audience intelligence, AI creative production, attribution, and automation, inside one operating environment.

Totaligent’s architecture is intended to replace a fragmented marketing software stack with a communications system built so AI can operate it, not merely decorate it. For more information, visit www.totaligent.com.

Forward-Looking Statements

This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. These statements involve known and unknown risks, uncertainties, and other factors that may cause actual results to differ materially from those expressed or implied. Such risks include, but are not limited to, the Company’s ability to execute its platform strategy, realize the anticipated benefits of its architecture and product roadmap, complete the Founders Pilot and subsequent commercial phases on the expected timetable, adapt to rapidly evolving artificial intelligence technologies, compete in enterprise software and digital-advertising markets, obtain additional capital, and achieve commercial milestones. Third-party market statistics cited in prior Company materials and in this release are estimates that may be revised. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof. The Company undertakes no obligation to update any forward-looking statements.

Investor Relations
ir@totaligent.com
Ben Hansel (720) 288-8495
Totaligent, Inc. | 3651 FAU Blvd, Suite 400, Boca Raton, FL 33431 | (561) 360-3565

Media / Founders Pilot inquiries: contact@totaligent.com

Person subject to the notification requirement
Name: Ninnas, Toivo
Position: Member of the Supervisory Board

Issuer: AS Tallink Grupp
LEI: 529900QRMWAKKR3L9W75

Notification type: Initial Notification

Transaction date: 10.09.2026
Place of transaction: OTC
Instrument type: Share
ISIN: EE3100004466
Nature of the transaction: exercise of a stock option
(X) linked to stock option program

Transaction details:
(1): Volume: 300,000; Unit price: 0.47 EUR

Aggregated transactions:
(1): Volume: 300,000; Volume weighted average price: 0.47 EUR

Anneli Simm
Investor Relations Manager

AS Tallink Grupp
Sadama 5
10111 Tallinn
E-mail: Anneli.simm@tallink.ee
Phone: +372 56157170

Person subject to the notification requirement
Name: Ninnas, Toivo
Position: Member of the Supervisory Board

Issuer: AS Tallink Grupp
LEI: 529900QRMWAKKR3L9W75

Notification type: Initial Notification

Transaction date: 10.09.2026
Place of transaction: OTC
Instrument type: Share
ISIN: EE3100004466
Nature of the transaction: exercise of a stock option
(X) linked to stock option program

Transaction details:
(1): Volume: 300,000; Unit price: 0.47 EUR

Aggregated transactions:
(1): Volume: 300,000; Volume weighted average price: 0.47 EUR

Anneli Simm
Investor Relations Manager

AS Tallink Grupp
Sadama 5
10111 Tallinn
E-mail: Anneli.simm@tallink.ee
Phone: +372 56157170

Order from a leading Israeli defense prime, supports a European production line for a critical air-defense system

NEW YORK and NETANYA, Israel, Sept. 10, 2026 (GLOBE NEWSWIRE) — T3 Defense Inc. (Nasdaq: DFNS) (“T3 Defense” or the “Company”), a defense company that acquires and operates mission-critical defense businesses involved in national security programs, today announced that its wholly owned subsidiary, Rimon Agencies Ltd. (“Rimon”), has received a purchase order valued at approximately $1.3 million from a leading Israeli defense prime contractor. Rimon will supply engineered power-generation systems for a European production line supporting a critical air-defense system.

The equipment will be built and configured to the prime contractor’s specifications and the requirements of serial defense production, with deliveries scheduled for the customer’s European production facility.

This order is the first Rimon purchase order tied to European air-defense production activity, demonstrating demand for its engineered power-generation systems in a critical defense-production environment.

“Europe’s continued investment in layered air defense would create demand for the sub-systems our businesses provide,” said Menny Shalom, Chairman and Chief Executive Officer of T3 Defense. “This order from a leading Israeli prime contractor is a tangible example of that demand. Rimon has been selected to supply power-generation systems for a critical air-defense production line in Europe, reinforcing the strategic relevance of the portfolio we have assembled, and it opens a path for Rimon into the European air-defense supply chain, where we see multi-year, program-driven demand for exactly this class of hardware.”

“This is a production-line order, not a one-off delivery, that reflects Rimon’s engineering and manufacturing capabilities and established record supporting Israel’s most demanding customers,” said Itamar Shimoni, Chief Executive Officer of Rimon. “Power generation is where Rimon started, and supplying it into a European defense production environment is a significant step in the expansion of our footprint beyond Israel. We are preparing for the initial delivery phase while continuing to evaluate and invest in building the capacity required to support additional volume from this customer and others.”

Portfolio Context

T3 Defense continues to position its operating subsidiaries, including Rimon, Positech, Tiltan, ITS, and Nimbus across the mission-critical hardware and systems used in defense and counter-drone programs. The Company’s portfolio spans launcher systems, tactical mobility, power generation, positioning and navigation, command-and-control, and training and simulation capabilities that support the deployment, operation and sustainment of layered defense architectures.

Rimon’s recent performance reflects growing demand for its capabilities. As of July 31, 2026, Rimon had generated approximately $5.25 million in year-to-date revenue, already exceeding its full-year 2025 revenue of $4.6 million. As of the same date, Rimon had approximately $2.1 million in backlog scheduled for delivery through year-end. The new order has been added to that backlog.

Through its subsidiaries, T3 Defense seeks to serve defense customers and prime contractors in Israel, Europe and other allied markets, where modernization, readiness and force-protection requirements are driving demand for these categories of equipment and support.

About Rimon

Rimon is a bespoke engineering and systems integration company that develops mission-ready infrastructure platforms for defense, homeland security, and emergency response operations. The company imports, distributes, and upgrades mobile power systems, elevated sensor masts, and builds integrated mission vehicles that support surveillance, communications, and command systems operating in environments where permanent infrastructure is unavailable. By engineering systems around real operational requirements, Rimon enables critical technologies to be deployed rapidly and operate reliably in demanding field conditions.

About T3 Defense Inc.

T3 Defense Inc. (Nasdaq: DFNS) is a defense company that acquires and operates mission-critical defense businesses involved in national security programs. It focuses on manufacturers with strong customer relationships and solid order backlogs, often capacity- and resource-constrained, in specialized areas such as drones and autonomous vehicles, counter-drone systems, advanced manufacturing, tactical robotics, and AI software and system integration. Through disciplined acquisitions, centralized capital and strategy, and decentralized day-to-day operations, T3 Defense aims to strengthen essential defense capabilities and build long-term value. For more information, visit www.t3dfns.com.

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 statements other than statements of historical fact are forward-looking statements, including, without limitation, statements regarding the anticipated timing, phasing and completion of deliveries under the order described herein; the recognition of revenue from such order; the potential for follow-on, recurring or additional orders from the customer or other parties; European air- and missile-defense demand and procurement trends; the potential for Rimon or the Company’s other subsidiaries to qualify into or participate in European defense supply chains; Rimon’s operational expansion plans; and the Company’s growth and acquisition strategy. These statements are based on management’s current expectations and assumptions and involve known and unknown risks and uncertainties that could cause actual results to differ materially from those expressed or implied, including: the risk that the order is modified, delayed, reduced or cancelled by the customer; customer acceptance, testing and qualification requirements; export-control, licensing, local-content and shipping requirements applicable to deliveries to Europe; the risk that a single order is not indicative of future orders or of participation in any broader program; dependence on a limited number of defense prime contractors and customer concentration; defense program funding, procurement timing and the pace of European production activity; manufacturing execution, capacity and supply-chain risks, including the availability of components; the risk that backlog does not convert into revenue; competitive and geopolitical conditions, including conditions in Israel and in Europe; the Company’s liquidity and capital resources; the Company’s ability to maintain compliance with Nasdaq listing requirements; the integration of acquired businesses; and other risks described in the Company’s filings with the Securities and Exchange Commission, including its Annual Report on Form 10-K, Quarterly Reports on Form 10-Q, and Current Reports on Form 8-K. Forward-looking statements speak only as of the date of this release, and the Company undertakes no obligation to update or revise them, except as required by law.

Contact Us:

T3 Defense Inc.
575 5th Avenue
New York, NY 10017
contact@t3dfns.com
www.t3dfns.com

Rimon
Chen Ganzer
chen.ganzer@rimon1.com

Investor Relations
The Equity Group Inc.
Lena Cati
lena.cati@theequitygroup.com
+1 212 836-9611

Val Ferraro
val.ferraro@theequitygroup.com
+1 212 836-9633

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/358e2d78-f966-49aa-bba1-c1ac294d8e9e