Month: October 2026

• XEN1701 achieved target profile, including desired Na_V1.7 receptor occupancy in both the peripheral and central nervous system, and was generally well-tolerated with no notable autonomic cardiovascular effects
• XEN1120 achieved plasma levels predictive of analgesic effects based on preclinical modeling and was generally well-tolerated
• New preclinical data in cynomolgus monkeys demonstrated significant reductions in capsaicin-evoked heat pain for Na_V1.7 and K_V7 compounds
• Phase 2 proof-of-concept studies assessing XEN1701 and XEN1120 in acute pain expected to initiate in H1 2027

VANCOUVER, BC and BOSTON, MA, Oct. 29, 2026 (GLOBE NEWSWIRE) — Xenon Pharmaceuticals Inc. (Nasdaq: XENE), a neuroscience-focused biopharmaceutical company dedicated to drug discovery, clinical development, and commercialization of life-changing therapeutics for patients in need, today announced positive Phase 1 study results and new preclinical data supporting the advancement of XEN1701 and XEN1120 to Phase 2 proof-of-concept studies in acute pain. Data were presented in two poster presentations during the International Association for the Study of Pain (IASP) 2026 World Congress on Pain, taking place October 26–30, 2026 in Bangkok, Thailand.

XEN1701 and XEN1120 are potent, selective ion channel modulators designed to target Na_V1.7 and K_V7, respectively. Na_V1.7 and K_V7 represent novel, non-opioid pain targets with significant supportive preclinical, clinical, and human genetic and expression data. XEN1701 and XEN1120 have been developed using Xenon’s deep expertise in genetics, ion channel biology, and novel chemistries to enable potent, selective ion channel targeting.

“This is an incredibly exciting milestone for Xenon given our significant history with both Na_V1.7 and K_V7, and it brings us closer to delivering a new generation of innovative non-opioid therapeutics for acute and chronic pain,” said Ian Mortimer, President and CEO of Xenon. “The XEN1701 data are especially exciting as Na_V1.7 has long been recognized by the field as having the strongest genetic evidence among novel pain targets, and many companies have tried to develop Na_V1.7 inhibitors without success. The Phase 1 data strengthen our belief that XEN1701 has a profile unlike any Na_V1.7 compound previously tested in the clinic, achieving high target receptor occupancy without a notable pattern of cardiovascular effects. We are optimistic that we may be on the precipice of realizing the potential of this promising pain target.”

“Our Phase 1 studies of XEN1701 and XEN1120 achieved all of our goals, demonstrating the desired profiles for both compounds and strongly supporting their advancement to Phase 2 acute pain studies for rapid proof-of-concept,” said Chris Kenney, MD, Chief Medical Officer of Xenon. “We also are highly encouraged by additional preclinical data shared in these posters, including data in cynomolgus monkeys where a Xenon Na_V1.7 inhibitor comparable to XEN1701 demonstrated up to a 100% reduction in evoked pain when central and peripheral receptor occupancies were above 75%, without effects on blood pressure or heart rate in this preclinical model. In the same model, a K_V7 compound comparable to XEN1120 also demonstrated a significant reduction in evoked pain, and XEN1120 has also demonstrated analgesic activity in the mouse formalin model during the acute phase, which has typically only been seen with opioids.”

Xenon is finalizing Phase 2 acute pain study designs for each program and expects to initiate both studies in the first half of 2027.

Highlights from XEN1701 Poster: “XEN1701, a Phase 2-Ready Na_V1.7 Inhibitor: Advancing a Novel Non-Opioid Strategy for Pain”

• Study Design: Healthy participants were enrolled in Single Ascending Dose (SAD), Multiple Ascending Dose (MAD), food-effect, and cerebrospinal fluid (CSF) collection cohorts (n=76 XEN1701 and n=22 placebo) to assess the safety, tolerability, pharmacokinetics (PK), food effect, and central nervous system (CNS) penetration of XEN1701. CSF sampling was performed in open-label cohorts to measure CNS drug exposure.
• Free Drug Exposure: XEN1701 exhibited dose-dependent and rapid increases in plasma exposure across the evaluated dose ranges. XEN1701 and its active metabolite demonstrated a consistent metabolite-to-parent exposure ratio across all doses and the combined exposure profile supports the potential to achieve therapeutically relevant Na_V1.7 inhibition.
• High Receptor Occupancy: Plasma and CSF sampling and predicted receptor occupancy modeling indicated that the proposed Phase 2 dose levels achieved and maintained more than 75% Na_V1.7 receptor occupancy in both the peripheral and central nervous system with twice-daily (BID) dosing. Human genetic evidence has established that more than 75% Na_V1.7 inhibition is associated with a pain-free clinical phenotype.
• Generally Well-Tolerated Safety Profile: There were no treatment-related, dose-limiting treatment-emergent adverse events (TEAEs), serious TEAEs, or TEAEs leading to study drug discontinuation. Most TEAEs were mild; those observed in more than one participant in the MAD cohorts included headache (10% XEN1701 overall vs. 10% pooled placebo), dizziness (6.7% vs. 10% placebo), and postural dizziness (6.7% vs. 0% placebo).
  • Treatment-related TEAEs potentially related to autonomic cardiovascular effects were infrequent and balanced (6.6% vs. 4.2% placebo), with no consistent dose- or exposure-related patterns and none occurring at the highest dose levels. These findings support that the proposed Phase 2 dose levels have not shown a consistent pattern of autonomic cardiovascular effects of the kind reported for other Na_V1.7 compounds in published literature.
• Significant Pain Reduction Observed in Non-Human Primates: Preclinical data evaluating XPC-4, a Xenon compound comparable to XEN1701, in cynomolgus monkeys demonstrated that doses achieving more than 75% Na_V1.7 receptor occupancy were associated with significant reductions in capsaicin-evoked heat pain, including ~85-100% reduction at the two highest doses tested. No clinically meaningful change in systolic arterial blood pressure or heart rate relative to vehicle was observed with XPC-4 at the highest two doses tested.

Highlights from XEN1120 Poster: “XEN1120, a Phase 2-Ready K_V7 Channel Opener: Advancing a Novel Non-Opioid Strategy for Pain”

• Study Design: Healthy participants were enrolled in SAD, MAD, and food-effect cohorts (n=54 XEN1120 and n=18 placebo) to assess the safety, tolerability, PK, and food effect of XEN1120.
• Plasma Levels in Predicted Efficacious Range: Clinical PK data demonstrated that XEN1120 exceeded the predicted efficacious exposures established from preclinical rodent and non-human primate efficacy models. PK modeling demonstrated that a loading dose rapidly achieved target exposures while maintenance dosing sustained plasma concentrations within the predicted efficacious range for the duration required for an acute pain proof-of-concept study.
• Generally Well-Tolerated Safety Profile: There were no treatment-related, dose-limiting TEAEs, serious or severe TEAEs, or TEAEs leading to study drug discontinuation. Most TEAEs were mild and the most common TEAEs observed in more than one participant in the MAD cohorts included tachycardia (33.2% XEN1120 overall vs. 12.5% pooled placebo), dizziness (29.2% vs. 0% placebo) and somnolence (25% vs. 0% placebo).
• Robust Analgesic Activity in Mouse Formalin Model: The mouse formalin model involves a biphasic pain response consisting of an acute nociceptive phase, followed by a longer lasting inflammatory phase. Many analgesics work in the inflammatory phase, whereas only opioids typically show efficacy in the acute phase. XEN1120 demonstrated dose-dependent pain reductions in the acute phase of the formalin model, and notably, at exposures that were substantially lower than the comparator flupirtine, an earlier generation pain treatment with a mechanism of action involving potassium channel opening.
• Significant Pain Reduction Observed in Non-Human Primates: Preclinical data evaluating XPC-B, a Xenon compound comparable to XEN1120, demonstrated dose-dependent reductions in capsaicin-evoked heat pain in cynomolgus monkeys. Analgesic activity was achieved at approximately 2.3-fold lower exposures relative to the formalin mouse model, suggesting the potential to achieve analgesic activity at lower doses in humans.

Acute and chronic pain affects more people than diabetes, heart disease, and cancer combined, yet effective, long-term treatment options are scarce. Acute pain serves as the body’s normal, short-term alarm signal in response to an injury or illness. In contrast, chronic pain is a widespread condition defined by IASP as pain that lasts or recurs for more than three months, and may persist even after the initial cause has healed. It’s more common than many realize; 2021 data from the U.S. Centers for Disease Control and Prevention (CDC) show that it affects more than one in five American adults, often impacting daily life and well-being.

About Xenon’s Pain Pipeline
Xenon’s clinical-stage pain pipeline includes three investigational therapeutic programs, including XEN1701 and XEN1720, which are designed to block the activity of the sodium channels (Na_V1.7) that trigger pain signaling, and XEN1120, which is designed to enhance the activity of the potassium channels (K_V7) that mitigate pain signals.

Xenon has extensive history researching Na_V1.7 as a novel pain target. This history started more than 20 years ago with the identification of a loss of function in SCN9A, which encodes the Na_V1.7 sodium channel, as the cause of congenital indifference to pain (CIP), an extremely rare autosomal recessive disorder whose carriers are unable to feel pain but are otherwise healthy. More recently, Xenon has focused on optimizing chemistry to address the limitations of earlier drug candidates targeting Na_V1.7, resulting in its current clinical candidates XEN1701 and XEN1720.

XEN1120 reflects more than a decade of Xenon’s research on K_V7 channels. Multiple lines of evidence support K_V7 as a therapeutic target for pain. K_V7 channels are broadly expressed throughout the peripheral and central pain pathways. They play a significant role in the initial transduction of pain stimuli into pain signals, the transmission of those pain signals along nociceptive neurons, and the relay from peripheral sensory neurons to spinal cord neurons in the central nervous system. Dysfunction or downregulation of K_V7 channel activity has also been observed in altered pain states, contributing to sensory neuron hyperexcitability and enhanced pain signaling.

About Xenon Pharmaceuticals Inc.
Xenon Pharmaceuticals (Nasdaq: XENE) is a neuroscience-focused biopharmaceutical company dedicated to drug discovery, clinical development, and commercialization of life-changing therapeutics for patients in need. Xenon’s lead molecule, azetukalner, is a novel, potent K_V7 potassium channel opener in late-stage clinical development for the treatment of epilepsy, major depressive disorder and bipolar depression. Xenon is also advancing an early-stage portfolio of multiple promising potassium and sodium channel modulators, including K_V7 and Na_V1.7 programs in Phase 1 development for the potential treatment of pain. Xenon has offices in Vancouver, British Columbia, and Boston, Massachusetts. For more information, visit www.xenon-pharma.com and follow us on LinkedIn and X.

Xenon and the Xenon logo are registered trademarks or trademarks of Xenon Pharmaceuticals Inc. in the US, Canada and elsewhere. All other trademarks belong to their respective owner.

Safe Harbor Statement
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, and the Private Securities Litigation Reform Act of 1995 and Canadian securities laws. These forward-looking statements are not based on historical fact, and include statements regarding the status of, and potential results from, pre-clinical and clinical studies; the potential efficacy, safety profile, future development plans in current and anticipated indications, addressable market, regulatory success and commercial potential of our and our partners’ product candidates; the efficacy of our clinical study designs; our ability to achieve milestones in our pipeline and development programs, including the initiation of clinical studies; and our ability to successfully develop, obtain regulatory approval for, and commercialize our product candidates. These forward-looking statements are based on current assumptions that involve risks, uncertainties and other factors that may cause the actual results, events, or developments to be materially different from those expressed or implied by such forward-looking statements. These risks and uncertainties, many of which are beyond our control, include, but are not limited to: clinical studies may not demonstrate safety and efficacy of any of our or our collaborators’ product candidates; promising results from pre-clinical development activities or early clinical study results may not be replicated in later clinical studies; our assumptions regarding our planned expenditures and sufficiency of our cash to fund operations may be incorrect; our ongoing discovery and pre-clinical efforts may not yield additional product candidates; any of our or our collaborators’ product candidates may fail in development, may not receive required regulatory approvals, or may be delayed to a point where they are not commercially viable; we may not achieve additional milestones in our proprietary or partnered programs; regulatory agencies may delay the initiation or completion of clinical studies or impose additional requirements prior to approval; the impact of market, industry, and regulatory conditions on clinical study enrollment; the impact of competition; the impact of expanded product development and clinical activities on operating expenses; the impact of new or changing laws and regulations; the impact of unstable economic conditions in the general domestic and global economic markets; adverse conditions from geopolitical events; as well as the other risks identified in our filings with the U.S. Securities and Exchange Commission and the securities commissions in British Columbia, Alberta, and Ontario. These forward-looking statements speak only as of the date hereof and we assume no obligation to update these forward-looking statements, and readers are cautioned not to place undue reliance on such forward-looking statements.

Contacts
For Investors:
Laura Perry/Emily Huang
Argot Partners
Xenon@argotpartners.com

For Media:
Colleen Alabiso
Senior Vice President, Corporate Affairs
media@xenon-pharma.com

HGS becomes first announced GSI customer of Rackspace’s Managed Compute and Inference Platform, powered by AMD

Multi-year infrastructure and services agreement adds to Rackspace’s Enterprise AI growth vector

Deployment gives HGS greater control over AI compute, while expanding its ability to deliver private and sovereign-ready cloud solutions to enterprise customers

SAN ANTONIO, Oct. 29, 2026 (GLOBE NEWSWIRE) — Rackspace Technology® (NASDAQ: RXT), a global enterprise AI infrastructure and solutions provider, today announced that Hinduja Global Solutions (HGS) (listed on BSE & NSE), an intelligent experiences partner, has selected Rackspace to provide the private cloud, AI compute infrastructure, powered by AMD, supporting its strategy to deliver AI-powered intelligent experiences for enterprise customers. The 3-year deployment will begin in December 2026 and will give HGS greater control over AI economics, security and compute while expanding the solutions it can offer enterprise customers in the US and UK. HGS is part of the multi-billion-dollar Hinduja Group, one of the world’s largest diversified business groups. The deal also marks the first announced GSI customer deployment under Rackspace’s multiyear AMD compute agreement.

As AI reshapes the business process services industry, providers are moving beyond traditional outsourcing models to deliver more technology and AI-enabled services. That evolution requires infrastructure capable of supporting AI alongside existing business-critical workloads, with dedicated compute, operational expertise, deployment flexibility and the performance and control enterprises require.

“AI is forcing a fundamental reset of the business services industry,” said Phil Fersht, CEO and Chief Analyst, HFS Research. “Competitive advantage will increasingly come from providers that can combine deep process expertise with the AI infrastructure, compute and operational capabilities needed to deliver at scale. The HGS and Rackspace relationship is a strong example of how services firms can bring together domain expertise and technology execution to build the foundation for the next generation of AI-enabled services.”

“As HGS expands its AI capabilities, we recognize that production AI requires us to think differently about the infrastructure beneath our applications,” said Venkatesh Korla, Global Chief Executive Officer of HGS. “Working with Rackspace gives us control over the cost, security and performance of our AI infrastructure, and adds private and sovereign-ready cloud capabilities that broaden what we can deliver to customers.”

The multi-year Rackspace and AMD agreement covers an initial 30 MW footprint of dedicated AMD compute across Rackspace’s global data centers from late 2026 through 2028. The agreement established AMD as a strategic technology partner for the silicon layer of Rackspace’s governed enterprise AI stack, expanding the compute options available to customers as their AI requirements evolve. The HGS selection and deployment demonstrate how that investment translates into infrastructure for enterprise AI workloads.

“AI is pushing enterprises to reconsider where critical workloads run and how much control they retain over their infrastructure, data and economics,” said Gajen Kandiah, Chief Executive Officer of Rackspace Technology. “HGS shows what production AI requires: dedicated compute, private cloud and managed operations working alongside public cloud. We built our governed enterprise AI stack for exactly this, and the AMD agreement gives customers a clear path from capacity to production.”

By adding Rackspace’s private cloud, data center, and AI infrastructure to its technology and managed services capabilities, HGS is expanding its offerings stack for enterprise customers. The infrastructure will help HGS bring secure, real-time customer context into frontline interactions and digital channels, enabling more personalized and responsive experiences at critical moments. It also strengthens HGS’ ability to support organizations looking for greater control over their data, AI environments, and regulatory requirements.

The deployment reflects continued investment by Rackspace in a governed enterprise AI stack, bringing together dedicated AI compute, private cloud infrastructure and managed operations to support enterprise AI at production scale. The deployment also demonstrates the role private cloud and dedicated AI infrastructure can play as technology and business services providers evolve their operating models for an AI-driven market.

About HGS

HGS is a global provider of technology, AI, and business services that helps organizations transform with confidence. Rooted in decades of operational excellence, HGS combines automation, analytics, artificial intelligence, and deep domain expertise to deliver Intelligent Experiences across the customer lifecycle, from digital customer care to back-office operations, human resources outsourcing, and advanced contact center solutions.

Building on our strong foundation in CX and business process management, we are expanding into new related areas by integrating technology, data, and operational insight to deliver real business results. Our Realized AI methodology brings discipline, speed, and certainty to transformation, delivering right-sized, practical solutions that work here and now, including a 90-day Proof of Value commitment that validates measurable impact in live environments before scaling.

HGS also operates NXTDIGITAL (www.nxtdigital.in), India’s premier digital media distribution company, providing satellite, digital cable, and broadband services to over 4.8 million customers across 1,500 cities and towns.

Part of the multi-billion-dollar Hinduja Group, HGS takes a “globally local” approach with ~16,710 employees across 10 countries and 23 delivery centers, supporting some of the world’s most recognized brands.

HGS. Experience Intelligence.   Learn more at https://hgs.com.

About Rackspace Technology

Rackspace Technology® (NASDAQ: RXT) is the operator of the full enterprise AI stack from governed private cloud to AI inference and agents in production. With an Outcomes-as-a-Service model built on secure infrastructure, data foundations, and forward-deployed engineering, Rackspace delivers business results for regulated and mission-critical industries where governance, sovereignty, and uptime are non-negotiable. Learn more at www.rackspace.com.

Forward-Looking Statements

This press release contains “forward-looking statements” within the meaning of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements include, but are not limited to, statements regarding the expected benefits, timing, scope and scale of the agreement between Rackspace Technology and HGS and the broader Rackspace-AMD AI Compute agreement, anticipated customer demand for AI infrastructure, and Rackspace’s business strategy and future operating results. These statements are based on current expectations and assumptions and are subject to risks and uncertainties that could cause actual results to differ materially, including those described in the “Risk Factors” section of Rackspace Technology’s most recent Annual Report on Form 10-K and subsequent Quarterly Reports on Form 10-Q filed with the SEC. Rackspace Technology undertakes no obligation to update any forward-looking statements, except as required by law.

Media Contact:
Gracie LePere
publicrelations@rackspace.com

Thanuja B M
Thanuja.Megharaj@hgs.com

Fingrid follows a six-month reporting period in compliance with the Securities Markets Act and publishes Management’s Reviews for the first three and nine months of the year; the Management’s Reviews contain key information illustrating the company’s financial and other development.

The information presented in the Management’s Review relates to Fingrid Group’s performance in January–September 2026 and the corresponding period of 2025, unless otherwise indicated. The figures presented here have been drawn up in accordance with the International Financial Reporting Standards (IFRS). The Management’s Review is not an interim report in accordance with the IAS 34 standard. The figures are unaudited.

• Electricity consumption in Finland grew 5.0 per cent in January–September and amounted to 64.8 (61.5) terawatt hours. Consumption grew especially due to the cold weather at the beginning of the year. The emission factor for the electricity consumed in Finland was 27 (27) gCO₂/kWh. The transmission reliability rate of Fingrid’s transmission system was very high.
• The incident frequency rate, including service providers and Fingrid’s own personnel, increased to 5.4 (4.5). The company has an ongoing occupational safety development programme aimed at reversing the trend in lost-time injuries. Occupational health and safety are a priority in all Fingrid’s operations.
• The turnover for January–September grew to EUR 872 (791) million due to higher electricity consumption, main grid pricing and imbalance power prices.
• The Group’s total costs, excluding the change in the fair value of commodity derivatives, amounted to EUR 765 (747) million. The company’s key operating costs, excluding the costs of procuring reserve capacity and maintenance costs, increased as a result of the expansion of the power system.
• The result for the period was EUR 170 (128) million. The company used EUR 78 (143) million of congestion income to cover operating expenses.
• The company’s gross capital expenditure totalled EUR 313 (342) million. The company estimates that its gross capital expenditure in 2026–2029 will amount to approximately EUR 2 billion, of which EUR 672 million was committed at the end of the review period.
• The company’s financial position remained strong.

	Key figures		1-9/26	1-9/25	change %	1-12/25
	Turnover	€M	872	791	10	1,118
	Operating result*	€M	178	150	19	247
	Result before taxes *	€M	164	142	15	225
	Result for the period	€M	170	128	33	179
	Net cash flow from operations	€M	508	353	44	451
	Accumulated congestion income	€M	268	247	9	349
	Capital expenditure, gross	€M	313	342	-8	485
	Interest-bearing net debt	€M	1,123	1,118	0	1,208
	EBITDA **	€M	475	355	34	386
	Average number of employees		655	620		622
	Transmission reliability rate	%	99.99988	99.99999		99.99995
	Electricity consumption in Finland	TWh	64.8	61.5		84.5
	Lost-time injuries frequency (LTIF), incl. service providers**		5.4	4.5		2.9
	Emission factor, electricity consumed in Finland	gCO2/kWh	27	27		26
	Renewable production connected to the electricity system	MW	753	1,178		1,509
	* Excluding the change in the fair value of derivatives
	** 12-month rolling sum

President & CEO Asta Sihvonen-Punkka: Growing electricity consumption requires a strong electricity grid, prioritisation of grid connections, and balancing power

Fingrid’s turnover grew 10 per cent during the reporting period and amounted to EUR 872 (791) million. Turnover increased due to higher electricity consumption, an increase in main grid tariffs at the beginning of the year and the higher price of imbalance power. The profit for the period was EUR 170 (128) million. Gross capital expenditure for the review period totalled EUR 313 (342) million. The company’s financial position remained strong.

Electricity consumption in Finland has started to grow again, and the pace of growth is expected to accelerate in the coming years. Growth is driven in particular by data centre and electric boiler projects. If all currently agreed grid connection projects are realised, Finland’s electricity consumption could increase by as much as 40 per cent from the 2025 level over the next years.

The growth in electricity consumption, and the corresponding increase in production capacity it requires, call for substantial investments in the transmission grid. Fingrid is implementing a EUR 5.2 billion investment plan to strengthen transmission connections from Northern and Western Finland towards Southern Finland. We made an investment decision for a 400-kilovolt Forest Line 2 transmission connection from Vaala to Jämsä. The approximately 350 kilometres long connection will reinforce electricity transmission between Northern and Southern Finland, enable the connection of new production capacity and growing electricity demand to the main grid, and improve the reliability of the power system.

At the same time as the clean transition has progressed and investment needs have increased, circumstancesthat may delay the progress of investment projects have also emerged. Smooth permitting processes are essential for the implementation of Fingrid’s investment programme, which in turn addresses the needs arising from increased customer demand and an evolving electricity system.

In September, the Ministry of Economic Affairs and Employment published a draft government proposal on a priority procedure for grid connections. The objective of the proposal is to allocate scarce grid connection capacity in a manner that serves the overall interests of society. Fingrid considers the procedure a necessary tool for ensuring the efficient use of the electricity network. It is hoped that, despite the complexity of the matter, the legislative proposal will enter into force soon. This would help reduce uncertainty and accelerate investments in the current situation, where grid capacity is insufficient to meet all demand.

The anticipated and already visible growth in electricity consumption further underlines the need to ensure adequacy of electricity supply. Finland has favourable conditions for increasing electricity production on a market basis through wind and solar power investments. New consumption resulting from electrification cannot always provide flexibility when needed, so consequently the electricity adequacy can be significantly compromised, especially during cold, windless periods. Fingrid estimates that by the turn of the decade, Finland will need approximately 1,000 megawatts of weather-independent production capacity. Such capacity, often referred to as balancing power, does not currently appear likely to emerge in sufficient volume or on the required timetable through market-based mechanisms alone. Finland should therefore introduce a rapid and cost-effective targeted support mechanism to safeguard electricity adequacy in both long- and short-duration electricity shortage situations. The proposed priority procedure for grid connections includes incentives for investments in flexible production capacity and may help address some of the challenges related to electricity adequacy. However, ensuring sufficient electricity supply should not be left solely to the effects of the priority procedure.

Main business events

• Fingrid made an investment decision on the 400-kilovolt Forest Line 2 transmission line connection from Vaala to Jämsä. The approximately 350-kilometre connection will strengthen electricity transmission between Northern and Southern Finland, enable the connection of new power production and growing electricity consumption to the main grid, and improve transmission reliability of the power system. The connection is scheduled to be commissioned in 2030.
• Fingrid announced that it will increase its main grid service fees by four per cent as of 1 January 2027. The increase is driven by a substantial investment programme anticipating future customer needs and the rising costs of the expanding power system.
• During the review period, Fingrid announced that it will not charge balance responsible parties the production and consumption volume fees for October and November 2026. The decision is based on lower-than-expected level of power system reserve costs and higher-than-expected level of electricity trade result.
• Fingrid signed more than 50 new connection agreements during the past 12 months. Approximately third of these agreements concerned data centres. In addition, Fingrid enabled new connections within customers’ networks.
• In its report Prospects for electricity production and consumption, published in September, Fingrid estimated that growth in Finland’s electricity consumption is gathering pace. While its view of the magnitude of long-term electricity demand growth has remained broadly unchanged, progress in particular on data centre projects has strengthened expectations that the growth will materialise. Increasing electricity consumption highlights the need for additional domestic electricity production as well as more weather-independent balancing power.
• During January-September, 753 (1,178) megawatts of new renewable electricity production capacity were connected to Finland’s electricity system, of which 191 (802) megawatts came from wind power and 562 (376) megawatts from solar power.
• In September, Fingrid announced new requirements for wind and solar power plants located in areas with a high concentration of wind and solar power production. The requirements concern grid-stabilising control capabilities that enable these plants to be connected to the grid without compromising the reliability of the power system.
• Fingrid published its assessment of the adequacy of electricity supply in Finland for winter 2026–2027. According to the assessment, the adequacy of electricity supply appears stable for the coming winter, provided that major failures at production facilities are avoided and the transmission lines from Sweden and Estonia operate normally.
• The facilities participating in the Olkiluoto 3 system protection scheme were selected for the period 1 January 2027 to 31 March 2028. The Olkiluoto 3 system protection scheme is a technical arrangement which allows the Olkiluoto 3 power plant to generate power in excess of the electricity system’s maximum limit of 1,300 megawatts.
• In September, Fingrid announced that it will not acquire frequency containment reserves (FCR) from the yearly market for 2027. Next year, domestic FCR procurement will only be carried out from the hourly market. By concentrating FCR procurement on the hourly market, Fingrid aims to respond to customer feedback, simplify the market model for reserve suppliers and aim to improve the availability of reserves in the hourly market.
• The Nordic transmission system operators have decided to postpone their joint connection to the European mFRR energy activation platform, MARI. The most likely new go-live date is considered to be September-October 2027.

Legal proceedings and proceedings by authorities

On 29 January 2024, Fingrid appealed to the Market Court against the Energy Authority’s decision on the regulatory methods concerning the specification of the profit for the electricity transmission grid operations for the sixth (1 Jan 2024–31 Dec 2027) and seventh (1 Jan 2028–31 Dec 2031) regulatory periods. In its decision, the Market Court dismissed Fingrid’s appeal on 21 November 2025. Fingrid filed an appeal with the Supreme Administrative Court on 23 December 2025 against the Market Court’s decision, as the current regulatory methods undermine the company’s ability to develop the main grid, implement the contingency measures required by the deteriorated security situation and ensure a reasonable return in accordance with the Electricity Market Act in a rapidly changing energy system. In Fingrid’s assessment, the regulatory methods decided by the Energy Authority represent a significant deterioration of the regulatory methods that ended at the end of 2023.

On 12 September 2025, the Market Court issued its decision on the appeals filed by Fingrid and Teollisuuden Voima Oyj against the Energy Authority’s decision of 11 January 2024 concerning the scope of the national transmission system operator’s system responsibility regarding the grid connection of the Olkiluoto 3 nuclear power plant. The Market Court ruled mainly in favour of Fingrid’s appeal. The Market Court stated that Fingrid itself was not required to carry out all the actions necessary for the creation and operation of the Olkiluoto 3 protection scheme and, in support of Fingrid’s position, that the protection scheme could be agreed on separately. According to the Market Court, Fingrid had the right to set protection-related terms and conditions for connecting to the main grid, without being fully responsible for fulfilling those terms and conditions through its own actions or costs. The Market Court also concluded that Fingrid had not violated the development, connection or transmission obligations under the Electricity Market Act. However, the Market Court found that Fingrid should have had the terms and conditions of the Olkiluoto 3 protection scheme fees approved by the Energy Authority. On 27 October 2025, Fingrid appealed to the Supreme Administrative Court against the Market Court’s decision, since, according to Fingrid’s position, the implementation and maintenance responsibility for Olkiluoto 3 protection scheme, including its costs, are in no way part of Fingrid’s system responsibility, and the terms and conditions of the Olkiluoto 3 protection scheme or the basis for determining fees do not need to be submitted to the Energy Authority for approval. In an interim ruling issued on 1 June 2026, the Supreme Administrative Court suspended the enforcement of the Market Court’s decision of 12 September 2025. At the same time, the Supreme Administrative Court ruled that the Energy Authority’s decision issued on 11 January 2024 must be complied with instead, while the matter is pending before the Supreme Administrative Court.

In accordance with the Energy Authority’s decision, Fingrid submitted its proposal concerning the determination principles for fees related to the Olkiluoto 3 protection scheme on 30 April 2024. The Energy Authority issued its decision on the determination principles for fees on 30 December 2024. According to the decision, TVO shall bear the costs for reimbursements to response resources connected to the Olkiluoto 3 protection scheme and for the construction, maintenance and use of data communication connections. The decision states that Fingrid shall bear the costs for acquiring the response resources and awarding contracts, managing the Olkiluoto 3 protection scheme and the tests to be carried out on the response resources for the protection scheme, as well as for the maintenance of the measurement and monitoring system for the protection scheme in Fingrid’s operation control system. Fingrid and TVO have agreed on fee arrangements for Olkiluoto 3 protection scheme as of 1 January 2025. The agreement is based on the decision issued by the Energy Authority on the costs for the Olkiluoto 3 protection scheme on 30 December 2024. Fingrid and TVO appealed the decision to the Market Court, which overturned the Energy Authority’s decision and referred the matter regarding the determination of the fees for Olkiluoto 3 protection scheme back to the Energy Authority in its decision issued on 7 November 2025. On 10 December 2025, Fingrid appealed with the Supreme Administrative Court against the Market Court’s decision. In an interim ruling issued on 1 June 2026, the Supreme Administrative Court suspended the enforcement of the Market Court’s decision of 7 November 2025. At the same time, the Supreme Administrative Court ruled that the Energy Authority’s decision issued on 30 December 2024 must be complied with instead, while the matter is pending before the Supreme Administrative Court.

On 2 January 2026, Fingrid appealed to the Market Court against the Energy Authority’s decision, which stated that there are insufficient long-term hedging opportunities in the Finnish bidding area. The Energy Authority’s decision on the insufficiency of hedging opportunities was based solely on trading in electricity derivatives exchanges in recent years and did not take into account trading outside of electricity derivatives exchanges. Fingrid has demanded that the Energy Authority’s decision be overturned and that the matter be referred back to the Energy Authority for reprocessing. Fingrid also demanded a stay of enforcement for the decision until the appeal related to the decision becomes final. On 23 February 2026, the Market Court rejected Fingrid’s request for a temporary stay of enforcement of the Energy Authority’s decision.

Other events during the review period

On 23 July 2026, the Board of Directors decided, in compliance with the authorisation granted by the AGM, that the second instalment of dividends shall be paid after the half-year report has been approved and the Board has assessed the company’s solvency, financial position and financial performance. Based on the authorisation received by the Board, the second dividend instalment of EUR 18,088.71 for each Series A share and EUR 6,617.11 for each Series B share, totalling EUR 45,841,984.12 in dividends, was paid on 28 July 2026.

Outlook for the rest of the year

Fingrid repeats its earnings guidance from 3 March 2026: Fingrid Group’s operating profit for the 2026 financial period, excluding changes in the fair value of derivatives, is expected to increase clearly compared to 2025.

Events after the review period

Fingrid Oyj’s Shareholders have on 5 October 2026 unanimously decided to elect Hannu Hautala as a member of the Board of Directors. Hannu Hautala, M. Sc. (Engineering), Finnish citizen, has acted as a CEO at Luxmet Oy since September 2026. Hannu Hautala is independent from the company and its significant shareholders.

Financial information

	CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME	1 Jan – 30 Sept, 2026	1 Jan – 30 Sept, 2025	1 Jan – 31 Dec, 2025
		MEUR	MEUR	MEUR
	TURNOVER	872.1	791.2	1,118.5
	Other operating income	141.3	121.9	153.3
	Materials and services	-573.5	-568.1	-775.0
	Personnel expenses	-40.1	-37.5	-52.5
	Depreciation and amortisation	-108.2	-100.8	-137.6
	Other operating expenses	-44.0	-40.7	-58.1
	OPERATING RESULT	247.7	166.1	248.7
	Finance income	8.1	15.7	19.5
	Finance costs	-43.6	-22.7	-45.3
	Finance income and costs	-35.5	-7.0	-25.9
	Share of profit of associated companies	0.8	0.7	0.5
	RESULT BEFORE TAXES	213.0	159.8	223.3
	Income taxes	-42.6	-31.8	-44.3
	RESULT FOR THE PERIOD	170.4	128.0	179.0
	OTHER COMPREHENSIVE INCOME
	Items that may subsequently be transferred to profit or loss
	Transferred to the profit for the period	-0.0	-0.0	-0.0
	TOTAL COMPREHENSIVE INCOME FOR THE PERIOD	170.4	128.0	178.9
	Profit attributable to:
	Equity holders of parent company	170.4	128.0	179.0
	Total comprehensive income attributable to:
	Equity holders of parent company	170.4	128.0	178.9

	CONSOLIDATED BALANCE SHEET
	ASSETS	30 Sept 2026	30 Sept 2025	31 Dec 2025
		MEUR	MEUR	MEUR
	NON-CURRENT ASSETS
	Intangible assets:
	Goodwill	87.9	87.9	87.9
	Land use rights	105.7	104.5	105.5
	Other intangible assets	43.5	48.9	51.2
		237.1	241.4	244.6
	Property, plant and equipment:
	Land and water areas	26.8	26.5	26.9
	Buildings and structures	457.4	404.5	466.3
	Machinery and equipment	805.0	698.3	815.5
	Transmission lines	690.8	695.0	731.5
	Other property, plant and equipment	0.1	0.1	0.1
	Right-of-use-assets	52.7	56.0	55.0
	Prepayments and purchases in progress	699.8	753.1	456.5
		2,732.6	2,633.6	2,551.8
	Investments in associated companies	15.0	14.4	14.2
	Other long-term investments	–	73.9	–
	Other long-term receivables	0.5	0.2	0.3
	Derivative instruments	51.2	13.8	5.9
	Deferred tax assets	109.1	66.6	99.2
	TOTAL NON-CURRENT ASSETS	3,145.5	3,043.8	2,916.1
	CURRENT ASSETS
	Inventories	26.4	21.7	22.5
	Derivative instruments	37.6	6.3	2.7
	Trade receivables and other receivables	76.5	103.9	142.9
	Other financial assets	71.5	139.0	70.4
	Cash in hand and cash equivalents	372.7	238.9	539.1
	TOTAL CURRENT ASSETS	584.7	509.8	777.7
	TOTAL ASSETS	3,730.2	3,553.6	3,693.8

	CONSOLIDATED BALANCE SHEET
	EQUITY AND LIABILITIES	30 Sept 2026	30 Sept 2025	31 Dec 2025
		MEUR	MEUR	MEUR
	EQUITY ATTRIBUTABLE TO EQUITY HOLDERS OF THE PARENT COMPANY
	Share capital	55.9	55.9	55.9
	Share premium account	55.9	55.9	55.9
	Translation reserve	-0.1	-0.0	-0.0
	Retained earnings	564.3	480.8	531.8
	TOTAL EQUITY	676.1	592.7	643.6
	NON-CURRENT LIABILITIES
	Deferred tax liabilities	148.6	132.8	130.3
	Borrowings	1,443.0	1,468.7	1,461.1
	Provisions	3.0	2.9	3.0
	Derivative instruments	38.6	10.3	16.9
	Lease liabilities	50.8	54.2	53.3
	Accruals	881.2	700.4	623.1
		2,565.2	2,369.2	2,287.7
	CURRENT LIABILITIES
	Borrowings	69.4	43.0	299.4
	Derivative instruments	9.1	1.2	7.1
	Lease liabilities	4.0	3.5	3.5
	Trade payables and other liabilities	406.3	544.1	452.5
		488.9	591.8	762.5
	TOTAL LIABILITIES	3,054.1	2,961.0	3,050.2
	TOTAL EQUITY AND LIABILITIES	3,730.2	3,553.6	3,693.8

	CONSOLIDATED STATEMENT OF CHANGES IN TOTAL EQUITY, MEUR
	Equity attributable to shareholders	Share	Share	Translation	Retained	Total
	of the parent company	capital	premium account	reserve	earnings	equity
	Balance on 1 January 2025	55.9	55.9	-0.0	488.1	599.9
	Comprehensive income for the review period
	Profit or loss				128.0	128.0
	Other comprehensive income
	Translation reserve			-0.0		-0.0
	Total other comprehensive income adjusted by tax effects			-0.0		-0.0
	Total comprehensive income			-0.0	128.0	128.0
	Transactions with owners
	Dividend relating to 2024				-135.3	-135.3
	Balance on 30 September 2025	55.9	55.9	-0.0	480.8	592.7
	Comprehensive income for the review period
	Profit or loss				50.9	50.9
	Other comprehensive income
	Translation reserve			-0.0		-0.0
	Total other comprehensive income adjusted by tax effects			-0.0		-0.0
	Total comprehensive income			-0.0	50.9	50.9
	Transactions with owners
	Balance on 31 December 2025	55.9	55.9	-0.0	531.8	643.6
	Balance on 1 January 2026	55.9	55.9	-0.0	531.8	643.6
	Comprehensive income for the review period
	Profit or loss				170.4	170.4
	Other comprehensive income
	Translation reserve			-0.0		-0.0
	Total other comprehensive income adjusted by tax effects			-0.0		-0.0
	Total comprehensive income			-0.0	170.4	170.4
	Transactions with owners
	Dividend relating to 2025				-137.9	-137.9
	Balance on 30 September 2026	55.9	55.9	-0.1	564.3	676.1

	CONSOLIDATED CASH FLOW STATEMENT	1 Jan – 30 Sept, 2026	1 Jan – 30 Sept, 2025	1 Jan – 31 Dec, 2025
		MEUR	MEUR	MEUR
	Cash flow from operating activities:
	Result before taxes	213.0	159.8	223.3
	Adjustments:
	Business transactions not involving a payment transaction:
	Depreciation and amortisation	108.2	100.8	137.6
	Capital gains/losses (-/+) on tangible and intangible assets	1.5	-0.6	-0.4
	Other adjustments	0.0	–	–
	Share of profit of associated companies	-0.8	-0.7	-0.5
	Gains/losses from the assets and liabilities recognised in the income statement at fair value	-69.8	-16.1	-2.1
	Connection agreements	33.7	9.7	33.8
	Recognition of congestion income	-77.6	-142.7	-223.2
	Finance income and costs	35.5	7.0	25.9
	Changes in working capital:
	Change in trade receivables and other receivables	66.6	23.0	1.3
	Change in inventories	-3.9	-1.2	-2.0
	Change in trade payables and other liabilities	-19.9	3.8	-5.6
	Congestion income	267.6	246.6	349.3
	Change in provisions	–	–	-0.2
	Interests paid	-31.6	-35.7	-64.3
	Interests received	18.4	21.0	42.1
	Taxes paid	-32.7	-22.1	-63.9
	Net cash flow from operating activities	508.3	352.6	451.1
	Cash flow from investing activities:
	Purchase of property, plant and equipment	-263.2	-278.8	-464.2
	Purchase of intangible assets	-6.5	-6.1	-9.9
	Purchase of other assets	–	-42.1	-60.5
	Proceeds from sale of other assets	–	58.4	213.1
	Proceeds from sale of property, plant and equipment	0.1	1.2	1.8
	Proceeds from sale of intangible assets	0.0	0.1	0.3
	Capitalised interest paid	-11.9	-17.2	-11.9
	Net cash flow from investing activities	-281.6	-284.6	-331.4
	Cash flow from financing activities:
	Payments of non-current financing (liabilities)	-23.6	-109.6	-129.1
	Proceeds from current financing (liabilities)	39.7	–	268.8
	Payments from current financing (liabilities)	-268.8	-193.0	-193.0
	Dividends paid	-137.9	-135.3	-135.3
	Principal elements of lease payments	-2.6	-2.4	-3.4
	Net cash flow from financing activities	-393.2	-440.4	-191.9
	Change in cash as per the cash flow statement	-166.4	-372.4	-72.2
	Opening cash as per the cash flow statement	539.1	611.3	611.3
	Closing cash as per the cash flow statement	372.7	238.9	539.1

Notes

1. Operating segments

The segment information is FAS-compliant, and it is reconciled with the IFRS consolidated financial statements. The segments’ results are assessed on the basis of the operating result. The segments’ combined operating results constitute grid operations’ operating result, which serves as the basis for the calculation of the actual adjusted result compatible with regulation. Costs are allocated to the segments in accordance with the matching principle, which creates a basis for pricing the services. Finance income and costs are not allocated to the segments.

Variations between the segments’ results and turnover are typical. The segments form the basis for the calculation of Fingrid’s adjusted result compatible with the reasonable return regulation, and thus the results development of one segment can also affect the other segment over time to avoid exceeding the allowed regulatory profit set for the operations. The segments’ service prices are adjusted to correspond to costs over time.

Main grid segment

The main grid segment includes development & maintenance of the main grid, the connection of new production and consumption to the network, electricity transmission, grid operation and the development of unified electricity markets and reserves related to maintaining the electricity system.

MAIN GRID SEGMENT, MEUR	1-9/2026	1-9/2025	1-12/2025
Turnover	489.3	435.0	654.3
Profit before taxes	170.1	126.9	236.5

Balance services segment

The balance services segment includes activities related to national balance management and imbalance settlement. In addition, development of the reserve markets related to balance management is included in the balance services segment.

BALANCE SERVICES SEGMENT, MEUR	1-9/2026	1-9/2025	1-12/2025
Turnover	420.3	371.6	505.6
Profit before taxes	37.0	27.2	36.8

Result by business segment

The segment information is FAS-compliant, and the column “eliminations and consolidation entries” includes items that reconcile the segment reporting with the IFRS consolidated financial statements.

	1-9/2026
	MEUR
	Business segment	Main grid	Balance services	Other activities	Eliminations and consolidation entries	Group, total
	Turnover	489.3	420.3	17.6	-55.1	872.1
	Depreciation	-100.9	-0.9	-4.7	-1.6	-108.2
	Operating profit	170.1	37.0	3.1	37.5	247.7
	Finance income and costs					-35.5
	Profit before taxes					213.0
	1-9/2025
	MEUR
	Business segment	Main grid	Balance services	Other activities	Eliminations and consolidation entries	Group, total
	Turnover	435.0	371.6	18.1	-33.4	791.2
	Depreciation	-94.2	-0.9	-4.6	-1.1	-100.8
	Operating profit	126.9	27.2	3.9	8.1	166.1
	Finance income and costs					-7.0
	Profit before taxes					159.8
	1-12/2025
	MEUR
	Business segment	Main grid	Balance services	Other activities	Eliminations and consolidation entries	Group, total
	Turnover	654.3	505.6	24.0	-65.3	1,118.5
	Depreciation	-128.9	-1.2	-6.1	-1.4	-137.6
	Operating profit	236.5	36.8	4.7	-29.3	248.7
	Finance income and costs					-25.9
	Profit before taxes					223.3

Other activities include Fingrid’s other statutory public service obligations that are not part of actual transmission network operations or transmission system responsibility. These tasks include centralised information exchange services for the electricity market as well as peak load capacity services and guarantee-of-origin services for electricity, which are provided by the Group companies Fingrid Datahub Oy and Finextra Oy. Other activities also include the parent company’s administrative and ICT services for subsidiaries. Income and expense items between the parent company and subsidiaries are eliminated in the Group reporting. IFRS items include among other things, changes in the market value of electricity derivatives, recognition of connection fees over time according to IFRS 15, and recognition of leases over time according to IFRS 16.

2. Income and costs

	Turnover and other income, MEUR	1-9/26	1-9/25	change %	1-12/25
	Grid service income	372.2	326.5	14.0	455.0
	Balancing power sales	413.3	364.0	13.6	495.8
	ITC income	10.7	9.4	13.3	14.0
	Congestion income	10.8	40.0	-73.0	81.9
	Datahub income	17.2	17.1	0.7	22.8
	Other turnover	47.9	34.2	40.0	49.0
	Gains from measuring derivatives at fair value	70.1	15.9	–	1.5
	Other operating income	71.2*	106.0	-32.8	151.9
	Turnover and other income total	1,013.4	913.1	11.0	1,271.8
	* Includes allocation of EUR 66.8 million of congestion income to cover operational costs

	Costs, MEUR	1-9/26	1-9/25	change %	1-12/25
	Purchase of balancing power	322.0	185.4	73.6	282.1
	Loss power costs	74.1	59.4	24.7	83.7
	Depreciation and amortisation	108.2	100.8	7.3	137.6
	Cost of reserves	45.0	165.5	-72.8	189.2
	Personnel costs	40.1	37.5	6.9	52.5
	Maintenance costs	16.7	38.5	-56.5	47.3
	ITC charges	10.5	10.5	0.7	12.5
	Financial transmission right (FTR) costs	45.2	60.7	-25.6	91.4
	Other costs	103.6	88.9	16.6	127.6
	Gains/losses from measuring derivatives at fair value	0.3	-0.1	-294.8	-0.6
	Costs total	765.7	747.1	2.5	1,023.1
	Operating result, excl. the change in the fair value of derivatives	177.9	150.0	18.6	246.6
	Operating result	247.7	166.1	49.2	248.7

3. Changes in property, plant and equipment, and intangible assets

	Property, plant and equipment, MEUR	1-9/2026	1-9/2025	1-12/2025
	Cost at 1 Jan	4,410.9	4,151.5	4,151.5
	Increases 1 Jan–30 Sept	281.3	334.9	287.9
	Decreases 1 Jan–30 Sept	-30.3	-2.9	-28.4
	Cost at 30 Sept	4,661.9	4,483.4	4,410.9
	Accumulated depreciation 1 Jan	-1,914.1	-1,819.6	-1,819.6
	Decreases, depreciation 1 Jan–30 Sept	28.7	2.4	27.0
	Depreciation 1 Jan–30 Sept	-96.6	-88.7	-121.5
	Accumulated depreciation 30 Sept	-1,982.0	-1,905.9	-1,914.1
	Right-of-use-assets
	Carrying amount 1 Jan	55.0	50.2	50.2
	Increases 1 Jan–30 Sept	0.6	8.8	8.8
	Depreciation 1 Jan–30 Sept	-3.0	-2.9	-3.9
	Right-of-use-assets, carrying amount 30 Sept	52.7	56.0	55.0
	Carrying amount 30 Sept	2,732.6	2,633.6	2,551.8
	Intangible assets, MEUR
	Cost at 1 Jan	328.3	326.2	326.2
	Increases 1 Jan–30 Sept	1.3	1.4	7.8
	Decreases 1 Jan–30 Sept	-0.4	-0.4	-5.7
	Cost at 30 Sept	329.2	327.2	328.3
	Accumulated depreciation 1 Jan	-83.6	-76.7	-76.7
	Decreases, depreciation 1 Jan–30 Sept	0.0	0.0	5.1
	Depreciation 1 Jan–30 Sept	-8.6	-9.2	-12.1
	Accumulated depreciation 30 Sept	-92.2	-85.8	-83.6
	Carrying amount 30 Sept	237.1	241.4	244.6

4. Gross capital expenditure

	GROSS CAPITAL EXPENDITURE, MEUR	1-9/2026	1-9/2025	1-12/2025
	Increases to tangible and intangible assets and transfers from prepayments and purchases in progress to other tangible and intangible assets*	282.6	336.3	295.7
	Allocation of congestion income	28.5	5.8	170.4
	Allocation of investment subsidies	2.3	–	19.1
	Gross capital expenditure	313.4	342.0	485.1
	Investment commitments	672.2	604.3	604.1
	*Excluding right-of-use assets

Further information:

Asta Sihvonen-Punkka, President & CEO, Fingrid Oyj, +358 30 395 5235
Jussi Pohjanpalo, Chief Financial Officer, Fingrid Oyj, +358 30 395 5176

Fingrid is Finland’s transmission system operator. We secure reliable electricity for our customers and society and build the power system of the future. Our vision is clean, secure and the most competitive electricity system in Europe. 

Fingrid delivers. Responsibly.
www.fingrid.fi

Attachment

• Fingrid Group – Management’s Review Q3 2026

• Company may continue listing, subject to transferring its listing to The Nasdaq Capital Market
• Decision follows completion of Envoy Technologies acquisition and confirmation of compliance with Nasdaq’s shareholders’ equity requirement.

LAS VEGAS, NV, Oct. 29, 2026 (GLOBE NEWSWIRE) — CID HoldCo, Inc. (Nasdaq: DAIC) (the “Company” or “Dot Ai”) today announced that the Nasdaq Hearings Panel (the “Panel”) has granted the Company’s request for continued listing on The Nasdaq Stock Market (“Nasdaq”), subject to certain conditions. The decision follows the Company’s acquisition of Envoy Technologies, Inc. and Nasdaq’s confirmation that the Company has regained compliance with the applicable shareholders’ equity requirement.

The Panel’s decision follows the Company’s completion of key compliance milestones, including the filing of its Quarterly Report on Form 10-Q for the quarter ended June 30, 2026. Under the terms of the decision, the Company is required to submit an application to transfer the listing of its securities to the Nasdaq Capital Market on or before November 2, 2026.

“We appreciate the Panel’s decision and are pleased with the progress we’ve made toward meeting Nasdaq’s continued listing requirements,” said Edmund Nabrotzky, Chief Executive Officer of Dot Ai. “With Envoy now part of Dot Ai, our focus is on advancing the integration of our businesses, expanding our technology capabilities, and building on the opportunities this combination creates.”

The Company’s continued listing on Nasdaq remains subject to the terms of the Panel’s decision, including the requirement to submit an application to transfer its securities to the Nasdaq Capital Market by November 2, 2026.

About Dot Ai (CID HoldCo, Inc.)

Dot Ai (Nasdaq: DAIC) is an ambient IoT and asset-intelligence company. Its Industrial Bridge reader and patent-pending on-metal and wet-environment antenna technology make battery-free ambient tags readable in industrial and outdoor conditions, and its U.S. Patent No. 11,017,189 covers the vehicle-as-reader architecture in which a moving reader dynamically tracks moving beacons. Dot Ai serves an industrial partner ecosystem. For more information, visit https://daic.ai.

Forward-Looking Statements

This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements include all statements that are not historical facts, including statements regarding the anticipated benefits of the acquisition of Envoy, including, for example, the expected expansion of the Company’s intention to comply with the Hearing Panel’s condition to transfer its listing to The Nasdaq Capital Market; and the Company’s ability to maintain compliance with applicable Nasdaq listing requirements. All forward-looking statements are based on Dot Ai’s current expectations and beliefs concerning future developments and their potential effects on the Company. Forward-looking statements are subject to risks and uncertainties — including the risk that required stockholder, Nasdaq, or regulatory approvals may not be obtained, that the Company may be unable to regain or maintain compliance with applicable Nasdaq listing requirements — that could cause actual results to differ materially from those expressed in the forward-looking statements. Readers are cautioned not to put undue reliance on forward-looking statements, and Dot Ai assumes no obligation to update or revise these forward-looking statements, whether as a result of new information, future events, or otherwise, except as required by law.

Important Information for Stockholders

In connection with the proposed transactions, the Company intends to file a proxy statement with the SEC. The Company also plans to file other documents with the SEC regarding the proposed transactions. After the proxy statement has been cleared by the SEC, a definitive proxy statement will be filed with the SEC and mailed to the stockholders of record of the Company. The Board will set the record date prior to mailing the definitive proxy statement. STOCKHOLDERS OF THE COMPANY ARE URGED TO CAREFULLY READ THE PROXY STATEMENT (INCLUDING ALL AMENDMENTS AND SUPPLEMENTS THERETO) AND OTHER DOCUMENTS RELATING TO THE PROPOSED TRANSACTIONS THAT WILL BE FILED WITH THE SEC IN THEIR ENTIRETY WHEN THEY BECOME AVAILABLE BECAUSE THEY WILL CONTAIN IMPORTANT INFORMATION ABOUT THE PROPOSED TRANSACTIONS. Stockholders will be able to obtain free copies of the proxy statement and other documents containing important information about the Company once such documents are filed with the SEC, through the website maintained by the SEC at http://www.sec.gov.

Participants in the Solicitation

The Company and its executive officers, directors, other members of management and employees may be deemed, under SEC rules, to be participants in the solicitation of proxies from the Company’s stockholders with respect to the proposed transactions. Information regarding the executive officers and directors of the Company is set forth in the Company’s definitive proxy statement for the Company’s 2026 annual meeting of stockholders filed with the SEC on April 17, 2026 and in the Company’s Annual Report on Form 10-K for the fiscal year ended December 31, 2025 filed with the SEC on March 11, 2026. More detailed information regarding the identity of potential participants, and their direct or indirect interests, by securities holdings or otherwise, will be set forth in the proxy statement and other materials to be filed with the SEC in connection with the transactions contemplated by the Purchase Agreement.

No Offer or Solicitation

This press release is not a proxy statement or solicitation of a proxy, consent or authorization with respect to any securities or in respect of the proposed transactions and shall not constitute an offer to sell or a solicitation of an offer to buy any securities, nor shall there be any sale of securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of such state or jurisdiction. No offer of securities shall be made except by means of a prospectus meeting the requirements of the Securities Act.

Media Contact

Eva Fattahi
PR and Business Development, Envoy Technologies
press@envoythere.com  | 347-839-0993

Investor Contact

Charles Maddox, Chief Financial Officer, Dot Ai
Investors@daic.ai 

MCLEAN, Va., Oct. 29, 2026 (GLOBE NEWSWIRE) — Freddie Mac (OTCQB: FMCC) today reported its Third Quarter 2026 financial results and filed its Quarterly Report on Form 10-Q with the U.S. Securities and Exchange Commission. The company’s Form 10-Q and earnings press release, along with the Third Quarter 2026 financial supplement and earnings presentation, are available now on the Investor Relations page of the company’s website.

The company will hold a webcast at 9 a.m. Eastern Time (ET) today, October 29, 2026, to publicly share its results with the media. A replay will be available on the company’s website for approximately 30 days.

Freddie Mac’s mission is to make home possible for families across the nation. We promote liquidity, stability and affordability in the housing market throughout all economic cycles. Since 1970, we have helped tens of millions of families buy, rent or keep their home. Learn More: Website | Consumers | X | LinkedIn | Facebook | Instagram | YouTube

MEDIA CONTACT: Frederick Solomon
703-903-3861
Frederick_Solomon@FreddieMac.com

INVESTOR CONTACT: Mahesh Lal
571-382-3630