Month: October 2026

SKOKIE, Ill., Oct. 29, 2026 (GLOBE NEWSWIRE) — LanzaTech Global, Inc. (NASDAQ: LNZA) (“LanzaTech” or the “Company”), a carbon management solutions company, today announced that it will issue its third quarter 2026 financial results before financial markets in the United States open on Monday, November 16, 2026. A conference call will be held that same day at 8:30 a.m. Eastern Time.

The conference call may be accessed via a live webcast on a listen-only basis through the Events & Presentations section of LanzaTech’s Investor Relations website, ir.lanzatech.com. An archive of the webcast will be available for twelve months.

To attend the live conference call via telephone, domestic callers can access by dialing 1-833-419-0865 and international callers by dialing 1-785-838-9333 using the conference identification code LANZA.

A replay of the conference call will be available shortly after the call ends and can be accessed by domestic callers by dialing 1-844-512-2921 and by international callers by dialing 1-412-317-6671 and entering the access identification code 11162824. The replay will be available until 11:59 p.m. Eastern Time on November 30, 2026.

About LanzaTech

LanzaTech (NASDAQ: LNZA) is a leader in carbon management, using its proprietary gas-fermentation platform to transform waste carbon into valuable products. Through global partnerships, LanzaTech enables the production of feedstocks for high-value markets including SAF and chemicals. Headquartered in the U.S., the company provides technology and commercial pathways that strengthen industrial resilience and unlock new economic value from carbon.

Investor Relations Contact:
LNZA@alpha-ir.com

Public Relations/Media Contact:
Freya Burton
freya@lanzatech.com

LAS VEGAS, Oct. 29, 2026 (GLOBE NEWSWIRE) — TRANSUITE.ORG INC. (OTCQB: TRSO) (“TRSO” or the “Company”) is advancing commercialization of AI and digital-payment applications across payment transactions, enterprise technology services and intelligent terminals to unlock long-term earning potential. SolanAI Global Limited, the Company’s controlled subsidiary, executes the digital-payment strategy. Its AI and IoT initiatives include cloud operations, data management and enterprise applications to enhance service capabilities and delivery efficiency.

On September 2, 2026, TRSO signed a Letter of Intent to acquire a 51% equity interest in Zhongke Haichuang (Fujian) Technology Co., Ltd. (“ZKHC”). The Company plans to complete the acquisition by the end of 2026. As a core independent software and comprehensive value-added service provider for Douyin Pay, ZKHC maintains proprietary technology and a national service team, offering AI‑SaaS platforms, merchant management, intelligent marketing, aggregated collection and cross-border payment solutions. SolanAI will carry out phased technology integration and rollout.

Expanding paid customers on shared platforms may dilute fixed R&D and operating costs, while AI automation reduces routine service expenses. Subject to successful closing of the acquisition, ZKHC plans to open direct operation centers in more than 20 provinces and cities in China, gradually build several thousand franchise marketing teams and target coverage of millions of merchants. ZKHC has set non-binding 2026 internal targets for SolanAI of approximately $60 million in revenue and $10 million in net profit. These internal planning targets are not earnings guidance, financial guarantees or audited projections, and the Company cannot guarantee they will be achieved.

For the six months ending June 30, 2026, SolanAI generated no revenue and reported a segment loss of $257,497. Meeting these targets requires large-scale expansion; first-half results do not guarantee success. If products launch smoothly, merchants expand steadily and payment activity normalizes, the business may generate new earnings for TRSO.

TRANSUITE.ORG INC. is a Nevada technology holding company listed under ticker TRSO. Near-term focus includes Electric two-wheeler charging infrastructure; longer-term priorities cover AI, digital payments and Web3.

Forward-Looking Statements: Commercialization and operating targets are forward-looking, subject to financing, execution, customer adoption, cost and regulatory risks detailed in the Company’s SEC filings. Actual results may differ materially. The Company does not reaffirm prior targets and assumes no obligation to update these statements.

Investor Contact: ir@transuite.org | +1 (775) 295-4295 | www.transuite.org

Industrial edge networking stack enables real-time communications for AI automation, robotics and Industry 4.0 applications

CHANDLER, Ariz., Oct. 29, 2026 (GLOBE NEWSWIRE) — As industrial systems evolve to support AI-enabled automation, robotics and intelligent edge computing, developers need to deliver deterministic, real-time networking while minimizing power consumption, maintaining security and reducing system complexity. To address these challenges, Microchip Technology (Nasdaq: MCHP) has expanded its industrial edge networking solution stack with EtherCAT^® and Time-Sensitive Networking (TSN) capabilities on PolarFire^® devices. Beckhoff^® Automation GmbH EtherCAT IP is compatible with both PolarFire^® FPGA and SoC devices and Microchip TSN IP is supported on PolarFire FPGA SoCs. These enhancements expand Microchip’s growing portfolio of FPGA solution stacks which combine hardware, IP, development tools and reference designs to accelerate development across industrial networking, AI, machine learning and security-focused applications.

“Industrial networks are becoming more intelligent, distributed and data driven as AI moves closer to the edge,” said Shakeel Peera, vice president of Microchip’s FPGA business unit. “By adding EtherCAT and TSN capabilities to our power-efficient PolarFire platform, we’re providing developers with the deterministic networking technologies needed to build highly responsive, scalable systems for industrial and embedded networking applications.”

Beckhoff EtherCAT IP supports EtherCAT connectivity at 10/100/1000 Mbps and Microchip’s TSN solution enables deterministic 1 Gbps Ethernet using IEEE 802.1 Time-Sensitive Networking standards. Together, these technologies help developers build scalable industrial networks with predictable communication performance and interoperability across connected devices.

Built on power-efficient PolarFire FPGAs and SoCs, the industrial edge networking solution stack delivers real-time processing with high reliability and energy efficiency. PolarFire devices feature a secure, non-volatile architecture that enables instant-on operation and supports integrated security features such as secure boot and anti-tamper protection. The flexible FPGA fabric enables EtherCAT and TSN integration while supporting scalable customization for evolving industrial network architectures.

Target applications include motion control, industrial robotics, embedded vision, factory automation, autonomous mobile robots, automotive systems, smart infrastructure and aerospace and defense platforms. PolarFire FPGA and SoC industrial networking solutions are supported by Microchip’s Libero^® SoC design suite, IP cores and reference designs, as well as the Dual-Port Gigabit Ethernet FMC card (ETH-DC-DUALGBE) and PolarFire^® SoC Video Kit (MPFS250-VIDEO-KIT) for rapid evaluation and prototyping. Visit the website to learn more about Microchip’s full portfolio of FPGA devices.

Resources
High-res images available through Flickr or editorial contact (feel free to publish):

• Application image: https://www.flickr.com/gp/microchiptechnology/76v8P3CuKo

About Microchip Technology:
Microchip Technology Inc. is a broadline supplier of semiconductors committed to making innovative design easier through total system solutions that address critical challenges at the intersection of emerging technologies and durable end markets. Its easy-to-use development tools and comprehensive product portfolio supports customers throughout the design process, from concept to completion. Headquartered in Chandler, Arizona, Microchip offers outstanding technical support and delivers solutions across the industrial, automotive, consumer, aerospace and defense, communications and computing markets. For more information, visit the Microchip website at www.microchip.com.

Note: The Microchip name and logo, the Microchip logo, Libero and PolarFire are registered trademarks of Microchip Technology Incorporated in the U.S.A. and other countries. All other trademarks mentioned herein are the property of their respective companies.

Editorial Contact:
Amber Liptai
480-792-5047
amber.liptai@microchip.com

CHICAGO, Oct. 29, 2026 (GLOBE NEWSWIRE) — CCC Intelligent Solutions Holdings Inc. (“CCC” or the “Company”) (NASDAQ: CCC), a leading SaaS and AI platform provider for the multi-trillion-dollar insurance economy, today announced its financial results for the three months ended September 30, 2026.

“CCC delivered strong third quarter results, with revenue growth of 10% and adjusted EBITDA margin of approximately 44%. Our performance reflects the durability of our business, the trust customers place in us, and the increasing role our platform plays in helping participants across the insurance economy operate more efficiently and achieve better outcomes,” said Githesh Ramamurthy, Chairman & CEO of CCC.

“The pending transaction with GTCR and Elliott marks an exciting next chapter for CCC and our customers,” continued Ramamurthy. “Together, we expect to accelerate the AI and agentic capabilities our customers want from us, expand the network at the center of our platform, and make long-term investments in innovation that help customers navigate growing complexity across the claims lifecycle. We believe this positions CCC to deliver even greater value to the insurance economy in the years ahead.”

Third Quarter 2026 Financial Highlights

Revenue

•

Total revenue was $294.1 million for the third quarter of 2026, an increase of 10.1% from $267.1 million for the third quarter of 2025.

Profitability

	•		GAAP gross profit was $218.0 million, representing a gross margin of 74%, for the third quarter of 2026, compared with $193.0 million, representing a gross margin of 72%, for the third quarter of 2025. Adjusted gross profit was $224.6 million, representing an adjusted gross profit margin of 76%, for the third quarter of 2026, compared with $199.5 million, representing an adjusted gross profit margin of 78%, for the third quarter of 2025.
	•		GAAP operating income was $57.4 million for the third quarter of 2026, compared with GAAP operating income of $30.0 million for the third quarter of 2025. Adjusted operating income was $115.7 million for the third quarter of 2026, compared with adjusted operating income of $93.0 million for the third quarter of 2025.
	•		GAAP net income was $30.2 million for the third quarter of 2026, compared with GAAP net loss of $2.0 million for the third quarter of 2025. Adjusted net income was $75.1 million for the third quarter of 2026, compared with $59.4 million for the third quarter of 2025.
	•		Adjusted EBITDA was $130.5 million for the third quarter of 2026, up 18.5% compared with adjusted EBITDA of $110.1 million for the third quarter of 2025.

Liquidity

•

CCC had $202.9 million in cash and cash equivalents and $1.28 billion of total debt as of September 30, 2026. The Company generated $100.4 million in cash from operating activities and had free cash flow of $82.5 million for the third quarter of 2026, compared with $94.8 million in cash generated from operating activities and free cash flow of $78.6 million for the third quarter of 2025.

3^rd Quarter and Recent Business Highlights

• GTCR and Elliott to acquire CCC. On October 15, 2026, CCC announced a definitive agreement to be acquired by a consortium of private investment firms led by GTCR and including Elliott Investment Management in an all-cash transaction in which shareholders will receive $7.75 per share, representing an enterprise value of approximately $6.1 billion. Subject to regulatory and stockholder approvals and other customary closing conditions, the proposed transaction is expected to close in the first quarter of 2027. Following the close, CCC will become a privately held company.
• Insurers expand AI adoption across core claims workflows. CCC’s AI-related revenue reached approximately $130 million in annualized run-rate in the third quarter of 2026, representing growth of 40% year over year and increasing from an annualized run rate of approximately $120 million in the second quarter of 2026. This growth reflects a continuing shift in customer behavior from AI experimentation to AI deployment at scale.
• Leading insurer is largest to adopt Medhub for Auto Casualty. During the third quarter of 2026, a top-five insurer (based on 2025 direct premium written) became the largest insurer to adopt CCC’s Medhub for Auto Casualty, which uses AI to extract critical insights from complex medical records and help claims professionals make faster, more informed decisions grounded in auditable claim data. The deployment marks the largest application of EvolutionIQ’s technology within the P&C auto market and demonstrates customers’ willingness to adopt adjacent workflows from CCC, underscoring the substantial growth opportunity beyond the traditional APD business.

Business Outlook and Conference Call Information

In light of the proposed transaction, the Company is suspending its practice of providing guidance and will not be hosting a conference call or webcast to discuss the Company’s financial results.

About CCC Intelligent Solutions

CCC Intelligent Solutions Inc. (CCC), a subsidiary of CCC Intelligent Solutions Holdings Inc. (NASDAQ: CCC), is a leading SaaS and AI platform provider powering the multi-trillion-dollar insurance and repair economy. CCC connects more than 35,000 businesses, including insurers, repairers, automakers and parts suppliers, through the workflows where claims and repair decisions are made every day. With AI built into those workflows for over a decade and informed by more than 40 years of industry data, CCC helps customers manage growing complexity and move work forward with confidence. Through purposeful innovation and the strength of its network, CCC helps keep people’s lives moving forward when it matters most. Learn more about CCC at www.cccis.com.

Forward Looking Statements

This press release contains forward-looking statements that are based on beliefs and assumptions and on information currently available. In some cases, you can identify forward-looking statements by the following words: “may,” “will,” “could,” “would,” “should,” “expect,” “intend,” “plan,” “anticipate,” “believe,” “estimate,” “predict,” “project,” “potential,” “continue,” “ongoing” or the negative of these terms or other comparable terminology, although not all forward-looking statements contain these words. These statements involve risks, uncertainties and other factors that may cause actual results, levels of activity, performance or achievements to be materially different from the information expressed or implied by these forward-looking statements. Forward-looking statements in this press release include, but are not limited to, future events, goals, plans and projections regarding the Company’s financial position, results of operations, market position, product development and business strategy. Such differences may be material. We cannot assure you that the forward-looking statements in this press release will prove to be accurate. These forward looking statements are subject to a number of risks and uncertainties, including, among others, the occurrence of any event, change or other circumstances that could give rise to the termination of the definitive transaction documents concerning the proposed transaction, including circumstances requiring payment of a termination fee pursuant to the definitive transaction documents; the failure to obtain stockholder approval of the proposed transaction, or the failure to satisfy other conditions to completion, of the proposed transaction; the risk that regulatory approvals required for the proposed transaction may not be obtained in a timely manner or at all, or may be obtained subject to conditions that are not anticipated; the failure to satisfy the other conditions to the consummation of the proposed transaction on a timely basis or at all; risks related to the disruption of management’s attention from the Company’s ongoing business operations due to the proposed transaction; the effect of the announcement or pendency of the proposed transaction on the Company’s business relationships, operating results and business generally; the risk the proposed transaction may not be completed in the time frame expected by the parties or at all; the risk that any announcements relating to the proposed transaction could have adverse effects on the market price of the Company’s common stock; the risk of any litigation related to the proposed transaction; the possibility that competing offers will be made; the risk that certain restrictions during the pendency of the proposed transaction may impact the Company’s ability to pursue certain business opportunities or strategic transactions; our revenues, the concentration of our customers and the ability to retain our current customers; our ability to negotiate with our customers on favorable terms; our ability to maintain and grow our brand and reputation cost-effectively; the execution of our growth strategy; the impact of factors outside our control including public health outbreaks, natural catastrophes, war and terrorism; our projected financial information, growth rate and market opportunity; the health of our industry, claim volumes, and market conditions; changes in the insurance and automotive collision industries, including the adoption of new technologies; global economic conditions and geopolitical events; competition in our market and our ability to retain and grow market share; our ability to develop, introduce and market new enhanced versions of our solutions; our sales and implementation cycles; the ability of our research and development efforts to create significant new revenue streams; changes in applicable laws or regulations; changes in international economic, political, social and governmental conditions and policies, including corruption risks in China and other countries; our reliance on third-party data, technology and intellectual property; our ability to protect our intellectual property; our ability to keep our data and information systems secure from data security breaches; changes in our customers’ or the public’s perceptions regarding the use of artificial intelligence; our ability to acquire or invest in companies or pursue business partnerships; our ability to raise financing in the future and improve our capital structure; our success in retaining or recruiting, or changes required in, our officers, key employees or directors; our estimates regarding expenses, future revenue, capital requirements and needs for additional financing; our ability to expand or maintain our existing customer base; our ability to service our indebtedness; and other risks and uncertainties, including those included under the header “Risk Factors” in the Company’s Annual Report on Form 10-K for the fiscal year ended December 31, 2025, and the Company’s Quarterly Report on Form 10-Q for the three months ended September 30, 2026, filed with the Securities and Exchange Commission (“SEC”), which can be obtained, without charge, at the SEC’s website (www.sec.gov), and in our other filings with the SEC. The forward-looking statements in this press release represent our views as of the date of this press release. We anticipate that subsequent events and developments will cause our views to change. However, while we may elect to update these forward-looking statements at some point in the future, we have no current intention of doing so except to the extent required by applicable law. You should, therefore, not rely on these forward-looking statements as representing our views as of any date subsequent to the date of this press release.

Non-GAAP Financial Measures

This press release includes certain financial measures not presented in accordance with generally accepted accounting principles in the U.S. (“GAAP”), including, but not limited to, “adjusted EBITDA,” “adjusted EBITDA margin,” “adjusted net income,” “adjusted operating income,” “adjusted gross profit,” “adjusted gross profit margin,” “adjusted operating expenses,” and “free cash flow” in each case presented on a non-GAAP basis, and certain ratios and other metrics derived therefrom. These non-GAAP financial measures are not measures of financial performance in accordance with GAAP and may exclude items that are significant in understanding and assessing the Company’s financial results. Therefore, these measures should not be considered in isolation or as an alternative to other measures of profitability, liquidity or performance under GAAP. You should be aware that the Company’s calculation of these non-GAAP measures may not be comparable to similarly-titled measures used by other companies.

The Company believes these non-GAAP measures of financial results provide useful information to management and investors regarding certain financial and business trends relating to the Company’s financial condition and results of operations. The Company believes that the use of these non-GAAP financial measures provides an additional tool for investors to use in evaluating ongoing operating results and trends and in comparing the Company’s financial measures with other similar companies, many of which present similar non-GAAP financial measures to investors. These non-GAAP financial measures are subject to inherent limitations as they reflect the exercise of judgments by management about which expense and income are excluded or included in determining these non-GAAP financial measures. Please refer to the reconciliations of these measures below to what the Company believes are the most directly comparable measures evaluated in accordance with GAAP.

Additional Information and Where to Find It

This communication is being made in respect of the proposed acquisition of the Company by affiliates of GTCR or Elliott and related transactions (collectively, the “proposed transaction”). In accordance with the definitive transaction documents, a meeting of the stockholders of the Company will be announced as promptly as practicable to seek the Company’s stockholder approval in connection with the proposed transaction. The Company intends to file relevant materials with the SEC, including preliminary and definitive proxy statements relating to the proposed transaction. The definitive proxy statement (the “Proxy Statement”) will be mailed to the Company’s stockholders. This communication is not a substitute for the Proxy Statement or any other document that may be filed by the Company with the SEC or sent to its stockholders in connection with the proposed transaction. BEFORE MAKING ANY DECISION, THE COMPANY’S STOCKHOLDERS AND INVESTORS ARE URGED TO CAREFULLY READ THE PROXY STATEMENT (INCLUDING ANY AMENDMENTS OR SUPPLEMENTS THERETO) AND ANY OTHER RELEVANT DOCUMENTS FILED OR TO BE FILED WITH THE SEC IN CONNECTION WITH THE PROPOSED TRANSACTION OR INCORPORATED BY REFERENCE INTO THE PROXY STATEMENT AS, IF AND WHEN THEY BECOME AVAILABLE BECAUSE THEY WILL CONTAIN IMPORTANT INFORMATION ABOUT THE COMPANY, GTCR or Elliott AND THE PROPOSED TRANSACTION. Investors and security holders will be able to obtain a free copy of the Proxy Statement (when available) as well as other documents filed by the Company with the SEC through the website maintained by the SEC at www.sec.gov. Copies of the documents filed with the SEC by the Company will be available free of charge on the Company’s website at https://ir.cccis.com or by contacting the Company’s investor relations department at IR@cccis.com.

Participants in the Solicitation

The Company and its directors and executive officers may be considered participants in the solicitation of proxies from the Company’s stockholders in connection with the proposed transaction. Information about the directors and executive officers of the Company, including a description of their beneficial ownership of the Company’s securities, is set forth in the Company’s proxy statement for its 2026 annual meeting of stockholders, which was filed with the SEC on April 7, 2026 (the “Annual Meeting Proxy Statement”). To the extent the holdings of the Company’s securities by its directors or executive officers have changed since the amounts set forth in the Annual Meeting Proxy Statement, such changes have been or will be reflected on Forms 3, 4 and 5 filed with the SEC. Other information regarding the participants in the proxy solicitation and a description of their direct and indirect interests, by security holdings or otherwise, in the proposed transaction will be contained in the Proxy Statement and in other relevant materials to be filed with the SEC regarding the proposed transaction when they become available. You may obtain these documents (when they become available) as described above.

Investor Contact:
Bill Warmington
VP, Investor Relations, CCC Intelligent Solutions Inc.
312-229-2355
IR@cccis.com

Media Contact:
Michelle Hellyar
Senior Director, Public Relations, CCC Intelligent Solutions Inc.
mhellyar@cccis.com

CCC INTELLIGENT SOLUTIONS HOLDINGS INC. AND SUBSIDIARIES
CONDENSED CONSOLIDATED BALANCE SHEETS
(In thousands, except share data)
		September 30,				December 31,
			2026				2025
		(Unaudited)
ASSETS
CURRENT ASSETS:
Cash and cash equivalents		$	202,926			$	111,192
Accounts receivable—Net of allowances of $4,044 and $3,773 as of September 30, 2026 and December 31, 2025, respectively			142,078				137,056
Income taxes receivable			24,933				33,274
Deferred contract costs			22,897				24,923
Other current assets			33,679				28,653
Total current assets			426,513				335,098
SOFTWARE, EQUIPMENT, AND PROPERTY—Net			173,171				166,796
OPERATING LEASE ASSETS			34,258				36,047
INTANGIBLE ASSETS—Net			942,018				1,010,658
GOODWILL			1,955,551				1,955,551
DEFERRED FINANCING FEES, REVOLVER—Net			1,092				1,368
DEFERRED CONTRACT COSTS			20,824				22,479
EQUITY METHOD INVESTMENT			10,228				10,228
OTHER ASSETS			38,406				35,207
TOTAL		$	3,602,061			$	3,573,432
LIABILITIES AND STOCKHOLDERS’ EQUITY
CURRENT LIABILITIES:
Accounts payable		$	24,245			$	30,954
Accrued expenses			78,976				80,897
Current portion of long-term debt			13,033				13,033
Current portion of long-term licensing agreement—Net			3,632				3,466
Operating lease liabilities			6,072				7,785
Deferred revenues			54,917				72,793
Note payable to minority investor			27,562				25,197
Total current liabilities			208,437				234,125
LONG-TERM DEBT—Net			1,256,563				1,264,941
DEFERRED INCOME TAXES—Net			217,194				199,311
LONG-TERM LICENSING AGREEMENT—Net			18,223				20,968
OPERATING LEASE LIABILITIES			50,014				51,467
OTHER LIABILITIES			9,745				15,610
Total liabilities			1,760,176				1,786,422
COMMITMENTS AND CONTINGENCIES (Notes 19 and 20)
STOCKHOLDERS’ EQUITY:
Preferred stock—$0.0001 par; 100,000,000 shares authorized; no shares issued or outstanding			—				—
Common stock—$0.0001 par; 5,000,000,000 shares authorized; 590,525,042 and 605,449,050 shares issued and outstanding as of September 30, 2026 and December 31, 2025, respectively			59				60
Additional paid-in capital			3,571,841				3,483,031
Accumulated deficit			(1,729,118	)			(1,695,057	)
Accumulated other comprehensive loss			(897	)			(1,024	)
Total stockholders’ equity			1,841,885				1,787,010
TOTAL		$	3,602,061			$	3,573,432

CCC INTELLIGENT SOLUTIONS HOLDINGS INC. AND SUBSIDIARIES
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME (LOSS)
(In thousands, except share and per share data)
(Unaudited)
		For the Three Months Ended								For the Nine Months Ended
		September 30,								September 30,
			2026				2025				2026				2025
REVENUES		$	294,093			$	267,120			$	861,298			$	779,136
COST OF REVENUES
Cost of revenues, exclusive of amortization of acquired technologies			71,719				69,779				210,671				194,050
Amortization of acquired technologies			4,368				4,368				13,105				13,105
Total cost of revenues			76,087				74,147				223,776				207,155
GROSS PROFIT			218,006				192,973				637,522				571,981
OPERATING EXPENSES:
Research and development			53,042				52,947				158,556				174,639
Selling and marketing			38,017				44,208				120,934				135,980
General and administrative			51,049				47,332				148,660				162,080
Amortization of intangible assets			18,511				18,512				55,535				55,536
Total operating expenses			160,619				162,999				483,685				528,235
OPERATING INCOME			57,387				29,974				153,837				43,746
INTEREST EXPENSE			(20,900	)			(18,103	)			(61,559	)			(52,866	)
INTEREST INCOME			1,365				1,065				3,050				4,233
OTHER INCOME (EXPENSE)—NET			2,082				466				8,615				(6,688	)
PRETAX INCOME (LOSS)			39,934				13,402				103,943				(11,575	)
INCOME TAX (PROVISION) BENEFIT			(9,703	)			(15,373	)			(37,508	)			5,143
NET INCOME (LOSS) INCLUDING NON-CONTROLLING INTEREST			30,231				(1,971	)			66,435				(6,432	)
LESS: ACCRETION OF REDEEMABLE NON-CONTROLLING INTEREST			—				—				—				(1,276	)
NET INCOME (LOSS) ATTRIBUTABLE TO CCC INTELLIGENT SOLUTIONS HOLDINGS INC. COMMON STOCKHOLDERS		$	30,231			$	(1,971	)		$	66,435			$	(7,708	)
Net income (loss) per share attributable to common stockholders:
Basic		$	0.05			$	(0.00	)		$	0.11			$	(0.01	)
Diluted		$	0.05			$	(0.00	)		$	0.11			$	(0.01	)
Weighted-average shares used in computing net income (loss) per share attributable to common stockholders:
Basic			575,679,641				631,440,015				578,837,408				635,263,670
Diluted			593,430,988				631,440,015				595,291,220				635,263,670
COMPREHENSIVE INCOME (LOSS):
Net income (loss) including non-controlling interest			30,231				(1,971	)			66,435				(6,432	)
Other comprehensive income—Foreign currency translation adjustment			33				83				127				121
COMPREHENSIVE INCOME (LOSS) INCLUDING NON-CONTROLLING INTEREST			30,264				(1,888	)			66,562				(6,311	)
Less: accretion of redeemable non-controlling interest			—				—				—				(1,276	)
COMPREHENSIVE INCOME (LOSS) ATTRIBUTABLE TO CCC INTELLIGENT SOLUTIONS HOLDINGS INC. COMMON STOCKHOLDERS		$	30,264			$	(1,888	)		$	66,562			$	(7,587	)

CCC INTELLIGENT SOLUTIONS HOLDINGS INC. AND SUBSIDIARIES
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS
(In thousands)
(Unaudited)
		For the Nine Months Ended
		September 30,
			2026				2025
CASH FLOWS FROM OPERATING ACTIVITIES:
Net income (loss)		$	66,435			$	(6,432	)
Adjustments to reconcile net income (loss) to net cash provided by operating activities:
Depreciation and amortization of software, equipment, and property			42,120				44,376
Amortization of intangible assets			68,640				68,641
Deferred income taxes			17,883				(1,208	)
Stock-based compensation			93,794				146,216
Amortization of deferred financing fees			1,562				1,405
Amortization of discount on debt			110				117
Change in fair value of derivative instruments			(10,019	)			8,441
Noncash interest expense			2,365				1,491
Changes in:
Accounts receivable—Net			(5,051	)			(33,743	)
Deferred contract costs			2,026				(566	)
Other current assets			(2,422	)			(2,770	)
Deferred contract costs—Non-current			1,655				(1,902	)
Other assets			(3,199	)			139
Operating lease assets			1,789				1,855
Income taxes			10,482				(30,733	)
Accounts payable			(6,707	)			3,813
Accrued expenses			(364	)			(6,720	)
Operating lease liabilities			(3,166	)			(3,277	)
Deferred revenues			(17,875	)			10,073
Other liabilities			(594	)			(2,901	)
Net cash provided by operating activities			259,464				196,315
CASH FLOWS FROM INVESTING ACTIVITIES:
Purchases of software, equipment, and property			(52,966	)			(46,684	)
Acquisition of EvolutionIQ, Inc., net of cash acquired			—				(410,412	)
Net cash used in investing activities			(52,966	)			(457,096	)
CASH FLOWS FROM FINANCING ACTIVITIES:
Proceeds from exercise of stock options			9,314				3,603
Proceeds from employee stock purchase plan			4,338				5,044
Payments for employee taxes withheld upon vesting of equity awards			(18,631	)			(48,262	)
Repurchase of common stock			(100,166	)			(212,485	)
Proceeds from issuance of long-term debt			—				225,000
Payments of fees associated with the debt modification			—				(6,565	)
Principal payments on long-term debt			(9,774	)			(7,508	)
Net cash used in financing activities			(114,919	)			(41,173	)
NET EFFECT OF EXCHANGE RATE CHANGES ON CASH AND CASH EQUIVALENTS			155				112
NET CHANGE IN CASH AND CASH EQUIVALENTS			91,734				(301,842	)
CASH AND CASH EQUIVALENTS:
Beginning of period			111,192				398,983
End of period		$	202,926			$	97,141
NONCASH INVESTING AND FINANCING ACTIVITIES:
Noncash purchases of software, equipment, and property		$	2,633			$	—
Stock issued related the acquisition of EvolutionIQ, Inc.		$	—			$	250,441
Issuance of promissory note to minority investor of redeemable preferred securities		$	—			$	22,955
SUPPLEMENTAL DISCLOSURES OF CASH FLOW INFORMATION:
Cash paid for interest		$	57,637			$	51,893
Cash paid for income taxes—Net		$	9,142			$	26,199

CCC INTELLIGENT SOLUTIONS HOLDINGS INC. AND SUBSIDIARIES RECONCILIATION OF GROSS PROFIT TO ADJUSTED GROSS PROFIT (In thousands, except profit margin percentage data) (Unaudited)
		Three Months Ended September 30,								Nine Months Ended September 30,
(amounts in thousands, except percentages)			2026				2025				2026				2025
Gross Profit		$	218,006			$	192,973			$	637,522			$	571,981
Amortization of acquired technologies			4,368				4,368				13,105				13,105
Stock-based compensation and related employer payroll tax			2,265				2,156				6,913				9,395
Adjusted Gross Profit		$	224,639			$	199,497			$	657,540			$	594,481
Gross Profit Margin			74	%			72	%			74	%			73	%
Adjusted Gross Profit Margin			76	%			75	%			76	%			76	%

CCC INTELLIGENT SOLUTIONS HOLDINGS INC. AND SUBSIDIARIES RECONCILIATION OF GAAP OPERATING EXPENSES TO ADJUSTED OPERATING EXPENSES (In thousands) (Unaudited)
		Three Months Ended September 30,								Nine Months Ended September 30,
(dollar amounts in thousands)			2026				2025				2026				2025
Operating expenses		$	160,619			$	162,999			$	483,685			$	528,235
Amortization of intangible assets			(18,511	)			(18,512	)			(55,535	)			(55,536	)
Stock-based compensation expense and related employer payroll tax			(29,493	)			(37,623	)			(90,446	)			(142,562	)
M&A and integration costs			(3,657	)			(234	)			(4,164	)			(8,200	)
Equity transaction costs, including secondary offerings			—				(177	)			—				(629	)
Litigation proceeds, net			—				—				—				3,665
Debt refinancing costs			—				—				—				(3,119	)
Adjusted Operating Expenses		$	108,958			$	106,453			$	333,540			$	321,854

CCC INTELLIGENT SOLUTIONS HOLDINGS INC. AND SUBSIDIARIES RECONCILIATION OF GAAP OPERATING INCOME TO ADJUSTED OPERATING INCOME (In thousands) (Unaudited)
		Three Months Ended September 30,						Nine Months Ended September 30,
(dollar amounts in thousands)			2026			2025			2026			2025
Operating income		$	57,387		$	29,974		$	153,837		$	43,746
Amortization of intangible assets			18,511			18,512			55,535			55,536
Amortization of acquired technologies—Cost of revenue			4,368			4,368			13,105			13,105
Stock-based compensation expense and related employer payroll tax			31,758			39,779			97,359			151,957
M&A and integration costs			3,657			234			4,164			8,200
Equity transaction costs, including secondary offerings			—			177			—			629
Litigation proceeds, net			—			—			—			(3,665	)
Debt refinancing costs			—			—			—			3,119
Adjusted Operating Income		$	115,681		$	93,044		$	324,000		$	272,627

CCC INTELLIGENT SOLUTIONS HOLDINGS INC. AND SUBSIDIARIES RECONCILIATION OF GAAP NET INCOME (LOSS) TO ADJUSTED EBITDA (In thousands, except for EBITDA margin percentage data) (Unaudited)
		Three Months Ended September 30,								Nine Months Ended September 30,
(dollar amounts in thousands)			2026				2025				2026				2025
Net income (loss)		$	30,231			$	(1,971	)		$	66,435			$	(6,432	)
Interest expense			20,900				18,103				61,559				52,866
Interest income			(1,365	)			(1,065	)			(3,050	)			(4,233	)
Income tax provision (benefit)			9,703				15,373				37,508				(5,143	)
Amortization of intangible assets			18,511				18,512				55,535				55,536
Amortization of acquired technologies—Cost of revenue			4,368				4,368				13,105				13,105
Depreciation and amortization of software, equipment and property			2,048				2,180				6,069				6,675
Depreciation and amortization of software, equipment and property—Cost of revenue			12,763				14,823				36,051				37,701
Stock-based compensation expense and related employer payroll tax			31,758				39,779				97,359				151,957
M&A and integration costs			3,657				234				4,164				8,200
Litigation proceeds, net			—				—				—				(3,665	)
Debt refinancing costs			—				—				—				3,119
Equity transaction costs, including secondary offerings			—				177				—				629
Change in fair value of derivative instruments			(2,514	)			60				(10,019	)			8,441
Expense (Income) from derivative instruments			479				(453	)			1,501				(1,442	)
Adjusted EBITDA		$	130,539			$	110,120			$	366,217			$	317,314
Adjusted EBITDA Margin			44	%			41	%			43	%			41	%

CCC INTELLIGENT SOLUTIONS HOLDINGS INC. AND SUBSIDIARIES RECONCILIATION OF GAAP NET INCOME (LOSS) TO ADJUSTED NET INCOME (In thousands, except share and per share data) (Unaudited)
		Three Months Ended September 30,								Nine Months Ended September 30,
(dollar amounts in thousands)			2026				2025				2026				2025
Net income (loss)		$	30,231			$	(1,971	)		$	66,435			$	(6,432	)
Amortization of intangible assets			18,511				18,512				55,535				55,536
Amortization of acquired technologies—Cost of revenue			4,368				4,368				13,105				13,105
Stock-based compensation expense and related employer payroll tax			31,758				39,779				97,359				151,957
M&A and integration costs			3,657				234				4,164				8,200
Litigation proceeds, net			—				—				—				(3,665	)
Debt refinancing costs			—				—				—				3,119
Equity transaction costs, including secondary offerings			—				177				—				629
Change in fair value of derivative instruments			(2,514	)			60				(10,019	)			8,441
Tax effect of adjustments			(10,863	)			(1,730	)			(23,344	)			(58,124	)
Adjusted Net Income		$	75,148			$	59,429			$	203,235			$	172,766
Adjusted Net Income Per Share attributable to common stockholders:
Basic		$	0.13			$	0.09			$	0.35			$	0.27
Diluted		$	0.13			$	0.09			$	0.34			$	0.26
Weighted average shares outstanding:
Basic			575,679,641				631,440,015				578,837,408				635,263,670
Diluted			593,430,988				657,825,243				595,291,220				664,060,542

CCC INTELLIGENT SOLUTIONS HOLDINGS INC. AND SUBSIDIARIES RECONCILIATION OF NET CASH FLOW FROM OPERATING ACTIVITIES TO FREE CASH FLOW (In thousands) (Unaudited)
		Three Months Ended September 30,								Nine Months Ended September 30,
(dollar amounts in thousands)			2026				2025				2026				2025
Net cash provided by operating activities		$	100,429			$	94,767			$	259,464			$	196,315
Purchases of software, equipment, and property			(17,964	)			(16,135	)			(52,966	)			(46,684	)
Free Cash Flow		$	82,465			$	78,632			$	206,498			$	149,631

SHANGHAI, Oct. 29, 2026 (GLOBE NEWSWIRE) — Shanghai Junshi Biosciences Co., Ltd (Junshi Biosciences, HKEX: 1877; SSE: 688180), a leading innovation-driven biopharmaceutical company dedicated to the discovery, development, and commercialization of novel therapies, announced that the first patient dosing has been completed in a multi-center, randomized, controlled, and open-label phase 3 clinical study evaluating the efficacy and safety of the company’s product, recombinant humanized anti-PD-1/VEGF bispecific antibody (code: JS207), in combination with recombinant humanized anti-CTLA-4 monoclonal antibody (code: JS007) compared to toripalimab in combination with bevacizumab for the first-line treatment of advanced hepatocellular carcinoma (JS207-017-III-HCC Study, NCT07823348).

Liver cancer is a common malignant tumor of the digestive system worldwide, with hepatocellular carcinoma (HCC) being the main pathological type (accounting for approximately 90%). China bears an exceptionally heavy disease burden of liver cancer. According to statistics of GLOBOCAN 2024, there were approximately 354,100 new liver cancer cases and 303,800 liver cancer deaths in China in 2024, making it the second leading cause of cancer-related death after lung cancer. Due to its insidious onset, over 50% of patients are diagnosed at an intermediate or advanced stage.

Systemic therapy is an important treatment modality for intermediate and advanced liver cancer, which primarily includes molecular targeted drugs, immunotherapy and systemic chemotherapy. However, as the median overall survival of current first-line systemic therapies is less than 2 years, there remain substantial unmet clinical needs for patients with intermediate and advanced liver cancer.

In October 2026, the results of a phase 2 clinical study of JS207 in combination with JS007 for the first-line treatment of advanced HCC were presented at the European Society for Medical Oncology (ESMO) Congress 2026 (Abstract No.: #1693eP). The study results showed that the drug combination therapy exhibited robust anti-tumor activity. A total of 36 patients received treatment of JS207 in combination with JS007 (3 mg/kg Q6W for two cycles, and 1 mg/kg Q6W (i.e. recommended dose) thereafter). Among 34 efficacy-evaluable patients, the objective response rate (ORR) of combined treatment reached 44.1%, the disease control rate (DCR) reached 85.3%, the median progression-free survival (PFS) had not yet been reached, and the six-month PFS rate reached 67%. The drug combination therapy was well tolerated.

JS207-017-III-HCC study is a multi-center, randomized, controlled, open-label phase 3 clinical study. The study aims to evaluate the efficacy and safety of JS207 in combination with JS007 compared to toripalimab in combination with bevacizumab for the first-line treatment of advanced hepatocellular carcinoma. This study plans to enroll 560 subjects, and the primary endpoints are PFS and overall survival (OS).

About JS207

JS207 is a recombinant humanized anti-PD-1/VEGF bispecific antibody self-developed by Junshi Biosciences, mainly used for the treatment of advanced malignant tumors. JS207 can simultaneously bind to PD-1 and VEGFA with high affinity, effectively block the binding of PD-1 to PD-L1 and PD-L2, and inhibit the binding of VEGF to its receptor. JS207 has the efficacy properties of both immunotherapeutic drugs and anti-angiogenic drugs. Through the neutralization of VEGF, JS207 inhibits the proliferation of vascular endothelial cells, improves the tumor microenvironment and increases the infiltration of cytotoxic T lymphocytes in the tumor microenvironment, thereby achieving better anti-tumor activity.

JS207 is designed based on the high-affinity, clinically proven and differentiated anti-PD-1 drug toripalimab as the backbone. The anti-PD-1 moiety of JS207 adopts a Fab structure to maintain binding affinity to PD-1 and thereby attain better enrichment in the tumor microenvironment. The anti-VEGF moiety has a binding affinity for human vascular endothelial growth factor that is comparable to that of bevacizumab. In non-clinical in vitro cytological tests, compared with the combination of an anti-PD-1/PD-L1 monoclonal antibody and a VEGF monoclonal antibody, a bispecific antibody simultaneously targeting PD-1/PD-L1 and VEGF demonstrated significantly enhanced PD-1 antigen binding and internalization, and synergistic enhancement of the NFAT signaling pathway, thereby better activating immune cells in the tumor microenvironment.

About JS007

JS007 is a recombinant humanized anti-CTLA-4 monoclonal antibody injection self-developed by the Company, mainly used for the treatment of advanced malignant tumors. Cytotoxic T lymphocyte-associated antigen-4 (CTLA-4) is an important receptor for T cell surface modulates immune response. Studies have shown that JS007 is able to bind to CTLA-4 specifically and block the interaction between CTLA-4 and its ligand B7 (CD80 or CD86) effectively, thereby activates T-lymphocyte and inhibits the growth of tumor.

About Junshi Biosciences

Founded in December 2012, Junshi Biosciences (HKEX: 1877; SSE: 688180) is an innovation-driven biopharmaceutical company dedicated to the discovery, development and commercialization of innovative therapeutics. With our outstanding capacity for innovative drug discovery, strong biotechnology R&D capability, and large-scale production capacity, we have successfully developed a drug candidate portfolio with global competitiveness and a well-structured research pipeline, which covers therapeutic areas including cancer, autoimmune, metabolic, and infectious diseases. Our innovative field spans cutting-edge therapeutic modalities, including mAbs, small-molecule drugs, ADCs, bsAb/msAb, fusion proteins, nucleic acid drugs and vaccines. Five of the company’s products have received marketing authorizations in China and international markets, one of which is toripalimab, China’s domestically developed anti-PD-1 monoclonal antibody. Toripalimab has been approved in over 50 countries and regions including China, the US, and Europe.

With a mission of “providing patients with world-class, trustworthy, affordable, and innovative drugs,” Junshi Biosciences is “In China, For Global.” The company currently employs more than 3,000 people worldwide. Headquartered in Shanghai, China, it has a business presence in multiple countries and regions around the world. For more information, please visit: http://www.junshipharma.com.

Junshi Biosciences Contact Information

IR Team:
Junshi Biosciences
info@junshipharma.com
+ 86 021-6105 8800

PR Team:
Junshi Biosciences
Zhi Li
zhi_li@junshipharma.com
+ 86 021-6105 8800

MALVERN, Pa., Oct. 29, 2026 (GLOBE NEWSWIRE) — Ocugen, Inc. (Ocugen or the Company) (NASDAQ: OCGN), a pioneering biotechnology company developing gene therapies for blindness diseases, today announced that the Company will present on its innovative modifier gene therapy platform at upcoming investor and industry conferences in November 2026.

Stifel 2026 Healthcare Conference
Location: New York, NY
Date: Thursday, November 12, 2026
Time: 10:00–10:30 a.m. ET
Format: Presentation
Presenter: Dr. Shankar Musunuri, Chairman, CEO, and Co-Founder, Ocugen

Cell & Gene Leaders Live 2026
Location: The Shard, London, UK
Date: Sunday, November 15, 2026
Time: 3:15–4:00 p.m. GMT
Format: Panel discussion
Presenter: Dr. Shankar Musunuri, Chairman, CEO, and Co-Founder, Ocugen

A webcast of the Stifel presentation will be available under the “Events and Presentation” page of the Investors section of the Company’s website. A replay of the webcast will be available for 30 days following the event. For more information, please visit Investors | Ocugen, Inc.

About Ocugen, Inc.
Ocugen, Inc. is a pioneering biotechnology company developing gene therapies for blindness diseases. The Company’s breakthrough modifier gene therapy platform has the potential to address significant unmet medical needs across large patient populations through a gene-agnostic approach. Unlike traditional gene therapies and gene-editing technologies that target a single gene mutation, Ocugen’s modifier gene therapies are designed to address the underlying disease biology by restoring balance across multiple gene networks. The Company is currently advancing programs for inherited retinal diseases and other causes of blindness that affect millions worldwide, including retinitis pigmentosa, Stargardt disease, and geographic atrophy, an advanced form of dry age-related macular degeneration. Discover more at www.ocugen.com and follow us on LinkedIn and X.

Cautionary Note on Forward-Looking Statements
This press release contains forward-looking statements within the meaning of The Private Securities Litigation Reform Act of 1995, which are subject to risks and uncertainties. We may, in some cases, use terms such as “predicts,” “believes,” “potential,” “proposed,” “continue,” “estimates,” “anticipates,” “expects,” “plans,” “intends,” “may,” “could,” “might,” “will,” “should,” or other words that convey uncertainty of future events or outcomes to identify these forward-looking statements. Such statements are subject to numerous important factors, risks, and uncertainties that may cause actual events or results to differ materially from our current expectations. These and other risks and uncertainties are more fully described in our filings with the Securities and Exchange Commission (SEC), including the risk factors described in the section entitled “Risk Factors” in the quarterly and annual reports that we file with the SEC. Any forward-looking statements that we make in this press release speak only as of the date of this press release. Except as required by law, we assume no obligation to update forward-looking statements contained in this press release whether as a result of new information, future events, or otherwise, after the date of this press release.

Contacts:

Investors:
Candice Masse
astr partners
candice.masse@astrpartners.com

Media:
Chris Clark
chris.clark@ocugen.com

OTTAWA, Canada, Oct. 29, 2026 (GLOBE NEWSWIRE) — Telesat (Nasdaq and TSX: TSAT), one of the world’s largest and most innovative satellite operators, today announced its financial results for the three- and nine-month periods ended September 30, 2026. All amounts are in Canadian dollars and reported under IFRS^® Accounting Standards unless otherwise noted.

“I’m pleased with the strong progress we made last quarter and throughout the year on our key strategic objectives,” commented Dan Goldberg, Telesat’s President and CEO. “The third quarter marked the signing of our landmark $2.7 billion initial agreement with the Government of Canada for the ESCP-P program, a major milestone in validating the large and growing opportunity for Telesat Lightspeed in the sovereign satellite communications space. We see this initial ESCP-P contract as just the first step in a very attractive pipeline of government and defence opportunities with Canada and allied countries, and we’re moving in a focused way to secure those opportunities and turn them into contracted backlog. In parallel, we’re making steady progress on the initial Telesat Lightspeed constellation, now expanded to a planned 225 satellites, and the ground infrastructure that will support it. Telesat Lightspeed is fully funded and we expect to commence high latitude commercial service around the end of Q1 2028.”

“In our GEO business, we continue to be laser-focused on maximizing the revenue and cash flow from our existing GEO satellite fleet while at the same time taking a highly disciplined approach to cost management. Our GEO business has performed consistent with our expectations in the first nine months of the year, and we are reiterating our 2026 GEO revenue and adjusted EBITDA guidance.”

“Finally, we remain focused on refinancing the Telesat GEO debt, as it begins to mature later this year. Our advisors continue to seek good-faith engagement with the Telesat GEO debtholders and to evaluate other alternatives as well, with the goal of reaching an outcome that is fair to all stakeholders.”

For the quarter ended September 30, 2026, Telesat reported consolidated revenue of $81 million, a decrease of 20% ($20 million) compared to the same period of the prior year, and adjusted EBITDA¹ of $12 million, a decrease of 74% ($35 million) from the third quarter of 2025. Foreign exchange did not materially impact these year-on-year comparisons. Excluding the impact of higher expenses related to our debt refinancing process, adjusted EBITDA decreased 41%. Telesat net loss for the quarter was $157 million compared to a $121 million loss in the prior year. The increased net loss was primarily due to lower adjusted EBITDA and a larger loss associated with increases in the fair value of the Telesat Lightspeed Financing Warrants, partially offset by a foreign exchange gain in the third quarter of 2026 compared to a foreign exchange loss in the third quarter of 2025.

In our GEO segment, revenue for the quarter was $79 million, a decrease of 21% ($22 million) from the same period in 2025. The revenue decline was driven primarily by non-renewal of a broadcast contract in 2025 and a reduction in contracted capacity for a broadcast customer in 2026, combined with a reduction in service to a North American broadband customer and the removal from service of certain geostationary satellites. GEO segment adjusted EBITDA for the quarter was $36 million, a 43% ($27 million) decline from the comparable period in 2025, reflecting lower revenue and higher expenses related to our debt refinancing process. Adjusted EBITDA for the third quarter of 2026 included $25 million in expenses relating to our debt refinancing process. Excluding these costs, adjusted EBITDA for the GEO segment was 23% lower than the prior period and the adjusted EBITDA margin¹ was 78%, compared to 79% in the same period of 2025.

In our LEO segment, we invested $368 million in the Telesat Lightspeed program in the third quarter of 2026, comprising $24 million in operating expense and $344 million in capital expenditure.

For the nine-month period ending September 30, 2026, Telesat reported consolidated revenue of $247 million, a decrease of 24% ($77 million) compared to the prior year, and adjusted EBITDA¹ of $69 million, a decrease of 60% ($104 million) from the first nine months of 2025. Foreign exchange does not materially impact these year-on-year comparisons. Excluding the impact of higher expenses related to our debt refinancing process, adjusted EBITDA decreased 42%. Telesat net loss for the first nine months of 2026 was $867 million, compared to a $97 million net loss in the prior year. The variance was primarily due to a loss associated with an increase in the fair value of the Telesat Lightspeed Financing Warrants, a GEO goodwill impairment charge, lower adjusted EBITDA, and a foreign exchange loss.

GEO segment revenue in the nine months ending September 30, 2026 was $243 million, a 24% decline ($79 million) from the same period in 2025. GEO segment adjusted EBITDA for the nine months ending September 30, 2026 was $135 million, a 40% decline from the comparable period in 2025. Excluding expenses related to our debt refinancing process, adjusted EBITDA for the GEO segment was 28% lower than the prior period, and the adjusted EBITDA margin was 74% in the first nine months of 2026, compared to 78% in the same period of 2025.

Telesat invested $705 million in the Telesat Lightspeed program in the first nine months of 2026, of which $64 million was recorded as operating expense and $641 million as capital expenditure.

As of September 30, 2026, backlog² for our GEO segment totaled approximately $779 million and LEO backlog² totaled approximately $5.6 billion. GEO satellite utilization was approximately 59% at September 30, 2026.

Business Highlights

• In August, Telesat announced a $2.7 billion agreement, including option periods, with Canada’s Defence Investment Agency to deliver Telesat Lightspeed Military Ka-band services to the Canadian Armed Forces for the Enhanced Satellite Communications Project – Polar (ESCP-P) program. The contract is for a period of 15 years, including option years, with service under the contract beginning once Telesat Lightspeed enters commercial service. The contract includes milestone-based payments totaling $2.0 billion which are expected to be received between Q3 2026 and Q4 2028. The milestone payments will principally be used to fund the expansion of the Telesat Lightspeed constellation from a planned 156 to 225 satellites.

2026 Financial Outlook

(assumes an average foreign exchange rate of US$1=C$1.38)

Telesat is reiterating its 2026 GEO segment guidance provided in March:

• GEO revenue to be between $300 million and $320 million;
• GEO Adjusted EBITDA¹ to be between $210 million and $230 million, excluding non-recurring debt refinancing costs.

Telesat is adjusting its Telesat Lightspeed spending forecast to reflect the expected timing of satellite and launch payments:

• Total spending on the Telesat Lightspeed program, including both expensed and capitalized costs, is now expected to be in the $1.1 billion to $1.3 billion range, compared to the $1.3 billion to $1.5 billion range we provided when we reported second quarter 2026 earnings.

Telesat’s quarterly report on Form 6-K for the quarter and nine months ended September 30, 2026, has been filed with the United States Securities and Exchange Commission (SEC) and the Canadian securities regulatory authorities, and may be accessed on the SEC’s website at www.sec.gov and on the System for Electronic Document Analysis and Retrieval+ (SEDAR+) website at www.sedarplus.ca.

Conference Call

Telesat has scheduled a conference call on Thursday, October 29, 2026, at 10:30 a.m. EDT to discuss its financial results for the three- and nine-month periods ended September 30, 2026. The call will be hosted by Daniel S. Goldberg, President and Chief Executive Officer, and Donald Tremblay, Chief Financial Officer, of Telesat.

Dial-in Instructions:

The toll-free dial-in number for the teleconference is +1-800-715-9871. Callers outside of North America should dial +1-646-307-1963. The access code is 7883390 followed by the number sign (#). Please allow at least 15 minutes prior to the scheduled start time to connect to the teleconference. In the event of technical issues, please dial *0 and advise the conference call operator of the company name (Telesat) and the name of the moderator (James Ratcliffe).

Webcast:

The conference call can also be accessed, as a listen in only, at https://edge.media-server.com/mmc/p/xpg46ypy. A replay of the webcast will be archived on Telesat’s website under the tab “Investors”.

Dial-in Audio Replay:

A replay of the teleconference will be available one hour after the end of the call on October 29, 2026, until 11:59 p.m. EDT on November 12, 2026. To access the replay, please call +1-800-770-2030. Callers from outside North America should dial +1-609-800-9909. The access code is 7883390 followed by the number sign (#).

About Telesat

Telesat Corporation (Nasdaq and TSX: TSAT) is a global satellite operator and leader in advanced satellite communications. Through its Telesat Lightspeed Low Earth Orbit (LEO) network, Telesat is delivering a new generation of high-performance connectivity for telecom, enterprise and government customers. Designed around open standards, Telesat Lightspeed enables seamless integration of high-throughput, low latency satellite services into existing terrestrial networks and operations, extending and augmenting network capabilities with greater control, visibility and assurance. Its advanced, software-defined architecture operates in both commercial and military Ka-band spectrum, enabling secure, resilient broadband communications with protection against evolving threats. Backed by nearly 60 years of innovation and engineering excellence, Telesat is uniquely positioned to help customers solve their most complex communications challenges with scalable and future-ready solutions. For updates on Telesat, follow us on LinkedIn and X, or visit www.telesat.com.

Investor Relations Contact:
James Ratcliffe
+1 613 748 8424
ir@telesat.com

Forward-Looking Statements Safe Harbor

This news release contains statements that are not based on historical fact, including financial outlook for 2026, estimated timing of the commencement of global commercial service on Telesat Lightspeed and the growth opportunities of Telesat Lightspeed, including potential government and defence opportunities with Canada and allied countries, and are “forward-looking statements’’ and “future-orientated financial performance” within the meaning of the Private Securities Litigation Reform Act of 1995 and Canadian securities laws. When used herein, statements which are not historical in nature, or which contain the words “will,” “expect,” “planned,” “continue,” or similar expressions, are forward-looking statements. Actual results may differ materially from the expectations expressed or implied in the forward-looking statements and future-orientated financial information as a result of known and unknown risks and uncertainties. Future-orientated financial information contained in this news release about prospective financial performance, financial position, or cash flows are expected to give the reader a better understanding of the potential future performance of Telesat. Readers are cautioned that any such future-orientated financial information and financial outlook contained herein should not be used for purposes other than those disclosed herein. All statements made in this news release are made only as of the date set forth at the beginning of this release. Telesat undertakes no obligation to update the information made in this news release in the event facts or circumstances subsequently change after the date of this release.

These forward-looking statements and future-orientated financial information are not guarantees of future performance, are based on Telesat’s current expectations, and are subject to a number of risks, uncertainties, assumptions, and other factors, some of which are beyond Telesat control, are difficult to predict, and could cause actual results to differ materially from those expressed or forecasted in the forward-looking statements. Known risks and uncertainties include but are not limited to: risks associated with financial factors, including swings in the global financial markets, access to capital to construct our LEO satellite constellation, the ability to refinance Telesat GEO Inc.’s debt, the outcome of litigation related to Telesat GEO Inc.’s debt and the 62% equity distribution, volatility of securities values in an industry sector where values may be influenced by economic and other factors beyond Telesat’s control, inflation, rising or prolonged elevated interest rates, fluctuations in foreign exchange rates, and tariffs; risks associated with operating satellites and providing satellite services, including satellite construction or launch delays, launch failures, in-orbit failures, impaired satellite performance or dependence on large customers; the ability to deploy successfully an advanced global LEO satellite constellation and the timing of any such deployment; Telesat’s ability to meet the conditions for advance of the loans under the funding agreements for the constellation; technological hurdles, including Telesat’s and Telesat’s contractors’ development and deployment of the new technologies required to complete the constellation in time to meet Telesat’s schedule, or at all, the availability of services and components from Telesat’s and Telesat’s contractors’ supply chains; competition, including with other LEO systems, deployed and yet to be deployed; risks associated with domestic and foreign government regulation, including government restrictions and regulations, access to sufficient orbital spectrum to be able to deliver services effectively and access to sufficient geographic markets in which to sell those services; Telesat’s ability to develop significant commercial and operational capabilities; and the ability to expand Telesat’s existing satellite utilization. The foregoing list of important factors is not exhaustive. Investors should review the other risk factors discussed in Telesat’s annual report on Form 20-F for the year ended December 31, 2025, that was filed on March 17, 2026, and subsequent reports on Form 6-K, including the Form 6-K that was filed on October 29, 2026 with the United States Securities and Exchange Commission (SEC) and with Canadian securities regulatory authorities at the System for Electronic Document Analysis and Retrieval + (SEDAR+), and may be accessed on the SEC’s website at www.sec.gov and SEDAR+’s website at www.sedarplus.ca.

Telesat Corporation Unaudited Interim Condensed Consolidated Statements of Loss For the periods ended September 30,
			Three months								Nine months
(in thousands of Canadian dollars, except per share amounts)				2026				2025				2026				2025
Revenue			$	80,631			$	101,060			$	247,184			$	323,915
Operating expenses				(73,752	)			(57,852	)			(190,816	)			(161,450	)
Depreciation				(22,574	)			(26,168	)			(66,768	)			(77,991	)
Amortization				(8,766	)			(11,314	)			(26,106	)			(33,852	)
Other operating (losses) gains, net				(27	)			251				(82,081	)			4,070
Operating (loss) income				(24,488	)			5,977				(118,587	)			54,692
Interest expense				(54,820	)			(54,197	)			(155,224	)			(164,492	)
Gain on repurchase of debt				—				—				—				6,896
Interest and other income				4,962				5,718				10,975				18,760
Loss on changes in fair value of financial instruments				(89,510	)			(63,120	)			(577,256	)			(109,780	)
Gain (loss) on foreign exchange				3,179				(32,282	)			(34,027	)			84,808
Loss before income tax				(160,677	)			(137,904	)			(874,119	)			(109,116	)
Tax recovery				3,455				16,821				7,398				12,105
Net loss			$	(157,222	)		$	(121,083	)		$	(866,721	)		$	(97,011	)
Net loss attributable to:
Telesat Corporation shareholders			$	(47,018	)		$	(35,269	)		$	(258,295	)		$	(29,811	)
Non-controlling interest				(110,204	)			(85,814	)			(608,426	)			(67,200	)
			$	(157,222	)		$	(121,083	)		$	(866,721	)		$	(97,011	)
Net loss per common share attributable to Telesat Corporation Shareholders
Basic			$	(3.09	)		$	(2.38	)		$	(17.27	)		$	(2.04	)
Diluted			$	(3.09	)		$	(2.38	)		$	(17.27	)		$	(2.04	)
Total Weighted Average Common Shares Outstanding
Basic				15,202,449				14,797,243				14,957,942				14,592,627
Diluted				15,202,449				14,797,243				14,957,942				14,592,627

Telesat Corporation Unaudited Interim Condensed Consolidated Balance Sheets
(in thousands of Canadian dollars)			September 30, 2026			December 31, 2025
ASSETS
Cash and cash equivalents			$	813,825		$	509,798
Trade and other receivables				48,725			58,422
Other current financial assets				550			430
Current income tax recoverable				20,980			5,952
Prepaid expenses and other current assets				241,684			257,456
Total current assets				1,125,764			832,058
Satellites, property and other equipment				3,403,965			2,716,708
Deferred tax assets				5,796			4,231
Other long-term financial assets				20,427			18,283
Long-term income tax recoverable				2,859			6,993
Other long-term assets				322,666			368,657
Intangible assets				420,340			442,278
Goodwill				2,204,133			2,214,575
Total assets			$	7,505,950		$	6,603,783
LIABILITIES
Trade and other payables			$	70,804		$	57,447
Other current financial liabilities				1,449,939			857,637
Income taxes payable				158			2,772
Other current liabilities				46,683			58,431
Current indebtedness				2,750,299			2,341,145
Total current liabilities				4,317,883			3,317,432
Long-term indebtedness				1,306,912			1,152,462
Deferred tax liabilities				60,612			91,991
Other long-term financial liabilities				9,002			10,091
Other long-term liabilities				771,165			262,211
Total liabilities				6,465,574			4,834,187
SHAREHOLDERS’ EQUITY
Share capital				93,211			69,997
Accumulated earnings				71,262			330,814
Reserves				174,446			130,009
Total Telesat Corporation shareholders’ equity				338,919			530,820
Non-controlling interest				701,457			1,238,776
Total shareholders’ equity				1,040,376			1,769,596
Total liabilities and shareholders’ equity			$	7,505,950		$	6,603,783

Telesat Corporation Unaudited Interim Condensed Consolidated Statements of Cash Flows For the nine months ended September 30,
(in thousands of Canadian dollars)			2026				2025
Cash flows from operating activities
Net loss		$	(866,721	)		$	(97,011	)
Adjustments to reconcile net loss to cash flows from operating activities:
Depreciation			66,768				77,991
Amortization			26,106				33,852
Tax recovery			(7,398	)			(12,105	)
Interest expense			155,224				164,492
Interest income			(13,342	)			(19,070	)
Loss (gain) on foreign exchange			34,027				(84,808	)
Loss on changes in fair value of financial instruments			577,256				109,780
Share-based compensation			11,749				8,610
Loss (gain) on disposal of assets			22				(3,840	)
Gain on disposal of subsidiaries			—				(230	)
Gain on repurchase of debt			—				(6,896	)
Impairment			84,469				—
Deferred revenue amortization			(34,431	)			(46,124	)
Pension expense			3,377				4,089
Other			3,880				7,424
Income taxes paid, net of income tax received			(20,469	)			8,264
Interest paid, net of interest received			(115,401	)			(122,749	)
Government grant received			5,905				—
Customer prepayments on future satellite services			509,624				—
Operating assets and liabilities			(15,741	)			75,241
Net cash from operating activities			404,904				96,910
Cash flows used in investing activities
Cash payments related to satellite programs			(428,665	)			(444,391	)
Cash payments related to property and other equipment			(152,432	)			(100,278	)
Net proceeds from disposal of assets			—				4,519
Net proceeds from disposal of subsidiaries			—				235
Government grant received			3,022				—
Investment acquisition			(2,584	)			—
Net cash used in investing activities			(580,659	)			(539,915	)
Cash flows generated from financing activities
Proceeds from indebtedness			497,325				404,996
Repurchase of indebtedness			—				(4,501	)
Payment of debt issue costs			(15,171	)			—
Payments of principal on lease liabilities			(2,141	)			(2,175	)
Satellite performance incentive payments			(2,500	)			(1,400	)
Proceeds from exercise of stock options			1,334				—
Tax withholdings on settlement of restricted and performance share units and exercise of stock options			(14,795	)			(8,445	)
Net cash generated from financing activities			464,052				388,475
Effect of changes in exchange rates on cash and cash equivalents			15,730				(14,929	)
Changes in cash and cash equivalents			304,027				(69,459	)
Cash and cash equivalents, beginning of period			509,798				552,064
Cash and cash equivalents, end of period		$	813,825			$	482,605

Telesat’s Adjusted EBITDA Margin⁽¹⁾:

The following table provides a quantitative reconciliation of net income to Adjusted EBITDA and Adjusted EBITDA margin, each of which are non-IFRS Accounting Standards measures.

			Three months ended September 30,								Nine months ended September 30,
(in thousands of Canadian dollars) (unaudited)				2026				2025				2026				2025
Net loss			$	(157,222	)		$	(121,083	)		$	(866,721	)		$	(97,011	)
Tax recovery				(3,455	)			(16,821	)			(7,398	)			(12,105	)
(Gain) loss on foreign exchange				(3,179	)			32,282				34,027				(84,808	)
Loss on changes in fair value of financial instruments				89,510				63,120				577,256				109,780
Interest and other income				(4,962	)			(5,718	)			(10,975	)			(18,760	)
Interest expense				54,820				54,197				155,224				164,492
Gain on repurchase of debt				—				—				—				(6,896	)
Depreciation				22,574				26,168				66,768				77,991
Amortization				8,766				11,314				26,106				33,852
Other operating (gains) losses, net				27				(251	)			82,081				(4,070	)
Non-recurring compensation expenses(1)				415				614				1,221				1,836
Non-cash expense related to share-based compensation				4,810				3,018				11,749				8,610
Adjusted EBITDA			$	12,104			$	46,840			$	69,338			$	172,911
Revenue			$	80,631			$	101,060			$	247,184			$	323,915
Adjusted EBITDA Margin				15.0	%			46.3	%			28.1	%			53.4	%

End Notes

¹        Non-IFRS Accounting Standards Measures – Adjusted EBITDA and Adjusted EBITDA margin are non-IFRS Accounting Standards measures. EBITDA is defined as “Earnings Before Interest, Taxes, Depreciation and Amortization.” Adjusted EBITDA is used to measure Telesat’s financial performance. Adjusted EBITDA is defined as operating income (less certain operating expenses such as share-based compensation expenses and unusual and non-recurring items, including restructuring related expenses) before interest expense, taxes, depreciation and amortization. Adjusted EBITDA margin is used to measure Telesat’s operating performance. Adjusted EBITDA margin is defined as the ratio of Adjusted EBITDA to revenue.

Adjusted EBITDA and Adjusted EBITDA margin are not standardized financial measures under IFRS Accounting Standards and might not be comparable to similar financial measures disclosed by other issuers. Adjusted EBITDA allows investors and Telesat to compare Telesat’s operating results with that of competitors exclusive of depreciation and amortization, interest and investment income, interest expense, taxes and certain other expenses. Financial results of competitors in the satellite services industry have significant variations that can result from timing of capital expenditures, the amount of intangible assets recorded, the differences in assets’ lives, the timing and amount of investments, the effects of other income (expense), and unusual and non-recurring items. The use of Adjusted EBITDA assists investors and Telesat to compare operating results exclusive of these items. Competitors in the satellite services industry have significantly different capital structures. Telesat believes that the use of Adjusted EBITDA improves comparability of performance by excluding interest expense.

Telesat believes that the use of Adjusted EBITDA and the Adjusted EBITDA margin along with IFRS Accounting Standards measures enhances the understanding of our operating results and is useful to investors and us in comparing performance with competitors, estimating enterprise value and making investment decisions. Adjusted EBITDA and Adjusted EBITDA margin as used here may not be the same as similarly titled measures reported by competitors. Adjusted EBITDA and Adjusted EBITDA margin should be used in conjunction with IFRS Accounting Standards measures and are not presented as a substitute for cash flows from operations as a measure of our liquidity or as a substitute for net income (loss) as an indicator of our operating performance.

²        Telesat’s backlog represents future revenue expected to be recognized from existing enforceable contracts and other arrangements. As of September 30, 2026, GEO backlog was $0.8 billion and LEO backlog was $5.6 billion.

³         Includes severance payments and special compensation and benefits for executives and employees.

MONTRÉAL, Oct. 29, 2026 (GLOBE NEWSWIRE) — Boralex Inc. (“Boralex” or the “Company”) is pleased to announce the acquisition of Wind2 in the United Kingdom, a platform that has developed approximately 350 MW of well advanced wind projects across Scotland, England and Wales. The transaction also includes the integration of the Wind2 teams based in its two UK offices, significantly strengthening Boralex’s UK presence and capabilities.

“First of all, I would like to welcome the Wind2 teams to Boralex, and look forward to working together. This acquisition is fully aligned with our growth strategy in the United Kingdom, a market that offers significant expansion potential for Boralex. In addition to a high-quality project portfolio, we found in Wind2 an organization that shares our culture and our vision for project development, built on close collaboration with host communities to support energy security and the decarbonization of British economy,” said Jean-Christophe Dall’Ava, Executive Vice President and General Manager, Europe.

“Wind2 strengthens our development platform in the United Kingdom with well-advanced and ready-to-build projects, while expanding and diversifying our activities across the country. Our new team members bring strong expertise that complements our own, together with an approach to project development that is closely aligned with Boralex’s. Together, we will be better positioned to accelerate our growth and strengthen our presence in the United Kingdom,” said Esbjorn Wilmar, Vice President, United Kingdom.

Founded in 2016, Wind2 is a UK-based renewable energy developer specializing in onshore renewable energy projects. Its teams are active across Scotland, Wales and various regions of England, where they primarily develop onshore wind projects as well as solar farms and energy parks.

Geraint Jewson, Chairman and co-founder of Wind2, said “I am hugely proud of what the Wind2 team has achieved in just 10 years. As we hand over the baton to Boralex, I believe this is the right time for Wind2 to take the next step in their development and continue contributing to the UK’s transition to renewable energy. The Boralex values align with those of Wind2, and as such, I believe it is the right company to support the future of the Wind2 team.”

Sarah Smith, Managing Director commented, “This is a pivotal milestone for Wind2 at it seeks to build out its advanced portfolio. Having been with the company since its inception, I see this transition to Boralex as a testament to the strength of the team we have built over the past 10-years and all the excellent work that has brought us to this point. The team and I are looking forward to the next chapter with Boralex, and the opportunities that it will bring.”

The United Kingdom, a key market for Boralex’s growth

Boralex’s development in the United Kingdom is part of its strategy to further diversify its geographic footprint and strengthen the resilience of its business. Complementing its established markets in North America and France, the UK market contributes to Boralex’s growth and diversification objectives. Active in the United Kingdom for nearly 10 years, Boralex reached an important milestone in April 2025 with the commissioning of Limekiln Wind Farm, with an installed capacity of 106 MW. The company is currently building two wind and energy storage assets totaling 73 MW of installed capacity and has a development pipeline of 1.7 GW.

Wind2 was supported by Knight Frank Capital Advisory during the transaction.

Caution Regarding Forward-Looking Statements 

Some of the statements contained in this press release are forward-looking statements based on current expectations, within the meaning of securities legislation. Boralex would like to point out that, by their very nature, forward-looking statements involve risks and uncertainties such that its results or the measure it adopts could differ materially from those indicated by or underlying these statements, or could have an impact on the degree of realisation of a particular forward-looking statement. Unless otherwise specified by the Company, the forward-looking statements do not take into account the possible impact on its activities, transactions, non-recurring items or other exceptional items announced or occurring after the statements are made. There can be no assurance as to the materialisation of the results, performance or achievements as expressed or implied by forward-looking statements. The reader is cautioned not to place undue reliance on such forward-looking statements. Unless required to do so under applicable securities legislation, Boralex management does not assume any obligation to update or revise forward-looking statements to reflect new information, future events or other changes.

About Boralex

At Boralex, a Brookfield portfolio company, we have been providing affordable renewable energy accessible to everyone for over 35 years. As a leader in the Canadian market and France’s largest independent producer of onshore wind power, we also have facilities in the United States and in the United Kingdom. Over the past five years, our installed capacity has increased by more than 50%, reaching 3,822 MW. We are developing a portfolio of projects in development and Growth path of nearly 8.2 GW in wind, solar and BESS projects, guided by our values and our corporate social responsibility (CSR) approach. Boralex is actively participating in the fight against global warming. Thanks to our fearlessness, our discipline, our expertise and our diversity, we continue to be an industry leader.

For more information, visit boralex.com. Follow us on Facebook and LinkedIn.

For more information

Media – Boralex (Global)	Investor Relations
Camille Laventure Senior Advisor, Public Affairs and External Communications Boralex Inc. 438 883-8580 camille.laventure@boralex.com	Stephane Milot Vice-President, Investor Relations Boralex Inc. 514 213 1045 stephane.milot@boralex.com
Media – Boralex (United Kingdom)
Lesley McNeil Head of Marketing, Public Affairs & Communications Boralex Inc. +44 73 53 11 26 67 lesley.mcneil@boralex.com

Source: Boralex Inc.

MATTOON, Ill. and WELLSVILLE, Mo., Oct. 29, 2026 (GLOBE NEWSWIRE) — First Mid Bancshares, Inc. (NASDAQ: FMBH) (“First Mid”) and Evergreen Bancshares, Inc. (“Evergreen”), the parent company of American Bank of Freedom, announced the execution of a definitive agreement dated October 28, 2026 under which Evergreen will merge with First Mid in a stock and cash transaction, strengthening First Mid’s presence in St. Louis and along the I-70 corridor, expanding its Illinois franchise through Rochester, and establishing a full-service banking presence in the greater Indianapolis market.

American Bank of Freedom is headquartered in Wellsville, Missouri and operates 10 banking centers, including locations throughout the St. Louis metropolitan area and I-70 corridor, as well as banking centers in Rochester, Illinois and Westfield, Indiana. American Bank of Freedom also operates a loan production office in the Denver, Colorado area. As of September 30, 2026, American Bank of Freedom had approximately $932 million in total assets, $712 million in loans and $727 million in deposits. American Bank of Freedom traces its roots to 1880 and has a long history of relationship-driven community banking.

Under the terms of the agreement, First Mid will acquire 100% of the outstanding shares of Evergreen. Evergreen shareholders will receive 0.4081 shares of FMBH common stock plus $5.20 in cash for each share of Evergreen common stock. Based on First Mid’s closing price per share of $51.01 on October 27, 2026, the aggregate consideration to be paid by First Mid is approximately $70.7 million, subject to certain conditions and adjustments. The transaction is expected to be approximately 80% stock and 20% cash based on First Mid’s stock price at announcement.

The transaction is estimated to be approximately 5.0% accretive to earnings per share in 2028⁽¹⁾, inclusive of the anticipated impact from crossing $10 billion in assets. Estimated tangible book value per share dilution to First Mid is expected to be approximately 0.5%, with an earnback period of approximately 0.5 years⁽²⁾. First Mid expects to achieve cost savings of approximately 33% of Evergreen’s noninterest expense, in addition to approximately $0.9 million of annual pre-tax savings from branch consolidation. First Mid expects to maintain a strong capital position following the transaction, with a pro forma CET1 ratio of approximately 13.6%.

“We are excited to welcome American Bank of Freedom’s employees, customers and shareholders to First Mid,” said Matthew Smith, President and Chief Executive Officer of First Mid. “We have known the organization and its leadership for many years, and we are honored to have been selected as their strategic partner. This transaction strengthens our presence in St. Louis and along the I-70 corridor, expands our Illinois franchise through Rochester, and establishes a full-service banking presence in the greater Indianapolis market. American Bank of Freedom has a long history of relationship-driven community banking and a strong commitment to its customers and communities, which aligns well with First Mid.”

“This is also an important step for First Mid as we continue to build scale and prepare our organization for growth above $10 billion in assets,” Smith continued. “We have made significant investments in our people, technology, risk management and operating infrastructure, and we believe the additional earnings and synergies from this transaction more than offset the incremental financial impact of operating above the $10 billion threshold while positively positioning First Mid for future opportunities.”

“We are pleased to partner with an organization that shares our commitment to community banking and strong customer relationships,” said Timothy Nash, President and Chief Executive Officer of American Bank of Freedom. “First Mid brings additional scale, capabilities and resources while maintaining the community-focused approach that has been important to American Bank of Freedom throughout our history. We believe this combination will create additional opportunities for our customers, employees and communities.”

Following completion of the transaction, American Bank of Freedom customers will have access to First Mid’s broader range of financial services, including wealth management, brokerage, agricultural services, treasury management and insurance, as well as increased lending capacity and a larger banking network.

The transaction has been unanimously approved by each company’s board of directors and is expected to close in the first quarter of 2027, subject to regulatory approvals, the approval of Evergreen’s shareholders and the satisfaction of customary closing conditions. The companies expect to complete the bank merger and systems conversion in the second quarter of 2027.

Stephens Inc. served as exclusive financial advisor to First Mid. ArentFox Schiff LLP served as legal advisor to First Mid. Keefe, Bruyette & Woods, A Stifel Company, served as exclusive financial advisor to Evergreen. Husch Blackwell served as legal advisor to Evergreen.

A slide presentation relating to the transaction can be accessed under the investor relations section of First Mid’s website at www.firstmid.com. In addition, the presentation is included as an exhibit to the Form 8-K filed with the Securities and Exchange Commission announcing the transaction.

About First Mid Bancshares, Inc.: First Mid Bancshares, Inc. (“First Mid”) is the parent company of First Mid Bank & Trust, N.A., First Mid Insurance Group, Inc., and First Mid Wealth Management Co. First Mid is a $9.4 billion community-focused organization that provides a full suite of financial services including banking, wealth management, brokerage, Ag services and insurance through a sizeable network of locations throughout Illinois, Iowa, Missouri, Texas and Wisconsin, and a loan production office in the greater Indianapolis area. Together, our First Mid team takes great pride in providing solutions and services to our customers and communities and has done so for more than 160 years. More information about the Company is available at www.firstmid.com.

About Evergreen Bancshares, Inc.: Evergreen Bancshares, Inc. is the parent company of American Bank of Freedom. Founded in 1880, American Bank of Freedom is a community bank headquartered in Wellsville, Missouri, with 10 banking centers serving communities throughout Missouri, Illinois and Indiana, as well as a loan production office in the Denver, Colorado area.

Forward Looking Statements
This document may contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 regarding First Mid Bancshares, Inc. (“First Mid”), Evergreen Bancshares, Inc. (“Evergreen”) and the proposed transactions, including statements regarding anticipated benefits, integration, timing, approvals, customer relationships, operating results, expenses, market conditions, credit quality, liquidity, loan and deposit activity, and other expectations regarding the combined business. First Mid intends for these forward-looking statements to be covered by the safe harbor provisions for forward-looking statements contained in the Private Securities Litigation Reform Act of 1995. Forward-looking statements, which are based on certain assumptions and describe future plans, strategies and expectations, are identified by use of the words “believe,” “expect,” “intend,” “anticipate,” “estimate,” “project,” “will,” “may,” “should,” or similar expressions. Actual results could differ materially from the results indicated by these statements because the realization of those results is subject to many risks and uncertainties, including, among other things, the possibility that the anticipated benefits of the proposed transactions will not be realized within the expected time period; the risk that integration of Evergreen with First Mid will be materially delayed or will be more costly or difficult than expected; the inability to complete the proposed transactions due to the failure to satisfy conditions to completion of the proposed transactions, including failure to obtain required regulatory, shareholder and other approvals; the failure of the proposed transactions to close for any other reason; the effect of the announcement of the proposed transactions on customer relationships and operating results; the possibility that the proposed transactions may be more expensive to complete than anticipated; changes in interest rates; general economic conditions and market-area conditions; legislative and/or regulatory changes; risks relating to Evergreen as a privately held company whose business and financial information has not been subject to public company reporting requirements; monetary and fiscal policies of the U.S. Government, including policies of the U.S. Treasury and the Federal Reserve Board; the quality, composition and valuation of loan and investment portfolios; demand for loan products; deposit flows; competition; demand for financial services; accounting principles, policies and guidelines; and the ability to complete the proposed transactions or any of the foregoing risks. Additional information concerning First Mid, including additional factors and risks that could materially affect First Mid’s financial results, is included in First Mid’s filings with the SEC, including its Annual Reports on Form 10-K and Quarterly Reports on Form 10-Q. Forward-looking statements speak only as of the date they are made. Except as required under the federal securities laws or the rules and regulations of the SEC, First Mid does not undertake any obligation to update, revise or review any forward-looking information, whether as a result of new information, future events or otherwise.

Important Information about the Merger and Additional Information
First Mid will file a registration statement on Form S-4 with the SEC in connection with the proposed transaction. The registration statement will include a proxy statement of Evergreen that also constitutes a prospectus of First Mid, which will be sent to the shareholders of Evergreen. Evergreen shareholders are urged to read the proxy statement/prospectus when it becomes available, which will contain important information about First Mid, Evergreen and the proposed transactions, including detailed risk factors. The proxy statement/prospectus and other documents which will be filed by First Mid with the SEC will be available free of charge at the SEC’s website, www.sec.gov. These documents also can be obtained free of charge by accessing First Mid’s website at www.firstmid.com under the tab “Investor Relations” and then under “SEC Filings.” Alternatively, when available, these documents can be obtained free of charge from First Mid upon written request to First Mid Bancshares, PO Box 499, Mattoon, IL 61938, Attention: Investor Relations; or from Evergreen upon written request to Evergreen Bancshares, Inc., 1701 Macklind Avenue, St. Louis, MO 63110, Attention: Chief Financial Officer. A final proxy statement/prospectus will be mailed to the shareholders of Evergreen.

Participants in the Solicitation
First Mid and Evergreen, and certain of their respective directors, executive officers, and other members of management and employees, are participants in the solicitation of proxies in connection with the proposed transactions. Information about the directors and executive officers of First Mid is set forth in the proxy statement for its 2026 annual meeting of stockholders, which was filed with the SEC on March 17, 2026. This document can be obtained free of charge from the sources provided above. Information about Evergreen’s directors and executive officers, and a description of their direct and indirect interests in the proposed transactions, by security holdings or otherwise, will be included in the proxy statement/prospectus when it becomes available. Investors may obtain additional information regarding the interests of such participants in the proposed transactions by reading the proxy statement/prospectus for such proposed transactions when it becomes available.

No Offer or Solicitation
This communication shall not constitute an offer to sell or the solicitation of an offer to buy securities, nor shall there be any sale of securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of such jurisdiction.

First Mid Investor Contact:
Austin Frank
SVP, Director of Investor Relations
217-258-5522
afrank@firstmid.com

Jordan Read
Chief Financial Officer and Chief Risk Officer
217-258-3528
jread@firstmid.com

Evergreen Investor Contact:
Melissa Springmeyer
EVP/Chief Operating Officer
636-745-3104
Mspringmeyer@myamericanbank.net

⁽¹⁾ Pro forma impact is presented for illustrative purposes only and is subject to change based on final purchase accounting entries. EPS accretion illustrated assuming no share buybacks, fully phased cost savings and excluding any restructuring charges or provision expense related to the CECL “double count”.
⁽²⁾ The tangible book value per share (“TBVPS”) earnback is calculated using the crossover method. See slide presentation for purchasing accounting summary.

KT-579 (IRF5) Phase 1 healthy volunteer data demonstrated deep, sustained IRF5 degradation, robust modulation of disease-relevant biomarkers and a favorable safety profile

KT-579 LUMORA Phase 1b trial in lupus patients planned to start by early 2027

Last patient completed last visit in KT-621 (STAT6) BROADEN2 Phase 2b AD trial, with topline data to be reported by year-end 2026

KT-621 BREADTH Phase 2b asthma trial ongoing, with topline data expected to be reported in late 2027

Well-capitalized with $1.6 billion in cash as of September 30, 2026, and runway into 2029

Company to hold video conference call and webcast today at 8:30 a.m. ET

WATERTOWN, Mass., Oct. 29, 2026 (GLOBE NEWSWIRE) — Kymera Therapeutics, Inc. (NASDAQ: KYMR), a clinical-stage biopharmaceutical company advancing a new class of oral small molecule degrader medicines for immunological diseases, today reported financial results for the third quarter ended September 30, 2026, and provided business highlights and updates on its pipeline.

“Kymera’s recent progress reinforces the opportunity across our portfolio and our ability to help shape a new era of differentiated oral medicines in immunology,” said Nello Mainolfi, PhD, Founder, President and CEO, Kymera Therapeutics. “With KT-621 and KT-579, we are advancing complementary immunoregulatory mechanisms that target distinct drivers of disease, with significant potential to address unmet needs across the current treatment landscape. The last patient has now completed their week 16 visit in our KT-621 BROADEN2 Phase 2b atopic dermatitis trial, and we plan to report topline data by year-end 2026. We also are planning to initiate our first Phase 3 AD trial by mid-2027, and report data from our BREADTH Phase 2b asthma trial in late 2027.”

Dr. Mainolfi continued, “The positive results from the Phase 1 healthy volunteer trial of KT-579, which we reported today, demonstrate strong translation of its preclinical pharmacology into humans and highlight its potential to modulate multiple core inflammatory pathways through a single oral mechanism. These findings exceed our expectations in terms of depth of degradation, safety and pathway suppression measured by downstream cytokines and gene transcripts. The results provide an important foundation as we advance KT-579, our 7^th degrader to enter the clinic, toward a study in lupus patients and explore the opportunity for targeting IRF5 in additional autoimmune diseases. Beyond these clinical programs, our research engine remains focused on unlocking novel biology and pursuing high value targets to build the next wave of oral medicines for patients who need effective, safe and convenient treatment options.”

Business Highlights, Recent Developments and Upcoming Milestones

STAT6 Degrader Program
KT-621 is an investigational, first-in-class, once daily, oral degrader of STAT6, the specific transcription factor responsible for IL-4/IL-13 signaling and the central driver of Type 2 inflammation. KT-621 is currently in Phase 2 clinical development in atopic dermatitis (AD) and asthma. KT-621 has the potential to transform treatment paradigms by offering a safe, effective, oral option for the more than 140 million patients worldwide living with Type 2 diseases, such as AD, asthma, chronic obstructive pulmonary disease (COPD), eosinophilic esophagitis (EoE), chronic rhinosinusitis with nasal polyps (CRSwNP), chronic spontaneous urticaria (CSU), prurigo nodularis (PN), and bullous pemphigoid (BP), among others.

• In October 2026, the last patient received their final dose and completed the week 16 visit in the KT-621 BROADEN2 Phase 2b clinical trial in patients with moderate to severe AD. The Company plans to report topline data by year-end 2026. Subject to discussions with regulators, the Company expects to initiate the first Phase 3 trial in AD by mid-2027.

• Enrollment is ongoing in the KT-621 BREADTH Phase 2b clinical trial in patients with moderate to severe eosinophilic asthma, with topline data expected to be reported in late 2027.

• In September 2026, the Company presented data from the KT-621 BroADen Phase 1b clinical trial in AD across leading dermatology and respiratory forums, including posters at the European Academy of Dermatology and Venereology (EADV) and European Respiratory Society (ERS) Congresses.

IRF5 Degrader Program
KT-579 is an investigational, first-in-class, oral degrader of IRF5, a genetically validated transcription factor and master regulator of immunity. KT-579 has the potential to modulate multiple core inflammatory pathways through a single oral mechanism, offering a differentiated approach to serious autoimmune diseases where effective and well-tolerated oral therapies are needed, such as lupus, inflammatory bowel disease (IBD), Sjögren’s, rheumatoid arthritis (RA) and others.

• The Company today announced positive results from the completed first-in-human KT-579 Phase 1 healthy volunteer trial. The results met or exceeded study objectives and established strong proof of mechanism:

• • Pharmacokinetics and pharmacodynamics: KT-579 demonstrated a favorable plasma pharmacokinetic profile. Exposure increased with dose following single and multiple doses. Robust, sustained IRF5 degradation was observed following a single oral dose in the single ascending dose (SAD) portion of the trial. In the multiple ascending dose portion (MAD), KT-579 demonstrated deep, sustained IRF5 degradation in blood, with ≥90% median degradation across multiple dose levels with saturation of degradation by dose level 3. Similar reductions in IRF5 levels were also observed in skin, demonstrating target degradation in tissue as well as blood.

• • Ex vivo-stimulated IRF5-dependent biomarkers: KT-579 showed robust suppression of disease-relevant blood biomarkers and significant downregulation of pathway gene transcripts, reflecting pharmacodynamic effects on the three immune pathways modulated by IRF5 including inflammatory cytokines, interferon (IFN) response, and B-cell biology. The inflammatory cytokine and IFN analysis using the median of all MAD dose cohorts showed inhibition of 88% of TNFα, 87% of IL-12/23p40, 94% of IL-1β, and 98% of IFNβ at Day 14. Gene-expression analyses also showed broad downregulation of inflammatory cytokine, interferon and B-cell associated genes, supporting the functional cytokine findings.

• • Safety and tolerability: The safety profile of KT-579 was comparable to placebo. There were no serious or severe adverse events (AEs) and no AEs leading to discontinuation. Very few mild treatment-related AEs were reported, and there was no dose-dependent pattern in treatment-emergent AEs. There were no clinically relevant changes in vital signs, laboratory tests or ECGs.

• The KT-579 LUMORA Phase 1b trial in lupus patients is planned to start by early 2027. LUMORA is a randomized, double-blind, placebo-controlled trial testing KT-579 in approximately 30 adult patients with systemic lupus erythematosus dosed over 16 weeks. The key aim of this biomarker study is to demonstrate that KT-579 can modulate underlying disease biology with a favorable safety and tolerability profile while exploring potential clinical benefits.

• The Company will present new preclinical data on KT-579 in an oral presentation at the American College of Rheumatology (ACR) Convergence conference, taking place November 6-11, 2026, in Orlando, FL. The presentation will highlight KT-579’s compelling profile, including significant activity both as a monotherapy and in combination with background therapies in preclinical lupus models.

Partnered Programs & Research

• The first-in-human Phase 1 clinical trial evaluating KT-485 (SAR447971) in healthy volunteers and hidradenitis suppurativa patients is ongoing. Under the collaboration, Sanofi is leading development, regulatory and commercial efforts for the program. KT-485 is a potent, selective, oral second-generation IRAK4 degrader with the potential to offer a novel approach for a range of chronic immuno-inflammatory diseases.

• Gilead Sciences is advancing KT-200 in IND-enabling studies to support an IND filing in 2027. KT-200 is a first-in-class, oral CDK2 molecular glue degrader development candidate discovered and characterized by Kymera and exclusively licensed to Gilead. KT-200 has the potential to improve the standard of care for patients with breast cancer and other solid tumors.

• Leveraging its unique target selection strategy, proven small molecule discovery capabilities, and deep development expertise, the Company continues to advance an early pipeline of novel oral programs with a goal to deliver at least one new development candidate per year.

Corporate

• In July 2026, the Company appointed Terence Rooney, MD, as Chief Medical Officer and Elizabeth Laws, PhD, as Senior Vice President, Global STAT6 Development Program Leader, strengthening its clinical development leadership to support the continued advancement of Kymera’s oral immunology portfolio.

Financial Results

Collaboration Revenues: There were no collaboration revenues for the third quarter of 2026 compared to $2.8 million for the third quarter of 2025. Collaboration revenues recognized in the third quarter of 2025 were all attributable to the Company’s collaboration with Gilead. The Company does not expect to recognize additional collaboration revenue in 2026.

Research and Development Expenses: Research and development expenses were $128.5 million for the third quarter of 2026 compared to $74.1 million for the third quarter of 2025. This increase was primarily due to increased expenses related to the investment in the Company’s STAT6 program, platform and discovery programs, as well as costs related to continued growth in the research and development organization. Stock based compensation expenses included in R&D were $10.9 million and $8.4 million for the third quarters of 2026 and 2025, respectively.

General and Administrative Expenses: General and administrative expenses were $18.7 million for the third quarter of 2026 compared to $17.3 million for the third quarter of 2025. The increase was primarily due to an increase in legal and professional service fees in support of the Company’s growth and an increase in personnel, facility, occupancy, and other expenses to support growth as a public company. Stock based compensation expenses included in G&A were $7.9 million and $7.4 million for the third quarters of 2026 and 2025, respectively.

Net Loss: Net loss was $132.0 million for the third quarter of 2026 compared to $82.2 million for the third quarter of 2025.

Cash and Cash Equivalents: As of September 30, 2026, Kymera had $1.6 billion in cash, cash equivalents and investments. Kymera expects that its cash balance will provide the Company with a cash runway into 2029 beyond multiple clinical inflection points in its pipeline.

Event Details

Kymera will host a video conference call today, October 29, 2026, at 8:30 a.m. ET. To join the call please use this link to register. A live webcast of the event will be available under News and Events in the Investors section of the Company’s website at www.kymeratx.com. A replay of the webcast will be archived and available following the event.

About Kymera Therapeutics
Kymera is a clinical-stage biotechnology company pioneering the field of targeted protein degradation (TPD) to develop medicines that address critical health problems and have the potential to dramatically improve patients’ lives. Kymera is deploying TPD to address disease targets and pathways inaccessible with conventional therapeutics. Having advanced the first degrader into the clinic for immunological diseases, Kymera is focused on building an industry-leading pipeline of oral small molecule degraders to provide a new generation of convenient, highly effective therapies for patients with these conditions. Founded in 2016, Kymera has been recognized as one of Boston’s top workplaces for the past several years. For more information about our science, pipeline and people, please visit www.kymeratx.com or follow us on X or LinkedIn.

Cautionary Note Regarding Forward-Looking Statements
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, as amended, including, without limitation, implied and express statements about our expectations regarding strategy, business plans and objectives on the development of our clinical and preclinical pipeline, including the therapeutic potential, clinical benefits and safety thereof, the KT-485/SAR447971 and KT-200 programs, and Kymera’s financial condition and expected cash runway into 2029. The words “may,” “might,” “will,” “could,” “would,” “should,” “expect,” “plan,” “anticipate,” “intend,” “believe,” “estimate,” “seek,” “predict,” “future,” “project,” “potential,” “continue,” “target,” “upcoming” and similar words or expressions are intended to identify forward-looking statements, although not all forward-looking statements contain these identifying words. Any forward-looking statements in this press release are based on management’s current expectations and beliefs and are subject to a number of risks, uncertainties and important factors that may cause actual events or results to differ materially from any forward-looking statements contained in this press release, including, without limitation, risks associated with: the risk that preclinical and clinical data, including the results from the Phase 1 trials of KT-621 and KT-579, are not predictive of, may be inconsistent with, or more favorable than, data generated from future or ongoing clinical trials of the same product candidate, uncertainties inherent in the initiation, timing and design of future clinical trials, the availability and timing of data from ongoing and future clinical trials and the results of such trials, the ability to successfully demonstrate the safety and efficacy of drug candidates, the timing and outcome of planned interactions with and submissions to regulatory authorities, the availability of funding sufficient for our operating expenses and capital expenditure requirements, the unexpected emergence of adverse events or other undesirable side effects during preclinical and clinical development, and other factors. These risks and uncertainties are described in greater detail in the section entitled “Risk Factors” in the most recent Quarterly Report on Form 10-Q and in subsequent filings with the SEC. In addition, any forward-looking statements represent our views only as of today and should not be relied upon as representing our views as of any subsequent date. We explicitly disclaim any obligation to update any forward-looking statements. No representations or warranties (expressed or implied) are made about the accuracy of any such forward-looking statements.

KYMERA THERAPEUTICS, INC. Consolidated Balance Sheets (In thousands, except share and per share amounts) (Unaudited)
	September 30, 2026			December 31, 2025
Assets
Cash, cash equivalents and marketable securities	$	1,645,883		$	1,619,434
Property and equipment, net		38,242			43,175
Right-of-use assets, operating lease		40,444			42,351
Other assets		42,700			37,852
Total assets	$	1,767,269		$	1,742,812
Liabilities and Stockholders’ Equity
Accrued expenses	$	63,315		$	42,274
Operating lease liabilities		74,626			78,975
Other liabilities		14,801			41,899
Total liabilities		152,742			163,148
Total stockholders’ equity		1,614,527			1,579,664
Total liabilities, preferred stock and stockholders’ equity	$	1,767,269		$	1,742,812

KYMERA THERAPEUTICS, INC. Consolidated Statements of Operations and Comprehensive Loss (In thousands, except share and per share amounts) (Unaudited)
	Three Months Ended September 30,								Nine Months Ended September 30,
	2026				2025				2026				2025
Collaboration Revenue	$	—			$	2,764			$	99,365			$	36,341
Operating expenses:
Research and development	$	128,509			$	74,094			$	346,152			$	232,737
General and administrative		18,723				17,336				60,207				51,252
Impairment of long-lived assets		—				3,855				—				3,855
Total operating expenses		147,232				95,285				406,359				287,844
Loss from operations		(147,232	)			(92,521	)			(306,994	)			(251,503	)
Other income (expense):
Interest and other income		15,295				10,444				44,753				27,413
Interest and other expense		(62	)			(98	)			(203	)			(280	)
Total other income		15,233				10,346				44,550				27,133
Net loss attributable to common stockholders	$	(131,999	)		$	(82,175	)		$	(262,444	)		$	(224,370	)
Net loss per share attributable to common stockholders, basic and diluted	$	(1.32	)		$	(0.94	)		$	(2.66	)		$	(2.71	)
Weighted average common stocks outstanding, basic and diluted		100,097,242				87,300,286				98,612,278				82,653,142

Investor Contact:
Justine Koenigsberg
investors@kymeratx.com
857-285-5300

Media Contact:
Matthew Henson
media@kymeratx.com
857-285-5300