Month: October 2026

Q3 2026 revenue and non-GAAP adjusted EPS* above the high end of our guidance ranges;
2027 outlook reflects accelerating revenue growth & non-GAAP adjusted operating margin* expansion

(All amounts in U.S. dollars)

TORONTO, Oct. 26, 2026 (GLOBE NEWSWIRE) — Celestica Inc.¹ (NYSE: CLS) (TSX: CLS), a global leader in data center infrastructure and advanced technology solutions, today announced its financial results for the third quarter ended September 30, 2026 (Q3 2026).

Q3 2026 Highlights

• Revenue: $5.83 billion, increased 83% compared to $3.19 billion for the third quarter of 2025 (Q3 2025).
• GAAP earnings from operations as a % of revenue: 7.9%, compared to 10.2% for Q3 2025.
• Adjusted operating margin (non-GAAP)*: 8.5%, compared to 7.6% for Q3 2025.
• GAAP earnings per share² (EPS): $3.26, compared to $2.31 for Q3 2025.
• Adjusted EPS² (non-GAAP)*: $3.30, compared to $1.58 for Q3 2025.
• Completed the previously announced public offering for aggregate gross proceeds of $3.45 billion.

“Celestica’s strong momentum continued in the third quarter, achieving revenue of $5.83 billion and adjusted EPS (non-GAAP)* of $3.30, up 83% and 109%, respectively,” said Rob Mionis, Chair of the Board and CEO of Celestica. “Our adjusted operating margin (non-GAAP)* of 8.5% represents another new high for the company, demonstrating the strength of our operational execution.”

“Driven by these strong results to date and a demand environment that continues to strengthen, we are pleased to increase our 2026 annual outlook. We now expect revenue to reach $21.0 billion and adjusted EPS (non-GAAP)* of $11.55, representing growth of 69% and 91%, respectively.”

“We are also pleased to provide our initial 2027 annual outlook, with revenue of $40.0 billion, up 90%, record adjusted operating margin (non-GAAP)* of 9.0% and adjusted EPS (non-GAAP)* of $21.50.”

“Celestica is well-positioned to continue to support leading hyperscalers and frontier AI labs through the ongoing AI infrastructure supercycle. The demand environment continues to be very robust, supporting our 2027 revenue outlook, with customer demand forecasts meaningfully higher for 2028.”

¹ Celestica has two operating and reportable segments: Connectivity & Cloud Solutions (CCS) and Advanced Technology Solutions (ATS). Effective Q3 2026, we renamed the two end markets within our CCS segment to better describe the nature of the products delivered in each end market. Specifically, our Communications end market was renamed Networking, and our Enterprise end market was renamed Compute & Storage. This name change does not impact our segment reporting structure, the composition of our reportable segments, or previously reported financial results for our segments and end markets. Our Compute & Storage end market continues to consist of Servers and Storage businesses. Our ATS segment consists of our ATS end market, and is comprised of our Aerospace and Defense, Industrial, HealthTech, and Capital Equipment businesses.
Segment performance is evaluated based on segment revenue, segment income, and segment margin (segment income as a percentage of segment revenue). See note 3 to our September 30, 2026 unaudited interim condensed consolidated financial statements (Q3 2026 Interim Financial Statements) for further detail.
² Per share information included in this press release is based on diluted shares outstanding unless otherwise noted.
* See Use of Non-GAAP Measures and Schedule 1 for, among other items, non-GAAP financial measures (and ratios) included in this press release, their definitions, uses, and a reconciliation of non-GAAP financial measures to the most directly comparable GAAP financial measures. Non-GAAP measures in this press release are denoted with an asterisk (*).

Fourth Quarter of 2026 (Q4 2026) Guidance

	Q4 2026 Guidance
Revenue (in billions)	$6.275 to $6.575
Adjusted operating margin (non-GAAP)*	8.7% at the mid-point of our revenue and adjusted EPS (non-GAAP) guidance ranges
Adjusted EPS (non-GAAP)*(1)	$3.37 to $3.57

(1)

Q4 2026 guidance excludes a negative $0.21 to $0.27 per share (pre-tax) aggregate impact on net earnings on a GAAP basis for employee stock-based compensation (SBC) expense, amortization of intangible assets (excluding computer software), and restructuring charges. Q4 2026 guidance assumes an adjusted effective tax rate (non-GAAP)* of approximately 20%.

2026 Annual Outlook Update

• Revenue of $21.0 billion (previous outlook $20.5 billion) ⁽¹⁾
• Adjusted EPS (non-GAAP)* of $11.55 (previous outlook $11.30) ⁽¹⁾
• Free cash flow (non-GAAP)* of $460 million (previous outlook $600 million) ⁽²⁾

Our previous adjusted operating margin (non-GAAP)* outlook of 8.4% remains unchanged.

(1)	The change of our 2026 annual outlook for revenue and adjusted EPS (non-GAAP)* is driven by our strong results in Q3 2026, as well as expected demand improvements for Q4 2026.
(2)	The change of our 2026 annual outlook for free cash flow (non-GAAP)* is primarily driven by targeted working capital investments to support the accelerating growth in 2027.

2027 Annual Outlook and Long-Term Demand Update

• Revenue of $40.0 billion
• Adjusted EPS (non-GAAP)* of $21.50 ⁽¹⁾
• Adjusted operating margin (non-GAAP)* of 9.0%
• Capital expenditures of between $1.5 billion and $2.0 billion

(1)	2027 guidance assumes an adjusted effective tax rate (non-GAAP)* of approximately 21%.

Our 2027 outlook anticipates acceleration in our revenue growth to 90%. We continue to pursue investment plans in support of anticipated multi-year growth, supported by 2028 customer demand forecasts that are meaningfully higher than our 2027 revenue outlook.

* See Use of Non-GAAP Measures and Schedule 1. For our Q4 2026 Guidance, 2026 Annual Outlook Update, and 2027 Annual Outlook and Long-Term Demand Update, we present certain forward-looking non-GAAP metrics. A reconciliation of such forward-looking non-GAAP measures to the most directly comparable GAAP measures on a forward-looking basis has not been provided because the items that we exclude from GAAP to calculate the comparable non-GAAP measure are dependent on future events that management is not able to reliably predict and are not part of our routine operating activities. We are unable to provide such a reconciliation without unreasonable effort due to the uncertainty and inherent difficulty in predicting the occurrence, the financial impact and the periods in which the adjustments may be recognized. The occurrence, timing and amount of any of the items excluded from GAAP to calculate non-GAAP could significantly impact our GAAP results.

Summary of Selected Q3 2026 Results

	Q3 2026 Actual				Q3 2026 Guidance(2)
Revenue (in billions)	$5.83				$5.25 to $5.55
GAAP earnings from operations as a % of revenue		7.9%			N/A
GAAP EPS (1)	$3.26				N/A
Adjusted operating margin (non-GAAP)*		8.5%			8.4% at the mid-point of our revenue and adjusted EPS (non-GAAP) guidance ranges
Adjusted EPS (non-GAAP)*	$3.30				$2.88 to $3.08

CCS segment revenue: $4.87 billion, increased 102% compared to Q3 2025; CCS segment margin: 8.9% compared to 8.3% for Q3 2025. Hardware Platform Solutions revenue of approximately $2.3 billion increased 70% compared to Q3 2025.

ATS segment revenue: $0.96 billion, increased 23% compared to Q3 2025; ATS segment margin: 6.6% compared to 5.5% for Q3 2025.

(1)	GAAP EPS of $3.26 for Q3 2026 included an aggregate charge of $0.26 per share (pre-tax) for employee SBC expense, amortization of intangible assets (excluding computer software), and restructuring charges (Q3 2025 — $0.25 per share (pre-tax)). See the tables in Schedule 1 and note 11 to the Q3 2026 Interim Financial Statements for per-item charges. This aggregate charge was below our previously communicated Q3 2026 anticipated range of $0.27 to $0.33 per share (pre-tax) for these items, primarily due to the increase in our weighted average number of shares outstanding resulting from our public offering of an aggregate of 11.1 million common shares completed on August 7, 2026.
	GAAP EPS included pre-tax impacts from our total return swap agreement of negative $0.03 and positive $0.71 per share for Q3 2026 and the first nine months of 2026, respectively. This compares to positive pre-tax impacts of $0.98 and $1.65 per share for Q3 2025 and the first nine months of 2025, respectively. See note 9 to our Q3 2026 Interim Financial Statements.
(2)	For Q3 2026, our revenue exceeded the high end of our guidance range due to higher than anticipated customer demand and strong operational execution. Stronger than anticipated operating leverage drove our adjusted operating margin (non-GAAP) to exceed the mid-point of our revenue and adjusted EPS (non-GAAP) guidance ranges, which, combined with the higher revenue, drove our adjusted EPS (non-GAAP) to exceed the high end of our guidance range. Our GAAP effective tax rate for Q3 2026 was 13%. Our adjusted effective tax rate (non-GAAP) for Q3 2026 was 18%, lower than our anticipated estimate of approximately 20%, primarily due to favorable profit mix and a discrete tax benefit.

Intention to Launch a New Normal Course Issuer Bid (NCIB)

We intend to file a notice of intention with the Toronto Stock Exchange (TSX) to commence a new NCIB in Q4 2026, after our current NCIB expires on November 2, 2026. If this notice is accepted by the TSX, we expect to be permitted to repurchase for cancellation, at our discretion during the twelve months following such acceptance, up to 2.5% of the “public float” (calculated in accordance with TSX rules) of our issued and outstanding common shares. Purchases under the new NCIB, if accepted by the TSX, will be conducted in the open market or as otherwise permitted, subject to applicable terms and limitations, and will be made through the facilities of the TSX and the New York Stock Exchange. We believe that a new NCIB is in the best interests of Celestica and our shareholders.

Q3 2026 Financial Results Conference Call and 2026 Investor and Analyst Day

Management will host its Q3 2026 financial results conference call and 2026 Investor and Analyst Day on October 27, 2026. The conference call start time is 8:00 a.m. Eastern Time (ET). The webcast can be accessed at www.celestica.com.

Use of Non-GAAP Measures

In addition to disclosing detailed operating results in accordance with GAAP, Celestica provides supplementary non-GAAP financial measures to consider in evaluating our operating performance. Management uses adjusted net earnings and other non-GAAP financial measures to assess operating performance, financial leverage and the effective use and allocation of resources; to provide more normalized period-to-period comparisons of operating results; to enhance investors’ understanding of the core operating results of Celestica’s business; and to set management incentive targets. We believe investors use both GAAP and non-GAAP financial measures to assess management’s decisions associated with our priorities and capital allocation, as well as to analyze how our business operates in, or responds to, macroeconomic trends or other events that impact our core operations. See Schedule 1 below.

About Celestica

Celestica is a technology leader dedicated to driving customer success and market advancements. With deep expertise in design, engineering, manufacturing, supply chain, and platform solutions, Celestica enables critical data center infrastructure for AI, cloud and hybrid cloud, and advances technologies in high-growth markets. With a talented team and a strategic global network, Celestica helps its customers achieve competitive advantages. For more information on Celestica, visit www.celestica.com. Our securities filings can be accessed at www.sedarplus.ca and www.sec.gov.

The information contained on or accessible through www.celestica.com is not incorporated by reference into, and does not form part of, this release.

Cautionary Note Regarding Forward-looking Statements

This press release contains forward-looking statements, including, without limitation, those related to: strengthening demand environment of our businesses, customer forecasts, accelerating revenue growth, our anticipated financial and/or operational results, guidance and outlook, including statements under the headings “Q3 2026 Highlights”, “Fourth Quarter of 2026 (Q4 2026) Guidance”, “2026 Annual Outlook Update”, “2027 Annual Outlook and Long-Term Demand Update” and “Intention to Launch a New Normal Course Issuer Bid (NCIB)”, and including statements with respect to timelines referenced therein, expected revenue growth in 2026, 2027, and 2028, anticipated multi-year growth, 2027 and 2028 customer demand forecasts, non-GAAP operating margin and non-GAAP adjusted EPS, anticipated operating leverage, anticipated capital expenditures, expected working capital investment, cash usage and free cash flow, the sufficiency of our liquidity, ROIC, our growth plans and anticipated capacity requirements for 2027 and 2028, the anticipated use of the net proceeds of our recent public offering, our intention to launch a new NCIB and its anticipated terms, developments related to new customer or program wins and pursuits (including in data center power infrastructure), timing of production ramps, anticipated economic conditions, industry and market trends and projections, underlying market growth rates, customer demand, prospects and opportunities, and strategic initiatives. Such forward-looking statements may, without limitation, be preceded by, followed by, or include words such as “believes,” “expects,” “anticipates,” “estimates,” “intends,” “plans,” “continues,” “projects,” “target,” “outlook,” “goal,” “guidance,” “potential,” “possible,” “contemplate,” “seek,” “demand forecasts,” or similar expressions, or may employ such future or conditional verbs as “may,” “might,” “will,” “could,” “should,” or “would,” or may otherwise be indicated as forward-looking statements by grammatical construction, phrasing or context. For those statements, we claim the protection of the safe harbor for forward-looking statements contained in the U.S. Private Securities Litigation Reform Act of 1995, where applicable, and for forward-looking information under applicable Canadian securities laws.

Forward-looking statements are provided to assist readers in understanding management’s current expectations and plans relating to the future. Forward-looking statements reflect our current estimates, beliefs and assumptions, which are based on management’s perception of historic trends, current conditions and expected future developments, as well as other factors it believes are appropriate in the circumstances, including certain assumptions about: revenue growth and earnings in 2026, 2027 and 2028 (including customer forecasts, continued strengthening of customer demand, close alignment with key customers on demand planning, sustained improvements in demand visibility, multi-year growth and continued strengthening of adjusted operating margins); our weighted average number of diluted shares outstanding and our adjusted effective tax rate in Q4 2026 and 2027 remaining generally consistent with current expectations; the amount and timing of our working capital investments; accelerating growth from our customer base, including our CCS customer base; demand levels across our businesses, including continued growth in demand from data center customers in 2026, 2027 and 2028; programs and production ramps, including multiple large new programs, occurring and progressing as anticipated in line with expected timelines, specifications, qualification requirements and production schedules, customer decisions, design changes, silicon and component availability, qualification outcomes, deployment timelines and priorities, constraints affecting data center development, construction, equipping or operation, and other technical, commercial, regulatory or supply-chain factors, and our expected role in such programs, including our 800G and 1.6T networking, and AI compute programs with data center customers; technology upgrade cycles; our ability to retain programs and customers; continuing operating leverage and improving mix; the impact of anticipated market conditions on our businesses; the reliability of third party market forecasts and customer indications of future demands and roadmaps, including with respect to data center infrastructure; continued advancement and commercialization of AI technologies and cloud computing; supporting sustained high levels of capital expenditure investments by leading hyperscaler, AI, and data center customers; our ability to develop new capabilities; scaling of our operations to meet the anticipated growth in customer demand; the successful recruitment and retention of skilled talent; capital investments proceeding as anticipated and phased in line with customer deployment schedules, including timely completion of construction and operationalization of assets, securing required materials, utilities, and equipment for our expansion plans; our ability to secure adequate component and materials supply; alignment of our capacity with our business demands; the economy; our customers; our suppliers; tax and interest rates; no material changes to tariffs, trade restrictions, customs administration, and any continuing or retaliatory tariff measures, compared to what are in effect as of October 26, 2026; that our customers will continue to retain liability for and we will continue to be able to recover substantially all costs from customers relating to product/component tariffs and countermeasures; no material changes in business activities resulting from current macroeconomic trends and uncertainties, including evolving global tariffs, trade negotiations, and geopolitical conflicts; no unforeseen adverse changes in regulatory environmental or government policies (including export controls, moratoriums and other AI-related measures); our ability to achieve our strategic goals; the availability of cash from operations, cash on hand (including the net proceeds of our recent public offering) and our credit facilities to fund planned capital investments and working capital requirements without the need for additional capital; the availability of capital resources for, and the permissibility under our credit facility of, repurchases of outstanding common shares under our current NCIB; acceptance of a new NCIB and compliance with applicable laws and regulations pertaining to NCIBs; as well as other market, financial and operational assumptions. Readers are cautioned that such information may not be appropriate for other purposes. Readers should not place undue reliance on such forward-looking information.

Forward-looking statements are not guarantees of future performance and are subject to known and unknown risks and uncertainties that could cause actual results to differ materially from those expressed or implied in such forward-looking statements, including, among others, risks related to: changing customer capacity roadmaps for 2026, 2027, 2028 and beyond; realization of the long-term demand outlook; customer and segment concentration; reduction in customer revenue; erosion in customer market competitiveness; changes in revenue mix and margins; our ability to achieve anticipated operating leverage; uncertain market, industry, political and economic conditions; changes in demand for, or regulatory requirements applicable to, our products and our customers’ products; customer requests to transfer manufacturing of products from one facility to another; changes to policies or legislation; operational challenges (including inventory management, supply chain constraints, and components, materials or supply shortages); volatility in energy and commodity prices; program ramps not progressing as anticipated; the cyclical nature and/or volatility of certain of our businesses; talent management and inefficient employee utilization, including recruiting, training and retaining sufficient qualified personnel in required jurisdictions and within required timeframes; our expansion plans or consolidation of our operations; planned capital expenditures to support anticipated growth in customer demand, and our ability to achieve anticipated returns on such investments; competition risk from evolving AI technologies, including lower-cost/open-source AI models; energy, power and water constraints in the data center ecosystem; evolving regulatory and government policies (including export controls, moratoriums and other AI-related measures) that increase our customers’ costs or restrict their AI activities; cash flow, revenue, and operating results; changes to working capital requirements and liquidity; tax and interest rates variability; technology and IT disruption; increasing legal, tax and regulatory complexity and uncertainty (including in relation to our or our customers’ businesses); integrating and achieving the anticipated benefits from acquisitions; and the potential adverse impacts of events outside of our control.

For more exhaustive information on the foregoing and other material risks, uncertainties and assumptions, readers should refer to our public filings at www.sedarplus.ca and www.sec.gov, including in our most recent Management’s Discussion and Analysis of Financial Condition and Results of Operations, Annual Report on Form 10-K, Quarterly Reports on Form 10-Q, Current Reports on Form 8-K and other documents filed with, or furnished to, the U.S. Securities and Exchange Commission, and the Canadian Securities Administrators, as applicable.

Forward-looking statements speak only as of the date on which they are made, and we disclaim any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as expressly required by applicable law.
  
All forward-looking statements attributable to us are expressly qualified by these cautionary statements.

Contacts:

Celestica Global Communications	Celestica Investor Relations
(416) 448-2200	(416) 448-2211
media@celestica.com	clsir@celestica.com

Schedule 1

Supplementary Non-GAAP Financial Measures

The non-GAAP financial measures included in this press release are: adjusted gross profit, adjusted selling, general and administrative expenses (SG&A), adjusted operating earnings (or adjusted EBIAT), adjusted net earnings, and each of the foregoing measures as a percentage of revenue, adjusted EPS, adjusted return on invested capital (ROIC), free cash flow, adjusted tax expense and adjusted effective tax rate.

We believe the non-GAAP financial measures herein enable investors to evaluate and compare our results from operations by excluding specific items that we do not consider to be reflective of our core operations, to evaluate cash resources that we generate from our business each period, to analyze operating results using the same measures our chief operating decision maker uses to measure performance, and to help compare our results with those of our competitors. In addition, management believes that the use of adjusted tax expense and adjusted effective tax rate provides additional transparency into the tax effects of our core operations, and is useful to management and investors for historical comparisons and forecasting. These non-GAAP financial measures reflect management’s belief that the excluded items are not indicative of our core operations.

Non-GAAP financial measures do not have any standardized meaning prescribed by GAAP and therefore may not be directly comparable to similar measures presented by other companies. Non-GAAP financial measures are not measures of performance under GAAP and should not be considered in isolation or as a substitute for any GAAP financial measure. Reconciliations of the non-GAAP financial measures to the most directly comparable GAAP financial measures are below.

We do not provide reconciliations for our forward-looking non-GAAP financial measures, as we are unable to reasonably estimate the items that we exclude from GAAP to calculate comparable non-GAAP measures without unreasonable effort. This is due to the inherent difficulty of forecasting the timing or financial impacts of various events that have not yet occurred, are out of our control and/or cannot be reasonably predicted, and that would impact the most directly comparable forward-looking GAAP financial measure. For these same reasons, we are unable to address the probable significance of the unavailable information. Forward-looking non-GAAP financial measures may vary materially from the corresponding GAAP financial measures.

Our non-GAAP financial measures are calculated by making the following adjustments (as applicable) to our GAAP financial measures:

Employee SBC expense, which represents the estimated fair value of stock options, restricted share units and performance share units granted to employees, is excluded because grant activities vary significantly from quarter-to-quarter in both quantity and fair value. We believe excluding this expense allows us to compare core operating results with those of our competitors, who also generally exclude employee SBC expense in assessing operating performance, and may have different granting patterns, equity awards and valuation assumptions.

Total return swap fair value adjustments (TRS FVAs) represent mark-to-market adjustments to our TRS Agreement, as the TRS Agreement is re-measured at fair value at each quarter end. We exclude the impact of these non-cash fair value adjustments (which reflect fluctuations in the market price of our common shares recorded in cost of sales and SG&A) from period to period as such fluctuations do not represent our ongoing operating performance. In addition, we believe that excluding these non-cash adjustments permits a helpful comparison of our core operating results to our competitors.

Amortization of intangible assets (excluding computer software) consists of non-cash charges for intangible assets that are impacted by the timing and magnitude of acquired businesses. Amortization of intangible assets varies among our competitors, and we believe that excluding these charges permits a helpful comparison of core operating results to our competitors who also generally exclude amortization charges in assessing operating performance.

Restructuring and Other Charges (Recoveries) consist of, when applicable: Restructuring Charges (Recoveries) (defined below); Transition Costs (Recoveries) (defined below); consulting, transaction and integration costs related to potential and completed acquisitions; where applicable, certain fair value adjustments of contingent consideration in connection with acquisitions; where applicable, legal settlements (recoveries); and where applicable, related costs pertaining to our transition to a U.S. domestic filer. We exclude these charges and recoveries because we believe that they are not directly related to ongoing operating results and do not reflect our expected future operating expenses after completion of the relevant actions. Our competitors may record similar items at different times, and we believe these exclusions permit a helpful comparison of our core operating results with those of our competitors who also generally exclude these items in assessing operating performance.

Restructuring Charges (Recoveries), consist of costs or recoveries relating to: employee severance, site closings and consolidations, accelerated depreciation of owned and leased property and equipment which are no longer used and are held for sale, and reductions in infrastructure.

Transition Costs (Recoveries) consist of costs and recoveries in connection with: (i) the transfer of manufacturing lines from closed sites to other sites within our global network; (ii) the sale of real properties unrelated to restructuring actions; and (iii) where applicable, specified charges or recoveries related to the sublet of a 10-year building lease in Toronto that we previously anticipated to be our corporate headquarters. Transition Costs consist of direct relocation and duplicate costs (such as rent expense, utility costs, depreciation charges, and personnel costs) incurred during the transition periods, as well as cease-use and other costs incurred in connection with idle or vacated portions of the relevant premises that we would not have incurred but for these relocations, transfers and dispositions. We believe that excluding Transition Costs and Recoveries permits a helpful comparison of our core operating results from period-to-period, as they do not reflect our ongoing operations once these specified events are complete.

Miscellaneous Expense (Income) consists primarily of: (i) certain net periodic benefit costs (gains) related to our pension and post-employment benefit plans consisting of interest costs, expected returns on plan balances, and amortization of actuarial gains or losses; (ii) where applicable, gains on insurance claims settlement; and (iii) where applicable, gains or losses related to interest rate swaps that we entered into prior to 2024. Those interest rate swap contracts were accounted for as cash flow hedges (qualifying for hedge accounting) under International Financial Reporting Standards. However, those contracts were not accounted for as such under GAAP until January 1, 2024. Certain gains and losses related to those contracts were recorded in Miscellaneous Expense (Income). We exclude such items because we believe they are not directly related to our ongoing operating results.

Tax effects of the non-core items, which include our non-GAAP adjustments above, are excluded from GAAP tax expense to calculate adjusted tax expense (non-GAAP), as we do not believe these costs or recoveries reflect our core operating performance and vary significantly among our competitors who also generally exclude such items in assessing operating performance.

Our non-GAAP financial measures include the following:

Adjusted operating earnings (Adjusted EBIAT) is defined as GAAP earnings from operations excluding the impact of Employee SBC expense, TRS FVAs, Amortization of intangible assets (excluding computer software), and Restructuring and Other Charges (Recoveries). Adjusted operating margin is adjusted operating earnings as a percentage of GAAP revenue. Management uses adjusted operating earnings (adjusted EBIAT) as a measure to assess performance related to our core operations.

Adjusted net earnings is defined as GAAP net earnings excluding the impact of Employee SBC expense, TRS FVAs, Amortization of intangible assets (excluding computer software), Restructuring and Other Charges (Recoveries), Miscellaneous Expense (Income) and adjustment for taxes. Adjusted EPS is calculated by dividing adjusted net earnings by the number of diluted weighted average shares outstanding. Management uses adjusted net earnings as a measure to assess performance related to our core operations.

Free cash flow is defined as cash provided by (used in) operations less the purchase of property, plant and equipment (net of proceeds from the sale of certain surplus assets, when applicable). Free cash flow does not represent residual cash flow available to Celestica for discretionary expenditures. Management uses free cash flow as a measure, in addition to GAAP cash provided by (used in) operations, to assess our operational cash flow performance. We believe free cash flow provides another level of transparency to our ability to generate cash from normal business operations.

Adjusted ROIC is calculated by dividing annualized adjusted EBIAT by average net invested capital for the period. Net invested capital (calculated in the tables below) is derived from GAAP financial measures, and is defined as total assets less: cash, right-of-use (ROU) assets (operating and finance leases), accounts payable, accrued and other current liabilities and provisions (excluding finance and operating lease liabilities) and income taxes payable. Management uses adjusted ROIC as a measure to assess the effectiveness of the invested capital we employ to build products or provide services to our customers, by quantifying how well we generate earnings relative to the capital we have invested in our business.

The determination of the GAAP effective tax rate and adjusted effective tax rate (non-GAAP) is described in footnote 1 to the table below.

The following table (which is unaudited) sets forth, for the periods indicated, the various non-GAAP financial measures discussed above, and a reconciliation of such non-GAAP financial measures to the most directly comparable financial measures determined under GAAP (in millions, except percentages and per share amounts):

	Three months ended September 30												Nine months ended September 30
		2026						2025						2026						2025
				% of revenue						% of revenue						% of revenue						% of revenue
GAAP revenue	$	5,829.7					$	3,194.0					$	14,575.3					$	8,736.0
GAAP gross profit	$	640.8		11.0	%		$	416.1		13.0	%		$	1,655.5		11.4	%		$	1,061.0		12.1	%
Employee SBC expense		10.7						6.8						33.9						24.2
TRS FVAs: losses (gains)		0.9						(48.5	)					(40.0	)					(81.6	)
Adjusted gross profit (non-GAAP)	$	652.4		11.2	%		$	374.4		11.7	%		$	1,649.4		11.3	%		$	1,003.6		11.5	%
GAAP SG&A	$	118.2		2.0	%		$	38.4		1.2	%		$	293.7		2.0	%		$	189.8		2.2	%
Employee SBC expense		(10.6	)					(8.8	)					(37.2	)					(32.6	)
TRS FVAs: gains (losses)		(3.0	)					64.8						43.2						110.0
Adjusted SG&A (non-GAAP)	$	104.6		1.8	%		$	94.4		3.0	%		$	299.7		2.1	%		$	267.2		3.1	%
GAAP earnings from operations	$	460.0		7.9	%		$	325.0		10.2	%		$	1,190.4		8.2	%		$	726.3		8.3	%
Employee SBC expense		21.3						15.6						71.1						56.8
TRS FVAs: losses (gains)		3.9						(113.3	)					(83.2	)					(191.6	)
Amortization of intangible assets (excluding computer software)		10.0						10.0						29.9						29.9
Restructuring and other charges (recoveries)		0.9						4.9						(0.6	)					23.3
Adjusted operating earnings (adjusted EBIAT) (non-GAAP)	$	496.1		8.5	%		$	242.2		7.6	%		$	1,207.6		8.3	%		$	644.7		7.4	%
GAAP net earnings	$	397.2		6.8	%		$	267.8		8.4	%		$	978.3		6.7	%		$	565.0		6.5	%
Employee SBC expense		21.3						15.6						71.1						56.8
TRS FVAs: losses (gains)		3.9						(113.3	)					(83.2	)					(191.6	)
Amortization of intangible assets (excluding computer software)		10.0						10.0						29.9						29.9
Restructuring and other charges (recoveries)		0.9						4.9						(0.6	)					23.3
Miscellaneous Expense (Income)		(0.2	)					1.3						(1.1	)					4.4
Adjustments for taxes(1)		(31.0	)					(3.2	)					(47.4	)					(3.4	)
Adjusted net earnings (non-GAAP)	$	402.1		6.9	%		$	183.1		5.7	%		$	947.0		6.5	%		$	484.4		5.5	%
Diluted EPS
Weighted average # of shares (in millions)		121.8						115.9						117.9						116.2
GAAP EPS	$	3.26					$	2.31					$	8.30					$	4.86
Adjusted EPS (non-GAAP)	$	3.30					$	1.58					$	8.03					$	4.17
# of shares outstanding at period end (in millions)		126.1						115.0						126.1						115.0
GAAP cash provided by operations	$	389.7					$	126.2					$	1,156.9					$	408.9
Purchase of property, plant and equipment, net of sales proceeds		(262.2	)					(37.3	)					(744.4	)					(106.5	)
Free cash flow (non-GAAP)	$	127.5					$	88.9					$	412.5					$	302.4
GAAP ROIC %		60.0	%					50.4	%					55.9	%					39.0	%
Adjusted ROIC % (non-GAAP)		64.7	%					37.5	%					56.7	%					34.6	%

(1)

The adjustments for taxes represent the tax effects (reflecting applicable effective tax rates) of the non-core items, which include our non-GAAP adjustments above.

Our GAAP effective tax rate is calculated as (i) GAAP tax expense divided by (ii) earnings from operations minus finance costs, net of interest income, and Miscellaneous Expense (Income) recorded on our statements of operations. Our adjusted effective tax rate (non-GAAP) is calculated as (i) adjusted tax expense (non-GAAP) divided by (ii) adjusted operating earnings (non-GAAP) minus finance costs, net of interest income. The following table sets forth, for the periods indicated, our calculation of GAAP effective tax rate and adjusted effective tax rate (non-GAAP):

	Three months ended								Nine months ended
	September 30								September 30
		2026				2025				2026				2025
GAAP tax expense	$	58.6			$	43.1			$	175.4			$	116.9
Earnings from operations	$	460.0			$	325.0			$	1,190.4			$	726.3
Finance costs		(24.1	)			(13.8	)			(63.3	)			(43.2	)
Interest income		19.7				1.0				25.5				3.2
Miscellaneous Income (Expense)		0.2				(1.3	)			1.1				(4.4	)
	$	455.8			$	310.9			$	1,153.7			$	681.9
GAAP effective tax rate		13	%			14	%			15	%			17	%
Adjusted tax expense (non-GAAP)	$	89.6			$	46.3			$	222.8			$	120.3
Adjusted operating earnings (non-GAAP)	$	496.1			$	242.2			$	1,207.6			$	644.7
Finance costs		(24.1	)			(13.8	)			(63.3	)			(43.2	)
Interest income		19.7				1.0				25.5				3.2
	$	491.7			$	229.4			$	1,169.8			$	604.7
Adjusted effective tax rate (non-GAAP)		18	%			20	%			19	%			20	%

 

The following table sets forth, for the periods indicated, our calculation of GAAP ROIC % and adjusted ROIC % (non-GAAP) (in millions, except GAAP ROIC % and adjusted ROIC % (non-GAAP)):

	Three months ended								Nine months ended
	September 30								September 30
		2026				2025				2026				2025
GAAP earnings from operations	$	460.0			$	325.0			$	1,190.4			$	726.3
Multiplier to annualize earnings		4				4				1.333				1.333
Annualized GAAP earnings from operations	$	1,840.0			$	1,300.0			$	1,586.8			$	968.2
Average net invested capital for the period*	$	3,066.6			$	2,581.6			$	2,839.0			$	2,482.8
GAAP ROIC %		60.0	%			50.4	%			55.9	%			39.0	%
	Three months ended								Nine months ended
	September 30								September 30
		2026				2025				2026				2025
Adjusted operating earnings (adjusted EBIAT) (non-GAAP)	$	496.1			$	242.2			$	1,207.6			$	644.7
Multiplier to annualize earnings		4				4				1.333				1.333
Annualized adjusted EBIAT (non-GAAP)	$	1,984.4			$	968.8			$	1,609.7			$	859.4
Average net invested capital for the period*	$	3,066.6			$	2,581.6			$	2,839.0			$	2,482.8
Adjusted ROIC % (non-GAAP)		64.7	%			37.5	%			56.7	%			34.6	%

	September 30 2026			June 30 2026			March 31 2026			December 31 2025
Net invested capital consists of:
Total assets	$	15,138.5		$	9,787.6		$	8,260.0		$	7,213.1
Less: cash		3,961.3			535.7			378.0			595.6
Less: ROU assets (operating and finance leases)		274.5			218.5			199.9			173.1
Less: accounts payable, accrued and other current liabilities and provisions (excluding finance and operating lease liabilities) and income taxes payable		7,682.3			6,120.7			5,021.7			3,882.0
Net invested capital at period end*	$	3,220.4		$	2,912.7		$	2,660.4		$	2,562.4
	September 30 2025			June 30 2025			March 31 2025			December 31 2024
Net invested capital consists of:
Total assets	$	6,606.7		$	6,241.1		$	5,834.9		$	5,988.2
Less: cash		305.9			313.8			303.0			423.3
Less: ROU assets (operating and finance leases)		178.9			174.9			178.6			180.8
Less: accounts payable, accrued and other current liabilities and provisions (excluding finance and operating lease liabilities) and income taxes payable		3,445.4			3,265.7			3,000.3			2,969.2
Net invested capital at period end*	$	2,676.5		$	2,486.7		$	2,353.0		$	2,414.9

*

We use a two-point average to calculate average net invested capital for the quarter and a four-point average to calculate average net invested capital for the nine-month period. Average net invested capital for Q3 2026 is the average of net invested capital at September 30, 2026 and June 30, 2026 and average net invested capital for the first nine months of 2026 is the average of net invested capital at September 30, 2026, June 30, 2026, March 31, 2026 and December 31, 2025.

CELESTICA INC. CONDENSED CONSOLIDATED BALANCE SHEETS (in millions of U.S. dollars) (unaudited)
	September 30 2026			December 31 2025
Assets
Current assets:
Cash and cash equivalents	$	3,961.3		$	595.6
Accounts receivable, net		3,763.1			2,638.1
Inventories		4,509.7			2,188.0
Other current assets		309.6			251.5
Total current assets		12,543.7			5,673.2
Property, plant and equipment, net		1,403.3			586.0
Operating lease right-of-use assets		194.7			124.1
Goodwill		333.3			333.1
Intangible assets, net		234.2			266.2
Deferred income taxes		232.5			156.4
Other non-current assets		196.8			74.1
Total assets	$	15,138.5		$	7,213.1
Liabilities and Equity
Current liabilities:
Current portion of borrowings under credit facility and finance lease obligations	$	27.3		$	26.0
Accounts payable		5,040.6			1,866.1
Accrued and other current liabilities and provisions		2,559.1			1,896.8
Income taxes payable		142.8			150.7
Total current liabilities		7,769.8			3,939.6
Long-term portion of borrowings under credit facility and finance lease obligations		791.5			750.5
Pension and non-pension post-employment benefit obligations		90.8			89.5
Other non-current liabilities and provisions		232.5			176.0
Deferred income taxes		39.9			41.2
Total liabilities		8,924.5			4,996.8
Equity:
Total equity		6,214.0			2,216.3
Total liabilities and equity	$	15,138.5		$	7,213.1

CELESTICA INC. CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (in millions of U.S. dollars, except per share amounts) (unaudited)
	Three months ended								Nine months ended
	September 30								September 30
		2026				2025				2026				2025
Revenue	$	5,829.7			$	3,194.0			$	14,575.3			$	8,736.0
Cost of sales		5,188.9				2,777.9				12,919.8				7,675.0
Gross profit		640.8				416.1				1,655.5				1,061.0
Selling, general and administrative expenses		118.2				38.4				293.7				189.8
Research and development		51.2				36.4				138.7				88.0
Amortization of intangible assets		10.5				11.4				33.3				33.6
Restructuring and other charges (recoveries)		0.9				4.9				(0.6	)			23.3
Earnings from operations		460.0				325.0				1,190.4				726.3
Finance costs		24.1				13.8				63.3				43.2
Interest income		(19.7	)			(1.0	)			(25.5	)			(3.2	)
Miscellaneous expense (income)		(0.2	)			1.3				(1.1	)			4.4
Earnings before income taxes		455.8				310.9				1,153.7				681.9
Income tax expense (recovery)
Current		84.8				44.2				250.2				133.0
Deferred		(26.2	)			(1.1	)			(74.8	)			(16.1	)
		58.6				43.1				175.4				116.9
Net earnings	$	397.2			$	267.8			$	978.3			$	565.0
Earnings per share:
Basic	$	3.30			$	2.33			$	8.38			$	4.90
Diluted	$	3.26			$	2.31			$	8.30			$	4.86
Weighted-average shares used in computing per share amounts (in millions):
Basic		120.5				115.0				116.8				115.4
Diluted		121.8				115.9				117.9				116.2

CELESTICA INC. CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (in millions of U.S. dollars) (unaudited)
	Three months ended								Nine months ended
	September 30								September 30
Cash provided by (used in):		2026				2025				2026				2025
Operating activities:
Net earnings	$	397.2			$	267.8			$	978.3			$	565.0
Adjustments to reconcile net earnings to net cash flows provided by operating activities:
Depreciation and amortization		48.5				40.3				132.1				123.0
Stock-based compensation (SBC)		21.3				15.6				71.1				56.8
Total return swap (TRS) fair value adjustments		3.9				(113.3	)			(83.2	)			(191.6	)
Restructuring and other charges (recoveries)		—				2.5				(10.0	)			2.9
Unrealized losses on hedge derivatives		—				1.1				—				3.7
Deferred income taxes		(26.2	)			(1.1	)			(74.8	)			(16.1	)
Other		7.0				5.7				9.8				24.1
Changes in non-cash working capital items:
Accounts receivable		(424.9	)			(151.5	)			(1,125.0	)			(370.3	)
Inventories		(1,108.0	)			(128.6	)			(2,321.7	)			(286.1	)
Other current assets		(22.9	)			(0.9	)			(10.2	)			(7.3	)
Accounts payable, accrued and other current liabilities, provisions and income taxes payable		1,493.8				188.6				3,590.5				504.8
Net cash provided by operating activities		389.7				126.2				1,156.9				408.9
Investing activities:
Purchase of property, plant and equipment		(274.1	)			(37.3	)			(767.4	)			(106.5	)
Proceeds from sale of assets		11.9				—				23.0				—
Other		—				—				(2.5	)			(2.5	)
Net cash used in investing activities		(262.2	)			(37.3	)			(746.9	)			(109.0	)
Financing activities:
Borrowings under revolving loans		210.0				—				810.0				500.0
Repayments under revolving loans		(210.0	)			(90.0	)			(810.0	)			(500.0	)
Borrowings under term loans		—				—				250.0				—
Repayments under term loans		(4.4	)			(4.4	)			(238.1	)			(13.1	)
Principal payments of finance leases		(2.3	)			(2.4	)			(7.3	)			(7.6	)
Proceeds from issuance of capital stock under SBC plans		—				—				—				0.3
Proceeds from issuance of capital stock under public offering, net of issuance costs		3,391.3				—				3,391.3				—
Repurchase of capital stock for cancellation		—				—				(22.6	)			(117.7	)
Purchase of treasury stock for SBC plans		(37.6	)			—				(37.6	)			(221.6	)
Proceeds from TRS settlement		—				—				—				98.6
SBC cash settlement		(47.3	)			—				(373.6	)			(156.0	)
Debt issuance costs paid		(1.6	)			—				(6.4	)			(0.2	)
Net cash provided by (used in) financing activities		3,298.1				(96.8	)			2,955.7				(417.3	)
Net increase (decrease) in cash and cash equivalents		3,425.6				(7.9	)			3,365.7				(117.4	)
Cash and cash equivalents, beginning of period		535.7				313.8				595.6				423.3
Cash and cash equivalents, end of period	$	3,961.3			$	305.9			$	3,961.3			$	305.9
Supplemental disclosure information:
Interest paid	$	17.9			$	13.4			$	57.2			$	40.7
Net income taxes paid	$	138.9			$	45.7			$	284.4			$	101.9
Non-cash investing activity:
Unpaid purchases of property, plant and equipment at end of period	$	238.3			$	24.4			$	238.3			$	24.4

PORTLAND, Maine, Oct. 26, 2026 (GLOBE NEWSWIRE) — Northeast Bank (the “Bank”) (NASDAQ: NBN), a Maine-based bank, today reported net income of $29.0 million, or $3.42 per diluted common share, for the quarter ended September 30, 2026, compared to net income of $22.5 million, or $2.67 per diluted common share, for the quarter ended September 30, 2025.

The Board of Directors declared a cash dividend of $0.01 per share, payable on November 23, 2026, to shareholders of record as of November 9, 2026.

“We entered fiscal 2027 with strong momentum, delivering quarterly net income of $29.0 million and strong loan production of $534.3 million in the first quarter,” said Rick Wayne, Chief Executive Officer. “Our National Lending Division continued to generate attractive opportunities, with originated loan volume reaching a record $258.6 million during the quarter and purchases totaling $237.6 million invested, most of which occurred at the end of the quarter. Asset quality metrics remain healthy and shareholders’ equity grew to $628.4 million. These results demonstrate the resilience of our business model and position us well for continued growth.”

As of September 30, 2026, total assets were $5.35 billion, an increase of $125.8 million, or 2.4%, from total assets of $5.23 billion as of June 30, 2026, due to the following:

1.   The following table highlights the changes in the loan portfolio, including loans held for sale, for the three months ended September 30, 2026:

	Loan Portfolio Changes
	September 30, 2026				June 30, 2026				Change ($)				Change (%)
	(Dollars in thousands)
National Lending Purchased	$	2,789,235			$	2,756,583			$	32,652			1.18	%
National Lending Originated		1,721,504				1,586,523				134,981			8.51	%
Small Business		230,631				234,761				(4,130	)		(1.76	%)
Community Banking		13,459				14,125				(666	)		(4.72	%)
Total	$	4,754,829			$	4,591,992			$	162,837			3.55	%

Loans generated during the quarter ended September 30, 2026 totaled $534.3 million, which consisted of $237.6 million of National Lending purchased loans at an average price of 93.5% of unpaid principal balance, $258.6 million of National Lending originated loans, $35.2 million of Small Business Administration (“SBA”) 7(a) loans, and $2.8 million of insured small balance business loans.

An overview of the Bank’s National Lending Division portfolio follows:

	National Lending Portfolio
	Three Months Ended September 30,
	2026												2025
	Purchased				Originated				Total				Purchased				Originated				Total
	(Dollars in thousands)
Loans purchased or originated during the period:
Unpaid principal balance	$	254,184			$	258,609			$	512,793			$	152,690			$	133,818			$	286,508
Initial net investment basis (1)		237,643				258,609				496,252				144,600				133,818				278,418
Loan returns during the period:
Yield		8.24	%			7.72	%			8.04	%			8.16	%			8.63	%			8.32	%
Total Return on Purchased Loans (2)		9.11	%		N/A					9.11	%			8.21	%		N/A					8.21	%
Total loans as of period end:
Unpaid principal balance	$	2,924,956			$	1,721,504			$	4,646,460			$	2,578,040			$	1,213,111			$	3,791,151
Net investment basis		2,789,235				1,721,504				4,510,739				2,406,506				1,213,111				3,619,617

(1)   Initial net investment basis on purchased loans is the initial amortized cost basis net of initial allowance for credit losses (credit mark).
(2)   The total return on purchased loans represents scheduled accretion, accelerated accretion, gains (losses) on real estate owned, release of allowance for credit losses on purchased loans, and other noninterest income recorded during the period divided by the average invested balance on an annualized basis. The total return on purchased loans does not include the effect of purchased loan charge-offs or recoveries during the period. Total return on purchased loans is considered a non-GAAP financial measure. See reconciliation in below table entitled “Total Return on Purchased Loans.”

2.   Investment securities increased by $45.4 million, or 46.5%, from June 30, 2026. The increase was driven by the purchase of $52.4 million in agency securities during the quarter ended September 30, 2026.

3.   Deposits increased by $95.3 million, or 2.6%, from June 30, 2026. The increase was primarily attributable to an increase in time deposits of $143.4 million, or 5.7%. The significant driver in the change in time deposits was an increase in brokered time deposits, which increased by $151.9 million, partially offset by a decrease in Community Banking Division time deposits of $8.5 million.

4.   Federal Home Loan Bank (“FHLB”) advances increased by $8.8 million, or 1.1%, from June 30, 2026. The increase was attributable to advances taken to fund loan growth.

5.   Shareholders’ equity increased by $24.5 million, or 4.1%, from June 30, 2026, primarily due to net income of $29.0 million for the quarter ended September 30, 2026 and stock-based compensation of $2.5 million, partially offset by the cancellation of restricted stock to cover tax obligations on restricted stock vests, which resulted in a $6.3 million decrease in shareholders’ equity.

Net income increased by $6.4 million to $29.0 million for the quarter ended September 30, 2026, compared to net income of $22.5 million for the quarter ended September 30, 2025, due to the following:

1.   Net interest and dividend income before provision for credit losses increased by $10.7 million to $58.9 million for the quarter ended September 30, 2026, compared to $48.2 million for the quarter ended September 30, 2025. The increase was primarily due to the following:  

• An increase in interest income earned on loans of $16.7 million, primarily due to higher average balances in the National Lending Division and Small Business Division portfolios, partially offset by lower yields across the portfolio; partially offset by,
• An increase in interest expense on FHLB advances of $4.3 million due to higher average balances;
• A decrease in other interest and dividend income of $1.7 million due to lower interest rates earned and lower average balances; and
• An increase in interest expense on deposits of $1.2 million due to growth in deposit balances, partially offset by lower cost of deposits.

The following table summarizes interest income and related yields recognized on the loan portfolios:

	Interest Income and Yield on Loans
	Three Months Ended September 30,
	2026											2025
	Average Balance (1)				Interest Income				Yield			Average Balance (1)				Interest Income				Yield
	(Dollars in thousands)
Community Banking	$	13,548			$	225			6.59	%		$	17,856			$	303			6.73	%
Small Business		243,183				5,730			9.35	%			131,952				3,434			10.32	%
National Lending:
Originated		1,655,679				32,228			7.72	%			1,214,157				26,425			8.63	%
Purchased		2,705,965				56,214			8.24	%			2,311,209				47,518			8.16	%
Total National Lending		4,361,644				88,442			8.04	%			3,525,366				73,943			8.32	%
Total	$	4,618,375			$	94,397			8.11	%		$	3,675,174			$	77,680			8.39	%

(1)   Includes loans held for sale.

The components of total income on purchased loans are set forth in the table below entitled “Total Return on Purchased Loans.” When compared to the quarter ended September 30, 2025, transactional income increased by $7.2 million for the quarter ended September 30, 2026, and regularly scheduled interest and accretion increased by $7.1 million, primarily due to higher average balances. The total return on purchased loans for the quarter ended September 30, 2026 was 9.1%, an increase from 8.2% for the quarter ended September 30, 2025. The following table details the total return on purchased loans:

	Total Return on Purchased Loans
	Three Months Ended September 30,
	2026							2025
	Income				Return (1)			Income				Return (1)
	(Dollars in thousands)
Regularly scheduled interest and accretion	$	52,548			7.70	%		$	45,440			7.80	%
Transactional income:
Release of allowance for credit losses on purchased loans		5,921			0.87	%			301			0.05	%
Accelerated accretion and loan fees		3,668			0.54	%			2,078			0.36	%
Total transactional income		9,589			1.41	%			2,379			0.41	%
Total	$	62,137			9.11	%		$	47,819			8.21	%

(1)   The total return on purchased loans represents scheduled accretion, accelerated accretion, gains (losses) on real estate owned, release of allowance for credit losses on purchased loans, and other noninterest income recorded during the period divided by the average invested balance on an annualized basis. The total return on purchased loans does not include the effect of purchased loan charge-offs or recoveries during the period. Total return on purchased loans is considered a non-GAAP financial measure.

2.   Provision for credit losses increased by $1.2 million reflecting a provision of $794 thousand for the quarter ended September 30, 2026, compared to a credit of $435 thousand for the quarter ended September 30, 2025. The increase was primarily related to loan growth and increased qualitative adjustments on the Small Business and National Lending Purchased portfolios during the quarter.

3.   Noninterest income increased by $667 thousand for the quarter ended September 30, 2026, compared to the quarter ended September 30, 2025, primarily due to the following:  

• A gain on recovery of insured credit losses of $2.6 million for the quarter ended September 30, 2026 related to anticipated recoveries of expected credit losses on the insured small balance business loans held by the Bank as of September 30, 2026; partially offset by,
• A decrease in gain on sale of SBA loans of $1.4 million, due to a sale volume of $23.7 million in SBA loans during the quarter ended September 30, 2026 as compared to $58.4 million in sale volume during the quarter ended September 30, 2025.

4.   Noninterest expense increased by $2.3 million for the quarter ended September 30, 2026, compared to the quarter ended September 30, 2025, primarily due to the following:

• An increase in salaries and employee benefits expense of $1.6 million, primarily due to an increase in regular, incentive, and stock compensation expense;
• An increase in other noninterest expense of $422 thousand, primarily due to an increase in directors’ stock compensation expense;
• An increase in occupancy and equipment expense of $271 thousand, primarily related to a loss from a disposal of property as part of our Augusta branch rebuild; and
• An increase in FDIC insurance expense of $267 thousand due to a larger balance sheet in the quarter ended September 30, 2026; partially offset by,
• A decrease in loan expense of $577 thousand, primarily related to decreased expenses in connection with the origination of SBA loans.

5.   Income tax expense increased by $1.4 million to $10.3 million, or an effective tax rate of 26.2%, for the quarter ended September 30, 2026, compared to income tax expense of $8.9 million, or an effective tax rate of 28.3%, for the quarter ended September 30, 2025. The decrease in effective tax rate is primarily due to an increase in tax benefit on the vest of restricted stock during the quarter ended September 30, 2026 as compared to the quarter ended September 30, 2025.

As of September 30, 2026, nonperforming assets totaled $31.9 million, or 0.6% of total assets, compared to $34.8 million, or 0.7% of total assets, as of June 30, 2026.

As of September 30, 2026, past due loans totaled $22.4 million, or 0.5% of total loans, compared to past due loans totaling $24.0 million, or 0.5% of total loans, as of June 30, 2026.

As of September 30, 2026, the Bank’s Tier 1 leverage capital ratio was 12.1%, compared to 11.9% at June 30, 2026, and the Bank’s Total risk-based capital ratio was 14.7% at September 30, 2026, compared to 14.7% at June 30, 2026.

Investor Call Information
Rick Wayne, Chief Executive Officer, Santino Delmolino, Chief Financial Officer, and Pat Dignan, Chief Operating Officer and Chief Credit Officer, of Northeast Bank, will host a conference call to discuss first quarter financial results and business outlook at 10:00 a.m. Eastern Time on Tuesday, October 27^th. To access the conference call by phone, please go to this link (Phone Registration), and you will be provided with dial in details. The call will be available via live webcast, which can be viewed by accessing the Bank’s website at www.northeastbank.com and clicking on the About Us – Investor Relations section. To listen to the webcast, attendees are encouraged to visit the website at least 15 minutes early to register, download, and install any necessary audio software. Please note there will also be a slide presentation that will accompany the webcast. This presentation is also available in the Investor Relations section of the Bank’s website at www.northeastbank.com. For those who cannot listen to the live broadcast, a replay will be available online for one year at www.northeastbank.com.

About Northeast Bank
Northeast Bank (NASDAQ: NBN) is headquartered in Portland, Maine and operates a nationwide commercial lending platform alongside a community banking franchise. The Bank’s National Lending Division originates and purchases commercial real estate loans, specializing in complex credit structures, secondary-market loan acquisitions, and tailored financing solutions to a diverse national clientele. The Bank’s Small Business Division provides government-guaranteed loans as a Small Business Administration Preferred Lender in addition to other small-balance financing solutions. On a regional and national level, Northeast Bank provides a comprehensive suite of depository products and cash management and treasury services through a network of banking centers in Maine and its digital banking division, ableBanking. Information regarding Northeast Bank can be found at www.northeastbank.com.

Non-GAAP Financial Measures
In addition to results presented in accordance with generally accepted accounting principles (“GAAP”), this press release contains certain non-GAAP financial measures, including tangible common shareholders’ equity, tangible book value per share, total return on purchased loans, and efficiency ratio. The Bank’s management believes that the supplemental non-GAAP information is utilized by regulators and market analysts to evaluate a company’s financial condition and therefore, such information is useful to investors. These disclosures should not be viewed as a substitute for financial results determined in accordance with GAAP, nor are they necessarily comparable to non-GAAP performance measures that may be presented by other companies. Because non-GAAP financial measures are not standardized, it may not be possible to compare these financial measures with other companies’ non-GAAP financial measures having the same or similar names.

Forward-Looking Statements
Statements in this press release that are not historical facts are forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, and are intended to be covered by the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. We may also make forward-looking statements in other documents we file with the Federal Deposit Insurance Corporation (“FDIC”), in our annual reports to our shareholders, in press releases and other written materials, and in oral statements made by our officers, directors, or employees. You can identify forward-looking statements by the use of the words “believe,” “expect,” “anticipate,” “intend,” “estimate,” “assume,” “outlook,” “will,” “should,” and other expressions that predict or indicate future events and trends and which do not relate to historical matters. Although the Bank believes that these forward-looking statements are based on reasonable estimates and assumptions, they are not guarantees of future performance and are subject to known and unknown risks, uncertainties, contingencies, and other factors. You should not place undue reliance on our forward-looking statements. You should exercise caution in interpreting and relying on forward-looking statements because they are subject to significant risks, uncertainties, and other factors which are, in some cases, beyond the Bank’s control. The Bank’s actual results could differ materially from those expressed or implied by such forward-looking statements as a result of, among other factors: changes in interest rates and real estate values; changes in employment levels and general business and economic conditions on a national basis and in the local markets in which the Bank operates; changes in customer behavior due to changing business and economic conditions (including the impact of ongoing armed conflicts, tariffs, inflation, and concerns about liquidity) or legislative or regulatory initiatives; the possibility that future credit losses are higher than currently expected due to changes in economic assumptions, customer behavior, or adverse economic developments; turbulence in the capital and debt markets; competitive pressures from other financial institutions; changes in loan defaults and charge-off rates; changes in the value of securities and other assets, adequacy of credit loss reserves, or deposit levels necessitating increased borrowing to fund loans and investments; changes in, and evolving interpretations of, existing and future laws, rules, and regulations; operational risks including, but not limited to, cybersecurity, fraud, natural disasters, climate change, and future pandemics; the risk that the Bank may not be successful in the implementation of its business strategy; the risk that intangibles recorded in the Bank’s financial statements will become impaired; changes in assumptions used in making such forward-looking statements; and the other risks and uncertainties detailed in the Bank’s Annual Report on Form 10-K, as updated in the Bank’s Quarterly Reports on Form 10-Q and other filings submitted to the FDIC. These statements speak only as of the date of this release and the Bank does not undertake any obligation to update or revise any of these forward-looking statements to reflect events or circumstances occurring after the date of this release or to reflect the occurrence of unanticipated events.

NBN-F

NORTHEAST BANK
BALANCE SHEETS
(Unaudited)
(In thousands, except share and per share data)
	September 30, 2026				June 30, 2026
Assets
Cash and due from banks	$	2,723			$	2,908
Short-term investments		345,013				431,466
Total cash and cash equivalents		347,736				434,374
Available-for-sale debt securities, at fair value		135,521				89,961
Equity securities, at fair value		7,527				7,674
Total securities		143,048				97,635
Loans held for sale		100,181				107,204
Loans:
Commercial real estate		3,426,911				3,330,334
Commercial and industrial		1,105,848				1,031,362
Residential real estate		121,786				122,747
Consumer		103				345
Total loans		4,654,648				4,484,788
Less: Allowance for credit losses		58,286				58,419
Loans, net		4,596,362				4,426,369
Premises and equipment, net		22,972				23,011
Real estate owned and other possessed collateral, net		9,369				9,601
Federal Home Loan Bank stock, at cost		36,384				36,031
Bank-owned life insurance		18,920				18,788
Accrued interest receivable		20,581				19,419
Other assets		57,970				55,293
Total assets	$	5,353,523			$	5,227,725
Liabilities and Shareholders’ Equity
Deposits:
Demand	$	182,163			$	180,140
Savings and interest checking		868,997				916,915
Money market		71,500				73,640
Time		2,662,420				2,519,066
Total deposits		3,785,080				3,689,761
Federal Home Loan Bank advances		847,762				838,932
Lease liability		17,174				17,286
Other liabilities		75,107				77,893
Total liabilities		4,725,123				4,623,872
Commitments and contingencies
Shareholders’ equity
Preferred stock, $1.00 par value, 1,000,000 shares authorized; no shares issued and outstanding at September 30, 2026 and June 30, 2026		—				—
Voting common stock, $1.00 par value, 25,000,000 shares authorized; 8,582,833 and 8,555,360 shares issued and outstanding at September 30, 2026 and June 30, 2026, respectively		8,583				8,555
Non-voting common stock, $1.00 par value, 3,000,000 shares authorized; No shares issued and outstanding at September 30, 2026 and June 30, 2026		—				—
Additional paid-in capital		97,501				101,297
Retained earnings		523,073				494,166
Accumulated other comprehensive loss		(757	)			(165	)
Total shareholders’ equity		628,400				603,853
Total liabilities and shareholders’ equity	$	5,353,523			$	5,227,725

NORTHEAST BANK
STATEMENTS OF INCOME
(Unaudited)
(In thousands, except share and per share data)
	Three Months Ended September 30,
		2026				2025
Interest and dividend income:
Interest and fees on loans	$	94,397			$	77,680
Interest on available-for-sale securities		1,416				180
Other interest and dividend income		3,678				5,347
Total interest and dividend income		99,491				83,207
Interest expense:
Deposits		32,560				31,331
Federal Home Loan Bank advances		7,808				3,461
Obligation under capital lease agreements		207				223
Total interest expense		40,575				35,015
Net interest and dividend income before provision for credit losses		58,916				48,192
Provision (credit) for credit losses		794				(435	)
Net interest and dividend income after provision for credit losses		58,122				48,627
Noninterest income:
Fees for other services to customers		333				346
Gain on sales of loans		2,694				4,138
Net unrealized (loss) gain on equity securities		(214	)			52
Loss on real estate owned, other repossessed collateral and premises and equipment, net		(232	)			—
Bank-owned life insurance income		132				124
Correspondent fee income		—				12
Gain on recovery of insured credit losses		2,581				—
Other noninterest income		56				11
Total noninterest income		5,350				4,683
Noninterest expense:
Salaries and employee benefits		14,305				12,682
Occupancy and equipment expense		1,417				1,146
Professional fees		1,307				1,095
Data processing fees		1,713				1,653
Marketing expense		130				123
Loan acquisition and collection expense		2,772				3,349
FDIC insurance expense		561				294
Other noninterest expense		1,970				1,548
Total noninterest expense		24,175				21,890
Income before income tax expense		39,297				31,420
Income tax expense		10,307				8,879
Net income	$	28,990			$	22,541
Weighted-average shares outstanding:
Basic		8,348,747				8,272,801
Diluted		8,470,164				8,430,980
Earnings per common share:
Basic	$	3.47			$	2.72
Diluted		3.42				2.67
Cash dividends declared per common share	$	0.01			$	0.01

NORTHEAST BANK
AVERAGE BALANCE SHEETS AND ANNUALIZED YIELDS
(Unaudited)
(Dollars in thousands)
	Three Months Ended September 30,
	2026											2025
	Average Balance				Interest Income/ Expense				Average Yield/ Rate			Average Balance				Interest Income/ Expense				Average Yield/ Rate
	(Dollars in thousands)
Assets:
Interest-earning assets:
Investment securities	$	126,802				1,416			4.43	%		$	18,135			$	180			3.94	%
Loans (1) (2)		4,618,375				94,397			8.11	%			3,675,174				77,680			8.39	%
Federal Home Loan Bank stock		33,932				523			6.12	%			15,185				285			7.45	%
Short-term investments (3)		340,739				3,155			3.67	%			454,491				5,062			4.42	%
Total interest-earning assets		5,119,848				99,491			7.71	%			4,162,985				83,207			7.93	%
Cash and due from banks		2,774											2,086
Other non-interest earning assets		73,411											38,420
Total assets	$	5,196,033										$	4,203,491
Liabilities & Shareholders’ Equity:
Interest-bearing liabilities:
NOW accounts	$	662,369			$	5,396			3.23	%		$	648,545			$	6,208			3.80	%
Money market accounts		73,244				332			1.80	%			87,731				495			2.24	%
Savings accounts		217,438				1,242			2.27	%			210,579				1,505			2.84	%
Time deposits		2,573,372				25,590			3.95	%			2,175,202				23,123			4.22	%
Total interest-bearing deposits		3,526,423				32,560			3.66	%			3,122,057				31,331			3.98	%
Federal Home Loan Bank advances		778,832				7,808			3.98	%			316,077				3,461			4.34	%
Lease liability		17,111				207			4.80	%			18,765				223			4.71	%
Total interest-bearing liabilities		4,322,366				40,575			3.72	%			3,456,899				35,015			4.02	%
Non-interest bearing liabilities:
Demand deposits and escrow accounts		179,905											169,767
Other liabilities		77,029											69,968
Total liabilities		4,579,300											3,696,634
Shareholders’ equity		616,733											506,857
Total liabilities and shareholders’ equity	$	5,196,033										$	4,203,491
Net interest income					$	58,916										$	48,192
Interest rate spread									3.99	%										3.91	%
Net interest margin (4)									4.57	%										4.59	%
Cost of funds (5)									3.58	%										3.83	%

(1)   Includes loans held for sale.
(2)   Nonaccrual loans are included in the computation of average, but unpaid interest has not been included for purposes of determining interest income.
(3)   Short-term investments include FHLB overnight deposits and other interest-bearing deposits.
(4)   Net interest margin is calculated as net interest income divided by average interest-earning assets.
(5)   Cost of funds is calculated as total interest expense divided by average interest-bearing liabilities plus demand deposits and escrow accounts.

NORTHEAST BANK
SELECTED FINANCIAL HIGHLIGHTS AND OTHER DATA
(Unaudited)
(Dollars in thousands, except share and per share data)
	Three Months Ended
	September 30, 2026				June 30, 2026				March 31, 2026				December 31, 2025				September 30, 2025
Net interest income	$	58,916			$	60,316			$	63,073			$	48,801			$	48,192
Provision (credit) for credit losses		794				(679	)			(218	)			875				(435	)
Noninterest income		5,350				4,928				3,545				2,964				4,683
Noninterest expense		24,175				23,475				23,640				20,771				21,890
Net income		28,990				34,341				29,853				20,740				22,541
Weighted-average common shares outstanding:
Basic		8,348,747				8,313,725				8,313,715				8,312,859				8,272,801
Diluted		8,470,164				8,471,307				8,447,028				8,405,541				8,430,980
Earnings per common share:
Basic	$	3.47			$	4.13			$	3.59			$	2.49			$	2.72
Diluted		3.42				4.05				3.53				2.47				2.67
Dividends declared per common share	$	0.01			$	0.01			$	0.01			$	0.01			$	0.01
Return on average assets		2.21	%			2.71	%			2.43	%			1.87	%			2.13	%
Return on average equity		18.65	%			23.51	%			21.67	%			15.62	%			17.64	%
Net interest rate spread (1)		3.99	%			4.21	%			4.56	%			3.89	%			3.91	%
Net interest margin (2)		4.57	%			4.80	%			5.15	%			4.49	%			4.59	%
Efficiency ratio (non-GAAP) (3)		37.62	%			35.98	%			35.49	%			40.13	%			41.40	%
Noninterest expense to average total assets		1.85	%			1.85	%			1.93	%			1.87	%			2.07	%
Average interest-earning assets to average interest-bearing liabilities		118.45	%			118.70	%			118.60	%			118.40	%			120.43	%
	As of:
	September 30, 2026				June 30, 2026				March 31, 2026				December 31, 2025				September 30, 2025
Nonperforming loans:
Total originated portfolio	$	14,734			$	14,970			$	16,714			$	12,761			$	10,817
Total purchased portfolio		7,770				10,242				13,439				21,842				22,976
Total nonperforming loans		22,505				25,212				30,153				34,603				33,793
Real estate owned and other repossessed collateral, net		9,369				9,601				9,155				719				1,279
Total nonperforming assets	$	31,874			$	34,813			$	39,308			$	35,322			$	35,072
Past due loans to total loans		0.48	%			0.54	%			0.64	%			0.84	%			0.77	%
Nonperforming loans to total loans		0.48	%			0.56	%			0.68	%			0.80	%			0.90	%
Nonperforming assets to total assets		0.60	%			0.67	%			0.78	%			0.71	%			0.84	%
Allowance for credit losses to total loans		1.25	%			1.30	%			1.36	%			1.47	%			1.24	%
Allowance for credit losses to nonperforming loans		258.99	%			231.71	%			200.02	%			184.42	%			138.23	%
Net charge-offs	$	5,310			$	1,801			$	3,383			$	2,947			$	1,887
Commercial real estate loans to total capital (4)		490.38	%			485.48	%			509.14	%			533.21	%			470.01	%
Net loans to deposits		121.43	%			119.96	%			120.22	%			112.25	%			114.02	%
Purchased loans to total loans		59.92	%			61.47	%			63.17	%			65.66	%			64.12	%
Equity to total assets		11.74	%			11.55	%			11.28	%			10.83	%			12.31	%
Common equity tier 1 capital ratio		13.48	%			13.46	%			12.95	%			12.47	%			13.86	%
Total risk-based capital ratio		14.73	%			14.71	%			14.20	%			13.73	%			15.11	%
Tier 1 leverage capital ratio		12.11	%			11.90	%			11.40	%			12.19	%			12.21	%
Total shareholders’ equity	$	628,400			$	603,853			$	567,664			$	536,018			$	513,647
Less: Preferred stock		—				—				—				—				—
Common shareholders’ equity		628,400				603,853				567,664				536,018				513,647
Less: Intangible assets		—				—				—				—				—
Tangible common shareholders’ equity (non-GAAP)	$	628,400			$	603,853			$	567,664			$	536,018			$	513,647
Common shares outstanding		8,582,833				8,555,360				8,555,360				8,555,360				8,562,960
Book value per common share	$	73.22			$	70.58			$	66.35			$	62.65			$	59.98
Tangible book value per share (non-GAAP) (5)		73.22				70.58				66.35				62.65				59.98

(1)   The net interest rate spread represents the difference between the weighted-average yield on interest-earning assets and the weighted-average cost of interest-bearing liabilities for the period.
(2)   Net interest margin is calculated as net interest income divided by total interest-earning assets.
(3)   The efficiency ratio represents noninterest expense divided by the sum of net interest income (before the credit loss provision) plus noninterest income.
(4)   For purposes of calculating this ratio, commercial real estate includes all non-owner occupied commercial real estate loans defined as such by regulatory guidance, including all land development and construction loans.
(5)   Tangible book value per share represents total shareholders’ equity less the sum of preferred stock and intangible assets divided by common shares outstanding.

For More Information:
Santino Delmolino, Chief Financial Officer
Northeast Bank, 27 Pearl Street, Portland, Maine 04101
617.960.3634
www.northeastbank.com 

Flyte Intends to Double Its Vision Jet Fleet to Ten Aircraft in the First Quarter of 2027, Further Expanding Regional Private Aviation Capacity and Footprint

All Flyte Vision Jets for Charter are equipped with the Garmin Safe Return Autoland System and the Cirrus Airframe Parachute System (CAPS)

Cirrus Surpasses 800 Vision Jet Deliveries Worldwide, Marking a Decade of Advances in Safety, Technology and Performance

NEW YORK, Oct. 26, 2026 (GLOBE NEWSWIRE) —  Flyte Aviation, Inc. (NYSE American: VJET) (“Flyte” or the “Company”), one of the nation’s largest operators of Cirrus Vision Jets, today congratulated Duluth, Minnesota-based Cirrus Aircraft on the Vision Jet’s 10th anniversary this week, and on its more than 800 new aircraft deliveries worldwide. Flyte is building its regional private aviation platform around the aircraft, operating five Vision Jets today with plans to increase the size of its fleet to eight — and an intention to double the fleet to ten — in the first quarter of 2027.

First certified by the Federal Aviation Administration (FAA) in 2016, the Vision Jet combines single-engine efficiency, advanced avionics — and the Cirrus Airframe Parachute System (CAPS), an integrated parachute for the entire aircraft. Subsequent advancements include Garmin Safe Return Emergency Autoland, which can land an equipped aircraft automatically in an emergency.

“Cirrus changed what a private jet could be, to become the best in class. Flyte is changing how customers access it,” said David Jenkins, Flyte Aviation Chairman and Chief Executive Officer. “As one of the nation’s largest Vision Jet operators, we congratulate the entire Cirrus team on a decade of innovation and unrivalled quality.

“We are proud that all of our Vision Jets have the Garmin Safe Return Emergency Autoland system, which can safely land the plane, automatically, without human input — as well as the proprietary Cirrus Airframe Parachute System (CAPS) which can also land the plane. We have built our regional private aviation strategy around this aircraft because of its combination of safety, efficiency, technology, and passenger experience. Our business model centers on converting those advantages into more bookings, stronger aircraft utilization, and repeat business,” Mr. Jenkins added.

Flyte provides regional private air travel for one to four passengers, connecting customers comfortably with airports closer to their homes, businesses and destinations. Its service footprint extends along the East Coast, with international service to Canada and the Bahamas. Florida is currently the Company’s strongest market, and California service is planned to begin in the first quarter of 2027. The planned fleet expansion is expected to generate increased revenue, aircraft availability and broader regional coverage. Flyte combines its aircraft network with digital booking technology, transparent all-in pricing, and personalized service — to simplify private air travel.

Cirrus has continued to advance its flagship Vision Jet through successive generations, improving performance, connectivity, and cabin features, while expanding its training, maintenance and operator support capabilities. That continuing investment supports the aircraft platform at the center of Flyte’s growth strategy.

About Cirrus Aircraft

Headquartered in Duluth, Minnesota, for over twenty years, our team has delivered an aviation experience to our customers that is the pinnacle of innovation, quality, safety and service. And we’re just getting started. https://cirrusaircraft.com/about/

About Flyte Aviation

Flyte Aviation, Inc. (NYSE American: VJET) is a technology-enabled private aviation company making private air travel simpler, more transparent and increasingly accessible. Through its Flyte brand, the Company operates a growing fleet of state-of-the-art Cirrus Vision Jets and is building a scalable platform connecting customers, aircraft, operators, and aviation services. Flyte’s operated charter services are conducted through Ponderosa Air, LLC, an FAA-certified Part 135 air carrier.

For more information, visit www.flyflyte.com.

Forward-Looking Statements

This release contains forward-looking statements, including statements regarding planned fleet expansion, geographic growth, California service, aircraft availability, utilization and revenue opportunities. These statements reflect current expectations and are subject to risks and uncertainties that could cause actual results to differ materially, including aircraft acquisition and financing availability, maintenance requirements, regulatory approvals, staffing and customer demand, as well as risks described in the Company’s filings with the Securities and Exchange Commission. The Company undertakes no obligation to update these statements except as required by law.

Investor Relations

(800) 763-0904
IR@flyflyte.com

Atlanta, GA, Oct. 26, 2026 (GLOBE NEWSWIRE) — Piedmont Realty Trust (NYSE: PDM) has released its financial and operational results for the third quarter of 2026.  Please visit the Investor Relations section of Piedmont’s website at https://investor.piedmontreit.com to access the Earnings Release and Supplemental Information.

Piedmont has scheduled a conference call and an audio web cast for Tuesday, October 27, 2026, at 9:00 a.m. ET during which the Company’s management team will review third quarter performance, discuss recent events, and conduct a question-and-answer period.

To Listen to the Live or Replay of the Webcast:
Click on the webcast link under the Investor Relations section of the Company’s website at https://investor.piedmontreit.com/news-and-events/event-calendar

For analysts that are participating in the Conference Call:
Please dial in at least fifteen minutes prior to start time to ensure a timely connection.
Domestic: (888) 506-0062
International: (973) 528-0011
Participant Access Code: 836460

To Listen to the Replay Telephonically:
Domestic: (877) 481-4010
International: (919) 882-2331
Replay Passcode: 54602

The playback can be accessed through November 10, 2026.

About Piedmont Realty Trust

Piedmont Realty Trust™ (NYSE: PDM), is a fully integrated, self-managed real estate investment company focused on delivering an exceptional office environment. As an owner, manager, developer and operator of approximately 16 MM SF of Class A properties across major U.S. Sunbelt markets, Piedmont Realty Trust is known for its hospitality-driven approach and commitment to transforming buildings into premier “Piedmont PLACEs” that enhance each client’s workplace experience.

Research Analysts/ Institutional Investors Contact:
770-418-8592
investor.relations@piedmontreit.com

Shareholder Services/Transfer Agent Services Contact:
Computershare, Inc.
866-354-3485
investor.services@piedmontreit.com

WEST PALM BEACH, Fla., Oct. 26, 2026 (GLOBE NEWSWIRE) — LXP Industrial Trust (NYSE: LXP) (“LXP” or “the Company”) today announced that its shareholders approved the acquisition of LXP by Brookfield Asset Management (NYSE: BAM, TSX: BAM) and Canada Pension Plan Investment Board at the Special Meeting of Shareholders held earlier today.

According to the results of the Special Meeting of Shareholders, more than 99% of votes cast at the meeting – which represented approximately 82% of the outstanding LXP common shares as of the record date – were voted in favor of approving the merger. The final voting results of the Special Meeting of Shareholders will be filed as part of LXP’s Form 10-Q for the quarter ended September 30, 2026 with the U.S. Securities and Exchange Commission (the “SEC”) after certification by LXP’s inspector of election.

Under the terms of the merger agreement announced on July 20, 2026, common shareholders of the Company will receive $61.20 in cash for each LXP common share owned. The transaction is expected to be completed on November 2, 2026, subject to the satisfaction or waiver of the conditions to the closing of the transaction in the merger agreement. Upon closing of the transaction, LXP’s shares will no longer be listed on the New York Stock Exchange or any other public market.

About LXP Industrial Trust
LXP Industrial Trust (NYSE: LXP) is a publicly traded real estate investment trust (REIT) focused on Class A warehouse and distribution investments in 12 target markets across the Sunbelt and Midwest. LXP seeks to expand its warehouse and distribution portfolio through acquisitions, build-to-suit transactions, sale-leaseback transactions, development projects and other transactions. For more information, please visit LXP’s website at www.lxp.com.

Forward-Looking Statements
Certain statements contained herein, other than historical fact, regarding the proposed transaction, including any statements regarding the expected timetable for completing the proposed transaction and benefits of the proposed transaction, and any other statements regarding the Company’s future expectations, beliefs, plans, objectives, financial conditions, assumptions or future events or performance that are not historical, may be considered “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, and Section 21E of the Securities Exchange Act of 1934, as amended, and are intended to be covered by the safe harbor provided by the same. These statements are based on management’s current expectations and beliefs and are subject to a number of trends and uncertainties. No forward-looking statement is intended to, nor shall it, serve as a guarantee of future performance. You can identify the forward-looking statements by the use of words such as “may,” “will,” “would,” “could,” “should,” “expect,” “intend,” “anticipate,” “estimate,” “believe,” “continue,” “seek,” “endeavor,” and other similar terms and phrases. Forward-looking statements are subject to various risks and uncertainties and factors that could cause actual results to differ materially from the Company’s expectations, and you should not rely on forward-looking statements since they involve known and unknown risks, uncertainties and other factors, which are, in some cases, beyond the Company’s control and could materially affect the Company’s results of operations, financial condition, cash flows, performance or future achievements or events. Some of the factors that may affect outcomes and results include, but are not limited to: (i) risks associated with the Company’s ability to consummate the proposed transaction and the timing of the closing of the proposed transaction, including the risks that a condition to closing would not be satisfied within the expected timeframe or at all or that the closing of the proposed transaction would not occur, (ii) the outcome of any legal proceedings that may be instituted against the parties and others related to the merger agreement and the costs related to such proceedings, and (iii) the risk that shareholder litigation or other proceedings in connection with the proposed transaction may affect the timing or occurrence of the proposed transaction or result in significant costs of defense, indemnification and liability, and (iv) the risk that the Company’s stock price may decline significantly if the proposed transaction is not consummated. Additional factors include those described under the section entitled Item 1A. “Risk Factors” of the Company’s 2025 Annual Report on Form 10-K, as filed with the SEC on February 25, 2026, and the Company’s most recent Form 10-Q, as filed with the SEC on July 29, 2026, copies of which are available at www.sec.gov. The Company undertakes no obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events, or otherwise, except as required by law.

Contact:
Investor or Media Inquiries for LXP Industrial Trust:
Heather Gentry, Executive Vice President of Investor Relations
LXP Industrial Trust
Phone: (212) 692-7200 E-mail: hgentry@lxp.com

KANSAS CITY, Mo., Oct. 26, 2026 (GLOBE NEWSWIRE) — H&R Block, Inc. (NYSE: HRB) will report fiscal 2027 first quarter results on Monday, November 9, 2026, after the New York Stock Exchange market close. At that time, a copy of the press release and presentation will be available on the company’s investor relations website at https://investors.hrblock.com/.

A conference call for analysts, institutional investors, and shareholders will be held at 4:30 p.m. Eastern time on Monday, November 9, 2026. During the conference call the company will discuss fiscal 2027 first quarter results, outlook, and give a general business update. To join live, participants must register at https://register-conf.media-server.com/register/BI46c1c99bcb2d4f8a8a49d697da287d8d. Once registered, the participant will receive a dial-in number and unique PIN to access the call. Please join approximately 5 minutes prior to the scheduled start time.

The call, along with a presentation for viewing, will also be webcast in a listen-only format for the media and public. The webcast can be accessed directly at https://edge.media-server.com/mmc/p/b3k2w7ce/lan/en and will be available for replay 2 hours after the call is concluded and continuing for 90 days.

About H&R Block
H&R Block, Inc. (NYSE: HRB) provides help and inspires confidence in its clients and communities everywhere through global tax preparation services, financial products, and small business solutions. Named CNET’s Best Overall online tax service for 2026, the company blends digital innovation with human expertise and care as it helps people get the best outcome at tax time and manage their money better using its mobile banking app, Spruce. Through Block Advisors and Wave, the company helps small-business owners thrive with year-round bookkeeping, payroll, advisory, and payment processing solutions. For more information, visit H&R Block News.

CONTACT: For Further Information

Investor Relations:
Jessica Hazel, (816) 854-4214, jessica.hazel@hrblock.com

Media Relations:
Media Desk, mediadesk@hrblock.com

CHICAGO, Oct. 26, 2026 (GLOBE NEWSWIRE) — FreightCar America, Inc. (NASDAQ: RAIL), a diversified manufacturer of railroad freight cars, today announced that it will release its third quarter 2026 financial results on Monday, November 9, 2026, after the market close, and host a teleconference to discuss its third quarter 2026 results on the following day. Teleconference details are as follows:

• Tuesday, November 10, 2026
• 11:00 a.m. Eastern Time
• Phone: 1-877-407-0789 or 1-201-689-8562
• Webcast access: https://viavid.webcasts.com/starthere.jsp?ei=1778357&tp_key=a788b0726f

Please note that the webcast is listen-only and webcast participants will not be able to participate in the question and answer portion of the conference call. Interested parties are asked to dial in approximately 10 to 15 minutes prior to the start time of the call.

An audio replay of the conference call will be available beginning at 3:00 p.m. (Eastern Time) on Tuesday, November 10, 2026, until 11:59 p.m. (Eastern Time) on Tuesday, November 24, 2026. To access the replay, please dial (844) 512-2921 or (412) 317-6671. The replay passcode is 13763137. An archived version of the webcast will also be available on the FreightCar America Investor Relations website.

About FreightCar America

FreightCar America, headquartered in Chicago, Illinois, is a leading designer, producer and supplier of railroad freight cars, railcar parts and components. We also specialize in railcar repairs, complete railcar rebody services and railcar conversions that repurpose idled rail assets back into revenue service. Since 1901, our customers have trusted us to build quality railcars that are critical to economic growth and instrumental to the North American supply chain. To learn more about FreightCar America, visit www.freightcaramerica.com.

Investor Contact:	chris@jbgcapadvisory.com

Net revenue rose 23% to $1.39 million with gross margin expanding to 40.2%, driven by B2B distribution growth and reduction in purchase costs compared with last period due to establishment of stable relationships with suppliers from 2026, which enabled SL Science Holding Limited to obtain favorable procurement terms.

Taipei, TAIWAN, Oct. 26, 2026 (GLOBE NEWSWIRE) — SL Science Holding Limited (“SL Science” or the “Company”) (NASDAQ: SLBT), a Taiwan-headquartered biomedical company specializing in developing innovative cellular and gene therapies, today announced its unaudited financial results for the six months ended June 30, 2026.

Management Commentary

“The first half of 2026 marked a period of profound structural execution and milestone achievement for SL Science. We successfully closed our business combination on June 12, and listed on the Nasdaq Global Market on June 15, supported by a concurrent $7.8 million PIPE financing. This capitalization provides the foundational strength required to advance our clinical programs. Concurrently, our deliberate pivot from direct retail to a B2B wholesale distribution model in Taiwan yielded immediate results. We drove a 23% increase in top-line revenue and expanded our gross margin to over 40% through enhanced volume predictability and optimized supplier pricing agreements,” said Mr. William Wang, Chief Executive Officer of SL Science.

“Our strategic focus remains squarely on advancing our core oncology assets. We continuously increased research and development investments by 72% over the prior year, directing critical resources toward preclinical scale-up and regulatory preparedness for both our CD-19 Armed-T and Gamma Delta T (GDT) cell therapy platforms. By securing 20-year global exclusive rights for GDT cell applications in pancreatic and brain cancers and successfully completing key manufacturing and institutional review board (IRB) preparatory milestones with HeXun Biosciences, we are systematically de-risking our pathway to the clinic. Our vision is to establish SL Science as a global clinical leader, addressing severe unmet medical needs through breakthrough, scalable cellular innovations,” Mr. Wang added.

SL Science’s First Half 2026 Financial Results

SL Bio is primarily engaged in sales of plant extract products and milk-derived exosome products to customers in Taiwan, while advancing its research and development in the biomedical industry, including with CD-19 Armed-T products and GDT cell therapy products for brain and pancreatic cancers. The following table presents selected summarized financial information derived from the Company’s consolidated statements of operations for the six months ended June 30, 2026 and 2025:

In thousands USD, except percentage data, differences due to rounding	For the six months ended June 30, 2026		For the six months ended June 30, 2025		Variance %
Net Revenue	1,387		1,129		23	%
Cost of Revenue	(829	)	(740	)	12	%
Gross Profit	558		389		43	%
General and Administrative Expenses	1,490		1,282		16	%
Research and Development Expenses	1,230		717		72	%
Total Operating Expenses	2,720		1,999		36	%
Loss from Operations	(2,162	)	(1,610	)	34	%
Net Loss	(2,162	)	(1,602	)	35	%

Net Revenue

Net revenue increased by approximately $0.26 million, or 22.8%, to approximately $1.39 million for the six months ended June 30, 2026, compared to approximately $1.13 million for the six months ended June 30, 2025. The increase was primarily attributable to the continued ramp-up of SL Bio Taiwan’s wholesale distribution model following the business transformation initiated in the third quarter of 2024, shifting from direct sales to individual end-users toward corporate distributors. Established distributor relationships and larger, more predictable business-to-business order volumes drove higher shipment levels, offsetting the lower per-unit pricing associated with wholesale transactions.

Cost of Revenue

Cost of revenue increased by approximately $0.09 million, or 12.0%, to approximately $0.83 million for the six months ended June 30, 2026, compared to approximately $0.74 million for the six months ended June 30, 2025. Cost of revenue consists primarily of purchase costs on products for resales, increasing in line with higher sales volume.

Gross Profit

Gross profit increased by 43.3% to approximately $0.56 million for the six months ended June 30, 2026, compared to approximately $0.39 million for the prior year period. Our gross profit margin improved to 40.2% from 34.5%, mainly driven by the reduction in purchase costs due to the establishment of stable relationships with suppliers, enabling favorable procurement terms.

Operating Expenses

Total operating expenses increased by approximately $0.72 million, or 36.1%, to approximately $2.72 million for the six months ended June 30, 2026, compared to approximately $2.00 million for the six months ended June 30, 2025. The increase was primarily driven by a 16.2% expansion in general and administrative expenses due to a 13.6% increase in office salaries from management team expansion and a 33.2% increase in professional service fees incurred during the listing process.

Research and development expenses increased by 71.5% to approximately $1.23 million for the six months ended June 30, 2026, from $0.72 million in the prior year period. This was mainly due to increased salaries for R&D staff and milestone payments based on the progress of CD-19 Armed-T products and GDT cell therapy products.

Net Loss

Net loss for the six months ended June 30, 2026 was approximately $2.16 million, compared to a net loss of approximately $1.60 million for the six months ended June 30, 2025.

Cash and Cash Equivalents

As of June 30, 2026, SL Science’s cash and cash equivalents stood at approximately $8.31 million compared to approximately $1.26 million as of December 31, 2025. The increase was driven primarily by net cash generated from financing activities of approximately $9.15 million, netted off with the net cash used in operating activities of approximately $2.09 million. Working capital stood at approximately $6.67 million.

SL Science Major Developments and Outlook

Gamma Delta T (GDT) Cell Therapy Platform

• Strategic Licensing & Milestones: Secured global exclusive rights from JY BioMed for GDT cell applications in pancreatic and brain cancers for a term of 20 years following product launch. The Company previously paid $1.0 million for initial R&D under its GDT licensing agreement and recognized $825,000 in expenses in H1 2026 after HeXun Biosciences successfully completed IRB specimen preparation and quality documentation milestones.
• FDA Regulatory Submissions: Advanced its regulatory footprint by submitting an Orphan Drug Designation (ODD) request (DRU-2026-11528) to the U.S. FDA for its GDT cell therapy targeting glioblastoma. The Company also filed Drug Master Files (DMF) for both its GDT cells and GDT cell-derived exosomes, establishing a standardized manufacturing foundation for future commercialization.
• Preclinical Validation: Demonstrated the platform’s efficacy through multiple global presentations. In July 2026, SL Science exhibited data at the World Congress of Basic and Clinical Pharmacology showing potent destruction of brain cancer cells in preclinical models. In September 2026, data presented at the 85^th Annual Meeting of the Japanese Cancer Association revealed that these GDT cells directly target and eliminate chemotherapy-resistant glioblastoma cells.
• Clinical Framework: Leadership co-authored a peer-reviewed framework in Biomedicines with Taipei Medical University, defining rigorous clinical development standards for GDT therapies in glioblastoma.

CD-19 Armed-T Therapy

• The Company holds a perpetual, exclusive global license from CytoArm Co., Ltd. for CD-19 Armed-T products. Following an initial payment of $277,200, SL Science is positioned to complete up to NTD 133 million (~$4.10 million) in milestone payments to advance this blood cancer therapy through clinical development.

Recent Corporate Milestones

• Nasdaq Listing: Closed its business combination on June 12, 2026, with ordinary shares commencing trading under the ticker “SLBT” on June 15, 2026. Leadership rang the Nasdaq closing bell on September 2, 2026, to celebrate its first quarter as a public company.
• Capital Formation: Secured a concurrent $7.8 million PIPE financing alongside the listing to accelerate growth and operational capabilities.
• Share Incentive Plan: Approved the 2026 Share Incentive Plan to attract and retain top talent, authorizing up to 85,000,000 ordinary shares for awards.

About SL Science Holding Limited

SL Science Holding Limited is a biomedical company specializing in developing innovative cellular and gene therapies. Established with a commitment to advancing regenerative medicine and cancer treatment, the Company hopes to utilize immune cell technologies to target cancer, thus potentially offering expansive medical applications for its products. With technologies such as Gamma Delta T cells targeting solid tumor indications including pancreatic and brain cancers, SL Science aims to create cellular therapies that the Company believes have the potential to advance the cell therapy and immuno-oncology sector within the broader biopharmaceutical industry. For more information, please visit the Company’s website at: https://www.slbtgroup.com/ and follow SLBT on X, LinkedIn, FB, IG and Threads.

Forward-Looking Statements

This press release contains certain forward-looking statements within the meaning of the federal securities laws with respect to the business of SL Science. These forward-looking statements generally are identified by the words “believe,” “project,” “expect,” “anticipate,” “estimate,” “intend,” “strategy,” “future,” “opportunity,” “plan,” “may,” “should,” “will,” “would,” “will be,” “will continue,” “will likely result,” and similar expressions. Forward-looking statements are predictions, projections, and other statements about future events that are based on current expectations and assumptions and, as a result, are subject to risks and uncertainties. The data described above are preclinical and do not establish the clinical safety or efficacy of any product; preclinical results are frequently not predictive of clinical outcomes. Many factors could cause actual future events to differ materially, including the ability to implement the Company’s business plans and clinical trials; to obtain and maintain regulatory approvals and rights under its license arrangements; the potential for its products to reach commercialization; and the Company’s need for additional capital. The Company assumes no obligation to update these forward-looking statements, except as required by applicable law.

Contact Details:

SL Science Holding Limited
Tel: +886-2-26516826
Email: ir@slbtgroup.com

WFS Investor Relations Inc.
Email: services@wfsir.com
+1 628 283 9214

SL SCIENCE HOLDING LIMITED AND SUBSIDIARIES
INTERIM CONSOLIDATED BALANCE SHEETS
AS OF JUNE 30, 2026 (UNAUDITED) AND DECEMBER 31, 2025

		June 30, 2026				December 31, 2025
			(Unaudited)
ASSETS
CURRENT ASSETS
Cash and cash equivalents		$	8,306,692			$	1,258,616
Inventories			73,267				–
Prepaid expenses and other current assets			234,340				167,612
Tax recoverable			–				597
TOTAL CURRENT ASSETS			8,614,299				1,426,825
Operating lease right-of-use assets, net			136,913				212,324
Plant and equipment, net			159,926				248,894
Deferred offering costs			–				929,137
TOTAL ASSETS		$	8,911,138			$	2,817,180
LIABILITIES AND SHAREHOLDERS’ EQUITY
CURRENT LIABILITIES
Operating lease liabilities, current		$	137,598				148,663
Accrued expenses and other liabilities			202,850				319,872
Due to Director			1,600,000				–
TOTAL CURRENT LIABILITIES			1,940,448				468,535
Operating lease liabilities, non-current			–				64,742
TOTAL LIABILITIES			1,940,448				533,277
Ordinary shares, $0.00001 par value; 4,950,000,000 shares authorized, 560,759,740 and 556,800,001 shares issued and outstanding as of June 30, 2026 and December 31, 2025, respectively*		$	5,608			$	5,568
Series A preferred shares, $0.00001 par value, 50,000,000 shares authorized, 780,000 shares issued and outstanding as of June 30, 2026			8				–
Additional paid-in-capital			14,157,893				7,293,276
Accumulated deficits			(7,646,583	)			(5,484,378	)
Accumulated other comprehensive income			453,764				469,437
Total shareholders’ equity			6,970,690				2,283,903
TOTAL LIABILITIES AND SHAREHOLDERS’ EQUITY		$	8,911,138			$	2,817,180

SL SCIENCE HOLDING LIMITED AND SUBSIDIARIES
UNAUDITED INTERIM CONSOLIDATED STATEMENTS OF OPERATIONS AND
COMPREHENSIVE INCOME (LOSS)

		For the Six Months Ended June 30,
		2026				2025
Revenue		$	1,386,608			$	1,129,238
Cost of revenue			(829,124	)			(740,172	)
Gross profit			557,484				389,066
Operating expenses
General and administrative expenses			1,489,663				1,281,786
Research and development expenses			1,229,998				268,451
Research and development expenses – related party			–				448,571
Total operating expenses			2,719,661				1,998,808
Loss from operations			(2,162,177	)			(1,609,742	)
Other income (expenses)
Other (expenses) income, net			(7,549	)			(21,358	)
Interest income			7,521				29,007
Total other income (expenses), net			(28	)			7,649
Loss before income tax			(2,162,205	)			(1,602,093	)
Income tax credit (expense)			–				4
Net loss		$	(2,162,205	)		$	(1,602,089	)
Other comprehensive loss, net of tax:
Change in cumulative foreign currency translation			(15,673	)			469,815
Comprehensive loss		$	(2,177,878	)		$	(1,132,274	)
Basic net (loss) income per share*			(0.00	)			(0.00	)
Basic weighted average number of shares outstanding*			557,215,664				556,800,001
Diluted net (loss) income per share*			(0.00	)			(0.00	)
Diluted weighted average number of shares outstanding*			557,215,664				556,800,001

SL SCIENCE HOLDING LIMITED AND SUBSIDIARIES
UNAUDITED INTERIM CONSOLIDATED STATEMENTS OF CASH FLOWS
FOR THE SIX MONTHS ENDED JUNE 30, 2026 AND 2025

						For the Six Months
						Ended June 30,
		Note				2026				2025
CASH FLOWS FROM OPERATING ACTIVITIES
Net loss						$	(2,162,205	)		$	(1,602,089	)
Adjustments to reconcile net loss to net cash used in operating activities
Depreciation expenses			5				84,838				5,937
Lease expenses			6				—				76,627
Changes in operating assets and liabilities
Inventories							(73,267	)			650,498
Prepaid expenses and other current assets							175,773				195,674
Accrued expenses and other liabilities							(117,022	)			167,346
Deferred tax liabilities							—				(4,390	)
Amount due to an affiliate							—				444,477
Operating lease liabilities							(396	)			(68,237	)
Tax refund							597				—
Net cash (used in) operating activities							(2,091,682	)			(134,157	)
CASH FLOWS FROM INVESTING ACTIVITIES
Acquisition of plant and equipment			5				—				(317,676	)
Net cash (used in) investing activities							—				(317,676	)
CASH FLOWS FROM FINANCING ACTIVITIES
Proceeds from Director							1,600,000				—
Proceeds from reverse recapitalization							155,574				—
Proceeds from PIPE units							7,800,000				—
Payment of offering cost related to reverse recapitalization							(404,273	)			(614,373	)
Net cash provided by (used in) financing activities							9,151,301				(614,373	)
Effect of change in exchange rate							(11,543	)			473,972
NET INCREASE / (DECREASE) IN CASH AND CASH EQUIVALENTS							7,048,076				(592,234	)
Cash and cash equivalents, beginning of year							1,258,616				4,137,526
Cash and cash equivalents, end of year						$	8,306,692			$	3,545,292
SUPPLEMENTAL CASH FLOW INFORMATION:
Income taxes paid						$	—			$	—
Interest paid						$	—			$	—
SUPPLEMENTAL DISCLOSURE OF NON-CASH INVESTMENT AND FINANCIAL ACTIVITIES INFORMATION:
Addition to operating lease right-of-use assets and lease liabilities						$	—			$	344,702
Reclassification of deferred offering costs to additional paid-in capital upon business combination						$	1,333,410			$	—
Assets acquired from reverse recapitalization						$	242,501			$	—
Liabilities assumed from reverse recapitalization (settled by working capital loan)						$	1,001,134			$	—