Month: October 2026

Third Quarter 2026 Financial Highlights

• Record Revenue: $1.2 billion, up 57% year-over-year, marking the first $1 billion-plus revenue quarter in INNIO’s history
• Equipment Growth: Equipment revenue increased 86% year-over-year to $777.6 million, reflecting disciplined backlog execution and large-scale data center deliveries
• Services Growth: Services revenue reached $390.3 million, up 20% year-over-year, supported by the Company’s growing installed base
• Continued Order Momentum: Equipment Order Intake reached $2.2 billion, up 10% year-over-year, with broad-based momentum across Data Center and Compression
• Equipment Order Backlog: $8.0 billion, up 142% year-over-year, further increasing multi-year revenue visibility
• Net income: $109.2 million in Q3 2026, compared with $39.5 million in Q3 2025
• Strong Profitability: Adjusted EBITDA¹ increased 70% year-over-year to $245.4 million, with growth outpacing revenue while INNIO continued to invest in manufacturing capacity
• Raised Fiscal Year 2026 outlook: Total Revenue guidance raised by $100 million to $3.9 – $4.0 billion and Adjusted EBITDA² guidance raised by $60 million to $780 – $800 million

MUNICH, Oct. 27, 2026 (GLOBE NEWSWIRE) — INNIO N.V. (Nasdaq: INIO), a leading global distributed energy solutions provider, today reported financial results for the third quarter ended September 30, 2026. INNIO delivered record quarterly revenue of $1.2 billion, an increase of 57% year-over-year. Net income in Q3 2026 was $109.2 million, compared to $39.5 million in the prior-year period, increasing 176% year-over-year. Adjusted EBITDA rose 70% to $245.4 million, with a margin of 21%, as increased Equipment deliveries and improved margins demonstrated progress in converting backlog into profitable growth. Based on its year-to-date performance, INNIO raised its fiscal 2026 outlook for Total Revenue to $3.9 to $4.0 billion, up from $3.8 to $3.9 billion and for Adjusted EBITDA to $780 – $800 million, up from $720 to $740 million.

“INNIO delivered a record quarter, exceeding $1 billion in revenue for the first time and achieving a 21% Adjusted EBITDA margin. With more than $6 billion in Equipment Order Intake year-to-date, we are scaling capacity to meet accelerating demand, particularly for AI infrastructure. Every engine we deliver supports profitable growth today and creates high-margin Services opportunities for decades to come,” said Dr. Olaf Berlien, President and CEO of INNIO.

“Equipment margins improved again this quarter as deliveries increased, while Services continued to deliver strong profitability. At the same time, we continue to invest in manufacturing capacity to support future growth. Based on our performance and outlook, we are raising our full-year revenue and Adjusted EBITDA guidance,” said Dr. Dennis Schulze, CFO of INNIO.

Outlook		Fiscal Year 2026 Outlook		Fiscal Year 2025
Total Revenue		$3.9 – $4.0 billion		$2.6 billion
Adjusted EBITDA		$780 – $800 million		$549 million

Company Updates

• 620 MW follow-on order – adding to the 1.1 GW booked in Q2 2026 – and a long-term lifecycle service agreement for the first 500 MW of previously ordered capacity, including major overhauls extending into a second engine lifetime
• 450 MW order for next generation data center projects in North America from Liberty Energy – with behind-the-meter power solutions to be delivered by 2028
• Long-term extension of strategic partnership with Aggreko through 2031 – includes a minimum of 450 MW of Jenbacher engine capacity to be ordered and delivered by the end of 2027 and access to agreed capacity levels for the remainder of the agreement and a multi-year service agreement for the existing fleet
• Closing of Enerflex APAC Aftermarket service business on September 30, 2026 – aimed at strengthening INNIO’s presence in the Asia-Pacific (APAC) region and expanding its ability to serve customers through enhanced local service capabilities and greater customer proximity

Group Results

	Three Months Ended September 30,						Nine Months Ended September 30,
($ in millions, other than percentages, per share and GW amounts)	2026			2025			2026			2025
GAAP Metrics
Net sales	1,167.9			742.7			2,774.2			1,896.2
Net income (loss)	109.2			39.5			83.3			136.9
Net Income (loss) margin	9.4	%		5.3	%		3.0	%		7.2	%
Diluted EPS	0.15			0.05			0.12			0.18
NON-GAAP Metrics
Adjusted EBITDA	245.4			144.2			540.2			402.2
Adjusted EBITDA Margin	21.0	%		19.4	%		19.5	%		21.2	%
Adjusted Net Income3	111.1			46.3			177.5			148.6
Diluted Adjusted EPS3	0.15			0.06			0.24			0.20
Key Performance Indicators
Equipment Order intake4	2,175.9			1,975.2			6,083.8			3,178.4
Equipment Order Backlog4	7,963.4			3,292.9			7,963.4			3,292.9
Power Delivered (GW)	1.2			1.1			3.0			2.5

INNIO’s Q3 2026 growth was led by Data Center deliveries and continued Services demand. Total revenue was $1.2 billion in Q3 2026, an increase of 57% year-over-year, while year-to date revenue rose 46% to $2.8 billion.

Net income in Q3 2026 was $109.2 million, compared to $39.5 million in the prior-year period, increasing 176% year-over-year. The increase in net income was supported by strong revenue growth and improved profitability. The increase was partially offset by higher interest and related financing costs and income tax expense. For the first nine months of 2026, Net income was $83.3 million, compared with $136.9 million in the prior-year period, and included $93.6 million of IPO and public market readiness costs. Net income margin was 9% in Q3 2026 compared to 5% in Q3 2025 and 3% year-to-date compared to 7% for the first nine months of 2025. Adjusted Net Income was $111.1 million in the third quarter of 2026, compared to $46.3 million in the prior-year period. Adjusted Net Income was $177.5 million year-to-date, compared with $148.6 million in the prior-year period.

Adjusted EBITDA was $245.4 million in the quarter, up 70% year-over-year, and rose 34% to $540.2 million for the first nine months of 2026. The increase in Adjusted EBITDA was primarily attributable to higher Adjusted Segment EBITDA in both the Equipment and Services segments. This was driven by the conversion of the expanded Equipment Order Backlog, improvements in production, and strong customer demand for spare parts, remanufacturing, and long-term service agreements. Adjusted EBITDA for the quarter also reflected continued investments in product innovations and the expansion of manufacturing capacity in North America and Austria.

Equipment Order Backlog reached a record $8.0 billion as of September 30, 2026, an increase of 142% year-over-year. Supported by strong demand for Data Center and Compression applications, the backlog provides substantial multi-year revenue visibility and creates opportunities for additional Services revenue as equipment is delivered and enters operation. Equipment Order Backlog was $6.6 billion at the end of the second quarter of 2026 and $3.3 billion at the end of the third quarter of 2025.

Reporting Segments

Equipment

	Three Months Ended September 30,						Nine Months Ended September 30,
($ in millions, other than percentages and GW amounts)	2026			2025			2026			2025
Equipment
Revenue	777.6			417.4			1,669.3			981.7
Adjusted Segment EBITDA	132.8			65.7			234.4			160.1
Adjusted Segment EBITDA Margin	17.1	%		15.7	%		14.0	%		16.3	%
Power Delivered (GW)	1.2			1.1			3.0			2.5

INNIO’s Equipment segment delivered another quarter of strong growth. Equipment Order Intake was $2.2 billion in Q3 2026, an increase of 10% on top of a record prior-year quarter, driven by continued Data Center momentum and strong Compression demand.

Equipment Order Intake totaled $6.1 billion for the first nine months of 2026, compared with $3.2 billion in the prior-year period.

Equipment revenue rose 86% to $777.6 million in Q3 2026 and increased 70% to $1.7 billion year-to-date. Adjusted Segment EBITDA more than doubled to $132.8 million for the quarter and grew 46% to $234.4 million for the first nine months of 2026. The growth in revenue and Adjusted Segment EBITDA was primarily attributable to disciplined Order Backlog execution and large-scale data center deliveries, supported by improvements in production and the ongoing self-funded expansion of manufacturing capacity.

Power Delivered was 1.2 GW in Q3 2026 compared to 1.1 GW in Q3 2025.

Services

	Three Months Ended September 30,						Nine Months Ended September 30,
($ in millions, other than percentages)	2026			2025			2026			2025
Service
Revenue	390.3			325.3			1,104.9			914.5
Adjusted Segment EBITDA	123.7			90.1			343.4			266.1
Adjusted Segment EBITDA Margin	31.7	%		27.7	%		31.1	%		29.1	%

INNIO’s Services segment delivered continued growth supported by the Company’s growing installed base. Services revenue grew 20% to $390.3 million in Q3 2026 and increased 21% to $1.1 billion year-to-date. The revenue growth reflects the consistent conversion of strong Equipment sales into a long-term high-margin Services business.

Services Adjusted Segment EBITDA increased 37% to $123.7 million in Q3 2026 and grew 29% to $343.4 million for the first nine months of the year, reflecting sustained demand across spare parts, remanufacturing, and long-term service agreements.

The financial information presented in this release is unaudited. Additional information regarding INNIO’s third quarter 2026 results will be available in the Company’s Quarterly Report on Form 10-Q for the quarter ended September 30, 2026, which the Company expects to file with the U.S. Securities and Exchange Commission.

Conference Call Information

INNIO Group will host a conference call and webcast at 8:00 a.m. EDT on October 27, 2026, to discuss its third quarter 2026 results. The webcast will be available at http://investors.innio.com. A replay will be available for 365 days following the call.

About INNIO N.V.

INNIO N.V. (Nasdaq: INIO) is a global distributed energy solutions provider that delivers reliable, flexible, transient, decentralized, modular, and efficient power. With a track record of innovation, INNIO designs, manufactures, and services high-performance power systems under its Jenbacher and Waukesha brands. The company delivers power for applications including data centers, microgrids, grid stabilization, industrial energy, and gas compression.

INNIO has global coverage across approximately 100 countries as of December 31, 2025, supported by a resilient, high-margin services business that delivers long-term, recurring revenues across the full equipment lifecycle. As electricity demand accelerates—driven by AI, electrification, and grid constraints—INNIO enables scalable, behind-the-meter power generation with high efficiency, fast-start capability, strong transient performance, and fuel flexibility, including hydrogen-ready solutions. Headquartered in Munich, Germany, INNIO employs over 5,000 people worldwide and is committed to moving energy forward.

Contacts
Media Contact
Stefan Schmidt, INNIO
+43 664 80833 2626
stefan.schmidt@innio.com

Alexander Becker, INNIO
+43 664 80833 1998
alexander.becker@innio.com

Investor Relations
Timothy Furcillo, INNIO
+1 262 269 0525
timothy.furcillo@innio.com

Forward-Looking Statements

This press release includes forward-looking statements within the meaning of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. All statements other than statements of historical fact contained in this press release, including statements regarding our future results of operations and financial position, industry dynamics, business strategy and plans and our objectives for future operations are forward-looking statements. In some cases, you can identify forward-looking statements by terms such as “may,” “will,” “should,” “aim,” “expect,” “plan,” “anticipate,” “could,” “intend,” “target,” “project,” “contemplate,” “believe,” “estimate,” “predict,” “potential” or “continue” or the negative of these words or other similar terms or expressions that are intended to identify forward-looking statements.

These forward-looking statements involve known and unknown risks, uncertainties, changes in circumstances that are difficult to predict and other important factors that may cause our actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statement including, but not limited to: changes in macroeconomic and market conditions and market volatility, including risk of recession, inflation, supply chain constraints or disruptions, interest rates, the value of securities and other financial assets, oil, natural gas and other commodity prices and exchange rates, and the impact of such changes and volatility on our business operations, financial results and financial position; global economic trends, competition and geopolitical risks, including impacts from the ongoing geopolitical conflicts (such as the Iran conflict, Russia-Ukraine conflict, ongoing tensions between the United States and China and China and Taiwan), demand or supply shocks from events such as a major terrorist attack, natural disasters or actual or threatened public health pandemics or other emergencies, or an escalation of sanctions, tariffs or other trade tensions, and related impacts on our supply chains and strategies; our ability to successfully execute our business and growth strategy; our future financial performance, including our expectations regarding the performance of our Services segment, our revenue, operating expenses and ability to remain profitable; economic and industry trends, projected growth, or trend analysis, particularly as it relates to AI; our ability to develop and introduce new technologies to meet market demand and evolving customer needs, which depends on many factors, including the ability to obtain any required permits, licenses, and registrations; our ability to attract and retain highly qualified personnel; our expectations concerning relationships with our channel partners and distribution network; our ability to manage and predict our backlog; actual or perceived quality issues or safety failures related to our complex and specialized products, solutions and services; significant disruptions in our supply chain, including the high cost or unavailability of raw materials, components, and products essential to our business, and significant disruptions to our manufacturing and production facilities and distribution networks; our ability to obtain, maintain, protect, and effectively enforce our intellectual property rights; our capital allocation plans, including the timing and amount of dividends; shifts in market and other dynamics related to electrification, decarbonization or sustainability; the amount and timing of our cash flows and earnings, which may be impacted by macroeconomic, customer, supplier, competitive, contractual and other dynamics and conditions; actions by our joint venture arrangements and similar collaborations with third parties for certain projects that result in additional costs and obligations; any reductions or modifications to, or the elimination of, governmental incentives or policies that support renewable energy and energy transition innovation and technology; our ability to stay in compliance with laws and regulations that currently apply or may become applicable to our business both in the United States and internationally and changes in law, regulation or policy that may affect our businesses; our ability to maintain the security and availability of our platform and protect against data breaches and other security incidents; our ability and challenges to our operations as a public company, including the increased expenses associated with being a public company, or achieve some or all of the benefits we expect to achieve; the risk of significant volatility in our share price; our ability to retain tax residency in Germany; our ability to remediate the material weaknesses we identified in our internal control over financial reporting or prevent material weaknesses in the future; and other statements regarding our future operations, financial condition, and prospects and business strategies. In light of these risks, uncertainties and assumptions, the forward-looking events and circumstances discussed in this press release may not occur and actual results could differ materially and adversely from those anticipated or implied in the forward-looking statements. We caution you therefore against relying on these forward-looking statements, and we qualify all of our forward-looking statements by these cautionary statements. For additional information on other potential risks and uncertainties that could cause actual results to differ from expected results, please refer to our filings with the Securities and Exchange Commission.

The forward-looking statements included in this press release are made only as of the date hereof. The Company undertakes no obligation to update any forward-looking statements for any reason after the date of this press release to conform these statements to actual results or to changes in our expectations, except as may be required by law.

INNIO N.V.
Consolidated Statements of Operations
(Unaudited)
	Three Months Ended September 30,						Nine Months Ended September 30,
(in millions of $, except share and per share amounts)	2026			2025			2026			2025
Sales of equipment and products	$	777.6		$	417.4		$	1,669.3		$	981.7
Sales of services	390.3			325.3			1,104.9			914.5
Net sales	1,167.9			742.7			2,774.2			1,896.2
Cost of equipment and products sold	580.4			310.6			1,242.8			708.1
Cost of services sold	219.8			191.5			622.0			529.7
Gross profit	367.7			240.6			909.4			658.4
Selling, general, and administrative expenses	142.6			119.0			517.8			317.4
Research and development expenses	32.2			30.3			93.0			76.8
Other operating (income) expense – net	(0.7)			(1.3)			(3.2)			(4.4)
Operating income	193.6			92.6			301.8			268.6
Interest expense and related financing costs – net	46.9			34.9			170.6			84.9
Other (income) expense – net	(4.0)			3.3			(10.9)			1.8
Income before income taxes	150.7			54.4			142.1			181.9
Income tax expense	41.5			14.9			58.8			45.0
Net income (loss)	109.2			39.5			83.3			136.9
Net income (loss) attributable to non-controlling interests	(1.8)			(0.5)			(5.2)			(0.6)
Net income (loss) attributable to INNIO N.V. shareholders	$111.0			$40.0			$88.5			$137.5
Earnings (loss) per share attributable to INNIO N.V.:
Basic	0.15			0.05			0.12			0.18
Diluted	0.15			0.05			0.12			0.18
Weighted-average number of shares outstanding:
Basic	750,000,000			750,000,000			750,000,000			750,000,000
Diluted	750,000,000			750,000,000			750,016,904			750,000,000

INNIO N.V.
Consolidated Statements of Comprehensive Income / (Loss)
(Unaudited)
	Three Months Ended September 30,						Nine Months Ended September 30,
(in millions of $)	2026			2025			2026			2025
Net income (loss)	$	109.2		$	39.5		$	83.3		$	136.9
Other comprehensive income (loss), net of taxes:
Defined benefit plans	1.6			—			0.6			0.6
Currency translation adjustments	0.3			1.3			16.1			38.9
Cash flow hedges	12.2			9.2			2.7			1.7
Total other comprehensive income (loss), net of taxes	14.1			10.5			19.4			41.2
Comprehensive income (loss)	123.3			50.0			102.7			178.1
Less: comprehensive income (loss) attributable to the noncontrolling interests	(1.8)			(0.7)			(5.4)			(0.8)
Comprehensive income (loss) attributable to INNIO N.V. shareholders	$	125.1		$	50.7		$	108.1		$	178.9

INNIO N.V.
Consolidated Statements of Financial Position
(Unaudited)
(in millions of $, except share data)	September 30, 2026			December 31, 2025
Assets
Current Assets
Cash and cash equivalents	$	1,195.8		$	689.5
Accounts receivable – net	262.9			204.4
Inventories	1,078.2			601.2
Prepaid expenses	184.3			117.9
Other current assets	201.6			180.8
Total current assets	2,922.8			1,793.8
Property, plant, and equipment – net	671.0			540.4
Goodwill	1,666.8			1,686.6
Intangible assets – net	700.0			777.3
Other non-current assets	185.8			104.4
Total assets	$	6,146.4		$	4,902.5
Liabilities
Current liabilities
Accounts payable	$	546.3		$	273.3
Contract liabilities	1,101.0			546.2
Accrued liabilities	215.5			186.1
Obligations under supplier finance programs	192.4			157.0
Obligations related to factoring arrangements	28.9			59.5
Other current liabilities	213.2			153.7
Total current liabilities	2,297.3			1,375.8
Long-term debt – net	2,596.1			2,647.4
Contract liabilities	497.2			269.9
Deferred taxes	214.8			214.6
Other non-current liabilities	194.8			166.7
Total liabilities	5,800.2			4,674.4
Commitments and guarantees
Shareholders’ equity
Common stock, €0.04 nominal value; 750,000,000 shares issued and outstanding	34.9			34.9
Additional paid-in capital	115.5			103.2
Retained earnings	188.8			100.3
Accumulated other comprehensive loss	(1.0)			(20.6)
Total INNIO N.V. shareholders’ equity	338.2			217.8
Non-controlling interests	8.0			10.3
Total shareholders’ equity	346.2			228.1
Total liabilities and shareholders’ equity	$	6,146.4		$	4,902.5

INNIO N.V.
Consolidated Statements of Cash Flows
(Unaudited)
	Nine Months Ended September 30,
(in millions of $)	2026			2025
Net income	$	83.3		$	136.9
Adjustments to reconcile net income to cash from operating activities
Depreciation of property, plant, and equipment	50.6			41.4
Amortization of intangible assets	66.8			71.8
Foreign currency losses (gains)	37.2			(11.3)
Amortization of operating lease right-of-use assets	17.6			13.0
Loss from repurchase of sale and lease back	—			4.6
Other non-cash expense (income)	55.5			20.5
Changes in assets and liabilities
Accounts receivable	(48.6)			(34.1)
Inventories	(484.6)			(149.3)
Prepaid expenses	(66.7)			(66.0)
Accounts payable	283.9			37.6
Contract liabilities	797.0			344.7
Accrued liabilities	29.7			(16.5)
All other assets and liabilities	(80.2)			(83.9)
Net cash provided by operating activities	741.5			309.4
Additions to property, plant, and equipment	(187.3)			(67.6)
Additions to intangible assets	(11.8)			(14.0)
Acquisitions, net of cash acquired	(44.6)			—
All other investing activities	0.4			2.4
Net cash used for investing activities	(243.3)			(79.2)
Repayment of loans and borrowings	(7.3)			(4.5)
Proceeds from loans and borrowings	—			35.2
Proceeds / (payments) from supplier finance programs, net	41.0			51.1
Payments for obligations from finance lease and sale-and-leaseback transactions	(7.8)			(3.4)
Payments on repurchase of sale and lease back	—			(52.6)
Proceeds from contribution from non controlling interest	3.1			10.6
Transaction costs related to new loans and refinancing of existing loans	(7.1)			—
All other financing activities	(2.8)			(2.1)
Net cash provided by financing activities	19.1			34.3
Effect of currency exchange rate changes on cash and cash equivalents	(11.0)			16.4
Increase in cash and cash equivalents	506.3			280.9
Cash and cash equivalents at the beginning of the period	689.5			378.5
Cash and cash equivalents at the end of the period	$	1,195.8		$	659.4
Supplemental disclosure of cash flows information
Cash paid during the period for interest	(131.3)			(127.0)

Non-GAAP Financial Measures and Key Performance Indicators

Non-GAAP Financial Measures

We report our financial results in accordance with U.S. GAAP. We believe that certain non-GAAP financial measures provide our investors with additional useful information in evaluating our performance. We believe that excluding certain items that may vary substantially in frequency and magnitude period-to-period from net income creates useful, supplemental measures that may assist our investors in evaluating our ability to generate earnings and to more readily compare these metrics between past and future periods. These non-GAAP financial measures may be different from similarly titled measures used by other companies.

We define Adjusted EBITDA as net income as adjusted for (i) income tax expense, (ii) interest and other financial charges – net, (iii) other non–operating (income)/expense – net, (iv) depreciation and amortization, (v) other non–cash items, (vi) IPO and public market readiness costs, (vii) transformation costs, (viii) transaction costs, (ix) acquisition and divestment related gains and losses and (x) share-based compensation. We define Adjusted EBITDA Margin as Adjusted EBITDA divided by revenue.

We define adjusted net income (“Adjusted Net Income”) as net income (loss) attributable to INNIO N.V. shareholders as adjusted for ((i) management adjustments comprising (a) IPO and public market readiness costs, (b) transformation costs, (c) transaction costs, (d) acquisition and divestment related gains and losses and (e) share-based compensation expense and (ii) adjusted tax effects from management adjustments. We define adjusted earnings per share (“Diluted Adjusted EPS”) as Adjusted Net Income divided by the weighted-average number of common shares issued and outstanding and the dilutive effect computed under the treasury stock method of potential common shares issued (RSUs awarded). Diluted Adjusted EPS, derived from Adjusted Net Income is a non-GAAP financial measure used by our management to provide additional perspective and insights when analyzing the core operating performance of the Company from period to period and trends in the Company’s historical operating results. Accordingly, we believe these measures provide useful information to investors in understanding and evaluating our operating results in the same manner as our management.

Adjusted EBITDA and Adjusted EBITDA Margin should not be considered in isolation from, or as a substitute for, financial information prepared in accordance with GAAP. There are several limitations related to the use of Adjusted EBITDA and Adjusted EBITDA Margin as compared to the closest comparable GAAP measure. Some of these limitations are that this measure excludes:

• depreciation and amortization, a non-cash expense, where the assets being depreciated and amortized may have to be replaced in the future, and this measure does not reflect cash capital expenditure requirements for such replacements or for new capital expenditure requirements;
• interest and other financial charges – net, or the cash requirements necessary to service interest or principal payments on our indebtedness, which reduces cash available to us;
• provision for income taxes, which may represent a reduction in cash available to us; and
• other income for certain non-cash items that are not reflective of our ongoing operational results.

Accordingly, prospective investors should not place undue reliance on Adjusted EBITDA and Adjusted EBITDA Margin.

Diluted Adjusted EPS should not be considered in isolation from, or as a substitute for, financial information prepared in accordance with GAAP such as GAAP diluted earnings per share (“Diluted EPS”). We have provided Diluted Adjusted EPS, as supplemental information and in addition to Diluted EPS which is calculated and presented in accordance with GAAP. Diluted Adjusted EPS is presented because management has evaluated the Company’s financial results both including and excluding the adjusted items and believes that Diluted Adjusted EPS provides additional perspective and insights when analyzing the core operating performance of the Company from period to period and trends in the Company’s historical operating results.

Key Performance Indicators

Equipment Order Backlog is defined as Equipment Order Intake that has not yet been fulfilled towards the customer. Equipment Order Backlog is measured as of the end of a given period.

Equipment Order Intake is defined as the booking of a new sales order for the Equipment segment within a given period when specific criteria are met, including a signed contract, defined scope, fixed price, delivery schedule, and fully defined terms and conditions. The order must have a low probability of cancellation, all necessary approvals and risk reviews completed, and any required down payment (if any) received. Equipment Order Intake is measured over a given period.

Power Delivered is defined as the aggregate electrical power output, measured in gigawatts (GW) of engines/gensets for which revenue has been recognized in the relevant period. Specifically, Power Delivered is calculated as the sum across all delivered units of the nameplate electrical output, measured in megawatts (MW) of each engine/genset multiplied by the respective quantity recognized. For our compression business line, Power Delivered is calculated by converting horsepower output into megawatts. Power Delivered is measured over a given period.

Reconciliations of GAAP to Non-GAAP Financial Measures

The following table reconciles Adjusted EBITDA and Adjusted EBITDA Margin from the most directly comparable GAAP metric, net income, for the periods presented:

	Three Months Ended September 30,						Nine Months Ended September 30,
($ in millions, other than percentages)	2026			2025			2026			2025
Net income (loss)	109.2			39.5			83.3			136.9
Income tax expense	41.5			14.9			58.8			45.0
Interest expense and related financing costs – net	46.9			34.9			170.6			84.9
Other (income) expense – net	(4.0)			3.3			(10.9)			1.8
Depreciation and amortization	39.1			41.1			117.4			113.2
Other non-cash items (a)	2.5			2.3			8.0			6.0
IPO and Public market readiness costs (b)	2.5			4.8			93.6			4.9
Transformation costs (c)	2.0			2.7			7.3			8.4
Transaction costs (d)	0.1			0.1			4.7			0.1
Acquisition and divestment related gains (losses) – net (e)	1.7			0.6			2.4			1.0
Share-based compensation (f)	3.9			—			5.0			—
Adjusted EBITDA	245.4			144.2			540.2			402.2
Adjusted EBITDA Margin	21.0	%		19.4	%		19.5	%		21.2	%

(a) Other non–cash items include amortization expenses of capitalized costs to obtain contracts.

(b) IPO and Public market readiness costs include costs that the Company incurs to implement financial statements in US GAAP, including: implementing SOX-compliant internal controls, improving processes and organization required for public US markets, bonuses linked to successful public offering including long-term incentive plans, and legal and advisory fees related to INNIO’s IPO. During the nine months ended September 30, 2026, the Company incurred the following costs:

	Long-term incentive program 2023	$61.5 million
	Costs related to financial statements in US GAAP and comfort letter costs related to S1 filing	$18.8 million
	Others	$5.9 million
	Advisory fees	$4.6 million
	Legal fees	$2.8 million

(c) Transformation costs include costs in a given year incurred in relation to significant operational change initiatives and the ramp-up of supply chain capacity. This includes the ramp up of our business transformation efforts to support our capacity expansion initiatives to strengthen internal manufacturing and supply chain foundations, supported by dedicated third–party expertise to accelerate the capacity uplift. Costs also include those associated with streamlining management structures, processes and operational performance.

(d) Transaction costs include legal and professional fees related to our legal reorganization, as described in “—Organizational History,” in our quarterly report on Form 10-Q for the period ended September 30, 2026, expects to file with the Securities and Exchange Commission on October 27, 2026 and adapting INNIO’s financing structure.

(e) Acquisition and divestment related gains and losses incurred in connection with planned and completed acquisitions, including legal and professional fees. Contingent consideration arrangements (earn–outs) relate to specific acquisitions.

(f) Share-based compensation represents RSUs awarded under the 2026 Incentive Award Plan.

The following table reconciles Diluted Adjusted EPS from the most directly comparable GAAP metric, Diluted EPS, for the periods presented. Diluted Adjusted EPS is based on the Company’s 750,000,000 common shares issued and outstanding and the dilutive impact, computed under the treasury stock method, of 1,702,100 RSUs outstanding for the three and nine months ended September 30, 2026.

	Three Months Ended September 30,				Nine Months Ended September 30,
($ in millions, other than share and per share amounts)	2026		2025		2026		2025
Total Adjusted Segment EBITDA	256.5		155.8		577.8		426.2
Unallocated corporate costs (HQ & other not included in Adjusted Segment EBITDA)	(11.1)		(11.6)		(37.6)		(24.0)
Adjusted EBITDA	245.4		144.2		540.2		402.2
Acquisition and Divestment related gains (losses) – net	(1.7)		(0.6)		(2.4)		(1.0)
Transaction costs	(0.1)		(0.1)		(4.7)		(0.1)
Transformation costs	(2.0)		(2.7)		(7.3)		(8.4)
IPO and Public market readiness costs	(2.5)		(4.8)		(93.6)		(4.9)
Share-based compensation	(3.9)		—		(5.0)		—
Management adjustments	(10.2)		(8.2)		(113.0)		(14.4)
Other non-cash items	(2.5)		(2.3)		(8.0)		(6.0)
Depreciation and amortization	(39.1)		(41.1)		(117.4)		(113.2)
Other income (expense) – net	4.0		(3.3)		10.9		(1.8)
Interest expense and related financing costs – net	(46.9)		(34.9)		(170.6)		(84.9)
Income tax expense	(41.5)		(14.9)		(58.8)		(45.0)
Net income	109.2		39.5		83.3		136.9
Net income (loss) attributable to non-controlling interests	(1.8)		(0.5)		(5.2)		(0.6)
Net income (loss) attributable to INNIO N.V. shareholders	111.0		40.0		88.5		137.5
Diluted EPS	0.15		0.05		0.12		0.18
Management adjustments	10.2		8.2		113.0		14.4
Adjusted tax effects*	(10.1)		(1.9)		(24.0)		(3.3)
Adjusted Net Income**	111.1		46.3		177.5		148.6
Diluted Adjusted EPS	0.15		0.06		0.24		0.20
Weighted-average number of shares outstanding on a diluted basis:	750,000,000		750,000,000		750,016,904		750,000,000

*Adjusted taxes for the three months ended September 30, 2026 reflected an apparent 100% effective tax rate, which resulted from the mathematical impact of the difference between the six months ended June 30, 2026 and the nine months ended September 30, 2026. Adjusted taxes for the nine months ended September 30, 2026 reflect an updated year-to-date tax calculation.

**Adjusted Net Income includes the effect of unrealized foreign currency revaluation gains/losses from external and internal USD loans in EUR functional currency entities. For the three months ended September 30, 2026 and 2025, these amounted to a $7.4 million loss and $0.0 million gain, respectively, or an unfavorable variance of $7.4 million. For the nine months ended September 30, 2026, and 2025, these amounted to a $42.9 million loss and $22.0 million gain, respectively, or an unfavorable variance of $64.9 million.

Selected financial information for each segment is as follows:

	Three Months Ended September 30, 2026
(in millions of $)	Equipment		Service		Total from Reportable Segments
Total revenue	777.6		390.3		1,167.9
Less: Significant segment expenses regularly provided to the CODM (a)
Cost of goods and services sold	(580.4)		(219.8)		(800.2)
Research and development	(20.9)		(11.3)		(32.2)
Selling, general and administrative expenses	(59.9)		(49.8)		(109.7)
Depreciation and amortization	14.4		11.8		26.2
Other non-cash items (b)	1.5		1.0		2.5
Management adjustments (c)	0.8		1.4		2.2
Other segment items (d)	(0.3)		0.1		(0.2)
Adjusted Segment EBITDA (e)	132.8		123.7		256.5

	Three Months Ended September 30, 2025
(in millions of $)	Equipment		Service		Total from Reportable Segments
Total revenue	417.4		325.3		742.7
Less: Significant segment expenses regularly provided to the CODM (a)
Cost of goods and services sold	(310.6)		(191.5)		(502.1)
Research and development	(15.6)		(14.7)		(30.3)
Selling, general and administrative expenses	(41.8)		(46.2)		(88.0)
Depreciation and amortization	12.5		15.6		28.1
Other non-cash items (b)	1.3		1.0		2.3
Management adjustments (c)	0.2		0.8		1.0
Other segment items (d)	2.3		(0.2)		2.1
Adjusted Segment EBITDA (e)	65.7		90.1		155.8

	Nine Months Ended September 30, 2026
(in millions of $)	Equipment		Service		Total from Reportable Segments
Total revenue	1,669.3		1,104.9		2,774.2
Less: Significant segment expenses regularly provided to the CODM (a)
Cost of goods and services sold	(1,242.8)		(622.0)		(1,864.8)
Research and development	(60.1)		(32.9)		(93.0)
Selling, general and administrative expenses	(180.4)		(150.1)		(330.5)
Depreciation and amortization	41.5		37.0		78.5
Other non-cash items (b)	4.8		3.2		8.0
Management adjustments (c)	1.4		2.9		4.3
Other segment items (d)	0.7		0.4		1.1
Adjusted Segment EBITDA (e)	234.4		343.4		577.8

	Nine Months Ended September 30, 2025
(in millions of $)	Equipment		Service		Total from Reportable Segments
Total revenue	981.7		914.5		1,896.2
Less: Significant segment expenses regularly provided to the CODM (a)
Cost of goods and services sold	(708.1)		(529.7)		(1,237.8)
Research and development	(39.4)		(37.4)		(76.8)
Selling, general and administrative expenses	(115.1)		(127.1)		(242.2)
Depreciation and amortization	34.3		41.7		76.0
Other non-cash items (b)	3.5		2.5		6.0
Management adjustments (c)	0.4		1.7		2.1
Other segment items (d)	2.8		(0.1)		2.7
Adjusted Segment EBITDA (e)	160.1		266.1		426.2

(a) Significant segment expenses represent categories that are regularly provided to and used by the CODM to assess performance and allocate resources. These include Cost of equipment and products sold, Cost of services sold, Selling, general and administrative expenses, Research and development expenses, and Other segment items that are not individually significant.

(b) Other non-cash items include amortization expenses of capitalized costs to obtain contracts.

(c) Management adjustments are described above in the reconciliation of Adjusted Segment EBITDA to Net income.

(d) Other segment items represent the residual components of the CODM measure of segment profit that are not otherwise separately disclosed as revenue or significant expense categories. It primarily includes Other operating (income) expense – net and other non-significant cost categories (including certain shared or allocated costs included in segment results) that are reviewed by the CODM in aggregate (e.g., foreign currency transaction gains and losses, gains and losses on asset disposals, and miscellaneous operating items).

(e) Adjusted Segment EBITDA is the CODM’s segment profit measure. Corporate/unallocated costs (“HQ”) are not included in Adjusted Segment EBITDA and are presented in the reconciliation to consolidated Net income.

The above expense categories are derived from internal management reports and may not correspond directly to the line items in the consolidated statements of operations. The reconciliation above represents how segment results reconcile to the Consolidated Financial Statements.

___________________________

¹ For definitions, please refer to “Non-GAAP Financial Measures and Key Performance Indicators” below. Please also refer to the tables under “Reconciliations of GAAP to Non-GAAP Financial Measures” below.
² A reconciliation of Adjusted EBITDA guidance to net income is not available on a forward-looking basis without unreasonable effort.
³ Adjusted Net Income includes the effect of unrealized foreign currency revaluation gains/losses from external and internal USD loans in EUR functional currency entities. For the three months ended September 30, 2026 and 2025, these amounted to a $7.4 million loss and $0.0 million gain, respectively, or an unfavorable variance of $7.4 million. For the nine months ended September 30, 2026, and 2025, these amounted to a $42.9 million loss and $22.0 million gain, respectively, or an unfavorable variance of $64.9 million. For definitions, please refer to “Non-GAAP Financial Measures and Key Performance Indicators” below. Please also refer to the tables under “Reconciliations of GAAP to Non-GAAP Financial Measures” below.

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/1339174e-2cc8-4d0a-989b-5fc2e8c6b79d

VANCOUVER, British Columbia, Oct. 27, 2026 (GLOBE NEWSWIRE) — Zacatecas Silver Corp. (TSXV: ZAC | OTCQB: ZCTSF | FRA: 7TV) (“Zacatecas Silver” or the “Company”) is pleased to report results from a reconnaissance rock chip sampling program at its Cumaro gold-silver project (“Cumaro” or the “Project”) in Sonora, Mexico. Assays returned up to 40.6 g/t gold and 253 g/t silver from outcropping low sulphidation epithermal veins. The Company is advancing Cumaro on an accelerated timeline and has submitted a drill permit application to SEMARNAT.

Highlights

• One hundred and seventeen rock chip grab samples were collected from outcropping low sulphidation veins, concentrated on approximately 1.5 km of vein outcrop. More than 10 strike kilometres of veins are known at Cumaro and the property remains largely unsampled.
• Thirty nine samples assayed above 1 g/t gold, of which 12 assayed above 5 g/t gold. The highest grade sample returned 40.6 g/t gold.
• Thirty samples assayed above 1 oz/t silver (31.2 g/t silver), with a high of 253 g/t silver.
• Veins are up to 4 m wide and multiphase, with common vein breccias and pervasive iron oxides after sulphides.
• High grade samples were returned over a contiguous strike length of 500 m.
• Quartz vein textures and mineralogy indicate that samples were collected from the uppermost levels of the low sulphidation system, above the boiling zone where precious metal deposition is concentrated. Many samples were partially oxidized and leached at surface.
• High-resolution multispectral satellite imagery has been commissioned to guide an extensive follow-up rock chip and channel sampling program, to be conducted concurrently with permitting.
• A drill permit application has been submitted to SEMARNAT for a program of up to ten drill pads.

Sampling Results

The Company collected 117 reconnaissance rock chip grab samples from outcropping low sulphidation veins at Cumaro. Sampling concentrated on approximately 1.5 km of vein outcrop. In total, more than 10 strike kilometres of veins are known on the property, and the property remains largely unsampled.

Thirty nine samples assayed above 1 g/t gold, of which 12 assayed above 5 g/t gold, with the highest grade sample returning 40.6 g/t gold. A total of 30 samples also assayed above 1 oz/t silver (31.2 g/t silver), of which the highest returned 253 g/t silver.

Veins are up to 4 m wide and multiphase, with common vein breccias and pervasive iron oxides after sulphides. High grade samples were returned over a contiguous strike length of 500 m.

Figure 1: Cumaro concession showing mapped veins and rock chip gold results (g/t Au).

Figure 2: Cumaro concession showing mapped veins and rock chip silver results (g/t Ag).

Rock chip samples are selective by nature and may not be representative of the grade of the mineralization. Sampled widths are not true widths.

Geological Interpretation

Quartz vein textures and mineralogy confirm that samples were collected from the uppermost levels of the low sulphidation system, above the boiling zone where precious metal deposition is concentrated. Many samples were partially oxidized and leached at surface, conditions that typically suppress assay values relative to fresher material at depth.

Taken together, the Company believes the results indicate that the higher-grade portion of the Cumaro system may remain preserved and untested below the current sampling interval. Where the boiling zone is preserved at depth, precious metal mineralization is expected to be present. The Company considers Cumaro a compelling drill target.

Next Steps

The Company is advancing Cumaro on an accelerated timeline. High-resolution multispectral satellite imagery has been commissioned to provide a structural and alteration base map, which will guide an extensive follow-up rock chip and channel sampling program to be conducted concurrently. The Company has submitted a drill permit application to SEMARNAT with the intention of drilling from ten drill pads.

CEO Quote

“Cumaro has the same ingredients we like at Oso Negro: outcropping veins, high-grade surface assays and a system that has barely been sampled,” said Eric Vanderleeuw, Chief Executive Officer and Director. “We have more than 10 kilometres of known veins and we have only sampled 1.5 of them. Our samples came from the top of the system and many of them are oxidized and leached, which typically suppresses grades. We have satellite imagery on order to guide the next round of sampling, and the drill permit application is in. We are moving fast on this one.”

Quality Assurance and Quality Control

Rock chip sampling referred to in this news release was supervised by Company personnel. Samples were cut for reference, photographed, bagged and shipped to ALS in Zacatecas, where they were dried, sieved and pulverized, and analyzed for gold, silver and base metals by multi-element ICP following four-acid digestion. Certified reference materials, blanks and field duplicates were inserted into the sample stream. Rock chip samples are selective by nature and may not be representative of the grade of the mineralization. Surface sampling results are not indicative of results that may be obtained from drilling.

Qualified Person

The technical information in this news release has been reviewed and approved by Chris Wilson, B.Sc. (Hons), PhD, FAusIMM (CP), FSEG, FGS, Chief Geologist of Zacatecas Silver. Dr. Wilson is a Qualified Person as defined by NI 43-101 and is not independent due being Chief Geologist and a director.

About Zacatecas Silver Corp.

Zacatecas Silver is a multi-asset precious metals exploration company with a portfolio of seven projects across Mexico, spanning Zacatecas, Sonora, Morelos, and Oaxaca, and has recently entered into an option to acquire the Lourdes project in Guanajuato.

The Zacatecas Silver Project is located in Zacatecas State, within the highly prospective Fresnillo silver belt, which has produced over 6.2 billion ounces of silver. The Company holds 7,826 hectares of ground prospective for low-sulphidation and intermediate-sulphidation silver-base metal mineralization. A Mineral Resource Estimate at the Panuco deposit comprises 3.41 million tonnes at 187 g/t AgEq for 20.5 million ounces AgEq (see news release dated May 31, 2023). The property is 25 km southeast of MAG Silver’s Juanicipio Mine and Fresnillo PLC’s Fresnillo Mine, and shares boundaries with Defiance Silver and Endeavour Silver.

Esperanza is an advanced stage, attractive low-cost, low-capital-intensity and low-technical-risk growth project located in Morelos state, Mexico. The Company announced a Mineral Resource Estimate at Esperanza consisting of a Measured and Indicated Mineral Resource Estimate of 45.4 million tonnes at 0.79 g/t AuEq (0.76 g/t gold and 8.5 g/t silver) for 1.15 million ounces AuEq (1.11 million ounces gold and 12.37 million ounces silver) and an Inferred Mineral Resource Estimate of 11.2 million tonnes at 0.57 g/t AuEq (0.53 g/t gold and 11.2 g/t silver) for 208 thousand ounces AuEq (190 thousand ounces gold and 4.02 million ounces silver) (see news release dated June 22, 2026).

The Company also holds four exploration properties in Sonora and Oaxaca. Oso Negro (Sonora) is an undrilled, high-grade low sulphidation epithermal system with multiple veins mapped over more than 3 km of strike length. Cumaro (Sonora) is situated along trend from Coeur Mining’s El Picacho development and hosts extensions of proven low sulphidation vein systems with high-grade channel sampling results. La Lola (Sonora) is a large, underexplored 1,183-hectare property anchored by the La Barra vein, a 5 km structure reaching up to 40 m in width. Ejutla (Oaxaca) comprises 10,603 hectares in the Taviche-Miahuatlán region near the former Fortuna Silver San José Mine, hosting multiple vein systems and alteration zones anomalous in gold, silver, and Carlin-style pathfinder elements. The Company has also entered into an option to acquire a 100% interest in Lourdes (Guanajuato), a 509-hectare low sulphidation epithermal gold-silver vein system with limited historical drilling.

On behalf of the Company
Eric Vanderleeuw
Chief Executive Officer and Director
(519) 729 2440

Forward-Looking Statements

Information set forth in this news release contains forward-looking statements that are based on assumptions as of the date of this news release. These statements reflect management’s current estimates, beliefs, intentions and expectations. They are not guarantees of future performance. Zacatecas Silver cautions that all forward-looking statements are inherently uncertain and that actual performance may be affected by many material factors, many of which are beyond their respective control. Such factors include, among other things: risks and uncertainties relating to Zacatecas Silver’s limited operating history, its proposed exploration and development activities on its mineral properties and the need to comply with environmental and governmental regulations. Accordingly, actual and future events, conditions and results may differ materially from the estimates, beliefs, intentions and expectations expressed or implied in the forward-looking information. Except as required under applicable securities legislation, Zacatecas Silver does not undertake to publicly update or revise forward-looking information.

Forward-looking statements in this news release include, but are not limited to, statements regarding the interpretation of surface sampling and mapping results, the expectation that mineralization continues below surface, the potential for a boiling zone to be preserved at depth, the commissioning and results of satellite imagery, the planned follow-up rock chip and channel sampling program, the drill permit application and the timing, number of pads and design of any future drill program at Cumaro, and the Company’s exploration plans generally. There can be no assurance that the drill permit will be granted, that the Company will complete any planned programs as designed, that drilling will intersect mineralization, or that any mineralization intersected will be of economic grade or width. Cumaro is an early-stage exploration property and no mineral resource has been estimated on the Project.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the Exchange) accepts responsibility for the adequacy or accuracy of this release.

Photos accompanying this announcement are available at
https://www.globenewswire.com/NewsRoom/AttachmentNg/4be0f464-8cc7-4898-b842-3c15a12852a3
https://www.globenewswire.com/NewsRoom/AttachmentNg/fc5b612a-cb12-4bf4-bd7f-bd770a760757

Akamai Inference and Akamai Agent Sandbox extend Akamai Cloud’s ability to serve, run, and secure AI applications and agents from core to edge

CAMBRIDGE, Mass., Oct. 27, 2026 (GLOBE NEWSWIRE) — Bringing managed model serving and isolated execution for AI agents to Akamai Cloud, Akamai (Nasdaq: AKAM) today introduced two foundational products for its AI stack: Akamai Inference and Akamai Agent Sandbox. With these additions, enterprises can build and tune their own or hosted open-weight models, ground them in their own data, run agents inside enforced boundaries, and secure the applications, agents, and infrastructure involved, all on one cloud platform with AI-optimized infrastructure.

These capabilities mark the latest step in Akamai’s AI strategy: giving enterprises the trusted global infrastructure and services required to serve, run, and secure AI applications and agents, close to the users and data they depend on. Akamai Inference and Akamai Agent Sandbox now add managed services on top of that infrastructure — a foundation that has already secured multiyear contracts for Akamai Cloud collectively worth more than $14 billion. The momentum highlights how Akamai’s ability to leverage both CPUs and GPUs — together with cloud storage, networking, and edge functions on its interconnected global network fabric — is quickly becoming the trusted foundation for customers to build, deploy, and operate AI workloads at scale.

Enterprises moving AI into production need far more than models. They need serving infrastructure, access to their data, routing and governance, and, as agents begin to write and execute their own code, a hard boundary around what that code can reach. Most teams assemble those pieces from separate providers and secure the interaction points themselves. Akamai Cloud now delivers a connected AI environment, placed across a continuum of compute that runs from dense GPU and CPU clusters in core regions to more than 4,350 edge locations, and protected by the same security portfolio that defends many of the world’s largest online businesses.

“We have been implementing an AI infrastructure strategy based on the notion that AI inference will represent the majority of enterprise focus and investment. Our customers proved that thesis and pulled us further,” said Adam Karon, Chief Operating Officer and GM of Akamai Cloud. “They want to build, run, and protect AI on the same platform. Akamai Inference and Akamai Agent Sandbox add the inference and execution layers that turn our AI infrastructure into a full AI stack, and our security portfolio protects every layer of it. Akamai is uniquely positioned to bring our scale and distribution to address scaling real-time inference and agentic workloads.”

Access models without operating the stack: Akamai Inference

Akamai Inference gives enterprises managed access to open-weight and custom models through OpenAI-compatible APIs, so existing applications move without rewrites. Customers choose serverless, pay-per-use inference or dedicated deployments. At launch, the catalog includes 12 open-weight models ranging from 8 billion to 2.8 trillion parameters, including NVIDIA^™ Nemotron 3 Ultra, OpenAI^™ gpt-oss-120b, and Google^™ Gemma 4, along with embedding models for retrieval-augmented generation.

Akamai Cloud provides access to managed databases and object storage, and seamlessly connects to private and public cloud platforms, so models can draw on enterprise data. Akamai Inference then handles the orchestration, model execution, and authentication. Requests run on the Akamai global network, which reduces latency, and helps to ensure high availability and consistent performance while maintaining predictable service levels. 

Give agents a place to execute: Akamai Agent Sandbox

AI agents are increasingly doing real work, from taking actions on a user’s behalf to writing and running their own code. Akamai Agent Sandbox gives developers a secure place to run both. Agents run on Akamai Functions, and the code they write runs in its own isolated environment, sequestered from the agent’s runtime. Delivered as an open source component of the Spin framework, Akamai Agent Sandbox uses WebAssembly isolation to set clear limits on compute, memory outbound connections, and system capabilities. Developers can deploy agents with confidence about where they run and what they can reach.

Agent isolation is converging on several models, from microVMs with snapshot and fork capability, to policy-enforced containers, to WebAssembly-isolated functions. Akamai allows developers to choose the architecture that fits their workload, with NVIDIA-accelerated and dedicated CPU infrastructure, managed Kubernetes, and Akamai Functions for serverless execution across edge and core. Akamai also plans to add capabilities that govern what agents can reach and what can reach them.

Build and tune on a broader GPU fleet: NVIDIA Blackwell Ultra today, Vera Rubin next

Akamai also expanded its dedicated GPU fleet to include NVIDIA Blackwell Ultra GPU clusters and is preparing its infrastructure to support the NVIDIA Vera Rubin platform next year. Akamai’s GPU fleet now spans NVIDIA RTX PRO^™ 6000 Blackwell Server Edition^® GPUs for low-latency inference and NVIDIA Blackwell Ultra GPU clusters for enterprises that want to build, tune, and self-host models on infrastructure they control. Akamai is also preparing its data centers to support the NVIDIA Vera Rubin platform in 2027.

Each eight-GPU Blackwell Ultra node carries 288 GB of HBM3e memory per GPU, 2.3 TB in total, enough to hold frontier-class models. The Blackwell Ultra architecture targets the workloads driving that memory demand: test-time scaling, chain-of-thought reasoning, and long-context agentic work. GPU clusters give enterprises control over model versions and deprecation timelines, and run without rate limits or shared-tenancy queueing. They connect to the same data, networking, and security services as the rest of Akamai Cloud.

“Enterprises should not have to choose between speed and control when they put AI into production,” said Jon Alexander, Senior Vice President of Cloud Technology at Akamai. “Some teams want to ship an AI feature this quarter on a managed platform. Others need dedicated GPUs to run frontier-class open models on their own terms. Every team running agents needs a boundary around the code those agents write. Akamai Cloud now supports all of them on one platform, with security and resilience built in.”

Availability
Akamai Agent Sandbox (via Spin SDK) and Akamai Inference are available in beta. Akamai Inference beta includes serverless deployment options. Contact Akamai Sales for NVIDIA B300 GPU clusters availability.

About Akamai

Akamai is the cloud company that powers and protects an AI-driven world. Our cloud platform extends high-performance cloud computing from the core to the edge, enabling organizations to build and scale next-generation AI applications and providing comprehensive, multilayered security to safeguard enterprises against evolving cyberthreats. Learn more at akamai.com and akamai.com/blog, or follow Akamai Technologies on X and LinkedIn.

Akamai Statement Under the Private Securities Litigation Reform Act

This press release contains statements that are not statements of historical fact and constitute forward-looking statements for purposes of the safe harbor provisions under The Private Securities Litigation Reform Act of 1995, including, but not limited to, statements about Akamai Inference Cloud, its anticipated capabilities, scalability, performance, global deployment plans and the expected benefits to Akamai, current and prospective customers and end users. Each of the forward-looking statements is subject to change as a result of various important factors, many of which are beyond Akamai’s control, including, but not limited to: Akamai’s inability to achieve the expected performance or benefits of Akamai Inference Cloud; Akamai’s capabilities failing to meet expectations, including due to defects, security breaches, delays in performance, challenges in leveraging NVIDIA’s technologies, or other similar problems; effects of competition, including pricing pressure and changing business models; changes in customer or user preferences or demands; macroeconomic trends and uncertainties, including industry volatility, the effects of inflation, fluctuating interest and foreign currency exchange rates, supply chain and logistics costs, constraints, changes or disruptions; defects or disruptions in Akamai’s or NVIDIA’s products or IT systems, including cyber-attacks, data breaches or malware; changes to economic, political and regulatory conditions in the United States or internationally; and other factors that are discussed in Akamai’s most recent annual report on Form 10-K, subsequent quarterly reports on Form 10-Q and other documents filed with the Securities and Exchange Commission. The forward-looking statements contained herein are not guarantees of future performance and speak only as of the date hereof, and, except as required by law, Akamai disclaims any obligation to update these forward-looking statements to reflect future events or circumstances.

Contacts
Akamai Media Relations
akamaipr@akamai.com

Akamai Investor Relations
invrel@akamai.com

SHELTON, Conn., Oct. 27, 2026 (GLOBE NEWSWIRE) — Acme United Corporation (NYSE American: ACU) today announced that net sales for the quarter ended September 30, 2026, were $58.0 million compared to $49.1 million for the same period in 2025, an increase of 18%. Excluding sales resulting from the acquisition of the assets of My Medic on January 15, 2026, comparable three-month sales increased 10%. Net sales for the nine months ended September 30, 2026, were $173.0 million, compared to $149.0 million in the same period in 2025, an increase of 16%. Excluding My Medic sales, comparable nine-month sales increased 8%.

Net income was $3.4 million, or $0.80 per diluted share, for the quarter ended September 30, 2026, compared to $1.9 million, or $0.46 per diluted share, for the same period in 2025, an increase of 80% in net income and 74% in diluted earnings per share. Net income for the nine months ended September 30, 2026, was $9.5 million, or $2.29 per diluted share, compared to $8.3 million, or $2.03 per diluted share, for the same period in 2025, an increase of 14% in net income and 13% in diluted earnings per share.

Chairman and CEO, Walter C. Johnsen said, “We had record sales in the quarter, with growth in all our business units and internationally. Back-to-school sales were strong. The My Medic integration is progressing on plan, and we are beginning to receive retail and distribution commitments for its product lines next year.”

The Company applied for and received $6.0 million in IEEPA tariff refunds and in the third quarter of 2026, the Company recognized $4.0 million of the refund as a reduction of cost of goods sold. The remaining $2.0 million was recorded as an accrued liability on the balance sheet as of September 30, 2026. In the third quarter, the Company also recorded $1.0 million of variable compensation expense related to the refund, included in selling, general and administrative expenses. Additionally, in the third quarter of 2026, cost of goods sold included $1.8 million of costs accrued in connection with the close of our DMT sharpening facility and the related move of production of the DMT products to more cost-effective facilities in Asia. Net income for the three- and nine-month periods ended September 30, 2026 also included approximately $0.4 million of tax benefits resulting from stock option exercises.

The My Medic business acquired in January 2026, sells tactical, trauma and emergency response products directly to consumers, contributed to sales growth but due to the seasonal nature of the My Medic business there was minimal impact on earnings in the third quarter and the first nine months of 2026. As a direct-to-consumer business, My Medic has historically generated the majority of its profitability in the fourth quarter and we expect this pattern to continue.

Mr. Johnsen continued, “Transportation and many raw materials are increasing in cost. We continue to address these issues by using new robotics in our plants, sourcing very competitively, and consolidating operations. Later this year, we plan to close our DMT plant in Massachusetts and shift production and fulfillment to other locations and offshore. The annual savings from the closure are expected to be more than $1.0 million in 2027.

Mr. Johnsen concluded, “Our balance sheet is strong, and we continue to look for acquisitions that fit our strategic criteria.”

For the third quarter of 2026, net sales in the U.S. segment increased 20% compared to the same period in 2025. For the nine months ended September 30, 2026, net sales in the U.S. segment increased 17% compared to the same period in 2025. The sales increases for the three- and nine-month periods were due to strong sales across all product lines and contribution from the acquisition of the My Medic business.

European net sales for the third quarter of 2026 increased 5% in U.S. dollars and 7% in local currency compared to the third quarter of 2025. Net sales for the nine months ended September 30, 2026, increased 20% in U.S. dollars and 15% in local currency compared to the same period of 2025. The sales increases for the three- and nine-month periods were due primarily to higher ecommerce sales and contribution from the line of cutting and sharpening products acquired in Germany on October 1, 2025.

Net sales in Canada for the third quarter of 2026 increased 9% in U.S. dollars and 12% in local currency compared to the same period in 2025. Net sales for the nine-month periods ended September 30, 2026, increased 8% in both U.S. dollars and local currency compared to the same period of 2025. The sales increases for the three- and nine-month periods were due to higher sales of first-aid products.

Gross margin was 45.3% in the third quarter of 2026 versus 39.1% in the comparable period last year. Gross margin for the third quarter included a benefit of approximately 690 basis points from the tariff refund partially offset by approximately 310 basis points related to the DMT facility closure costs. Gross margin was 42.6% for the nine-month period ended September 30, 2026, compared to 39.8% for the same period in 2025. Gross margin for the nine months ended September 30, 2026 included a benefit of approximately 230 basis points from the tariff refund partially offset by approximately 105 basis points related to the DMT closure costs. Excluding the impact of the tariff refund and DMT closure costs, gross margin remained above prior-year levels primarily driven by the inclusion of the new My Medic direct to consumer business.

The Company’s bank debt less cash as of September 30, 2026 was $29.7 million compared to $23.1 million as of September 30, 2025. During the twelve-month period ended September 30, 2026, the Company paid approximately $14.5 million for the acquisition of the assets of My Medic ($18.6 million purchase price less $4.1 million of holdbacks), distributed approximately $2.4 million in dividends on its common stock and purchased the cutting and sharpening line of products in Germany for approximately $1.6 million. During the same period, the Company generated approximately $13.8 million in free cash flow, including $6.0 million in tariff refunds.

Conference Call and Webcast Information
Acme United will hold a conference call to discuss its quarterly results, which will be broadcast on Tuesday, October 27, 2026, at 12:00 p.m. ET. To listen or participate in a question-and-answer session, dial 877-407-0784. International callers may dial 201-689-8560. The confirmation code is 13763109. You may access the live webcast of the conference call through the Investor Relations section of the Company’s website, www.acmeunited.com. A replay may be accessed under Investor Relations, Audio Archives.

About Acme United
ACME UNITED CORPORATION is a leading worldwide supplier of innovative safety solutions and cutting technology to the school, home, office, hardware, sporting goods and industrial markets. Its leading brands include First Aid Only®, First Aid Central®, PhysiciansCare®, Pac-Kit®, Spill Magic®, Westcott®, Clauss®, DMT®, Med-Nap®, Elite First Aid® and My Medic®. For more information, visit www.acmeunited.com.

Forward Looking Statements

The Company may from time to time make written or oral “forward-looking statements” including statements contained in this release and in other communications by the Company, which are made in good faith pursuant to the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995. Such statements are based on our beliefs as well as assumptions made by and information currently available to us. When used therein this document, words like “may,” “might,” “will,” “expect,” “anticipate,” “believe,” “potential,” and similar expressions are intended to identify forward-looking statements. Actual results could differ materially from our current expectations.

Forward-looking statements in this release, including without limitation, statements related to the Company’s plans, strategies, objectives, expectations, intentions and adequacy of resources, are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Investors are cautioned that such forward-looking statements involve risks and uncertainties that may impact the Company’s business, operations and financial results.

These risks and uncertainties include, without limitation, the following: (i) changes in the Company’s plans, strategies, objectives, expectations and intentions, which may be made at any time at the discretion of the Company; (ii) the impact of volatility in global economic conditions, including the impact on the Company’s suppliers and customers; (iii) international trade policies of the United States or foreign governments and their impact on demand for our products and our competitive position, including the imposition of new tariffs, changes in existing tariff rates or the threat of any such action; (iv) the continuing adverse impact of inflation, including product costs, and interest rates; (v) potential adverse effects on the Company, its customers, and suppliers resulting from the conflicts in Ukraine and the Middle East; (vi) additional disruptions in the Company’s supply chains, whether caused by pandemics, natural disasters, including trucker shortages, strikes, port closures or otherwise; (vii) labor related costs the Company has and may continue to incur, including costs of acquiring and training new employees and rising wages and benefits; (viii) currency fluctuations; (ix) the Company’s ability to effectively manage its inventory in a rapidly changing business environment; (x) changes in client needs and consumer spending habits; (xi) the impact of competition; (xii) the impact of technological changes including, specifically, the growth of online marketing and sales activity; and (xiii) the Company’s ability to manage its growth effectively, including its ability to successfully integrate any business it might acquire; and (xiv) other risks and uncertainties indicated from time to time in the Company’s filings with the Securities and Exchange Commission.

CONTACT:

Paul G. Driscoll

Acme United Corporation

1 Waterview Drive

Shelton, CT 06484

Phone: (203) 254-6060

ACME UNITED CORPORATION
CONDENSED CONSOLIDATED STATEMENTS OF INCOME
THIRD QUARTER REPORT 2026
(Unaudited)
		Three Months Ended			Three Months Ended
Amounts in 000’s except per share data		September 30, 2026			September 30, 2025
Net sales	$	58,013		$	49,063
Cost of goods sold		31,713			29,868
Gross profit		26,300			19,195
Selling, general and administrative expenses		21,837			16,188
Operating income		4,463			3,007
Net interest expense		594			422
Other expense, net		6			146
Income before income tax expense		3,863			2,439
Income tax expense		428			536
Net income	$	3,435		$	1,903
Shares outstanding – basic		3,909			3,802
Shares outstanding – diluted		4,296			4,168
Earnings per share – basic	$	0.88		$	0.50
Earnings per share – diluted		0.80			0.46
ACME UNITED CORPORATION
CONDENSED CONSOLIDATED STATEMENTS OF INCOME
THIRD QUARTER REPORT 2026
(Unaudited)
		Nine Months Ended			Nine Months Ended
Amounts in 000’s except per share data		September 30, 2026			September 30, 2025
Net sales	$	173,030		$	149,018
Cost of goods sold		99,257			89,756
Gross profit		73,773			59,262
Selling, general and administrative expenses		60,736			47,438
Operating income		13,037			11,824
Net interest expense		1,613			1,222
Other expense (income), net		17			(44	)
Income before income tax expense		11,407			10,646
Income tax expense		1,938			2,338
Net income	$	9,469		$	8,308
Shares outstanding – basic		3,851			3,781
Shares outstanding – diluted		4,134			4,091
Earnings per share – basic	$	2.46		$	2.20
Earnings per share – diluted		2.29			2.03
ACME UNITED CORPORATION
CONDENSED CONSOLIDATED BALANCE SHEETS
THIRD QUARTER REPORT 2026
(Unaudited)
Amounts in $000’s
		September 30, 2026			September 30, 2025
Assets
Current assets:
Cash and cash equivalents	$	7,944		$	5,146
Accounts receivable, net		36,193			30,034
Inventories		69,034			60,163
Prepaid expenses and other current assets		3,718			3,363
Total current assets		116,889			98,706
Property, plant and equipment, net		39,432			38,691
Operating lease right of use asset		9,179			7,261
Intangible assets, less accumulated amortization		32,451			18,476
Goodwill		9,908			9,908
Total assets	$	207,859		$	173,042
Liabilities and stockholders’ equity
Current liabilities:
Accounts payable	$	10,304		$	6,488
Operating lease liability – short term		1,189			1,427
Mortgage payable – short term		467			450
Other current liabilities		18,057			13,722
Total current liabilities		30,017			22,087
Long-term debt		28,090			18,255
Mortgage payable – long term		9,125			9,556
Operating lease liability – long term		8,081			5,900
Deferred income taxes		3,685			1,465
Other non-current liabilities		3,995			15
Total liabilities		82,993			57,278
Total stockholders’ equity		124,866			115,764
Total liabilities and stockholders’ equity	$	207,859		$	173,042

Anchorage, Alaska, Oct. 27, 2026 (GLOBE NEWSWIRE) — Nova Minerals Corp (“Nova Minerals” or the “Company”) (NYSE American: NVA | ASX: NVA) today announced it has received final approvals from the Alaska Department of Natural Resources for the Plan of Operations and Reclamation Plan for its Department of War funded Alaska antimony project, completing the Project’s permitting process and clearing the way for construction and development activities targeting production in 2027.

Highlights

• Final permits secured: Nova has secured all required permits within approximately three months of submission clearing the way for Phase 1 of its Alaska antimony development and advancing the establishment of the first modern, fully integrated U.S. domestic antimony supply chain in decades.
• Three-stage project approval from mining to refining: Permits cover stibnite mining at the Styx and Stibium prospects, ore sorting and processing at the Whiskey Bravo concentration site within the Estelle Project, and downstream processing and refining at Port Mackenzie.
• $43.4 million in Department of War funding: Phase 1 is fully funded through the Company’s existing award to support development of domestic production capacity for military-grade antimony trisulfide.
• Critical equipment delivered: All major long-lead and critical mining and processing equipment has been procured and delivered to project locations.
• Engineering and metallurgy completed: Process plant engineering and metallurgical test work have established a flowsheet designed to produce military-grade antimony trisulfide and standard grade II antimony metal (>99.65% Sb).
• Targeting 2027 production: With permitting complete, funding secured, engineering completed and equipment delivered, Nova is focused on advancing construction and executing its development schedule.

Nova Minerals CEO, Mr. Christopher Gerteisen, commented:

“Securing our final permits is a major milestone for Nova, moving our Alaska antimony project from development planning toward construction and targeted production in 2027.

“In a relatively short period, we have secured $43.4 million in Department of War funding, completed the permitting process, advanced engineering and metallurgical test work, and delivered critical equipment to our project locations.

“With these key milestones achieved, our focus is now on execution. We believe the Project has the potential to contribute to a more secure U.S. domestic antimony supply chain, while creating a meaningful new growth opportunity for Nova and our shareholders.”

From Permitting to Project Execution

The final approvals authorize construction and operating activities over an initial three-year term across the Project’s integrated development pathway. This includes stibnite mining at the Styx and Stibium prospects, intermediate-stage ore sorting and processing at the Whiskey Bravo concentration site within the Estelle Project, and downstream processing and refining at Port Mackenzie, Alaska.

The Company’s Phase 1 development program is supported by a $43.4 million award from the U.S. Department of War to advance domestic antimony production capacity. Metallurgical test work and process plant engineering have been completed, with the process flowsheet designed to support production of military-grade antimony trisulfide and standard grade II antimony metal (>99.65% Sb).

All major long-lead and critical mining and processing equipment has been procured and delivered to project sites, enabling Nova to accelerate construction and advance project development.

With final regulatory approvals secured and major development milestones already achieved, Nova is transitioning to the next phase of execution as it advances toward targeted antimony production in 2027.

About Nova Minerals Corp

Nova Minerals Corp is advancing one of the world’s largest undeveloped gold deposits into production and securing a US domestic supply of the critical mineral antimony. The Company is focused on the exploration and development of the Estelle Gold and Critical Minerals Project, located in Alaska, a tier-one mining jurisdiction.

Estelle hosts two defined multi-million-ounce gold resources, and more than 20 prospects distributed along a 35-kilometre mineralized trend, in the prolific Tintina Gold Belt, a province which hosts a >220 million ounce (Moz) documented gold endowment and some of the world’s largest gold mines and discoveries including Kinross Gold Corporation’s Fort Knox Gold Mine. In parallel, Nova is advancing its critical minerals strategy, fully-funded by a $43.4 million U.S. Department of War award to develop a domestic antimony supply chain, targeted for production in 2027.

Further discussion and analysis of the Estelle Project is available through the interactive Vrify 3D animations, presentations, and videos, all available on the Company’s website www.novamineralscorp.com.

Forward Looking Statements

This press release contains “forward-looking statements” within the meaning of Section 27A of the Securities Act, and Section 21E of the Exchange Act which are subject to the “safe harbor” created by those sections. All statements, other than statements of historical fact, contained in this press release are forward-looking statements and that are subject to substantial risks and uncertainties. Forward-looking statements contained in this press release may be identified by the use of words such as “anticipate,” “believe,” “contemplate,” “could,” “estimate,” “expect,” “intend,” “seek,” “may,” “might,” “plan,” “potential,” “predict,” “project,” “target,” “aim,” “should,” “will,” “would,” or the negative of these words or other similar expressions, although not all forward-looking statements contain these words. Forward-looking statements are based on Nova Minerals Corp’s current expectations and are subject to inherent uncertainties, risks and assumptions that are difficult to predict. Further, certain forward-looking statements are based on assumptions as to future events that may not prove to be accurate. Forward-looking statements contained in this announcement are made as of this date, and Nova Minerals Corp undertakes no duty to update such information except as required under applicable law.

For further information:

Nova Minerals:	Media:	Investor Relations:
Craig Bentley	Jenna Shinderman	Dave Gentry, CEO
Director	Sodali & Co	RedChip Companies, Inc.
Ph: 1-720-550-4223	Ph: 1-631-918-4047	Ph: 1-407-644-4256
E: craig@novamineralscorp.com	E: jenna.shinderman@sodali.com	E: NVA@redchip.com

Recent Drill Results Show Growth Along 12 Kilometres of Strike Highlighted by 31 m @ 0.47% Cu, 11 m @ 0.67% Cu, 7 m @ 1.05% Cu, and 14 m @ 0.48% Cu – 70 Holes Pending and Drilling Ongoing

VANCOUVER, British Columbia, Oct. 27, 2026 (GLOBE NEWSWIRE) — Midnight Sun Mining Corp. (TSXV: MMA / OTCQX: MDNGF) (“Midnight Sun” or the “Company”) is pleased to report ongoing drilling at its Dumbwa copper deposit in Zambia has identified a significant expansion of the mineralized system in the Northern Block. Recent drilling has encountered near-surface copper mineralization across an east-west extent exceeding 2,400 metres, which is more than double the average width of the previously drilled Dumbwa Mineralized Corridor. This expanded footprint represents a major development as the Company advances its Phase Two exploration program, with drilling continuing to test the northern extent of Dumbwa and further define the distribution of copper mineralization within the broader system.

With the copper mineralization continuing to be flat-laying to shallowly dipping, and located at or very near surface, this is another promising development at Dumbwa.

“As drilling progresses north, we appear to have passed through another structural disruption and are now encountering copper sulphide mineralization across significantly greater east-west widths, with locally increased mineralized thicknesses. These observations are providing exciting insight into the geological architecture of the Northern Block and will help guide our ongoing exploration of this expanding system” states Midnight Sun’s COO, Dr. Kevin Bonel.

Figure 1. Assay Results and Interpreted Dumbwa Mineralized Corridor

Drill Results
The Company has, after lengthy delays due to ongoing issues at contracted analytical facilities (see below), received results from 76 drill holes representing 17,373 metres of drilling. The results include assays from both the expansion and the delineation drill programs which are ongoing at Dumbwa.

Recent assay results continue to deliver multiple shallow, higher grade, copper intercepts within broader zones of copper sulphide mineralization. The results reported today are from holes drilled across various areas of the strike length of the deposit and include holes which had previously failed to meet the Company’s QA/QC standards and were therefore not previously reported. Highlights include:

• DBW-26-283 – 0.47% Cu over 31.1 m,

  including – 0.81% Cu over 16.0 m.

• DBW-26-261 – 0.67% Cu over 11.0 m.
• DBW-26-355 – 1.05% Cu over 7.0 m.
• DBW-26-266 – 0.48% Cu over 14.0 m.

Midnight Sun’s President and CEO, Al Fabbro, states, “Phase One was designed to rapidly and systematically establish scale and outline the geological architecture of Dumbwa. I am extremely proud of what our team has accomplished, demonstrating more than 12 kilometres of mineralized strike length in just 14 months.

Importantly, our ongoing drilling is now identifying a significant expansion of the mineralized system in the north, along with distinct zones of enhanced copper mineralization throughout the main corridor. The geological insights gained through Phase One are now allowing us to focus Phase Two drilling on the most prospective areas of the Dumbwa system.”

Drilling Highlights:

Hole ID	From (m)	To (m)	Interval (m)	Cu (%)	Block Area
DBW-26-217	208.0	212.0	4.0	0.90	Central North
DBW-26-230	10.0	33.0	23.0	0.12	Central North
DBW-26-238	82.2	88.6	6.4	0.42	Central North
DBW-26-241	168.0	182.0	14.0	0.26	Central North
Incl.	175.0	182.0	7.0	0.39
DBW-26-257	6.0	35.0	29.0	0.20	Central North
DBW-26-261	13.0	24.0	11.0	0.67	Central North
DBW-26-266	52.0	66.0	14.0	0.48	Southern
and	83.0	88.0	5.0	0.44
DBW-26-282	16.0	41.0	25.0	0.22	Southern
DBW-26-283	59.0	90.1	31.1	0.47	Northern
Incl.	70.0	86.0	16.0	0.81
DBW-26-346	208.0	213.0	5.0	0.39	Central
DBW-26-348	28.0	51.0	23.0	0.32	Northern
DBW-26-355	80.0	87.0	7.0	1.05	Central
DBW-26-356	3.0	24.0	21.0	0.28	Northern
DBW-26-359	9.0	16.0	7.0	0.41	Northern
and	24.0	35.0	11.0	0.26

• Assay results based on four-acid digest, ICP-OES finish.
• Drill indicated thicknesses are estimated to represent 85% to 100% of true width.
• The full table of assays including locations is available on the Company’s website and can be accessed through this link: Dumbwa Drill Hole Location and Assay Table.

Phase One Program Recap

The field component of the Company’s Phase 1 drill program is now complete, although some assays are still pending. The program, which consisted of 372 diamond drill holes totalling over 87,000 metres (see Company’s news releases for previously announced 214 drill holes totalling 44,941 metres), has demonstrated copper sulphide mineralization along more than 12 km of the Dumbwa Mineralized Corridor, comprising the southern portion of the broader 20 km Dumbwa Target as outlined by geophysics and soil sampling.

The Phase 1 drill program had two primary goals. The first goal was to discover the source of a laterally extensive, open ended, copper-in-soil anomaly which was previously outlined at Dumbwa, and located directly south of First Quantum Minerals’ Kansanshi Mine.

On this front, the program has been an unqualified success. With the discovery and emerging understanding of the Dumbwa copper deposit providing the Company and its shareholders with a unique asset, in a globally significant copper belt, at a time when the copper price is at or near its all-time highs.

The second goal was to quickly and efficiently define the full extent of Dumbwa. On that front, the program has also been highly successful, as demonstrated by the outlining of the copper system along strike for over 12 km and recently identifying a doubling in the width of the system as exploration continues to track Dumbwa northwards. However, this goal remains unfinished, for positive reasons, as the Dumbwa deposit remains open for further expansion to both the north and south.

Assay Reporting Update

The Company has continued to experience extended assay turnaround times due to increased regional sample volumes, power interruptions and equipment failures at Intertek’s Kitwe preparation facility in Zambia.

Intertek has implemented measures to address these delays, including transferring samples to its Johannesburg facility for preparation, and prioritizing the Company’s outstanding samples for analysis in Perth, Australia.

Of the outstanding samples, 1,824 have now been received in Perth for priority analysis, with results targeted by October 30, subject to analytical completion and QA/QC requirements. A further 1,000 samples have been transferred to Johannesburg for preparation, while 859 samples remain in processing at Kitwe, with both batches expected to progress to Perth in the coming days.

Intertek has also committed to equipment upgrades at its Kitwe facility, including replacement pulverising mills and an additional crusher, with commissioning targeted for December 1, 2026. These improvements are expected to increase processing capacity and improve turnaround times going forward.

Approximately 5,000 samples, representing 70 drill holes remain outstanding (see Figure 1).

Midnight Sun continues to utilize multiple laboratories and maintain its strict internal QA/QC procedures to ensure the reliability of reported results. The Company recognizes the importance of timely and consistent technical updates and is implementing measures to both improve assay turnaround time, and provide more consistent and frequent reporting as pending assay results are received and validated.

Ongoing Phase 2 Program

At this time, drilling is focused on the Northern Block of the Dumbwa Mineralized Corridor, where the Company continues to be greatly encouraged by both the overall width of the mineralized zone and the local intensity of the mineralization observed during the logging of drill core from recent drill holes.

In addition, soil sampling continues in both the north and south of Dumbwa as the Company looks to generate additional targets that may sit outside of the established mineralized corridor.

Quality Control/Quality Assurance

Drilling was conducted using a conventional diamond drilling rig and drill core was captured for the entirety of each hole and placed into plastic core trays. All drill holes were cored in PQ until stable ground was achieved and then reduced to HQ size for the remainder of each hole. Sampling was based on visible copper mineralisation, and sample intervals honoured any important lithological boundaries. Core was then cut in house using a diamond saw and the right half of core was placed into a 200-micron plastic bag, assigned a unique sample number, and recorded into the GeoSpark Core database system.

To maintain chain of custody, samples always remained under the supervision of Midnight Sun staff prior to delivery to an independent assay lab. Drill samples were delivered to, prepared and analysed by either SGS Labs in Kitwe, Zambia or to Intertek where sample preparation took place in their Kitwe facility prior to an analysis of pulps in their facility located in Perth, Western Australia. Both laboratories conducted analysis by four-acid digest with ICP-OES finish.

Midnight Sun follows an in-house QA/QC program that consists of a random insertion every 10^th sample of either a coarse blank, fine blank, coarse duplicate, fine duplicate, or Certified Reference Material (standards). The Company has encountered multiple and repeated reporting failures provided by the independent laboratories and only reports results which have met its stringent internal QA/QC standards. Where samples fail QA/QC, the Company requests re-analysis of samples until the appropriate QA/QC checks are met.

Qualified Person: Darin Labrenz, P.Geo., a consulting geologist for the Company and Qualified Person under NI 43-101, has reviewed and approved the technical data and contents of this release.

About Midnight Sun

Midnight Sun is rapidly advancing the Solwezi Copper Project, with a focus on our flagship Dumbwa copper deposit. The Project is located near the town of Solwezi in the heart of the Zambia–Congo Copperbelt, the world’s second-largest copper-producing region. This prolific mining district is renowned for hosting multiple major copper deposits, and benefits from excellent infrastructure, an established mining workforce, and a long history of successful production.

The Solwezi Copper Project is surrounded by producing copper mines, including the geologically similar Lumwana mine to the west and First Quantum’s Kansanshi mine – Africa’s largest integrated metallurgical processing facility, approximately 6 kilometres east of the Company’s recently announced Kazhiba Oxide Resource. This highly favourable location highlights the district-scale potential of Midnight Sun’s land package.

The Dumbwa copper deposit underlays a robust 20-kilometre copper-in-soil anomaly, and ongoing drilling has demonstrated strong geological similarities to the nearby Lumwana mine, underscoring the potential scale of this newly identified copper system.

Led by an experienced geological team with a proven track record of major discoveries in the Zambia–Congo Copperbelt and globally, Midnight Sun’s goal is to delineate Zambia’s next generational copper deposit.

ON BEHALF OF THE BOARD OF MIDNIGHT SUN MINING CORP.
Al Fabbro
President & CEO

For Further Information Contact:
Adrian O’Brien
VP Business Development and Communications
Tel: +1 604 809 6890
Em: adrian@midnightsunmining.com

NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS NEWS RELEASE.

This news release contains “forward-looking statements” within the meaning of the applicable Canadian securities legislation that are based on expectations, estimates, assumptions, geological theories, and projections as at the date of this news release. The information in this news release about any information herein that is not a historical fact may be “forward looking statements.” Any statement that involves discussions with respect to predictions, expectations, beliefs, interpretations, plans, projections, objectives, assumptions, future events or performance (which may, but not always, include phrases such as “anticipates”, “expects”, “plans”, “scheduled”, “believed” or “intends” or variations of such words and phrases or stating that certain actions, events or results “may” or “could”, “would”, “might” or “will” be taken to occur or be achieved) are not statements of historical fact and may be forward-looking statements and are intended to identify forward-looking statements. Forward looking statements made in this news release include statements regarding (i) timing of assays on approximately 1,800 outstanding samples, (ii) measures being taken to improve assay turn around time, (iii) anticipated improvements in assay turn around time based on measures taken and being taken, (iv) anticipated assay results based on visual inspections, and (iv) the continuation of mineralization along strike to the north and south.

Although the forward-looking statements contained in this news release are based upon what management believes, or believed at the time, to be reasonable assumptions, the Company cannot assure readers that actual results will be consistent with such forward-looking statements, as there may be other factors that cause results not to be as anticipated, estimated or intended. Such factors include, among others, risks relating to the timing and ability of the Company to obtain and the timing of the approval of relevant regulatory bodies, if at all; risks relating to property interests; risks related to access to the project; risks inherent in mineral exploration, including the fact that any particular phase of exploration may be unsuccessful; the availability of contractors; geo-political risks; the global economic climate; metal prices; environmental risks; political risks; and community and non-governmental actions. Further to this, the Company is dependent on third party service providers for the delivery of assay services, over which the Company has limited or no control. Assay laboratories servicing Zambian exploration and mining companies are extremely busy and may prioritize other companies over the Company, may experience power and other technical failures, and may not have capacity to service the Company on the basis the Company expects. With respect to the exploration potential at Dumbwa, there is no guarantee that mineralization will continue along strike either to the north or south, which can only be determined through additional drilling, which may not be successful. Neither the Company nor any other person assumes responsibility for the accuracy and completeness of any such forward-looking statements. The Company does not undertake, and assumes no obligation, to update or revise any such forward-looking statements or forward-looking information contained herein to reflect new events or circumstances, except as may be required by law.

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/19dac661-079f-4940-a8d8-8ca0e0ef1206