Month: October 2026

CAMBRIDGE, Mass., Oct. 28, 2026 (GLOBE NEWSWIRE) — Relay Therapeutics, Inc. (Nasdaq: RLAY), a clinical-stage, small molecule precision medicine company developing potentially life-changing therapies for patients living with cancer and genetic disease, will report third quarter 2026 financial results and corporate highlights after the U.S. financial markets close on Wednesday, November 4, 2026.

About Relay Therapeutics

Relay Therapeutics (Nasdaq: RLAY) is a clinical-stage, small molecule precision medicine company developing potentially life-changing therapies for patients living with cancer and genetic disease. Relay Therapeutics’ Dynamo® platform integrates an array of leading-edge computational and experimental approaches designed to drug protein targets that have previously been intractable or inadequately addressed. The company’s lead clinical asset, zovegalisib, is the first pan-mutant selective PI3Kα inhibitor to enter clinical development and is currently in a Phase 3 clinical trial (ReDiscover-2) in HR+/HER2- metastatic breast cancer. Zovegalisib is also being investigated in a group of genetic disease indications called PI3Kα-driven vascular anomalies. Relay Therapeutics’ pipeline also includes programs for NRAS-driven solid tumors and Fabry disease. For more information, please visit www.relaytx.com or follow us on LinkedIn.

Contact:
Mitch Maisel
mmaisel@relaytx.com

Media:
Katie Engleman
1AB
919-333-7722
katie@1abmedia.com  

THORNTON, Colo., Oct. 28, 2026 (GLOBE NEWSWIRE) — MYR Group Inc. (“MYR or the “Company”) (NASDAQ: MYRG), a holding company of leading specialty contractors serving the electric utility infrastructure, commercial and industrial construction markets in the United States and Canada, announced today its third-quarter and first nine-months 2026 financial results.

Highlights for Third Quarter 2026

• Record quarterly revenues of $1.26 billion
• Record quarterly net income of $60.0 million, or $3.82 per diluted share
• Record quarterly EBITDA of $110.0 million
• Record backlog of $3.68 billion

Management Comments
Rick Swartz, MYR’s President and CEO, said, “Our strong third-quarter results demonstrate the momentum across our business and the strength of our execution. We delivered record quarterly revenues of $1.26 billion, net income of $60.0 million, and EBITDA of $110.0 million, supported by increased activity across both our T&D and C&I segments, including record quarterly C&I revenues. Through the first nine months of 2026, revenues reached $3.34 billion, reflecting healthy demand across our core markets and continued investment in critical electrical infrastructure. As we integrate Valley Electric and Comet Electric and expand our capabilities and geographic reach, we remain focused on disciplined execution, strengthening our customer relationships, and positioning MYR to capitalize on the significant infrastructure opportunities ahead.”

Third Quarter Results
MYR reported third-quarter 2026 revenues of $1.26 billion, an increase of $308.6 million, compared to the third quarter of 2025. Specifically, our Commercial and Industrial (“C&I”) segment reported record quarterly revenues of $704.5 million, an increase of $257.5 million, from the third quarter of 2025, primarily due to an increase in revenue on fixed priced contracts, which included incremental revenues from our acquisition of Valley Electric and Comet Electric (“Valley”). Our Transmission and Distribution (“T&D”) segment reported quarterly revenues of $554.5 million, an increase of $51.1 million, from the third quarter of 2025, due to increases in revenue on T&E contracts, fixed price contracts and unit price contracts.

Consolidated gross profit increased to $171.2 million in the third quarter of 2026, compared to $111.9 million for the third quarter of 2025. The increase in gross profit was due to higher margin and revenues. Gross margin increased to 13.6 percent for the third quarter of 2026 from 11.8 percent for the third quarter of 2025. The increase in gross margin was primarily due to significant changes in our estimated gross profit on certain projects, related to better-than-anticipated productivity and favorable job close outs. Gross margin was also positively impacted during the third quarter of 2026, by the continued benefit of higher margins on certain projects nearing completion, largely due to better-than-anticipated productivity. These margin increases were partially offset by an increase in costs associated with inefficiencies on certain projects. Changes in estimates of gross profit on certain projects resulted in a net gross margin increase of 0.4 percent for the third quarter of 2026, compared to a net gross margin decrease of 0.6 percent for the third quarter of 2025.

Selling, general and administrative (“SG&A”) expenses increased to $81.5 million in the third quarter of 2026, compared to $65.9 million for the third quarter of 2025. The period-over-period increase was primarily due to SG&A expenses associated with Valley, which was recently acquired, an increase in employee incentive compensation costs and an increase in employee-related expenses to support future growth.

Amortization of intangible assets increased to $6.1 million in the third quarter of 2026, compared to $1.2 million for the third quarter of 2025. The period-over-period increase was due to amortization related to certain intangible assets acquired with Valley.

Interest expense increased to $3.6 million in the third quarter of 2026, compared to $1.4 million for the third quarter of 2025. The period-over-period increase was attributable to incremental borrowings incurred in connection with the Valley acquisition.

Income tax expense was $22.3 million for the third quarter of 2026, with an effective tax rate of 27.1 percent, compared to income tax expense of $12.6 million for the third quarter of 2025, with an effective tax rate of 28.3 percent. The period-over-period change in tax rate was primarily due to a favorable impact from state taxes, partially offset by the impact of the net controlled foreign corporation tested income (“NCTI”), other permanent difference items and a reduction in foreign tax credits.

For the third quarter of 2026, net income was $60.0 million, or $3.82 per diluted share, compared to $32.1 million, or $2.05 per diluted share, for the same period of 2025. Third-quarter 2026 EBITDA, a non-GAAP financial measure, was $110.0 million, compared to $62.7 million in the third quarter of 2025.

First Nine-Months Results
MYR reported first nine-months 2026 revenues of $3.34 billion, an increase of $656.8 million, compared to the first nine months of 2025. Specifically, our C&I segment reported revenues of $1.72 billion, an increase of $508.7 million, from the first nine months of 2025, primarily due to an increase in revenue on fixed priced contracts, which included incremental revenues from Valley. Our T&D segment reported revenues of $1.62 billion, an increase of $148.0 million, from the first nine months of 2025, due to increases in revenue on T&E contracts and unit price contracts, partially offset by a decrease in revenue on fixed price contracts.

Consolidated gross profit increased to $448.4 million in the first nine months of 2026, compared to $312.5 million in the first nine months of 2025. The increase in gross profit was due to higher margin and revenues. Gross margin increased to 13.4 percent for the first nine months of 2026 from 11.6 percent for the first nine months of 2025. The increase in gross margin was primarily due to significant changes in our estimated gross profit on certain projects, related to better-than-anticipated productivity, an increase in scope on certain projects and favorable job close outs. These margin increases were partially offset by an increase in costs associated with inefficiencies on certain projects. Changes in estimates of gross profit on certain projects resulted in a net gross margin increase of 0.6 percent for the first nine months of 2026, compared to a net gross margin decrease of 1.3 percent for the first nine months of 2025.

SG&A expenses increased to $225.3 million in the first nine months of 2026, compared to $191.8 million for the first nine months of 2025. The period-over-period increase was primarily due to an increase in employee incentive compensation costs, an increase in employee-related expenses to support future growth and SG&A expenses associated with Valley.

Amortization of intangible assets increased to $8.5 million in the first nine months of 2026, compared to $3.6 million for the first nine months of 2025. The period-over-period increase was due to amortization related to certain intangible assets acquired with Valley.

Interest income increased to $2.1 million in the first nine months of 2026, compared to $0.4 million for the first nine months of 2025. The period-over-period increase was attributable to higher average balances held in money market accounts in the first nine months of 2026 as compared to the first nine months of 2025.

Interest expense increased to $4.9 million in the first nine months of 2026, compared to $4.8 million for the first nine months of 2025. The period-over-period increase was attributable to incremental borrowings during the first nine months of 2026 as compared to the first nine months of 2025 that were incurred in connection with the Valley acquisition.

Income tax expense was $56.8 million for the first nine months of 2026, with an effective tax rate of 26.6 percent, compared to income tax expense of $33.0 million for the first nine months of 2025, with an effective tax rate of 28.7 percent. The period-over-period change in tax rate was primarily due to a favorable impact from stock compensation excess tax benefits, partially offset by the impact of NCTI and other permanent difference items.

For the first nine months of 2026, net income was $156.7 million, or $9.97 per diluted share, compared to $81.9 million, or $5.20 per diluted share, for the same period of 2025.

Backlog
As of September 30, 2026, MYR’s backlog was $3.68 billion, which was an increase of $1.02 billion, or 38.2 percent, from the $2.66 billion reported as of September 30, 2025. As of September 30, 2026, C&I backlog was $2.39 billion and T&D backlog was $1.29 billion.

Balance Sheet
As of September 30, 2026, MYR had $650.5 million of borrowing availability under its new $690.0 million revolving credit facility.

Share Repurchase Program
In addition, the Company announced today that its Board of Directors approved a new share repurchase program (the “Repurchase Program”), which will be effective on November 4, 2026, and authorizes the Company to repurchase, in the aggregate, up to $100.0 million of its outstanding shares of common stock from time to time at management’s discretion on the open market or in privately negotiated transactions, including through Rule 10b5-1 trading plans, structured transactions or other means in accordance with applicable securities laws. The amount and timing of repurchases are subject to a variety of factors, including market and business conditions, as well as applicable contractual and legal requirements. The Repurchase Program will expire on November 3, 2027, or when the authorized funds are exhausted, whichever is earlier. The Company is not obligated to acquire any specific amount of common stock, and the Company’s Board of Directors may modify or terminate the Repurchase Program at any time. The Company intends to fund the Repurchase Program with cash on hand and through borrowings under its revolving credit facility.

Non-GAAP Financial Measures
To supplement MYR’s financial statements presented in accordance with generally accepted accounting principles in the United States (“GAAP”), MYR uses certain non-GAAP measures. Reconciliation to the nearest GAAP measures of all non-GAAP measures included in this press release can be found at the end of this release. MYR’s definitions of these non-GAAP measures may differ from similarly titled measures used by others. These non-GAAP measures should be considered supplemental to, and not a substitute for, financial information prepared in accordance with GAAP.

MYR believes that these non-GAAP measures are useful because they (i) provide both management and investors meaningful supplemental information regarding financial performance by excluding certain expenses and benefits that may not be indicative of recurring core business operating results, (ii) permit investors to view MYR’s performance using the same tools that management uses to evaluate MYR’s past performance, reportable business segments and prospects for future performance, (iii) publicly disclose results that are relevant to financial covenants included in MYR’s credit facility and (iv) otherwise provide supplemental information that may be useful to investors in evaluating MYR.

Conference Call
MYR will host a conference call to discuss its third-quarter 2026 results on Thursday, October 29, 2026 at 8:00 a.m. Mountain time. Participants may access the audio-only webcast of the conference call from the Investors page of MYR Group’s website at myrgroup.com.

About MYR Group Inc.
MYR Group is a holding company of leading, specialty electrical contractors providing services throughout the United States and Canada through two business segments: Transmission & Distribution (T&D) and Commercial & Industrial (C&I). MYR Group subsidiaries have the experience and expertise to complete electrical installations of any type and size. Through their T&D segment they provide services on electric transmission, distribution networks, substation facilities, clean energy projects and electric vehicle charging infrastructure. Their comprehensive T&D services include design, engineering, procurement, construction, upgrade, maintenance and repair services. T&D customers include investor-owned utilities, cooperatives, private developers, government-funded utilities, independent power producers, independent transmission companies, industrial facility owners and other contractors. Through their C&I segment, they provide a broad range of services which include the design, installation, maintenance and repair of commercial and industrial wiring generally for data centers, clean energy projects, airports, hospitals, hotels, commercial and industrial facilities, manufacturing plants, processing facilities, water/waste-water treatment facilities, mining facilities, intelligent transportation systems, roadway lighting, signalization, stadiums and electric vehicle charging infrastructure. C&I customers include general contractors, commercial and industrial facility owners, government agencies and developers. For more information, visit myrgroup.com.

Forward-Looking Statements
Various statements in this announcement, including those that express a belief, expectation, or intention, as well as those that are not statements of historical fact, are forward-looking statements. The forward-looking statements may include projections and estimates concerning the timing and success of specific projects and our future production, revenue, income, capital spending, segment improvements and investments. Forward-looking statements are generally accompanied by words such as “anticipate,” “believe,” “estimate,” “expect,” “intend,” “likely,” “may,” “objective,” “outlook,” “plan,” “project,” “possible,” “potential,” “should,” “unlikely,” or other words that convey the uncertainty of future events or outcomes. The forward-looking statements in this announcement speak only as of the date of this announcement. We disclaim any obligation to update these statements (unless required by securities laws), and we caution you not to rely on them unduly. We have based these forward-looking statements on our current expectations and assumptions about future events. While our management considers these expectations and assumptions to be reasonable, they are inherently subject to significant business, economic, competitive, regulatory and other risks, contingencies and uncertainties, most of which are difficult to predict and many of which are beyond our control. No forward-looking statement can be guaranteed and actual results may differ materially from those projected. Forward-looking statements in this announcement should be evaluated together with the many uncertainties that affect MYR’s business, particularly those mentioned in the risk factors and cautionary statements in Item 1A. of MYR’s Annual Report on Form 10-K for the fiscal year ended December 31, 2025, and in any risk factors or cautionary statements contained in MYR’s subsequent Quarterly Reports on Form 10-Q or Current Reports on Form 8-K.

MYR Group Inc. Contact:
Jennifer Harper, Vice President, Investor Relations & Treasurer, 847-979-5835, investorinfo@myrgroup.com

Financial tables follow…

MYR GROUP INC. Consolidated Balance Sheets As of September 30, 2026 and December 31, 2025
(in thousands, except share and per share data)	September 30, 2026				December 31, 2025
	(unaudited)
ASSETS
Current assets:
Cash and cash equivalents	$	26,010			$	150,156
Accounts receivable, net of allowances of $1,250 and $934, respectively		799,461				603,735
Contract assets, net of allowances of $756 and $534, respectively		318,367				241,766
Current portion of receivable for insurance claims in excess of deductibles		7,861				10,122
Refundable income taxes		4,873				—
Prepaid expenses and other current assets		30,615				54,982
Total current assets		1,187,187				1,060,761
Property and equipment, net of accumulated depreciation of $443,756 and $413,962, respectively		345,614				306,386
Operating lease right-of-use assets		63,304				42,448
Goodwill		224,045				115,266
Intangible assets, net of accumulated amortization of $47,948 and $39,967, respectively		230,855				72,476
Receivable for insurance claims in excess of deductibles		22,719				21,358
Deferred income taxes		18,264				12,723
Investment in joint ventures		3,258				3,224
Other assets		12,300				9,437
Total assets	$	2,107,546			$	1,644,079
LIABILITIES AND SHAREHOLDERS’ EQUITY
Current liabilities:
Current portion of long-term debt	$	16,988			$	4,554
Current portion of operating lease obligations		14,572				13,019
Current portion of finance lease obligations		1,064				804
Accounts payable		385,259				314,789
Contract liabilities, net		280,540				300,560
Current portion of accrued self-insurance		29,935				28,499
Accrued income taxes		129				15,129
Other current liabilities		160,910				117,923
Total current liabilities		889,397				795,277
Deferred income tax liabilities		95,473				50,119
Long-term debt		198,782				54,483
Accrued self-insurance		43,838				42,827
Operating lease obligations, net of current maturities		48,359				29,429
Finance lease obligations, net of current maturities		1,348				1,220
Other liabilities		11,364				10,301
Total liabilities		1,288,561				983,656
Commitments and contingencies
Shareholders’ equity:
Preferred stock—$0.01 par value per share; 4,000,000 authorized shares; none issued and outstanding at September 30, 2026 and December 31, 2025		—				—
Common stock—$0.01 par value per share; 100,000,000 authorized shares; 15,570,008 and 15,522,834 shares issued and outstanding at September 30, 2026 and December 31, 2025, respectively		155				155
Additional paid-in capital		170,292				165,211
Accumulated other comprehensive loss		(11,071	)			(8,183	)
Retained earnings		659,609				503,240
Total shareholders’ equity		818,985				660,423
Total liabilities and shareholders’ equity	$	2,107,546			$	1,644,079

MYR GROUP INC.
Unaudited Consolidated Statements of Operations
Three and Nine Months Ended September 30, 2026 and 2025

	Three months ended September 30,								Nine months ended September 30,
(in thousands, except per share data)		2026				2025				2026				2025
Contract revenues	$	1,259,032			$	950,400			$	3,341,139			$	2,684,345
Contract costs		1,087,791				838,508				2,892,785				2,371,841
Gross profit		171,241				111,892				448,354				312,504
Selling, general and administrative expenses		81,517				65,919				225,349				191,756
Amortization of intangible assets		6,087				1,214				8,514				3,613
Gain on sale of property and equipment		(1,469	)			(1,512	)			(3,282	)			(3,213	)
Income from operations		85,106				46,271				217,773				120,348
Other income (expense):
Interest income		292				197				2,068				433
Interest expense		(3,580	)			(1,440	)			(4,945	)			(4,759	)
Other income (expense), net		517				(297	)			(1,405	)			(1,130	)
Income before provision for income taxes		82,335				44,731				213,491				114,892
Income tax expense		22,330				12,637				56,835				33,024
Net income	$	60,005			$	32,094			$	156,656			$	81,868
Income per common share:
—Basic	$	3.85			$	2.07			$	10.06			$	5.22
—Diluted	$	3.82			$	2.05			$	9.97			$	5.20
Weighted average number of common shares and potential common shares outstanding:
—Basic		15,579				15,528				15,565				15,681
—Diluted		15,721				15,631				15,715				15,752

MYR GROUP INC. Unaudited Consolidated Statements of Cash Flows Nine Months Ended September 30, 2026 and 2025
	Nine months ended September 30,
(in thousands)		2026				2025
Cash flows from operating activities:
Net income	$	156,656			$	81,868
Adjustments to reconcile net income to net cash flows provided by operating activities:
Depreciation and amortization of property and equipment		51,622				45,664
Amortization of intangible assets		8,514				3,613
Stock-based compensation expense		13,395				9,808
Deferred income taxes		2,380				3,312
Gain on sale of property and equipment		(3,282	)			(3,213	)
Other non-cash items		586				345
Changes in operating assets and liabilities, net of acquisition:
Accounts receivable, net		(93,939	)			53,714
Contract assets, net		(21,461	)			(38,538	)
Receivable for insurance claims in excess of deductibles		900				(511	)
Other assets		18,069				14,241
Accounts payable		33,756				4,795
Contract liabilities, net		(54,796	)			(31,113	)
Accrued self-insurance		2,457				2,845
Other liabilities		19,298				64,907
Net cash flows provided by operating activities		134,155				211,737
Cash flows from investing activities:
Proceeds from sale of property and equipment		4,019				6,014
Cash paid for acquired business		(324,788	)			—
Purchases of property and equipment		(81,974	)			(64,467	)
Net cash flows used in investing activities		(402,743	)			(58,453	)
Cash flows from financing activities:
Borrowings under revolving lines of credit		786,645				635,003
Repayments under revolving lines of credit		(824,059	)			(633,048	)
Borrowing under term loans		199,287				—
Payment of principal obligations under equipment notes		(4,596	)			(4,360	)
Payment of principal obligations under finance leases		(668	)			(844	)
Repurchase of common stock		(1,307	)			(75,000	)
Debt refinancing costs		(3,634	)			—
Payments related to tax withholding for stock-based compensation		(7,294	)			(2,653	)
Other financing activities		254				—
Net cash flows provided by (used in) financing activities		144,628				(80,902	)
Effect of exchange rate changes on cash		(186	)			365
Net increase (decrease) in cash and cash equivalents		(124,146	)			72,747
Cash and cash equivalents:
Beginning of period		150,156				3,464
End of period	$	26,010			$	76,211

MYR GROUP INC.
Unaudited Consolidated Selected Data,
Unaudited Performance Measure and Reconciliation of Non-GAAP Measure
For the Three, Nine and Twelve Months Ended September 30, 2026 and 2025 and
As of September 30, 2026, December 31, 2025, September 30, 2025 and September 30, 2024

	Three months ended September 30,								Last twelve months ended September 30,
(dollars in thousands, except share and per share data)		2026				2025				2026					2025
Summary Statement of Operations Data:
Contract revenues	$	1,259,032			$	950,400			$	4,314,683				$	3,514,140
Gross profit	$	171,241			$	111,892			$	559,636				$	398,449
Income from operations	$	85,106			$	46,271			$	264,297				$	150,505
Income before provision for income taxes	$	82,335			$	44,731			$	259,883				$	141,896
Income tax expense	$	22,330			$	12,637			$	66,679				$	44,076
Net income	$	60,005			$	32,094			$	193,204				$	97,820
Tax rate		27.1	%			28.3	%			25.7	%				31.1	%
Per Share Data:
Income per common share:
– Basic	$	3.85			$	2.07			$	12.41		(1	)	$	6.22		(1	)
– Diluted	$	3.82			$	2.05			$	12.31		(1	)	$	6.19		(1	)
Weighted average number of common shares and potential common shares outstanding:
– Basic		15,579				15,528				15,556		(2	)		15,794		(2	)
– Diluted		15,721				15,631				15,696		(2	)		15,862		(2	)

(in thousands)	September 30, 2026			December 31, 2025			September 30, 2025			September 30, 2024
Summary Balance Sheet Data:
Total assets	$	2,107,546		$	1,644,079		$	1,548,853		$	1,512,331
Total shareholders’ equity	$	818,985		$	660,423		$	617,588		$	588,509
Goodwill and intangible assets	$	454,900		$	187,742		$	187,704		$	195,047
Total funded debt (3)	$	215,770		$	59,037		$	71,976		$	93,186

	Three months ended September 30,														Nine months ended September 30,
(dollars in thousands)		2026							2025							2026							2025
Segment Results:	Amount				Percent			Amount				Percent			Amount				Percent			Amount				Percent
Contract revenues:
Transmission & Distribution	$	554,544			44.0	%		$	503,436			53.0	%		$	1,619,536			48.5	%		$	1,471,479			54.8	%
Commercial & Industrial		704,488			56.0				446,964			47.0				1,721,603			51.5				1,212,866			45.2
Total	$	1,259,032			100.0	%		$	950,400			100.0	%		$	3,341,139			100.0	%		$	2,684,345			100.0	%
Operating income:
Transmission & Distribution	$	51,634			9.3	%		$	41,461			8.2	%		$	153,357			9.5	%		$	118,147			8.0	%
Commercial & Industrial		61,616			8.7				28,583			6.4				146,109			8.5				67,953			5.6
Total		113,250			9.0				70,044			7.4				299,466			8.9				186,100			6.9
Corporate		(28,144	)		(2.2	)			(23,773	)		(2.5	)			(81,693	)		(2.4	)			(65,752	)		(2.4	)
Consolidated	$	85,106			6.8	%		$	46,271			4.9	%		$	217,773			6.5	%		$	120,348			4.5	%

See notes at the end of this earnings release

MYR GROUP INC. Unaudited Performance Measures and Reconciliation of Non-GAAP Measures Three and Twelve Months Ended September 30, 2026 and 2025
	Three months ended September 30,								Last twelve months ended September 30,
(in thousands, except share, per share data, ratios and percentages)		2026				2025				2026				2025
Financial Performance Measures (4):
EBITDA (5)	$	109,988			$	62,713			$	340,730			$	213,986
EBITDA per Diluted Share (6)	$	7.00			$	4.01			$	21.71			$	13.51
EBIA, net of taxes (7)	$	66,839			$	33,856			$	203,008			$	105,562
Free Cash Flow (8)	$	9,155			$	65,412			$	137,106			$	156,085
Book Value per Period End Share (9)	$	52.12			$	39.52
Tangible Book Value (10)	$	364,085			$	429,884
Tangible Book Value per Period End Share (11)	$	23.17			$	27.51
Funded Debt to Equity Ratio (12)		0.26				0.12
Asset Turnover (13)										2.79				2.32
Return on Assets (14)										12.5	%			6.5	%
Return on Equity (15)										31.3	%			16.6	%
Return on Invested Capital (16)										25.0	%			16.4	%
Reconciliation of Non-GAAP Measures:
Reconciliation of Net Income to EBITDA:
Net income	$	60,005			$	32,094			$	193,204			$	97,820
Interest expense, net		3,288				1,243				3,476				6,421
Income tax expense		22,330				12,637				66,679				44,076
Depreciation and amortization		24,365				16,739				77,371				65,669
EBITDA (5)	$	109,988			$	62,713			$	340,730			$	213,986
Reconciliation of Net Income per Diluted Share to EBITDA per Diluted Share:
Net income per share	$	3.82			$	2.05			$	12.31			$	6.19
Interest expense, net, per share		0.21				0.08				0.22				0.40
Income tax expense per share		1.42				0.81				4.25				2.78
Depreciation and amortization per share		1.55				1.07				4.93				4.14
EBITDA per Diluted Share (6)	$	7.00			$	4.01			$	21.71			$	13.51
Reconciliation of Non-GAAP measure:
Net income	$	60,005			$	32,094			$	193,204			$	97,820
Interest expense, net		3,288				1,243				3,476				6,421
Amortization of intangible assets		6,087				1,214				9,719				4,816
Tax impact of interest and amortization of intangible assets		(2,541	)			(695	)			(3,391	)			(3,495	)
EBIA, net of taxes (7)	$	66,839			$	33,856			$	203,008			$	105,562
Calculation of Free Cash Flow:
Net cash flow from operating activities	$	46,081			$	95,590			$	248,985			$	232,856
Less: cash used in purchasing property and equipment		(36,926	)			(30,178	)			(111,879	)			(76,771	)
Free Cash Flow (8)	$	9,155			$	65,412			$	137,106			$	156,085

See notes at the end of this earnings release.

MYR GROUP INC. Unaudited Performance Measures and Reconciliation of Non-GAAP Measures As of September 30, 2026, 2025 and 2024
(in thousands, except per share amounts)	September 30, 2026				September 30, 2025
Reconciliation of Book Value to Tangible Book Value:
Book value (total shareholders’ equity)	$	818,985			$	617,588
Goodwill and intangible assets		(454,900	)			(187,704	)
Tangible Book Value (10)	$	364,085			$	429,884
Reconciliation of Book Value per Period End Share to Tangible Book Value per Period End Share:
Book value per period end share	$	52.12			$	39.52
Goodwill and intangible assets per period end share		(28.95	)			(12.01	)
Tangible Book Value per Period End Share (11)	$	23.17			$	27.51
Calculation of Period End Shares:
Shares outstanding		15,570				15,523
Plus: common equivalents		142				103
Period End Shares (17)		15,712				15,626

(in thousands)	September 30, 2026				September 30, 2025				September 30, 2024
Reconciliation of Invested Capital to Shareholders Equity:
Book value (total shareholders’ equity)	$	818,985			$	617,588			$	588,509
Plus: total funded debt		215,770				71,976				93,186
Less: cash and cash equivalents		(26,010	)			(76,211	)			(7,569	)
Invested Capital	$	1,008,745			$	613,353			$	674,126
Average Invested Capital (18)	$	811,049			$	643,740

See notes at the end of this earnings release.

(1)	Last-twelve-months earnings per share is the sum of earnings per share reported in the last four quarters.
(2)	Last-twelve-months weighted average basic and diluted shares were determined by adding the weighted average shares reported for the last four quarters and dividing by four.
(3)	Funded debt includes outstanding borrowings under our revolving credit facility, term loan credit facility and our outstanding equipment notes.
(4)	These financial performance measures are provided as supplemental information to the financial statements. These measures are used by management to evaluate our past performance, our prospects for future performance and our ability to comply with certain material covenants as defined within our credit agreement, and to compare our results with those of our peers. In addition, we believe that certain of the measures, such as book value, tangible book value, free cash flow, asset turnover, return on equity, and debt leverage are measures that are monitored by sureties, lenders, lessors, suppliers and certain investors. Our calculation of each measure is described in the following notes; our calculation may not be the same as the calculations made by other companies.
(5)	EBITDA is defined as earnings before interest, taxes, depreciation and amortization. EBITDA is not recognized under GAAP and does not purport to be an alternative to net income as a measure of operating performance or to net cash flows provided by operating activities as a measure of liquidity. Certain material covenants contained within our credit agreement are based on EBITDA with certain additional adjustments, including our interest coverage ratio and leverage ratio, which we must comply with to avoid potential immediate repayment of amounts borrowed or additional fees to seek relief from our lenders. In addition, management considers EBITDA a useful measure because it provides MYR Group Inc. and its investors with an additional tool to compare our operating performance on a consistent basis by removing the impact of certain items that management believes to not directly reflect the company’s core operations. Management further believes that EBITDA is useful to investors and other external users of our financial statements in evaluating the company’s operating performance and cash flow because EBITDA is widely used by investors to measure a company’s operating performance without regard to items such as interest expense, taxes, depreciation and amortization, which can vary substantially from company to company depending upon accounting methods and book value of assets, useful lives placed on assets, capital structure and the method by which assets were acquired.
(6)	EBITDA per diluted share is calculated by dividing EBITDA by the weighted average number of diluted shares outstanding for the period. EBITDA per diluted share is not recognized under GAAP and does not purport to be an alternative to income per diluted share.
(7)	EBIA, net of taxes is defined as net income plus net interest plus amortization of intangible assets, less the tax impact of net interest and amortization of intangible assets. The tax impact of net interest and amortization of intangible assets is computed by multiplying net interest and amortization of intangible assets by the effective tax rate. Management uses EBIA, net of taxes, to measure our results exclusive of the impact of financing and amortization of intangible assets costs.
(8)	Free cash flow, which is defined as cash flow provided by operating activities minus cash flow used in purchasing property and equipment, is not recognized under GAAP and does not purport to be an alternative to net income, cash flow from operations or the change in cash on the balance sheet. Management views free cash flow as a measure of operational performance, liquidity and financial health.
(9)	Book value per period end share is calculated by dividing total shareholders’ equity at the end of the period by the period end shares outstanding.
(10)	Tangible book value is calculated by subtracting goodwill and intangible assets outstanding at the end of the period from shareholders’ equity. Tangible book value is not recognized under GAAP and does not purport to be an alternative to book value or shareholders’ equity.
(11)	Tangible book value per period end share is calculated by dividing tangible book value at the end of the period by the period end number of shares outstanding. Tangible book value per period end share is not recognized under GAAP and does not purport to be an alternative to income per diluted share.
(12)	The funded debt to equity ratio is calculated by dividing total funded debt at the end of the period by total shareholders’ equity at the end of the period.
(13)	Asset turnover is calculated by dividing the current period revenue by total assets at the beginning of the period.
(14)	Return on assets is calculated by dividing net income for the period by total assets at the beginning of the period.
(15)	Return on equity is calculated by dividing net income for the period by total shareholders’ equity at the beginning of the period.
(16)	Return on invested capital is calculated by dividing EBIA, net of taxes, less any dividends, by average invested capital. Return on invested capital is not recognized under GAAP, and is a key metric used by management to determine our executive compensation.
(17)	Period end shares is calculated by adding average common stock equivalents for the quarter to the period end balance of common stock outstanding. Period end shares is not recognized under GAAP and does not purport to be an alternative to diluted shares. Management views period end shares as a better measure of shares outstanding as of the end of the period.
(18)	Average invested capital is calculated by adding net funded debt (total funded debt less cash and marketable securities) to total shareholders’ equity and calculating the average of the beginning and ending of each period.

RADNOR, Pa., Oct. 28, 2026 (GLOBE NEWSWIRE) — Mineralys Therapeutics, Inc. (Nasdaq: MLYS), a biopharmaceutical company focused on developing medicines to target hypertension and aldosterone-related adverse outcomes in comorbid conditions such as chronic kidney disease, obstructive sleep apnea and other diseases driven by dysregulated aldosterone, announced it will report its financial results from the third quarter ended September 30, 2026, after the financial markets close on Wednesday, November 4, 2026.

Wednesday, November 4th @ 4:30 p.m. ET
Domestic:	1-877-704-4453
International:	1-201-389-0920
Conference ID:	13762560
Webcast:	Link

A live webcast of the conference call may also be found on the “News & Events” page in the Investors section of the Mineralys Therapeutics website.

About Mineralys
Mineralys Therapeutics is a biopharmaceutical company focused on developing medicines to target hypertension and related comorbidities such as chronic kidney disease, obstructive sleep apnea and other diseases driven by dysregulated aldosterone. Its initial product candidate, lorundrostat, is an investigational, proprietary, orally administered, highly selective aldosterone synthase inhibitor. Mineralys is based in Radnor, Pennsylvania, and was founded by Catalys Pacific. For more information, please visit https://mineralystx.com. Follow Mineralys on LinkedIn, X and Bluesky.

Contact:

Investor Relations
investorrelations@mineralystx.com

Media Relations
Melyssa Weible
Elixir Health Public Relations
Email: mweible@elixirhealthpr.com

Call Scheduled for 10:00 am ET on Friday, November 6, 2026

VIENNA, Va., Oct. 28, 2026 (GLOBE NEWSWIRE) — Castellum, Inc. (NYSE-American: CTM) (“Castellum” or the “Company”), a defense tech services and solutions provider focused on the federal government, today announced it will release its financial results for the third quarter ended September 30, 2026, on Thursday, November 5, 2026, after the market close. The Company will host a conference call on Friday, November 6, 2026 at 10:00 am ET to discuss these results.

By Phone: To access the call, please dial (646) 307-1963 approximately 10 minutes prior to the start of the conference call and use the conference ID 8119596.

By Webcast: A live audio webcast of the conference call can be accessed via the Internet, on a listen-only basis at https://edge.media-server.com/mmc/p/crvfdomt. The online archive of the webcast will be available on the Company’s website shortly after the call at www.investors.castellumus.com in the Investor Relations section under Events and Presentations.

About Castellum, Inc.

Castellum, Inc. (NYSE-American: CTM) is a defense tech services and solutions provider focused on leveraging the power of information technology to help solve our Nation’s most pressing national security challenges. CTM provides U.S. government and commercial clients with cybersecurity, software development, systems engineering, information / electronic warfare, program support, and data analytics services. It also offers subject matter expertise in artificial intelligence / machine learning, 5G technologies, model-based systems engineering, program management, information assurance, intelligence analysis, and CMMC compliance. In addition to constantly innovating and enhancing its organic capabilities, Castellum is executing strategic acquisitions of firms that share our passionate commitment to U.S. national security and have a history of bringing exceptional value to their clients. For more information visit: https://castellumus.com.

Contacts:
Castellum, Inc.
1934 Old Gallows Road, Suite 350
Vienna, VA 22182

Investor Relations:
The Equity Group
Lena Cati (212) 836-9611
lena.cati@theequitygroup.com
Val Ferraro (212) 836-9633
val.ferraro@theequitygroup.com

MILWAUKEE, Oct. 28, 2026 (GLOBE NEWSWIRE) — Fiserv, Inc. (NASDAQ: FISV), a leading global provider of payments and financial services technology solutions, announced its participation in an upcoming investor conference in November.

Takis Georgakopoulos, Chief Executive Officer, will represent Fiserv at Citi’s 15^th Annual FinTech Conference at 9:00 a.m. ET on November 10, 2026.

Live webcasts and archived replays will be available on the investor relations section of the Fiserv website at investors.fiserv.com.

About Fiserv

Fiserv, Inc. (NASDAQ: FISV), a Fortune 500 company, is a global leader uniting commerce and finance. At the intersection of banking and commerce, the company powers sustained growth and innovation at scale for financial institutions and businesses worldwide across payments, account processing, digital banking, merchant acquiring, network services, eCommerce, and Clover^®, the all-in-one business management platform. Fiserv is a member of the S&P 500^® Index and one of FORTUNE^® America’s Most Innovative Companies. Visit fiserv.com and follow on social media for more information and the latest company news.

For more information contact:

Media Relations: Melissa Moritz Vice President, External Communications Fiserv, Inc. Melissa.Moritz@fiserv.com

Investor Relations: Walter Pritchard Senior Vice President, Investor Relations Fiserv, Inc. walter.pritchard@fiserv.com

NEW YORK, Oct. 28, 2026 (GLOBE NEWSWIRE) — Mount Logan Capital Inc. (Nasdaq: MLCI) (“Mount Logan” or the “Company”) announced today that it will release its financial results for the third quarter ended September 30, 2026, after market close on Thursday, November 5, 2026. The Company will host a conference call on Friday, November 6, 2026, at 12:00 p.m. Eastern Time to discuss its financial results. Shareholders, prospective investors, and analysts are welcome to listen to the conference call. To join the call, please use the dial-in information below. A recording of the conference call will be available following the event on Mount Logan’s Investor Relations website https://ir.mountlogan.com in the Financial Info section under “Financial Results”.

To Participate in the Conference Call:

Dial-in at least five minutes prior to start time:
USA-Toll-Free (800) 715-9871
USA / International Toll +1 (646) 307-1963
Conference ID 1669742

Webcast link:
https://edge.media-server.com/mmc/p/8rjhc4zr

About Mount Logan Capital Inc.
Mount Logan Capital Inc. (“MLCI”) is an integrated alternative asset management and insurance solutions firm focused on generating durable, fee-based revenue and long-term value creation. MLCI leverages differentiated investment strategies alongside permanent insurance capital to deliver attractive, risk-adjusted returns across market cycles.

Through its subsidiaries, MLM and Ability Insurance Company, MLCI manages and invests across private and public credit markets in North America and operates an insurance platform that provides long-duration liabilities to support its credit investment strategies. This integrated platform is designed to provide stable earnings, downside protection, and a low risk of principal impairment through the credit cycle.

As of June 30, 2026, MLCI had over $2 billion in assets under management.

To learn more, visit https://ir.mountlogan.com.

Contacts:
Mount Logan Capital Inc.
650 Madison Avenue, 3^rd Floor
New York, New York 10022
mlc.ir@mountlogan.com

Andrew Berger
SM Berger & Company
andrew@smberger.com

Revenue Increased 7% Year-over-Year to $70.5 Million, With Growth Across Wholesale and Retail Channels

Wholesale Revenue Increased 40% Year-Over-Year to $9.7 Million, Setting Second Consecutive Quarterly Record

Virginia Achieved Record Retail and Delivery Revenue as Adult-Use Preparations Advance

BOCA RATON, Fla., Oct. 28, 2026 (GLOBE NEWSWIRE) — Jushi Holdings Inc. (“Jushi” or the “Company”) (CSE: JUSH) (OTCQX: JUSH), a vertically integrated, multi-state cannabis operator, is pleased to announce its financial results for the third quarter ended September 30, 2026 (“Q3 2026”). All financial information is unaudited and provided in U.S. dollars unless otherwise indicated and is prepared under U.S. Generally Accepted Accounting Principles (“GAAP”).

Third Quarter 2026 Financial Highlights

• Revenue of $70.5 million

• Gross profit and gross profit margin of $32.3 million and 45.9%, respectively

• Net loss of $12.5 million

• Adjusted EBITDA¹ and Adjusted EBITDA margin¹ of $13.6 million and 19.3%, respectively

• Cash, cash equivalents, and restricted cash of $30.9 million as of quarter-end

_{¹ See “Use of Non-GAAP Financial Information” and “Unaudited Reconciliation of Net Income (Loss) to Adjusted EBITDA and Calculation of Adjusted EBITDA Margin” below.}

Third Quarter 2026 Company Highlights

• Wholesale revenue increased 40% year-over-year to $9.7 million, marking the second consecutive quarter of record wholesale revenue.

• Virginia achieved its second consecutive quarter of record retail revenue.

• Jushi-branded product sales were 56% of retail revenue in Q3 2026 and in the third quarter of 2025 (“Q3 2025”) across the Company’s five vertical markets.

• Expanded the Company’s brand and product portfolio with 665 new, unique SKUs introduced during Q3 2026, including offerings launched in certain states for the first time, covering flower, pre-rolls, vapes, concentrates, and edibles to meet diverse patient and customer needs.

• On July 30, 2026, the Company completed the continuance of its parent entity from British Columbia, Canada to Nevada, United States (the “Continuance”), following shareholder approval on June 24, 2026. The Continuance aligns the Company’s corporate structure with its existing operations and long-term strategy.

Management Commentary

“Our third-quarter results reflect continued progress in strengthening our operating performance, with revenue increasing 7% year-over-year to $70.5 million, our second consecutive quarter above $70 million,” said Jim Cacioppo, the Company’s Chairman and Chief Executive Officer. “Wholesale revenue increased 40% to $9.7 million, setting another quarterly record as improved product quality, higher production volumes, and broader distribution strengthened our ability to serve wholesale partners and our own retail network.”

Mr. Cacioppo continued, “Retail revenue increased 3.5% year-over-year to $60.8 million, led by Ohio and Virginia. Total units sold across our retail business increased 8.4% year-over-year. Virginia delivered its second consecutive quarter of record retail sales and achieved record home delivery sales, with all six dispensaries reporting year-over-year growth. Although pricing pressure continued across our markets, higher volumes and improved production efficiency supported growth in gross profit. We continue to pursue targeted dispensary relocations to improve store-level sales and profitability.”

Mr. Cacioppo concluded, “Virginia remains our most significant near-term growth opportunity as we prepare for adult-use sales which are scheduled to begin July 1, 2027. We are advancing cultivation and processing projects, exploring financing alternatives to support these investments, and preparing a retail network originally designed with adult use in mind. We remain focused on liquidity and disciplined capital allocation, with investment decisions guided by regulatory timing and financing availability.”

Financial Results for the Third Quarter Ended September 30, 2026
($ in millions) 

		Three Months Ended September 30,
			2026							2025						2026 vs. 2025
		Amount				% of Revenue			Amount				% of Revenue			$ Change
REVENUE, NET		$	70.5			100	%		$	65.7			100	%		$	4.8
COST OF GOODS SOLD			(38.1	)		(54	)%			(35.0	)		(53	)%			(3.1	)
GROSS PROFIT			32.3			46	%			30.7			47	%			1.7
SELLING, GENERAL AND ADMINISTRATIVE			28.7			41	%			28.0			43	%			0.7
IMPAIRMENT AND OTHER ASSET-RELATED GAINS/LOSSES, NET			0.1			—	%			0.3			—	%			(0.2	)
TOTAL OPERATING EXPENSES			28.8			41	%			28.3			43	%			0.5
INCOME FROM OPERATIONS			3.5			5	%			2.3			4	%			1.2
OTHER INCOME (EXPENSE)			(9.3	)		(13	)%			(17.2	)		(26	)%			7.9
NET LOSS		$	(12.5	)		(18	)%		$	(23.7	)		(36	)%		$	11.2
ADJUSTED EBITDA		$	13.6			19	%		$	12.8			19	%		$	0.8

^{Amounts may not foot due to rounding.}

Q3 2026 Compared to Q3 2025

• Retail revenue increased by $2.0 million, primarily due to growth in Ohio and Virginia. In Ohio, retail revenue increased $3.1 million due to the addition of two new dispensaries since the end of the second quarter of 2025 and the continued maturation of other recently opened locations. Retail revenue in Virginia grew by $0.9 million, driven primarily by an 11.5% increase in units sold, with all six dispensary locations reporting revenue growth. Our Little Ferry, New Jersey dispensary, which opened in the fourth quarter of 2025, also contributed to the year-over-year increase. These increases were partially offset by lower average selling prices resulting from competitive pricing and promotional activity across certain markets, as well as our Peoria, Illinois location no longer being included in operating results beginning in January 2026. We ended Q3 2026 with forty-two dispensaries in eight states, as compared to forty-one in seven states at the end of Q3 2025.

• Jushi-branded product sales were 56% of retail revenue across the Company’s five vertical markets, in Q3 2026 and Q3 2025.

• Wholesale revenue increased by $2.8 million, with increases across all states except Nevada, which remained relatively flat. In Massachusetts and Pennsylvania, wholesale revenue increased by $1.1 million and $0.7 million, respectively, primarily driven by expanded wholesale distribution into additional dispensaries, supported by improved product quality and higher production volumes that contributed to increased demand for Jushi-branded products. Additionally, wholesale revenue increased by $0.7 million in Virginia due to higher demand from our wholesale partners, while increased production capacity in Ohio contributed to higher wholesale revenue of $0.2 million.

• Gross profit and gross profit margin were $32.3 million and 45.9%, respectively, as compared to $30.7 million and 46.7%, respectively. Higher sales volumes, particularly in the Ohio retail channel, were the primary driver of gross profit dollar growth. Continued improvements in production efficiency and product costs at our grower-processor facilities helped offset the impact of lower average selling prices resulting from competitive pricing pressure and promotional activity across certain markets. The lower average selling prices contributed to the modest decline in gross profit margin.

• Operating expenses were $28.8 million as compared to $28.3 million. The slight year-over-year increase was primarily due to higher employee-related costs resulting from expanded operations, including new store openings, and higher professional fees. These increases were partially offset by a reclassification of certain depreciation expense to cost of goods sold.

• Other income (expense) resulted in a net expense of $9.3 million, as compared to a net expense of $17.2 million. The decrease was primarily due to a $0.2 million fair value gain on derivatives, compared to a $6.3 million fair value loss in Q3 2025. Other income (expense) in Q3 2026 also included interest expense, net, of $10.2 million, partially offset by other, net, of $0.7 million.

Balance Sheet and Liquidity
As of September 30, 2026, the Company had approximately $30.9 million of cash, cash equivalents, and restricted cash. During Q3 2026, the Company paid approximately $2.9 million in capital expenditures. As of September 30, 2026, the total gross debt subject to scheduled repayments was $215.6 million, excluding leases and property, plant, and equipment financing obligations. This amount also excludes $21.5 million of notes payable to Sammartino, as the Company currently has no obligation to repay these notes.

Cash provided by operations was $3.5 million during Q3 2026, as compared to $6.1 million during Q3 2025. Quarterly operating cash flow continued to be affected by the timing of working capital items.

As of October 22, 2026, the Company’s issued and outstanding shares were 199,708,263 and its fully diluted shares outstanding were 306,233,602.

Use of Non-GAAP Financial Information
The Company believes that the presentation of non-GAAP financial information provides important supplemental information to management and investors regarding financial and business trends relating to our financial condition and results of operations. For further information regarding these non-GAAP measures, including the reconciliation of these non-GAAP financial measures to their most directly comparable GAAP financial measures, please refer to the “Unaudited Reconciliation of Net Income (Loss) to Adjusted EBITDA and Calculation of Adjusted EBITDA Margin” section of this press release.

Conference Call and Webcast Information

The Company will host a conference call and audio webcast for the third quarter ended September 30, 2026, at 4:30 p.m. ET today, Wednesday, October 28, 2026.

Event:	Third Quarter 2026 Financial Results Conference Call
Date:	Wednesday, October 28, 2026
Time:	4:30 p.m. Eastern Time
Live Call:	1-877-423-9813 (U.S. & Canada Toll-Free)
Conference ID:	13762422
Webcast:	Register

For interested individuals unable to join the conference call, a replay of the webcast will be available for one month following the conference call and can be accessed via webcast on Jushi’s Investor Relations website.

About Jushi Holdings Inc.
We are a vertically integrated cannabis company led by an industry-leading management team. Jushi is focused on building a multi-state portfolio of branded cannabis assets through opportunistic acquisitions, distressed workouts, and competitive applications. Jushi strives to maximize shareholder value while delivering high-quality products across all levels of the cannabis ecosystem. For more information, visit jushico.com or our social media channels, Instagram, Facebook, X, and LinkedIn.

Forward-Looking Information and Statements
This press release may contain “forward-looking statements” and “forward‐looking information” within the meaning of applicable securities laws, including Canadian securities legislation and United States (“U.S.”) securities legislation (collectively, “forward-looking information”) which are based upon the Company’s current internal expectations, estimates, projections, assumptions and beliefs. All information, other than statements of historical facts, included in this press release that address activities, events or developments that the Company expects or anticipates will or may occur in the future constitutes forward‐looking information. Forward‐looking information is often identified by the words, “may”, “would”, “could”, “should”, “will”, “intend”, “plan”, “anticipate”, “believe”, “estimate”, “expect” or similar expressions and includes, among others, information regarding: future business strategy; competitive strengths, goals, expansion and growth of the Company’s business, operations and plans, including new revenue streams; the refinancing or securing other sources of liquidity to meet debt repayment obligations; the integration and benefits of recently acquired businesses or assets; roll out of new operations; the implementation by the Company of certain product lines; the implementation of certain research and development; the application for additional licenses and the grant of licenses that will be or have been applied for; the expansion or construction of certain facilities; the reduction in the number of our employees; the expansion into additional U.S. and international markets; any potential future legalization of adult use and/or medical marijuana under U.S. federal law; expectations of market size and growth in the U.S. and the states in which the Company operates; expectations for other economic, business, regulatory and/or competitive factors related to the Company or the cannabis industry generally; and other events or conditions that may occur in the future.

Readers are cautioned that forward‐looking information is not based on historical facts but instead is based on reasonable assumptions and estimates of the management of the Company at the time they were provided or made and such information involves known and unknown risks, uncertainties, including our ability to continue as a going concern, and other factors that may cause the actual results, level of activity, performance or achievements of the Company, as applicable, to be materially different from any future results, performance or achievements expressed or implied by such forward‐looking information. Such factors include, among others: the anticipated benefits of the continuance; the limited operating history of the industry and the Company; risks related to managing the growth of the Company including completed, pending or future acquisitions or dispositions, including potential future impairment of goodwill or intangibles acquired and/or post-closing disputes; risks related to the continued performance, expansion and/or optimization of existing operations; risks related to capitalizing on Virginia’s transition to an adult-use cannabis market; risks related to the anticipated openings of additional dispensaries or relocation of existing dispensaries subject to licensing approval; the Company’s historical operating losses and negative operating cash flows; increasing competition in the industry; risks inherent in an agricultural business, such as the effects of natural disasters; reliance on the expertise and judgment of senior management of the Company; risks associated with cannabis products manufactured for human consumption including potential product recalls; limited research and data relating to cannabis; constraints on marketing products; risk of litigation; insurance-related risks; public opinion and perception of the cannabis industry; risks related to the economy generally; fraudulent activity by employees, contractors and consultants; risks relating to the Company’s current amount of indebtedness; risks related to not being able to reduce or refinance its debt obligations; risks related to litigation or other disputes; reliance on key inputs, suppliers and skilled labor, and third party service provider contracts; reliance on manufacturers and contractors; risks of supply shortages or supply chain disruptions; risks relating to pandemics and forces of nature; risks related to the enforceability of contracts; risks related to inflation, the rising cost of capital, and stock market instability; risks relating to U.S. regulatory landscape and enforcement related to cannabis, including political risks; risks relating to anti‐money laundering laws and regulation; cannabis-related tax risks and challenges from governmental authorities with respect to the Company’s application for Employee Retention Tax Credits (ERTC); other governmental and environmental regulation; risks related to proprietary intellectual property and potential infringement by third parties; sales of a significant amount of shares by existing shareholders; the limited market for securities of the Company; risks relating to the need to raise additional capital either through debt or equity financing; costs associated with the Company being a publicly-traded company and a U.S. and Canadian filer; risks related to co‐investment with parties with different interests to the Company; conflicts of interest and related party transactions; cybersecurity risks; and risks related to the Company’s critical accounting policies and estimates. Refer to Part I – Item 1A. Risk Factors in the Company’s most recent Annual Report on Form 10-K filed with the U.S. Securities and Exchange Commission for more information.

Although the Company has attempted to identify important factors that could cause actual results to differ materially, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such forward‐looking information will prove to be accurate as actual results and future events could differ materially from those anticipated in such information. Accordingly, readers should not place undue reliance on the forward‐looking information contained in this press release or other forward-looking statements made by the Company. Forward‐looking information is provided and made as of the date of this press release and the Company does not undertake any obligation to revise or update any forward‐looking information or statements other than as required by applicable law.

Unless the context requires otherwise, references in this press release to “Jushi,” “Company,” “we,” “us” and “our” refer to Jushi Holdings Inc. and our subsidiaries.

For further information, please contact:

Jushi Investor Relations
Trent Woloveck
Co-Chief Strategy Director
614-271-4349
trent@jushico.com
investors@jushico.com

JUSHI HOLDINGS INC. CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (in thousands of U.S. dollars, except share and per share amounts)
		Three Months Ended September 30,								Nine Months Ended September 30,
			2026				2025				2026				2025
		(unaudited)								(unaudited)
REVENUE, NET		$	70,475			$	65,679			$	208,204			$	194,571
COST OF GOODS SOLD			(38,141	)			(35,015	)			(114,463	)			(109,208	)
GROSS PROFIT			32,334				30,664				93,741				85,363
OPERATING EXPENSES
Selling, general and administrative			28,745				28,020				86,464				84,286
Impairment and other asset-related gains/losses, net			81				306				1,472				(2,992	)
Total operating expenses			28,826				28,326				87,936				81,294
INCOME FROM OPERATIONS			3,508				2,338				5,805				4,069
OTHER INCOME (EXPENSE):
Interest expense, net			(10,232	)			(10,267	)			(30,506	)			(30,486	)
Fair value gain (loss) on derivatives			241				(6,325	)			2,886				(5,875	)
Other, net			741				(606	)			(3,362	)			6,992
Total other income (expense), net			(9,250	)			(17,198	)			(30,982	)			(29,369	)
LOSS BEFORE INCOME TAX			(5,742	)			(14,860	)			(25,177	)			(25,300	)
Income tax expense			(6,777	)			(8,829	)			(14,518	)			(27,735	)
NET LOSS		$	(12,519	)		$	(23,689	)		$	(39,695	)		$	(53,035	)
LOSS PER SHARE – BASIC AND DILUTED		$	(0.06	)		$	(0.12	)		$	(0.20	)		$	(0.27	)
Weighted average shares outstanding – basic and diluted			198,199,024				195,196,597				198,186,682				195,196,597

JUSHI HOLDINGS INC. CONDENSED CONSOLIDATED BALANCE SHEETS (in thousands of U.S. dollars, except share amounts)
		September 30, 2026 (unaudited)				December 31, 2025
ASSETS
CURRENT ASSETS:
Cash and cash equivalents		$	28,735			$	24,047
Accounts receivable, net			4,464				2,801
Inventories, net			35,136				34,607
Prepaid expenses and other current assets			5,797				6,858
Total current assets			74,132				68,313
NON-CURRENT ASSETS:
Property, plant and equipment, net			136,151				143,321
Right-of-use assets – finance leases			54,695				57,667
Other intangible assets, net			88,231				92,205
Goodwill			30,910				30,910
Other non-current assets			38,692				27,801
Restricted cash – non-current			2,125				2,125
Total non-current assets			350,804				354,029
Total assets		$	424,936			$	422,342
LIABILITIES AND EQUITY (DEFICIT)
CURRENT LIABILITIES:
Accounts payable		$	23,902			$	22,330
Accrued expenses and other current liabilities			25,574				25,531
Income tax payable			627				265
Debt, net – current portion			32,373				6,639
Finance lease obligations – current			11,117				11,125
Derivatives liabilities – current			—				296
Total current liabilities			93,593				66,186
NON-CURRENT LIABILITIES:
Debt, net – non-current (including related party principal amounts of $49,009 and $41,109 as of September 30, 2026 and December 31, 2025, respectively)			194,466				199,195
Finance lease obligations – non-current			53,212				53,547
Derivative liabilities – non-current			5,721				8,311
Unrecognized tax benefits (including interest and penalties of $48,698 and $38,342 as of September 30, 2026 and December 31, 2025, respectively)			201,360				177,242
Other liabilities – non-current			30,627				33,205
Total non-current liabilities			485,386				471,500
Total liabilities			578,979				537,686
COMMITMENTS AND CONTINGENCIES
EQUITY (DEFICIT):
Subordinate Voting Shares (as converted); no par value; unlimited authorized. 199,696,597 shares issued and outstanding as of December 31, 2025			—				—
Common stock: $0.001 par value, 2,000,000,000 authorized. 199,708,263 issued and outstanding as of September 30, 2026			200				—
Preferred stock: $0.001 par value, 1,000,000,000 authorized. No Preferred Stock issued or outstanding as of September 30, 2026			—				—
Paid-in capital			512,664				511,868
Accumulated deficit			(666,907	)			(627,212	)
Total deficit			(154,043	)			(115,344	)
Total liabilities and equity (deficit)		$	424,936			$	422,342

JUSHI HOLDINGS INC. CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (in thousands of U.S. dollars)
		Nine Months Ended September 30,
			2026				2025
		(unaudited)
Net cash flows provided by operating activities		$	12,940			$	11,674
Net cash flows used in investing activities			(10,910	)			(10,152	)
Net cash flows provided by financing activities			2,214				3,291
NET CHANGE IN CASH, CASH EQUIVALENTS AND RESTRICTED CASH		$	4,244			$	4,813
CASH, CASH EQUIVALENTS AND RESTRICTED CASH, BEGINNING OF PERIOD		$	26,616			$	21,346
CASH, CASH EQUIVALENTS AND RESTRICTED CASH, END OF PERIOD		$	30,860			$	26,159

JUSHI HOLDINGS INC. UNAUDITED RECONCILIATION OF NET INCOME (LOSS) TO ADJUSTED EBITDA and CALCULATION OF ADJUSTED EBITDA MARGIN

EBITDA, Adjusted EBITDA and Adjusted EBITDA Margin

In addition to providing financial measurements based on GAAP, we provide additional financial metrics that are not prepared in accordance with GAAP. We use non-GAAP financial measures, in addition to GAAP financial measures, to understand and compare operating results across accounting periods, for financial and operational decision making, for planning and forecasting purposes and to evaluate our financial performance. These non-GAAP financial measures are EBITDA, Adjusted EBITDA and Adjusted EBITDA Margin (each as defined below). We believe that these non-GAAP financial measures reflect our ongoing business by excluding the effects of expenses that are not reflective of our operating business performance and allow for meaningful comparisons and analysis of trends in our business. These non-GAAP financial measures also facilitate comparing financial results across accounting periods and to those of peer companies. As there are no standardized methods of calculating these non-GAAP measures, our methods may differ from those used by others, and accordingly, the use of these measures may not be directly comparable to similar measures used by others, thus limiting their usefulness. Accordingly, these non-GAAP measures are intended to provide additional information and should not be considered in isolation or as a substitute for measures of performance prepared in accordance with GAAP.

EBITDA, Adjusted EBITDA and Adjusted EBITDA Margin are financial measures that are not defined under GAAP. We define EBITDA as net income (loss), or “earnings”, before interest, income taxes, depreciation and amortization. We define Adjusted EBITDA as EBITDA before: (i) non-cash share-based compensation expense; (ii) inventory-related adjustments; (iii) fair value changes in derivatives; (iv) other (income)/expense items; (v) transaction costs; (vi) asset impairment; and (vii) gain/loss on debt extinguishment. Adjusted EBITDA Margin is calculated by dividing Adjusted EBITDA by total revenue. These financial measures are metrics that have been adjusted from the GAAP net income (loss) measure in an effort to provide readers with a normalized metric in making comparisons more meaningful across the cannabis industry, as well as to remove items that we do not believe represent the operations of the core business such as acquisition, transaction and other non-recurring costs that may otherwise distort the GAAP net income (loss) measure. Other companies in our industry may calculate this measure differently, limiting their usefulness as comparative measures.

Unaudited Reconciliation of Net Loss to Adjusted EBITDA
(in thousands of U.S. dollars)

		Three Months Ended September 30,
			2026				2025
NET LOSS		$	(12,519	)		$	(23,689	)
Income tax expense			6,777				8,829
Interest expense, net			10,232				10,267
Depreciation and amortization (1)			7,513				7,796
EBITDA (Non-GAAP)			12,003				3,203
Non-cash share-based compensation			287				357
Fair value changes in derivatives			(241	)			6,325
Other (income) expense, net (2)			1,561				2,908
Adjusted EBITDA (Non-GAAP)		$	13,610			$	12,793

^{(1) Includes amounts that are included in cost of goods sold and in operating expenses.
(2) Includes: (i) remeasurement of contingent consideration related to acquisitions; (ii) losses (gains) on legal settlements; (iii) losses (gains) on asset disposals; (iv) foreign exchange losses (gains); (v) indemnification asset adjustments related to acquisitions; and (vi) start-up costs.}

Calculation of Adjusted EBITDA Margin
(in thousands of U.S. dollars, unless otherwise stated)

		Three Months Ended September 30,
			2026				2025
Total revenue, net		$	70,475			$	65,679
Adjusted EBITDA (Non-GAAP)		$	13,610			$	12,793
Adjusted EBITDA Margin (Non-GAAP)			19.3	%			19.5	%

Published in Nature Communications, the study found a 10-protein signature that outperformed a leading individual ALS biomarker, including in some patients with difficult-to-diagnose presentations

Fremont, Calif., Oct. 28, 2026 (GLOBE NEWSWIRE) — Alamar Biosciences, Inc. (Nasdaq: ALMR), a leader in precision proteomics dedicated to enabling the earliest detection of disease, today announced researchers at Emory University have identified a 10-protein blood signature that distinguished patients with amyotrophic lateral sclerosis (ALS) from healthy controls with 98.3% balanced accuracy in an independent validation cohort. The study, published in Nature Communications, used Alamar Biosciences’ NULISA™ technology to measure more than 300 neurological and inflammatory proteins in each blood sample.

ALS can be difficult to diagnose, particularly early in the disease or when symptoms resemble those of other neurological conditions. Researchers are investigating whether blood-based biomarkers could eventually help clinicians identify patients who need specialist evaluation sooner. The newly reported signature remains a research finding, not a clinically validated screening or diagnostic test.

“We saw the proteins we expected, like neurofilament and phosphorylated tau, but we also found differences in proteins that hadn’t been linked to ALS in blood before,” said Eleanor Varian Thomas, MD, assistant professor at Emory University School of Medicine. “The combination of established and new biomarkers into a single protein signature, identified ALS far more accurately than neurofilament alone. Several of these new proteins may also tell us something about ALS biology itself, which we plan to explore as we test the protein signature in larger and more diverse patient groups.”

“ALS patients and their families often wait far too long for answers,” said Yuling Luo, PhD, founder, CEO and chair of Alamar Biosciences. “We built NULISA to measure low-abundance proteins in blood that other technologies struggle to see, and to measure many of them at once. This study shows why that matters. By profiling brain-derived and inflammatory proteins together, the Emory team identified a multi-protein signature that outperformed single marker testing.

The Emory University Center for Neurodegenerative Diseases and Emory ALS Center researchers initially profiled plasma from 632 ALS patients and 160 healthy controls using NULISAseq™ CNS and Inflammation panels. They developed a 10-protein signature and evaluated it in a separate validation cohort of 144 ALS patients and 37 controls.

In that validation cohort, the 10-protein signature achieved 98.3% balanced accuracy (AUC 0.992), compared with 89.9% (AUC 0.916) for neurofilament light chain (NFL) alone, an established blood biomarker of axonal damage. The model also identified some ALS patients missed by NFL alone, including patients with relatively little disability, a group that can present diagnostic challenges.

The protein signature combines the established neurofilament markers NFL and NEFH with pTau-181 and VEGFA, which have prior links to ALS, and six proteins not previously reported as ALS blood biomarkers: CALCA, NRGN, PTX3, TREM1, FOLR1 and LAMP3. Some of these proteins help the signature identify people who do not have ALS, which is important for distinguishing ALS from other conditions. One protein, FOLR1, was especially useful in correctly classifying people without ALS whose NFL levels were elevated, which reduced false positive results compared with NFL alone. Its performance illustrates the potential value of measuring multiple neurological and inflammatory proteins together rather than relying on one marker.

About Alamar Biosciences 
Alamar is a commercial-stage proteomics company establishing a gold standard in protein detection and analysis. Leveraging our proprietary NULISA™ technology and the ARGO® HT System, our platform is designed to detect protein biomarkers at extremely low concentrations in blood with ultra-high sensitivity, high specificity, flexible multiplexing, broad dynamic range and seamless automation. We refer to this combination of features as “Precision Proteomics,” and believe it fills a critical gap in the field of advanced proteomics, helping researchers unlock the full spectrum of protein biomarkers across disease states. Learn more at alamarbio.com. 

Forward Looking Statements 
This press release may contain forward-looking statements, including statements made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. These statements may be identified by words such as “aims,” “anticipates,” “believes,” “could,” “estimates,” “expects,” “forecasts,” “intends,” “may,” “plans,” “possible,” “potential,” “seeks,” “will” and variations of these words or similar expressions that are intended to identify forward-looking statements. Any such statements in this press release that are not statements of historical fact may be deemed to be forward-looking statements. These forward-looking statements include, without limitation, statements regarding Alamar Biosciences’ ability to help enable the earliest detection of disease. Any forward-looking statements in this press release are based on Alamar Biosciences’ current expectations and involve assumptions that may never materialize or may prove to be incorrect. Readers are cautioned that actual results could differ materially from those expressed or implied in Alamar Biosciences’ forward-looking statements due to a variety of risks and uncertainties, which include, without limitation, risks and uncertainties related to intense competition in the proteomics market, exposure to legal proceedings, regulatory inquiries and other legal matters, failure to develop new assays or instruments, dependence on researchers who rely heavily on government funding, reductions in spending by research and academic institutions, the potential for products to be subject to more onerous regulation by the FDA or other regulatory requirements, the complexity of manufacturing Alamar Biosciences’ instruments and consumables, failure to obtain marketing authorizations for future products that are intended for clinical or diagnostic use, Alamar Biosciences’ ability to protect its intellectual property, and the other risks described in Alamar Biosciences’ filings with the U.S. Securities and Exchange Commission, including its Quarterly Report on Form 10-Q filed with the SEC on August 11, 2026. Alamar Biosciences explicitly disclaims any obligation to update any forward-looking statements except to the extent required by law. 

CONTACT: Media Contact
Alamar Biosciences, Inc.
media@alamarbio.com

Investor Relations
Alamar Biosciences, Inc.

COVINGTON, La., Oct. 28, 2026 (GLOBE NEWSWIRE) — Pool Corporation (Nasdaq:POOL) announced today that its Board of Directors declared a quarterly cash dividend of $1.30 per share. The dividend will be payable on November 25, 2026 to holders of record on November 11, 2026.

Pool Corporation is the world’s largest wholesale distributor of swimming pool and related backyard products. POOLCORP operates approximately 455 sales centers in North America, Europe and Australia, through which it distributes more than 200,000 products to roughly 125,000 wholesale customers. For more information, please visit www.poolcorp.com.

CONTACT:

Kristin S. Byars
Director, Investor Relations and Finance
985.801.5153
kristin.byars@poolcorp.com

Announces Third Quarter 2026 Net Earnings Growth of 1.5%

Manhattan, KS, Oct. 28, 2026 (GLOBE NEWSWIRE) — Landmark Bancorp, Inc. (“Landmark”; Nasdaq: LARK) reported diluted earnings per share of $0.89 for the third quarter of 2026, compared to $0.88 per share in the second quarter of 2026 and $0.81 per share in the same quarter of the prior year. Net earnings for the third quarter totaled $5.5 million, compared to $5.4 million in the prior quarter and $4.9 million in the third quarter of 2025. For the three months ended September 30, 2026, the return on average assets was 1.36%, the return on average equity was 13.06%, and the efficiency ratio⁽¹⁾ was 63.0%.

For the first nine months of 2026, diluted earnings per share totaled $2.59, compared to $2.29 during the same period in 2025. Net earnings for the first nine months of 2026 totaled $15.9 million, compared to $14.0 million in the first nine months of 2025, an increase of 13.5%, driven primarily by higher net interest income. For the nine months ended September 30, 2026, the return on average assets was 1.33%, the return on average equity was 12.98%, and the efficiency ratio⁽¹⁾ was 62.5%.

Third Quarter 2026 Performance Highlights

• Return on average assets improved to 1.36%, compared to 1.35% in the prior quarter and 1.21% in the third quarter of 2025.
• Return on average equity was 13.06%, compared to 13.23% in the prior quarter and 13.00% in the third quarter of 2025.
• Net interest margin increased 13 basis points from the prior quarter to 4.35%, and improved 52 basis points compared to the third quarter of 2025. Net interest income expanded to $15.6 million, an increase of 3.7% as compared to the prior quarter and an increase of 11.0% from the same quarter in 2025.
• Non-interest-bearing deposits ended the quarter at 29.3% of total deposits while total deposit costs improved to 1.29%, a decrease of one basis point as compared to the prior quarter and a decrease of 30 basis points from the third quarter of 2025.
• Net charge-offs as a percentage of average loans decreased to 0.01%, compared to 0.17% in the prior quarter and 0.83% in the third quarter of 2025.
• Allowance for credit losses increased to $12.9 million which was 1.19% of gross loans outstanding at September 30, 2026, an increase over 1.15% at June 30, 2026 and 1.10% at September 30, 2025.
• Tangible common equity to assets⁽¹⁾ was 8.09% as of September 30, 2026, compared to 8.44% as of June 30, 2026 and 7.66% as of September 30, 2025.
• Book value per share was $26.24 as of September 30, 2026, compared to $27.35 as of June 30, 2026. Tangible book value per share⁽¹⁾ was $20.68 as of September 30, 2026, compared to $21.76 as of June 30, 2026.

(1) Non-GAAP financial measure. See the “Non-GAAP Financial Measures” section of this press release for a reconciliation.

“I am pleased with Landmark’s solid third quarter results, highlighted by continued revenue growth and strong profitability, supported by further expansion in our net interest margin. Our third quarter net interest margin increased to 4.35%, reflecting the effectiveness of our disciplined loan and deposit pricing strategies, as well as prudent funding management. Our core commercial and retail customer deposits remain strong, including our non-interest-bearing balances, sustaining our attractive low-cost deposit base,” said Abby Wendel, President and Chief Executive Officer. “Our focus remains on building a resilient, relationship-driven franchise supported by meaningful customer relationships across the markets we serve. Looking ahead, we are focused on achieving sustainable growth, delivering exceptional customer service, and creating long-term value for our shareholders, customers, and the communities we serve.”

Earnings Conference Call

Landmark will host a conference call to review the Company’s third quarter financial results at 10:00 a.m. (Central time) on Thursday, October 29, 2026. Interested parties may participate via telephone by dialing (833) 461-5787 and using Meeting ID 373 544 883. A replay of the call will be available through November 5, 2026, by dialing (833) 309-1852 and using Meeting ID 373 544 883.

SUMMARY OF THIRD QUARTER RESULTS

Net Interest Income

Net interest income in the third quarter of 2026 totaled $15.6 million, representing an increase of $562,000, or 3.7%, compared to the prior quarter and an increase of $1.5 million, or 11.0%, compared to the same quarter of the prior year. The increase in net interest income this quarter compared to both the prior quarter and the third quarter of 2025 was driven by higher rates on interest-earning assets despite lower average balances, partially offset by higher interest expense on other borrowings. The net interest margin for the third quarter of 2026 was 4.35%, an increase of 13 basis points from 4.22% during the prior quarter and an increase of 52 basis points from 3.83% during the third quarter of the prior year. The average tax-equivalent yield on the investment securities portfolio grew to 3.80%, compared to 3.66% in the prior quarter and 3.35% in the third quarter of 2025 as lower-rate securities maturing during the quarter were re-invested at higher rates. The average tax-equivalent yield on the loan portfolio increased 15 basis points as compared to the prior quarter and nine basis points as compared to the third quarter of the prior year.

Compared to the second quarter of 2026, interest on deposits decreased $62,000, or 1.4%, due to lower rates, coupled with decreased average balances. Interest on other borrowed funds increased $100,000 from the second quarter of 2026, driven by higher average balances. The average rate on interest-bearing deposits decreased one basis point from the prior quarter, to 1.81%, primarily due to lower rates on certificates of deposit. The average rate on other borrowed funds stayed consistent with the prior quarter at 4.54%, coupled with an increase in average balances in borrowings from the FHLB. 

Compared to the third quarter of 2025, interest on deposits decreased $1.1 million, or 20.8%, due to lower rates, coupled with decreased average balances. Interest on other borrowed funds decreased $313,000 from the third quarter of the prior year, due to lower rates and average balances. The average rate on interest-bearing deposits decreased 37 basis points from the third quarter of 2025, primarily due to lower rates on money market and checking accounts and certificates of deposit. The average rate on other borrowed funds decreased 55 basis points as compared to the third quarter of 2025. 

Non-Interest Income

Non-interest income totaled $3.6 million for the third quarter of 2026, a decrease of $493,000 from the prior quarter and a decrease of $466,000 from the same quarter in the prior year. The decrease in non-interest income as compared to the prior quarter was primarily due to a decrease of $593,000 in gains on the sale of loans due to a decrease in the volume of loans sold in the secondary market, offset by an increase of $76,000 in fees and service charges.

The decrease in non-interest income as compared to the third quarter of the prior year was primarily due to a decrease of $300,000 in gains on the sale of loans due to a decrease in the volume of loans sold in the secondary market, coupled with a decrease of $133,000 in fees and service charges.

Non-Interest Expense

During the third quarter of 2026, non-interest expense totaled $12.3 million, an increase of $292,000, or 2.4%, compared to the prior quarter and an increase of $1.0 million, or 8.9%, compared to the same period in the prior year. Compared to the prior quarter, the increase in non-interest expense was primarily due to increases of $238,000 in compensation and benefits expense, $178,000 in occupancy and equipment expense, and $148,000 in other expense. These increases were partially offset by a decrease of $313,000 in professional fees. The increase in compensation and benefits expense was attributable to strengthening our associate base and related benefits programs, which resulted in higher salary and benefits expense in the third quarter of 2026, as compared to the prior quarter. The increase in occupancy and equipment expense was primarily driven by technology-related upgrades recorded in the third quarter. The increase in other expense was primarily due to higher deposit fraud losses, captive insurance losses and director compensation in the third quarter compared to the prior quarter. The decrease in professional fees was attributable to $270,000 in one-time forensic accounting and legal costs related to previously disclosed fraudulent activity by a non-executive officer of the bank, coupled with a decrease in consulting expenses for talent recruitment and development, and internal audit co-sourcing recorded in the second quarter of 2026.

Compared to the third quarter of 2025, the increase in non-interest expense was primarily due to increases of $503,000 in compensation and benefits expense, $249,000 in other expense, and $192,000 in professional fees. The increase in compensation and benefits expense was attributable to strengthening our associate base and related benefits programs, which resulted in higher salary and benefits expense in the third quarter of 2026, as compared to the third quarter of 2025. The increase in other expense was primarily due to higher advertising costs and director compensation in the third quarter of 2026 compared to the third quarter of 2025. The increase in professional fees was attributable to an increase in consulting expenses for talent recruitment and development, and internal audit co-sourcing.

Income Tax Expense

Landmark recorded income tax expense of $1.3 million in both the second and third quarters of 2026, compared to $1.1 million in the third quarter of 2025. The effective tax rate was 19.3% in the third quarter of 2026, compared to 19.7% in the prior quarter and 18.7% in the third quarter of 2025.

Balance Sheet Highlights

As of September 30, 2026, gross period-end loans totaled $1.1 billion, a decrease of $22.2 million from the prior quarter, while average loans declined $12.3 million. The decrease in period-end loans was primarily driven by lower commercial real estate loans (decline of $12.5 million), one-to-four family residential real estate loans (decline of $10.6 million), and commercial loans (decline of $6.4 million), offset by higher construction and land loans (increase of $9.3 million). Investment securities available-for-sale increased $2.5 million during the third quarter of 2026, primarily due to the reinvestment of maturities and cash flow from the portfolio during the quarter.

Period-end deposit balances decreased $59.0 million to $1.2 billion at September 30, 2026, an annualized decrease of 17.9% compared to the prior quarter. The decrease in deposits was driven primarily by decreases in money market and checking accounts (decline of $27.1 million), non-interest bearing demand deposits (decline of $15.8 million), and certificates of deposit (decline of $10.4 million). These declines were due in part to a decline in public fund balances, which decreased $61.7 million as compared to the prior quarter. Total period-end borrowings increased $49.5 million during the third quarter of 2026. At September 30, 2026, the loan to deposits ratio was 85.6%, compared to 83.5% in the prior quarter.

Stockholders’ equity decreased to $160.3 million (book value of $26.24 per share) as of September 30, 2026, from $166.9 million (book value of $27.35 per share) as of June 30, 2026. The decrease in stockholders’ equity was primarily due to an increase of $10.9 million in accumulated other comprehensive losses (higher unrealized net losses on investment securities), partially offset by net earnings for the quarter net of dividends paid. The ratio of equity to total assets decreased to 10.05% on September 30, 2026, from 10.39% on June 30, 2026.

The allowance for credit losses totaled $12.9 million, or 1.19% of total gross loans, as of September 30, 2026, compared to $12.7 million, or 1.15% of total gross loans, as of June 30, 2026. Net charge-offs totaled $14,000 in the third quarter of 2026, compared to $452,000 during the second quarter of 2026 and $2.3 million in the third quarter of the prior year. The decrease in net charge-offs as compared to the third quarter of 2025 is related to the charge-off of a single commercial credit during the third quarter of 2025. A provision for credit losses on loans of $250,000 was recorded in the third quarter of 2026, compared to a provision of $500,000 in the second quarter of 2026, and a provision of $850,000 during the third quarter of 2025.

Non-performing loans totaled $12.5 million, or 1.16% of gross loans, at September 30, 2026, compared to $13.1 million, or 1.18% of gross loans, at June 30, 2026. Loans 30-89 days delinquent totaled $8.3 million, or 0.77% of gross loans, as of September 30, 2026, compared to $6.3 million, or 0.57% of gross loans, as of June 30, 2026.

About Landmark

Landmark Bancorp, Inc., the holding company for Landmark National Bank, is listed on the Nasdaq Global Market under the symbol “LARK.” Headquartered in Manhattan, Kansas, Landmark National Bank is a community banking organization dedicated to providing quality financial and banking services. Landmark National Bank has 28 locations in 23 communities across Kansas: Manhattan (2), Auburn, Dodge City (2), Fort Scott (2), Garden City, Great Bend (2), Hoisington, Iola, Junction City, La Crosse, Lawrence (2), Lenexa, Louisburg, Mound City, Osage City, Osawatomie, Overland Park, Paola, Pittsburg, Prairie Village, Topeka, Wamego and Wellsville, Kansas. Visit www.banklandmark.com for more information.

Contact Information

Mark Herpich	Shelley Reed
Chief Financial Officer	Investor Relations
(785) 565-2000	(913) 563-5672
mherpich@banklandmark.com	sreed@banklandmark.com

Special Note Concerning Forward-Looking Statements

This press release may contain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. The Company intends such forward-looking statements to be covered by the safe harbor provisions for forward-looking statements contained in the Private Securities Litigation Reform Act of 1995 with respect to the financial condition, results of operations, plans, objectives, future performance and business of Landmark. Forward-looking statements, which may be based upon beliefs, expectations and assumptions of our management and on information currently available to management, are generally identifiable by the use of words such as “believe,” “expect,” “anticipate,” “plan,” “intend,” “estimate,” “may,” “will,” “would,” “could,” “should” or other similar expressions. Forward-looking statements are neither historical facts nor assurances of future performance. Instead, they are based only on the Company’s current beliefs, expectations, and assumptions regarding its business, future plans and strategies, projections, anticipated events and trends, the economy, and other future conditions. Actual results and financial condition may differ materially from those indicated in the forward-looking statements. Therefore, you should not rely on any of these forward-looking statements. Additionally, all statements in this press release, including forward-looking statements, speak only as of the date they are made, and Landmark undertakes no obligation to update any statement in light of new information or future events. Because forward-looking statements relate to the future, they are subject to inherent known and unknown uncertainties, risks, changes in circumstances, and other factors that are difficult to predict and many of which may be out of the Company’s control. These factors include, among others, the following: (i) the strength of the local, state, national and international economies and financial markets, including the effects of inflationary pressures and future monetary policies of the Federal Reserve in response thereto and changes in global energy market conditions; (ii) effects on the U.S. economy resulting from actions taken by the federal government, including the threat or implementation of tariffs, immigration enforcement, executive orders, and changes in foreign policy; (iii) changes in interest rates, including the recent increase in the federal funds benchmark rate by the Federal Reserve, and prepayment rates of our assets; (iv) increased competition in the financial services sector and the inability to attract new customers, including from non-bank competitors such as credit unions and “fintech” companies; (v) timely development and acceptance of new products and services; (vi) rapid and expensive technological changes implemented by us and other parties in the financial services industry, including third-party vendors, which may be more difficult to implement or more expensive than anticipated or which may have unforeseen consequence to us and our customers, including the development and implementation of tools incorporating artificial intelligence; (vii) our risk management framework; (viii) interruptions in information technology and telecommunications systems and third-party services; (ix) the economic effects of severe weather, natural disasters, widespread disease or pandemics, or other external events; (x) the loss of key executives or employees; (xi) changes in consumer spending; (xii) integration of acquired businesses; (xiii) the commencement, cost and outcome of litigation and other legal proceedings and regulatory actions against us or to which the Company may become subject; (xiv) changes in accounting policies and practices; (xv) past and any future terrorist attacks, military conflicts, acts of war, changes in foreign relations, or other adverse external events, including ongoing conflicts in the Middle East, wars in Iran and Ukraine, and other international military conflicts that can increase levels of political and economic unpredictability, contribute to rising energy and commodity prices, affect global supply chains, increase the volatility of financial markets, and other matters beyond our control; (xvi) the ability to manage credit risk, forecast loan losses and maintain an adequate allowance for loan losses; (xvii) fluctuations in the value of securities held in our securities portfolio; (xviii) concentrations within our loan portfolio and large loans to certain borrowers (including commercial real estate loans); (xix) the concentration of large deposits from certain clients who have balances above current FDIC insurance limits and may withdraw deposits to diversify their exposure; (xx) the level of non-performing assets on our balance sheets; (xxi) the ability to raise additional capital; (xxii) the occurrence of fraudulent activity, breaches or failures of our or our third-party vendors’ information security controls or cybersecurity-related incidents, including as a result of sophisticated attacks using artificial intelligence and similar tools or as a result of insider fraud; (xxiii) emerging issues related to the development and use of artificial intelligence that could give rise to legal or regulatory action, damage our reputation, or otherwise materially harm our business or customers; (xxiv) declines in real estate values; (xxv) the effects of fraud on the part of our employees, customers, vendors or counterparties; (xxvi) the availability of future equity or debt issuances and other capital raising opportunities on favorable terms; (xxvii) the Company’s success at managing and responding to the risks involved in the foregoing items; and (xxviii) any other risks described in the “Risk Factors” sections of reports filed by Landmark with the Securities and Exchange Commission. These risks and uncertainties should be considered in evaluating forward-looking statements, and undue reliance should not be placed on such statements. Additional information concerning Landmark and its business, including additional risk factors that could materially affect Landmark’s financial results, is included in our filings with the Securities and Exchange Commission.

LANDMARK BANCORP, INC. AND SUBSIDIARIES
Consolidated Balance Sheets (unaudited)

		September 30,					June 30,					March 31,					December 31,				September 30,
(Dollars in thousands)		2026					2026					2026					2025				2025
Assets
Cash and cash equivalents		$	31,646				$	26,277				$	31,866				$	20,982			$	23,947
Interest-bearing deposits at other banks			3,630					5,935					2,970					3,218				3,218
Investment securities available-for-sale, at fair value:
U.S. treasury securities			41,105					43,478					50,001					53,183				50,833
Municipal obligations, tax exempt			67,943					75,143					77,495					87,809				97,383
Municipal obligations, taxable			92,878					97,718					94,738					90,603				82,236
Agency mortgage-backed securities			141,357					124,469					119,826					116,562				119,576
Total investment securities available-for-sale			343,283					340,808					342,060					348,157				350,028
Investment securities held-to-maturity			3,875					3,847					3,818					3,789				3,760
Bank stocks, at cost			10,355					8,079					7,123					5,756				8,021
Loans:
One-to-four family residential real estate			353,682					364,271					368,282					375,299				381,641
Construction and land			32,612					23,358					18,811					20,531				19,741
Commercial real estate			395,292					407,756					407,901					394,323				389,574
Commercial			171,542					177,904					176,373					178,201				186,656
Agriculture			88,306					88,055					86,603					102,829				99,897
Municipal			6,663					6,715					6,864					6,874				6,884
Consumer			31,214					33,417					33,392					33,666				33,660
Total gross loans			1,079,311					1,101,476					1,098,226					1,111,723				1,118,053
Net deferred loan (fees) costs and loans in process			(449	)				886					(296	)				(872	)			(763	)
Allowance for credit losses			(12,893	)				(12,657	)				(12,609	)				(12,458	)			(12,299	)
Loans, net			1,065,969					1,089,705					1,085,321					1,098,393				1,104,991
Loans held for sale, at fair value			2,575					3,740					3,202					5,141				3,578
Bank owned life insurance			40,755					40,572					40,287					40,176				39,890
Premises and equipment, net			18,771					18,907					19,118					19,325				19,449
Goodwill			32,377					32,377					32,377					32,377				32,377
Other intangible assets, net			1,592					1,725					1,858					1,990				2,123
Mortgage servicing rights			3,383					3,336					3,222					3,189				3,120
Real estate owned, net			441					–					–					–				–
Other assets			36,603					31,208					32,565					24,149				22,573
Total assets		$	1,595,255				$	1,606,516				$	1,605,787				$	1,606,642			$	1,617,075
Liabilities and Stockholders’ Equity
Liabilities:
Deposits:
Non-interest-bearing demand		$	364,725				$	380,543				$	367,737				$	364,695			$	365,959
Money market and checking			568,969					596,083					589,410					650,987				579,413
Savings			145,251					150,961					154,607					151,406				146,291
Certificates of deposit			167,013					177,401					210,930					221,766				233,837
Total deposits			1,245,958					1,304,988					1,322,684					1,388,854				1,325,500
FHLB and other borrowings			133,365					83,415					67,062					10,567				90,483
Subordinated debentures			21,651					21,651					21,651					21,651				21,651
Repurchase agreements			1,121					1,599					2,263					1,501				1,420
Accrued interest and other liabilities			32,909					28,005					30,516					23,438				22,294
Total liabilities			1,435,004					1,439,658					1,444,176					1,446,011				1,461,348
Stockholders’ equity:
Common stock			61					61					61					61				58
Additional paid-in capital			102,910					102,810					102,675					102,597				95,330
Retained earnings			75,753					71,561					67,449					63,658				67,327
Accumulated other comprehensive loss			(18,473	)				(7,574	)				(8,574	)				(5,685	)			(6,988	)
Total stockholders’ equity			160,251					166,858					161,611					160,631				155,727
Total liabilities and stockholders’ equity		$	1,595,255				$	1,606,516				$	1,605,787				$	1,606,642			$	1,617,075

LANDMARK BANCORP, INC. AND SUBSIDIARIES
Consolidated Statements of Earnings (unaudited)

		Three months ended,												Nine months ended,
		September 30,				June 30,				September 30,				September 30,				September 30,
(Dollars in thousands, except per share amounts)		2026				2026				2025				2026				2025
Interest income:
Loans		$	17,548			$	17,147			$	17,783			$	51,955			$	51,364
Investment securities:
Taxable			2,706				2,482				2,198				7,522				6,541
Tax-exempt			559				571				700				1,725				2,120
Interest-bearing deposits at banks			38				51				58				148				154
Total interest income			20,851				20,251				20,739				61,350				60,179
Interest expense:
Deposits			4,287				4,349				5,410				13,247				15,790
FHLB and other borrowings			578				484				857				1,339				2,283
Subordinated debentures			331				324				361				977				1,076
Repurchase agreements			13				14				17				42				134
Total interest expense			5,209				5,171				6,645				15,605				19,283
Net interest income			15,642				15,080				14,094				45,745				40,896
Provision for credit losses			205				500				850				1,275				1,850
Net interest income after provision for credit losses			15,437				14,580				13,244				44,470				39,046
Non-interest income:
Fees and service charges			2,527				2,451				2,660				7,341				7,524
Gains on sales of loans, net			648				1,241				948				2,774				2,250
Bank owned life insurance			297				285				283				955				833
Losses on sales of investment securities, net			–				–				–				–				(2	)
Other			130				118				177				391				447
Total non-interest income			3,602				4,095				4,068				11,461				11,052
Non-interest expense:
Compensation and benefits			6,807				6,569				6,304				19,699				18,692
Occupancy and equipment			1,385				1,207				1,364				4,042				3,860
Data processing			534				494				476				1,582				1,501
Amortization of mortgage servicing rights and other intangibles			226				225				247				679				724
Professional fees			938				1,251				746				2,953				2,031
Other			2,363				2,215				2,114				7,157				6,165
Total non-interest expense			12,253				11,961				11,251				36,112				32,973
Earnings before income taxes			6,786				6,714				6,061				19,819				17,125
Income tax expense			1,312				1,322				1,131				3,887				3,090
Net earnings		$	5,474			$	5,392			$	4,930			$	15,932			$	14,035
Net earnings per share (1)
Basic		$	0.90			$	0.88			$	0.81			$	2.61			$	2.31
Diluted			0.89				0.88				0.81				2.59				2.29
Dividends per share (1)			0.21				0.21				0.20				0.63				0.60
Shares outstanding at end of period (1)			6,106,859				6,100,582				6,073,744				6,106,859				6,073,744
Weighted average common shares outstanding – basic (1)			6,102,102				6,098,229				6,072,915				6,094,603				6,069,485
Weighted average common shares outstanding – diluted (1)			6,176,727				6,161,461				6,121,123				6,157,009				6,115,806
Tax equivalent net interest income		$	15,781			$	15,222			$	14,260			$	46,171			$	41,402

(1) Share and per share values at or for the period ended September 30, 2025 have been adjusted to give effect to the 5% stock dividend paid during December 2025.

LANDMARK BANCORP, INC. AND SUBSIDIARIES
Select Ratios and Other Data (unaudited)

		As of or for the three months ended,												As of or for the nine months ended,
		September 30,				June 30,				September 30,				September 30,					September 30,
(Dollars in thousands, except per share amounts)		2026				2026				2025				2026					2025
Performance ratios:
Return on average assets (1)			1.36	%			1.35	%			1.21	%			1.33		%			1.18	%
Return on average equity (1)			13.06	%			13.23	%			13.00	%			12.98		%			12.98	%
Net interest margin (1)(2)			4.35	%			4.22	%			3.83	%			4.27		%			3.81	%
Effective tax rate			19.3	%			19.7	%			18.7	%			19.6		%			18.0	%
Efficiency ratio (3)			63.0	%			61.7	%			61.2	%			62.5		%			62.6	%
Adjusted non-interest income to total income (3)			18.7	%			21.4	%			22.2	%			20.0		%			21.2	%
Average balances:
Investment securities		$	355,093			$	349,813			$	362,717			$	351,919				$	368,106
Loans			1,078,122				1,090,422				1,108,545				1,087,322					1,079,883
Assets			1,598,403				1,602,782				1,617,429				1,598,613					1,595,044
Interest-bearing deposits			938,787				958,407				984,335				959,951					976,463
Total deposits			1,318,397				1,336,971				1,347,357				1,336,813					1,334,940
FHLB and other borrowings			57,381				49,201				72,871				44,919					65,192
Subordinated debentures			21,651				21,651				21,651				21,651					21,651
Repurchase agreements			1,518				1,809				1,833				1,732					5,691
Stockholders’ equity		$	166,347			$	163,505			$	150,434			$	164,119				$	144,591
Average tax equivalent yield/cost (1):
Investment securities			3.80	%			3.66	%			3.35	%			3.67		%			3.33	%
Loans			6.46	%			6.31	%			6.37	%			6.39		%			6.36	%
Total interest-bearing assets			5.79	%			5.66	%			5.61	%			5.71		%			5.58	%
Interest-bearing deposits			1.81	%			1.82	%			2.18	%			1.85		%			2.16	%
Total deposits			1.29	%			1.30	%			1.59	%			1.32		%			1.58	%
FHLB and other borrowings			4.00	%			3.95	%			4.67	%			3.99		%			4.68	%
Subordinated debentures			6.07	%			6.00	%			6.62	%			6.03		%			6.64	%
Repurchase agreements			3.40	%			3.10	%			3.68	%			3.24		%			3.15	%
Total interest-bearing liabilities			2.03	%			2.01	%			2.44	%			2.03		%			2.41	%
Capital ratios:
Equity to total assets			10.05	%			10.39	%			9.63	%
Tangible equity to tangible assets (3)			8.09	%			8.44	%			7.66	%
Book value per share (4)		$	26.24			$	27.35			$	25.64
Tangible book value per share (3)(4)		$	20.68			$	21.76			$	19.96
Rollforward of allowance for credit losses (loans):
Beginning balance		$	12,657			$	12,609			$	13,762			$	12,458				$	12,825
Charge-offs			(75	)			(825	)			(2,380	)			(1,294	)				(2,591	)
Recoveries			61				373				67				479					215
Provision for credit losses for loans			250				500				850				1,250					1,850
Ending balance		$	12,893			$	12,657			$	12,299			$	12,893				$	12,299
Allowance for unfunded loan commitments		$	175			$	220			$	150
Non-performing assets:
Non-accrual loans		$	12,479			$	13,051			$	9,999
Accruing loans over 90 days past due			–				–				–
Real estate owned			441				–				–
Total non-performing assets		$	12,920			$	13,051			$	9,999
Loans 30-89 days delinquent		$	8,322			$	6,282			$	4,853
Other ratios:
Loans to deposits			85.55	%			83.50	%			83.36	%
Loans 30-89 days delinquent and still accruing to gross loans outstanding			0.77	%			0.57	%			0.43	%
Total non-performing loans to gross loans outstanding			1.16	%			1.18	%			0.89	%
Total non-performing assets to total assets			0.81	%			0.81	%			0.62	%
Allowance for credit losses to gross loans outstanding			1.19	%			1.15	%			1.10	%
Allowance for credit losses to total non-performing loans			103.32	%			96.98	%			123.00	%
Net loan charge-offs to average loans (1)			0.01	%			0.17	%			0.83	%			0.10	%				0.29	%

(1) Information is annualized.
(2) Net interest margin is presented on a fully tax equivalent basis, using a 21% federal tax rate.
(3) Non-GAAP financial measures. See the “Non-GAAP Financial Measures” section of this press release for a reconciliation to the most comparable GAAP equivalent.
(4) Share and per share values at or for the period ended September 30, 2025 have been adjusted to give effect to the 5% stock dividend paid during December 2025.

LANDMARK BANCORP, INC. AND SUBSIDIARIES
Non-GAAP Financial Measures (unaudited)

		As of or for the three months ended,														As of or for the nine months ended,
		September 30,				June 30,				September 30,					September 30,				September 30,
(Dollars in thousands, except per share amounts)		2026				2026				2025					2026				2025
Non-GAAP financial ratio reconciliation:
Net interest income		$	15,642			$	15,080			$	14,094				$	45,745			$	40,896
Non-interest income			3,602				4,095				4,068					11,461				11,052
Total revenue		$	19,244			$	19,175			$	18,162				$	57,206			$	51,948
Total non-interest expense		$	12,253			$	11,961			$	11,251				$	36,112			$	32,973
Less: foreclosure and real estate owned expense			(1	)			1				(22	)				(3	)			(23	)
Less: amortization of other intangibles			(133	)			(132	)			(152	)				(398	)			(455	)
Adjusted non-interest expense (A)			12,119				11,830				11,077					35,711				32,495
Net interest income (B)			15,642				15,080				14,094					45,745				40,896
Non-interest income			3,602				4,095				4,068					11,461				11,052
Less: losses on sales of investment securities, net			–				–				–					–				2
Less: losses (gains) on sales of premises and equipment and foreclosed assets			3				–				(55	)				(29	)			(64	)
Adjusted non-interest income (C)		$	3,605			$	4,095			$	4,013				$	11,432			$	10,990
Efficiency ratio (A/(B+C))			63.0	%			61.7	%			61.2	%				62.5	%			62.6	%
Adjusted non-interest income to total income (C/(B+C))			18.7	%			21.4	%			22.2	%				20.0	%			21.2	%
Total stockholders’ equity		$	160,251			$	166,858			$	155,727
Less: goodwill and other intangible assets			(33,969	)			(34,102	)			(34,500	)
Tangible equity (D)		$	126,282			$	132,756			$	121,227
Total assets		$	1,595,255			$	1,606,516			$	1,617,075
Less: goodwill and other intangible assets			(33,969	)			(34,102	)			(34,500	)
Tangible assets (E)		$	1,561,286			$	1,572,414			$	1,582,575
Tangible equity to tangible assets (D/E)			8.09	%			8.44	%			7.66	%
Shares outstanding at end of period (F) (1)			6,106,859				6,100,582				6,073,744
Tangible book value per share (D/F) (1)		$	20.68			$	21.76			$	19.96

(1) Share and per share values at or for the period ended September 30, 2025 have been adjusted to give effect to the 5% stock dividend paid during December 2025.