Month: October 2026

BEDFORD, Mass., Oct. 29, 2026 (GLOBE NEWSWIRE) — Ocular Therapeutix, Inc. (NASDAQ: OCUL, “Ocular”), an integrated biopharmaceutical company committed to redefining the retina experience, today announced participation in several upcoming investor and scientific conferences in November 2026.

Upcoming Investor Conference:

UBS Global Biopharma Conference 2026:
Date: Tuesday, November 17, 2026
Fireside Chat: 12:00 – 12:30 PM GMT
Presenter: Pravin U. Dugel, MD, Executive Chairman, President and CEO
Location: London, UK

A live webcast of the fireside chat can be accessed by visiting the Ocular Therapeutix website on the Events and Presentations section of the Investor Relations page. A replay of the webcasts will be archived for at least 30 days following the presentation.

Upcoming Scientific Conferences:

The Empire Forum: November 5, 2026
New York, NY

• Presentation Title: Ocular Therapeutix, Redefining the Retina Experience
  Session: The Durability Race, Wet Age-Related Macular Degeneration
  Presentation Date/Time: Thursday, November 5, 2026, 2:51 – 2:58 PM ET
  Presenter: Jeffrey S. Heier, MD, Chief Scientific Officer

OSN New York & OSN New York Retina 2026: November 6-8, 2026
New York, NY

• Symposium: Redefining the Management of nAMD: The Impact of Durability and Sustained Disease Control
  Symposium Date/Time: Saturday, November 7, 2026, 5:00 – 6:00 PM EST
  Presenters: Mark R. Barakat, MD, FASRS; Andrew Moshfeghi, MD, MBA, FASRS; Dilsher S. Dhoot, MD, FASRS; Yasha S. Modi, MD, FASRS; Jeffrey S. Heier, MD, Chief Scientific Officer

Exact medical conference presentation times may be subject to change.

About Ocular Therapeutix, Inc.
Ocular Therapeutix, Inc. is an integrated biopharmaceutical company committed to redefining the retina experience. AXPAXLI™ (also known as OTX-TKI), Ocular’s investigational product candidate for retinal disease, is an axitinib intravitreal hydrogel based on its ELUTYX™ proprietary bioresorbable hydrogel-based formulation technology. AXPAXLI is currently in Phase 3 clinical trials for wet age-related macular degeneration (wet AMD), and diabetic retinal disease, including non-proliferative diabetic retinopathy (NPDR).

Ocular’s pipeline also leverages the ELUTYX technology in its commercial product DEXTENZA^®, an FDA-approved corticosteroid for the treatment of ocular inflammation and pain following ophthalmic surgery in adults and pediatric patients and ocular itching associated with allergic conjunctivitis in adults and pediatric patients aged two years or older, and in its investigational product candidate OTX-TIC, which is a travoprost intracameral hydrogel that has completed a Phase 2 clinical trial for the treatment of open-angle glaucoma or ocular hypertension. Ocular is currently evaluating next steps for the OTX-TIC program.

Follow the Company on its website, LinkedIn, or X.

DEXTENZA^® is a registered trademark of Ocular Therapeutix, Inc. The Ocular Therapeutix logo, AXPAXLI™, ELUTYX™, and Ocular Therapeutix™ are trademarks of Ocular Therapeutix, Inc.

Investors & Media
Ocular Therapeutix, Inc.
Bill Slattery
Vice President, Investor Relations
bslattery@ocutx.com

Jet Excellence charter operator will use Gogo’s flexible financing solution to install high-speed, low-latency connectivity on its entire Citation X fleet

BROOMFIELD, Colo., Oct. 29, 2026 (GLOBE NEWSWIRE) — Gogo (NASDAQ: GOGO) today announced that Jet Excellence, a leading U.S.-based charter operator, will equip its entire fleet of Cessna Citation X aircraft with the Gogo Galileo HDX connectivity system. Jet Excellence is also taking advantage of Gogo’s flexible financing solution, helping the operator manage the cost of upgrading all of its Citation X fleet while accelerating access to the latest high-performance inflight connectivity technology.

The announcement follows receipt of a Federal Aviation Administration (FAA) Supplemental Type Certificate (STC) for the installation of Gogo Galileo HDX on the Citation X. Installations by Araina Aviation are beginning immediately.

Jet Excellence provides aircraft capacity to many of the business aviation industry’s leading fractional ownership, membership and charter providers. Equipping its entire Citation X fleet with Gogo Galileo will enable Jet Excellence to offer consistent and high-performance connectivity across more of its aircraft.

“Reliable inflight connectivity has become a crucial part of the service our customers expect us to provide,” says McQueen Campbell, CEO at Jet Excellence. “Gogo Galileo gives us the performance and global coverage needed to support passengers who want to remain productive and entertained throughout their flights. Gogo’s financing solution also gives us a practical way to introduce that capability across our fleet on an accelerated schedule.”

Gogo Galileo is powered by Eutelsat’s OneWeb enterprise-grade low-earth-orbit (LEO) satellite network, providing high-speed, low-latency connectivity around the world. Passengers and crew can simultaneously use multiple devices for video conferencing, streaming, email, communications and internet browsing. The Galileo HDX electronically steered antenna offers a compact, lightweight, aerodynamic and low-power solution capable of delivering reliable high speeds. Gogo Galileo is optimized for aircraft ranging from turboprops and light jets to larger business aircraft.

“Jet Excellence operates in an environment where aircraft availability, operating economics and a consistent passenger experience are all critical,” says Christopher Moore, Chief Executive Officer for Gogo. “Our role is not simply to provide connectivity, but to help customers choose, integrate and support the solution that’s right for their operation. By combining Gogo Galileo with flexible financing, we’re making it easier for operators to modernize their fleets and invest with confidence.”

Gogo’s flexible financing solution is designed to make advanced connectivity more accessible by allowing operators to pay for the equipment in installments over five years. As part of Gogo’s customer-first approach, customers also benefit from predictable pricing, 24/7/365 multilingual support, and a commitment to data privacy and cybersecurity. Built on a future-ready platform, Gogo Galileo enables operators to adapt as connectivity technologies and operational requirements continue to evolve.

Photo caption: Jet Excellence will equip its entire fleet of Cessna Citation X aircraft with Gogo Galileo HDX high-speed, low-latency connectivity.

About Gogo
Gogo has been the trusted connectivity infrastructure partner for business aviation and military/government for three decades. Rather than promoting a single network or technology, Gogo helps customers navigate an increasingly complex connectivity landscape by combining deep market knowledge, global aviation expertise and expert guidance to identify, integrate and support the connectivity solution best suited to their aircraft, mission and operational requirements.

Providing access to a complete network neutral connectivity ecosystem including onboard hardware, software, air-to-ground and multi-orbit, multi-band satellite connectivity, service plans, and 24/7/365 multilingual customer support, Gogo delivers customers the flexibility, choice and long-term partnership they need through a single trusted provider. Dedicated to its customer-first philosophy, the company combines long-standing customer relationships with a commitment to cybersecurity, data privacy, flexible financing, predictable long-term pricing, and future-proofed technology to help customers invest with confidence.

From light business aircraft to executive airliners and specialized government platforms, Gogo delivers secure, reliable connectivity that enables customers to fly, work and connect with confidence.

Media contacts – Gogo

Caroline Phaneuf – Arena Group         
caroline@arenagroupassociates.com                                
+1 514 778 5092        

Stacey Giglio                                                                       
sgiglio@gogoair.com                          
+1 321 361 6101

Investor contact – Gogo

Amy Greene
alocasciogreene@gogoair.com
+1 303 301 3313
                        

Cautionary Note Regarding Forward-Looking Statements

Certain disclosures in this press release and related comments by our management include forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements include, without limitation, statements regarding our business outlook, industry, business strategy, plans, goals and expectations concerning our market position, international expansion, future technologies, future operations, margins, profitability, future efficiencies, capital expenditures, liquidity and capital resources and other financial and operating information. When used in this discussion, the words “anticipate,” “assume,” “believe,” “budget,” “continue,” “could,” “estimate,” “expect,” “forecast,” “intend,” “may,” “plan,” “potential,” “predict,” “project,” “should,” “will,” “future” and the negative of these or similar terms and phrases are intended to identify forward-looking statements in this press release. Forward-looking statements are based on our current expectations regarding future events, results or outcomes. These expectations may or may not be realized. Although we believe the expectations reflected in the forward-looking statements are reasonable, we can give you no assurance these expectations will prove to have been correct. Some of these expectations may be based upon assumptions, data or judgments that prove to be incorrect. Actual events, results and outcomes may differ materially from our expectations due to a variety of known and unknown risks, uncertainties and other factors. Although it is not possible to identify all of these risks and factors, they include, among others, the following: our ability to continue to generate revenue from the provision of our connectivity and other service offerings; our development and fixed-price contracts; our reliance on our key OEMs and dealers for equipment sales; our dependence on single-source, third party satellite network providers; the impact of competition; our ability to maintain high-quality customer support; our reliance on third parties for equipment components and services; our participation in U.S. government contracts; our participation in non-U.S. government contracts; the finite useful life of satellites; the impact of global supply chain and logistics issues, tariffs and inflationary trends; the continued expansion of our business outside of the United States; foreign currency risk; our ability to recruit, train and retain highly skilled employees, and the loss of any key personnel; the impact of pandemics or other outbreaks of contagious diseases, and the measures implemented to combat them; the impact of adverse economic conditions; our ability to fully utilize portions of our deferred tax assets; the impact of attention to climate change, conservation measures and other sustainability-related matters; our ability to evaluate or pursue strategic opportunities; our ability to integrate Satcom Direct’s business, and the potential failure to realize or delay in realizing all of the anticipated benefits of the acquisition; the changes in executive management that occurred as part of the Satcom Direct acquisition; our ability to develop and deploy Gogo 5G, Gogo Galileo or other next generation technologies; our ability to maintain our rights to use our licensed 4Mhz of ATG spectrum in the United States and obtain rights to additional spectrum if needed; the impact of service interruptions or delays, cyberattacks, technology failures, equipment damage or system disruptions or failures; the impact of assertions by third parties of infringement, misappropriation or other violations; our ability to innovate and provide products and services; our ability to protect our intellectual property rights; risks associated with the use of artificial intelligence in our products and services; the impact of our use of open-source software; the impact of equipment failure or material defects or errors in our software; our ability to comply with applicable foreign ownership limitations; the impact of government regulation of communication networks, and the internet; the ongoing partial government shutdown; our possession and use of personal information; risks associated with participation in the FCC Reimbursement Program; our ability to comply with anti-bribery, anti-corruption and anti-money laundering laws; the extent of expenses, liabilities or business disruptions resulting from litigation; the impact of global climate change and legal, regulatory or market responses to it; the impact of the distribution of income among various jurisdictions in which we operate as well as changes in tax law or regulation on our U.S. and non-U.S. tax liabilities; the impact of changes in laws and regulations on U.S. government contractors; the impact of our substantial indebtedness; our ability to obtain additional financing to refinance or repay our existing indebtedness the impact of restrictions and limitations in the agreements and instruments governing our debt; the impact of an increase in interest rates; the impact of a substantial portion of our indebtedness being secured by substantially all of our assets; the impact of a substantial change in rating assigned by a rating agency; the volatility of our stock price; our ability to fully utilize our tax losses; the dilutive impact of future stock issuances; the impact of our stockholder concentration; our ability to fulfill the obligations of being  a public company; the impact of an identified material weakness in our internal controls; the impact of certain provisions of our charter, bylaws, and Delaware law; and other factors listed under the caption “Risk Factors” in our annual report on Form 10-K for the year ended December 31, 2025 as filed with the Securities and Exchange Commission (“SEC”) on February 27, 2026 and in our subsequent quarterly reports on Form 10-Q as filed with the SEC.

Any one of these factors or a combination of these factors could materially affect our financial condition or future results of operations and could influence whether any forward-looking statements contained in this report ultimately prove to be accurate. Our forward-looking statements are not guarantees of future performance, and you should not place undue reliance on them. All forward-looking statements speak only as of the date made and we undertake no obligation to update or revise publicly any forward-looking statements, whether as a result of new information, future events or otherwise. 

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/fb47b9c0-e25f-44b5-aead-527ee569c670

• Q3’26 Total Net Revenue of $356 Million, Up 13% YoY
• Record Quarterly Total SUBLOCADE® Net Revenue of $267 Million in Q3’26, Up 22% YoY
• Record Quarterly Net Income of $137 Million and Record Non-GAAP Net Income of $161 Million in Q3’26
• Record Quarterly Adjusted EBITDA of $211 Million in Q3’26, Up 76% YoY
• Net Income Margin of 39%, up 2,500 basis points YoY, Adjusted EBITDA Margin of 59%, Up 2,100 Basis Points YoY
• On Track to Close Merger with Supernus on November 2nd

RICHMOND, Va., Oct. 29, 2026 (GLOBE NEWSWIRE) — Indivior Pharmaceuticals, Inc. (Nasdaq: INDV) today reported its financial results for the third quarter ended September 30, 2026.

“In the third quarter, we delivered record SUBLOCADE net revenue and record adjusted EBITDA, reflecting the strength of our business and the disciplined execution of the Indivior Action Agenda,” said Joe Ciaffoni, Chief Executive Officer. “Upon the imminent closing of our merger with Supernus, we will have successfully completed all three phases of the Indivior Action Agenda. I want to thank the Indivior team for their commitment and hard work that generated these results and made the transaction with Supernus possible. I am confident in Supernus’ future and its ability to build on this strong foundation for people living with central nervous system diseases and to create long-term value for shareholders.”

“We achieved record financial performance in the third quarter, including SUBLOCADE net revenue growth of 22% year-over-year and adjusted EBITDA margin of 59%, up 2,100 basis points year-over-year,” said Ryan Preblick, Chief Financial Officer. “Our strong results and the execution of our Indivior Action Agenda puts us on track to achieve our previously communicated 2026 financial guidance, excluding the impact of our pending acquisition. Strong cash generation brought cash and investments to $332 million at quarter end, adding to the financial strength we will bring to our merger with Supernus.”

Q3 2026 Business Highlights:

• As of September 30, 2026, over 583,000 patients in the U.S. have been prescribed SUBLOCADE since launch.
• Grew total SUBLOCADE net revenue 22% year-over-year to $267 million. U.S. SUBLOCADE net revenue increased 24% year-over-year to $252 million versus the prior year, primarily driven by 17% dispense unit volume growth. Net revenue also benefited from more favorable price/mix and gross-to-net adjustments.
• In August 2026, Indivior and Supernus Pharmaceuticals, Inc. (“Supernus”) announced a definitive agreement to combine in an all-stock merger of equals transaction to create a leading, diversified, scaled, CNS-focused biopharmaceutical company.
• In September 2026, Indivior announced that its Board of Directors declared a special cash dividend contingent upon closing of the pending merger transaction with Supernus.
• In October 2026, Indivior shareholders approved the proposed merger with Supernus. The merger is expected to close on November 2, 2026, at which time the combined company will operate as Supernus, Inc. and will trade on the Nasdaq Global Select Market under the ticker symbol “SUPN” beginning November 3, 2026.

Full-Year 2026 Financial Guidance:

Prior to the closing of the merger, Indivior is on track to achieve its previously communicated full year 2026 guidance as a standalone organization. That guidance assumed no material change in exchange rates for key currencies compared with 2025 average rates, notably USD/GBP and USD/EUR. Assuming the merger is completed November 2, 2026, we will operate as a combined company and the guidance will no longer apply.

	FY 2026 Guidance
Net Revenue	$1,295 million to $1,365 million
Total SUBLOCADE Net Revenue	$1,010 million to $1,050 million
Non-GAAP Operating Expenses*	$430 million to $450 million
Adjusted EBITDA*	$700 million to $740 million

*We did not provide the forward-looking U.S. GAAP equivalents for certain forward-looking non-U.S. GAAP metrics as a result of the uncertainty and potential variability of reconciling items. Instead, the Company has relied upon the exception in Item 10(e)(1)(i)(B) of Regulation S-K to exclude such reconciliations, as the reconciliations of these non-U.S. GAAP guidance metrics to their corresponding U.S. GAAP equivalents are not available without unreasonable effort.

Financial Results for Quarter Ended September 30, 2026:

• Total net revenue was $356 million for the quarter ended September 30, 2026 (the 2026 quarter), compared to $314 million for the quarter ended September 30, 2025 (the 2025 quarter), representing a 13% increase year-over-year.
• Total SUBLOCADE net revenue was $267 million for the 2026 quarter, compared to $219 million for the 2025 quarter, representing a 22% increase year-over-year.
• GAAP operating expenses were $125 million for the 2026 quarter, compared to $187 million for the 2025 quarter, representing a 33% decrease year-over-year. Non-GAAP operating expenses, which exclude stock-based compensation expense and other adjustments, were $103 million for the 2026 quarter, compared to $145 million for the 2025 quarter, representing a 29% decrease year-over-year.
• GAAP net income for the 2026 quarter was $137 million ($1.12 diluted earnings per share), compared to GAAP net income for the 2025 quarter of $42 million ($0.33 diluted earnings per share). Non-GAAP net income for the 2026 quarter was $161 million ($1.32 diluted earnings per share), compared to non-GAAP net income for the 2025 quarter of $93 million ($0.72 diluted earnings per share).
• Adjusted EBITDA for the 2026 quarter was $211 million, compared to $120 million for the 2025 quarter, representing a 76% increase year-over-year.
• The Company ended the 2026 quarter with cash and investments of $332 million.

Financial Results for Nine Months Ended September 30, 2026:

• Total net revenue was $1,016 million for the nine months ended September 30, 2026 (the 2026 period), compared to $881 million for the nine months ended September 30, 2025 (the 2025 period), representing a 15% increase year-over-year.
• Total SUBLOCADE net revenue was $753 million for the 2026 period, compared to $604 million for the 2025 period, representing a 25% increase year-over-year.
• GAAP operating expenses were $398 million for the 2026 period, compared to $521 million for the 2025 period, representing a 24% decrease year-over-year. Non-GAAP operating expenses, which exclude stock-based compensation expense and other adjustments, were $331 million for the 2026 period, compared to $459 million for the 2025 period, representing a 28% decrease year-over-year.
• GAAP net income for the 2026 period was $348 million ($2.78 diluted earnings per share), compared to GAAP net income for the 2025 period of $108 million ($0.85 diluted earnings per share). Non-GAAP net income for the 2026 period was $427 million ($3.41 diluted earnings per share), compared to non-GAAP net income for the 2025 period of $213 million ($1.68 diluted earnings per share).
• Adjusted EBITDA for the 2026 period was $562 million, compared to $286 million for the 2025 period, representing a 97% increase year-over-year.

About Indivior

As the leader in long-acting injectable treatments for opioid use disorder (OUD), Indivior is singularly focused on delivering evidence-based treatment and advancing understanding of OUD as a chronic but treatable brain disease. For more than 25 years, we have revolutionized the science of addiction medicine — developing treatments that help people move toward long-term recovery with independence and dignity. Building on this heritage, we are ushering in a new era, renewing our commitment to individuals living with OUD and carrying forward what matters most: compassion, integrity, and science. Together – with science, people living with OUD, public health champions, and communities, we are powering recovery and renewing hope. Visit www.indivior.com to learn more. Connect with Indivior on LinkedIn by visiting www.linkedin.com/company/Indivior.

Columns and rows within financial tables may not foot due to rounding. Percentages and per share data in the financial tables have been calculated using actual, non-rounded figures.

Non-GAAP Financial Measures:

Non-GAAP financial measures adjust for non-recurring items and other items representing expenses or income that we believe do not reflect the Company’s ongoing operations or the adjustment of which may help with the comparison to prior periods. The Company believes its non-GAAP financial measures may be useful to investors to understand the Company’s performance. In addition, the Company uses “Adjusted EBITDA” in its annual incentive plan in which all executive officers participate.

Important Cautionary Note Regarding Forward-Looking Statements:

This announcement contains certain statements that are forward-looking statements. All statements other than statements of historical fact are forward-looking statements. Forward-looking statements include, among other things, express and implied statements regarding: our 2026 financial guidance including with respect to net revenue, total SUBLOCADE net revenue, non-GAAP operating expenses, and adjusted EBITDA; the expected completion and timing of the closing of our previously announced merger with Supernus, including the payment and timing of the special cash dividend, the expected operation, performance, and prospects of the combined company; potential expense reductions; expected acceleration in SUBLOCADE net revenue and dispense unit growth; expected growth in adjusted EBITDA, cash flow, and our bottom line, and expected acceleration of such growth; expected creation of shareholder value; and other statements containing the words “believe,” “anticipate,” “plan,” “expect,” “intend,” “estimate,” “forecast,” “strategy,” “target,” “guidance,” “outlook,” “potential,” “project,” “priority,” “may,” “will,” “should,” “would,” “could,” “can,” the negatives thereof, and variations thereon and similar expressions. By their nature, forward-looking statements involve risks and uncertainties as they relate to events or circumstances that may or may not occur in the future.

Prospective investors are cautioned that any such forward-looking statements are not guarantees of future performance and only express management’s beliefs regarding future results or events which, by their nature, are inherently uncertain and outside of management’s control or ability to predict. Actual results may differ materially from those expressed or implied in these forward-looking statements due to a number of factors, including but not limited to: market disruptions or unanticipated delays; lower than expected future sales of our products; greater than expected impacts from competition; and unanticipated costs including the effects of potential tariffs and potential retaliatory tariffs; the effect of additional indebtedness incurred to fund the special cash dividend; potential business disruption and diversion of management attention; difficulties integrating the businesses; and potential failure to realize anticipated benefits and synergies. For additional information about some of the risks and important factors that could affect our future results and financial condition, see “Important Cautionary Note Regarding Forward-looking Statements” and “Risk Factors” in Indivior’s Annual Report on Form 10-K filed February 26, 2026, Indivior’s quarterly reports on Form 10-Q for the quarters ended March 31, June 30, and September 30, 2026, the definitive joint proxy statement/prospectus filed September 11, 2026, and our other filings with the U.S. Securities and Exchange Commission.

We have based the forward-looking statements in this release on our current expectations and beliefs concerning future events. Forward-looking statements contained in this release speak only as of the day they are made and, except as required by law, we undertake no obligation to update or revise any forward-looking statement, whether due to new information, or to reflect events or developments that occur after the date the statement was made.

Important Additional Information and Where to Find It
In connection with the proposed merger, Indivior filed a registration statement on Form S-4 with the SEC, which was declared effective on September 11, 2026 and includes a definitive joint proxy statement/prospectus. INVESTORS AND SECURITY HOLDERS ARE URGED TO READ THE REGISTRATION STATEMENT, DEFINITIVE JOINT PROXY STATEMENT/PROSPECTUS AND OTHER RELEVANT DOCUMENTS FILED WITH THE SEC CAREFULLY BEFORE MAKING ANY VOTING OR INVESTMENT DECISION. Free copies of these documents and other documents filed by Indivior with the SEC may be obtained at the SEC’s website at www.sec.gov. Copies of Indivior’s filings may also be obtained free of charge on Indivior’s website at www.indivior.com, and copies of Supernus’s filings may be obtained free of charge on Supernus’s website at www.supernus.com.

No Offer or Solicitation
This announcement is not a solicitation of a proxy, consent or authorization in respect of any securities or in respect of the proposed merger, and it is not an offer to sell or a solicitation of an offer to buy any securities, nor shall there be any sale of securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of such jurisdiction. No offering of securities shall be made except by means of a prospectus meeting the requirements of Section 10 of the Securities Act of 1933, as amended.

For Further Information:

Investors	Jason Thompson	VP, Investor Relations	+1 804 402 7123 jason.thompson@indivior.com
Media	Cassie France-Kelly	VP, Communications	+1 804 594 0836 Indiviormediacontacts@indivior.com

Indivior Pharmaceuticals, Inc.
(Amounts in millions, except per share data and percentages)
(Unaudited)

Condensed consolidated statements of operations

	Three Months Ended September 30,						Nine Months Ended September 30,
		2026			2025			2026			2025
Net revenue	$	356		$	314		$	1,016		$	881
Cost of sales		51			83			140			179
Gross profit		305			230			875			702
Selling, general and administrative		119			154			364			445
Research and development		5			33			33			76
Total operating expenses		125			187			398			521
Operating income		180			43			477			181
Interest (income)		(4	)		(6	)		(9	)		(16	)
Interest expense		2			12			10			39
Loss on debt extinguishment		—			—			18			—
Income before income taxes		182			37			457			158
Income tax expense (benefit)		45			(5	)		109			50
Net income	$	137		$	42		$	348		$	108
Earnings per share
Basic	$	1.16		$	0.34		$	2.89		$	0.87
Diluted	$	1.12		$	0.33		$	2.78		$	0.85

Indivior Pharmaceuticals, Inc.
(Amounts in millions, except per share data and percentages)
(Unaudited)

Condensed consolidated balance sheets

	September 30, 2026			December 31, 2025
Assets
Current assets
Cash and cash equivalents	$	305		$	195
Accounts receivable, net of allowances of $3 (2026) and $4 (2025)		273			253
Inventories		149			153
Prepaid expenses		21			34
Current tax receivable		13			2
Other current assets		40			16
Total current assets		800			652
Long-term investments		27			28
Property, plant and equipment, net		175			144
Operating lease right of use assets, net		12			26
Goodwill and other intangible assets, net		2			2
Deferred tax assets		288			323
Other noncurrent assets		27			27
Total assets	$	1,332		$	1,201
Liabilities and stockholders’ deficit
Current liabilities
Accrued rebates and product returns	$	548		$	582
Accounts payable and accrued expenses		181			250
Accrued litigation settlement expenses, current		14			42
Current portion of long-term debt		488			29
Operating lease liabilities, current		7			10
Income taxes payable		63			2
Total current liabilities		1,301			914
Long-term debt, less current portion		—			290
Accrued litigation settlement expenses, noncurrent		42			52
Operating lease liabilities, noncurrent		6			22
Other noncurrent liabilities		42			21
Total liabilities		1,392			1,300
Stockholders’ deficit
Common stock, par value $0.001 per share (2026) and $0.50 per share (2025). Issued shares: 118 (2026) and 125 (2025)		—			62
Additional paid-in capital		163			112
Accumulated other comprehensive loss		(26	)		(30	)
Accumulated deficit		(197	)		(243	)
Total stockholders’ deficit		(60	)		(98	)
Total liabilities and stockholders’ deficit	$	1,332		$	1,201

Indivior Pharmaceuticals, Inc.
(Amounts in millions, except per share data and percentages)
(Unaudited)

Condensed consolidated statements of cash flows

	Nine Months Ended September 30,
		2026			2025
Cash flows from operating activities:
Net income	$	348		$	108
Adjustments to reconcile net income to net cash from operating activities:
Depreciation and amortization		5			8
Amortization of right-of-use assets		4			7
Stock-based compensation expense		28			21
Impairment of tangible and intangible assets		8			16
Loss on debt extinguishment		18			—
Unrealized loss on equity investments		—			1
Deferred income taxes		35			(8	)
Impact from foreign exchange movements		4			(2	)
Amortization of debt issuance costs		1			—
Other adjustments, net		—			2
Change in operating assets and liabilities		(135	)		42
Net cash provided by operating activities		317			194
Cash flows from investing activities:
Purchases of property and equipment		(41	)		(42	)
Purchases of in-process research and development and intangible assets		—			(1	)
Purchases of investments in debt securities		(12	)		(14	)
Sales and maturities of debt securities		13			14
Net cash used in investing activities		(41	)		(42	)
Cash flows from financing activities:
Proceeds from the issuance of common stock		—			2
Cash paid for repurchases of common stock		(302	)		(11	)
Proceeds from debt, net		489			—
Repayments of debt		(333	)		(12	)
Transaction costs related to debt refinancing		(5	)		—
Settlement of equity awards		(21	)		(3	)
Other		6			—
Net cash used in financing activities		(166	)		(25	)
Net increase in cash and cash equivalents		110			128
Exchange differences		—			(1	)
Cash and cash equivalents at beginning of period		195			319
Cash and cash equivalents at end of period	$	305		$	445

Indivior Pharmaceuticals, Inc.
(Amounts in millions, except per share data and percentages)
(Unaudited)

Selected revenue information

	Three Months Ended September 30,				Nine Months Ended September 30,
		2026		2025		2026		2025
US:
SUBLOCADE*	$	252	$	203	$	707	$	561
Sublingual & other		53		51		160		157
OPVEE1		—		8		—		8
PERSERIS2		2		6		12		19
Total U.S.		307		267		880		745
Rest of World		48		47		136		137
Net revenue	$	356	$	314	$	1,016	$	881
*Total SUBLOCADE net revenue	$	267	$	219	$	753	$	604

¹Discontinued sales and marketing support for OPVEE® during Q3 2025.

²Marketing and promotion activities for PERSERIS were discontinued in 2024.

Reconciliation of GAAP to non-GAAP financial information

	Three Months Ended September 30,				Nine Months Ended September 30,
		2026		2025		2026		2025
GAAP operating expenses	$	125	$	187	$	398	$	521
Stock-based compensation		8		6		28		21
Corporate initiative transition1		14		35		38		41
Litigation settlement expense		—		—		—		1
Less: Adjustments in operating expenses		22		42		67		62
Non-GAAP operating expenses	$	103	$	145	$	331	$	459

¹Includes severance, consulting, impairment, and costs related to planned facility closures.

Non-GAAP diluted earnings per share
Management believes that non-GAAP diluted earnings per share, which excludes the impact of certain non-recurring items and other adjustments, net of applicable tax effects, may provide useful information to shareholders regarding underlying trends in earnings per share. A reconciliation of GAAP net income to non-GAAP net income, as well as the weighted average shares used in computing non-GAAP diluted earnings per share, is included in the table below.

	Three Months Ended September 30,						Nine Months Ended September 30,
		2026			2025			2026			2025
GAAP net income	$	137		$	42		$	348		$	108
Adjustments in cost of sales1		8			33			13			34
Adjustments in operating expenses		22			42			67			62
Adjustments in interest expense		—			—			—			4
Loss on debt extinguishment		—			—			18			—
Adjustments in tax expenses		(6	)		(24	)		(19	)		5
Non-GAAP net income	$	161		$	93		$	427		$	213
Shares used in computing diluted non-GAAP earnings per share		122			129			125			127
Non-GAAP diluted earnings per share	$	1.32		$	0.72		$	3.41		$	1.68

¹Includes manufacturing transition and other costs

Indivior Pharmaceuticals, Inc.
(Amounts in millions, except per share data and percentages)
(Unaudited)

Adjusted EBITDA
Adjusted EBITDA is a non-GAAP financial measure that represents GAAP net income adjusted to exclude interest expense, interest income, income tax expense or benefit, depreciation and amortization, stock-based compensation, and other adjustments reflecting changes in our business that do not represent ongoing operations. Adjusted EBITDA margin is Adjusted EBITDA divided by Total net revenue. Adjusted EBITDA, as used by us, may be calculated differently from, and therefore may not be comparable to, similarly titled measures used by other companies.

	Three Months Ended September 30,						Nine Months Ended September 30,
		2026			2025			2026			2025
Net income	$	137		$	42		$	348		$	108
Interest (income)		(4	)		(6	)		(9	)		(16	)
Interest expense		2			12			10			39
Income tax expense (benefit)		45			(5	)		109			50
Depreciation and amortization		1			2			5			8
Stock-based compensation		8			6			28			21
Corporate initiative transition		20			35			45			41
Manufacturing transition		2			2			6			4
Discontinuation of OPVEE sales and marketing		—			30			—			30
Loss on debt extinguishment		—			—			18			—
Litigation settlement expense		—			—			—			1
Adjusted EBITDA	$	211		$	120		$	562		$	286

CICERO, Ill., Oct. 29, 2026 (GLOBE NEWSWIRE) — Broadwind (Nasdaq: BWEN, or the “Company”), a diversified precision manufacturer of specialized components and solutions serving global markets, today announced that it will issue third quarter 2026 results before the market opens on Thursday, November 12, 2026. A conference call will be held that same day at 11:00 a.m. ET to review the Company’s financial results, discuss recent events and conduct a question-and-answer session.

A webcast of the conference call and accompanying presentation materials will be available in the Investor Relations section of the Company’s corporate website at https://investors.bwen.com/investors. To listen to a live broadcast, go to the site at least 15 minutes prior to the scheduled start time in order to register, download, and install any necessary audio software.

To participate in the live teleconference:

Live Teleconference:	877-407-9716

To listen to a replay of the teleconference, which will be available through Thursday, November 19, 2026:

Teleconference Replay:	844-512-2921
Conference ID:	13762996

ABOUT BROADWIND 

Broadwind (Nasdaq: BWEN) is a precision manufacturer of structures, equipment and components for power generation, critical infrastructure, and other specialized applications. With facilities throughout the U.S., our talented team is committed to helping customers maximize performance of their investments—quicker, easier and smarter. Find out more at www.bwen.com

CONTACT: IR CONTACT

Noel Ryan, IRC or Brian Hawthorne
BWEN@val-adv.com

Pennsylvania credit union expands its digital banking experience with a secure, parent-controlled financial solution for families

BLUE BELL, Pa., Oct. 29, 2026 (GLOBE NEWSWIRE) — Rego Payment Architectures, Inc. (“REGO”) (OTCQB: RPMT), the leading white-label family financial lifecycle platform for financial institutions, today announced that Service 1st Federal Credit Union has launched Family Wallet, a youth banking experience powered by REGO and integrated within Service 1st’s digital banking experience. Service 1st has branded the experience designed specifically for kids as splashup!

Family Wallet gives parents a secure, supervised way to help their children build practical money skills, while splashup! gives kids an engaging way to earn, save, spend, and achieve goals. Parents maintain the visibility and control they need, and children gain real life experiences managing money. The integrated experience allows Service 1st to introduce younger members to digital banking within the same trusted relationship their families already have with the credit union.

“Financial empowerment has always been central to how Service 1st serves our members and communities,” said Christopher Court, Chief Strategy & Innovation Officer of Service 1st Federal Credit Union. “Family Wallet gives parents a practical way to teach healthy financial habits through real-life experience, with the oversight and safeguards families expect. By bringing this experience into our digital banking platform, we can support our members and their children through another important stage of their financial lives.”

Service 1st’s launch builds on a long-standing commitment to financial education. In 2025, the credit union held 18 high school financial reality fairs, including an event that engaged 1,890 students in hands-on learning focused on real-world financial decisions. Family Wallet extends that educational mission into members’ everyday digital banking experience.

“Service 1st understood that youth banking can deepen a financial institution’s relationship with the entire family while giving parents better tools to prepare their children for financial independence,” said Peter S. Pelullo, Chief Executive Officer of REGO. “Family Wallet gives banks and credit unions a differentiated, privacy-first family banking experience that can strengthen relationships across generations.”

REGO’s platform is designed from the ground up to protect children’s data and is certified to exceed the child data privacy requirements of the federal Children’s Online Privacy Protection Act, or COPPA. Financial institutions can deploy the platform under their own brand while maintaining the trusted relationship with their customers or members.

For more information about Service 1st Federal Credit Union, visit service1.org. For more information about REGO, visit regopayments.com.

About Service 1st Federal Credit Union

Service 1st Federal Credit Union is a full-service financial institution with total assets exceeding $850 million. We put the financial goals of our 53,000+ members at the heart of everything we do. Whether in one of our branches located in Bloomsburg, Danville, Elysburg, Lewisburg, Loyalsock, Mifflinburg, Montandon, Muncy, Shamokin Dam, Sunbury and Wilkes-Barre, or out and about in the community, our credit union team shares our core values that ensure our focus is always to strengthen the financial lives of our members and our community. After celebrating our 50th anniversary in 2025, we look forward to continuing this tradition for years to come. Member deposits are federally insured by the NCUA. For more information, visit service1.org.

About REGO

Rego Payment Architectures, Inc. (“REGO”) is a family digital wallet platform that empowers financial institutions to let their customers’ or members’ children spend, save, donate and invest in a safe, parent-controlled environment. Founded in 2008, REGO is the only family digital wallet platform to be certified COPPA (Children’s Online Privacy Protection Act) and third-party GDPR (General Data Protection Regulation) compliant. REGO has also been awarded multiple patents related to the safety of parent and child data, including age verification of users. Built from the ground up to protect the privacy of children’s data, REGO offers financial literacy tools for parents to teach their kids to be smarter shoppers, savers, givers and investors. Financial institutions of all sizes can offer a family digital wallet product through REGO as a white-labeled stand-alone application or fully integrated into their existing app. For more information, visit regopayments.com.

REGO Safe Harbor Statement

The information in this press release may contain forward-looking statements on REGO’s current expectations and projections about future events. These forward-looking statements are not guarantees and are subject to known and unknown risks, uncertainties, and assumptions about REGO that may cause the actual results, levels of activity, performance, or achievements to be materially different from any future results, levels of activity, performance, or achievements expressed or implied by such forward-looking statements. Important factors that could cause actual results to differ materially from REGO’s expectations include, but are not limited to: REGO’s ability to raise additional capital, the absence of any material operational history or revenue, REGO’s ability to attract and retain qualified personnel, the ability to develop and introduce a new service and products to the market in a timely manner, market acceptance of REGO’s services and products, REGO’s limited experience in the industry, the ability to successfully develop licensing programs and generate business, rapid technological change in relevant markets, unexpected network interruptions or security breaches, changes in demand for current and future intellectual property rights, legislative, regulatory and competitive developments, intense competition with larger companies, general economic conditions, and other risks as described by REGO in Item 1.A “Risk Factors” in REGO’s most recent Form 10-K; other risks to which REGO is subject; and other factors beyond REGO’s control.

All subsequent written and oral forward-looking statements attributable to REGO, or persons acting on REGO’s behalf, are expressly qualified in their entirety by the foregoing. REGO has no obligation to and does not undertake to update, revise, or correct any of these forward-looking statements after the date of this report.

Media Contact

Pawan Murthy
Chief Marketing Officer
Rego Payment Architectures, Inc.
pawan@regopayments.com

• Diranersen late-breaking symposium will feature 96-week long-term extension data and additional 76-week biomarker and clinical data from the Phase 2 CELIA study in early Alzheimer’s disease
• Lecanemab presentations will highlight new long-term and real-world evidence, including initial five-year Clarity AD open-label extension data and three-year LEADER data, with new analyses exploring maintenance treatment and at-home subcutaneous administration
• Presentations across Biogen’s Alzheimer’s disease portfolio reflect its continued commitment to advancing innovation in Alzheimer’s disease, from long-term treatment outcomes and real-world evidence to investigational approaches targeting core disease pathologies, including amyloid and tau

CAMBRIDGE, Mass., Oct. 29, 2026 (GLOBE NEWSWIRE) — Biogen Inc. (Nasdaq: BIIB) today announced it will present new data across its Alzheimer’s disease portfolio at the 19th Clinical Trials on Alzheimer’s Disease (CTAD) Conference, taking place November 16–19, 2026, at the Boston Marriott Copley Place in Boston, Massachusetts. Presentations will include expanded data from the Phase 2 CELIA study evaluating diranersen, an investigational tau-targeting antisense oligonucleotide (ASO), and new analyses from studies of lecanemab (brand name: LEQEMBI^®).

“Biogen has a long-standing commitment to advancing innovation in Alzheimer’s disease, from generating evidence that informs clinical practice to pursuing novel approaches that target core disease pathologies,” said Priya Singhal, M.D., M.P.H., Executive Vice President and Head of Development at Biogen. “At CTAD, we look forward to sharing important updates across our portfolio, including additional long-term and real-world evidence for LEQEMBI and new data from the Phase 2 CELIA study evaluating diranersen.”

Featured Scientific Sessions and Presentations

Diranersen
Diranersen is an investigational ASO designed to target MAPT mRNA and reduce the production of all tau isoforms, lowering both intracellular and extracellular tau protein. At CTAD, Biogen will present clinical, biomarker and safety data that build on results previously reported in July 2026 and further characterize the clinical, biomarker and safety profile of diranersen in the Phase 2 CELIA study in early Alzheimer’s disease.

• Late Breaking Symposium: Additional Biomarker and Clinical Findings from the Phase 2 CELIA Study of Diranersen in Early Alzheimer’s Disease: Late Breaking Symposium 1, Tuesday, November 17, 4:45–5:25 PM EST
  This symposium will feature three analyses from CELIA, including 96-week long-term extension efficacy and safety data, additional 76-week tau biomarker and amyloid PET data, and 76-week item analyses and select subgroup efficacy data. These data build on previously reported CELIA results and further characterize the clinical, biomarker and safety profile of diranersen in early Alzheimer’s disease.

Lecanemab
Featured lecanemab sessions at CTAD will highlight continued real-world evidence generation and long-term outcomes data related to the treatment of early Alzheimer’s disease.

• Symposium 5: Featured Research Session: Lecanemab Three Years Post-Approval: A Comprehensive Multicenter, Real-World, Retrospective Study (LEADER) in Diverse U.S. Clinical Settings
  Wednesday, November 18, 11:00–11:40 AM EST
  This session will feature new real-world evidence from the LEADER study, including findings on lecanemab utilization and outcomes from treatment initiation through maintenance therapy, sex-based outcomes, and experience with at-home subcutaneous lecanemab administration across diverse U.S. clinical settings.
• Oral Communication: Long-Term Outcomes with Lecanemab in Early Alzheimer’s Disease: Initial Findings Through 60-Months of Clarity AD Open-Label Extension
  Monday, November 16, 6:00 PM EST
  This oral presentation will report initial findings through five years of the Clarity AD open-label extension, including long-term clinical outcomes, disease progression and safety with continued lecanemab treatment in early Alzheimer’s disease.

Selected Additional Oral and Poster Presentations
Additional oral and poster presentations at CTAD highlight Biogen’s ongoing efforts to advance Alzheimer’s disease diagnosis, treatment and care, including real-world experience with lecanemab, approaches to patient identification and testing, treatment outcomes, and analyses modeling the potential broader impact of slowing disease progression. For a complete list of presentations, please refer to the CTAD scientific program.

• Lecanemab Treatment in Real-World Settings Across Multiple Countries: A Meta-Analysis on ARIA Rates and Safety Profiles in Clinical Practice
  Tuesday, November 17, 2:05–2:20 PM EST
• Lecanemab Treatment and α-Synuclein Co-Pathology in the Clarity AD CSF Substudy
  Thursday, November 19, 1:35–1:50 PM EST
• US Real-World Patterns of Amyloid Testing and Anti-Amyloid Therapy Initiation in Alzheimer’s Disease (AD) and Mild Cognitive Impairment (MCI)
  Poster Session
• Baseline Radiologic Predictors of ARIA-E and ARIA-H: A Quantitative AI-Supported MRI Analysis of a US Real-World Cohort
  Poster Session
• A Prospective, Observational, Fully Decentralized Global Study to Identify Individuals for Alzheimer’s Disease Clinical Trials Using Digital Cognitive Assessments and Blood-Based Biomarkers
  Poster Session

About diranersen (BIIB080)
Diranersen (BIIB080) is an investigational antisense oligonucleotide (ASO) therapy designed to target microtubule-associated protein tau (MAPT) mRNA to reduce the production of tau protein. Abnormal accumulation of tau in the brain is a hallmark of Alzheimer’s disease associated with neurodegeneration and cognitive decline.

Diranersen is being investigated as a potential treatment for early Alzheimer’s disease. In 2025, the U.S. Food and Drug Administration (FDA) granted Fast Track designation to diranersen for the treatment of Alzheimer’s disease. In December 2019, Biogen exercised a license option with Ionis Pharmaceuticals and obtained a worldwide, exclusive, royalty-bearing license to develop and commercialize diranersen. Diranersen was discovered by Ionis.

About the CELIA Study
CELIA is a global Phase 2 randomized, double-blind, placebo-controlled, dose-ranging study evaluating the efficacy, safety and tolerability of diranersen in individuals with early Alzheimer’s disease. The study enrolled 416 participants with mild cognitive impairment due to Alzheimer’s disease or mild Alzheimer’s disease dementia. All participants enrolled in CELIA had not previously received anti-amyloid therapy.

The study evaluated three doses of diranersen administered intrathecally over an 18-month placebo-controlled treatment period: 60 mg every six months, 115 mg every six months, and 115 mg every three months.

The primary endpoint of CELIA was assessment of dose response for change from baseline on the Clinical Dementia Rating–Sum of Boxes (CDR-SB) at Week 76. Secondary and exploratory endpoints included additional clinical, biomarker and imaging measures, including cerebrospinal fluid tau biomarkers and tau positron emission tomography (PET). Additional information on the CELIA study design is available in the ClinicalTrials.gov listing for the CELIA study.

An ongoing long-term extension (LTE) study is continuing to evaluate the long-term safety, tolerability and durability of diranersen in early Alzheimer’s disease.

About lecanemab (brand name: LEQEMBI^®)
Lecanemab is the result of a strategic research alliance between Eisai and BioArctic. It is a humanized immunoglobulin gamma (IgG1) monoclonal antibody directed against aggregated soluble (protofibril) and insoluble forms of amyloid-beta (Aβ).

Lecanemab has been approved in 53 countries and regions including Japan, the United States, China, Europe, South Korea, Taiwan, and Saudi Arabia, and is under regulatory review in 6 countries. Following the initial phase with treatment every two weeks for 18 months, intravenous (IV) maintenance dosing with treatment every four weeks was approved in 9 countries including the U.S., China, the UK, and others, and applications have been filed in 11 countries and regions. The U.S. FDA approved Eisai’s Biologics License Application (BLA) for subcutaneous maintenance dosing (360 mg) with LEQEMBI IQLIK in August 2025. For subcutaneous initiation treatment (500 mg), approval was obtained in the U.S. in July 2026 and China in September 2026, and applications are under review in 2 countries.

Eisai and Biogen have been collaborating on the joint development and commercialization of Alzheimer’s disease treatments since 2014. Eisai serves as the lead of LEQEMBI development and regulatory submissions globally, with both companies co-commercializing and co-promoting the product and Eisai having final decision-making authority.

About Biogen
Founded in 1978, Biogen is a leading biotechnology company that pioneers innovative science to deliver new medicines to transform patients’ lives and to create value for shareholders and our communities. We apply deep understanding of human biology and leverage different modalities to advance first-in-class treatments or therapies that deliver superior outcomes. Our approach is to take bold risks, balanced with return on investment to deliver long-term growth.

We routinely post information that may be important to investors on our website at www.biogen.com. Follow us on social media – Facebook, LinkedIn, X, YouTube.

Biogen Safe Harbor 
This news release contains forward-looking statements, including, among others, relating to: the potential benefits, efficacy and safety of diranersen (BIIB080) and lecanemab (LEQEMBI); the potential to advance care and improve outcomes for, and address unmet needs of, patients with Alzheimer’s disease; potential regulatory discussions, submissions, decisions and approvals and the timing thereof; the anticipated benefits, risks and potential of our collaboration arrangements; the potential of our commercial business and pipeline programs, including Biogen’s research programs for Alzheimer’s disease; and risks and uncertainties associated with drug development and commercialization. These forward-looking statements may be accompanied by such words as “aim,” “anticipate,” “assume,” “believe,” “contemplate,” “continue,” “could,” “estimate,” “expect,” “forecast,” “goal,” “guidance,” “hope,” “intend,” “may,” “objective,” “outlook,” “plan,” “possible,” “potential,” “predict,” “project,” “prospect,” “should,” “target,” “will,” “would” or the negative of these words or other words and terms of similar meaning. Drug development and commercialization involve a high degree of risk, and only a small number of research and development programs result in commercialization of a product. Results in early-stage clinical trials may not be indicative of full results or results from later stage or larger scale clinical trials and do not ensure regulatory approval. You should not place undue reliance on these statements. Given their forward-looking nature, these statements involve substantial risks and uncertainties that may be based on inaccurate assumptions and could cause actual results to differ materially from those reflected in such statements.

These forward-looking statements are based on management’s current beliefs and assumptions and on information currently available to management. Given their nature, we cannot assure that any outcome expressed in these forward-looking statements will be realized in whole or in part. We caution that these statements are subject to risks and uncertainties, many of which are outside of our control and could cause future events or results to differ materially from those stated or implied in this document, including, among others, uncertainty of our long-term success in developing, licensing, or acquiring other product candidates or additional indications for existing products; expectations, plans, prospects and timing of actions relating to product approvals, approvals of additional indications for our existing products, sales, pricing, growth, reimbursement and launch of our marketed and pipeline products; the potential impact of increased product competition in the biopharmaceutical and healthcare industry, as well as any other markets in which we compete, including increased competition from new originator therapies, generics, prodrugs and biosimilars of existing products and products approved under abbreviated regulatory pathways; our ability to effectively implement our corporate strategy; difficulties in obtaining and maintaining adequate coverage, pricing, and reimbursement for our products; the drivers for growing our business, including our dependence on collaborators and other third parties for the development, regulatory approval, and commercialization of products and other aspects of our business, which are outside of our full control; risks related to commercialization of biosimilars, which is subject to such risks related to our reliance on third-parties, intellectual property, competitive and market challenges and regulatory compliance; the risk that positive results in a clinical trial may not be replicated in subsequent or confirmatory trials or success in early stage clinical trials may not be predictive of results in later stage or large scale clinical trials or trials in other potential indications; risks associated with clinical trials, including our ability to adequately manage clinical activities, unexpected concerns that may arise from additional data or analysis obtained during clinical trials, regulatory authorities may require additional information or further studies, or may fail to approve or may delay approval of our drug candidates; and the occurrence of adverse safety events, restrictions on use with our products, or product liability claims; and any other risks and uncertainties that are described in reports we have filed with the U.S. Securities and Exchange Commission, which are available on the SEC’s website at www.sec.gov.

These statements speak only as of the date of this press release and are based on information and estimates available to us at this time. Should known or unknown risks or uncertainties materialize or should underlying assumptions prove inaccurate, actual results could vary materially from past results and those anticipated, estimated or projected. Investors are cautioned not to put undue reliance on forward-looking statements. A further list and description of risks, uncertainties and other matters can be found in our Annual Report on Form 10-K for the fiscal year ended December 31, 2025 and in our subsequent reports on Form 10-Q. Except as required by law, we do not undertake any obligation to publicly update any forward-looking statements whether as a result of any new information, future events, changed circumstances or otherwise.

Digital Media Disclosure
From time to time we have used, or expect in the future to use, our investor relations website (investors.biogen.com), the Biogen LinkedIn account (linkedin.com/company/biogen-) and the Biogen X account (https://x.com/biogen) as a means of disclosing information to the public in a broad, non-exclusionary manner, including for purposes of the SEC’s Regulation Fair Disclosure (Reg FD). Accordingly, investors should monitor our investor relations website and this social media channel in addition to our press releases, SEC filings, public conference calls and webcasts, as the information posted on them could be material to investors.

MEDIA CONTACT: Madeleine Shin + 1 781 464 3260 public.affairs@biogen.com

INVESTOR CONTACT: Tim Power +1 781 464 2442 IR@biogen.com

DEMIRE Deutsche Mittelstand Real Estate AG: Preliminary announcement of the publication of quarterly reports and quarterly/interim statements

29. Oct 2026 / 11:58 CET/CEST, transmitted by GlobeNewswire.

The issuer is solely responsible for the content of this announcement.

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DEMIRE Deutsche Mittelstand Real Estate AG hereby announces that the following financial reports shall be disclosed:

Report type: Quarterly report and quarterly/interim statement

Date of disclosure: 05.11.2026

• Language: German
  Address: https://www.demire.ag/publikationen/
• Language: English
  Address: https://www.demire.ag/en/publications/

End of message

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GlobeNewsWire Distribution Services include regulatory announcements, financial/corporate news and press releases.

Archive at www.globenewswire.com

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Financial Overview – Third Quarter

• Revenues of $251 Million, Up 53% From a Year Ago and Up 61% From the Second Quarter
• GAAP Pre-Tax Income of $35 Million, Adjusted Pre-Tax Income of $56 Million
• GAAP Diluted EPS of $0.21, Adjusted EPS of $0.39

Financial Overview – Nine Months

• Revenues of $557 Million, Up 5% From a Year Ago
• GAAP Pre-Tax Income of $31 Million, Adjusted Pre-Tax Income of $80 Million
• GAAP Diluted EPS of $0.29, Adjusted EPS of $0.63

Talent Investment

• Year-To-Date Added Fourteen Partners and Thirteen Managing Directors
• Closed Acquisition of Gleacher Shacklock on September 1

Capital Management

• Strong Balance Sheet with $150 Million of Cash and No Debt
• Year-To-Date Retired More Than Three Million Shares and Share Equivalents through Net Settlement and Open Market Repurchases
• Year-To-Date Returned $88 Million in Aggregate to Equity Holders
• Declared Quarterly Dividend of $0.07 Per Share

“Our third quarter performance demonstrates the strength and breadth of our franchise, and we are carrying strong momentum into the fourth quarter and 2027. The acquisition of Gleacher Shacklock deepens our presence in the UK and across Europe, enhancing our ability to advise clients on their most complex transactions. We will continue to execute on our strategic priorities to drive growth and scale our business to deliver value for our shareholders,” stated Andrew Bednar, Chief Executive Officer and Chairman.

NEW YORK, Oct. 29, 2026 (GLOBE NEWSWIRE) — Perella Weinberg Partners (the “Firm,” “Company,” “Perella Weinberg”) (NASDAQ:PWP) today reported financial results for the third quarter ended September 30, 2026.

Revenues

For the third quarter of 2026, revenues were $251.4 million, an increase of 53% from $164.6 million reported in the third quarter of 2025, driven by a higher number of fee-paying clients and a greater share of fee events exceeding $5 million. For the nine months ended September 30, 2026, revenues were $556.8 million, an increase of 5% from $531.7 million for the nine months ended September 30, 2025. The increase was driven by higher M&A revenue, reflecting a greater number of fee events, partially offset by lower financing and capital solutions revenue.

Expenses

		Three Months Ended September 30,																Nine Months Ended September 30,
			2026								2025								2026								2025
		GAAP				Adjusted				GAAP				Adjusted				GAAP				Adjusted				GAAP				Adjusted
Operating expenses		(Dollars in Millions)																(Dollars in Millions)
Total compensation and benefits		$	175.0			$	157.2			$	116.3			$	110.3			$	413.0			$	373.1			$	373.9			$	356.3
% of Revenues			70	%			63	%			71	%			67	%			74	%			67	%			70	%			67	%
Non-compensation expenses		$	41.4			$	37.0			$	39.4			$	36.8			$	116.7			$	105.7			$	128.4			$	122.4
% of Revenues			16	%			15	%			24	%			22	%			21	%			19	%			24	%			23	%

Three Months Ended

GAAP total compensation and benefits were $175.0 million for the third quarter of 2026, compared to $116.3 million for the third quarter of 2025. Adjusted total compensation and benefits were $157.2 million for the third quarter of 2026, compared to $110.3 million for the same period a year ago. The increase in total compensation and benefits was due to higher revenues, partially offset by the impact of a lower adjusted compensation margin versus the third quarter of 2025, and, on a GAAP basis only, included acquisition-related compensation and previously disclosed business realignment costs.

GAAP non-compensation expenses were $41.4 million for the third quarter of 2026, compared to $39.4 million for the third quarter of 2025. Adjusted non-compensation expenses were $37.0 million for the third quarter of 2026, compared to $36.8 million for the same period a year ago. The increase in GAAP non-compensation expenses was primarily driven by increased amortization expenses related to acquisitions as well as higher technology expenses.

Nine Months Ended

GAAP total compensation and benefits were $413.0 million for the nine months ended September 30, 2026, compared to $373.9 million for the prior year period. Adjusted total compensation and benefits were $373.1 million for the nine months ended September 30, 2026, compared to $356.3 million for the same period a year ago. The increase in total compensation and benefits was due to higher revenues and, on a GAAP basis only, higher acquisition-related compensation and previously disclosed business realignment costs. The adjusted compensation margin was 67% for the nine months ended September 30, 2026, consistent with the prior year period.

GAAP non-compensation expenses were $116.7 million for the nine months ended September 30, 2026, compared to $128.4 million for the prior year period. Adjusted non-compensation expenses were $105.7 million for the nine months ended September 30, 2026, compared to $122.4 million for the same period a year ago. The decrease in non-compensation expenses was largely driven by a decrease in professional fees, partially offset by a modest increase in technology spend and, on a GAAP basis only, increased transaction and amortization expenses related to acquisitions.

Provision for Income Taxes

As of September 30, 2026, Perella Weinberg Partners owned 81.5% of the operating partnership (“PWP OpCo”) and is subject to U.S. federal and state corporate income tax on its allocable share of earnings. Income earned by PWP OpCo is subject to certain state, local, and foreign income taxes. The GAAP income tax expense for the nine months ended September 30, 2026 was $1.7 million, which included $10.9 million of tax benefit from restricted stock units (“RSUs”) that vested at a share price higher than the grant price.

For purposes of calculating adjusted if-converted net income, we present our results as if all partnership units had been converted to shares of Class A common stock and as if all of our adjusted results were subject to U.S. corporate income tax. For the nine months ended September 30, 2026, adjusted if-converted net income included $11.5 million of tax benefit from the vesting of RSUs at a share price higher than the grant price.

Balance Sheet and Capital Management

As of September 30, 2026, we had $150 million of cash with no outstanding indebtedness and an undrawn revolving credit facility.

During the nine months ended September 30, 2026, we returned $88.3 million in aggregate to our equity holders through: (i) the net settlement of 3,018,699 share equivalents at an average price per share of $19.85, (ii) the repurchase of 127,328 shares at an average price per share of $15.73 in open market transactions pursuant to PWP’s Class A common stock repurchase program, (iii) the payment of aggregate dividends of $22.7 million to Class A common stockholders and (iv) the payment of $3.6 million in distributions to limited partners.

At September 30, 2026, there were 79.5 million shares of Class A common stock and 18.0 million partnership units outstanding.

During the nine months ended September 30, 2026, Perella Weinberg made $7.2 million of cash payments related to the business realignment. Currently, we are estimating future cash payments of approximately $7.0 million related to the business realignment, substantially all of which is expected to be paid by or soon after December 31, 2026.

The Board of Directors has declared a quarterly dividend of $0.07 per share of Class A common stock. The dividend will be paid on December 8, 2026 to Class A common stockholders of record on November 24, 2026.

Conference Call and Webcast

Management will host a webcast and conference call on Thursday, October 29, 2026 at 9:00 am ET to discuss Perella Weinberg’s financial results for the third quarter ended September 30, 2026.

A webcast of the conference call will be made available in the Investors section of Perella Weinberg’s website at https://investors.pwpartners.com/.

The conference call can also be accessed by the following dial-in information:

• Domestic: (800) 245-3047
• International: (203) 518-9765
• Conference ID: PWPQ326

Replay

A replay of the call will also be available two hours after the live call through November 5, 2026. To access the replay, dial (800) 839-7076 (Domestic) or (402) 220-6063 (International). The replay can also be accessed on the Investors section of the Company’s website at https://investors.pwpartners.com/.

For those who listen to the rebroadcast of the call, we remind you that the remarks made are as of October 29, 2026, and have not been updated subsequent to the initial earnings call.

About Perella Weinberg

Perella Weinberg is a leading global independent advisory firm, providing strategic and financial advice to a broad client base, including corporations, financial sponsors, governments, and sovereign wealth funds. The Firm offers a wide range of advisory services to clients in some of the most active industry sectors and global markets. With approximately 700 employees, Perella Weinberg currently maintains offices in New York, London, Houston, Los Angeles, San Francisco, Paris, Chicago, Munich, Palm Beach, Calgary, and Greenwich. The financial information of Perella Weinberg herein refers to the business operations of PWP Holdings LP and Subsidiaries.

Contacts

For Perella Weinberg Investor Relations: investors@pwpartners.com
For Perella Weinberg Media: media@pwpartners.com

Non-GAAP Financial Measures

In addition to financial measures presented in accordance with GAAP, we monitor certain non-GAAP financial measures to manage our business, make planning decisions, evaluate our performance and allocate resources. We believe that these non-GAAP financial measures are key financial indicators of our business performance over the long term and provide useful information regarding whether cash provided by operating activities is sufficient to maintain and grow our business. We believe that the methodology for determining these non-GAAP financial measures can provide useful supplemental information to help investors better understand the economics of our platform.

These non-GAAP financial measures have limitations as analytical tools and should not be considered in isolation from, or as a substitute for, the analysis of other GAAP financial measures. These non-GAAP financial measures are not universally consistent calculations, limiting their usefulness as comparative measures. Other companies may calculate similarly titled financial measures differently. Additionally, these non-GAAP financial measures are not measurements of financial performance or liquidity under GAAP. In order to facilitate a clear understanding of our consolidated historical operating results, you should examine our non-GAAP financial measures in conjunction with our historical consolidated financial statements and notes thereto included elsewhere in this press release.

Management compensates for the inherent limitations associated with using these non-GAAP financial measures through disclosure of such limitations, presentation of our financial statements in accordance with GAAP and reconciliation of such non-GAAP financial measures to the most directly comparable GAAP financial measures. See “Non-GAAP Financial Measures” and the tables at the end of this release for an explanation of the adjustments and reconciliations to the comparable GAAP numbers.

Cautionary Statement Regarding Forward-Looking Statements

Certain statements made in this press release, and oral statements made from time to time by representatives of PWP are “forward-looking statements” within the meaning of the federal securities laws, including the Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Statements regarding expectations for the business are “forward-looking statements.” In addition, words such as “estimates,” “projected,” “expects,” “estimated,” “anticipates,” “forecasts,” “plans,” “intends,” “believes,” “seeks,” “may,” “will,” “would,” “future,” “propose,” “target,” “goal,” “objective,” “outlook” and variations of these words or similar expressions (or the negative versions of such words or expressions) are intended to identify forward-looking statements. These forward-looking statements are not guarantees of future performance, conditions or results, and involve a number of known and unknown risks, uncertainties, assumptions and other important factors, many of which are outside the control of the parties, that could cause actual results or outcomes to differ materially from those discussed in the forward-looking statements.
Important factors, among others, that may affect actual results or outcomes include (but are not limited to): global economic, business and market conditions; the Company’s dependence on and ability to retain employees; the Company’s ability to successfully identify, recruit and develop talent; conditions impacting the corporate advisory industry; the Firm’s dependence on its fee-paying clients and fluctuating revenues from its non-exclusive, engagement-by-engagement business model; the high volatility of the Company’s revenues as a result of its reliance on advisory fees that are largely contingent on the completion of events which may be out of its control; the Company’s ability to appropriately manage conflicts of interest and tax and other regulatory factors relevant to the Company’s business, including actual, potential or perceived conflicts of interest and other factors that may damage its business and reputation; the Company’s successful formulation and execution of its business and growth strategies; substantial litigation risks in the financial services industry; cybersecurity and other operational risks; assumptions relating to the Company’s operations, financial results, financial condition, business prospects, growth strategy and liquidity; extensive regulation of the corporate advisory industry and U.S. and foreign regulatory developments relating to, among other things, financial institutions and markets, government oversight, fiscal and tax policy and laws (including the treatment of carried interest); and other risks and uncertainties described under “Part I—Item 1A. Risk Factors” in our Annual Report on Form 10-K.

The forward-looking statements in this press release and oral statements made from time to time by representatives of PWP are based on current expectations and beliefs concerning future developments and their potential effects on the Company. There can be no assurance that future developments affecting the Company will be those that the Company has anticipated. These risks and uncertainties include, but are not limited to, those factors described in the section entitled “Risk Factors” in our Annual Report on Form 10-K filed with the U.S. Securities and Exchange Commission (the “SEC”) on February 27, 2026 and the other documents filed by the Firm from time to time with the SEC. The Company undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as may be required under applicable securities laws.

Consolidated Statements of Operations (Unaudited) (Dollars in Thousands, Except Per Share Amounts)
		Three Months Ended September 30,						Nine Months Ended September 30,
		2026			2025			2026				2025
Revenues		$	251,373		$	164,645		$	556,815		$	531,743
Expenses
Compensation and benefits			145,976			88,748			316,867			292,027
Equity-based compensation			29,049			27,594			96,112			81,873
Total compensation and benefits			175,025			116,342			412,979			373,900
Professional fees			9,417			9,213			21,918			35,308
Technology and infrastructure			11,114			9,588			30,928			28,114
Rent and occupancy			6,328			5,974			18,133			18,896
Travel and related expenses			4,365			5,418			15,871			16,391
General, administrative and other expenses			3,551			4,219			11,601			14,574
Depreciation and amortization			6,628			5,024			18,286			15,077
Total expenses			216,428			155,778			529,716			502,260
Operating income (loss)			34,945			8,867			27,099			29,483
Non-operating income (expenses)
Other income (expense)			230			2,721			3,518			252
Total non-operating income (expenses)			230			2,721			3,518			252
Income (loss) before income taxes			35,175			11,588			30,617			29,735
Income tax expense (benefit)			11,885			3,023			1,741			(4,471	)
Net income (loss)			23,290			8,565			28,876			34,206
Less: Net income (loss) attributable to non-controlling interests			5,730			2,561			4,525			8,125
Net income (loss) attributable to Perella Weinberg Partners		$	17,560		$	6,004		$	24,351		$	26,081
Net income (loss) per share attributable to Class A common shareholders
Basic		$	0.22		$	0.09		$	0.33		$	0.41
Diluted		$	0.21		$	0.08		$	0.29		$	0.37
Weighted-average shares of Class A common stock outstanding
Basic			78,841,501			64,071,958			74,499,165			63,100,339
Diluted			103,291,251			100,233,456			102,379,024			74,959,485

GAAP Reconciliation of Adjusted Results (Unaudited) (Dollars in Thousands, Except Per Share Amounts)
		Three Months Ended September 30,								Nine Months Ended September 30,
			2026				2025				2026				2025
Total compensation and benefits—GAAP		$	175,025			$	116,342			$	412,979			$	373,900
Public company transaction related incentives(1)			(3,228	)			(6,029	)			(10,285	)			(17,632	)
Acquisition related incentives(2)			(4,193	)			—				(5,510	)			—
Business realignment costs(3)			(10,453	)			—				(24,130	)			—
Adjusted total compensation and benefits		$	157,151			$	110,313			$	373,054			$	356,268
Non-compensation expense—GAAP		$	41,403			$	39,436			$	116,737			$	128,360
Business realignment costs(3)			(107	)			—				(182	)			—
Amortization of acquired intangible assets(4)			(3,088	)			(1,645	)			(7,594	)			(4,935	)
Business combination transaction expenses(5)			(1,224	)			(980	)			(3,227	)			(980	)
Adjusted non-compensation expense(6)		$	36,984			$	36,811			$	105,734			$	122,445
Operating income (loss)—GAAP		$	34,945			$	8,867			$	27,099			$	29,483
Public company transaction related incentives(1)			3,228				6,029				10,285				17,632
Acquisition related incentives(2)			4,193				—				5,510				—
Business realignment costs(3)			10,560				—				24,312				—
Amortization of acquired intangible assets(4)			3,088				1,645				7,594				4,935
Business combination transaction expenses(5)			1,224				980				3,227				980
Adjusted operating income		$	57,238			$	17,521			$	78,027			$	53,030
Income (loss) before income taxes—GAAP		$	35,175			$	11,588			$	30,617			$	29,735
Public company transaction related incentives(1)			3,228				6,029				10,285				17,632
Acquisition related incentives(2)			4,193				—				5,510				—
Business realignment costs(3)			10,560				—				24,312				—
Amortization of acquired intangible assets(4)			3,088				1,645				7,594				4,935
Business combination transaction expenses(5)			1,224				980				3,227				980
Adjustments to non-operating income (expenses)(7)			(974	)			17				(1,865	)			49
Adjusted income before income taxes		$	56,494			$	20,259			$	79,680			$	53,331
Income tax expense (benefit)—GAAP		$	11,885			$	3,023			$	1,741			$	(4,471	)
Tax impact of non-GAAP adjustments(8)			2,818				2,731				12,034				7,412
Adjusted income tax expense		$	14,703			$	5,754			$	13,775			$	2,941
Net income (loss)—GAAP		$	23,290			$	8,565			$	28,876			$	34,206
Public company transaction related incentives(1)			3,228				6,029				10,285				17,632
Acquisition related incentives(2)			4,193				—				5,510				—
Business realignment costs(3)			10,560				—				24,312				—
Amortization of acquired intangible assets(4)			3,088				1,645				7,594				4,935
Business combination transaction expenses(5)			1,224				980				3,227				980
Adjustments to non-operating income (expenses)(7)			(974	)			17				(1,865	)			49
Tax impact of non-GAAP adjustments(8)			(2,818	)			(2,731	)			(12,034	)			(7,412	)
Adjusted net income		$	41,791			$	14,505			$	65,905			$	50,390

GAAP Reconciliation of Adjusted Results (Unaudited) (Dollars in Thousands, Except Per Share Amounts)
		Three Months Ended September 30,								Nine Months Ended September 30,
			2026				2025				2026				2025
Adjusted net income		$	41,791			$	14,505			$	65,905			$	50,390
Less: Adjusted income tax expense			(14,703	)			(5,754	)			(13,775	)			(2,941	)
Add: If-converted income tax expense(9)			16,646				6,854				14,718				1,906
Adjusted if-converted net income		$	39,848			$	13,405			$	64,962			$	51,425
Weighted-average diluted shares of Class A common stock outstanding—GAAP			103,291,251				100,233,456				102,379,024				74,959,485
Weighted average number of incremental shares from if-converted PWP OpCo units(10)			—				—				—				25,691,746
Weighted-average adjusted diluted shares of Class A common stock outstanding			103,291,251				100,233,456				102,379,024				100,651,231
Adjusted net income per Class A share—diluted, if-converted		$	0.39			$	0.13			$	0.63			$	0.51
Key metrics:(11)
GAAP operating income (loss) margin			13.9	%			5.4	%			4.9	%			5.5	%
Adjusted operating income margin			22.8	%			10.6	%			14.0	%			10.0	%
GAAP compensation margin			70	%			71	%			74	%			70	%
Adjusted compensation margin			63	%			67	%			67	%			67	%
GAAP effective tax rate			34	%			26	%			6	%		(15		)%
Adjusted if-converted effective tax rate			29	%			34	%			18	%			4	%

Notes to GAAP Reconciliation of Adjusted Results:

(1)	Public company transaction related incentives includes equity-based compensation for transaction-related RSUs and performance restricted stock units (“PSUs”), which are directly related to milestone events that were part of a business combination that closed on June 24, 2021, as well as employment taxes for these RSUs and PSUs. These expenses were outside of PWP’s normal and recurring bonus and compensation processes and will be fully expensed by the end of 2026.
(2)	Acquisition related incentives includes compensation arrangements negotiated with certain employees in conjunction with the acquisitions of Devon Park Advisors (“Devon Park”) and Gleacher Shacklock LLP (“Gleacher Shacklock”), including guaranteed compensation arrangements and amounts contingent upon certain client engagements generating revenue following the Gleacher Shacklock acquisition. These arrangements were negotiated as part of the respective acquisitions and such expenses are outside of PWP’s normal and recurring bonus and compensation processes.
(3)	During the second quarter of 2026, we began a review of the business, which resulted in headcount reductions in order to focus resources on higher-performing areas of the business. Costs include separation and transition benefits, the accelerated amortization of equity-based awards, and certain professional fees. Currently, we are estimating approximately $28 million of total business realignment costs through the end of 2026.
(4)	The adjustment reflects the amortization of intangible assets associated with the Tudor, Pickering, Holt & Co., LLC (“TPH”), Devon Park, and Gleacher Shacklock business combinations. This adjustment was previously referred to as “TPH business combination related expenses” in prior releases.
(5)	Business combination transaction costs associated with the Devon Park and Gleacher Shacklock acquisitions as well as legal and advisory costs related to the evaluation and negotiation of a potential business combination that did not proceed.
(6)	See reconciliation on the following page for the components of the consolidated statements of operations included in non-compensation expense—GAAP as well as Adjusted non-compensation expense.
(7)	Includes the amortization of debt discounts and issuance costs for all periods presented. For the three and nine months ended September 30, 2026, it includes the fair value adjustments to the liability-classified contingent consideration recognized in the Devon Park acquisition.
(8)	The adjusted income tax expense represents the Company’s calculated tax expense on adjusted non-GAAP results. It excludes the impact on income taxes of certain transaction-related items and other items not reflected in our adjusted non-GAAP results. It does not represent the cash that the Company expects to pay for taxes in the current periods.
(9)	The if-converted income tax expense represents the Company’s calculated tax expense on adjusted non-GAAP results assuming the exchange of all PWP OpCo units for PWP Class A common stock, resulting in all of the Company’s results for the period being subject to corporate-level tax.
(10)	Represents the dilutive impact assuming the conversion of all PWP OpCo units to shares of Class A common stock.
(11)	Reconciliations of key metrics from GAAP to Adjusted results are a derivative of the reconciliation of their components.

GAAP Reconciliation of Adjusted Results (Unaudited) (Dollars in Thousands)
		Three Months Ended September 30, 2026
		GAAP			Adjustments				Adjusted
Professional fees		$	9,417		$	(1,331	)	(1)	$	8,086
Technology and infrastructure			11,114			—				11,114
Rent and occupancy			6,328			—				6,328
Travel and related expenses			4,365			—				4,365
General, administrative and other expenses			3,551			—				3,551
Depreciation and amortization			6,628			(3,088	)	(2)		3,540
Non-compensation expense		$	41,403		$	(4,419	)		$	36,984
		Three Months Ended September 30, 2025
		GAAP			Adjustments				Adjusted
Professional fees		$	9,213		$	(980	)	(3)	$	8,233
Technology and infrastructure			9,588			—				9,588
Rent and occupancy			5,974			—				5,974
Travel and related expenses			5,418			—				5,418
General, administrative and other expenses			4,219			—				4,219
Depreciation and amortization			5,024			(1,645	)	(4)		3,379
Non-compensation expense		$	39,436		$	(2,625	)		$	36,811
		Nine Months Ended September 30, 2026
		GAAP			Adjustments				Adjusted
Professional fees		$	21,918		$	(3,409	)	(1)	$	18,509
Technology and infrastructure			30,928			—				30,928
Rent and occupancy			18,133			—				18,133
Travel and related expenses			15,871			—				15,871
General, administrative and other expenses			11,601			—				11,601
Depreciation and amortization			18,286			(7,594	)	(2)		10,692
Non-compensation expense		$	116,737		$	(11,003	)		$	105,734
		Nine Months Ended September 30, 2025
		GAAP			Adjustments				Adjusted
Professional fees		$	35,308		$	(980	)	(3)	$	34,328
Technology and infrastructure			28,114			—				28,114
Rent and occupancy			18,896			—				18,896
Travel and related expenses			16,391			—				16,391
General, administrative and other expenses			14,574			—				14,574
Depreciation and amortization			15,077			(4,935	)	(4)		10,142
Non-compensation expense		$	128,360		$	(5,915	)		$	122,445
(1) Reflects an adjustment to exclude transaction costs associated with the acquisitions of Devon Park and Gleacher Shacklock, certain business realignment costs, as well as legal and advisory costs related to the evaluation and negotiation of a potential business combination that did not proceed.
(2) Reflects an adjustment to exclude the amortization of intangible assets related to the Gleacher Shacklock, Devon Park, and TPH business combinations.
(3) Reflects an adjustment to exclude transaction costs associated with the acquisition of Devon Park.
(4) Reflects an adjustment to exclude the amortization of intangible assets related to the TPH business combination.

_______________

* Throughout this release, adjusted figures represent Non-GAAP information. See “Non-GAAP Financial Measures” and the tables at the end of this release for an explanation of the adjustments and reconciliations to the comparable GAAP numbers. GAAP diluted net income (loss) per share attributable to Class A common shareholders and Adjusted net income (loss) per Class A share—diluted, if-converted will be referred to as “GAAP Diluted EPS” and “Adjusted EPS,” respectively.

Third Quarter 2026 Financial Highlights

• Net sales totaled $930 million, up 3% on a constant currency* basis vs prior year, driven by strong performance in commercial vehicle and industrial
• Net income totaled $97 million; net income margin of 10.4%
• Adjusted EBIT* totaled $152 million; adjusted EBIT margin* of 16.3%
• Net cash provided by operating activities totaled $135 million
• Adjusted free cash flow* totaled $136 million
• Reaffirming 2026 full-year mid-point outlook

Third Quarter 2026 Business Highlights

• Continued growth in industrial above previous expectations
• Secured multiple turbo wins, including several light vehicle programs for both China domestic and export
• Secured several on- and off-highway commercial vehicle applications across all regions
• Secured a production award for industrial E-Cooling compressor in Asia
• E-Powertrain and E-Cooling compressor on track for start of production in 2027
  

PLYMOUTH, Mich. and ROLLE, Switzerland, Oct. 29, 2026 (GLOBE NEWSWIRE) — Garrett Motion Inc. (Nasdaq: GTX) (“Garrett” or the “Company”), a leading automotive and industrial technology provider, today announced its financial results for the three months ended September 30, 2026. Additionally, the Company’s Board of Directors approved a new share repurchase program for calendar year 2027, authorizing the Company to repurchase up to $250 million of common stock, and declared a cash dividend of $0.08 per share of common stock, payable on December 15, 2026, to shareholders of record as of December 1, 2026. The Company also executed a $50 million voluntary early debt repayment on its Term Loan in October.

“Our third quarter results reflect the strength of Garrett’s differentiated portfolio, disciplined execution and ability to grow ahead of the industry. We continued to secure new business in turbo, support growing demand for industrial applications and advance our zero emission technologies, while delivering strong profitability and cash flow. With this continued momentum we reaffirm our 2026 mid-point outlook, offsetting unfavorable foreign exchange, and remain focused on delivering long-term value for our shareholders,” said Olivier Rabiller, President and CEO of Garrett.

$ millions (unless otherwise noted)		Q3 2026		Q3 2025		YTD 2026		YTD 2025
Net sales		930		902		2,891		2,693
Cost of goods sold		724		716		2,277		2,147
Gross profit		206		186		614		546
Gross profit %		22.2%		20.6%		21.2%		20.3%
Selling, general and administrative expenses		58		57		179		175
Income before taxes		119		102		363		289
Net income		97		77		293		226
Net income margin		10.4%		8.5%		10.1%		8.4%
Adjusted EBIT*		152		133		455		388
Adjusted EBIT margin*		16.3%		14.7%		15.7%		14.4%
Adjusted EBITDA*		183		164		549		477
Adjusted EBITDA margin*		19.7%		18.2%		19.0%		17.7%
Net cash provided by operating activities		135		100		378		314
Adjusted free cash flow*		136		107		307		264

^{* See reconciliations to the nearest GAAP measures below.}

Results of Operations

Net sales for the third quarter of 2026 were $930 million, representing an increase of 3% (including an unfavorable impact of $3 million or 0.3% due to foreign currency translation) compared with $902 million in the third quarter of 2025. Gasoline decrease was primarily driven by demand softness in China, partially offset by program ramp-ups in Europe, Japan, Korea and India. Diesel increase was primarily driven by strong demand for light commercial vehicles and pickup trucks in Europe, North and South America and India. Commercial vehicle and industrial increases were primarily driven by strong demand in North America and China for industrial and off-highway applications combined with higher on-highway demand in Japan, Korea and India. Aftermarket increase was primarily driven by higher demand for replacement parts in North America off-highway and industrial and stronger demand for passenger vehicles replacement parts in Europe.

Cost of goods sold for the third quarter of 2026 increased to $724 million from $716 million in the third quarter of 2025, primarily driven by $39 million related to product mix, $18 million of commodity, transportation and energy inflation, $6 million of higher RD&E costs and $5 million of foreign currency impact. This increase was partially offset by $24 million of higher productivity net of labor inflation and repositioning costs, $19 million of lower import tariffs and $17 million from lower sales volumes.

Gross profit totaled $206 million for the third quarter of 2026 as compared to $186 million in the third quarter of 2025, with a gross profit percentage for the third quarter of 2026 of 22.2% as compared to 20.6% in the third quarter of 2025. This increase in gross profit was driven by $21 million of favorable product mix, $20 million of higher productivity net of labor inflation and repositioning costs, $18 million of price net of inflation pass-through and $1 million of import tariffs. These increases were partially offset by $18 million of commodity, transportation and energy inflation, $8 million from lower sales volumes, $8 million of foreign currency impact and $6 million of higher RD&E costs.

Selling, general and administrative (“SG&A”) expenses for the third quarter of 2026 increased to $58 million from $57 million in the third quarter of 2025. This increase was driven by $3 million of higher personnel costs, partially offset by $2 million of lower professional services and patent costs.

Other expense in the third quarter of 2026 was consistent with the third quarter of 2025.

Interest expense in the third quarter of 2026 was $27 million as compared to $29 million in the third quarter of 2025. This decrease was primarily due to lower interest expense due to a different notional amount of debt outstanding during the period.

Non-operating expense (income) for the third quarter of 2026 was expense of $1 million as compared to income of $3 million in the third quarter of 2025, with the change in non-operating expense driven by the finalization of a tax indemnification obligation.

Tax expense for the third quarter of 2026 was $22 million as compared to $25 million in the third quarter of 2025, primarily because of a decrease in U.S. taxes on international operations during 2026, the global mix of earnings from year-to-year, a one-time benefit related to the revaluation of deferred tax assets in China during 2025, and deductions related to employee share-based compensation during 2026.

Net income for the third quarter of 2026 was $97 million as compared to $77 million in the third quarter of 2025 primarily driven by $20 million of increased gross profit, $3 million of lower tax expense, and $2 million of lower interest expense, partially offset by $4 million of higher non-operating expense (income) and $1 million of higher SG&A expense.

Net cash provided by operating activities totaled $135 million in the third quarter of 2026 as compared to $100 million in the third quarter of 2025, representing an increase of $35 million. The increase was primarily driven by $28 million of higher net income net of non-cash charges and $15 million of favorable impacts from changes in other assets and liabilities, partially offset by $8 million from unfavorable working capital changes.

Non-GAAP Financial Measures

Adjusted EBIT increased to $152 million in the third quarter of 2026 as compared to $133 million in the third quarter of 2025. The increase of $19 million was driven by $21 million of favorable product mix impact, $19 million pricing net of inflation pass-through and $18 million higher productivity, SG&A net. This increase was partially offset by $18 million commodity, transportation and energy inflation, $8 million of lower sales volume, $7 million of unfavorable foreign currency impact and $6 million higher RD&E costs.

Adjusted free cash flow was $136 million in the third quarter of 2026 as compared to $107 million in the third quarter of 2025. The increase was primarily driven by $19 million higher Adjusted EBIT, $8 million lower cash taxes, $5 million lower cash interest and $3 million favorable impact from working capital (net of factoring), partially offset by $5 million higher capital expenditures.

Liquidity and Capital Resources

As of September 30, 2026, Garrett had $841 million in available liquidity, including $211 million in unrestricted cash and cash equivalents and $630 million of undrawn commitments under its revolving credit facility. As of December 31, 2025, Garrett had $807 million in available liquidity, including $177 million in unrestricted cash and cash equivalents and $630 million of undrawn commitments under its revolving credit facility.

As of September 30, 2026, total principal amount of debt outstanding was $1,384 million, compared to $1,439 million as of December 31, 2025.

During the third quarter of 2026, we repurchased $57 million of our common stock under our authorized share repurchase program and we had remaining repurchase capacity of $78 million as of September 30, 2026.

Full Year 2026 Outlook

Garrett is providing the following outlook for the full year 2026 for certain GAAP and non-GAAP financial measures.

	Full Year 2026 Outlook	Prior Outlook
Net sales (GAAP)	$3.75 billion to $3.85 billion	$3.7 billion to $3.9 billion
Net sales growth at constant currency (Non-GAAP)*	+2% to +6%	+1% to +7%
Net income (GAAP)	$337 million to $352 million	$330 million to $360 million
Adjusted EBIT (Non-GAAP)*	$570 million to $590 million	$560 million to $600 million
Net cash provided by operating activities (GAAP)	$460 million to $500 million	$435 million to $525 million
Adjusted free cash flow (Non-GAAP)*	$410 million to $450 million	$385 million to $475 million

^{* See reconciliations to the nearest GAAP measures below.}

Garrett’s full year 2026 outlook, as of October 29, 2026, includes the following expectations:

• 2026 light vehicle industry production down 2% to 4% from 2025;
• 2026 commercial vehicle industry, including both on- and off-highway, up 1% to 2% from 2025;
• 2026 average light vehicle battery electric vehicle penetration of ~19%;
• 2026 Euro/USD exchange rate of 1.15 USD, USD/CNY of 6.8;
• RD&E investment at ~4.2% of sales;
• Capital expenditures at ~2.4% of sales

Conference Call

Garrett will hold a conference call at 8:30 am EDT / 1:30 pm CET on Thursday, October 29, 2026, to discuss its results. To participate on the conference call, please dial +1-877-883-0383 (US) or +1-412-902-6506 (international) and use the passcode 8665679.

The conference call will also be broadcast over the internet and include a slide presentation. To access the webcast and supporting material, please visit the investor relations section of the Garrett Motion website at http://investors.garrettmotion.com. A replay of the conference call will be available by dialing +1-855-669-9658 (US) or +1-412-317-0088 (international) using the access code 1056488. The webcast will also be archived on Garrett’s website.

2027 Share Repurchase Program

The new share repurchase program will commence on January 1, 2027, following the scheduled expiration of Garrett’s current share repurchase program on December 31, 2026.

The new share repurchase plan authorizes management to repurchase shares at such time and prices as it determines are beneficial to the Company and its shareholders. Any repurchases of shares will be made through open market purchases, block trades, or in privately negotiated transactions in accordance with applicable rules and regulations. Under the share repurchase plan, there is no minimum number of shares that the Company is required to repurchase, and the Company may suspend or terminate the repurchase plan at any time.

Forward-Looking Statements

This communication and related comments by management may include “forward-looking statements” within the meaning of the U.S. federal securities laws. Forward-looking statements are any statements other than statements of historical fact and can be identified by words such as “anticipate,” “intend,” “plan,” “goal,” “seek,” “believe,” “project,” “estimate,” “expect,” “strategy,” “future,” “likely,” “may,” “should,” “will,” and similar expressions. Forward-looking statements represent our current judgment about possible future activities, events, or developments that we intend, expect, project, believe, or anticipate will or may occur in the future. In making these statements, we rely upon assumptions and analysis based on our experience and perception of historical trends, current conditions, and expected future developments, as well as other factors we consider appropriate under the circumstances. We believe these judgments are reasonable, but these statements are not guarantees of any future performance, events, or results, and actual performance, events, or results may differ materially from those envisaged by our forward-looking statements due to a variety of important factors, many of which are described in our most recent Annual Report on Form 10-K and our other filings with the U.S. Securities and Exchange Commission, including risks related to the automotive industry, the competitive landscape and our ability to compete, and macroeconomic and geopolitical conditions, among others. You are cautioned not to place undue reliance on forward-looking statements, which speak only as of the date they are made, and we undertake no obligation to update publicly or otherwise revise any forward-looking statements, whether as a result of new information, future events, or other factors that affect the subject of these statements, except where we are expressly required to do so by law.

Non-GAAP Financial Measures

This communication includes the following non-GAAP financial measures, which are not calculated in accordance with generally accepted accounting principles in the United States (“GAAP”): Constant currency sales growth, Adjusted EBIT, Adjusted EBITDA, Adjusted EBIT margin, Adjusted EBITDA margin and Adjusted free cash flow. We believe these measures are useful to investors and management in understanding our ongoing operations and analysis of ongoing operating trends and are important indicators of operating performance because they exclude the effects of certain non-operating items, therefore making them more closely reflect our operational performance. Our calculation of these non-GAAP measures, including a reconciliation of such measures to the most closely related GAAP measure, are set forth below. These non-GAAP measures may not be comparable to similarly titled measures of other companies due to potential differences between companies in the method of calculation. As a result, the use of these non-GAAP measures has limitations and should not be considered superior to, in isolation from, or as a substitute for, related GAAP measures. For additional information regarding our non-GAAP financial measures, see our most recent Annual Report on Form 10-K and our other filings with the U.S. Securities and Exchange Commission.​

About Garrett Motion Inc.

A differentiated technology leader, Garrett Motion has a 70-year history of innovation in the automotive sector (cars, trucks) and beyond (off-highway equipment, marine, power generators). Its well-recognized expertise in turbocharging has enabled significant reductions in engine size, fuel consumption, and CO2 emissions. Garrett is committed to advancing turbo applications while leveraging its unique technology solutions, such as fuel cell compressors for hydrogen fuel cell vehicles, as well as electric propulsion and thermal management systems for automotive and industrial applications. Garrett has six R&D centers, 13 manufacturing facilities and a team of more than 8,700 employees in more than 20 countries. For more information, please visit www.garrettmotion.com.

Contacts:

INVESTOR RELATIONS

Cyril Grandjean

+1.734.392.5504

investorrelations@garrettmotion.com

CONSOLIDATED INTERIM STATEMENTS OF OPERATIONS 

		For the Three Months Ended September 30,								For the Nine Months Ended September 30,
			2026				2025				2026				2025
		(Dollars in millions, except per share amounts)
Net sales		$	930			$	902			$	2,891			$	2,693
Cost of goods sold			724				716				2,277				2,147
Gross profit			206				186				614				546
Selling, general and administrative expenses			58				57				179				175
Other expense, net			1				1				3				9
Interest expense			27				29				78				83
Non-operating expense (income)			1				(3	)			(9	)			(10	)
Income before taxes			119				102				363				289
Tax expense			22				25				70				63
Net income		$	97			$	77			$	293			$	226
Earnings per common share
Basic		$	0.52			$	0.39			$	1.56			$	1.12
Diluted			0.51				0.38				1.53				1.10
Weighted average common shares outstanding
Basic			185,269,660				198,668,143				187,242,180				202,127,953
Diluted			189,054,351				202,194,334				191,281,264				205,130,616

CONSOLIDATED INTERIM STATEMENTS OF COMPREHENSIVE INCOME

		Three Months Ended September 30,								Nine Months Ended September 30,
			2026				2025				2026				2025
		(Dollars in millions)
Net income		$	97			$	77			$	293			$	226
Foreign exchange translation adjustment			8				3				46				(85	)
Changes in fair value of effective cash flow hedges, net of tax			11				5				24				24
Changes in fair value of net investment hedges, net of tax			8				5				41				(158	)
Total other comprehensive income (loss), net of tax			27				13				111				(219	)
Comprehensive income		$	124			$	90			$	404			$	7

CONSOLIDATED INTERIM BALANCE SHEETS 

		September 30, 2026				December 31, 2025
		(Dollars in millions)
ASSETS
Current assets:
Cash and cash equivalents		$	211			$	177
Restricted cash			2				2
Accounts, notes and other receivables – net			801				703
Inventories – net			386				339
Other current assets			128				98
Total current assets			1,528				1,319
Investments and long-term receivables			8				11
Property, plant and equipment – net			422				462
Goodwill			193				193
Deferred income taxes			200				210
Other assets			181				172
Total assets		$	2,532			$	2,367
LIABILITIES
Current liabilities:
Accounts payable		$	1,107			$	1,061
Current maturities of long-term debt			7				7
Accrued liabilities			356				295
Total current liabilities			1,470				1,363
Long-term debt			1,359				1,411
Deferred income taxes			37				32
Other liabilities			284				363
Total liabilities		$	3,150			$	3,169
COMMITMENTS AND CONTINGENCIES
EQUITY (DEFICIT)
Common Stock, par value $0.001; 1,000,000,000 and 1,000,000,000 shares authorized, 245,583,176 and 242,549,685 issued and 185,360,730 and 190,556,297 outstanding as of September 30, 2026 and December 31, 2025, respectively			—				—
Additional paid–in capital			1,261				1,240
Retained deficit			(1,138	)			(1,384	)
Accumulated other comprehensive (loss) income			(27	)			(138	)
Treasury Stock, at cost; 60,222,446 and 51,993,388 shares as of September 30, 2026 and December 31, 2025, respectively			(714	)			(520	)
Total deficit			(618	)			(802	)
Total liabilities and deficit		$	2,532			$	2,367

CONSOLIDATED INTERIM STATEMENTS OF CASH FLOWS

		Nine Months Ended September 30,
			2026				2025
		(Dollars in millions)
Cash flows from operating activities:
Net income		$	293			$	226
Adjustments to reconcile net income to net cash provided by operating activities
Depreciation			73				70
Stock compensation expense			21				19
Other			5				17
Changes in assets and liabilities:
Accounts, notes and other receivables			(103	)			4
Inventories			(60	)			(17	)
Other assets			18				(14	)
Accounts payable			74				(2	)
Accrued liabilities			64				(10	)
Other liabilities			(7	)			21
Net cash provided by operating activities		$	378			$	314
Cash flows from investing activities:
Expenditures for property, plant and equipment			(61	)			(51	)
Proceeds from cross-currency swap contracts			11				21
Proceeds from sale of equity investment			4				3
Net cash used for investing activities		$	(46	)		$	(27	)
Cash flows from financing activities:
Repurchases of Common Stock			(172	)			(136	)
Payments of long-term debt			(111	)			(87	)
Proceeds from issuance of long-term debt, net of deferred financing costs			56				80
Dividend payments			(46	)			(36	)
Withholdings on shares issued under stock plan			(21	)			(4	)
Other			(2	)			(4	)
Net cash used for financing activities		$	(296	)		$	(187	)
Effect of foreign exchange rate changes on cash, cash equivalents and restricted cash			(2	)			6
Net (decrease) increase in cash, cash equivalents and restricted cash			34				106
Cash, cash equivalents and restricted cash at beginning of the period			179				126
Cash, cash equivalents and restricted cash at end of the period		$	213			$	232
Supplemental cash flow disclosure:
Income taxes paid (net of refunds)			39				50
Interest paid			56				57
Supplemental disclosure of non-cash investing activities:
Change in accrued capital expenditures			(21	)			(14	)

Reconciliation of Net Income to Adjusted EBIT⁽¹⁾ and Adjusted EBITDA⁽¹⁾

		Three Months Ended September 30,								Nine Months Ended September 30,
			2026				2025				2026				2025
		(Dollars in millions)
Net income		$	97			$	77			$	293			$	226
Interest expense, net of interest income (2)			26				28				77				80
Tax expense			22				25				70				63
EBIT			145				130				440				369
Repositioning costs			4				3				17				8
Factoring and notes receivables discount fees			1				—				3				2
Other non-operating expense (income) (3)			2				(1	)			(6	)			(4	)
Debt refinancing and redemption costs (4)			—				1				1				7
Acquisition and divestiture expenses			—				—				—				6
Adjusted EBIT			152				133				455				388
Depreciation			24				25				73				70
Stock compensation expense (5)			7				6				21				19
Adjusted EBITDA		$	183			$	164			$	549			$	477
Net sales		$	930			$	902			$	2,891			$	2,693
Net income margin			10.4	%			8.5	%			10.1	%			8.4	%
Adjusted EBIT margin (6)			16.3	%			14.7	%			15.7	%			14.4	%
Adjusted EBITDA margin (7)			19.7	%			18.2	%			19.0	%			17.7	%

(1)	We evaluate performance on the basis of Adjusted EBIT and Adjusted EBITDA. We define “EBIT” as our net income calculated in accordance with U.S. GAAP, plus the sum of (i) interest expense net of interest income and (ii) tax expense. We define Adjusted EBIT as EBIT, plus the sum of (i) repositioning costs, (ii) foreign exchange (gain) loss on debt net of related hedging gain/loss, (iii) discounting costs on factoring, (iv) gain on sale of equity investment, (v) acquisition and divestiture expenses, (vi) other non-operating income, and (vii) debt refinancing and redemption costs, if any. We define Adjusted EBITDA as EBIT, plus the sum of (i) repositioning costs, (ii) foreign exchange (gain) loss on debt net of related hedging gain/loss, (iii) discounting costs on factoring, (iv) gain on sale of equity investment, (v) acquisition and divestiture expenses, (vi) other non-operating income, and (vii) debt refinancing and redemption costs, if any, plus (viii) depreciation and (ix) stock compensation expense. We believe that Adjusted EBIT and Adjusted EBITDA are important indicators of operating performance and provide useful information for investors because:
	•	Adjusted EBIT and Adjusted EBITDA exclude the effects of income taxes, as well as the effects of financing activities by eliminating the effects of interest;
	•	certain adjustment items, while periodically affecting our results, may vary significantly from period to period and have a disproportionate effect in a given period, which affects the comparability of our results; and
	•	Adjusted EBITDA also excludes the effects of investing activities by eliminating the effects of depreciation.
	In addition, our management may use Adjusted EBIT and Adjusted EBITDA in setting performance incentive targets to align performance measurement with operational performance.
(2)	Reflects interest income of $1 million for each of the three months ended September 30, 2026 and 2025, and $1 million and $3 million for the nine months ended September 30, 2026 and 2025, respectively.
(3)	Reflects the non-service component of net periodic pension income and, for the three and nine months ended September 30, 2026, includes $4 million payable to the Company’s former parent pursuant to an indemnity agreement established in connection with the Company’s spin-off. For the nine months ended September 30, 2026, the amount also includes a $5 million gain related to the resolution of certain environmental liabilities not directly related to the Company’s operations.
(4)	Reflects third-party costs directly attributable to the refinancing of our credit facilities and any amendments thereto.
(5)	Stock compensation expense includes only non-cash expenses.
(6)	Adjusted EBIT margin represents Adjusted EBIT as a percentage of net sales.
(7)	Adjusted EBITDA margin represents Adjusted EBITDA as a percentage of net sales.

Reconciliation of Constant Currency Sales % Change⁽¹⁾

		Three Months Ended September 30,						Nine Months Ended September 30,
		2026			2025			2026			2025
Garrett
Reported sales % change		3	%		9	%		7	%		2	%
Less: Foreign currency translation		0	%		3	%		2	%		1	%
Constant currency sales % change		3	%		6	%		5	%		1	%
Gasoline
Reported sales % change		(5	)%		13	%		3	%		7	%
Less: Foreign currency translation		0	%		3	%		3	%		0	%
Constant currency sales % change		(5	)%		10	%		0	%		7	%
Diesel
Reported sales % change		5	%		12	%		8	%		(2	)%
Less: Foreign currency translation		(1	)%		5	%		3	%		2	%
Constant currency sales % change		6	%		7	%		5	%		(4	)%
Commercial Vehicle / Industrial
Reported sales % change		23	%		6	%		17	%		3	%
Less: Foreign currency translation		0	%		2	%		1	%		1	%
Constant currency sales % change		23	%		4	%		16	%		2	%
Aftermarket
Reported sales % change		5	%		(1	)%		9	%		(7	)%
Less: Foreign currency translation		(1	)%		3	%		2	%		1	%
Constant currency sales % change		6	%		(4	)%		7	%		(8	)%
Other Sales
Reported sales % change		(38	)%		14	%		(11	)%		18	%
Less: Foreign currency translation		(1	)%		4	%		2	%		2	%
Constant currency sales % change		(37	)%		10	%		(13	)%		16	%

(1)

We define constant currency sales growth as the year-over-year change in reported sales relative to the comparable period, excluding the impact on sales from foreign currency translation. We believe this measure is useful to investors and management in understanding our ongoing operations and in analysis of ongoing operating trends.

Reconciliation of Cash Flow from Operations to Adjusted Free Cash Flow⁽¹⁾

		Three Months Ended September 30,								Nine Months Ended September 30,
			2026				2025				2026				2025
		(Dollars in millions)
Net cash provided by operating activities		$	135			$	100			$	378			$	314
Expenditures for property, plant and equipment			(15	)			(10	)			(61	)			(51	)
Net cash provided by operating activities less expenditures for property, plant and equipment			120				90				317				263
Acquisition and divestiture expenses			—				1				—				6
Cash payments for repositioning			3				4				15				10
Proceeds from cross-currency swap contracts			3				6				11				21
Cash payments for debt refinancing costs			—				1				1				7
Factoring and P-notes			10				5				(37	)			(43	)
Adjusted free cash flow (1)		$	136			$	107			$	307			$	264

(1)

Adjusted free cash flow reflects an additional way of viewing liquidity that we believe is useful to investors and management in analyzing the Company’s ability to service and repay its debt. The Company defines adjusted free cash flow as cash flow provided from operating activities less capital expenditures and additionally adjusted for other discretionary items including cash flow impacts for capital structure transformation expenses, acquisition and divestiture expenses, debt refinancing costs, and factoring and guaranteed bank notes activity.

Full Year 2026 Outlook Reconciliation of Reported Net Sales to Net Sales Growth at Constant Currency 

		2026 Full Year
		Low End			High End
Reported net sales (% change)		5	%		7	%
Foreign currency translation		3	%		1	%
Full year 2026 Outlook Net sales growth at constant currency		2	%		6	%

Full Year 2026 Outlook Reconciliation of Net Income to Adjusted EBIT and Adjusted EBITDA

		2026 Full Year
		Low End				High End
		(Dollars in millions)
Net income		$	337			$	352
Interest expense, net of interest income *			100				100
Tax expense			110				115
Other non-operating income			(6	)			(6	)
Factoring and notes receivables discount fees			3				3
Debt refinancing and redemption costs			1				1
Repositioning costs			25				25
Full Year 2026 Outlook Adjusted EBIT		$	570			$	590
Depreciation			98				98
Stock compensation expense			28				28
Full Year 2026 Outlook Adjusted EBITDA		$	696			$	716
* Excludes the effects of marked-to-market fluctuations from our interest rate swap contracts

Full Year 2026 Outlook Reconciliation of Net Cash Provided by Operating Activities to Adjusted Free Cash Flow

		2026 Full Year
		Low End				High End
		(Dollars in millions)
Net cash provided by operating activities		$	460			$	500
Expenditures for property, plant and equipment			(90	)			(90	)
Net cash provided by operating activities less expenditures for property, plant and equipment			370				410
Cash payments for repositioning			25				25
Proceeds from cross-currency swap contracts			14				14
Cash payments for debt refinancing costs			1				1
Full Year 2026 Outlook Adjusted free cash flow		$	410			$	450