Author: Ravi Shankar

NDA submission completed following positive Phase 3 SELVA results; potential U.S. commercial launch in the first half of 2027, if approved

QTORIN™ rapamycin has the potential to become the first FDA-approved therapy and establish a new standard of care for an estimated more than 30,000 pediatric and adult patients living with microcystic lymphatic malformations in the U.S.

WAYNE, Pa., Sept. 28, 2026 (GLOBE NEWSWIRE) — Palvella Therapeutics, Inc. (Palvella or the “Company”) (Nasdaq: PVLA), a clinical-stage biopharmaceutical company focused on developing and commercializing novel therapies for serious, rare skin diseases and vascular anomalies for which there are no U.S. Food and Drug Administration (FDA)-approved therapies, today announced that the Company has received a third year of grant funding from the FDA Office of Orphan Products Development. The funding supports the Phase 3 SELVA trial and ongoing open-label extension study of QTORIN™ 3.9% rapamycin anhydrous gel (QTORIN™ rapamycin) for the treatment of microcystic lymphatic malformations. The award follows FDA review of Palvella’s annual performance progress report, which included results from the Phase 3 SELVA trial.

“We are grateful for the FDA’s continued support of the QTORIN™ rapamycin program, including funding through the Orphan Products Grants Program, Breakthrough Therapy, Fast Track, and Orphan Drug designations, and the opportunity to submit our NDA on a rolling basis,” said Wes Kaupinen, Founder and Chief Executive Officer of Palvella. “Following positive Phase 3 SELVA results and completion of our NDA submission, we are advancing commercial readiness for a potential U.S. launch in the first half of 2027, if approved. We believe QTORIN™ rapamycin has the potential to become the first FDA-approved therapy for microcystic LMs and establish a new standard of care for pediatric and adult patients living with this serious, lifelong disease.”

In February 2026, Palvella announced positive topline results from the Phase 3 SELVA trial, which met its primary endpoint, pre-specified key secondary endpoint, and all four secondary efficacy endpoints, with all six efficacy endpoints achieving statistical significance (all p<0.001). In August 2026, Palvella completed the submission of its New Drug Application (NDA) for QTORIN™ rapamycin for the treatment of microcystic LMs.

Palvella’s Phase 3 SELVA trial was one of only seven new clinical trials selected for funding from 51 applications received by the FDA Orphan Products Grants Program in fiscal year 2024 and the only Phase 3 trial awarded a grant that year. Grant applications are independently reviewed and scored for scientific and technical merit by rare disease and regulatory experts and may involve consultation with the relevant FDA review division. Since its inception, the program has funded clinical trials that have facilitated the approval of more than 85 medical products for rare diseases.

About Palvella Therapeutics

Founded and led by rare disease biotech veterans, Palvella Therapeutics, Inc. (Nasdaq: PVLA) is a clinical-stage biopharmaceutical company focused on developing and commercializing novel therapies to treat patients living with serious, rare skin diseases and vascular anomalies for which there are no FDA-approved therapies. Palvella is developing a broad pipeline of product candidates based on its patented QTORIN™ platform, with an initial focus on serious, rare skin diseases and vascular anomalies, many of which are lifelong in nature. Palvella’s lead product candidate, QTORIN™ 3.9% rapamycin anhydrous gel (QTORIN™ rapamycin), is currently being developed for the treatment of microcystic lymphatic malformations, cutaneous venous malformations, and clinically significant angiokeratomas. Palvella’s second product candidate, QTORIN™ pitavastatin, is currently being developed for the treatment of disseminated superficial actinic porokeratosis. For more information, please visit www.palvellatx.com or follow Palvella on LinkedIn or X (formerly known as Twitter).

QTORIN™ rapamycin and QTORIN™ pitavastatin are for investigational use only and neither has been approved by the FDA or by any other regulatory agency for any indication.

Forward-Looking Statements

This press release contains forward-looking statements (including within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended, and Section 27A of the Securities Act of 1933, as amended (Securities Act)). These statements may discuss goals, intentions, and expectations as to future plans, trends, events, results of operations or financial condition, or otherwise, based on current beliefs of the management of Palvella, as well as assumptions made by, and information currently available to, the management of Palvella. Forward-looking statements generally include statements that are predictive in nature and depend upon or refer to future events or conditions, and include words such as “may,” “will,” “should,” “would,” “expect,” “anticipate,” “plan,” “likely,” “believe,” “estimate,” “project,” “intend,” and other similar expressions or the negative or plural of these words, or other similar expressions that are predictions or indicate future events or prospects, although not all forward-looking statements contain these words. Statements that are not historical facts are forward-looking statements. Forward-looking statements include, but are not limited to, statements regarding the expected timing of the presentation of data from clinical trials, Palvella’s clinical development plans and related anticipated development milestones and anticipated timing of regulatory submissions, Palvella’s plans with respect to the timing of, and anticipated FDA review process for, the NDA for QTORIN™ rapamycin, Palvella’s plans to pursue Breakthrough Therapy Designation, Palvella’s plans to meet with regulatory authorities, Palvella’s expectations regarding the benefits of orphan drug designation and potential benefit of orphan drug exclusivity for QTORIN™ rapamycin for the treatment of microcystic lymphatic malformations, Palvella’s cash, financial resources and expected runway, Palvella’s expectations regarding its programs, including QTORIN™ rapamycin and QTORIN™ pitavastatin, and its research-stage opportunities, including its expected therapeutic potential and market opportunity. Forward-looking statements are based on current beliefs and assumptions that are subject to risks and uncertainties and are not guarantees of future performance. Actual results could differ materially from those contained in any forward-looking statement as a result of various factors, including, without limitation: the ability to raise additional capital to finance operations; the ability to advance product candidates through preclinical and clinical development; the ability to make regulatory submissions on anticipated timelines; the ability to obtain regulatory approval for, and ultimately commercialize, Palvella’s product candidates, including QTORIN™ rapamycin and QTORIN™ pitavastatin; the outcome of early clinical trials for Palvella’s product candidates, including the ability of those trials to satisfy relevant governmental or regulatory requirements; the fact that data and results from clinical studies may not necessarily be indicative of future results; Palvella’s limited experience in designing clinical trials and lack of experience in conducting clinical trials; Palvella’s limited experience in commercial manufacturing; the ability to identify and pivot to other programs, product candidates, or indications that may be more profitable or successful than Palvella’s current product candidates; the substantial competition Palvella faces in discovering, developing, or commercializing products; the negative impacts of global events on operations, including ongoing and planned clinical trials and ongoing and planned preclinical studies; the ability to attract, hire, and retain skilled executive officers and employees; the ability of Palvella to protect its intellectual property and proprietary technologies; reliance on third parties, contract manufacturers, and contract research organizations; and the risks and uncertainties described in the filings made by Palvella with the Securities and Exchange Commission (SEC), including the annual report on Form 10-K, quarterly reports on Form 10-Q and current reports on Form 8-K, filed with or furnished to the SEC and available at www.sec.gov. The events and circumstances reflected in our forward-looking statements may not be achieved or occur, and actual results could differ materially from those projected in the forward-looking statements. New risk factors and uncertainties may emerge from time to time, and it is not possible for management to predict all risk factors and uncertainties that Palvella may face. Except as required by applicable law, Palvella does not plan to publicly update or revise any forward-looking statements contained herein, whether as a result of any new information, future events, changed circumstances or otherwise. This press release contains hyperlinks to information that is not deemed to be incorporated by reference into this press release.

Contact Information

Investors

Wesley H. Kaupinen
Founder and CEO
Palvella Therapeutics
wes.kaupinen@palvellatx.com

Media

Marcy Nanus
Vice President of Investor Relations and Corporate Affairs
Palvella Therapeutics
marcy.nanus@palvellatx.com

Certified Fraud and Forensic Investigations Expert Brings Deep Experience in FCPA Matters, Anti-Corruption Compliance and Financial Crime Risk Management Across the Americas

WASHINGTON, Sept. 28, 2026 (GLOBE NEWSWIRE) — FTI Consulting, Inc. (NYSE: FCN) today announced the appointment of José Claudio Treviño as a Senior Managing Director and Leader of the firm’s Mexico Risk & Investigations practice, strengthening its financial crime, forensic investigations, ethics and compliance, and anti-corruption expertise across Mexico and Latin America.

Mr. Treviño will work with FTI Consulting teams across the United States, Mexico, Latin America and the firm’s global network to help multinational organizations address complex fraud, corruption, Foreign Corrupt Practices Act (“FCPA”), regulatory compliance and cross-border financial crime risks.

Mr. Treviño brings more than 23 years of experience helping organizations prevent, detect and respond to financial crime and related misconduct. His work spans anti-bribery and corruption compliance, internal and external fraud matters, FCPA and UK Bribery Act issues, third-party risk management, pre- and post-acquisition due diligence, and the application of forensic technology to complex reviews and compliance programs.

Throughout his career, Mr. Treviño has led complex, multijurisdictional investigations and compliance reviews across the Americas and beyond. He has advised senior management, boards of directors, audit committees and internal and external legal counsel on allegations of fraud and corruption, regulatory compliance matters and the design and implementation of anti-fraud and anti-corruption programs.

“Companies operating across the Americas are navigating an increasingly complex environment in which regulatory expectations, cross-border enforcement and financial crime risks frequently intersect,” said Nicole Wells, Americas Leader of the Risk & Investigations practice at FTI Consulting. “José brings a rare combination of deep investigations and compliance experience with a bicultural understanding of the U.S. and Latin American markets. His experience advising organizations through sensitive, high-stakes matters will further strengthen our ability to help clients prevent and respond to financial crime risks across the region.”

Prior to joining FTI Consulting, Mr. Treviño was a Partner in Deloitte’s Spanish Latin America’s Forensic & Financial Crime practice. Earlier in his career, he held senior forensic consulting leadership positions at KPMG Mexico and served as the head of Anti-Bribery & Corruption – Financial Crimes Compliance for HSBC in Mexico. His advisory work has spanned a broad range of industries, including automotive, manufacturing, oil and gas, financial services, pharmaceuticals, medical devices and telecommunications.

Mr. Treviño is a Certified Fraud Examiner (“CFE”) and Certified Forensic Interviewer (“CFI”). He serves on the boards of the Instituto Mexicano de Mejores Prácticas Corporativas (“IMMPC”) and the Asociación Mexicana de Integridad y Compliance (“AMEXICOM”).

Commenting on his appointment, Mr. Treviño said, “Organizations today are confronting financial crime risks that increasingly transcend borders, regulations and traditional organizational silos. What attracted me to FTI Consulting is the opportunity to bring together exceptional investigations, compliance, data, technology and industry expertise to help clients address those challenges. I am excited to join a global platform with an entrepreneurial culture and to work alongside colleagues across the United States, Mexico and Latin America to continue building a differentiated financial crime and investigations offering across the Americas.”

About FTI Consulting
FTI Consulting, Inc. is a leading global expert firm for organizations facing crisis and transformation, with more than 8,100 employees located in 32 countries and territories as of June 30, 2026. In certain jurisdictions, FTI Consulting’s services are provided through distinct legal entities that are separately capitalized and independently managed. The Company generated $3.8 billion in revenues during fiscal year 2025. More information can be found at www.fticonsulting.com.

FTI Consulting, Inc.
555 12^th Street NW
Washington, DC 20004
+1.202.312.9100

Investor Contact:
Mollie Hawkes
+1.617.747.1791
mollie.hawkes@fticonsulting.com

Media Contact:
Nick Emmons
+1.617.510.1676
nick.emmons@fticonsulting.com

Certified Fraud and Forensic Investigations Expert Brings Deep Experience in FCPA Matters, Anti-Corruption Compliance and Financial Crime Risk Management Across the Americas

WASHINGTON, Sept. 28, 2026 (GLOBE NEWSWIRE) — FTI Consulting, Inc. (NYSE: FCN) today announced the appointment of José Claudio Treviño as a Senior Managing Director and Leader of the firm’s Mexico Risk & Investigations practice, strengthening its financial crime, forensic investigations, ethics and compliance, and anti-corruption expertise across Mexico and Latin America.

Mr. Treviño will work with FTI Consulting teams across the United States, Mexico, Latin America and the firm’s global network to help multinational organizations address complex fraud, corruption, Foreign Corrupt Practices Act (“FCPA”), regulatory compliance and cross-border financial crime risks.

Mr. Treviño brings more than 23 years of experience helping organizations prevent, detect and respond to financial crime and related misconduct. His work spans anti-bribery and corruption compliance, internal and external fraud matters, FCPA and UK Bribery Act issues, third-party risk management, pre- and post-acquisition due diligence, and the application of forensic technology to complex reviews and compliance programs.

Throughout his career, Mr. Treviño has led complex, multijurisdictional investigations and compliance reviews across the Americas and beyond. He has advised senior management, boards of directors, audit committees and internal and external legal counsel on allegations of fraud and corruption, regulatory compliance matters and the design and implementation of anti-fraud and anti-corruption programs.

“Companies operating across the Americas are navigating an increasingly complex environment in which regulatory expectations, cross-border enforcement and financial crime risks frequently intersect,” said Nicole Wells, Americas Leader of the Risk & Investigations practice at FTI Consulting. “José brings a rare combination of deep investigations and compliance experience with a bicultural understanding of the U.S. and Latin American markets. His experience advising organizations through sensitive, high-stakes matters will further strengthen our ability to help clients prevent and respond to financial crime risks across the region.”

Prior to joining FTI Consulting, Mr. Treviño was a Partner in Deloitte’s Spanish Latin America’s Forensic & Financial Crime practice. Earlier in his career, he held senior forensic consulting leadership positions at KPMG Mexico and served as the head of Anti-Bribery & Corruption – Financial Crimes Compliance for HSBC in Mexico. His advisory work has spanned a broad range of industries, including automotive, manufacturing, oil and gas, financial services, pharmaceuticals, medical devices and telecommunications.

Mr. Treviño is a Certified Fraud Examiner (“CFE”) and Certified Forensic Interviewer (“CFI”). He serves on the boards of the Instituto Mexicano de Mejores Prácticas Corporativas (“IMMPC”) and the Asociación Mexicana de Integridad y Compliance (“AMEXICOM”).

Commenting on his appointment, Mr. Treviño said, “Organizations today are confronting financial crime risks that increasingly transcend borders, regulations and traditional organizational silos. What attracted me to FTI Consulting is the opportunity to bring together exceptional investigations, compliance, data, technology and industry expertise to help clients address those challenges. I am excited to join a global platform with an entrepreneurial culture and to work alongside colleagues across the United States, Mexico and Latin America to continue building a differentiated financial crime and investigations offering across the Americas.”

About FTI Consulting
FTI Consulting, Inc. is a leading global expert firm for organizations facing crisis and transformation, with more than 8,100 employees located in 32 countries and territories as of June 30, 2026. In certain jurisdictions, FTI Consulting’s services are provided through distinct legal entities that are separately capitalized and independently managed. The Company generated $3.8 billion in revenues during fiscal year 2025. More information can be found at www.fticonsulting.com.

FTI Consulting, Inc.
555 12^th Street NW
Washington, DC 20004
+1.202.312.9100

Investor Contact:
Mollie Hawkes
+1.617.747.1791
mollie.hawkes@fticonsulting.com

Media Contact:
Nick Emmons
+1.617.510.1676
nick.emmons@fticonsulting.com

• Delivers on long-term capital allocation priorities
• Returns share count to below pre-pandemic levels

MONTRÉAL, Sept. 28, 2026 (GLOBE NEWSWIRE) — Air Canada (TSX: AC) has taken up and paid for 27,586,206 of its Class A variable voting shares and Class B voting shares (collectively, the “shares”) at a price of $29.00 per share under its $800 million substantial issuer bid (the “offer”) to purchase shares for cancellation.

The shares bought under the offer represent about 9.8% of the total number of Air Canada’s outstanding shares as of September 24, 2026, before giving effect to the offer. After the offer, about 252.7 million shares will remain outstanding.

The completion of this offer is an important milestone in Air Canada’s disciplined execution of its capital allocation framework and priorities, allowing it to complete the return of its share count to below pre-pandemic levels. The share purchase was funded with part of the proceeds from the minority equity investment in Aeroplan by funds managed by Blackstone and La Caisse, together with other leading Canadian institutions. Completion of the offer allows Air Canada to return value to shareholders while continuing to invest in its New Frontiers strategy and support one of the strongest balance sheets among its North American peers.

Other information about the offer

A total of about 66.8 million shares were validly deposited in the offer and not withdrawn pursuant to auction tenders at $29.00 or purchase price tenders. Since the offer was oversubscribed, about 41% of the successfully tendered shares were purchased by Air Canada, other than “odd lot” tenders not subject to proration.

Air Canada has paid TSX Trust Company (Canada), the depositary under the offer, about $800 million for the purchased shares. Settlement will be made by the depositary on or before October 2, 2026, in accordance with the offer and applicable law. Any shares that are not purchased, including as a result of proration or auction tenders at more than $29.00, will be returned to shareholders as soon as practicable.

Air Canada estimates that for purposes of the Income Tax Act (Canada) (the “ITA”) the paid-up capital per share is about $10.60. Shareholders who have sold shares to Air Canada under the offer will as a result be deemed to have received a dividend equal to $18.40 per share, the amount by which the purchase price exceeds the paid-up capital per share for Canadian federal income tax purposes. The dividend deemed to have been paid by Air Canada to Canadian resident persons is designated as an “eligible dividend” for purposes of the ITA and any corresponding provincial and territorial tax legislation. The “specified amount” for purposes of subsection 191(4) of the ITA is $18.40. Shareholders should consult with their own tax advisors with respect to the income tax consequences of the disposition of their shares under the offer.

The full details of the offer were described in the offer to purchase and issuer bid circular dated August 20, 2026, as well as the related letter of transmittal and notice of guaranteed delivery, copies of which were filed and are available under Air Canada’s profile on SEDAR+ at www.sedarplus.ca.

This press release is for informational purposes only and does not constitute an offer to buy or the solicitation of an offer to sell Air Canada’s shares. All dollar amounts are in Canadian dollars and outstanding shares are based on the number thereof as of September 24, 2026.

CAUTION REGARDING FORWARD-LOOKING INFORMATION

This news release includes forward-looking statements within the meaning of applicable securities laws. Forward-looking statements relate to analyses and other information that are based on forecasts of future results and estimates of amounts not yet determinable. These statements may involve, but are not limited to, comments relating to guidance, strategies, expectations, planned operations or future actions. Forward-looking statements are identified using terms and phrases such as “preliminary”; “anticipate”; “believe”; “could”; “estimate”; “expect”; “intend”; “may”; “plan”; “predict”; “project”; “will”; “would”; and similar terms and phrases, including references to assumptions. These statements also include statements relating to the timing of payment and settlement for shares purchased under the offer, the number of shares expected to be issued and outstanding after completion of the offer and Air Canada’s anticipated benefits from the offer.

Forward-looking statements, by their nature, are based on assumptions including those described herein and are subject to important risks and uncertainties. Forward-looking statements cannot be relied upon due to, among other things, changing external events and general uncertainties of the business of Air Canada. Actual results may differ materially from results indicated in forward-looking statements due to a number of factors, including those discussed below.

Factors that may cause results to differ materially from results indicated in forward-looking statements include economic conditions, including high or volatile fuel prices or significant disruptions in the supply of aircraft fuel, including as a result of the military conflict in the Middle East, statements or actions by governments and uncertainty relating to the imposition of (or threats to impose) tariffs on Canadian exports or imports and their resulting impacts on the Canadian, North American and global economies and travel demand, geopolitical and security conditions including in relation to the military conflicts in the Middle East and between Russia and Ukraine, Air Canada’s ability to successfully achieve or sustain positive net profitability, industry and market conditions and the demand environment, competition, Air Canada’s dependence on technology, cybersecurity risks, interruptions of service, climate change and environmental factors (including weather systems and other natural phenomena and factors arising from anthropogenic sources), Air Canada’s dependence on key suppliers (including government agencies and other stakeholders supporting airport and airline operations), employee and labour relations and costs, Air Canada’s ability to successfully implement appropriate strategic and other important initiatives (including Air Canada’s ability to manage operating costs), energy prices, Air Canada’s ability to pay its indebtedness and maintain or increase liquidity, Air Canada’s dependence on regional and other carriers, Air Canada’s ability to attract and retain required personnel, epidemic diseases, changes in laws, regulatory developments or proceedings, terrorist acts, war, Air Canada’s ability to successfully operate its loyalty program, casualty losses, Air Canada’s dependence on Star Alliance® and joint ventures, Air Canada’s ability to preserve and grow its brand, pending and future litigation and actions by third parties, currency exchange fluctuations, limitations due to restrictive covenants, insurance issues and costs, and pension plan obligations as well as the factors identified in Air Canada’s public disclosure file available at www.sedarplus.ca and, in particular, those identified in section 14 “Risk Factors” of Air Canada’s Second Quarter 2026 MD&A and in section 18 “Risk Factors” of Air Canada’s 2025 MD&A.

The forward-looking statements contained in this news release represent Air Canada’s expectations as of the date of this news release (or as of the date they are otherwise stated to be made) and are subject to change after such date. However, Air Canada disclaims any intention or obligation to update or revise any forward-looking statements whether because of new information, future events or otherwise, except as required under applicable securities regulations.

About Air Canada

Air Canada is Canada’s largest airline, the country’s flag carrier and a founding member of Star Alliance, the world’s most comprehensive air transportation network. Headquartered in Montréal, Air Canada provides scheduled service directly to more than 180 airports in Canada, the United States and internationally on six continents. It holds a Four-Star ranking from Skytrax. Air Canada’s Aeroplan program is Canada’s premier travel loyalty program, with more than 10 million members worldwide. Members can earn or redeem points on the world’s largest airline partner network of more than 50 airlines, plus through an extensive range of merchandise, hotel and car rental partners. Through Air Canada Vacations, it offers a selection of vacation and Flight & Hotel packages, tours, cruises, car rentals, and experiences. Its freight division, Air Canada Cargo, provides air freight lift and connectivity to hundreds of destinations across six continents using Air Canada’s passenger and freighter aircraft. Air Canada’s climate-related ambition includes a long-term aspirational goal of net-zero greenhouse gas emissions by 2050. For additional information, please see Air Canada’s TCFD disclosure. Air Canada shares are publicly traded on the TSX (AC).

Contacts:        media@aircanada.ca

Internet:        aircanada.com/media

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• Delivers on long-term capital allocation priorities
• Returns share count to below pre-pandemic levels

MONTRÉAL, Sept. 28, 2026 (GLOBE NEWSWIRE) — Air Canada (TSX: AC) has taken up and paid for 27,586,206 of its Class A variable voting shares and Class B voting shares (collectively, the “shares”) at a price of $29.00 per share under its $800 million substantial issuer bid (the “offer”) to purchase shares for cancellation.

The shares bought under the offer represent about 9.8% of the total number of Air Canada’s outstanding shares as of September 24, 2026, before giving effect to the offer. After the offer, about 252.7 million shares will remain outstanding.

The completion of this offer is an important milestone in Air Canada’s disciplined execution of its capital allocation framework and priorities, allowing it to complete the return of its share count to below pre-pandemic levels. The share purchase was funded with part of the proceeds from the minority equity investment in Aeroplan by funds managed by Blackstone and La Caisse, together with other leading Canadian institutions. Completion of the offer allows Air Canada to return value to shareholders while continuing to invest in its New Frontiers strategy and support one of the strongest balance sheets among its North American peers.

Other information about the offer

A total of about 66.8 million shares were validly deposited in the offer and not withdrawn pursuant to auction tenders at $29.00 or purchase price tenders. Since the offer was oversubscribed, about 41% of the successfully tendered shares were purchased by Air Canada, other than “odd lot” tenders not subject to proration.

Air Canada has paid TSX Trust Company (Canada), the depositary under the offer, about $800 million for the purchased shares. Settlement will be made by the depositary on or before October 2, 2026, in accordance with the offer and applicable law. Any shares that are not purchased, including as a result of proration or auction tenders at more than $29.00, will be returned to shareholders as soon as practicable.

Air Canada estimates that for purposes of the Income Tax Act (Canada) (the “ITA”) the paid-up capital per share is about $10.60. Shareholders who have sold shares to Air Canada under the offer will as a result be deemed to have received a dividend equal to $18.40 per share, the amount by which the purchase price exceeds the paid-up capital per share for Canadian federal income tax purposes. The dividend deemed to have been paid by Air Canada to Canadian resident persons is designated as an “eligible dividend” for purposes of the ITA and any corresponding provincial and territorial tax legislation. The “specified amount” for purposes of subsection 191(4) of the ITA is $18.40. Shareholders should consult with their own tax advisors with respect to the income tax consequences of the disposition of their shares under the offer.

The full details of the offer were described in the offer to purchase and issuer bid circular dated August 20, 2026, as well as the related letter of transmittal and notice of guaranteed delivery, copies of which were filed and are available under Air Canada’s profile on SEDAR+ at www.sedarplus.ca.

This press release is for informational purposes only and does not constitute an offer to buy or the solicitation of an offer to sell Air Canada’s shares. All dollar amounts are in Canadian dollars and outstanding shares are based on the number thereof as of September 24, 2026.

CAUTION REGARDING FORWARD-LOOKING INFORMATION

This news release includes forward-looking statements within the meaning of applicable securities laws. Forward-looking statements relate to analyses and other information that are based on forecasts of future results and estimates of amounts not yet determinable. These statements may involve, but are not limited to, comments relating to guidance, strategies, expectations, planned operations or future actions. Forward-looking statements are identified using terms and phrases such as “preliminary”; “anticipate”; “believe”; “could”; “estimate”; “expect”; “intend”; “may”; “plan”; “predict”; “project”; “will”; “would”; and similar terms and phrases, including references to assumptions. These statements also include statements relating to the timing of payment and settlement for shares purchased under the offer, the number of shares expected to be issued and outstanding after completion of the offer and Air Canada’s anticipated benefits from the offer.

Forward-looking statements, by their nature, are based on assumptions including those described herein and are subject to important risks and uncertainties. Forward-looking statements cannot be relied upon due to, among other things, changing external events and general uncertainties of the business of Air Canada. Actual results may differ materially from results indicated in forward-looking statements due to a number of factors, including those discussed below.

Factors that may cause results to differ materially from results indicated in forward-looking statements include economic conditions, including high or volatile fuel prices or significant disruptions in the supply of aircraft fuel, including as a result of the military conflict in the Middle East, statements or actions by governments and uncertainty relating to the imposition of (or threats to impose) tariffs on Canadian exports or imports and their resulting impacts on the Canadian, North American and global economies and travel demand, geopolitical and security conditions including in relation to the military conflicts in the Middle East and between Russia and Ukraine, Air Canada’s ability to successfully achieve or sustain positive net profitability, industry and market conditions and the demand environment, competition, Air Canada’s dependence on technology, cybersecurity risks, interruptions of service, climate change and environmental factors (including weather systems and other natural phenomena and factors arising from anthropogenic sources), Air Canada’s dependence on key suppliers (including government agencies and other stakeholders supporting airport and airline operations), employee and labour relations and costs, Air Canada’s ability to successfully implement appropriate strategic and other important initiatives (including Air Canada’s ability to manage operating costs), energy prices, Air Canada’s ability to pay its indebtedness and maintain or increase liquidity, Air Canada’s dependence on regional and other carriers, Air Canada’s ability to attract and retain required personnel, epidemic diseases, changes in laws, regulatory developments or proceedings, terrorist acts, war, Air Canada’s ability to successfully operate its loyalty program, casualty losses, Air Canada’s dependence on Star Alliance® and joint ventures, Air Canada’s ability to preserve and grow its brand, pending and future litigation and actions by third parties, currency exchange fluctuations, limitations due to restrictive covenants, insurance issues and costs, and pension plan obligations as well as the factors identified in Air Canada’s public disclosure file available at www.sedarplus.ca and, in particular, those identified in section 14 “Risk Factors” of Air Canada’s Second Quarter 2026 MD&A and in section 18 “Risk Factors” of Air Canada’s 2025 MD&A.

The forward-looking statements contained in this news release represent Air Canada’s expectations as of the date of this news release (or as of the date they are otherwise stated to be made) and are subject to change after such date. However, Air Canada disclaims any intention or obligation to update or revise any forward-looking statements whether because of new information, future events or otherwise, except as required under applicable securities regulations.

About Air Canada

Air Canada is Canada’s largest airline, the country’s flag carrier and a founding member of Star Alliance, the world’s most comprehensive air transportation network. Headquartered in Montréal, Air Canada provides scheduled service directly to more than 180 airports in Canada, the United States and internationally on six continents. It holds a Four-Star ranking from Skytrax. Air Canada’s Aeroplan program is Canada’s premier travel loyalty program, with more than 10 million members worldwide. Members can earn or redeem points on the world’s largest airline partner network of more than 50 airlines, plus through an extensive range of merchandise, hotel and car rental partners. Through Air Canada Vacations, it offers a selection of vacation and Flight & Hotel packages, tours, cruises, car rentals, and experiences. Its freight division, Air Canada Cargo, provides air freight lift and connectivity to hundreds of destinations across six continents using Air Canada’s passenger and freighter aircraft. Air Canada’s climate-related ambition includes a long-term aspirational goal of net-zero greenhouse gas emissions by 2050. For additional information, please see Air Canada’s TCFD disclosure. Air Canada shares are publicly traded on the TSX (AC).

Contacts:        media@aircanada.ca

Internet:        aircanada.com/media

Read our annual report Here

Sign up for Air Canada news: aircanada.com

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• BARDA partnership accelerates development of SCY-247 as a potential therapy for the treatment and prevention of serious invasive fungal infections, addressing a critical public health need
• Non-dilutive funding for SCY-247 enables advancement of a Phase-2 ready program, strengthening the pipeline, enhancing portfolio optionality, and bolstering the Company’s long-term value proposition
• The Company does not anticipate any changes to its previously communicated guidance regarding development milestones for SCY-770, its lead product candidate for Autosomal Dominant Polycystic Kidney Disease (ADPKD), or the Company’s cash runway into 2029

JERSEY CITY, N.J., Sept. 28, 2026 (GLOBE NEWSWIRE) — SCYNEXIS, Inc. (NASDAQ: SCYX) (“SCYNEXIS” or the “Company”), a clinical-stage biotechnology company dedicated to advancing innovative solutions for severe rare diseases, today announced that it has been awarded a contract by the Biomedical Advanced Research and Development Authority (BARDA), part of the Administration for Strategic Preparedness and Response (ASPR) within the U.S. Department of Health and Human Services, to advance the development of SCY-247, the Company’s second-generation fungerp antifungal candidate.

“We are proud to partner with BARDA to advance the development of SCY-247, our antifungal designed to address the growing threat of antimicrobial resistance,” said David Angulo, M.D., President and Chief Executive Officer of SCYNEXIS. “While we remain focused on SCY-770, our new product candidate for ADPKD, this partnership enables the development of a novel therapy for the treatment and prevention of serious invasive fungal infections while leveraging our existing infrastructure and capabilities. Importantly, it strengthens our pipeline by allowing us to advance two programs into Phase 2 and positions SCYNEXIS to create long-term value by addressing significant unmet needs in severe rare diseases.”

Invasive fungal infections remain a significant public health threat, with limited treatment options and increasing resistance to existing therapies. SCYNEXIS is developing SCY-247 to address this unmet need, and BARDA’s support reflects the strategic importance of strengthening U.S. preparedness against serious drug-resistant fungal infections through innovative antifungal therapies. If all options are exercised, the BARDA contract could fund the development of SCY-247 from its current stage through NDA submission for two indications: treatment of invasive candidiasis and prevention of invasive fungal infections in high-risk patients. The contract may be extended for up to 10 years and provides up to approximately $214 million in potential funding if all options are exercised. The initial base period of the BARDA contract provides approximately $18.5 million to support advancement of oral and intravenous SCY-247 into a Phase 2 trial in patients with invasive candidiasis.

The award is structured as a cost-share arrangement, with BARDA providing support for eligible SCY-247 costs, including both direct and general and administrative expenses. The Company expects to fund its share of near-term program costs for SCY-247 within its existing operating plan. The Company’s previously communicated development plans for SCY-770 and the projected cash runway into 2029 remain unchanged.

This project has been funded in whole or in part with federal funds from the U.S. Department of Health and Human Services (HHS); Administration for Strategic Preparedness and Response (ASPR); Center for the Biomedical Advanced Research and Development Authority (BARDA), under contract number 75A50126C00007.

About SCY-247
SCY-247 is a second-generation triterpenoid (fungerp) antifungal candidate being developed for the treatment of invasive candidiasis and the prevention of invasive fungal diseases. As a member of a novel structural class, SCY-247 has a differentiated mechanism of action from existing antifungal classes and has demonstrated in vitro activity against a broad range of fungal pathogens, including strains resistant to currently available therapies. SCY-247 has been granted Orphan, Qualified Infectious Disease Product (QIDP) and Fast Track designations by the U.S. Food and Drug Administration. SCYNEXIS is developing both oral and intravenous (IV) formulations of SCY-247; positive Phase 1 single- and multiple-ascending-dose data for the oral formulation were reported in September 2025, and a Phase 1 study of the intravenous formulation has completed dosing with analysis ongoing.

About SCYNEXIS
SCYNEXIS, Inc. (NASDAQ: SCYX) is a clinical-stage biotechnology company dedicated to advancing innovative solutions for severe rare diseases. SCY-770 is being developed for the treatment of Autosomal Dominant Polycystic Kidney Disease (ADPKD) and has been granted Orphan Drug designation. SCYNEXIS’ proprietary antifungal platform “fungerps” includes BREXAFEMME® (ibrexafungerp tablets), the first approved representative of this novel class, which has been licensed to GSK, and SCY-247, currently in clinical development as an oral and IV antifungal for the treatment and prevention of invasive fungal infections. For more information, visit www.scynexis.com.

Forward-Looking Statements

Statements contained in this press release regarding expected future events or results are “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995, including but not limited to statements regarding: potential funding and expected proceeds from BARDA, whether BARDA will exercise all options, continued advancement of SCY-247 and SCY-770, expected funding to advance SCY-247 from current stage through NDA submission for two indications, the Company’s expected cash runway in 2029, the Company’s ability to create long-term value by addressing significant unmet needs in severe rare diseases, and other statements identified by words such as “will,” “potential,” “could,” “can,” “believe,” “intends,” “continue,” “plans,” “expects,” “anticipates,” “estimates,” “may,” other words of similar meaning or the use of future dates. Because such statements are subject to risks and uncertainties, actual results may differ materially from those expressed or implied by such forward-looking statements. These risks and uncertainties include, but are not limited to, risks inherent in regulatory and other costs in developing products. For the Company, this includes the future prospects of the Company’s SCY-770 and SCY-247 programs, the timing and results of the Company’s anticipated Phase 2 clinical studies, stock price volatility and uncertainties relating to the financial markets, the medical community and the global economy, and the impact of instability in general business and economic conditions, including changes in inflation and interest rates. These and other risks are described more fully in the Company’s filings with the Securities and Exchange Commission (the “SEC”), including without limitation, its most recent Annual Report on Form 10-K filed on March 4, 2026, including under the caption “Risk Factors,” and in other filings the Company makes with the SEC from time to time. All forward-looking statements contained in this press release speak only as of the date on which they were made. The Company undertakes no obligation to update such statements to reflect events that occur or circumstances that exist after the date on which they were made.

CONTACT: 
Investor Relations
John Fraunces
LifeSci Advisors
Tel: 917-355-2395
jfraunces@lifesciadvisors.com

• BARDA partnership accelerates development of SCY-247 as a potential therapy for the treatment and prevention of serious invasive fungal infections, addressing a critical public health need
• Non-dilutive funding for SCY-247 enables advancement of a Phase-2 ready program, strengthening the pipeline, enhancing portfolio optionality, and bolstering the Company’s long-term value proposition
• The Company does not anticipate any changes to its previously communicated guidance regarding development milestones for SCY-770, its lead product candidate for Autosomal Dominant Polycystic Kidney Disease (ADPKD), or the Company’s cash runway into 2029

JERSEY CITY, N.J., Sept. 28, 2026 (GLOBE NEWSWIRE) — SCYNEXIS, Inc. (NASDAQ: SCYX) (“SCYNEXIS” or the “Company”), a clinical-stage biotechnology company dedicated to advancing innovative solutions for severe rare diseases, today announced that it has been awarded a contract by the Biomedical Advanced Research and Development Authority (BARDA), part of the Administration for Strategic Preparedness and Response (ASPR) within the U.S. Department of Health and Human Services, to advance the development of SCY-247, the Company’s second-generation fungerp antifungal candidate.

“We are proud to partner with BARDA to advance the development of SCY-247, our antifungal designed to address the growing threat of antimicrobial resistance,” said David Angulo, M.D., President and Chief Executive Officer of SCYNEXIS. “While we remain focused on SCY-770, our new product candidate for ADPKD, this partnership enables the development of a novel therapy for the treatment and prevention of serious invasive fungal infections while leveraging our existing infrastructure and capabilities. Importantly, it strengthens our pipeline by allowing us to advance two programs into Phase 2 and positions SCYNEXIS to create long-term value by addressing significant unmet needs in severe rare diseases.”

Invasive fungal infections remain a significant public health threat, with limited treatment options and increasing resistance to existing therapies. SCYNEXIS is developing SCY-247 to address this unmet need, and BARDA’s support reflects the strategic importance of strengthening U.S. preparedness against serious drug-resistant fungal infections through innovative antifungal therapies. If all options are exercised, the BARDA contract could fund the development of SCY-247 from its current stage through NDA submission for two indications: treatment of invasive candidiasis and prevention of invasive fungal infections in high-risk patients. The contract may be extended for up to 10 years and provides up to approximately $214 million in potential funding if all options are exercised. The initial base period of the BARDA contract provides approximately $18.5 million to support advancement of oral and intravenous SCY-247 into a Phase 2 trial in patients with invasive candidiasis.

The award is structured as a cost-share arrangement, with BARDA providing support for eligible SCY-247 costs, including both direct and general and administrative expenses. The Company expects to fund its share of near-term program costs for SCY-247 within its existing operating plan. The Company’s previously communicated development plans for SCY-770 and the projected cash runway into 2029 remain unchanged.

This project has been funded in whole or in part with federal funds from the U.S. Department of Health and Human Services (HHS); Administration for Strategic Preparedness and Response (ASPR); Center for the Biomedical Advanced Research and Development Authority (BARDA), under contract number 75A50126C00007.

About SCY-247
SCY-247 is a second-generation triterpenoid (fungerp) antifungal candidate being developed for the treatment of invasive candidiasis and the prevention of invasive fungal diseases. As a member of a novel structural class, SCY-247 has a differentiated mechanism of action from existing antifungal classes and has demonstrated in vitro activity against a broad range of fungal pathogens, including strains resistant to currently available therapies. SCY-247 has been granted Orphan, Qualified Infectious Disease Product (QIDP) and Fast Track designations by the U.S. Food and Drug Administration. SCYNEXIS is developing both oral and intravenous (IV) formulations of SCY-247; positive Phase 1 single- and multiple-ascending-dose data for the oral formulation were reported in September 2025, and a Phase 1 study of the intravenous formulation has completed dosing with analysis ongoing.

About SCYNEXIS
SCYNEXIS, Inc. (NASDAQ: SCYX) is a clinical-stage biotechnology company dedicated to advancing innovative solutions for severe rare diseases. SCY-770 is being developed for the treatment of Autosomal Dominant Polycystic Kidney Disease (ADPKD) and has been granted Orphan Drug designation. SCYNEXIS’ proprietary antifungal platform “fungerps” includes BREXAFEMME® (ibrexafungerp tablets), the first approved representative of this novel class, which has been licensed to GSK, and SCY-247, currently in clinical development as an oral and IV antifungal for the treatment and prevention of invasive fungal infections. For more information, visit www.scynexis.com.

Forward-Looking Statements

Statements contained in this press release regarding expected future events or results are “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995, including but not limited to statements regarding: potential funding and expected proceeds from BARDA, whether BARDA will exercise all options, continued advancement of SCY-247 and SCY-770, expected funding to advance SCY-247 from current stage through NDA submission for two indications, the Company’s expected cash runway in 2029, the Company’s ability to create long-term value by addressing significant unmet needs in severe rare diseases, and other statements identified by words such as “will,” “potential,” “could,” “can,” “believe,” “intends,” “continue,” “plans,” “expects,” “anticipates,” “estimates,” “may,” other words of similar meaning or the use of future dates. Because such statements are subject to risks and uncertainties, actual results may differ materially from those expressed or implied by such forward-looking statements. These risks and uncertainties include, but are not limited to, risks inherent in regulatory and other costs in developing products. For the Company, this includes the future prospects of the Company’s SCY-770 and SCY-247 programs, the timing and results of the Company’s anticipated Phase 2 clinical studies, stock price volatility and uncertainties relating to the financial markets, the medical community and the global economy, and the impact of instability in general business and economic conditions, including changes in inflation and interest rates. These and other risks are described more fully in the Company’s filings with the Securities and Exchange Commission (the “SEC”), including without limitation, its most recent Annual Report on Form 10-K filed on March 4, 2026, including under the caption “Risk Factors,” and in other filings the Company makes with the SEC from time to time. All forward-looking statements contained in this press release speak only as of the date on which they were made. The Company undertakes no obligation to update such statements to reflect events that occur or circumstances that exist after the date on which they were made.

CONTACT: 
Investor Relations
John Fraunces
LifeSci Advisors
Tel: 917-355-2395
jfraunces@lifesciadvisors.com

TORONTO, Sept. 28, 2026 (GLOBE NEWSWIRE) — Base Carbon Inc. (Cboe CA: BCBN) (OTCQX: BCBNF) with operations through its wholly-owned subsidiary, Base Carbon Capital Partners Corp. (“BCCPC”, together, with affiliates, “Base Carbon”, or the “Company”), is pleased to announce that carbon credit registry, Verra, has completed CORSIA – First Phase, 2024-2026 Eligible (“CORSIA-eligible”) tagging of 639,609 previously issued carbon credits from the Company’s Rwanda cookstoves project (the “Project”).

Highlights: 

• Verra has completed CORSIA-eligible tagging of 639,609 previously issued carbon credits from the Project utilizing the current VM0050 cookstove methodology.
   
• This brings the aggregate number of CORSIA-eligible tagged carbon credits issued to date from the Project to 1,959,812.

Going forward, the Project is anticipated to generate approximately 2.6 million additional carbon credits on regular 6-month intervals during the remainder of the Project’s crediting period. The Company expects all of these further credits to become CORSIA-eligible. The Company is actively engaged in multiple carbon credit sale processes and continues to remain focused on value maximization.

“Today’s announcement further demonstrates the maturity and reliability of our Project through the regular cadence of issuance and eligibility,” said Michael Costa, Chief Executive Officer of Base Carbon. “DelAgua’s consistent operational expertise and execution of the Project continue to strengthen our market position, with fully CORSIA-eligible inventories available to meet aviation compliance demand,” added Costa.

About Base Carbon

Base Carbon provides capital, development expertise and management operating resources to projects involved in the global carbon markets. We endeavor to be the preferred carbon project partner in providing capital and management resources to carbon removal and reduction projects globally and, where appropriate, will utilize technologies within the evolving environmental industries to enhance efficiencies, commercial credibility, and trading transparency. For more information, please visit www.basecarbon.com.

Media and Investor Inquiries 

Base Carbon Inc. 
Investor Relations 
Tel: +1 647 952 3979 
E-mail: investorrelations@basecarbon.com

Media Inquiries 
E-mail: media@basecarbon.com

Cautionary Statement Regarding Forward Looking Information

This press release contains “forward-looking information” within the meaning of applicable securities laws relating to the focus of Base Carbon’s business, the expected issuance and timing of carbon credits, the future application of Article 6 of the Paris Agreement, the Article 6 Authorized label, the CORSIA-eligible label and market reaction thereto, the outcome of current carbon credit sale processes and the ability to monetize or sell carbon credits and the receipt of proceeds from the disposition of carbon credits or revenue sharing arrangements, the implementation of the CORSIA framework and timing of eligibility and participation of carbon credits and carbon credit methodologies thereunder, and the market demand and price of CORSIA-eligible carbon credits. In some cases, but not necessarily in all cases, forward-looking information may be identified by the use of forward-looking terminology such as “expects”, “anticipates”, “intends”, “contemplates”, “believes”, “projects”, “plans”, “seeks” or variations of such words and similar expressions or state that certain actions, events or results “may”, “could”, “would”, “might”, “will” or “will be taken”, “occur” or “be achieved”. In addition, any statements that refer to expectations, projections or other characterizations of future events or circumstances contain forward-looking information. Statements containing forward-looking information are not historical facts but instead represent management’s expectations, estimates and projections regarding future events. These statements should not be read as guarantees of future performance, results, or achievements.

Although management believes that the anticipated future results, performance or achievements expressed or implied by the forward-looking information are based upon reasonable assumptions and expectations, readers should not place undue reliance on forward-looking information because it involves assumptions, known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements to differ materially from anticipated future results, performance or achievements expressed or implied by such forward-looking information.

In respect of the Rwanda cookstoves project, certain factors that influence the commercial success of such project, including the timing and number of expected carbon credits, include among other things: (i) the Company has retained industry leading experts/consultants/advisors to assist with the evaluation, planning, negotiation and execution of such project, (ii) the work product, including monitoring reports, of each project’s validation and verification body, (iii) project carbon credit market prices, (iv) the verification of ongoing project monitoring reports and issuance of carbon credits by Verra, and (v) changes to laws, regulation or policies in applicable jurisdictions.

In respect of the Rwanda cookstoves project, certain assumptions that influence the commercial success of such project, including the timing and number of expected carbon credits, include among other things: (i) distributed cookstoves perform to specification when used and participating households use the devices as contemplated by project estimates, (ii) the Company’s in-country project partners perform their obligations in connection with the development and operation of the project, (iii) there is no further changes in the project methodologies used by the applicable carbon credit registry or otherwise adopted by project proponents which results in less carbon credits being issuable, (iv) positive market recognition of the attributes linked to the Company’s carbon credits (such as project methodologies and changes thereto) and acceptance of such carbon credits by emissions trading schemes or compliance programs such as CORSIA, and (v) continued participant involvement and public support, including that of applicable governmental authorities, of the voluntary and compliance carbon markets.

The forward-looking statements made herein are subject to a variety of risk factors and uncertainties, many of which are beyond the Company’s control, which could cause actual events or results to differ materially and adversely from those reflected in the forward-looking statements. Readers are cautioned that forward-looking statements are not guarantees of future performance. Specific reference is made to the management’s discussion and analysis for the Company’s quarter ended June 30, 2026 and the most recent Annual Information Form on file with the Canadian provincial securities regulatory authorities (and available on www.sedarplus.ca) for a more detailed discussion of some of the factors underlying forward-looking statements and the risks that may affect the Company’s ability to achieve the expectations set forth in the forward-looking statements contained in this press release.

Should one or more of the risks and uncertainties materialize, or should underlying assumptions prove incorrect, actual events or results may vary materially and adversely from those described in the forward-looking information. The forward-looking information contained in this press release is provided as of the date of this press release, and the Company expressly disclaims any obligation to update or alter statements containing any forward-looking information, or the factors or assumptions underlying them, whether as a result of new information, future events or otherwise, except as required by law.

TORONTO, Sept. 28, 2026 (GLOBE NEWSWIRE) — Base Carbon Inc. (Cboe CA: BCBN) (OTCQX: BCBNF) with operations through its wholly-owned subsidiary, Base Carbon Capital Partners Corp. (“BCCPC”, together, with affiliates, “Base Carbon”, or the “Company”), is pleased to announce that carbon credit registry, Verra, has completed CORSIA – First Phase, 2024-2026 Eligible (“CORSIA-eligible”) tagging of 639,609 previously issued carbon credits from the Company’s Rwanda cookstoves project (the “Project”).

Highlights: 

• Verra has completed CORSIA-eligible tagging of 639,609 previously issued carbon credits from the Project utilizing the current VM0050 cookstove methodology.
   
• This brings the aggregate number of CORSIA-eligible tagged carbon credits issued to date from the Project to 1,959,812.

Going forward, the Project is anticipated to generate approximately 2.6 million additional carbon credits on regular 6-month intervals during the remainder of the Project’s crediting period. The Company expects all of these further credits to become CORSIA-eligible. The Company is actively engaged in multiple carbon credit sale processes and continues to remain focused on value maximization.

“Today’s announcement further demonstrates the maturity and reliability of our Project through the regular cadence of issuance and eligibility,” said Michael Costa, Chief Executive Officer of Base Carbon. “DelAgua’s consistent operational expertise and execution of the Project continue to strengthen our market position, with fully CORSIA-eligible inventories available to meet aviation compliance demand,” added Costa.

About Base Carbon

Base Carbon provides capital, development expertise and management operating resources to projects involved in the global carbon markets. We endeavor to be the preferred carbon project partner in providing capital and management resources to carbon removal and reduction projects globally and, where appropriate, will utilize technologies within the evolving environmental industries to enhance efficiencies, commercial credibility, and trading transparency. For more information, please visit www.basecarbon.com.

Media and Investor Inquiries 

Base Carbon Inc. 
Investor Relations 
Tel: +1 647 952 3979 
E-mail: investorrelations@basecarbon.com

Media Inquiries 
E-mail: media@basecarbon.com

Cautionary Statement Regarding Forward Looking Information

This press release contains “forward-looking information” within the meaning of applicable securities laws relating to the focus of Base Carbon’s business, the expected issuance and timing of carbon credits, the future application of Article 6 of the Paris Agreement, the Article 6 Authorized label, the CORSIA-eligible label and market reaction thereto, the outcome of current carbon credit sale processes and the ability to monetize or sell carbon credits and the receipt of proceeds from the disposition of carbon credits or revenue sharing arrangements, the implementation of the CORSIA framework and timing of eligibility and participation of carbon credits and carbon credit methodologies thereunder, and the market demand and price of CORSIA-eligible carbon credits. In some cases, but not necessarily in all cases, forward-looking information may be identified by the use of forward-looking terminology such as “expects”, “anticipates”, “intends”, “contemplates”, “believes”, “projects”, “plans”, “seeks” or variations of such words and similar expressions or state that certain actions, events or results “may”, “could”, “would”, “might”, “will” or “will be taken”, “occur” or “be achieved”. In addition, any statements that refer to expectations, projections or other characterizations of future events or circumstances contain forward-looking information. Statements containing forward-looking information are not historical facts but instead represent management’s expectations, estimates and projections regarding future events. These statements should not be read as guarantees of future performance, results, or achievements.

Although management believes that the anticipated future results, performance or achievements expressed or implied by the forward-looking information are based upon reasonable assumptions and expectations, readers should not place undue reliance on forward-looking information because it involves assumptions, known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements to differ materially from anticipated future results, performance or achievements expressed or implied by such forward-looking information.

In respect of the Rwanda cookstoves project, certain factors that influence the commercial success of such project, including the timing and number of expected carbon credits, include among other things: (i) the Company has retained industry leading experts/consultants/advisors to assist with the evaluation, planning, negotiation and execution of such project, (ii) the work product, including monitoring reports, of each project’s validation and verification body, (iii) project carbon credit market prices, (iv) the verification of ongoing project monitoring reports and issuance of carbon credits by Verra, and (v) changes to laws, regulation or policies in applicable jurisdictions.

In respect of the Rwanda cookstoves project, certain assumptions that influence the commercial success of such project, including the timing and number of expected carbon credits, include among other things: (i) distributed cookstoves perform to specification when used and participating households use the devices as contemplated by project estimates, (ii) the Company’s in-country project partners perform their obligations in connection with the development and operation of the project, (iii) there is no further changes in the project methodologies used by the applicable carbon credit registry or otherwise adopted by project proponents which results in less carbon credits being issuable, (iv) positive market recognition of the attributes linked to the Company’s carbon credits (such as project methodologies and changes thereto) and acceptance of such carbon credits by emissions trading schemes or compliance programs such as CORSIA, and (v) continued participant involvement and public support, including that of applicable governmental authorities, of the voluntary and compliance carbon markets.

The forward-looking statements made herein are subject to a variety of risk factors and uncertainties, many of which are beyond the Company’s control, which could cause actual events or results to differ materially and adversely from those reflected in the forward-looking statements. Readers are cautioned that forward-looking statements are not guarantees of future performance. Specific reference is made to the management’s discussion and analysis for the Company’s quarter ended June 30, 2026 and the most recent Annual Information Form on file with the Canadian provincial securities regulatory authorities (and available on www.sedarplus.ca) for a more detailed discussion of some of the factors underlying forward-looking statements and the risks that may affect the Company’s ability to achieve the expectations set forth in the forward-looking statements contained in this press release.

Should one or more of the risks and uncertainties materialize, or should underlying assumptions prove incorrect, actual events or results may vary materially and adversely from those described in the forward-looking information. The forward-looking information contained in this press release is provided as of the date of this press release, and the Company expressly disclaims any obligation to update or alter statements containing any forward-looking information, or the factors or assumptions underlying them, whether as a result of new information, future events or otherwise, except as required by law.

Dr. Houvras brings over two decades of executive leadership across premier industry and academic research institutions in clinical development, translational medicine and immuno-oncology

WALTHAM, Mass., Sept. 28, 2026 (GLOBE NEWSWIRE) — Xilio Therapeutics, Inc. (Nasdaq: XLO), a clinical-stage biotechnology company discovering and developing masked immuno-oncology therapies for people living with cancer, today announced the appointment of Dr. Yariv Houvras as chief medical officer.

“We are thrilled to welcome Yariv at this exciting time for Xilio as we advance XTX501, our bispecific PD-1 / masked IL-2, in the clinic and our next generation of multi-specific, masked T cell engagers,” said René Russo, Pharm.D., president and chief executive officer of Xilio. “Yariv is an accomplished physician-scientist with a proven track record of leading complex global clinical development programs from first-in-human studies through registrational Phase 3 trials and regulatory approvals. His deep scientific rigor and expertise in immuno-oncology will be invaluable as we continue towards our goal of unlocking the full potential of our pipeline of masked I-O therapies.”

“I believe Xilio’s best-in-class masking technology and protein engineering capabilities have tremendous potential to deliver transformative, tumor-selective I-O therapies,” said Dr. Houvras. “In the near-term, I am particularly excited about the potential for XTX501 as a backbone therapy for oncology, and I look forward to building upon Xilio’s strong clinical foundation and working closely with the company’s talented team.”

Yariv J. Houvras, M.D., Ph.D.

Dr. Houvras brings more than 20 years of leadership experience across premier industry and academic research institutions in clinical development, translational medicine and immuno-oncology, including hematologic malignancies and solid tumors. Prior to joining Xilio, he served as senior vice president of clinical and translational development of Tubulis, GmbH (Tubulis) through its acquisition by Gilead Sciences, Inc. At Tubulis, Dr. Houvras was the global head of clinical development and was responsible for scientific and medical oversight of Tubulis’ antibody-drug conjugate (ADC) programs in solid tumors. In this role, he led multiple first-in-human and registration-enabling clinical studies. Prior to Tubulis, he served as senior medical director of hematology and translational sciences at Regeneron Pharmaceuticals, Inc. where he was the physician for linvoseltamab, a bispecific T cell engager targeting BCMA and CD3, from first-in-human studies through accelerated and conditional regulatory approval in the U.S. and European Union. Earlier in his career, Dr. Houvras served in academic roles of increasing responsibility at Weill Cornell Medical College and Harvard Medical School. He completed his internal medicine residency at Massachusetts General Hospital (MGH) and his medical oncology and hematology fellowships at Dana-Farber Cancer Institute and MGH. In addition, Dr. Houvras has served on various leadership boards, including Director of the International Thyroid Oncology Group, and he has authored over 30 peer-reviewed publications in journals such as Nature, Cell and the Journal of Clinical Oncology. He received his B.S. in biology and English literature from the University of Michigan – Ann Arbor and an M.D. and Ph.D. from the Mount Sinai School of Medicine.

About Xilio Therapeutics

Xilio Therapeutics is a clinical-stage biotechnology company discovering and developing masked immuno-oncology (I-O) therapies with the goal of significantly improving outcomes for people living with cancer without the systemic side effects of current I-O treatments. Leveraging our clinically-validated masking technology and capabilities, Xilio is developing I-O therapies designed to selectively activate within the tumor microenvironment to achieve durable efficacy without the severe side effects associated with systemically active I-O agents. Learn more by visiting www.xiliotx.com and follow us on LinkedIn (Xilio Therapeutics, Inc.).

Cautionary Note Regarding Forward-Looking Statements

This press release contains forward-looking statements within the meaning of applicable securities laws and regulations, including, without limitation, statements regarding plans, expectations, development timelines and anticipated milestones for Xilio’s programs, including advancing XTX501 and the company’s next generation of multi-specific T cell engagers; the potential for XTX501 as a backbone therapy for oncology; and Xilio’s strategy, goals, business plans and focus, including the potential to deliver transformative, tumor-selective I-O therapies and to unlock the value of the company’s pipeline of such therapies. The words “aim,” “may,” “will,” “could,” “would,” “should,” “expect,” “plan,” “anticipate,” “intend,” “believe,” “estimate,” “predict,” “project,” “potential,” “continue,” “seek,” “target” and similar expressions are intended to identify forward-looking statements, although not all forward-looking statements contain these identifying words. Any forward-looking statements in this press release are based on management’s current expectations and beliefs and are subject to a number of important risks, uncertainties and other factors that may cause actual events or results to differ materially from those expressed or implied by any forward-looking statements contained in this press release, including, without limitation, risks related to general market conditions and geopolitical uncertainties; risks and uncertainties related to ongoing and planned research and development activities, including initiating, conducting or completing preclinical studies and clinical trials and the timing and results of such preclinical studies or clinical trials; the delay of any current or planned preclinical studies or clinical trials or the development of Xilio’s current or future product candidates; Xilio’s ability to obtain and maintain sufficient preclinical and clinical supply of current or future product candidates; initial, preliminary, interim or retrospective preclinical or clinical data or results may not be replicated in or predictive of future preclinical or clinical data or results; Xilio’s ability to successfully demonstrate the safety and efficacy of its product candidates and gain approval of its product candidates on a timely basis, if at all; results from preclinical studies or clinical trials for Xilio’s product candidates may not support further development of such product candidates; actions of regulatory agencies may affect the initiation, timing and progress of current or future clinical trials; Xilio’s ability to obtain, maintain and enforce patent and other intellectual property protection for current or future product candidates; Xilio’s need to obtain additional cash resources to advance its pipeline of masked I-O molecules; the impact of international trade policies on Xilio’s business, including U.S. and China trade policies; and Xilio’s ability to maintain its collaboration and license agreements with AbbVie and Gilead. These and other risks and uncertainties are described in greater detail in the sections entitled “Risk Factor Summary” and “Risk Factors” in Xilio’s filings with the U.S. Securities and Exchange Commission (SEC), including Xilio’s most recent Quarterly Report on Form 10-Q and any other filings that Xilio has made or may make with the SEC in the future. Any forward-looking statements contained in this press release represent Xilio’s views only as of the date hereof and should not be relied upon as representing its views as of any subsequent date. Except as required by law, Xilio explicitly disclaims any obligation to update any forward-looking statements.

This press release contains hyperlinks to information that is not deemed to be incorporated by reference in this press release.

Investor Contact  
Alex Lobo, Precision AQ
alex.lobo@precisionaq.com

Media Contact  
Josie Butler, 1AB
josie@1abmedia.com