Author: Ravi Shankar

2026 Half-Year Results and Business Update

myvac® – Expanding potential across solid tumors through viral vector, AI driven neoantigen selection, and scalable cell-line manufacturing

TG4050 – First Individualized Neoantigen Therapeutic Vaccine (INTV) from the myvac® platform advancing in resected HNSCC¹

• Randomized Phase 1 data published in Nature Communications; Sustained 100% disease-free survival (DFS) after more than 3 years of follow-up, showing durable clinical outcomes and potential to prevent cancer recurrence
• Randomized Phase 2 recruitment completed, trial is ongoing with topline results expected in Q1 2028
• Preparing for potential pivotal trial in HNSCC with cell-line manufacturing

TG4070 – Second novel myvac®-based INTV in early-stage NSCLC², with potential to be applied across multiple early-stage solid tumor types

• Leverages Transgene’s proprietary AI driven neoantigen selection (SNIPER^TM) and cell-line manufacturing
• All clinical sites open for randomized Phase 1 trial

Positive preclinical data from TG-MVA^TM, a new generation of prophylactic vaccine against mpox and smallpox based on MVA vector

Business funded until early 2028

Strasbourg, France, September 24, 2026, 5:45 pm CET — Transgene (Euronext Paris: TNG), a biotech company developing myvac®, an individualized neoantigen therapeutic vaccines (INTV) platform designed to prevent cancer recurrence and a portfolio of virus-based candidates, today publishes its financial results for the six months ended June 30, 2026, and provides an update on the progress of its pipeline and its upcoming plans.

“Since the beginning of the year, Transgene has delivered tangible progress and important results with the publication of the TG4050 Phase 1 data , the completion of enrolment in the Phase 2 trial in the same indication and the initiation  of the Phase 1 trial of TG4070, the second INTV from our myvac® platform introducing our proprietary AI-driven neoantigen selection and scalable cell-line manufacturing capabilities.” commented Alessandro Riva, MD, Chairman and Chief Executive Officer of Transgene.
“These milestones strengthen the foundation of the continued advancement of our myvac® platform, which will be key in our strategy to be Phase 3-ready in 2028, when we will obtain the topline results of the ongoing Phase 2 trial of TG4050 in resected head and neck cancer. At the same time, we are advancing our second INTV, TG4070, through Phase 1 development for non-small cell lung cancer.
“In parallel, we continue to leverage our expertise in MVA to develop TG-MVA^TM, a prophylactic vaccine against mpox and smallpox designed to address the growing global needs in biosecurity, pandemic preparedness and vaccine supply resilience. Supported by our financial visibility through early 2028, we are very well positioned to execute on our strategy and deliver the next wave of clinical and operational milestones for patients, partners and shareholders.”

TG4050: Data continue to support potential role in preventing cancer recurrence in HNSCC

Phase 1 part: Robust clinical proof of principle, with 100% DFS sustained after more than 3 years of follow-up – now published in leading peer-reviewed journal Nature Communications

At the end of August 2026, the comprehensive and compelling clinical and translational results from the Phase 1 part of Transgene’s randomized Phase 1/2 trial (NCT04183166) evaluating TG4050 in resected HNSCC (see press release) were published in Nature Communications. The peer-reviewed publication confirmed the positive clinical and translational findings, TG4050’s favorable safety profile and the persistence of durable neoantigen-specific CD8+ T-cell responses one year after the end of treatment.

Latest follow-up data, announced alongside the publication, demonstrate sustained 100% DFS in patients treated with TG4050 after more than 3 years of follow-up (41 months median follow-up), whereas 3 of 16 patients in the control arm have relapsed.

Phase 2 part: patient randomization completed

In April 2026, Transgene announced the completion of patient randomization in the Phase 2 part of the Phase 1/2 trial for the adjuvant treatment of HNSCC (see press release).

The primary objective of the Phase 1/2 trial is to compare TG4050’s efficacy as a single agent versus watchful waiting in patients with resected locoregionally advanced HPV-negative head and neck cancer, with 2-year DFS as the primary endpoint.

The emergence of immune checkpoint inhibitor (ICI)-based perioperative treatment marks an important advance in the HNSCC treatment landscape. However, a significant unmet medical need remains, with approximately 35% of patients still experiencing disease recurrence within two years. TG4050 is designed to further improve outcomes in this population by inducing durable, patient-specific anti-tumor immune responses with the potential to reduce the risk of relapse.

Transgene expects to communicate topline results from TG4050’s Phase 1/2 trial by the end of Q1 2028. First immunological data are expected to be available in H2 2026, with the goal of presenting them at a scientific conference in H1 2027.

Preparing future clinical development and potential pivotal clinical trial in HNSCC

In April 2026, Transgene and NEC Bio B.V. announced the signing of a license agreement to advance the clinical development of TG4050 in head and neck cancer (see press release).
Under this agreement, Transgene secures access to NEC’s AI-based neoantigen prediction platform, to support TG4050’s further clinical development, commercialization and potential partnering. Transgene has paid a technology access fee of €2.5 million in Transgene shares as well as €1.0 million of the additional €2.5 million cash payment, the remainder of which will be paid out in several instalments through early 2028. Additional development and milestone payments will be paid to NEC based upon progress of the clinical development of TG4050 in head and neck cancer. NEC retains full ownership and operational control of its AI platform and will support Transgene in conducting further clinical activity.

In parallel, Transgene is optimizing its manufacturing processes and capabilities to prepare for a potential pivotal clinical trial in HNSCC, including a transition of TG4050 to cell-line based manufacturing.

TG4070: Combining cutting-edge proprietary AI and scalable manufacturing to further expand the potential of the myvac® platform across multiple solid tumor indications

Initiation of a randomized Phase 1 trial for TG4070 in NSCLC

In June 2026, Transgene announced the initiation of a randomized Phase 1 trial evaluating TG4070, a novel INTV fully designed and developed in-house (see press release). Transgene’s second INTV candidate, TG4070, reflects the important strategic expansion of the myvac® platform. Like TG4050, it leverages Transgene’s clinically validated MVA viral vector, ensuring technological consistency of the myvac® platform.

Patient screening is underway in this multicenter trial. The study is evaluating TG4070 in combination with nivolumab in patients with resected NSCLC following neoadjuvant nivolumab plus chemotherapy (EUCT 2025-520946-31-00). The combination is designed to leverage the complementary potential of individualized vaccination and immune checkpoint inhibition to enhance and sustain patient-specific anti-tumor immune responses. Prof. Nicolas Girard, MD, PhD (Institut Curie) is the Principal Investigator. A replay of Transgene’s KOL event to discuss this new indication and the associated clinical trial is available here.

SNIPER^TM: Proprietary AI-based tool enabling high-precision neoantigen selection

Transgene has developed its proprietary in-house, AI-driven bioinformatics tool, SNIPER^TM, to support the development of TG4070 and future myvac®-derived candidates. Integrating multiple computational models, SNIPER^TM is designed to identify and prioritize highly immunogenic neoantigens for each individual patient through a proprietary scoring framework.
In addition, VacDesignR®, fully integrated into the myvac® platform, is Transgene’s patented in-house computational design engine that optimizes genetic constructs for MVA vectors, significantly improving production reliability and vector quality.

Cell-line optimized manufacturing to support large scale production for myvac® candidates

TG4070 is manufactured using a scalable and transposable cell-line based process designed to support broader deployment of INTV candidates while ensuring reliable vaccine supply. This optimized process enables more efficient and automated production, improved lead times and scalability. These manufacturing advances broaden the potential application of the myvac® platform across additional indications and larger patient populations.

Together, these proprietary capabilities provide Transgene with an integrated in-house technology suite spanning neoantigen selection, vaccine design and scalable manufacturing to support INTV development from candidate design through clinical development.

Transgene extends its pipeline with TG-MVA^TM, a prophylactic vaccine candidate against mpox and smallpox

Leveraging the investment already made in the MVA cell-line platform used for myvac®, Transgene is applying its deep viral-vector engineering expertise to Orthopoxvirus-related diseases, including mpox and smallpox.
TG-MVA^TM is a next generation vaccine candidate based on a non-replicating MVA backbone and an innovative cell line-based manufacturing process. It is designed to address key manufacturing and supply challenges, with the potential to diversify and expand vaccine availability to address public health needs and preparedness for future epidemics or bioterrorism threats.

On June 25, 2026, Transgene presented new preclinical data at the World Congress on Infectious Diseases (WCID) 2026, demonstrating the potential of TG-MVA^TM to provide robust protection against monkeypox virus (MPXV) (see presentation here).

Based on these positive results and ongoing discussions with Health Authorities and other key stakeholders on the next development steps, Transgene is preparing to advance TG-MVA^TM into clinical development to address future vaccine supply needs.

BT-001 oncolytic virus for intratumoral administration

The results obtained to date support the continued clinical development of BT-001 in solid tumors with the aim of improving responses to immunotherapy.
A Phase 1 clinical trial sponsored by an independent investigator at Copenhagen University Hospital has been approved by the Danish health authorities. Transgene and the University of Copenhagen are collaborating with the OV-PRIME-R trial to evaluate the combination of Transgene’s armed oncolytic virus BT-001 with an anti-PD1 in patients with localized rectal cancer with proficient mismatch repair status. Patient screening is expected to start in the coming months.

Governance: Anne Stehlin joins Transgene as Chief Quality Officer; Katell Bidet Huang appointed Interim Chief Scientific Officer

Anne Stehlin, PharmD, recently joined Transgene as Chief Quality Officer and Responsible Pharmacist. Reporting to Chairman and CEO Alessandro Riva, she is a member of the Executive Committee.
Dr. Stehlin is a pharmaceutical executive with extensive experience in quality and manufacturing operations. Prior to joining Transgene, she held senior global quality leadership roles at Lonza, a leading biopharmaceutical CDMO. Before that, she served as Head of Global Quality Management and a member of the extended management team at Basilea Pharmaceutica.
Earlier in her career, she held multiple leadership roles at Novartis across technical operations and product quality, eventually serving as Global Head of Product Quality Lifecycle Management.
Dr. Stehlin holds a PharmD degree from the University of Strasbourg.

Katell Bidet Huang, PhD, head of Translational Medicine at Transgene, has been appointed Interim Chief Scientific Officer (CSO), succeeding Maurizio Ceppi who has left the Company. In this role, she joins Transgene’s Executive Committee and will ensure continuity of the Company’s scientific activities and maintain momentum across its research and development programs. She will serve in this position until a permanent Chief Scientific Officer is appointed.

Key Financial Elements & Financial Visibility

(in thousands of euros)	June 30, 2026	June 30, 2025
Operating income	2,993	4,579
Research and development expenses	(15,425)	(17,910)
General and administrative expenses	(4,122)	(3,783)
Other expenses	(186)	54
Operating expenses	(19,733)	(21,639)
Operating income/(loss)	(16,740)	(17,060)
Financial income/(loss)	1,071	(2,235)
Net income/(loss)	(15,669)	(19,295)

Operating income amounted to €3.0 million for the first six months of 2026 compared to €4.6 million for the same period in 2025. It mainly consisted of the Research Tax Credit, amounting to €2.5 million, compared with €4.4 million for the same period in 2025.

As of June 30, 2026, Transgene had €92.8 million in cash, cash equivalents and other current financial assets, compared to €111.9 million as of December 31, 2025.

Transgene’s cash burn³ amounted to €20.3 million in the first half of 2026 compared with €18.8 million for the same period in 2025.

Under current plans, the company has sufficient cash to ensure financial visibility until early 2028.

The half-year financial report is available on Transgene website.

The Board of Directors of Transgene met on September 24, 2026, and closed the financial statements for the six-month period ended June 30, 2026. The Statutory Auditors have conducted a limited review of the interim consolidated financial statements.

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Contacts

Transgene:
Media:	Investors & Analysts:
Caroline Tosch-Pourchot	Lucie Larguier
Corporate and Scientific Communications Manager	Chief Financial Officer (CFO)
+33 (0)3 68 33 27 38	+33 (0)3 88 27 91 00/21
communication@transgene.fr	investorrelations@transgene.fr
MEDiSTRAVA
Frazer Hall/Sylvie Berrebi
+ 44 (0)203 928 6900
transgene@medistrava.com

About Transgene
Transgene (Euronext: TNG) is a biotechnology company focused on designing and developing virus-based targeted immunotherapies and vaccines. The Company’s clinical-stage programs consist of a portfolio of viral vector-based immunotherapeutics. Transgene’s myvac® platform is designed to develop individualized neoantigen therapeutic vaccines (INTVs), with potential across multiple solid tumor types.
TG4050, the first INTV based on the myvac® platform is the Company’s lead asset, with demonstrated clinical proof of principle in the adjuvant treatment of head and neck cancer. TG4070, the second myvac®-based INTV introduces Transgene’s proprietary AI-driven neoantigen selection and scalable cell-line manufacturing capabilities and is in Phase 1 clinical development in combination with nivolumab in the adjuvant treatment of non-small cell lung cancer (NSCLC). The Company’s other viral vector-based assets include BT-001, an oncolytic virus based on the Invir.IO® viral backbone, which is in clinical development. Transgene also conducts innovative discovery and preclinical work, aimed at developing novel viral vector-based modalities.
With Transgene’s myvac® platform, therapeutic vaccination enters the field of precision medicine with an immunotherapy tailored to each individual patient. The myvac® approach enables the generation of virus-based immunotherapies encoding patient-specific neoantigens. Transgene has further expanded the platform’s capabilities with its own proprietary AI-driven neoantigen selection and scalable cell-line manufacturing.
Leveraging its MVA and cell-line manufacturing expertise, Transgene is developing TG-MVA™, a next-generation prophylactic vaccine candidate against mpox and smallpox designed to address key manufacturing and supply challenges.
With its proprietary Invir.IO® platform, Transgene is building on its viral vector engineering expertise to design a new generation of multifunctional oncolytic viruses.
Additional information about Transgene is available at: www.transgene.com
Follow us on social media: LinkedIn: @Transgene — X: @TransgeneSA — Bluesky: @Transgene

Disclaimer
This press release contains forward-looking statements, which are subject to numerous risks and uncertainties, which could cause actual results to differ materially from those anticipated. The occurrence of any of these risks could have a significant negative outcome for the Company’s activities, perspectives, financial situation, results, regulatory authorities’ agreement with development phases, and development. The Company’s ability to commercialize its products depends on but is not limited to the following factors: positive pre-clinical data may not be predictive of human clinical results, the success of clinical studies, the ability to obtain financing and/or partnerships for product manufacturing, development and commercialization, and marketing approval by government regulatory authorities. For a discussion of risks and uncertainties which could cause the Company’s actual results, financial condition, performance or achievements to differ from those contained in the forward-looking statements, please refer to the Risk Factors (“Facteurs de Risque”) section of the Universal Registration Document, available on the AMF website (http://www.amf-france.org) or on Transgene’s website (www.transgene.com). Forward-looking statements speak only as of the date on which they are made, and Transgene undertakes no obligation to update these forward-looking statements, even if new information becomes available in the future.

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¹ HNSCC: Head and Neck Squamous Cell Carcinoma

² NSCLC: Non-Small Cell Lung Cancer

³ Cash burn corresponds to the sum of net cash flows from operating, investing and financing activities, excluding proceeds from share issuances and excluding current account advance/other financial asset disposals related to the parent company. It does not include the effects of exchange rate fluctuations.

Attachment

• 20260924_HYR26_EN

RESULTS FOR THE FIRST SEMESTER OF FISCAL YEAR 2026

• Revenue up 4.5% to 84.5 M€
  • Proprietary products account for 37% of revenue
  • 46% of revenue generated outside France
• Free cash flow of €4 million after investments
• Net debt of €147.4 million, including the EB Development shareholder loan
• Acquisition of CareDx’s Lab Solutions business finalized on June 30, 2026

Paris, September 24, 2026 – 17h40 – Eurobio Scientific (FR0013240934, ALERS), a leading French group in in vitro medical diagnostics and life sciences, today presents its consolidated results as of June 30, 2026, prepared in accordance with French standards and approved by the company’s Board of Directors at its meeting on September 24, 2026.

Eurobio Scientific’s results as of June 30, 2026 show growth in business activity. Revenue reached €84.5 million, up 4.5%, driven by recent acquisitions and growth in proprietary products. EBITDA stood at €15.8 million, and net income reached €4.7 million, compared to €2.4 million in the first half of 2025.

In €m	June 30, 2026	June 30, 2025		Change
Revenue	84.5	80.8		+5%
Cost of goods sold	(44.4)	(42.9)		+3%
Gross margin	40.1	37.8		+6%
Gross margin rate	47.5%	47.3%		+0.2 pt
Sales and Marketing expenses	(16.6)	(18.1)		-8%
General and administrative expenses	(8.4)	(7.7)		+9%
Other operating income and expenses	(4.8)	(4.3)		+12%
Of which Research and Development expenses	(2.4)	(2.2)		+9%
Amortization of goodwill	(1.9)	(1.9)		–
Operating income	8.5	5.8		+45%
Amortization of intangible assets arising from the PPA	(2.4)	(2.6)		–
Amortization of other intangible assets	(3.2)	(2.9)
EBITDA	15.8	13.2		+20%
Net financial income	(1.2)	(2.1)		-43%
Net exceptional income	–	–		–
Taxes	(2.5)	(1.4)		+76%
Net income	4.7	2.4		+96%
	June 30, 2026	Dec. 31, 2025
Cash	26.3	20.7
Financial debt excluding finance leases	(9.0)	(10.1)
EB Development current account	(164.7)	(12.4)
Shareholders’ equity	191.4	183.9

Business Performance

Eurobio Scientific reported revenue of €84.5 million for the first half of 2026, compared to €80.8 million in the first half of 2025, representing an increase of €3.6 million (+4.5%).

On a comparable pro forma basis—that is, excluding the impact of changes in scope resulting from acquisitions—revenue remained stable.

The impact of changes in scope primarily relates to the inclusion of the acquisition in Italy of the Life Sciences unit of Voden Medical Instruments Spa, which generated revenue of €3.8 million during the period.

Revenue from proprietary products totaled €31.3 million as of June 30, 2026, up 10% compared to the first half of 2025. Excluding the impact of changes in the scope of consolidation, growth stood at 7%. Proprietary products account for approximately 37% of the Group’s revenue, up one percentage point, thanks in particular to GenDx’s contribution in the field of transplantation and the product lines in infectious diseases and quality control. Revenue from distributed products reached €53.2 million, up 2%. Excluding changes in scope, it declined by 5%, primarily due to the end of tenders awarded to Eurobio Scientific for One Lambda products.

Internationally, revenue generated in Europe (excluding France), the United States, and Australia totaled €39.1 million, representing 46% of the Group’s revenue, compared to €32.8 million and 41% in the first half of 2025.

Information on Seegene

Eurobio Scientific reminds that it has been in partnership with the South Korean company Seegene since 2011 under a distribution agreement that generated approximately €48 million in revenue for fiscal year 2025 and €25.6 million as of June 30, 2026, representing a 12% increase compared to the first half of 2025.

As previously indicated, Seegene has expressed its desire to enter the French market directly effective January 1, 2027. The distribution agreement provides for Eurobio Scientific, with Seegene’s consent, to fulfill its private commercial contracts entered into prior to the distribution agreement’s expiration date for a maximum period of 3 years, as well as its public contracts for the duration of the awarded tenders.

The parties are continuing discussions to define the terms of this transition in accordance with the contractual provisions and applicable regulations. Eurobio Scientific reaffirms its strong commitment to continuing to serve its customers with high-quality products and services.

Changes in Operating Income and Net Income

The gross margin rate stood at 47.5%, up slightly from the first half of 2025 (47.3%), primarily due to the increase in the share of proprietary products in the revenue mix.

Operating expenses totaled €29.7 million, down €0.4 million compared to the first half of 2025 (-1.3%), and represented 35.1% of revenue, compared to 37.2% a year earlier.

Research and Development expenses totaled €2.4 million, compared to €2.2 million.

Marketing and sales expenses decreased by €1.6 million to €16.5 million, primarily due to the reorganization of the EndoPredict® and Prolaris® oncology sales activities that took place in the first half of 2025.

General and administrative expenses totaled €8.4 million, compared to €7.7 million.

Consequently, as of June 30, 2026, EBITDA reached €15.8 million, compared to €13.2 million as of June 30, 2025. Operating income after amortization and impairment of goodwill amounted to €8.5 million, compared to €5.8 million as of June 30, 2025.

Net financial income was negative at -€1.2 million, compared to -€2.1 million in the first half of 2025, primarily due to interest payments on the financial debt owed to EB Development. Extraordinary income was zero due to changes in accounting standards.

Net income thus totaled €4.7 million as of June 30, 2026, compared to €2.4 million as of June 30, 2025.

Free cash-flow of €4.0 million

The Group generated net operating cash flow of €7.5 million for the half-year, compared with €5.4 million in the first half of 2025. After €3.5 million in capital expenditures net of disposals, free cash flow before acquisitions amounted to approximately €4.0 million. The change in working capital had a negative impact of €5.0 million.

As of the end of June 2026, Eurobio Scientific had gross cash of €26.3 million. Loans and financial debt totaled €15.0 million, including approximately €4.8 million in finance leases, resulting in positive net cash of €17.3 million, excluding financing received from EB Development, which is classified as other liabilities.

The funding received from EB Development totaled €164.7 million, including €154.4 million received in June 2026 to finance the acquisition of CareDx’s Lab Solutions business.

Acquisition of CareDx’s Lab Solutions Business

On June 30, 2026, Eurobio Scientific completed the acquisition of CareDx’s Lab Solutions business, comprising the operations, products, technologies, and related assets primarily dedicated to transplant diagnostics. The transaction notably includes the AlloSeq® portfolio, designed specifically for HLA typing and chimerism monitoring, the associated software solutions, the QTYPE® product line, and other laboratory diagnostic assets transferred as part of the transaction. The corresponding assets and liabilities have been consolidated into the financial statements as of June 30, 2026; the acquisition therefore did not contribute to revenue or earnings for the first half of 2026.

Outlook and Proposed Public Tender Offer

Eurobio Scientific has a policy of not disclosing targets for the current fiscal year. In the medium term, the Group is pursuing its strategic priorities: developing proprietary products, expanding internationally, and entering new markets. In particular, the acquisition of Lab Solutions from CareDx strengthens its international position in transplant diagnostics.

On September 16, 2026, EB Development, the majority shareholder of Eurobio Scientific, announced its intention to file a voluntary tender offer followed by a mandatory tender offer for the Eurobio Scientific shares it does not yet hold, at a proposed price of €25.30 per share. On May 19, 2025¹, EB Development had declared it individually exceeded the thresholds of 90% of the Company’s share capital and voting rights and held, directly and by assimilation, 90.01% of Eurobio Scientific’s share capital and theoretical voting rights. Following the cancellation of 180,592 treasury shares decided on September 16, 2026, EB Development now directly holds 9,075,433 shares, representing 90.14% of the share capital and voting rights.

Upon the recommendation of the ad hoc committee established by the Company’s Board of Directors and composed of a majority of independent directors in accordance with the provisions of Article 261-1 of the General Regulations of the Autorité des Marchés Financiers (the “AMF”), the Board of Directors ofEurobio Scientific has appointed Ledouble, represented by Mr. Olivier Cretté and Mr. Jonathan Nilly (64, rue de la Boétie, 75008 Paris), as the independent appraiser responsible for drafting a report including a fairness opinion on the financial terms of the offer.

The documentation relating to the public buyout offer will be submitted to the AMF for review, and the completion of the offer remains subject to the AMF’s determination of compliance following its review.

Following the closing of the Offer, EB Development will initiate a mandatory buyout procedure, as minority shareholders hold less than 10% of Eurobio Scientific’s capital and voting rights. Minority shareholders will receive compensation equal to the price of the public buyout offer as part of the mandatory buyout procedure.

Availability of the 2026 half-yearly financial report

Eurobio Scientific made available to the public and filed with the French Financial Markets Authority (AMF) on 24 September 2026 its half-year financial report as at 30 June 2026.

The half-year financial report can be found on the company’s website at: www.eurobio-scientific.com under the heading “investors” / “regulated information” / “half-year financial reports”.

Disclaimer :
This press release has been prepared for information purposes only. It does not constitute an offer to purchase or exchange, or a solicitation of an offer to sell or exchange securities of Eurobio Scientific S.A.. The dissemination, publication or distribution of this press release may be restricted by law in certain jurisdictions and, consequently, any person in possession of this press release located in such jurisdictions must inform themselves about and comply with applicable legal restrictions. Neither Eurobio Scientific S.A., nor EB Development, nor its respective shareholders, advisors, or representatives accept any responsibility for the use by any person of this press release or its content, or more generally relating to this press release.

About Eurobio Scientific Eurobio Scientific is a key player in the field of specialty in vitro diagnostics. It is involved from research to manufacturing and commercialization of diagnostic tests in the fields of transplantation, oncology, immunology and infectious diseases, and sells instruments and products for research laboratories, including biotechnology and pharmaceutical companies. Through many partnerships and a strong presence in hospitals, Eurobio Scientific has established its own distribution network and a portfolio of proprietary products in the molecular biology field. The Group has approximately 290 employees and four production units based in the Paris region, in Germany, in the Netherlands and in the United States, and several affiliates based in Milan in Italy, Dorking UK, Sissach Switzerland, Bünde Germany, Antwerp Belgium, and Utrecht in The Netherlands. Eurobio Scientific’s controlling shareholder is the holding company EB Development, acting in concert with funds managed by NextStage AM and IK Partners, as well as members of the Company’s Board of Directors and senior management. For more information, please visit: www.eurobio-scientific.com The company is publicly listed on the Euronext Growth market in Paris Euronext Growth BPI Innovation, PEA-PME 150 and Next Biotech indices, Euronext European Rising Tech label. Symbol: ALERS – ISIN Code: FR0013240934 – Reuters: ALERS.PA – Bloomberg: ALERS:FP

Contacts

Groupe Eurobio Scientific Denis Fortier, Chairman and CEO Olivier Bosc, Deputy CEO/ CFO Tel. +33(0) 1 69 79 64 80

Actus Mathieu Calleux Investors Relations Tel. +33(1) 53 65 68 68 – eurobio-scientific@actus.fr

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1 Threshold crossing declaration by the Offeror dated June 2, 2025 (D&I 225C0881).

Attachment

• 260924CP_Eurobio_Scientific_RS2026_EN

FORESIGHT ENTERPRISE VCT PLC
LEI: 213800MWJNR3WZZ3ZP42

24 SEPTEMBER 2026

UNAUDITED HALF-YEARLY FINANCIAL REPORT
FOR THE PERIOD ENDED 30 JUNE 2026

FINANCIAL HIGHLIGHTS

• The value of the investment portfolio increased by £3.5 million in the period to 30 June 2026. This was driven by £8.7 million of new and follow-on investments, partly offset by a £5.1 million fall in the valuation of investments and a £0.1 million loan repayment.
• NAV per share was 48.3p as at 30 June 2026, representing a fall in NAV Total Return of 3.0% during the period.
• Three new investments costing £6.0 million and four follow-on investments costing £2.7 million were made during the period.
• Post period end, an interim dividend of 2.5p per share was paid on 24 July 2026, returning £9.8 million to Shareholders.
• The offer for subscription launched on 6 January 2026 was closed to applications on 29 January 2026 and raised a total of £38.6 million after expenses.

CHAIR’S STATEMENT

The Company continues to show resilience in the context of mixed wider economic conditions. The first half of 2026 continued to be characterised by economic and geopolitical uncertainty. The UK economy made a relatively strong start to the year, with growth supported by services, manufacturing and construction activity, although business confidence remained sensitive to developments in global markets. Inflation eased during the period but remained above the Bank of England’s 2% target, while interest rates were maintained at levels that continued to weigh on borrowing costs for many businesses.

Against this backdrop, market sentiment continued to be influenced by international developments, including ongoing trade tensions and conflicts in Ukraine and the Middle East. These factors have contributed to a more cautious environment for investment and corporate activity. In addition, volatility in the valuations of listed technology companies, which serve as valuation benchmarks for certain investee companies, has contributed to fluctuations in the valuations of parts of the portfolio, reflecting evolving investor sentiment towards artificial intelligence. Despite these headwinds, the Company’s portfolio has remained resilient, with most portfolio companies continuing to perform well, notwithstanding specific challenges affecting a small number of investments. The portfolio is well diversified, both from a sector and business life-cycle perspective.

Further, the Company successfully raised £38.6 million net of expenses during the period and continued to deploy capital into attractive investment opportunities, making three new investments and four follow‑on investments.

I believe that the Manager’s experienced investment team and regional presence across the UK provide the Company with access to a diverse range of high-quality investment opportunities.

The Board remains confident in the Manager’s disciplined investment approach, with a continued focus on backing well‑researched businesses operating in sectors where attractive long-term growth prospects are supported by strong underlying fundamentals. This, together with the Manager’s hands-on approach to portfolio management and support to investee companies, gives the Board confidence about the Company’s potential for future performance.

Strategy
The Board believes that it is in the best interests of Shareholders to continue to pursue a strategy of:

• Growth in Net Asset Value Total Return above a 5% annual target while continuing to grow the Company’s assets
• Payment of annual dividends of at least 5% of the NAV per share based on the opening NAV per share of that financial year
• Implementation of a number of new and follow‑on investments every year, exceeding deployment requirements to maintain VCT status
• Maintaining a programme of regular share buybacks at a discount of 5%, subject to market conditions

Central to the Company being able to achieve these objectives is the ability of the Manager to source and complete attractive new qualifying investment opportunities and deliver strong exits.

Performance and portfolio activity
During the period, Net Asset Value per share fell by 3.0% from 49.8p as at 31 December 2025 to 48.3p as at 30 June 2026. With no dividends paid in the period, this was reflected in a NAV Total Return decline of 3.0% in the period. Whilst a decline is always disappointing, this is against a backdrop of continued difficult market conditions and the overall resilience of the portfolio is encouraging.

On 6 January 2026, the Company launched an offer for subscription to raise up to £40 million through the issue of new shares. The offer was closed to applications on 29 January 2026 having raised gross proceeds of £40.0 million, £38.6 million after expenses. We would like to thank those existing Shareholders who have supported the offer and welcome all new Shareholders to the Company. Following the period end, the Company announced its intention to launch a further offer for subscription later in the year.

During the period, the Manager completed three new investments and four follow-on investments costing £6.0 million and £2.7 million respectively. Details of each of these new and existing portfolio companies can be found in the Manager’s Review. The Board and the Manager are confident that a strong level of new and follow-on investments can be achieved this year, particularly with the increased investment activity noted above. Post period end, the Manager has completed two new and eight follow-on investments, deploying a further £3.0 million and £4.6 million respectively. The level of deployment in the year to date is encouraging, despite the difficult economic environment.

While no exits were completed during the period, this follows a number of significant realisations achieved over the past few years, which generated substantial proceeds and demonstrated the Company’s ability to deliver attractive returns from its portfolio. The Board and Manager remain focused on identifying opportunities to realise value from more mature investments when market conditions and company-specific circumstances are favourable.

The Manager continues to see a strong pipeline of potential investments sourced through its regional networks and well-developed relationships with advisers and the SME community; however, it is also focused on supporting the existing portfolio through the current economic climate.

Responsible investing
The analysis of environmental, social and governance (“ESG”) issues is embedded in the Manager’s investment process and, whilst the Company has no specific objective to invest in companies which have an ESG focus, these factors are more generally considered key in determining the quality of a business and its long-term success. Central to the Manager’s responsible investment approach are five ESG principles that are applied to evaluate investee companies acquired since May 2018, throughout the lifecycle of their investment, from their initial review and acquisition to their final sale. Every year, the portfolio companies are assessed and progress is measured against these principles. More detailed information about the process can be found on pages 23 and 24 in the Unaudited Half-Yearly Financial Report.

Dividends
An interim dividend of 2.5p per share was declared on 25 June 2026 based on an ex-dividend date of 2 July 2026 and a record date of 3 July 2026. The dividend was paid post period end on 24 July 2026, returning £9.8 million to Shareholders.

The Board and the Manager continue to hope that special dividends can be paid as and when particularly successful portfolio exits are made.

Buybacks
While no buybacks were completed in the period itself, 4,329,240 shares were bought back on 2 July 2026 at a discount of 5.0%. The Board continues to have an objective of maintaining buybacks at a discount of 5.0%, subject to market conditions.

Shareholder communication
We were delighted to hold the AGM on 11 June 2026. We hope many of you will be available to attend our next investor forum event which will be announced in due course. These events have proven very popular with our Shareholders in the past and provide the opportunity to learn first-hand about some of our investee companies from their founders and management.

Board composition
The Board continues to review its own performance and undertakes succession planning to maintain an appropriate level of independence, experience, diversity and skills in order to be in a position to discharge all its responsibilities.

As planned, Michael Gray stepped down as Chair and retired from the Board at the AGM on 11 June 2026, and I was appointed as Chair by the Board. On behalf of the Company, I would like to thank Mike for his stewardship of the Company and significant contribution to its strong performance over the past nine years.

Post period end, the Board was delighted to appoint James Barnes as a Non-Executive Director with effect from 1 August 2026.

Outlook
As I noted in my introduction, the first half of 2026 was characterised by a challenging economic and geopolitical backdrop. While inflationary pressures, slower economic growth and global uncertainty continue to influence markets, we remain focused on identifying and supporting high-quality businesses with attractive long-term growth prospects.

We continue to benefit from investing in growth companies that are often well positioned to adapt to changing market conditions. Supported by the Manager’s experience, extensive network and disciplined investment approach, these businesses are able to respond quickly to both opportunities and challenges as they arise.

Our portfolio remains well diversified and we are confident that the Manager’s detailed knowledge of the underlying investee companies, combined with a prudent and selective investment strategy, will help the Company navigate periods of market volatility while positioning the portfolio for long‑term value creation.

Kavita Patel
Chair
24 September 2026

MANAGER’S REVIEW

Portfolio summary
As at 30 June 2026, the Company’s portfolio comprised 52 investments with a total cost of £95.1 million and a valuation of £122.1 million. The portfolio is diversified by sector, transaction type and maturity profile. Details of the ten largest investments by valuation, including an update on their performance, are provided on pages 16 to 19 in the Unaudited Half-Yearly Financial Report.

During the six months ended 30 June 2026, the value of the investment portfolio increased by £3.5 million, largely as a result of £8.7 million of new and follow‑on investments. This was partially offset by a decrease of £5.1 million in the valuation of the investment portfolio, and a £0.1 million loan repayment.

In line with the Board’s strategic objectives, we remain focused on growing the Company through further development of Net Asset Value Total Return. For the six months ended 30 June 2026, Net Asset Value Total Return fell by 3.0% while net assets increased by 21.0% to £188.3 million, following the successful fundraise early in the year of £38.6 million net of expenses.

Overall, the portfolio has performed well despite ongoing uncertainty in the market, including fluctuations in technology valuations driven by changing sentiment towards artificial intelligence, and operational challenges affecting certain portfolio companies.

New investments
Three new investments of £6.0 million in aggregate were completed in the six months ended 30 June 2026. Follow-on investments totalling £2.7 million were also made into four existing investee companies. There is a strong pipeline of opportunities that we expect to convert during the second half of 2026.

SAMP Technology Holdings Limited
In February 2026, the Company completed a £2.0 million investment into SAMP Technology Holdings, a technical engineering consultancy with a bespoke asset performance management and risk analysis software platform. The platform enables customers to plan predictive and preventative maintenance events, reducing plant stoppages, extending useful lives of equipment and improving return on investment for the equity owners. The investment will help scale the business and aid in a software platform rollout.

Vestd Ltd
In May 2026, the Company completed a £1.5 million investment into Vestd, a proprietary software platform that enables businesses to establish, manage and report on equity incentive schemes. Founded in 2014, Vestd has developed a proprietary software platform that digitises and automates equity management, replacing manual processes with an integrated, compliant and auditable system. Vestd serves thousands of businesses, predominantly in the UK and India, and has established a strong reputation for ease of use, customer support and deep integrations. The investment will support the company’s next phase of growth, including expansion of its enterprise offering, international growth and the development of additional product functionality for private market participants.

Regenerus Limited
In June 2026, the Company completed a £2.5 million investment into Regenerus, a UK-based diagnostic testing company. Regenerus provides advanced diagnostic testing services designed to support personalised care and evidence-based clinical decision-making. The funding will support the expansion of the company’s diagnostic testing and digital platform capabilities, strengthen its laboratory network and accelerate commercial growth.

Follow-on investments
The Company made follow-on investments in four companies during the six months ended 30 June 2026, totalling £2.7 million. Further details of each of these are provided below.

The additional equity injections in the period will be used by the investee companies to support their further growth plans, such as launching new products and expansion of commercial capabilities. We continue to successfully navigate the volatility that has been felt across the markets over the course of the year and remain vigilant about the health of the portfolio and the need for follow-on funding during the second half of 2026. Given the size of the portfolio, further opportunities to deploy capital into growing existing investments are expected.

Resi Design Limited
In January 2026, the Company made a £0.7 million follow‑on investment into Resi Design, a technology-enabled architectural business that manages structural home improvement projects from concept through to planning, design, build and sign-off. This latest investment is expected to support the refreshed management team in implementing an improved business plan.

Evolve Dynamics Limited
In March 2026, the Company completed a £0.3 million follow-on investment into Evolve Dynamics (“Evolve”). This was followed by a further £0.2 million in June 2026. These investments will support the company’s working capital and research and development initiatives as the business continues to target both private and public sector contracts. Evolve develops and manufactures Unmanned Aircraft Systems and, since investment, it has developed and begun to commercialise two new systems.

Fourth Wall Creative Limited
In February 2026, the Company completed a £1.1 million follow‑on investment into Fourth Wall Creative to support the continued growth of the business. For further details on Fourth Wall Creative Limited, please see page 17 in the Unaudited Half-Yearly Financial Report.

Sprintroom Limited
In March 2026, the Company completed a £0.4 million follow‑on investment into Sprintroom, which trades as Sprint Electric. The business develops and produces drives used to control electric motors across both light and heavy industrial applications, while also enabling the recovery and reuse of energy that would otherwise be wasted. The investment will support ongoing revenue growth and the development of additional iterations within the new product range.

Post period end activity
After the period end, the Company completed eight follow-on investments totalling £4.6 million into Loopr Ltd, EnterpriseJungle, Inc, Live Group Holdings Limited, Strategic Software Applications Ltd, Ad Signal Limited, Sprintroom Limited, Red Flag Alert Technology Group Limited and Aircards Ltd. The Company also completed two new investments totalling £3.0 million into Ekkosense Ltd and Round Group Limited.

Realisations
No exits were completed during the period, following some years of significant realisations. The Company did, however, receive a £0.1 million loan repayment from Positive Response Corporation Ltd. While M&A activity continues to be influenced by prevailing macroeconomic conditions and geopolitical uncertainty, levels of engagement from both private equity and trade buyers remain encouraging and transaction activity has shown signs of improvement. We continue to work closely with the management teams of portfolio companies to maximise value and are actively assessing potential exit opportunities across a number of investments. We remain focused on achieving attractive realisations at the appropriate time and valuation for Shareholders.

Realisations in the period ended 30 June 2026

Company	Detail	Accounting cost at date of disposal (£)	Exit proceeds excluding deferred consideration1 (£)	Realised gain/(loss) (£)	Valuation at 31 December 2025 (£)
Positive Response Corporation Ltd	Loan repayment	125,000	125,000	—	125,000
		125,000	125,000	—	125,000

1. Proceeds on exit excluding interest, dividends and exit fees where applicable.

Pipeline
As at 30 June 2026, the Company had cash reserves of £64.7 million, which will be used to fund new and follow‑on investments, buybacks, dividends and corporate expenditure. We are seeing a strong pipeline of new opportunities, with several opportunities in due diligence or in exclusivity.

The global economic and geopolitical environment remains volatile and uncertain, both through the tariffs instigated by the US and ongoing conflicts in Europe and the Middle East. Markets are, however, showing strong resilience in the face of these challenges, with many indices performing well in the year to date overall.

Against this unsettled backdrop, the UK economy is performing reasonably well, with interest rates remaining steady and a strong performance by the FTSE.

With a broad network of deal introducers across the UK and internationally, and through its growing network of regional offices, we continue to see a large volume of attractive investment opportunities. This is not expected to change in the medium term. We continue to pursue a balanced strategy, targeting companies from a range of sectors and at different stages of maturity to combat market volatility.

Key portfolio developments
Material changes in valuation, defined as increasing or decreasing by £1.0 million or more since 31 December 2025, are detailed below. Updates on these companies are included on page 11 in the Unaudited Half-Yearly Financial Report.

Key valuation changes in the period

Company	Valuation methodology	Net movement (£)
Aerospace Tooling Corporation Limited	Discounted offer	1,376,341
Steamforged Holdings Limited	Discounted revenue multiple	(1,086,906)
Ten Health Holdings Limited	Discounted revenue multiple	(2,237,198)

Outlook
The first half of 2026 has continued to be characterised by uncertainty across global markets. While equity markets recovered from the volatility experienced earlier in the year, investor sentiment has remained sensitive to developments in international trade policy, geopolitical tensions and broader macroeconomic conditions. In particular, technology valuations have experienced periods of volatility as sentiment towards artificial intelligence has evolved. Domestically, these dynamics have been exacerbated by political uncertainty, including the recent change in UK political leadership and cost-of-living concerns. Looking ahead, investors will continue to monitor the developing policy agenda of the new government and the implications of the forthcoming Autumn Budget. Although markets have proved resilient, the longer-term economic effects of these developments remain unclear and may continue to contribute to periods of volatility. This volatility is reflected in the valuation multiples used to value portfolio companies, which are derived from the market valuations of comparable quoted companies. These multiples fell by 5.5% between December 2025 and March 2026 before recovering by 4.8% between March and June 2026.

Against this uncertain backdrop, the Company has continued to demonstrate resilience. While NAV Total Return fell 3.0% in the six months ended 30 June 2026, longer-term performance remains positive, with a NAV Total Return of 9.8% over three years and 25.7% over five years. The Company maintains a balanced portfolio across different sectors and stages of the business lifecycle, which should stand it in good stead to face the volatility ahead. Our hands-on approach to challenges and exit planning continues to add value to portfolio companies.

Looking to the remainder of 2026 and beyond, it would be reasonable to expect further volatility given the geopolitical and economic environment. However, there have been encouraging signs of increased market and transaction activity, which provide grounds for cautious optimism. The UK remains an attractive location in which to start, grow and scale innovative businesses, supported by a strong entrepreneurial culture, world-class universities and access to experienced management talent.

The Company has completed another highly successful fundraise, thanks to the strong track record delivered over a number of years, and post period end the Board announced its intention to launch a further offer for subscription later in the year. The Company continues to deploy into high potential new investments, and a growing portfolio of assets at varying stages of the lifecycle. The portfolio remains diversified across sectors, with a mix of higher-growth and cash-generative business, and has proven to be resilient over many years and through various cycles and economic shocks. Nonetheless, certain portfolio companies face particular challenges, offset by others which are seeing strong growth in their markets. The Company remains one of the premier players in the VCT market, an important source of capital for UK entrepreneurs.

James Livingston
Foresight Group LLP
Co-Head of Private Equity

24 September 2026

UNAUDITED HALF-YEARLY RESULTS AND RESPONSIBILITIES STATEMENTS

Principal risks and uncertainties
The principal risks faced by the Company are as follows:

• Market risk
• Strategic and performance risk
• Internal control risk
• Legislative and regulatory risk
• VCT qualifying status risk
• Investment valuation and liquidity risk

The Board reported on the principal risks and uncertainties faced by the Company in the Annual Report and Accounts for the year ended 31 December 2025. A detailed explanation can be found on pages 56 to 60 of the Annual Report and Accounts, which is available on Foresight Enterprise VCT’s website www.foresightenterprisevct.com or by writing to Foresight Group LLP at The Shard, 32 London Bridge Street, London SE1 9SG.

In the view of the Board, there have been no changes to the fundamental nature of these risks since the previous Annual Report and Accounts. The emerging risks identified in the previous report included those of geopolitical risk, cyber security, artificial intelligence, potential economic instability and the risk of a global pandemic. These emerging risks continue to apply and be monitored. The Board and the Manager continue to follow all emerging risks closely with a view to identifying where changes affect the areas of the market in which portfolio companies operate. This enables the Manager to work closely with portfolio companies, preparing them so far as possible to ensure they are well positioned to endure potential volatility.

Directors’ responsibility statement
The Disclosure and Transparency Rules (“DTR”) of the UK Listing Authority require the Directors to confirm their responsibilities in relation to the preparation and publication of the Half-Yearly Financial Report.

The Directors confirm to the best of their knowledge that:

a)   The summarised set of financial statements has been prepared in accordance with FRS 104
b)   The Half-Yearly Financial Report includes a fair review of the information required by DTR 4.2.7R (indication of important events during the first six months and description of principal risks and uncertainties for the remaining six months of the year)
c)   The summarised set of financial statements gives a true and fair view of the assets, liabilities, financial position and profit or loss of the Company as required by DTR 4.2.4R
d)   The Half-Yearly Financial Report includes a fair review of the information required by DTR 4.2.8R (disclosure of related parties’ transactions and changes therein)

Going concern
The Company’s business activities, together with the factors likely to affect its future development, performance and position, are set out in the Strategic Report of the Annual Report. The financial position of the Company, its cash flows, liquidity position and borrowing facilities are described in the Chair’s Statement, Strategic Report and Notes to the Accounts of the 31 December 2025 Annual Report.

In addition, the Annual Report includes the Company’s objectives, policies and processes for managing its capital; its financial risk management objectives; details of its financial instruments; and its exposures to credit risk and liquidity risk.

The Company has considerable financial resources together with investments and income generated therefrom across a variety of industries and sectors. As a consequence, the Directors believe that the Company is well placed to manage its business risks successfully.

The Directors have a reasonable expectation that the Company has adequate resources to continue in operational existence for the foreseeable future. Thus, they continue to adopt the going concern basis of accounting in preparing the annual financial statements.

The Half-Yearly Financial Report has not been audited nor reviewed by the auditors.

On behalf of the Board

Kavita Patel
Chair

24 September 2026

UNAUDITED STATEMENT OF COMPREHENSIVE INCOME
For the six months ended 30 June 2026

	Six months ended 30 June 2026 (Unaudited)			Six months ended 30 June 2025 (Unaudited)			Year ended 31 December 2025 (Audited)
	Revenue £’000	Capital £’000	Total £’000	Revenue £’000	Capital £’000	Total £’000	Revenue £’000	Capital £’000	Total £’000
(Losses)/gains on investments	—	(5,031)	(5,031)	—	919	919	—	4,675	4,675
Income	1,466	—	1,466	2,078	—	2,078	3,237	—	3,237
Investment management fees	(468)	(1,403)	(1,871)	(454)	(1,681)	(2,135)	(799)	(2,715)	(3,514)
Other expenses	(408)	—	(408)	(367)	—	(367)	(788)	—	(788)
Return/(loss) on ordinary activities before taxation	590	(6,434)	(5,844)	1,257	(762)	495	1,650	1,960	3,610
Taxation	(148)	148	—	(307)	307	—	(405)	405	—
Return/(loss) on ordinary activities after taxation	442	(6,286)	(5,844)	950	(455)	495	1,245	2,365	3,610
Return/(loss) per share	0.1p	(1.7p)	(1.6p)	0.3p	(0.1p)	0.2p	0.4p	0.7p	1.1p

The total columns of this statement are the profit and loss account of the Company and the revenue and capital columns represent supplementary information.

All revenue and capital items in the above Statement of Comprehensive Income are derived from continuing operations. No operations were acquired or discontinued in the period.

The Company has no recognised gains or losses other than those shown above, therefore no separate statement of total recognised gains and losses has been presented.

The Company has only one class of business and one reportable segment, the results of which are set out in the Statement of Comprehensive Income and Balance Sheet.

There are no potentially dilutive capital instruments in issue and, therefore, no diluted earnings per share figures are relevant. The basic and diluted earnings per share are, therefore, identical.

UNAUDITED RECONCILIATION OF MOVEMENTS IN SHAREHOLDERS’ FUNDS
For the six months ended 30 June 2026

	Called-up share capital £’000	Share premium account £’000	Capital redemption reserve £’000	Distributable reserve1 £’000	Capital reserve1 £’000	Revaluation reserve £’000	Total £’000
As at 1 January 2026	3,124	44,547	255	76,730	(3,127)	34,085	155,614
Share issues in the period	778	39,202	—	—	—	—	39,980
Expenses in relation to share issues2	—	(1,429)	—	—	—	—	(1,429)
Realised gains on disposal of investments	—	—	—	—	746	—	746
Investment holding losses	—	—	—	—	—	(5,777)	(5,777)
Management fees charged to capital	—	—	—	—	(1,403)	—	(1,403)
Revenue return for the period before taxation	—	—	—	590	—	—	590
Taxation for the period	—	—	—	(148)	148	—	—
As at 30 June 2026	3,902	82,320	255	77,172	(3,636)	28,308	188,321

1. Distributable reserve accounts as at 30 June 2026 total £73,536,000 (31 December 2025: £73,603,000). Share premium cancelled in prior years included amounts arising on share allotments less than three years old, which are protected capital under VCT legislation. Amounts available for distribution as at 30 June 2026 are therefore £38,832,000 (31 December 2025: £38,899,000). The remaining cancelled share premium will become distributable under VCT regulations on the third anniversary of the share allotment on which it arose.
2. Includes trail commission for prior years’ fundraising.

UNAUDITED BALANCE SHEET
As at 30 June 2026

Registered number: 03506579	As at 30 June 2026 (Unaudited) £’000	As at 30 June 2025 (Unaudited) £’000	As at 31 December 2025 (Audited) £’000
Fixed assets
Investments held at fair value through profit or loss	122,097	107,677	118,632
Current assets
Debtors	1,677	2,707	2,351
Cash and cash equivalents	64,717	52,642	34,806
Total current assets	66,394	55,349	37,157
Creditors
Amounts falling due within one year	(170)	(891)	(175)
Net current assets	66,224	54,458	36,982
Total assets less current liabilities	188,321	162,135	155,614
Net assets	188,321	162,135	155,614
Capital and reserves
Called-up share capital	3,902	3,144	3,124
Share premium account	82,320	43,363	44,547
Capital redemption reserve	255	211	255
Distributable reserve	77,172	87,279	76,730
Capital reserve	(3,636)	(1,506)	(3,127)
Revaluation reserve	28,308	29,644	34,085
Equity Shareholders’ funds	188,321	162,135	155,614
Net Asset Value per share	48.3p	51.6p	49.8p

UNAUDITED CASH FLOW STATEMENT
For the six months ended 30 June 2026

	Six months ended 30 June 2026 (Unaudited) £’000	Six months ended 30 June 2025 (Unaudited) £’000	Year ended 31 December 2025 (Audited) £’000
Cash flow from operating activities
Loan interest received from investments	500	663	1,322
Dividends received from investments	—	31	31
Deposit and similar interest received	962	1,190	1,894
Investment management fees paid	(1,871)	(2,702)	(3,514)
Performance incentive fee paid	—	—	(318)
Secretarial fees paid	(109)	(159)	(215)
Other cash payments	(288)	(356)	(628)
Net cash outflow from operating activities	(806)	(1,333)	(1,428)
Cash flow from investing activities
Purchase of investments	(8,698)	(6,307)	(13,967)
Proceeds on sale of investments	125	8,888	8,888
Proceeds on deferred consideration	746	1,361	1,366
Net cash (outflow)/inflow from investing activities	(7,827)	3,942	(3,713)
Cash flow from financing activities
Proceeds of fundraising	39,377	9,811	9,811
Expenses of fundraising	(828)	(285)	(296)
Repurchase of own shares	(5)	(1,845)	(4,338)
Equity dividends paid	—	(8,507)	(16,089)
Net cash inflow/(outflow) from financing activities	38,544	(826)	(10,912)
Net inflow/(outflow) of cash in the period	29,911	1,783	(16,053)
Reconciliation of net cash flow to movement in net funds
Increase/(decrease) in cash and cash equivalents for the period	29,911	1,783	(16,053)
Net cash and cash equivalents at start of period	34,806	50,859	50,859
Net cash and cash equivalents at end of period	64,717	52,642	34,806

NOTES TO THE UNAUDITED HALF-YEARLY RESULTS
For the six months ended 30 June 2026

1
The Unaudited Half-Yearly Financial Report has been prepared on the basis of the accounting policies set out in the statutory accounts of the Company for the year ended 31 December 2025. Unquoted investments have been valued in accordance with IPEV Valuation Guidelines.

2
These are not statutory accounts in accordance with s.436 of the Companies Act 2006 and the financial information for the six months ended 30 June 2026 and 30 June 2025 has been neither audited nor formally reviewed. Statutory accounts in respect of the year ended 31 December 2025 have been audited and reported on by the Company’s auditors and delivered to the Registrar of Companies and included the report of the auditors which was unqualified and did not contain a statement under s.498(2) or s.498(3) of the Companies Act 2006. No statutory accounts in respect of any period after 31 December 2025 have been reported on by the Company’s auditors or delivered to the Registrar of Companies.

3
Copies of the Unaudited Half-Yearly Financial Report will be sent to Shareholders via their chosen method and will be available for inspection at the Registered Office of the Company at The Shard, 32 London Bridge Street, London SE1 9SG.

4 Net Asset Value per share
The Net Asset Value per share is based on net assets at the end of the period and on the number of shares in issue at the date.

	Net assets	Number of shares in issue
30 June 2026	£188,321,000	390,168,331
30 June 2025	£162,135,000	314,372,565
31 December 2025	£155,614,000	312,434,761

5 Return per share
The weighted average number of shares used to calculate the respective returns are shown in the table below.

	Number of shares in issue
Six months ended 30 June 2026	374,493,210
Six months ended 30 June 2025	314,923,965
Year ended 31 December 2025	315,236,047

Earnings for the period should not be taken as a guide to the results for the full year.

6 Income

	Six months ended 30 June 2026 £’000	Six months ended 30 June 2025 £’000	Year ended 31 December 2025 £’000
Deposit and similar interest received	962	1,190	1,894
Loan stock interest	504	857	1,312
Dividends receivable	—	31	31
	1,466	2,078	3,237

7 Investments at fair value through profit or loss

	£’000
Book cost as at 1 January 2026	86,501
Investment holding gains	32,131
Valuation as at 1 January 2026	118,632
Movements in the period:
Purchases	8,698
Disposal proceeds1	(125)
Realised gains	­—
Investment holding losses	(5,108)
Valuation as at 30 June 2026	122,097
Book cost as at 30 June 2026	95,074
Investment holding gains	27,023
Valuation as at 30 June 2026	122,097

1. The Company received £125,000 from the repayment of a loan during the period. The book cost of this loan was £125,000.

Reconciliation of realised gains and investment holding losses to the Statement of Comprehensive Income:

	Six months ended 30 June 2026 £’000	Six months ended 30 June 2025 £’000	Year ended 31 December 2025 £’000
Realised gains	—	5,338	4,648
Investment holding losses	(5,108)	(4,190)	(205)
Deferred consideration receipts	746	1,361	1,366
Deferred consideration debtor movement	(669)	(1,590)	(1,134)
(Losses)/gains on investments per the Statement of Comprehensive Income	(5,031)	919	4,675

Breakdown of deferred consideration movements in the six months ended 30 June 2026:

	Deferred consideration receipts £’000	Deferred consideration debtor movements £’000
Specac International Limited	449	(428)
Callen-Lenz Associates Limited	297	(241)
	746	(669)

8 Performance incentive fee
In order to incentivise the Manager to generate enhanced returns for Shareholders, the Manager is entitled to a performance incentive fee, designated a share-based payment due to its nature. This fee is equal to 15% of dividends paid to Shareholders, subject to the total return (Net Asset Value plus cumulative dividends paid per share on or after 11 January 2011) exceeding 100p (“High Watermark”), both immediately before and after the performance incentive fee is paid. After each distribution is made to Shareholders where a performance incentive is paid, the High Watermark required to be achieved to trigger a further performance incentive fee will be amended to take account of the dividend paid.

The High Watermark at 30 June 2026 was 117.4p and the total return was 117.2p. As a result of the total return being below the High Watermark and no dividend having been paid in the period, no performance incentive fee was accrued during the period (31 December 2025: £nil).

9 Transactions with the Manager
Foresight Group LLP advises the Company on investments under an agreement dated 30 July 2004. During the period, Foresight Group LLP earned fees of £1,871,000 (30 June 2025: £1,817,000; 31 December 2025: £3,196,000). No performance incentive fee was paid in the period (30 June 2025: £nil; 31 December 2025: £318,000) and no additional provision was recognised as at the period end (30 June 2025: £318,000; 31 December 2025: £nil).

Foresight Group LLP is the Company Secretary and received accounting and company secretarial services fees of £109,000 during the period (30 June 2025: £104,000; 31 December 2025: £215,000).

Foresight Group LLP also received from investee companies arrangement fees of £206,000 (30 June 2025: £190,000; 31 December 2025: £420,000) and directors’ fees of £477,000 (30 June 2025: £431,000; 31 December 2025: £857,000). Arrangement fees cover the cost of each deal process, including conducting due diligence and negotiating with management and shareholders, and directors’ fees cover the cost of Foresight employees acting as directors on the Boards of each investee company. Foresight Promoter LLP, a related party to the Manager, earned fees of £821,000 (30 June 2025: £197,000; 31 December 2025: £197,000) in respect of costs incurred related to share allotments in the period.

At 30 June 2026, the amount due from Foresight Group LLP was £nil (30 June 2025: £nil; 31 December 2025: £284,000).

In accordance with UK Listing Rules 11.4.1R, 6.4.1R and 6.4.3R, a copy of the Half-Yearly Report and Accounts will be submitted to the Financial Conduct Authority via the National Storage Mechanism.

END

Separate 6 GWh expansion planned by year-end 2026 would more than double the existing Nanjing facility’s annual cell capacity

DALIAN, China, Sept. 24, 2026 (GLOBE NEWSWIRE) — CBAK Energy Technology Limited (NASDAQ: CBAT) (“CBAK Energy” or the “Company”), a China-based lithium-ion battery manufacturer and energy solutions provider, today announced that it has signed an investment agreement with the Nanjing Gaochun Economic Development Zone for the research, development and manufacture of large cylindrical sodium-ion battery cells and integrated battery systems in Nanjing, Jiangsu Province. The project would add 12 gigawatt-hours (“GWh”) of annual cell production capacity, advancing the Company’s previously announced sodium-ion expansion plan.

CBAK Energy advances its sodium-ion expansion with a planned 12 GWh project in Nanjing.

Separately, CBAK Energy targets an additional 6 GWh of annual cell capacity at its existing Nanjing facility by year-end 2026. The Company plans to advance the 12 GWh project in the second half of 2027, subject to securing financing.

6 GWh Expansion at the Existing Nanjing Facility

To meet strong demand for Model 60150 large cylindrical cells, CBAK Energy plans to expand its existing Nanjing facility in the second half of 2026. The facility currently has 4.5 GWh of annual Model 32140 cell capacity. The additional 6 GWh would bring its total annual cell capacity to 10.5 GWh.

At full capacity with all output sold, the additional 6 GWh could generate an estimated RMB2.4 billion to RMB2.7 billion (approximately US$356 million to US$400 million) in annual revenue.

The Company is considering two Model 60150 production lines for the expansion. Given strong demand for Model 32140 cells, it may instead install one Model 32140 line and one Model 60150 line. The cell models and production-line configuration may be adjusted as market conditions and customer demand evolve.

12 GWh Project to Support Sodium-Ion and Lithium-Ion Production

The production lines will be designed to manufacture large cylindrical sodium-ion or lithium-ion cells. The Company will determine which chemistry to produce based on market conditions and customer demand. At current lithium-ion cell market prices, the Company estimates that the 12 GWh project could generate an additional RMB4.8 billion to RMB5.0 billion (approximately US$712 million to US$741 million) in annual revenue at full capacity with all output sold.

The project would cover cell manufacturing as well as module and battery pack integration. Development would proceed in phases based on financing, customer demand and project readiness.

“The 6 GWh expansion would more than double annual cell capacity at our existing Nanjing facility and help us meet strong demand for large cylindrical cells,” said Zhiguang Hu, Chief Executive Officer of CBAK Energy. “The 12 GWh investment agreement advances our plans for sodium-ion production. Designing the lines to produce lithium-ion cells as well would give us more options to serve customers as demand develops in both markets. We plan to develop the project in phases, with investment guided by financing availability and customer demand.”

About CBAK Energy

CBAK Energy Technology Limited (NASDAQ: CBAT) is a China-based company that develops, manufactures and sells high-power lithium-ion and sodium-ion batteries, as well as materials used in high-power lithium-ion batteries. It has battery cell production, research and development, and sales operations in Nanjing, Dalian and Shangqiu, with research and development centers in Nanjing and Dalian. Its raw materials business is based in Shaoxing. The Company’s products serve electric vehicles, light electric vehicles, energy storage systems and other high-power applications. In January 2006, CBAK Energy became the first Chinese lithium battery manufacturer to be listed on the Nasdaq Stock Market.

Forward-Looking Statements

This press release contains forward-looking statements within the meaning of the safe harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995.

These statements include expectations about the planned 12 GWh large cylindrical battery cell and integrated battery systems project; phased development and plans to advance the project in the second half of 2027, subject to financing; the ability of the planned lines to produce sodium-ion or lithium-ion cells and the choice of chemistry based on market conditions; qualification and commercial adoption; the separate 6 GWh Nanjing expansion and targeted increase in annual capacity at the existing facility to 10.5 GWh by year-end 2026; future demand for Model 60150 and Model 32140 cells, potential production-line configurations and changes in cell models; estimated additional annual revenue from each project; and the Company’s growth prospects.

Words such as “expect,” “estimate,” “anticipate,” “believe,” “intend,” “plan,” “target,” “may,” “will,” “would” and “could,” and similar expressions, identify forward-looking statements. These statements are based on current expectations and assumptions and involve risks and uncertainties that could cause actual results to differ materially.

Risks include changes in customer demand, product requirements, market prices and order volumes; the timing and outcome of customer testing and qualification and whether they lead to commercial orders; the availability, timing and cost of financing; the availability and cost of raw materials, production equipment and other inputs; technology development and market acceptance of sodium-ion batteries; delays in construction, equipment installation, commissioning or production ramp-up; manufacturing yields, capacity utilization, product quality and operating efficiency; the ability of the planned lines to support both sodium-ion and lithium-ion production; changes in cell models, production-line configuration and the choice of chemistry; regulatory, environmental and other required approvals; foreign exchange fluctuations; competing battery technologies; and other risks described in the Company’s reports filed with or furnished to the U.S. Securities and Exchange Commission.

The revenue estimates assume a full year of operation at full capacity with all output sold and are not guidance for a particular reporting period. The 12 GWh estimate uses current lithium-ion cell market prices as a benchmark. Neither estimate represents contracted sales. Actual revenue will depend on project completion, customer qualification, product mix, market pricing, utilization, manufacturing yields and sales, and may differ materially from these estimates.

Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this press release. Except as required by applicable law, the Company undertakes no obligation to update or revise any forward-looking statements as a result of new information, future events or otherwise.

For more information, please visit: https://en.cbak.com.cn/
Email: marketing@cbak.com.cn
LinkedIn: https://www.linkedin.com/company/cbakenergy
X: https://x.com/CBAKEnergy
Stocktwits: https://stocktwits.com/CBAK_Energy

Investor Relations
Email: ir@cbak.com.cn
Website: https://ir.cbak.com.cn/

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/7ce102ff-f2b3-41b2-934c-7dbefdafb72d

LindellTV and Real America’s Voice step in to ensure continuous coverage from the White House and Joint Base Andrews during President Xi’s arrival.

Washington, D.C. , Sept. 24, 2026 (GLOBE NEWSWIRE) — (MLMC) Mike Lindell Media Corp., LindellTV, and Real America’s Voice provided coordinated, on‑site media coverage from both the White House and Joint Base Andrews, ensuring continuous reporting during President Xi’s arrival and related official activity. With major legacy networks declining pool participation, including CNN, MS NOW, and Politico, who alleged they were banned from the White House, it was LindellTV and Real America’s Voice who stepped forward to ensure that journalists and the public received real‑time access to the day’s events. 

Real America’s Voice and LindellTV deployed broadcast teams to both locations, capturing the diplomatic arrival at Joint Base Andrews as well as activity at the White House on Wednesday. Their joint-coverage ensured uninterrupted reporting during a moment of heightened international attention, but more importantly, filled a void in reporting.

“Today demonstrated why independent networks matter,” said Mike Lindell, Chairman and Chief Executive Officer at Mike Lindell Media Corp. “When legacy news outlets step back, LindellTV and Real America’s Voice step forward and are up to the challenge. Our teams were on the ground, delivering the coverage Americans expect and deserve.” 

Chief White House Correspondent, Cara Castronuova said, “LindellTV agrees with Real America’s Voice that it is best for alternative media to come together at a crucial time like this to document historical White House Events. LindellTV was happy to work with the great people at Real America’s Voice in bringing the best pool coverage to the world, and showing that alternative media can step up to the plate for the American people.” 

The combined presence of Real America’s Voice and LindellTV filled a large gap in the press pool, providing footage, commentary, and updates to media partners and audiences nationwide and worldwide. Both outlets reaffirmed their commitment to maintaining consistent access and transparency during major national and international events.

The (AP) Associated Press reportedly indicated that no U.S. Network pool coverage is expected today due to on-going restrictions imposed by the White House, and will be outside the White House and other areas providing security visuals and possible motorcade activity.

Earlier this week, CNN, MS NOW, and Politico were denied entry to the White House press area, prompting multiple other networks to suspend press pool duties. Real America’s Voice and LindellTV stepped in to maintain on‑site reporting during the gap in coverage. President Trump has stated that media outlets must meet the administration’s expectations for responsible reporting. The White House reiterated that coverage would continue through any media outlet willing to operate within those guidelines.

As of today at 10:00am EDT, neither CNN, MS NOW, nor Politico had gained entrance to the White House but according to LindellTV, other legacy media and a large contingent of foreign reporters were in the building. 

ABOUT MIKE LINDELL MEDIA CORP. 

Mike Lindell Media Corp., operates a conservative broadcast network that seeks to provide a conservative alternative to mainstream media outlets through its platforms at LindellTV.com (launched as frankspeech.com in April 2021 and rebranded as LindellTV in February 2025) and VOCL.com (launched as FrankSocial in April 2022 and rebranded as VOCL in September 2024) (collectively, the “Platforms”). The Company states that it has grown to serve over 7 million monthly viewers on its Platforms. The Company strives to provide accurate, unbiased, and timely reporting. The Company has full access for its reporters to White House press conferences under the Trump administration, Capitol Hill, and the Pentagon. The Company expects to report primarily from Washington, D.C., inside and outside the White House, including Capitol Hill, covering United States and world events including breaking news. Because news is fluid, dynamic, and everchanging, we reserve the right to issue any updates or possible corrections as is customary in the news business. 

Visit LINDELLTV.COM to learn more. 

Media Contact:

For media inquiries or further information, please contact: 
LindellTV 

MIKE LINDELL MEDIA CORP.

Investor Relations:

Investor@LindellTV.com

LindellTV.com 

Forward – Looking Statements:

This press release contains “forward-looking statements.” All statements other than statements of historical fact are forward-looking statements, including, without limitation, statements regarding the partnership, expected benefits of the partnership, business strategy, future operations, future financial position, future revenues, projected costs, prospects, plans, objectives of management, and expected market growth. Words such as “anticipate,” “believe,” “continue,” “could,” “estimate,” “expect,” “intend,” “may,” “plan,” “potential,” “predict,” “project,” “should,” “target,” “will,” “would,” and similar expressions are intended to identify forward-looking statements, although not all forward-looking statements contain these words.
These forward-looking statements are based on current expectations and assumptions and are subject to substantial risks and uncertainties that could cause actual results or events to differ materially from those expressed or implied by such forward-looking statements. No assurance can be given that the events or results described in anyforward-looking statement will occur or be achieved. You should not place undue reliance on forward-looking statements. Risk factors that may cause actual results to differ materially include, without limitation, limited capital resources; the need for additionalfinancing; the need to develop and maintain effective internal controls, processes, and systems; changes in general economic conditions; changes in technology; the Company’s ability to attract viewers,advertisers, and paid users to its platforms; the number and size ofcompetitors; changes in the mix of products and services offered in its markets; changes in law and regulatory policy; dependence on access to White House events and press conferences; risks associated with operating as a media and communications company; risks associated with operating as a news outlet and social media platform; and disruptions resulting from power failures, cybersecurity incidents, terrorism, or other domestic or global events.
The Company undertakes no obligation to update or revise any forward-looking statement, whether as a result of new information, future events, or otherwise, except as required by law.

For media inquiries, interviews, or access to footage click the LindellTV on X link:

LindellTV on X: ” ON THE GROUND AT JOINT BASE ANDREWS: LINDELLTV & RAV AWAIT PRESIDENT XI’S ARRIVAL LindellTV’s @CaraCastronuova is alongside @taymitchell_tv with @RealAmVoice at Joint Base Andrews, serving in today’s White House press pool ahead of Chinese President Xi Jinping’s arrival. @P… / X 

CONTACT: LindellTV.com 

In a move that underscores the accelerating evolution of enterprise finance, Mistras Group, a global leader in technology-enabled industrial asset integrity and laboratory testing solutions, has introduced a modern addition to its finance team: Aimie, an autonomous AI Cash Collection Agent. Developed by Sidetrade, an AI-native company dedicated to Order-to-Cash. Aimie engages customers, qualifies invoices, and optimizes Order-to-cash strategies autonomously.

The decision reflects a growing trend among forward-looking finance organizations. In an environment marked by global volatility and operational complexity, legacy systems that are dominated by rigid ERP structures and static workflows have become increasingly inadequate. Rules-based automation and digital assistants, while useful, have reached their ceiling. Agentic AI is the new operating standard for competitive finance.

To stay ahead, CFOs are turning to Aimie to operationalize a new system of work: intelligent, autonomous, always on. This shift positions Mistras Group among the first companies in the US to integrate agentic AI as an operational coworker. Aimie redefines what AI can do by transforming Order-to-Cash from a scripted back-office function into a self-optimizing system of intelligence. She is a teammate who manages cash collection.

Purpose-built for corporate finance and backed by nearly $10 trillion transactions in Sidetrade’s Data Lake, Aimie brings contextual intelligence to every interaction. Her capabilities include:

• Autonomous, context-driven calls intelligently orchestrated across thousands of customer accounts;
• Continuous learning from customer payment behaviors and live interactions to deliver tailored dialogue, in real-time;
• Integrating natively with the Sidetrade platform to drive dynamic Order-to-Cash adjustments and real-time case management, without human intervention.

Aimie delivers consistent, policy-aligned execution at scale, driving measurable gains in cash flow, reducing manual workload, and enabling finance teams to refocus on higher-value priorities.

By embracing agentic AI, Mistras Group joins a growing group of enterprises that gain a structural advantage in financial execution. Those who hesitate risk being overtaken by faster, leaner, more adaptive competitors.

Media relations @Sidetrade
Oli Thornton                     00 44 7933 108 107           oli.thornton@sidetrade.com

About Sidetrade (www.sidetrade.com)
Sidetrade (Euronext Growth: ALBFR.PA) is an AI-native company dedicated to Order-to-Cash (O2C). Its platform combines O2C-dedicated applications, autonomous AI agents, and Aimie IQ, an intelligent natural-language interface that helps enterprises accelerate their cash generation, all built on SAFE, the Sidetrade Agentic Framework for Enterprise. Sidetrade operates the world’s largest proprietary O2C Data Lake: nearly $10 trillion in B2B transactions and close to 45 million buying companies. This data is used to train specialized AI models that monitor, analyze, decide, and act autonomously throughout the O2C cycle. Sidetrade supports companies in 85 countries with 450 employees across Europe, North America, and Asia-Pacific.

For more information, visit us at www.sidetrade.com and follow us on LinkedIn at @Sidetrade.

In the event of any discrepancy between the French and English versions of this press release, only the English version is to be taken into account.

Attachment

• Sidetrade accelerates in the US as Mistras Group (NYSE: MG) adopts its autonomous AI agents

State and local proclamations and a celebration at Blue Ops’ Valdosta facility mark a year of investment, manufacturing expansion and production milestones

SALT LAKE CITY, Sept. 24, 2026 (GLOBE NEWSWIRE) — Red Cat Holdings, Inc. (Nasdaq: RCAT) (“Red Cat” or the “Company”), a U.S. based provider of advanced all domain drone and robotic solutions for defense and national security, announced that its Blue Ops maritime division marked the inaugural Blue Ops Day on September 21 with a celebration at the company’s manufacturing facility in Valdosta, Georgia.

Recognized through proclamations from the State of Georgia and Valdosta-Lowndes County, Blue Ops Day marked the culmination of a year of significant growth for Blue Ops in Georgia. Since leasing its 155,000-square-foot Valdosta facility in September 2025, Blue Ops has expanded its domestic manufacturing capabilities, announced plans to invest $30 million and create more than 200 local jobs, added advanced manufacturing technologies, and begun ramping its Variant 7 Uncrewed Surface Vessel (USV) into full-rate production.

The event recognized that progress with a celebration at the Valdosta facility, where Blue Ops has spent the past year building out the team, technology and infrastructure needed to support U.S. production of its growing family of USVs. Red Cat and Blue Ops leadership were joined by elected officials, employees and community leaders to recognize the milestone and Blue Ops’ growing role in Georgia and the U.S. maritime industrial base.

“America has a long history of leading the world in shipbuilding and innovation, and we have an opportunity to lead again,” said Barry Hinckley, President of Blue Ops. “The next generation of naval power will look different. Smaller, smarter, autonomous systems produced rapidly and at scale will operate alongside our traditional fleet. In Valdosta, we’re bringing American boatbuilding, advanced manufacturing and modern technology together to help revitalize our maritime industrial base and strengthen our nation’s capabilities at sea.”

The celebration brought together Red Cat and Blue Ops leadership, state and local government officials, and members of the Valdosta-Lowndes County community. Government attendees and speakers included Representative Austin Scott, Representative Rich McCormick, Georgia State Senator Russ Goodman, Valdosta Mayor Scott James Matheson, and Chairman of the Lowndes County Board of Commissioners Bill Slaughter.

During the event, Blue Ops showcased its Variant 5 and Variant 7 USVs. Guests toured the manufacturing floor to see where the company’s vessels are built and integrated, and the celebration included the christening of a Variant 7 before it was lowered into the facility’s test pool.

September 21 was formally recognized as Blue Ops Day through a statewide proclamation from the Governor’s Office and a joint proclamation from the City of Valdosta and Lowndes County, recognizing Blue Ops’ investment in the region and contribution to expanding U.S. maritime manufacturing capabilities.

Blue Ops, Red Cat’s maritime division, develops and manufactures a growing family of mission-adaptable USVs for U.S. and allied defense missions. The Valdosta manufacturing operation is part of Blue Ops’ growing U.S. footprint, alongside its headquarters and showroom in West Palm Beach, Florida. The Valdosta facility brings manufacturing, systems integration and testing capabilities together in one location, helping move maritime systems from design and engineering improvements to production.

Blue Ops’ continued growth in Valdosta expands Red Cat’s U.S. manufacturing footprint into the maritime domain while supporting the U.S. maritime industrial base through skilled manufacturing jobs and increased domestic capacity to build and deliver uncrewed systems for U.S. and allied forces.

About Red Cat Holdings, Inc.

Red Cat (Nasdaq: RCAT) is a U.S. based provider of advanced all domain drone and robotic solutions for defense and national security. Through its integrated portfolio of trusted U.S. and allied hardware and software, Red Cat supports military, government, and public safety operations across air, land, sea and space. Its systems span small unmanned aircraft systems, uncrewed surface vessels, wireless power transfer technology, and autonomous swarming software to enhance situational awareness, operational effectiveness, and mission safety. Learn more at www.redcat.red.

Safe Harbor Forward-Looking Statements

This press release contains “forward-looking statements” that are subject to substantial risks and uncertainties. All statements, other than statements of historical fact, contained in this press release are forward-looking statements.

Forward-looking statements contained in this press release may be identified by the use of words such as “anticipate,” “believe,” “contemplate,” “could,” “estimate,” “expect,” “intend,” “seek,” “may,” “might,” “plan,” “potential,” “predict,” “project,” “target,” “aim,” “should,” “will” “would,” or the negative of these words or other similar expressions, although not all forward-looking statements contain these words.

Forward-looking statements are based on Red Cat Holdings, Inc.’s current expectations and are subject to inherent uncertainties, risks and assumptions that are difficult to predict. These and other risks and uncertainties are described more fully in Red Cat’s filings with the Securities and Exchange Commission. Forward-looking statements contained in this announcement are made as of this date, and Red Cat undertakes no duty to update such information except as required under applicable law.

Investor Contact:
Ankit Hira
Solebury Strategic Communications for Red Cat Holdings, Inc.
E-mail: RCAT@soleburystrat.com

Media Contact:
Peter Moran
Indicate Media
Phone: (347) 880-2895
Email: peter@indicatemedia.com

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/e3c8e1ca-32ff-4470-b706-c5a798fae20f

Evaluation-Ready Solutions Offer 20 W and 35 W Ratings in TO-252 (DPAK) and TO-263 (D²PAK) Packages, Resistance from 1 Ω to 47 kΩ, AEC-Q200 Qualification, and Optional PCB Test Boards

MALVERN, Pa., Sept. 24, 2026 (GLOBE NEWSWIRE) — Vishay Intertechnology, Inc. (NYSE: VSH) today introduced four thick film resistor sample kits designed to simplify component selection and validation for high power designs, while reducing time to market. Providing complete, evaluation-ready solutions, each kit includes surface-mount, Automotive Grade devices in 
TO-252 (DPAK) and TO-263 (D²PAK) packages, with high power ratings, a wide range of resistance values, and an optional PCB test board to enable fast, reliable electrical and thermal evaluation.

Devices in the Vishay Sfernice D2TO20, D2TO35, DTO35, and DTO35 / D2TO35 sample kits offer high power ratings of 20 W and 35 W in their compact, surface-mount packages. This high power density allows designers to reduce the number of parallel resistors or larger through-hole devices required, saving board space. Ideal for automotive, industrial, and other high reliability designs, all resistors in the kits are AEC-Q200 qualified, eliminating the need for additional component qualification during development.

Covering a wide resistance range from 1 Ω to 47 kΩ with selected E-series values, the kits reduce sampling efforts and minimize the need for additional sample orders compared to typical single-value or single-package kits. Supplied on cardboard tape strips, with each strip holding four resistors, devices are sorted in ascending order of resistance value and clearly labeled for easy identification. Combined with optional PCB test boards, this organization reduces lab setup time and accelerates design-in.

The resistors feature a non-inductive construction and electrical isolation between the resistor element and the metal tab, ensuring stable high frequency performance and enhanced safety. Compatibility with standard surface-mount assembly processes, including proven reflow resistance up to 270 °C for 10 s, improves assembly margin and manufacturing yield.

Device Specification Table:

Resistor Series	Sample Kit Name	Ordering Number	Resistance	Power at 25 °C	Package
D2TO20	D2TO 20 SAMPLE KIT	ACCLFFD2TO20SPLKIT	1 Ω to 47 kΩ	20 W	TO-263 (D²PAK)
D2TO35	D2TO 35 SAMPLE KIT	ACCLFFD2TO35SPLKIT		35 W	TO-263 (D²PAK)
DTO35	DTO SAMPLE KIT	ACCLFFDTOSPLKIT		35 W	TO-252 (DPAK)
DTO35 and D2TO35	DTO D2TO Sample Kit	ACCLFFDTOD2TOSPLKT		35 W	TO-252 (DPAK); TO-263 (D²PAK)

Samples of the new resistor sample kits are available now, with lead times of four weeks.

Vishay manufactures one of the world’s largest portfolios of discrete semiconductors and passive electronic components that are essential to innovative designs in the automotive, industrial, computing, consumer, telecommunications, military, aerospace, and medical markets. Serving customers worldwide, Vishay is The DNA of tech.^® Vishay Intertechnology, Inc. is a Fortune 1000 Company listed on the NYSE (VSH). More on Vishay at www.Vishay.com.

The DNA of tech^® is a registered trademark of Vishay Intertechnology, Inc.

Vishay on Facebook: http://www.facebook.com/VishayIntertechnology
Vishay Twitter feed: http://twitter.com/vishayindust

Links to product datasheets:
D2TO 20 SAMPLE KIT product page
D2TO 35 SAMPLE KIT product page
DTO SAMPLE KIT product page
DTO D2TO Sample Kit product page

Link to product photo:
https://www.flickr.com/photos/vishay/albums/72177720335655446

For more information please contact:
Vishay Intertechnology
Peter Henrici, +1 408 567-8400
peter.henrici@vishay.com
 or
Redpines
Bob Decker, +1 415 409-0233
bob.decker@redpinesgroup.com

Renk Group AG: Release according to Article 40 (1) of the WpHG (the German Securities Trading Act) with the objective of Europe-wide distribution

24. Sep 2026 / 16:50 CET/CEST, transmitted by GlobeNewswire.

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

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Legal entity

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6. Total positions

7. Details on total positions

a. Voting rights attached to shares (Sec. 33, 34 WpHG)

b.1. Instruments according to Sec. 38 (1) no. 1 WpHG

b.2. Instruments according to Sec. 38 (1) no. 2 WpHG

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Archive at www.globenewswire.com

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ST. PETERSBURG, Fla., Sept. 24, 2026 (GLOBE NEWSWIRE) — BayFirst Financial Corp. (NASDAQ: BAFN) (“BayFirst” or “Company”), parent company of BayFirst National Bank (“Bank”) today announced that twelve directors of the company have been elected by shareholder vote during the Annual Shareholder Meeting on September 22, 2026 to the company’s Board of Directors.

The directors elected include: Mark S. Berset, William T. Conroy, Dennis R. DeLoach, III, Kenneth R. Lehman, Christos Politis, M.D., Alfred T. Rogers, Jr., Anthony Saravanos, Bradly W. Spoor, William I. Sultenfuss, II, Joseph E. Taggart, Andrew P. Wright, and Barbara J. Zipperian. Directors will serve until the expiration of their respective terms or until their successors have been duly elected and qualified.

“I am pleased to welcome our newly elected Board of Directors, and I look forward to working with them as we continue executing our strategic priorities,” stated Alfred Rogers, Chief Executive Officer. “BayFirst is fortunate to have a Board of prominent local leaders and entrepreneurs as well as banking experts. I also want to express our sincere appreciation to our outgoing Board members for their service, leadership, and commitment to BayFirst. This has been an important year of transition for the Company, and we remain focused on strengthening our community banking platform, serving our customers well, and moving BayFirst forward with discipline and purpose.”

About BayFirst Financial Corp.

BayFirst Financial Corp. is a registered bank holding company based in St. Petersburg, Florida which commenced operations on September 1, 2000. Its primary source of income is derived from its wholly owned subsidiary, BayFirst National Bank, a national banking association which commenced business operations on February 12, 1999. The Bank currently operates twelve full-service banking offices throughout the Tampa Bay-Sarasota region and offers a broad range of commercial and consumer banking services to businesses and individuals. As of June 30, 2026, BayFirst Financial Corp. had $1.13 billion in total assets.

Forward-Looking Statements

In addition to the historical information contained herein, this presentation includes “forward-looking statements” within the meaning of such term in the Private Securities Litigation Reform Act of 1995. These statements are subject to many risks and uncertainties, including, but not limited to, the effects of health crises, global military hostilities, weather events, or climate change, including their effects on the economic environment, our customers and our operations, as well as any changes to federal, state or local government laws, regulations or orders in connection with them; the ability of the Company to implement its strategy and expand its banking operations; changes in interest rates and other general economic, business and political conditions, including changes in the financial markets; changes in business plans as circumstances warrant; risks related to mergers and acquisitions; changes in benchmark interest rates used to price loans and deposits, changes in tax laws, regulations and guidance; enforcement actions initiated by our regulators and their impact on our operations; and other risks detailed from time to time in filings made by the Company with the SEC, including, but not limited to those “Risk Factors” described in our most recent Form 10-K and Form 10-Q. Readers should note that the forward-looking statements included herein are not a guarantee of future events, and that actual events may differ materially from those made in or suggested by the forward-looking statements.

Contacts:
Alfred T. Rogers, Jr.	Scott J. McKim
Chief Executive Officer	Chief Financial Officer
727.685.2097	727.521.7085