Author: Ravi Shankar

ANN ARBOR, Mich., Sept. 24, 2026 (GLOBE NEWSWIRE) — Kraig Biocraft Laboratories, Inc. (OTCQB: KBLB) (“the Company”, “Kraig Labs”, or “Kraig’s”), a world leader in spider silk technology*, today announced a major milestone for Project Atlas, the Company’s most ambitious genetic engineering initiative to date. The Company has successfully integrated every planned Project Atlas transgene into living commercial silkworm hosts. This milestone completes the foundational Atlas Gene Library for construction of numerous unique recombinant spider silks.

This milestone represents a major breakthrough for the Company’s molecular biology research, genetic engineering, and development. With the Atlas Gene Library now assembled, the Company has entered the next stage of the program focused on developing stable homozygous breeding lines for each Atlas transgene. Project Atlas was designed for specific enhanced properties in strength, toughness, and flexibility that go far beyond the Company’s current production line of recombinant spider silk.

Establishing homozygous Atlas lines will provide the foundation for the systematic creation and evaluation of more than 200 potential genetic pairing configurations, potentially resulting in more than 200 distinct exotic fibers.

These combinations will allow researchers to systematically study how individual Atlas technologies perform together and identify the most promising configurations for future development. With more than 200 unique gene combinations, the Company will have an extensive palette of design configurations from which to engineer exotic fibers with novel and cutting-edge material properties. The objective of Project Atlas is the creation of next-generation recombinant silkworm strains with advanced properties, incorporating the complete suite of Atlas genetics.

“Completing the Atlas Gene Library is a defining milestone for Project Atlas,” said Dr. Xiaoli Zhang, Chief Scientist of Kraig Labs. “Every planned Atlas transgene has now been established in commercial silkworm hosts, giving us the complete set of genetic building blocks we envisioned when Project Atlas began. Our focus now shifts toward developing homozygous breeding lines and systematic evaluation of the more than 200 possible genetic configurations this library enables. Each step builds upon the last, bringing us closer to understanding the full potential of these technologies.”

Project Atlas is a comprehensive genetic engineering initiative capable of combining multiple advanced genetic technologies. It goes far beyond conventional transgenic development efforts that typically focus on individual genetic improvements. The Atlas Gene Library provides the foundation for evaluating how these individual technologies can be assembled into increasingly sophisticated multi-gene recombinant silkworm strains.

The Company believes Project Atlas represents one of the most ambitious genetic engineering initiatives ever undertaken anywhere. Through its Gene Library, Atlas offers more than 200 possible genetic configurations and its ultimate objective: combining the full suite of genes into a single production strain, with unprecedented and targeted material performance characteristics.

As homozygous Atlas lines are established, Kraig Labs will begin systematically creating and evaluating these genetic combinations. This deliberate approach is expected to provide critical insight into how multiple advanced genetic technologies interact and perform together. The knowledge gained through this work will guide the development of future recombinant spider silk technologies and identify the highest-value combinations for future commercial applications.

Project Atlas continues to advance alongside the Company’s expanding commercial spider silk production operations. While Kraig Labs executes its aggressive production scale-up strategy, its research and development team continues building the next generation of recombinant spider silk technologies. By advancing commercialization and innovation in parallel, the Company is building both the manufacturing capacity and scientific foundation needed to support long-term growth.

Completion of the Atlas Gene Library marks the beginning of the next phase of Project Atlas. As additional homozygous lines are established and new genetic combinations are evaluated, the Company expects Project Atlas to continue expanding the performance, versatility, and commercial potential of recombinant spider silk.

Kraig Labs believes the successful completion of the Atlas Gene Library further strengthens its leadership position in advanced biomaterials and genetic engineering, creating a foundation for continued innovation and future commercial opportunities.

The Company’s leadership in biomaterials was recently spotlighted on the cover of the March 2026 issue of National Geographic, highlighting the growing importance and predominance of our work in scaling spider silk production.

Interested persons can order a copy of National Geographic featuring Kraig Labs at https://ngsingleissues.nationalgeographic.com/natgeo-march-2026.

You can purchase a digital copy of the article directly from National Geographic at https://www.nationalgeographic.com/science/article/spider-silk-silkworm-genetic-engineering

For the latest updates on Kraig Labs and its pioneering spider silk technologies, visit www.kraiglabs.com.

For details about recent Kraig Labs advancements, please watch the Company’s investor updates at www.kraiglabs.com/videos or on the Company’s YouTube Channel https://www.youtube.com/@kraigbiocraftlaboratories2270.

To view the most recent news from Kraig Labs and/or to sign up for Company alerts, please go to www.KraigLabs.com/news   

* For a description of our historical leadership in this technology, please follow this link https://www.kraiglabs.com/world-leader/

Kraig Labs Technology is built on a scientifically engineered silkworm, which incorporates key spider silk proteins to produce recombinant spider silk.

About Kraig Biocraft Laboratories, Inc.

Kraig Biocraft Laboratories, Inc. (www.KraigLabs.com), a reporting biotechnology company is the leading developer of genetically engineered spider silk-based fiber technologies.

The Company has achieved a series of scientific breakthroughs in the area of spider silk technology with implications for the global textile industry.

Cautionary Statement Regarding Forward Looking Information

Statements in this press release about the Company’s future and expectations other than historical facts are “forward-looking statements.” These statements are made on the basis of management’s current views and assumptions. As a result, there can be no assurance that management’s expectations will necessarily come to pass. These forward-looking statements generally can be identified by phrases such as “believes,” “plans,” “expects,” “anticipates,” “foresees,” “estimated,” “hopes,” “if,” “develops,” “researching,” “research,” “pilot,” “potential,” “could” or other words or phrases of similar import. Forward looking statements include descriptions of the Company’s business strategy, outlook, objectives, plans, intentions and goals. All such forward-looking statements are subject to certain risks and uncertainties that could cause actual results to differ materially from those in forward-looking statements. This press release does not constitute an offer to sell or the solicitation of an offer to buy any security.

Ben Hansel, Hansel Capital, Inc.

(720) 288-8495

ir@KraigLabs.com

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/282548de-075b-4efb-a9ae-64759bf97c83

Urges Shareholders to Vote ‘FOR’ Ethan Allen’s Five Highly Qualified Director Nominees on the BLUE Proxy Card

Ethan Allen’s Board Has Overseen a 49.1% Five-Year Return While the Peer Median Lost 42.7%, and Has Returned $768 Million in Dividends to Shareholders

Ethan Allen’s Board Has Built a Debt-Free, Vertically Integrated Business That Has Sustained Gross Margins Above 59% for Five Straight Years and Averaged Operating Margins More Than Double Its Peers’

Ethan Allen’s Board Has Completed the Company’s Repositioning and Is Driving a Growth Plan That Is Already Delivering Record Close Rates and Higher Order Values

Ethan Allen’s Board Is Leading an Orderly CEO Transition, While DGB Would Hand Control to a Slate with No Operating Plan, No CEO, and No Inside Knowledge of the Business

Visit www.VoteEthanAllen.com for More Information

DANBURY, CT, Sept. 24, 2026 (GLOBE NEWSWIRE) — Ethan Allen Interiors Inc. (“Ethan Allen” or the “Company”) (NYSE: ETD), a leading interior design company, manufacturer and retailer in the home furnishings marketplace, today announced the filing of its definitive proxy statement with the U.S. Securities and Exchange Commission in connection with the Company’s Annual Meeting of Stockholders (“Annual Meeting”), scheduled to be held at 11:00 A.M. Eastern Time on November 4, 2026. Shareholders of record as of the close of business on September 11, 2026, are entitled to vote at the Annual Meeting.

In conjunction with the filing and related mailing of proxy materials, the Company’s Board of Directors (the “Board”) is sending shareholders the letter below, highlighting the following key points:

• Ethan Allen’s vertically integrated, designer-led business model reflects a deliberate strategic plan that has produced a consolidated gross margin above 59% for five consecutive fiscal years, a debt-free balance sheet, and $768 million in cash dividends paid to shareholders since going public. The Company has delivered a five-year total shareholder return (“TSR”) of 49.1% through September 21, 2026, and 45.2% through August 4, 2026, the last trading day before DGB publicly announced its director nominations, outperforming 10 of the 11 companies in the fiscal 2026 peer group disclosed in the Company’s 2026 proxy statement with complete five-year trading data.¹ Its operating margin over the past five years has averaged 12.8%, more than double its Proxy peer group average, indicative of a profitable, disciplined business model.
• Leveraging its strong operating margins and profitability, the Company has undertaken a significant repositioning to strengthen its platform for long-term sustainable growth. Ethan Allen has invested in product visualization and room planning technology designed to enhance the client experience and support a more efficient retail footprint. As part of this transition, the Company refreshed and right-sized over 100 design centers and sold additional floor samples, which affected manufacturing productivity and margins during the transition. With this repositioning now substantially complete, Ethan Allen is focused on translating its designer-led, vertically integrated platform into long-term, profitable growth and shareholder value while maintaining margin and balance-sheet discipline.
• Ethan Allen’s recent and planned increases in marketing spend, including paid search and paid social, are designed to strengthen brand awareness and connect online engagement with in-person design services.
• The Board is advancing its ongoing formal CEO succession process led by the Board’s Corporate Governance, Nominations and Sustainability Committee (the “Committee”), which is comprised of every independent director. The Committee has engaged a nationally recognized executive search firm to identify and evaluate internal and external candidates. The Board has committed to publicly announcing Ethan Allen’s next CEO no later than June 30, 2027, the date on which Mr. Kathwari’s current contract is scheduled to end.
• DGB Investment, a 5.2% shareholder, is seeking to take control of the Company by replacing the entire Board and the CEO without a detailed operating plan. DGB’s nominees have not demonstrated experience overseeing the full complexity of a vertically integrated, designer-led manufacturer-retailer model, which presents a significant risk to the ongoing business.
• It is critical that Ethan Allen shareholders vote “FOR” the Company’s five highly qualified director nominees and vote “WITHHOLD” on DGB’s nominees on the BLUE proxy card.
• The Company launched VoteEthanAllen.com to provide shareholders with additional information about Ethan Allen’s history of and commitment to driving shareholder value, as well as instructions for how to vote at the 2026 Annual Meeting.

The full text of the letter being mailed to shareholders follows:

September 24, 2026

Dear Fellow Shareholders,

The future direction and control of Ethan Allen is in your hands. This letter details why we believe the choice is clear and you should vote “FOR” all five of Ethan Allen’s director nominees – M. Farooq Kathwari, David M. Sable, Tara I. Stacom, Maria Eugenia Casar and Cynthia Ekberg Tsai – and vote “WITHHOLD” on DGB’s nominees on the BLUE proxy card.

Your Board of Directors is singularly focused on enhancing the value of your investment in Ethan Allen and acting in the best interests of all shareholders. Your Board and Management team have strategically repositioned the Company and created a platform for long-term sustainable growth, while maintaining profitability, and responsibly returning capital to shareholders.

Ethan Allen is:

• Executing its designer-led strategy,
• Investing in long-term sustainable growth,
• Generating positive cash flow,
• Returning capital to shareholders,
• Scaling its marketing and digital capabilities and product offerings,
• Expanding its global retail footprint, and
• Preparing for its next chapter of profitable growth.

While the Company is investing in and strengthening key areas of its vertically integrated enterprise, the Board is focused on specific actions to maintain profitability, unlock growth, accelerate digital execution, reinforce capital allocation discipline and continue to strengthen Board accountability.

At the upcoming Annual Meeting on November 4, 2026, you will decide who leads Ethan Allen into its next chapter. DGB Investment Inc. (“DGB”), a 5.2% shareholder, is seeking to replace your CEO and take full control of your Board. DGB has not, however, provided a detailed operating plan for how it would “triple shareholder value over the next three years” while facing the same macroeconomic challenges every company in our industry is navigating today.

DGB’s founder has publicly conceded the strength of the very business he seeks to control. In an August 7, 2026, televised interview, he said that Ethan Allen’s business is fundamentally very strong, that our products are great, and that our domestic manufacturing is a significant advantage in a tariff environment. We agree.

That advantage was not an accident. Years ago, while much of the furniture industry was moving production offshore, we made the strategic decision to go the other way and invest in onshore manufacturing. Executing on that required us to build an integrated manufacturing system that today enables us to offer customers an amazing range of customization options and deliver craftsman-quality product faster than competitors who depend on lower-quality imports. The very strength DGB’s founder is praising today is the direct result of a strategy we committed to while others were still chasing lower costs overseas.

Your Board is committed to engaging directly with shareholders throughout this process and welcomes your perspectives on the Company’s strategy, digital execution, capital allocation, succession planning and accountability.

We believe DGB’s public statements mischaracterize the Board’s oversight and succession planning. Shareholders should evaluate our directors on their qualifications, the decisions they have made and the work underway to advance Ethan Allen’s next phase of growth. The following sections explain our strategy, the Board’s oversight and the ongoing preparations for an orderly leadership transition. Rather than engage with rhetoric about individual directors’ motives, we will focus on the facts relevant to shareholders: the Company’s performance, the actions underway, the Board’s oversight and the consequences of replacing every director.

We urge you to vote “FOR” all five of Ethan Allen’s highly qualified director nominees: M. Farooq Kathwari, David M. Sable, Tara I. Stacom, Maria Eugenia Casar and Cynthia Ekberg Tsai – on the BLUE proxy card, for the following reasons:

Reason 1: A Designer-Led Business Model, Managed with Financial Discipline

Many furniture companies offer customization or premium positioning, but few pair that with:

• An employed design workforce,
• Owned North American manufacturing, and
• A white-glove logistics network operating as one integrated system.

Ethan Allen built this system deliberately over decades to support a differentiated strategy centered on customization, quality, personal service and coordinated whole-room solutions. Today, the platform includes more than 500 interior design professionals, owned North American manufacturing facilities and a proprietary white-glove logistics network.

Revenue is below its 2006 peak, and restoring profitable growth is our priority. The recent declines also require context. Lower U.S. State Department revenue accounted for 33% of the decline in fiscal 2025 and 55% in fiscal 2026. In fiscal 2026, lower sales to China and dealers accounted for another 5% and 6%, respectively. Together, these three areas accounted for approximately two-thirds of the fiscal 2026 decline and involve revenue streams that are not directly comparable with those of most companies in DGB’s peer analysis. Since 2006 we repositioned and transformed our manufacturing into a custom made-to-order model that increased manufacturing capacity and allowed us to consolidate our logistics from ten national distribution centers in 2006 to three as of June 30, 2026. We added technology to our retail design centers that has enabled the reduction of the average size of our design centers from over 20,000 square feet in 2006 to 13,700 square feet today. Manufacturing approximately 75% of our custom furniture in North America gives us greater control over quality, production and lead times. We currently have no manufacturing capacity constraints and can grow our business without adding manufacturing facilities. Our priority is to use this platform to maintain profitability, and unlock growth while protecting quality, gross margins, and balance-sheet strength.

Ethan Allen’s vertically integrated business model has supported consolidated gross margin above 59% for five consecutive fiscal years. Operating margin over the past five years has averaged 12.8%, more than double its Proxy peer group average, indicative of a profitable, disciplined business model. We maintain a debt-free balance sheet and have returned $768 million in cash dividends to shareholders since our 1993 IPO and reported a five-year total shareholder return of 49.1% through September 21, 2026, including reinvested dividends.

DGB’s peer comparison uses arithmetic averages that are heavily influenced by a small number of extreme performers. Using the median methodology reflected in ISS reports and Ethan Allen’s fiscal 2026 proxy peer group, Ethan Allen delivered five-year TSR of 49.1%, compared with the peer median of (42.7)%, and ten-year TSR of 30.3%, compared with the peer median of 20.6%, through September 21, 2026. For the ten-year comparison, Arhaus, Lovesac and Purple Innovation are treated as not applicable because they lack complete comparable trading histories for their current operating companies. DGB’s separate market-capitalization and enterprise-value snapshots also exclude the $768 million of cash dividends Ethan Allen has returned since its IPO and therefore do not measure the total return received by shareholders.

Given the meaningful differences in business models, customer bases and distribution strategies across the furniture industry, the Company also considers a focused group of direct home furnishings retail peers: Havertys (HVT), Arhaus (ARHS), RH, La-Z-Boy (LZB) and Bassett Furniture Industries (BSET). This group offers the most relevant benchmark for evaluating ETD’s performance; against four of those companies in this group with complete five-year trading histories, Ethan Allen delivered a five-year TSR of 45.2% through August 4, 2026 and 49.1% through September 21, 2026, outperforming each company at both measurement dates.

As of September 21, Ethan Allen’s TSR exceeded the subset median of 5.3% by 43.8 percentage points.²

Over the past decade, a significant number of furniture and home goods businesses have closed, restructured or sought bankruptcy protection. Luxury retailers have also faced financial distress, including Neiman Marcus, which filed for Chapter 11 in 2020.³ Over the past five years, Ethan Allen has remained profitable and debt-free. Our cash and investments balance grew by an average of 12.4% per year, and total liquidity was $309 million as of June 30, 2026.

Fiscal 2026 consolidated gross margin was 61.2%, compared with 60.5% in fiscal 2025. We generated $45 million of operating income at a 7.8% operating margin and $52.5 million in operating cash flow, including $5.0 million in tariff refunds. At June 30, 2026, we held $187.5 million in cash and investments and had no outstanding debt. Our cash generation and financial flexibility support continued investment in our growth priorities throughout the leadership transition. Management remains focused on executing these initiatives while the Board conducts the CEO search and prepares for an orderly handover.

Digital is the front door to our designer-led model, helping clients discover the brand, explore products and connect with a designer. Our design centers then convert that interest through personalized service, customization and craftsmanship. Management observes that sales are three to five times higher when a customer interacts with an Ethan Allen designer. Our omnichannel strategy is designed to strengthen the client-designer relationship.

Reason 2: A Board Committed to Increasing Profitable Growth and Advancing Digital Execution

Our plan is organized around four priorities: expanding qualified customer acquisition; increasing designer and design-center productivity; accelerating relevant product introductions and customization; and maintaining operating discipline.

DGB cites issues raised during the 2015 proxy contest as if Ethan Allen had stood still. Since then, the Company has:

• Repositioned its design-center network,
• Consolidated its logistics footprint,
• Expanded its product assortment,
• Deployed digital tools across the customer journey, and
• Maintained consolidated gross margin above 59% for five consecutive fiscal years.

The initiatives below are designed to convert those capabilities into renewed, profitable growth.

Our close ratio, calculated as traffic converted to customers, reached all-time highs in each of the past two years. An estimated 30% of client purchases followed a previous interaction with an Ethan Allen interior designer.

Your Board and management team have made meaningful investments in:

• Marketing,
• Product expansion,
• Digital tools, and our
• Design-center footprint to drive long-term value creation.

Customer metrics show progress:

• Average order value increased from $4,635 in fiscal 2023 to $5,353 in fiscal 2026, and
• Reported order value per design-center visit increased from $1,274 to $1,619 over the same period.

Our focus is to translate these improvements into sustained, profitable revenue growth. The actions underway include:

• Right-sizing and expanding design centers: Ethan Allen opened four new Company-operated design centers during fiscal 2025 and four more in fiscal 2026. Five more are planned for fiscal 2027, including Aventura and Naples, Florida, as well as Huntersville, North Carolina. Two to three new international locations are also planned. Each new Company-operated design center is expected to generate $3 million to $4 million in annual revenue at maturity, following an expected ramp period. We have also reduced our average design-center footprint while investing in technology that helps designers serve clients in less physical space. Our occupancy costs are lower by mid-single digits compared with 2019.
• Accelerating product development: The Company has nearly doubled its product assortment over the past five years, driven by substantial growth in Home Accents, Lighting, Outdoor, Area Rugs and expanded customization across Upholstery and Case Goods collections. This expansion gives clients greater choice through customization, rather than relying solely on adding stocked products. We can offer many variations from a single product while maintaining inventory discipline and operational efficiency.
• Accelerating home calls: Ethan Allen’s complimentary Interior Design Service helps cultivate deep customer relationships. Currently, each designer conducts approximately six in-home consultations per month, and the Company aims to increase that to up to 12 through additional training and education.
• Bolstering the Designer Trade Program: Ethan Allen is increasing marketing of its Trade Design Program, which provides designers, builders, architects, real estate agents and home staging professionals with access to commissions, product discounts and project support. The program currently accounts for under 5% of Ethan Allen’s consolidated net sales. The Company is working to add members and expand sales opportunities.
• Developing digital tools aligned with our designer-led model: Over more than a decade, Ethan Allen has invested in tools that support the client-designer relationship, including live chat and online booking of appointments with a designer, 3D floor planning and custom product visualization, augmented reality, Salesforce Service and Marketing Cloud, and the Salesfloor MyDesigner clienteling app. We are now connecting Data Cloud and Tableau with our customer relationship and point-of-sale systems to improve customer insights, and we are piloting Fastr Optimizer to better understand website journeys and appointment pathways. We measure digital execution across the full customer journey, not solely through direct website sales. Direct online sales are one component of a model in which digital tools also drive discovery, visualization, appointments, designer engagement and coordinated purchases across channels.
• Marketing to build traffic and drive growth: Ethan Allen’s marketing strategy reinforces the Company’s core brand values: quality, craftsmanship, personal service, technology and social responsibility. Marketing spend has grown by double digits in each of the past two fiscal years, including paid search and paid social to support customer acquisition and engagement. In fiscal 2027, we plan to expand brand partnerships and increase marketing spend by a projected $1.5 million, including enhancements to marketing materials and expanded mailer distribution. We also plan to hire additional training and development associates to help regional leaders and designers implement marketing best practices.

Investment levels should be evaluated together with execution and measurable outcomes, not by spending ratios alone. As the Company’s data capabilities develop, management intends to assess marketing and digital initiatives using measures such as qualified appointments, conversion, designer productivity, revenue mix and cash returns.

Management will continue advancing these initiatives throughout the succession process. The Board is seeking a CEO who can navigate a uniquely complex operational landscape, manage a vertically integrated, designer-led manufacturer-retailer model and accelerate digital execution, strengthen the omnichannel experience and improve supply-chain efficiency, building on Ethan Allen’s capabilities to drive profitable growth.

Reason 3: Disciplined Capital Allocation and Shareholder Returns

Our capital allocation reflects disciplined management. Ethan Allen has paid an annual dividend every year since 1996 and a special dividend every year since 2021, including a $0.25 special dividend declared on July 28, 2026, before the Company received DGB’s nomination notice on August 5, 2026. Our capital-return program is a long-standing practice.

Consistent with that multi-year pattern, we announced an additional $3.00 per share special dividend in August 2026, following a fiscal year in which we generated positive operating cash flow every quarter. While this distribution represents roughly 40% of our June 30, 2026 cash and investments balance, we expect to maintain approximately $85 million of cash and investments after the distribution. These funds will support continued capital improvements, including approximately $12 million to $14 million in capital expenditures during fiscal 2027.

Over the past decade we have returned more than $402 million in cash dividends to shareholders, including $46 million in fiscal 2026 and $50 million in fiscal 2025.

Our capital allocation framework prioritizes investment in sustainable growth, operating liquidity and the return of excess capital. The Board remains focused on applying that discipline while overseeing the leadership transition.

DGB judges investment principally by comparing spending levels with depreciation and peer ratios, without identifying a growth investment Ethan Allen was unable to pursue because of capital returns. Ethan Allen has no current manufacturing capacity constraints and can scale production without adding facilities. DGB’s plan likewise does not disclose the capital required for its proposed investments, the returns expected or the timing of those returns.

Reason 4: Independent Oversight and an Orderly Leadership Transition

Succession planning has been under active Board consideration for several years, predating DGB’s campaign, and remains a standing item on the Board’s agenda. Our independent directors also exercise oversight through executive sessions without management present. They held five such sessions in fiscal 2026, each chaired by the Lead Independent Director.

In the August 7 Bloomberg interview, Mr. Kathwari’s remarks concerned his age and ability to lead the business, not whether the Board had discussed succession.⁴

The Board’s ongoing CEO search is led by the Corporate Governance, Nominations and Sustainability Committee, which comprises all four independent directors. The Committee has engaged a nationally recognized executive search firm to evaluate internal and external candidates. The Board has committed to publicly announcing the next CEO no later than June 30, 2027, when Mr. Kathwari’s current contract is scheduled to end.

Mr. Kathwari continues to lead management and execute the Company’s strategic priorities while supporting the search and leadership transition. After June 30, 2027, he will remain a non-executive director until the 2027 annual meeting, when he will leave the Board. Our objective is to select the right leader and support an orderly handover while maintaining focus on the business.

DGB’s nominees are conducting a competing CEO search without the Board’s access to internal management assessments, nonpublic operating information or the Company’s existing succession work. Replacing every director would transfer control of both Ethan Allen and the CEO search to nominees who have not served as fiduciaries of the Company or conducted an inside review of its operations and leadership needs.

Reason 5: A Board Equipped to Execute Strategy and Protect Shareholder Value

The question before shareholders is which directors are best suited to oversee Ethan Allen’s strategy and execution. Our business combines owned North American manufacturing, an employed design workforce, Company-operated retail and a white-glove logistics network. Effective oversight requires experience across this integrated system, together with the digital, marketing and financial skills needed to restore growth.

Your Board’s experience overseeing Ethan Allen’s manufacturing, design workforce, retail network and logistics is directly relevant to selecting and overseeing the next CEO. We believe that knowledge, together with the qualifications below, provides an important foundation for assessing candidates against the Company’s leadership needs and supporting a successful transition.

Our nominees’ backgrounds map directly onto the pillars of our actual strategy:

• Designer-led selling and brand building. David Sable, our Lead Independent Director, was a founding partner and Chief Marketing Officer of Genesis Direct, Inc., a pioneer of digital omnichannel retailing, and then ran Wunderman, WPP’s digital customer-relationship-management unit, as Vice Chairman and Chief Operating Officer, and later served as Chairman and CEO of VMLY&R, one of the world’s largest marketing and digital agencies. He currently sits on the board of American Eagle Outfitters (NYSE: AEO), where he serves on the Audit, Compensation and Nominating Committees, giving our Board current exposure to another public retailer’s digital and omnichannel strategy. David Sable’s biography directly contradicts DGB’s claim that our directors lack digital and omnichannel retail expertise. He has also advised digital startups and fast-growing companies, providing direct exposure to emerging technology and customer-acquisition models.
• Vertical integration and global operations. Farooq Kathwari, our CEO, has led our vertically integrated manufacturing and retail enterprise for decades. Gina Casar brings deep experience from the United Nations, including her roles as Under-Secretary-General and Deputy Executive Director of the World Food Programme where she oversaw large-scale, highly complex international logistics operations. Tara Stacom has served as Executive Vice Chairman of Cushman & Wakefield since 2013, a global commercial real estate firm with 53,000 employees in sixty countries. She previously served on the firm’s Board of Directors from 2003 to 2008 as well as the firm’s global advisory board.
• Design-center real estate and site strategy. As Executive Vice Chairman of Cushman & Wakefield, Tara Stacom advises major corporations on complex business and real estate decisions, executing some of the world’s largest leasing, sales, and corporate finance real estate transactions, and delivering strategic solutions in dynamic market environments. This experience is critical for a company actively enhancing its design center network.
• Capital allocation and audit oversight. Cynthia Tsai, our Corporate Governance, Nominations and Sustainability Committee chair, spent 16 years at Merrill Lynch and Kidder Peabody before founding and leading a global software and technology company. Gina Casar, our Audit Committee chair, served as CFO/Controller of the United Nations and as Mexico’s National Treasurer and managed the investment of $80 billion of the United Nations Joint Staff Pension Fund.
• Digital, e-commerce and cybersecurity oversight. David Sable, Tara Stacom and Cynthia Tsai all bring direct operating backgrounds in technology-driven business models.

Three of our four independent directors, Mr. Sable, Ms. Tsai and Ms. Casar, joined in the last five years. The average tenure of our independent directors is six years.

Replacing the Board Would Introduce Execution Risk

DGB has announced a separate CEO search led by its director nominees and the selection of an executive search firm. Those nominees are conducting their search before serving on Ethan Allen’s Board. By DGB’s own admission, they are hoping the press from their campaign will help them source CEO candidates⁵, meaning shareholders are being asked to approve a leadership change with no leader, no transition plan, and no accountability for what happens in the interim. We believe replacing your Board during the ongoing succession process would introduce execution risk by transferring oversight of the business and responsibility for the leadership transition at the same time.

Being a good steward of shareholder capital is not defined by any single decision, it is defined by the discipline brought to bear on hundreds of decisions, many of which never make headlines but each of which shapes the trajectory of your company. Your Board has approached this responsibility with unwavering diligence, asking hard questions, challenging assumptions, and holding management accountable, all in service of long-term value creation for shareholders.

DGB’s slate lacks the relevant experience required to oversee Ethan Allen’s distinctive operating model and corporate strategy. DGB has not demonstrated that its nominees have overseen a vertically integrated manufacturer-retailer that designs and customizes its own products, operates North American manufacturing facilities, employs its own design workforce and manages company-operated retail and logistics. Giving those nominees full control would place the Company’s strategy and CEO succession process in the hands of a slate without the industry, operational or Company-specific foundation needed to execute Ethan Allen’s plan.

DGB’s September 22 letter identifies three broad priorities but provides no quantified revenue or profitability targets, capital plan, margin guardrails, implementation timetable or milestones against which shareholders could assess performance. Nevertheless, DGB is asking shareholders to entrust its nominees with full control of Ethan Allen.

Ethan Allen’s Board is advancing a focused plan to restore profitable growth while preserving the capabilities that differentiate the Company. DGB is asking shareholders to replace every director before providing a detailed operating plan for executing its proposed transformation.

We will continue to engage with shareholders and execute our plan to restore profitable growth, accelerate digital execution, reinforce capital-allocation discipline, and advance the Board’s succession planning process.

We urge you to vote “FOR” Ethan Allen’s five nominees: M. Farooq Kathwari, David M. Sable, Tara I. Stacom, Maria Eugenia Casar and Cynthia Ekberg Tsai and vote “WITHHOLD” on DGB’s nominees – on the BLUE proxy card today, and to disregard any WHITE proxy card you may receive from DGB. Only your latest-dated proxy will count.

On behalf of the Board, thank you for your continued support and investment in Ethan Allen.

Sincerely,
Maria Eugenia Casar, Independent Director
M. Farooq Kathwari, Chairman, President and Chief Executive Officer
David M. Sable, Lead Independent Director
Tara I. Stacom, Independent Director
Cynthia Ekberg Tsai, Independent Director

YOUR VOTE IS IMPORTANT!
For more information regarding Ethan Allen’s strategy and Board nominees, please visit:
www.VoteEthanAllen.com
Please refer to the enclosed BLUE proxy card for instructions on voting by internet, telephone, or mail. If you have questions or need assistance voting your shares, please contact our proxy solicitor:
GEORGESON, LLC
51 West 52^nd Street, 6^th Floor
New York, NY 10019
Shareholders, banks may call toll-free at (888) 717-2572
ethanallen@georgeson.com

Forward-Looking Statements

This communication contains “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995, including statements regarding the Company’s strategic and operating priorities, growth initiatives and strategies, technology investments, marketing plans, capital allocation, governance enhancements, the execution risk that may result by replacing the entire board and expectations for fiscal 2027 and beyond. These statements are subject to risks and uncertainties, including those described in Item 1A of the Company’s Annual Report on Form 10-K and in its other filings with the SEC, which could cause actual results to differ materially from those anticipated. Forward-looking statements speak only as of the date made, and the Company undertakes no obligation to update them except as required by law.

​About Ethan Allen

Ethan Allen (NYSE: ETD) is a leading interior design destination combining state-of-the-art technology with personal service. Ethan Allen design centers, which represent a mix of Company-operated and independent licensee locations, offer complimentary interior design service and sell a full range of home furnishings, including custom furniture and artisan-crafted accents for every room in the home. Vertically integrated from product design through logistics, the Company manufactures about 75% of its custom-crafted furniture in its own North American manufacturing facilities and has been recognized for product quality and craftsmanship since 1932. Learn more at www.ethanallen.com and follow Ethan Allen on Facebook, Instagram, and LinkedIn.

Investor Relations Contacts

Ethan Allen Contact
Matt McNulty, Senior Vice President, Chief Financial Officer and Treasurer
IR@ethanallen.com

Investor Contact
Chris Hayden / Bill Fiske, Georgeson LLC
ethanallen@georgeson.com

Media Contact
Phil Denning / Gabriel Hasson, ICR LLC
ETD@icrinc.com

---

¹ Source: FactSet. The 49.1% and 45.2% TSR figures cover the five-year periods ended September 21, 2026 and August 4, 2026, respectively, and include reinvested dividends. The fiscal 2026 peer group disclosed in the Company’s 2026 proxy statement consists of Arhaus, Bassett Furniture Industries, Culp, Flexsteel Industries, HNI, Hooker Furnishings, Haverty Furniture Companies, La-Z-Boy, The Lovesac Company, MillerKnoll, Purple Innovation and RH. Arhaus is excluded from the five-year comparison because it lacks complete trading data for the full period. Accordingly, the comparison includes the remaining 11 proxy peers.

² Source: FactSet. TSR includes reinvested dividends. Arhaus is excluded from the five-year calculation because it began trading publicly on November 4, 2021.

³ Source: Neiman Marcus Group announcement, May 7, 2020.

⁴ Source: Bloomberg interview transcript, August 7, 2026, 6:34-7:23, filed with the SEC.

⁵ Source: Bloomberg interview transcript, August 5, 2026, filed with the SEC.

Strong Operational Execution and Progress Across Customer Deployments, Commercial Partnerships and Product Development

Revenue Increased 14% Year-Over-Year, Including 34% Growth in QPU-Related Services Revenue

PARIS and NEW YORK, Sept. 24, 2026 (GLOBE NEWSWIRE) — Pasqal Holding SA (Nasdaq: PSQL), a global leader in neutral-atom quantum computing, today announced its financial results for the first half of 2026, covering the six months ended June 30, 2026.

First Half 2026 Financial Highlights

• Revenue of €4.9 million, an increase of 14% year-over-year.
• QPU-related services revenue of €3.9 million, an increase of 34% year-over-year.
• Booked and awarded business¹ of €70.4 million as of June 30, 2026.
• Operating loss of €59.2 million, which included €37.5 million in share based payments and one-time charges, as compared with €19.8 million in the first half of 2025, which included €1.0 million in share based payments.
• Shared based payment charges amounted to €27.3 million in the first half of 2026, compared to €1.0 million in the first half of 2025. One-time transaction-related expenses incurred in connection with the completion of the business combination and the related listing process amounted to €10.2 million in the first half of 2026.
• Cash and cash equivalents of €110.8 million as of June 30, 2026. Strong balance sheet to fund growth with cash and cash equivalents of approximately €312.9 million as of August 27, 2026, following the successful business combination with Bleichroeder Acquisition Corp. II and related financing transactions as described below.

(1) Booked and awarded business include grants, tax credit and multi-year customer contracts.

“During the first half of 2026, we continued to deepen our engagement with our customers of choice across financial services, energy and advanced materials to solve high-value business problems and integrate quantum computing into real-world workflows. As demonstrated by our expanding relationships with organizations including NVIDIA, Google, Saudi Aramco and Crédit Agricole, the ability to deliver quantum advantage on meaningful applications today is driving commercial momentum, strengthening our backlog and validating quantum computing as a practical tool for creating measurable value for enterprise customers,” said Dr. Wasiq Bokhari, Chief Executive Officer of Pasqal.

“At the same time, we continue to execute against our roadmap. Recent milestones, including the demonstration of more than 1,000 physical qubits, industry-leading progress in logical qubits, and the successful application of our systems to solve complex differential equations and simulate materials beyond the practical reach of classical computing, reinforce our confidence in the strength and differentiation of Pasqal’s neutral-atom approach and position the Company to capitalize on the growing demand for practical quantum computing solutions,” continued Dr. Bokhari.

“Importantly, Pasqal’s capital-efficient business model enables us to pursue these technology and commercial objectives without the significant infrastructure investments required by many alternative quantum architectures. By leveraging a highly scalable neutral-atom platform that can be deployed in conventional data center environments, we are able to bring quantum solutions to customers more quickly, lower total cost of ownership, and accelerate the transition from research programs to production applications. This capital efficiency benefits both Pasqal and our customers, allowing us to focus resources on delivering practical solutions to real-world business challenges today while advancing toward fault-tolerant quantum computing.”

“As we enter the second half of the year as a publicly traded company, we believe Pasqal is uniquely positioned at the intersection of scientific innovation and commercial adoption. With a growing portfolio of customer engagements, a differentiated technology platform, a disciplined approach to capital allocation, and a strong balance sheet to support future growth, we remain focused on delivering practical quantum solutions that create value today while building the foundation for the next generation of quantum computing.”

First Half 2026 Business and Technological Highlights

• Introduced New Integration with NVIDIA CUDA-Q: Integrated NVIDIA CUDA-Q with Pasqal’s platform to advance hybrid quantum-classical computing and simplify deployment of quantum workloads within existing HPC infrastructure.
• Experimental Validation of Quantum Simulation: Pasqal and its academic partners used up to 256 atoms on Pasqal’s Orion Beta QPUs to simulate the magnetic material TmMgGaO₄ and compared the results against laboratory measurements on crystals of that material. The work was among the studies cited by Nature on March 30, 2026, in its coverage of quantum simulations being verified against experimental data for the first time.
• Scaling of the Qubit Register: Pasqal prepared defect-free registers of 1,024 atoms, doubling its previous result of 506 atoms, and extended atom lifetimes approximately 40-fold through a redesigned cryogenic platform.
• Research Milestone in Logical Qubit Computing: Pasqal executed a full machine-learning application for solving differential equations using logical qubits, with the logical implementation outperforming its physical-qubit counterparts, in what the Company believes to be the first such comparison on a full application rather than on isolated sub-routines.
• Selected as XPRIZE Quantum Applications Finalist: Pasqal is one of five teams advancing in the XPRIZE Quantum Applications competition, a three-year global initiative sponsored by Google Quantum AI and the Geneva Science and Diplomacy Anticipator (GESDA) to accelerate the development of quantum computing solutions for real-world challenges. Final results are expected to be announced in 2027.
• Partnered with True Nexus to Apply Quantum Computing to Next‑Generation Food Protein Design: The partnership aims to create advanced computational models for protein functionality, expanding Pasqal’s presence in industrial applications and demonstrating the potential of neutral-atom quantum systems in life sciences and sustainable food innovation.
• Launched Saudi Arabia’s First Quantum Computer and the Middle East’s First Commercial Quantum Computing as a Service Platform: The deployment provides cloud-based access to a 200-qubit neutral-atom system and marks a significant milestone in the commercialization of quantum computing for industrial applications.
• Advanced Strategic Partnership with Crédit Agricole CIB to Deploy Quantum Computing Applied to Finance: The strategic partnership is expected to accelerate the transition from quantum research to operational deployment in capital markets activities.
• Deployed Italy’s First Neutral Atom Quantum Computer: Delivered a 140-qubit system designed for integration with the Leonardo supercomputer, expanding Pasqal’s installed base of production quantum systems across strategic research and commercial computing centers.
• Strengthened Leadership Team: Appointed Stéphane Rougeot as Chief Financial Officer to lead Pasqal’s global finance organization.

Recent Developments

• Memo of Understanding (“MOU”) with Eleven Ventures: Announced a MOU with Eleven Ventures, a Kingdom of Saudi Arabia investment platform and venture capital firm, to establish a joint venture to deploy and commercialize Pasqal’s quantum computing systems across the Kingdom of Saudi Arabia.
• Collaboration with King Abdulaziz City for Science & Technology (“KACST”): Entered into research collaboration agreement with KACST to advance research and development in quantum technologies in the Kingdom of Saudi Arabia.
• Advance Next-Generation Technologies for Critical Mineral Production: Partnered with USA Rare Earth and Riven Systems to advance next-generation technologies for critical mineral production.
• Photon Integrated Circuit (“PIC”) Packaging Center of Competency: Launched, through its Canadian subsidiary Aeponyx Enterprises Inc. (“Aeponyx”), a Center of Competency in Photonic Integrated Circuit (“PIC”) Packaging at the C2MI in Bromont, Quebec, intended to establish a domestic Canadian supply chain supporting the photonic layer of Pasqal’s hardware roadmap.
• PIC Trapped Atoms Further Enhancing Technological Roadmap: Pasqal trapped individual atoms using laser light generated by a PIC, holding four rubidium atoms in four optical traps from a single photonic chip with lifetimes of approximately 27.5 seconds, matching the Company’s bulk-optics systems. The platform was co-developed with Aeponyx, acquired less than 18 months earlier, and reduces the optical footprint by up to a factor of 50, addressing a principal constraint on manufacturing neutral-atom processors at industrial scale.

Earnings Conference Call

Pasqal will host a conference call to discuss the Company’s first half 2026 financial results on Thursday, September 24, 2026, at 8:00 a.m. Eastern Time. Those wishing to participate via telephone may dial 1-877-497-9071 (U.S. and Canada) or 1-201-689-8727 (international). A live audio webcast of the conference call can be accessed through Pasqal’s Investor Relations website at https://investors.pasqal.com, and a webcast replay will be accessible following the scheduled call.

About Pasqal

Pasqal (Nasdaq: PSQL) helps organizations tackle problems that are difficult or impossible to solve with conventional computing methods alone. Founded in 2019 on Nobel Prize–winning research, Pasqal builds and operates neutral-atom quantum computers, delivered with a full software stack, for industry, science, and governments. Pasqal’s production-ready systems are available both on-premises and through the cloud, enabling organizations to harness quantum computing without requiring in-house quantum expertise. A single hardware platform supports analog workloads today and is designed to evolve toward fault-tolerant quantum computing in the future.

Headquartered in France with operations globally, Pasqal’s quantum computing systems are used by customers across energy, financial services and advanced materials to address complex challenges. Pasqal’s customers include Saudi Aramco, Crédit Agricole CIB, LG Electronics and supported by partnerships with NVIDIA and IBM (Pasqal is part of the IBM Quantum Network).

Forward-Looking Statements

Certain statements herein may be considered “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Forward-looking statements generally are accompanied by words such as “believe,” “may,” “might”, “will,” “estimate,” “continue,” “anticipate,” “intend,” “expect,” “should,” “would,” “could,” “plan,” “predict,” “project”, “forecast,” “potential,” “seem,” “seek,” “target,” “possible,” “future,” “outlook” or similar terminology or expressions that predict or indicate future events or trends. These forward-looking statements include, but are not limited to, statements regarding future events, including Pasqal’s expected use of cash available at closing of the business combination and Pasqal’s ability to accelerate global deployment of its quantum computing platform.

These statements are based on current expectations and are not predictions of actual performance. They are provided for illustrative purposes only and must not be relied on as a guarantee, prediction or definitive statement of fact or probability. Actual events and circumstances are difficult or impossible to predict and are beyond the control of Pasqal. These statements are subject to known and unknown risks and uncertainties and assumptions regarding Pasqal’s business and the business combination, and actual results may differ materially. These risks and uncertainties include, but are not limited to: general economic, political, social and business conditions; uncertainty or changes with respect to laws and regulations; risks related to Pasqal’s indebtedness; the risk from Pasqal pursuing an emerging technology, facing significant technical challenges and the potential that it may not achieve commercialization or market acceptance; Pasqal’s reliance on strategic partners and other third parties; Pasqal’s ability to maintain, protect and defend its intellectual property rights; and other risks that will be detailed from time to time in filings with the U.S. Securities and Exchange Commission. The foregoing list of risk factors is not exhaustive. There may be additional risks that Pasqal does not know or currently believes are immaterial that could also cause actual results to differ from those contained in forward-looking statements. In addition, forward-looking statements provide Pasqal’s expectations, plans and forecasts of future events and views as of the date of this communication. While Pasqal may elect to update these forward-looking statements in the future, Pasqal specifically disclaims any obligation to do so.

Contact:

Investors
investors@pasqal.com 

Media
pr@pasqal.com

CONDENSED CONSOLIDATED STATEMENTS OF FINANCIAL POSITION (UNAUDITED)

In € thousand	June 30, 2026	December 31, 2025
Goodwill	19,643	19,676
Other intangible assets	18,858	17,451
Property, plant and equipment, net	30,346	28,119
Right-of-use assets	8,346	8,978
Deposits	8,802	8,421
Government grant receivables	8,667	1,198
Total non-current assets	94,662	83,844
Inventories, net	11,796	11,309
Trade receivables	6,109	5,608
Government grant receivables	3,009	8,181
Tax receivables	5,315	3,111
Other current assets	3,110	2,010
Cash and cash equivalents	110,835	73,762
Total current assets	140,175	103,980
Total Assets	234,837	187,824
In € thousand	June 30, 2026	December 31, 2025
Share capital	868	715
Share premium	211,131	70,158
Accumulated deficit	(124,889)	(32,533)
Other reserves	95,196	49,601
Loss for the period	(53,236)	(92,355)
Total equity	129,070	(4,415)
Borrowings	7,796	7,640
Lease liabilities	9,359	9,627
Employee benefit liabilities	15,161	11,051
Deferred tax liabilities	379	366
Deferred income from government grants	10,023	9,484
Total non-current liabilities	42,719	38,168
Borrowings	2,854	105,164
Lease liabilities	520	524
Provisions	357	356
Trade and other payables	13,911	9,556
Contract liabilities	28,237	22,977
Deferred income from government grants	6,931	7,409
Other current liabilities	10,237	8,084
Total current liabilities	63,048	154,070
Total shareholder’s equity and liabilities	234,837	187,824

CONDENSED CONSOLIDATED STATEMENTS OF PROFIT OR LOSS AND OTHER COMPREHENSIVE INCOME (UNAUDITED)

	Six-month period ended
In € thousand	June 30, 2026	June 30, 2025
Revenue	4,872	4,286
Government grant income	2,950	3,544
Other operating income	182	1,275
Purchases of material	(2,569)	(2,692)
Changes in inventory	1,372	1,825
Employee salaries and benefit expenses	(41,594)	(15,353)
Professional services and other services	(19,553)	(8,261)
Depreciation and amortization	(4,302)	(4,396)
Other operating expenses	(518)	–
Operating loss	(59,161)	(19,773)
Change in fair value of financial liabilities at FVTPL	7,048	(3,033)
Finance income	1,414	1,101
Interest expense	(1,996)	(1,838)
Other financial expense	(521)	(2,608)
Loss before tax	(53,216)	(26,150)
Income (expense) tax benefit	(20)	31
Loss for the period	(53,236)	(26,118)
Other comprehensive loss	June 30, 2026	June 30, 2025
Items that may be reclassified to profit or loss in subsequent periods	(311)	10
Foreign currency translation adjustments	(311)	10
Items that will not be reclassified to profit or loss / income in subsequent periods	(11)	14
Remeasurement of defined benefit plans	(14)	19
Income tax impact	4	(5)
Other comprehensive (loss) / income for the period, net of tax	(322)	24
Total comprehensive loss for the period	(53,558)	(26,094)
Loss per share
Basic losses per share	(6.6)	(3.8)
Diluted losses per share	(7.3)	(3.8)

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED)

	Six-month period ended
in € thousand	June 30, 2026	June 30, 2025
CASH FLOW USED IN OPERATING ACTIVITIES
Cash used in operations	(25,194)	(19,956)
Net cash flows used in operating activities	(25,194)	(19,956)
CASH FLOW USED IN INVESTING ACTIVITIES
Acquisition of property, plant and equipment	(2,042)	(4,908)
Acquisition of intangible assets	(2,423)	(147)
Proceeds from sale of intangible asset	–	112
Receipt of government grants	375	1,359
Change in deposits	(380)	596
Purchases of subsidiary	(500)	(157)
Net cash flows used in investing activities	(4,970)	(3,145)
CASH FLOW FROM FINANCING ACTIVITIES
Proceeds from borrowings	83	43,518
Repayment of borrowings and lease liabilities	(1,123)	(1,588)
Interest paid	(188)	(407)
Proceeds from capital increases	68,480	–
Net cash flows from financing activities	67,251	41,523
Net increase in cash and cash equivalents	37,087	18,422
Cash and cash equivalents at the beginning of the six-month period	73,762	7,163
Effects of exchange rate changes on cash and cash equivalents	(14)	(61)
Cash and cash equivalents at the end of the six-month period	110,835	25,524

Fourth Annual Collaboration Coincides with Breast Cancer Awareness Month

NORWOOD, Mass., Sept. 24, 2026 (GLOBE NEWSWIRE) — Betty’s Eddies™, the all-natural cannabis fruit chews handcrafted for specific health and wellness effects, announced today its fourth annual collaboration with the Keep A Breast Foundation (“KAB”). The collaboration, which furthers the brand’s commitment to breast cancer awareness, early screening education, and community support, kicks off this week as a lead-up to October’s Breast Cancer Awareness Month. Betty’s Eddies, is produced and distributed by leading multi-state cannabis operator, MariMed Inc. (“MariMed”) (CSE: MRMD) (OTCQB: MRMD).

After years of hearing from patients and consumers who have used Betty’s Eddies to help cope with treatment-related ailments, the brand is continuing its mission to spotlight the power of cannabis alongside preventative health practices. The partnership with KAB once again features a limited-time pink package for the fan-favorite Ache Away Eddies fruit chews, available across Massachusetts, Maine, Maryland, Illinois, and Delaware. The packaging promotes the Keep A Breast app, a free resource on Apple and Google Play that educates users on self-checking, offers risk-reduction tips, and connects directly to medical professionals when needed. Ache Away Eddies, infused with CBD, CBC, and THC, plus turmeric, piperine, and vitamin E, may help ease inflammation and aid recovery.

New to this year’s campaign is a retail round-up initiative at all 12 Thrive dispensary locations in participating states. Customers will be invited to round up their purchases to support the Keep A Breast Foundation, with all proceeds from the program benefiting KAB and its breast cancer awareness and education initiatives. Customers who participate will receive a Betty’s Eddies and Keep A Breast co-branded bracelet, while supplies last.

“Each year, our partnership with Betty’s Eddies creates new opportunities to reach people with education about breast health and the importance of early detection,” said Shaney Jo Darden, Founder of the Keep A Breast Foundation. “We’re especially excited about this year’s retail round-up initiative, which invites customers to directly support our mission. Together, we’re making breast health education more accessible and empowering more people to take an active role in their health.”

“Betty’s Eddies is deeply committed to promoting health and wellness in a fun, engaging, and educational way,” said Sara Rosenfield, Brand Manager for Betty’s Eddies. “Our continued partnership with the Keep A Breast Foundation is a natural extension of that commitment. We’re proud to make a meaningful impact on consumers by helping raise awareness about breast health, encouraging proactive screening, and connecting people with resources that can make a difference in their lives. Through this partnership, we’re continuing to support KAB’s important work while sharing how cannabis may provide relief for those navigating health challenges.”

About MariMed
MariMed Inc. is a leading multi-state cannabis operator, known for developing and managing state-of-the-art cultivation, production, and retail facilities. Our award-winning portfolio of cannabis brands, including Betty’s Eddies™, Bubby’s Baked™, Vibations™, InHouse™, and Nature’s Heritage™, sets us apart as an industry leader. These trusted brands, crafted with quality and innovation, are recognized and loved by consumers across the country. With a commitment to excellence, MariMed continues to drive growth and set new standards in the cannabis industry. For additional information, visit www.marimedinc.com.

Media Contact:
Zach Galasso
DPA Communications
Email: zach@dpacommunications.com
Phone: (978) 604-5423

Company Contact:
Howard Schacter
Chief Communications Officer
Email: hschacter@marimedinc.com
Phone: (781) 277-0007

TORONTO and HOUSTON, Sept. 24, 2026 (GLOBE NEWSWIRE) — Medicenna Therapeutics Corp. (“Medicenna” or the “Company”) (TSX: MDNA, OTCQX: MDNAF), a clinical-stage immunotherapy company developing Superkines for targeting cancer and autoimmune disease, today announced that an abstract evaluating survival outcomes with bizaxofusp (formerly MDNA55) in unresectable, IDH-wildtype recurrent glioblastoma (rGBM) has been selected for an oral presentation at the 31st Annual Meeting of the Society for Neuro-Oncology (SNO 2026), taking place November 12-15, 2026, in Philadelphia.

The oral presentation will be delivered by Dr. Nicholas A. Butowski, MD, Professor of Neurological Surgery and Director of Translational Research, Neuro-Oncology at the University of California, San Francisco.

“Selection for an oral presentation at SNO highlights the interest of the neuro-oncology community in the continued clinical development of bizaxofusp for patients with recurrent glioblastoma,” said Fahar Merchant, PhD, President and Chief Executive Officer of Medicenna. “We look forward to presenting this survival analysis in the intended Phase 3 population and continue engaging with leading clinicians, researchers and potential pharma partners during SNO 2026.”

Details of the oral presentation are as follows:

Presentation Type: Oral Presentation
Title: Survival outcomes with bizaxofusp (MDNA55) in unresectable IDH-wildtype recurrent glioblastoma (rGBM) using a propensity score-weighted external control arm (ECA) in the intended Phase 3 population
Session: Clinical Trials Oral Abstracts Session I
Presenter: Nicholas A. Butowski, MD, University of California, San Francisco
Date and Time: Friday, November 13, 2026, 10:36 a.m. ET
Group Q&A: Friday, November 13, 2026, 10:43 a.m. ET
Location: Room 118 ABC, First Floor, Pennsylvania Convention Center, Philadelphia

About Bizaxofusp
Bizaxofusp (formerly MDNA55) is Medicenna’s IL-4 Empowered Superkine that has been evaluated in more than 130 patients across five clinical trials, including a Phase 2b study in recurrent glioblastoma. Bizaxofusp is designed to selectively target the interleukin-4 receptor (IL-4R), which is overexpressed by glioblastoma cells and cells in the tumor microenvironment, and is administered directly into the tumor using convection-enhanced delivery. Bizaxofusp has received Fast Track designation from the U.S. Food and Drug Administration and Orphan Drug designation in the United States and Europe.

About Medicenna Therapeutics
Medicenna is a clinical-stage immunotherapy company developing engineered cytokine therapies designed to selectively engage the immune system to treat cancer. The Company’s most advanced program, bizaxofusp (formerly MDNA55), is a targeted IL-4 Empowered Superkine that has been evaluated in more than 130 patients across five clinical trials, including a Phase 2b study in recurrent glioblastoma. Bizaxofusp has received Fast Track designation from the FDA and Orphan Drug designation in the United States and Europe. Medicenna is also advancing MDNA11, a long-acting IL-2 Superkine designed to selectively activate cancer-fighting immune cells, which is currently being evaluated in the Phase 1/2 ABILITY-1 study and the Phase 1b NEO-CYT study. The Company is also developing MDNA113, a targeted PD-1 x IL-2 bifunctional immunotherapy for solid tumors, and MDNA209, an antagonist of CD122 blocking IL-2/IL-15 signaling, using its proprietary BiSKIT and T-MASK platforms.

For more information, please visit www.medicenna.com, and follow us on X and LinkedIn.

Forward-Looking Statements

This news release contains forward-looking statements within the meaning of applicable securities laws. Forward-looking statements include, but are not limited to, express or implied statements regarding the future operations of the Company, estimates, plans, strategic ambitions, partnership activities and opportunities, objectives, expectations, opinions, forecasts, projections, guidance, outlook or other statements that are not historical facts. Forward-looking statements are often identified by terms such as “will”, “may”, “should”, “anticipate”, “expect”, “believe”, “seek”, “potentially” and similar expressions. and are subject to risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from the Company’s expectations include the risks detailed in the latest annual information form of the Company and in other filings made by the Company with the applicable securities regulators from time to time in Canada.

The reader is cautioned that assumptions used in the preparation of any forward-looking information may prove to be incorrect. Events or circumstances may cause actual results to differ materially from those predicted, as a result of numerous known and unknown risks, uncertainties, and other factors, many of which are beyond the control of the Company. The reader is cautioned not to place undue reliance on any forward-looking information. Such information, although considered reasonable by management, may prove to be incorrect and actual results may differ materially from those anticipated. Forward-looking statements contained in this news release are expressly qualified by this cautionary statement. The forward-looking statements contained in this news release are made as of the date hereof and except as required by law, we do not intend and do not assume any obligation to update or revise publicly any of the included forward-looking statements.

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

Investor/Company Contact
Daniel Scarr
Director, Corporate Development
Medicenna Therapeutics
ir@medicenna.com

STAMFORD, Conn., Sept. 24, 2026 (GLOBE NEWSWIRE) — The Lovesac Company (Nasdaq: LOVE) (“Lovesac” or the “Company”), the Designed for Life home and technology brand best known for its Sactionals, The World’s Most Adaptable Couch, announced today that the Company is scheduled to participate in the 2026 Global Consumer & Retail Conference hosted by Telsey Advisory Group in collaboration with Santander Corporate & Investment Banking on Thursday, October 8, 2026, at 2:45 p.m. Eastern Time.

The fireside chat will be webcast live over the Internet and can be accessed on the Company’s Investor Relations website, investor.lovesac.com. An online archive will be available on that site following the event.

About The Lovesac Company

Based in Stamford, Connecticut, The Lovesac Company (NASDAQ: LOVE) is a technology driven company that designs, manufactures and sells unique, high quality furniture derived through its proprietary Designed for Life approach which results in products that are built to last a lifetime and designed to evolve as customers’ lives do. The current product offering is comprised of modular couches called Sactionals, the Sactionals Reclining seat, premium foam beanbag chairs called Sacs, the PillowSac Chair, an immersive surround sound home theater system called StealthTech, and an innovative sofa seating solution called Snugg™. As a recipient of Repreve’s 9th Annual Champions of Sustainability Award and Edison Awards’ 38th Annual Best New Product Awards for Sustainable Consumer Products and 39th Annual Bronze Award for Human-Centric Domestic Solutions, responsible production and innovation are at the center of the brand’s design philosophy with products protected by a robust portfolio of utility and design patents. Products are marketed and sold primarily online directly at www.lovesac.com, supported by a physical retail presence in the form of Lovesac branded showrooms, as well as through shop-in-shops and pop-up-shops with third party retailers. LOVESAC, DESIGNED FOR LIFE, PILLOWSAC, SACTIONALS, SAC, STEALTHTECH, LOVESOFT, and THE WORLD’S MOST ADAPTABLE COUCH are trademarks of The Lovesac Company and are registered in the U.S. Patent and Trademark Office.

Investor Relations Contact:
Caitlin Churchill, ICR
Colton West, ICR
(203) 682-8200
InvestorRelations@lovesac.com

NEW YORK, Sept. 24, 2026 (GLOBE NEWSWIRE) — OTC Markets Group Inc. (OTCQX: OTCM), operator of regulated markets for trading 12,000 U.S. and international securities, today announced Virginia-based Bank of Botetourt (OTCQX: BORT, BORTP), a full-service community bank, has qualified to trade on the OTCQX® Best Market. Bank of Botetourt upgraded to OTCQX from the OTCID™ Basic Market.

Bank of Botetourt begins trading today on OTCQX under the symbol “BORT, BORTP.” U.S. investors can find current financial disclosure and Real-Time Level 2 quotes for the company on www.otcmarkets.com.

Founded in 1899, Bank of Botetourt has built a legacy of financial strength, relationship banking, and community leadership. Today, the Bank serves its customers through multiple branch locations while maintaining a deep commitment to the communities it calls home. Through charitable giving, employee volunteerism, and strategic partnerships with local businesses and organizations, Bank of Botetourt works to support economic development and improve the quality of life throughout its market area. This commitment to community engagement remains a cornerstone of the Bank’s long-term success and shareholder value.

Graduating to the OTCQX Market marks an important milestone for community banks in the U.S. public markets. The OTCQX Market enables banks to maximize the value of being a public company by providing transparent trading and easy access to company information for shareholders. To qualify for OTCQX, community banks must meet high financial standards, follow best practice corporate governance, and demonstrate compliance with applicable securities laws.

Executive Vice President & CFO, Dustin Bays stated, “Trading on the OTCQX Market marks an exciting new chapter for Bank of Botetourt. This transition enhances the visibility of our company, provides our shareholders with access to a premier public marketplace, and supports greater transparency for investors. As we continue to execute our long-term strategy, we believe the OTCQX platform will help broaden investor awareness and contribute to the creation of lasting shareholder value, while allowing us to remain focused on delivering exceptional service to our customers and communities.”

Raymond James and Associates acted as Bank of Botetourt’s corporate broker.

Trading in U.S. community banks on OTCQX reached $464M in dollar volume the second quarter of 2026. OTC Markets recorded $453.34B in total dollar volume in the first half of the year. In the second quarter of 2026, 104 banks traded on OTCQX with an average market capitalization of $166M.

About Bank of Botetourt
Founded in 1899, Bank of Botetourt is a full-service community bank dedicated to helping individuals, families, businesses, and organizations achieve their financial goals through personalized service, local decision-making, and trusted relationships. Offering personal banking, business banking, mortgage lending, and wealth management services throughout western Virginia, the Bank is known for its award-winning service, financial strength, and unwavering commitment to the communities it serves. For more than 125 years, Bank of Botetourt has remained focused on delivering exceptional customer experiences while supporting the economic vitality of the region. 

About OTC Markets Group Inc.
OTC Markets Group Inc. (OTCQX: OTCM) operates regulated markets for trading 12,000 U.S. and international securities. Our data-driven disclosure standards form the foundation of our public markets: OTCQX® Best Market, OTCQB® Venture Market, OTCID™ Basic Market and Pink Limited™ Market. Our OTC Link® Alternative Trading Systems (ATSs) provide critical market infrastructure that broker-dealers rely on to facilitate trading. Our innovative model offers companies more efficient access to the U.S. financial markets.

OTC Link ATS, OTC Link ECN, OTC Link NQB, OTC Overnight® and MOON ATS® are each an SEC regulated ATS, operated by OTC Link LLC, a FINRA and SEC registered broker-dealer, member SIPC.

To learn more about how we create better informed and more efficient markets, visit www.otcmarkets.com.

Media Contact:   OTC Markets Group Inc., +1 (212) 896-4428, media@otcmarkets.com

• FDA clearance expands development of forazapadin into a second degenerative muscle disease with significant unmet medical need
• FSHD Canada Foundation to provide up to US$5 million in non-dilutive financing toward the clinical development of forazapadin in FSHD
• Phase 2 study in FSHD expected to begin in Q4 2026

TORONTO, Sept. 24, 2026 (GLOBE NEWSWIRE) — Satellos Bioscience Inc. (NASDAQ: MSLE, TSX: MSCL), a clinical-stage drug development company developing potentially life-improving medicines to treat degenerative muscle diseases, today announced that the U.S. Food and Drug Administration (FDA) has cleared its Investigational New Drug (IND) application for forazapadin for the treatment of facioscapulohumeral muscular dystrophy (FSHD). The company plans to initiate a Phase 2 clinical study in FSHD in the fourth quarter of 2026. Satellos also announced that the FSHD Canada Foundation has agreed to provide up to US$5 million in non-dilutive financing toward the clinical development of forazapadin in FSHD.

“We believe the biology targeted by forazapadin has the potential to address significant unmet needs in degenerative muscle diseases, and our expansion into FSHD reflects the broad potential of our muscle regeneration approach,” said Frank Gleeson, co-founder and chief executive officer of Satellos. “Progress in medicine happens when researchers, clinicians, industry partners and advocacy organizations come together around a common goal, and we are grateful to the FSHD Canada Foundation for its partnership and confidence in our work. This support is expected to enable us to advance forazapadin into clinical development in FSHD and extend our muscle regeneration strategy to a second patient community.”

“People living with FSHD, like me, are eager to find treatments that can stop our muscles from getting weaker. But we would also like to get some of those muscles back,” said Neil Camarta, co-founder of the FSHD Canada Foundation. “That is what makes this announcement so meaningful. Seeing forazapadin advance into clinical trials to evaluate the potential for muscle regeneration in FSHD is an important step for our community. While we know there is still a long road ahead, it is encouraging to see innovative approaches like this moving into the clinic. FSHD Canada appreciates the support we received from our friends at Solve FSHD, the FSHD Society and FSHD Global in helping make this possible. Time is muscle!”

The collaboration between Satellos and the FSHD Canada Foundation provides non-dilutive capital to advance forazapadin’s clinical development in FSHD. Under the agreement, the Foundation has agreed to contribute up to US$5 million in milestone payments over the next five quarters in exchange for a capped revenue-sharing interest in future FSHD-related proceeds. The funds are expected to support the IND-cleared Phase 2 randomized, double-blind, placebo-controlled proof-of-concept clinical study designed to evaluate the safety, tolerability, pharmacokinetics and potential efficacy of orally administered forazapadin at 60 mg and 120 mg doses in adults aged 18 and older living with FSHD, which we expect to initiate in the fourth quarter of 2026.

Wildon Farwell, M.D, chief medical officer of Satellos added, “We are excited to receive FDA clearance of our IND application for forazapadin in a second disease indication, one for which there are currently no approved therapies. FSHD is a genetic disease in which muscle regeneration appears to be compromised. We look forward to working with the FSHD community to evaluate the potential of forazapadin to impact muscle regeneration and benefit people living with FSHD. In particular, we are delighted that the clearance included 60 mg and 120 mg dose levels of forazapadin, enabling evaluation of two doses of our small molecule drug candidate.”

FSHD is one of the most common forms of muscular dystrophy, affecting an estimated 800,000 individuals worldwide. It is caused by abnormal activation of the DUX4 gene, which damages muscle and contributes to progressive muscle weakness. Symptoms often begin in the muscles of the face, shoulders and upper arms before progressing to other parts of the body. The severity and rate of progression vary from person to person, and there are currently no approved disease-modifying therapies.

The clearance of this IND represents the second clinical indication for which forazapadin is being developed. Forazapadin is currently being evaluated for Duchenne muscular dystrophy (DMD), where preliminary data from an ongoing Phase 2 clinical trial in adults living with DMD showed a favorable safety profile, reduced muscle fat fraction as measured by MRI, and increased total effort observed after six months of treatment at 60 mg. The company believes these findings may be consistent with muscle regeneration.

ABOUT FORAZAPADIN
Forazapadin is a proprietary, oral, small molecule drug candidate being developed by Satellos as a novel approach to regenerating skeletal muscle lost in degenerative muscle diseases or injury conditions. Forazapadin targets AAK1, a key protein identified by Satellos as believed to be capable of helping restore the body’s natural muscle repair and regeneration biology, a fundamental process that is disrupted in DMD, FSHD and other degenerative conditions. By inhibiting AAK1, forazapadin treatment aims to re-establish a biochemical signal believed to be involved in supporting muscle regeneration. Satellos is advancing forazapadin as a potential treatment for DMD that is independent of dystrophin and applicable regardless of exon mutation status as either a stand-alone or adjunctive therapy, with ongoing Phase 2 clinical studies including BASECAMP, a global, randomized, placebo-controlled study in pediatric participants, and TRAILHEAD, an open-label study in adult participants. A Phase 2 clinical study to evaluate the safety, efficacy and tolerability of forazapadin in adults with FSHD is expected to begin in the fourth quarter of 2026.

The company previously referred to the program as SAT-3247 and expects to transition to broader use of the program’s International Nonproprietary Name, forazapadin, in future scientific, regulatory and corporate communications.

ABOUT SATELLOS BIOSCIENCE INC.
Satellos is a clinical-stage drug development company focused on restoring natural muscle repair and regeneration in degenerative muscle diseases. Through its research, Satellos has developed forazapadin, an orally administered small molecule AAK1 inhibitor designed to address deficits in muscle repair and regeneration. Forazapadin is being evaluated as a potential disease-modifying treatment for Duchenne muscular dystrophy (DMD) in two Phase 2 clinical trials, BASECAMP in pediatric participants with DMD and TRAILHEAD in adults living with DMD. The FDA also cleared an Investigational New Drug (IND) application for the clinical evaluation of forazapadin for the treatment of facioscapulohumeral muscular dystrophy (FSHD). The company has identified additional muscle diseases and injury conditions where restoring muscle repair and regeneration may have therapeutic benefit and plans to pursue these opportunities in future clinical development. For more information, visit www.satellos.com and connect with Satellos on X, LinkedIn, Facebook and Instagram.

ABOUT THE FSHD CANADA FOUNDATION
The FSHD Canada Foundation is a Calgary-based charitable organization dedicated to finding a cure for facioscapulohumeral muscular dystrophy (FSHD), one of the most prevalent forms of muscular dystrophy affecting adults and children. Founded by Neil Camarta and Craig Kelley, the Foundation funds and partners on research, natural-history studies, biomarker development, and clinical programs aimed at advancing treatments for the FSHD community in Canada and worldwide. For more information, visit fshd.ca.

NOTICE ON FORWARD-LOOKING STATEMENTS
This press release includes forward-looking information or forward-looking statements within the meaning of applicable securities laws regarding Satellos and its business, which may include, but are not limited to, statements regarding: the evaluation of forazapadin as a disease-modifying treatment to Duchenne muscular dystrophy (DMD); the possibility of pursuing regulatory approval for forazapadin, the potential for forazapadin to represent a disease-modifying approach to the therapeutic treatment of people living with facioscapulohumeral muscular dystrophy (FSHD); forazapadin’s proposed mechanism of action, including statements regarding the role of AAK1 in muscle repair and regeneration; the interpretation of preliminary clinical data, including the belief that observed results may be consistent with muscle regeneration; forazapadin’s potential applicability as a treatment for DMD regardless of exon mutation status, whether as a stand-alone or adjunctive therapy; the enrollment in, advancement, design and timing of results of forazapadin through clinical trials, including the BASECAMP, TRAILHEAD and planned Phase 2 FSHD clinical trials and the anticipated design parameters thereof; the potential of forazapadin to address significant unmet needs across multiple degenerative muscle diseases and Satellos’ plans to pursue additional muscle diseases and injury conditions in future clinical development; forazapadin’s prospective impact on FSHD patients or patients with other degenerative muscle disease or muscle injury; the anticipated timing for evaluation in FSHD and the launch of a related Phase 2 clinical trial; contributions by FSHD Canada Foundation to advance forazapadin’s clinical development in FSHD, including the timing and amounts thereof, and Satellos’ anticipated use of such financing proceeds; Satellos’ technologies and drug development plans; and Satellos’ expectation for broader use of the program’s International Nonproprietary Name, forazapadin, in future scientific, regulatory and corporate communications. All statements that are, or information which is, not historical facts, including without limitation, statements regarding future estimates, plans, programs, forecasts, projections, objectives, assumptions, expectations or beliefs of future performance, occurrences or developments, are “forward-looking information or statements.” Often, but not always, forward-looking information or statements can be identified by the use of words such as “shall”, “intends”, “believe”, “plan”, “expect”, “intend”, “estimate”, “anticipate”, “potential”, “prospective”, “assert” or any variations (including negative or plural variations) of such words and phrases, or state that certain actions, events or results “may”, “might”, “can”, “could”, “would” or “will” be taken, occur, lead to, result in, or, be achieved. Such statements are based on the current expectations and views of future events of the management of the Company. These statements are based on assumptions and subject to risks and uncertainties. In making forward-looking statements, the Company has relied on various assumptions, including but not limited to: the validity of the company’s scientific hypotheses regarding AAK1 inhibition and muscle regeneration; the receipt of anticipated milestone payments under the FSHD Canada Foundation agreement; its ability to obtain future funding on favorable terms, if at all; obtaining positive results in its clinical trials; its ability to obtain necessary regulatory approvals; its ability to arrange for the manufacturing of its product candidates and technologies; and general business, market and economic conditions. Although management believes that the assumptions underlying these statements are reasonable, they may prove to be incorrect. The forward-looking events and circumstances discussed in this release, may not occur and could differ materially as a result of known and unknown risk factors and uncertainties affecting the Company, including, without limitation, risks relating to the pharmaceutical and bioscience industry (including the risks associated with preclinical and clinical trials and regulatory approvals), the research and development of therapeutics, the results of preclinical and clinical trials, the possibility that preliminary clinical data may not be replicated in later studies or that the company’s interpretation of such data may prove incorrect, general market conditions and equity markets, economic factors and management’s ability to manage and to operate the business of the Company generally, including inflation and the costs of operating a biopharma business, and those risks and uncertainties described in more detail in the “Risk Factors” section of Satellos’ Annual Information Form dated March 27, 2026, and amended and restated short form base shelf prospectus dated August 11, 2026 (each of which is located on Satellos’ SEDAR+ profile) and incorporated by reference in Satellos’ Form F-10 filed with the Securities and Exchange Commission on August 11, 2026, and in Satellos’ public filings on EDGAR (sec.gov) and SEDAR+ (sedarplus.ca). Although Satellos has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking statements, there may be other factors that cause actions, events or results to differ from those anticipated, estimated or intended. Accordingly, readers should not place undue reliance on any forward-looking statements or information. No forward-looking statement can be guaranteed. Except as required by applicable securities laws, forward-looking statements speak only as of the date on which they are made and Satellos does not undertake any obligation to publicly update or revise any forward-looking statement, whether resulting from new information, future events, or otherwise.

CONTACTS
Investors: Caitlin Lowie, Vice President, Investor Relations & Communications, ir@satellos.com
Media: Emily Williams, Senior Director, Communications, media@satellos.com

TORONTO, Sept. 24, 2026 (GLOBE NEWSWIRE) — J. P. Morgan Asset Management (JPMAM)* today announced the final September 2026 cash distributions for the below listed JPMorgan ETFs. The JPMorgan ETFs trade on the Toronto Stock Exchange (TSX). Unitholders of record on October 1, 2026 will receive cash distributions payable on October 7, 2026. Details of the “per unit” distributions are as follows:

JPMorgan ETF name	Ticker symbol	Distribution per unit ($)	Payment frequency
JPMorgan US Equity Premium Income Active ETF	JEPI	0.14594	Monthly
JPMorgan Nasdaq Equity Premium Income Active ETF	JEPQ	0.27751	Monthly
JPMorgan US Equity Premium Income Active ETF – CAD Hedged	JEPH	0.15107	Monthly
JPMorgan Nasdaq Equity Premium Income Active ETF – CAD Hedged	JPQH	0.21248	Monthly
JPMorgan US Value Active ETF	JAVA	0.06043	Quarterly
JPMorgan US Core Active ETF	JCOR	0.02571	Quarterly

To learn more about the JPMorgan ETFs, please visit www.jpmorgan.com/ca/advisors

For more information, please e-mail: jpmam.canada@jpmorgan.com

About J.P. Morgan Asset Management

J.P. Morgan Asset Management, with assets under management of US$4.4 Trillion¹ (as of December 31, 2025), is a global leader in investment management. J.P. Morgan Asset Management’s clients include institutions, retail investors and high net worth individuals in every major market throughout the world. J.P. Morgan Asset Management offers global investment management in equities, fixed income, real estate, hedge funds, private equity and liquidity. For more information: www.jpmorganassetmanagement.com.

* Legal entity in Canada: JPMorgan Asset Management (Canada) Inc.

¹ Source: J.P. Morgan Asset Management, as of December 30, 2025.

Commissions, trailing commissions, management fees and expenses all may be associated with ETF investments. Please read the prospectus before investing. ETFs are not guaranteed, their values change frequently and past performance may not be repeated.

Past returns are not necessarily indicative of future performance. You should not rely on or view any past performance as a guarantee of future investment performance.

Nasdaq^®, Nasdaq-100 Index^®, Nasdaq 100^® and NDX^® are registered trademarks of Nasdaq, Inc. (which with its affiliates is referred to as the “Corporations”) and are licensed for use by J.P. Morgan Asset Management (Canada) Inc. and J.P. Morgan Investment Management Inc. JPMorgan Nasdaq Equity Premium Income Active ETF has not been passed on by the Corporations as to its legality or suitability. This ETF is not issued, endorsed, sold, or promoted by the Corporations. THE CORPORATIONS MAKE NO WARRANTIES AND BEAR NO LIABILITY WITH RESPECT TO THIS ETF.

This communication is issued in Canada, by JPMorgan Asset Management (Canada) Inc. is a registered Portfolio Manager and Exempt Market Dealer in all Canadian provinces and territories except the Yukon, and an Investment Fund Manager in British Columbia, Ontario, Quebec, and Newfoundland and Labrador. It is also a Derivatives Adviser in Manitoba, a Commodity Trading Manager in Ontario, and a Derivatives Portfolio Manager in Quebec.​

J.P. Morgan Asset Management is the brand for the asset management business of JPMorgan Chase & Co. and its affiliates worldwide.

Velinotamig (BCMA TCE) multi-dose regimen data in SLE at ACR Convergence 2026 in November 

CLN-978 (CD19 TCE) multi-dose regimen data in SLE, RA and Sjögren’s disease in December

CLN-049 (FLT3 TCE) updated data from the Phase 1 dose escalation study in December

CAMBRIDGE, Mass., Sept. 24, 2026 (GLOBE NEWSWIRE) — Cullinan Therapeutics, Inc. (Nasdaq: CGEM; “Cullinan”), a clinical-stage biopharmaceutical company accelerating potential first- or best-in-class, disease-modifying T cell engagers in autoimmune diseases and cancer, today outlined fourth quarter 2026 milestones across its immunology and oncology pipeline.

“We look forward to providing several updates across our T cell engager programs in the fourth quarter of 2026. Starting with autoimmune diseases, for CLN-978 we look forward to sharing the most comprehensive clinical data set to date for a CD19 T cell engager across all indications, with multi-dose regimen data reported concurrently for SLE, RA, and now Sjögren’s disease also. For velinotamig, we will provide multi-dose regimen data from the ongoing Phase 1 dose escalation study as we advance the program in plasma cell driven diseases. Together, our CD19- and BCMA-targeted programs reflect a differentiated approach to treating autoimmune diseases, aiming to address distinct disease drivers across a broad range of conditions. For CLN-049, we plan to provide an update with longer follow up from the dose escalation portion of our ongoing Phase 1 study in a broad, all-comer population of relapsed/refractory AML patients. We look forward to rapidly progressing this program and initiating our potentially registrational Phase 2 study, following our recent successful meeting with the FDA,” said Nadim Ahmed, President and CEO of Cullinan Therapeutics.

The Company plans to share the following immunology and oncology pipeline updates in Q4 2026:

• CLN-978 (CD19xCD3 T cell engager): treatment-refractory moderate to severe systemic lupus erythematosus (SLE), difficult-to-treat rheumatoid arthritis (RA), and treatment-refractory moderate to severe Sjögren’s disease (SjD)
  • Multi-dose and single target dose regimen data in SLE, RA, and SjD in December

• Velinotamig (BCMAxCD3 T cell engager): treatment-refractory autoimmune diseases driven by long-lived plasma cells
  • Multi-dose regimen data from the ongoing Genrix Bio Phase 1 dose escalation study in SLE to be shared in poster session at ACR Convergence 2026 on November 8, 2026, 10:30 a.m. to 12:30 p.m. ET

• CLN-049 (FLT3xCD3 T cell engager): relapsed/refractory acute myeloid leukemia (AML)
  • Updated data from the dose escalation portion of the Phase 1 study in December

About Cullinan Therapeutics

Cullinan Therapeutics, Inc. (Nasdaq: CGEM) is a biopharmaceutical company developing potential first- or best-in-class, disease-modifying T cell engagers for autoimmune diseases and cancer. Cullinan pursues promising therapeutic targets while leveraging core expertise in T cell engagers, which are established in oncology and are now advancing into autoimmune diseases. With a clinical-stage pipeline built on a rigorous scientific approach and purposeful innovation, Cullinan is advancing its mission to deliver new standards of care for patients. Learn more about Cullinan at https://cullinantherapeutics.com/, and follow Cullinan on LinkedIn and X.

Forward-Looking Statements

This press release contains forward-looking statements within the meaning of The Private Securities Litigation Reform Act of 1995. These forward-looking statements include, but are not limited to, express or implied statements regarding the company’s beliefs and expectations regarding: our clinical development plans and anticipated timelines for our product candidates, the clinical and therapeutic potential of our product candidates, our plans regarding future data presentations and other statements that are not historical facts. The words “believe,” “continue,” “could,” “estimate,” “expect,” “intends,” “may,” “plan,” “potential,” “project,” “pursue,” “will,” and similar expressions are intended to identify forward-looking statements, although not all forward-looking statements contain these identifying words.

Any forward-looking statements in this press release are based on management’s current expectations and beliefs of future events and are subject to known and unknown risks and uncertainties that may cause our actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. These risks include, but are not limited to, the following: uncertainty regarding the timing and results of clinical trial data and regulatory submissions; the risk that any NDAs, INDs, or other global regulatory submissions we may file with the United States Food and Drug Administration or other global regulatory agencies are not accepted or cleared on our expected timelines, or at all; the success of our clinical trials and preclinical studies; the risks related to our ability to protect and maintain our intellectual property position; the risks related to manufacturing, supply, and distribution of our product candidates; the risk that any one or more of our product candidates, including those that are co-developed, will not be successfully developed and commercialized; the risk that the results of preclinical studies or clinical trials will not be predictive of future results in connection with future studies or clinical trials; the effect of changes in global economic conditions, including uncertainties related to international trade policies, tariffs and supply chain dynamics on our business and operations; and the success of any collaboration, partnership, license or similar agreements. These and other important risks and uncertainties discussed in our filings with the Securities and Exchange Commission, including under the caption “Risk Factors” in our most recent Annual Report on Form 10-K and subsequent filings with the SEC, could cause actual results to differ materially from those indicated by the forward-looking statements made in this press release. While we may elect to update such forward-looking statements at some point in the future, we disclaim any obligation to do so, even if subsequent events cause our views to change, except to the extent required by law. These forward-looking statements should not be relied upon as representing our views as of any date subsequent to the date of this press release. Moreover, except as required by law, neither the company nor any other person assumes responsibility for the accuracy and completeness of the forward-looking statements included in this press release. Any forward-looking statement included in this press release speaks only as of the date on which it was made.

Contacts:

Investors
Nick Smith
+1 401.241.3516
nsmith@cullinantx.com

Media 
Rose Weldon
+1 215.801.7644
rweldon@cullinantx.com