Author: Ravi Shankar

Not for distribution to U.S. newswire services or for dissemination in the United States.

CALGARY, Alberta, Nov. 12, 2026 (GLOBE NEWSWIRE) — Northview Residential REIT (“Northview” or the “REIT”) (NRR.UN – TSX), today announced financial results for the three and nine months ended September 30, 2026.

Q3 2026 HIGHLIGHTS

• FFO per Unit growth – FFO per unit, excluding insurance proceeds, grew by 19.6% to $0.61 FFO per unit, supported by Same Door NOI growth and interest savings.

• Total Same Door NOI growth – Same door NOI growth of 4.2% driven by higher AMR, and disciplined operating expense management, which served to mitigate some of the ongoing cost pressures from higher fuel oil prices and property taxes.

• Continued Rent Growth – AMR increased 3.6% to $1,557, compared to $1,503 in the third quarter of 2025 offsetting 70 bps decrease in Same door multi-residential occupancy compared to the third quarter of 2025.

• Commercial leasing activity continued to improve – Commercial occupancy improved 190 bps. As of September 30, 2026, Northview has leased 54,200 sq. ft. of previous vacant spaces, renewed 144,500 sq.ft. on fixed-terms, and converted 48,300 sq. ft. of previous month-to-month leases into fixed-term leases.

• Optimized Credit Facilities to Reduce Financing Costs – During the quarter, Northview successfully amended its Syndicated facility and LC facility and terminated its Term facility, further advancing its active treasury management strategy. The amendments reduced the existing rate spread by 70 basis points, right-sized the Syndicate’s facility commitment to $200 million from $265 million, and extended its maturity to December 31, 2028.

• Continued focus on debt management – During the quarter, Northview’s TTM debt-to-adjusted EBITDA ratio strengthened to 10.7 times, primarily driven by lower total debt and higher Same door NOI.  

“Northview delivered another strong quarter, with FFO growth of 20% supported by lower financing costs, Same door NOI growth and improved commercial occupancy. Our focus on expense management enabled us to partially offset continuing expense pressures, including higher fuel oil prices and property taxes. We are also encouraged by recent positive multi-residential leasing trends.” commented Mr. Todd Cook, President and Chief Executive Officer of Northview.

Mr. Cook continued, “Our continued focus on debt management, including the successful renewal of our credit facilities during the quarter has put the REIT in a position to generate interest savings in a rising interest rate environment. These efforts combined with solid operating performance reinforce our financial resilience and continue to deliver strong financial performance,” concluded Mr. Cook.

2026 THIRD QUARTER RESULTS
The following chart summarizes key metrics associated with Northview’s financial performance:

(thousands of dollars, except as indicated)	As at September 30, 2026		As at December 31, 2025
Financial position
Total assets	2,608,109		2,578,417
Total liabilities	1,766,149		1,752,642
Credit facilities	164,907		148,655
Mortgages payable	1,388,284		1,389,080
Investment properties capitalization rate (Cap Rate)	6.47%		6.50%
Debt-to-gross book value(1)	62.3%		62.4%

	Three Months Ended September 30				Nine Months Ended September 30
(thousands of dollars, except as indicated)	2026		2025		2026		2025
Debt metrics
Debt to adjusted EBITDA (TTM)(1)	10.7x		11.1x		10.7x		11.1x
Interest coverage ratio (TTM)(1)	2.3x		2.1x		2.3x		2.1x
Debt service coverage ratio (TTM)(1)	1.6x		1.4 x		1.6x		1.4 x
Weighted average mortgage interest rate	4.07%		3.92%		4.07%		3.92%
Weighted average mortgage term to maturity (years)	4.2		4.5		4.4		4.6
Weighted average credit facilities interest rate(2)	4.55%		5.67%		4.98%		5.80%
Operating metrics
Same door multi-residential occupancy(1)	95.4%		96.1%		95.4%		96.1%
Same door AMR ($)(1)	1,557		1,503		1,557		1,503
Revenue	69,545		69,839		208,620		208,486
NOI	44,372		43,598		123,425		124,288
NOI margin(1)	63.8%		62.4%		59.2%		59.6%
Same door NOI(1)	43,907		42,141		123,209		120,282
Same door NOI margin(1)	63.7%		62.7%		59.5%		60.0%
Cash flows provided by operating activities	37,991		31,570		69,864		78,264
Distributions declared to unitholders(1)	9,869		9,862		29,606		29,585
Distributions declared per trust unit ($/Unit)	0.2734		0.2734		0.8203		0.8203
FFO payout ratio – basic(1)	38.7%		53.0%		48.2%		43.3%
AFFO payout ratio – basic(1)	45.0%		64.2%		58.4%		50.7%
Net and comprehensive income	32,164		10,475		42,588		30,596
FFO(1)	25,474		18,614		61,393		68,316
Per basic unit ($/Unit)(1)	0.71		0.52		1.70		1.89
Per diluted unit ($/Unit)(1)	0.65		0.48		1.59		1.75
AFFO(1)	21,925		15,354		50,712		58,380
Per basic unit ($/Unit)(1)	0.61		0.43		1.41		1.62
Per diluted unit ($/Unit)(1)	0.56		0.40		1.31		1.49
Measurements excluding insurance proceeds:
FFO(1)	21,973		18,567		57,662		53,202
FFO per unit – basic ($/Unit)(1)	0.61		0.51		1.60		1.48
FFO payout ratio – basic(1)	44.9%		53.1%		51.3%		55.6%
AFFO(1)	18,424		15,307		46,981		43,266
AFFO per unit – basic ($/Unit)(1)	0.51		0.42		1.30		1.20
AFFO payout ratio – basic(1)	53.6%		64.4%		63.0%		68.4%
Weighted average number of units – basic (000’s)(1)	36,090		36,064		36,087		36,064
Weighted average number of units – diluted (000’s)(1)	38,892		38,770		38,687		39,061

⁽¹⁾ See “Non-IFRS and Other Financial Measures”.
⁽²⁾ The weighted average credit facilities interest rate represents the aggregate rate applicable to the Syndicated and Term facilities.

STRONG FFO GROWTH AND IMPROVED FFO PAYOUT RATIO, EXCLUDING IMPACT OF INSURANCE PROCEEDS

During the third quarter, FFO per basic unit, excluding insurance proceeds recognized in other income, increased by 19.6% to $0.61, compared to $0.51 in the same period of 2025. The growth in FFO was primarily driven by interest savings from lower financing costs, as Northview continues to execute its debt management strategy, together with Same door NOI growth. As a result, the FFO payout ratio, excluding insurance proceeds, was 44.9%, an improvement of 820 bps compared to previous year’s quarter.

Including insurance proceeds of $3.5 million or $0.10 per basic unit, FFO per basic unit increased to $0.71 compared to $0.52 in the same period of 2025.

MULTI-RESIDENTIAL SAME DOOR NOI GROWTH DRIVEN BY REVENUE GAINS AND STABLE EXPENSES

During the third quarter, multi-residential Same door NOI grew to $37.5 million, a 3.8% increase over the same period in 2025, driven by modest revenue gains, and stable operating expenses that expanded the NOI margin by 80 bps.

Same door multi-residential revenue grew across the portfolio in the third quarter, driven by sequential AMR growth and stable portfolio occupancy, with occupancy improvements realized in several markets relative to the second quarter. Stronger rental spreads on turnovers from market rental rates and steady renewals drove AMR gains. AMR was $1,557 as at September 30, 2026, an increase of 3.6% compared to $1,503 from the third quarter of 2025. Same door occupancy was 95.4% in the third quarter, down by 70 bps compared to the same period in 2025, and steady compared to the second quarter. Occupancy remained strong in Northern Canada and improved further sequentially from second quarter. Western Canada also saw sequential gains, while Atlantic and Central Canada maintained consistent occupancy. Select markets within the portfolio experienced occupancy declines as they continued to navigate new market supply absorption, lower leasing traffic and temporary operational headwinds.

Same door operating expenses remained stable during the third quarter compared to the same period in 2025, as lower seasonal repair and maintenance expenses were partially offset by higher utility expenses and property taxes. Utility expenses increased primarily due to higher rates and persistently higher fuel oil prices in the Northwest Territories; meanwhile property taxes rose in select municipalities in Western, Atlantic, and Central Canada driven by increased assessed values and higher levy rates.

Total multi-residential NOI rose to $38.0 million, a 0.9% increase in the third quarter over the same period in 2025, as Same door NOI growth more than compensated for the earnings reduction resulting from the recent disposition of six underperforming properties in Yellowknife, Northwest Territories in July 2026, and five properties in St. John’s, Newfoundland and Labrador, in September 2025 as part of its non-core asset disposition initiative.

CONTINUING IMPROVEMENTS IN COMMERCIAL LEASING ACTIVITIES

During the third quarter, Northview continued to see improvements in commercial leasing activities, particularly in Northern, Atlantic and Central Canada, with commercial portfolio Same door occupancy increasing by 190 bps over the same period in 2025.

As at September 30, 2026, Northview secured renewals for 144,500 sq. ft. of leasable space on fixed terms, up by 6,600 sq. ft. over the second quarter, with a weighted average lease term of 5 years. Additionally, 48,300 sq. ft. of previous month-to-month leases were converted into fixed-term leases, an increase of 31,900 sq. ft. over the second quarter. These renewals and conversions were primarily with anchor tenants in Northern Canada.

Following a strong first half of 2026, Northview continued to focus on securing long-term leases to fill vacancies. As at September 30, 2026, Northview also leased an additional 54,200 sq. ft. of previously vacant space with a weighted average lease term of 6-years. These new leases, which commenced between the first and third quarters, were driven primarily by leasing activities in Atlantic Canada.

DEBT MANAGEMENT DRIVES RESILIENT METRICS AND FLEXIBILITY

As at September 30, 2026, debt-to-gross book value was 62.3%, a 10 bps improvement from December 31, 2025.

Northview continues to demonstrate resilient debt metrics in the third quarter, reflecting a consistent commitment to prudent leverage management. During the third quarter, the trailing twelve-month (“TTM”) debt-to-adjusted EBITDA ratio strengthened to 10.7 times, representing an additional 0.4 times improvement, primarily driven by a combination of lower total debt and higher TTM Same door NOI. Over the same period, the interest coverage ratio (TTM) improved by 0.2 times to 2.3 times and the debt service coverage ratio (TTM) improved by 0.2 times to 1.6 times. These improvements in coverage metrics were driven by a 112 bps reduction in the weighted average interest to 4.55%, a 70 bps spread reduction on the recently amended Syndicated facility, prudent paydown of outstanding facilities’ balances, and improved EBITDA.

SYNDICATED CREDIT FACILITY RENEWED WITH SIGNIFICANT EXPECTED INTEREST RATE SAVINGS

On July 14, 2026, Northview successfully completed the refinancing of its Syndicated credit facility. As part of an active treasury management strategy, the total facility commitment was reduced to $200 million from $265 million, the existing rate spread was reduced by 70 bps, and the maturity was extended to December 31, 2028 from December 31, 2026. Northview also fully repaid the Term facility to secure a reduced interest rate optimizing debt servicing costs. The renewal of the Syndicated facility and the full repayment of the Term facility are expected to deliver a simpler, more efficient debt structure and provide financial flexibility along with future interest savings.

NON-IFRS AND OTHER FINANCIAL MEASURES

Certain measures in this earnings release do not have any standardized meaning as prescribed by IFRS Accounting Standards (“IFRS”) and may, therefore, be considered non-IFRS financial measures, non-IFRS ratios, or other measures and may not be comparable to similar measures presented by other issuers. These measures are provided to enhance the readers’ overall understanding of Northview’s current financial condition and financial performance. They are included to provide investors and management with an alternative method for assessing our operating results in a manner that is focused on the performance of our ongoing operations and to provide a more consistent basis for comparison between periods. These measures include widely accepted measures of performance for Canadian real estate investment trusts; however, the measures are not defined by IFRS. In addition, these measures are subject to the interpretation of definitions by the preparers of financial statements and may not be applied consistently between real estate entities. These measures include:

• Non-IFRS Financial Measures: Adjusted funds from operations (“AFFO”) and funds from operations (“FFO”).
• Non-IFRS Ratios: AFFO payout ratio; AFFO per unit, FFO payout ratio, and FFO per unit
• Measurements Excluding Insurance Proceeds: AFFO, AFFO payout ratio, AFFO per unit, FFO, FFO payout ratio, and FFO per unit.
• Capital Management And Other: Distributions declared to unitholders, debt-to-adjusted earnings before interest, tax, depreciation and amortization (EBITDA), interest coverage ratio, debt service coverage ratio and debt to gross book value.
• Other Key Performance Indicators: Average monthly rent (“AMR”); net operating income (“NOI”) margin; occupancy; Same door revenues, expenses, net operating income, occupancy, and AMR; weighted average number of units – basic; and weighted average number of units – diluted

For further information on the most directly comparable IFRS measures, composition of the measures, a description of how Northview uses these measures, and an explanation of how these measures provide useful information to investors, refer to the “Non-IFRS and Other Financial Measures” section of Northview’s Management Discussion and Analysis as at and for the three and nine months ended September 30, 2026 and 2025, available on Northview’s profile on SEDAR+ at www.sedarplus.com, which is incorporated by reference into this news release.

NON-IFRS RECONCILIATION
The following table reconciles FFO and AFFO from net and comprehensive income, the most directly comparable IFRS measure as presented in the unaudited condensed consolidated interim financial statements:

	Three Months Ended September 30				Nine Months Ended September 30
(thousands of dollars, except as indicated)	2026		2025		2026		2025
Net and comprehensive income	32,164		10,475		42,588		30,596
Adjustments:
Distributions on exchangeable units	929		929		2,787		2,787
Fair value (gain) loss on investment properties	(935	)	4,746		19,935		27,855
Fair value loss on units	(7,556	)	931		(5,732	)	2,808
Accretion on redeemable units	—		—		—		1,362
Transaction costs on sale of investment properties	475		1,009		475		1,439
Depreciation	320		317		968		942
Other(1)	77		207		372		527
FFO(2)	25,474		18,614		61,393		68,316
Maintenance capex reserve – multi-residential	(3,228	)	(3,046	)	(9,732	)	(9,299	)
Maintenance capex reserve – commercial	(321	)	(214	)	(949	)	(637	)
AFFO(2)	21,925		15,354		50,712		58,380
FFO per Unit ($/Unit)(2)
Basic	0.71		0.52		1.70		1.89
Diluted	0.65		0.48		1.59		1.75
FFO payout ratio(2)
Basic	38.7%		53.0%		48.2%		43.3%
Diluted	41.7%		57.0%		51.7%		46.9%
AFFO per Unit ($/Unit)(2)
Basic	0.61		0.43		1.41		1.62
Diluted	0.56		0.40		1.31		1.49
AFFO payout ratio(2)
Basic	45.0%		64.2%		58.4%		50.7%
Diluted	48.5%		69.0%		62.6%		54.9%
Other Adjustments:
Insurance proceeds	(3,501	)	(47	)	(3,731	)	(15,114	)
Measurements excluding insurance proceeds:
FFO(2)	21,973		18,567		57,662		53,202
FFO per unit – basic ($/Unit)(2)	0.61		0.51		1.60		1.48
FFO per unit – diluted ($/Unit)(2)	0.56		0.48		1.49		1.36
FFO payout ratio – basic(2)	44.9%		53.1%		51.3%		55.6%
FFO payout ratio – diluted(2)	48.4%		57.1%		55.0%		60.2%
AFFO(2)	18,424		15,307		46,981		43,266
AFFO per unit – basic ($/Unit)(2)	0.51		0.42		1.30		1.20
AFFO per Unit – diluted ($/Unit)(2)	0.47		0.39		1.21		1.11
AFFO payout ratio – basic(2)	53.6%		64.4%		63.0%		68.4%
AFFO payout ratio – diluted(2)	57.7%		69.3%		67.6%		74.1%
Distributions
Basic	9,869		9,862		29,606		29,585
Diluted	10,635		10,601		31,739		32,042
Weighted average number of units
Basic (‘000s)(2)	36,090		36,064		36,087		36,064
Diluted (‘000s)(2)	38,892		38,770		38,687		39,061

⁽¹⁾ “Other” is comprised of amortization of tenant inducements, amortization of property, plant and equipment, and other items included in equity income from joint ventures.
⁽²⁾ See “Non-IFRS and Other Financial Measures”.

FINANCIAL INFORMATION

Northview’s unaudited condensed consolidated interim financial statements, the notes thereto, and Management’s Discussion and Analysis for the three months and nine months ended September 30, 2026 and 2025, can be found on Northview’s website at www.rentnorthview.com and on SEDAR+ at www.sedarplus.com.

ABOUT NORTHVIEW RESIDENTIAL REIT

Northview is a publicly-traded real estate investment trust established pursuant to a declaration of trust under the laws of the province of Ontario for the primary purpose of owning and operating a portfolio of income-producing rental properties in secondary markets within Canada.

CAUTIONARY AND FORWARD-LOOKING INFORMATION

Certain information contained in this news release constitutes forward-looking information within the meaning of applicable securities laws. Statements that reflect Northview’s objectives, plans, goals, and strategies are subject to risks, uncertainties, and other factors which could cause actual results to differ materially from future results expressed, projected, or implied by such forward-looking information. In some instances, forward-looking information can be identified by the use of terms such as “may”, “should”, “expect”, “will”, “anticipate”, “believe”, “intend”, “estimate”, “predict”, “potentially”, “starting”, “beginning”, “begun”, “moving”, “continue”, or other similar expressions concerning matters that are not historical facts. Forward-looking information in this news release includes, but is not limited to, future maintenance expenditures, financing and the availability of financing and the terms thereof, the replacement of floating-rate debt with fixed-rate debt, the ability to sell select assets, terms, or timing to be completed, the use of proceeds from any such sales, future economic conditions, the expected distributions of Northview, liquidity and capital resources, market trends, future operating efficiencies, tenant incentives, and occupancy levels. Such statements involve significant risks and uncertainties and are not meant to provide guarantees of future performance or results. These cautionary statements qualify all of the statements and information contained in this news release incorporating forward-looking information.

Forward-looking information is made as of November 12, 2026 and is based on information available to management as of that date. Management believes that the expectations reflected in forward-looking information are based upon reasonable assumptions; however, management can give no assurance that the actual results will be consistent with this forward-looking information. Factors that could cause actual results, performance, or achievements to differ materially from those expressed or implied by forward-looking information include, but are not limited to, the risks identified herein, and those discussed in Northview’s other materials filed with the Canadian securities regulatory authorities from time to time including those discussed under the Risk Factors section disclosed in its MD&A for the year ended December 31, 2025. The risks include, but are not limited to, government regulation of residential tenancies; availability of favorable financing and changes in interest rates; general economic conditions; asset dispositions may fall short of projected terms, while acquired assets may underperform relative to financial and operational expectations; reliance on property appraisal reports; certain catastrophic risks are either impossible or prohibitively expensive to insure, adverse impact of environmental matters and climate change, inflationary pressures, tenants’ ability to pay, ability to maintain liquidity, reliance on information technology to conduct business, capital demands related to real estate ownership, and the potential non-renewal of land leases, fluctuations in commodity prices; Northview’s ability to maintain distributions at existing levels, and its ability to maintain its real estate investment trust and mutual fund trust status for Canadian income tax purposes. Additional risks and uncertainties not presently known to Northview, or those risks and uncertainties that Northview currently believes to not be material, may also adversely affect Northview. Northview cautions readers that this list of factors is not exhaustive and that should certain risks or uncertainties materialize, or should underlying estimates or assumptions, including those outlined in Note 2 of the 2025 annual financial statements, prove incorrect, actual events, performance, and results may vary materially from those expected.

Except as specifically required by applicable Canadian law, Northview assumes no obligation to update or revise publicly any forward-looking information to reflect new events or circumstances that may arise after November 12, 2026.

To learn more about Northview, visit www.rentnorthview.com or contact:

Todd Cook President and Chief Executive Officer Northview Residential REIT Tel: (403) 531-0720 Email: tcook@nvreit.ca

Laura Ingram Chief Financial Officer Northview Residential REIT Tel: (403) 531-0720 Email: lingram@nvreit.ca

TORONTO, Nov. 12, 2026 (GLOBE NEWSWIRE) — Exco Technologies Limited (TSX – XTC) today announced that it will report its financial results for the fourth quarter ended September 30, 2026 after the close of business on Wednesday December 2, 2026.

Exco’s management will hold a conference call to discuss the results on Thursday December 3, 2026 at 10:00 a.m. Eastern Time. To access the listen only live audio webcast, please log on to www.excocorp.com, or https://edge.media-server.com/mmc/p/e9zc4sb5 a few minutes before the event.

Those interested in participating in the question-and-answer conference call may register at https://register-conf.media-server.com/register/BI4997ec7cee6a481e844b881ec0f80ae8 to receive the dial-in numbers and unique PIN to access the call. It is recommended that you join 10 minutes prior to the event start (although you may register and dial in at any time during the call).

For those unable to participate on December 3, 2026, an archived version will be available on the Exco website (www.excocorp.com) until December 18, 2026.

Exco Technologies Limited is a global supplier of innovative technologies servicing the die-cast, extrusion and automotive industries. Through our 20 strategic locations in 9 countries, we employ approximately 4,400 people and service a diverse and broad customer base.

Source: Exco Technologies Limited (TSX-XTC)
Contact: Matthew Posno, Vice President Finance, Chief Financial Officer
Telephone: (905) 477-3065, Ext 7265
Website: https://www.excocorp.com

TORONTO, Nov. 12, 2026 (GLOBE NEWSWIRE) — Exco Technologies Limited (TSX – XTC) today announced that it will report its financial results for the fourth quarter ended September 30, 2026 after the close of business on Wednesday December 2, 2026.

Exco’s management will hold a conference call to discuss the results on Thursday December 3, 2026 at 10:00 a.m. Eastern Time. To access the listen only live audio webcast, please log on to www.excocorp.com, or https://edge.media-server.com/mmc/p/e9zc4sb5 a few minutes before the event.

Those interested in participating in the question-and-answer conference call may register at https://register-conf.media-server.com/register/BI4997ec7cee6a481e844b881ec0f80ae8 to receive the dial-in numbers and unique PIN to access the call. It is recommended that you join 10 minutes prior to the event start (although you may register and dial in at any time during the call).

For those unable to participate on December 3, 2026, an archived version will be available on the Exco website (www.excocorp.com) until December 18, 2026.

Exco Technologies Limited is a global supplier of innovative technologies servicing the die-cast, extrusion and automotive industries. Through our 20 strategic locations in 9 countries, we employ approximately 4,400 people and service a diverse and broad customer base.

Source: Exco Technologies Limited (TSX-XTC)
Contact: Matthew Posno, Vice President Finance, Chief Financial Officer
Telephone: (905) 477-3065, Ext 7265
Website: https://www.excocorp.com

SANTA MONICA, Calif., Nov. 12, 2026 (GLOBE NEWSWIRE) — Super League Enterprise, Inc. (Nasdaq: SLE) (“Super League” or the “Company”), an audience intelligence and media activation company trusted by global brands to reach and engage people who play video games, today announced that it will release its financial results for the third quarter ended September 30, 2026 after market close on Monday, November 16, 2026, at 5:00 p.m. Eastern Time.

The Company’s results will be presented in a letter to shareholders from Chief Executive Officer Matt Edelman, which will be posted to the Investor Relations section of the Company’s website at ir.superleague.com. A copy of the letter will also be furnished to the Securities and Exchange Commission on a Form 8-K.

About Super League

Super League (Nasdaq: SLE) connects brands with the 3.5 billion-person global gaming population through advertising and branded content programs across gaming and digital media platforms. The Company generates revenue by delivering these programs through proprietary interactive formats, creator content, immersive experiences, data-driven insights, and strategic campaign services designed to improve marketing performance. By translating player behavior into actionable intelligence, Super League serves as a trusted partner helping brands reach and influence consumers who play video games. With a deep understanding of this highly engaged yet under-monetized audience, Super League is positioned to capture an increasing share of brand advertising spend as the market continues to expand.

Investor Relations Contact:

Allan Rosenthal
Intelligent IR ATX
abrosey@intelligentiratx.com

SANTA MONICA, Calif., Nov. 12, 2026 (GLOBE NEWSWIRE) — Super League Enterprise, Inc. (Nasdaq: SLE) (“Super League” or the “Company”), an audience intelligence and media activation company trusted by global brands to reach and engage people who play video games, today announced that it will release its financial results for the third quarter ended September 30, 2026 after market close on Monday, November 16, 2026, at 5:00 p.m. Eastern Time.

The Company’s results will be presented in a letter to shareholders from Chief Executive Officer Matt Edelman, which will be posted to the Investor Relations section of the Company’s website at ir.superleague.com. A copy of the letter will also be furnished to the Securities and Exchange Commission on a Form 8-K.

About Super League

Super League (Nasdaq: SLE) connects brands with the 3.5 billion-person global gaming population through advertising and branded content programs across gaming and digital media platforms. The Company generates revenue by delivering these programs through proprietary interactive formats, creator content, immersive experiences, data-driven insights, and strategic campaign services designed to improve marketing performance. By translating player behavior into actionable intelligence, Super League serves as a trusted partner helping brands reach and influence consumers who play video games. With a deep understanding of this highly engaged yet under-monetized audience, Super League is positioned to capture an increasing share of brand advertising spend as the market continues to expand.

Investor Relations Contact:

Allan Rosenthal
Intelligent IR ATX
abrosey@intelligentiratx.com

~ Strong demand for LNG HPDI™ trucks continues to drive revenue growth for Cespira™ ~

VANCOUVER, British Columbia, Nov. 12, 2026 (GLOBE NEWSWIRE) — Aetherion Technologies Inc. (“Aetherion“) (TSX:AETR / Nasdaq:AETR) (previously, Westport Fuel Systems Inc.) today reported financial results for the third quarter ended September 30, 2026, and provided an update on operations. All figures are in U.S. dollars unless otherwise stated.

“Our transition to Aetherion Technologies reflects a renewed focus on the opportunities where our technology and expertise can create the greatest value: practical, scalable and cost-effective solutions for heavy-duty transportation. We are aligning our portfolio and resources around that focus, directing our specialized technical and commercial capabilities to advance solutions for these sectors starting with our high-pressure CNG solution to help open up the North American market for CNG HPDI in heavy-duty trucking.

Building on the growth trend that we saw in the first two quarters of 2026, Cespira delivered product revenue growth of 85% in Q3, as compared to the same quarter last year.  There clearly is increasing interest amongst commercial fleets globally, and particularly in Europe,  reinforcing the commercial momentum behind Cespira’s HPDI fuel system.  To address this growing demand in 2027, Cespira is investing in anticipation of this growth, with investment timing and scale aligned with customer requirements and fleet demands.

The opportunities ahead extend across fuels and markets. Cespira’s HPDI™ 3.0 fuel system is scheduled to begin production in Q4 2026, with the first equipped vehicles expected on the road in early 2027. Alongside Cespira’s next-generation platform, Aetherion has advanced its proprietary high-pressure CNG and renewable natural gas systems and solutions for North America. This solution is flexible enough to accommodate hydrogen and hydrogen / methane blended-fuel systems. Together, this system can expand market penetration for HPDI powered trucks and protect for future fuel availability while preserving the performance fleets require, supporting affordable emissions reductions, addressing energy security needs and reducing overall operational costs.

Strengthening our financial position remains a core priority. Our equity facility of up to $25 million, subject to certain limitation, provides additional financing flexibility. Our focus is on aligning investment with execution—supporting Cespira’s path toward self-funding and progressing our North American CNG solution as we build a more focused business for long-term growth.”

Dan Sceli, Chief Executive Officer 

Third Quarter 2026 Highlights 

• Revenues for the third quarter of 2026 increased by 60% to $2.6 million compared to $1.6 million in the same quarter last year.  In Q3 2025, we were moving the manufacturing into China and Cambridge, Ontario from its previous location in Italy.
• Cespira delivered strong financial performance, driven by significant growth in  product and aftermarket revenue. For the third quarter of 2026, revenue increased by $8.9 million or 46% compared to the prior year quarter. Cespira reduced its net loss by $5.7 million, continuing to reduce its reliance on funding from its partners. Aetherion reduced its capital contributions to Cespira in the quarter from $11.0 million to $2.8 million. The improvement in Cespira’s financial performance was a result of higher sales volumes driven by increasing market acceptance and confidence in the product and OEM interest in HPDI technology, and favorable diesel to natural gas and biogas fuel economics, supported by continued improvement of supply chain execution as the business prepares for the launch of HPDI 3.0.
• Significantly improved net loss from continuing operations to $3.0 million for the quarter compared to a net loss from continuing operations of $10.4 million for the same quarter last year.  The reduction in the net loss from continuing operations is due to higher revenue, lower operating expenses, improved Cespira financial performance, and a $2.2 million gain on warrant liabilities remeasurement.
• Adjusted EBITDA¹ of negative $4.8 million compared to negative $6.3 million for the same period in 2025.  The decrease in negative adjusted EBITDA was primarily driven by lower operating losses, and a decrease in the loss from investments accounted for by the equity method. Included in the prior year quarter’s adjusted EBITDA was our discontinued operations’ performance, which included an operating profit of $1.8 million for the three months ended September 30, 2025.
• Cash and cash equivalents were $14.5 million for the third quarter of 2026. Cash used in operating activities from continuing operations was $5.0 million for the quarter, primarily driven by operating losses in the quarter and changes in working capital. Cash used in investing activities from continuing operations was primarily driven by capital contributions to Cespira of $2.8 million for the quarter. Cash used in financing activities from continuing operations were primarily driven by the debt repayment of $1.0 million in the quarter.  Long term debt, including the current portion, was fully repaid in the quarter.

________________________________
_{¹ Adjusted earnings before interest, taxes and depreciation is a non-GAAP measure. Please refer to NON-GAAP FINANCIAL MEASURES in Aetherion’s Management Discussion and Analysis for the reconciliation.}

CONSOLIDATED RESULTS
($ in thousands, except per share amounts)							Increase / (Decrease) %								Increase / (Decrease) %
	3Q26			3Q25					9M26			9M25
Revenues	$	2,591		$	1,617		60	%	$	7,593		$	21,438		(65	)%
Gross Profit		95			472		(80	)%		744			2,849		(74	)%
Gross Margin %(2)		4	%		29	%				10	%		13	%
Loss from Investments Accounted for by the Equity Method(1)		(166	)		(3,197	)	(95	)%		(2,830	)		(10,767	)	(74	)%
Net Loss from Continuing Operations		(2,990	)		(10,410	)	(71	)%		(20,072	)		(20,758	)	(3	)%
Net Loss from Discontinued Operations		—			(3,316	)	100	%		—			(29,763	)	100	%
Net Loss		(2,990	)		(13,726	)	78	%		(20,072	)		(50,521	)	60	%
Net Loss per Share – Basic & Diluted	$	(0.13	)	$	(0.79	)	84	%	$	(1.05	)	$	(2.91	)	64	%
EBITDA(2)	$	(2,786	)	$	(12,814	)	78	%	$	(19,643	)	$	(42,998	)	54	%
Adjusted EBITDA(2)	$	(4,843	)	$	(6,313	)	23	%	$	(15,975	)	$	(7,337	)	(118	)%

_{⁽¹⁾ This includes income or loss from our investments in Cespira joint ventures.
⁽²⁾ Gross margin, EBITDA and Adjusted EBITDA are non-GAAP measures. Please refer to GAAP and NON-GAAP FINANCIAL MEASURES for the reconciliation to equivalent GAAP measures and limitations on the use of such measures.}

Segment Information

High-Pressure Controls

Revenue for the three and nine months ended September 30, 2026 was $2.6 million and $7.6 million, respectively, compared with $1.6 million and $6.4 million for the three and nine months ended September 30, 2025.  The increase in revenue was primarily driven by higher volume of sales in the quarter compared to prior year, which was impacted by the transition of operations to the Company’s manufacturing facilities in China and Cambridge, Ontario. As production and shipment levels normalized, the Company achieved higher shipment volumes during the current quarter, resulting in increased sales.

Gross profit was $0.1 million or 4% of revenue, for the three months ended September 30, 2026 compared to $0.5 million or 29% of revenue, for the three months ended September 30, 2025.  The decrease in gross profit margin was primarily attributable to the absence of a non-recurring, high-margin engineering services revenue recognized in the prior year period. We anticipate that as the manufacturing plants in Canada and China continue to work on localizing supply chain and improving their manufacturing processes and output, its gross profit and margin will benefit.

Heavy-Duty OEM

The segment’s transitional service agreement with Cespira ended in Q2 2025 and, as a result, the segment did not have any sales activity in the quarter.

Selected Cespira Statements of Operations Data

We account for Cespira using the equity method of accounting. However, due to its significance to our long-term strategy and operating results, we disclose selected Cespira financial information in our interim financial statements for the three and nine months ended September 30, 2026.

The following table sets forth a summary of the financial results of Cespira for the three and nine months ended September 30, 2026.

		Three months ended September 30,								Change							Nine months ended September 30,								Change
(in thousands of U.S. dollars)			2026				2025			$				%				2026				2025			$				%
Product revenue		$	20,683			$	11,184			$	9,499			85	%		$	54,820			$	29,634			$	25,186			85	%
Aftermarket revenue		$	4,888			$	3,589			$	1,299			36	%			14,678				9,308			$	5,370			58	%
Service revenue		$	2,676			$	4,555				(1,879	)		(41	)%			8,069				9,205				(1,136	)		(12	)%
Total revenue		$	28,247			$	19,328				8,919			46	%			77,567				48,147				29,420			61	%
Gross profit1		$	3,689			$	(1,036	)			4,725			456	%			9,079				(2,447	)			11,526			471	%
Gross margin %			13	%		(5		)%										12	%		(5		)%
Research & development		$	1,095			$	1,135				(40	)		(4	)%			3,757				6,025				(2,268	)		(38	)%
Selling, general, & administrative		$	3,356			$	2,767				589			21	%			9,471				8,804				667			8	%
Operating loss		$	(452	)		$	(5,918	)			5,466			(92	)%			(5,163	)			(19,758	)			14,595			(74	)%
Net loss		$	(301	)		$	(6,034	)			5,733			(95	)%			(5,199	)			(19,778	)			14,579			(74	)%

_{⁽¹⁾ Gross margin are non-GAAP measures. Please refer to GAAP and NON-GAAP FINANCIAL MEASURES for the reconciliation to equivalent GAAP measures and limitations on the use of such measures.}

Product Revenue for the three and nine months ended September 30, 2026 was $20.7 million and $54.8 million compared to $11.2 million and $29.6 million for the three and nine months ended September 30, 2025. The increase in revenue of 85% in the current quarter was primarily driven by significantly higher volumes of systems sold compared to the prior year quarter. The year to date revenue growth was primarily driven by significantly higher volumes of systems sold in each of the first three quarters of 2026 compared to the corresponding prior year periods. Cespira’s growth is influenced by the resilient favorable price differential between diesel and natural gas and government regulation support in markets like Europe. Growth was also supported by increasing industry recognition of HPDI technology as a commercially viable low emissions solution for heavy-duty transportation.

Aftermarket Revenue for the three and nine months ended September 30, 2026 was $4.9 million and $14.7 million compared to $3.6 million and $9.3 million for the three and nine months ended September 30, 2025. The increase in aftermarket revenue is primarily driven by an increase in sales volumes.

Service Revenue for the three and nine months ended September 30, 2026 was $2.7 million and $8.1 million compared to $4.6 million and $9.2 million for the three and nine months ended September 30, 2025. The decrease in service revenue for the three and nine month periods was primarily attributable to the timing of project milestone achievements, with higher milestone revenue recognized in the prior-year periods. Service revenue allocated to project milestones are weighted differently across the phases of an engineering service revenue project. One of Cespira’s significant long-term engineering service revenue projects is expected to complete in Q4 2026 in advance of the anticipated launch of their HPDI 3.0  product.

Gross profit was $3.7 million and $9.1 million for the three and nine months ended September 30, 2026 compared to gross loss of $1.0 million and $2.4 million for the three and nine months ended September 30, 2025. The increase in gross profit was primarily driven by the increase in volumes of systems and aftermarket products sold along with cost reductions in materials and improvements in labor efficiency.

Cespira had an operating loss of $0.5 million and $5.2 million for the three and nine months ended September 30, 2026 compared to $5.9 million and $19.8 million for the three and nine months ended September 30, 2025. Cespira significantly reduced its operating loss compared to the prior year quarter by meaningfully increasing its product revenue, gross margin and lowering its cost base as it continues to grow and scale the business. The improvement also reflects management’s focus on growing volumes, enabling supply chain execution and maintaining a tightly controlled cost environment as it prepares for the launch of HPDI 3.0.

Cespira sees continued growth opportunities in the LNG heavy-duty market, as favorable fuel-price differentials relative to diesel, concerns around energy availability and security, and tightening emissions regulations strengthen the case for fleet adoption of HPDI technology. To capture this opportunity, Cespira is evaluating capacity investments in 2027, scaled to align to anticipated demand. These investments are expected to be self-funded through Cespira’s operations. Combined with improving operating leverage and disciplined cost management, this approach positions Cespira to translate higher demand into stronger financial performance.

Liquidity and Going Concern

As at September 30, 2026, we had cash and cash equivalents of $14.5 million and no long-term debt. 

Based on our projected capital expenditures and operating requirements under our current business plan, we are projecting that our cash and cash equivalents will not be sufficient to fund our operations through the next twelve months from the date of the issuance of our Q3 2026 MD&A. These conditions raise substantial doubt about Aetherion’s ability to continue as a going concern within one year after the date that our Q3 2026 MD&A is issued. 

Although the Company was able to raise equity financing in the prior quarters, management continues to evaluate  different options to improve Aetherion’s liquidity position, including  access to the Committed Equity Facility, raising funds from the public markets,  borrowing debt or other financing alternatives. These plans are not final and are subject to market and other conditions not within our control. As such, there can be no assurances that Aetherion will be successful in obtaining sufficient funding. Accordingly, we concluded under the accounting standards that these plans do not alleviate the substantial doubt about Aetherion’s ability to continue as a going concern.

Conference call 

Aetherion has scheduled a conference call for Friday, November 13, 2026, at 7:00 am Pacific Time (9:00 am Eastern Time) to discuss these results. To access the conference call please register at https://register-conf.media-server.com/register/BI35b93703f9b94c79af5e7d30753ef513

The live webcast of the conference call can be accessed through the Aetherion website at  https://investors.aetheriontech.com/.

Participants may register up to 60 minutes before the event by clicking on the call link and completing the online registration form. Upon registration, the user will receive dial-in info and a unique PIN, along with an email confirming the details. 

The webcast will be archived on Aetherion’s website at https://investors.aetheriontech.com.

Financial Statements and Management’s Discussion and Analysis  

To view Aetherion’s full financials for the third quarter ended September 30, 2026, please visit https://investors.aetheriontech.com/.

About Aetherion Technologies

Aetherion Technologies Inc. is a global clean transportation technology company delivering proven, commercially ready solutions that help fleets and original equipment manufacturers (OEMs) improve performance, efficiency and energy flexibility. Built on decades of engineering expertise, Aetherion develops advanced fuel delivery, storage and control technologies for heavy-duty mobility applications. Its proven technologies support a wide range of alternative fuels—including natural gas, renewable natural gas and hydrogen—empowering OEMs and commercial transportation fleets to meet demanding performance standards, evolving regulatory requirements and climate objectives in a cost-effective way. Through its portfolio of differentiated technologies and strategic partnerships, Aetherion is accelerating practical, scalable pathways to affordable, lower-emission transportation worldwide. Aetherion is headquartered in Vancouver, Canada. For more information, visit www.aetheriontech.com.

GAAP and NON-GAAP FINANCIAL MEASURES

Our financial statements are prepared in accordance with U.S. generally accepted accounting principles (“U.S. GAAP”). These U.S. GAAP financial statements include non-cash charges and other charges and benefits that may be unusual or infrequent in nature or that we believe may make comparisons to our prior or future performance difficult. In addition to conventional measures prepared in accordance with U.S. GAAP, Aetherion and certain investors use EBITDA and Adjusted EBITDA as an indicator of our ability to generate liquidity by producing operating cash flow to fund working capital needs, service debt obligations and fund capital expenditures. Management also uses these non-GAAP measures in its review and evaluation of the financial performance of Aetherion. EBITDA is also frequently used by investors and analysts for valuation purposes whereby EBITDA is multiplied by a factor or “EBITDA multiple” that is based on an observed or inferred relationship between EBITDA and market values to determine the approximate total enterprise value of a company. We believe that these non-GAAP financial measures also provide additional insight to investors and securities analysts as supplemental information to our U.S. GAAP results and as a basis to compare our financial performance period-over-period and to compare our financial performance with that of other companies. We believe that these non-GAAP financial measures facilitate comparisons of our core operating results from period to period and to other companies by, in the case of EBITDA, removing the effects of our capital structure (net interest income on cash deposits, interest expense on outstanding debt and debt facilities), asset base (depreciation and amortization) and tax consequences. Adjusted EBITDA provides this same indicator of Aetherion’s EBITDA from continuing operations and removing such effects of our capital structure, asset base and tax consequences, but additionally excludes any unrealized foreign exchange gains or losses, stock-based compensation charges and other one-time impairments and costs which are not expected to be repeated in order to provide greater insight into the cash flow being produced from our operating business, without the influence of extraneous events.

Segment Information

EBITDA and Adjusted EBITDA are intended to provide additional information to investors and analysts and do not have any standardized definition under U.S. GAAP, and should not be considered in isolation or as a substitute for measures of performance prepared in accordance with U.S. GAAP. EBITDA and Adjusted EBITDA exclude the impact of cash costs of financing activities and taxes, and the effects of changes in operating working capital balances, and therefore are not necessarily indicative of operating profit or cash flow from operations as determined under U.S. GAAP. Other companies may calculate EBITDA and Adjusted EBITDA differently.

Segment earnings or losses before income taxes, interest, depreciation, and amortization (“Segment EBITDA”) is the measure of segment profitability used by the Company. The accounting policies of our reportable segments are the same as those applied in our consolidated financial statements. Management prepared the financial results of the Company’s reportable segments on basis that is consistent with the manner in which Management internally disaggregates financial information to assist in making internal operating decisions. Certain common costs and expenses, primarily corporate functions, among segments differently than we would for stand-alone financial information prepared in accordance with GAAP. These include certain costs and expenses of shared services, such as IT, human resources, legal, finance and supply chain management.  Segment EBITDA is not defined under U.S. GAAP and may not be comparable to similarly titled measures used by other companies and should not be considered a substitute for net earnings or other results reported in accordance with GAAP. Reconciliations of reportable segment information to consolidated statement of operations can be found in section “Non-GAAP Measure & Reconciliations” within this this press release.

	Three months ended September 30, 2026
	High-Pressure Controls				Cespira				Total Segment
Revenue	$	2,591			$	28,247			$	30,838
Cost of revenue		2,496				24,558				27,054
Gross profit		95				3,689				3,784
Operating expenses:
Research & development		650				1,095				1,745
General & administrative		588				2,248				2,836
Sales & marketing		92				1,108				1,200
Depreciation & amortization		50				741				791
		1,380				5,192				6,572
Add back: Depreciation & amortization		246				1,094				1,340
Segment EBITDA	$	(1,039	)		$	(409	)		$	(1,448	)

	Three months ended September 30, 2025
	High-Pressure Controls & Systems				Heavy-Duty OEM				Cespira				Total Segment
Revenue	$	1,606			$	11			$	19,328			$	20,945
Cost of revenue		1,145				—				20,364				21,509
Gross profit		461				11				(1,036	)			(564	)
Operating expenses:
Research & development		2,293				26				1,135				3,454
General & administrative		484				34				2,410				2,928
Sales & marketing		103				3				357				463
Depreciation & amortization		108				—				833				941
		2,988				63				4,735				7,786
Add back: Depreciation & amortization		134				—				1,610				1,744
Segment EBITDA	$	(2,393	)		$	(52	)		$	(4,161	)		$	(6,606	)

	Nine months ended September 30, 2026
	High-Pressure Controls				Cespira				Total Segment
Revenue	$	7,593			$	77,567			$	85,160
Cost of revenue		6,849				68,488				75,337
Gross profit		744				9,079				9,823
Operating expenses:
Research and development		2,388				3,757				6,145
General and administrative		1,700				7,481				9,181
Sales and marketing		318				1,990				2,308
Depreciation and amortization		146				2,514				2,660
		4,552				15,742				20,294
Add back: Depreciation and amortization		654				3,029				3,683
Segment EBITDA	$	(3,154	)		$	(3,634	)		$	(6,788	)

	Nine months ended September 30, 2025
	High-Pressure Controls				Heavy-Duty OEM			Cespira				Total Segment
Revenue	$	6,392			$	15,046		$	48,147			$	69,585
Cost of revenue		5,313				13,276			50,594				69,183
Gross profit		1,079				1,770			(2,447	)			402
Operating expenses:
Research and development		5,027				159			6,025				11,211
General and administrative		1,189				133			7,829				9,151
Sales and marketing		253				26			975				1,254
Depreciation and amortization		223				—			2,423				2,646
		6,692				318			17,252				24,262
Add back: Depreciation and amortization		432				—			4,901				5,333
Segment EBITDA	$	(5,181	)		$	1,452		$	(14,798	)		$	(18,527	)

	Three months ended September 30, 2026
	Total Segment			Less: Cespira			Add: Corporate & unallocated				Total Consolidated
Revenue	$	30,838		$	28,247		$	—			$	2,591
Cost of revenue		27,054			24,558			—				2,496
Gross profit		3,784			3,689			—				95
Operating expenses:
Research & development		1,745			1,095			391				1,041
General & administrative		2,836			2,248			3,366				3,954
Sales & marketing		1,200			1,108			226				318
Depreciation & amortization		791			741			64				114
		6,572			5,192			4,047				5,427
Equity loss		—			—			(166	)			(166	)

	Three months ended September 30, 2025
	Total Segment				Less: Cespira				Add: Corporate & unallocated				Total Consolidated
Revenue	$	20,945			$	19,328			$	—			$	1,617
Cost of revenue		21,509				20,364				—				1,145
Gross profit		(564	)			(1,036	)			—				472
Operating expenses:
Research & development		3,454				1,135				—				2,319
General & administrative		2,928				2,410				3,612				4,130
Sales & marketing		463				357				199				305
Depreciation & amortization		941				833				38				146
		7,786				4,735				3,849				6,900
Equity loss		—				—				(3,197	)			(3,197	)

	Nine months ended September 30, 2026
	Total Segment			Less: Cespira			Add: Corporate & unallocated				Total Consolidated
Revenue	$	85,160		$	77,567		$	—			$	7,593
Cost of revenue		75,337			68,488			—				6,849
Gross profit		9,823			9,079			—				744
Operating expenses:
Research and development		6,145			3,757			1,087				3,475
General and administrative		9,181			7,481			9,262				10,962
Sales and marketing		2,308			1,990			431				749
Depreciation and amortization		2,660			2,514			123				269
		20,294			15,742			10,903				15,455
Equity loss		—			—			(2,830	)			(2,830	)

	Nine months ended September 30, 2025
	Total Segment			Less: Cespira				Add: Corporate & unallocated				Total Consolidated
Revenue	$	69,585		$	48,147			$	—			$	21,438
Cost of revenue		69,183			50,594				—				18,589
Gross profit		402			(2,447	)			—				2,849
Operating expenses:
Research and development		11,211			6,025				—				5,186
General and administrative		9,151			7,829				9,586				10,908
Sales and marketing		1,254			975				759				1,038
Depreciation and amortization		2,646			2,423				137				360
		24,262			17,252				10,482				17,492
Equity loss		—			—				(10,767	)			(10,767	)

Reconciliation of Segment EBITDA to Loss before income taxes		Three months ended September 30,								Nine months ended September 30,
			2026				2025				2026				2025
Total Segment EBITDA		$	(1,448	)		$	(6,606	)		$	(6,788	)		$	(18,527	)
Adjustments:
Depreciation and amortization			310				172				777				569
Cespira’s Segment EBITDA			(409	)			(4,161	)			(3,634	)			(14,798	)
Loss on investments accounted for under the equity method			166				3,197				2,830				10,767
Corporate and unallocated operating expenses			3,983				3,811				10,780				10,345
Foreign exchange gain (loss)			(240	)			1,282				2,460				(4,145	)
Change in fair value of warrant liability			(2,162	)			—				(666	)			—
Financing transaction costs			—				—				1,085				—
Interest on long-term debt			30				142				188				500
Interest and other income, net of bank charges			(156	)			(653	)			(892	)			(1,155	)
Loss before income taxes in continuing operations		$	(2,970	)		$	(10,396	)		$	(19,716	)		$	(20,610	)

Gross Profit and Gross Margin
(expressed  in thousands  of U.S. dollars)		3Q26		3Q25		2Q26		2Q25
Three months ended
Revenue		$2,591		$1,617		$2,717		$12,498
Less: Cost of revenue		2,496		1,145		2,584		11,656
Gross profit		95		472		133		842
Gross margin %		4%		29%		5%		7%

EBITDA and Adjusted EBITDA
(expressed  in thousands of U.S. dollars)		3Q26				3Q25				2Q26				2Q25
Three months ended
Income (Loss) before income taxes		$	(2,970	)		$	(13,523	)		$	11,152			$	32,671
Interest expense (income), net			(126	)			(532	)			74				571
Depreciation and amortization			310				1,241				255				2,051
EBITDA			(2,786	)			(12,814	)			(10,823	)			(30,049	)
Stock based compensation			345				(221	)			276				451
Unrealized foreign exchange (gain) loss			(240	)			839				1,693				(2,362	)
Severance costs			—				798				—				96
Loss on disposal of operations			—				5,085				—				30,183
Impairment of long-term investments and long-term assets			—				—				—				664
Change in fair value of warrant liability			(2,162	)			—				1,496				—
Financing transaction costs			—				—				1,085				—
Adjusted EBITDA		$	(4,843	)		$	(6,313	)		$	(6,273	)		$	(1,017	)

Cautionary Note Regarding Forward Looking Statements 
This press release contains forward-looking statements, including statements regarding future strategic initiatives and future growth, future of our development programs (including those relating to HPDI, high-pressure CNG, renewable natural gas and Hydrogen) including the expected timing of HPDI 3.0 production and vehicle availability, timing of engineering milestones and product launch schedules, scaling our alternative fuel-based solutions, our expectations for 2026 and beyond, including growth expectations, market growth and the demand for our products, Cespira’s planned capacity investments and its ability to self-fund such investments and reduce its reliance on capital contributions from its parent companies, anticipated improvements in gross profit and margin, the future success of our business and technology strategies, our ability to bolster our balance sheet, fund organic growth and raise additional capital, including under our equity facility and our liquidity and ability to continue as a going concern. These statements are neither promises nor guarantees, but involve known and unknown risks and uncertainties and are based on both the views of management and assumptions that may cause our actual results, levels of activity, performance or achievements to be materially different from any future results, levels of activities, performance or achievements expressed in or implied by these forward-looking statements. Material factors and assumptions used to develop these forward-looking statements include assumptions regarding the continuation of a favorable price differential between diesel and natural gas, demand for HPDI-equipped trucks, the timing of HPDI 3.0 production, Cespira’s ability to fund capacity investments from its own operations, the success of supply chain localization and manufacturing improvements, and the availability of financing, including under our equity facility, on acceptable terms.  Statements regarding Cespira’s self-funding and future capital requirements are provided to assist readers in understanding management’s current expectations and may not be appropriate for other purposes.  These risks, uncertainties and assumptions include those related to our revenue growth, operating results, sufficiency of cash resources, industry and products, changes in business strategy, shifts in market demand, the general economy including impacts due to inflation, the effects of competition and pricing pressures, conditions of and access to the capital and debt markets, solvency, governmental policies, trade restrictions or other changes to international trade agreements, sanctions and regulation including the imposition of tariffs, technology innovations, fluctuations in foreign exchange rates, operating expenses, continued reduction in expenses, ability to successfully commercialize new products, the performance of our joint venture, the availability and price of natural gas, new environmental regulations, the acceptance of and shift to natural gas and hydrogen vehicles, the relaxation or waiver of fuel emission standards, the inability of fleets to access capital or government funding to purchase natural gas vehicles, the development of competing technologies, our ability to adequately develop and deploy our technology, the actions and determinations of our joint venture and development partners, supply chain disruptions, commodity price expectations as well as other risk factors and assumptions that may affect our actual results, performance or achievements or financial position discussed in our most recent annual report, Form 20-F, management’s discussion and analysis and other filings with securities regulators, available on SEDAR+ and EDGAR. Readers should not place undue reliance on any such forward-looking statements, which speak only as of the date they were made. We disclaim any obligation to publicly update or revise such statements to reflect any change in our expectations or in events, conditions or circumstances on which any such statements may be based, or that may affect the likelihood that actual results will differ from those set forth in these forward-looking statements except as required by applicable securities laws. The contents of any website, RSS feed or X (formerly Twitter) account referenced in this press release are not incorporated by reference herein.

Contact Information
Aetherion Investor Relations
T: +1 604-718-2046

AETHERION TECHNOLOGIES INC.
Condensed Consolidated Interim Balance Sheets (unaudited)
(Expressed in thousands of United States dollars, except share amounts)
September 30, 2026 and December 31, 2025

		September 30, 2026				December 31, 2025
Assets
Current assets:
Cash and cash equivalents (including restricted cash)		$	14,529			$	27,158
Accounts receivable			5,981				10,177
Inventories			2,471				3,037
Prepaid expenses			1,048				1,182
Total current assets			24,029				41,554
Long-term investments			46,084				42,714
Property, plant and equipment			5,332				5,605
Operating lease right-of-use assets			1,446				1,756
Other long-term assets			432				2,380
Total assets		$	77,323			$	94,009
Liabilities and shareholders’ equity
Current liabilities:
Accounts payable and accrued liabilities		$	15,808			$	17,933
Warrant liabilities			9,210				—
Current portion of operating lease liabilities			532				493
Current portion of long-term debt			—				2,924
Current portion of warranty liability			127				199
Total current liabilities			25,677				21,549
Long-term operating lease liabilities			990				1,292
Warranty liability			941				966
Other long-term liabilities			1,390				1,389
Total liabilities			28,998				25,196
Shareholders’ equity:
Share capital:
Unlimited common and preferred shares, no par value
18,995,734 (2025 – 17,351,005) common shares issued and outstanding			1,247,185				1,246,793
Other equity instruments			9,006				8,968
Additional paid in capital			11,516				11,516
Accumulated deficit			(1,177,973	)			(1,157,901	)
Accumulated other comprehensive loss			(41,409	)			(40,563	)
Total shareholders’ equity			48,325				68,813
Total liabilities and shareholders’ equity		$	77,323			$	94,009

AETHERION TECHNOLOGIES INC.
Condensed Consolidated Interim Statements of Operations and Comprehensive Income (Loss) (unaudited)
(Expressed in thousands of United States dollars, except share and per share amounts)
 Three and six months ended September 30, 2026 and 2025

		Three months ended September 30,								Nine months ended September 30,
			2026				2025				2026				2025
Revenue		$	2,591			$	1,617			$	7,593			$	21,438
Cost of revenue			2,496				1,145				6,849				18,589
Gross profit			95				472				744				2,849
Operating expenses:
Research and development			1,041				2,319				3,475				5,186
General and administrative			3,954				4,130				10,962				10,908
Sales and marketing			318				305				749				1,038
Foreign exchange loss (gain)			(240	)			1,282				2,460				(4,145	)
Depreciation and amortization			114				146				269				360
			5,187				8,182				17,915				13,347
Loss from operations			(5,092	)			(7,710	)			(17,171	)			(10,498	)
Loss from investments accounted for by the equity method			(166	)			(3,197	)			(2,830	)			(10,767	)
Change in fair value of warrant liabilities			2,162				—				666				—
Financing transaction costs			—				—				(1,085	)			—
Interest on long-term debt			(30	)			(142	)			(188	)			(500	)
Interest and other income, net of bank charges			156				653				892				1,155
Loss before income taxes			(2,970	)			(10,396	)			(19,716	)			(20,610	)
Income tax expense			20				14				356				148
Net loss from continuing operations			(2,990	)			(10,410	)			(20,072	)			(20,758	)
Net income from discontinued operations			—				(3,316	)			—				(29,763	)
Net loss for the period			(2,990	)			(13,726	)			(20,072	)			(50,521	)
Other comprehensive income (loss):
Cumulative translation adjustment			(463	)			(4,456	)			2,274				6,106
Reclassification of accumulated foreign currency translation on disposal of operations			—				(10,070	)			—			$	(10,070	)
Ownership share of equity method investments’ other comprehensive loss			(601	)			(399	)			(3,120	)		$	(2,692	)
			(1,064	)			(14,925	)			(846	)			(6,656	)
Comprehensive loss		$	(4,054	)		$	(28,651	)		$	(20,918	)		$	(57,177	)
Net loss per share:
From continuing operations – basic and diluted		$	(0.13	)		$	(0.60	)		$	(1.05	)		$	(1.20	)
From discontinued operations – basic and diluted		$	—				(0.19	)		$	—				(1.72	)
Net loss per share – basic and diluted		$	(0.13	)		$	(0.79	)		$	(1.05	)		$	(2.91	)
Weighted average common shares outstanding:
Basic and diluted			22,250,103				17,351,005				19,173,516				17,337,428

AETHERION TECHNOLOGIES INC.
Condensed Consolidated Interim Statements of Cash Flows (unaudited)
(Expressed in thousands of United States dollars)
Three and six months ended September 30, 2026 and 2025

		Three months ended September 30,								Nine months ended September 30,
			2026				2025				2026				2025
Operating activities:
Net loss for the period from continuing operations		$	(2,990	)		$	(10,410	)		$	(20,072	)		$	(20,758	)
Adjustments to reconcile net income (loss) to net cash used in continuing operating activities:
Depreciation and amortization			310				172				777				569
Stock-based compensation expense			108				397				304				701
Unrealized foreign exchange loss (gain)			(240	)			1,282				2,460				(4,145	)
Deferred income tax (recovery)			—				9				—				—
Loss from investments accounted for by the equity method			166				3,197				2,830				10,767
Interest on long-term debt			31				22				78				67
Inventory write-downs			273				—				327				110
Credit loss provision			69				—				71				—
Change in fair value of warrant liabilities			(2,162	)			—				(666	)			—
Financing transaction costs			—				—				1,085				—
Warranty provision			61				—				(63	)			—
Net cash used before working capital changes			(4,374	)			(5,331	)			(12,869	)			(12,689	)
Changes in working capital:
Accounts receivable			(120	)			2,331				385				(5,993	)
Inventories			23				1,437				220				5,207
Prepaid expenses			(427	)			(304	)			97				616
Accounts payable and accrued liabilities			(97	)			(2,671	)			(772	)			(5,911	)
Warranty liability			(44	)			71				(1	)			76
Net cash used in operating activities from continuing operations			(5,039	)			(4,467	)			(12,940	)			(18,694	)
Net cash provided by operating activities from  discontinued operations			—				5,057				—				8,182
Investing activities:
Purchase of property, plant and equipment			(63	)			(514	)			(543	)			(1,909	)
Proceeds from sale of operations, net of cash in disposed operations			—				26,034				—				26,034
Proceeds from holdback receivable			—				—				5,844				10,450
Capital contributions to investments accounted for by the equity method			(2,763	)			(10,997	)			(9,127	)			(19,868	)
Net cash (used in) provided by investing activities from  continuing operations			(2,826	)			14,523				(3,826	)			14,707
Net cash used in investing activities from  discontinued operations			—				(222	)			—				(3,169	)
Financing activities:
Repayments of operating lines of credit and long-term facilities			(1,000	)			(6,832	)			(3,000	)			(8,832	)
Drawings on operating lines of credit and long-term facilities			—				5,839				—				5,839
Proceeds from issuance of common share, warrants, and  pre-funded warrants			—				—				10,000				—
Payment of shares and warrants issuance costs			—				0				(700	)			—
Net cash (used in) provided by  financing activities from continuing operations			(1,000	)			(993	)			6,300				(2,993	)
Net cash used in financing activities from discontinued operations			—				(74	)			—				(6,168	)
Effect of foreign exchange on cash and cash equivalents			(552	)			(2,111	)			(2,163	)			3,585
Net decrease in cash and cash equivalents			(9,417	)			11,713				(12,629	)			(4,550	)
Cash and cash equivalents, beginning of period (including restricted cash)			23,946				21,383				27,158				37,646
Cash and cash equivalents from continuing operations, end of period (including restricted cash)		$	14,529			$	33,096			$	14,529			$	33,096

~ Strong demand for LNG HPDI™ trucks continues to drive revenue growth for Cespira™ ~

VANCOUVER, British Columbia, Nov. 12, 2026 (GLOBE NEWSWIRE) — Aetherion Technologies Inc. (“Aetherion“) (TSX:AETR / Nasdaq:AETR) (previously, Westport Fuel Systems Inc.) today reported financial results for the third quarter ended September 30, 2026, and provided an update on operations. All figures are in U.S. dollars unless otherwise stated.

“Our transition to Aetherion Technologies reflects a renewed focus on the opportunities where our technology and expertise can create the greatest value: practical, scalable and cost-effective solutions for heavy-duty transportation. We are aligning our portfolio and resources around that focus, directing our specialized technical and commercial capabilities to advance solutions for these sectors starting with our high-pressure CNG solution to help open up the North American market for CNG HPDI in heavy-duty trucking.

Building on the growth trend that we saw in the first two quarters of 2026, Cespira delivered product revenue growth of 85% in Q3, as compared to the same quarter last year.  There clearly is increasing interest amongst commercial fleets globally, and particularly in Europe,  reinforcing the commercial momentum behind Cespira’s HPDI fuel system.  To address this growing demand in 2027, Cespira is investing in anticipation of this growth, with investment timing and scale aligned with customer requirements and fleet demands.

The opportunities ahead extend across fuels and markets. Cespira’s HPDI™ 3.0 fuel system is scheduled to begin production in Q4 2026, with the first equipped vehicles expected on the road in early 2027. Alongside Cespira’s next-generation platform, Aetherion has advanced its proprietary high-pressure CNG and renewable natural gas systems and solutions for North America. This solution is flexible enough to accommodate hydrogen and hydrogen / methane blended-fuel systems. Together, this system can expand market penetration for HPDI powered trucks and protect for future fuel availability while preserving the performance fleets require, supporting affordable emissions reductions, addressing energy security needs and reducing overall operational costs.

Strengthening our financial position remains a core priority. Our equity facility of up to $25 million, subject to certain limitation, provides additional financing flexibility. Our focus is on aligning investment with execution—supporting Cespira’s path toward self-funding and progressing our North American CNG solution as we build a more focused business for long-term growth.”

Dan Sceli, Chief Executive Officer 

Third Quarter 2026 Highlights 

• Revenues for the third quarter of 2026 increased by 60% to $2.6 million compared to $1.6 million in the same quarter last year.  In Q3 2025, we were moving the manufacturing into China and Cambridge, Ontario from its previous location in Italy.
• Cespira delivered strong financial performance, driven by significant growth in  product and aftermarket revenue. For the third quarter of 2026, revenue increased by $8.9 million or 46% compared to the prior year quarter. Cespira reduced its net loss by $5.7 million, continuing to reduce its reliance on funding from its partners. Aetherion reduced its capital contributions to Cespira in the quarter from $11.0 million to $2.8 million. The improvement in Cespira’s financial performance was a result of higher sales volumes driven by increasing market acceptance and confidence in the product and OEM interest in HPDI technology, and favorable diesel to natural gas and biogas fuel economics, supported by continued improvement of supply chain execution as the business prepares for the launch of HPDI 3.0.
• Significantly improved net loss from continuing operations to $3.0 million for the quarter compared to a net loss from continuing operations of $10.4 million for the same quarter last year.  The reduction in the net loss from continuing operations is due to higher revenue, lower operating expenses, improved Cespira financial performance, and a $2.2 million gain on warrant liabilities remeasurement.
• Adjusted EBITDA¹ of negative $4.8 million compared to negative $6.3 million for the same period in 2025.  The decrease in negative adjusted EBITDA was primarily driven by lower operating losses, and a decrease in the loss from investments accounted for by the equity method. Included in the prior year quarter’s adjusted EBITDA was our discontinued operations’ performance, which included an operating profit of $1.8 million for the three months ended September 30, 2025.
• Cash and cash equivalents were $14.5 million for the third quarter of 2026. Cash used in operating activities from continuing operations was $5.0 million for the quarter, primarily driven by operating losses in the quarter and changes in working capital. Cash used in investing activities from continuing operations was primarily driven by capital contributions to Cespira of $2.8 million for the quarter. Cash used in financing activities from continuing operations were primarily driven by the debt repayment of $1.0 million in the quarter.  Long term debt, including the current portion, was fully repaid in the quarter.

________________________________
_{¹ Adjusted earnings before interest, taxes and depreciation is a non-GAAP measure. Please refer to NON-GAAP FINANCIAL MEASURES in Aetherion’s Management Discussion and Analysis for the reconciliation.}

CONSOLIDATED RESULTS
($ in thousands, except per share amounts)							Increase / (Decrease) %								Increase / (Decrease) %
	3Q26			3Q25					9M26			9M25
Revenues	$	2,591		$	1,617		60	%	$	7,593		$	21,438		(65	)%
Gross Profit		95			472		(80	)%		744			2,849		(74	)%
Gross Margin %(2)		4	%		29	%				10	%		13	%
Loss from Investments Accounted for by the Equity Method(1)		(166	)		(3,197	)	(95	)%		(2,830	)		(10,767	)	(74	)%
Net Loss from Continuing Operations		(2,990	)		(10,410	)	(71	)%		(20,072	)		(20,758	)	(3	)%
Net Loss from Discontinued Operations		—			(3,316	)	100	%		—			(29,763	)	100	%
Net Loss		(2,990	)		(13,726	)	78	%		(20,072	)		(50,521	)	60	%
Net Loss per Share – Basic & Diluted	$	(0.13	)	$	(0.79	)	84	%	$	(1.05	)	$	(2.91	)	64	%
EBITDA(2)	$	(2,786	)	$	(12,814	)	78	%	$	(19,643	)	$	(42,998	)	54	%
Adjusted EBITDA(2)	$	(4,843	)	$	(6,313	)	23	%	$	(15,975	)	$	(7,337	)	(118	)%

_{⁽¹⁾ This includes income or loss from our investments in Cespira joint ventures.
⁽²⁾ Gross margin, EBITDA and Adjusted EBITDA are non-GAAP measures. Please refer to GAAP and NON-GAAP FINANCIAL MEASURES for the reconciliation to equivalent GAAP measures and limitations on the use of such measures.}

Segment Information

High-Pressure Controls

Revenue for the three and nine months ended September 30, 2026 was $2.6 million and $7.6 million, respectively, compared with $1.6 million and $6.4 million for the three and nine months ended September 30, 2025.  The increase in revenue was primarily driven by higher volume of sales in the quarter compared to prior year, which was impacted by the transition of operations to the Company’s manufacturing facilities in China and Cambridge, Ontario. As production and shipment levels normalized, the Company achieved higher shipment volumes during the current quarter, resulting in increased sales.

Gross profit was $0.1 million or 4% of revenue, for the three months ended September 30, 2026 compared to $0.5 million or 29% of revenue, for the three months ended September 30, 2025.  The decrease in gross profit margin was primarily attributable to the absence of a non-recurring, high-margin engineering services revenue recognized in the prior year period. We anticipate that as the manufacturing plants in Canada and China continue to work on localizing supply chain and improving their manufacturing processes and output, its gross profit and margin will benefit.

Heavy-Duty OEM

The segment’s transitional service agreement with Cespira ended in Q2 2025 and, as a result, the segment did not have any sales activity in the quarter.

Selected Cespira Statements of Operations Data

We account for Cespira using the equity method of accounting. However, due to its significance to our long-term strategy and operating results, we disclose selected Cespira financial information in our interim financial statements for the three and nine months ended September 30, 2026.

The following table sets forth a summary of the financial results of Cespira for the three and nine months ended September 30, 2026.

		Three months ended September 30,								Change							Nine months ended September 30,								Change
(in thousands of U.S. dollars)			2026				2025			$				%				2026				2025			$				%
Product revenue		$	20,683			$	11,184			$	9,499			85	%		$	54,820			$	29,634			$	25,186			85	%
Aftermarket revenue		$	4,888			$	3,589			$	1,299			36	%			14,678				9,308			$	5,370			58	%
Service revenue		$	2,676			$	4,555				(1,879	)		(41	)%			8,069				9,205				(1,136	)		(12	)%
Total revenue		$	28,247			$	19,328				8,919			46	%			77,567				48,147				29,420			61	%
Gross profit1		$	3,689			$	(1,036	)			4,725			456	%			9,079				(2,447	)			11,526			471	%
Gross margin %			13	%		(5		)%										12	%		(5		)%
Research & development		$	1,095			$	1,135				(40	)		(4	)%			3,757				6,025				(2,268	)		(38	)%
Selling, general, & administrative		$	3,356			$	2,767				589			21	%			9,471				8,804				667			8	%
Operating loss		$	(452	)		$	(5,918	)			5,466			(92	)%			(5,163	)			(19,758	)			14,595			(74	)%
Net loss		$	(301	)		$	(6,034	)			5,733			(95	)%			(5,199	)			(19,778	)			14,579			(74	)%

_{⁽¹⁾ Gross margin are non-GAAP measures. Please refer to GAAP and NON-GAAP FINANCIAL MEASURES for the reconciliation to equivalent GAAP measures and limitations on the use of such measures.}

Product Revenue for the three and nine months ended September 30, 2026 was $20.7 million and $54.8 million compared to $11.2 million and $29.6 million for the three and nine months ended September 30, 2025. The increase in revenue of 85% in the current quarter was primarily driven by significantly higher volumes of systems sold compared to the prior year quarter. The year to date revenue growth was primarily driven by significantly higher volumes of systems sold in each of the first three quarters of 2026 compared to the corresponding prior year periods. Cespira’s growth is influenced by the resilient favorable price differential between diesel and natural gas and government regulation support in markets like Europe. Growth was also supported by increasing industry recognition of HPDI technology as a commercially viable low emissions solution for heavy-duty transportation.

Aftermarket Revenue for the three and nine months ended September 30, 2026 was $4.9 million and $14.7 million compared to $3.6 million and $9.3 million for the three and nine months ended September 30, 2025. The increase in aftermarket revenue is primarily driven by an increase in sales volumes.

Service Revenue for the three and nine months ended September 30, 2026 was $2.7 million and $8.1 million compared to $4.6 million and $9.2 million for the three and nine months ended September 30, 2025. The decrease in service revenue for the three and nine month periods was primarily attributable to the timing of project milestone achievements, with higher milestone revenue recognized in the prior-year periods. Service revenue allocated to project milestones are weighted differently across the phases of an engineering service revenue project. One of Cespira’s significant long-term engineering service revenue projects is expected to complete in Q4 2026 in advance of the anticipated launch of their HPDI 3.0  product.

Gross profit was $3.7 million and $9.1 million for the three and nine months ended September 30, 2026 compared to gross loss of $1.0 million and $2.4 million for the three and nine months ended September 30, 2025. The increase in gross profit was primarily driven by the increase in volumes of systems and aftermarket products sold along with cost reductions in materials and improvements in labor efficiency.

Cespira had an operating loss of $0.5 million and $5.2 million for the three and nine months ended September 30, 2026 compared to $5.9 million and $19.8 million for the three and nine months ended September 30, 2025. Cespira significantly reduced its operating loss compared to the prior year quarter by meaningfully increasing its product revenue, gross margin and lowering its cost base as it continues to grow and scale the business. The improvement also reflects management’s focus on growing volumes, enabling supply chain execution and maintaining a tightly controlled cost environment as it prepares for the launch of HPDI 3.0.

Cespira sees continued growth opportunities in the LNG heavy-duty market, as favorable fuel-price differentials relative to diesel, concerns around energy availability and security, and tightening emissions regulations strengthen the case for fleet adoption of HPDI technology. To capture this opportunity, Cespira is evaluating capacity investments in 2027, scaled to align to anticipated demand. These investments are expected to be self-funded through Cespira’s operations. Combined with improving operating leverage and disciplined cost management, this approach positions Cespira to translate higher demand into stronger financial performance.

Liquidity and Going Concern

As at September 30, 2026, we had cash and cash equivalents of $14.5 million and no long-term debt. 

Based on our projected capital expenditures and operating requirements under our current business plan, we are projecting that our cash and cash equivalents will not be sufficient to fund our operations through the next twelve months from the date of the issuance of our Q3 2026 MD&A. These conditions raise substantial doubt about Aetherion’s ability to continue as a going concern within one year after the date that our Q3 2026 MD&A is issued. 

Although the Company was able to raise equity financing in the prior quarters, management continues to evaluate  different options to improve Aetherion’s liquidity position, including  access to the Committed Equity Facility, raising funds from the public markets,  borrowing debt or other financing alternatives. These plans are not final and are subject to market and other conditions not within our control. As such, there can be no assurances that Aetherion will be successful in obtaining sufficient funding. Accordingly, we concluded under the accounting standards that these plans do not alleviate the substantial doubt about Aetherion’s ability to continue as a going concern.

Conference call 

Aetherion has scheduled a conference call for Friday, November 13, 2026, at 7:00 am Pacific Time (9:00 am Eastern Time) to discuss these results. To access the conference call please register at https://register-conf.media-server.com/register/BI35b93703f9b94c79af5e7d30753ef513

The live webcast of the conference call can be accessed through the Aetherion website at  https://investors.aetheriontech.com/.

Participants may register up to 60 minutes before the event by clicking on the call link and completing the online registration form. Upon registration, the user will receive dial-in info and a unique PIN, along with an email confirming the details. 

The webcast will be archived on Aetherion’s website at https://investors.aetheriontech.com.

Financial Statements and Management’s Discussion and Analysis  

To view Aetherion’s full financials for the third quarter ended September 30, 2026, please visit https://investors.aetheriontech.com/.

About Aetherion Technologies

Aetherion Technologies Inc. is a global clean transportation technology company delivering proven, commercially ready solutions that help fleets and original equipment manufacturers (OEMs) improve performance, efficiency and energy flexibility. Built on decades of engineering expertise, Aetherion develops advanced fuel delivery, storage and control technologies for heavy-duty mobility applications. Its proven technologies support a wide range of alternative fuels—including natural gas, renewable natural gas and hydrogen—empowering OEMs and commercial transportation fleets to meet demanding performance standards, evolving regulatory requirements and climate objectives in a cost-effective way. Through its portfolio of differentiated technologies and strategic partnerships, Aetherion is accelerating practical, scalable pathways to affordable, lower-emission transportation worldwide. Aetherion is headquartered in Vancouver, Canada. For more information, visit www.aetheriontech.com.

GAAP and NON-GAAP FINANCIAL MEASURES

Our financial statements are prepared in accordance with U.S. generally accepted accounting principles (“U.S. GAAP”). These U.S. GAAP financial statements include non-cash charges and other charges and benefits that may be unusual or infrequent in nature or that we believe may make comparisons to our prior or future performance difficult. In addition to conventional measures prepared in accordance with U.S. GAAP, Aetherion and certain investors use EBITDA and Adjusted EBITDA as an indicator of our ability to generate liquidity by producing operating cash flow to fund working capital needs, service debt obligations and fund capital expenditures. Management also uses these non-GAAP measures in its review and evaluation of the financial performance of Aetherion. EBITDA is also frequently used by investors and analysts for valuation purposes whereby EBITDA is multiplied by a factor or “EBITDA multiple” that is based on an observed or inferred relationship between EBITDA and market values to determine the approximate total enterprise value of a company. We believe that these non-GAAP financial measures also provide additional insight to investors and securities analysts as supplemental information to our U.S. GAAP results and as a basis to compare our financial performance period-over-period and to compare our financial performance with that of other companies. We believe that these non-GAAP financial measures facilitate comparisons of our core operating results from period to period and to other companies by, in the case of EBITDA, removing the effects of our capital structure (net interest income on cash deposits, interest expense on outstanding debt and debt facilities), asset base (depreciation and amortization) and tax consequences. Adjusted EBITDA provides this same indicator of Aetherion’s EBITDA from continuing operations and removing such effects of our capital structure, asset base and tax consequences, but additionally excludes any unrealized foreign exchange gains or losses, stock-based compensation charges and other one-time impairments and costs which are not expected to be repeated in order to provide greater insight into the cash flow being produced from our operating business, without the influence of extraneous events.

Segment Information

EBITDA and Adjusted EBITDA are intended to provide additional information to investors and analysts and do not have any standardized definition under U.S. GAAP, and should not be considered in isolation or as a substitute for measures of performance prepared in accordance with U.S. GAAP. EBITDA and Adjusted EBITDA exclude the impact of cash costs of financing activities and taxes, and the effects of changes in operating working capital balances, and therefore are not necessarily indicative of operating profit or cash flow from operations as determined under U.S. GAAP. Other companies may calculate EBITDA and Adjusted EBITDA differently.

Segment earnings or losses before income taxes, interest, depreciation, and amortization (“Segment EBITDA”) is the measure of segment profitability used by the Company. The accounting policies of our reportable segments are the same as those applied in our consolidated financial statements. Management prepared the financial results of the Company’s reportable segments on basis that is consistent with the manner in which Management internally disaggregates financial information to assist in making internal operating decisions. Certain common costs and expenses, primarily corporate functions, among segments differently than we would for stand-alone financial information prepared in accordance with GAAP. These include certain costs and expenses of shared services, such as IT, human resources, legal, finance and supply chain management.  Segment EBITDA is not defined under U.S. GAAP and may not be comparable to similarly titled measures used by other companies and should not be considered a substitute for net earnings or other results reported in accordance with GAAP. Reconciliations of reportable segment information to consolidated statement of operations can be found in section “Non-GAAP Measure & Reconciliations” within this this press release.

	Three months ended September 30, 2026
	High-Pressure Controls				Cespira				Total Segment
Revenue	$	2,591			$	28,247			$	30,838
Cost of revenue		2,496				24,558				27,054
Gross profit		95				3,689				3,784
Operating expenses:
Research & development		650				1,095				1,745
General & administrative		588				2,248				2,836
Sales & marketing		92				1,108				1,200
Depreciation & amortization		50				741				791
		1,380				5,192				6,572
Add back: Depreciation & amortization		246				1,094				1,340
Segment EBITDA	$	(1,039	)		$	(409	)		$	(1,448	)

	Three months ended September 30, 2025
	High-Pressure Controls & Systems				Heavy-Duty OEM				Cespira				Total Segment
Revenue	$	1,606			$	11			$	19,328			$	20,945
Cost of revenue		1,145				—				20,364				21,509
Gross profit		461				11				(1,036	)			(564	)
Operating expenses:
Research & development		2,293				26				1,135				3,454
General & administrative		484				34				2,410				2,928
Sales & marketing		103				3				357				463
Depreciation & amortization		108				—				833				941
		2,988				63				4,735				7,786
Add back: Depreciation & amortization		134				—				1,610				1,744
Segment EBITDA	$	(2,393	)		$	(52	)		$	(4,161	)		$	(6,606	)

	Nine months ended September 30, 2026
	High-Pressure Controls				Cespira				Total Segment
Revenue	$	7,593			$	77,567			$	85,160
Cost of revenue		6,849				68,488				75,337
Gross profit		744				9,079				9,823
Operating expenses:
Research and development		2,388				3,757				6,145
General and administrative		1,700				7,481				9,181
Sales and marketing		318				1,990				2,308
Depreciation and amortization		146				2,514				2,660
		4,552				15,742				20,294
Add back: Depreciation and amortization		654				3,029				3,683
Segment EBITDA	$	(3,154	)		$	(3,634	)		$	(6,788	)

	Nine months ended September 30, 2025
	High-Pressure Controls				Heavy-Duty OEM			Cespira				Total Segment
Revenue	$	6,392			$	15,046		$	48,147			$	69,585
Cost of revenue		5,313				13,276			50,594				69,183
Gross profit		1,079				1,770			(2,447	)			402
Operating expenses:
Research and development		5,027				159			6,025				11,211
General and administrative		1,189				133			7,829				9,151
Sales and marketing		253				26			975				1,254
Depreciation and amortization		223				—			2,423				2,646
		6,692				318			17,252				24,262
Add back: Depreciation and amortization		432				—			4,901				5,333
Segment EBITDA	$	(5,181	)		$	1,452		$	(14,798	)		$	(18,527	)

	Three months ended September 30, 2026
	Total Segment			Less: Cespira			Add: Corporate & unallocated				Total Consolidated
Revenue	$	30,838		$	28,247		$	—			$	2,591
Cost of revenue		27,054			24,558			—				2,496
Gross profit		3,784			3,689			—				95
Operating expenses:
Research & development		1,745			1,095			391				1,041
General & administrative		2,836			2,248			3,366				3,954
Sales & marketing		1,200			1,108			226				318
Depreciation & amortization		791			741			64				114
		6,572			5,192			4,047				5,427
Equity loss		—			—			(166	)			(166	)

	Three months ended September 30, 2025
	Total Segment				Less: Cespira				Add: Corporate & unallocated				Total Consolidated
Revenue	$	20,945			$	19,328			$	—			$	1,617
Cost of revenue		21,509				20,364				—				1,145
Gross profit		(564	)			(1,036	)			—				472
Operating expenses:
Research & development		3,454				1,135				—				2,319
General & administrative		2,928				2,410				3,612				4,130
Sales & marketing		463				357				199				305
Depreciation & amortization		941				833				38				146
		7,786				4,735				3,849				6,900
Equity loss		—				—				(3,197	)			(3,197	)

	Nine months ended September 30, 2026
	Total Segment			Less: Cespira			Add: Corporate & unallocated				Total Consolidated
Revenue	$	85,160		$	77,567		$	—			$	7,593
Cost of revenue		75,337			68,488			—				6,849
Gross profit		9,823			9,079			—				744
Operating expenses:
Research and development		6,145			3,757			1,087				3,475
General and administrative		9,181			7,481			9,262				10,962
Sales and marketing		2,308			1,990			431				749
Depreciation and amortization		2,660			2,514			123				269
		20,294			15,742			10,903				15,455
Equity loss		—			—			(2,830	)			(2,830	)

	Nine months ended September 30, 2025
	Total Segment			Less: Cespira				Add: Corporate & unallocated				Total Consolidated
Revenue	$	69,585		$	48,147			$	—			$	21,438
Cost of revenue		69,183			50,594				—				18,589
Gross profit		402			(2,447	)			—				2,849
Operating expenses:
Research and development		11,211			6,025				—				5,186
General and administrative		9,151			7,829				9,586				10,908
Sales and marketing		1,254			975				759				1,038
Depreciation and amortization		2,646			2,423				137				360
		24,262			17,252				10,482				17,492
Equity loss		—			—				(10,767	)			(10,767	)

Reconciliation of Segment EBITDA to Loss before income taxes		Three months ended September 30,								Nine months ended September 30,
			2026				2025				2026				2025
Total Segment EBITDA		$	(1,448	)		$	(6,606	)		$	(6,788	)		$	(18,527	)
Adjustments:
Depreciation and amortization			310				172				777				569
Cespira’s Segment EBITDA			(409	)			(4,161	)			(3,634	)			(14,798	)
Loss on investments accounted for under the equity method			166				3,197				2,830				10,767
Corporate and unallocated operating expenses			3,983				3,811				10,780				10,345
Foreign exchange gain (loss)			(240	)			1,282				2,460				(4,145	)
Change in fair value of warrant liability			(2,162	)			—				(666	)			—
Financing transaction costs			—				—				1,085				—
Interest on long-term debt			30				142				188				500
Interest and other income, net of bank charges			(156	)			(653	)			(892	)			(1,155	)
Loss before income taxes in continuing operations		$	(2,970	)		$	(10,396	)		$	(19,716	)		$	(20,610	)

Gross Profit and Gross Margin
(expressed  in thousands  of U.S. dollars)		3Q26		3Q25		2Q26		2Q25
Three months ended
Revenue		$2,591		$1,617		$2,717		$12,498
Less: Cost of revenue		2,496		1,145		2,584		11,656
Gross profit		95		472		133		842
Gross margin %		4%		29%		5%		7%

EBITDA and Adjusted EBITDA
(expressed  in thousands of U.S. dollars)		3Q26				3Q25				2Q26				2Q25
Three months ended
Income (Loss) before income taxes		$	(2,970	)		$	(13,523	)		$	11,152			$	32,671
Interest expense (income), net			(126	)			(532	)			74				571
Depreciation and amortization			310				1,241				255				2,051
EBITDA			(2,786	)			(12,814	)			(10,823	)			(30,049	)
Stock based compensation			345				(221	)			276				451
Unrealized foreign exchange (gain) loss			(240	)			839				1,693				(2,362	)
Severance costs			—				798				—				96
Loss on disposal of operations			—				5,085				—				30,183
Impairment of long-term investments and long-term assets			—				—				—				664
Change in fair value of warrant liability			(2,162	)			—				1,496				—
Financing transaction costs			—				—				1,085				—
Adjusted EBITDA		$	(4,843	)		$	(6,313	)		$	(6,273	)		$	(1,017	)

Cautionary Note Regarding Forward Looking Statements 
This press release contains forward-looking statements, including statements regarding future strategic initiatives and future growth, future of our development programs (including those relating to HPDI, high-pressure CNG, renewable natural gas and Hydrogen) including the expected timing of HPDI 3.0 production and vehicle availability, timing of engineering milestones and product launch schedules, scaling our alternative fuel-based solutions, our expectations for 2026 and beyond, including growth expectations, market growth and the demand for our products, Cespira’s planned capacity investments and its ability to self-fund such investments and reduce its reliance on capital contributions from its parent companies, anticipated improvements in gross profit and margin, the future success of our business and technology strategies, our ability to bolster our balance sheet, fund organic growth and raise additional capital, including under our equity facility and our liquidity and ability to continue as a going concern. These statements are neither promises nor guarantees, but involve known and unknown risks and uncertainties and are based on both the views of management and assumptions that may cause our actual results, levels of activity, performance or achievements to be materially different from any future results, levels of activities, performance or achievements expressed in or implied by these forward-looking statements. Material factors and assumptions used to develop these forward-looking statements include assumptions regarding the continuation of a favorable price differential between diesel and natural gas, demand for HPDI-equipped trucks, the timing of HPDI 3.0 production, Cespira’s ability to fund capacity investments from its own operations, the success of supply chain localization and manufacturing improvements, and the availability of financing, including under our equity facility, on acceptable terms.  Statements regarding Cespira’s self-funding and future capital requirements are provided to assist readers in understanding management’s current expectations and may not be appropriate for other purposes.  These risks, uncertainties and assumptions include those related to our revenue growth, operating results, sufficiency of cash resources, industry and products, changes in business strategy, shifts in market demand, the general economy including impacts due to inflation, the effects of competition and pricing pressures, conditions of and access to the capital and debt markets, solvency, governmental policies, trade restrictions or other changes to international trade agreements, sanctions and regulation including the imposition of tariffs, technology innovations, fluctuations in foreign exchange rates, operating expenses, continued reduction in expenses, ability to successfully commercialize new products, the performance of our joint venture, the availability and price of natural gas, new environmental regulations, the acceptance of and shift to natural gas and hydrogen vehicles, the relaxation or waiver of fuel emission standards, the inability of fleets to access capital or government funding to purchase natural gas vehicles, the development of competing technologies, our ability to adequately develop and deploy our technology, the actions and determinations of our joint venture and development partners, supply chain disruptions, commodity price expectations as well as other risk factors and assumptions that may affect our actual results, performance or achievements or financial position discussed in our most recent annual report, Form 20-F, management’s discussion and analysis and other filings with securities regulators, available on SEDAR+ and EDGAR. Readers should not place undue reliance on any such forward-looking statements, which speak only as of the date they were made. We disclaim any obligation to publicly update or revise such statements to reflect any change in our expectations or in events, conditions or circumstances on which any such statements may be based, or that may affect the likelihood that actual results will differ from those set forth in these forward-looking statements except as required by applicable securities laws. The contents of any website, RSS feed or X (formerly Twitter) account referenced in this press release are not incorporated by reference herein.

Contact Information
Aetherion Investor Relations
T: +1 604-718-2046

AETHERION TECHNOLOGIES INC.
Condensed Consolidated Interim Balance Sheets (unaudited)
(Expressed in thousands of United States dollars, except share amounts)
September 30, 2026 and December 31, 2025

		September 30, 2026				December 31, 2025
Assets
Current assets:
Cash and cash equivalents (including restricted cash)		$	14,529			$	27,158
Accounts receivable			5,981				10,177
Inventories			2,471				3,037
Prepaid expenses			1,048				1,182
Total current assets			24,029				41,554
Long-term investments			46,084				42,714
Property, plant and equipment			5,332				5,605
Operating lease right-of-use assets			1,446				1,756
Other long-term assets			432				2,380
Total assets		$	77,323			$	94,009
Liabilities and shareholders’ equity
Current liabilities:
Accounts payable and accrued liabilities		$	15,808			$	17,933
Warrant liabilities			9,210				—
Current portion of operating lease liabilities			532				493
Current portion of long-term debt			—				2,924
Current portion of warranty liability			127				199
Total current liabilities			25,677				21,549
Long-term operating lease liabilities			990				1,292
Warranty liability			941				966
Other long-term liabilities			1,390				1,389
Total liabilities			28,998				25,196
Shareholders’ equity:
Share capital:
Unlimited common and preferred shares, no par value
18,995,734 (2025 – 17,351,005) common shares issued and outstanding			1,247,185				1,246,793
Other equity instruments			9,006				8,968
Additional paid in capital			11,516				11,516
Accumulated deficit			(1,177,973	)			(1,157,901	)
Accumulated other comprehensive loss			(41,409	)			(40,563	)
Total shareholders’ equity			48,325				68,813
Total liabilities and shareholders’ equity		$	77,323			$	94,009

AETHERION TECHNOLOGIES INC.
Condensed Consolidated Interim Statements of Operations and Comprehensive Income (Loss) (unaudited)
(Expressed in thousands of United States dollars, except share and per share amounts)
 Three and six months ended September 30, 2026 and 2025

		Three months ended September 30,								Nine months ended September 30,
			2026				2025				2026				2025
Revenue		$	2,591			$	1,617			$	7,593			$	21,438
Cost of revenue			2,496				1,145				6,849				18,589
Gross profit			95				472				744				2,849
Operating expenses:
Research and development			1,041				2,319				3,475				5,186
General and administrative			3,954				4,130				10,962				10,908
Sales and marketing			318				305				749				1,038
Foreign exchange loss (gain)			(240	)			1,282				2,460				(4,145	)
Depreciation and amortization			114				146				269				360
			5,187				8,182				17,915				13,347
Loss from operations			(5,092	)			(7,710	)			(17,171	)			(10,498	)
Loss from investments accounted for by the equity method			(166	)			(3,197	)			(2,830	)			(10,767	)
Change in fair value of warrant liabilities			2,162				—				666				—
Financing transaction costs			—				—				(1,085	)			—
Interest on long-term debt			(30	)			(142	)			(188	)			(500	)
Interest and other income, net of bank charges			156				653				892				1,155
Loss before income taxes			(2,970	)			(10,396	)			(19,716	)			(20,610	)
Income tax expense			20				14				356				148
Net loss from continuing operations			(2,990	)			(10,410	)			(20,072	)			(20,758	)
Net income from discontinued operations			—				(3,316	)			—				(29,763	)
Net loss for the period			(2,990	)			(13,726	)			(20,072	)			(50,521	)
Other comprehensive income (loss):
Cumulative translation adjustment			(463	)			(4,456	)			2,274				6,106
Reclassification of accumulated foreign currency translation on disposal of operations			—				(10,070	)			—			$	(10,070	)
Ownership share of equity method investments’ other comprehensive loss			(601	)			(399	)			(3,120	)		$	(2,692	)
			(1,064	)			(14,925	)			(846	)			(6,656	)
Comprehensive loss		$	(4,054	)		$	(28,651	)		$	(20,918	)		$	(57,177	)
Net loss per share:
From continuing operations – basic and diluted		$	(0.13	)		$	(0.60	)		$	(1.05	)		$	(1.20	)
From discontinued operations – basic and diluted		$	—				(0.19	)		$	—				(1.72	)
Net loss per share – basic and diluted		$	(0.13	)		$	(0.79	)		$	(1.05	)		$	(2.91	)
Weighted average common shares outstanding:
Basic and diluted			22,250,103				17,351,005				19,173,516				17,337,428

AETHERION TECHNOLOGIES INC.
Condensed Consolidated Interim Statements of Cash Flows (unaudited)
(Expressed in thousands of United States dollars)
Three and six months ended September 30, 2026 and 2025

		Three months ended September 30,								Nine months ended September 30,
			2026				2025				2026				2025
Operating activities:
Net loss for the period from continuing operations		$	(2,990	)		$	(10,410	)		$	(20,072	)		$	(20,758	)
Adjustments to reconcile net income (loss) to net cash used in continuing operating activities:
Depreciation and amortization			310				172				777				569
Stock-based compensation expense			108				397				304				701
Unrealized foreign exchange loss (gain)			(240	)			1,282				2,460				(4,145	)
Deferred income tax (recovery)			—				9				—				—
Loss from investments accounted for by the equity method			166				3,197				2,830				10,767
Interest on long-term debt			31				22				78				67
Inventory write-downs			273				—				327				110
Credit loss provision			69				—				71				—
Change in fair value of warrant liabilities			(2,162	)			—				(666	)			—
Financing transaction costs			—				—				1,085				—
Warranty provision			61				—				(63	)			—
Net cash used before working capital changes			(4,374	)			(5,331	)			(12,869	)			(12,689	)
Changes in working capital:
Accounts receivable			(120	)			2,331				385				(5,993	)
Inventories			23				1,437				220				5,207
Prepaid expenses			(427	)			(304	)			97				616
Accounts payable and accrued liabilities			(97	)			(2,671	)			(772	)			(5,911	)
Warranty liability			(44	)			71				(1	)			76
Net cash used in operating activities from continuing operations			(5,039	)			(4,467	)			(12,940	)			(18,694	)
Net cash provided by operating activities from  discontinued operations			—				5,057				—				8,182
Investing activities:
Purchase of property, plant and equipment			(63	)			(514	)			(543	)			(1,909	)
Proceeds from sale of operations, net of cash in disposed operations			—				26,034				—				26,034
Proceeds from holdback receivable			—				—				5,844				10,450
Capital contributions to investments accounted for by the equity method			(2,763	)			(10,997	)			(9,127	)			(19,868	)
Net cash (used in) provided by investing activities from  continuing operations			(2,826	)			14,523				(3,826	)			14,707
Net cash used in investing activities from  discontinued operations			—				(222	)			—				(3,169	)
Financing activities:
Repayments of operating lines of credit and long-term facilities			(1,000	)			(6,832	)			(3,000	)			(8,832	)
Drawings on operating lines of credit and long-term facilities			—				5,839				—				5,839
Proceeds from issuance of common share, warrants, and  pre-funded warrants			—				—				10,000				—
Payment of shares and warrants issuance costs			—				0				(700	)			—
Net cash (used in) provided by  financing activities from continuing operations			(1,000	)			(993	)			6,300				(2,993	)
Net cash used in financing activities from discontinued operations			—				(74	)			—				(6,168	)
Effect of foreign exchange on cash and cash equivalents			(552	)			(2,111	)			(2,163	)			3,585
Net decrease in cash and cash equivalents			(9,417	)			11,713				(12,629	)			(4,550	)
Cash and cash equivalents, beginning of period (including restricted cash)			23,946				21,383				27,158				37,646
Cash and cash equivalents from continuing operations, end of period (including restricted cash)		$	14,529			$	33,096			$	14,529			$	33,096