Author: Ravi Shankar

Planned global Phase 3 LEGACY trial of tegoprubart in kidney transplantation remains on track to initiate in Q4 2026

FDA cleared the Company’s IND application for a planned registrational path study of tegoprubart in islet cell transplantation for patients with type 1 diabetes

FDA Fast Track designation granted to tegoprubart for the prevention of rejection in kidney transplantation

Cash, cash equivalents and short-term investments of $69.7 million with cash runway into Q2 2027

IRVINE, Calif., Nov. 12, 2026 (GLOBE NEWSWIRE) — Eledon Pharmaceuticals, Inc. (“Eledon”) (Nasdaq: ELDN) today reported its third quarter 2026 operating and financial results and provided recent business highlights.

“We continue to execute across our key strategic priorities and make meaningful progress in the tegoprubart clinical program across multiple transplant types, including plans to initiate our global Phase 3 LEGACY trial in kidney transplantation by year end,” said David-Alexandre C. Gros, M.D., Chief Executive Officer of Eledon. “New patient-reported outcomes data from the Phase 2 BESTOW program further strengthened the evidence supporting tegoprubart’s differentiated profile compared to today’s standard of care immunosuppression therapy, while investigator-initiated studies and compassionate-use protocols help expand our understanding of tegoprubart and its therapeutic potential in different transplant settings where significant unmet needs remain.”

Third Quarter 2026 Business Highlights

Kidney Transplantation

• New patient-reported outcomes data from the Phase 2 BESTOW clinical program were presented at the American Society of Nephrology (ASN) Kidney Week 2026 Annual Meeting in October 2026. Results demonstrated sustained improvements in quality of life and symptom burden in kidney transplant recipients treated with tegoprubart compared with tacrolimus, today’s standard of care immunosuppression therapy. Tegoprubart-treated patients demonstrated a mean improvement on the total Modified Transplant Symptom Occurrence and Symptom Distress Scale (MTSOSD-59R) at 12 months while tacrolimus-treated patients experienced a mean worsening of symptom occurrence. Patients treated with tegoprubart also experienced a statistically significant improvement on the Kidney Disease Quality of Life Short Form (KDQOL-SF) Symptoms and Problems Scale through 12 months following transplantation compared with tacrolimus.
• Updated long-term data from the Phase 2 BESTOW extension study were presented at the International Congress of the Transplantation Society (TTS) in September 2026. Tegoprubart-treated patients maintained statistically significantly higher mean estimated glomerular filtration rate (eGFR) at 18, 21, and 24 months, with an approximately 13 mL/min/1.73m² advantage over tacrolimus at month 24 (71 vs. 58 mL/min/1.73m² (95% CI: 2.6, 23.3)). There were no reported cases of biopsy-proven acute rejection (BPAR) in the tegoprubart arm beyond six months post-transplant compared with seven BPAR events in the tacrolimus arm.
• The first highly sensitized kidney transplant patient was dosed with tegoprubart under a compassionate-use protocol at Duke University Medical Center. Highly sensitized patients requiring a kidney transplant face a substantial unmet need because pre-existing antibodies can significantly limit access to compatible donor organs and increase the risk of antibody-mediated rejection and graft loss post-transplant.
• The third patient was treated as part of the investigator-initiated study evaluating tegoprubart for kidney transplant tolerance induction at Massachusetts General Hospital (MGH).
• Tegoprubart received Fast Track designation from the U.S. Food and Drug Administration (FDA) for the prevention of rejection in kidney transplantation.

Islet Cell Transplantation

• The FDA cleared the Investigational New Drug (IND) application for a planned Company-sponsored, registrational path clinical trial evaluating tegoprubart for the prevention of allograft rejection in type 1 diabetes (T1D) patients undergoing pancreatic islet cell transplantation.
• The first patients were enrolled in an investigator-initiated clinical trial underway at the University of Chicago Medicine Transplant Institute, evaluating tegoprubart for the prevention of allograft rejection in patients with T1D and renal dysfunction from chronic kidney disease who are receiving an islet cell transplant.
• The first islet cell transplant recipient was dosed with tegoprubart under a compassionate-use protocol allowing patients to switch from tacrolimus-based immunosuppression therapy due to calcineurin inhibitor-related renal dysfunction.
• The University of Chicago Medicine Transplant Institute expanded its ongoing investigator-initiated study evaluating tegoprubart as the core immunosuppressant for T1D patients undergoing islet cell transplantation by enrolling three additional subjects. This will help build on previously reported study results in the 12 patients treated to date, who have achieved 100% insulin independence and demonstrated stable islet graft function through 22 months of follow-up with a favorable tolerability profile. No evidence of nephrotoxicity, hypertension, or neurotoxicity, which are side effects often associated with calcineurin inhibitors such as tacrolimus, has been observed to date.

Anticipated Upcoming Milestones

The Company anticipates the following milestones over the next 12 months:

• Initiate global Phase 3 LEGACY trial of tegoprubart in kidney transplantation in the fourth quarter of 2026. The LEGACY trial is expected to enroll approximately 600 patients, with a primary endpoint of non-inferiority of tegoprubart versus tacrolimus at 52 weeks based on a composite of BPAR, graft loss, and death.
• Initiate a Company-sponsored, registrational path study evaluating tegoprubart in T1D patients undergoing islet cell transplantation.
• Initiate an investigator-led study evaluating tegoprubart for the prevention of organ rejection in patients receiving a de novo liver transplant.
• Receive FDA regulatory guidance on the path to market for tegoprubart in kidney xenotransplantation.

Third Quarter 2026 Financial Results

Cash, cash equivalents and short-term investments totaled $69.7 million as of September 30, 2026, compared to $133.3 million as of December 31, 2025. The Company expects cash, cash equivalents and short-term investments currently on hand to fund operations into Q2 2027.

Research and development (R&D) expenses for the third quarter of 2026 were $17.8 million, including $0.9 million of non-cash stock-based compensation expense, compared to $15.0 million, including $1.1 million of non-cash stock-based compensation expense, for the comparable period in 2025.

General and administrative (G&A) expenses for the third quarter of 2026 were $3.9 million, including $1.0 million of non-cash stock-based compensation expense, compared to $4.1 million, including $1.4 million of non-cash stock-based compensation expense, for the comparable period in 2025.

Net loss for the third quarter of 2026 was $3.9 million, or $0.03 per basic common share, compared to a net loss of $17.5 million, or $0.21 per basic common share, for the comparable period in 2025. Net loss in the third quarter of 2026 included a non-cash gain of $17.0 million from changes in the fair value of warrant liabilities, while the 2025 net loss included a non-cash gain of $0.6 million from such changes. Excluding the non-cash items related to changes in the fair value of warrant liabilities, Eledon would have recorded a net loss of $21.0 million for the three months ended September 30, 2026, and $18.0 million for the three months ended September 30, 2025.

About Eledon Pharmaceuticals and tegoprubart

Eledon Pharmaceuticals, Inc. is a clinical stage biotechnology company that is developing immune-modulating therapies for the management and treatment of life-threatening conditions. The Company’s lead investigational product is tegoprubart, an anti-CD40L antibody with high affinity for the CD40 Ligand, a well-validated biological target that has broad therapeutic potential. The central role of CD40L signaling in both adaptive and innate immune cell activation and function positions it as an attractive target for non-lymphocyte depleting, immunomodulatory therapeutic intervention. The Company is building upon a deep historical knowledge of anti-CD40L biology to conduct preclinical and clinical studies in kidney allograft transplantation, xenotransplantation, islet cell transplantation, liver transplantation, and amyotrophic lateral sclerosis (ALS). Eledon is headquartered in Irvine, California. For more information, please visit the Company’s website at www.eledon.com.

Follow Eledon Pharmaceuticals on social media: LinkedIn; X

Forward-Looking Statements

This press release contains forward-looking statements that involve substantial risks and uncertainties. Any statements about the Company’s future expectations, plans and prospects, including statements about planned clinical trials, the development of product candidates, expected timing for initiation of future clinical trials, expected timing for receipt of data from clinical trials, the Company’s capital resources and ability to finance planned clinical trials, as well as other statements containing the words “believes,” “anticipates,” “plans,” “expects,” “estimates,” “intends,” “predicts,” “projects,” “targets,” “looks forward,” “could,” “may,” and similar expressions, constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Specifically, our ability to achieve our anticipated future development and corporate milestones depends on our ability to obtain additional financing on acceptable terms. Forward-looking statements are inherently uncertain and are subject to numerous risks and uncertainties, including: our short operating history and shifts in our business strategy; our operating losses since inception; our need for additional funding to develop our lead drug candidate and our ability to secure additional funding on acceptable terms or at all; the impact of issuances of our common stock, including the possibility of dilution or a decline in our stock price; our ability to successfully develop our product candidates; unfavorable global economic and financial market conditions; the regulatory environment of our business and our ability to obtain required regulatory approvals; results of non-clinical studies and clinical trials, and risks that non-clinical studies or early clinical trials may not be predictive of results of later-stage clinical trials; delays or difficulties in enrollment of patients in clinical trials; our ability to attract and retain our executives and key employees; legislation of the pharmaceutical and healthcare industries; cybersecurity and data privacy risks; the ability of our products to achieve marketing approval; competition in our industry; our ability to obtain insurance coverage; our dependence on contract research organizations; our ability to protect our intellectual property; public health crises; our ability to maintain proper and effective internal control over financial reporting and other risks disclosed in our Annual Report on Form 10-K for the year ended December 31, 2025, filed with the Securities and Exchange Commission on March 19, 2026. Actual results may differ materially from those indicated by such forward-looking statements as a result of various factors. These risks and uncertainties, as well as other risks and uncertainties that could cause the Company’s actual results to differ materially from the forward-looking statements contained herein, are discussed in our Annual Report on Form 10-K, and other filings with the U.S. Securities and Exchange Commission, which can be found at www.sec.gov. Any forward-looking statements contained in this press release speak only as of the date hereof and not of any future date, and the Company expressly disclaims any intent to update any forward-looking statements, whether as a result of new information, future events or otherwise.

Investor Contact:

Stephen Jasper
Gilmartin Group
(858) 525-2047
stephen@gilmartinir.com

Media Contact:

Jenna Urban
CG Life
(212) 253-8881
jurban@cglife.com

ELEDON PHARMACEUTICALS, INC. CONDENSED CONSOLIDATED BALANCE SHEETS (In thousands, except share data) (Unaudited)
		September 30, 2026				December 31, 2025
ASSETS
Current assets:
Cash and cash equivalents		$	6,882			$	22,808
Short-term investments			62,790				110,528
Prepaid expenses and other current assets			4,038				2,352
Total current assets			73,710				135,688
Operating lease asset, net			358				613
In-process research and development			32,386				32,386
Other assets			185				322
Total assets		$	106,639			$	169,009
LIABILITIES, CONVERTIBLE PREFERRED STOCK AND STOCKHOLDERS’ EQUITY
Current liabilities:
Accounts payable		$	2,842			$	3,627
Current operating lease liabilities			341				358
Accrued expenses and other liabilities			8,519				14,359
Total current liabilities			11,702				18,344
Deferred tax liabilities			2,187				2,187
Non-current operating lease liabilities			35				283
Warrant liabilities			22,901				11,416
Total liabilities			36,825				32,230
Commitments and contingencies
Convertible preferred stock, 5,000,000 shares authorized at September 30, 2026 and December 31, 2025:
Series X non-voting convertible preferred stock, $0.001 par value, 10,000 shares designated; 4,422 shares issued and outstanding at September 30, 2026 and December 31, 2025			2,151				2,151
Series X1 non-voting convertible preferred stock, $0.001 par value, 515,000 shares designated; 75,800 and 110,086 shares issued and outstanding at September 30, 2026 and December 31, 2025, respectively			36,867				53,543
Stockholders’ equity:
Common stock, $0.001 par value, 450,000,000 shares authorized at September 30, 2026 and 300,000,000 shares authorized at December 31, 2025; 81,442,402 and 75,430,033 shares issued and outstanding at September 30, 2026 and December 31, 2025, respectively			82				75
Additional paid-in capital			506,631				482,189
Accumulated other comprehensive income (loss)			(126	)			24
Accumulated deficit			(475,791	)			(401,203	)
Total stockholders’ equity			30,796				81,085
Total liabilities, convertible preferred stock and stockholders’ equity		$	106,639			$	169,009

ELEDON PHARMACEUTICALS, INC. CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE LOSS (In thousands, except share and per share data) (Unaudited)
		For the Three Months Ended September 30,								For the Nine Months Ended September 30,
		2026				2025				2026				2025
Operating expenses
Research and development		$	17,761			$	14,969			$	53,188			$	48,776
General and administrative			3,911				4,101				12,534				12,991
Total operating expenses			21,672				19,070				65,722				61,767
Loss from operations			(21,672	)			(19,070	)			(65,722	)			(61,767	)
Other income, net			714				1,047				2,694				3,680
Change in fair value of warrant liabilities			17,025				564				(11,560	)			22,917
Net loss		$	(3,933	)		$	(17,459	)		$	(74,588	)		$	(35,170	)
Other comprehensive loss:
Unrealized gain (loss) on available-for-sale securities, net			(12	)			57				(150	)			(17	)
Comprehensive loss		$	(3,945	)		$	(17,402	)		$	(74,738	)		$	(35,187	)
Basic and diluted net loss per share of common stock		$	(0.03	)		$	(0.21	)		$	(0.63	)		$	(0.42	)
Weighted-average common shares outstanding, basic and diluted			114,722,339				77,156,068				113,601,123				77,146,407
Basic and diluted net loss per share of Series X and Series X1 non-voting convertible preferred stock		$	(1.83	)		$	(11.61	)		$	(34.84	)		$	(23.40	)
Weighted-average shares outstanding of Series X and Series X1 non-voting convertible preferred stock, basic and diluted			80,222				114,508				96,076				114,508

• The inventor of 3D printing to highlight the history and the future of 3D printing at key industry trade show
• Recognition for the early innovators across the industry who helped build the additive industry
• Visit booth D11 in Hall 11 at Formnext to see new developments in MultiJet 3D printing, Direct Metal 3D printing and more.

ROCK HILL, S.C., Nov. 12, 2026 (GLOBE NEWSWIRE) — 3D Systems (NYSE:DDD) today announced plans to celebrate, at Formnext 2026, the 40^th anniversary of the founding of 3D Systems and 43 years of the invention of SLA 3D printing by co-founder Chuck Hull. With guest appearances by Chuck Hull and opportunities to see and touch the original 3D-printed part, attendees can understand the origins of additive manufacturing, combined with 3D Systems’ vision of the future of manufacturing.

“The 3D printing industry has grown steadily to more than $16B at the end of 2025 after more than 40 years of existence in large part thanks to Chuck Hull and 3D Systems,” said Scott Dunham, Executive Vice President of Research at Additive Manufacturing Research. “Chuck’s dedication to this industry, and in turn 3D Systems’ ongoing development of many foundational technologies, is commendable. Our projections for additive manufacturing estimate an industry of at least $65B by 2035, which is incredible when put into the context of beginning from one man’s idea for a rapid prototyping technology.”

While Chuck Hull has always been very humble about his own invention of SLA, he has also been admiring of innovations that came after, either via 3D Systems or from other inventors who have been either partners or competitors to 3D Systems, all of whom helped build the industry to where it is now.

“This is a true celebration for 3D Systems, but also the 3D printing industry as a whole,” said Chuck Hull, inventor of 3D printing, CTO and co-founder of 3D Systems. “Turning this small idea into a $16 billion industry has been the result of hard work and a drive to succeed by many in the industry. The drive of entrepreneurship and innovation by everyone is what has made this industry grow and we want to celebrate that.”

The Emergence of Competition in 3D Printing

Following the commercialization of SLA, other key inventors emerged with different approaches to solving additive manufacturing.

Scott Crump invented and patented Fused Deposition Modeling (FDM) 3D printing in 1988, and with his wife, Lisa Crump, co-founded Stratasys. Stratasys provided an alternative to SLA 3D printing and rapid prototyping, helping to develop and expand the industry alongside 3D Systems.

“We are excited to join Chuck Hull in this celebration of the 3D printing industry,” said Scott Crump, co-founder and Board Member of Stratasys. “Watching it grow from a series of bright ideas into a vital additive manufacturing industry has been incredibly fulfilling. None of it would have been possible without the passion and drive of pioneers like Chuck Hull and the many others who have helped make the industry what it is today.”

In the 1980s, Carl R. Deckard, an undergraduate student at The University of Texas at Austin, conceived the idea for Selective Laser Sintering (SLS), a process that uses a laser to fuse powdered material into solid objects. He continued developing the idea through his master’s and doctoral studies under Dr. Joseph Beaman, his professor and mentor. Beaman recognized Carl’s talent and gave him the support, technical guidance, and freedom to explore that helped turn his idea into a working manufacturing process. DTM was acquired by 3D Systems in 2001.

“Carl came up with a wild idea of making parts as he watched Star Trek one night and thought about the special effects of using sand as a backdrop when ‘beaming down’ to the planet. We worked on the idea and brought it to Joe who helped him make it work. It took quite a bit of dedication from both of them to get SLS out of the lab and into the market,” said David K. Leigh, a fellow student and colleague of Deckard’s. “DTM Corporation licensed the technology from UT Austin and developed it for commercial use. Carl died in 2019 at just 58. We lost him too soon, but the work he and Joe did together continues to make a difference today.”

Another influential figure from the industry’s origins is Joe Allison, who joined 3D Systems in 1987 and filed 12 patents for the company across 3 years. He later formed Solid Concepts, which quickly became one of the world’s largest suppliers of 3D printed parts. Allison is now CEO of Gentle Giant Studios, a leading 3D printing and digital art company involved in the movie business.

“Chuck Hull not only invented a technology but he founded an industry that has profoundly changed the way things are manufactured,” said Allison. “3D printing has repeatedly proven itself as the way forward for highly complex parts where the limitations of traditional manufacturing have been a barrier. We will see the industry continue to grow and develop in ways that no one can predict.”

There are yet more inventors who have been and continue to be key influencers in the industry and so acknowledgement also goes to individuals including: Max Lebovsky, CEO, Formlabs; Andy Christensen, founder of Medical Modeling; Yoav Zeif, CEO, Stratasys; Emanuel Sachs who first invented binder jetting 3D printing; and many many more.

From the History to the Future of 3D Printing

Across the last 4 decades, the 3D printing industry has seen periods of growth and decline, optimism and doubt, but through the belief and innovation of many in the industry, it has grown far beyond what many would have expected. Chuck Hull continues to inspire new innovations in the industry.

“3D printing continues to strengthen because of the inventiveness of people in applying it, perfecting the materials and processes,” said Dr. Jeff Graves, President & CEO, 3D Systems. “We have entered an era where 3D printing is now enabling unheard-of performance in space, automotive, dental and medical fields. With 3D printing, the sky is not the limit.”

Attendees at Formnext will be able to hear Chuck Hull present alongside Patrick Dunne, SVP, Advanced Applications, 3D Systems, at 3.45 pm on Tuesday November 17, 2026 on the Technology Stage, Stand #B49 in Hall 12.1.

You can join 3D Systems in celebrating both the last 40 years and the future of 3D printing at Formnext between 5 – 8 pm, Booth D11 in Hall 11, November 18 2026, Frankfurt, Germany

About 3D Systems

For 40 years Chuck Hull’s curiosity and desire to improve the way products were designed and manufactured gave birth to 3D printing, 3D Systems, and the additive manufacturing industry. Since then, that same spark continues to ignite the 3D Systems team as we work side-by-side with our customers to change the way industries innovate. As a full-service solutions partner, we deliver industry-leading 3D printing technologies, materials and software to high-value markets such as medical and dental; aerospace, space and defense; transportation and motorsports; data center infrastructure; and durable goods. Each application-specific solution is powered by the expertise and passion of our employees who endeavor to achieve our shared goal of Transforming Manufacturing for a Better Future. More information on the company is available at www.3dsystems.com.

Forward-Looking Statements

Certain statements made in this release that are not statements of historical or current facts are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 including statements regarding the timing of product launches, regulatory approvals, market opportunities, expected revenue impact, and shareholder value. Forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause the actual results, performance or achievements of the company to be materially different from historical results or from any future results or projections expressed or implied by such forward-looking statements. In many cases, forward-looking statements can be identified by terms such as “believes,” “belief,” “expects,” “may,” “will,” “estimates,” “intends,” “anticipates” or “plans” or the negative of these terms or other comparable terminology. Forward-looking statements are based upon management’s beliefs, assumptions, and current expectations and may include comments as to the company’s beliefs and expectations as to future events and trends affecting its business and are necessarily subject to uncertainties, many of which are outside the control of the company. The factors described under the headings “Forward-Looking Statements” and “Risk Factors” in the company’s periodic filings with the Securities and Exchange Commission, as well as other factors, could cause actual results to differ materially from those reflected or predicted in forward-looking statements. Although management believes that the expectations reflected in the forward-looking statements are reasonable, forward-looking statements are not, and should not, be relied upon as a guarantee of future performance or results, nor will they necessarily prove to be accurate indications of the times at which such performance or results will be achieved. The forward-looking statements included are made only as of the date of the statement. 3D Systems undertakes no obligation to update or review any forward-looking statements made by management or on its behalf, whether as a result of future developments, subsequent events or circumstances or otherwise.

Investor Contact: investor.relations@3dsystems.com

Media Contact: press@3dsystems.com 

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/136d26fe-babb-4e74-86e3-b273d8e0148c

Toronto, Ontario, Nov. 12, 2026 (GLOBE NEWSWIRE) — Capstone Infrastructure Corporation (TSX: CSE.PR.A) (the “Corporation” or “Capstone”) today announced and filed its financial results for the third quarter ended September 30, 2026. The Corporation’s Management’s Discussion and Analysis (“MD&A”) for the third quarter of 2026 and unaudited interim consolidated financial statements are available at www.capstoneinfrastructure.com and on SEDAR+ at www.sedarplus.ca. Capstone’s MD&A details the “Results of Operations” and provides a “Financial Position Review” for the quarter ended September 30, 2026.

Dividend Declarations

Today, the Board of Directors declared a quarterly dividend on the Corporation’s Cumulative Five-Year Rate Reset Preferred Shares, Series A (the “Preferred Shares”) of $0.3618 per Preferred Share to be paid on or about February 1, 2027 to shareholders of record at the close of business on January 15, 2027. The dividend on the Preferred Shares covers the period from October 31, 2026 to January 30, 2027.

The dividends paid by the Corporation on its Preferred Shares are designated “eligible” dividends for the purposes of the Income Tax Act (Canada). An enhanced dividend tax credit applies to eligible dividends paid to Canadian residents.

About Capstone Infrastructure Corporation

Capstone is generating our low-carbon future, driving the energy transition forward through creative thinking, strong partnerships, and a commitment to quality and integrity in how we do business. A developer, owner, and operator of clean and renewable energy projects across Canada, Capstone’s portfolio includes approximately 1.1 GW gross installed capacity across 36 facilities, including wind, solar, hydro, biomass, and natural gas power plants. Please visit www.capstoneinfrastructure.com for more information.

Caution Regarding Forward-Looking Statements

Certain of the statements contained within this document are forward-looking and reflect management’s expectations regarding the future growth, results of operations, performance and business of the Corporation based on information currently available to the Corporation. Forward-looking statements are provided for the purpose of presenting information about management’s current expectations and plans relating to the future and readers are cautioned that such statements may not be appropriate for other purposes. These statements use forward-looking words, such as “anticipate”, “continue”, “could”, “expect”, “may”, “will”, “intend”, “estimate”, “plan”, “believe” or other similar words. These statements are subject to known and unknown risks and uncertainties that may cause actual results or events to differ materially from those expressed or implied by such statements and, accordingly, should not be read as guarantees of future performance or results. The forward-looking statements within this document are based on information currently available and what the Corporation currently believes are reasonable assumptions, including the material assumptions set out in the management’s discussion and analysis of the results of operations and the financial condition of the Corporation (“MD&A”) for the year ended December 31, 2025, as updated in subsequently filed MD&A of the Corporation (such documents are available under the Corporation’s SEDAR+ profile at www.sedarplus.ca).

Although the Corporation believes that it has a reasonable basis for the expectations reflected in these forward-looking statements, actual results may differ from those suggested by the forward-looking statements due to inherent risks and uncertainties. For a comprehensive description of these risk factors, please refer to the “Risk Factors” section of the Corporation’s Annual Information Form dated March 23, 2026, as supplemented by disclosure of risk factors contained in any subsequent annual information form, material change reports (except confidential material change reports), business acquisition reports, interim financial statements, interim management’s discussion and analysis and information circulars filed by the Corporation with the securities commissions or similar authorities in Canada (which are available under the Corporation’s SEDAR+ profile at www.sedarplus.ca).

The assumptions, risks and uncertainties described above are not exhaustive and other events and risk factors could cause actual results to differ materially from the results and events discussed in the forward-looking statements. The forward-looking statements within this document reflect current expectations of the Corporation as at the date of this document and speak only as at the date of this document. Except as may be required by applicable law, the Corporation does not undertake any obligation to publicly update or revise any forward-looking statements.

Attachment

• Capstone Infrastructure Corporation

CONTACT: Megan Hunter
Capstone Infrastructure Corporation
416-649-1325
mhunter@capstoneinfra.com

FDA agrees to provide written guidance by January 4, 2027, to support development of YDB-LMSCEV-001

TAIPEI, Taiwan, Nov. 12, 2026 (GLOBE NEWSWIRE) — YD Bio Limited (“YD Bio” or the “Company”) (Nasdaq: YDES), a biotechnology company advancing DNA methylation-based cancer detection and ophthalmologic innovations, today announced that the U.S. Food and Drug Administration (the “FDA”) has granted its request for an INTERACT (INitial Targeted Engagement for Regulatory Advice on CBER/CDER ProducTs) meeting.

Through this program, the FDA will provide early written regulatory feedback on YDB-LMSCEV-001, the Company’s investigational biologic eye drop for moderate-to-severe dry eye disease. This early-stage product uses extracellular vesicles (“EVs”), naturally occurring particles derived from healthy donor eye stem cells specifically known as allogeneic human limbal mesenchymal stem cells (“LMSCs”).

In a letter dated November 9, 2026, CBER (the FDA’s Center for Biologics Evaluation and Research) acknowledged receipt of the Company’s meeting request and briefing package submitted on October 21, 2026, and agreed to provide feedback via a Written Response Only format, with answers expected by January 4, 2027.

Key Highlights

• Meeting Granted: CBER agreed to YD Bio’s request for an INTERACT meeting via a Written Response Only format.
• Timeline: Written feedback is expected by January 4, 2027.
• Scope of Questions: YD Bio asked the FDA nine specific questions: seven on chemistry, manufacturing, and controls, covering topics such as cell bank qualification, donor eligibility, and product safety and consistency; and two on the design of early animal testing (nonclinical proof-of-concept).
• Goal: The feedback will help finalize manufacturing and preclinical plans before a formal pre-Investigational New Drug (“pre-IND”) meeting, which is the key regulatory step before human trials.

Early Regulatory Engagement for an Emerging Technology

The INTERACT program allows developers of highly innovative medical products to obtain early, informal, and non-binding advice from the FDA before a formal pre-IND meeting. Because EV-based therapies remain an emerging class of biologics, early guidance on the characterization and manufacture of such products is a critical developmental step.

Current Progress & Next Steps

To date, YD Bio has established laboratory-scale donor master cell banks for stem cells and completed initial lab and mouse studies for dry eye disease. The Company also submitted a proposed follow-up proof-of-concept animal study to the FDA for review.

Once the FDA provides a written response, YD Bio plans to incorporate the feedback to optimize its manufacturing processes and finalize the design of its confirming animal studies. This is expected to prepare the Company for the studies required to eventually apply for human clinical trials (“IND enabling studies”).

Taiwan-based YC Biotech Co., Ltd. (“YC Biotech”) consulted on the FDA submission, with YD Bio USA, Inc., a subsidiary of the Company, acting as U.S. agent and formal liaison with the FDA, building on the partnership for regulatory collaboration previously announced on February 25, 2026.

“For a product class as new as extracellular vesicles, we believe the most useful time to hear from the FDA is before the clinical manufacturing process and before specifications are fixed,” said Dr. Ethan Shen, Founder, Chairman and Chief Executive Officer of YD Bio. “We appreciate CBER’s agreement to provide written feedback on YDB-LMSCEV-001, and we intend to use its responses to shape our manufacturing, potency and nonclinical plans as we work toward a pre-IND meeting.”

About YDB-LMSCEV-001

YDB-LMSCEV-001 is an investigational topical ophthalmic biologic candidate composed of extracellular vesicles derived from allogeneic human LMSCs, which is being developed for moderate-to-severe dry eye disease. YDB-LMSCEV-001 is an investigational product and has not been approved for marketing by the FDA or any other regulatory authority. Its safety and efficacy have not been established.

About YD Bio Limited

YD Bio is a U.S.-anchored public biotechnology company building an integrated healthcare platform spanning regulated molecular diagnostics, clinical services, precision medicine, and life science commercialization. The Company operates DNA methylation–based oncology testing programs in the United States under a laboratory-developed test strategy and supports pharmaceutical and biotechnology partners through compliant life science distribution and clinical trial supply chain services. In addition, the Company maintains regulated ocular health commercialization operations and a consumer health distribution platform in Asia. For more information, visit ir.ydesgroup.com and follow the Company on Facebook, X, Threads, Instagram and LinkedIn.

Forward-Looking Statements

This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, which are intended to be covered by the safe harbor provisions created by the U.S. Private Securities Litigation Reform Act of 1995, including statements regarding the expected timing and content of the FDA’s written responses, the anticipated incorporation of any FDA feedback by the Company, the regulatory timelines related to the products discussed on this press release, and any planned development activities for YDB-LMSCEV-001 specifically, including a confirmatory proof-of-concept study, a potential pre-IND meeting, IND-enabling studies, a future IND application, and the continued partnership with YC Biotech. Forward-looking statements are not guarantees of future performance and can be identified by words such as “aim,” “intend,” “seek,” “believe,” “designed to,” “expects,” “anticipates,” “plans,” “may,” “could,” “will” and other similar expressions. Forward-looking statements are based on management’s current belief based on currently available information. Such statements are subject to a number of risks and uncertainties, many of which are beyond the Company’s control, and actual results may differ materially from those expressed or implied due to a variety of factors. For example, the FDA’s responses under the INTERACT program will be informal and non-binding, may not address all of the Company’s questions, and may not be favorable; and there can be no assurance as to their timing or content, or that the FDA will agree with any of the Company’s proposals at a pre-IND meeting or otherwise. YDB-LMSCEV-001 is at the preclinical stage; preclinical results are not necessarily predictive of clinical results, and no clinical safety or efficacy of YDB-LMSCEV-001 has been established. In addition, additional risks and uncertainties that could materially affect results include, but are not limited to, the Company’s ability to incorporate any feedback from regulatory agencies, including the FDA, and comply with their requirements; the Company’s ability to secure necessary supplies and materials, successfully establish a clinical manufacturing process and complete product characterization, potency assay development and IND-enabling studies, and secure any necessary funding; continued cooperation by the Company’s partners, including YC Biotech; competition; changes in the regulatory landscape; geopolitical tensions; macroeconomic conditions, and other risks and uncertainties described in YD Bio’s filings with the U.S. Securities and Exchange Commission (the “SEC”). The Company cautions investors not to place undue reliance on such forward-looking statements, which speak only as of the date hereof. The Company undertakes no obligation to update any forward-looking statements, except as required by law, and encourages investors to review the risk factors in its Annual Report on Form 20-F and other SEC filings.

For investor and media inquiries, please contact:

YD Bio Limited
Investor Relations
Email: investor@ydesgroup.com

WFS Investor Relations Inc.
Email: services@wfsir.com
Phone: +1 628 283 9214

WILMINGTON, N.C., Nov. 12, 2026 (GLOBE NEWSWIRE) — Live Oak Bancshares, Inc. (NYSE: LOB) (“Live Oak” or the “Company”) announced the closing of its previously announced underwritten offering of 4,000,000 depositary shares, each representing a 1/40th interest in a share of its 8.750% Fixed Rate Series B Non-Cumulative Perpetual Preferred Stock (the “Series B Preferred Stock”), with a liquidation preference of $25 per depositary share. As a result of the public offering, Live Oak received proceeds of approximately $96,250,000, net of estimated expenses and underwriting discounts and commissions.

Morgan Stanley & Co. LLC; Keefe, Bruyette & Woods, A Stifel Company; RBC Capital Markets, LLC; and UBS Investment Bank served as joint bookrunning managers for the offering.

A shelf registration statement, including a prospectus, with respect to the offering was previously filed by Live Oak with the Securities and Exchange Commission (the “SEC”) on March 6, 2026. A prospectus supplement relating to the offering has been filed with the SEC. The offering has been made by means of a prospectus supplement and accompanying prospectus. You may obtain these documents for free by visiting EDGAR on the SEC’s website at www.sec.gov. Alternatively, the Company, any underwriter, or any dealer participating in the offering will arrange to send you the prospectus supplement if you request it by calling Morgan Stanley & Co. LLC toll-free at 1-866-718-1649, Keefe, Bruyette & Woods, A Stifel Company at 1-800-966-1559, RBC Capital Markets, LLC at 1-866-375-6829, or UBS Investment Bank at 1-833-481-0269.

About Live Oak Bancshares
Live Oak Bancshares, Inc. (NYSE: LOB) is a financial holding company and parent company of Live Oak Bank. Live Oak Bancshares and its subsidiaries partner with businesses that share a groundbreaking focus on service and technology to redefine banking. To learn more, visit www.liveoakbank.com.

Contacts:
Walter J. Phifer | CFO | Investor Relations | 910.202.6926
Claire Parker | Corporate Communications | Media Relations | 910.597.1592

– STRO-004, TF-targeting ADC, Phase 1 STRIVE-01 study advancing; next clinical update and initiation of expansion cohorts planned first half of 2027 –

– STRO-006, ITGB6-targeting ADC, enters clinic with first patient dosed; initial update expected second half of 2027 –

– STRO-227, Sutro’s PTK7-targeting dual-payload ADC, advancing toward clinical development early 2027 –

– Astellas dosed first patient in second dual-payload iADC program, triggering milestone payment to Sutro –

– Strong balance sheet with $142.2 million in cash, cash equivalents and marketable securities as of September 30, 2026, expected to support operations into first half of 2028 –

SOUTH SAN FRANCISCO, Calif., Nov. 12, 2026 (GLOBE NEWSWIRE) — Sutro Biopharma, Inc. (Sutro or the Company) (NASDAQ: STRO), a clinical-stage oncology company pioneering site-specific and novel-format antibody drug conjugates (ADCs), today reported its financial results for the third quarter ended September 30, 2026 and recent business highlights.

“Over the past year, we have delivered on our commitment to advance our next-generation ADCs with two programs, STRO-004 and STRO-006, entering the clinic in less than a year, and our dual-payload ADC, STRO-227, expected to follow in early 2027,” said Jane Chung, Chief Executive Officer of Sutro. “Early data from STRO-004 give us confidence in its potential to deliver meaningful clinical benefit with our proprietary ADC platform. In addition, our collaboration partner Astellas has initiated patient dosing with a second dual-payload immunostimulatory ADC, further highlighting our strong execution and ability to deliver differentiated, novel dual-payload ADCs. Together these advances reflect our proficiency in translating platform innovation into a growing pipeline of therapies designed to improve patient outcomes and create long-term value.”

Sutro Pipeline

STRO-004: Sutro’s potential best-in-class Tissue Factor (TF)-targeting DAR8 exatecan ADC is being evaluated in the ongoing Phase 1 STRIVE-01 study in patients with advanced solid tumors. As previously reported in August 2026, initial dose escalation in 49 heavily pretreated patients demonstrated encouraging early clinical activity, including confirmed and ongoing unconfirmed partial responses across three tumor types in RECIST-evaluable patients, alongside favorable tolerability and a differentiated pharmacokinetic profile. Dose optimization continues in backfill cohorts of selected indications. The Company plans to provide its next STRIVE-01 study update and initiate expansion cohorts in select indications in the first half of 2027.

STRO-006: Sutro’s next-generation, highly selective integrin β6 (ITGB6)-targeting ADC with a DAR8 exatecan payload, is designed for the treatment of multiple solid tumors. In October 2026, the Company announced the first patient dosed in a Phase 1, open-label, multicenter study evaluating the safety, tolerability, pharmacokinetics and preliminary antitumor activity of STRO-006 as a monotherapy in adults with advanced or metastatic solid tumors. The dose-escalation portion will enroll patients with ITGB6-expressing tumor types, including head and neck cancer, non-small cell lung cancer, esophageal/gastric cancer, colorectal cancer, endometrial cancer, urothelial cancer and breast cancer, with dosing beginning at 1.5 mg/kg. The Company anticipates an initial Phase 1 data update in the second half of 2027.

STRO-227: Sutro’s DAR10 dual-payload ADC targeting PTK7, consists of MMAE (DAR2) and exatecan (DAR8) payloads to enable complementary mechanisms of action within a single molecule. The program is advancing toward initiation of a Phase 1 clinical trial in early 2027 and is a key component of Sutro’s strategy to expand its portfolio of ADCs designed for the potential to widen the therapeutic index and overcome resistance.

Next-Generation ADC Collaborations

Astellas: Two programs are advancing in the clinic under Sutro’s collaboration with Astellas focused on dual-payload immunostimulatory ADCs (iADCs). The first program, which targets TROP2, continues to actively dose patients.

The second program, targeting B7-H3, began dosing patients, resulting in a $10 million milestone payment received by Sutro in October 2026.

Recent Scientific Presentations

At the 17th Annual World ADC Conference held October 12–15, 2026, Sutro presented initial STRO-004 clinical safety and pharmacokinetic findings in a plenary session, along with new preclinical updates on STRO-006, STRO-227 and novel payload mechanisms, demonstrating the potential of the Company’s platform to deliver next-generation ADCs with a wider therapeutic index and the potential to overcome resistance to single-payload ADCs. The presentations are available in the Scientific Publications section of Sutro Biopharma’s website at www.sutrobio.com.

Investor Conferences

Management will participate in the following upcoming healthcare investor conferences. Where available, live webcasts of the presentations can be accessed on the Events & Presentations page in the Investor Relations section of the Company’s website at www.sutrobio.com. Archived replays will remain available for at least 30 days following each event.

UBS Global Biopharma Conference 
Fireside Chat Date/Time: November 17 at 10:40 AM GMT 
Location: London, UK  

Jefferies Global Healthcare Conference  
Fireside Chat Date/Time: November 18 at 1:30 PM GMT 
Location: London, UK 

Piper Sandler 38th Annual Healthcare Conference  
Fireside Chat Date/Time: December 2 at 1:30 PM EST 
Location: New York, NY 

Corporate Updates

In September, Sutro appointed Lucas Donigian as Senior Vice President, Business Development, bringing more than 20 years of biotechnology industry experience, with a background in business development, corporate strategy, and alliance management.

Third Quarter 2026 Financial Highlights

Cash, Cash Equivalents and Marketable Securities

As of September 30, 2026, Sutro had cash, cash equivalents and marketable securities of $142.2 million, as compared to $164.3 million as of June 30, 2026. Based on its current operating plan, the Company expects its cash runway to support operations into the first half of 2028.

Revenue

Revenue was $9.1 million for the quarter ended September 30, 2026, as compared to $9.7 million for the quarter ended September 30, 2025, with the 2026 amount related principally to the Astellas collaboration.

Research & Development (R&D) and General & Administrative (G&A) Expenses

Total R&D and G&A expenses for the quarter ended September 30, 2026 were $31.0 million, as compared to $48.6 million for the quarter ended September 30, 2025.

About Sutro Biopharma

Sutro Biopharma, Inc. is a clinical-stage biotechnology company advancing a next-generation antibody-drug conjugate (ADC) platform designed to deliver single- and dual-payload ADCs that enable meaningful breakthroughs for patients with cancer. By fully optimizing the antibody, linker, and payload, Sutro’s cell-free platform produces ADCs that are engineered to improve drug exposure, reduce side effects, and expand the range of treatable tumor types. With unique capabilities in dual-payload ADCs, Sutro aims to overcome treatment resistance and redefine what’s possible in cancer therapy. The Company’s pipeline of single- and dual-payload ADCs targets large oncology markets with limited treatment options and significant need for improved therapies.

For more information, follow Sutro on social media @Sutrobio or visit www.sutrobio.com.

Forward-Looking Statements

This press release contains forward-looking statements within the meaning of the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995, including, but not limited to, anticipated preclinical and clinical development activities; timing of announcements of IND submissions, trial initiation, clinical results, and other regulatory filings; outcome of discussions with regulatory authorities; potential benefits, efficacy and safety profile of the Company’s product candidates and platform; potential business development and partnering transactions; potential market opportunities for the Company’s product candidates; the positioning of the Company’s product candidates in the competitive landscape; the timing and receipt of anticipated future milestone and royalty payments; and the Company’s expected cash runway. All statements other than statements of historical fact are statements that could be deemed forward-looking statements. Although the Company believes that the expectations reflected in such forward-looking statements are reasonable, the Company cannot guarantee future events, results, actions, levels of activity, performance or achievements, and the timing and results of biotechnology development and potential regulatory approval is inherently uncertain. Forward-looking statements are subject to risks and uncertainties that may cause the Company’s actual activities or results to differ significantly from those expressed in any forward-looking statement, including risks and uncertainties related to the Company’s ability to advance its product candidates, the receipt and timing of potential regulatory designations, approvals and commercialization of product candidates, the market size for the Company’s product candidates to be smaller than anticipated, clinical trial sites, supply chain and manufacturing facilities, the Company’s ability to obtain, maintain and recognize the benefits of certain designations received by product candidates, the timing and results of preclinical and clinical trials, the Company’s ability to fund development activities and achieve development goals, the Company’s ability to protect intellectual property, the Company’s commercial collaborations with third parties, the impact of health pandemics, tariffs, regional geopolitical conflicts, changes in interest rates, inflation, potential uncertainty with respect to the debt ceiling and government shutdowns, and other risks and uncertainties described under the heading “Risk Factors” in documents the Company files from time to time with the Securities and Exchange Commission. These forward-looking statements speak only as of the date of this press release, and the Company undertakes no obligation to revise or update any forward-looking statements to reflect events or circumstances after the date hereof.

Investor Contact
Emily White
Sutro Biopharma
(650) 823-7681
ewhite@sutrobio.com

Media Contact
Amy Bonanno
Lyra Strategic Advisory
abonanno@lyraadvisory.com

Sutro Biopharma, Inc.
Selected Statements of Operations Financial Data
(Unaudited)
(In thousands, except share and per share amounts)

		Three Months Ended
		September 30,
		2026				2025
Revenue		$	9,098			$	9,693
Operating expenses
Research and development			23,499				39,853
General and administrative			7,539				8,741
Restructuring and related costs			16				9,558
Total operating expenses			31,054				58,152
Loss from operations			(21,956	)			(48,459	)
Interest income			1,466				2,009
Non-cash interest expense related to the sale of future royalties			(10,153	)			(9,670	)
Interest and other income (expense), net			(846	)			(737	)
Loss before provision for income taxes			(31,489	)			(56,857	)
Provision for / (benefit) from income taxes			—				—
Net loss		$	(31,489	)		$	(56,857	)
Net loss per share, basic and diluted		$	(1.90	)		$	(6.66	)
Weighted-average shares used in computing basic and diluted loss per share			16,583,806				8,540,708

Sutro Biopharma, Inc.
Selected Balance Sheets Financial Data
(Unaudited)
(In thousands)

		September 30,				December 31,
		2026 (1)				2025 (2)
Assets
Cash, cash equivalents and marketable securities		$	142,177			$	141,428
Accounts receivable			12,815				3,977
Property and equipment, net			7,127				10,648
Operating lease right-of-use assets			7,180				10,903
Other assets			7,349				6,874
Total Assets		$	176,648			$	173,830
Liabilities and Stockholders’ Deficit
Accounts payable, accrued expenses and other liabilities		$	40,122			$	58,482
Deferred revenue			10,054				12,590
Operating lease liability			9,700				15,674
Deferred royalty obligation related to the sale of future royalties			249,308				219,536
Total liabilities			309,184				306,282
Total stockholders’ deficit			(132,536	)			(132,452	)
Total Liabilities and Stockholders’ Deficit		$	176,648			$	173,830

⁽¹⁾The condensed balance sheet as of September 30, 2026 was derived from the unaudited financial statements included in the Company’s Quarterly Report on Form 10-Q for the quarter ended September 30, 2026, filed with the Securities and Exchange Commission on November 12, 2026.

⁽²⁾ The condensed balance sheet as of December 31, 2025 was derived from the audited financial statements included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2025, filed with the Securities and Exchange Commission on March 23, 2026.

• Announced and Filed Positive Preliminary Economic Assessment (“PEA”) for the High-Grade 70,000 Tonnes Per Year Franklin Project
• Completed South West Arkansas Project (“SWA Project”) Customer Offtake Process through Binding Agreements with LG Energy Solution and Trafigura
• Advanced SWA Project Financing Process, the Key Remaining Workstream Prior to a Final Investment Decision (“FID”)
• Expect to Take FID by Q1 2027 Followed Promptly by Construction

VANCOUVER, British Columbia, Nov. 12, 2026 (GLOBE NEWSWIRE) — Standard Lithium Ltd. (“Standard Lithium” or the “Company”) (TSXV: SLI) (NYSE.A: SLI), a leading near-commercial lithium company, today announced its financial and operating results for the three- and nine-month periods ended September 30, 2026.

“We had a busy and productive third quarter as we continue to advance important milestones and complete key workstreams for the Company,” said David Park, Chief Executive Officer and Director of Standard Lithium. “We secured long-term commercial agreements with one of the world’s leading battery producers in LG Energy Solution as well as one of the largest global commodity traders in Trafigura. Our expanding partnerships are a testament to the high quality of the SWA Project and the importance of our role in developing a scalable and competitive domestic lithium supply chain. We also released a Preliminary Economic Assessment for the Franklin Project highlighting the strength of one of the biggest and highest-quality lithium brine resources in North America and our pathway to building a substantial portfolio of lithium projects.”

“With our customer offtake process now complete, we have moved to finalizing and closing the SWA Project financing as quickly as possible before taking FID and moving into construction.”

Highlights Subsequent to the Three-Month Period Ended September 30, 2026

All amounts are in US dollars unless otherwise indicated. All terms not otherwise defined have the meaning given to them under the CIM Definition Standards for mineral resources and mineral reserves.

• Files Positive PEA for Up to 70,000 Tonnes Per Year Battery-Quality Lithium Carbonate Franklin Project
  The PEA for the Franklin Project, the first defined project area of Smackover Lithium, the Company’s partnership with Equinor, in the East Texas region of the Smackover Formation, highlights the globally significant size and high quality of its brine position. It marks a key step towards Smackover Lithium’s goal of reaching over 100,000 tonnes of lithium chemical production per year in Texas through multiple phases and projects. The principal recommendation of the PEA is to advance the Franklin Project to a Preliminary Feasibility Study.
• Appoints Ralph Alexander to the Board of Directors
  On October 13, 2026, the Company announced the appointment of Ralph Alexander as an independent member of the Board of Directors, effective immediately. Mr. Alexander brings more than four decades of leadership across the global energy, chemicals, power and infrastructure sectors. His extensive operating, investment and public company governance experience will add valuable perspective as Standard Lithium advances its portfolio of large-scale projects.

Highlights From Three-Month Period Ended September 30, 2026

• Exceeds Targeted Customer Offtake Volumes for SWA Project
  Amended binding commercial offtake agreement with Trafigura, a market leader in the global commodities industry. The amendment provided the additional offtake volumes to complete the SWA Project’s customer offtake process and move to finalizing the ongoing debt financing process. The initial target was to secure customer offtake agreements for roughly 80% (18,000 tonnes) of the 22,500 tonnes of annual nameplate battery-quality lithium carbonate capacity in its initial phase. Together with the agreement with LG Energy Solution, total commitments have reached up to 20,000 tonnes per year for 10 years.
• Signs Binding Customer Offtake with LG Energy Solution (“LGES”) for the SWA Project
  Signed a second binding commercial offtake agreement with LGES, a leading global manufacturer of lithium-ion batteries. The SWA Project will supply LGES with 8,000 tonnes per year of battery-quality lithium carbonate over a 10-year period following the start of commercial production. Pricing and other key commercial terms are subject to confidentiality but have been structured to support the SWA Project financing.
• Announces Positive PEA for the Franklin Project, its First Lithium Project in East Texas
  The PEA, which contemplates annual production capacity of up to 70,000 tonnes of battery-quality lithium carbonate, is highlighted by attractive economics including an unlevered pre-tax net present value of $5.9 billion, an internal rate of return of 25.7% and a three-year payback period, along with average annual lithium cash operating cost of $4,226/t and a capital intensity of $49,945/t. Additionally, it includes an upgraded and upsized Mineral Resource with some of the highest lithium-in-brine concentrations reported in North America. The PEA also considers a scenario based on a co-located bromine facility of 50,000 tonnes per year alongside the lithium operation. Standard Lithium and Equinor anticipate further evaluating potential commercial opportunities for both bromine and potash given the significant scale and quality of the resources, as well as the designation of potash as a U.S. critical mineral in 2025.
• Demonstrates Successful Use of South West Arkansas Lithium Carbonate in North American LFP Battery Cells
  Lithium carbonate produced from the SWA Project pilot plant was successfully used by Nano One® to manufacture lithium iron phosphate cathode active material and battery cells in North America. The testing provides further validation of SWA Project’s process flowsheet and the suitability of its battery-quality lithium carbonate in downstream applications and advances the Company’s commitment to technological innovation and support for the development of a domestic, fully integrated energy storage supply chain.

• Cash and working capital of $118.1 million and $114.4 million, respectively, as of September 30, 2026.
• The Company has no term or revolving debt obligations as of September 30, 2026.

SWA Project Final Investment Decision

Significant progress has been made year-to-date, with three of the four primary deliverables required prior to taking FID at the SWA Project completed: executing the engineering, procurement, construction and commissioning (EPCC) and the engineering, procurement and construction management (EPCM) construction vendor contracts, receiving National Environmental Policy Act (NEPA) approval from federal regulators, and concluding the customer offtake process.

The EPC and EPCM have been operating under a Limited Notice to Proceed for the last six months, focusing on key activities to de-risk the SWA Project and optimize the construction schedule. This includes detailed engineering, identifying long-lead time items with vendors, completing relevant construction permitting, team building and community engagement. They are expected to transition to a Full Notice to Proceed promptly following a positive FID.

Smackover Lithium continues to advance the project financing workstream as the key remaining milestone for achieving FID. The Company has been working closely with the Export Credit Agencies (“ECAs”), including the Export-Import Bank of the United States (EXIM), Export Development Canada (EDC) and Export Finance Norway (Eksfin), each of which remains highly interested in supporting the SWA Project. While the ECA financing process has taken longer than initially anticipated, the comprehensive due diligence review is substantially complete without any material concerns.

Smackover Lithium is now targeting over $1.2 billion in total senior secured project debt, exceeding its initial expectations of up to $1.1 billion. The Company is actively working to finalize all reserve facility funding requirements, which will inform the final SWA Project sources and uses and enable the completion of binding legal agreements and the credit approval processes by the ECAs as quickly as possible. Based on the current financing timeline, Smackover Lithium now expects to take FID by the end of the first quarter of 2027, with construction beginning shortly thereafter.

Three-Month Period Ended September 30, 2026 Webcast

The Company will hold a webcast to discuss its three-month period ended September 30, 2026 on Monday, November 16^th at 4:30 p.m. ET. Live access as well as a replay will be available via webcast.

Webcast Details
Standard Lithium Q3 2026 Earnings Call and Webcast
November 16, 2026 4:30 p.m. Eastern Time (USA and Canada)

Attendee Webcast Link: https://events.q4inc.com/attendee/170915932

Consolidated Financial Statements

This news release should be read in conjunction with the Company’s Consolidated Financial Statements and MD&A for the three- and nine-month periods ended September 30, 2026, which are available on the Company’s issuer profile on SEDAR+ at www.sedarplus.ca and on EDGAR at www.sec.gov.

Qualified Person

All scientific and technical disclosure in this release was reviewed and approved by Mr. Stephen Ross, P.Geo., British Columbia, Vice President of Resource Development for Standard Lithium and a Qualified Person for purposes of, and as that term is defined in, National Instrument 43-101 – Standards of Disclosure for Mineral Projects. Mr. Ross is not independent of the Company.

About Standard Lithium Ltd.

Standard Lithium is a leading near-commercial lithium development company focused on the sustainable development of a portfolio of large, high-grade lithium-brine properties in the United States. The Company prioritizes projects characterized by high-grade resources, robust infrastructure, skilled labor, and streamlined permitting. Standard Lithium aims to achieve sustainable, commercial-scale lithium production via the application of a scalable and fully integrated direct lithium extraction and purification process. The Company’s flagship projects are in the Smackover Formation, an attractive lithium brine asset, focused in Arkansas and Texas. In partnership with global energy leader Equinor, Standard Lithium is advancing the SWA Project, a greenfield project located in southern Arkansas, and actively advancing a promising lithium brine resource position in East Texas, including the highest known lithium brine grade project in North America, the Franklin Project.

Standard Lithium trades on both the TSX Venture Exchange (“TSXV”) and the NYSE American under the symbol “SLI”. Visit the Company’s website at www.standardlithium.com for more information.

Department of Energy Acknowledgement and Disclaimer

This material is based upon work supported by the U.S. Department of Energy’s Office of Critical Minerals and Energy Innovation under award Number DE-MS0000099. The views expressed herein do not necessarily represent the views of the U.S. Department of Energy or the United States Government.

Investor Inquiries
Daniel Rosen
+1 604 409 8154
investors@standardlithium.com

Media Inquiries
media@standardlithium.com

Neither the TSXV nor its Regulation Services Provider (as that term is defined in policies of the TSXV) accepts responsibility for the adequacy or accuracy of this release.

This news release may contain certain “Forward-Looking Statements” within the meaning of the United States Private Securities Litigation Reform Act of 1995 and applicable Canadian securities laws. When used in this news release, the words “anticipate”, “believe”, “estimate”, “expect”, “contemplate”, “target”, “plan”, “forecast”, “may”, “could”, “will”, “would”, “should”, “schedule”, “predict”, “budget”, “project”, “potential” and other similar words or expressions identify forward-looking statements or information. These forward-looking statements or information may relate to the cost and timing of any development of the SWA Project, construction of, and production at, the SWA Project, expected attributes of the SWA Project, regulatory or government requirements or approvals, continued exploration and advancement of the Franklin Project, the anticipated timing of FID, the anticipated timing of a Preliminary Feasibility Study on the Franklin Project, the size and quality of the Franklin Project brine position, future expansion of leaseholds in East Texas, the timing and ability to complete vendor contracts and SWA Project debt agreements, the timing and success of the commercial bank process, and its ability to provide a portion of the financing package under both ECA-covered and uncovered tranches, Mr. Alexander’s experience adding value to the Company’s board of directors, the Company’s ability to create a scalable and competitive domestic lithium supply chain and other factors or information. Such statements represent the Company’s current views with respect to future events and are necessarily based upon a number of assumptions and estimates that, while considered reasonable by the Company, are inherently subject to significant business, economic, competitive, political and social risks, contingencies and uncertainties. Many factors, both known and unknown, could cause results, performance or achievements to be materially different from the results, performance or achievements that are or may be expressed or implied by such forward-looking statements. The Company does not intend, and does not assume any obligation, to update these forward-looking statements or information to reflect changes in assumptions or changes in circumstances or any other events affecting such statements and information other than as required by applicable laws, rules and regulations.

TOKYO, Nov. 12, 2026 (GLOBE NEWSWIRE) — CTW (Nasdaq: CTW) (“CTW” or “the Company”), a leading game platform company providing global access to web-based games through its flagship platform, G123.jp, today announced a correction to the venue address for its annual general meeting as stated in the Company’s press release, notice of annual general meeting and form of proxy furnished with its Report on Form 6-K on November 9, 2026.

The venue address was incorrectly stated as “Sumitomo Shiba Koen Building, 17th Floor, 2-8-17 Shiba, Minato-ku, Tokyo, 105-0014, Japan.” The correct venue address is: “Sumitomo Shiba Koen Building, 17th Floor, 2-7-17 Shiba, Minato-ku, Tokyo, 105-0014, Japan.”

This correction relates solely to a typographical error in the venue address and does not represent a change in the intended meeting venue. The date and time of the annual general meeting, the matters to be considered and all other meeting arrangements remain unchanged.

Shareholders may access the Company’s public filings free of charge at the Company’s investor relations website http://www.ctw.inc/investors, and on the SEC’s website http://www.sec.gov.

About CTW

CTW is a leading game platform company providing global access to web-based, free-to-play games inspired by popular Japanese anime IP, including So I’m a Spider, So What? Ruler of the Labyrinth, Arifureta: From Commonplace to World’s Strongest – Rebellion Soul, and Queen’s Blade Limit Break. CTW delivers these games through its globally accessible flagship platform, G123.jp, which has accumulated paying users in over 200 countries since its 2018 launch. Founded in Tokyo in 2013, CTW partners with anime and manga IP holders to bring officially licensed titles to players around the world with no downloads or account registration required.

For more information, visit www.ctw.inc or G123.jp.

Forward Looking Statement

This announcement contains forward-looking statements within the meaning of Section 21E of the U.S. Securities Exchange Act of 1934, as amended. These forward-looking statements are made under the “safe harbor” provisions of the U.S. Private Securities Litigation Reform Act of 1995. These statements can be identified by terminology such as “will,” “expects,” “anticipates,” “future,” “intends,” “plans,” “believes,” “estimates,” “potential,” “continue,” “ongoing,” “targets,” “guidance” and similar statements. CTW may also make written or oral forward-looking statements in its periodic reports to the SEC, in its annual report to shareholders, in press releases and other written materials and in oral statements made by its officers, directors or employees to third parties. Any statements that are not historical facts, including statements about CTW’s beliefs and expectations, are forward-looking statements. Forward-looking statements involve inherent risks and uncertainties. A number of factors could cause actual results to differ materially from those contained in any forward-looking statement, including but not limited to the following: CTW’s growth strategies; its future business development, results of operations and financial condition; its ability to distribute successful and engaging games with high “playability” on its platform; its ability to efficiently attract and retain end-users who come to play and make in-game purchases; its ability to achieve positive return on investment on user acquisition efforts; its ability to establish and maintain relationships with game developers; governmental policies and regulations relating to CTW’s industry; and general economic and business conditions globally and in Japan and assumptions underlying or related to any of the foregoing. Further information regarding these and other risks, uncertainties or factors is included in CTW’s filings with the SEC. All information provided in this press release and in the attachments is as of the date of this press release, and CTW undertakes no obligation to update any forward-looking statement, except as required under applicable law.

Contacts

Media Contact:
CTW Press Team
corpcomm@ctw.inc

Investor Relations Contact:
Patrick Federle | Head of Investor Relations
investor@ctw.inc

TORONTO, Nov. 12, 2026 (GLOBE NEWSWIRE) — Martinrea International Inc. (TSX : MRE), a diversified and global automotive supplier engaged in the design, development and manufacturing of highly engineered, value-added Lightweight Structures and Propulsion Systems, today announced the release of its financial results for the third quarter ended September 30, 2026, and declared a quarterly cash dividend of $0.05 per share.

THIRD-QUARTER HIGHLIGHTS

• Total sales of $1,181.9 million, production sales of $1,098.8 million.
• Diluted net earnings per share of $0.38 and Adjusted Net Earnings per Share⁽¹⁾ of $0.52.
• Adjusted EBITDA⁽¹⁾ of $144.9 million, 12.3% of total sales.
• Adjusted Operating Income Margin⁽¹⁾ of 5.6%.
• Free Cash Flow⁽¹⁾ (excluding principal payments of IFRS 16 lease liabilities) of $58.5 million.
• Net Debt-to-Adjusted EBITDA⁽¹⁾ ratio, excluding the impact of IFRS 16, ended the third quarter at 1.56x, down from 1.63x at the end of the second quarter.
• New business awards worth approximately $160 million in annualized sales at mature volumes; new business awards over the last 12 months total approximately $565 million in annualized sales.
• Quarterly cash dividend of $0.05 per share declared.
• 2026 outlook reaffirmed.

OVERVIEW

Pat D’Eramo, Chief Executive Officer, stated: “We are pleased with our performance in the third quarter, with Adjusted Operating Income⁽¹⁾ and Adjusted EBITDA⁽¹⁾, improving year over year, both on an absolute and a percentage of sales basis.   We continue to drive operating improvements across the organization, which is offsetting current industry dynamics, allowing us to generate solid margins. We are managing what’s in our control, and pursuing growth opportunities in a prudent and profitable manner. In automotive, we are seeing opportunities from program extensions and takeover work from financially troubled or underperforming suppliers, as well as from OEMs localizing production to North America. Outside of automotive, we are off to a great start with our TruNorth Kaizen consulting business, having recently expanded the scope of our contract with Raytheon to help accelerate throughput on the Tomahawk cruise missile. We believe that the relationships we forge through TruNorth could eventually lead to opportunities to participate as a tier 1 supplier supporting prime defence contractors in the United States. We are also seeing strong growth in our Industrial business, both with traditional customers and products, and from diversifying into new sectors, including power generation and storage for data centres.”

___________________________________

¹ The Company prepares its financial statements in accordance with IFRS Accounting Standards (“IFRS”). However, the Company considers certain non-IFRS financial measures as useful additional information in measuring the financial performance and condition of the Company. These measures, which the Company believes are widely used by investors, securities analysts and other interested parties in evaluating the Company’s performance, do not have a standardized meaning prescribed by IFRS and therefore may not be comparable to similarly titled measures presented by other publicly traded companies, nor should they be construed as an alternative to financial measures determined in accordance with IFRS. Non-IFRS measures, included anywhere in this press release, include “Adjusted Net Income”, “Adjusted Net Earnings per Share (on a basic and diluted basis)”, “Adjusted Operating Income”, “Adjusted EBITDA”, “Free Cash Flow”, “Free Cash Flow (after IFRS 16 lease payments)” and “Net Debt”. The relevant IFRS financial measure, as applicable, and a reconciliation of certain non-IFRS financial measures to measures determined in accordance with IFRS are contained in the Company’s Management Discussion and Analysis for the three and nine months ended September 30, 2026 and in this press release.

Fred Di Tosto, President, stated: “I am pleased to announce that we have been awarded new business representing approximately $160 million in annualized sales at mature volumes, consisting of approximately $95 million in various structural components in our Lightweight Structures commercial group with Ford, Mercedes-Benz, and BMW; approximately $10 million in our Propulsion Systems commercial group with Stellantis; and approximately $55 million in our Flexible Manufacturing Group with Caterpillar, John Deere, Volvo Truck, General Dynamics, and General Motors. This includes an award for Caterpillar worth $50 million in annualized sales for energy storage units used in data centres, and a smaller contract with General Dynamics to supply components for armoured vehicles.   New business awards during the last twelve months total approximately $565 million in annualized sales, representing our highest level of award activity in several years.”

He continued: “While Adjusted Operating Income in Europe was positive in the third quarter, and expected break even on a full-year basis in 2026 subject to obtaining certain volume-related recoveries from our customers in the fourth quarter, it has become apparent that more structural changes are needed to return the operating segment to historical levels of profitability. We are therefore planning deep restructuring activity for Europe. These actions are expected to include workforce reductions, centralization of certain administrative activities, vertical integration opportunities, and a review of underperforming operations. With these measures, we expect these actions to contribute to improved financial results in Europe beginning in 2027.”

Peter Cirulis, Chief Financial Officer, stated: “Operationally, the third quarter played out largely as expected, with our financial results up year over year, and consistent with our full-year 2026 outlook. Sales (excluding tooling sales of $83.1 million) were $1,098.8 million, Operating Income was $64.2 million, and Adjusted Operating Income⁽¹⁾ was $66.7 million. Adjusted Operating Income Margin⁽¹⁾ of 5.6% was up 10 basis points year over year, as operating improvements and commercial recoveries offset the flow-through impact of lower vehicle production volumes and higher aluminum costs. Net Debt-to-Adjusted EBITDA⁽¹⁾ (excluding IFRS-16 lease liabilities) ended the quarter at 1.56x, down from 1.63x over the prior quarter. We are reaffirming our 2026 outlook, which calls for total sales of $4.5 to $4.9 billion, Adjusted Operating Income Margin⁽¹⁾ of 5.5% to 6.0%, and Free Cash Flow⁽¹⁾ of $125 to $175 million.”

Rob Wildeboer, Executive Chairman, stated: “Our third quarter results demonstrate that operational improvements and cost discipline are offsetting lower industry volumes and cost pressures. At the same time, we are simplifying the portfolio, strengthening the balance sheet, and directing capital toward higher-return opportunities in North America, including in industrial markets and defence, while returning capital to shareholders through dividends and share repurchases. We completed several notable divestitures in recent months, including: (1) an 85% equity stake in our Fluids plant in China, (2) a 100% equity stake in our Aluminum plant in Brazil, and (3) a 95% equity stake in our Aluminum facility in China. We also sold our facility in Shelbyville, Kentucky, which was idled following the end of production of the Ford Escape program at the end of last year. Collectively, these asset dispositions will generate approximately $107 million of consideration net of transaction costs, with approximately $60 million expected to be collected this calendar year and the remainder paid out over the next three years, strengthening our balance sheet. We repurchased approximately 941,000 shares under our normal course issuer bid during the third quarter for $9.3 million. Year to date, we repurchased 4.1% of our outstanding shares for $31.2 million. On behalf of the executive management team, we would like to thank our people for their hard work and commitment, as well as our shareholders and other stakeholders for their ongoing support.”

RESULTS OF OPERATIONS

All amounts in this press release are in Canadian dollars, unless otherwise stated; and all tabular amounts are in thousands of Canadian dollars, except earnings per share and number of shares. 

Additional information about the Company, including the Company’s Management Discussion and Analysis of Operating Results and Financial Position for the three and nine months ended September 30, 2026 (“MD&A”), the Company’s interim condensed consolidated financial statements for the three and nine months ended September 30, 2026 (the “interim financial statements”) and the Company’s Annual Information Form for the year ended December 31, 2025 can be found on the Company’s profile at www.sedarplus.ca.

OVERALL RESULTS

Results of operations may include certain items which have been separately disclosed, where appropriate, in order to provide a clear assessment of the underlying Company results. In addition to IFRS Accounting Standards (“IFRS”) measures, management uses non-IFRS measures in the Company’s disclosures that it believes provide the most appropriate basis on which to evaluate the Company’s results.

The following tables set out certain highlights of the Company’s performance for the three and nine months ended September 30, 2026 and 2025. Refer to the Company’s interim financial statements for the three and nine months ended September 30, 2026 for a detailed account of the Company’s performance for the periods presented in the tables below.

	Three months ended September 30, 2026				Three months ended September 30, 2025				$ Change			% Change
Sales	$	1,181,949			$	1,190,801			(8,852	)		(0.7	%)
Gross Margin		156,763				169,972			(13,209	)		(7.8	%)
Operating Income		64,243				62,485			1,758			2.8	%
Net Income for the period		26,827				35,762			(8,935	)		(25.0	%)
Net Earnings per Share – Basic and Diluted	$	0.38			$	0.49			(0.11	)		(22.4	%)
Non-IFRS Measures*
Adjusted Operating Income	$	66,682			$	64,996			1,686			2.6	%
% of Sales		5.6	%			5.5	%
Adjusted EBITDA		144,921				140,400			4,521			3.2	%
% of Sales		12.3	%			11.8	%
Adjusted Net Income		36,582				37,730			(1,148	)		(3.0	%)
Adjusted Net Earnings per Share – Basic and Diluted	$	0.52			$	0.52			–			0.0	%

	Nine months ended September 30, 2026				Nine months ended September 30, 2025				$ Change			% Change
Sales	$	3,507,927			$	3,634,567			(126,640	)		(3.5	%)
Gross Margin		474,987				506,106			(31,119	)		(6.1	%)
Operating Income		185,832				179,928			5,904			3.3	%
Net Income for the period		97,807				91,327			6,480			7.1	%
Net Earnings per Share – Basic and Diluted	$	1.38			$	1.25			0.13			10.4	%
Non-IFRS Measures*
Adjusted Operating Income	$	199,039			$	213,042			(14,003	)		(6.6	%)
% of Sales		5.7	%			5.9	%
Adjusted EBITDA		429,818				446,707			(16,889	)		(3.8	%)
% of Sales		12.3	%			12.3	%
Adjusted Net Income		112,294				115,005			(2,711	)		(2.4	%)
Adjusted Net Earnings per Share – Basic and Diluted	$	1.59			$	1.58			0.01			0.6	%

*Non-IFRS Measures

The Company prepares its interim financial statements in accordance with IFRS. However, the Company considers certain non-IFRS financial measures as useful additional information in measuring the financial performance and condition of the Company. These measures, which the Company believes are widely used by investors, securities analysts and other interested parties in evaluating the Company’s performance, do not have a standardized meaning prescribed by IFRS and therefore may not be comparable to similarly titled measures presented by other publicly traded companies, nor should they be construed as an alternative to financial measures determined in accordance with IFRS. Non-IFRS measures include “Adjusted Net Income”, “Adjusted Net Earnings per Share (on a basic and diluted basis)”, “Adjusted Operating Income”, “Adjusted EBITDA”, “Free Cash Flow”, “Free Cash Flow (after IFRS 16 lease payments)”, and “Net Debt”.

The following tables provide a reconciliation of IFRS “Net Income” to Non-IFRS “Adjusted Net Income”, “Adjusted Operating Income” and “Adjusted EBITDA”:

	Three months ended September 30, 2026			Three months ended September 30, 2025
Net Income	$	26,827		$	35,762
Adjustments, after tax*		9,755			1,968
Adjusted Net Income	$	36,582		$	37,730

	Nine months ended September 30, 2026			Nine months ended September 30, 2025
Net Income	$	97,807		$	91,327
Adjustments, after tax*		14,487			23,678
Adjusted Net Income	$	112,294		$	115,005

*Adjustments are explained in the “Adjustments to Net Income” section of this Press Release

	Three months ended September 30, 2026				Three months ended September 30, 2025
Net Income	$	26,827			$	35,762
Income tax expense		13,539				9,865
Other finance expense		848				245
Share of loss of equity investments		496				662
Finance expense		13,351				15,951
Adjustments, before tax*		11,621				2,511
Adjusted Operating Income	$	66,682			$	64,996
Depreciation of property, plant and equipment and right-of-use assets		76,250				73,049
Amortization of development costs		2,193				2,179
Loss (gain) on disposal of property, plant and equipment		(204	)			176
Adjusted EBITDA	$	144,921			$	140,400

	Nine months ended September 30, 2026				Nine months ended September 30, 2025
Net Income	$	97,807			$	91,327
Income tax expense		35,935				32,984
Other finance expense		1,153				4,221
Share of loss of equity investments		2,208				1,997
Finance expense		41,445				49,399
Adjustments, before tax*		20,491				33,114
Adjusted Operating Income	$	199,039			$	213,042
Depreciation of property, plant and equipment and right-of-use assets		224,491				227,366
Amortization of development costs		6,550				5,988
Loss (gain) on disposal of property, plant and equipment		(262	)			311
Adjusted EBITDA	$	429,818			$	446,707

*Adjustments are explained in the “Adjustments to Net Income” section of this Press Release

SALES

Three months ended September 30, 2026 to three months ended September 30, 2025 comparison

	Three months ended September 30, 2026				Three months ended September 30, 2025				$ Change			% Change
North America	$	936,385			$	912,455			23,930			2.6	%
Europe		232,091				247,552			(15,461	)		(6.2	%)
Rest of the World		16,871				34,866			(17,995	)		(51.6	%)
Eliminations		(3,398	)			(4,072	)		674			16.6	%
Total Sales	$	1,181,949			$	1,190,801			(8,852	)		(0.7	%)

The Company’s consolidated sales for the third quarter of 2026 decreased by $8.9 million or 0.7% to $1,181.9 million as compared to $1,190.8 million for the third quarter of 2025. The total decrease in sales was driven by year-over-year decreases in the Europe and Rest of the World operating segments, partially offset by a year-over-year increase in North America.

Sales for the third quarter of 2026 in the Company’s North America operating segment increased by $23.9 million or 2.6% to $936.4 million from $912.5 million for the third quarter of 2025. The operations acquired from Lyseon North America Inc. (“Lyseon”), which have been consolidated with the Company’s results since October 20, 2025, contributed $15.8 million of year-over-year sales to the North America operating segment. Excluding the acquired operations, third quarter sales in North America increased by $8.1 million or 0.9%. The increase was attributed to an increase in tooling sales of $65.9 million, which are typically dependent on the timing of tooling construction and final acceptance by the customer; the impact of foreign exchange on the translation of U.S. denominated production sales, which had a positive impact on overall sales for the third quarter of 2026 of $16.4 million; higher year-over-year OEM production volumes on certain platforms, including General Motors’ large pick-up truck and SUV platforms, an aluminum engine block for Ford, a transmission for the ZF Group, the Toyota Tacoma, Nissan Pathfinder and Rogue, and General Motors’ Equinox/Terrain; and the launch and ramp up of new programs, including General Motors’ new electric vehicle platform (Chevrolet Bolt), and Volvo’s new electric vehicle platform (EX90). These positive factors were partially offset by lower year-over-year OEM production volumes on certain light vehicle platforms, including the Jeep Grand Cherokee and Wagoneer, General Motors’ electric vehicle platforms (BEV3/BET), the Lucid Air, the Ford Mustang Mach E, and Mercedes’ electric vehicle platform (EVA2); and programs that ended production during or subsequent to the third quarter of 2025, specifically the Ford Escape, and a program with Mercedes. Overall third quarter industry-wide OEM light vehicle production volumes in North America decreased by approximately 3% year-over-year.

Sales for the third quarter of 2026 in the Company’s Europe operating segment decreased by $15.5 million or 6.2% to $232.1 million from $247.6 million for the third quarter of 2025. The decrease was due to lower year-over-year OEM production volumes on certain platforms, including aluminum engine blocks for Ford and Mercedes, the Lucid Air, Mercedes’ electric vehicle platform (EVA2), and a transmission for the ZF Group; and a decrease in tooling sales of $12.2 million, which are typically dependent on the timing of tooling construction and final acceptance by the customer. These negative factors were partially offset by higher year-over-year OEM production volumes on certain platforms, including Jaguar Land Rover; and the impact of foreign exchange on the translation of Euro denominated production sales, which had a positive impact on overall sales for the third quarter of 2026 of $3.0 million. Overall third quarter industry-wide OEM light vehicle production volumes remained largely unchanged in Europe year-over-year.

Sales for the third quarter of 2026 in the Company’s Rest of the World operating segment decreased by $18.0 million or 51.6% to $16.9 million from $34.9 million in the third quarter of 2025. The decrease was largely driven by lower year-over-year production volumes with BMW, and Jaguar Land Rover; the absence of sales from programs associated with the operations disposed of in China and Brazil; and a decrease in tooling sales of $2.1 million.

Overall tooling sales increased by $51.5 million (including outside segment sales eliminations) to $83.1 million for the third quarter of 2026 from $31.6 million for the third quarter of 2025.

Nine months ended September 30, 2026 to nine months ended September 30, 2025 comparison

	Nine months ended September 30, 2026				Nine months ended September 30, 2025				$ Change			% Change
North America	$	2,729,125			$	2,777,876			(48,751	)		(1.8	%)
Europe		725,885				771,557			(45,672	)		(5.9	%)
Rest of the World		73,877				100,433			(26,556	)		(26.4	%)
Eliminations		(20,960	)			(15,299	)		(5,661	)		(37.0	%)
Total Sales	$	3,507,927			$	3,634,567			(126,640	)		(3.5	%)

The Company’s consolidated sales for the nine months ended September 30, 2026 decreased by $126.6 million or 3.5% to $3,507.9 million as compared to $3,634.6 million for the nine months ended September 30, 2025. The total decrease in sales was driven by year-over-year decreases across all operating segments.

Sales for the nine months ended September 30, 2026 in the Company’s North America operating segment decreased by $48.8 million or 1.8% to $2,729.1 million from $2,777.9 million for the nine months ended September 30, 2025. The operations acquired from Lyseon, which have been consolidated with the Company’s results since October 20, 2025, contributed $45.1 million of year-over-year sales to the North America operating segment. Excluding the acquired operations, sales for the nine months ended September 30, 2026 in North America decreased by $93.8 million or 3.4%. The decrease was due to programs that ended production during or subsequent to the corresponding period of 2025, specifically the Ford Escape, and a program with Mercedes; lower year-over-year OEM production volumes on certain light vehicle platforms, including General Motors’ electric vehicle platforms (BEV3/BET), the Ford Mustang Mach E, Mercedes’ electric vehicle platform (EVA2), and the Lucid Air; and the impact of foreign exchange on the translation of U.S. denominated production sales, which had a negative impact on overall sales for the nine months ended September 30, 2026 of $29.2 million. These negative factors were partially offset by an increase in tooling sales of $50.6 million, which are typically dependent on the timing of tooling construction and final acceptance by the customer; higher year-over-year OEM production volumes on certain platforms, including General Motors’ large pick-up truck and SUV platforms, Nissan Pathfinder and Rogue, a transmission for the ZF Group, the Jeep Grand Cherokee and Wagoneer, General Motors’ Equinox/Terrain, the Toyota Tacoma, and an aluminum engine block for Ford; and the launch and ramp up of new programs, including Volvo’s new electric vehicle platform (EX90), and General Motors’ new electric vehicle platform (Chevrolet Bolt). Overall industry-wide OEM light vehicle production volumes during the nine months ended September 30, 2026 decreased in North America by approximately 2% year-over-year.

Sales for the nine months ended September 30, 2026 in the Company’s Europe operating segment decreased by $45.7 million or 5.9% to $725.9 million from $771.6 million for the nine months ended September 30, 2025. The decrease was attributed to lower year-over-year OEM production volumes on certain platforms, including an aluminum engine block for Mercedes, the Lucid Air, Mercedes’ electric vehicle platform (EVA2), Volkswagen’s new electric vehicle platform (PPE), and a transmission for the ZF Group; and a decrease in tooling sales of $22.6 million, which are typically dependent on the timing of tooling construction and final acceptance by the customer. These negative factors were partially offset by the impact of foreign exchange on the translation of Euro denominated production sales, which had a positive impact on overall sales for the nine months ended September 30, 2026 of $28.4 million; and higher year-over-year OEM production volumes of certain platforms, including Jaguar Land Rover, and an aluminum engine block for Ford. Overall industry-wide OEM light vehicle production volumes during the nine months ended September 30, 2026 increased in Europe by approximately 1% year-over-year.

Sales for the nine months ended September 30, 2026 in the Company’s Rest of the World operating segment decreased by $26.6 million or 26.4% to $73.9 million from $100.4 million for the nine months ended September 30, 2025. The decrease was largely driven by lower year-over-year production volumes with BMW, Mercedes, and Jaguar Land Rover; the absence of sales from programs associated with the operations disposed of in China and Brazil; and a decrease in tooling sales of $8.7 million.

Overall tooling sales increased by $9.8 million (including outside segment sales eliminations) to $160.4 million for the nine months ended September 30, 2026 from $150.5 million for the nine months ended September 30, 2025.

GROSS MARGIN

Three months ended September 30, 2026 to three months ended September 30, 2025 comparison

	Three months ended September 30, 2026				Three months ended September 30, 2025				$ Change			% Change
Gross margin	$	156,763			$	169,972			(13,209	)		(7.8	%)
% of Sales		13.3	%			14.3	%

The gross margin percentage for the third quarter of 2026 of 13.3% decreased as a percentage of sales by 1.0% as compared to the gross margin percentage for the third quarter of 2025 of 14.3%. The decrease in gross margin as a percentage of sales was generally due to overall lower production sales volume and corresponding contribution; partially offset by productivity and efficiency improvements at certain operating facilities and other improvements, and lower year-over-year indirect costs incurred in production.

Nine months ended September 30, 2026 to nine months ended September 30, 2025 comparison

	Nine months ended September 30, 2026				Nine months ended September 30, 2025				$ Change			% Change
Gross margin	$	474,987			$	506,106			(31,119	)		(6.1	%)
% of Sales		13.5	%			13.9	%

The gross margin percentage for the nine months ended September 30, 2026 of 13.5% decreased as a percentage of sales by 0.4% as compared to the gross margin percentage for the nine months ended September 30, 2025 of 13.9%. The decrease in gross margin as a percentage of sales was generally due to overall lower production sales volume and corresponding contribution; partially offset by productivity and efficiency improvements at certain operating facilities and other improvements, and lower year-over-year indirect costs incurred in production.

ADJUSTMENTS TO NET INCOME

Adjusted Net Income excludes certain items as set out in the following tables and described in the notes thereto. Management uses Adjusted Net Income as a measurement of operating performance of the Company and believes that, in conjunction with IFRS measures, it provides useful information about the financial performance and condition of the Company.

TABLE A

Three months ended September 30, 2026 to three months ended September 30, 2025 comparison

	Three months ended September 30, 2026				Three months ended September 30, 2025				$ Change
NET INCOME	$	26,827			$	35,762			$	(8,935	)
Adjustments:
Restructuring costs (1)		2,439				2,511				(72	)
Loss on disposal of foreign operations (2)		9,182				–				9,182
ADJUSTMENTS, BEFORE TAX	$	11,621			$	2,511			$	9,110
Tax impact of adjustments (2)		(1,866	)			(543	)			(1,323	)
ADJUSTMENTS, AFTER TAX	$	9,755			$	1,968			$	7,787
ADJUSTED NET INCOME	$	36,582			$	37,730			$	(1,148	)
Number of Shares Outstanding – Basic (‘000)		69,697				72,788
Adjusted Net Earnings Per Share – Basic	$	0.52			$	0.52
Number of Shares Outstanding – Diluted (‘000)		69,702				72,788
Adjusted Net Earnings Per Share – Diluted	$	0.52			$	0.52

TABLE B

Nine months ended September 30, 2026 to nine months ended September 30, 2025 comparison

	Nine months ended September 30, 2026				Nine months ended September 30, 2025				$ Change
NET INCOME	$	97,807			$	91,327			$	6,480
Adjustments:
Restructuring costs (1)		13,207				33,114				(19,907	)
Loss on disposal of foreign operations (2)		7,284				–				7,284
ADJUSTMENTS, BEFORE TAX	$	20,491			$	33,114			$	(12,623	)
Tax impact of adjustments (2)		(6,004	)			(9,436	)			3,432
ADJUSTMENTS, AFTER TAX	$	14,487			$	23,678			$	(9,191	)
ADJUSTED NET INCOME	$	112,294			$	115,005			$	(2,711	)
Number of Shares Outstanding – Basic and Diluted (‘000)		70,640				72,788
Adjusted Net Earnings Per Share – Basic and Diluted	$	1.59			$	1.58

(1)	Restructuring costs
	Additions to the restructuring provision during the three and nine months ended September 30, 2026 totalled $2.4 million and $13.2 million, respectively, and represent employee-related severance resulting from the rightsizing of certain operations in North America ($1.1 million and $10.2 million), and Europe ($1.3 million and $3.0 million).
	Additions to the restructuring provision during the three and nine months ended September 30, 2025 totalled $2.5 million and $33.1 million, respectively, and represent employee-related severance resulting from the rightsizing of certain operations in North America ($1.9 million and $8.0 million), and Europe ($0.6 million and $25.1 million).
(2)	Disposal of foreign operations
	On June 1, 2026, the Company disposed 85% of its equity interest in one of its plants in China for CNY ¥5.5 million ($1.1 million). Subsequent to this transaction, the Company derecognized the net assets of the disposed entity and recognized a total gain on disposal of $1.6 million, including a $0.2 million loss that represents the difference between the aggregate fair value of the proceeds to be received and the carrying amount of the net assets disposed of, including costs related to the sale; and $1.8 million reclassification of cumulative foreign currency translation gains from accumulated other comprehensive income to profit or loss. This disposal of foreign operation resulted in a tax impact of $1.6 million that was recognized during the nine months ended September 30, 2026.
	On August 24, 2026, the Company sold 100% of its equity interest in its plant in Brazil for proceeds of BRL $55.0 million ($11.8 million). As a result of the transaction, the Company derecognized the net assets of the entity and recognized a total loss on disposal of $8.9 million, including a $10.9 million gain that represents the difference between the aggregate fair value of total consideration and the carrying amount of the net assets disposed of, including costs related to the sale; and $19.8 million reclassification of cumulative foreign currency translation losses from accumulated other comprehensive income to profit or loss. This disposal of foreign operation resulted in a tax impact of $1.3 million that was recognized during the three and nine months ended September 30, 2026.

NET INCOME

Three months ended September 30, 2026 to three months ended September 30, 2025 comparison

	Three months ended September 30, 2026			Three months ended September 30, 2025			$ Change			% Change
Net Income	$	26,827		$	35,762		(8,935	)		(25.0	%)
Adjusted Net Income		36,582			37,730		(1,148	)		(3.0	%)
Net Earnings per Share
Basic and Diluted	$	0.38		$	0.49
Adjusted Net Earnings per Share
Basic and Diluted	$	0.52		$	0.52

Net Income, before adjustments, for the third quarter of 2026 decreased by $8.9 million to $26.8 million or $0.38 per share, on a basic and diluted basis, from Net Income of $35.8 million or $0.49 per share, on a basic and diluted basis, for the third quarter of 2025. Excluding the adjustments explained in Table A under “Adjustments to Net Income”, Adjusted Net Income for the third quarter of 2026 decreased by $1.1 million to $36.6 million or $0.52 per share, on a basic and diluted basis, from $37.7 million or $0.52 per share, on a basic and diluted basis, for the third quarter of 2025.

Adjusted Net Income for the third quarter of 2026, as compared to the third quarter of 2025, was negatively impacted by the following:

• a lower gross margin from lower year-over-year sales volume;
• a higher effective tax rate (29.6% for the third quarter of 2026 compared to 21.6% for the third quarter of 2025) primarily reflecting changes in the geographic mix of earnings among jurisdictions with differing tax rates, the impact of valuation allowances in certain jurisdictions, and certain tax benefits derived in foreign jurisdictions; and
• the absence of margins from programs associated with the operations disposed of in China and Brazil.

These factors were partially offset by the following:

• a year-over-year decrease in SG&A expense, as previously explained; and
• a $2.6 million year-over-year decrease in finance expense as a result of lower borrowing rates on the Company’s revolving bank debt.

Nine months ended September 30, 2026 to nine months ended September 30, 2025 comparison

	Nine months ended September 30, 2026			Nine months ended September 30, 2025			$ Change			% Change
Net Income	$	97,807		$	91,327		6,480			7.1	%
Adjusted Net Income		112,294			115,005		(2,711	)		(2.4	%)
Net Earnings per Share
Basic and Diluted	$	1.38		$	1.25
Adjusted Net Earnings per Share
Basic and Diluted	$	1.59		$	1.58

Net Income, before adjustments, for the nine months ended September 30, 2026 increased by $6.5 million to $97.8 million or $1.38 per share, on a basic and diluted basis, from Net Income of $91.3 million or $1.25 per share, on a basic and diluted basis, for the nine months ended September 30, 2025. Excluding the adjustments explained in Table B under “Adjustments to Net Income”, Adjusted Net Income for the nine months ended September 30, 2026 decreased by $2.7 million to $112.3 million or $1.59 per share on a basic and diluted basis, from $115.0 million or $1.58 per share on a basic and diluted basis, for the nine months ended September 30, 2025.

Adjusted Net Income for the nine months ended September 30, 2026, as compared to the nine months ended September 30, 2025, was negatively impacted by the following:

• a lower gross margin from lower year-over-year sales volume;
• a higher effective tax rate (27.2% for the nine months ended September 30, 2026 compared to 26.9% for the nine months ended September 30, 2025) primarily reflecting changes in the geographic mix of earnings among jurisdictions with differing tax rates, the impact of valuation allowances in certain jurisdictions, and certain tax benefits derived in foreign jurisdictions; and
• the absence of margins from programs associated with the operations disposed of in China and Brazil.

These factors were partially offset by the following:

•  a year-over-year decrease in SG&A expense, as previously explained;
•  an $8.0 million year-over-year decrease in finance expense as a result of lower borrowing rates on the Company’s revolving bank debt; and
•  a net foreign exchange loss of $0.7 million for the nine months ended September 30, 2026 compared to $3.9 million for the nine months ended September 30, 2025.

DIVIDEND

A cash dividend of $0.05 per share has been declared by the Board of Directors payable to shareholders of record on December 31, 2026, on or about January 15, 2027.

ABOUT MARTINREA

Martinrea International Inc. is a leader in the development and production of quality metal parts, assemblies and modules, fluid management systems, and complex aluminum products focused primarily on the automotive sector. Martinrea currently operates in 53 locations in Canada, the United States, Mexico, Germany, Slovakia, Spain, South Africa, and Japan. Martinrea’s vision is making lives better by being the best supplier we can be in the products we make and the services we provide. For more information on Martinrea, please visit www.martinrea.com. Follow Martinrea on X and Facebook.

CONFERENCE CALL DETAILS

A conference call to discuss the financial results will be held on Thursday, November 12, 2026 at 5:30 p.m. Eastern Time. To participate, please dial 416-855-9085 (Toronto area) or 800-990-2777 (toll free Canada and US) and enter participant code 07994#. Please call 10 minutes prior to the start of the conference call.

The conference call will also be webcast live in listen‐only mode and archived for twelve months. The webcast and accompanying presentation can be accessed at: https://www.martinrea.com/investor-relations/events-presentations/.

There will also be a rebroadcast of the call available by dialing 289-819-1325 or toll free 888-660-6264 (Conference ID – 07994#). The rebroadcast will be available until February 10, 2027.

If you have any teleconferencing questions, please call Ganesh Iyer at 416-749-0314.

FORWARD-LOOKING INFORMATION

Special Note Regarding Forward-Looking Statements

This Press Release and the documents incorporated by reference therein contains forward-looking statements within the meaning of applicable Canadian securities laws including those related to the Company’s expectations as to, or its views or beliefs in or on, the impact of, or duration of, or factors affecting, or expected response to or growth of, improvements in, expansion of and/or guidance or outlook (including for 2026 and 2027) as to future results, revenue, sales, margin, gross margin, earnings, and earnings per share, adjusted earnings per share, free cash flow, volumes, adjusted net earnings per share, operating income margins, operating margins, adjusted operating income margins, leverage ratios, net debt to adjusted EBITDA⁽¹⁾, debt repayment, Adjusted EBITDA⁽¹⁾, capex levels, working capital levels, cash tax levels, progress on commercial negotiations, the growth of the Company and pursuit of, and belief in, its strategies, the strength, recovery and growth of the automotive industry and continuing challenges, the use of the NCIB, the impact and uncertainty of tariffs and trade issues in the Company’s business and its industry, the expectations for restructuring in Europe and anticipated improvements in European financial results, the expectations for collection of the proceeds of asset dispositions, the benefit of the TruNorth business as well as other forward-looking statements. The words “continue”, “expect”, “anticipate”, “estimate”, “may”, “will”, “should”, “views”, “intend”, “believe”, “plan” and similar expressions are intended to identify forward-looking statements. Forward-looking statements are based on estimates and assumptions made by the Company in light of its experience and its perception of historical trends, current conditions and expected future developments, as well as other factors that the Company believes are appropriate in the circumstances, such as expected sales, customer production schedules and release, industry production estimates, current foreign exchange rates, timing of product launches, awarded business proceeding substantially in accordance with expectations, operational improvement during the period, current and anticipated tariff and trade policy frameworks, general economic and industry conditions, and current Board approved budgets. Although customer supply arrangements generally do not provide minimum volume commitments and may be terminable under certain circumstances, management’s planning and forecasting assumptions reflect the Company’s historical experience that awarded business generally continues for the life of the applicable vehicle program. These assumptions form an important part of management’s assessment of future production volumes, revenues and operating performance. In preparing forward-looking information, management also considers third-party industry production forecasts, expected vehicle production volumes in key markets, current sourcing levels, awarded business and the Company’s expected operational performance. Certain industry, market and production data may be contained in this press release and if so has been obtained from third party sources, including Global Data Plc. While management believes such information to be reliable, it has not independently verified the accuracy or completeness of such information. Many factors could cause the Company’s actual results, performance or achievements to differ materially from those expressed or implied by the forward-looking statements, including, without limitation, the following factors, some of which are discussed in detail in the Company’s AIF and MD&A for the year ended December 31, 2025 and other public filings which can be found on the Company’s profile at www.sedarplus.ca:

• North American and Global Economic and Political Conditions (including war) and Consumer Confidence
• Automotive Industry Risks
• Trade Restrictions or Disputes
• Changes in Laws and Governmental Regulations
• Dependence Upon Key Customers
• Pandemics and Epidemics, Force Majeure Events, Natural Disasters, Terrorist Activities, Political and Civil Unrest or War, and Other Outbreaks 
• Russia and Ukraine War and Middle East Tensions
• Inflationary Pressures
• Regional Energy Shortages
• Customer Consolidation and Cooperation 
• Emergence of Potentially Disruptive EV OEMs 
• Outsourcing and Insourcing Trends 
• Financial Viability of Suppliers and Key Suppliers and Supply Disruptions (Material Availability or Disruption)
• Semiconductor Chip Shortages and Price Increases
• Competition 
• Customer Pricing Pressures, Contractual Arrangements, Cost and Risk Absorption and Purchase Orders 
• Potential Volatility of Share Prices
• Fluctuations in Operating Results 
• Material and Commodity Prices and Volatility 
• Scrap Steel/Aluminum Price Volatility 
• Quote/Pricing Assumptions 
• Launch Costs, Operational Costs and Issues and Cost Structure 
• Potential Rationalization Costs, Turnaround Costs and Impairment Charges 
• Product Warranty, Repair/Replacement Costs, Recall, Product Liability and Liability Risk 
• Product Development and Technological Change (Including Artificial Intelligence and Electrification) 
• A Shift Away from Technologies in Which the Company is Investing 
• Dependence Upon Key Personnel 
• Limited Financial Resources/Uncertainty of Future Financing/Banking 
• Cybersecurity Threats 
• Acquisitions 
• Joint Ventures 
• Private or Public Equity Investments in Technology Companies 
• Potential Tax Exposures 
• Labour Relations Matters 
• Sustainability (ESG) Regulation, Including Environmental Regulation and Climate Change and Human Rights and Supply Chain Issues
• Litigation and Regulatory Compliance and Investigations 
• Risks of Conducting Business in Foreign Countries, Including China, Brazil, Mexico and Other Growing Markets
• Currency Risk 
• Internal Controls Over Financial Reporting and Disclosure Controls and Procedures 
• Loss of Use of Key Manufacturing Facilities 
• Intellectual Property 
• Availability of Consumer Credit or Cost of Borrowing 
• Evolving Business Risk Profile 
• Competition with Low-Cost Countries 
• The Company’s Ability to Shift its Manufacturing Footprint to Take Advantage of Opportunities in Growing Markets
• Change in the Company’s Mix of Earnings Between Jurisdictions with Lower Tax Rates and Those with Higher Tax Rates 
• Pension Plans and Other Post-Employment Benefits 
• Dividends
• Lease Obligations

These factors should be considered carefully, and readers should not place undue reliance on the Company’s forward-looking statements. The Company has no intention and undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.

The common shares of Martinrea trade on The Toronto Stock Exchange under the symbol “MRE”.

For further information, please contact:

Peter Cirulis
Chief Financial Officer
Martinrea International Inc.
3210 Langstaff Road
Vaughan, Ontario L4K 5B2
Tel:   416-749-0314
Fax: 289-982-3001

Martinrea International Inc.
Interim Condensed Consolidated Balance Sheets
(in thousands of Canadian dollars) (unaudited)

	Note	September 30, 2026		December 31, 2025
ASSETS
Cash and cash equivalents		$	108,451	$	174,144
Trade and other receivables	2		775,277		591,586
Inventories	3		509,220		474,224
Prepaid expenses and deposits			43,005		40,707
Income taxes recoverable			46,036		42,205
Assets held for sale	19		77,865		–
TOTAL CURRENT ASSETS			1,559,854		1,322,866
Property, plant and equipment	4		1,827,350		1,847,262
Right-of-use assets	5		213,657		229,084
Deferred tax assets			251,684		211,405
Intangible assets			35,255		36,650
Investments			70,236		71,975
Pension assets			12,646		18,537
Other long term assets	18		3,873		–
TOTAL NON-CURRENT ASSETS			2,414,701		2,414,913
TOTAL ASSETS			3,974,555		3,737,779
LIABILITIES
Trade and other payables	6	$	1,102,708	$	1,010,928
Provisions	7		8,407		20,110
Income taxes payable			46,736		9,873
Current portion of long-term debt	8		9,001		13,424
Current portion of lease liabilities	9		59,563		59,237
Liabilities associated with assets held for sale	19		11,550		–
TOTAL CURRENT LIABILITIES			1,237,965		1,113,572
Long-term debt	8		869,008		855,385
Lease liabilities	9		169,609		191,919
Pension and other post-retirement benefits			36,207		37,874
Deferred tax liabilities			28,121		26,543
TOTAL NON-CURRENT LIABILITIES			1,102,945		1,111,721
TOTAL LIABILITIES			2,340,910		2,225,293
EQUITY
Capital stock	11		570,180		594,756
Contributed surplus			47,059		46,760
Accumulated other comprehensive income			236,333		168,628
Retained earnings			780,073		702,342
TOTAL EQUITY			1,633,645		1,512,486
TOTAL LIABILITIES AND EQUITY		$	3,974,555	$	3,737,779

Contingencies (note 16)

Subsequent event (note 19)

See accompanying notes to the interim condensed consolidated financial statements.

On behalf of the Board:

“Robert Wildeboer”	Director
“Terry Lyons”	Director

Martinrea International Inc.
Interim Condensed Consolidated Statements of Operations
(in thousands of Canadian dollars, except per share amounts) (unaudited)

	Note	Three months ended September 30, 2026			Three months ended September 30, 2025			Nine months ended September 30, 2026			Nine months ended September 30, 2025
SALES		$	1,181,949		$	1,190,801		$	3,507,927		$	3,634,567
Cost of sales (excluding depreciation of property, plant and equipment and right-of-use assets)			(953,169	)		(951,776	)		(2,820,812	)		(2,912,716	)
Depreciation of property, plant and equipment and right-of-use assets (production)			(72,017	)		(69,053	)		(212,128	)		(215,745	)
Total cost of sales			(1,025,186	)		(1,020,829	)		(3,032,940	)		(3,128,461	)
GROSS MARGIN			156,763			169,972			474,987			506,106
Research and development costs			(10,625	)		(11,221	)		(33,515	)		(33,183	)
Selling, general and administrative			(75,427	)		(89,583	)		(230,332	)		(247,949	)
Depreciation of property, plant and equipment and right-of-use assets (non-production)			(4,233	)		(3,996	)		(12,363	)		(11,621	)
Gain (loss) on disposal of property, plant and equipment			204			(176	)		262			(311	)
Restructuring costs	7		(2,439	)		(2,511	)		(13,207	)		(33,114	)
OPERATING INCOME			64,243			62,485			185,832			179,928
Share of loss of equity investments			(496	)		(662	)		(2,208	)		(1,997	)
Loss on disposal of foreign operations	18		(9,182	)		–			(7,284	)		–
Finance expense	13		(13,351	)		(15,951	)		(41,445	)		(49,399	)
Other finance expense	13		(848	)		(245	)		(1,153	)		(4,221	)
INCOME BEFORE INCOME TAXES			40,366			45,627			133,742			124,311
Income tax expense	10		(13,539	)		(9,865	)		(35,935	)		(32,984	)
NET INCOME FOR THE PERIOD		$	26,827		$	35,762		$	97,807		$	91,327
Basic earnings per share	12	$	0.38		$	0.49		$	1.38		$	1.25
Diluted earnings per share	12	$	0.38		$	0.49		$	1.38		$	1.25

See accompanying notes to the interim condensed consolidated financial statements.

Martinrea International Inc.
Interim Condensed Consolidated Statements of Comprehensive Income
(in thousands of Canadian dollars) (unaudited)

	Note	Three months ended September 30, 2026			Three months ended September 30, 2025		Nine months ended September 30, 2026			Nine months ended September 30, 2025
NET INCOME FOR THE PERIOD		$	26,827		$	35,762	$	97,807		$	91,327
Other comprehensive income (loss), net of tax:
Items that are or may be reclassified to net income
Foreign currency translation differences for foreign operations			(5,242	)		30,323		49,739			(13,170	)
Reclassification of foreign currency translation difference on disposal of foreign operations	18		19,802			–		17,959			–
Items that will not be reclassified to net income
Share of other comprehensive income (loss) of equity investments			(35	)		88		7			(24	)
Remeasurement of defined benefit plans			(3,366	)		29		(2,966	)		935
Other comprehensive income (loss), net of tax			11,159			30,440		64,739			(12,259	)
TOTAL COMPREHENSIVE INCOME FOR THE PERIOD		$	37,986		$	66,202	$	162,546		$	79,068

See accompanying notes to the interim condensed consolidated financial statements.

Martinrea International Inc.
Interim Condensed Consolidated Statements of Changes in Equity
(in thousands of Canadian dollars) (unaudited)

	Capital stock			Contributed surplus		Accumulated other comprehensive income			Retained earnings			Total equity
BALANCE AT DECEMBER 31, 2024	$	601,188		$	46,052	$	210,821		$	608,961		$	1,467,022
Net income for the period		–			–		–			91,327			91,327
Compensation expense related to stock options		–			531		–			–			531
Dividends ($0.15 per share)		–			–		–			(10,918	)		(10,918	)
Other comprehensive income (loss) net of tax
Remeasurement of defined benefit plans		–			–		–			935			935
Foreign currency translation differences		–			–		(13,170	)		–			(13,170	)
Share of other comprehensive loss of equity investments		–			–		(24	)		–			(24	)
BALANCE AT SEPTEMBER 30, 2025		601,188			46,583		197,627			690,305			1,535,703
Net income for the period		–			–		–			15,658			15,658
Compensation expense related to stock options		–			177		–			–			177
Dividends ($0.05 per share)		–			–		–			(3,601	)		(3,601	)
Repurchase of common shares (note 11)		(6,432	)		–		–			(1,736	)		(8,168	)
Other comprehensive income (loss) net of tax
Remeasurement of defined benefit plans		–			–		–			1,716			1,716
Foreign currency translation differences		–			–		(28,987	)		–			(28,987	)
Share of other comprehensive loss of equity investments		–			–		(12	)		–			(12	)
BALANCE AT DECEMBER 31, 2025		594,756			46,760		168,628			702,342			1,512,486
Net income for the period		–			–		–			97,807			97,807
Compensation expense related to stock options		–			299		–			–			299
Dividends ($0.15 per share)		–			–		–			(10,500	)		(10,500	)
Repurchase of common shares (note 11)		(24,576	)		–		–			(6,610	)		(31,186	)
Other comprehensive income (loss) net of tax
Remeasurement of defined benefit plans		–			–		–			(2,966	)		(2,966	)
Foreign currency translation differences		–			–		67,698			–			67,698
Share of other comprehensive income of equity investments		–			–		7			–			7
BALANCE AT SEPTEMBER 30, 2026	$	570,180		$	47,059	$	236,333		$	780,073		$	1,633,645

See accompanying notes to the interim condensed consolidated financial statements.

Martinrea International Inc.
Interim Condensed Consolidated Statements of Cash Flows
(in thousands of Canadian dollars) (unaudited)

	Note	Three months ended September 30, 2026			Three months ended September 30, 2025			Nine months ended September 30, 2026			Nine months ended September 30, 2025
CASH PROVIDED BY (USED IN):
OPERATING ACTIVITIES:
Net income for the period		$	26,827		$	35,762		$	97,807		$	91,327
Adjustments for:
Depreciation of property, plant and equipment and right-of-use assets			76,250			73,049			224,491			227,366
Amortization of development costs			2,193			2,179			6,550			5,988
Unrealized loss (gain) on foreign exchange forward contracts			341			482			275			(192	)
Finance expense	13		13,351			15,951			41,445			49,399
Income tax expense	10		13,539			9,865			35,935			32,984
Loss (gain) on disposal of property, plant and equipment			(204	)		176			(262	)		311
Loss on disposal of foreign operations	18		9,182			–			7,284			–
Deferred and restricted share units expense	11		2,769			9,984			8,832			12,111
Stock options expense	11		99			177			299			531
Share of loss of equity investments			496			662			2,208			1,997
Pension and other post-retirement benefits expense			547			612			1,634			1,827
Contributions made to pension and other post-retirement benefits			(632	)		(788	)		(1,820	)		(1,952	)
			144,758			148,111			424,678			421,697
Changes in non-cash working capital items:
Trade and other receivables			26,027			18,424			(123,598	)		(148,015	)
Inventories			(5,271	)		(36,237	)		(36,381	)		(11,515	)
Prepaid expenses and deposits			(876	)		(8,547	)		(2,868	)		(11,233	)
Trade, other payables and provisions			(22,721	)		11,878			59,887			134,691
			141,917			133,629			321,718			385,625
Interest paid			(15,120	)		(17,540	)		(46,126	)		(54,168	)
Income taxes paid			(518	)		(8,561	)		(32,383	)		(63,014	)
NET CASH PROVIDED BY OPERATING ACTIVITIES		$	126,279		$	107,528		$	243,209		$	268,443
FINANCING ACTIVITIES:
Increase (decrease) in long-term debt (net of deferred financing fees)			(27,288	)		(45,299	)		8,802			(38,671	)
Equipment loan repayments			(2,981	)		(4,421	)		(10,293	)		(12,269	)
Principal payments of lease liabilities			(15,596	)		(14,055	)		(46,811	)		(42,187	)
Dividends paid			(3,499	)		(3,639	)		(10,646	)		(10,918	)
Repurchase of common shares			(9,282	)		–			(30,085	)		–
NET CASH USED IN FINANCING ACTIVITIES		$	(58,646	)	$	(67,414	)	$	(89,033	)	$	(104,045	)
INVESTING ACTIVITIES:
Purchase of property, plant and equipment (excluding capitalized interest)*			(68,549	)		(55,872	)		(178,566	)		(177,476	)
Capitalized development costs			(2,992	)		(754	)		(4,797	)		(7,351	)
Net increase in investments			(196	)		(22	)		(244	)		(1,271	)
Proceeds on disposal of property, plant and equipment			224			189			874			839
Proceeds from disposal of foreign operations (net of transaction costs)	18		2,791			–			2,791			–
NET CASH USED IN INVESTING ACTIVITIES		$	(68,722	)	$	(56,459	)	$	(179,942	)	$	(185,259	)
Effect of foreign exchange rate changes on cash and cash equivalents			(46	)		(698	)		3,754			(4,103	)
DECREASE IN CASH AND CASH EQUIVALENTS			(1,135	)		(17,043	)		(22,012	)		(24,964	)
CASH AND CASH EQUIVALENTS, BEGINNING OF PERIOD	1(d)		109,586			160,030			130,463			167,951
CASH AND CASH EQUIVALENTS, END OF PERIOD		$	108,451		$	142,987		$	108,451		$	142,987

*As at September 30, 2026, $44,957 (December 31, 2025 – $51,215) of purchases of property, plant and equipment remain unpaid and are recorded in trade and other payables.

See accompanying notes to the interim condensed consolidated financial statements.

Detailed launch readiness for relutrigine and ulixacaltamide, with PDUFA target action dates of December 27, 2026 and January 29, 2027

Shared updated long-term efficacy data for both relutrigine and ulixacaltamide

Outlined plans to extend ulixacaltamide into Parkinson’s disease, Restless Legs Syndrome, and Autism Spectrum Disorder, with studies initiating in 2027

Introduced a broadened pipeline with multiple assets in Pain, KCNT1 DEEs and the Solidus™ antisense oligonucleotide (ASO) Platform

BOSTON, Nov. 12, 2026 (GLOBE NEWSWIRE) — Praxis Precision Medicines, Inc. (NASDAQ: PRAX), a fully integrated, leading central nervous system (CNS) precision neuroscience biopharmaceutical company, today hosted its Investor Day in New York. Management presented its commercial strategy and launch plans for relutrigine in SCN2A and SCN8A developmental and epileptic encephalopathies (DEEs) and ulixacaltamide in essential tremor (ET), and provided an update on its expanded development pipeline.

“Praxis is preparing to launch the first therapies designed specifically for SCN2A and SCN8A DEEs and for ET, if approved. Today we showed how our teams are ready to bring both treatments to patients in the coming months. We also provided exciting updates about our portfolio, including expanding ulixacaltamide to new indications, our sodium channel program in pain and additional programs in rare epilepsies. With the launches approaching quickly and the expanded pipeline we introduced today, we are well positioned to become the world’s preeminent CNS company over the next decade,” said Marcio Souza, president and chief executive officer.

Investor Day Highlights
Commercial Strategy and Launch Readiness
Praxis detailed its commercial strategy and launch readiness for relutrigine (SCN2A and SCN8A DEEs) and ulixacaltamide (ET). The FDA has set PDUFA target action dates of December 27, 2026 for relutrigine and January 29, 2027 for ulixacaltamide. Key opinion leaders joined management to discuss the unmet need and treatment landscape in each indication.

• Praxis outlined its commercial investments in data, patient services and field team hiring and training, which lay the foundation for the upcoming ulixacaltamide and relutrigine launches and for future launches.
• Hiring for the field force is on track and building momentum ahead of the upcoming launches:
  • The ulixacaltamide field team of about 300 will be fully hired before year-end to cover about 19,000 target health care professionals (HCPs).
  • The relutrigine field team is fully hired and has profiled 100% of its top 10 accounts per region and 100% of Tier 1 and Tier 2 target HCPs ahead of the PDUFA date.

Ulixacaltamide

• Praxis provided an updated population-based prevalence estimate for ET of about 9 million people in the U.S., including about 2 million who are seeking treatment today and who represent Praxis’ initial commercial focus.
• Provided sensitivity analyses of the Essential3 primary endpoint, including key sensitivity analyses requested by FDA during the New Drug Application (NDA) review, which were consistent with the primary result.
• Shared an early analysis of patients in the Essential3 Long-Term Safety Study who completed recent efficacy assessments after receiving ulixacaltamide for approximately 95 weeks, which showed durable and improving ADL response over time, further supporting ulixacaltamide’s use as a chronic therapy.

Relutrigine

• Praxis shared updated open label extension data from the EMBOLD study in SCN2A- and SCN8A-DEEs, showing continued reduction in seizures through 18 months with 86% reduction in seizures from baseline.
• For the ongoing EMERALD study in broad DEEs, shared the baseline characteristics showing that patients had a median of 58 seizures in the previous 28 days at baseline and were on a median of 3 anti-seizure medications, highlighting the severity of the studied population.

Pipeline Updates
Movement Disorders Expansion

• Praxis plans to develop and initiate studies in 2027 with ulixacaltamide in Parkinson’s disease (about 1 million patient prevalence), restless legs syndrome (5 to 8 million patient prevalence) and autism spectrum disorder (8 million patient prevalence).
• Praxis will advance two new molecular entities that optimize the t-type calcium channel mechanism of action for the treatment of movement disorders, with expected first in human studies in 2027.
• Praxis continues to make progress on its recent collaboration with Remagine Labs to develop an iontophoretic transdermal patch for ulixacaltamide. The patch is designed to improve accessibility for ulixacaltamide and is planned to enter the clinic in 2027.

Pain

• Praxis introduced a two-pronged approach utilizing its expertise in sodium channel modulation with a pan-sodium channel strategy and a NaV1.8 isoform biased strategy for developing therapies for chronic and acute pain indications.
• Praxis is utilizing its proprietary Praxis Analysis of Concordance (PAC) framework in pain to identify an optimized set of pre-clinical models for screening and de-risking development candidates.
• PRAX-215 is a pan-sodium channel molecule currently being evaluated in a Phase 1 SAD/MAD study with a readout expected in 2027 and is being carried forward into chronic and acute pain trials.
• PRAX-110 is an isoform biased molecule and is expected to enter the clinic in 2028.

Other Pipeline Updates

• Praxis introduced PRAX-206 in KCNT1 developmental epilepsies, which has shown strong pre-clinical data and is planned to enter the clinic in early 2027.
• Shared a portfolio of six preclinical ASO programs being advanced within the Solidus™ platform, in addition to elsunersen, which is in pivotal development.

Webcast and Presentation

A replay of the Investor Day webcast and a copy of the presentation are available in the Events and Presentations section of the Praxis investor website.

About Ulixacaltamide
Ulixacaltamide is a differentiated and highly selective small molecule inhibitor of T-type calcium channels designed to block abnormal neuronal burst firing in the Cerebello-Thalamo-Cortical (CTC) circuit correlated with tremor activity. Ulixacaltamide has received Breakthrough Therapy Designation from the FDA and is the most advanced program within Praxis’ Cerebrum™ small molecule platform.

About Relutrigine
Relutrigine is a first-in-class small molecule in development for the treatment of developmental and epileptic encephalopathies (DEEs) as a preferential inhibitor of persistent sodium current, shown to be a key driver of seizure symptoms in severe DEEs. Relutrigine’s mechanism of precision sodium channel (NaV) modulation is consistent with superior selectivity for disease-state NaV channel hyperexcitability. In vivo studies of relutrigine have demonstrated dose-dependent inhibition of seizures up to complete control of seizure activity in SCN2A, SCN8A and other DEE mouse models. Relutrigine has been generally well-tolerated in three Phase 1 studies and has demonstrated biomarker changes indicative of NaV channel modulation. Data from cohort 1 of the Phase 2 EMBOLD study demonstrated a well-tolerated, robust, short- and long-term improvement in motor seizures in a heavily pre-treated population, alongside maintained seizure freedom in some patients with SCN2A- and SCN8A-DEE. Relutrigine has received Orphan Drug Designation (ODD) and Rare Pediatric Disease Designation (RPDD) from the FDA for the treatment of SCN2A-DEE, SCN8A-DEE and Dravet syndrome; as well as Breakthrough Therapy Designation (BTD) from the FDA, and ODD from the European Medicines Agency for the treatment of SCN2A-DEE and SCN8A-DEE. To learn more about the EMERALD study, please visit Emerald | Resilience Studies.

About Vormatrigine
Vormatrigine is a next-generation, functionally selective small molecule targeting the hyperexcitable state of sodium-channels in the brain that is currently being developed as a once daily, oral treatment for adult focal onset seizures and generalized epilepsy. Preclinical data demonstrates vormatrigine is differentiated from standard of care, with the potential to be best-in-class for focal epilepsy. In vitro, vormatrigine has demonstrated superior selectivity for disease-state NaV channel hyperexcitability. In vivo studies of vormatrigine have demonstrated unprecedented potency in the maximal electroshock seizure (MES) model, a highly predictive translational model for efficacy in focal epilepsy. Data from patients in the RADIANT study demonstrated a robust seizure reduction and generally safe and well tolerated profile. To learn more about the POWER2 study, please visit POWER studies.

About Elsunersen
Elsunersen is an antisense oligonucleotide (ASO) designed to selectively decrease SCN2A gene expression, directly targeting the underlying cause of early-seizure-onset SCN2A-DEE to treat seizures and other symptoms in patients with gain-of-function SCN2A mutations. In vitro studies of elsunersen have demonstrated reduction in both SCN2A gene expression and protein levels. In vivo, elsunersen has demonstrated significant, dose-dependent reduction in seizures, improvement in behavioral and locomotor activity and increased survival in SCN2A mouse models, with potential to be the first disease-modifying treatment for SCN2A-DEE. The elsunersen program is ongoing under a collaboration with Ionis Pharmaceuticals, Inc., and RogCon, Inc. Elsunersen holds Breakthrough Therapy, Orphan Drug and Rare Pediatric Disease Designations from the FDA, and Orphan Drug and PRIME designations from the EMA. To learn more about the EMBRAVE3 study, please visit Embrave | Resilience Studies.

About Praxis
Praxis Precision Medicines is a fully integrated, leading central nervous system (CNS) precision neuroscience biopharmaceutical company, translating insights from genetic epilepsies into the development of therapies for CNS disorders characterized by neuronal excitation-inhibition imbalance. Praxis is applying genetic insights to the discovery and development of therapies for rare and more prevalent neurological disorders through our proprietary small molecule platform, Cerebrum™, and antisense oligonucleotide (ASO) platform, Solidus™, using our understanding of shared biological targets and circuits in the brain. Praxis has established a diversified, multimodal CNS portfolio across a range of conditions, with four late-stage product candidates. For more information, please visit www.praxismedicines.com and follow us on Facebook, LinkedIn and X/Twitter.

Forward-Looking Statements
This press release contains forward-looking statements within the meaning of The Private Securities Litigation Reform Act of 1995 and other federal securities laws, including express or implied statements regarding Praxis’ future expectations, plans and prospects, including, without limitation, statements regarding the development of Praxis’ product candidates, the anticipated timing of regulatory submissions, approvals and interactions, the potential market opportunity and commercial potential of Praxis’ product candidates, Praxis’ commercial launch plans and readiness, and the anticipated timing of clinical trials and plans to initiate new clinical programs, as well as other statements containing the words “anticipate,” “believe,” “continue,” “could,” “endeavor,” “estimate,” “expect,” “intend,” “may,” “might,” “plan,” “potential,” “predict,” “project,” “seek,” “should,” “target,” “will” or “would” and similar expressions that constitute forward-looking statements under the Private Securities Litigation Reform Act of 1995.

The express or implied forward-looking statements included in this press release are only predictions and are subject to a number of risks, uncertainties and assumptions, including, without limitation: the timing of and Praxis’ ability to obtain regulatory approval of its product candidates; Praxis’ ability to build commercial capabilities and successfully launch and commercialize its product candidates, if approved; the potential addressable market sizes for its product candidates; uncertainties inherent in clinical trials and preclinical development; the expected timing of clinical trials, data readouts and the results thereof; regulatory approvals to conduct trials; and other risks concerning Praxis’ programs and operations as described in its Annual Report on Form 10-K for the year ended December 31, 2025 and other filings made with the Securities and Exchange Commission. Although Praxis’ forward-looking statements reflect the good faith judgment of its management, these statements are based only on information and factors currently known by Praxis. As a result, you are cautioned not to rely on these forward-looking statements. Any forward-looking statement made in this press release speaks only as of the date on which it is made. Praxis undertakes no obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future developments or otherwise.

CONTACT: Investor Contact: 
Praxis Precision Medicines 
investors@praxismedicines.com 
857-702-9452 
 
Media Contact:
Dan Ferry
LifeSci Advisors
Daniel@lifesciadvisors.com
617-430-7576