Author: Ravi Shankar

Ibogaine regulatory readiness pack completed and U.S. cGMP manufacturing agreement concluded with DEA-registered Benuvia in Texas; investment supports PsyLabs’ intended supply of pharmaceutical-grade ibogaine for the planned U.S. development program

NEW YORK, Oct. 21, 2026 (GLOBE NEWSWIRE) — Psyence Biomedical Ltd. (Nasdaq: PBM) (“Psyence BioMed” or the “Company”) today announced that both milestones attached to its backstop subscription commitment in Psyence Labs Ltd. (“PsyLabs”) have been achieved and that the Company, through its wholly-owned subsidiary Psyence Biomed II Corp., has completed its additional investment in PsyLabs of US$2,599,896. The milestones include the completion of an ibogaine regulatory readiness documentation package and the execution of a U.S. current Good Manufacturing Practice (“cGMP”) manufacturing agreement with Benuvia Operations, LLC (“Benuvia”), representing important progress in advancing the Company’s planned U.S. pharmaceutical-grade ibogaine development program.

As previously announced on September 23, 2026, Psyence BioMed agreed to invest up to US$5 million in PsyLabs, comprising an irrevocable commitment of US$2.4 million (936 PsyLabs ordinary shares at US$2,564 per share) under its pro rata pre-emption entitlement in PsyLabs’ current financing round and a backstop commitment of up to US$2.6 million to subscribe for shares in that financing round not taken up by other PsyLabs shareholders, payable in up to two tranches of up to US$1.3 million each upon the achievement of specified milestones. The backstop tranches were required to be called and completed by December 31, 2026.

Key Development Milestones Achieved

Regulatory Readiness Documentation

PsyLabs has completed its ibogaine regulatory readiness pack, a documentation package intended to support future regulatory interactions relating to pharmaceutical-grade ibogaine hydrochloride (HCl).

The completion of this documentation represents an important preparatory step in supporting the regulatory development activities contemplated under the Company’s U.S. ibogaine program.

U.S. cGMP Manufacturing Agreement

A manufacturing services agreement has been entered into with Benuvia by Texas Ibogaine Research Corporation (“TIRC”), the Company’s wholly-owned Texas subsidiary. Benuvia operates a controlled-substance manufacturing facility in Round Rock, Texas registered with the U.S. Drug Enforcement Administration (“DEA”).

As previously announced on October 5, 2026, the agreement is intended to support the planned U.S. manufacture of pharmaceutical-grade ibogaine active pharmaceutical ingredient (“API”) under cGMP standards, subject to applicable regulatory requirements.

The agreement establishes a U.S. manufacturing relationship intended to support future nonclinical and clinical development activities.

Advancing a Coordinated U.S. Ibogaine Development Strategy

In structuring the planned U.S. manufacturing program, the Company and PsyLabs agreed that the Benuvia agreement would be entered into by TIRC rather than by PsyLabs. TIRC was established to carry out the manufacturing, nonclinical and regulatory development work required before any human clinical trial could be proposed in the United States, and, as a U.S. developer, may be positioned to pursue domestic funding and grant opportunities that may be available for that work. This structure is intended to allow PsyLabs to remain focused on cultivating, extracting and supplying pharmaceutical-grade ibogaine HCl. Under the binding term sheet between TIRC and PsyLabs announced on September 28, 2026, PsyLabs is expected to serve as TIRC’s exclusive ibogaine supplier for the United States, subject to the conclusion of a definitive agreement, which the parties have agreed to conclude on or before November 30, 2026.

Additional Investment in PsyLabs Completed

Following certification by the PsyLabs board of directors that both development milestones had been achieved, PsyLabs called both backstop tranches ahead of the December 31, 2026, deadline.

Psyence Biomed II Corp. subscribed for 1,014 ordinary shares of PsyLabs at US$2,564 per share, reflecting the US$54 million pre-money equity valuation set for the financing round, for aggregate subscription proceeds of US$2,599,896. Immediately prior to the investment, the Company held approximately 41.13% of PsyLabs’ issued and outstanding shares. Following completion of the investment, and after giving effect to the previously announced share exchange which closed October 1, 2026, the Company holds approximately 43.37% of PsyLabs’ issued and outstanding shares. The investment was funded from the Company’s existing cash resources.

Management Commentary

“Achieving both milestones well ahead of the December 31 deadline is a clear signal that the ibogaine program is moving from planning into execution,” said Jody Aufrichtig, Chief Executive Officer of Psyence BioMed and TIRC. “PsyLabs now has the regulatory documentation and additional capital to support the supply of pharmaceutical-grade ibogaine, and TIRC has a U.S. cGMP manufacturing partner in place to support the development work we are planning. Each company is doing what it is best equipped to do, which we believe is the right structure for building long-term value for our shareholders.”

Related-Party Transaction

PsyLabs is a related party of the Company and a significant shareholder of Psyence BioMed. The investment, including the backstop commitment, was reviewed and approved by a special committee of the Company’s independent directors and by its audit committee, in accordance with the Company’s related-party transaction policies and applicable Nasdaq requirements.

ABOUT PSYENCE BIOMED

Psyence Biomedical Ltd. (Nasdaq: PBM) is a Nasdaq-listed company with its wholly-owned subsidiary, Texas Ibogaine Research Corporation, headquartered in Texas. It is one of the few multi-asset, vertically integrated biopharmaceutical companies specializing in neuroplastogen-based therapeutics and the manufacture of pharmaceutical-grade drug candidates. It is the first life sciences biotechnology company focused on developing nature-derived, non-synthetic psilocybin and ibogaine-based neuroplastogen medicine to be listed on Nasdaq. The Company is dedicated to addressing unmet mental health needs and is committed to an evidence-based approach to developing safe, effective and FDA-approved nature-derived neuroplastogen treatments across a range of mental health disorders.

ABOUT PSYLABS

PsyLabs is a neuroplastogen active pharmaceutical ingredient development company, federally licensed in its operating jurisdiction to cultivate, extract and export psilocybin mushrooms and other neuroplastogen compounds, including psilocybin, psilocin, mescaline, ibogaine and dimethyltryptamine, to lawful medical and research markets. PsyLabs operates from an ISO 22000 and GMP-compliant facility, with a focus on natural compound purification, regulatory support and global distribution. www.psylabs.life 

CONTACTS

Psyence Biomedical Ltd. ir@psyencebiomed.com media@psyencebiomed.com 
info@psyencebiomed.com · +1 416-477-1708

Investor contact: Michael Kydd, Investor Relations Advisor — michael@psyencebiomed.com 

FORWARD-LOOKING STATEMENTS

This communication contains “forward-looking statements” within the meaning of applicable securities laws, including the U.S. Private Securities Litigation Reform Act of 1995. These include statements regarding the investment by Psyence BioMed in PsyLabs, including the achievement and certification of the related milestones and the anticipated effects of the investment; the application of the proceeds of that investment; the resulting shareholding of Psyence BioMed in PsyLabs; the completion and effects of the previously announced share exchange; the manufacturing services agreement between TIRC and Benuvia, including the planned U.S. manufacture of pharmaceutical-grade ibogaine active pharmaceutical ingredient and the timing, scale and cost of such manufacture; the capitalization, funding and intended role of TIRC, including its ability to access U.S. funding and grant opportunities; the expected conclusion of a definitive license and supply agreement between TIRC and PsyLabs, including PsyLabs’ expected role as TIRC’s exclusive ibogaine supplier; the Company’s ability to secure pharmaceutical-grade drug substance and the regulatory documentation required to support a United States program; the evaluation, funding, design, timing and conduct of any clinical trial in Texas; the Company’s ability to obtain and maintain required registrations, permits, quotas and licenses; its ability to participate in federal or state ibogaine programs; and its expected role in future research, development and commercialization activities relating to ibogaine. Forward-looking statements may be identified by words such as “will,” “expects,” “intends,” “plans,” “anticipates,” “believes,” “estimates” and similar expressions.

These statements are based on assumptions regarding government policy, continued interest in regulated neuroplastogen research, the availability of lawful development pathways, and the Company’s ability to maintain licenses, permits, supply arrangements and third-party relationships, as well as assumptions that PsyLabs will apply the investment proceeds as intended and maintain its licenses, permits and facility standards; that Benuvia will perform its obligations under the manufacturing services agreement; that required DEA and other regulatory authorizations will be obtained on a timely basis; and that the Company will have access to sufficient financing to fund TIRC’s development activities. These assumptions may prove incorrect. Risks and uncertainties that could cause actual results to differ materially include: that the anticipated benefits of the investment in PsyLabs are not realized, or that PsyLabs does not apply the investment proceeds as intended; that the regulatory readiness documentation completed by PsyLabs does not support, or is not accepted by regulatory authorities in connection with, any future regulatory submission; that required board, shareholder, regulatory or stock exchange approvals are not obtained; that the previously announced share exchange is not completed, or is completed on terms that differ from those announced; that the cash investment and the other arrangements with PsyLabs are transactions between related parties, and that the terms agreed may differ from those that would be agreed between unrelated parties; that the valuation used to price the cash investment is not indicative of realizable value, and that the Company’s interest in PsyLabs, a privately held company, is illiquid; the reduction in the Company’s cash resources resulting from the investment; that a definitive agreement between TIRC and PsyLabs is not concluded by November 30, 2026, or at all, or is concluded on terms that differ from the term sheet; the Company’s dependence on PsyLabs, a related party, as exclusive supplier of ibogaine, and the risk of any interruption or failure in that supply; that DEA import permits, quotas, registrations or other regulatory approvals are delayed, limited or refused; that the Benuvia arrangements are terminated, not performed or do not proceed as intended; reliance on a single manufacturing partner and manufacturing, analytical or supply-chain failures; the capital commitments, regulatory obligations and contractual liabilities assumed by TIRC under the manufacturing services agreement and the Company’s ability to fund them; that U.S. funding or grant opportunities are not available to TIRC or are not obtained; changes in law, regulation or enforcement priorities in the United States, Southern Africa or elsewhere; the continuing status of ibogaine as a controlled substance; clinical, regulatory and approval risk; competition and market adoption risk; financing risk; and the Company’s ability to maintain compliance with Nasdaq continued listing standards. This list is not exhaustive. These risks should be considered together with the risk factors described in the “Risk Factors” section of the Company’s Annual Report on Form 20-F for the fiscal year ended March 31, 2026 and in the Company’s other filings with the U.S. Securities and Exchange Commission. Nothing in this communication should be regarded as a representation by any person that the forward-looking statements set forth herein will be achieved or that any of the contemplated results of such forward-looking statements will be achieved. Readers should not place undue reliance on forward-looking statements, which speak only as of the date made. Except as required by law, the Company undertakes no obligation to update such statements.

The Company makes no medical, treatment or health benefit claims regarding its proposed products. The U.S. Food and Drug Administration, Health Canada and other regulatory authorities have not approved ibogaine or the Company’s other neuroplastogen compounds for therapeutic use, and their safety and efficacy have not been established through authorized clinical research. Rigorous scientific research and clinical trials are required. Any references to ibogaine stock, inventory or doses are the Company’s best estimates only. References to GMP-compliant or cGMP mean production in a facility designed, operated and controlled in accordance with applicable Good Manufacturing Practice standards, and do not themselves constitute a representation of formal certification or approval by any regulatory authority unless expressly stated. Information regarding Benuvia and its facility is based on information provided by Benuvia and has not been independently verified by the Company. References to a planned clinical trial describe an activity under evaluation only; no trial has been commenced, and no regulatory application in respect of it has been filed or accepted. This communication is not an offer to sell or a solicitation of an offer to buy any securities.

Expansion supports growing demand for PyroGenesis’ technologies in one of the world’s fastest-growing industrial regions

MONTREAL, Oct. 21, 2026 (GLOBE NEWSWIRE) — PyroGenesis Inc. (“PyroGenesis” or the “Company”) (TSX: PYR) (OTCQX: PYRGF) (FRA: 8PY1), a leader in ultra-high temperature processes and engineering innovation, and a plasma-based technology provider to heavy industry & defense, announces today the establishment of a wholly-owned subsidiary in Dubai as a base to address the growing opportunities in the Middle East and Asian markets. The incorporation process began more than a year ago and recently received all required regulatory approvals from the UAE Government. The wholly owned subsidiary has been incorporated under the name PyroGenesis Global FZCO (“PyroGenesis Global”).

“This is long overdue given the inroads we have been making in these markets. The initial focus of PyroGenesis Global will be on the market opportunities we have been nurturing over the past six years, with a face-to-face presence. Notwithstanding our success to date, we have reached a point where we need to overcome the significant logistical challenges (time zone and distance) and demonstrate a commitment to the region,” said P. Peter Pascali, President and CEO of PyroGenesis. “The timing could not be better. The region combines significant access to capital with industrial development priorities that align closely with our technologies. Having said that, nothing can replace an on-the-ground presence. We intend to initially staff PyroGenesis Global with key business development personnel and senior decision makers. We are also considering gradually relocating select engineers, project managers, and support staff over in time. The Company may also evaluate localized sourcing and manufacturing capabilities to support regional growth.”

The launch of PyroGenesis Global aligns with significant industrial diversification initiatives underway across the region. These include Saudi Arabia’s Vision 2030 framework, which supports major industrial infrastructure projects such as the Ras Al-Khair Integrated Aluminum Complex.¹ The Ras Al-Khair complex is the largest in the world and already utilizes seven of PyroGenesis’ Drosrite™ aluminum dross processing systems.² The Company sees significant opportunities to further capitalize on these and other initiatives in the Middle East and Asia.

Image: Containers in the Port of Jebel Ali, Dubai, the world’s ninth busiest port and largest man-made harbour.

“The company needed to commit immediately to a temporary office space and it has done so, in the Uptown Tower DMCC on First Al Khail Street favoured by many Western satellite and regional offices, pending a relocation to a more suitable office space reflective of the Company’s growing needs,” said Mr. Pascali. “Our Dubai subsidiary solidifies our commitment to a region that offers tremendous capital flow. This capital supports large client projects and provides the platform for potential investments and partnerships. To underscore this point, we look forward to announcing a new partnership with a local entity in the region over the coming weeks, an entity that we have not done business with before. We believe these markets are well suited to a broad range of our technology offerings.”

About PyroGenesis Inc.

PyroGenesis leverages 35 years of plasma technology leadership to deliver advanced engineering solutions to energy, propulsion, destruction, process heating, emissions, and materials development challenges across heavy industry and defense. Its customers include global leaders in aluminum, aerospace, steel, iron ore, utilities, environmental services, military, and government. From its Montreal headquarters and local manufacturing facilities, PyroGenesis’ engineers, scientists, and technicians drive innovation and commercialization of energy transition and ultra-high temperature technology. PyroGenesis’ operations are ISO 9001:2015 and AS9100D certified, with ISO certification maintained since 1997. PyroGenesis’ shares trade on the TSX (PYR), OTCQX (PYRGF), and Frankfurt (8PY1) stock exchanges.

Cautionary and Forward-Looking Statements

This press release contains “forward-looking information” and “forward-looking statements” (collectively, “forward-looking statements”) within the meaning of applicable securities laws. In some cases, but not necessarily in all cases, forward-looking statements can be identified by the use of forward-looking terminology such as “plans”, “targets”, “expects” or “does not expect”, “is expected”, “an opportunity exists”, “is positioned”, “estimates”, “intends”, “assumes”, “anticipates” or “does not anticipate” or “believes”, or variations of such words and phrases or state that certain actions, events or results “may”, “could”, “would”, “might”, “will” or “will be taken”, “occur” or “be achieved”. In addition, any statements that refer to expectations, projections or other characterizations of future events or circumstances contain forward-looking statements. Forward-looking statements are not historical facts, nor guarantees or assurances of future performance but instead represent management’s current beliefs, expectations, estimates and projections regarding future events and operating performance. Forward-looking statements are necessarily based on a number of opinions, assumptions and estimates that, while considered reasonable by PyroGenesis as of the date of this release, are subject to inherent uncertainties, risks and changes in circumstances that may differ materially from those contemplated by the forward-looking statements. Important factors that could cause actual results to differ, possibly materially, from those indicated by the forward-looking statements include, but are not limited to, the risk factors identified under “Risk Factors” in PyroGenesis’ latest annual information form, and in other periodic filings that it has made and may make in the future with the securities commissions or similar regulatory authorities, all of which are available under PyroGenesis’ profile on SEDAR+ at www.sedarplus.ca. These factors are not intended to represent a complete list of the factors that could affect PyroGenesis. However, such risk factors should be considered carefully. There can be no assurance that such estimates and assumptions will prove to be correct. You should not place undue reliance on forward-looking statements, which speak only as of the date of this release. PyroGenesis undertakes no obligation to publicly update or revise any forward-looking statement, except as required by applicable securities laws. Neither the Toronto Stock Exchange, its Regulation Services Provider (as that term is defined in the policies of the Toronto Stock Exchange) nor the OTCQX Best Market accepts responsibility for the adequacy or accuracy of this press release.

For further information contact ir@pyrogenesis.com or visit http://www.pyrogenesis.com

__________________________
¹ https://vision2030.ai/sectors/mining/aluminium-industry/

² https://ir.pyrogenesis.com/news-releases/news-release-details/pyrogenesis-completes-seven-system-drosritetm-deployment-worlds

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/315a2a7d-df5b-42b6-b6b9-4c32468fce6e

GOLETA, Calif., Oct. 21, 2026 (GLOBE NEWSWIRE) — Aeluma, Inc. (NASDAQ: ALMU), a semiconductor company specializing in high-performance, scalable technologies for mobile, AI, defense and aerospace, robotics, automotive, AR/VR, and quantum, announced today it has appointed Primit Parikh, Ph.D. as a Strategic Advisor. Dr. Parikh will support Aeluma’s management team, bringing more than 25 years of leadership experience from several prominent semiconductor organizations.

Most recently, Dr. Parikh was the VP & GM of the GaN business division at Renesas, following the acquisition of Transphorm Inc., where he was the Co-founder, President, and CEO. Dr. Parikh led Transphorm, a pioneer in GaN Power Semiconductors, growing it from inception through its public company listing and acquisition by Renesas. In addition to Transphorm and Renesas, he also held leadership positions at Nitres and Cree. Dr. Parikh’s expertise spans several areas important to Aeluma including high-performance semiconductors, AI data centers, manufacturing, IP, and strategic partnerships. With more than 50 patents awarded and leadership positions held at multiple successful ventures and business divisions, Dr. Parikh provides a strategic and operational perspective to Aeluma as it positions itself for commercialization growth.

“We are excited to welcome Primit as a Strategic Advisor,” said Jonathan Klamkin, Ph.D., President and CEO. “His broad range of experience in management and operations will be highly beneficial to Aeluma as we gain commercial traction across our target markets including AI, mobile, defense and aerospace, and quantum. Primit’s insights will be especially valuable as we execute our AI datacom strategy.”

Dr. Parikh commented, “I am delighted to work with Jonathan, Aeluma’s management and leadership at this exciting time in the company’s growth. Demand for high-performance semiconductors is very strong, especially for AI datacom, and I believe Aeluma’s disruptive photonics technology can make a significant impact.”

Dr. Parikh will support Dr. Klamkin and senior management on strategy and execution.

About Aeluma

Aeluma (NASDAQ: ALMU) is a transformative semiconductor company specializing in high-performance photonic and electronic technologies that scale. The company’s proprietary platform combines compound semiconductors with scalable manufacturing used for mass market microelectronics to enable volume production and large-scale integration. Applications for Aeluma’s technology include mobile, AI, defense and aerospace, robotics, automotive, AR/VR, and quantum. Headquartered in Goleta, California, Aeluma operates state-of-the-art R&D and manufacturing capabilities for semiconductor wafer production, quick-turn chip fabrication, rapid prototyping, test and validation. Aeluma also partners with production-scale fabrication foundries, packaging, and integration companies. For more information, visit www.aeluma.com. 

Company:
Aeluma, Inc.
(805) 351-2707
info@aeluma.com

Investor Contact:
Financial Profiles, Inc.
Moira Conlon and Donni Case
(310) 622-8224
ir@aeluma.com

Announces Q3-2026 Financial Release Date

MONTREAL, Oct. 21, 2026 (GLOBE NEWSWIRE) — Aya Gold & Silver Inc. (TSX: AYA; NASDAQ: AYA) (“Aya” or the “Company”) is pleased to announce that it has filed a technical report presenting an updated Preliminary Economic Assessment for the Boumadine Polymetallic Project (the “Project” or “Boumadine”), located in the Kingdom of Morocco, with an effective date of September 9, 2026 (the “2026 PEA”). The 2026 PEA was prepared in accordance with National Instrument 43-101 – Standards of Disclosure for Mineral Projects (“NI 43-101”) by independent Qualified Persons from Lycopodium (Americas) Ltd and CCE Mining, among others. The updated Mineral Resource Estimate (“MRE” or “2026 MRE”) contained in the 2026 PEA was prepared by independent Qualified Person Mr. Guy Dishaw, P.Geo from SRK Consulting UK (“SRK”). The 2026 PEA supersedes the previous PEA (the “2025 PEA” or “Prior PEA”). All financial figures in this press release are in U.S. dollars.

Boumadine is Aya’s development-stage polymetallic project. The 2026 PEA outlines a district-scale project with a flexible open-pit and underground mine plan and a conventional flotation plant producing three payable concentrates (zinc, lead and pyrite), with revenues largely driven by precious metals, and a mine life estimated at 14 years.

The results and highlights below were previously reported in Aya’s news release dated September 9, 2026.

2026 PEA – Economic and Operational Highlights

• The Project’s economic profile is significantly improved reflecting higher commodity price assumptions, stronger metal payability and an extended mine life from 11 to 14 years.
  • After-tax (base case): $3.5B net present value (5%) (“NPV_5%”), more than doubled from the Prior PEA, with a 93% internal rate of return (“IRR”), and 0.7-year payback period. Base Case assumes prices of $3,500/oz Au, $50/oz Ag, $1.37/lb Zn, and $0.90/lb Pb.
  • After-tax (spot prices): $5.5B NPV_5%, 128% IRR and 0.5-year payback period. Assumed Spot Prices as of September 3, 2026, refer to table 1.
  • Increased metal payability: 82% and 85% gold and silver payability, respectively, representing increases of 12 and 8 percentage points from the Prior PEA, reflecting updated market conditions.
  • Strong capital efficiency¹: $463M of initial capital expenditure – broadly in line with the 2025 PEA, with NPV_5%: Capex ratio increasing to 7.6x, up from 3.3x in the Prior PEA.
• Strengthened operating profile, reflecting approximately 16% higher silver production over life of mine (“LOM”) compared to Prior PEA, and a larger MRE supporting the updated mine plan.
  • Compelling average annual production profile: 348 thousand ounces (“koz”) gold-equivalent² (“AuEq”) (Years 1-5), and 271 koz AuEq over the LOM.
  • Attractive LOM production scale: 3.9 Moz AuEq² (+7% vs. Prior PEA), comprising 2.3 Moz Au, 81.2 Moz Ag, 422 thousand tonnes (“kt”) Zn and 195 kt Pb.
  • Updated mine plan: 41.2 million tonnes (“Mt”) total mineralized material mined over the LOM (+33% vs. Prior PEA) at average grades of 4.11 g/t AuEq (Years 1-5) and 3.10 g/t AuEq (LOM).
  • Extended mine life: 14-year mine life, up from 11 years in the Prior PEA.
  • Industry-leading cash costs³: $998/oz AuEq (Years 1-5) and $1,169/oz AuEq over the LOM. AISC³ of $1,105/oz AuEq (Years 1-5) and $1,300/oz AuEq over the LOM.
  • Permitted: existing mining license in advance of Feasibility Study completion.
• Updated Mineral Resource Estimate as of February 28, 2026, with enhanced confidence
  • 2026 MRE^9,10 growth vs prior MRE^4,9 (see the “Mineral Resource Estimate – Supporting Information” section of the Company’s September 9, 2026 press release for a complete discussion):
    • Indicated: 8.6 Mt at 4.02 g/t AuEq^5,6,7 containing 1.1 Moz AuEq, up 34%
    • Inferred: 45.4 Mt at 2.92 g/t AuEq^5,6,7, containing 4.3 Moz AuEq, up 1%

Table 1: Sensitivity Analysis to Commodity Prices of Gold and Silver

Parameter	Units		Break-even8		-25%		Base case		Spot price		Upside
Gold Price	$/oz		1,704		2,625		3,500		4,472		5,250
Silver Price	$/oz		24.34		37.50		50.00		66.85		75.00
Zinc Price	$/lb		0.90		1.03		1.37		1.77		1.77
Lead Price	$/lb		0.60		0.68		0.90		0.85		0.90
NPV5% After-Tax	$M		–		1,808		3,537		5,525		6,738
IRR After-Tax	%		–		57%		93%		128%		146%
LOM Revenue	$M		5,441		8,169		10,995		14,237		16,246
LOM EBITDA3	$M		910		3,482		6,145		9,200		11,094
FCF-Unlevered After-Tax3	$M		89		2,467		4,694		7,253		8,826
Payback Period After-Tax	Years		–		1.3		0.7		0.5		0.4
Capital Efficiency Ratio	–		–		3.9		7.6		11.9		14.6

1.	Capital efficiency ratio is the ratio of Net Present Values, discounted at 5%, to the initial capital expenditure.
2.	AuEq production is based on the following formula: AuEq (oz) = Au (oz) + Ag (oz)* Ag price ($/oz)/Au price ($/oz) + Pb (t)* (Pb price ($/lb) / Au price ($/oz))* 2204.62 + Zn (t)* (Zn price ($/lb) / Au price ($/oz))* 2,204.62
3.	Non-IFRS Measures. Cash costs, AISC (all-in sustaining costs), EBITDA and FCF are non-IFRS financial measures and have no standardized meaning under IFRS Accounting Standards (“IFRS”) and may not be comparable to similar measures used by other issuers. Refer to “Non-IFRS and Other Financial Measures” for more information.
4.	The prior mineral resource estimate for the Boumadine Project was effective as of February 24, 2025, as disclosed in the 2025 PEA titled “Preliminary Economic Assessment for the Boumadine Polymetalic Project, Kingdom of Morocco” with an effective date November 4, 2025, and filed on SEDAR+ on December 18, 2025.
5.	MRE: Commodity prices of US$2,800/oz Au, US$30/oz Ag, US$4.60/lb Cu, US$1.00/lb Pb and US$1.20/lb Zn were used to establish reasonable prospects for eventual economic extraction.
6.	MRE: Gold equivalent (AuEq) grades are based solely on metal prices and metallurgical recoveries and do not incorporate the full range of factors included in the NSR calculation, including treatment charges, payabilities, penalties, royalties and other smelter charges. Consequently, equivalent grades were not used for optimization or application of reporting cut-offs and are provided for reference only.
7.	MRE: AuEq = Au (g/t) + (Ag (g/t) × Ag price/gram × Ag recovery) / (Au price/gram × Au recovery) + Zn (%) × Zn price/lb × Zn recovery / (Au price/gram × Au recovery) × 685.7147973 + Pb (%) × Pb price/lb × Pb recovery / (Au price/gram × Au recovery) × 685.7147973 + Cu (%) × Cu price/lb × Cu recovery / (Au price/gram × Au recovery) × 685.7147973.
8.	Gold and silver prices at which NPV5% – After-Tax is equal to $0M.
9.	Mineral Resources are not Mineral Reserves and do not have demonstrated economic viability. The estimate of mineral resources may be materially affected by environmental, permitting, legal, title, taxation, socio-political, marketing, or other relevant issues. There is no certainty that mineral resources will be converted to mineral reserves.
10.	Mr. Guy Dishaw, P.Geo., is the Qualified Person responsible for the 2026 MRE in accordance with the Canadian Institute of Mining, Metallurgy and Petroleum (“CIM”) Definition Standards for Mineral Resources and Mineral Reserves (2014) and CIM Estimation of Mineral Resources and Mineral Reserves Best Practice Guidelines (2019). Mr. Dishaw is unaware of any known environmental, permitting, legal, title, taxation, socio-economic, marketing, political or other relevant factors that could materially affect the 2026 MRE.

Cautionary statement: Readers are cautioned that the 2026 PEA is preliminary in nature, it includes inferred mineral resources that are considered too speculative geologically to have economic considerations applied to them that would enable them to be categorized as mineral reserves, and there is no certainty that the 2026 PEA will be realized.

Qualified Persons

The scientific and technical information contained in this press release has been reviewed for accuracy and compliance with NI 43-101, and approved by Preetham Nayak P.Eng, Senior Study Manager for Lycopodium (Americas) Ltd, Paul Gauthier, P.Eng, Lead Mining Engineer for CCE Mining, Guy Dishaw, BSc, P.Geo from SRK, Raphael Beaudoin, P.Eng, Executive Vice-President, Operations of the Company (non-independent), and by David Lalonde, B. Sc, P.Geo, Executive Vice-President Exploration of the Company (non-independent), each a Qualified Person as defined in NI 43-101.

The independent Qualified Persons for the 2026 PEA, as defined by NI 43-101, are:

• Preetham Nayak, P.Eng, Senior Study Manager for Lycopodium (Americas) Ltd
• Ruan Venter, P.Eng, General Manager of Process for Lycopodium (Americas) Ltd
• Zuned Shaikh, P.Eng, Lead Mechanical Engineer for Lycopodium (Americas) Ltd
• Paul Gauthier, P.Eng, Lead Mining Engineer for CCE Mining
• Alex Pheiffer, PrSciNat, ESIA Lead from SLR Consulting France SAS
• George Papageorgiou, PrEng, PhD, MSc, BSc, Eng (Civil), Wits, from Epoch Resources (Pty) Ltd
• Guy Dishaw, BSc, P.Geo, from SRK
• James Williams, BSc, MSc, CGeol, FGS from SRK
• Cortney Palleske, M.A.Sc, P.Eng, Principal Geomechanics Consultant from RockEng

Technical Reports

The complete NI 43-101 Technical Report entitled “Updated Preliminary Economic Assessment for the Boumadine Polymetalic Project, Kingdom of Morocco” is available on Aya’s website, on SEDAR+ (www.sedarplus.ca) and on EDGAR (www.sec.com).

The 2026 PEA is preliminary in nature and includes inferred mineral resources that are considered too speculative geologically to have the economic considerations applied to them that would enable them to be categorized as mineral reserves, and, as such, there is no certainty that the 2026 PEA results will be realized.

Cautionary Note to Investors Regarding the Use of Mineral Resources and Mineral Reserves

The 2026 PEA is based on the updated mineral resource estimate for the Project, effective as of February 28, 2026, disclosed in a technical report titled “Updated Preliminary Economic Assessment for the Boumadine Polymetalic Project, Kingdom of Morocco” with an effective date September 9, 2026, and filed on SEDAR+ and EDGAR on October 20, 2026.

The 2025 PEA was based on the updated mineral resource estimate for the Project, effective as of February 24, 2025, disclosed in a technical report titled “Preliminary Economic Assessment for the Boumadine Polymetalic Project, Kingdom of Morocco” with an effective date November 4, 2025, and filed on SEDAR+ on December 18, 2025.

The key assumptions, parameters and methods used to estimate the mineral resource estimate for the Project and the identification of known legal, political, environmental or other risks that could materially affect the potential development of the mineral resources are described in such technical reports.

Mineral resources are not mineral reserves and do not have demonstrated economic viability. The estimate of mineral resources may be materially affected by environmental, permitting, legal, title, taxation, socio-political, marketing, or other relevant issues. There is no certainty that mineral resources will be converted to mineral reserves.

Cautionary Note to the United States Investors Concerning Estimates of Mineral Reserves and Resources

This press release has been prepared in accordance with the requirements of the securities laws in effect in Canada, which differ materially from the requirements of United States securities laws applicable to U.S. companies. Information concerning Aya’s mineral properties has been prepared in accordance with the requirements of Canadian securities laws, which differ in material respects from SEC requirements applicable to domestic United States issuers. Accordingly, the disclosure in this press release regarding Aya’s mineral properties is not comparable to the disclosure of United States issuers subject to the SEC’s mining disclosure requirements.

Q3-2026 Conference Call Details

Aya will release its third quarter 2026 financial results on Thursday, November 12, 2026,  before market opens. Management will host a conference call on the same day at 10 a.m. ET to discuss the results and provide a corporate update.

Participants may join the conference call via webcast or by dialing-in as follows: https://edge.media-server.com/mmc/p/9dcwfxw6

Analyst instructions for obtaining conference call dial-in numbers:

1. Click on the following call link and complete the online registration form https://register-conf.media-server.com/register/BI9679c1ebb97f49a0b09a9f894f87525d
2. Upon registering you will receive the dial-in info and a unique PIN to join the call as well as an email confirmation with the details.
3. Select a method for joining the call: a) Dial-In: A dial in number and unique PIN are displayed to connect directly from your phone; or b) Call Me: Enter your phone number and click “Call Me” for an immediate callback from the system. The call will come from a US number.

About Aya Gold & Silver Inc.

Aya Gold & Silver is a Canadian precious metals mining company anchored in Morocco and active across the full mining value chain. The Company has established an exploration track record through a systematic, technology-led, data-driven approach and is focused on expanding its resource base and land package along the Anti-Atlas fault — one of Africa’s most geologically rich, underexplored and mining-friendly regions.

Aya operates Zgounder, a rare, silver-only mine, producing silver doré from its new processing facility. Aya’s growth pipeline includes the Boumadine polymetallic project, where feasibility study work is underway, and which hosts a sizable mineralized footprint, and potential for further discovery.

Led by a proven team of mining professionals, Aya is guided by a vision of responsible mining and is committed to delivering sustainable value for shareholders, employees and host communities.

For additional information, please visit Aya’s website at www.ayagoldsilver.com.

Or contact

Benoit La Salle, FCPA, MBA	Alex Ball
President & CEO	Executive Vice-President, Capital Markets
benoit.lasalle@ayagoldsilver.com	alex.ball@ayagoldsilver.com

Forward-Looking Statement 

This press release contains “forward-looking statements” or “forward looking information” within the meaning of applicable securities laws and other statements that are not historical facts. Forward-looking statements are included to provide information about management’s current expectations, estimates and projections regarding Aya’s future growth and business prospects (including the timing and development of deposits and the success of exploration activities) and other opportunities as of the date of this press release.

All statements, other than statements of historical fact included in this press release, regarding the Company’s strategy, future operations, technical assessments, prospects, plans and objectives of management are forward-looking statements that involve risks and uncertainties. Wherever possible, words such as “aim”, “anticipate”, “assume”, “believe”, “estimate”, “expect”,  “goal”, “guidance”, “intend”, “objective”, “plan”, “potential”, “strategy”, “target”, and similar expressions or statements that certain actions, events or results “may”, “could”, “would”, “might”, “will”, or are “likely” to be taken, occur or be achieved, have been used to identify such forward-looking information. Forward-looking statements in this press release include, but are not limited to, statements with respect to: the 2026 PEA, notably those under “2026 PEA – Economic and Operational Highlights”, and the results of the 2026 PEA discussed in this press release, including, without limitation, project economics, financial and operational parameters such as expected throughput, production, processing methods, cash costs, all-in sustaining costs, other costs, capital expenditures, free cash flow, NPV, IRR, payback period, LOM, upside potential, and mine plan; the timing of the Boumadine feasibility study; the future price of gold and silver; the estimation of mineral resources and the realization of mineral resource estimates; and the release date of the third quarter 2026 financial results.

Forward-looking information is based upon certain assumptions and other important factors that, if untrue, could cause the actual results, performance or achievements of the Company to be materially different from future results, performance or achievements expressed or implied by such information or statements. There can be no assurance that such information or statements will prove to be accurate. Key assumptions upon which the Company’s forward-looking information is based include without limitation, assumptions regarding development and exploration activities; the Company’s ability to execute its business plans and objectives; the timing, extent, duration and economic viability of such operations, including any mineral resources or reserves identified thereby; the accuracy and reliability of estimates, projections, forecasts, studies and assessments; the timing for completion of the Boumadine feasibility study; the Company’s ability to meet or achieve estimates, projections and forecasts; the availability and cost of inputs; the price and market for outputs; metal prices assumptions; foreign exchange rates; taxation levels; the timely receipt of necessary approvals or permits; the ability to meet current and future obligations; the ability to obtain timely financing on reasonable terms when required; the current and future social, economic and political conditions; the availability of qualified contractors, consultants, suppliers, equipment, materials and labour on commercially reasonable terms; the availability of sufficient water and power supply; the cooperation of government authorities, municipalities, infrastructure providers, port operators, logistics providers, railway operators, and other stakeholders; the continued availability and suitability of transportation, port and other infrastructure required for the development of the Boumadine Project; the Company’s ability to conduct its operations in a safe, responsible and sustainable manner while delivering long-term value to shareholders, employees and host communities; and other assumptions and factors generally associated with the mining industry.

Readers are cautioned that the foregoing list is not exhaustive of all factors and assumptions which may have been used. Forward-looking statements are also subject to risks and uncertainties facing the Company’s business, any of which could have a material adverse effect on the Company’s business, financial condition, results of operations and growth prospects. Some of the risks the Company faces and the uncertainties that could cause actual results to differ materially from those expressed in the forward-looking statements include, among others: Aya’s ability to execute on its plans relating to the Zgounder Project and Boumadine Project, including the timing thereto; risks and hazards associated with the business of mineral exploration, development, and mining, including environmental hazards, potential unintended releases of contaminants, industrial accidents, unusual or unexpected geological or structural formations, pressures, cave-ins, and flooding; risks related to Aya’s operations in Morocco; the speculative nature of mineral exploration and development; diminishing quantities or grades of mineral reserves as properties are mined; the inability to determine, with certainty, the production of metals and cost estimates, or the prices to be received before mineral reserves or mineral resources are actually mined; inadequate or unreliable infrastructure (such as roads, bridges, power sources and water supplies); fluctuations in forward markets for silver and other commodities (such as natural gas, fuel, oil and electricity); availability of gas, fuel, and oil; restrictions on mining in the jurisdictions in which Aya operates; change in laws and regulations governing our operations, exploration, and development activities, including international laws and legal norms, such as those relating to Indigenous peoples and human rights; the Company’s ability to mitigate the risks pertaining to fund repatriation; expectations with respect to any future pandemics on our operations, and assumptions related thereto; Aya’s ability to attract and retain qualified employees and contractors; Aya’s ability to obtain and renew necessary permits and licenses; inherent risks associated with tailings facilities and heap leach operations, including failure or leakages; Aya’s growth strategy; Aya’s ability to obtain and maintain insurance; occupational health and safety risks; adverse publicity risks; third party risks; disruptions to Aya’s business operations; Aya’s reliance on technology and information systems; litigation risks; interest and exchange rates risks; tax risks; unforeseen expenses; public health crises; climate change; weather disruptions; general economic conditions; commodity prices; gold and silver demand; volatility of share price; public company obligations; competition risk; policies and legislation; force majeure; the effectiveness of our internal control over financial reporting; changes in technology; the potential for asset impairment (or reversal); the inherent risks involved in exploration and development of mineral properties; risks associated with the use of artificial intelligence (AI); and other risks described in the Company’s documents filed with Canadian and U.S. securities regulatory authorities.

In addition, readers are directed to carefully review the detailed risk discussion in the Company’s Annual Information Form and Management’s Discussion & Analysis for the year ended December 31, 2025, filed on SEDAR+ and on EDGAR, which discussions are incorporated by reference in this press release, for a fuller understanding of the risks and uncertainties that affect the Company’s business and operations.

Although the Company believes its expectations are based upon reasonable assumptions and has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking statements, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. There can be no assurance that forward-looking information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such information. As such, these risks are not exhaustive; however, they should be considered carefully. If any of these risks or uncertainties materialize, actual results may vary materially from those anticipated in the forward-looking statements found herein. Due to the risks, uncertainties, and assumptions inherent in forward-looking statements, readers should not place undue reliance on forward-looking statements.

Forward-looking statements contained herein are presented for the purpose of assisting investors in understanding the Company’s business plans, financial performance and condition and may not be appropriate for other purposes.

The forward-looking statements contained herein are made only as of the date hereof. The Company disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except to the extent required by applicable law. The Company qualifies all of its forward-looking statements by these cautionary statements.

The Company may make decisions to advance the development of its mineral projects prior to the completion of a feasibility study establishing mineral reserves that demonstrate economic and technical viability. The decision to proceed with development in the absence of such a feasibility study involves materially greater technical and economic risks, including increased uncertainty as to mineral recovery, capital and operating costs, production rates, mine design and overall economic viability. There can be no assurance that any project advanced on this basis will ultimately be technically or economically viable or achieve the anticipated results.

Non-IFRS and Other Financial Measures

This press release includes certain performance measures commonly used in the mining industry that are not defined under IFRS. These measures do not have any standardized meaning under IFRS and may not be comparable to similar measures used by other companies. They are provided to assist readers in evaluating the Company’s performance and should not be considered in isolation or as a substitute for IFRS measures.

The non-IFRS financial measures and non-IFRS financial ratios used in this press release and common to the mining industry are defined below:

All-in Sustaining Costs and All-in Sustaining Costs Per Ounce-of-Gold-Equivalent Produced

AISC is a non-IFRS financial measure. AISC reported in the 2026 PEA is calculated as Cash Costs (as described below) plus sustaining capital expenditures, including closure costs, divided by the quantity of ounces equivalent produced, but excludes corporate general and administrative costs, income taxes, and financing costs. AISC presented on a per-ounce-of-gold-equivalent-produced basis is a non-IFRS financial ratio and is based on the metal prices assumed in the 2026 PEA. These measures capture the important components of the Project’s anticipated production and related costs and are used to indicate anticipated cost performance of the Project’s operations.

Cash Costs, Cash Costs Per Tonne Milled and Cash Costs Per Ounce-of-Gold-Equivalent Produced

Cash costs is a non-IFRS financial measure which includes mine-site operating costs such as mining, processing, direct site G&A, and tailings, environmental and water management costs, as well as product shipping, royalties and mining taxes. Cash costs exclude sustaining capital, corporate G&A, exploration, reclamation, and financing costs. Cash costs presented on a per-tonne-milled basis, or on a per-ounce-of-gold-equivalent-produced basis, are non-IFRS financial ratios, calculated as cash costs divided by tonnes milled, or by anticipated production expressed in ounces of gold equivalent, respectively. These measures capture the important components of the Project’s anticipated production and related costs and are used to indicate anticipated cost performance of the Project’s operations.

EBITDA

EBITDA is a non-IFRS financial measure which is calculated as net income before interest, taxes, depreciation, and amortization, and is an alternate measure of profitability to net income. This measure is used by the Company to show anticipated operating performance by eliminating the impact of non-operational or non-cash items.

Free Cash Flow

FCF is a non-IFRS financial measure defined as revenue, less on-site and off-site operating costs (including royalties and mining taxes), less initial and sustaining capital expenditures, less income taxes. This measure is used by the Company to measure the anticipated cash flow available to the Company.

Capital Efficiency Ratio

Capital efficiency ratio is a non-IFRS financial ratio calculated as NPV5% After-Tax divided by initial capital expenditures. This measure is used by the Company to indicate the anticipated return generated by the Project relative to the upfront capital required to build it.

Reconciliation

As the Project is not currently in production, the Company does not have historical operating results for the Project against which to compare these non-IFRS measures, and cannot perform a reconciliation with historical measures.

Rounding

Individual calculations in tables and totals throughout this press release may not sum due to rounding of original numbers.

— Motorhome RV Continues to Gain Share through Innovation and Operational Execution⁽¹⁾ —

— Recent Manufacturing Footprint Actions Expected to Drive Long-Term Returns —

— Barletta Continues to Expand Share of the U.S. Aluminum Pontoon Market⁽¹⁾ —

— Strong Cash Flows in the Quarter and an Improvement in Net Leverage to 2.2x —

— Company Issues Fiscal 2027 Financial Guidance —

EDEN PRAIRIE, Minn., Oct. 21, 2026 (GLOBE NEWSWIRE) — Winnebago Industries, Inc. (NYSE: WGO), a leading manufacturer of outdoor recreation products, today reported financial results for the Company’s fourth quarter and full year Fiscal 2026.

Fourth Quarter Fiscal 2026 Financial Summary

• Net revenues of $645.1 million compared to $777.3 million in the fourth quarter of Fiscal 2025
• Gross profit of $80.7 million, representing 12.5% gross margin, compared to $99.2 million, representing 12.8% gross margin in the fourth quarter of Fiscal 2025
• Net income of $9.7 million, or $0.34 per diluted share; adjusted earnings per diluted share of $0.49 compared to $0.71 in the fourth quarter of Fiscal 2025
• Adjusted EBITDA of $32.6 million, representing 5.1% adjusted EBITDA margin
• Net cash flow from operations of $142.5 million
• Net leverage ratio improved to 2.2x at quarter end

Full Year Fiscal 2026 Financial Summary

• Net revenues of $2,703.9 million compared to $2,798.2 million in Fiscal 2025
• Gross profit of $350.2 million, representing 13.0% gross margin, compared to $365.1 million, representing 13.0% gross margin in Fiscal 2025
• Net income of $34.5 million, or $1.21 per diluted share; adjusted earnings per diluted share of $1.79 compared to $1.67 in Fiscal 2025
• Adjusted EBITDA of $125.0 million, representing 4.6% adjusted EBITDA margin
• Net cash flow from operations of $168.7 million

CEO Commentary
“Fiscal 2026 highlighted the resilience of our portfolio and the disciplined execution of our teams in a persistently challenging retail environment,” said President and Chief Executive Officer Michael Happe. “By maintaining focus on the factors within our control, including product innovation, operational improvements and deliberate production and inventory management, we continued to strengthen our brands and position the portfolio for long-term growth.

“Even as market pressure across our segments persisted, we began to see encouraging early signs across several strategic initiatives: real traction in the Winnebago Motorhome transformation, stabilizing share trends and improving market share at Grand Design Towables, growing market penetration for Grand Design Motorized, and impressive share growth at Winnebago Towables,” Happe said. “We took actions to rationalize capacity, drive operational efficiency, and better align our manufacturing footprint with market demand. These initiatives remain at different stages of development, and we expect their financial contribution to build gradually, with greater value accruing in future years. Together with the strong continued growth of Barletta’s market presence in pontoons and our growing portable power offerings, this progress reinforces our confidence in the long-term earnings potential of our portfolio.

“At multiple retail, trade, and dealer meeting events in September, we demonstrated the breadth of our portfolio with new offerings across brands, product categories and price points. Dealer feedback was encouraging and reinforced that the investments we’ve made around both innovation and affordability are well aligned with evolving consumer preferences, positioning us to capitalize on opportunities within our control while continuing to elevate the ownership experience.”

Fourth Quarter Fiscal 2026 Results

Net revenues were $645.1 million, a decrease of 17.0% compared to $777.3 million in the fourth quarter of Fiscal 2025, primarily due to lower unit volume and product mix, partially offset by selective price adjustments.

Gross profit was $80.7 million, a decrease of 18.6% compared to $99.2 million in the fourth quarter of Fiscal 2025. Gross profit margin decreased 30 basis points in the quarter to 12.5%, primarily due to volume deleverage, partially offset by operational efficiencies from Motorhome segment transformation initiatives.

Operating expenses were $63.1 million, a decrease of 20.1% compared to $79.1 million in the fourth quarter of Fiscal 2025, primarily due to cost reduction initiatives.

Operating income was $17.6 million, a decrease of 12.3% compared to $20.1 million in the fourth quarter of Fiscal 2025.

Net income was $9.7 million, compared to $13.7 million in the fourth quarter of Fiscal 2025. Reported earnings per diluted share was $0.34, compared to a reported earnings per diluted share of $0.49 in the fourth quarter of Fiscal 2025. Adjusted earnings per diluted share was $0.49, a decrease of 31.0% compared to adjusted earnings per diluted share of $0.71 in the fourth quarter of Fiscal 2025.

Consolidated Adjusted EBITDA was $32.6 million, a decrease of 14.7%, compared to $38.2 million in the fourth quarter of Fiscal 2025.

Full Year Fiscal 2026 Results

Net revenues were $2.7 billion, a decrease of 3.4% compared to $2.8 billion in Fiscal 2025, primarily due to lower unit volume, partially offset by selective price adjustments and product mix.

Gross profit was $350.2 million, a decrease of 4.1% compared to $365.1 million in Fiscal 2025. Gross profit margin remained consistent year-over-year at 13.0% as volume deleverage was largely offset by selective price adjustments.

Operating expenses were $284.0 million, compared to $307.9 million in Fiscal 2025. Operating expenses decreased primarily due to cost reduction initiatives, partially offset by costs to support the growth of the Grand Design Motorhome business.

Operating income was $66.2 million, an increase of 15.7% compared to $57.2 million in Fiscal 2025.

Net income was $34.5 million, compared to $25.7 million in Fiscal 2025. Reported earnings per diluted share was $1.21, an increase of 33.0% compared to reported earnings per diluted share of $0.91 in Fiscal 2025. Adjusted earnings per diluted share was $1.79, an increase of 7.2% compared to adjusted earnings per diluted share of $1.67 in Fiscal 2025.

Consolidated Adjusted EBITDA was $125.0 million, an increase of 2.5%, compared to $121.9 million in Fiscal 2025.

Fourth Quarter and Fiscal 2026 Segments Summary

Towable RV

	Three Months Ended
($, in millions)	August 29, 2026				August 30, 2025				Change(1)
Net revenues	$	220.3			$	306.3			(28.1)%
Operating income	$	9.3			$	21.4			(56.5)%
Operating income margin		4.2	%			7.0	%		(280) bps
(1)  Amounts are calculated based on unrounded numbers and therefore may not recalculate using the rounded numbers provided.

• Net revenues decreased primarily due to lower unit volume and a shift in product mix toward lower price-point models, partially offset by selective price adjustments.
• Operating income margin decreased primarily due to volume deleverage and higher discounts and allowances, partially offset by cost containment initiatives and selective price adjustments.

	Year Ended
($, in millions)	August 29, 2026				August 30, 2025				Change(1)
Net revenues	$	1,050.8			$	1,220.2			(13.9)%
Operating income	$	47.5			$	72.7			(34.7)%
Operating income margin		4.5	%			6.0	%		(150) bps
(1) Amounts are calculated based on unrounded numbers and therefore may not recalculate using the rounded numbers provided.

• Net revenues decreased primarily due to lower unit volume and a shift in product mix toward lower price-point models, partially offset by selective price adjustments.
• Operating income margin decreased primarily due to volume deleverage, higher discounts and allowances, and product mix, partially offset by selective price adjustments and cost containment initiatives.

Motorhome RV

	Three Months Ended
($, in millions)	August 29, 2026				August 30, 2025				Change(1)
Net revenues	$	323.6			$	361.2			(10.4)%
Operating income	$	7.9			$	(0.3	)		NM
Operating income margin		2.4	%		(0.1)%				250 bps
(1)  Amounts are calculated based on unrounded numbers and therefore may not recalculate using the rounded numbers provided.
NM: Not meaningful.

• Net revenues decreased primarily due to lower unit volume and a shift in product mix toward lower price-point models, partially offset by lower discounts and allowances.
• Operating income margin increased primarily due to operational efficiencies from transformation initiatives, lower discounts and allowances, and cost containment initiatives, partially offset by volume deleverage.

	Year Ended
($, in millions)	August 29, 2026				August 30, 2025				Change(1)
Net revenues	$	1,257.5			$	1,159.7			8.4	%
Operating income	$	33.2			$	(7.3	)		NM
Operating income margin		2.6	%		(0.6)%				320 bps
(1) Amounts are calculated based on unrounded numbers and therefore may not recalculate using the rounded numbers provided.
NM:Not meaningful.

• Net revenues increased primarily due to higher unit volume, selective price adjustments, and lower discounts and allowances.
• Operating income margin increased primarily due to lower discounts and allowances, and volume leverage.

Marine

	Three Months Ended
($, in millions)	August 29, 2026				August 30, 2025				Change(1)
Net revenues	$	92.3			$	94.9			(2.7)%
Operating income	$	6.6			$	6.7			(1.5)%
Operating income margin		7.1	%			7.1	%		—  bps
(1) Amounts are calculated based on unrounded numbers and therefore may not recalculate using the rounded numbers provided.
NM:Not meaningful.

• Net revenues decreased primarily due to a shift in product mix toward lower price-point models, partially offset by selective price adjustments.
• Operating income margin was consistent with prior year primarily due to selective price adjustments, offset by product mix.

	Year Ended
($, in millions)	August 29, 2026				August 30, 2025				Change(1)
Net revenues	$	356.4			$	367.8			(3.1)%
Operating income	$	20.9			$	27.7			(24.5)%
Operating income margin		5.9	%			7.5	%		(160) bps
(1) Amounts are calculated based on unrounded numbers and therefore may not recalculate using the rounded numbers provided.
NM:Not meaningful.

• Net revenues decreased primarily due to a shift in product mix toward lower price-point models and lower unit volume, partially offset by selective price adjustments.
• Operating income margin decreased primarily due to volume deleverage and higher warranty expense, partially offset by selective price adjustments.

Balance Sheet and Cash Flow
At the end of the fourth quarter of Fiscal 2026, cash and cash equivalents totaled $181.4 million compared to $57.1 million at the end of the Fiscal 2026 third quarter and $174.0 million at the end of Fiscal 2025. Total outstanding debt was $443.3 million, which included $450.0 million of debt, net of issuance costs of $6.7 million. Working capital improved to $419.1 million, reflecting disciplined balance sheet management and stronger operating efficiency. Cash flow provided by operations was $142.5 million in the Fiscal 2026 fourth quarter. Net leverage was 2.2x at the end of the Fiscal 2026 fourth quarter, down from 3.0x at the end of the third quarter, reflecting strong cash generation and continued progress in strengthening our leverage position.

Quarterly Cash Dividend and Share Repurchases
On August 12, 2026, the Company’s Board of Directors approved a 3% increase in the quarterly cash dividend to $0.36 per share. The dividend was paid on September 23, 2026, to common stockholders of record at the close of business on September 9, 2026.

“Fiscal 2026 also reflected the strength of our balance sheet and disciplined approach to capital allocation,” Happe said. “The renewal and extension of our $350 million revolving credit facility through 2031 and the Board’s decision to increase the quarterly dividend underscore our confidence in the business and long-term strategy. Supported by solid operating cash flow, improved working-capital performance and lower year-end leverage, we exited the year with a stronger balance sheet and the flexibility to continue investing in innovation, operations and customer experience.”

Outlook

For calendar year 2026, Winnebago Industries now expects North American RV wholesale shipments in the range of 275,000 to 295,000 units. For calendar year 2027, Winnebago Industries anticipates total North American RV wholesale shipments in the range of 265,000 to 295,000 units. Based on this outlook and the current business environment, in Fiscal 2027 the Company expects:

• Consolidated net revenues in the range of $2.65 to $2.80 billion;
• Reported earnings per diluted share in the range of $0.90 to $1.50; and
• Adjusted earnings per diluted share in the range of $1.65 to $2.25⁽²⁾

The Company’s outlook takes into account prevailing trends in the RV sector, including the impacts from current policy and trade environment, competitive dynamics, shifts in consumer preferences, and key macroeconomic factors that may influence overall demand.

“Fiscal 2027 outlook reflects a market where the timing and pace of recovery remain difficult to predict,” Happe said. “We will stay focused on serving our customer and dealers at high levels, delivering differentiated products that consumers value and continuing to strengthen our operational efficiency and discipline. The progress we made in fiscal 2026 gives us a stronger operating foundation to manage near-term volatility and capitalize on opportunities as they emerge.”

Q4 FY 2026 Conference Call
Winnebago Industries, Inc. will discuss fourth quarter and full year Fiscal 2026 earnings results during a conference call scheduled for 9:00 a.m. Central Time today. Members of the news media, investors and the general public are invited to access a live broadcast of the conference call and view the accompanying presentation slides via the Investor Relations page of the Company’s website at http://investor.wgo.net. The event will be archived and available for replay for the next 90 days.

About Winnebago Industries
Winnebago Industries, Inc. is a leading North American manufacturer of outdoor recreation products under the Winnebago, Grand Design, Chris-Craft, Newmar and Barletta brands, which are used primarily in leisure travel and outdoor recreation activities. The Company builds high-quality motorhomes, travel trailers, fifth-wheel products, outboard and sterndrive powerboats, pontoons, and commercial community outreach vehicles. Committed to advancing sustainable innovation and leveraging vertical integration in key component areas, Winnebago Industries has multiple facilities in Iowa, Indiana, Minnesota and Florida. The Company’s common stock is listed on the New York Stock Exchange and traded under the symbol WGO. For access to Winnebago Industries’ investor relations material or to add your name to an automatic email list for Company news releases, visit http://investor.wgo.net.

Forward-Looking Statements
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including the business outlook and financial guidance for Fiscal 2027. Investors are cautioned that forward-looking statements are inherently uncertain and involve potential risks and uncertainties. A number of factors could cause actual results to differ materially from these statements, including, but not limited to general economic uncertainty in key markets and a worsening of domestic and global economic conditions or low levels of economic growth, including changes in consumer disposable income; availability of financing for RV and marine dealers and retail purchasers; competition and new product introductions by competitors; ability to innovate and commercialize new products; ability to manage our inventory to meet demand; risk related to cyclicality and seasonality of our business; risk related to performance and financial condition of independent dealers; risk related to dealer consolidation or the loss of a significant dealer; significant increase in repurchase obligations; ability to retain relationships with our suppliers and obtain components; business or production disruptions; inadequate management of dealer inventory levels; increased material and component costs, including availability and price of fuel and other raw materials; risk related to changes in trade policy, including tariffs; ability to manage strategic acquisitions, alliances, joint ventures and partnerships; ability to attract and retain qualified personnel and changes in market compensation rates; exposure to warranty claims and product recalls; ability to protect our information technology systems from failures and disruptions, including those associated with system implementations; risks related to cybersecurity incidents; risks related to the use of Artificial Intelligence (“AI”) technologies; ability to maintain compliance with data governance; ability to retain brand reputation and related exposure to product liability claims; governmental regulation, including for climate change; increased attention to sustainability matters, and our ability to meet our commitments; impairment of goodwill and trade names; risks related to our 2030 Convertible Notes and Senior Secured Notes, including our ability to satisfy our obligations under these notes; and changes in recommendations or a withdrawal of coverage by third-party securities analysts. Additional information concerning certain risks and uncertainties that could cause actual results to differ materially from that projected or suggested is contained in the Company’s filings with the Securities and Exchange Commission (“SEC”) over the last 12 months, copies of which are available from the SEC or from the Company upon request. We caution that the foregoing list of important factors is not complete. The Company disclaims any obligation or undertaking to disseminate any updates or revisions to any forward-looking statements contained in this release or to reflect any changes in the Company’s expectations after the date of this release or any change in events, conditions or circumstances on which any statement is based, except as required by law.

Contacts
Investors: Joan Ondala
ir@winnebagoind.com

Media: Dan Sullivan
media@winnebagoind.com

Winnebago Industries, Inc.
Footnotes to News Release

Footnotes:

⁽¹⁾ Source: Statistical Surveys Inc. for the trailing 12 months ended 8/31/2026 and 8/31/2025.
⁽²⁾ Fiscal 2027 adjusted EPS guidance primarily excludes the pretax impact of intangible amortization of approximately $22 million and restructuring and related costs of approximately $6 million.

Winnebago Industries, Inc. Condensed Consolidated Statements of Income (Unaudited and subject to reclassification)
	Three Months Ended
(in millions, except percent and per share data)	August 29, 2026						August 30, 2025
Net revenues	$	645.1		100.0	%		$	777.3			100.0	%
Cost of goods sold		564.4		87.5	%			678.1			87.2	%
Gross profit		80.7		12.5	%			99.2			12.8	%
Selling, general, and administrative expenses		57.6		8.9	%			73.7			9.5	%
Amortization		5.5		0.9	%			5.4			0.7	%
Total operating expenses		63.1		9.8	%			79.1			10.2	%
Operating income		17.6		2.7	%			20.1			2.6	%
Interest expense, net		4.6		0.6	%			6.6			0.8	%
Non-operating loss		0.4		0.1	%			0.2			0.1	%
Income before income taxes		12.6		2.0	%			13.3			1.7	%
Income tax provision (benefit)		2.9		0.5	%			(0.4	)		(0.1)%
Net income	$	9.7		1.5	%		$	13.7			1.8	%
Earnings per common share:
Basic	$	0.34					$	0.49
Diluted	$	0.34					$	0.49
Weighted average common shares outstanding:
Basic		28.3						28.0
Diluted		28.6						28.2
	Year Ended
(in millions, except percent and per share data)	August 29, 2026						August 30, 2025
Net revenues	$	2,703.9		100.0	%		$	2,798.2			100.0	%
Cost of goods sold		2,353.7		87.0	%			2,433.1			87.0	%
Gross profit		350.2		13.0	%			365.1			13.0	%
Selling, general, and administrative expenses		262.3		9.7	%			285.8			10.2	%
Amortization		21.7		0.8	%			22.1			0.8	%
Total operating expenses		284.0		10.5	%			307.9			11.0	%
Operating income		66.2		2.4	%			57.2			2.0	%
Interest expense, net		20.9		0.8	%			25.9			0.9	%
Loss on note repurchase		0.8		—	%			2.0			0.1	%
Non-operating loss (income)		0.1		—	%			(0.8	)		(0.1)%
Income before income taxes		44.4		1.6	%			30.1			1.1	%
Income tax provision		9.9		0.4	%			4.4			0.2	%
Net income	$	34.5		1.2	%		$	25.7			0.9	%
Earnings per common share:
Basic	$	1.22					$	0.91
Diluted	$	1.21					$	0.91
Weighted average common shares outstanding:
Basic		28.2						28.2
Diluted		28.4						28.3
Amounts in tables are calculated based on unrounded numbers and therefore may not recalculate using the rounded numbers provided.
In addition, percentages may not add in total due to rounding.

Winnebago Industries, Inc. Condensed Consolidated Balance Sheets (Unaudited and subject to reclassification)
(in millions)	August 29, 2026			August 30, 2025
Assets
Current assets
Cash and cash equivalents	$	181.4		$	174.0
Receivables, net		153.5			192.0
Inventories, net		404.7			396.4
Prepaid expenses and other current assets		38.7			29.8
Total current assets		778.3			792.2
Property, plant, and equipment, net		317.6			333.0
Goodwill		484.2			484.2
Other intangible assets, net		435.3			456.9
Investment in life insurance		28.3			27.1
Operating lease assets		39.6			41.6
Other long-term assets		18.2			19.4
Total assets	$	2,101.5		$	2,154.4
Liabilities and Shareholders’ Equity
Current liabilities
Accounts payable	$	174.1		$	129.3
Accrued expenses		185.1			197.8
Total current liabilities		359.2			327.1
Long-term debt, net		443.3			540.5
Deferred income tax liabilities, net		12.3			5.9
Unrecognized tax benefits		4.1			4.8
Long-term operating lease liabilities		36.3			39.3
Deferred compensation benefits, net of current portion		4.3			5.1
Other long-term liabilities		5.4			7.0
Total liabilities		864.9			929.7
Shareholders’ equity		1,236.6			1,224.7
Total liabilities and shareholders’ equity	$	2,101.5		$	2,154.4

Winnebago Industries, Inc. Condensed Consolidated Statements of Cash Flows (Unaudited and subject to reclassification)
	Year Ended
(in millions)	August 29, 2026				August 30, 2025
Operating activities
Net income	$	34.5			$	25.7
Adjustments to reconcile net income to net cash provided by operating activities
Depreciation		38.3				38.5
Amortization		21.7				22.1
Amortization of debt issuance costs		2.5				3.0
Last in, first-out expense		0.1				1.8
Stock-based compensation		16.9				15.8
Deferred income taxes		6.3				2.9
Deferred compensation expense		0.6				0.7
Loss on note repurchase (Note 8)		0.8				2.0
Asset impairment		—				1.2
Restructuring and related costs		1.6				2.9
Other, net		(2.7	)			(1.0	)
Change in operating assets and liabilities, net of assets and liabilities acquired
Receivables, net		38.5				(8.2	)
Inventories, net		(8.4	)			40.5
Prepaid expenses and other assets		(4.3	)			9.2
Accounts payable		43.7				(11.6	)
Income taxes and unrecognized tax benefits		3.3				1.3
Accrued expenses and other liabilities		(24.7	)			(17.9	)
Net cash provided by operating activities		168.7				128.9
Investing activities
Purchases of property, plant, and equipment		(24.1	)			(39.4	)
Proceeds from the sale of property, plant, and equipment		5.6				2.2
Other, net		—				2.4
Net cash used in investing activities		(18.5	)			(34.8	)
Financing activities
Borrowings on long-term debt		3.0				48.8
Repayments on long-term debt		(103.0	)			(208.7	)
Payments of cash dividends		(39.9	)			(38.9	)
Payments for repurchases of common stock		(1.7	)			(53.7	)
Payments of debt issuance costs		(2.2	)			—
Other, net		1.0				1.5
Net cash used in financing activities		(142.8	)			(251.0	)
Net increase (decrease) in cash and cash equivalents		7.4				(156.9	)
Cash and cash equivalents at beginning of period		174.0				330.9
Cash and cash equivalents at end of period	$	181.4			$	174.0
Supplemental Disclosures
Income taxes paid, net	$	0.9			$	2.5
Interest paid		22.3				29.5
Non-cash investing and financing activities
Capital expenditures in accounts payable	$	1.4			$	0.4
Dividends declared not yet paid		11.7				11.0
Increase in lease assets in exchange for lease liabilities:
Operating leases		5.5				2.7
Financing leases		—				0.2

Winnebago Industries, Inc. Supplemental Information by Reportable Segment – Towable RV (in millions, except unit data) (Unaudited and subject to reclassification)
	Three Months Ended
	August 29, 2026			% of Revenues(1)			August 30, 2025			% of Revenues(1)			$ Change(1)				% Change(1)
Net revenues	$	220.3					$	306.3					$	(86.0	)		(28.1)%
Operating income		9.3		4.2	%			21.4		7.0	%			(12.1	)		(56.5)%
	Three Months Ended
Unit deliveries	August 29, 2026			Product Mix(2)			August 30, 2025			Product Mix(2)			Unit Change				% Change
Travel trailer		4,671		78.0	%			5,680		72.5	%			(1,009	)		(17.8)%
Fifth wheel		1,314		22.0	%			2,153		27.5	%			(839	)		(39.0)%
Total Towable RV		5,985		100.0	%			7,833		100.0	%			(1,848	)		(23.6)%
	Year Ended
	August 29, 2026			% of Revenues(1)			August 30, 2025			% of Revenues(1)			$ Change(1)				% Change(1)
Net revenues	$	1,050.8					$	1,220.2					$	(169.4	)		(13.9)%
Operating income		47.5		4.5	%			72.7		6.0	%			(25.2	)		(34.7)%
	Year Ended
Unit deliveries	August 29, 2026			Product Mix(2)			August 30, 2025			Product Mix(2)			Unit Change				% Change
Travel trailer		20,021		74.1	%			21,714		69.7	%			(1,693	)		(7.8)%
Fifth wheel		6,983		25.9	%			9,455		30.3	%			(2,472	)		(26.1)%
Total Towable RV		27,004		100.0	%			31,169		100.0	%			(4,165	)		(13.4)%
Dealer Inventory(3)	August 29, 2026						August 30, 2025						Unit Change				% Change
Units		15,471						16,200						(729	)		(4.5)%
(1)  Amounts are calculated based on unrounded numbers and therefore may not recalculate using the rounded numbers provided.
(2)  Percentages may not add due to rounding differences.
(3)  Data is based on the latest information available from our dealer partners and is subject to timing of reporting and other limitations.

Winnebago Industries, Inc. Supplemental Information by Reportable Segment – Motorhome RV (in millions, except unit data) (Unaudited and subject to reclassification)
	Three Months Ended
	August 29, 2026			% of Revenues(1)			August 30, 2025				% of Revenues(1)			$ Change(1)				% Change(1)
Net revenues	$	323.6					$	361.2						$	(37.6	)		(10.4)%
Operating income (loss)		7.9		2.4	%			(0.3	)		(0.1)%				8.2			NM
	Three Months Ended
Unit deliveries	August 29, 2026			Product Mix(2)			August 30, 2025				Product Mix(2)			Unit Change				% Change
Class A		187		11.9	%			403			23.1	%			(216	)		(53.6)%
Class B		518		33.0	%			524			30.0	%			(6	)		(1.1)%
Class C		865		55.1	%			818			46.9	%			47			5.7	%
Total Motorhome RV		1,570		100.0	%			1,745			100.0	%			(175	)		(10.0)%
	Year Ended
	August 29, 2026			% of Revenues(1)			August 30, 2025				% of Revenues(1)			$ Change(1)				% Change(1)
Net revenues	$	1,257.5					$	1,159.7						$	97.7			8.4	%
Operating income (loss)		33.2		2.6	%			(7.3	)		(0.6)%				40.4			NM
	Year Ended
Unit deliveries	August 29, 2026			Product Mix(2)			August 30, 2025				Product Mix(2)			Unit Change				% Change
Class A		892		15.1	%			1,211			21.1	%			(319	)		(26.3)%
Class B		1,934		32.6	%			1,682			29.3	%			252			15.0	%
Class C		3,099		52.3	%			2,849			49.6	%			250			8.8	%
Total Motorhome RV		5,925		100.0	%			5,742			100.0	%			183			3.2	%
Dealer Inventory(3)	August 29, 2026						August 30, 2025							Unit Change				% Change
Units		3,395						3,562							(167	)		(4.7)%
(1)  Amounts are calculated based on unrounded numbers and therefore may not recalculate using the rounded numbers provided.
(2)  Percentages may not add due to rounding differences.
(3)  Data is based on the latest information available from our dealer partners and is subject to timing of reporting and other limitations.
NM: Not meaningful.

Winnebago Industries, Inc. Supplemental Information by Reportable Segment – Marine (in millions, except unit data) (Unaudited and subject to reclassification)
	Three Months Ended
	August 29, 2026			% of Revenues(1)			August 30, 2025			% of Revenues(1)			$ Change(1)				% Change(1)
Net revenues	$	92.3					$	94.9					$	(2.6	)		(2.7)%
Operating income		6.6		7.1	%			6.7		7.1	%			(0.1	)		(1.5)%
	Three Months Ended
Unit deliveries	August 29, 2026						August 30, 2025						Unit Change				% Change
Boats		1,141						1,164						(23	)		(2.0)%
	Year Ended
	August 29, 2026			% of Revenues(1)			August 30, 2025			% of Revenues(1)			$ Change(1)				% Change(1)
Net revenues	$	356.4					$	367.8					$	(11.4	)		(3.1)%
Operating income		20.9		5.9	%			27.7		7.5	%			(6.8	)		(24.5)%
	Year Ended
Unit deliveries	August 29, 2026						August 30, 2025						Unit Change				% Change
Boats		4,423						4,635						(212	)		(4.6)%
Dealer Inventory(2,3)	August 29, 2026						August 30, 2025						Unit Change				% Change
Units		2,510						2,687						(177	)		(6.6)%
(1) Amounts are calculated based on unrounded numbers and therefore may not recalculate using the rounded numbers provided.
(2) Due to the nature of the Marine industry, this amount includes a higher proportion of retail sold units than our other segments.
(3) Data is based on the latest information available from our dealer partners and is subject to timing of reporting and other limitations.
NM: Not meaningful.

Winnebago Industries, Inc. Non-GAAP Reconciliation (Unaudited and subject to reclassification)
Non-GAAP financial measures, which are not calculated or presented in accordance with accounting principles generally accepted in the United States (“GAAP”), have been provided as information supplemental and in addition to the financial measures presented in the accompanying news release that are calculated and presented in accordance with GAAP. Such non-GAAP financial measures should not be considered superior to, as a substitute for, or as an alternative to, and should be considered in conjunction with, the GAAP financial measures presented in the news release. The non-GAAP financial measures presented may differ from similar measures used by other companies.
The following table reconciles diluted earnings per share to Adjusted diluted earnings per share:
	Three Months Ended								Year Ended
	August 29, 2026				August 30, 2025				August 29, 2026				August 30, 2025
Diluted earnings per share	$	0.34			$	0.49			$	1.21			$	0.91
Amortization(1)		0.19				0.19				0.76				0.78
Loss on note repurchase(1)		—				—				0.03				0.07
Asset impairment(1)		—				—				—				0.04
Restructuring and related costs(1)		—				0.10				0.06				0.10
Gain on sale of property, plant and equipment(1)		—				—				(0.10	)			—
Tax impact of adjustments(2)		(0.04	)			(0.07	)			(0.17	)			(0.23	)
Adjusted diluted earnings per share(3)	$	0.49			$	0.71			$	1.79			$	1.67
(1) Represents a pre-tax adjustment.
(2) Income tax impact calculated using the statutory tax rate for the U.S. of 22.0% and 23.0% for Fiscal 2026 and Fiscal 2025.
(3) Per share numbers may not foot due to rounding.

The following table reconciles net income to consolidated EBITDA and Adjusted EBITDA:

	Three Months Ended							Year Ended
(in millions)	August 29, 2026			August 30, 2025				August 29, 2026				August 30, 2025
Net income	$	9.7		$	13.7			$	34.5			$	25.7
Interest expense, net		4.6			6.6				20.9				25.9
Income tax provision (benefit)		2.9			(0.4	)			9.9				4.4
Depreciation		9.5			9.8				38.3				38.5
Amortization		5.5			5.4				21.7				22.1
EBITDA		32.2			35.1				125.3				116.6
Loss on note repurchase		—			—				0.8				2.0
Asset impairment		—			—				—				1.2
Restructuring and related costs		—			2.9				1.6				2.9
Gain on sale of property, plant and equipment		—			—				(2.8	)			—
Non-operating loss (income)		0.4			0.2				0.1				(0.8	)
Adjusted EBITDA	$	32.6		$	38.2			$	125.0			$	121.9

Non-GAAP performance measures of Adjusted diluted earnings per share, EBITDA and Adjusted EBITDA have been provided as comparable measures to illustrate the effect of non-recurring transactions occurring during the reported periods and to improve comparability of our results from period to period. Adjusted diluted earnings per share is defined as diluted earnings per share adjusted for after-tax items that impact the comparability of our results from period to period. EBITDA is defined as net income before interest expense, provision for income taxes, and depreciation and amortization expense. Adjusted EBITDA is defined as net income before interest expense, provision for income taxes, depreciation and amortization expense and other pretax adjustments made in order to present comparable results from period to period. Management believes Adjusted diluted earnings per share and Adjusted EBITDA provide meaningful supplemental information about our operating performance because these measures exclude amounts that we do not consider part of our core operating results when assessing our performance.

Management uses these non-GAAP financial measures (a) to evaluate historical and prospective financial performance and trends as well as assess performance relative to competitors and peers; (b) to measure operational profitability on a consistent basis; (c) in presentations to the members of our Board of Directors to enable our Board of Directors to have the same measurement basis of operating performance as is used by management in its assessments of performance and in forecasting and budgeting for the Company; (d) to evaluate potential acquisitions; and (e) to ensure compliance with restricted activities under the terms of our asset-backed revolving credit facility and outstanding notes. Management believes these non-GAAP financial measures are frequently used by securities analysts, investors, and other interested parties to evaluate companies in our industry.

CAMPBELL, Calif., Oct. 21, 2026 (GLOBE NEWSWIRE) — Arteris, Inc. (Nasdaq: AIP), a leading provider of semiconductor technology for accelerating innovation in the AI era, today announced it will release its financial results for the third quarter ended September 30, 2026, after market close on Thursday, November 5, 2026.

Management will host a conference call on Thursday, November 5, 2026, at 4:30 PM ET to discuss these results. The call will be available, live, to interested parties by dialing:

United States/Canada Toll Free:	+1-800-717-1738
International Toll:	+1-646-307-1865

Please join the call 5-10 minutes prior to the scheduled start time to avoid a delay in connecting. A live webcast will be available in the Investor Relations section of Arteris’ website at: https://ir.arteris.com/events-and-presentations.

A replay of the webcast will be available on the Events and Presentations page in the Investor Relations section of the company’s website approximately two hours after the conclusion of the call and remain available for approximately 30 calendar days.

About Arteris
Arteris is a leading provider of semiconductor technology that accelerates the creation of high-performance, power-efficient silicon with built-in safety, reliability, and security. Innovative Arteris products are designed to optimize data movement and help ease complexity in the modern AI era with network-on-chip (NoC) interconnect intellectual property (IP), system-on-chip (SoC) software for integration automation and hardware security assurance. All are used by the world’s top technology companies to improve overall performance and engineering productivity, reduce risk, lower costs, and bring cutting-edge designs to market faster. Learn more at arteris.com.

© 2004-2026 Arteris, Inc. All rights reserved worldwide. Arteris, Arteris IP, the Arteris IP logo, and the other Arteris marks found at arteris.com/trademarks are trademarks or registered trademarks of Arteris, Inc. or its subsidiaries. All other trademarks are the property of their respective owners.

Investor Contacts
Arteris Inc.
Saurabh Sinha
Chief Financial Officer
ir@arteris.com

Sapphire Investor Relations, LLC
Erica Mannion or Mike Funari
ir@arteris.com
+1-617-542-6180

NEW YORK, Oct. 21, 2026 (GLOBE NEWSWIRE) — OTC Markets Group Inc. (OTCQX: OTCM), operator of regulated markets for trading 12,000 U.S. and international securities, today named Meighan McGowan Executive Vice President, Corporate Services. McGowan will lead a global sales team that works with companies seeking access to U.S. investors through the OTCQX® Best Market, OTCQB® Venture Market and OTCID® Basic Market, from international companies listed on their home exchanges to U.S. growth companies and banks. McGowan joins from Computershare, where she was Head of Business Development, Investor Engagement North America, a division that includes Georgeson Advisory, Investor Intelligence and IR Suite.

“We are thrilled to welcome Meighan to our leadership team,” said Cromwell Coulson, President and CEO of OTC Markets Group. “She brings deep expertise working alongside executives at leading public companies, helping them better understand their shareholder base, enhance governance and identify opportunities to engage new investors. As more companies look to expand their U.S. investor reach, Meighan’s insight will be invaluable in shaping how we support their growth and success with our premium markets.”

“OTC Markets has established a differentiated position in the global capital markets ecosystem, connecting companies with U.S. investors through an innovative and efficient market structure,” said McGowan. “The team here has built strong relationships with issuers across the firm’s New York, London, and Hong Kong offices, and I look forward to working with them to drive the next phase of growth for Corporate Services.”

At Computershare, McGowan led go-to-market strategy and business development for the Investor Engagement division, overseeing commercial initiatives across corporate advisory, investor intelligence and investor relations technology. Prior to that, she held a senior business development role at Morrow Sodali, where she advised public companies, their in-house counsel and investor relations teams on corporate governance, proxy solicitation, capital markets intelligence, and M&A and activism defense. She spent six years at Institutional Shareholder Services (ISS), rising from Senior Account Executive to Vice President, and managed relationships with asset managers, retirement recordkeepers, and technology providers. She began her career in advertising sales at NBCUniversal and Business Insider.

McGowan was named to NIRI’s 2026 class of Rising Leaders Under 40. She served as the Vice-Chair of the 2026 NIRI Annual Conference and was an active speaker and participant with Society for Corporate Governance. She holds a BA in Psychology from Williams College. She will be based in New York and report to Coulson.

About OTC Markets Group Inc.

OTC Markets Group Inc. (OTCQX: OTCM) operates regulated markets for trading 12,000 U.S. and international securities. Our data-driven disclosure standards form the foundation of our public markets: OTCQX® Best Market, OTCQB® Venture Market, OTCID® Basic Market, and Pink Limited™ Market.

Our OTC Link® Alternative Trading Systems (ATSs) provide critical market infrastructure that broker-dealers rely on to facilitate trading. Our innovative model offers companies more efficient access to the U.S. financial markets.

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

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

Media Contact:

OTC Markets Group Inc.
Phone: (212) 896-4428
Email: media@otcmarkets.com

SCRANTON, Pa., Oct. 21, 2026 (GLOBE NEWSWIRE) — Fidelity D & D Bancorp, Inc. (NASDAQ: FDBC) and its banking subsidiary, Fidelity Bank, announced its unaudited, consolidated financial results for the three and nine-month periods ended September 30, 2026.

Unaudited Financial Information

Net income for the quarter ended September 30, 2026 was $8.9 million, or $1.53 per diluted share, compared to $7.3 million, or $1.27 per diluted share, for the quarter ended September 30, 2025. The $1.6 million, or 21%, increase in net income resulted primarily from a $3.4 million increase in net interest income coupled with a $1.0 million increase in non-interest income. This was partially offset by a $1.5 million increase in non-interest expense and a $0.9 million increase in the provision for credit losses on loans due to the growth of loans.

For the nine months ended September 30, 2026, net income was $24.2 million, or $4.16 diluted earnings per share, compared to $20.3 million, or $3.50 diluted earnings per share, for the nine months ended September 30, 2025.  The $3.9 million, or 20%, increase in net income stemmed from the $8.6 million increase in net interest income and $1.4 million increase in non-interest income. This was partially offset by a $3.4 million increase in non-interest expense and a $1.8 million increase in the net provision for credit losses on loans and unfunded commitments.

“We delivered record earnings in the third quarter, generating net income of $8.9 million, or $1.53 per diluted share, with total assets reaching $3.0 billion,” said Daniel J. Santaniello, President and Chief Executive Officer. “These results reflect the strong focus and dedication of our Bankers as we continue to execute on our strategic initiatives, including the successful opening of our new Corporate Center in downtown Scranton. We remain confident in our position as we enter the fourth quarter and look ahead to 2027.”

Consolidated Third Quarter Operating Results Overview

Net interest income increased $3.4 million, or 18%, compared with the third quarter of 2025, driven by higher average loan balances, improved loan yields and lower funding costs. Average loans increased $237.3 million, while the fully-taxable equivalent (“FTE”) (non-GAAP measurement) yield on loans increased 4 basis points, resulting in higher interest income. Funding costs also benefited from a 29 basis point decline in the average rate paid on interest-bearing deposits, which more than offset the impact of a $76.4 million increase in average interest-bearing deposit balances. Collectively, these factors contributed to a 35 basis point increase in FTE net interest margin to 3.30%.

The FTE yield on interest-earning assets was 4.95% for the third quarter of 2026, an increase of 12 basis points from 4.83% for the third quarter of 2025. The overall cost of interest-bearing liabilities was 2.26% for the third quarter of 2026, a decrease of 29 basis points from the 2.55% for the third quarter of 2025. The cost of funds decreased 23 basis points from 1.98% to 1.75% for the third quarters of 2025 and 2026, respectively. The Company’s FTE net interest spread was 2.69% for the third quarter of 2026, an increase of 41 basis points from 2.28% recorded for the third quarter of 2025.

For the three months ended September 30, 2026, the provision for credit losses on loans was $1.1 million and a $50 thousand benefit for credit losses on unfunded commitments, compared to a $200 thousand provision for credit losses on loans and a $110 thousand provision for credit losses on unfunded commitments for the three months ended September 30, 2025. For the three months ended September 30, 2026, the increase in the provision for credit losses on loans compared to the prior year period primarily reflected growth in the loan portfolio. For the three months ended September 30, 2026, the decrease in the provision for credit losses on unfunded commitments compared to the prior-year period was primarily due to a reduction in unfunded construction commitments. 

Total non-interest income increased $1.0 million, or 20%, to $6.1 million for the third quarter of 2026 compared to $5.1 million for the third quarter of 2025. The increase included $0.4 million of higher wealth management revenue and a $0.3 million gain on the sale of bank property. Commercial loan fee income also increased $0.2 million, primarily attributable to a prepayment penalty recognized during the quarter.

Non-interest expenses increased $1.5 million, or 10%, for the third quarter of 2026 to $16.1 million from $14.6 million for the same quarter of 2025. The increase in non-interest expenses was attributed to added salaries and benefits expense of $0.6 million, primarily reflecting higher staffing levels to support business growth and strategic initiatives. Additionally, the Company experienced increases of $0.4 million in premises and equipment expenses primarily due to costs for software and subscriptions and depreciation. Donations expense increased $0.3 million in the third quarter of 2026 compared to the same period in the prior year, primarily reflecting a one-time charitable contribution. Despite the increase in non-interest expense, the efficiency ratio improved to 56.11% from 60.17% in the prior-year period, reflecting improved operating leverage.

The provision for income taxes increased $0.6 million during the three months ended September 30, 2026 compared to the same period in 2025 primarily due to a $2.2 million increase in income before taxes.

Consolidated Year-To-Date Operating Results Overview

Net interest income was $62.0 million for the nine months ended September 30, 2026 compared to $53.4 million for the nine months ended September 30, 2025. The $8.6 million increase in net interest income resulted from the increase of $6.5 million in interest income primarily due to a $134.6 million increase in the average balance of interest-earning assets and an 8 basis point increase in FTE yield. The largest contributor to interest income growth was the loan portfolio which produced an additional $8.8 million in interest income from an increase of 5 basis points in FTE loan yields on $193.1 million in higher average balances. The increase in interest income was partially offset by a decrease of $1.5 million in interest earned on the investment portfolio due to decreases of 17 basis points in yield and $49.8 million in average balances. Additionally, the Company experienced a decrease of $2.0 million in interest expense on deposits due to a 26 basis point decrease in rates paid on interest-bearing deposits which more than offset the increase from $98.6 million in higher average balances during the nine months ended September 30, 2026.

The overall cost of interest-bearing liabilities was 2.26% for the nine months ended September 30, 2026 compared to 2.52% for the nine months ended September 30, 2025. The cost of funds decreased 21 basis points to 1.75% for the nine months ended September 30, 2026 from 1.96% for the same period of 2025. The FTE yield on interest earning assets was 4.86% for the nine months ended September 30, 2026, an increase of 8 basis points from the 4.78% year-to-date September 30, 2025. The Company’s FTE net interest spread was 2.60% for the nine months ended September 30, 2026, an increase of 34 basis points from the 2.26% recorded for the same period of 2025. FTE net interest margin increased by 28 basis points to 3.20% for the nine months ended September 30, 2026 from 2.92% for the same 2025 period, primarily reflecting lower rates paid on interest-bearing deposits and higher yields earned on loans and leases.

For the nine months ended September 30, 2026, the provision for credit losses on loans was $2.4 million and the provision for credit losses on unfunded commitments was $380 thousand compared to a $955 thousand provision for credit losses on loans and a $45 thousand provision for credit losses on unfunded commitments for the nine months ended September 30, 2025. For the nine months ended September 30, 2026, the increase in the provision for credit losses on loans compared to the prior year period was due to higher loan growth. For the nine months ended September 30, 2026, the increase in the provision for unfunded commitments compared to the prior-year period was due to growth in originations within the portfolio, specifically in commercial construction commitments.

Total non-interest income for the nine months ended September 30, 2026 was $16.8 million, an increase of $1.4 million, or 9%, from $15.4 million for the nine months ended September 30, 2025. The increase was primarily due to $1.0 million growth in wealth management revenue. Additionally, the Company saw increases of $0.3 million in fees from commercial loans with interest rate hedges and $0.4 million in service charges on commercial loans during the nine months ended September 30, 2026 compared to the same 2025 period. Partially offsetting the increase in non-interest income was a decrease of $0.6 million in gains from sold loans primarily due to a $0.5 million gain on the sale of a commercial loan during the nine months ended September 30, 2025.

Non-interest expenses increased to $47.3 million for the nine months ended September 30, 2026, an increase of $3.4 million, or 8%, from $43.9 million for the nine months ended September 30, 2025. Salaries and benefits expense increased $1.8 million due to an increase in bankers in the nine months ended September 30, 2026, compared to the same period in 2025. Additionally, the Company experienced an increase of $0.6 million in premises and equipment expenses primarily due to new technology and higher software costs. Donations expense increased $0.5 million compared to the prior-year period, primarily due to a $0.3 million contribution made to the Fidelity D & D Charitable Foundation. Professional services expense increased $0.4 million primarily attributable to improvement initiatives throughout the bank and relocation-related costs incurred in connection with the transition of bankers to the Company’s new corporate headquarters, which was completed in the third quarter of 2026.

The provision for income taxes increased $0.8 million during the nine months ended September 30, 2026 compared to the same period in 2025 primarily due to a $4.8 million increase in income before taxes. Partially offsetting the increase in income tax expense was approximately $0.5 million of benefit associated with purchased renewable energy tax credits.

Consolidated Balance Sheet & Asset Quality Overview

The Company’s total assets had a balance of $3.0 billion as of September 30, 2026, an increase of $280.3 million from December 31, 2025. The increase resulted from $261.7 million of net growth in the loans and leases portfolio as of September 30, 2026 compared to December 31, 2025. Cash and cash equivalents increased $25.5 million over the same period. Investment securities decreased $10.7 million from December 31, 2025, reflecting principal paydowns, maturities and sales, and changes in the fair value of available-for-sale securities, partially offset by security purchases.

During the same time period, total liabilities increased $272.2 million, or 11%. Deposit growth of $142.9 million was utilized to fund loan growth and increase interest-bearing cash balances. Short-term borrowings increased $132.7 million during the period. The Company experienced an increase of $40.7 million in non-interest-bearing checking accounts. For interest-bearing deposit accounts, the Company experienced increases of $73.3 million in money market deposits, $44.2 million in interest-bearing checking accounts and $5.1 million in savings and clubs. These increases were partially offset by a decrease of $20.4 million in time deposits. As of September 30, 2026, the ratio of insured and collateralized deposits to total deposits was approximately 72%.

Shareholders’ equity increased $8.1 million, or 3%, to $247.0 million at September 30, 2026 from $238.9 million at December 31, 2025. The increase was caused by $16.7 million from retained earnings produced from net income of $24.2 million and $1.2 million associated with common stock issuance and restricted stock. This activity was partially offset by $7.6 million of cash dividends and a $9.7 million after-tax reduction in accumulated other comprehensive income. At September 30, 2026, there were no credit losses on available-for-sale and held-to-maturity debt securities. Accumulated other comprehensive income (loss) is excluded from regulatory capital ratios. The Company remains well capitalized with Tier 1 capital at 9.64% of total average assets as of September 30, 2026. Total risk-based capital was 14.10% of risk-weighted assets and Tier 1 risk-based capital was 12.97% of risk-weighted assets as of September 30, 2026. Tangible book value per share was $39.06 at September 30, 2026 compared to $37.88 at December 31, 2025.  Tangible common equity decreased to 7.54% of total assets at September 30, 2026 compared to 8.01% at December 31, 2025 due to a 10% increase in total tangible assets compared to a 4% increase in tangible common equity.

Asset Quality

Total non-performing assets were $2.6 million, or 0.08% of total assets, at September 30, 2026, compared to $2.2 million, or 0.08% of total assets, at December 31, 2025. Past due and non-accrual loans to total loans were 0.19% at September 30, 2026 compared to 0.26% at December 31, 2025. Net charge-offs to average total loans were 0.01% at September 30, 2026 compared to 0.03% at December 31, 2025.

About Fidelity D & D Bancorp, Inc. and Fidelity Bank

Fidelity D & D Bancorp, Inc. has built a strong history as a trusted financial advisor to the clients served by Fidelity Bank.  Fidelity Bank continues its mission of exceeding client expectations through a unique banking experience. It operates 21 full-service offices throughout Lackawanna, Luzerne, Lehigh and Northampton Counties and a Fidelity Bank Wealth Management Office in Schuylkill County. Fidelity Bank provides a digital banking experience online at www.bankatfidelity.com, through the Fidelity Mobile Banking app, and in the Client Care Center at 1-800-388-4380. Additionally, the Bank offers full-service Wealth Management & Brokerage Services, a Mortgage Center, and a full suite of personal and commercial banking products and services. Part of the Company’s vision is to serve as the best bank for the community, which was accomplished by having provided over 6,190 hours of volunteer time and over $1.5 million in donations to non-profit organizations directly within the markets served throughout 2025. Fidelity Bank’s deposits are insured by the Federal Deposit Insurance Corporation up to the full extent permitted by law.

Non-GAAP Financial Measures

The Company uses non-GAAP financial measures to provide information useful to the reader in understanding its operating performance and trends, and to facilitate comparisons with the performance of other financial institutions. Management uses these measures internally to assess and better understand our underlying business performance and trends related to core business activities.  The Company’s non-GAAP financial measures and key performance indicators may differ from the non-GAAP financial measures and key performance indicators other financial institutions use to measure their performance and trends. Non-GAAP financial measures are supplemental to GAAP used to prepare the Company’s operating results and should not be read in isolation or relied upon as a substitute for GAAP measures. Adjusted non-interest income used in the calculation of certain non-GAAP performance measures excludes gains and losses on securities sales in order to enhance comparability between reporting periods. Reconciliations of non-GAAP financial measures to GAAP are presented in the tables below.

Interest income was adjusted to recognize the income from tax exempt interest-earning assets as if the interest was taxable, fully-taxable equivalent (“FTE”), in order to calculate certain ratios within this document.  This treatment allows a uniform comparison among yields on interest-earning assets.  Interest income was FTE adjusted, using the corporate federal tax rate of 21% for 2026 and 2025. FTE adjustments affect interest income and related ratios only and do not impact reported GAAP net income.

Forward-looking statements

Certain of the matters discussed in this press release constitute forward-looking statements for purposes of the Securities Act of 1933, as amended, and the Securities Exchange Act of 1934, as amended, and as such may involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to be materially different from future results, performance or achievements expressed or implied by such forward-looking statements.  The words “expect,” “anticipate,” “intend,” “plan,” “believe,” “estimate,” and similar expressions are intended to identify such forward-looking statements.

The Company’s actual results may differ materially from the results anticipated in these forward-looking statements due to a variety of factors, including, without limitation:

	■	local, regional and national economic conditions and changes thereto;
	■	the short-term and long-term effects of inflation, and rising costs to the Company, its customers and on the economy;
	■	the risks of changes and volatility of interest rates on the level and composition of deposits, loan demand, and the values of loan collateral, securities and interest rate protection agreements, as well as interest rate risks;
	■	securities markets and monetary fluctuations and volatility;
	■	disruption of credit and equity markets;
	■	impacts of the capital and liquidity requirements of the Basel III standards and other regulatory pronouncements, regulations and rules;
	■	governmental monetary and fiscal policies, as well as legislative and regulatory changes;
	■	effects of short- and long-term federal budget and tax negotiations and their effect on economic and business conditions;
	■	the costs and effects of litigation and of unexpected or adverse outcomes in such litigation;
	■	the impact of new or changes in existing laws and regulations, including laws and regulations concerning taxes, banking, securities and insurance and their application with which the Company and its subsidiaries must comply;
	■	the effect of changes in accounting policies and practices, as may be adopted by the regulatory agencies, as well as the Financial Accounting Standards Board and other accounting standard setters;
	■	the effects of competition from other commercial banks, thrifts, mortgage banking firms, consumer finance companies, credit unions, securities brokerage firms, insurance companies, money market and other mutual funds and other financial institutions operating in our market area and elsewhere, including institutions operating locally, regionally, nationally and internationally, together with such competitors offering banking products and services by mail, telephone, computer and the internet;
	■	the effects of economic conditions of any other pandemic, epidemic or other health-related crisis such as COVID-19 and responses thereto on current customers and the operations of the Company, specifically the effect of the economy on loan customers’ ability to repay loans;
	■	the effects of bank failures, banking system instability, deposit fluctuations, loan and securities value changes;
	■	technological changes;
	■	the interruption or breach in security of our information systems, continually evolving cybersecurity and other technological risks and attacks resulting in failures or disruptions in customer account management, general ledger processing and loan or deposit updates and potential impacts resulting therefrom including additional costs, reputational damage, regulatory penalties, and financial losses;
	■	acquisitions and integration of acquired businesses;
	■	the failure of assumptions underlying the establishment of reserves for loan losses and estimations of values of collateral and various financial assets and liabilities;
	■	acts of war, terrorism, or armed conflict; and
	■	the risk that our analyses of these risks and forces could be incorrect and/or that the strategies developed to address them could be unsuccessful.

The Company cautions readers not to place undue reliance on forward-looking statements, which reflect analyses only as of the date of this release.  The Company has no obligation to update any forward-looking statements to reflect events or circumstances after the date of this release.

For more information please visit our investor relations web site located through www.bankatfidelity.com. 

FIDELITY D & D BANCORP, INC.
Unaudited Condensed Consolidated Balance Sheets
(dollars in thousands)

At Period End:		September 30, 2026				December 31, 2025
Assets
Cash and cash equivalents		$	173,606			$	148,060
Investment securities			513,270				523,946
Restricted investments in bank stock			7,729				4,373
Loans and leases			2,175,412				1,911,724
Allowance for credit losses on loans			(22,391	)			(20,168	)
Premises and equipment, net			48,122				48,950
Life insurance cash surrender value			60,593				59,396
Goodwill and core deposit intangible			20,076				20,242
Other assets			52,002				51,535
Total assets		$	3,028,419			$	2,748,058
Liabilities
Non-interest-bearing deposits		$	593,270			$	552,581
Interest-bearing deposits			2,017,002				1,914,772
Total deposits			2,610,272				2,467,353
Short-term borrowings			132,708				20
Secured borrowings			4,709				5,995
Other liabilities			33,746				35,830
Total liabilities			2,781,435				2,509,198
Shareholders’ equity			246,984				238,860
Total liabilities and shareholders’ equity		$	3,028,419			$	2,748,058

Average Year-To-Date Balances:		September 30, 2026				December 31, 2025
Assets
Cash and cash equivalents		$	117,413			$	133,171
Investment securities			513,320				544,390
Restricted investments in bank stock			4,775				4,189
Loans and leases			2,039,312				1,866,637
Allowance for credit losses on loans			(21,217	)			(20,315	)
Premises and equipment, net			50,249				40,457
Life insurance cash surrender value			60,056				58,786
Goodwill and core deposit intangible			20,147				20,358
Other assets			48,495				42,032
Total assets		$	2,832,550			$	2,689,705
Liabilities
Non-interest-bearing deposits		$	574,072			$	543,794
Interest-bearing deposits			1,967,786				1,884,507
Total deposits			2,541,858				2,428,301
Short-term borrowings			964				17
Secured borrowings			5,027				6,127
Other liabilities			36,165				36,296
Total liabilities			2,584,014				2,470,741
Shareholders’ equity			248,536				218,964
Total liabilities and shareholders’ equity		$	2,832,550			$	2,689,705

FIDELITY D & D BANCORP, INC.
Unaudited Condensed Consolidated Statements of Income
(dollars in thousands)

		Three Months Ended								Nine Months Ended
		Sep. 30, 2026				Sep. 30, 2025				Sep. 30, 2026				Sep. 30, 2025
Interest income
Loans and leases		$	30,271			$	26,660			$	85,364			$	76,583
Securities and other			2,836				4,022				9,920				12,172
Total interest income			33,107				30,682				95,284				88,755
Interest expense
Deposits			(11,219	)			(12,158	)			(33,087	)			(35,083	)
Borrowings			(76	)			(95	)			(222	)			(281	)
Total interest expense			(11,295	)			(12,253	)			(33,309	)			(35,364	)
Net interest income			21,812				18,429				61,975				53,391
Provision for credit losses on loans			(1,109	)			(200	)			(2,384	)			(955	)
Net benefit (provision) for credit losses on unfunded loan commitments			50				(110	)			(380	)			(45	)
Non-interest income			6,124				5,105				16,796				15,437
Non-interest expense			(16,108	)			(14,632	)			(47,291	)			(43,896	)
Income before income taxes			10,769				8,592				28,716				23,932
Provision for income taxes			(1,851	)			(1,246	)			(4,489	)			(3,674	)
Net income		$	8,918			$	7,346			$	24,227			$	20,258

		Three Months Ended
		Sep. 30, 2026				Jun. 30, 2026				Mar. 31, 2026				Dec. 31, 2025				Sep. 30, 2025
Interest income
Loans and leases		$	30,271			$	28,475			$	26,618			$	27,269			$	26,660
Securities and other			2,836				3,242				3,842				3,815				4,022
Total interest income			33,107				31,717				30,460				31,084				30,682
Interest expense
Deposits			(11,219	)			(10,887	)			(10,981	)			(11,717	)			(12,158	)
Borrowings			(76	)			(73	)			(73	)			(87	)			(95	)
Total interest expense			(11,295	)			(10,960	)			(11,054	)			(11,804	)			(12,253	)
Net interest income			21,812				20,757				19,406				19,280				18,429
Provision for credit losses on loans			(1,109	)			(400	)			(875	)			(100	)			(200	)
Net benefit (provision) for credit losses on unfunded loan commitments			50				(340	)			(90	)			(170	)			(110	)
Non-interest income			6,124				5,483				5,189				5,122				5,105
Non-interest expense			(16,108	)			(15,992	)			(15,191	)			(14,921	)			(14,632	)
Income before income taxes			10,769				9,508				8,439				9,211				8,592
Provision for income taxes			(1,851	)			(1,659	)			(979	)			(1,271	)			(1,246	)
Net income		$	8,918			$	7,849			$	7,460			$	7,940			$	7,346

FIDELITY D & D BANCORP, INC.
Unaudited Condensed Consolidated Balance Sheets
(dollars in thousands)

At Period End:		Sep. 30, 2026				Jun. 30, 2026				Mar. 31, 2026				Dec. 31, 2025				Sep. 30, 2025
Assets
Cash and cash equivalents		$	173,606			$	207,660			$	154,995			$	148,060			$	142,161
Investment securities			513,270				509,032				512,308				523,946				529,263
Restricted investments in bank stock			7,729				9,464				4,482				4,373				4,301
Loans and leases			2,175,412				2,088,893				2,023,671				1,911,724				1,914,893
Allowance for credit losses on loans			(22,391	)			(21,314	)			(20,942	)			(20,168	)			(20,218	)
Premises and equipment, net			48,122				45,929				52,738				48,950				45,422
Life insurance cash surrender value			60,593				60,189				59,792				59,396				58,995
Goodwill and core deposit intangible			20,076				20,126				20,181				20,242				20,303
Other assets			52,002				51,245				52,040				51,535				41,630
Total assets		$	3,028,419			$	2,971,224			$	2,859,265			$	2,748,058			$	2,736,750
Liabilities
Non-interest-bearing deposits		$	593,270			$	582,920			$	574,808			$	552,581			$	539,118
Interest-bearing deposits			2,017,002				1,975,732				2,001,686				1,914,772				1,927,795
Total deposits			2,610,272				2,558,652				2,576,494				2,467,353				2,466,913
Short-term borrowings			132,708				119,802				10				20				20
Secured borrowings			4,709				4,767				4,825				5,995				6,059
Other liabilities			33,746				35,098				33,284				35,830				34,511
Total liabilities			2,781,435				2,718,319				2,614,613				2,509,198				2,507,503
Shareholders’ equity			246,984				252,905				244,652				238,860				229,247
Total liabilities and shareholders’ equity		$	3,028,419			$	2,971,224			$	2,859,265			$	2,748,058			$	2,736,750

Average Quarterly Balances:		Sep. 30, 2026				Jun. 30, 2026				Mar. 31, 2026				Dec. 31, 2025				Sep. 30, 2025
Assets
Cash and cash equivalents		$	62,996			$	115,115			$	175,362			$	150,706			$	122,808
Investment securities			505,408				510,978				523,776				529,518				544,476
Restricted investments in bank stock			5,255				4,633				4,427				4,345				4,277
Loans and leases			2,129,763				2,040,314				1,945,837				1,927,366				1,892,439
Allowance for credit losses on loans			(21,952	)			(21,394	)			(20,289	)			(20,478	)			(20,400	)
Premises and equipment, net			46,928				53,498				50,358				47,400				42,602
Life insurance cash surrender value			60,451				60,051				59,656				59,255				58,875
Goodwill and core deposit intangible			20,094				20,143				20,203				20,263				20,325
Other assets			49,158				46,163				50,183				39,527				42,724
Total assets		$	2,858,101			$	2,829,501			$	2,809,513			$	2,757,902			$	2,708,126
Liabilities
Non-interest-bearing deposits		$	583,802			$	579,871			$	558,264			$	549,911			$	544,511
Interest-bearing deposits			1,977,585				1,960,662				1,964,972				1,930,040				1,901,166
Total deposits			2,561,387				2,540,533				2,523,236				2,479,951				2,445,677
Short-term borrowings			1,517				1,343				16				20				16
Secured borrowings			4,738				4,796				5,557				6,028				6,093
Other liabilities			37,050				34,509				36,931				37,754				36,415
Total liabilities			2,604,692				2,581,181				2,565,740				2,523,753				2,488,201
Shareholders’ equity			253,409				248,320				243,773				234,149				219,925
Total liabilities and shareholders’ equity		$	2,858,101			$	2,829,501			$	2,809,513			$	2,757,902			$	2,708,126

FIDELITY D & D BANCORP, INC.
Selected Financial Ratios and Other Financial Data

		Three Months Ended
		Sep. 30, 2026				Jun. 30, 2026				Mar. 31, 2026				Dec. 31, 2025				Sep. 30, 2025
Selected returns and financial ratios
Basic earnings per share		$	1.54			$	1.34			$	1.29			$	1.38			$	1.27
Diluted earnings per share		$	1.53			$	1.33			$	1.28			$	1.37			$	1.27
Dividends per share		$	0.43			$	0.43			$	0.43			$	0.43			$	0.40
Yield on interest-earning assets (FTE)*			4.95	%			4.86	%			4.77	%			4.83	%			4.83	%
Cost of interest-bearing liabilities			2.26	%			2.24	%			2.27	%			2.42	%			2.55	%
Cost of funds			1.75	%			1.73	%			1.77	%			1.88	%			1.98	%
Net interest spread (FTE)*			2.69	%			2.62	%			2.50	%			2.41	%			2.28	%
Net interest margin (FTE)*			3.30	%			3.22	%			3.08	%			3.04	%			2.95	%
Return on average assets			1.24	%			1.11	%			1.08	%			1.14	%			1.08	%
Pre-provision net revenue to average assets*			1.64	%			1.45	%			1.36	%			1.36	%			1.30	%
Return on average equity			13.96	%			12.68	%			12.41	%			13.45	%			13.25	%
Return on average tangible equity*			15.16	%			13.80	%			13.53	%			14.73	%			14.60	%
Efficiency ratio (FTE)*			56.11	%			59.19	%			58.53	%			58.35	%			60.17	%
Expense ratio			1.38	%			1.49	%			1.36	%			1.36	%			1.39	%

		Nine months ended
		Sep. 30, 2026				Sep. 30, 2025
Basic earnings per share		$	4.18			$	3.51
Diluted earnings per share		$	4.16			$	3.50
Dividends per share		$	1.29			$	1.20
Yield on interest-earning assets (FTE)*			4.86	%			4.78	%
Cost of interest-bearing liabilities			2.26	%			2.52	%
Cost of funds			1.75	%			1.96	%
Net interest spread (FTE)*			2.60	%			2.26	%
Net interest margin (FTE)*			3.20	%			2.92	%
Return on average assets			1.14	%			1.02	%
Pre-provision net revenue to average assets*			1.49	%			1.25	%
Return on average equity			13.03	%			12.67	%
Return on average tangible equity*			14.18	%			14.00	%
Efficiency ratio (FTE)*			57.90	%			61.00	%
Expense ratio			1.41	%			1.39	%

Other financial data		At period end:
(dollars in thousands except per share data)		Sep. 30, 2026				Jun. 30, 2026				Mar. 31, 2026				Dec. 31, 2025				Sep. 30, 2025
Assets under management		$	1,161,520			$	1,219,415			$	1,096,776			$	1,058,881			$	1,037,414
Book value per share		$	42.52			$	43.54			$	42.14			$	41.39			$	39.75
Tangible book value per share*		$	39.06			$	40.08			$	38.67			$	37.88			$	36.23
Equity to assets			8.16	%			8.51	%			8.56	%			8.69	%			8.38	%
Tangible common equity ratio*			7.54	%			7.89	%			7.91	%			8.01	%			7.69	%
Allowance for credit losses on loans to:
Total loans			1.03	%			1.02	%			1.04	%			1.06	%			1.06	%
Non-accrual loans		8.72x				12.23x				8.65x				10.66x				7.78x
Non-accrual loans to total loans			0.12	%			0.08	%			0.12	%			0.10	%			0.14	%
Non-performing assets to total assets			0.08	%			0.06	%			0.09	%			0.08	%			0.11	%
Net charge-offs to average total loans			0.01	%			0.01	%			0.02	%			0.03	%			0.03	%
Capital Adequacy Ratios
Total risk-based capital ratio			14.10	%			14.29	%			14.45	%			14.78	%			14.52	%
Common equity tier 1 risk-based capital ratio			12.97	%			13.17	%			13.33	%			13.65	%			13.39	%
Tier 1 risk-based capital ratio			12.97	%			13.17	%			13.33	%			13.65	%			13.39	%
Leverage ratio			9.64	%			9.51	%			9.38	%			9.34	%			9.27	%

* Non-GAAP Financial Measures – see reconciliations below

FIDELITY D & D BANCORP, INC.
Reconciliations of Non-GAAP Financial Measures to GAAP

Reconciliations of Non-GAAP Measures to GAAP		Three Months Ended
(dollars in thousands)		Sep. 30, 2026				Jun. 30, 2026				Mar. 31, 2026				Dec. 31, 2025				Sep. 30, 2025
FTE net interest income (non-GAAP)
Interest income (GAAP)		$	33,107			$	31,717			$	30,460			$	31,084			$	30,682
Adjustment to FTE			774				777				784				800				785
Interest income adjusted to FTE (non-GAAP)			33,881				32,494				31,244				31,884				31,467
Interest expense (GAAP)			11,295				10,960				11,054				11,804				12,253
Net interest income adjusted to FTE (non-GAAP)		$	22,586			$	21,534			$	20,190			$	20,080			$	19,214
Efficiency Ratio (non-GAAP)
Non-interest expenses (GAAP)		$	16,108			$	15,992			$	15,191			$	14,921			$	14,632
Net interest income (GAAP)			21,812				20,757				19,406				19,280				18,429
Plus: taxable equivalent adjustment			774				777				784				800				785
Non-interest income (GAAP)			6,124				5,483				5,189				5,122				5,105
Plus: Loss (gain) on sales of securities			–				–				577				371				(3	)
Net interest income (FTE) plus adjusted non-interest income (non-GAAP)		$	28,710			$	27,017			$	25,956			$	25,573			$	24,316
Efficiency ratio (non-GAAP) (1)			56.11	%			59.19	%			58.53	%			58.35	%			60.17	%
(1) The reported efficiency ratio is a non-GAAP measure calculated by dividing non-interest expense by the sum of net interest income, on an FTE basis, and adjusted non-interest income.
Tangible Book Value per Share/Tangible Common Equity Ratio (non-GAAP)
Total assets (GAAP)		$	3,028,419			$	2,971,224			$	2,859,265			$	2,748,058			$	2,736,750
Less: Intangible assets			(20,076	)			(20,126	)			(20,181	)			(20,242	)			(20,303	)
Tangible assets			3,008,343				2,951,098				2,839,084				2,727,816				2,716,447
Total shareholders’ equity (GAAP)			246,984				252,905				244,652				238,860				229,247
Less: Intangible assets			(20,076	)			(20,126	)			(20,181	)			(20,242	)			(20,303	)
Tangible common equity			226,908				232,779				224,471				218,618				208,944
Common shares outstanding, end of period			5,808,508				5,808,518				5,805,180				5,771,110				5,767,288
Tangible Common Book Value per Share		$	39.06			$	40.08			$	38.67			$	37.88			$	36.23
Tangible Common Equity Ratio			7.54	%			7.89	%			7.91	%			8.01	%			7.69	%
Pre-Provision Net Revenue to Average Assets
Income before taxes (GAAP)		$	10,769			$	9,508			$	8,439			$	9,211			$	8,592
Plus: Provision for credit losses			1,059				740				965				270				310
Total pre-provision net revenue (non-GAAP)			11,828				10,248				9,404				9,481				8,902
Total (annualized) (non-GAAP)		$	46,925			$	41,103			$	38,139			$	37,615			$	35,316
Average assets		$	2,858,101			$	2,829,501			$	2,809,513			$	2,757,902			$	2,708,126
Pre-Provision Net Revenue to Average Assets (non-GAAP)			1.64	%			1.45	%			1.36	%			1.36	%			1.30	%

Reconciliations of Non-GAAP Measures to GAAP		Nine months ended
(dollars in thousands)		Sep. 30, 2026				Sep. 30, 2025
FTE net interest income (non-GAAP)
Interest income (GAAP)		$	95,284			$	88,755
Adjustment to FTE			2,335				2,316
Interest income adjusted to FTE (non-GAAP)			97,619				91,071
Interest expense (GAAP)			33,309				35,364
Net interest income adjusted to FTE (non-GAAP)		$	64,310				55,707
Efficiency Ratio (non-GAAP)
Non-interest expenses (GAAP)		$	47,291			$	43,896
Net interest income (GAAP)			61,975				53,391
Plus: taxable equivalent adjustment			2,335				2,316
Non-interest income (GAAP)			16,796				15,437
Plus: Loss on sales of securities			577				819
Net interest income (FTE) plus non-interest income (non-GAAP)		$	81,683			$	71,963
Efficiency ratio (non-GAAP) (1)			57.90	%			61.00	%
(1) The reported efficiency ratio is a non-GAAP measure calculated by dividing non-interest expense by the sum of net interest income, on an FTE basis, and adjusted non-interest (loss) income.
Pre-Provision Net Revenue to Average Assets
Income before taxes (GAAP)		$	28,716			$	23,932
Plus: Provision for credit losses			2,764				1,000
Total pre-provision net revenue (non-GAAP)		$	31,480			$	24,932
Total (annualized) (non-GAAP)		$	42,088			$	33,334
Average assets		$	2,832,550			$	2,666,723
Pre-Provision Net Revenue to Average Assets (non-GAAP)			1.49	%			1.25	%

Contacts:

Daniel J. Santaniello	Salvatore R. DeFrancesco, Jr.
President and Chief Executive Officer	Treasurer and Chief Financial Officer
570-504-8035	570-504-8000