Author: Ravi Shankar

Company initiates hardware experiments intended to integrate quantum processor characterization, circuit execution and decoding into a unified workflow, marking a key milestone in its development efforts toward real-time quantum error correction

TEL AVIV, Israel, Oct. 26, 2026 (GLOBE NEWSWIRE) — Quantum X Labs Inc. (NASDAQ: QXL) (“Quantum X Labs” or the “Company”), a quantum technology company developing advanced solutions across quantum computing, quantum error correction, quantum software, cybersecurity and quantum sensing, today announced the launch of its end-to-end Quantum Error Correction (QEC) program on the Arbel superconducting quantum processor at the Israeli Quantum Computing Center (IQCC), operated by Quantum Machines.

The Company believes the program represents an important technological milestone in its efforts to develop an integrated quantum error correction architecture designed to improve the reliability and scalability of quantum computing systems.

Quantum X Labs has initiated its first hardware experiments on the Arbel processor, establishing the foundation for a unified workflow that connects quantum device characterization, circuit execution and error decoding. By bringing these capabilities together on actual quantum computing hardware, the Company aims to advance beyond isolated error correction components toward a comprehensive system capable of identifying, processing and correcting quantum errors within a coordinated operational framework.

Quantum error correction is widely regarded as one of the critical technological challenges facing the quantum computing industry. Quantum processors are inherently sensitive to environmental interference, imperfect operations and other sources of noise that can introduce errors during computations. Overcoming these limitations is essential to the development of reliable, fault-tolerant quantum computers capable of executing increasingly complex algorithms.

Quantum X Labs’ program is designed to address this challenge through an integrated architecture connecting three essential technological layers:

Quantum Device Characterization and Calibration: Analyzing processor behavior, identifying hardware-specific noise characteristics and generating information that can support improved quantum operations.

Quantum Control and Circuit Execution: Integrating characterization data into the execution and control workflow to support more effective operation of quantum circuits on physical hardware.

Noise-Aware Quantum Error Decoding: Applying the Company’s developing quantum error correction decoder to interpret error information and identify appropriate corrections, with the objective of ultimately supporting real-time operation.

The initial experiments on the Arbel superconducting processor establish the hardware foundation for this architecture, with the next phase focused on incorporating the Company’s noise-aware decoder directly into the operational workflow.

The Company intends to develop its end-to-end quantum error correction workflow in collaboration with control-system and accelerated-computing partners, with the objective of connecting quantum hardware operations and classical computational processing into a coordinated system.

This approach is intended to address one of the fundamental requirements of fault-tolerant quantum computing: the ability to process error information rapidly enough to support quantum operations as they occur.

The Company’s development roadmap calls for progressively integrating processor characterization, quantum control and accelerated decoding capabilities, ultimately targeting a closed-loop architecture in which error information generated by the quantum processor can be analyzed and translated into corrective actions with minimal latency.

Quantum X Labs believes that quantum error correction will play an increasingly important role as the industry transitions from experimental quantum processors toward larger, more reliable and commercially useful quantum computing systems.

Rather than developing decoding algorithms solely through theoretical models and simulations, the Company’s approach emphasizes validation and integration with real quantum hardware, enabling its technologies to be evaluated against the operational characteristics and noise profiles of physical quantum processors.

The program also reflects Quantum X Labs’ broader strategy of developing technologies that can operate across different quantum computing architectures, combining quantum software, advanced algorithms, error correction and classical accelerated computing to support the emerging quantum computing ecosystem.

The Company views the launch of experiments at IQCC as an important first hardware milestone in this development effort. The initial stage does not constitute a demonstration of real-time quantum error correction or fault-tolerant quantum computation, both of which remain objectives of subsequent development phases.

About Quantum X Labs Inc.

Quantum X Labs Inc. and its subsidiaries are focused on quantum technology, digital advertising and computing and enterprise artificial intelligence (AI) solutions. Quantum X Labs Ltd. is focused on developing and promoting quantum algorithms for the transportation, drug discovery and security segments as well as developing quantum- based GPS replacement and quantum atom accuracy solutions. Gix Media develops a variety of technological software solutions, which perform automation, optimization and monetization of internet campaigns, for the purposes of acquiring and routing internet user traffic to its customers. Metagramm is a developer of grammatical error correction software and offers tools for writing and reviewing, grammar, spelling, punctuation and style features, as well as translation and multilingual dictionaries, using artificial intelligence and machine learning technology.

For more information about Quantum X Labs, visit https://quantumxlabs.xyz/

Forward-Looking Statements

This press release contains forward-looking statements within the meaning of the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995 and other Federal securities laws. Forward-looking statements contained in this press release include, but are not limited to, statements regarding Quantum X Labs’ and its subsidiaries’ strategic and business plans, technology, relationships, objectives and expectations for its business, growth, the impact of trends on and interest in its business, intellectual property, products and its future results, operations and financial performance and condition and may be identified by the use of words such as “may,” “seek,” “will,” “consider,” “likely,” “assume,” “estimate,” “expect,” “anticipate,” “intend,” “believe,” “do not believe,” “aim,” “predict,” “plan,” “project,” “continue,” “potential,” “guidance,” “objective,” “outlook,” “trends,” “future,” “could,” “would,” “should,” “target,” “on track” or their negatives or variations, and similar terminology and words of similar import, generally involve future or forward-looking statements. For example, the Company is using forward-looking statements when it discusses the objectives, development roadmap, anticipated phases and potential benefits of its end-to-end quantum error correction program, the planned integration of its noise-aware decoder and accelerated decoding capabilities, the targeted closed-loop architecture, its anticipated collaboration with control-system and accelerated-computing partners, the role of quantum error correction in the industry, the Company’s strategic direction and technological roadmap, and the Company’s ability to translate its intellectual property and research programs into commercial products, governmental programs and revenue-generating opportunities . Forward-looking statements are not historical facts, and are based upon management’s current expectations, beliefs and projections, many of which, by their nature, are inherently uncertain. Such expectations, beliefs and projections are expressed in good faith. However, there can be no assurance that management’s expectations, beliefs and projections will be achieved, and actual results may differ materially from what is expressed in or indicated by the forward-looking statements. Forward-looking statements are subject to risks and uncertainties that could cause actual performance or results to differ materially from those expressed in the forward-looking statements, including, among others, the risk that experiments do not yield expected results, the Company’s continued access to third-party quantum hardware and facilities, its ability to enter into and maintain collaborations, its ability to obtain sufficient financing, technological developments by competitors, and its ability to protect its intellectual property. For a more detailed description of the risks and uncertainties affecting the Company, reference is made to the Company’s reports filed from time to time with the Securities and Exchange Commission (“SEC”), including, but not limited to, the risks detailed in the Company’s most recent Annual Report on Form 10-K and in subsequent filings with the SEC. Forward-looking statements speak only as of the date the statements are made. The Company assumes no obligation to update forward-looking statements to reflect actual results, subsequent events or circumstances, changes in assumptions or changes in other factors affecting forward-looking information except to the extent required by applicable securities laws. If the Company does update one or more forward-looking statements, no inference should be drawn that the Company will make additional updates with respect thereto or with respect to other forward-looking statements. References and links to websites have been provided as a convenience, and the information contained on such websites is not incorporated by reference into this press release. Quantum X Labs is not responsible for the content of third-party websites.

Investor Relations Contacts:

Michal Efraty
Investor Relations
michal@efraty.com 

NEW YORK, Oct. 26, 2026 (GLOBE NEWSWIRE) — Ponce Financial Group, Inc., (the “Company”) (Nasdaq: PDLB), the holding company for Ponce Bank, National Association (“Ponce Bank” or the “Bank”), today announced results for the third quarter of 2026.

Third Quarter 2026 Highlights (Compared to Prior Periods):

• Net income available to common stockholders was $18.0 million, or $0.76 per diluted share for the three months ended September 30, 2026, as compared to net income available to common stockholders of $8.2 million, or $0.35 per diluted share for the three months ended June 30, 2026 and net income available to common stockholders of $6.2 million, or $0.27 per diluted share for the three months ended September 30, 2025. Net income for the three months ended September 30, 2026 was $18.2 million. The Company paid dividends of $0.3 million on its preferred stock during the three months ended September 30, 2026.
• Included in the $18.0 million of net income available to common stockholders for the third quarter of 2026 results is $57.5 million in total interest and dividend income, $5.9 million in benefit for income taxes and $0.9 million in non-interest income, offset by $23.5 million in interest expense, $19.2 million in non-interest expense, $3.2 million in provision for credit losses and $0.3 million in dividends on preferred shares.
• The third quarter of 2026 results include certain unusual, non-recurring items. Specifically, the benefit for income taxes includes the release of the $10.5 million valuation allowance against the Company’s New York State and New York City deferred tax assets. The $1.2 million loss on real property included in non-interest income is due to the move of our Flushing property to held for sale. Non-interest income also includes a $0.4 million gain from the Company’s investment in Oaktree and Silvergate funds.
• Net interest income of $34.0 million for the third quarter of 2026 increased $3.9 million, or 13.07%, from the prior quarter and increased $8.7 million, or 34.62%, from the same quarter last year. Interest income for the quarter includes $0.8 million from a satisfied, former non-accrual loan. 
• Net interest margin was 3.86% for the third quarter of 2026, versus 3.66% for the prior quarter and 3.30% for the same quarter last year.

Nine Months 2026 Highlights (Compared to 2025)

• Net income available to common stockholders was $34.5 million, or $1.47 per diluted share for the nine months ended September 30, 2026, as compared to net income available to common stockholders of $17.7 million, or $0.77
  per diluted share for the nine months ended September 30, 2025. Net income for the nine months ended September 30, 2026 and 2025 was $35.4 million and $18.6 million, respectively. The Company paid dividends of $0.8 million on its preferred stock during both the nine months ended September 30, 2026 and 2025.
• Net interest income for the nine months ended September 30, 2026 was $92.3 million, an increase of $20.4 million, or 28.38%, compared to $71.9 million for the nine months ended September 30, 2025.
• Non-interest income for the nine months ended September 30, 2026 was $4.4 million, a decrease of $1.5 million, or 25.52%, from $5.9 million for the nine months ended September 30, 2025.
• Non-interest expense for the nine months ended September 30, 2026 was $54.6 million, an increase of $4.2 million, or 8.41%, compared to $50.4 million for the nine months ended September 30, 2025.
• Cash and equivalents were $132.2 million as of September 30, 2026, an increase of $6.1 million, or 4.80%, from $126.2 million as of December 31, 2025.
• Securities totaled $320.7 million as of September 30, 2026, a decrease of $44.5 million, or 12.19%, from $365.2 million as of December 31, 2025 primarily due to regular principal payments and the maturity of one available-for-sale security in the amount of $3.0 million.
• Net loans receivable were $3.08 billion as of September 30, 2026, an increase of $481.8 million, or 18.54%, from $2.60 billion as of December 31, 2025.
• Deposits were $2.37 billion as of September 30, 2026, an increase of $321.1 million, or 15.69%, from $2.05 billion as of December 31, 2025.

President and Chief Executive Officer’s Comments

Carlos P. Naudon, Ponce Financial Group, Inc.’s President and CEO, stated “Ponce continues to show strong results and deliver shareholder value. While the quarter includes some non-recurring items, our performance was robust even before accounting for those one-time events. Book value per share stands at $14.60, representing a $1.90 increase over the last twelve months. Furthermore, our net interest income continues to benefit from disciplined pricing and growth in earning assets, while non-performing assets decreased during the quarter to 50 basis points. Our capital position remains exceptionally strong and well in excess of regulatory requirements. We remain deeply committed to the communities we serve, and we will continue investing in both our people and technology to drive further operational efficiency.”

Executive Chairman’s Comment

Steven A. Tsavaris, Ponce Financial Group’s Executive Chairman added “We are pleased with our robust business activity during the quarter. As previously reported, we filed our second-quarter Quarterly Supplemental Report (QSR), which marks 16 consecutive quarters of deep impact lending above the 60% required threshold to repurchase our Preferred Stock. The U.S. Department of the Treasury has confirmed that the Company met this deep impact threshold. Consequently, we are actively collaborating with Treasury and its legal counsel to finalize the next steps for the Preferred Stock repurchase.”  

ECIP

The consummation of any such repurchase of our Preferred Stock is subject to the satisfaction of additional conditions, including satisfying certain eligibility criteria. Although the Company currently expects that it will satisfy all other necessary conditions, there can be no assurance if and when such repurchase will be consummated with Treasury.  

The table below indicates the Key Metrics at or for the three months ended:

	At or for the Three Months Ended
	September 30,				June 30,				March 31,				December 31,				September 30,
	2026				2026				2026				2025				2025
Performance Ratios:
Return on average assets (1)		1.99	%			1.00	%			1.07	%			1.26	%			0.82	%
Return on common equity (1)		20.18	%			9.81	%			10.37	%			12.50	%			8.10	%
Net interest margin (1) (2)		3.86	%			3.66	%			3.61	%			3.57	%			3.30	%
Non-interest expense to average assets (1)		2.13	%			2.14	%			2.14	%			2.06	%			2.10	%
Efficiency ratio (3)		55.21	%			57.41	%			56.96	%			52.95	%			62.15	%
Capital Ratios:
Total capital to risk-weighted assets (Ponce Financial Group)		18.66	%			20.00	%			21.23	%			23.00	%			24.08	%
Common equity Tier 1 capital to risk-weighted assets (Ponce Financial Group)		10.93	%			11.51	%			12.11	%			12.98	%			13.39	%
Tier 1 capital to total assets (Ponce Financial Group)		16.46	%			16.85	%			17.22	%			17.27	%			17.33	%
Total capital to risk-weighted assets (Bank only)		16.98	%			18.88	%			20.00	%			21.63	%			21.79	%
Common equity Tier 1 capital to risk-weighted assets (Bank only)		15.98	%			17.87	%			18.97	%			20.53	%			20.66	%
Tier 1 capital to total assets (Bank only)		14.85	%			15.81	%			16.09	%			16.12	%			16.08	%
Asset Quality Ratios:
Allowance for credit losses on loans as a percentage of total loans		0.94	%			0.95	%			0.96	%			0.97	%			0.98	%
Allowance for credit losses on loans as a percentage of nonperforming loans		156.85	%			116.91	%			128.93	%			94.74	%			88.88	%
Net (charge-offs) recoveries to average outstanding loans (1)		(0.05	%)			(0.05	%)			(0.08	%)			(0.13	%)			(0.03	%)
Non-performing assets as a percentage of total assets		0.50	%			0.67	%			0.62	%			0.83	%			0.88	%
Other:
Number of offices		17				17				17				17				18
Number of full-time equivalent employees		236				229				218				216				209

(1)	Annualized.
(2)	Net interest margin represents net interest income divided by average total interest-earning assets.
(3)	Efficiency ratio represents noninterest expense divided by the sum of net interest income and noninterest income.

Summary of Results of Operations

Net income for the three months ended September 30, 2026 was $18.2 million, increased $9.8 million, or 114.82%, compared to net income of $8.5 million for the three months ended June 30, 2026 and increased $11.7 million or 180.41% compared to net income of $6.5 million for the three months ended September 30, 2025.

The $9.8 million increase of net income for the three months ended September 30, 2026 compared to the three months ended June 30, 2026 was attributed mainly to an increase of $3.9 million in net interest income and $8.7 million in benefit for income taxes, offset by increases of $1.1 million in non-interest expense, $1.1 million in provision for credit losses and a decrease of $0.7 million in non-interest income.

The $11.7 million increase of net income for the three months ended September 30, 2026 compared to the three months ended September 30, 2025 was largely due to an increase of $8.7 million in net interest income and $8.1 million in benefit for income taxes, offset by increases of $2.6 million in non-interest expense and $1.9 million in provision for credit losses and a decrease of $0.6 million in non-interest income largely due to a $1.2 million loss on real property.

Net income for the nine months ended September 30, 2026 was $35.4 million, increased $16.8 million, or 90.48%, compared to net income of $18.6 million for the nine months ended September 30, 2025. The $16.8 million increase in net income was attributed mainly to an increase of $20.4 million in net interest income and $6.5 million in benefit for income taxes, offset by increases of $4.3 million in provision for credit losses and $4.2 million in non-interest expense and a decrease of $1.5 million in non-interest income largely due to a $1.2 million loss on real property.

Net Interest Income and Net Interest Margin

Net interest income for the three months ended September 30, 2026, increased $3.9 million, or 13.07%, to $34.0 million compared to $30.1 million for the three months ended June 30, 2026 and increased $8.7 million, or 34.62%, compared to $25.2 million for the three months ended September 30, 2025.

The $3.9 million increase in net interest income from the three months ended June 30, 2026 was attributable to an increase of $5.9 million in total interest and dividend income, offset by an increase of $1.9 million in total interest expense. The $8.7 million increase in net interest income from the three months ended September 30, 2025 was attributable to an increase of $10.7 million in total interest and dividend income, offset by an increase of $1.9 million in total interest expense.

Net interest income for the nine months ended September 30, 2026, increased $20.4 million, or 28.38%, to $92.3 million compared to $71.9 million for the nine months ended September 30, 2025. The $20.4 million increase in net interest income from the nine months ended September 30, 2025 was attributable to an increase of $21.1 million in total interest and dividend income, offset by an increase of $0.7 million in total interest expense.

Net interest margin was 3.86% for the three months ended September 30, 2026 compared to 3.66% for the prior quarter, an increase of 20bps and 3.30% for the same period last year, an increase of 56bps.

Net interest margin was 3.72% for the nine months ended September 30, 2026 compared to 3.18% for the nine months ended September 30, 2025, an increase of 54bps.

Non-interest Income

Non-interest income for the three months ended September 30, 2026, was $0.9 million, decreased $0.7 million, or 44.34%, compared to $1.5 million for the three months ended June 30, 2026, and decreased $0.6 million, or 43.03%, compared to $1.5 million for the three months ended September 30, 2025.

The $0.7 million decrease in non-interest income from the three months ended June 30, 2026 was largely attributable to a $1.2 million loss on real property, offset by an increase of $0.4 million in other non-interest income.

The $0.6 million decrease in non-interest income from the three months ended September 30, 2025 was largely attributable to a loss of $1.2 million on real property recognized in the third quarter of 2026, $0.4 million in grant income recognized in the third quarter of 2025 and a decrease of $0.2 million in late and prepayment charges, offset by an increase of $1.0 million in other non-interest income.

Non-interest income for the nine months ended September 30, 2026, was $4.4 million, a decrease of $1.5 million, or 25.52%, compared to $5.9 million for the nine months ended September 30, 2025. The $1.5 million decrease in non-interest income from the nine months ended September 30, 2025 was largely attributable to $1.2 million loss on real property, $0.8 million in grant income that was recognized during the nine months ended September 30, 2025, decreases of $0.5 million in late and prepayment charges and $0.4 million in income on sale of SBA loans, offset by increases of $1.3 million in other non-interest income and $0.2 million in service charges and fees.

Non-interest Expense

Non-interest expense for the three months ended September 30, 2026 was $19.2 million, increased $1.1 million, or 6.07%, compared to $18.1 million for the three months ended June 30, 2026 and increased $2.6 million, or 15.75%, compared to $16.6 million for the three months ended September 30, 2025.

The $1.1 million increase in non-interest expense from the three months ended June 30, 2026 was mainly attributable to an increase of $1.4 million in compensation and benefits as a result of new hires, partially offset by a decrease of $0.2 million in professional fees.

The $2.6 million increase in non-interest expense from the three months ended September 30, 2025 was mainly attributable to an increase of $2.6 million in compensation and benefits as a result of new hires.

Non-interest expense for the nine months ended September 30, 2026 was $54.6 million, increased $4.2 million, or 8.41%, compared to $50.4 million for the nine months ended September 30, 2025. The $4.2 million increase in non-interest expense from the nine months ended September 30, 2025 was mainly attributable to an increase of $5.0 million in compensation and benefits as a result of new hires, partially offset by decreases of $0.4 million in direct loan expenses, $0.3 million in occupancy and equipment and $0.1 million in other non-interest expense.

Credit Quality:

Total non-performing assets and accruing modifications to borrowers experiencing financial difficulty were $21.8 million at September 30, 2026 compared to $26.8 million at June 30, 2026 and $32.4 million at September 30, 2025.

During the three months ended September 30, 2026, a credit loss provision of $3.2 million on loans was recorded, consisting of $2.0 million charged on the funded portion and $1.2 million charged on the unfunded portion on loans. During the three months ended June 30, 2026, a credit loss provision of $2.1 million on loans was recorded, consisting of $1.7 million charged on the funded portion and $0.4 million charged on the unfunded portion on loans. During the three months ended September 30, 2025, a credit loss provision of $1.4 million on loans was recorded, consisting of $0.9 million charged on the funded portion on loans and $0.5 million charged on the unfunded portion on loans.

During the nine months ended September 30, 2026, a credit loss provision of $7.0 million on loans was recorded, consisting of $4.9 million charged on the funded portion and $2.1 million charged on the unfunded portion on loans. During the nine months ended September 30, 2025, a credit loss provision of $2.7 million on loans was recorded, consisting of $2.9 million charged on the funded portion on loans and a $0.2 million benefit on the unfunded portion on loans.

Balance Sheet Summary

Total assets increased $462.7 million, or 14.35%, to $3.69 billion as of September 30, 2026 from $3.22 billion as of December 31, 2025. The increase in total assets is largely attributable to increases of $481.8 million in net loans receivable, $14.3 million in deferred tax assets, $6.1 million in cash and cash equivalents, $4.8 million in Federal Home Loan Bank of New York stock, $3.7 million in accrued interest receivable and $2.2 million in other assets, partially offset by decreases of $31.8 million in held-to-maturity securities, $12.7 million in available-for-sale securities, $4.7 million in premises and equipment, net, and $1.3 million in right of use assets. The $4.7 million decrease in premises and equipment, net was largely attributable to $1.8 million of real property that was reclassified to held for sale and is reflected in other assets in the Consolidated Statements of Financial Condition and a $1.2 million loss on real property that is reflected in total non-interest income in the Consolidated Statements of Operations.

Total liabilities increased $426.0 million, or 15.88%, to $3.11 billion as of September 30, 2026 from $2.68 billion as of December 31, 2025. The increase in total liabilities was largely attributable to increases of $321.1 million in deposits, $100.0 million in borrowings and $6.0 million in other liabilities, partially offset by a decrease of $1.2 million in operating lease liabilities.

Total stockholders’ equity increased $36.7 million, or 6.78%, to $578.3 million as of September 30, 2026, from $541.5 million as of December 31, 2025. The $36.7 million increase in stockholders’ equity was largely attributable to $35.4 million in net income, $1.9 million impact to additional paid in capital as a result of share-based compensation, $1.9 million from release of ESOP shares and $0.2 million from exercise of stock options, offset by $1.8 million in other comprehensive loss and $0.8 million related to the dividend paid on preferred shares during the nine months ended September 30, 2026.

About Ponce Financial Group, Inc.

Ponce Financial Group, Inc. is the holding company for Ponce Bank, N.A. Ponce Bank, N.A. is a Minority Depository Institution, a Community Development Financial Institution, and a certified Small Business Administration lender. Ponce Bank, N.A.’s business primarily consists of taking deposits from the general public and to a lesser extent alternative funding sources and investing those funds, together with funds generated from operations and borrowings, in mortgage loans, consisting of 1-4 family residences (investor-owned and owner-occupied), multifamily residences, nonresidential properties, construction and land, and, to a lesser extent, in business and consumer loans. Ponce Bank, N.A. also invests in securities, which consist of U.S. Government and federal agency securities and securities issued by government-sponsored or government-owned enterprises, as well as, mortgage-backed securities, corporate bonds and obligations, Federal Home Loan Bank stock and Federal Reserve Bank stock.

Forward Looking Statements

Certain statements herein constitute forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Exchange Act and are intended to be covered by the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Such statements may be identified by words such as “believes,” “will,” “would,” “expects,” “project,” “may,” “could,” “developments,” “strategic,” “launching,” “opportunities,” “anticipates,” “estimates,” “intends,” “plans,” “targets” and similar expressions. These statements are based upon the current beliefs and expectations of management and are subject to significant risks and uncertainties. Actual results may differ materially from those set forth in the forward-looking statements as a result of numerous factors. Factors that could cause such differences to exist include, but are not limited to, adverse conditions in the capital and debt markets and the impact of such conditions on business activities; changes in interest rates; competitive pressures from other financial institutions; the effects of general economic conditions on a national basis or in the local markets in which Ponce Bank, N.A. operates, including changes that adversely affect borrowers’ ability to service and repay Ponce Bank, N.A.’s loans; changes in U.S. trade policies, including the imposition of tariffs and retaliatory tariffs, and their related impacts on the economy; changes in the global economy, including negative changes that may arise from armed conflict and geopolitical instability; changes in the value of securities in the investment portfolio; changes in loan default and charge-off rates; fluctuations in real estate values; the adequacy of loan loss reserves; decreases in deposit levels necessitating increased borrowing to fund loans and investments; operational risks including, but not limited to, cybersecurity, fraud and natural disasters; changes in government regulation; changes in accounting standards and practices; the risk that intangibles recorded in the financial statements will become impaired; demand for loans in Ponce Bank, N.A.’s market area; Ponce Bank, N.A.’s ability to attract and maintain deposits; risks related to the implementation of acquisitions, dispositions, and restructurings; the risk that Ponce Financial Group, Inc. may not be successful in the implementation of its business strategy; the risk that the repurchase of Ponce Financial Group, Inc.’s Preferred Stock issued under the ECIP may not be consummated on the anticipated timeline, on the anticipated terms, or at all; changes in assumptions used in making such forward-looking statements and the risk factors described in Ponce Financial Group, Inc.’s Annual Report on Form 10-K and Quarterly Reports on Form 10-Q as filed with the Securities and Exchange Commission (the “SEC”), which are available at the SEC’s website, www.sec.gov. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this release. Ponce Financial Group, Inc. disclaims any obligation to publicly update or revise any forward-looking statements to reflect changes in underlying assumptions or factors, new information, future events or other changes, except as may be required by applicable law or regulation.

Ponce Financial Group, Inc. and Subsidiaries Consolidated Statements of Financial Condition (Dollars in thousands, except for share data)
	As of
	September 30,				June 30,				March 31,				December 31,				September 30,
	2026				2026				2026				2025				2025
ASSETS
Cash and due from banks:
Cash	$	27,725			$	25,567			$	27,429			$	28,511			$	29,296
Interest-bearing deposits		104,486				114,443				89,817				97,643				117,283
Total cash and cash equivalents		132,211				140,010				117,246				126,154				146,579
Available-for-sale securities, at fair value		79,475				84,774				87,150				92,196				94,822
Held-to-maturity securities, at amortized cost		241,176				253,616				263,514				272,982				285,125
Placement with banks		249				249				249				249				249
Mortgage loans held for sale, at fair value		3,701				3,050				2,127				3,388				5,794
Loans receivable, net		3,081,101				2,879,740				2,698,649				2,599,258				2,490,046
Accrued interest receivable		21,624				19,939				19,274				17,905				18,903
Premises and equipment, net		10,924				14,645				15,159				15,638				16,129
Right of use assets		26,331				27,055				27,633				27,583				28,295
Federal Home Loan Bank of New York stock (FHLBNY), at cost		34,064				30,689				28,180				29,309				25,945
Federal Reserve Bank of New York stock (FRBNY), at cost		10,725				10,714				10,706				10,698				—
Deferred tax assets		25,770				12,979				11,729				11,501				12,402
Other assets		19,326				17,251				19,141				17,109				32,790
Total assets	$	3,686,677			$	3,494,711			$	3,300,757			$	3,223,970			$	3,157,079
LIABILITIES AND STOCKHOLDERS’ EQUITY
Liabilities:
Deposits	$	2,367,708			$	2,271,809			$	2,133,795			$	2,046,635			$	2,063,081
Borrowings		696,100				621,100				571,100				596,100				521,100
Operating lease liabilities		28,171				28,874				29,429				29,353				30,028
Accrued interest payable		3,862				3,837				4,338				3,788				4,372
Other liabilities		12,576				8,121				10,732				6,545				8,663
Total liabilities		3,108,417				2,933,741				2,749,394				2,682,421				2,627,244
Commitments and contingencies
Stockholders’ Equity:
Preferred stock, $0.01 par value; 100,000,000 shares authorized		225,000				225,000				225,000				225,000				225,000
Common stock, $0.01 par value; 200,000,000 shares authorized		249				249				249				249				249
Treasury stock, at cost		(5,738	)			(5,738	)			(5,738	)			(6,164	)			(7,270	)
Additional paid-in-capital		211,317				210,339				209,219				208,604				208,909
Retained earnings		169,855				151,887				143,674				135,332				125,477
Accumulated other comprehensive loss		(12,645	)			(10,698	)			(10,680	)			(10,820	)			(11,586	)
Unearned compensation ─ ESOP		(9,778	)			(10,069	)			(10,361	)			(10,652	)			(10,944	)
Total stockholders’ equity		578,260				560,970				551,363				541,549				529,835
Total liabilities and stockholders’ equity	$	3,686,677			$	3,494,711			$	3,300,757			$	3,223,970			$	3,157,079

Ponce Financial Group, Inc. and Subsidiaries Consolidated Statements of Operations (Dollars in thousands, except per share data)
	Three Months Ended
	September 30,				June 30,				March 31,				December 31,				September 30,
	2026				2026				2026				2025				2025
Interest and dividend income:
Interest on loans receivable	$	52,910			$	46,835			$	43,982			$	43,599			$	41,486
Interest on deposits due from banks		901				954				770				1,209				978
Interest and dividend on securities and FHLBNY stock		3,693				3,863				3,910				4,013				4,383
Total interest and dividend income		57,504				51,652				48,662				48,821				46,847
Interest expense:
Interest on certificates of deposit		7,313				6,785				6,415				6,706				6,553
Interest on other deposits		10,430				9,544				8,630				9,106				9,996
Interest on borrowings		5,772				5,262				5,391				5,075				5,050
Total interest expense		23,515				21,591				20,436				20,887				21,599
Net interest income		33,989				30,061				28,226				27,934				25,248
Provision for credit losses		3,219				2,148				1,656				1,078				1,364
Net interest income after provision for credit losses		30,770				27,913				26,570				26,856				23,884
Non-interest income:
Service charges and fees		611				600				539				542				539
Brokerage commissions		—				—				—				23				8
Late and prepayment charges		232				138				726				1,173				385
Income on sale of mortgage loans		188				161				120				139				166
Grant income		—				—				—				428				429
Loss on real property		(1,166	)			—				—				—				—
Other		985				628				657				1,174				(35	)
Total non-interest income		850				1,527				2,042				3,479				1,492
Non-interest expense:
Compensation and benefits		10,509				9,070				8,663				8,113				7,868
Occupancy and equipment		3,879				3,901				3,672				4,033				3,934
Data processing expenses		1,202				1,195				1,219				1,223				1,296
Direct loan expenses		89				187				121				116				155
Insurance and surety bond premiums		332				332				333				324				318
Office supplies, telephone and postage		147				152				193				186				170
Professional fees		1,305				1,470				1,346				1,392				1,409
Marketing and promotional expenses		144				190				228				94				184
Federal deposit insurance and regulatory assessment		495				408				409				97				266
Other operating expenses		1,134				1,230				1,056				1,056				1,018
Total non-interest expense		19,236				18,135				17,240				16,634				16,618
Income before income taxes		12,384				11,305				11,372				13,701				8,758
(Benefit) provision for income taxes		(5,865	)			2,810				2,749				3,565				2,250
Net income	$	18,249			$	8,495			$	8,623			$	10,136			$	6,508
Dividends on preferred shares		281				282				281				281				281
Net income available to common stockholders	$	17,968			$	8,213			$	8,342			$	9,855			$	6,227
Earnings per common share:
Basic	$	0.78			$	0.36			$	0.36			$	0.43			$	0.27
Diluted	$	0.76			$	0.35			$	0.36			$	0.42			$	0.27
Weighted average common shares outstanding:
Basic		23,086,892				23,053,460				22,988,317				22,837,044				22,766,195
Diluted		23,650,370				23,508,153				23,331,314				23,263,708				23,135,448

Ponce Financial Group, Inc. and Subsidiaries Consolidated Statements of Operations (Dollars in thousands, except per share data)
		For the Nine Months Ended September 30,
		2026				2025				Variance $				Variance %
Interest and dividend income:
Interest on loans receivable		$	143,727			$	118,913			$	24,814				20.87	%
Interest on deposits due from banks			2,625				3,453				(828	)			(23.98	%)
Interest and dividend on securities and FHLBNY stock			11,466				14,338				(2,872	)			(20.03	%)
Total interest and dividend income			157,818				136,704				21,114				15.45	%
Interest expense:
Interest on certificates of deposit			20,513				21,689				(1,176	)			(5.42	%)
Interest on other deposits			28,604				27,608				996				3.61	%
Interest on borrowings			16,425				15,530				895				5.76	%
Total interest expense			65,542				64,827				715				1.10	%
Net interest income			92,276				71,877				20,399				28.38	%
Provision for credit losses			7,023				2,705				4,318				159.63	%
Net interest income after provision for credit losses			85,253				69,172				16,081				23.25	%
Non-interest income:
Service charges and fees			1,750				1,575				175				11.11	%
Brokerage commissions			—				12				(12	)			(100.00	%)
Late and prepayment charges			1,096				1,612				(516	)			(32.01	%)
Income on sale of mortgage loans			469				483				(14	)			(2.90	%)
Income on sale of SBA loans			—				404				(404	)			(100.00	%)
Grant income			—				857				(857	)			(100.00	%)
Loss on real property			(1,166	)			—				(1,166	)			—	%
Other			2,270				990				1,280				129.29	%
Total non-interest income			4,419				5,933				(1,514	)			(25.52	%)
Non-interest expense:
Compensation and benefits			28,242				23,275				4,967				21.34	%
Occupancy and equipment			11,452				11,754				(302	)			(2.57	%)
Data processing expenses			3,616				3,636				(20	)			(0.55	%)
Direct loan expenses			397				784				(387	)			(49.36	%)
Insurance and surety bond premiums			997				930				67				7.20	%
Office supplies, telephone and postage			492				514				(22	)			(4.28	%)
Professional fees			4,121				4,140				(19	)			(0.46	%)
Marketing and promotional expenses			562				533				29				5.44	%
Federal deposit insurance and regulatory assessments			1,312				1,273				39				3.06	%
Other operating expenses			3,420				3,536				(116	)			(3.28	%)
Total non-interest expense			54,611				50,375				4,236				8.41	%
Income before income taxes			35,061				24,730				10,331				41.78	%
(Benefit) provision for income taxes			(306	)			6,163				(6,469	)			(104.97	%)
Net income		$	35,367			$	18,567			$	16,800				90.48	%
Dividends on preferred shares			844				844				—				—	%
Net income available to common stockholders		$	34,523			$	17,723			$	16,800				94.79	%
Earnings per common share:
Basic		$	1.50			$	0.78			$	0.72				92.31	%
Diluted		$	1.47			$	0.77			$	0.70				90.91	%
Weighted average common shares outstanding:
Basic			23,043,250				22,715,620				327,630				1.44	%
Diluted			23,496,728				22,992,655				504,073				2.19	%

Ponce Financial Group, Inc. and Subsidiaries Loans Receivable excluding Mortgage Loans Held for Sale
		As of
		September 30,								June 30,								March 31,								December 31,								September 30,
		2026								2026								2026								2025								2025
		Amount				Percent				Amount				Percent				Amount				Percent				Amount				Percent				Amount				Percent
		(Dollars in thousands)
Mortgage loans:
1-4 family residential		$	413,064				13.26	%		$	426,343				14.65	%		$	431,377				15.82	%		$	434,374				16.54	%		$	444,602				17.67	%
Multifamily residential			1,051,642				33.76	%			1,057,612				36.35	%			915,333				33.58	%			756,542				28.83	%			688,574				27.39	%
Nonresidential properties			557,449				17.89	%			535,521				18.41	%			534,256				19.60	%			526,210				20.05	%			436,175				17.35	%
Construction and land			1,016,809				32.64	%			817,151				28.08	%			763,990				28.03	%			854,096				32.54	%			886,369				35.25	%
Total mortgage loans			3,038,964				97.55	%			2,836,627				97.49	%			2,644,956				97.03	%			2,571,222				97.96	%			2,455,720				97.66	%
Non-mortgage loans:
Business loans			75,852				2.43	%			72,438				2.49	%			80,366				2.95	%			53,063				2.02	%			58,012				2.31	%
Consumer loans			581				0.02	%			577				0.02	%			596				0.02	%			625				0.02	%			727				0.03	%
Total non-mortgage loans			76,433				2.45	%			73,015				2.51	%			80,962				2.97	%			53,688				2.04	%			58,739				2.34	%
Total loans, gross			3,115,397				100.00	%			2,909,642				100.00	%			2,725,918				100.00	%			2,624,910				100.00	%			2,514,459				100.00	%
Net deferred loan origination fees			(5,128	)							(2,348	)							(1,031	)							(203	)							351
Allowance for credit losses on loans			(29,168	)							(27,554	)							(26,238	)							(25,449	)							(24,764	)
Loans, net		$	3,081,101							$	2,879,740							$	2,698,649							$	2,599,258							$	2,490,046

Ponce Financial Group, Inc. and Subsidiaries Allowance for Credit Losses on Loans
	For the Three Months Ended
	September 30,				June 30,				March 31,				December 31,				September 30,
	2026				2026				2026				2025				2025
	(Dollars in thousands)
Allowance for credit losses on loans at beginning of the period	$	27,554			$	26,238			$	25,449			$	24,764			$	24,100
Provision for credit losses on loans		1,996				1,669				1,293				1,526				864
Charge-offs:
Mortgage loans:
1-4 family residential		(5	)			—				—				(32	)			—
Multifamily residences		(65	)			—				—				—				—
Non-mortgage loans:
Business		(317	)			(354	)			(504	)			(801	)			(200	)
Consumer		—				—				—				(44	)			—
Total charge-offs		(387	)			(354	)			(504	)			(877	)			(200	)
Recoveries:
Mortgage loans:
1-4 family residential		—				1				—				1				—
Non-mortgage loans:
Business		5				—				—				35				—
Total recoveries		5				1				—				36				—
Net (charge-offs) recoveries		(382	)			(353	)			(504	)			(841	)			(200	)
Allowance for credit losses on loans at end of the period	$	29,168			$	27,554			$	26,238			$	25,449			$	24,764

Ponce Financial Group, Inc. and Subsidiaries Deposits
		As of
		September 30,								June 30,								March 31,								December 31,								September 30,
		2026								2026								2026								2025								2025
		Amount				Percent				Amount				Percent				Amount				Percent				Amount				Percent				Amount				Percent
		(Dollars in thousands)
Demand		$	244,860				10.34	%		$	251,919				11.10	%		$	241,012				11.29	%		$	208,250				10.18	%		$	192,595				9.34	%
Interest-bearing deposits:
NOW/IOLA accounts			76,392				3.23	%			71,987				3.17	%			78,192				3.66	%			84,012				4.10	%			75,051				3.64	%
Money market accounts			898,719				37.96	%			929,002				40.89	%			811,982				38.05	%			779,532				38.09	%			821,844				39.84	%
Reciprocal deposits			188,016				7.94	%			164,883				7.26	%			162,926				7.64	%			152,630				7.46	%			154,548				7.49	%
Savings accounts			118,727				5.01	%			115,233				5.07	%			118,373				5.55	%			117,708				5.75	%			117,401				5.69	%
Total NOW, money market, reciprocal and savings accounts			1,281,854				54.14	%			1,281,105				56.39	%			1,171,473				54.90	%			1,133,882				55.40	%			1,168,844				56.66	%
Certificates of deposit of $250K or more			202,702				8.56	%			194,462				8.56	%			258,093				12.10	%			202,500				9.89	%			209,819				10.17	%
Brokered certificates of deposit (1)			144,569				6.11	%			94,557				4.16	%			54,553				2.56	%			67,942				3.32	%			67,952				3.29	%
Listing service deposits (1)			994				0.04	%			994				0.04	%			1,243				0.06	%			4,150				0.20	%			4,150				0.20	%
All other certificates of deposit less than $250K			492,729				20.81	%			448,772				19.75	%			407,421				19.09	%			429,911				21.01	%			419,721				20.34	%
Total certificates of deposit			840,994				35.52	%			738,785				32.51	%			721,310				33.81	%			704,503				34.42	%			701,642				34.00	%
Total interest-bearing deposits			2,122,848				89.66	%			2,019,890				88.90	%			1,892,783				88.71	%			1,838,385				89.82	%			1,870,486				90.66	%
Total deposits		$	2,367,708				100.00	%		$	2,271,809				100.00	%		$	2,133,795				100.00	%		$	2,046,635				100.00	%		$	2,063,081				100.00	%

(1)	At September 30, 2026, June 30, 2026, March 31, 2026, December 31, 2025 and September 30, 2025, there were no individual listing service deposits amounting to $250,000 or more, and no individual brokered certificates of deposits amounting to $250,000 or more.

Ponce Financial Group, Inc. and Subsidiaries Nonperforming Assets
	As of
	September 30,				June 30,				March 31,				December 31,				September 30,
	2026				2026				2026				2025				2025
	(Dollars in thousands)
Non-accrual loans:
Mortgage loans:
1-4 family residential	$	2,767			$	5,843			$	3,158			$	4,427			$	3,176
Multifamily residential		11,100				12,133				9,228				13,112				14,202
Nonresidential properties		—				—				—				—				—
Construction and land		4,100				5,040				7,061				8,247				8,907
Non-mortgage loans:
Business		146				77				427				667				880
Consumer		—				—				—				—				—
Total non-accrual loans (not including non-accruing modifications to borrowers experiencing financial difficulty) (1)	$	18,113			$	23,093			$	19,874			$	26,453			$	27,165
Non-accruing modifications to borrowers experiencing financial difficulty (1):
Mortgage loans:
1-4 family residential		483				475				477				410				698
Total non-accruing modifications to borrowers experiencing financial difficulty (1)		483				475				477				410				698
Total non-performing assets (2)	$	18,596			$	23,568			$	20,351			$	26,863			$	27,863
Accruing modifications to borrowers experiencing financial difficulty (1):
Mortgage loans:
1-4 family residential		2,431				2,456				2,481				2,574				3,725
Nonresidential properties		598				618				613				621				629
Non-mortgage loans:
Business		168				175				185				190				196
Total accruing modifications to borrowers experiencing financial difficulty (1)	$	3,197			$	3,249			$	3,279			$	3,385			$	4,550
Total non-performing assets and accruing modifications to borrowers experiencing financial difficulty (1)	$	21,793			$	26,817			$	23,630			$	30,248			$	32,413
Total non-performing assets to total assets		0.50	%			0.67	%			0.62	%			0.83	%			0.88	%

(1)	Balances include both modifications to borrowers experiencing financial difficulty, in accordance with ASU 2022-02 adopted on January 1, 2023, and previously existing troubled debt restructurings.
(2)	Includes nonperforming mortgage loans held for sale.

Ponce Financial Group, Inc. and Subsidiaries Average Balance Sheets
	For the Three Months Ended September 30,
	2026											2025
	Average											Average
	Outstanding								Average			Outstanding								Average
	Balance				Interest				Yield/Rate (1)			Balance				Interest				Yield/Rate (1)
	(Dollars in thousands)
Interest-earning assets:
Loans (2)	$	3,025,085			$	52,910			6.94	%		$	2,499,268			$	41,486			6.59	%
Securities (3)		332,919				3,067			3.65	%			418,513				3,913			3.71	%
Other (4)		133,827				1,527			4.53	%			119,262				1,448			4.82	%
Total interest-earning assets		3,491,831				57,504			6.53	%			3,037,043				46,847			6.12	%
Non-interest-earning assets		97,667											96,095
Total assets	$	3,589,498										$	3,133,138
Interest-bearing liabilities:
NOW/IOLA	$	76,801			$	145			0.75	%		$	78,526			$	137			0.69	%
Money market		1,109,784				10,254			3.67	%			958,277				9,831			4.07	%
Savings		119,109				31			0.10	%			119,159				28			0.09	%
Certificates of deposit		794,477				7,313			3.65	%			698,019				6,553			3.72	%
Total deposits		2,100,171				17,743			3.35	%			1,853,981				16,549			3.54	%
Borrowings		624,361				5,772			3.67	%			521,100				5,050			3.84	%
Total interest-bearing liabilities		2,724,532				23,515			3.42	%			2,375,081				21,599			3.61	%
Non-interest-bearing liabilities:
Non-interest-bearing demand		251,823				—							199,922				—
Other non-interest-bearing liabilities		43,730				—							31,406				—
Total non-interest-bearing liabilities		295,553				—							231,328				—
Total liabilities		3,020,085				23,515							2,606,409				21,599
Total equity		569,413											526,729
Total liabilities and total equity	$	3,589,498							3.42	%		$	3,133,138							3.61	%
Net interest income					$	33,989										$	25,248
Net interest rate spread (5)									3.11	%										2.51	%
Net interest-earning assets (6)	$	767,299										$	661,962
Net interest margin (7)									3.86	%										3.30	%
Average interest-earning assets to interest-bearing liabilities									128.16	%										127.87	%

(1)	Annualized where appropriate.
(2)	Loans include loans and mortgage loans held for sale, at fair value.
(3)	Securities include available-for-sale securities and held-to-maturity securities.
(4)	Includes FHLBNY demand account, FHLBNY stock dividends and FRBNY demand deposits.
(5)	Net interest rate spread represents the difference between the weighted average yield on interest-earning assets and the weighted average rate of interest-bearing liabilities.
(6)	Net interest-earning assets represent total interest-earning assets less total interest-bearing liabilities.
(7)	Net interest margin represents net interest income divided by average total interest-earning assets.

Ponce Financial Group, Inc. and Subsidiaries Average Balance Sheets
	For the Nine Months Ended September 30,
	2026												2025
	Average												Average
	Outstanding								Average				Outstanding								Average
	Balance				Interest				Yield/Rate (1)				Balance				Interest				Yield/Rate (1)
	(Dollars in thousands)
Interest-earning assets:
Loans (2)	$	2,836,725			$	143,727				6.77	%		$	2,439,280			$	118,913				6.52	%
Securities (3)		346,223				9,474				3.66	%			445,130				12,680				3.81	%
Other (4)		136,792				4,617				4.51	%			135,600				5,111				5.04	%
Total interest-earning assets		3,319,740				157,818				6.36	%			3,020,010				136,704				6.05	%
Non-interest-earning assets		96,477												103,059
Total assets	$	3,416,217											$	3,123,069
Interest-bearing liabilities:
NOW/IOLA	$	76,737			$	397				0.69	%		$	73,034			$	352				0.64	%
Money market		1,029,534				28,120				3.65	%			884,115				27,172				4.11	%
Savings		120,029				87				0.10	%			118,656				84				0.09	%
Certificates of deposit		752,638				20,513				3.64	%			754,531				21,689				3.84	%
Total deposits		1,978,938				49,117				3.32	%			1,830,336				49,297				3.60	%
Borrowings		594,800				16,425				3.69	%			536,851				15,530				3.87	%
Total interest-bearing liabilities		2,573,738				65,542				3.40	%			2,367,187				64,827				3.66	%
Non-interest-bearing liabilities:
Non-interest-bearing demand		239,239				—								199,978				—
Other non-interest-bearing liabilities		44,440				—								37,206				—
Total non-interest-bearing liabilities		283,679				—								237,184				—
Total liabilities		2,857,417				65,542								2,604,371				64,827
Total equity		558,800												518,698
Total liabilities and total equity	$	3,416,217								3.40	%		$	3,123,069								3.66	%
Net interest income					$	92,276											$	71,877
Net interest rate spread (5)										2.96	%											2.39	%
Net interest-earning assets (6)	$	746,002											$	652,823
Net interest margin (7)										3.72	%											3.18	%
Average interest-earning assets to
interest-bearing liabilities										128.99	%											127.58	%

(1)	Annualized where appropriate.
(2)	Loans include loans and mortgage loans held for sale, at fair value.
(3)	Securities include available-for-sale securities and held-to-maturity securities.
(4)	Includes FHLBNY demand account, FHLBNY stock dividends and FRBNY demand deposits.
(5)	Net interest rate spread represents the difference between the weighted average yield on interest-earning assets and the weighted average rate of interest-bearing liabilities.
(6)	Net interest-earning assets represent total interest-earning assets less total interest-bearing liabilities.
(7)	Net interest margin represents net interest income divided by average total interest-earning assets.

Ponce Financial Group, Inc. and Subsidiaries Other Data
	As of
	September 30,				June 30,				March 31,				December 31,				September 30,
	2026				2026				2026				2025				2025
Other Data
Common shares issued		24,886,711				24,886,711				24,886,711				24,886,711				24,886,711
Less treasury shares		698,810				698,810				698,810				750,785				885,586
Common shares outstanding at end of period		24,187,901				24,187,901				24,187,901				24,135,926				24,001,125
Book value per common share	$	14.60			$	13.89			$	13.49			$	13.12			$	12.70
Tangible book value per common share (1)	$	14.60			$	13.89			$	13.49			$	13.12			$	12.70

(1)

Tangible book value per common share is a non-GAAP financial measure and is calculated by dividing tangible common equity by common shares outstanding. Tangible common equity is defined as total common shareholders’ equity less goodwill and other intangible assets, net of applicable deferred taxes. The Company believes that tangible book value per common share is a useful measure for investors, regulators, and analysts because it reflects the Company’s capital position excluding the impact of goodwill and other intangible assets, which may not be realizable in a liquidation scenario. This measure is commonly used in the banking industry to assess financial condition and capital adequacy. Tangible book value per common share should not be considered a substitute for book value per common share, which is calculated in accordance with GAAP, and the Company’s definition of tangible book value per common share may differ from similarly titled measures used by other companies. During the periods presented, the Company did not make any adjustments for goodwill and other intangible assets, so tangible book value per common share is equal to the book value per common share as calculated in accordance with GAAP.

Contact:
Sergio J. Vaccaro
sergio.vaccaro@poncebank.net
718-931-9000

MDNA209 is a potential first-in-class engineered Superkine designed to block CD122 and suppress overactive immune cells responsible for inflammatory and autoimmune conditions by inhibiting IL-2 and IL-15 signalling

Long-acting MDNA209 extended median survival by up to 4-fold in aggressive mouse models of acute graft-versus-host disease

TORONTO and HOUSTON, Oct. 26, 2026 (GLOBE NEWSWIRE) — Medicenna Therapeutics Corp. (“Medicenna” or the “Company”) (TSX: MDNA, OTCQB: MDNAF), a clinical-stage immunotherapy company developing Superkines for cancer and autoimmune diseases, today announced new preclinical data demonstrating potent CD122 blockade and suppression of overactive immune-cell activity with MDNA209, its potential first-in-class cytokine-based CD122 superantagonist. The findings were presented by Dr. Minh D. To on October 23, 2026, in an oral presentation at The Promises of Treg and Interleukin-2 Therapies Conference, held October 21–24, 2026, in Paris, France.

The data showed that MDNA209 binds tightly to CD122 and blocks signals induced by IL-2 and IL-15, a pathway that when dysregulated plays a central role in the development and progression of autoimmune diseases. In two aggressive mouse models of acute graft-versus-host disease (aGvHD), treatment with long-acting MDNA209 improved disease symptoms and extended median survival by approximately 3- to 4-fold compared with controls. GvHD is a serious life-threatening complication of donor stem-cell transplantation in which donor immune cells attack the recipient’s healthy tissues.

CD122 is attracting growing clinical and strategic interest following encouraging clinical results in celiac disease and vitiligo and argenx’s acquisition of Forte Biosciences, whose lead program, FB102, is an anti-CD122 antibody. MDNA209 provides a differentiated engineered Superkine approach to blocking this target.

“These results demonstrate potent CD122 blockade with MDNA209 in human immune cells and a substantial survival benefit in two aggressive preclinical models of GvHD, further strengthening the promise of our IL-2 Superkine platform,” said Fahar Merchant, PhD, President and Chief Executive Officer of Medicenna. “With clinical progress and strategic activity attracting attention to CD122 blockade, we believe MDNA209 offers a differentiated engineered Superkine approach to this validated target as we pursue potential partnership opportunities. Unlike anti-CD122 antibodies in clinical development, our IL-2 Superkine platform allows us to “fine-tune” signaling pathways across all IL-2 and IL-15 receptor sub-types rather than a single CD122 “on/off switch”. This capability enables extraordinary flexibility to develop “disease-appropriate” therapeutics with MDNA209 leading the way for autoimmune diseases and MDNA11 demonstrating compelling promise for treating patients with advanced cancers not responsive to immune checkpoint inhibitors.”

Key Findings Presented

• High-affinity CD122 blockade. MDNA209 bound tightly to CD122 and prevented it from assembling into a receptor complex needed for IL-2 and IL-15 activity. This CD122 “clamp” mechanism blocks the signals that can sustain overactive immune cells.
• Potent inhibition of activated T cells and natural killer cells. Studies in human blood immune cells (PBMCs) demonstrated potent inhibition of IL-2 signaling in activated CD8+ T cells and natural killer (NK) cells, cell types implicated in autoimmune inflammation and tissue damage. In one human T-cell signaling assay, MDNA209 was shown to be approximately 150 times more potent than the anti-CD122 antibody Mikβ1 and 10 times more potent than the anti-CD25 comparator daclizumab biosimilar.
• Suppression of immune-cell expansion and inflammatory signals. The data indicated that MDNA209 inhibited immune-cell expansion driven by IL-2 and IL-15. It also suppressed IL-2-induced release of interferon gamma, an inflammatory protein that can contribute to tissue damage.
• Treg viability maintained following treatment. Four days of treatment did not reduce the viability of human regulatory T cells (Tregs), which help keep the immune system in check.
• Activity in a laboratory model relevant to GvHD. MDNA209 inhibited immune-cell expansion in mixed lymphocyte reactions using human PBMCs from unrelated individuals. This laboratory system models the donor–recipient immune activation involved in GvHD.
• Proof of concept in two aggressive models of acute GvHD. Treatment with long-acting MDNA209 improved disease symptoms and significantly extended survival in two mouse models with partially or fully mismatched donor–recipient transplants. Body weight recovery following initial loss upon transplant of donor cells was also evident. Median survival reached 23.5 and 26 days, respectively, compared with 7 days in each control group—approximately a three- to fourfold increase.

Together, these findings support the potential therapeutic utility of directly targeting disease-driving immune cells with MDNA209 through CD122 blockade, with possible applications across autoimmune and inflammatory diseases.

About CD122

CD122, also known as IL-2 receptor beta, is a shared signaling component of the receptors for IL-2 and IL-15. These interleukins help regulate the activation, growth and survival of immune cells. In certain autoimmune diseases, these pathways can sustain hyperactive immune cells that attack healthy tissues. Blocking CD122 offers an approach to inhibit IL-2 and IL-15 pathways through a single target. Recent clinical results reported with investigational CD122-blocking antibodies have supported growing interest in this mechanism as a potential treatment strategy for autoimmune diseases.

About MDNA209

MDNA209 is an investigational, long-acting Superkine in preclinical development as a potential first-in-class cytokine-based CD122 superantagonist. MDNA209 is engineered for high-affinity binding to CD122 (>100x higher than native IL-2) and is designed to potently inhibit signaling by both IL-2 and IL-15, thereby suppressing overactive immune cells that can contribute to autoimmune and inflammatory diseases.

About Medicenna Therapeutics

Medicenna is a clinical-stage immunotherapy company developing engineered cytokine therapies designed to selectively engage the immune system to treat cancer and autoimmune diseases. The Company’s most advanced program, bizaxofusp (formerly MDNA55), is a targeted IL-4 Empowered Superkine that has been evaluated in more than 130 patients across five clinical trials, including a Phase 2b study in recurrent glioblastoma. Bizaxofusp has received Fast Track designation from the FDA and Orphan Drug designation in the United States and Europe. Medicenna is also advancing MDNA11, a long-acting IL-2 Superkine designed to selectively activate cancer-fighting immune cells, which is currently being evaluated in the Phase 1/2 ABILITY-1 study and the Phase 1b NEO-CYT study. With its proprietary BiSKIT and T-MASK platforms, the Company is also developing MDNA113, a targeted PD-1 x IL-2 bifunctional immunotherapy for solid tumors, and MDNA209, an IL-2/IL-15 superantagonist effectively blocking the overactive CD122/CD132 pathway responsible for autoimmune diseases.

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

Forward-Looking Statements

This news release contains forward-looking statements within the meaning of applicable securities laws. Forward-looking statements include, but are not limited to, statements regarding the therapeutic potential, possible applications and continued preclinical development of MDNA209, and the Company’s future operations, plans, objectives and expectations. These statements assume that preclinical findings support further development and that necessary resources and regulatory permissions can be obtained. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially include uncertainties in preclinical research, the risk that preclinical results do not translate into clinical benefit, development, regulatory and financing risks, and the risks detailed in the latest annual information form of the Company and in other filings made by the Company with the applicable securities regulators from time to time in Canada.

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

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

Investor and Company Contact

Daniel Scarr
Director, Corporate Development
Medicenna Therapeutics
ir@medicenna.com

The Plug & Play and Smart Home Technologies Are Expected to Be Supplied to Projects in Oklahoma and Texas

Home Creations Has Been Building Homes and Communities Since 1981

MIAMI, Oct. 26, 2026 (GLOBE NEWSWIRE) — SKYX Platforms Corp. (NASDAQ: SKYX) (the “Company” or “SKYX”), a highly disruptive platform technology company with over 120 patents and pending applications globally and 60 lighting and home décor websites, with a mission to make homes and buildings become safe and smart as the new standard, today announced that SKYX and its subsidiary Deako expect to supply approximately 60,000 units of their advanced technologies in the next 12 months to over 700 homes to Oklahoma and Texas community and home builder Home Creations, as the Company continues to grow its market penetration.

Founded in 1981, Home Creations is a family-founded homebuilder serving Oklahoma and the Houston, Texas, market. Its neighborhoods offer amenities including clubhouses, community pools, fitness centers, playgrounds, sidewalks, and green spaces. Amenities vary by community and are not available in every Home Creations neighborhood.

Home Creations combines energy-efficient construction with smart home features. Its Oklahoma City homes are nearly 53% more energy efficient than typical new homes and include Deako smart lighting, a smart thermostat, smart locks, and an app-enabled garage door. Every home is HERS-verified by a certified RESNET energy rater and backed by a 10-year structural warranty. The smart home features and efficiency figures described above apply to Oklahoma City homes.

Home Creations Development

SKYX Deako highlights since merger closing:

• Home Creations: over 60,000 units for over 700 homes in Oklahoma and Texas.
• Maronda Homes: over 80,000 units for 1,000 homes.
• Since closing: over 140,000 units across more than 1,700 homes
• Combined pipeline estimated at over 4 million units, with an expected average selling price of approximately $50 per product.
• Deako brings over 32 million units shipped, over $26 million in 2025 revenue and relationships with more than 50 U.S. homebuilders including D.R. Horton and Toll brothers.
• SKYX and Deako creating an A-to-Z smart home offering for the builder and hotel markets.
• Full combined product line could increase future revenue per home by up to five times.
• Merger expected to reduce annual cash expenses by over $6 million.

For information about Home Creations, visit www.homecreations.com.

For more information about SKYX and Deako, visit www.SKYX.com and www.Deako.com.

Derek Richardson, Founder and CEO of Deako, stated: “We are excited to grow our work with Home Creations to bring our smart home technologies to more homeowners in Oklahoma and Texas. Home Creations’ focus on energy efficiency, connected living, and thoughtfully designed communities makes this a natural fit for Deako. Our technology provides a smart lighting foundation that is simple for builders to install and easy for homeowners to customize and expand.”

Rani Kohen, Founder and Executive Chairman of SKYX Platforms, said: “We are very pleased to be working with another prominent home builder, Home Creations. We expect to keep expanding our builder programs with our subsidiary Deako and look forward to continuing to grow our market penetration while creating safer, more advanced, and smarter homes and buildings of the future.”

About SKYX Platforms Corp.

As electricity is a standard in every home and building, our mission is to make homes and buildings become safe-advanced and smart as the new standard. SKYX has a series of highly disruptive advanced, safe, smart and AI platform technologies, with over 120 U.S. and global patents and patent pending applications. Additionally, the Company owns 60 lighting and home décor websites for both retail and commercial segments. Our technologies place an emphasis on high quality and ease of use, while significantly enhancing both safety and lifestyle in homes and buildings. We believe that our products are a necessity in every room in both homes and other buildings in the U.S. and globally. For more information, please visit our website at https://www.skyx.com/ or follow us on LinkedIn.

Forward-Looking Statements

Certain statements made in this press release are not based on historical facts, but are forward-looking statements. These statements can be identified by the use of forward-looking terminology such as “aim,” “anticipate,” “believe,” “can,” “could,” “continue,” “estimate,” “expect,” “evaluate,” “forecast,” “guidance,” “intend,” “likely,” “may,” “might,” “objective,” “ongoing,” “outlook,” “plan,” “potential,” “predict,” “probable,” “project,” “seek,” “should,” “target,” “view,” “will,” or “would,” or the negative thereof or other variations thereon or comparable terminology, although not all forward-looking statements contain these words. These statements reflect the Company’s reasonable judgment with respect to future events and are subject to risks, uncertainties and other factors, many of which have outcomes difficult to predict and may be outside our control, that could cause actual results or outcomes to differ materially from those in the forward-looking statements. Such risks and uncertainties include statements relating to the Company’s ability to successfully launch, commercialize, develop additional features and achieve market acceptance of its products and technologies and integrate its products and technologies with third-party platforms or technologies; the Company’s ability to achieve positive cash flows; the Company’s efforts and ability to drive the adoption of its products and technologies as a standard feature, including their use in homes, hotels, offices and cruise ships; the Company’s ability to capture market share; the Company’s estimates of its potential addressable market and demand for its products and technologies; the Company’s ability to raise additional capital to support its operations as needed, which may not be available on acceptable terms or at all; the Company’s ability to continue as a going concern; the Company’s ability to execute on any sales and licensing or other strategic opportunities; the possibility that any of the Company’s products will become National Electrical Code (NEC)-code or otherwise code mandatory in any jurisdiction, or that any of the Company’s current or future products or technologies will be adopted by any state, country, or municipality, within any specific timeframe or at all; risks arising from mergers, acquisitions, joint ventures and other collaborations; the Company’s ability to attract and retain key executives and qualified personnel; guidance provided by management, which may differ from the Company’s actual operating results; the potential impact of unstable market and economic conditions on the Company’s business, financial condition, and stock price; and other risks and uncertainties described in the Company’s filings with the Securities and Exchange Commission, including its periodic reports on Form 10-K and Form 10-Q. There can be no assurance as to any of the foregoing matters. Any forward-looking statement speaks only as of the date of this press release, and the Company undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by U.S. federal securities laws.

Investor Relations Contacts:

Jeff Ramson
PCG Advisory
jramson@pcgadvisory.com

Ronald A. Both
Encore Investor Relations
rb@encore-ir.com

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/a2269f18-0763-4f38-9e3d-4207759756a4

New market entries follow expanded product offerings in Florida, South Carolina and California, advancing Slide’s geographic and product diversification

TAMPA, Fla., Oct. 26, 2026 (GLOBE NEWSWIRE) — Slide Insurance Holdings, Inc. (“Slide” or the “Company”) (NASDAQ: SLDE) today announced it is open for new business in Texas and Rhode Island. The new market entries follow expanded product offerings in Florida, South Carolina and California, and reflect Slide’s strategy of disciplined growth and geographic diversification into markets where its underwriting and catastrophe risk management capabilities provide Slide with a competitive advantage. 

Slide is entering Texas with an HO3 homeowners insurance product and Rhode Island with a DP3 dwelling insurance product for eligible rental and seasonal properties. The offerings extend the Company’s reach into two additional states, providing new coverage options for property owners and expanding the solutions available to independent agents.

“Our entries into Texas and Rhode Island are fully aligned with our long-term diversified growth strategy to expand into attractive new markets,” said Bruce Lucas, Chairman and Chief Executive Officer of Slide. “Texas represents one of the largest homeowners insurance markets in the United States, while Rhode Island establishes a foothold for further expansion across the Northeast. Our underwriting expertise, technology and financial strength position us to grow with discipline while bringing additional choice and capacity to the communities we serve.”

In Texas, Slide’s homeowners offering provides an additional option for eligible homeowners in a market where catastrophe exposure and coverage costs remain important considerations. In Rhode Island, the Company’s dwelling product addresses the needs of landlords and seasonal property owners, adding choice in a market facing increased underwriting selectivity, particularly in coastal communities.

The expansion builds on Slide’s experience underwriting catastrophe-exposed residential properties and its focus on matching products to the needs of individual markets. By broadening both its geographic footprint and product portfolio, the Company continues to diversify its business and strengthen its foundation for long-term growth.

Participating independent agents can access the new offerings through Violet, Slide’s proprietary quoting and policy management platform.

Forward-Looking Statements

Statements in this press release that are not historical facts are forward-looking statements that are subject to certain risks and uncertainties that could cause actual events and results to differ materially from those discussed herein. In some cases, you can identify these statements by forward-looking words such as “may,” “might,” “will,” “should,” “expect,” “plan,” “anticipate,” “believe,” “aim,” “estimates,” “predicts,” “potential” or “continue,” the negative of these terms and other comparable terminology and relate, without limitation, to the Company’s beliefs and expectations regarding the Company’s projections of future financial performance including net margins and its share repurchase program and its ability to increase return on equity and build long-term value for shareholders. These statements are only predictions based on Slide’s current expectations and projections about future events and are not guarantees of actual results, level of activity, performance or achievements. Although Slide believes the expectations reflected in the forward-looking statements are based on reasonable assumptions, there are important factors that could cause the Company’s actual results, level of activity, performance or achievements to differ materially from those anticipated in any forward-looking statements, including, among others, our limited operating history; the success of the Company’s underwriting and profitability initiatives; inflation and other changes in economic conditions (including changes in interest rates and financial and real estate markets), including changes that may impact demand for our products and our operations; lack of effectiveness of exclusions and loss limitation methods in the insurance policies we assume or write; inherent uncertainty of our models and our reliance on such models as a tool to evaluate risk; the impact of macroeconomic conditions, including declining consumer confidence, inflation, high unemployment and the threat of recession; the impact of new federal and state regulations that affect the property and casualty insurance market and our failure to meet increased regulatory requirements, including minimum capital and surplus requirements; the cost of reinsurance, the collectability of reinsurance and our ability to obtain reinsurance coverage on terms and at a cost acceptable to us; assessments charged by various governmental agencies; pricing competition and other initiatives by competitors; our ability to obtain regulatory approval for requested rate changes, and the timing thereof; legislative and regulatory developments; the outcome of litigation pending against us, including the terms of any settlements; risks related to the nature of our business; performance of our investment portfolio; the adequacy of our liability for losses and loss adjustment expense; ratings by industry services; catastrophe losses; reliance on key personnel; weather conditions (including the severity and frequency of storms, hurricanes, tornadoes, wildfires and hail); acts of war and terrorist activities; court decisions and trends in litigation; and other matters described from time to time by us in our filings with the Securities and Exchange Commission. Any forward-looking statement made by Slide in this press release speaks only as of the date on which it is made. Slide undertakes no obligation to update any forward-looking statement, whether as a result of new information, actual results, revised expectations or otherwise, except as may be required by law.

About Slide

Slide Insurance Holdings, Inc. (NASDAQ: SLDE) is a Tampa-based specialty property insurer built for coastal and catastrophe-prone markets. Slide combines advanced technology with deep insurance expertise to maintain a disciplined approach to risk, bring additional capacity to the markets it serves along with its network of more than 5,000 independent agents, and provide a dependable, streamlined insurance experience to its policyholders. Slide ranks among the 25 largest U.S. homeowners insurance groups by direct written premium, according to the National Association of Insurance Commissioners (NAIC). For more information, visit slideinsurance.com.

Contacts

Investors
ir@slideinsurance.com

Media
Rachel Carr
Chief Marketing Officer
press@slideinsurance.com

New platform-independent solution targets commercial fleets, private vehicles and insurance providers, eliminating the need for dedicated in-vehicle hardware

Petah Tikva, Israel, Oct. 26, 2026 (GLOBE NEWSWIRE) — SaverOne 2014 Ltd. (Nasdaq: SVRE, TASE: SVRE), a technology company specializing in radio frequency (RF)-based solutions for the advanced transportation safety, defense and homeland security markets, today announced the launch of a software-only version of its driver distraction prevention solution that can integrate into the existing telematics and in-vehicle platforms that fleets already use. This provides an integrated active safety solution that prevents phone distraction while driving, without the need for complex installation of hardware in the vehicle cabin, avoiding vehicle downtime and potential damage. The new solution is designed to expand SaverOne’s addressable market beyond commercial fleets to include private vehicles, telematics service providers and insurance companies.

Most commercial fleets already have an existing telematics system installed in their vehicles and do not want to add another hardware box. SaverOne’s software-only solution brings its driver distraction prevention capabilities to these existing platforms. The driver’s phone is connected to SaverOne’s cloud server, which implements each fleet’s own safety policy. While driving, distracting apps and notifications are blocked, and the apps that the fleet allows continue to work. The solution also identifies when a driver’s phone is not connected to the system, in which case an alert is activated through the telematics system or the vehicle speakers, and a phone call can be initiated to the driver as a reminder to reconnect. Fleet managers have full visibility through a cloud-based dashboard, while the system maintains high privacy standards: no message content, numbers dialed or location data are collected.

SaverOne is in the process of completing the integration of its software-only solution with a few telematics system providers, among them Ituran and Geotab, with the SaverOne product available on the Geotab Marketplace. In addition, the solution has been integrated with the infotainment system of a leading global commercial vehicle manufacturer. Adding these platforms brings a potential base of many millions of vehicles.   

Beyond Commercial Fleets: Unlocking the Private Vehicle and Insurance Markets

Beyond commercial fleets, SaverOne’s software-only solution will also address the significantly larger private passenger vehicle market. Potential channels include existing GPS-based vehicle tracking and telematics providers, and insurers offering young-driver policies in which drivers identify themselves through a mobile app before each trip. Integration with these existing systems could bring distraction prevention to a broad base of private motorists without installing dedicated hardware, creating an additional growth opportunity.

Mr. Ori Gilboa, CEO of SaverOne, stated, “Fleets want active safety, but they do not want to install another box in the vehicle. By delivering our distraction prevention as software on the telematics and in-vehicle platforms that fleets already run, we remove the need for additional hardware and significantly lower the upfront investment for fleets. Our integrations with several major telematics and infotainment platforms will place our solution on platforms that already reach fleets with millions of drivers, and we are now focused on turning these integrations into commercial deployments. Importantly, we see an even broader opportunity beyond commercial fleets, particularly in the private vehicle and insurance markets, where existing telematics and mobile app platforms could enable deployment at a scale previously difficult to address with hardware-based solutions.”

Please visit https://youtu.be/mv-h2QtHMOc to see a live demonstration of the new product.

About SaverOne 2014 Ltd.

SaverOne is a technology company specializing in RF-based solutions for the advanced transportation safety, defense and homeland security markets. SaverOne designs, develops and commercializes OEM and aftermarket technologies that detect, locate and analyze cellphone RF signals using proprietary hardware, software, AI and algorithms.

SaverOne’s first commercial product line is designed to prevent vehicle accidents caused by driver distraction from mobile phone use. Building on the same core RF sensing platform, SaverOne is also developing solutions for vulnerable road user (VRU) detection under limited-visibility and non-line-of-sight conditions, based on the cellphone footprint of pedestrians and other road users.

In 2026, SaverOne expanded the potential applications of its RF sensing technology beyond transportation through its strategic transaction with VisionWave Holdings, Inc. (Nasdaq: VWAV), focused on integrating SaverOne’s RF capabilities into defense, homeland security and critical infrastructure applications.

Learn more at https://saver.one/

Forward–Looking Statements

This press release contains “forward-looking statements“ within the meaning of the Private Securities Litigation Reform Act and other securities laws that are subject to substantial risks and uncertainties. All statements, besides those of historical fact, contained in this press release are forward-looking. Forward-looking statements contained in this press release include, but are not limited to, statements regarding SaverOne’s strategic and business plans, technology, relationships, objectives, and expectations for its business, the impact of trends on and interest in its business, intellectual property or product and its future results, operations, and financial performance and condition and may be identified by the use of words such as “anticipate,” “believe,” “contemplate,” “could,” “estimate,” “expect,” “intend,” “seek,” “may,” “might,” “plan,” “potential,” “predict,” “project,” “target,” “aim,” “should,” “will,” “would,” or the negative of these words or other similar expressions. However, not all forward-looking statements contain these words. Forward-looking statements are based on SaverOne’s current expectations and are subject to inherent uncertainties, risks, and assumptions that are difficult to predict. Further, certain forward-looking statements are based on assumptions about future events that may not prove accurate. Many factors could cause SaverOne’s actual activities or results to differ materially from those anticipated in such forward-looking statements. Factors that could cause actual results to differ materially from those expressed or implied in such forward-looking statements include, but are not limited to: the ability of our technology to substantially improve the safety of drivers; our ability to protect our patented technology from infringement by third parties; SaverOne’s planned level of revenues and capital expenditures and its ability to continue as a going concern; SaverOne’s ability to maintain its listing on the Nasdaq Capital Market; its ability to market and sell its products; its plans to continue to invest in research and development to develop technology for both existing and new products; SaverOne’s intention to advance its technologies and commercialization efforts in Europe and globally; acceptance of its business model by investors; the ability to correctly identify and enter new markets; the impact of competition and new technologies; general market, political and economic conditions in the countries in which SaverOne operates; projected capital expenditures and liquidity; SaverOne’s intention to retain key employees, and its belief that it will maintain good relations with all employees; as well as other risks and uncertainties, including, but not limited to, the risks detailed in SaverOne’s Annual Report on Form 20-F filed with the U.S. Securities and Exchange Commission (the “SEC”) on March 27, 2026, and in subsequent filings with the SEC. Forward-looking statements in this announcement are made as of this date, and SaverOne undertakes no duty to update such information except as required under applicable law.

International Investor Relations Contact:

Ehud Helft
+1 212 378 8040
saverone@ekgir.com

Available for purchase, the unique in-house system combines proprietary detection, ground-based guidance and reusable interceptors to deliver autonomous perimeter protection; November demonstrations in Israel to precede international demonstrations

Kfar Saba, Israel, Oct. 26, 2026 (GLOBE NEWSWIRE) — ParaZero Technologies Ltd. (Nasdaq: PRZO) (the “Company” or “ParaZero”), an aerospace defense company pioneering smart, autonomous solutions for the global manned and unmanned aerial systems (UAS) industry, today announced the launch of TillOnAIR, a complete, in-house developed autonomous Counter-UAS system and the newest addition to its DefendAir product family. Available for purchase, TillOnAIR brings together a combination of capabilities the Company believes represents a first-of-its-kind approach to autonomous perimeter defense.

The launch expands ParaZero’s offering from interception technologies and platform integrations to a complete, proprietary detect-to-defeat solution. TillOnAIR combines a patented detection-and-guidance technology, a ground-based mission control unit, a reusable quadcopter interceptor and a DefendAir Net Pod. The system is designed to operate autonomously throughout the engagement cycle, from detecting an approaching threat through interceptor launch, guidance, net deployment and return, without human intervention.

At the heart of TillOnAIR’s distinctive architecture is the separation of ground-based targeting and guidance from the airborne interceptor. The ground system detects and tracks the threat and guides the interceptor directly from the ground, which requires no onboard GPS, homing seeker, camera or beacon receiver. This architecture enables a simple, lightweight and cost-efficient interceptor within a fully autonomous protection system.

Designed for operation in environments affected by electronic interference, TillOnAIR combines resilience to jamming and spoofing with physical interception that does not depend on disrupting the hostile drone’s communications or navigation. Its net-based defeat mechanism is designed to address fiber-optic-guided, pre-programmed and autonomous drones without relying on an RF link to the threat.

The interceptor is designed to engage the hostile drone from above using a DefendAir net and then return intact for reuse. A new Net Pod is the only replacement required for another engagement, supporting a low recurring interception cost. The non-explosive mechanism avoids the use of an explosive warhead and the fragmentation associated with explosive interceptors.

TillOnAIR is designed to bring a new set of capabilities to the battlefield. Key elements include:

• Fully autonomous operation: An integrated detection-to-interception cycle designed to require no pilot or operator intervention.
• Modular 360° protection: A configurable architecture providing a 50–100-meter protection bubble around the defended asset.
• Rapid field deployment: Approximately 20-minute setup and an approximately 15 kg system weight support deployment at temporary positions and permanent sites.
• Multiple-threat response: One ground system can coordinate multiple interceptors to address multiple incoming threats.
• Resilience to electronic interference: Ground-based guidance without onboard GPS dependency, combined with physical interception of threats that cannot be stopped by disrupting their communications.
• Reusable interception: The interceptor returns after engagement, with recurring use requiring replacement of the Net Pod.

Within the DefendAir family, TillOnAIR serves as the autonomous perimeter-defense layer. It complements the family’s personal protection systems, vehicle-mounted active protection applications and longer-range airborne integrations, extending ParaZero’s net-based interception capabilities to the defense of positions, facilities and other high-value assets.

TillOnAIR is designed for military assembly areas such as outposts, command posts and field hospitals, where forces require protection that can be established quickly and relocated as operational needs change. Permanent-site applications include government buildings, critical infrastructure, energy facilities, radar stations and air-defense batteries. The system also supports security applications such as VIP protection and public events where non-explosive interception is an important operational consideration.

“TillOnAIR introduces a unique approach to autonomous drone defense: the intelligence and guidance remain on the ground, while a simple, reusable interceptor physically stops the threat,” said Ariel Alon, CEO of ParaZero. “We have brought detection, guidance and interception together in one complete ParaZero system. This expands our role from providing the interception capability to delivering an entire autonomous defense solution, adding a new perimeter-protection layer to the DefendAir family.”

TillOnAIR was presented for the first time at ParaZero’s booth at the AUSA Annual Meeting and Exposition in Washington, D.C. and at the SIBAT – Israeli National Defense Pavilion

During November 2026, ParaZero plans to conduct a series of demonstrations in Israel for government, military, defense, security and other relevant organizations. TillOnAIR is also expected to be presented at the UVID DroneTech show, to be held in Tel Aviv on November 12, 2026. Following the demonstrations in Israel, the Company plans to conduct a series of demonstrations worldwide.

About ParaZero Technologies

ParaZero Technologies Ltd. (Nasdaq: PRZO) is an aerospace defense company pioneering smart, autonomous solutions for the global manned and unmanned aerial systems (UAS) industry.

Founded in 2014 by aviation professionals and drone industry veterans, ParaZero develops intelligent, mission-ready technologies for defense and advanced aerial applications.

The Company’s DefendAir product family provides a controlled, non-explosive, net-based physical interception capability designed for integration across personal, mobile, autonomous and fixed-site Counter-UAS systems.

For more information, visit ParaZero https://parazero.com/

Forward-Looking Statements

This press release contains “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act and other securities laws. Forward-looking statements contained in this press release include, but are not limited to, statements regarding ParaZero’s strategic and business plans, technology, relationships, objectives and expectations for its business, growth, the impact of trends on and interest in its business, intellectual property, products and its future results, operations and financial performance and condition and may be identified by the use of words such as “may,” “seek,” “will,” “consider,” “likely,” “assume,” “estimate,” “expect,” “anticipate,” “intend,” “believe,” “do not believe,” “aim,” “predict,” “plan,” “project,” “continue,” “potential,” “guidance,” “objective,” “outlook,” “trends,” “future,” “could,” “would,” “should,” “target,” “on track” or their negatives or variations, and similar terminology and words of similar import, generally involve future or forward-looking statements. For example, the Company is using forward-looking statements when it discusses the anticipated capabilities, performance, cost-efficiency, reusability and potential applications of TillOnAIR, its planned demonstrations in Israel and worldwide, its planned presentation at the UVID DroneTech show, and the expansion of its DefendAir product family.

Forward-looking statements are not historical facts, and are based upon management’s current expectations, beliefs and projections, many of which, by their nature, are inherently uncertain. Such expectations, beliefs and projections are expressed in good faith. However, there can be no assurance that management’s expectations, beliefs and projections will be achieved, and actual results may differ materially from what is expressed in or indicated by the forward-looking statements. Forward-looking statements are subject to risks and uncertainties that could cause actual performance or results to differ materially from those expressed in the forward-looking statements. For a more detailed description of the risks and uncertainties affecting the Company, reference is made to the Company’s reports filed from time to time with the Securities and Exchange Commission (“SEC”), including, but not limited to, the risks detailed in the Company’s Annual Report on Form 20-F filed with the SEC on March 26, 2026. Forward-looking statements speak only as of the date the statements are made. The Company assumes no obligation to update forward-looking statements to reflect actual results, subsequent events or circumstances, changes in assumptions or changes in other factors affecting forward-looking information except to the extent required by applicable securities laws. If the Company does update one or more forward-looking statements, no inference should be drawn that the Company will make additional updates with respect thereto or with respect to other forward-looking statements. References and links to websites have been provided as a convenience, and the information contained on such websites is not incorporated by reference into this press release. ParaZero is not responsible for the content of third-party websites.

Investor Relations Contact:

Michal Efraty
Investor Relations
michal@efraty.com

First Milestone, Monthly Operating Cash Breakeven, Remains an Internal Target for January 2027; CEO Video Update Walks Through the Numbers

Detroit, Michigan, Oct. 26, 2026 (GLOBE NEWSWIRE) — Artificial Intelligence Technology Solutions, Inc. (the “Company”) (OTCID:AITX), a developer and operator of AI-driven security and productivity solutions for enterprise clients, today described four operating milestones it intends to use to measure progress toward breakeven. CEO/CTO and founder Steve Reinharz discusses the milestones in a video update available at www.youtu.be/NSPCFNvr4jk.

Each milestone applies a stricter test than the one before it. All four are internal management measures, not measures under generally accepted accounting principles (“GAAP”); see “Important Information Regarding Management Measures” below.

Milestone	Test	Exclusions include these and other items	Internal target (not a projection or guarantee)
1. Monthly operating cash breakeven	Monthly revenue, as recognized, exceeds operating cash paid to operate the Company	Debt service; inventory purchases for device builds	January 2027 (as announced October 21, 2026; previously December 2026
2. Monthly accrual operating breakeven	Monthly revenue exceeds operating expenses as incurred	Depreciation and other non-cash items; deferrals; debt service; inventory purchases	March–April 2027
3. Operating breakeven after cash debt service	Milestone 2, plus debt service paid in cash	Inventory purchases; debt not serviced in cash	Not yet set
4. Full accrual-basis breakeven	Monthly revenue exceeds all expenses as incurred, including debt service and inventory purchases	Depreciation and other non-cash items	Not yet set

“Milestone one is the narrowest of the four measures, reaching it will be a huge step forward,” said Reinharz. “It would show more self-sustainability than this Company has ever had. We are focused on milestones one and two, and as time goes on, I expect to be able to forecast three and four.”

Starting Point

For its fiscal second quarter ended August 31, 2026, the Company reported revenue of $1,985,604, up 8% sequentially and 5% year over year. Revenue from customers other than its largest grew 61% year over year, and that customer’s share of revenue fell to 18% from 46% a year earlier. Recurring device rental revenue represented 89% of total revenue.

Two Levers: Revenue and Cost

The Company’s projection for Milestone 1 assumes revenue growth of approximately 2.7% per month, the pace implied by its second-quarter sequential growth of 8%. “We have two basic levers: increase revenue and decrease cost,” said Reinharz. “Our revenue assumption is based on what the business actually did last quarter.”

On cost, the Company expanded its August target of approximately $200,000 in monthly cash spend reductions to more than $350,000 per month from February 2027, measured against its August 2026 run-rate, as announced October 20, 2026. The program includes a reduction in force of approximately 7 positions in August 2026, as previously announced, and 17 positions in October 2026. It also includes reductions in marketing, promotion, cloud and other operating costs. The Company’s sales force was not affected.

The program also includes salary deferrals, which reduce cash spend faster than they reduce total expenses. Deferred amounts remain obligations of the Company. This is why Milestone 1 measures cash spend and Milestone 2 measures expenses as incurred.

“These were hard decisions, and we don’t take them lightly,” added Reinharz. “We tried to cut costs without significantly affecting our major initiatives or our existing revenue streams.”

In August, the Company expected to reach Milestone 1 in December 2026. As announced October 20, 2026, the expanded program phases in through year-end, and the Company now expects to reach it around January 2027.

Gross Margin

Second-quarter gross margin was 67% excluding a one-time, non-cash inventory write-down of $270,987 related to the discontinued residential camera line, and 54% as reported. Management’s objective is to return gross margin to the 75%–85% range, a level the Company has reached before: gross margin was approximately 83% in its fiscal fourth quarter ended February 28, 2026, as derived from its annual and nine-month results. The hardware price increases effective September 22, 2026 further support that objective.

Debt Service

Certain of the Company’s monthly-repayment loans, including merchant cash advances, are scheduled to be fully repaid beginning in April 2027, which would reduce monthly cash debt service and support progress toward Milestones 3 and 4. This is one data point. The Company’s other debt obligations, including those described in its Quarterly Report on Form 10-Q for the period ended August 31, 2026, could change the timing of those milestones.

Inventory Financing

The Company currently pays cash for the inventory it uses to build devices because it has not obtained inventory financing on acceptable terms. The Company expects inventory needs to grow with ROAMEO^™, RAIA^™ and its existing product lineup. As it reaches Milestones 1 and 2, the Company hopes to become eligible for non-dilutive financing, such as secured, lower-cost inventory financing, rather than the financing it relies on today.

“What we’re hoping happens as we hit milestones one and two is that new, non-dilutive ways to finance inventory become options for us,” concluded Reinharz. “That’s a milestone I can’t wait to get to.”

The Company intends to report progress against these milestones in future updates.

Important Information Regarding Management Measures

The four milestones are management estimates and internal measures, not results achieved, guarantees of future performance or projections of profitability under GAAP. They differ from GAAP net income (loss) and from net cash provided by or used in operating activities, and should not be considered substitutes for those measures. The Company cannot provide a quantitative reconciliation of these forward-looking measures to the most directly comparable GAAP measures without unreasonable effort, because it cannot reliably estimate future working capital changes, non-cash items and other reconciling items.

Revenue recognized in a month does not necessarily equal cash collected in that month. Milestone 1 compares recognized revenue with cash operating expenditures. Salary deferrals and deferred compensation reduce cash expenditures but remain obligations of the Company, and Milestones 1 and 2 exclude them. Milestones 2 through 4 exclude depreciation and other non-cash items. Collection timing, deferred obligations, debt service, inventory purchases and other cash requirements may require financing even if a milestone is reached. Reaching any milestone would not, by itself, establish GAAP profitability, positive net cash provided by operating activities, sufficient liquidity to meet the Company’s obligations or an end to its need for outside financing.

The milestones are not defined under GAAP or any other accounting standard. Management calculates them from internal records, and they have not been audited or reviewed by the Company’s independent registered public accounting firm. Other companies may calculate similarly titled measures differently.

About Artificial Intelligence Technology Solutions, Inc. (AITX)

AITX is a developer and provider of artificial intelligence-based solutions that empower organizations to gain new insight, solve complex challenges and drive operational efficiency. Through its family of companies, including PURSUON, Inc. (formerly RAD-M), Robotic Assistance Devices, Inc. (RAD-I), Robotic Assistance Devices Residential (RAD-R), Robotic Assistance Devices Group (RAD-G), and Robotic Assistance Devices Lanka (Private) Limited (RAD Lanka), AITX develops and delivers a broad range of AI-driven technologies and services designed to transform security, automation, and operational workflows across multiple industries.

Through its primary subsidiary, RAD-I, AITX is redefining the nearly $50 billion U.S. security and guarding services industryⁱ with its AI-driven Solutions-as-a-Service model. RAD solutions are specifically designed to deliver cost savings of between 35% and 80% compared to traditional manned security and monitoring, utilizing a suite of stationary and mobile autonomous systems that complement, and in many cases replace, human personnel in environments better suited for machines. All RAD technologies, AI-based analytics and software platforms are primarily developed in-house.

All of RAD’s solutions are designed to integrate with leading industry platforms and workflows, including an integration with Immix^®, a provider of central station and remote monitoring software. The Company’s operations and internal controls have been validated through successful completion of its SOC 2 Type 2 audit, reinforcing its credibility with enterprise and government clients that require rigorous data protection and compliance standards.

AITX is led by Steve Reinharz, CEO/CTO and founder of the Company and all subsidiaries, who brings decades of experience in the security services industry. The Company’s solutions are deployed across a wide range of industries including enterprises, government, transportation, critical infrastructure, education, and healthcare.

To learn more, visit www.aitx.ai, www.radsecurity.com, www.pursuon.com, www.radgroup.ai, www.saramonitoring.ai, www.radlightmyway.com, and www.stevereinharz.com, or follow Steve Reinharz on X @SteveReinharz. Information contained on, or accessible through, the foregoing websites and social media accounts is not incorporated by reference into, and does not form a part of, this press release or any of the Company’s filings with the Securities and Exchange Commission.

Cautionary Disclosure About Forward-Looking Statements

This press release contains forward-looking statements, including statements regarding the definition, expected timing and achievement of the four milestones; the Company’s previously announced cash breakeven objectives; anticipated monthly revenue growth; anticipated cash spend reductions and the effects of workforce, vendor and operating reductions and salary deferrals; the Company’s gross margin objective; the scheduled repayment of certain loans and its effect on debt service; anticipated inventory requirements for ROAMEO, RAIA and other products; the potential availability of inventory or other non-dilutive financing; the relationship of the milestones to the Company’s previously announced all-in cash breakeven target; negotiations to extend the maturities of the Company’s related-party debt; the proposed increase in the Company’s authorized common stock; and future progress updates.

These statements reflect management’s current expectations and assumptions and are subject to significant risks and uncertainties. Actual results may differ materially. Risks include revenue growth below the assumed rate, which exceeds the Company’s growth over the preceding twelve months; customer attrition, cancellations or deployment delays; delays in billing or collections; cost reductions that are delayed, smaller than anticipated or offset by separation and other costs; deferred compensation and other obligations becoming payable; staffing reductions adversely affecting sales, execution, customer support or retention; gross margin below management’s objective; changes in, or the acceleration, extension or refinancing of, the Company’s debt obligations; debt service, inventory or other cash requirements exceeding expectations; the unavailability of inventory or other financing on acceptable terms or at all; product launch or commercialization delays, including for RAIA and ROAMEO; regulatory restrictions affecting ROAMEO, and substantial dilution from equity or equity-linked financing, from the conversion or exchange of debt and accrued interest, and from any issuance of the additional authorized shares described in the Company’s preliminary information statement filed October 23, 2026.

The Company did not meet its target of positive cash flow by November 2025, has moved its December 2026 breakeven objective to January 2027, and may not reach any milestone within the targeted period, or sustain it once reached.

Other material risks include the Company’s history of losses, negative working capital, stockholders’ deficit, substantial doubt about its ability to continue as a going concern, and the risks described in its most recent Annual Report on Form 10-K and subsequent filings with the Securities and Exchange Commission. Because the Company’s common stock is a “penny stock,” the safe harbor for forward-looking statements under the Private Securities Litigation Reform Act of 1995 is not available to the Company. Readers should not place undue reliance on these statements, which speak only as of the date of this release. Except as required by law, the Company undertakes no obligation to update them. Although the Company intends to report progress against the milestones, it undertakes no obligation to do so at any particular time or in any particular form, except as required by law. This release does not constitute an offer to sell or the solicitation of an offer to buy securities.

The CEO video update referred to in this release is subject to this cautionary disclosure. The video does not supplement, update or modify this release, and if anything in the video differs from this release, this release controls. Investors should rely only on this release and the Company’s filings with the SEC.

Certain Information Regarding the Company’s Financial Condition

The Company has not been profitable in any fiscal year of its operating history and has reported significant operating losses, negative working capital and a stockholders’ deficit. Its independent auditor’s report includes an explanatory paragraph expressing substantial doubt about the Company’s ability to continue as a going concern. The Company’s cash on hand is insufficient to fund operations for an extended period without additional financing, which may not be available on acceptable terms or at all and may substantially dilute existing stockholders. Investors should review the Company’s Annual Report on Form 10-K for the fiscal year ended February 28, 2026, its Quarterly Report on Form 10-Q for the period ended August 31, 2026, its preliminary information statement on Schedule 14C filed October 23, 2026, and its other SEC filings.

At August 31, 2026, the Company had cash of $220,275, a working capital deficit of $55,894,870, a stockholders’ deficit of $61,690,773 and an accumulated deficit of $184,084,880. Net cash used in operating activities was $4,820,842 for the six months ended August 31, 2026, an average of approximately $803,000 per month, and the Company’s net loss for that period was $12,554,310. In its Quarterly Report on Form 10-Q for that period, management also concluded that substantial doubt exists about the Company’s ability to continue as a going concern.

###

Doug Clemons, Chief Marketing Officer
248-270-8273
doug.c@radsecurity.com

---

ⁱ https://www.ibisworld.com/united-states/market-research-reports/security-services-industry/

Sampo plc, press release, 26 October 2026 at 2:35 pm EET

Sampo will host an Investor Update in London on 17 November 2026

Sampo will host an Investor Update event for analysts and investors on Tuesday 17 November 2026 in London. The event will feature presentations on Sampo’s operational and financial ambitions for the next strategic period from the Group management.

The event can be followed live at www.sampo.com. The programme will start on 17 November at 10:00 am UK time (12:00 pm EET) and will end at around 1:00 pm UK time (3:00 pm EET). The presentations are followed by a Q&A session. Questions can also be sent online during the live webcast.

For further information, please contact:

Diane Michelberger
Head of Investor Relations
tel. +358 10 516 0030

Mirko Hurmerinta
Investor Relations Manager
tel. +358 10 516 0032

Media contacts:
media@sampo.fi

Distribution:
The principal media
www.sampo.com  

ASHBURN, Va., Oct. 26, 2026 (GLOBE NEWSWIRE) — Telos Corporation (NASDAQ: TLS), a leading provider of cyber, cloud and enterprise security solutions for the world’s most security-conscious organizations, today announced that it will report third quarter 2026 financial results on Monday, November 9, 2026. Management will host a webcast to discuss the Company’s financial results and business outlook at 9:30 a.m. ET.

What:	Telos Corporation Third Quarter 2026 Financial Results Webcast
When:	Monday, November 9, 2026
Time:	9:30 a.m. ET
Webcast:	https://investors.telos.com/news-and-events/events

An on-demand replay of the webcast will be available on the Company’s investor relations website.

About Telos Corporation
Telos Corporation (NASDAQ: TLS) empowers and protects the world’s most security-conscious organizations with efficient, adaptable, and secure solutions that safeguard people, systems, and information. We deliver advanced capabilities across cyber governance, risk, and compliance (GRC) with Xacta^®; identity and biometric solutions; secure networks and communications; and TSA PreCheck^® enrollment services. Serving the U.S. federal government, regulated industries, and global enterprises, Telos helps customers stay ahead of evolving threats, accelerate compliance, and achieve mission success. Driven by purpose and guided by our core values, we build trusted partnerships, deliver superior solutions, and help create a more secure, interconnected world. Learn more at www.telos.com.   

Media:
media@telos.com         

Investors:
InvestorRelations@telos.com